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Newspaper
Decatur Daily
Location
Decatur, Alabama, United States of America
Date
Jul 12, 1940
Page
2
The Alabama survey shows 1939 new loans totaling about 99 million dollars across 140,847 loans by 44 banks, with renewals 133,529 and mortgage loans 24,537. Open lines of credit were used at 46.9 percent, and the national data indicate 24.998 million credit extensions totaling 39.810 billion.
Sullivan wins the guild presidency with 78 2 3 to 66 over Kenneth Crawford of Washington. Kaufman and Pasche are reelected as paid officers amid administration criticisms. New York locals show strong Sullivan support, with Crawford receiving limited votes. Sullivan, 29, Harvard Law graduate, sits with Boston backing.
City officials opened inquiries into several groups said to be soliciting funds within the city. The probe seeks to verify amounts raised and the nature of work performed by the units under scrutiny. A long debate addressed the problem of many stray dogs and steps will be taken to remedy the situation.
Twenty seven members of the Deta Tur Business and Professional Club and six guests gathered at the UDC cabin near Moulton for a picnic supper meeting on Thursday evening. Names listed include Mrs Pearl B Crawford Earl Hodson Miss Lora Cody Mrs Mary Lee Foote and Je Mi Pickrell. The event featured decorations and post supper games.
In New York on July 12, speculative forces held a quiet market ahead of home political clarity and European war shifts. Trading was listless with small gains and losses. transfers ran around 250000 shares. Gainers included Bethlehem Steel United Aircraft Glenn Martin American Smelting American Telephone N Y Central Texas Corp Woolworth Du Pont Goodyear while laggards were U S Steel General Motors Chrysler Santa Fe Eastman Kodak Boeing Sears Roebuck Consolidated Edison Union Carbide. Prices edged mixed with July corn and other commodities down slightly.
Markets show mixed stocks with leaders narrow and profit taking in rails. Bonds hold steady as foreign exchange restricts gains with sterling dipping. Cotton trades narrowly with local support. sugar remains liquidating offset by short covering. Metals steady, tin softens. wool tops fall on commission house liquidation. Chicago wheat steady to lower. corn down, cattle near steady, hogs 10 to 25 points lower with top at 6.85.
Spot cotton in New Orleans on July 12 closed quiet with no change in sales. Low middling 9.70, middling 10.70, good middling 10.15 per unit. Receipts 1,903, stock 583,725.
In New Orleans on July 12 the market shows steady closes for cottonseed oil. Prices listed include Beach able prime summer yellow at 6.05, prime crude 5.12, with futures bids and months from July to December recorded as 5.60B 5.64B 5.66B 5.698B and 5.71B respectively.
Wheat prices in Chicago slipped fractionally on July 12 4 closing at the lowest level since September 1 last year amid ongoing European war developments. Prices closed unchanged to 5-8 for the session.
Chicago buyers received varied poultry quotes with live hens under five pounds and other weights showing adjustments. Leghorn hens around eleven pounds, Plymouth Rock and White Rock lines around eighteen to nineteen pounds, while colored varieties near eighteen and a half pounds. No change reported for other price categories.
Butter receipts total 992 917, steady. 90 centralised carlots at 26 1 4. Eggs receipts 14 173 weaker with fresh graded extras at 16 1 2 local and cars 16 3 4 firsts local 15 3 4 cars 16 1 4. Current receipts 15 1 4. Storage packed extras at 17 3 4. Other prices unchanged.
Salable cattle 75, calves 150. Demand good with prices steady. Grass heifers and yearlings 6.50 to 8.00, better kinds scarce, top vealers 9.50 and 10.00. Hogs 300 head. prices 5.75 to 6.75 for good and cold 150 lb plus, sows 4.65. Sheep 700. spring lambs higher, ewes and wethers 9.25 to 10.50, fat ewes 2.50 down.
A reporter recalls FDR joking about a third term and dunce caps. He mentions a Chicago Dance Cap Club meeting to dissolve, and hints he must review the membership list before sending a communication. He notes many former corner standers have returned to their desks.
Decatur Kiwanis Club held a Lyons Hotel luncheon with Miss Mary E. Kinter detailing Alabama crippled children programs. She demonstrated treatments and outlined the service aims and funding needs. John A. Caddell chaired the underprivileged children committee and Bob Kemp was welcomed as a new member.
He notes the corner is still not empty and proposes turning the dance caps over to women correspondents for disposal rather than keeping them in his Hyde Park library.
Delegates arriving for the Democratic national convention in Chicago discuss possible nominees. Governor E D Rivers and Senator Lucas of Illinois attend among others while Texans backing Garner push for Wright Morrow to nominate Garner. Postmaster General Farley also signals possible candidacy. Senator Glass hints at nominating Farley if he runs. Wheeler backers seek inclusion if Roosevelt is not nominated.
Earnest Pritchett of Montgomery elected state president of Alabama Rainbow Veterans. New officers include Windel Taylor, Frank Bunkley, Britt Coats, E A Johnson, Sidney Manning, William Armour and Johningham. Col Henry C Wood endorsed for national Rainbow Association president. Overseas caps with rainbow insignia approved for posts.
General Marshall testifies that registration of men ages 18 to 65 and training for those 21 to 45 is needed to reach the army strength funded by Congress. He says voluntary enlistment cannot quickly raise the regular army and National Guard, and outlines mobilization and training plans under a selective program. He urges higher trainee pay and approves extending eight months of training as insufficient.
The Salvation Army in Decatur announces a Young People's Service at 7 30 Sunday evening at the Salvation Army Ma 1331 4th Ave East by the Gospel Team of Central Baptist church Special music will highlight the program for ages 15 to 25 Dr Edwin Wyle departs for Monteagle Tennessee to deliver missionary lectures at the national assembly He preaches Sunday morning in the great Auditorium and lectures weekdays Mrs Wyle conducts devotional studies through the week.
John Butler to lead a midweek service at Ninth Street Methodist Church. The article notes British and Italian forces clashing in North Africa, Haile Selassie seeking a major role, and Ethiopian government recognition by Britain. Local notices mention births, hospital visits, and public service exams.
Funeral services for Mrs. W. J. Wallace 79 will be at 11 Saturday at McKendry Chapel Methodist Church led by Rev. J H Roberts and Rev. R N Moore. Burial will follow in McKendry Cemetery with Drinkard in charge. She died Thursday night at home of her daughter Mrs L B Sandlin. Survivors include son R B Wallace of Hartselle two daughters Mrs Sandlin and Mrs John Praytor of Birmingham 18 grandchildren and great grandchildren and many distant relatives. Grandsons will be pallbearers and granddaughters flower girls. Mrs Wallace was a 60 year member of McKendry Chapel Church.
The National Labor Relations Board ordered Weirton Steel Company to dissolve two independent unions at Steubenville Ohio and Weirton West Virginia and reinstate with back pay 17 of 300 workers. The board refused to recognize CIO stewards organizing committee as bargaining agent. Ernest T. Weir led the four year proceeding.
The plan calls for 1,200,000 men under arms rapidly with 2.0 million more in reserve, funding gaps cited in Congress. Munitions contracts total 260 million, aircraft orders reach 100 million, 25,000 planes planned with first deliveries this fall and full rollout in two years. The two ocean navy bill seeks 4.6 billion for fleet growth paired with a 40 million war risk insurance program.
James R. Cromwell democratic candidate for Senator from New Jersey said he is delighted with Wendell Willkie's nomination. He added whoever is elected will have a good president as he travels from a Dude ranch vacation to the Democratic national convention in Chicago.
The article reports France placing authority in 84 year old Marshal Petain, governing from Versailles under an authoritarian central rule after German occupation, dismantling the old provincial system while shaping a new political order.
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