31 Dec 1937
Page 1
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Newspaper
Kingsport Times
Location
Kingsport, Tennessee, United States of America
Date
Dec 31, 1937
Page
1
Dec 31 1862 to Jan 2 1863 Stone's River at Murfreesboro was a fierce Civil War battle fought in cold nights. The article recalls fires, wounded, and dead soldiers and notes the battle as one of the war's least publicized yet among its 12 greatest.
Mostly cloudy with rain in eastern sections tonight and Saturday. East portions warm tonight, colder Saturday. Virginia outlook shows occasional rain tonight and Saturday, slightly warmer coast Saturday. Kentucky expected partly cloudy then colder west with occasional rain east tonight and Saturday, central area fair and colder.
Former Church Hill resident Ruth Ella Bacon appears on screen for the first time in a local theater showing of Springtime In The Rockies a musical Western with a college atmosphere. She is 23, daughter of Dora Hamilton Bacon and the late Dr C E Bacon long prominent in Kingsport and Hawkins county.
Cascade Iowa reports that on December 31 1937 state Senator Howard Baldwin announced plans to light a firecracker at the Elks club at Dubuque as the clock struck midnight. Baldwin authored the state fireworks ban set to take effect January 1.
Magistrate George B. Bradley ordered Luther Williams alias James White seventeen, of Highland Park, bound over to the next circuit term on robbery charges after a purse snatching from Mrs. W. R. Childress on Cherokee Street. Williams was arrested after a chase by Kingsport youths Robert Red Stbygnion and Earl Cochran. the incident occurred near Denver Street and Center Market.
Mixed trends mark Southeastern reports on retail trade industry and agriculture as 1937 closes. Merchants expect holiday buying to beat a mid fall lull while some units match or exceed 1936 Christmas volumes with lower cash outlays. Birmingham steel output rose about 30 percent over 1936 and tax collections in several states increased. Farm incomes grew though costs rose for bumper yields. Some areas saw flat trade and higher unemployment. Rail and travel figures showed growth as forecasts for 1938 remained cautious.
Washington reports a new congressional session will push six major Roosevelt proposals. The president will unveil his state of the nation message and send the budget early in the week. Relief measures may wait until March for economic surveys. Farm and housing bills move through committees as conferees press toward agreement.
Atlanta December 31 With Governor Rivers approving the intangibles tax act Georgia becomes the fourth southern state to levy separately on intangible property apart from real estate. The plan imposes $0 per $1,000 on stocks and bonds while other states adopt varied rates for intangibles including bank deposits and mortgages. The measure aims to attract capital back to the state, with neighboring states pursuing different tax structures to raise revenue from intangibles. Stocks exempted for some entities under certain state tax provisions. The levy yielded 2,523,114 dollars last year.
Three Georgia field gang convicts escaped from Reidsville prison and were captured in Johnson City by Deputy Sheriff H C Burgess. Names given as J P Barnes Dutton and Croaker. Barnes admitted the stolen car came from Helena and bore South Carolina plates. Barnes waived extradition while Dutton and Croaker refused.
One of the longest bull markets on record reversed in 1937, wiping out most of two years of gains. From mid August to mid October about 42 percent was cut from average stock values. The break began in March, with a sharp downturn in April and a pullback in October, as investor speculators and government actions influenced prices. The year featured rising production, high productivity, and later a market dispute between exchanges and regulation authorities. Continued on page Hight.
Roving cannons and bombs shake Teruel as insurgents try to retake the government held capital. The Bank of Spain ruins blaze while sappers detonate to clear refuges. hundreds are believed buried under collapse amid the siege.
Ford says nothing to prevent further expansion of business and outlines plans to produce a low priced tractor of unusual design in the near term. The statement comes as Fisher and others weigh recession impacts amid broader industry concerns.
Richmond dispatch notes Virginia governor designate James H. Price remains uncommitted to any office or faction ahead of his January oath. He foresees no major personnel shakeup but supports federal social security, pay-as-you-go road funding, and higher instructional state school costs without additional taxes or a sales tax. Observers expect cautious appointment plans.
Secretary Ickes and critics dispute the claim that 60 families control U.S. wealth while democracy must prevail. He urged big business to end lobbying and align with government rules, framing a showdown between economic power and democratic ideals amid a slowing economy and party-wide debate.
Washington December 31 1937 saw new faces among President Roosevelts advisers with James Roosevelt the notable inclusion as White House secretary and weekly liaison with independent agencies. Observers debated his future role while the cabinet stayed intact and changes occurred in assistant secretaries. Continued on page three
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