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Newspaper
Decatur Daily
Location
Decatur, Alabama, United States of America
Date
Jan 12, 1940
Page
7
Senator Wagner announces social security board approval in principle for government sold old age annuities through post offices. The plan envisions annual or installment payments, lower government cost, and 20 to 25 year maturities. He favors resurveying unemployment benefits to cover illness-related quits.
Nine year old Thomas Oscar Marsh suffered a severe injury to his left thumb when it was mashed in a school bus door about 8 o clock Friday morning. He was treated at Dr A M Roan's office and returned home on Somerville route 1.
Washington January 12 13 million dollars allocated by the agriculture department for construction and maintenance of highways trucks and other roads in national forests.
The stock market drifted lower with industrials adding only small gains while steels motors and aircrafts fell. Some late support pared extreme losses but many quotes remained near the bottom. Volume topped 1,000,000 shares over five hours as fears of new taxes to fund national defense weighed on sentiment.
Markets show stocks and industrials down with bonds and commodities mixed. Cotton and wool weaken while hogs rise. New York cotton futures close lower and spot prices ease.
In New Orleans on January 12, weekend liquidation and weak reports from cotton goods markets pushed prices down. Closing levels were steady across several contracts, with declines of a few points from session highs and lows, leaving overall mixed to down results for the day.
Cottonseed oil closed steady in New Orleans with bids listed for prime summer yellow and crude. Prices show January to July futures: 630B January, 6.39B March, 6.51B May, 6.62B July with bids: prime crude 5.75 nominal and other values around 6.95.
Spot cotton in New Orleans closed steady but 10 points lower. Trading volume 8,418 bales with receipts at 16,660 and stock at 911,236. Quotations: low middling 9.88, middling 10.98, good middling 11.33.
Prime cottonseed meal futures (41 per cent) closed easy in Memphis. Closing prices for January 29 show 29.50 Meh 28.25 May 27.75 July 27.60 Sept 26.55 with 3,280 sales.
Wheat prices fell about two cents a bushel before buyers stepped in for a modest recovery. Prices closed lower across May and July contracts with May at 98 3 4, July 96 1 2 5 8. Corn and oats also declined in early trading.
Chicago markets report no cash wheat sales. Corn prices range with No 3 at 57 1 2 to No 2 white at 63 1 2. Oats and soybeans show varied quotes, barley and timothy seed listed with nominal ranges, and several forage crops named with wide price bands.
In Chicago on January 12 butter priced at 557 006 with weakness in creamery grade and a 93 score. Carrot products and eggs show steady or mixed readings with various standard and extra classifications noted and prices unchanged overall.
Poultry prices in Chicago on January 12 show live hens steady with gains for 4 1 2 lb hens up to 14 1 2, under 4 1 2 lbs 14 1 2, leghorn hens 10, Plymouth Rock springs under 4 lbs 16 1 2, small colored ducks 8, white ducks 8 1 2, young tome turkeys under 18 lbs 13, other prices unchanged.
Salable cattle 125 calves 75. Steady in most divisions. Common and low medium heifers and steers 6.50 to 7.50, medium and good short fed steers and yearlings 6.00 to 8.50. Recent sales strictly good to 9.50. Beef cows to 6.50, common 5.50 down. Cannery and other notes indicated.
Lauderdale County officials announced approval of WPA projects totaling 499 162 for road and bridge work and 9 345 for an office building and warehouse. The plan includes paving Cloverdale to the Tennessee line and Waterloo road extensions, with grading and drainage to Cross Roads Lexington route funded by the state highway department.
Alabama politics report Rushton seeking renomination as Democratic national committeeman. He notes role in two of Senator Bankhead’s campaigns and aims to work for Bankhead’s interests. Other filings include State Senator Malone as alternate at large candidate, and Vera Stake ly as delegate hopeful. G C Boner files for circuit judge race No 9 in Wil aberton (Wifefton) county.
Joe Hall formerly of Decatur and now based in Tallahassee Florida visits his old hometown. After ten years as a professional boxer he rests following a long campaign in the ring. He and his wife stay at the Tennessee Valley Hotel and urge old friends to contact them.
Selma Mayor Lucien Burns filed a proposed $60,000 improvement program with the Works Projects Administration. The project includes paving of streets with concrete and bituminous material, construction of storm sewers and curbs, and lowering and extending water mains.
Berlin reports Lieut Claus Krupp von Bohlen und Halbach, 29, second son of the Krupp industrial family, was killed in action January 10 while serving as an aviator. His death was announced by the Krupp family today.
Ossining N Y January 12 Two members of a kidnap gang died in Sing Sing's electric chair for the slaying of Arthur Fried of White Plains whose body was never recovered. The condemned were Demetrius Gula 31 and Joseph Sacoda 28 indicted in the Fried kidnapping and connected cases involving Benjamin Farber and Norman Miller. John Virga 35 and William Jackins 27 were also named in indictments for kidnapping.
Admiral Harold R. Stark told the House naval committee that the Navy would ask Congress for authority to build larger cruisers than the 10 000 ton class if needed to counter foreign pocket battleships. He noted treaty size limits may still apply and said revisions to the expansion plan reduce ships from 95 to 77 while skipping battleships.
Edward A. O Nei l, federation head, says parity payments based on Dec 15 prices would total full parity and pledges willingness to raise taxes if needed after Congress avoided such steps in prior sessions. Meanwhile the House Naval Committee reviews Admiral Harold Stark as part of a proposed 1.3 billion naval building program while others urge caution on the 1.8 billion defense budget.
Treasury disclosure states agents will collect federal income taxes for the last three years from state unemployment compensation office employees paid with federal funds. These workers, once state employees, were classified as federal employees and taxed on federal money. tax period varies by state from one to five years. statute of limitations allows back taxes for up to three years 1937 39 inclusive.
Secretary Wallace defended the reciprocal trade accords as worthwhile and said no farm import duty cuts harmed American agriculture. He rejected claims of selective sacrifices in negotiations and noted that abandoning the program would force return to tariff protection. Hull argued the plan did not restore farm income to previous highs.
Congressman Starnes and colleagues urge tight immigration policy and school control, arguing the Dies Committee must continue probes into foreign financed groups. He defends private enterprise and work rights while affirming capitalistic principles and the need for congressional funding to finish investigations. Mrs Starnes accompanied him to Marshall county.
Alabama Representative Joe Starnes told a midwinter region conference that communism and other un-American forces pose a threat to U S peace. He said Dies committee findings on subversive activities would likely extend for another year and urged vigilance against organized efforts to undermine government.
Joan Bennett, 29, a motion picture actress, and Walter Wanger, 45, a producer, were married today in Phoenix by Justice of the Peace Westfall. Witnesses included Margaret Ettinger and Mildred Niles.
Wilbur Batley ill at home. Rev L J Kaylor to speak at Westside Presbyterian at seven. Mrs Charles Harvey flu at Sherman street. Miss Kathleen O Bannon resumes at State Employment Service. Local residents travel, visit, and attend services as Dr Edwin Wyle and Rev Bebe Patton preach. Hospital updates include Mrs Chester Sartor flu and Miss Mahaffey with influenza.
The report notes British claims of "successful" missions and a German denial of damage from a British attack as production of a long range fighter expands. It mentions Russia pressing from Finland into the Arctic, Finnish forces defending behind the Mannerheim line, Danish volunteers joining, and Balkan moves over postwar territorial questions. Japanese Premier Abe plans resignation with his cabinet expected to follow.
Finnish officers claim the Red Army's 163rd division was virtually destroyed in battles December 29 and 30 near Suomussalmi. Russians used trucks for supply while sledges were common. poor ski ability and limited information plagued the attackers. Nearly 400 Russians were captured or wounded in a field prison. some women nurses were taken prisoner.
The Alabama personnel board announced a holiday for state employees on January 19, marking the birth anniversary of Robert E. Lee. The decision affects Montgomery and other offices statewide.
A 100000 strong Mardi Gras style rally in New Orleans supports attorney Jimmie Morrison in the Democratic primary against Huey Long allies. The protest features Long regime critics, federal probes of Long aides, and a float lampooning Governor Maestri and Leche with signs and an egg-throwing incident. Morrison speaks afterward promising change.
Alabama reports a 25 percent rise in tourist travel and hotel occupancy to record highs. Officials credit the new advertising campaign highlighting the state's recreational, natural, and industrial resources to lure visitors to Birmingham and across the state.
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