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TREASURY DEPARTMENT
TEEASUEY DEPARTMENT
WASHINGTON
FOE IMMEDIATE EELEASE,
Wednesday, December 15, 1937.
preSs Service
No. 1
0
The Treasury received today the sura of $232,143.00 from the
Government of Finland, representing a payment of principal in the
amount of $69,000 and the semi-annual payment of interest in the
amount of $144,112.50 under the Funding Agreement of May 1, 1923,
and $19,030.50 as the ninth semi-annual annuity due under the
Moratorium Agreement of May 23, 1932.
This payment represents
the entire amount due from the Government of Finland.
The payment
of principal and interest consisted of $210,000*00 face amount of
2-l/2$ Treasury Bonds of 1949—53, which were accepted at par,
$2,625.00 accrued interest thereon and cash for $487.50.
The
annuity of $19,030.50 due under the Moratorium Agreement was paid
in cash.
The Treasury also received today from the Government of
Hungary through the Federal Eeserve Bank of New York $9,828.16 in
cash, as a payment on account of the funded indebtedness of the
Hungarian Government to the United States.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, December 15, 1937,
Press Service
No, 12-0
The Treasury received today the sum of $232,143*00 from the Government
of Finland, representing a payment of principal in the amount of $69,000
and the semi-annual payment of interest in the amount of $144,112.50 under
the Funding Agreement of May 1, 1923, and $19,030.50 as the ninth semi-annual
annuity due under the Moratorium Agreement of May 23, 1932.
This payment
represents the entire amount due from the Government of Finland.
The pay
ment of principal and interest consisted of' $210,000*00 face amount of
2-l/2$ Treasury Bonds of 1949-53, which were accepted at par* $2,625.00
accrued interest thereon and cash for $487.50.
The annuity of $19,030.50
due under the Moratorium Agreement was paid in cash.
The Treasury also received today from the Government of Hungary through
the Federal Reserve Bank of New York $9,828.16 in cash, as a payment on
account of the funded indebtedness of the Hungarian Government to the
United States.
— oOo—
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won RELEASE, HORSING
Tuesday, December gl, 1959*
pr»«s Service
Secretary of the Treasury Morgenthau announced last evening that
the tendere for #30,000,000, or thereaboute, of 91-day Treasury bills, to
ho dated Dec«*»®- Eg, 1959, and to mature March 53, 1938, which «ero
offered on December If, were opened at the Federal Ha serva hanks on Dec ataber £0,
The details of
Total applied fbr
Total accepted
this issue areas follows!
- #158,508,000
50,093,000
Hange of accepted hides
High
- 100.
***
Average price
*
-
99*991 Equivalent
99*994
*
rat# approximately 0*115 percent
»
*
o.lOB
*
(SO percent of the amount bid for at the low price was accepted)
TREASURY DEPARTMENT
Washington
Press Service
No. 12-1
EOR RELEASE, MORNING NEWSPAPERS,
Tuesday, December 21, 1937.____
12/20/377
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 91-day Treasury hills, to he
dated December 22, 1937, and to nature March 23, 1938, which were offered
on December 17, were opened at the Federal Reserve banks on December 20,
The details of this issue arc as follows:
Total applied for
Total accepted
- $126,308,000
50,098,000
Range of accepted bids:
High
- 100.
Low
99,971
Average price
99.974
Equivalent rate approximately 0.115 percent
11
"
"
0.102
”
(50 percent of the amount bid for at the low price was accepted)
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fon w m m ,. rn m im mm?Amts,
Tus sday , Dec «über 28, 1937.
Secretary of the Treasury .lorgenth au announced last stoning that
%b*
tenders for #50,000,000, or thereabouts, of 91~day Treasury hills, to
be dated December 29, 1939, and to mature March 30, 1938, which sere
offered on December 2i, sere opened at the Federal Be serre banke on
Dee amtier 29.
The detalle of this issue are as follows:
Total applied fOr
Total accepted
* #140,898,000
«
90,099,000
Bangs of accepted bide:
low
Arerageprice
-99.984 Bruiraient rateapproximately 0.063 percent
«* 99.973
*
•
•
0.109
»
- 99.998
w
»
«
o.lOl
■
(80pereant of the amount bid
for at the low prioo was accepted)
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, December 28, 1937.
12/27/37.
“
“
Press Service
No. 12-2
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 91-day Treasury bills, to be
dated December 29, 1937, and to mature! March 30, 1938, which were offered
on December 24, were opened at the Federal Reserve banks on December 27.
The details of this issue are as follows:
Total applied for
Total accepted
-$140,292,000
- 50,077,000
Range of accepted bids:
High
- 99.984
Low
- 99.973
Average price
- 99.975
Equivalent rate approximately 0.063 percent
H
»■
11
' 0.107
»
'$
11
n
0.101
»
(80 percent of the amount bid for at the low price was accepted)
oOo—
Secretary Morgenthau and Minister of Finance
Suarez announce that they have reached a mutually
satisfactory understanding on common problems before
the two Treasuries.
Arrangements have been made
n
---the continued stability of peso-dollar exchange, thereby
facilitating orderly exchange transactions.
Likewise, mutually satisfactory arrangements
have been made with regard to Mexican silver.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, December 31» 1937.
Press Service
No. 12-5
Secretary Morgenthau and Minister of Finance Suarez announce that
they have reached a mutually satisfactory understanding on common problems
before the two Treasuries.
Arrangements have been made looking to the continued stability of.
peso-dollar exchange, thereby facilitating orderly exchange transactions.
Likewise, mutually satisfactory arrangements have been made with
regard to Mexican silver.
— oOo—
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WASHINGTON
FOB H X J 5A8E , W M I M H l i S P A I » ,
Tuesday, January 4 , 1958.______
Frees Serties
I%.— wf
1/5/55
SMfitarjr
et
the Tree flair Morgentfcau announced le et evening that the
tendere fer 150,000,000, er thereabouts,
et
91-day Treasury bills, te be
dated January 5 and to nature April d, 1958, which were offered on Oteenber 31, 1959, were opened at the Federal Reserve bonks on January 5«
The details of tills 1 eme are as follows;
Total applied for
Total accepted
- #155,999,000
50,000,000
Benge of aeeqpted bids;
High
Lew
Average price
* ft*998 Equivalent rate apprestastely 0.052 percent
- 99.999
*
«
»
0.083
*
- 99.984
*
*
•
0.045
•
TREASURY DEPARTMENT
Washington
FOR RELEASE MORNING- NEWSPAPERS,
Tu g s day, January 4, 1938.
Press Service
No. 12-4
I73738-
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 91-day Treasury bills, to be
dated January 5 and to nature April 6, 1938, which were offered on December
31, 1937, were opened at the Federal Reserve banks on January 3.
The details of this issue'are as fellows;
Total applied for
Total accepted
- $153,977,000
50,000,000
Range of accepted bids;
High
- 99.992
Low
99.979
Average price
- 99.984
Equivalent rate approxi: ately 0.032 percent
it
»
"
0.083
"
n
"
"
0.065
"
— oOc
IMPORTS OF CATTLE WEIGHING LESS TRAM 175 POUNDS EACH AND OF C A T O S
H I G H INC 700 POUNDS OH MORE EACH AND NOT SPECIALLY PROVIDED FOR»
WITHIN QUOTA LIMITATIONS OF THE CANADIAN TRADE AGREEMENT
During the Calendar Year 1037
Customs District
Quota Limitation
f
i
f
A
s
s
CATTLE LESS THAN
175 POUNDS EACH
'Jan*' 1 to June 19
( » « « i ________
:
$
:
;
CATTLE 700 POUNDS
OR MORE EACH
Ian* 1 to Aug* 14
(Head) (
51.933
155.799
8,987
8,258
2,150
2.326
37,789
2,013
10,532
876
56
73
78
12,238
51,041
4,498
2,614
809
293
1,177
473
7.433
50,722
131,193
273
602
326
10
6,514
10,312
99
4,598
5|0S9
1,211
24,606
FROM CANADA
Buffalo
Chicago
Dakota
Duluth and Superior
Maine and New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana and Idaho
New York
Oregon
Philadelphia
St* Lawrence
Vermont
Washington
Total from Canada
m
3,393
2
121
2
294
1,552
120
23,049
460
FROM MEXICO
Arisons
El Paso
St* Louis
San Antonio
San Diego
Total from Mexico
as
(Prepared by Division of Statistics and Research, Bureau of Customs)
The Coamiss loner of Customs today announced final figures show
ing imports of cattle weighing lass than 175 pounds each during the
period January 1 to June 19, 1937, and inporta of cattle weighing 700
pounds or more each and not specially provided for, during the period
January 1 to August 14, 1937, on which dates t| m tariff rate quotas nvvv TaM
'ILa*A
provided for under the Canadian Trade Agreement were filled for the
d w
•>
9
calendar year 1937, as followss
TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING NEWSPAPERS,
Thursday, January 6, 1938._____
1/5/38.
Press Service
No» 12-5
The Commissioner of Customs today announced final, figures showing
imports of cattle weighing loss than 175 pounds each'during the period January
1 to June 19, 1937, and imports of cattle weighing 700 pounds or more each and
not specially provided for, during the period January 1 tc August 14, 1937, on
which dates the tariff rate quotas provided for under the Canadian Trade Agree
ment were filled for the calendar year 1937, as follows:
Customs District
: CATTLE LESS THAN .
: 175 POUNDS EACH
: Jan. 1 to June 19
:
(Head)
Cuota Limitation
:
:
:
:
CATTLE 700 POUNDS
OR MORE EACH
Jan. 1 to Aug. 14
(Head)
51,933
155,799
8,987
3,393
2
121
—
2
294
1,552
120
23,049
468
8,258
2,150
2,326
37,789
2,013
10,332
276
56
73
78
12,238
51,041
4,498
2,614
809
293
1,177
473
7,433
50,722
131,193
273
602
326
10
6,514
10,312
99
4,592
3,089
1,211
24,606
PROM CANADA
Buffalo
Chicago
Dakota.
Duluth and Superior
Maine and New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana and Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vernort
Washington
—
Total from Canada
PROM MEXICO
Arizona
El Paso
St. Louis
San Antonio
San Diego
Total from Mexico
-oOo—
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c
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
'^iuadafT, January
1938
announced today
iS&t
n
James F. Ryan had been appointed one of the two Assistant
Chief Counsels for the Bureau of Internal Revenue.
Mr. Ryan has been Head
of the Interpretative Division of the Chief Counsel* s Office in the Bureau
of Internal Revenue, and his advancement to the position of Assistant Chief
Counsel was stated to be in keeping with the general policy of promoting
career men.
John Philip Wenchel was appointed Chief Counsel for the Bureau
of Internal Revenue last September after 23 years as a classified civil
service employee in the government service.
John W. Burrus, who was at
that time appointed to the other Assistant Chief Counselship, had been
continuously in the government service as a classified civil service
employee for 20 years.
TREASURY DEPARTMENT
Washington
FOR IMi£3DIAT3 RELEASE,
Wednesday, January 5, 1938.
Press Service
Ho. 12-6
Secretary Morgenthan announced today that James F. Ryan had heon
appointed one of the two Assistant Chief Counsels for the Bureau of Internal
Revenue.
Mr. Ryan has been Head of the Interpretative Division of the
Chief Counsel*s Office in the Bureau of Internal Revenue, and his advance
ment to the position of Assistant Chief Counsel was stated to he in keeping
with the general policy of promoting career men.
John Philip Venchel was appointed Chief Counsel for the Bureau of
Interna.1 Revenue last September a,fter 23 years as a classified civil ser
vice employee in the government service.
John W. Burrus, who was at that
time appointed to the other Assistant Chief Counsolship, had. been con
tinuously in the government service as a classified civil service employee
for 20 years.
-<-o0O'
-
10
-
"the Public Health Service has a responsiblity both to extend the boundaries
of knowledge concerning the prevention and alleviation of disease and to
assist in the better application of existing knowledge.
Act provides a sound basis for a national health program.
The Social SecurityThe provisions of
this Act should be extended to provide further cooperation with the States in
dealing more effectively with such important problems as syphilis, tuberculosis,
cancer, pneumonia, and mental diseases,
"The acute infectious diseases have declined rapidly during the past
years under the impact of public health effort.
There hasbeen an increase,
however, in many of the diseases of adult life, particularly the chronic dis
eases,
The emphasis of public health services needs to be shifted, therefore,
to the prevention and treatment of the chronic diseases, particularly among
the underprivileged part of the population who are unable individually to
provide themselves with needed services.
This field now appears to be the
most pressing and the most promising as the object of the attack,»
>>;_
- 9 -
OTHER ACTIVITIES OF IMPORTANCE
Facilities at the first hospital constructed by the U. $. Public Health
Service for the treatment and study of drug addiction at Lexington, Kentucky, were
further developed to meet the normal capacity of 1,000 patients*
During the fis
cal year, this report'states, 1,507 patients were admitted and 1,292 were dis
charged.
The bulk of these patients are federally convicted narcotic prisoners,
while a very few are self-committed,narcotic addicts*
Intensive scientific re
search is being conducted 4on the grounds of the hospital in an attempt to fathom
the cause of the physiological addiction which takes place in the use of morphine
and other opium derivatives, as against the psychological addiction of other
narcotics*
A complete psychological, psychopathic and general rehabilitation
schedule is maintained with the patients, in an attempt to concentrate on their
potential readjustment rather than merely regarding them as prisoners of the
Government*
A second such hospital is in the process of construction at Fort
Worth, Texas, and will be designed to care for such patients from the territory
west of the Mississippi River*
The U. S. Public Health Service grew from the Marine Hospital Service,
which was established in 1798 under John Adams as the second President of the
United States, to the far flung organization which it is today.
In the past
fiscal year, according to Dr. Parran, the twenty-five Marine Hospitals through
out the United States showed a weekly average of approximately five thousand
patients, not including the resident colony of approximately 550 lepers at the
National Leper Home in Carville, Louisiana, in which any leper in the United
States may reside as a ward of the Federal Government.
"In addition to providing medical care for merchant seamen and others
legally entitled to such care," Dr. Parran states in summarizing this report,
8
-
hitherto unrecognized*
-
Continued study of Rocky Mountain spotted fever indicates
that the disease has wider distribution than has been previously reported*
Suf
ficient preventive vaccine was prepared at the Rocky Mountain Laboratory in Hamil
ton, Montana, for the vaccination of 80,000 persons*
Studies in occupational diseases among various industries, together with
accident hazards, were intensified during the past fiscal year, this report indi
cates, and the findings, made available to health officers and other interested
persons throughout the United States have already served in some States, and it
is hoped will serve in others, to point out the tremendous need for a more uni
form understanding and conception of the problems which arise from the diseases
and accidents which exist throughout the manufacturing and industrial world*
Studies in the field of cancer research were continued, with particular
emphasis on the effects of carcinogenic agents, and the effects of dietary control
on rats*
(NOTE: The passage of the National Cancer Act, the establishment of the
National Cancer Institute in the U. S* Public Health Service, and the creation
of the National Advisory Cancer Council, occurred immediately after the close
of the fiscal year.^ Reaauil
l
f
e
s
'
p
e
r
in
your files*)
THE NATIONAL HEALTH INVENTORY
With a $4,000,000 grant from the Works Progress Administration, the National
Health Inventory, comprising the investigation of health conditions, and the
relation of those conditions to economic status, among 3,000,000 individuals in
90 cities were continued and brought nearly to completion.
The most extensive
survey of its kind ever made, according to the Surgeon General*s report, the
current tabulation of the data is expected to contribute a significant document
to the archives of public health.
within the coming two weeks*
Results of this Survey are to be made public
- 7 -
allotments to raise the burden unexpectedly thrust upon them.
Delays were
avoided, clean-up work went forward, and it is possible, Dr. Parran states, that
the extraordinarily low incidence of sickness, contamination and loss of life was
in a measure made possible by this procedure.
Without such intent being implicit|
in Title VI of the Social Security Act, it is apparent that from time to time
these funds will undoubtedly help to prevent calamitous results in the public
health due to major catastrophes of this kind.
The joint action of Federal,
State and local agencies of all types at 1fche time when this flood hit the States
with practically a 1st minute warning, the Surgeon General indicates in his re
port to the Congress, illustrated how the increased cooperation between the
U. S. Public Health Service and State and local health departments, as brought
about by this n e w legislation, made possible a swift program of relief hereto
fore unknown in this country.
SCIENTIFIC RESEARCH
In conformity with the belief that the greatest contributions to the relief from human suffering from disease come from the efforts 4» those engaged
in research,' much time W a s expended in all lines of endeavor in the field of
infectious disease, with marked results.
The demonstration of endemic typhus
in a rural area of Alabama, as an example, expands the problem of control, as
this disease was formerly considered peculiar to towns and cities.
The hereditary!
transmission of relapsing fever spirochetes from experimentally infected female
ticks was demonstrated, and a developed picric*acid-alum spray against poliomyeli
tis was used by 2,000,000 persons with encouraging results.
A special study of
tuberculosis in two southern counties demonstrated that the rates of incidence
and mortality were very much higher in the
j.
here livihg conditions were ?/!
better - which points to factors in the prevalence and mortality of the disease VI
- 6 -
An integral part of any State or local public health program is the main
tenance of adequate laboratory facilities or the establishment of such facili
ties where none exist*
As the laboratory is the central point from which all
research and investigative work is done in connection with blood, body excreta,
samples of milk, water, etc., it must be so set up and staffed that its findjr/'' ings are accurate and it is equipped to handle varying volumes of work, rUndftr
m
r- Ljjf the impetus-oaf funds made available by the Social Security Act, the Surgeon
$4' General's report states, 54 States budgeted $528,155.59 for this purpose.
# '
EMERGENCY WORK IN THE FLOODS OF JANUARY AND FEBRUARY
1957, WITH ITS RELATION TO SOCIAL SECURITY
Funds made available to the States under Title VI of the Social Security
Act are allotted quarterly, and any balance remaining quarterly may be re
budgeted for the continuation of the intended project or, with the approval of
the Surgeon General, utilized for new projects.
This provision of the Surgeon
General1s regulation* proved singularly significant in January and February,
1957, when floods in the Ohio Valley constituted a major emergency.
health needs in these areas pyramided to unforeseen proportions.
Public
Sewer systems
were destroyed, water was polluted, sanitary facilities were rendered useless
by the thousands.' Tens of thousands of people were made either temporarily or
permanently homeless, and were in need of public health preventive measures
against typhoid and other intestinal infections, pneumonia, exposure, «*■Children had to be guarded against the possibility of mass illness in epidemic
form.
The United States Public health Service dispatched experienced public
health administrators, doctors, and sanitary engineers into the locality, and
rendered other specific advisory assistance in the matter of water purification
laboratory standards, etc.
Many of the States in the afflicted areas tele
graphed for permission to use unexpended balances from their Social Security
- 5 -
The method of allocation is stated as **30.7 per cent of the total amount is
available to States on the basis of population (i.e. the ratio of the individual
State*s population to the United States as a whole), 38.6 per cent for special
health problems of the State, including the training of personnel, and 30.7 is
distributed on the basis of actual financial needs.
The regulations require
that the amounts granted under the first two classifications be matched dollar
for dollar by the States (with the exception of the amount for the training of
personnel), and further stipulate that fifty per cent of this matching fund must
be newly appropriated, regardless of ?hat amount is available.
This important
qualification is felt to obviate the possibility of a State*s becoming lethargic
in the matter of appropriating its own funds, and relying too heavily on the
Federal government.
The practical result of this consideration is made clear by
the fact that, although the matching requirements are only 69.5 per cent of the
total |8,000,000, today the States expend over $7,500,000 more for health work
annually than they did prior to the establishment of the Social Security Law an almost equal matching of funds.
Furthermore, prior to the passage of this
Act, only some 600-odd of the country*s 3,069 counties were provided with full
time county health services.
At the close of the fiscal year 1937, the Surgeon
General states, over 1,000 counties were so provided - an increase of over 50
per cent.
The States budgeted these Federal funds for venereal disease control
work, accident and occupational disease prevention and control, tuberculosis
control, and generalized disease control programs.
Local problems, such as
malaria, rodent plague, trachoma, goiter and hookworm were provided for in
individual brackets.
Public health nursing, sanitary engineering, health educa
tion and child hygiene were also headings under which the States planned to
expend these funds.
- 4 -
allocated to venereal disease control work in the budgets of their Health De
partments; laboratories have been built or their facilities enlarged; personnel
have been and are being trained in serologic diagnosis; clinics have been es
tablished or expanded; the medical profession has shown a marked interest in
augmenting its knowledge of the diagnosis and treatment of syphilis and gonorrheaj
and educational features of the venereal disease program have been new attention.
In cooperation with the American Medical Association a motion picture was pro
duced for the informtion of physicians, and at the American Medical Association
annual convention in June, 1937, it was received with intense enthusiasm and
interest.
Expert advisory assistance is constantly being given to an increas
ing number of State Health Departments, as well as cooperative assistance to
several universities engaged in the public aspects of venereal disease.
Surgeon General Parran emphasizes the ever growing public demand for in
creased attention to public health as medical science adds new knowledge for
the prevention of disease.
The venereal disease program stands as an example
of how far a well developed "citizen interest11 can carry an attack on a
specific problem once the public has been made aware of its existence.
TITLE VI OF THE SOCIAL SECURITY ACT
(Administered by the U. S. Public Health Service)
Under Title VI of the Social Security Act, the U. S. Public Health Service
has the responsibility of administering an allotment of $$,000,000 a year to the
States.
These funds are provided to stimulate additional public health work
throughout the United States and its Territories, and the report of the Surgeon
General shows to what extent this function has been fulfilled.
For the fiscal
year ending June 30, 1937, |7,765,205.33 of the available #8,000,000 was so
allotted, under the regulations of the Surgeon General, as stipulated in the Act.j
TREASURY DEPARTMENT
PUBLIC HEALTH SERVICE
IN REPLYING
ADDRESS THE SURGEON GENERAL
U. S. PUBLIC HEALTH SERVICE
AND REFER TO
WASHINGTON
the inspection of 2,499 airplanes carrying nearly 40,000 persons to guard
against the importation of yellow fever from Central and South America, and
VENEREAL DISEASE CONTROL PROGRAM
The results of the drive against syphilis and gonorrhea, inaugurated as
a sweeping new conception of a public health responsibility when Dr. Parran
first took office as Surgeon General in April, 1936, show up markedly in this
report.
By December of the same year it was possible to call a conference on
this subject in Washington, D. C., and nearly 1,000 health officers, clinicians,
nurses and other Interested workers held the first National Conference on
Venereal Disease Control Work to occur in public health and medical history
in this country.
With the cooperation of the press, the medical profession,
leaders in thought, politics, women’s clubs and other organizations, the facts
pertinent to the widespread incidence of these diseases were for the first
time brought frankly to the attention of the people of the United States, and
the conclusions of this National Conference brought an open declaration of
war against venereal disease.
One of the most important achievements of this
Conference was the formulation of the basic principles of a venereal disease
control program for States and local communities which was immediately made
available to State health officers and interested organizations throughout the
United States and its Territories.
The increased attention which these highly
contagious diseases have gained in State and local public health programs can
be in a large measure traced to this first impetus of interest emanating directly
from the Public Health Service.
In only a y e a r ’s time, the majority of States have enlarged the amounts
death rate.
If later reports confirm this indicated interruption in the down-
ward trend of the disease, Dr. Parran states, 1936 will be the second year
since 1918 that the mortality rate from tuberculosis has failed to decline.
A similar break in this downward curve occurred in 1926.
Poliomyelitis incidence was unusually low for 1936, 46 States reporting
a total of 4,461 cases as compared vdth nearly 11,000 in 1935.
There was one
death for each six cases reported during this period.
On February 1, 1937, maritime quarantine was modified through the appli
cation of "radio pratique", Dr. Parran states, and under this new procedure
specified passenger ships may enter the ports of New York and Boston without
stopping for formal inspection provided they clear by radio with the quaran
tine officers under rigid regulations.
While yellow fever, plague, and
cholera are the principal quarantinable diseases that may be spread by mari
time or air commerce, no cases of either yellow fever or cholera appeared in
the United States during 1936.
Four cases of human plague, with no fatalities
were reported, three in California (where a stringent rodent control program
is constantly carried out) and one in Utah,
H 0 cases of human plague were
reported from Hawaii during the current year, but a number of plague-infected
rats were found.
That no case of the importation of a quarantinable disease
occurred in the United States or its dependencies is evidence of the effective
ness of present Federal quarantine and immigration methods.
The inspection of
16,959 vessels carrying 846,827 passengers and 1,230,452 seamen; the fumiga
tion of 3^.14 vessels; the examination of nearly a million alien passengers
and a like number of alien seamen; the examination of over 50,000 applicants
for immigration visas by Public Health Service officers abroad; as well as
TREASURY DEPARTMENT
U. S. Public Health Service
Washington
)o - 7
'
FOR RELEASE, MORNING PAPERS,
Sunday. January 9. 1958
S WV^Y»\
® |
ANNUAL REPORT OF THE SURGEON GENERAL. FISCAL YEAR 1957
GENERAL HEALTH CONDITIONS
The general death rate of the United States for the year ending June
3 0 4 , 1957, was 11.3 per 1,000 population, as compared with 10.8 for the pre
ceding year, according to the Annual Report to Congress of Surgeon General
Parran of the U. S. Public Health Service, made public today.
Compiled from
studied data of 25 selected States, the report further showed an increase in
infant mortality from 55.7 per 1,000 live births in 1935 to 56.9 per 1,000
live births in the current period.
Surgeon General Parran pointed out,
however, a further decline in maternal mortality.
New low death rates were
recorded for typhoid fever, measles, whooping cough, diphtheria and
poliomyelitis (infantile paralysis), although the leading causes of death,
namely: heart disease, cancer, pneumonia and cerebral hemorrhage, continued
their upward trend.
The incidence of smallpox, as indicated by reports from
46 States, remained practically stationary at 7,820 cases, with only 35
deaths.
f,While fortunately the cases reported in the United States represent
a mild type of smallpox,” Surgeon General Parran writes in this report, "the
more virulent type may appear at any time, and a better vaccinated population
is the only means of preventing a greater toll of human life and suffering
from this cause.”
A noteworthy item is the break in the declination curve of the tuberculosis
TREASURY DEPARTMENT
U. S. Public Health Service
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Sunday, January 9, 1938.
Press Service
Ho. 12-7
TJefzs:
SUMMARY OE
ANNUAL -REPORT OE THE SURGEON GENERAL, EISOAL YEAR 1937
GENERAL HEALTH CONDITIONS
The general death rate of the United States for the year ending June 30,
1937, was 11.3 per 1,000 population, as compared with 10.8 for the preceding
year, according to the Annual Report to Congress of Surgeon General Parran of
the U. S. Public Health Service, made public today.
Compiled from studied data
of 25 selected States, the report further showed an increa.se in infant mor
tality from 55.7 per 1,000 live births in 1935 to 56.9 per 1,000 live births
in the current period.
Surgeon General Parran pointed out, however, a further
decline in maternal mortality.
New low death rates were recorded for typhoid
fever, measles, whooping cough, diphtheria and poliomyelitis (infantile paraly
sis), although the leading causes of death, namely*
heart disease, cancer,
pneumonia and cerebral hemorrhage, continued their upward trend. The incidence
of smallpox, as indicated by reports from 46 States, remained practically
stationary at 7,820 cases, with only 33 deaths.
"While fortunately the cases reported in the United States represent a
mild type of smallpox," Surgeon General Parran writes in this report, "the
more virulent type may appear at any time, and a better vaccinated population
is the only means of preventing a greater toll of human life and suffering
from this cause."
A noteworthy item is the break in the declination curve of the tuber
culosis death rate.
If later reports confirm this indicated interruption in
the downward trend of the disease, Dr. Parran states, 1936 will he the second
year since 1918 that the mortality rate from tuberculosis has failed to decline.
A similar break in this downward curve occurred in 1926.
Poliomyelitis incidence was unusually low for 1936, 46 States reporting
a total of 4,461 cases as compared with nearly 11,000 in 1935.
There was one
death for each six cases reported during this period.
On February 1, 1937, maritime quarantine was modified through the appli
cation of "radio pratique", Dr. Parran states, and under this new procedure
specified passenger ships may enter the ports of New York and Boston without
stopping for formal inspection provided they clear by radio with the quaran
tine officers under rigid regulations.
While yellow fever, plague, and
cholera are the principal quarentinable diseases that may be spread by mari
time or air commerce, no cases of either yellow fever or cholera appeared in
the United States during 1936.
Four cases of human plague, with no fatalities,
were reported, three in California (where a stringent rodent control program
is constantly carried out) and one in Utah.
No cases of human plague were
reported from Hawaii during the current year, but a number of plague-infected
rats wore found.
That no case of the importation of a quarantinable disease
occurred in the United States or its dependencies is evidence of the effective
ness of present Federal quarantine and immigration methods.
The inspection of
16,959 vessels carrying 846,827 passengers and 1,230,452 seamen;
tion of 1,114 vessels;
the fumiga
the examination of nearly a million alien passengers
end a like number of alien seamen;
the examination of over 50,000 applicants
for immigration visas by Public Health Service officers abroad;
as well as
the inspection of 2,499 airplanes carrying nearly 40,000 persons to guard
3
against the importation of yellow fever from Central and South America, and
other quarantinable diseases from other localities formed the major part of
this program.
VENEREAL DISEASE CONTROL PROGRAM
The results of the drive against syphilis and gonorrhea, inaugurated
as a sweeping new conception of a public health responsibility when Dr.Parran
first took office as Surgeon General in April, 1936, show up markedly in this
report.
By December of the same.year it was possible to call a conference on
this subject in Washington, D. C., and nearly 1,000 health officers, clinicians,
nurses and other interested workers held the first National Conference on
Venereal Disease Control Work to occur in public health and medical history
in this country.
With the cooperation of the press, the medical profession,
leaders in thought, politics, wo men1s clubs and other organizations, the facts
pertinent to the widespread incidence of these diseases were for the first
time brought frankly to the attention of the people of the United States, and
the conclusions of this National Conference brought an open declaration of
war against venereal disease.
One of the most important achievements of this
Conference was the formulation of the basic principles of a venereal disease
control program for States and local communities which was immediately made
available to State health officers and interested organizations throughout
the United States and its Territories.
The increased attention which these
highly contagious diseases have gained in State and local public health pro
grams can be in a large measure traced to this first impetus of interest
emanating directly from the Public Health Service.
In only a year*s time, the majority of States have enlarged the amounts
4
allocated to venereal disease control' work in the budgets of their Health
Departments;
laboratories have been built-or their facilities enlarged;
personnel have been and are being trained in serologic diagnosis;
have been established or expanded;
clinics
the medical profession has shown a
marked interest in augmenting its knowledge of the diagnosis and treatment
of syphilis and gonorrhea;
and educational features of the venereal disease
program have been given new attention.
In cooperation with the American
Medical Association a motion picture was produced for the information of
physicians, and at the American Medical Association annual convention in
June, 1937, it was received with intense enthusiasm and interest.
Expert
advisory assistance is constantly being given to an increasing number of
State Health Departments, as well as cooperative assistance to several
universities engaged in the public aspects of venereal disease.
Surgeon General Parran emphasizes the ever growing public demand for
increased attention to public health as medical science adds new knowledge
for the prevention of disease.
The venereal disease program stands as an
example of how far a well developed ’’citizen interest” can carry an attack
on a specific problem once the public has been made aware of its existence.
TITLE VI OF THE SOCIAL SECURITY ACT
(Administered by the U. S. Public Health Service)
Under Title VI of the Social Security Act, the U. S. Public Health
Service has the responsibility of administering an allotment of $8,000,000
a year to the States.
These funds are provided to stimulate additional
public health work throughout the United States and its Territories, and
the report of the Surgeon General shows to what extent this function has
5
"been fulfilled.
Pòi* thè fiscal year ending June 30» 1937, $7,765,203.33 of
the available $8,000,000 was so allotted, under the regulations of the Surgeon
General, as stipulated in the Act*
The method of allocation is stated as
"30.7 per cent of the total amount is available to States on the basis of
population (i.e, the ratio of the individual State’s population to the United
States as a whole), 38.6 per cent for special health problems of the State,
including the training,of personnel, and 30.7 is distributed on the basis of
actual financial needs."
The regulations require that the amounts granted
under the first two classifications be matched dollar for dollar by the States
(with the exception of the amount for the training of personnel), and further
stipulate that fifty per cent of this matching fund must be newly appropriated,
regardless of what amount is available.
This important qualification is felt
to obviate the possibility of a State’s becoming lethargic in the matter of
appropriating its own funds, and relying too heavily on the Federal government.
The practical result of this consideration is made clear by the fact that,
although the matching requirements are only 69.3 per cent of the total
$8,000,000, today the States expend over $7,500,000 more for health work
annually than they did prior to the establishment of the Social Security Law *-■
an almost equal matching of funds.
Furthermore, prior to the passage of this
Act, only some 600*-odd of the country’s 3,069 counties were provided with full
time county health services.
At the close of the fiscal yea.r 1937, the Surgeon
General states, over 1,000 counties were so provided - an increase of over 50
per cent.
The States budgeted these Federal funds for venereal disease control
work, accident and occupational disease prevention and control, tuberculosis
control, and generalized disease control programs.
Local problems, such as
6
malaria, rodent plague, trachoma, goiter and hookworm were provided for in
individual "brackets.
Public health nursing, sanitary engineering, health
education and child hygiene were also headings under which the.States planned
to expend these funds.
An integral part of any State or local public health program is the
maintenance of adequate laboratory facilities or- the establishment of such
facilities where none exist.
As the laboratory is the central point from
which all research and investigative work is done in connection with blood,
body excreta, samples of milk,water, etc., it must be so set up and staffed
that its findings are accurate and it is equipped to handle varying volumes
of work.
Prom the funds made available by the
Social Security Act, the
Surgeon General *s report states, 34 States budgeted $328,155.59 for this
purpose.
EMERGENCY WORK IN THE FLOODS OF JANUARY AND FEBRUARY,
1937, WITH ITS RELATION TO SOCIAL SECURITY
Funds made available to the States under Title VI of the Social Security
Act are allotted quarterly, and any balance remaining quarterly may be re
budgeted for the continuation of the intended project or , with the approval of
the Surgeon General, utilized for new projects.
This provision of the Surgeon
General*s regulations proved singularly significant in January and February*
1937, when floods in the Ohio Valley constituted a major emergency.
health needs in these areas pyramided to unforeseen proportion's.
Public
Sewer systems
were destroyed, water was polluted, sanitary facilities were rendered useless
by the thousands.
Tens of thousands of people were made either temporarily
or permanently homeless, and were in need of public health preventive measures
against typhoid and other intestinal infections, pneumonia, and exposure*
7
Children had to he guarded against the possibility of mass illness in epidemic
form.
The United States Public Health Service dispatched experienced public
health administrators, doctors, and sanitary engineers into the locality, and
rendered other specific advisory assistance in the matter of water purifica
tion laboratory standards, etc.
Many of the States in the afflicted areas
telegraphed for permission to use unexpended balances from their Social
Security allotments to raise the burden unexpectedly thrust upon them. Delays
were avoided, clean-up work went forward, and it is possible, Dr. Parran states,
that the extraordinarily low incidence of sickness, contamination and loss of
life was in a measure made possible by this procedure.
Without such intent
being implicit in Title VI of the Social Security Act, it is apparent that
from time to time these funds will undoubtedly help to prevent calamitous
results in the public health due to major catastrophes of this kind. The joint
action of Federal, State and local agencies of fill types at the time when this
flood hit the States with practically a last minute warning, the Surgeon
General indicates in his report to the Congress, illustrated how the increased
cooperation between the U. S. Public Health Service and State and local health
departments, as brought about by this new legislation, made possible a swift
program of relief heretofore unknown in this country.
SCIENTIFIC RESEARCH
In conformity with the belief that the greatest contributions to the
relief from human suffering from disease come from the efforts of those en
gaged in research, much time was expended in all lines of endeavor in the
field of infectious disease, with marked results.
The demonstration of
endemic typhus in a rural area of Alabama, as an example, expands the problem of
8
control» as this disease was formerly considered peculiar to towns and Gities.
The hereditary transmission of relapsing fever spirochetes from experimentally
infected female ticks was demonstrated, and a developed picricacid-alum sjjray
against poliomyelitis was used hy 2 ,00 0 ,0 0 0 persons with encouraging results.
A special study of tuberculosis in two southern counties demonstrated that the
ratos of incidence an.d mortality were very much higher in the county where
living conditions were better - which points tp factors in the prevalence and
mortality of the disease hitherto unrecognized.
Continued study of Rocky
Mountain spotted fever indicates that the disease has wider distribution than
has been previously reported.
Sufficient preventive vaccine was prepared at
the Rocky Mountain Laboratory in Hamilton, Montana, for the vaccination of
80,000 persons.
Studies in occupational diseases among various industries, together with
accident hazards, were intensified during the past fiscal year, this report
indicates, and the findings, made available to health officers and other inter
ested persons throughout the United States have already served in some States,
and it is hoped will serve in others, to point out the tremendous need for a
more uniform understanding and conception of the problems which arise from the
diseases and accidents which exist throughout the manufacturing and industrial
world.
Studies in the field of cancer research were continued, with particular
emphasis on the effects of carcinogenic agents, and the effects of dietary
control on rats.
(HOTS:
The passage of the National Cancer Act, the establish
ment of the National Cancer Institute in the U. S. Public Health Service, and
the creation of the National Advisory Cancer Council, occurred immediately after
the close of the fiscal year.)
THE NATIONAL HEALTH INVENTORY
With a $4,000,000 grant from the Works Progress Administration, the
National Health Inventory, comprising the investigation of health conditions,
and the relation of those conditions to economic status, among 3,000,000 in
dividuals in 90 cities were continued and brought nearly to completion.
Tho
most extensive survey of its kind ever made, according to the Surgeon General1s
report, the current tabulation of the data is expected to contribute a, signi
ficant document to the archives of public health.
Results of this Survey are to
be made public within the coming two weeks.
OTHER ACTIVITIES OF IMPORTANCE
Facilities at the first hospital constructed by the U. S. Public Health
Service for the treatment and study of drug addiction at Lexington, Kentucky,
were further developed to meet the normal capacity of 1,000 patients.
During
the fiscal year, this report states, 1,507 patients were admitted and 1,292
were discharged.
The bulk of these patients are federally convicted narcotic
prisoners, while a very few are self-committed narcotic addicts.
Intensive
scientific research is being conducted on the grounds of the hospital in an
attempt to fathom the cause of the physiological addiction which takes place
in tho use of morphine and other opium derivatives, as against the psychological
addiction of other narcotics.
A complete psychological, psychopathic and
general rehabilitation schedule is maintained with the patients, in an attempt
to concentrate on their potential- readjustment rather than merely regarding
them as prisoners of the Government.
A second such hospital is in the process
of construction at Fort Worth, Texas, and will be designed to care for such
patients from the territory west of the Mississippi River.
10
-
The U. S. Public Health Service grew from the Marine Hospital Service,
which was established in 1798 under John Adams as the second President of the
United States, to the far flung organization which it is today.
In the past
fiscal year, according to Dr. Parran, the twenty-five Marine Hospitals through
out the United States showed a weekly average of approximately five thousand
patients, not including the resident colony of approximately 350 lepers at tho
National Leper Home in Carvilie, Louisiana, in which any leper in the United
States may reside as a ward of the Federal Government.
"In addition to providing medicati care for merchant seamen and others
legally entitled to such care*,f Dr. Parran states in summarizing this report,
"the Public Health Service has a responsibility both to extend the boundaries
of knowledge concerning the prevention and alleviation of disease end to assist
in the better application of existing knowledge.
The Social Security Act
provides a sound basis for a national health program.
The provisions of this
Act should be extended to provide further cooperation with the States in deal
ing more effectively with such important problems as syphilis, tuberculosis,
cancer, pneumonia, and mental diseases.
"The acute infectious diseases have declined rapidly during the past
years under the impact of public health effort.
There has been an increase,
however, in many of the diseases of adult life, particularly the chronic
diseases.
The emphasis of public health services needs to be shifted,
therefore, to the prevention and treatment of the chronic diseases, par
ticularly among the underprivileged part of the population who are unable
individually to
provide themselves with needed services.
This field now
appears to be the most pressing and the most promising as the object of the
attack."
-o0 o~~-
TREASURY DEPARTMENT
Washington
yOR RELEASE MORNING NEWSPAPERS
TPriflfl-v. January 14. 1938_____
PRESS SERVICE
N o . 12-8
1-10-38
Mr. J. E. T. 0*Connor, Comptroller of the Currency, today announced the comple
tion of the liquidation of 66 receiverships during the month of December, 1937. This
makes a total of 958 receiverships finally closed or restored to solvency since
the Banking holiday of March, 1933.
Total disbursements, including off setts allowed,
to depositors and other creditors of these 958 receiverships, exclusive of the 42
restored to solvency, aggregated $358 708 797 00, or an average of 79.75 per cent
of total liabilities, while unsecured creditors received dividends amounting to'an
average of 65.67 per cent of their claims.
Dividends distributed to creditors of
all active receiverships during the month of December, 1937, amounted to
$7 396 507 00.
Total dividends paid and distributions to depositors of all re
ceiverships from March 3-6, 1933 to December 31, 1937, amounted to $893 476 548 00.
FIRST NATIONAL BANK, MASC0UTAH, ILLINOIS:
This bank was formerly in conservatorship.
ship January 12, 1934.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $708 414 00, representing 107.01$ of total liabilities established.
Unse
cured depositors received dividends aggregating 10 0 $ principal plus an additional
interest dividend of 7.3$.
Assets and stockholders’ unpaid assessments having
book values in the respective aggregate amounts of $101 851 00 and $42 891 00 and
cash in the sum of $ 10 868 00 were transferred to an agent elected by the share
holders.
THE BRIGHT NATIONAL BANK, ELORA, INDIANA:
This bank was formerly in conservatorship.
ship February 13, 1934.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $355 674 00, representing 106.02$ of total liabilities established."
-
2
-
¡Unsecured depositors received dividends aggregating 100$ principal plus an addi
tional interest dividend of 7.42$.
Assets of a book value of $17 069 00 and cash
lin the sum of $328 00 were transferred to an agent elected by the shareholders.
¡COAST NATIONAL BANK, PORT BRAGG, CALIFORNIA:
This bank was formerly in conservatorship.
Iship November 7, 1933.
It was finally placed in receiver-
Depositors and other creditors received, including offsets,
[allowed, $725 490 00, representing 106.53$ of total liabilities established.
Unse-
Icured depositors received dividends aggregating 10 0 $ principal plus an additional
¡interest dividend of 8.9$.
Assets having book values in the aggregate amount cf
|$54 703 00 and cash in the sum of $7248 00 were transferred to an agent elected
¡by the shareholders.
IsRCHANTS & FARMERS NATIONAL BANK, CHARLOTTE, NORTH CAROLINA:
This bank was formerly in conservatorship.
Iship July 24, 1934.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
[allowed, $2 014 639 00, representing 104.21$ of total liabilities established.
■Unsecured depositors received dividends aggregating 10 0 $ principal plus an addi
tional interest dividend of 15.2$.
Assets and stockholders’ unpaid assessments
paving book values in the respective aggregate amounts of $645 783 00 and
»118 742 00 and cash in the sum of $8261 00 were transferred to an agent elected
jby the shareholders.
fIRST NATIONAL BANK, WHITE LAKE, SOUTH DAKOTA:
This bank was formerly in conservatorship.
top December 11, 1933.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
plowed, $164 542 00, representing 67.29$ of total liabilities established.
c u r e d depositors received dividends aggregating $16 66$ of claims proved.
Unse
- 3 -
FIRST NATIONAL B A M , JASONVILLE, INDIANA:
This hank was formerly in conservatorship.
ship February 5, 1934.
It was finally placed in receiver
-Depositors and other creditors received, including offsets
allowed, $402 848 00, representing 93.71$ of total liabilities established.
Unse
cured depositors received dividends aggregating 86.5$ of claims proved.
PEOPLES NATIONAL BANK, OSCEOLA MILLS, PENNSYLVANIA:
This bank was placed in receivership February 10, 1931.
Depositors and other
creditors received, including offsets allowed, $283 974 00, representing 70.44$ of
total liabilities established.
Unsecured depositors received dividends aggregatiig
63$ of claims proved.
FARMERS NATIONAL BANK, RAKE, IOWA:
This bank was formerly in conservatorship.
ship October 30, 1933.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $134 089 00, representing 100.39$ of total liabilities established.
Unse
cured depositors received dividends aggregating 10 0 $ principal plus an additional
interest dividend of 1 $.
PLANTERS NATIONAL BANK, SALUDA, SOUTH CAROLINA:
This bank was placed in receivership June 22, 1931.
Depositors and other
creditors received, including offsets allowed, $318 261 00, representing 65.04$ of
'total liabilities established.
Unsecured depositors received dividends aggregating
44.27$ of claims proved.
FIRST NATIONAL BANK, BOYNE CITY, MICHIGAN:
This bank was placed in receivership August 7, 1931«
Depositors and other
creditors received, including offsets allowed, $395 055 00, representing 82.62$
of total liabilities established.
ing 82.08$ of claims proved.
Unsecured depositors received dividends aggregat
- 4 -
■SOUTH GATE NATIONAL BANK, SOUTH GATE, CALIFORNIA:
■
This hank was placed'in receivership February 6 , 1932.
Depositors and other
■creditors received, including offsets allowed, $382 331 00, representing 78.83$ of
■total liabilities established.
Unsecured depositors received dividends aggregating
■62.32$ of claims proved*
■COMMERCIAL NATIONAL BANK, CHATSWORTH, ILLINOIS:
This bank was placed in receivership March 8 , 1930.
Depositors and other
■creditors received, including offsets allowed, $250 501 00, representing 63.96$ of
■total liabilities established.
Unsecured depositors received dividends aggregating
■51.7$ of claims proved.
WARMERS NATIONAL BANK, FAYETTEVILLE, TENNESSEE:
i
yhis bank was formerly in conservatorship.
ship April 16, 1934.
It was finally placed in receiver
Depositors and other creditors received, including offsets
■allowed, $137 847 00, representing 95.11$ of total liabilities established.
Unse
cured depositors received dividends aggregating 94.6$ of claims proved.
BTRST NATIONAL BANK, CARRIER MILLS, ILLINOIS:
This bank was formerly in conservatorship.
ship September 27, 1933.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $82 070 0 0 , representing 60.02$ of total liabilities established.
Unse
cured depositors received dividends aggregating 35.1$ of claims proved.
p R S T NATIONAL BANK, MONROVIA, INDIANA:
I
This bank was placed in receivership January 5, 1933.
Depositors and other
Creditors received, including offsets allowed, $124 135 00, representing 104.43$
i>f total liabilities established.
Unsecured depositors received dividends aggre
gating 1 Q0$ principal plus an additional interest dividend of 3 .6$.
- 5 -
FIRST RATIONAL BANK, SOMERS POINT, NEW JERSEY:
This hank was formerly in conservatorship.
ship October 13, 1933.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $263 439 0 0 , representing 87.2$ of total liabilities established.
Unse
cured depositors received dividends aggregating 73.65$ of claims proved.
TRI^COUNTY NATIONAL BANK, OLIVER SPRINGS, TENNESSEE:
This bank was formerly in conservatorship.
iship September 14, 1933.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
[allowed, $81 159 00, representing 106.10$ of total liabilities established.
Unse
cured depositors received dividends aggregating 10 0 $ principal plus an additional
interest dividend of 10.09$.
Assets and stockholders’ unpaid assessments having
look values in the respective a^-gregate amounts of $50 005 00 and $253 00, and cash
fen the sum of $338 00
were transferred to an agent elected by the shareholders.
WASHINGTON NATIONAL BANK IN THE CITY OP TACOMA, TACOMA, WASHINGTON:
This bank was placed in receivership February 2, 1932.
Depositors and other
creditors received, including offsets allowed, $978 512 00, representing 87.46$
of total liabilities established.
Unsecured depositors received dividends aggre
gating 79.503$ of claims proved.
FIRST NATIONAL BANK, VIDALI A, GEORGIA:
This bank was placed in receivership September 3, 1931.
Depositors and otter
creditors received, including offsets allowed, $181 268 0 0 , representing 50.38$ of
total liabilities established.
Unsecured depositors received dividends aggregating
18.55$ of claims proved.
[FIRST NATIONAL BANK, SEDRO-WOOLLEY, WASHINGTON:
This bank was placed in receivership February 23, 1932.
Depositors and other
creditors received, including offsets allowed, $255 829 00, representing 78.06$ of
total liabilities established.
Unsecured depositors deceived dividends aggregating
I71.533$ of claims proved.
GREENVILLE NATIONAL BANK, GREENVILLE, MICHIGAN:
This bank was placed in receivership July 21, 1931.
Depositors and other
creditors received, including offsets allowed, $183 776 00, representing 68.1$ of
total liabilities established.
Unsecured depositors received dividends aggregating
[62.3$ of claims proved.
!MAMOS A NATIONAL BANK, ANAMOSA, IOWA:
This bank was placed in receivership January 27, 1932.
Depositors and other
creditors received, including offsets allowed, ft525 787 00, representing 82.$ of
total liabilities established.
Unsecured depositors received dividends aggregating
78'.94$ of claims proved.
FIRST NATIONAL BANK, JENKINS, KENTUCKY:
This bank was placed in receivership January 12, 1932.
Depositors and other
creditors received, including offsets allowed, $249 252 00, representing 87,48$ of
total liabilities established.
Unsecured depositors received dividends aggregating
80.266$ of claims proved.
FIRST NATIONAL BANK, TYNDALL, SOUTH DAKOTA:
This bank was placed in receivership July 2, 1932.
Depositerà and other
creditors received, including offsets allowed, $244 321 00, representing 62.52$ of
total liabilities established.
Unsecured depositors received dividends aggregating
45.25$ of claims proved.
FIRST NATIONAL BANK, LELAND, ILLINOIS:
This bank was placed in receivership August 1, 1932.
Depositors and other
creditors received, including offsets allowed, $219 570 00, representing 62.76$ of
total liabilities established.
Unsecured depositors received dividends aggregating
47$ of claims proved.
[FIRST NATIONAL BANK, BODE, IOWA:
This hank was placed in receivership October 1, 1931.
Depositors and other
■creditors received, including offsets allowed, $67 831 00, representing 70.66$ of
■total liabilities established.
Unsecured depositors received dividends aggregating
■65.6$ of claims proved.
OCONTO NATIONAL BANK, OCONTO, WISCONSIN;
This bank was placed in receivership August 3, 1931.
Depositors and other
Creditors received, including offsets allowed, $516 451 00, representing 72.85$ of
rcotal liabilities established.
Unsecured depositors received dividends aggregating.
67.216$ of claims proved.
[FIRST NATIONAL BANK, ORTONVILLE, MINNESOTA:
This bank was placed in receivership December 29, 1932.
Depositors and other
[creditors received, including offsets allowed, $454 594 00, representing 73.28$ of
[total liabilities established.
Unsecured depositors received dividends aggregating
[58,9$ of claims proved.
[FIRST NATIONAL BANK, DALLAS CITY, ILLINOIS:
This bank was formerly in conservatorship.
[ship October 26, 1933.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
[allowed, $139 751 00, representing 92.14$ of total liabilities established.
Unse
cured depositors received dividends aggregating 87.35$ of claims proved.
PBST NATIONAL BANK, ST. ANSGAR, IOWA:
This bank was formerly in conservatorship.
ship October 31, 1933.
It was finally placed in receiver
Depositors and other creditors received, including offsets
|llowed, $157 470 00, representing 78.72$ of total liabilities established.
Unse-
- 8 ~
fcred depositors received dividends aggregating 71.15$ of claims proved.
¡FIRST NATIONAL BANK, CHRISTOPHER, ILLINOIS?
This hank was placed in receivership December 7, 1931.
Depositors and. other
creditors received, including offsets allowed, $853 961 00, representing 93.35$ of
total liabilities established.
Unsecured depositors received dividends aggregating
82.15$ of claims proved.
¡NATIONAL BANK OP DE PERE, DE PERE, WISCONSIN:
This bank was placed in'receivership February 16, 1932.
Depositors and other
creditors received, including offsets allowed, $477 577 00, representing 57.99$ of
¡total liabilities established.
Unsecured depositors received dividends aggregating
■¡4.2$ of claims proved.
¡FIRST NATIONAL BANK, BURNSIDE, KENTUCKY:
This bank was formerly in conservatorship.
pip August 8 , 1933.
It was finally pla.ced in r eceiver-
Depositors and other creditors received, including offsets
plowed, $90 246 00, representing 91.26$ of total liabilities established.
Unse
cured depositors received dividends aggregating 90*05$ of claims proved.
PIRST NATIONAL BANK, CAIRNBROOK, PENNSYLVANIA:
This bank was placed in receivership September 23, 1932.
Depositors and other
¡creditors received, including offsets allowed, $233 834 00, representing 83.65$ of
total liabilities-established.
Unsecured depositors received dividends aggregating
p M l 6$ of claims proved. -
CHEROKEE NATIONAL BANK, CHEROKEE, OKLAHOMA:
This bank was formerly in conservatorship.
hip October 4, 1933.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
plowed, $310 510 00, representing 101.37$ of total liabilities established.
Unse-
- 9 -
hired depositors received dividends aggregating 10 0 $ principal plus an additional
interest dividend of 2,4$.
■FIRST NATIONAL B A M , PALESTINE, ILLINOIS:
This hank was placed in receivership October 20, 1932.
Depositors and other
[creditors received, including offsets allowed, $174 361 00, representing 75.25$ of
[total liabilities established.
Unsecured depositors received dividends aggregating
170.25$ of claims proved,
[CITIZENS NATIONAL B A M , SEWAP.D, PENNSYLVANIA:
I
This bank was placed in receivership November 2, 1931.
Depositors and other
[creditors received, including offsets allowed, $86 282 0 0 , representing 9 5 .49$ of
[total liabilities established.
Unsecured depositors received dividends aggregating
¡95.2$ of claims proved.
FIRST NATIONAL B A M , OAKLEY, KANSAS:
This bank was formerly in conservatorship.
ship August 18, 1933.
It was finally placed in receiver
Depositors and other creditors received, including offsets.
Illowed, $150 160 0 0 , representing 82.53$ of total liabilities -established.
Unse
cured depositors received dividends aggregating 60.7$ of claims proved.
fcELTON NATIONAL B A M , BELTON, TEXAS:
This bank was formerly in conservatorship.
Pip November 13, 1933.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
■Llowed, 222,099-00 representing 75.97$ of total liabilities established.
Unse-
ured depositors received dividends aggregating 73.65$ of claims proved.
IIRST NATIONAL BANK, HÖ0PEST0N, ILLINOIS:
This bank was formerly in conservatorship.
I ip August 15, 1933.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
Illowed, $801 760 0 0 , representing 105.63$ of total liabilities established.
-
10
-
KJnsecured depositors received, dividends aggregating 10 0 $ principal plus an addi
tional interest dividend of 9*56$.
Assets and stockholders’ unpaid assessments
[having took values in the respective aggregate amounts of $84 199 00 and $250 00 .
[and cash in the sum of $4277 00 were transferred to an agent elected by the share[holders.
American
national b a n k ,
Ma r s h f i e l d , W i s c o n s i n :
This bank was formerly in conservatorship.
[ship May 23, 1934.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
[allowed, $1 665 211 0 0 , representing 105.74$ of total liabilities established. Unse
cured depositors received dividends aggregating 10 0 $ principal plus an additional
[interest dividend of 12$.
Assets hiving book values in the aggregate amount of
»185 295 00 and cash in the sum of $3504 00 were transferred to an agent elected
[by the shareholders.
[FIRST NATIONAL BANK, WGODLAKE, CALIFORNIA:
This bank was placed in receivership December 2, 1932.
Depositors and other
Creditors received, including offsets allowed, $106 800 0 0 , representing 103.39$
|f total liabilities established.
Unsecured depositors received dividends aggregat
ing 100$ principal plus an additional interest dividend of 5.95$.
Stockholders
[received cash amounting to $ 1 2 471 0 0 .
PST NATIONAL BANK, NAPPANEE, INDIANA:
ibis bank was formerly in conservatorship.
I ip September 26, 1933.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
Illowed, $216 113 00, representing 91.37$ of total liabilities established.
Unse
ized depositors received dividends aggregating 88.733$ of claims proved.'
II ?IZENS NATIONAL BANK, MULBERRY, INDIANA:
This bank was formerly in conservatorship.
It was finally placed in receiver-
11
■ ship August 15, 1933.
-
Depositors apd other creditors received, including offsets .
■allowed, $202 367 00, representing 107.09$ of total liabilities established.
Unse
c u r e d depositors received dividends aggregating 10 0 $ principal plus an additional
■interest dividend of 8.17$.
Assets and stockholders’ unpaid assessments having
■book values in the respective aggregate amounts of $54 691 00 and $22 611 00 and .
■cash in the sum of $7108 00 were transferred to an agent elected by the shareholders.
■FIRST NATIONAL BANK, TWIN DALES, IDAHO:
This bank was placed in receivership December 12, 1931. Depositors and.other
■creditors received, including offsets allowed, $917 206 00, representing 87.25$ of
■total liabilities established.
Unsecured depositors received dividends aggregating
■79.51$ of claims proved.
■CITIZENS NATIONAL BANK, HOOVERSVILLE, PENNSYLVANIA:
This bank was formerly in conservatorship.
ship July 12, 1934.
It was finally placed in receiver
Depositors and other creditors received, including offsets
■allowed, $261 517 00, representing 89.63$ of total liabilities established.
Unse-
■cured dppositors received dividends aggregating 84.4$ of claims proved.
■FIRST NATIONAL BANK, GOODHUE, MINNESOTA:
This bank was formerly in conservatorship.
■ship October 13, 1933.
It ?/as finally placed in receiver-
Depositors and other creditors received, including offsets
■allowed, $366 872 00, representing 77.04$ of total liabilities established.
Unse
cured depositors received dividends aggregating 67.2$ of claims proved.
I H U O N A L BANK OF ARKANSAS AT PINE BLUFF, ARKANSAS:
This bank was placed in receivership July 21, 1930.
Depositors and other
■^editors received, including offsets allowed, $1 524 512 00, representing 72.36$
liabilities established.
e s
53.77$ of claims proved.
Unsecured depositors received dividends aggregat
EAST BERLIN NATIONAL BANK, EAST BERLIN, PENNSYLVANIA:
This hank was formerly in conservatorship.
ship April 26, 1934.
It was finally placed in receiver
Depositors and other creditors received, including offsets .
allowed, $650 976 00, representing 65.85$ of total liabilities established.
Unse
cured depositors received dividends aggregating 59-.53$ of claims proved.
FIRST NATIONAL BANK, BISHOP, CALIFORNIA:
This bank was placed in receivership August 15, 1927.
Depositors and other
creditors received, including offsets allowed, $610 561 00, representing 64.13$ of
total liabilities established.
Unsecured depositors received dividends aggregating
55.57$ of claims proved.
FIRST NATIONAL B A M ,
STANTON, IOWA:
This bank was formerly in conservatorship.
ship October 30, 1933.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $358 873 00, representing 94.53$ of total liabilities established.
Unse
cured depositors received dividends aggregating 93.35$ of claims proved.
FIRST NATIONAL B A M , WEBSTER CITY, IOWA:
This bank was placed in receivership October 30, 1932.
Depositors and other
creditors received, including offsets allowed, $399 789 00, representing 67.92$ of
total liabilities established.
Unsecured depositors received dividends aggregating
51.28$ of claims proved*
FIRST NATIONAL BANK, FOSSTON, MINNESOTA:
This bank was formerly in conservatorship.
ship October 16, 1933.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $411 041 00, representing 74.98$ of total liabilities established.
cured depositors received dividends aggregating 67.26$ of claims proved.
Unse-
13 -
blRST NATIONAL BANK, HARVEY, ILLINOIS:
This hank was placed in receivership February 1, 1932.
Depositors and other
■creditors received, including offsets allowed, $746 214 00, representing 74.69$ of
■total liabilities established.
Unsecured depositors received dividends aggregating
■64.176$ of claims proved.
IINKSTER NATIONAL BANK,
INKSTER, MICHIGAN:
This bank was placed in receivership September 23, 1931.
Depositors and other
■creditors received, including offsets allowed, $224 860 00, representing 90.58$ of
■total liabilities established.
Unsecured depositors received dividends aggregating
186.23$ of claims proved.
felRST NATIONAL BANK, EERMOSA BEACH, CALIFORNIA:
This bank was placed in receivership December 29, 1932.
Depositors and other
[creditors received, including offsets allowed, $191 996 00, representing 71.81$ of
[total liabilities established.
Unsecured depositors received dividends aggregating
[33.8$ of claims proved.
[FIRST NATIONAL BANK, AUGUSTA, KANSAS:
This bank was formerly in conservatorship.
ship July 27, 1933.
It was finally placed in receiver
Depositors and other creditors received, including offsets .
Billowed, $580 957 00, representing 85.9$ of total liabilities established.
Unse-
iured depositors received dividends aggregating 75.963$ of claims proved.
p S T NATIONAL BANK, AURORA, COLORADO:
This bank was formerly in conservatorship.
ship October 31, 1933.
It wa,s fine.lly pla,ced in receiver
Depositors and other creditors received, including offsets
Illowed, $338 142 0 0 , representing 66.69$ of total liabilities established.
cured depositors received dividends aggregating 46.15$ of claims proved.
Unse
14 -
¡FIRST RATIONAL BANK, EDGSWATER, NEW JERSEY:
This hank was formerly in conservatorship.
ship February 5, 1934.
It was finally placed in receiver
Depositors and other creditors received, including offsets
[allowed, $853 121 00, representing 86*69$ of total liabilities established.
Unse
cured depositors received dividends aggregating 85.01$ of claims proved*
CITY NATIONAL BANK, HERRIN, ILLINOIS:
This bank: was placed in receivership October 22, 1931.
Depositors and other
creditors received* including offsets allowed, $684 37? 00, representing 83.59$ of
total liabilities established:
Unsecured depositors received dividends aggregating
65.58$ of claims proved.
FIRST NATIONAL BANK, FAIRCHANCE, PENNSYLVANIA:
This bank was placed in receivership February 26, 1931.
Depositors and other
creditors received, including offsets allowed, $250 901 00, representing 66.82$ of
¡total liabilities established#
Unsecured depositors received dividends aggregating
60.4$ of claims proved.
OLD FIRST NATIONAL BANK, FARMER CITY, ILLINOIS:
A receiver was appointed for this bank under date of October 25, 1930, for the
purpose of collecting a stock assessment covering deficiency in value of assets sold
and/or completing unfinished liquidation, regular depositors and creditors having
[been previously paid in full by assumption of liabilities by another bank*
Divi
dends paid ©mounted to 80$ of claims proved, while total disbursements by the
Receiver, including offsets allowed and proceeds of collateral held by creditors,
segregated $98 402 00, representing 100$ of total liabilities.
Assets and
stockholders’ unpaid assessments having book values in the respective aggregate
amounts of $149 287 00 and $6263 00, and cash in the sum of $18 341 00 were
transferred to an agent elected by the shareholders.
[COLUMBUS NATIONAL BANK, COLUMBUS, OHIO:
A receiver was appointed for this hank under date of August 1 1 , 1931, for the
purpose of collecting a stock assessment covering deficiency in value of assets
sold and/or completing unfinished liquidation, depositors and creditors having h een
[previously paid in full hy assumption of liabilities “by another hank.
Dividends
[paid amounted to 47.52$ of claims proved, while total disbursements hy the Receiver,
[including offsets allowed aggregated $239 583 00, representing 47.52$ of total
■liabilities.
■AMERICAN NATIONAL BANK, SHREVEPORT, LOUISIANA:
A receiver was appointed for this hank under date of April 19, 1935, for the
purpose of collecting a stock assessment covering deficiency in value of assets sold
land/or completing unfinished liquidation, depositors and creditors having been pre
viously paid in full hy assumption of liabilities hy another hank.
Dividends paid
»mounted to 47.219$ of claims proved, while total disbursements hy the Receiver,
[including offsets allowed aggregated $314 010 00, representing 76.34$ of total
[liabilities.
KERKIMER NATIONAL BANK, HERKIMER, NEW YORK:
A receiver was appointed for this hank under date of June 21, 1934, for the
purpose of collecting a stock assessment covering deficiency in value of assets sold
pnd/or completing unfinished liquidation, depositors and creditors having been pre
viously paid in full hy assumption of liabilities hy another hank.
Dividends paid
^mounted to 11.699$ of claims proved, while total disbursements hy the Receiver,
[including offsets allowed aggregated $841 872 00, representing 72.62$ of total
liabilities.
■FIRST NATIONAL BANK & TRUST COMPANY IN PONTIAC, MICHIGAN:
A receiver was appointed for this hank under date of August 12, 1932, for the
16 -
g
purpose of collecting a stock assessment covering" deficiency in value of assets
Isold and/or completing unfinished liquidation, depositors and creditors having
been previously paid in full by assumption of liabilities by another bank. DiviIdends paid amounted to 6.7095$ of claims proved, while total disbursements by the
Receiver, including offsets allowed aggregated $5 112 872 00, representing S5.E$
[of total liabilities.
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
DECEMBER, 1937
Per Cent
Total
Total DisDisbursements
"bursements
Including
to Total
Date of
Name and Location of Bank. Failure. Offsets Aliowed* Liabilities.
Cash, Assets,
Capital
Uncollected Stock
Stock at Assessments, etc*
Date of
Returned to ShareFailure• holders1 Agent*
$ 10 0
0
0
0
First Natl Bank
llascoutah, 1 1 1 *
The Bright Natl Bank
Flora, Ind*
Coast Natl Bank
Fort Bragg, Calif.
Merch & Fars Natl 3k
Charlotte, Nq. Car*
First Natl Bank
White Lake, So. Dak*
First Natl Bank
Jasonville, Ind.
Peoples Natl Bank
Osceola Mils, Pa.
Farmers Natl Bank
Rake, Iowa
Planters Natl Bank
Saluda, So. Car.
First Natl Bank
Boyne City, Mich.
South Gate Natl Bank
South Gate, Calif.
Commercial Natl Bank
Chatfasenrth, 111
Farmers Natl Bank
Fayetteville, Tenn
First Natl Baik
Carrier Mills, 111,
Per Cent
Dividend
.Declared
to All
Claiioants.
00
$ 1 5 5 6 10 00
2 5 000 00
1 7 397 00
10 8 9
10 0 000 00
6 1 9 5 1 00
115 2
200 000 00
772 786 00
10 7 0 1
10 7 3
i/
$ 7 0 8 UlU 00
/
67
h
00
2-13-31*
355
10 6 02
10 7 U2
1/
11-7-33
725 kqo 00
10 6 53
2/
7-2U-3**
2 OlU 639 00
10h 2 1
2/
1 2 -1 1 - 3 3
l6*l 5*42 00
67 29
16 66
25 000 00
000
2J
2-5-3^
U02 8kg 00
93 7 1
86 5
50 000 00
000
2-1 0 -3 1
283 97U 00
70 Uk
63 0
10 0 000 00
000
10-30-33
13^ 089 QO
100 39
10 1 0
25 000 00
000
6-2 2 -3 1
3 IS 2 6 1 00
65 0*4
kk
27
100 000 00
000
8-7-31
395 C35 00
82 62
82 08
50 000 00
000
2- 6 -3 2
382 331 00
7S S3
62 3 2
50 000 *X)
000
3-3 -3 0
250 5 0 1 00
63 96
51 7
Uo 000 00
000
/
m2mmi
U-16 -3U
137 3U7 00
95 -»■
ÿ* 6
50 000 00
000
2/
9-27-33
82 070 00
60 02
35 x
25 000 00
000
2/
2/
1-12-3**
INS0L7JCNT N ATI GLIAL BANKS LIQ,UIDATiSD AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THS MONTH OF
IXSCFMBFR, 1937 - Cont*d.
IO3 6
1
O
10U U-3
Capital
Stock at
Date of
Failure.
*0
O
0
$ 12U 135 00
Per Cent
Dividend
Declared
to All
Claimants.
00
Cash, Assets
Uncollected St
Assessments, e
Returned to Sh
holders1 Agent
$
000
73 65
50 000 00
000
1 1 0 09
25 000 00
50 596 00
10 6 10
978 5 1 2 00
87 1*6
79 503
181 2 LS 00
50 38
255 82Q 00
18 55
35 000 00
000
78 06
71 533
25 000 00
000
183 776 00
6s 1
62 3
50 000 00
000
525 787 00
82 0
78 3k
10 0 000 00
000
2 U9 2 5 2 00
87 kS
SO 266
00
000
2UU 3 2 1 00
62 52
**5 25
Uo coo 00
000
2 19 570 00
62 76
h
00
000
67 8 3 1 00
70 66
65 6
2 5 000 00
000
5 16 U5 1 00
72 85
67 2 16
00
000
U5U 59 U 00
7 3 28
58 9
50 000 00
000
0
Q
000
0
0
0
200 000 00
<T\
81 15 9 00
KN
87 2
0
0
0
ir\
263 U39 00
h-
Fir«t Natl Bank
Monrovia, Ind.
1-5-33
First Natl Bank
Somers Point, N. J. 1 / 10-13-33
Tri-County Natl Bank
Oliver Springs, Term gj 9-1*4-33
Washington N3 In the
City of Tacoma, Wash.
2 -2 -3 2
First Natl Bank
Fidalia, Ga.
9-3-31
First Natl Bank
2-2 3 -3 2
Sedro-Woolley, Wash.
Greenville Natl Bank
7 -2 1 - 3 1
Greenville, Mich.
A&amosa Natl Bank
Anamarsa, Iowa
1 -2 7 -3 2
First Natl Bank
Jenkins, Ky.
1 -1 2 -3 2
First Natl Bank
Tyndall, So. Oak.
7-2-32
First Natl Bank
Leland, 111
S-l-3 2
First Natl Bank
Bode , Iowa
10 -1 - 3 1
Oconto Natl Bank
Oconto, Wis.
8-3 -3 1
First Natl Bank
Ortonville, Minn
1 2 -2 9 -3 2
Per Cent
Total Dis
bursements
to Total
Liabilities.
0
0
0
0
Date of
Name and Location of 3ank. Failure.
Total
Disbursements
Including
Offsets Allowed.
I N S 0 L 7 M T NATIONAL BANKS LI «ftJIDATSß*JUSD- FINALLY CLOSJSD
OR RESTORED TO SOLVENCY DURING- TES MONTH 0?
DSOSMBSR, 1937 - Cont*d.
Per Cent
Per Gent
Div idend
Total Disibutfsements
Declared
Disbursements
Date of
Including
to Total
to All
Name and Location of Bank. Failure. Offsets Allowei m Liabilities* Claimants.
Total
Capital
Stock at
Date of
Failure.
Cash, Assets,
Uncollected Stock
Assessments, etc.
Returned to Shareholders1 Agent.
Fir st Natl Bank
157 U 7 0 0 0
78 72
12-7-31
853 9 6 1 00
93 35
71 15
82 15
2 -1 6 - 3 2
H 7 7 577 0 0
57 99
Ml
10-31-33
Ml
25 000 00
000
25 opo 00
30 000 00
000
000
95 2
60 7
25 000 00
25 000 00
000
Uo 000 00
000
91 26
9-23-32
233 S3U 0 0
83 65
77 II6
lO-L- 3 3
3 10 5 10 00
101 37
IO- 2 0 -3 2
1 7 U 36 1 0 0
2bG
000
000
000
00
90
000
100 000 00
5* 2
90 05
8-8-33
$ 75 000
25 000 00
60 000 00
<&■
87 35
10-26-33 $ I 39 751 0 0
2/
92
ik
2/
0Q
Dallas City, 111.
First Natl Bank
St. Ansgar, Iowa
First Natl Bank
Christopher, 111.
Natl Bank of De Pere
De Pere, Wise.
First Natl Bank
Burnside, Xy.
First Natl 3ank
Cajfribrook, Pa.
Cherokee Natl Bank
Cherokee, Okla.
First Natl Bank
Palestine, 111.
Citizens Natl 3ank
Seward, Pa.
First Natl Bank
Oakley, Fans.
Belton Natl Bank
Belton, Texas
First Natl Bank
Hoopeston, 111.
American Natl Bank
Marshfield, Wise.
102 h
70 25
000
II- 2 - 3 1
86 282 0 0
75 25
95 U9
Ml
2-18-33
1 5 0 luO 0 0
82 53
Ml
11-13-33
2 2 2 099 0 0
73 65
50 000 00
000
Ml
3 -1 5 - 3 3
801 7 6 O 0 0
75 97
105 63
109 56
100 000 00
88 726 00
Ml
5-23-31»
665 2 1 1 00
105 7^
112.,0
150 000 00
188 799 00
1
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OH RSSTOR?D TO SOLVENCY DURING THE MONTH OF
DECEMBER, 1937 - Cont* à.•
Name and Location of Bank.
Per Cent
Total Dis
Total
bursements
Disbursement s
to Total
Including
Date of
Failure. Offsets Allowed. Liabilities.
First Natl Bank
I2 -2 -3 2 $ I06 soo 00
foodlake, Calif.
First Natl Bank
2 16 1 1 3 00
Nappanee, Ind.
2 / 9-26-33
Citizens Natl Bank
20 2 367 00
Mulberry, Ind.
1 / S-I5 -3 3
First Natl Bank
Twin Falls, I&&hi> >
I2 -I2-3I
9 17 206 00
Citizens Natl Bank
2 6 1 5 17 00
Kooversville, Pa.
2 / 7 -1 2 -3U
First Natl Bank
366 872 00
Goodhue, Minn.
a 10-13-33
The Natl Bank of Arkansas at
Pine Bluff, Ark.
7-21-30 1 5 2 U 5 12 00
East Berlin Natl Bank
650 976 00
East Berlin, Pa.
2 / H-26-3U
First Natl Bank
g-15-27
6IO 5 6 1 00
3ishop, Calif
First Natl Bank
Stanton, Iowa
2 / 10-30-33
35S 873 00
First Natl B0nk
IO-3O-3 2
Webster City, Iowa
399 789 00
First Natl Bank
U1 1 0H1 00
Fosston, Minn.
2 / IO-I6 -3 3
First Natl Bank
Harvey, 111.
2-1 - 3 2
7^6 2 1 U 00
Inkster Natl Bank
Inkster, Mich.
2Z\ S50 00
9-2 3 -3 I
10 3 39
9 1 37
Per Cent
Dividend
Declared
to All
Claimants.
Capital
Stock at
Date of
Failure.
IO5 95
$ 25 000 00
88 733
Cash, Assets,
Uncollected Stock
Assessments, etc.
Returned to Sharehold e r s 1 Agent.
$
12 U71 00 *
Uo 000 00
0 00
SH Ul.0 00
10 7 09
108 17
50 000 00
87 2 5
79 5 1
10 0 000 00
000
89 63
SH U
25 000 00
000
77 oU
67 2
25 000 00
0 00
72 36
53 77
10 0 000 00
00 0
65 85
59 53
25 000 00
000
6U 1 3
55 57
50 000 00
000
94 53
93 35
2 5 000 00
000
67 9 2
5 1 28
10 0 000 00
000
74 98
87 26
30 000 00
000
74 69
eu 17 6
10 0 000 00
000
90 58
86 23
25 000 00
000
-5-
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING TES MONTH OF
DECEMBER, 1937, Contea.
Name and Location of Bank.
Total
Disbursements
Including
Date of
Failure. Offsets Allowed.
F er Cent
T o t # Dis
bursements
to Total
Liabilities*
Fer Cent
Dividend
Declared
to All
Claimants.
Capital
Stock at
Date of
Failure.
»Cash, Assets,
Uncollected Stock
Assessments, etc«
Returned to Shareholders* Agent
First Natl Bank
Hermosa Beach, Calif
First Natl B ank
Augusta, Kans
.First Natl Bank
Aurora, Colo
First Natl Bank
Edgewater, N. J,
City Natl Bank
Herrin, 111
First Natl Bank
Fairchance, la«
Old First Natl Bank
Farmer City, 111.
Columbus Natl Bank
Columbus, Ohio
American Natl B^nk
Shreveport, La.
Herkimer Natl Bank
Herkimer, N. Y.
First NB & Tr. Co IN
Fontiac, Mich.
1 2 - 2 9 -3 2
$ 1 9 1 996 00
7 1 si
33 8
$ 5 0 0 0 0 00
$
000
£/ 7-27-33
58 0 957 00
S5 9
75 9 6 3
75 0 0 0 0 0
000
1 / 10-31-33
33S 1 U 2 0 0
66 69
U 6 15
25 0 0 0 0 0
000
if
2-5-31*
S53 1 2 1 00
8 6 69
85 0 1
50 000 00
000
10-22-31
68 U 377 0 0
S3 59
6 5 58
50 0 0 0 00
0 00
2 -2 6 -3 I
25 0 9 0 1 00
66 82
60
25 0 0 0 0 0
000
9S U 0 2 0 0
1 0 0 00
80 00
65 0 0 0 00
k
if
IO- 2 5 - 3 O
If
g-11-31
239 5S3 0 0
*+7 52
**7 52
50 0 000 00
000
n
**-19-35
31'4 0 10 0 0
7 6 3 1*
**7 2 1 9
3 0 0 000 00
000
if
6 -2 1 - 3 U
«Ul 87? 00
7 2 62
11
200 000 00
000
1/
S-I 2 -3 2
6 7 0 9 5 6 OO 0 0 0 0 0
0 00
5 112
8 72 00
95 5
699
173 S91 0 0
1/
Receiver appointed to levy and collect stock assessment covering deficiency in value of assets
sold, or to complete unfinished liquidation.
2/
Formerly in conservatorship.
*
Cash returned directly to shareholders by Receiver*
m m m vm>mwmr
FOR RELEASE, MDHHIHG H E W A F E R S
Tueeday, January 11, 193P
Servie#
l/ÍO/38
Secretary of the Treasury Mergenthau announced last evening that
the tenders for #80,000,000, or thereaboute, of 91-day Treasury bille, te
be dated January IS and to mature April 18, 1938, which were offered on
January 7, were opened at the Feder*’ *— —
* *■— ’*— " **-----
The detalle of thie
Total applied for
Total aeeepted
Hangs of aoeapted bides
High
tow
Average prie#
* 99.
- 99.
* 99.97$
i rate approximately 0.051 pere
(80 pereeat of the amount bid for at the 1»« wvmw
TREASURY DEPARTMENT
Washington
FOR IlnDEnSE, MORNING- NEWSPAPERS,
Tuesday, January 11, 1938.
Press Sepvic©
Wo i?_q
1710738------------------ ------
Secretary of the Treasury Morgenthau announced last evening that the
tenners for $50,000,000, or thereabouts, of 91~day Treasury hills, to he deled.
January 12 and to nature April 13, 1938, which were offered on January 7, were
opened el the Federal Reserve hanks on January 10,
The details of this issue are as follows^
Total applied for
Total accepted
Range of accepted bids:
High
Low
Average price
- $138,807,000
50,027,000
~ 99.987 Equivalent rate approximately 0.051 percent
- 99.973
»
»
»
0.107
»
- 99.976
fl
»
»
0.097
(80 percent of the amount hid for el the low price was accepted)
— 0O0—
- § S,
Stop "obvious* purposes of the new «grates were
sot as indicated on page 3 of the Acting
C o ntroller General1« reoort under the o n *
tions (a), (b), and (e)• (shore)* for the
reason that all of each purposes were being
served under the old aretes of symbols and
account titles.
3.
The determination o f (naasswfejP'atealgcrz^ ^ 1tl tie»
of appropriations and receipt accounts has beon
a prerogative of the Secretary of the Treasury
from the beginning of the Government and ha«
never buen questioned hr a Comptroller. It 1«
a necessary incident to the drawing of warrant«•
for which the Secretary o f the Treasury is re
sponsible under the law.
4.
The classification of receipts and aftpendituros
of the Government Is of sore concern to the
Treasury department than it is to the General
Accounting Office. The new system of syniholft
consisted of approximately TOO pages* involving
1 2 ,0 0 0 items, and subsequent revisions proved
that they were not sufficiently reliable for
use ay the Treasury Department. The Treasury1«
accounts must be accurate.
I.
The regulations prescribing the new symbols
■ were dated J u n e -15, 1936, only 16 days before
the beginning of the new fiscal year to which
they were to apply. The regulations were
never officially transmitted by the Comp
troller Genera! to the Secretary of the
Treasury. The Department was able to
procure a copy informally about Jtsno 22nd.
This was after the Treasury had prepared
all of its Xsdger sheets and warrants
covering appropriations for the now
fiscal year.
I,
The Treasury had not besn previously consulted
as to whether the new system would meet its
needs.
?.
The Treasury endeavored to reconcile its
differences with the General Accounting
Office, with no success.
Hon. B. 8 . S l l i o U -
&
hora referen«« to limitatione nadar appropriation» but ratear lo tha
separata and distinet appropriatioa» heretofore combinad nadar alafia
titlea.
It la aot understood how tha trata» of ayabols prescrlbed la
Begnlatioae Va. 34, woold anable tha Traaoory Department to dlschaiga
Ita oaa responsibllity wlth raspeot to tha keeping of aa account nadar
aaoh »aparato haad of appropriation and of raportlng tha aapandltoraa
thereundar to tha Ooagraes purauant to Seotloa 15 of tha Aot of July
31, 1394»
Howevar» la view of tha long-standing practica and tha
proxlalty of tha boglnnlng of tho nav fiscal year, 1 hora determinad
to hold la abeyance tha eettlng ap of tho addltloa&l account» nntll
tha beginnlng of tha fltool yoar 1930,
fhla «111 afford tho Da-
partraent atipla opportunity to ooafor wlth tha
Bnrooa of
tho fiudgat«
tha Hoaaa and Sonata Appropriation» Comal ttees, and the intoraatad
administrativa «ganólas bafora tha changa» ara affaetad,
1 should
aleo ha glad to have tha Department 9 § representativa ooafar wlth tha
(tonara! Aocooatlag Offlaa ahoold yon ooaaldar such aotloa advisable.
May 1 aaggaat forpyour consldaratlon tha raaclndlng of (ton«ral Begnlations lo, 34, aa of ¿oly 1, 1337, wlth tha aaáarataad-*
iag that durlng tha fiscal yaar 1333 tha fraasury Department and tha
General Accounting Office will devisa and Jolatly praaoribe a ayataa
of ayabollsatloa, for laatallatioa on July 1, 1333*
Very truly yours,
(Signad) H. Morganthau, Jr.
Secretar y of tho fraasury,
Hon. B, H. Blliott,
Aotiag Ooaptrollar Qanaral
of tha Chitad St&taa.
mmtwm
3 /2 8 /3 7
E o li. B. I. I l H o t t - 4
followtag e»tabiished routine; and thi» routine panno» be upset
otpiw
night without iajurious resulta.
ttftalwB» affloienoy raquires mora capaci tious deslgnatlo» of
nsw sciabola to take aara of noe accecata or classifioations tbaa la
poealhic under a procedura which w o d d requlre formai advance approvai
of thè Ganeral Accanatine Office la each particulor laetaaca.
la
formar year» thè desigaatio» of ntw appropriati©» symbols aad titàaa
va* a eospar&tlvely aiuole mattar (a* it ehould ha) through alaaa
tclephoaio oosmaaieatlea aad coeperatlea betvaaa tha Divi sica of
Bookfceeping aad Warrant* of tha Treasury Department aad tha Bookkesping Divisto» of tha General Account lag Office; but eiaca tha deaerai
Aoceoatlng Office haa asaumed that tha preaeribing of opproprlatlen
ajHbolo io oae of Ita fuactioaat thora tara aot cnly baca uaaacaasary delays la tha laecaaoa aad olaaraaoa of
frenaury warrant»,
hot
tha whole procedure ha» becoiae moro espansive thaa It aced ho.
la tho Department’a lettor of Juaa 14» y e n wore adrlaod
that tho Treasury haa had under ooasideratloa thè aettlng up «a it*
hook», a* separate oppropriationa. certain appropriationa whioh
heretofore bave been eoefelaed. for administratlve convanienee, under
single appropriano» titles.
Tour reply Indicate» that you ara under
tha s&oappreheaeioa that tha Department had referaaea to oo-»ealied
limitations under appropriationa» aad you suggeet that tho purposa
could be aoooapllshed b y using tha systa» of sye&olisatlo» praaorlbad
la Bogulatlons No. 34.
The department, la Ito lettor of «Tua» 14 did aot
Boa. B. I. m i e t i - 3
b «cause andar »pecifio provision of la* thè officiai aooounts relatlng
to revenues, appropriai ions t and espendltures anpertainìng te all do*
parimente and establishment» of thè Government (exoept postai) aro
aalntain ed open thè hook» ef thè Tr easury*
Seoondly» h»cause as thè
volume ef husinee» ef thè Qovernmeat Inereaees« thè need fer uslng
zmmerical syibols ?for posting accenni* and classìfying receipts and
expendi ture» in finanelal statement» through thè noe of meohaaieal
equipment heeomas Inoreaslngly laperta&t*
thè aystem ef syafeolising aooounts evsntually te h e adopted
for uso h y thl» Department m s t moke proviaion fer needod la§>rovemeato in thè present System ef aeeountiag in thè Treasury Department.
Araohs ether thlags» thsse ia^revsments ansi previde for olosor oc*»
ordination of thè aeeoaatlng work ef thè Bivi sten ef Bishnrsement»
thè Divlsion of Beekfceeptag end warrant» t thè Office of thè treasurer
ef thè United States# and related actirities*
It must meet thè need
for oxpedltions pestiag end provine ef thouaaad» ef items «hioh aro
olearod h y these respeetive a g e n d e * daily# «ad thè prosit olassifi*
cation of thè resulto in thè f i m m o l a i alatamente ef thè Bhitod States
freasury*
It »est take iato eonslderatlen thè type ef aeoetmtlag
machinery av&llable to take care ef thè largo volume ef check*, oertlf*
ioates ef deposii# e te* t which ansi he handied h y thè freasury daily
without interruption.
It oast take iato eonslderatlen thè faet that
thè p r e ^ t d i s p a i a of thè daily business of thè freasury requires
that handred» of elerks • mnny in locr grado» - must he tralned in
%i.o.
Hon. R. H. Hlllott « a
In agr previous lattari your attention
fact that andar axlsting 1m
«imi
direoted to thè
It la thla Departaent,e responalbility,
Hot only to iaaua all warrant# oa thè United Statai Treaiury* but
alio to aalatala thè nubile aoooaati and to
mak»
flaanolal riporti
and italamente reiatìng to thè rerenuei aad expindi turai of thè
Gor a mmani.
fhe regolar finane lai raparti aad alai emani# of thè
freaeury ara nade through tha medium of tha Daily Statement of tha
United Statai freaiuryi tha innual Baport of tha Secretar/ of tha
Treaiuryi and tha annual Qoabined Statement of Baoalpta and la»
pandi tures, whloh li «uhmltted to tha C o n f a l i at tha hegtanlng of
aaah regolar n a i l o n purauant to ipaolflo raquiromant of lata.
In
addillo»« tha fraaeury compila® aany other flnanolal italamente froa
timi to timo In oonneetioa with tho conduci of Ita dall? affaire*
whlla it «ay ha true that nwaarioal syofeole terra a purpose In tha
audlt of appendi turai« claarly thii li not their prlmary ohjaot*
Their prlmary objeot li9 or ihould h e v to facilitato tha postili
and olaieifioatlon of aooounti relatlag to r a r m a a i and e m e n d i turai«
and tha praparatlon of flnanolàl itatemaat# therefrom for tha purpoaa
of flnanolal management»
fhe ayitea of aya&olt preacribed In Ornerai
Begulatlon® Ho. 84« doos not raeet tha fraaauryfs requiraraanti In
thaaa roapoota*
fhara ara a number of roaioni why tha Traaaury la rltally
intaraatad In tha procedura to ho followod for aynholltlng tho rara»
noe appropriati©» and i3Q>anditura accoranti of tha Goremaant.
Fini«
o
July 7 , 1937.
f
T
My dear Judge E llio t t :
1 h&vo
to
ay lo tto ?
your
lo tto ? o f Jobo
of Jo b o 14,
17g 1937«
(iW51607) « In
reply
r e la tiv e to the uoo o f the appropriation
symbols prescribed la Generai Regulations Ho. 94.
Too sta to that the primary object ia prescribing th e change
la the system o f sym bolizing appropriation aoooonts was to provide
for the hoopla^ and rendering o f accanate ia snob a way that there
could bo an expeditions audit o f expenditures w ith a view to assortala»
la s whether the H esitation s proscribed ia the various appropriation
a c ts aro b olas properly observed.
The Department concur# in your view that the aud it o f
expenditures should be nade ia euch a wanner ae to eoe that a l l
lim ita tio n s ia appropriation acte are observed.
I t 1» tc be noted,
however, th at the lim ita tio n s tc which you refer (ae d istin g u ished
from appropriations) a rc taken «aure o f la appropriation symbols by
weans o f a d ecim i s u ffix and, th erefo re, th e aud it o f lim ita tio n s
would not o f i t s e l f have a e esselta ted an e n tir e ly new system o f ap
propriation symbols*
la any even t, w h ile a system o f sym bolizing
may be necessary fo r fa c ilita tin g the audit o f expenditures, th is
Department docs a ct agree that euOh purpose i s , or theuld lb e, the
primary object o f a system o f aumerloal «fa b ele.
A-51607
7
•ymbol* can ba usad fo r both purpoeae.
Xa «a far a s I ara oonoarnad»
I t 1« im aatarlal who davisas tha ayatam ao long a» I t viXX
asada o f both o fflo a a .
m *%
tha
The oíd ayates* daaa not a a l the present needa
o f th la o ffic e la th at i t da«« aot próvida a propar rnaana o f In dloatin g
%
ha lia ia á iio n * . I f the sy stea preaoribad nadar Ganara! Ragulatlo&a
No. 84 fa lla la aay raapaat to aaat tba requl re mente o f your offiaa»
X »hall ba pXaaaad to adopt «ay changas yoa aay suggest that «UX
aaka tha sy stea aorkabla ia both o fflo a a .
Toa snggaat tha poaaibiX ity o f oarrytag aaeh lim ita tlo n aa a
separata «pproprlatlaa wlth ita separata H tla and ayabol.
Thla
probabXy would raeet tha audlting rafolraaasita o f th la o ffia a bul i t
la ballavad tha work
m á
expense incidan* tharato» - aot oaXy la th la
o ffia a and la tha Treaaury Department» but aXao la tha various ada& nlstratlve offloaa« «* would ba la rg ely la exoaea o f tha work aa¿
expense iooldaut to tha acoo^pllahaent o f tha eame purpoee by tha
adaptloa and use by both o fflo a a o f tha sama ayataa o f aynfcollaiag.
Coasequently, 1 tru st th at yon. wlXX g ira further ecm sideratlo» to ay
requsst o f April 04» 1937.
And
l f yon. wlXX c a li to ay a tten tlo n at
aay timo aay sp e c ific la s tanca o f d iffleu X tita batea** th la o ffio a
and tha Treasury Bepertraaat whlch aay aot ion o f mine raight solva»
or o f aay laok o f cooperatloa on the part o f th la offiaa» X assnra
yon tha aa tta r wlXX recelv e ay proraot aad careful oonsideratien.
Siaoaraly your a»
(Signad) S . I* m i o t t
Aatlag O osptrollar General
o f tha United sta te a .
*»5X60?
1 1 ’I
I» such a way th at there would be an expeditious aud it o f expenditures
w ith a ri«w to ascertain in g whether tho lim ita tio n s prescribed la tho
various appropriation a c ts aro being propariy observed*
X assume i t
wiXX bo conceded that such an audit should bo »ados and, sino# i t bad
not tborotoforo bota »ado« the adoption o f a n / prooodoro to tak s earo
of i t would n ecessa rily involve
oosbo
additional work and expense.
The use o f the system o f sysfeoXe proeoribod In General Regulations Ho»
84 Is b eliev ed to be the most expeditious and eoonosdo&X moans o f
taking oars o f the situation *
Consequently, i t i s sln o erely hoped
that you stay overlook any look o f cooperation on tho part o f th ie o fflo o in the devising or prosorlbing o f the system « an ooourrsnoe
fo r which 1 was not reaponslblo and which, as hereinbefore stated«
i s reg retta b le « and adopt said system in I le a o f tho sy stea th eretofo re prescribed by the C o n tro ller General« i f and to the entent that
Ite adoption I t p o ssib le without undue interferone# w ith the d u ties
or r e s p o n s ib ilitie s imposed by law upon the Secretary o f the Treasury*
w hile there any be no law auth orisin g th is o ffic e to prescribe
symbols to bo used on warrante or in the aoeeunts required by S e ü ie n
10 o f tho act o f J u ly 31« 1894« to be kept under your direction« and
no law authorising tho Secretary o f tho Treasury to prescribo symbols
to bo used in connection w ith accounting forms or systsa» which th is
o fflo c i s authorised by law to p roscrib e, i t Is obvious that i t w ill
f a c ilit ia t e the work o f both establishm ents i f the sane system o f
A-51607
5 «
X assume i t would »0% he serio u sly questioned that thè duty
o f preaorihing *the forme o f keeping and rendering « l i publio aceamta,-» exoept tho te p a la tin e to tha p a sta i rerenaee and s t e n d i
toi*» therefro»*« vhich was laposed upon thè C o n tro ller o f thè
Treasury by Section 6 o f th è aot o f July 31* 1894« 38 Stai» 308* lo*
purouant to tho provisiona o f Section 304 o f tisi Budget and Aodonatine to t o f ¿uno 10* 1931* nov "vested la and ioposed t&a*
th ia o ffice * and that auoh duty 1« to to "exeroised without d irectio n
froa aay other o ffic e r . « Howcver» in thè performance o f th at duty
and th è dntlee imposed open th ia o ffic e under Section» 308 and 309
o f tho Budget and Aooounting Aot* and a l l ether d u tiee imposed upo»
th ia o ffice» i t ie ay eam eet deaire that there he reoognized tho
povere and dutiee o f tho Soorotary o f tho Treasury v ith roepeet to
thè p u tì io aoaeys*
X
fu lly appreciate thè fa o t that there ie euch a connection
hetween thè d u tiee ia^oeod open thè freaeury Department in thè Bat
te r o f issn ln g variante and o f keeping aooounte o f ro o o lp ti and e s
pandi ture* o f publio moneys and tho dutiee iapoeed hy la v upon th i»
o ffic e ae tc require hearty oooperation to tho end th a t tho du tiee
o f oaoh establishm ent aay ho porforaed ae eep ed itiou ely and eoonondo a lly ae poeeih le without iaposing any uadue bordea or inconvenience
m
thè other*
The priaary object in preeeriblng thè ehaage in thè system o f
sy ^ o lla in g vae to previde fc r thè keeping and rendering o f aooounte
¿-6160?
4 «
A» you know* Genomi Regulation» Bo, 84 o f June 16« 1836* wert
Issued by the former C o n tro ller General,
1 had nothing to do w ith
the issuance o f said regu lation s or w ith the dori oing o f the system
o f symbols presorlbed th erein end* henee* en net responsible there
fo r ,
I t ! • snob to he regretted that there wee not follow ed In th a t
Instance the sane procedure which wee follow ed In connection w ith
the prescribing by the Comptroller General (General Regulations Bo,
44 o f June 1* 1936* and General Regulations Bo, 6? o f Juno 3?* 1938)
o f tho system o f eymbels th eretofore In use* and
X
m y say th a t
l
here no doubt tho former Comptroller Cenerei In leeu ln g General
Regulations Bo. 84 assumed th at euch procedure had been followed«
1 agree w ith the e le e expressed In your le tte r * supra, to the
e ffe e t that the p rovision s o f Section 309 o f the Budget and Aooountlng Act o f June 10* 1931* 43 S ta t, 36* do not authorise th le
o f f lo e to assume or to In terfere w ith the d u ties inpesed upon the
treasury Department under the prori stone o f B estien 10 o f the ¿et
o f July 31* 1894* 28 S ta t. 208* end 1 fu lly recognise the d istin c tio n
between the accounts referred to In sa id Ssotlon 10 and the adminis
tr a tiv e accounting referred to In Section 309 o f the Budget and
Accounting Act.
I t
there e x is te a t the p ressât tim» any Instance
o f what appears to bo an a ttoap t on tho part o f th is o ffic e to
assume or to in te rfe re w ith d u ties Imposed by lew upon the Secre
tary e f the Treasury, 1 sh a ll h s pleased to have such sp e c ific In*
stanco» brought to my personal a tten tim i fo r correction .
A-51607
3
principi«» Oxprsssed 1» thè Department1« previene lettera. Such
regolatici*» have noi only inoreased thè espenss of thls Department
but app&rently bava al so aàded to thè admisistrative expensee of other
departments (see, for exaaple, House Subooiwaittee hearing« da ilio apDropriations for thè Havy Department for thè fiscal year 1938» pago
387)*
•Wlth a view to eliadxi&tlng thè aàded '«¿penso la thè D ivision
o f Dlsbursement o f thè Tre&eury Department as a resa lo o f General
Regulations Ho. 84, unless a s& tisfactory arrmngoiiH -¿Oan h# reaohsd,
th ls Department may he foroed to t$s* p u lt lm o f adrlalag thè do*»
partmenta and eetabiishm sats that i t v i l i he n ecessa ri a fte r Ju ly 1«
1937» to include in voucher« «ubaitted to th ls Department fo r payment thè syabola aad t l t le e o f thè appreprlàtlens a s oarried la thè
o f f ic ia i accou&ts o f thè United Stato» freasury Department and In*
oluded la ?reasury warrant«« In th ls connection, I thlnk I t adv lsa b le fo r me to a d eise yen th at X noe bave under eenslderatlon
thè so ttla g up on thè hook« o f thè Treasury a s separato appropria-»
tio n s a l l approprlatlons wbleb heretofore baro hoen eoetelned» for
ad& dnlstrativ* oosvonlonoo» under sin g le opprepriatlea t l t l e e , e ffe o tlv e Ju ly 1» 1937« I f your o ffic e has asy suggestiono w ith respeot to thè metter» I steould he glad i f yen o l i i advlse smi«
**1 regret that I t 1« neeeeeary fo r sa to totee thè p o e ltlc n
l&dloated In th ls le t t o r , but In e le e o f thè a ttltu d e th a t thè
General Aocountlng O ffloe ha» aesuaed oonooming t h ls mattar» X
eoe no a lter n a tiv o , slnoo X b ollavo I t 1» ay r e sp o n sih llity to
dleehargo thè dotte» impose! upon thè Seeretary o f thè Treasury
hy la»«
*fhe presont praotleo o f th è Ghlof Dlsburalng O ffioor In
rendering acoounto to thè General Aocountlng O ffloe in aooorda&oo
w lth thè mauser in ehlch fonde are advanoed to h la on Treaeury
warrant», appears to ho in eo n feralty w lth la»« Xt w ill ho neoossary, theroforo, that further c o n sid e r a ti^ ho givo» to thè roquest
oontalnsd in your letto r » etnee i t lo doubtfol whothor any change
ean ho mado u n tll thè d iffic o lti« « hetween thè freasury and thè
General Aocountlng O ffice» vhleh woro eaused hy thè lesuanoo o f
Rogulatlono Io« 84, con ho worked out. *
1
approdato thè fronte statem ent o f your p o e ltlc n In Itelo
a n tter and a» alndful o f thè cause th ereof.
A-516G7
» 2 **
**It a©sms io me that th© d iffic o lti© « whioh hav© arisen &s a r©~
s u it o f th© i sanano© o f General Régulations Ko. 84 could haïr© boen
avoided l f th© General Accountln© Offio© had glven proper récognition
to th© d lstin o tlo n between th© dati©» and ro ep ea elb lH tlo s vostod by
th© Congro»© lu th© Treasury Department In natter© r©latin© to th©
legnano© o f warrants and th© koeplag o f th© p u b lic aooounte» and
thos© v ested in th© General Aceeuntlng Offlo© w lth respect te th©
countorelgnlng o f $r©asury warrants« th© preserlbln© o f adnlnlstratir©
appropriation and fond accountln© proo©dar©s la th© i©r«ral dopartraents and ©stabliehmeato* th© au d it and settlem ent o f pu blic aoooonts»
and th© fin a l d«t© ralnatioa ©f questions involvlng th© loarful us«s
Of appropriât ions •
*It should h© underetood that th ls Department do©s not question
th© auth orlty o f th© General Accountla© Offlo© to proscrih© *th©
forme« systoms« and procédures fo r adm inistrative appropriation and
fond accountln© ln th© several ¿©partment s and establlehm ents« * lit»
©ludlag th© 1adm inistrative1 appropriation and fond accountln© ln
it© own adm inistrative bureau© and offlo©©« However, whea th© Oongrees
vested auth orlty ln th© General Account ln© O ffice te prescrih© th©
adm inistrative appropriation and fond aeeeuntlng procedure© in th»
•everal departments and establishment©« l t ebvlously intended th a ï
such procedures would h© ln haraony w lth the haolc accountln© structure
o f thè Government a© provlded by th© Congrega I t e e lf « and that th© auth o r ity would net b© exerclsed ln a manner whlch would brin© Int© th©
General Account ln© O ffice fonctions whlch th© Gongr©»» Intended te b©
perfonaed by other execu tive departments and agen d e* c f th© Govern
ment* fherefor©« when the General Accountln© Offlo© assume© amth o rlty to prescribe procedures whlch in terfère w lth proper perform
ance o f th© dut is s vested by th© 0oa©r©ss ln th© Ssoretary o f th©
Treasury, such a© those involvlng th© issuanc© o f warrants on th©
p u b lic Trcasury and th© keepln© c f the pu blic acccunts pur suant
te Section 10 o f th© ACt o f Ju ly 31, 1384 (U. 8« Gode, f I t le 5« Se©«
255) « th ls Dopartmsnt must talc© «xoeptlon te such procedures«
*fhe Treasury Department oan not assume the r eep o n slb llity fo r
th© d lfflo u ltie a arieln© under General Hegulations le« 84« whlch ap
parenti? hâve not only retarded th© progress o f th© aud it but hav©
unnecesaarily Increasod the expense© c f th© Geveramemt« fh© îreasu ry
©ndeavorsd to avold th ese d lfflc u ltie » ln th© boginning, but was
unsuccessful becauee l t was unable to recsiv© from th© General A©ccuntln© O ffice such assurances a s are con sid erai neeessary te
previde a harmenlous working arrangement In accordane© w lth th©
comptrollib o m m x L
or
m
t x m v m > statxs
WASHINGTON
A-51607
June 17, 1937
The Honorable,
The Secretary o f th e Treasury«
siri
X hare year le t t e r o f Jane 14, 193?, as follow s«
"1 hare year le t t e r o f A p r i l 34, 193? (¿-6160?), requesting
that a ctio n he taken to cause the Chief Disbursing O fficer to symbol
iz e h ie accounts in accordance w ith Cenerai R egulations So« 84«
"On Ju ly 11, 1936, X wrote to you concerning Cenerai Regula
tio n s So« 84, issu ed by the General Accounting O fficer under date
o f June 18, 1936, fo r the purpose o f prescribing a new «yeten e f
sym bolizing the revenue end appropriation accounts o f the Cor em
isent« In wy le t t e r X sa ile d to your a tten tio n certa in objection s
which th is Department had concerning the manner in whloh those
regu lation s wore issued«
"Tour rep ly o f Ju ly 30, 1936, w h ile acknowledging the need
for c lo se cooperation between th e General Accounting O ffice and
the Treasury Department in m atters dealing w ith the handling e f ap
p rop riation s, fa ile d to suggest a reasonable baste on which a proper
working arrangement might be established«
"(hi August 10, 1936, during my absence from the O lty, the Ad
m inistrât ir e A ssistan t to the Secretary o f the Treasury, a t ay long
díctanos telephone d irectio n , acknowledged your le t t e r o f July 30th.
In the Department*§ le t t e r e f August 10th, the Treasury endeavored
more f u lly to se t fo rth i t s p o sitio n in the m atter, and indicated
i t s w illin g n ess to cooperato w ith the General Accounting O ffice,
w ith the understanding, o f ocurso, th at duo regard would bo girm i
to the Am otions and d u ties which the Congress has rested in th e
Secretary o f the Treasury in m attere involving the issuance e f
warrante on the Treasury (ü . S« Code, T itls 8 , See* 363, and T itle
31, See. 14?) and the keeping e f the public accounts (0* S. Code,
T itle 8 , See« 3 8 8 ).
3
Regulation* Ko. 84, ral«»« a sa tlsfa o to r y arrangement can be reached,
th ie Department najr be foroed to th« P o sitio n o f advislng the dep&rtment« and establishm ent« that 1t w ill be necess&ry a fte r July 1 ,
I937r to include in voucher» submttted to U li» Department fo r pay
ment ths Symbols and t it le » o f th« approprlatlona &» carrled ln tim
o f f ic ia i aoooant« o f th® United Stato» Treasury Department and in cludod in Treaeury warrant», ln th i» oonneetlen, 1 bhiak 1 t advisable
fo r me to advlae you that I now havo tandor oonaideration th# »Otting
tsp on tho books o f tho Treasury a» »«parat« Appropriation» a l l sp~
propriation» whioh herotofor» har« b««n confcined, fo r adm inistrative
conveniamo«» andar « la g le Appropriation t it l« » , « ffo o tiv « Jnly 19
1937. I f your o ffio « ha» «my Suggestion« v ith resp sot to th» m attar,
1 ahould b» glad i f you w ill advise n».
i regret th at i t 1» neoossary fo r m to tafce tho P o sitio n
indioatod in th is lo tto r , bat in v i m o f tho a ttitu d e that tho General
Accouating G ffioo ha» assumed concem ing U lis m atter, I see no a ltern a
tiv « , «Ino« I b e llo r e 1t le my r e sp o n sib ility to disohaxge th« doti«»
laposed upon tho Sooretaxy o f tho Treasury by law.
Tho present p ractica o f the Chief Disbursing Offleer ln render
ing aooount» to thè General üoeounting O ffice in accordano# w ith tho
aaaner in whioh funds aro advanced to h in on Treasury warrant», appaar» to bo in oonforaler w ith law. I t w ill bo naosssary, theroforo,
th at furthor oonsideration be glven to th® roquest oontained In your
le t t o r , »inoo i t 1» doubtful whether any ohaage oan be zaade u a til tho
d lf f lc u lt ie » betweea th« Treasury and th# General Jteeounting O ffice,
whleh wer# oaueod b y tho issuanee o f Regulation« Ko. 84, can bo worked
out.
Tory tru ly your»,
(Slgaed) K. Mergenthau, J r .
Seerotary o f tho Treasury
Honorable Biohard K. Ü l i o t t ,
Aoting C o n tro ller Genoral o f the United S ta te s.
m.-HLE
«Tune 1 , 1937
respeot to tilo countersigning o f Treasury warrants, th s prescribing
o f ad m ln lstratlrs appropriation and fond accounting procedures in
tb s several departments and establishm ents» tb s aud it and s o t t i «mont
o f pob lio accounts, and the fin a l determ ination o f o«sotten» ln volvina tb s law ful usos o f appropriations*
T
I t should bo understood th at th is Department doso not question
tbo auth ority o f tho General Accounting O ffioo to prosoribo »the forms,
system*» and procedures fo r adm inistrative appropriation and fund ac
counting in the sor oral departments and est& blishaents, * including
tho "adm inistrativ#* appropriation and fund accounting in it o own ad»
m inis tra t 1rs bursaus and o f flo ss* Howorsr, whan tho Congrues rostod
authority in tho Oonoral Acoounting O ffioo to prosoribo tho admt&le- )
tr a tir o appropriation and fond accounting proooduros in tho sororal
departments and establishm ents, I t obrlously intondod that soldi pro» '
codurss would bo in harmony w ith tho b a sic accounting structura o f
tho Government a s prorldod by tho Congress it o o lf , and that tho au
th o rity would not bo oxoroisod In a annnor which would bring Into
tho Oonoral Accounting O ffioo functions which tho Congress intondod
to bo performed by othor executive departments and a g o u d ti o f tho
Government* Therefore, whon tho Oonoral Acoounting O ffioo assumss
authority to proscribo proosduros which in tsrfo ro w ith proper performanos o f tho datlo* rostod by tho Congress in tho Secretary o f tho
Treasury# such mi those involving tho Issuanoo o f warrants 0» tho
publia Treasury and tho hooping o f tho pabilo aooounts pursuant to
Soetlon 10 o f tho Act o f Ju ly 31« X8W4 (tI# S# Godo» T itle 0» Sos*
285)# th is Dspertmsnt oust tatas exception to such prooodaros.
The froasury Deportment can not aooums tho r e sp o n sib ility
for the d iffic u ltio o a r isin g undor Oonoral angulations Is* 84»
which apparently hare not only retarded tho progress o f tho o a d lt but
hare unnooossarily Inoroasod tho s o n s o s o f tho Ooronamnt. The
Treasury endeavored to avoid those d i f f l e d t ie s In tho beginni ng,
but was unsuccessful because i t was unable to receiv e from tho
General Accounting O ffice such assurances ao aro cons 1dared nsoossery to provide a harmonious working arrangement in accordance w ith
the p rin cip les »«pressed In tho Department1» previous le t t e r s . Such
regulations have not only inoroasod tho espanse o f th is Deportment
butiapparently haro a lso added to tho adm inistrativo áspense* o f
othor departments (so#* fo r essaci»» Bouse Subcoœaittse hearings ^
tho appropriations fo r tho Havy Department fo r tho f l e s s i year 1838»
page 387)»
w ith a view to elim in ating tho added espanso in th o D ivision
o f Disbursement o f tho froasury Department as a r e su lt o f General
My daar Judga H U o tt;
I bar« your l i l l t r o f A prii 34, 1937 (A-51607), raquaatlng
tbnt a otioa ba takan.to cause ih# Chlaf Diaburalng Off i c a i o ayufeoli** M a aooounia la accordano# w lth Sanarmi Bagolai lona So. 04•
Oa July 11, 1936, I «rota io yen concarning Ganaral Bagol&tlona Ha» 64, i atoad by iba Sanam i Aocoontlng O ffloa nadar data o f
Juna 16, 1936, fa r iba purpoaa a f praacriblng a naa ayaiam a f aymbolitln g iba raranua and approoriatlca aooounia o f iba Soraronani. ln
ny la iia r I añilad io your a ita n ilo n oari&ln objaailona whlcb ib is
Doparimán t bad coaearnlng iba ninnar in «Mah ihoaa ragul&tlona «ara
laauad.
Toar raply o f Ju ly 20, 1936, «M ía aobnowladging iba naad
far a la ta cooparation baiwaen iba Ganaral Accounting O ffloa and iba
Traaaury Dapartmant la mattar* daallng « iib iba bandi Ing a f approprl~
a ilo n a , fa lla d io augnati a raaaoaabla b a ila on «blob a propar woricIng arraagaaant nlgh i ba «atabllabad.
Qn Augnai 16, 1936, dnrlag ny absanca fron ib i C ity, iba
A dM altiraiiY # A aalaiani io iba S terita ry o f iba Traaaury, a i «y
long dlaianea ialapbona d lra a iia n , acknowladgad yonr la iia r a f Jnly
30ib. In iba paparino«!1« la tta r o f Augnai XOib, iba Traaaury «ndaavorad «ora fu lly io sa i fo rib it a p o ti ilo » in tba n a iia r , and
ìn d i catad l i a « ilìln g n a a t io oooparaia « iib iba Sanam i Aocountlng
O ffloa, « iib iba nndaraiaading, a f oouraa, ib a i dna ragard «ould ba
giran io iba fuactiona and duilaa «blob ibo Coagroaa baa vaaiad in
iba Saaratary o f iba Traaaury In naiiara Isra lrln g ib a iaauanaa o f
warrant« on ibo Traaaury (P. S* Soda, f l i l a 6 , sao. 343, and T lila
31, Saa. 147) and ib a fcaapisg o f ibo publlo aooounia (ü . S. Som*
T lila 6 , baa. 266)•
a li aaaao io no ib a i ibo d lffio u lilo o «blob baro ariano
aa a m a u lt o f ibo ioauanoo o f Qonoml Bogolatlona So. 84 oould
baro bota aroldod i f ibo Sanami Account lag Off loo bad giran paappr
raoognlilon io ibo d ia iln o ilo n baiwoan ibo duiioa and ratp ontlbllfcilo a rootod by ibo Oongrooa in ib o Traaaury Dapartaaat in m tta ra
r o la tia g io ibo iaauanaa a f «arm ai« and iba kaaplng o f ibo publlo
aooounia, and iboaa raatad in iba Sanami Account lag O ffloa « lib
o
o
p
T
cou raoL u a
gkkshal
oí
m& m n fm
states
wAastmmm
A-5180?
April 24, 1937.
Til# Honorable,
fh e Secretary o f Ih# Treasury.
S in
th e Chief D ittar ein« O fficer, Treasury Department, In renderl a i b le accounts current to th is o f f ic e im e eys&ol number# which
were In e ffe c t p rior to the promulgation o f (lenerei Regulations
SO. 84 ranking I t necessary fo r th le o ffic e to t r e n d e te tb s symbol#
•hewn by him to the new eyehole prescribed In Cenerei Regulations
He. 84, thee retarding the progress o f the aud it mâ unnecessarily
increasing th e expense* o f the C o m m en t.
1 «h all he p leated I f you w ill take euch a ction a# w ill cause
the Chief Disbursing O fficer to symbolize h is account* in accord
ance w ith General R egulations Ho. 84, thereby f a c ilit a t in g the
économisai flew o f the weile in which wc arc e l l in terested .
R esp ectfu lly,
(Signed) R. H. E llio tt
dating Comptroller General
e f the United S ta te s.
- apnrpo®® o f © la a sifica tto o watt i m i th® r®quir®raant® o f th® Troasury
Department equally a» « a ll &» thè auditing naads o f thè GeneraI la coonting O ffice. H la &»l appare»t how tha Generai Aocounting O ffioa
oaa becera« » u ffic ia n tly aoqnainted wtth thaaa raquirementa without co»»
an ltln g tha Treaenry Department.
Xt la e e se n tla l that tha Treaenry1a accanate ha ao arranged
aa to a&ka tha» auaeeptible o f axpadltious c la e e ific a tio n and analyaia.
Tha p rin elp al &aad o f tha General Aoconnting O ffioa« oa tha other hand»
vouXd appaar to ha a manna o f ready Id en tific a tio n o f tranaaotlo&a wlth
tha aeaoaat to whidh thagr raXata.
Tha Saoratary ha» asked aa to aay that ha would appraoiata i t
I f you vould leene inetruction» th at hereafter ao changee ho mada la
tha General Accoratine O ffioa oa warrant® slgnod hy or on hahaXf o f
tha Saoratary o f tha Traaaary, aad that a l l warrant® which i t I® haliew ed bara noi haaa «warraatad hy Xaw* ha ratuiaad w tth a la tta r
ca ttin e fo rth tha raaaon® therafor.
Tha Saoratary hai aakad aa to ®ay aXao that w hllo Imi fa a lo
that tha ra ep cn a lb illty iapoaad tipo» h i» hy Xaw w lth raapaot to tho
issuanc® o f warrant® oa tho Troaanry and tho kn®pla£ o f tha pnbllo
accorata nakao I t naoaaaary fo r him to taìc® tho p o a ltio a outllnod
horoln, ho ridde® to aocnro yoa o f tha Bapartmant*® daalra to f a liy
cooperato w lth tha Oanaral Accoratine O ffioa to tha and that a propar
aecoanting w ill ha rado to tha Oanaral Accoratine O ffioa hy a l l parto»®
who coma ia to po»®oo®to» o f neaaya bolonging to tha Baltod Bta tto .
?®ry tm ly yonr»,
(Slgnod) In» I* McRayaold®
iidm inl®tratira A osistant to tho Saoratary
HonorahXa Richard R. E llio tt*
•icting Cofcptroller Oanaral
o f tho United Stato®»
Washington» 0* 0*
U tili
Angnat 6» 1936
0
0
y
,/ y
August 10, 1936
I)ear Judge H llo t t :
In thè ab sondi o f S ecretar/ ISorgenthau, who a t preeeat Is
«ut o f thè c it y , I wlsh lo acknowledge thè reoeip t o f yuur lo tto »
o f Jh ly 20, 1936» iw-51607, la reply to thè S ecreta r/1» lo tta r o f
M y 11, regh?dlng General Bégul&tioa» No* 84, r e la tia g to thè symbolis a tlo a o f reoeip t and appropriati;» accecato.
I cenferred tritìi thè S ecretar/ w o r long-distane« telsphone
ooaoerning tho subj eot « attor o f h i* lo tto » o f Ju ly l lt h , and ho ha»
dlrootod that tho Treasury maho no ocmaltioRato w lth respect to tho
use o f tho aaw oy?*ol« referred to la tegu latioa» Ho, 84, la *o fa r
ao tho Treaeury warrants and dlohortlng accecato aro eo&eer&ed, u n ti!
a aere d « fin ito uad«rstanàing i s reaohed as to tho woiklng arrange
ment vhloh lo to e x ls t la tho future hotwoea tho Treasury Department
«ad tho General Acoounting O ffice as i t rol&too to tho ioouaaoo o f
warrant! or. tho Treasury fo r which tho Seoretary o f tho Treasury,
under tho law, i s priraarily roopoaolhlo. P a tii such oadorstaadlag
lo reached, i t lo b eliered that tho offootlw o dato o f Sonerai Higo*
la tlo n s Ho, 84 should ho postponod,
Whllo tho Seeretary approdato« tho statomento oontainod
la yonr le tto r eoneeratng tho d o o lr a h lllty o f o lo ser eoopsration, a
oarofol readlng o f tho lo tto r f a ll» to di « d o so a propor recogaitloa
o f tho Treasury1s authority and reo p o n slb lllty under tho law. I t
woold a leo appear that thoro lo aot a propor cosprehension o f tho
Treasury Department1o nood or eonoom w lth roopoot to tho use o f ao~
oount symbol« In it o d o lly routine.
Tour lo tto r aesumes, fo r Instano!, th at tho uso o f «yrnhols
on warrant! and aeoounts Is o f oeneera p rln o ip a lly la connection w lth
tho adiftialstratlwo and f is c a l acoounting end audlt proooduro and,
theroforo, I t i s ocncluded that tho p rescrib iag o f syssbol» lo a propor
fu n ctica o f tho Oonoral Acoounting O ffice. Xt lo a ot oloar whothor
your roforonco to f i soni accounting wao Intondod to à iffe r e a tia te
hotwoon f is c a l acoounting la tho froaoury Department and tho
la in lstra tlv s accounting in tho sorerai àerartm ents, hut, la any oront,
tho Troasury Department doso aot concur la tho concluslon.
Tho T re a su ry Bepartraent considero tho o la o slfic a tlo a «ad
symbolisr&tion o f acoouats so a m etter p rln o ip a lly o f ito condirà»
end any system o f account sp ub ollsatlon which i s doslgnod fo r tho
«•
§
1$ I l b e llevad the b en efit* whlch «111
u n thaa compénsate your departmant
aary fo r 11» accompli shment,
•»
v iv a it
for
from the change «111
suoh «ork and the tin s neoes-
1 am advlsed that th» revised symbole
havs been adopted and put lu usa by a i l other departasnts and es
tablishm ents o f the Govsrnnent aad 1 hopa you «111 fia d l t p o ssib le to
bave your departaent aake the nseessary changes as sooa as m y be»
«ith ou t interruption o f the pressât operation andar the ne« se r ie s o f
symbole» w lth the assurance oa the part o f th is o ffic e that shouié
l t bo donna that «gty provisions o f the sa i à régu lations or aay o f the
symbole preseribed th ereln are net workable in your departraant» any
changes which you aay suggest «111 be givea a ost oareful and *y®g>ath e tlo considération*
Xf» however» upon further considération o f
the natter» you fe e l th at the e ffe o t o f the régu lation s upen yoar
départaient «111 bo eutih that the in te r e e ts o f the Government oan
b est be eerved by suspendlng the operation o f the régu lation s u n tll
Ootobsr 1» 1936» and you «111 se advtse me» that esa be dono» but
1 eln cerely hope suoh a o tio a «111 net be neeessary*
O ordially yours»
(Sigaed) B. H. E llio t t
Aotlng C osptroller General
o f the Itoited S ta tes
4
I w ish to mesure you there I s no inte& t or piadoso on the part
e f th is o ffic e to &saurae or to in terfere wlth any o f the powera»
fu n ctlon s, or r e s p o n s ib ilitis s which the Xa» v e ste in or l i o s o s
opon the Treasury Department w lth respect to the prepam tion o f warrante or the malntenance o f f is c a l records» oto*
1 aseóme i t woold not serio u sly be queetioned that the primas?
parpóte o f roooipt and appropriation sye&ole ie accountlng.
The
use o f suoh aymbols on the warrants and the aooounte se t up on the
baeie o f the warrants in no vray a ffe o te the oharacter or v a liá lty
e f eith or and vould torre no good parpóse other than in conneotlon
w ith the adm inistra U ve and f is c a l acoountins and audlt procesares
whioh fo lio » the issuanoe o f tho warrants
aocounts.
and
the se ttln g up e f the
Henoe» there woold appear to be no roo» fo r reasonable
doubt that the prescribí»*; o f the symbcls i s a proper funotlen o f
th ie of f ic e - a fu n ctio» which has been exeroised bjr th is o ffic e for
«any years.
Se®» p a rticu la rly , General leg u la tio a a Ko* 44 o f June
1» 1925» and lo . 6? o f June 37, 193$.
General Hegul&tion* lo , 34»
hero in queetlon» i s prlm arlly a rev isió n o f
fo rm a r
regulatione
and preecrlbee only suoh requirements a s haré been deeaed neoessary
fo r aooountine and aud lt purposos.
The sol® parpóse of th is rev isió n
o f the regu lation s le to Inprove accounting and audlt procederes.
I t le appreelated that the vork lncident to ehaaging a l l c f tho
•ys&ole en the recordé o f yeur department le such th a t I t could not
be eoaven leatly aoooo^llshed fo r someti&e a fte r June 30» 1936, b a l
m 3 «•
augi« by thè acoounting o ffic e r e In thè General Aocounting
O ffice. K everthelsaa, I f« « l that ths obj e stiv e aowght can
be b a tter a c c o g li shed and th è in te r e st o f thè Government
would beet be served i f there should be e b a tter understand
ing beteesn thè Trea#ury Department and thè General Accounting O ffice ooacem ing th e ir reep eetive fu iicticn s andar thè
law and in which they bare a rela ted in terest»
•I therefore wieh to make t h is suggestion w ith raspaci
te General Hegulation# Ho* 84« naaely, that th è syaiem o f
sya& ollslag revenue and appropriaiion accounus contained
lt» tfgft« dnring whish
timo thè l’reagury Department and thè General Aocounting Of*
fir n may take J o in t a ction w ith raspaci th ereto . Havlag
in adnd that thè ohangisg o f appropriatici! eyafcols te
snobere oon eietin g o f moro d ig ito than thoss in th s p rsssn t
symbol® eay in veivo some soriano d iffic ili t i ss in othsr
branches o f th s foderai s m i s e whioh noe meohanioal equipatant, and aay in other respect® inorasse th è a d a ln letra tiv e
espanse« o f thè Government beoaw.se o f thè work already dono
which would bave to be ohanged« l t would team deslrable
that thè departments o f thè Government gene r a lly be glven
an opportunity to p a rtleip a te in a frien d ly dlscuesion o f
thè new procedure. *
l t le reg rstta b le that there wae not more time betwean th s dato
s f d istrib u tìo n o f th s regu lations in queetion and ths date en which
they vose made e ffe o tiv e .
U kew iee, l t lo reg retta b le * bsoauso o f
thè 4&int a ctio n required en warrant# and thè advantage o f haflng
thè reoords o f your department and o f |h i# o ffic e show thè seme so»
cou&t eynbols« « le , * th at there wae not con su ltation w ith your do*
partment before thè regu latlcn e vere ieaued.
1 f s e i that in a l l
suoh net toro there should be co rd isi coop eratici betwean th is o ffic e
and your department.
3
*X am sur# th&t you vili agra« that thè Treasury De
partment and General Account ìng Offica bata a asatuallty
of interest in mattare of tbis ktad uhi eh erfcend beyoad
tba interest which otbar dsp&rtraent® of tba Government
mjr bata, While tba freaaury Department» ae all otbar dapartmants, b&s ita admlnietratira acoounting problema la
e&ch of ita eateral administratite bureau* and offices, tba
Seeretary of tba freaaury baet in additioa thereto, aa entirely separata and distinct responsibility with raspasi
to tba iaeuanca of « a r m a t a on tba freaaury and tba mala*
tanance of tba pabilo aeeounts relating to all doparti
menta and aatablisbmenta of tba Goveriiaeat,
«Presumably, General H egulatloas Ito, 84 ta ra iaaued
paramani to sso tlo a 309 o f tba Budget and Aoeoontlng d o t,
Aitbougb 1 do n oi quest ion tbo m otites whiob aotuatad thè
iaananoa o f H egolations Ho, 84, theao regu lation s and tba
orai atatamenta mede w ith referente thereto la p ly that
h ereafter thè General Account ing O ffice proposta to porforsi
a funotion heretofore parforaed by tba freaaury Itopertmsmt.
Wbila tba atatements raade by representativas o f tba General
Accounting O ffice ampbaaise tba need fo r ayabols to ba mead
fo r audit purpoaes, tba manaer in whioh tba regu lations «ere
iaaued, when oonsidered in thè U gh i o f otber oireums tancas,
i s snob as to warrant tba asaumption th at b areafter tbo General
iUscountiag O ffice, rather Iban tba Secretary o f tba fraaaury,
parpases to ¿etormlne tba character o f tba inform atica to ba
oarrìad in fraaaury warranta and in it a o f f ic ia i acconnta,
l f Ib is assumption i s co rrect, thon 1 must tabe tba p o litic a
that tba S c o r a i Aooonnting O ffica has assumad authority
whiob, in tqy opinion, baa n oi baen vastad in i l by la * , and
in wbldb tba fraaaury w iH n oi concur.
»1% ahould a l so ba atatad th at tba fraaaury Department
dosa noi qu sstlon tba a d v isa b ility o f davising a System o f
sym bolization o f assonate, to be releaaed in cossraaiaat
fo t» and meda av a lla b la as a handbook fo r tba usa o f Govern
ment o ffio era and es$ lo y ees, The Department dosa, however,
questlon tba marnar In wbldb such purpoaae ara propasad to
bo a c co sc ii shed, e sp ecia l ly when i l involves a prerogative
o f tb is Department o f fundamental impórtanos, and wbldb
eventual ly sasy land to d lffio n ltla a in tba bandling o f tbo
routéSw work whioh baa baco in fosca upon Ib is Department
by law. In tb is oonneotlon X am n oi unaindful o f Soatiam
309 o f tba Budget and Aooonnting d o t, or tba fa c i that
Ib is mattar may bo lookad upon from a slig h 'tiy d iffa m a i
o
o
F
(HaapfaoMS
okksm » of
t hi r m v m >
statss
T
WASHINGTON
A-51607
Ju ly 30» 1936.
Honorable Heary. tóorgenthaa, Jr*»
Ssorstary of Iba freasury.
Dear Mr» Morgenthauí
fh srs has baan racetvsá and vary ca refu lly considsred your I f H w
o f ¿u ly 11, 1936»
m
fo lio » t í
"TMa has roforoneo lo ths conf«renco betvesn yon and
ths Coamissionar o f Account» and D sposits o f th is Dapartmsnt, ro la tiv a lo Gsnaral H egulations Ho. 34» lascad by
Iba Ceasral Aecountlng O ffico andar dalo Of Juno 16» 1936*
«Fheee ragulations» 1 uaderstand» próvida for a na»
systej* o f sysfcollsiiig Iba various revenas and appropriation
aocounis o f Iba Govsrnmant. fha diga»! o f syafealft 1sanad
as a parí o f Iba regula!lona Is a manua l co n sistln g o f 388
mimeographsd shaeis» th s grsater parí o f vhieh ara prtalad
da both sid a s o f iba shaet» so ib a ! Iba manual aovara «$~
proxim alaly 900 pagas* *bs «anual o f sySfeal» vas » o l
dalivarad lo iba Saoraiary o f Iba freasury» a s la ousiomary*
u n iil a fia r Iba baginning o f iba naa f is c a l yaars ñor vas
Iba o ffic e o f iba Saoraiary o f Iba freasury constatad or
«oda acquaintad v llb Iba o o a lta ls o f Iba asuma! prior lo
l i s roooipi*
NAsIdo fro » o o rla ia la p lio e tlo n s which aro o f oonoor»
10 iba Saoraiary o f Iba frsesu ry w ilb reapeol lo Iba daol# nailon o f aooouni sya&ols and H ila s lo be oarH ed on » er
rante issu sd by ib a Saoraiary o f iba freasury pursuant lo
lev» and oarrlod in iba pabilo accounis aalnlalnod upan
Iba books o f Iba Frsesury * fa lla r a la fu m lab Ib is Departmeni v llb a oopy o f iba «anual o f syab ols, or la an
egúela! Iba froasury v llb l i s con loáis s u ffio is n ily In
advanes lo parad! o f ib s plannlng o f l i s work» prasanls
o sr la ln p ra o ilo a l d lf f lc u liia s lo iba Daparlisaal «bioh
11 dld nal aniloipala*
-
2
-
84* the*« regulations and the oral statement» made with reference there
to Imply that hereafter the Oeueral Accounting Office propose* to per
form a function heretofore performed b y the Treasury Department» While
the statements made h y represen tat ires of the General Accounting Of
fice emphasize the need for symbol« to he used for audit purposes» the
meaner in which the regulations were issued» when considered in the
light of other circumstances» is such as to warrant ths assumption that
hereafter the General Accounting Office* rather than the Secretary of
the Treasury» proposes to determine the character of the information
to h e carried in Treasury warrants and in its official accounts. If
this assumption is correct» then 1 mast take the position that the
General Accounting Office hat assumed authority which» in my opinion»
has not been vested in it hy law» and in which the Treasury will not
concur«
It should also he stated that the Treasury Department does net
question the advisability of devising a system of symbolization of
aooounts» to be released in convenient fora and made available as
a handbook for the use of Government officers and e&$loyess. The De
partment does» however» question the manner in which such purposes
are proposed to be aoooi%>lished, especially when it involves a
prerogative of this Department of fundamental importance, and which
eventually may lead to difficulties in the handling of the routine
work which has been imposed upon this Department by law« In this
connection I am not unmindful of ¿action 308 of the Budget and Ac
counting Act» or the fact that this matter may b e looked upon from
a slightly different angle b y the accounting officers in the General
Accounting Office« nevertheless, X feel that the objective sought
can be better accomplished and the interest of the Government would
best be served if there should be a better understanding between the
Treasury Department and the General Accounting Office concerning their
respective functions under the law and in which they have a related
Interest»
I therefore wish to make Ibis suggestion with respect to General
Regulations Ho. 84* namely, that the system of symbolizing revenue and
appropriation accounts contained therein be deferred until October 1»
1836, during which time the Treasury Department a n d the General Ac
counting Office may take Joint action with respect thereto. Having
in mind that the changing of appropriation symbols to numbers consist—
S g o f m o r e d i g i t s t h a n t h o s e in the present symbols any involve ids*
serious difficulties in other branches of the W i srali service which
use mechanical equipment* and may in other respects increase the ad
ministrative expenses of the Government because of tha work already
done which would have to be changed» it would seem desirable that the
departments of the Government generally be given a n opportunity to
participate in a friendly discussion of the new procedure.
Very truly yours,
(Signed) H. Mergenthau, dr*
Hon. B. ». X l U o t t ,
Secretary of the Treasury
Acting Oeaptrellsr General
of t h e u n i t e d States,
Washington, D. 0.
(SfBilffiO)
0
0
P
July llt 1936.
T
Bear Judge Elliott ;
This bas référencé to the conférence betveen you and thè Co»»
aissioner of àceounts and Depositi of this Department, relative te
General Régulations Ho. 84, Issued by the General Aoocuntlng Office
andar date of Jane 15, 1926»
fhese régulations, I understand, provide for a ne* systea of
syabeliting the varions rerenne and appropriation aeoount» of the
Government.
The digest of symbole issued as a part of the régulations
is a «mimai, oonsisting of 338 sdmeographed shoots, the greater part
Of vhleh are prlntod on both eidos of the shoot, so that the «■».gyefl.
eovers appro x i m t e l y 700 page», The marnai of syr&ols «as not do»
livered to thè Secretar/ of the Treasury, as le oustonary, until
after the begixmlng of the u m fiscal year; nor «as the office of
thè Secretar/ of the freasury oonsulted or made acquainted with thé
contente of the mairoai, prior to its reaelpt*
Asido frota certain implication* «hich are of concern to the
Secretar/ of the freasury with respect to the désignation of aoeount
syafeels and titlos to be oarried m warrant# issned by the Seoretary
of the freasury pursnant te la«, and carrled in the public acocante
laalntained upon the books of the freasury, ¿allure to f u m i ah this
Department «ith a copy of the manual of systole, or to acqualnt the
freasury with ita contents sufficienti/ in advanoe to posait of the
planning of its work, prosaste certain praetloaî dlfficulties to tho
Department whlch lt dld not anticipato.
I am sure that yen wlll agréé that the freasury Department
and General Aeceuntlng Office hâve a ontuality of interest in matière
of this kind whlch extoad beyond thè interest whioh othor dopartments of thè Government msy hâve. While the freasury Départaient,
ae ail other departmeata, has its administrative aecouating problems
in eaoh of its several administrativo bureaos and offices, the Sseretary of the Treasury has, in addition thereto, an entirely separate
and dletinot responelbillty «ith respect to thè U s u a n e # of warrants
en the freasury and the maintenance of the public acoeunts relatlng
to ail dopartmonts and e stabi i shmen ts of the Government*
Presumably, General Régulations No. 84 «ore issuod pursuant
to Section 309 of the Budget and Aeceuntlng Act. Although ï de net
question the motives whlch aetuatod thè isguance of Régulations No.
&Â^tsv\^cAAL
jp^(— I^A
S^~
h A yw^
3?
9»Xy
amch
«oparvUloa a f
hi*
«al* &*
ih«
Ca»«ra«» « h i *• W t ^
imp^ly thramgh «ccaatan»! l»T««U£ftiioa.
Sueh * «inglin* «f hu«t «xaamfeir* r a a p o m a i M H t y ni III Ih*
funai!«» «f i»;Ii'fe camlà »al da o t t a n i « # iha» la prajmdio* Ha»
la t o * r U y af Ih» G«*pt*all«r ^ a a r « ! 1* »adii»# Hettda# intradm«!»«
fcapala«* c«»i\i«ian lata «araram«i&l»l affaire.
firn
i m & i l i t y af Ih# ¿ella* Caapirallar Oaatral la
rituali*® tha izapUeattona «f Hi* propoaal la* 1 t&iak, a »or®
«•riama r«fl*©tla» a» hi« capacity to «Md#ri*le* «mah a re«pan«i»
hillty Ihan a»y critici»* #t hi* « M a h anyone «1«« »i«ht «al««*
Il 1« •SEiy*»*ly Iwporlant Ihal a «aad «ad effaetlr© ay*t*n
af aiidli af dovarnstasit «eeamat* ha *»Uilalwi4v sa#
af ito® dftSMgara la flit# propaaal af lini
1« ila
mtmm
h» m
i
Aettng
m%
ih» laaai
Camp traila* 0*»*ral
la ih« integrity af Ih« «odili»« prò«»»«.
Il «aald
Bivi aaly %• canfmataa af * * # p * a * m H t y hmi hy Ih#
proto&ili ty th«t «a «iriagaal » «a»trai «▼•* «spanditmr** «ami#
ratmli in ih® «accapti*» %
imm
Caagr*»* af **ay «paalfle «pproprlnlien»
all «up*rri»ia» hy ih« <3®n#r*l
Off!««.
Tarar trmly y a w » *
¿ A1/"c**j h ( ù /iCj
m ? 1 < T tll
1-10-3S
Ronorahla ***** f . I m * » #
Ohalraan* S*l**t Cansaltl** a*
Q o r « r m * n t Organi tatlaa,
tteltéd $1*1#*
faahingtoii, 1« f«
Snclaamr**.
S * c r* ta ry a f Ih « fra a n m a ry .
14
«0
mmte%
**
that romuvat it OH» of thè ehtef
thie 0 0 Muil«it&<Mh.
l i m i «afe** l t orni
®f
ptxrpo***
W
of
J»*l««* dealre
te ««fonare! the lanfelly I » « l e é «ntherity ef thè « f M u q r »•*
partirmi, tati vattur W
orkmi
*1 * l i a n »
thè ttoqptseller deaerai thè aattoority he
teliti
tini ni g m a t
mmk® wmlà te ateo-*
Intel? fatui te geo* immisi e tratteli and eenld introduce untola
peeelhUItles if eeafnele» aaà hetrayel ef thè |ttUI« traet.
The CoNptfelle? « n i » il*« nw peet fe r th ie aaw a»thorlty
te oontaiaed o» p a m
li
e f hi« rep ert.
K* propose* aa «mm^neat
to S eetlea 303 e f thè Budget «ad Aeaeaattag dot Celta* m tetm ) te
«ned aa fe lle « » t
«rierided» th at app*»priatea or et&er eoa»?#»
avallati« te «a? deperti»*»! e» e«tahiÌ8haeat a»
Indio«ted in Seetioa i» «hall »et he edvaaeed for
«spenditare e r he eapen&ed «heaeeer thè re li «eh-*
stantia! felini» te in« tali and »alatiti» «arate»«
ef «eeenatiag and preeednree relatlng te thè teoeìpt, depoeit«
or «speadltas* ef
pahlle» enael-pnhlle« traet er corporate fenda»
preterite* pnreneat te thl« eeetle»**
The effeet ef th* «smotueat ef thie prope*»l *enld Indeed
he te neh» a ner? usar ef thè Oeaptreller deaerai,
lt nenld glre
hi» «ntherity te interfere witfe «ad te iralHfy elao«t «a? aet ef
sa adniai« trotine orfica? ef thè Churenuaeat» te henper hy delay and
te hlookede hy laaetiea er eaprloe thè «sarei«« ef thè aoet *«•eatlal governatala! fuactlons.
lt eenld la effeet naka hi» tói
«eet poverini adWLaletraUee o ffic e r e f thè 0eY*rn»*at# het wlthent
«ay reepoaelhlUty te thè C&ief »stentine eleeted hy thè peonie «ad «ith
mot heen ©ooperative* they have instead tota peremptory, artitrary, and csprioiou®.
I shaII he glad to snppXy to your Coniai ttee, if you
Piotila deair® it, abund&nt evidenc® im «upport of thla statement.
5 he Gofiptraller Sonora! appears to tare tnken too litorali^
tilt presa referoncea to bis positìon ma that of "mntchdog o f thè
irsasury** * and In seeteing to reali«® that figorative desoriptìon
to taro ooneelved M a
function to to that of «nappla# at thè hools
of thè adnlal stimi ivo offieer# of thè Oovemnent» and mndertaking
to 'hanper thoro in thè faithfhl perforarne® of their dubies, rather
A v~
than oooporatin^ triIh then to rondar raore effioieat Service.
Hom-
over appropriate that attitmé» nay he to thè morìe of thè Coarptroller
General in hls foactioa ne su auditor, it
those fanetloae —
dm
net he applled to
«neh as that of presertViiig forno of record« —
whieh are eappl-mental to thè mork of thè admini stintine brandi of
thè Government, without causine ia^ury to die pubi io servi c ® .
50 Interfere with thè proper e r e m i se of adaiaistrative
anthorlty io te interfere midi* and to divide, admialstrative
responsibility.
General9« effort,
5bat ha« beem thè direetion of thè Ceaptroller
Hot satisfied mith mhat he hai acoos^lished bar
a prooeee of detenslhed infiltratisi* and aesertlon of unaathorised
authority, he le nom eeskimg
grani
of pomer.
th© Ooagress a moti
m&ting
•1$ *
Iti «dslililrativi gtaff ra accorai ing ijriiii diri rad by a
firn
of «uditori without glwiag Iti ora accoratami rad axeeutirai «
thorough opportunity to pati upon Iti worthlnait rad suilability;
rad ra fini of acc o r a t a m i worthy of confi aonco would radartako to
raaaaaaad such a syste» without fall eoasaltatloa with staff
accoratrati rad aaaautlras as to thè working ragni remante of thè
brailli e s rad a moti thorough offort to gattaia them on owery stop
ooateaplatgd.
Wfeat Uà# Congrass did la faot Ispira upoa thè Comptroller
Catterai wat a duty ti contali rad eeoparati with thi offlears of
tha era rat Ira departmentg la davi «lag rad pattlag lati offra! a
thoraughly adagiati
tyste» of dapartaaatal recordt.
fhat oca*
aliiloa by ito rary nature could not bara bora accampi!«hed
without tha aoat thorough cooperatici, dlllgrat offort ta radar*
stand tha problema al Ih which oparatlag ere cut Ira« ara faoad and
a spiri t af mutuai raspaci rad patiaat endaarar ta ranch a aaatlag
af alida.
Iha fraasury Dopar tment has alvays stood ready ta gira
affaat ta tha la» la ita fall lattar «ad «pirli rad to accoaplioh
tha rari af eooparatlaa which tha ira coniaaplatad.
Bat it hat
not baaa »et b y a slnilar spiri! aa tha par! of tha Coaptrallar
General*
It has not anjoyad tha eooparatlon fraa tha Coaptrallar
Cenarni's afflai which it had a righi ta aspaat, la wiaw af tha
axprass l a m a af tha Ira.
The Coaptrallar Gaserai*• rat long bara
\
''',<s»aàs
- u
brlefìy.
fini
-
C o n t r o l l e r deaerai1« interest is M
la provi din* papero for audlt.
M
H o say»;
"la «uch circnastance» liso Sonerai Ac
count ing Office bscarne» peeuliarly relatod lo
thè «olire ficcai machia®ry of thè Government
'aad tfcrough thè utilisatioa of thè fienai data
aeeeeeartly eoaeeairated la thè Sonerai Ac
count ing Office for bjbg prono»#» o£ £ & § audlt
il consti lutee thè center lato which thè aceeeatlag record« of thè Government sheuld and
are now betag preperir coordinate*. *
Xt should aot require arguatat te convince «or reascaably
latelligent per eoa that thè naia peypoee cf g o v e n m e n t or thè caia
propose cf kesplng Gov e r a a m t accecate le aot to provide materiale
far
m
audlt.
fhe aaia propose le to previde thè working equip-
aent for earrylag cut thè Geverameat9« fuaction».
adaletratlve propose; auditing le
m
Xt le a a ad-
laeident* and a eystea which
adequatola serve» a daini strative aeede aaet aeeeeearlly froaieh
adequate Information fer couplet« audlt.
But te subordinate thè
working aeede ef thè Government to thè propoee
cf
previdiag aa
abuadanee of documente for cadi t lag propose» would Inevi tabi/
be fatai te adnlaietratlve offici ency.
fhe Ooagreee hae aot given thè General Aeeouatlng Office
aay authority te do thi*.
fhe fallare of thè Ooagreee te givo thè
€teag>trolley General authority to force upo» thè executive department» aay aceoaatlag system he aay derise eoa noi be regardeà ae
aa aecldeat or «a eversight, sino« It eerreepoade te a eemaea^sense
vie» ef thè probi««.
Surely no private corporation would forco «a
10
tretiro appropriatioa and fund aeeounting in tho ««varal doparts c b I«
and ««t&blishnanto, «id for tho adaial «tratiro « X M i u t l o i
of flaeal offlearc9 aecotsnt« and alai»* &gaia«t tha TJaltad Stata«,11
It «a« o» thi« anthority that iba Coaptrollar Saaaral
rallad la attaaptlag to forca on th# f r a a m r y Bapartaant, wlthout
eomoult&tloa ar adecúate Botica, «a «ntiraly na« and coamllcated
«at of «yabol« for tha cantral raeaipt
má
appropriatioa accounti
la tha Treaaury, tyabols that «ara prava# t y eabeaquasit ravi«ion«
«id corraetioa* to ba 111 «altad to aaatlnf fraacory rafal roaaat«.
Coaaantiaf oa tha rafaaal af tha fraaoary to adapt tha «a ©yabalo la*
etaatlj, a coarta «tl«h iaaritably aaald haca acatad great caafnsloa
la tho pabilo aecouato aad aaadltao axpaast to tha Sovaraaaat, tha
Aatlag Caaptrallar General cowaaatat
*Hadar «xltllif la« it (tho daaaral lo*
caaatlag Offico) aay pro ocriba bat no potar
la giras to aafaraa coapllaaca rith praaeribad
praaadarta.*
Lctar ha addos
*M«ah coro rapld progras* womld ba no «arad if
tha lea lapoolxif thlo traaandoaoly iaportaat
m«pon«ibility ©arriad aloo tha atan« for
eaapalliag oh«arranca.*
H a a a h a r a la hls raport (Paga 4) ha glrtt hla Idaa af tha
parpo «a whieh thla autherity to pra «criba fora« «hould carra la
tha haada a f tha Caaptrollar Sanar al.
Thara tha prlacry atad of
adoqaata racord« for aialnlstratlra parpo*««, to falflll tho
faactloaa for «hloh tho S o r a maaat «xiiti, lo rocognitod bat
«■» Q «»
t f a t l w animisi«» la order to prorate ih» ¿«aerai pabilo interest
wherever t o treasury Department im« la any waylavolvod.
la
t o lattasi Oases t o Treasury Department Is responsible for '
handling t o corporations* ftal«, and has foil a doty to seek
solutions to tho pathless submitted to It by astiai «trat loo
agencies la eenaeoitea with Ito dally operation»*
the roe©»olila*
tloa of those differences 1» aot a task oersted by tht treasury D®partaient» oat tho work of tho Treasury weald ho greatly 1 loht oast
If tho General dcwouatlag Offloo should a t t o r i seriously to andar«
stoat tho operating problems of administrative agostólo» » and should
cooperate la tool slag accounting practices to aoot tho require
ments of good administration.
Both o f tho lasrtaaoos above aro revealing la their
roflootiea of t o general atti tads of tt§ Offloo of tho Cowp-
/
trollor General toward Its responsibilities.
J
t o y Illustrato
I
not only tho offert of that offloo to satoad tho sphere of Ito
responsibility la disregard of tho law, hat tho arbitrary «»4
peremptory method that It adopts to ooosaplldh this object,
She
first of the two eases Is wore important♦ however» olíH ü it shows
rosy d e a r l y tho spirit of t o approach of t o
General Accounting
Offloo toward oao of t o aost ismertant of t o responsibilities
with which It Is charged hy Sift*
t o t responsibility is stated la s o d i o » H Ü of t o
Budget and Accounting dot
m
follows?
* t o Comptroller Oeaoral
shall proscribo t o ferae» s y s t o s , sad procedure for adulais-
«kg*.
As to the Federal Soring« and Loan Insurance Corporation,
the Treasury*t r e sp o n sib ility «at only that o f a depositary.
The
ca p ita l o f th is Corporation «ne provided th ro n # the subscription
o f $100,000,000 o f i t s ca p ita l steck by the le s e Owner#1 lean
Corporation, which stock was paid for in the fon t o f BOXO bonds.
Congress did not seen make an appropriation fron the Treasury In
th is ease as i s u su a lly dem In creatin g corporations.
The
Treasury Department did not heve the r e sp o n sib ility e f issu in g
a «errent authorising the Corporation to spend i t s aonsy, as i s
deas la the cam e f a regolar départaient er establishm ent e f the
Government.
th e Treasury Dopartaent acted only a s the Corporation*•
hank.
0a page 21 e f tarn dating Comptroller G eneral's report i t
1c stated that tarn E lec tric lone sad thru Authority " is another
instance where the a ction o f the Treasury Department undertakes
to m unse! and diront the so ttin g up o f accounting procodures*,
and on page 27 a sim ilar rsfsrsa ee i s mad* t s the treasury Depart*
meat concerning the Home Owners* Im a Corporation.
the fa e te in these eaeee ere e s s e n tia lly the same as
these mentioned In connection with the fed eral Savings sad Doan
Insurance Corporation.
th e Treasury Department has never In terfered w ith the
se ttin g up e f accounting procedures hy the Comptroller General,
but, on the contrary, has frequently attempted to reco n cile the
d ifferen ces between the General Accounting O ffice end adatnis*
7
3*
4.
It is the policy ef the Treaeaty not to be
come a party to procedure* which ere not
authorised h r lew, oree though prescribed
h r the Comptroller General. The Treasury
Department doe* net interpret the Budget
aad Accounting Act es relierlag it ef its
own responsibilities to eee that the lews
ef the Halted Stetes la which it le eeac
cerned are cosalied with.
Upon reçus»! of the Corporation, the Treasury
attempted to reoeaelle the opposing rises of
the Corporation and the General Accounting
Office,
la feet, the treasury proposed a
procedure which wee substantially the sane
as the regular established procedure, the
only difference being as fellows s Instead ef
using a f o r m i requisition prescribed by the
Comptroller General and a formal Treasury
barrant, the procedure involved provided for
the writing of a letter te the Secretary ef
the Treasury by t h e Corporation, requesting
the transfer of money fro« the Corporation’s
general account to a disbursing account. It
is important to noto, however, that provision
was nado for the approval ef such request» by
the Comptroller General before the money one
to b e and# available to the Corporation fot
disbar semant purposes. This procedure was
agreed te orally b y representatives of the
" General Aeeeuntiag Office and was followed
for see» time, until the C o n t r o l l e r Ceserai
himself, by a forasi letter, epee! the p r o
cedure; whereupon the Corporation determined
further attempts te eeoperate with the
General Accounting Of flee were not warranted*
In considering the eaee ef the Federal Savings and
loom
Insurance Corporation, and comparing it with a regular department
cr establishment of the Government, it must be borne in mind that
the Treasury Department has entirely different reepoaeibllitlee
in the two case«*
t a sow «r»t«« hat ffiálil In m Inarm** i&
Uhm «dalai str&tiw« mepmumm of the 8ow®rmseai
i*
(So* for laataaee» hearings before the House
Appropriation« Comitt«« m ® ¿
priâtlea Bill for t a fiooal pear 1938,1
9, |9io M M g of t a íreasnpp*« position lo
definitely «otablithed % t a mrmnpmñmon
between t a Secretary of the Treasury and ttm
Aetlag Comptroller Gemsrol» «opios of «Blob
oro attatad bototo*
^IMSdllSÜ
t a mmmë, »attor en whioh t a àeiiag ^ M i o r
Oe&eraX
allogo« that t a ■f r m m w bas failed to oooperate with th« Cenarsi
Accounting Offlo» in establishing a propor aceoxmting procedure
roXato« to tho bundling of ih £c of corporation«, particularly
tho oa«o of tho Federal Sawing* and lean l&wiraaee Corporation.
It 1« «aid that * t a taaourp Bepartant «till refuses to
taperai# with t a Ornarmi Aooouatln* Offio« 1st hawing «nah fond«
eowered iato th« frea«e*y.*
Soworal faot« stand ont In th® da»® of t a Federal
Sawing« and lorn tnmrrmm Corporation.
taee any ho osnaeratet
at foliowat
1, t a law aeitar require# nor author!*#s tho
covering of th« Corporation*s tad« Into
th® ir#a«e*y«
3. t a Corporation I« authorised to *dopoalt*
it« «oliar lot# th® Treasury* or, with tho
ipprowal of the Secretary of tha Treasury,
It may «wo» d«po»it It« ao»«y with a Federal
Keserve baste, Or# It
invest it« a m y
Is obligation* of th«. Halted Stato«# or Ia
obligation« of whioh tho principal and intor®at aro guaranteed hr tho Ohitod Stato«.«
$
2-m
fho ‘’obrio»*“ purpooo* of th# bow *y*toa woro
&ot àt isâlâftltd 0 A ps|» 2 of tòt Acting
Coiaptroller Goaoral1* r*port uador tho cap
tiamo (a), Cb), « i C#'l* (aboro), for tho
roasoB that oil of ouch purposo* woro boiag
oorrod under tho s U * y * % m of *y»bol* and
BGCOUBt lilitit
3.
fho dotoraiaatlea of litio* of appropriatioa
a&d receipt aecouats ho* been o prorogaiIro
of tho Soeretary of tho treasury fro» «I#
beginning of the W è m m m m i mé. ko* merer
boon questioned hr ft Comptroller. It io o
aoeeooary iacideat to tho drawiog of warranto,
for which tho Soor«tory of tho freasury I*
responsible cader tho low,
4.
fho classification of receipt* and ereoaditure*
of tho Goromaont 4 * of »oro concern to tho
freawary Pepartaent than it Is to tho Sonor«!
Aecouatlag Offieo. tho bow syoto» of *y*bol*
oomoiotod of approxiaately TOO page*, inrolring
12.000 ito»«» ood subsequent revisions prorod
that thoy ooro not «afficioatly rolloblo for
m*o by tho freasury Department. tho treasury1*
«©counts au*t ho m e arato*
5.
fho regulation* prescribing tho now *y»holo
ooro dated Jvmm 15 * 1936, only 16 days hoforo
tho hogiaaiag of tho now fioca! year to which
thoy woro to apply, fho regulation* woro
saoror officially transmitted hy tho Comp
troller Goaoral to tho Secretary of tho
treasury. fho Department wa* ahlo to
procuro a copy informally about dhao 22ad.
fils wa* aftor tho froaoary had proparod
all of It* lodgor shoot* aad warrant*
eorortag appropriation* for tho now
fiscal year.
6.
fho treasury had aot hooa previously consultod
a* to whother tho bow systo» would meet it*
noodo.
?, fho froaoary oadoarored to reooncilo it*
difforoBCo* with tho General Accounting
Offlco, with bo succoso.
» 4
*(«) A propwr ©la»«tfication ©f publia aoa«y®«
Irette rooolpts and appropriation»*
*(h) A poftitiv» identification tf r®e«lpt a©*
ocrants with their r®lat®d a?>pr©priatl®a
accotants.
*(«)
â saor# tàowtigfe aad ®p«®di®r #a®ly®l® «f
# 1# flaaaoial accotants é# ilà# Gowramaat.
*Oa th# nfeol® th® mur ss^gtm m à procedure, a®
modiflea 4® fit mxkvoml conditions* ha® pro*®a «alà«»
fnatory m â 1® a âeciâad isproveaeat o w th® # M
aystens. Vh® ®ha»g® fvom th» eld System. ®f Symbol»
and account
ti th® m m «ntailed sou»
addltlonal ®o*k « 1 «cp#i*#e ânriag là# flsoal y®er
1937» both la th® 0 M I Accotantin& Offl«® and I»
th» iidsilatstratiif® offices, bat th® restait»
and m m % h m offset 4b# difflooltl®» ®aoonat®r®&«
la effectin# sach change th# &®parlM*t® and ® » t a V
Xishmeats g®a«r®ny oooperated fttllyv Sa® TT®a»iay
fl«|mrtm®nt# howerer» r»fos®a to aâopt th® preoarlbeA
systbol® la connection t&th lt® record® m â ®» a resalt
m m # aâstial#tratlre offices ha#® h#ea ooapeiled to
show both th® old m k th® n m systbols on tm w o t
their accouailng document*. Kapeated efforts h#f®
falled to f â à d t f v m th® T r m m r p Bspartmmt «rgr
p ü â r®a®oas®tiy th® m m aymbol» é i H »ot h®
adoptod ther®, »y H ü É mték adoption mv!Xû net h®
altogothor la là® h®«t Interesta ef th® Ocrf®rxs®«at«
Si® situation thsu» diaclosed évidences th® type ot
difficulté® e»c»nafcer«d fey th® âeaaral Accounting
Office la lt® effort® to develep aad eatabllsh m
proper and adorante ay»to» #f acoaoata for th®
Oovornaaat. ttod«r «atiatiag Xsm lt sægr prescrlbe
bot ao power I® girea to eaforoe compliance with
presoribeà p m m t e m o * *
la d«fialt® i W
to th® forogoing «internent lt aay h®
®ald*
1*
Th® Q m p % m l l * r General «reeeded hi® aathority
im preacriblng th® no» ayatea ®f ®yid»ol® «ad
tltl«® for napaopris^loa aad rooolpt aooomt®
a® oarriod la th® offlcdal aoooaat® ot th®
ffeit«d Stat®« ?T«a®«iy*
s
Aetlng Couptrailer Cernerai to ehow laek of ©odperetion tjr thi
ïroasmry Doparlaent with hit offle«.
îhey al«« reveal» it eee©#
te ma« a »©et ««ritrae basi« fault in the whale conception of
tb«lr reeponeibillties which seeae fro® the «tort te ha«« pr«▼ented thè offleer« 1b charge of the Cenerai Acccranting Office
fre» rendering the publie «erri«« that the Congre*s expected of
the® whea it pæeed the Budget and Accounting A©t.
For that
reason, after áeallng with the spécifie erltiei«®« of the
freaeury lu the report of thè Aeting Controller Cenerai» I «diali
offer «eme observations ou thie deeper phase of thè metter*
The flret of the two im tm m n cited by thè Aeting Oeap*
trailer Cenerai relate« to thè fallure ef thè Treasury Departaeiit
te uee symbole and titlee preeorlhed by the Coaptroller Cenerai
for appropriation #»d reeeipt aoeouate»
The other relatee to
fallure of eortain oorporatloae to eomply with aecounting pro
cedures prescrlbed hgr the Coaptroller Cenerai»
grabóle .and....1.111«« for Appropriation.
and.tácelot Account«
The eri titlee of the Treasury relatlng te Ite fallare te
ms# symbole and titlee for appropriation and reeeipt accounts ap**
peer« on pac«® * and 3 of the Aeting Coaptroller Cenerai*e report,
and rendei
#* * * a new «y«te® of symbole and tltloe for
appropriation and roeeipt aceouate une proeerlbed
by Cenerai Bagniatiene Ho» 84, datod fumo 16,
1336» The obwloue parpo«#« «f Cernerai legala**
tiene lo» 84 are — *
m jp ■■«**
pmhlic fonda mié the íaalatenaaee i f asesante lü such fere ae te
p erait the e ff ic ie n t tr&nsaetion e f the puhlic haslases, mié W
preserve m aeearats reeeré e f aXX traneaetleas éter the iafom alioA
d i Goa&ress esté the peeyXe*
$fc* ite r e ia r y e f G» freasary 1«
eharged with * erare responaihlH ty f&r ifee ®#Xl##fÍp»#. safe**
leesplftg» mié preper át& W rm m ñI # f tht jmblie sto&eys, * respe*«!»
H U I f which i#
musí
éiseharee i s f a l l ee»plianse v ith the Xaws
enaeteé V the Congress*
Se mui not r eliev e him eelf of th is
resp o n sib ility Ijr oheéle&ee te the »efe é ir e e tle a o f any other
o ffie e r o f the tevermeemi,
S ea llslitc te the falX th is r ee p e n sih illty v ith vfeieh I
«¡a eharged hy le v , I ImIgeá* mi tee s ae the repert t f the A e tlsf
Coaptreller Oeaerid m e
te *y nottee* a carefal rerlew e f
the rela tiv a « hetveen the freamury Depertaent mié the O ffiee e f Ü»
C saptreller Oeaeral, with the p artievlar ferpese e f é e te r e ia ia f
etiether tfcsre m e Jmstle* im the « m ie le ® vhieh the Acting
O eaptreller Oe&eral hee made e f the ©epsrtaeat*
I t l e ay h e lle f,
a fter a se e t ©arefal exaai&ailom* ttuet the criU ciem e f the
Aetlng Coaptreller OeaeféX i e el tfemat e e r it and thet I t l e
eerely me ineid eat la a eentiaetng e ffe r t e f the Oeacrel Acceant-*
ing O ffiee te ásmese Amtlee aot eatrasteé te I t hy Xa», «aé te
aesert aatherity aeltfcer expressly ¿raateé hy lew, « ef preperly
Aeduelhle hy le p lie a tio a ffe a the lew.
fh ie e ff e r t e f t i» O ffiee e f the O osptreller fe a sr e l i*
v e ll illu etra ta d , 1 thiafc, hy the twe instañese e lte é hy Wm
My dear Mr. Chairmans
The Annual Deport to the Congress of the Acting Comp
troller General of the United State« for the fiscal fear 1 9 3 ^
contain« statement« seriously reflecting on the conduct by the
United State« Treasury Department of the public business with
which it is charged by law* involving the care of the public
fund« entrusted to it*
It Is my belief that charges of this character having
be«« brought formally to the attention of the Congress it 1« my
duty* as responsible head of the Department which has been criti
cised* to reply to them* and 1 am therefore addressing myself to
yon as Chairman of a Committee of the Congress «fetch will have
before it for consideration matters touched upon by the Acting
Comptroller General*s report.
The specific criticism directed at the treasury Depart
ment by the Acting Comptroller General is that the treasury De
partment has failed to cooperate with the General Accounting
O ffice in providing a proper accounting system for the Govern
ment» and two instances are cited by the Acting Comptroller
General to sustain this criticism.
Obviously* nothing can be more vital to the orderly
transaction of public affairs than the safekeeping of the
<—v\
/ó
tocay
igretary Uor genthaii
the following letter to Representative
John j. Oôèhmn as1 Ghainaan of. the Committee on .Expenditures in. the Executive
of the House of representatives,
Denartraents and 'as Chairman of the jgBSwr Committee on Government-Organisation.
to Senator J. Hamilton Lewis as -Chairman of the Committee on Expenditures
in the Executive' ‘Departments aosà of thé'Senate arid to Senator James F.
Select
as Chairman of theyyComm.ittee on Government Organization of: the Senate:
Tries
TREASURY DEPARTMENT
Washington
POE IMMEDIATE RELEASE,
Tuesday, January 11, 1938
Press Service
Ho. 12-10
Secretary Morgenthau today sent the following letter to
Representative John J. Cochran as Chairnan of the Committee on
Expenditures in the Executive Departments and as Chairman of the
Committee on Government Organisation of the House of Representa
tives, to Senator J. Hamilton Lewis as Chairman of the Committee
on Expenditures in the Executive Departments of the Senate and to
Senator James F. Byrnes as Chairman of the Select Committee on
Government Organization of the Senate:
My dear Mr. Chairman:
The Annual Report to the Congress of the Acting Comp
troller General of the United States for the fiscal year 1937
contains statements seriously reflecting on the conduct hy the
United States Treasury Department of the public business with
which it is charged by law, involving the care of the public
funds entrusted to it.
It is my belief that charges of this character having
been brought formally to the attention of the Congress it is my
duty, as responsible head of the Department which has been criti
cized, to reply to them, and I am therefore addressing myself to
you as Chairman of a Committee of the Congress which will have
before it for consideration matters touched upon by the Acting
Comptroller General's report.
The specific criticism directed at the Treasury Depart
ment by the Acting Comptroller General, is that the Treasury De
partment has failed to cooperate with the General Accounting
Office in providing a proper accounting system for the Govern
ment, and two instances are cited by the Acting Comptroller
General to sustain this criticism.
Obviously, nothing can be more vital to the orderly
transaction of public affairs than the safekeeping of the
public funds and the maintenance of accounts in such form as to
permit the efficient transaction of the public business, and to
preserve an accurate record of all transactions for the information
of Congress and the people.
The Secretary of the Treasury is
charged with a grave responsibility for the collection, safe
keeping, and proper disbursement of the public moneys, a responsi
bility which he must discharge in full compliance with the laws
enacted by the Congress.
He can not relieve himself of this
responsibility by- obedience to the. mere direction, of any other
officer of the Government.
Realizing to the full this responsibility with which I
am charged by law, I began, as soon as the report of the Acting
Comptroller General was brought to my notice, a careful review of
the relations between the Treasury Department and the Office of the
Comptroller General, with the particular purpose of determining
whether there was justice in the criticism which the Acting
Comptroller General has made of the Department.
It is my belief,
after a most careful examination, that the criticism of the
Acting Comptroller General is without merit and that it is
me rely an incident in a continuing effort of the'General Account
ing Office to assume duties not entrusted to it by law, and to
assert authority neither expressly granted by law, nor properly
deducible by impliccation from the law.
This effort of the Office of the Comptroller General is
well illustrated, I think, by the two instances cited by the
3
Acting’ Comptroller General to show lack o’f cooperation "by the
Treasury Department with his office.
They also reveal, it seems
to me, a most serious basic fault in the «hole conception of
their responsibilities which seems from the start to have pre
vented the officers in charge of the General Accounting Office
from rendering the public service that the Congress expected of
them when it pa.ssed the Budget and Accounting Act.
For that
reason, after dealing with the specific criticisms of the
Treasury in the report of the Acting Comptroller General, I shall
offer some observations on this deeper phase of the matter.
The first of the t«o instances cited by the Acting Comp
troller General relates to the failure of the Treasury Department
to use symbols and titles prescribed by the Comptroller General
for appropriation and receipt accounts.
The other relates to
failure of certain corporations to comply with accounting? pro
cedures prescribed by the Comptroller General.
Symbols and Titles for Appropriation
and Be point Accounts
The criticism of the Treasury relating to its failure to
use symbols and titles for appropriation and receipt accounts ap
pears on pages 2 and 3 of the Acting Comptroller General‘s report,
and reads:
"* * * a new system of symbols and titles for
appropriation and receipt accounts was prescribed
by General Regulations Do. 84, dated June 15,
1936. The obvious purposes of General Regula
tions No. 84 are —
4
"(a)
A proper classification of public moneys,
both receipts and appropriations.
"(b)
A positive identification of receipt ac
counts with their related appropriation
accounts*
"(c)
A more thorough and speedier analysis of
the financial accounts of the Government.
"On the whole the new system and procedure, as
modified to fit unusual conditions, has proven satis
factory and is r decided improvement over the old
systems. The.change from the old system of symbols
and. account designations to the new entailed some
additional work and expense during the fiscal year
1937, both in the General Accounting Office and in
the administrative offices, but the results justify
and more than offset the difficulties encountered.
In effecting such change the departments and estab
lishments generally cooperated fully. The Treasury
Department, however, refused to adopt the prescribed
symbols in connection with its records and as a result
many administrative offices have been compelled to
show both the old and. the new symbols on many of
their accounting documents. Repeated efforts have
failed to elicit from the Treasury Department any
real reasons why the new symbols should,not be
adopted, there, or that such adoption would not be
altogether in the best interests of the- Government.
The situation thus disclosed evidences the type of
difficulties encountered, by the General Accounting
Of fi ce in its efforts to develop and establish a
proper and. adequate systent of accounts for the
Government. Under existing law it may prescribe
but no power is given to enforce compliance with
prescribed procedures."
In definite answer to the foregoing statement it may be
1.
The Comptroller General exceeded his authority
in prescribing the new system of symbols and
titles for appropriation and receipt accounts
as carried in the official accounts of the
United. States Treasury.
- 5 2.
The "obvious" purposes of the new system were
not as indicated on page 2 of the Acting
Comptroller General's report under the cap
tions (a), (b), and (c), (above), for the
reason that all of such purposes ^ere being
served under the old system of symbols and
account titles.
3.
The determination of titles of appropriation
and receipt accounts has been a prerogative
of the Secretary of the Treasury from the
beginning of the Government and has never
been questioned by a Comptroller.
It is a
necessary incident to the drawing of warrants,
for which the Secretary of the Treasury is
responsible under the lav.
4.
The classification of receipts and expenditures
of the Government is of more concern to the
Treasury Department than it is to the -General
Accounting Office• The new system of symbols
consisted of approximately 700 pages, involving
12,OCO items, and subsequent revisions proved
that they were not sufficiently reliable for
use by the Treasury Department. The Treasury1s
accounts must be accurate.
5.
The regulations prescribing the new symbols
were dated June 15, 1936, only 16 days before
the beginning of the new fiscal year to which
. they were to apply. The regulations were
never officially transmitted by the Comp
troller GeneraJL to the Secretary of the
Treasury. The Department was able to
procure a copy informally about June 22nd.
This was after the Treasury had prepared
all of its ledger sheets and warrants
covering appropriations for thf new
fiscal year.
6.
The Treasury had not been previously consulted
as to whether the new system would meet its
needs.
7.
The Treasury endeavored to reconcile its
differences with the General Accounting
Office, with no success.
-
8,
9.
6
-
The new system has resulted in an increase in
the administrative expenses of the Government,
(See for instance, hearings before the House
Appropriations Committee on the Navy Appro
priation Bill for the fiscal year 19380)
The soundness of the Treasury’s position is
■ definitely established by the correspondence
between the Secretary of the Treasury and the
Acting Comptroller General, copies of which
are attached hereto«)
Corporations
The second matter on which the Acting Comptroller General
alleges that the Treasury has failed to cooperate with the General
Accounting Office in establishing a proper accounting procedure
relates to the handling of funds of corporations, particularly
the case of the Federal Savings and Loan Insurance Corporation*
It is said that 11the Treasury Department still refuses to
cooperate with the General Accounting Office in having such funds
covered into the Treasury.11
Several facts stand out in the case of the Federal
Savings and Loan Insurance Corporation*
These may be enumerated
as follows:
1*
The law neither requires nor authorizes the
covering of the Corporation’s funds into
the Treasury,
2.
The Corporation is authorized to ’’deposit1’
its money into the Treasury; or, with the
approval of the Secretary of the Treasury,
it may even deposit its money with a Federal
Reserve bank. Or, it may invest its money
in obligations of the United States, or in
obligations of which the principal and in
terest are guaranteed by the United States,
- 7 -
3«
4#
It is the policy of the Treasury not to be
come a party to procedures which are not
authorized by law, even though prescribed
by the Comptroller General* The Treasury
Department does not interpret the Budget
and Accounting Act as relieving it of its
own responsibilities to see'that the laws
-of the United States in which it is con
cerned are complied with*
Upon request of the Corporation, the Treasury
attempted to reconcile the opposing views of
the Corporation and the General Accounting
Office* In fact, the Treasury proposed a
procedure which was substantially the same
as the regular established procedure, the
only difference being as follows?
Instead of
using a formal requisition prescribed by the
Comptroller General and a formal Treasury
warrant, the procedure involved provided for
the writing of a letter to the Secretary of
the Treasury by the Corporation, requesting
the transfer of money from the Corporation* s
general account to a disbursing account* It
is important to note, however, that provision
was made for the approval of such requests by
the Comptroller General before the money was
to be made available to the Corporation for
disbursement purposes* This procedure was
agreed to orally by representatives of the
General Accounting Office and was followed
for some time, until the Comptroller General
himself, by a formal letter, upset the pro
cedure; whereupon the Corporation determined
further attempts to cooperate with the
General Accounting Office were not warranted*
In considering the case of the Federal Savings and Loan
Insurance Corporation, and comparing it with a regular department
or establishment of the Government, it must be borne in mind that
the Treasury Department has entirely different responsibilities
in the two cases#
As to the Federal Savings and Loan Insurance Corporation
the Treasury*s responsibility was only that of a depositary.
The
capital of this Corporation was provided through the subscription
of $100,000,000 of its capital stock by the Home Owners* Loan
Corporation, which stock was paid for in the form of HOLC bonds.
Congress did not even make an appropriation from the Treasury in
this case as is usually done in creating corporations.
The
Treasury Department did not have the responsibility of issuing
a warrant authorizing the Corporation to spend its money, as is
done in the case of a regular department or establishment of the
Government.
The Treasury Department acted only as the Corporation
bank.
On page 21 of the Acting Comptroller General*s report it
is stated that the Electric Home and Farm Authority 11is another
instance where the action of the Treasury Department undertakes
to counsel and direct the setting up of accounting procedures",
and on page 27 a similar reference is made to the Treasury Depart
ment concerning the Home Owners* Loan Corporation,
The facts in these cases are essentially the same as
those mentioned in connection with the Federal Savings and Loan
Insurance Corporation,
The Treasury Department has never interfered with the
setting up of accounting procedures by the Comptroller General,
but, on the contrary, has frequently attempted to reconcile the
differences between the General Accounting Office and adminis-
- 9 -
trative agencies in order to promote the general public interest
wherever the Treasury Department was in any way involved*
In
the instant cases the Treasury Department is responsible for
handling the corporations* funds* and has felt a duty to seek
solutions to the problems submitted to it by administrative
agencies in connection with its daily operations*
The reconcilia
tion of these differences is not a task coveted by the Treasury De
partment* and the work of the Treasury would be greatly lightened
if the General Accounting Office should attempt seriously to under
stand the operating problems of administrative agencies, and should
cooperate in devising accounting practices to meet the require
ments of good administration*
Both of the instances above are revealing in their
reflection of the general attitude of the Office of the Comp
troller General toward its responsibilities*
They illustrate
not only the effort of that office to extend the sphere of its
responsibility in disregard of the law, but the arbitrary and
peremptory method that it adopts to accomplish this object*
The
first of the two cases is more important, however, since it shows
very clearly the spirit of the approach of the General Accounting
Office toward one of the most important of the responsibilities
with which it is charged by law*
That responsibility is stated in Section 309 of the
Budget and Accounting Act as follows;
"The Comptroller General
shall prescribe the forms, systems, and procedure for adminis-
10
-
trative appropriation and fund accounting in the several depart
ments and establishments, and for the administrative examination
of fiscal officers* accounts and claims against the United States#11
It was on this authority that the Comptroller General
relied in attempting to force on the Treasury Department, without
consultation or adequate notice, an entirely new and complicated
set of symbols for the central receipt and appropriation accounts
in the Treasury, symbols that were proved by subsequent revisions
and corrections to be ill suited tov meeting Treasury requirements#
Commenting on the refusal of the Treasury to adopt these symbols in
stantly, a course which inevitably would have caused great confusion
in the public .accounts and needless expense to the Government, the
Acting Comptroller General comments:
,fUnder existing law it (the General Ac
counting Office) may prescribe but no power
is given to enforce compliance with prescribed
procedures#11
Later he adds:
f,Much more rapid progress would be assured if
the law imposing this tremendously important
responsibility carried also the means for
compelling observance.11
Elsewhere in his report (Page 4) he gives his idea of the
purpose which this authority to prescribe forms should serve in
the hands of the Comptroller General#
There the primary need of
adequate records for administrative purposes, to fulfill the
functions for which the Government exists, is recognized but
* u >
briefly*
The Acting Comptroller General* s interest is centered
in providing papers for audit.
He says:
"In such circumstances the General Ac
counting Office becomes peculiarly related to
the entire fiscal machinery of the Government
and through the utilization of the fiscal data
necessarily concentrated in the General Ac
counting Office for the purposes of the audit
it constitutes the center into which the ac
counting records of the Government should and
are now being properly coordinated."
It should not require argument to convince any reasonably
intelligent person that the main purpose of Government or the main
purpose of keeping Government accounts is not to provide materials
for an audit.
The main purpose is to provide the working equip
ment for carrying out the Government*s functions.
It is an ad
ministrative purpose; auditing is an incident, and a system which
adequately serves administrative needs must necessarily furnish
adequate information for complete audit.
But to subordinate the
working needs of the Government to the purpose of providing an
abundance of documents for auditing purposes would inevitably
be fatal to administrative efficiency.
The Congress has not given the General Accounting Office
any authority to do this.
The failure of the Congress to give the
Comptroller General authority to force upon the executive depart
ments any accounting system he may devise can not be regarded as
an accident or an oversight, since it corresponds to a common-sense
view of the problem.
Surely no private corporation would force on
-
12
its administrative staff an accounting system devised "by a firm
of auditors without giving its own accountants and executives a
thorough opportunity to pass upon its worthiness and suitability;
and. no firm of accountants worthy of confidence would undertake
to recommend such a system without full consultation with staff
accountants and executives as to the working requirements of the
business and.a most thorough effort to satisfy them on every step
contemplated.
What the Congress did in fact impose upon the Comptroller
General was a duty to consult and. cooperate with the officers of
the executive departments in devising and putting into effect a
thoroughly adequate system of departmental records.
That commission
by its very nature could not have been accomplished without the
most thorough cooperation, diligent effort to understand the problems
with which operating executives are faced and a spirit of mutual
respect and patient endeavor to rea,ch a meeting of minds.
The Treasury Department has always stood ready to give
effect to the law in its full letter and spirit and to accomplish
the sort of cooperation which the law contemplated.
But it has
not been met by a similar spirit on the part of the Comptroller
General.
It has not enjoyed the cooperation from the Comptroller
Generalrs office which it had a right to expect, in view of the
express terms of the law.
The Comptroller Generali actions have
- 13 -
not "been cooperative; they have instead been peremptory, arbi
trary, and capricious«
I shall be glad to supply to your Committee, if you
should desire it, abundant evidence in support of this statement.
The Comptroller Cenerai appears to have taken too literally
the press references to his position as that of ,fwatchdog of the
Treasury", and in seeking to realize that figurative description
to have conceived his function to be that of snapping at the heels
of the administrative officers of the Government, and undertaking
to hamper them in the faithful performance of their duties, rather
than cooperating with them to render more efficient service.
How
ever appropriate that attitude may be to the work of the Comptroller
General in his function as an auditor, it can not be applied to
those functions —
such as that of prescribing forms of records —
which are supplemental to the work of the administrative branch of
the Government, without causing injury to the public service.
To interfere with the proper exercise of administrative
authority is to interfere with, and to divide, administrative
responsibility.
General’s effort.
That has been the direction of the Comptroller
Not satisfied with what he has accomplished by
a process of determined infiltration and assertion of unauthorized
authority, he is now seeking from the Congress a most amazing
grant of power.
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To combat that request is one of the chief purposes of
this communication.
I do not combat it out of any jealous desire
to safeguard the lawfully granted authority of the Treasury De
partment, but rather because of a sincere belief that to grant
the Comptroller General the authority he seeks would be abso
lutely fatal to good administration and would introduce untold
possibilities of confusion and betrayal of the public trust.
The Comptroller General’s request for this new authority
is contained on page 12 of his report.
He proposes an amendment
to Section 309 of the Budget and Accounting Act (cited above) to •
read as follows:
’’Provided, that appropriated or other moneys,
available to any department or establishment as
indicated in Section 2, shall not be advanced for
expenditure or be expended whenever there is sub
stantial failure to install and maintain systems
of accounting and procedures relating to the re
ceipt, deposit, application or expenditure of
public, quasi-public, trust or corporate funds,
prescribed pursuant to this section.”
The effect of the enactment of this proposal would indeed
be to make a very czar of the Comptroller General.
It would give
him authority to interfere with and to nullify almost any act of
an administrative officer of the Government, to hamper by delay and
to blockade by inaction or caprice the exercise of the most es
sential governmental functions.
It would in effect make him the
most powerful administrative officer of the Government, but without
any responsibility to the Chief Executive elected by the people and with
- 15 -
only such supervision of his acts as the Congress might he able to
supply through occasional investigation*
Such a mingling of huge executive responsibility with the
function of audit could not do otherwise than to prejudice the
integrity of the Comptroller G-eneral1s audits, besides introducing
hopeless confusion into governmental affairs.
The inability of the Acting Comptroller General to
visualize the implications of his proposa,! is, I think, a more .
serious reflection on his capacity to undertake such a responsi
bility than any criticism of him which anyone else might voice.
It is extremely important that a good and effective system
of audit of Government accounts be maintained, and not the least
of the dangers in this proposal of the Acting Comptroller General
is its menace to the integrity of the auditing process.
It would
be menaced not only by confusion of responsibility but by the
probability that so stringent a control over expenditures would
result in the exemption by Congress of many specific appropriations
from all supervision by the General Accounting Office.
Very truly yours,
HENRY MORGEN'THAU, JR,
Secretary of the Treasury.
Enclosures
*
16
TREASURY DEPARTMENT
Office of the Secretary
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Washington, D, C,
July 11, 1936,
Dear Judge Elliott:
This has reference to the conference between you and. the Com
missioner of Accounts and Deposits of this Department, relative to
General Regulations No, 84, issued "by the General Accounting Office
under date of June 15, 1936,
These regulations, I understand, provide for a new system of
symbolizing the various revenue and appropriation accounts of the
Government, The digest of symbols issued as a part of the regulations
is a manual consisting of 388 mimeographed sheets, the greater part
of which are printed on both sides of the sheet, so that the manual
covers approximately 700 pages. The manual of symbols was not de
livered to the Secretary of the Treasury, as is customary, until
after the beginning of the new fiscal year; nor was the office of
the Secretary of the Treasury consulted or made acquainted with the
contents of the manual prior to its receipt*
Aside from certain implications which are of concern to the
Secretary of the Treasury with respect to the designation of account
symbols and titles to be carried on warrants issued by the Secretary
of the Treasury pursuant to law, and carried in the public accounts
maintained upon the books of the Treasury, failure to furnish this
Department with a copy of the manual of symbols, or to acquaint the
Treasury with its contents sufficiently in advance to pemit of the
planning of its work, presents certain,practical difficulties to the
Department which it did not anticipate,
I am sure that you will agree that the Treasury Department
and General Accounting Office have a mutuality of interest in matters
of this kind which extend beyond, the interest which other depart
ments of the Government may have. While the Treasury Department,
as all other departments, lias its administrative accounting problems
in each of its several administrative bureaus and offices, the Secre
tary of the Treasury has, in addition thereto, an entirely separate
and distinct responsibility with respect to the issuance of warrants
on the Treasury and the maintenance of the fiublic accounts relating
to all departments and establishments of the Government,
Presumably, General Regulations No, 84 were issued pursuant
to Soction 309 of the Budget and Accounting Act, Although I do not
question the motives which actuated the issuance of Regulation No,
84, these regulations and the oral statements made with reference there
to imply that hereafter the General Accounting Office proposes to per
form a function heretofore performed by the Treasury Department, While
the statements made by representatives of the General Accounting Of
fice emphasize the need for symbols to be used for audit purposes, the
- 17
manner in which the regulations were issued, when considered in the
light of other circumstances, is such as to warrant the assumption that
hereafter the General Accounting Office, rather than the Secretary of
the Treasury, proposes to determine the character of the information
to he carried in Treasury warrants and in its official accounts. If
this assumption is correct, then I must take the position that the
General Accounting Office has assumed authority which, in my opinion,
has not been vested in it hy law, and in which the Treasury will not
concur.
It should also he stated that the Treasury Department does not
question the advisability of devising a system of symbolization of
accounts, to he released in convenient form and made available as
a handbook for the use of Government officers and employees. The Do-*
partnent does, however, question the manner in which such purposes
-are proposed to be accomplished, especially when it involves a
prerogative of this Department of fundamental importance, and which
eventually may lead to difficulties in the handling of the routine
work which has been imposed upon this Department by law. In this
connection I am not unmindful of Section 309 of the Budget and Ac
counting Act, or the fact that this matter may be looked upon from
a slightly different angle by the accounting officers in the General
Accounting Office, nevertheless, I feel that the objective sought
can be better accomplished and the interest of the Government would
best be served if there should be a better understanding between the
Treasury Department and the General Accounting Office concerning their
respective functions under the law and in which they have a related
interest.
I therefore wish to make this suggestion with respect to General
Regulations Ho. 84, namely, that the system of symbolizing revenue and
appropriation accounts contained therein be deferred until October 1,
1936, during which time the Treasury Department and the General Ac
counting Office may take joint action with respect thereto. Having
in mind that the changing of appropriation symbols to numbers consist
ing of more digits than those in the present symbols may involve some
serious difficulties in other branches of the Federal service which
use mechanical equipment, and may in other respects increase the ad
ministrative expenses of the Government because of the work already
done which would have to be changed, it^would seem desirable that the
departments of the Government generally be given an opportunity to
participate in a friendly discussion of the new procedure.
Very truly yours,
(Signed) H. Morgenthau, Jr.
Hon. R. H, Elliott,
Acting Comptroller General
of the United(States,
Washington, D. C.
Secretary of the Treasury
18
C
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COMPTROLLER GENERAL OP THE UNITED STATES
WASHINGTON
A-5 1 607
July 20, 1936,
Honorable Henry Morgenthau, Jr,,
Secretary of the Treasury,
Dear Mr, Morgenthau:
There has been received and very carefully considered your letter
of July 11, 1936, as follows:
»This has reference to the conference between you and
the Commissioner of Accounts and Deposits of this Depart
ment, relative to General Regulations No, 84, issued by
the General Accounting Office under date of June 15, 1936,
»These regulations, I understand, provide for a new
system of symbolizing the various revenue and appropriation
accounts of the Government, The digest of symbols issued
as a part of the regulations is a manual consisting of 388
mimeographed sheets, the greater part of which are printed
on both sides of the sheet, so that the manual covers ap
proximately 700 pages. The manual of symbols was not
delivered to the Secretary of the Treasury, as is customary,
until after the beginning of the new fiscal year; nor was
the office of the Secretary of the Treasury consulted or
made acquainted with the contents of the manual prior to
its receipt,
»Aside from certain implications which are of concern
to the Secretary of the Treasury with respect to the desig
nation of account symbols and titles to be carried on war
rants issued by the Secretary of the Treasury pursuant to
law, and carried in the public accounts maintained upon
the books of the Treasury, failure to furnish this Depart
ment with a copy of the manual of symbols, or to acquaint
the Treasury v/ith its contents sufficiently in advance
to permit of the planning of its work, presents certain
practical difficulties to the Department which it did not
anticipate.
19
I am sure that you will agree that the Treasury De
partment and General Accounting Office have a mutuality
of interest in matters of this kind which extend "beyond
the interest which other departments of the Government
may have. While the Treasury Department, as all other de
partments, has its administrative accounting problems in
each of its several administrative "bureaus and offices, the
Secretary of the Treasury has, in addition thereto, an emtireljr separate and distinct responsibility with respect
to the issuance of warrants on the Treasury and the main
tenance of the public accounts relating to all depart
ments and establishments of the Government.
” Presumably, General Regulations-No. 84 were issued
pursuant to Section 309 of the Budget and Accounting Act.
Although I do not question the motives which actuated the
issuance of Regulations No. 84, these regulations and the
oral statements made with reference thereto imply that
hereafter the General Accounting Office proposes to perform
a function heretofore performed by the Treasury Department.
While the statements made by representatives of the General
Accounting Office emphasize the need for symbols to be used
for audit purposes, the manner in which the regulations were
issued, when considered in the light of other circumstances,
is such as to warrant the assumption that hereafter the General
Accounting Office, rather than the Secretary of the Treasury,
purposes to determine the character of the information to be
carried in Treasury warrants and in its official accounts.
If this assumption is correct, then I must take the position
that the General Accounting Office has assumed authority
which, in my opinion, has not been vested in it by law, and
in which the Treasury will not concur.
u It should also be stated that the Treasury Department
does not question the advisability of devising a system of
symbolization of accounts, to be released in convenient
form and made available as a handbook for the use of Govern
ment officers and employees. The Department does, however,
question the manner in which such purposes are proposed to
be accomplished, especially when it involves a prerogative
of this Department of fundamental importance, and which
eventually may lead to difficulties in the handling of the
routine work which has been imposed upon this Department
oy law. In this connection I am not unmindful of Section
309 of the Budget and Accounting Act, or the fact that
this matter may be looked upon from a slightly different
-
20
angle "by the accounting officers in the General Accounting
Office, Nevertheless, I feel that the objective sought can
he better accomplished and the interest of the Government
would best be served if there should be a better understand
ing between the Treasury Department and the General Account
ing Office concerning their respective functipns under the
law and in which they have a related interest,
” 1 therefore wish to make this suggestion with respect
to General Regulations No. 84, namely, that the system of
symbolizing-revenue and appropriation accounts contained
therein be deferred until October 1, 1986. during which
time the Treasury Department and the General Accounting Of
fice may take joint action with respect thereto. Having
in mind that the changing of appropriation symbols to
numbers consisting of more digits than those in the present
symbols may involve some serious difficulties in other
branches of the Federal service which use mechanical equip
ment, and may in other respects increase the administrative
expenses of the Government because of the work already done
which would have to be changed, it would seem desirable
that the departments of the Government generally be given
an opportunity to participate in a friendly discussion of
the new procedure,”
It is regrettable that there was not more time between the date
of distribution of the regulations in question and the date on which
they were made effective.
Likewise, it is regrettable - because of
the joint action required on warrants and the advantage of having
the records of your department and of this office show the same ac
count symbols, etc, — that there was not consultation with your de
partment before the regulations were issued.
I feel that in all
such matters there should be cordial cooperation between this office
and your department.
21
I
wish to assure you there is no intent or purpose on the part
of this office to assume or to interfere with any of the powers,
functions, or responsibilities which the law vests in or imposes
upon the Treasury Department with respect to the preparation of war
rants or the maintenance of fiscal records, etc,
I assume it would not seriously he questioned that the primary
purpose of receipt and appropriation symbols is accounting.
The
use of such symbols on the warrants and the accounts set up on the
basis of the warrants in no way affects the character or validity
of either and would serve no good purpose other than in connection
with the administrative and fiscal accounting and audit procedures
which follow the issuance of the warrants and the setting up of the
accounts.
Hence, there would appear to be no room for reasonable
doubt that the prescribing of the symbols is a proper function of
this office - a function which has been exercised by this office for
many years.
See, particularly, General Regulations Ho. 44 of June
1, 1925, and Ho. 67 of June 27, 1928,
General Regulations Ho. 84,
here in question, is primarily a revision of former regulations
and prescribes only such requirements as have been deemed necessary
for accounting and audit purposes.
The sole purpose of this revision
of the regulations is to improve accounting and audit procedures.
It is appreciated that the work incident to changing all of the
symbols on the records of your department is such that it could not
te conveniently accomplished for sometime after June 30, 1936, but
22
it is believed the benefits which will result from the change will
more than compensate your department for such work and the time neces
sary for its accomplishment,
1 am advised that the revised symbols
have been adopted and pat in use by all other departments and es
tablishments of the Government and I hope you will find it possible to
have your department make the necessary changes as soon as may be,
without interruption of the present operation under the new series of
symbols, with the assurance on the part of this office that should
it be found that any provisions of the said regulations or any of the
symbols prescribed therein are not workable in your department, any
changes which you nay suggest will be given most careful and sympa
thetic consideration.
If, however, upon further consideration of
the matter, you feel that the effect of the regulations upon your
department will be such that the interests of the Government can
best be served by suspending the operation of the regulations until
October 1, 1936, and you will so advise me, that can be done, but
I sincerely hope such action will not be necessary.
Cordially yours,
( Signed)
E, N, Elliott
Acting Comptroller General
of the United States
Xi
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Office of the Secretary
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TREASURY DEPARTLEHT
Washington, D. C.
Angus t 10, 1936,
Dear Judge Elliott:
In the absence of Secretary Morgenthau, who at present is
out of the city, I wish to acknowledge the receipt of your letter
of July 20, 1936, A-51607, in reply to the Secretary*s letter of
July 11, regarding General Regulations Ho, 84, relating to the symbol
ization of receipt and appropriation accounts,
I conferred with the Secretary over long-distance telephone
concerning the subject matter of his letter of July 11th, and he has
directed that the Treasury make no commitments with respect to the
use of the new symbols referred to in Regulations Ho. 84, in so far
as the Treasury warrants and disbursing accounts are concerned, until
a more definite understanding is reached as to the working arrange
ment which is to exist in the future between the Treasury Department
and the General Accounting Office as it relates to the issuance of
warrants on the Treasury for which the Secretary of the Treasury,
under the law, is primarily responsible. Until such understanding
is reached, it is believed that the effective date of General Regu
lations Ho, 84 should be postponed.
While the Secretary appreciates the statements contained
in your letter concerning the desirability of closer cooperation, a
careful reading of the letter fails to disclose a proper recognition
of the Treasury*s authority and responsibility under the law. It
would also appear that there is not a proper comprehension of the
Treasury Department*s need or concern with respect to the use of ac
count symbols in its daily routine.
Your letter assumes, for instance, that the use of symbols
on warrants and accounts is of concern principally in connection with
the administrative and fiscal accounting and audit procedure and,
therefore, it is concluded that the prescribing of symbols is a proper
function of the General Accounting Office. It is not clear whether
your reference to fiscal accounting was intended to differentiate
between fiscal accounting in the Treasury Department and the ad
ministrative accounting ;in the several departments, but,
any event,
the Treasury Department does not concur in the conclusion.
The Treasury Department considers the' classification and
symbolization of accounts as a matter principally of its concern,
and any system of account symbolization which is designed for the
purpose of classification must serve the requirements of the Treasury
Department equally as well as the auditing needs of the General Ac
counting Office. It is not apparent how the General Accounting Office
can become sufficiently acquainted with these requirements without con
sulting the Treasury Department,
- 24
It is essential that the Treasury*s accounts "be so arranged
as to make them susceptible of expeditions classification and analysis.
The principal need of the General Accounting Office, on the other hand,
would appear to he a means of ready identification of transactions with
the account to which they relate.
The Secretary lias asked me to say that he would appreciate it
if you would issue instructions that hereafter no changes he made in
the General Accounting Office on warrants signed hy or on hehalf of
the Secretary of the Treasury, and that all warrants which it is be
lieved have not been uwarranted bytlaw11 be returned with a letter
setting forth the reasons therefor.
The Secretary has asked me to say also that while he feels
that the responsibility imposed upon him by law with respect to the
issuance of warrants on the Treasury and the keeping of the public
accounts makes it necessary for him to take the position outlined
herein, he wishes- to assure you of the Department *s desire to fully
cooperate with the General Accounting Office to the end that a proper
accounting will be made to the General Accounting Office by all persons
who come into possession of moneys belonging to the United States.
Very truly yours,
(Signed) Wm. H, McReynolds
Administrative Assistant to the Secretary
Honorable Richard H, Elliott,
Actirg Comptroller General
of the United States,
Washington, D . C#
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COMPTROLLER GENERAL OP THE UNITED STATES
WASHINGTON
A-51607
April 24, 1937.
The Honorable,
The Secretary of the Treasury.
Sirs
The Chief Disbursing Officer, Treasury Department, in render
ing his accounts current to this office uses symbol numbers which
were in effect prior to the promulgation of General Regulations
No. 84 making it necessary for this office to translate.the symbols
shown by hhn to the new symbols prescribed in General Regulations
No. 84, thus retarding the progress of the audit and unnecessarilyincreasing the expenses of the Government.
I shall be pleased if you will take such action as will cause
the Chief Disbursing Officer to symbolize his accounts in accord
ance with General Regulations No. 8i , thereby facilitating the
economical flow of the work in which we are all interested.
Respectfully,
(Signed)
R, N. Elliott
Acting Comptroller General
of the United States.
.-.26
Office of the Secretary"
TREASURY DEPARTMENT
Washington, D. C.
0
®
Y
J-une 14, 1937.
My dear Judge Elliott:
I have your letter of April 24, 1937 (A-51607), requesting
that action he taken to cause the Chief Disbursing Officer to symbol
ize his accounts in accordance with General Regulations No, 84.
On July 11, 1936, X wrote to you concerning General Regu
lations No. 84, issued by the General Accounting Office under date of
June 15, 1936, for the purpose of prescribing a new system of symbol
izing the revenue and appropriation on counts of the Government. In
my letter I called to your attention certain objections which this
Department had concerning the manner in which those regulations were
issued.
Your reply of July 20, 1936, while acknowledging- the need
for close cooperation between the General Accounting Office and the
Treasury Department in matters dealing with the handling of appropri
ations, failed to suggest a reasonable basis on which a proper work
ing arrangement might be established.
On August 10, 1936, during my absence from the City, the
Administrative Assistant to the Secretary of the Treasury, at my
long:distance telephone direction, acknowledged your letter of July
20th. In the Department*s letter of August 10th, the Treasury en
deavored more fully to set forth its position in the matter, and
indicated its willingness to cooperate with the General Accounting
Office, with the understanding, of course, that due regard would be
given to the functions and duties which the Congress has vested in
the Secretary of the Treasury in matters involving the issuance of
warrants on the Treasury (U. S. Code, Title 5, Sec, 242, and Title
311 Sec, 147) and the keeping of the public accounts (U. S. Code,
Title 5, Sec. 255).
It seems to me that the difficulties which have arisen
as a result of the issuance of General Regulations No, 84 could
have been avoided if the General Accounting Office had given proper
recognition to the distinction between the duties and responsibili
ties vested by the Congress in the Treasury Department in matters
relating to the issuance of warrants and the keeping of the public
accounts, and those vested in the General Accounting Office with
respect to the countersigning of Treasury warrants, and prescribing
of administrative appropriation and fund accounting procedures in
the several departments and establishments, the audit and settlement
of public accounts, and the final determination of questions involv
ing the lawful uses of appropriations.
*- 27
It should be understood that this Department does not question
the authority of the General Accounting Office to prescribe Hthe forms»
systems» and procedures for administrative appropriation and fund ac**
counting in the several departments and establishments,n including
the 11administrative11 appropriation and fund accounting in its own ad
ministrative bureaus and offices* However, when the Congress vested
authority in the General Accounting Office to prescribe the adminis
trative appropriation and fund accounting procedures in the several
departments and establishments, it obviously intended that such pro
cedures would be in harmony with the basic accounting, structure of
the Government as provided by the Congress itself, and that the au
thority would not be exercised in a manner which would bring into
the General Accounting Office functions which the Congress intended
to be performed by other executive departments and agencies of the
Government. Therefore, when the General Accounting Office- assumes
authority to prescribe procedures which interfere with proper perform
ance of the duties vested by the Congress in the Secretary of the
Treasury, such as those involving the issuance of warrants on the
public Treasury and the keeping of the public accounts pursuant to
Section 10 of the Act of July 31, 1894 (U. S* Code, Title 5,,Sec.
255), this Department must take exception to such procedures.
The Treasury Department can not assume the responsibility
for the difficulties arising under General Regulations Ho. 84»
which apparently have not only retarded the progress of thetaudit trçxt
have unnecessarily increased the expenses of the Government. The
Treasury endeavored to avoid these difficulties in the beginning,
but was unsuccessful because it was unable to receive from the
General Accounting Office such assurances as are considered neces
sary to provide a harmonious working arrangement in accordance with
the principles expressed in the Departments previous letters. Such
regulations have not only increased the expense of this Department
but apparently have also,.added to the administrative expenses of
other departments (see, for example, House Subcommittee hearings *on
the appropriations for the Havy Department for the fiscal year 1938,
page 387).
With a view to eliminating the added expense in the Division
of Disbursement of the Treasury Department as a result of General
Regulations Ho, 84, unless a satisfactory arrangement can be reached,
this Department may be forced to the position of advising the de
partments and establishments that it will be necessary after July 1,
1937, to include in vouchers submitted to this Department for pay-*
ment the symbols and titles.of the appropriations as carried in the
official accounts of the United States Treasury Department and in
cluded in Treasury warrants. In this connection, I think it advisable
for me to advise you that I now have under consideration the setting
UP on the books of the Treasury as separate appropriations all ap
propriations which heretofore have been combined, for administrative
convenience, under single appropriation titles, effective July 1,
1937. Jf your office has any suggestions with respect to the matter,
X should be glad if you will advise me.
- 28 I regret that it is necessary for me to take the position
indicated in this letter, hut in view of the attitude that the General
Accounting Office has assumed concerning this matter, I see no alterna
tive, since I believe it is my responsibility to discharge the duties
imposed upon the Secretary of the Treasury by law.
The present practice of the Chief Disbursing Officer in render
ing accounts to the General Accounting Office in accordance with the
manner in which funds are advanced, to him on Treasury warrants, ap
pears to be in conformity with law. It will be necessary, therefore,
that further consideration be given to the request contained in your
letter, since it is doubtful whether any change can be made until the
difficulties between the Treasury and the General Accounting Office,
which were caused by the issuance of Regulations Ho, 84, can be worked
out.
Very truly yours,
(Signed) H, Morgenthau, Jr,
Secretary of the Treasury,
Honorable Richard H, Elliott,
Acting Comptroller General of the United States,
3
C
0
P
Y
- 29
COMPTROLLER GENERAL OP THE UNITED STATES
WASHINGTON
A*-51607
June 17, 1937
The Honorable,
The Secretary- of the Treasury.
Sir:
I have your letter of June 14, 1937, as follows:
” 1 have your letter of April 24, 1937 (A-51607), requesting
that action he taken to cause the Chief Disbursing Officer to symbol
ize his accounts in accordance with General Regulations No. 84.
"On July 11, 1936, I wrote to you concerning General Regula
tions No. 84, -issued by the Genera,! Accounting Office under date
of June 15, 1936, for the purpose of prescribing a new system of
symbolizing the revenue and appropriation accounts of the Govern
ment. In my letter I called to 3/our attention certain objections
which this Department had concerning the manner in which those
regulations were issued.
"Your reply of July 20, 1936, while acknowledging the need
for close cooperation between the General Accounting Office and
the Treasury Department in matters dealing with the handling of ap
propriations, failed to suggest a reasonable basis on which a proper
working arrangement might be established.
"On August 10, 1936, during my absence from the City, the Ad
ministrative Assistant to the Secretary of the Treasury, at my long
distance telephone direction, acknowledged your letter of July 20th.
In the Departments letter of August 10th, the Treasury endeavored
more fully to set forth its position in the matter, and indicated
its willingness to cooperate with the General Accounting Office,
with the understanding, of course, that due regard would be given
to the functions and duties, which the Congress has vested in the
Secretary of the Treasury in matters involving the issuance of
warrants on the Treasury (U. S. Code, Title 5, Sec. 242, and Title
31, Sec* 147) and the keeping of the public accounts (U. S. Code,
Title 5, Sec. 255).
A-5160 7
- 30
n It seems to me that the difficulties which have arisen as a re
sult of the issuance of General Regulations Ho. 84 could have "been
avoided if the General Accounting Office had given proper recognition
to the distinction between the duties and responsibilities vested by
the Congress in the Treasury Department in matters relating to the
issuance of warrants and the keeping of the public accounts, and
those vested in the General Accounting Office with respect to the
countersigning of Treasury warrants, the prescribing of administrative
appropriation and fund accounting procedures in the several depart
ments and establishments, the. audit and settlement of public accounts,
and the final determination of questions involving the lawful uses
of appropriâtions*
n It should be understood that this Department does not question
the authority of the General Accounting Office to prescribe 1 the
forms, systems, and procedures fpr administrative appropriation and
fund accounting in the several departments and establishments, 1 in
cluding the *administrative* appropriation and fund accounting in
its own administrative bureaus and offices. However, when the Congress
vested authority in the General Accounting Office to prescribe the
administrative appropriation and fund accounting procedures in the
several departments and establishments, it obviously intended that
such procedures would be in harmony with the basic accounting structure
of the Government as provided by the Congress itself, and that the au
thority would not be exercised in a manner which would bring into the
General Accounting Office functions which the Congress intended to be
performed by other executive departments and agencies of the Govern
ment, Therefore, when the General Accounting Office assumes au
thority to prescribe procedures which interfere with proper perform
ance of the duties vested by the Congress in the Secretary of the
Treasury, such as those involving the issuance of warrants on the
public Treasury and the keeping of the public accounts pursuant
to Section 10 of the Act of July 31, 1894 (U. S. Code, Title 5, Sec.
255), this Department must take exception to such procedures,
nThe Treasury Department can not assume the responsibility for
the difficulties arising under General Regulations Ho,.84, which ap
parently have, not only retarded the progress of the audit but have
unnecessarily increased the expenses of the Government, The Treasury
endeavored to avoid these difficulties in the beginning, but was
unsuccessful because it was unable to receive from the General Ac
counting Office such assurances as are considered necessary to
provide a harmonious working arrangement in accordance with the
A-5160 7
- 31
principles expressed in the Department’s previous letters. Such
regulations have not only increased the expense of this Department
tut apparently have also added to the administrative expenses of other
departments ( soe, for example, House Subcommittee hearings on the ap
propriations for the Havy Department for the fiscal year 1938, page
387).
’’With a view to eliminating the added expense in the Division
of Disbursement of the Treasury Department as a result of General
Regulations Ho. 84, unless a satisfactory arrangement can be reached,
this Department may be forced to the position of advising the de
partments and establishments that it will be necessary after July 1,
1937, to include in vouchers submitted to this Department for pay
ment the symbols and titles of the appropriations as carried in the
official accounts of the United States Treasury Department ànd in
cluded in Treasury warrants. In this connection, I think it ad
visable for me to advise you that I now have under consideration
the setting up on the books of the Treasury as separate appropria
tions all appropriations which heretofore have been combined, for
administrative convenience, under single appropriation titles, ef
fective July 1, 1937. If your office has any suggestions with respec g to the matter, I should be glad if you will advise me.
” 1 regret that it is necessary for me to take the position
indicated in this letter, but in view of the attitude that the
General Accounting Office has assumed concerning this matter, I
see no alternative, since I believe it is my responsibility to
discharge the duties imposed upon the Secretary of the Treasury
by law.
’’The present practice of the Chief Disbursing Officer in
tendering accounts to the General Accounting Office in accordance
with the manner in which funds are advanced to him on Treasury
warrants, appears to be in conformity with law. It will be neces
sary, therefore, that further consideration be given to the request
contained in your letter, since it is doubtful whether any change
can be made until the difficulties between the Treasury and the
General Accounting Office, which were, caused by the issuance of
Regulations Ho. 84, can be worked out.”
I appreciate the frank statement of your position in this
matter and am mindful of the cause thereof.
A-51607
- 32
As you know, General Regulations ¥0* 84 of June 15, 1936, were
issued "by the former Comptroller General,
I had nothing to do with
the issuance of said regulations or with the devising of the system
of symbols prescribed therein and, hence, am not responsible there
for,
It is much to be regretted that there was not followed in that
instance the same procedure which was followed in connection with
the prescribing by the Comptroller General (General Regulations No«
44 of June 1, 1925, and General Regulations No, 67 of June 27, 1928)
of the system of symbols theretofore in use, and I may say that I
have no doubt the former Comptroller General in issuing General
Regulations No, 84 assumed that such procedure had been followed,
I agree with the view expressed in your letter, supra, to the
effect that the provisions of Section 309 of the Budget and Ac
counting Act of June 10, 1921, 42 Stat, 25, do not authorize this
office to assume or to interfere with the duties imposed upon the
Treasury Department under the provisions of Section 10 of the Act
of July 31, 1894, 28 Stat, 208, and I fully recognize the distinction
between the accounts referred to in said Section 10 and the adminis
trative accounting referred to in Section 309 of the Budget and
Accounting Act,
If there exists at the present time any instance
of what appears to be an attempt on the part of this office to
assume or to interfere with duties imposed by law upon the Secre
tary of the Treasury, I ¡shall be pleased to have such specific in
stances brought to my personal attention for correction.
A-51607
- 33
I assume it would not “be seriously questioned that the duty
of prescribing "the forms of keeping and rendering all public ac
counts, except those relating to the postal revenues and expendi
tures therefrom1’, which was imposed upon the Comptroller of the
Treasury by Section 5 of the act of July 31, 1894, 28 Stat# 206, is,
pursuant to the provisions of Section 304 of the Budget and ,Ac
counting Act of June 10, 1921, note "vested in and imposed upon"
this office, and that such duty is to be "exercised without direction
from any other officer."
However, in the performance of that duty
and the duties imposed upon this office under Sections 305 and 309
of the Budget and Accounting Act* and all other duties imposed upon
this office, It is my earnest desire that there be recognized the
powers and duties of the Secretary of the Treasury with respect to
the public moneys.
I fully appreciate the fact that there is such a connection
between the duties imposed upon the Treasury Department in the mat
ter of issuing warrants and of keeping accounts of receipts and ex
penditures of public moneys and the duties imposed by law upon this
office as to require hearty cooperation to the end that the duties
of each establishment may be performed as expeditiously and economi
cally as possible without imposing any undue burden or inconvenience
on the other.
The primary object in prescribing the change in the system of
symbolizing was to provide for the keeping and rendering of accounts
JL-51607
- 34
in such a way that there could be an expeditious audit of expenditures
with a view to ascertaining whether the limitations prescribed in the
various appropriation acts are being properly observed*
I assume it
will be conceded that such an audit should be made; and, since it had
not theretofore been made, the adoption of any procedure to take care
of it would necessarily involve some additional work and expense.
The use of the system of symbols prescribed in Genera! Regulations No.
84 is believed to be the most expeditious and economical means of
taking care cf the situation.
Consequently, it is sincerely hoped
that you may overlook any lack of cooperation on the part of this of
fice in the devising or prescribing of the system - an occurrence
for which I was not responsible and which, as hereinbefore stated,
is regrettable - and adopt said system in lieu of the system thereto
fore prescribed by the Comptroller General, if and to the extent that
its adoption is possible without undue interference with the duties
or responsibilities imposed by law upon the Secretary of the Treasury.
While there may be no law authorizing this office to prescribe
symbols to be used on warrants or in the accounts required by Section
10 of the act of July 31, 1894, to be kept under your direction, and
no law authorizing the Secretary of the Treasury to prescribe symbols
to be used in connection with accounting forms or systems which this
office is authorized by law to prescribe, it is obvious that it will
facilitate the work of both establishments if the same system of
A-51607
35
symbols can be used for both purposes.
In so far as I am concerned,
it is immaterial who devises the system so long as it will meet the
needs of both offices.
The old system does not meet the present needs
of this office in that it does not provide a proper means of indicat
ing the limitations.
If the system prescribed under General Regulations
No. 84 fails in any respect to meet the requirements of your office,
I shall be pleased to adopt any changes you may suggest that will
make the system workable in both offices.
You suggest the possibility of carrying each limitation as a
separate appropriation with its separate title and symbol.
This
probably would meet the auditing requirements of this office but it
is believed the work and expense incident thereto, - not only in this
office and in the Treasury Department, but also in the various ad
ministrative offices, — would be largely in excess.of the work and
expense incident to the accomplishment of the same purpose by the
adoption and use by both offices of the same system of symbolizing.
Consequently, I trust that you will give further consideration to my
request of April 24, 1937.
And if you will call to my attention at
any time any specific instance of difficulties between this office
and the Treasury Department which any action of mine might solve,
or of any lack ov
f cooperation on the part of this office, I assure
you the matter will receive my prompt and careful consideration.
Sincerely yours,
( Signed)
R. N. Elliott
Acting Comptroller General
of the United States*
36
office of the Secretary
TREASURY DEPARTMENT
Washington, D, C,
c
0
July 7, 1937.
I
My dear Judge Elliott:
X have your letter of Jane 17, 1937, (A*-51607), in reply
to my letter of Jirne 14, relative to the use of the appropriation
symbols prescribed in General Regulations Ho. 84.
You state that the primary object in prescribing the change
in the system of symbolizing appropriation accounts was to provide
for the keeping and rendering of accounts in such a way that there
could be an expeditious audit of expenditures with a view to ascertain
ing whether the limitations prescribed in the various appropriation
acts are being properly observed.
The Department concurs in your view that the audit of
expenditures should be made in such a manner as to see that all
limitations in appropriation acts are observed.
It is to be noted,
however, that the limitations to which you refer (as distinguished
from appropriations) are taken care of in appropriation symbols by
means of a decimal suffix and, therefore, the audit of limitations
would not of itself have necessitated an entirely new system of ap
propriation symbols*
In any event, while a system of symbolizing
may be necessary for facilitating the audit of expenditures, this
Department does not agree that such purpose is, or should be, the
primary object of a system of numerical symbols.
In my previous letters your attention was directed to the
fact that under existing law it is tills Department’s responsibility,
&ot only to issue all warrants on the United States Treasury, but
also to maintain the public accounts and to make financial reports
Hon. H. H. Eïliott - 2
- 37 and statements relating to the revenues and expenditures of the
Government,
The regular financial reports and statements of the
Treasury are made through the medium of the Daily Statement of the
United States Treasury; the Annual Report of the Secretary of the
Treasury; and the annual Combined Statement of Receipts and Ex
penditures , which is submitted to the Congress at the beginning of
each regular session pursuant to specific requirement of law.
In
addition, the Treasury compiles many other financial statements from
time to time in connection with the conduct of its daily affairs.
While it may be true that numerical symbols serve a purpose in the
audit of expenditures, clearly this is not their primary object.
Their primary object is, or should be, to facilitate the posting
and classification of accounts relating to revenues and expenditures,
and the preparation of financial statements therefrom for the purpose
of financial management.
The system of symbols prescribed in General
Regulations Ho, 84, does not meet the Treasury* s requirements in
these respects.
There are a number of reasons why the Treasury is vitally
interested in the procedure to be followed for symbolizing the reve
nue appropriation and expenditure accounts of the Government-,
First,
because under specific provision of law the official accounts relating
to revenues, appropriations, and expenditures appertaining to all de
partments and establishments of the Government (except postal) are
maintained upon the books of the Treasury,
Secondly, becausq as the
volume of business of the Government increases, the need for using
numerical symbols for posting accounts and classifying receipts and
expenditures in financial statement s through the use of mechanical
equipment becomes increasingly important.
Hon. R. IT* Elliott - 3
- 38 The system of symbolizing accounts eventually to he adopted
for use "by this Department must make provision for needed improve
ments in thei present system of accounting in the Treasury Department.
Among other things, these improvements must provide for closer co
ordination of the accounting work of the Division of Disbursement,
the Division of Bookkeeping and Warrants, the Office of the Treasurer
of the United States, and related activities.
It must meet the need
for expeditious posting and proving of thousands of items which are
cleared by these respective agencies daily, and the prompt classifi
cation of the results in the financial statements of the United States
Treasury.
It must take into consideration the type of accounting
machinery available to take care of the large volume of checks, certif
icates of deposit, etc., which must be handled by the Treasury daily
without interruption.
It must take into consideration the fact that
the prompt dispatch of the daily business of the Treasury requires
that hundreds of clerks — many in low grades - must be trained in
following established routine; and this routine cannot be upset over
night without injurious results.
Maximum efficiency requires more expeditious designation of
new symbols to take care of new accounts or classifications than is
possible under a procedure which would require formal advance approval
of the General Accounting Office in each particular instance.
In
former years the designation of new appropriation symbols and titles
was a comparatively simple matter (as it should be) through close
telephonic communication and cooperation between the Division of
Bookkeeping and Warrants of the Treasury Department and the Bookkeep
ing Division of the General., Accounting Office; but since the General
Accounting Office lias assumed that the prescribing of appropriation
Hon. R. N. Elliott
4
- 39
symbols is one of its functions, there have not only been unneces
sary delays in the issuance and clearance of Treasury warrants, but
the whole procedure has become more expensive than it need be.
In the Department’s letter of June 14, you were advised
that the Treasury has had under consideration the setting up on its
books, as separate appropriations, certain appropriations which
heretofore have been combined, for administrative convenience, under
single appropriation titles.
Your reply indicates that you are under
the misapprehension that the Department had reference to so-called
limitations under appropriations, and you suggest that the purpose
could be accomplished, by using the system of symbolization prescribed
in Regulations No. 84.
The department, in its letter of June 14 did not
have reference to limitations under appropriations but rather to the
separate and distinct appropriations heretofore combined under single
titles.
It is not understood how the system of symbols prescribed in
Regulations No. 84, would enable the Treasury Department to discharge
its own responsibility with respect to the keeping of an account under
each separate head of appropriation and of reporting the expenditures
thereunder to the Congress pursuant to Section 15 of the Act of July
31, 1894.
However, in view of the long-standing practice and the
proximity of the beginning of the new fiscal year, I have determined
to hold in abeyance the setting up of the additional accounts until
the beginning of the fiscal year 1939.
This will afford the De
partment ample opportunity to confer with the Bureau of the Budget,
and House and Senate Appropriations Committees, and the interested
administrative agencies before the changes are effected,
I should
also be glad to have the Department’s representatives confer with the
General Accounting Office should you consider such action advisable.
Hon. R. .N. Elliott - 5
- 40
May I suggest for your consideration the rescinding of Gen
eral Regulations No, 84, as of July 1, 1937, with the understand
ing that during the fiscal year 1938 the Treasury Department and the
General Accounting Office will devise and jointly prescribe a system
of symbolization, for installation on July 1, 1938,
Very truly yours,
(signed) H. Morgenthau, Jr.
Secretary of the Treasury.
Hon. R. N. Elliott,
Acting Comptroller General
of the United States.
-3-
spirits could have been manufactured daily, or, in other words, the
fraud on the Federal revenue in dollars in the New Jersey operations
might have been twice that of Kentucky,
There is a direct relationship between the enforcement problem
of the Unit and the type of State liquor control exercised in a
given State, due not only to the differential of prices existing under
the various systems, but the number of sales outlets.
The nontax-paid liquor traffic is primarily a police problem.
At the present time there is but one investigator to approximately
80,000 of the population, and Mr, Berkshire pointed out that the
Unit cannot hope to police the United States effectively without
assistance from the States in enforcing their State liquor control
laws.
In some States the Federal Government receives splendid co-opera
tion, but most States have made no provision for an effective enforce
ment organization, and in many instances, local officials have been
inactive' with the result that the Federal Government has been forced
to assume almost full responsibility.
Summing it up, Me, Berkshire said, "The figures simply indicate
that the Unit has substantially reduced violations in all but the
fourteen Southern States and has made considerable progress in that
area «
-
2~
Comparative enforcement statistics for the first eleven months
of 1936 and 1937 are shown below:
Illicit stil seizures.......
Mash seizures (gallons).....
Persons arrested............
Persons indicted............
Persons convicted...........
Total sentences (days).......
Average sentences (days)....
Total fines............ .
Average fines..............
1936
15,119
12,279,779
28,574
23,433
18,272
3,293,205
304
#3,141,113
$
392
1937
11,299
8,078,385
23,688
20,486
17,067
3,028,850
296
#2,372,149
$
365
Violations have been reduced in every State in the Union, except
the 14 southern states considered as a whole, namely:
Virginia, West
Virginia, North Carolina, South Carolina, Georgia, Florida, Kentucky,
Tennessee, Alabama, Mississippi, Arkansas, Oklahoma, Louisiana, and
Texas.
Illicit distillery seizures in the fiscal year 1937, exclusive
of the Southern States, were reduced by 34.5 percent, compared with
the fiscal year 1935.
Mash seizures were reduced from 12,715,737
gallons to 4,717,116 gallons, or 62.2 percent in the same compara
tive period.
While there was an increase in still seizures in the four
teen Southern States, the number of gallons of mash seized in these
States decreased by 11.7 percent.
The fact that more stills were seized in the South does not neces
sarily indicate that more illicit liquor is produced in that area,
Alcohol Tax Unit officials pointed out.
For example, in the last fis
cal year 675 stills were seized in Kentucky, compared with 49 in New
Jersey.
While there were thirteen times as many stills seized in
Kentucky as in New Jersey, those of the Northern State were so much
larger in producing capacity that nearly twice the volume of illicit
FOR RELEASE? AFTERNOON NEWSPAPERS?
Thursday, January 15, 1958.
A/O
Press Service
^No. 12-H
1 ^
Washington
ngton
A substantial reduction in the consumption of illicit distilled
spirits by the American public during
1937 was noted
today by Deputy Commissioner of Internal Revenue Stewart Berkshire
in a study of figures compiled by the Alcohol Tax Unit, which is under
his direction.
Calculations indicate that the tax collections on distilled spirits
for the twelve-month period will exceedyfchose of 1936 by approximately
23|- per cent, while the gain in fermented malt liquor collections will
be 13 per cent, tobacco 10 per cent, and admissions 14 per cent.
On a dollars-and-cents basis Government income from distilled
spirits showed a greater proportionate gain in the past
than the revenue derived from beer, tobacco, and admissions.
year
There
has been no production whatsoever of illicit beer as distinguished
from spirits, and ’’this variance in percentages,” Mr. Berkshire ex
plained, ”is not because the American public is consuming more liquor,
but because it is consuming more taxpaid liquor and less bootleg.”
Enforcement officials of the Unit said that, although the Govern
ment is still being defrauded of a large volume of tax through the
production of illicit liquor, with a corresponding heavy loss in busi
ness to the legitimate industry, the trend since repeal definitely
shows that the bootlegger is being shaken gradually but steadily from
a position that once went far to finance activities of the underworld.
TREASURY DEPARTMENT
Bureau, of Internal Revenue
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Thursday, January 13, 1938,
Press Service
No. 12*11
A substantial reduction in the consumption of illicit distilled spirits
by the American public during 1937 was noted today by Deputy Commissioner of
Internal Revenue Stewart Berkshire ina. study of figures compiled by the Alv
V
‘
v
9-
V*
v . \ W !.
¿'isES
cohol Tax Unit, which is under his--direction.
Calculations indicate that the-tax-collections on dr stil led --spiri t s
for the twelve-month period will have exceeded those of 1936 by approximately
23| per cent, while the gain in fermented malt, liquor collect iqna will be
13 per cent, tobacco 10 per cent, and admissions 14 per cent.
On a dollars-and-cent-s.. basis Government.income---dron distilled"spirits
showed a greater proportionate gain in the past year than the revenue derived
from beer, tobacco*.and admissions.
There-has-been.no -production whatsoever
.illicit beer as distinguished, from, spiri ts* and ttthis variance, in percent—-•
ages," Mr. Berkshire explained, 11 is not because, the -Am eric sir public...is--con
suming more liquor*- but- because it is. ..consuming more, .taxpaid' liquor .and.-lass
bootleg.»
Enforcement officinis-of the ‘Unit- said -that r although the -Government- Is
•still-being defrauded of a largo., volume •of tax through, the production of
illicit liquor, with a corresponding heavy loss in business to the-legitimate
industry, the trend since repeal definitely shows that the bootlegger is be
ing shaken gradually but steadily from a position that once went far to
finance activities of the underworld.
Comparative enforcement statistics for the first eleven months of 1936
&nd 1937 are shown belowJ
- 2 -
Illicit still seizures. ............ .
Mash seizures (gallons).....................
Persons arrested............................
Persons indicted..... ................
Persons convicted...... ....................
Total sentences (days)......................
Average sentences (days)....... ............
Total fines.................. ..........
Average fines............. .................
1936
15,119
12,279,779
28,574
23,433
18,272
3,293,205
304
$3,141,113
$
392
1937
11,299
8,078,385
23,688
20,486
17,067
3,028,850
296
$2,372,149
$
365
Violations have "been reduced in every State in the Union, except the
14 southern states considered as a whole, namely:
Virginia, West Virginia,
North Carolina, South Carolina, Georgia, Florida, Kentucky, Tennessee, Alabama,
Mississippi, Arkansas, Oklahoma, Louisiana, and Texas.
Illicit distillery seizures in the fiscal year 1937, exclusive of the
Southern States, were reduced by 34.5 percent, compared with the fiscal year
1935.
Mash seiz\ires were reduced from 12,715,737 gallons to 4,717,116 gallons,
or 62.2 percent in the sane comparative period.
While there was an increase
in still seizures in the fourteen Southern States, the number of gallons of
mash seized in these States decreased by 11.7 percent.
The fact that more stills were seized in the South does not necessarily
indicate that more illicit, liquor is produced in that area, Alcohol Tax Unit
officials pointed out.
For example, in the last fiscal year* 675 stills were
seized in Kentucky, compared with 49 in New Jersey.
While there were thirteen
times as many stills seized in Kentucky as in New Jersey, those of the Northern
State were so much larger in producing capacity that nearly twice the volume
of illicit spirits could have boen manufactured daily, or, in other words, the
fraud on the Federal revenue in dollars in the New Jersey operations might
have been twice that of Kentucky.
There is a direct relationship/between the enforcement problem of the
Unit and the type of State liquor control exorcised in a given State, due not
°nly to the differential of prices existing under the various systems, but the
- 3 number of sales outlets.
The nontax-paid liquor traffic is primarily a police problem.
At the
present time there is hut one investigator to- approximately 80,000 of the
population, and Mr. Berkshire pointed out that the Unit cannot hope to police
the United States effectively without assistance from the States in enforcing
their State liquor control laws.
In some States the Federal Government receives splendid co-operation,
hut most States have made no provision for an effective enforcement organiza
tion, and in many instances, local officials have been inactive with the
result that the Federal Government has been forced to assume almost full
responsibility.
Summing it up, Mr. Berkshire said, ’’The figures simply indicate that
the Unit has substantially reduced violations in all but the fourteen Southern
States and has made^ considerable progress in that area» 11
-oOo-
II
UNITED STATES SAVINGS BONDS SALES
From September 1» 1 9 3 6 through August 31.# 1937*
Highest Total Sales in eaeh Post Offioe Class
POSSESSIONS
ALASKA
Mail Order
Post Offioe
Sales
Juneau
None
$
43,443.75
16,775.00
*
543.75
2 , 2 3 0 .0 0
Kanakanak
Total
Sale s
Sales
t
2nd class
43,987.50
16,775.00
3rd olass
2 ,2 3 0 .0 0
4th d a s s
2nd olass
3rd olass
HAWAII
Honolulu
Li hue
1 5 ,2 6 2 .5 0
1st class
Captain Cook
8,475.00
329,618.75
13,237.50
8,475.00
Kalaupapa
1 ,1 2 5 .0 0
1 ,1 2 5 .0 0
4th olass
9 1 ,2 0 0 .0 0
1st olass
2nd olass
3rd olass
San Juan
Guayana
Utuado
Patillas
314,356.25
13,237.50
89,531.25
10,762.50
1 , 2 5 6 .2 5
2,400.00
PUERTO RICO
1,668.75
10,762.50
7 ,5 0 0 .0 0
8,756.25
2,400.00
4th olass
VIRGIN ISLANDS
St« Thomas
Frederiketed
3 , 8 6 2 .5 0
Charlotte Amalie
2,081.25
93*75
3 ,8 6 2 .5 0
2nd olass
93*75
2,081.25
3rd olass
4th olass
UNITED STATES SAVIlfOS BONDS SALES
fro« September 1« 1 9 3 6 through August 31, 1937»
Highest Total Sales in aaoh Post Offles Class
TEXAS
Mail Order
Post Offles
Sales
Dallas
Conros
Hubbard
$
2,047,912.50
140,200.00
5 ,0 6 2 .3 0
Sales .
*
270,237.50
t
3 3 ,0 0 0 .0 0
5 8 ,5 0 0 .0 0
Plemons
total
Sales
2 ,3 1 8 ,1 5 0 .0 0
1 st olass
140,200.00
2 nd olass
38,062.50
5 8 .5 0 0 .0 0
4th olass
3 rd olass
UTAH
Salt Lake City
Pries
Milford
720,575.00
49,743.75
46,068.75
13,181,25
770,318.75
1 st olass
46,068.75
1 3 ,1 8 1 . 2 5
2 nd olass
7 , 5 0 0 .0 0
4th olass
1st olass
2nd olass
7 ,5 0 0 .0 0
Sooflsld
3 rd olass
VERMONT
133,406.25
100,556.25
1 0 5 ,1 8 7 .5 0
2 , 2 5 0 .0 0
2 3 8 , 5 9 3 .7 5
1 0 2 ,8 0 6 .2 5
6 0 0 .0 0
7,875.00
8 ,4 7 5 .0 0
3rd olass
Hartford
4 ,0 5 0 .0 0
1 3 1 .2 5
4,181.25
4th olass
Riohmond
983,206.25
5 6 ,3 0 6 .2 5
1 2 7 ,5 7 5 .0 0
8 ,2 5 0 .0 0
1,110,781.25
6 4 ,5 5 6 .2 5
42,375.00
1st olass
2nd olass
3rd olass
3 1 ,8 7 5 .0 0
31,875.00
4th olass
65,193.76
3,175,987.50
7,537.50
7 ,5 0 0 .0 0
63,731.25
29,287.50
7 ,5 0 0 .0 0
1 st olass
2 nd olass
Rutland
Pair Haven
Manchester Center
VIRGINIA
Crewe
Parksley
42,375.00
Odd
WASHINGTON
Seattle
3,110,793*75
Contraila
63,731.25
Concrete
Thornton
2 1 ,7 5 0 .0 0
3 rd olass
4th olass
WEST VIRGINIA
Charleston
Spenoer
Harrisvilie
Plekens
Milwaukee
Monroe
Baldwin
378,356.25
2 7 l, 5 0 0 .0 0
5,418.75
487.50
27,037.50
7,743.75
6,571,781.25
1 0 4 ,6 6 2 .5 0
45,750.00
1 st olass
271,987.50
2 nd olass
27,037.50
3 rd olass
8,493.75
4th olass
7 5 0 .0 0
WISCONSIN
158,868.75
6 ,7 3 0 ,6 5 0 .0 0
1 st olass
7 5 .0 0
104,737*50
2 nd olass
18.75
45,768.75
1 5 ,1 1 2 . 5 0
3 rd olass
272,943.75
1 1 6 ,5 7 5 .0 0
1 st olass
2 nd olass
9,843.75
3,750.00
3 rd olass
1 5 ,1 1 2 . 5 0
St oddard
383,775.00
4th olass
WYOMING
Cheyenne
Douglas
Hanna
Parson
266,006.25
115,925.00
6,937.50
9,093.75
7 5 0 .OO
6 5 0 .0 0
3,750.00
DIVISION OF SAVINGS BONDS
4th olass
UNITED STATES SAVINGS BONDS SALES
From September 1, 1336 through August 3*, 1337«
Highest Total Sales in each Post Office Class
NORTH CAROLINA
Post Offlee
Charlotte
Albemarle
457*368.75
73,968.75
Littleton
31,893*75
%
50,633.75
468.75
2 ,5 5 0 .0 0
1 0 , 5 0 0 .0 0
Letitia
Total
Mail Order
Sales
Sales
Sales
%
5 0 8 ,0 6 2 .5 0
1 st olass
74,437.50
2 nd d a s s
3 rd olass
34,443.75
1 0 , 5 0 0 .0 0
4th class
NORTH DAKOTA
Fargo
Orafton
Michigan
4 3 4 ,1 0 0 .0 0
7,631.25
441,731.25
1 st olass
87,818.75
11,981,25
1 1 2 .5 0
87,931.25
4 5 ,8 5 6 .2 5
1 0 ,0 1 2 .5 0
2 nd class
3 7 ,8 7 5 .0 0
1 0 ,0 1 2 .5 0
Whitman
3 rd olass
4th olass
OHIO
Cleveland
Van Wert
New Vienna
5 ,2 4 1 ,4 3 1 . 2 5
1 2 3 ,0 5 6 .2 5
4 3 ,0 3 1 .2 5
3 1 2 , 5 0 6 .2 5
1 3 1 .2 5
1 ,1 0 6 .2 5
7,500.00
Mlamitown
6,153,937.50
1 2 3 ,1 8 7 .5 0
44,137.50
7 ,5 0 0 .0 0
1st olass
2nd d a s s
3rd olass
4th d a s s
OKLAHOMA
Tulsa
Miami
1,280,856.25
146,581.25
Billings
Paoli
4 5 ,6 5 0 .0 0
Portland
2 ,7 1 2 ,4 0 6 .2 5
Grants Pass
Tigard
1 1 0 ,4 3 3 .7 5
2 4 ,6 5 6 .2 5
S»neea
Philadelphia
New Brighton
6.143,718,75
Albion
Oanielsvlllo
41,681.25
Providence
Wakefield
Slatersville
1 6 5 ,3 4 3 .7 5
616,575.00
2 1 ,3 0 0 .0 0
Sstlll
Gaffney
1,313,918.75
148,481.25
2,268.75
1 5 ,0 0 0 .0 0
51,318.75
1 5 ,0 0 0 .0 0
OREGON
43,950,00
2 ,7 5 6 ,3 5 6 .2 5
4th class
1 2 5 ,6 4 3 .7 5
2 4 ,6 5 6 .2 5
1st olass
2nd olass
3rd olass
5,925.00
5 ,9 2 5 .0 0
4th d a s s
7 ,6 0 1 ,3 2 5 .0 0
1st olass
2nd class
3rd olass
4th olass
PENNSYLVANIA
1,457,606.25
5 2 5 .0 0
1 6 5 ,8 6 8 .7 5
2 0 ,2 5 0 .0 0
2 0 , 2 5 0 .0 0
41,681.25
RHODE ISLAND
236,006,25
75.00
3 ,0 0 0 .0 0
1st olass
2nd olass
3rd olass
3 0 0 .0 0
4th olass
3 5 1 ,6 7 5 .0 0
1st olass
2nd da ss
3rd olass
4th olass
852,581.25
21,375.00
3 0 0 .0 0
SOUTH CAROLINA
3 2 ,0 0 6 .2 5
3 1 9 ,6 6 8 .7 5
7 4 ,6 5 0 .0 0
1st olass
2nd olass
3rd olass
1 5 ,1 5 0 .0 0
5,000.00
Carolina
Columbia
Orangeburg
32,062.50
1 , 5 0 0 .0 0
8,775.00
8 3 ,4 2 5 .0 0
18,412.50
1 1 ,2 5 0 .0 0
2 3 ,6 6 2 .5 0
5 ,0 4 3 .7 5
3,000.00
1 4 ,0 4 3 .7 5
SOUTH DAKOTA
Sioux Falls
Lead
Edgemont
Cottonwood
Memphi s
Maryville
M&nohester
Dukedom
3 3 5 ,9 6 2 .5 0
3 5 7 , 5 5 6 .2 5
1 0 0 ,3 3 1 .2 5
3 0 ,6 3 3 .7 5
21,593.75
3,243.75
6 ,1 1 2 . 5 0
6,843.75
1 ,6 8 7 .5 0
8 ,5 3 1 . 2 5
37,087.50
1,402,406.25
56,418.75
2 6 ,5 6 2 .5 0
TENNESSEE
57,175.00
3 6 ,8 0 6 .2 5
1st olass
2nd olass
3rd olass
4th elas6
787.50
6,168.75
3 3 ,1 3 1 .2 5
1st olass
2nd olass
3rd olass
7 ,5 0 0 .0 0
7 , 5 0 0 .0 0
4th d a s s
1,459,581.25
5 7 ,2 0 6 .2 5
DIVISION OF SAVINGS BONDS
UNITED STATES SAVINGS BONDS SALES
Pro» September 1» 1 9 3 6 through August 31» 1337*
Highest Total Sales in saeh Post Offioo Class
MINNESOTA
Minneapolis
Little Palls
Clara City
$
Post Offloe
Sales
7 ,0 9 2 , 5 5 0 .0 0
1 0 8 , 5 8 7 .5 0
7*968.75
Dennison
Total
Sales
Mall Order
Sales
*
897*768.75
3 1 ,4 0 6 .2 5
7*990,318.75
109*337.50
39*375.00
1 5 ,8 6 2 .5 0
1 5 ,8 6 2 .5 0
7 5 0 .0 0
t
1st olass
2nd olass
3rd class
4th olass
MISSISSIPPI
Jaokson
Corinth
Iuke
5 1 1 ,5 5 0 .0 0
118,443*75
43,200.00
Toanolen
3 7 5 .0 0
119,081.25
4 3 * 5 7 5 .0 0
1st class
2nd olass
3rd class
6,000.00
6,000.00
4th olass
5 2 1 ,2 7 5 .0 0
6 ,4 9 9 *0 2 5 .0 0
1 ,5 3 7 .5 0
7 5 0 .0 0
114,212.50
3 7 , 1 2 5 .0 0
1st class
2nd class
3rd olass
1 5 ,0 0 0 .0 0
1 5 ,0 0 0 .0 0
4th olass
1st olass
2nd olass
3rd olass
4th olass
1 0 ,5 9 3 .7 5
6 3 7 .5 0
5 2 2 ,1 4 3 . 7 5
MISSOURI
Saint Louis
Trenton
Fairfax
Centerview
5*977*750.00
1 1 2 ,6 7 5 .0 0
3 6 ,3 7 5 .0 0
MONTANA
Butte
Livingston
Hysham
Poplar
571,487.50
6 ,1 1 2 . 5 0
5 7 7 ,6 0 0 .0 0
160,537.50
9 *0 3 7 .5 0
3 7 *5 0 0 .0 0
169,575.00
42,412.50
4 ,9 1 2 .5 0
1 4 ,4 7 5 .0 0
1 4 ,4 7 5 .0 0
NEBRASKA
Omaha
Seward
Osceola
Weston
Reno
Tonopah
McGill
109,843.75
2,925*843.75
192,362.50
6 3 ,4 3 7 .5 0
2 ,2 5 0 .0 0
65*737.50
1st class
2nd olass
3rd class
3*487.5®
7 ,5 0 0 .0 0
1 0 ,9 8 7 .5 0
4th olass
2,816,000.00
1 9 2 ,3 6 2 .5 0
177*356.25
43,537.50
1 2 ,9 5 6 .2 5
Elgin
Portsaouth
Berlin
Hanoook
Merrimack
1 3 0 , 1 0 6 .2 5
4 7 *6 3 1 . 2 5
NEVADA
10,612*50
75.00
187,968.75
4 3 *6 1 2 .5 0
450.00
1 3 ,4 0 6 .2 5
1st class
2nd class
3rd olass
6,000.00
6 ,0 0 0 .0 0
4th olass
1 4 6 ,4 9 3 .7 5
1st olass
2nd olass
3rd olass
NEW HAMPSHIRE
16,387*50
6 ,3 0 0 .0 0
53,931.25
7 , 5 0 0 .0 0
1 5 ,0 0 0 .0 0
7 ,5 0 0 .0 0
1 5 ,0 0 0 .0 0
4th olass
NEW JERSEY
Newark
Millville
Cleaenton
1*573*993.75
54,375.00
15*543.75
1 7 5 ,6 0 0 .0 0
8,137.50
1*749,593.75
6 2 , 5 1 2 .5 0
1 9 *3 3 1 .2 5
7 , 5 0 0 .0 0
3,787.50
7 , 5 0 0 .0 0
Lake Como
1st olass
2nd olass
3rd olass
4th olass
NEW MEXICO
Albuquerque
4 0 3 , 2 5 6 .2 5
Gallup
64,218.75
Española
Enelno
1 4 ,4 3 7 .5 0
New York City
Predonia
Edmeston
Towners
1 7 *9 7 0 ,4 0 0 .0 0
7 1 ,7 3 1 . 2 5
11,512.50
8 ,6 2 5 .0 0
4 1 4 ,7 6 8 .7 5
72,843.75
1 4 ,4 3 7 .5 0
1st olass
2nd olass
3rd class
4,556.25
4 ,5 5 6 .2 5
4th olass
NEW YORK
5,646,725.00
2 3 ,7 0 0 .0 0
2 3 ,6 1 7 , 1 2 5 .0 0
1st olass
2nd olass
3rd olass
4th olass
48,112.50
9 5 ,4 3 1 . 2 5
48,112.50
2 0 ,0 2 5 .0 0
2 0 ,0 2 5 .0 0
DIVISION OP SAVINGS BONDS
UNITED STATES SAVINGS BONDS SALES
Pros September 1, 1936 through August 31» 1937«
Highest Total Sales In eaeh Post Offlee Class
ILLINOIS
Chicago
Berwyn
Total
Sales
Post Offiee
Sales
Mall Order
Sales
$ 2 2 Ȏ3 6 ,0 6 2 .5 0
1 2 0 ,3 0 0 .0 0
$ 2,941,137.50
2 2 ,l6 2 .5 0
♦ 25,577,200.00
142,462.50
lst ola«.
2 nd elass
3 **d elass
Tha w i l l s
44,793*75
Albany
2 0 , 2 6 8 .7 5
7 ,5 0 0 .0 0
44,793.75
27,768.75
2 ,3 5 1 ,6 5 0 .0 0
INDIANA
229,475.00
3 ,0 8 1 , 1 2 5 .0 0
lst elass
1 1 9 ,4 3 7 .5 0
9 0 0 .0 0
1 2 0 ,3 3 7 .5 0
2 8 ,9 1 2 .5 0
23,887.50
24,000.00
52,800,00
znd elass
3rd elass
24,000.00
4th olass
2,253,962.50
180,600.00
lst elass
2nd elass
59,725.00
3rd elass
4th elass
Indianapolis
Columbia City
Remington
Blppus
4th elass
IOWA
Des Moines
2 ,2 2 2 ,0 3 1 .2 5
178,800.00
Osage
Nora Springs
31,931.25
1,800.00
5 9 ,7 2 3 .0 0
2 0 ,5 5 0 .0 0
Fairfax
2 0 ;5 5 0 .0 0
KANSAS
Wlohlta
Larned
1,425,081.25
148,143.75
52,275.00
Holyrood
Moscow
34,737.50
412.50
1,459,818.75
1 4 8 ,5 5 6 .2 5
37.50
52,312.50
15,000.00
1 5 ,0 0 0 .0 0
lst elass
2nd elass
3rd olass
4th olass
KENTUCKY
Louisville
Mount Sterling
Horse Cave
Union
New Orleans
Homer
1,896,462.50
1 5 2 ,7 0 0 .0 0
48,787.50
1
1,620,806.25
9 7 ,0 5 0 .0 0
133,893.75
1 5 ,0 0 0 .0 0
LOUISIANA
298,987.50
1 ,7 2 5 .0 0
2 6 ,6 2 5 .0 0
Urania
Larose
2 ,0 3 0 ,3 5 6 .2 5
1 5 2 ,7 0 0 .0 0
lst elass
2nd olass
48,787.50
1 5 ,0 0 0 .0 0
3rd elass
4th elass
1 ,9 1 9 ,7 9 3 . 7 5
lst elass
2nd elass
98,775.00
2 6 ,6 2 5 .0 0
3rd elass
5 ,2 5 0 .0 0
4th elass
5 ,2 5 0 .0 0
MAINE
Portland
3 2 5 ,2 1 8 . 7 5
82,368*75
Belfast
Gorham
Baltimore
Chestertown
Union Bridge
Chesapeake Beaoh
3 ,1 6 2 , 1 4 3 . 7 5
2 2 ,8 5 6 .2 5
2nd elass
7 ,5 0 0 .0 0
1 9 ,5 5 6 .2 5
7 , 5 0 0 .0 0
4th olass
MARYLAND
429,462.50
3 ,5 9 1 ,6 0 6 .2 5
lst elass
3 9 ,6 7 5 .0 0
12,543.75
2nd elass
3rd olass
4th elass
3,ooo.oo
6,192,743.75
84,600.00
1st elass
2nd elass
4,893*75
4,397,643.75
81,600.00
Heights
11,793*75
17,437.50
8,343.75
8,343.75
3rd olass
4th elass
Detroit
Greenville
MICHIGAN
1,014»362.50
2,175.00
8,151,737.50
247,381.25
1 st elass
2 nd eia**
Cass City
1 , 5 0 0 .0 0
5 5 ,4 2 5 .0 0
16,500.00
20,981.25
16,818.75
3 2 , 1 5 6 .2 5
3 2 ,1 5 6 .2 5
5,643.75
Marshfield Hills
Au Gres
lst elass
82,950.00
1 9 , 5 5 6 .2 5
East Sebago
Boston
Coneord
Rutland
3 5 2 ,3 5 0 .0 0
27,131.25
581.25
7,137,375.00
245,206.25
53,925.00
4,481,25
7,650.00
MASSACHUSETTS
1,795,100.00
DIVISION OF SAVINGS BONDS
3rd olass
3rd class
4th elass
UNITED STATES SAVINGS BONDS SALES
Prom September 1» 1936 through August 31# 1937»
Highest Total Sales In each Post Offioe Class
Post Offioe
Sales
Birmingham
$1,045,812.50
Soottsboro
66,131.25
34,575.00
Centerville
Paunsd&le
$
ALABAMA
Mail Order
Sales
41,231.25 $
Total
Sales
1,087,043.75
7 8 ,4 3 1 . 2 5
3 6 ,0 3 7 .5 0
1 1 ,2 5 0 .0 0
1st olass
2nd class
3rd olass
4th class
3 5 ,1 0 0 .0 0
4 2 6 ,7 0 7 .5 0
34,387.50
94,287.50
1 8 ,0 7 5 .0 0
1st class
2nd class
3rd olass
7,575.00
7 , 5 7 5 .0 0
4th class
4 4 9 ,3 1 3 . 7 5
9 3 ,4 6 8 .7 5
1st class
2nd class
3rd class
1 2 ,3 0 0 .0 0
1,462.50
1 1 ,2 5 0 .0 0
ARIZONA
Phoenix
Pre seott
Somerton
Chin Lee
391,687.50
5 9 ,9 0 0 .0 0
1 8 ,0 7 5 .0 0
ARKANSAS
Little Rook
Forrest City
MoCrory
4 3 4 ,6 7 5 .0 0
89,793.75
3 8 ,7 5 6 . 2 5
14,643.75
3,675.00
375.00
3 9 ,1 3 1 . 2 5
9 ,0 0 0 .0 0
4th class
581,368.75
7 ,9 1 2 .5 0
6,681,193-75
53,481.25
1st class
2nd class
6 ,6 9 3 .7 5
7 5 0 .0 0
24,318.75
3rd olass
4th class
9 ,0 0 0 .0 0
Weldon
CALIFORNIA
Los Angeles
Chioo
Los Altos
Newport Beach
6 ,0 9 9 , 9 2 5 .0 0
4 5 ,5 6 8 .7 5
1 7 ,6 2 5 .0 0
8,681.25
9 ,4 3 1 . 2 5
COLORADO
Denver
Canon City
Hugo
Baldwin
3 ,8 6 4 , 2 7 5 .0 0
87,318.75
1 8 ,6 5 6 .2 5
122,818.75
356.25
1 5 ,0 0 0 .0 0
9 ,7 5 0 .0 0
3 ,9 8 7 ,0 9 3 .7 5
8 7 ,6 7 5 .0 0
33,656.25
9,750.00
1 st class
2nd olass
3rd class
4th class
CONNECTICUT
New Haven
Putnam
Suffield
3 4 2 ,9 5 6 .2 5
244,387.50
41,268.75
2 2 ,9 5 0 .0 0
4,237.50
West Mystic
Wilmington
Milford
Millsboro
186,981.25
3 0 ,6 5 6 .2 5
Washington
2 2 ,9 5 0 .0 0
4 , 5 9 4 , 1 7 5 .0 0
1st class
2nd ol ass
3rd class
4th class
3 ,0 0 0 .0 0
3 ,0 0 0 .0 0
DELAWARE
47,250.00
2 3 4 ,2 3 1 . 2 5
13.75
3 0 ,6 7 5 .0 0
3 ,7 5 0 .0 0
17,531.25
3,750.00
1 st class
2nd class
3rd class
4th class
DISTRICT OF COLUMBIA
1,634,975.00
6,229,150.00
1 st class
1 7 ,5 3 1 . 2 5
Bethel
587,343.75
4 5 , 5 0 6 .2 5
FLORIDA
Miami
Sanford
7 3 2 ,5 8 7 .5 0
5 5 ,6 1 2 .5 0
Boni fay
2 3 ,7 9 3 .7 5
111,312.50
24,000.00
8 , 2 5 0 .0 0
Oakland
843,600.00
7 9 ,6 1 2 .5 0
2 3 ,7 9 3 .7 5
8 ,2 5 0 .0 0
1st class
2nd class
3rd class
4th class
GEORGIA
Atlanta
Ameri ftus
Comer
1 ,0 2 0 ,0 5 0 .0 0
1 0 2 ,6 1 8 . 7 5
174,543.75
6 ,0 1 8 .7 5
1 , 1 9 4 ,5 9 3 .7 5
1 0 8 ,6 3 7 .5 0
3 7 .5 0
39,000.00
3 9 ,0 3 7 .5 0
2 5 ,5 0 0 .0 0
2 5 , 5 0 0 .0 0
Milner
1st class
2nd class
3rd class
4th class
IDAHO
Boise
1 9 2 ,9 3 7 .5 0
9,975.00
2 0 2 ,9 1 2 .5 0
Saint Maries
88,481.25
2 , 1 7 5 .0 0
9 0 ,6 5 6 .2 5
Potlaoh
1 8 ,7 5 0 .0 0
8,737.50
2 7 ,4 8 7 .5 0
Headquarters
4,668.75
4,668*75
DIVISION OF SAVINGS BONDS
1st class
2nd class
3rd class
4th class
UNITED STATES SAVINGS BONDS CASH SALES
Prom September 1, 1 9 3 6 » through August 31» 1937
AVERAGE DAILY CASH SALES - $1,576,110*12
AVERAGE PER CAPITA SALES FOR THE NATION - $3*81
First 10 Post Offices in eaeh elass, ranked by Total Sales
First Class Post Offlees
Post Office
Sale s
Chicago, 111*
New York City, N.Y.
Detroit, Mich.
Minneapolis, Minn*
Philadelphia, Pa*
Milwaukee, Wis.
Mail Order
Sale s
Total
Sales
$2 2 ,6 3 6 ,0 6 2 .5 0
1 7 »9 7 0 ,400,00
7,137,375.00
$2,941,137.50
5,646,725.00
1,014,362.50
$25*577*200.00
2 3 ,6 1 7 ,1 2 5 .0 0
7 ,0 9 2 , 5 5 0 .0 0
897,768.75
1 ,4 5 7 ,6 0 6 .2 5
7 , 9 9 0 ,3 1 8 . 7 5
7 ,6 0 1 ,3 2 5 .0 0
1 5 8 ,8 6 8 .7 5
6 ,7 3 0 ,6 5 0 .0 0
5 8 1 ,3 6 8 .7 5
5 2 1 ,2 7 5 .0 0
6 ,4 9 9 *0 2 5 .0 0
1,634,975.00
1,795,100.00
6,192,743.75
Los Angeles, Calif*
6,143,718*75
6,57l»781.25
6 ,0 9 9 , 8 2 5 .0 0
Saint Louis, Mo*
Washington, D.C*
5,977,750.00
4,594,175.00
Boston, Mass*
4 ,3 9 7 *6 4 3 .7 5
8 , 1 5 1 *7 3 7 .5 0
6, 6 8 1 ,1 9 3 . 7 5
6 , 2 2 9 ,1 5 0 .0 0
Rank
1
2
3
4
5
6
7
8
9
10
Second Class Post Offloes
Spencer, W. Va.
Greenville, Uloh.
2 7 1 ,5 0 0 .0 0
487.50
245,206.25
2 ,1 7 5 .0 0
Seward, Nebr.
1 9 2 ,3 6 2 .5 0
271*987.50
247,381.25
1
1 9 2 ,3 6 2 ,5 0
3
4
2
Osage, Iowa
1 7 8 ,8 0 0 .0 0
1,800.00
1 8 0 ,6 0 0 .0 0
Livingston, Mont.
160,537.50
1 6 9 ,5 7 5 .0 0
5
New Brighton, Pa.
165,343.75
1 5 2 ,7 0 0 .0 0
9 ,0 3 7 .5 0
5 2 5 .0 0
1 6 5 , 8 6 8 .7 5
6
1 5 2 ,7 0 0 ,0 0
7
8
Mount Sterling, Ky.
Larned, Kans*
Miami, Okla.
Berwyn, 111*
148,143.75
146,981.25
1 2 0 ,3 0 0 .0 0
412.50
1 , 5 0 0 .0 0
2 2 ,1 6 2 .5 0
1 4 8 ,5 5 6 .2 5
148,401.25
1 4 2 ,4 6 2 .5 0
9
10
Third Class Post Offices
Osoeola, Nebr.
Nora Springs, Iowa
Cass City, Mich.
Remington, Ind.
Holyrood, Kans.
Billings, Okla.
Michigan, N. Dak*
Horse Cave, Ky.
Edmeston, N.Y.
Baldwin, Wis.
6 5 ,7 3 7 .5 0
1
5 9 ,7 2 5 .0 0
2
1 ,5 0 0 .0 0
5 5 ,4 2 5 .0 0
23,887*50
37.50
52,800.00
3
4
2,250.00
63*487.50
59,725.00
53,925.00
28,912.50
52,275.00
49,650.00
2,268.75
37,875*00
11,981.25
48,787.50
48,112.50
45,750.00
52,312.50
51,918.75
4 9 ,8 5 6 .2 5
48,787.50
48,112.50
18.75
45,768.75
5
6
7
8
9
10
Fourth Class Post Offices
Pleaons, Texas
5 8 ,5 0 0 .0 0
5 8 , 5 0 0 .0 0
1
Odd, Va.
3 1 , 8 7 5 .0 0
31,875*00
2
7 , 5 0 0 .0 0
27,768.75
2 5 ,5 0 0 .0 0
3
4
24,000.00
20,981.25
5
6
7
8
Albany, 111*
Milner, Ga.
Bippus, Ind.
Au Gres, Mich.
2 0 , 2 6 8 .7 5
2 5 , 5 0 0 .0 0
24,000.00
4,481.25
1 6 ,5 0 0 .0 0
Fairfax, Iowa
2 0 , 5 5 0 .0 0
2 0 ,5 5 0 .0 0
Danlelsville, Pa.
2 0 ,2 5 0 .0 0
2 0 ,2 5 0 .0 0
Towners, N.Y.
Dennison, Minn.
Source >
20 ,0 2 5 .0 0
2 0 ,0 2 5 .0 0
1 5 ,8 6 2 .5 0
1 5 , 8 6 2 .5 0
9
10
Weekly Reports from Postmaster, Weekly Reports from Federal Reserve Banks,
Fifteenth Ceinsus of the United States - 1930» Rand McNally Commercial Atlas 1937*
DIVISION OF SAVINGS BONDS
- 2-
$2,101,500, for each business day for the first year these records were
kept.
The attached tabulations show for this period of one year the cash
sales of the first ten ranking cities, towns and villages of the first,
second, third and fourth class post offices, which led the nation in their
respective classes in the sale of Savings Bonds for this period.
Likewise, there is shown for the same period the first, second,
third
and fourth class offices in' each state in accord with the total cash amount
of bonds respectively sold.
Direct-by-mail and post office salesfrom Chicago, Illinois, give
that city the lead for the Nation and for the first class post offices.
Chicago’s cash sale for the period was $25,577,200.
Spencer, West Virginia, leads the second class post offices, with a
cash sale of $271,987.50,
Osceola, Nebraska, leads all third class post
offices, having a cash sale of $65,737.50.
The fourth class post offices, of which there are more than 34,000
throughout the United States, are led by Plemons, Texas.
This town of
less than 100 people had the extraordinary cash sale of $58,500.
Approximately 16,000 post offices throughout the country are
authorized to sell United States Savings Bonds.
sales at each of these offices and mail order sales originating in their
respective territories are being prepared, and as completed will be
to the postmasters concerned.
forwarded
This distribution will be completed, it is
estimated, within the next two months.
I
.TREASURY DSPARTBÆEHT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS
Monday, January 17» 1958.________
38.
{'"A."’ \.
Secretary of the Treasury Morgenthau announced today that a record
for one day's sale of United States Sayings Bonds was set on Monday,
January 1 0 ^ of this year, when $10,029,780, maturity value, of these bonds
were reported sold on this single day.
Sales by post offices throughout
the country on that day represented $9,025,360, maturity value of bonds,
and direct-by-mail orders were received in Washington for Savings Bonds of
a maturity value of $1,400,020.
The total maturity value sale of Savings Bonds to the close of
business December 31, 1937, amounted to $1,367,935,000.
This total was
purchased by more than 1 ,20 0 ,0 0 0 investors, and represents an average sale
for each business day since March 1, 1935, when these bonds were first sold,
of $1,577,800.
The sale of Savings Bonds for the calendar year 1937 was 34.6
per cent greater than for 1936, and the year 1936 exceeded the ten-months
sale of these bonds in 1935 by 82 per cent.
The total maturity value sale for the calendar year just closed
amounted to $635,419,200, with approximately 490,000 purchasers, and an averagj
sale for each business day for the year 1937 of $2,090,200.
Detailed analysis of the daily sale at each of the post offices
throughout the country authorized to sell Savings Bonds was begun on
September 1, 1936, and for the year ending August 31, 1937, showed that
there was a maturity value sale of $636,748,500, or an average sale of
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Monday, January 17, 1938,________
1/14/38.
Press Service
No. 12-12.
Secretary of the Treasury Morgenthau announced today that a record
for one day’s sale of United States Savings Bonds was set on Monday,
January 10, of this year, when $10,029,780, maturity value, of these "bonds
were reported sold on this single day.
Sales "by post offices throughout
the country on that day represented $9,025,360, maturity value of "bonds,
and direct-hy-mail orders were received in Washington for Savings Bonds of
a maturity value of $1,400,020.
The total maturity value sale of Savings Bonds to the close of
business December 31, 1937, amounted to $1,367,935,000.
This total was
purchased by more than 1 ,20 0 ,0 0 0 investors, and represents an average sale
for each business day since March 1, 1935, when these bonds were first
sold, of $1,577,800.
The sale of Savings Bonds for the calendar year 1937 was 34.6
per cent greater than for 1936, and the year 1936 exceeded the ten-months
sale of these bonds in 1935 by 82 per cent.
The total maturity value sale for the calendar year just closed
amounted to $635,419,200, with approximately 490,000 purchasers, and an
average sale for each business day for the year 1937' of $2,090,200.
Detailed analysis of the daily sale at each of the post offices
throughout the country authorized to sell Savings Bonds was begun on
September 1, 1936, and for the year ending August 31, 1937, showed that
there was a maturity value sale of $636,748,500, or an average sale of
~ 2 -
$2,101,500, for each business day for the first year these records were
kept.
The attached tabulations show for this period of one year the cash
sales of the first ten ranking cities, towns and villages of the first,
second, third and fourth class post offices, which led the nation in their
respective classes in the sale of Savings Bonds for this period.
Likev/ise, there is shown for the same period the first, second,
third and fourth class offices in each state in accord with the total cash
amount of bonds respectively sold.
Direct-by—mail and post office sales from Chicago, Illinois, give
that city the lead for the ITation and for the first class post offices.
Chicagofs cash sale for the period was $25,577,200.
Spencer, West Virginia, leads the second cla.ss post offices, with
a cash sale of $271,987.50.
Osceola, Nebraska, leads all third class post
offices, having a cash sale of $65,737.50.
The fourth class post offices, of which there are more than 34,000
throughout the United States, are led by Plemons, Texas.
This town of
less than 100 people had the extraordinary cash sale of $58,500.
Approximately 15,000 post offices throughout the country are
authorized to sell United States Savings Bonds.
Regional reports as to
annual sales at each of those offices and. mail order- sales originating
ln their respective territories are being prepared, and as completed will
la forwarded to the postmasters concerned.
This distribution-will be
completed, it is estimated, within the next two months.
oOo—
UNITED STATES SAVINGS B ONDS CA S H SALES
P r o m S e p t e m b e r 1» 1936*
t h r o u g h A u g u s t 31* 1937*
AVERAGE DAILY CASH SALES - $1,576*110*12
AVERAGE PER CAPITA SALES FOR THE NATION - $3*81
First 10 Post Offices in each olass* ranked by Total Sales
First Class Post Offlees
Chicago* 111*
New York City* N.Y.
Detroit* Mich*
Minneapolis, Minn*
Philadelphia* Pa.
Milwaukee* Wis.
Los Angeles* Calif.
Saint Louis* Mo.
Washington* D.C.
Boston* Mass.
Spencer* W. Va.
Greenville* Mloh.
Seward* Nebr.
Osage* Iowa
Livingston* Mont.
New Brighton* Pa*
Mount Sterling* Ky.
lamed, Kans.
Miami* Okla.
Berwyn* 111.
Osceola, Nebr.
Nora Springs, Iowa
Post Office
Sale s
$ 2 2 *6 3 6 *0 6 2 .3 0
17,970*400.00
7#137,37$. o o
7 ,0 9 2 ,5 5 0 .0 0
6*143,718.75
6*571,781.25
6 ,0 9 9 , 8 2 5 .0 0
5,977,750.00
4,594,175.00
4,397,643.75
Mail Order
Sales
$2,941,137.50
5,646*725.00
1*014*362.50
160,537.50
165,343.75
1 5 2 ,7 0 0 .0 0
148,143.75
146*981.25
1 2 0 ,3 0 0 .0 0
8*151,737.50
897,768.75
7,990,318.75
1 ,4 5 7 ,6 0 6 .2 5
7 *6 0 1 ,3 2 5 .0 0
1 5 8 ,8 6 8 .7 5
6,730,650.00
5 8 1 ,3 6 8 ,7 5
5 2 1 *2 7 5 .0 0
6 ,4 9 9 *0 2 5 .0 0
1,634,975.00
1,795*100.00
Second Class Post Offiees
271,500.00
487.50
2 *1 7 5 .0 0
245,206.25
192,362.50
178,800.00
Total
Sales
$ 2 5 ,5 7 7 ,2 0 0 .0 0
2 3 ,6 1 7 *1 2 5 .0 0
6,681,193.75
6 * 2 2 9 *1 5 0 .0 0
6,192,743.75
Rank
1
2
3
4
5
6
7
8
9
10
271,987.50
247*381.25
1
1 9 2 , 3 6 2 .5 0
3
1*800.00
180*600.00
4
9 *0 3 7 .5 0
5 2 5 .0 0
1 6 9 *5 7 5 .0 0
1 6 5 ,8 6 8 .7 5
5
6
412.50
148,556.25
1 , 5 0 0 .0 0
148,481.25
2 2 *1 6 2 .5 0
142,462.50
1 5 2 ,7 0 0 .0 0
Third Class Post Offloes
2 ,250 *0 0
63*487.50
59,725.00
2
7
8
9
10
1
65,737.50
59,725.oo
5 5 ,4 2 5 .0 0
3
5 2 ,8 0 0 .0 0
4
2
Cass City, Mloh.
53*925.00
1 ,5 0 0 .0 0
Remington, Ind.
Holyrood, Kans.
28*912*50
5 2 ,2 7 5 .0 0
23,887.50
3 7 .5 O
52,312.50
5
Billings, Okla.
49*650.00
11,981.25
48,787*50
48,112*50
45,750.00
51,918.75
4 9 ,8 5 6 .2 5
48,787*50
48*112*50
6
Michigan, N. Dak.
Horss Cave, Ky.
2,268.75
3 7 ,8 7 5 .0 0
18.75
4 5 ,7 6 8 .7 5
Edmeston, N.Y.
Baldwin, Wis*
7
8
9
10
Fourth Class Po st Offloes
P le m ons, Texas
58*500*00 .
58*500*00
1
Odd, Va.
3 1,8 7 5 * 0 0
3 1 ,8 7 5 .0 0
2
7 ,5 0 0 .0 0
2 7 ,7 6 8 .7 5
2 5 ,5 0 0 .0 0
3
25*500*00
24*0 00*0 0
2 4 * 0 0 0 .0 0
16*500*00
5
6
7
8
A lb a n y , 1 1 1 .
2 0 ,2 6 8 .7 5
M i l n e r , Ga.
Blppus, Ind.
Au Gres, Mloh.
Fairfax, Iowa
2 0 *550 .0 0
2 0 * 9 8 1.2 5
20 *550 .0 0
Danielsville, Pa.
Towners, N.Y.
20 ,2 5 0 *0 0
20*250*00
Dennison, Minn.
Sourest
4 ,4 8 1.2 5
20 *0 2 5.0 0
15*862*50
4
20*025*00
9
15» 8 6 2 .50
10
Weekly Reports from Postmaster* Weekly Reports from Pederal Reserve Banks*
Fifteenth Census of the United States - 1930* Rand McNally Commercial Atlas 1937*
DIVISION OF SAVINGS BONDS
UNITED STATES SAVINGS BONDS SALES
Prom September 1» 1936 through August 31» 1937»
Highest Total Sales in each Post Office Class
ALABAMA
Birmingham
Soottsboro
Centervills
Post Office
Sales
$1,045,812.50
66,131.?5
34,575.00
Paunsdale
Total
Sales
Mail Order
Sales
$
41,231.25
1 2 ,3 0 0 .0 0
$
1,462.50
1 1 ,2 5 0 .0 0
1,087,043.75
1st olass
7 8 ,4 3 1 . 2 5
2nd olass
3rd olass
4th class
3 6 ,0 3 7 .5 0
1 1 ,2 5 0 .0 0
ARIZONA
Phoenix
Pre scott
Somerton
391,687.50
5 9 ,9 0 0 .0 0
1 8 ,0 7 5 .0 0
Chin Lee
1st olass
2nd olass
3 5 ,1 0 0 .0 0
4 2 6 ,7 8 7 .5 0
3 4 ,3 8 7 .5 0
94,287.50
1 8 ,0 7 5 .0 0
3rd olass
7 ,5 7 5 .0 0
7 ,5 7 5 .0 0
4th class
4 4 9 ,3 1 3 . 7 5
9 3 , 4 6 8 .7 5
1st olass
ARKANSAS
Little Rook
Forrest City
McCrory
Weldon
Los Angeles
Chioo
Los Altos
Newport Beach
4 3 4 ,6 7 5 .0 0
8 9 ,7 9 3 . 7 5
3 8 *7 5 6 . 2 5
14,643.75
3,675.00
375.00
9 ,0 0 0 .0 0
CALIFORNIA
581,368.75
3 9 ,1 3 1 . 2 5
9 ,0 0 0 .0 0
2nd class
3rd olass
4th olass
6 ,6 8 1 ,1 9 3 . 7 5
1st olass
7 ,9 1 2 .5 0
53,481.25
2nd olass
6 ,6 9 3 .7 5
7 5 0 .0 0
24,313.75
3rd olass
9 ,4 3 1 . 2 5
4th olass
3,987,093*75
8 7 ,6 7 5 .0 0
1st class
2nd olass
3 3 ,6 5 6 .2 5
9 ,7 5 0 .0 0
3rd class
1st class
2nd olass
3 ,0 0 0 .0 0
587,343.75
4 5 , 5 0 6 .2 5
2 2 ,9 5 0 .0 0
3 ,0 0 0 .0 0
186,981.25
DELAWARE
47,250.00
2 3 4 ,2 3 1 . 2 5
1st class
3 0 ,6 5 6 .2 5
13.75
3 0 ,6 7 5 .0 0
2nd class
3rd class
3,750.00
17,531.25
3 ,7 5 0 .0 0
6 ,0 9 9 , 9 2 5 .0 0
4 5 ,5 6 8 .7 5
1 7 ,6 2 5 .0 0
8,681.25
COLORADO
Denver
Canon City
Hugo
Baldwin
3 ,8 6 4 ,2 7 5 .0 0
122,818.75
87,318.75
1 8 ,6 5 6 .2 5
356.25
15,000.00
9,750.00
4th class
CONNECTICUT
New Haven
Putnam
Suffield
Nest Mystic
Wilai ngton
Milford
Millsboro
Bethel
Washington
Miami
Sanford
Boni fay
3 4 2 ,9 5 6 .2 5
244,387*50
4 1 ,2 6 8 .7 5
2 2 ,9 5 0 .0 0
4,237.50
1 7 ,5 3 1 . 2 5
4 ,5 9 4 , 1 7 5 .0 0
7 3 2 , 5 9 7 .5 0
5 5 ,6 1 2 .5 0
DISTRICT OP COLUMBIA
1,634,975.00
6,229,150.00
4th class
4th olass
1st class
FLORIDA
111,312.50
8 4 3 ,6 0 0 .0 0
1st olass
24,000.00
79,612.50
2nd class
3rd olass
8 , 2 5 0 .0 0
23,793.75
8 ,2 5 0 .0 0
2 3 ,7 9 3 . 7 5
Oakland
3rd olass
4th class
GEORGIA
Atlanta
Arneri eus
Comer
1 0 2 ,6 1 8 . 7 5
174,543.75
6 ,0 1 8 .7 5
1,194,593.75
1 0 8 ,6 3 7 .5 0
1st class
2nd olass
3 7 .5 0
3 9 ,0 0 0 .0 0
3 9 ,0 3 7 .5 0
2 5 ,5 0 0 .0 0
3rd olass
1 ,0 2 0 ,0 5 0 .0 0
2 5 , 5 0 0 .0 0
Milner
4th olass
IDAHO
Boise
1 9 2 ,9 3 7 .5 0
9,975.00
2 0 2 ,9 1 2 .5 0
Saint Maries
88,481.25
2,175.00
9 0 ,6 5 6 .2 5
1st olass
2nd class
Potlaoh
1 8 ,7 5 0 .0 0
8,737.50
2 7 ,4 8 7 .5 0
3rd olass
4 ,6 6 8 .7 5
4th olass
Headquarters
4 ,6 6 8 .7 5
DIVISION OF SAVINGS BONDS
UNITED STATES SAVINGS BONDS SALES
Prom September 1, 19 3 6 through August 31# 1937«
Highest Total Sales in eaeh Post Offleo Class
ILLINOIS
Chicago
$
Post Offiee
Sales
Mall Order
Sales
2 2 , 6 3 6 ,0 6 2 .5 0
$ 2,941,137.50
2 2 ,1 6 2 * 5 0
Total
Sales
25,577*200.00
$
142,462.50
2 0 ,2 6 8 .7 5
44,793.75
27,768.75
3rd olass
7 ,5 0 0 .0 0
2 ,8 5 1 ,6 5 0 .0 0
INDIANA
229,475.00
3,081,125*00
120,337.50
52,800.00
1st olass
2nd olass
3rd olass
24,000.00
4th olass
31*931.25
1,800.00
2,253,962.50
1 8 0 ,6 0 0 .0 0
2 nd olass
59,725.00
3 rd olass
2 0 ,5 5 0 .0 0
2 0 ^5 5 0 .0 0
4th olass
1,459*818.75
148,556.25
52,312.50
15,000.00
1st olass
2nd olass
3rd olass
1 2 0 ,3 0 0 .0 0
Berwyn
fhavville
44,793.75
Albany
Indianapolis
Columbia City
Romington
1 1 9 ,4 3 7 .5 0
9 OO.OO
28,912*50
23,887.50
24,000,00
Blppus
1 st olass
2nd olass
4th olass
IOWA
Dos Moines
Osage
Nora Springs
Palrfax
2 ,2 2 2 ,0 3 1 .2 5
178,800.00
59,725.00
1 st olass
KANSAS
1,425,081.25
Vlohlta
Lamed
148,143.75
5 2 , 2 7 5 .0 0
Holyrood
Mosco«
34,737.50
412.50
3 7 .5 O
1 5 ,0 0 0 .0 0
4th olass
KKNTUCKY
1 ,8 9 6 ,4 6 2 .5 0
1 5 2 ,7 0 0 .0 0
1,620,806.25
9 7 *0 5 0 .0 0
1 st olass
2 nd olass
3 rd
48,787.50
1 5 ,0 0 0 .0 0
LOUISIANA
298,987.50
1 ,7 2 5 .0 0
1*919*793.75
98,775*00
1st olass
2nd olass
2 6 ,6 2 5 .0 0
3rd olass
5 *2 5 0 .0 0
4th olass
2 6 ,6 2 5 .0 0
Urania
Laro8e
2,030,356.25
1 5 2 ,7 0 0 .0 0
1 5 ,0 0 0 .0 0
48,787.50
Union
New Orleans
Homer
133*893.75
m
m
4
H
O
Louisville
Mount Sterling
Horse Cavo
5 ,2 5 0 .0 0
4th olass
MAINE
Portland
3 2 5 ,2 1 8 .7 5
Belfast
Gorham
82,368.75
1 9 , 5 5 6 .2 5
7 ,5 0 0 .0 0
East Sebago
Baltimore
Chestertown
Union Bridge
Chesapeake Beaoh
27*131.25
581.25
3,162,143.75
2 2 ,8 5 6 .2 5
MARYLAND
429,462.50
16,818*75
352,350.00
1 st olass
8 2 ,9 5 0 .0 0
2 nd olass
19*556.25
7 , 5 0 0 .0 0
3 rd olass
4th olass
3,591*606.25
39,675.00
32,156.25
1st olass
2nd olass
3rd olass
12,543.75
4th olass
3 2 ,1 5 6 .2 5
4,893.75
7,650.00
4 ,3 9 7 * 6 4 3 .7 5
8 1,6 0 0 .0 0
1 * 7 9 5 ,1 0 0 .0 0
3 ,0 0 0 .0 0
6,192*743.75
84,600.00
1st olass
2nd olass
5 ,6 4 3 .7 5
1 1,7 9 3 * 7 5
17,437.50
8 ,3 4 3 .7 5
8,343.75
3rd olass
4th olass
1,014,362.50
2,175.00
8,151*737.50
247,381.25
1st olass
2nd olass
1 , 5 0 0 .0 0
16,500.00
55,425.00
20,981.25
3rd olass
4th olass
MASSACHUSETTS
Boston
Conoord
Rutland
Heights
Marshfield Hills
MICHIGAN
Detroit
Greenville
Cass City
Au Gres
7*137,375.00
2 4 5 ,2 0 6 .2 5
5 3 ,9 2 5 .0 0
4,481.25
DIVISION OF SAVINGS BONDS
UNITED STATES
SAVINGS BONDS SALES
F r o m S e p t e m b e r 1» 1 936 t h r o u g h A u g u s t 31» 1337*
Highest Total
S a l e s I n e ach P o s t O f f i c e C l a s s
MINNESOTA
IHnrsaDolls
Little Falls
Clara City
Dennison
▼
Post Office
Sales
7,092,550.00
Total
Sales
Mall Order
Sales
1st olass
2nd olass
1 0 8 , 5 8 7 .5 0
7 5 0 .0 0
7,968.75
3 1 ,4 0 6 .2 5
7,990,318.75
109,337.50
39,375*00
1 5 ,8 6 2 .5 0
15,862.50
4th olass
1 0 ,5 9 3 .7 5
6 3 7 .5 0
3 7 5 .0 0
522,143.75
119,081.25
43,575.00
1st olass
2nd olass
3rd olass
6,000.00
6,000.00
4th olass
MISSOURI
521,275.00
6 ,4 9 9 ,0 2 5 .0 0
1st olass
114,212*50
2nd d a s s
37,125.00
3rd olass
1 5 ,0 0 0 .0 0
4th olass
571,487.50
6 ,1 1 2 . 5 0
5 7 7 ,6 0 0 .0 0
1st olass
1 6 0 , 5 3 7 .5 0
9 ,0 3 7 .5 0
3 7 ,5 0 0 .0 0
169,575.00
2nd olass
42,412*50
14,475.00
3rd olass
4th olass
109,843.75
2,925,843.75
192,362.50
1st olass
2nd olass
63,487.50
2 ,2 5 0 .0 0
65,737.50
3rd olass
3,487.50
7 ,5 0 0 .0 0
10,987.50
4th olass
1 7 7 ,3 5 6 ,2 5
NEVADA
10,612*50
4 3 , 5 3 7 .5 0
75.00
187,968.75
4 3 ,6 1 2 .5 0
1 3 ,4 0 6 .2 5
6 ,0 0 0 .0 0
2nd olass
3rd olass
$
897,768.75
t
3rd olass
MISSISSIPPI
Jaokson
511,550.00
Corinth
118,443.75
43,200.00
Iuka
Toanolen
Saint Louis
Trenton
Fairfax
Centervlew
5,977,750.00
112,¿75.00
36,375.00
1,537.50
750.00
1 5 ,0 0 0 .0 0
MONTANA
Butte
Livingston
Hyshasi
Poplar
4 ,9 1 2 .5 0
1 4 ,4 7 5 .0 0
Omaha
Seward
2,816,000.00
1 9 2 ,3 6 2 .5 0
NEBRASKA
Osoeola
We ston
Reno
Tonopah
McGill
1 2 ,9 5 6 .2 5
450.00
6 ,0 0 0 .0 0
Elgin
1st class
4th olass
NEW HAMPSHIRE
Portsnouth
Berlin
1 3 0 , 1 0 6 .2 5
4 7 ,6 3 1 . 2 5
H&nooek
Merrimack
16,387-50
6 ,3 0 0 .0 0
7 ,5 0 0 .0 0
146,493.75
1st olass
53,931.25
7 ,5 0 0 .0 0
2nd olass
1 5 ,0 0 0 .0 0
1 5 ,0 0 0 .0 0
4th olass
1st olass
2nd olass
3rd olass
3 rd olass
NEW JERSEY
Newark
Millville
Clementon
Lake Como
1 ,5 7 3 ,9 9 3 .7 5
5 4 ,3 7 5 .0 0
1 7 5 ,6 0 0 .0 0
8,137.50
1,749,593*75
6 2 ,5 1 2 .5 0
1 5 ,5 4 3 .7 5
3,787.50
7 ,5 0 0 .0 0
19,331.25
7 ,5 0 0 .0 0
4th olass
NEW MEXICO
Albuquerque
Gallup
Española
Enelno
New York City
Fredonia
Edmeston
Townsrs
4 0 3 , 2 5 6 .2 5
64,218.75
414,768.75
1st olass
72,843.75
1 4 ,4 3 7 .5 0
2nd olass
4,556.25
4,556.25
4th olass
NEW YORK
5,646,725.00
2 3 ,7 0 0 .0 0
2 3 ,6 1 7 , 1 2 5 .0 0
95,431.25
48,112.50
1st elass
2nd elass
3rd olass
2 0 ,0 2 5 .0 0
4th elass
11,512.50
8 ,6 2 5 .0 0
1 4 ,4 3 7 .5 0
1 7 ,9 7 0 ,4 0 0 .0 0
7 1 ,7 3 1 . 2 5
48,112.50
2 0 ,0 2 5 .0 0
D I V I S I O N OF S A V I N G S B O N D S
3rd elass
UNITED STATES SAVINGS BONDS SALES
Prom September 1, 1 9 3 6 through August 31, 1937»
Highest Total Sales in eaoh Post Offloe Class
NORTH CAROLINA
Post Office
Sales
C h a rlo tte
A lb e m arle
457#368.75
73,968.75
L ittle to n
31,893*75
%
Kail Order
Sales
*
5 0 ,6 9 3 .7 5
4 6 8 .7 5
2 ,5 5 0 .0 0
1 0 , 5 0 0 .0 0
L e titla
%
Total
Sales
50 8 ,0 6 2 .5 0
7 4 ,4 3 7 .5 0
34,443.75
1 0 , 5 0 0 .0 0
1st elass
2nd class
3rd class
4th class
NORTH DAKOTA
P a rg o
G rafton
M ich iga n
434,100.00
87,818.75
11,981,25
7,631.25
II 2 .5 O
441,731.25
3 7 ,8 7 5 .0 0
4 9 ,8 5 6 .2 5
1 0 ,0 1 2 .5 0
1 0 ,0 1 2 .5 0
Whitman
87,931.25
1st d a s s
2nd elass
3rd class
4th elass
OHIO
Cleveland
Van Wert
New Vienna
5,241,431.25
129,056.25
43,031.25
6,153,937.50
129,187.50
let elass
2nd class
4 4 ,1 3 7 . 5 0
7 ,5 0 0 .0 0
3rd elass
4th elass
1,313,918.75
148,481.25
2 nd elass
1 5 ,0 0 0 .0 0
51,918.75
1 5 ,0 0 0 .0 0
4th elass
OREGON
43,950.00
912,506.25
I3 I .2 5
1 ,1 0 6 .2 5
7,500.00
Mlamitown
OKLAHOMA
1 ,2 8 0 , 8 5 6 .2 5
3 2 ,0 6 2 .5 0
146,981.25
1 , 5 0 0 .0 0
4 9 ,6 5 0 .0 0
Paoli
Portland
Grants Pass
Tigard
2,712,406.25
110,493.75
24,656.25
Seneca
Philadelphia
New Brighton
Albion
Danlelsvlllo
Providence
Wakefield
Slatersville
6,143,718.75
165,343.75
41,681.25
616,575.00
2 1 ,9 0 0 .0 0
2 ,2 6 8 .7 5
3 rd elass
2 ,7 5 6 ,3 5 6 .2 5
1st elass
1 5 ,1 5 0 .0 0
1 2 5 ,6 4 3 .7 5
2 4 ,6 5 6 .2 5
2nd olass
5*925.00
5 ,9 2 5 .0 0
4th elass
7 ,6 0 1 ,3 2 5 .0 0
PENNSYLVANIA
1,457,606.25
3rd elass
5 2 5 .0 0
1 6 5 ,8 6 8 .7 5
41,681.25
1st elass
2nd elass
3rd
2 0 ,2 5 0 .0 0
2 0 ,2 5 0 .0 0
4th elass
RHODE ISLAND
2 3 6 ,0 0 6 .2 5
75.00
8 5 2 ,5 8 1 .2 5
1 st elass
2 1 ,9 7 5 .0 0
2 nd elass
9 ,0 0 0 .0 0
3 rd elass
3 0 0 .0 0
4th olass
9 ,0 0 0 .0 0
3 0 0 .0 0
Carolina
1 st class
O
M
«1
«1
Tulsa
Miami
Billings
SOUTH CAROLINA
Columbia
O ran ge bu rg
E still
G a ffn e y
3 19 ,6 6 8 .7 5
7 4 ,6 5 0 .0 0
3 2 ,0 0 6 .2 5
3 5 i,6 7 5 .o o
8 ,7 7 5 .0 0
8 3 ,4 2 5 .0 0
18 ,4 12 .5 0
1 1,2 5 0 .0 0
2 9 ,6 6 2 .5 0
1st e l a s s
2nd e l a s s
3rd e l a s s
5 ,0 4 3 .7 5
9 ,0 0 0 .0 0
14 ,0 4 3 .7 5
4th e l a s s
357,556.25
1 0 0 ,3 3 1 .2 5
2nd elass
3 6 ,8 0 6 .2 5
3 r d elass
8,531.25
4th elass
SOUTH DAKOTA
Sioux Palls
Lead
Edgemont
Cottonwood
335,962.50
97,087.50
30,693.75
21,593.75’
3,243.75
6 ,1 1 2 . 5 0
1 st elass
6,843.75
1 ,6 8 7 .5 0
1 ,4 0 2 ,4 0 6 .2 5
5 7 ,17 5 .0 0
1 ,4 5 9 ,5 8 1 .2 5
1st e l a s s
M a ryv ille
5 6 ,4 18 .7 5
5 7 ,2 0 6 .2 5
2nd e l a s s
M anchester
2 6 ,9 6 2 .5 0
7 8 7 .5 0
6 ,16 8 .7 5
3 3 ,13 1.2 5
3rd e l a s s
7 ,5 0 0 .0 0
7 ,5 0 0 .0 0
4th e l a s s
TENNESSEE
ttemphi s
Dukedom
DIVISION OP SAVINGS BONDS
UNITED STATES SAVINGS BONDS SALES
Fro* September 1, 19 36 through August 31, 1937*
Highest Total Sales in eaoh Poet Offiee Class
TEXAS
Total
Mall Order
Post Offiee
Sales
Sales
Sales
Dallas
♦
Conros
Hubbard
2 047,912*50
140,200*00
5,062.50
Pienoni
2
33,000.00
38,062.50
1 st olass
2nd olass
3rd olass
58,500.00
58,500.00
4th olass
770,318.75
46,068.75
1st olass
2nd olass
3rd olass
2 7 0 , 2 3 7 .5 0
2
2 ,3 1 8 ,1 5 0 .0 0
140,200.00
UTAH
Salt Lake City
Prias
Milford
720,575*00
49,743.75
4 6 ,0 6 8 * 7 5
13,181.25
7 , 5 0 0 .0 0
Soofisld
VERMONT
105,187.50
13,181.25
7 ,5 0 0 .0 0
4th olass
1st olass
2nd olass
Rutland
133*406.25
Fair Haven
Manchester Center
1 0 0 ,5 5 6 .2 5
2 , 2 5 0 .0 0
238,593.75
102,806.25
6 0 0 .0 0
7,875.00
8,475.00
3rd olass
Hartford
4 ,0 5 0 .0 0
I3 I .2 5
4,181.25
4th olass
Riohnond
9 8 3 ,2 0 6 .2 5
VIRGINIA
127,575.00
Crewe
Parksley
5 6 ,3 0 6 .2 5
8 ,2 5 0 .0 0
42,375.00
31,875.00
Odd
1,110,781.25
64,556.25
42,375.00
31,875-00
1st
2nd
3rd
4th
olass
olass
olass
olass
WASHINGTON
Seattle
Contraila
Concrete
Thornton
3 >1 1 0 ,7 9 3 . 7 5
6 3 *7 3 1 . 2 5
2 1 ,7 5 0 .0 0
65,193.76
3,175,987.50
1 st olass
2 nd olass
7,537.50
7 ,5 0 0 .0 0
63,731.25
2 9 , 2 8 7 .5 0
7 ,5 0 0 .0 0
3 rd olass
4th olass
WEST VIRGINIA
Charleston
Spenoer
Harrisvilie
Pickens
378,356.25
2 7 1 ,5 0 0 .0 0
5,418.75
487.50
2 7,037.50
383,775.00
2 7 1 ,9 8 7 . 5 0
2 7 ,0 3 7 . 5 0
8 ,4 9 3 . 7 5
1st
2nd
3rd
4th
olass
olass
class
olass
7,743.75
7 5 0 .0 0
6 ,571,781.25
1 0 4 ,6 6 2 .5 0
158,868.75
6,730,650.00
7 5 .0 0
104,737.50
18.75
45,768.75
1 5 ,1 1 2 * 5 0
3rd olass
6 ,9 3 7 .5 0
6 5 0 .0 0
272,943.75
116,575.00
7 5 0 .0 0
9,843.75
3,750.00
1st class
2nd olass
3rd olass
4th olass
WISCONSIN
Milwaukee
Monroe
Baldwin
Stoddard
4 5 ,7 5 0 .0 0
Cheyenne
2 6 6 ,0 0 6 .2 5
Douglas
Hanna
1 1 5 ,9 2 5 .0 0
1 5 ,1 1 2 . 5 0
1st olass
2nd olass
4th olass
WYOMING
Parson
9,093.75
3 ,7 5 0 .0 0
DIVISION OF SAVINCS BONDS
UNITED STATES SAVINGS BONDS SALES
Prom September 1« 1936 through August 31» 1937
Highest Total Sales in eaeh Post Offloe Class
POSSESSIONS
ALASKA
Post Offloe
Sales
Juneau
Nome
Kanakanak
$
43,443.75
16,775.00
Total
Mall Order
Sales
Sales
$
543.75
2 , 2 5 0 .0 0
t
2nd class
43,987.50
16,775.00
3rd olass
2 , 2 5 0 .0 0
4th olass
3 2 9 ,6 1 8 . 7 5
1st class
2nd class
HAWAII
Honolulu
LIhue
314,356.25
1 3 »2 37*50
15,262.50
1 3 ,2 3 7 .5 0
8,475.00
Captain Cook
1 ,1 2 5 .0 0
Kalaupapa
San Juan
Guayana
Utuado
89,531.25
10,762.50
Patlllas
2,400.00
S t . Thomas
3 ,8 6 2 .5 0
1 , 2 5 6 .2 5
PUERTO RICO
1,668.75
8,475.00
3rd olass
1 ,1 2 5 * 0 0
4th class
9 1 ,2 0 0 .0 0
1st class
2nd class
1 0 ,7 6 2 .5 0
7 ,5 0 0 .0 0
2,400.00
3rd class
4th class
3 ,8 6 2 .5 0
2nd class
9 3 .7 5
2 ,0 8 1.2 5
3rd olass
8 ,7 5 6 . 2 5
VIRGIN ISLANDS
Frederlksted
Charlotte Amalle
93*75
2 ,0 8 1.2 5
4th olass
-
11
-
Two persons on relief in 193£ (the approximate survey year) were disabled for
one week or longer for every person disabled in both the middle and highest income
groups.
Chronic disabling illnesses in the relief population occurred at an annual
rate 87$ higher than that among families in the highest income class. ^ The annual
days of disability per capita in the relief group was found to be three times as
great as among upper income families.
The non-relief population with an income uni
$1 ,0 0 0 showed a volume of disability over twice that of the highest, income group.
Yet the upper income families received 46 per cent more care from a physician per
case of illness than persons in the relief group.
Only 1 per cent of the illnesses in relief families received bedside care froi
a private nurse while 1 2 per cent received such care in families with incomes of
$3,000 and over
-
10
-
continuous bedside nursing care, a type of nursing service practically mandator
in certain severe types of illness*
Hospitalization of Disabling Illnesses* - On the basis of hospital cases p$
person (both sick and well) the surveyed relief population received hospitalizat!
at an annual rate of 65 cases per 1GQ0 persons, as against a rate of 49 per IOOqI
persons in families with incomes of $5,000 and over.
However, the report indi-|
cates, when hospital cases were related to the number of disabling illnesses, itl
was found that the proportion of hospitalized cases among the relief population
was lower than that in families with incomes of $5,000 and over,
The lowest pro!
portion of these cases was in the non-relief families with incomes under $1 ,000,1
in which group 24 per cent of all disabling illnesses were hospitalized as againf
50 per cent for families in the highest income class.
Preliminary analysis of data on hospital care according to the size of the
surveyed cities indicates clearly that this relatively large average volume re
ceived by relief and low income families prevails only in the large cities 1 0 0 ,0 0 0 population and over.
In cities with a population of 25,000 - 1 0 0 ,000 ,
2 0 per cent of the disabling illnesses in the relief population were hospitalize<|
compared with a ratio of 29 per cent for families in the highest income class.
In the small cities of less than 25,000 population the deficiency of hospitalizajj
tion for the relief group was even more marked - only 15 per cent of the disabli
illnesses receiving hospitalization compared with 29 per cent for families with
incomes in excess of $ 5 ,0 0 0 .
These results reflect the greater inadequacy of
free hospital facilities in the smaller communities, says the U, S. Public He<hj
Service in this survey, and cites two factors which should be borne in mind ito
considering this phase of medical care.
Over 65 million people in the United Stt
live in communities of 1 0 ,0 0 0 population or less or in rural areas - and 18 mil-1
lion people live in counties in which no hospitals of any kind exist.
Gonsequeaj
ly the problem of adequate hospitalization for the lower income groups in this
vast number of communities of small population presents a problem of very seriofl
proportions.
SUMMARY AND CONCLUSIONS
On an average winter day a total of six million men, women and children a18
unable to work, attend school, or pursue other usual activities on a c c o u n t of
- 9 -
income under $1 ,0 0 0 showed a volume of disability over twice that in the highest
income group; the families with incomes between $1 ,0 0 0 and $ 2 ,0 0 0 showed a 20 pJ
cent excess*
The survey*s revelations continue by indicating clearly to what extent this
great preponderance of illness among the lower economic groups is cared for or
neglected under the headings (l) attendance by a physician, (2 ) nursing care
(visiting and private), and (5) hospital care - all in relation to family income,
In this same 81-city survey comprising over two and a quarter million persons,
the proportion of cases of disabling illnesses receiving no care from a physician!
was 17 per cent for families with incomes of $3,000 and over, but was 30 per cent
among relief families and 28 per cent for non-relief families with incomes under
$1,000*
But a more marked deficiency Is indicated, the report stresses, when the
comparison is made on the basis of the volume of service received per case of dis,
abling illness (attended and not attended),
In a surveyed population of over a
quarter million persons in 8 large cities, the average case of disabling illness
in families with incomes of $3,000 and over received 5*7 calls from a physician,
compared to only 3.9 calls per case among families on relief.
This represents
the upper income families ^recei v i n g 46 per cent more service per illness than
the individuals in the lower economic brackets.
It must be borne in mind when interpreting these figures, states the report,]
that among the surveyed relief families there was a relatively large volume of mfl
cal care provided with the aid of Federal relief funds in 1935, the approximate
survey year.
In the fall of that year Federal subsidies for medical relief were
discontinued - so that, consequently, a re-survey of conditions among these
individuals would in all probability show a marked increase of unattended cases.'
Approximately 1 per cent of disabling illnesses among the surveyed relief
population received bedside care from a private duty nurse as against 1 2 per cent
in families with incomes of $3,000 and over.
As was to be expected, a higher Prf
portion of illnesses among persons on relief received care from a visiting
13
3
pstt p
However,
w*
report states, this higher volume of visiting nurse care received by relief
sn
per cent as against
per cent for the higher income families.
low income families in no sense compensates for the relatively low volume of
-
8
-
Results of earlier surveys have shown that the frequency of illness is higJ
among the poor, and this is confirmed in the data now made public by the
survey.
p re se n t
The illness which disabled the individual for one week or longer during
w\
0
a twelve month period was nearly 60 per cent higher among families on relief thaj
it was among families with incomes of $5,000 and over.
Acute illnesses occurred
among the relief group with an excess of 47 per cent, and chronic illnesses
showed the high©«* excess of 87 per cent in the relief population as against the
rate of the highest income class.
Again, two persons on relief were disabled
for one week or longer for every person in both the middle and highest income
groups.
And although persons in families just above the relief level (income
under $1 ,0 0 0 ) experienced an illness rate lower than the relief population, them
rate was 17 per cent higher than the rate for the highest income class, the rep)
points out, with the major part of this excess due to chronic illnesses.
The part played by illness in causing dependency is indicated by the extent]
t> which disabling illness incapacitates the wage earner, this report states*
Accordingly the survey reveals that while only one in 250 family heads in the coj
fortable income group was not seeking work because of chronic disability, one in
5 5 family heads in non-relief families with incomes of less than $1 ,0 0 0 annually]
was so chronically disabled that work was impossible.
In relief families, the
report sharply points out, one in every 2 0 family heads was unable to seek work
because of disability.
Loss of employability through illness, therefore, quite
apparently pieces a burden on wage earners of low income families which results
in their high concentration among the dependent.
Analyzing the figures showing the frequency and severity (i.e. the duration!
of illness in the surveyed population also brings out what this report calls "thej
best single index of the annual burden of illness.”
Not only do relief and low.
income families experience more frequent illness than their more fortunate neigl|
bors, but their illnesses are of longer duration.
This duration of disabling
chronic illness among the relief families was 65 per cent longer than It was toI
the group with $5,000 and over.
Coupled with the higher frequency of illness &
this relief group, this gives rise to an annual per capita volume of disability
within the group that is three times as great as among the upper income familie
12 days as compared with 4 days per person.
Also, the non-relief group with an
-
7
-
Annual cases
disabling for one week Humber !
or longer
of cases
per 1 0 0 0 persons
(Continued)
Diagnosis
Tuberculosis, all forms
Sinusitis
Hernia
Ulcer of stomach or duodenum
Cancer
Diabetes
Hemorrhoids
Goiter and other thyroid
Other
3,228
2,612
2,503
2,233
2,800
2,061
1 ,670
1 ,4 4 7
1 7 ,5 5 2
All other
Skin diseases
Diseases of ear and mastoid process
Miscellaneous circulatory diseases
Diseases of eyes
General, not appearing above
Homicides and suicides, including
attempted
Ill-defined and unknown
4 ,9 0 2
4 ,5 8 9
5 ,0 2 5
2 ,1 5 7
759
456
7 ,2 7 7
ILLNESS AND MEDICAL CARE IN RELATION TO ECONOMIC STATUS
The bearing of the health status of an individual on his economic position^
and therefore on his ability to establish and maintain his independence, is indi
cated in the second of the two preliminary reports of the National Health S u m
In the sampled urban population of some two and a quarter million persons in 81
cities, about 40 per cent were found to be members of families existing on annu
incomes of less than $1,000,
Sixty-five per cent were in families with an annua
income of less than $1,500, and 80 per cent in families with incomes of less the
$2,000,
Almost one half of the lowest income class had been in receipt of relit
during the year 1955,
Only one person in five was found in the class with an
annual family income of more than $ 2 ,0 0 0 ,
What are the uses and implications of these figures in an appraisal of
national health, the survey asks?
For those in the lowest income group it is
apparent that inadequate diet, poor housing, the hazards of occupation and the
instability of the labor market definitely create immediate health problems.
W h a t m s the health experience of this group in 1955?
With what success did
families in the class of limited^jHMiaqHMtee income maintain health? the survey
goes on to query.
Its preliminary findings bear on these questions
(S
A table showing the annual frequency of illnesses for one week or longer
by diagnosis, among this same surveyed group of 2,308,588 persons in 81 cities
followsx
Annual Frequency of Illnesses Disabling for One Week or Longer
by Diagnosis.“*'
(2,308,588 persons in 81 cities canvassed in the
National Health Survey, 1935-1936)
Diagnosis
All diagnoses
Infectious and p a r a s i t i c ^
Measles
Mumps
Chickenpox
. Whooping cough
Scarlet fever
German measles
Malaria
Local infection, blood poisoning
Diphtheria
Erysipelas
Typhoid fever
Smallpox
Oilier
Respiratory (except chronic)
Influenza and ^grippe
Tonsillitis -2/
Coryza (head colds) and colds
unspecified
Pneumonia
Bronchitis and chest cold
Throat affections except of tonsils
Pleurisy
Digestive (except chronic)
Appendicitis
Indigestion, and allied conditions
Diarrhea, enteritis, and colitis
Diseases of mouth, teeth and gums
Puerperal state
Live births
Still births and abortions
Complications of childbirth and pregnancy
Accidents
Automobile
Other
Chronic diseases (disabling for
a week or more)
Heart disease and arteriosclerosis
Rheumatism
Nervous diseases
Orthopedic conditions
Nephritis and other kidney diseases
Gall bladder diseases
Tumors, non-malignant or unspecified
Asthma and hay fever
Annual cases
disabling for one week
Number
or longer
of eases
per 10 0 0 persons______ __
172.4
397,978
8.9
5.6
4.5
3.2
20,483
12,958
10,562
7,430
6,482
2,927
1,867
1,782
2 .8
1.3
0 .8
0 .8
0.4
0 .2
0 .2
0.1
242
0 .8
18.1
9.9
7.2
4.7
3,3
2.3
1.0
5.1
3.0
0.9
0.5
11,766
6,844
1,971;
1 222
,
;
0.3
32,144
2 , 438;
694j
3.2
12,5
7 , 480|
28,91!
13.9
1 .1
8.5
5.9
5.5
2 .6
2.5
2 .2
2 .0
1.4
19 , 71«
13,608
12,623
5,744
5,108]
4,575
3,500
X/ t -P an' illnp.R.q was due to more than one cause, the classification is accord^
the condition which was of longest duration.
con^
b/Syphilis and gonorrhea omitted because of incompleteness of reports of sucn
tions in a house-to-house canvass.
hllng
c/Includes tonsillectomies, infected tonsils, adenoids, and quinsy, if disaoi
for week or more.
- 5 -
over the entire lifetime of the surveyed population*
On the basis of rates shown in the following table, applied to the total p<J
lation of the country, it is estimated that close to 2 0 0 ,0 0 0 persons are handicap®
by loss of feet or legs, hands or arms; permanent crippling of these major member!
occurs in an estimated total of 1 ,0 0 0 ,0 0 0 persons.
back seriously disable some 500,000 persons.
Permanent injuries to spine o ®
About 500,000 people in the country I
are estimated to be blind in one eye, or totally blind, on the basis of the survey
oWirUTjfrC>t>
findings;
are totally deaf and about 75,000 persons suffer from the
double handicap of being both deaf and dumb.
These figures represent minimum
estimates of the number of persons who are inferentially hampered in carrying out
the normal pursuits of both their personal and economic lives.
Prevalence of Gross Impairments, Disabling and Non-disabling
(2,508,588 persons in 81 cities canvassed in the
National Health Survey, 1935-36)
Impairments
Orthopedic
Lost members
Feet or legs
Hands or arms
Fingers
Toes
Impaired members
Spine, back, other trunk
Feet or legs
Hands or arms
Other
Rate per 1000 persons
19.6
7.4
1.0
0.5
5.4
0.5
12.2
2.5
6.4
1 #6
1.7
$ye
Blind in one eye
Partial blindness
Blind in both eyes
Ear
Partial deafness
Deaf and dumb
Total deafness
5.4
2.0
0.9
11.9
0.6
0.5
- 4 -
minimum terms these estimates sharply mark only the major problems which must bj
annually by the combined efforts of the physician, the health officer, the welfj
administrator, the bedside or public health nurse, and other medical and
p u b lic
health workers*
Severity. -
Nearly one and one-quarter billion days are lost from work at
home or in industry or from school each year in the United States because of il]^
nesses which disable for one week or longer, says this survey.
On a per capita
basis, therefore, every man, woman, and child in the nation*s total population
would suffer 1 0 days of incapacity annually if these days were equally distribu^
Bearing in mind that these figures do not take into account any disability resu])
ing from illnesses or injuries for a shorter period than one week, the total
economic loss to these average individuals, expressed in loss of wages and cost
an
of medical care, mounts to/enormous though incalculable figure.
Although the frequency of illness is high in childhood, the report points
out, the amount of disability occasioned by these illnesses under the age of
fifteen years is somewhat under one week per year.
The average duration per
case is low compared with that for the average adult case.
From the ages
of 15 to 64, adults may expect to be disabled approximately 9 days per year,
while the average old person is faced with nearly 5 weeks of incapacity.
Again, the survey states, these figures are averages based on all illnessej
disabling for a week or more without consideration of eause.
widely in severity.
Diseases vary
The average case of disabling illness due to a chronic dis
ease results in 158 days of disability — almost two and a half times as long as
the
average
duration per case of illness of all causes.
And two and one half
million people, or 42$, of the six million daily sick in the United States are
sufferihg from a chronic disease.
/
AFTER-EFFECTS OF DISEASE AMD ACCIDENT
Results of this survey as to the prevalence of orthopedic conditions are o
particular interest, according to this report, because there is little infor®a-|
tion available with relation to this subject concerning the general population*
As both disabling and non-disabling gross permanent impairments were recorde
the figures presented constitute the total permanent effect of disease and ^
,
j
- 3 -
The report considers accidents as a cause of disability.
Accident statistic
obtained in the survey will be further analyzed according to place of occurrence
home, occupational, street or other public place 5 and according to cause such as
automobile, falls, and burns.
The findings will be of use in studying the relatiJ
importance of various hazards and planning safety programs, and will be made avail
able at a later date.
This survey reveals the nature of these illnesses disabling on the day of the
census.
Two and one half million of the six million sick were disabled by a
chronic disease of the heart or circulatory system, rheumatism, arteriosclerosis
(hardening of the arteries), inflammation of the kidneys, cancer or other tumor,
diabetes, asthma, tuberculosis, stomach ulcer, gall bladder trouble, a nervous
disease, or a permanent impairment caused by prior disease or accident.
Current
injuries due to accident disabled one-half million persons; one and one half mil
lion were incapacitated by the acute respiratory diseases,-influenza, grippe,
pneumonia, cold or tonsillitis; the acute infectious diseases accounted for a
quarter million of the sick (predominantly children).
Approximately the same
number was disabled by acute diseases of the stomach and liver, and appendicitis.
The remainder were found to be suffering from other acute diseases.
FREQUENCY AND SEVERITY OF DISABLING ILLNESS
IN A 12 MONTH PERIOD
Frequency — Illnesses which disabled for at least one week during th e twelve
months preceding the survey date occurred at a rate of 172 per 1 ,0 0 0 persons can
vassed, or over 17 per cent.
Taken in relation to the country as a whole, this
rate gives an estimated total of 2 2 million illnesses disabling for a week or
longer in 1935, the approximate survey year.
Compared with the deaths reported
as occurring during this period, this 7-day-minimum disabling illness rate shows
16 such cases of illness for every death reported, a figure making clear the fact
that health problems can in no sense be evaluated by a scanning of mortality
tables.
Furthermore, the report carefully indicates this figure is actually
a minimum, since illnesses of a shorter duration than seven days are not included«
Again applying these figures to cities whose populations are stated in round number«
800 sUOh cases occur annually in the small town of 5,000 population; 17,000 i& a
medium sized city of 1 0 0 ,0 0 0 persons; and 8 6 ,0 0 0 in a large city of 5 0 0 ,0 00 . &1
%
-
-
This survey, characterized as a "nation-wide family canvass of sickness in I
relation to its social and economic setting," was made in the fall and winter ofl
1935-1936, with the aid of grants from the Works Progress Administration,
DesiJ
to be the most sweepingly comprehensive picture of the nation *s illness and disal]
bility ever drawn, and at the same time delineate that picture in relation to thj
economic status of the families and individuals so
surveyed, this National
Health Inventory covers the prevalence and annual frequency of acute and chronic!
disabling illness,including the annual time lost from usual activities, and the!
receipt or lack of medical care in relation to income, employment status, occupafl I
tion, age, sex and color.
The survey also sets down in tangible form much in-
formation which is of great intrinsic utility, aside from its bearing on the
variation in the extent of illness, such as the age, sex, and racial distributiol
of the population, data not available for the total population since the census oi
1930. Equally as important are the revelations with respect to the occupational I
and employment distribution of the population, as well as the size, composition!
income and relief status of families, with various indices of the standards of I
living of the surveyed households.
The principal purposes of the study, according to the report, are seven ini
number! (l) to determine the incidence of serious disabling illnesses, defined I
as those lasting "seven consecutive days or longer" during a twelve-month periol
in a nationally representative population; (£) the duration of such illnesses,* I
'r f
(3) the medical care received; (4) the„ prevalence of non-disabling chronic dis-|
eases, orthopedic defects, blindness and deafness; (5) the prevalence of disabll
illness as manifested on the day of the visit; (6 ) the utilization of the facill
ties of health departments, hospitals, and clinics; and (7) the relation between
disease and social, economic and other factors, such as income, employment statj
occupation, and housing conditions.
These data, presented against an economic
and social background, throw a great deal of light on many pressing current pr°
There is considered, as an example, the part played by illness in unefflpi°r
ment and dependency.
The present bulletins and others soon to be made public
consider illness and receipt of medical care by the "medically indigent" aa«
the public assistance population - the relief group, the aged, the blind, ana
crippled and dependent children.
;.a.M
Treasury Department
TJ. S. Public Health Service
Washington
v^Ce
FOR RELEASE, MORNING NEWSPAPERS,
Monday, January 17. 1958»
Six million of the country*s one hundred and thirty million men, women and
children are unable to work, attend school, or pursue other usual activities each
day during the winter months on account of illness, injury or a gross physical
impairment resulting from disease or accident, according to the preliminary re
port of a national health
taken by the U.
/ublic Health Service.
This report was placed in the hands of a list of state and local health officers
and made public today*
In the light of current attempts to determine the extent and causes of un
employment, and its relation to inadequate food, shelter and medical care, furthj
revelations of this survey
should be of extreme importance, officials of the
Public Health Service said today*
Applied to communities of varying size, the report states, the results of
j
these tabulations would mean 2 0 0 persons sick each winter day in a town of 5,000
population, 4,500 sick in a medium sized (1 0 0 ,0 0 0 population) city, and 22,0 00
sick in a large city of 500,000 persons.
These figures relate to persons of all
ages, but the proportion of those sick on an average winter day was found to v;
widely with age.
One in every 8 individuals 65 years old or over was shown to 1
disabled on the day of the survey, with 1 in 40 being the proportion of sick in
the age group 15-24.
The adult group 25-64, and the childhood age group of 15
years and younger showed approximately the s a m J ^ S ^ ^ o f ^ l l n e s s - 1 in 24*
The sampling of the population on which the figures are based, this report
states, was taken in 84 cities and comprised 740,000 families including approxi|
mately 2,660,000 individuals.
These 84 cities in the urban sample were distri
buted among 19 States regarded as typical of four main geographic regions East, Central, South and West.
The plan of the cities to be studied was desigij
to result in (l) a population distributed according to geographic area in apPri
mately the same proportion as the general urban population in 1950, and
(2)
inclusion of cities distributed among four different size groups! 5 0 0 ,0 0 0 pop a
tion and over; 100,000 to 500,000; 25,000 to 100,000; and less than 25,000.
25 rural counties studied are located in three States and, the report states,
are not representative of the whole rural population for that reason.
•^ie
TREASURY DEPARTMENT
U. S. Public Health Service
Washington
Press Service
N o . 12 - 13
FOR RELEASE, MORNING NEWSPAPERS,
Monday. January 17, 193S .
Six million of the country1s one hundred and thirty million men, women
and children are unable to work, attend school, or pursue other usual
activities each day during the winter months on account of illness, injury
or a gross physical impairment resulting from disease or accident, according
to the preliminary report of a national health survey taken by the United
States Public Health Service,
This report was placed in the hands of a list
of state and local health officers and made public today.
. In the light of current attempts to determine the extent and causes of
unemployment, and its relation to inadequate food, shelter and medical care,
further revelations of this survey should be of extreme importance, officials
of the Public Health Service said today.
Applied to communities of varying size, the report states, the results
of these tabulations would mean 200 persons sick each Winter day in a town
of 5,000 population, 4,500 sick in a medium sized (100,000 population) city,
and 22,000 sick in a large city of 500,000 persons.
These figures relate to
persons of all ages, but the proportion of those sick on an average winter
day was found to vary widely with age.
One in every 8 individuals 65 years
old or over was shown to be disabled on the day of the survey, with 1 in 40
being the proportion of sick in the age group 15-24*
The adult group 2 5-64,
and the childhood age group of 15 years and younger showed approximately the
same proportion of illness - 1 in 24*
The sampling of the population on which the figures are based, this
report states, was taken in 84 cities and comprised 740,000 families in
cluding approximately 2,660,000 individuals.
These 84 cities in the urban
.
- 2 -
sample were distributed among 19 States regarded as typical of four main
geographic regions - East, Central, South and West#
cities to be studied was designed to result in (1)
The plan of the
c. population distributed
according to geographic area in approximately the same proportion as the
general urban population in 1930, and (2) the inclusion of cities dis
tributed among four different size groups: 500,000 population and over;
100,000 to 500,0005 25,000 to 100,000; and less than 25,000.
The 23 rural
counties studied are located in three States and, the report states, are
not representative of the whole rural population for that reason.
This survey, characterized- as a- »nation-wide family canvass of sickness
in relation to its social and economic setting,» was made in the fall and
winter of 1935-1936, with the aid of grants from the Works Progress Adminis
tration.
Designed to be the most sweepingly comprehensive picture of the
nation’s illness and disability ever drawn, and at the same time delineate
that picture in relation to the economic status of the families and indivi
duals so surveyed, this National Health Inventory covers the prevalence and
annual frequency of acute and chronic disabling illness, including the annual
time lost from usual activities, and the receipt or lack of medical care in
relation to income, employment status, occupation, age, sex and color.
The
survey also sets down in tangible form much information which is of great
intrinsic utility, aside from its bearing on the variation in the extent
of illness, such as the age, sex, and racial distribution of the population,
data not available for the total population since the census of 19 3 0 ..
Equally as important are the revelations with respect to the occupational
and employment distribution of the population, as well as the size, compo
sition, income and relief status of families, with various indices of the
standards of living of the surveyed households.
- 3The principal purposes of the study, according to the report, are
seven in number: (1) to determine the incidence of serious disabling ill
nesses, defined as those lasting »seven consecutive days or longer» during
a twelve-month period in a nationally representative population; (2) the
duration of such illnesses; (3) the medical care received; (4) the preva
lence of non-disabling chronic diseases, orthopedic defects, blindness and
deafness; (5) the prevalence of disabling illness as manifested on the day
of the visit; (6) the utilization of the facilities of health departments,
hospitals, and clinics; and (7) the relation between disease and social,
economic and other factors, such as income, employment status, occupation,
and housing conditions*
These data, presented against an economic and
social background, throw a great deal of light on many pressing current
problems•
There is considered, as an example, the part played by illness in
unemployment and dependency*
The present bulletins and others soon to be
made public consider illness and receipt of medical care by the »medically
indigent» and the public assistance population - the relief group, the aged,
the blind, and crippled and dependent children*
The report considers accidents as a cause of disability*
Accident
statistics obtained in the survey will be further analyzed according to
place of occurrence - home, occupational, street or other public place; and
according to cause such as automobile, falls, and burns*
The findings will
be of use in studying the relative importance of various hazards and plan
ning safety programs, and will be made available at a later date*
This survey reveals the nature of these illnesses disabling on the
nay of the census*
Two and one half million of the six million sick were
disabled by a chronic disease of the heart or circulatory system, rheumatism,
~ 4 ~
arteriosclerosis (hardening of the arteries), inflammation of the kidneys,
cancer or other tumor, diabetes, asthma, tuberculosis, stomach ulcer, gall
bladder trouble, a nervous disease, or a permanent impairment caused by
prior disease or accident*
Current injuries due to accident disabled one-
half million persons; one and one half million were incapacitated by the
acute respiratory diseases,-influenza, grippe, pneumonia,
cold or tonsillitis;
the acute infectious diseases accounted for a quarter million of the sick
(predominantly children) •
Approximately the same number was disabled by
acute diseases of the stomach and liver, and appendicitis.
The remainder
were found to be suffering from other acute diseases*
FREQUENCY AND SEVERITY OF DISABLING ILLNESS
IN A 12 MONTH PERIOD
Frequency - Illnesses which disabled for at least one week during
the twelve months preceding the survey date occurred at a rate of 172 per
1.000 persons canvassed, or over 17 per cent.
Taken in relation to the
country as a whole, this rate gives an estimated total of 22 million ill
nesses disabling for a week or longer in 1935, the approximate survey year.
Compared with the deaths reported as occurring during this period, this
7-day minimum disabling illness rate shows 16 such cases of illness for
every death reported, a figure making clear the fact that health problems
can in no sense be evaluated by a scanning of mortality tables.
Further
more, the report carefully indicates this figure is actually only a minimum,
since illnesses of a shorter duration than seven days are not included.
Again applying these figures to cities wrhose populations are stated in round
numbers, 800 such cases occur annually in the small town of 5,000 population;
17.000 in a medium sized city of 100,000 persons; and 86,000 in a large city
o f $ 0 0 ,0 0 0 .
I n m inim um ‘t e r m s
th ese
e stim a te s
p ro b lem s w h i c h m u s t b e m e t a n n u a l l y b y t h e
the h e a l t h o f f i c e r ,
th e w e lfa r e
s h a r p l y m ark
o n ly th e m ajo r
co m bin ed e f f o r t s
a d m in istra to r,
th e
b e d sid e
o f th e
p h y sicia n
or p u b lic h e a lth
nurse, a n d o t h e r m e d i c a l a n d p u b l i c h e a l t h w o r k e r s .
S e v e rity . a t home o r i n
N e a rly
in d u stry
one and o n e - q u a r t e r b i l l i o n
o r fro m
of i l l n e s s e s w h ic h d i s a b l e
per c a p i t a
b a sis ,
fo r
th e re fo re ,
w ere e q u a l l y d i s t r i b u t e d ,
sh o rte r p e r io d
in d iv id u a ls,
expressed
p o in ts
o u t,
th e
th e
says
in
th e
lo ss
o f w ages and c o s t
d u ra tio n p e r
lo w com pared w i t h
9 days p e r y e a r ,
is
h ig h
take
fo r a
average
care,
ch ild h o o d ,
by th ese
m ou n ts t o
th at
fo r
a d u l t s m ay e x p e c t
w h iT e-.,.th e a v e r a g e
under th e
The a v e r a g e
th e. a v e ra g e
to be d is a b le d
o ld p e rso n i s
th e r e p o rt
illn e s s e s
som ewhat u n d e r one w e e k - p e r y e a r .
6A ,
th ese days
do n o t
th ese
o f m e d ic a l
in
o cca sio n e d
is
o f 1$ t o
th e n a tio n ’ s
or in ju r ie s
to
On a
fig u re .
a ge o f f i f t e e n y e a r s
From t h e a g e s
in
because
survey.
fig u re s
eco n o m ic l o s s
freq u en cy o f i l l n e s s
is
th is
and c h i l d
fro m i l l n e s s e s
to tal
amount o f d i s a b i l i t y
case
oh l o n g e r ,
o f in c a p a c it y a n n u a lly i f
re su ltin g
an e n o r m o u s t h o u g h i n c a l c u l a b l e
A lth o u g h
one w eek
10 d a y s
t h a n one w e e k ,
fro m w ork
th e U n ite d S t a t e s
B e a r i n g i n m in d t h a t t h e s e
in to a c c o u n t a n y d i s a b i l i t y
lo st
sch o o l each y e a r in
e v e r y m a n , w o m an ,
t o t a l p o p u la t io n w o u ld s u f f e r
days a re
faced w ith
a d u lt
case.
a p p ro x im a te ly
n e a rly
5 w eeks
of in c a p a c ity .
A g a in ,
illn e s s e s
th e
survey s ta te s ,
d is a b lin g
fig u re s
f o r a w e e k o r m ore w i t h o u t
D ise a se s v a r y w i d e l y i n
to a c h r o n ic d i s e a s e
h a l f tim e s a s lo n g a s
se v e rity .
re su lts
th e
are
in
The a v e r a g e
138 d ays
average
And tw o a n d o n e h a l f m i l l i o n
in th e U n ite d S t a t e s
th ese
s u ffe rin g
averages
based
c o n sid e ra tio n o f
case
case
o r A2 %9 o f t h e
-
on a l l
cause.
o f d is a b lin g
of d is a b ility
d u ra tio n p er
p eo p le ,
are
illn e s s
due
a lm o s t tw o an d a
of illn e s s
s ix m illio n
fro m a c h r o n i c d i s e a s e .
of a ll
d a ily
causes
sick
- 6 -
A F TER -EF F ECTS OF DISE A SE AND ACCIDENT
R e s u lts
o f th is
su rvey as to
are o f p a r t i c u l a r i n t e r e s t ,
little
in fo m a tio n
As
to
th e
th is
r e la tio n
both d is a b lin g
im p a ir m e n ts w e r e r e c o r d e d ,
perm anent e f f e c t
a c c o rd in g
a v a ila b le w ith
general p o p u l a t i o n .
th e p re v a le n ce
to
o f o rth o p e d ic
rep o rt,
th is
because
su b je ct
and n o n - d i s a b l i n g
fig u re s
p resen ted
o f d is e a s e and i n j u r y
over th e
th ere
is
co n ce rn in g th e
gross
c o n stitu te
e n tire
co n d itio n s
perm anent
th e t o t a l
life tim e
o f th e
surveyed p o p u l a t i o n .
On t h e
b a sis
to ta l p o p u la tio n
o f rates
o f th e
show n i n
co u n try,
persons a r e h a n d i c a p p e d b y l o s s
it
th e
is
fo llo w in g
e stim a te d t h a t
of fe e t
or le g s ,
c r i p p l i n g o f t h e s e m a j o r m em bers o c c u r s i n
persons.
P erm anent i n j u r i e s
300,000 p e r s o n s .
About
blin d i n
or t o t a l l y
about
one e y e ,
65,000
are t o t a lly
dou ble h a n d i c a p
liv e s.
sp in e
or back
5 0 0 ,0 0 0 p e o p l e
b lin d ,
in
on t h e
d e a f and a b o u t
th e
o f th e
out th e
hands
se rio u sly
75,000
o f th e
persons
These
200,000
to
to ta l
of
d is a b le
o f both t h e i r
1 , 000,000
some
e stim a te d to be
survey fin d in g s
su ffe r
fig u re s
;
fro m t h e
represen t
n u m b e r o f p e r s o n s who a r e i n f e r e n t i a l l y
norm al p u r s u it s
th e
o r arm s5 perm anent
co u n try are
b a sis
a p p lie d to
c lo s e
an e s tim a te d
o f . b e i n g b o t h d e a f a n d d um b.
minimum e s t i m a t e s
in c a r r y i n g
to
ta b le ,
ham pered
p e r s o n a l and eco n o m ic
- 7 *
Prevalence of Gross Impairments, Disabling and Non-disabling*
(2,308,588 persons in 81 cities canvassed in the
National Health Survey, 1935-36)
Impairments
Orthopedic
Lost members
Feet or legs
Hands or arms
Fingers
Toes
Impaired members
Spine, back, other trunk
Feet or legs
Hands or arms
Other
Eye
Blind in one eye
Partial blindness
Blind in both eyes
Ear
Partial deafness
Deaf and dumb
Total deafness
Rate per 1000 persons
19.6
7*41.0
0.5
5.4
0.5
12*2
2.5
6.4
1.6
1.7
3.4
2*0
0*9
11.9
0.6
0.5
A table showing th© annual frequency of illnesses for on© week or longer
by diagnosis, among this same surveyed group of 2,308,588 persons in 81 cities
follows t
Annual Frequency of Illnesses Disabling for One Week or Longer
by Diagnosis*®/
(2,308,588 persons in 81 cities canvassed in the
National Health Survey, 1935-1936)
Annual cas es
disabling for one week
or longer
_per 1000 persons
Diagnosis
All diagnoses
u n sp e cifie d
Pneumonia
B ro n c h itis
and c h e s t
c o ld
Throat affections except of tonsil:
PI eurisy
D ig estive ( e x c e p t c h r o n i c )
A p p e n d ic itis
I n d ig e s t io n , and a l l i e d c o n d i t i o n s
D ia rrh ea , e n t e r i t i s , and c o l i t i s
D i s e a s e s o f m o u t h , t e e t h a n d gums
P u e rp e ra l s t a t e
L iv e b i r t h s
S till b irth s
C o m p lica tio n s
,/
and a b o r t i o n s
of
c h ild b irth
172*4
397,978
8.9
5.»6
4 05
3.2
2.8
1.3
0.8
0.8
0.4
0.2
0.2
0.1
20,483
12,9 50
10,362
7,430
6,482
2,927
1,867
1,782
840
436
353
242
1,929
CO
•
o
Infectious and parasitici/
Measles
Mumps
Chickenpox
bho-O'ping cough
Scarlet fever
German measles
Malaria
Local infection, blood poisoning
Diphtheria
Erysipelas
Typhoid fever
Smallpox
Other
Respiratory (except chronic)
Influenza and grippe
Tonsillitis 2/
Coryza (head colds) and colds
and p r e g n a n c y
Number
of cases
18.1
9.9
41,752
22,855
7.2
4.7
3.3
2.3
1.0
16,708
10,935
7,674
5,398
2,325
5.1
3.0
0.9
0.5
11,766
6,844
1,971
13.9
1.1
0.3
32,144
2,438
694
1,222
illness was due to more than one cause, the classification is according
condition which was of longest duration.
t i o u s s°no]"rhea ^mi-bbod because of incompleteness of reports of such cor
ns m a house-to-house canvass.
* forsook “
ro°°t0mieS’
tonsils« adenoids, and quinsy, if disabling
Annual cases
d is a b li n g f o r one w eek
Number
or lo n g er
o f cases
■__________ ____ ____ ____ p e r 10 0 0 p e r s o n s _______ _____
(C o n tin u e d )
Diagnosis
___________________
Accidents
Automobile
O th er
3C2
12.5
7,480
28,917
8.5
5.9
5.5
2.6
2.5
2.2
2.0
1.4
1.4
1.1
1.0
1.0
19,710
13,609
12,627
5,868
5,744
5,108
4,573
3,300
3,228
2,613
2,303
2,233
1 .0
0.9
0.7
0.6
7.6
2,200
2,061
1,670
1,447
17,552
■2.1
1*9
1.3
0.9
0.3
4,902
4,389
3,025
2,157
739
0.2
3.2
436
7.277
Chronic diseases (disabling for
a vreek or more)
E cart d i s e a s e and a r t e r i o s c l e r o s i s
Rheumatism
Nervous diseases
O rth o p ed ic
c o n d itio n s
Nephritis and other kidney diseases
G all b l a d d e r d i s e a s e s
Tum ors, n o n - m a l i g n a n t
Asthma a n d h a y f e v e r
or u n sp e c ifie d
T u b e r c u lo s is , a l l fo rm s
S in u sitis
H e r n ia
U lce r o f s t o m a c h o r duodenum
Cancer
D ia b etes
H em o rrh o id s
G o ite r and o t h e r
O th er
•%
th y ro id
'■
A ll o th er
S k in d i s e a s e s
D ise ase s o f oar and m a s t o id p r o c e s s
Mis c e l l o j i e o u s c i r c u l a t o r y d i s e a s e s
D iseases o f eyes
G en eral, n o t a p p e a r in g ab o ve
H o m ic id e s a n d s u i c i d e s , i n c l u d i n g
attem p ted
Ill-defined and unknown
10
-
ILLNESS AND MEDICAL CARE IN RELATION TO ECONOMIC STATUS
The bearing of the health status of an individual on his economic position,
andvtherefore on his ability to establish and maintain his independence, is
indicated in the second of the two preliminary reports of the National Health
Survey*
In the sampled urban population of some two and a quarter million per
sons in 81 cities, about 40 per cent were found to be members of families •
existing on annual incomes of less than $>1,000*
Sixty-five per cent were in
families with an annual income of less than $1,500, and 80 per cent in families
with-incomes of less than $2,000,
Almost one-half of the lowest income class
had been in receipt of relief during the year 1935*
Only one person in five
was found in the class with an annual family income of more than $2,000*
What are the uses and implications of these figures in an appraisal of
national health, the survey asks?
For those in the lowest income group it is
apparent that inadequate diet, poor housing, the hazards of occupation and the
instability of the labor market definitely create immediate health problems.
What was the health experience of this group in 1935?
With what success did
families in the class-of limited income maintain health? the survey goes on to
query.
Its preliminary findings'bear* on thoso ""quoptions•
11
R e s u lts
is h ig h e s t
of e a rlie r
am ong t h e
p u b lic b y t h e
60 p e r c e n t
o f th e
h ig h est
r e lie f
of
o ne w e e k o r
le v e l
the r e l i e f
(in co m e
fo r th e
h ig h e s t
of t h is
excess
part
th e ir
d ue t o
ch ro n ic
p la y e d b y
illn e s s
d is a b ility ,
in o o m es
le ss
w o rk w a s
of
Loss
o ne
20 f a m i l y
a b u r d e n on wage
ca u sin g
In r e l i e f
h ead s was
earn ers
of
h igh c o n c e n t r a t i o n among t h e
showed
a g a in s t th e
on r e l i e f
w ere
h ig h e r
rate
d is
and
-ju st a b o v e
th e
low er th a n
th an th e
rate
o u t , w i t h tho m a jo r p a r t
dependency is
in ca p a cita te s
su rvey re v e a ls
so
fa m ilie s ,
u n a b le
illn e s s ,
to
report
in
250
se e k in g w ork b ecau se
fa m ilie s
d is a b le d
q u ite
w ith
th at
s h a r p ly p o in ts
s e e k w ork b eca u se
th e re fo re ,
th is
o n l y o ne
in n o n - r e lie f
lo w in co m e f a m i l i e s
d ep en d en t.
earn er,
th a t w h ile
c h ro n ic a lly
th e
i n d i c a t e d b y the
th e wage
in co m e g r o u p w as n o t
i n 33 f a m i l y h e a d s
of e m p lo y a b ility th ro u gh
illn e s s e s
an i l l n e s s
p o in ts
t h a n $ 1,0 0 0 a n n u a l l y was
im p o ssib le *
one i n e v e r y
in
illn e s s
c o m fo rta b le
of ch ro n ic
o c c u r r e d a m o ng t h e
in fa m ilie s
17 per cen t
report
w a s am ong f a m i l i e s
i n b o t h th# m id d le
e x p e rie n c e d
was
it
illn e s s e s .
A c c o rd in g ly th e
in th e
persons
th e
m onth p e r i o d w as n e a r l y
persons
person
illn e s s
d a t a now made
p o p u la tio n a s
tw o
of
w h ich d is a b le d
and c h r o n ic
r e lie f
every
th e
th an
illn e s s e s
A g a in ,
rate
c la ss,
ex ten t t o w h ich d i s a b l i n g
fa m ily h eads
c la ss*
fre q u e n cy
in th e
illn e s s
cen t,
th e
u n d er $ 1,0 0 0 )
incom e
report s t a t e s *
in
And a l t h o u g h
p o p u la tio n ,
of
A cu te
lo n g e r f o r
groups*
c o n firm e d
on r e l i e f
o f 47 p er
cent
incom e
is
th e
d u rin g a tw e lv e
and o v e r *
87 p e r
sh o w n t h a t
The r a t e
lo n g er
an e x c e s s
h ig h e st
in co m e
The
survey.
o f $ 3,0 0 0
group w it h
a b led f o r
and t h i s
one w e e k o r
th e h i g h e x c e s s
rate
have
h i g h e r am ong f a m i l i e s
w ith in co m es
r e lie f
poor,
present
in d iv id u a l f o r
surveys
out,
of d is a b ility .
a p p a re n tly p la c e s
w h ich r e s u l t s
in t h e ir
Analyzing the figures showing the frequency and severity (i.o* the
d u ra tio n ) of illness in the surveyed population also brings out what this
report calls ’’the best single index of the annual burden of illness•”
Not only do relief and low income families experience more 'frequent ill
ness than their more fortunate neighbors, but their illnesses are of long
er duration,.
This duration of disabling chronic illness among the relief
families was 63 per cent longer than it was in the group with 13,000 and
over.
Coupled with the higher frequency of illness in this relief group,
this gives rise to an annual per capita volume of disability within the
group that is throe times as great as among the upper income families 12 days as compared with 4 days per person.
Alto, the non-relief group
with an inc ome unde r $1 ,000 showed a volume of disability over twice
that in the highest income group; the families with incomes between $1,000
and $2,000 showed a 20 per cent excess*
The survey's revelations continue by indicating clearly to what ex
tent this great preponderance of illness among the lower economic groups
is cared for or neglected under the headings (1) attendance by a physician,
(2) nursing care (visiting and private), and (3) hospital care - all in
^elation to family income*
In this same 81-city survey comprising over
two and a quarter million persons, the proportion of cases of disabling
illnesses receiving no care from a physician was 17 per cent for families
with incomes of £3,000 and over, but was 30 per cent among relief families
and 28 per cent for non-relief families with incomes under $1,000*
But
a more marked deficiency is indicated, the report stresses, when the com
parison is made on' the basis of the volume of service received per case
of disabling illness (attended and nGt attended)*
In a surveyed population
- 13 of over a quarter million persons in 8 large cities, the average case of
disabling illness in families with incomes of £3,000 and over received
5,7 calls from a physician, compared to only 3*9 calls per case among
families on relief.
This represents the upper income families as receiving
46 per cent more service per illness than the individuals in the lower
economic brockets •
It must be borne in mind when interpreting these figures, states the
report, that among the surveyed relief families there was a relatively
large volume of medical care provided with the aid of Federal relief funds
in 1935, the approximate survey year.
In the fall of that year Federal
subsidies for medical relief were discontinued - so that, consequently,
a re-survey of conditions among these individuals would in all probability
show a marked increase of unattended cases.
Approximately 1 per cent of disabling illnesses among the surveyed
relief population received bedside care from a private duty nurse as
against 12 per cent in families with incomes of £3,000 and over.
As was
to be expected, a higher proportion of illnesses among persons on relief
received care from a visiting nurse - 13 per cent as against 3 per cent
for the higher income families.
However, the report states, this higher
volume of visiting nurse care received by relief and low income families
in no sense compensates for the relatively low volume of continuous bed
side nursing care, a type of nursing service practically mandatory in
certain severe types of illness.
Hospitalization of Disabling Illnesses. - On the basis of hospital
cases per person (both sick and well) the surveyed relief papulation re
ceived hospitalization at an annual rate of 63 cases per 1000 persons,
14
as against a rate of 49 per 1000 persons in families with incomes of $3,000
and over.
However, the report indicates, when hospital cases were related
to the number of disabling illnesses* it was found that the proportion
of hospitalized cases among the relief population was lower than that in
families with incomes of $3,000 and oVeh*
The lowest proportion of these
oases was in the non-relief families with incomes under $1,000, in which
group 24.per cent of all disabling illnesses were hospitalized as against
30 per cent for families in the highest income class.
Preliminary analysis of data on hospital care according to the size
of the surveyed cities indicates clearly that this relatively large
average volume received by relief and lop income families prevails only
in the large cities - 100,000 population and over.
In cities with a
population of 25,000 - 100,000, 20 per cent of the disabling illnesses
in the relief population were hospitalized, compared with a ratio of 2©
per cent for families in the highest income class.
In the small citios
of less than 25,000 population the deficiency of hospitalization for the
relief group was even more marked - only 15 per cent of the disabling
illnesses receiving hospitalization compared with 29 per cent for families
with incomes in excess of $3,000.
These results reflect the greater
inadequacy of free hospital facilities in the smaller communities, says
the U. S. Public Health Service in this survey, and cites twoffactors
which should be borne in mind when considering this phase of medical care.
Over 65 million people in the United States live in communities of 10,000
population or less or in rural areas - and 18 million people live in
counties in which no hospitals of' any kind exist.
Consequently the pro
blem of adequate hospitalization for the lower income groups in this vast
15 number of communities of small population presents a problem of veryserious proportions.
SUIvMARY AND CONCLUSIONS
On an average winter day a total of six million men, women and
children are unable to work, attend school, or pursue other usual
activities on account of illness, injury, or a gross physical impairment
resulting from disease or accident.
About two and a half million people, or 42 per cent of these six
million, are suffering from a chronic disease.
During a year, for every death reported there occur on the average
16 cases of illness disabling for a week or longer - indicating that
health problems can in no sense be evaluated by the sole consideration of
the community death rate.
On a per capita basis, every man, woman and child in the nation*s
population suffers at least 10 days of incapacity annually from illness
lasting one week or longer.
Two persons on relief in 1935 (the approximate survey year) were dis
abled for one week or longer for every person disabled in both the middle
and highest income groups.
Chronic disabling illnesses in the relief population occurred at an
annual rate
class.
higher than that among families in the highest income
The annual days of disability per capita in the relief group was
found to be three times as great as among upper income families.
The non
relief population with an income under $1,000 showed a volume of dis
ability over twice that of the highest income group.
Yet the upper income
families received 46 per cent more care from a physician per case of illness
than persons in the relief group.
16
Only 1 per cent of the illnesses in relief families received bedside
care from a private nurse while 12 per cent received such care in families
with incomes of |3,000 and over.
-oCo-
n
January 15, 1938.
Press Service No.12-14
ïrsasüry d e p a r t m e n t
Washington
HOLD EOR RELEASE — The following is for release ONLY AFTER READING- OE
THIS PARTICULAR DOCUMENT "before the Ways and Means Committee has "begun.
Please guard against premature release, as reading nay "be deferred to
a later date.
STATEMENT OE ROSWELL MAG-ILL, UNDER SECRETARY OE TEE TREASURY,
WITH REESRENCE TO THE REPORT OE THE SUBCOMMITTEE OE THE
WAYS AND MEANS COMMITTEE ON REVENUE REVISION
In his message of April 20, 1937, the President said that there
was "an immediate need for a careful survey of the present tax struc
ture";
and that the Treasury would he prepared "by the following
November to present to the appropriate committees of the Congress in
formation on the basis of which legislation to remedy defects in the
present tax laws might be formulated.
The Treasury had begun the
organization and analysis of information regarding the Eederal tax
system early in 1937.
On account of the important changes which were
made in the revenue laws effective as of January 1, 1936, it was par
ticularly important to assemble data from the 1936 returns, none of
which was available prior to March 15, 1937, and many of which did not
become available until the summer.
In August 1937, the Chairman of the Ways and Means Committee,
Mr. Doughton, designated a subcommittee of nine members to consider
possible changes in the Eederal revenue la.ws.
The subcommittee for
mally met on November 4th and thereafter was in session almost every
day.
The information which the Treasury had collected was laid before
the subcommittee and in addition other information which members of
the subcommittee requested from time to tine during its sessions*
m
H9 H H H
IH I ■'H H
Much of the statistical information is contained in the report of the
subcommittee.
In order that the work of the subcommittee may be
viewed in its proper setting I shall outline briefly the various lines
of investigation which were pursued.
Federal internal revenue tames yielded a total of approximately
$4,600 millions for the fiscal year 1936-37.
The current budget
estimate for the fiscal year 1937**38 is $5*700 millions.
The esti
mated expenditures for 1938 and 1939 exceed the estimated receipts
from existing sources of revenue.
in his message of January 3, 1938:
The President has, therefore, stated
11the total sum to be derived by
the Federal Treasury must not be decreased as a result of any changes
in schedules."
Of the total internal revenues for 1937— 38 a little over 50 per
cent will be produced by the income tax, the estate tax, and the gift
tax, all of which are levied at progressive rates.
The remaining half
of the Federal revenues are produced principally by four groups of
taxes:
The taxes on alcoholic beverages ($614 millions);
taxes ($545 millions);
'the tobacco
the manufacturers1 excise taxes ($458 millions);
and the social security taxes ($721 millions).
Of the manufacturers*
excise taxes the gasoline tax is easily the most important, with a
total yield of approximately $206 millions.
There are, however, a
considerable number of other excise taxes yielding sums which range
from less than $1 million up to $64 millions.
One of the major ques
tions therefore was whether or not relatively greater reliance should
be placed upon the group of taxes levied at progressive rates and
correspondingly less reliance upon the excise taxes levied at flat
rates, "bearing in mind the proposition that the progressive taxes can
be levied in accordance with ability to pay, whereas the latter group
of taxes generally take little account of ability to pay.
A subsidiary
question is whether the number of excise taxes could not be reduced
to advantage, since seme of then yield comparatively small amounts and
their administration is difficult.
1*
Retroactive amendments — When the subcommittee began its ex
ecutive sessions on November 4, 193?, insistent demands were made upon
it and upon the Treasury that the proposed revenue revision should be
limited entirely to the undistributed profits tax and the tax on capital
gains; and that repe.nl or drastic modification of both taxes should be
adopted at the special session retroactive to January 1, 1937.
The
subcommittee early decided that it was unwise to accede to. the pressure
for retroactive legislation for several reasons.
From the first the
subcommittee proceeded on the ba.sis that our revenue laws as revised
should yield as much revenue as the existing tax laws would produce.
Consequently, if any taxes were repealed or modified so as to reduce
their productivity as of January 1, 1937, it would be necessary at the
same time to provide additional taxes to make up the loss.
Since the
greater part of the calendar year of 1937 would have elapsed before
the Congress could adopt new revenue legislation, the result would have
- 4 -
been that business men and other taxpayers who had made their plans in
the light of existing revenue laws would have "been subjected to new
and different tax legislation; which would have imposed a'heavier
liability in spine cases, as well as a lesser liability in others.
The unsettling effect upon business of such a plan of action was ob
vious*
Further, there was no convincing evidence that the operation
of the undistributed profits tax or of the tax cn capital gains had
been a major factor in 'the business recession.
The subcommittee determined, however, to proceed with as much speed
as was consistent with thorough consideration of the difficult, prob
lems presented to it, in order that taxpayers might be fully informed
as early in 1938 as possible of their tax liabilities and of the
relief proposed to be given.
For these reasons, it has not been prac
ticable to engage in a wholesale reform of the entire revenue system.
Accordingly, the subcommittee determined to lay aside for future con
sideration a number of topics which would have delayed the revenue bill
well beyond the first few months of 1838.
be noted at the end of this statement.
Some of these subjects will
The subcommittee has concen
trated its attention upon a series of changes which will relieve many
of the most striking inequities in the present laws.
In particular
the two taxes against which most complaints have been directed, the
undistributed profits tax and the tax on capital gains, have been sub
jected to a thorough review.
2.
Corporation taxes - The first group of changes considered and
adopted by the subcommittee relate to the income tax.
The first matter
- 5 -
to be determined-was whether-the income tax burden is unwisely divided
between corporations and individuals.- At the present time the income
tax is paid' in' approximately equal portions by individuals (estimated
at $1,233V400',000 for 1938) and by corporations (estimated at
$1,183,500,000 for 1938).
In addition, corporations are subjected
to the capital stock tax and excess profits tax which together are
estimated to yield $167,500,000 for 1938.
Although various re
adjustments of the rates applicable to individuals and corporations
respectively might be adopted, the subcommittee concluded that there
was no satisfactory evidence that the tax burden was unfairly dis
tributed as between these two classes of taxpayers.
In other words,
it did not appear to be desirable at this time to shift a part of the
income tax burden from corporation to individuals or vice versa.
Assuming, therefore, that approximately $1,351 million is to be
raised from taxes on corporations (income tax, capital stock tax,
and excess profits tax), the next question is the precise form that
the levies should talee.
Of tho $1,184 million which will be yielded
by the corporation income tax this year, something over$l billion
will be produced by the normal tax and the balance by the undistributed
profits tax.
She capital stock tax and excess profits-tax together
are estimated to yield somewhat more than the
¿"Aids from corporations directly.
undistributed profits tax
It should be borne in mind, however,
that the greater part of the yield of the undistributed profits tax
r 6 -
arises not from payments by corporations directly, but from normal
taxes and surtaxes on individuals on corporate dividends distributed.
Although there was a strong demand for drastic changes in the undis
tributed profits tax and apparently little demand for change
in the
normal tax or in the capital stock tax, it is obvious that the normal
tax in particular has far more revenue importance.
If all corporations reporting taxable income were subjected to a
flat normal tax and no other form of income taxation, the. rate would
have to be approximately 17 percent, in order to ÿrisld the amount of
revenue now being produced by the normal tax and the undistributed
profits tax on corporations.
The rate would have to be fixed at a
still higher figure if the total yield is to equal the present total
yield from the normal tax on corporations and the yield of the un
distributed profits tax from corporations and from individuals a,s
well.
Two fundamental questions are then presented*
First, whether
all corporations should bo taxed at a like rate or whether a lower
rate should be applied to corporations with small incomes?
Second,
should the tax rate on corporations take any account of corporate
distributions in dividends?
Answering the first question, the subcommittee felt, as does
the Treasury, that the rate of tax on corporations with small incomes
may properly be set at a lesser figure than the rate applicable to
corporations with large incomes.
A flat tax rate of 17 percent is
the equivalent of the effective rate applicable to single individuals
with incomes of approximately $45,000.
Corporations with' small in
comes are commonly owned by individuals whose incomes do not approach
this figure.
It seems that a lower tax rate should be soplied to
such corporations than to corporations with large incomes, unless it
bn desired to make impractical or impossible the use of the corporation
by persons with incomes of less than $45f000, and indeed even by those
with incomes far below this level, when the taxes to stockholders on
prospective distributions are taken into account*
To be sure the
stock of some of our largest corporations is widely distributed among
persons with small incomes.
nevertheless, the capacity to pay of
such corporations is not wholly to be judged by the capacity to pay
of the individual shareholders, nor is it entirely clear that corpor
ation taxes are borne by the shareholders in all cases.
After a full
consideration of the relevant data, the subcommittee decided that a
slight graduation in corporation normal taxes wras justified and was
desirable.
The second question is whether the corporation tax rate should
take into account in any way the percentage of its earnings which the
corporation has distributed in the form of dividends,
This subject
was thoroughly canvassed in 1936 when the undistributed profits tax
was first adopted, but the subcommittee reexamined it on this occasion
with a great deal of care in the light of the one year*s experience
with the tax.
* '<«* 8 Under our income tax system individual proprietors and members of
partnerships are taxable on the current earnings of their businesses
whether or not they receive those earnings directly in cash or otherwise.
In the case of an individual proprietorship the amount of the net income
is determined by the allowance of the various deductions provided for in
the statute and the balance thus arrived at less the statutory exemptions
is taxed to the individual*
In the case of the partnership the net in
come of the partnership is similarly determined and each partner is taxed
upon his pra rata share thereof whether distributed or not.
Ho statutory
deduction is provided for amounts xised for debt retirement or for amounts
used for plant expansion.
Consequently, if the individual or partnership
"buys new machinery or a new factory building, no deduction is allowable
from its gross income from business operations.
It follows, therefore*
that an individual may be subjected to normal taxes and surtaxes upon
the amounts of the net income of his firm which he has not received but
which have been invested on his behalf in new buildings, or equipment or
in the retirement of debts.
The justification for this method of treat
ment lies in the fact that business men and their accountants agree that
the payment of debts or the purchase of new buildings or equipment does
not affect current operating income and it is current income which is
"being subjected to the tax.
Moreover, if exemption were granted to income
saved and invested in this particular manner, there would be a good -ease
for exempting incomes saVed and invested in other ways.
Also, it is well
to bear in mind that the payment of debts or the purchase of new equip-,
ment does not decrease the net worth of the enterprise but preserves it.
J
- 9 ¡Che corporate normal tax,in the present law is graduated from
8 to 15 percent of net income*
The normal tax rates and surtax rates
on individuals* range from 4 percent to a total of 79 percent.
If
corporate income is distributed to individual stockholders in the form
of dividends | the Treasury will receive the normal tax and the surtaxes
upon such dividends, as they may he applicable to the particular indi
viduals who receive the dividends*
On the other hand, if the corporation
retains its earnings, and if there is no undistributed profits tax3
the Treasury collects for that year a maximum of 15 percent normal
tax from the. corporation and no taxes whatever from the individual
stockholders*
It is evident, therefore, that under this system the
Treasury receives decidedly less revenue in the case of undistributed
corporate earnings than in the case of corporate earnfngs, which are
distributed in dividends.
Unless, therefore, corporations are to be
encouraged by the federal tax system to retain their earnings and not
to distribute them, it appears that the tax rate applicable to the
net income of a corporation which distributes its earnings should be
somèwhat less than, the tax rate applicable to a corporation which re
tains its earnings*'
The subcommittee determined that the undistributed profits tax
should be retained.for these reasons, but should be modified in several
important respects*'
In the first place, it was determined that
corporations with net incomes of $25,000 or less (including inter
corporate dividends and tax-exempt interest), should be subjected only
to normal tax rates.
It was found that corporations with net incomes
of this size are not ordinarily employed for the purpose of reducing
or avoiding the surtaxes which would otherwise be applicable to their
individual shareholders,
furthermore, these corporations include the
~
10
~
young, growing enterprises of the country which feel the need of retaining
their earnings to a greater degree than corporations with larger incomes.
Hence, the subcommittee imposed on such corporations graduated rates rang
ing from 13§- percent to 16 percent but no undistributed profits tax«
The subcommittee has recommended that corporations with incomes in
excess of $25,000 be subjected to â normal tax of 20 percent but be al
lowed a deduction of 20 percent- of dividends paid.
This deduction will
reduce the rate of tax to 16 percent if all earnings axe distributed. The
subcommittee discussed the possibility of setting these rates at somewhat
higher figures and then allowing deduction or credits on account of plant
expansion, debt retirement, contracts restricting the payment of dividends,
etcetera.
The subcommittee concluded, however, that it was preferable to
set the corporation tax rates at minimum figures consistent with revenue
requirements and thereby to eliminate the necessity for a lange number of
credits, deductions, and exemptions applicable to hard canes.
It was
decided, however, that a special allowance should be made for corporations
which had suffered net operating losses in the preceding year.
Such cor
porations have a legitimate claim to the retention of a portion of their
net earnings sufficient to make up the net operating loss.
Consequently,
the subcommittee decided to permit a corporation to carry forward a net
operating loss for the prior year and to treat it an a dividend paid in
the succeeding year to the extent that the corporation had net income in
the succeeding year.
The subcommittee concluded that the 4 percent differential between
the rate applicable to corporations which distribute none of their earn
ings and corporations which distribute all of their earnings wan not
adequate to prevent an unreasonable accumulation of earnings by closely
11 held corporations with large incomes*
In the case of incomes exceeding
approximately $57,000* the total effective rate of
tax applicable
to individuals exceeds 20 percent, the maximum corporate normal tax rate
as -proposed.
If, therefore, a corporation is controlled by a small group
of individuals whose incomes exceed this figure, there is clearly a strong
tax incentive for the retention of the earnings in the corporation rather
than their distribution to stockholders in the ordinary course.
Indeed,
the incentive exists to some degree in cases of corporations controlled
by individuals with much smaller incomes.
Moreover, corporation stock
holders whose incomes are in the higher surtax ranges may enjoy a notable
advantage for tax purposes over similarly well-to-do members of individual
proprietorships or partnerships, since, as I have heretofore staled, the
net incomes of the latter types of businesses are taxable to their owners
whether the earnings arc distributed or not.
During 1936 the dividends paid credit for all corporations report
ing prior to August 31, 1937, amounted to an average of 80.66 percent
of the adjusted net income.
In the ten years from 1926 to 1935, when
no undistributed profits tax was in effect the ratio of cash dividends
paid to adjusted net income ranged from 57.1 percent in 1926 to 100.7
percent in 1932.
In only two years, 1926 (57.1 percent) and 1928
(59.7 percent), was the ratio less than 60 percent.
The average dis
tribution of American corporations of all sizes during this.ten-year
period, talcing into account both good years and bad, was 76.9 percent
of net income.
The subcommittee, therefore, concluded that to protect the revenues
and to insure that closely held corporations should not be used as
vehicles for unreasonable accumulations of surpluses, a surtax should
/'
~
12
~
be imposed upon closely held corporations with net incomes exceeding
$50,000 which distributed less than 60 percent, approximately, of their
adjusted net incomes.-
The tax is computed on net income after deduc
tions and credits, for (l) tax-exempt interest; (2) the general corporation
tax; (3) $40,000 or 30 percent of net income, whichever is greater;
(4) dividends paid; and (o) previous operating deficits, and (6) certain
other deductions not allowable in computing net income.
Since corporations
of this character can completely escape the surtax by making distributions
of a less percentage of their earnings than is customarily distributed on
the average by corporations in this country, the treatment accorded them
is both fair and reasonable*
The surtax proposed works out to be slightly
less in nearly all cases than that imposed by the present undistributed
profits tax.
*
'
The subcommittee seriously considered the repeal of the capital
stock tax and excess profits tax.
These two taxes have little to re
commend them save the assurance of $150-175 million of i'evenue.
As'
the two taxes work out they can be regarded in most cases as essentially
an additional tax upon net income but based upon a guess marie one year
or two years previously as to what the net income will be.
The capital
stock tax does not require the actual evaluation of the corporate
assets nor is the excess profits tax a true tax upon the excess of the
earnings over a reasonable return on the capital in%rested,
The sub
committee concluded, however, that it would be undesirable to increase
the corporation normal tax to the extent required to make up the loss
of revenue from the repeal of these two taxes.
To alleviate the hard-
.
13 -
ship of the imposition Of these taxes on the basis of valuations made by
corporate officers in 1936, the subcommittee recommended that corporations
he permitted to set a new valuation on their stock in the return to be
filed in 1939, and every three years thereafter*
3.
Individual income taxes - So much for the taxes on corporations.
With respect to individual income taxes, the subcommittee devoted the
major part of its attention to the provisions for the taxation of capital
gains and for the deduction of capita-1 losses.
Gains from sales of
property have been subjected to income taxation from 1913 to the present
time.
It is urged by some persons that gains from sales of property are
not really income but the problem cannot fairly be disposed of on a
theoretical or academic basis.
The practical question is whether such
gains represent capacity to pay to any less degree than income realized
in the form of salaries, dividends, interest or otherwise.
In other
words, would it be just to repeal the present tax on capital gains and
to make up the lost revenue by increased taxes on salaries and other
forms of ordinary incomet
It is agreed on all sides that the gains
realized by a merchant from repeated sales of property in his business
should be taxed as ordinary income.
It is hard to see why an individual
who makes $10,000 from a single sale of stocks or other property, or
from several sales, has less capacity to pay an income tax than a mer
chant who makes a net profit of the same amount from a great number of
sales.
Uor is it easy to see why either of these Individuals has less
capacity to pay than an individual who earns a salary of like amount*
Consequently, the Treasury has repeatedly taken the position, as has the
Congress, that capital gains should "be subjected to the income tax*
The
estimated collections from individual income taxes on capital gains, in
excess of allowable deductions and tax credits for losses, aggregate
$1,415,328,000 in the ten-year period. 1927-36 inclusive, or an average
of $141,533,000 per year*
The estimated individual income tax collec
tions from all sources of income during the same ten-year period amount
to $6,802,751,000, or an average of $680,275,000 per year.
Consequently,
the net taxes derived from capital gains during this period averaged 20*8
percent of total individual income tax collections*
There is good reason, however, for taxing capital gains in.some
different fashion than that which is applied to ordinary income*
A
salary is earned in a particular year and the gains realized by a mer- •
chant are ordinarily attributable to a particular year*
Gains from
sales of property by persons not in the regular business of selling fre
quently have accrued over a number of years and there is considerable
unfairness in subjecting the entire gain to progressive surtaxes in the
year in which it is finally realized by a sale*
The figures presented
by the Treasury to the subcommittee shew that of the capital gains re
ported in 1934, 34 percent were realized from sales of property held
less than one year and the remaining 66 percent from sales of property
held for a longer period; 35§- percent.of the gains were realized on
sales of property hel£ over ten years*
Gains from sales of property held less than one year do not appear
to be entitled to any preferential treatment for income tax purposes
over income realized in the form of salaries, dividends, interest, etcetera
from the beginning the Congress has always subjected such gains to the
-
15-
3*ates of tax applicable to ordinary income*
The Congress in 1934 adopted,
a plan for the taxation of gains from sales of property held for longer
periods which reduces the amount of taxable gain subjected to the sur
taxes according to the length of time the property sold has been held by
the taxpayer.
By this method the.tax produced may be less than it would
have been had the total gain been taxed evenly in the various years dur
ing which it accrued*
In other T/ords, the present method of taxation
may apply to capital, gains somewhat lower rates of taxes than would be
applied to ordinary income.
To cite the extreme case, if the property
sold has been held over ten years, the maximum rate of tax is 23*7
percent, whereas the maximum rate- of tax on ordinary income is 79
percent.
If the property has been held over S?ive years, but not over
ten years, the maximum rate of tax is 31.6 percent as against 79 percent.
The subcommittee felt that it would be desirable to fix maximum
rates of tax for gains on sales of property held more than one year*'
The effect of its recommendations is that a taxpayer may at his option
be taxed upon his capital gains at a rate approximating 30 percent if
the asset has been held two years before sale, reduced to 16 percent
if the asset has been held five years or more.
This provision increases
the certainty of the rate of tax applicable to large capital gains;
and since the rate imposed is considerably less than that imposed on
ordinary income, completely meets the objection that high tax rates are
preventing sales of property.
finally, the principal objection to the present method of dealing
with capital gains and losses is that while gains are taxable in the
manner described, losses are not fully deductible.
In order to relieve
- 16
this situation the subcommittee has recommended that taxpayers should be
permitted to carry over capital net losses and apply them against the
capital net gains of the next succeeding year.
In addition, the sub
committee has segregated-one-year gains and losses from longer term gains
and losses with the primary purpose of preventing the use of speculative
losses,to offset gains from property held for more than one year.
4.
Tax-exempt interest - The subcommittee attempted to find some way
whereby the interest on future issues of Federal, state and municipal
securities could be subjected to the income tax.
It was agreed that
effective auction should be taken as promptly as possible to eliminate
tax-exemptions for the future.
A good deal of attention was directed
to the proposal made by Senator Garter Glass, then Secretary of the
Treasury, that the interest on Federal, state and municipal securities
should be taken into account in determining the rates of tax applicable
to the taxpayer1s income from other sources.
The subcommittee con
cluded, however, that the validity of a statutory provision of this
character was very doubtful in the light of the reasoning in the line
of Supreme Court decisions culminating in Fox v. Fravo Contracting
Company (301. U.S, 665); and that it would be best to make the change
oy constitutional amendment rather than by a-statute.
The Treasury
has urged for many years that a constitutional amendment- should be
adopted under which the interest on future issues of Federal, state
and municipal securities should be subjected to the same rates of-income
taxation as is the interest on other obligations,
is strongly reiterated at this time.
The recommendation
17 -
5.
Estate and ‘
gift taxes - Some of the relief provisions proposed
by the Treasury and adopted by the subcommittee will.result in losses
of revenue, which must be made up from other sources.
The estate tax
and its corollary,.the gift tax, may fairly be used to secure some of
the needed revenue.
The data presented to the subcommittee show that
there were only 8,655 taxable estate tax returns filed in 1935, although
approximately 1,100 thousand adult deaths occurred in that year.
The
reason for this comparatively small number of returns is that various
estate and gift tax exemptions permit an individual to transfer a good
sized estate to his beneficiaries without the payment of any tax.
In
addition to the general $40,000 exemption permitted by the Federal lav/,
there.is an additional $40,000 exemption for insurance payable to an
individual beneficiary other than the executor.
There is also a $40,000
exemption from the gift tax plus annual exemptions of the first $5,000
of gifts made to any person during any year.
The specific exenption
for estate or inheritance tax purposes in a great majority of the states
(34) is less than $40,000 and in most foreign countries'is very much
less.
The maximum in England, for example, is only £100 and in all of
the Canadian provinces is $25,000 or less.
Consequently,"the subcommittee felt that some of the revenue lost
by relief provisions operating in favor of individuals could properly
be made up by a reduction in estate and gift tax' exemptions.
Accord
ingly, it was decided to recommend that the $40,000 estate tax exemption
should be reduced by so much of the $40,000 gift tax exemption as
been used during the decedent*s life.
It was recommended that the
has
18 -
$5,000 exemption per donee per year for gift tax purposes should he re
duced to $3,000.
Finally, in the interest of greater simplicity it was
recommended that the two sets of rates now,used in the computation of
the estate tax should he combined into one^
The Treasury is further
studying the possibility of combining the estate tax and the gift tax
so that all transfers of property by an individual will be taken into,
account in computing the applicable taxes; and one set of rates will be
provided throughout*
6.
Excise and miscellaneous taxes - At the present time not quite
half of the Federal internal revenues are produced by various forms of
manufacturers* excise and miscellaneous taxes.
The most productive of
these are the taxes on alcoholic beverages ($614 million); the tobacco
taxes ($545 million); a considerable number of manufacturers’ excise
taxes ($458 million); and the social security taxes ($721 million).
A considerable number of the manufacturers* excise taxes were originally
imposed in 1932 upon a temporary basis and have since been extended from
time,to time because of the need for revenue.
The revenue system, as
a whole, would be considerably improved if the temporary excise taxes
upon commodities in common use could gradually be eliminated, the lost
revenue being provided, if necessary, by increases in the income tax and
* \
estate tax. The subcommittee decided to make a start in this direction
ty eliminating 10 of the less desirable of these taxes.
In all cases
the revenue yield is comparatively small and in a number of instances the
tax has outlived its usefulness, since it was originally imposed primarily
for regulatory purposes.
In other instances administrative difficulties
outweigh the utility of the tax.
The total loss of revenue will
- 19
approximate $25 million. 'The Treasury, as well as the sub commit tee,
hopes that it will he possible to eliminate additional excise taxes in the
next few years as budgetary conditions improve.
7*
Administrative provisions - On the administrative side the
Treasury’s day-by-day experience suggested- a number of detailed improve
ments which could be made to the general advantage of the taxpayer as
well as of the Department, in clarifying procedure and thereby facilitat
ing the prompt disposition of tax returns.
The subcommittee carefully
considered these recommendations, and adopted many of them.
There are
also three major administrative improvements in which the Treasury is
vitally interested.
In the first place, through the cooperation of the
staff of the Joint Committee on Internal Revenue Taxation and the Bureau
of Internal Revenue, a codification of internal revenue laws in effect
as of January 1, 1958, is under preparation.
The last such codification
contains the revenue laws in effect on July 16, 1932, and there has been
no official compilation since that time.
I hope that the staff of the .
Joint Committee will be able to complete its work in time for the codi
fication to be approved at this session of Congress.
The Bureau is now engaged in drafting a revision and consolidation
of the administrative provisions under all the various revenue laws.
This is a task of considerable magnitude since many of the provisions
are 50 or 75 years old and are now encrusted with a great number of
interpretative court decisions. We believe that a restatement of these
provisions in the light of the decisions and practice thereunder will
be of great advantage to the taxpayers, as well a3 to the Bureau,
It
20
~
will probably not be possible, however, to present this revision at this
session of Congress.
As a part of this enterprise, the Treasury is
actively considering the possibility of consolidating and simplifying
the various types of court procedure incident to.the determination
of deficiencies and the recovery of overpayments.
There would be a real
advantage to all if a single type of proceeding and of appeal, applicable
both to deficiencies and refunds, could be substituted for the several
alternative and conflicting types of proceedings which-have gradually
grown up through the years.
In the third place, the Treasury has for some time studied the
possibility of providing the taxpayer with some effective means of ob
taining an opinion as to his prospective tax liability prior to the con
clusion of the particular transaction with which he is concerned.
?or
example, the making of a sale or the conclusion of an agreement with
creditors may in. large part depend tipon the tax liability which will
result therefrom.
At present there is no definitive means whereby the
taxpayer may secure an official opinion in advance.
It seems desirable
that such a means should be provided, particularly in situations where
large numbers of individuals are involved.
Accordingly, the Treasury
has recommended and the subcommittee has adopted a plan for declaratory
rulings in tax cases where the taxpayer requests an advance c-pinion,
end in the opinion of the Commissioner it will be to the best interests
of the Treasury to issue such a ruling after an appropriate investigation.
As an important incident of the plan, if the taxpayer accepts the ruling
and proceeds to conclude the proposed transaction on the strength of it,
«
21
both the taxpayer and the Commissioner will he harred from contesting the
tax liability as theretofore determined.
Conclusion - I have not attempted to include in this statement
references to all of the amendments which the subcommittee has proposed.
Many of these are of major importance in relieving hardships and in
equities which experience has shown to exist in the present tax system.
For example, changes of far-reaching importance are being proposed in
the Statute of Limitations which are intended to eliminate much useless
controversy that now goes on merely as to the year in which an item of
income should be reported or a deduction allowed, there being no ques
tion that the deduction is allowable or the income reportable in some
year.
Another important, though subsidiary, recommendation, is that
the capital loss limitations shall not be applied to losses on the dis
position of assets used in the trade or business, such as obsolete
machinery,
The subcommittee and its assistants have devoted themselves to the
work of revenue revision continuously for nearly three months.
It
should be borne in mind that the staff of the Joint Committee on Internal
Revenue (Taxation, as well as the (Treasury, is regularly engaged in a
study of the operation of the tax system and proposals for improvements
in it.
The process of revising the revenue laws is complex and diffi
cult, because of the far-reaching effects of the sixty or mere different imposts, and of their importance in the day-by-day business trans
actions and dealings of individuals.
During the past few months the
Treasury has received hundreds of letters from taxpayers and from
- 22-
representative organizations suggesting various modifications of the tax
laws, and often presenting extensive compilations of data and arguments.
In fairness to the taxpayers involved, these recommendations must he
carefully studied and checked against official statistics and reports,
in order that the precise effect of the various taxes in all of their
details may he gauged, and that proposals for change may he grounded upon
accurately determined facts.
After recommendations for amendments are adopted hy the subcommittee
on the basis of the information submitted to it there still remains the
problem of drafting the proposed changes - a task requiring experience,
time, and careful thought.
The Committee is exceptionally fortunate in
having available for this work men of unusual qualifications and ability.
The task i‘s not, as is sometimes said, one of putting a simple thought
into unintelligible statutory language.
Each new provision or amendment
must be fitted into the complex structure of existing law; and in addi
tion careful consideration must be given to the situations to which the
new provisions will apply, and to the best means which can be adopted
for obtaining the results the subcommittee desires.
It is not unusual
for days to be spent in the consideration of the draft of a provision
which will occupy-qnly a few lines in the statute books. Eor these reasons, among others, progress in the revision of the
tax laws must be made slowly.
Indeed, in view of the importance of the
various .taxes in cur national economy it is well that changes should
not be made precipitately. ■ Business men daily make decisions in the
light of existing tax laws; and hasty changes can produce unexpected
23
results of much greater significance than the revenue directly involved*
Hence, the subcommittee did not undertake to recommend amendments
at this time upon all the subjects which were presented to.it.
In the
president*s message of June 1, 193?, reference was made to the desirability
of improving the provisions of the law relative to the taxation of the
income of persons residing in the community property states; and relative
to the deduction for depletion by oil and mining corporations on a
percentage basis.
The subcommittee has recommended that both of these
subjects be referred to the staff for further consideration, since it
was desirous of reporting this bill within a reasonably short period, and
since both topics appear to require extended study.
The Treasury in turn will proceed with its consideration of the
various component parts of a broad general program for revenue revision,
part of which has now been embodied in the subcommittee^ recommendations.
In order that the Committee may be-fully informed on the subject, I should
like to list some of the major topics which are being considered and upon
which recommendations may be made to the appropriate committee or sub
committee at some later date;
1.
Methods for the integration of the Federal and state taxing
systems and for
forms of taxes.
elimination of the present overlapping of particular
In this connection consideration is being given to the ,
possible elimination of some of the duplicate returns now required by
state and Federal tax administrations, as has been done, for example,
in Australia,
2,
The elimination, as to future issues, of the exemption now
accorded by the state a,nd Federal Governments to the interest on Federal,
24 ~
state and municipal securities; and to the incomes of Federal, state and
municipal officers*
3.
The gradual repeal of additional manufacturers' excise taxes
imposed on a temporary basis; and the substitution for them, if necessary,
of other forms of taxation.
4c
The possible consolidation of the estate tax and the gift tax,
to end the present confusion as to which tax is applicable to certain
forms of inter vivos transfers; and to apply a single set of rates to
all transfers made by an individual during his life or at the time of
M s death.
5.
The simplification and the consolidation of the administrative
11' m BhhhHm!¡1111111
provisions of the various forms
I3I11I1 «ml WmmSam
of taxes, and in particular of the
procedure for suits and appeals involving deficiencies and refunds«,
6.
Further provision for the application of the net operating
losses of one year against the net operating income of subsequent years.
7.
The general problem of exemptions and credits, including the
personal exemptions, the earned income credit, and the former credit
against the normal tax for dividends received by an individual.
The Treasury expects to continue its work upon all these topics
and to furnish information upon .them from time to time a.s requested.
The Treasury appreciates the opportunity afforded it by the sub
committee and by the Committee on Ways and Means itself, to present
the Department's views with respect to the amendments now und.er con
sideration.
The subcommittee and its staff have devoted careful
attention to the recommendations contained in the report.
In the view
25
of the Department, these recommendations, if embodied in legislation,
will effect many important improvements in the existing revenue system,
will relieve some of the most serious inequities that experience has
shown to exist, and will facilitate the equitable imposition and orderly
administration of the Federal tax laws.
0O0
TREASURY DEPARTM ENT
O F F IC E O F T H E S E C R E T A R Y
C O M M I S S IO N E R
WASHINGTON
OF
A C C O U N T S A N D D E P O S IT S
January 12, 1938.
TO MR. GASTON;
During the month of December, 1937, the
following market transactions took place in Govern
ment securities:
Total purchases
$3,406,900
Total sàles ...
18,758,000
\ i | -g
<J
Net sales
$15,351,100
fl
TREASURY DEPARTMENT
Washington
January 14, 1938.
MEMORANDUM FOR MR* GASTON,
Assistant to the Secretary*
I a m returning the proposed newspaper release in connection
with the audit in Collectors* of floes of the information returns
under Title V I I I of the Social Security Act for the first half
year of 198?.
Certain suggested changes In the proposed release
are contained in the draft also enolosed herewith.
approves of the statement as rewritten.
Commissioner.
Ends
Mr. Graves
TREASURY DEPARTMENT
WASHINGTON
January B, 1938.
MEMORANDUM FOR MR. McREYNQLDS;
You will be interested in the following, which appeared in the
"Daily Press Digest" of the Social Security Board for January 6, 1938*
» »WASHINGTON W H I S P E R S ': Because the big increase in un
employment had not been expected, ‘administrative difficul
ties in the States threaten to clutter the machinery for pay
ing unemployment b e nef i t s ... * The Advisory Committee on Social
Security is expected to recommend ‘an extensive new study of
the old-age pension system, w i t h a view to devising a less
complicated set-up.’ Trouble between the Social Security
Board and the Treasury Department over record keeping may
result in an attempt to unite this responsibility under one
agency or the other. *To date no start* has been made on
the Board's records because of failure to receive the re
quired information from the Treasury.
'The problem of audit
ing individual entries on 30,000,0p0 account cards has the
Bureau of Internal Revenue stumped, as a large proportion
of returns from employers fail to check.'
"Washington United States N e w s . January 3 (In Library)."
As of December 31, 1937, the Bureau of Internal Revenue had for
warded to the Social Security Board 32,095,377 individual information
returns of an estimated total of 36,000,000 for the return period
January to June, 1937.
The Bureau expects to have this job entirely cleaned up by the end
of January, at which time similar returns for the information period
July to December, 1937, are required to be filed in Collectors' offices.
While, as y o u know, the volume of work has been tremendous and
the problems many, the Bureau is by no means "stumped" as the above
article indicates.
GRAVES.
TREASURY DEPARTMENT
Ashing ton
FOR RELEASE, AFTERNOON NEWSPAPERS
Monday, January 17, 1938«
1/15/38.
Press Service
No. 12-16
Commissioner Guy T. Helvering announced today that
the Bureau of Internal Revenue has transmitted to the Social Security
Board 33,388,441 information returns under Title VIII of the Social
Security Act, listing for the first six months of 1937 employees to
whom wages have been paid and the amounts paid to them.
Before the end of the current month the Bureau expect*
to have cleared an estimated remaining 3,832,000 returns to cover a
total of 37,220,000 employees enrolled under the provisions of Title
VIII during the initial half-year of its operation.
The data contained
in the information returns has been audited by Collectors 1 offices in
conjunction with the corresponding tax returns filed monthly.
Similar returns for the i n f o r m t ion period July to
December, 1937, will be filed during the current month and immediately
thereafter the Collectors will begin their audit and transmittal to
the Social Security Board.
The third set of information returns, for the period
January to March, 1938, will be due by the end of April as a part of
the tax returns (Form SS-la) for that quarter.
The combination of
the two forms was provided for in a Treasury Decision approved ty
Secretary Morgenthau on November 23, 1937.
oooOooo
TREASURY DEPARTMENT
WASHINGTON
O F F IC E O F
COMMISSIONER OF INTERNAL REVENUE
January 14, 1938.
A D D R E S S R E P L Y TO
C O M M IS S IO N E R O F IN T E R N A L R E V E N U E
AN D R E F E R TO
MEMORANDUM FOR MR. GASTON,
Assistant to the Secretary:
I am returning the proposed, newspaper release in connection
with the audit in Collectors* offices of the information returns
under Title VIII of the Sooial Security Act for the first half
year of 1937.
Certain suggested changes in the proposed release
are contained in the draft also enclosed herewith.
Ends
Mr. Graves
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Monday, January 17, 1938.
1/15/387
* .
Press Service
No. 12-16
Commissioner Guy T. Helvering announced today that
the Bureau of Internal Revenue has transmitted to the Social Security
Board 33,388,441 information returns under Title VIII of the Social
Security Act, listing for the first six months of 1937.employees to
whom wages have "been paid and the amounts paid to them.
Before the end of the current month the Bureau expects
to have cleared an estimated remaining 3,832,000 returns to cover a
total of 37,220,000 employees enrolled under the provisions of Title
VIII during the initial half-year of its operation.
The data contained
in the information returns has Been audited by Collectors’ offices in
conjunction with the corresponding tax returns filed monthly.
Similar returns for the information period July to
December, 1937, will be filed during the current month and immediately
thereafter the Collectors.will begin their audit and transmittal to
the Social Security Board.
The third Set of information returns, for the period
January to March, 1938, will be due by the end of April as a part of
the tax returns (Porm SS-la) for that quarter.
The combination of the
two forms was provided for in a,Treasury Decision approved by Secretary
Morgenthau on November 23, 1937.
oooOooo
John Joseph Antjaosy, Jr.,
Hl2 Bellevue /&ve,j)
Hammonton, N.'-Jh'"
Richard H. Laclpan,
2 U 2 5 Virginia (Sty,
Berkeley, Calif.
Louis F. Sudnik,
TJ. S. S. MEDUSA,
San Pedro, Calif,
Roger H,,»3anner
Center tstj,
Segreganset, Mass.
George H. Lawrence,
U. S. Naval Hospital,
Washington, D. C.
Harrison P. Taylor_
x
1 0 1 S North Second St),
Mankato, Minnesota,^
John Winston J3o oker
H 6 26 Cla^ Ave.,
Houston, rex.
Gordon McBain
259 Box Ave,
Buffalo, X
Y.
John E. Brown,
_ Zaven Mukhalian,
Co. 37-23» Naval Training ^ t a ) » 396 MontellofStj*
San Diego, Calif.
Brockton, Mass.
Elmo Castelnuovo,
Hi7 Lincoln 0jve|,
Leechhurg, Penna.
Adrian M. 0*Beck, Surf /Orò.
Holland ¿ta], 10th Dist^ ,
David R. Claxton,
12 East
,
Ipswich, Hass.
Walter John Pisinski,
56 Julian ^t^)
Providence7""R. I.
James P. Fair hr 00 k,
511 South Sixth
,
Yakima, Wash.
Max A. Schlecht, N.C. Div,
Ü.S.S. NORTHAMPTON,
San Pedro, Calif.
Peter Hanna,
West Newton, Penna.
Frank C. Schmitz,
U. S. S. LEXINGTON,
San Pedro, Calif.
James P. Hartnett,
155 South/litA
Wat erhur yV-Geran.
Henry Clay Keene
115 Lucas Lane,
Be the sda, Md.
Robert Kirstein,
2 Sherbrock Road,
Lindenhurst, N.Y.
Jerry Komorech,
U.S. C.G. C . , SARANAC,
Galveston, Tex.
Herbert SosensJsjr,
1055 Newport
Brooklyn, N. Y.
William M. Sterling,
Hambrooks d§lvd),
Cambr idge, Maryland.
Andrew Stohrer,
,_.
TJ.S.S. SELFRIDGE, Navy^Yd]
Philadelphia, Penna.
TREASURY DEPARTMENT
Washington
for
FOR RELEASE, MORNING NEWSPAPERS
Tuesday, January 18, 1958.
1/15/38.
Press Service
No. 12-17
The first designation of candidates eligible
to compete for appointment as cadets in the United States
Coast Guard Academy at New London, Conn#, was made today by
Rear Admiral R. R# V/aesche, Commandant of the Coast Guard,
Other applicants will be certified from time
to time during the next five months as satisfying the
scholastic and character requirements of the Service and all
will then compete in June in examinations to be given z t
in various parts of the country with the co-operation of the
Civil Service Ccaamission#
Successful participants in that
test will be appointed
as cadets for entrance
into the Aeademy in August, 1938, as the needs of the Service
may require^
The first candidates accepted from among the
many who have applied during the pest six months to take the
Academy examination are as follows5
TREASURY DEPARTMENT
Washington
JOR RELEASE, MORNING- NEWSPAPERS,
Tuesday, January 18, 1958,_____
\
Press Service
No. 12-17
1/15/38. _
The first designation of candidates eligible to compete
for appointment as cadets in the United States Coast G-uard Academy at
New London, Conn., was made today "by Rear Admiral R. R. Waesche,
Commandant of the Coast G-uard.
Other applicants will "be certified from time to time
during the next five months as satisfying the scholastic and character
requirements of the Service and all will then compete in June in
examinations to he given in various parts of the country with the
co-operation of the Civil Service Commission,
Successful participants
in that test ?^ill he appointed as cadets for entrance into the Academy
in August, 1938, as the needs of the Service may require.
The first candidates accepted from among the many who
have applied during the past six months to take the Academy examination
are as follows:
John Joseph Anthony, Jr.,
412 Bellevue Avenue,
Hammontqn, N. J.
John Winston Booker,
4626 Clay Avenue,
Houston, Tex.
Roger H. Banner,
Center Street,
Segreganset, Mass.
John E. Brown,
Co. 37-23, Naval Training Station,
San Diego, Calif.
2
Slmo Castelnuovo,
417 Lincoln Avenue,
Leechburg, Penna.
Zaven Mukhalian,
396 Montello Street,
Brockton, Mass.
David R. Claxton,
12 East Street,•
Ipswich, Mass.
Adrian M. 0*Beck, Surfman,
Holland Station, 10th District
Walter John Pisinski,
56 Julian Street,
Providence, R. I.
James P. Pairbrook,
511 South Sixth Street,
Yakima, Wash,
Peter Hanna,
West Newton, Penna.
Max A. Schlecht, N. C. Div.,
U. S. S. NORTHAMPTON,
San Pedro, Calif.
James P. Hartnett,
155 South Street,
Waterbury, Conn.
Prank C. Schmitz,
U. S. S. LEXINGTON t
San Pedro, Calif.
Henry Clay Keene,
115 Lucas Lane,
Bethesda, Md.
Herbert Sosensky,
1055 Newport St.,
Brooklyn, N. Y.
Robert Kirstein,
2 Sherbrock Road,
Lindenhur st, N . Y .
William M. Sterling,
Hambro oks Boul evar d ,
Cambridge, Md,
Jerry Komorech,
U. S. 0. G. C. , SARANAC,
Galveston, Tex.
Andrew Stohrer,
U. S. S. SELPRIDGE, Navy Yard,
Philadelphia, Penna.
Richard H. Lachman,
2425 Virginia Street,
Berkeley, Calif.
Louis P. Sudnik, .
U. S. S. MEDUSA,
San Pedro, Calif.
George H. Lawrence,
U. S. Naval Hospital,
Washington, D. C.
Harrison P. Taylor,
1013 North Second Street,
Mankato, Minnesota.
Gordon McBain,
259 Box Avenue,
Buffalo, N. Y.
■oOo'
TREASURY DEPARTMENT
Washington
$0R RELEASE, AFTERNOON NEWSPAPERS,
Wednesday, January 19, 1938.
1/17/38.
I
'
Press Service
No. 12-18
Secretary of the Treasury Morgenthau today made public the first .
of a series of tabulations from the "Statistics of Income for 1935, Part 2,
Compiled from Corporation Income and Excess-Profits Tax Returns And Personal
Holding Company Returns" prepared tinder the direction of Commissioner of
Internal Revenue Guy T. Helvering.
-The report will be released at a later
date,
Corporation income and oxcess-profits tax returns for 1935 were
filed under the provisions of the Revenue Act of 1934.
The tabulations
include returns for the calendar year 1935, returns for fiscal years ended
in the period July 1935 through June 1936, and part year returns for which
the greater part of the accounting period falls in 1935.
This first series of tabulations includes two tables, the first
classifying the data by States and Territories and the second presenting
the data by major industrial groups.
Both tables further classify the data
ty returns with net income and no net income and each of these groups shows
the number of returns, gross income, deductions, net income or.deficit,
income tax and excess-profits tax.
The first table also contains corres
ponding totals for 1934.
Corporations filed a total of 533,631 returns for 1935, of which
164,231 show net income, 312,882 show no net income, and 56,518 show no in
come data (inactive corporations).
The aggregate gross income reported by
— 2 *r
.
all active corporations amounted to $113,936,170,000.
The aggregate net
income of corporations in the net income group was $5,164,723,000 and the
deficit of corporations with no net income was $3,468,774,000.
Returns
showing net income reported a total,income tax and excess-profits tax
liability amounting to $735,125,000*
Aggregate gross income, i.e.» combined gross income of net income
and no net income returns for 1935 exceeded that for 1934 by $13,104,917,000
or 13.0 percent*
The net income of corporations with net income less the
deficit of corporations with no net income, amounted to $1,695,949,000 in
1935 as compared with $94,170,000 in 1934, or an increase of $1,601,779,000.
The 1935 data, as compared with 1334, show that the number of net income
corporation returns increased by 19,130, or 13*2 percent: net income in
creased by $889,526,000, or 20.8 percent; and the total tax liability in
creased by $139,076,000, or 23.3 percent.
The number of returns with no net
income decreased by 11,821, or 3*6 percent, and the deficit decreased by
$712,254,000, or 17.0 percent.
Corporation returns for 1935, "by States and Territories and by returns with, net income and with no net income, showing number of returns, gr*ss income,
deductions, net income or deficit, income tax, and excess-profits tax; al&o aggregates for 1934
(Money figures in thousands of dollars)
___________________ .__ —
-- —
--------------- N--------:
------
-•»>--- ■■
■ ............
1
-- -- ........... .......
Returns with net income
STATES
m TEBRITORIES
Total
number of
returns
Gross income
Number
^
3,725
217
1,555
2,534
25,246
Alabama
AlaskaArizona
Arkansas
California
Colorado
Connecticut
Delaware
6,660
9 ,0 5 1
2,888
2,780
District of Columbia
Florida
9,863
5,830
798
2 ,26 9
35,331
12,515
*,736
4,g4l
5,252
Ceorgia
Hawaii
Idalio
Illinois
Indiana
Iowa
Kansas
Kentucky
6,850
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
3,912
6,776
21,699
l6 , 166
1 1 ,2 1*+
2,37*+
15,906
2,973
4 ,49h
968
1,464
2 6 ,3 5 4
1,133
1 2 0 ,6 1 9
6 ,0 1 9
2,752
26,664
1,028
8,623
1,854
2,708
88 3
1,153
2,651
504,588
457
653
1 1 ,5 0 6
4,397
2,944
2 2 7 ,1 5 0
84,461
9,006,547
1,159,218
733,915
4 9 1 ,6 0 1
7 3 6 ,1 8 0
6 2 6 ,0 77
2 1 9 ,3 8 2
1 .3 3 2
2,120
2,3.25
1,111
2,324
7 ,0 2 7
5,946
3 ,6 8 3
910'
5,305
1,053
1,6 13
22t
523
5 ,6 7 0
337
1,076,439
699,284
471,242
689,495
590.254
205,972
737,609
3,075,337
11,121
S36
4,4ci
7 ,10 1
265,864
3 3 ,3 3 3
90 ,438
1 2 8 ,5 6 8
2 7,0 2 3
22,1C6
26,683
3 1,2 3 6
6 ,4 3 5
4 6 1 ,6 6 3
32,779
34,631
¿0 ,3 6 0
46* 6g6
35,323
1 3 ,4le
55,306
l,53C
115
6o4
976
36,557
5 ,2 7 1
1 2 ,4 3 4
3 0 ,6 8 6
6 2 ,7 7 2
9,353
199,PG7
9,657
308
4 4 ,650
8 ,5 0 6
1,901
48,072
3 ,4 9 2
1,6 19
% 303
4,557
1 4 ,3 0 1
1,287
658
7,807
4,462
4,728
8 ,5 5 2
264
3 2 7 ,6 0 7
^,9 7 1 ,9 0 3
*»n.535
, ,2 7 5 .669
7*1.962
6 18 ,0 0 5
1 ,9 2 0 ,2 2 7
1 7 3 ,6 6 6
81,531
697,71*1
639,526
5 10 ,0 0 2
1 ,2 73 ,0 2 8
6s4,022
313,857
4,622,276
3 8 6 ,1 3 8
2 6 3 ,896
7 2 ,7 5 6
584,864
1 ,8 1 6 ,3 7 7
1 6 4 ,3 0 7
76,744
64o,936
•6 0 7,0 7 6
475,6l4
1,210,847
37,2*1**
35,923
16 4 ,2 3 1
7 7 ,*1*1 1 ,5 0 6
7 2 ,2 76 ,7 8 3
5,16*1,723
1 4 5 ,1 0 1
6 2 ,9 2 0 ,95*1
5 8 ,6 4 5 ,7 5 7
*»,275,197
6,659,284
1 , 521,373
126,127
1,950, 4o6
150,068
2,084,450
67,84c
4,991,567
7 4 5 ,60
s< ^
*»,5>+3
15,916
1,297
Total returns for 1935
533.631
Total returns for 193*+
528,898
*
3 1 3 ,6 7 5
173,223
1 0 5 .2 5 5
1,830,546
4 4 ,4 9 3
18,187,725
871,434
65,60 4
4 ,666,819
.
* Excess-profits
:
tax 3/
*
: '
„ ,
^timber
\
;
3 7 7 ,7 4 3
4 7 7 ,9 0 5
1 9 5 ,9 1 3
78 ,026
8 ,5 4 4 ,884
7,115,310
1,589,448
1 3 2 ,l4i
T
.
Income tax
Returns with no net income
... ” ........ ..
.•~ ani"*ti'r^bxferyr- - ' — — — t----- rz* ***9*r~
'W--.%-.. <,w'ï -^'Wr
rv
Yat^ -?/■
223,173
4 5 6 ,5 2 6
6s ,070
6 ,0 15
134,044
8 ,6 2 2
15,994
3,213
7,074
130,725
2 ,15 1
1 ,4 4 7,0 3 0
7 0 ,2 4 3
2 ,2 3 6
324,74s
6 1 ,8 6 1
13 ,8 3 0
3*19 ,6 2 7
2 5 ,39s
11,77**
2 ,206
33,l**l
10 3,8 50
9.35S
*i,7S7
56,778
3 2 ,UU9
3*1,380
¿2,182
1,9 2 2
726
9,963
2 ,0 6 3
1 ,7 0 2
8,949
1 ,0 7 1
1,394
755
2 ,1 2 8
5,772
901
4 13
2 ,742
3, i 4 i
1 ,8 7 0
5,087
443
Pennsylvania
Ehode Island
South Carolina
South Dakota
Tennessee
Texas
Ut ah
Vcrmont
Virginia
Washington
.West Virginia
Wisconsin
Wycming
P
v^ „<1*
74 3 ,8 5 7
3 ,2 9 3 ,5 1 c
941,677
Oregon
:
348,761
793,415
2,780
6,073
5,813
2 8 ,284
3,577
3,447
2 ,6 9 9
5,359
15,675
2,842
1,241
6 ,8 7 6
11,5 5 6
.
]
Net income
1,135,966
375,734
399,349
2.331
Deductions
24c, c 64
7,077
81,218
151,595
3,318,296
402,580
8 7 2 ,4 2 5
27,180
North Carolina
North Dakota
Ohio
Oklahoma
;
we
251,135
7,9i*+
85,620
1 5 8 ,6 9 6
3 ,5 8 4 ,1 6 0
440,918
1,226,404
15 9 ,2 9 0
334,609
1 7 6 ,4 3 5
1 1 2 ,3 2 9
2 ,0 1 1 / 2 7 1
46,644
19,634,755
Nevada,
New Kampshire
New Jersey
New Mexico
New York
fcL
1,3 0 6
80
466
1/
P
j
■--------------------
>iV, Vv
^
2 ,0 6 5
n ?
774
1,324
13,500
3 »6ci
5,748
1 ,6 2 8
17,677
3,713.
3,039
3 ,6 6 9
4,294
88 5
'*,*399
5,539
3, ©44
313
898
2 0 ,1 2 0
6,431
4,054
63,479
1 1 ,3 8 2
4,7bO
2,811
6,419
. 2 ,6 6 3
2,66l
3,734
2,336
3,663
13,321
3,370
‘ 5,347
1,299
4,923
1,343
7,608
827
442
1,518
1 5 2 ,0 9 3
24,710
70,422
1 ,5 0 4 ,6 2 9
1 9 ,1 1 2
10,925,741
S ;
intereSt “
°n Literty
et0- (it-
resoectivelv
11 , 920,382
306,982
41,553
1,842,111
14,973
3,375
3 ,2CS
l6,4i6
330
95.
1,159
84
4i
12
175
549
44
3,715
46,966
95,530
1,771,083
2 2 9 ,22 2
094,133
934,621
2 4 3 ,83g
2 53 ,2 5 3
313,177
2 6 ,1 0 7
50,540
3,381,361
5 0 6 ,9 8 1
282,688
275,314
206,876
326,060
195,245
679.489
1,814,879
826.489
6 73.0 4 3
96,008
1 ,260,364
5 6 ,4 4 2
1 6 5 .0 4 3
2 6 ,7 4 9
75,668
1,680,012
2 0 ,9 52
1,134,084
50.810
18,286
532
82,871
2,874
1,463
296
231,518
719,647
608,656
88,206
879
973
24,868
500,882
^
S
™ticfeT(li
329,0 96
44,605
1,993,343
5 4 0 ,O98
'234,26b
3,767,177
307,647
142,173
42,082
245,279
794,673
86,532
58,110
287,580
345,264
165,372
681,093
24,SCI
15,782
390
* 5,727
5,684
170,684
24,252
5 6 ,0 6 1
77,547
1.3,705
30,952
1 8 ,7 0 6
4,207
8.4c ^
335,000
*+2 ,0 7 3
2 3 ,89c
2 2 ,3 7c
19,173
46,257
1 6 .9 4 9
315
182
3,123
1,205
595
377
223
1,673
405
28
718
3 ,7 0 5
1,6 8 7
1,738
346
4 7c
74i
465
79.132
1 6 4 ,7 4 5
106,842
64,388
7,802
789
1,351
1 ,8 5 0
1,684
165
126,280
• 1,833
4or.
422
■ 267
62
2,398
214
10 ,56 8
365
563
5,632
12.950
2,.039
5,246
175,382
1 ,g4o
994,64i
2 2 ,ll4
3,047
151,732
3 9 ,2 1 b
2 2 ,1 3 8
248,056
36,755
7,408
3,145
1 8 ,2 2 3
1,728
635
903
2 ,9 1 9
309
259
523
417
1 ,5 3 0
490
71
U 95
19
15 6
196
135
294
757
3 ,6 3 9
6 ,1 9 6
2,32 8
8,600
13
715
710»156
2 4 ,9 6 9
3 1 2 ,8 8 2
36,494,664
39,963,438
3,468,77*+
5 6 ,5 13
588,375
7,673
32*1 ,70 3 :
37,910,299
42,091,326
4,181,027
5 9 ,0 9 4
.
2,197
1,79*+
1,421
2 ,8l4
8,373
1,451
on for*p of*
^ ^-u *
+.
,
_
,
.
4
on t
c
a
f
Interest received on certain .bligations of the United States and iti
**
^
^ not a l l c ^ d as a credit against net income in *he c o r n e t ifn of
"Regulations relating to the excess-profits tax imposed by Section 702 of the Revenue Act of 1934»)*
«
75,3^5
7,09§
4,733
39,70;
31,598
1 2 ,8 2 5
6 4 .1 3 3
uw
2,219
345
2 ,2 2 9
139
Xa
sSi
des excess-profits tax of $19 5S*1 for 1935 and 137.5*0 for 193U on returns with no net income for income tax purposes.
(bee Article 1 (d) of Treasury Decision 4469,
Deficit
2/
212,128
3,519,121
2 7 0 ,8 9 1
134,764
38,937
227,056
7 1 9 ,3*17
79,*137
53,377
2*1 7 ,8 7 7
313,667
152,5*17
6l6 ,9 6 0
23,007
2/ Excludes dividends received on stock of domestic corporations.
¥
*
;
-- ------------ ----- ^ --------- m.%.
1 ,6 5 0 ,133
1,524
2,459
474
2,198
Deductions
1/
137,697
279.303
173,297
6 0 0 ,3 5 7
8 ,76 8
18,431
1,18b
*/
:
2 15 .7 3 7
3,325
41,239
89,846
1 ,600,398
• 204,970
6 3 8 ,^ 72
8 5 7 ,0 7 4
2 3 0 ,1 3 3
2 2 7 .3 0 2
299,471
2 1,9 0 0
47,137
3,546,361
464,908
253,793
2 52 ,9 4 4
SE
1/ Gross income and deductions correspond to total income and total deductions (items l4 and 26
Gross income
i/
Number of
returns with no
income data
— Inactive
corporations
ss
----------- --
c
!
^
«
'
tL.
Corporation returns for 1935, by major industrial groups and by returns with net income and with no net income, showing number of returns, gross income,
deductions, net income or deficit, income tax and excess-profits tax
(Money figures in thousands of dollars)
Industrial groups
Total
number of
returns
::
;:
::
Returns with no net income
Returns with net income
Number
(
;
Gross income
y
[
!
Deductions
u
;
Net income
2/
Income tax
;
:
Excess-profits
tax 1 /
:
Number
Gross income
u
Deductions
;
u
270,907
;
Deficit
2/
;;
Number cf
returns with no
income data
--Inactive
corporations
lO.OgU
18,1*20
2 ,3 2 1
i*. 527
358-965
l,33ì,S5I*
3 1 5 ,061*
1 ,1 6 8 ,9 1 8
1*3 ,9 0 1
16 2 ,9 3 6
6 ,0 3 6
2 2 ,1*00
515
6 ,7 3 1
9,188
2 3 0 ,651*
1 ,2 9 2 ,8 5 3
1,166,733
1 0 ,2 5 3
1 7 3 ,8 7 9
1,029
1,7 0 5
13.375
5.312
7 .3^0 ,1131*
7 .0 22 ,7 6 3
3 17 ,6 7 1
1 3 ,6 7 0
1,584
7,283
1 ,928,025
2,013,832
55,807
780
3.282
327
1 5 ,6 5 6
2 ,1*15
632
6,81*3
2 ,3 0 6
1 ,1*66
139
6 ,1 2 9
1,0 9 0
286
2 ,3SU
1 ,2 9 6
1 ,1 0 7 ,3 0 1
1,077,781*
3,861,351
9 3 5 ,621*
6 7 1 ,g6l
73^,389
1 ,1 6 5 ,1*1*4
999 .^ 77
9 7 8 ,3 6 5
3 ,6 8 9 ,9 27
887,859
6U1 ,7 U2
6 9 6 ,1*21
1 ,0 7 3 ,1 2 3
IO7 ,824
9 9 ,1*19
17 1 ,1 2 5
1 7 ,7 6 6
3 0 ,119
3 7 ,96s
9 2 ,3 2 1
lU, 826
1 3 ,6 7 0
23,570
6 ,5 6 8
l*,ll*l
5 ,2 2 1
1 2 ,6 8 6
9O5
uu
1 ,0 3 1
198
323
222
266
1,1*81
228
9 ,2 5 1
1,2 5 8
312
1 ,19 9
938
2 1 6 ,3 9 9
33,682
2 ,01*5 ,2 2 3
228,1*36
1 1 6 ,8 8 5
583,999
3 2 6 ,IU5
232,751
3l*, 903
2 ,ll*5 ,Ugl
16,355
1 ,2 2 1
10 0 ,2 5 8
9,009
6 ,9 8 9
5 3 ,6 2 8
31,99k
335
20
273
67
3^
260
72
1 2 ,9 12
7 .9 6 9
3 .9 6 7
1 9 ,8 5 6
'
1 ,8 9 5
3 .15 6
1,253
8 ,*426
l,7*6 s,2 ll
1,515,732
769,225
1 0 ,6 5 2 ,8 72
1 ,32 8 ,171*
1*,179,601*
680,530
9 ,7 7 8 ,3 6 9
lU0 ,03 7
3 6 6 ,1 2 8
88,6 95
8 7 1 ,5 0 3
1 9 ,2 5 5
5 0 ,31*0
1 2 ,19 6
1 2 0 ,21*0
1*63
929
1*70
8,202
7,195
4, 350
2,524
1 0 ,7 0 2
5 5 9 ,8 7 6
2 ,882,520
2Ug,l*37
2 ,9 0 2 ,2 1 9
60 5,85!*
2,996,851
2 7 9 ,6 5 3
3 ,0 7 1 .3 2 7
15,978
1 11,3 3 1
3 1,2 16
1 6 9 ,1 0 8
522
U63
196
728
6 ,6 13
2 ,lUU
1 ,0 83,382
97¡*,U85
10 8 ,8 9 7
11,9 7 3
888
3 ,6 7 6
352.338
322,770
30,133
.793
Total manufacturing
9 6 ,2 1 3
37,976
35,1*13,610
3 2 ,9 3 0,83 7
2,182,773
3 11,3 5 5
15,528
5 3 .70 0
1 2 ,l*gl*,l83
1 3 ,1 5 0 ,5 1 0
6 6 6 ,3 2 6
1,5 3 7
Construction
Transportation and other public
1 7 ,6 8 7
l*,2l*2
789,599
71*0 ,3 3 8
1*9 ,2 6 0
6,772
710
11,808
703,1*28
7 5 9 .1 6 5
55,737
1,6 3 7
28,1*37
1 U9 ,1*26
10 ,60 0
6 ,5 2 0 ,0 7 1
9 2 7 ,11*1*
7 6 7 ,1*28
127,520
105,195
3,3H
11,833
87,068
5 ,06*+,703
9,91*6,860
5 .6 3 6 ,7 5 1
1 0 ,21*8 , 1 1 2
5 7 2 ,0 1 7
3 0 1 ,2 5 2
3 ,ooU
27,522,955
5,592,92b
2 6 ,8 1 5 ,5 2 8
1,12 5
57,813
1,5l5
5^,560
13,35S
1 ,203,935
1 ,6 7 6 ,1*87
1 2 7 ,1*1*8
17,511
729
36,289
1,903,725
2,172,303
2 6 8 ,5 1 8
1,913
li*3,gi*3
1 ^ ,9 6 1
33,231
I63
3 ,6 3 s, 7^7
1,771
3 ,0 3 5 .1 7 3 1 /
1,2 1 2
60 3,271*
560
82,928
77
2 ,8 8 6
6
9 1 ,7 0 2
1 ,5 6 0
1*,S61*,1*78
3 ,7 2 0
6 ,21*6 ,0 70 u/
12 ,8 8 8
1,381,593
9 ,1 6 s
18,910
13,233
5 3 3 .6 3 1
i6H,23i
7 7 ,1*1*1 ,5 0 6
7 10 ,15 6
2 1 , 969
3 1 2 ,8 8 2
3 6 ,1*91*, 661*
3,168,771
5 6 ,5 1 s
Agri culture
and related industries
Mining and ouarrying
ganufsetur1 ng.
food and kindred products
liquors and beverages (alcoholic
and non-alcoholic)
Tobacco products
Textiles and their products
Leather and its manufactures
Rubber products
Forest products
Paper, pulp, and products
Printing, publishing, and allied
industries
Chemicals and allied products
Stone, clay, and glass products
Metal and its products
Manufacturing not elsewhere
classified
utilities
Trade
Service-Profes si onal, amusements,
hotels, etc.
Finance-Banking, insurance, real
estate, holding companies, stock
and bond brokers, etc.
Nature of business not given
Grand total
7 2 ,2 7 6 ,7 8 3
5 ,1 6 1 , 7 2 3
I60
!,/ Gross income and deductions correspond to total income and total deductions (items lH and 26, respectively, on face of return) plus, in each instance, cost of goods sold and cost of operations
(items 2 and 5 on face of return), and minus interest received, on Liberty Bonds, etc.
(Item 11 on face of return), which has, however, been deducted from total income (iteti lU) so that gross
income includes'the same items as in prior years.
2 / Excludes, dividends received on stock of domestic ccrporations.
3j Includes/ excess-profits tax of $19,524 on returns with no net income for income tax purposes.
Interest received on certain obligations of the United States and its instrumentalities, which is
allowed/as a credit against net income in the computation of the income tax, is not allowed as a credit against net income in the computation of the excess-profits tax.
(See Article 1 (d),
Treasury Decision UI169, "Regulations relating to excess-profits tax imposed by Section JOZ of the Revenue Act of 193^")«
4/ Includes special non-expense deductions of life insurance companies.
2 3 7 ,1 1 5
123,275
6 3 7 .6 2 7
3 5 8 ,1 3 9
3 9 ,9 6 3 ,1 3 8
TREASURY DEPARTMENT
Washington
Press Service
No. 12-19
FOR IMMEDIATE RELEASE}
Monday, January 17, 1938
The announcement of January 15th with respect to transactions in
Government securities for Treasury investment accounts for the calendar
month of December, 1937, should he corrected to read as follows:
^Transactions in Government securities for Treasury investment
accounts for the calendar month of December, 1937, resulted in net sales
in the amount of $15,351,100*H
cOo—
V
or
commodities
f r o m the
Philippines m tm
quota
PROVISIONS OF PHILIPPINE lOTMJBSJSOE ACT AND O C H O A ® ACT OF 1935
Preliminary Figures» as of December 31* 193?
i
t
Customs District
TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
, Florida
Galveston
Georgia
Hawaii
Loa Angels*
Maryland
Massachusetts
Minnesota
New Orleans
NSW York
Oregon
Philadelphia
Puerto Hies
Rhode Island
St* Louis
San Francisco
Virginia
Washington
Wisconsin
January 1 to December 81, 1937
: REFINED t
UNREFINED
1 COCONUT OIL
:
SUGAR
s
SUGAR
I (Pounds)
i (Pounds) :
(pounds)
360,406,634
78*28#
1 1 1 ,948,648
99*93#
we
•
i
May i to^
* Dee*31« l m
CORDAGE ~~
;
(Pound« |
1,791,322,875
99*96#
se
-
4»
«6
m
m
.
*
«a
*
m
se
as
ss
8,223,271
6,933,620
36,063,400
36,446,965
US'
34,738,800
198.839,001
as
3,313,080
80,87?
m
•
m >
m
m
m
23,465,820
s*
-
13,801
269,704
l£i¿769,524
27,680,510
m
391,342,133
611,530,007
333,164
569,653,181
«•
ss
564,580
41,420,277
223
37,503
48,398,730
4»
as
as
«*
3,634,133
35,494,128
e*
236,723
*
3,569,134
59*49^
130,066
44,466
5,329
8 ,1 1 2
6,157
134,155
289,647
4*
m
145,256
9,964
883,609
147,586
*»
383,737
14,769
44,286
1,161,878
21,339
132,966
5,362
(Prepared by Division of Statistics and Research« Bureau of customs)
II
The Conaaiasioner of Customs today announced preliminary
H;
figure© for import© of cacsnodities coming into the United States
from the Philippine Islands under the quota provision© of the
Philippine Independence Act, during the calendar year 1937, and
under the Cordage Act o f 1938, during the period May 1 to December
31, 1937, also the percentage that euch imports hear to the totals
allowable under the quota provisions, as follows:
Ste
MR* GASTON
(Attention of Mr* Schwarz, Boo®
289%
Treasury Building)
FROM THE COMMISSIONER OF CUSTOMS:
There is attached a tabulation for Immediate release shoving
preliminary figures for imports of commodities coming into the
United States from the Philippine Islands, under the quota prorisions of the Philippine Independence Act and the Cordage Act of 1935,
as of December 31, 1937.
/
When this tabulation has been mimeographed, please hate 90
copies forwarded to Mr. Freeman, Room 415, Washington Building.
ju
lA s/sa
TREASURY DEPARTMENT
Washington
!>0R RELEASE » MORNING NEWSPAPERS,
'PuRsday. January 18, 1938._____
Press Service
No. 12-20
1717758
The Commissioner of Customs today announced preliminary figures for imports
of commodities coning into the United States from the Philippine Islands under the
quota provisions of the' Philippine Independence Act, during the calendar year 1937,
and under the Cordage Act of 1935, during the period May 1 to December 31, 1937,
also the percentage that such imports hear to the totals allowable under the quota
provisions, as follows:
J anuary 1 to December 31, 1937
: REPINED : UNREFINED
: COCONUT OIL :
SUGAR
:
SUGAR
: (Pounds)
: (Pounds) :
(Pounds)
:
May 1 to
: Dec. 31, 1937
CORDAGE
:
:
(Pounds)
:
Customs District
TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
Florida
Calvoston
Georgia
Hawaii
Los Angeles
Maryland
Massachusetts
Minnesota
New Orleans
New York
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Louis
San Francisco
Virginia
Washington
Wisconsin
350,406,634
78.22$
.
111,945,648 1,791,322,875
99.96$
99.95$
—
—
—
_
~ .
—
—
—
-
-
~
8,223,271
6,935,620
36,063,400
«
54,758,800
198,839,001
3,513,080
50,877
564,580
41,420,277
225
37,503
A
36,446,965
—
—
23,465,820
_
«
—
—
13,801
269,704
154,769,524
27,680,510
«
391,342,133
611,530,007
333,164
569,653,181
3,634,133
—
35,494,128
48,398,730
236,723
—
-
-
«— oOo—
-
3,569,184
59.49$
130,066
44,466
5,329
8,112
6,157
134,155
289,647
—
—
145,256
9,964
883,609
147,586
»
383,737
14,769
44,286
1,161,878
21,339
132,966
5,862
.IMPORTS OF DOUGLAS FIR AND WESTERN HEMLOCK UNDER THE QUOTA
PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Preliminary Figures for the Calendar Year
Customs District
TOTAL IMPORTS
Per Cent of Quota
: Sawed Timber
: DOUGLAS
:
:
FIR
:
: (Bd.Ft*) :
92,833,309
1937
& Lumber Not Specially Provided For:
WESTERN
: • MIXED FIR : •TOTAL FIR
HEMLOCK
: & HEMLOCK : & HEMLOCK
(Bd.Ft*) : (Bd. Ft.)
: (Bd. Ft.)
18,988,077
28,080,902
336,391
2,028,675
3,008,144
50,008
139,902,288
55,96$
FROM CANADA
Alaska
Buffalo
Connecticut
Dakota
Duluth & Superior
Hawaii
Los Angeles
Maine and N. H.
Massachusetts
Michigan
Montana & Idaho
New York
Philadelphia
Rhode Island
St, Lawrence
San Francisco
Vermont
Washington
107,318
1,405,450
2,605,776
14,173,677
10,218,678
597,434
8,591,566
105,288
6,458,957
43,274
8,118
22,774,551
11,628,151
748,443
99,065
8,813
1,335,447
11,863,303
-
616,405
2,760
7,782,802
258,185
-
3,697,808
487,677
—
654
63,000
705,576
•
-
.
»
756,271
»
116,265
-
27,158,358
»
»
-
-
107,318
1,851,849
2,605,776
16,202,352
13,226,822
597,434
9,964,242
108,048
14,358,024
301,459
8,118
49,932,909
15,325,959
1,236,120
99,065
9,467
1,398,447
12,568,879
(Prepared by Division of Statistics and Research, Bureau of Customs)
The commissioner of customs today announced preliminary
figures for imports of Douglas fir and Western hemlock, under the
quota provisions of the Canadian Trade Agreement, during the
calendar year 1937, and the percentage that such imports hear
to the total allowable under the quota provisions, as follows:
OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta
JAN 1 8 1938
MR* GASTON
(Attention o f Mr* Schwarz, Room 289, Treasury Building)
FROM THE COMMISSIONER OF CUSTOMS:
There i s attached for immediate release a tabulation showing
preliminary figures for imports of Douglas f ir and Western hemlock,
under the quota provisions of the Canadian Trade Agreement, during
the calendar year 1937*
When the release has been mimeographed, please have 125 copies
forwarded to Mr. Freeman, Room 415, Washington Building*
TREASURY- DEPARTMENT
W a sh in g to n
P ress
No.
JOB RELEASE, MORNING- NE’VSPARER S,
Tuesday, J a n u a r y 1 8 , 1 9 3 8 .
S e rv ic e
12-21
ïjW]æ
The C o m m i s s i o n e r o f
and W est e r n h e m lo c k ,
of Douglas f i r
Trade A g r e e m e n t ,
ports b e a r t o
Custom s
th é
a llo w a b le under
to tal
TOTAL IMPORTS
Per Cen t o f Q u o t a
under
th e c a le n d a r y e a r
d u rin g
Customs D i s t r i c t
announced p r e lim in a r y f i g u r e s
tod ay
:
ï
:
:
th e
q u o ta p r o v is io n s
and t h e p e r c e n t a g e
1937,
th e q u o ta p r e v is io n s ,
Sawed T im ber & L im b e r N ot
DOUG-LAS
;
WESTERN
:
FIR
:
HEMLOCK
:
(B d .F t.)
ï
(E d .F t.)
:
9 2 ,8 3 3 ,3 0 9
o f th e
fo r
im p o rts
C a n a d ia n
th at
such in -
as fo llo w s :
S -o e c ia lly P ro v id e d E o r:
:
TOTAL F I R
MIXED E I R
:
& HEMLOCK
& HEMLOCK
:
(Bd. F t . )
I lf* E t.)
1 8 ,9 8 8 ,0 7 7
2 8 ,0 8 0 ,9 0 2
3 3 6 ,3 9 1
5 0 ,0 0 8
13 9 ,9 0 2 ,2 8 8
5 5 .9 6 $
PROM CANADA
A laska
B u ffa lo
C o n n ecticu t
Dakota
Duluth & S u p e r i o r
WmâÈi
Los A n g e l e s
Maine a n d N. H.
M assachusetts
Mi c h i g a n
Montana & I d a h o
New Y o r k |
P h ila d e lp h ia
Rhode I s l a n d
St. L a w r e n c e
San F r a n c i s c o
Vermont
W ashington
10 7 ,3 18
1,4 6 5 ,4 5 0
2 ,6 0 5 ,7 7 6
14 ,17 3 ,6 7 7
1 0 ,2 1 8 ,6 7 8
5 9 7 ,4 3 4
8 ,5 9 1,5 6 6
10 5 ,2 8 8
6 ,4 5 8 ,9 5 7
4 3 ,2 7 4
8 ,118
2 2 ,7 7 4 ,
1 1 ,6 2 8 ,1 5 1
7 4 8 ,4 4 3
9 9 ,0 6 5
8 ,8 13
1,3 3 5 ,4 4 7
1 1 ,8 6 3 ,3 0 3
—
2 ,0 2 8 ,6 7 5
3 ,0 0 8 ,1 4 4
-
6 16 ,4 0 5
: 2 ,7 6 0
7 ,7 8 2 ,8 0 2
2 5 8 ,18 5
0
3 ,6 9 7 ,8 0 8
4 8 7 ,6 7 7
654
6 3 ,0 0 0
7 0 5 ,5 7 6
— 0O0—
7 5 6 ,2 7 1
116 ,2 6 5
—
—
2 7 ,15 8 ,3 5 8
»
—
—
10 7 ,3 18
1,8 5 1,8 4 9
2 ,6 0 5 ,7 7 6
16 ,2 0 2 ,3 5 2
13 ,2 2 6 ,8 2 2
5 9 7 ,4 3 4
9 ,9 6 4 ,2 4 2
10 8 ,0 4 8
1 4 ,3 5 8 ,0 2 4
'
3 0 1,4 5 9
8 ,118
4 9 ,9 3 2 ,9 0 9
1 5 ,3 2 5 ,9 5 9
1,2 3 6 ,12 0
9 9 ,0 6 5
9 ,4 6 7
1,3 9 8 ,4 4 7
12 ,5 6 8 ,8 7 9
IMPORTATION OF DAIRY COWS, CREAM AND CERTIFIED SEED POTATOES
ORDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Preliminary Figures as of December 31, 1937
i
Customs District
:
:
:
January 1 to December 31* 1 9 3 7 r t
a
a
DAIRY COWS
700# OR MORE
i
CREAM
:
(Head)
!
(Gel.)
:
oee. l-31.1337
WHITS OR IRISH
SEED POTATOES
TTT-r-r(Pounds)
Yt
i j_
t
TOTAL IMPORTS
Per Cent of Quota
6,753
33.8$
137,850
9 .3*
t
3,610,730
5.«
FROM CANADA
Alaska
Buffalo
Dakota
Duluth & superior
Florida
Maine and N. H.
Massachusetts
Michigan
Montana and Idaho
Oregon
St, Lawrence
Vermont
Washington
as
93
155
3
745
30
1
54
1
1,003
3,563
1,105
13
38
436
_
as
4
7
-
4ft
8,497,480
28,970
90,280
as
as
*
39
136,631
-
4ft
4»
4»
*
a»
*
FROM OTHER COUNTRIES
New York
Puerto Rico
m
m
185
573
(Prepared by Division of Statistics and Research, Bureau of Customs)
m
The Commissioner of Custom» today announced preliminary
figures for imports of dairy sows and cream, under the quota pro
visions of the Canadian Trade Agreement, during the calendar year
1937; also« for imports of certified seed potatoea during the first
month of the quota year which, under the provieions of the trade
agreement, commenced December 1, 1937; together with the percentage
that such imports bear to the totals allowable under the quotes,
as follows:
Sta
MR. GASTON
(Attention of Mr. Schwarz, Room 289» Treasury Building)
FROM THE COMMISSIONER OF CUSTOMS:
There is attached for immediate release a tabulation showing
imports of dairy cows» cream and certified seed potatoes» under
the quota prowlsions of the Canadian Trade Agreement» as of
December 31» 1937.
When the release has been mimeographed» please hawe 125 copies
forwarded to Mr. Freeman» Room 415» Washington Building.
TREASURY DEPARTMENT
Washington
Press Service
No. 12 - 22
FOR R3LEASE, a f t e r n o o n n e w s p a p e r s ,
Tuesday, January 18, 1938.
ißw
The Commissioner of Customs today announced preliminary figures for imports
of dairy cows and cream* under the quota provisions of the Canadian Trade Agreecent, during the calendar year 1937; also, for imports of certified seed potatoes
during the first month of the quota year which, under the provisions of the trade
agreement, commenced December 1, 1937; together with the percentage that such
inports bear to. the totals allowable under the quotas, as follows:
Customs District
TOTAL IMPORTS
Per Cent of Quota
:
January 1 to Decernber 31, 1937
DAIRY COWS
:
CHKAM
700# OR MORE
:
(Head)
:
(Sal.)
137,850
9.2$
6,752
33. 8$
Dec. 1-31,1937
WHITE OR IRISH
SEED POTATOES
(Pounds)
2,610,730
5.8$
PROM CANADA
Alaska
Buffalo
Dakota
Duluth & Superior
Plorida
Maine & N. H. '
Massachusetts
Michigan
Montana and Idaho
Oregon
St. Lawrence
Vermont
Washington
M
»
745
30
1
54
1
1,002
3,563
1,105
—
7
«-»
29
136,621
-
_
—
2,497,480
22,970
90,280
**
-
OTHER COUNTRIES
New York
Puerto Rico
—
12
28
426
93
155
3
155
572
-
- ____________________
— oO o*
-
f m m m
M
FQM M M 0 S »
ü
M
tnwv
I
Press Sorrise
MQRHB& » 1 P I 8 8
. Jamttury 18, 1438»
Acting saeratary Ungili
lX ~ 2 }
lust «waning tfeat tit®
for
#50,000,000» or tbareaboats, of 91-day Traaatsry bilia» to bo dated ¿Tannar? 19
and to satura April 80f
at
the
1938,
which were offered on ¿sumar? 14» were opened
Federal Reserve banka m January 17,
The detail» of this leáis» are ae follones
Total applied for
Total accepted
# #100*075*000
*
50*180*000
lang» of aeeapted bldai
High
low
Araraga pria#
» 99*988 Boiraient rata approxiiaately 8*071 pere«^
* 99*971
*
*
*
0,110
«
* 99,978
*
*
*
0,111
*
(94 pereant of tit m am t bid for at the low prioa was accepted)
TREASURY DEPARTMENT
Washington
JOE RELEASE, MORNIN& N3WSPAPSES,
Tuesday, January 18, 1930.
1/17/38
Press Service
No. 12-23
Acting Secretary Magi11 announced last evening that the tenders for
$50,000,000, or thereabouts, of 91-day Treasury hills, to he dated
January 13 and to nature April 20, 1338, which were offered on January 14,
were opened at the Federal Reserve hanks on January 17.
The details of tins issue are as follows:
Total applied for
Total accepted
- $160,075,000
50,130foCO
— oOo—
TREASURY DEPARTMENT
Washington
POR RELEASE, AFTERNOON NEWSPAKBIS
ffririav. January 21, 1938.
17X8738;
Press Service
No. 12-24
Secretary of the Treasury Morgen than, today made public the second
in the series of tabulations from the ,fStatistictf of Income for 1935,
Part 2, Compiled ifrom Corporation Income and Excess-Profits Tax Returns
and Personal Holding Company Returns for 1935n, prepared under the direc
tion of Commissioner of Internal Revenue Guy T. Helvering.
The following table presents for corporation returns for 1935,
classified by major industrial groups and subgroups and by returns with
net income and with no net income, the number of Returns, gross income,
net income or deficit, income tax and excess-profits tax:
Corporation returns for 1935
major industrial groups and subgroups and by returns with, net income and with, no net income, showing number of returns, gross income,
net income or deficit, income tax, and excess-profits tax
y
(Money figures in thousands of dollars)
*
, 1
T l„. ,
Industrial groups
•...
::
Total
number of
_ ,
returns
’'
::
„ ,
Number
Gross income 1/ :
Net income 2/ :
Income tax
Excess-profits
tax i/
::
:;
Deficit 2/ :;
::
Returns with no net income
•♦i
Returns with net income
Number
:
Gross income l/ :
Number of returns
with no income
data— Inactive
corporations
::
::
::
::
AGRICULTURE AND RELATED INDUSTRIES:
8,659
2 ,0 3 2
3 2 1 ,6 2 1
40,835
5,615
132
5,227
194,951
29,200
794
1
1^25
283
3 7 .3“*
3 ,0 6 6
421
28
907
35,703
11,053
to»
r-O
CM
Farming— Cotton, grain, stock; horticulture and all other farming; lessors
Related industries— Forestry, fishing,
ice harvesting, and other related in
dustries; holders and lessors
Total agriculture and related
industries
2
10,084
2 ,3 2 1
3 5 2 ,9 6 5
43,901
6 ,0 3 6
160
6,734
230,654
40,253
1,029
908
239
3 12 ,12 6
5^,391
7,*+79
122
b$i
2 2 1 ,2 2 6
23,409
18
3
123
2,012
4, 286
42
591
1 ,7 1 9
37,027
3 5 8 ,1 6 8
172
2,690
7,327
3
60
215
76
1,324
2,535
194,914
410,329
362,434
17,373
35,142
59,292
5
4
4 2 7 ,7 15
1,248
19,566
53,31*+
37
32
5
6
1,265
581
1 4 9 ,5 9 4
12,157
2 ,4 9 7
65
1,242
21,435
11,195
42
7
9 ,2 2 6
18,420
1,355
4,527
47,224
2 ,2 3 6
22,400
50
5 15
3,300
9,188
2 2 ,5 1 6
1,292,853
27,468
173,279
4 ,5 7 1
8
1,331,85^
1 6 ,2 6 0
1 6 2 ,9 3 6
4 ,7 0 5
4,030
1,3 1 6
9 2 1 ,3 2 8
6 3 ,6 4 5
8,751
92
2,472
3 7 0 ,52 0
13,329
242
9
1,959
1,339
772
613
6 68 ,945
241,779
5 4 ,9 4 7
34,244
7,555
4,709
176
203
1,053
632
1 6 4 ,2 9 4
2 3 9 ,2 2 2
6,so4
6,008
134
94
10
11
975
166
i+99
3,051,723
46 6 ,8 3 3
53,^7
3 6 ,3 2 2
7.35*+
4 ,9 9 1
771
149
450
62
64o,484
146,258
9,864
3,099
26
17
12
13
1 ,3 2 9 ,2 2 5
7 ,3 4 0 ,4 3 4
75,026
317,671
10 ,3 0 9
43,670
188
1,584
2,6 i 4
7,283
4 2 6 ,5 8 7
1 ,9 2 2 ,0 2 5
1 6 ,7 0 2
5 5 ,2 0 7
267
780
MINING AND QUARRYING:
Metal mining— Iron, copper, lead, zinc,
gold, silver, quicksilver
Coal:
Anthracite
Bituminous, lignite, and peat
Oil and gas
Other minerals— Asbestos, clay, granite,
precious and semiprecious stones, salt,
etc.
Mining and quarrying, n.e.c., lessors
and holders
Total mining and quarrying
MANUFACTURING:
Food and kindred products:
Bakery and confectionery products
Canned products— Fish, fruit, vege
tables, poultry, etc.
Mill products— Bran, flour, feed, etc.
Packing-house products— Fresh meats, ham,
lard, bacon; meat canning, by-products,
etc.
Sugar— Beet, cane, maple, and products
Other food products— Artificial ice,
butter substitutes, cereals, coffee,
spices, dairy products, etc., food
pro due t s , n .e .c.
Total food and kindred products
Liquors and beverages:
Soft drinks— Cider, mineral or spring
water, etc.
Liquors— Wines, beer, malt extract, malt
yeast, alcohol, etc.
Total liquors and beverages
Tobacco products
Textiles and their products:
Cotton goods— Dress goods, plain cloth,
etc., napping and dyeing
Woolen and worsted goods— ’Wool yarn,
dress goods; wool pulling, etc.
Silk and rayon goods— Silk fabrics;
spinning, etc.
Carpets, floor coverings, tapestries,
etc.
Textiles, n.e.c., cord, felt, fur, hos
pital and surgical supplies, linen,
other textiles, etc.
Clothing— Custom-made, factory-made
coats, underwear, millinery, and
clothing, n.e.c.
Knit goods— Sweaters, hosiery, etc.
Total textiles and their
products
For footnotes, see p. 5*
4 ,9 0 6
13,375
S7
M t e 2 ,025m 5 ,3 12
•
l4
1,745
866
14 3,0 2 0
2 1 ,5 0 3
2,957
222
805
36,445
2,945
74
15
1,537
3 ,2 2 2
327
b00
86,3 20
107,824
9 9 ,4 1 9
11,8 6 9
14,826
1 3 ,6 7 0
179,954
216,399
3 3 ,6 2 2
13,4io
16,355
1,221
16
905
44
676
1,481
228
261
139
964,281
1,107,301
1,077,784
684
1,466
335
20
17
937
373
435,437
17,7^3
2,44o
23
548
477,067
28,oo4
16
18
566
312
4 5 4 ,4 2 2
25,009
3 ,**39
256
240
9 8 ,0 10
5 ,5 12
l4
19
279
243
3 2 1 ,5 0 0
21,127
2 ,9 0 5
22
6ll
19 6 ,4 11
1 5 ,3 2 9
25
20
176
60
137.913
7,997
1,10 0
31
112
30,503
2,001
4
21
3,770
1,559
837,485
4 9 ,10 1
6,751
377
2,l46
384,174
20J02
65
22
8 ,0 10
1,3 12
2 ,9 2 1
601
1 ,2 8 7,9 4 7
386,64s
3“+,952
15.^95
4,806
2,130
242
84
4 ,9 1 1
686
651,274
207,724
19,470
9,241
118
23
24
15 ,6 5 6
6 ,12 9
3,261,351
171.^25
23,570
1,034
9 ,2 5 4
2 ,0 4 5,2 2 3
10 0 ,2 5 8
273
31
2.
Corporation returns for 1935 by niajor industrial groups end subgroups and by returns with, net income and with no net income, showing number of returns, gross income,
net income or deficit, income tax, and excess-profits tax - continued
(Money figures in thousands of dollars)
---- .--- -------------l
Industrial groups
::
*;
;*
Total
number of
returns
Returns with net income
:
*
*:
Number
Gross income 1/ :
Net income 2/ :
Returns with
Income tax
Excess-profits
t ox 3l/
*’
Number
:
id
net income
::
Gross income 1J :
Deficit 2/ ::
Number of returns
with no inoome
data— Inactive
corporations
::
::
::
::
MANUFACTURING - Continued
2b
27
28
29
32
33
3I4
37
3s
39
4o
4i
U3
Ml
to
*7
Us
49
50
51
52
For footnotes,
see p. 5*
552,076
28,281
3,289
91
591
1 3 0 .2 7 6
5,215
38
25
1,281
525
377,5^2
19, *+25
2 ,6 7 9
107
667
9 8 ,1 6 0
3,79*+
29
26
2,^15
1,0 9 0
935,62*+
*+7,766
6 ,56g
192
1 ,2 5 8
2 28 .436
9,009
67
92
27
4g4, 606
i6 ,o*+6
2 ,20 6
60
71,946
4,058
5
27
uit
123
. 632
211
4s
286
15 2 ,0 2 1
35,285
6 7 1,8 6 1
1 1 ,05*+
94
22
323
182
70
312
34,836
24
28
3 0 ,119
1 ,5 2 0
415
4,i4i
1 0 ,1 0 3
1 1 6 ,8 8 5
6,929
3^
3 ,0 7 2
1,024
3 0 9 ,*+15
1 6 ,0 2 0
2,203
73
1,915
3 1 0 ,0 7 9
34,6l4
133
30
II 771
1 ,3 6 0
2,384
1,2 9 6
*+2*+,973
3,018
5 ,2 2 1
1 2 ,6 8 6
149
222
266
2,284
4,199
938
273,920
523,999
3 2 6 ,1*45
19,015
53,628
31,99*+
127
260
72
31
1 ,1 6 5 ,T O
2 1 ,9*+8
37,962
92,321
M 9 5
1 ,*+6 8 , 2 1 1
l*+0,037
19 ,2 5 5
463
7 ,4 9 5
559.276
45,978
522
33
2 ,30 b
12 ,9 12
734,529
3,020
29
32
853
30*+
1,77*^,092
6 3 ,*+27
2 ,7 3 0
145
447
2,403,014
3 4 ,6 9 2
102
34
63I
32*+
657,526
96,020
1 3 ,2 0 3
17s
1—
C\J
36
505
j=jr
35
1 ,13 ^
r—
0
OJ
25
Leather and its manufactures:
Boots, shoes, slippers, etc.
Other leather products— Gloves, sad
dlery, harness, trunks, finishing
and tanning leather, etc.
Total leather and its manu
factures
Rubber products:
Tires and tubes, etc.
Other rubber goods— Boots, shoes, hose,
and artificial rubber
Bone, celluloid, and ivory products
Total rubber products
Forest products:
Saw-mill and planing^-mill products
Other wood products— Carriages, wagons,
furniture, baskets, etc.
Total forest products
Paper, pulp find products
Printing, publishing, and allied in
dustries
Chemicals and allied products:
Petroleum and other mineral oil
refining
Chemicals proper, acids, compounds,
etc.
Paints, pigments, varnishes; carbon
black, lamp black, putty, rosin,
turpentine
Allied chemical'substances— Drugs,
oils, soaps and other chemical
substances, m e . c .
Fertilizers
Total chemi cals and allied
products
Stone, clay, glass, and related
products
Metal and its products:
Iron and steel— Products of blast
furnaces, rolling mills, foundries,
etc.
Locomotives and railroad equipment
Motor vehicles, complete or parts
Factory machinery— Food production
machinery; leather, metal, paper,
printing, textile, and woodworking
machinery
Agricultural machinery and equipment
Electrical machinery and equipment
Miscellaneous machinery— Building
construction, gas, and mining ma
chinery and equipment
Household machinery and equipment, etc.
Office equipment, etc.
Metal building material and supplies
Hardware, tools, etc.
Precious-metal products and
processes; jewelry, etc.
Other metals, products, and processes;
combinations of foundry and machine shop
Total metal and its products
36,977
2,736
33
35
1,098
5pp
31+5, Ui+6
3 2 ,0 0 7
4,4oi
169
521
4 5 ,9 8 8
3,419
55
36
4,986
401
1,81*4
192
1,652,361
i i 6,2*+6
1 6 7 ,*428
7,127
2 3 ,0 1 s
988
' 393
45
2,913
195
339,792
5 6 ,7 5 0
2 0 ,0 7 3
3, *+H
259
14
37
38
7,969
3,156
4,545,732
366,128
50,340
929
4,350
2,882,520
11*4,331
463
3,967
1,253
7 6 9 ,2 2 5
88 ,6 9 5
1 2 ,19 6
470
2,524
248.437
3 1,2 16
190
39
2,19*+
196
873
973
65
325
1 ,8l6,*+02
31,846
3,932,329
23,925
11,548
,563
■ 3 6 ,1 3 3
538
, 17
4 ,9 2 2
1,111
124
497
1,231,173
13 1,2 11
274,201
42,617
10 ,4 3 1
22,218
110
7
51
4e
41
42
1,528
7*+0
22*4
313
370,797
367,590
603,808
*41, *417
'
4 6,-979
531
196
88
755
23?
354
113,802
9,525
3,880
8 ,16 2
33
39
25
to
976
488
177
607,313
377,H2
54,694
32,477
253,104
96,8 68
27,936
166,743
1 6 4 ,5 5 0
112
32,737
3 0 ,6 2 6
1,327
753
216
1 ,3 1 6
1,275
19,537
6,559
4'M
46q
94
95
214
624
2,929
11,814
72
12 ,3 6 1
110
46
*+7
4g
*+9
50
502
692
2,415
1,281
*4,094
262,782
6l,0lS
5 ,693.
6,460
2,390
v• ;
44,236
167,319
45
2,195
2,7*45
1 ,3 6 0
715,2*+b
72,643
7 ,5 2 0
5 ,2 9 1
4 ,5 0 1
4,211
10,813
859
302
2*+*+,ISO
1 0 ,8 3 3
1 ,4 9 0
32
542
57,297
3,257
15
51
3,976
1,676
8 ,*+26
1,328,293
1 0 ,6 5 2 ,8 7 2
12 8 ,2 17
8 7 4 ,50 3
1 7 ,6 5 0
120,240
375
8,20 2
2,193
1 0 ,7 0 2
174,179
2 ,9 0 2 ,2 1 9
>257
1 6 9 ,1 0 8
107
728
52
19,256
4oo
807
4o
7
3Corporation returns for 19 3 5 "by major industrial groups and subgroups and by returns with net income and with no net income, showing number of returns, gross income,
net income or deficit, income tax, and excess-profits tax - continued
(Money figures in thousands of dollars)
Industrial groups
**
’*
t
Total
number of
returns
Returns with net income
:
Number
: § Gross income 1/ :
Net income 2/
::
Income tax
:
Excess-profits
tax 3 /
:;
Returns with no net income
Number
Gross income 1/ :
::
Deficit 2/ ::
Number of returns
with no income
data— Inactive
corporations
MANUFACTURING - Continued
53
5^
55
Manufacturing not elsewhere classified:
Radios, complete or parts
Musical, professional, and scientific
instruments, optical goods; canoes;
electric launches, etc.
Airplanes, airships, seaplanes, etc.
Total manufacturing not elsewhere classified
Grand total manufacturing
I
I
252
11*4
1 2 6 ,5 6 0
8,319
1,1*4*4
1*43
125
6 8 ,9*17
3,858
13
97,51*1
3 ,06*4
13, *408
*421
679
3 .**59
92
2 5 5 ,6 0 2
2 7 ,7 8 8
22,1*4*4
*4,U30
753
27
6 ,2 1 7
2 ,0 0 5
lUU
25
933.0*13
23,779
6 ,6 1 3
2,1*4*4
1,083,3*2
1 0 8 ,8 9 7
1*1,973
888
3 ,6 7 6
352,338
3 0 ,1*33
793
12, *48*4,183
6 6 6 ,3 2 6
*i,537
66
53
5)4
55
9 6 ,2 1 3
3 7 ,9 7 6
3 5 ,1113 ,6 10
2,1182,773
3*11.355
1 5 ,5 2 s
53,700
1 1 ,1 6 9
2,5»i7
261,081
9 ,2*4*4
1,271
9*4
7.831
3 1 5 ,1 7 6
2 2 ,3 6 3
791
56
6,303
215
1 ,63*1
*4-5 6 ,8 8 0
608
8
1 7 ,6 8 7
*1.9*15
556
6,772
710
1*41
11,808
338,U83
*19.769
703, *428
28,620
**.751*
55,737
833
7 1 ,6 3 7
7 3 9 ,5 9 9
3 5 ,9 6 9
*1.0*17
*49,260
3 .8 3 6
6l
*4,2*42
57
52
576
199
99*1-37*1
1 0 1 ,3*49
1*4,023
67
373
2,859,572
3 0 0 ,6 3 1
*4
59
1.383
369
27*1,183
7 5 ,2 3 8
1 0 ,3 6 6
29
520
*488,90*4
86,938
*49*4
60
390,786
28,136
*1 5 .9 1 7
i.3*H
6,31*4
18*4
215
11
1 ,1 7 0
367
2 3 7 ,0 6 0
1*2 ,9 6 9
*4,006
221
16,6*47
113
61
62
1 8 0 ,7 9 0
19.725
2 ,7 1 0
128
1 ,6 7 5
90, *137
10,390
263
63
6*4
CONSTRUCTION:
56
57
58
Building and construction above ground—
Installing machinery, moving, wrecking,
rasing., etc.
Other construction underground and on
surface— Bridge building, waterfront
construction, related industries, etc.
Shipbuilding and repairing
Total construction
13
1 ,6 3 7
TRANSPORTATION, A$p OTHER PUBLIC UTIIJIIES:
59
60
61
62
63
6*4
65
66
6?
68
69
70
71
Transportation and related activities:
Steam railroads
Electric railways— Pullman cars; refrigerator, stock, poultry, and
fruit cars; lessors
Water transportation and related activities— Ocean and fresh-water
lines, canals, docking, drawbridge
operating, lighterage, salvaging,
piloting, wharfing; lessors
Aerial transportation
Autobus lines, taxicabs, and sightseeing companies
Cartage and storage— Food storage;
packing and shipping; local transportation and related industries,
n.e.c.
Total transportation and related activities
Other public utilities:
Electric light and power companies,
and combined electric light and
gas companies
Gas companies, artificial and natural
Pipe line companies
Telephone and telegraph companies
Radio broadcasting companies
Water companies
Terminal stations, toll bridges and
toll roads, irrigation systems, etc.
Total other public utilities
Total transportation and other publie utilities
For footnotes, see p. 5 .
-1
2,259
5%
868
2,821
883 -— *4
65
if
'1
1 0 ,2 6 1
3.77S
Uih,U85
3 0 ,2 0 2
*4 ,15 0
2*41
5,875
397,658
20,86*4
608
1 7 ,8*15
6 ,1 6 2
2,282,753
273,772
3 7 .7*17
690
9,980
¡1 ,0 9 0 ,2 7 9
**6 5 ,7 9 8
1,703
3 9 ,3 7 6
565
507
1*6 3 ,0 3 9
225,918
30,818
283
86
3*4
1 ,8 9 9
222
736
1 5 1 ,5 7 6
3 6 ,1*39
29,026
3,505
1 1 ,5 2 9
2 ,0 1 5
2 ,7 2 1
67
2*40
U5
69
270
70
3^3
71
1 ,3 0 1
3 ,00*4
1 ,6 2 1
1 .0 0 7
773
*41*4
2 ,0 3 1 ,6 5 3
*40*4,393
2 8 6 ,3 9 9
*4 7,8 5 6
283
3.502
505
2,01*4
1*45
298,6*4-5
1,188,185
98,253
1 3 ,5 1 0
1 6 1 ,3 6 3
11,880
1 *4 ,70 9
22,187
1 ,63*1
2,020
58
98
123
5
81
21
3 2 ,9 1 1
6 5 3 ,3 7 2
*1 ,5 2 6
89,833
*49
820
7 6 ,1*96
*1 .2 3 7 ,3 1 7
U36
’i, 853
97*1. *125
2 1 ,0 1 6
1 0 6 ,2*49
6 ,5 2 0 ,0 7 1
927,1*4*4
127,580
1.125
lu ,833
5 ,0611,703
5 7 2 ,01*7
1 ,6 6 0
10,592
28,^37
1,363
23s
1,008
U 97
**.**3S
1 0 ,6 0 0
8 6 ,1 7 6
77.101
1 5 1 ,1 6 0
6,580
10*4
10,681
1 5 .8 9 6
65
66
68
Corporation returns for 1935 Oy major industrial groups and subgroups and by returns with, net income and with no net income, showing number of returns, gross income,
net income or deficit, income tax, and excess-profits tax - continued
(Money figures in thousands of dollars)
Industrial groups
Total
number of
returns
Returns with no net income
Number
Gross income 1/ :
Net income gj :
Income tax
Excess-prof it s
tax 3 /
Number
:
Gross income 1/ :
Deficit 2/
Number of returns
with no income
data— Inactive
corporations
TRADE:
Wholesale
Retail
Wholesale and retail
Commission
All other trade— Auto wreckers, film ex
changes, pneumatic tubes, trading
stamps, garages for storage, repair
service, etc.
Total trade
2^C,179
29,072
So,27O
1 8 ,8 5 0
6 ,1 3 0
13,64o
31,379
8 ,19 1
2,489
11,8X6,255
1 1 .1 7 U .7 9 7
3,793.353
542,704
36I+;432
1 1 U J 65
3 3 .0 3 5
9 ,io4
149,426
2,114
57,«13
255,8^7
27,582,955
1 5 .0 1 6
767,42g
2U . 3 1 1
4,747
6 1 8 ,6 7 8
5M3
259
3 ,8 11
93
69
1,727
5,673
10,286
33,013
5 0 ,1 0 2
1,372
1,266
1^,725
15 ,77 3
5.5^2
443
52,173
3 ,^0 3 ,5 2 3
4 ,iso,072
l6b
10,3b9
3,3^1
1 ,«97.370
2i3,%7
2,o6U
1 0 5 ,U95
64
3 ,3 H
8 7,0 6 8
9 , 9 4 6 , s 6o
301,252
4,Ü+5
33,269
4,574
175
18,686
1 ,227 ,8 8 5
1 9 3 ,9«4
87g
77
,9,153
147,227
27S, 875
933
«,524
22,795
128
1,17 2
3,133
2
46
137
294
156
1,9 0 1
,9,127
66,532
19 6 ,9 16
2,549
i 45
2 0 ,2 3 1
183
7«
79
80
73,417
508,673
. «,19«
4o,449
1,125
5,55«
50
235
3, «32
6 ,17 2
83,301
355,«75
11,509
37,9«7
947
1,3 3 1
81
2,7«3
7.3UU
1,995
1 3 9 ,4 4 3
13 ,2 6 6
1,824
123
4 ,3 6 8
11 4 ,5 1 2
18,880
981
82
7,087
2 ,2 2 3
4 2 6 ,6 2 3
29,992
4,120
151
3,937
137,442
11,401
927
«3
. 5,532
1 ,6 1 0
110,518
10,471
1 ,4 3 «
45
3 ,12 6
6 8 ,0 7 1
6 ,2 6 6
796
84
5^,560
13,35«
1 ,«03,935
127,44s
17 ,5 14
729
3 6 ,289
1 ,903,7«5
26 8 ,5 1 s
4 ,9 1 3
6,5^9
1,999
177,569
23,719
3 ,2 6 0
119
3,901
539,472
145,238
649
«5
13, “«5.7
44
3,722
2
155,725
34s
2 2 ,5 5 6
39
3,101
3
i 45
7,282
38
499,821
4,197
141,589
1 2 ,0 9 3
2,483
4
86
«7
5 5 5 ,2 6 2
l4o,70 5
19,347
744
11,462
2 0 1 ,2 1 7
1 0 3 ,2 6 8
3,7«2
ÓO
9 8 6 ,M07
166,423
2 2 ,8 78
896
5 ,8 6 3
1,401,497
323,157
4n
«9
6,46o
252,399
«4.737
131,412
59,161
11,257
707
2,718
290
3 OO
14,685
76
SERVICE:
77
7g
79
SO
81
82
83
84
Domestic service— Laundries, hotels,
restaurants, operating apartments or
office buildings, etc.
Amusements:
Theaters, legitimate, vaudeville, etc.
Motion picture producers
Motion picture theaters
Other amusements— Circuses, golf links,
race tracks, pleasure resorts, etc.
Total amusements
Professional service— Curative, educa
tional, engineering, legal, etc.
Business service— Detective bureaus, trade
shows-.,‘ mimeographing, publishing direc
tories, advertising, etc.
Other services, n.e.c .— Auto camps, ceme
teries, boards of trade, newspaper
syndicates, photographers; conces
sionaries of amusements, cloakrooms, etc.
Total service
S94
3,09s
%
FINANCE;
Banking and related industries:
National banks
State and private banks, savings banks,
loan and trust companies
Joint-stock land banks
Loan companies, building and loan asso
ciations, mortgage, note or pawn
brokers, insurance agent s, promoters,
foreign exchange brokers
Investment trusts, stock syndicates,
stock pools, holding companies, etc.
Stock and bond brokers, investment
brokers, investment bankers
Real estate and realty holding com
panies— Realty development, holding,
or leasing; realty trust, etc.
Total bonking and related in
dustries
For footnotes,
see p. 5*
23,329
8,085
•t
*
8,402
2,128
I
2,833
1,192
1 7 7 ,6 9 9
35,314
4,856
579
1,470
I7 I ,2 1 8
6 1 ,5 8 6
171
90
6 6 ,9 8 5
15,355
Mio.oUg
«2,705
11,3 6 7
396
6o,4l7
790,722
356,643
11,213
91
1 4 1 ,6 2 9
3 2 .US3
2.U63.059
471,461
64,812
2,879
90,433
3,6os,l44
1,143,574
18 ,7 13
5
Corooration returns for 1935 by major industrial groups and subgroups and by returns with net income and with no net income, showing number of returns, gross income,
net income or deficit, income tax, and excess-profits tax - continued
(Money figures in thousands of dollars)
Industrial groups
Total
number of
returns
*.‘’
Number
**
:
Returns with net income
:
Gro^s income 1/ :
Net income
2/
:
Income tax
Excess-profit s
tax 3 /
:
Returns with no net income
Number
:
Gross income l/ i
*'
•
Deficit 2/ îî
Number of returns
with no income
data— Inactive
corporations
It
92
93
FINANCE - Continued
Insurance companies:
Life insurance— Mutual or stock
compani es
Other insurance— Accident, casualty,
fire, marine., title, etc.
Total insurance companies
Total finance
9I+
NATURE OF BUSINESS NOT GIVEN
GRAND TOTAL
665
1,549
2,2lb
ib3 , 3 b3
lb,961
533.631
m
52,^96
136
612
ybs
¡1 , 1 2 3 ,1 9 2
a , 175,63s
33,231
163
16b,231
3.63s.747
1
1.771
77,441,506
2,939
1 2 8 , 32 b
131,813
603,27b
560
5,164,723
bio
17,706
is ,116
7
8 2 ,9 2 3
2 ,3 3 6
77
710,156
7
6
24,969
475
794
3b3,219
bl3,llb
1,269
91,702
1,560
1,256,333
b,s 6b,b73
3.720
36,b9b,66b
3 1 2 ,8 3 2
134,439
5b
ib3
2 3 3 ,0 1 9
197
1 ,3 3 1 ,5 9 3
is ,910
13,23s
56,51s
1 0 3 , 5^0
9 ,1 6 3
3 ,4 6 3 ,7 7 4
Id" a
and "cost of operations," and minus interest received on Liberty Bonds, etc. (item 11 on face of return),
l/ Gross income corresponds to total income, as reported-on face of return, plus "fost of goods sold"
which has, however/’been deducted .from total income (itemlb), so that gross income includes the same items as in prior years
jl includes excess-profits* tax of $19,58^ on returns with no'net income for .income| tax purposes. Interest received on certain obligations of the United States and Its instrumentalit ies^which is allowed
as a credit against net income in the computation of the income tax, iis
: not allowed as a credit against net income in the computation of the excess-profits tax. (See article 1(d) of Treasury
Decision bb69, "Regulations relating to the excess-profits tax imposedi by Sect ifn 702 of the Revenue Act of 193^*n)
Note— n.e.c., not elsewhere classified.
À
92
93
9b
TREASURY DEPARTMENT
Washington
Press Service
No. 12— 25
Î0H release , m o r n i n g n e w s p a p e r s
Wodnesdav. January 19, 1938«
UNITED STATES PRODUCTION CP GOLD AND SILVER IN 1937
(Arrivals at United States Mints and Assay Offices and at private refineries)
The Bureau of the Mint, with the cooperation of the Bureau of Mines, has
issued the following stat croont of the preliminary estimate of refinery production
of gold and silver in the United States during the calendar year 1937:
Gold
States
Alaska------------------ -----
Alabama------------Arizona---------------------C a lifo r n ia ----------------I Colorado----------------- —
I Georgia----------------------
I Idaho--------------[Illin o is --------------------■ M a r y la n d -------------------------
■Michigan----------[M issouri-------------------- I Montana ----------------------
[Nevada------ ;------New Mexi c o ---------[New York------ -----North Carolina ------Oregon---------- ---Pennsylvania — ------South Carolina-----South Dakota -------Tennessee —~---------Texas --------------U h h ---------------V ir g in ia ---------------------
Washington---------Wyoming------------Philippine Islands-Puerto Rico --------Totals» 1937 -----Last year, 1936 -—
Year of largest pro
duction, 1915^----
Ounces
Silver
Value 1/
615,234
2,463
351,309
1,153,303
372,574
500
78,000
î Oun.ces
1,008
52,294
1,834
1,846
575,746
115
534
329,280
1,054
33,574
1,812
703,580
17
7,006,900
9,556,100
1,458,400
35,300
1,830,300
64,200
64,600
20,151,100
4,000
18,700
11,524,800
36,900
1,175,100
6 3,400
24,625,300
600
663,978
734
9,857,153
2,579,593
6,110,914
40
19,660,615
1,143
28
18,529
181,321
11,587,957
4,534,632
1,262,450
41,881
5,405
68,537
10,679
135
141,620
'■±7,336
1,258,786
12,948,368
1,441
101,883
228
649,381
1
4,792,097
4,357,394
167,723,400
152,508,800
71,735,268
63,812,176
-
994
52
200,255
273,03141,668
«
4,887,604
$ 21,533,200
86,900
12,295,800
40,365,600
13,040,100
17,500
2,730,000
34,800
1,800
-
Value’ l/
$
511,927
566
7,599,865
1,988,866
4,711,516
31
15,158,334
081
22
14,286
139,798
8,934,315
3,496,201
973,349
32,290
4,167
52,842
8,234
104
109,189
36,496
970,524
9,983,577
1,111
78,552
176
500,673
1
55,307,892
49,422,530
74,961,075
101,035,700
37,397,300
(in 1915 at $20.67/) per fine ounce; silver in 1937, at
$0*771 per fine ounce, the average price of newlj mined domestic silver received
by the Treasury,
-2-
\ efforts
■Spoei-el
,v u
against narcotics
cr
»boea m y »the Gmr«»,
»*8 not
A
ti onAia i e «ffl'DBoitofte^in preventijft^
co-opera-
the smuggling of
general merchandise-- watches, jewelry, gwwns,
furs, etc*
In the latter lines legitimate
dealers are of genuine aid to the Government because of
their desire to assure £m m honest competition,
there is very little manufacture of narcotic drags in the
United Spates and a ready market for the illegitimate
l/7
4t \
product, the prevention of snuggling
wt •
instructions for the Baltimore and
e *
4-0
Norfolk Collectors have been p g q p a ;
m*
-
msesatssttz to meet inc caning passengers' except in cases of
A
A
death or imperative emergency, as adjudged by the Collector
Because of the Department’s keen interest
in th8 suppression of snuggling, a close study will be
made of results cf the newr practice at the Chesapeake Bay
ports with a view to possible extension of the policy to
other important ports of entry*
©oOooo
__ _
The Treasury Department announced
today
that the Collectors of Customs at Baltimore, Md*, and
Norfolk, Va., have been authorized, effective as of
February 1, to suspend the issuance of dock passes
except in emergencies*
The a c t i o n , a p a r t o f th e D e p a r tm e n t^
« M i a c anti-smuggling program, will result in the
withdrawal^cf^the*coStesy extended by Collectors t©
peimit individuals to enter Customs enclosures at
steamship wharves to meet incoming passengers*
Principal aim of the suspension,
it was explained, is the prevention of the entry into
the United States of illicit narcotics^ but the plan is
also expected to eliminate congestion on the docks and
result in more expeditious examination of baggage for the
new arrivals at Baltimore and Norfolk^
Veteran Treasury agents have reported
to enforcement officials in Washington the growth of a small|
but active group of travelers whose principal income is
some
derived from the proceeds of smuggling*
In/^iH^caseSj
according to the officers, smugglers ©f narcotics w k have bl
met at the docks by those in possession of passes and in
such encounters the contraband has been introduced into
the country*
The agents pointed out, however, that the
honesty of the great part
of
the traveling public is
by the comparatively small extra collection of
evidenei
p e n a l ty-dutiej
,ii
resulting from examination of passenger baggage*
-------- --------- i d m
x more
TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING- NEWSPAPERS,
Wednesday, January 19, 1938.
TJlQlW
Press Service
No. 12-26
The Treasury Department announced today that the Collectors of
Customs at Baltimore, Maryland, and Norfolk, Virginia, have Been author
ized, effective as of.February 1, to suspend the issuance of dock passes
except in emergencies.
The action, a part of the Departments anti-smuggling program,
will result in the withdrawal at those Ports of the courtesy extended hy
Collectors to permit individuals to enter Customs enclosures at steamship
wharves to meet incoming passengers.
Principal aim of the suspension, it was explained, is the prevention
of the entry into the United States of illicit narcotics, hut the plan is
also expected to eliminate congestion oh the docks and result in more
expeditious examination of baggage for the new arrivals at Baltimore and
Norfolk.
Veteran Treasury agents have reported to enforcement officials in
Washington the growth of a small hut active group of travelers whose
principal income is derived from the proceeds of smuggling.
In some
cases, according to the officers, smugglers of narcotics .have heen met
at the docks hy those in possession of ponses and in such encounters the
contraband has heen introduced into the country.
The agents pointed out,
however, that the honesty of the great part of the .traveling public is
evidenced hy the comparatively small extra collection of penalty-duties
resulting from examination of passenger baggage.
-
2
-
In its efforts against narcotics smuggling, the Government docs
not have the benefit of the cooperation that assists in preventing the
smuggling of general merchandise —
watches, jewelry, gowns, furs, etc.
In the latter lines legitimate dealers are of real aid- to the Government
because of their desire to assure honest competition.
Since there is
very little manufacture of narcotic drugs in the United States and a ready
market for the illegitimate product, the prevention of snuggling is more
difficult.
The instructions for the Baltimore and Norfolk Collectors have been
so phrased that no one will be permitted to meet incoming passengers
within the dock enclosures except in cases of death or imperative emer
gency, as adjudged by the Collector.
Because of the Department *s keen interest in the suppression of
snuggling, a close study will be made of results of the new practice at
the Chesapeake Bay ports with a view to possible extension of the policy
to other important ports of entry.
— 0O0—
TREASURY DEPARTMENT
Washirgton
JOR RELEASE, AETERNOON NEWSPAPERS
Monday, January 24, 1938.
1/21/38..
Press Service
No. 12-27
Secretary of the Treasury Morgenthau today made public the
third in the series of tabulations from
’’Statistics of Income for
1935, Part 2, Compiled Prom Corporation Income and Excess-Profits
lax Returns and Personal Holding Company Returns for 1935”, prepared
under the.direction of Commissioner of Internal Revenue Guy T.
Holvering.
This release comprises two tables showing receipts and deduc
tions.
The first table is based on the returns for 1935 and shows
by major industrial groups the number of returns filed by active
corporations, compiled receipts and compiled deductions, compiled
net profit or net loss, net income or deficit, income tax, excessprofits tax, total tax, compiled net profit after deducting total
tax, and dividends paid.
The second table is a comparative presen
tation of these data, in aggregate, from the returns for 1934 and 1935,
Corporation returns for 1935 by major industrial groups, showing number of returns, compiled receints and compiled deductions, compiled net profit or loss, net income or
deficit, income tax, excess-profits tax, tot^l tax, compiled net profit after deducting total tax, and dividends paid
(Money figures in thousands of dollars)
I N D U S T R I A L
'GROUPS
Manuf acturin g
Aggregate
Total compiled deductions
3 Compiled net profit rr net loss (10 less 22)
^ llet income or deficit 10/
5
Income t a x
6 Sxcess-profits tax 11/
Total tax
Compiled net profit less total tax (27 less 27)
Cash dividends raid
Stock dividends paid
For fottnotes, see page 2.
Mining
and
quarrying
Total
:
manuf acturing :
Food and
kindred
products
Liquors and
;
beverages , :
(alcoholic and :
nonalcoholic) • i
Tobacco
products
i
:
Textiles
and their
products.
Leather
and its
.
. manufactures
Rubber
products
'
•
Forest
products
Paper, pulp
and
products
2 ,23ft
U77.il3
9,055
I3 J I 5
9 1 .6 7 6
12,595
2,9ft7
367
15,383
2,348
598
6,583
85.33i.6si
19.7S9.605
2,566,072
1,61+3,129
H6 9 .90S
1,122,288
436,967
1 0 9 ,6 1 0
4,104
1 1 ,2 4 7
-,8'72
14,603
2 ,1 9 1 ,7 6 6
■265,926
14,757
23,779
2 1 ,0 6 6
33,145
ft6 .0 5 5 .3n
570,164
Í30,0 12
107,758
54,912
3 6 6 ,4 73
9 ,1 1 6 ,85s
6 5 ,3 9 3
1 6 ,2 3 0
I3 ,7 te
f t , 17ft
47,186
1 ,2 9 9 ,6 3 6
9,410
1 ,7 6 7
3,ft97
1 ,1 6 6
5,75S
1,087,756
1,484
1,093
7ft7
897
^,127
5 ,7 5 5 .5 7 6
85,488
7 ,4 7 7
1 1 ,| 0 0
4,| 6o
72,688
1 ,1 4 7 , 1 1 6
5,7iS
1,721
1 ,2 3 1
556
6 ,0 1 6
772,899
1,376
f t , 1+93
5 jo
492
7 ,5 6 6
1 ,26 8 ,2 9 3
21,744
4,405
6,079
3,61+7
10,254
1,452,687
6,640
7,719
3,0 25
1,857
8,645
3,013,527
717,546
10,214
1,491
7 1 ,7 1 1
5 ,6 2 3
6 1 3 ,1 6 4
48,812
64,876
4,083
lift,SU9.717
5 9 1 ,1 1 0
2 ,6 3 3 ,3 3 0
47,946,605
298,660
29,968
1 8 ,6 1 6
15,191
20,1+73
21,558
f t , 803
70,806
6 ,1 3 1
2.9U5
I2 6 ,6O6
1 ,4 7 0 ,1 6 6
127,785
4 2 ,6 3 9
1 7 ,2 6 7
73,9ft5
92,546
li,°9l
164,454
198,104
5,948
3 6 3 ,0 9 5
3ft,S?3.55ft
247,289
812,046
282,497
342,760
958,308
197,460
1,288,112
128,707
575,757
66,279,468
9,190,349
2.3ÜU.955
1 ,51+2 ,0 5 6
3 ,2 6 0 ,9 0 5
2 ,6 2 7 ,7 1 9
964,984
3 ,3 5 1 ,72ft
349,184
23s . 969
1 9 ,0 7 0 ,3 2 1
2
Agriculture
and related
industries
10 9 ,2 2 6 ,6 3 4
5,ft23,0S3
1,695,950
7 1 0 ,1 5 6
24,969
1 5 ,35ft
3,648
6 ,0 3 6
160
12 /
2,465
846
1 6 ,3 6 7
1J17
8,689
ft,716
1,702
434
5 ,7 7 1
270
4,407
1,402
11,415
9,332,~5ft2
1,724,546
1,117,183
5,911,290
1,164,494
789,017
1,319,790
1 ,1+9 3 ,10 6
7,508,2^5
24,158
9 0 ,7 3 1
3 8 ,0 1 1
48J18
126,259
21,983
71-7 ,7 6 1
3,103
27,819
4,632
9,075
192,390
27,748
7 3 9 ,0 1 5
56,889
l4-3,86i
fto,557
72,«59
90,357
17,227
118,430
10 7
3,(396
583,923
951,784
2 ,5 0 6
2 5 ,6 0 5
7,808
ft, 597
7 ,0 0 2
4,6 SO
1 2 ,0 7 1
84
742
1 0 7 ,5 2 2
5 4 5 ,2 1 2
355
8 ,3 9 2
3,851
8,60 3
30,233
2 ,5 2 6
2 2 ,1 3 s
19,355
6 ,30 8,923
1 3 8 ,2 7 3
289
1,957
i,002,4s4
8 2 0 ,12 6
299
6,359
1,559
f t , 907
6 0 ,1 1 5
1 ,323
6,530
2,563,939
45,468,183
9 ,0 0 1 ,7 1 s
1 ,2 2 9 .7 6 6
9 9 6 ,9 0 1
5,S26,719
1 ,1 2 3 ,6 0 1
760,246
69,391
10,947
22,400
5 15
2,478,422
1,816,447
31+1 ,3 5 5
1 5 ,5 2 8
730,824
2 6 1 ,864
ft3,670
1,584
9ft,7S0
9i,ft69
14,526
905
ll6 ,2S2
98,198
1 3 ,6 7 0
571
7 1 ,1 6 6
23,570
1 .03ft
40,893
3S.757
6 ,56s
19 s
as, 771
2 3 ,1 3 0
4,141
323
756 ,8 8 2
U5.253
15.731
,?4,6o4
6 ,7 6 6
4,465
285,571
2 64,70 9
3 ,2 7 7
79,oft9
57,715
1,753
5 9 ,9 6 7
1 0 1 ,1 7 5
74,127
23,39ft
• 2ft,3O7
16,422
7,ft95
940
54
735,12ft
6 ,1 9 6
22,915
ft.687,959
5 ,91*0 ,6 2 0
136,851
9,158
34,66s
7,548
U6,ft75
2,121,540
257,058
a ,193,fta
3 .1 2 5
49,688
..
s.ftr
Q
17/
34
95,5SS
664
212,133,.
44
1 3 ,7 1 ft
.
1 0 2 ,5 6 ”
9 6 ,7 1 1
1 S3
ft,
o ft,
978,964
1 1 ,59ft
7 9 ,9 7 5
8,187
18,377
2 1,0 6 9
1 2 ,3 5 6
79,680
2 3 ,00s
2,973
l73,ft5S
-
206
138,731
12 /
12 /
13/
1 ,5 1 7
1,048,591
1 ,7 2 3
3 3 ,1 5 2
1 1 ,6 0 3
27,897
19,711
10,727
5 9 ,1 1 ft
2,789
402
208,137
l,3 2 9 ,6ft2
i,ftl9,Sft7
9.S52
1 5 ,6 6 1
5 ,2 2 1
222
73,260
60 ,327
1 2 ,6 s6
266
5,ftft2
12,952
15,294
76,072
777
60,70s
58,457
2,87 s
CorDoration returns for 1935 hy major industrial groups, showing number af returns, compiled receipts and compiled deductions, compile d net prof it or loss, net income or
deceit, income tax, excess-profits tax, total tax, compiled net profit after deducting total tax, and dividends paid
(Money figures in thousands of dollars)
INDUSTRIAL GROUPS - continued
Manufacturing - continued
Printing,
publishing,
and allied
industries
1 • Number of returns
2
3
*4
5
6
7
Receipts, taxable income:
Gross sales ly
Gross receipts from operations 2/
Interest
Rents
Net capital gain
Chemicals
and allied
. ,
products
Stone , clay
and glass
:
, ,
.
products
• 12,390
7 ,5 0 6
3,777
19,125
1,558,720
6.93S, 7S6
131,952
25,578
22,019
12,635
*40,1SI
9 7 7 ,6 1 9
1 2 ,9 9 1 ,5 5 1
11,00*4
2,785
2,929
6 ,S05
7,592
112,939
2 4 ,5 2 7
3 ,6 7 0
257,302
6 ,2 5 0
10,927
2,101
2 ,0 3 1 ,7 5 7
7 ,6 3 5 ,1 0 3
1 ,0 1 9 ,7 6 3
6 ,£06,179
6 0 ,SOI
1 0 4 ,4 7 6
5,421
.
Other receipts
Receipts, tax-exempt income:
g
9
Dividends from domestic corporations
Interest on tax-exempt obligations
10
Total compiled receipts 4/
:
:
:
:
1 1 ,4 9 7
2,877
2 0 ,5 7 0
*
*
I
:
.
.. , ,
,*
*‘etal f d,
its products
r
6 7 ,3 2 3
27,257
1 5 ,0*12
1 6 5 ,9 2 s
* Manufacturing .
* not elsewhere .
* classified
i
Construction
5,820
16,050
,3£7,p i 6
526,926
927,535
1 2 ,9 2 0
6 ,3 6 5
5 ,6 9 5
5,612
6,0*47
3,526
2 ,00*4
i Transportation :
•*
and other
*
V
public
‘
:
utilities
•
Trade
2 5 ,6 3 3
5
Service •* professional,
•
amusements,
1 hotels, etc.
Cost of goods sold 5/
Cost.of operations p/
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid ether than income tax J /
Bad debts
Depreciation
Depletion
Net capital loss 5/
Other deductions
1 ,2 2 3 ,9 7 8
>♦7,677
26
96o
3 5 6 ,5 7 s
22
TotaJ compiled, deductions
21
2m-
Compiled net profit or net loss (10 less 22)
Net income or deficit 10/
25
26
27
Income tax
Excess-profits tax 11/
Total tax
28
Compiled net profit less total tax (23
less 2 7 )
Cash dividends paid
Stock dividends paid
29
30
l/
2/
3/
4/
U/
b/
2/
S/
10/
11/
12/
13 /
14/
15/
lo/
17 /
54,777
97,i£6
7 5 ,1 0 6
6 s6,580
E ,0*46
25,607
k M n
7 0 ,5 6 2
5 0 ,1 6 6
18,933 •
22,771
53,898
202,524
2 1 ,6 0 9
3 2 ,6 7 1
2 9 0 ,9 3 6
1 0 ,9 9 6
1 5 ,2 6 1
5 ,5 6 6
1 2 6 ,9 3 3
1,723
3 2 9 ,2 1 3
• 3,462,561
14,169
165,258
9,572
3 9 ,32 s
14/ 2 ,6 0 2 ,7 0 6
2 ,1 9 0 ,7 7 6
1 ,1 3 8 ,3 5 3
3 6 s, 6 S9
267,257
^,485
364
135
24l
1,152
3 6 ,1 2 0 ,6 5 2
11,0 72, *451
113,937
1 0 0 ,6 2 3
512,175
92,421
57,771
. 15,591
10,618
55,546
196,972
19,699
10,1*45
6 ,1*10
2,550
265,269
19,2*40
71,731
9.7SO
16,532
1,897
1,955,616
620J96
ill
25
13,576,790
1, *437,,22*4
1 ,6 9 5 ,9 0 7
11,604,01*4
37,539,595
3 ,7 0 9 ,6 1 7
9,124,020
5,519
2 9 ,1 9 9 ,7 2 1
_
707,966
744,841
629,445
1,462,944
179,273
225,027
ll^/
345,922
1,9S6
15/
375,125
6 75
250
1 6 3 ,5 3 3
2 0 0 ,9 2 7
244,569
200,691
149,097
2 6 2 ,6 1 2
155,366
1 6 / 3,953,^299
W
7 ,3 2 6 ,1 3 0
12/
1,797,291
77-8,519
1 ,5 0 5
9,597,639
2k, 3*4*4
200,06*4
63,255
99,575
9 6 0 ,0 5 1
1 ,2 5 6 ,6 1 9
3,752
1,723,788
113
1 ,7 6 7
2 5 2 ,9 3 0
1 ,9 0 9 ,5 0 2
6 ,9 1 9 ,1 5 3
9 6 9 ,2 5 5
1 2 ,6 5 6 ,7 2 3
1 ,3 6 7 ,1 1 0
1 2 2 ,2 5 5
5 1 5 ,9 6 9
94,055
251,797
70,507
5 7 .6SO
9 2 0 ,0 6 7
7 0 5 ,3 9 5
90,11*4
75,W 4
19,255
5 0 ,3 6 0
463
929
12,196
*470
19,717
5 1 ,2 6 9
120,2*40
5,202
I28tkk2
1 0 2 ,5 3 s
464,681
570,738
96,946
3,926
1 0 ,5 6 9
V
57,262
63,112
1,303
131,62%
733,257
1 6 ,6 3 7
627,387
690,4-09
76,576
10,571
14,095
66,713
11, 3Ì 3
8,025
17,709 S,j626
3 5 ,7 6 b
1 ,0 3 7
1 6 6 ,9 3 0
1 2 ,6 6 6
:
•
:
Nature of
business
not given
1 2 ,2 7 0
57,533
1,958
I
i
:
1 6 ,9 6 7
1 5 2 ,6 0 5
6 9 ,3 7 6
¡4 7 1 ,6 1 7
6 ,6 0 5
93,313
1,387
banking,
insurance, real
estate, stock
and bond
brokers, etc.
*19,647
144,551
v
Deductions:
11
12
13
14
15
1'6
17
IS
19
20
21
•
:
'
•
1 2 ,0 6 7
11, *469
11,25*4
6 1 ,2 3 7
5 ^9 7 5 ,0 5 3
95,164
1 9 5 ,7 7 6
1 ,3 6 1 ,9 5 6
7 1 7 ,5 3 7
65,599
l,072,o82
3 6 ,9 2 7
1 2 ,0 1 6
2 6 J 21
1 ,5 1 2 .6 7 3
1,305
9,331
5,267,589
210,504
255
13,618
1,352,357
10,961,405
3 6 ,9 9 1 ,90 s
3,571,955
2,5*47
6,677
6*42,606
3 5 5 ,0 9 7
5 4 7 ,6 5 7
4 6 6 ,1 7 6
1*4,977
. 555
6,772
1 5 ,8 6 1
7,652
, 127,550
1,125
125,705
105,695
3,3H
105,505
513,900
1,255,800
5,553
435,852
7 6 ,2 5 3
74,074
2,195
*4*45 .
2,16*4
207, 5 2 O
1 ,6 9 3 ,3 6 3 ■-
12/
7 10
12/
w
6,939
2 9 ,7 5 6
k ,225 .
5 1 0 ,1 0 2
25,640
1 6 6 ,7 7 2
12/
12/
122,740
141,070
1 7 ,5 1 6
li/
2,550
291
2 ,732
1,122,793
432,045
6 5 2 ,7 2 7
3 1 5 ,6 6 7
2 ,6 1 4
729
15,243
82,925
2,056
55,513
1 6 0 ,5S3
7 1 ,1 3 5
2 ,2 7 5
1,712,075
1 ,5 5 9 ,6 3 9
3S.3S6
6^0
5
521
4 ,2 7 0
13,958
12/
12/
5 ,4 7 0
5, 60 S
77
6
S3
12/
8 ,5 5 2
983
409
sem i n i n g factor.. P o r "cost of goods sold," see "deduction.
Gross sales, where inventories are an incomeGross receipts from operations where inventories are not an income-determining factor. Eor "cost of operations,” see "deductions,r.
Includes obligations of States and Territories or .minor political subdivisions, obligationsof instrumentalities of the United
States andobligations of theUnited; States or its
possessions,
Excludesgross receipts from sale of capital .assets* deludes nontaxable income, other than interest on tax-exempt obligations anddividends on stock of domesticcorporations as
reported in Schedule L of the return.
Includes taxes which are reported in "cost of goods sold,11
Includes taxes which are reported in "cost of operation."
Excludes taxes tabulated in "cost of goods sold" and "cost ofoperations."
Eor limitation on amount of net capital loss that may be reported see Section 117(d) of Revenue Act of 19^4.
Excludes dividends received on stock of domestic* corporations.
Excludes dividends received on stock of domestic corporations ” nd interest on Liberty Bonds, etc. (item 11 on face of return).
Excess-prof its tax of ^19-,“5Sl|- appears on returns ^ith no net income for income tax purposes. Interest received on certain obligations of the -United -States' and its. instrumentalities, which is allowed as a credit against net income
in the conroutat-ion of the income tax, is not allowed as a credit against net income in the commutation of the excess-profits tax (see Article 1(d) of Treasury Decision 4469, ’'Regulations relating to the excess-profits tax
imposed by Section 702 of the Revenue Act of 193**-1’) •
;-h
Deficit..
\
''
h:?lb.
>
Compiled net loss plus tottl tax.
Includes for a limited number of returns the cost of securities purchased for customers.
Excludes compensation of officers of life insurance companies which jfile rothTn Eorm 1120L.
Includes special nonoxpense deductions of life insurance companies.
Less than .9500.
Corporation returns for 1934 ~n(i 1935 showing number of returns
comoiled receipts and compiled deductions, compiled not profit
or net loss, net income or deficit, income and
excess-nrofits tax, and dividends paid
_______(Honey figures in millions of dollars)____ _______
1934
10
H7 7 . 1 1 3
469,S04
Total compiled receipts 4/
101,495
114,650
5 7 ,45?
* ,6 7 0
2,173
3,422
2 ,1 6 2
1,182
3 .3 6 2
312
297
l ? f9§i
66,279
9,190
2.345
1,542
3 ,2 6 1
2,62S
965
3,352
349
239
1 9 ,0 7 6
92,520
109,227
2,975
94
996
4, £29
2 15
5,423
1 ,696
735
■5,941
136
Total compiled deductions 10/
Compiled net profit or net loss (10 less 22)
Net income or deficit 11J
Income and excess-prof its tax
Cash dividends paid
Stock dividends paid
y
1935
Humber of returns
Heceipts, taxable income:
Gross sales 1/
Gross receipts from operations 2/
Interest
Bents
Net capital gain
Other receipts
Heceipts, tax-exempt income:
Dividends from domestic corporations
Interest on tax-exempt obligations 3 /
Deductions:
Cost of goods sold 3 /
Cost of operations 6/
Compensation of officers ]_/
Bent paid on business property
Interest paid
Taxes paid other than income tax S/
Bard debts
Depreciation
Depletion
Net capital loss _9/
0 ther de due t ions
22
:
7 4 ,1 0 9
IS,5^2
2 ,69s
1,525
2^3
1,229
2,217
m
l,4s 6
85,332
19,790
2 ,566
1 / 4-5
470
1 ,1 2 2
3,014
714
lining factor. For "cost
Gross saleé ’-'here inventories are an mcome-aet
of goods sold" see deductions."
Gross receipts from operations ^here- inventories are not an income-determin
ing factor. For "cost of operations" see "deductions."
Includes obligations of States and Territories or minor political sub
divisions, obligations of instrumentalities of the United States, and
obligations of the United States or its possessions.
Excludes gross receipts from sale of capital asseth. Excludes nontaxable
income other than interest on tax-exempt obligations and dividends on .
stock of domestic corporations a.s reported in Schedule L oí the return.
Includes taxes which are reported in "cost of goods sold.”
•Includes taxes which ^re reported in "cost oí operations.”
Excludes compensation of officers of life insurance companies which file
Form 1120L.
Excludes taxes tabulated in "cost of goods sold" and "cost of operations."
For limitation on amount of net capital loss that may be reported, see
Section 117(d) of Hevenue Act of 193^*
Excludes dividends received on stock of domestic corporations.
Excludes dividends received 011 stock of domestic corporations and interest
received on Liberty Bonds, etc. (item l4 on face of return).
For Immediate Release
/
TREASURY DEPARTMENT
Washington
* * *
SELECTION OF JURY FOR APEX BUILDING
In announcing the national competition for two stone sculptures
to be placed on either side of the eas^ terrace of the Apex building,
the Section of Painting and Sculpture'explained that the artists enter
ing this competition would be invitea to select the jury which would
determine the winner* This is a new procedure which has never before
been tried on any such scale*
Two hundred and forty-five artists entered the competition sub
mitting 490 models* Each received an invitation to "Print clearly on
a blank sheet of paper the names of three people whom you would like
to have serve on the jury*" The artists were asked not to sign this
ballot, but to place it in an envelope marked "BALLOT."
Such an en
velope was attached to each model, together with a second blank en
velope, which contained the artist’s name and address*
The artists were further advised that only ballots that were
attached to proper scale models, and unsigned by the voter, would be
counted.
The artists followed the rules with great care and the ballots,
unsigned, have just been counted* The result of the vote was that Mr.
Lee Lawrie received the largest vote* The next two sculptors, Paul
Man ship and Adolph Weinman, tied for second place* Accordingly, these
three sculptors, and the architect of the building Mr* William E*
Parsons, will act as the jury.
'
The jury will meet on Monday, January 24, to begin its examination
of the models submitted in the Apex building competition. An announcemei
of the winner will be made after the jury has reached a decision*
The sculptors who received the next largest numbers of votes in
the order of numbers were:
Gaetano Cecere
Edward MacCartan
Carl Milles
James E. Fraser
William Zorach
Maurice Sterne
Robert Laurent
C. Paul Jennewein
TREASURY DEPARTMENT
Washington
jCR MEDIATE RELEASE,
Ifcdnosday, January 19, 1938.
Pross Service
No. 12-28
SELECTION OP JURY EOR APEX BUILDINGIn announcing the national competition for two stone sculptures to he
placed on either side of the east terrace of the Apex Building, the Section of
pointing and Sculpture of the Procurement Division explained that the artists
ontoring this competition would he invited to select the jury vvhich. would deter«nino the winner.
This is a new procedure which has never before been tried on
any such scale.
Two hundred and forty-five artists entered the competition submitting
490 models.
Each received an invitation to ’’Print clearly on a blank sheet
of paper the names of three people whom you would like to have serve on the jury
The artists wore asked not to sign this ballet, but to place it in an envelope
narked ”BALLOT.»
Such an envelope was attached to each model, together with a
second blank envelope, ?/hich contained the artist’s name and address.
The artists were further advised that only ballots that were attached to
proper scale models, and unsigned by the voter, would be counted.
The artists followed the rules with great care and the ballots, unsigned,
have just been counted.
The result of the vote was that Mr. Lee Lawrie received
the largest vote.
The next two sculptors, Paul Manship and Adolph Weinman, tied
for second place.
Accordingly, these three sculptors, and the architect of the
building, Mr. William E. Parsons, will act as the jury,
The jury will meet on Monday, January 24, to begin its examination of the
2
qo&cIs
submitted in the Apex Building competition.
An announcement of the winner
will bo made after the jury has reached a decision*
The sculptors who received the next largest numbers of votes in the
order of numbers were:
Gaetano Occere
Edward MacOartan
Carl Milles
James E. Fraser
William Zorach
Maurice Sterne
Robert Laurent
C. Raul Jennewein
— 0O0—
ffB O S
Treasury Gold Receipts (lot)
(ta millions of dollars)
Jaa.OM&rch
ApriWua«
Rewly mined domestic — $
Domestic coin « ~ ~
«
Imports
Secondary « - « « « « « »
July-Sept,
1937
1937
32.93
.03
277,22
5.97
Total
$
36.46
0
691.37
16,61
1 744.44
Get.«Bec
1937
$
46.86
0
371.80
4.40
I 438.06
1937
%
45,81
1/
¿'30.80
IIS
1
19.78
Silver Receipts by Baited Stetes Mints aid Assay Offices
(Thousands of fine ounces)
Quarter
Jan.-March
Quarter
Apr .-June
1937_______1937
Hevly Mined domestic
silver ------ ----
Quarter
Quarter
Aggregat«
July-Sept.
Cot .«Oso*
to Dec. 31
1937
1937
1937
15,337.0
15.633.3
30,838.6
18,836,4
191,498.8
Rationalised silver« «
(Case. Proclamation
August 9, 1934)
7,9
13.6
7.0
6.0
113,028,5
Purchase Act silver« «
(Act dune 19, 1934)
46,683.0
30,438.4
97,889.0
66,636.0
1,180,253.4
(free. Proclamation
Dee.
1/
21,
1933)
let ««ports
TREASURY DEPARTMENT
Washington
Lg IMMEDIATE RELEASE,
yriday. January 21, 1938.
Press Service
No. 12-29
(
Treasury Gold Receipts (Net)
(in millions of dollars)
Jan.-March
1937
Newly mined domestic —
$
Domestic c o i n ---- --- -
Imports----Secondary-- -------Total------ ■-- —
$
April-June
1937
■July-Sept.
1937
Oct,-Dec
1937
32,93
.03
277.22
5.97
$
$
$ 45.61
316.15
$ 744.44
36.46
0
691.37
16.61
45.85
0
371.80 *
4.40
M
l '7Q
30 •80
3.25
$ 19.76
$ 422.05
Silver Receipts "by United States Mints and Assay Offices
(Thousands of fine ounces)
Quarter
Jan.-March
1937
Newly Mined domestic
silver-----------(Exec. Proclamation
Dec. 21, 1933)
Quarter
Aor.-June
1937
Quarter
July-Sent.
1937 *
Quant er
Oct.-Dec.
1937
Aggregate
to Dec. 31
1937
15,337.0
15,623.3
20,838.6
18,826.4
191,498.8
Nationalized silver —
(Exec. Proclamation
August 9, 1934)
7.9
13.5
7.0
6.0
113,028.5
Purchase Act silver —
(Act June 19, 1934)
46,682.0
30,438.4
97,889.0
66,536.0
1,180,253.4
U Net exports.
oOo—
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS
Wednesday, January 26, 1938,
Press Service
No. 12-30
ï[2êjM
Secretary of the Treasury Morgenthau today made public the fourth
in the series of tabulations fron the ’’Statistics of Income for 1935,
Part 2, Compiled from Corporation Income and Excess-Profits Tax Returns
and Personal Holding Company Returns for 1935”, prepared under the di
rection of Commissioner of Internal Revenue Guy T. Bclvering*
The following table presents by major industrial groups the
various assets and liabilities reported on balance sheets submitted
with the corporation income and excess-profits tax returns for 1935:
Returns of corporations submitting balance sheets for 19 3 5 L 7 major industrial groups, showing number of returns and
assets and liabilities as of December 3 1 . 1 9 3 5 * or the close of the fiscal year nearest thereto
(Money figures in thousands of dollars)
I N D U S T R I A L
G-ROUPS
Manufacturing
Aggregate
Number of returns with balance
sheets 1/
Agriculture t
Mining
*
and
and
* related
quarrying
1 industries]
:
:
:
Total
manufacturing
]
]
Eood
and
kindred
products
5
6
7
ri
b
q
10
11
12
13
ih
15
16
793 > 5 9
9 5 2 ,8 1 2
5 2 ,6 8 1,9 0 3
17
Total liabilities
G R O U P S
Service-—
Profes
sions.!,
:
amusements,
hotels, etc.
(Continued)
: Finance— Bank- :
: ing, insurance,:
: real estate,
:
: stock and boni :
: brokers, etc. :
1**311
Nature of
business
not given
10U,1U6
932
Jjf
2Sl+, 818
16,985,73**
7,016
123,273
1,233 >8**
1,269,751
I+25,888
I2U,52U
63,1+66
1,868,779
617,35**
177*302
*1,832,231
**, 567,988
2 7 l*,099
526,179
22,886,253
27.308
157,191
1*3*321
109,396
19,737,307
l,0gi+
22l+, 768
9,873.0?**
1,89!*, lgl*
723,163
67,071,575
>.736
1*85,015
1*9,581,110
3,662 >89
9SU,916
17>85,657
6,032,61*5
13,319,620
25,680
12,666
90,550
5,030,081
1,028,928
1,231,300
3,560,009
919,609
3**3,259
125*717
1,928,071
1,613,278
66,1*78,097
17>85,657
8,171,1*68
537,313
2,196,239
1,095,962
1,113,52s
8,1+26,901+
**,992, **72
2.697,955
******, 535
**, 5 5 3 ,2 0 5
9 ,5 1 9 ,U65
22,21*8,665
175,658
11*4 ,3 6 0
1 1 3 ,2 6 8
1 ,0 0 0 ,3 79
2 ,1 0 6 ,9 7 0
1, > 1 , 3 8 3
1,269,878
6 >55,351
3*877,190
1,317,153
1>5**,1**7
973,936
800 > 2 2
6^5 ,7)13
1 ,0 1 9 ,1 2 0
3 0 3 ,1 5 0 ,2 3 1
**,535,363
3*870,523
317,109
2 0 6 ,6 29
1 9 1 ,3 2 2
2 0 9 ,6 1 1
711,339
862,1*01
5 ,660 ,70 2
1 9 ,5 3 3 ,1 5 1
82,732,838
1*8,828,065
12,162,918
71+3.923
35^,720
U, 1*1*7 ,9 6 1
2,725*520
9 7 6 ,0 7 7
6,7 1tU,9 2 2
**,337,012
3,938,767
5 ,602,55**
2 0 ,2 7 9 > 9 5
> , 0*19 ,29**
2 ,320,rUi
3,189,287
2 1 U,U23
1 1 1 ,6 3 5
3 2 1 ,851*
199,599
59,701
1 ,1 7 1 ,8 2 8
i,c 1*7 ,1*70
26,390,863
1 7 ,1*0 2 ,6 2 1
10 5 ,6 8 0
124, Oi+8
61*,181
221,182
2 6 6 ,7 2 3
2 0 1 ,21*1*
30,21*7
39 2,21*0
217,13l|
1 7 6 ,1 3 8
77*339
1 *0 58 ,0 59
U6U , 075
2 7 8 ,0 1 5
11*0,270
275>07
91.892
576,063
1 ,878 ,78 8
1 2 5 ,5 0 2
1*9,586
1*1**985
2 5 ,3 3 1 ,6 9 2
1*9,821,895
8 9 ,0 6 5 ,50 8
372,101*
1 1 ,1 2 0 ,1 3 9
699,069
2 1 5 ,831*
332,566
5 6 9 ,0 16
1 ,7 9 0 ,10 6
1,223,971*
277,359
5 ,6 60 ,70 2
Liabilities :
Notes and accounts payable
Bonded debt and mortgages
Other liabilities
Caipital stock, preferred
Capital stock, common
Surplus and undivided profits
Less deficit
2 ,3 2 3 ,8 9 2
1*7 ,1 2 7
5 6 ,8 8 2
1+9,738
11+2 ,6 9 9
1*31,885
2 76 ,3 6 0
52,681,903
66>78,097
2 ,1 9 7 ,3 5 s
1 9 !*,1*96
gl*, 9IO
73*933
5^*320
311*776
3 2 8 ,6 6 7
2 9 ,01*1
9 ,5 1 9 ,11.65
1 ,6 1 3 ,2 7 2
2 ,2 1 9 :7 6 7
8 18 ,2 6 7
5 6 5 ,11*2
3 7 2 ,9 1 7
7>,353
2 ,0 1 5 ,3 0 2
1 ,3 9 6 ,6 59
2 2 1 ,9 3 8
a. 10 6 ,9 7 0
Total assets
^3 8 ,7 3 1
i6l+,7 6 l+
9 5 2 ,8 1 2
30 3,1 5 0 ,2 3 1
599,588
8,1*26,901*
6 ,6 7 8 ,3 9 5
9 7 0 ,8 2 5
793 > 5 9
1*78,81*2
8 1,8 9 2
3 .1 2 6 ,9 9 5
978 ,8 28
87,620
**,5 5 3 ,2 0 5
2 ,l6**,00S
3 6 0 ,5 3 1
166,343
1*, 1*1*1*, 1*66
1*9 5 ,6 9 6
1 ,0 0 0 ,3 79
2 0 ,2 3 0 ,5 1 9
3 ,2 9 3 ,osi
Assets:
Cash 2/
Notes and accounts receivable
(less reserve for bad debts)
Inventories
Investments, tax-exempt 3/
Investments, other than
tax-exempt
Capital assets— Land, buildings,
equipment, etc., (less de
preciation and depletion)
Other assets
6 7 0 ,6 9 2
5 0 7,9 0 6
1 ,0 1 9 ,1 2 0
5 ,9 1 **,288
555.231
130,317
109,531
9 7 1*, 1*26
99,138
**0,537
1 ,2 28 ,50 6
I2l*,336
/f(
219,731*
1 ,1 0 1 ,1+1+7
Capital assets— Land* buildings,
equipment, etc., (less de
100 > 7 9 ,8 7 1
preciation and depletion)
1 3 ,500 ,630
Other assets
ho,(M
2 ,6 9 6 ,7 6 6
2U7 ,S60
8 1,8 0 6
8 9 ,5 7 9
21, ll+9
2 0 2 ,761*
1 6 3 ,3**0
6 3 ,1*12
1**, 117
2 ,5 8 7 ,1 7 6
1 ,806,588
181,000
8 7 6 ,51*1*
Number of returns with balance
sheets 1/
2 9 0 ,10 2
82,397
1 1 1 ,8 3 5
8 ,32s , 510
Trade
2 70 ,8 2 7
313,900
1*3,1+lU
1*1*9 ,0 2 2
1 ,6 76 ,0 6 8
] Transporta-]
] tion and ]
Construction
]other public*
* utilities
2 ,2 1 9 ,1 9 5
2 ,9 6 7 ,1 3 0
5 5 8 ,6 6 9
265,317
2 9 7 ,0 6 7
S T R I A L
1 8 9 ,9 9 1
2 3 5 ,23s
6 5 .1 3 2
1 8 6 ,81*1*
6 8 7 ,91*9
1 ,1 2 2 ,1*1*7
1 3 0 ,0 5 2
I N D U
1 ,5SU.3S9
1 ,2 8 2,50 6
185,01+1+
77,889
1,359,391
1 5 0 ,U17
^2 6 ,9 3 6
5 6 ,3 9 9
Total liabilities
10 8 ,2 9 0
3 2 3 ,3 6 0
1 8 7 ,3 0 9
1*2 ,81*0
13 2 ,0 8 5
123,557
20,881
Liabilities:
Notes and accounts payable
Bended debt and mortgages
Other liabilities
Capital stock, preferred
Capital stock, common
Surplus and undivided profits
Less deficit
1 ,3 1 1 ,11*1
1*6 2,8 20
1 5 6 ,9 2 1
9U,S67
7 5 6 ,1 1 0
9 6 6 ,1*80
1 0 8 ,921*
Total assets
1 1 9 ,2 1 5
28 0 ,26 6
2l*l*,1*81
1+2,535
7*375,532
8 ,7 0 5 ,U08
90,163,I**!*
51*0,863
283,57**
3 5 1 ,6 6 7
33,562
597,131
3 1 7 ,1 6 1
l6!+,1*31
1 5 1 ,1 6 0
5 ,1*00
190,691*
1 8 5 ,6 1 8
8,026
6i*,o6î+
3 8 ,69 0 ,^ 6 1
1 ^,78 8 *3 91
2 1 , 863 ,2*+l
1 8 ,3 0 1
1 6 7 ,2 1 5
2 6 8 ,5 2 7
1 1 ,8 8 7
3 0 1,8 0 9
*1,637 >7**
ll|.4 , 7 l*7 ,l*08
7. > 7 . 0 9 9
13.036,667
77,320,997
7,71**>92
25,385,61*8
18,086,263
3.9**3,759
11*1*,71*7,1*08
2,060
52,833
i3,5*n
13,920
10,381
85,359
1^,973
100,1*58
9 0 ,5 5 0
1 J Excludes returns for inactive corporations and returns with fragmentary balance sheet data.
2 / Includes cash in till and deposits in bank.
3/ Includes obligations of States and Territories or minor political subdivisions, obligations of instrumentalities of the United States,
and obligations of the United States or its possessions.
:Manufa.ctur: ing not
: elsewhere
:classified
3 ,5^3
ll+0 ,58l+
8 2 ,8 16
8 5 .8 1 7
Stone, clay] M e tal and
and glass ]
its
products
] products
6 ,9 6 3
10 7 > 9 1
58,1*52
2 9 5 ,1 5 5
1 1 ,2 7 0
7 !*,668
1*2 8 ,10 5
75,751
: Printing, :
: publishing: Chemicals,
and allied
: and allied:
pr oduc ts
:industries i
5 1 ,9 6 3
3 ,3 8 9 ,U6l
2 3 .66u.it93
Paper,
pulp and
products
2 ,1 5 6
2 ,2 5 0
1 1 ,1+91
Forest
products
6,200
> ,5 5 7
7 ,> 3
Rubber
:
products :
578
3U1
N«tes and accounts receivable
(less reserve for bad debts)
Inventories
Investments., tax-exempt 3 /
Investments* other than
tax-exempt
it
Leather and]
its manu- ]
factures
]
2.7^5
Cash 2/
3
Tobacco
products
Textiles
and their
products
11,513
1+15,205
Assets:
—
: Liquors and :
: beverages
:
:(alcoholic and:
:non-alcoholic):
3 2 110 7 8
19^132
16 9 ,87!*
1 5 2 ,261*
966,682
6I+5 >158
2 2 9 ,1*22
2 ,2 1 9 ,7 6 7
27**, 59**
1 5 3 ,5 6 2
3 5 6 ,9 1 6
gli > 7 0
**6 3 ,5 5 8
77,165
2,197.358
1 7 **, 519
2,323,892
1 1 ,1 2 0 ,1 3 9
1 ,5 5 9 ,6 6 0
827,776
1*92,1*70
111,51*5
1*378,555
2 ,02H , 256
6,281,141
1*, 809,1*03
559*71*3
2 20 ,91*1
79*376
1 9 3 ,1*1*3
16 3 ,6 9 9
5 50 ,9 6 9
1*51, gl*7
1 0 0 ,6 1 5
1 ,8 78 ,78 8
1 7 ,1+0 2 ,6 2 1
1 ,5 59 ,6 6 0
2 3 6 ,8 0 1
2 ,0 5 1 ,1*21*
1,1*17,581*
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, December 15, 1937.
Press Servicp
NO. 11-98
Commissioner of Customs James H. Moyle today issued the following stat
showing imports of distilled liquors and wines and duties collected thereon611191 ■
covering the months of October, 1936 and 1937, and September, 1937, and the
first ten months of the calendar years 1936 and 1937*
October
1937
September
1937
October
1936
DISTILLED LIQUORS
(Proof Gallons)
Stock in Customs
Bonded Warehouses
at beginning ....
4,843,246
3,814,869
3,415,980
Total Imports (Free
and Dutiable) .... 1,666,877
2,273,911
1,494,881
Available for Consumption ........
6,510,123
6,088,780
4,910,861
Entered into Consumption (a) ..... 1,721,912
1,244,194
1,501,089
Stock in Customs
Bonded Warehouses
at e n d ......... . 4,784,651
4,843,246
3,408,398
STILL WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at beginning ..... 1,582,614
1,425,304
1,497,275
Total Imports (Free
and Dutiable) ....
244,838
368,533
299,240
Available for Consumption ........
1,827,452
1,793,837
1,796,515
Entered into Consumption (a.) ....
323,469
209,691
339,852
Stock in Customs
Bonded Warehouses
at end ...........
1,503,366
1,582,614
1,456,217
SPARKLING WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at beginning ......
291,401
222,066 .
195,160
Total Imports (Free
and Dutiable) ....
80,415
108,306
61,455
Available for Consumption ........
371,816
330,372
256,615
Entered into Consumption (a).....
61,337
38,771
55,128
Stock in Customs
Bonded Warehouses
at e n d ...... .
310,455
291,401
201,458
DUTIES COLLECTED ON:
Distilled Liquors $ 4,230,374 $3,065,687 $3,695,821
Still Wines ......
288,335
185,075
. 307,560
Sparkling Wines ..
184,587
115,746
165,522
Total duties collected on liquor .... $4,703,296 $3,366,488 $4,168,903
10 Mo s.
1937
•3,426,042
4,222,5®
13,639,805
10,152,71
17,065,847
14,375,31
12,189,044
10,874,6|
4,784,651
3,408,31
1,085,347
1,607,01
2,786,426
■1,907,21
3,871,773
3,514,31
2,361,628
2,036,71
1,503,366
1,456,21
137,455
232,71
507,414
219,53
.
333,800
243,4]
310,455
201,4|
$29,770,359
2,094,440
990,312
$27,250,8]
2,135,9]
931,31
$32,855,111
$30,318,1®
(a) Including withdrawals for ship supplies and diplomatic use.
— oOo—
452,21
644,869
IMPORTS OF DISTILLED LIQUORS AM) WINES
November
1937
DISTILLED LIQUORS (Proof Gallons):
Stock in Customs Bonded Ware-,
4,784,651
houses at beginning
Total Imports (Free and Dutiable) 1,967,928
6,752,579
Available for Consumption
1,806,291
Entered into Consumption k*)
-X y975-Exported from Customs .Custody" ~
Stock in Customs Bonded Ware
4,944,313
houses at end
STILL WINES (Liquid Gallons):
Stock in Customs Bonded Ware
1,503,366
houses at beginning
479,037
Total Imports (Free and Dutiable)
1,982,403
Available for Consumption
378,045
Entered into Consumption (a)
AM) DUTIES COLLECTED THEREON - NOVEMBER, 1937
11 Mos. (Jan.-Nov.)
November
Octqber
1937
1936
1937
1936
4,843,246
1,666,877
6,510,123
1,721,912
3,424,539
4,944,315
3,424,539
1,425,304
368,533
1,793,837
209,691
1,456,217
265,721
1,721,938
361,137
1,085,347'
3,265,465
4,350,810
2,739,673
1,607,096
2,172,962
3,780,058
2,397,898
1,360,417
1,603,741
1,360,417
201,458
64,938
266,396
101,016
T----58IT1--
137,455
632,602
770,057
411,922
232,724
284,472
517,196
344,438
165.322
357,521
165,322
4,264,813
319,661
303*030
4,887,504
$ 34,238,464
2,431,080
1 ,225,548
# 37,895,092
# 31,515,654
2,455,571
1,234,428
$ 35,205,653
$31*513,358- #36,514,785
30,567,169
414,710,781
#35,454,673 #452,605,87^
18« 9^
(a) Including withdrawals for ship supplies and diplomatic use.
(
4,222,560
11,893,941
16,116,501
12,598,181
'’'931781’*****
4,784,651
Stock in Customs Bonded Ware
1,582,614
1,603,741
houses at end
SPARKLING WINES (Liquid Gallons):
Stock in Customs Bonded Ware
222,066
310,455
houses at beginning
108,306
125,188
Total Imports (Free and Dutiable)
330,372
435,643
Available for Consumption
38,771
78,122
Entered into Consumption (a)
«■Bgpertod
Stock in Customs Bonded Ware
291.401
357.521
houses at end _______________
DUTIES COLLECTED ON:
Distilled Liquors
$ 4,468,105 # 4,230,374
Still Wines
336,640
288,335
Sparkling Wines
235,236 ^
184,587
Total Duties Collected on Liquor # 5 , 0 3 9 , 9 8 1 # 4,703,296
Tulul D m 111'w Ool 1anted mr Ot.hnr
31,811,489
Commodlties
26-r4 7 3 ,377
TOTAL DUTIES COLLECTED
3,426,042
15,607,733
19,033,775
13,995,335
3,408,398
1,741,151
5,149,549
1,723,574
--- ------------- 1,436-.^..
r B tvlsien of Statistics & Research,
B u re a u
o :f
O u g t ? o m # f .l
9'5tir
<
Sta.
OFFICE OF THE COMMISSIONER OF CUSTOMS
\
\
JAN2 4 1938
\
TO MR. GASTON
1
FROM THE COMMISSIONER OF CUSTOMS:
There is transmitted herewith a statement showing imports
of distilled liquors and wines, and duties collected thereon
covering the month of November, 1937, with comparative figures
for the months of November, 1936, and October, 1937, and the
first eleven months of the calendar years 1936 and 1937, which
may be suitable for press release.
TREASURY DEPARTMENT
Washington
L
Press Service
No. 12*31
IMMEDIATE R E L E A S E ,
Lay, Ja“uary 24> 1938'
Commissioner of Customs James H. Moyle today issued the following statement
■¿owing imports of distilled liquors and wines and duties collected thereon,
overing the month of November, 1937, with comparative figures for the months of
govember, 1936, and October, 1937, and the first eleven months of the calendar
rears 1936 sod 1937:
.
.
November
1937
October
1937
November
1936
4,784,651
4,843,246
3,408,398
3,426,042
4,222,560
1,967,928
1,666,877
1,741,151
15,607,733
11,893,941
6,752,579
6,510,123
5,149,549
19,033,775
16,116,501
1,806,291
1,721,912
1,723,574
13,995,335
12,598,181
4,944,313
4,784,651
3,424,539
4,944,313
3,424,539
1,503,366
1,425,304
1,456,217
1,085,347
1,607,096
479,037
368,533
265,721
3,265,463
2,172,962
1,982,403
1,793,837
1,721,938
4,350,810
3,780,058
378,045
209,691
361,137
2,739,673
2,397,898
1,603,741
1,582,614
1,360,417
1,603,741
1,360,417
310,455
222,066
201,458
137,455
232,724
125,188
108,306
64,938
632,602
284,472
435,643
330,372
266,396
770,057
517,196
78,122
38,771
101,016
411,922
344,438
357,521
291,401
165,322
357,521
165,322
$34,238,464
. 2,431,080
.
—
1,225,548
$31,515,654
..
2,455,571
1*234,428
$37,895,092
use.
$35,205,653
liquors
$ 4,468,105 $4,230,374 $4,264,813
still Wines ..... .
—
“
.. 319,661
.
.
336,640
288,335
Sparkling Wines ,..
235,236
184,587
303,030
Total duties collect—
ejLon liquor--- - $5,039,981 $4,703,296 $4,887,504
'a' Including withdrawals for ship supplies and diplomatic
•
m
pSTILLEB LIQUORS
I (proof Gallons)
Stock in Customs .
Bonded Warehouses
at "beginning ... ?,
Total Imports (free
and Dutiable) ....
Available for Consumption .........
Entered into Consumption (a) ....
Stock in Customs
Bonded Warehouses
at e n d ..........
STILL WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at beginning .....
Total Imports (Free
and Dutiable) ....
Available for Consumption .........
Entered into Consumption (a) .....
Stock in Customs
Bonded Warehouses
at e n d ..........
SPARKLING WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at Beginning .....
Total Imports (Free
and Dutiable) ....
Available for Consumption ... .....
Entered into Consumption (a).......
Stock in Customs
Bonded Warehouses
at end ...........
«—\
%—i
1------
1937
an.-Nov.)
1936
2-
”The subject matter,” according to the
invitation of the Section of Painting and Sculpture, nmust
contain on the obverse of the coin an authentic portrait
of Thomas Jefferson*
On the reverse side the subject m atter
will be a representation of Monticeli©, Jefferson’s historic
home near
Charlottesville.
In addition to the words
required by law to appear on the coin, the coin may contain the
i
side of the coin the word ’LIBERTY’ and the date ’1938’, and
upon the reverse side of the coin the inscriptions ’E PLURIBUS
UNUM’ and ’UNITED STATES OF AMERICA’, and the denomination »FI
CENTS’,
The coin should also contain the motto ’IN GOD IS
TRUST’, None of the legends or devices are to be abbreviated
and should be all in capital letters*”
To be acceptable to the Department, the
models, the conditions stipulate, sho&ld not exceed 8£ inches
in diameter and should be executed in relief so that the
background curves slightly fream the center to meet the edge of
the coin or border.
The conditions of the competition also
require that no models be signed but that they be accompanied
by plain, sealed envelopes enclosing the sculptor’s name and
address.
These will be numbered to match the designs and
opened after the selection.
number of designs any single
No limit has been set on the
sculptor may submit
For Tuesday pm’s
A $1,000 national competition among American
sculptors for the design of a new five-cent coin to he known
as the "Jefferson nickel" was announced today by Secretary
Morgenthau. T ^ _ r
IA lt hough
i n v it s t f l
Bur e a u ef th e »Mint i s sued e-lfcw
Tear.the'"preaen t twenty»*f iTc^iggiit
p i a si) i^thisr"
T S t a p t t W t l W .T&r
■ • T S ^ m m i r ^ ^ T t m e n t;
*4*^111 be conducted by the Section of Painting end Sculpture
of the Procurement Division.
According to law, the design of the coin of any
particular denomination mMgaiife may be changed only once in
twenty-five years o
The "buffalo nickel" will have been in
use for that period ©n February 21 and the competition for a
new coin will terminate April 15«
Mrs. Nellie Tayloe Ross, Director of the Mint,
and three sculptors, Sidney Waugh, Albert Stewart and Heinz
fe
¡ t ^ T diusUjL
Warn eke, iri±lr~^Trdgei:he designs^
7
^ach competitor muiv submit
two plaster models, one representing the obverse and the other t|
reverse side of the coin*
The winner will be paid $1,000 on
condition that he executes a formal contract with the Treasury
Department, agreeing, among o th er things, to make any
required by the Secretary of the Treasury.
revisions
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
ipnoftrifly. January 25, 1938»_______
'1725/38
Press Service
No, 13-32
A $1,000 national competition among American sculptors for the design of
a new five-cent coin to he known as the 11Jeff erson nickel0 was announced today hy
Secretary Morgenthau.
The competition will he conducted hy the Section of
Painting and Sculpture of the Procurement Division.
According to law, the design of the coin of any particular denomination
nay he changed only once in twenty-five years*
The "buffalo nickel0 will have
been in use for that period on February 21 and the competition for a new coin
will terminate April 15*
Mrs. Nellie Tayloe Ross, Director of the Mint, and three sculptors, Sidney
faugh, Albert Stewart and Heinz Warneke, will judge the designs and recommend their
choice to the Secretary of the Treasury for final approval.
Each competitor must
submit two plaster models, one representing the obverse and the other the reverse
side of the coin.
The winner will he paid $1,000 on condition that he executes a
formal contract with the Treasury Department, agreeing, among other things, to make
any revisions required hy the Secretary of the Treasury.
"The subject matter," according to the invitation of the Section of Painting
and Sculpture, "must contain on the obverse of the coin an authentic portrait of
Thomas Jefferson.
On the reverse side the subject natter will be a representation
of Monticello, Jeff erson* s historic hone near Charlottesville.
In addition to the
words required by law to appear on the coin, the coin may contain the inscription
'MONTICELLO1, in order to identify the architecture.
-2 ~
^The coinage laws require that there shall appear upon the obverse side of
the coin the word 'LIBERTY* and the date *1938», and upon the reverse side of the
coin the inscriptions * E PLURIBUS UNUM* and »UNITED STATES OE AMERICA1, and the
denomination 'EIVE CENTS*.
TRUST*.
The c o in should also contain the motto *IN GOD WE
None of the legends or/devices are to be abbreviated and should be all
in capital letters.**
To be acceptable to the Department, the models, the conditions stipulate,
should not exceed &§■ inches in diameter and should be executed in relief so that
the background curves slightly from the center to meet the edge of the coin or
border.
The conditions of the competition also require that no models be signed but
that they be accompanied by plain, sealed envelopes enclosing the sculptor's name
and address.
selection.
These will be numbered to match the designs and opened after the
No limit has been set on the number of designs any single sculptor
nay submit.
— 0O0—**
TREASURY » A B M
WASHINGTON
FOR RBL8A9Ä, MORNING
Tuesday, January 29, 1958.
,
P f s s s 8dp^|j|
îjzé/m
Secretary Morgenth&u announced last evening that the tenders for
#50,000,000, or thereabouts, ©f 91-day Treasury bills, to be dated January g||
and to mature April £7, 1938, which were offered on January £1, were opened
at the Federal Reserve banks on January £4.
The details of this issue are as follows$
Total applied for
Total accepted w
- #176,533,000
50,035,000
Rang® of accepted bides
High
Low
Average
- 99,980 Iquivalent rate approximately 0,079 perr
- 99.973
*
»
*
0.107
»]
- 99.974
«
*
»
o,103
J
price
(64 percent of the amount bid for at the low price was accepted)
f\
TREASURY DEPARTMENT
Washington
JOE RELEASE, MORNING- NEWSPAPERS,
Tuesday? January 25, 1938«
I7W38-
Press Service
No. 12-33
.~
Secretary Morgenthau announced last evening that the tenders for
$50,000,000, or thereabouts, of 91-day Treasury hills, to he dated January
26 and to nature April 27, 1938, which were offered on January 21, were
opened at the Federal Reserve hanks on January 24.
The details of this issue are as follows:
Total applied for
Total accepted
Hange of accepted bids:
High
Low
Average price
- $176,533,000
50,035,000
- 99.980
- 99.973
- 99.974
Equivalent rate approximately 0.079 percent
rt
tt
"
»
0.107
t
r
1!
»
»
0.103
(64 percent of the amount hid for at the low price was accepted)
-oOO'
TREASURY D EPARTMENT
Washington
FOR RELEASE, AFTERHOOH NEWSPAPERS,
Friday» January 28, 1938.________
I/Ï6738
Press Service
No. 12-34'
Secretary of the Treasury Morgenthau today made public the fifth
in the series of tabulations from the "Statistics of Income for 1935,
Part 2, Compiled Prom Corporation Income and Excess-Profits Tax Returns
and Personal Holding Company Returns for 1935", prepared under the direction
of Commissioner of Internal Revenue Guy T. Helvering,
The first of the two tables below presents the corporation returns
for 1935 distributed by total assets classes, and shows for each class,
the various assets and liabilities reported on balance sheets submitted with
the corporation income and excess-profits tax returns for 1935.
The second table presents aggregates for each of the assets and
liabilities for the years 1934 and 1935:
Returns of corporations submitting balance sheets for 19 3 5 by total assets classes, showing number of returns and
assets and liabilities as of December 3 1 , 1935» or the close of the fiscal year nearest thereto.
(Total assets classes and money figures in thousands of dollars)
Total assets classes
•
T o tal
;
U nder 50
:
•
50 t o 100
:
100 t o 250
250 t o 500
;
500 t o 1 ,0 0 0
:
1 ,0 0 0 to 5,0 0 0
;
5 ,0 0 0 t o 1 0 ,0 0 0
:
1 0 ,0 0 0 t o 5 0,00 0
•
Number of returns with balance sheets 1/
Assets;
Cash gj
Less
Notes and accounts receivable (1<
reserve for bad debts)
Inventories
Investments, tax-exempt 3 /
Investments other than tax-exempt
Capital assets— Lands, buildings, equip
ment (less depreciation and depletion)
Other assets
Total assets
Liabilities;
Notes and accounts payable
Bonded debt and mortgages
Other liabilities .
Capital stock - preferred •
Capital stock - common
Surplus and undivided profits
Less deficit
Total liabilities
1*15,205
227 , 5U5
5 8 , **3U
5 8 ,2 0 8
2 8 ,6 0 5
18,102
18,407
2 3 .66u.u93
3 2 7 ,0 6 6
257 , 8U3
620,1*91
7 7 5 , U81
1 ,O U O ,5 1 2
3 , 066,845
i
3 S ,6 9 0 ,^ 6 l
l U , 7 8 8 ,3 9 1
2 1 ,8 6 3 ,2 ^ 1
9 0 ,l6 3 ,l^ U
975,835
7 6 3 , 5**5
9 0 0 ,I7U
6 2 3 ,2 2 3
1 . 933.399
1 7 ,6 7 2
32,^63
235»725
1 .8 6 U .7 6 5
l,1 2 U ,7 3 0
15 9 ,3 5 6
73 U . 81 U
337,905
1 , 1 U5 ,328
2 ,2 7 2 ,2 3 0
1 , 133 , 37 >i
6 0 1 ,1 3 9
1 ,2 6 5 ,5 8 6
6 ,2 7 2 , 9 9 2
2 ,6 9 1 ,0 7 7
2 ,3 3 S ,8 8 U
8 , 193,763
1,11+5,1+13
1,2 2 0 ,0 5 2
**,9 2 3 ,0 9 3
153 . U83
1 ,0 1 5 ,2 7 1
5 0 ,0 0 0 and o v e r
2 ,7 6 9
2,393
7U2
,5 1 2 ,U56
3 .9 2 5 ,6 3 1
1 2 ,1 3 8 ,1 6 7
2 , 771 , **09
6 ,1 2 1 ,2 2 3
2 ,U 2 7 ,5 0 0
3 .3 9 1 ,8 0 5
i **,5**3,307
1 5 ,5 7 1 ,2 2 ?
3 ,2 6 3 ,6 8 9
13 , 75 **, 963
5 s . 3 6 8 .0 U 5
iO O ,U 7 9 ,S 7 i
13 ,5 0 0 ,6 3 0
1 , U9S , 933
39U,Uoo
1,7 6 7 ,0 2 2
3 ****, 532
k , 0 17,9 1*6
6 8 2 ,0 0 5
U , 159,789
70 S , 3'40
U .9 3 6 ,0 3 U
2**9,237
i3 .5 U l.5 U 6
2 , 192,873
6 ,8 9 5 ,4 4 7
8 6 5 ,2 8 6
1 6 ,3 1 2 ,6 1 3
2 , 357 , 24 s
**7 , 350,536
5 ,1 0 6 ,7 0 7
303 , 150,231
M 3 0 . 93U
1*, 1 6 0 ,9 8 9
9 . 20 U .107
1 0 ,0 7 6 ,1 1 3
1 2 .7 0 U .7 1 3
3 2 , 297,987
1 9 .3 U 2 .1 5 5
^ 9 , 0 7 9 ,9 2 7
1 5 6 ,1 5 3 ,3 0 5
25 , 331,692
1*9 , 821,895
1 , 102,791
57^,651
323 , 55 ^
1 ,9 5 * * ,7 8 6
3 ,o iU ,5 0 3
U .6 5 2 , 2 8 1
1 .U 03.750
5 , 305 , 5**8
3 . 8 6 9 ,0 3 7
8 6 3 , 7US
6 ,2 U 0 ,7 8 3
8,o 49, r 4o
8 8 6 ,9 6 3
4 , 208 , §80
2 , 250,133
1 , 156,279
U . 699,233
5 , 227,911
9 , 539,019
2 , 79^,752
1 1 ,1 9 1 ,6 8 6
7 , 215,279
2 ,^ 29,893
4 ,2 4 3 ,9 0 1
2 0 9 ,2 1 2
2 , lUU,3Q3
5 8 1 ,0 2 1
' 77^,633
1 , 932,772
1 , ^ 2 1 , 77U
1 ,1 9 0 ,3 6 2
5 ^U,322
3 ,2 9 9 ,7 ^ 6
1 , 1*1*4 ,2 7 8
1 , 229,153
1 , 906 , 7^9
1 , 759,716
2 , 849,051
8 2 ,7 3 2 , 8 3 8
U E ,8 2 0 ,0 6 5
1 2 ,1 6 2 ,9 1 s
l , 563 ,U 76
U25.197
U 63,2gU
1 8 7 ,2 7 1
2 , 799,617
- U 5 5 .S S S
1 , 763,790
2 7 , 802,950
5 5 , 715,018
2 , 972 , 57 ^
3 0 3 ,15 0 ,2 3 1
U, 1 3 0 , 93U
U, 1 6 0 ,9 2 9
9 ,2 0 4 ,10 7
1 2 .70u .7 1 3
33,297,927
8 9 ,0 6 5 ,5 0 8
1 9 , 533,151
1 ,6 8 7 ,1 9 6
1 ,U S 5 ,6 5 2
1 . 907 . **53
6 6 6 ,9 2 5
3 .6 9 5 .7 7 U
1 .7 U 2 .7 6 U
1 ,1 1 5 ,6 5 3
10 ,0 7 6 ,11 3
1 9 .3 U 2 .1 5 5
12 ,4 19 ,4 7 6
3 , 267,381
12 , 400 , 44 l
9 , 1*61 , 1**9
1 ,3 6 1 ,9 6 1
3 7 ,0 8 6 ,6 5 2
2 1 ,8 0 2 ,5 3 6
1 ,1 * 6 7 ,2 0 8
** 9 ,0 7 9 ,9 2 7
15 6 ,1 5 3 ,3 0 5
jkludes returns for inactive corporations and returns with fragmentary balance sheet data.
¡Includes cash in. till and deposits in bank.
¡Includes obligations of States and Territories or minor political subdivisions, obligations of instrumentalities of the United States,
F obligations of the United States or its possessions.
J
- 4-
In the f iv e competitions f o r Jhéwébé ^
p a in tin g s, designs remaining a fte r the award has been made
w i l l be re-examined to determine which of the a r t is t s
submitting them should be in v ite d to submit new designs
fo r the decoration of other Federal b u ild in g s in the ummm^
states included in each competition*
0 0 0 O 000
Artists
Tennessee
for
the
C o u r t R o o m o f the Y i c k s b u r g
committee
recommends
t h a t the
and
pictorial
of Y i c k s b u r g
subject
members
The
as
group
d e s c r i b i n g it a s
Lippincott a M
Harris
Jackson,
the
Station
entrance
are e l i g i b l e .
The Advisory
sculptor;
a n d other
A r t , All
M r s , Leon
the b u i l d i n g ;
to the
J a m e s C.
a nd A p p l i e d
Serving with
h i m w i l l be
President
of
f a c a d e of
Post
Office
New 1 M N B &
Section
o f Painting
Boudreau,
Director
Arts,
John Gregory,
W i l l i a m H, P o w e ll,
( N . Y.)
in N e w York,
Jury
w i l l be h e a d e d b y
o f the Sch©oi~iSiSl of F i n e
a r c h i t e c t of
m
d o o r o n the
o f the F l u s h i n g
Jersey
and C0 n n e c t i c u t
Miss,,
c o m p e t i t i o n far a m o d e l f o r a
Sculptors
N. Y.
"over-used
W a l t e r F.
S h e r w o o d , d i r e c t o r of
also w a s ennouicedFf^
Brooklyn,
and
Dickson,
$2,250
r e l i e f over
Sculpture
is M r s .
Yicksbuig ;
A
and
d e a l w i t h the
against
committee
Street,
are M i s s M a r y Clare
the F o r e s t H i l l s
eompetitien
matter,”
739 N o r t h St a t e
terra cotta
O f f i c e and
the b e a u t y
advises
a theme,
Saints College,
S.
f o r a mural
(Miss,) P o s t
subject matter
C h a i r m a n of t h e
Henderson,
to c o m p e t e
its c o n n e c t i o n w i t h
of Yicksburg,
Siege
Louisiana,
for w h i c h $ 2 t9 0 0 w i l l b e p a i d .
Mississippi River
the
Kentucky,
and M i s s i s s i p p b < 3 ^ ^ 1 n T r t e d
Court House,
history
in Arkansas,
Pratt
Lorimer
sculptor;
Institute,
R ich,
R o b e r t Iaureu
the A t l a n t i c
Terra Cot
C o m p a n y , and a r e p r e s e n t a t i v e of t h e P r o c u r e m e n t D i v i s i o n .
^ C o m p e t i t o r s h a v e b e e n r e f e r r e d to M r , B o u d r e a u f o r complete
-
2-
Miami city commissioner, and S. Peter Wagner, St* Petersburg (jl
artist*
Complete information on the competition is available
from Mrs. Fuller*
New York, New Jersey, Pennsylvania and
Connecticut,
been invited to compete for the thirteen
mural paintings to be installed in the lobby of the Bronx
Qentra.l Postal Station in New York( City at a cost of $7,000*
Henry Varnum Poor, New Y
greed
to serve as Chairman of an Advisory Jury to the Section of
Painting and Sculpture along with Thomas Harlan Ellett of
New York City, the building architect, and George Harding,
Philadelphia painter.
Form announcements giving details
of the competition will be supplied direct by the Procurement
Division, Washington.
The sum of $2,400 will be paid for a
balanced decoration o:
Parc el^oaii^Buildingc
Itschoice fron among
by Paul Morgan, Jr., of the Worcester Museum of Art.
Other
members of the competition committee are Maurice P. Meade,
rflNtesc architect of the building, Umberto Romano, painter;
Perry Cott, Assocd h t e Curator of the Worcester Museum of Art,
and Henry Scott, acting head of the Art Department, imherst Col.
fo r
Six competitions
buildings
in various
parts
by Secretary Morgenthau.
Section
of P a i n t i n g
Building
of
the
and
D a l las
of
the
decoration
country were
They will
Sculpture
(Tex,)
be
P r o c u r e m e n t division,
Office,
i n c l u d i n g the cost j
of
i n s t a l l a t i o n , 'the S e C t i o i F w f l i ^ - p a y # 7 , 2 0 0 .
is
o p e n to a r t i s t s
Kansas,
Montana,
Oklahoma,
in Arizona,
Nebraska,
Oregon,
California,
Nevada,
S o u t h Dakota,
a n n o u n c e d today
c o n d u c t e d b y the
o f t he
Post
o f Government
The
Colorado,
North Dakota,
Texas,
competition
Utah,
Idaho,
N e w ftexico,
W a s h i n g t o n and
Wyoming.
Members
Arthur Kramer, President
Frank Witchell,
Director
the
competition will
a r e a b y Mr.
of the
architect
of the Dallas
competition
c o m m i t t e e are
Dallas Art Association,
the
building,
Chairman
a n d R i c h a r d Howard, I
of F i n e A r t s •
supplied
to a r t i s t s
R e q u i r e m e n t s of
i n the
designated
Howard.
For
Miami
of
Museum
be
of the
(Fla.) P o s t
a mural
i n the m a i n c o u r t r o o m of the
Offi c e . Court House
S e c t i o n of P a i n t i n g
and S c u l p t u r e
c o m p e t e are
in Florida,
aftists
and
will
C u s t o m s B u i l d i n g the
pay $3,650.
Alabama,
E ligib l e to
G e o r g i a a n d South
Carolina.
Mrs. Eve Alsman Fuller
Hotel
Jacksonville,
Fla.,
is C h a i r m a n of the
competition committee
and w i l l b e
Miami
Beatrice Beyer Williams
architect;
College
Miss
f o r Wernen,
Tallahassee,
of the Mayflower
assisted b y H.
Fla.;
of
D . Seward,
the State
A l e x a n d e r ^ Orr,
Jr.,
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Thursday, January 27, 1938.
1/25/38
Press Service
No. 12-35
Six competitions for decoration of Government buildings in various
parts of the country were announced today "by Secretary Morgenthau.
They
will "be conducted "by the Section of Painting and Sculpture of the Procure
ment Division.
Eor three murals for the TERMINAL ANNEX BUILDING of the DALLAS (TEX.)
POST OFFICE, including the cost of installation, the Section will pay $7,200.
The competition is open to artists in Arizona, California, Colorado, Idaho,
Kansas, Montana, Nebraska, Nevada, North Dakota, New Mexico, Oklahoma,
Oregon, South Dakota, Texas, Utah, Washington and Wyoming.
Members of the competition committee are Arthur Kramer, President of
the Dallas Art Association, Chairman; Frank Witchell, architect of the
building, and Richard Howard, Director of the Dallas Museum of Fine Arts.
INpiirement s of the competition will be supplied to artists in the designated
area by Mr. Howard.
For a mural in the main court room of the MIAMI (FLA.) POST OFFICE,
COURT HOUSE and CUSTOMS BUILDING the Section of Painting and Sculpture will
pay $3,650*
Eligible to compete a,re artists in Florida, Alabama, Georgia
and South Carolina.
Mrs* Eve Alsman Fuller of the Mayflower Hotel, Jacksonville, Fla., is
Chairman of the competition committee and will be assisted by H. D. Seward,
Miami architect; Miss Beatrice Beyer Williams of the State College for Women,
Tallahassee, Fla.; Alexander Orr, Jr., Miami city commissioner, and S. Peter
Wagner, St. Petersburg (Fla.) artist.
Complete information on the competition
~ 2 ~
is available from Mrs. Fuller.
New York, New Jersey,. Pennsylvania and Connecticut artists have keen
invited to compete for the thirteen mural paintings to he installed in the
lobby of the BRONX CENTRAL POSTAL STATION in New York City at a cost of
$7,000.
Henry Varnum Poor, New York painter, has agreed to serve as Chairman
of an Advisory Jury to the Section of Painting and Sculpture along with
Thomas Harlan Ellett of New York City, the building architect, and George
Harding, Philadelphia painter.
Porn announcements giving details of the
competition will he supplied direct hy the Procurement Division, Washington.
The sum of $2,400 will he paid for a balanced decoration of the
entire lobby of the WORCESTER (MASS.) PARCEL POST BUILDING-.
The committee
that will recommend its choice from among designs submitted by artists in
the Now England States will be headed by Paul Morgan, Jr. , of the Worcester
Museum of Art.
Other members of the competition committee are Maurice P.
Meade, architect of the building, Umberto Romano, painter; Perry Cott,
Associate Curator of the Worcester Museum of Art, and Henry Scott, acting
head of the Art Department, Amherst College,
Artists in Arkansas, Kentucky, Louisiana, Tennessee and Mississippi
have been invited to compete for a mural for the Court Room of the
VICKSBURG (MISS.) POST OFFICE AND COURT HOUSE, for which $2,900 will be
paid*
The competition committee recommends that the subject matter deal with
the Mississippi River and its connection with the beauty and history of
Vicksburg.
The group advises against the Siege of Vicksburg as a theme,
describing it as nover«~used pictorial subject matter.n
- 3 -
Chairman of the committee is Mrs. Walter F. Henderson, 739 North
State Street, Jackson, Miss., and other members are Miss Mary Clare Sherwood,
Director of Art, All Saints College, Vicksburg; Mrs. Leon S. Lippincott
and Harris Dickson.
A $2,250 competition for a model for a terra cotta relief over the
entrance door on the facade of the FOREST HILLS STATION of the FLUSHING
(N.Y.) POST OFFICE also was announced.
Sculptors in New York, New Jersey
and Connecticut are eligible.
The Advisory Jury to the Section of Painting and Sculpture will be
headed by James C. Boudrea.u, Director of the School of Fine and Applied
Arts, Pratt Institute, Brooklyn, N.Y.
Serving with him will bo Lorimer
Rich, architect of the building; John Gregory, sculptor; Robert Laurent,
sculptor; William H. Powell, President of the Atlantic Terra Cotta Company,
and a representative of the Procurement Division.
Competitors have been
referred to Mr. Boudreau for complete information.
In the five competitions for paintings, designs remaining oJfter the
award has been made will be re-examined to determine which of the artists
submitting them should be invited to submit new designs for the decoration
of other Federal buildings in the states included in each competition.
— oOo—
First 6 months,
Fiscal Year
1937
1938
Vessels entering
United States
Automobiles entering
United States
Total persons
entering
%
of Increase
or Decrease (-)
1 6 ’9 7 I
17,400
2,5
6,212,716
5,673,495
-8.7
27,229,386
26,180,000
-3.9
739,500
740,000
0 .1
139,309
202,398
1,209,162
1,604,869
198,000
208,000
1,324,000
1,730,000
2,4
2,8
9,5
7.8
Export declarations
1,705,433
Value of exports(a) $1,070,145,000
Value of importai a) 1,011,117,000
Duties collected
217,390,143
1,960,000
#1,490,309,000
1,191,903,000
213,768,738
14.9
39.3
17.9
-1.7
4,491,877
5,710,000
27.1
Packages of merchandise
examined at appraisers
stores
Entries:
Dutiable consumption
Warehouse withdrawals
All other
TOTAL ENTRIES
Drawback allowed
(a) Five months* total; December figure not yet available
Customs/business for the ft get six months of the iurjoirtr
fiscal y e a n showed an increase in praoti-eally ev ery partienlar
over the corresponding period of the
year 193f, the
Commissioner of Customs announced today. ^
The total number of all entries of merchandise (1,730,000)
was 8 percent greater than in 193©l Dutiable consumption entries
and warehouse withdrawals, which are the chief sources of customs
revenue, were also greater,, thatt-dur lap the fir art el» »earths11«»fu
tihr prtTAtnr-f tini 'il-j.rr, A slightly larger number of packages
of merchandise were examined at appralseis aM/TOT" CLui'liig,,,tlie
•A t mnntha.and ^he value of imported merchandise
during the^NMfrfc five months Jexceeded $1,190,000,000, an increase
of 18 percent over the corresponding period/ of the previous 4 I A
year*
4
j 7
Exports showed an even greater increase than did imports,
DtJjU,
the number of export declarations during the filppt six months
.Tiftag, (1,960,000) being 15 percent greater,
and the value of exported merchandise during the
five months^ ^
($1,490,000,000) being 39 percent greater than during the corres
ponding period of the previous year. Tke aiiramib uf diawbaelr
allowed eg"1egperted^me^clraai’djhw
exceS^jQ^n l
tha±^efl3
Despite the increases in the number of entries and in the
value of imports, the amount collected as customs duties, accord
ing to the Daily Treasury Statement ($213,768,438), was slightly
less than for the corresponding period of 1934» each of the last
three months of the period showing smaller collections than # 8 L
the corresponding months of the previous year.
The number of vessels entering the United States direct
from foreign countries aggregated 17,400 which represented an
increase of 2.5 percent over the first"six months ef l O B f C "“The
number of automobiles entering the United States, on the other
hand, was 9 percent smaller and the number of persons 4 percent
The following table presents the information regarding customs
business in detail:
Sta.
OFFICE OF THE COMMISSIONER OF CUSTOMS
/2.-31
JAN 2 5 1938
TO MR. GASTON
FROM MR. MOYLE:
Th© attached statement of customs business during the first
six months of the fiscal year as compared with the same period
of the fiscal year 1937 has been prepared for use as a press
release if you deem it to be of sufficient interest.
TREASURY DEPARTMENT
Washington
?0R RELEASE, MORNING- NEWSPAPERS,
Tirnrsday, January 27, 1938,_____
tfmm
Press Service
No. 12-36
Customs business for the last six months of the calendar year 1937
(first half of the. current fiscal year) showed an increase over the corre
sponding period of the calendar year 1936, the Commissioner of Customs
announced today.
The total number of all entries of merchandise (1,730,000) was 8 per
cent greater than in 1936,
Dutiable consumption entries end warehouse
withdrawals, which are the chief sources of customs revenue, were also
greater.
A slightly larger number of packages of merchandise were examined
and the value of imported merchandise during the five months ended November
30, 1937, exceeded $1,190,000,000, an increase of 18 percent over the
corresponding period of the previous year.
Exports shewed an even greater increase than did imports, the number
of export declarations during the six months ended December 31, 1937,
(l,960,000) being 15 percent greater, and the value of exported merchandise
during the five months ended November 30, ($1,490,000,000) being 39 percent
greater than during the corresponding period of the previous year.
Despite the increases in the number of entries and in the value of
imports, the amount collected as customs duties, according to the Dally
Treasury Statement ($213,768,438), was slightly less than for the correspond
ing period of 1936, each of the last three months of the period showing
smaller collections than for the corresponding months of the previous year.
The number of vessels entering the United States direct from foreign
countries aggregated 17,400 which represented an increase of 2.5 percent over
2
the preceding year.
The number of automobiles entering the United States,
on the other hand, was 9 percent smaller and the number of persons 4 percent
smaller.
The following table presents the information regarding customs business in detail:
First 6 months,
Fiscal Year
1937
1938
Vessels entering
United States .......
16,971
.Automobiles entering
United States ........ 6,212,716
Total persons
entering............ 27,229,386
Packages of merchandise
examined at appraisers
stores . .............
739,500
Entries:
Dutiable consumption .
Warehouse withdrawals
All o t her .... .......
TOTAL ENTRIES.........
139,309
202,398'''
1,209¿162
1,604,869
^ of Increase
or Decrease
Export declarations
1,705,433
V^lue of exports (a) $1,070,145,000
Value of inports (a) $1,011,117,000
Duties collected ... $ 217,390,143
17,400
2.5
5,673,495
-8,7
26,180,000
-3,9
740,000
0.1
198,000
208,000
1,324,000
1,730,000
2.4
2.8
9.5
7.8
1,960,000
$1,490,309,000
$1,191,903,000
$ 213,768,738
14.9
39.3
17.9
-1,7
Drawback allowed ... $
4,491,877
$
5,710,000
7" i
i
va) Five months* total, December figure not yet available.
— oOo—
27.1
-4-
17* long by 7|r* wide by approximately 15* high«
For this work, including the cost of the stone and cost of instal
lation, the sculptor will receive $45,600.
-3-
the competitors themselves select their own juries had been successful*
WI think this method is by far the best 11 he said, adding with a twinkle
that ’’certainly the artists can*t kick#”
Mr* William E. Parsons, the architect of the Federal Trade Commis
sion Building, complimented the sculptors who served on the jury and
said that he, personally, was ’’delighted and impressed by the results
of the competition *n
He added that ”a great many of the sculptors showed
keen understanding of the architectural problems involved * 11
The models by Mr. Lantz each depict a heroic work horse being held
under control by a powerfully built man*
Both horses are in dramatic
positions and are clearly designed to balance each other when placed at
either side of the terrace on which the completed work will be installed*
The action of horse and man in each case is dramatic, the form massive*
The members of the jury commented that the models by Mr* Lantz ’‘were
designed in the great tradition of stone sculpture •’*
Michael Lantz was bora April 6 , 1908*
He studied at the national
Academy of Design and the Beaux Arts Institute, New York.
In the latter
school he received 1st Prize for the best composition of the year 1927-8;
second place medal Paris Prize 1929-30 and third place medal Paris Prize
1930-31*
He has exhibited at the Architectural League and the Pennsylvania
Academy*
At the present time he is WPA instructor in sculpture in the
Adult Education Department at New Rochelle, New York.
The kind of stone in which the full sized groups will be carried out
will be left to the selection of the sculptor, but must have the approval
of the Director of Procurement*
When installed the sculptures will Be
-2'
Mr* Weinman is also a member of the leading art associations*
His
works include the frieze far the United States Supreme Court Room and one
of the pediments on the Archives Building#
Mr* Manship was hailed as a leading American sculptor immediately
after his first exhibition in America#
This followed his studies as &
Fellow of the American Academy in Rome#
Like Mr* Lawrie, who has done
much monumental sculpture and Mr* Weinman, Mr. Manship is a member of the
leading art societies and is represented in many museums#
Such was the jury which the competitive sculptors themselves seleotedJ
It is the first time this procedure has been used#
After giving Mr, Lantz the winning award the jury selected four ^
Honorable Mentions#
The sculptors receiving the se were*
Henry Kreis of
Essex, Connecticut, Donald DeLue of New York City, Edmond Amateis of
Brewster, New York, and Benjamin Hawkins of New York City#
A number of
the other sculptors reoeived the commendation of the jury on account of
the distinguished quality of the models which they had submitted*
Mr. 'Weinman, commenting on the quality of the sculpture b ro u gh t forth
by the anonymous merit-system competition said that ”he had never before
seen such an amazingly fine body of sculpture in connection with any sculp*
ture project —
not in my entire long experience*1, he added#
Mr. Lawrie expressed equal enthusiasm for the work he had seen stating
that it was na wonderful lot**
Following his enthusiastic comments Mr«
Lawrie selected models of twenty sculptures to be submitted to the Board
of Design of the New York World*s Fair for the Board*s consideration#
Mr. Manship was asked whether he thought that the experiment of having
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, January 26, 1938
Press Service
12-
'S']
" J U l.
T h e T r e a by
-Os
ai-aa» Section of Painting
CU»^vurv^v>cAJl ^bo4b>M^L c3p)
and Soul ^ u r ^ -annnwna ea that Wf<^ ^ ^ a e T l j a ^ z ^ o f New Roc he 1 le, N e w '
York, won the competition for two stone sculptures to be placed at either
side of the terrace in front of the Federal Trade Commission Building
at the apex of the "Triangle“t in Washington, D. C.
M r • Lantz was one of the 247 artists to enter the anonymous merit*
system competition which was initiated six months ago by the Section of
Painting and Sculpture#
The jury which gave him the award was composed
of three nationally known sculptorsj
M
m
Lee Lawrie, Paul Manship
and Adolph Weinman, who were assisted by the architect of the Federal
Trade Consnission Building,
William E. Parsons.
This jury was selected by an unusual procedure since every artist
entering the competition was given the right to send in, with his models,
an unsigned ballot giving the names of the jurymen for whom he voted#
In other words, the jury was chosen by the competing artists themselves.
The three sculptors receiving the largest number of votes are artists of
wide experience*
Mr. Lawrie has received many awards, is a member of the leading art
associations and has executed a large number of important commissions for
various state capitols, universities and other institutions#
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, January 26, 1938.
Press Service
No. 12-37
The Section of Painting and Sculpture of the Procurement Division
announced today that Michael Lantz of New Rochelle, New York, won the com
petition for two stone sculptures to he placed at either side of the terrace
in front of the Federal Trade Commission Building at the apex of the,rTriangle1’,
in Washington, D. 0.
Mr. Lantz was one of the 247 artists to enter the anonymous meritsystem competition which was initiated six months ago "by the Section of
Painting and Sculpture.
The jury which gave him the award was composed of
three nationally known sculptors, Lee Lawrie, Paul Manship and Adolph Weinman,
who were assisted hy the architect of the Federal Trade Commission Building,
William E. Parsons.
This jury was selected hy an unusual procedure since every artist
entering the competition was given the right to send in, with his models,
an unsigned ballot giving the names of the jurymen for whom he voted.
In
other words, the jury was chosen hy the competing artists themselves.
The
three sculptors receiving the largest number of votes are artists of wide
experience.
Mr. Lawrie has received many awards, is a member of the leading art
associations and has executed a large number of important commissions for
various state capitols, universities and other institutions.
Mr. Weinman is also a member of the leading art associations.
His
works include the frieze for the United States Supreme Court Room and one of
'the pediments on the Archives Building.
-
2
-
Mr. Manship-was hailed as a leading American sculptor immediately
after his first exhibition in America.. This followed his studies as a
Fellow of the American Academy in Rome.
Like Mr. Lawrie, who has done much
monumental sculpture and Mr. Weinman, Mr. Manship is a member of the lead
ing art societies and is represented in many museums.
ouch was the jury which the competitive sculptors themselves selected.
It is the first time this procedure has been used.
After giving Mr. Lantz the winning award the jury selected four
Honorable Mentions.
The sculptors receiving these were:
Henry Zreis of
Essex, Connecticut, Donald DeLue of Hew York City, Edmond Amateis of Brewster,
Hew York, and Benjamin Hawkins of Hew York City.
A number of the other
sculptors received tho commendation of the jury on account of the distinguish
ed quality of the models which they had submitted.
Mr. Weinman, commenting on the quality of the sculpture brought forth
ty the anonymous merit-system competition said that
he had never before seen
such an amazingly fine body of sculpture in connection with any sculpture
project — »not in my entire long experience, n he added.
Mr. Lawrie expressed equal enthusiasm for the work he had seen stating
that it wa,s "a'wonderful lot."
Following his enthusiastic comments Mr. Lawrie
selected models of twenty sculptures to be submitted to tho Board of Design
of the Hew York World’s Fair for the Board’s consideration.
Mr. Manship was asked whether he thought that the experiment of
having the competitors themselves select their own juries had been success"I think this method is by far the best" he said, adding with a twinkle
that "certainly the artists can’t kick."
Mr. William E. Parsons, the architect of the Federal Trade Commission
tiding, complimented the sculptors who served on the jury and said that he,
-
3
-
personally» was "delighted and impressed by the results of the competition.”
He added that "a great many of the sculptors showed keen understanding of
the architectural problems involved. "
ïhe models by Mr. Lantz each depict a heroic work horse being held
under control by a powerfully built man.
Both horses are in dramatic posi
tions and are clearly designed to balance each other when placed at either
side of the terrace on which the completed work will be installed, , The
action of horse and man in each case is dramatic, the form massive®
The
members of the jury commented that the models by Mr. Lantz "were designed
in the great tradition of stone sculpture."
Michael Lantz was, born April 6, 1908.
He studied at the National
Academy of Design and the Beaux Arts Institute, New York.
In the latter - ..
school he received first prize for the best composition of the year 1927~2§,
second placé medal Paris Prige 1929-30 and third place medal Paris Prize
1930-31.
He has exhibited at the Architectural League and the Pennsylvania
Academy.
At the present time he is WPA instructor in sculpture in the Adult
^Education Department at New Rochelle, New York,
The kind of stone in which the full sized groups will be carried out
will be left to the selection of the sculptor, but must have the approval of
the Director of Procurement.
by
When installed the sculptures will be 1 7 1 long
wide by approximately 15* high.
Por this work, including the cost of the stone and cost of install«^
tion, the sculptor will receive $45,600*
— oOo—
>
Number
1937
1936
Percent of total
1936
“T937
~~
Agency
Alcohol
Tax Unit
5,137
5,543
44.4
48.2
Bureau of Narcotics
1,579
1,256
13.6
10.9
Secret
Service
1,071
942
9.2
8 .2
Customs Service
@8
42
•6
•4
SCjn+b /1
Treasury
UuZt
Total
All other
Grand TotaL
111
7
1 .0
.1
7,966
7,790
6 8 .8
67.8
5,614
3,698
31.2
32.2
11,488
1 0 0 .0
1 0 0 .0
11,580
Many
other
particularly in liquor
authorities
warrant
federal prisoners
cases, are turned
for prosecution
felony
♦ r e committed for mis demeanor s^xa?j
over to the local or
state
where the seriousness of the offense does not
action in the United
States
courts.
(more) -o-
The influx
curtailed
of
New
greatly. Illicit
York
amount of drugs
and vicinity
seized
drugs
drugs
are
into Pacific
ports has
been
still being introduced into the Port
in considerable quantities. The increase in the
this year is
t
possibly
of
p
-
reflecting intensified
(more) -o-
considered
significant
j
enforcement efforts«
except as
(add)
law enforcement
Bureau of Customs
A
were <|hief£y
tiie
devoted ▼ to
B^rcoticS traffic.
highly important
The
2^
^^ivities
Bureau oi> Customs
operations
Cooperating
,w.
with the Bureaufcf Narootics,
drugs
year, generally speaking^ was somewhat
seizures
increase over the year
about
2,500
was
more
*
Liquor
were somewhat
a
Vumbar rf|
made.
active
numbered more than
before.
year
against the illicit
seizures of
jit* 1936.|Merchandise
during the past
than
7,000, an
confiscations ^of
less
than
j§ *•*"
due
to
mproduction*
a
mSmitmm
the
decided
Narcotic
increase
The
in the quality
seizures
led
to
disoovored and
3,781
M #
the search
6,
seizure
behavior
of a
300,
was in New York
of a
vessel b y
delivarad to '¿ iiip a i# "agants
597
ship officers
tins of
smoking opium w:
effected
more important in
after a prolonged
final results
investigation
was
of
this
case#
the
smoking opium
Customs
A
weighing
considerable
Service
3,744 ounces* Seven
volume of heroin
was
a
seizure
agents of
S
convictions results
%
captured by
during the yearj^ with the result of heavy penalties
the offenders*
/hirtij
on
by customs
2-
tins
who
ounces.
However,
March
of domestic
before#
narcotic
on January 12, when the suspicious
Chinese
quantity
amounted to about
over the year
largest
and
«
------ la m , Safer,
Intelligence
Unit
■9/X
Sixty *
d>i>nrrritTlT3glfrltTr—
f
were convicted
to titi-inlwaijaffi:
S
same period
persons
p
1937
for
in
tax
the f e d e r a l courts
evasion
and
.A&P
in the
i l l '
taxes and penalties
A
were
recommended
for
A
assessment«
f l h f r f r — ITP-—fr] 111 T iiihio T O iiiii
addition to collections of
substantial
revenue
criminal cases*
taxes, penalties and interest,
accrued to the Treasury by
IX some jurisdictions
way
of fines imposed
the courts have imposed
an
additional penalty by requiring the defendants to pay the
cost of the
investigations, including
agents
the
salaries and expenses of
in
conducting
these inquiries.
Since the organization of the
involving
employes of the
service
have
unit
charges of a
been investigated
by
serious nature
special
L
in all cases
were the interests of
ted promptly
past
the
service
demanded, employes have
been
from their positions. In those instances in which violations of the
criminal statutes
connection
agent|
£
were indicated^prosecutions
eight persons have
been indicted
eleven months*
(more)
-o-
were instituted.
and five
In this
convicted during the
Counterfeit
coins
4ti
received
declined
from #67,535
to
#64,750. ft-tnJUl
^
.I.lUÛWW
/SY^S4L-*
Of
oasea
brought
to tr i a r ^ f M g ' ' resulted In convict ions,
$
9t>0
with
4UL
awaiting action of the
Outstanding in the year’s
incipiency
of a conspiracy
counterfeit
#20
the
in counterfeit notes
1
courts*
was the suppression in its
deceptive
Federal Reserve note printed on bleached genuine currency
districts, arrested
t^ptb*****^
cases
n
to flood the country with a most
paper. Agents In Pittsburgh, Detroit
the three
)
, in a
series of raids
in
twelve principals of the conspiracy. Less than 100
were placed in
were
and St. Louis
circulation. Ili
seized.
(more) -o-
one of the raids
#25, 000
The Coast
Guard
during
1937
participated in the coordinated
campai
A
against narcotics smuggling. Several thousand
trailed
anchored
awaiting discharge of oarg<^to prevent
imported narcotics to small
Contraband
with
1936.
life
at
examined
Yj^
seizures
contact
prearranged delivery
decline during the year as compal
was an important increase in the number of
well as in the number
Counterfeit
notes
Service
aggregating
^6 BMIjÌ5 ,^i*^ w e r e
"
,1-
in
year
to
$487,643
in 1937.
coins^imHJiw|
arrested by agent jsjof the Servj
and other miscellaneous offenses
;he Treasury ^department. The amount
Service by innocent
counterfeit
**** 1 ‘
*1> ■fp-—amiKiii....
. During that pariodvMMtf^persons were
forgery
seized during^^s ' »
Service, according to the rej
Frank J* Wilson. Agents confiscated
for counterfeiting,
vessels boarded
reported for violation.
by the Secret
the Secret
of
boats.
showed a marked
The Secret
G^ ief
J
connection with enforcement of maritime laws#»relating to safety of
sea, there
as
vessels, domestic and foreign,
States, or kept under surveillance
into and out of ports of the United
and
F 1
takers
(More) -o-
of
against
statute«
counterfeit notes turned over
decreased from
$736,670
in «bite
1936
(
5
1/2)
the
valued
at
$7,800
with
and
alcoholic
seizures
no
during
$12,900
p.he
$13#557, including
Indicative
were
year
at
of the ^virtual
the year. In
were
vessels
1936
Guard
domestic
beverages
valued
foreign
Coast
captured
foreign
(more) -o-
at
the
elimination
seized.
vessels
valued
$282,180
seized
of
by the
vessels
valued
$2,176.
year
property
T
before*
rums running
Coast Guard
valued
at
The principal drug of
and smoking opium
of a
>roin, with morphine
^
next in importance. For some
months there have been
scarcity of crude and smoking opium. Apparently there is still a
supply of heroin and morphine. Average prices
indications
substantial
localities!
are slightly, and in some
i
The
Rum
smuggling
Coast
from the high
Prohibition days, virtually has
commandant of the Coast
Guard
disappeared.
Guard, reported
vessel hovering off the American coasts
kept under
surveillance
cargo. Since that time, as
appeared off the
seas, an outstanding problem
Rear
Admiral
in
R.R. Waesche,
that the last known instance of a smuggli^
was in March, 1936. That
vessel
was
and forced to leave without disposing of any of its
far as can be
coast lines.
determined, no hovering
(more) «•©•
vessels
Q&ÂJ,M3 ^ \
On. January
violations, of
dispense
1, 1938
which
drugs
1,344
and
being
were
of
112
Anslinger
against persons
reported
only for that period.
convictions
and
that
eleven months
13
2,407 and
to
103. The total sentences
twenty-eight
npmber of
Atlanta
Kansas
82
and
117,
City
class there
reported
class
total convictions to
amounted to
5,022 year4
$200,131.
for narcotic
violations by
******.
77,
New York
Nashville
657,
250,
216, Minneapolis
Honolulu
statistics
rn .
dis tr X c ^ * 7 'fo li òws %
Boston
bringing
days and the fines
arrests
.
were
acquittals and in the unregistered
acquittals,
The
cases
registered
90
seven months and
to
class*
3,865
2,295 convictions and
acquittals
registered
of the year,
the
lm
6,123 /narcotic
in the unregistered
during the first
available
were pending
were
4,779
Commissioner
disposed
there
Philadelphia
Detroit
57,
85.
(more) -o-
178,
Denver
51,
193,
Chicago
Baltimore
101,
380, San intonio 543,
San Francisco
350,
Seattle
Ten large
United
narcotic
distributing
States, were
broken
The outstanding
drug addiction
rings, whose
agents operated
in many parts of I
up during the period.
•vmeesc^r of
was the passage
the year in the campaign against
of the federal law placing the traffic in nontaxraf
S-
r
I
maril^na
effect
in the same category as other nontaxpaid
October 1, 1937 • Marihuana, a bi-product
narcotic
narcotics. This law
of hemp, is an insidious
used chiefly in the form of cigarettes.
Smoking of a considerable number of
arettes
morbid
although
produces
a
depression.
most
violent
The
states
It is believed
use
went into
of marihuana
stimulating
traffic
have their
effect
in recent years
own
statutes
followed
has
marihuana cigj
ordinarily by
attained an alarming soope|
outlawing the drug.
that with the cooperation of the Bureau of Narcotics
A
may be
reduced
the illegal
substantially.
Figures compiled by the Bureau showed that
*2*0/5 T 4
ounces of illegal habit—forming
as compared with
ounces the year
(more) -o-
before.
drugs
were
seized
r\
Bureau of Narcotics
The illicit
magnitude* Commissioner
drug
traffic continúenlo be
a problem of m&jor
H.J. Anslingerjf of the Rireau of Narcotics^ reported
3 3 1 7
that
f or
the calendar year
persons were!
A
arrested for
violations of the narcotic
1936.
(more) -o-
laws
as compared with
in
V,
<
/T
”
~'y..
................... .
...... —
7 --- ^ s e i z u r e s of
msharply
showed
in 1937
the comparative
Stills
stills
Spirits
seized
decline.
The following
pending
16*670
12,335
689*823
374,918
13,564,562
8,880,889
4,397
3,624
489
452
14,249,856
$2,891,388
31,302
26,065
seized (gals.)
since
awaited
seized
There
was a noteworthy
cases
during the year,
8,883
December
action*
oaees
awaiting
easing
At
trial
decrease of 1*034
(more) -o-
in the
court
congestion
the end of 1937 there
grand jury
31, 1936, while for
a
likewisj
table
1937
arrested
from liquor
Arrests
1936
Automobiles
seized
T*
Tru cks
seized
Persons
f e n 0ff i
statistics;
(gals.)
Value of Property
mash
with the previous year.
Seized
Distilled
and
Zr
as compared
a considerable
shows
Mash
t
....... i'PiiiiOiL*," n B P ^ S K |$
action, a
action
in the year.
were
decline of 1,931
8,419
cases
itirticnlhgily
i.n 11,gw or eases
irnfinwHi
10U*SH85S'
■e eticw 'iB Ilio United
activity was directed
against violators of the liquor laws who
internal revenue taxes
Tax,unit
by #
bb
payment of
distillation of illicit
estimated that bootlegging had
been reduced
more liquor than in
spirits. The Alcohol
about ten percent
rican public apparently
durine ft
past years
volmjeat
but
a
the
was
greater proportion
For i
s
■^aw enforcement operations of the
Treasury Department during the calendar year 1937 were marked
by the crushing of ten major narcotic rings, initial Federal
efforts to control the marihuana traffic, a sharp reduction
in bootlegging and further improvement in the activity against
counterfeiters, Secretary Morgenthau said today*
Those highlights in the Department’s
protection of the Government against frauds on the revenue
end currency were reflected in a report to the Secretary by
Elmer L. Irey, designated late in the year as Co-ordinator of
Treasury Enforcement Agencies*
Mr* Trey, who has been continuing in
his post of Cjjief of the Intelligence Unit of the Bureau of
Internal Revenue, took over aid has been carrying on the
operation of the co-ordinated enforcement machinery set up
by Harold N* Graves, Assistant to the Secretary, who is now
conducting an exhaustive survey of the administrative
procedure of the Bureau of Internal Revenue*
Co-operating in the Joint attack on
.-u
'fire— in addition
criminals who attempt to cheat the Governmen^^^i^HWKfefeE^"
the intelligence Unit-- the Alcohol
Tex
Unit of the
Bureau
a
Internal Revenue, the Secret Service, the Bureau of Narcotics,
the Customs Agency Service and the United States Coast Guard.
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Monday, January 51, 1,938«_________
Press Service
No. 12-38
1/28/38
Law enforcement operations of the Treasury Department during the calen
dar year 1937 were marked "by the crushing of ten major narcotic rings, initial
Federal efforts to control the marihuana traffic,, a sharp reduction in hootlegging and further improvement in the activity against counterfeiters,
Secretary Morgenthau said today.
Those highlights in the Department ls protection of the Government
against frauds on the revenue and currency were reflected in a report to the
Secretary hy Elmer B. Irey, designated late in the year as Co-ordinator of
Treasury Enforcement Agencies^.
Mr. Irey, who has heen continuing in his post of Chief of the Intelli
gence Unit of the Bureau of Internal Revenue, took over and has heen carrying
on the operation of the co-ordinated enforcement machinery set up hy Harold N.
Graves, Assistant to the Secretary, who is now conducting an exhaustive survey
of the administrative procedure of the Bureau of Internal Revenue.
Cooperating in the joint attack on criminals who attempt to cheat the
Government are — in addition to the Intelligence Unit - the Alcohol Tax Unit
of the Bureau of Internal Revenue,, the Secret Service, the Bureau of Narcotics,
the Customs Agency Service and the United States Coast Guard.
years the major
ctivity of the group was
directed against violators of the liquor laws who tried to evade payment of
the internal revenue taxes hy distillation of illicit spirits.
The. Alcohol
Tax Unit estimated that hoot legging had been reduced about ten per cent on the
basis of information that the American public apparently was drinking no more
liquor than in past years but a greater proportion of taxpaid intoxicants*
r"
Seizures of stills and mash fell off sharply in 1937 as compared with
the previous year.
Arrests likewise showed a considerable decline.
The fol
lowing table shows the comparative statistics:
1937
1936
Stills seized..... .......................
Distilled spirits seized (gals.) ..........
Mash seized (gals.) ......................
Automobiles s e i z e d ......... ..............
Trucks seized............ . ...............
Value of property s e i z e d .............
Persons arrested ..........................
16,670
589,823
13,564,562
4,397
489
$4,249,856
31,302
12,335
374,918
8,880,889
3,624
452
$2,891,388
26,065
There was a noteworthy easing in the court congestion from liquor cases
during the year.
At the end of 1937 there were pending 8,883 cases awaiting
grand jury action, a decline of 1,931 since December 31, 1936, while for trial
action 8,419 cases awaited action, a decrease of 1,034 in' the year.
Bureau of Narcotics
The illicit drug traffic continued to be a problem of major magnitude.
Commissioner H. J. Anslinger of the Bureau of Narcotics reported that for the
calendar year 3,337 persons were arrested for violations of the narcotic laws
as compared with 3,402 in 1936.
Ten large narcotic distributing rings, whose
agents operated in many parts of the United States, were broken up during the
period.
The outstanding event of the year in the campaign against drug addiction
was the passage of the Federal law placing the traffic in non taxpaid marihuana
in the same category as other nontaxpaid narcotics..
October 1, 1937.
This law went into effect
Marihuana, a by-product of hemp, is an insidious narcotic
chiefly in the form of cigarettes.
Smoking of a considerable number of
- 3 -
marihuana cigarettes produces a violent stimulating effect followed ordinarily
by morbid depression.
The traffic in recent years has attained an alarm
ing scope although most states have their own statutes outlawing the drug.
It is believed that with the cooperation of the Bureau of Narcotics the
illegal use of marihuana may be reduced substantially.
Figures compiled by the Bureau showed that 20,556 ounces of illegal
habit-forming drugs were seized during 1937 as compared with 15,565 ounces
the yoar before.
On January 1, 1938, there were pending 6,123 cases of narcotic law
violations, of which 1,344 were against persons registered to dispense drugs
and 4,779 in the unregistered class.
Commissioner Anslinger reported that
3,865 cases were disposed of during the first eleven months of the year,
statistics being available only for that period.
In the registered class
there were 112 convictions and 13 acquittals and in the. unregi stered class
2,295 convictions and 90 acquittals, bringing total convictions to 2,407 and
acquittals to 103.
The total sentences amounted to 5,022 years, seven
months and twenty-eight days and the fines $200,131.
The number of arrests reported for narcotic violations by districts
for the full twelve months follows:
Boston 77, New York 657, Philadelphia 193, Baltimore 101, Atlanta 117,
Nashvillo 250, Detroit 178, Chicago 380, San Antonio 543, Kansas City 216,
Minneapolis 57, Denver 51, San Francisco 350, Seattle 82, and Honolulu 85.
The principal drug of addiction through the year continued to be heroin,
with morphine and smoking opium next in importance.
For some months there have
been indications of a scarcity of crude and smoking opium.
is still a substantial supply of heroin and morphine.
Apparently there
Average prices are
- 4 -
I slightly» and in some localities, considerably higher.
Much heroin continues
1 to "be highly adulterated.
The Coast Guard
Rum smuggling from the high seas, an outstanding problem in Prohibition
days, virtually has disappeared.
Rear Admiral R. R. Waesche, Commandant of
the Coast Guard, reported that the »last known instance of a smuggling vessel
hovering off the American coasts was in March, 1936.
That vessel was kept
under surveillance and forced to leave without disposing of any of its cargo.
Since that time, as far as can be determined, no hovering vessels appeared
off the coast lines.
During the year the Coast Guard seized property valued at $13,557,
including eleven domestic vessels valued at $7,800 and alcoholic beverages
valued at $2,176.
before.
This compared with seizures valued at $282,180 the year
Indicative of the virtual, elimination of rum-running, there were
no foreign vessels captured by the Coast Guard during the year.
In 1936
three foreign vessels valued at $12,900 were seized.
The Coast Guard during 1937 participated in the co-ordinated campaign
against narcotics snuggling.
Several thousand vessels, domestic and foreign,
were trailed into and out of ports of the United States, or kept under sur
veillance while anchored and awaiting discharge of cargo to prevent prearranged delivery of illegally imported narcotics to small contact boats.
Contraband seizures showed a marked decline during the year as compared
with 1936.
in connection with enforcement of maritime laws relating to
safety of life at sea, there was an important increase in the number of vessels
boarded and examined as well as in the number reported for violation.
5
The Secret Service
Counterfeit notes aggregating $654,78? were seized during 1937 by the
Secret Service, according to the report of Chief Frank J. Wilson.
confiscated $67,393 in counterfeit coins.
Agents
During that period approximately
2,600 persons were arrested hy agents of the Service for counterfeiting,
forgery and other miscellaneous offenses against statutes enforced Toy the
Treasury Department.
The amount of counterfeit notes turned ever to the
Secret Service hy innocent takers decreased from $736,670 in the 1936 fiscal
year to $487,643 in 1937.
Counterfeit coins received declined from $67,535
to- $64,750.
Of cases brought to trial approximately 2,000 resulted in convictions,
with 900 awaiting auction of the courts.
Outstanding in the yea.r’s cases was the suppression in its incipiency
of a conspiracy to flood the country with a most deceptive counterfeit $20
Federal Reserve note printed on bleached genuine currency paper.
Agents in
Pittsburgh, Detroit and St. Louis, in a series of raids in the three districts,
arrested twelve principals of the conspiracy.
spurious bills were placed in circulation.
Less than one hundred of the
In one of the raids $25,000 in
counterfeit notes were seized.
Intelligence Unit
Sixty-six persons were convicted in the Federal courts in 1937 for tax
evasion and in the same period $31,555,494 in taxes and penalties were recommended for assessment.
In addition to collections of taxes, penalties and interest, substantial
revenue accrued to the. Treasury by way of fines imposed in criminal cases.
In
6
some jurisdictions the courts have imposed an additional penalty hy requiring
1 the defendants to pay the cost of the investigations, including the salaries
and expenses of agents conducting these inquiries.
Since the organization of the Unit charges of a serious nature involving
employees of the service have "been investigated "by Special Agents and in all
cases where the interests of the service demanded, employees have "been sep
arated promptly from their positions.
In those instances in which violations
of the criminal statutes were indicated, prosecutions were instituted.
In
this connection eight persons have been indicted and five convicted during
the past eleven months.
Bureau of Customs
Law enforcement activities of the Bureau of Customs during the past year
were devoted chiefly to operations against the illicit narcotics traffic.
Cooperating with the Bureau of Narcotics, a number of highly important seizures
of drugs was made.
The year, generally speaking, was somewhat more active
than 1936.
Merchandise seizures numbered more than 7,000, an increase over the
year before.
Liquor confiscations of about 2,500 were somewhat less than in
1936 due to the gains in the quality and quantity of domestic production.
Narcotic seizures amounted to about 300, a decided increase over the year before.
The largest narcotic seizure was in New York on January 12, when the
suspicious behavior of a Chinese led to the search of a vessel by ship officers
who discovered and delivered to Treasury Agents 597 tins of smoking opium weigh
ing 3,781 ounces.
However, more important in final results was a seizure on March 6, ef
fected after a prolonged investigation by Customs Agents, of 599 tins of
7
smoking opium weighing 3,744 ounces.
Seven convictions resulted in this case.
A considerable volume of heroin was captured by the Customs Service during the
year with the result of heavy penalties against the offenders.
The influx of drugs into Pacific ports has been curtailed greatly.
Illicit drugs are still being introduced into the Port of Hew York and vicinity
in considerable quantities.
The increase in the amount of drugs seized this
year is. not considered significant except as possibly reflecting intensified
enforcement efforts.
For the 1937 fiscal year, 67.8 per cent of all inmates of Federal
penitentiaries had been committed as a result of investigations initiated by
Agencies of the Treasury Department.
A summary showing the number of Federal
prisoners committed to penitentiaries during the fiscal years 1936 and 1937,
with the number attributed to each enforcement agency of the Treasury, follows:
Per cent of Total
1937
1936
Numb er
Agency
1936
1937
Alcohol Tax Unit
5,137
Bureau of Narcotics 1,579
Secret Service
1,071
Customs Service
68
Intelligence Unit
111
5,543
1,256
942
42
7
44.4
13.6
9.2
•6
1.0
48.2
10.9
8.2
.4
.1
Treasury total
All other
7,966
3,614
7,790
3,698
68.8
31.2
67.8
32.2
11,580
11-,488
100.0
100.0
Grand total
Many other Federal prisoners are committed for misdemeanors, or, particu*-*
iarly in liquor cases, are turned over to the local or state authorities for
prosecution where the seriousness of the offense does not warrant felony action
in the United States Courts.
— t-o O q —
TREASURY DEPARTMENT
W a sh in g to n
i
FOR RELEASE, MORNING- NEWSPAPERS,
Monday, January 31, 1938.
1/28/38
’
'
~~
„
Press Service
No. 12-39
The new return form for quarterly reporting of taxes and taxable wages
under Title VIII of the Social Security Act will he available tomorrow in
offices of Collectors of Internal Revenue throughout the country, Commissioner
Guy Œ.■Helvering announced today.
Tonight is the deadline for the filing of December, 1937, returns under
last year*s regulations requiring monthly payment of Title VIII taxes and the
new return, identified, as Form SS-la, will bo due in April, 1938, to cover
payrolls for the quarter year ending March 31 of this year.
Detailed in
structions for their preparation are printed on the back of the new returns.
The return is designed to insure absolute conformity between taxable
wages reported on the tax portion of the return as the basis of the tax due,
and taxable wages reported on the infornabicn portion of the return as the
basis of credits to employees in the accounts of the Social Security Board.
To accomplish this, the information portion of the return, known as Schedule
A, provides spa,ce for listing the taxable wages pc?id to every employee during
the quarter-year period.
When all taxable wages have been listed on this
schedule, the total will be used as the basis for computing the tax due for the
quarter.
A continuation sheet, identified as Form SS-lb, for use when there is
not sufficient space on Form SS-la to list all employees, will also be available
to the public in the offices of Collectors of Internal Revenue in the near future
-
2
-
The new quarterly return will supersede the monthly-tax return
(Form SS-l) and semi-»annual information returns (Forms SS-2 and SS~2a) used
for the calendar year 1937 for reporting taxes and taxable wages under Title
VIII of the Social Security Act.
During 1937, the number of employers filing monthly tax returns on
Form SS-l under TitIS YIII of the Social Security Act was 1,796,421.
For the
first six months of 1937, employers reported taxable wages on information
return forms SS~2a for 36,204,000 employees.
Of this number, Collectors of
\
Internal Revenue have transmitted 35,136,456 returns to the Social Security
,
Board at Baltimore, Md., for recording to employees' accounts.
— oOo—
m u m m
m & à m m ®
m m m m m
ra t m
» , m
mmvjmm,
Press Service
Tee«day. February 1, 1958«
1/31/38
S N M t u r Morganthau announoad last avanlng that tbe tenderà for
«80 ,0 0 0 ,0 0 0 , or thère&bouts, of 91«4ay Treasury bìlil, te to© dated Februapy 2
and to mature Mar 4, XSS 8 , eh ich war« offa red <m January 28, war« opened at
thè fadaral Reserve beale« on January $1«
Tbe detail« of tbie issue are a« fellemi
Total applied fo r
Total aeeepted
fl8d,593,000
5 0 ,0 5 0 ,0 0 0
Range of aeeepted bidet
High
le »
Average price
99*981 Iq u lv a le a t r a t e approxim ateiy 0.075 peri
99.975
«
*
«
0.095
*
99.979
«
e
©
0.084
*
(44 pereent of tbe amount bid far et tbe lew price was aeeepted)
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Pross Service
No. 12-40
Tuesday, February I , 1958.____
I75Î7SÎ
Secretary Morgenthau announced last evening that the tenders for
$50,000,000, or thereabouts, of 91-day Treasury bills, to be dated February
2 and to mature May 4, 1938, which were offered on January 28, were opened
at the Federal Reserve banks on January 31.
•»\
I JÊ
H
The details of this issue are as follows:
Total applied for
Total accepted
•
- $184,593,000
50,060,000
Range of accepted bids:
High
- 99.981
Low
- 99.976
Average price
- 99.979
Equivalent rate approximately 0,075 percent
I
"
»
0,095
"
H
,1
0.084
11
(44 percent of the amount bid for at the low price was accepted)
-0O0-
-3-
( International
At the i yz yConference
for Safety of -liyo:
at Sea, which reaffirmed the 1914 London Convention, the
Contracting Governments agreed that the service he carried
S.
on hy the United States Gees t-■Guord with all maritime nation
providing a pro rata share of the cost.
The efficiency sal
value of the patrol is reflected, according to shipping
interests, in the facj£/that since its establishment there
has been no loss of life due to collisions with icebergs
within theTfi5i3>Patrol1 s scope of operations.
ooOoo
The PONTCHARTRAIN is under orders to be prepared
to leave New York by February 20 and the GENERAL GREENE will
be ready by March 15 to depart from Woods Hole, Mass,,
whenever after those dates the Commander of the Patrol Force
directs the ships to get under way.
The TAHOE and PONTCHARTRAIN will base temporarily
at Halifax, N. S., during the patrol, while the GENERAL
m
GREENE will make her base at St. Johns, Newfoundland, if
Lieut. G. V. Graves has been assigned as
Ice Observation Officer for the 1938 season and as such will
be at sea constantly during the patrol, transferring from
ship to ship as they relieve each other*
Senior Physical
Oceanographer Floyd M* Soule will embark on the GENERAL
GREENE and conduct oceanographic survey work from that
vessel*
Buties of the patrol, which provides at least
one vessel om constant twenty-four .watch during the ice season
are to locate by scouting and by radio information the iceberg^
and field^nearest to and menacing the North Atlantic
commercial
The preliminary observations due to begin next
week will be the second under the Act of Congress
1936, which continued under statute the provisions of
Orders which had previously authorized the patrol.
June 25,
Executive
and to keep trans-Atlantic shipping informed
of prevailing conditions in the Grand Banks region.
For Wedn0^day pm*s
X""
>■<
> < Z
J, -
* I
preliminary sap rsy vfoietf deteí^tfés"tlje ,<rfhe dula -of'the ainuaJ
Gem «íonth^Internati onaJXtce Patrol during the iceberg season!
in the North Atlantic".
American patrols of the steamship lanes,
especially near the Grand Banks of Newfound 1 and, were begun
almost immediately after the sinking of the TITANIC in 1912
and the present method of international collaboration grew
out of a convention signed in London in 1914.
Since that
time, with the exception of the World War years of 1917 aid
1918, the Coast Guard has maintained a yearly watch for ice
formations that menace navigation*
Rear Admiral R* R* Waesche, Commandant
st Guard, has designated Commander C* H. Dench,
^ftptrain^of the TAHOE, as Commander of this year’s In ternation
Ice Patrol Force, with the cutters PONTCHARTRAIN and GENERAL
GREENE participating and the cutter SEBAGO acting as standby
vessel.
more
The U n i t e d States C o ast Guard c u tter TAHOE was
o r d e r e d t o - d a y to be p r e p a r e d to d e p a r t
February
10,
f r o m B o s t o n to. i n a u g u r a t e the 1938 Ice
O b s e r v a t i o n Service,
prior
to the
Thursday,
a preliminary
establishment
survey carried on
of the r e g u l a r Ice Patrol,
to d e t e r m i n e p r e v a i l i n g ice c o n d i t i o n s in the North
Atlan t i c and to a s c e r t a i n the l o c a t i o n and progressive
m o v e m e n t of ice towards the N o rth
lanes.
proaches
The Ice Patr o l is
Atlantic
steamship
started w h e n the ice ap
the E u r o p e a n - U n i t e d States
ste a m s h i p routes.
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Wednesday, February 2, 1938._____
271/38. ‘
press Service
No. 1^-41
The United States Coast Guard cutter TAHOE was ordered today to he
prepared to depart Thursday, February 10, from Boston to inaugurate the 1938
Ice Observation Service, a preliminary survey carried on prior to the estab
lishment of the regular Ice Patrol, to determine prevailing ice conditions
in the North Atlantic and to ascertain the location and progressive movement
of ice towards the North Atlantic steamship lanes.
The Ice Patrol is started
when the ice approaches the European-United States steamship routes.
American patrols of the steamship lanes, especially near the Grand
Banks of Newfoundland, were begun almost immediately after the sinking of the
TITANIC in 1912 and the present method of international collaboration grew
out of a Convention signed in London in 1914.
Since that time, with the ex
ception of the World War years of 1917 and 1918, the Coast Guard has main
tained a yearly watch for ice fornications that mena.ee navigation.
Rear Admiral R. R. Waesche, Commandant of the Coa.st Guard, has desig
nated Commander G. H. Dench, Commanding Officer of the TAHOE, as Commander of
this year*s International Ice Patrol Force, with the cutters PONTCEARTRAIN
and GENERAL GREENE participating and the cutter SE3AG0 acting as standby
vessel.
The PONTOHARTRAIN is under orders to be prepared to leave New York
V February 20 and the GENERAL GREENE will be ready by March 15 to depart from
°ods Hole, Ma.ss. , whenever after those dates the Commander of the Patrol Force
directs the ships to get under way.
2
The TAHOE and PONTCHARTRAIN will base temporarily at Halifax, H. S. ,
during the Patrol, while the GENERAL GREENE will make her base at St. Johns,
Newfpundland, if ice conditions permit, falling hack on Halifax when neces
sary*
Lieut. G. V. Graves has heen assigned as Ice Observation Officer
for the 1938 season and as such will be at sea constantly during the Patrol,
transferring from ship to ship as they relieve each other. Senior Physical
Oceanographer Ployd M. Soule will embark on the GENERAL GREENE and conduct
oceanographic survey work from that vessel.
Duties of the Patrol, which provides at least one vessel on constant
twenty-four hour watch during the ice season, are to locate by scouting and
by radio information the icebergs and field ice nearest to and menacing the
North Atlantic commercial lanes, and to keep trans-Atlantic shipping informed
of prevailing conditions in the Grand Banks region.
The preliminary observations due to begin next week will be the second
under the Act of Congress of June 25, 1936, which continued under statute the
provisions of Executive Orders which had previously authorized the Patrol.
At the 1929 International Conference for Safety of Life at Sea, which
reaffirmed the 1914 London Convention, the Contracting Governments agreed that
he service be carried on by the United States Government with all maritime
nations which are parties tc the Convention providing a pro rata share of the
cost.
The efficiency and value of the Patrol is reflected, according to
shipping interests, in the fact that since its establishment there has been
no loss of life due to collisions with icebchgs within the.Patrol’s scope of
operations.
— oOo-*-
-
2
-
the American Society of Painters, Sculptors and Gravers and of the Art
Students* League of New York.
He is represented in the collection of the TBhitney Museum of American
Art (where he is the Curator of Prints), in the Davenport Municipal Art
Gallery, in the Museum of M o d e m Art, New York, and in various private
collections* He has exhibited in all of the leading national exhibitions
TREASURY DEPARTMENT
Washington
Immediate Release
Pres s Servioe
’ I2.- ‘fi.
The Treasury Department, Procurement Division, Seotion\of Painting
and Sculpture, announces that two mural panels, oil on canvas\ have been
installed in the Post Office Department Building, Washington, D. C*, on the
7th floor, south lobby* The subjects of the panels arej "The Arrival of
the Mail in N ew Amsterdam" and "French Huguenots in Florida*"
Mr* Free was one of the winners in the first national competition
held by the Section of Painting and Sculpture for the decoration, with paintJ
ing and sculpture, of the Justice Department and Post Office Department
Build
/v407 mural designs by 197 painters and 62 sculpture models by 47 soulp-|
tors,
entered in the anonymous merit-system competition*
The panel by Mr. Free depicting "The Arrival of the Mail in New
Amsterdam" shows the good ship "Zwolle" which, under Captain Yandergriffc,
traveled back and forth between old Amsterdam and New Amsterdam*
v
X
Concerning the lubject of the other
it <|oramelaorates a picturesque legend of a
by 4 certain Monsieur Ribaut and having an
pillar wap erected tofmark the landing of
panel, "French Huguenots in Florida*
stone pillar brought from France
it the coat of arms of France* Thai
the first brave band of Huguenots. I
The fIndians became so friendly with the first Huguenots, that after thel
little baxld found that it could not sustain itself and decided to go back to I
France to secure more members, the Indians made of the pillar called^ "Ribautj
Pillar" f a sacred spot and were in the habit of covering it with garlands
of flowers and it was at this spot that the second band of Huguenots, under
the Frenchman De Laudonniere, met the Indians under their Chief Saturiba*
Mr* Free*s mural panel commemorates this picturesque meeting*
Karl Free was b o m in Davenport, Iowa, May 16, 1903* His first
occupation was as a draftsman for a utilities company, a position which he
held for three years* Later he went to night school at the Tri-City Art
League, Davenport, Iowa, and became a student of Hermon More, Curator of the
Whitney Museum of American Art*
In 1923 he won a scholarship for the Art Students* League in New York |
and remained in that school for three years, studying under Joseph P e n n e ll»
Allen Tucker, Boardman Robinson and Kenneth Hayes Miller* A year later he
studied for a few months in the studio of Ezra Winter* His first o ne-m an
exhibition was held in 1929 in the Whitney Studio Galleries*
Mr* Free, in 1928-29, drew illustrations for the 13th Edition of
Encyclopedia Brittannica and on the proceeds went to Europe where h e tr a v e le d
in France, Belgium, Holland, Germany, Austria and Italy* He is a m em ber of
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, February 3, 1938.
Press Service
No. 12-42
The Treasury Department, Procurement Division, Section of Painting
and Sculpture, announces that two mural panels, oil on canvas, painted by
Karl Free,have been installed in the Post Office Department Building,
Washington, D. C., on the 7th floor, south lobby.
are:
The subjects of the panels
"The Arrival of the Mail in New Amsterdam" and "French Huguenots in
Florida."
Mr. Free was one of the winners in the first national competition hold
by the Section of Painting and Sculpture for the decoration, with painting
and sculpture, of the Justice Department and Post Office Department Buildings.
There were 407 mural designs by 197 painters and 62 sculpture models
by 47 sculptors, entered in the anonymous merit-system competition.
The panel by Mr. Free depicting "The Arrival of the Mail in New
Amsterdam" shows the good ship "Zwolle" which, under Captain Vandergrift,
traveled back and forth between old Amsterdam and New Amsterdam.
Concerning the subject of the other panel, "French Huguenots in Florida"
it commemorates a picturesque legend of a stone pillar brought from France by
a certain Monsieur Ribaut and having on it the coat of arms of France.
The
pillar was erected to mark the landing of the first brave band of Huguenots.
The Indians became so friendly with the first Huguenots, that after
ihe little band found that it could not sustain itself and decided to go back
to France to secure more members, the Indians made of the pillar called
Ribaut*s Pillar"
a sacred spot and were in the habit of covering it with
§or ands of flowers and it was at this spot that the second band of Huguenots,
’inder the Frenchman De Laudonniere, met the Indians under their Chief Saturiba.
^r* ^rGG*s mural panel commemorates this picturesque meeting.
- 2 -
Karl "Free was born in Davenport, Iowa, May 16, 1903*
His first occu
pation was as a.draftsman for a utilities company, a position which he held
for three years*
Later he went to night school at the Tri-City Art League,
Davenport, Iowa, and became a student of Hermon More, Curator of the Whitney
Museum of American Art.
In 1923 he won a scholarship for the Art Students* League in Hew York
and remained in that school for three years, studying under Joseph Pennell,
Alien Tucker, Boardnan Robinson and Kenneth Hayes Miller.
studied for a few months in tho studio of Ezra Winter.
A year later he
His first one—nan
exhibition was held in 1929 in the Whitney Studio Galleries.
Mr. Free, in 1928-29, drew illustrations for the- 13th Edition of
Encyclopedia Brittannica and on the proceeds went to Europe where he traveled
in France, Belgium, Holland, Germany, Austria and Italy.
He i s a nenbor of
the American Society of Painters, Sculptors and Gravers and of the Art
Students* League of Hew York.
He is represented in the collection of the Whitney Museum of American
Art (where ho is the Curator of Prints), in the Davenport Municipal Art
Gallery, in the Museum of Modern Art, Hew York, and in various private col
lections.
He has exhibited in all of the leading national exhibitions.
— oOo—
H
«
UNITED STATES SAVINGS BONDS
SALES IN EACH YEAR
STATES
I
ALABAMA
AR IZONA
ARKANSAS
CALIFORNIA
COLORADO
CONNECTICUT
DELAWARE
FLORIDA
GEORGIA
IDAHO
ILLINOIS
INO IANA
IOWA
KANSAS
KENTUCKY
LOUISIANA
MAINE
MARYLANO
MASSACHUSETTS
MICHIGAN
MINNESOTA
MISSISSIPPI
MISSOURI
MONTANA
NEBRASKA
NEVADA
NEW HAMPSHIRE
NEW JERSEY
NEW MEXICO
NEW YORK
NORTH CAROLINA
NORTH DAKOTA
OHIO
OKLAHOMA
OREGON
PENNSYLVANIA
RHODE ISLAND
SOUTH CAROLINA
SOUTH DAKOTA
TENNESSEE
TEXAS
UTAH
VERMONT
VIRGINIA
WASHINGTON
YIEST VIRGINIA
WISCONSIN
WYOMING
DIST OF COL
SUB TOTAL
POSSESSIONS
FOREIGN
GRAND TOTALS
1 9 3 5
1 9 3 6
1 . 3 8 1 . 1 0 0
3.2
5 7 6 . 9 2 5
1 9 3 7
2 8 . 4 5 0
1.1 2 6 . 8 2 5
Toil
5.1 4 6 . 7 2 5
1 . 8 8 2 . 6 7 5
1 . 9 2 8 . 4 5 0
3.583.1 7 5
4.4 33.1 5 0
1 0 . 0 0 3 . 4 0 0
1 9 . 2 2 5 . 6 2 5
32.1 7 7 . 5 2 5
3.231.1 2 5
6 . 6 8 9 , 7 0 0
9 . 9 3 7 . 2 7 5
1.1
2 . 5 0 8 . 6 7 5
4.3
0 2 . 0 5 0
8 9 , 0 5 0
1 39,1 5 0
4 2 9 . 7 0 0
6 5 7 . 2 7 5
2 . 7 6 8 . 4 5 0
4 , 5 1 0 . 7 5 0
6 . 4 2 7 . 0 2 5
2 . 5 2 6 . 7 5 0
4 . 6 7 8 . 2 5 0
6.1 8 8 . 9 2 5
7 8 5 . 4 5 0
1 . 2 9 9 , 6 0 0
2.1 2 3 . 1 5 0
2 4 , 6 6 4 , 0 7 5
48.1 6 7 . 5 7 5
7 0 . 8 0 1 . 8 5 0
1 0 . 1 8 2 . 7 5 0
15.689.1
1 4 . 8 0 8 . 8 7 5
2 1 , 0 0 1 . 3 5 0
25.735.1
1 1.1 1 2 . 2 7 5
1 4 . 6 1 3 . 8 5 0
1 7 . 9 0 6 . 5 7 5
5 0
2 1 . 7 8 0 . 4 0 0
7 5
3 . 9 4 5 . 6 0 0
5.4
1 . 9 0 2 . 8 2 5
3 , 8 7 7 . 3 5 0
5 . 8 3 1 . 8 2 5
1.0 1 9 . 9 0 0
1 . 7 2 2 . 0 7 5
3.1 0 3 , 7 7 5
2 . 0 7 1 . 5 2 5
5 . 7 0 6 . 6 5 0
7 . 7 7 4 . 3 0 0
8 9 , 7 5 0
8,51
1.9 5 0
4 . 7 4 6 , 0 7 5
8.2 1 3 . 6 2 5
1 5 . 5 7 0 . 5 5 0
1 1 . 3 1 0 . 2 7 5
1 9 , 2 9 1 . 7 0 0
28.660.1 5 0
1 2 . 2 3 5 . 4 7 5
21.493.1
3 1 . 8 5 1 . 2 5 0
1 . 7 9 0 . 3 5 0
15.2
3 7 . 3 2 5
7 5
3 . 5 7 9 . 2 5 0
2 0 . 4 9 6 . 8 7 5
4,91 7 . 9 0 0
25.1
0 8 , 8 7 5
2 . 6 7 9 , 4 7 5
4 . 8 0 9 , 9 2 5
6.1 6 4 , 7 0 0
7 . 2 5 0 . 0 5 0
1 1 . 3 5 9 , 5 0 0
1 3 . 6 7 3 . 5 2 5
3 2 5 . 7 5 0
61 6 . 9 5 0
71 6 . 4 7 5
6 0 0 . 2 2 5
8 8 1 . 9 7 5
1.372.1 0 0
3 . 9 3 1 . 7 5 0
8,61 8 . 4 0 0
1 5 . 9 4 5 . 2 2 5
6 4 4 . 4 5 0
1 , 0 8 0 . 4 7 5
1 . 5 6 6 . 7 0 0
1 8 , 9 2 2 . 8 7 5
3 1 , 2 7 5 , 6 0 0
5 3 . 8 2 2 . 5 7 5
3 . 6 4 3 . 9 5 0
5 , 3 5 6 . 5 2 5
7 , 7 0 1 . 8 7 5
2 . 7 4 1 . 3 5 0
3 . 6 3 6 , 3 7 5
1 7 , 9 1 8 , 5 2 5
24.899.1
0 0
4 . 5 4 5 . 7 7 5
3 6 , 9 6 5 , 6 2 5
4 . 4 7 3 . 2 5 0
7.7 0 3 . 8 5 0
1 1.1
3 . 3 5 9 , 7 2 5
5 . 7 4 5 . 0 7 5
7.1
1 3 . 3 7 5 . 0 0 0
2 5 . 3 8 6 . 9 5 0
6 1 7.1 2 5
1.41 3 , 9 2 5
7 9 5 , 0 7 5
2 3 . 0 0 0
4 3 . 7 3 8 . 4 0 0
1 . 8 5 7 , 9 7 5
1.1 7 5
3 . 2 3 1 . 7 0 0
2.1 1 3 . 9 7 5
3 , 3 6 4 . 9 7 5
4.2 0 9 , 3 5 0
2 . 9 7 7 . 8 5 0
4 . 5 6 6 , 4 5 0
6 , 4 8 1 . 0 7 5
1 0 . 7 4 2 . 4 7 5
1 7 . 2 8 0 . 0 5 0
2 5 . 9 7 0 . 3 2 5
7 4 9 . 0 2 5
1 . 2 6 3 . 8 2 5
424.1
2 5
2,51
1 1.075
91
8 . 7 2 5
1 . 4 9 7 . 4 0 0
1 . 4 1 6 . 3 5 0
3 . 0 4 6 . 3 0 0
5 . 3 9 2 . 6 2 5
7 . 7 4 3 . 5 7 5
4.1 8 0 , 2 2 5
7 . 7 2 8 . 5 5 0
1 1.1 3 4 , 4 7 5
3.4 3 9 . 0 0 0
4 , 3 2 3 . 7 7 5
9 , 5 3 4 , 6 5 0
1 6.1 9 6 . 8 5 0
2 2 . 6 6 3 . 8 5 0
2.0 0 2 . 6 5 0
637.1
6.1
0 1 . 4 0 0
2 5
1.2 1 5 . 3 0 0
9 , 5 0 8 . 3 7 5
2 4 . 7 1 2.1 7 5
2 6 8 , 7 2 0 . 7 2 5
4 5 8 , 2 6 3 . 3 7 5
3 0 1 . 6 0 0
8 3 3 . 5 5 0
1.1 4 6 , 8 2 5
1 9 8 , 9 5 0
1.31 3 . 3 7 5
2 6 9 , 0 2 2 , 3 2 5
4 5 9 , 3 0 0 . 8 7 5
9.0 1 5 , 6 0 0
648.690.1
651.1
2 5
5 0 . 3 2 5
9.756
3.586
9,944
61.406
19.8531
7.999,7
1.226,j
13,706,[
13.393.1)
4,20äf
1 43,633,1
47.652.1
61.545Í
43,632|
17,9 47Í
II.6 I2J
5.845.1
15,552.1
28,530j
59.262.1
65,5791
1 0.287,
60,843,!
13.654.J
32,283,!
1.659.1
2.854.1
28.495.1
3.291,!
104,021,1
16.702.1
1 0,923,’
79,783,
23.283.1
16.227.1
8 2,500,J
3.270.1
7.156.1
9 683,1
14.025,1
53.992.1
3,510, J
2,759,:
16,182,;
23,0 43,
1 3.864,!
48,3951
3,855,!
43,2 36.1
1.375,674,!
2.286,!
1,512
1,379,473,1
2
the rh ¿of vetitiiimj d 'h r g r m
if7^
«¥
uy ia
.
f v u
4s»- educat ion^children,
Among
features^*
-
____
I
5 rv
a%4*JT<*4L
<
wja ..a retirement fund, •
— 1 rnrin^foi emergency
ttejzon&s^moit frequently influencing their
safet]
p u r c h a s e are'
33-1/3 per cent in value if
held for 10 years. ^ Meciule«)
,,M~fh'~8'*~*~"'"lJ'' tllr t e
1S w
in g
il ....... in
d i iB m
III
w H h a p . -< gjaB eg H caph iM
f■ aiw w y ^ w t h e
III S 1 II m
iff
a t . w «j* i »,
Q T 9jynpnj
* J. .o
■yrmren nna nf the »nre
ag pri 'it#->e4i ewwi rt'1 • —
*,
^ ° ^ C .
aydUjtta
f \ 7 redemption feature
S#|*aJ
„maxes
U'fM.
.■PM.d.ea^L A L d a ? a ■ the r , u ^ ^ ^ . j
PP^ffSSRf removes
ionds sojifc^
while
he $100 bond unit is the mo^ipopular auitiTTlty"'^afire denomination and
laccounti f or 30.38 per ceft jCdfcBJto*. SqrjrO»
rv
A
*
23.71 per cent of sales.
The $25 unit ranks next with!
The $50 unit is next with a sale of 18.49 per cent.
The $1,000 unit follows with 18.19 per cent; while the $500 unit accounts for
?fl 9*23 per cent.
l/U—
Yearly sales to December 31 > 1937, by States, are presented in the attache
-Fl»iS Siit.iwhaiV# 1
«gjfgftff#
0
fa**"
Secretary «4
Morgenthau announced today that fegtagB^ , » f
p#
Savings Bonds, r aflffihod j wit h a maturity value .SSHfe of
<\
Urue<u£rf
d^^vu^M
^
fl33,O59j0©Ok aa all ime. hitflri/foi» a»month1a.g a l ^ djnce these bonds were first
T m *
<Lo&s*
fifo
offered on March 1, 1935,- *te»e- calc oKooodtejgl Januaiy, 1937,...geiro by approximate]?
$3>00Q,000.
The greatly increased sale aff Qi uingm D'
ui'
ids noted at the beginning of
each year ntnrr thsna ffarvniiiti nn hi m .ffr niTHTT H in n1 lirmi 1iiiw "iiitmT in llm i.[L
ef i n v e s t o r s b u y Savings Bonds on an annual basis and
make their
purchases within the first month of th§ yea
tjiji%
Jz*~. y > t . (
i/y¡rok$o6<iicod
a maturity value of
A
^ 200,000 Savings Bonds^®a*eteindividual investors.
*e(bought ^by more than 1,255/00^
The majority of the registered owners « M 8 3 S S & 0 K arei
small investors who are buying theajjf bonds out of income.
represent approximately 85 per cent of the bonds sold.
Purchases by individuaf
Of the remaining 15 per ef
9 per cent weaae purchased by banks and trust companies, 3 per cent by corporation^
and approximately 3 per cent by associations.
A Savings Bond may be redeemed at any time after 60 days fi^om i ^ ^ s ^ Sjgue(
date, *>»+-*rtra-r» 9 p pp^ <^n+.
-nmt -n rinifl'miiry th e r ntl
rn,
^>t»^ftij
*Ajt& i u § ^
st snifiiiag bonds redeemed.
A
less than 8 per cent -bf the
An average of 130,000 investors are buying Savings Bonds each month, a largej
proportion of ghiah are repeat purchasers.
Many thousands are undertaking a pla^j
of systematic saving through the regular purchase of th~rn rnmriit if^ each weex,
or at other intervals» HT friieii1 '
ohoic«.""'"
Recently a questionnaire was forwarded to the owners of Savings Bonds, Bna
to date several hundred thousand replies have been received.
<audit .has.
Whilo
cfyttQ.
-preliminary examination indicates that
—i
j.
A
TREASURY DEPARTMENT
Washington
JOE RELEASE, MORNING NEWSPAPERS
Monday, February 7, 1938.______
Jßßs
Press Service
No. 12-43
Secretary Morgenthau announced today that United States Savings Bonds
of a maturity value of $133,000,000 were sold during January, the largest
amount sold in any month since these Bonds were first offered on March 1, 1935.
The maturity value of the sales exceeded that of January, 1937, "by approxi
mately $3,000,000.
The greatly increased sales noted at the "beginning of each
year have "been due to the fact that many investors Buy Savings Bonds on an
annual Basis and generally make their purchases within the first month of the
year.
Up to January 31, 1938, 5,200,000 Savings'Bonds of a maturity value of
$1,501,000,000 had Been Bought By more than 1,250,000 individual investors.
The majority of the registered owners are small investors who are Buying the
"bonds out of income.
Purchases By individuals represent approximately 85 per
cent of the Bonds sold.
Of the remaining 15 per cent, 9 per cent was pur
chased By Banks and trust companies, 3 per cent By corporations, and approxi
mately 3 per cent By associations.
A Savings Bond may Be redeemed at any time after 60 days from its issue
date, But less than 8 per cent of the Bonds sold have Been redeemed.
An average of 130,000 investors are Buying Savings Bonds each month, a
large proportion of whom are repeat purchasers.
Many thousands are undertaking
a Pdan of systematic saving through the regular purchase of the Bonds each
week, or at other intervals.
Recently a questionnaire was forwarded to the owners of Savings Bonds,
a*id to date several hundred thousand replies have Been received.
Preliminary
-
2
-
examination of the replies indicates that most purchases are made to provide
funds for education of children, for retirement funds, or to set up a reserve
for emergencies.
Among the features of the bonds most frequently influencing
their purchase are safety, the constant availability of the funds and the
fact that Savings Bonds increase 33-1/3 per cent in value if held for 10 years
The redemption feature, which eliminates any chance of loss to the investor,
appeals to all purchasers.
The $100 bond unit is the most popular denomination and has accounted
for 30.38 per cent of the number of the bonds sold.
next with 23.71 per cent of sales.
per cent.
The $25 unit ranks
The $50 unit is next with a sale of 18.49
The $1,000 unit.follows with 18.19 per cent; while the $500 unit
accounts for 9.23 per cent*
Yearly sales to December 31, 1937, by States, are presented in the
attached tabulation.
- 3 «!•
UNITED STATES SAVINGS ftQNDS SALES IN EACH YEAR
States
Alabama . •. ■
Arizona . • •«
Arkansas . . ■
California ,
Colorado . . <
Connecticut
Delaware . . .
Florida . . . .
Georgia . . . .
Idaho . . . . . .
Illin o is . . .
Indiana . . . .
Iowa . . . . . . .
Kansas . . . .
Kentucky . . ,
Louisiana ..
Maine........
Maryland . ,
M assachusett
Michigan . . ,
Minnesota ..
M ississip p i
Missouri . .
Montana • . .
Nebraska • .
Nevada « . . .
New Hampshire
New J e r s e y
New Mexico
New York . .
North C a r o lin a
North D ak ota
Ohio...............
Oklahoma . . . .
O regon.............
P en n sy lv a n ia
Hhode I s la n d
South C a r o lin a
South D ak ota
Tennessee
Texas . . . ,
Utah . . . . .
Vermont . ,
V ir g in ia *
Washington .,
West Virgini;
Wisconsin
dom ing
& | t . o f C ol,
T o ta l
Possessions
Foreign ....
Ornnd T o t a ls * 9
1935
1,381,100
576,925
1,928,450
10,003,400
3,231,125
1,102,050
139,150
2,768,450
2,526,750
785,450
24,664,075
10,182,750
14,808,875
11,112,275
3,945,600
1,902,825
1,019,900
2,071,525
4,746,075
11,310,275
12,235,475
1,790,350
15,237,325
2,679,475
7,250,050
325,750
600,225
3,931,750
644,450
18,922,875
3,643,950
2,741,350
17,918,525
4,473,250
3,359,725
13,375,000
617,125
1,413,925
2,113,975
2,977,850
10,742,475
749,025
424,125
3,046,300
4,180,225
3,439,000
9,534,650
637,125
9,508,375
268,720,725
301,600
269,022,325
1936
3,228,450
1,126,825
3,583,175
19,225,625
6,689,700
2,508,675
429,700
4,510,750
4,678,250
1,299,600
48,167,575
15,689,150
21,001,350
14,613,850
5,489,750
3,877,350
1,722,075
5,706,650
8,213,625
19,291,700
21,493,175
3,579,250
20,496,875
4,809,925
11,359,500
616,950
881,975
8,618,400
1,080,475
31,275,600
5,356,525
3,636,375
24,899,100
7,703,'850
5,745,075
25,386,950
795,075
2,511,175
3,364,975
4,566,450
17,280,050
1,263,825
918,725
5,392,625
7,728,550
4,323,775
16,196,850
1,215,300
24,712,175
458,263,375
838,560
198,950
459,300,875
1937
5,146,725
1,882,675
4,433,150
32,177,525
9,937,275
4,389,050
657,275
6,427,025
6,188,925
2,123,150
70,801,850
21,780,400
25,735,175
17,906,575
8,511,950
5,831,825
3,103,775
7,774,300
15,570,550
28,660,150
31,851,250
4,917,900
25,108,875
6,164,700
13,673,525
716,475
1,372,100
15,945,225
1,566,700
53,822,575
7,701,875
4,545,775
36,965,625
11,111,075
7,123,000
43,738,400
1,857,975
3,231,700
4,209,350
6,481,075
25,970,325
1,497,400
1,416,350
7,743,575
11,134,475
6,101,400
22,663,850
2,002,650
9,015,600
648,690,125
1,146,825
1,313,375
651,150,325
Totals
9,756,275
3,586,425
9,944,775
61,406,550
19,858,100
7,999,775
1,226,125
13,706,225
13,393,925
4,208,200
143,633,500
47,652,300
61,545,400
43,632,700
17,947,300
11,612,000
5,845,750
15,552,475
28,530,250
59,262,125
65,579,900
10,287,500
60,843,075
13,654,100
32,283,075
1,659,175
2,854,300
28,495,375
3,291,625
104,021,050
16,702,350
10,923,500
79,783,250
23,288,175
16,227,800
82,500,350
3,270,175
7,156,800
9,688,300
14,025,375
53,992,850
3,510,250
2,759,200
16*182,500
23,043,250
13,864,175
48,395,350
3,855,075
43,236,150
1,375,674,225
2,286,975
1,512,325
1,379,473,525
- 3 -
Among the features of the bonds most frequently influencing their
purchase are safety, the constant availability of the funds and the
fact that Savings Bonds increase 33-l/3$ in value if held for 10 years.
The redemption feature, which eliminates any chance of loss to the
investor, appeals to all purchasers*
The $100 bond unit is the most popular denomination and has ac
counted for 30* 38$ of the number of the bonds sold.
next with 23.71$ of sales.
The $25 unit ranks
The $50 unit is next with a sale of 18.49$.
The $1,000 unit follows with 18.19$; while the $500 unit accounts for
9.23$.
As to population groups, cities of 100,000 and over account for
44.62$ of the sale, cities of 25,000 to 100,000, 13.92$, 10,000 to
25,000 population, 10.20$, 5,000 to 10,000, '7.68$, the remaining 23.58$
going to the villages and rural America.
The attached tabulations show for this period of one year^jthe
cash sales of the first ten ranking cities, towns and villages of the
first, second, third and fourth class post offices, which led the
Nation in their respective classes in the sale of Savings Bonds for
this period.
Likewise, there is shown for the same period the first, second,
third and fourth class offices in each State which lead in the total
cash amount of bonds sold.
Direct-by-mail and post office sales from Chicago, Illinois, give
that city the lead for the Nation*
Chicago’s cash sale for the period
was $25,577,200.
Approximately 16,000 post offices throughout the country are
authorized to sell United States Savings Bonds*
The Government to date actually retains more than 92$ of all of
the money that has been invested in Savings Bonds, less than
8% of
the bonds sold having been redeemed*
The majority of the registered owners are small investors who
are buying the bonds out of income*
Purchases by individuals represent
approximately 85$ of the amount of bonds sold*
Of the remaining 15$,
9% was purchased by banks and trust companies, 3$ by corporations, and
approximately 3$ by associations.
Recently a questionnaire was forwarded to the owners of Savings
Bonds, and to date several hundred thousand replies have been received
by the ireasury Department*
Preliminary examination of the replies
indicates that most purchases are made to provide funds for education
of children, for retirement funds, or to set up a reserve for emergencies.
NEWS RELEASE
FOR IMMEDIATE RELEASE
Secretary of the Treasury Morgenthau has announced that the total
maturity value of United States Savings Bonds sold through the close
of business March 7, 1938, amounted to $1,584,462,875.
This total was
purchased by more than 1,260,000 investors, and represents an average
sale for each business day since March 1, 1935, when these bonds were
first sold, of $1,720,375.
A record for one day* s sale of Savings Bonds was set on Monday,
January 10, of this year, when $10,029,775, maturity value, of these
bonds were reported sold on this single day.
Sales by post offices
throughout the country on that day represented $9,025,350, maturity value
of bonds, and direct-by-mail orders were received in Washington for
Savings Bonds of a maturity value of $1,004,425.
■^he sale of Savings Bonds for the calendar year 1937 was 34.2$
greater than for 1936, and the year 1936 exceeded the ten—months’ sale
of these bonds in 1935 by 82.8$.
**he total maturity value sale for the calendar year 1937 amounted
to $635,419,175, with approximately 600,000 purchasers, and an average
sale for each business day of $2,090,200.
Detailed analysis of the daily sale at each of the post offices
throughout the country authorized to sell Savings Bonds was begun on
September 1, 1936, and for the year ending August 31, 1937, showed that
there was a maturity value sale of $636,748,500, or an average sale of
2,101,500, for each business day for the first year these records were
kept.
PRESS RELEASE
NOTE ? This press release may be used in whole or in
part and is for immediate relea.se» It is suggested
that each postmaster either turn the release over to
his local ^newspapers, with special information con
cerning his office on the sale of Savings Bonds, or,
if preferred, the postmaster himself write for
publication any statement he may deem of interest.
In quoting from this analysis of sales, it
should be explained that these tabulations are for
one year’s sale, from September 1, 1936, through
August 31, 1937, this being the first year that these
tabulations were kept.
Mr. Frank S. Davis,
80 Federal Street,
Boston, Mass.
Mr. Ralph Robinson,
Maryland Trust Building,
Baltimore, Md.
/
/
/
Ex-Officio Members
Hon. Oliver B. Dickinson,
Judge of the District Court
for the Eastern District of Pennsylvania.
Mr. Joseph S. Buford,
Chief Assayer, United States Assay Office,
New York, N. Y.
Hon. J. F. T. O'Connor^
4 ffili.be unalilu T E T m i S M '
)
Comptroller of the Currency,
Washington, D. C.
unlife,la.
ftüftni
/
Mrs. Caspar Whitney,
113 East 71st Street,
New York, N. Y.
\
Mr. Ralph Steinberg,
101 Park Avenue,
New York, N. Y.
Mr. James McGovern,
Bridgeport Times-Star,
Bridgeport, Conn,
Mir. Albert Voice,
1009 66th Avenue,
Philadelphia, Pa.
Mrs. Ruth Bryan Owen Rohde,
7 West 81st Street,
New York, N. Y,
Mr. Marshall S. Y/alker,
Walker & Whyte, Inc. (Metallurgists)
409 Pearl Street,
New York, N. Y.
Mr. T. A. Duckworth,
Cashier, The Sohnstown Bank,
Johnstown, Ohio.
Mr. M. C. Migel,
654 Madison Avenue,
New York, N. Y.
Mrs. William. H. Good,
880 St. Marks Place,
Brooklyn, N. Y.
Mr. Prescott B. Pauli,
President, Bristol Town Council,
Bristol, R. I.
Mr. Edward J. Kelley,
14 Gage Street,
Worcester, Mass.
Mrs. Patience R. Ludlam,
Cape May Court House,
Cape May, N. J.
Mr. H. W. Bearce,
Co-Chief, Division of Y/eights and Measures,
Bureau of Standards,
Y/ashington, D. C.
Mr. Dwight Palmer,
President, General Cable Corporation,
420 Lexington Avenue,
New York, N. Y.
-2'
of the D ivisions of Weights and Measures of the National Bureai
of Standards, w ill
carry from Washington
the o f f i c ia l w eights of the Philadelphia Mint, which have been
calib rated at the Bureau of Standards during the past week.
The follow in g members o f the Commission have
been designated by the President:
For Sunday e m ’s
Mrs. Nellie Tayloe Ross* Director
of t J
Mint, will convene the Annual Assay Comission^ffHnesday $ 1
the United States Mint at Philadelphia^ for the traditional
ceremony marking the yearly «trial of the coins,” Secretary
Morgenthau announced today®
Seventeen citizens have been appointed!
by the President as members of the Commission, one of the oldesJ
institutions in the Government, having been created in 1801 and
assembled regularly since that time«
There are three ex-officll
monbers of the Commission.
j
At all United States Mints, iwrir—
I
one silver coin of every 2,000 delivered from the coining room I
to the Superintendent must, under the law, be taken out by the I
Superintendent for test by the Commission, which determines
whether they conform to legal requirements as to their weight
and fineness.
The coins are sealed and those from
other Mints sent to Philadelphia, where they are required to
be ¿Ur «carefully preserved in a pyx, under the joint a g w care
of the Superintendent and Assayer, for delivery to the Annua^ |
.
„
.
Assay Commission®«
UHrrRr
—*»--*
* “•
¿
a
TO-fc. ÇUu k T rydlsui^ 1
------ ----------------^
'
*pyx-chest, a receptacle for coins selected for trial,” which
derives frcm the early days of the British Mint®
For the 1938 test, 61,524 coins have
been « ¿ i S ä S i ä assembled a t Philadelphia®
H. W. Bearce,
Co-Chi«9
T R E A S U R Y DEPARTMENT
WASHINGTON
O FFIC E OF
D IR E C T O R O F T H E M IN T
February 4, 1938.
IN R E P L Y IN G Q U O TE IN IT IA L S
Memorandum for Mr. Gaston,
from Nellie Tayloe Ross.
The Annual Assay Commission will be convened by Mfr-s. Nellie Tayloe R®
Director of the Mint,on Wednesday, February 9th, at the
United States Mint at Philadelphia, for the ’annual trial of coins’.
The Commission is one of the oldest and most dignified institutions
in the government; it was created in 1801, and has convened each'
year since that time.
At all United States Mints, out of every 2000 silver coins
delivered from the coining room to the Superintendent, one coin must,
under the law, be taken out by the Superintendent, for test by this
Commission, which determines whether they conform to legal requirements
as to their weight and fineness.
The coins are sealed and sent to the Philadelphia Mint, where
they are required by law to be "carefully preserved in a pyx, under
the joint care of the superintendent and assayer, for delivery to the
annual assay commission”.
61,524 coins have been reserved for test this year.
Members of the Commission are appointed by the President.
Those who have been designated to serve this year, and who will be
present at the meeting are:
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday, February 6 , 1938. '
271738
Press Service
No. 12-44
Mrs. Nellie Tayloe Ross, Director of the Mint, will convene the Annual
Assay Commission at 10:00 A.M., Wednesday, in the United States Mint at
Philadelphia for the traditional ceremony marking the yearly rttrial of the
coins,n Secretary Morgenth.au announced today.
Seventeen citizens have been appointed by the President as members of
the Commission, one of the oldest institutions in the Government, having
been created in 1801 and assembled regularly since that time.
There are
three ex-officio members of the Commission.
At all United States Mints, one silver coin of every 2,000 delivered
from the coining room to the Superintendent must, under the law, be taken out
by the Superintendent for test by the Commission, which determines whether
they conform to legal requirements as to their weight and fineness.
The coins are sealed and those from other Mints sent to Philadelphia-*,
where they are required to be ,Tcarefully preserved in a pyx, under the joint
care of the Superintendent and Assayer, for delivery to the Annual Assay Com
mission. 11
The word "pyx11 in the law refers to !tpyx-chest, a receptacle for
coins selected for trial, 11 which derives from the early days of the British
Mint.
For the 1938 test, 61,524 coins have been assembled at Philadelphia.
Bearce, Co-Chief of the Division
of Weights and Measures of the National
Bureau of Standards, will carry from Washington the official weights of the
Philadelphia Mint, which have been calibrated at the Bureau of Standards
- 2 -
during tli© past week.
The following members of the Commission have "been designated "by the
President:
Mr. R alph Steinberg,
101 Park Avenue,
New York, H. Y.
Mr. James McGovern,
Bridgeport Times-Star,
Bridgeport, Conne cti cut.
Mr, Albert Voice,
1009 - 66th Avenue,
Mrs. Ruth Bryan Owen Rohde,
7 West 81st Street,
Hew York, H. Y.
Philadelphia, Pennsylvania.
Mr. Marshall S. Walker,
falker & Whyte, Inc., (Metallurgists)
409 Pearl Street,
New York, H. Y.
Mr. T. A. Duckworth,
Cashier, The Johnstown Bank,
Johnstown, Ohio.
Mr. M. C. Migel,
654 Madison Avenue,
New York, H. Y.
Mrs. William H. Good,
880 St. Marks Place,
Brooklyn, H. Y.
Mr. Prescott B. paull,
President, Bristol Town Council,
Bristol, Rhode Island.
Mr. Edward J. Kelley,
14 Gage Street,
Worcester, Massachusetts.
Mrs. Patience R. Ludlam,
Capo May Court House,
Cape May, Hew Jersey.
Mr. H. W. Bearce,
Co-Chief, Division of Weights
and Measures,
Bureau of Standards,
Washington, D. C.
Mr. Dwight Palmer,
President, General Cable Corporation,
420 Lexington Avenue,
New York, H. Y.
Mr. Prank S. Davis,
80 Eederal Street,
Boston, Massachusetts.
Mr, Ralph Robinson,
Mrs. Caspar Whitney,
113 East 71st Street,
Hew York, H. Y.
Maryland Trust Building,
Baltimore, Maryland.
Mr. George Moore,
Kenilworth Apartments,
Philadelphia, Pennsylvania.
Ex-Officio Members
Honorable Oliver B. Dickinson,
Judge of the District Court for the
Eastern District of Pennsylvania.
Mr. Joseph S. Buford,
Chief Assayer, United States Assay
Office,
Hew York, H.Y.
Honorable J. p. T, 0 *Connor,
omptroller of th e Currency,
Washington, D.C.
— oOo—
TREASURY DEPARTMENT
Washington
OR
PRESS SERVICE
No. 13-45
RELEASE, MrtRKmift NEWSPAPERS
J. P. T. 0*Connor, Comptroller of the Currency, today announced the comple
tion of the liquidation of 21 receiverships during the month of January, 1938. This
Lkes a total of 979 receiverships finally closed or restored to solvency since the
tanking Holiday of March, 1933.
Total disbursements, including offsets allowed, to
lepositors and other creditors of these 979 receiverships, exclusive of the 42
[estored to solvency, aggregated $367 440 359 00, or an average return of 79.9 per
cent of total liabilities, while unsecured creditors received dividends amounting
[to an average of 65.97 per cent of their claims.
Dividends distributed to creditors
of all active receiverships during the month of January, 1938, amounted to
¡$1 579 075 00.
Total dividends paid and distributions to depositors of all re
ceiverships from March 16, 1933, to January 31, 1938, amounted to $895 055 623 00.
pORLEY NATIONAL BANK, HURLEY, WISCONSIN:
This bank was placed in receivership June 21, 1932.
Depositors and other
creditors received, including offsets allowed, $486 684 00, representing 87.97$ of
l°tal liabilities established.
Unsecured depositors received dividends aggregating
p,25$ of claims proved.
pITIZENS NATIONAL BANK, MONTI CELLO, KENTUCKY:
This bank was formerly in conservatorship.
phip August 23, 1933.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
allowed, $169 955 00, representing 100.17$ of total liabilities established.
Unse-
|ure<^ depositors received dividends aggregating 10 0 $ principal plus an additional
interest dividend of .3 5 $.
?KST NATIONAL BANK, HAVERHILL, MASSACHUSETTS:
This bank was formerly in conservatorship.
It was finally placed in
-
Ieceivorship August 29, 1333.
2
-
Depositors and other creditors received, including
offsets allowed, $2 022 692 00, representing 103.78$ of total liabilities estab
lished* Unsecured depositors received dividends aggregating 100$ principal plus
In additional interest dividend of 5.462$.
Assets and stockholders’ unpaid
Assessments having book values in the respective aggregate amounts of $209 455 00
and $59 237 00 and cash in the sum of $13 575 00 were transferred to an agent
.sleeted by the shareholders.
IEOH NATIONAL BANK, IR0NW00D, MICHIGAN:
This bank was placed in receivership May 26, 1931.
Depositors and other
['creditors received, including offsets allowed, $487 951 00, representing 91.69$ of
total liabilities established.
Unsecured depositors received dividends aggregating
187.3$ of claims proved.
FIRST NATIONAL BANK, ROCK VALLEY, IOWA:
This bank was formerly in conservatorship.
ship October 31, 1833.
It was finally placed in receiver
Depositors and other creditors received, including offsets
1allowed, $257 700 00, representing 81.78$ of total liabilities established.
Unse
cured depositors received dividends aggregating 84•05$ of claims proved.
HHST NATIONAL BANK, NEW MATAMORAS, OHIO:
This bank was formerly in conservatorship.
ship September 26, 1933.
It was finally placed in receiver
Depositors and other creditors received, including off
sets allowed, $363 603 00, representing 103.68$ of total liabilities established.
Unsecured depositors received dividends aggregating 10 0 $ principal plus an addi
tional interest dividend of 4.42$.
FIRST NATIONAL BANK, N0RTHW00D, NORTH DAKOTA:
This bank was placed in receivership Eebruary 5, 1930.
Depositors and other
creditors received, including offsets allowed, $164 453 00, representing 55.63$ of
- 3 -
total liabilities established.
Unsecured depositors received dividends aggregating
39.45$ of claims proved.
FIRST NATIONAL BANK, YUKON, PENNSYLVANIA:
This bank was placed in receivership September 20, 1932.
Depositors and other
creditors received, including offsets allowed, $69 818 00, representing 58.63$ of
total liabilities established.
Unsecured depositors received dividends aggregating
¡28.3$ of claims proved.
FIRST NATIONAL BANK, ELLIS, KANSAS:
This bank was formerly in conservatorship.
!ship August 23, 1933.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
allowed, $134 626 00, representing 79.36$ of total liabilities established.
Unse
cured depositors received dividends aggregating 70.7$ of claims proved.
FARMERS NATIONAL BANK, HICKORY, PENNSYLVANIA:
This bank was placed in receivership Hay 6 , 1931.
Depositors and other cred
itors received, including offsets allowed, $454 186 00, representing 81.87$ of
total liabilities established.
Unsecured depositors received dividends aggregat
ing 79.92$ of claims proved.
FIRST NATIONAL BANK, WEST FRANKFORT, ILLINOIS:
This bank was placed in receivership December 7, 1931.
Depositors and other
creditors received, including offsets allowed, $789 242 00, representing 76.8$ of
tota,l liabilities established.
Unsecured depositors received dividends aggregating
57.47$ of claims proved.
FIRST NATIONAL BANK, LIVINGSTON, ILLINOIS:
This bank was formerly in conservatorship.
shiP July 5, 1934.
It was finally placed in receiver-
Depositors and other creditors received, including offsets
flowed, $186 061 00, representing 92.5$ of total liabilities established.
- 4 -
Pnsecured depositors received■dividends aggregating 84 ¿4$ of claims proved.
IFIRST NATIONAL BANK, WAVERLY, NEW YORK:
This hank was formerly in conservatorship.
ship October 24, 1933.
It v/as finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $827 964 00, representing 91.67$ of total liabilities established.
Unse
cured depositors received dividends aggregating 91.06$ of claims proved.
CENTRAL NATIONAL BANK, ELLSWORTH, KANSAS:
This bank was placed in receivership March 30, 1931.
Depositors and other
creditors received, including offsets allowed, $870 062 00, representing 77.6$ of
total liabilities established.
Unsecured depositors received dividends aggregating
67,12$ of claims proved.
[CREIGHTON NATIONAL BANK, CREIGHTON, NEBRASKA:
This bank was placed in receivership January 9, 1932.
Depositors and other
creditors received, including offsets allowed,- $.116 032 00, representing 75.63$ of
total liabilities established.
Unsecured depositors received dividends aggregating
45$ of claims proved.
OLNEY NATIONAL BANK, HARTEORD, MICHIGAN:
This bank was formerly in conservatorship.
!s^ip September 26, 1933.
It was finally placed in receiver-
Depositors and other creditors received, including offset
flowed, $405 752 00, representing 84.26$ of total liabilities established.
Unse
cured depositors received dividends aggregating 78.25$ of claims proved.
FIRST NATIONAL BANK, MARYVILLE, MISSOURI:
This bank was placed in receivership August 10, 1931.
Depositors and other
creditors received, including offsets allowed, $499 574 00, representing 90.1$ of
total liabilities established.
87 T«7(i jy
of claims proved.
Unsecured depositors received dividends aggregating
- 5 -
CITIZENS NATIONAL BANK, WINCHESTER, KENTUCKY:
D epositors and creditors of record were paid in full "by assumption of liabili
ties by another hank.
Receiver was appointed July 25, 1935, for the purpose of
collecting $ stock assessment covering deficiency in value of assets sold and/or
completing unfinished liquidation.
Total disbursements under this receivership,
including offsets allowed, aggregated $99 127 00, representing 100.02$ of total
lia b ilit ie s ,
Cash in the sum of $11 575 00 was returned to the shareholders.
PLANTERS NATIONAL BANK, FREDERICKSBURG, VIRGINIA:
Depositors and creditors of record were paid in full by assumption of liabili
ties by another bank.
Receiver was appointed May 3, 1934, for the purpose of
collecting a stock assessment covering deficiency in value of assets sold and/or
completing unfinished liquidation.
Total disbursements under this receivership,
including offsets allowed, aggregated $228 108 0 0 , representing 10 0 $ of total
liabilities. ■ Assets and stockholders’ unpaid assessments having book values in
the respective aggregate amounts of $78 455 00 and $25 800 00 and cash in the sum
[of $37 816 00 were transferred to an agent elected by the shareholders.
HOLSTON NATIONAL BANK, ELIZABETHTON, TENNESSEE:
Depositors and creditors of record were paid in full by assumption of liabili
ties by another bank.
Receiver was appointed June 14, 1932, for the purpose of
collecting a stock assessment covering deficiency in value of assets sold and/or
completing unfinished liquidation.
Total disbursements under this receivership
including offsets allowed, aggregated $83 577 00, representing 27.92$ of total
liabilities.
FARMERS NATIONAL BANK, RAVI LAND, OHIO:
Depositors and creditors of record were paid in full by assumption of liabiliies by another bank.
Receiver was appointed August 9, 1934, for the purpose of
c°Uecting a stock assessment covering deficiency in value of assets sold and/or
- *-
to complete unfinished liquidation.
Total disbursements under this receivership,
including offsets allowed, aggregated $14 395 00, representing 100.01# of total
lia b ilitie s .
Assets and stockholders1 unpaid assessments having "book values in
the r e s p e c tiv e aggregate amounts of $25 002 00 and $9900 00 and cash in the sum
of $25 00 were transferred to an agent elected by the shareholders.
I
JAN U AR Y,
Name and Location of Bank.
Hurley Natl Bank
Hurley, Wise
Citizens Natl Bank
Monticello, Xy
First Natl Bank
Haverhill, Mass
Iron Natl Bank
Ironwood, Mich
First Natl Bank
Rock Falley, Iowa
First Natl Bank
New Matamoras, Ohio
First Natl Bank
Northwood, N. Dale.
First Natl Bank
Yukon, l a
First Natl Bank
Fills, Kans
Farmers Natl Bank
Hickory, Fa
First Natl Bank
West Frankfort, 111
First Natl Bank
Livingston , - 1 1 1
First Natl Bank
Waverly, N. Y.
Central Natl Bank
F I 1swor th, Kans
1938.
I er Cent
ier Cent
Total
Total DisDivi dend
Disbursements
bursernents
Declared
Date of
Including
to Total
to All
Failure. Offsets Allowed. Liabilities. Claimants.
6-2 1 -3 2
$
Capi tal
Stock at
Date of
Failure,
Cash, Assets,
Uncollected Stock
Assessments, etc.
.Returned to Share holders1 Agent.
Ug6 6gU 00
27.97
7 6 .2 5
$ 50 000 00
25 000 00
000
200 000 00
2 g2 26 7 00
10 0 000 00
000
$
000
2/
2-23-33
169 955 00
1 0 0 .1 7
10 0 .3 5
£/
2-29-33
2 0 22 692 00
1 0 3 .7 2
1 0 5 .U6 2
5-26-31
hSJ 951 00
9 1.6 9
2 7 .3
2/
10-31-33
257 700 00
91.72
gu.0 5
50 000 00
000
2/
9-2 6 -3 3
363 603 00
1 0 3 .6g
10*4**12
50 000 00
000
2-5 -3 0
l6U U53 00
55.63
39.^5
50 000 00
000
9-2 0 -3 2
69 gig 00
5 2 .6 3
2 S .3
30 000 00
000
2-23-33
13*4 626 00
79.36
70.7
50 000 00
000
5-6-31
U5U is6 00
81.S7
79.92
90 000 00
000
12-7-31
729 2 U2 00
7 6 .g
57 **17
25 000 00
000
St
7-5-.3U
is6 061 00
9 2 .5
gU.U
25 000 00
000
2/
iru?L_33
S27 9 6 H 00
9 1 .6 7
9 1 .0 6
10 0 000 00
000
3-30-31
270 062 00
7 7 .6
6 7 .1 2
10 0 000 00
000
St
I N S O I jV J t N O ?
N A T IO ÌJ A J L
3 A N ETS
L X ^ J IO iT J ü O
AND
©fil RÆ STOllÆ D T O SO lV -SN O Y D U R IN G T H S
JANUARY, 193S - Cont»d.
.r•
Name and location of Ban1
Creighton Natl Bank
Creighton, Nebr
Olney Natl Bank
Hartford, &ich
Fir^t Natl Bank
Maryville,
Citizens Natl Bank
Winchester, Ky
Planters Natl Bank
Fredericksburg, Fa
Holston Natl Bank
Sliaabethton, Tenn
Farmers Natl Bank
Haviland, Ohio
F IM A L L T
MONTH
Per Cent
3rer Cent
Total
Total DisDividend
Disbursements
bursements
Declared
to All
Date of
to Total
Including
Failure. Offsets Allowed. Liabilities. Claimants.
7S.25
25 000 00
000
S7.13
10 0 000 00
000
102.81
10 0 000 00
1 1 5 7 5 00
10 0 000 00
1*42 0 7 1 00
2 .9 8 1
50 000 00
000
108.9S59
25 000 00
^5.
if 9-2 6 -3 3
H05 7 5 2 00
8*4.26
8-10-31
U99 571* 00
9 0 .1
7 -2 5 -3 5
99 127 00
10 0 .0 2
5-3-31*
228 108 00
1/ 6-1 U -3 2
S3 577 00
2 7 .9 2
1 f g-9-3l
1*4 395 00
100.01
l-o
If
u
10 0 .
Cash, Assets,
Uncollected Stock
Assessments, etc.
Returned to Shar
holders* Aeent.
000
7 3 .6 3
$
Capital
Stock at
Date of
Failure.
$ 25 000 00
116 032 00
1-9-32
C 1 .0 S Ü D
QP
3 I.5 2 2 0 9
3*4
if
-
Receiver eonointed to levy and collect stock assessment- covering deficiency in value of
assets sold, or to complete unfinished liquidation.
2/
-
formerly in conservatorship.
00
IMPORTS Off DISTILLED LIQUORS AND WINES AND DUTIES COLLECTED THEREON - DECEMBER, 1937
Calendar Year
November
December
December
1937
1936
1937
1936
1937
DISTILLED LIQUORS (Proof Gallons):
Stock in Cmstoms Bonded Ware
4,222,560
3,426,042
3,424,539
4,784,651
4,944,313
houses at beginning
17,508,854
2,498,199
14,392,140
1,967,928
Total Imports (Free and Dutiable)
1,901,121
20,934,896
18,614,700
5,922,738
6,752,579
6,845,434
Available for Consumption
15,093,537
16,209,458
2,495,356
1,806,291
2,214,123
Entered into Consumption (a)
j.nitmnwn nnrn
.95,121
*— *■ 103^443— —
x;9??r KnrnivwinuuwijRuewtKwniMa
Exported from Gus lum5'"Cua lod,y—
Stock in Customs Bonded Ware
3,426,042
4,621,995
4,944,313
3,426,042
4,621,995
houses at end
STILL WINES (Liquid Gallons):
Stock in Customs Bonded Ware
1,607,096
1,085,347
1,360,417
1,503,366
1,603,741
houses at beginning
2,621,993
3,708,730
449,031
479,037
443,267
Total Imports (Free and Dutiable)
4,229,089
4,794,077
1,809,448
1,982,403
2,047,008
Available for Consumption
3,120,467
3,233,646
722,569
378,045
493,973
Entered into Consumption (a)
J&peirfceil“£ro®..jC!ui*t€^
Stock in Customs Bonded Ware
houses at end
SPARKLING WINES (Liquid Gallons)
Stock in Customs Bonded Ware
houses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
1,552,153
1,603,741
357,521
133,146
490,667
166,093
310,455
125,188
435,643
78,122
1,085,347
165,322
127,876
293,198
155,683
1,085,347
137,455
765,748
903,203
578,015
232,724
412,348
645,072
500,121
«48**
roM*'*n"Yi,,lt44ii
Stock in Customs Bonded Ware
houses at end
_______
DUTIES COLLECTED ON:
Distilled Liquors
Still Wines
Sparkling Wines
Total Duties Collected on Liquor
1,552,153
324.430
357.521
137.455
5,498,625
439,931
499.182
6,437,738
$ 4,468,105
336,640
235.256
$ 5,039,981
6,213,853
654,612
469.212
7,337,677
2 3 .6 9 1 .2 8 3
$ 3 0 ,1 2 9 ,0 2 1
2 6 .4 7 3 .3 7 7
$ 3 1 ,5 1 3 ,3 5 8
16 .<
31.360^176
-------$ 3 8 ,6 9 7 ,8 5 3
324.430_______ 137.455
# 39,737,089
2,871,011
1.724.730
$ 44,332,830
# 37,729,507
3,110,183
1,705.640
$ 42,543,330
Tahiti fts
^ flanurf•
i'WYn r / -
TOTAL DXJTIE^^COLLECTED
Percent ''Collected ^oa Liquors
21.3%
la) Including withdrawals for sliip supplies and diplomatic use.
(Prepared
\>y D i v i s i o n
of- Statis t i c s
&
Research,
~~
Bureau
3 7 1 ,4 9 0 ,5 75
4 3 8 .4 0 2 .0 6 4
# 4 8 2 ,7 3 4 ,8 9 4 Ì 4 1 4 ,0 3 3 ,9 0 5
9.1%___________ 10.3%»or
Customs )
Sta.
OFFICE OF THE COMMISSIONER OF CUSTOMS
TO MR. GASTON
FROM THE COMMISSIONER OF CUSTOMS:
There is transmitted herewith a statement showing imports
of distilled liquors and wines, and duties collected thereon,
covering the month of December, 1937, with comparative figures
for the months of December, 1936, and November, 1937, and the
twelve months of the calendar years 1936 and 1937, which may
be suitable for press release.
TREASURY DEPARTMENÏ
Washing tori"
press Service
No. 12-46
foe RELEASE,
AFTERNOON NEWSPAPERS:
Tuesday, February 8 , 1938._______
mW
Commissioner of Customs James H. Moyle today issued the following statement
showing imports of distilled liquors and wines,- and duties collected thereon,
covering the month of December, 1937, with comparative figures for the months of
December, 1936, and November, 1937*„and...the twely.e..months of the calendar years
1936 end 1937:
HI.
Calendar Year
December
November
December
1937
1936
1936
1937
1937
DISTILLED LIQUORS
(Proof Gallons)
Stock in Customs,
Bonded Warehouses
4,222,560
3,426,042
3,424,539
4,784,651
at beginning ... 4 944,313
Total Imports (Free
14,392,140
17,508,854
2,498,199
1,967,928
and dutiable)... 1 901,121
Available for Con
18,614,700
20,934,896
5,922,738
6,752,579
sumption .... .. 6 845,434
Entered into Con
15,093,537
16,209,458
2,495,356
1,806,291
sumption (a) ••• £ 214,123
Stock in Customs
Bonded Warehouses
3,426,042
4,621,995
3,426,042
4,944,313
at end .......
4 621,995
STILL WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
1,607,096
1,085,347
1,360,417
1,503,366
at beginning ... ] 603,741
Total Imports (Free
2,621,993
3,708,730
449,031
479,037
and Dutiable) ..
443,267
Available for Con
4,229,089
4,794,077
1,809,448
sumption ....... < ,047,008
1,982,403
Entered into Con
3,120,467
3,233,646
722,569
378,045
sumption (a) ....
493,973
Stock in Customs
Bonded Warehouses
1,085,347
1,552,153
at end ........
] ,552,153
1,085,347
1,603,741
sparkling WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
232,724
137,455
at beginning ...
165,322
310,455
357,521
Total Imports (Free
412,348
765,748
127,876
and Dutiable) ..
125,188
133,146
Available for Con
903,203
645,072
293,198
sumption .......
435,643
490,667
Entered into, Con
578,015
500,121
155,683
sumption (a) . . .
166,093
78,122
Sioc| in„Customs
Bonded Warehouses
_ at end ..,
137,455
324,430
137,455
357,521
324,430
•‘-'iquors $ ,498,625
^ill Wines .....
439,931
darkling Wines ..
499,182
T°tal Duties collectl i q u o r .... $6,437,738
$ 4,468,105
336,640
235,236
$ 6,213,853
654,612
469,212
$ 39,737,089
2,871,011
1,724,730
$ 37,729,507
3,110,183
1,703,640
$ 5,039,981 $ 7,337,677 $ 44,332,830
In cluding w ith d ra w a ls f o r s h ip s u p p lie s and d ip lo m a tic u s e .
42,543,330
flj
fsmmrn m p m m m
for
mana*,
m m jm
s«mo«
Tuesday» February g» 198g»
t/¥/S8 ’
niin ilrr.11 i
Secretary Morgenthau announced last evening that the tender« for
#50,000,000» or thereaboute, of 91-day Treasury H i l e » te be dated February 9
and to sature Hay 11, 1958, which were offered on February 4, were opened at
the Federal Reserve basks os February 7.
the details of this issue are as fellows;
Total applied for
Total accepted
* «150,554,050
*
50,144,000
Rasga o f accepted bids;
High
low
Average prise
* 99.988
* 99.970
- 99.980
Iquiv&lent rate approximately 0.071 perenti
*
*
*
0.087
*
*
*
•
0.080
*
(84 percent of ihe amount bid for at the low price was accepted)
TREASURY DEPARTMENT
Washington
JOR EBLEASE, MORNING NEWSPAPERS,
Tuesday, February 8, 1938.
2/7/38
Press Service
No. 12-47
Secretary Morgcnthau announced last evening that the tenders for
$50,000,000, or thereabouts, of 91-day Treasury bills, to be dated February 9
and to mature May 11, 1938, which were offered on February 4, wore opened at
the Federal Reserve banks on February 7.
The details of this issue are as'follows:
Total applied for
Total accepted
Range of accepted bids:
High
Low
Average price
- $150,294,000
50,144,000
- 99,982 Equivalent rate approximately 0.071 percent
- 99.978
11
«
»
0.087
»
- 99.980
11
,T
0.080
»
(84 percent of the amount bid for at the low price was accepted)
— oOo—
TREASURY
DEPARTMENT
W ASH IN G TO N
O FFICE O F
COMMISSIONER OF INTERNAL REVENUE
February 8 , 1938
A D D R E S S R E PL Y TO
C O M M IS S IO N E R O F IN T E R N A L R E V E N U E
AND R E F E R TO
Memorandum to Mr. Gaston:
On March 31, 1937, you issued a release No, 9-93 re
lating to the wrongful activity of certain persons in
inducing producers of hogs to file claims for refund under
the processing tax«
I have just been advised that the practice has
revived through the use of the radio^, For this
I suggest that a press
attached draft should be
C om issioner o f Internal Revenue Guy T. Helvering stated today that he had
been informed that (Various radio sta tio n s in the Horth Central area of the United
S ta tes had leasM tlu e to certain persons to engage in the wrongful activity of
seeking to Induce producers of hogs and consumers o f d iffe re n t a r tic le s to file
claims for refund o f the processing tax imposed daring the e ffe c tiv e period of the
A gricultural Adjustment Act.
According to Cosasi ssioner Helvering’s information, farmers are being erroneous
ly to ld that they could make claims fo r amounts which buyers o f liv e hogs deducted
from the farmers s e llin g price as "processing tax*.
Likewise many consumers who
bought a r tic le s processed from commodities which were subject to the processing tax
were misled into thinking they could make sim ilar claim s.
Commissioner Helve ring emphasized statements previously issued by the Bureau
that a refund o f taxes imposed under the A gricultural Adjustment Act may be allowed
only to a person who a ctu a lly paid such taxes to the Government, through Collector!
o f Internal Revenue.
Ho authority e x is ts under the law by which a refund may he
made to faimers o f amounts equivalent to the tax which may have been deducted by
hog buyers from the sa le s p rices o f hogs.
E xisting law does not provide for payments to be made to consumers in amounts
equal to the processing tax upon a r tic le s purchased, even though persons who sold
the a r tic le s attributed part o f the s e llin g price to a tax imposed under the
A gricultural Adjustment Act, or b ille d an amount as "processing tax*.
2- 4 #
Commissioner of Internal Revenue Guy T. Helvering stated today that M
fet
that '.various Jmdio stations in the North Central area of the United I
States had leas^dtime to certain persons to engage in the wrongful a c t iv it y of
seeking to induce producers of hogs and consumers of different articles to file
claims for refund of the processing tax imposed during the effective period of the
Agricultural Adjustment Act.
According to Commissioner Helvering’s information, farmers are being erroneous
ly told that they could make claims for amounts which buyers of live hogs deducted!
from the farmers^ selling price as "processing tax".
Likewise many consumers who
bought articles processed from commodities which were subject to the processing tad
were misled into thinking they could make similar claims.
Commissioner Helvering emphasized statements previously issued by the Bureau
that a refund of taxes imposed under the Agricultural Adjustment Act may be allowed
only to a person who actually paid such taxes to the Government, through Collectors!
of Internal Revenue.
No authority exists under the law by which a refund may be
made to faimers of amounts equivalent to the tax which may have been deducted by
hog buyers from the sales prices of hogs.
Existing law does not .pKQVide for payments to be made to consumers in amounts
equal to the processing tax upon articles purchased, even though persons who sold
the articles attributed part of the selling price to a tax imposed under the
Agricultural Adjustment Act, or billed an amount as "processing tax".
1
i
TREASURY DEPARTMENT
Bureau of Internal Revenue
Washington
FOR IMMEDIATE RELEASE,
Wednesday, February 9, 1938.
Press Service
No. 12-48
Commissioner of Internal Revenue Guy T. Helvering stated today that
he had been informed that various radio stations in the North Central area of
the United States had leased time to certain persons to engage in the wrongful
activity of seeking to induce producers of hogs a.nd consumers of different
articles to file claims for refund of the processing tax imposed during the
effective period of the Agricultural Adjustment Act.
According to Commissioner Helvering’s infermabion, farmers are being
erroneously told that they could make claims for amounts which buyers of live
hogs deducted from the farmers’ selling price as ’’processing tax”.
Likewise,
many consumers who bought articles processed from commodities which were subject
to the processing tax were misled into thinking they could make similar claims.
Commissioner Helvering emphasized statements previously issued by the
Bureau that a refund of taxes imposed under the Agricultural Adjustment Act may
te allowed only to a person who actually paid such taxes to the Government,
through Collectors of Internal Revenue.
No authority exists under the law by
which a refund may be made to farmers of amounts equivalent to the tax which
may have been deducted by hog buyers from the sales prices of hogs.
Existing law does not provide for payments to be mado to consumers in
amounts equal to the processing tax upon articles purchased, even though persons
who sold the articles attributed part of the selling price to a tax imposed
under tho Agricultural Adjustment Act, or billed an amount as ’’processing tax”.
— oOo—
IMPORTS OP DOUGLAS ÏTR, WESTERN HEMLOCK AND RED CEDAR gRTinar.mq
UNDER THE QUOTA PROVISIONS OP THE CANADIAN TRADE AGREEMENT
Preliminary Figures as of January 29, 1938
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
January 1 to 29. 1958
Sawed Timber & Lumber Not Specially Provided For
DOUGLAS
WESTERN
MIXED FIR
TOTAL FIR
fir'
HEMLOCK
& HEMLOCK
& HEMLOCK
(Bd.Ft»)
6,878,321
1,528,116
95,761
1,701,786
656,056
-
28,733
169,307
544,024
1,920,107
January lj
29« 1938_T
RED CEDAI
shbglesT
10,326,544
4.13^
229,505*1
124,494
1,871,093
1,200,080
7,635
95,140
18,704
20,236
170
1,206
FROM CANADA
Buffalo
Dakota
Duluth & Superior
Galveston
Indiana
Los Angeles
Maine and N.H.
Massachusetts
New York
Ohio
Philadelphia
St. Lawrence
San Francisco
Vermont
Washington
-
1,817,970
3,025
1,369,100
mm
am
am
-
mm
—
mm
-
am
*
-
1,920,107
1,817,970
3,025
1,975,883
1,920,107
-
-
mm
mm
460,415
606,783
151,283
*
13,515
760,693
mm
611,698
am
mt
m
27,986
2,344
260
mm
mm
am
13,515
788,679
* Quantity allowable under quota for the first six months of 1938 not yet
determined.
244
750
5,207
77,609
IMPORTATIONS OF CATTLE, CREAM AND CERTIFIED SEED POTATOES
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Preliminary Figures as of January 29, 1938
Customs District
TOTAL IMPORTS
Per Cent of Quota
January 1 to 29« 1958
CATTLE
: CATTLE 700# : DAIRY COWS
UNDER 175#
OR MORE
700# OR MORE
(Head)
(Head)
(Head)_____
3,276
6,31#
7,564
4.85$
756
241
49
436
33
426
2*13$
: Dec. 1,1931
Jan, 29. li
: WHITE OR iff
CREAM î SEED POTATO
(Cal«) :
(Pounds!
3,297
. $
0 22
2,959,422)
6,!
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Maine and N. H,
Massachusetts
Michigan
Minnesota
Montana
New York
St. Lawrence
Vermont
Washington
Total from Canada
—
—
mm
mm
mm
2
—
5
105
-
2,209
126
15
-
3,218
11
mm
3
«.
277
2,079
39
19
28
12
2 , 497,480
291,970
169,772
mm
mm
mm
2
mm
111
279
31
3,274
20(1
632
3,834
426
3,297
2,959,42a
1
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
51
7
-
Total from Mexico
58
1,387
2 ,0 1 1
156
176
3,730
(Prepared by Division of Statistics & Research, Bureau of Customs)
The Commissioner of Customs today announced preliminary
figures for imports of commodities under the quota provisions
of the Canadian Trade Agreement, as of January 29, 1938, and
the percentage that such imports bear to the totals allowable
under the quota provisions, as follows:
Sta«
OFFICE OF THE COMMISSIONER OF CUSTOMS
FEB 1 1 J937
TO MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Building)
FROM THE COMMISSIONER OF CUSTOMS:
There are attached two tabulations for immediate release
showing preliminary figures for imports of commodities under the
quota provisions of the Canadian Trade Agreement, as of January
29, 1938.
TShen the release has been mimeographed, please have 125
copies forwarded to me at Room 415, Washington Building.
j
TREASURY DEPARTMENT
Washington
Press Service
No. 12-49
FOR IMMEDIATE RELEASE,
Thursday, February 10, 1938.
The Commissioner of Customs today announced preliminary figures for
imports of cornmcfdities under the quota provisions of the Canadian Trade Agree
ment, as of January 29, 1938, and the percentage that such imports bear to
the totals allowable under the quota provisions, as follows:
IMPORTS OF DOUGLAS FIR, WESTERN HEMLOCK AND RED CEDAR SHINGLES
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Preliminary Figures as of January 29, 1938.
:
:Sawed Timber
1 Customs District : DOUGLAS :
:
FIR
:
: (Bd.Ft.) :
T O IMPORTS
6,878,321
Per Cent of Quota
J anuary 1 to
& Lumber Not
WESTERN
:
HEMLOCK
?
(Bd.Ft.)
;
29, 1938
Specially Provided For
MIXED FIR : TOTAL FIR
& HEMLOCK : & HEMLOCK
: (Bd. Ft.)
(Bd. Ft.)
:
:
:
:
:
January 129, 1938.
RED CEDAR
SHINGLES
(Squares)
1,528,116
1,920,107
10,326,544
4.13$
229,505*
28,733
169,307
544,024
m
606,783
151,283
~
~
27,986
-
124,494
1,871,093
1,200,080
1,817,970
3,025
1,975,883
1,920,107
m
611,698
13,515
788,679
7,635
95,140
18,704
.20,236
170
1,206
CANADA
Buffalo
Dakota
Duluth & Super
Calveston
| Indiana
Los Angeles
Maine and N.H.
Massachusetts
New York
Ohio
Philadelphia
St. Lawrence
San F rancisco
Vermont
Washington
95,761
1,701,786
656,056
1,817,970
3,025
1,369,100
m
460,415
13,515
760,693
—
1,920,107
-
2,344
260
«
244
750
5,207
77,609
Quantity allowable under quota for the first six months of 1938 not yet determined.
2
IMPORTATIONS OP CATTLE, CREAM AND CERTIFIED SEED POTATOES
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Preliminary Figures as of January 29, 1938.
Customs District
:
CATTLE
: UNDER 175#
:
(Head)
•January 1 to
: CATTLE 700#
: OR MORE
;
(Head)
29,' 1938
: DAIRY COWS
: 700# QR MORE
ï
(Hoad)
CREAM
(Sal)
•
•
♦
ih IMPORTS
3,276
7,564
756
-
241
49
436
33
4
277
2,079
39
19
28
1
632
2
m
111
279
31
3,218
3,834
426
3,297
51
7
-
1,387
2,011
156
176
-
—
—
m
58
3,730
er Cent o f
426
•J-KJ /U
3,297
KJ» ¡V
Dec.1,1937
to Jan. 29,
1938
WHITE OR
IRISH SEED
POTATOES
(Pounds)
2,959,422
U# /o
CANADA
Buffalo
Chicago
Dakota
-
-
Florida
Maino and N. H.
M assachusetts
Michigan
Minnesota,
Montana
New York
St, Lawrence
Vermont
Washington
2
-
5
105
2,209
126
15
Ala
-
3
—
—
11
—
12
-
—
m
2,497,480
291,970
169,772
—
—
_
—
—
3,274
»»
mm
mm
200
—
2,959,422
gROM MEXICO
Arizona
El Paso
San A ntonio
San Diogo
Total from M exico
»
—
-
IMPORTS OF COMMODITIES FROM THE PHILIPPINES UNDER QUOTA
PROVISIONS OF PHILIPPINE INDEPENDENCE ACT AND CORDAGE ACT OF 1935
Preliminary Figures, as of January 29, 1938
11
Customs District
TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
Florida
Galveston
Georgia
Hawaii
Los Angeles
Maryland
Massachusetts
Minnesota
New Orleans
New York
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Louis
San Francisco
Virginia
Washington
Wisconsin
January 1 to 29. 1938
: REFINED
UNREFINED
: COCONUT OIL :
SUGAR
SUGAR
(Pounds)
: (Pounds)
(Pounds)
25,128,496
5.61#
5,392,931
4.82#
40,311,787
2.25^
.
-
•>
661,488
6,523,960
«*
mm
mm
—
a.
mm
-
1,700,000
2,823
a.
—
-
13,412,384
1,699,526
«
26,851,462
a,
—
m
a.
•
mm
«*
3,813,514
63,r56$
130,066
44^466
5,329
8,112
6,157
151^457
351,298
m
—
13,171,661
2,414,552
*
2,356,835
May 1,1937
Jan.29. 1938
CORDAGE
(Pounds)
mm
45,118
mm
1,993,405
m
m
mm
145,256
11,802
899,069
193,419
23,565
421,207
14,769
44,286
1,196,096
28,351
132,947
5,862
(Prepared toy Division of Statistics and Research, Bureau of Customs)
The Commissioner of Customs today announced preliminary
figures for imports of commodities coming into the United States
from the Philippine Islands under the quota provisions of the
Philippine Independence Act, during the period January 1 to 29, 1938,
and under the Cordage Act of 1935, during the period May 1, 1937,
to January 29, 1938, also the percentage that such imports hear to
the totals allowable under the quota provisions, as follows:
<
Sta.
OFFICE OF THE COMMISSIONER OF CUSTOMS
FEB 1 1 1 9 3 7
MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Building)
FROM THE COMMISSIONER OF CUSTOMS:
There is attached a tabulation for immediate release showing
preliminary figures for imports of commodities coming into the
United States from the Philippine Islands, under the quota provis
ions of the Philippine Independence Act and the Cordage Act of 1935,
as of January 29, 1938.
When this tabulation has been mimeographed, please have 90
copies forwarded to Mr. Freeman, Room 415, Washington Building.
/
TREASURY DEPARTMENT
Washington
bn HBLSASE, MORNING NEWSPAPERS,
Iridey. February 11, 1938.
foo/38 " ' .
Press Service
No. 12-50
The Commissioner of Customs today announced preliminary figures for imports
lof commodities coming into the United States from the Philippine Islands under the
[quota provisions of the Philippine Independence Act, during the period January 1
[to 29, 1938, and under the Cordage Act of 1935, during the period May 1, 1937, to
[January 29, 1938, also the percentage that such imports bean to the totals allowable
under the quota, provisions, as follows!
:
Customs District
TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
January 1 to 29,
; REFINED
! COCONUT OIL !
SUGAR
! (Pounds)
: (Pounds)
25,128,496
.5.61#
-
Galveston
Georgia.
Hawaii
Los Angeles
Maryland
Massachusetts
5,392,931
4. 82#
—
!.938
:
UNREFINED
:
SUGAR
:
(Pounds)
40,311,787
2.25#
8,112
3,823
1,700,000
Washington
Wisconsin
6,157
151,457
351,298
651,488
6,523,960
13,171,661
Oregon
Philadelphia
Puerto Rico
Hhode Is1and
St. Louis
San Francisco
Virginia
3,813,514
63.56#
130,066
44,466
5,329
—
Minnesota
Hew Orleans
Hew York
: May 1, 1937 to
: Jan. 29, 1938
:
CORDAGE
!
(Pounds)
13,412,384
1,699,526
2, ‘¿14,5o2
26,851,462
2,356,835
45,118
1,993,405
— oOo—
145,256
11,802
899,069
193,419
23,565
421,207
14,769
44,286
1,196,096
28,351
132,947
5,862
/
A
iMtàWfrfrlWÌL I
aWM M
I iiìrrn fâtâb
f* H w u s m u i a
Q&
Secoater
Si* 1936,
tte Soomtaxjr of tte fr m m a y
«lat, after MwNrrlttf »Itti Ite Board of Oownora of tte # sS» l
Xoaom Bjrotoo, te propoaed to tote appropriato u U o a «tei roapoot
to a#* additional aoçoiaitlono or roloaaoo of «old 1qp tte äroaswy
Dopartnoat «honorer lt ma deemed adrlastia and la tte «utile Intonai
%ù é» m *
la
nfi«r
pmmrnm
#f «&*§ pelici# ih# 3»ar»tasy $f $*» $*»»»037 ,
úmtQrrtñg with
ih» Bonn« «f
today m m m m * that Ä
of ih» stimi M
i
r n w ir * * hr ih» Mimlt «md esaar
Offi«#» «fter fenaxy ì* ItSI* will ho inciti«»« in ih» Inactive «olà
decenni only io tho cationi that mofe acquititica* in asay on» (ftmntev
»am»»« H 0 £)#OÖO*TO*
Wo Chanci it being isti«# in ih» cocete»» mh»r«b7
«UT gold relea##« %■ ih# minti està aitisy office#
Inactive Col« Àeeonnt.
is tatam fron ih»
TREASURY DEPARTKEHI
Washington
Press Service
Ho. 12-51
FOR IMMEDIATE RELEASE,
Monday, February 14, 1938.
On Do conker 22, 1956* the Secretary of the Treasury stated tre t, after
conferring with the Board of Governors of the Federal Reserve System, ho pro
posed to take appropriate' action with respect to not additional acquisitions
or releases of gold by the Treasury Department whenever it was deemed advis
able and in the public interest to do so.
In pursuance of that policy, the Secretary of the Treasury, after con
ferring with the Board-of Go vomers of the Federal Reserve System, today
announces that gold acquired by the mints and assay offices after January i,
1938, will be included in the Inactive Gold Account only to the extent that
such acquisitions in any one quarter exceed $100,000,000.
Ho change is being
made in the procedure whereby any gold released by the mints and assay office
is taken from the Inactive Gold Account.
■oOO'
TREjesrar
mPAitœmr
W M M a m m
FOR HSUÏ4SS, MORHIHG KEW3PAPSRS,
T y « a « y , Fabruary 15. 19B8.
2/14/38
Prias $amo$
f-irO-
Seoretary Morgenthau announced lest erening that the traders for
#50,000,000, or thereabouts, of 91~day Treasuiy bille, t© be dated îebmry
ead coaturing May la, 1936, idiieh teere offered ou February 11, vere opened al
the Fédéral Reserve banks on February 14«
9be detail« of tfcie issue are as follcnrs:
Total applied fbr
Total aoeepted
• #146,823,000
♦ 80,065,000
Range of aceepted bide:
Klgh
Low
Arerage prie#
• 99*988 Equivalent rate approxiiastely 0*059 ptro
« 99*979
m
m
*
0.091
*
* 99*930
*
*
• '
0.078
*
(44 pereent of tbe
f v / ‘V - ,
s
*6
mmü bid for at tbe loir priée was acceptai)
TREASURY-DEPARTMENT
Washington
JOR RELEASE, MORNING NEWSPAPERS,
Tuesday, February 15, 1938.
2/14/38 ”
Press Service
No. 12-52
Secretary Morgenthau announced last evening that the tenders for
$50,000,000, or thereabouts, of 91-day Treasury bills, to be dated February
16 and maturing May 18, 1938, which were offered on February 11, were opened
at the Federal Reserve banks on February 14.
The details of this issue are as follows:
Total applied fo r
Total ac c e p t e d
- $146,823,000
50,063,000
of accepted bids:
low
Average p r i c e
- 99.985
- 99.977
- 99.980
Equivalent rate approximately 0.059 percent
»
»
»
0.091
n
«
11
H
0.078
(44 percent of the amount bid for at the low price was accepted)
— oOo—
TR EASU R Y DEPARTM ENT
OFFICE OF THE SECRETARY
C O M M I S S IO N E R
WASHINGTON
OF
A C C O U N T S A N D D E P O S IT S
February 8, 1938»
TO ME» GASTON:
During the month of January» 1938, the
following market transactions took place in Govern
ment securities:
Total sales
Total purchases ••••»
$14»033»500
2 »000»000
Net sales ....... $12,033,500
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Tuesday, February 15, 1938,
Press Service
No. 12-53
Market transactions in Government securities for Treasury investment
accounts in January, 1938, resulted in net sales of $12,033,500, Secretary
Morgenthau announced today
-
2
-
that such illustrations are o f a size less than three-quarts
or more than one and one-half, in linear dimension, of each
part of such stamp*
Sec. 4.
Repeal o r amendment o f retaliations. _These
regulations may be amended or repealed at any time, which
amendment or repeal shall become effective upon publication
thereof in the Federal Register or u p o n such date as may be
specified therein i f l ater t han the date of publication.
Sec. 5*
Effective date of regulations. —
These roguli
tions shall become effective u p o n publication thereof in the
Federal Register.
Approve'
The Vihite House.
Regulations Relating to Illustrations of
United States Postage Stamps.
TREASURY D E P A R T I T ,
OFFICE O F THE SECRETARY.]
FEB 1 4)
Section 1.
193S,
Authority for regulations---The.se regulation
are issued u nder authority o f section 2 (b) of the Act of
CoL
gross o f January 27, 1938, entitled "An Act to permit the
printing of black-and-white illustrations of United States
and foreign postage stamps for philatelic purposes".
Sec. 2.
Finding of f a c t .——The Secretary of the Treasu
with the approval o f the President, finds that no hindrance
to the suppression o f counterfeiting and no tendency to brir
into disrepute any obligation or other security of the Unite|
States will result from the issuance of these regulations»
Sec. 3*
Illustrations permitted.— The printing, pub
lishing, and importation, and the making anrf importation of
the necessary plates for such printing and publishing, for
philatelic purposes in articles, books, journals, newspaper^
and albums (including the circulars and advertising literati'
of legitimate dealers in stamps and publishers of and dealei
in philatelic and historical articles, books, journals, and
albums) of black and white illustrations of canceled and un-J
canceled United States postage stamps are permitted, providi
12-54?
For Thursday a m ’s
With the approval of the P resident, Secretary !
Morgenthau
issu ed , e f f e c t iv e upon p u b licstion “"în^ihe
A
Federal R egister, the regulations governing the
p rinting of black-and-white illu s tr a tio n s o f United
States
M M |» postage stamps for p h ila te lic purposes, authorized by
the Act of January 27, 1938.
aA
The te x t of the regulations follow s:
/s
Jt
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING-.NEWSPAPERS,
Thursday» February 1?, 1938.
2/16/38
~ .
Press Service
No. 13-54
With the approval ofT h e President, Secretary Morgenthau has issued,
effective upon publication today in the Federal Register, the regulations
governing the printing of black-and-white illustrations of United States
postage stamps for philatelic purposes, authorized by the act of January 37,
1938.
The text of the regulations is as follows:
Regulations Relating to Illustrations of
United States Postage Stamps.
TREASURY DEPARTMENT,
OFFICE OF TfeE SECRETARY.
Feb. 14, 1938.
Section 1*
Authority for regulations.-—These regulations are issued
under authority of section 3(b) of the Act of Congress of January 37, 1938,
entitled HAn Act to permit the printing of black-and-white illustrations of
United States and foreign postage stamps for philatelic purposes11.
Sec. 3.
Finding of fact.— The Secretary of the Treasury, with the
approval of the President, finds that no hindrance to the suppression of
counterfeiting and no tendency to bring into disrepute any obligation or other
security of the United States will result from the issuance of these, regulations
Sec. 3*
Illustrations permitted.<— The printing., publishing, and importa
tion, and the making and importation of the necessary plates for such printing
nnd publishing, for philatelic purposes in articles, books, journals, newspapers
â&d albums (including the circulars and advertising literature of legitimate
dealers in stamps and publishers of and dealers in philatelic and historical
_ ¿
oJ _
articles» books, journals, and albums) of black-and-white illustrations of
canceled and uncanceled United States postage stamps are permitted, provided
that such illustrations are of a size less than three-quarters or,more than
one and one-half, in linear dimension, of each-part of such stamp.
Sec. 4.
Repeal or amendment of regulations.— These regulations may be
amended or repealed at any time, which amendment or repeal shall become effective
upon publication thereof in the Federal Register or upon such date as may be
specified therein if later than the date of publication.
Sec. 5.
Effective de/be of regulations.— These regulations shall become
effective upon publication thereof in the Federal Register.
(Signed) H. MORGEUTHAU, JR.
Secretary of the Treasury.
Approved: F e b .
14 ,
1938 .
(Signed) FRAMKLIN D. ROOSEVELT
The White House.
— oOo—
February 16, 1938
Mr. Harold N. Graves,
Assistant to the Secretary,
Office.
My dear Mr. Graves:
While you are in Los Angeles, I -would like you, as my
representative, to inform our people fully of the purposes
and objectives of the system which we are establishing there
effective on March 1» We want every taxpayer who, after a
full presentation of his contentions to the revenue agents,
may be dissatisfied with their findings, to be given an im
partial hearing by the n e w group. We want all cases to be
closed as expeditiously as may be consistent with fairness
to taxpayers and to the Government. Above everything else
you should have it understood that our intention i s to pro
vide one, single, unified agency to exercise on the ground,
for the Commissioner, all the authority which the Department,
or any of its branches, may have under the law, in the re
view of protested income-tax determinations made by the rev
enue agents, in the settlement of contested oases, and in
the defense of such cases, when necessary, before the Board
of Tax Appeals. Please point out clearly the necessity for
complete and friendly cooperation among the Treasury branches
concerned, to the end that these objects may be surely accom
plished.
Sincerely,
(Signed) H. Morgenthau, Jr.
Secretary of the Treasury.
-4—
,fIW e
at L o s A n g g l e s ,
intend
to
along these
d e c e n t r a l i z a t i o n as a p p l i e d
If o u r p l a n p r o v e s
to be
w e will g6SC5iiip6h«extend
Pacific
Coast
r e s t of
the
area,
make
a
lines,
to
thorough,practical
of
the
principle
sound
in actual day
it a s
s o o n as w e
and gradually,
as
tine
to d a y operationsJ
can
m
to
goes
the whole
on,
to the
country. n
A u b r e y R. M a r r s ,
set u p
of
income-tax administration.
C o m m i s s i o n e r Helve r i n g a l r e a d y h a s
to
test
H e a d o f the
the n e w D i v i s i o n *
w e e k b y H a r o l d N,
Graves,
Technical
He w i l l be
A s s i s t a n t to
Staff,
to
sent
Los
-Angeles
j o i n e d t h e r e next
the
Secretary,
who
has
\ k y AA
orders
to h a v e
the
new
agency
i n o p e r a n f o E ^ i T S r to
deadli!^^?b!*^fiiing 1937 returns*
Revenue
personnel
n e w agency,
letter
at Los
To acquaint
the
Igternal
A n g e l e s w i t h t he r e a s o n s
for
the
S e c r e t a r y M o r g e n t h a u h a s w r i t t e n the f o l l o w i n g
t o Mr.
Graves:
-3 -
" There
or a n y o t h e r
is
not
officer
of
?>rill b e n o a p p e a l
t he T r e a s u r y
s a t i s f i e d w i t h the
Staff,
his
final
to a n y other agency
Department*
If the taxpaj
d e t e r m i n a t i o n of his
only recourse will he
an appeal
to
the
case by tl
B o a r d of Tax]
Appeals •
T,W e
repetitious
steps
of
his
to the
p r e s e n t p l a n of
tax disputes
will permit prompt
near
arrangement
i n the
action on all
taxpayer
and
to
the
it
centralized
impossit^
seems
consideration ar
B u r e a u at W a s h i n g t o n .
contested
sources
of
ca s e s ,
at
evidence
It
a pftint
regarding I
transactions.
MIt w i l l p r o v i d e ,
e v e n for
an able and impartial administrative
ready
the
eliminate inan^j
will
a nd p r o t r a c t e d d e l a y s w h i c h
to a v o i d u n d e r t he
settlement
t h i n k this
recourse
s h o u l d he be
we think
convenience
decisions,
to
and
of Tax Appeals
benefit
to
it w i l l
taxpayers,
result
m m
in fairer
can have
findings of |
instance.
treatment
and great!
in quicker administrative
C Gu r t s .
taxpayers who are
expert counsel.
b o d y to w h i c h he
r e t u r n i n the f i r s t
in fewer appeals A
a nd the
s m a l l taxpayer,
d i s s a t i s f i e d w i t h the
agency which examined his
I n short,
the
f r o m the
B u r e a u to
T h e p l a n w i l l be
financially unable
of
to
the Board
special
employ
-
2-
T h e D i v i s i o n of
established
a n d other
as
at L 0s A n g e l e s w i l l
in the O f f i c e
Washington*
the
of
assist
i n the
the
C^ief
returns
contested
Counsel
of
i n the
of
cases for
of
skill
the
experience]
whj
at
f r o m the
w h o w i l l not only
c a s e s hut
Los
enginei
country a s ^
attorneys
of t h e B u r e a u ,
trial at
and
Internal Revenue
include
contested
S t a f f being
accountants,
the s a m e
Commissioner
review
Commissioner
which may
of
Its p e r s o n n e l w i l l
office
the
of
Technical
consist
t a x spe c ialis ts ^ 3
the m j m w h o h a n d l e
the
w i l l represent
Angeles
of a n y cases
f i n a l l y be a p p e a l e d to t h e B o a r d of T a x Appeals,
\ p l a n , ” S e c r e t a ry M o r g e n t h a u said today,
tinder the n e w T ^ g g ^ ^ t h e e x a m i n a t i o n o f tax
i n the
L os
Angeles
area will be made b y
the
Internal
r\
Revenue
be
agents
as a t t h e p r e s e n t
tine.
reviewed and d i s c u s s e d w i t h taxpayers
Revenue
Agent
in Charge,
%ut
protested, b y
the
if
w i l l be
Staff*
r e f e r r e d to
case
Division will have
case w i l l n o
conference
Revenue
be
in
so f a r as
Agent
longer
i n the
be
Bureau, but
the
the
sent
Technical
taxpayer,
and
mate
a
T h e T e c h n i c a l Staff
revise
in Charge,
concerned*
finally
contentions,
tax liability.
the B u r e a u of
are
office
are
D i v i s i o n of
of h i s
f u l l a u t h o r i t y to
the
of the
g r a n t a h e a r i n g to
light
of h i s
of
Treasury Department
the
the L o s A n g e l e s
findings
i n the
a g e n t s f findings
r e v i e w a nd
i n the
final d e t e r m i n a t i o n
final
the
The Division will
con s i d e r his
will
i n a c c o r d a n c e w i t h p r e s e n t procedure*
taxpayer,
i n to W a s h i n g t o n for
T h e i r reports
and
Internal
or
r e v e r s e the
I t s d e c i s i o n s will
Revenue
and the
F O R I M M EDIATE RELEASE,
T h u r s d a y , F e b r u a r y 17,
1938
S e c r e t a r y M o r g e n t h a u t o d a y a n n o u n c e d the
establishment
of
Internal Revenue
tax cases
At
as
a s p e c i a l b r a n c h of the
Angeles,
in s outhern
the
Revenue
a d i v i s i o n of
of
at L o s
originating
of Internal
1
b y March
s u g g e s t i o n of
Technical
perform
its d u t i e s u n d e r
through
the H e a d
of the
the
the
Secretary,
is s e t t i n g u p
S t a f f of his
Commissioner^
Technical
to r e v i e w income-
C a l i f o r n i a a n d Arizona*
G u y T. H e l v e r i n g
the
Calif.,
Bureau
office
Commission»
the agency
and It will!
d i r e c t supervision,
S^aff*
” A f te r M a r c h 1 , ,f! S e c re ta r y M o r ge n t h a u e^p lairj
frt a x p a y e r s
secure
in southern
the
liability
final
administrative
in their
of the T e c h n i c a l
of
a review
a n d A r i z o n a w i l l be
Staff—
without
the
to W a s h i n g t o n ,
Los
their
cases b y
A n g e l e s Division
inconvenience
as
t he ¿ r e s e n t
the a d v a n t a g e s w h i c h t h e y h a v e d e r i v e d
of
able to
d e t e r m i n a t i o n of t heir tax
o w n l o c a l i t y - — f r o m the
of bringing disputes
none
California
t h e B u r e a u * tr
and expense!
s ystem
i n the past fronj
TREASURY DEPARTMENT
Washington
m IMMEDIATE; RELEASE,
Thursday, February 17, 1938.
Press Service
No. 12-55
Secretary Morgenthau today announced the establishment by March 1 of
a special branch of the Bureau of Internal Revenue at Los Angeles, California,
to review income-tax cases originating in southern California and Arizona.
At the suggestion of the Secretary, Commissioner of Internal Revenue
Guy T. Kelvering is setting up the agency as a division of the Technical Staff
of his office and it will perform its duties under the Commissioner!s direct
supervision, through the Head of the Technical Staff.
”After March l,11 Secretary Morgenthau explained, ,ftaxpayers in southern
California and Arizona will be able to secure the final administrative deter
mination of their tax liability in their own locality— from the Los Angeles
Bivision of the Technical Staff—without the inconvenience and expense of bring
ing disputes to Washington, as the present system requires.
And yet they will
sacrifice none of the advantages which they have derived in the past from a
review of their cases by the Bureau.”
The Division of the Technical Staff being established at Los Angeles
will consist of accountants, engineers and other tax specialists of the same
skill and experience as the men who handle contested cases for tho country as
a whole in the Office of the Commissioner of Internal Revenue at Washington,
ts personnel will include attorneys from the office of the Chief Counsel of
the Bureau, who will not only assist in the reviiw of contested cases but will
present the Commissioner in the trial at Los Angeles of any cases which may
i&ally be appealed to the Board of Tax Appeals.
»Under the new plan,» Secretary Morgenth.au said today, »the examination
of tax returns in the Los Angeles area will he made hy the Internal Revenue agents
as at the present time.
Their reports will he reviewed and discussed with tax
payers in the office of the Revenue Agent in Charge, in accordance with present
procedure.
»But if the agents* findings are finally protested hy the taxpayer, the
case will no longer he sent in to Washington for review and conference in the
Bureau, hut will he referred to the Los Angeles Division of the Technical Staff.
The Division will grant a hearing to the taxpayer, consider his case in the
light of his contentions, and make a final determination of his tax liability.
The Technical Staff Division will have full authority to revise or reverse the
findings of the Revenue Agent in Charge, and its decisions will he final in so
far as the Bureau of Internal Revenue and the Treasury Department are concerned.
»There will he no appeal to any other agency or any other officer of the
Treasury Department.
If the taxpayer is not satisfied with the final determination:
of his case hy the Staff, his only recourse will he an appeal to the Board of Tax
Appeals*
)
»We think this arrangement will eliminate many repetitious steps and pro
tracted delays which it seems impossible to avoid under the present plan of
centralized consideration and settlement of tax disputes in the Bureau at
Washington.
It will permit prompt action on all contested cases, at a point .
rear to the taxpayer and to the sources of evidence regarding his transactions.
»It will provide, even for the small taxpayer, an able and impartial
administrative body to which he can havo ready recourse should ho he dissatisfied
with the findings of the agency which examined his return in the first instance.
In short, we think it will result in fairer treatment and greater convenience
to taxpayers, in quicker administrative decisions, and in fewer appeals from
the Bureau to the Board of Tax Appeals and the Courts,
The plan will "be of
special benefit to taxpayers who are financially unable to employ expert counsel.
"We intend to make a thorough, practical test at Los Angeles, along
these lines, of the principle of decentralization as applied to income-tax
administration.
If our plan proves to be sound in actual day to day operations,
we will extend it as soon as we can to the whole Panific Coast area, and gradu
ally, as time goes on, to the rest of the country,"
Commissioner Helvering already has sent Aubrey R, Marrs, Head of the
Technical Staff, to Los Angeles to set up the new Division.
He will be joined
there next week by Harold N. Graves, Assistant to the Secretary, who has orders
to have the new agency in operation by March 1, prior to the deadline for
filing 1937 returns.
To acquaint Internal Revenue personnel at Los Angeles
with the reasons for the new agency, Secretary Morgenthau has written the
following letter to Mr. Graves:
"My dear Mr. Graves:
While you are in Los Angeles, I would like you, as my
representative, to inform our people fully of the purposes
and objectives of the system which we are establishing there
effective March 1. We want every taxpayer who, after a full
presentation of his contentions to the revenue agents, may be
dissatisfied with their findings, to be given an impartial
hearing by the new group. We want all cases to be closed as
expeditiously as may be consistent with fairness to taxpayers
and to the Government,
Above everything else you should have
it understood that our intention is to provide one, single,
unified agency to exercise on the ground, for the Commissioner,
all the authority which the Department, or any of its branches,
may have under the law, in the review of protested income-tax
determinations made by the revenue agents, in the settlement of
contested canes, and in the defense of such cases, when necessary,
before the Board of Tax Appeals, Please point out clearly the
necessity for complete and friendly cooperation among the Treasury
branches concerned, to the end that these objects may be surely
accomplished.
Sincerely,
(Signed) H. MORGENTHAU, JR.,
Secretary of the Treasury,"
oOo—
-
2
The "book m i n e of capital stock was
of
$1 , 5 2 2 , 7 1 3 , 0 0 0 .
$2 6 7 , 3 6 1 , 0 0 0 ,
Class
-
$1 , 5 7 7 »8 3 1 , 0 0 0 ,
The latter figure consisted of Class
B preferred
stock of
$1 7 ,^7 0 ,0 0 0
representing a par vaiU9
A preferred stock of
and Common stock of
$1 , 297 , 282 , 000 .
Surplus of $1,100,308,000, undivided profits of $399,969,000, reserves for
contingencies of $ 1 5 ^, 2 3 5 » 0 0 0 and preferred stock retirement fund of $1 1 ,855 ,000 ^
a total of $1,666,367,000,
increased $ 3 6 ,333>000 since June and $9^,172,000
since December the year previous.
Bills payable of $8,508,000 and rediscounts of $1,328,000, a total of $9,836
000, showed increases of $ 1 ,3 0 6 ,0 0 0 and $7,186,000 in the six and twelve months,
respectively.
The percentage of loans and discounts to total deposits on December 31,
1937
was 33.19 in comparison with 32-91 on June 30, 1937, and 2 9 .9 U on December 3 1 ,
19 3 6 .
TREASURY DEPARTMENT
Washington
Prese Servici
Io# )l'il
ß&ixggjZ.
rsQ
POR RELEASE,
Ì
h L ^ lL /1
Comptroller of the Currency J. p. T. O ’Connor announced today that the totafl
assets of the 5*266 active national hanks in the continental United States, Alagll
Hawaii and the Virgin Islands of the United States on December 31, 1937, the date!
of the last call made for statement s of condition, aggregated $30, 1 2 U, 1 9 5 ,OOO,
yjtM
was a decrease of $212,876*000, or . 7 percent, in the amount reported by the 5,2QT
active banks on June 3 0 , 1937» the date of the previous call, and a decrease of
$9>+6,2U6,000, or 3 * 0 5 percent, in the amount reported by the 5 , 3 3 1 active banks
of December 31* 193 6 , the date of the corresponding call a year ago*
Total loans and discounts of $ 8 ,809,*&g,000 showed an increase of
since the previous call and an increase of $5^2,120,000 since
$1,666,000
December, 1936.
Total investments amounted to $11,763,00^,000, consisting of United States
Government direct obligations of $ 6 ,7 6 3 ,8 9 5 ,0 0 0 , obligations fully guaranteed
by the United States of $1,308,987*000, obligations of States, counties and muni-j
cipalities of $ 1 ,3 9 0 ,6 5 6 ,0 0 0 and other bonds, stocks and securities of $3 ,690,122, 0 0 0 .
Balances with other banks and cash items in process of collection of $S,128,-j
003*000, which include reserve with Pederal Reserve banks of $U, 172,915,000, in
creased $19^»732»000 since June but decreased $33^>575>000 in the year.
Cash in vault of $^22,^90,000 decreased $22,108,000 and $96,013,000 in the
six and twelve month periods, respectively.
The total deposits on December 31, 1937* were $26,5^0,69^,000, a decrease of
$225,219,000 since June 30, 1937* aud a decrease of $1,067,703,000 since December]
31, 1936.
The aggregate of deposits on December 31» 1937, consisted of demand
and time deposits of individuals, partnerships and corporations of $ 1 2 ,1 6 9 ,10 7 ,^
and $7,501*101*000, respectively; United States Government deposits of $50^,27^»'
000; State, county and municipal deposits of $2,019,528,000; postal savings de,and
. ,
posits of $ 8 3 ,8 8 8 ,0 0 0 ; deposits of other banks of $3 ,8 3 2 ,8 9 8 ,0 0 0 ;/certified and
cashiers’ checks, cash letters of credit and travelers' checks outstanding
$U29*89^,000.
of
Deposits evidenced by savings pass books amounting to $6,6^6,09^»"
0 0 0 represented 1 6 ,0 6 7 ,5 ^
accounts.
TREASURY DEPARTMENT
Washington
RELEASE, MORNING- NEWSPAPERS,
Monday» February 31, 1938._____
5715/35'-
Press Service
No. 12-56
job
'
. . . .
Comptroller of the Currency J. F. T. O ’Connor announced today that
the total assets of the 5,266 active national hanks in the continental United
States, Alaska, Hawaii and the Virgin Islands of the United States as of
December 31, 1937, the date of the last call made for statements of condition,
aggregated $30,124,195,000, which was a decrease of $212,876,000, or .7 per
cent, in the amount reported by the 5,299 active banks on June 30, 1937, the
date of the previous call, and a decrease of $946,246,000, or 3.05 percent,
in the amount reported by the 5,331 active banks as of December 31, 1936, the
date of the corresponding call a year ago.
Total loans and discounts of $8,809,448,000 showed an increase of
$1,666,000 since the previous call and an increase of $542,120,000 since
December, 1936.
Total investments amounted to $11,763,004,000, consisting of United
States Government direct obligations of $6,763,895,000, obligations fully
guaranteed by the United States of $1,308,987,000, obligations of Stages,
counties and municipalities of $1,390,656,000 and other bonds, stocks and
securities of $2,299,466,000.
Balanceswith other banks and cash items in process of collection
of $8,128,003,000, which include reserve with Federal Reserve banks of
$4,172,915,000, increased $194,732,000 since June but decreased $334,575,000
in the year.
Cash in vault of $422,490,000 decreased $22,108,000 and $96,013,000
ln the six and twelve month periods, respectively.
The total deposits on December 3 1 , 1937, were $ 2 6 ,5 4 0 ,6 9 4 ,0 0 0 » a decrease
of $225,219,000 since June 30, 1937, and a decrease of $ 1 ,0 6 7 ,7 0 3 ,0 0 0 since
December 31, 1936.
The aggregate of deposits on December 31, 1937, consisted
of demand and time deposits of individuals, partnership-s and corporations of
$12,169,107,000 and'$ 7 ,5 0 1 ,1 0 1 ,0 0 0 ; respectively? United States Government de~.
posits of $ 5 0 4,278,000? State, county and municipal deposits of $ 2 ,0 1 9 ,5 2 8 ,0 0 0 ?
postal savings deposits of $ 8 3 ,8 8 8 ,0 0 0 ? deposits of other hanks of $ 3 ,8 3 2 ,8 9 8 ,0 0 0 ;
and certified and Cashiers*.checks, cash letters of credit and travelers* checks
outstanding of $ 4 2 9 ,8 9 4 ,0 0 0 .
Deposits evidenced by savings pass books amounting
to $6,646,098,000 represented 1 6 ,0 6 7 ,5 4 4 accounts.
The book value of capital stock was $1,577,831,000, representing a par value
of $1,582,713,000.
The latter figure consisted of Cla.ss A preferred stock of
$267,361,000» Class B preferred stock of $17,470,000 and Common stock of
$1,297,882,000.
Surplus of $1*100,308,000, undivided profits of $399,969,000, reserves for
contingencies of $154,235,000 and preferred stock retirement fund of $11,855,000,
a total of $1,666,367,000, increased $36,333,000 since June and $94,172,000 since
December the year previous.
Bills payable of $8,508,000 and rediscounts of $1,328,000, a total of
$9,836,000, showed increases of $1,306,000 and $7,186,000 in the six and twelve
months, respectively.
The percentage of loans and discounts to total deposits on December 31, 1937,
was 33.19 in comparison with 32.91 on June 30, 1937, and 29.94 on December 31, 1936.
— oOo—
-3-
2/
V
Individual income tax returns for 1936 and 1935 by net income
showing number of returns, net income and total tax
classes
(Net income classes and money figures in thousands of dollars)
Net income
Number of returns
Net income
classes
1936
1935
1936
Total•Mtai
I
1 ®J
1935
1936
1931
Under 5 (est®)
2,557,836
2,399,833
4,853,464
4,662,671
Under 5 (est.)
2,237,737
1,592,794
5,502,749
4,051,391
613
5,857
3,272
31,839
5-10
417,111
316,922
2,838,959
2,150,752
76,761
10 - 25
175,164
121,895
2,606,789
1,797,245
174,159
102,25«
25 - 50
40,782
25,623
1,388,322
868,469
189,666
105,72«
50 - 100
13,505
7,878
905,845
525,343
214,170
110,55«
100 - 150
2,588
1,384
309,069
165,079
115,316
53,6«
150 - 300
1,535
886
306,293
4/
^L77,732
146,622
300 - 500
330
204
124,523
77,116
71,440
36,85«
500 - 1,000
177
109
122,212
73,811
78,603
38,3«
61
41
107,641
73,630
77,138
41,4«
5,447,439
4,473,426 19,069,138
14,655,079
1,210,157
Nontaxable returns
2,558,449
2,405,690
4,856,735
4,694,510
-
Taxable returns
2,888,990
2,067,736 14,212,405
9,960,569
1,210,157
5 - 10
^
1,000 and over
Total
66,282
44,7«
-I
>
47Æ
2
2/
2/
Ml
~1
664*
Returns filed in period January through August, 1937®
Returns filed in period January through August, 1936.
3/ Nontaxable returns with net income of less than $6,000® Specific exemption
from normal tax and surtax exceed net income. A negligible number of non
taxable returns in net income classes of $6,000 and over is not tabulated
separately.
4/ Revised®
-2-
The returns for 1936 are filed under the provisions of the Revenue
on dividends received from domestic corporations but also the increased
surtax rates on net incomes of more than #50,000«
The statistics are taken from returns as filed and prior to any
revision or adjustment that may subsequently be made as a result of
audit by the Bureau of Internal Revenue*
Included are amended re«
turns showing net income of #100,000 and over, but no tentative returns
or amended returns with net income under #100,000«
The data from
income tax returns filed by individuals having net income of #5,000 and
over are tabulated from each such return*
The data for individuals repo?
ing net income of less than #5,000 are estimates based on samples of sue!
returns«.
Ihe following table presents, for individual income tax returns for]
1956 and 1955, by net income classes, the number of returns, net income
and total tax liability«
TOEASüKY
KEPARÎMEIW
Washington
Press Service
1
Secretary of the Treasury Morgenthau today made public preliminary
statistics of individual income tax returns for 19S6 filed in the period
January through August, 1957, prepared under the direction of Commissioner
of Internal Revenue Guy T. Helvering«
and 2, 558,449 nontaxable.
As compared with the number of returns for 1935
by 821,254, or 39*7 percent, and the number of nontaxable returns increased b:
152,759, or 6»3 percent*
The total net income shown on the 1936 returns is #19,069,137,719, nhiclj
is an increase of #4,414,058,298, or 30*1 percent, over the amount reported
on the 1935 returns*
The net income shown on taxable returns is #14,212,40|
which is an increase of #4,251,833,574, or 42.7 percent, and the net income
"
>/
nontaxable returns is #4,856,735,138, which is an increase of #162,224,724,
5*5 percent.
The tax liability reported on taxable returns is #1,210,157,205, vfaichl
represents an increase of #500,"041,144*, or 85*0 percent*
The tax liability]
y
indicates an average rate of 6,5 percent on the net income reported on all
✓
returns and 8*5 percent on the net income reported on taxable returns*
Tbs
✓
average rates of tax for returns for 1935 were 4*5 percent on the net income
reported on
returns
all
returns and 6.6 percent on the net income reported on
taxable
r
Ec
e
^ eD
\OQ
1r
v^ U 'J
iaa
0^“fc1
Division
a,.(j 'oiatistic
TREASURY DEPARTMENT
W ASH IN G TO N
February 3, 1938.
O FFICE O F
COMMISSIONER OF INTERNAL REVENUE
A D D R E SS R EPLY TO
C O M M IS S IO N E R O F IN T E R N A L R E V E N U E
AND R E FE R TO
ITsClsStîEW
Memorandum for Mr, George C. Haas
Director of Research and Statistics*
Attention:
Miss
Execï
Dii
[ichener,
assistant to
V
There is attached herewith the suggested press release of the
"Preliminary Report, Statistics of Income for 1936, Individual Income
Tax Returns." Insofar as possible, the revisions suggested by Mr*
Zucker and Mr. O ’Donnell have been incorporated in the enclosed draft
I
Will,you kindly forward this to Mr* Gaston’s office for release
as soon as convenient? It would be appreciated if you would also ask
Mr* Gaston to forward to this office 100 copies of the mimeographed
release.
In regard to the three printed reports "Preliminary Report,
Statistics of Income for 1936, Individual Income Tax Returns,"
"Statistics of Income for 1935, Part 1, Individual Income Tax Returns
Estate Tax Returns and Gift Tax Returns," and "Statistics of Income
for 1935, Part 2, Corporation Income Tax Returns and Personal Holding
Company Returns," you are advised that the original copies will be
forwarded to the Printing and Binding Section of the Treasury as soon
as the suggestions of Mr* Zucker and Mr* O ’Donnell have been incor
porated* Because the funds for printing are already exhausted, it is
not known when these reports will appear*
Enclosure*
TREASURY DEPARTMENT
Washington
RELEASE, AFTERNOON NEWSPAPERS,
Monday, February 21, 1938.
27W38
jOR
Press Service
No. 12-57
Secretary of the Treasury Morgentha.u today made public preliminary statis
tics of individual income tax returns for 1936 filed in the period January
through August, 1937, prepared under the direction of Commissioner of Internal
Revenue Guy T. Helvering. '
The returns for 1936 numbered 5,447,439, of which 2,888,990 were taxable
and 2,558,449 nontaxable.
As compared with the number of returns for 1935 filed
in the period January through August, 1936, the total number of returns increased
by 974,013, or 21.8 percent, the number of taxable returns increased by 821,254,
or 39.7 percent, and the number of nontaxable returns increased by 152,759, or
6,3 percent.
The total net income shown on the 1936 returns is $19,069,137,719, which
is an increase of $4,414,058,298, or 30.1 percent, over the amount reported on
the 1935 returns.
The net income shown on taxable returns is $14,212,402,587,
which is an increase of $4,251,833,574, or 42.7 percent, and the net income on
nontaxable returns is $4,856,735,132, which is an increase of $162,224,724, or
3,5 percent.
The tax liability reported on taxable returns is $1,210,157,205, which
represents an increase of $556,167,338, or 85,0 percent.
The tax liability
indicates an average rate of 6.3 percent on the net income reported on all re
turns and 8.5 percent on the net income reported on taxable returns.
The
average rates of tax for returns for 1935 were 4.5 percent on the net income
~ 2 -
reported on all returns and 6.6 percent on the net incone reported on taxable
returns*
The returns for 1936 are filed under the provisions of the Revenue Act
of 1936 and reflect not only the application of a normal tax computed on divi
dends received from domestic corporations but also the increased surtax rates
on net incomes of more than $50,000.
The statistics are taken from returns as filed and prior to any revision
or adjustment that may subsequently be made as a result of audit by the Bureau
of Internal Revenue*
Included are amended returns showing net income of
$100,000 and over, but no tentative returns or amended returns with net income
under $100,000*
The data from income tax returns filed by individuals haviig
net income of $5,000 and over are tabulated from each such return.
The data
for individuals reporting net income of less than $5,000 are estimates based
on samples of such returns.
The following table presents, for individual income tax returns for 1936
and 1935, by net income classes, the number of returns, net income and total
tax liability:
3
Individual income tax returns f or 19361/ and 1935^' by net income
classes, shewing number of returns, net income and total
tax
figures in thousands of dollars)
(Net income classe;S and money :
Net income
classes .
«
t
: Number of returns
1935
:
1936
Net income
:
1935
: ' 1936
J
i
1936
Total tax
1935
3/
Under 5 (est.)—/
2,557,836
2,399,833
4,853,464
4,662,671 .
Under 5 (est.)
2,237,737
1,592,794
5,502,749
4,051,391
5 - 10
613
5,857
• f 3,272
31,839
5 - 10
417,111
316,922
2,838,959
2,150,752
76,761
47,207
10 - 25
175,164
121,895
2,606,789
1,797,245
174,159
102,257
25- 50'
40,782
25,623
1,388,322
‘ 868,469
189,666
105,728
50 - 100'
13,505
7,878
905,845
525,343
214,170
110,557
100 - 150
2,588
1,384
309,069
165,079
115,316
53,694
150 - 300
1,535
886
306,293
177,732^/
146,622
4/
73,106“/
300 - 500
330
204
124,523
77,116
71,440
36,856
500 - 1,000
177
109
122,212
73,811
78,603
38,323
61
41
41,499
5,447,439
4,473,426
77,138
73,630
. - .. .f
19,069,138 14,655,079^ 1,210,157
Uontaxable ,
returns
2,558,449
2,405,690
4,856,735
4,694,510
Taxable returns
2,888,990
2,067,736
14,212,403
9,960,569
1,000 and over
Total
66,282
44,763
-
107,641
653,990— -
4/
1,210,157
1/ Returns filed in period January through August, 1937.
¿1 Returns filed in period January through August, 1936.
3/ Nontaxable returns with net income of less than $6,000* Specific exemption from
normal tax and surtax exceed net income. A negligible number of nontaxable
returns in net income classes of $6,000 and over is not tabulated separately.
1/ Revised*
— oOo
TRSâSüHY
mPAm
MOT
lâsmdmm
fc® wsum v,w m ï m mmvmsm
$**»*
Serri ce
Saturday, February It. 1938.
275173a
—
------
Seoretary Morgenthau announced la st eren lag that the tenders for
#80,000,000, or thereabouts, o f 91-day Treasury h ills , to he dated February 25
sod maturing May 28, 1988, which were o ffered on February Id , were opened at
the Federal Reserre basks oa February 18.
The d e ta ils o f th is issu s are as fo llo w s!
Total applied fo r
Total accepted
« #141,485,000
♦
50,276,000
Reads o f aesoptod bids:
High
Low
Average p r ise
* 99.983 EquiTalent r a ts approximately 0.067 pero eut
* 99.978
*
*
*
0.099
*
- 99.977
*
*
9
0.092
»
|4 0 percent o f tho amount bid fo r a t the low p rice was accepted)
TEEASTOY DEPARTMENT
Washington
Press Service
No. 12-58
FOR r e l e a s e , m o r n i n g n e w s p a p e r s ,
Saturday, February 19, 1938.
2715738
Secretary Morgentheu announced last evening that the tenders for
$50,000,000, or thereabouts, of 91-day Treasury hills, to he dated February 23
and maturing May 25, 1938, which were offered on February 16, were opened at
the Federal Reserve banks on February 18.
The details of this issue arenas follows;
Total applied for
Total accepted
Range of accepted bids:
High
Low
Average price
•- $141,485,000
50,276,000
- 99.983 Equivalent rate approximately 0.067 percent
- 99.975
"
“
,r
0.099
»
-99.977
»
"
”
0.092
n
(40 percent of the amount bid for at the low price was accepted)
— 0O0
Servlet
li
U -
Secretary Morgenthau announced U H
ì°i '
evening that the tenders for too sortes 1 1
Treasury bills, to bo dated Marsh £, 1938, which «oro offered cm February 25, J
opened at the Federal Be serve benho on February £8.
Tenders «ere invited for the two series to the aggregate amount of #100,000J
or thereabouts, sad #391,676,000 «as applied for, of which #100,179,000 was accept!
Tbs dotai Is of the two eerie e (eeeh for #80,000,000, or thereabouts) are as folio«
M
91-B&Y fmmm m a s .
Total applied fo r *
Total accepted
lange:
High
Low
Average p rice
m
mamxm mm i .
193g
00,788,000
30,137,000
99.982 Equivalent rat# approximately 0.071 percent
99.977
«
*
»
0.091
*
99.978
m
m
»
0.086
*
(9 percent o f the amount bid fo r a t the lo » price wae accepted)
108-pay
T otal applied fo r *
Total accepted
*
Hange:
High
fntmm mus, mwwm mm 16.
itas
#180,896,000
80,048,000
100
lev
*
Average p rice
«
99.977 U n iv a len t ra te approximately 0.078 percent
99.983
«
«
*
0.058
(8 percent o f the «mount bid fo r a t tho low p rice «as accepted)
TREASURY DEPARTMENT
Washington
fOR RELEASE , MORNING- NEWSPAPERS,
luesdpy» March 1, 1938._________
Press Service
No. 12-59
Secretary Morgenth.au announced last evening that the tenders for two series
of Irea.su.ry "bills, to he dated March 2, 1938, which were offered on February 25,
,000,^
ICCOpd
were opened at the Federal Reserve banks on February 28.
Tenders v/ere invited for the two series to the aggregate amount of
follows $100,000,000, or thereabouts, and $391,676,000 was applied for, of which
$100,179,000 was accepted.
The details of tho two series (each for $50,000,000,
or thereabouts) are as follows:
91-DAY TREASURY BILLS, MATURING- JUNE 1, 1938
Total applied for Total accepted
Range :
High
Low
Average price
-
$230,782,000
50,137,000
99.982 Equivalent rate approximately 0.071 percent
99.977
11
»
11
0.091
M
99.978
M
n
11
0.086
V
(9 percent of the amount bid for at the low price was accepted)
106-DAY TREASURY BILLS, MATURING JUNE 16, 1938
Total applied for Total accepted
-
$160,894,000
50,042,000
Range :
High
Low
Average nr ice
-
100
99.977 Equivalent rate approximately 0.078 percent
99.983
*
n
'
it
0.058
w
(8 percent of the amount bid for a.t the low price was accepted)
Mr. [Raymond C. Cake is a native of Terre Hill, Pennsylvania.
He is ^3 years of age. He entered the service September 1 5 , 1 9 1 ^
as a Clerk in the Bureau of Internal Revenue at Washington, D. c. ’
and was transferred to the field service June 1, 1 9 1 6 , as Secretary
in the office of the Cotton Futures Attorney in New York City,
where he was employed until December 8, 1917, when he entered’
the U. S. Arajy, from which he was honorably discharged on July 2k
1919» He reentered the field service of the Bureau of Internal
Revenue on November 30, 1920, as an Internal Revenue Inspector,
on the income tax force, Baltimore Division; was transferred to
the Cleveland Division January 1, 1921 and promoted to Internal
Revenue Agent May l6, 1922. His assignment to the Cleveland
Division has been continuous and for a number of years he has
performed the duties of Assistant Internal Revenue Agent in
Charge.
JOHN R. KIRK
Appointed Deputy Commissioner of the Income Tax Unit,
Bureau of Internal Revenue, March 1st, 19 3 8 .
Mr. Kirk is a native of Owensboro, Kentucky.
of age.
He is 4.8 years
He entered the Internal Revenue Service at St. Louis, Missouri
August 15, 1913 as an Internal Revenue Inspector.
He was appointed
Agent in Charge of the Nashville, Tennessee Division in January 1921.
He subsequently served as Internal Revenue Agent in feharge of the
Pittsburgh Pennsylvania, Richmond Virginia, Springfield, Illinois
and Cleveland Ohio Divisions.
Committees in Washington.
He has served on various Bureau
^r. Cake i s 43 years old dud a native of
Terre H ill, Pa*
He entered the service in 1914 as a
clerk in the Bureau of Internal Revenue at Washington*
He re-entered the service in 1920 follow in g his honorable
discharge from the United S ta tes Amy and was assigned to
the field *
H© was promoted to an Internal Revenue Agent
at Cleveland in 1922 and has been there since*
ooOoo
For immediate relea se
Commissioner
Internal Revenue
G u y T,
Helve rin g , with the approval o f Secretary Morgenthau, today
announced the appointment of John R. Kirk to be Deputy
Commissioner in chaige of the Income
Tax
Unit of,th e
Bureau of Internal Revenue e
Mr. Kirk, who has been prjsmoted from the
post of Internal Revenue Agent in Charge for the Cleveland
d iv is io n , succeeds Charles T* R u ssell, who has resigned,
TIq *1W ä
4Vi/*.
Iso announced the
appointment as Deputy Commissioner and Acting Commissioner
in the absence of the Conmissioner of Milton E. Carter, who
has been A ssistan t to the Commissioner*
P reviously, Mr.
R u ssell had served as Acting Conmissioner when necessary.
To succeed Mr. Kirk at
Cleveland
the Ccmmissioner has named Raymond
C. Cake, who far a number
r
o f years has been A ssistan t Internal Revenue -^gent in
flfesssiK-
v Charge th ere.
Mr. Kirk, who is 48 years old, is a native
of Owensboro, Ky.
He entered the GovernnBnt service at St.
Louis, Mo., in 1918 a s an Internal Revenue Inspector.
1921 he was x ip M
(Tenn.) d iv isio n
appointed Agent in Charge of the
Nashville
and subsequently served in the same
for the P ittsburgh, Richmond and S p rin gfield (111.)
In
eapacit;
divisions
before going to Cleveland. &e also has served on a number of
Bureau committees in Y/ashington.
j mor e J
TREASURY- DEPARTMENT
Washington
FOE IMMEDIATE RELEASE,
Tuesday, March 1, 1938.
Press Service
No. 12-60
Commissioner of Internal Revenue Guy T. .Helvering, with the approval of
Secretary Morgenthau,^ today announced the appointment of John R. Kirk to "be
Deputy Commissioner in charge of the Income Tax Unit of the Bureau of Internal
Revenue.
Mr. Kirk, who has been promoted from the post of Internal Revenue Agent
in Charge for the Cleveland division, succeeds Charles T. Russell, who has re
signed.
Mr. Helvering also announced the appointment as Deputy Commissioner and
Acting Commissioner in the absence of the Commissioner of Milton E. Carter, who
has been Assistant to the Commissioner.
Previously, Mr. Russell had served
as Acting Commissioner when necessary.
To succeed Mr. Kirk at Cleveland, the Commissioner has named Raymond C.
Cake, who for a number of years has been Assistant Internal Revenue Agent in
Charge there.
Mr. Kirk, who is 48 years old, is a native of Owensboro, Kentucky.
He
entered the Government service at St. Louis, Missouri, in 1918 as an Internal
Revenue Inspector.
In 1921 he was appointed Agent in Charge of the Nashville
(Tennessee) division and subsequently served in the same capacity for the
Pittsburgh, Richmond and Springfield (Illinois) divisions before going to Cleveland
He also has served on a number of Bureau committees in Washington.
Mr. Cake is 43 years old and a native of Terre Hill, Pennsylvania.
He enter
ed the service in 1914 as a clerk in the Bureau of Interna,! Revenue at Washington.
~ 2 -
He
reentered the service in 1920 following his honorable discharge from tho Uni tod
States Army and was assigned to the field.
He was promoted to an Internal Reve
nue Agent at Cleveland in 1922 and has been there since.
— oOo—
*»
be allotted la fu ll.
$
«•
allotasnt notiees «111 be sent out promptly upoo allotsent.
IT.
F á M It
1« Bayment at par for boxtds alletted hereuader nsust be atada or cmpleted on
oí» befo re Mareb 15, 1938, or on labor allotaent, and aay be nade only ln Treasury
Rotas of Serles 0*1938, nata ring Rareb 18, 1988, whicb « ill be aeeopted at par,
and efeould aceoapany tbe subseription.
T.
CH5RH&Í, ftonsíD R S
1* A® fiscal agonía of the United States, federal Reserve b&sks are aothorii
and requested to recaí ve sahsorlptioaa, to
m k
o aXletneats on tb* basta and up to
t&e naonata indleated by tbe Soerotary of tbe Treasury to tito federal Reserve banks
of tb* respective dlstríete, to issue a11obstent notleoa, to reeelve paynsat for
bonds allottod, to »ale delivery of bonde on full-pald subseriptions allotted, and
tbey may issue latería rooeipte pending delivery of tbe definí tire bonds*
E* Tbe Sseretary of the treesary aay at «ay tiste, or from
t im
to time,
prescribe supplemental or «nendatory ralos and regulations goveming the offer*
ing, which «111 be commicated promptly to th# federal Reserve banks.
mmm
as,
Seoretary of the Treaeury.
authorized by the Second Liberty Bend Act, approved September £4, 1917, as amended,
the principal of which does not exceed in the aggregate #8,000, owned by any lndivij
ual, partnership, association, or corporation, shall be exempt from the taxes provifl
for la clans# (b) above*
3*
The bonds will be acceptable to secure deposits o f public moneys, hut will I
not bear thecirculation privilege end will not be entitled
to any privilege of eon-j
version*
4*
Bearer bonds with interest coupons attached, and bonds registered as to
principal and interest, will be Issued in denominations of #30, #100, 1500, #1,000,1
#5,000, #10,000 and #100,000*
of
Provision will be made for the interchange of bonds
different denominations and of coupon and registered bonds, and for the transfer I
ofregistered bonds, under
rules and regulations prescribed by
the Secretary of the!
Treasury*
5*
The bonds will be subject to the general regulations of the Treasury Depart!
meat, now or hereafter prescribed, governing United States bonds*
m . suBscHxmcm md mjsmm
1«
Subscriptions will be received at the Federal Reserve banks and branches
and at the Treasury Department, Washington*
Banking institutions generally may
submit subscriptions for account of customers, but only the Federal Reserve banks
and the Treasury Department ere authorised to act ae official agencies*
The
Secretary of the Treasury reserves the right to close the books as to any or all
subscriptions or classes of subscriptions at any time without notice*
2*
fhs Secretary of the Treasury reserves the right to reject any subscript! <»|
in whole or in part, to allot lass than the m o u n t of bonds applied for, to make
allotments in full upon applications for smaller amounts and to make reduced allot-1 i:
meats upon, or to reject, applications for larger amounts, or to adopt any or all oi
said methods or such other methods of allotment and classification of allotments aej
m a re a
»•i/«
sm fm
m
m m oÂ
mmmf r m m m b mm m
Dai ed and b e a r l a Int arasi from March 15, 1988
1948
Baa Septesiber 15, 1948
Interest payable March 15 and Septeaber li
r m m m r
1938
Departmest Circular Be« 881
Office of tha Beerstury, I
Bashiagton, March ?» igsfcj
Publio Dabi Service
X.
1»
liberty
O ff» » ff
BCfïDS
The Secretar? o f tbe freasury» pur suant t© tbe aatherity of thè Second
Borni
Act» approred Septes&er
84» 191?,
as amsn&ed» lavi tee subscrtptlons,
par, fresa thè peuple o f thè United States far &*l/8 percent bonds of
fise
Cuitad
all
staffi
designate* Tre&sury Bonds of 1948, In payaent o f wbieb only freasury Botes of Sari««
0-1938, maturi ng Itereb li, 1938» may be tsndered.
ffce assonni of tb® offering undsrl
tbis circular wlll be llmited to tbe amount of Treasury Botos of Serie» C-1938 ten-1
dered and aeeepted*
li*
1.
a i m m m m
m
n m m
fbe bonds «111 be dated Barati 19» 1938» and «ili bear Interest from that
date at tbe rate of $J|/i percent per ansnm» payable ssmiannnally» on Septeaber 13,1
1938» and tbereafter on March li and Septeoèer li In eacb year*
Tfcey «111 mature
September li» 1948» and «111 net be subjeet to sali for rédemption prier tc saturiti*
2«
tbe bonis shall be exempt» beth ae to principal and Interest, fresi all
taxation no« or be reafter Imposed by tbe United States, any State» or
possessions of
ta f
of tbe
United States» or b y o a y locai taxing authortty, sxeept (a)
estate or liberitene# taxes» or glft taxes» and (b) graduate« addii tonai incoia#
taxes, e c m o n l y kno«n as surtaxes» and excees-prefits and «ar-profits taxes« no«
or bereafter imposed by tbe United States» upon tbe lacerne or profite of i n d i v i d u a l i
partnersbipc» associations» or corporations*
fhe latcrsst on an «menni of bonds
maturing
l t S 0 9 w ith . t o
Mmreh l
flu tti s o s t o
t o
m
Sisroh
IS
d«t««h*4,
to
rifbfc Is r#«»rroa to « t o « t o
book« «# to n j or o n
ssbsorlptions ot «ay li»» without s o t t o « «od« ssbjost to t o
m « f i « i i » B s sot forti Is t o affisi«I o Ir ««lori oli a u t o r i o t t o #
will bo silottos Is full.
S t o l s i frostsry bills «tsrototlot |SD09S4S9000V »rito setto«
t o o d i o t s l r iftor
potilo
totf
Marsh IS«
whisk
boeonos
to
« t o t #1SS«0009000 istorost
io» os tool 18t «ili
*&sh bolsa««*
t o tost of t o
offloiol o l r o s t o tol t o s i
bo
sold
cm to
from
to
nusm t wmixmmt
#a*h lattea
im mmmnt m m t m
f m m s«m«*
M«.
loalay, darete 7,
&fà?m
Searatary t f Dm fraaaary 5$*rge&1Mi «&a««««4 taday thè affar
la « , tfcraagfc III© Federai Eeaerre ®tnfeaf a f /# yfc
7 r t6 « « 7 boads o f / / ^ { ? , la
y t« f 5*1/5 f* r# i* t
far I perea&t Trea«iry nota* «f
sarta« 1 4 » ^ a f whlah #455,175,500 st^nr« ©a Starali 15, 155®.
G lm n g m
«111 ba ani« fa r far far
«1U be 1 ta tted te ite
la «xdha&ge.
m om t
ir -
a f Sarea 15, «ad thè o f ta rla r
m
o f «aitar lag mota« teadarad «ad aaeepted
Ca*h aubeeriptioas w lll aet be ree* taad.
ffe# freaaory bead* aew offarad la axehatfe fa r thè naturi«« nata«
«SU be dated ttareh 15, 1535, «ad « i l i bear tatare«! fra» tl&at date i l
thè rata a f 5-1 M p ere« * par
m m m
payable ®asìl«ami«Uy.
They « i l i
nature d * }J # i* jL * / f } / f f Ì f » eu& «111 aat ba aabjeet ta a u lì far radaeptla»
balbra D a l data*
The Treeaary bamd» « i l i ba aaaordad thè «esse exenptleme
tm m
tesa -
tla a as ara aaaordad ©ther iaeues a f Traaaarr banda aow eut «tendina,
«hiah prorieioB» era epe« i f i« e li y «at forth la th» o ffla ttò atraalar
laaued today*
Tha baada «111 ba 1« m i la te e fernet bearar beai»
«Ith tatare»! coupon» «ttaahed, «ad baada r«gi«tered aa ta feoth
p rtm tp * X
«ad la te r a a ti both far»» « 1 U ba laaaad la tha d«aoeinatlen« a f #50,
firn, 1 1 ,0 0 0 , #5,ooof iiotooo «m
#1 0 0 ,0 0 0 .
Sabaarlftlaaa «111 ba «eeetrad a t tha fadarai 5—a tta Baal» «ad
Breaaha», «ad at tha fr«e«ury Dapartavat, taab la tte a , «ad ahaald ba
«eeoapanied by a lib a faaa «mount of Tre*««ry «ateo a f fa rla * 0-1535,
#105
TREASURY DEPARTMENT
Washington
I0R RELEASE, MORNING NEWSPAPERS,
Monday» March 7, 1938._________
Press Service
No. 12-61
P/ 38 ~
Secretary of tho Treasury Morgenthau announced today the offering, through
the Federal Reserve Banks, of 10-1/2 year 2-1/2 percent Treasury bonds of 1948,
in exchange for 3 percent Treasury notes of Series C-1938, of which $455,175,500
nature on March 15, 1938,
Exchanges will he made par for par as of March 15,
and the offering will he limited to the amount of maturing notes tendered and
accepted in exchange*
Cash subscriptions will not be received.
The Treasury bonds now offered in exchange for the maturing notes will be
dated March 15, 1938, and will bear interest from that date at the rate of 2-1/2
percent per annum payable semiannually*
They will nature September 15, 1948, and
will not be subject to call for redemption before that date.
The Treasury bonds will be accorded the same exemptions from taxation as are
accorded other issues of Treasury bonds now outstanding, which provisions are
specifically set forth in the official circular issued today.
issued in two forms!
The bonds will be
bearer bonds with interest coupons attached, and bonds
registered as to both principal and interest; both forms will bo issued in the
denominations of $50, $100, $500, $1,000, $5,000, $10,000 and $100,000.
Subscriptions will be received at the Fedora! Reserve Banks and Branches,
and at the Treasury Department, Washington, and should be accompanied by a like
face amount of Treasury notes of Series 0-1938, maturing March 15, 1938, with the
final coupon duo on March 15 detached.
The right is reserved to close the books as to any or all subscriptions at
any time without notice, and, subject to the reservations set forth in the
-
2
-
o f f i c i a l circular, all subscriptions will be allotted in full.
Special Treasury bills aggregating $400,642,000, which nature immediately
after March 15, and about $162,000,000 interest on the public debt, which becomes
due on March 15, will be paid fron the cash balance.
The text of the official circular follows-:
UNITED STATES OF AMERICA
2-1/2 PERCENT TREASURY BONDS OP 1948
Due Septenber 15, 1948
Dated and bearing interest fron March 15, 1938
Interest payable March 15 and Septenber 15
1938
Department Circular No. 581
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, March 7, 1938.
Public Debt Service
I.
1.
OFFERING OF BONDS
The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved Septenber 24, 1917, as amended, invites subscriptions,
at par, from the people of the United States for 2-1/2 percent bonds of the United
States, designated Treasury Bonds of 1948, in payment of which only Treasury Notes
of Series C-1938, maturing March 15, 1938, nay be tendered.
The amount of the
offering under this circular will be limited to the amount of Treasury Notes of
Series C-1938 tendered and accepted..
II.
1.
DESCRIPTION OF BONDS
The bonds will be dated March 15, 1938, and will bear interest from that
date at the rate of 2-1/2 percent per annum, payable semiannually, on September 15,
1938, and thereafter on March 15 and September 15 in each year.
They will mature
September 15, 1948, and will not bo subject to call for redemption prior to naturit;
2.
The bonds shall be exempt, both as to principal and interest, from all tax*
ation now or hereafter imposed by the United States, any State, or any of the pos
sessions of the United States, or by any local taxing authority, except (a) estate
or inheritance taxes, or gift taxes, and (b) graduated additional income taxes,
commonly known as surtaxes, and excess-profits and war-profits taxes, now or here9fter imposed by the United States, upon the income or profits of individuals,
partnerships, associations, or corporations.
The interest on an amount of bonds
- 2 authorized by the Second Liberty Bond Act, approved September 24, 1917, as amended,
the principal of which does not exceed in the aggregate $5,000, owned by any indi
vidual, partnership, association, or corporation, shall be exempt from the taxes
provided for in clause (b) above.
3.
The bonds will be acceptable to secure deposits of public moneys, but will
[not tear the circulation privilege and will not be entitled to any privilege of con
version.
4.
Bearer bonds with interest coupons attached, and bonds registered as to
principal and interest, will be issued in denominations of $50, $100, $500, $1,000,
$5, 000, $10,000 and $100,000.
Provision will be made for the interchange of bonds
of different denominations and of coupon and registered bonds, and for the transfer
of registered bonds, under rules and regulations prescribed by the Secretary of the
Treasury.
5.
The bonds will bo subject to the general regulations of the Treasury De
partment, now or hereafter prescribed, governing United States bonds.
III.
SUBSCRIPTION AND ALLOTMENT
1., Subscriptions will be received at the Federal Reserve banks and branches
and at the Treasury Department, Washington.
Banking institutions generally may
:submit subscriptions for account of customers, but only the Federal Reserve banks
and the Treasury Department are authorized to act as official agencies.
The
Secretary of the Treasury reserves the right to close the books as to any or all
'Subscriptions or classes of subscriptions at any time without notice.
2.
The Secretary of the Treasury reserves the right to reject any subscrip
tion, in whole or in part, to allot less than the amount of bonds applied for, to
make allotments in full upon applications for smaller amounts and to make reduced
allotments upon, or to reject, applications for larger amounts, or to adopt any"or
aH of said methods or such other methods of allotment and classification of
- 3 -
allotments as shall "be deemed "by him to ho in t h e public i n t e r e s t ; and his action
in any or all of these respects shall he final.
all subscriptions will be allotted in full.
Subject to these reservations,
Allotment notices will be sent out
promptly upon allotment.
IV.
1.
PAYMENT
Payment at par for bonds allotted hereunder must be made or completed on
or before March 15, 1938, or on later allotment, and may be made only in Treasury
Notes of Series C-1938, maturing March 15, 1938, which will be accepted at par,
and should accompany the subscription,
1.
V.
GENERAL PROVISIONS
As fiscal agents of the United States, Federal Reserve banks are author
ized and requested to receive subscriptions, to make allotments on the basis and
up to the amounts indicated by the Secretary of the Treasury to the Federal Reserve
tanks of the respective districts, to issue allotment notices, to receive payment
for bonds allotted, to make delivery of bonds on full-paid subscriptions allotted,
and they may issue interim receipts pending delivery of the definitive bonds.
2.
The Secretary of the Treasury may at any time, or from tine to time,
prescribe supplemental or amendatory rules and regulations governing the offer
ing, which will be communicated promptly to the Federal Reserve banks.
HENRY MORGENTHAU, JR.,
Secretary of the Treasury.
TREASURY DEPARTMENT
WasMiigt on
LjSASE M0E1JI1TS NEWSPAPERS
March 10, 1938
PHESS SERVICE
12 - 62
j, F. T. O ’Connor, Comptroller of the Currency, today announced the compleI I of the liquidation of 30 receiverships during the month of February, 1S38.
Is makes a total of 1009 receiverships finally closed or restored to solvency
[ice the Banking Holiday of March, 1933,
Total disbursements, including offsets
Led, to depositors and other creditors of these 1009 receiverships, exclusive
fthe 42 restored to solvency, aggregated $377 503 408 00, or an average return
179.84 per cent of total liabilities, while unsecured creditors received diviinds amounting to an average of 65.91 per cent of their claims.
Dividends distri
cted to creditors of all active receiverships during the month of February, 1938,
Lunted to $2 754 040 00.
Total dividends paid and distributions to depositors
Call receiverships from March 16, 1933, to February 28, 1938, amounted to
97 809 663 00.
pLUSIA NATIONAL BANK, ANDALUSIA, ALABAMA:
This bank was placed in receivership October 5, 1932.
Depositors and other
Editors received, including offsets allowed, $731 259 00, representing 58.18$ of
btal liabilities established.
Unsecured depositors received dividends aggregating
of claims proved.
piD NATIONAL BANK, NEW HAMPTON, IOWA:
This bank was placed in receivership July 14, 1931.
Depositors and other
reditors received, including offsets allowed, $609 085 00, representing 88.76$ of
otal liabilities established.
Unsecured depositors received dividends aggregating
[•5$ of claims proved.
iATE NATIONAL BANK IN TERRELL, TEXAS:
This bank was placed in receivership July 6, 1932.
Depositors and other
~ 2 -
c r e d it o r s
received, including offsets allowed, $169 084 00, representing 78.63$
of total liabilities established.
Unsecured depositors received dividends aggre
gating 68$ of claims proved.
MERCHANTS NATIONAL BANK, WADENA, MINNESOTA:
This bank 7/as placed in receivership December 16, 1932.
Depositors and other
creditors received, including offsets allowed, $542 100 00, representing 89.3$ of
total liabilities established.
Unsecured depositors received dividends aggregating
82.77jo of claims proved.
FIRST NATIONAL BANK, SOMERFIELD, PENNSYLVANIA:
This bank was placed in receivership November 5, 1931.
Depositors and other
creditors received, including offsets allowed, $211 271 00, representing 93.14$ of
total liabilities established.
Unsecured depositors received dividends aggregating
86.7$ of claims proved.
FIRST NATIONAL BANK, MONTEREY PARK, CALIFORNIA:
This bank was placed in receivership February 9, 1932.
Depositors and other
creditors received, including offsets allowed, $350 312 00, representing 72.57$ of
\
total liabilities established.
Unsecured depositors received dividends aggregating
50.22$ of claims proved.
FIRST NATIONAL BANK, MANSFIELD, ARKANSAS:
This bank was formerly in conservatorship.
ship November 3, 1933.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $83 736 00, representing 63.16$ of total liabilities established.
Unse
cured depositors received dividends aggregating 56.6$ of claims proved.
MIDWAY NATIONAL BANK, MIDWAY, PENNSYLVANIA:
This bank was formerly in conservatorship.
It was finally placed in receiver-
- 3 -
ship September 15, 19 3 3 .
Depositors and oth^r creditors received, including off
sets allow ed, $253 727 0 0 , representing 9 1 .8 3 $ of total liabilities established.
U nsecured
depositors received dividends aggregating 9 1 .3 2 $ of claims proved.
STOCK GROWERS & FARMERS RATIONAL BANK, WALLOWA, OREGON:
This bank was formerly in conservatorship.
ship March 6, 1934.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $271 564 00, representing 104.44$ of total liabilities established.
Unse
cured depositors received dividends aggregating 100$ principal plus an additional
interest dividend of 14$.
ITHACA NATIONAL BANK, ITHACA, MICHIGAN:
This bank was placed in receivership December 7, 1931.
Depositors and other
creditors received, including offsets allowed,$420 369 00, representing 80.49$ of
total liabilities established.
Unsecured depositors received dividends aggregating
79.68$ of claims proved.
COLDWATER NATIONAL BANK, COLDWATER, MICHIGAN:
This bank was formerly in conservatorship.
ship May 15, 1934.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $737 946 00, representing 101.12$ of total liabilities established.
Unse
cured depositors received dividends aggregating 100$ principal plus an additional
interest dividend of 2.45$.
FIRST NATIONAL BANK, CLARKSVILLE, TEXAS:
This bank was formerly in conservatorship.
ship March 1, 1934.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $294 754 00, representing 89.96$ of total liabilities established.
°nred depositors received dividends aggregating 89$ of claims proved.
Unse-
- 4 -
FIRST NATIONAL BANK, HAITI, SOUTH DAKOTA:
This "bank was formerly in conservatorship.
s h ip
December 11, 1933.
It was finally placed in receiver
Depositors and other creditors received, including offsets
allowed, $170 475 00, representing 90.89$ of total liabilities established.
Unse
cured depositors received dividends aggregating 75.4$ of claims proved.
FIRST NATIONAL BANK, BRISTOW, OKLAHOMA:
This bank was placed in receivership April 25, 1928.
Depositors and other
creditors received, including offsets allowed, $433 020 00, representing 59.2$ of
total liabilities established.
Unsecured depositors received dividends aggregating
38.95$ of claims proved.
FIRST NATIONAL BANK, DAVIDSVILLE, PENNSYLVANIA:
This bank was placed in receivership July 6 ? 1932.
Depositors and other
creditors received, including offsets allowed, $93 864 00, representing |70.59$ of
total liabilities established.
Unsecured depositors received dividends aggregating
64$ of claims proved.
CAROLINA NATIONAL BANK, SPARTANBURG-, SOUTH CAROLINA:
This bank was placed in receivership December 30, 1929.
Depositors and other
creditors received, including offsets allowed, $709 163 00, representing 63.94$ of
total liabilities established.
Unsecured depositors received dividends aggregating
54.98$ of claims proved.
PIRST NATIONAL BANK, SEA ISLE CITY, NET/ JERSEY:
This bank was placed in receivership November 11, 1931.
Depositors and other
creditors received, including offsets allowed, $184 043 00, representing 55.16$ of
total liabilities established.
35.25$ of claims proved.
Unsecured depositors received dividends aggregating
~ 5 -
IjjBST NATIONAL BANK, MANAWA, WISCONSIN:
This bank was formerly in conservatorship.
¡ship March 14, 1934.
It was finally placed in receiver^
Depositors and other creditors received, including offsets
allowed, $357 079 00, representing 89.59$ of total liabilities established.
Unse
cured depositors received dividends aggregating 84.2$ of claims proved.
ETIONAL CITIZENS BANK, LAKE BENTON, MINNESOTA:
This bank was placed in receivership October 28, 1932.
Depositors and other
creditors received, including offsets allowed, $138 784 00, representing 58.79$ of
total liabilities established.
Unsecured depositors received dividends aggregating
34$ of claims proved.
FIRST NATIONAL BANK, VICTORIA, VIRGINIA:
This bank was placed in receivership February 9, 1932.
Depositors and other
[creditors received, including offsets allowed, $301 859 00, representing 92.65$ of
total liabilities established.
Unsecured depositors received dividends aggregating
87.5$ of claims proved.
MM
CITY NATIONAL BANK, UNION CITY, NEW JERSEY:
This bank was placed in receivership August 6, 1931.
Depositors and other
creditors received including offsets allowed, $73 7 547 00, representing 76.2$ of
total liabilities established.
Unsecured depositors received dividends aggregating
72.82$ of claims proved*
ITRST NATIONAL BANK, ALVA, OKLAHOMA:
This bank was placed in receivership March 18, 1932.
Depositors and other
creditors received, including offsets allowed, $398 347 00, representing 74.6$ of
tQtal liabilities established.
22$ of claims proved.
Unsecured depositors received dividends aggregating
-
6
-
FIRST NATIONAL BANK, NORTHWOOD, IOJA:
This hank was placed in receivership August 8 , 1932.
Depositors and other
creditors received, including offsets allowed, $187 856 0 0 , representing 7 8 .9 7 $ of
total liabilities established.
Unsecured depositors received dividends aggregating
73.1$ of claims proved.
AMERICAN NATIONAL BANK, KEWANNA, INDIANA:
This bank was placed in receivershijh February 25, 1930.
Depositors and other
creditors received, including offsets allowed, $216 377 00, representing 94.8$ of
total liabilities established.
Unsecured depositors received dividends aggregating
92.75$ of claims proved.
HANCOCK NATIONAL BANK, SPARTA, GEORGIA:
This bank was placed in receivership May 24, 1932.
Depositors and other
creditors received, including offsets allowed, $174 971 00, representing 76.14$ of
total liabilities established.
Unsecured depositors received dividends aggregating
57.75$^ of claims proved.
FIRST NATIONAL BANK, WOODWARD, OKLAHOMA:
This bank was placed in receivership January 21, 1932.
Depositors and other
creditors received, including offsets allowed, $408 943 00, representing 87.59$ of
total liabilities established.
Unsecured depositors received dividends aggregating
53.5$ of claims proved.
CITIZENS & SECURITY NATIONAL BANK, ST. JAMES, MINNESOTA:
This bank was placed in receivership February 6, 1933. Depositors and other
creditors received, including offsets allowed, $429 300 00, representing 101.01$ of
total liabilities established.
103.25$ of claims proved.
Unsecured depositors received dividends aggregating
- 7 -
IIEST NATIONAL BANK, LEWISVILLE, INDIANA:
This hank was placed in receivership October 8 , 1932.
Depositors and other
Ireditors received, including offsets allowed, $201 234 00, representing 6 9 .8 6 $ of
(total liabilities established.
Unsecured depositors received dividends aggregating
§1,4$ of claims proved.
CLAIRE NATIONAL BANK, EAU CLAIRE, WISCONSIN:
A receiver was appointed for this bank under date of April 15, 1935, for the
lurpose of collecting a stock assessment covering deficiency in value of assets
cold and/or completing unfinished liquidation, depositors and creditors having .
leen previously paid in full by assumption of liabilities by another bank. Divi
dends paid amounted to 22.315$ of claims proved, w&ile total disbursements by the
receiver, including offsets allowed, aggregated $86 091 00, representing 44.57$ of
total liabilities.
FIRST RATIONAL BANK, CAMBRIDGE, ILLINOIS:
A receiver was appointed for this bank under date of January 8, 1932, for the
purpose o f
p oll
collecting a stock assessment covering deficiency in value of assets
and/or completing unfinished liquidation, depositors and creditors having been
p re v io u s ly
paid in full by assumption
Of
liabilities by another bank.
Dividends
pid amounted to 10.031$ of claims proved, while total disbursements by the
r e c e iv e r ,
including offsets allowed, aggregated $158 889 00, representing 78.29$ of
fotal liabilities.
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OH RESTORED TO SOLVENCY DURING THE MONTH OF
FEBRUARY, 1938
Name and Location of Bank,
Per Cent
Total
Total Dis
Disbursements
bursements
Date of
Including
to Total
Failure• Offsets Allowed. Liabilities,
Andalusia Natl Bank
Andalusia, Ala.
1 0 -5 -3 2 $ 731 259 00
Second Natl Bank
New Hampton, Iowa
7— 1^-31
6O9 0S5 00
State Natl Bank in
Terrell, Texas
7 -6 -3 2
I 69 os*+ 00
Merchants Natl Bank
Wadena, Minn.
5L2 100 00
12 - 16 -3 2
First Natl Bank
Somerfield, Pa.
2 11 271 00
1 1 -5 -3 1
First Natl Bank
2/
Hayti, So. Dak.
12 - 1 1 -3 3
I 70 *+75 00
First Natl Bank
Monterey Park, Calif.
2 -9 -3 2
35O 312 00
First Natl Bank
2/
Mansfield, Ark,
1 1 -3 -3 3
S3 736 00
Midway Natl Bank
2/
Midway, Pa,
253 7 2 7 00
9 - 15 -3 3
Stockbrokers & Farmers NB gj
Wallowa, Ore.
271 56 U 00
3-6-3*+
Ithaca Natl Bank
Ithaca, Mich
U20 369 00
1 2 -7 -3 1
Coldwater Natl Bank
2/
5- 1 5 - 3L
Coldwater, Mich.
737 9*+6 0 0
First Natl Bank
C la r ls : s v illf e v T e x a s
"Na.tX Bazik:
B
r i . 't o
'. »
O l c l a .'.
2/
3- 1 - 3L
U-25-SS
29L 75h 00
U33 020 00
Per Cent
Dividend
Declared
to All
Claimants.
Capital
Stock at
Date of
Failure.
Cash, Assets,
Uncollected Stock
Assessments, etc.
Returned to Share
holders * Agent.
58 . i s
1 9 .7 2
s s . 76
S 7 -5
100 000 00
000
78 .6 3
68 .
100 000 00
000
8 9 .3
8 2 .7 7
100 000 00
000
$200 000 00
$
000
,93.1*+
8 6 .7
25 000 00
000
90 . S 9
75.*+
25 000 00
000
7 2 .5 7
50.22
25 000 00
000
6 3 .1 6
5 6 .6
25 000 00
000
9 1 .8 3
9 1.3 2
50 000 00
000
50 000 00
000
10*+.*&
Ilk.
S0 .U 9
7 9 .6 8
25 000 00
000
1 0 1 .1 2
1 0 2 .^ 5
100 000 00
000
89-9 6
S9.
50 000 00
000
5 9 -2
3S.95
50 000 100
000
Page
INSOLVENT NATIONAL BANKS L I Q U I D A T E AND FINALLY CLOSED
OH R2STOHSD TO SOLVENCY DURING THN MONTH OF
FEBRUARY,
193S
Per Cent
Total
Total Dis
Di sbursements
bursements
Date of
Including
to Total
Name and Location of Bank. .Failure. Offsets Allowed. Liabilities.
Capital
Stock at
Date of
Failure.
Cash, Assets,
Uncollected Stock
Assessments, etc.
Returned to Share
holders * Agent.
93 S6U 00
70.59
6 U.
7 O9 16 3 00
63.9^
5 L. 9 S
200 000 00
000
11-11-31
1 SU 0L3 00
5 5 .1 6
35.25
50 000 00
000
3 -IJ4-.3U
7 57 079 00
89-59
S L .2
25 000 00
000
10-23-32
13 8 7 SU 00
58.79
3^.
25 000 00
000
2-9-32
301 859 00
9 2 .6 5
87-5
25 000 00
000
8-6-31
737 5L7 00
7 6 .2
72.32
300 000 00
000
3 -IS -3 2
398 3^7 00
7 L .6
22.
50 000 00
000
3-8-32
137 356 00
78.97
73.1
50 000 00
000
2-2 5 -3 0
216 377 00
9 ^ .8
92.75
25 000 00
000
7-6-32
1
CJ
1
O
CVJ
:I**N
H
Fir st Natl Bank
Davidsville, Pa.
Carolina Natl Bank
Spartanburg, So. Oar.
First Natl Bank
Sea Isle City, N. JFirst Natl Bank
2/
Mans.wa, Wise.
Natl Citizens Bank
Lake Benton, Minn.
First Natl Bank
Victoria, Va.
Union City Natl Bank
Union City, N. J.
First Natl Bank
Alva, Okla.
First Natl Bank
Northwood, Iowa
American Natl B^nk
Kewanna., Ind.
Hancock Natl Bank
Sparta, Ga.
Per Cent
Dividend
Declared
to All
Claimants.
$
$ 2 5 000 00
$
000
5-2U-32
H
971 00
7 6 .lL
57.75
25 000 00
000
First Natl Bank
Woodward, Okla.
I-21-32
C i t i z e n s & S e c u r i t y 33B
S t . Jam es, täin n .
LOS 9 L 3 00
87-59
53.5
50 000 00
000
2 -6 -3 3
U29 300 00
10 1.0 1
1 0 3 .2 5
so 000 00
000
2
F age
3
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
FEBRUARY,
1938
Name and Location of Bank.
First Natl Bank
Lewisville, Ind.
Eau Claire Natl Bank
Eau Claire, Wis.
First Natl Bank
Cambridge, 111.
Per Gent
Total Dis
Total
bursements
Disbursements
to Total
Date of
Including
Failure. Offsets Allowed. Liabilities.
10-8-32
$
Per Cent
Dividend
Declared
to All
Claimants.
Capital
Stock at
Date of
Failure.
Cash, Assets,
Uncollected Stock
Assessments, etc.
Returned to Share
holders* Agent.
2 0 1 2 3 U 00
6 9 .8 6
5 U.U
86 0 9 1 0 0
HU. 5 7
22.315
15 0 000 00
000
15 8 889 00
7 S .2 9
1 0 .0 3 1
50 0 0 0 0 0
000
$ 3 5 0 0 0 00
$
000
1 /
’
-*-15-35
1 /
1-8-32
1J
-
Receiver appointed to levy and collect stock assessment covering deficiency in value of
assets sold, or to complete unfinished liquidation*
2/
-
Formerly in conservatorship.
rÊMmtm m m m m m
ton m siss, w m sm M
M i
Press s«m««
Tuesday, Mardi 8, 1938.
Secx-oi^a^y of the Treasury Mergenthau announced last night that the
subscription boohs for the suri»at offering of 2-1/2 percent Treasury Bonds
of 1949 will cl osa at the d o s e of business Wedas sday , March 9, 1938«
This
offering is opea only to the holders of Treasury lotes of Series 0-1938,
maturing March 13, 1938«
Subscriptions placed la the mail before 12 o ’clock midnight,
Wednesday, March 9, will be considered as having bean entered before the
close of the subscription books*
Announcement of the «mount of subseriptlons and their division
among the several federal Reserve districts will be made later*
S r "Yk ^ I
(?-.
" *w^-4
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, March 8, 1938.
ZpffZQ
Press Service
No. 12-63
Secretary of the Treasury Morgenthau announced last night that the
subscription hooks for the current offering of 2-1/2 percent Treasury Bonds
of 1948 will close at the close of business Wednesday, March 9, 1938,
This
offering is open only to the holders of Treasury Notes of Series C-1938,
naturing March 15, 1938.
Subscriptions placed in the nail before 12 o ’clock midnight, Wednesday,
March 9, will be considered as having been entered before the close of the
subscription books.
Announcement of the amount of subscriptions and their division among
'¿ f |
'V '
"i
»
W
VA*
. A ' :
4
■
V
;
;
.Jÿ -,
Ï
( ,>
;V
the several Federal Reserve districts will be made later.
— oOo—
* . /
.
TREASURY
DEPARTMENT ,
Washington
N £ u#
RELEASE, A r F T ^ j y o < n v
FOR 5
ferch
1938
Secretary
silver
life
States
Coast
of the
Guard
Treasury
Morgenthau
Station at
Hill—II»' lini ng
Atlantic
a
at the foot of
Atlantic
oil
a®erv\..!*f~2
l W | M i(Y Ja n u a ry • ^ '5
Rhode Island
barge and «hue
alG^g^l^gMwipp
in
38
degrees *t£
l
he
held
water
avenue
off,
at
swimming
which was
at
woman for
12‘* W
Gardners
cries for help,
a
siyj
the unconscious
award of|
City.
City. Surfman Applegate heard her
docked
announces the
ApplegatefNNM^pHMMtap th e Units]
Surfman
S f ’■vU rW v -fW -A
water
Service
No.
saving medal to
■ Mm
the
Press
Basin,
ran to
about sixty
low
a woman i'e||
yards
temperature of
K ^
about
five
minutes
until
<*r
a
Coast
Guard
picket
<jL "Surfman
and
assumed
boat
arrived
Applegate indeed
displayed
risks to his own life in
this woman,"
declared
of the Coast
Guard.
# Rear
and picked
up both.
courage
swimming to the
Admiral
and initiative
assistance of
R.R. Waesche, Commandant
o
vA a .
&-The medal
has been forwarded
to the
snwirnidflinq« officer
-¡L
of the
Atlantic
City
to Surfman Applegate.
-o -
A
Station^who will formally
award
it
i/k
(|
TREASURY DEPARTMENT
Washington
FOE RELEASE, AFTERNOON NEWSPAPERS,
Tuesday» March 8, 1938.__________
377738
Press Service
No. 12-64
Secretary of the Treasury Morgenthau announces the award of a silver
life saving nédal to Surfnan Robert E. Applegate of the United States Coast
Guard Station' at Atlantic City.
During the forenoon of January 12 a woman fell into the water at the
foot of Rhode Island Avenue at Gardners Basin, Atlantic City.
Surfnan
Applegate heard her cries for help, ran to a docked oil barge and dived off,
swimming about sixty yards in water which was at a low temperature of 38
degrees and 12 feet in depth.
He held the unconscious wonan for about five minutes until a Coast Guard
picket boat arrived and picked up both.
"Surfnan Applegate indeed displayed courage and initiative and assumed
risks to his own life in swimming to the assistance of this woman," declared
Rear Admiral R. R. Waosche, Commandant of the Coast Guard, in recommending
the award#
The medal has been forwarded to the Officer in Charge of the Atlantic
City Station, who will formally award it to Surfman Applegate.
— 0O0—
wm§mm
mmmwm
mt mmm§ mmnm mmmmm
’*
March
9»
same#
1966
S a c r a ta r y mt&mtkm (ÊxammêA l a s t i w , i a g th a t th e tcn d crii f o r two
a©rl©a of froMKisrr b ills» to b© iat©€ ¡8*r«b 9» IffMI« tfeltfc
w m m ©p©a©6
a t tfe» ?©d©ral Paesrf© bask© ©a
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a*r«& f .
f»aS©rs war© M &M far tb© two Mtiaa to tbs assrasst*
flO&»Q0O,0OOt or tbsraabsats, üüi
©f
m m m
*a* appliad for» of sbisb
$100»189,000 m s aeaaptad* ffe* ¿©tails ©f th© to© ©arias {«*«& for ^»»000,000,
or thereabout©) ar© a© folio©© i
smi
to ta l * ff& M for
fa ta l accepted
*S8f»696»000
50,166,00©
High
lew
aBKHtt 3 9 Ü 6* w
»
M .908
■ft, 981
S q a tv a ln t rat* «pprosiaali*!.? 0.000
•
*
•
0.OTS
99.982
Average price
"
»
ft
«
( f t pareeat ©f ta© «aoiat bid fo r « t tb© lew frit©
m »
«
"
a«e©pt©d>
8189,587,000
fa ta l appliad fo r
f e t a l M W ptid
•e
Average price
0.073
»,»8,000
»
-
99.996
99*960
-
99.984
SttaiTaUst rat© approximately 0*016
*
*
*
©.096
*
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"
0.059
pm m m t
*
(69 p a ren t o f tb© assaut bid fa r a t tb© 1©» prie© *»© ©©«©pt#d)
TREASURY DEPARTMENT
Washington
Press Service
No. 12-65
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, March 8, 1938.
5/7738
Secretary Morgenthau announced last evening that the tenders for two
series of Treasury hills, to he dated March 9, 1938, which were offered on
March 4, wore opened at the Federal Reserve hanks on March 7.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $386,883,000 was applied for, of which
$100,189,000 was accepted.
The details of the two series (each for $50,000,000,
or thereabouts) are as follows:
91-DAY TREASURY BILLS, MATURING JUNE 8, 1938
Total applied for Total accepted
Range :
High
Low
Average price
-
$227,296,000
50,156,000
99.985
99.981
99.982
Equivalent rate approximately 0.059 percent
*
»
"
11
0.075
»
>'
"
,f
0.073
*
(92 percent of the amount hid for at the low price was accepted)
99-DAY TREASURY BILLS, MATURING JUNE 16, 1938
Total applied for Total accexoted
Range :
High
Low
Average price
$159,587,000
50,033,000
99.995
99.980
99.984
Equivalent rate approximately 0.018 percent
»
»
»
0.073
"
<»
,f
»
0.059
,r
(69 percent of the amount hid for at the low price was accepted)
— 0O0—
.IMPORTS Of DOUGLAS PIE, WESTERN HEMLOCK AND RED CEDAR SHINGLES
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
During the Period January 1 to February 26, 1938
(Preliminary Figures)
Customs District
TOTAL IMPORTS
Per Cent of Quota
Sawed Timbér & Lumber Not Specially Provided For;
: Douglas
: Western : Mixed Fir i Total Fir : Red Cedaa
:
Fir
: Hemlock : & Hemlock : & Hemlock : Shingles
: (Bd.Ft.) : (Bd.Ft.) : (B d . F t .) : (Bd. F b . ) : (Squares!
* 15,211,855
2,533,793
6,273,107
24,018,755
9*61$
426,2721
46.521
FROM CANADA
Alaska
Buffalo
Connecticut
Dakota
Duluth & superior
Galveston
Indiana
Los Angeles
Maine and N. H.
Massachusetts
Michigan
New York
Ohio
Philadelphia
Rhode Island
St. Lawrence
San Francisco
Vermont
Washington
2,370
330,845
2,086,504
3,543,801
1,856,743
-
«
290,929
•
-
310,332
1,111,913
*
—
2,370
621,774
2,086,504
3,854,133
2,968,656
-
—
_
-
-
«
—
-
-
«
•
4,045,125
4,585
1,975,883
28,009
6,273,107
4,045,125
4,585
1,369,100
-
606,783
28,009
-
-
-
m
—
..
151,283
•
460,415
-
150
-
103,515
1,408,702
—
6,273,107
mm
—
—
—
mm
-
34,544
mm
-
611,698
_
150
103,515
1,443,246
m
16,332
p.
182,605
37,762
20,236
170
2,006
•
250
250
2,344
260
-
250
499
950
8,310
154,048
* Executive Order No. 7822, of February 25, 1938, limits importations of red cedar
shingles from Canada to 916,246 squares, during the first six months of the
calendar year 1938.
(Prepared by Division of Statistics and Research, Bureau of Customs)
Ihe commissioner of Customs today announced preliminary
figures for imports of Douglas fir, Western hemlock and red cedar
shingles, under the quota provisions of the Canadian Trade Agree
ment, during the period January 1 to February 26, 1958, and the
percentage that such imports bear to the totals allowable under
the quotas, as follows:
OFFICE OF THE COMMISSIONER OF CUSTOMS
(Sta)
MAR9 - 1938
MR. GASTOK
(Attention of Mr. Schwarz, Room 289, Treasury Building)
FROM THE COMMISSIONER OF CUSTOMS:
There is inclosed for immediate release a tabulation showing
imports of Douglas fir, Western hemlock and red cedar shingles,
under the quota provisions of the Canadian Trade Agreement, during
the period January 1 to February 26, 1938.
When the release has been mimeographed, please have 125 copies
forwarded to Mr. Freeman, Room 415, Washington Building.
TREASURY DEPARTMENT
Washington
?0R IMMEDIATE RELEASE,
fcdnosday, March 9, 1938.
Press Service
No. 1^-66
The Commissioner of Customs today announced preliminary figures for imports
of Douglas fir, Western hemlock and red cedar shingles, under the quota provisions
of the Canadian Trade Agreement, during the period January 1 tc February 26, 1938,
and the percentage that such imports hear to the totals allowable under the
quotas, as follows?
Customs District
I0TAL IMPORTS
Per Cent of Quota
FROM CANADA
Alaska
Buffalo
Connecticut
Dakota
Duluth & Superior
Galveston
Indiana
Los Argeles
Maine & N.H,
Massachusetts
Michigan
How York
Ohio
Philadelphia
Rhode I sland
St. Lawrence
San Francisco
Vermont
Washington
Sawed Timber & Dumber Not Specially Provided For:
Total Fir : Red Cedar
: Douglas
: Western ! Mixed Fir
& Hemlock ! Shingles
:
Fir
: Hemlock : & Hemlock
(Bd. Ft.) : (Squares)
: (Bd.Ft.)
: (Bd.Ft.) : (Bd. Ft.)
15,211,855
2,370
330,845
2,086,504
3,543,801
1,856,743
2,533,793
-
290,929
-
310,332
1,111,913
—
_
4,045,125
4,585
1,369,100
-
606,783
28,009
-
—
151,283
-
-
6,273,107
-
—
150
—
103,515
1,408,702
-
24,018,755
9.61$
426,272*
46.52$
2,370
621,774
2,086,504
3,854,133
2,968,656
-
16,332
182,605
37,762
20,236
170
2,006
250
250
2,344
260
250
499
950
8,310
154,048
—
_
460,415
6,273,107
—
-
»
«#■
—
-
34,544
-
4,045,125
4,585
1,975,883
28,009
6,273,107
611,698
150
-
103,515
1,443,246
*Exocutive Order No# 7822, of February 25, 1938, limits importations of red cedar
shingles from Canada to 916,246 squares, during the first six months of the
calender year 1938,
—
o Oq
•IMPORTATIONS OF CATTLE, CREAM AND CERTIFIED SEED POTATOES
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Preliminary Figures as of February 26, 1938
Customs District
January 1 to February 26, 1938
CATTLE
: OATTLE 700# : DAIRY COWS
-UNDER 175# : <B MORE
r .700# OR MORE
(Head)
: (Head)
:
(Head)
TOTAL IMPORTS
Per Cent of Quota
6,407
12.3$
FROM CANADA
Buff alb
Chicago
Dakota
Duluth & Superior
Florida
Maine & N. H.
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
St. Lawrence
Vermont
Viriginia
Washington
Total from Canada
1,880
3
—
7
206
3,995
130
67
10
6,298
862
49
649
33
2
484
2,899
39
19
28
1
0
820
5,885
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
96
11
2
109
2,179
2,431
957
176
5,743
11,628
______ 7-5#
834
4.2$
«.
_
—
40
—
—
—
2
—
130
610
52
834
—
—
*
•
••
: D REAM
: (Gal.)
Dec.i7l93?13
Feb. 26. ids
.WHITE OR il
SEED POTATI
(Pounds1
4,242
0.3$
5,541,31
?]
17
»
21
»
«
m,
—
—
4,204
4,242
2,497,481
378,470
304,338
•1
J
J
J
21
350,31
10,5j
3,541,"31
»
-
J
----------— I
(Prepared by Division of Statistics and Research, Bureau of Customs)
The Commissioner of Customs today announced preliminary
figures for imports of cattle, cream and certified seed potatoes,
lander the quota provisions of the Canadian Trade Agreement, as
of February 26, 1938, and the percentage that such imports bear
to the totals allowable under the quota provisions, as follows:
I
OFFICE OF THE COMMISSIONER OF CUSTOMS
(Sta)
MAR 1 0 1938
TO MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Building)
FROM THE COMMISSIONER OF CUSTOMS:
There is inclosed a tabulation for immediate release showing
preliminary figures for imports of cattle, cream and seed potatoes,
under the quota provisions of the Canadian Trade Agreement, as of
February 26, 1938.
When the release has been mimeographed, please have 125 copies
TREASURY- IEPAïlTMENT
Washington
Press Service
No. 12-67
LRELEASE, MORNING NEWSPAP] :r s ,
Lirsday* March 10, 1938.
pA$8
The Commissioner of Customs- today announced preliminary figures for imports
|of c a t t l e ,
cream and certified seed potatoes, under the quota provisions of the
Canadian Trade Agreement,
as of February 26, 1936, and the percentage that such
inports hear to the totals allowable under the quota provisions, as follows:
Customs District
TOTAL IMPORTS
Per Cent of Q u o t a
pSOM CANADA
Buffalo
Chicago
Dakota
1 Duluth & Superior
! Florida
Maine & N.H.
Massachusetts
Michigan
Minnesota
Montana & Id ah o
New York
St, La wr enc e
Vermont
Virginia
Washington
Total from Canada
:Dec.1,1937 to
:Feb. 26, 1938
:
January 1 to February' 26, 1938
:
:WHITE OR IRISH
DAIRY COWS
CATTLE 700#
: CATTLE
700# OR MORE :CREAM : SEED POTATOES
:UNDER 175#: OR MORE
:(Gal.):
(Pounds)(Head)
(Head)
: (Head)
6,407
12.3#
1,880
—
~
—
-
11,628
7.5 #
.
862
49
649
33
~
3
2
—
7
—
834
4.2#
-
4,242
0.3#
-
-
-
17
-■
40
-r
-
21
-
484
2,899
39
19
28
1
130
610
-
.-
10
6,298
820
5,805
52
834
4,242
96
11
2
2,179
2,431
957
176
5,743
-
-
206
—
3,995
130
67
2
-
4,204
-
3,541,320
7.9#
2,497,480
378,470
304,336
—
200
350,334
10,500
3,541,320
FROM MEXICO
Arizona
SI Paso
San Antonio
San Diego
Total from Mexico
—
109
— oOo—
***
;tt> C . \ t
U
H
f
|
A
m
8"
The number of cases of measles reported to the United States
Public Health Service for the last week of February was
€L£Ha^[.
one and a half times the number reported in the corresponding
weeks of
1934- and 1935> which were the highest measles years of
souu
the past decade. I This high measles incidence is due in part to M
the fact that some of the most populous parts of the United States
are having their measles years simultaneously this year, in part
to better reporting, but in large part to a^real measles epidemier
10 Measles, smallpox, and influenza rate as««weumQgt contagious
diseases, and for only one of the three, smallpox,
-mr
IV
n
i*kJb+ "S
first-class preventivemeasles, however, ‘cori^aXescent serum
offers a real hope.
1
If given within the first few days after
exposure, it should prevent measles in about half the infants
under one year of age who would otherwise get the disease from
being in the same family in which a case of measles has developed.
This is the most dangerous age in which to have measles. / I n older
children a smaller number of the expected cases would be prevented
by the serum.
Thb^5iood of one of the parents of the child, though
not as effective as the serum from some one freshly convalescent
^
from the disease, is of value.
Protection from either source is
short-lived, however, and needs to be renewed if a fresh case
¥ r P
r
develops in the family some weeks later.
&
r/ (i
*¿0 C o k r e $ p $
r
^
^i
c*4*. £
C
tQ'tA t&S
@
:
m, i/
6 y Si~*~
TREASURY DEPARTMENT
U. S. PUBLIC HEALTH SERVICE
MEMORANDUM
date
March 9, 1938,
from :
Assistant Surgeon General Robert Olesen.
to :
Mr* H* E. Gaston, Administrative Assistant to the Secretary.
There is forwarded herewith a press release approved by the
Surgeon General which it is desired to have disseminated as widely as
possible in view of the unusual incidence of measles in the United States.
RO/MMcC
Enel*
Assistant Surgeon General,
Division of Sanitary Reports & Statistics!
TREASURY- DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, March 9, 1938.
Press Service
No. 12-68
The number of cases of noasles reported to the United States Public
Health Service for the last week of February was approximately ono and a half
tines the number reported in the corresponding weeks of 1934 and 1935, which
were the highest measles years of the past decade, Surgeon General Thomas
Parran said today.
This high measles incidence is due in part to the fact that some of the
nost populous parts of the United States are having their measles years simul
taneously this year, in part to Letter reporting, hut in large part to a real
neasles epidemic, according to the Surgeon General.
"Measles, smallpox, and influenza rate as the nation’s most contagious
diseases, and for only one of the three, smallpox, is there first-class preven
tive," Dr. Parran pointed out. "With measles, however, convalescent serum offers
a real hope.
If given within the first few days after exposure, it should pre
vent neasles in about half the infants under one year of ago who would otherwise
get tho disease from being in the same family in which a case of measles has
developed.
This is the most dangerous age in which to have measles.
"In older children a smaller number of tho expected cases would be pre
vented by the serum.
The whole blood of one of the parents of the child, though
not as effective as the serum from some one freshly convalescent from the disease,
is of value.
Protection from either source is short-lived, however, and needs to
le renewed if a fresh case develops in the family some weeks later."
— oOo—
(Note to Correspondents - Public Health Service Statisticians are compiling figures
by Stales, which should be available tomorrow in Room 287, Treasury.)
-IMPORTS OF COMMODITIES FROM THE PHILIPPINES UNDER QUOTA
PROVISIONS OF PHILIPPINE INDEPENDENCE ACT AND CORDAGE ACT OF 1935
Preliminary Figures, as of February 26, 1938
Customs District
TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
Florida
Galveston
Georgia
Hawaii
Los Angeles
Maryland
Massachusetts
Minnesota
New Orleans
New York
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Louis
San Francisco
Virginia
Washington
Wisconsin
r
January 1 to February 26, 1938
*
•■ REFINED : 'UNREFINED
•
*
: 'COCONUT OIL ;
SUGAR
:
SUGAR
:
(Pounds)
: (Pounds) :
(Pounds)
54,143,627
12.1$
6,593,456
5.9$
207,370,175
11.6$
.
1
1,121,362
661,000
12,617,200
4,735,060
30,235,725
2,416,300
2,356,980
mm
2,399,388
1,699,526
—
2,494,542
—
—
2,823
6,725,364
5,793,033
26,531,748
81,677,629
—
68,593,310
mm
—
18,046,268
—
mm
r
:
:
May 1,1937 to
Feb. 26, 193R
CORDAGE ]
(Pounds)
4,000,793
66,7^
172,363
44,466
5,329
8,112
6,157
176,989
411,680
145,256
5,110
930,711
193,419
23,565
428,639
14,769
44,286
1,221,802
28,351
133,927
5,862
(Prepared by Division of Statistics and Research, Bureau of Customs)
I
1
!
!
I
The Commissioner of Customs today announced preliminary
figures for imports of commodities coming into the United States
from the Philippine Islande under the çpiota provisions of the
Philippine Independence Act, during the period January 1 to
February £6, 1938, and under the Cordage Act of 1935, during the
period May 1, 1937, to February 26, 1938, also the percentage
that such imports bear to the totals allowable under the quota
provisions, as follows:
OFFICE OF THE COMMISSIONER OF CUSTOMS
(Sta)
MAR1 ! 1938
TO MR. GASTON
(Attention of Mr. Schwarz, Room 289* Treasury Building)
F R O M THE COMMISSIONER OF CUSTOMS :
There is attached a tabulation for immediate release showing
preliminary figures for imports of commodities coming into the
United States from the Philippine Islands, under the quota pro
visions of the Philippine Independence Act and the Cordage Act of
1935, as of February 26, 1938.
When this tabulation has been mimeographed, please have 90
copies forwarded to Mr. Freeman, Room 415, Washington Building.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, March 10, 1938.
Press Service
No. 12-69
The Commissioner of Customs today announced preliminary figures for imports
of commodities coming into the United States from the Philippine Islands under the
quota provisions of the Philippine Independence Act, during the period January 1
to February 26, 1938, and under the Cordage Act of 1935, during the period May 1,
1937, to February 26, 1938, also the percentage that such imports bear to the
totals allowable under the quota provisions, as follows;
;
•
Customs District
TOTAL IMPORTS
Per Gent of Quota
Chicago
Colorado
Florida
Galveston
Georgia
Hawai i
Los Angeles
Maryl and
Massachusetts
Minnesota
Now Orleans
lew York
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Louis
San Francisco
Virginia
Washington
Wisconsin
January 1 to February 26, 1938
UNREFINED
î REFINED ;
J COCONUT OIL ï
SUGAR
:
SUGAR
:
(Pounds)
(Pounds)
; (Pounds) ;
54,143,627
12.1$
—
—
~
1,121,362
661,000
12,617,200
4,735,060
30,235,725
2,416,300
—
.—
2,356,980
—
—
6,593,456
5.9$
207,370,175
11.6$
—
—
—
or
2,399,388
—
—
—
1,699,526
«
—
—
—
—
_
2,494,542
—
0O0-'
—
—
.—
«
2,823
6,725,364
5,793,033
!—
26,531,748
81,677,629
—
68,593,310
—
_
—
18,046,268
—
—
: May 1, 1937 to
; Feb. 26, 1938
:
CORDAGE
:
(Pounds)
4,000,793
66.7$
172,363
44,466
5,329
8,112
6,157
176,989
411,680
—
145,256
5,110
930,711
193,419
23,565
428,639
14,769
44,286
1,221,802
28,351
133,927
5,862
-
6-
severe in terms of duration of disability.
The average period of dis
ability from automobile accidents (for cases lasting one week or more)
is 55 days, or 11 days longer than that for other accidental causes.
The third most important type of accident recorded in the sur
vey is the injury from a cutting or piercing instrument.
8
percent of all accidents occur.
By this means,
Poisoning is another well-known result
of carelessness, as is shown in the report which attributes U.5 percent
of the annual accident score to this means.
Ait ■MiiiucxxEig g a s ,
i i o .xj . o u s
Lack 'BT "g’gye 1ir"handling -
suustances.
injuries o y mach
inery account for 3 percent of all accidents, and it is interesting to
note that 7 0 percent of such injuries occur in occupational situations,
and one-fourth of them in the home.
In connection with these types
of accidents, as indeed with all types, it should be remembered that only
injuries serious enough to disable the sufferer one week or longer are
recorded.
The present report from the National Health Survey is a pre
liminary analysis of the accident data assembled and is largely con
cerned with the accident experience in(S^bities of the Si included in
the Survey*
More thorough analyses of these problems are in progress
and will be released as completed, thus adding more needed information
for effective work in the prevention of accidents.
on impairments will be issued at an early date.
A special report
ulation is in the group under 1 5 years and the highest for people over
65.
Under the age of 1 5 , the rate is only 1 2 . 5 per 1 * 0 0 0 despite the
venturesome spirit of childhood, while for the oldest age group the
rate is 3 1 * 6 per 1 ,0 0 0 .
\
Viable -¿o
f5x£S~C-J
Boys and men are much moreNpi»o » t ^ e accidental injury than are
girls and women, the report states, pntil the age group above
is encountered.
65
years
Then the situation is reversed and women become the
most frequent victims of serious mishaps.
The greater incidence of ac
cidents among young men and boys refledts the greater risk assumed by
them in sport and in occupation.
The female population, however, receives a greater number of
domestic injuries— home accidents occurring among women at the rate of
I
6*1 per 1,000 and among men,^((P*per 1,000.
After the age of 25 the
home accident rate for women mounts sharply reaching a peak in the
group over 65 with a rate of 21,7 per 1,000 as compared with 8.2 for
men.
Important Types of Accidents
The greatest single source of accidental injury is the fall,
which is credited with 39 percent of all the seriously disabling acci
dents.
Falls are an even greater menace at present than automobiles
which are responsible for 20 percent of the nation’s yearly accident toll
Automobile accidents are of paramount importance, not only be
cause they are increasing rapidly, but because of their serious conse
quences.
When fatality is considered, the automobile leads all other
causes of accidental death.
Persons injured in automobile accidents are
two and one-half times as likely to die as persons injured by any other
means.
Moreover, the non-fatal automobile accident is apt to be more
The Importance of Home Accidents
Home accidents account for U 5 percent of all injuries from
falls, for
HS
percent of those from cutting and piercing instruments,
and for a high 7 2 percent of serious b u r n s ^ Then tlienrinsr"'lïuü umbfregu,
Thirty-five percent of all injuries attributed to attack ty
animals occurred in the home.
The «unloaded« pistol continues a home-
hazard, too, for the report attributes one-fourth of all accidental in
juries by firearms to those occurring within the home*
The National Health Survey also brings to light another signif
icant fact in regard to home accidents.
Members of families on relief
and of families with incomes under $1,000 experienced a higher home acci
dent rate than did those in the higher income brackets.
Persons in fami
lies on relief, in fact, had an accident rate U3 percent in excess of that
for their well-to-do neighbors with incomes of $3,000 and over.
The re
port associates the higher rate of accidents in the homes of the very poor
with inadequate housing conditions— as the greater state of disrepair of
their dwellings, stairways ill designed and constructed, inadequate light
ing and heating facilities and rickety furniture, likely to collapse in
use.
Such hazards present another problem involving the health and safety
of the nation's poorest people.
This report establishes those in the
lower third income group, who have already been named the first victims
of disease^as first victims of accidents in their homes.
Who Experiences Accidental Injury?
The risk of serious injury from accidents of all kinds advances
steadily with age.
This is attributed to the increased exposure of adults
to occupational and transportation accidents, and to the fact that acci
dents which would cause little or no disability in youth may result in
serious injury to older people.
The lowest accident rate per 1,000 pop-
- 3 -
Maiming accidents occur most frequently in the course of
work, the report states, since
"JO percent
of the lost fingers, and ^5
percent of the loss of other members were attributed to occupational
casualties.
For impaired members, however, home accidents were a
cause of equal importance with industrial accidents.
Wheue Accidents Occur
The risk of accidental injury is everywhere present, the
report finds, and whether one is working, staying at home, or ventur-
p c ss rfc f h l'$y ° f
^)
ing onto the streets, he is exposed t o ^ m c u ? r ing a sertous injury.
Home is far from being the safe place it is usually considered, for
30 percent of all accidents occur there.
It is true tfirif tlni ■«)!
occur in public places,
kl
percent
nt to note that certain types of^hcA
cidents, such as falls, burns, and cuts occur much more frequently in
the home than elsewhere.
Occupational mishaps accounted for only 2 3 percent of all
accidents during the survey year (1935**3^) •
The relatively low pro
portion of occupational accidents reflects in part the low level of em
ployment which existed at the time of the survey, and in part the ef
fectiveness of safety methods adopted in industrial plants during de
cent years.
The principal efforts, in the past, of governmental and other
bodies interested in accident prevention have been devoted to reducing
the hazards of occupation and of public and private transportation,
fhilel
not minimizing the seriousness of accidents in these fields as a cause of
disability, this report puts particular emphasis on the frequency and
severity of home accidents.
2
information available, the United States Public Health Service adds
the experience of a large, representative group of the population.
Noteworthy among the accident facts elicited by the Surveyare data on non-fatal accidents, hitherto not available for the general
population,
Two important phases of accidental injuries have been
studied, namely,
(l) the duration of disability from non-fatal accidents
and (2) the prevalence of permanent physical impairments resulting from
accidental injury.
It is shown that the average period of disability
experienced by the victims of serious accidents is U6 days.
be compared with the average duration
which is 57 days.
ofrdisability
This may
from all causes
Only conditions disabling one week or longer are
considered in computing these averages*
Automobile accidents cause
disabilities lasting an average of 55 days.
Accidents in the home re
sult in an average of ^-6 days disability and for occupational accidents
the average is
$0
days.
Accidents in public places cause an average
of 39 days duration.
Results of the National Health Survey as to the prevalence
of permanent physical impairments due to accidents are of particular
interest because there is little information available in this field
concerning the general population.
The figures present a picture of
the total permanent effect of accidental injury over the entire life
time of the surveyed population, both disabling and non-disabling im
pairments having been recorded.
In the cities s u r v e y e d e v e r y
1,000 persons were found to be to some degree crippled as the result of
accidents occurring some time during their lives.
Fifty percent of these
conditions were due to occupational accidents, 2 5 percent to home acci
dents, 1 5 percent to injiiries, other than by motor vehicles, received
in public places, and 10 percent to automobile accidents.
N* H. S-Accidents
$QP
TREASURY DEPARTMENT
U* S* Public Health Service
Washington
M or n i*v
FOR RELEASE, ^ N E W S P A P E R S ,
Sunday, March 13» 1933.
Ten million accidents serious enough to disable their victims
one day or longer occur annually in the United States— 30,000 daily*
Each
day, 500,000 persons in the United States are unable to work, go to school
or pursue other usual activities as the result of injuries caused by ac
cidents.
Such are the estimates made public today by the United States
Public Health Service from information gathered during the National
Health Survey of 1935-36*
Sixteenvasât of every 1,000 persons açe disabled for a week or
longer by accidents each year.
Accidents a c c o i m ^ d for^^#r^ercent of
the total days of disability from all causes.
(The estimated total
of disability for the country as a whole, according to earlier reports
from the National Health Survey, is one and one-quarter billion days
annually.)
Ae one "gf* the pràwe&pul catEbWVJMWatft,
iiiif i— rtmirmwiimm.
JPeui llTl^ong
the 7 ^0 ,0 0 0 families canvassed in the Survay^Mft Percen^
j i u -.-,
-
r
" a n111 i'h1 a" ’||irr. "**'"*■ "" ® r - , . ~ n w w i M r ^
all deathsW epartee^.beintg the result of accidental injury.
f
^
Deaths from
accidents were exceeded only by deaths from diseases of the heart, can
cer and pneumonia*
The contribution of the National Health Survey toward the sol
ution of the nation's ever-increasing problem of accident prevention is
vo provide a clearer knowledge of where and under what circumstances acA
cidents occur, which types of accidents are most important, and what
groups of the population are the chief victims.
To the rather meager
TREASURY DEPARTMENT
U. S. Public Health Service
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Press Service
No. lJL~70
Sunday» March 13, 1938.
3/11738
Ten million accidents serious enough to disable their victims one day
or longer occur annually in the United States— 30,000 daily.
Each day,
500,000 persons in the United States are unable to work, go to school or pur
sue other usual activities as the result of injuries caused by accidents.
Such are the estimates made public today by the United States Public Health
Service from information gathered during the National Health Survey of 1935-36.
Sixteen of every 1,000 persons are disabled for a week or longer by
accidents each year.
Accidents accounted for approximately 8 per cent of the
total days of disability from all causes.
('The estimated total of disability
for the country as a whole, according to earlier reports from the National
Health Survey, is one and one-quarter billion days annually.)
Seven per cent of all deaths among the 740,000 families canvassed in
the Survey were the result of accidental injury.
Deaths from accidents were
exceeded only by deaths from diseases of the heart, cancer and pneumonia.
The contribution of the National Health Survey toward the solution of
the nation*s ever-increasing problem of accident prevention is the effort to
provide a clearer knowledge of where and under what circumstances accidents
occur, which types of accidents are most important, and what groups of the
population are the chief victims.
To the rather meager information available,
the United States Public Health Service adds the experience of a large, repre
sentative group of the population,
Noteworthy among the accident facts elicited by the Survey are data on
non-fatal accidents, hitherto not available for the general population.
Two
important phases of accidental injuries have been studied, namely, (l) the
duration of disability from non-fatal accidents, and (2) the prevalence of
permanent physical impairments resulting from accidental injury.
It is shown
that the average period of disability experienced by the victims of serious
accidents is 46 days.
This may be compared with the average duration of
disability from all causes which is 57 days.
Only conditions disabling one
week or longer are considered in computing these averages.
dents cause disabilities lasting an average of 55 days.
Automobile acci
Accidents in the home
result in an average of 46 days disability and. for occupational accidents the
average is 50 days.
Accidents in public places cause an average of 39 days
duration.
Results of the National Health Survey as to the prevalence of permanent
physical impairments due to accidents are of particular interest because there
is little information available in this field concerning the general population.
The figures pr-esent a picture of the total permanent effect of accidental in
jury over the entire lifetime of the surveyed population, both disabling and
non-disabling impairments having been recorded.
In the cities surveyed, twelve
of every 1,000 persons,were found to be to some degree crippled as the result
of accidents occurring some time during their lives.
Fifty per cent of these
conditions were due to occupational accidents, 25 per cent to home accidents,
15 per cent to injuries, other than by motor vehicles, received in public
places, and 10 per cent to automobile accidents.
Maiming accidents occur most frequently in the course of work, the re
port states, since 70 per cent of the lost fingers, and 45 per cent of the
loss of other members were attributed to occupational casualties.
For impaired
members,. however, home accidents were a cause of equal importance with indus
trial accidents.
3
Where Accidents Occur
The risk of accidental injury is everywhere present, the report finds,
and whether one is working, staying at hone, or venturing onto the streets,
he is exposed to the possibility of incurring a serious injury.
Hone is far
from being the safe place it is usually considered, for 30 per cent of all
accidents occur there.
It is true that nore accidents occur in public places,
41 per cent of the total, in fact.
However, it is important to note that
certain types of serious accidents, such as falls, burns, and cuts occur
much nore frequently in the hone than elsewhere.
Occupational mishaps accounted for only 23 per cent of all accidents
during the survey year (1935-36).
The relatively low proportion of occupa
tional accidents reflects in part the low level of employment which existed at
the tine of the survey, and in part the effectiveness of safety methods adopted
in industrial plants during recent years.
The principal efforts, in the past, of governmental, and other bodies in
terested in accident prevention have been devoted to inducing the hazards of
occupation and of public and private transportation.
While not minimizing the
seriousness of accidents in these fields as a cause of disability, this report
puts particular emphasis on the frequency and severity of home accidents.
The Importance of Hone Accidents
Home accidents account for 45 per cent of all injuries from falls, for
48 per cent of those from cutting and piercing instruments, and for a high 72
por cent of serious burns.
Thirty-five per cent of all injuries attributed to
attack by animals occurred in the home.
The ’’unloaded11 pistol continues a
home-hazard, too, for the report attributes ouie-fourth of all accidental in
juries by firearms to those occurring within the home.
4 -
The National Health Survey also "brings to light another significant fact
in regard to hone accidents.
Members of families on relief and of families
with incomes under $1,000 experienced a higher home accident rate than did those
in the higher income brackets.
Persons in families on relief, in fact, had an
accident rate 43 per cent in excess of that for their well-to-do neighbors
with incomes of $3,000 and over.
The report associates the higher rate of
accidents in the homes of the very poor with inadequate housing conditions—
as the greater state of disrepair of their dwellings, stairways ill designed
and constructed, inadequate lighting and heating facilities and rickety fur
niture, likely to collapse in use*
Such hazards present another problem in
volving the health and safety of the nation’s poorest people.
This report
establishes those in the lower third income group, who have already been named
the first victims of disease, as first victims of accidents in their homes*
Who Experiences Accidental Injury?
The risk of serious injury from accidents of all kinds advances steadily
with age.
This is attributed to the increased exposure of adults to occupation
al and transportation accidents, and to the fact that accidents which would
cause little or no disability in youth may result in serious injury to older
people.
The lowest accident rate per 1,000 population is in the group under
15 years and the highest for people over 65,
Under the age, of 15, the rate is
only 12.5 per 1,000 despite the venturesome spirit of childhood, while for the
oldest age group the rate is 31,6 per 1,000.
Boys and men are much more liable to suffer accidental injury than are
girls and women, the report states, until the age group above 65 years is en
countered.
Then the situation is reversed and women become the most frequent
victims of serious mishaps.
The greater incidence of accidents among young men
- 5 -
and "boys reflects the greater risk assumed by then in sport and in occupation.
The female population* however, receives a greater number of domestic
injuries— hone accidents occurring among women at the rate of 6.1 per 1,000 and
anong nen’
i 4.3 per 1,000»
After the age of 25 the hone accident rate for
women mounts sharply reaching a peak in the group over 65 with a rate of 21.7
per 1,000 as compared with 8,2 for men.
Important Types of Accidents
The greatest single source of accidental injury is the fall, which is
credited with 39 per cent of all the seriously disabling accidents.
Falls are
an even greater menace at xoresent than automobiles which are responsible for 20
per cent of the nation’s yearly accident toll.
Automobile accidents are of paramount importance, not only because they
are increasing rapidly, but because of their serious consequences.
When fatal
ity is considered, the automobile leads all other causes of accidental death.
Persons injured in automobile accidents are two and one-half times as likely
to die as persons injured by any other means.
Moreover, the non-fatal automo
bile accident is apt to be more severe in terns of duration of disability.
The
average period of disability from automobile accidents (for cases lasting one
week or more) is 55 days, or 11 days longer than that for other accidental causes.
The third most important type of accident recorded in the survey is the
injury from a cutting cr piercing instrument.
accidents occur.
By this means, 8 per cent of all
Poisoning is another well-known result of carelessness, as is
shown in the report which attributes 4.5 per cent of the annual accident score to
this means.
Injuries by machinery account for 3 per cent of all accidents, and
is interesting to note than 70 per cent of such injuries occur in occupational
— 6 —
situations, and one-fourth of then in the home.'
In connection with these types
of accidents, as indeed with all types, it should he remembered that only in
juries serious enough to disable the sufferer one v/eek or longer are recorded.
The present report from the National Health Survey is a preliminary analy
sis of the accident data assembled and is largely concerned with the accident ex
perience in 8 cities of the 81 included in the Survey.
More thorough analyses
of these problems are in progress and will be released as completed, thus adding
more needed information for effective Y/ork in the prevention of aocidents.
special report on impairments will be issued at an early date.
— oOo—
A
I
TRSA3ÜRY D R P à H T M F ?
Washington
TOH im S D J A T S HMUSB,
Friday, March 11, 1938
Fr*« s SartieJ
Secretary of the treasury Mergenthau today announced that reporte
from thè Federai Heserte banks in d icate that #450,646,900 o f Treasury Notes
o f S erlee 0*1938, maturing March 15, 1938, bare been exehanged for 2*1/2 percent Treasury Bende o f 1948*
Subscriptions and a H ot menta «ere dividsd among thè aererai Federai
Rsasrve d ie tr lc ts and thè Tre a sury as fo llo n e}
Federai Heserte
D istr ic t
Boston
Hew York
Philadelphia
Cleveland
Richmond
A tlanta
Chicago
St* Louis
M inneapolis
Kansas City
D allas
San Francisco
Treasury
Total
Total Subscriptions
Received and A llo tted
$ 12,354,600
516,408,700
3,788,900
7,600,400
11,759,000
6 ,110,000
53.678.100
6,574,200
10,288,800
15.377.100
2,542,500
5,456,100
KJ W
708,500
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, March 11, 1938
Press Service
No. 12-71
Secretary of the Treasury Morgenthau today announced that reports from
the federal Reserve hanks indicate that $450,646,900 of Treasury Notes of
Series C—1938, maturing March 15, 1938, have been exchanged for 2-l/2 percent
Treasury Bonds of 1948.
Subscriptions and allotments were divided among the several federal
Reserve districts and the Treasury as follows:
federal Reserve
District
Total Subscriptions
Receivod and Allotted
Boston
New York
Philadelphia
Cleveland
Ri chmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San franc is co
Treasury
Total
$
oOo—
12,354,600
316,408,700
3,788,900
7,600,400
11,759,000
6,110,000
53.678.100
6,574,200
10,288,800
15.377.100
2,542,500
3,456,100
708,500
450,646,900
toreh 10,1988
Mr# M agill
COE
Phone c a ll
fro m
Congressman Bruce Bsa■ion*« o f fio » (Ml»« Hornstsln.gecg
fhc secretary has now learned Just what Mr* Barton m t requesting
several d^rs age alie« you talk ed w ith her#
Individual income ta x * 198®
(1) th e n et ca p ita l gains by net ineome c la sse s in o c í e t e
form and segregated ex a ctly as indicated in fa b le $ o f
« S ta tistic s o f Income for *35, prelim inary report*
$ (S )!e t ca p ita l lo s s e s by » a t inoome c la sse s compiled id en tical
to ta b le So#3
(3) Dividends on stock o f domestic corporations by n et income
c la sse s - sim ilar to ta b le Mo«3
In other words,*fche sane inform ation t h is year a s giren in pamphlet
fo r la s t year#**
Mlse B ernstein would lik e me to c a ll back and t e l l her when she
can here t h is fo r th e Congressmen, * or whet they can tore*
«rt« K B u »
tmmmi
ftfíHhOJít'rfOffff
oolt^oB a aOflÎÏ
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téb m à i''w m iù t to mMÈf^w^ÊÊ #Ntël
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YssAstssr m P A m m x
Washington
FOB RKLüASB
Pross Service
Seeretary of the Treasary Ifcrgeatfcau ©ade publle today the second of
serles of tabulations fron the prelliainary report, Statist! es of Income,
covering the individual ineo»e tax returas for 1936 filed im the perlod
January through August, 193V, prspared under the dlreotlon of Coiamisslceier
of Internal Revenue G«y T. Belvering.
The report «Ul he released at a
later dato«
The folioeilig table presents, for individual incoiae tax returas for
1936, the sources of income and deductions, by net ineorae blasses.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING-NEWSPAPERS,
Monday, March 14, 1938.________
3-12-38
Press Service
No. 12-72
Secretary of the Treasury Morgenthau made public today the second of a
series of tabulations from the preliminary report, Statistics of Income, cover
ing the individual income tax returns for 1936 filed in the period January
through August, 1937, prepared under the direction of Commissioner of Internal
Revenue Guy T. Helvering.
The report will be released at a later date.
The following table presents, for individual income tax returns for
1936, the sources of income and deductions, by net income classes:
Sources of income and deductions, individual returns for 19 3 6 , ly ne^ income classes
(Net income classes and money figures in thousands of dollars)
(Returns filed in period January through August 1937)
Net income classes
Number of
returns
Under 5 (€stimated)
Salaries, î
wages, com-: Business
missions, î prof it
fees, etc. :
Net
[Partnership]
cap ital
. profit
gain
if
:
2/
Sources of income
: Dividends : Income
:on stock of : from
. Rents
:domestic and:
f iduci[ and
aries
[royalties :foreign cor-:
: porat ions :
11
:
3/
1
4 .795.573
8 ,013,158
1 ,422,102
210,298
176,559
395.452
682,009
151,033
Deductions
; Taxable :
.interest on.
[ Other
] partially ] Other
* tax-exempt* taxable ] income
: Government: interest *
2/
•obligations*
469,349 8/ 129,073
[
Total
income
Business
loss
;
Partner
ship
loss
il I I
Net
capital
loss
2/
Interest | Taxes
paid
paid
6/
;
6/
Other
. Total
Contr ibudeductions. deductions
tions
Net
income
1 1 ,649,033
33,285
9,360
70,947
257,256
371,C49
l88,698
362,226
1 ,292,821
10 ,356,212
5 -
1 0 ...
417.724
1 ,553.777
526,093
208,482
159,368
111,75 1
403,278
115,306
11,358
143,481
35,617
3,268,510
12,219
3,707
27,535
101,226
108,297
53,058
120,237
426,279
2,842,231
10 -
2 5 ...
175,164
1 ,091,761
320,027
235,854
233.647
86,303
653,699
176,797
14,530
148,719
31.557
2,992,894
12,037
3,626
22,379
84,004
101,340
47,193
115,527
386,106
2,606.789
25 -
50
40,782
419.196
99,358
142,371
162,399
38,686
498,558
133,109
8,759
75.431
16,317
1 ,594.184
7,752
2,131
7,718
40,588
55,307
28,991
63,374
205,861
1,388 322
50 -
1 0 0 ...
13.505
202,474
38,673
96,129
113.939
20,709
410,705
106,110
4,825
43,539
10,629
1 ,047,734
5,221
1,055
3.275
25,350
39.486
24,739
42,763
141,890
905,845
100 -
1 5 0 ...
2,588
54.511
8,412
33.585
41,081
4.614
163,506
38,823
1,7 5 1
11,839
2,495
360,617
2,385
450
728
8,055
13,881
10,864
15,186
51.548
309,069
150 -
300 .....
36,705
8,241
37,680
39,880
3,612
l8l,08l
45.637
1,118
10,742
3,241
367,936
1,954
1,264
469
12,222
I54 24
13,127
17,182
61,643
306,293
1,535
t
0
0
cr\
5 0 0 ...
330
8,713
552
14.750
13,817
1,474
83,878
18,433
510
2,897
1,18 5
146,208
539
I
108
3,217
4,943
6,257
6,573
21,685
124,523
500 - 1 000 ...
177
3.366
1,085
6,992
17,575
513
86,452
26,259
168
2,674
250
145.332
1,042
59
79
3.843
5.561
7.369
5,166
23,120
122,213
1,000 and over ....
61
1,423
1,296
1,199
17,055
81,717
25,462
27
1,861
742
130,835
148 4
14
32
1,8 14
4,820
7.845
7,184
23,194
107,641
1 52
5 ,447.439
1 1 ,385,085
2.425.839
987,340
975,319
663*166
3,244,884
836,968
43,045
910,532
231,107
2 1,703,285
77,919
21,713
133,271
537.576
720,107
388,142
755.420
2 ,634,147
1 9 ,069,138
Total ...
and
fiduciaries on stock of domestic corporations subject to taxation under Title I of the varioiis Revenue Acts were tabulated under "dividends", while dividends on stocic oi roreign corporations (other
than those deriving more than half their gross income from spurces in the United States) and, except in 1932-33* dividends on stock of domestic corporations not subject to taxation tinder Title I
of the various Revenue Acts,,-were left in income from partnerdi ips and fiduciaries.
2]
Jor definition of
3/
"Dividends" include those on stock of both domestic and foreign corporations, excluding dividends received b y partnerships and fiduciaries.
In former years, this item included only dividends on stock
of domestic corporations subject to taxation under Title 1 of the various Revende Acts, and until 1934» the dividends of foreign corporations deriving more than half their gross income from sources
within the United States, whether or not received direct or b y partnerships jg^j^iduciaries.
Aj
Interest received on United States Savings Bonds and Treasury Bonds, owned in exces^ of $5,000, and on obligations of certain instrumentalities of the United States, is subject to surtax if the
surtax net income is over $4,000.
5/
Excludes dividends received on stock of domestic corporations not subject to taxation under Title I of the Revenue Act of 1936 and on stock of foreign corporations.
In former years, dividends received from these
two types of corporations were tabulated as "other income", except insofar as included in partnership and fiduciary income, and until 1934 except insofar as received from foreign corporations
deriving more than half their gross income from sources within the United Stated. Seq footnotes 1 and 3 *
6/
Excludes amounts reported in schedules A and B as business deductions.
2f
Taxable interest received on partially tax-exempt Government obligations, reported on returns with net income under $5,000, is tabulated with "other taxable interest".
8j
Includes taxable interest received on partially tax-exempt Government obligations reported on returns with net income under $5,000.
Capital assets and amounts of net capital gain and loss taken int<j> account for tax purposes, see Section 117 of the Revenue Act of 193&*
T&%â8 t m
d &p a i s m b t
w m a m m m
w m m o wm&Pàmm9
fob
&*** s e m e #
fueedar» MOTfc, Ift» lû t» .
|
X
- *f 3 ■
3/14/38
Secretary ?áorg©ntb&u announced last evening that the tenders for
two series of Treasury hills» to be dated March Id» 1956» which were offered
on March 11» were opened at the federai leeerve fcaafce
m
March 14*
Traders were invited for the two eorlos to tho aggregate aaount of
#100»000»000» or thereabout e» and #56*»060»000 was applied for» of which
#100»653»000 was accepted*
the details of the two series (each for #50,000»000
or thereabouts) sre as follows 8
n-o&Y T m m w f
mxs«
Total Applied for *
Total accepted
#604,661,000
50,608,000
Benges
High
low
Average price
69*990
99*986
99*9824
*
mattono
yv m is, iosa
Brairaient rate approximately 0*040 percent
*
*
«
0*0*1
*
*
•
•
0.070
*
(86 percent of the amount hid for at the low price was accepted)
95- day
TOASomr Buis* tut mxm
Total applied for Total aecepted
»
#166,559,000
50,065,000
Ranges
tu**
Low
Average
99.996
99.980
99.988
prie*
«
-
hot i **
itss
'.äquivalent rate approjcliiiateljr 0.010 pereent
»
•
"
0.099
•
*
"
0.068
(08 percent ef the aaooBt bid for at the low prie* was accepted)
S - v K í m 4f? V SwiLlA ,
TREASURY- DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Pross Service
No. 12-73
Tuesday, March 15, 1938.
3/14/38
Secretary Morgenthau announced last evening that the tenders for two series
of Treasury hills, to he dated March 15, 1938, which were offered on March 11,
wore opened at the Federal Reserve hanks on March 14.
Tenders were invited for the two' scries to the aggregate amount of
$100,000,000, or thereabouts, and $327,020,000 was applied for, of which
$100,233,000 was acc epted.
The details of the two scries (each for $50,000,000,
or thereabouts) are as follows!
91-DAY TREASURY BILLS, MATURING JUNE 15, 1938
Total applied for
Total accepted
- $204,681,000
50,208,000
Range:
High
Low
Average price
- 99.990
- 99.982
- 99.9824
Equivalent rate approximately 0.040 percent
it
»
0.071
«
H
I
T
'
»
0.070
H
»
(88 percent of the amount hid for at the low price was accepted)
93-DAY TREASURY BILLS, MATURING JUNE 17, 1938
Total applied for
Total accepted
Range:
High
Low
Average price
$122,339,000
50,025,000
- 99.996
- 99.980
- 99.982
Equivalent rate approximately 0.015 percent
,l
n
11
0.077
0
11
*
"
0.068
11
(52 percent of the amount hid for at the low price was accepted)
— oOo—
TREASUR Y D EPARTM ENT
OFFICE OF THE SECRETARY
C O M M IS S IO N E R
WASHINGTON
OF
A C C O U N TS A N D D E P O S I T S
March 8, 1938«
TO MR« GASTON:
During the month of February, 1938, the fol
lowing market transactions took place in Government
securities:
Total sales ••••••••*
$ 4,001,000
Total purchases ••••«
1,000,000
Net sales
$ 3,001,000
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Tuesday, March 15, 1938.
Press Service
No. 12-74
Market transactions in Government securities for Treasury investment
accounts in February, 1938, résulta!in not sales of $3,001,000, Secretary
Morgenthau announced today.
oOo—
TREASURY DEPARTMENT
Washington
FOE IMMEDIATE RELEASE,
Wednesday, March 16, 1938.
Press Service
No. 12-75
Commissioner of Internal Revenue Guy T. Helvering today announced income
tax collections deposited by collectors amounted to $439,307,999.95 for the
period March 1-15, 1938, inclusive.
In the comparable period of a year ago,
March 1-15, 1937, inclusive, deposits of income tax collections were
$381,512,457,12.
Collections on hand but undeposited wore estimated at
$176,639,71 8.44, compared to $139,381,126.45 the same date a year ago.
Total collections,deposited and on hand, were estimated at $615,947,718.39,
as compared to $520,893,583.57 for the same period of last year.
By collection districts the deposits of collections, for the two periods,
as shown by telegraphic reports from collectors, were as follows:
D is tric ts
Alabama
Arizona
Arkansas
1st C a l i f o r n i a
6th C a l i f o r n i a
Colorado
C onnecticut
Delaware
F lo rid a
Georgia
Hawaii
Idaho
1st I l l i n o i s
8th I l l i n o i s
Indiana
Iowa
Kansas
Kentucky
D ouisiana
Maine
M aryland, i n c l u d i n g
D i s t r i c t o f C o lu m b ia
M a ssa c h u se tts
M ichigan
M innesota
D e p o s i te d
M arch 1 - 1 5 , 1937
$
6 8 8 ,8 2 5 .8 2
4 9 8 ,0 3 3 .7 1
7 5 8 ,6 6 2 .7 9
1 0 ,2 4 1 ,1 3 9 .2 0
8 ,1 9 1 ,9 1 6 .9 1
2 ,3 5 5 ,8 4 1 .0 1
1 3 ,0 8 4 ,4 6 8 .7 6
4 ,1 7 7 ,9 6 1 .4 1
2 ,4 9 2 ,4 6 7 .5 6
2 ,5 5 7 ,9 0 3 .4 3
2 ,1 9 2 ,5 4 4 .7 5
5 2 7 ,0 1 3 .5 0
3 0 ,6 6 5 ,9 5 5 .7 0
3 ,6 1 4 ,4 6 5 .1 6
6 ,3 5 1 ,4 9 9 .4 3
1 ,4 0 4 ,9 9 0 .7 0
2 ,2 7 2 ,8 4 9 .7 5
1 ,6 8 5 ,1 4 2 .0 5
1 ,6 8 8 ,7 0 0 .5 6
1 ,8 6 4 ,1 9 4 .3 2
1 1 ,7 0 3 ,9 5 4 .0 8
9 ,3 7 2 ,8 5 2 .1 2
5 ,6 4 3 ,5 4 6 .3 6
5 ,2 9 5 ,2 4 5 .0 0
D e p o s i te d
M arch 1 - 1 5 , 1938
$
1 ,1 7 4 ,7 1 8 .9 5
5 9 5 ,2 5 1 .2 5
8 9 0 ,1 8 6 .0 1
1 1 ,5 8 3 ,6 3 9 .9 7
1 1 ,1 5 2 ,6 6 4 .5 7
2 ,3 1 7 ,5 8 6 .6 7
1 3 ,7 5 1 ,3 5 1 .6 0
1 1 ,7 4 5 ,6 6 5 .4 2
7 ,1 1 8 ,7 6 1 .4 0
2 ,7 9 4 ,2 5 1 .0 8
2 ,3 0 0 ,0 5 7 .2 1
6 2 3 ,7 3 9 .6 4
3 7 ,1 0 8 ,3 3 3 .5 7
3 ,0 6 7 ,1 7 2 .3 1
6 ,6 8 8 ,8 8 9 .6 5
1 ,6 0 6 ,3 0 2 ,0 3
1 ,6 9 6 ,1 8 8 .3 3
1 ,7 9 5 ,1 9 4 .2 8
2 ,5 8 1 ,7 7 7 .0 7
2 ,1 2 6 ,9 7 8 .9 0
1 2 ,1 6 7 ,0 7 4 .3 0
9 ,4 4 2 ,6 1 9 .5 7
7 ,3 4 6 ,0 9 0 .4 5
5 ,1 0 8 ,6 3 3 .0 0
-
2
-
Continued
Districts
Mississippi
1st Mi ssouri
6th Missouri
Montana
Nebraska
Nevada
New Hampshire
1st New Jersey
5th New Jersey
New Mexico
1st Now York
3d New York
3d New York
14th New York
21st New York
28th New York
North Carolina
North Dakota
1st Ohio
10th Ohio
11th Ohio
18th Ohio
Oklahoma
Oregon
1st Pennsylvania
12th Pennsylvania
23d Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
1st Texas
2d Texas
Utah
Vermont
Virginia
Washington, including
Alaska
West Virginia
Wisconsin
Wyoming
TOTAL
Deposited
March 1-15, 1937
Deposited
March 1-15, 1938
$
$
795,167,81
6,683,839,13
1,326,644,57
799,667,05
1,262,859.72
777,541,77
1,205,018,98
3,754,037,00
15,652,046.76
313,662,75
9,647,976.00
64,754,710.69
28,713,280,88
9,369,258.61
2,578,469.21
6,575,928.93
1,617,487.94
169,020.92
5,777,731.85
2,405,081.46
2,132,438.23
14,001,361.07
2,573,001.95
917,299.63
15,477,814.94
2,518,157.09
18,012,911.15
2,048,477.98
1,027,196.62
162,723.91
2,649,410.99
9,042,407.94
3,962,647.72
557,280,60
502,497.61
3,592,002.45
953,312.94
9,318,227.26
1,357,041.19
687,159.72
1,351,815.27
864,525.65
1,297,515.92
3,330,515.92
15,947,506,75
384,759,69
10,226,033.00
69,760,629.61
38,275,834.24
9,992,043,75
2» ¿55,124.54
6,276,838.91
2,718,545.89
175,332,65
6,403,535,43
2,946,399.91
2,137,870.35
15,901,824.83
2,257,791,07
869,222.25
15,990,729.73
1,840,863.00
23,776,019.84
2,975,910.75
1,459,774,82
149,955.97
1,842,313.41
6,287,060.14
7,101,222.85
656,937.30
629,469.71
4,957,717.60
2,112,747.19
2,845,268.15
3,509,226.72
357,979.07
2,370,298.84
2,637,635.75
3,718,331.28
340,424.99
$ 381,512,457.12
$ 439,307,999.95
— -cOo—
sasa»
vw
Washington
FOR RKLEA3S, M U M RSWSPAPBH3
Tu.sday, tlareb 22, 1938.
^**•98 Serrte
} X -1 6
¡jTSI'/Íb ------- “ *-------------
Seeretary Morgentfaau announced last evening that «ti« tandera for
two serias of Treaeery » U l ,
m
to be datad üireh 88, 1938, «Hieb wäre öftere
Mareb 18, wer« o penad at tbe Federal Besarte beulte oa Mareb 81.
Twadere wer» inTited for tbe two series te tbe aggregate amount of
#150,000,000, er tbareaboats, and #860,605,000 was applied for, ©f whieb
#180,381,000 m i
aeeepted.
Tbe detalle of tbe two series {tbe 86-day billa
for #50,000,000, er tbereabouts, and tbe 91*day billa fbr #100,000,000, or
tbereabouts) are as fbllows:
86*m,T TBJUSÜHT B l U S * Ä4TUBXHS 30fTg lf t 1938
Total applied for *
Total aoeepted
•
#118,869,000
50,099,000
Sa&ge of aoeepted bidet (Bxeepting ose bid of |39,000)
Higb
99.993 Squlvalant rate approximately 0*089 per cent
lem
m
99*988
•
*
*
0*06?
*
Average priee
*
99*986
»
*
«
0*059
*
(91 pereeat ©f tbe astoa&t bid for at «be leer priee was aeeepted)
91-d a t T m A s m r m i ß , m m m m
Total applied for
Total aeeepted
Bange of aeeepted bidet
Higb
lew
*
Average priee
♦
m m
%a. itss
#848,186,000
100 ,888,000
99*996
99.988
99.983
Squivalent rate approxioately 0*088 pereent
»
*
*
o.OTl
*
•
*
*
0.067
«
(90 pereent of tbe amount bid for at 11» low priee was aeeepted)
TREASURY DEPARTMENT
t Washington
fOR RELEASE, MORNING NEWSPAPERS,
Tuesday, March 22, 1938.
3/21/38
Press Service
No. 12-76
Secretary Morgenthau announced last evenihg that the tenders for two
series of Treasury hills, to he dated March 23, 1938, which were offered on
March 18, were opened at the Eederal Reserve hanks on March 21.
Tenders were invited for the two series to the aggregate amount of
$150,000,000, or thereabouts, and $360,695,000 was applied for, of which
$150,381,000 was accepted.
The details of the two series (the 86-day hills
for $50,000,000, or thereabouts, and the 91-day hills for $100,000,000, or
thereabouts) are as follows:
86-DAY TREASURY BILLS, MATURING JUNE 17, 1938
Total applied for Total accepted
-
$118,569,000
50,099,000
Range of accepted bids: (Excepting one hid of $39,000)
High
99.993 Equivalent rate approximately 0.029 percent
Low
~
99.984
*
11
11 '
0.067
»
Average price
99.986
"
”
n
0*059
11
(91 percent of the amount hid for at the low price was accepted)
91-DAY TREASURY BILLS, MATURING JUNE 22, 1938
Total applied for Total accepted
-
$242,126,000
100,282,000
Range of accepted bids:
High
99.993 Equivalent rate approximately 0.028 percent
-JLow
99.982
»
11
"
0.071
*
Average price
—
99.983
11
"
11
0.067
n
(90 percent of the amount hid for at the low price was accepted)
-oOo-
Por the Secretary* s Signa tiare
Mr. Ramsey S. Black,
Third Assistant Postmaster General,
Postoffice Department
Dear Mr. Black:
^ 1
I thank you for sending me a copy of the letter to you from the
Postmaster at Philadelphia calling attention to i rnrnnr that the sale
of United States Savings bonds will he discontinued, either on April 1
or at the close of the fiscal year.
There is no foundation for this report. There is no intention to
discontinue the sale of Savings Bonds either at the end of this fiscal
year or at any other time in the foreseeable future.
It is possible that the rumor had
a restriction in the appropriation for
Savings Bonds,it has been necessary to
in magazines. Other promotional effort
its origin in the fact that, due to
expenses connected with the sale of
discontinue paid advertising of them
will be continued, however.
/ m g '0AJ&4 I
The writer of the newspaper article you call to our attention t^H3***
the rumor^credible for the reason that he thinks it is no longer necessary to I
sell Savings Bonds to meet the Governments budgetary needs. This respresents I
a complete misunderstanding of the purposes for which Savings Bonds are issue®
Savings bonds were not designed to meet the Government*s current needs
for funds. They were designed to furnish a type of Government security which
would be attractive to any citizen desiring to lay aside funds for future use.I
They were particularly intended as a repository for savings in rwyfrfrYarairariiratx
relatively small amounts. To safeguard them for that use the amount which any I
one individual might buy in any one calendar year was restricted to $10,000,
maturity value. It was hoped thus to encourage more widespread holding of
Government securities by citizens in all walks of life and
tn «timnlate
interest in public affairs
The results have been very gratifying. More than a million and a quarter I
citizens now own Savings Bonds and a very large number are buying them regular|
out of x s j l current savings. They are treasured possessions in more than a
million American homed. They are the nucleus of funds for the education of
children, for the purchase of homes, for rainy-day reserves and for old-age
security.
All these considerations will continue to have the same weight whatever
may be the Government*s needs for funds in the future, and whether there is I
a budgetary deficit or a budgetary surplus. In the case of a budgetary surplus®
the funds obtained from the sale of Savings Bonds will be used to retire other®
forms of government obligations. I see no reason why their sale should ever
be discontinued.
Sincerely
Secretary of the Treasury
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Press Service
Monday, March -21,- 1938,
. . .
No. 12-77
3/19/38.
Secretary Morgenthau today made public the following letter:
March 19, 1938.
Mr. Ramsey S. Black,
Third Assistant postmaster General,
Post Office Department,
Washington, D . C .
Dear Mr. Black:
I thank you for sending me a copy of the letter to you from the Postmaster
at Philadelphia calling attention to a newspaper report that the sale of United
States Savings bonds will be discontinued, either on April 1 or at the close of
the fiscal year.
There is no foundation for this report. There is no intention to discon
tinue the sale of Savings Bonds either at the end of this fiscal year or at any
other time in the foreseeable future.
It is possible that the rumor had its origin in the fact that, due to a
restriction in the appropriation for expenses connected with the sale of Savings
Bonds, it has been, necessary to discontinue paid advertising of. them in magazines.
Other promotional effort will be continued, however.
The writer of the newspaper article you call to our attention regards the
rumor as credible for the reason that he thinks it is no longer necessary to sell
Savings Bonds to meet the Government’s budgetary needs. This represents a complete
misunderstanding of the purposes for which Savings Bends are issued.
Savings Bonds'were not designed to meet the Government’s current needs for
funds. They were designed to furnish a type of Government security which would be
attractive to any citizen desiring to lay aside funds for future use. They were,
particularly intended as a repository for savings in relatively small amounts. To
safeguard them for that use the amount which any one individual might buy in any
one calendar year was restricted to $10,000, maturity value.
It we.s hoped thus
to encourage more widespread holding of Government securities by citizens in all
walks of life and by this means to stimulate interest in public affairs.
The results have been very gratifying. More than a million and a quarter
citizens now own Savings Bonds and a very large number are buying them regularly
out of current savings. They are treasured possessions in more than a million
American homes. They are the nucleus of funds for the education of children, for
the purchase of homes, for rainy-day reserves and for old-age security.
All these considerations will continue to have the same weight whatever may
he the Government’s needs for funds in the future, and whether there is a budgetary
deficit or a budgetary surplus. In the case of a budgetary surplus the funds ob
tained from the sale of Savings Bonds will be used to retire other forms of govern
ment obligations. I see no reason why their sale should ever be discontinued.
Sincerely,
(Signed) H. Morgenthau,Jr.
Secretary of the Treasury.
TT
■ft
for the sole
purpose of baring tbs tooth cleaned wore not counted.
Other ianooffjioo" f innings of the study for white per sons ei
year*
of ago «ad over, ores
(Z2
1.
or ©out (33 rereoat if visits for extractions only ore in-
eluded) 0 wore reported to have soon the dentist la the
%2
aonths before the
date of the canvass*
S.
The differences m i a g e
in the percentages having received
dental tre&taen^^he^reeeding year were marked, varying fro» ? per cent
(excluding extraction« only) in the age group 3 - 5 years, to 31
e*»t in
the age group 15-19 year«, and down to i per cent in the age group t§ years
and over*
The proportion by age # » 0 had never seen a dentist varlsd fro«
3.
t§ per cent in the age group 3-5 years, to I per cent in the group I f - #
years*
Tor the «hole group, 19 per cent had never seen a dentist.
h.
The dental cere received during the year before the date of
the canvass was largely for extractions or filling« or both, with char
acter! etle differences by age*
%
Extractions showsd slightly higher percentages in the lower
sodo-econoaic group«*
All other types of treat«««t which «ay be regarded
as reparative, showed the reverse, especially fillings*
In the latter
type of service, the professional groups rscalved about three tines as «any
as did the mi skilled group«*
Extractions were excluded in «cat of the tables developed in this
study becaass having a tooth pulled is^so frequently the treatment of ne
cessity rather than the treatment of choice^
If extracted teeth were re
placed by plates, bridges, or crown«, such replacements were counted as
11visits'* for dental care*
mn
H u “"*—
<r,*l c _ r e jga peakdsbXft *****
^Copies of the March 25 issue of PUBLIC HEALTH REPORTS, with the full
text and tables of Mr*
in room 287 Treasury Building.) ritten»s
study, will be available on that date!
I
For Friday pm'g
The injunction to "see your dentist" once a year or
more was obeyed by 4-2 per cent of a city's professional persons and
fihe ratio declined downward to 16 per cent of its unskilled workers
the United States Public Health Service showed today in its weekly
issue of PUBLIC HEALTH BEPORTS.
The outline of the city- dweller's response to
education in dental care was a supplemental effort of the National
Health Survey, which was aided by grants from the Works Progress
Administration.
The study of the care of the teeth in Detroit,
y i n 1935-36
\
Mich., was undgi^^eH/prbHsfeg request of the Medical and iTental Bureau
of Wayne County, with Dr. 0. W. White acting as chairman of a
Professional Advisory Committee.
•erson was also shown in the finding of Rollo H. fil Britten
enior Statistician of the Public Health Serv-iee, that four timi
families where
ad was a professional person
Since the purpose of the study was to determine the
amount of dental treatment obtained, visits to dentists
oal*=■=!
TREASURY DEPARTMENT
Washington
Press Service
No. 12-78
FOR RELEASE, AFTERNOON NEWSPAPERS,
Friday, March 25, 1938«
_____
3-24-38
The injunction to ttsee your dentist” once a year or more was obeyed by
42 per cent of a city*s professional persons and the ratio declined downward
to 16 per cent of its unskilled workers, the United States public Health
Service showed today in its weekly issue of PUBLIC HEALTH REPORTS.
The outline of the city-dweller!s response to education in dental care
was a supplemental effort of the National Health Survey, which was aided by
grants from the Works Progress Administration.
The study of the care of the
teeth in Detroit, Michigan, was undertaken in 1935-36 at the request of the
Medical and Dental Bureau of Wayne County, with Dr,. 0. W. White acting as
Chairman of a Professional Advisory Committee.
Senior Statistician Rollo H. Britten of the Public Health Service found
that 4.4 per cent of the adults in.white families headed by a professional
person had never been to a dentist.
Almost four times as many - 16.3 per cent
- adults in families of unskilled workers had never visited a dentist for treat
ment .
Since the purpose of the study was to determine the amount of dental
treatment obtained, visits to dentists for the sole purpose of having the teeth
cleaned wore not counted.
Other outstanding findings of the study for white persons of 3 years of
age and over, are:1.
Twenty-two per cent (33 per cent if visits for extractions only are
included) were reported to have seen the dentist in the 12 months before tho dat
of the canvass
-
2.
2
-
The differences by age in the percentages having received dental
treatment during the preceding year were marked, varying from 7 per cent (ex
cluding extractions only) in the ago group 3-5 years, to 31 per cent in the
age group 15-19 years, and down to 6 per cent in the age group 65 years and
over.
3.
The proportion by age who had-never seen a dentist varied from 85
per cent in the age group 3-5 years, to 8 per cent in the.group 25-34 years*
For the whole group, 19 per cent had never seen a dentist.
4.
The dental care received during the year before the date of the can
vass was largely for extractions or fillings or both, with characteristic
differences by age.
5.
Extractions showed slightly higher percentages in the lower socio
economic groups.
All other types of treatment v/hich may be regarded as repara
tive, showed the^reverse, especially fillings.
In the latter type of service,
the professional groups received about three tines as many as did the unskilled
groups.
Extractions were excluded in most of the tables developed in this study
because having a tooth pulled is f,so frequently the treatment of necessity
rather than the treatment of c h o i c e . I f extracted
teeth were replaced by
plates, bridges, or crowns, such replacements were counted as nvisits,r for
dental care.
— oOo—
(Note to correspondents - Copies of the March 25 issue of PUBLIC HEALTH REPORTS,
with the full text and tables of Mr. Britten*s study, will be available on
that date in Room 287 Treasury Building.)
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE ’
Monday, March 28, 1938.
Press Service
No. 12-79
The following statement by Secretary Morgenthau was made public on
March 27, 1938:
"In view of the decision of the Government of the United Sta.tes to
reexamine certain of its financial and commercial relationships with Mexico
the Treasury will defer continuation of the monthly silver purchase arrange
ments with Mexico until further notice."
— oOo—
Charles a» Kolodzlnakl
93 lek© 3t * ,
Northampton, 1?as®,
doy bumton,
Jr*,
603 «* Brooke,
Norma, Okla
Milton li» Staff«a,
1.08 *-sr©., 1
Hunt a m i e , Tex&s
Henry D, Wilson
104 H o % e © Lane,
Ti.? orna Farle, Uà*
Godard ; * B r y U ,
2819 ..• Mulliats .
‘-ve*,
C h i e d o , 111.
Poter ù. Bilie,
$03J 3t • James v©.,
Springfield, M ass,
Joseph T. Devlin,
1? Hnnlegfe Hoed,
Brighton, .¡.©ss,
Glen
'¿tatti t,
930 SI* ’¿Sultane ^r©*#
3an Gabriel, Calif*
A O C r a ® ^ A 3 3 S T CANDIDATES FROM
 MARCH. 1938 teTÏT M W Ï E i  l 9 3 8 C
Loy W. Ao Renshaw,
221 No Killingsworth,
Portland, Oregon
Frederick J. Gradishar,
1 Lawrence S t . ,
Ely, Minn.
John Natwig,
709 Mont auk A v e .,
New London, Conn*
William H. Plant,
West Point Prep School,
Fort Scott, San Francisco, Calif
Vincent J. Castronovo,
2809 N. Capttol St.,
Washington, D. Co
Claude B. Shaw,
Staunton Military Academy,
Staunton, Va.
Harold 3# Górecki,
942 Francis A v e * ,
Schenectady, No Y.
George Hoppoek,
910 Summit Ave.,
New York, N. Y.
Stanley 5. Morrill,
3 Lincoln Heights,
Willimantic, Cornu
George G. Goldstein,
101 West Queen St.,
Hampton, Va.
William Laurier, J r . ,
435 West 123rd St.,
New York City, N. Y.
Robert E. Dudley,
435 McKinley A v e . ,
Kellog, Idaho
Robert A. Adams,
48 Fairfield Ave.,
Hartford, Conn.
Enser W. Cole, Jr.,
211 W. Kerr S t . ,
Salisbury, N. C*
Howard L. Stone, Jr.,
Admiral Farragut Academy,
Pine Beach, N. J.
Joseph G. Bastow, Jr.,
17 Dulwich Road,
Oakland, Calif.
John Paul Jones,
630 Marlborough Road,
Brooklyn, N. Y.
John R. Boardman,
R. D. 2,
Birdsboro, Pa.
Robert 1. Mooring,
C 0 G. Cutter INGHAM
Home is in Gloucester, Mass#
- 2 «
Elmo Castelnuovo,
417 Lincoln Avenue,
Leechburg, Penna.
Zaven Mukhalian,
396 Montello Street,
Brockton, Mass.
David R. Claxton,
12 East Street,
Ipswich, Mass.
Adrian M. 0*Beck, Surfman,
Holland Station, lOth District,
Walter John Pisinskj/,
56 Julian Street,
Providence, R.
James P. Eairbrook,
511 South Sixth Street,
Yakima, Wash.
Max A. Schlecht, N. C. Div. ,
U. S. S. NORTHAMPTON,
San Pedro ,/C al if .
./ . ‘
Prank C/ Schmitz,
U. S./é. LEXINGTON,
San ^pedro, Galif.
Peter Hanna,
Went Newton, Penna.
James E. Hartnett,
155 South Stree\,
Waterbury, Conn. \\
Henry Clay Keene,
115 Lucas Lane,
Bethesda, Md.
Hérbert Sosensky,
/.Oöö Newport' St, ,
■
x Brooklyn, N. Y.
Robert Kirstein,
2 Sherbrock Road,
Lindenhurst, N. Y.
William M. Sterling,
Hambrooks Seulevard,
Cambridge, Md.
Jerry Komorech,
U. S. C.G. C., SARANAC,
G-alveston, Tex.
Andrew^ Stohrer,
U. S. S. SELPRIDGE, Navy Yard,
Philadelphia, Penna.
/
Richard H. Lachman/,
2425 Virginia Stj/eet,
Berkeley, Calif/
Louis P. Sudnik,
U. S. S. MEDUSA,
San Pedro, Calif.
George H. Lawrence,
U. S. Naval: Ho stdi t a l ,
Washingti
D. C.
Harri son ?. Taylo r ,
1018 North Second Street,
Mankato, Minne sota.
Gordon Mc3ain,
259 Box Avenue,
Buffalo, N, Y.
— nO
ouo-
CV * * *
I iiliJ
fashing to».
EOR RELEASE, MORNING NEWSPAPERS,
Tuesday.
1/15/38. ' ->, .. '
Press Seryice
No. 12-17"
The a^fflg^tTesignatlon of candidates eligible to compete
for appointment as cadets in the United States Goast Guard Academy at
New London, Conn., was made today hy Rear Admiral' R. R. Waesche,
Commandant of the Coast Guard.
Other applicants will be certified from time to time
during the next^ i y ^ months as satisfying the scholastic and character
requirements of the Service and all will then compete in June in
examinations to be given in various parts of the country with the
co-operation of the Civil Service Commission.I Successful participants
in that test will be appointed as cadets for entrance into the Academy
in August, 1938, as the needs of the Service may require.
The
candidates acceptec^from among the many who
have applied during the past six months to take the Academy examination
are as follows:
Joseph Anthony, Jr.,
412 IteLJLevue Avenue,
Hammontonj
John Winston Booker,
4626 Clay Avenue,
Houston, Te;
Roger H. Banner,
Center Street,
S egr egan set vJykrSsT"
John E. Brown,
Co. 37-23, Naval Training Station,
San Diego, Calif.
Coi
land Headquartj
fashingtofi, D. C,
23 March/ 1938,
r
lSE
2he foil owing*>ppli cants have been designated by the Commandant
of the United*-States Coastguard, Hear Admiral H. B. Waesche, to take
the examination for appointment as a cadet at the United States Coast
Guard/Academy at Hew London, Connecticut, which will he held during
the
first week in June. (¿Applications are now being received at Coast
V '
• ^
—
*
Guard Headquarters at a rate in excess of 100 a day.
Due to the rigid
requirements, only a number slightly in excess of 125 have been accepted
If
■asj V i M I<T O 5 » to date/fe
_JShe-4±s1T^f^andi da te s
together with
address
(
will be
on attached
\she
TESA.SUSY DEPARTMENT
Washington
FOR RELEASE, MORNING-NEWSPAPERS
Tuesday,
X u.C / o » March 29, 1938«
3/28/38.
Press Service
Ho, 12-80
The second 1938 designation of candidates eligible to compete
for appointment as cadets in the United States Coast Guard Academy at
hew London, Conn., was made today by Rear Admiral R. R. Waesche, Commandant
of the Coast Guard.
Other applicants will be certified from time to time during
the next two months as satisfying the scholastic c
and character requirements
of the Service and all will then compete in June in examinations to be
given in various parts of the country with the co-operation of the Civil
Service Commission.
Applications are now being received It Coast Guard Headquarters
at a rate in excess of 100 a day.
Due to the rigid requirements, only a
number slightly in excess of 125 have been accepted to date to participate
in the examination.
Successful participants in that test will be appointed
as cadets for entrance into the Academy in August, 1938, as the needs of
the Service may require.
The candidates a'.ccepted in March from among the many who have
as follows:
Loy W. A. Renshaw,
221 North Killingsworth Street
Portland, Oregon
Vincent J, Castronovo,
2809 North Capitol Street
Washington, B. C.
John Hatwig,
709 Monta.uk Avenue
Hew London, Conn,
Harold S, Górecki,
942 Francis Avenue,
Schenectady, N. Y.
Stanley B. Morrill,
3 Lincoln Heights,
Willimantic, Conn.
Enser W. Cole, Jr.,
211 West Kerr Street,
Salisbury, N. C.
William Laurier, Jr.,
435 West 123rd Street,
New York, N. Y.
Joseph G. Bastow, Jr.,
17 Dulwich Road,
Oakland, Calif.
Robert A. Adams,
48 Fairfield Avenue,
Hartford,Conn.
John R. Boardman,
R. D. 2,
Birdsboro, Pa.
Howard L. Stone,.Jr.
Admiral Farragat Academy,
Pine Beach, N. J.
Robert E. Morring
C. G. Cutter Ingham
Home is in Glo(uc»ste|*,Mass.
John Paul Jones,
630 Marlborough Road,
Brooklyn, N. Y.
Charles G. Kolodzinski,
93 Lake Street,
Northampton, Mass.
Frederick J. Gradishar,
1 Lawrence Street,
Ely, Minn.
Roy Denton, Jr.,
603 West Brooks,
Norman, Okla.
William H. Plant,
West Point Prep School
Fort Scott, San Francisco, Calif,
Milton H. Steffen,
1008 Avenue L,
Huntsville, ™exas
Claude B. Shaw,
Staunton Military Academy,
Staunton, Va.
Henry D. Wilson,
104 Hodges Lane,
Takoma Park, Md.
George Hoppock,
910 Sammit Avenue,
New York, N. Y.
Medard Z. Bryll,
2819 North Mulligan Avenue,
Chicago, 111.
George G. Goldstein,
101 West Queen Street*
Hampton,tYa.
Peter G. Ellis,
668§ St. James Avenue,
Springfield, Mass.
Robert.E. Dadley,
435 McKinley Avenue,
Kellog, Idaho
Joseph T, Devlin,
17 Ranlegh Road,
Brighton, Mass.
Glen W. Pettit,
936 North Sultana Avenue,
San Gabriel, Calif.
Tm&WK
Washington
Piress Sarriee
FOt S W , ttM U tt ÌTOSFAPSiS,
Taaaday* Mare)i 89* 1938*
3/88/36
Tha Saeratery ©f th i Traaenry amouneod la©t araniag that ti» tender*
for tu© sari©© o f Treasary U i l s , t© ba datad Mareh 30* 1938* whleà wers offerei
©a Mareh it * wara ©penad at thè Fedaral Ba»arra baule© ©a m r d 38.
Tender© were in r lte d fo r thè two ©arie© to tha aggregata amoant of
$180*000*000* ©r thereabout», and $316*193*000 w&s applled fa r , of whieh
$180*304*000 ime aeeepted*
tha datali© o f th© tao ©aria» (tha 80~day bill©
fo r $80,000*000, or theraabout©* and th© 91«*day b ill» fo r 1100,000,000* or
tharaaboat©) ara a© follo»© :
1 8 . 1938
80-PAY T3HA8W1T BIOS*
#03*463*000
30,107*000
Total applied fo r Total aooaptad
tenga o f aooaptad bids:
Hi#
¿0»
-
Areraga prie e
99*998
9$#9?3
99*988
S^nlTaieat rata appzoxlieately
©
#
*
«
‘ *
a
0*083
0.099
0*081
pereent
*
**
(8 peroaat o f tha saoaat bid for a t tha low prie© wa© aeeaptad)
91~BAY T im stlty B u ia . MATTIMI 30)fg 89* 198S
$233,733,000
100*097*000
Total applled for »
Total aeeaptad
«
Rango of aaaaptad bid©
99*987
99*976
99.978
Righ
lo©
*
Arerage prlea
*
Iquivalant
*
«
rata
*
a
approxlaately
*
«
0*081 pareeat
0*095
*
0*087
(57 percent ©f ths aaount bid fo r at tha low p rlea wa» aeeaptad)
S>'
?\
PM
.
À
ty
T R E A S U R Y DEPARTM ENT
W a s h in g t o n
FOR R E L E A S E ,
T u esday,
3 /2 8 /3 8
The
fo r
tw o
M O R N IN G N E W S P A P E R S ,
M a rc h
29,
S e c re ta ry
s e r ie s
on M a r c h 2 5 ,
of
$ 1 5 0 ,2 0 4 ,0 0 0
fo r
h ills ,
in v it e d
w as
a re
a c c e p te d .
to
announced
he
d a te d
R o d e ra i
R e se rv e
fo r
th e
s e r ie s
and
tw o
$ 3 1 6 ,1 9 5 ,0 0 0
a p p lie d
T o ta l
a c c e p te d
Range o f
H ig h
as
f o llo w s :
-
$ 8 2 ,4 6 2 ,0 0 0
-
5 0 ,1 0 7 ,0 0 0
b id s !
—
a c c e p te d
Low
A v e ra g e p r ic e
th e
9 9 .9 9 5
9 9 .9 7 8
E q u iv a le n t
11
-
9 9 .9 8 2
»
th e
am ount
h id
fo r
ra te
«
-
$ 2 3 3 ,7 3 3 ,0 0 0
1 0 0 ,0 9 7 ,0 0 0
th e
lo w
b id s :
-
9 9 .9 8 7
E q u iv a le n t
—
9 9 .9 7 6
11
»
-
9 9 .9 7 8
»
"
of
th e
am ount h id
28.
a g g re g a te
s e r ie s
fo r
fo r
at
—o O o —
ra te
th e
lo w
fo r,
te n d e rs
w e re
am ount
of
o ffe re d
of
w h ic h -
( th e - 8 0 -d a y h i l l s
$ 1 0 0 ,0 0 0 ,0 0 0 ,
or
1 9 38 ,.
a p p r o x im a t e ly
~
<»
#
p r ic e
M A T U R IN G J U N E
-
(5 7 p e r c e n t
on M a r c h
»
at
th e
w h ic h
M A T U R IN G JU N E 1 8 ,
-
of
tw o
th a t
S e r v ic e
1 2 -8 1
1938,
a p p lie d
9 1 -d a y h i l l s
9 1 -D A Y T R EASU R Y B I L L S ,
Range o f
H ig h
w as
and th e
fo r
fo r
th e
th e re a b o u ts ,
(5 p e r c e n t
a p p lie d
to
or
A v e ra g e p r ic e
a c c e p te d
hanks
of
Low
Tot a l
30,
d e t a ils
a c c e p te d
T o ta l
e v e n in g
The
8 0 -D A Y TR EASU R Y B I L L S ,
T o ta l
la s t
M a rch
th e
o r . th e re a b o u ts ,
$ 5 0 ,0 0 0 ,0 0 0 ,
th e re a b o u ts )
th e -T re a s u ry
opened a t
T e n d e rs w e re
$ 1 5 0 ,0 0 0 ,0 0 0 ,
of
No.
T re a su ry
w e re
. P re ss
1938-
w as
29,
0 .0 2 3
0 ,0 9 9
0 .0 8 1
p e rce n t
"
«
a c c e p te d )
1938
a p p r o x im a t e ly
.
p r ic e
0 .0 5 1
p e rce n t
»
0 .0 9 5
»
n
0 .0 8 7
«
w as
a c c e p te d )
(two)
As
a' ' X k & i
investigations of
agent Mr.
Bell^üffipTetec d
/inportance#
William
One
Hildebrandt, w h o
was
two
against
was onmH<rk«d
'N
with
sixteen of his
associates
and
in p e n i t e n t i a r y . Another involved
counterfeiter and mail robber
H ildebrandt*s
Detroit
While
to
twenty years
Thomas Nelson, a former
who
narcotic business.
pending in the courts.
sentenced
attempted to take over
The Nelson
a ylfarcotic
in November, 1927, Mr. Bell was
case is still
agent
shot
at
So.r,'ovJ
1
•and
danflereu&jhr ■»
fourteen years.
-o-
wounded^'^e^has
been in the
p gfoatfr Bureau
N ~ircl
FOR IMMEDIATE RELEASE,
Wednesday, March 30,
1938,
Seeretoj^ÿ^massrsssasmm
the assignment,
effective
James
J*
Biggins*. of the
of Narcotics
over the
to the
April
r
of
District Supervisor
San Antonio
Chicago
office,
states of Illinois,
today announced
(Tex*^)
area of the Bureau
with supervision
Wisconsin and Indiana*
:2Mr*
Biggins
will relieve
Mrs.
Elizabeth
U*
Bass, who
STI ^munirli to the
Mrs. Bass
is on
narcotic
act
Denver
will direct
in Colorado, Utah,
office
enforcement
Wyoming, Arizona
of the
Hal
and New
Mexico *
Replacing
Louisiana
and
Mississippi will
office^ who in turn
Nebraska
Denver
will be
and North and
be
Mr* Biggins
Joseph
succeeded
South
Dakota
for
Bell^
for
of the Minneapolis
Minnesota,
by Harry
Texas,
Iowa,
D. Smit l ^ of the
office.
Mr. Biggins
Ji&Bm m m
for xufaviufe
inspector
in
has
been in the ^arcotici?
eighteen years, having entered
the District of Columbia.
as
a n
He directed
operations
_
w h ich
resulted
in the
conspiracies.
a
defendant, Louis
imprisonment, due
crushing
Tm
one
Ginsberg,
to
of
case
was
a
number of
in the
sentenced to
awejfwr
San Antonio
1 /Ac ;y J r M
district
fifty years^
under Mr. Biggins*
direction.
(more)
JR O U ^ m * G-ASTÜ!»S OFFICE
‘
JJO;
1 .M T V ^ rr r r e ö S — ..
»i«»*«»* • »í **• *»* M •»«
v^SS «Mr, Ire y
3.
Mr* Anslinger -
For approval.
TR EASU R Y D EPARTM EN T
W a s h in g t o n
FOR IM M E D IA T E R E L E A S E ,
W ednesday, M a rc h 3 0 , 1 9 3 8 ,
The
A p r il
5,
a re a o f
S e c re ta ry
of
o f D is t r ic t
th e
B u re a u
th e S t a t e s
of
M r.
B ig g in s
w ill
her
H a r r is o n N a r c o t ic
A ct
in
th e
M r.
in g
e n te re d
w h ic h
In o n e
case
to f i f t y
in
and
M rs,
C h ic a g o
E liz a b e t h
C o lo r a d o ,
U ta h ,
o f f ic e ,
T exas,
w ho
in
Bass
tu rn
an
In s p e c to r
in
th e D is t r ic t
in
th e
y e a rs*
S a n A n t o n io
im p r is o n m e n t ,
B u re a u
to
a s s ig n m e n t ,
e f f e c t iv e
S a n A n t o n io
w it h
w ill
w ho
d ir e c t
(T e x a s)
s u p e r v is io n
be
over
a s s ig n e d
e n fo rc e m e n t o f
S m it h
fo r
C o lu m b ia .
a d e fe n d a n t,
w ill
fo r
L o u is
by
th e
of
be
Joseph
M in n e s o t a ,
th e
D enver
o f f ic e .
e ig h t e e n
y e a rs,
hav
He d ir e c t e d
illic it
g a th e re d
to
a n d N ew M e x ic o ,
succeeded
o f N a r c o t ic s
e v id e n c e
b e in g
and M is s is s ip p i
H a rry D.
o f
is
A r iz o n a
a n u m ber o f m a jo r
d is t r ic t
due
w ill
by
th e
th e
Bass,
L o u is ia n a
in
of
th e
o f f ic e ,
W y o m in g ,
S o u th D a k o ta ,
c r u s h in g
of
th e
I n d ia n a .
M rs.
fo r
announced
B ig g in s
has been
as
r e s u lt e d
th e
re q u e s t,
Io w a , N e b r a s k a a n d N o r t h a n d
B ig g in s
to
r e lie v e
B ig g in s
M in n e a p o lis
to d a y
Jam es J ,
W is c o n s in
at
of
T re a su ry
o f N a r c o t ic s
th e D e n v e r o f f i c e
B e ll
th e
S u p e r v is o r
I llin o is ,
R e p la c in g
P r e s s S e r v ic e
j j 0# 1 2 - 8 2
d ru g
o p e r a t io n s
c o n s p ir a c ie s .
G in s b e r g ,
a g e n ts
w as
s e n te n c e d
u n d e r M r.
B ig g in s
d ir e c t io n .
As
a T r e a s u ry A g e n t M r.
im p o r t a n c e .
v ic t e d
One w as a g a in s t
w it h
t e n t ia r y .
s ix t e e n
A n o th e r
of
to
ta k e
s t ill
in
th e
M r. B e l l
w as
shot
B u re a u o f N a r c o t ic s
a m a jo r
and
s e r io u s ly
n a r c o t ic
in
to
a fo rm e r
a n a r c o t ic
w ounded
W illia m
s e n te n c e d
T hom as N e ls o n ,
W h ile
c o m p le t e d
o ffe n d e r,
o v e r H ild e b r a n d t * s
c o u rts .
and
r e c e n t ly
a s s o c ia t e s
in v o lv e d
who a t t e m p t e d
p e n d in g
h is
B e ll
lin e
fo u rte e n y e a rs .
— oO o—
in v e s t ig a t io n s
of
H ild e b r a n d t ,
w ho w a s
tw e n ty y e a rs
in
c o u n t e r f e it e r
b u s in e s s .
agent
of
tw o
at
d u ty .
th e p e n i
and m a il
T h e N e ls o n
D e t r o it
in
con
ro b b e r,
case
N o v e m b e r,
He h a s b e e n
in
th e
is
1927,
mrn/J
/*£-£>
>
/2-F3
¿¡YLor&rth**
Commissioner of Internal Revenue»Helydring announced today that
Collectors of Internal Revenue have completed the addressing and mail
ing of blank return Forms SS-la to w e i 1,800,000 employers throughout
the United States f o r use in filing
Ago B u i u M ^ t a x and in
formation returns required under Title V I H of the Social Security Act
for the quarter year ending March 31* 1938.
These returns involve jearea* n*erAti
36,000,000 employees whose wages are credited to their individual ac
counts on the records of the Social Security Board.
Kiis is the first tax period under the n e w procedure whereby Social
Security t a x returns are filed once every three months instead of monthly
as heretofore.
The n e w returns combine into one f o r m the tax and informa
tion returns previously filed on three separate returns.
Tho now quartorly
_rstura^hss^b6eii design ed to simplify fhp> c o l d e c t i ©£ O l d - A g e 'Benefits—
t axe sounder Tit lc— VIII of —tho1Sooial-S o o u n t y - A c ^ |^Employers should have
less difficulty in preparing n e w quarterly returns than was encountered
under the old procedure^" £ 0 ^
ssivn^o>^r f4 e.fv > e
s
K
'The n e w return is designed to insure absolute conformity between
taxable wages reported on the tax portion of the return as the basis of
the taxes due, and the taxable wages (reported on the information portion
of the return as the basis of credits to the accounts of employees maintained b y the Social Security Board/
To accomplish this, the information
portion of the return, known as Schedule A, provides space for listing
the taxable wages paid to every employee during the quarter-year period.
I h e n all wages have been shown on this Schedule, the total will be used
as the basis for computing the taxes due for the quarter.
!
A Continuation Sheet, identified as F o r m SS—lb, has been designed for
those employers having in excess of twenty employees.
Supplies of continu
ation sheets have also been mailed by Collectors to employers who require
them.
li
The cooperation of employers in promptly filing the returns required
under uhe Social Security Act is of vital importance to the success of the
Social Security program.
The first quarterly returns on the n e w form under
Title VIII of the Social Security Act must be filed in the office of the Col
lector of Internal Revenue in the Collection District in which the employer's
principal place of business is located not later than midnight of April 30,
1938, so as to avoid the assertion of penalties which are provided by law
for tin, delinquent filing^ nf mnli in*waspfwy The interests of both the employer
and the employee will definitely be better served b y the timely filing of
correct and complete tax and information returns.
j
TR EASU R Y DEPARTM ENT
B u re a u
of
In te rn a l
Revenue.
W a s h in g t o n
TOR IM M E D IA T E R E L E A S E ,
W ednesday,
M a rc h
30,
P re ss
1938.
C o m m i s s io n e r o f
C o lle c t o r s
of
r e tu r n F o rm s
fo r u s e
S o c ia l
in
S S - la
f ilin g
m o re
T h is
ta x r e t u r n s
is
th re e
w ages r e p o r t e d
and t h e
t a x a b le
b a s is o f
B o a rd *
u le A ,
on
c r e d it s
To
to
th e q u a r t e r - y e a r
space
be u sed
as
e m p lo y e r s h a v in g
s h e e ts h a v e
a ls o
fo rm
le s s
w ages
th e
1938.
in s t e a d
ta x
V III
T h ese
c r e d it e d
of
to
c la n k
S ta te s
of
th e
re tu rn s
t h e ir
in d i
B o a rd .
new p r o c e d u r e
m o n th s
th e
31,
th a t
th e U n it e d
under T it le
a re
S e c u r it y
of
y d ie r e b y
m o n t h ly
a n d in f o r m a t io n
th e
d if f ic u lt y
o ld
d e s ig n e d
to
o f
re p o rte d
th e
on
a c c o u n ts
t h is ,
fo r
th e
th e
b a s is
th e
fo r
S o c ia l
S e c u r it y
as h e re to fo re .
re tu rn s
p r e v io u s ly
re tu rn
as
w ages h ave
c o m p u t in g
C o lle c t o r s
p o r t io n
o f
been
th e
of
by
th e
w a g e s p a id
to
show n o n
ta x e s
S S - lb ,
e m p lo y e e s .
to
b a s is
m a in t a in e d
a s F o rm
tw e n ty
c o n f o r m it y
th e
p o r t io n
t a x a b le
pew q u a r t e r ly
C o m m i s s io n e r H e l v e r i n g
in f o r m a t io n
id e n t if ie d
by
p r e p a r in g
a b s o lu t e
e m p lo y e e s
th e
excess o f
b e e n m a ile d
in s u r e
in f o r m a t io n
W hen a l l
S h e e t,
in
o f
lis t in g
in
p ro c e d u re ,”
t a x p o r t io n
p e r io d .
nA C o n t i n u a t i o n
th o s e
is
th e
a c c o m p lis h
p r o v id e s
to ta l w ill
w ages
under
M a rc h
to d a y
and m a ilin g
th ro u g h o u t
r e q u ir e d
e n d in g
announced
a d d r e s s in g
e m p lo y e r s
S o c ia l
th re e
one
th e
re tu rn s
th e
H e lv e r in g
1 2 -8 3
re tu rn s .
under
th e
of
e v e ry
s h o u ld h a v e
HT h e n e w r e t u r n
1 ,8 0 0 ,0 0 0
e m p lo y e e s w h o s o
in t o
s e p a ra te
c o m p le t e d
t a x p e r io d
once
Guy T .
q u a rte r year
re c o rd s
c o m b in e
e n c o u n te re d
have
in f o r m a t io n
th e
f ir s t
f ile d
^ E m p lo y e r s
th a n w a s
fo r
th e
th e
The n e w r e t u r n s
on
and
Revenue
th a n
3 6 ,0 0 0 ,0 0 0
on
a re
Revenue
m o re
ta x
th a n
v id u a l a c c o u n t s
f ile d
to
S e c u r it y A c t
in v o lv e
In te rn a l
In te rn a l
S e r v ic e
No.
of
th e
has
t h is
th e
S e c u r it y
know n a s
e m p lo y e e
S c h e d u le ,
th e
of
due,
as
Sched
d u r in g
th e
q u a rte r.
b e e n d e s ig n e d
S u p p lie s
e m p lo y e r s w ho
S o c ia l
e v e ry
t a x a b le
ta x e s
re tu rn
re tu rn ,
due f o r
s a id .
b e tw e e n
th o
th e
re tu rn s
fo r
c o n t in u a t io n
r e q u ir e
th e m .
2
-
1fT h e
th e S o c i a l
p ro g ra m .
c o o p e r a t io n
of
e m p lo y e r s
S e c u r it y A c t
is
of
The
S e c u r it y A c t
f ir s t
m u st he
the C o l l e c t i o n
lo c a t e d
not
p e n a lt ie s
of b o th
la t e r
o f
in
in
im p o r t a n c e
re tu rn s
th e
w h ic h
p r o m p t ly
on
o f f ic e
th e
a r e p r o v id e d
b y la w
th e
of
in
and
th e
e m p lo y e e w i l l
co rre ct
and
c o m p le t e
ta x
th e
th e
success
new fo r m
th e
30,
case
f ilin g
to
e m p lo y e r ^
t h a n m id n ig h t o f A p r i l
e m p lo y e r
t im e ly f i l i n g
f ile d
D is t r ic t
w h ic h
th e
q u a r t e r ly
v it a l
in
-
C o lle c t o r
so
as
d e lin q u e n t
d e f in it e ly
and
of
of
to
S o c ia l
V III
of
under
S e c u r it y
th e
In te rn a l Revenue
of
a v o id
b u s in e s s
th e
f ilin g .
be b e t t e r
in f o r m a t io n
r e q u ir e d
th e
T it le
p r in c ip a l p la c e
1938,
of
under
re tu rn s
in
is
a s s e r t io n
of
The in t e r e s t s
se rv e d
re tu rn s .H
S o c ia l
by
th e
In the preparation of their bids and
they
»1X1 also be asked to present
similar assurances with respect to subcontractors undertaking mechanical
work on the building for the general contractor* Both contractors and
subcontractors will be asked to make records available so that the
Government may assure itself that no unfair and discriminatoxy trade
practices are being pursued.
Secretary Morgenthau announced today that, by direction of the
President, additional measures had been adopted to protect legitimate
bidders for government contracts against unfair trade practices and to
insure free competition among contractors and suppliers of material for
Government construction or other construction for which the Government
supplies ail or part of the funds*
The measures adopted follow recommendations mad© by. the President !s
Inter-departmental
price
study group.
Effective April 1, the Procurement Division of the Treasury Depart
ment will undertake the purchase of all cement to be used directly by
Governiaerib departments or agencies.
In advertising for bids for cement
the Procurement Division will request bidders to agree to enter into an
•open contract,11 under which contractors on Government work and contractors
on other work for which the Government supplies ail or a part of the funds
may purchase cement at the prices quoted to the Government. Bidders for
the cement contract or contracts will also be requested to quote on the
basis of delivery at the place of manufacture of the cement.
As an initial step in revision of the procedure with respect to
construction contracts in which the Government has an interest, the Pro
curement Division will adopt, effective April 1, a new policy with respect
to bids for the construction of Government buildings.
In the case of contracts for building construction proposals for
which are to be advertised after that date bidders will be asked to certify
that there has been no collusion with other bidders or prospective bidders
T R EA SU R Y DEPARTM ENT
W a s h in g t o n
FOR IM M E D IA T E R E L E A S E ,
T h u rsd a y ,
M a rc h
31,
S e c re ta ry
had been
a g a in s t
among c o n t r a c t o r s
c o n s t r u c t io n
fo r
and
d e p a rtm e n ta l p r ic e
E f f e c t iv e
th e
s u p p lie r s
th e
As
t io n
In
to
to b e
of
a g re e
th e
fo r
b a s is
in
of
of t h e ir
to
fu n d s
th e
of
be
b id s
fo r
e n te r
in t o
an
on
d e liv e r y
in
th e
c o n tra c t
at
th e
r e v is io n
fre e
fo r
G o v e rn
c o m p e t it io n
c o n s t r u c t io n , o r
or p a rt
1,
cem ent
of
th e
th e
o th e r
fu n d s *
P r e s id e n t * s
in t e r
of
to
of
by
at
w h ic h
th e
D e p a rtm e n t w i l l
G o v e rn m e n t
th e
p r ic e s
w ill
d e p a rtm e n ts
in t e r e s t ,
a new p o l i c y
in
o f
w it h
th e
be
to
w ill
c o n tra c to rs
G o v e rn m e n t
q u o te d
a ls o
m a n u fa c tu re
th e p ro c e d u re
an
T re a su ry
c o n t r a c t , ’* u n d e r w h i c h
c o n tra c ts
p la c e
th e
th e P ro c u re m e n t D iv is io n
w o rk f o r
cem ent
or
of
d ir e c t ly
Ho p e n
G o v e rn m e n t h a s
b e g in n in g A p r i l
u .s e d
o th e r
m ay p u r c h a s e
cem ent
s te p
to
fo r
c o n tra c to rs
w h ic h
case
c o llu s io n
b id s
a ll
th e P r e s id e n t ,
s u p p lie s
th e
G o v e rn
re q u e s te d
th e
to
c e m e n t.
re sp e c t
to
c o n s tru c
P ro c u re m e n t D iv is io n
r e la t io n
to
b id s
fo r
th e
G o v e rn m e n t b u ild in g s .
a d v e r t is e d
"been n o
in s u r e
r e c o m m e n d a t io n s m ade b y
cem ent
a d v e r t is in g
e ffe c t,
th e
s u p p lie s
of
b id d e r s
G o v e rn m e n t
a ll
an i n i t i a l
c o n s t r u c t io n
fo r
to
of
c o n tra c ts
w ill g iv e
f o llo w
and
p u rch a se
B id d e r s
th e
m a t e r ia l
le g it im a t e
S e r v ic e
1 2 -8 4
s tu d y g ro u p .
on G o v e r n m e n t w o r k a n d
q u o te o n
p r a c t ic e s
G o v e rn m e n t
a d o p te d
p ro te c t
b y d ir e c t io n
th e P ro c u re m e n t D iv is io n
re q u e s t b id d e r s
m e n t.
of
to
th a t,
1,
In
a p a rt
tra d e
to d a y
A p r il
or a g e n c ie s .
a ll o r
a d o p te d
u n f a ir
w h ic h
The m e a su re s
u n d e rta k e
No.
M o rg e n th a u a n n o u n ce d
a d d it io n a l m e a s u re s
ment c o n t r a c t s
P re ss
1936.
and
o f
a fte r
w it h
c o n tra c ts
th a t
o th e r
th e y w i l l
d a te
fo r
b id d e r s
b id d e r s
a ls o
b u ild in g
be
w ill
c o n s t r u c t io n
be
asked
o r p r o s p e c t iv e
asked
to
p re se n t
to
p r o p o s a ls
c e r t if y
b id d e r s
s im ila r
in
th e
fo r
th a t
w h ic h
th e re
a re
has
p r e p a r a t io n
a s s u ra n c e s w it h
-
re sp e ct
to
s u b c o n tra c to rs
g e n e ra l
c o n tra c to r.
to th
c o n tra c to rs
th a t
th e
p r a c t ic e s
and
In
u n d e r t a k in g
th e
event
s u b c o n tra c to rs
G o v e rn m e n t m ay a s s u r e
a re
b e in g
2
~
m e c h a n ic a l w o rk o n
a n y e v id e n c e
w ill
it s e lf
be
th a t
p u rsu e d .
— 0 O0 —
of
asked
no
th e
c o llu s io n
to
u n f a ir
b u ild in g
m ay b e
m ake r e c o r d s
and
fo r
th e
in d ic a t e d ,
a v a ila b le
d i s c r im in a t o r y
so
tra d e
Ü M 3P O R 1B
o r
D T S T IT .T .H T » L I Q U O R S
DISTILLED LIQUORS (Proof Gallons)
Stock in Customs Bonded Ware
houses at beginning
•Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
AND
W T N 35S A N D
ir c r r X B g ^ ^ ^ f f ilS ^ r f ja ^ a A - iE H K O l'T
— T A I^ O A R Y ,
December
1937
January
1937
1st 7 montile, 1T*Y«
1938
1937
4,621,995
1,082,383
5,704,378
808,665
4,944,313
1,901,121
6,845,434
2,214,123
3,426,042
1,280,400
4,706,442
1,077,908
3,807,353
11,016,920
14,824,273
9,885,415
3,702,586
10,106,708
13,809,294
10,130,764
W—WMMWn1
>59,g
4,893,270
4,621,995
3,618,938
4,893,270
3,618,938
1,552,153
224,057
1,776,210
204,475
HQfl
1,603,741
443,267
2,047,008
493,973
QQO
1,085,347
212,826
1,298,173
228,372
1.012
-inni.I
lfTliJiTfilinr
1,301,262
2,261,829
3,563,091
1,986,737
e
1,637,508
1,669,725
3,307,233
2,232,410
1,570,953
1,552,153
1,068,789
1,570,953
1,068,789
357,521
133,146
490,667
166,093
137,455
36,398
173,853
26,273
200,329
567,700
768,029
433,848
216,919
360,481
577,400
429,449
333,423
324,430
147,538
333,423
147,538
1,983,109
183,006
63,891
2,230,006
$ 5,498,625
439,931
499,182
I 6,437,738
# 2,527,410
198,901
»
78^585
# 2,804,896
24,328,496
1,765,402
1,299,933
$ 27,393,831
24,832,016
1,992,133
1,290,576
$ 28,105,725
^Exported from
Stock in Customs Bonded Ware
houses at end
STILL WINES (Liquid Gallons):
Stock in Customs Bonded Ware
houses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Exported from Quoterns Custody1
Stock in Customs Bonded Ware
houses at end
SPARKLING WINES (Liquid Gallons):
Stock in Customs Bonded Ware
houses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Exported
Stock in Customs Bonded Ware
houses at end
DUTIES COLLECTED ON:
Distilled Liquors
Still Wines
Sparkling Wines
Total Duties Collected on Liquor $
Total Dutlesr'Ciyll'ecte4
rSnTnmod44i4efl
— TOTAL DUTTl!!^^
$
324,430
31,221
355,651
21,954
------ 224—
-
ther— '
^23,962^83?
$26,192,843
23,691,285
37,713,490
21»;
(a) Including withdrawals for ship supplies and diplomatic use.
V
x9tgÿ &
January
1938
6*<
212,567,450
229,802,804
#839-,961,281.JÉ
11,10,9^7
OFFICE OF THE COMMISSIONER OF CUSTOMS
March 29, 1938.
TO MR. GASTON
FROM THE ACTING COMMISSIONER OF CUSTOMS:
There is transmitted herewith a statement showing im
ports of distilled liquors and wines, and duties collected
thereon, covering the month of January, 1938, with compara
tive figures for the months of January, 1937, and December,
1937, and the first seven months of the fiscal years 1937
and 1938, which may be suitable for press release.
1
TR EA SU R Y DEPARTM ENT
W a s h in g t o n
for
IM M E D IA T E R E L E A S E ,
T h u rsd a y ,
M a rc h
31,
C o m m is s io n
show ing
im p o r t s
c o v e r in g
th e
Ja n u a ry ,
1937,
of
o f
'
P re ss
1938.
C u s to m s J a m e s 'H .
d is t ille d
m o n th o f
liq u o r s
Ja n u a ry ,
M o y le
to d a y
a n d w in e s ,
1938,
a n d D e c e m b e r ,--1 9 3 7 ,
1937 a n d 1 9 3 8 5
S e r v ic e
No.
w it h
is s u e d
an d d u t ie s
c o m p a r a t iv e
a n d -th e - - f ir s t
~
fo r
s ta te m e n t
th e re o n ,
th e
m o n th s
f is c a l
of
y e a rs
•
1937
1937
c o lle c t e d
s e v e n -m o n th s © f th e
-
1938
f o llo w in g
f ig u r e s
J a n u a ry
D ecem ber
Ja n u a ry
th e
1 2 -8 5
1st
1938
7 m o n th s ,F .Y .
1937
D IS T IL L E D L IQ U O R S
(P ro o f G a llo n s )
S to c k i n C u s to m s
Bonded W a re h o u se s
a t b e g in n in g
T o ta l
Im p o rts
...
4 ,9 4 4 ,3 1 3
3 ,4 2 6 ,0 4 2
3 ,8 0 7 ,3 5 3
3 ,7 0 2 ,5 8 6
1 ,0 8 2 ,3 8 3
1 ,9 0 1 ,1 2 1
1 ,2 8 0 ,4 0 0
1 1 ,0 1 6 ,9 2 0
1 0 ,1 0 6 ,7 0 8
5 ,7 0 4 ,3 7 8
6 ,8 4 5 ,4 3 4
4 ,7 0 6 ,4 4 2
1 4 ,8 2 4 ,2 7 3
1 3 ,8 0 9 ,2 9 4
8 0 8 ,6 6 5
2 ,2 1 4 ,1 2 3
1 ,0 7 7 ,9 0 8
9 ,8 8 5 ,4 1 5
1 0 ,1 3 0 ,7 6 4
4 ,8 9 3 ,2 7 0
4 ,6 2 1 ,9 9 5
3 ,6 1 8 ,9 3 8
4 ,8 9 3 ,2 7 0
3 ,6 1 8 ,9 3 8
1 ,5 5 2 ,1 5 3
1 ,6 0 3 ,7 4 1
1 ,0 8 5 ,3 4 7
1 ,3 0 1 ,2 6 2
1 ,6 3 7 ,5 0 8
.2 2 4 ,0 5 7
4 4 3 ,2 6 7
2 1 2 ,8 2 6
2 ,2 6 1 ,8 2 9
1 ,6 6 9 ,7 2 5
1 ,7 7 6 ,2 1 0
2 ,0 4 7 ,0 0 8
1 ,2 9 8 ,1 7 3
3 ,5 6 3 ,0 9 1
3 ,3 0 7 ,2 3 3
2 0 4 ,4 7 5
4 9 3 ,9 7 3
2 2 8 ,3 7 2
1 ,9 8 6 ,7 3 7
2 ,2 3 2 ,4 1 0
1 ,5 7 0 ,9 5 3
1 ,5 5 2 ,1 5 3
1 ,0 6 8 ,7 8 9
1 ,5 7 0 ,9 5 3
1 ,0 6 8 ,7 8 9
3 2 4 ,4 3 0
3 5 7 ,5 2 1
1 3 7 ,4 5 5
2 0 0 ,3 2 9
2 1 6 ,9 1 9
3 1 ,2 2 1
1 3 3 ,1 4 6
3 6 ,3 9 8
5 6 7 ,7 0 0
3 6 0 ,4 8 1
3 5 5 ,6 5 1
4 9 0 ,6 6 7
1 7 3 ,8 5 3
7 6 8 ,0 2 9
5 7 7 ,4 0 0
2 1 ,9 5 4
1 6 6 ,0 9 3
4 3 3 ,8 4 8
4 2 9 ,4 4 9
3 3 3 ,4 2 3
3 2 4 ,4 3 0
1 4 7 ,5 3 8
3 3 3 ,4 2 3
1 4 7 ,5 3 8
(F re e
an d d u t i a b l e ) • . •
A v a ila b le
s u m p t io n
4 ,6 2 1 ,9 9 5
fo r Con................
E n te re d in t o Con
s u m p t io n ( a ) • • •
S to c k i n C u s to m s
Bonded W a re h o u se s
a t e n d ....................
S T IL L W IN E S
( L iq u id
G a llo n s )
S to c k i n C u s to m s
Bonded W a re h o u se s
a t b e g in n in g •• •
T o ta l Im p o rts ( F re e
a n d D u t i a b l e ) **
A v a ila b le
s u m p t io n
E n te re d in
s u m p t io n
fo r Con................
t o Con
(a ) •. •
S to c k i n C u s to m s
Bonded W a re h o u se s
a t e n d .....................
S P A R K L IN G W IN E S
( L iq u id G a llo n s )
S to c k i n C u s to m s
B onded W a re h o u se s
a t b e g in n in g • • •
T o ta l Im p o rts (F re e
and D u t ia b le ) • .
A v a ila b le
s u m p t io n
fo r Con................
E n t e r e d i n t o , . Con**
s u m p t io n ( a ) • . •
S to c k i n C u s to m s
B onded W a re h o u se s
a t e n d .....................
W I E S ÇO LLEÇTED ONr ,
d i s t i l l e d L iq u o r s $ 1 ,9 8 3 ,1 0 9
S t i l l W in e s • • . • •
1 8 3 ,0 0 6
S p a r k l i n g W in e s ..
6 3 ,8 9 1
T o ta l D u t ie s c o lle c t _on l i q u o r . . . . . . . $ 2 , 2 3 0 , 0 0 6
(a )
I n c lu d in g
w it h d r a w a ls
fo r
2 6 ,2 7 3 .
5 ,4 9 8 ,6 2 5
4 3 9 ,9 3 1
4 9 9 ,1 8 2
$
2 ,5 2 7 ,4 1 0
1 9 8 ,9 0 1
7 8 ,5 8 5
$ 2 4 ,3 2 8 ,4 9 6
1 ,7 6 5 ,4 0 2
1 ,2 9 9 ,9 3 3
$ 2 4 ,8 3 2 ,0 1 6
1 ,9 9 2 ,1 3 3
1 ,2 9 0 ,5 7 6
$ 6 ,4 3 7 ,7 3 8
$
2 ,8 0 4 ,8 9 6
$ 2 7 ,3 9 3 ,8 3 1
$ 2 8 ,1 0 5 ,7 2 5
$
s h ip
s u p p lie s
and
oO o—
d ip lo m a t ic
use.
5
»eat ©f the same extremities, or the spine, cheat, skull or entire body, consti
tutes the remaining two-thirds*
Only four percent
m
of the impairments involv
ing loss of members were permanently incapacitating, whereas
28
percent 4gg|&) 0f
the paralytic and impaired conditions resulted in permanent incapacity*
Almost one-third of orthopedic impairments are due to occupational accidents.
Home accidents resulted in one-sixth of all recorded impairments*
One-
sixth were ascribed to the automobile or other accidents in public places*
Ap
proximately one-third of impairments are the result of dlsease, while congenital
conditions account for about 5 1
/
Two-thirds of the eases
c impairment due to disease were caused
by the following conditions in their order of impoatance: (1) paralysis and apop- I
lexy; (2) infantile paralysis; (3) arthritis and other rheumatic conditions,
bis-1
ease* of the bones, Joints» local Infections and diabetes are causes of impairments
also» but to a lesser extent*
In this study, new light Is thrown on the seriousness of certain condition!
which ma;
i masked
In the total load of current sickness and disability*
for
example, the annual incidence of infantile paralysis and the deaths due to this
cause are relatively' low in comparison with other infectious diseases*
Unim
portant as this disease is numerically in any one year, its permanent effects
accumulate, year after year*
The national Health Survey Is able to estimate the
appalling residual effects of poliomyelitis as applied to the whole population*
It is found that, as a result of the accumulating impairments from polio, there
are at least 17 5 * 0 0 0 individuals in our country afflicted with permanent impair
ment« from this cause alone*
h,
Th« loss of members— arms and logs as well as fingers— is iH times as
prevalent among males 1 5 -6 1* years as among those under 1 5 years of age, while
the rate for the female adult group Is only 5 times as great.
XMPAISMMYS A1JD INCAPACITY CONCENTRATED AMONG POOR
Permanent orthopedic impairments were found almost three times as often
among persons on relief as among persons in families with incomes of $3,000 and
The non-relief population with incomes of less than $1,000 reported impairJ
ments more than twice as frequently as the higher income group.
line income population ($1,000—$2,000) did not fare much betters
Sven the border-1
Impairments
were found one and a half times as frequently in this group as in among the
well-to-do.
Incapacitated cases are more heavily concentrated among the relief and
low-income groups than are the total cases of impairment.
Incapacity from these
conditions is shown to be almost four times as great among relief recipients and I
two and a half times as great in low income groups as among the highest income
The National Health Survey has estimated at least one and one-quarter
billion days lost annually from normal activity in the United States because of
serious Illness or injury.
Of this staggering total, a minimum of 170,000,000
days is lost yearly from work in industry or business, from home-making or from
sbhool as a result of orthopedic conditions.
This represents 1 3 percent of the
total time-loss in the United States because of sickness or injury lasting a
week or longer.
PRINCIPAL CAUSES OP IHPAIBKBOT8
—
The loss of fingers, hands, arms, feet or legs or any portion of the ex
tremities, constitutes one-third of orthopedic impairments.
Paralysis or impair-
3.
tating impairments are l6 times as frequent in the elder group as in the younger
The prevalence rate of lost extremities Increases hut slowly until the late
teens when there is a sharp increase through the middle twenties*
This rise is
I
due largely to the loss of fingers; loss of fingers occurs predominantly among
males*
Hence» the Survey points out a possible relationship between this in-
A'
crease among young adults and the occurrence of industrial accidents among young, I
untrained workers*
The accumulation of Impaired members in the population begins early In
life and continues through the first 10 years*
from
10 years until the middle
twenties, the increase is slow; from the twenties on, the increase of Impaired
members accelerates and the accumulation ie steady*
The Survey explains this
situation by showing the causes of impairment (loss of use, not loss of a mem
ber) by age— eongenital defects discovered in infancy and the heavy toll of
poliomyelitis in childhood accounts for the early accumulation of impaired mem-
I
hers; among older people, the Increasing amounts of occupational and home ac-
I
cldents and apoplexy operate to produce impairments*
Seventy percent (70$) of all crippled persons are males, 1,*$00,GOO
males of the working ages (1 5 - 6*0 being so handicapped*
fine of every hundred
males over 6 5 years of age are burdened with such impairments, as compared with
five of every hundred females In the same age group*
The rates for males are
not only higher for all ages, but for all types of orthopedic impairments, el thou«
the excess of impaired members among males Is less than the excess of lest mem
bers*
A* in the case of the sex distribution of current accidents, previously
reported by the Survey (March 13), the high rates of orthopedic Impairments for
males are considered due to the greater physical activity of men and boys*
2
of handicapping condition* throughout the entire life-span.
erage hi
_ _
on a given day in the United States.
Suppose 1 .0 0 0 av
By the time the 1,000
are a year old, orthopedic impairment* will hare been detected in a certain
proportion of the!«^•results of birth injury or congenital
the group is ten year* old, the proportion of permanent impaijment* will have
been added to— largely the result of infantile paralysis.
elder«^Increasingly
A* the group grow*
exposed to other environmental factor*— accident*
at home, from automobile*, and in industry, for example,
hater on, diseases
of adult lift— apoplexy and arthritie— add to the accumulated total of pensar*
nent impairment.
With each year, another load of handicaps Is added to the ac
cretion, until in the last years of life, we have a composite picture of per
manent orthopedic impetra»**« existing throughout the lifetime of the group.
Obviously, it would be impossible to take a group of newborn babies
falI
low them throughout their lives, recording the piling-up of impairments.
€
But, within the population of the United States, we can view the entire life
span of an average individual; in this study, the National Health Survey ap
plies not to a single Individual or a small group, but to the entire popular*
tlon of the United States.
Hence* it is estimated that today, two of every
hundred Americans have, at some time in their lives, experienced a permanent
handicap as a result of injury or disease . 1
/
0
A
ALL M S S SÜPFIR XHPAXBMHHfS
Each age group contributes to the total of permanent orthopedic im
pairments.
According to further estimates of the National Health Survey, over
210,OCX) children under 15 year# of age suffer these afflictions— 120,000 of
them are boys; 90,000, girls.
the ages of 1 5 and
Sk
Almost 1,900,000 adolescents and adults between
years, and 5 0 0 |p0 0 older person# are handicapped to some
extent.
All orthopedic impairments are 1 1
times as prevalent among older peo
ple ( 6 5 years and over) as among those under 1 5 years of age, but the incapaci-
T
' ST\
y /--X
' "/ Y
N,H«S.— Orthopedic Impairments
^
.
___________
TOE RELEASE:
-A1 A >!i
|leu apap w r
-fcmdaK^April^^-1938
. iiS
- '
TREASURY DEPARTMENT
U. S. Public Health Service
Washington, D.O.
”/ / % ( ’
Half a million persons in the United States are permanently inca»
pacitated by crippling conditions to the extent that they cannot work or
go to echool or perform the usual activities of a healthy individual«
In
addition, more than two million other persons have, at some time in their
lives, experienced a loss or permanent Impairment of the extremities or
irTl<>$€. C o ^ c / u S /
<
t r a ’frhnv1mu ife^T'esemtaaBteteagaSE on national ^
0.
t
o u
<1 £ |JL ^
bUL/
^
health ral enej^tFggajTby t h e ^ 0 « ) Public Health Service ** a reporf"from
the National Health Survey conducted in 1935-36.
The bulletin is a study
of permanent orthopedic impairments in the general population«
i.
//
Everyone is familiar
VMvS
x
S» r
^Tr'fict I,SaJs^?.mil11J
*t1a / ^tTh
/
)
he serious crippling conditions readily
r
observed in persons who have lost an arm or leg, who are totally paralysed,
or who were bora with a clubfoot.
500,000
The Survey, however, reveals that while
Americans are permanently disabled by such conditions, a much
greater number have at some time in their lives experienced the less or
permanent impairment of a member or some part of the body which caused a
certain amount of disability and required some adjustment In their active
existence«
ing serious*
Such impairments do not strike the public consciousness as be
The loss of fingers and toes, the partial paralysis of a
hand or of the face, permanent injury to the arm muscles
cut are ia-
pairments falling in this category and which, according to the Survey, af
flict some 2,100,000 individuals in the United States«
^fhe especial interest of this report from the National Health Survey
is that It pictures the endure suits of accidents and certain diseases over
the lifetime
of
the population, as compared with previous reports on the cur
rent frequency of accidents and disabling illness«
It reveals the accumulation
:d epartm
P u b l i c H e a lt h
tr easu ry
U.
S.
ent
S e r v ic e
W a s h in g t o n
F O R R E L E A S E , A F T E R N O O N N E W S P A P E R S ,;
M onday, A p r il 4 , 1938.
P r e s s S e r v ic e
N o. 1 2 -8 6
4 /2 /3 8 .
H a lf
ta te d
by
school
m o re
c r ip p lin g
o r p e rfo rm
th a n
p e rso n s
in
th e
U n it e d
S ta to s
c o n d it io n s
to
th e
e x te n t
th a t
th e
a lo s s
o r p e rm a n e n t
c o n c lu s io n s
U n it e d
S ta te s P u b lic
H e a lt h
S u rv e y
o r t h o p e d ic
at
im p a ir m e n t
of
p e r m a n e n t ly
th e y
a h e a lt h y
have,
im p a ir m e n t s
c r ip p lin g
w ho
a re
h o w e v e r,
such
is
so m e
th e
c o n d it io n s ,
th e
b o d y w h ic h
t h e ir
caused
cannot
w o rk
in d iv id u a l.
t im e
in
or
o r go
In
t h e ir
e x t r e m it ie s
in c a p a c i
to
a d d it io n ,
liv e s ,
ex
so m e p a r t
of
of
a re
im p a ir m e n t s
a f f lic t
a hand o r
som e
"T h e
th a t
it
w h ile
e x is t e n c e .
f a llin g
2 ,1 0 0 ,0 0 0
e s p e c ia l
p ic t u r e s
b a s is
Such
in
of
t o d a y "by t h e
a re p o rt
is
in
S e r v ic e
p e rso n s
a
fro m
s tu d y
The
A m e r ic a n s
im p a ir m e n t
of
th e
N a t io n a l
o f p e rm a n e n t
lo s s
of
t in e
and
not
o f f in g e r s
in
in ju r y
t h is
e n d - r e s u lt s
of
th e
re p o rt
in
to
fro m
a c c id e n t s
a rm
The
or
le g ,
S u rv e y ,
d is a b le d
t h e ir
by
liv e s
so m e p a r t
som e
of
ex
th e
a d ju s tm e n t
s t r ik e
th e
p u b lic
to e s ,
th e
p a r t i a l p a r a ly
th e
U n it e d
s e r io u s
an
r e q u ir e d
and
c a t e g o r y a n d w h ic h ,
in d iv id u a ls
lo s t
a m em ber o r
do
th e
p e r m a n e n t ly
som e
d is a b ilit y
p e rm a n e n t
t h is
of
‘' w i t h
a. c l u b f o o t .
a re
at
im p a ir m e n t s
s a id ,
w ho h a v e
w it h
num ber h ave
am ount
in t e r e s t
th e
H e a lt h
5 0 0 ,0 0 0
fa c e ,
announced
The b u lle t i n
o b se rv e d
s e r io u s .
th e
th e
o r who w e re b o r n
a c e r t a in
of
on
w e re
g e n e r a l p o p u la t io n .
o r p e rm a n e n t
a s b e in g
s is
th e
a m uch g r e a t e r
lo s s
a c t iv e
c io u s n e s s
in
r e a d ily
th a t
h e a lt h
1 9 3 5 —3 6 .
p a r a ly z e d ,
r e v e a ls
p e r ie n c e d
in
S e r v ic e
f a m ilia r , 0 th e
c o n d it io n s
t o t a lly
on n a t io n a l
H e a lt h
c o n d u c te d
fTE v e r y o n o
is
o th e r p e rso n s
of
a rc
body.
Those
in
u s u a l a c t iv it ie s
tw o m i l l i o n
p e r ie n c e d
th e
.a m i l l i o n
a rm m u s c l e s
a c c o r d in g
to
cons
fro m
th e
a
cut
S u rv e y ,
S ta te s .
th e N a t io n a l
and
c e r t a in
H e a lt h
d is e a s e s
S u rv e y
over
2 -
th e
lif e t im e
cu rre n t
th e
th e
fre q u e n c y
m u la t io n
1 .0 0 0
of
a v e ra g e
1 ,0 0 0
a re
a c c id e n t s
a re
a year
o ld ,
th e
t im e
im p a ir m e n t s w i l l
g ro u p
of
th e
have
g ro w s
to
e x a m p le *
b o rn
o n a g iv e n
been
is
th e
lo a d
a c c u m u la t e d
of
h a n d ic a p s
we h a v e
a
is
th e
it s
and f o llo w
B u t,
w it h in
span
of
an
be
of
a r e s u lt
S ta te s .
of
age g ro u p
m e n ts .
A c c o r d in g
2 1 0 .0 0 0
c h ild r e n
to
liv e s ,
in
t h is
or
to
th e
lif e - s p a n .
S ta te s .
r e s u lt
of
in
and
th e
in
p e rm a n e n t
to
in
t im e
d e fe c t*
in f a n t ile
and
p a r a ly s is .
o th e r
en
in d u s t r y ,
a r t h r it is — add
each
th e
Suppose
d e te c te d
of
exposed
W it h
u n t il
been
accu
By
c o n g e n it a l
a u t o m o b ile s ,
S ta te s ,
stu d y ,
a
y e a r,
la s t
a n o th e r
y e a rs
im p a ir m e n t s
of
lif e ,
e x is t in g
in
t h e ir
fu rth e r
S u ffe r
to
th e
e s t im a t e s
u n d e r 15 y e a rs
of
N a t io n a l
e s t im a t e d
liv e s ,
of
th e
e n t ir e
H e a lt h
to
th e
to d a y ,
e x p e r ie n c e d
im p a ir m e n t s .
lif e
S u rv e y
e n t ir e
tw o
popu
of
e v e ry
a p e rm a n e n t
d is e a s e . n
Ages
c o n t r ib u t e s
n e w b o rn b a b ie s
we c a n v ie w
th a t
so m e t i m e
of
th e p ilin g - u p
but
is
or
th e
a g ro u p
s m a ll g r o u p ,
it
in ju r y
ta k e
r e c o r d in g
H ence,
A ll
Each
th e
im p a ir m e n t .
a c c r e t io n ,
in d iv id u a l
at
r e v e a ls
p r o p o r t io n
l i f e — a p o p le x y
t h e U n it e d
in d iv id u a l;
have,
th e
or
in c r e a s in g ly
im p o s s ib le
p o p u la t io n
th e U n it e d
as
w o u ld
s in g le
in ju r y
th e
th e g ro u p .
th e
a
on
U n it e d
o f p e rm a n e n t o r t h o p e d ic
t h e ir
h u n d r e d A m e r ic a n s
h a n d ic a p
of
th e
e n t ir e
th e
o ld ,
fro m
a d u lt
o f p e rm a n e n t
th ro u g h o u t
a v e ra g e
a re
hom e,
of
th e m
n o t to
of
d is e a s e
p ic t u r e
it
y e a rs
to — la r g e ly
at
in
o f b ir t h
m e m b e rs
added to
lif e t im e
’’ O b v i o u s l y ,
la t io n
to ta l
c o m p o s it e
th ro u g h o u t
a p p lie s
on,
te n
added
th e
It
re p o rts
im p a ir m e n t s w i l l h a v e
th e m — r e s u l t s
g ro u p
day
p r e v io u s
illn e s s .
th ro u g h o u t
o r t h o p e d ic
o ld e r ,
L a te r
co m p a re d w it h
an d d is a b lin g
v ir o n m e n t a l . f a c t o r s — a c c id e n t s
fo r
as
c o n d it io n s
b a b ie s
p r o p o r t io n
HB y
th e
of
o f h a n d ic a p p in g
a c e r t a in
As
p o p u la t io n ,
age
of
I m p a ir m e n t s
to ta l
o f p e rm a n e n t
th e N a t io n a l
s u ffe r
th e s e
o r t h o p e d ic
H e a lt h
S u rv e y ,
im p a ir
over
a f f l i c t i o n s — 1 2 0 ,0 0 0
of
3
th e m
th e
a re
"b o ys;
ages
of
9 0 ,0 0 0 ,
15 and
g ir ls .
64 y e a rs ,
A lm o s t
and
1 ,9 0 0 ,0 0 0
5 0 0 ,0 0 0
a d o le s c e n t s
o ld e r
p e rso n s
a re
t im e s
a s p r e v a le n t
and
a d u lt s
b e tw e e n
h a n d ic a p p e d
to
so m e
e x te n t.
A ll
(6 5
y e a rs
t a t in g
and
te e n s
r is e
is
d o m in a n t ly
b e tw e e n
and
a re
16
in c r e a s e
to
by
of
in c r e a s e
m e m b e rs;
in
is
and
th e
th e
th e
and
m e m b e rs
of
th e
th e
w o r k in g
ages
over
65 y e a r s
f iv e
of
a re
not
a lt h o u g h
of
of
a ll
to
age
b u rd e n e d
f e m a le s
o n ly
h ig h e r
fo r
th e
excess
of
a ll
in
fo r
so
in
of
out
th e
in c a p a c i
as
but
th e
u n t il
t w e n t ie s *
f in g e r s
o c cu rs
a p o s s ib le
of
in
s lo w ly
m id d le
t h e p o p u la t io n
th e
p re
r e la t io n s h ip
in d u s t r ia l
but
S u rv e y
th e
of
lo s s
t o ll
a c c u m u la t io n
m id d le
im p a ir e d
e x p la in s
not
heavy
th e
of
in
of
t h is
m e m b e r)
of
im p a ir e d
o c c u p a t io n a l
a n d hom e
im p a ir m e n t s .
such
H it
a re
m a le s ,
N in e
of
a ll
g ro u p .
1 ,4 0 0 ,0 0 0
e v e ry
im p a ir m e n t s ,
sam e a g e
m e m b e rs
and
e a r ly
u n t il
in c r e a s e
of use,
a m o u n ts o f
p e rso n s
fo r
th e
The
( lo s s
b e g in s
10 y e a r s
on,
e a r ly
H a rd e st
w it h
F ro m
s te a d y ,
h a n d ic a p p e d .
th e
ages,
im p a ir e d
th e
o c cu rre n ce
in f a n c y
p ro d u c e
c r ip p le d
b e in g
e v e ry h u n d re d
is
in c r e a s in g
(1 5 -6 4 )
a re
in c r e a s e s
t w e n t ie s
im p a ir m e n t
a c c o u n ts
th e
in
10 y e a r s .
M a le s
S e v e n ty p e rc e n t
but
o ld e r g ro u p
lo s s
th e
am ong o ld e r p e o p le
w o rk e rs.
a c c u m u la t io n
a p o p le x y o p e r a t e
age,
th ro u g h
f in g e r s ;
a d u lt s a n d
d is c o v e r e d
c h ild h o o d
th e
S u rv e y p o in t s
fro m
causes
of
e x t r e m it ie s
of
f ir s t
s lo w ;
am ong o ld e r p e o p le ,
a c c id e n t s
th e
in
in c r e a s e
lo s s
im p a ir e d
a g e — c o n g e n it a l d e f e c t s
p o lio m y e lit is
sh a rp
th e
15 y e a rs
fre q u e n t
lo s t
u n t r a in e d
th ro u g h
s h o w in g
a
H ence,
a c c u m u la t io n
a c c e le r a t e s
s it u a t io n
is
of
11
under
as
am ong y o u n g
am ong y o u n g ,
th e
t im e s
th e re
a re
th o se
ra te
la r g e ly
c o n t in u e s
t w e n t ie s ,
by
am ong
am ong m a le s .
The
m e m b e rs
as
w hen
due
t h is
a c c id e n t s
lif e
im p a ir m e n t s
T h e p r e v a le n c e
la t e
T h is
o v e r)
im p a ir m e n t s
y o u n g e r.
th e
o r t h o p e d ic
The
as
m a le s
of
h u n d r e d m a le s
co m p a re d w it h
ra te s
fo r
ty p e s
of
o r t h o p e d ic
am ong m a le s
is
le s s
th a n
m a le s
im p a ir m e n t s ,
th e
excess
o f lo s t
m e m b e rs.
p r e v io u s ly
As
re p o rte d
im p a ir m e n t s
fo r
in
by
m a le s
th e
th e
a re
case
of
S u rv e y
th e
sex
(M a rch
c o n s id e r e d
d is t r ib u t io n
1 3 ),
due
to
th e
th e
h ig h
of
cu rre n t
ra te s
of
a c c id e n t s ,
o r t h o p e d ic
g re a te r p h y s ic a l a c t iv it y
of
men a n d b o y s .
The
p r e v a le n t
th e
ra te
lo s s
of
m e m b e rs— a rm s
am on g m a le s
fo r
th e
1 5 -6 4 y e a rs
f e m a le
a d u lt
I m p a ir m e n t s
P e rm a n e n t
am o n g p e r s o n s
and m o re .
and
o r t h o p e d ic
on r e lie f
as
as
g ro u p
and
le g s
am ong
is
m o re
th a n
am ong p e r s o n s
in
in c o m e p o p u l a t i o n
m e n ts w e re
fo u n d
and
u n d e r 15
fo u n d
as
of
w h ile
t im e s
o fte n
$ 1 ,0 0 0
re p o rte d
in c o m e
g ro u p .
Even
d id
not
fa re
in
of
as
th a n
( $ l, 0 0 0 - $ 2 , 0 0 0 )
f r e q u e n t ly
th re e
le s s
h ig h e r
as
age,
as
in c o m e s
th e
t im e s
of
t im e s
w it h
as
a h a lf
y e a rs
14
g re a t.
a lm o s t
f a m ilie s
in c o m e s
a s f r e q u e n t ly
f in g e r s — i s
C o n c e n t r a t e d Am ong P o o r
w e re
t w ic e
as
5 t im e s
im p a ir m e n t s
b o r d e r lin e
one
o n ly
w it h
w e ll
th o s e
I n c a p a c it y
The n o n - r e lie f p o p u la t io n
im p a ir m e n t s
as
$ 3 ,0 0 0
m uch b e t t e r ;
t h is
g ro u p
as
th e
im p a ir
in
am ong
th e w e ll- t o - d o .
I n c a p a c it a t e d
lo w - in c o m e
th e s e
g ro u p s
c o n d it io n s
cases
th a n
is
a re
show n
a re
m o re h e a v i l y
th e
to ta l
to
be
cases
a lm o s t
c o n c e n tra te d
of
fo u r
h ig h e s t
in c o m e
g r o u p ($ 3 ,0 0 0
and
b illio n
of
days
s e r io u s
days
is
to ta l
y e a r ly
a r e s u lt
t im e - lo s s
w eek o r
a n n u a lly
illn e s s
lo s t
school as
lo s t
lo n g e r .
in
H e a lt h
or
fro m
of
th e
S u rv e y h as
fro m
in ju r y .
w o rk
r e lie f
I n c a p a c it y
as g re a t
in c o m e g r o u p s
as
and
fro m
am ong r e l i e f
re
am ong th e
in
H a n d ic a p s
e s t im a t e d
at
le a s t
n o rm a l a c t i v i t y
in
th e U n it e d
O f t h is
o r t h o p e d ic
U n it e d
lo w
th e
m o re ).
T im e - lo s s F ro m
The N a t io n a l
im p a ir m e n t .
t im e s
cipients a n d t w o a n d a h a l f t i m e s a s g r e a t i n
am ong
s t a g g e r in g
in d u s t r y
or
c o n d it io n s .
S ta te s
because
t o t a l,
b u s in e s s ,
T h is
of
one
and o n e -q u a r te r
a m in im u m
fro m
or
of
because
1 7 0 ,0 0 0 ,0 0 0
h o m e - m a k in g
re p re s e n ts
s ic k n e s s
S ta te s
13 p e rc e n t
in ju r y
or
fro m
of
la s t in g
th e
a
P r in c ip a l
The
lo s s
e x t r e m it ie s ,
im p a ir m e n t
in v o lv in g
of
th e
th e
th e
lo s s
A lm o s t
O n e - s ix t h
of
caused
and
th e
d it io n s .
r e s u lt e d
account
of
th e
f o llo w in g
cases
th e
In
t h is
new
stu d y ,
in f e c t io u s
it s
m u la t in g
to
d is e a s e s .
a b le
to
th e
to
a f f lic t e d
e ffe c ts
w it h
(3 )
jo in t s ,
b e m asked
U n im p o r t a n t
fro m
t h e ir
in
p o lio ,
p e rm a n e n t
of
due
a ll
or
or
hody,
im p a ir m e n t s
28 p e r c e n t
in c a p a c it y .
o c c u p a t io n a l
re c o rd e d
of
e n t ir e
w h e re a s
to
th e
P a r a ly s is
th e
a c c id e n t s
r e s u lt
lo c a l
in
im p a ir m e n t s . .
p u b lic
d is e a s e ,
p la c e s .
w h ile
con
is
th e re
of
to
d is e a s e
im p o r t a n c e :
and
o th e r
in f e c t io n s
th e
( l)
w e re
p a r a ly s is
r h e u m a t ic
and
s e r io u s n e s s
to ta l
lo a d
in c id e n c e
lo w
year
d ia b e t e s
at
im p a ir m e n t s
of
con
a re
is
in f a n t ile
e ffe c ts
s ic k n e s s
in
an y one
H e a lt h
o f p o lio m y e lit is
a r e s u lt
le a s t
1 7 5 ,0 0 0
cause
of
th e
in d iv id u a ls
a lo n e .
and
o th e r
The N a t io n a l
as
t h is
con
p a r a ly s is
w it h
n u m e r ic a lly
y e a r.
c e r t a in
cu rre n t
th a t,
fro m
of
c o m p a r is o n
a fte r
r e s id u a l
fo u n d
of
in
d is e a s e
a re
due
e x te n t.
on
t h is
a p p a llin g
It
a re
o rd e r
r e la t iv e ly
a c c u m u la t e «
th e
of
p e rm a n e n t
im p a ir m e n t
th e
annual
as
in
a r t h r it is
th ro w n
w h o le p o p u l a t i o n .
im p a ir m e n t s
in
is
a re
s k u ll
of
5 p e rc e n t.
lig h t
th e
c h e s t,
o th e r
th e
a le s s e r
cause
e s t im a t e
a re
to
e x a m p le ,
t h is
p e rm a n e n t
is
a p p lie d
due
Dor
or
but
m ay o t h e r w is e
a h y , p o r t io n
in c a p a c it a t in g ,
o n e - s ix t h
p a r a ly s is ;
bon es,
a ls o ,
d e a th s
s p in e ,
o r t h o p e d ic
c o n d it io n s
in f a n t ile
of
of
or
im p a ir m e n t s .
im p a ir m e n t s
in
about
le g s
r e s u lt e d
a u t o m o b ile
fo r
im p a ir m e n t s
th e
c o u n try
o r t h o p e d ic
im p a ir m e n t s
d is a b ilit y .
S u rv e y
of
c o n d it io n s
o f
and
y e a r,
im p a ir e d
or
O n ly f o u r p e r c e n t
o n e - t h ir d
D is e a s e s
w h ic h
th e
t w o - t h ir d s .
of
d it io n s
or
th e
( 2)
fe e t
o r t h o p e d ic
to
a p o p le x y ;
causes
and
c o n d it io n s
by
of
a s c r ib e d
T w o - t h ir d s
I m p a ir m e n t s
m e m b e rs w e re p e r m a n e n t ly
o n e - t h ir d
w e re
of
a rm s ,
e x t r e m it ie s ,
Home a c c i d e n t s
A p p r o x im a t e ly
g e n it a l
sam e
hands,
o n e - t h ir d
r e m a in in g
p a r a ly t ic
a c c id e n t s .
f in g e r s ,
c o n s t it u t e s
of
c o n s t it u t e s
of
C auses
as
accu
in
our
JBHEB3SL
February
January
..
*xsnii*£D ix
.j (Proof ceiioae)
Stock is Customs Bonded far»*
booses st beginning
Total imports |Free- and Dutiable)
Available for Consumption
Betered into consumption (a)
'"Stock in Customs Bonded tars*
bootee st sad
3TXU. U S * 3 (Llquia GmUotm):
Stock in Customs Bonded fere*
bouses st beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
'S*p®rted'-frw^stemai "tamMiL».
Stock In Customs Bonded fere*
bouses st end
S F A S K U B S S I S 3 (U<JUia Gallop.a 1 1
Stock in Customs Bonded ferebouse s at beginning
Total Imports (Free and Dutiable}
Available for Consumption
m t e r e d into Consumption (e)
■-gsgorted^rem----'Cuete«»^Cuete^
Stock in Customs Bonded farebouses at end
4,893,210
777,736
5,671,006
744,870
Jfc m
r.*tntt.
4,621,993
1,082,363
3,734,378
808,663
■•"-■
‘
« 4MN8»»
3,618,938
1,304,394
4,923,332
1,077,374
3,832,987
4,923,971
4,893,890
1,570,953
183,548
1,724,501
188,701
1,068,788
1,M2,133
224,057
210,776
1,776,210
1,297,563
211,405
204,475
FSQft ,,
*
1,535,479
1,870,933
m r a s s couuscnD
r
3,807,353
U , 794,636
19,602,009
10,630,085
w; ,^»wddtf88i3w
4,923,971
3,832,987
1,301,262
2,413,877
3,716,639
2,175,439
«*•
8 y 680 b***<
»0
1,637,308
1,880,901
3,518,009
2,443,813
'$¿086***’
1,538,479
1,068,108
324,430
31,221
355,651
21,934
« J M m
147,338
39,337
186,875
18,132
200,329
586,551
786,800
453,861
216,919
399,818
616,737
447,601
331*816
333.423
168*692
331.816
168.692
1,983,109 ♦ 8,69S,8£9 # 26,161,936
1,931,082
183,006
188,618
1.398.91*
as.osi
63.891
33.712
f
8,899,893“
f 29,491,838
§ £,£30,00«
M*
y*•*»>■*•--**-t%*.He,x«v«Ai^jV
| 27,498,239
2,180,751
1.344.288
<I 31,003,278
# 1.833,440
163,680
9
234.713*030
£68.631.292 \
¿264,164,362 " '
i
1299,634,570 \
B * SI
10.3d i
vv*,
w^
w*»*.«**
(Prepared fey Division of Statist!os 4 nesearcb, Bar««» of Customs}^
^99WW9WWWW?9IB*BW0s,
3,702,586
11,411,102
16,113, M S
11,208,338
1,068,108
38.828*458
£2.145*580
£3.962.839
#24,203,£81 128,192,843 #41,726,041
__Percent Collected on Liquors
8.3d
8.9*
6« 96
^ fjj Including withdrawals for skip supplies and diplomatic use.
total
1209
U t @ meatbej
J U I ________ 1937
325,425
18,851
352,£74
20,015
,Hbi8ww^
W n W m lM a t m W r m
Distilled liquors
Still Wines
Sparkling lines
Total Duties Collected on liquor
M I S i 1IwsXSv
«81 ¥«807
Commodities
February
TR EA S U R Y DEPARTM ENT
W a s h in g t o n
p re ss
RELEASE,
A p r il 4 ,
2Ìo.
1938,
C o m m i s s io n e r o f
ment s h o w in g i m p o r t s
c o v e r in g
th e
February,
1937 a n d
of
C u s to m s Ja m e s H .
d is t ille d
m o n th o f F e b r u a r y ,
1937,
and Ja n u a ry ,
1 9 5 8 :___________
liq u o r s
1938,
1938,
w it h
and
to d a y
is s u e d
and d u t ie s
c o m p a r a t iv e
f ig u r e s
th e
f o llo w in g
c o lle c t e d
fo r
th e
1938
s ta te
th e re o n ,
m o n th s o f
the first eight months of the fiscal
'_____________ ' ?
F e b ru a ry
Ja n u a ry
1938
M o y le
a n d w in e s ,
S e r v ic e
Ì2 ^ 8 0 a
y e a rs
_________________________________ • . :...
F e b ru a ry
1 s t 8 m o n th s ,F .Y .
1% £7_________
1 9 3 8 _________
1937
D IS T IL L E D L IQ U O R S
(P ro o f G a llo n s )
S to c k i n C u s to m s . .
Bonded W a re h o u s e s
a t b e g in n in g
....
T o ta l Im p o rts
E n te re d
•••
fo r
s u m p t io n
in t o
3 ,6 1 8 ,9 3 8
3 ,8 0 7 ,3 5 3
3 ,7 0 2 ,5 8 6
7 7 7 ,7 3 6
1 ,0 8 2 ,3 8 3
1 ,3 0 4 ,3 9 4
1 1 ,7 9 4 ,6 5 6
1 1 ,4 1 1 ,1 0 2
5 ,6 7 1 ,0 0 6
5 ,7 0 4 ,3 7 8
4 ,9 2 3 ,3 3 2
1 5 ,6 0 2 ,0 0 9
1 5 ,1 1 3 ,6 8 8
7 4 4 ,6 7 0
8 0 8 ,6 6 5
1 ,0 7 7 ,5 7 4
1 0 ,6 3 0 ,0 8 5
1 1 ,2 0 8 ,3 3 8
4 ,9 2 3 ,9 7 1
4 ,8 9 3 ,2 7 0
3 ,8 3 2 ,9 8 7
4 ,9 2 3 ,9 7 1
3 ,8 3 2 ,9 8 7
1 ,5 7 0 ,9 5 3
1 ,5 5 2 ,1 5 3
1 ,0 6 8 ,7 8 9
1 ,3 0 1 ,2 6 2
1 ,6 3 7 ,5 0 8
1 5 3 ,5 4 8
2 2 4 ,0 5 7
2 1 0 ,7 7 6
2 ,4 1 5 ,3 7 7
1 ,8 8 0 ,5 0 1
1 ,7 2 4 ,5 0 1
1 ,7 7 6 ,2 1 0
1 ,2 9 7 ,5 6 5
3 ,7 1 6 ,6 3 9
3 ,5 1 8 ,0 0 9
1 8 8 ,7 0 2
2 0 4 ,4 7 5
2 1 1 ,4 0 5
2 ,1 7 5 ,4 3 9
2 ,4 4 3 ,8 1 5
1 ,5 3 5 ,4 7 9
1 ,5 7 0 ,9 5 3
1 ,0 6 8 ,1 0 8
1 ,5 3 5 ,4 7 9
1 ,0 6 8 ,1 0 8
3 3 3 ,4 2 3
3 2 4 ,4 3 0
1 4 7 ,5 3 8
2 0 0 ,3 2 9
2 1 6 ,9 1 9
1 8 ,8 5 1
3 1 ,2 2 1
3 9 ,3 3 7
5 8 6 ,5 5 1
3 9 9 ,8 1 8
3 5 2 ,2 7 4
3 5 5 ,6 5 1
1 8 6 ,8 7 5
7 8 6 ,8 8 0
6 1 6 ,7 3 7
2 0 ,0 1 3
2 1 ,9 5 4
1 8 ,1 5 2
4 5 3 ,8 6 1
4 4 7 ,6 0 1
Con-
• • • » ..* •
s u m p t io n
4 ,6 2 1 ,9 9 5
(F re e
and d u t i a b l e )
A v a ila b le
4 ,8 9 3 ,2 7 0
Con-
(a )
....
S to c k
i n C u s to m s
Bonded W a re h o u se s
at
e n d ....................... .
S T IL L W IN E S
( L iq u id
S to ck
G a llo n s )
in
C u sto m s
Bonded W a re h o u se s
a t b e g in n in g
....
T o ta l Im p o rts
(F re e
and D u t ia b le )
A v a ila b le
fo r
s u m p t io n
E n te re d
...
Con-
.. .. .. ..
in t o . Con—
s u m p t io n
(a )
....
S to c k i n C u s to m s
B onded W a re h o u se s
at
end
. . . . . . . . . .
S P A R K L IN G W IN E S
( L iq u id
S to c k
G a llo n s )
in
C u sto m s
B o n d e d W a re h o u se s
at
b e g in n in g
...
T o ta l
Im p o rts
(F re e
and D u t ia b le )
A v a ila b le
fo r
s u m p t io n
E n te re d
S to c k
in
Con-
................
in t o
s u m p t io n
•.
Con-
(a )
...
C u sto m s
B o n d e d W a re h o u se s
1 6 8 ,6 9 2
a t e n d ................5 3 1 , 8 1 6
3 5 3 ,4 2 3
1 6 8 ,6 9 2
3 3 1 ,8 1 6
T O E S C O L L E C T S ) "O N T ;
7
I
I
I
$ 2 7 ,4 7 8 ,2 3 9
D i s t i l l e d L iq u o r s
$ 1 ,8 3 3 ,4 4 0 $
1 ,9 8 3 ,1 $
0 92 ,6 5 5 ,2 2 3 $ 2 6 ,1 6 1 ,9 3 6
1
0
8
|
6
1
8
1
,
9
3
1
,
0
8
2
2 ,1 0 0 ,7 5 1
S t i l l W in e s * * • • •
1 6 5 ,6 8 0
1 8 3 ,0 0 6
2
1 , 3 5 8 , 5 1 4 ________ 1 , 3 4 4 , 2 8 8
, 839, 71 1____________________
^ S p a r k li n g W i n e s . • ________ 5 8 , 5 8 1 _________________________6 3 5
- e a ^ n ^ lia ^ r 0^ . ! ^
2 .0 5 7 .7 0 1 $
) i n c lu d in g w it h d r a w a ls f o r s h ip
a
2 .2 3 0 ,0 0 6
$ 2 .8 9 7 ,5 5 3 $ 3 9 ,4 5 1 ,5 3 3
s u p p lie s a n d d ip lo m a t ic u s e .
$
3 1 .0 0 3 ,2 7 8
fiMIffr
M t M U m
W a s h in g t o n
fo t
t o s a s i,
wmim mmpà&m®.
Press Bervi se
Taasday» Aprii 5. 1958,
4/4/38
)
^
^
fi» Seeretery ©f thè Tre&sury armounoed laet eveniag that thè
tendere far 4100,000,000, or thereabeuts, of 91-day Treasury bill«, to
be datai Aprii 6 and ma turi ng Jaljr 6, 1958, which were offered on Aprii 1,
vere opened at thè M a r a l Reserve batik« on Aprii 4*
thè d et alla of ibis la sue are aa fellema:
total applied for
total aeecpted
*
*
Haag e o f aeeepted bids:
High
-
Lee
Average prie®
«
•
#199,200,000
100,325,000
99,980
99,943
99,945
Squivalent rate approximately 0,099 percent
*
»
«
«
«
«
0*144
0 ,1 5 9
(SS pereeat ef thè amount bid for at thè low priee waa aeeepted)
«
*
TR EA SU R Y DEPARTM ENT
W a s h in g t o n
FOR R E L E A S E ,
Tuesday,
M O R N IN G N E W S P A P E R S ,
A p r il
5,
P re ss
1 9 5 8 , ___________
No.
S e r v ic e
1 2 -8 7
4 /4 /3 8 .
The
S e c re ta ry
of
th e
T re a su ry
fo r $ 1 0 0 ,0 0 0 ,0 0 0 ,
or
th e re a b o u ts ,
and m a t u r i n g J u l y
6,
1938,
F e d e ra l R e s e rv e
The
banks
d e t a ils
on A p r il
of
T o ta l a p p lie d f o r
T o ta l a c c e p te d
Range o f
w h ic h
-
t h is
of
announced
la s t
9 1 -d a y T re a s u ry
w e re
o ffe re d
e v e n in g
b ills ,
on A p r il
1,
to
w e re
th a t
be
th e
te n d e rs
d a te d A p r il
opened
at
th e
4.
is s u e
a re
as
f o llo w s :
$ 1 9 9 ,2 0 0 ,0 0 0
1 0 0 ,3 2 5 ,0 0 0
a c c e p te d b id s :
H ig h
Low
A v e ra g e p r i c e
(8 2 p e r c e n t
-
9 9 ,9 8 0
E q u iv a le n t
ra te
-
9 9 .9 6 3
9 9 .9 6 5
»
n
»
of
th e
am ount b id
fo r
u
at
th e
a p p r o x im a t e ly
»
0 .1 4 6
0 ,1 3 9
n
lo w
p r ic e
0 ,0 7 9
w as
a c c e p te d )
p e rce n t
11
6
T R E A S U R Y DEPARTM EN T
W a s h in g t o n
FO R R E L E A S E M O R N IN G N E W S P A P E R S
M onday.
A p r il
11,
1938
M a r s h a ll R .
c o m p le t io n
of
M s m akes
a
D ig g s ,
th e
liq u id a t io n
to ta l
sin ce t h e B a n k i n g
a llo w e d ,
of t h e 4 2
80.1 p e r
to
of
H o lid a y
re s to re d
of
to
to c r e d i t o r s
of
of
00 .
T o ta l
r e c e iv e r s h ip s
fro m
M a rc h 16
c r e d it o r s
b a n k w as p la c e d
to ta l l i a b i l i t i e s
7 4 .6 $ o f
c la im s
c r e d it o r s
If to ta l
g a t in g
HRST
p a id
to
to d a y
d u r in g
th e
c lo s e d
or
of
th e se
$392
1037
239
of
t h e ir
d u r in g
and
an
D iv id e n d s
1938,
to
e x c lu s iv e
re tu rn
of
d iv id e n d s
d is t r ib u t e d
1938,
d e p o s it o r s
a m o u n te d t o
o ffs e ts
a v e ra g e
r e c e iv e d
1938.
s o lv e n c y
in c lu d in g
m o n th o f M a r c h
d is t r ib u t io n s
M a rc h 3 1 ,
or
c r e d it o r s
th e
to
r e c e iv e r s h ip s ,
c la im s .
th e
m o n th o f M a r c h ,
re s to re d
494 00,
u n se cu re d
announced
a m o u n te d
of
a ll
$901 040
1 3 1 .0 0 .
TEXAS:
o ffs e ts
N ovem ber 2 1 ,
a llo w e d ,
U n se cu re d
$121
1932.
677 00,
d e p o s it o r s
D e p o s it o r s
and
r e p r e s e n t in g
r e c e iv e d
d iv id e n d s
o th e r
8 6 .2 1 $
of
a g g r e g a t in g
p ro v e d *
O SH KO SH , W IS C O N S IN :
b a n k w as p la c e d
r e c e iv e d ,
N A T IO N A L B A N K ,
b a n k w as
in
r e c e iv e r s h ip
in c lu d in g
lia b ilit ie s
s h ip N o v e m b e r 1 ,
cent
r e c e iv e r s h ip
e s t a b lis h e d .
o ffs e ts
e s t a b lis h e d .
100$ p r in c ip a l
T h is
in
in c lu d in g
CITY N A T I O N A L B A N K ,
T h is
w h ile
per
1933,
C u rre n cy ,
T o t a l d is b u r s e m e n t s ,
a g g re g a te d
d iv id e n d s
G EO R G ETO W N ,
r e c e iv e d ,
1933.
r e c e iv e r s h ip s
to $3 2 3 0 4 6 8
th e
f in a lly
c r e d it o r s
6 6 .3 8
a c t iv e
of
r e c e iv e r s h ip s
lia b ilit ie s ,
an a v e ra g e
T h is
28
o th e r
s o lv e n c y ,
a m o u n tin g t o
CITY N A T IO N A L B A N K ,
o f
o f M a rc h ,
and
to ta l
a ll
C o m p t r o lle r
1037 r e c e iv e r s h ip s
d e p o s it o r s
cent
A c t in g
P R E S S S E R V IC E
12 - 88
p lu s
f o r m e r ly
1933.
a llo w e d ,
U n se cu re d
an a d d it io n a l
C O M PT O N ,
in
Ja n u a ry
31,
$2 948
1933.
813
d e p o s it o r s
in t e r e s t
D e p o s it o r s
00,
r e p r e s e n t in g
r e c e iv e d
d iv id e n d
of
and
d iv id e n d s
o th e r
1 0 4 .3 $
a g g re - ■
5 .2 $ .
IL L IN O IS :
c o n s e r v a t o r s h ip .
D e p o s it o r s
and
o th e r
It
w as f i n a l l y
c r e d it o r s
r e c e iv e d ,
p la c e d
in
in c lu d in g
r e c e iv e r
o ffs e ts
allowed,
cured
$178 280
d e p o s it o r s
interest
00,
r e p r e s e n t in g
r e c e iv e d
d iv id e n d
of
ship A u g u s t
a llo w e d ,
16,
d e p o s it o r s
M EBANE,
f o r m e r ly
1933»
$145 041
r e c e iv e d
of t o t a l
IN
sh ip J u l y
a llo w e d ,
21,
143
cu re d d e p o s i t o r s
c r e d it o r s
of t o t a l
00,
T h is
c la im s
b a n k w as
s h ip S e p t e m b e r
13,
w as
c r e d it o r s
f in a lly
U nse
an a d d it io n a l
p la c e d
r e c e iv e d ,
a g g r e g a t in g
7 4 .1 $
of
c la im s
in
r e c e iv e r
in c lu d in g
o ffs e ts
e s t a b lis h e d .
U n se cu re d
p ro v e d .
SOUTH C A R O LIN A :
o ffs e ts
Ja n u a ry
a llo w e d ,
U n se cu re d
NES7 Y O R K ,
in
11,
1932.
$920 S71
d e p o s it o r s
00,
D e p o s it o r s
and
r e p r e s e n t in g
r e c e iv e d
o th e r
9 1 .0 2 $
d iv id e n d s
a g g re
NEW Y O R K :
c o n s e r v a t o r s h ip .
and
o th e r
7 4 .8 5 $
d iv id e n d s
BRO O KN EAL,
in
It
c r e d it o r s
of
to ta l
a g g r e g a t in g
w as f i n a l l y
r e c e iv e d ,
of
in
in c lu d in g
lia b ilit ie s
6 1 .2 $
p la c e d
r e c e iv e r
o ffs e ts
e s t a b lis h e d .
c la im s
U nse
p ro v e d .
V IR G IN IA :
r e c e iv e r s h ip
o ffs e ts
e s t a b lis h e d .
FIRST N A T I O N A L B A N K ,
It
lia b ilit ie s
r e c e iv e r s h ip
in c lu d in g
lia b ilit ie s
of
89$
r e p r e s e n t in g
r e c e iv e d
r e c e iv e d ,
1 0 0$ p r in c ip a l p lu s
to ta l
D e p o s it o r s
b a n k w as p la c e d
g a t in g 5 2 . 5 $
in
f o r m e r ly
PEOPLES N A T I O N A L B A N K ,
T h is
e s t a b lis h e d .
p ro v e d .
1933.
$216
and o th e r
e s t a b lis h e d .
o f c la im s
b a n k w as
lia b ilit ie s
of
FLO REN CE,
DOUGLASTON N A T I O N A L B A N K ,
T h is
a g g r e g a t in g
c o n s e r v a t o r s h ip .
in c lu d in g
lia b ilit ie s
g a tin g 7 7 $
in
d iv id e n d s
r e c e iv e d ,
to ta l
C A R O LIN A :
r e p r e s e n t in g
b a n k w as p la c e d
c r e d it o r s
TOTH
D e p o s it o r s
00,
FIRST N A T IO N A L B A N K
T h is
d iv id e n d s
of
.5 $ .
FIRST N A T IO N A L B A N K ,
T h is b a n k w a s
1 0 0 .1 $
O c to b e r
a llo w e d ,
U n se cu re d
31,
$273
1930.
646
d e p o s it o r s
00,
D e p o s it o r s
and
r e p r e s e n t in g
r e c e iv e d
o th e r
6 3 .9 2 $
d iv id e n d s
a g g re
p ro v e d .
ELM O RE,
f o r m e r ly
1933.
O H IO :
in
c o n s e r v a t o r s h ip .
D e p o s it o r s
and o th e r
It
w as f i n a l l y
c r e d it o r s
p la c e d
r e c e iv e d ,
in
r e c e iv e r
in c lu d in g
o ffs e t
-
allowed,
$368
135 00,
cured d e p o s i t o r s
r e p r e s e n t in g
r e c e iv e d
FIRST N A T IO N A L E M ,
T h is
bank
7/ a s
ship N o v e m b e r 8 ,
a llo w e d ,
$108
217
cured d e p o s i t o r s
f o r m e r ly
00,
c r e d it o r s
to ta l l i a b i l i t i e s
5 2.92$ o f
c la im s
a llo w e d ,
$252
c r e d it o r s
5 6 .0 5 $ o f
f o r m e r ly
1933.
o ffs e ts
c r e d it o r s
of t o t a l
of
w as
c r e d it o r s
to ta l
c la im s
f in a lly
U nse
p ro v e d .
p la c e d
r e c e iv e d ,
lia b ilit ie s
7 3 .6 3 3 $
M a rc h
a llo w e d ,
7,
of
1931.
$491
in
r e c e iv e r
in c lu d in g
o ffs e ts
e s t a b lis h e d .
c la im s
U nse
p ro v e d .
D e p o s it o r s
031 00,
U n s e c u r e d d e p o s it o r s
and o th e r
r e p r e s e n t in g
r e c e iv e d
5 6 .2 3 $
d iv id e n d s
of
a g g r e g a t in g
in
M ARYLAND :
c o n s e r v a t o r s h ip .
r e p r e s e n t in g
d iv id e n d s
in
and
o th e r
7 1 .5 7 $
w as
c r e d it o r s
to ta l
f in a lly
p la c e d
r e c e iv e d ,
lia b ilit ie s
6 8 .3 5 $
of
in
r e c e iv e r
in c lu d in g
e s t a b lis h e d .
c la im s
o ffs e ts
U nse
p ro v e d .
KANSAS:
o ffs e ts
e s t a b lis h e d .
of
It
a g g r e g a t in g
r e c e iv e r s h ip
in c lu d in g
M a rc h 2 5 ,
a llo w e d ,
U n se cu re d
$262
1932.
115 00,
d e p o s it o r s
D e p o s it o r s
and o th e r
r e p r e s e n t in g
r e c e iv e d
d iv id e n d s
7 5 .5 4 $
of
a g g r e g a t in g
p ro v e d .
PLANTERS N A T I O N A L B A N K ,
T h is
of
It
a g g r e g a t in g
r e c e iv e r s h ip
D e p o s it o r s
r e c e iv e d
r e c e iv e d ,
c la im s
9 2 .0 3 $
e s t a b lis h e d .
P E N N S Y LV A N IA :
G R A N T S V IL L E ,
b a n k w as p la c e d
to ta l l i a b i l i t i e s
o th e r
8 3 .5 7 $
NATIONAL B A N K O E C O M M E R C E , G A R N E T T ,
T h is
lia b ilit ie s
p ro v e d .
737 0 0 ,
cu re d d e p o s i t o r s
in
e s t a b lis h e d .
b a n k w as
s h ip O c t o b e r 2 5 ,
a g g r e g a t in g
and
d iv id e n d s
in c lu d in g
FIRST N A T I O N A L B A N K ,
T h is
to ta l
c o n s e r v a t o r s h ip .
AVELLA,
b a n k w as p la c e d
r e c e iv e d ,
in
r e p r e s e n t in g
r e c e iv e d
of
ARKANSAS:
D e p o s it o r s
LINCOLN N A T IO N A L B A N K ,
T h is
d iv id e n d s
IIU T T IG ,
1933.
S 3 .5 1 #
3 -
CLA^ KSBALE,
b a n k w as p la c e d
r e c e iv e d ,
lia b ilit ie s
in
in c lu d in g
M IS S IS S IP P I:
r e c e iv e r s h ip
o ffs e ts
e s t a b lis h e d .
Ja n u a ry
a llo w e d ,
U n se cu re d
$1
26,
1931.
845
197 00,
d e p o s it o r s
D e p o s it o r s
and
r e p r e s e n t in g
r e c e iv e d
d iv id e n d s
o th e r
9 5 .1 1 $
a gg re ga tin g 8 5 . 5 $ o f c l a i m s p r o v e d .
FIRST NATIONAL BANK IN PONCA C I T Y ,
T h is h a n k was f o r m e r l y
ship J a n u a r y 1 5 ,
allowed,
1934.
d iv id e n d s
DUNKIRK,
T h is ban k was fo r m e r ly
allo w ed ,
1933.
$200 0 7 4 0 0 ,
cured d e p o s i t o r s
and o th e r
re p re se n tin g
cured d e p o s i t o r s r e c e i v e d
ship A u g u s t 2 3 ,
c o n se rv a to rsh ip .
D e p o sito rs
$ 1 1 5 3 838 0 0 ,
FIRST NATIONAL BANK,
in
OKLAHOMA:
9 5 .2 9 $ o f t o t a l
a g g re g a tin g
and o th e r
a llo w e d ,
1933.
$97 1 3 1 00,
cured d e p o s i t o r s
d iv id e n d s
in
r e p re se n tin g
a g g re g a tin g
T h is ban k w as p la c e d
c re d ito rs
in
re c e iv e d ,in c lu d in g
total l i a b i l i t i e s
re c e iv e ro ffse ts
e s ta b lish e d .
o f cla im s
U nse
proved.
re c e iv e d ,
lia b ilitie s
p la c e d
in r e c e iv e r
in clu d in g
o ffse ts,
e s ta b lish e d .
U nse
55$ o f c la im s p r o v e d .
TEXAS:
and o th e r
7 7 .3 6 $
d iv id e n d s
WINDER NATIONAL BANK, WINDER,
c re d ito rs
c o n s e rv a to rsh ip .
D e p o sito rs
re ce iv e d
lia b ilitie s
I t was f i n a l l y
7 3 .8 6 $ o f t o t a l
FIRST NATIONAL BANK IN BLOOMING GROVE,
ship N o v e m b e r 1 0 ,
in
re c e iv e d ,in c lu d in g
9 3 .7 1$
in c o n s e rv a to rsh ip .
re p re se n tin g
T h is b an k was fo r m e r ly
c re d ito rs
p la c e d
OHIO:
D e p o sito rs
re ce iv e d
I t was f i n a l l y
It
was f i n a l l y
c re d ito rs
of to ta l
a g g re g a tin g
p la c e d
re ce iv e d ,
lia b ilitie s
in r e c e iv e r
in clu d in g
e sta b lish e d .
o ffsets
U nse
50$ o f c l a i m s p r o v e d .
GEORGIA:
re c e iv e rs h ip
o ffse ts
e s ta b lish e d .
Decem ber 30,
a llo w e d ,
1932.
$ 30 6 6 8 5 0 0 ,
U nsecured d e p o s ito r s
D e p o sito rs
re p r e s e n tin g
re ce iv e d
and o th e r
9 2 .9 1$
d iv id e n d s
of
a g g re g a tin g
38.8$ o f c l a i m s p r o v e d .
WISCONSIN NATIONAL B A N K , WATERTOWN, WISCONSIN:
T h is b a n k was f o r m e r ly
ship M a r c h 2 6 ,
allo w e d ,
1934.
in c o n s e rv a to rsh ip .
D e p o sito rs
$ 1 001 5 16 00,
and o th e r
re p re se n tin g
cu red d e p o s i t o r s r e c e i v e d d i v i d e n d s
i n t e r e s t d i v i d e n d o f ..8 6 $ .
It
wa,s f i n a l l y
c re d ito rs
10 0 .7 5 $ o f t o t a l
a g g re g a tin g
re c e iv e d ,
p la c e d
in
in c lu d in g
lia b ilitie s
re c e iv e r
o ffsets
e s ta b lish e d .
100$ p r i n c i p a l p l u s
U nse
an a d d i t i o n a l
- 5 -
FIRST NATIONAL BANK,
FIN LEYVILLE,
T h is hank was fo r m e r ly
ship J a n u a r y 4 ,
a ll o w e d ,
1934.
$654 7 7 4 00,
cured d e p o s i t o r s
in
PENNSYLVANIA:
co n se rv a to rsh ip .
D e p o sito rs
and o th e r
r e p re se n tin g
re ce iv e d
I t was f i n a l l y
c re d ito rs
10 4 .7 5 $ o f t o t a l
d iv id e n d s
a g g re g a tin g
re c e iv e d ,
lia b ilitie s
p la c e d
in
re c e iv e r
in clu d in g
o ffse ts
e sta b lish e d .
100$ p r i n c i j o a l p l u s
.
U nse
an a d d it io n a l
/
in terest
d iv id e n d
of
6 .3 $ .
FIRST NATIONAL BANK, HART, MICHIGAN:
T h is bank was f o r m e r ly in
ship S e p t e m b e r
allo w e d ,
14,
1933.
$427 3 74 00,
re ce iv e d ,
total l i a b i l i t i e s
d iv id e n d s
CORINTH,
T h is bank was p la c e d
c re d ito rs
D e p o sito rs
and o th e r
It
in
was f i n a l l y
c re d ito rs
r e p r e s e n t i n g SB .2 $ o f t o t a l
cured d e p o s i t o r s , r e c e i v e d
FIRST NATIONAL BANK,
co n se rv a to rsh ip .
a g g re g a tin g
re ce iv e d ,
lia b ilitie s
9 7 .5 $
p la c e d
in
re c e iv e r
in c lu d in g
e sta b lish e d .
o f c la im s
o ffse ts
U nse
proved.
M ISSISSIP PI:
re c e iv e rs h ip
in c lu d in g
o ffse ts
e s ta b lish e d .
O cto b er
a llo w e d ,
30,
1931.
$ 83 8 0 0 3 . 0 0 ,
U nsecu red d e p o s ito r s
D e p o sito rs
and o th e r
re p r e s e n tin g
re c e iv e d
d iv id e n d s
6 3 .0 2 $ o f
a g g re g a tin g
22.05$ o f c l a i m s p r o v e d .
FIRST NATIONAL BANK, ADAMS, MINNESOTA:
T h is bank was p l a c e d
c re d ito rs
re ce iv e d ,
total l i a b i l i t i e s
in
r e c e iv e r s h ip August 9,
in c lu d in g
e sta b lish e d .
o f f s e t s a llo w e d ,
1932.
$205 970 00,
U nsecured d e p o s ito r s
D e p o sito rs
and o th e r
re p r e s e n tin g
re ce iv e d
d iv id e n d s
5 5 .4 5 $ o f
a g g re g a tin g
3 4 .3$ o f c l a im s p r o v e d .
fir st
n a tio n a l
b a n k ;,
sw ayzee,
T h is ban k was fo r m e r ly
s h ip D e c e m b e r 2 6 ,
a ll o ? / e d ,
1933.
$346 466 00,
cured d e p o s i t o r s
in
In d ia n a :
co n se rv a to rsh ip .
D e p o sito rs
re p re se n tin g
re ce iv e d
d iv id e n d s
and o th e r
1 0 6 .2 8 $ o f
It
was f i n a l l y
c re d ito rs
to tal
a g g re g a tin g
p la c e d
re ce iv e d ,
lia b ilitie s
in
re c e iv e r
in c lu d in g
e s ta b lish e d .
100$ p r i n c i p a l p l u s
o ffsets
U nse
an a d d i t i o n a l
in te re st d i v i d e n d o f 8 . 2 6 $ .
A ssets
and s t o c k h o ld e r s *
values i n t h e r e s p e c t i v e a g g r e g a t e
am ounts o f $ 55 138
In t h e sum o f $ 1 6 7 4 00 w e r e t r a n s f e r r e d t o a n a g e n t
GERMANTOWN NATIONAL BANK,
T h is hank was p l a c e d
c re d ito rs r e c e i v e d ,
total l i a b i l i t i e s
68.45$ o f c l a i m s
00 a n d $ 1 5 6 0 1 00 a n d c a s h
e le c te d hy th e
sh a re h o ld e rs .
GERMANTOWN, NEW YORK:
in
re c e iv e rs h ip
in c lu d in g
o ffse ts
e sta b lish e d .
January 22,
a llo w e d ,
1932.
D e p o sito rs
$ 427 738 00,
U nsecured d e p o s ito r s
r e p re se n tin g
re ce iv e d
d iv id e n d s
and o t h e r
8 6 .9 7 $ o f
a g g re g a tin g
proved.
FIRST NATIONAL BANK,
DEARBORN, MICHIGAN:
T h is bank w as p la c e d
c re d ito rs r e c e i v e d ,
total l i a b i l i t i e s
u n p a i d a s s e s s m e n t s h a v i n g "book
in
re c e iv e rs h ip
in c lu d in g
o ffse ts
e s ta b lish e d .
J u ly
a llo w e d ,
3,
1931.
D e p o sito rs
$526 1 4 1 00,
U nsecured d e p o s ito r s
and o th e r
re p r e s e n tin g
re ce iv e d
d iv id e n d s
7 6 .6 1 $
of
a g g re g a tin g
66.3$ o f c l a i m s p r o v e d .
WESTMONT NATIONAL BANK, WESTMONT, NEW JERSEY:
T h is b a n k was p l a c e d
cre d ito rs r e c e i v e d ,
total l i a b i l i t i e s
50.666$ o f
in
re c e iv e rs h ip
in clu d in g
o f f s e t s a llo w e d ,
e s ta b lish e d .
19,
1931.
$246 10 4 00,
U nsecured d e p o s ito r s
D e p o sito rs
and o th e r
re p r e s e n tin g
6 0 .7 7 $ o f
re ce iv e d
d iv id e n d s
a g g re g a tin g
c la im s p ro v ed .
FIRST NATIONAL BANK,
SM ITEFIELD ,
A r e c e i v e r was a p p o in te d f o r
pu rpose o f c o l l e c t i n g
so ld a n d / o r
a
sto ck
in
dends p a i d a m o u n t e d t o
in clu d in g
total l i a b i l i t i e s
OHIO:
th is
bank under d a te o f June 5,
assessm ent
co m p le tin g u n f in is h e d
been p r e v i o u s l y p a i d
R eceiver,
O cto b er
co v e rin g
liq u id a tio n ,
f u l l b y a ssu m p tio n
d e p o sito rs
of lia b ilitie s
1 13 .3 9 $ o f c la im s p ro v ed ,
o ffsets
a llo w e d ,
e sta b lish e d .
d e fic ie n c y
w h ile
1931,
in v a lu e
fo r
of a ssets
and c r e d it o r s
h a v in g
by a n o th er b a n k .
to ta l
a g g r e g a t e d $64 594 00,
th e
D iv i
d is b u rs e m e n ts b y th e
re p re se n tin g
100$ o f
-
FIRST M T I ORAL BARK, ROBIRSOR,
IL LIN O IS:
A r e c e i v e r was a p p o in te d f o r
the p u r p o s e
o f c o lle c tin g
th is
bank under
a sto ck assessm ent
a ssets s o l d a n d / o r c o m p l e t i n g u n f i n i s h e d
having b e e n p r e v i o u s l y p a i d
D iv id e n d s p a i d a m o u n t e d t o
the R e c e i v e r ,
in c lu d in g
7 -
in f u l l
o ffse ts
92.13$ o f t o t a l l i a b i l i t i e s .
1934,
fo r
d e ficie n cy
in v a lu e
liq u id a tio n ,
d e p o sito rs
and c r e d it o r s
of
c la im s p ro v e d ,
a llo w e d ,
o f January 27
co v e rin g
b y a ssu m p tio n
8 8 .0 18 $ o f
d ate
of
lia b ilitie s
b y an o th er
w h ile
d is b u rs e m e n ts b y
to ta l
a g g r e g a t e d $ 10 7 6 7 5 00,
bank.
re p re se n tin g
INSOLVENT NATIONAL BANKS Lli^JIDATED a n d f i n a l l y c l o s e d
OH RESTOHSD TO SOLVENCY DURING THE MONTH OF
MARCH, 1938
ank.
Naroe and Location of Bank
City National Bank
Georgetown, Texas
City National Bank
Oshkosh, Wise.
First National Bank
Compton, 111.
First National Bank
Mebane, N. C.
First National Bank in
Florence, S. C.
Douglaston Natl Bank
New York, N. Y.
Peoples National Bank
Brookneal, Va.
First National Bank
Elmore, Ohio
First National Bank
Huttig, Ark.
Lincoln National Bank
Avella, Pa.
First National Bank
Grantsvilie, Md.
Natl Bank of Commerce
Garnett, Kans.
Ilanters National B ank
C la rk s d a le ,
C ity ,
$ 121 677 00
i-31-33
2 9 U 8 813 00
Cash, Assets,
Capital
Uncollected Stock
Stock at Assessments, etc*
Date of
Returned to Share Failure., holders* A è
7U .6
$ 50 000 00
IOU.3
IO 5 . 2
3 0 O 0 00 0 0
000
1 0 0 .1
IOO . 5
25 0 0 0 0 0
000
89.
7^.1
50 0 00 0 0
000
86.21
$
000
11-1-33
I 7 2 280 0 0
2/
8 -1 6 - 3 3
IU 5
1 -1 1 - 3 2
9 2 0 971 0 0
9 I.O 2
77.
1 0 0 0 0 0 00
000
7-21-33
2 16
IU 3 0 0
7M §
6 1 .2
1 0 0 0 0 0 00
000
1 0 -3 1 - 3 0
273 6U 6 0 0
63-92
52.5
5 0 0 00 0 0
000
2/
9-13-33
368 135 0 0
9 3 .5 I
92.03
37 500 00
000
1 /
1 1 -8 - 3 3
108 2 1 7 0 0
23.57
7 3 .6 3 3
2 5 000 00
000
3-7-31
U 9 I 0 3 1 00
5 6 .2 3
52.92
1 0 0 000 00
000
1 0 -2 5 - 3 3
2 5 2 737 00
7 I .5 7
68.35
25 000 00
000
3 -2 5 - 3 2
262 1 1 5
00
75-5^
5 6 .8 5
25 000 00
000
1 /
2/
M iss.
O ld s t.
II- 2 I- 3 2
Per Cent
Dividend
Declared
to All
Claimants.
g!
F i r s t N a t i o n a l B an k i n
lo n o a
Per Cent
Total
Total Dis
Di sbur semen t s
bursements
Including
to Total
Date of
Failure. Offsets Allov/ed. Liabilities.
2/
chi
00
1 -2 6 - 3 1
1
8^5 197 00
95.11
8 5 .5
50 0 000 00
000
3 .- 1 5 - 3 L
1
15 3
S 3 S 00
95.29
9 3 .7 1
50 000 00
000
i n s o l v e n t n a t i o n a l basiks l i q u i d a t e
and finally
closed
OR R33TORSD TO SOLVENCY DURING THS MONTH OF
MARCH, 193S - Coat’d.
Name and Location of 3a.nk.
CVJ
«3-
Per Cent
Dividend
Declared
to All
Claimants.
00
73-S6
55-
97 1 3 1 00
77.36
50.
306 6 8 5
00
92.91
3 - 26 - 3 U 1 0 0 1 5 1 6
00
1 -U- 3 H
6 5 H 77^
00
9-1 U- 3 3
U 2 7 37H 00
1 0 -3 0 - 3 1
S 3 S 0 0 3 00
8-9-72
2 0 5 970
00 >
12-26-33
3 H 6 H 66
00
1 -2 2 - 3 2
7-3-31
5 2 6 lUl
8 -2 3 - 3 3
11-10-33
12-30-32
0
0
First N a t i o n a l B a n k
Dunkirk, Ohio
2/
First Natl Bank in
Blooming Grove, Tex •if
Winder Natl Bank
Winder, Ga.
Wisconsin Natl Bank
Watertown, Wise.
if
First Natl Bank
Flnleyville, Pa.
if
First Natl Bank
Hart, Mich.
if
First Natl Bank
Corinth, Miss.
First Natl Bank
Adams, Minn.
First Natl Bank
Sway zee, Ind.
if
Germantown Natl Bank
Germantown, N. Y.
First Natl B-arik
Dearborn, Mich.
Date of
Failure.
Per Cent
Total
Total Dis
Disbursements
bursements
Including
to Total
Offsets Allowed. Liabilities.
07U
Capital
Stock at
Date of
Failure.
$
50 0 0 0 00
Cash, Assets,
Uncollected Stock
Assessments, etc.
Returned to Share
holder
A/?ent.
$
000
25 000 00
000
88.8
100 000 00
000
100.75
100.86
7 5 000 00
000
10U.75
1 0 6 .3
2 5 000 00
000
98.2
9 7 .5
75 000 00
000
63.02
2 2 .0 5
100 000 00
000
5 5 -^ 5
3*+. 3
30 000 00
000
106.2S
108.26
50 000 00
7 2 U1 3
U 2 7 738 00
86.97
6 8 .U 5
5 0 0 0 0 00
000
00
7 6 .6 1
6 6 .3
1 5 0 0 0 0 00
000
00
INSOLVjO T NATIONAL BANKS LliJJIDATjgD AND FINALLY CLOSED
OB ASS'TOBKD TO SGLYillCY BUSING THS MONTS OF
MARCH, 193S - Coat'd.
Name and Location of Bank,
Westmont .Natl Bank
Westmont, N. J.
First Natl Bank
Smithfield, Ohio
First Natl Bank
Robinson, 1 1 1 .
Date of
Failure.
1 0 -1 9 - 3 1
Per Cent
Total
Total Dis
bursements
Disbursements
Including
to Total
Offsets Allowed. Liabilities*
$ 2 U 6 1 0 U 00
1/
6-5 - 3 1
6k 59 U 00
1^
1 2 -2 7 - 3*1
1 0 7 6 7 5 00
6 0 .7 7
10 0 .
92.13
Per Cent
Dividend
Declared
To all
Claimants.
Capital
Stock at
Date of
Fai lure •
5 0 .6 6 6
$ 2 5 000 00
113.39
S3.018
Cash, Assets,
Uncollected Stock
Assessments, etc.
Returned to Share
holders' A^ent.
$
000
10 0 000 00
000
7 5 0 0 0 00
000
1 / - Receiver appointed to levy and collect stock assessment covering deficiency in value of
assets sold, or to complete unfinished liquidation.
2] - Formerly in conservatorshin
IMPORTS OF RED CEDAR SHINGLES FROM CANADA
Preliminary Figures for the Period January 1 to April 2 , 1938
Customs District
Saubres
Buffalo
Connecticut
Dakota
Duluth and Superior
Galveston
Indiana
Los Angeles
Massachusetts
Michigan
New York
Ohio
Philadelphia
Rhode Island
St* Lawrence
San Antonio
San Francisco
Vermont
Washington
24,593
250
312,723
60,025
28,021
170
3,657
800
250
3,744
260
700
250
1,218
975
950
19,401
263,570
Total
721,557
PRESS RELEASE
The Commissioner of Customs today announced preliminary figures
for imports of red cedar shingles from Canada, unddr the quota pro
visions of the Canadian Trade Agreement, during the period January
1 to April 2, 1938, as follows:
(See Tabulation)
These importations represent 78.8 per cent of the quota
established in Executive Order No. 7822, of February 25, 1938,
which limits importations of red cedar shingles from Canada to
916,246 squares during the first six months of the calendar year
1938.
$hen necessary for the control of the current quota on imports
of this commodity, customs officers in charge at ports of entry will
be required to secure telegraphic authorization from the Bureau of
Customs for acceptance of entry thereof for consumption.
If the
current quota is filled, further importations of this commodity may
not be admitted to entry for consumption until the beginning of the
next quota period on July 1, 1938.
OFFICE OF THE COMMISSIONER OF CUSTOMS
APR 1 •
Sta
1938
TO MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Building)
FROM THE ACTING COMMISSIONER OF CUSTOMS:
There is inclosed a tabulation for immediate release showing
preliminary figures for imports of red cedar shingles from Canada,
under the quota provisions of the Canadian Trade Agreement,
during the period January 1 to April 2* 1938.
When the release has been mimeographed, please have 125
copies forwarded to Miss Henry, Room 415, Washington Building.
TREASURY DEPARTMENT
W a sh in g to n
FOR IMMEDIATE R E L E A S E ,
W ednesday, A p r i l 6, 19 3 8 .
The C o m m is sio n e r o f
of red
cedar
sh in g le s
Trade A greem en t,
P re s s S e rv ic e
No. 1 2 - 8 9
Custom s t o d a y a n n ou n ced p r e l i m i n a r y f i g u r e s
fro m C an ad a,
d u rin g
under
th e p e r io d
th e q u o ta p r o v is io n s
Janu ary 1
to A p r i l
2,
of
1938,
th e
fo r
im p o rts
C a n a d ia n
as fo llo w s :
IMPORTS OF RED CEDAR SHINGLES FROM CANADA
P re lim in a ry F ig u re s fo r
th e P e rio d Jan u ary 1
C ustom s D i s t r i c t
7 2 1,5 5 7
represent
E x e c u t i v e O rd e r No,
7822,
cedar
Canada to
s h i n g l e s fro m
ca le n d a r y e a r
cure
of
th is
g in n in g
o f F ebru ary 25,
th e
cu stom s o f f i c e r s
te le g ra p h ic
th ereo f fo r
7 8 ,8 p e r c e n t
9 16 ,2 4 6
co n trol
in ch arge
a u t h o r i z a t i o n fro m
co n su m p tio n .
If
of
th e
squares
th e q u o ta e s t a b l i s h e d
w h ich l i m i t s
d u rin g
th e
in
im p o rta tio n s o f
th e f i r s t
s i x m on ths o f
c u r r e n t q u o ta on im p o r ts o f
at p o rts
of
th e Bureau o f
th e c u r re n t q u o ta i s
c o m m o d i t y m ay n o t b e a d m i t t e d
of
1938,
of
rod
th e
1938.
When n e c e s s a r y f o r
co m m o d ity ,
1938
2 4 ,5 9 3
250
3 12 ,7 2 3
6 0 ,0 2 5
2 8 ,0 2 1
170
3 ,6 5 7
800
250
3 ,7 4 4
260
700
250
1 ,2 1 8
975
950
1 9 ,4 0 1
2 6 3 ,5 7 0
T o ta l
im p o rta tio n s
2,
Square
B u ffa lo
C o n n e cticu t
D a k o ta
D u lu th and S u p e r io r
G a lv e sto n
In d ia n a
Los A n g e le s
M assach u setts
M ic h ig a n
New Y o r k
O hio
P h ila d e lp h ia
Rhode I s l a n d
S t . L aw ren ce
San A n to n io
San F r a n c i s c o
Verm ont
W a sh in g to n
These
to A p r i l
n ext q u o ta p e rio d
to
en try fo r
on J u l y 1 ,
1938.
— Odo-
e n try w ill
C ustom s f o r
fille d ,
be
th is
re q u ire d
to
se
accep tan ce
of
en try
fu r t h e r im p o rta tio n s
co n su m p tio n u n t i l
th e b e
Health Officers Conferences
~ 3 **
H# Baker, Alabama, chairman), and the Committee on Penalty Privilege
(Dr. Wilson G. Williams, Tennessee, chairman) will submit their reports
at the Conference of State and Territorial Health Officers with the
Public Health Service.
m2m
BMB m I■
Health Officers Conference
be given Sunday evening at the Willard Hotel.
The officials with a
quarter of a century of service behind them include;
Or* Cornelius
A. Harper, Dr. Thomas 1. Crowder, Dr. Henry E. Young, Dr. James A*
Hayne, Dr. Frederick B. Trotter, Dr. Arthur T. McCormack, Dr. Charles
f. Dalton, Dr. William F. Cogswell, Dr. John A. Ferrell and Dr. Theo
dore 1* Beatty (Utah, retired
1935)«
At the morning session on Monday, April 11th, with the president
and vice-president of the Conference presiding, Dr. Bari 1. McKinley
Dean of the School of Medicine, George Washington University, will pre»
sent a paper on "The Cartography of Disease in the United States#H Dr#
Bolivar J • Lloyd, Assistant to the Director of the Pan American Sani
tary Bureau will read a paper on "The Bole of Viscerotomy in the Con
trol of Yellow fever#11
Various committees will present reports on subjects of interest
to the headth officials.
The reporting Committees are on Accidents
(Dr. Edward S. Godfrey, Jr., New York, Chairman); Conservation of
Vision (Dr. Arthur C. Jost, Delaware, Chadrman); Disaster Belief (Dr#
Verne K. Harvey, Indiana, chairman); Drug Addiction, (Dr. Frederick
D. Strieker, Oregon, Ghadrman); Industrial Hygiene (Dr. Stanley H.
Osborn, Connecticut, Ghadrman); Milk (Dr. Ira C. Biggin, Virginia,
Chairman); Shellfish (Dr. George H. Coombs, Madne, Ghadrman); Housing
(Dr. George 0. Buhland, District of Columbia, Chadrman); Indian Affairs
(Dr. William F. Cogswell, Montana, Chairman); and the Uniform Bailway
Code (Dr. Walter L. Bierring, Iowa, Chadrman)« The report of the Goa»
mittehhonrGhild Hygiene (Dr. Felix J. Underwood, Mississippi, Chadrman)
will submit its report at the first session of the Children’s Bureau
Conference with State and Territorial Health Officers the morning
of April Sth#
The Committee on Public Health Personnel
(Dr. James
11
8 « & D & Officer« Conferences
TBAASUAY DEPARTMENT
U. S. Public Health Service
Washington
The annual Conference of State and Provincial Health Authorities
of North America will bring together in Washington some 3®0 public health
officials of the United States and Canada when the first session opens
—/"Q VYV Q
at the Public Health Service Building, 1 9 th and
Constitution Avenue*
following the deliberations of American and Cana*
dian officials, the Thirty-Sixth Annual Conference of State and Terri**
torial Health Officers of the United States with the Public Health Serv*
ice, will open on Monday, April 11th*
Br* Aobert H. Ailey, M a r y l a n d ^ State Birector of Health and Presi*
dent of the State and Provincial Health Authorities, will open the morn**
ing session on Saturday with an address of welcome*
The p r e s i d e n t s ad*
dress will be followed by a symposium on "Aecent Extension and the future
of Medical and Public Health Services* *
this symposium are:
Officials who will be heard in
Dr. A. C. Williams of the United States Biblic Health
Service, Br. f. W* Jackson, Beputy Minister of Health of the Province of
Manitoba, Canada, and Br. X*. G. Beland, Birector of the Bureau of Medical
Economics, American Medical Association.
The papers of the symposium
speakers will be discussed by Br* A. 1. Wodehouse, Beputy Minister of
the Bepartment of Pensions and National Health of Canada, Surgeon Gen**
eral Thomas Parran, Dr. Martha Eliot of the Ch i l d r e n ^ Bureau, Dr. John
A. Ferrell, of the Aockefeller foundation, and Dr. Nathan B. Tan Etten,
Speaker of the House of Delegates of the American Medical Association*
A dinner in honor of members of the State and Provincial Health
Authorities of North America with over twenty-five years of service will
TREASURY DEPARTMENT
S. P u b lic H e a lth S e r v ic e
W a sh in g to n
U.
FOR RELEASE , MORNING- NEWSPAPERS,
F rid a y, A p r i l 8, 19 3 8 .
4-7-38
The a n n u a l C o n fe r e n c e o f
A m e r ic a w i l l b r i n g
the U n i t e d
P ress
No.
S ta te
B u ild in g ,
H e a lth O f f i c e r s
of
w i l l o p en on M onday, A p r i l
D r.
the S t a t e
first
R o b e r t H. R i l e y ,
th e U n ited
M a r y la n d * s S t a t e
a s y m p o s iu m o n l,R e c o n t E x t e n s i o n a n d
of t h e U n i t e d
H ealth o f
B u reau o f M e d i c a l E c o n o m i c s ,
R o c k e f e lle r F o u n d a tio n ,
th e
w ith th e P u b lic
d e lib e ra tio n s
of
S ta te
H ea lth
o p en t h e m orn in g s e s s i o n
Ser
sym p o siu m a r e s
D r.
Canada,
P.
R. E.
L.
R.
Canada,
C. W illia m s
D ep u ty M in is t e r
G-. L o l a n d ,
D ire cto r o f
The p a p e r s o f
th e
of
th e
sym
th e
S u r g e o n G e n e r a l T h o m as
D r.
Van E t t e n ,
by
H e a lth Ser
W odehouse, D e p u ty M in i s t e r o f
C h ild ro n * s B ureau,
and D r . N a th a n B .
D r.
W. J a c k s o n ,
and D r .
on
ad d ress w i l l b e fo llo w e d
A m e ric a n M e d ic a l A s s o c i a t i o n .
th e
th e P u b lic
John A .
F e rre ll,
Speaker o f
o f th e
the H ouse o f
th e A m e ric a n M e d ic a l A s s o c i a t i o n .
A d in n e r
i n h o n o r o f m em bers o f t h e
of N o r th A m e r ic a w i t h
even in g a t
w ill
and N a t i o n a l H e a lth o f
D r. M arth a E l i o t o f
D e le g a te s o f
S ta te s
of
D i r e c t o r o f H e a lt h and P r e s i d e n t o f
th is
p o siu m s p e a k e r s w i l l b e d i s c u s s e d b y D r .
Parran,
F o llo w in g
th e. F u tu r e o f M e d ic a l and P u b l i c
H e a lth S e r v ic e ,
t h e P r o v in c e o f M an ito b a ,
D epartm ent o f P e n s i o n s
o p e n s tom o rro w a t
The p r e s id e n t * s
who w i l l b e h e a r d i n
S ta te s P u b lic
o ffic ia ls
11th .
and P r o v i n c i a l H e a l t h A u t h o r i t i e s ,
O ffic ia ls
h e a lth
o f N o rth
th e T h i r t y - S i x t h Annual C o n fe re n ce
S a t u r d a y w i t h an a d d r e s s o f w e l c o m e .
v ic e s .”
se ss io n
1 9 t h and C o n s t i t u t i o n A v e n u e,
of A m e r i c a n a n d C a n a d i a n o f f i c i a l s ,
and T e r r i t o r i a l
H e a lth A u t h o r i t i e s
t o g e t h e r i n W a s h i n g t o n some 300 p u b l i c
S t a t e s and C a n a d a when t h e
H ealth S e r v i c e
vice ,
and P r o v i n c i a l
S e rv ic e
13 -9 0
th e W illa r d
over
tw e n ty -fiv e
H o te l,
S ta te
years o f
The o f f i c i a l s
and P r o v i n c i a l
se rv ic e
H e a lth A u t h o r it ie s
w i l l be g iv e n
w ith a q u a rte r o f
a
Sunday
cen tu ry o f
se rv ice
2
-
b e h in d them i n c l u d e :
Young,
D r.
Jam es A .
C h a r l e s 3T. D a l t o n ,
B. B e a , t t y
(U tah ,
At
D r.
H ayne,
D r,
re tir e d
A.
C o g sw e ll,
s e s s io n
C o n feren ce p r e s id in g ,
M ed icin e,
G eo rge W a sh in g to n U n i v e r s i t y ,
th e U n ited
o ffic ia ls .
Hew Y o r k ,
S ta te s .0
D r.
11th ,
w ill present
B o liv a r
read
J.
F e rre ll
H e n r y 33.
M cCorm ack,
and D r .
D r.
Theodore
w ith th e p r e s id e n t
Dean o f
a p a p e r on
L lo y d ,
and v i c e -
th e
School o f
’’ T h e C a r t o g r a p h y
A ssista n t
to
th e D ir e c to r
a p a p e r o n ’’T h e R o l e o f V i s c e r o t o m y
co m m ittees w i l l p r e s e n t r e p o r t s
C h a irm a n );
(D r. F r e d e r i c k D .
O sborn,
C o n se rv a tio n o f V is io n
D istric t
(D r.
of
(D r.
V erne K.
S trie k e r,
C o n n e cticu t,
S h e llfish
C h a irm a n );
G e o r g e H.
C o lu m b ia ,
o f th e
report
at
and T e r r i t o r i a l
on P u b l i c
th e ir re p o rts
cers w ith th e P u b lic
at
th e
Ira
(D r. Edw ard S .
A r th u r C.
C.
C h a irm a n );
R ig g in ,
C h a irm a n );
(D r,
se ss io n o f
H e a lth O f f i c e r s
(D r.
J.
H ea lth S e r v ic e .
— -oOo—
S ta te
(D r.
th e
J r .,
C h a ir
S t a n l e y H.
C h a irm a n );
C o g sw e ll,
Iow a,
U nderw ood,
M on tan a,
C haurm an).
M is sis sip p i,
C h i l d r e n ' s B u r e a u Con
o f A p ril
A lab am a ,
(D r. W ils o n C. W illia m s ,
C on feren ce o f
F.
th e m o rn in g
J a n e s H. B a k e r ,
G o d fre y,
h e a lth
G eorge C. R u h lan d ,
B ie rrin g ,
F e lix
th e
D rug A d d ic t io n ,
(D r.
(D r. W illia m
to
D e la w a re ,
V irg in ia ,
H ou sin g
(D r. W a lte r L .
H yg ien e
Jo st,
I n d u s t r i a l H yg ien e
th e f i r s t
H e a lth P e rs o n n e l
th e C o m m itte e o n P e n a l t y P r i v i l e g e
su b m it
Code
C o m m ittee on C h i l d
w ith S ta te
C o m m ittee
su b je cts o f in t e r e s t
In d ia n a ,
In d ia n A f f a i r s
The r e p o r t
su b m it i t s
(D r.
Coom bs, M a in e ,
C h a irm a n );
(D r.
C h a irm a n );
M ilk
and th e U n ifo rm R a ilw a y
w ill
H arvey,
O regon,
C h a irm a n );
C h a irm a n )
on
The r e p o r t i n g C o m m itte es a r e on A c c i d e n t s
m a n ); D i s a s t e r R e l i e f
w ill
John A ,
T.
D r.
C o n tr o l o f Y e llo w F e v e r .”
V a rio u s
feren ce
D r,
C row der,
D r. A rth u r
D r . E a r l 33. M c K i n l e y ,
of th e P an A m e ric a n S a n i t a r y B u re a u w i l l
in th e
T h om as R .
T ro tter,
on M onday, A p r i l
of
in
D r.
1935).
p re sid e n t
of D ise a se
H arper,
F re d e rick E.
D r, W illia m F .
t h e m orn in g
th e
C o rn e liu s
-
8 th .
C h a irm a n ),
Tennessee,
and T e r r i t o r i a l
The
and
C h airm an )
H ea lth O f f i
H. Of. Conf. —
E.Gr.P.
§
cooked pork which contains a worm-like p arasite known as
Trichina s p i r a l i s .
The popularity of barbecue stands in
th is country has a bearing on our tr ic h in o sis problem.
Animal Industry of the Department o f A griculture, new Chief
of the D ivision o f Zoology of the National I n s titu te of ^ a l t h ,
w i l l open d iscu ssion of tr ic h in o sis
the S tate and T erritor
i a l Health O fficers Sonference with a comprehensive plan for
the control of tr ic h in o s is in th is country, involving coopera
tiv e measures on th e part of the Public Health S ervice, the
Bureau o f Animal Industry, S tate health o f f i c i a l s , State l i v e
stock san itary o f f i c i a l s , the pork packing industry, physicians,
veterin arians and sa n ita ria n s.
Doctor Hall has data, accumula
ted over th e past f i f t y years together with stu d ies by the Na
tio n a l I n s titu te of Health, which show an incidence of approxi
mately 17 percent in over 2,000 persons examined*
Closing sessio n s of the Conference v / i ll be devoted
to committee reports and general discussion*
H. Of, Conf. — 2
I E.G.P.
'M I'•
lish ed by the National Cancer Act of IDaagress la s t August as
a part of the U. S. Public Health S ervice.
Doctor Hektoen
w i l l s tr e s s the importance of esta b lish in g clo ser r e la tio n s
between State cancer a c t iv i t i e s and the work of the National
Cancer I n s t it u t e .
At present, seven S tates have taken d e fi
n ite steps toward cancer control on a statew ide b a sis.
These
cancer con trol programs function eith er w ithin the S tate Qepartment of Health as a d iv isio n of bureau, or in a separate
agency u su ally known as the S tate Cancer Commission.
Health
o f f i c ia l s from S tates having such programs are expected to take
part in the d iscussion on cancer control; they include the
State health o ffic e r s of Massachusetts, New Hampshire, New York
Connecticut, Georgia, Missouri and Khode Islan d .
T richinosis has been the su bject of in tern ation al
as w ell as n ational concern for some years.
Evidence in d icates
that the United S ta tes has the greatest tr ic h in o sis problem
in the world.
This d isease i s caused by eating in s u ff ic ie n tly
S tate and T err ito ria l
Health O fficers Conference
!*G.P.
FOR RELEASE:
At d iscretion of the Treasury-
Health o f f i c ia l s of the United States w i l l be
asked to consider the national program of venereal d isease
con trol, future plans for cancer con trol and for the r e
duction of pneumonia m ortality, the tr ic h in o s is problem
and.the present sta tu s of stream p ollu tion le g is la t io n in
th eir d elib era tio n s a t the T h irty-sixth Annual Conference
of S tate and T err ito ria l Health O fficers with the Public
Health Sor&&ce when Surgeon General Thomas Parr an opens
the proceedings Monday, April 11th at 2:00 P, M* in the
auditorium of th e Public Health Service S lid in g *
Doctor Ludvig Hektoen, Executive D irector of the
N ational Advisory Cancer Council, w i l l open d iscu ssion on
cancer con trol w ith a d escrip tion o f the organization and
functions of the National Cancer I n s titu te which was estab
TREASURY DEPARTMENT
S. P u b lic H e a lth S e r v ic e
W a sh in g to n
U.
FOR REL E A SE , MORNING- NEWSPAPERS,
S u n d a y , A p r i l 10» 1 9 3 8 .
4-8-38
H e a lth o f f i c i a l s
program o f
of
ven ereal d is e a se
P ress
No.
th e U n ite d S t a te s w i l l be
co n tro l,
r e d u c t i o n o f pn eu m o n ia m o r t a l i t y ,
of
stream p o l l u t i o n
C o n feren ce o f
v ice
S ta te
le g is la tio n
D r.
C o u n cil,
za tio n
in
tric h in o s is
th e ir
and T e r r i t o r i a l
in
th e a u d ito riu m
w i l l open d is c u s s io n
and fu n c t io n s
of
H ealth
S e rv ic e *
r e l a t i o n s b etw een
In stitu te .
D r*
At p resen t,
u s u a l l y known a s
such p ro g ram s a r e
in clu d e
th e
C o n n e cticu t,
th e
G e o rg ia ,
cern fo r
some y e a r s .
t r i c h i n o s i s p ro b le m
t h e w ork o f
a d iv is io n
or bureau,
C a n c e r C o m m ission .
tak e p a rt
M is so u ri
in
su b je ct
in d ic a te s
t h e w o rld *
co o k ed p o rk w h ich c o n t a in s
H e a lth S e r
th e
11th ,
th e o rg a n i
th e U.
S, P u b lic
e sta b lish in g
c lo s e r
th e N a t io n a l C an cer
step s
or in a
H e a lth o f f i c i a l s
d is c u s s io n
by
tow ard c a n c e r
con
e ith e r w ith in
sep arate
agency
fro m S t a t e s
on c a n c e r c o n t r o l ;
h a v in g
th ey
New H a m p s h i r e , New Y o r k ,
and Rhode I s l a n d .
th e
E v id e n ce
in
im p o rta n ce o f
o f f ic e r s o f M assach u setts,
T r i c h i n o s i s h a s been
of
These c a n c e r c o n t r o l program s fu n c t io n
ex p ected to
S ta te h e a lth
as a p art
tak en d e f i n i t e
S ta le
th e T h ir t y - s ix t h Annual
w h ich w as e s t a b l i s h e d
seven S ta te s
H e a lth a s
sta tu s
th e N a tio n a l A d v iso ry Cancer
and
have
th e
S e rv ic e B u ild in g .
cancer a c t iv it ie s
b a sis.
D epartm ent o f
th e
and f o r
w ith a d e s c r ip tio n o f
o f Congress l a s t A ugust
S ta te
on a s ta te w id e
th e S t a t e
H e a lth
Cancer I n s t it u t e
stress
n a tio n a l
th e p r o c e e d in g s M onday, . A p r i l
on c a n c e r c o n t r o l
H ekto en w i l l
th e
p ro b le m and t h e p r e s e n t
H e a lth O f f i c e r s w it h th e P u b lic
o f th e P u b lic
th e N a tio n a l
c o n sid e r
fo r cancer co n tro l
d e lib e ra tio n s a t
L u d v ig H ek to en , E x e c u t iv e D i r e c t o r o f
th e N a t io n a l C a n ce r A c t
ly
th e
w h e n S u r g e o n G - e n e r a l Th om as P a r r a n o p e n s
a t 2 :0 0 P .M .,
tro l
fu tu re p la n s
asked to
S e rv ic e
12-91
of
in t e r n a t io n a l as w e l l a s n a t io n a l con
th at
th e U n ite d S t a t e s
T h is d is e a s e
is
has th e g r e a te s t
caused by e a tin g
a w o r m - l i k e p a r a s i t e known a s T r i c h i n a
in su ffic ie n t
sp ir a lis *
2
-
The p o p u l a r i t y
o f barbecue
p ro b le m .
—
.
D r*
p artm en t
In stitu te
to ria l
S ta te
o f A g ric u ltu re ,
of
H e a lth ,
in
th is
liv e s to c k
fo rm e rly o f
th e D i v i s i o n - o f
co u n try,
in v o lv in g
In d u stry o f
Z o o lo g y o f
tric h in o s is
th e B ureau o f
D r.
co o p e ra tiv e
at
th e
in cid e n c e o f a p p ro x im a te ly 17 p e r c e n t
s e s s io n s o f
th e
S ta te
a ccu m u la te d o v e r
In stitu te
in over
—oOo—
S ta te
th e
and T e r r i
co n tro l
p h y sicia n s,
of
th e
v e ter
th e p a s t f i f t y
o f H e a lth ,
w h i c h sh o w a n
2 ,0 0 0 p e r s o n s e x a m in e d .
C o n fe re n ce w i l l bo d e v o te d to
gen eral d is c u s s io n .
th e n a tio n a l
h e a lth o f f i c i a l s ,
th e p o rk p a c k in g in d u s t r y ,
s t u d ie s by th e N a tio n a l
t h e De
m easures on th e p a r t o f
A n im a l I n d u s t r y ,
H a ll has d a ta ,
on our t r i c h i n o s i s
H
C o n fe re n c e w it h a co m p re h e n s iv e p l a n f o r
and s a n i t a r i a n s .
C lo sin g
' "
t h e B u r e a u o f A n im al
open d is c u s s i o n o f
s a n ita ry o f f i c i a ls ,
to g eth er w ith
co u n try has a b e a rin g
8 ...............
now C h i e f o f
w ill
H e a lth S e r v ic e ,
th is
........... M g
H a ll,
H e a lth O f f i c e r s
in a ria n s
years,
.
M a u r i c® C .
tric h in o s is
P u b lic
-
stan d s in
-
co m m ittee r e p o r t s
and
Conf*— S
EGP
SMMx s e l f i s befuddled concerning i t .
ïfWe are spending for health work from lo c a l, sta te
and fed eral taxes only 500 m illio n d o lla r s.
In other words
we are in v estin g in prevention only about one-seventh of the
t o ta l annual b i l l for medical care.
The t o t a l funds now
spent for p rotecting the public health rep resen i^ o n ly about
one-fourth the amount which w i l l be spent th is year fo r na
tio n a l defense.
«Is i t any wnder that the people are beginning to
ta lk about so c ia liz e d or s ta te medicine?
The people f e e l i t
i s th e ir r ig h tfu l heritage to enjoy a reasonable opportunity
to possess health and happiness.
not be fooled by the
i
I am sure that they w i l l
precarious promises of s o c ia l-
ized medicine as we understand th is term
«Such experiments as group health (such as has been
established here in Washington and elsewhere) are bound to
fail them in their quest for a solution of this problem.
Such sehemes w i l l f a i l of th eir own inadequacy because of
th eir ultim ate in e ffic ie n c y and the im p o ssib ility of e n l i s t
ing p ro fessio n a l personnel of high quality to carry on such
work.
S o cia l or sta te medicine i s not the answer.
The ans
wer i s to be found la rg ely in the extension o f public h ealth.
With such a program for medical subsidy to the in d igen t, with
reasonable schedules of medical and su rg ica l fees for persons
of low and moderate incomes, the physician s, health au th orities
and the public together w i l l even tu ally fin d a sane and prac
t i c a l s o lu tio n .
The f i r s t step i s the establishm ent of a^
Conic —
2
EGP
£HS crying need for a national public health program in this
country«,
The man in the street can actually see what some
of these problems really are«,
We may hope to aid in bringing
home to government the tragedy of the colossal and monstrous
waste of human beings which is now going on in a diminishing
population of a great nation such as this.ff
Dr. McKinley, in presenting his map-picture of na
tional sickness and death, said in part:
"There is some
indication that governments are gradually learning the im
portance of public health.
They are coming to realize that
the finest and most valuable asset any nation may have is
found in the health of the people.
It is also becoming ap
parent to society that the first duty and obligation of any
government is to preserve the public health.
It is not only
smart and a matter of common sense to protect the public
health but it is also economically sound.
The public is
learning that it costs more to have disease than it does to
prevent ito
It is now more generally realized that the public
health lies outside the political arena— that it is a field of
qa )
common and mutual interest— % fundamental in this respect as
religion or even patriotism itself.
»At present the medical profession, which includes
all of us, is under fire in this country.
Socialized medicine
and state medicine are becoming by-words for discussion even
in barber shops and shoe-shine parlors.
There is so much con-
fusion about this subject that even the medical profession its
Conf
EGP
TREASURY DEPARTMENT
U. S. Public
Health Service
Washington, D. c ,
Por r e le a se:
Evening papers, Monday, %>riT 11, 1938
Dr. Earl B0 McKinley, Dean of the School of Medicine
of George Washington U n iversity, today presented before the
Conference of S tate and p rovin cial Health A uthorities of Worth
America, a s e r ie s of maps showing the geographical d istrib u tion
o f disease in the United S ta tes, which, in his opinion, clear
ly in d ica tes the great need for a national public health pro
gram in th is country«»
The lantern s lid e s which Dr. McKinley showed are
photographs of w a ll-s iz e maps, made in connection with a.
study o f the cartography of disease now under his d irection
at the George Washington U niversity in cooperation with the
Carnegie I n s titu tio n of Washington,
The maps se le c te d were
for the United S ta tes alone and referred to the year 1935
for which data were o b t a i n e d S t a t e health a gen cies.
Dr, McKinley sta ted th a t the value of such a
study l i e s in the fa c t that a v isu a l presentation o f the
d isease problem reveals an e n tir e ly d ifferen t picture than
mere columns of fig u r e s .
”This is an age of v isu a l education”,
sa id Dr. McKinley, ”--a s w itn ess our d a ily press and our maga
z in e s.
So the r e a l purpose in portraying disease in th is form
i s public health education.
With p ictu res of such d iseases as
tu b era u lo sis, diphtheria, s y p h ilis , typhoid fever and malaria
before us, we may emphasize in s t i l l another e ffe c tiv e manner
U.
TREASURY DEPARTMENT
S. P iib lic H e a lth
S e rv ic e
W a sh in g to n
FOR IMMEDIATE RELEASE '
M onday, A p r i l 1 1 , 1 9 3 8 .
D r.
P re s s S e rv ic e
H o. 1 2 - 9 2
E a r l B. M cK in le y ,
Dean o f
U n iv e rs ity ,
t o d a y p r e s e n t e d "before
A u th o ritie s
o f U o rth A m e ric a ,
tio n
of
d is e a s e
the g r e a t
in
need fo r
The l a n t e r n
m aps,
at
School
C o n feren ce
th e
of
s lid e s
year
S ta te
a s e r i e s o f maps s h o w in g
w h ich ,
in
w h ich D r.
M cK in ley
a stu d y o f
th e
th is
ca rto gra p h y o f
in
H e a lth
th e g e o g r a p h ic a l d i s t r i b u
cle a rly
in d ic a te s
co u n try.
d is e a se
w a ll-s iz e
now u n d e r h i s
c o o p e ra tio n w ith th e
The m aps s e l e c t e d w e r e f o r
19 3 5 f o r w h ich
and P r o v i n c i a l
h is o p in io n ,
in
G -eo rg e W a s h i n g t o n
showed a r e p h o t o g r a p h s o f
t h e G -eo rg e W a s h i n g t o n U n i v e r s i t y
to
o f M ed icin e o f
a n a t io n a l p u b li c h e a lt h program
I n s t i t u t i o n o f W a sh in g to n .
and r e f e r r e d
th e
th e U n ite d S t a t e s ,
m ad e i n c o n n e c t i o n w i t h
d ir e c tio n
th e
C a rn e g io
th e U n ite d S t a t e s
d a ta w ere o b ta in e d
a lo n e
fr o m S t a t e h e a l t h
agen
c ie s .
D r.
a v isu a l
tu re
D r.
M cK in ley
sta te d
p re se n ta tio n o f
t h a n m ere co lu m n s
M cK in le y ,
purpose
tu res o f
m a la ris
need f o r
such d is e a s e s
b efo re
b rin g in g
us,
such a s
o f fig u re s .
as
is
fo rm
tu b e rc u lo sis,
such a stu d y l i e s
in
some o f
is
an
is
s till
tra g ed y o f
in
an e n t i r e l y
age o f
v isu a l
in
th e f a c t
th at
d iffe r e n t
p ic
e d u c a t i o n 1’ ,
and o u r m a g a z i n e s .
t h e s e p ro b le m s
now g o i n g c n i n
re v e a ls
s y p h ilis ,
an o th e r e f f e c t i v e
th is
co u n try.
re a lly
th e
are.
sa id
So t h e r e a l
p u b lic h e a lth e d u ca tio n .
d ip h th e ria ,
h e a lt h program
home t o g o v e r n m e n t t h e
t h i s . ,f
th is
we m ay e m p h a s i z e
se e what
nT h i s
our d a i l y p r e s s
d is e a .se i n
a n a tio n a l p u b lic
human b e i n g s w h i c h
th e v a lu e o f
t h e d i s e a s e p ro b le m
n— a s w i t n e s s
in p o rtra y in g
can a c t u a l l y
th at
ty p h o id
W ith p i c
fev er
and
m anner t h e c r y i n g
T h e man i n
We m ay h o p e
th e
to
street
a id
in
c o l o s s a l and m o n stro u s w a s te o f
a d im in is h in g p o p u la tio n o f
a g re a t n a tio n
2
-
D r. M cK in le y ,
sa id
the
in p a r t :
in p re se n tin g
«There
is
im p o rtan ce o f p u b l i c
m ost v a l u a b l e
is a ls o
It i s
is
to p r o t e c t th e p u b lic
le a rn in g
cal aren a— th at
th is r e s p e c t
th at
it
is
co u n try.
d is c u s s io n even
th is
it
co sts
of
co m in g to
is
th at
fo u n d i n
th e
h e a lth
th at
m e d ic in e
even
th at
th e - h e a lt h
of
th e f in e s t
is
not o n ly
but i t
is
a ls o
have
th e
d is e a se
of
and
any
sm art and a m a t t e r o f
e c o n o m ic a lly
th an i t
p u b lic h e a lth
and
th e p e o p le , ' I t
lie s
does
sound.
The
to p r e v e n t
o u ts id e
it.
th e p o l i t i
common a nd m u t u a l . i n t e r e s t — a s f u n d a m e n t a l
in b a r b e r shops and
th at
g r a d u a lly le a rn in g
It
th e m e d ic a l p r o f e s s i o n ,
su b je c t
re a liz e
s i c k n e s s and d e a th ,
d u t y a nd o b l i g a t i o n
o r even p a tr io tis m
S o c ia liz e d
n a tio n a l
first
h e a lth .
m ore t o
re a lize d
a fie ld
as r e lig io n
«At p r e s e n t
about
so c ie ty
of
th a t govern m en ts a re
They are
to p re se rv e th e p u b lic
now m o re g e n e r a l l y
in t h i s
h e a lth .
a s s e t a n y n a t i o n m ay h a v e
governm ent i s
p u b lic
m a p -p ictu re
so m e i n d i c a t i o n
b eco m in g a p p a r e n t to
common s e n s e
h is
in
its e lf.
w h ich in c l u d e s
sta te
m e d ic in e
sh o e -sh in e p a r l o r s .
th e m e d ic a l p r o f e s s i o n
a ll
of u s,
i s under f i r e
a r e b eco m in g b y -w o r d s f o r
There
its e lf
is
sta te
and
is
so m u ch c o n f u s i o n
b e fu d d le d
co n ce rn in g
it.
«We a r e
500 m i l l i o n
sp e n d in g
d o lla rs.
fo r
h e a l t h w ork fro m l o c a l ,
I n o t h e r w o r d s we a r e
se ven th o f
th e t o t a l an n u al b i l l
p ro te c tin g
th e p u b l i c h e a lt h r e p r e s e n t
w ill be
spent
« Is i t
th is
f o r m e d ic a l c a r e .
n a tio n a l
o p p o rtu n ity to p o s s e s s h e a lt h
term ,
in p r e v e n tio n
The t o t a l
o n ly a b o u t o n e - fo u r th
taxes
o n ly
o n ly about
f u n d s now s p e n t
th e
onefo r
am ount y /h ich
d e fe n se .
th e p e o p le a r e
The p e o p le f e e l i t
fo o le d b y th e vagu e
th is
fo r
an y w onder t h a t
s t a t e m e d ic in e ?
a b le
year
in v e stin g
fe d e ra l
is
th e ir
b e g in n in g
rig h tfu l
and h a p p i n e s s .
and p r e c a r i o u s p r o m is e s o f
I
to
ta lk
h e rita g e
about
to
am s u r e t h a t
s o c i a l i z e d m e d ic in e
s o c ia liz e d
e n jo y
or
a reason
th ey w i l l
not be
a s we u n d e r s t a n d
-
^Such. e x p e r i m e n t s a s g r o u p
W a sh in g to n and e ls e w h e r e )
t h is p ro b le m .
u ltim a te
in e ffic ie n c y
o f h ig h q u a lit y
The a n s w e r i s
to
and th e
carry
a u th o ritie s
lu tio n .
im p o s sib ility o f
The f i r s t
step
is
or
sta te
m e d ic in e i s
w ith rea so n a b le
in co m es,
v d .ll e v e n t u a l l y
of
in
so lu tio n
of
e n lis tin g p ro fe ss io n a l personnel
e x te n s io n o f p u b lic
e sta b lish m e n t
fo r a
here
own i n a d e q u a c y b e c a u s e o f t h e i r
lo w and m o d erate
to geth er
th e
th e
S o cia l
th e i n d i g e n t ,
fe e s fo r persons o f
and t h e p u b l i c
th em in - t h e i r q u e s t
f a i l o f th e ir
to b e fo u n d l a r g e ly i n
to
( s u c h a s l i a s "been e s t a b l i s h e d
fa il
on s u c h w o r k .
program f o r m e d ic a l s u b s id y
and s u r g i c a l
h e a lth
a r e - "bound t o
Such schem es w i l l
3 -
fin d
a
not
th e
h e a lth .
answ er.
such a
s c h e d u le s o f m e d ic a l
th e p h y s ic ia n s ,
sane
h e a lth
and p r a c t i c a l
so
a n a t io n a l h e a lt h program .
— 0 O 0—
NOTEi
Copy o f
t u b e r c u l o s i s map w i l l b e a v a i l a b l e
a t Room 2 8 7 ,
T reasu ry B u ild in g .
TRiàSUH*
Washington
FOR R J U 4 S I , M O M N G NKWBPAFBRS,
Tueaday, Aprii 12, 1958»
4/11/38
Frese Servi«#
Tbe Secretar^ of thè Treasury annoaneed laat avening that thè
tandera for #100,000,000* or tkereaboats, of 91~day Treaaury bill», to be
datad Aprii 13 and to matare Ibly 13, 1938, whiefe wore offered on Aprii 8,
were oponed at thè Federai Reserve banke on Aprii 11.
The detalle of fòie leene are ae follows:
Total applìed for
Total aeeepted
*
«
#197,199,000
100,138,000
Hong» of aeaepted bidè:
High
Low
Ave rag® prie#
*
•
*
(73 percent of m e
ru
N(S^
tv
99.973
99.941
99.943
Iquivalont rate approxiaately 0.111 pereent
*
*
«
0.134
«
e
«
a
0.149
*
aaouat tifi for at tbe low prie® waa aeeepted)
TREASURY DEPARTMENT
W a sh in g to n
EOR R E L E A SE , MORNING NEWSPAPERS,
T u esday, A p r il 1 2 , 1938.
4/11/38.
The S e c r e t a r y o f
ten d ers
fo r
$ 10 0 ,0 0 0 ,0 0 0 ,
d a te d A p r i l 1 3 and to
w ere op en ed a t
th e T r e a s u r y announced l a s t
or
th ereab ou ts,
m ature J u l y 1 3 ,
of
T o ta l a p p lie d fo r
T o ta l accep ted
th is
-
issu e
of
1938,
th e F e d e ra l R eserve hanks
The d e t a i l s
Range o f
P re s s S e rv ic e
No. 1 2 - 9 3
are
e v e n in g
th at
91-day Treasury h i l l s ,
w h ich w ere o f f e r e d
on A p r i l
th e
to
on A p r il
he
8,
11.
as fo llo w s ;
$ 1 9 7 ,1 9 9 ,0 0 0
10 0 ,18 8 ,0 0 0
accep ted b id s:
H ig h
L ow
A verage p r ic e
(72 p e r c e n t
—
of
th e
99*972
9 9 .9 6 1
9 9 .9 6 3
amount h i d
E q u iv a le n t
»
u
fo r
at
~-o0o'
th e
rate
«Î
rt
a p p ro x im a te ly 0 .1 1 1 p e r c e n t
I'
0 .15 4
“
H
0 .14 6
n
low p r i c e
was a c c e p t e d )
Wmà
or Asna»
Government
Ssourltiss
SOVIBMSlt»
guaranteed
Ssourltiss
Other
Ssourltlsji
A* of ¿sacar? 31, 1938î
Fsdsral Farm Uortgag® Corp• •*•**•-•
Psdsiml Land Book» •»••»••*••»*••••
FodWfol Xntsrasdlats Crsdit Banks
Bosks for Coopsratlrss *».»*•*•••*•
Produotion Crodlt Corporations «•••
M ü l l » Qrodlt i m s U l ü »
Joint Stook Band Bosks ...... .
1$ Fsdsral Boas Loss Bask» .......
...Boas Ownars1 Boos Corporation •••••
Totals •«••***•••••
sa
63,708 ,■
51,738 V
4,768"/
1*278
i
10,000
31,895
13,995
01*092
4
it j m
®
18,430 *
U W /
»93,648
13,977
sa'
*
-
<87,687
<870,367
S M O M B I
Botos A U trust fonds m y Bt isrsstsd ta Ooveraaoat and
öoversssoat-^uarostssd ssourltiss, and osrtaia fonds
aa? also Bs ixrrsstsd Is additional ssourltiss as
indloatsdi
(1) la Foderai Basa Boas Bonds;
(B) Ho limitation,».
Accounts and Deposits
Maardh 1?, 1938
imam
a/if Jte
761,130
1,190
•
6,838
36,683
$Mü
Government
SSBtódUtiLtil
Governmentguaranteed
Other
S*ouritlf Seaarltlw
(GOO omitted)
A t of February 33, 1938:
Mutual Mor&gage Insurance fand ......
Federal Saving« and Loan Insurance
Corporation ......................
Penerai Post Fend, Federane9 Ada. ...
Civil Servite Retirement and Die»
ability Fond .............. .
Foreign Service Retirement and Die*
ability Fund .....................
Canal Zone Retirement and Disability
Fund U) ............... ......
Adjusted Service Certificate Fend ...
U. S. Government Life Insurance Fend
(1)
Library ef Congress trust Fend ( 3 ) . .
S. 0* teachers9 Retirement Fend (a) •
D. 0. Workmen'» Condensation Fsdd (1)
t^
Harbor workers9
Condensation FUad (1) ......... .
Osman Special Deposit Account ..*.**
Allen Property Custodian Fund .......
national Institute of Health Gift
Fund ............. .
Railroad Retirement Account .........
Old-Age Reserve Account .............
GUeqplopnsnt trust Fund •••••••••••••
Controller of the Currency lUployees1
Retirement Fond .......... .....
Pershing uall u*w **l#l Fend •*...«•••
Rational Park treat Fend ( 3 ) • • • • • • • • •
Ainsworth Library Fund, falter Heed
Ornerei Hospital ...............
Alaska Railroad Retirement and Die»
ability Fund ....... ...........
UttlLOH
totale ........... .
3/17/38
$ 937,130
389,870
43,468
1,860
18,906
$ 188,834
8,485
1,107
101,967
73
6
ee
1 20
390
\
389,895
-
-
3,318
-
-
•
•
ee
sa»
3,815
30,000
730,842
1
5,047
10
ee
•
-98
ee
201
3,967
30,410
•
-
83
90,000
595,100
734,165
«
ee
-
43,<
3,
20
705
335
13
m
m
10
-
379
•
$3,967,900
sg*l
Postal Saving« System............
Federal Deposit Inaurano« Corp....
Individual Indian Frost Fond*
Panane Panai Zone Fand» (1) •••••....
-
$368,903
43
i
4
$4jV
a
vHgfTQWWBBKw»
(kmanmm t
supini: Amar,
attor
SmacUim s««*«*»*— saporiti.,
(000 aaAttad)
ÌNWfdSd
Adjustad Sarrlaa Casrtlftanta
...
f* S. flc w w w aal 64f* Inaurano# Stand
<1> . . . . . . . .
U ta u y ©f Cg<oss ^*Tttst
(a) o
»• C. ftotisr»1 BstlMMat farad (3)„
B« C, Sostassi»© temma&tlon Band (X)
Lcm&toturttn*» and Ha*ter boston»*
QùmpmmUm farai (1)
O m r m m %a©laX
toeaat
Ali«n fropertgr Custodisti Jtotd #•**#**
K&ti©asl iagiitmtt ot Health 0ift
M I **#••*#•##•##•.♦♦##♦##♦#♦,*♦**#
PailroaA M & N M i t kùGmmt •*•»•«**«
O M W t o Bsserfu t o m o *
$iisi8|d,<$ris&t Trust BlUd ••*«•••**«»•»
Ctoptollsr ©£ tto 0mrwM& Sapld^©#©*
usttrtnast
Perahiatf Hall ^toorlal Farad #•*#«»*•»
fatlsasl Paste Trust funi (a) ••«««»*•
Masseria tdtasrr Barai, Saltar Bssd
®WMWPft3L Bsgpdtod •#*•*»••«»••*•»***
Mastera Salitosi Bstlrerasrat arai Bla»
»Mlity Bssd
3btoX$
#
41,766,603
30,000
f»*É4S
1
«* m
m
m
z ,m
1363,878
*
4S*
aia
3 ,m
il
10
43
to
83
to
to
te
805400
734,185
44
W
tJS»
iP
su
SS’
311
to
43,067
m
30,40.0
70*0 00
$
te
to
to
to
to
to
m
*08
338
ia
to-
to
to
to
10
to
to
m
to
«a»
to.aa?.Bflo■mmm mteaa.flss
i ab.oss
m m S m m X Smim ?W8»iMWi4»<MU»
A# of Jtawaay 31. 1938t
Faterai Sta» »ortgaga Oorn... .
Fatemi £an& Stoica
fedirai. tatorasdl&to Creili Beato,»,,
Beato far 09op«mtiT©9.... .
Credit <torpoyuti©»#
Credit Assosìatloas
¿©lai stadie t m & Batto
pmdmfrlm
Frodasitea
l » M
Kos?©
Bande© •»»«»•«»*•••»
te
60,173
63,708
m 973@
4,788
1,378
1,638
18,430
to
§
10,000
3i,8sra
13,878
11,0112
V»«ft
Ita «
761,130
1,190
te
6,638
36,882
74,618
383
to
Ho?s» 0 m ^ 9 f Lana Corporati©»
fatala
Hotel
TOtiHBW
MtetiMM«*
4J8Ìl8fi^ àAsMmm JSBMSLm
All trust ftatds «ugr
larostsd la Ckmimaeat and
O o y s m m t ^ ^ i i i t o d sssariti©», arai ©©rial» furai*
raecr alio Ini lawsled la oddltìoael ©©©uriti©© ss
Ìndicatodi
(1} la Fedirsi t o Losm Beadsf
(a) mlimiintiera**
iSOSABBOOGif SSsTAIlS&ÌISlfS?
WA3HIHCTOKg E #0#
wm mmmATB m m m
F m m %wfim
te.
Wm Seeretasgr ©f te»
bua announosd t o t e tfcat l i -
mmm ©f III# muwmm inquisì«« mmir®à rdlati*« te te» m&m% ©f
tem m sm te mmvriMm h*&& la ip«w ftw »lid i r t e aiw uni« and Ir mw*m»
» i t a l ©g«nei«s imi ©©spasmi!©«©» temà ©ote In tern ilo » *111 8© se»
l«&9«d
l U
n i Hi# Hit e t « t e m nth te m la s
i f ©£ te© precedi©« nonte*
f ir n * * * m
» t te »
1««8
Soni) fim m » m » f te» M m W tetate
la tesmair» 1&3S t e optala ted a and a p a i a ©ad a» ©£ #«@ «Ut ©£
¿munsy t e ©©rifila ©©snodati©»©« a** a# ifcHovftt
fSWSfUSftUt'V^t WWtTi
A«
Tll <pf3|lU*P
iti
iati,tu
^i. sfutiirra«#®
MhNMpMmwlMMH
«a
A«¥t
¡
■
Afe.
Orvnwnl»
Gtmamaeni
go«ssmt##d
©tesar
jtttàMdÉ
ZSlàJMLi**
(ODO
A» »t Ttemmàp 23» 1938*
$ 9,1?.130
389»870
43,458
• lfif*834
Fadwal 9©p©sit l& w a m im Cofp**«.»**»
Siidl«dd$3©l ladina SSr©©i J^tsawi® *•••#***
Panataa t e a ! t e ® t e d a (1) •«#»••••••
i.oso
8
tea*& tet& api tn m r m m te& »»••»«»
fa t e s i Savia©» and t e a tasasaao©
Q©*porail©a ***♦•♦**#***#••***♦**•#»
G irli Sarrio» BrtlH i t t and S ii"
18«905
rasisi satin#*® sr©i©®t ••••••*••*•««•••
< M U « g r » « I #**•••»•••*•*•**««#*•**
General t e i ted» V tite& m »* te«,*««*
Fosti#* Sassi©« t e t e t m m i and Ma»
« M ite t e d #**«**■***•***•***#***«•
Canai a m Mt&NNMt and K « M U »
And (1) ***#*#***•***»*•**•***»•«**
t e s i temasd
8«ésa
«e
va
80
210
101»98?
339 §805
1»10?
3,318
M.„ iiiMllSftflS..
i L m & S L
i m a a
u
»
u
4»
3
floaertaMnt*
GoV wn tBIBUl
otte
Seoaapltiee Saaaylfri^
(000 tettai)
5S»i®X f*ra$iria6 •**#****###*«#*•••**#*«
Mjutiei Sarei*» G * r % tttm % * P m à •••
f* 8* Geearxaaant hif# 1& m a m m tee.
* 1 .7 6 6 ,6 0 3
3 0 ,0 0 0
#3 6 8 ,8 7 8
«#
(iÌ *****•*«•♦*********#*♦♦*«»•#♦♦*
7 3 0 ,8 4 3
1
8 *04?
10
4*
«*
98
«
4 2 ,0 6 7
443
3*181
n
HE
3 ,9 5 7
3 0 , 43.0
10
a*
te
43
«*
te
83
7 0 ,0 0 0
5SG*1G0
734*188
a*ip
«4
4l
te
te
te
te
705
236
12
m
m
te
te
te
10
te
te
te
.te
library of t e i p i fidili f t e i
«»
3« 0* ^»adbk«rs*
fteA (2 )..
3« 0« Boxteati*» 0w>att8&ii©a t e d (1)
3te£*bsr«raaa*9 «siti Barbar Woifcara*
OaB&Ma$»&ila& laS&d (l) **«#»*#•«••#•
fir n » agttoìal Bapoait Aoooa&t •»#•*«
A li« P r o p o r t i O t & t e è l m f m d «••«.*•
Mattasi Inai!iute of Health O&ft
t e i ***#***#*****#*»*•««*#
^
.... „
tei
.ia g b K L
m
-w :
1
Aitala *•«*#*#•«#**•
a i
te
I
Ballrea& leHrenaKit Àeeeaat *##*#*•**
Basare* Àceouot •»**•»«#«»«««
Trust t e i »•*»»••*«*•«•
Caaptroller of ih» Q w r m w p telte**»1
Bettreaaat t e li «*»*»**#•*#****«***
Farélag Hall tenorlàl t e i •«**••«*•
M ifttel tet; Truat t e i (2 ) ••«***««
Aiaaaorth library t e i# Walter ®e»i
iaaMtifii Haajiiial «•*####«»*#•*•*•##
A late BallroaÀ Betiraaaai usai ma»
afeillty h aà •«•«•#•**«••*••••••**•
Q lé f ù m
U n m ^ X tsfm m t
I
Ai of J«anaay 31» 1938t
JtP»8al Fara ItiiHMPiÉf» Carp•«•**«•••*•
fedirai teli irate» ##*•**«•»*♦**** ***
fatem i Xateraa&lata Credit late«*««
Baste for teopar&tlres ***•»••#«••*••
Prateetio» Credit Corporation* ******
F i t e U o i Creili Mtoeiatloft« ••«*•»
datati siaolc Inaili la tta •*•••»••*•**••
fedisci Kmi I*as8i Basica •*•**•*•»**••
Bufi® Orsi-era® Inai Corporwtio» *••#««•
fatala *•**•#•*## *•
Hatat
WTHjHBW
4»»
80*173
6 3 ,7 0 0
Iti
OJ»*yr *«
3®
4 ,7*6
1 ,3 7 8
1* «
1 8 ,4 3 0
i 192*948.
te
i
1 0 ,0 0 0
tPrCI
%:«
teJMI
iaBf se©
1 1 ,0 8 8
7*381
1M &
& m . m ..
JH1 tru st t e d a taar he lavaated la t a m l t e
aaatsritla»# t e a erta la t e i »
t e alea he i& eestad la t e l t l a t e i t e r i t i * » a»
in d ica ted i
(1)
l a f a t e t i t e a locai i t e t i
iti
1#
lla ltu tlo a » «
7 8 1*130
1*190
te
6 , 5»
33*683
74*818
*%A.®
«« ....
ai>D«aff_
!
m m m m
w&Mmmss
wjgmwmm,
b .o *
lot mmwum mumm
Prass Sarrio*
Ü*
fhe Seereta*? of ü t fresse*? bas announced ieêsr that fes*
eau«* of th* s a w m i inquiries wfliiwd relative to the a s i l of
OoTomssiit « U
m
M
l t i h eld to goTOtanental tru st am ounts « A t? govera-
agenei** and eoriwration** th at
such
in forn ati*» f i l l to
re*
l*a**d heraafter at tb s end o f « É nonth A t Ä f fíg a ro s as o f « a i la s t
w*dn*sd*gr o f th e preceding » à f
Snob fig u r es as o f th* last Wodoesds?
tu M nusqr» 192® for sortais* fm&* and agenei** sad as of the sod o f
¿anuas? for oortatu ooiporatioaa, aro as follows:
»m uffii am) as iwm’mmrs m msm mm®.
1
S
Æ
Ü
S
GOTOSUMUt
Oeeeru^eat*
guaranteed
^prltlos
jfrswrttttg
Other
(000 fitted}
As of febreal? 23« I938t
Postal Savings %s%üi «•••*••••*•«*•**
fodsral Ssposil Insuraaee Oesp*.,*.*.*
Individual Indian fireet ftadto •*.***•*
Bansen Canal Zone rasais (1) •»••»«•••«
Mutual Mortgage Inaurane* Band *******
fedora! Seeing* end Loan lasarme*
OerporaAiwe ****•***♦*♦«*****•*•*«*•
lift Servie* Betiroeent end Bieabiliti? fend »***************#«***«•
Osarsi Best fund* tetespens* Ada******
foreign Servio* Retirement and Bisabilit? fund ****»********#«**«*'***»
Canal Sene Bstirsnsnt and m«ability
fend (l) *********** ^••••♦•»♦•«•♦♦*
f e t a l forward
$ %m 9im
359»870
43*408
1,860
18,905
« 188,83«
**
fs
8,465
101 , W
9
$
30
300
*»
aas,am
1,107
eer
3,318
-
3.615.
.
81.766.803
a*
e*
i,„«.sm
1
m
»..
É
▼essii311
iTpPMnii||Wl
«w,ww
m 2$ m
Goreraaent
logoritela*
«uaranteed
Saporiti**
Othar
Seganti«^
(000 esdtted)
$1,766,603 *368,878 I su
alte'
30*000
*
0* S. aoteeranant léf# Stesa®»®«* f m à
»
42.0«?
730,663
(l) #*•*»»►•*•*•♦*••**••*•*•»•••#*»*
e
»
1
Library o f Goagre** fim i fin ti (3) ••
95
§-Mf
2*161
8« C. ftesdli«?*1 Retlremeat IMI (3)»«
«*
10
11
1. 0. Sostatasi1* Ooapanfiatlcm f m & (X)
Im t g t ìm & m m * * m à Sarte©? Soste*?**
101
IO
46
COttpeiieilteiOA i*0A4 ( X ) **•***•*•••**
e*
e»
3,857
Oasatan spedi»! Itepoeit Aooooat ••*•«•
m
4»
30,410
Alien Propertgr Custodia* Fmd . . . . . . .
l i l M Institele © f Health ftf'l
tee
Éd
83
Fard ******** **#*i* *«#**#**#**•* »»*#
e
*
t
er
70,000
Railro&d K * t A r « M n t Aeemiat •***««»••
«
no
e
*
.
596*100
Old-Age 1 B'mrm Aceowit «•*•**#«**•••
m
e
ftéfiii
•
XJmsB^loy^'Snt Tmate Futid *•**•*•***•*•
Coaptroller o£ Ite# Cnrrener St^logr»«**
«*
te*
705
2t#teij*©si@nte l’usd ••*»»•*•*•**•**•*«*
m
e
t
e
e
*' 25»
Persbin^ Hall ?£©■©?tal Ftmà
«
•
>
13
VAtioaol Fatte Trust Fand (3) ••*•**•«
Ainswortts Xdter«?3r Poad* Walter Seed
«*
se
10
Oeneral So©pital ****•*«»•****•**•#
Alateca Sf*llroad H*tlrooa»t m à M * ~
«ne
.-t©
^
. mt r
atetXitjf Foiid **********************
Mtòtì . teas.aaa- É48.038 .
Itetal* *••* *#**♦#** * Én
Botai *eFteAFdted ••#**•«»•*#***•#*•****•
MJustad. Serri©* G ertiflont# Fuad •*«
A* of
Jmvmsr
31® 1938*
Foderai Pasra Uortgag* Oosp,.*.... **•
m
Indorai land Saniea ****«*••••»#**•***
Foderai Intermediate Credit Baatee**♦*
Basico Far Ceojtterattte©® *•••*•*•«*•*•*
Frodtsotio* Credit Corporation* . . . . . .
Frodasteioa Credit Associatici!» ,»«*•«
«¡folate Stook Xiaid Biotte* ••**•*•••**.••
Federai filili# lessi Beote© «**•*•*•*«*•*
M&m 0w m m * X*oan Corporati©» •«••*•»
eo.m
Totali
lietet
«e
«
10*000
3X *886
13*§76
11,082
7,36i
1i p i p
m ..
63,705
51*763
4*786
1,376
1*633
18*450
..L $ L * § 3 L ~ M * 31* —
All traete fende ®*gr te iareateed in Gorensaent «md
a©r*rnm©&t-»#2*?aate*d «©©ariti*©• and ©ertala fted*
aagr alno tee tneeeted in additi©»*! seo u ritìe* m
indicatedi
(1 ) In Federai Far* Loa» Sonda;
(8) So limitati©»**
WTHjHBW
7©jL*X«9U
1.180
te*
6*5 ai
36.682
74»51§
342
•
.-« --f-
M t t S Q H T 3SPASSB£®WP
wAmmmm*
101 B ü H d A H S
»,oÄ
rroo» barrico
iO#
M
fh« S te rile r of ih# froasisæy ha* am m m m â lodi? that I#»
Ogü» of th« sonarono
noootrod illa tiv o to Ih# mmm% of
OoTommi m ü ú H tim hold io m ^ r m m tiû . irosi aoocnmto «A V P W montai oooaoioo asi oei^ofaiioii«t that moh ■lafiso a lii» o lii ho m*
looool haraaftar ai tfeo and of «sah racmih showing figaro» m of ih» loot
Wéd»ood*gr »f ih» prooodlng month,
tah
figaro» m of
ih#
la t i Mboatop
la Fatala*?, 1838 ih r optala fonda «ad a p a io i »ad as of th» omd of
i m m a p for «sortala eorporatton», aro »» fo llo w
s m m n m m i ? .1 $
im á
tac A
m m
(krvormnt
goarantood
aooiintl&t
^ocairltla»
(0 0 0 s n ltto d )
Am o f rotaia*?
23,
1930?
Footal tlimdngn ^rü« ******•**•****•»
f odorai Sofpoolt inaurano» Oorp**♦•#***
Xndlriduol Indian 53m»t fand» ..............
Panama Comal Sooo food» Cl) ••♦•*♦•••*
M utual Mortgag® Xnooraoaa» Ä Ä
» •* •••»
«f,iaö
368,870
m
no
fi'
43,4%
1
1,890
18,808
8,488
C ir ll Starlo» Botiroßoai »ad M#»
oifedlltgr fond **,•»#♦•**,**«****»**«»■
General foot fond« Totoraao* Ad»«,««**
Forali?* Servio» Botiroraont »ad M m t
ohllltsf foad
^m
ttkiáKk :afèaüÊstè,W
&
i!'
fond (l) **«*.*•#*-«♦***#*******»•**»*
«an
1,108
4»
»tat ftrwart
_______
m
to.766.aB3
888
101,967
«N»
Canal Sono Ä o ü ro n o a t and H o o h lllt?
80
#0
388,888
»„at
8
«an
fodorol Ssfimgs «oíd loa» ls»iir®ooo
Corporation »»#♦###*■*»**##**»'*#****♦
«an
$ 166,834
m
m
* 368.378
1
« 9*
m
£.., ,5U ---
Government
Secar!ties
Fünf A V Aff#ma»
Governmentguaranteed
Other
Securities Securiti*.
(000 omitted)
Fetal forwarded «•«•••••»•••,•*••••«•«•
Adjusted Serriee Certificate Fond ,M
0« $• Government life Inaurane« F M I
Cl) •••*»••#••••••*•«••••«•*•••••••
library of Onigrtti fruet Feud (S) *•
B* C* Ffaoliere1 Retirement Band (2)M
B. 0» Workman*s Oompeaeatioa Fond (1)
Longshoremen1s and Harbor Worker»1
Compensaiion Fond Cl) ••**•*•*•••#•
Seram» Special Deposit Account *»«•««
Allen Property Custodian Fund
fational t a e ü i u l e of Health Sift
Fund ***•*••***•••#»••••»*•****«'»••
lailro&d X e t t r e a m t Account **««*•»••
Old»Age Heserve Account ••*»•*««*•#••
üaeaç&oyment trust Fund •••*•«•»•••••
Comptroller of the Currency Ihpl^reee*
B e t i r a m m i Fund «<»•••**#•*•••••••••
Pershing Hall Memorial Fund «««.,.*«.
Vatlenal Ä
trust Fiad (2) «««a***«
Ainsworth tdbrary Fund# Walter Heed
General Hospital #*•••
Alaska Hnilroad B ettrasent
m à
a . 766.803
30.000
730.843
1
5,04?
10
101
3,957
39*410
$388.873
«*
$
ueem
SS
-
m
43.087
442
2*161
11
80
43
*
*
fit-
m-
S3
70*000
soe.ioo
?34#16S
ups
es
ne
üe
705
230
4»
«P*
Sd
»
ÜU
V
ut
-
12
10
us
de
80.173
83,708
51.738
4,788
1,378
1,638
18,430
m
SU
H i*
ability Fund ••••#**••••#♦###■♦**.«•,•.
ühtnls *•«*#. *•»*#«*•
Ai tf January 31# 1933:
Federal Farn Mortgage Corp......... .
Fsäsfsl
Basics #•••«•••*••••»••••
Federal Internedint# Credit Beeke«•••
M l
for Cooperative» fV#t#««Mtit##
Production Cr «dit Corporation»
Production Credit Associations »»,•••
J fiat Stock land Baaks «•««••«*«••*•«
Federal Homi Loan M « •» .....................
S
10*000
m,st8
761*130
1,190
un
6,525
a ,663
11,082
7,351
13,07.7
74,518
«g^g
-
Ione O m e r o * loan Corporation •»***«*
\
Totsils •••«»••••»•#
$ 193.948
3«i85B SH **epSS8ilS^B S B 8K 2
Kote:
¡üj$u*8>— iweh/miT■ijuii:<j>iwfi»n<i njn
All trust M i
say be invested Ia Government @ad
<k>verna®nt~gu®rsnte«d securities, and u r t a i » fondo
aay also be invested In additional securities a«
indicated*
WTH: HBW
8 87.887
Cl)
I» Federal Farm loan Bonde;
(3)
Ho Haitation«.
870.38? ..
THKA3UEY
WPMXßßBlf
MAmmmm*
i.o.
foi mmmkm muum
Press Sorrise
te.
9m
Secretary of the ftraasaxgr has a w m c s t today that bo-
Sams« of th« nuaerous inquirí«»
rasetred
relative to the a t o m ! of
Government securities hold in govemjsfflatal trust accounts sad
aent&l agencies and corporations, that smoh inforaatloa Ä 1
ty
«overa-
ho re
leased hereafter at the end of eaflh «oath showing fígaros so of the Xaot
Wednesday of the preceding aonth.
Suoh f i a r o s as o f the last Wednesday
ia fihroaiy, tili Ihr «ertala feeds tai ágeseles sed ao of the end of
Jatraaiy for sortala corporati«»#* ars as follows?
s m m n m
m&a
i H V s s m m ^ s ^ü.farsf.
iW
a goto:
£Ut
ItfOlPyi
«
1
1
«
M
M
as
ft di S O ■* 'KSSl IliISilfi tfr li
Government
guaranteed
âBSMUUta
M
i
Other
»
(000 oslttad)
Am
of f i t o u i r 23, I M f c
Postal S n t e i ÿ l U i ........ **......
Federal Deposit Inaurano» Corp.... .
Individual M a
fflnwt P w a d a ....
Panaaa Canài a n a fund« (1) .........
Mutual Mortgage Inaurano» Fund .......
ïadaral Saving* and 1*8* Inaurano»
M
»
369,870
43,400
I M
18*908
$ 158,834
V
G erperstie» •***••♦♦♦»♦******#*♦•**%
8*488
101,987
Civil Service Retiresent and B U ability rood ••••»»««••***•«•••»****
General Foot Fond, Votarono* Ada.....
Foreign Servioe Betirement «id Dis
ability M i ............. « » . M M » *
M
Zone SstlrsMNkt and m s a M l t t y
rood (i) ,..,*..t..*t*M**.M»»**#**
feted
forward
n
8
1,10?
0»
0)0.
3,318
Sift'
■n,.iiJbMJL
L f l L H
40 ,n.T
» 8Ms(B&
♦— a *—
Toa «U1 mmúX tfc&t «s fca*» W & smlax' of i a # n t «
froa til» proas sad üthar* for tg&MaallMk ráLati*» to fti# sacurities
W
as imnastaent« la tros! aooowi«» ele* tipa* roooipt #f U ummi
zaga»«!** th© ItegrartsMt Isas usually ñmiléeá t&o laffesaatiMi la
wmtmxsr fom* that li, % ftetiá er agsitey ««íwsaratoá as le Ocrvurnstent
sacarinos,
ssssritl^* and etk@r ssoaritlos«
tm
vis*
mi
th#
immmuáMg
tutor**! i» Ü i
aattsr* i! la
suggostsd f&at ti*s froasory pta&liMi la tfe# for» of a prosa rétsaso
& f ^ t i O y s t a t o m n t ahowiag thls iaforaatioa. A statsusat «solt te
issasd el th» «ad o f eaeh snonth aliowli^ th* **<siriU*s teald as of
the sal o f th* ptmméim ©oath. Ifistl* th# statsasats «ateUl y ^ l s e t
oparatiema lagr H hi Troasttry ate eltef abanóles 1m
tem& aartest#
y«t th* infonaation i ^ l i te* a twmth ©Id teN« aaSo afraila*!« Ü
ps&lím*
I do ao* sos any objoeHon to m ádag thls
afratliilíl* 1» teis i w o m s s ,w tf yero sfip$w«fr«* ^ « r * is *!I for Tsleass a «teUant tóawdag Hits lafsoraatloa Mi «f tfc*
essrrsatly
M
®ad o f M x u a i y , 1938, for M
prtsiUpaa tras! iaá tsmstsrasl
soooosEt* and with ¿assoaxy fijaros for M rtala oosporati©as•
á p r U 7* 1*3»
WTHjHBW
JÊmmtâm,
.§ M i m
T o a « H X recall that «» fca*» had a mmb&T of inquiries
from the press and others Ter information relative to the securities
held ft« investaoats in trust accounts, etc, Upon receipt o f these
requests, the department has usually faraished the information in
s a n 9 for«» that te» t r fund o r agsncy separated as to Government
seeoritiss, Gcrvermflsit-^uara&teed securities, ani other securities,
tm vie» of the increasing interest in this «atte»«, it Î*
suggested ite# the Trsasayy p H H M f e In the for« o f a press release
s aeathly statenent shoeing this t a f o r m t i «s. â statement could %s
issued st t he end o f Sech «oath
the securities held as o f
the end of the preceding Mttlfc* W i e the s t a t s M i t s
reflect
operations igr tfet Treasury @nd other agencies in the tend «sähst»
yet the Infornatici! «seid h e s «oath old 4 m m Made « v a i X i M e to the
pshlie.
X do not see any objection to Making this inforsatio©
earrenfiy
is m s asaneT. If y e a approve, there to at
tached for releas» s statement shoeing this laforaation as of the
end o f 3W>raa*y, W m , for ß m prlao&pàï m m «ad Isveatseat
accounts sod «itti f mossy figures for c s r t ó n corporations.
;
A pril T , 1 9 »
W T H jH B I
TR EASU R Y DEPARTM ENT
WASHINGTON
Memorandum for Mr, Gaston:
You will recall that we have had a number of inquiries
from the press and others for information relative to the securities
held as investments in trust accounts, etc. Upon receipt of these
requests, the Department has usually furnished the information in
summary form, that is, by fund or agency separated as to Government
securities, Government-guaranteed securities, and other securities.
B M
In view of the increasing interest in this matter, it is
suggested that the treasury publish in the form of a press release
a monthly statement showing this information. A statement could be
issued at the end of each month showing the securities held as of
the end of the preceding month. Ihile the statements would reflect
operations by the Treasury and other agencies in the bond market,
yet the information would be a month old when made available to the
public.
I do not see any objection to making this information
currently available in this manner.
If you approve, there is at
tached for release a statement showing this information as of the
end of February, 1938, for the principal trust and investment
accounts and with January figures for certain corporations.
April 7, 1938
t
-
2
~
Fond or Agency
Government
Securities
Governmentguaranteed
Other
Securities Securities
(000 omitted)
Total forwarded .........
Adjusted Service Certificate Fund ...
U. S* Government Life Insurance Fund
a ) ..............................
Library of Congress Trust Fund (2)
D* C. Teachers* Retirement Fund (2).,
D* C. Workman*s Compensation Fund (1)
Longshoremen*s and Harbor Workers*
Compensation Fund (l)
German Special Deposit Account ••••••
Alien Property Custodian Fund •••••••
Rational Institute of Health Gift
Fund
.... .
Railroad Retirement Account ••••••••*
Old-Age Reserve Account •••••••••••••
Unemployment Trust Fund «*•»•••••••••
Comptroller of the Currency Employees*
Retirement Fund ••••••••••*••••••••
Pershing Hall Memorial Fund •••••••••
National Park Trust Fund (2) ........
Ainsworth Library Fund, Walter Reed
General Hospital •
Alaska Railroad Retirement and Dis
ability Fund
To tals«....«••»..»•
$1,766,603
30,000
730,842
1
5,047
10
101
3,957
30,410
83
70,000
595,100
734,165
$268,878
—
$
311
—
„
42,067
442
2,161
11
95
—
10
43
-
-
mm
mm
-
-
-
705
235
12
«•
-
—
10
-
-
279
mm
-
$3.967.560 _ $368,983 _ $ 45,035 _
As of January 31, 1938!
Federal Farm Mortgage Corp..........*
Federal Land Banks •••••••••••»••••••
Federal Intermediate Credit Banks.
Banks for Cooperatives .••••••.••••••
Production Credit Corporations ......
Production Credit Associations ......
Joint Stock Land Banks •••.••••••••••
Federal Home Loan Banks ......... .
Home Owners’ Loan Corporation •••••••
Totals
Note:
50,173
63,705
51,738
4,786
1,378
1,638
18,430
1.100
6
10,000
31,595
13,876
11,082
7,351
13,677
761,130
1,190
6,525
26,682
74,518
242
-
_
$ 192,948 _ $ 87.587
All trust funds may be invested in Government and
Government-guaranteed securities, and certain funds
may also be invested in additional securities as
indicated:
(1) In Federal Farm Loan Bonds;
(2) No limitations.
—
870.287
ff]/*
TREASURY DEPARTMENT
WASHINGTON, D.C.
/V"'
FOR MiSifflBIàæ RELEASE
Press Service
<J
No.
«^re* Secretary jBfc-theQreasnrjjTBjftnn announced today that}be?- o*~
cause of the numerous inquiries received relative to the amount of
Government securities held in governmental trust accounts and hy govern
mental agencies and corporations, "that such information will he re
leased hereafter at the end of each month showing figures as of the last
Wednesday, of the preceding month.
Such figures as of the last Wednesday
in February, 1938 for certain funds and agencies and as of the end of
January for certain corporations, are as follows:
SECURITIES HELD AS INVESTMENTS IN TRUST FUNDS AND IN ACCOUNTS
OF CERTAIN GOVERNMENTAL CORPORATIONS AND
AGENCIES ON DATES INDICATED
Government
Securities
Fund or Agency
Governmentguaranteed
Other
Securities
Secnritiei
(000 omitted)
As of February 23, 1938:
Po stal Savings System ••••••••••••»•»•
Federal Beposit Insurance Corp........
Individual Indian Trust Funds
Panama Canal Zone Funds (l) •••»••««•*
Mutual Mortgage Insurance Fund .......
Federal Savings and Loan Insurance
Corporation
Civil Service Retirement and Dis
ability Fund
General Post Fund, Veterans’ Adm......
Foreign Service Retirement and Dis
ability Fund
Canal Zone Retirement and Disability
Fund (1)
Total forward
$ 937,120
359,870
42,458
1,850
18,905
$ 166,834
gj72
5
.-
8,465
101,967
-
389,895
1,107
mm
3,318
-
3.615
mm
SI,766,603
i
268,878
$
20
290
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON PAPERS,
Wednesday, April 13, 1938.
4-12-38
Press Service
No. 12-94
Secretary Morgenthau announced today that, because of the numerous inquiries
received relative to the amount of Government securities held in governmental
trust accounts and hy governmental agencies and corporations, such information will
be released hereafter at the end of each month showing figures as of the last
Wednesday of the preceding month.
Such figures as of the last Wednesday in Febru
ary, 1938, for certain funds and agencies and as of the end of January for certain
corporations, are as follows:
SECURITIES HELD AS INVESTMENTS IN TRUST FUNDS AND IN ACCOUNTS OF
CERTAIN GOVERNMENTAL CORPORATIONS AND AGENCIES ON
DATES INDICATED
Fund or Agency
Government
Securities
Governmentguaranteed
Other
Securities Securities
(000 omitted)
As of February 23, 1938:
Postal Savings System ....................
$
Federal Deposit Insurance Corporation ....
Individual Indian Trust F u n d s ...... ........
Panama Canal Zone Funds (l) ..............
Mutual Mortgage Insurance Fund ...........
Federal Savings and Loan Insurance Corporation
Civil Service Retirement and Disability Fund
General Post Fund, Veterans’ Administration
Foreign Service Retirement and Disability
F u n d ..................................
Canal Zone Retirement and Disability Fund (l)
Total f o r w a r d ...............
937,120
359,870
42,458
1,850
18,905
8,465
389,895
1,107
3,318
3,615
$ 1,766,603
$ 166,834
-
-
72
5
101,967
20
290
-
—
«
1
_
m
m
-
$ 268,878
$ 311
-
2
-
Fund or Agency
Government
Securities
Governmentguaranteed
Securities
Other
Securities
(000 omitted)
Total forwarded.................. ........ $1,766,603
Adjusted Service Certificate Fund ......
30,000
U. S, Government Life Insurance Fund (l)
730,842
1
Library of Congress Trust Fund (2 ) ......
5,047
D.C. Teachers* Retirement Fund (2) .....
D.C. Worknen*s Compensation Fund (l) ....
10
Longshoremen*s and Harbor Workers*
Compensation Fund (l) ................
101
3,957
German Special Deposit A c c o u n t .... .
Alien Property Custodian Fund ..........
30,410
83
Hational Institute of Health Gift Fund ..
Railroad Retirement A c c o u n t ...... ......
70,000
Old-Age Reserve Account .................
595,100
Unemployment Trust Fund .................
734,165
Comptroller of the Currency Employees*
Retirement Fund ......................
705
235
Pershing Hall Memorial Fund ............
12
National Park Trust Fund (2) ............
Ainsworth Library Fund, Walter Reed
id'
General Hospital .....................
Alaska Railroad Retirement and Dis
279
ability F u n d ...................... ,..
Totals ..................
311
42,067
442
2,161
11
43
**
.T .
-
-
«■*
-
$268,983
50,173
63,705
51,738
4,786
1,378
1,638
18,430
1,100
6
10,000
31,595
13,876
11,082
7,351
13,677
■—
192,948
$ 87,587
Totals ................... $
$
10
-
$3,967,560
As of January 31, 1938:
Federal Farm Mortgage Corporation .......
Federal Land Banks ......................
Federal Intermediate Credit Banks ......
Banks for Cooperatives..... ............
Production Credit Corporations ..........
Production Credit Associations ..........
Joint Stock Land Banks .................
Federal Home Loan B a n k s .............. ..
Home Owners * Loan Corporation.... .
Note:
$268,878
m
95
-
$45,035
761,130
1,190
6,525
26,682
74,518
242
—
.
$ 870,287
All trust funds may "be invested in Government and Governmentguaranteed securities, and certain .funds may also "be invested
in additional securities as indicated:
(1) In Federal Farm Loan Bonds;
(2) Ho limitations.
■oOo—
TREASURY DEPARTMENT
FOR RELEASE MORNING NEWSPAPERS
THURSDAY,
APRIL
lU#
1933
PRESS SERVICE
No. 12 - 9$
Washington
In addition to the information \7ith respect to all active hanks in the United States and possessions for June
30, 1937* which is published in the Comptroller's annual report for 1937» under the provisions of Section 333» 0. S*
Revised Statutes, the Comptroller has obtained summaries of the assets and liabilities of all active banks, by
classes, as of December 31* 1937* which are shown below:
Statement of assets and liabilities of all banks December 31* 1937
(Amounts in thousands of dollars.)
All banks
i
Banks other than national
Total all
National
Mutual
other than I
State
Private
banks
banks
national, j (commercial)*
savings
Number of b a n k s ... ...... .........
1 5 1*63_________ 5 264 ________ 1 0 197_________ 9 5 5 7
363
77
ASSETS
Loans on real estate...
$ ß 6 7 7 U 5 I*
Other loans, including rediscounts.. 13 6 7 5 192
Overdrafts
1 1 1*91+
U* S. Government securities:
Direct obligations
ih 2 8 6 1 1 U
Obligations fully guaranteed
2 3 7 3 95^
State, county, and municipal
7
obligations ...
J 1*1*6 0 6 H
Other bonds and securities.
6 38 2 920
Banking house , furniture and
fixtures
1 330 373
Real estate owned other than
banking house
1 235 395
Cash in vault
907 8 71
Balances with other banks, including reserve with reserve agents*- 15 0 6 5 9 6 2
Other assets....-.....
726 191
Total assets....... .... .... ...
LIABILITIES
Deposits of individuals, partner
ships, and corporations:
Demand.... .............. ... ....
T i m e ... ... -......................
$ 1 56 1 862
7 2 U 7 58 6
592
6 1*27 606
$ 2 2 0 3 308
6 2 l*S 2 O 3
099
7 395
6 766
6 763 3 9 5
1 30 8 987
7 522 219
1 -061 * 9 6 7
5 0 1 3 2 l*l
81? 9 2 O
1 390 6 5 6
2 299 use
k
2 0 5 5 1*08
0 8 3 l*5l*
1 228 5 0 3
2 119 IO 7
k
$ 7 115
$ 1* 9 0 9 5 1 2
85 7^2
—— ~
$ 2 772
93 6 6 1
2 2 3 I* 887
27 1* 0 9 1
2l*7 317
3 730
795 56 6
9 1 I* 08l*
31 339
50 2 6 3
1
629
6 3 2 2 UU
6 9 s I29
559 1*08
1 3 2 1*93
6 228
15 5 625
1*22 1*90
1 0 7 9 770
387 5 6 1
1*27 6 6 2
6 9 0 685
1 52U
1 282
8 128 0 0 3
20 9 282
6 937 959
5 1 6 9O9
6 3 2 8 1*61
9&
30 12** 193
37 99^ 789
2 5 721 738
11 6 5 0 oUU
23 200 138
2L 7 0 1 069
12 1 6 9 107
U
031 031
7 501 10 1
17
19 9 96s
10 6 5 6 SII
6 90s 560
10 255
68 118
1*85 381
385 598
56 ^37
1*88 3 2 6
1 2 1 I7 2
91* 9 9 5 _ 3 6 3 1 6 .
6U6
kj2
623 007
373
5jk
35 936
Page #2
Assets
of all "banks,
—
VM'r.-~ and liabilities
v V.. V .'-------------------------December 31, 1937 ~ Continued.___________ (in thousands of dollars)
Banks other than national
All banks
National
Total all
Mutual
State
other than
banks
banks
savings
(commercial )*
national
LIABILITIES - Continued
State, county and muncioal deposits.. $ 3 3*+7 83 *
U. S« Government and postal savings
deposits...... .....................
959 039
Deposits of other h a n k s ..............
6 091 129
Certified and cashiers* checks, cash
sio 69^
letter of credit, etc..............
59 109 903
T o tal deco si ts ... .............. ..
kj ^52
Bills payable.........................
2 266
.Rediscounts .
Agreements to repurchase securities
1 091
sold...............................
Acceptances executed by or for ac~
count of reporting b a n k s ..........
229 171
Interest, taxes, and other expenses
73 bgU
accrued and unpaid ................
Dividends declared but not payable and
amounts set aside for undeclared
dividends and for accrued interest
on capital notes and debentures...
„ *2 . 5*5
Other liabilities ....................
*&:o 12s
Capital notes and debentures.........
Preferred s t o c k .... ......... ..... ....
Common stock ..........................
Surplus...... .........................
Undivided profits,net ................
Reserves for contingencies
Retirement fund for preferred stock
and capital notes and debentures ...
Total capital account.
Total liabilities, including
capital account...............
173 7*6
U51 7U9
2 597 615
3 602 566
720 291
5U5 026
$2
3
fif* U K
98*
588 16 b
832 29s
429 394
,a6 5U0 69U
g 50g
1 32g
$
1 328 306
330 300
32 569 2 0 9 _
38 9W
933
U5 260
2 gU 831
1 293 000
1 100 308
399 969
I5U 235
3
11
855
2kk
198
.. 30 . 12 *. 195
1 325 5U2
IDS 411
28 224
20 093
15
Ik
U83
173 7*6
1 6 6 913
1 30U 615
2 502 258
330 322
390 791
Ӵ
10 096
92g jkF
57 9 *
(*) Includes loan and trust companies and stock savings "banks
330 337
21 823 392
33 095
933
008
272
789 _
.
* 1 959
——
1S1 219
95
lk2
805
$
370 873
2
95
1U1
28 163
27 1*03
167 6^5
$
370 873
2 25S 231
99b
21 951
g 172 944
019 523
Private
gH6
252 k$k
155 866
166 9IS
1 260 U26
1 klk 156
219 Ù21
2U1 589
10
038
" 3 4 6 s klk
25 721 73S__
76 819
193
kj
10 257
2
163
539
..
366
U08 65U
3 310
— —
——— .
—
-—
---.
32 597
8 118
13
296
17 09 ^
17
2 935
880
—
-—
—
kk
—
189
30
057
1 058 0U5
l60 5U9
128 302
............ 58 ....
352
20 900
—
1 36U 834
95 *98
11 650 oUb
625 007
iage #3
STATEMENT SHOWING COMPARISON OF ITEMS OF ASSETS AND LIABILITIES OF ALL
ACTIVE BANKS IN THE UNITED STATES AND POSSESSIONS AS OF DECEMBER
3 1 , 1 9 3 7 , JUNE 3 0 , 1 9 3 7 , DECEMBER 3 1 , 1936, AND JUNE 3 0 , 1933*
(In thousands of dollars.)
Dec- 31,
1937
15 463
Number of banks...
June 30,
1933
T/
l4 624
June 30#
1937
15 5S0
Dec. 3 1 *
19 36
1 5 704
$ 8 6 0 1 412
14 084 314
1 2 450
$ 8 500 17 5
1 3 104 844
1 3 108
$ 9 627 53^
1 2 749 837
10 447
569
399
572
733
349
26 1
95s
17 497 059
7 795 999
ASSETS
Loans on real esOther loans, inc‘
Overdrafts......
U. S. Government securiti es:
$ 8 677 454
1 3 675 19 2
1 1 494
l4 286 Ilk
fSIgg
Cash In vault ...... ................
Balanceswith other banks, including reserve with reserve
agents....... ............ „............. ;.................
Other assets
Total assets.
6 382 920
l 330 373
l 23 5 395
907 8 7 1
l4
2
3
6
1
1
033)^53)
402)
2 5 1)
208
049
3 17
2 881
7 253
1 382
637
6 72
10 700 905
1 346 665
1 288 396
1 0 25 586
13 9
525
831
646
556
1 5 065 962
726 191
68 118 984
l4 670 297
729 881
6S 9Ul 069
1 5 3 7 1 668
772 881
70 121 289
7 092 229
1 198 16 s
5 1 3 0 1 90S
23 200 13 8
24 7 0 1 069
3 3^7 S34
959 039
6 0 9 1 12 9
810 694
23 698 64i
24 5 7 1 685
3 579 2 6 1
806 8 35
6 351 303
814 645
24
23
3
1
7
14
20
1
1
3
59 109 903
47 452
2 266
59 822 370
770
887
35s
124
079
934
6 1 15 5
LIABILITIES
Deposits of individuals, partnerships, and corporations:
Demand...... ............. ................. ... ... .........
T i m e ... «................................ ........ ... .....
State, county, and municipal deposits...................
U. S. Government and postal savings deposits............
Deposits of other ban k s. ... ...... ..... .... ........ ...
Certified and cashiers1 checks, cash letters of credit, etc«
Total deposi ts.... ................ ... ............v.
Bills payable... .1.....1..
......................... ..........._..
Rediscounts....... ".................................. ........
52 itn
2 567
038
355
907
463
55u
697
0l4
001
245
603
637
364
679
4i 533
55 U56 )_
56 6 )
jp ,,
mm
839
6 15
576
913
385
642
470
503 883
I
Page
Comparison of assets and liabilities of all active banks - Continued.
(in thousands of dollars)
Dec, 31,
1937
LIABILITIES - Continued
Agreements to recurchase securities sold......... $
Acceptances executed by or for account of
reporting banks..............................
Interest, taxes, and other expenses accrued and
uncaid.................... ...................
Dividends declared but not payable and amounts set
aside for undeclared dividends and for accrued
interest on capital notes and debentures......
Kational bank circulation...........
Other liabilities ........
Cacital notes and debentures..
..
...
Preferred stock.
Common stock
2
Surplus ........................................ . 3
Undivided profits, net
Reserves for contingencies ........
Retirement fund for preferred stock and capital
notes and debentures
Total capital account.................. : 8
1/
1 09I
Dec. 3 1
June 30»
1937
S69
$
19 36
$
1 2 I5
June 3 0 *
1933
$
26 79 9
2 7 6 780
270 399
*&5 1S7
7 3 UsU
7 0 959
72 157
7 6 300
kz 5 ^ 5
U5 2 5 5
33 6W
229 1 7 1
—
- —
UIjo 128
1 7 3 7^ 6
U 5 1 7 U9
597 6 1 5
602 56 6
780 2 9 1
5 U5 0 2 6
U33- U27
lgU 9 6 H
U7 2 1 9 5
2 5 9 3 U9 1
3 7 0 0 'Uaft
787 737
U7 5 2 6 8
21 951
1 7 2 9 *&
Total liabilities, including capital
account............................. 68 118 9SU
68 9 ^ 1 0 6 9
Licensed banks; i. e., those operating on an unrestricted basis
—
390 5 1 U
20 U 8 U 5
521 * 31*9 )_
2 5 6 3 820)
—
7 3 0 U3 5
600 5^6
-—
2 899 5 ^ 1
3 733 961
651 H0 6
UUg 9 7 2
3 371 3 2 1
6 ^ 6 2 U6
H 6 S ISO
22 292
14 971
s 2 3 6 U3 1
8 lU2 3 2 U
——
7 385 288
70 i a 289
51 301 908
IMPORTS OF COMMODITIES FROM THE PHILIPPINES UNDER QUOTA
■PROVISIONS OF PHILIPPINE INDEPENDENCE ACT AND CORDAGE ACT OF 1935
Preliminary Figures, as of April 2, 1938
Customs District
TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
Florida
Galveston
Georgia
Hawaii
Los Angeles
Maryland
Massachusetts
Minnesota
New Orleans
New York
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Louis
San Francisco
Virginia
Washington
Wisconsin
:
January 1 to April 2, 1938
•
: . REFINED : •UNREFINED
♦
SUGAR
:
:•COCONUT OIL :
SUGAR
:
(Pounds)
: (Pounds) :
(Pounds)
89,919,252
20.1$
20,400,473
18.2#
466,210,984
26.0#
m
p
-
2,239,363
661,000
19,386,052
14,610,500
45,051,949
3,563,060
•
-
8,222,408
-
3,785,360
•
-
-
3,734,980
-
672,348
**
8,392,705
•
13,413
209,155
13,445,197
41,443,106
-
82,524,979
133,363,273
•
177,198,779
-
18,013,082
•
«*•
: •May 1,1937 to
: Apr. 2, 1938
:
CORDAGE
:
(Pounds)
4,612,684
76.9f0
206,365
44,466
5,329
8,112
6,157
188,898
484,801
145,256
5,111
1,112,035
193,419
23,565
591,396
14,769
54,389
1,290,747
30,331
201,676
5,862
(Prepared by Division of Statistics and Research, Bureau of Customs)
The Commissioner of Customs today announced preliminary
figures for imports of commodities coming into the United States
from the Philippine Islands under the quota provisions of the
Philippine Independence Act, during the period January 1 to
April 2, 1938, and under the Cordage Act of 1935, during the
period May 1, 1937, to April 2, 1938, also the percentage
that such imports hear to the totals allowable under the quota
provisions, as follows:
OFFICE OF THE COMMISSIONER OF CUSTOMS
APR131938
TO iff. GASTQH
(Attention of Mr* Schwarz, Room 289, Treasury Building)
FROM THE ACTING COMMISSIONER OF CUSTOMS:
There is attached a tabulation for immediate release showing
preliminary figures for imports of commodities coming into the
United states from the Philippine Islands, under the quota pro
visions of the Philippine Independence Act and the Cordage Act of
1935, as of April 2, 1938*
When this tabulation has been mimeographed, please have 90
copies forwarded to Miss Henry, Room 415, Washington Building*
Sta
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE,
Wednesday, April 13, 1938.
Press Service
No. 12*»96
The Commissioner of Customs today announced preliminary figures for imports
of commodities coming into the United States from the Philippine Islands under
the quota provisions of the Philippine Independence Act, during the period
January 1 to April 2, 1938, and under the Cordage Act of 1935, during the period
May 1, 1937, to April 2, 1938, also the percentage that such imports hear to the
totals allowable under the quota provisions, as follows:
:
Customs District
TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
Florida
Galveston
Georgia
Hawai i
Los Angeles
Maryland
Massachusetts
Minnesota
New Orleans
New York
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Louis
San Francisco
Virginia
Washington
Wisconsin
J anuary 1 to April 2, 1938
: REFINED
: UNREFINED
: COCONUT OIL
:
SUGAR
:
SUGAR
:
(Pounds)
: (Pounds)
: (Pounds)
89«919,252
20 .1$
20,400,473
18.2$
: May 1, 1937 to
: Apr. 2, 1938
:
CORDAGE
:
(Pounds)
466,210,984
26.0$
—
m
—
»'
—
m
—
—
2,239,363
661,000
19,386,052
—
8,222,408
13,413
209,155
13,445,197
41,443,106
—
14,610,500
45,051,949
«
3,563,060
—
**
3,785,360
*
82,524,979
133,363,273
-
177,198,779
—
if#
.
—
—
3,734,980
.
—
-
672,348
—
8,392,705
•M
18,013,082
—
mm
~*-o0o~~
4,612,684
76.9$
206,365
44,466
5,329
8,112
6,157
188,898
484,801
-
145,256
5,111
1,112,035
193,419
23,565
591,396
14,769
54,389
1,290,747
30,331
201,676
5,862
•IMPORTATIOKS OF CATTLE, CREAM AND CERTIFIED SEED POTATOES
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Customs District
TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Maine & N. H.
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
January 1 to April 2, 1938
DAIRY COWS
; CATTLE 700#
CATTLE
700# OR MCRE : . CREAM
UNDER 175# 1 OR MCRE
: (Gal.)
(Head)
(Head)
: (Head)
Dec.1,1937 to!
April 2, 1 9 3 »
.WHITE OR l ì !
SEED P O T A T O »
(Pounds)
4,347
0.3$
25,651,4341
57.0fl
12,332
23.7$
26,437
17.0$
2,838
3,238
94
1,216
33
•
9
»
22
717
-
6,829
-
-
10
948
6,984
715
59
159
-
1,2621
6.3$
160,500
3
•
6
78
1
•
2
-'
-
-
I
-I
-I
21
-
~fl
2,497,4801
1,260,0301
1,953,2411
947,520 id
■37
•
-
.B
-*
17,599,9691
.fl
-
-
420,1501
-
1,179
112
28
40
157
908
1
4,208
-
-
-
-
410
1,531
106
-
40,1001
761,944 §
10,5001
Total from Canada 12,116
15,055
1,261
4,267
25,651,4341
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
FROM OTHER COUNTRIES
Puerto Rico
158
56
2
-
216
3,798
6,182
1,226
176
11,382
•»
m n
-
-
• I
-
-
-
•
-
• 1
-
-
-
80
1
1
1
_______________ -—
(Prepared by Division of Statistics and Research, Bureau of Customs)
- 1
The Commissioner of Customs today announced preliminary
figures for imports of cattle, cream and certified seed potatoes,
under the quota provisions of the Canadian Tirade Agreement, as
of April 2, 1938, and the percentage that such imports bear to
the totals allowable under the quota provisions, as follows:
OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta
MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Building)
FROM THE ACTING COMMISSIONER OF CUSTOMS:
There is inclosed a tabulation for immediate release showing
preliminary figures for imports of cattle, cream and seed potatoes,
under the quota provisions of the Canadian Trade Agreement, as of
April 2, 1938.
When the release has been mimeographed, please have 125
copies forwarded to Mr. Freeman, Room 415, Washington Building.
TREASÎ M - î i W Â M M m
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Thursday, April 14, 1928._____
4/13/38.
Press Service
No. 12-9?
The Commissioner of Customs today announced preliminary figures for imports
of cattle, cream and certified seed potatoes* under the quota provisions of the
Canadian Trade Agreement, as of April 2, 1938, and the percentage that such imports hear to the totals allowable under the quota provisions, as follows:
Customs District
January 1 to April 2,
CATTLE
: CATTLE 700#
OR MORE
UNDER 175# :
(Hoad)
(Head)
:
•
•
TOTAL IMPORTS
Per Cent of Quota
12,332
23.7$
26,43?
17.0$
2,838
—
3,238
94
1,216
33
10
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Maine & N.H.
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
1,179
112
410
12,116
948
6,984
715
59
159
28
40
1,531
15,055
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
158
56
2
216
3,798
6,182
1,226
176
11,382
FROM OTHER COUNTRIES
Puerto Rico
9
-
22
717
—
6,829
-
—
Dec.1,1937
1938 '
to Apr.2,19S8
: 'DAIRY COWS
.•WHITE OR
: 700# OR MOKE.1 CREAM :IRISH SEED
:
(Head)
: (Gal) : POTATOES
: (Pounds)
1,261
6.3$
3
—
6
78
—
1
4,34?
0.3$
—
—
21
»
-
37
M.
—
25,651,434
57.0$
160,500
—
—
2,497,480
1,260,030
1,953,241
947,520
_
2
—
—
■■#•
157
908
106
1,261
—
— .
—
—
—
—
'—
1
4,208
4,267
**•
17,599,969
—
420,150
—
40,100
761,944
10,500
25,651,434
—
—
..
—
—
—
—
80
r-
-IMPORTS OF DOUGLAS FIR AND WESTERN HEMLOCK UNDER THE QUOTA PROVISIONS
OF THE CANADIAN TRADE AGREEMENT
During the Period January 1 to April 2, 1938
(Preliminary Figures)
Customs District
TOTAL IMPORTS
Per Cent of Quota
: Saved Timber and Lumber
: DOUGLAS
: WESTERN
FIR
: HEMLOCK
: (Bd.Ffc.)
: (Bd.Ft.)
Not Specially
: MIXED FIR
: & HEMLOCK
: (Bd. Ft.)
Provided For:
: TOTAL FIR
: & HEMLOCK
: (Bd. Ft.)
31,433,207
6,866,435
6,941,181
45,240,823
________________________________________________ 18,1$
FROM CANADA
Alaska
Buffalo
Connecticut
Dakota
Duluth & Superior
Los Angeles
Maine & N. H.
Massachusetts
Michigan
New York
Philadelphia
St. Lawrence
Vermont
Washington
303,650
575,914
3,320,736
6,341,301
3,367,745
8,434,853
14,551
3,068,028
16,866
2,990,654
150
141,615
2,857,144
320,658
38,059
502,438
1,746,574
346,949
3,191,630
60,185
615,398
44,544
58,525
•
6,882,656
•
303,650
896,572
3,358,795
6,843,739
5,114,319
8,840,327
14,551
6,259,658
77,051
6,882,656
3,606,052
150
141,615
2,901,688
(Prepared by Division of Statistics and Research, Bureau of Customs)
Ohe Commissioner of Customs today announced preliminary
figures for imports of Douglas fir and Western hemlock, under
the quota provisions of the Canadian Trade Agreement, during the
period January 1 to April 2, 1938, and the percentage that such
imports bear to the total allowable under the quota, as follows:
O FF IC E OF THE COMMISSIONER OF CUSTOMS
Sta
APR 15 1938
MR GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Building)
FROM THE ACTING COMMISSIONER OF C U S T O M :
There is inclosed for immediate release a tabulation showing
imports of Douglas fir and Western hemlock, under the quota pro
visions of the Canadian Trade Agreement, during the period
January 1 to April 2, 1938.
When the release has been mimeographed, please have 125
copies forwarded to Mr. Freeman, Room 415, Washington Building.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, April 15, 1938*
Press Service
No. 12-98
The Commissioner of Customs today announced preliminary figures for
imports of Douglas fir and Western hemlock, under the quota provisions of
the Canadian Trade Agreement, during the period January 1 to April 2, 1938,
and the percentage that such imports hear to the total allowable "under the
quota, as follows:
Customs District
TOTAL IMPORTS
Per Cent of Quota
: Sawed Timber and Lumber Not Specially Provided For:
TOTAL FIR
î MIXED FIR
: DOUGLAS
: WESTERN
& HEMLOCK
ï
FIR
ï HEMLOCK
î & HEMLOCK
(Bd.Ft.)
: (Bd.Ft.)
: (Bd.Ft.)
: (Bd.Ft.)
45,240,823
6,941,181
6,866,435
31,433,207
________________ _______________ _____ _________ 18*1$
FROM CANADA
Alaska
Buffalo
Connecticut
Dakota
Duluth & Superior
Los Angeles
Maine & N. H.
Massachusetts
Michigan
New York
Philadelphia
St. Lawrence
Vermont
Washirg ton
303,650
575,914
3,320,736
6,341,301
3,367,745
8,434,853
14,551
3,068,028
16,866
«
2,990,654
150
141,615
2,857,144
«
320,658
38,059
502,438
1,746,574
346,949
58,525
«
3,191,630
60,185
m
615,398
—
44,544
— oOo—
-
6,882,656
-
303,650
896,572
3,358,795
6,843,739
5,114,319
8,840,327
14,551
6,259,658
77,051
6,882,656
3,606,052
150
141,615
2,901,688
TREASUR Y DEPARTM ENT
OFFICE OF THE SECRETARY
C O M M I S S IO N E R
WASHINGTON
OF
A C C O U N T S A N D D E P O S IT S
April 7, 1938«
TO MR, GASTON:
During the month of March» 1938» the fol
lowing market transactions took place in Government
securities:
Total purchases •••••••• $ 23,432,000
Total sales «•••••••••••
Net purchases
83,500
$ 23,348,500
I
1
TREASURY DEPARTMENT
Washington
Press Servico
No. 12-74
FOR IMMEDIATE RELEASE,
Tuesday., March 15, 1938.
Market transactions in Government securities for Treasury investment
accounts in Fohnu'oay") 1938, resulted in n o t o f
Morgenthau announced today.
•oOo—
$0,001/ WO, Secretary
TREASURY DEPARTMENT
W a s h in g to n
P ress
N o.
POR IMMEDIATE R ID E A S E , '
P r i d a y , A p r i l 15 » 19 3 8 *
M arket t r a n s a c t io n s
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