27 Jun 1938
Page 1
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Newspaper
Amarillo Daily News
Location
Amarillo, Texas, United States of America
Date
Jun 27, 1938
Page
1
Analysts debated whether last week's stock surge signals a cycle turn or a false start. They noted stock prices often lead business indicators but lack of a fundamental slump in 1936 shows modest improvement, with inventories easing and wholesale foods down 14 percent from 1937.
President Roosevelt announced relaxed banking regulations to spur about three billion dollars of private money into business. The changes allow long term loans over nine months if sound, permit investment in unlisted bonds with examiner proof of worth, and adjust capital deductions for doubtful and loss loans. The reforms aim to widen credit while maintaining solvency.
Revelations of a broad German spy ring in the United States unfold as G-2 uncovers a chain of arrests and indictments. Key figures include Ves, Erich Glaser, and Ignatz Griebl, with Maj. Joe N. Dalton spearheading the investigation and a redheaded hairdresser, Johanna Hoffman, central to the probe. Tomorrow’s installment promises further disclosures.
The edition teases Ray Tucker’s National Whirligig, editorials by Washington ace, and Panhandle Plains commentary. It notes Roosevelt experts predicting a late mood shift and previews the American League all star lineup for a July 6 game.
More than 100 children were burned or injured when a stand selling toys and balloons caught fire during a public celebration in Versailles. An explosion of the balloons sparked the blaze as crowds gathered on the main street to honor Larre Hoche, Napoleon’s general. Police suspect a lighted cigarette started the incident. hospitals reported no critical injuries.
The News-Globe marks a 64th anniversary of the Adobe Walls clash with rifles, two gun Bat Masterson and Chief Quanah Parker among the figures cited. A detailed 300+ page Panhandle history edition, with pictures, is set for August release. orders are being taken now for 50 cent copies mailed nationally before July 28.
Mrs. Albert Proctor of Burlington plunged into the Connecticut River at New Haven to land her catch and emerged with a 21 inch, three pound trout.
The Spanish government would drop plans for bombing Italian and German cities in exchange for three concessions from France and Britain. A neutral commission to fix blame for air raids is to begin operations this week, with mediation talks and pressure from Mussolini discussed. On the ground, Franco's forces push toward Valencia and Burriana as government lines falter in southern Spain.
Checks received from the Bureau of Agricultural Economics total for two tracts near Umbarger Randall County and Amarillo landowners Dr. and Mrs. Isaac Rasco and Barney H. Conner. The parcels cover nearly 2500 acres including the Buffalo Dam valley site and the Umbarger project's dam area. The plan aims to convert sub marginal land into a recreational area serving eight counties.
Kathry n and Edna Cockley plan a 2600 mile bicycle journey from Gallion Ohio to Oakland California to visit an aunt. They aim for at least 50 miles daily, traveling mornings, resting during heat and avoiding night rides or Sundays. They carry only bare necessities in a basket and are prepared for all weather.
New hope rose for 21 year old Medill McCormick searchers when officers on Santa Peak reported what seemed a body high on the mountainside above the spot where his companion Richard Whitmer’s body had been found. A team of three climbers and state police used a solar telescope to view the area as rain-swept conditions hampered the search.
Four watch crew members on duty in the Manhattan Queens vehicular tunnel escaping a blaze 150 feet under the East River. One man suffered slight smoke inhalation as fire from hob nails or faulty wiring ignited straw and sawdust packing, spreading to timbers but kept to a 12 foot chair area.
Alfred Cannon, 91, Childress’ only living Confederate veteran, will travel to Gettysburg, Pennsylvania, for a joint Union and Confederate veterans reunion from June 29 to July 6. He enlisted at age 15 in the Confederate Army of Tennessee and has lived in Childress since 1908.
Amarillo car dealers promote a Joe Penner style sale offering reconditioned used trucks at year’s lowest prices. See Globe News Want Ad pages for a complete selection of track and car bargains and other reconditioned vehicles.
In the Tri-State area, about 90 postmasters hold lifetime posts under a recent Congress act, ensuring annual incomes from 1,300 to 4,000 dollars for life or until they choose a new path. The piece notes opposition from Republicans and lists first second and third class offices across Texas Oklahoma and New Mexico with specific cities.
A Panhandle tragedy leaves three dead after an Amarillo aviation crash and a Paducah water rescue ends in drowning. David Jackson, 23, was killed piloting an old Commandaire aircraft northeast of Municipal Airport. Payne, 50, died while attempting to save his 16-year-old daughter Wanda at a stock tank near Swearingen. Wanda also drowned.
Winners in Amarillo's Baby Beauty and Health Contest will receive silver loving cups during a coronation pageant at Municipal Auditorium on July 1. The event crowns a city king and queen by popular vote via 25 votes per ticket sales.
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