Pampa Daily News from Pampa, Texas on April 25, 1937 · Page 12
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Pampa Daily News from Pampa, Texas · Page 12

Pampa, Texas
Issue Date:
Sunday, April 25, 1937
Page 12
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ffift PAttPA Mttif NEWS, Pfitopi, Te*rt THE FINANCIAL WfflRLIfilG By tOtJIS CSARfS When asked for an explanation Jot the bearish attitude of chart students, one who Is regarded as an expert explained: "There's no tlriie In history that the stock market, after advancing for two years, closed higher during the third year." fn confirming this theory It was shdwn that market rallies carry for two-year periods, then run into drastic selling waves. The bull swinj could continue after the "shike-out," But It was shown that no tflatter how sharp the rally the decline the third year closes lower on the averages than those of the second year. als are too low to make Investments profitable in new building projects. COFFEE For the year running from July 1, 1936 to July 1, 1937 Brazil has agreed to throw 11,000,000 bags of coffee on the bonfire. Since the incinerator start of action last year 5,836,000 bags of coffee have been destroyed. Official Information is that the balance of the allotted figure will surely be burned during the remaining months of the coffee year. It is interesting to note that in order to bolster the price structure, there is as much coffee placed on the burning pile as is consumed In the world market. STEEL Steel trade officials aren't disturbed by President Roosevelt's blast against current price levels. It is pointed out that as, If and when domestic demand eases, foreign shipments will spurt sharply. "And we can sell at higher prices than domestic quotations." European steel demand is large because mills in foreign lands are • currently operating at full capacity supplying the various governments with armament requirements. According to the steel trade the wage agreement between soft coal operators and mine workers lifts the cost of manufacturing by an average of twenty cents per ton. Now that scrap prices are easing it will offset the additional increase. REPORTS ARE THAT The widely publicized British ec- onmist now in Hew York urging clients into common shares has only a small followng. . . Crown Zeller- back has a speculative following due to increased earnings. . . Portfolio interests like Goodyear—scale- down long pull buying reported. . . Crown Cork and Seal will not show profits on its can manufacturing units until next year. . . Otis Elevator has a long-pull following- earnings up ... Insiders hear Pioneer Gold's 1937 dividend payments will run below those of last year . . . Long-pull 1937 earnings estimate: Mead Corp. will show S3.50 a share. . . ExCell-O Corp's speculative activity due to increased activity in machine tool Industry. . . Investment accounts switched Delaware & Hudson into Pennsylvania Railroad because of dividend return. . . Aviation Corp to resume dividend payments. . . Automobile takings promise to make Sharon Steel's second quarter net interesting reading. . . United Paperboard nearby dividend possibilities beclouded despite tipsters' promises. . . National Acme may show S2 a share for 1937. . . Toronto traders like Ford of Canada 'class A shares as a speculative risk. . . At current rate of bookinps and operations Westinghouse Electric may show $8 a share this year. . . And, that railroad equipment manufacturing company share selling was traced to investment trusts. ad- members as that body had journed for the week-end. The Ex-Students' association of the university supervises the roundup activities. Jack dhevigny, University of Texas football coach through last season, would be perhaps the greatest sufferer under the reduced departmental appropriations recommended by the Senate finance committee. The committee suggested that his salary as chief attorney for the tax board be trimmed from $315 to $150 a month, effective with the start of the next biennium, Sept. 1. The reduction for Chevigny was one of several proposed by the committee. No reason was given other than that curtailment of expenditures was necessary. Dana X. Bible, Chevlgny's successor as coach, received a 10-year contract at a salary reputed to be $15,000 annually. Feted as Maker First Auto OUR BOARDING HOUSE rith AMD ALACK, JASOM-—~ WtTH ALL THIS ILL LUCK, IT LOOKS AS IF THE GODDESS OF MlSFORTUME HAS <3IVEW ME THE EYE. TO THIkJK THAT MY OWM •BFQTHE'R WOULD IMVEICiLE ME I WTO BUYIMG A BUSINESS SO EMCUMBEF^Et? WITH DEF5T TMAT, IMSTEAD OF VDPiCHASIMG A CIRCUS, MV MOMEY T30U3HT HIS YAS,SUM, MISTAM MADAM/ IT LOOKS LIKE T3AT <5OPDEST POME SWlM<3 HEK MOP AMC> SLAT YOU •DOWKI^*.WHei TWO MHMS SAY WAS DEPUTY 1 KMOWET? YO CIFSCUS VA/AS A T3ia "BUST, LIKE MEW KINPA AUTO BUMPER YOU TRIED* OUT OM ME/ Major Hoopla HAH ? V6.LL, IN COOPLE VEAB.S SOU GAT DEES KIND LAK PEE SIOM FROM PE —\ COCONUT. A RELIC OF &ettee PAV5, I GUESS, HE. WAS WORTH A HALF OF A MILLIOM AT OW& TIME 1 -! FEEL 50REV t tJON't.' ME'SHAt? ' tH' FEEL, OF HAVlW It.tHATS SOMETHIU' NONE OF US EVER HAD TH' PLEASURE WHILE WE HAD It*, &UT, N6W* WANT tf, IF: I'M . On Capitol Hill WAITING In order to determine the investment pulse, v.-.dei-writing bankers are closely watching the price action of the newer refunding issues. The bond market shake-up completely routed the 3 1-4 per cent coupon issues. Even the 3 1-2 per cent rate is considered frail and uncertain. Until there is a definite test—due soon—no plans will be prepraed for any large new corporate refunding operations. EXPECTED Internationally informed sources say that what foreign buying is coming into the market is for yield purposes and not speculative gains. Current yield on good American equities is well above that prevailing in foreign markets. In London and Amsterdam solid equities are priced to yield three per cent or less. In American markets the yields run above that figure. Should foreign markets continue to ease—as they have been doing over the past few weeks—a shifting of funds from American into Dutch and British markets is expected. CUT According to trade interests the demand for farm machinery has been nothing short of phenomenal. As is,'some manufacturers actually lack production facilities to meet the demand. Yet there is no smart buying of such stocks. This because profit margins have been seriously cut. The inside story is that the dollar gains—at least for the first six months of the year—will not be as large as sales figures suggest. BY IIARHALL E. LEE. AUSTIN, April 24 (/P)— Texans are -.msit! !juaiu&>iduraun iruapoj oin uo Supreme Court of the United States on the federal nuemployment insurance and old age security acts. The legislature at its special session last enacted an unemployment compensation law containing a provision that if the federal act should be invalidated the Texas statute likewise would fall. Doubt has been expressed in some quarters whether the law would be ruled within the state constitution, that led Rep. Jeff D. Stinson of Dallas to introduce a proposal validating it. The House approved the roposed constitutional change with ;tle opposition. Two suits attacking validity of nemployment compensation legisla- on were filed here n short time jo. They likely will not be prose- uted until after the Supreme Court cts. Texas legislators are interested i whether the old age security law upheld because the opinion has een advanced that its operation ill result after a few years in per- nitting a substantial reduction in tate old age pension expenditures. Members of the legislatire usually 3ceive special invitations or passes j functions sponsored by governmental agencies to which they make ppropriations or to amusements abject to their regulation such as orse races. The story heard in the capital, owever, is that they were left out hen the passes were issued for the nnual University of Texas round-up all. Some Senate official called the ttention of those in charge to the tuation whereupon a blanket invi- tion was issued the Senators, with rrangements made for a Senate ergeant-at-arms to stand at the oor and identify them. It then as too late to invite the House GRAINS Informed circles are of the opinion that the grain price outlook isn't bullish. Tills due to the fact that European buyers are now on the sidelines. Also because of the anticipated bumper crop estimate of 650,000,000 bushels—as previously disclosed by your correspondent. But this being the season for so- called crop scares prices could jump sharply from time to time. It is also believed in commodity trading circles that a "corner" isn't unlikely in the old May contracts. Therefore, if favorable weather conditions don't rule over the next few weeks higher prices could. LOW Questions have been put to yom correspondent asking why building operations aren't expected to show substantial improvement this year One high in the construction field answers that the cost of putting up new buildings is out of proportion to the prices at which old buildings can be purchased. In addition rent- A MBULANCE Phone 400 Duenkel- Carmichael Funeral Home 321 N. Frost AUTO mm gee Us for R«Ad; Cash to it {Refinance. *Bvy a new «*. * Reduce payment*, iir Raise monej to meet bllla. prompt and pxwneous Atten- n given to ^} Applications. PANHANDLE Northern Ruler HORIZONTAL I Ulcer. 5 The pictured ruler, King 10 To deem. 12 Tea. 13 Oldest. 15 Sailor. 17 Before. 18 Right. 20 Negative. 21 Sixth musical note. 22 Tone B. 23 Grain. 25 Prodigal. 31 Hawk's disease. 33 Eagle's nest. 34 "Jo bellow. 86 Point. 87 Anise liquor, 89 Golf teacher. 40 Electrical unit 41 Stream. 42 Anger. 44 Southwest. 45 Cupola. 47 .Thorny bush. 50 Last word of Answer to Previous Puzzle NFAITIUIRIC ClRlAMELIA lAmSEARHART A MAKJ OF '// LETTERS SHOULt? y,^ STICK, TO HIS QUILL,- THE COME-DOWM E. C. SEGA* THIMBLE THEATRE Starring POFEYE LOELL, SHE VJUfVb ftBOUT WGH THIS VXJ\OE TUVb THICK 1 . YOU'RE THE FEVXOVO LOOKANG FOR -,VOO BEfcT OP P\ FRUIT STORE MftN-ftHD HE AA.SO INTERFERED L01TH WA OFF\CER WHO OOTV I WON'T REST TILL THKT \ BETTER GO OOWH TO THE POUCt ST^IOH *%"* CHIEF, DID VER MEN P\CH UP f*» POOR WHERE ARE v^ THE STREETS ? HER OESCRPTION? The Last 10 Miles Are the Hardest ALLEY OOP CH, WELL-AT LEAST IT'LL \ BE EASIER <5OIM' DOWN HILL- \ HAH.' I OUGHTA MAKE SOM5 / REAL GOOD TIME, NOW- / • —-A f~~-~^— •/ DAWGE.D IF I KNOW HOW TOOZV E\ OOT THIZOUGM HERE FOR VOU TGE.T THCOUGH HAF7A LEAV HERE AM'6OOW ALOME .IE COWM DIMNV!AN By CRANE WASH TUBES WELL, THERE AINT NONE OF THE SHRIMP BOWS IN. I GUESS WE'LL EfTHER HAVE TO WADE IT, OR. BOKKV A SKIFF'N ROW TEN MILES. mi VISIT HOME FOLKS FTER TEN YEARS ABSENCE, MRS. LULU BELLE WALLIS, ACCOMPANIED BY FRIENPS, WILL VISIT HER. PARENTS, MR. AMP MI?S. -3UPE-, SUGO5. OF PARADISE COVE. By THOMPSON AND CQUJ Prisoners of War MYRA NORTH. SPECIAL NURSE NOT SO FAST, MY FEIENDS_ MORENTIAMS, i MUST PETAIN YOU AS PRISONERS OF WAG..' JACX.'AMTOVf WE/RE SAFEj AT LAST.' THE TOWM HAS FALLBM.' THESE ARE SOLDIERS OF THE OPPOSITIOW.' BECAUSE, MY PRETTY NURSE, WE OPPOSITION TROOPS AND'THE CLAW HAS TOU&LE-CROSSED HALF OF EUROPE WITH HIS CROOKED SCHEMES.' BUT, CAPTAIM... 1 POM'T UNDER- STAMP THIS.'HOWDO SOU SO MUCH ABOLJT'THE CLAW, AND WHY PO VOL) APPEAR SO EAGER TO CAPTURE HIM? YI2A IS PUMFOUMP6D TO LEABM THAT HV5TERS STEEL &AUNTLET IS ALSO A PLACE OF COMCEAL• MEMT FOE. VALUABLE STATE SECRETS .' Charles E. Duryea holds .the trophy presented him in Springfield, Mnss., at the 45th anniversary luncheon saluting Springfield as- the birthplace ot the nulonotoile industry. The affair also honored Duryea, called the inventor of the first successful automobile built in America, and the first auto manufacturer to use pneumatic tires. M. P. DOWNS Automobile Loans Short and Long Tenrm REFINANCING Small and Large 604 Combs-Worley Bldg. Phone SSfl Exclusive dealers for Royal Typewriters. Expert repair service on all office machines. Service on all makes of safes—combination changes, etc. Pampa Office Supply Phone 288 PIUITIN AiK , HE!@H O LIEI i~- IAI i [prqRpBE JWrTlLlElAIg a prayer. 52 2000 pounds. 53 To move sidewise. 54 Measure. 55 Indians, 57 Chum. 58 Amber. 60 He rules . 61 King's home. VERTICAL 1 Therefore. 2 Music drama; 8 To vex. 4 Finish. 6 To perform. 7 Sound of pleasure. 8 Arabian shrub. 9 Orange flower oil. 11 Weird. 14 Street. 16 Form of "a." 17 He was king. 19 Pertaining to the murder of a mother by her child. 22 Furtive watcher. 23 Poems. 24 Lean. 35 To undermine 28 Indian viceroys. 27 To go to bed. 28 French. 29 Opposite of bottom. 30 His son Olav is prince. 32 Pottage. 35 A poison. 37 Sloth. 3 8 Hour. 41 To renovate. 43 Artist's frame 46 Fen. 48 To tear stitches. 49 Measure of cloth. 51 Plateau. 55 Upon. 56 South America 58 Sun god. 59 Northeast. FRECKLES AND HIS FRIENDS Ossie's Ambitious By BLOSSER GEE, WOULDN'T IT BE IF -you GOT TO BE A MOVIET /)'(. STAR AFTER ACTlWa IM THAT F=LAY FRECKLES' / T 'M A WROTE? ^-4 CIWC . H TO.' 5SSS.l^"!?i THEYtL HAVE TO GET INTO THE MCTVIP^ f rr WOULDN'T SURPRISE IF" EVEPry STUDIO W TO SIGW ME UP! BUT MO COWTRACT3 FOR ME MO, SIR/.' SURE, AW. HE WSBS 1 HE CAW (SET INTO THE MoviES y FREC«:!po r"V T ~cJSr FREDDIE HAMILTON BEG ME TO GO By MART BOOTS AND HER BUDDIES OK) SE\W CbOtit £0 tAf\ WE.X OO YOO VOtttRt VOtVSV ? operators who want long uninterrupted service at low cost-buy^he new Fhjstone |and a rdi first quality Tire! Budget plan. 600x20.. ...... $19.50 — 700x30 ........ $34,05 ^ 30x§ ......... $24,90 — 32x6 ........ $32.35, 403 W, Faster F, E. HOFFMAN SERVICE STATION J%me 1QQ

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