The Daily Alaska empire Newspaper, January 1, 1938, Page 8

3 A 3 3 m"ET, CHEERY Business Hit Bump:s WELCOME FOR "_—, Juneau Watches 1937 Pass Without Any General Disturbance as the snow fall welcome the lew, not was Almost as silentiy did Juneau form New Year. Not-a whistle a bell rang out and there dearth of auto honking and revolver tiring also. For the first ume in several years, there was not a Coast Guard cutter in Juneau to welcome with noisy blasts of the whistle the New Year and not a steamer was tied to any of the local wharts Even the vessels of the fishing fleet moored at the various floats, forgot a to “tie down" the whistle There were a few revolver shots heard but then they were heard beginning shortly after 8 o'clock last night and intermittently until early this morning So much for the general celebra- tion, but at the annual Hi-Jinks given by the Eiks in their ballroom, there was plenty of noise. In sev- eral homes where guests had gath- ered there was pronounced hilarity and firecrackers played a part in the general welcome. Religious services, watch night meectings, were held by two organ- izations and they were well attend- ed. There was a general “Happy New Year” exchange on the streets and finally merrymakers in homes, ca- tes and restaurants dispersed and the dawn, with light dry snow fall- ing on the city and surrounding ter- ritory, arrived. Today Husiness is practically sus- pended In many stores. behind locked doors and drawn curtains, clerks were taking stock. No offic- es, city, Territorial or Federal are open. Many open houses are sched- uled for this afternoon and the us- ual holiday dinners are slated for late this afternoon or evening. Tomorrow is Sunday, with usual services in Juneau's churches, and the next day is Monday, when bu: iness again resumes with no holi- days for some months. Cotton Cloth Output Reached New High, 1931 NEW YORK, Jaa, 1. — Enough cotton cloth to form a white cover for the state of Delaware was woven by the country’s textile mills in 1937. Trade acsociation figures, with December partly estimated, placed the year's output at 9,000,000,000 square yards—2370 square miles— the greatest on record. Last year 8,573,000,000 square yards were woven and in 1927, the previous record year, 8,980,000,000. Depres- sion shrank production in 1932 to 6.446,000,000 square yards. - - Today’s News Today.—Empire. Industrial activity figures last spring were the best since 1929, But they scon headed downward. talking of a recession and how to overcome its effects through cooperat By CLAUDE Asscciated Press Financial Editor NEW pace tr slacke incident with a resoundin, stock wtroversy the Ci lead anew ness said the New Deal’s planned re- A ea During Y r That Ha:s‘ Jus Come to a Close JAGGER and undistributed profits tax ¢ 3T ¢ which business and financial lead- | YORK, Jan. 1.—After five erg ngserted had tended to stem the of acceleration, finally reach- flow of private investment and to 1 business initiative. ween the Pres- the electric were an effort | to work out a “truce” between the! New Deal and major power inter- The President interested | himself in the depressed state of| railway finance and expressed hope | reminiscent of “‘boom he nation’s business machine d abruptly late in 1937, co- ack in le market between business and the New Deal flared substantial sector of busi- ests covery had flopped, that finance the ICC would deal with the matter and industry had bogged down| promptly. The utilities, including unfier government controls and “in-|yails, are normally among the na- u-rt--rr-?u tion’s heaviest buyers of materials, Administration spokesmen blamed and it was estimated the would unsound business polici: 1 specu- spend billions on their plant and laticn, equipment under favorable condi- Puesident Roosevelt in his Novem- | tions ber 15 message to congress recalled | : N FAE ok ‘u et ~ifr ng 1 called|,,+—APpointment of John W. 45 101 DOk A6 SNV TR & OF Hanes, Wall Street broker fill attention to the rapid rise in many ney on the Securitie rices—a ise iat Lhreatene m prices—a rise that hreatened in|cpange Commission. He was the first {J‘rh‘hm ) o ¢ tock exchange member chosen for 2 i the Wall street policing organiza- Bu. out of the debate, and it was | T e v A bitter in spots, came with striking . i HESHER R aee | hoatd e D e o eeotion carlier had eased and simplified frequency vor cooperatic o Y o i i regulations concerning the The President said in his mes- < - amount of money — margin — re- sage, “private enterprise, with co- P SR S i quired for security purchases operation on the part of the gov : mment, can advance Lo higher N a ‘18, y ‘ D he Labor Takes the Stage g hor legis i was a siorm cen The National Association of Man-| Labor legislation was a siorm cen- ufacturers at its annual convention in Decemk compla. could not ad strictive labor coper agencies. Chester, ‘sit down w t carly form by for M w labor ion Wa duce ing Moves by the Gevernment against the wag and-hours bill Outstanding developments in and blamed part of the business iington late in the year de- clump on the national labor rela- ned to further cooperation and t s act, arguing that it aggravated ¢ recovery rather than ameliorated labor strife. 1.—A special housing m: No-| With the rapid rise of CIO and vember 29 by the President. To re- with strikes in the spring the most financing costs, it proposed numerous since 1916, labor strife major changes in the federal hous- came to the very center of the stage and it called upon manu- in 1637. Labor leaders claimed credit facturers and labor to cooperate for wide increas in wages and toward reducing material @ ter. One of the reasons President Roosevelt called congress in spe . session November 15 was to enacl a biill cn minimum wages and maxi mum hours. He asked immediate action “if we are to maintain wage income and mass purchasing power of the nation against recessive f tors in the general industrial situa- tion. er adopted a plat legislation” and “crippied difficulties,” but it called tion” with government rough its chairman, C it ir ed nment business and with the present depres 1t the manufacturers' associa- it its heavily-attended Decem- convention came out ) cure tion ber mass purchasing power, while ma 1d wage costs, which the President said had business leaders. charged that or- advanced too rapidly, causing a ganized labor was blocking recov- building slump that contributed to ery. Among them was Ernest the autumn business recession. Weir, chairman of National Stee | 2.—A move to change taxes. The Corp. who asserted strikes in 1937 |senate finance committee, with ccst the nation five billion dolla: White House approval, worked on' 5 Note--- TELEPHONE 478 Commencing today, it will be necessary—because of the recent increase in milk bottle deposit price(general throughout Juneau) — that we charge ten cents de- posit on all milk bottles tak- en by our patrons—WITH- OUT EXCEPTION, * Credit for bottles returned. WE ARE LOOKING TOWARD 1938 AS THE FINEST YEAR EVER—— BOTH FOR YOU AND FOR US. California Groce “THE PURE FOODS STORE" | amendments to the capital gains flatly U The year beg: .| emphasis on preventing a boom; with government il a ended with stre depression. Even late in business talking of ventin an prices r ss on preventing 1936 some leaders and government were the necessity of pre- unhealthy “boom” as and business expanded. | in The federal reserve board had moved to curtail the volume of ]m-; tential credit By A. A. PATTON Early in 1937, consumers goods Asscciated Press Statistician lines—like shoes and textiles— | NEW YORK, Jan. 1—Farmers the began to slip, but production of dur-|past year rea the best dollat able good: mobiles— —like steel, copper. ced ahead. Prices and wages mounted. As plans developed |mates of f for active building operations in|mmdicated a total around $8 :,,(wu'yvl the spring, complaints of high costs|(00, compared with $,865,000,000 & were heard with growing frequency.|year ago. This would proxi- March 15, Chairman Eccies of |mately double the ipts. | urged | through the federal government intervention high taxes to prevent tion,” and warned “The upward spiral of es into inflationary pri levels can be as disastrous as dewnward spiral of deflation April 2, President Roosevelt prices in steel, copper and products were too high, an- nounced that government would shift its expenditures from durable goods to consumers good reserve board said other Ups and Dewns During the spring, index figures s of ness activity, together with :ommodity prices and the stock In- s were market, reached recovery pea activity index figur he best since 1929 s started odities in April, industrial ac- in May. But things held up into the summer. It was not August that notable retard- ing of business, abrupt declines censitive prices, developed Sweeping declines, notably in the steck market and in steel produc- ticn, developed in September and October. December, steel pro- duction, ercent of capacity in August was under 30 percent, Teward the end of the year, declines ended to level off ¥ its April peak, The Associ- ated Press weekly index of indus- trial activity—based on steel, auto- mobhile, freight tivity ectric power production movement, cotton mill and residential building was down approximately 30 cent. The daily index of 35 staples was down more than 20 per- cent from its recove top, and the average of 60 representative stocks, about 40 percent ac- per- “Pump Priming’ at Fault? Economists said any analysis of the background of the sudden slump should take into account the gov- ernment’s “pump priming expendi- tures During 1935 and 1933 the treasury was borrowing and spend- hundreds of miilions a month, with the spending reaching a peak in 1936. ing It was the government's theory that busine: fully stimulated by this spending, would be able to carry on under its own steam. In 1937, spending was curtailed and the government began to collect social security taxes, with the result |that in the latter months of the |year, the treasury was not going to |the banks for new money. | How much this spending stimu- lated business, and how much its curtailment had to do with the slump, is a matter for debate. Some economists say the spending was not jcurtailed soon enough, that it |caused price and cost mal-adjust- |ments early in the ye°r. In any event, the government thopes that despite the slump, pri- | recovery load. Secretary Morgenthau said No- vember 11: “The basic need today is the driving force of private capi- tal,” and, “We believe one of the most important ways of achieving these ends at this time is to con- tinue progr toward a balance of the budget. The administration has made clear, however, that budget bal- ancing may be deferred because of the business setback. { .- Alien Fishing i Boats to Be Out {In Coast Trade | WASHINGTON, Jan. 1. tor Royal S. Copeland, of Ne predicted prompt action at |coming session of Congress on the| 'bill which he sz a By autumn, government and business were Chart shows what's hapnened since boom days. auto- | narvest since prices | $287,000,000 the | come over 1936 resulted largely fr "'h to slip in March, w vate capital will loosen up, carry the | {under $17. - D Forest control dates back to col- onial times when the British Crown for | | | Sena- reserved trees in this country ~120 | | | i 'Farm Prices Drop But Income Rises During Past Year Preliminary rm income Government payments to farmers were sharply higher. i'ull re about $375,000,000. t actual outlays a year ago ol | ear €S- w The 11 pe nt gain in farm in-| various agricultural | wheat, corn and the lik lifted total in despite a drastic decline in av: s pric Prices Fall As Crops Rise crops of taples—cotton —that | 90 | | | greeted by a crowd of several h | .| The Alaska Unemployment Com-| THE DAILY ALASKA EMPIRE, SATURDAY, JAN. 1, 1938. ‘Hundreds Attend Annual Hi-Jinks | Newfiar's Eve Elks Sponsor Traditional Gala Festivity in Ballroom Announced by all the noise-mak- ers of the city, the New Year Ww. Elks' Hi-Jinks dance the Elks' ballroom. Barrett and his orchestra playing, the dance was climaxed by a special New Year program presenting Mary Lou Tom- kin, Adrienne Glass, Willane and Dale Roff. Mary Lou, as a briefly be-ribboned 1938, put Dale Roff, elderly 1937, through a series of ! acrobatic stunts which revealed that there was life in the old y dred at the last night in With Wesley and Adrienne Glass, the first pres- ented in a Spanish tap dance, and the second in gypsy dance. Howard Simmons was chairman of the dance, annual New Year Eve event sponsored by the Bene- volent and Protective Order of Elks. | 5 L Unemployment Compensation Tax Statement pensation Commission today noti-| tied employers who have allowed their Alaska unemployment com- pensation tax to become delinquent (that interest on this tax is accru- !mu at the rate of six percent per The year was ushered in with quotations of the principal tarm commcdities high, and heading The 19 had iled 1 othe of grain items. Domes- tic and world consumers were eager to bolster depleted stocks, and bids moved up steadily The upsurge was augmented some- hat by scattered indications of d s during the spring, Rains came, however, and crop prospects began cur locking up. nodity men stepped up hates month aiter month, prices of most agricuitu al staples hit the togoggan Cotton crashed from above 15 cents a pound in the New York spot market (o less than seven cents as harvest at argest ever had FARM INCOME D = N W P oo od ~N o W O 1929 1932 (Each Symbol=$1,000,000,000 INCOME} 1936 1937 ceived a small income per unit pro- duced, but sold a great deal more merchandise at these lower prices. Livestock prices alone breasted the receding tide during the summer months. The Associated Press weigh- ted index of animal quotations it pushed steadily upward until mid- September. The big corn changed the picture. months hogs slumped from $13 a hundred-weight crop, use by the Royal Navy. - — Turkey production in the United would finally|States averages one bird for every |eliminate Japanese and other alien SiX persons compared with one for trade. fishing vessels from the coasungievery five persons in the peak year, 1890. n 18,000.- | however, In about three to around $8.50, land cattle fell back from $19.50 to annum, Furthermore, any em- |ployer who is liable both under Ti |tle IX of the Federal Social Se-| |curity Act and the Alaska Unem-| ployment Compensation Act must| |pay the Alaska uneriployment com-| |pensation tax by January 31, 1938 in order to obtain credit for the Al- jaska tax on the tax levied under | |Title IX of the Federal Act. An |employer who fails to meet this re-| jquirement will automatically forfeit |the right to credit and will be sub- |ject to double taxation. ’ Any employer, as dé€iined in Src-l {tion 2 of the Alaska Act, who has {had in his employ eight or mm'r-l "u:dn iduals for twenty or more duys.l reach day being in a dfferent week, |during the calendar year 1937, is| |subject to the Alaska unemployment | | compensation tax. | Forms may be secured by applying {lons, BONDS RESIST STOCK SLUMP NEW YORK, Jan. 1. — Listed bond prices dropped in 1937, but the decline, approximately 6.5 per- cent between January 1 and Decem- ber 1, was far less thon the 33 per cent fall in listed stocks Market value of all liens traded by the New York stock exchange on January 1 was placed by the ex- change at $45,053,593,776. On De- cember 1 it was $42,109,154,661. The high for the year was about Feb- ruary 1, when total value was $45,- 113,047,758, 0il Pmdfififiun Is }figh in 1931 NEW YORK, Jan. 1. — Record billions of gallons of gasoline piwer- yet. But before long, Miss 1938 had 3 shooed 1937 away, complete with ed the nation’s trucks, automobiles his hour glass, sickle and flowing and power plants in 1937 as oil out- beard. put rose to an all-time peak Added features of the program| A total of 21800000000 gallons were the dances by Willane Roff ¥as manufactured, according to iesnmates based on American Pe- troleum Institute data. Last year production was 20,220,000,000 gal- in 1932 it was 15.900.000.0001 and in 1929 it was 16,100,000.000. - | NURSES TO MEET The Gastineau Channel Nurses Association is to meet on Monday at 8 p.n. at St. Ann's Hospital, where Mrs. E. H. Kaser, president, | will preside at the regular session.| # x4 HosPITAL NOTES Mrs. Annie Stomata, a medical patient, was admitted yesterday to St. Ann’s Hospital Mrs. James Mullen was dismissed today from St. Ann's Hospital fol- lowing surgical care Pat Brennon, a medical patient, was dismissed yesterday from St Ann's Hospital. B. P. W. C. MEETING TO BE HELD MONDAY The regular business meeting of the Business d Professional Wom- en's Club will be held at 8 pm. ) ay when members will meet cutine work and discussion of ticle “Take a Hint from the from the B. P. W. C. maga- zine All members are to read the article before attending the meet- ing. Miss Caroline Todd, president, will presice STUDENTS RETURN TO SCHOOL MONDAY After a vacation of several days over the holidays, Juneau students will return to school Monday morn- ing in regular session. An extra week of vacation was decided upon for the winter season, extening the original time from December 28 to January 3. As a result of this change, summer va- cation will commence a week later this year. e — Empire classifieds pay. AN AN AN~ Mr. Radio S we have just installed The Clough-Rrengle C RADIO SERVICE TS sEsEcss o S e o e o s o s o 5 O o ”“‘"wfl“’—fi i 558 o 8 5 e ’Vg’—flé‘“'fl o 95 g o B8 g e *The CATHODE-RAY Accurately Measures Radio Set Performance o) inspect your set Rey Servicer fo our shop or 'phone today for full details. You Arc Invited to Inspect This New Equipment JUNEAU RADIO SERVICE 122 Second St.—Next to San Francisco Bakery All Work Fully Guaranteed 60 Days PHONE US TODAY——206 et 0wner-— atest marvel sciencc ATHODE -RAY" LABORATORY Making it possible to adjust your receiver with the accuracy of America's foremost laboratories Let us renew the peformance of your radio set. Don't miss the rich musical tones and distant stations your set was built to receive—for the lack of accurate adjustment. With our new Cathode-Ray Servicer it can be quicklw “'made like new."" Special “FACTORY TUNE-UP" offer For a limited time ounly, we will thoroughly and align it with the Cathode- r a nominal charge, Call at any crop yielded o Y | 000 bales. The 1936 total was 12,400- |to the Alaska Unemployment Gom- | 60 [pensation Commission, . 0. Box| With the wheat crop jumping|2661, Juneau, Alaska. | 1 626,000,000 bushels in 1936 to] A | 837,000,000 & ly the lev-| BOYLE IN TOWN | el of the 2 30 price " | - glid from $1.50 & bushel in the spring| J- E. Boyle, Union Oil man, was | to less than $1 jan arrival aboard the Princess| Total Sales Higher Norah. He is stopping at the Hotel| Corn, the important item on the|Juneau. 3 | tivestock menu, dropped from $1.36 in April to under $1 a bushel at the| recent low point | The farmer, in other words, re-| WE TOAST MAY ALL THAT'S FINEST IN WORLD BE ALL OUR FRIENDS THROUGHOUT ALL ALASKA . .. DURING THIS NEWEST YEAR! YOU! THIS FOR Budweiser Alt Heidelberg Schenley’s Elsinore Wines I. De Turk Wines