The Daily Alaska empire Newspaper, April 8, 1937, Page 4

THE DAILY ALASKA EMPIRE, THURSDAY, APRIL 8, 1937, Daily Alaska Empire ROBERT W. BENDER Editor and Manager Published every evening except Sunday by the EMPIRE PRINTING COMPANY at Second and Main Streets, Juneau. Alaska. Entered in the Post Office in Juneau as Secoud Class matter. SUBSCRIPTION RATES. Deltvered in carrler in Juneau and Douglas for $1.25 per month. By mall, postage paid, at the following rates Ome year, in advance, $13,00; six months, in advance, $6.00 one month, in advani+, §1.28 Subscribers will esnfer a favor if they the Business Office of any failure or irresu of their papers. 11l promptly notify rity in the delivery Telephones: News Office, 602; Busine: MEMBER OF ASSOCIATED PRES The Assoclated Press is exclusively entitled to wise credited in this peper and also the local news published herein. ALASKA CIRCULATION GUARANTEED TO P : LARGER N. STEPPING ON THE BOOM BRAKE A sharp move downward was reported in the stock market yesterday as rumors spread that the government contemplated a cut in the gold price as a means toward curbing boom tendencies. Whethey such a check will be used has not been ascertained but for more than a year officialdom has been keep- ing its ear to the ground and taking steps from time to time with the intention of checking a wild boom period like 1929 which might lead to another financial disaster. The first move, early in in stock market margin requirements. 1936, was an increase The next was the extension of margin restrictions to banks as well| as brokers, and this was coupled with further increase in margin requirements making a minimum of 55 per cent apply to all stocks. Concurrently with these moves there was a steady flow of officially inspired public discussion leading in mid-summer to a 30 per cent increase in the reserve requirements of rfember banks of the Federal Reserve. Beginning ajain last November, a flow discussion prepared the way for a second increase in new of reserve requirements to take effect in two installments, | half on March 1 and half on May 1. Other step: included the gold-sterilization plan put into effect in December and the talk of taking measures to bar “hot money” from the country. Elliott V. Bell, financial expert of the New York Times, comments that all these moves had but one purpose—to reduce the existing basis for credit ex- pansion. “In effect,” says Mr. Bell, “they were a partial reversal of the devaluation which had so greatly en- larged the credit base, None of them, however, save possibly the increase in stock margins, was actually restrictive. They reduced the potentialiiies of infla- tion somewhat, but did not go beyond that. It was as though a foot had been pressed upon the brake pedal only enough to take up the free play.” In this connection Marriner S. Eccles, chairman of the Board of Governors of the Federal Reserve System, has come out and declared that government spending of borrowed money must stop. He said that the process must be reversed so as to permit the “re- tirement of public debt by the government in relation- ship to the expansion of private credit.” In other words, as business, swinging into the full tide of recovery, reaches out for bank credit, government must draw backward, step for step, extinguishing the credit it has created as rapidly as business expands credit. Thus the supply of money would continue unchanged. Mr. Bell, commenting on this deduction, has this to say “This can only mean that the administration’s program of monetary management is approaching the test which hostile critics have declared no political leaders can be brave enough to meet— the test of courage and judgment enough to check a boom.” While they are only rumors at this time about cutting the gold price, it appears definite that the government is planning to step harder and harder on the brake in an effort to forestall anything which might lead to another ultra boom period. A MATTER OF ADJUSTMENT The large number of strikes of recent months throughout the country has drawn columns of com- ment on the ultimate result. Some see, especially in the sit-down strikes, open revolution. Others are of the theory that it is only what might be termed a passing fad. The psychology of success by one group spreading to other groups. But it is a significant fact that in virtually ail strike troubles agreements are reached. day came word of settlement of the nationally noted Chrysler automobile strike. Other similar differ- ences in the automobile industry and kindred indus- tries have been settled bornness on both sides. This would seem to indicaie that those who talk revolution and their colleagues who speak of a pass- ing fad are neither correct. Rather, the deduction apparent to those of us viewing the troubles from a distance, would be that the nation’s industrial strife is more a matter of adjustment. It can not be forgotten that wages were slashed severely and in many instances discontinued al- together when we went through the depression. When business began the upward trek as recovery returned, wages, naturally, were among the last things to move back toward their former level. Business recovery is now conceded to be almost complete. At least, most of it is back to what we term as normal years. But wages have been slower in moving up with the re- sultant differences between employers and employees Evidence that it is mostly a matter of adjustment appears abundant in the strike settlements that are being reported in every case of major labor differ- ences. If it was more than that, agreements would not be reached There’s a world of romance or something a little “screwy” about that trip of the Los Angeles couple to Neme on a motoreycle. The British lion is reported switching his tail mn Just yester- | after the usual flare of stub- 1 |the Spanish trouble. Most of us hope he doesn't | spring talk about At any rate, there is something to until the city appointments are made. Money Market Rates (New York Times) This week’s fractional rise in commercial paper rates on the New York market would have attracted |less attention if it were not for the fact that this was Ithe first change in open-market quotations on that class of loans during nearly three years, and that it |has occurred in immediate sequence to the increased yield on United States Government bonds at present lower prices. Along with merchants’ paper, the rate lon short-term Treasury hills, which are placed on a discount basis, rose similarly to the highest since this month in 1934, The changes are not great; the commercial paper rate, for instance, has risen only from % of 1 per cent to 1 per cent. Even this slight change excited interest, however, not alone because of the very long main- tenance uninterruptedly of the lower rate, but be- cause the present great activity of production and trade coincides with near-by completion of the doub- ling of bank reserve requirements and the “steriliz- |ing” of the imported gold which has hitherto greatly increased bank reserves. The recent annual report | of the New York Reserve Bank points out that in, | February, 1936, commerc! loans in the New York (district were less than a year before but that, at the | year-end, the New York total exceeded 1935 by more 'than $400,000,000. A similar increase had occurred | throughout the country; it has continued into 1937.| This is ascribed by the Reserve Bank primarily to | “the rising volume of business transactions, and to {the consequent increase in the amount of funds re- |quired for purchases of materials, payroll expendi- | | ture, and the drrying of inventories of finished mer- ! {chandise.” The report remarks that, had it not been |for the large increase of surplus bank reserves, due |to gold import: radically different money-rate | situation in 1936” would have resulted. It remains | {to be tested how far the changes effected in the| | reserve position will find further reflection in money | { markets. mally low. \ Continuance of that situation would be | | regarded from opposing viewpoints. Very easy money helps to float advantageously the Government's huge | borrowings. But it would also stimulate whatever of | |dangerous speculation might arise in markets for | commodities or Food For Theught (Cincinnati Enquirer) Oscar of the Waldorf, whose position enables him ! | to speak with some authority, says that all great men |are plain eaters. The statement gains additional em- | phasis from the fact that Oscar, who revels in the preparation of fancy dishes, undoubtedly would like to see it otherwise. The matter is an excellent subject for controversy, {especially one revolving around the point whether igreat men are great because they are plain eaters, or ‘wlm(her they are plain eaters because they are great. | |The latter would seem truer, bécause it is an estab- | lished fact that all plain eaters are not great men. Why, then, would men necessarily be plain eaters because they are great? It could only be because their mind is on other matters than food. Little mental concentration is needed to sit down and eat roast beef and mashed potatoes, and the great man consequently {ean keep his mind on more important problems than if, for instance, he was called upon to cope with an | array of what Keats called “Spiced dainties from silken ' Samarcand to cedar’d Lebanon.” Fancy eating, like the game of bridge, requires concentration to be enjoyed. Thus it might be rea- soned that if a man with all of the attributes of greatness took time out to give much attention to food he would not have sufficient time left in which to attain greatness. The fancy eater, however, is not barred from all forms of greatness. Even Oscar of the Waldorf must admit that such a man might quali- fy as a greal eater Memories Green (Philade!phia Record) In former days the voung thought about them- selves, the middle-aged talked about themselves and the aged wrote about themselves. Autobiography was the last exercise of writers, statesmen and other public figures—the summation and valedictory of their lives. But restless youth now has invaded even this field and in recent years the age of those rushing into print to tell the stories of their lives becomes steadily younger. Walter Duranty, Vincent Sheehan, Negley Farson are nowhere near the retirement stage. Yet they and ymany others of their vigorous generation have set down their records up to date. Now comes a still younger autobiographer, Angelo Herndon, the 19- vear-old Negro whose autobiography is called “Let Me Live.” Herndon, fighting a conviction for “sedition” in the courts, has a story to tell. But isn't it a little early land defeatist to adverlise that story as an “autobi- ‘cgmph,\ ? As these narrators live on through further adven- tures, successive books are bound to take on the quality of a Tom Swift series. Doubtless we soon will have | Walter Duranty’s “I Still Write as I Please,” Vincent Sheelan’s “Personal History, Vol. II" and Angelo Hern- don’s “Let Me Live Some More.” To do it properly, we would like to see such a jseries of books begin with “The Twentieth Century |as Seen Through the Bars of a Kiddy-Coop.” “Reds Are Aiming High."—Headline. | What a relief to find the reference is to the Cin- |cinnati National League Reds, and not the Russian! —Kansas City Star. It strikes us that Mussolini’s order to his subjects to get busy and produce more babies makes him the world's outstanding kibitzer.—Ohio State Journal. Appointing more judges is quicker than amending |the Constitution. For that matter, a declaration of Imartial law is still quicker.—Akron Beacon-Journal. The Japanese have sponsored another “indepen- dent” nation in Chinese territory, which seems to be Tokyo's idea of a good-neighbor policy.—Indianapolis Star. Who would ever have thought that the letters |C 1 O would become more controlling in the automo- bile industry than F O B?—Buffalo Courier-Express. A New York brewery official says, “Bock must be drunk with dignity.” Well, the first couple of glasses, anyway.—Boston Transcript. It's a wonder the robins don't hold a sit-down strike on John L. Lew eyebrows.—Wheeling, W. | Va., News-Register. Statesmanship keeps all Europe behind the hate hall.—Chicago Tribune. Can You Remember—Away back when flying was thought to be safe?—New York Sun | | | & | { | in South HAPPY BIRTHDAY The Empire extends congratula- tions and best wishes today, their birthday anniversary, to the follow- ing: APRIL 8. H. B. LeFevre Geraldine Holm Don G. Morrison Henry Mead Louise Adams Mrs. George F. Alexander Felix Gray John Rudy —ee - MODERN ETIQUEFIE By Rcberta Lee l Q Is it all right for a man's visiting card to bear his title? A. Yes, as a general rule it is a)l right, such as a doctor; but one should not do so where it may it is entirely optional Q. May the hostess remove her hat at a luncheon? A. Yes, if she wishes to do so; Signed the rolls as permanent mem-|son astrologers counsel caution in| it is entirel yoptional. Q Should children, six to ten years of age, be dressed in mourn- ing? A. Never LOOX and LEARN By A. C. Gordon The, present money rates are still abnor- | i 1. Which is called the most in- teresting organ of the human body? 2. Who wrote “Kenilworth”? 3. What has been estimated the weight of the earth? 4. What is a midshipman? 5. What is the smallest republic America? ANSWERS The brain Sir Walter Scott. 3. Six thousand billion tons. 4. A student at the United States Naval Academy at Annapolis. 5. Paraguay. e —— 1 2 IN ENGLISH By W. L. Gordox rds Often Misused: Do not say, “Her pleasing manner captured him.” Say, “Her pleasing manners captivated (or charmed) him.” Often Mispronounced: Resilience. Pronounce re-zil-i-ens, both i's as ir it, accent second syllable, and not re-zil-yens. Often not up. Synonyms: roundabout, pentine. Word Study: “Use a word three times and it is yours.” Let us in- crease our vocabulary by mastering one word each day. Today's word: Degenerate (verb); to become or grow worse than any one’s kind, de- teriorate. “When wit transgresseth decency it degenerates into insolence and impiety."—Tillotson. -ee - Misspelled: Turnip; ip, Circuitous, winding, indirect, sinuous, ser- Dr. William D. Lee, soil conser- vation specialist at North Carolina State College, says American lives and property never will be free from the danger of floods until the main| water sheds are adequately protect- ed by forests and -close-growing crops. - “Alaska” by Lester D. Hendersen ork and Dress BIG VAN'S 228 Front St. # |home P o v | 20 YEARS AGO | From The Empire | | | APRIL 8, 1917. | Austria broke diplomatic rela- {tions with the United States and it {was expected that Turkey and Bul- lxgmm would sever diplomatic rela- Itions at any time. Al diplomatic lofficials had been recalled from “\\l.\”‘hi Hungary and Spain was to itake over the interests of the Unit- led states in Austria. | Quickly acting upon the sugges- |tion of President Wilson that Red Cross societies be formed through- out the country to assist in raising funds and furnishing supplies for |the boys of the Army and Navy,! the Juneau Red Cross Chapter met |and formed an organization at the of Mrs. F. J. Malone, who |was elected chairman. Mrs. W. S. Pullen was named vice-chairman; Mrs. R. W. Jennings, treasurer and Miss Margaret Green secretary. | An enthusiastic meeting of Co. A, Alaska Military Training Corps was |held in the City Hall and 30 men| They bers. were H., F. Morton, I Horoscope “The stars inclire but do not compel” FRIDAY, APRIL 9, 1937 Aeccording to astrology this should be a fortunate day to men and wo- men who have faith in themselves as well as in their stars. While Jupiter smiles adverse influences are active. The morning is fairly promising: for those who seek employment or engage in any sort of promotion work. The stars indicate delays that will end fortunately. Labor continues under a sinister direction of the stars which are read as encouraging unwise poli- cies. The seers declare that the golden rule should be employed in measuring human relations. Great activity in real estate in many parts of the country prog- nosticated. Speculation should be avoided, but home-owning is under a favorable sway. War clouds are to be ominous and peace movements numerous nn'oughi this month and next. For this rea-| | | financial matters. Mrs. A. L. Whitford, of Alfred.' N. Y, has a collection of 2,500 but- tons, made from almost every kind of material, gathered in three months. NOTICE TO CREDITORS IN UNITED STATES COMMIS-| PHONE 206 Juneau Radio Service For Your RADIO Troubles 122 Second St.—Next door to SIONER'S (EX-OFFICIO PRO. BATE) COURT FOR THE TER- RITORY OF ALASKA, JUNEAU] | COMMISSIONER'S PRECINCT. | | In the Matter of the Estate of! { ANDREW LINDSTROM, Deceased. | Bert’s Cash Grocery PHORIE 103 Frée Delivery Juneau ] | ALL CONCERNED are hereby no- | i tified that ALASKA PERSONAL :: SERVICE AGENTS, a corporation, | was on March 17, 1937, duly ap- pointed administrator of the estate| of ANDREW LINDSTROM, de-| ceased. } ALL PERSONS having : against said estate are hereby re-| ., PHONE 36 For very prompt claims | quired to present the same — proper vouchers, within six (6) months from the date of this notice to the undersigned administrator at' 206 Seward Building, Juneau, Al- aska, or mail same to Post Office Box 1200, Juneau, Alaska. Dated at Juneau, Alaska, this 25th | day of March, 1937. ALASKA PERSONAL SERVICE AGENTS, Administrator. By R. E. ROBERTSON, President. Charles E. Naghel, G. A. Vingar,, .icic stress the power of First publication March 25, 1937, James F. Hurley, Martin S. Per-| kins, Sidney D. Charles, G. A. GX!F‘ ifield, J. E. George, H. A. Black-! |well, Claude Gwinn, G. W. Saum, R. R. Young, C. P. O'Kelly, C. B.| Secrest, Walter Johnson, Dr. Harry, C. DeVighne, Thomas Donovan, John Carney, A. B. Wilson, A Cole, Robert Herrick, P. H. Reeve, Otis Ross, Frank A. Brown, 1. G Durant, M. S. Sutton, John S. Sav- 'age, Fred J. Jonas, A. E. Anderson and George Irving. | At a regular meeting of the City Council, B. D. Stewart, retiring mayor, who was given high tributes by his councilmen, turned over the executive chair of the City of Ju- neau to Emery Valentine, newly |elected Mayor. In his message to |the Council Valentine urged re- |trenchment if necessary and declar- |ed that no effort should be spared to induce the fishing fleet to re- turn to Juneau. Mr. and Mrs. David H. Delzelle announced the engagement of their daughter Margaret to Harold L. Gochenour, of Washington, D. C. J. G. Shepard, son of Mr. and Mrs. H. R. Shepard, who was at- tending school in California, returning from the South. Weather: Highest, 42; lowest, 34; Cloudy. | -ee - — i The Tllinois conservation depart- ter with dynamite bombs. was prayer in protecting the United States from world war. Those with far visign warn that evil portents| are many. | This is a lucky day for men who lead by mental domination. Edu- cators, lawyers, clergymen and ‘sialesmen are under good planetary uidance. Anxiety over national revenues now will vex many nations. The United States will confront supreme demands for gigantic outlays for the well-being of the people and their protection from foreign foes. Persons whose birthdate it is have the augury of a year of fortunate finzncial transactions,. Rewards from past investments and work are prophesied for many Children born on this day prob- ably will be mentally and physical- ly courageous to the point of reck- lessness. Subjects of this sign are fond of leadership and many seek public service. Efrem Zimbalist, violinist, was born on this day 1889. Others who have celebrated it as a birthday in- clude Park Trammell, United States Senator, 1876; Paul Robeson, sing- er, 1896; James T. Heflin, United States Senator, 1869. (Copyright, 1937) g | Winter Rates KA HOT SPRINGS | I SIT! Mineral Hot Baths | | Accommodations to suit every | , ment killed 150,000 crows last win- | taste. Reservations Alaska Afr | [ Transport. ->-oo | Today's News Today—Empire. i THE BEST TAP BEER iN TOWN! THE MINERS' Recreation Farlors ® BILI. DOUGLAS | The B. M. Bank Juneau, COMMERCIAL and SAVINGS Resources Over. Two and One-Half Million Dollars Behrends Alaska ' HOTEL JUNEAU Formerly Hotel Zynda CLARENCE WISE Manager THE MIDGET | LUNCH 282 S. Franklin Open 6 a.m.—8 p.m. SIGRID'S BEAUTY SALON “YOUR APPEARANCE IS OUR RESPONSIBILITY"” | Shattuck Bldg. Phone 318 “0. K. LUNCH Fried Frog Legs and Other Delicacies 257 S. Franklin | [ | | Phone 324 P “Tomorrow'’s Styles Juneau’s Own Store CARDINAL CABS 25¢ Within City Limits Last publication April 15, 1937. with | — LIQUOR DELIVERY PHONES 92 or 3 Fize Delivery Fresh Meats, Groceries, Liquors, Wines and Beer We Sell for LESS Because We sSell for CASH Leader Dept. Store George Brothers Thomas Hall You are invited to present this ~oupon at the box office of the Capitol Theatre and receive tickets for your- self and a friend or relative to see “Poppyflfi As a paid-ap Suos criber of The Daily Alaska Empire Good only for current offering. Your Name May Appear Tomorrow WATCH THIS SPACE | Pay'n Takit | - i 230 South Franklin ‘ferephone 411 CONNCORS MOTOR CO., Inc Distributors CHEVROLFT PONTIAC BUICK WINDOW C LEANING PHONE 488 INSUR ANCE Allen Shattuck Established 1898 Alaska Remember!!! If your "Daily Alaska Empire” has not been delivered By 6:00 P. M. PHONE 226 A copy will be sent you IMMED- .. IATELY by SPECIAL CARRIER. ,