Show THE SALT LAKE TRIBUNE SUNDAY MORNING C 14 New Security Index of National Cycles — Total-Issues soviet to Use Only Factory WASHINGTONupecSJUP) Registration o t securities with the securities and exchange commission during' 1636 will approximate exceeding the total value of all filings since the commission was created in June 1933 The total tor the first 11 months Of this year is $214053133 more than the precering 30 months a United Press survey showed A study of registration statements Indicated the main use proposed to be made of these funds is repayment of indebtedness Much of the new financing it was believed was influenced by the desire of corporations to take advantage of cheaper money in refunding at lower inter est rates It was indicated the money saved on interest might be used for plant extension and modernization A number of corporations probably also hope to recoup funds paid out as dividends to avoid the heavy Burlington Installs tax on undistributed corporate surMore Zephyr Trains pluses One small corporation ac tually admitted this purpose in its prospectus filed with the S E C Only 69 utility holding companies CHICAGO Dec 5— Burlington’s representing 18 per cent of the total fleet of stainless assets of ail such organizations steel Zephyrs has been enlarged by have filed with the commission in the addition of two more of these accordance with the utility holding famous sUveotreaks which gojnto regular twice daily service between charged that the act was unand St- constitutional and said they would Chicago December 18 This means a not file statements until the su- Friday total of eight of these trains preme court had decided the quesThese new twin Zephyrs seven' tion the original tration in the 11 months ending No have been serving Chicago and the 30 totaled $4966152049 Vember Twin Cities since April 1935 compared with the 1935 total of The smaller units will be immediately assigned to daily service on other segments of the Burlington system — Source" "Farm Above chart covers activity from 1875-193- 6 Economics” November 1936 Cornell university Ithaca N Y Local Increase Portion of -- Diesel-power- J Definite National Upturn By DR noticeable Increase in building activity in Salt Lake City during the past year is not just a local wave pf hypodermic prosperity due to governmental stimuli but is part of a definite upturn in the national cycle of real estate activity These cycles follow la regular pattern with an average interval from peak to peak of 17 According to the latest figures published by Roy Wenzlick of St Louis Mo in the Real Estate Analyst the building activity cycle has just rounded the corner of another 15 to journey interesting example of the operaThe last three peaks were recorded tion of economic daws Such regu1890 1924 1906 Therefore and in of wars The ar if the cycle continues the regular course it haa followed for the past Briefs 65 years or more the next peak in ec building activity willnotiikelybe — PublWtJf5 5 "tAPT reached before 1942 mado Monday of $72500’ 4 —NEWYORIC-D- feting will be per in first collateral trust bonds cent series due in 1966 of Pennsylvania State Water corporation through a syndicate headed by W C Langley A Co Proceeds of the finenclng will be used prinof the company’s cipallylienfor redemption 6 per cent gold bonds series A first The new Issue will be priced at 103 per cent plus accrued Interest NEW YORK Dec 5 — Refill sales of Pontiac Motor Car company In InNovember the comtotaled 17 455 units the largest manpany’s hlstorv H J Klinger general a total 1935 In November reported ager sold was of 14148 units The Baldwin Locomotive Works has received an order for 15 engines from the Denver A Rio Grande Western and five from Seaboard Air Line Railway Age reported also ordered 1009 box Seaboard Air Line Car Manucars from the Pullman-Standarfacturing company and the Montour Railroad purchased 600 hopper cars from the same maker ' Of 4he New York wool top Governors have decided to suspend trading exchange on Saturday December 26 and Saturday January 2 $11 The exchange willbothremain other purposes pn days opened for Effect on Employment the most significant feathis building cycle is its employment ‘Perhaps no other Industry employing so many persons fluctuates through such a wide amplitude of businese activity — from 45 per cent above normal in 1924 to 60 per cent below normal in 1933 The food industry employs more people than any other industry but food production and distribution have relatively small fluctuations The production of textiles and clothing are a little more variable but like the food Industry they rest on agriculture and consequently experience comparatively small fluctuations The automobile industry fluctuates more violently than food or clothing seriously affecting the employment situation during business depressions Coffee Market But the building industry experiTreasury Report NEW YORK Dec 6 (AP) — Coffee was ences the most violent fluctuations trading Saturday on of any of the great national indussteady during early Wall street and commission house buying It not only fluctuates vioWASHINGTON encouraged by firmness of the primary mar- tries Dec S CAP) — The Prices eased near the close under lently but the cycles are long and kets of tho treasury on December 3 Unerased Reeeipt'iir I23"o7335 31 realizing ordi-nar- y Santos opened 1 to 5 points higher and seldom correspond with the 127290279 25 balance $1437 517 720 2 of 17000 cloed 1 lo 2 higher with saleslower buslness cycle It is "thereCustoms receipts for the month $4980-14to 7 No 2 5 New opened batrs 58 fore the great variable in business lower to 1 higher and elosed-- fr Receipts for the fiscal year (since July higher Santos— employment railroad freight traffic Sales 13 750 Closing prices 1) SI 680563276 18 expenditures 20 March 10 10 25 189December May 61 3798 10 $1 200 (including 10 24 New and the like 22 Tuly and September 10110 of emergency expenditures! excess 10 December 7 06 March 6 94 May Gross No of expenditures SI 265050622 01 Consequently if the national cycle 7 20 10 7 7 00 July September debt $33 841777282 91 an Increase of of real estate activity is definitely coffee firm Santos 4s 11 $11 $1567945 25 over the previous day Gold Rio8 pot 7s 8 on its way upward toward a new Assets $1118767478098 peak as the accompanying chart clearly indicates and which will require nearly a decade to achieve the building industry may prove to be the long looked for Moses to lead us out of the present wilderness of unemployment Operation of Economic Laws Furthermore the striking regularity of the building cycle Is an Tui One of tures of effect on poll-lio- 1 0 5 Ml 'V&szyittizz: A SUNDAY M DECEMBER 6 A YL— Cheerio 6 6:30— KDYL— Morning 00— JCD Musicals T00— NBC— Harold Nagel's Rhumba Or chestra 30— NBC— Salon Orchestra f745— NBC — Zion Flag Dav Program Dr i Israel Goldstein speaker $00— NBC— Radio Pulpit conducted by Dr Ralph W Sockman $ :30— KDYL— Reading the Sunday Com- lea $:45— KDYL— Serenade -— Salt Lake Churclr of the 900 — KDYL Air the Rev Harold J Lorimer — — Zion Lutheran church principal — speaker 9:30— NBC— The World Is Yours auspices Smithsonian Institution 30 00— NBC— Moscow Sleigh Bells 30— KDYL— Musical Momenta UOO— KDYL— ' lour Piogram —Vincent York and his Orchestra Matinee 11:30— NBC — Melody Dickson Morton Bowe PM 32 00— NBC — “The Magic Key Barrett Morton powney Klein and Ruggiero Gilbert piano team violinist Osaldo Ricci ' Fresedo s Tipica Orchestra from Buenos Aires Frank Black’s Symt phony Orchestra John B Kennedy Audi 00— NBC— Metropolitan Opera tions conducted by Kdward John-vson1:30— NBC— “Grand Anne Seymour -- 8:00— NBC — Sunday Hotels THE VOICE OF THE WEST starrlrg M SUNDAY DECEMBER 5 i service railroad and financial empire which the brothers created to two George A’s— George A Tomlinson of Cleveland and George A Ball of Muncie Ind Tomlinson is the largest independfleet operator on the Great Lakes and has many other business interests Ball is a member of the family which owns the largest glass ent manufacturing plant in the world Both men are older than those they will succeed M J Van Swcr ingen was 54 at the time of his death in December-193comparaan industrialist tively young for ' O P was 67 The new rulers of the Van Sweringen empire are both past 70 It was Tomlinson and Ball who came to the rescue of the Van Sweringens in September 1935 when a banking syndicate headed by J P Morgan Sc Co was offering for sale Van Sweringen stocks held as collateral for a $40000000 loan Control Left to Brothers Tomlinson and Ball provided the money to organize a holding comMidamerica corporation pany bought tbe Van Sweringen securauction and turned control ities of the whole structure back to the Van Sweringen brothers Tomlinson and Ball not only were content but insistent that the actual management of the system which they had bought should remain in the hands of the Van Sweringens But both are' financiers of proved ability graduates of- the traditional American school Tomlinson besides his gigantic shipping interests is a director of 14 railroads a director of the Cleveland Railway company chairman of the American Shipbuilding company and president of the Cleveland Castle Special: Cragmont story: Hazel Warner con- tralto Charles Runyan organistPro8:30— NBC — 1847 Musical Camera gram Josef Chemiavsky Russian conductor Willie Morris 8:00— NBC— Marion laliey soloist with Jocf Koestner’s orchestra 8:30— NBC— Nathaniel Shilkret's Orches tra Carol Dels and Thomas L Thomas 4(X— Rwr — Trans-Radi- and News 4 15— KDYL Today Yesterday 4 du— NBC — Princess Pat Players 600— KDYL— Memory Lane — Joseph Rogers' Orchestra 5:15— KDYL— Fall Promenade— Vlo Fraser and his orchestra 5:30— NBO— Robert L “believe It or Ossie Nelson's OrNot” Ripley r chestra 5:00— NBC— Good Will Court featurinc A L Alexander as master of ceremonies d NBC — Manhattan - f3t— NBC — American Album ul Familiar Music Emo Concert 900— NBC— Symphony Rapee and the Symphony Orches--' tra Lllv Pons coloratura soprano 9:0(V— NBC— “The Jmsle Program” Gene — Rouse and the Ranch Boys— Wmcheli 915— 930— NBC— Jak Benny Mary Livingstone Kenny Baker Phil Harris’ Orchestra and Don NBC — John Nesbitt's Passing Parade 1015— NBC— Rllev and Farley orchestra Letter 10 28 — NBC— Tenth Anniversary Contest Winners 1030— NBC ——Bine Barron's orchestra 11 00— KDYL 'tanio Nev$ pihard Coudie 1105— KDYL— Eveningto VireUe & Buffalo Transit company rTDVlrI-T'11 35— NBC— Bridge Orenm'aud — Everett Hoagland and hie Born In Michigan he began his 12 00— NBC —Tom Crown's Orehestra 1200— f’orBS nreb'-'-tr- a A M and i his schooling there was expelled from 12 30— C0Tns— Ellis Kimball 1230— NBC— “Make l Believe Ball! — j orchestra Harry Reser’s orchestra high school and went west to be1 00— KSL— Good Night 1:00— JCD YL— gocki Night come 4 compuncher on bis father’s J (Paid Adv) (Paid Adv) ia 'f ‘ ' Slinul-taneousl- with the effort of California growers of the Mexican guayule plant to produce more rubber soviet Russia has launched an intensive drive to become in producing synthetic rubber within the next year a research report of the Institute of Pacific Relations reveals The Russian drive 'also coincides with the announcement of Germany that it already has succeeded In striving at a production of synthetic rubber sufficient to meet domestic needs The drive in these two foreign countries for a rubber supply is due largely to the fact that rubber with mechanized transport has become one of the basic war materials and without an Independent supply leaves any country at a disadvantage In event of war either defensive or offensive While Caliiomla guayule growers are concentraltng efforts on the production of natural rubber the report of the institute points out thgt the soviet is relying on synthetic rubber but is not entirely' neglecting the possibility of producing a certain amount of natural rubber Tbe latter effort is centered largely on tbe cultivatlbn of rubber-produciplants lncentral Asia inventions larity in spite governmentalrs interference and nn is a testimony merous other-factoof Jhe ultimate control of economic forces which can be scientifically studied and analyzed - To illustrate the definite relation between the costs of construction the annual rental bil the relative supply of homes the increasing or decreasing demand for homes the growth of population the marriage rate and the variation in the purchasing power of the present and prospective home owner when properly evaluated will completely account foirt heupward or downward trend of building activity Likewise the average life of a building the customary duration of the mortgage contract the effect of obsolescence plus the reaction time of human nature in making decisions as important sis the buying or the building of a home together determine the length of the building cycle' and explain its deviation from the ord- viet laboratories according to the report of the institute have been successful In extracting rubber from sunflower plants These experiments have developed that this process bushes of the sagyz family as in the latter the rubber is found in the roots and the plant has Jo' be torn up while with the sunflower the rubber is extracted from the leaves and stems' For the moment however according to the report of the Institute soviet Russia is counting on matching GermanybylheenLofjiext year in rubber production b- - the synthetic process Germany has announced that it Is producing 200000 tons of synthetic rubber annually If it were not for the fact that the use of rubber is constantly on the lncnease soviet Russia the report says already would be producing sufficiently to meet domestic demands at the beginning of the second five-yeplan As it is tbe production for the current year will not bequitr sufficient but by 1933 the goal is expected to be reached By 1940 the soviet counts on a production of 200000 tons which will put it on a basis of equality with Germany As a result c' the soviet steadily growing —industry rubber importations are falling off Imports reached their peak in 19?4 when 48100 tons were brought in The past year" however saw a decline of 23300 tons Meantime California growers of the guayule plant declare they are meeting with a degree of success which shows that the United States at some future time can be in production of natural rubber if a definite program is outlined and followed ar inary businese cycle The greater severity of some of our general business depressions is also largely explained in the accidental coincidence of the downward phases of the two cycles That is if the longer building cycle happens tobeon the down grade when a general business depression sets in the severity of unemployment and associated evils of serious economic disturbances is greatly accentuated and often prolonged Such for exNEW YORK Dee 5 (AP— Raw sugar and unchanged Saturday at 3 85 ample was the unfortunate coinci- was cents quiet spots and 3 80 cents for 1937 dence of the recent economic catas- quota for No sales were sugars It was rumored a cargo ofreported although Puerto trophe Ricos sold late yesterday for February or The accompanying chart Is based March shipment at 3 75 cents Futures were easier under commission on the preliminary index of national house liquidation encouraged by the easier cycles of real estate activity co- spot market After declining 2 to 3 points a partial recovery on Cuban nstructed by Roy 'Wenzlick of St there was March which sold from 2 83 to 2 82 cents closed at 2 83 cents with final Louis Mo The index is based on support prices unchanged on January and 2 points real estate transfers in relation to net Sales were lower on later positions tors population compiled monthly from 4150 Refined was unchanged at 4 80 cents - of cities reports representative for fine granulated with only a moderaW withdrawal demand reported throughout 'the United States Sugar Market THRICE WELCOME IS A GIFT FROM BOYD PARK - -- prestige-o- f (The 0 M Wyoming ranch Then he went to Detroit entered newspaper work and became managing editor of the Detroit Tribune an early Scrlpps ' ' paper in Started Duluth — In 1892 his eyes failed and he left this job He married the daughter of a Bay City Mich ship operator Together they started a shipping agency in Duluth He prospered quickly Ball’s career is Ih the same tradition He is 73 a native of Trumbull county Ohio As a young man he went with his four brothers to Buffalo' to start a glass factory This plant was destroyed by fire in 1888 The brothers then moved to Muncie Ind where they reestablished themselves in the glass business Their Muncie plant developed into the largest of its kind manufacturing glass jars known all over the world Ball’s financial interests are widespread He has holdings In Texas oil fields and in glass plants and paper box plants in several states -- result- of maintaining with your year! LET A Z E II I T II - SPEAK FOR ITSELF-TONE- — POWER— WORLD-WIDE BEAUTIFUL I ' -- Allow! Offer’ (tig Trade-I- n anres on lour Old Radios We ITfph Music Co ifil F Brtwt W ?l gift standard of quality at moderate prices So added value 'of a fine name at no greatef cost SKere are a few suggestions— HER: FOR FOR HIM: A Beautiful dinner ring set with diamonds in new and dif- ± A birthstono natural in ring nU with the stone symbolic A I her birth month f of Dainty new gold trimmed Snr TO onamel brilliants Irr compacts with $5 to $15 and and rf trimmed rhinestone A watch ciated then “ Whet ' MS no black bracelet attached than $1850 to $55 cords with the dainty or in $55 to 250 to I $25 lTf:rr:frF'8-5oto$5- $200 And why 5 not a diamond ring for him? like to wear a diamond would Everyone We have some mannish looking rings with a diamond set in A 1 11 CA onys for as little as'5 $3750 to $55 I AND THE MOST CHERISHED Cl (Diamond CRing beaut fui of greater value and TO ANY LADY GIFT of (Boyd I'Park Quality with guarantee you know you can depend upon - AND ERNO — RAPEE CONDUCTING THE GENERAL MOTORS SYMPHONY ORCHESTRA bear the All The rx Club undisputed guarantee ef Boyd Park THIS WEEK'S SUGGESTION FOR with Don McNeill SONOS MUSIC STORIES FUN Five times a week — Mondays thru Fridays KDYL PLATINUM Set 12:03 Noon with 3 Sapphires 26 PRINCESS COCKTAIL RING large Genuine Oriental Baguette Diamonds and $425 6 Diamonds ull-cut IT LOOKS LIKE PARISI TONIGHT MARJORIE 1 — LAWRErJCE — ' CREDIT— if “toTqis wiH SOLOIST-OTHE Wa FORD SUNDAY V EVENING HOUR - TMPHONT ORCHESTRA OT Conducted — 70' by JOSE ITURBI 7 to a o’clot k M s t1 ' II S L Comst fa Caoet Columbim IVehwrli - you desire it Convenient - made according- - be- welcome your charge account You can maka your selection small deposit wiH secure it— Pay the rest as you like — BOYD PARK JEWELERS MAIN STRUT ' 0 A watch that really is a watch Hamih tons Gruens and every other fine male A sturdy professional woman yellow gold Hamilton watch ill’?1' tO $ Military brushes or dresser sets in silver Mannish designs with his mono or gold gram engroved $ on every piece platinum diamond a $350 rn larger watches Diamond-trimme- For TO be more apprebearing the Sport models in could 9°d any good watch guarantee? yellow - gold round match v Perk Boyd A leather wallet or ley case in the finest comeT to Beautiful black enamel A cigarette cese $ i to $io An evening bag In color dress beaded and Re $10 to $25 designs set gold Cameos kind 0 $250 $35 frent designs Every man likes a ring of some birthstones— intaglios in massive rnnnnish A ring SOrRAM STAR OF METROPOLITAN OPfRA - RECEPTION CABINETS uniformly high you can give the mas directorships Both he and Tomlinson collect books as a hobby Tomlinson is vice president of the Cleveland baseball club and sees several jg&mer every a COUHUTUM in many banks and manufacturing firms holds Is founded upon fair dealing with three who know that a gift from Boyd Park tI I -- He buyers KDYL TONIGHT 8-- 9 Park Jewelers Boyd of discriminating generations - YOU HAVE ALWAYS KNOWN THE JEWELERS Mo'e Empire of V an Sweringens Goes to Their Benefactors at Aunt 7 :00— CBS — Sunday Morning Susan's — — News 765 CBS Press Radio 8:00 — CBS — Church of the Air The Rev Ohio (UP)— The CLEVELAND Gordon R L&hraon Baptist Staten Island New York end of the Van Swflrlngen dynasty 8:30 — K8L — The Watch Tower Judge marked by the death of O P Van Rutherford speaker 8:45— KSL-- The Christian Science radio Swermgen brings control of the 9:00— KSL — Uncle Tom and the Comic Strips 9 30 — Major Bower — L presents the Salt Lake 1030 City taoemacle choir and ornan— Franck's Choral in B minor An dante from the Sixth Sonata by Mendelssohn Stephens' “Awake My Soul” “In Thee G Lord Have I Trusted by Handel 11 :00— CBS— Church of the Air Rabbi Jonah B Wise Central synagogue New York City -- Vernon COS— Bartlett from Lon11:30— don— “The Situation In London’ 11 45— KSL— Sunday Musicale PM- in the News ' 1 2 00 — 12 15 — KSL — Inside Angle on Sports J Axelsen Tommy Interviewing guests 1230— KSL— Honor the Law 12 45— K8L — Home Harmonies Philharmonic York 100— CBS — New symphony orchestra conducted by John Barbirolli with Frank Sheridan pianist Schumann Concerto in A minor Rossini's Overture to “The Siece of Corinth” Cesar Franck’s D minor Symphony CBS— “Your Unseen Friend 300 — 3 30— KSL — Ports of Call 4 00— CBS — Joe Penner Jimmy Offer's orchestra Gene Austin orchestra 4:30— CBS— Ruhfnoff and hisPeerce Virginia Rea and Jan Fashion Parade' 500— 5 15— KSL— The Magic Island YS 30 — KSL— Artists' Recital 5 4 5— KSL— “Personality Pointers 6 00— CBS— “Open House" Nelson Eddy orchestra Pasternack'S Josef FranCift White 8So— JKSL— “Exploring America with Carvefh Wells ” TTOO — CBS — The Bunds Evening Hour orchestra and chorus symphony under direction of Jose Iturbi with insoloist Marjorie Lawrence formal' talk by W J Cameron — Fine CB Community 800— Original Wendell Hell with th" auJienre Milton Berle Billy Jones and Ernie Hare Evening Musicale 000— CBS — Eddie Cantor Jimmy WalIhigton Jacques Renard's orchestra- Bobbte bin -- Leslie Howard guest 930— KSL — Sunday evening service of the L D S church Duane G Hunt of 10:00— KSL — Mons th Cathedral Madeleine CBS— Vincent Lopes orchestra 1015— 10 30 — CPS— Dick Stabile's orchestra International News 11:00 — KFL — Sunday Evening on Temple Frank Ancr at the tab-ernSquare organ William Hardlman By PENRY WOOD SAT'T‘'FRAIfCISCOrP— ng DILWORTH WALKER’ Wall Street NSW YORK Dm 8 (AP— Moderate airalnut ’ the dollar were recorded jMlIne lor most foreign currencies today Reports of new rifflcultles between Japan tnd China Influenced the Japanese yen The pound which dropned 12 of a cent sterling was off Mi of a cent French francs of a cent and the Netherlands lipped 00 Swiss was down 02 of a cent rnllder were quoted 01 of a cent down e W'hile the Canadian dollar pushed up f a rent In London the dollar closed at 4 90 to cent the nound up It finished In Paris at the equivalent of 4 658 cents to the franc agaius tthe New York overnight rate Of 4 661 cents Closing rates follow: Great Britain In dollars: others In cents: Great Britain demand 4 90 cables 4 90 France demand' 60riar bills 4 89 4 654: cables 4 65 Italy demand 0 261 cables 5 26 Demands: 16 92 Germany free 40 24 Belgium registered 20 65 travel 2180 Holland 64 50 Sweden 25 27 Norway 24 62 Denmark 2188 Finland 2 17 8wlter-lan- d 22 98 Spain unquoted Portugal 4 6 90 Greece 18 86 Poland Czechoslovakia 3 53 Jugoslavia 234 Austria 18 73n Hungary 19 80 Rumania 32 87n 75 Arcenttna Brasil 8 80n Tnkvo 28 46 Shanghai 29 80 H&nvknng 30 66 Mexico City 27 88: Mentrcnl In New New York In Montreal Yark 10006 09 93 ' Nominal A ' Rubber-Soo-n Six-Billi-ons -- 6 1938 DECEMBER “MAIL ORDERS RECEIVE PROMPT ATTENTION THE MARK "BOYD PARK" — yS SAIT LAKE CITY YOUR GUARANTEE " |