Full text of Press Releases of the United States Department of the Treasury : Volume 28

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pnoM

5030

JUN 14 1972
treasury

d epar tm en t

TRSàSôBT BIPàimSEST
« éls eibo tow

Press Servie#
K H OTJ5ASS» MtHFTISÖ IHTOPAPISS,
Tuesday.
6 /I 9 / 3 9

r"ne>> g Q i

19g9*

D

---

'^

Tbe Seeretaïy of tte ïreaeary «naoaawd laat * ™ lB« * • * th# *“ 4 *”
for #100,000,000, or thereabouts, of « - 4 « T Troasury bills, to bo date
il and to ¡sature September BO. 1 ® 9 , -blob

offer* on Jta. M , - « •

opened at tie federal Resorte banka on Jone 1».

Iba detalla of thin iaaoa are ae foilowe:
$£81,705,000
100,958,000

»fötal applied fo i
Total accepted

Range of accepted bides
E
Jf

I

Arerage priee -

»:«.

-t. approximately 0.00* pereent

99.999/

<70 pareant of tb. enonnt bid for at tbe lo. priee « » aeeeptrt)

TREASURY DEPARTMENT
Washington

Press Service
No. 10-0 ;

FOR RELEASE, MORNING NEWSPAPERS,
Tuesday* June 20, 1939._____ __

6/19 /39."
"The Secretary of the Treasury announced last evening that the tenders
for $0.00,000y000, or thereabouts, of 91-day Treasury bills, to be dated Jane 21
and to mature September 20, 1939, which were offered on June 16, were opened at
the Federal Reserve banks on June 19*
The details of this issue are as follows?
Total,applied for
Total accepted

-

Range of accepted bids
High
Low
Average price

$201,705,000
100,930,000
1

100.
.
,
,
09*999 Equivalent rate approximately 0*004 percent
00 OOO /
t>
l
I!
11
_ q9.999/
<
J
"
0.003
"

(7o percent of the amount bid for at the low price was accepted)

— 0 O 00 —

TREASURY DEPARTMENT
U. S. Public Health Service
Washington
■A /

I«

■Q

problem of scarcity of trained personnel to carry on

the rapidly expanding syphilis control program may be solved b y four-weeklong "refresher” courses, it was reported in the June issue of Venereal
Disease Information published by the Public Health Service today.
"The short course is designed for and, we believe, offers much to the
health officer and physician whose duties involve many activities in addi­
tion to syphilis control work," the article state/.

("A Four-Week Post­

graduate Course in Syphilis Control" by R. H. Kampmeier, M.D., and E. Gurney
Clark, M.D., Department of Medicine, Vanderbilt University School of Medicine.)
The chief objective of the course is to provide students with an oppor­
tunity for intensive study of diagnostic and therapeutic problems in clinical
syphilis and an introduction to the epidemiologic features of syphilis con­
trol.

Training is also given in public education methods.
"When the establishment of a course of only four weeks* duration was

first considered," the authors pointed out, "it was the opinion of some that
the period of instruction would prove to be too short.

Our experience with

the four-week** course during the past 18 months has allayed previous mis­
givings.
time."

We are convinced that much can be accomplished in this period of

TREASURY DEPARTMENT
U» S. Public Health Service
Washington

Press Service
No» 18-1

FOR RELEASE, AFTERNOON NEWSPAPERS
Wednesday, June 21, 1959________„

The problem of scarcity of trained personnel to carry on the rapidly
expanding syphilis control program may be solved by four-week-long "refresher"
courses, it was reported in the June issue of Venereal Disease Information
published by the Public Health Service today.
"The short course is designed for and, we believe, offers much to the
health officer and physician whose duties involve many activities in addi­
tion to syphilis control work," the article stated.

("A Four-Week Post­

graduate Course in Syphilis Control" by R. H. Kampmeier, M.D., and E. Gurney
Clark, M.D., Department of Medicine, Vanderbilt University School of Medicine.
The chief objective of the course is to provide students with an oppor­
tunity for intensive study of diagnostic and therapeutic problems in clinical
syphilis and an introduction to the epidemiologic features of syphilis con­
trol»

Training is also given in public education methods»
"When the establishment of a course of only four weeks» duration m s

first considered," the authors pointed out, "it m s

the opinion of some that

the period of instruction would prove to be too short»

Our experience with

the four-weeks» course during the past 18 months has allayed previous mis­
givings»

We are convinced that much can be accomplished in this period of

time»"

-oOo-

May 31, 1939.

Captain William J. Wheeler,
United States Coast Guard,
(Via Commandant, United States Coast Guard)
Dear Sirs
Mr. Elmer L. Irey, Coordinator of Treasury Law
Enforcement Agencies, and his predecessor, Mr. Harold
N. Graves, have called my attention to the record of
accomplishments in law enforcement since you were
selected as Treasury Law Enforcement Coordinator for
the New Orleans Division, United States Coast Guard.
The record is an imposing one and denotes a high
degreflt(| of devotion as well as tenacity of purpose
calculated to inspire the respect and ever«*»willing co­
operation of those whose efforts you were selected to
coordinate.
Upon the occasion of your retirement from active
service, it is my pleasure to congratulate you on the
splendid record you h^ve made, and to thank you for your
substantial contribution toward the success of the co­
ordination system.
Very truly yours,

(Signed)

H. Morgenthau, Jr.

Secretary of the Treasury.

C O P Y

June 6, 1939

My dear Captain WheelerJ
On July 1, 1939, you will pass to the retired
list of the Coast Guard, with the rank of rear
admiral,, after a service career of more than fortythree years. Your long service has "been marked "by
a faithful and honorable performance of duty.
I
take great pleasure, therefore, in extending
to you my hearty congratulations upon a career of
efficient service to the Coast Guard and the Nation
which I know must afford you a deep sense of pride
and satisfaction. As you enter upon your retired
status, a cessation from active duty richly deserve^
X want you to be assured of my best wishes for your
future welfare and happiness.
Sincerely yours,

(Signed)

H. Morgenthau, Jr.

Secretary of the Treasury.

Captain William J. Wheeler,
Commander, New Orleans Division,
U. S, Coast Guard,
Custom House, Mobile, Alabama.

During the World W ar Captain Wheeler served as commander of the combatant
vessel SENECA in foreign waters.

Altogether he spent 15 months on convoy duty,

during which time the SENECA escorted more than 400 merchant vessels.

Eleven

men from the SENECA were lost in an attempt to salvage a British merchant
v
ft
%1
vessel .^TCaptain Whe^IST Was\wkTd"ed
and was cited*

“by the British admiralty.

His deeds of valor are recorded in the official history of the British navy.
Between 1919 and 1920 he was stationed at Norfolk, Virginia, where he
established a service record for assistance for a single winter and from 1921
to 1924 he served on the

International Ice Patrol.

He was stationed in Washing­

ton as assistant inspector between 1924 and 1932, and later became chief inspec­
tor.
From 1932 to 1934 he was in the Norfolk Division and thence transferred on
June 12, 1934, to Mobile, as area commander, and
the New Orleans Division.

division commander of
presented 4ii*^^Tramed resolu­

tion expressing appreciation of his service^whei'
i thu.lluiu

ui him Uu Du

bwiaafbPreaTM M ubil l i
Division commander at Mobile, Captain Wheeler has been in charge of all
Coast foelard activities ftfom Western Florida to the Rio Grande. As co-ordinator
-6i4
t
r
y
t
&
t
&j
e ha.s also supervised activi­
of Treasury d«aaist8agSP^»a.gencies in this
ty
m
t---****-- "7
ties of the’XSSSfc CTistomSjr Boraer
^wwNp^rf^ervice, \Narcotic siBureaurand
Alcohol Tax Unit.
Captain R. L. Jack of the San Francisco division of the Coast Guard will

r"r^

.iam J. Wheeler, commander of the New Orleans Division of the
;oai

retire© on July l a j

*s of active

Captain Wheeler was horn in Wythe County, Virginia, on June 12, 1875.
After he received a bachelor of science degree at the Virginia Polytechnic
Institute, he entered the Coast Guard Academy on May 26#t1896, as a cadet.
At the turn of the century^ aboard the cutter MAITHIUG he rounded
stopped off at San Francis-co,

' ¿ & i .he

transported prospectors to Alaska

^
'
set out to accompany
vessels which

during the gold rush.iQ.In describing his

experiences t h e r e W h e e T e r - - « y u S H * Most every type of craft that would
float, including inland water paddle boats, made the passage of 1800 miles througj
the north Pacific ocean to Unalaska.

Prospectors and other adventurers headed

to the gold fields.
fireat confusion ensuecUuJto
C+ma
a loaf and eggs for 50 cents apiece.

*»— *3 read in Home sold then for one dollar
During the(24 Jiours a day daylight, men

contirjally blocked the streds^ appearing not to sleep at all during that summer. |
Robberies and murders were not infrequent.”
His exploits there were among those incorporated in "The Spoilers” the
Rex Beach novel describing that era.

The winter of 1900-1901 saw him on a tri­

butary of the Yukon where his boat the HUHIVAK^ served as a refuge station; there
near the Arctic Circle, the sun was rarely observed and the temperature stayed
around 70 degrees below zero.
<©ta*QJba^ir^iar

Mail arrived months late.

officer was aboard the cutter WI1TD0M when the greet Balti-

I
I

more fire took place and actively engaged in controlling the conflagration.
From 1905 to 1906 he taught navigation at the Coast Guard Academy.

From 1909

to 1912 he was executive officer of the cutter BFAR and,as such, served as United I
States Marshal in Alaska.

Later he was lifesaving stations* inspector on the
I

Long Island coast and director of the St. Mary's River'Patrol on Lake Superior.

■

F o r F r i d a y p m fs

C a p t a i n W i l l i a m J. W h e e l e r ,
t he

commander

N e w O r l e a n s D i v i s i o n of the U n i t e d

States

Coast Guard, w i l l

of r e a r a d m i r a l
headquarters

after

retire

on J u l y 1 w i t h t he

forty-three years

of the S e r v i c e a n n o u n c e d

of a c t i v e

rank
d uty,

today*

I n a l e t t e r to the v e t e r a n o f f i c e r „
Secretary Morgenthau congratulated h i m "upon a career
of e f f i c i e n t
which

dr

service

t o the C Q a s t G u a r d and

I k n o w must a f f o r d you a deep

satisfaction."
retired

s ense

The S e c r e t a r y s a i d the

status w o u l d be

the

Nation

of pride

and

a s s u m p t i o n of

"a c e s s a t i o n f r o m a c t i v e

duty

TREASURY DEPARTMENT

Washington

POE R E LE A SE , AFTERNOON NEWSPAPERS

Friday, June 25, 1939»

P ress

_______

iW Y 10 ®

°*

Captain William J* Wheeler, commander of the New Orleans Division of
the United States Coast Guard, will retire on July 1 with the rank of rear
admiral after forty-three years of active duty, headquarters of the Service
announced today*
In a letter

to the veteran officer, Secretary Morgenthau congratulated

him "upon a career of efficient service to the Coast Guard and the Nation
which I know must afford you a deep sense of pride and satisfaction*”
Secretary said the assumption of retired status would he

The

’a cessation from

active duty richly deserved*”
Captain Wheeler was b o m in Wythe County, Virginia, on June 12, 1875.
After he received a bachelor of science degree at the Virginia Polytechnic
Institute, he entered the Coast Guard Academy on May 26, 1896, as a cadet*
At the turn of the century aboard the cutter MANNING, he rounded South
America and stopped off at San Francisco, where he set out to accompany vessels
which transported prospectors to Alaska during the gold rush*
Tn describing his experiences there, Captain Yiheeler wrote to Headquarters
recently, ’’Most every type of craft that would float, including inland water
paddle boats, made the passage of 1,800 miles through the north Pacific ocean
to Unalaska*

Prospectors and other adventurers headed to the gold fields*

Great confusion ensued*
eggs for 50 cents apiece*

Bread in Nome sold then for one dollar a loaf and
During the twenty-four hours a day daylight, men

continually blocked the streets, appearing not to sleep at all during that
summer#

Robberies and murders were not infrequent#”

His exploits there were among those incorporated in ’’The Spoilers,” the
Rex Beach novel describing that era*

The winter of 1900-1901 saw him on a

tributary of the Yukon where his boat, the NTJNIVAK, served as a refuge station;

-

2

-

there near the Arctic Circle, the sun was rarely observed and the temperature
stayed around 70 degrees below zero»- Mail arrived months late.
Back in the United States, the Coast Guard officer was aboard the cutter
WBiDCM when the great Baltimore fire took place and actively engaged in con
trolling the conflagration.
Coast Guard Academy.
BEAU and,

From 1905 to 1906 he taught navigation at the

From 1909 to 1912 he was executive officer of the cutter

as such, served as United States Marshal in Alaska.

later ho was

lifesaving stations* inspector on the Long Island coast and director of the
St. Mary*s River Patrol on Lake Superior.
During the World War Captain Wheeler served as commander of the combatant
vessel SENECA in foreign waters.

Altogether ho spent 15 months on convoy duty,

during which time the SENECA escorted moro than 400 merchant vessels.

Eleven

men from the SENECA, were lost in an attempt to salvage a British morchant
vessel*

For outstanding bravery during the war, Captain Wheeler was awarded

the United States Navy Cross and was cited by the Britisn admiralty.

His

deeds of valor are recorded in the official history of the British navy.
Botwoon 1919 and 1920 ho wus stationed at Norfolk, Virginia, idioro ho
established a service record for assistance for a single winter and from 1921
to 1924 ho served on the International Ice Patrol.

He was stationed in Washing-

ton as assistant inspector between 1924 and 1932, and later became chief inopcc—
tor.
From 1932 to 1934 ho was in the Norfolk Division and thence transferred
on June 12, 1934, to Mobile, as area commander, and later division commander of
the Now Orleans Division... When he loft Norfolk, the City Council presented to
him a fTcauod resolution expressing appreciation of his service.
Division commander at Mobile, Captain Wheeler has been in charge oi all
Coast Guard activities from Western Florida to the Rio Grande.

As coordinator

- 3 -

of Treasury enforcement agencies in this district, he has also_supervised
activities of the Customs Agonoy Sorvicc and its Border Patrol, tho Secret
Service, Bureau of Narcotics, and Alcohol Tax Unit.
Captain K. L. Jack of tho San Francisco Division of tho Coast Ouard will
succood Captain Iheolor in tho Now Orleans Division.

-0O0-

sole resource to ameliorate suffering, to reduce disability and promote
recovery,
"Fourth, through the proposal of temporary disability insurance,
indirect health protection would be extended to the worker and his family
by compensation for wages lost through non-industrial sickness and acci­
dent causing temporary incapacity.
"Finally, and most important, greater federal effort is proposed
for research, that we may learn how to prevent and cure diseases not
now controllable.
"...It is proposed that the Federal government give grants-in-aid
for health and medical care, to vary with the needs; the poorer states
and the most needy communities receiving a larger proportion."

"Its first objective is to reduce drastically the volume
of sickness and ill health by making available to all areas and all
groups of the population needing service, the proven methods of pre­
vention —

prevention of deaths of mothers and babies; a nation-wide

attack on tuberculosis and the venereal diseases; promotion of industrial
hygiene, with greatly intensified efforts toward control of the occupation­
al diseases; the use of proven methods to lessen the burden of mental
illness; and the practical eradication of malaria which lays such a heavy
burden upon large areas of the South.
should go, completely.

Pellagra and hookworm disease

Pneumonia should be curbed with serum and simple

chemicals.
"....As a second objective, the National Health Program there­
fore provides aid for the construction and maintenance of hospitals,
though only where needed, and for the support of existing hospitals,
public and private alike, especially in the distressed and rural areas.
Aid also would be given to construct diagnostic and health centers in
sparsely settled areas remote from any hospitals, to provide for rural
doctors the resources of modern medicine, the workshops they need, which,
in addition, would serve as centers for rural public health work.
«The third objective is to reduce disability and lengthen life by
more prompt and adequate medical care of the sick.

Adequate medical

treatment of communicable diseases is essential both as a safeguard to
the patient, and as a means of preventing spread.

Bit a large volume

of disability results from diseases which are not specifically preventable;
in illness due to these causes, competent medical treatment constitutes our

TREASURY DEPARTMENT
U. S. PUBLIC HEALTH SERVICE
Washington

FOR RELEASE
A. M> papers. Wednesday, June 21
"There are more determining reasons for Federal assistance to
the States in public health than in any other field of social endeavor,"
Dr. Thomas Parran* Surgeon General of the

Public Health Service

declared in addressing the 66th annual meeting of the National Conference

Y

of Social Work¿K Buffalo, New York, last night.
"Disease germs, like forest fires, know no State lines'^ the Surgeon
G e n e r a l stated in his speech which urged adoption of the proposed Federal
Health Program which was presented at the National Health Conference held
in Washington last summer.
fihlfif of.,the Eed eBial Pwblie

stoutly denied that

the health and medical services of the country would be federalized under
the proposed program for expanded health facilities and services.
National Health Program does not recommend a national system

"The

of compulsory

health insurance nor does it require nor coerce the States to do so.

The

decision as to whether or not health insurance should be adopted in any

A
State is left to the State itself", Dr. Parran a d d e d tnia address on

I

"The Right to Health and How to Win Ity Surgeon General Parran hailed the
•
'
'
National Health Program "as the most comprehensive approach ever made toward I
solving of diverse and serious problems retarding our nation*s health,

it

I

is the logical outgrowth^the first steps toward national health made possibl I
by the Social Security Act, the National Cancer Institute Act, and the
Venereal Disease Control Act?"/>

I

TREASURY DEPARTMENT
U. S. Public Health Service
Washington

FOR RELEASE, MORNING NEWSPAPERS
Wednesday, June 21, 1939_______

P^eSS_ ^ V1Ce
°*

"There are more determining reasons for Federal assistance to the States
in public health than in any other field of social endeavor," Dr. Thomas
Parran, Surgeon General of the United States Public Health Service declared
in addressing the 66th annual meeting of the National Conference of Social
Work, at Buffalo, New York, last night.
"Disease germs, like forest fires, know no State lines," the Surgeon
General stated in his speech which urged adoption of the proposed Federal
Health Program which was presented at the National Health Conference held
in Washington last summer.
Dr. Parran stoutly denied that the health and medical services of the
country would be federalized under the proposed program for expanded health
facilities and services.

"The National Health Program does not recommend a

national system of compulsory health insurance nor does it require nor coerce
the States to do so.

The decision as to whether or not health insurance should

be adopted in any State is left to the State itself," Dr. Parran added.
In his address on "The Right to Health and H o w t o Win It," Surgeon General
Parran hailed the National Health Program "as the most comprehensive approach
ever made toward solving of diverse and serious problems retarding our nation's
health.

It is the logical outgrowth of the first steps toward national health

made possible by the Social Security Act, the National Cancer Institute Act, and
the "Venereal Disease Conurol Act,

ho continued.

"Its first objective is to reduce drastically the volume of sickness and
ill health by making available to all areas and all groups of the population
needing service, the proven methods of prevention — - prevention of deaths of

- 2 -

mothers and babies; a nation-viido attack on tuberculosis and the venereal
diseases; promotion of industrial hygiene, with greatly intensified efforts
toward control of the occupational diseases; the use of proven methods to
lessen the burden of mental illness; and the practical eradiation of malaria
which lays such a heavy burden upon large areas of the South,
hookworm disease should go, completely.

Pellagra and

Pneumonia should be curbed with serum

and simple chemicals*
£j•••••As a second objective, the National Health Program therefore pro­
vides aid for the construction and maintenance of hospitals, though only where
needed, and for the support of existing hospitals, public and private alike,
especially in the distressed and rural areas*

Aid also would bo given to

construct diagnostic and health centers in sparsely settled areas remote from
any hospitals, to provide for rural doctors tho resources of modern medicine,
the workshops they need, which, in addition, would servo as centers for rural
public health work*
”Tho third objective is to reduce disability and lengthen life by more
prompt and adequate nodical caro of tho sick#

Adequate nodical treatment of

communicable diseases is essential both as a safeguard to tho patient, and as
a means of preventing spread*

But a largo volume of disability results from

diseases which are not specifically preventable; in illness duo to these causes,
competent medical treatment constitutes our solo rosourco to ameliorate suffer­
ing, to roduco disability and promote recovery*
"Fourth, through the proposal of temporary disability insurance, indirect
health protection would be extended to tho worker and his family by compensation
for wagos lost through non-industrial sickness and accident causing temporary
incapacity*
"Finally, and most important, greater federal effort is proposed for re­
search, that wo may learn how to prevent and euro diseases not now controllable*

- 3 -

"....It is proposed
health and medical care,

that the Federal government give grant s-in~aid for
to -mry m t h the needs; the poorer states and the

most needy communities r jeeiving a larger proportion.”

- 0 O 0-

>

,~u

-

2

-

Laboratory in Cambridge, Massachusetts, and the staff members who are
now located at the old Institute of Health, 25th and E Street in Washington,
D. C., will be transferred to the new quarters in Bethesda.
The work of the enlarged institute will be administered by
Dr. L. R. Thompson, Director of the National Institute of Health^ Dr.
Carl Voegtlin, Chief of the Cancer Institute* Dr. R. R. Spencer, Executive
Assistant, and Dr. Ludvig Hektoen, Executive Director of the National
Advisory Cancer Council.
The dedication exercises Saturday will be witnessed by mem­
bers of the National Advisory Cancer Council^ who will hold their quarterly
business meeting prior to the dedication.
In addition to Surgeon General Parran and Dr. Hektoen, the
Advisory Council consists of President James B. Conant of Harvard Uni­
versity, Dr. Arthur H. Compton, University of Chicago professor and Nobel
prize winner in physicsJ Dr. Mont R. Reid, Surgeon at the Cincinnati General
Hospital and Professor of Surgery at the University of Cincinnati^ Dr*
Clarence C. Little, Managing Director of the American Society for the
Control of Cancers and Director of the Jackson Memorial Laboratory at
Bar Harbor, Maine, and Dr. James B* Murphy, Rockefeller Institute for
Medical Research .

TREASURY DEPARTMENT
Ü. S. PUBLIC HEALTH SERVICE
Washington

Honorable Homer T. Bone
Washington and co-author ■J^watheHS^ional Cancer ^nstituB^*s<kUL of 193'
ill he the principal speaker at the dedication of the new Cancer I&

Senator Bone*s bill, which authorized annual appropriations of
$700,000 for cancer research and investigations,
of vgigy fuw—fejJwlBaM''Whdi^h-hewre passed IriHHMVNifee
by unanimous vote.

The Act also authorized the erection of the $750,000

building which will be dedicated next Saturday.
Dr. Thomas Parran, Surgeon General of t h e ^ U ^ S ^ M k U M M M i

&mmme

and Chairman of the National Advisory Cancer Council, will assist
•vfor-tA
\ j 3 u ^ dsJ^Senator Bone in the Comer-stone laylhg^SSa^p'eak briefly on behalf of

K
the Public Health Service.
The new Cancer Institute building is located at the National
Institute of Health Center on the Rockville Pike near Bethesda.

The fif-

teen-acre site was donated by Mr. and Mrs. Luke I. Wilson and adjoins the
officers* living quarters and other buildings of the Institute of Health.
The new Cancer Research Center will provide facilities for eightMBCientists, research technicians, and administrative officers.

j\

The building

consists of three floors and two basements and will be fully equipped with
up-to-date laboratory apparatus and research materials.
It is expected that the building will be completed in September
and at that time the scientists now stationed at Gibbs Memorial

For

T h u r s d a y p m fs

S e n a t o r H o m e r T. B o n e
c o a u t h o r of the N a t i o n a l
w i l l be the p r i n c i p a l

C a n c e r I n s t i t u t e 4,ct of 1 9 3 7 ,

s p e a k e r a t the d e d i c a t i o n of the

n e w I nstitute b u i l d i n g at

Bethesda,

o ’c l o c k S a t u r d a y a f t e r n o o n *
Health Service

of W a s h i n g t o n *

announced

¡Maryland,

the U n i t e d S t a t e s

today.

at 4:30
Pu b l i c

TREASURY DEPARTMENT
U, S. Public Health Service
Washington

FOR RELEASE, AFTERNOON NEWSPAPERS
THORSDAY, JÜNE 23, 1959.

Y

»

Pr®?® ® ? 7 10e
Ho*

Senator Homer T. Bone of Washington, co-author of the National Canoer
f !

Institute Act of 1937, m i l be the principal speaker at the dedication of the
new Institute building at Bathes da, Maryland, at \4:30 ¿-»clock Saturday afternoon,
the United States Public Health Service announced today*
Senator Bone»s bill, which authorized annual appropriations, of 1700,000
for cancer research and investigations, was passed by unanimous vete*

The Act

also authorized the erection of the $750,000 building which will be dedicated
\
nexp Saturday*
«X)r# Thomas Parran, Surgeon General of the United States-and Chairman of
V
'
the Rational Advisory Cancer Council, will assist Senator Bone in the combined
\
corner-^t^ne laying and dedication and speak briefly on behalf of the Public
\
Health Service*

\

t

The ,new Cancer Institute building is located at the National Institute
of Health Center on the Rockville Pike near Bethesda*

The fifteen-acre site

was donated by Mr* and Mrs* Luke I# Wilson and adjoins the officers* living
quarters end other buildings of the Institute of Health*

The new Cancer Research

Center will provide facilities for eighty scientists, research technicians, and
administrât!ire officers*

The building consists of three floors and two basements

and will be fully equipped with up-to-date laboratory apparatus and research
materials*
It is expected that the building will be completed in September and at
that time the scientists n o w stationed at Gibbs Memorial Laboratory in Cambridge,
Massachusetts, and. the staff members who are now located at the old Institute
of Health, 25th and E Street in Washington, D* C*, will, be transferred to the
new quarters in Bethesda*

The work of the enlarged institute will be administered by Dr* L* R*
Thompson, Director of the National Institute of Health; Dr* Carl Voegtlin,

im
Chief of the Cancer Institute; Dr*. R* R. Spencer, Executive Assistant, and
Dr* Ludvig Hektoen, Executive Director of the National Advisory Cancer Council*

\
The dedication exercises Saturday will be witnessed by members of the
National Advisory Cancer Council, who will hold their quarterly business meeting
prior to the dedication*
In addition to Surgeon General Parran and Dr. Hektoen, the Advisory Council
consists of President James B* Conant of Harvard University, Dr. Arthur H.
Compton, University of Chicago professor and Nobel prize winner in physics;
Dr* Mont R* Reid, Surgeon at the Cincinnati General Hospital and Professor of
Surgery at the University of Cincinnati; Dr* Clarence C* Little, Managing
Director of the American Society for the Control of Cancer and Director of the
Jackson Memorial Laboratory at Bar Harbor, Maine, and Dr* James B. Murphy,
Rockefeller Institute for Medical Research*

~o0o~

for

Sunday am*«

s

In recognition of ito progreso of Dr* Lyndon F* Sterni! find Br« i&thaa
B« Bdáy of the united States Public Health S***!*» in their quest for a
substitute for merline, Commissioner cf Barootios H* J« Anslinger will
present to the® Tuesday the 1938

moré

cf the American Jhanaaceutloal

Ltanuf&oturors Association for the year *s meet outstanding ohenioal re»
search*
The presentai cm will be made during sessions of the association's
■annual meeting at Skytep, Pat

CsœBttssioner Ans linger nil! represent the

Committee on Drug Addiction of the national Researoh Council* coordinating
agency fear the research of which the Rihlio Health Service chemists' studies
are a part«

Small an! Eddy have been conducting experiments on the chemistry
►

e»d pharmacology in the morphine series, synthesising substances with narcotic
action and making clinical studies of drug addiction«

i

Dr# Small is a consultant at large for the Public Health Service's
Division of Mental i g i e n e for field studies and investigation of narcotic
drug addiction, end has been conducting his work in chemistry at the
Dai varsity of Virginia*

Dr* Eddy is a consultant biologist in alkaloids,

vàio has mads investigations in chaaac-thcrapy and pharmacology at the
University of Michigan«
ceived financial aid

trm

The investi gat i©ns at these institutions have re*
the Rockefeller Foundation«

The two chemists arc only two of the many scientists who are attempting

I

to solve the problem of hablt-ferming narcotics throu^i the unified efforts
of the Committee os larug Addiction*

The clinical work has been carried on

under the guidance of the Public Health Service, and the Committee decided
to fester an investigation in the chemistry of narcotics in order to ferret
out the nature ef drugs themselves and determine the possibility of producing
a synthetic drug which would lessen the danger of addiction*

I

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS
Sunday, June 25, 1959»

Press Service
18*-5

In recognition of the progress of Dr* Lyndon F* Small and Dr* Nathan B* Eddy
of the United States Public Health Service in their quest for a substitute for
morphine, Commissioner of Narcotics H* J* Anslinger will present to them Tuesday
the 1938 award of the American Pharmaceutical Manufacturers Association for the
year’s most outstanding chemical research*
The presentation will be made during sessions of the association’s annual
meeting at Skytop, Pa*

Commissioner Anslinger will represent the Committee on

Drug Addiction of the National Research Council, coordinating agency for the
research of which the Public Health Service chemists* studies are a part*

Small

and Eddy have been conducting experiments on the chemistry and pharmacology in
the morphine series, synthesizing substances with narcotic action and making
clinical studies of drug addiction*
Dr* Small is a consultant at large for the Public Health Service’s Division
of Mental Hygiene for field studies and investigation of narcotic drug addiction,
and has been conducting his work in chemistry at the University of Virginia*
Dr* Eddy is a consultant biologist in alkaloids, who has made investigations in
chemo-therapy and pharmacology at the University of Michigan#

The investigations

at these institutions have received financial aid from the Rockefeller Foundation*
The two chemists are only two of the many scientists who are attempting to
solve the problem of habit-forming narcotics through the unified efforts of the
Committee on Drug Addiction*

The clinical work has been carried on under the

guidance of the Public Health Service, and the Committee decided to foster an
investigation in the chemistry of narcotics in order to ferret out the nature of
drugs themselves and determine the possibility of producing a synthetic drug
which would lessen the danger of addiction*
-oOo-

- 3 -

he was transferred to the field service and appointed Assistant Head of the
Hevsr York Division of the Technical Staff#

He is a graduate of Southeastern

University, Y&shington, D# C#, and a member of the Bar of the District of
Columbia#

During the world War he served first as a civilian in the Military

Intelligence Division of the War Department and later as a Sergeant-Major in
the United States Anay#

0O 0-

and has been admitted to practice before the United States Supreme Court*

He

is a veteran of the World War, having served in the United States Army Air
Service from February, 1918, to April, 1919*
Mr* Cann is also a native of Massachusetts, having been b o m in Cohasset
forty-one years ago*

He has been employed continuously in the internal

revenue service for the past fifteen years, and has risen from the ranks*
He m s

appointed as an Auditor in the Income Tax Unit of the Bureau in 1924

and during the years 1925 to 1937 was attached to the office of the Internal
Revenue Agent in Charge at Atlanta, Georgia, where he held, successively, the
positions of Revenue Agent, Reviewer, Conferee, Chief Conferee and Assistant
Agent in Charge*

On March 1, 1938, he m s placed in charge of the Los

Angeles Division of the Technical Staff, which was set up on that date as
a special branch of the Bureau for the purpose of making a practical test
of the plan of decentralizing the settlement activities of the Bureau*

As

the innediate result of this experiment, the Pacific Division of the TechnicalSfa
was established July 1, 1938, with Mr* Cann as its Head*
Mr* Cann is a graduate of the Atlanta Law School, member of the Bar of
the State of Georgia, and a Certified Public Accountant of that State*

He

is a veteran of the Yiorld Ttfer having seen active service at the front as a
corporal and sergeant in the United States Army Tank Corps of the American
Expeditionary Force*
Mr* Bean, who is 42 years old, m s b o m in Inkerman, West Virginia*
He is a career man with a continuous record of twenty years in the internal
revenue service, having been appointed as a clerk in the Income Tax Unit
of the Bureau, Washington, D* C., in July, 1919*

He has held in the Bureau

positions of Assistant Auditor, Auditor, Reviewer, Conferee, Technical
Adviser, and Senior Technical Adviser to the Commissioner*

On August 1, 1938,

For Monday a m ’s

Secretary Morgenthau today announced the appointment, effective July 1,
of Timothy C. Mooney, Head of the Hew York Division of the Bureau of Internal
Revenue Technical Staff, to be Deputy Commissioner of Internal Revenue, in
charge of the Income Tax Unit of the Bureau«

He will fill the vacancy caused

by the recent death of John R* Kirk*
Succeeding Mr* Mooney at Hew York on July 1 will be Horman D* Cann, who
for the past year has been Head of the Pacific Division of the Technical Staff.
Mr. Cann in turn will be replaced at San Francisco by Virgil Bean, who has
been Assistant Head of the Hew York Technical Staff Division«
Mr« Mooney, who was born at Fall River, Mass*, December 22, 1897, is
essentially a career man in the Government, having been appointed as a
clerk in the Income Tax Unit of the Bureau of Internal Revenue in January,
1920«

He has been employed continuously in the internal revenue service

since that date, having held in the Bureau at lashington, D. C«, the
positions of Auditor, Reviewer, Special Travelling Investigator, Associate
Technical Adviser to the Deputy Commissioner of the Income Tax Unit, Senior
Technical Adviser to the Commissioner, Acting Head of the Technical Staff,
and Head of the Conference Division of the Income Tax Unit«
When the Hew York Division of the Technical Staff was established on
August 1, 1938, under the plan of decentralizing tax disputes, he was placed
in charge of that Division with authority to settle for the Commissioner con­
tested income, profits, estate, and gift tax cases arising in the rotate of
Hew York, which originates one-fourth of the entire volume of Federal receipts
from these sources«
Mr« Mooney is a graduate of Southeastern University, and of George
Washington University«

He is a member of the Bar of the District of Columbia

TREASURY DEPARTMENT
Washington

Press Service
18-6

FOR RELEASE, MORNING NEWSPAPERS
Monday« June 26, 1959» _____

Secretary Morgenthau today announced the appointment, effective July 1,
of Timothy C. Mooney, Head of the Hew York Division of the Bureau of Internal
Revenue Technical Staff, to be Deputy Commissioner of Internal Revenue, m
charge of the Income Tax Unit of the Bureau.

He will fill the vacancy caused

by the recent death of John R* Kirk*
Succeeding Mr* Mooney at New York on July 1 m i l be Norman D* Cann, -who.
for the past year has been Head of the Pacific Division of the Technical Staff.
Mr. Cann in turn will be replaced at San Francisco by Virgil Bean, who has
been Assistant Head of the New York Technical Staff Division*
Mr* Mooney, who was b o m at Fall River, Mass., December 22, 1897, is
essentially a career man in the Government, having been appointed as a clerk
in the Income Tax Unit of the Bureau of Internal Revenue in January, 1920.
He has been employed continuously in the internal revenue service since that

:

date, having held in the Bureau at Washington, D. C*, the positions of Auditor,
Reviewer, Special Travelling Investigator, Associate Technical Adviser to the
Deputy Coinnissioner of the Income Tax Unit, Senior Technical Adviser to the
Commissioner, Acting Head of the Technical Staff, and Head of the Conference
Division of the Income Tax Unit*
When the New York Division of the Technical Staff was established on
August 1, 1938, under the plan of decentralizing tax disputes, he m s

placed

in charge of that Division with authority to settle for the Commissioner con­
tested income, profits, estate, end gift tax cases arising in the State of
New York, which originates one-fourth of the entire volume of Federal receipts
from these sources*

2

Mr* Moonoy is a graduate of Southeastern University, and of George
Washington University*

He is a member of the Bar of the District of Columbia

and has been admitted to practice before the United States Supremo Court*

He

is a veteran of the World War, having served in the United States Army Air
Sorvice from February, 1918, to April, 1919*
Mr* Cann is also a no.tive of Massachusetts, having been born in Cohassot
forty-one years ago*

Ho has been employed continuously in the internal

revenue sorvice for the past fifteen years, and has risen from the ranks*
ms

He

appointed as an Auditor in the Income Tax Unit of the Bureau in 1924

and during the years 1925 to 1937 was attached to the office of tho Internal
Revenue Agent in Charge at Atlanta, Georgia, whore ho hold, successively, tho
positions of Revenue Agent, Reviewer, Conferee, Chief Conferee and Assistant
Agent in Charge*

On March 1, 1938, he was placed in charge of the Los Angeles

Division of the Technical Staff, which was sot up on that date as a special
branch of tho Bureau for tho purpose of making a practical test of tho plan
of decentralizing the settlement activities of the Bureau*

As tho immediate

result of this experiment, the Pacific Division of tho Technical Staff was
established July 1, 1938, with Mr* Cann as its Head*
Mr* Cann is a graduate of tho Atlanta Law School, member of the Bar of
tho State of Georgia, and a Certified Public Accountant of that State*

Ho

is a veteran of tho World War having seen active service at tho front as a
corporal and sergeant in the United States AXmy Tank Corps of tho American
Expeditionary Force*
Mr* Bean, who is 42 years old, was born in Inkcrman, West Virginia*
He is a career man with a continuous record of twenty years in the internal
revenue service, having been appointed as a clerk in the Income Tax Unit
of the Bureau, Washington, D* C*, in July, 1919*

He has held in the Bureau

- 3 -

positions of Assistant Auditor, Auditor, Reviewer, Conferee, Technical Adviser,
and Senior Technical Adviser to the Commissioner.

On August 1, 1938, he was

transferred to the field service and appointed Assistant Head of the New York
Division of the Technical Staff.

He is a graduate of Southeastern University,

Washington, D. C., and a member of the Bar of the District of Columbia.

During

the World War he served first* as a civilian in the Military Intelligence
Division of the War Department and later as a Sergeant-Major in the United
States Army.

-oOo-

-

per pound.

2

-

Upon receipt by the Bureau of* Customs of complete reports

from customs officers covering imports of this class of cattle, the
collectors of customs will be authorized to liquidate at the lower rate
of duty such

entries or withdrawals, or portions thereof, found to

come within the quota limitation.

-- 0 O0 —

\V
/)

PRESS RELEASE

Hie Commissioner of Customs said today that instructions have been
issued to the collectors of customs to provide for equal opportunities
at all ports for clearing cattle under the tariff rate quota on imports
of cattle weighing 700 pounds or more each, from countries other than
Canada, at the beginning of the third quarterly quota period on July X,
1939.
Under the provisions of the trade agreement with Canada imports
of this class of cattle from countries other than Canada, at the lower
rate of duty provided for in the trade agreement, are limited to 8,280
head during the third quarter of the calendar year.

Hie Commissioner

said that arrangements have been made for all customhouses where
entries, or withdrawals from bonded pastures, for consumption of this
class of cattle are likely to occur to open simultaneously on July 1,
1939, at 11:00 A. M. Eastern Standard Time, which will be 10:00 A. M.
Central Standard Time, 9:00 A. M. Mountain Standard Time and 8:00 A. M.
Pacific Standard Time.
Entries and withdrawals for consumption covering this class of
cattle may be accepted at the lower rate of duty of lj cents per pound
under the trade agreement, provided delivery permit is not released
pending determination of their quota status.

If delivearyy permit is

desired before such determination, importers of this class of cattle will
be required to deposit estimated duties at the full tariff rate of 3 cents

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Saturday, June 24, 1939.

Press Service
No. 18-7.

The Commissioner of Customs said today that instructions have been issued
to the collectors of customs to provide for equal opportunities at all ports for
clearing cattle under the tariff rate quota on imports of cattle weighing 700
pounds or more each, from countries other than Canada, at the beginning of the
third quarterly quota period on July 1, 1939.
Under the provisions of the trade agreement with Canada imports of this
class of cattle from countries other than Canada, at the lower rate of duty pro­
vided for in the trade agreement, are limited to 8,280 head during the third
quarter of the calendar year.

The Commissioner said that arrangements have been

made for all customhouses where entries, or withdrawals from bonded pastures, for
consumption of this class of cattle are likely to occur to open simultaneously on
July

1,

1939, at 11:00 A. M. Eastern Standard Time, which will be 10*00 A.M.

Central Standard Time, 9:00 A. M. Mountain Standard Time and 8:00 A. M. Pacific
Standard Time.
Entries and withdrawals for consumption covering this class of cattle may be
accepted at the lower rate of duty of

cents per pound under the trade agree-

merit, provided delivery permit is not released pending determination of their
quota, status.

If delivery permit is desired before such determination, importers

of this class of cattle will be required to deposit estimated duties at the full
tariff rate of 3 cents per pound.

Upon receipt by the Bureau of Customs of com­

plete reports from customs officers covering imports of this class of cattle,
the collectors of customs will be authorized to liquidate at the lower rate of
duty such entries or withdrawals, or portions thereof, found to come within the
quota limitation.
— oOo—

Y

$
PRESS RELEASE
Aötinfc
Th©ACommis 3 ioner of Customs today announced that preliminary
reports from the collectors of customs show imports from Canada
of 50,939 head of oattle weighing 700 pounds or more each, other
than dairy cows, during the period April 1 to June 17, 1939,
inclusive.
This total represents 98.49 percent of the tariff rate quota
on imports of this class of oattle from Canada for the second
quarter of the current calendar year, provided for under the quota
provisions of the Canadian Trade Agreement.

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Monday. June 26« 1939.

Press Service
No. 18-8

The Acting Commissioner of Customs today announced
that preliminary reports from the collectors of customs showimports from Canada of 50,939 head of cattle weighing 700
pounds or more each, other than dairy cows, during the period
April 1 to June 17, 1939, inclusive.
This total represents 98.4-9 percent of the tariff
rate quota on imports of this class of cattle from Canada for
the second quarter of the current calendar year, provided for
under the quota provisions of the Canadian Trade Agreement.

— oOo—

- A -

family. Small pox is stated to have come to the
Hew World through Spain, about 1507.
Vaccination protects the child. Therefore,
small pox has now become more prevalent among adults.

- 3 -

"The answer to the question why we continue to have smallpox
is found in the three words— failure to vaccinate.

One of the explana­

tions— not excuse— for this state of affairs is probably the compara-

I

tive mildness of the disease in recent years and the reduction of
incidence as compared with that of 15 or 20 years ago. Except in out­
breaks of virulent type, relatively few persons now die of smallpox as
compared with earlier years; and although authorities differ in opinions
regarding the possibility of the malignant type developing spontaneously
from the milder disease, past experience demonstrates that this possibility I
must be considered.

In addition, there is always the danger that the

malignant form may be introduced from outside our boundaries.

In either

instance the building up of a large group of nonimmune persons by the
I
neglect of vaccination presents an exceedingly serious situation.

While

it is to be hoped that a virulent type of smallpox will not again appear,
we cannot rely on hope.”
Background:
Once, smallpox (also called kaffir pox, cotton
pox, milk pox, para smallpox or, simply, pox) was more
common, more fatal, than measles. For centuries the
scourge of the Old World, it depopulated cities, ex­
terminated nations: in Europe alone, it killed hundreds
of thousands annually. In the Eighteenth century there,
almost everybody had it before he grew up.
Formerly a disease of children, it was called
Kinderbl&ttera. A hundred years ago, parents exposed
their children to it in order to be through with it,
just as now they do sometimes with minor contagious
diseases. In China a mother does not number among
her children those who have not yet had smallpox; she
well knows how uncertain will be their stay in the

1

-

2

-

*’No other disease of mankind**/ the Report states, **is so easily
controlled*

The efficacy of vaccination needs no further demonstration,

and with modern methods, this simple prophylactic procedure causes little
or no discomfort*

The cost

is so small as to make it readily available

and within the means of everyone*

With a proper regard for, and the appli­

cation of, this effective means of prevention, there is no doubt that small
pox can be eliminated from every section of the country* *^
^ I n all parts of this country, except in the Great Plains and Pacific
Northwestern States, the disease is relatively rare.

In some of the States,

however, notably North and South Dakota, Montana, Utah, Wyoming, Oregon,
and Idaho, the case rate is among the highest reported anywhere in the
world*

The present high incidence started in the Northwestern States and

has spread slowly until many States outside the ^ m a l l pox areaj^are
reporting a much higher case rate than usual*
in the small pox area are sparsely settled*

Fortunately, these States
It can be readily seen

how unfortunate it would be if the current case rate in Idaho, for example,
(108 per 100,000 population) prevailed in Pennsylvania or New Jersey where
no cases were reported last year*

TREASURY DEPARTMENT
U. S. PUBLIC HEALTH SERVICE
Washington

FOR RELEASE

I

F

"

f

Small pox, historic scourge of nations, is still an important
public health problem.

cl
The number of reported cases last year, according t o ^ i w p ^ i ^ # ^

^

.(k&M
t.ti ft'iaTui!«■» < " W h y S M A l I T o x ? rt.Kpublic HeaTtS Reports,
IX ’tsss*- "sss-* -ff? —
was about 15 ,0 0 0 - approximately 2 2 percent greater than the number for 1937
and more than twice the 5-year median 1933-37.

The situation in the New

England and Middle Atlantic States, where no cases were reported, is in
striking contrast with other regions of the country.
The incidence of small pox has been increasing in the United
States since 1934- when slightly more than 5,000 cases were reported.
By 1937, with 11,673 cases, the number reported had more than doubled.
Preliminary reports for the first 24 weeks of 1939> however, indicate that
the incidence during the current year will be somewhat lower than for 1933.
"The United States led all other nations of the world except India
says the Report, "in the number of small pox cases reported in 1937.

In

1936, (last available world-wide figures) England and Wales, with a populate
of almost 41*000,000, reported only 12 cases; France, with a million more,
273 cases; and Germany, with a population of almost 67,500,000 reported none
Actual incidence is unknown in most parts of South America, Africa
and Asia.

In view of the success of other leading nations of the world in

practically stamping out small pox, say Service officials, the situation
prevailing in the United States reveals a curious indifference to the
existence of a disease which can be readily controlled by well-known methods

TREASURY DEPARTMENT
U.S, Public Health Service
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Wednesday, June 28, 1939»
6 /2 6 /3 9 .

Press Service
No, 18-9

Smallpox, historic scourge of nations, is still an important public
health problem.
The number of reported cases last year, according to a study, "Why
Smallpox?" in the current issue of PUBLIC HEALTH REPORTS, was about 15,000 approximately 22 percent greater than the number for 1937 and more than twice
the 5-year median 1933-37,

The situation in the New England and Middle

Atlantic States, where no cases were reported, is in striking contrast with
other regions of the country.
The incidence of smallpox has been increasing in the United States
since 1934- when slightly more than 5,000 cases were reported.
11,673 cases, the number reported had more than doubled.

By 1937, with

Preliminary reports

for the first 2 4 weeks of 1939, however, indicate that the incidence during
the current year will be somewhat lower than for 1 9 3 &.
"The United States led all other nations of the world except India,"
says the Report, "in the number of smallpox cases reported in 1937.

In 1936,

(last available world-wide figures) England and Wales, with a population of
almost 41,000,000, reported only 12 cases;

France, with a million more, 273

cases; and Germany, with a population of almost 67,500,000 reported none,"
Actual incidence is unknown in most parts of South America, Africa
and Asia,

In view of the success of other leading nations of the world in

practically stamping out smallpox, say Service officials, the situation pre­
vailing in the United States reveals a curious indifference to the existence
of a disease which can be readily controlled by well-known methods.

2

-

"No other disease of mankind," the Report states, "is so easily con­
trolled,

The efficacy of vaccination needs no further demonstration, and with

modern methods, this simple prophylactic procedure causes little or no discom­
fort,

The cost is so small as to make it readily available and within the

means of everyone*

With a proper regard for, and the application of, this

effective means of prevention, there is no doubt that smallpox can be eliminated
from every section of the country.
"In all parts of this country, except in the Great Plains and Pacific
Northwestern States, the disease is relatively rare.

In some of the States,

however, notably North and South Dakota, Montana, Utah, Wyoming, Oregon, and
Idaho, the case rate is among the highest reported anywhere in the world. The
present high incidence started in the Northwestern States and has spread slowly
until many States outside the smallpox area are reporting a much higher case
rate than usual.
settled.

Fortunately, these States in the smallpox area are sparsely

It can be readily seen how unfortunate it would be if the current

case rate in Idaho, for example, (108 per 100,000 population) prevailed in
Pennsylvania or New Jersey where no cases were reported last year,
"The answer to the question why we continue to have smallpox is found
in the three words— failure to vaccinate.

One of the explanations— not excuse

for this state of affairs is probably the comparative mildness of the disease
in recent years and the reduction of incidence as compared with that of
years ago.

15

or 20

Except in outbreaks of virulent type, relatively few persons now die

of smallpox as compared with earlier years; and although authorities differ in
opinions regarding the possibility of the malignant type developing spontaneously
from the milder disease, past experience demonstrates that this possibility must
be considered.

In addition, there is always the danger that the malignant form

3

may be introduced from outside our boundaries.

In either instance the building

up of a large group of non-immune persons ty the neglect of vaccination presents
an exceedingly serious situation.

While it is to be hoped that a virulent type

of smallpox will not again appear, we cannot rely on hope*"

Background:
Once, smallpox (also called kaffir pox, cotton pox,
milk pox, parasmallpox or, simply, pox) was more common,
more fatal, than measles.
For centuries the scourge of the
Old_World, it depopulated cities, exterminated nations: in
Europe alone, it killed hundreds of thousands annually. In
the Eighteenth century there, almost everybody had it before
he grew up,
I!
Formerly a disease of children, it was called Kinderblattern,
A hundred years ago, parents exposed their children to it in order
to be through with it, just as now they do sometimes with minor
contagious diseases.
In China a mother does not number among
her children those who have not yet had smallpox; she well knows
how uncertain will be their stay in the family. Smallpox is
stated to have come to the New World through Spain, about 1507.
Vaccination protects the child. Therefore, smallpox has
now become more prevalent among adults.

— 0 O0 —

f&s&strar D m r a s B m

mmnmm
Press Serrice

mmksliasi, mmm hsispafkrs,

Tuesday« Jtano 27, 1939»
6/86/39

]

r

|

Tbe Secretary of the Treasury «nnouneed last eeenin« that the
tenders for #100,000,000, or thereabout«, of 91-day Treasury bills, to be
d«t*4 JUn*

83,

28 ani to

were opened

mature

September 27,

at the Fedors! Reserre

1989,

*ieb

bank« on Fane

« «

Offered 0»

Jto*

1

26.

2

The detail« of this i«»»e are a» follow«:
Total applied for
Total accepted

*

a

#836,069,000
100,109,00©

Range of accepted bid«:
f T
.

1X5

. .

Axaraa» pri«9

_

99.998

•

m

SqulTalent rate approximately 0.008 parsent

999

•

«».*»»

*

*

0.005

(77 percent of the amount bid for at the low prioe n » aoeepted)

i

•

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS.
Tuesday, June 27. 1 Q 1 Q.

6726/39.

Press Service
No. 18-10

,Ji----------

The Secretary of the Treasury announced last evening that the tenders
for $100,000,000, or thereabouts, of 91-day Treasury bills, to be dated June
28 and to mature September 27,

1939 ,

which were offered on June 23, were opened

at the Federal Reserve banks on June 26,
The details of this issue are. as follows:
Total applied for
Total accepted

-

$236,069,000
100,109,000

Range of accepted bids:
High
Low
Average price

- 100.
-

99.998 Equivalent rate approximately 0.008 percent
99.999
«
«
»
0.005
»

(77 percent of the amount bid for at the low price was accepted)

m w Bd g r m w m
June 28,

Cu

w,

award of a silver life

Secretary

So

ÖL
second çlass -Jalter Philip Lagerstedt
'S»
<»»
’V
r-.
**
re s c M
<Jy
Coast Guard, in recognition of his hrmmi« affif■
a shipmate
saving medal to

from drowning.
Cl »i<
iile the

^

^3,
Cutter HAIBA was docked at Juneau, Alaska,MJhieF JtZadioman Thomas P.
\
returning from leave^

Craig, 4ï*-

missed foothold on the gangway and fell into the water.

Seaman Lagerstedt

went over the side of the ship

hearing the alarm

into the water and swam to the assistance of Craig whoA laying unconscious
in the water under the dock.

With the assistance of a Coast Guard officer,
y from undffic.jflig_ do ck J
Lagers tedt brought the unconscious man/^bo the side of the ship where he was
hoisted aboard ship and given medical care.

made fast to a Jacobs ladder

Seaman Lagerstedt was born in Seattle, Washington^on March 2 , 1919,
and enlisted in the United States Coast Guard at Seattle on November 19, 1937
as an apprentice seaman.

He 15

served on board the ^rrmt finnrr'rVit*~r NOBTH-

LAND until January 19, 1938, at which time he was transferred to tfeaadGtt&JLAAp»
Hu» present station.

He was promoted to Seaman, second clasj on

February 25, 1938.
The medal has been forwarded to th^ Commanding Officer of the
HAlDAl^h

who will formally award this medal to Lagerstedt.

>

$ * * * * * * *

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Wednesday, June 28, 1939.

Press Service
No. 1 8 - 1 1

Secretary Morgenthau today announced the award of a silver life­
saving medal to Second Class Seaman Walter Philip Lagerstedt, United States
Coast Guard, in recognition of his rescue of a shipmate from drowning.
Tifriile the Cutter HAIDA was docked at Juneau, Alaska, on March 23,
Chief Radioman Thomas P, Craig, returning from leave, missed foothold on
the gangway and fell into the water.

Seaman Lagerstedt, hearing the alarm,

went over the side of the ship into the water and swam to the assistance
of Craig, who was lying unconscious in the water under the dock.

With the

assistance of a Coast Guard officer, Lagerstedt brought the unconscious man
from under the dock to the side of the ship where he was made fast to a
Jacobs ladder, hoisted aboard ship and given medical care.
Seaman Lagerstedt was b o m in Seattle, Tiashington, on March 2, 1919,
and enlisted in the United States Coast Guard at Seattle on November 19,
1937, as an apprentice seaman.

He served on board the Cutter NORTHLAND

until January 19, 1938, at which time he was transferred to his present
station.

He was promoted to Seaman, second class, on February 25, 1938,

The medal has been forwarded to the Commanding Officer of the
HAIDA, who will formally award this medal to Lagerstedt,.

•oOo*

The Treasury order provides that the duties and functions of t he
Commissioner of Lighthouses shall be taken over by the Commandant of the
Coast Guard* Rear Admiral R. R. Waesche.

Lighthouse personnel in Washington

is consolidated with Coast Guard headquarters personnel.

Lighthouse Service

employes who perform legal services are made part of the General Counselfs
office.

Lighthouse personnel in the field and on vessels is consolidated

with Coast Guard personnel* by assignment of the Commandant.
The Coast Guard* one of the Treasury’s oldest services, developed from
the Revenue Cutter Service, organized to suppress smuggling and other vio­
lations of law in coastal waters, and from the Life Saving Service, establish­
ed to maintain rescue stations at places of danger on the nation’s coasts.
The Coast Guard will celebrate its sesquicentennial next year, August
4, 1940.

Its parent, the Revenue Cutter Service, was organized August 4>1790.

The lighthouse service began with the Lighthouse Establishment* August 7
1789.

^

orw/W'V

1

\

CHICAGO DISTRICT - Headquarters, Chicago, 111.
The parts of Michigan and Wisconsin east of
Longitude 90° ’
«vest and not included in the
Cleveland District, Indiana (north of Latitude
41° North), Illinois (north of Latitude 4 1 °
North and east of Longitude 90° West). Lake
Michigan and the navigable waters tributary
thereto.
ST. LOUIS DISTRICT - Headquarters, St. Louis, Mo.
West Virginia, Kentucky, Tennessee, Arkansas,
Oklahoma, Kansas, Nebraska, South Dakota, Iowa,
Missouri; the parts of Pennsylvania, Ohio,
Indiana, Illinois, Wisconsin, Minnesota, Texas,
Louisiana, Mississippi and Alabama not included
in the New York, Cleveland, Chicago, New Orleans
and San Francisco Districts; the Mississippi
River and navigable waters tributary thereto.
SAN FRANCISCO DISTRICT - Headquarters, San
Francisco, Cal. California, Arizona, New Mexico,
Nevada, Utah, Colorado, and that part of Texas
north of Latitude 31° North and west of Longitude
103° West.
Coastal waters and the Pacific Ocean south of Lati­
tude 42° North and east of Longitude 140° West.
ptf^SEATTLE DISTRICT - Headquarters, Seattle, Wash.
Washington, Oregon, Idaho, Montana, Wyoming.
Coastal waters and the Pacific Ocean between
Latitudes 42° North and 50° North.
(«¡■^""jUNEAU DISTRICT - Headquarters, Juneau, Alaska.
Alaska.
Coastal waters and the Pacific Ocean (north of
Latitude 50° North), Bering Sea, Arctic Ocean.
(*^£) HONOLULU DISTRICT - Headquarters Honolulu, T. H.
Territory of Hawaii and Pacific Islands belonging
to the United States.
Coastal waters and the Pacific Ocean west of Longi­
tude 140° West and south of Latitude 42° North.

d Vimm gmtei? I

j

çrL,nulIIIdfilltfimi

- 4 -

I

Coastal waters' from the southern limits of the
hew York District to a line from the intersection
of the coast line with the North Carolina - South
Carolina State line, to Frying Pan Shoals Light­
ship; the Atlantic Ocean between the latitude of
Frying Pan Shoals Lightship and the southern lim­
its of the New York District.
¡0$ JACKSONVILLE DISTRICT - Headquarters, Jacksonville,
Fla. South Carolina, Georgia, Florida (east of the
Apalachicola River).
Coastal waters from the southern limits of the Nor­
folk District to Longitude 85° Nest, the Gulf of
Mexico east of Longitude 85° Nest and the Atlantic
Ocean between.the southern limits of the Norfolk
District and the northern and western limits of
the San Juan District.
jj^L'EW ORLEANS DISTRICT - Headquarters, New7 Orleans, La.
The parts of Florida, Alabama, Mississippi, Louisiana
and Texas south of Latitude 31° North and west of the
western limits of the Jacksonville District.
Coastal waters and the Gulf of Mexico west of Longi­
tude 85° West.
SAN JUAN DISTRICT - Headquarters, San Juan, P. R.
The Island of Puerto Rico and Caribbean Islands be­
longing to the United States.
The Atlantic Ocean east of Longitude 70° West and
south of Latitude 30° North; the Caribbean Sea.
(¿¡Jf CLEVELAND DISTRICT - Headquarters, Cleveland, Ohio.
New York (west of New York District and north of
Latitude
North), Pennsylvania (west of Longi­
tude 79° West and north of Latitude 4-1° North),
Ohio (north of Latitude 4-1° North), Michigan (Lower
Peninsula east q>f Longitude 84-0 West, and Upper Pen­
insula north of Latitude 4-6° North, except Mackinac
County), Wisconsin and Minnesota (north of Latitude
4-6 ° North)#

fybkQM Ohi&rio, Erie, St. Clair,
Huron (e«$tj sf Longitude £&? ’
West), Superior and
navigable waters tributary thereto.

TREASURY DEPARTMENT
UNITED STATES COAST GUARD
WASHINGTON

/
20 June, I939f

//

General Order No. 37
1 .
effective July 1, 1939:

Article 1, page 102.

/
Add the following paragraph:

n(3) (a) Pursuant to the Reorganization Ac/t of 1939 (Public No. 19,
76th Congress), the President's Reorganization* Plan No. II promulgated
thereunder, effective July 1, 1939, and PubLfc Resolution No. 20, approved
June 7, 1939, the Bureau of Lighthouses in/the Department of Commerce and
its functions are transferred to and consolidated with and administered as
a part of the Coast Guard in the Department of the Treasury. On and after
the effective date of Reorganization Pifan No. II, the duties, responsibili- I
ties, and functions of the Commissioner of Lighthouses shall be vested in
]
the Commandant of the Coast Guard. /
"(b) The personnel of the Lighthouse Service in Washington, D.C.,
is hereby consolidated with and jnade.part of the Coast Guard Headquarters
personnel, and shall be assigned to such units and such duties as the
commandant shall direct, except that, persons who perform legal services shall j
be consolidated with and mady part of the Office of the General Counsel and
shall be under the directicua and control of the general counsel.
"(c) The personnel qi the Lighthouse Service in the field and on vessels
is hereby consolidated m t h the Coast Guard personnel, and shall be assigned
to such units and suchyauties as the commandant shall direct . 11
Articles 25 to 'fz inclusive (pages 109 - 115)*
the following a:
es:

Strike out and substitute

"30. For
dministration and operation of the Coast Guard, the United
States, inçiudi
s territories and insular possessions (except the Philippine Islands), And. the waters adjacent thereto, shall constitute a singl
Coast Guard division, with headquarters in 'Washington, D.C. The commandant
is hereby vested with authority with respect to division matters.
"31. /The Coast Guard divisions and sections existing on June 30, 1939,
are abolished.
/
/
"32. All the duties and authority conferred by the Regulations as of
June 3/), 1939, on division commanders are conferred upon the commanders of
the districts established in article 34 of these Regulations.
/
/
/
/

I

W'»"i

ir2TT For the administration and operation of the Coast Guard
t*ie Coast Guard districts and the Lighthouse districts exigUbitî^’*:>n
June 30, 1939, are, pursuant to the Act of August 29,^-è9t^7^39 Stat.
j"
title 14, sec. 95), and section l 6 ^ & ^ t h e Revised Statu'aes ol 4B73 (U.S.C. title 5, sec. 22), c^a^ifidated and rearranged
td constit1Nk^i
^tne districts establi^slji»^,i-iin article 34 of these Regu­
lations.

1134. The UnitedS&^Tes, in r1nr f
Un i
,j ^1111 î
and insular
possessions (exce j& ^ u ie Philippine Islands), andtKe*Ws*tefe^
thereto, ar^d^tfided into districts for the administrationanS^p*^ion o f ^ j ^ C o a s t Guard, each under the command of the commander o T
(hfe^erfstrict. The names, headquarters, and .limits of the districts

BOSTON DISTRICT - Headquarters,. Boston,.Mass.
Maine, New Hampshire, Vermont, Massachusetts,
Rhode Island.
Coastal waters northeast of a line from the
intersection of the Rhode Island, Connecticut,
New York State boundary line to Block Island
southwest Ledge Lighted Bell Buoy "2" (Lat. 41°06.7* NV; Long. 71°~4.0.3, W.), to Nantucket Shoals
Lightship (Lat. 4.0°-37.0‘ N . ; Long. 69°-37.1» W.):
the Atlantic Ocean north of the latitude of Nan­
tucket Shoals.
BER YORK DISTRICT - Headquarters, New York, N.Y.
Connecticut, New York (east of the meridian pass­
ing through the intersection of the St. Lawrence
River with the New York-Canada boundary), Pennsyl­
vania (east of Longitude 79° West), New Jersey, '
Delaware.
Coastal waters from the- southern and western limits
of the Boston District to a line from the intersec­
tion of the coast line with the Delaware - Maryland
State boundary line, to Fenwick Island Shoal Lighted
thistle Buoy nl FISt! (Lat. 3B^-26.8 1 N.j Long. 74°~
57.2* W.); the Atlantic Ocean between the southern
and western limits of the Boston District and the
latitude of Fenwick Island Shoal thistle Buoy.
NORFOLK DISTRICT - Headquarters, Norfolk, Va.
Maryland, Virgi nia , North Carolina.

| g

-!

K

Fèr Saturday am*s

To facilitate the consolidation today of the
150-year-old Lighthouse Service into the United States Cgast Guard,
Assistant Secretary of the Treasury Stephen B. Gibbons has authorized
a new district setup for the combined maritime safety, rescue and
enforcement organization*

S

<C**The consolidation becomes effective under the
President's Reorganization Plan No* 2

Originally a Treasury agency,

the Bureau of Lighthouses since jfrOlft has been administered in the
*
'
\
Department of Conmeroe#Jj
Prom the nine Coast Guard divisions of yesterday,
the general order adjusting the former regional organization of the
Lighthouse Service with the Treasury agency establishes thirteen
new districts*

The headquarters cities, district^ boundaries and

limits of their coastal waters are as follows t

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
July 1, 1939.________
6/30 /3 9 .

Press Service
No. 18-12

To facilitate the consolidation today of the 150-year-old Lighthouse
Service into the United States Coast Guard, Assistant Secretary of the Treasury
Stephen B. Gibbons has authorized a new district setup for the combined maritime
safety, rescue and enforcement organization.

The consolidation becomes effec­

tive under the Presidents Reorganization Plan No. 2.
From the nine Coast Guard divisions of yesterday, the general order
adjusting the former regional organization of the Lighthouse Service with the
Treasury agency establishes thirteen new districts.

The headquarters cities,

district boundaries and limits of their coastal waters are as follows:
BOSTON DISTRICT - Headquarters, Boston, Mass. Maine,
New Hampshire, Vermont, Massachusetts, Rhode Island,
Coastal waters northeast of a line from the inter­
section of the Rhode Island, Connecticut, New York
State boundary line to Block Island southwest Ledge
Lighted Bell Buoy "2" (Lat, 41°-06.7f N.s Long.
W . ), to Nantucket Shoals Lightship (Lat.
4'0o-37•0, N.j Long, 69°-37.1f W . ); the Atlantic
Ocean north of the latitude of Nantucket Shoals.
NEW YORK DISTRICT - Headquarters, New York, N, Y.
Connecticut, New York (east of the meridian passing
through the intersection of the St. Lawrence River
with the New York-Canada boundary), Pennsylvania
(east of Longitude 79°W6st), New Jersey, Delaware.
Coastal waters from the southern and western limits
of the Boston District to a line from the intersection
of the coast line with the Delaware - Maryland State
boundary line, to Fenwick Island Shoal Lighted Whistle
Buoy "1 FIS” (Lat. 38 0-26,8, N.; Long. 74-°-57.2! w, )$
the Atlantic Ocean between the southern and western
limits of the Boston District and the latitude of
Fenwick Island Shoal Whistle Buoy,

2

NORFOLK DISTRICT - Headquarters, Norfolk, Va.
Maryland, Virginia, North Carolina*
Coastal waters from the southern limits of the
New York District to a line from the intersection
of the coast line with the North Caroline - South
Carolina State line, to Frying Pan Shoals Light­
ship; the Atlantic Ocean between the latitude of
Frying Pan Shoals Lightship and the southern limits
of the New York District,
JACKSONVILLE DISTRICT - Headquarters, Jacksonville,
Fla, South Carolina, Georgia, Florida (east of the
Apalachicola River),
Coastal waters from the southern limits of the Norfolk
District to Longitude 85° West, the Gulf of Mexico
east of Longitude 85° West and the Atlantic Ocean
between the southern limits of the Norfolk District
and the northern and western limits of the San Juan
District,
NEW ORLEANS DISTRICT - Headquarters, New Orleans, La,
The parts of Florida, Alabama, Mississippi, Louisiana
and Texas south of Latitude 31° North and west of the
western limits of the Jacksonville District,
Coastal craters and the Gulf of Mexico west of Longitude
85° West,
SAN JUAN DISTRICT - Headquarters, San Juan, P, R,
The Island of Puerto Rico and the Caribbean Islands
belonging to the United States,
The Atlantic Ocean east of Longitude 70° West and
couth of Latitude 30° North; the Caribbean Sea,
CLEVELAND DISTRICT - Headquarters, Cleveland, Ohio,
New York (west of New York District and north of
Latitude 42° North), Pennsylvania (west of Longitude
79° West and north of Latitude 41° North), Ohio
(north of Latitude 41° North), Michigan (Lower Penin­
sula east of Longitude 84 West, and Upper Peninsula
north of Latitutde 46° North, except Mackinac County),
Wisconsin and Minnesota (north of Latitude 46° North),
St, Lawrence River, Lakes Ontario, Erie, St, Clair,
Huron (east of Longitude 84° West), Superior and
navigable waters tributary thereto.

CHICAGO DISTRICT - Headquarters, Chicago, 111.
The parts of Michigan and Wisconsin east of
Longitude 90° West and not included in the
Cleveland District, Indiana (north of Latitude
4-1° North), Illinois (north of Latitude 41°
North and east of Longitude 90° West), Lake
Michigan and the navigable waters tributary
thereto,.
ST LOUIS DISTRICT - Headquarters, St. Louis,Mo.
Lest Virginia, Kentucky, Tennessee, Arkansas,
Oklahoma, Kansas, Nebraska, South Dakota, Iowa,
Missourij
the parts of Pennsylvania, Ohio,
Indiana, Illinois, Wisconsin, Minnesota, Texas,
Louisiana, Mississippi and Alabama not included
in the New York, Cleveland, Chicago, New Orleans
and San Francisco Districts]
the Mississippi
River and navigable waters tributary thereto,
SAN FRANCISCO DISTRICT - Headquarters, San
Francisco, Cal, California, Arizona,.New Mexico,
Nevada, Utah, Colorado, and that part of Texas
north of Latitude 31° North and west of Longitude
103° West.
Coastal waters and the Pacific Ocean south of
Latitude 42° North and east of Longitude 140°?fest,
SEATTLE DISTRICT - Headquarters, Seattle, Wash.
Washington, Oregon, Idaho, Montana, Wyoming.
Coastal waters and the Pacific Ocean between
Latitudes 42° North and 50° North.
JUNEAU DISTRICT - Headquarters, Juneau, Alaska.
Alaska.
Coastal waters and the Pacific Ocean (north of
Latitude 50° North), Bering Sea, Arctic Ocean,
HONOLULU DISTRICT - Headquarters Honolulu, T. H.
Territory of Hawaii and Pacific Islands belonging
to the United States.
Ccastalwaters and the Pacific Ocean west of Longi­
tude 140° West' and south of Latitude 42° North.

-

4

-

The Treasury order provides that the duties and functions of the
Commissioner of Lighthouses shall be taken over by the Commandant of the
Coast Guard, Rear Admiral R, R. Waesche.

Lighthouse personnel in Washington

is consolidated with Coast Guard headquarters personnel.

Lighthouse Service

employes who perform legal services are made part of the General Counsel’s
office. , Lighthouse personnel in the field and on vessels is consolidated
with Coast Guard personnel, by assignment of the Commandant,
The Coast Guard, one of the Treasury’s oldest services, developed
from the Revenue Cutter Service, organized to suppress smuggling and other
violations of law in coastal waters, and from the Life Saving Service, es­
tablished to maintain rescue stations at places of danger on the nation’s
coasts.
The Coast Guard will celebrate its sesquicentennial next year, August
4, 1940.

Its parent, the Revenue Cutter Service, was organized August 4*

1790.
The lighthouse service began with the Lighthouse Establishment,
August 7, 1789.

Originally a Treasury agency, the Bureau of Lighthouses

since 1903 has been administered in the Department of Commerce,

— 0O0—

TREASURY DEPARTMENT
WASHINGTON

FOR IMMEDIATE RELEASE
Saturday, July
1939*

Press Service
N°* 12-13

The following statement is made today "by Secretary Morgenthaui
The net results of the financial operations of the Government
for the fiscal year

1939

arG now available on the basis of the figures

appearing in the Daily Treasury Statement for June 30» 1939»

Financial

operations of the Government for the fiscal year 1939 reflected a decrease
of $57^,000,000 in revenues and an increase of $1 ,52 ^,000,000 la expendi­
tures as compared with the preceding year.

Total receipts amounted to

$5 ,662 ,000 ,000 , as compared with $6,2^2,000,000 in

19 32 ;

and total ex­

penditures, exclusive of debt retirements, were $9*210,000,000 as com­
pared with $7,626,000,000 in 1932.
ments) for the fiscal year

1939

1/
deficits of $1,3SU,000,000 for

The net deficit (excluding debt retire­

was $3*5^2,000,000 as -compared with net

1932

x
and $3,1^9,000,000 for 1937*

The following table shows (l) the actual receipts and expenditures
for the fiscal year
the fiscal year

1932 ; (2 )

1939 ; (3 )

the actual receipts and expenditures for

the increase or decrease in

and expenditures as compared with the fiscal year
receipts and expenditures for the fiscal year

1939

1932 “? (^0

1939 »

actual receipts
estimated

as contained in the

Budget Message of last January; and (5 ) the increase or decrease in 1939
actual receipts and expenditures as compared with the Budget estimate:

l/

As revised in accordance with procedure set forth in announcement ac­
companying the Daily Treasury Statement of July 1, 1-932* Statement
showing classified receipts and expenditures on this basis for
fiscal years 1932 to 1932 released with Daily Treasury Statement
of October 10» 1932*

2

-

-

RECEIPTS AND EXPENDITURES
Actual for I93S and 1939* estimates for
as contained in the 1 9 HO Budget*

1939

-____ (millions of dollars)_________ .___________________
^
*
*
*
Increase (+)
*
î Estimate : or decrease (-)
:
ACTUAL
: for 1939 : of 1939 actual
*
—
>
in the : as compared
*
*
* Increase (+) :
19H0 : with Budget
1938
1939 i Decrease (-)
Budget
• estimate
Receipts:

_ 6.2H2

2,182
631
109
2,238
319
189
9.668

559

6H5

+

U71
HH
a
1
291
97H
582
362
3
325
926
100
29
H, 66l

535
Hi
3

+
+
+
+

Income tax ............ ...................
2,635
Taxes under Social Security Act ••••••••••
60H
Taxes upon carriers and their employees ..
150
Other internal revenue
2,285
Customs ............. .
359
Miscellaneous receipts ............ .
______22£L
Total receipts

+
—
_

I+53
27
Hi
*7
Ho
— .20 .
57k

2,086
611
109
2,179
335
200
-..5.520

+
+

59
16
11
lU8

67H

-

29

♦ 96
+ 20
__

Expenditures:

Recovery and relief:
Agricultural aid
Relief .................................
Public Works (including work relief) ...
Aid to home owners
Other
Sub-total
Revolving funds (net):
Farm Credit Administration .............
Public Works Administration
Sub—total

Transfers to trust accounts, etc:
Old-Age Reserve account ........

Railroad, retirement account
Government employees retirement
funds (U. S. share) • • • • • • • • • • • • • • • • • .
Sub—total

Total expenditures (exclusive
of debt retirements) ••*...
Pet deficit ...

I* Excess

o f

credits, deduct.

170
6
l,8lH
2U0
______ 7
2,237
a

13
134
121

+

50
?
2,8H6
198

+
-

-

+
+

-

+

-

8

3,ioH
a

+

8
101
93

+

387
1U7

503
107

+

.7 3
607

75
685

7,626
1,33H

6H
3
H
51
101
30
H25
2H
35
lH
32
2 .....
667
120
H
1,032
H-2
1
867

5
... 33
28
-

593
57
5
339
1,078
5H9
708
27
290
976
71
36

5.H03
113
2
2,9HH
20H
2
3,265
a

7
1H6
139

- 58
- 16
2
+ 3
- 3
+ 3
+ 79
—

- 36
- 3
- 13
- 75
1

Sub-total ••••••....... .

3h2

1,075
552
737
27
290
9H0
68
23
5,328

86

CT\

General:
Departmental •••.•••.... .
Public works (including public build­
ings, public highways, rivers and
harbors and flood control, reclama­
tion, Rural Electrification Adminis­
tration and Tennessee Valley Au­
thority) .... ............... .
Postal deficiency ••••......
Railroad Retirement Board
Social Security Act
Rational defense ...••••..... .
Veterans' Administration
Agricultural Adjustment Program
Farm Tenant Act
Civilian Conservation Corps ............
Interest on the public debt
Hefimds ................................
Other

98
6
+ 6
- 161
-

-

1
H5
H6

116
HO

503
107

+

2
73

75
685

9,210

+

1.58H

9.H92

- 282

3.5^2

+

2,15«

3,972

- H30

+

—
«...
--

« 3-

Total general receipts for the fiscal year
less than those for 193&*

1939

were $57 ^,000,000

This decrease was accounted for by a falling

off in income taxes to the extent of $^53*000,000.

Taxes upon carriers

and their employees decreased $^1 ,0 0 0 ,0 0 0 ; other internal revenue taxes
decreased $^7 ,0 0 0 ,0 0 0 ; customs duties.decreased $^0 ,0 0 0 ,0 0 0 ; and miscel­
laneous revenue decreased $20,000,000*

Taxes collected under the Social

Security Act increased $27,000,000.
The total receipts for the'fiscal year 1939» which amounted to
$5 ,6 6 8 ,0 0 0 ,0 0 0 , were in excess of the estimated receipts for this period
as contained in the President’s Budget Message of January

3.,

1939.

Total

receipts were estimated in the Budget Message as $5,520,000,000, or
$1 ^8 ,000,000 less than receipts actually realized.
.

T

.

:**.'• \v

#d

The total expenditures for the fiscal year 1939 (exclusive of

debt retirements) which amounted to $9 ,210 ,000,000 , were $282,000,000 less
than the estimated expenditures for this period as contained in the
President’s Budget Message of January 3» 1939»

Total expenditures were

estimated in the Budget Message as $9,^92,000,000.
The general expenditures of the- G-overnment amounted to
$5*328,000,000 for the fiscal year
for the fiscal year

1932 ;

1939

an compared with $U,661 ,000,000

an increase of $667,000,000.

The principal increases in general expenditures were —

departmental

$86 ,000 ,000 ; public works (public buildings, public highways, rivers and
harbors and flood control, reclamation, Rural Electrification Administra­
tion, Tennessee Valley Authority), $6 U,000 ,000 ; expenditures under the

- Ij. -

Social Security Act, $51,000,000; national defense, $101,000,000; interest
on the public debt, $14,000,000; Agricultural Adjustment program,
$425,000,000; and Farm Tenant Act, $24,000,000.

These items were offset

by decreases in the general expenditures under the Veterans* Administra­
tion of $30 ,000 ,000 , due principally to the full and final payments due
under the 1912-1919 military and naval insurance policies; refunds of
taxes, $32,000,000; and Civilian Conservation Corps and other miscel­
laneous items, $3 6 ,000 ,000 .
Expenditures for recovery and relief were $267,000,000 more in
1939 than in 193&*

The principal increase under this classification was

in public works including Works Progress Administration, $1,032,000,000.
Against such increase there was a decrease of $12 0 ,000,000 in expenditures
classified under Agricultural Aid, and $45,000,000 in other items.
Expenditures for 193^ under Agricultural Aid included an item of
$94,300,000 to restore the impaired capital of the Commodity Credit Corpora­
tion, whereas corresponding expenditures for

1939

include no such item#

An estimate of appropriation of $119,600,000 was submitted to the Congress
in accordance with the requirements of the Act of March 2, 1932, but the
Congress failed to appropriate such sum before the end of the fiscal year
(H. Doc.

3 17,

June 2, 1939).

If this sum had been made available as

authorized by law, expenditures under this classification for the fiscal
year I939 would have been about the same as for the fiscal year
the net deficit for

1939

19 32 ,

would have been increased by this amount*

and

- 5Operations on account of revolving funds during 1 9 3 9 involved
net expenditures of $93*000,000, a reduction of about $28,000,000 from
193S.
Expenditures representing transfers to trust accounts amounted to
$6 8 5 ,0 0 0 ,0 0 0 for 1 9 3 9 as compared with $6 0 7 ,0 0 0 ,0 0 0 for 1 9 3 8 , an increase
of $78,000,000.

Transactions for 1 9 3 9 reflected increases of $1 1 6 ,0 0 0 ,0 0 0

for the Old-Age Reserve Account; a decrease of $^0,000,000 for the
Bailroad Retirement Account; and an increase of $2,000,000 for Government
retirement funds.
THE PUBLIC DEBT
The gross public debt on June 30» 1939» amounted to $iK),^K),0 0 0 ,0 0 0
as compared with $37,165,000,000 on June 30, 1938; an increase of
$3,275,000,000.

The following table shows the manner in which the in­

crease in the public debt is accounted for (in millions of dollars):
Gross public debt June 30, 1939 ..............* $Uo,U^K)
Gross public debt June 30, 1938 ...............
3 7 ,1 6 5
I n c r e a s e ..... ................................

$3 , 2 7 5

Increase is accounted for as follows:
Net deficit, excluding sinking f u n d ......... +
Excess of receipts in trust accounts,
excluding retirements of national
bank notes ..... ................ .
Increase in general fund balance
........ •
+

3,5^2

889
622

“
5,275

The following statement shows the public debt as of June 30, 1938
and June

30, 1939,

classified by character of issues, as between regular

issues sold .on the market and special issues held for account of Govern­
ment trust and special funds.

It should be noted that there was a net

- 6 -

increase of $3 »2 7 5 »0 0 0 ,0 0 0 'in the amount of the public debt during the
year, of which $2 ,1 8 0 ,0 0 0 ,0 0 0 represented an increase in the amount of
outstanding market issues of public debt securities and $1 ,0 9 5 ,0 0 0 ,0 0 0
an increase in special issues.

Statement of the outstanding public
debt on June 30, 1938 and June 30, 1939
(In millions of dollars)

1221

Market issues
Prewar bonds .......... .
Treasury bonds
U. S. Savings bonds
Adjusted Service bonds .
Treasury notes
Treasury bills
Matured debt on which
interest has ceased .♦
Debt bearing no interest

Special issues
Government Life Insurance Fund
Old-Age Reserve Account ••••••••
Railroad Retirement Account ••••
Government retirement funds ••••
Adjusted Service Certificate
F u n d .... ............ .
Unemployment Trust Fund ........
Postal Savings System
Federal Deposit Insurance
Corporation

..

»
*

1939

1939
Increase (+)
Decrease (-)

197

197

21,81+6
1,238
319
9 .3*7
1 .1 5 U

25,218
1,868
283
7.2^3
1,308

•+

ll+l
l+Ug

11+2

+

,»

+ 3.372
+
630
36
-

1.90U
I5 I+

1+11

1
... 37.

3^ *90

36.670

+ 2,180

523

536

662
66

1,177

396

I47U

26
872
145

20
1 .2 6 7

85

10 1

16

2.675

3 .7 7 0

+ 1,095

*40,4140

+ 3,275

3 7 .1 6 5

67

128

+
+
+
+

13
515
1

78
6

+
+

395
S3

...

- 7 -

The computed rate of interest on the total interest-bearing debt
increased from 2*589$ on June 30» 1938 to 2*600$ on June 30* 1939*
Interest payments on the public debt increased from $926,000,000 in 1938
to $9^0 ,000,000 in

1939 *

The following table shows market issues of Treasury notes, Treasury
bonds and United States Savings bonds offered by the Treasury during the
fiscal year

1939 *

including refunding operations!

Issue
Date

Maturity
Dato

Bate

Face Amounts Issued
(In millions)
Total
Exchanges Cash

Treasury
Notes
A-19 U3
B-19 U3
B-19 U3
A-19 IÄ

1/
2/

9 /15/38
12 / 15/38
3 /15/39
6 / 15/39

6/I5 /U3
12/15/U3
1 2 /1 5 /U3
■ 6/15/^

l-l/g$
l-l/ 8$
1 - 1 /S$
3/U$

9 /15/38
12 / 15/38

9 / 15/52
1 2 /1 5 /U7
1 2 /15/65
9 /15/52
1 2 /15/65

2- 1 /2$
2$
2- 3 /U$
2- 1 /2 $
2- 3 /U$

$

19*2
39*3
53.1

U 1 5 .5

$3^1
32 g ,6
-

$3 6 1,3

3 6 7,9
53*1
U 1 5 .5

Treasury
Bonds
I95O-52
19^7
I96O-6 5

1950-52 3 /
1960-65 5 /

12/15/38
3 /15/39
3 /15/39

United States Savings Bonds (net)
Total bonds and notes

1]

2/
¿/

Additional
Additional
Additional
Additional

issue
issue
issue
issue

of
of
of
of

notes
notes
bonds
bonds

dated
dated
dated
dated

UoU , 7

70 1*1
188*2

^1*7
U 02.9

866 *1+
701*1
591*1
3 19 .1*
89U,3

3 19 ,'+

mm

89^.3

mm

-

630,5

630.5

2 ,l65,8

5 ,200.6

3 ,03^.8

June 15, 1938*
December 15* 1938*
September lf>, 1938#
December 15, 1938.«

- g -

THE GUARANTEED DEBT

The contingent liabilities of the Government in the form of guarantees
as to principal and interest on outstanding obligations of governmental cor­
porations and credit agencies amounted to approximately $ 5 ,^-85 ,000,000 on
June 30, 1939» as compared with
increase of $596,000,000.
and June 30, 1939,

gg9,000,000 on June 30, 1938, a net

A statement of those items as of June 30, 1938

as follows:

STATEMENT OE AMOUNT OE OUT STANDING OBLIGATIONS
AND INTEREST THEREON GUARANTEE!) BY THE UNITED .
STATES AS OF JUNE 30, 1938 AND JUNE 30» 1939 ^
(in millions of dollars)

19 3 s
Commodity Credit Corporation*.•••• • '206
Federal Earm Mortgage Corporation.* i,Ui 9
1
Federal Housing Administration*..»*
Home Owners* Loan Corporation....,, 2 ,96 H
Reconstruction Finance Corporation.
299
•Ml
United States Housing Authority..**

Total

M 8 9

1939
(Estimated)

'206
1,3 2 5
2
2 ,951+
S23
115

5,^25

1/ Does not include obligations held directly by
the Treasury*

1939
Increase
Decrease

- 3 I1
+ 1
- 10
* 52 U

+ 115

+ 596

~ 9 -

Market issues of guaranteed obligations offered by the Treasury
on behalf of governmental agencies during the fiscal year

19 3 9 ,

including

refunding operations, were as follows:

Agency and
Title of Issue

Issue
Bate

R. E. C.
Series
Series
Series

7/20/38
ll/lAS
2/15/39

7/20/1*1
11/1/1*1
1/15/1*2

2/1/39'

2 /l/l*!**

1-3/8#

5/15/39
5/15/39

5/ 15 /uo
5 / 1 5 /iu

3/8#
5/8#

6/1/39

6 / 1 /U 7

Notes:
N
P
R

U.S.H.A, Notes:
Series B
H.O.L.C,
Series
Series
Series

Bonds:
K- 19^0
L- 19 U 1
M-I9H 5
- 19 U 7

Maturity
Bate

Pace Amounts Issued
(In millions)
!E}^CÏ1cÜ1.£!)0s
Cash
Total

Rate

$2 1 1 .5

7/s#
7/8#
7/8#

2 9 7 .1

111*.2
12 7 .9
1 9 1 .g

1 - 1 /2#

TOTAL ...

LOANS AI7D INVESTMENTS

3 1 0 .1

$211,5
297.1

3 1 0 .1

111 *.2
127.9
191,8

6 S 7.3

^ 5 .9

733*2

1 ,301*.1

6 SI .7

1,985.8

'

The Government ’s interest in the net assets (excluding cash on
deposit with the Treasurer of the United States) represented by loans
and other investments of governmental corporations and credit agencies
amounted to $3,265*000,000 as of May 31» 1939» as compared with
$3»7^2,000,000 on May 31, 1938, a net decrease of $1*77,000,000.

-

10

-

TREASURY FINANCING OPERATIONS

During the fiscal year 1939 new issues of Treasury notes, Treasury
bonds, and United States Savings, bonds sold to the public aggregated
$5 ,200 ,000,000 as compared with $3 ,62 ^, 000,000 during the fiscal year
1932#

The computed rate of interest on.all such new issues was 2,206$

as compared with.the computed rate of
fiscal year

2 ,2 o5 $

on similar issues for the

1938 #

The amount of Treasury bills outstanding increased from
$1,15^,000,000 on June

30 ,

1938 to $1,308,000,000 on June

30 ,

1939, an

increase of $15 ^,000 ,000 ,
The Treasury refunded three issues of Treasury notes maturing during
the fiscal year 1939 and also refunded in that year an issue of Treasury
notes maturing September

15,

1939, aggregating in all $3,095,3^3,*+50*

Of this aggregate amount of maturing notes

88^,100

were exchanged

for an equivalent amount of new Treasury notes an<i Treasury bonds.

The

annual interest charge on the maturing notes exchanged.amounted^to
$5 1 ,861 ,802 ,5 1 » equivalent to an annual rate of

1 ,709 $,.whereas,

the

annual interest charge on the new issues amounts to $ 66 ,266 ,237 *7 5 » equivarlent to an annual rate of 2,183$*

The increase in the annual interest

charge on the new issues as compared with the maturing issues was due, of
course, to the fact that more than four— fifths of the exchanges were for
long-term bonds; whereas, the maturing issues were all short-term
obligations bearing low rates of interest.

11

-

The major financing operations of the Treasury were limited to
four quarterly dates, on September
15 and June

15,

1939*

15

and December 15, 1938, and March

The Treasury also handled six financing opera­

tions of agencies authorized to issue obligations guaranteed as to
principal and interest by the United States.

Treasury Issues
The financing on September

15,

1938» consisted of an offering

for cash, at par and accrued interest, of $U00,000,000, or thereabouts,
of 2~l/2$ Treasury Bonds of 1950*“52, and an additional $300,000,000, or
thereabouts, of 1-1 /Sfo Treasury Notes of Series A-19^-3*

The holders of

$^33»^6o,900 outstanding l-l/h$ Treasury Notes of Series 1—1938» matur­
ing December

15,

1938» were offered the privilege of exchanging such

notes either for the Treasury bonds or the Treasury notes, the exchanges
to be made par for par with an adjustment of accrued interest as of
September 15, 1938, and to the extent of such exchanges the offerings
of bonds and notes were subject to increase.

The face amount of 2-l/2$

Treasury Bonds of 1950-52 issued for cash was $U6 l,690,100 and the face
amount issued in exchange for l-l/h$ Treasury Notes of Series E-1938 was
$^0 ^,7 0 7 »100.

The face amount of l~l/S$ Treasury Notes issued for cash

was $3^2,091»300 and the face amount issued in exchange for 1 - 1 Tyeas
ury Notes of Series E- 193 S was $19,250,000.
Eor the December 15, 1938» financing the Secretary of the Treas­
ury offered for cash, at par and accrued interest, $U00 ,000 ,000 , or
thereabouts, of 2 - 3 Treasury Bonis otf*

1960 - 6 5 »

and $300,000,000, or

thereabouts, of 1-1 /S$ T r e a s u ^ Notes of Series B-19^+3» and at the same

-

12

time offered the holders of $9 *+l»6 l3*750 of l-l/ 2$ Treasury Notes of
Series C-1939» maturing March

15,

1939» the privilege of exchanging

such notes for additional amounts of either the Treasury Bonds of

1960-65

or the Treasury Notes of Series B~19*+3* or for new 2$^Treasury

Bonds dated December 15» 193&* and maturing December

15»

19*+7*

Exchanges

were made par for par, with interest adjustments as of December 15» 193&*
An aggregate of $591,089,500 of

2- 3 /**$

Bonds of

1960-65

was issued —

$*i02,892,800 for cash and $188,196,700 in exchange for notes of Series
0-1939»

The face amount of l-l/ 8$ Notes of Series B-19*+3 issued was

$367 ,S59 »200 , of which $328 ,577,200 was for cash and $39 »282,600 in ex­
change for Notes of Series 0-1939*

A face amount of $701,07*+»900 of

Treasury Bonds of 19*+7 was issued in exchange for the maturing notes of
Series 0-1939*
The March

15,

1939» financing consisted of three additional issues

of outstanding securities*

The holders of 2-1/8$ Treasury Notes of

Series A-1939» maturing June 15» 1939» were offered the privilege of ex­
changing such notes either for 1-1 / 8$ Treasury Notes of Series B-19*+3»
2-1/2$ Treasury Bonds of 1950-52» or 2-3/*+$ Treasury Bonds of

1960 - 6 5 .

The maturing notes were received at par and accrued interest, and in ex­
change therefor the l-l/8 $ Treasury Notes of Series B-19*+3 were issued
at 101 and accrued interest; the 2-l/2$ Treasury Bonds of 1950— 52 were
issued at 102-1/2; and the 2-3/*+$ Treasury Bonds of
at 102-3/8 and accrued interest.
of March 15» 1939*

1960-65

were issued

All interest adjustments were made as

Cash subscriptions were not invited.

There were

outstanding on March 15» 1939» $1,293»71*+»200 of Treasury Notes of
Series A-1939» of which $5 3 » H 3»200 were exchanged for Treasury Notes-

- 13 of Series B-I9 U3 , $319 >*-^»500 for Treasury Bonds of 1950-52» and
$89^-1 295»600 for Treasury Bonds of
For the June

15»

1960 - 6 5 .

1939 financing, the Secretary of the Treasury of­

fered 3/HS Treasury Notes of Series A-I 9 UU, on the "basis of par for par
as of June

15»

1939» itt exchange for 1-3/8$ Treasury Notes of Series B-1939*

maturing on September

15,

1939*

notes outstanding on this date.

There were $1+26,554,600 of the September
The face amount of Notes of Series ¡3-1539

exchanged for the Series A-1944 Notes was $1+15*519»500#
Guaranteed Issues
Reconstruction Finance Corporation On July 11, 1938> the Secretary of the Treasury, on behalf of the
Reconstruction Finance Corporation, offered for cash subscription, at par
and accrued interest, $200,000,000, or thereabouts, of notes of the Cor­
poration, designated jfsfo Notes of Series N.

The notes were dated July

20, 1932» and will mature on July 20, 1941.

$211,46o,000 face amount of

this series of notes was issued.
On October 24, 1938» "the Secretary of the Treasury, on behalf of the
Reconstruction Finance Corporation, announced a plan for refinancing
the outstanding Notes of Series K of the Corporation maturing December 15,
1932, by offering for subscription, at par, notes of the Corporation
designated

7 /8$

Notes of Series P, to be dated November 1, 1938 and "to

mature November 1, 1941, and at the same time offering to purchase on
November 1, 1938» at par and accrued interest, the outstanding Notes of
Series K to the extent the holders of such maturing notes subscribed for
the new notes.

The face amount of Series K Notes maturing was $298,972,000

and the face amount of Series P Notes issued was $297»139»000*

- Ik On February 6, 1939, the Secretary of the Treasury, on hehalf of
the Reconstruction Finance Corporation, offered for cash subscription, at

100- 1 /U

and accrued interest, $300,000,000, or thereabouts, of notes of

the Corporation, designated 7/S$ Notes of Series R, to be dated February
15» 1339» and to mature January

15,

19^2.

$310,090,000 face amount of

Series R Notes was issued«
Home Owners1 Loan Corporation —
On behalf of the Home Owners* Loan Corporation, the Secretary of
the Treasury on May S,

1939 ,

offered the holders of l-l/2$ Bonds of Series

F-I939 of the Corporation, maturing on June

1 , 19 3 9 ,

the privilege of.

exchanging such bonds for new bonds of the Corporation to be issued in

15,

two series, both series to be dated and bear interest from May
one series being 1-year

3 /8#

Bonds of Series K- 19 ÌIO, due May

and the other series being 2-year
19^1*

5 / 8$

1 5 , 19 U0 ,

Bonds of Series L- 19 >*1 , due May 1 %

The maturing bonds were received in multiples of $100 , kofi being

treated as a subscription for, the 3/8$ Bonds of Series K-I 9 H0 and
the

1939,

5 /8$

60%

for

Bonds of Series L-I9 UI, with adjustments to the nearest $100

where necessary.

Exchanges were made at par, and accrued interest to May

^-5» 1939 was paid on the maturing bonds.

The offering was strictly on

an exchange basis and $127,867,^00 of Series K-I 9 U0 and $191,801,900 of
Series L-I 9 UI Bonds were issued, representing the amount of maturing bonds
tendered and accepted.

About $325,000,000 of thè Series F-I 939 Bonds were

outstanding when the offering was made.
On May

22 ,

1939» the Secretary of the Treasury, on behalf of the

Home Owners* Loan Corporation, announced an offering of Home Owners* Loan
Corporation l~l/2 $ Bonds of Series M-19^5*"^7» to be dated June

1

,

1939 ,

- 15 -

and to mature June 1, 19^7» but redeemable at the option of the Corporation
on and after June 1, 19^5* in payment of which only 2"-3/^$ Bonds of Series
B, 1939-^9, of the Corporation, called on May 18, 1939» for redemption
on August 1, 1939» night be tendered*.

About $900,000,000 °f the Series B

Bonds were outstanding when the call was issued.

Exchanges were made par

for par, and accrued interest to June 1, 1939» was paid on the called
bonds following their acceptance for exchange*

The offering was strictly

on an exchange basis, with the reservation that to the extent the called
bonds were not exchanged, an additional amount of the l-l/2$ Series
M-I 9U 5-U 7 Bonds night subsequently be offered for cash* ^ $687*268,800 of
Series M-19^5“*^7 Bonds were issued in exchange for the Series B Bonds,
and in addition about $U 6 ,000,000 have been sold for cash, the proceeds
of which, together with other cash funds of the Corporation, are to.be
applied to the redemption on August 1 of called bonds not exchanged*
U* S* Housing Authority —

On behalf of the United States Housing Authority, the Secretary
of the Treasury offered on January 25, 1939* f ° r cash subscription at par
and accrued interest, $100,000,000, or thereabouts, of 5*“y®ar notes of
the Authority, designated 1—3/8$ Notes of Series B*

The notes were dated

February 1,

*

1939»

and will nature on February 1,

19 ^

$llU,1 5 7 * 0 0 0 . face

amount of the notes of Series B was issued pursuant to this offering*

SRiASUiar

mpÁ&mmt

Washington
JOB BALEASE, MGBHIlfö IföWSPAEBBS,
Saturday, July 1 , 1959»------------

Press Service

6 /30/39

Tim Secretary

I*

©f the Treasury announced la st evening that the

tenders for #100,000,000, or thereabouts, of 91-day Treasury b ills , to
be dated July 5 and to mature October 4, 1959, which were offered on
June 28, were opened at toe federal Baser*® banks on Tune 30.
The details of this issue are as follows?
Total applied for
Total accepted

- #882,438,000
— 100,548,000

Bangs of accepted bids:
High

low

Average price

*
-

100.

99.994 Equivalent rate approximately 0.014 percent
99.994j¿
*
*
*
0.014

(98 percent of the mount bid for at the low price was accepted)

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
Saturday ♦ July 1, 1939.________
6/30/3 9 .

Press Service
No. 18-14

The Secretary of the Treasury announced last evening that the tenders
for $100,000,000, or thereabouts, of 91~day Treasury bills, to be dated July
5 and to mature October 4, 1939, which were offered on June 28, were opened
at the Federal Reserve banks on June 30,
The details of this issue are as follows;
Total applied for
Total accepted

-

$282,433,000
100,563,000

Range of accepted bids:
High
Low
Average price

(95

-

100,
99*996

Equivalent rate approximately 0.016 percent
99,996/
11
**"
0,014
”

percent of the amount bid for at the low price was accepted)

— oOo—

(~ A c * Ö

K y

P

^

P

a

P T M

fc'vT'

W / * N-rt i iv CsT 0 »V

P o p immediate release

^ yV ’s J

o A

J^-gora A*-*

Secretary Morgenthau today announced the
of Capt. H. S. Collins as Director
of Procurement.

Capt. Collins has been Assistant Director in charge

of the Supply Branoh since the Division was organized, in 1934.

He

Peoples,

sucoeeds Admiral C. J

who returned earlier in the month torthe Navy ueparomenu, whence he
had been assigned to the Treasury Department.

Born in Washington, D. C., February 25, 1883,
¿■pts the new Director of Procurement was commissioned an ensign afcrtr.in the United States Navy in 1906. He resigned with the rank of
captain in the Supply (torps in 1929 to accept employment in private

Buildings Branoh of the Procurement Division to the new Federal
Works Agency, the S a i d former Supply Branch will constitute the
full activity of the Division.

Its work will he considerably

expanded under the terme of a recent Departmental order announcing
that the Procurement Division will gradually add to its purchasing
for the Government the I d needs of field agencies
Departments other than liter and Navy.

Previously, purchasing has been

confined to needs in the
of the emergency organizations

wemk of the

00O 00

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Saturday, Jtaly 1« 1939.

Press Service
No. 18-15

Secretary Morgenthau today announced the appointment of Capt.
H. E. Collins as Director of Procurement.

Capt* Collins has been

Assistant Director in charge of the Supply Branch since the Division
was organized in 1934-»

He succeeds Admiral C, J, Peoples, who returned

earlier in the month to the Navy Department, whence he had been assigned
to the Treasury Department* •
Born in Washington, D* C*, February 25, 1883, the new Director
of Procurement was commissioned an ensign in the United States Navy in
1905*

He resigned with the rank of captain in the Supply Corps in 1929

to accept employment in private industry and returned to Government
service five years later.
With the transfer today of the Public Buildings Branch of the
Procurement Division to the new Federal Works Agency, the former Supply
Branch will constitute the full activity of the Division,

Its vrork will

be considerably expanded under the terms of a recent Departmental order
announcing that the Procurement Division will gradually add to its pur­
chasing for the Government the needs of field agencies of the Departments
other than War and Navy.

Previously, purchasing has been confined to

needs in the District of Columbia and field establishments of the emer­
gency organizations*

<o0o<

TREASURY D EPAR T A N T
ïïashington

FOR IMMEDIATE RELEASE
Wednesday, July 5» 1939*

Press Service
No. l 8 -l6

The following Treasury Decision to be published in the July 13
issue of TREASURY DECISIONS was issued today by the Commissioner of
Customs

644

(T. D.

)

COUNTERVAILING DUTY - SILK GOODS FROII ITALY

Collectors of customs instructed to suspend liquidation of entries
covering silk goods from Italy pending declaration of amount
of countervailing duty to be collected - Deposit of estimated
countervailing duties required

TREA.SURY DEPARTMENT,
OFFICE OF THE C O U 'ISSIONER OF CUSTOM'S ?
ASHIKGTON, D. C.

TO COLLECTORS OF CUSTOMS AND OTHERS CONCERNED:
Official reports before the Department establish to its satis
faction that bounties or grants are paid or bestowed directly or
indirectly in Italy on the export to the United States of silk
goods which are dutiable under the provisions of the Tariff Act of
1930.
Notice is hereby given that pursuant to the provisions of
section 303 of ths# Tariff Act of 1930 (U.S.C

title 19 9 sec.1303)

9

countervailing duties equal to any bounty or grant found to have
been paid or bestowed vd.ll be collected on dutiablo merchandise
composed in whole or in part of silk and imported directly or
indirectly from Italy, when entered for consumption cr withdrawn from
warehouse for consumption after thirty days after publication

-

2

-

of this notice in a weekly issue of TREASURY DECISIONS, whether
imported in tho condition in which exported from Italy or changed
in condition by renanufacture or otherwise.
The liquidation of all entries covering merchandise described
above and entered for consumption or withdrawn from warehouse for
consumption after thirty days after publication of this notice in
a weekly issue of TREASURY DECISIONS shall bo suspended pending
the declaration of the net total amount of the bounty or grant
determined or estimated to have been paid or bestowed and the net
amount of tho countervailing duties to be collected,

A deposit

of estimated countervailing duties shall be required at the time
of entry.

The foregoing instructions, however, shall not apply to

importations consisting of gifts for the personal use of the donee
or of articles purchased at retail for personal uso,

Tho amount

to be deposited shall be calculated in accordance with the follow­
ing table and predicated on the net woights of the silk (including
schappe and bourrette) contained in the imported products, plus

33 -1 / 3%

of such weights if the naturo.l gun has been removed from

the silk used in the production or manufacture of the imported
product:
(a)

Raw silk yarns, dyed, simple or twisted of double
cocoons 5 lire 32,8 per kilogram

(b)

Yarns of silk waste (schappe) including sowing
lire 49*2 per kilogram

(c)

Yarns of combings (bourrette ) 5 lire 8,2 per kilogram

threads

Raw silk doubled and twisted, drawn, dyed
sowing thread? lire 84.5 per kilogram
(e)

Woven materials, velvets, ribbons, tulles, crepes,
knit goods and stockings, in raw state, lire 87*0
per kilogram, subject to the following variations:
(1)
(2)
(3 )

(f)

j silk

For every kilogram of double yarn lire 34.8
For every kilogram of yarn of waste content lire 52.2
For every kilogram of yarn of bourrette content
lire 8,2

Woven materials, velvets, ribbons, tulles, crepes,
knit goods and stockings, exported in the dyed or
finished state? lire 89*5 par kilogram of silk
content (not weighted), subject to the following
variations:
(1)
(2)
(3 )

For every kilogram of double yarn content lire 36,8
For every kilogram of yarn of waste content lire 55*2
For every kilogram of yarn of bourrette content
lire 9*2

The facts in regard t 0 each importation shall bo reported promptly
to the Bureau of Customs,

The entry and related papers shall

accompany the report.

James H# Moyle,
Commissioner of Customs.
APPROVED:

H, Morgenthau, Jr*,
Secretary of the Tréasury,
3;35 p,m», July 5, 1939,

** 4 *

that th© first report »ball cover the -erio<5|rcp July 1,
to th# t o

of

th# eultoar

mm%h p m m û î m g ^ M

imports ^ I S k b » executed under o&tb before

m

report.

Such

officer duly

authorised to «âalnictcr oath# and »ball ooot»lo all of th«
information called for 1» such forss^
SSC* dO*12*

Agreeaent ylatlas to record®.— ***** paraea

deliverin# wider tb«»« yegulaiio»», silver which ha© bcoa alitad
»ith secondary or foreign «liver, or both, at a »«alter or re­

finery other then t o t of t o per®«® making t o delivery, «hall,
upon repueet by « T % | p # State© cotog# alst or t o Director
of t o tint, also file vitfe each delivery of

®Uv#r a»

agreement properly executed under oath by a duly authorised
officer of such other shelter or reftory, t o t the records
will be kept as provided In t o « # régulations, t o t o t such
records »111 bt available for © x m t o t t o by a r#pr#««uUtiv#
of t o Director of the lint for at leaat 1 year after t o last
delivery . V

Secretary of the treasury*

ase* #0 * %

M r a a t e r of te#

S in t, pttnKMHit te te® mñ-mut o f te# ornar m- g il tm la te s «graamaüt
m acatad m imm fS t-X , t e a l l rétete o f te# aiXir«r aé d e lir a r t i* 45 por
oaet

m

üm Q & m r m m % of

Mdgsdorag« ter earvlcNNi p a r a m a d

faiteé State#, » 4

te#

te# feáteaso# of MKfe » U f a r o© rocairad, that 1«, 55

par CMnt teaveaf» teall a# coíned late

$%mámxé

ü i l w r dollari and te#

aama, o r an aqoal mostear of* otesar ate&dard altear dallare* (or# at te©
optie& of te# e * ® w of te# aitesr »

m$

áeliirarad, altear aartificatee or

otear caia or aarr«B4gr of tea Isíte# flfete- i® a& «masut in «tollero

©%ual te «ste ^tealará altear dallare) símil be t ó l w r e i te te# s ® s r of
«ote altear*
rateumod

fraattenal p n

of ana doXl«x

émm kmmmèmr

Xag&X teador ©oía of te® United gtete»*^

ím

SIC* SO* 10*

&Mio»ùu«~aiiamr p&riwm éaltearlisg a lte a r máwr teaea
pmewm

rag»lat¿on»t and

or eporating a asaltar or raftaacy ai

ehieb a lte a r te fe# dalivareá «ader Umm

i# «ixad wite aacoodary

or foraiia iátear# or tete, gtsali k®#p accorate raeoréa
%

«bali fe#

ateáng. os* otear#!##,

o f all aequlaitteae,

má of all ddapoai'tioae of i&teMe minad mfes#ím#B,tl|'

te falf X, 1939, teoladlííig, m m m g otear telagli, roeosdb of tea date teaa site
sitesr «ma minte, aaqoirod, « i disponte of*
gMirtte for at leaat 1 year after tea laat
oxamismiioii %

Sote raoord» abail fe# pro»

érnlímiy

# r # p r # # » t e t i w #f tea P r o c t e r

of

asci aada avaiX&ttl* far
tea lint opon tea rospaeet

U
of ©ote rapraaaBtete#**

¡Ki§* SO* 11*

Baoar te*«"»te#rY pm te» á^liy#s*issg a lte a r vmÁm? thm&

ragutetloaa te # ll f i l a a lte tea Oiractor o f te# l i n t , on or fe@for# te# 25te
d aj o f oate w H

a fte r te® date te® £ ir# t dalionry la aedaf a ro-

pori m tona TSA-3 ooaaiigg tea praoading aalaodar monte, proaldad

IBKlJ«4t33USD DOMISflO BlW'MJk EMBILAttOBS

Ifltf
lllffe

tv.

.H P f ,W

OF

30* 1939^
$9®, *32

$1 lit

Treasury Department,

Office of the Secretary,
June

30 ,

1939*

Code of federal Emulations
title 31 - Money sad Finance

Chapter X - Monetary Offices
Part 30 - The l«rly-Ml*ied Domestic
Silver Begul at ions of

¡m s 30* 1939

Sec«
80*1 Scope
30*2 Authority for regulations
SO *3 Definitions
$0*4 forms
.SO*5 Revocation or modification
SO*6 Silver which will he purchased
80*7 Affidavits
S0*8 Evidence «fetch may be demanded
80*9 Settlement for silver delivered
80*10 Becords
30*11 Beports
SO*12 Agreement relating to records

/ \

Th* Secretary of the frmmry

~

today i«suedf wider section 4 of

the Act of June 30, 1939, regulations providing for the receipt by tbs
coinage saints of domestic silver mined

subsequently to July

1, 1939*

Depositors win receive 71*11/ cents per troy ounce for such silver*
the regulations read m follows!

¡5

SSCTIOK 80.X.

se<^.--These regulations relate to the receipt

and coinage toy the United States coinage mints of silver mined in
the

United States or any place subject to the jurisdiction thereof

pursuant to the provisions of section 4 of the Act of
1939.*
SgO. 80.8.

Authority for regulations.— these regulations are

Issued under section 4 of the Act of
SgC. 80.3.

Definitions. — As used in these regulations—

fhe term "person” means an individual, partnership, association,

<f%» term "United States coinage mints” means the following mints.
United States Mint, Philadelphia,

Pa.* United States Mint*: San Fran*

cisco, Calif.5 United States Mint, Denver, Colo.

And whenever author­

ity is conferred in these regulations upon a "mint” such authority is
conferred upon the person locally in charge of the mint, acting in ac­
cordance w ith instructions of the Director of the Mint or the Secretary
of the T r e a s u r y . ^

sm.

80.4.

Forms.— Any form, the use of which is prescribed in

these regulations, may be obtained at any United States mint or assay
office or at the Treasury Department, Washington, D. C.*SBC. 80.8.

Revocation or modification.— The provisions of

these regulations may be revoked or modified at any time.

Jfc,

B£$SX~lf2XE& DOMESTIC FILTER REGGLiTIORS
OF | a a S^J

I » **39*

Treasury Department*
Office of the S e c r e t l y ,

1939*
1

Code of Federal Regulations
Title 31 - Mosey sad Finance
Chapter I - M setary Offices
Part SO - The iewly-Miaed Domestic
«*4n
T3£aari*1ss+.1tìtiB 0X

h

Sec*
,4
80*1 Scope
80*2 Authority for regulations
80*3 Definitions
nee
80.4
or modification
80*5

rocation

80*6
80*7

irer which sill he reewiwcd
fidavits
Idonee which may be demanded
silver delivered

80*8
80*9
SO*10 Records

8 0 *11

Reports
80*12 agreement relating to records

1.

tim m t «f Imiy I ß 19$9# r®$ulmUm®

tu t to «Nd#t p 'to

mißt« «3t d o a s t U e a l t o r misai

Att^»«ltor* «1U
nt«

7X#Xl/ «tos ##r ill tor

Tfes r ^ l a t t o s m A

at M h v a t

t« Imi? *t W $ 9 *

^ii~

TREASURY DEPARTMENT
Washington

FOR IlfMEDIATE RELEASE
Thursday, July 6, 1939,#

Press Service
No# lg-17

The Secretary of the Treasury has today issued, under section 4
of the Act of July 6, 1939, regulations providing for the receipt by
the coinage mints .of domestic silver mined subsequently to July 1, 1939*
Depositors will receive 71*11/ cents per fine troy ounce for such silver#
The regulations read as follows:

HHfLY^MXIED DOMESTIC SILVER REGULATIONS
OP JU'LY 6, 1939.

Treasury Department,
Office of the Secretary,
July 6, 1939.

Code of Federal Regulations
Title 31 - Money and Finance
Chapter I - Monetary Offices
Part 80 - The Newly-Mined Domestic
Silver Regulations of
July 6, 1939.

Sec *
80.1
Scope
80.2
Authority for regulat ions
80.3
Definitions
80.4
Forms
80.5
Revocation or modification
80,8
Silver which will be received
80,7 •Affidavits
80,8
Evidence which may be demand©!
80,9
Settlement for silver de liver«
80.10 Records
80.11 Reports
80.12 Agreement relating to •records

SECTION 80.1.

Scope. —

These regulations relate to the receipt

and coinage by the United States coinage mints of silver mined in the
United States or any place subject to the jurisdiction thereof pursuantr
to the provisions of section 4 of the Act of July 6, 1939.
SEC. 80*2.

Authority for r e g u l a t i o n s These regulations are

issued under section 4 of the Act of July 6, -1939.
SEC* 80,3.

D e f i n i t i o n s As used, in these regulations--

The term "person” means an individual, partnership, association,
or- corporation

The term "United States coinage mints" means the following mints:
United States Mint, Philadelphia, Pa.; United States Mint, San Francisco,
Calif.; United States Mint, Denver, Colo,

And. vfhenever authority is

conferred in these regulations upon a "mint" such authority is conferred
upon the person locally in charge of the mint, acting in accordance with
instructions of the Director of the Mint or the Secretary of the Treasury
SEC. SO,4.

Forms.-"-Any form, the use of which is prescribed .in

these regulations, may be obtained at any United States mint or assay
office or at the Treasury Department, Washington, D. C.
SEC, 80,5*

Revocation or modification,— The-provisions of these

regulations may be revoked or modified at any time,
SEC, 80,6,

Silver which will be received,— The United States

coinage mints, under the conditions hereinafter specified, and subject
to the appropriate, regulations gbverning the mints, will receive silver
which any such mint is satisfied has been mined subsequently to July 1,
1939, from natural deposits in the United States or,any place subject to
the jurisdiction thereof.
Such mints will also receive silver which forms a part of a mix­
ture of domestic, secondary, and/or foreign silver provided such mints
are satisfied that' the aggregate amount of such mixture so received, does
not exceed the amount of such, mixture which has been mined subsequently
to July 1, 1939, from natural deposits in the^ United States or any place
subject to the jurisdiction thereof.
SEC. 80.7,

Affidavits.— Every person delivering silver under the

provisions of these regulations shall file with each delivery a properly '
executed affidavit on form TSA-1 and supporting affidavit or affidavits

3

1

of the miner or Miners on form ToA-2 or TSA-2A, whichever is appropriate,
containing.the information called for in such forms and executed under
oath before an officer duly authorized to administer oatha.
oEC. 80,3,

Evidence which may be demanded.— Persons delivering

silver under the provisions of these regulations shall furnish such further
evidence as may from time t o ftime be requested by any United States coinage
mint or the Director of the Mint, including affidavits, sworn reports, and
sworn abstracts from .books of account of any mines or any or all smelters .
or refineries handling such silver,
SEC.

Settlement for silver delivered,— The Director of the

Mint, pursuant to the consent of the owner as given in the agreement exe­
cuted on form TSA-1, shall ‘retain of the silver so delivered, 4-5 per cent"*
as seigniorage^ for services performed

fcy the Government of the United

States,^and the balance of such silver so received, that is,

55

per cent

thereof, shall be coined into standard silver dollars and the same, or an
equal number of other standard silver dollars, (or, at the option of the
owner of the silver so delivered, silver certificates or any other coin
or currency of the United States in an amount in dollars equal to such
standard silver dollars) shall be delivered to the owner of such'silver*
Any fractional part of one dollar due hereunder shall be returned in a n /

.’

legal tender coin of the United States.
SEC. 80,10-,

Jlqcqrds^—

Every-person delivering silver render these

regulations, and every person owning or operating a smelter or refinery at
which silver to be delivered under these regulations is mixed with secondaiy
or foreign silver, or both, shall keep accurate records of all acquisitions,
by mining or otherwise, and of all dispositions of silver mined subsequently

- 4 -

to July 1, 1939,, including, among other things,« records of the date when
such silver was mined, acquired, and disposed of. ,Such records shall be
preserved for at least

1

year after the last delivery and made available

for examination by a representative of the Director of the Mint upon the
request of such representative*
SEC* 80*11. Reports*.— Every perdbn delivering silver under these
^
.
j
regulations shall file with the Director of the Mint, on or before the 25th
day of each'month after the date the first delivery is made, a report on
form TSA-3 Covering the preceding calendar month, provided that the first
report shall cover the period from July 1, 1939, to the end of the calendar
month preceding the date of. the report.

Such reports,''shall be executed

under oath before an officer duly authorised to administer oaths and shall
contain all of the information called for in such form.
\

SEC. 80.12.

Agreement relating to r e c o r d s lEvery person deliver—

ing\mder these regulations, silver which has been mixed with secondary or
\•■
forei^p silver, or. both, at a smelter or refinery other than that of the
person \riking the.delivery, shall, upon request by any United States Coinage"'
\
mint or tne Director of the Mint, a3-So f^Lle with each delivery of such silver
an agreement properly executed under oath by a duly authorized officer of *

\
such other skelter or refinery, that the records will be kept as'"provided
m

these regulations, and that such records will be available for examina­

tion b y a-representative-ofthe Director of the Mint for at least 1 year
after the last c^elivepy.

•

\
\
\

SecretarymDf'liie'l>easuiun,
^

•

\ J

Station

Name

Saax¿

tiaxsaHa»
411 0.
43.1 W*
43.' C.
44. I.
45. A*
46. ! K.

R.
I,
¿.
J.
B*
C.

New York
Chicago
Chicago
Loe Angele«
Hew York
San Francisco

Davis
írey
Kelly
Joroslow
Caswell
Rndd

Total

555
551
54?
543
534
533
3261

White Houle Police
51.
53.
53.
54.
55.
56.

551
546
535
526
534

Washington
Washington
Washington
Washington
Washington
Washlngt on

K. f, Francis
Sari Reynolds
Frank McLaoghlin
Ira L. law
A. K. Keith
T. 0. Tingi.

Total
i '

3184

I

6 1 4 0. J. McNally
63. Harry Sehaetzel
6 3 . i W* A» Primrose
64. C, B. Rich
65. ! W. B* Cline
66, Alex Dvoï$«ky

Hew York
Chioago
Seattle
San Francisco
Kansas City
Rewajfk
Total

y.aUQTOfl

560
549
524
520
515
SOI
3175

,(se q , m

ii

71. 1 R. y. Mansell
72* C. P. H o m o r
73. H. R. Johnson
74. H. W. Arnold
75. |f. A. Base
76* A. S. Swann
§•
1

J

f I.
1 L.
0.
1 J.
1 J,
W.

Total

3138

of Internal R m m e

?
81.
82.
83.
84.
85.
86.

546
543
536
530
496
477

Washlngton
Washington
Washington
. Washington
Washington
Washington

A.
A*
T.
H.
B.
R.

Ross
Barr
Heal
Gardner
O ’Neal
Allen

Washington
Washington
Washington
Washington
Atlanta
Washlngt cm
Total

539
524
464
435
430
413
2785

f S m S U l T DlFARfMOT
Office of the Secretary
Washington, B. 0.
July
Commandant, United State« Coast Guard
Commissioner of Internal xtevenue
Commissioner of Customs
Commissioner of Karcotlasr^x
Chief, Secret Service
I
\
director, Ssur^tei of the Mint
\

, 1939

^
I 'X
I
\
\
\

j

\

i

i
iw
j.
$
'v
m i
^ a result of the preliminary marksmanship matches held
June ¿7, 1939, pursuant'to the Secretary1s Order dated May 15, \
1939, the following officers have been selected to represent the\
services enumerated below in the final matches to be held at
Washington, d, C., beginning August 8, 1939.
Station

game

§SSm

Bureau,.of. Quatara.
Warroad, Minnesota
Panama City, florida
31 Paso, Tesa*
San Juan, Puerto« Bico
los Angeles, California

Arvid Anderson
J . Ï . Harmon
0. £. Gardiner
Jose f « Bua
IST) L. Whitney

577
569
567
567

564
557

1

\

I

fetal

J
1\
!

3401

j
A1 rioholfar.Unit
I

X^2l.\

!>• d. Parker
\ 23. J. M. Schooley
,-^'23. C* w* Buy et to
24. j J. 0. ito at on
35.! K. A. Bennett
\ as.; Philip dross
C

581
Boswell, Hew Mexico
568
Beaver, Colorado
561
Detroit, Michigan
Bailas, lasas L a >u - * C ¿ L A Q 557
Malwighi Mort ft paroltea 17*563
Detroit, Michigan
fetal

z
31.
32.
33.
\
34.
\
35.
36/
\ » /
\x/

1

3369

irean of Mint
0. It. Morris
S. 5. Wadsworth
(fe J . Lambert
h, o. Beppert
S. J. Mosser
L. d. Sanders

Denver, Colorado
Denver, Colorado
San francisco, Calif.
Hew York, S Y.
Philadelphia, Pa.
Denver, Colorado
fötal

1

.

560
560
566
551
547
542
3315

I*
F o r M o n d a y pm* s

t Chie
f T r...e a s u r y A g e n t E l m e r L.
iiinWHTiirT----r~n

I r e y and

h
i

©apt,

H a r r y M,

the members

Dengler,

of t h e

executive

eight teams

officer,

today

s e l e c t e d to

announced

compete next month

f o r t h e flMHtac.. m a r k s m a n s h i p t r o p h y a w a r d e d a n n u a l l y b y
S e c r e t a r y M o r g e n t h a u for

small-arms

proficiency.

p r o g s a m of t r a i n i n g f o r T r e a s u r y D e p a r t m e n t
officers authorized to carry firearms was

The

law enforcement

instituted by

¡n
“

S e c r e t a r y ITirj^jj,,t.hffl^in 1934«
The
Treasury agencies were

six-man teams

f o r the

c h o s e n o n t h e basis

c o u n t r y o n J u n e 27,
in to W a s h i n g t o n and

Coast

Scores were

sent

a team

in the final competitions

d u r i n g t h e w e e k of A u g u s t

the firing has b e e n supervised by
United States

of p r e l i m i n a r y

comparediiFiff'Tfti'rii' so t h a t

c o u l d be c e r t i f i e d f o r e a c h s e r v i c e
at Caipp S i m m s , M d . ,

respective

7*

All of

small-arms experts

o f the

Guard,
The marksmen,

s c o r e s a r e as f o l l o w s :

their

stations

a n d preliminary

TREASURY DEPARTI.ÎEI'T
Washington

Press Service
No# 18-18

FOR RELEASE, AFTERNOON NEWSPAPERS
Monday, July 10, 1939#

Chief Treasury Agent Elmer L* Irey and Capt# Harry M# Dengler, executive
officer, today announced the members of the eight teams selected to compete
next month for the marksmanship trophy awarded annually by Secretary Morgenthau
for small-amis proficiency#

The program of training for Treasury Department

law enforcement officers authorized to carry firearms 7ms instituted by the
Secretary in 1934#
The six-man teams for the respective Treasury agencies were chosen on
the basis of preliminary competitions all over the country on June 27•

Scores

were sent in to Washington and compared so that a team could be certified
for each service in the final competitions at Camp Simms, Md#, during tho
weet; of August 7#

All of the firing has been supervised by small-arms experts

of the United States Coast Guard#
The marksmen, their stations and preliminary scores are as follows:

Bureau of Customs
Arvid Anderson
J# T* Harmon
C# E# Gardiner
Jose F# Rua
W# L# Whitney
George W# Benecke

War road, Minnesota
Panama City, Florida
El Paso,'Texas
San Juan, Puerto Rico
Los Angeles, California
New York, NeYvr York

577
569
567

567
564
557
3401

Total

Aloohol Tax Unit
L# D. Parker
J# M# Schooley
C • W# Huyette
J# C# Harston
E* A# Bennett
Philip Gross

Roswell, N ot/ Mexico
Denver, 'Colorado
Detroit, Michigan
Dallas, Texas
Jersey City, N* J*
Detroit, Michigan
Total

581
565
561
557
553
552
3369

2

Bureau of Mint

C*
S,
W*
L«
E»
L.

L.
S«
J*
0*
J*
D.

Morris
Wadsworth
Lambert
Reppert
Mosser
Sanders

Denver,; Colorado
Denver, Colorado
San Francisco, Calif*
New York, IT# Y.
Philadelphia, Pa*
Denver, Colorado
Total

560
560
555
551
547
542
3315

Narcotics
G.
W*
C*
I«
A.
K.

Ré
E«
J#
J*
D.
C.

Davis
Frey
Kelly
Joroslow
Caswell
Rudd

H e w York, n * Y.
Chicago, ill.
Chicago, til»
Los Angeles, Calif,
fcW York, n . y*
San Francisco, Calif.
Total

555
551
547
542
j?34
532
3261

■White House Police
W, Francis
Sarl Reynolds
Frank McLaughlin
Ira Ü Law
A. K. Keith
T. C. Tingle

Washington,
Yfashington,
Washington,
Washington,
Washington,
Washington,

d *C.
D.C.
D.C.
D.C.
D.C.
D.C.

Total

551
346
335
32a
524
.522
3184

Secret Service
G. J. McNally
Harry Schaetzel
W* A* Primrose
C. B. Rich
W. B. Cline
Alex Dvoretsky

hew York, N. Y.
Chicago , 111*
Seattle , Hash.
San Francisco, Calif*
Kansas'City, Mo*
Newark, N.J*
Total

560
549
524
520
515
507
3175

3

U n i f o m e d Force (Secret Service)
R#
C.
H,
H.
P*
A*

J«
P.
R.
W.
A.
R.

Mansell
Hornor
Johnson
Arno ld
Bass
Swann

Washington^
Washington,
Washington
Washington,
Washington,
Washington,

D.
D.
D.
D.
D.
D,

C,
C•
C*
C*
C»
C.

Total

546
543
536
530
496
477
3128

Bureau of Internal Revenue
E.
L#
0.
J•
J.
W»

A#
A*
T.
N.
B.
E.

Ross
Barr
Ne al
Gardner
0*Neal
Allen

Tíashi ngt on, d •
Washington, D*
Washington' d .
Washington, D*
Atlanta, Gà»
Washington, D*

C»
C*
C*
C#
C*

Total

oOO'

539
524
464
425
420
413
2785

TRMSUKY DSPAlHSraT

WAfíHimTOH
FOR m&feSl, M0M2H& HSSSPAFI8S,
Tenedor, Jfrly 1 1 . 3,33?»......... —
T/10/39

Press Serrica
(T-!9

$be Secratary e f tbe Treaeury announeed last erening that tbe
tendere fbr #100,000,000, or tfaereabonts, of 91-day Treeenry b ilis , to be
datad Jbly 12 and to «atore Oetober 1 1 , 1939, wMch «ere offered oa 3bly 9,
«ere oponed at tbe federal Reaerre benke on July 10.
The detalle of thla leeoe are ae folio«»:
T©1tal applied for
Total aeeepted
R anga

•
•

#BI,668|®00
100,392,000

of aeeepted bidés

High
Low

¿▼ »rege parle»
(f percant of tb» aaooat bid for at tbe lo« prlee «ae aeeepted)

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, July 11. 1939,________
7/10 /39 .

Press Service
No. 18-19

The Secretary of the Treasury announced last evening that the tenders
for $100,000,000, or thereabouts, of 91-day Treasury bills, to be dated July
12 and to mature October 11, 1939, which were offered on July 7, were opened
at the Federal Reserve banks on July 10*
The details of this issue are as follows:
Total appliedfor
Total accepted

-

$259,665,000
- 100,392,000

Range of accepted bids:
High
k°w
Average price

- 10 0 .
- 99.995 Equivalent rate approximately 0.020 percent
- 99.997
«
»
tt
0 .0 12
«

(7 percent of the amount bid for at the low price was accepted)

—

0O 0—

- 2

Jan.l to June 30,1939
fish ; fresh or
FROZEN, FILLETED,
ETC., Cod, Haddock,
Hake, Pollock, Cusk,
Rossfish
(Pounds)

Sept.15,1938 - June 30,1939
WHITE OR IRISH POTATOES
CERTIFIED •
OTHER
SEED
(Pounds)

(Pounds)

TOTAL IMPORTS
Percent of Quota

4,960,872
33.07%

59,758,580
66.40%

1,186,306
1.98%

COUNTRY OF EXPORT
Canada
Other Countries

4,960,872

59,758,580

1,013,360
172,946

CUSTOMS DISTRICT
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Los Angeles
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Ohio
Philadelphia
Pittsburgh
Puerto Rico
Rochester
St. Lawrence
St. Louis
San Francisco
South Carolina
Vermont
Virginia
Washington
Wisconsin

-

619,408
167,450
255
49,089
2,250
303,271
378,991
1,845,297
53,200
171,465
208,280
51,481
53,950
547,425
416,854
3,000
45,020
28,074
16,112

48,960
79,680
8,134,439
5,390,195
242,278
1,591,012
459,080
33,972,702
842,047
23,870
36,356
487,338
117,060
8,312,788
20,775
—

5,200
42,000
2,559
120
98,837
55,680
42,963
2,576
**•
48,430
233,637
**
553,654
“
—

-

960
**
—
2,890
*■
96,800

(Prepared by Division of S tatistics and Research, Bureau of Customs)

PRESS RELEASE
The Commissioner of Customs today announced preliminary figures on imports of
commodities under the quota provisions of the Canadian Trade Agreement, as of June
30, 1939, and the percentage that such imports bear to the totals allowable under the I
quota provisions, as follows:
CATTLE 700# OR MORE
(Other Than Dairy Cows)
Apr.l~June 30 : Jan.1-June 30
(Head)
1939
(Head) : 1939

?
January 1 to June 30, 1939
:
CATTLE •:
: UNDER 200# : WHOLE MILE : CREAM
:
(Head)
: (Gallon) : (Gallen

567
76,706
2,776
60,217
124,149
TOTAL IMPORTS
0.03$
0.093%
76.71%
Percent of Quota
- 2/
-i/
COUNTRY OF EXPORT
152
2,776
48,198
50,964
86,008
Canada
415
38,141
28,508
9,253
Other Countries
CUSTOMS DISTRICT
5
»
•
231
Alaska
16,280
9,106
1,338
Arizona
2,717
27,254
19,098
Buffalo
230
355
Chicago
67
1,354
3,627
5,197
9,898
Dakota
1
39
39
Duluth & Superior
11,176
23,328
3,996
El Faso
7
253
253
Los Angeles
28
920
364
21
Maine & N. H.
11
187
Maryland
1
Massachusetts
4
5
457
6,306
Michigan
4,851
4,376
28,579
Minnesota
13,516
4
35
861
415
Montana & Idaho
26,398
1,784
1,232
New York
312
72
Ohio
1,520
1,520
Omaha
658
Oregon
104
Philadelphia
—
111
Pittsburgh
ni
4
J.Ö
Puerto Rico
8
232
7,491
32
26
St. Lawrence
1,043
4,596
2,991
San Antonio
2
487
669
San Diego
•
5
5
San Francisco
3o
34
637
307
159
Vermont
2.094
7.864
Washington
4.781
1/ The 50,964 head imported from Canada represents 98.54% of the ta r iff rate quota
the second Quarter of the calendar year. The 9,253 head from other countries
cludes 973 head dutiable at the fu ll ta r iff rate, imported subsequent to the i “*
fillment of thè quota of 8,28p head for the second quarter on April 13, 1939.
the trace
2/ The 124,149 head includes 119,244 head dutiable at the reduced rate under
agreement and 4 ,905 head dutiable at the fu ll ta r iff rate.
0

v»
^

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, July 12. 1939,

the

The Commissioner of Customs today announced preliminary figures on imports
of commodities under the quota provisions of the Canadian Trade Agreement, as of
June 30, 1939, and the percentage that such imports bear to the totals allowable
under the quota provi.sions, as follows:
CATTLE 700# OR MORE
(Other Than Dairy Cows)
Apr,1-June 30 : Jah,l-June 30
: 1939 (Head)
1939 (Head)

dlon
567
058^

152
415

67

28

415

8

36
for
full
pad®

press Service
No, 18-20

{ January 1 to June 30. 1939
: CATTLE
:
T
: UNDER 200#: WHOLE MILK: CREAM
(Gallon) :(Gallon)
: (Head)

TOTAL IMPORTS
2 ,7 7 6
76,706
60,217
567
124, H 9
Percent of Quota .....
0.038$
7
6
.
7
1
%
0
.
093
%
_______
_2
/......
-w
COUNTRY OF EXPORT
Canada
50,964
2 ,77 6
48,198
86,008
152
—
Other countries
28,508
38,14.1
9 ,2 53
415
CUSTOMS DISTRICT
—
■M.
Alaska
231
5
—
»
Arizona
1,338
9 ,10 6
16,280
mm
—
Buffalo
19,098
2,717
27,254
—
Chicago
230
355
Dakota
9,898
67
3 ,6 2 7
5,197
1,354
—
—
Duluth & Superior
1
39
39
El Paso
—
—
3,996
1 1 ,1 7 6
23,328
—
Los Angeles
—
7
253
253
Maine & N, H.
11
920
28
21
364
<M
Maryland
187
w*
Massachusetts
1
Michigan
6,306
4,851
457
5
4
—
Minnesota
4,376
13,516
28,579
—
Montana & Idaho
861
4
415
35
New York
_
*.
1 ,2 3 2
26,398
’ 1,784
Ohio
...
72
312
Omaha
—
1 ,5 2 0
1 ,5 2 0
Oregon
•M658
mm
Philadelphia
IO4
«
M
»
—
mm
Pittsburgh
111
—
—
—
Puerto Rico
415
St, Lawrence
26
232
8
32 .
7,491
_
San Antonio
_
4,596
2,991
1,043
San Diego
—
•*»
2
4-87
669
«■ *
San Francisco
5
5
Vermont
159
307
637
36
34
Washington
4.«781
7.864
2,094
y The 50,96-4 head imported from Canada represents 98.54$ of the tariff rate quote
for the second quarter of the calendar year. The 9 ,253 head from other countries
includes 973 head dutiable at the full tariff rate. imported subsequent to the
fulfillment of the quota of 8,280 head for the second quarter on April 13, 1939.
¿J ine 124-,14.9 head includes 119, 244 head dutiable at the reduced rate under the

Jan«l to June 30, 1939
FISH, FRESH OR
FROZEN, FILLETED,
ETC,, Cod, Haddock,
Hake, Pollock,Cusk,
Rosefish
(Pounds)

Sept.15,1938 - June 30,1939
WHITE OR IRIS! POTATOES
CERTIFIED
:
SEED
:
OTHER

(Pounds)

TOTAL IMPORTS
Percent of Quota

4,960,872
59,758,580
33» 07%_____________
66

COUNTRY OF EXPORT
Canada
Other Countries

4,960,872

CUSTOMS DISTRICT
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Los Angeles
Maine & N, H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
Nevf York
Ohio
Philadelphia
Pittsburgh •
Puerto Rico
Rochester
St, Lawrence
Ilf Louis
San Francisco
South Carolina
Vermont
Virginia
Washington
Wisconsin

mm

619,408
167,450
255
49,089
-

2,250
303,271
'378,991
1,845,297

53,200
171,465

59,758,580
—*

48,960

-

547^425
416,854

3,000

45,020
-

28,074

1 6 ,1 1 2

1 ,186,306
________ 1,98*
1,013,360
172,946

5,200
42,000
-

-

79,680
—

2,559

120

8,134,439
—

5,390,195
242,278
1,591,012
459,080

98,837
55,680
42,963
2,576

—

33,972,702

48,430
233,637

842,047

553,654

—

208,280
51,481
53,950
-

: (Pounds)

_

23,870
36,356

—

**

960
_

trnm

—

mm

487,338
' 117 ,0 6 0
8,312,788
20,775
—

2,890
96,800

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
June 30, 1939; under the Cordage Act of 1935, during the period May 1 t© June 30,
1939; *>*»3 the percentage that such imports bear to the totals allowable under the
quota provisions as follows:

Customs District
TOTAL IMPORTS
Percent of Quota
Galveston
Hawaii
Los Angeles
Maryland
Massachusetts
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
San Francisco
Virginia
Washington

:
January 1 to June 30* 1939
«
: UNREFINED
: REFINED
:
SUGAR
: COCONUT OIL : SUGAR
: (Pounds) : (Pounds)
:
(Pounds)

: May 1 - June
30. 1939
:
CORDAGE
:
(Pounds)
:

187,738,685 71,089,580 ‘1,076,644,815 '
60.08#
63.47#
41.91#
.

6,600
2,247,340
3,177,850
34,789,634
33,679,180
103,676,559
3,160,378
44,797
5,449,535
1,056,840
449,972

17,865,182
2,842,307
18,084,758
32,297,333

42,498,760
&Æ 2,055,565
65,154,228
50,174,863
176,679,578
487,968,343
182,739
248,357,566
—
513,290
2,240,806
819,077

362,249
6.04#
45,150
25,456
43,103
•
28,294
1,715
61,690
3,057
*»
m

6,781
139,894
—

7,109

(Prepared by Division of Statistics and Research, Bureau of Customs)

I

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Thursday,, July 13, 1939._______
7 /12 /3 9 .

Press Service
No. 18-21

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 June 30, 1939; under the Cordage Act of 1935* during the period
May 1 to June 30* 1939j and the percentage that such imports bear to the totals
allowable under the quota provisions as follows:

:
Customs District

TOTAL IMPORTS
Percent of Quota
Galveston
Hawaii
Los Angeles
Maryland
Massachusetts
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
San Francisco
Virginia
Washington

:
:

January 1 to June 30. 1939
May 1 - June
UNREFINED :
: REFINED
30,. 1939
COCONUT OIL î SUGAR
SUGAR
:
CORDAGE
(Pounds)
: (Pounds)
(Pounds)
:
(Pounds)
187,738,685
¿1.91%

6,600
2 ,247,340
3,177,850
34,789,634
33,679,180
103,676,559

71,089,580 1,076,644-, 815
60.08$
63.47%

mm
17,865,182
~

2,842,307

42,49S , 760
—

2 ,0 55,565
65 ,15 4 ,2 2 8
50 ,17 4 ,8 6 3
176,679,578
487,968,343
-

3,160,378
44,797
5,449,535
1,056,840
449,972

18,084,750
—
—
»
—

182,739
248,357,566

32 ,297,333

819,077

—

513,290

2 ,240,806

362 ,24.9
6 .04%
45,150
25,456
43,103
-

28,294
1,715

6 1,6 90
3,057
—

6,781
139,894
—

7,109

ALCOHOL TAS UNIT
I

As a result of a continued drive by the Alcohol Tax Unit against

the financial backers of illicit distillery operations, 2,939 defendants
were indicted and 1,982

were convicted and sentenced in conspir­

acy cases involving liquor frauds on the revenue, according to ^report for the
fiscal year ^ Deputy Commissioner of Internal Reveme^He^shire .^During the year, the organized traffic in nontax-paid liquor was dealt mm smash­
ing blows by the successful termination of cases which were of national im­
portance. Convictions in recent cases of major significance involved Charles
and Frank Pellegrino and eighty-two codefendants, New York City; Salvatore
Falcone and twenty codefendants, Utica, N. Y.; Phil Cohen and thirty-one co­
conspirators, Philadelphia; Carlo Gambino and fourteen associates, PhilaW

delohia: and Fox Poley and seventeen codefendants, Camden, N. J.
total of 29,098 prosecutions were recommended^© (bj

Attorneys in

Alcohol Tax cases; 21,554 defendants were indicted, and 18,219 convicted.
i i ^ ^ ^ ^ 0 ^ 5defendants, however, were awaiting grand jury or trial action in
Siederal liquor violation cases as of June 30, 1939.
While total seizures of illicit plants and arrests by Alcohol Tax Unit
investigators rose during the year as compared with the 1938 fiscal period,
it was explained that the increase resulted from a shifting of personnel to
southern states where small violator operations persisted.
Other Alcohol Tax Unit statistics follow:
Seizures and arrests:

Fiscal year ended June 30
1938
1939 1/

Stills seized
Distilled spirits (gallons)
Mash (gallons)
Automobiles
Trucks
Value of property

11,407
344,668
7,553,843
3,730
495
$2,599,999

12,058
324,881
8,075,391
4,109
440
$2,223,750

Number of persons arrested

25,867

28,841

1/ Preliminary.

T

-

2

-

Operation of the counterfeiting gang of Henry Neuwirth, alias
Terhorst, whose plant was seized in New York City with $40,000 in
completed $10 notes, was disrupted during the spring.

Nine men

were arrested and sentences ranging from four to eight years and. _

j

fines from $1,000 to $3,000 were imposed.
The Secret Service won generous commendation from President
Roosevelt, King George V I , C h i e f

Constable Canning of Scotland

Y a rd> and Secretary of State H u l l ^ f o r the efficient manner in
which tfaNflOESS»»supervised the vast throngs during the visit
^
'
of the King and Queen Elizabeth.

The protection extended hjifiÉfce

to the Royal Party was by far the largest endeavor
of that nature in the history of the Service.

Careful apÉnmeQâSS&jP**

preparatory work made possible an exact performance of s c hedulej^

uninnmiOTnni

^
Frankie Parker of Chicago,

t*5 *
former

Jyy
# 0 g § | | H M H M P * Capone ganger and an
accomplice were convictedTih an im/\
«*"
portant counterfeit note
S&JL
ing out of
nC ^ r ^ d u

c ^ 4

*

S t c f t e T

The Seoret Service celebrated its/7 5 tl^&niversary on July 2,
1939, and th<

^ T ^ o r t of Chief Frahk J. Wilson indicates that

during its 75 th year W * investigations M

M

M

l

were carried

on so actively that the record of arrests and convictions far exceeded

any

Arrests for all offenses
r 'Iiii~liiWi»mitrnrt1- were 3,714 in 1939, an all-time high, as com­
pared with 2,963 in 1938*
Convictions reached 3,381 M * an all-time high as compared with
/
y |yg
2,314 in 1938, exceeding the previousfiecord by 804 cases* Acquittals
were obtained in only^j^>f the cases*
During the ^ ^ ¡ & M H W M « M W d E a ^ t h e Service seized $424,193 in
counterfeit notes as compared with $619,290 in 1938.

Losses"4PMK*

through counterfeit notes discovered in the deposits of bank
customers or surrendered by

others was

reducedjjrom $403,843 in 1938 to $296,769 in 1939j
amount of public loss in eight years*

the lowest

Insert

rug^vlola
during the 1939 fisoal year as against 3,206 in the previous period. Arrest!
in th^Baltimore district inoreaaed from 113 to 212 and in the Hew York a m
front 681 to 754. Louisville with
10g#

.amir

te
s
ia
mna arrest deo

and Chicago*
Chicago^with
with a ilmim&t drop from 378 to 29Q,

led cities showing deolines. Hi the Kansas City distriot arrests inoreased
from 223 to 266.
Insert

BUREAU OF NARCOTICS

Increased vigilance to halt prospective supplies of narcotic drugs be­
fore their entry into the United States is portrayed in the report of
Harry J. Anslinger, Commissioner of Narcotics.
CM^i Vw

Seizures made
VJW"

x{i^ L the Bureau of Customs^and- the Coast Guard at ports and borders aggre­
gated 26,675 ounces in the year ended June 30, 1939, as compared-with 5,278
ounces in the 1938 period.

Seizures from internal traffic dropped from

4,354 ounces in 1938 to 3,907 ounces in 1939.
Destruction of marihuana crops in cooperation with other State and
Federal agencies aggregated approximately 26,150 tons and an area of 10,o91
acres.

Bulk marihuana seizures at ports and borders reached 1,500 in the

year as compared with 897 ounces in the nine-month period of the 1938 fiscall
year during which the new legislation was effective.

Seizure of marihuana

seeds dropped to 96 ounces in 1939 as compared with 884' ounces in the ninemonth period of fiscal 1938.
In internal traffic, seizure of bulk marihuana dropped from 17,705
ounces in 1938 (nine months) to 14,228 ounces in 1939; seizure of seeds was
2,715 ounces in 1939 and 2,487 ounces in 1938; cigarette seizures were 40,063
in 1939, as compared with 12,561 in the nine months of the 1938 fiscal year.
louston yrex.j diSor^^t provided jL^aviesu recital pressure against
■yiiâR

H

marihuana, w i i ^ ^ 3 1 arrestraining
iring the

f ^ s c a l y ^ 1* as compared ^ t h

1021

\
-month ¿erio<r Detroit
period. I^ir the
fous nine-i
\
arrests i|d with l ^ j X The Michikaj^m.etropol3r ik 1939 d r o p p e d / 0 107.

in the

¿by i n c j I a M - from 53 X \ 1938 to ^ 37*

^ icaS° d r o n e d from 59 to I

Atlanta \rgtf 30 to\24; Miffneapolis from 31 to 25, and,Seattle from 58 to I

There continues to be a scarcity of crude and smoking opium, as well
morphine, while heroin continues to be the principal drug of addiction.
the heroin seized is highly adulterated.

as

^°s

!

BUREAU OF CUSTOMS

The arrest and conviction of the radio stars, M M M P * B u m s and
JsBB&r Benny, of Mrs« J333P8&* L

a

u

e

r

a

n

d

of

Chapereau provided the highlight in the report of Deputy Commissioner
of Customs Thomas J. Gorman«

Burns and Benny were heavily fined and

given suspended sentences for their part in the smuggling of jewelry
and e:xpensive wearing apparel«
and Chapereau«

Prison terms were imposed upon Mrs« Lauer

-

A
^ I

During the fiscal year narcotic seizures aggregated 902. -a— gain
, while seizures of
smuggled liquor increased by 188 to a total of 3,488«

Seizures of all

kinds were 10,486, an increase of 308 over the previous period«

^7

,Q

The largest single ^rcotic'^ei^tirerims fn“ fei York’’"City, August
14-15, 1938, when 8,293 ounces of smoking opium were recovered from the
river bed at the pier where the British ship GLAUCUS had previously
docked«

As a result of information developed from the GLAUCUS seizure,

the Bureau captured 5,524 ounces of smoking opium from the freighter
SILVERYEVT.
The largest raw opium seizure of the year was made— ic-__
new York: C i t y T i n January, when 123 p<
pounds of
gum were taken in five five-gallon olive oil tins just after the contra­
band was unloaded from the Italian steamship IDA«
The Bureau also cooperated, with the French and British governments
in seizing and imprisoning*

7\

Isaac Leifer«^ for attempting to
— --- * -----------

smuggle into the United States heroin concealed in the bindings ©f Hebrew
prayer books«

In reviewing the work of the law enforcement agencies of the Treasury,
Secretary Morgenthau recalled that coordination of the various branches
c K
x 'k
m s instituted five years ago under the direction of Harold N.Grave* #
qriri referred

-Ifartrelfics
y
'end insert B»

to the splendid cooperative spirit and closely^

Intelligence Unit and the Secret Service,

BHn

-

2

-

•Torrio, who ruled Chicago rackets before the heyday of the Capone
gang, was trailed to New York City.

After ten days of trial,Torrio pleaded

guilty to income tax evasions of $157,693.92 for the years 1933 to 1935,
inclusive.

Torrio vías sentenced to two and one half years in the peniten oL

Emmet Erring, alleged brains of the numbers racket in the District
of Columbia, was sentenced to two and a half years in the penitentiary fol­
lowing conviction for income tax evasion during 1934-35-36.
Charles and Leo were fined $2,500 each.

His brothers

The trial of the brothers was

extensively prolonged when District JuS^jAjdWfc»"prdered a mistrial because
certain jurors had been approached*
In all 114 persons were indicted as the result of investigations by
the Intelligence Unit, and^ 8I^were convicted.

Of those convictedy fines of

$130,000 were imposed and additional taxes and penalties totaling $39,237,830.68 were recommended for assessment.

Insert A

Simultaneous with the Pendergast exposure, Bureaujof Narcotics
3A

officeri

58 members of a narcotics»
Of the leaderaAngelo

Donnioi received prison sentences? t o t a l i n ^ l 3 ^Vears and fines aggregating $
s^whil^
.
$16,0053jAngelo Nigro was sentenced to ten years imprisonment,and is awaitil
trial on other charges» Forty-one

IrnSmm

already

have been convicted#

TREASURY DEPARTMENT
Washington

Press Service
No.
/ T

FOR RELEASE, MORNING NEWSPAPERS
Sunday, July 16, 1939»_________

J

k

Investigations by United States Treasury Agents of income tax evasions
and other frauds against the Government brought prison sentences or heavy
fines to more racketeers and politicians during the 1939 fiscal year than
in any period since prohibition, Coordinator Elmer L. Irey^ reported boday
to Secretary Morgenthau.
taught, in the wave iof penalties against persons attempting to circumvent
f)
Treasury regulations/were a number of business and professional men, wellknovjn figures of the entertainment world and the wife of a New York judge*
¿ f e

1»
JO ©

Sfl
-- —

Intelligence Unit of the Bureau of Internal Revenue,
yk_J)
"•»z s n r ---- Tom J* Pendergast, political "boss

of Kansas City; such racketeers as John Torrio, predecessor and partner o±.
Chicago*s A1 Capone^ and the Yfarring borthers, notorious as leaders of the
numbers racket in the Nation*s Capital«

Enoch L* Johnson, playboy and

political "boss" of Atlantic Citv and Common Pleas Judge Joseph A. Cori©
of Atlantic County, New Jersey, have been indicted for income tax irregu-

< f

larl^ § s- E i 95>

apprehended by the Bureau of Customs L. were George B u m s
and Jack Benny, familiar on screen and radio«

The entertainers were heavily

fined and given suspended sentences, while two o t her^ Mrs« Edgar J« muer,
■wife of a New York judge, and Albert Chapereau^received prison terms«
Pendergast was charged with evasion of $265,465.15 income taxes for
1935 and 1936.

He pleaded guilty and was sentenced to 15 months imprisome j

and fined $ 10,000

TREASURY DEPARTMENT
Washington
Press Service
No, 18-22

FOR RELEASE, MORNING NEWSPAPER
Sunday, July 16, 1939

Investigations by United States Treasury Agents of income tax evasions
and other frauds against the Government brought prison sentences or heavy
fines to more racketeers and politicians during the 1939 fiscal year than
in any period since prohibition, Coordinator Elmer L, Irey reported today
to Secretary Morgenthau*
Caught in the wave of penalties against persons attempting to circumvent
Treasury regulations also were a number of business and professional men, well
known figures of the entertainment world and the wife of a New York judge.
The Intelligence Unit of the Bureau of Internal Revenue, recommended
prosecution of Tom J* Pendergast, political ’’boss" of Kansas City; such
racketeers as John Torrio, predecessor and partner of Chicago*s A1 Capone,
and the Warring brothers, notorious as leaders of the numbers racket, in the
Nation*s Capital*

Enoch L, Johnson, playboy and political "boss” of Atlantic

City, and Common Pleas Judge Joseph A, Corio of Atlantic County, New Jersey,
I

have been indicted for income tax irregularities in 1935*
Simultaneous with the Pendergast exposure, Bureau of Narcotics officers
arrested 58 members of a narcotics gang in Kansas City,

Of the leaders,

Angelo Donnioi received prison sentences totaling thirteen years and fines
aggregating $16,000 while Angelo Nigro was sentenced to ten years imprison­
ment, and is awaiting trial on other charges*

Porty-one already have been

convicted.
Others apprehended by the Bureau of Customs were George Burns and
Jack Benny, familiar on screen and radio*

The entertainers were heavily

fined and given suspended sentences, while two others, Mrs, Edgar J, Lauer,
wife of a New York judge, and Albert Chapereau, received prison terms*

-

2

-

Pendergast was charged with evasion of $265,465*15 income taxes for
1935 and 1936#

He pleaded guilty and was sentenced to 15 months imprisonment

and fined $10,000#
Torrio, who ruled Chicago rackets before the heyday of the Capone gang,
was trailed to New York City#

Af‘
ter ten days of trial, Torrio pleaded

guilty to income tax evasions of $157,693*92 for the years 1933 to 1935,
inclusive#

Torrio was sentenced to two and one half years in the penitentiary#

Emmet Warring, alleged brains of the numbers racket in the District of
Columbia, was sentenced to two and a half years in the penitentiary follow^
ing conviction for income tax evasion during 1934-35-36#
Charles and Leo were fined $2,500 each#

His brothers

The trial of the brothers was ex­

tensively prolonged when District Judge Bolitha Laws ordered a mistrial because
certain jurors had been approached*
In all, 114 persons were indicted as the result of investigations by
the Intelligence Unit, and eighty-one were convicted#

Of those convicted,

fines of $130,000 were imposed and additional taxes and penalties totaling
$39,237,830*68 were recommended for assessment*
In reviewing the work of the law enforcement agencies of the Treasury,
Secretary Morgenthau recalled that coordination of the various branches
was instituted five years ago under the direction of Harold N# Graves,
Assistant to the Secretary, and referred to the splendid cooperative spirit
and closely-knit current operations under Chief Treasury Agent Irey, of the
Alcohol Tax Unit, Coast Guard, Bureau of Customs, Bureau of Narcotics,
Intelligence Unit and the Secret Service#

3
BUREAU OF CUSTOMS

The arrest and conviction of the radio stars, Burns and Benny, of Mrs,
Lauer, and of Chapereau provided the highlight in the report of Deputy
Commissioner of Customs Thomas J# Gorman«

Burns and Benny were heavily fined

and given suspended sentences for their part in the smuggling of jewelry and
expensive wearing apparel#
Chapereau#

Prison terms were imposed upon Mrs# Lauer and

v

During the fiscal year, narcotic seizures aggregated 902 and amounted to
26,675 ounces as compared with 638 seizures amounting to 5278 ounces in the
previous twelve months, while seizures of smuggled liquor increased by 188
to a total of 3,488*

Seizures of all kinds were 10,486, an increase of 308

over the previous period.
The largest single narcotic seizure made in conjunction with the Coast
Guard, was in New York City, August 14-15, 1938, when'8,293 ounces of smoking
opium were recovered from the river bed at the pier where the British ship
GLAUCUS had previously docked#

As a result of information developed from

the GIAUCUS seizure, the Bureau captured 5,524 ounces of smoking opium from
the freighter SILVERYEW#
The largest raw opium seizure of the year was made also at New York City
with Coast Guard aid, in January, when 123 pounds of gum were taken in five
five-gallon olive oil tins just after the contraband was unloaded from the
Italian steamship IDA#
The Bureau also cooperated with the French and British governments in
seizing and imprisoning Isaac Leifer for attempting to smuggle into the
United States heroin concealed in the bindings of Hebrew prayer books#

- 4 -

BUREAU OF NARCOTICS

Increased vigilance to halt prospective supplies of narcotic drugs be­
fore their entry into the United States is portrayed in the report of
Harry J* Anslinger, Commissioner of Narcotics«

Seizures made by the Bureau

of Customs and in some cases in conjunction "with the Coast Guard at ports
and borders aggregated 26,675 ounces in the year ended June 30, 1939, as
compared with 5,278 ounces in the 1938 period»

Seizures from internal traffic

dropped from 4,354 ounces in 1938 to 3,907 ounces in 1939,
Destruction of marihuana crops in cooperation with other State and
Federal agencies aggregated approximately 26,150 tons and an area of 10,391
acres.

Bulk marihuana seizures at ports and borders reached 1,500 in the

year as compared with 897 ounces in the nine-month period of the 1938 fiscal
year during which the new legislation was effective.

Seizure of marihuana

seeds dropped to 96 ounces in 1939 as compared with 884 ounces in the ninemonth period of fiscal 1938*
In internal traffic, seizure of bulk marihuana dropped from 17,705
ounces in 1938 (nine months) to 14,228 ounces in 1939; seizure of seeds was
2,715 ounces in 1939 and 2,487 ounces in 1938; cigarette seizures were 40,063
in 1939, as compared with 12,561 in the nine months of the 1938 fiscal year*
Arrests for narcotic drug law violations shov/ed little ohange, with 3,196
during the 1939 fiscal year as against 3,206 in the previous period.

Arrests

in the Baltimore district increased from 113 to 212 and in the New York area
from 681 to 754*

Louisville, with an arrest decrease from 193 to 106 and

Chicago, with a drop from 378 to 290, led cities showing declines.

In the

Kansas City district arrests increased from 223 to 266*
There continues to be a scarcity of crude and smoking opium, as well as
morphine, while heroin continues to be the principal drug of addiction*
of the heroin seized is highly adulterated*

Most

- 5 SECRET SERVICE

The Secret Service celebrated its seventy-fifth Anniversary on July 2,
1939, and the fiscal year report of Chief Frank J* Wilson indicates that during
its seventy-fifth year investigations were carried on so actively that the
record of arrests and convictions far exceeded that of any earlier period.
Arrests for all offenses were 3,714 in 1939, an all-time high, as compared
with 2,963 in 1938*
Convictions reached 3,381, an all-time high as compared with 2,314 in 1938,
exceeding the previous high record by 804 cases.

Acquittals were obtained in

only three percent of the cases*
During the year the Service seized ¡$424,193 in counterfeit notes as com­
pared with $619,290 in 1938.

Losses through counterfeit notes discovered in

the deposits of bank customers or surrendered by others was reduced from
#403,843 in 1938 to $296,769 in 1939, the lowest amount of public loss in
eight years*
Operation of the counterfeiting gang of Henry Neuwirth, alias Terhorst,
whose plant "was seized in New York City with $40,000 in completed $10 notes,
was disrupted during the spring.

Nine men were arrested and sentences ranging

from four to eight years and fines from $1,000 to $3,000 were imposed.
Frankie Parker of Chicago another fdrmer Capone gangster, and an accomplice
weie convicted in April in an important counterfeit note prosecution growing
out of the "Count” Lustig case*
The Secret Service wen generous commendation from President Roosevelt, King
Ceorge VI, Chief Constable Canning of Scotland Yard and Secretary of State Hull
for the efficient manner in which it supervised the vast throngs during the
visit of t h e King and Queen Elizabeth.

The protection extended to the Royal

Party was by far the largest endeavor of that nature in the history of the
Service*

Careful preparatory work made possible an exact perfomance of schedule.

-

6

-

ALCOHOL TAX UNIT

As a result of a continued drive by the Alcohol Tax Unit against the
financial backers of illicit distillery operations, 2,939 defendants were in­
dicted and 1,982 were convicted and sentenced in conspiracy cases involving
liquor frauds on the revenue, according to the report for the fiscal year of
Deputy Commissioner of Internal Revenue Stev^art Berkshire #
During the year, the organized traffic in nontax-paid liquor was dealt
smashing blows by the successful termination of cases which were of national
importance*

Convictions in recent cases of major significance involved Charles

and Frank Pellegrino and eighty»two codefendants, NeY/ York City; Salvatore
Falcone and twenty codefendants, Utica, H# Y#; Phil Cohen and thirty-one co­
conspirators, Philadelphia; Carlo Gambia/) and fourteen associates, Philadelphia;
and Fox Poley and seventeen codefendants, Camden, N# J#
A total of 29,098 prosecutions were recommended in fiscal !39 to United
States Attorneys in Alcohol Tax cases; 21,554 defendants were indicted, and
18,219 convicted#

More than 15,000 defendants, however, were awaiting grand

jury or trial action in Federal liquor violation cases of June 30, 1939#
While total seizures of illicit plants and arrests by Alcohol lax Unit
investigators rose during the year as compared v/ith the 1938 fiscal period,
it was explained that the increase resulted from a shifting of personnel to
southern states where small violator operations persisted#
Other. Alcohol Tax Unit statistics follow:

Seizures and arrests;
Stills seized
Distilled spirits (gallons)
Mash' (gallons)
Automobiles
Trucks
Value of property
Humber of persons arrested
l/ Preliminary

Fiscal year ended June 30
1939
39 y
1938
19
11,407
344,668
7,553,843.
3,730
495
12,599,999
25,867

12,058
-3241881
8,075,391
4,109
440
$2,223,750
28,841

- 7 -

COAST GUARD

Supervision of the physical transfer of 1,101,320 tars of silver bullion
by the United States Coast Guard from New York City to the Depository at West
Point, N# Y#, without the loss of a single bar, represents one of the major
accomplishments of the Service during the fiscal year, according to the report
of Rear

Admiral R# R# Waesche, Commandant#

Small arms training for the civilian enforcement personnel of the Treasury,
begun by the Coast Guard in 1934, assumed a permanent basis during the fiscal
year with the establishment of sectional headquarters at Boston, New York,
Norfolk, Jacksonville, New Orleans, Cleveland, Chicago, San Francisoo and
Seattle#

Headquarters offices remain at Washington, D# C#

In the fall of 1938, P# M# Chapman, a member of the Coast Guard-trained
Treasury team, vron the Clarke Memorial Trophy Match at Camp Perry, Ohio,
making a score of 291 of a possible 300 points, the highest score ever re­
corded at Camp Perry with a #38 and #45 caliber revolver#
During the year Coast Guard aircraft located 700 illicit distilleries#
Eight aliens were apprehended, and three vessels seized#

Absence of the

old liquor fleet continued, largely through the cooperative efforts of the
Coast Guard with the Royal Canadian Mounted Police#
Approximately 5,000 vessels suspected of carrying narcotics were kept
under surveillance in cooperation with the Bureau

-oOo-

of Customs#

PRESS RELEASE
The Commissioner of Customs announced today that preliminary
reports from the collectors of customs show that entries for
consumption and withdrawals from bonded pastures for consumption
were accepted on July 1, 1939, covering 5,899 head of cattle
weighing 700 pounds or more each, other than dairy cows, from
countries other than Canada*
This total represents 71 »2 percent of the tariff rate quota
on imports of this class of cattle from countries other than
Canada for the third quarterly quota period beginning on that date,
provided for under the quota provisions of the Canadian Trade
Agreement •

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Thursday, July 13. 1939.

Press service
No# iS-23

The Commissioner of Customs announced today that preliminary reports
from the collectors of customs show that entries for consumption and with­
drawals from bonded pastures for consumption were accepted on July 1, 1939,
covering 5,099 head of cattle weighing 700 pounds or more each, other than
dairy cows, from countries other than Canada.
This total represents 71,2 percent of the tariff rate quota on imports
of this class of cattle from countries other than Canada for the third quar­
terly quota period beginning on that date, provided for under the quota pro­
visions of the Canadian Trade Agreement.

— oOo—

TREASURY DEPARTMENT
O FF IC E O F THE S E C R E T A R Y

W A S H IN G T O N

C O M M IS S IO N E R O P
A C C O U N T ? A N D D E P O S IT ?

July 7, 1939.

TO

MR« D U P F I M ) :

During the month of June, 1939» the fol­
lowing market transactions took place in direct and
guaranteed securities of the Government;

Purchases ...................... .

$ 5*03^,600

Sales •«•*•»*»••••••»•»»*•*

3,920,500

Het purchases ••••••«

$ l,llU ,100

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE.
Saturday? July 15, 1939.

Press Service
No, 18-24

Market transactions in Government securities for Treasury investment
accounts in June, 1939, resulted in net purchases of $1,114,100, Secretary
Morgenthau announced today.

-

101—

PRESS RELEASE

The Commissioner of Customs announced today that preliminary
reports from the collectors of customs show imports from Canada of
5,629 head of cattle weighing 700 pounds or more each, other than
dairy cows, during the period July 1 to 8, 1939, inclusive.
This total represents 10.88 /percent of the tariff rate quota
on imports of this class of cattle from Canada for the third quarter
of the current calendar year, provided for under the quota provisions
of the Canadian Trade Agreement.

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Saturday, July 15, 1939.

P ress S e r v ic e

No. 18-25

The Commissioner of Customs announced today that preliminary
reports from the collectors of customs show imports from Canada of
5,629 head of cattle weighing 700 pounds or more each, other than
dairy cows, during the period July

1

to

8,

1939, inclusive.

This total represents 10.88 percent of the tariff rate quota
on imports of this class of cattle from Canada for the third quarter
of the current calendar year, provided for under the quota provisions
of the Canadian Trade Agreement.

— 0O0—

fgSáS&sT mvà&tiamr

FOR RKL 8 ÄSI, IID^IKG 8 l % S P i m »

Servios

Tnssday» foiy iB,..,i_9gg»------

\Ç- SI

f / W »

!

Tke Secretary of the Treasury announced loot evening that ths
tenders for #100900090009 or thereabout#» of 91-day Treasury bill#, to be
dated July It and t© nature October 189 1959» which were offered on July 14»
were opened at the federal Reserve beaks on Jfcly IT.
fhe details of this issue are as follows:
Total applied for * $899,480»OOO
Total accepted
- 100,861»000
Range of aoeepted bides
High
low
Average pries

*

•
«

100*
99*995
99*994

Equivalent rate approximately 0.080 percent
»
•
»
0*015
*

(57 percent of the amount bid for at the low price was aoeepted)

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS
Tuesday« July 18, 1939«_______
7/37/39.

Press Service
No. 18-26

The Secretary of the Treasury announced last evening that the
tenders for $100,000,000, or thereabouts, of 91-day Treasury bills,
to be dated July 19 and to mature October 18, 1939, which were offered
on July 14* were opened at the Federal Reserve banks on July 17«
The details of this issue are as follows;
Total applied for - $299,680,000
Total accepted
- 100,861,000
Range of accepted bids;
High
Low
Average price

(37

- 100.
- 99*995
- 99*996

Equivalent rate approximately 0,020 percent
"
"
»
*
0,015
11

percent of the amount bid for at the low price was accepted)

— oOo—

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF

Name and Location of Bank:

Date of
Failure :

First National Bank
Rialto, Calif.

8-2-33

First National Bank
Monticello, III. 1/

Total
Dis burs ements
Including
Offsets Allowed:

Per Cent
Total Dis­
bursements
to Total
Liabilities:

Per Cent
Dividend
Declared
to All
Claimants :

Capital
Stock at
Date of
Failure :

Cash, Assets
Uncollected Stock
Assessments, etc.
Returned to share­
holders :

$ 511,795.00

70 .315s

12.4$

1 7 5 ,000.00

000

1-12-34

824 ,205*00

10 9 .425s

111.5$

150 ,000.00

342,742.00

First National Bank
Naperville, 111.

4-27-34

690,572.00

9 7 .03#

94.85#

7 5 ,000.00

000

State National Bank
Peru, 111.
1/

1-12-34

1 ,7 4 7 ,643.00

10 6 .72 $

10 9 .28$

150 ,000.00

325,148*00

Quincy-Ricker N a t ’l Bank
& Trust Co.
Quincy, 111.

1 1 -10-30

3 ,295 ,333.00

7 9 .05#

7 2 .12 $

500 ,000.00

First National Bank
Urbana, 111.

3-13-34

672,772.00

78.40$

64 .95 #

50 ,000.00

First National Bank
Richmond, Mich.

11-6-33

778,037*00

9 7 .03#

96.05$

50 ,000.00

First National Bank of
Custer City, S. D.

11-17-31

12 8 ,887.00

76.84$

57*7$

2 5 ,000.00

1/

Shareholders* Agent elected to continue liquidation after payment by Receiver of p r ÿ c j j f e î r > n j ^ ^
interest, i n fnl! to creditors.

000

TREASURY DEPARTMENT
Comptroller of the Currency
Washington
FOR RELEASE, MORNING NEWSPAPERS

(aJ
n\ifrf%*) P:

I

K ^ I^ 3 T

During the month of June 1939, the liquidation of eight receiverships
was completed and the affairs thereof finally closed.
of

1 ,3 2 2

This makes a total

receiverships finally closed or restored to solveny since the

Banking Holiday of March, 1933»
Total disbursements, including offsets allowed, to depositors and
other creditors of these

1 ,3 2 2

receiverships, exclusive of the fbrty-two

restored to solvency, aggregated

1 5 7 7 ,4 3 7 ,3 9 1 .00 ,

or an average return

of 81.Q per cent of total liabilities, while unsecured creditors received
dividends amounting to an average of

68 ,4.2

per cent of their claims.

Dividends distributed to creditors of all active receiverships during
the month of June, 1939, amounted to $>1,010,923*00.

Total dividends paid

and distributions to depositors of all receiverships from March 16, 1933,
to June 30, 1939, amounted to 1943,479,381.00.

Data as to results of liqui­

dation of receiverships finally closed during the month are, as follows:

TREASURY DEPARTMENT
Comptroller of the Currency
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Wednesday, July 19« 1939.______
7/18/39.

Press Service
No, 18-27

During the month of June, 1939, the liquidation of eight receiver­
ships was completed and the affairs thereof finally closed.
a total of

1 ,3 2 2

This makes

receiverships finally closed or restored to solvency

since the Banking Holiday of March, 1933.
Total disbursements, including offsets allowed, to depositors and
other creditors of these

1 ,3 2 2

receiverships, exclusive of the forty-two

restored to solvency, aggregated $577,437,391#00, or an average return
of 81,0 per cent of total liabilities, while unsecured creditors received
dividends amounting to an average of

68,42

per cent of their claims#

Dividends distributed to creditors of all active receiverships
during the month of June, 1939, amounted to $1,010,923.00.

Total divi­

dends paid and distributions to depositors of all receiverships from
March 16, 1933, to June 30, 1939, amounted to $943,479,381,00.

Data

as to results of liquidation of receiverships finally closed during
the month are, as follows:

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OE EESTOEED TO SOLVENCY DUE INC THE MONTH OE
___________________ JUNE, 19^9__________________________ _

Name and Location of Bank:
First National Bank
Rialto, Calif.
First National Bank
Monticello, 111. 1/
First National Bank
Naperville, 111.
State National Bank
Peru, 111.
1/
Quincy-Ricker Nat *1 Bank
& Trust Co.
Quincy, 111.
First National Bank
Urbana, 111.
First National Bank
Richmond, Mich.
First National Bank of
Custer City, S. D.

1/

Total
Disbursements
Including
Offsets Allowed:

Per Cent
Total Dis­
bursements
to Total
Liabilities :

5 1 1 ,795.00

7 O. 3 I#

12.4#

I-I 2-3 I*

824,205.00

109.42#

1 1 1 .5 #

4-27-34

690,572.00

9 7 .03#

1 - 12 - 31*

1»7^7.643.00

1 1 - 10-30

Date of
Failure:

8-2-33

$

Per Cent
Dividend
Declared
to All
Claimants :

Capital
Stock at
Date of
Failure:

$

7 5 ,000.00

Cash, Assets
Uncollected Stock
Assessments, etc.
Eeturned to share­
holders:

$

000

15 0 ,000.00

342 ,71*2.00

94.85#

7 5 ,000.00

000

IO6 .72 #

109 .28 #

150 ,000.00

3 2 5 ,11*8.00

3,295.333.00

79.05#

7 2 .12 #

500 ,000.00

000

3 - 1 3 -3 ^

672,772.00

78.40#

6 U.95 #

50 ,000.00

000

6-33

77S,037.00

97.03#

96 .05 #

50 ,000.00

000

12 8 ,887.00

76.84#

57.7#

2 5 ,000.00

000

n-

II-I7 -3 I

Shareholders* Agent elected to continue liquidation after payment hy Eeceiver of principal and
interest in full to creditors.

PRESS RELEASE

The Commissioner of Customs announced today that preliminary
reports from the collectors of customs show that entries for consumption
and withdrawals from bonded pastures for consumption covering 6,412
head of cattle from countries other than Canada weighing 700 pounds
or more each, other than dairy cows, were accepted during the period
July 1 to 8 , 1939, inclusive.
This total represents 77.4 percent of the tariff rate quota on
imports of this class of cattle from countries other than Canada for
the third quarter of the current calendar year, provided for under the
quota provisions of the Canadian Trade Agreement.

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Wednesday, July 19, 1939»

Press Service
No, 18-28

The Commissioner of Customs announced today that pre­
liminary reports from the collectors of customs show that entries
for consumption and withdrawals from bonded pastures for consump­
tion covering

6 ,4 12

head of cattle from countries other than

Canada weighing 700 pounds or more each, other than dairy cows,
were accepted during the period July 1 to

July

8,

1939, inclusive.

This total represents 77,4 percent of the tariff rate
quota on imports of this class of cattle from countries other
than Canada for the third quarter of the current calendar year,
provided for under the quota provisions of the Canadian Trade
Agreement,

-— oOo—

Coast Guard Headquarters
Washington, D. C.y
July 21, 1939.
PBESS RELEASE
Coast Guard Headquarters announced

that the Coast Guard Cutter

SHOSHONE stationed at Oakland, California, has been transferred to the United
States Maritime Service for duty at the Maritime Service Training Station,
Alameda, California, replacing the Coast Guard Cutter NORTHLAND which has “been
returned to the Coast Guard for duty with the Antarctic Expedition.
The SHOSHONE, a 250-foot cutter was “built in Oakland, California in 1930,an
is a turbine electric powered vessel, having a speed of 16.5 knots.

It is belie

that the SHOSHONE will afford the Maritime Service unequalled fa c ilitie s for
training the licensed officers and unlicensed personnel of the Merchant Marine
on the West Coast.
The United States Maritime Service, which was organized by the United State
Coast Guard and administered for the United States Maritime Commission since
Ha ¿

September 6, 1937, has under training up to and including July 17, 1939, 1,652
licensed and unlicensed personnel.

Of this number only 328 have failed to com­

plete the three months' probationary course in training.

The enróllese were dis

tributed in the various merchant marine grades as follows!
Licensed Licensed Unlicensed
Unlicensed
Unlicensed

Deck........................ 171
Engineers............... 166
- Deck.• • • • ............ 519
- Engineers.......... 543
- Stewards.. . . . . . . . 253
TOTAL 1,652

To date more than 6,000 applications have been received from Merchant
Marine personnel for training in the United States Maritime Service.

* * * * * * * * *

‘
TREASURY DEPARTMENT
U,S. Coast Guard
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Saturday, July 22. 1939,________
7 /2 1 /3 9 .

Press Service
N o - l8 ~29

Coast Guard Headquarters announced today that the Coast Guard Cutter
SHOSHONE stationed at Oakland, California, has been transferred to the
United States Maritime Service for duty at the Maritime Service Training
Station, Alameda, California, replacing the Coast Guard Cutter NORTHLAND
which has been returned to the Coast Guard for duty With the Antarctic
Expedition«
The SHOSHONE, a 250-food cutter was built in Oakland, California
in

1930 ,

knots.

and is a turbine electric powered vessel, having a speed of 16*5

It is believed that the SHOSHONE will afford the Maritime Service

unequalled facilities for training the licensed officers and unlicensed
personnel of the Merchant Marine on the West Coast*
The United States Maritime Service, which was organized by the
United States Coast Guard and administered for the United States Maritime
Commission since September

6,

1937, has had under training up to and

including July 17, 1939, 1,652 licensed and unlicensed personnel.
number only

328

Of this

have failed to complete the three months * probationary

course in training.

The enrollees were distributed in the various merchant

marine grades as follows 1
Licensed Licensed Unlicensed
Unlicensed
Unlicensed

Deck
171
Engineers *,,,••• 166
— Deck ••«•»..«•
519
- Engineers ••••, 5-43
— Stewards •,,«•, 253
TOTAL
1,652

To date more than 6,000 applications have been received from Merchant
Marine personnel for training in the United States Maritime Service,
-roOo—

% u

or ia part, to a lle i I m o ita * tbe aaeunt of notes oppile* fM , to «ake

allotwaeta la f a ll open applieatioms for » U s r assunta and to moke rodneed all©*- I
arata upon, or to rejeet, application» for largor «sonato, or to «dopt any or all ofl
raid stttaS# or «osi f l i t ? taetfcods of allotnaat end ol&sslf icatlcm of allotaent» t« I
ofeall ba de«aed by bla to ba la tba publlo intoreat; and bla aotloa la aay or all oli
tboeo respoets abolì ba fin si.

Ulotsaat aotloa» w ill ba sant ©ut p ro ib ir upon

allotaast, aad tba basta of tbe allotssaat w ill ba publicly annoimoad.
m

1.

i « «

Faraoni et par aad acornad latareat, If any, for sotea allottad bartender

aaat ba sodo or eo&pleted oo or boforo August 1, 19S9, or oa la ter allet&ent.

la

avery oaaa whare paynent la not ao coapleted, tba peysent wltb application up to
10 paroaat of tba aaarast of notas applied for aball, npoa daolaratioa aada by tha
Seeretary ©f tba Traaaury in bla dlaeratloa, ba forfaitad to tba United Stata».

V.
1.

« ® M L PHDTOIO!©

A» fiscal ageata of tba United Statai, Federai Reeerve banka ara aotboriiN

ani recuestad to raaalTa sub acri pilone, to wafca allottasi» on tba beala and ap to
tba anounta lsdlcated by tba Seeretary of tba Traaaury to tba Federai Reserva basic»
of tba respaetive diatrleta, to laaua allotaent notloaa, to recaive paynent for
nota» allottad, to aeke delivery ©f no tea oa fnll-peid subaariptlona allottad, ani
tfcey aay la sue intarla racaipto pasáis« delivery of tba definitiva notes.
2,

t*& seeretary of tba freeaury aey at any tiaa, or fren tima t© tiaa, pre­

scriba aupplamantal or aaandatory rulaa and regulatiene governing tba of ferine,
»hieb will ba eoaamnleated proaptly to tba Federai Haaarva banka.

H

I R .,

Seeretary of tba Treasury.

fe# accepted as security for all fiduciary, trust, and publie fuads the imvestassnt or
deposit

of

which shall fee under

the

authority

or

control of the Waited States or

any

officer or officers thereof*
$•

Th»

authorising act further prorides that in the event the Commodity Credit

Corporation shall fee unable to pep upon demand, when due, the principal of, or la*
terosi on, such obligations, the Secretary of the Treasury shall pay to the holder
the amount thereof idbdeh is authorised to fea appropriated, out of any nosey in the
Treasury not otherwise appropriated, and thereupon to tho extent of the amount so
paid the Secretary of the Treasury shall suecesd to all the rights of the holders
of such obligations*
4*

Bearer notes with Interest coupons attached will fee Issued in denominations

of |1 ,000, |S,000, $10,000 end #100,000.

The notes will not be issued in registered I

form.
IH .
1.

»

»

I

ASP ALLOnCTT

Subscriptions will fee received at the foderai Reserve banks and branches

and at the Treasury Department, Washington.

Banking institutions generally may sub­

mit subscriptions for account of customers, but only the Federal Reserve banks and
the Treasury Department ere authorised to act ee official agencies*

Others than

banking institutions will not fee permitted to eater subscriptions except for their
own account.

Subscriptions from banks and trust companies for their

orna, account

will be received without deposit but will be restricted in each case to an amount
not exceeding one-half of the combined capital and surplus of the subscribing bank
or trust company*

Subscriptions from all others must be accompanied by payment of

10 percent of the amount of notes applied for.

The Secretary of tías Treasury re­

serves the right to close the books as to any or all subscriptions or classes of sub
scriptions st any time without matice.
g.

Tbs Secretary of the Treasury reserves the right to reject any subseriptioBj

4

oammvft citoit (sommanm
n/B

PSRGEST HOTO 0F S15SIBS D, DUS A0GOST 1 , 1941

Dated and hearing interest from Àugust 1, 1959
m i T

AUD USCOiDITÎOSàlXT

GUABABTSID BOffi AS TO Iffi®! AMD M K I » BT
S T A T O , 1KICH GUABASTT IS SXPBSSSH) O H TBS FACÎ OF SACH W0T2

TEK TO?3|

Sxeapt botto a» to principal and interest frai all Federal» State, municipal, and lot
taxation (exeept surtaxes, estate, inherit ance, and gift taxes)

1959
Department Circolar Mo. 917
____

TREASUKT DXPAHTMSHT,
Office of ttoe Secretary,
Washington, Jbly 24, 1939* I

m i l e Debt Servi ce
Z.
1*

OFFKRIHO OF HOTO

Ttoe Secretary of ttoe Treasury, on toehalf of ttoe Coasaodity Orodit Gorpora- !

tlon» invite® subscriptionc, et per and aecrued interest, frai ttoe people of ttoe
United Statee fer notes of ttoe Coanodity Crédit Corporation, daslgnatod 5/9 percent
notes of Series D.

The anottet of ttoa offering le $900,000,000, or ttoereabouts.
il.

1.

nmmmm of h c t o

T O notas will toe datad August 1, 1959, and w l U bear interest frai ttoat

date et ttoe rate ef 9/8 percent per amasa» payable eeaienimally on Fèbntary 1 and
August 1 in eaeto yeer unt il ttoe principal aaount beeoaes payable,

Ttey will » a t a r e

August 1, 1941, and will not be sabjeet to sali for redeaption prior to a&tarity.
2.

Ttoese notes are Itasi nadar ttoe auttority of ttoe aet approvai Barato 8»

1938» (Public Ho. 442~?5th Congreso) wtoleto providee ttoat ttoeae notes stali bs fully
and uneondltlcmally gnaranteed botto ne to interest and principal by ttoe United
States; ttoat ttoey stali be decaed end toeld to be inetnxaentalltles of ttoe Governa®»
of ttoe United States, and as sncto ttosy and ttoa incoas derivad ttoerefrom stali be
exempt frai Federal» State» municipal, end local taxation (exeept surtaxes» estât®,
Interitance, and gift taxes); and ttoat ttoe notas stoall be lawful investi»nts and a»!

-8 -

stricted in each ease to an amount not exceeding one-half of the
combined capital and aurplue of the subscribing bank or trust
company.

Subscriptions from all others must be accompanied by pay­

ment of 10 percent of the amount of notee applied for.

The right is reserved to oloae the hooks as to any or a ll
subscriptions or classes of subscriptions at any time without notice.
Subject to the reservations sat forth in the o ffic ia l circular, a ll
subscriptions w ill bs received subject to allotment.

Payment for

any notes allotted must be made or completed on or before August 1,
1939, or on later allotment.
The text of the official circular follows:

TREASURY DIPARTOÏNT
Washington

PC® SSLEAS*, MORNING SEWSPAPSRS,

Pr*M s^ rjTl°*
i f

MonAar, Julr 24, 1939.
7/22/39

The Secretary of the Treasury, on behalf of the Commodity
Credit Corporation, le today offering for aubeerlption, at par and
accrued interest, through the Federal Reserve banks, 9200,000,000,
or thereabouts, of 2-year note« of the Commodity Credit Corporation,
designated 8/0 pareeat notes of Series D.

The notes w ill be dated

August 1, 1939, and w ill bear Interest from that date at the rate of
8/8 peroent per annum payable semiannually.

They w ill mature August

1, 1941, and w ill not be subject to c a ll for redemption prior to
maturity«

The notes w ill be fu lly and unconditionally guaranteed both
as to interest and principal by the United State«.

They w ill be exempt

both as to principal and interest from a ll Federal. State, municipal, end
local taxation (exoept «urtarne«, estate, inheritance, and g ift taxes).
The notes w ill be leaned only in bearer form with coupons at­
tached, in denominations of 11.000. *8,000, *10,000 and *100,000.
Subscriptions will be reoeired at the Federal Reserre banks
and branches, and at the Treasury Department, Washington.

Subscriptions

will not be repaired at the Commodity Credit Corporation.

Banking

institutions generally may submit subscriptions for account of customers,
but only the Federal Reserre banks and the Treasury Department era authorize
to aot aa official agendas.

Subscriptions from banks and trust companies

for their own account will be repaired without deposit, but will bs re-

TREASURY DEPARTMENT
Washington

Pt g ss Service

FOR RELEASE, MORNiNG NElISPAPERS,
Mpnday^JiiIy 24. 1939._______ __

No. 18-30

Tho Secretary of the Treasury, on behalf of the Commodity Credit
Corporation, is today offering for subscription, at par and accrued
interest, through the Federal Reserve banks, $200,000,000, or there­
abouts, of 2-year notes of the Commodity Credit Corporation, designated
5/8 percent notes of Series D.

The notes will be dated August 1, 1939,

and will bear interest from that date at the rate of
annum payable semiannually*

5/8

percent per

They will mature August 1, 1941, and will

not be subject to call for redemption prior to maturity.
The notes will be fully and unconditionally guaranteed both as to
interest and principal by the United States*

They will be exempt both

as to principal and interest from all Federal, State, municipal, and
local taxation (except surtaxes, estate, inheritance, and gift taxes).
The notes will be issued only in bearer form with coupons attached
in denominations of $1 ,000 , $ 5 ,000 , $10,0 0 0 and #10 0 ,000 .
Subscriptions m i l be received at the Federal Reserve banks and
branches, and at the Treasuxy Department, Washington.

Subscriptions

will not be received at the Commodity Credit Corporation*

Banking in­

stitutions 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.

Subscriptions from banks and

2

-

trust companies for their own account will be received without deposit,
but will be restricted in each case to an amount not exceeding one-half
of the combined capital and surplus of the subscribing bank or trust
company.
of

10

Subscriptions from all others must be accompanied by payment

percent of the amount of notes applied for*
The right is reserved to close the books as to any or all sub­

scriptions or classes of subscriptions at any time without notice.
Subject to the reservations set forth in the official circular, all
subscriptions will be received subject to allotment.

Payment for any

notes allotted must be made or completed on or before August 1, 1939
or on later allotment.
The text of the official circular follows:

COMMODITY CREDIT CORPORATION
5/8 PERCENT NOTES OF SERIES D, DUE AUGUST 1,1941
Dated and bearing interest from August 1,1939
FULLY AND UNCONDITIONALLY GUARANTEED BOTH AS TO INTEREST AND PRINCIPAL BY THE
UNITED STATES, WHICH GUARANTY IS EXPRESSED ON THE FACE OF EACH NOTE

Exempt both as to principal and interest from all Federal, State, municipal,
and local taxation (except surtaxes, estate, inheritance, and gift taxes)

!939
Department Circular No# 617
____
Public Debt Service

TREASURY DEPARTMENT,
Office of the Secretary,
Washington, July 24.,1939.

I.
1#

OFFERING OF NOTES

The Secretary of the Treasury, on behalf of the Commodity Credit Cor­

poration, invites subscriptions, at par and accrued interest, from the people
of the United States for notes of the Commodity Credit Corporation, designated
5/8 percent notes of Series D#

The amount of the offering is $200,000,000, or

thereabouts#
II# DESCRIPTION OF NOTES
1#

The notes will be dated August 1, 1939, and will bear interest from

that date at the rate of 5/8 percent per annum, payable semiannually on February
1 and August 1 in each year until the principal amount’becomes payable#

They

will mature August 1, 1941, and will not be subject to call for redemption prior
to maturity.
2.

These notes are issued under the authority of the act approved March

1938, (Public No. 44-2-75th Congress) which provides that these notes shall be
fully and unconditionally guaranteed both as to interest and principal by the
United States| that they shall be deemed and held to be instrumentalities of
the Government of the United States, and as such they and the income derived

8,

2
therefrom shall be exempt from Federal, State, municipal, and local taxation
(except surtaxes, estate, inheritance, and gift taxes )| and that the notes shall
be lawful investments and may be accepted as security for all fiduciary, trust,
and public funds the investment or deposit of which shall be under the authority
or control of the United States or any officer or officers thereof*
3.

The authorizing act further provides that in the event the Commodity

Credit Corporation shall be unable to pay upon demand, when due, the principal
of, or interest on, such obligations, the Secretary of the Treasury shall pay
to the holder the amount thereof which is authorized to be appropriated, out of
any money in the Treasury not otherwise appropriated, and thereupon to the ex­
tent of the amount so paid the Secretary of the Treasury shall succeed to all
the rights of the holders of such obligations*
4.

Bearer notes with interest coupons attached will be issued in denomina­

tions of $1,000, $5*000, $10,000 and $100,000,

The notes will not be issued in

registered form,
III.
1.

SUBSCRIPTION AND ALLOTMENT

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.

Others

than banking institutions will not be permitted to enter subscriptions except
for their own account.

Subscriptions from banks and trust companies for their

own account will be received without deposit but will be restricted in each case
to an amount not exceeding one-half of the combined capital and surplus of the
subscribing bank or trust company.

Subscriptions from all others must be accom­

panied by payment of 10 percent of the amount of notes applied for. The Secretary
of the Treasury reserves the right to close the books as to any or all subscrip­
tions or classes of subscriptions at any time without notice.

3
2«

The Secretary of the Treasury reserves the right to reject any sub­

scription, in whole or in part, to allot less than the amount of notes 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 all of said methods or such other methods of allotment and clas­
sification of allotments as shall be deemed by him to be in the public interest^
and his action in any or all of these respects shall be final.

Allotment no­

tices will be sent out promptly upon allotment, and the basis of the allotment
will be publicly announced.
IV.
1*

PAYMENT

Payment at par and accrued interest, if any, for notes allotted here­

under must be made or completed on or before August 1, 1939, or on later allot­
ment.

In every case where payment is not so completed, the payment with appli­

cation up to

10

percent of the amount of notes applied for shall, upon declara­

tion made by the Secretary of the Treasury in his discretion, be forfeited to
the United States.
V.
1#

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 banks of the respective districts, to issue allotment notices, to receive
payment for notes allotted, to make delivery of notes on full—paid subscriptions
allotted, and they may issue interim receipts pending delivery of the definitive
notes.
2.

The Secretary of the Treasury may at any time, or from time to time,

prescribe supplemental or amendatory rules and regulations governing the offering
which will be communicated promptly to the Federal Reserve banks.
HENRY MORGENTHAU, JR.,
Secretary of the Treasury©

PRESS RELEASE

The Commissioner of Customs announced today that preliminary
reports from the collectors of customs show that entries for con­
sumption and withdrawals from bonded pastures for consumption of
cattle weighing 700 pounds or more each, other than dairy cows,
have been accepted covering 14,790 head from Canada and 6,442
head from other countries, during the period July 1 to 15, 1939.
This total from Canada represents 28,6 percent and that
from other countries 77*8 percent of the tariff rate quotas on
imports of this class of cattle for the third quarter of the
current calendar year, provided for in the Canadian Trade
Agreement

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE ,
Saturday, July 22, 1939.

Press Service
No. 18-31

The Commissioner of Customs announced today that preliminary
reports from the collectors of customs show that entries for consump­
tion and withdrawals from bonded pastures for consumption of cattle
weighing 700 pounds or more each, other than dairy cows, have been
accepted covering 14-j790 head from Canada and

6 ,4-4*2

head from other

countries, during the period July 1 to 15, 1939.
This total from Canada represents 28.6 percent and that from
other countries 77.8 percent of the tariff rate quotas on imports of
this class of cattle for the third quarter of the current calendar
year, provided for in the Canadian Trade Agreement.

— oOo—

TREASURY DEPARTMENT
WASHINGTON
m

release,

gffigi

mmim redpapers,

**T,SLJ£L ------

vtbbb same«
'Vu.<fr - zi

Secretary o f «to Treasury Morgenthau announced last night that
the subscription hooks for the current offering of 5/8 percent notes
of Serles D of the Comaodity Credit Corporation closed at the close of
business Monday, July 24«
Subscriptions addressed to a Federal Reserve bank or branch, or
to the Treasury Department, and pieced in the mail before 12 o*clock,
midnight, Monday, July 24, s i l l he considered as having been entered
before the close o f the subscription books*
Announcement of the amount of toubseriptlons and the basis of

alletmsnt s i l l probably ba mads on Thursday, Jfcly 27.

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, July 25, 1939»_______
7 /24/39 .

Press Service
No. 18-32

Secretary of the Treasury Morgenthau announced last night that
the subscription books for the current offering of

5/8

percent notes

of Series D of the Commodity Credit Corporation closed at the close
of business Monday, July 2-4*
Subscriptions addressed to a Federal Reserve bank or branch,
or to the Treasury Department, and placed in the mail before 12 o ’clock,
midnight, Monday, July 24, will be considered as having been entered
before the close of the subscription books.
Announcement of the amount of subscriptions and the basis of
allotment will probably be made on Thursday, July 27.

•o0o<

TRI&STFKT BSPAiTOSN1?
lushington
Press Service

fOR M S 0 1 , 1IOERX1I0 H1WAP8RS,
Tuesday» Jhlv 28» 1959.

1f

“

"-2

7/84/59

Secretary of the Treasury anaoaaeed last evening that the tenders
for »100,000,000, or «»reabont», of 91-day Treasury M il» , to to dated July
£6 and to nature October 89, 1989, «Mob wore offered on Jbly 81, ware opered
at the federal Reaene banks on July 24.
fhe details of this issue are as follows:
Total applied for
Total accepted

• $240,195,000
«* 100,840,000

of accepted bids:
High

Low
Average priee

m

100 *

j

- 99.999 Bquiralent rate approxloately 0.08* perewl
_ 99.995
•
*
*
0.019

(SS percent of the anount bid for at the low price wa* accepted)

/

TREASURY

DEPARTMENT

Washington

FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, July 25, 1939._______
7/24/39.

Press Service
No. 18-33

The Secretaiy of the Treasury announced last evening that the tenders
for $100,000,000, or thereabouts, of 91-day Treasury bills, to be dated
July 26 and to mature October 25, 1939, which were offered on July 21, were
opened at the Federal Reserve banks on July 24..
The details of this issue are as followss
Total
Total

applied for
accepted

Range

of accepted bids;

High
Low
Average price

(22

percent

- $24.0,195*000
- 100,240,000

- 100.
- 99.994- Equivalent rate approximately 0.024, percent
- 99.995
M
"
w
0.019
"
of the amount bid for at the low price was accepted)

•oOo-

rm sm r mpj&mssn
WASHimroH

mmikTE

FOB
RSLS4SB»
Thursday, July 27, 1959«

Press Samoa

Tfea Secretary of tha Treasury today announced the subscription
figuras and the basis of allotaant for the offering of #200,000,000, or
thereabouts, of 5/8 pereant notas of Series 0 of the Cosxnodity Credit
Corporation.
Haperte received from tha Federal Reserve banks show that sub*
seriptions for the nev notes aggregate #2,835,000,000.

Such subscrip.

tiene «ere allotted 7 percent, but not less then #1,000 on any one sub.
scription.
Farther details ae to subscriptions and allotments « i l l be
announced when final reports ere received from the federal Resene
beaks

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Thursday, July 27, 1939.

Press Service
No. 18-34

The Secretary of the Treasury today announced the subscription
figures and the basis of allotment for the offering of $ 200 ,000 ,000 ,
or thereabouts, of 5/8 percent notes of Series D of the Commodity
Credit Corporation,
Reports received from the Federal Reserve banks show that sub­
scriptions for the new notes aggregate $2,853^000,000«

Such subscrip­

tions were allotted 7 percent, but not less than $1,0 0 0 on any one
subscription.
Further details as to subscriptions and allotments will be
announced -when final reports are received from the Federal Reserve
banks.

— o0o-—

PRESS RELEASE
The Acting Commissioner of Customs announced today that preliminary
reports from the collectors of customs show that entries for consumption
and withdrawals from bonded pastures for consumption have been accepted
covering cattle subject to the quota provisions of the Canadian Trade
Agreement, as follows:

Imported During :
Period________ :_______ Class of Cattle
July 1 to 22,
1959

:
Percent of
: Tariff Rate Quota

Cattle weighing 70G pounds
or more each, olher than
dairy cows
prom Canada

From Other Countries

Jan. 1 to July
22, 1939

:
; Head

Cattle weighing less than
200 pounds each

— ooQoo—

18,096

35.0$ of quota
for third quarteil
of calendar year!

6,570

79.3$ of quota
for third quarteil
of calendar year!

86,622

86.6$ of quota
for calendar yeai

TREASURY DEPARTMENT
Washington
FOR IJ MEDIATE RELEASE,
Saturday, July 29, 1939*

Press Service
No* 18-35

The Acting Commissioner of Customs announced today that
preliminary reports from the collectors of customs show that entries for
consumption and withdrawals from bonded pastures for consumption have
been accepted covering cattle subject to the quota provisions of the
Canadian Trade Agreement, as follows:

Imported During
Period___ _
July 1 to 22,
1939

Class of Cattle

Head

:
Percent of
:Tariff Rate Quota

Cattle weighing 700 pounds
or more each, other
than dairy cows:
From Canada

From Other
Countries

Jan* 1 to July
22, 1939

*
:

Cattle weighing less
than 200 pounds each

—oOo—

18,096

35*0% of quota
for third quarter
of calendar year

6,570

19*3% of quota
for third quarter
of calendar year

'86,622

86*6^ of quota
for calendar year

-3íEhe number of income and estate-tax cases pending before
the Board of Tax Appeals on June 30, 1939 was 6,574 compared
with 7,414 on June 30, 1938, a reduction of 840, or 11$.

4,854

cases were appealed to the Board during the fiscal year 1939,
compared with 4,912 during the preceding fiscal year*

-2-

penalties and interest.

This compares with $169,969,785

assessed as income tax deficiencies in the fiscal year 1958,
an increase of $27,670,284, or 16^,

The aggregate of income

tax deficiencies assessed during the fisca l year 1959 was
larger than in any year since 1951, when deficiency assess­
ments amounted to $197,798,751.
The number of cases closed during the fisca l year 1959
irtiich involved refunds or credits to taxpayers was 64,555, by
comparison with 58,707 such cases closed during the fisc a l year
1958, an increase of 5,826 cases, or

10%.

The amount of refunds

and credits in the fiscal year 1959 was $54,616,121 by compar­
ison with $29,552,854 in 1958, an increase of $5,265,267, or

18%.
Inventories of unassessed back taxes were materially
reduced during the year.

The number of income tax returns for

1957 and prior years in process of examination and review on
June 50, 1959 was 145,750.

This compares with 226,519 returns

for 1956 and prior years in process of examination and review
on June 50, 1938, a reduction of 80,589 returns, or S6^>.
The number of examined income-tax returns involving
adjustments not agreed to by the taxpayers and pending action
by the Bureau and i t s field offices on June 30, 1939 was 43,984.
This compares with 46,272 adjusted returns pending without tax­
payers* agreement on June 30, 1938, a decrease of 2,288.

4
Secretary of the Treasury Henry Morgenthau, Jr*, today
announced results of the operations of the Bureau of Internal
Revenue during the fiscal year ended June 30, 1939 in the
investigation of income-tax returns and the settlement of cases
f 71*
^judJu *A>**
contested hy taxpayers* ^Q&uring the yea^^the settlement machinery
of the Bureau was conpletely reorganizecmmder the direction of
Commissioner Guy T. Helvering.

The consideration of cases in

which taxpayers dispute adjustments in their lia b ility was
transferred from the Bureau at Washington to the field , giving
the taxpayers the advantage of local hearings by officers auth­
orized to make final decisions.

In addition a number of procedural

changes were made, designed to expedite the examination and adjust­
ment of returns*
The number of income tax returns subjected to investigation
ji

during the year was 490,673.

This conpares with 4/(4,448 returns

investigated in the fiscal year 1938, an increase of
I07o,
returns, or

fp>225

The number of income tax cases closed during the fiscal year
1939 by the assessment of additional tax was 241,042.

This conpares

with 213,707 cases closed in the preceding year by the assessment of
additional tax, an increase of 27,335 cases, or 13$.
The amount of deficiency income tax assessments on returns
closed during the fiscal year 1939 was $197,640,069, exclusive of

TREASURY DEPARTMENT
Vifashington
FOR IMMEDIATE RELEASE,
Monday, July 31, 1939»

Press Service
No. 18-36

Secretary of the Treasiiry Henry Morgenthau, Jr*, today announced
results of the operations of the Bureau of Internal Revenue during the fiscal
year ended June 30, 1939 in the investigation of income-tax returns and the
settlement of cases contested by taxpayers.
The results show a speeding up in the settlement of contested tax cases.
The settlement machinery of the Bureau was completely reorganized during the
year under the direction of Commissioner Guy T* Helvering,

The consideration

of cases in which taxpayers dispute adjustments in their liability was trans­
ferred from the Bureau at Washington to the field, giving the taxpayers the
advantage of local hearings by officers authorized to make final decisions.
In addition a number of procedural changes were made, designed to expedite
the examination and adjustment of returns.
The number of income tax returns subjected to investigation during the
year was 490,673«

This compares with 444,446 returns investigated in the

fiscal year 1936, an increase of 46,225 returns, or 10$.
The number of income tax cases closed during the fiscal year 1939 by the
assessment of additional tax was 241,042.

This compares with 213,707 cases

closed in the preceding year by the assessment of additional tax, an increase
°f 27,335 cases, or 13%+
The amount of deficiency income tax assessments on returns closed during
^he fiscal year 1939 was $197,640,069, exclusive of penalties and interest*
This, compares with $169,969,785 assessed as income tax deficiencies in the
fiscal year 1936, an increase of $27,670,284, or 16%+

The aggregate of

-

2

-

income tax deficiencies ‘
a ssessed during the fiscal year 1939 was larger than
in any year since 1931, when deficiency assessments amounted to $197,798,731»
The number of cases closed during the fiscal year 1939 which involved
refunds or credits to taxpayers was 6-4,533,by comparison with 58,707 such
cases closed during the fiscal year 1938, an increase of 5,826 cases, or 10%,
The amount of refunds and credits in the fiscal year 1939 was $34,616,121 by
comparison with $29,352,854 in 1938, an increase of $5,263,267, or 18%,
Inventories of unassessed back taxes were materially reduced during the
year*

The number of income tax returns for 1937 and prior j^ears in process

of examination and review on June 30, 1939 was 145,730*

This compares with

226,319 returns for 1936 and prior years in process of examination and review
on June 30, 1938, a reduction of 80,589 returns, or 36%*
The number of examined income-tax returns involving adjustments not agreed
to by the taxpayers and pending action by the Bureau and its field offices on
June 30, 1939 was 43,984»

This compares with 46,272 adjusted returns pending

without taxpayers’ agreement on June 30, 1938, a decrease of 2,288*
The number of income and estate-tax cases pending before the Board of Tax
Appeals on June 30, 1939 was 6,574 compared with 7,414 on June 30, 1938, a
reduction of 840, or 11%,

4,854 cases were appealed to the Board during the

fiscal year 1939, compared with 4,912 during the preceding fiscal year.

■oOo—

TREASURY DEPARTMENT
WASHINGTON
press Service

FOR IMMEDIATS RELEASE,
Monday, July 31, 1939*

1 1

^

flae Seoretaiy o f the Treasury today announced the fin al subscrip­
tion and allotment figures with respect to tbs current offering of 5/8
percent notes of Series D of the Gossaodity Credit Corporation.
Subscriptions and allotments were divided among the several Federal
Reserve d istricts as follows:
Federal Reserve
District

Total Subscriptions Received

Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
Total

$ 214,936,000
1,416,910,000
141,049,000
166,078,000
83,654,000
74,780,000
356,631,000
63,996,000
31,724,000
46,762,000
46,558,000
210,290,000
92,853,368,000

Total Subscrip­
tions Allotted

$ 15,132,000

99.408.000
9.958.000
11.795.000
*,014,000
6.319.000
85.579.000
4.673.000
2.288.000
5.383.000
5.448.000
14.756.000

1202,553,000

TREASURY DEPARTMENT
Washington

FOR M E D I A T E RELEASE
Monday, July 31, 1939.

Press Senrice
No. X8~37

Tn© Secretary of the Treasury today announced the final subscription
and allotment figures with respect to the current offering of 5/8 percent
notes of Series D of the Commodity Credit Corporation*
Subscriptions and allotments were divided among the several Federal
Reserve districts as follows:
Federal Reserve
District

Total Subscriptions Received .

Total Subscriptions Allotted

Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St* Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
Total

§ '214,936,000
1,416;910;000
141,049;000
166 078,000
83.654.000
74.780.000
356,631,000
63;996;000
31.724.000
4.6.762.000
46.558.000
'210,290,000

$ 15,132,000
99.408.000
9.958.000
11,795 ;000
6 .014.000
6.319.000
25.379.000
4.673.000
2.288.000
3.383.000
3.448.000
14.756.000

82,853,368,000

$202,553,000

,

mSASCST BEPARÍMBS*
h l M u h »

rea b s u u s b .
f jp f á ü y .

mmtm w i s f a f s e s ,

p" "

s#rTi<*

1 . 19 3 & *^ ------ •

y/i£/»

The Secretar? ef tk* frasear?

la *t evening tkat *ke

tender* fer $100 ,000 ,000 , or tharaakeute, e f tl«-iagr freaa«ry * iU # * te
^

datad dagas* 2 and te «atara SevaBfcer 1. W »

mre off#r#d 011

*Oy 28. aara apenad at tk* Federal k a m kani» aa ^Oy » •
The detalla ef tkla iaans ara aa follona:
fotal «pallad fer
fe ta l ¿espiad

*
-

$275,391*000
101,030,000

Ranga oí aecepted kldai

ATerage p r ic e

I
-

*9 !K 9 9 3 K qu iT «l«n t r » t « a p p ro *in a t« ly 0 .0 8 8 P»r ^ ” ‘*
8 9 .9 9 »
*
*
*
° - 028

<20 p#r«»nt of tt» •mrm* Sld for *t « » 1»» P,lea » ' aoc*Pt#4)

\

TREASURY DEPARTMENT
Washington
Press Service
18-38

FOR RELEASE, MORNING NEWSPAPERS
Tuesday« August 1« 1 9 3 9 « _____
7/31/39

The Secretary of the Treasury announced last evening that the tenders
for $100,000,000, or thereabouts, of 91-day Treasury bills, to be dated
August 2 and to mature November 1, 1939, which were offered on July 28, were
opened at the Federal Reserve banks on July 31*
The details of this issue are as follows:
Total applied for - $275,391,000
Total accepted
- 101,030,000
Range of accepted bids:
High
Low
Average price

,

100

99«993 Equivalent rate approximately 0*028 percent

99«995

n

u

t
"i

0 .0 2 2
0.022

"

(20 percent of the amount bid for at the low price was accepted)

- 0O0—

DISTILLED LIQUORS (Proof Gallons):
Stock in Customs bonded Ware­
houses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
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)
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)
Stock in Customs Bonded Warehouses at end
DUTIES COLLECTED ON:
Distilled Liquors
S t i l l Wines
Sparkling Wines
Total Duties Collected on Liquor

:
;

Ju n e
1939

:
*

May
1939

:
:

Ju n e
1938

:
:

F i s c a l Y ear
1939
:
1938

4 ,1 2 2 ,9 4 3
7 8 9 ,1 9 5
4 ,9 1 2 ,1 3 8
7 6 9 ,3 9 6

3 ,8 9 2 ,3 3 8
1 ,0 7 9 ,1 5 5
4 ,9 7 1 ,4 9 3
8 4 1 ,7 3 9

3 ,5 1 7 ,2 3 1
9 03,599
4 ,4 2 0 ,8 3 0
9 24 ,4 6 6

4 ,1 3 7 ,8 7 8

4 ,1 2 2 ,9 4 3

3 ,4 9 3 ,6 6 6

4 ,1 3 7 ,8 7 8

3 ,4 9 3 ,6 6 6

1 ,1 0 1 ,3 4 1
2 5 6 ,2 7 5
1 ,3 5 7 ,6 1 6
2 0 6 ,2 8 2

1 ,0 5 9 ,0 9 1
270 ,2 6 6
1 ,3 2 9 ,3 5 7
227 ,9 8 1

1 ,3 6 3 ,3 7 6
1 5 4 ,5 3 6
1 ,5 1 7 ,9 1 2
1 9 3,251

1 ,3 2 0 ,7 0 9
2 ,9 9 3 ,9 7 7
4 ,3 1 4 ,6 8 6
3 ,1 4 9 ,5 6 2

1 ,2 9 8 ,3 0 4
3 ,0 8 2 ,3 5 4
4 ,3 8 0 ,6 5 8
3 ,0 4 5 ,9 6 1

1 ,1 5 1 ,2 9 2

1 ,1 0 1 ,3 4 1

1 ,3 2 0 ,7 0 9

1 ,1 5 1 ,2 9 2

1 ,3 2 0 ,7 0 9

306 ,2 9 7
5 0 ,3 2 0
3 5 6 ,6 1 7
3 5 ,5 5 5

2 5 6 ,5 9 0
8 6 ,1 1 0
3 4 2 ,7 0 0
3 6 ,3 9 3

2 9 7 ,4 1 3
2 4 ,1 9 2
3 2 1 ,6 0 5
2 7 ,2 4 1
tasÄiWjSiwSiiBswÄ

294,136
5 3 9 ,2 3 8
8 3 3 ,3 7 4
511 ,6 4 7

206 ,1 7 8
631,883
83 8 ,0 6 1
5 4 2 ,1 4 2

3 0 6 ,2 9 7

2 9 4 ,1 3 6

3 2 1 ,0 1 4

294,136

# 2 ,2 8 7 ,5 8 8 # 2 7 ,5 3 6 ,1 9 8
1 6 2 ,7 7 8
2 ,7 4 8 ,7 2 0
8 1 ,0 3 9
1 ,5 3 1 ,4 1 3
# 2 ,5 3 1 ,2 0 5 “ # 3 1 ,8 1 6 ,3 3 1

# 3 5 ,1 2 8 ,2 7 2
2 ,6 8 3 ,9 7 8
1 ,6 2 0 ,2 6 4
# 3 9 ,4 3 2 ,5 1 4

jt|,,h||,1

3 2 1 ,0 1 4
# 1 ,9 0 6 ,8 4 6
1 7 0 ,4 5 4
1 0 5 ,96é
# 2 ,1 8 3 ,2 6 6

# 2 ,0 7 9 ,6 0 9
1 9 2 ,4 6 1
1 0 9 ,1 3 4
#273817204

oaOtkei*
ém&

Including withdrawals for ship supplies and diplomatic use.

niran,,nt* stmtii s tt-i i

.....c...

3 ,4 9 3 ,6 6 6
3 ,8 6 3 ,8 3 9
1 1 ,8 5 7 ,7 0 8
1 3 ,9 7 7 ,3 7 9
1 5 ,3 5 1 ,3 7 4
1 7 ,8 4 1 ,2 1 8
1 1 ,1 1 1 ,2 6 3
1 4 ,2 5 7 ,8 5 5
$$$$&&!Q^j0S3mmvmmmm flftfÉttlir

PRESS RELEASE
Imports of distilled liquors were much smaller during the fiscal
year ending June 30, 1939, than during either of the two immediately
preceding fiscal years, the

of Customs announced

today.
Only 11,111,263 gallons of imported distilled liquors were entered
for consumption in the United States during the fiscal year 1939, a de­
crease of 3,146,592 gallons or 22 percent from the total whiéh entered
into consumption during the previous fiscal year.

As a result of the

diminished importations, the duties collected on distilled liquors were
$7,592,000 less than during 1938.
Imports of wine during 1939 showed little change from the preceding
fiscal year, imports of still wine being slightly larger and those of
champagne and other sparkling wines slightly smaller than during 1938.
The duties collected on liquors and wines during 1939 ($31,816,331)
represented 10 percent of the total duties collected during that year
($318,837,311)•

The decline in duties collected on distilled spirits

and wines, however, was greater than that on most other imported commodi­
ties, the decrease in customs collections from imported alcoholic
beverages amounting to 19.3 percent, whereas the decrease in duties
collected on other commodities amounted to only 10.2 percent.

d L d tW ‘ ¡ ¡ ¡ ¡ ¡ |§
1

? 3^

?

|f

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING PAPERS,
FridfXY> August 5, 1959»

Pross Service
No. 18-39

Imports of distilled liquors wore much smaller during tho fiscal
year ending June 30, 1939, than during either of the two immediately
preceding fiscal years, the Bureau of Customs announced today.
Only 11,111,263 gallons of imported distilled liquors were ontered
for consumption in the United States during the fiscal year 1939, a decrease
of 3,146,592 gallons or 22 percent from the total which ontered into consump­
tion during the previous fiscal year.

As a result of the diminished

importations, the duties collected on distilled liquors were $7,592,000
less than during 1938«
Imports of wine during 1939 showed little change from the
precoding fiscal year, imports of still wine being slightly larger and
those of champagne and other sparkling wines slightly smaller than during
1938^

Tho duties collected on liquors and wines during 1939 ($31,816*331)

represented 10 percent of the total duties collected during that year
($318,837,311).

The decline in duties collected on distilled spirits and

wines, however, was greater than that on most other imported commodities,
the decrease in customs collections from imported alcoholic beverages
amounting to 19,3 percent, whereas tho decrease in duties collected on
other commodities amounted to only 10.2 percent.
Imports and duties for fiscal 1938 and 1939 and for Juno 1938, and
May and June of 1939 were as follows:

IMPORTS OP DISTILLED LIQUORS AND WINES AND DUTIES COLLECTED :•
JUNE 1939

i
•
t• .

blSTILLED LIQUORS
(Proof Gallons) S
Stock in Customs
Bonded Warehouses
at "beginning» • • • • ♦
Total Imports (Preo
and Dutiable) . ... .
Available for Con-

June
1939

s
:

May
1939

S
:

June
1938

S
5

:

4*122,943

3,892,338

3,517,231

3,4

839

789,195

1,079,155

903,599

11,8

379

4,912,138

4,971,493

4,420,830

15,2

218

Entered into Con924,466
11,1
841,739
769,396
sumption (a). . . . . .
Stock in Customs
Bonded Warehouses
4,1
3,493,666
4,122,943
4,137,878
at end*
STILL WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
1,3
1,363,376
1,059,091
1,101,341
at beginning«• • * * ♦
Total Imports (Preo
2,9
154,536
270,266
256,275
and Dutiable ) • • « « •
Available for Con4,3
1,517,912
1,329,357
1,357,616
sumption«*• • « » . . « •
Entered into Con«f
3,1
193,251
227,981
206,282
sumption (a) • • • • # »
Stock in Customs
Bonded Warehouses
1,320,709
1,1
1,101,341
1,151,292
| at end«^ « • • • • • • • » »
SPARKLING WINES
(Liquid Gallons )l
Stock in Customs
Bonded Warehouses
2
297,413
256 , 590
306,297
at b e g i n n i n g . * •
Total Imports (Pree
5
24,192
86,110
50*320
and Dutiable).**««
Available for Con8
321,605
342,700
356,617
sumption«• « « « * • • • »
Entered into Con£
27,241
36,393
35,555
sumption (a)......
Stock in Customs
Bonded Warehouses
n
t294,136
306,297
_at end,
321,014
DUTIES COLLECTED ON*
$2,287,388
$27. £
$2,079,609
Distilled Liquors« • $1,906,846
162,778
2,7
192,461
170,454
Still Wines. « • « ■ • • • •
1,5
81,039
109,134
105,966
Sparkling Wines. . . .
Total Duties Col­
$31,8
$2,531,205
$2,381,204
lected on Liquor« • $2,183,266
use«
and
diplomatic
ship
supplies
(a) Including withdrawals for

855

666

304
354
658
961

709

178
883
061
142

136
272
978
264
514

TREASURY DEPARTMENT
Washington

Press Service
No, 18-40

FOR RELEASE, MORNING NEWSPAPERS
Tuesday« August 8, 1 9 3 9 , ______

877/39
The Secretary of the Treasury announced last evening that the
tenders for $100,000*000» or thereabouts, of 91-day Treasury bills, to
be dated August 9 and to mature November 8, 1939, which were offered on
August 4, were opened at the Federal Reserve banks on August 7,
The details of this issue are as follows;
Total applied for
Total accepted

- $256,175,000
- 100,429,000

Range of accepted bids;
High
Low
Average price

- 100 .
99.991
99.992

Equivalent rate approximately
0.036 percent
Equivalent rate approximately
0.032 percent

(48 percent of the amount bid for at the low price was accepted)

-0O0-

TOT&L IMPORTS
Percent of Quota

5,669,861
59,758,730
1,269,415
______ 37.80%__________________ 66.40%_______ Z.12$

COUNTRY OF EXPORT
Canada
Other Countries

5,669,861
-

CUSTOMS DISTRICT
Aldska
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Indiana
Los Angeles
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Ohio
Philadelphia
Pittsburgh
Puerto Rico
Rochester
St. Lawrence
St. Louis
San Francisco
South Carolina
Vermont
Virginia
Washington
Wisconsin

619,878
167,450
285
49,089
24,000
2,250
303,819
470,999
2,152,272
53,200
171,465
208,280
51,481
53,950
569,425
679,047
3,000
45,785
■28,074
16,112

59,758,730
-

1,096,469
172,946

_

5,400
42,000
3,629
120
«
•
100,098
55,680
42,963
66,906
48,430
233,637
553,654
16,725
3,373
96,800
**

48,960
»
79,680
—
8,134,439
•
5,390,345
242,278
1,591,012
459,080
33,972,702
—
842,047
—
23,870
36,356
_
_
a.
487,338
117,060
8,312,788
20,775
—

(Prepared by Division of Statistics and Research, Bureau of Customs)

PRESS RELEASE
Hie Acting Commissioner of Customs today announced preliminary figures on importi
of commodities under the quota provisions of the Canadian Trade Agreement, as of JulJ
29, 1939, and the percentage that such imports bear to the totals allowable under the|
quota provisions, as follows:
CATTLE 700# OR MORE
(Other than Dairy Cows )
July 1-July 29
Jan.1 -July 29
1939
(Head)
1939
(Head)
TOTAL IMPORTS
Percent of Quota
COUNTRY OF EXPORT
Canada
Other Countries
CUSTOMS DISTRICT
Alaska
Ari zona
Buffalo
Chicago
Dakota
Duluth & Superior
El Paso
Galveston
Los Angeles
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Ohio
Omaha
Oregon
Philadelphia
Pittsburgh
Puerto Rico
St. Lawrence
St. Louis
San Antonio
San Diego
San Francisco
Vermont
Washington

31,810
- 1/

155,969
- 2/

January 1 to July 29, 1939
CATTLE
UNDER 200# WHOLE MILK
(Head)
(Gallon)
(GalioJ
89,777
89«78#

3,593
0,119#

24,726
7,084

110,741
45,228

60,744
29,033

3,593
-

343
5,820
585
2,216
4,784
132
20
17
4,169
7,955
42
939
126
525
974
489
362
62
2,250

9,452
33,074
940
12,114
39
28,112
132
253
41
187
17
10,479
36,534
903
2,723
312
1,520
784
104
111
557
974
5,085
1,031
8
369
10,114

16,307
3,061
5,224
1
11,608
14
7
457
1
839
6,554
35
31,780
9,487
1,095
2
795
2,510

271
1,728
1,117
156
268
53
-

0

.(

14(

3

7

1/ The 24,726 head imported from Canada represents 47.81# of the ta r iff rate quota 3
the tM r l quarter of the calendar year. The 7,084 head imported from other countries
represents 85.56# of the ta r iff rate quota for the third quarter of the calendar ye01!
2/ The 155,969 head includes 151,061 head dutiable at the reduced rate under the tr^
agreement and 4,908 head dutiable at the fu ll ta r iff rate.

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Tuesday, August 6» 1939,
The
on imports
Agreement,
the totals

Press Service
^0% is«4i

Acting Commissioner of Customs today announced preliminary figures
of commodities under
the
quota provisionsof theCanadian Trade
as of July 29» 1939, and thepercentage that
such imports hear to
allowable under the quota provisions, as follows?
♦
•
CATTLE 700# OR MORE
•
#
(Other than Dairy Cows)
• July 1-July 29
•
: Jan.1-July 29
«
•
1939
(Head) : 1939
(Head)

TOTAL IMPORTS
Percent of Quota
COUNTRY OP EXPORT
Canada
Other Countries

31,810
- 1/

24,726
7,084

January 1 to July 29, 1939
CATTLE
t
WHOLE MILK :CREAM
UNDER 200#
(G-allon) i(Gallon)
(Head)

155,969
- 2/

89,777
89.78$

3,593
0.119$

110,741
45,228

60,744
29,033

3,593
-

826
0,055$

332
494

CUSTOMS DISTRICT
mm
Alaska
271
6
Arizona
Ml
mm
343
16,307
9,452
mm
Buffalo
mm
33,074
5,820
3,061
m
m
Chicago
m
m
585
940
Dakota
2,216
12,114
5,224
1,728
140
■M
M.
Duluth & Superior
—
39
1
El Paso
m
m
4,784
11,608
28,112
Galveston
M
■
*
132
14
132
Dos Angeles
Ml
mm
253
7
Maine & N.H»
20
41
457
1,117
34
_
Maryland
mm
mm
•m
187
*
m
m
m
Massachusetts
17
17
1
Michigan
4,169
10,479
839
156
72
Minnesota
mm
7,955
36,534
6,554
Ml
Montana & Idaho
42
903
35
4
New York
M
mm
939
2,723
31,780
3d
Ohio
m*
312
Omaha
mm
mm
mm
mm
1,520
Oregon
mm
mm
126
784
mm
mm
mm
Philadelphia
M.
104
M,
Pittsburgh
m
m
mm
mm
111
—
Puerto Rico
mm
494
St, Lawrence
525
557
9,487
268
13
St, Louis
«•»
mm
974
974
San Antonio
mm
489
5,085
1,095
San Diego
mm
Ml
362
1,031
2
San Prancisco
mm
8
Vermont
369
62
795
53
63
W ashington
Ml
2,250
1 0 , 114
2,510
U ,J-'he 24,726 head imported from Canada represents 47.81$ of the tariff rate quota
^ucu i/e* ui i/xie caienaar year* xne (»ucs^t neaa imported rrom otner
countries represents 85.56$ of the tariff rate quota for the third quarter of the
endar year.
2/ The 155,969 head includes 151,061 head dutiable at the reduced
ate under the trade agreement and 4,908 head dutiable at the full tariff rate.

2
1 Jan.l to July 29, 1939
PISH, FRESH OR
FROZEN, FILLETED,
ETC., Cod, HaddCck,
Hake, Pollock, Cusk,
Rosefish
(Pounds)
T o m IMPORTS
Percent of Quota
COUNTRY OP EXPORT
Canada
Other Countries
CUSTOMS DISTRICT
Alaska
Buffalo
Chi cago
Dakota
Duluth & Superior
Florida
Indiana
Los Angeles
Maine& N, H*
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Ohio
Philadelphia
Pittsburgh
Puerto Rico
Rochester
St, Lawrence
St, Louis
San Francisco
South Carolina
Vermont
Virginia
Washington
Wi sconsin

.

Sept.15,1938 - July 29, 1939
WHITE OR IRISH POTATOES
CERTIFIED
OTHER
SEED

(Pounds)

(Pounds)

5,669,861
37,80$

59,758,730
66,40$

1,269,415
2.12$

5,669,861
-

59,758,730
-

1,096,469
172,946

48,960
79,680
8,134,439
-

5,400
42,000

5,390,345
242,278
1,591,012
459,080
«
33,972,702
842,047
—
23,870
36,356
«
487,338
117,060
8,312,788
20,775
—

100,098
55,680
42,963
66,906
—
48,430
233,637
—
553,654

619,878
167,450
285
49,089
—
24,000
2,250
303,819
—
470,999
2,152,272
53,200
171,465
208,280
51,481
53,950
«.
m
569,425
679,047
3,000
*»
45,785
—

28,074
16,112

3,629
120
—
«M9

**
16,725
—
**
3,373
•*
96,800
00

PRESS RELEASE
The Acting 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 July 29, 1939; under the Cordage Act of 1935, during the period May l|
to July 29, 1939; and the percentage that such imports bear to the totals allowabl
under the quota provisions as follows:

:J
:

Customs District

208,778,437
46.60#

TOTAL IMPORTS
Percent of Quota
Chicago
Galveston
Georgia
Hawaii
Los Angeles
Maryland
Massachusetts
Mobile
New Orleans
New York
AV4
a
UnlO
1 ■■■—
Oregon
Philadelphia
Puerto Rico
San Erancisco
Virginia
Washington

January 1 to July 29, 1939
UNREFINED
:y REFINED
SUGAR
SUGAR
:
COCONUT OIL :
(Pounds)
:< (Pounds)
(Pounds)
75,557,733
67.46#

.

6,600
2,247,340
3,177,850
40,379,808
41,071,938
110,445,379
I..

:
:

u

1 ,295,648,833
72.30#
«

2,842,307

45,858,706
13,386,231
2,109,115
87,456,420
59,447,488
200,134,701
572,646,113

18,086,710
33,501,251

232,700
307,618,939
744,367
4,504,976
1,509,077

21,127,465
-

May 1 - July
29. 1939
CORDAGE
(Pounds)
692,714
11.55#
292
45,479
42,683
132,786
—
28,801
2,283
1,715
165,163

—
-

3,160,378
44,797
6,737,535
1,056,840
449,972

-

•
57,609
196,291
19,612

(Prepared by Division of Statistics and Research, Bureau of Customs)

V

TREASURY DEPARTMENT
Washington
FOR B MEDIATE RELEASE
Tuesday, August 8, 1939

Press Service
No. 18-4-2

The Acting 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 July 29, 1939$ under the Cordage Act of 1935, during the period May
1 to July 29, 1939$ and the percentage that such imports bear to the totals
allowable under the quota provisions as follows:

:

Customs District

TOTAL IMPORTS
Percent of Quota
Chicago
Galveston
Georgia
Hawaii
Los Angeles
Maryland
Massachusetts
Mobile
New Orleans
New York
Oregon
Philadelphia
Puerto Rico
San Francisco
Virginia
Washington

January 1 to July 29 « 1939...._. :
: UNREFINED :
: REFINED
:
SUGAR
: SUGAR
: COCONUT OIL
;
(Pounds)
(Pounds) :
: (Pounds) :

208,778,437
4-6.60$

75,557,733 1,295,648,833 692,714
72.30$
67.46$
11.55$

—
—
—

45,858,706
13,306,231

21,127,465
—
—
—
—
2,842,307
18,086,710
_
—
—
' —
33,501,251

2,109,115
87,456,420
59,447,488
—
200,134,701
572,646,113
232,700
307,618,939
—
744,367
4,504,976
1,509,077

—
—
6,600
2,247,340
3,177,850
40,379,808

—
41,071,938
110,445,379
«
3,160,378
44,797
6,737i535
1,056,840
449,972

May 1 - July
29. 1939
CORDAGE
(Pounds)

•oOo-

—

292
45,479
—
42,6.83
132,786
—
28,801
2,283
1,715
165,163
—
—

57,609
196,291
—
19,612

PRESS RELEASE

The Acting Commissioner of Customs today announced that
preliminary reports from the collectors of customs show imports
of 92,640 head of cattle weighing less than 200 pounds each,
during the period January 1 to August 8, 1939, inclusive.
This total represents 92.6 percent of the tariff rate quota
on imports of this class of cattle for the calendar year 1939,
provided for under the quota provisions of the Canadian Trade
Agreement.

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE
Thursday. August 10, 1939

Press S®ry^ce
No#

The Acting Commissioner of Customs today announced that preliminary
reports from the collectors of customs show imports of 92,64-0 head of
cattle weighing less than 200 pounds each, during the period January 1
to August 8, 1939, inclusive.
This total represents 92.6 percent of the tariff rate quota on
imports of this class of cattle for the calendar year 1939, provided
for under the quota provisions of the Canadian Trade Agreement.

-oOo-

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday, August 11, 1939«_______
8/10/39.

Press Service
No. 18-44

Acting Secretary of the Treasury Hanes will present to the Alcohol Tax
Unit at ten o'clock this morning Secretary Morgenthau's silver cup annually
awarded to the high team of Treasury agents in pistol marksmanship training.
Agents of the Customs Service have been awarded the cup for the past
three years in the matches participated in by agents of the Treasury's law
enforcement units.

This marks the first time that it has passed out of their

possession since the competitions began*
Teams from the following Treasury agencies placed in this order:
Alcohol Tax Unit
Bureau of Customs
White House Police
Uniformed Force (Secret Service)
Bureau of the Mint
Secret Service
Bureau of Narcotics
Bureau of Internal Revenue

1751
174-6
1739
1723
17141697
1695
164-7

The following is a list of the participants in the matches and their
individual scores :
BUREAU OF CUSTOMS

-

I.
296
Arnvid Anderson, War road, Minn.
J*T. Harmon, Panama City, Florida
293
287
C*E. Gardiner, El Paso, Texas
294Jose F. Rua, San Juan, P.R.
L. Whitney, Los Angeles, Calif. 278
283
Geo, W. Benecke, New York, N.Y.

II.
299
296
290
296
284281

MATCHES
IV*.
III.
299
293
278
293
280
293
282
271
267
291
260
288

295
293
295
297
295
288

293
296
290
293
282
297

AGGREGATE
1187
1160
1150
114-3
1120
1112

ALCOHOL TAX UNIT
l.B, Parker, Roswell, New Mexico
J*M. Schooley, Denver, Colo.
C*W«Huye tte, Detroit, Mich,
J*C, Harston, Dallas, Texas
Edw, A. Bennett, Jersey City, N.J.
Philip Gross, Detroit, Mich*

295
291
285
292
285
285

279
273
278
281
265
282

1162
1153
114-8
1163
1127
1152

- 2 -

BUREAU OF MINT
II#
294
272
284
283
298
296

MATCHES
III#
IV.
285
244
289
255
258
279
281
278
286
288
292
260

281
293
287
282
286
289

290
292
290
288
296
283

284
284
277
274
294
282

278
263
246
278
275
276

1151
1130

294289
286
282
297
281

298
290
242
293
296
282

290
289
294
284
295
287

273
280
275
269
272
251

1155
1148
1097
1128
1160
1101

279
280
285
271
296
259

292
283
275
266
296
273

286
283
283
279
295
271

275
265
262
238
275
215

1132
1111
1105
1054
1162
1118

291
292
286
284277
274

292
290
286
294
266
286

294
292
281
292
281
283

276
259
261
267
250
243

1153
1133
1114
1142
1074
1086

284
294
281
264
255
259

288
292
266
267
251
262

297
296
264
266
224
280

277
253
231
241
233
229

1146
1135
1052
1038
963
1130

I.
C.L. Morris, Denver, Colo#
282
S.S.Wadsworth, Denver, Colo#
274fm# J. Lambert, San Francisco, Cal# 281
L.O. Reppert, New York, N.Y#
284
E.J# Mosser, Philadelphia, Penn.
288
E. Widmer, Denver, Colo#
287

AGGREGATE
1115
1090
1102
1126
1160
1135

NARCOTICS
G.R.Davis, New York, N.Y#
W.E.Frey, Chicago, 111#
C.J.Kelly, Chicago, 111*
I.J.Joroslow, Los Angeles, Cal.
A.D.Caswell, New York, N#Y.
K,C. Rudd, San Francisco, Cal#

1133
1132
1100

1116

WHITE HOUSE POLICE
H.W. Francis, Washington, D.C.
Earl Reynolds, Washington, D.C.
Frank McLaughlin, Washington, D.C.
Ira L. Law, Washington, D.C.
A.L. Keith, Washington, D.C#
T.C, Tingle, Washington, D.C#
SECRET SERVICE
G. J. McNally, New York, N#Y.
Harry Schaetzel, Chicago, 111#
W.A, Primrose, Seattle, Wash#
C.B.Rich, San Francisco, Cal#
W.B. Cline, Kansas City, Kan#
Alex Dvoretsky, Newark, N#J.

UNIFORMED FORCE (SECRET SERVICE)
R.J. Mansell, Washington, D.C#
C.P. Hornor, Washington, D.C#
H. R. Johnson, Washington, D.C.
H.W.Arnold, Washington, D.C.
P.A. Bass, Washington, D.C.
A.R. Swann, Washington, D.C.
BUREAU OF INTERNAL REVENUE
E.A. Ross, Washington, D. C.
L#A. Barr, Washington, D.C.
O.T, Neal, Washington, D.C.
Gardner, Washington, D.C.
J*B. O ’Neal, Atlanta, Ga.
^•E. Allen, Washington, D.C.

3
The distribution of medals was as follows:

FIRST MATCH

GOLD - A. L# Keith«
SILVER - A m v i d Anderson, Jose F. Rua, L. A. Barr.
BRONZE - J. T. Harmon, J. C. Harston, K. C. Rudd, C. J. Kelly,
R. f* Widmer, Frank McLaughlin*

SECOND MATCH
GOLD i«* A r m I d Anderson*
SILVER — H* W. Francis, E. J. Mos-ser» J* C* Harston*
BRONZE - E. W* Widmer, Jose F* Ena, W* B* Cline, A. D. Caswell
J. T* Harmon, A* L. Keith#

THIRD MATCH
(1st Div.)
GOLD — Alcohol Tax Unit, one to each man; also Secretary's cup
to the team#
SILVER «•* Customs, one to each man.
BRONZE — White House Police, one to each man.
THIRD MATCH
(2d Div.)
GOLD •» Uniformed Force (Secret Service), one to each man#
SILVER — Bureau of Mint, one to each man.
BRONZE — Secret Service, one to each man*

~ 4 -

In addition to the medalists named the following received medals
for high aggregate scores of the entire match:
Arnvid Anderson, gold medal
J. C. Har ston , silver medal
Ii. D. Parker, silver medal
w. B. Cline, silver medal
3. J, Mosser, bronze medal
These five men will join Treasury Team Mo« 1 and represent the Treasury
Department at the National Pistol Matches at Camp Perry, Ohio, beginning
August 20.

2
of contributions which would have been allowable to him had he paid them on or
before the due date,
(

Effective January 1, 1940, bo t h > j 6 J ^ Id-age insurance)and unemployment com­

pensation taxes will apply to national banks, State banks which are members of
the Federal Reserve System, and certain other Federal and State instrumentalities
which are exempted under the old law*

Seamen on American vessels will likewise

be covered for purposes of the

tax but not for unemployment

compensation*
^jp An important change in the law which will be of immediate interest to both
employers and employees is one which, effective January 1, 1939, makes the
taxes applicable to employees over
Am*#«*
A

\ jjytlli'ji n'miijiTTr^ were exempted*

sixty-iT^bC^Jnder the
'V

The fact that the change is retroactive, the

Commissioner stated, will m ean that, subject to certain limitations contained in
taxes will be due on all taxable wages paid to

the amendments,

employees over age sixty-five for services performed by them since January 1, 193

7

Beginning with January 1, 1940, a number of new exemptions from both the,,
and unemployment compensation taxes are also added by the amend­

ments*

These include services performed by employees receiving only nominal

amounts (less than #45 per quarter) from various nonprofit organizations exempt
from Federal income tax; services performed for agricultural, horticultural, and
employees* beneficiary associations; newsboys under the age of eighteen; student
nurses and internes; and certain other groups.
The exemption of agricultural labor under the old law has also been broadenej
effective January 1, 1940, so as to exclude numerous types of services heretofore
taxable under both the old-age insurance and unemployment compensation provisions
of the Act.
A number of minor changes in the taxing provisions of the law are also made
by the amendments.

All of the changes, the Commissioner stated, will be made the

subject of new regulations.

TREASURY DEPARTMENT

71

fl T 1'“"‘l
Washington
/ <f - « / r

fpi'ysB'TOiyuyu no. “
For Immediate Release w ;» ) 4 ^
^
,
O x ^ W
I
,> ‘l
W O K .
Commissioner of Internal Revenue Guy T • He 1verihgHforifty a
■fcjSLJjjUB'KUli>TÌliti»

v,g_ 4-v»^ effect of the rf?PftntNy ena»4»fl amendments to the Social Security
CxA A
C
■^-4#' AJk&t ft
Ac-t^fn^so far as "they^Y^'^te''tb',the taxing features of the social security program'administered by the Bureau of Internal Revenue.
^

law oonei^£»0 f t h e folifcewiuj^

COsJ£

The major changes in the
\

J

11 The old-age insurance tax rate has been fixed for the next three years at
1 per cent on the employer and 1 per cent on the employee, as against the lijr per
cent rate provided under the old law.
X v Beginning with the taxable year 1940, only the first |>3,000 of annual wages
paid to each employee will be subject to the Federal unemployment compensation
tax.

This limitation does not apply to the year 1939 or to previous years, the

total amount of wages paid by the employer for those years being subject to the trj
Effective with the current year, the tax base for purposes of the unemploy- I
ment compensation tax is changed from ’’wages payable” to the ’’wages paid” defi­
nition used in the old-age insurance provisions.

ij-

The time within which employers of eight or more employees may pay their

contributions to the various State unemployment funds for the years 1936, 1937,
and 1938 and still qualify for the credit against the Federal unemployment com­
pensation tax has been extended through October

, 1939.

Under the old law, the

contributions for these years were required to be paid before the due date of the
Federal return or, in the case of the year 1936, before July 27, 1938.

Beginning|

with the year 1939, moreover, if the State contributions are paid after the due
date of the Federal return but on or before June 30 next following the due date,
the employer will not lose the benefit of all such contributions in computing his
Federal tax but will be able to credit against the tax 90 per cent of the

amount

TREASURY DEPARTMENT
Washington

Press Service
No. 13-45

for i m m e d i a t e r e l e a s e ,

Friday, August 11, 1939.

Commissioner of Internal Revenue Guy T. Helvering this afternoon described
the effect of the amendments to the Social Security Act, approved today by the
President, in so far as they relate to the taxing features of the social security
program administered by the Bureau of Interna]- Revenue,

The major revenue changes

in the law are as follows:
1,

The old-age insurance tax rate has been fixed for the next three

years at 1 per cent on the employer and

1 per cent on the employee, as against

the ly per cent rate provided under the old law,
2,

' Beginning with the taxable year 1940, only the lurst ' 3*000 ox annual

wages paid to each employee will be subject to the Federal unemployment
Icompensation tax.

This limitation does not apply to the year 1939 or to pre­

vious years, the total .amount of wages paid, by the emplover xor those yoars
being subject to the tax:.
3«

Effective with, the current year, the tax base .¿.or purposes of the

unemployment compensation tax is changed from "wages payable’* to tne *‘wages
paid" definition used in the old-sve insurance provisions.
4.

The time within which employers of eight or more employees may pay

their contributions to the various State unemployment iuno.s xor thts years 1/3C ,
1937, and 1938 and still qualify for the credit against the Federal unemploy­
ment compensation tax has been extended through October 9, 1939.

Under the

old law, the contributions for these years were required to be paid before the
due date of the Federal return or, in the case of the year 193*6, before
July 27, 1933.

Beginning with the year 1939, moreover, if the State contribu­

tions are maid after the due date of the Federal return but on or before

June 30 next following the due date, the employer will not lose the benefit of
all such contributions in computing his Federal tax but will be able to credit

against the tax 90 per cent of the amount of contributions which would have
been allowable to him had he paid then on or before the due date.
5.

Effective January 1, 1940, both the Title VIII (old-age insurance)

and unemployment compensation taxes will apply to national banks, State banks
which are members of the Federal. Reserve System, and certain other Federal, and
Stp-e instrument tali ties which a:re exemptecÏ u:
American vessel s will likewise be cover ed fo:
but not for une:mployment compen.sat ion.
6.

i«rU
A n .iimportant change in the 1 aw

to :both employers and employees is; one vrh:Lch
the Title VIII taxes applicable to1 empl .oy*Etes
the previous le¡gislation, these erriploye¡es we
change is retroactive, the Commissioner stated, will mean that, subject to
certain limitations contained in the amendments, Title VIII taxes will be due
on all taxable wages paid to employees over age sixty-five for services per­
formed by them since January 1, 1939*
7.

Beginning with January 1, 1940, a number of new exemptions from

both the Title VIII and unemployment compensation taxes are also added oy the
amendments.

These include services performed by employees receiving only

nominal amounts (less than 445 per quarter) from various nonprofit organiza­
tions exempt from Federal income tax] services performed for agricultural,
horticultural, apd employees * beneficiary associations; newsboys imder the age
of eighteen; student nurses and internes; and certain other groups.

- 38.

The exemption of agricultural labor under the old law has also been

broadened, effective January 1, 1940, so as to exclude numerous types of
services heretofore taxable under both the old-age insurance and unemployment
compensation provisions of the- Act*
A number of minor changes in the taxing provisions of t.ne law are a±so
made by the amendments.

All of the changes, the Commissioner stated, will b<

made the subiect of new regulations*

—oOo*

Theodore C. Rapalus,
103 Cottage St,,
Easthampton, Mass.

John M. Waters, Jr.,
306 Whitehead Ave.,
Wilson, N. C.

F. Breitwieser i
/Al 700 N. 32nd St.,
St* Louis, 1 1 1 .

U
William N. Hayton,¡
P. 0. Box 266
Aurora, N. Y.
/.William C. Gordon,
^Granby, Conn.

George C. Fleming,
r w A 2 6 2 3 Louisiana Ave.,
\23/St. Louis, Mo.

Ward J. Davies,
11 Nealy Ave.,
Langley Field, Va,
^

I Fernando J. Fernandez
( 274 Dean St.,
\ / Brooklyn, N, Y

Julian R. Raper, Jr.,
1508 Chesapeake Ave.,
South Norfolk, Va.

Robert J. LoForte, ( ^
1 Cottage Street,
Montmcello, N. Y.

1

/

Peter J. Butvidas,
6 Yale St.,
Nptley, N. J.
^
IjWillard L. Hendershott,
'oNara&ja, Fla.

r*VT7 .-- - - ■
^ a n BeriSai^atESRi

1/

Gerhard K. Kelz,
(P®
416 North Sultana Ave.,
Temple City, Calif.

/ Thomas L. Ketcham,
/A
\ S 15— Grimm Place, *
Baldwin, L. I., N. Y,

Howard Heym,
2827 NE 20th Ave., Pi
Portland, Cregon
George T. Beemer,
328 Bedford St.,
Clarks Summit, Pa.

Roderick L. Harris, /fo\
5060 Bancroft Drive,
La Mesa, Calif.

Leroy A. Cheney,
9101 219 Street,
Queens Village, N# I*

Charles Zelinsky, y*
"7^ 24 Goshen St,,
' New London, Conn.

James D. Luse,
II326 Messier Road,yÇ
Cleveland, Ohio

V

Lothar H. Schmidt*
^
25 Prospect St.,
"7^ f / New Rochelle, N. Y.

William J. Kilkenny,
367 Dawson St.,
Philadelphia, Pa.

Douglas D. Vosler,
157-32 27 Avenue,
Flushing, N

Kenneth E, Webb,
Garrettsville, Ohio

Carl Blanchett,
370 Demo rest Avenue,
Staten Island, N. Y.

/\ ^
William E. Baird, A» W
10 Woodward Ave., \
Glovers ville, N. Y."^

Kenneth E. Wilson, f *ci
1034 West 36 th St.,V_
Los Angeles, Calif.

>-->Dharles G. Kolodzinski,
h í K j í Lake St.,
V ^ T l o r e n c e , Mas s •

Frank C. Schmitz,
CY> J
Naval Academy Prep Class,
^ ^ ^ F r a n c i s G. Bartlett,
P ^ o n o Road,
Naval Operating Base,
Canada,
Norfolk, Va.

Wilfred N. Derby, Jr.,
^418 E. Leland St.,
^Chevy Chase, Md.
Hersey C. Forehand,
68 D View Avenue
Norfolk, Va.

If

\y

C A
Curtis R* Peck, \v\ u
28 Newfield St.,s^ ^ a s t Orange, N. J.
Charles W. Scharff,
Dune Deck,
Westhampton Beach, N. I
Fletcher W. Brown, Jr.,
^5 Niles Hill Road,
Jew London, Conn.
Lawrence C. Miller,
r/|
264 Massachusetts Ave.JProvidence, R. I.
\ ■

v36ntario,

Edward D. Scheiderer,
Naval Academy Prep Class,
Naval Operating Base,
Norfolk, Va.

71

iS&obert J. Clark,
v505 North First St.,
/Alhambra, Calif.

r\

George J. Yost,
y)
2266 Glenridge Road,
Euclid, Ohio
VyÊuclid,

Clinton E, McAuliffe
v}
Stanley H. Rice,
Chappell, Nebraska* V
s—
f
p60 Stevens Road,
Charles E. Cole,
^Needham, Mass.
7 West 17th St., [ v V
Edwin S. Beall,
Tulsa, Okla.
l/ P . 0. Box 97
Los fiatos, Calif.

i
y

Opie I . Dawson,
9852 20th S. W.
Seattle, Wash.

r

^ ^ ¡ P i chard H. Wei ton,
/ o ^ ^ 5 4 Page Street,
UP istoughton, Mass.

H

George T. Grottie,
56 Cornwall Street,
tratford, Conn.

Joseph B. Perkins,
¡ h , (>■
94 Armington Street,
C ranst on, Rhode I sland •

William C. Slaughter,
/
306 Georgina Avenue, if
Santa Monica, Calif.

William E. Baldwin,
.
/ ^ 6 3 Maple Avenue,
Lr
(¿^¿/Glenbrook, Conn.

Cyril V. Storer,
Wyckoff Avenue,
Ramsey, New Jersey.

Frederick C. Munchmeyer, j
/T\5433 4th Street, N. W., ^
U ’/Washington, D. C.

Barnes W. Moreau,
R.F.D. 1,
Glenwood, Minn.

Glenn E. Murphy,
•TA N
807 Thirty-Fourth St.N.E.
* Washington, D. C.
/W

Wallace C. Magathan, Jr.,
7401 Blair Road, N. W.,
Washington, D. C.

i /

Adrian M. O’ Beck,
olland Coast Guard Station,
iacatawa, Michigan.

Louis A. Volse,
; ✓
5214 Packard Street, XS
Los Angeles, C alif.
George P. Grieshaber,
0
912 Chestnut St.
Union, New Jersey.

Albert A. Heckman,
1129 Chestnut St.
Reading, Pa.

^

Harry E. Haff, Jr.
.67 Avon Place,
% ^Springfield, Mass.

Marcus H. McGarity,
1326 Anderson 'Street,
^brlando, Florida.*
At

Frederick A. Goettel,
2635 Normandie,
Spokane, Washington.
Kenneth M. Hammer,
Lake Preston, South Dakota.
Clyde C. Roshon,
2570 Morse Road,
Westerville, Ohio.
Charles E. Norton,
^?32 Forest Street,
Ann Arbor, Michigan.
rfl
James W. McGary,
634 South Ray Street

o

For

immediate release

Rear Admiral
the U n i t e d S t a t e s
eighty-eight

Coast

W a e s c h e , C o m m a n d a n t of

Guard,

n ew cadets w ho

Coast

R.

t o d a y a n n o u n c e d the n a m e s of
y as
c l a s s o f 1943
a s s e m b l e d this I S O ^ T M u S ^ a T ^ t h e " '

Guard Academy at N e w London,
The new

Conn.^ai»®**1
»

c l a s s r e p r e s e n t e d t h e t o p contestant]

p h y sically and mentally,

of

competitive

f o r a d m i s s i o n t o t h e A c a d e m y t h a t were

examinations

g i v e n in June

1,250 y o u n g m e n w h o t o o k the

in co-operation with the Civil Service
The

successful candidates

as c a d e t s a r e as f o l l o w s :

open

Commission

for appointment

TREASURY DEPARTMENT
Washington
FOE IMMEDIATE RELEASE
Monday, August 14. 1939

Press Service
No* IS—46

Real' Admiral R, R, Waesche, Commandant of the United States Coast Guard,
today announced the names of eighty—eight new cadets who assembled this
morning as the class of 1943 at the Coast Guard Acadeny at New London, Conn,
The new class represented the top contestants, physically and mentally,
of 1,250 young men who took the open competitive examinations for admission
to the Academy that were given in June in co-operation with the Civil Service
Commission,
The successful candidates for appointment as cadets are as follows.
CALIFORNIA
Edwin S, Beall
P, 0, Box 97,
Los Gatos
Robert J, Clark,
505 North First Street
Alhambra
Roderick L. Harris,'
5060 Bancroft Drive,
La Mesa
Gerhard K, Kelz,
416 North Sultana Avenue
Temple City
William C. Slaughter
306 Georgina Avenue,
Santa Monica
Louis A. Volse,
5214 Packard Street
Los Angeles
Kenneth E, Wilson,
1034 West 36th Street
Los Angeles
COLORADO
Herbert Anderson,
965 Pennsylvania Street
Denver

CONNECTICUT
William E, Baldwin
63 Maple Avenue,
Glenbrook
Fletcher % Brown, Jr.,
15 Niles Hill Road,
New London

William C. Gordon,
Granby
George T. Grottle,
56 Cornwall Street
Stratford
Charles Zelinsky
24 Goshen Street
New London
DISTRICT OF COLUMBIA
Ernest H. Burt, Jr.,
14 13 Shepherd Street, N. W.,
Wallace C, Magathan, Jr,,
7401 Blair Road, N. W.
Frederick C. Munchmeyer,
5433 4th Street, N, W.
Glenn E. Murphy,

307 Thirty-Fourth

Street, N.E

- 2 -

FLORIDA
Willard L* Hendershott,
Naranja
Marcus H* McGarity,
326 Anderson Street,
Orlando
ILLINOIS
George F. Breitwieser, Jr*,
700 North 32nd Street,
East St* Louis
MARYLAND
James W* Christman,
6000 York Road,
Baltimore
Wilfred N. Derby, Jr.,
418 East Leland Street,
Chevy Chase
Benjamin H* McCracken, Jr*,
64. First Avenue,
Frostburg
MASSACHUSETTS
John E* Day,
131 State Street,
Boston
Roger H* Banner,
Center Street,
Segreganset
Richard L* Fuller,
Main Street,
Lancaster
Harry E. Haff, Jr*,
67 Avon Place,
Springfield
Charles G. Kolodzinski,
93 Lake Street,
Florence
John J* Malloy,
20 Pine Grove Street,
Milton
Robert B* Moore,
33 Kent Street,
Brookline

MASSACHUSETTS (Cont'd)
Theodore C. Rapalus,
103 Cottage Street,
Easthampton
James F. Redford, Jr,,
78 Auburn Street,
Haverhill
Stanley H# Rice,
60 Stevens Road,
Needham
Richard H* Weiten,
354 Page Street,
Stoughton
MICHIGAN
Adrian M* O fBeck,
Holland Coast Guard Station,
Macatawa
'Charles E. Norton,
732 Forest Street,
Ann Arbor
MINNESOTA
James Yf* Moreau,
R.F.D* No* 1,
Glenwood
MISSOURI'
George C. Fleming,
2623 Louisiana Avenue,
St* Louis
NEW JERSEY
Peter J* Butvidas,
6 Yale Street,
Nutley
George P. Grieshaber,
912 Chestnut Street,
Union
Curtis R* Peck,
28 Newfield Street,
East Orange
Cyril V. Storer,
Wyckoff Avenue,
Ramsey

- 3 -

WKW YORK
William E* Baird,
10 Woodward Avenue,
Gloversville
Carl Blanchett,
370 Demorest Avenue,
Staten Island
Leroy A* Cheney,
9101 219 Street,
Queens Village
Fernando J • Fernandez,
274. Dean Street,
Brooklyn
Eugene L* Hall,
250 South Fourth Avenue,
Ilion
William N* Hayton,
P* 0, Box 266,
Aurora
Harold J. Henrich,
8934 U S Street,
Richmond Hill
Thomas L* Ketcham,
15 Grimm Place,
Baldwin
Robert J • LoForte,
1 Cottage Street,
Monticello
Francis X. Riley,
84 Autumn Avenue,
Brooklyn
John E. Romatowski,
17 Yonkers Avenue,
Yonkers
Charles W* Scharff,
Düne Deck,
Westhampton Beach
Lothar H* Schmidt,
25 Prospect Street,
New Rochelle

NEW YORK (C0NT!Dl
Douglas D* Vosler,
157-32 27th Avenue,
Flushing
George S* West, Jr*,
1134 Wadsworth Street,
Syracuse
David W* Woods,
96 Lake Avenue,
Yonkers
Richard E. Wright,
Thendara
NEBRASKA
Clinton E* McAuliffe,
Chappell
NORTH CAROLINA'
John M# Waters, Jr*,
306 Whitehead Avenue,
Wilson
OHIO
James D* Luse,
11326 Hessler Road
Cleveland
Donald H* Luzius,
R. R* 7,
Toledo
Theodore S, Pattison, Jr
6 Huron Road, Story Plac
Chillicothe
Clyde C. Roshon,
2570 Morse Road
Westerville
Kenneth E* Webb,
Garrettsville
George J# Yost,
2266 Glenridge Road,
Euclid
OKLAHOMA
Charles E* Cole,
7 West 17th Street,
Tulsa

4

-

VIRGINIA
Ward J.~Davies,
II Nealy Avenue,
Langley Field

OREGON
Howard Keym,
2827 NE 20th Avenue,
Portland

Hersey C. Forehand,
68 D View Avenue,
Norfolk

PENNSYLVANIA
George T. Beemer,
328 Bedford Street,
Clarks Suimnit

Julian R. Raper, Jr.,
1508 Chesapeake Avenue,
South Norfolk

Albert A. Heckman,
1129 Chestnut Street,
Reading

Edward D* Scheiderer,
Naval Academy Prep Class
Naval Operating Base,
Norfolk

William J. Kilkenny,
367 Dawson Street,
Philadelphia

Frank C* Schmitz,
Naval Academy Prep Class
Naval Operating Base,
Norfolk

James ¥. Me Gary,
634 South Ray Street,
New Castle
RI-IQDE ISLAND
Lavirence C, Miller,
264 Massachusetts Avenue,
Providence

WASHINGTON
Opie L. Dawson,
9852 20th S.W.,
Seattle

Joseph B. Perkins,
94 Armington Street,
Cranston

Harold T. Hendrickson,
Route 3, Box 33,a
Mount Vernon

SOUTH DAKOTA
Kenneth. LA Hammer,
Lake Preston

Robert J# Wescott,
Box 123,
Kirkland,

TEXAS
Leslie B. George,
812 Kentucky Street,
Amarillo

Walter A. Wright,
4201 12th Avenue, N. E.
Seattle
Frederick A* Goettel,
2635 Normandie,
Spokane
CANADA
Francis G* Bartlett,
Mono Road,
Ontario, Canada.

— 0O0—

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
JULY. 1939

Name and Location of Bank:

Total
Disbursements
Date of Including
Failurei Offsets Allowed:

First National Bank
Martinsville, Indiana
6-27-32
First National Bank
Montpelier, Indiana
10-3-33
Cedar Rapids Nat*l Bank
Cedar Rapids, Iowa 1/ 2/ 1-23-34
First National Bank
Sodus, New York
1-12-33
First National Bank
Glen Campbell, Pa.
12-7-31
Henderson Natfl Bank
Henderson, Kentucky
6-11-3 2
Farmers Nat*l Bank
10 -12 -3 1
Leechburg, Pa*
First National Bank
Orbisonia, Pa.
10-5-31
Yardley National Bank
Yardley, Pa.
3-7-34
First National Bank IN
Alexandria, S. Dakota
9-11-31
First National Bank
West Allis, Wisconsin
2-9-34
2/

Per Cent
Total Dis­
bursements
to Total
Liabilities

Per Cent
Capital
Dividend
Stock at
Declared
Date of
to All
Claimants: Failure:

# 707,645.00

73.96 %

55.05 % $ 100 ,000.00

362,547.00

87.91 %

68.9 %

1,783,792.00

100 .

%

50,000.00

30.8863$$ 600,000.00

Cash, Assets
Uncollected Stock
Assessments, etc«
Returned to share­
holders:________
$

000
000

722,430.00

483,307.00

54.61 %

25.66 %

60 ,000.00

000

279,454.00

64.03 %

48.27 %

100 ,000.00

000

1,273,462.00

99.66 %

10 0 .11 %

200,000.00

000

540,401.00

89.01 %

88.33 %

50 ,000.00

000

361,425.00

75.61 %

75.5 %

50,000.00

000

%

103.95 %

12 5 ,000.00

000

317,528.00

71.72 %

54.35 %

50,000.00

000

1,746,966.00

90.82 %

87.5 %

150 ,000.00

000

5 1 1 ,915.0 0

102 .

Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold,
or to complete unfinished liquidation.
2/ Shareholders'*Agent elected to continue liquidation after payment by Receiver of principal and interein full to creditors.
A yy
2/ Sole creditor of receivership paid 100 percent principal and interest in full thru princ

TREASURY DEPARTMENT
Comptroller of the Currency
Washington

1 1 -

■

/;

FOR RELEASE. MORNING NEWSPAPERS
ctj 3 1 /

During the month of July, 1939, the liquidation of eleven
receiverships was completed and the affairs thereof finally closed.
This makes a total of 1,333 receiverships finally closed or restored
to solvency since the Banking Holiday of March, 1933*
Total disbursements, including offsets allowed, to depositors
and other creditors of these 1,3 3 3 receiverships, exclusive of the
forty-two restored to solvency, aggregated $585 ,805,333*00, or an
average return of 81.07 per cent of total liabilities, while unse­
cured creditors received dividends amounting to an average of 68.37
per cent of their claims.
Dividends distributed to creditors of all active receiverships
during the month of July, 1939, amounted to $2,870,698.00. Total
dividends paid and distributions to depositors of all receiver­
ships from March 16 , 1933, to July 31, 1939, amounted to $946,350,079*00
Data as to results of liquidation of receiverships finally closed during
the month are, as follows:

TREASURY DHPiJEiTMSNT
Comptroller of the Currency
Washington

ÏOR m . H A S ji!. MOBHIHO HEWSPiPERS,
Wednesday* August 16, 1939*
8/14/397

Pf.ess1^ I iCe
îi0*

^

During the month of July, 1939, the liquidation of eleven
receiverships was completed and the affairs thereof finally closed.

This

makes a total of 1,333 receiverships finally closed or restored to solvency
since the Banking Holiday df March, 1933.
Total disbursements, including offsets allowed, to depositors and
other creditors of these 1*333 receiverships, exclusive of tne forty two
restored to solvency, aggregated $585,805,833.00, or an average return of
81.07 per cent of total liabilities, while unsecured creditors received
dividends amounting to an average of 68.37 per cent of their claims.
Dividends distributed to creditors of all active receiverships
during the month of July, 1939, amounted to $2,870,698*00.

Total dividends

paid and distributions to depositors of all receiverships from March 16, 1933,
to July 31, 1939, amounted to $946,350,079.00.

Data as to results of

liquidation of receiverships finally closed during the month are, as follows.

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTOKED TO SOLVENCY DURING THE MONTH OF
_______________ july. lq^q
_____________

Date of
Name and Location of Bank: Failure;
First National Bank
6- 27-32
Martinsville, Indiana
First National Bank
Montpelier, Indiana
10-3-33
Cedar Rapids Nat’ l Bank
Cedar Rapids, Iowa 1j 2 / 1-23-3'1
First National Bank
Sodus, New York
1 - 12-33
First National Bank
Glen Campbell, Pa.
12 - 7 -3 1
Henderson Na^l Bank
6- 1 1 -3 2
Henderson, Kentucky
Farmers Nat'l Bank
10 - 12 -3 1
Leechburg, Pa.
First National Bank
10 - 5 -3 1
Orbisonia, Pa.
Yardley National Bank
3 - 7- 3U
Yardley, Pa.
First National Bank IN
Alexandria, S. Dakota
9- 1 1 - 3 1
First National Bank
2- 9- 3 U
West A llis, Wisconsin
1/
2/
37

Total
Disbursements
Including
Offsets Allowed:

$

Per Cent
Total Disbursements
to Total
Liabilities:

Per Cent
Dividend
Declared
to All
Claimants:

Capital
Stock at
Date of
Failure:

Cash, Assets
Uncollected Stock
Assessments, etc.
Returned to shareholders:_______

70 7 ,6*15.00

7 3 .9 6

i

55.05 i $ 100,000.00 1

362 ,5 *4 7.00

8 7 .9 1

t

6S.9

$

30.8863^ 600,000.00

1.7S3.792.00

100.

Ì:

50,000.00

000
000
722,*130.00

3 ,307.00

5 *'.61

%

25.66 #

60,000.00

000

279 ,V l . 00

6*1.0 3

i

*18.27 io 100,000.00

000

1 ,273 ,**62.00

99.66

#

100.11 io 200,000.00

000

5*1-0y>101.00

89 .OI

lo

38.33 io

50,000.00

000

3 6 1 ,*125 .00

7 5 .6 1

$

75.5

io

50,000.00

000

103.95 io 125,000.00

000

50,000.00

000

io 150,000.00

000

^

5 1 1 ,915.0 0

10 2 .

io

3 1 7 ,528.00

7 1 .7 2

io

5u-35 io

1 ,7 *16 ,966.00

90.82

io

87-5

Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold,
or to complete unfinished liquidation.
Shareholders’ Agent elected to continue liquidation after payment by Receiver of principal and interest
in fu ll to creditors.
.
Sole

c r e d i t o r of
percent

22 .92'1

r e c e i v e r s h i p p a i d 1 0 0 p e r c e n t p r i n c i p a l a n d i n t e r e s t in f u l l t h r u p r i n c i p a l d i v i d e n d s oi
and. p a r t i a l i n t e r e s t d i v i d e n d s of 7-9623 p e r c e n t , p l u s o t h e r n o n — d i v i d e n d c a s h p a y m e n t s .

PRESS RELEASE

«fhff Acting Commissioner of Customs announced today that
preliminary reports from the collectors of customs show that entries
for consumption and withdrawals from bonded pastures for consumption
have been accdpted covering cattle subject to the quota provisions of
the Canadian Trade Agreement, as follows:
Imported During :
Period___ :
July 1 to Aug.
5 , 1939

Class o f Cattle

:
Percent of
: Tariff Rate $uota

Cattle weigiing 700 pounds
or more each, other than
dairy cows:
from Canada

Jan. 1 to Aug.
12, 1939

:
s Head

29,630 57.3% of quota
for third quarter
of calendar year

irrosn other countries

7,091

85.6% o f quota
for third quarter
of calendar year

Cattldlwelghihg
than 200 pounds each

94,135

94.1% of quota
for calendar year

-ooOOoo-

TREASURY DEPARTMENT
líashing ton

FOR ^MEDIATE RELEASE
Monday. August 14-« 1939

Press Service
No. 18-48

The Acting Commissioner of Customs announced today that preliminary
reports from the collectors of customs show that entries for consumption
and withdrawals from bonded pastures for consumption have been accepted
covering cattle subject to the quota provisions of the Canadian Trade
Agreement, as follows %

Imported During“
%
Period______ :_____ Class of Cattle_____ ;
July 1 to Aug.
%

1939

s
;

Percent of
Tariff Rate Quota

Cattle vreighing 700 pounds
or more each, other than
dairy cows %
From Canada

From other countries

Jan. 1 to Aug.
12, 1939

Head

Cattle weighing less
than 200 pounds each

-0O0—

29,630

57.3$ of quota
for third quarter
of calendar year

7,091

85.6$ of quota
for third quarter
of calendar year

94,135

94*1$ of quota
for calendar year

yOB RSLKAS1, MOH8TOO ITOSPAPlffiS,
Tuesday, August 15, 19S9»

8/14/39
Tin# Secretary of the Treasury announced last evening that the
tendsrs for * 100 ,000 ,000 , or tbara&boutB, of 91-4ay T t o m u i t bills, to
to data« Aagaat 16 and to matur. Ror-mbar I S , 1 » 9 . which » « » off.rad
oa Auguat 11, were opanad at tha m o r a l Haaarra baaka oa August 1*.
The details of this iaaua are as follow!«

Total applied for
Total accepted

*
*

!$£42,224,000
100,104,000

Bang# of accepted bidet

Low
Average price
(35 psreaat of tha aaoont bid for at the low price was aeeepted)

56

perel

TREASURY DEPARTMENT
Washington
Press Service
No. 18-49

FOR RELEASE, MORNING n e w s p a p e r s
Tuesday, August 15. 1939_______
8/14/39

The Secretary of the Treasury announced last evening that the tenders
for $100,000,000, or thereabouts, of 91-day Treasury bills, to be dated
August 16 and to mature November 15* 1939, which were offered on August 11,
yrere opened at the Federal Reserve banks on August 14#
The details of this issue are as follows:
Total applied for - $242,224,000
Total accepted
- 100,104,000
Range of accepted bids:
High
Low

— 100#
_ 99*991

Average- price

(35

—

99*992

+■
Equivalent rate approximately 0#03o percent
n

"

0*032

percent of the amount bid for at the low price was accepted)

—oOo*—

TREASURY DEPARTMENT
Washington

Press Service

Market transactions in Government securities for Treasury investment
accounts in

Êê ' |1939,

3/<
h) t1?!} CüP^û
~n
vfeV "
•s/

's, v u ij

m

resulted in net purchases of «iPLjiliiU jliTiüj 'SecretaryA

jau announced today.

— 101—

7

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Tuesday, August 15« 1939»

Press Service
N°* 18-50

Market transactions in Government securities for Treasury
investment accounts in July, 1939, resulted in net purchases of
$3,000,000, Acting Secretary Hanes announced today.

-oOo—

uniformity of practice throughout the service.

During the past year

the District Chief National Bank Examiners for the Tenth and Twelfth
Federal Reserve Districts have been rotated, and new District Chief
National Bank Examiners appointed for the Fifth and Ninth Federal
Reserve Districts.
Each of the Chief National Bank Examiners affected by this
present change has had at least eighteen years of experience on the
national bank examining force.

Three of the examiners affected by

the present change have held the position of Chief National Bank Exam­
iner in at least one other Federal Reserve District prior to holding
their present positions, and one of them was Deputy Comptroller of the
Currency for a period of five years.

FOR RELEASE - MORNING PAPERS, AUGUST 17, 1939.

/?-//

Preston Delanoj[ Comptroller of the Currency/today
announced transfers

five District Chief National Bank Exam­

iners, effective October 1, 1939.
F.

D. Williams, now Chief National Bank Examiner fo

First Federal Reserve District, with headquarters at Boston, will become
the Chief National Bank Examiner for the Sixth Federal Reserve District,
with headquarters at Atlanta.

d^L.

K. Roberts, now Chief National

Bank Examiner for the Second Federal Reserve District, with headquarters
at New York, will become the Chief National Bank Examiner for the First
Federal Reserve District, with headquarters at Boston,

S. L. Neraham,

now Chief National Bank Examiner for the Third Federal Reserve District,
with headquarters at Philadelphia, will become the Chief National Bank
Examiner for the Fourth Federal Reserve District, with headquarters at
Cleveland .

A. P. Leyburn, now Chief National Bank Examiner for the

Fourth Federal Reserve District, with headquarters at Cleveland, will
become the Chief National Bank Examiner for the Third Federal Reserve
District, with headquarters at Philadelphia.

Gibbs Lyons, now Chief

National Bank Examiner for the Sixth Federal Reserve District, with head­
quarters at Atlanta, will become the Chief National Bank Examiner for the
Second Federal Reserve District, with headquarters at New York.
These changes are being made in accordance with the established
policy of the Comptroller of the Currency of rotating the District Chief
National Bank Examiners.

This rotation will broaden the experience of

the individual Chief National Bank Examiner and will contribute to greater

Treasury Department
Comptroller of the Currency
Washington

FOR RELEASE, MORNING NEWSPAPERS
Thursday. August 17« 1939*_____

Press Service
No* 1&-51

Comptroller of the Currency Preston Delano today announced transfers of
five District Chief National Bank Examiners, effective October 1, 1939.
F. D. Williams, now Chief National Bank Examiner for the First Federal
Reserve District, with headquarters at Boston, will become the Chief National
Bank Examiner for the Sixth Federal Reserve District, with headquarters at
Atlanta.
L* K# Roberts, now Chief National Bank Examiner for the Second Federal
Reserve District, with headquarters at New York, will become the Chief National
Bank Examiner for the First Federal Reserve District, with headquarters at
Boston*
S. L. Newnham, now Chief National Bank Examiner for the Third Federal
Reserve District, with headquarters at Philadelphia, will become the Chief
National Bank Examiner for the Fourth Federal Reserve District, with headquarters
at Cleveland.
A. P, Leyburn, now Chief National Bank Examiner for the Fourth Federal
Reserve District, with headquarters at Cleveland, will become the Chief National
Bank Examiner for the Third Federal Reserve District, with headquarters at
Philadelphia.
Gibbs Lyons, now Chief National Bank Examiner for the Sixth Federal Reserve
District, with headquarters at Atlanta, m i l become the Chief National Bank
Examiner for the Second Federal Reserve District, with headquarters at New York.
These changes are being made in accordance with the established policy
of the Comptroller of the Currency of rotating the District Chief National Bank

Examiners 1

This rotation will broaden the experience of the individual Chief

National Bank Examiner and will contribute to greater uniformity of practice
throughout the service*

During the past year the District Chief National Bank

Examiners for the Tenth and Twelfth Federal Reserve Districts have been rotated,
and new District Chief National Bank Examiners appointed for the Fifth and
Ninth Federal Reserve Districts*
Each of the Chief National Bank Examiners affected by this present change
has had at least eighteen years of experience on the national bank examining
force.

Three of the examiners affected by the present change have held the

position of Chief National Bank Examiner in at least one other federal Reserve
District prior to holding their present positions, and one of them was Deputy
Comptroller of the Currency for a period of five years.

- 0O 0—

\/
H

The Subcommittee of the Ways and Means Committee of the
House of Representatives has been instructed (H. Res. 277) to
make a thorough study of internal revenue taxation during the
recess of the Seventy-sixth Congress.
,K
The Chairman of this Subcommittee, Mr. Jere Cooper, is
desirous of having all pertinent material ready for presentation
early in the next session of the Congress. With the approval of
his Committee, I am writing to ask your cooperation in this
effort to work out a tax revision program which will further
improve the laws relating to individual and corporation taxes,
the regulations derived therefrom and the administrative pro­
cedure in their collection.

S h cjJr

^ I f you - or any organization4with which you are connected should he interested in having your views placed before the
Committee in full, I shall he glad to arrange, at a time con­
venient to you before November 1st, a private hearing before the
Treasury staff assigned to compile a record of present public
x t a x opinion. Your views will receive every consideration and
P-w411 appreciate your help.
IIC;
'-'This is our common problem and a successful effort toward
its solution will depend largely on our mutual and sympathetic
understanding of the questions that confront both the Government
and the taxpayer.

Yours very truly,

John W. Hanes,
Acting Secretary of the Treasury

Name
Address

/ i - i v
F or immediate release,
T h u r s d a y , A u g u s t 17, 1 9 3 9 »

A c t i n g S e c r e t a r y H a n e s t o d a y m a d e p u b l i c the
text

of

a letter

and l e a d e r s

he

in industry,

labor,

a n d the

professions

revenue

t a x a t i o n * ^ Mr* Hanes

on November
the

to o r g a n i z a t i o n s

commerce*

banking,

£o request their vie w s

in order t o have a rec o r d
Subcommittee

is s e n d i n g

of t h e W a y s

of

is a s s e m b l i n g
"public

tax

on internal
the

information

o p i n i o n ” f o r the

and M e a n s C o m m i t t e e w hen

1 to b e g i n t h e

recess

agriculture|

it assembles

s t u d y a s s i g n e d to

Seventy-sixth Congress*
The text

of the

letter

is as

follows:

it by

TREASURY DEPARTMENT

Washington
Press Service
No. 18-52

FOR BïMEDIATE RELEASE,
Thursday. August 1 7 », 1939»

Acting Secretary Hanes today made public the text of a letter he is sending

j

organizations and leaders in industry, labor, commerce, banking, agriculture

md the professions to request their views on internal revenue taxation.
Mr. Hanes is assembling the information in order to have a record of "public
tax opinion" for the Subcommittee of the Ways and Means Committee when it assembles
on November 1 to begin the recess study assigned to it by the Seventy-sixth
Congress,
The text of the letter is as follows;
"The Subcommittee of the Lays and Ifeans Committee of the
House of Representatives has been instructed (H. Res. < It) .o
make a thorough study of internal revenue taxation during the
recess of the Seventy— sixth Congress.
"The Chairman of this Subcommittee, Mr. Jere Cooper, is
desirous of having all pertinent material ready
presentation
early in the next session of the Congress. With the approval o
his Committee, I am writing to ask your cooperation in this
effort to work out a tax revision program which Tn.ll further
improve the laws relating to individual and corporation taxes,
the regulations derived therefrom and the administrative p
cedure in their collection.
"If you - or any organization with which you are connected
should be interested in having your views placed before the
Committee in full, I shall be glad to arrange, at a time con­
venient to you before November 1st, a private nearing before the
Treasury staff assigned to compile a record of present public
tax opinion. Your views will receive every consideration and
I shall appreciate your help.
"This is our common problem and a successful effort toward
its solution will depend largely on our mutual an - s^pavernment
understanding of the questions that confron
o
and the taxpayer.
I sihall await your answer with interesi
- 0O0—

TREASURY EEPARTMENT
Yfashington
Press Service
No. 18-52

FOR IMMEDIATE RELEASE,
Thursday. August 17« 1939»

Acting Secretary Hanes today made public the text of a letter he is sending
to organizations and leaders in industry, labor, commerce, banking, agriculture
and the professions to request their views on internal revenue taxation.
Mr. Hanes is assembling the information in order to have a record of "public
tax opinion" for the Subcommittee of the Ways and Keans Committee when it assembles
on November 1 to begin the recess study assigned to it by the Seventy-sixth
Congress.
The text of the letter is as follows;
"The Subcommittee of the Ways and Keans Committee of the
House of Representatives has been instructed (H*
* ,
the
make a thorough study of internal revenue taxation dur g
recess of the' Seventy-sixth Congress.
"The Chairman of this Subcommittee, Hr. Jare C o o p » , j V
desirous of having all pertinent material
early in the next session of the Congress.
his Committee, I am writing to ask your c o o p e r a t :^ t h e r
«■■pfVwt +n ,„nT,v out a tax revision program which will iuruner
imorove
laws r e l a t S g to individual and corporation taxes,
the regulations derived therefrom and the administrative procedure in their collection.
"If you - or any organization with w h i c h Z Y b e f o r Y t h e ^
should be interested in having
eR b f t S e conCommittee in full, I shall be glad o ar
^
.
before the
venient to you before Eovember 1st, a p r t w t
Treasury staff assigned to^coTpile a record
and
tax opinion. Your views will receiv
1 shall appreciate your help.

y

"This is our common problem and a successful effort toward
This is our common P
mutual and sympathetic
its solution will depena
v
,
+Vip Government
understanding of the questions that confront both the Covernm
and the taxpayer.
shall await your answer with interest.

- 0O0—

o i^ ^ a g a o ^ i^ a iid .

H . g t b i X ILt>^l08

Of

Pfitt/Í.QTI8>1.

Page 2

IjQjfifc8 “* OÖÄ^J Xïï\10(

(In thousands of dollars)
Mar. 29 ,
1939

June 30 ,
1939

June 30 ,

1938

Increase or decrease
since March 29, 1939
Amount
1
Percent

Increase or decrease
since June 30. 1938
Amount
Percent

LIABILITIES - Continued
Postal savings deposits............................... {[
4o,946
Deposits of TJ. S. Government..........................
50 2,312
Deposits of States and political subdivisions........
2 ,290,992
Deposits of banks......................................
4,882,437
Other deposits (certified and cashiers' checks, etc.). .... 443,678
Total deposits............................
29,4691469.
Bills payable, rediscounts, and other liabilities
for borrowed money..................................
3,540
Other liabilities...................................... .
318,057
Total liabilities (excluding capital
accounts).... A ........................
29.791,066

$

46,681
534,314
2,175,390
4,777,667

$

73,066
394,272

290.279
28 ,16 9 ,2 5 1

3 4 4 ,16 7
2 6 ,8 15 ’ 894

-5,735
- 32,002
115,602
104,770
153.399
1.300.218

5,980
307,966

9,586
278.261

-2,440
10.091

28,483,197

27,103,741

1,307,869..

1,565,333

1,572,900
1,118,413
582.506
3,273,819
30 .377.560

2,106,342
4,211,101

$

- 12 .2 9
- 5.99

$

- 3 2 ,12 0
108,040

-H 3.96
27.40
5 .3 1
184,650
8.77
2 .1 9
671,336
15-9**
___52,85_____ .9.9,51.1___ 28.91
4762
9.90 _
2.653,575
-40.80
3.28

-6,046
39,796

-63.07
14.30

4.59

2,687,325

9.91

-2,377

-9,944

-.6 3

10 ,936

52,409

CAPITAL ACCOUNTS
Capital stock
............................
Surplus................................................
Undivided profits and reserves........................
Total capital accounts....................
Total liabilities and capital accounts....

1,562,956
1,170,822
655,734
3,389,512
33,120,578

1 ,159,886
635.980
3,361,199
31.844,396

73.228
115,693
2.803.018

19.754
28,313
1.336,182

4 .2 0

248,885
17,210
1.311.326
1.577,tel

-3,603
-U27

- 1 .5 4
-2.ÿt

878
- 3 ,1 5 2

-.20

-ll,Ul8

-3,307
-397
-3,704

- 1*25
-2.11
-1.31

-5,351
-662
-6 . 0 1 3

3.11
.84

4.69
12.57
. 3.53
9.23 _

MEMORANDA
Par value of capital stock:
Class A preferred stock..........................
Class B preferred stock.........................
Common stock.....................................
Total......................................
Retirable value of preferred capital stock:
Class A preferred stock.........................
Class B preferred stock.........................

Eatio of loans to total deposits............... Percent
NOTE:

Minus sign denotes decrease.

2 3 0 ,15 6
1 6 ,4 1 7

1 .319,430
1 ,566,003

233,759
16, & 4
1,318,552.
1.569,155

261,585
18,408
___ 279,993

264,892
18,805
283,697

266,936

29 .O9

3O.O 6

3I.OS

1 9 ,0 7 9

286.006

.0 7

-18,729

¿ 3

-7.53
-U .6 1
.62
-.72
- 2.00
- 3 .4 7 ,
-2.10

Statement showing comparison of principal items of assets and liabilities of active national banks
June 30, 1939, March. 29 , 1939 and June 30, 1938.
(In thousands of dollars)

June 30 ,
1939

Mar. 29,
1939

June 30 ,
1938

Increase or decrease
since March 29. 1939
Amount

Increase or decrease
since June 30. 1938

Percent

lîumber of hanks............................ .... 5,209 ________ 5,218_______ 5 .21*8________ -9 ________ . . 1 7
ASSETS
Loans and discounts, including rediscounts and
overdrafts:
Loans on real estate..................... .$ 1 ,829,163
$ 1 ,770 ,12 8
$ 1 ,626,500
3 .3 4
$ 59,035
Other loans, rediscounts and overdrafts..... . 6 .7l+l+.5l+0
6.708.124
46.188
6.698,352
.69
Total loans....... ...............
8,468.480
8,334.624
10 5,223
1.24
.■__8,573,703
U. S. Government securities:
Direct obligations......................
. 6,899,885
38,308
6 ,8 6 1,5 7 7
6,510,357
.5 6
Obligations fully guaranteed..............
. 1,869,81+4
1 ,7 12 ,2 0 7
9 .2 1
1,477,359
1 5 7 ,6 3 7
Obligations of States and political subdivisions.... . 1 ,693 ,68!+
1,426,881
1 .6 7
l,665,9U
2 7 ,7 7 3
Other bonds, notes and debentures............... . l, 86l+,354
1 ,889,166
-24,812
- 1 .3 1
1,954,393
Corporate stocks, including stock of Federal Reserve
banks.................................... . __ 2 2 5 ,1 19 _____ 226,435
275,286
-.58
-1.316
Total investments..................
..„12,552,886
12.355,296 . 11,644,276
1.60
197,590
Total loans and investments.......... ...21,126,589
19,978,900
1 .U5
20,823,776
302,813
Currency and coin............................
574,889
528,305
530,580
-44,309
- 7 .7 1
Reserve with Federal Reserve banks......... ....
4,618,177
. 5,640,067
494,280
9 .6 1
5,145,787
Balances with other banks...:..................
14.21
• 4,901+, 159 ... 4,294,090
4,304,073
610.069
Total cash, balances with other banks, including
reserve balances, and cash items in process of
collection................................
. 11,074,806
i,o6o.o4o
10.58
10.014 ,76 6
9,450,555
Other assets................................
1 ,005,854
948,105
- 2 6 ;6 71
„..9.79,183
-2.65
Total assets......................
3l|844^396 . 30 ,.377,560
1 ,336)182
4 .2 0
■ 33.180,578
LIABILITIES
Deposits of individuals, partnerships and corporations:
Demand.................................... 13,61+3,678
12,762,685
12,138,01+7
880,993
6.90
Time....................................
7 ,665 ,1+26
7 ,582,235
7,5*18,899
8 3 ,19 1
1 .1 0

Amount

| Percent

.3 9 ______ -jrl*

$

202,663
3 6 .4 16
„ 239,079
389,528
392,485
266,803
-90,039
-50.167
908)610
1 ,147)689

2 ,2 7 5
1 ,021,890
600,086

1 .624 .2 51
3 1 ,07 s
2,803,018

1 ,505,631
116 ,5 2 7

12.46
»54
2.87
5.98
26.57

18 .7 0
-4.61
-18.22
7.80

5 .7 4
.4 3
22.13
13.94

17.19
3.28
■ ■■9 .2 3 ..

12.1+0
1 .51+

twelve month periode of $ 19 5 ,9^ 5,000 and $ 782 ,0 13 ,000, respectively,

The

direct and indirect obligations held on June 30 , 1939 , were $ 6 ,899 ,885,000 andl
$1,869,844,000, respectively.

Other bonds, stocks, and securities held total-

lnS $3,783,157,000, which included obligations of States and political sub­
divisions of $1,693,684,000, increased $1,645,000 since March and $126 ,597 ,000]
in the year#
Cash of $530,5^0,000, balances with other banks and cash items in process
of collection of $^,90^,159,000, and reserve with Federal Reserve banks of
$5,6^,067,000, a total of $11,07^,806,000, increased $1,060,0^,000 and
$ 1 ,62^, 251,000 in the three and twelve month periods, respectively.
The unimpaired capital stock on June 30, 1939, was $1,562,956,000, which
included class A preferred stock of $230,156,000 and class B preferred stock
of $ 1 6 ,^1 7 ,000.
Surplus of $1,170,822,000, undivided profits of $^+9,352,000, and reserves
of $206,382,000, a total of $1,826,556,000, increased $30,690,000 since March,
and $125,637,000 since June, 1938.
Bills payable, rediscounts, and other liabilities for borrowed money ag­
gregating $3,540,000 decreased $2,440,000 since March and $6,046,000 in the
year.
The percentage of loans and discounts to total deposits on June 30, 1939,
was 29-09, in comparison with 30.06 on March 29 , 1939, and 31.08 on June 30,
1933-

TREASURY DEPARTMENT

Comptroller of the Currency
Washington
FOR RELEASE

/w .| fy\ I ¿ ^ f

EESSS SEEVIOI

14

#
Comptroller of the Currency Preston Delano announced today that the total
assets and total deposits of national hanks in the continental United States,
Alaska, Hawaii, and the Virgin Islands of the United States on June 30, 19 3 9 ,
the date of the last call for condition reports, continued to increase in vol­

ume and were greater than on any previous call date in the history of the
National Banking System*
The total assets of the 5,209 active hanks were $33,180,578,000, an in­
crease of $1,336,182,000 over the amount reported hy the 5,218 active w .
on March 29 , 1939 , the date of the previous call, and an increase of $2,803,018,000 over the amount reported hy the 5,2*5 active hanks on June 30 , 1938 ,
the date of the corresponding call a year ago.
The deposits on June 30 , 1939 , aggregated $29,¡*69,^69,000, exceeding hy
$1,300,218,000 and $2,653,575,000 the amounts reported as of March 29 , 1939,
and June 30, I93S, respectively.

Deposits on the last call date consisted of

demand and time deposits of individuals, partnerships, and corporations of
$13,6^3,678,000 and $7,665,^26,000, respectively, United States Oovernment de­
posits of $502,312,000, deposits of States and political subdivisions of
$2,290,992,000, postal savings deposits of $*),9*6,000, certified and cashiers'
checks, cash letters of credit and travelers' checks outstanding of $1* 3 ,678 ,000, and deposits of other hanks of $*t,882,1*37,000, which included deposits of

tanks in foreign countries of $263,^8,000.

Savings deposits included with

time deposits of individuals, partnerships, and corporations totaled $6 ,773 ,207,000 and represented 1 5 ,998,021 accounts.

loans and discounts, including overdrafts, were $8 ,573 ,703 ,000, an in­
crease of $105,223,000 since March, 1939 , and an increase of $239,079,000
since June, 1938 .
Investments in United States Government obligations, direct and fully
guaranteed, aggregating $8 ,769 ,729 ,000, showed increases in the three and

TREASURY DEPARTMENT
Comptroller of the Currency
Washington

FOR RELEASE, MORNING NEWSPAPERS
h r dap* August 19, 1939._______

Press Service
•No. 18-53

Comptroller of the Currency Preston Delano announced today that the total
assets and total deposits of national banks in the continental United States,
Alaska, Hawaii, and the Virgin Islands of the United States on June 30, 1939,
the date of the last call for condition reports, continued to increase in vol­
ume and Trere greater than on any previous call date in the history of the
National Banking System.
The total assets of the 5,209 active banks were $33,180,578,000, an in­
crease of $1,336,182,000 over the amount reported by the 5,218 active banks
on March 29, 1939, the date of the previous call, and an increase of $2,803,018.000 over the amount reported by the 5,24-8 active banks on June 30, 1938,
the date of the corresponding call a year ago.
The deposits on June 30, 1939, aggregated $29,4-69,4-69,000, exceeding by
flj300,218,000 and $2,653,575,000 the amounts reported as of March 29, 1939,
and June 30, 1938, respectively.

Deposits on the last call date consisted of

demand and time deposits of individuals, partnerships, and corporations of
$13,643,678,000 and $7,665,426,000, respectively, United States Government de­
posits of $502,312,000, deposits of States and political subdivisions of
12.290.992.000 postal savings deposits of $40,946,000, certified and cashiers1
checks, cash letters of credit and travelers1 checks outstanding of >443,678,000, and deposits of other banks of $4,882,437,000, which included deposits of
hanks in foreign countries of $263,498,000.

Savings deposits included with

time deposits of individuals, partnerships, and corporations totaled $6,773,~
207.000

and represented 15,998,021 accounts.

- 2 -

Loans and discounts, including overdrafts, were $8,573,703,000, an in­
crease of $105,223,000 since March, 1939, and an increase of $239,079,000
since June, 1938«
Investments in United States Government obligations, direct and. fully
guaranteed, aggregating $8,769,729,000, showed increases in the three and
twelve month periods of $195,945,000 and $782,013,000, respectively.

The

direct and indirect obligations held on June 30, 1939, were $6,899,885,000 and
|| 369,844,000, respectively#

Other bonds, stocks, and securities held total­

ing $3,783,157,000, which included obligations of States and political sub­
divisions of $1,693,684,000, increased $1,645,000 since March and $126,597,000
in the year.
Cash of $530,580,000, balances with other banks and cash items in process
of collection of $4,904,159,000, and reserve with Federal Reserve banks of
f?5,640,067,000, a total of $11,074,806,000, increased $1,060,040,000 and
51,624,251,000 in the three and twelve month periods, respectively.
The unimpaired capital stock on June 30, 1939, was Ml,562,956,000, which
included class A preferred stock of $230,156,000 and class B preferred stock
of $16,417,000.
Surplus of $1,170,822,000, undivided profits of $449,352,000, and reserves
of $206,382,000, a total of $1,826,556,000, increased $30,690,000 since March,
and $125,637,000 since June, 1938*
Bills payable, rediscounts, and other liabilities for sorrowed money ag­
gregating $3,540,000 decreased $2,440,000 since March and $6,04o,000 in the
year.
The percentage of loans and discounts to total deposits on June 30, 1939,
was. 29.09, in comparison with 30.06 on March 29, 1939, and 31.08 on June 30,
1938.

Statement showing comparison of principal items of assets and lia b ilitie s of active national hanks as of
J-one 30, 1939, March 2 9 , 1939 and June 30, 1938*
(in thousands of dollars)
Increase or decrease
since June 30..1938
Amount
Percent
-.*74.

Increase or decrease
since March 29. 1939
Amount
Percent

June 30»
Mar. 29,
June 30»
1939
1939
1938___
9.218
_r9L
Number of banks'. .............. •.. 9.209
ASSETS
Loans and discounts, including
rediscounts and overdrafts:
Loans on real estate
1,829,163 $ 1,770,128 $ 1 ,6 26,50 0 $ 59.035
Other loans, rediscounts
and overdrafts.......... . • 6.744.540
6,698,392
6.708.12*4- --- H6 t18gL
8.973.703
8,468,480
8,334,624
10 5 ,2 2 3
Total loans......
U.S. Government securities:
38,308
6 ,5 1 0 ,3 5 7
6,899,885
Direct obligations....
6 ,8 6 1 ,5 7 7
Obligations fully
157,637
1,869,844
1,712,207
1,^77,359
guaranteed.........
Obligations of States and
1,426,881
1 ,6 6 5 ,9 1 1
1,693,684
27,773
political subdivisions...
Other bonds, notes and
-24,812
1,889,166
1,864,354
1,954,393
debentures...............
Corporate stocks, including stock
-1.316
279.286
226.439
of Federal Reserve banks...
229,119
1 2 ,552,88 6
1 2 ,3 5 5 ,2 9 6
1 1 ,6 4 4 ,2 76
19 7 ,5 9 0
Total investments...
Total.loans and
21.126.589
20.823.776
19,978,900
302,813.
investments.. a ....
■44,309
530 ,58 0
574,889
528,305
Currency and coin.... .......
Reserve with Federal Reserve
494,280
5 ,640 ,0 67
4,618,177
5.145,787
banks........ ........ . • •. •
610,069
4,304.073
4,294,090
4,904,159
Balances with other banks.. * • • • •
Total cash, balances with
other banks, including reserve
balances, and cash items in
1 0 .0l4 .7 6 6
9.450.555 I.O60.0*40
process of collection........ . 11.074.806
948.105
-2 6 .6 7 1
u t
t rhi e
er
r a s s e t s ............... .
1 .0 0 5 .8 5 4
O
9 7 9 .1 8 3
Total

a s s e t s . . . . . . . . . . . .1 1 . 1 8 0 . 17 8

l l . 8 U b . 1 9 6

1 0 .1 7 7 .5 6 p

I . l l 6 . 1 g 2

ju

IL

3 .3b

$

202,663

12.46

3 6 .H16
1.24

239,079

^54
2.87

.5 6

389.528

5-98

9.21

392,485

26.57

I.6 7

266,803

1 8 .7 0

-I.3 I

-90,039

-4.6 l

-.98
1 .6 0

-50,167

-18.22
7.80

1.45
- 7 .7 1

1,147,689
2,275

9 .6 1
14.21

1,021,890

2 2 .1 3

600.086

1 3 A

10.58

1.624.251

17.19
3.28

9 0 8 .610

3 1 , 01 8 .
U .2 Q

2 .8 0 1 .0 1 8

5-.-I4

.43

9 .2 3

Page 2
Comparison of principal items of assets and liabilities of national banks-Contitaed
(in thousands of dollars)

'June 3 0 ,
1939___

Mar. 29,
1933___

LIABILITIES
Deposits of individual,
partnerships and corporations:

$13 M 3 , 67 s
7 ,6 6 5 ,4 2 6
4 0 ,9 4 6
Postal savings deposits. ....
502,312
Deposits of U. S. Government*...
Deposits of States and
political subdivisions*.....*•. 2 , 290,992
Depos its of banks......... ...... , 4 , 8S2.U37
Other deposits (certified and
• UU3.678
cashiers1 checks, etc.)•**.*••
Total deposits..... *. 29 . 469.469
Bills payable, rediscounts, and
other liabilities for
3.5HO
borrowed money...............
71
Cf f\K7
3±o.
UO 1
Other liabilities..............
Total liabilities
(excluding capital
accounts)........... 2 9 .7 9 1 .066
CAPITAL ACCOUNTS
Surplus..... ............... .
Undivided profits and reserves.
Total capital
accounts..... .... •
Total liabilities
and capital
accounts......... .

$ 1 2 , 762,685
7 ,5 2 2 ,2 3 5
4 6 ,6 8 1
5 3 4 ,3 1 4

2 , 175.390
u , 777,667
2 9 0.2 79
28 . 169 .2 9 1

June 30»
1938___

Increase or decrease
since March 29, 1939.
Percent
A m o u n t

Increase or decrease
since June 30. 1938 _
Percent
Amount

6.90
1 .1 0
- I 2.29
- 5 .9 9

$ 1 , 505.631

39U .272

880,993
8 3 ,1 9 1
- 5 .7 3 5
- 32,002

- 32,120
108,040

1 2 .4 0
1*54
-U 3.96
s 27 . Uo

2 ,1 0 6 ,3 4 2
4 , 2 11.10 1

115,602
10U .770

5 .3 1
2 .1 9

184.650
671,336

8 .7 7
1 5 . 9U

$ 1 2,1 38 ,0U 7 $
7 .5 U 8 .S 9 9

73,066

3 UH. 167..... 183.399 .
2 6 .8 1 3 .8 9 4 l r 3 0 0.2 18

8 2 .8 5 _
li
6 c>
H.Oc

-4 0 .8 0
-2,U U 0
3 .2 8
10 . 0 9 1 ..

116,527

9 9 :9 1 1
2 6 3 « -,79
J . Ì . J . ----

C * V r) )

- 6 ,oU 6
3 9 .7 9 6 ____

5 ,9 2 0
807
966
J U 1f 77
W

9 ,5 8 6
2 7 8.261

2 8 .U S 3 .1 9 7

27 103 741

1 .3 0 7 .8 0 9

1 ,5 6 5 .3 3 3
1 , 562,956
1 ,1 5 9 ,8 8 6
1 , 170,822
£
l: c; ~l~l \ 1 _____ 63
u > RJ t "980
ou
OOP. /

1 ,5 7 2 ,9 0 0
1 ,1 1 8 ,4 1 3
982.600

-2 ,3 7 7
1 0 ,9 3 6
1 9 .7 9 4

■7 *2a n

8 86t 199

3 .2 7 3 .8 1 9

28.313

.8 4

119.693

•8 1 .8 4 4 .3 9 6

3 0 .3 7 7 .9 6 0

1 .3 3 6 .1 8 2

4 .2 0

2 .8 0 3 .0 1 8

0

U.59
- .1 5
.9 4
3*11 __

2 .6 8 7 .3 2 5
-9.9U U
52.U09
7 3 .2 2 8 ___

2 8 .9 1 _____
9 .9 0

- 63.07
lU .3 0

9 .9 1 ...

-.6 3
4 .6 9
1 2 .9 7
-3,53______

9 .2 3

-

Page 3
Comparison of principal items of assets and liabilities of national banks-ContihSsffid
(in thousands of dollars)

Increase or decrease
June 30,
Mar. 29,
June 30,
since March 29, 1939.
______ 1939 _________ 193 s______ Amount________ Percent
MEMO BANDA
Par valué of capital stock:
Class A preferred stock .......................................... $
Glass B preferred stock,*......... ...
Cominon stock* * * * • • ♦ * * • • • ♦ • • • • • • • • • • •
Retiradle valué of preferred capital
stocks
Class A preferred stock....*...... ...
U J L c i s s jj preierreu b o u c -k . # • • • • ••••••♦•
Total................. ...
Ratio of loans to total deposits...Percent

NOTE:

Minus sign denotes decrease.

239,156

$

248,885$

1 .3 1 9 .430
1 ,566,003

233,759
l6,s44
1.31& . m 2
1 .5 6 9 ,15 5

2 ol,5 S 5

264 ,S92

266,936

18.408
279*993—

18 . 809

237.6 9 7

19.070
2s 6.o o 6

30*°6

31*02

lb,4l7

29*09

$

1 7 ,2 10
1.311.326.
1 ,5 7 7 ,>221

Increase or decrease
since, June 3Q.>.1.9311
Amount
Percent

- 3.603
-427
878
-3,152

- I .5 4
-2.54

-3.3 0 7
-397
-3.704....

- I .2 5
- 2 .1 1
-1.31 .. -

$

. « Q I ____________

- .2 0

- 18 .729

-79 3

-7.53
- 4 .6 1

8.104
-11,418

.6 2
- .7 2

- 5 ,3 5 1

-2.0C
—3.47
-2.10#.

-662

-6.013

PRESS RELEASE

The Acting Commissioner of Customs announced today that preliminary re­
ports from the collectors of customs show that entries for consumption and
withdrawals from bonded pastures for consumption have been accepted covering
cattle subject to the quota provisions of the Canadian Trade Agreement, as
follows:
Period
____ Covered
July 1 to Aug.
17, 1939

:
:

:
Class of Cattle_____ : Head

Cattle weighing 700 pounds
or more each, other than
dairy cows, from Canada

July 1 to Aug.
12, 1939

Cattle weighing 700 pounds
or more each, other than
dairy cows, from other
countries

Jan. 1 to Aug.
17, 1939

Cattle weighing less
than 200 pounds each

36,438

7,163

95,242

:
:

Percent of
Tariff Rate Quota

70*5^ of quota
for third quarter
of calendar year
86*5% of quota
for third quar
of calendar yes
95.256 of quota
for calendar year

TREASURY DEPARTMENT
Washington

Press Service
No. 13-54

FOR IMMEDIATE RELEASE
Saturday. August 19. 1939«

The Acting Commissioner of Customs announced today that preliminary
reports from the collectors of customs show that entries for consumption
and withdrawals from bonded pastures for consumption have been accepted
Canadian Trade
covering cattle subject to the quota provisions of the
Agre ernent, as follows i

. Period
Covered
July 1 to Aug.
6 k 1939

Ju3.y 1 to Aug.
12, 1939

Jan. 1 to Aug.
17, 1939

s

Class of Cattle

Cattle weighing 700 pounds
or more each, other than
dairy cows, from Canada

Cattle weighing 700 pounds
or more each, other than
dairy cows, from other
countries
Cattle weighing less
than 200 pounds each

•

Head

;
•

Percent of
Tariff Rate Quota

36,438

70.5% of quota
for third quarter
of calendar year

7,163

86.5% of quota
for third quarter
of calendar year

95,242

95.2% of quota
for calendar year

Tabla 2.~Corporations, 1937, returns filed through December 1936, by major i^ustrlal groups and bf ^ ^ ® nJiga8heL d n^ o k adiTidends0paid
dlTldends received on stook of dcmeetic corporations, interest received on Government obligati®®*»
(Money figures in thousands of dollars)

Dividends
received on
etoek of do­
mestic coruq. rat ions.5/
!\ 3 S 0

Industrial groups

Agriculture and related industries

8/

Mining and quarrying

Returns with net income i/
Interest
on Government
Subject to I Wholly
Total
excess-profits

tax

on

Dividends paid

Cash

Dividends
received on
stook of do­
mestic corpo­
rations.w

2/

Stock

-- j -

--- U ------------- L--------------2 (o8
4135 3
141

/123

3 1 804-

Z 4SI

excess-profits
tax

— ^ *
/ 3/4
4542

14 3
801

31
572

J L

10 S
231

/o 424

/1402

(0>f33
8Z IO

Tobacco produets
Textile mill products

/O 8 7 !

Clothing and apparel

/ Z13

Leather and its manufactures

/ 831

Rubber produots

310 ¿14

8/2

! 341

I 138

243 132

b ¿ 8¿

24'àL

Z11

/ JO

/21

231
8la2
1511
220
¡4-5

401

0 50 2

1!
0
XoO

240

151
/¿
300
22
¿2
50
¡2 5
24

&0

4 514
844
] ¿3
I 5 11
I ¿8$
5851

¿Id
13
2/4!
13
251
H3
12!

II4
414
103

2(0
227

310

12 153
/0 8 7 18
I 24 ¿28
2 2 033
22 15¿
42 231
ù5 ¿>38
4/ 102

I 45 /
HOI

II24
2 187

J23121
344 221

231,0
13 ¿01

3 885
1&3

177
231

42
81

4-31
130
4521
1 244

158
¿4 1

213 120
115 510
258 103
2 1 £ 140

¿0 43

510

/ ¿o5
2/0

2
154

38 450
1 222

ZSZO
)42

HI
5

2
¿1
225

31!

/3 7 5 2

8 04 1
10 1 0 3

Forest produots
Paper, pulp and produots

254
! 52 L
5 Id
1 (0

2 1 158
20 l O ò

Chemicals and allied products

2 545
3 222

Petroleum and other mineral oil

Stone, clay and glass products

124 212
!2 ¿12

Metal and its products

to i 84!

products

4! 34!

Motor vehicles, complete or parts

5 77/
/ ¿11

Construction
Transportation and other public utilities
Trade

7

IL
2

40

54
77
5
130
/57

/

7
87
127
s

2 \

13

8

2\ ¿ a

2 136

/ 0o1

! |2 ¿

3Zê>
2083
581

/40
¿o5
30 8

181
1478
221

2241
36 7 21
¡ 5 (oU\

8Id 2 4 2

¡521

U, ¿47

Ho 704

2 1o0 ¿ 8 !

12 050

5320

4*8
4220

2 5 141

2110

2141

S t HO
/330041
103 OlO

4 ¿H

Z81 m
10 !5 l

111*
1 )81

2211 4

20Z
34 441
3 ¿48

¡40 5 H

2 435

4 181

200

33I

53 5

4 255

11 931
27

3 l4 ¿ 2 ¿
10

S 5 12 ¿
Z

252 70 /

8 1 ¿>9!

¡¿7 ¿2 4

3Z\ 5 2 1

5 2 121

202 L 5 l

205243

ni25

31 H I

n o 7 3i

Xoo n z

4 !o53
23081
41 344

Service - Professional, amusements,

24 355

/ 0/4

385

L>34

1 501 802

30o422

/ 48 (sZ I

S

2

I 150 2 3 1
/ 020

20 143

53

} 82 H I
3

2 5/4 ¿03

414 234

2 0 5 510

213 ¿43

1302 1 8 !

170 145

1936

2 503 122

422 322

210 4 5 !

247 438

1 m

1935

1 442 322
440246
4 4 0 ot5
434 001
852 528
) 7 ¿4 o 4 o
2 183 ¿ 5 5
Ì 5 4 5 120

hotels, etc.

) 223
¡5.'28

30 8

2/4

5 0 2 1 4 Ù,

Total manufacturing

/ (0

114

1

classified

10

n

Manufacturing not elsewhere

22

/54

47

Printing, publishing, and allied
industries

448

2103

Liquors and beverages (alcoholic
and nonaleobolio)

Stook

Cash

Wholly
tax-exempt

2 105

Manufacturing:
Food and kindred products

Subject to

Total

450

Finance - Banking, insurance, reel
estate, holding companies, stock and
bond brokers,etc.
Nature of business not given

Grand total

-

Summary for prior years:

1934
1933
1932
1931
1930

- 5* ij

1929

e

1928

2/

3/

144 44L>
¡4 4 522
154 244
144 402
2 i 6 442
344 442
431 034
414 482

220

(6)
(6)
(6)

(6)
(6)
(6)

4 ¿51 002
^3 8Z2 511
2 3 8 5 881

(6)
(6)

(6)
(6)
(6)
(6)
(6)

232.0381,
3 871 8 8 0
1 ho 8 Z 3 0 S 0 '
Ils 0 0 5 4 5 2
y 'to 544 { ¿ 1

(6)
(6)
(6)

3 3 5 311
H Z 10 2
¡13 4 H
?o 45o
81155
7 7 881
250 411
I (43 210
S<7f-S53

235108
/ 72 ¿ 70
5 / 0 io 1
/ 521 2 ¿ 5
1 2 7 ¿ 55! & 4 ¿ 1 111
431 221
525¿34
40 O 122
822181
325135
/ II ¿ ¿ 4 1
80 7 H f & 110 2/2
/ OÔ h £>%
40434 7
32155/
) o £ 47^

9

(6)

(6)

(6)
(6)

(8)
(8)

(6)
(6)
(5)
(6)
(6)

(6)
(6)
(6)
(6)
(8)

/

0?0

1221
i 630 42!
441 ¿10
15 h £ 2 1 5

2 21120 3
Ì 3!o! 14 !
51 3 800
422 5 5 4

21

543

53 122
3 5 ¿4^~
j ¿ 3 ¿81

44141
40 2 1

5

domestic corporations

gx-v»»
9 ^ u
—
not subject to taxation under Title I of the effective revenue act.
Data reported in schedule on return (For 1937, Schedule M, p. 4 of return;

Data for lyoo ana ivo/ inoxuaeu m

V
5/

Included in "gross income", "net income for excees-profits tax", and "deficit for excees-profite tax" in table 1.
interest on obligations of States and Territories or political subdivisions thereof, securities issued under Federal Farm Loan Act, or mich act as amended, obligations of the United States Issued on or before

■

September 1, 1917, Treasury notes, Treasury bills, Treasury certificates of indebtedness, and Uhited States savings bond and Treasury bonds owned in principal amount of #5,000 or laaa.

6/

Mot available.

7/
g/

Revised.
Revised.

. |g§g V ..

'

A—

.

Sea Statistics of Income, 1935 Part 2, footnote 2, p. 9.
For 1934, see Statietiee of Income, 1935 Part 2, footnote 14, p. 24.

...
For 1930, see Statistics of Income for 1933, p. 37.

For 193+, the amount of cash dividends paid by corporations reporting net income and submitting balance sheets with total assets of under $50,000 (for which consolidated returns were not filed for 1933)
in the •finance* group, in Wisconsin, is decreased by $30,000,000. For 1930, the amount of cash dividends paid b y corporations reporting net income, in the "construction" group, in Pennsylvania, is
decreased by $18,000,000. For 1929, the amount of cash dividends paid by corporations reporting net income, but not submitting balance sheets, in the "metal and its products" group, in Michigan, is
increased by $164,150,000. For 1928, the amount of cash dividends paid by corporations reporting net income in the "food produots, beverages, and tobacco" groups, in North Carolina, is increased by $9,000,000.
For 1934, the amount of interest received on tax-exempt obligations by corporations reporting no net income and submitting balance sheets with total assets of $1,000,000 and under $5,000,000 (for which
consolidated returns were filed for 1933) in the "trade" group, in New York, is decreased by $4,900,000. For 1930, the amount of interest received on tax-exempt obligations by corporations reporting no net
income in the "trade" group is decreased by $10,000,000.

W

H

M

H

(Monty figures in thousands of dollars)
h ...
* .
» ^

Year

Mtomber of returns
Returns with Returns
Total
net ixu^ae
no net
(excluding
income
number of
inactive
corporati one)

Gross
income

Deductions

Rat income

Net
income
less
deficit

Deficit

5/

Inoome tax

Xxeessprofits tax

Total tax

Number of
returns of
inactive
corporations

4

1937

i/

1936
1935
1934
1933

471 234

/12 024

41 8 S S 7
477 H 3

203

4 U>1 so 4
44U 842

/4S

1930

45/ 224
4$1 40 4
4U3 Û3U

1929

4-SL 02 1

1928

443 u n

1932
1931

¡Ut
231

/O/

/01 78U

82
/ J S 842
22 1 420

2U4 4 3 0
2 Ù8 123

8>o
X 7S U1U

i4l 4U 7 Xot 134 U/3
/3X x77 433 124 4 S I
3 / 2 22 2 H3 4 3 u /7Ô nx 2 4 0
3 X 4 103 /00 831 2 S3 /oo 131
3 3 7 osu S3 U42 420 2 U )84
3 U 1 2 3 2 8 /0 83 132
8U 7 2 1
2 23 SOU LOI S / S 234 J 10 803
22S

241

(0

/u

/8U S u

/1 7

US 4
22 j
0 23
788
312
124

ÔU2 0 S 4 *Î34 s/ o 84 /
U 2 I So

S/f 6 3 4

4

if' 881 7 S
174 222 7 Sz 12 ! S t 4'T144 6$4 W

844

2/2 280

B4U

1 3S4 003
1 3 Z U 218
/ 5 4 So

478 2 4 1 2 0 1 S 2 0 2 4
S n>4 7 2 3
3 4U2 714
4 IB I 0 2 7
4 2 1 s HI
e, U
S S3 3 334
X 1 2 s 47 2
6/
7 74U U 2 7 SU 4 3
2 1S 3 H 3
U 170 4/3 ^ 3 287
J US 3 3U8
y 217 S * fS /S S I
U 428 813

\ n U $ 3 28 U
/o Ul1 74 !

/2 3 2

23 8

/

7US
/SU

7/0

170

?88 37S

3 U7
S 74

4/U 04 3

* A*S $7U

S4 S

34 8 41+

2 /2

7H 10 4

2 4>4 128

2 734

2 34! 124

B2 2 U u 1 7

7 SB

!H 3

43

U

! 184 142

43 34S
2 / Ut3
2 4 4 U1

7 U73

§//2 7 é
*// >4/

372
73 $ ¡ 2 4
S 4 U o43

y t°11U
4 2 3 OU 2
- 2/ 2 2S S 7U
342114

-

S i 2S1
S ! 122
su S/8

/84

si 0 4 4 S i 232
s u 1$ 2
6U 10 O

i n io4

s s 700
63 41 $

;H 3 43U
y 184 >42

6'2

X2\

H

\ f
.
Zl

For 1937, the class if ioat ion of returns "with net income" and "with no net income" is base<i on the^ amount of net income for excess—profits tax computation (item
p» 2 of return)# For 1936 and prior years, the classification was based on the amount of net income for income tax computation

28 ,

Schedule A,

For 1936 and 1937, "gross income" and "deductions" correspond to "total income" and "total deductions", plus, in each instance, "cost of goods sold" and "coat of operations”. Unlike former years, "gross
income" includes Interest received on certain Government obligations, which is subject to excess-profits tax, and "deductions" include contributions or gifts (limited to S per cent of net income before deduction of
contributions or gifts) and exclude dividends received on stock of domestic corporations. For 1934 and 1935, "gross income" and "deductions" correspond to "total Income" and "total deductions” as reported on face
of return, plus in each instance, "cost of goods sold" and "cost of operations".
will include the same items as in 1932 and 1933.
"cost of goods sold" and "oost of operations”.

Interest received on Liberty bonds, etc* as reported on face of return has been deducted from gross income so that gross income

For 1932 end 1933, "gross income” and "deductions" correspond to "total income” and "total deductions" as reported on face of return, plus, in eaoh instance,

/7 A.g

_

For sM*>1931, "gross income" and "deductions" correspond to "total income" and

3/

For 1936 and 1937, "net income” and "deficit" represent the amount for excess-profits tax computation.

V
5J

Preliminary figures,
Revised. For gross income and deductions for 1930, see Statistics of Income for 1931, pp. 32, 33.
for 1928, see Statistics of Income for 1930, p. 238.

6/

Deficit in axeess of net income

2j

Bffective June 30, 1933, under provisions of National Industrial Recovery Act.

8/

For 1936, includes surtax on undistributed profits of $144,972,284, and for 1937, $175,897,696.

total deductions” as reported on face of return, plus "cost of goods sold".

For income tax and total tax for 1932, see Statistics of Income for 1933, p. 37.

For gross income and deductions

TREASURY DEPARTMENT
IN T E R O F F I C E C O M M U N IC A T IO N
DATE

August 17, 1939.

TO
FROM

Ihere is attached hereto for approval and publication
a press release pertaining to preliminary statistics of
corporation and excess profits tax returns for 1 9 3 7 »
It is requested that 100 copies of the mimeographed
release he sent to Mr. Edward White, Chief, Statistical
Section, Bureau of Internal Revenue, Room 15^5t as soon
as the supply is available.

Attachment

- 3 returns with fiscal years ended prior to December 51, 1937,

ed

under the Revenue Act of 1936; and returns for the calendar year 1937,
end for fiscal years ended in the period January through June, 1938, ’
filed under the Revenue Act of 1936 as amended by the Revenue Act of
1937.
In analyzing the data, allowance should be made for the two
special deductions from gross income permitted life insurance companies
under Subsection (a), Section 203, Revenue Act of 1936, relating to
reserve funds required by law, and reserve for dividends.

On the 1937

returns with net income this deduction is *40,320,014, and on returns
with no net income is #782,974,318.
T

--

-—--;
---_______ ______

DESCRIPTION OF TABLES

--------

Table 1, p a g e -----All 1937 returns are segregated by industrial
groups and by "returns with net income", "returns with no net income",
and "returns of inactive corporations".

Totals for the following items

are shown for each segregation to which the items are applicable:

number

of returns, gross income, deductions, net income or deficit for excessprofits tax computation, normal tax, surtax on undistributed profits,
excess-profits tax and total tax.
Table 2, page

— -- The 1937 returns are segregated as in Table 1.

Totals for the following items are shown:

dividends received on stock of

domestic corporations; interest received on Government obligations, amount
subject to excess-profits tax and amount wholly tax-exempt; and cash
dividends and stock dividends paid.

The information shown in Table 2

permits comparisons of the above items, tabulated from returns for 1936
and 1937 with similar items tabulated from returns prior to 1936; and
indicates the effect of the inclusion in net income for excess-profits
tax computation of dividends received on stock of domestic corporations and
interest received on certain obligations of the United States.
Table 3, page

- - -contains a historical summary of certain data

for the years 1928 - 1937.

1936 shows that the number of returns with net income decreased 11,132 or
5.5 percent, the net income increased $156,607,533 or 1.7 percent, and
total income and excess-profits taxes increased $84,805,738 or 7.1 percent.
The number of returns with no net income increased 10,114 or 3.7 percent,
and the deficit reported thereon increased $128,821,827 or 6.0 percent.

~

------ — .—.—£

*

—— rj-Tvivi

’
la 1___^

DEFINITIONS OF ITEMS AND CLASSIFICATIONS OF THE RETURNS
♦ •Gross income" and "deductions" correspond to "total income" and
"total deductions" (items 14 and 26, respectively, Schedule A, p, 2
of return) plus, in each Instance, "cost of goods sold" ««a "cost of
operations" (items 2 and 5, Schedule A, p. 2 of return),
"Net income" shown herein means the "net income for excess-profits
tax computation" (item 28, Schedule A, p, 2 of return), and represents
the amount of gross income, as defined above, in excess of deductions;
and "deficit" represents the excess of deductions over gross income.
The classification of the returns for 1937 into those "with net income"
and "with no net income" is based on this item,

Prior to 1936, net

income or deficit was the amount for income tax computation

did

not include dividends received on stock of domestic corporations sub­
ject to taxation under T itle 1 of the effective Revenue Act, nor
interest, subject to excess—profits tax, received on certain Government
obligations.
Corporations are classified industrially according to their pre­
dominant business*

Owing to the diversified activities of many corpo­

rations, the industrial groups do not contain solely corporations
engaged exclusively in the industries in which they are classified.
reason of the discontinuance, under the Revenue Act of 1934, of the
privilege of filin g consolidated returns, except by railroads, the
classification of industries prior to 1934 is not s tr ic tly comparable
with that of subsequent years,

__

_,____

A ll the tables in this release present the composite data for

By

for 1937, filed through December 31, 1938, prepared under the direction
of Commissioner of Internal Revenue Guy T. Helvering.

RETURNS TABULATED
In general, the returns on which the figures are based are for
the calendar year 1937« However, a considerable number of returns are
filed for a fiscal year other than the calendar year. Such returns
for a fiscal year ended in the period July, 1937, through June, 1938,
are tabulated with the calendar year returns* There are also included
part-year returns for which the greater part of the accounting period
falls in 1937.
The corporation income and excess-profits tax returns for 1937
were filed under the provisions of the Revenue Act of 1936, as amended
by the Revenue Act of 1937.
The statistics are compiled from the returns as filed and prior
to revisions that may subsequently be made as a result of audit by the
Bureau of Internal Revenue.
NUMBER OF RETURNS, NET INCOME OR DEFICIT, AND TAX

The number of corporation income and excess-profits tax returns
for 1937, filed during the calendar year 1938, is 529,098, of which
192,029 show net income amounting to $9,634,849,008, while 285,810
show a deficit of $2,280,845,542, and 51,259 have no income data. The
normal tax is $1,056,940,380, the surtax on undistributed profits is **
$175,897,696, the excess-profits tax is $43,345,435, and the total tax
is $1,276,183,511.

A comparison of the data for 1937 with the data for

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING' NEWSPAPERS
Wednesday« August 23» 1939»

Press Service
No. 18-55

The Secretary of the Treasury today made public preliminary statistics of
,corporation income and excess—profits tax returns for 1937* filed through
December 31, 1938, prepared under the direction of Commissioner of Internal
Revenue Guy T. Helvering.
RETURNS TABULATED
In general, the returns on which the figures are based are for the calendar
ye^r 1937.

However, a considerable number of returns are filed for a fiscal

year other than the calendar year.

Such returns for a fiscal year ended in the

period July, 1937, through June, 1938, are tabulated with the calendar year
returns*

There are also included part-year returns for which the greater part

of the accounting period falls in 1937.
The corporation income and excess—profits tax returns for 1937 were filed
under the provisions of the Revenue Act of 1938, as amended by the Revenue Act
of 1937.
The statistics are compiled from the returns as filed and prior to revisions
that may subsequently be made as a result of audit by the Bureau of Internal
Revenue.
NUMBER OF RETURNS, NET INCOME OR DEFICIT, AND TAX
The number of corporation Income and excess-profits tax returns for 1937,
filed during the calendar year 1938, is 529,098, of which 192,029 show net
income amounting to $9,634,849,008, while 285,810 show a deficit of $2,280,845,542, and 51,259 have no income data*

The normal tax is ->1,056,940,380,

the surtax on undistributed profits is $175,897,696, the excess-profits tax
is $43,345,435* and the total tax is $1,276,183,511.

A comparison of the data

-

2

-

for 1937 with the data for 19 3 6 shows that the number of returns with net income
decreased 1 1 , 1 3 2 or 5*5 percent, the net income increased $156,607,533 or 1*7
percent, and total income and excess-profits taxes increased $84,805,733 or
7 . 1 percent.

The number of returns with no net income increased 10,114- or 3*7

percent, and the deficit reported thereon increased $128,821,827 or 6 .0 percent.

DEFINITIONS OF ITEMS AND CLASSIFICATIONS OF THE RETURNS
"Gross income" and "deductions" correspond to "total income" and "total
deductions" (items 14- end 26, respectively, Schedule A, p. 2 of return) plus,
in .each instance, "cost of goods sold" and "cost of operations" (items 2 and
5, Schedule A, p. 2 of return).
"Net income" shown herein means the "net income for excess-profits tax
computation" (item 28, Schedule A, p. 2 of return), and represents the amount
of gross income, as defined above, in excess of deductions; and "deficit"
represents the excess of deductions over gross income.

The classification

of the returns for 1937 into those "with net income" and "with no net income"
is based on this item.

Prior to 1936, net income or deficit was the amount

for income tax computation and did not include dividends received on stock of
domestic corporations subject to taxation under Title 1 of the effective Revenue
A c t , m r interest, subject to excess-profits tax, received on certain Government
obligations.
Corporations are classified industrially according to their predominant
business.

Owing to the diversified activities of many corporations, the in­

dustrial groups do not contain solely corporations engaged exclusively in the
industries in which they are classified.

By reason of the discontinuance,

under the Revenue Act of 1934, of the privilege of filing consolidated returns,
except by railroads, the classification of industries prior to 1934 is not
strictly comparable with that of subsequent years*

- 3 -

All the tables in this release present the composite data for returns with
fiscal years ended prior to December 31* 1937* filed under the Revenue Act of

1936 m3

and returns for the calendar year 1937* and for fiscal years ended in the

period January through June* 193$* filed under the Revenue Act of 193$ as amended
by the Revenue Act of 1937#
In analyzing the data* allowance should be made for the two special de­
ductions from gross income permitted life insurance companies under Subsection
(a), Section 203, Revenue Act of 1936* relating to reserve funds required by
law, and reserve for dividends#

On the 1937 returns with net income this de­

duction is $40,320,014., and on returns with no net income is $7$2,974*31$*

DESCRIPTION OF TABLES
Table 1* page 5 ----- All 1937 returns are segregated by industrial groups
and by ’’returns with net income", "returns with no net income", and "returns
of inactive corporations’’*

Totals for the following items are shown for each

segregation to which the items are applicable:

number of returns* gross income*

deductions, net income or deficit for excess—profits tax computation* normal
tax* surtax on undistributed profits, excess—profits tax and total tax#
Table 2* page 6 ----- The 1937 returns are segregated as in Table 1.
for the following items are shown:

Totals

dividends received on stock of domestic

corporations* interest received on Government obligations, amount subject to
excess—profits tax and amount wholly tax-exempt* and cash dividends and stock
dividends paid#

The information shown in Table 2 permits comparisons of the

above items* tabulated from returns for 1936.and 1937 with similar items tabulated
from returns prior to 1936* and indicates the effect of the inclusion in net
income for excess-profits tax computation of dividends received on stock of

~ 4 -

domestic corporations and interest received on certain obligations of the United
States.
Table 3, page 7 --- -contains a historical summary of certain data for the
years 192$ — 1937#

*

t

„„Vi. 1
Table

Cnmora t i c n a

1917

l._Co.p«aU on^I937.

returns filed through December 1938, b y major industrial groups and by returns with net income and with no net income: number, gross income, deductions,
surtax on u i d U t r i b u S d p r o f i t . exclss-profits 'tax and total tax: also number of returns of inactive corporations
(Money figures in thousands of dollars)

Total
number of
returns

Industrial groups

^iculture and related industries

imng and quarry m g
jnufacturing:
Food and kindred products
Liquors and beverages (alconolic
and nonalcoholic)
Tobacco products
Textile mill products
Jlothing and apparel
Leather and its manufactures
Rubber products
Forest products
Paper, pulp and products
Printing, publisuing, and allied
industries

dumber

Gross
income 2/

Returns with net income
_ , K
:Net income fori .T
„ ! Surtax on :
D e d œ t i o n s . eicess.pr0tits. formal ¡^distributed:4“ 68^

2/

:

ta-sr

I

ta x

:

profits
p
r o fits

9.565

2,636

531.954

474.655

57.320

6,569

909

18,021

5,083

2.579.785

2.152,164

427,621

51.079

5.378

12,976

5,300

7,276,741

6,990,643

286,098

3.é50

3.376

I .633

3 ,10 2

1 ,457,931

1,383

1,640,878

1,366,543
1,138,131
2,848,136
1,406,918
328,548
964,590
1.364,361
1,506,834

5.644

32O

1,529,312
1,264,779
3,014,462
1,439.762
963,143
1,012,043

36»393
22,482

5 .1 1 7
3 .1 0 7

1,908,531

37O
7.097

zip
643
6.730
2,327
1 2 ,607

140

3,013

2,790
1,0 2 3

162,769
126,648
166,326
32,845
34,601
47.
93

17.731

01 lts

:

¿84,707

60,859

8,481

1,000,672

1,129,040

128,368

4,457

753

40,796

6,940

3,602,288

3,666,092

63,804

736

955

29,080
18,645

1.478

292,424

308,845

16,421
2,040

265

213
4.490
5,120

1,517,426

1,586,800

69,374

194

828,973
382,140
98,623
497.804
253,230

19,036
13.564
3,712
25,640
12,039

566,466
356,416

36 .
19 ,

471

21,257
17.416

426

218,915
1,301,235
197,903

669,910
236,330
1 ,371.962
210,950

13.047

101
217
806
62

4,402

83b

9^7

921
bl 4
1,089
2,085

129
100
131

27.153

5.104
5.257
6,372

1,311

36,703

809,937
368,57é

294

94,911
472,165
241,191

886

14,485

3.373

140,044

18,615

4 .1 1 5

708

23.439

867

183,821

22,020
56,525

4,852
6,605

672
1,013

27.544
64,144

7,079
3.677

3.943

795

34,951

2,960
41.513

887
12,870

8,541

596

25,486
240,821
65,726

381
2,263

,514

862

251,123

4,236

H

33.583

6,067

4 ,0 5 4

5.152

Number

7.848

369

21,950
4,542

Total
tax

Number of
Returns with no net income ¿/
returns of
Deficit for
Deductions :excess-profits
Gross
inactive
income 2/
w
corporations
:
tax

529.691

38,742

17

134
52
29

255
77

3,882,702

1,724,710
3.425.583

381

4,638,211
1.317,034
14,042,168
4,554,832

4.337.396
1.155.510
12,660,818
4.139.078

1.381,350
415.814

30,213
21,619
186,438
56,589

1.519.612

1,382,944

18,245

4,190

835

23,270

3.319

319,029

339.459

712

2,166

136,668

20,430

6,197

41,974

51,468,208

534,082

95.814

22.376

10,988,400

11,412,744

424.344

4,532

4.127.465

50,008

47.340.743

652,271

96,514

14.617

773.852

1,469

84.463

2,867

36,890

1,603,587

10,349

810,741

1,688,050

10,761

18,333

6,103

1,402

instruction

2,688

10,411

3.749

410,004

184,020

4,415,002

7.531.290

1 ,503,033

4,825,007

9 .034,323

13,816

27.361

10,857

198,180

ransportation and other public utilities

29,176

6,668

168,386

230,798

1,064,765

132,542

10,^10,007

33,992.686

80,652

4.935

62,432

35,057,451

10,379,209

148,019

26,314

6,194

34,146

41.017

5,064

225,726

1,638

210,064

2.399.651

2,421,991

19,191

2,625,377

2,211,927

65,272

2 ,143.795

111,906

25,144

2.735

139,786

73.498

3 ,754.951

16,913

3,856,606

802,643

43.581

6,000,402

2,952,308

133.992

3,669

3,007

661

80

5

6

91

1,510

5.488

4,152

10,339

172

j 9.640

12,021

175.898

1,276,184

51.259

9,634,849

43.345

2,280,846

99.354.370

1,056,940

35.g58.827

108,989,219

32,977,981

192,029

285,810

529,098

7.188
Petroleum and other mineral oil
products
Stone, clay and glass products
Metal and its products
Motor vehicles, complete or parts
Manufacturing not elsewhere
classified
Total manufacturing

rade
ervice - Professional, amusements,
hotels, etcinance - Banking, insurance, real
estate, holding companies, stock and
bond brokers, etcature of business not given
Grand total

806
4,164
20,074
8t>9

3£4
1,684

10,491

457.119
300,815
161’,524

8.777

T 7'" The Classification of returns'’’with net income" and "with no net income" i s b a s e d on the amount of net income for excess-profits tax ^ P t a i i o n W
I
difference between " total income" and ''total deductions" (items 14 and 2 % respectively, Schedule A, p. 2 o f _return) and also o e t w e e n g f
VJ "Gross income" and "deductions" correspond to "total income" and "total deductions" (items 14 and 27 , respectively, Schedule A, pv 2 of return), plus, m
operations" (items

2

and

5»

Schedule A, p.

2

of return)-

337.354
648,653

70,727

404

w
*
* ^ 1Ch ^
^
instance "cost of goods sold" and “cost of
each instance, cost
g

Table

2 .—

Corporations, 1937 * returns filed through. December 1938 * by major industrial groups a n d ‘by returns with net income and with no net income;
dividends received, on stock of domestic corporations, interest received on Government obligations, and cash and stock dividends paid
(Money figures in thousands of dollars)

Dividends
received on
stock of do­
mestic corpo­
rations 2/

Industrial groups

Returns with net income 1/
Interest received
on Government obligations
Subject to :
u
...
Wholly
Total cxcess-urofits:■
, ci
tJ m .
* M * S * * ¥

Agriculture and r e l a t e d in d u s t r ie s

11,356

415

Mining and q u arryin g

81,011

Food and kindred products
Liquors and beverages (alcoholic and
nonalcoholic)

37,864

Tobacco p ro d u cts

8,270
10,271

Dividends paid 3/

1 Dividends
1received on
:stock of do‘mestic corrp* rations ±1

Cash
ÜL

:
í
*

Stock

Returns with no net income ±J
Interest received
on Government obligations
Subject to : Wholly
excess-urofits:tax-exeront
Total
;ax

Dividends paid

Stock

Cash

5 .

49,353

1,923

1,314

143

37

IO5

778

10

2,903

370,874

812

4,592

809

572

237

10,484

l,6o6

1,349

1,138

243,732

,686

8,438

297

170

I27

17,488

88

239
868

401

1,121

3»°45

1.513

1,526

282
220

226

5£

9g ,953
1 0 8 ¿798
124,688
22,033
28,356
¿2,837
85,638

936
113
8,348
1,304
1,171
523

147

268

5,067

2,165

2,487
640

Manufacturing:

Textile mill products
Clothing and apparel
Leather and its manufactures
Rubber products
Forest products
Paper, pulp and products
Printing, publishing, and allied industries
Chemicals and allied products
Petroleum and other mineral oil products
Stone, clay and glass products
Metal and its products
Motor vehicles, complete or parts
Manufacturing not elsewhere classified

£,433

1,293
1,831

13,752
8,o ;7

3/

145
646
1,020

145
119
419
703

254

%

26
227
316
1,124
2,187
958
047

16,163
27,958
80,960
124,212
12,612
101,891

10,292

4,521

4 !,371

2,934

1,244

9,819

1,082

774

5,771
1,691
308

502,776

33,351

16,647

5.320

1,204

289,719

1,451

91,102

123,927
944,829

c

66

3-57

66

8
4.574
844

13
2,141

10

163

259

1.519

113

16
360
22
62
56

2,350

721
240
3,885

6,568

1,688
5,854

93

125
24
177
239

1,805
210
2,526
148

154
411

86,242

13,601
8,043
590
38,750
1,282
1,521

391

16,704

2,906,686

92,050

428

776

51,170

11,410

4,220

7,189

90,151

5,975

2,976

hotels, etc. 24,355

1,019

1,509,862

1,701

1 Í397
1*577

439

:273,720
II5 .59O

783

8

206
16
16
2

47
19
m

154

i

54
77
5

96

8
66
173
65

2,375
7°7

130

1.823

18

157

1,528

72
75

2

3.702

87
225
1

87

948

187

4,861

23
80

21

13

1

131
740

157

21,611

2,135

,009

1,126

46,676

921

4,617

862

326

140

186

2,291

9

i . 330.049

25,191

34.449

2,083

605

1,478

30,721

43

2,999

703,016

22,974

3,648

589

308

281

15,661

1,038

385

634

146,579

2,435

9,189

866

331

535

7,255

456

360,788

178,621

182,1 d 7

1,750,2$

20,943

91,931

314,626

55,926

258,701

89,691

13,640

53

5

2

3

1,020

-

27

10

2

9

1,686

1

2,514,603

419,234

205,590

213,643

7 ,308,786

170,945

167,624

321,587

58,929

262,659

205,243

17,725

488,388

240,451

247,938

335,319

172,676
1,521,265

1 ,276 ,551

200,112
1,289,618
1,036,781

23,689

173,419

23 5 ,908
516,101
,461,119 8/

196,731

112,162
80,450

1932

437,001

1931

852,588
1,764,040
2,188,655
1,595,120

7 ,179,220
4,651,002
3 ,822,599 2 /
2,385,889
2,320,386
3,871,880
6,823,050 2/
8,005,952 7/
6 ,594,169 7/

39.177.

197,446
197,582
154 .2J 9
147,468
215,978
349,442
431,039
417,982

M

1933

2,503,922
1,492,322
940,895
440,075

585,634
822,981
1,116,641
807,191

Total manufacturing
Construction
.ities
Trade

930

858,703
276,940

5

ìstate,

holding companies, stock and bond
brokers, etc.
Nature of business not given
Grand total
Summary for prior years:

1936
1935
1934

.

1
930
1929
I928

1

R

a

I

g?

B
bj

t
w

i

89,955
77,887
250,499
1,193,896
509,853

404,397
321,551

Í

325.735 n/

í

176,818 8/
105,658
105,478

1

406,782

o)

741.570

I
í

9,653
41,344
21,593

1,565,215
2,279,203
1,361,191
513,880

53,122
85,644
163,681

488,554

40,275

94,747

T ÏÏë ciâs£'ificaïïôn J6f ^ f § ^ r h s ~ T5^ î W ^ % t " T H c 6 mei!"^ahd^tnth n o n e t income0 is hase d on the amount of slet income for excess-prof its tax computation.
Data for 1936 and 1937 included in "gross income", "net income" and "deficit". For 1932 - 1937 » do^s no^ Include dividends received on stock of domestic corporations not subject to
taxation under Title I of the effective revenue act*
|!
Data reported in schedule on return (For 1937 , Schedule M, p. 4 °f return).
Included in "gross income", "net income for excess-profits tend', and "deficit for excess-profits tax" in table 1 *
Interest on obligations of States and Territories or political subdivisions thereof, securities issued under Federal Farm Loan Act, or such act as amended, obligations of the United S
issued on or before September 1 , 1917 . Treasury notes, Treasury bills, Treasury certificates of indebtedness, and United States savings bond and Treasury bonds owned in principal amoun
$5,000 or less.

es
o

g
Í!

§/

Revised. For 1934 » the amount of cash dividends paid by corporations reporting net income and submitting balance sheets with total assets of under $50,000 (for which consolidated returns
were not filed for 1933) ln the "finance" group, in Wisconsin, is decreased by $ 30 ,000 ,000 . For 1930 , the amount of cash dividends paid by corporations reporting net^ income, m
e
"construction" groutp, in Pennsylvania, is decreased by $l8 ,000 ,000 . For 1929 , the amount of cash dividends paid by corporations reporting net income, but not submitting
once
ee s,
in the "metal and its products" group, in Michigan, is increased by $ 164 ,150 ,000 . For 1928 , the amount of cash dividends paid by corporations reporting net income m t
00 pro uc s,
beverages, and tobacco" groups, in North Carolina, is increased by $9 ,000 ,000 .
,
*. .yy. .yy.
, under
Revised. For 1934 , the amount of interest received on tax-exempt obligations by corporations reporting no net income and submitting balance sheets with^ uotal assets o $ ,
>
9X1
$5 ,000,000 (for which consolidated returns were filed for 1933) tn the "trade" group, in New York, is decreased by $¿1 ,900 ,000 . For 1930 » the amount of interest receive on
exemp
obligations by corporations reporting no net income in the "trade" group is decreased by $10,000,000.

Table

3 »—

Corporations, 1928- 1937 * number Qf returns with net incone and (with no net income < gross incone, deductions, net income, deficit,
net income less deficit, income tax, excess-profits tax and total taxi also number of inactive corporations
(Money figures in thousands of dollars)

Year

î
Numl3er of returns
:
Total
: 1 excluding
Returns with;Returns with;
: number of
: inactive N net income : no net . ;
1/
. income 1/
:corporations)

Gross
income 2j

Deductions
Net income
2/
gj|| ’

Deficit

Net income :
Income tax
less deficit:

.Excess
profits tax

Number of
returns
of
Total tax *
inactive
corporations

477.839

192,029

285,810

141,967,201

134 ,613,197

3,634,849 3/

2,280,846 3/

7 ,354,003

1,232,838

43.345

1,276,184 8/

51.259

1936

478,857

203,l6l

275.898

132,277,933

124 ,951,715

9,478,241 3/

2,152,024 3/

7,326,218

1.169.765

21,613

1,191,378 8/

51,922

1935

477.113

164,231

312,882

113,936,170

112,240,221

5.164.723

3.468,774

1 ,695,950

710,156

24,969

735.124

56,518

1934

469,804

145.101

324.703

100 ,831,253

100,737,083

4.275.197

4,181,027

94,170

588,375

7.673

596,048

59,094

1933

443,842

109,786

337,056

83,6,42,420

86,189,788

2 ,985,972

5 .533,339

2 ,547.367

6/

416,093

6.976 2/

423,068

57.238

1932

451.884

82,646

389,238

81,083,738

8 6 ,727,312

2 ,153,113

7.796,687

5 .643,574

6/

285,5765/

-

285.576 5/

56,752

1931

459.704

175,898

283,806

107,515,233

110,802,784

3,683,368

6,970,913

3,287.545 6/

398,994

-

398,994

56,700

1930

433,038

221,420'

241,6l6

136,062,059 5/

134,510,841 5/

6,428,813

4,877.595

1,551.218

711,704

-

711,704

55,700

1923

456,021

269,430

186,591

l60,6pi,509

151,881,751

11,653,886

2,914,128

8 ,739,758

1 ,193,436

-

1.193.436

53.415

1928

443.811

268,783

174,828

152 ,781,514 5 /

144 ,554,898 5 / 1 0 ,617,741

2 ,391,124

8,226,617

1,184,1.42

-

1,184,142

52,281

1937

s/

17

For 193 /» the classification of returns '’with net income” and "with no net income" is based, on the amount of net income for excess-profits tax computation (item 28 , Schedule A, p. 2 of return).
For 1936 and prior years, the classification was based on the amount of net income for incope tax computation.
2/ For 1938 and 1937> "gross income" and "deductions" correspond to "total income" and "total deductions", plus, in each instance, "cost of goods sold" and "cost of operations". Unlike former
years, "gross income" includes interest received on certain Government obligations, which is subject to excess-nrofits tax, and "deductions" include contributions or gifts (limited to 5 percent
of net income before deduction of contributions or gifts) and exclude dividends received on stock of domestic corporations. For 1934 end 1933 » "gross income" and "deductions" correspond to
"total incbme" and "total deductions" as reported on face of return, plus in each instance, "cost of goods sold" and "cost of operations".
Interest received on Liberty bonds, etc. as reported
on face of return has been deducted from gross income so that gross income will include the sape items as in 1932 and 1933 * For 1932 and 1933 » "gross income" and "deductions" correspond to
"total income" and "total deductions" as reported on face of return, plus, in each instance, "cost of goods sold" and "cost of operations". For 1928-1931 » " gross income" and "deductions"
correspond to "total income" and "total deductions" as reported on face of return, plus "cost of goods sold".
3/ For 1938 and 1937 * "net income" and "deficit" represent the amount for excess-profits tax computation.
4/ Preliminary figures-

3/

Revised. For gross income and deductions for 1930 » seo Statistics of Income for 1931 » PP* 32 » 33 *
income and deductions for 1928, see Statistics of Income for I93O, P* 238.
2/ Deficit in excess of net income.
JJ. Effective June 30 , 3-933* mxder provisions of National Industrial Recovery Act.
21 For 1936 , includes surtax on undistributed profits of $ 144 .972 ,284, and for 1937 » $ 175 ,897^696 .

For income tax and total tax for

4

1932 »

see Statistics of Income for

1933 »

P*

37 *

For gross

fs & à s m r M P à sm m n
Washington
Press Servies

Rg l s a s f , w m m ® w s m p i m s s ^
^uesday, aigus t 22. 1939«
8/21/39

fos

The Seoretary of the Treasury announced last evening that the
tendere for $100,000,000, or thereabouts, of 91«day Treasury bille, to
be d&ted August 23 and to mature Noveraber 22, 1939, efciefc «are offered
on August 18, vers ope ned at thè Federai Reserve banks on August 21.
The détails of this issue are as follava:
Total applied for
Total aecepted

»
«

$818,404,000
100,858,000

Rangs of aecepted bléss
Hi &
Low
Average pris#

.

100

99.987
99.989

Equivalent rate approxivstely 0.051 percd
*
*
*
0.042

<50 percent of the amount bld for at tha low prisa mas aecepted)

TREASURY DEPART! "ENT
Washington

FOR RELEASE, MORNING NEWSPAPERS
Tuesday* August 22» 1939»
8/21739

Press Service
^-^"5

The Secretary of the Treasury announced last evening that the tenders
for $100,000,000, or thereabouts, of 91-day Treasury bills, to be dated
August 23 and to mature November 22, 1939 * which were offered on August 18,
were opened at the Federal Reserve banks on August 21#
The details of this issue are as follows:
Total applied for
Total accepted

—
—

$218,4-04*000
100,858,000

Range of accepted bids:
High
Low
Average Price

(30

100#
99# 987
99.

Equivalent rate approximately 0.051 percent
h
’>
n
0*042
n

percent of the amount bid for at the low price was accepted)

-o0o—

PRESS RELEASE

The Acting Commissioner of Customs announced today that preliminary
reports from the collectors of customs show that entries for consumption and
withdrawals from bonded pastures for consumption have been accepted covering
cattle subject to the quota provisions of the Canadian Trade Agreement, as
follows:

Period
Covered

•
#

:

Class of Cattle

:

Head

:
:

Percent of
Tariff Rate Quota

July 1 to Aug.
24, 1939

Cattle weighing 700 pounds
or more each, other than
dairy cows, from Canada

39,373

76.1% of quota
for third quarter
of calendar year

July 1 to Aug.
19, 1939

Cattle weighing 700 pounds
or more each, other than
dairy cows, from other
countries

7,275

87.9% of quota
for third quarter
of calendar year

Jan. 1 to Aug.
24, 1939

Cattle weighing less
than 200 pounds each

96,916

96.9% of quota
for calendar year

-0O0

TREASURY DEPARTMENT
Washington

Press Service
No* 18-57a

t IMMEDIATE RELEASE
today, August 26, 1959.

The Acting Commissioner of Customs announced today that preliminary reports
Irom the collectors of customs show that entries for consumption and withdrawals
from bonded pastures for consumption have been accepted covering cattle subject
tothe quota provisions of the Canadian Trade Agreement, as follows.

Period
Covered

Head

Class of Cattle

July'l to Aug.
24, 1939

Cattle weighing 700 pounds
or more each, other than
dairy cows, from Canada

39,373

iuly'l to Aug#
19, 1939

Cattle weighing 700 pounds
or more eabh, other than
dairy cows, from other
countries

7,275

lan.'l to Aug*
Cattle ireighing
24, 1939
than 200 pounds each

less

Percent of
Tariff Rate Quota

76*1% of quota
for third quarter
of calendar year

96,916

87.9% of quota
for third quarter
of calendar year

96,9%, of qtiota
for calendar year

•HUSAStTRT DEPAOTIPWT

m

B a « M Beton

Presi Serriee

JOB RSISASK, MOSRBB KSW3P4PSRS,
TttOBday, AnffMt 8». 1989.

I ? - ? l

8/28/39

flte Secretar* e f tbe Treaaary aanounaed laat efesia* tbat tk* teader»
Itor #10 0 ,0 0 0 ,00 0, or tbereabout©, ©f 9X«dajr Tree«ary M ila , io

dated August

80 end to »etere Ifeteaber 29, 1959, «blob «ere offered oa de*e«t SS, »ere
opemed et tbe Federai Resero© Seal» oa Augmt SS*
The dotali« of tbi» isau© ero ee folle»»:
Total applied for
Total aeeepted

•
*

Rango o f aeeepted bidè:
Higb
Lo»

Aver«*© prie©

*
•

$320,012,000
100,SO®,000
(Sxcepting oae bid of $190,000}
99,990
99*980
9 9 .9 8 1

Squivalest rete approxiaetely 0*040 pereent

*
*

*

*

®*0 f9
*****

<88 pereent ©f tbe aacnrnt bid for et tbe
tbe lo»
lo» prie«
priee eoo aeeepted)

*

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, August 29. 1939._____
8/28/39.

Press Service
No* 18-58

The Secretary of the Treasury announced last evening that the tenders
for $100,000,000, or thereabouts, of 91-day Treasury bills, to be dated August
30 and to mature November 29, 1939, which were offered on August 25, were
opened at the Federal Reserve banks on August 28.
The details of this issue are as follows ;
Total applied for
Total accepted

- $320,012,000
- 100,4-03,000

Range of accepted bids:
High
Low
Average price

(Excepting one bid of $160,000)

- 99.990
- 99.980
- 99.981

Equivalent rate approximately 0.04-0 percent
"
»
"
0.079
”
n
”
"
0.076

(88 percent of the amount bid for at the low price was accepted)

— oOo-

TREASURY DEPARTMENT
Washington

Press Service
FTo* 18-59

FOR M E D I A T E RELEASE
Friday, September 1, 1939

Acting Secretary Hanes today issued the following statement:
We will not borrow any new money at this time*

Secretary Morgenthau’s

policy of maintaining substantial cash balances at all times makes un­
necessary any cash financing now*

The question of refunding in advance

the 1 3/Q% notes maturing December 15 will not be considered finally
until next Tuesday or Wednesday*

- 0O 0—

for

miMsi, m w a m m m p m m *

Press s©rnc©

Saturday, September 2» 1939,
W m *

The secretary of the Treasury announced last evening that the tenders for
$100,000,000, or thereabouts, of 91-day Treasury bills» to be dated September
6 and to mature December 6» 1939» which «ere offered

m

August 30» were opened

at the Federal Reserve banks on September 1«
The details of this issue are as follows:
Total applied for
Total accepted

-

#333,135*000
100,358,000

Bangs of accepted bids:
High
Low
Average price

(Accepting one bid of #37,000)

- 99*993
- 99.965
- 99*973

Equivalent rate approximately 0*038 percei
•
•
•
0*138
"
•
*
*
0*108
*

(6 percent of the amount bid for at the low price was accepted)

c©

TREASURY DEPARTMENT
Washington
Press Service
No. 1&-60

FOR RELEASE, MORNING NEWSPAPERS,
Saturday, September 2, 1939.
v 'A/39

The Secretary of the Treasury announced last evening that the tenders
for $100,000,000, or thereabouts, of 91-day Treasury bills, to be dated
September 6 and to mature December 6, 1939,

which were offered on August 30,

were opened at the Federal Reserve banks on September 1*
The details of this issue are as follows:
Total applied for
Total accepted

~
-

Range of accepted bids:

$322,135,000
100,358,000
(Excepting one bid of $37,000)

High
- 99*993 Equivalent rate approximately 0.C28 percent"*
Low
- 99*965
"
11
~ 11
0.138
w
Average price - 99*973
11
n
”
0*108
”
(6 percent of the amount bid for at the low price was accepted).

— oOo-

ffRESS RELEASE

The Acting Commissioner of Customs announced today that preliminary
reports from the collectors of customs show imports of 98,254 head of
cattle weighing less than 200 pounds each during the period January 1 to
August 31, 1939.
Under the quota provisions of the trade agreement with Canada, the
number of head of cattle of this class which may be entered, or withdrawn
from warehouse, for consumption during the calendar year at the lower rate
of 1-J cents per pound, provided for therein, is limited to 100,000 head.
Imports of this class of cattle in excess of the quota for the calendar
year would be dutiable at the full rate of 2j cents per pound under the
Tariff Act of 1930.
Since these reports show this tariff rate quota to be 98.25 percent
filled as of August 31, 1939, the collectors of customs have been instructed
to collect estimated duties at the full tariff rate of

cents per pound

on imports of this class of cattle, effective September 4, 1939, pending
fulfillment of the quota.

As soon as the quota status of such imports

can be determined, the collectors of customs will be advised as to the
rates of duty applicable to particular importations, and refunds will be
made of excessive duties deposited on importations which are found to be
within the quota limitation.
— ooOoo—

TREASURY DEPARTMENT
Washington

Press Service
No* 18-61

FOR IMMEDIATE RELEASE.'
Saturday, September 2, 1939.

The Acting Commissioner of Customs announced today that preliminary
reports from the collectors of customs show imports of 98,254 head of
cattle weighing less than 200 pounds each during the period January 1 to

August

31, 1939*

Under the quota provisions of the trade agreement with Canada, fche
number of head of cattle of this class which may be entered, or withdrawn
from warehouse, for consumption during the calendar year at the lower rate
of li cents per pound, provided for therein, is limited to 100,000 head.
Imports of this class of cattle in excess of the quota for the calendar
year would be dutiable at the full rate of | | cents per pound under the
Tariff Act of 1930*
Since these reports show this tariff rate quota to be 98.25 percent
filled as of August 31, 1939, the collectors of customs have been instructed
to collect estimated duties at the full tariff rate of 2-g- cents per pound
on imports of this class of cattle, effective September 4, 1939, pending
fulfillment of the quota.

As soon as the quota status oi such imports

can be determined, the collectors of customs will be advised as to the
rates of duty applicable to particular importations, and refunds will be
made of excessive duties deposited on importations which are found to be
vd.thin the quota limitation.

— 000—

PRESS RELEASE

The Acting Commissioner of Customs announced today that
preliminary reports from the collectors of customs show that
entries for consumption and withdrawals from bonded pastures for
consumption of cattle weighing 700 pounds or more each, other than
dairy cows, have been accepted covering 42,930 head from Canada
during the period July 1 to August 31, 1939, and 7,461 head from
other countries during the period July 1 to August 26, 1939.
This total from Canada represents 83.0 percent and that from
other countries 90.1 percent of the tariff rate quotas on imports
of this class of cattle for the third quarter of the current calendar
year, provided for in the trade agreement with Canada.

— ooOoo—

TREASURY DEPARTMENT
Washington

CO I-Ij

Press Service
No* 18—62

OR IMMEDIATE RELEASE'
aturday, September 2, 1959,

The Acting C orimissi oner of Customs announced today that preliminary
reports from the collectors of customs show that entries for consumption
and withdrawals from bonded pastures for consumption of cattle weighing
700 pounds or more each, other than dairy cows, have been accepted covering
42,930 head from Canada during the period July 1 to August 31, 1939, and
7,461 head from other countries during the period July 1 to August 26, 1939*
This total from Canada represents 83*0 percent and that from other
countries 90.1 percent of the tariff rate quotas on imports of this class
of cattle for the third quarter of the current calendar year, provided
for in the trade agreement with Canada.

-oOo-

TREASURY DEPARTMENT
Washington
Press Service
No. 18-63

H3

OR IMMEDIATS RELEASE,
uesday, September 5, 1939,

Secretary Morgenthau today announced that W. R. Burgess,
Vice Chairman of the National City Bank of New York;
Tom K. Smith, President of the Boatmen’s National Bank of
St. Louis; Earle Bailie,

Chairman of Tri-Continental Corpora-

tion and associated companies and a member of J. & W. Sellgman
and Company, have taken leaves of absence from their businesses
and will act temporarily as special advisers to the T reasury.

-oOo

U. S. COAST GUARD

F o r m 9626

T R E A SU R Y D E P A R T M E N T

Ü. S. C oast G uard
Sept. 1930

O F F IC IA L DISPATCH

TRANSMIT
DATE
FROM

COAST GUARD HEADQUARTERS
C IP H E R

TO (FOR ACTION)

ACKNO W LED G E

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this

of v o w s *
d i s p a t c h

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R O U T IN E

TO (FOR INFORMATION)

ACKNO W LED G E
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R O U T IN E

M AIL TO
TELEP H O N E TO
M ESSEN G ER TO
O utgoing

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2 ” “1 6 4 1 7

s

-VvV,

(^

fi/ ■

o A

'— 4 * A
A\Ju

-

IV
i/

Secretary Iforgenthau today sent two telegrams, one to
customs collectors and one to Coast Guard d istrict commanders, infoiming th
that the President had issued a proclamation under the aatkiiytty authority
conferred on him by i h r x g j r e f t s d e B E 3rtir>rt±tin section 245a of tit

22jk of

the U* S* Code, fourth supplement*

2?he telegrams follow!

ST A N D A R D FO R M N o. !4
Approv ed b y t h e p r e s id e n t
Ma rch 10. 1926

F rom

cs&tom

B u rea u _

TELEGRAM

C hg . A ppropriation ____

O F F IC IA L B U SIN ESS—GOVERN M EN T R A TES

(T, S. GOVERNMENT PRINTING OFFICE: 1933

to

MX m & m w m

o r §m :tm ê§

ffaâm*

of

fmmiämt «

% S# mem rmrtk

$f I » #

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m&& tfec

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«#»' *®«UmU f g f tmmlm- »XI §m»tbU » #

«

IQ— 1723

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tlmmêm Xmmé màm 9* i* Coi# « r t K QijipXottont u t l o fJ

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- 'v/*

■

■

*

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Tuesday, September 5, 1939*

Press Service
No, I 8-64.

Secretary Morgenthau today sent two telegrams, one to customs collectors
and one to Coast Guard district commanders, informing them that the President
had issued a proclamation under the authority conferred on him by section 24-5a
of title 22 of the U. S, Code, fourth supplement.

The telegrams follow:

»TO ALL COLLECTORS OF CUSTOMS:
Under authority of U, S, Code Fourth Supplement title 22 section
24.5a the President on September 5, 1939, issued proclamation declaring
that state of war exists between Germany and France; Poland; and the
United Kingdom, India, Australia and New Zealand,

Exercise all possible

care in enforcing article 178 Customs Regulations 1937 and regulations
governing international traffic in arms enclosed with Bureau Circular
Letter 1833 of April 9 } 1938,

Return immediately to State Department

all licenses issued under U, S, Code Fourth Supplement title 22 section
24.5b authorizing exports to countries above named including French and
British possessions but not Canada or South Africa. U, S, Code Fourth
Supplement title 22 section 24-5f makes it unlawful for any United States
citizen to travel on any vessel of the belligerents except under regu­
lations issued by President unless voyage was begun before date of
President’s proclamation and no opportunity afforded to discontinue
voyage.

Travel on vessels of belligerents does not apply to United

States citizens for 90 days after date of proclamation when citizen
is returning from a foreign state to the United States,

You are in­

structed to prevent unauthorized travel by United States citizens on

2

vessels of the belligerents and in accordance with U. S. Code Fourth
Supplement title 22 section 2A5f-lto prevent the departure of any
American vessel engaged in commerce with any belligerent when armed
or carrying any arms ammunition or implements of war not authorized
by the President*

Take no action except upon request of the Navy

Department with respect to vessels of war of neutral and belligerent
powers.

Determine whether alleged merchant vessel is vessel of war

on basis Department letter of September

3, 1939.

H. Morgenthau, Jr*,
Secretary of the■Treasury.*

"TO ALL DISTRICT COMMANDERS AND CAPTAINS OF PORTS:

Under authority of United States code fourth supplement title 22
section 245a the president on September 5 , 1939 , issued proclamation
declaring that state of vrar exists between Germany and France; Poland;
and the United Kingdom, India, Australia and New Zealand.

Exercise all

possible care in enforcing article 178 customs regulations 1937 and
regulations governing international traffic in arms.

Cooperate fully

with collectors of customs in these matters.
H. Morgenthau, Jr.,
Secretary of the Treasury."

— oOo—

ST A N D A R D F O R M N o. 14
A pprov ed

b y t h e P r e sid e n t
m a r c h 10, 1926

F rom

TELEGRAM
OFFICIAL BUSINESS-GOVERNMENT RATES

B u reau .

cwsTcae

C hg . A ppropriation .

0 . 8. GOVERNMENT PRINTING OFFICE: 1033

w

of

tte p zrtn m t mtùmr d®èlmrm a U pmmptsrU èar«tofor* LsmeA bj

ôtât*
tei«

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rosea» te

ta

Stet« aopartnont.SBr S t a »

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ào&ric&ii ittosport* set v&Xldfetod lUTit** Septeaiber 4

|

Ä g s s d i) H . M orgenthau, J * .
Secretary of ih#

BBÏte

IQ— 17|3

fypûé

9/ B / 3 9

Trm m r?

To assist the State Department in the carrying oirt
of its recent order affecting passports, Secretary Morgenthau has sent
the following telegram to collectors of customs*

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, September 6, 1939*

Press Service
No. 18-65

To assist the State Department in the carrying out of its recent
order affecting passports, Secretary

Morgenthau has sent the following

telegram, to collectors of customs;
"TO COLLECTORS OF CUSTOMS*
State Department order declares all passports heretofore
issued by this Government invalid for travel to any country in
Europe unless first validated by State Department.

Station cus­

toms officers at departing vessels to examine passports travelers
destined to Europe and take up from such travelers for immediate
transmittal to State Department American passports not validated
after September 4> 1939*
H# Morgenthau, Jr.,
Secretary of the Treasury."

— oOo-

lot» 1939«

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sbomnmM c oareor*

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Soor^ttoy o f Dm Tæmm&T»
B« c«

Secretary Morgenthau announced today the appointment^
effective tomorrow.of Basil Harris as Commissioner of Customs
)

and Assistant to the Secretary.

James H. Moyle has resigned^

effective today^as Commissioner of Customs to become an Assistant
to the Secretary.
Mr. Harris^who has been in the shipping business for
27 years and who has resigned as a Vice President of the United
States Lines to accept his new position in the Treasury will be
Secretary Morgenthau*s chief adviser and administrator on all
matters arising under the shipping phases of the Neutrality Act
insofar as they affect the Treasury.
Secretary Morgenthau also announced that Assistant
Secretary Herbert E. Gaston will hereafter be in charge .of the
An

Coast Guard, the Bureau of Narcotics and the
/A

Coordlnati^A^Commlttee for Treasury Law Enforcement activities.
The first

of these duties have formerly been

handled, together with the Bureau of Customs, by Assistant
Secretary Stephen B. Gibbons whose resignation was accepted
today by President Roosevelt.

Secretary Morgenthau made public

the following exchange of correspondence between himself and
Mr. Gibbons:

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, September 6, 1939.

Press Service
No* 18-66

Secretary Morgenthau announced today the appointment, effective
tomorrow, of Basil Harris as Commissioner of Customs and Assistant to the
Secretary*

James H. Moyle has resigned, effective today, as Commissioner

of Customs to become an Assistant to the Secretary*
Ur. Harris, who has been in the shipping business for twenty-seven
years and who has resigned as a Vice President of the United States Lines
to accept his new position in the Treasury will be Secretary Morgenthau»s
chief adviser and administrator on all matters arising under the shipping
phases of the Neutrality Act insofar as they affect the Treasury*
Secretary Morgenthau also announced that Assistant Secretary Herbert
E. Gaston will hereafter be in charge of the Coast Guard, the Bureau of
Narcotics, Secret Service and the Coordinating Committee for Treasury Law
Enforcement activities*
The first two of these duties have formerly been handled, together
with the Bureau of Customs, by Assistant Secretary Stephen B. Gibbons
whose resignation Y/as accepted today by President Roosevelt*

Secretary

Morgenthau made public the following exchange of correspondence between
himself and Mr* Gibbons:

2
September 1st, 1939*
%- dear Mr» Secretary:
I am submitting herewith m y resignation as one of your Assistants,
effective September 30th, 1939, if that date is agreeable to 3rou*
As I explained to you, I regret I cannot see ny way clear, longer
to continue in Government service, as I have not only enjoyed my work
tremendously but I shall always regard my association with you as one of
the high spots of my career*
Your ability to immediately grasp details; your capacity for work;
your open-minded consideration of any constructive suggestion and your
fearlessness in’making decisions on public questions which have frequently
required more than ordinary courage, are but a few of your many worthwhile
endowments.
The improvements you have effected in the Coast Guard alone, would
in themselves be an accomplishment of a lifetime, not to mention many others,
some of which I am familiar with* The coordination of the Investigative
Units of the Department, which has resulted in increased efficiency, re­
quired considerable courage in my opinion as it represented a major^depart­
mental adjustment. You displayed even more courage when you determined to
consummate an improvement which, in my opinion, only lack of moral courage
had delayed for at least fifteen years. I refer to the decentralization
effected in the Internal Revenue Bureau which will result in a great saving
of time and expense to the taxpaying public.

*

If I have been of any slight assistance in relieving your burdensome
task during the past six years, I feel fully compensated and I* trust you
will command me, if at any time I may be of service*
With assurances of my high regard and best wishes for a continued
successful career, I remain,
Sincerely yours,
Hon. Henry Morgenthau, Jr.,
Secretary of the Treasury,
Washington, D. C.

Stephen B. Gibbons.
September 6 , 1939*

My dear Steve:
I thank you most sincerely for the expression of pride in the record
of this Department which was contained in your letter of September 1, trans­
mitting
your resignation. It is a record in which you may well take pride,
for you have played an essential part in the making of it*
Although you told me some time ago of your intention to leave about
the endof this month, I take formal note
of your resignation with real

-

3

-

regret»
No one could have rendered more loyal and faithful service to
his government in your post than you have rendered. It has been a great
source of satisfaction to me to have in a position of such responsibility
one of your ability, your devotion to duty and your complete integrity.
For the fine service you have rendered and for the pleasure of
association with you I am deeply grateful. We shall all miss you, but
shall wish for you the greatest success and satisfaction in your new
work.
Sincerely,
Hon. Stephen B. Gibbons,
Assistant Secretary of the Treasury,

«—

0O 0—

Henry Morgenthau, Jr.
Secretary of the Treasury,

TREASURY DEPARTMENT
Washington
FOR B M E D I A T E RELEASE,
Thursday, September 7, 1939*

Press Service
No. 1&-67

Secretary Morgenthau announced today that Jacob Viner of the
University of Chicago and Walter W. Stewart

and Winfield W, Riefler,

both of the Institute for Advanced Study, Princeton, New Jersey, have
obtained leaves of absence from their academic posts and will act
temporarily as special advisers to the Treasury#

«oOo—

PRESS RELEASE

The Acting Commissioner of Customs announced today that preliminary
reports from the collectors of customs show imports from Canada of
46,803 head of cattle weighing 700 pounds or more each, other than dairy
cows, during the period July 1 to September 6, 1939, inclusive.
This total represents 90.5 percent of the tariff rate quota on
imports of this class of cattle from Canada for the third quarter of the
current calendar year, provided for under the quota provisions of the
Canadian Trade Agreement.

— oOo—

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE'
Thursday, September 7, 1939

. Press Service
No« 1&»68

The Acting Commissioner of Customs announced today that preliminary
reports from the collectors of customs show imports from Canada of
46,803 head of cattle weighing 700 pounds or more each, other than dairy
cows, during the period July 1 to September 6 , 1939, inclusive«
This total represents 90«5 percent of the tariff rate quota on
imports of this class of cattle from Canada for the third quarter of the
current calendar year, provided for under the quota provisions of the
Canadian Trade Agreement«

~o0o~

COMPARISON OF EARNINGS, EXPENSES AND DIVIDENDS OF NATIONAL BANKS FOB YEARS ENDED JU®
3 0 , 193 g AND 1939
(Amounts in them sands of dollars)
•
Six months ended
a
e
^ June 3^> \ Dec« 31,
1938
;
!939
;
Capital stock« par value:
$2 ^ 6 ,5 7 3
Preferred«.......... • ......... ......
Common«••••••••••«•••••••••••• ...... 1.519.430
TOTAL CAPITAL STOCK........ ...... 1,506,003
Capital funds*................ . ......

.
•

\
;

Year ended
a
- ■
June 30, ^ June 30,
1939
;
1933

$246,573
1.319.430
1,566,003

1 ,5 7 7 M i )

3,389,512

$2 57,4 3 7
1.317.658
1,575,095
3,32S,1W

3,389,512

3,273,819

188,366

188,783

377 ,l**9

377,076

15?,505
14,825
18,426
25,883
18,034

153,19**
16,860

303,699

17,952
26,327
19.980

36,378

4i£Jo 39

423,696

839,135

313,*»3
33 ,**7
33,519
53,092
140.014
850,551

49,511
71,278
58,851

50,058

99,569

73,298
59,382

14 4 ,5 7 6

10 ,690
1 6 ,7 1 0

1 1 ,2 0 7

118,233
21,897

$266,095
1.311.326

Gross operating earnings?

Interest and discount on loans«••«••«
Interest and dividends on bonds and
securities* ..........
Trust department*....... .
Service charges on deposit accounts«•
Bent received*••••••••••...........
Other earnings..... ........ •••••••
TOTAL GROSS OPERATING EARNINGS.....

.

3 1 ,6 8 5
5 2 ,2 10
38,014

Gross operating expenses:
Salaries and wages—
Officers..... ............ ••••••
Employees other than officers.....
Interest on time and savings deposits«
Beal estate taxes««««........ .....
Other taxes««««««««««««*«**«*......
Other expenses«••••••••••«•••••••••••
TOTAL GROSS OPERATING EXPENSES....

82.783
289,823

14,340
78.636
286,921

3 1,0 5 0
1 6 1 .4 1 9
57 6 ,74 4

NET OPERATING EARNINGS..............

126,216

136,175

2 6 2 ,3 9 1

264,6691

17,030
17,853
4,591

33,412
35,217
13,504

3 9 ,w

16,382
17,364
8,913
42,059

84,517

**5,273

129 ,79 0

38,768
29,382
l6,972j
85,122j
76,620

123,991

87,932

2 11,9 2 3

161,7“«

31,540
58,807

53 ,3 5 7
5 7 ,5 1 6

84,897
116,323

66,203
103,009

11,562
9,408

27,371
20,769
249,360

2 1 7 ,M L

224,954

208,^3

8,468
129.330
137,798

9 Jkf>
133,998

Recoveries:
On loans*...... ..................
On bonds and securities*******.....
All other*....... .............. .
TOTAL RECOVERIES................
Profits on securities sold.««........
TOTAL RECOVERIES AND PROFITS ON
SECURITIES SOLD....... *.........
Losses and depreciation:
On loans« ...... **•*.•••*•♦•♦•*•♦••♦♦*
On bonds and securities....... ......
On banking house, furniture and

fixtures«.•.•.... ••••••••.....
All other«•••••••••••••*••••*••••••••
TOTAL LOSSES AND DEPRECIATION.... .

111,337

15,789
11,361
138,023

NET PROFITS BEFORE DIVIDENDS...........

138,870

86,084

Dividends declared:
On preferred stock....... .
On common stock.••«•••••«•.
TOTAL DIVIDENDS DECLARED.

Number of banks

4 ,1 9 1

4 ,2 7 7

66,025

63,305

7 0 ,2 16

67,58 2

5,20 9

5,230

82,133

5,209

97,19S
l42,HH5
1-25,231
22,266
31,533
167.209

585,852

24,592
g4.1fej

5,248

TREASURY DEPARTMENT
Washington
FOR,RELEASE MORNING NEWSPAPERS

%

4

H

3

PRESS SERVICE
No. j5^6

i

Comptroller of the Currency Preston Delano announced today that the 5,209
active national banks in the country on June 30, 1939» reported gross earnings
for the first six months of 1939 amounting to $416,039,000 and expenses of
$289,323,000, resulting in net earnings from current operations of $126,216,000,
compared to $136,175*000 la the previous six months. Adding to the net earnings
profits on securities sold of $8^,517*000 and recoveries on loans and invest"
ments, etc., previously charged off of $39*474,000, less losses and deprecia­
tion of $111,337*000, the net profits before dividends in the period amounted
to $133,870,000, which was 8.87 per cent of the par value of common and pre­
ferred stock and 4.10 per cent of capital funds.

Dividends declared on common

and preferred capital were $66 ,025,000 and $4,191,000, respectively, a total of
$70 ,2 16 ,000, representing 4.48 per cent of the total par value of capital stock.
In the year ended June JO, 1939* the net profits of national banks before
dividends were $224,954,000, rewriting in an increase of $16,531,000 in the
amount reported for the previous year.
The gross earnings from current operations aggregated $839,135,000 and the
expenses $576,744,000, resulting in net earnings from current operations of
$262,391*000> a decrease of $2,278,000 in the year.

Recoveries from assets

previously charged off of $2 1 1 ,923 *000, including profits on securities sold of
$12 9 ,790 ,000, increased $50,181,000, and losses and depreciation charged off of
$249,360,000 increased $3 1 ,372 ,000.
Dividends declared on common and preferred stock totaled $137,798,000, in
comparison with $143,764,000 in 1938. The dividends were 8.80 per cent of
common and preferred capital and 4.07 per cent of capital funds.

TREASURY DEPARTMENT

.Washington
FOR RELEASE MORNING NEWSPAPERS,
Saturday, September 9* 1939.
9/8/39.

Press Service
No, 18-69

Comptroller of the Currency Preston Delano announced today that the 5,209
active national banks in the country on June 30, 1939, reported gross earnings
for the first six months of 1939 amounting to $416,039,000 and expenses of
$289,823,000, resulting in net earnings from current operations of $126,216,000,
compared to $136,175,000 in the previous six months*

Adding to the net earnings

profits on securities sold of $84-, 517,000 and recoveries on loans and invest­
ments, etc,, previously charged off of $39,4-74,000, less losses and depreciation
of $111,337,000, the net profits before dividends in the period amounted to
$138,870,000, which was 8*87 per cent of the par value of common and preferred
stock and 4,10 per cent of capital funds.

Dividends declared on common and

preferred capital were $ 66 ,025,000 and $4,191,000, respectively, a total of
$70,216,000, representing 4,48 per cent

of the total, par value of capital stock.

In the year ended June 30, 1939, the net profits of national banks before
dividends were $224,954,000, an increase of $16,531,000 in the amount reported
for the previous year.
The gross earnings from current operations aggregated $839,135,000 and
the expenses $576,744,000, resulting in net earnings from current operations of
$262,391,000, a decrease of $2,278,000 in the year.

Recoveries from assets

previously charged off of $211,923,000, including profits on securities sold
of $129,790,000, increased $50,181,000, and losses and depreciation charged off
of $249,360,000 increased $31,372,000,
Dividends declared on common and preferred stock totaled $137,798,000,
in comparison with $143,764,000 in 1938#

The dividends were 8,80 per cent of

common and preferred capital and 4*07 per cent of capital funds.

TREASURY DEPARTMENT

Washington
FOB release

unmma NEWSPAPERS

PRESS SERVICE
No*

M

]S

Comptroller of the Currency Preston Delano announced today that the 5,209
active national hanks in the country on June 30* 1939» reported gross earnings
for the first six months of 1939 amounting to $*116 ,039,000 and expenses of
$289,823,000, resulting in net earnings from current operations of $126,216,000,
compared to $136,175*000 la the previous six months* Adding to the net earnings
profits on securities sold of $8*4-,517*000 and recoveries on loans and invest**
ments, etc., previously charged off of $39*474,000, less losses and deprecia­
tion of $111,337*000, the net profits before dividends in the period amounted
to $133,870,000, which was 8.87 per cent of the par value of common and pre­
ferred stock and 4*10 per cent of capital funds*

Dividends declared on common

and preferred capital were $66 ,025,000 and $4,191,000, respectively, a total of
$7 0 ,2 1 6 ,000 , representing 4*48 per cent of the total par value of capital stock*
In the year ended June 30 * 1939» the net profits of national hanks before
dividends were $224,954,000, resulting in an increase of $16,531,000 in the
amount reported for the previous year*
The gross earnings from current operations aggregated $839*135,000 and the
expenses $576,744,000, resulting in net earnings from current operations of
$262,391*000, a decrease of $2,278,000 in the year* Recoveries from assets
previously charged off of $2 1 1 ,923 ,000 , including profits on securities sold of
$12 9 ,790 ,000 , increased $50,181,000, and losses and depreciation charged off of
$249,360,000 increased $3 1 ,3 7 2 ,000.
Dividends declared on common and preferred stock totaled $137*798,000, in
comparison with $143,764,000 in 1938* The dividends were 8*80 per cent of
common and preferred capital and 4*07 per cent of capital funds*

TREASURY DEPARTMENT
Washington
for r e l e a s e m o r n i n g

Press Service
No* 18-69

newspapers,

Saturday* September 9* 1939.
9/8/39.

Comptroller of the Currency Preston Delano announced today that the 5,209
active national banks in the country on June 30, 1939, reported gross earnings
for the first six months of 1939 amounting to $416,039,000 and expenses of
1289.823.000, resulting in net earnings from current operations of $126,216,000,
compared to $136,175,000 in the previous six months*

Adding to the net earnings

profits on securities sold of $84,517,000 and recoveries on loans and invest­
ments, etc*, previously charged off of $39,474,000, less losses and depreciation
of $111,337,000, the net profits before dividends in the period amounted to
$138,870,000, which was 8*87 per cent of the par value of common and preferred
stock and 4.10 per cent of capital, funds*

Dividends declared on common and

preferred capital were $ 66 ,025,000 and $4,191,000, respectively, a total of
170.216.000, representing 4.48 per cent

of the total, par value of capital stock*

In the year ended June 30, 1939, the net profits of national banks before
dividends were $224,954,000, an increase of $16,531,000 in the amount reported
for the previous year*
The gross earnings from current operations aggregated $839,135,000 and
the expenses $576,744,000, resulting in net earnings from current operations of
$262,391,000, a decrease of $2,278,000 in the year*

Recoveries from assets

previously charged off of $211,923,000, including profits on securities sold
of $129,790,000, increased $50,181,000, and losses and depreciation charged off
of $249,360,000 increased $31,372,000»
Dividends declared on common and preferred stock totaled $137,798,000,
in comparison with $143,764,000 in 1938*

The dividends were 8*80 per cent of

common and preferred capital and 4*07 per cent of capital funds*

-

2

-

Six months ended
June 30, : Dec* 31*
1939
:
1938

Year ended
June 30, :June 30,
1939
: 1938

Capital stock, par value:
11.. .................. 1* 319. ¿30
TOTAL CAPITAL STOCK............... *X* 566,003
389,512

$2 5 7 ,4 3 7
1.317.658
1.575.095
3,328,144

$246,573 $266,095
1.319.430 1.311.326
1.566.003 1, 577.421
3,389,512 3, 273,819

Gross operating earnings:
Interest and discount on loans......
Interest and dividends on bonds and

18 8 ,3 6 6

188,783

377,149

3 7 7 ,0 7 6

Service charges on deposit accounts*•••

150,505
14,825
18 ,4 2 6
25,883
18,034

153,194
16 ,8 6 0
17,952
26,327
19,980

303,699
31,685
36,378
5 2 ,2 1 0
38,014

3 13 ,4 0 3
3 3 ,4 4 7
33,519
53,092
4 0 ,0 14

416,039

423,096

839,135

850,551

Other fi-xpenses. ................. ■•••••

49,5H
71,278
58,851
10 ,6 9 0
16,710
32,783

50,058
73,298
59,382
11,207
14,340
78 ,6 3 6

99,569
144,576
118,233
21,897
3 1,0 5 0
161,419

97,198
142,445
125,231
2 2 ,2 6 6
31,533
167,209

TOTAL GROSS OPERATING EXPENSES....

289,823

2 8 6 ,9 2 1

5 7 6 ,7 4 4

58 5,8 8 2

NET OPERATING EARNINGS.................

1 2 6 ,2 1 6

136,175

262,391

264,669

17,030
17,853
4,591

1 6 ,3 8 2
17,364
8,913

3 3 ,4 1 2
35,217
13,504

38,768
29,382
1 6 ,9 7 2

39,474

4 2,659

82,133

85,122

84,517

45,273

129,790

76 ,6 2 0

123,991

87,932

211,923

161,742

31,540
58,807

53,357
5 7 ,5 1 6

84,897
116,323

66,203
103,009

1 1 ,5 8 2
9,408

15,789
1 1 ,3 6 1

27,371
20,769

2 4 ,5 9 2
2 4 ,1 8 4

111,337

138,023

249,360

217,988

Other earnings....................... .
TOTAL GROSS OPERATING EARNINGS......
Gross operating expenses:
Salaries and wages—
Employees other than officers.....
Interest on time and savings deposits.

Recoveries:
fV> Vn-'.-nac and Qomiri M

p r .....

TOTAL RECOVERIES...................
TOTAL RECOVERIES AND PROFITS ON
SECURITIl S SOLD*••#»•»•••»•••••••••
Losses and depreciation:

On banking house, furniture and

TOTAL LOSSES AND DEPRECIATION.....

COMPARISON OF EARNINGS, EXPENSES AND DIVIDENDS OF NATIONAL BANKS FOR YEARS ENDED
JUNE 30, 1933 AND 1939
— ——
j

Year ended

Six months ended :

: June 30,: Dec* 31,: June 30,
1939
:
1939 •
193S :

:June 30,
: 1938

PROFITS BEFORE DIVIDENDS..... ......

138,870

86,084

224,954

208,423

Dividends declared:
On nrpfprrfid shock. ............. ......
On common stock................. ......
TOTAL DIVIDENDS DECLARED..... ......

4,191
66,025

8,468
129,330

9,766
133,998

70,216

4,277
63,305
67,582

137,798

143,764

TJrrmhpr* of* hirnks................... ......

5,209

5,230

5,209

net

MB

... .

-oOo-

5,248
- ..

PRESS RELEASE
The Acting Commissioner of Customs announced today that preliminary
reports from the collectors of customs shoe imports from Canada of
47,838 head of cattle «sighing 700 pounds or more each, other than dairy
corns, during the period July 1 to September 7, 1939*
Under the quota provisions of the trade agreement with Canada, the
number of head of cattle of this class mhich may be entered, or with­
drawn from warehouse, for consumption during the third quarter of the
current calendar year at the lowdr rate of 1^ cents per pound, provided
for therein, is limited to 51,720 head.

Imports of this class of cattle

in excess of the quota for this period would bo dutiable at the fu ll
rate of 3 cents per pound under the Tariff Act of 1930«
Since these reports show this ta r iff rate quota to be 93*5 percent
fille d as of September 7, 1939, the collectors of customs have been
instructed to collect estimated duties at the fu ll ta r iff rate of 3
cents per pound on imports of this class of cattle, effective September
1 1, 1939, pending fulfillment of the quota*

As soon as the quota status

of such imports can bo determined, the collectors of customs w ill be
advised as to the rates of duty applicable to particular importations,
and refund w ill be made of excessive duties deposited on importations
which are found to be within the quota limitation*
— ooOoo—

TREASURY DEPARTMENT
Washington

Press Service
No* 18-70

FOR IMMEDIATE RELEASE,
Saturday, September 9, 1939.

The Acting Commissioner of Customs announced today that preliminary
reports from the collectors of customs show imports from Canada of
47,83S head of cattle weighing 700 pounds or more each, other than dairy
cows, during the period July 1 to September 7, 1939.
Under the quota provisions of the trade agreement with Canada, the
number of head of cattle of this class which may be entered, or withdrawn from warehouse, for consumption during the third quarter of the
current calendar year at the lower rate of ij cents per pound, provided
for therein, is limited to 51,720 head.

Imports of this class of cattle

in excess of the quota for this period would be dutiable at the full
rate of 3 cents per pound under the Tariff Act of 1930.
Since these reports show this tariff rate quota ^o be 52.5 percent
filled as of September 7, 1939, the collectors of customs have been
instructed to collect estimated duties at the full tariff rate of
3 cents per pound on imports of this class of cattle, effective September
11, 1939, pending fulfillment of the quota.

As soon as the quota status

of such imports can be determined, the collectors of customs will be
advised as to the rates of duty applicable to particular importations,
and refund will be mad*.--Of excessive duties deposited on importations
which are found to be within the quota limitation*

•g O o *

TREASURY DEPARTMENT
W ASHINGTON
O FFICE O F

D IR E C T O R O F THE M INT
IN REPLYING QUOTE INITIALS

Nellie Tayloe Ross, Director of the M 4.n t ,, Washington.
Timothy J . Quirk, Chief Assayer of the Mint Service, Washington.
Daniel Daly, Superintendent, Melting and Refining Department,
U. S. Assay bffice, New York.
Bernard V. Matson, Assistant Superintendent, ^elting and Refining D
U. S. Assay Office, N ew York.
Edwin H. Dressel, Superintendent, U. S . Mint, .Philadelphia.
Hubert D. Coleman, Superintendent, Melting and R fining Dept.,
U. S. Mint, Philadelphia.
William T. Bartholomew, Superintendent, Coining Department,
U. S. Mint, Philadelphia.
John C. Wells, Superintendent, Coining Dept., U. S. Mint, Denver.
Elry J. Wagor, Superintendent, Melting and Refining Dept.,
U. S. Mint, Denver.
Arthur R. Oliver, Superintendent, Melting and Refining Dept.,
U. S. Mint, San Francisco.
Joseph C. Steel, Superintendent Coining Dept.,
U. S. Mint, San Francisco.

11, at U.S. Assay Office, New York.
'. S. Mint, Philadelphia,

TREASURY DEPARTMENT
W ASHINGTON

0
O FFICE OF

D IR E C T O R O F TME M INT

Sept. 9, 1939.

IN REPLYING QUOTE INITIALS

To keep abreast of developments in the field of metallurgy and
to discuss common problems of coinage, Mrs. Nellie Tayloe Ross, Director
of the Mint, has called a conference of metallurgists and coiners from
the various Mint field institutions.

The meeting will

at the United States Assay Office,
A PPi 1 ^ 1in TTniin~TTr,

"1 jil 1 win 1

*) 1 where the

discussion will be methods pertaining to the melting and refining
A
of gold, and kindred subjects.

Later in the week the group will

adjourn to the Philadelphia Mint to consider coinage problems and make first
hand obse rvations and demonstrations.
This is the first time in Mint history that a conference of coiners
and refiners has been called in this country, for such a purpose.
Mrs. Ross states that there now
of all denominations.

* ‘

'

demand for coins

This has necessitated placing the Philadelphia

Mint on a three-shift basis, and the Mints at Denver and San Francisco on
a two-shift basis.
She pointed out that in the first two months of the last fiscal
year, July and August, 193&, "the Mints, on the order of the Treasurer,
delivered 17,291,400 coins to the banks of the country, while in the
corresponding months of this year, the delivery has been

E.K.W.

1 4 4 ,623,435 pieces.

TREASURY DEPARTIRENT
Tfashington

FOR RELEASE, SUNDAY NEWSPAPERS,
September 10, 1939»__________ _
9/9/39

Press Service
no. 1Ö—71

To keep abreast of developments in the field of metallurgy and to
discuss common problems of coinage, Mrs• Nellie Tayloe Ross, Director of
the Mint, has called a conference of metallurgists and coiners from the
various Mint field institutions.

The meeting will start tomorrow (Sept. 11)

in New York at the United States Assay Office, where the discussion will be
on methods pertaining to the melting and refining of gold, and kindred sub­
jects.

Later in the week the group will adjourn to the Philadelphia Mint

to consider coinage problems and make first hand observations and
demonstrations•
This is the first time in Mint history that a conference of coiners
and refiners has been called in this country, for such a purpose.
Mrs. Ross states that there now exists an unusual demand for coins
of all denominations,

This has necessitated placing the Philadelphia Mint

on a three-shift basis, and the lints at Denver and San Francisco on
a two-shift basis.
She pointed out that in the first two months of the last fiscal
year, July .and August, 1938, the Mints, on the order of the Treasurer,
delivered 17,291,400 coins to the banks of the country, while in the
corresponding months of this year, the delivery has been 144,6^3,435
pieces

- 2

Those who will attend the meeting arei:
Nellie Tc',-3 oe Ross, Director ‘of the Hint, Washington*
Timothy J* Quirk, Chief Assayer of the lint Service, Washington.
Daniel Phly, Superintendent, Melting and Refining Department,
U* S. Assay Of.lice, New York.
Bernarl V* Matson, Assistant Superintendent, Melting and Refining
Department, J. S. Assay Office, New York.
Edwin H. Dressel, Superintendent, U* S. Hint, Philadelphia.
Hubert D. Coleman, Superintendent, Melting and Refining Department,
II. S. Mine, Philadelphia*
William T, Bartholomew, Superintendent, Coining Department,
TJ. S, H i nt, Philadelphia*
John C. Wells, Superintendent, Coining Department, U * S m Mint,
Denver.
Elry J. Wagor, Superintendent, Melting and Refining Department,
U. S. Mint, Denver.
Arthur R, Oliver, Superintendent, Melting and Refining Department,
U. S, Mint, San Francisco*
Joseph C. Steel, Superintendent, Coining Department, U, S. Mint,
San Francisco.

- 0O0-

a * «MM*«*? «f tte ImnrJT stette that te te«
tete tevtste te *te Matite •# M

i u m

of f M M M ef «te

M te«M te t e « » o f «te a r te te 9«ventatet t e « t e tte « te
• »rotte #f «atete«« «telarte te r m u u m ote te f r a «

twrtt«rtH « m m u .
•teto* t e m M l

«Imi l»«ntur «te* ttet te* tetto!

roeegte «ed te« w « i > « m t e « e t e U t e M

«tete teteUte tet« »tele«, u « «tolte Ito! U m M<!«rttt*
teUtotlii « M U M M I« iffMt.

1 1 1

i

TREASURY DEPARTMENT
Washington

FOR IIYEDIATE RELEASE,
Monday, September 11, 1939#

Press Service
po*

The Secretary of the Treasury stated that he had been advised
by the Minister of Finance of France of the emergency action of the
French Government in setting up a system of exchange control in France
and in French territories overseas.

The Secretary said that the

United States Government recognized the emergency conditions which
impelled this action, and stated that the Tri-Partite declaration
continues in effect.

•0O 0-

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OK RESTORED TO SOLVENCY DURING THE MONTH OF
— -------- -- AUGUST, 1939 - Continued:
___________

Name and Location of Bank?
City National Bank
Knoxville, Tennessee 1/
First National Bank
Hoquiam, Washington
First National Bank
Belington, W. Virginia
First National Bank
Darlington, Wisconsin
First National Bank
Marshfield, Wisconsin
First National Bank
Shullsburg, Wisconsin

Date of
Failure:

3-9-32

Total
Disbursements
Including
Offsets Allowed:

Per Cent
Total Dis­
bursements
to Total
Liabilities:

Per Cent
Dividend
Declared
to All
Claimants:

Capital
Stock at
Date of
Fail HTVa*

Cash, Assets
Uncollected J
Assessments,
Returned to 1

;
1 3,096,728.00

86.51$

18.793$ $1 ,000,000.00

1,392,191.00

7 4 .97 %

57.77%

300,000.00

000

10-13-31

279,373.00

7 4 .76%

69 .44%

40,000.00

000

6-25-34-

712,274.00

95.96%

9 4 .77 %

75,000.00

000

12-22-32

932,151.00

70.62$

57.77%

150,000.00

000

10-27-33

469,904.00

105.72$

108.1 $

50,000.00

000

11-6-31

1

000

1/ Receiver appointed to l e y and collect stock assessment covering deficiency in value of assets sold,
or to complete unfinished liquidation.
*

7j

N o regular paid in capital stock as in case of a bank.

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
____________________ AUGUST. 1 9 3 9 __________________

Name and Location of Banks

Date of
Failures

Arkansas N a t ’l Bank
Fayetteville, Arkansas 1/ 4.-16-34
Fidelity Bldg. & Loan Ass*n,*,
Washington, D. C.
7-13-36
First National Bank
La Grange, Illinois
3-2-34
First National Bank
Marseilles, Illinois
10-27-33
Livingston County NB
Pontiac, Illinois
1/
10-15-35
Knoxville-Citizens NB & Tr.Co.
Knoxville, Iowa
10-10-33
Bell National Bank
Pineville, Kentucky
1-28-32
Crystal Falls Nat*l Bank
Crystal Falls, Michigan
10-10-34
Mountains Nat*l Bank
Tannersville, New York
12-18-33
First National Bank
Mount Healthy, Ohio
6-25-34First National Bank
Bridgeville, Pennsylvania 9-20-34
First National Bank
Freeland, Pennsylvania
2-28-34
Mahaffey National Bank
Mahaffey, Pennsylvania
6-16-31
First National Bank

Belle Fourche, S. Dakota

11-6-31

Total
Disbursements
Including
Offsets Alloweds

Per Cent
Total Disbursements
to Total
Liabilitiess

Per Cent
Dividend
Declared
to All
Claimants s

86,582.00

98.72#

5 9 .8 #

4,451,740.00

86.76$

85.

598,290.00

106.01$

528,059.00

#

Capital
Stock at
Date of
Failures

$ 150,000.00

Cash, Assets
Uncollected i
Assessments,
Returned to i
holderss

$

000

2/

000

107.2 $

100,000.00

000

85.5156

76.18$

75,000.00

000

78,277.00

67.9 $

18.711$

50,000.00

000

1,238,688.00

79.2156

58.87#

100,000.00

000

386,053.00

7 3 .84#

75.88#

100,000.00

000

440,570.00

89.3956

87.84#

50 ,000.00

000

262,938.00

61.5 56

27.07#

50,000.00

000

1,105,046.00

97.17#

95.04#

75,000.00

000

679,153.00

85.53#

78.96#

50,000.00

000

2,060,413.00

96.19#

94.15#

150,000.00

000

366,677.00

78.41$

53.05#

50,000.00

000

485,557.00

69.76$

25,000.00

000

#

TREASURY DEPARTMENT

Comptroller of the Currency
Washington

FOR RELEASE, MORNING NEWSPAPERS,

Press Service
i^ 7 3

During the month of August, 1939, the liquidation of twenty
receiverships was completed and the affairs thereof finally closed.
This makes a total of 1,353 receiverships finally closed or re­
stored to solvency since the Banking Holiday of March, 1933*
Total disbursements, including offsets allowed, to deposi­
tors and other creditors of these 1,353 receiverships, exclusive
of the forty-two restored to solvency, aggregated $605,4-56,4-97.00,
or an average return of 81.18 per cent of total liabilities, while
unsecured creditors received dividends amounting to an average of
68.33 per cent of their claims.
Dividends distributed to creditors of all active receiverships
during the month of August, 1939, amounted to $1,4A-0,26A*00.

Total

dividends paid and distributions to depositors of all receiverships
from March 16, 1933, to August 31, 1939, amounted to 194-7,790,3A3.00.
Data as to results of liquidation of receiverships finally closed
during the month are as follows:

TREASURY DEPARTMENT
Comptroller of the Currency
Washington

FOR RELEASE, MORNING NEWSPAPERS
Tuesday, September 12, 3.939*

Press Service
18**73

During the month of August, 1939, the liquidation of twenty receiverships
was completed and the affairs thereof finally closed*

This makes a total of

1,353 receiverships finally closed or restored to solvency since the Banking
Holiday of March, 1933*
Total disbursements, including offsets allowed, to depositors and other
creditors of these 1,353 receiverships, exclusive of the forty-two restored
to solvency, aggregated *605,456,497*00, or an average return of 81*18 per
cent of total liabilities, while unsecured creditors received dividends amount­
ing to an average of 68*33 per cent of their claims*
Dividends distributed to creditors of all active receiverships during the
month of August, 1939, amounted to $>1,440,264*00*

Total dividends paid and

distributions to depositors of all receiverships from March 16, 1933, to August
31, 1939, amounted to $947,790,343*00.

Data as to results of liquidation of

receiverships finally closed during the month are as follows:

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY BURINS THE MONTH OF
__________________ AUGUST. 1 9 3 9 _________ __________

Name and Location of Bank:

Total
Dis hirsements
Date of Including
Faillite: Offsets Allowed:

Arkansas Nat'l Bank
Fayetteville, Arkansas 1/ *+-l6~3*+
n.,
Fidelity Bldg. & Loan A s s ’:
7-18-36
Washington, D. C.
First National Bank
3-2-3*+
La Grange, Illinois
First National Bank
Marseilles, Illinois
10-27-33
Livingston Ccrunty NB
Pontiac, Illinois 1/
10-15-35
Knoxville-Citizens NB & Tr .Co.
10 - 10-33
Knoxville, Iowa
Bell National Bank
Pineville, Kentucky
1-28-3 2
Crystal Falls N a t ’l Bank
Crystal Falls, Michigan l©- 10 - 3 *+
Mountains N a t ’l Bank
12-18-33
Tannersville, New York
First National Bank
6-25-3*+
Mount Healthy, Ohio
First National Bank
Bridgeville, Pennsylvania 9-20-3*+
First National Bank
Freeland, Pennsylvania
2-28-3U
Mahaffey National Bank
6- 16 -3 1
Mahaffey, Pennsylvania
First National Bank
Belle Fourche, S . Dakota 1 1 - 6 -3 1

$

Per Cent
Total Dis­
bursements
to Total
Liabilities :

Percent
Dividend
Declared
to All
Claimants:

Capital
Stock at
Date of
Failure:

Cash, Assets
Uncollected Stock
Assessments, etc.
Returned to share­
holders :

000

86 ,582.00

98.725i>

59.8 $

U,*i5 1 ,7 *+0.00

8 6 .76$

35.

598 ,290.00

10 6 .0 1$

1 0 7 .2 $

10 0 ,000.00

000

528,059.00

8 5 .5 1 $

7 6 .18$

7 5 ,000.00

000

7 8 ,277.00

6 7 .9 $

18.711$

9O,000.00

000

1 ,238 ,688.00

79.21$

58.87$

10 0 ,000.00

000

386 ,053.00

76.2*+$ .

75.88$

10 0 ,000.00

000

U*+o, 570.00

89*39$

8 7.8*+$

5 0 ,000.00

000

262 ,938.00

6 1 .5 $

27.07$

50 ,000.00

000

1 ,10 5 ,0*16.00

97.17$

95.0*+$

7 5 ,000.00

000

6 79 ,153.0 0

85-53$

78.96$

5 0 ,000.00

000

2 ,060 ,*113.00

96.19$

9 4 .15 $

1 5 0 ,000.00

000

366 ,677.00

7S.*+1$

5 3 .0 5 50

50 ,000.00

000

*125 ,557.00

6 9 .76$

5 1 .*+6 7 $

2 5 ,000.00

000 S

$

$ 1 5 0 ,000.00
21

$

000

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
AUGUST, 1939 - Co:ntinued

Name and Location of Bank:
City National Bank
Knoxville, Tennessee 1/
First National Bank
Hoquiam, Washington
First National Bank
Belington, W. Virginia
First National Bank
Darlington» Wisconsin
First National 3ank
Marshfield, Wisconsin
First National Bank
Shullsburg, Wisconsin

1/

Date of
TTni 1 nr*p.?

Total
Disbursements
Including
Offsets Allowed:

Per Cent
Total. Dis­
bursements
to Total
Liabilities:

Per Cent
Dividend
Declared
1 0 A11 ■
Claimants:

Capital
Stock at
Date of
Failure:

Cash, Assets
Uncollected !
Assessments,
Returned to
holders:

000

3-9-32

i! 3,096,722.00

So.51#

18.793$ $1 ,000,000.00 $

11-6-31

1 ,3 92,1 9 1 .0 0

7 4 .97$

57*77$

300,000.00

000

10-1 3 - 3 1

279,373.00

7U.76$

6 9 .LL$

L0 ,000.00

000

6- 25- 3L

7 1 2 ,27^.00

9 5 .96$

9U.77$

7 5 ,000.00

000

12 - 22-3 2

9 3 2 ,1 5 1 .0 0

70 .62$

57.77$

1 5 0 ,000.00

000

10-27-33

Lo9,90L .00

1 0 5 .72$

1 0 S. 1 $

50 ,000.00

000

Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold, or
to complete unfinished liquidation*

gj No regular paid in capital stock as in case of a "bank

f B M B W Z QEPARTfc£@3T
Washington
Press Service

FOE HSLftSS» MQSSOTS IS^SPAF^RS,

Tuesday, September \Zf 19S9#
»/¿/it
fbe secretary of the Treasury announced last evening that the

tenders for ¿100 ,000,000. or thereabouts, of

91-day

Tnutuvry bUXe, to be

dated September XS end to mature December 13. 1939, wbiah were o f f e r s on
September 8. were opened at the Federal Reearra banka on September 11.
The details of this Issue are as follows*
Totiff applied for
Total accepted

-

$340,813,000
100,107,000

Bangs of accepted bids:

High

low
Average price

-

99*980

- 99.985
ee 99.960

Equivalent rate approximately 0.079 percent
0.178
0.159

{69 percent of the amount bid for at the low price was accepted)

TREASURY DEPARTMENT
Washington
Press Service
No. 18-74

FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, September 12. 1939.
9/11/39. ‘

The Secretary of the Treasury announced last evening that the tenders
for $100,000,000, or thereabouts, of 91-day Treasury bills, to be dated
September 13 and to mature December 13* 1939, which were offered on September
8, were opened at the Federal Reserve banks on September 11«
The details of this issue are as follows:
Total applied for —
Total accepted
-

$340,813*000
100,107,000

Range of accepted bids:
High
Low
Average

price

99.980 Equivalent rate approximately 0.079 percent

- 99.955
- 99*960

"
"

"
n

”
n

°*178
0.159

w

(69 percent of the amount bid for at the low price was accepted)

Jan.l to Sept. 2,1939
FISH, FRESH OR
FROZEN, FILLETED,
E T C ., C o d , Haddock,
Hake, Pollock, Cusk,
Rosefish
(Pounds)

Sept. 15,1938 t© Sept. "2,1933
WHITE OR IRISH POTATOES
CERTIFIED *
SEED
OTHER

(Pounds)

'

(Pounds)

TOTAL IMPORTS
Percent of Quota

6,509,860
43.40$

59,758,730
66.40$

1,277,401
2.13#

COUNTRY OF EXPORT
Canada
Other Countries

6,509,860
-

59,758,730
-

1,102,855
174,546

835,603
182,450
355
49,089
24,000
2,250
328,304

•
48,960
79,680
8,134,439

5,599
42,000
5,817
120

CUSTOMS DISTRICT
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Indiana
Los Angeles
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Ohio
Philadelphia
Pittsburgh
Puerto Rico
Rochester
St. Lawrence
St. Louis
San Francisco
South Carolina
Vermont
Virginia
Washington
Wisconsin

-

536,819
2,521,362
62,101
-

187,933
242,780
76,481
53,950
569,513
743,099
3,000
-

46,585
-

28,074
16,112

-

5,390,345
242,278
1,591,012
459,080
33,972,702
842,047
-

23,870
36,356
—

487,338
117,060
8,312,788
20,775
-

-

100,098
55,680
43,063
68,065
-

48,430
235,237
553,654
18,145
4,693
96,800
-

(Prepared by Division of Statistics and Research, Bureau of Customs)

PRESS RELEASE
The Acting Commissioner of Customs announced today preliminary figures on imporli
of commodities under the quota provisions of the Canadian Trade Agreement, as of
September 2, 1939, and the percentage that such imports bear to the totals allowable
under the quota provisions, as follows:
CATTLE 700# OR MORE
~
January 1 to Sept. 2. 1939
(Other than Dairy Cows)
:
CATTLE
J u l y .1-Sept. 2
Jan. 1-Sept. 2 : UNDER 200# : WHOLE MILK : CREAM
1939
(Head)
1939
(Head)
(Head)
(Gallon)
:(Gallo]
TOTAL IMPORTS
Percent of Quota
COUNTRY OF EXPORT
Canada
Other Countries

51,585
-1/

43,900
7,685

175,744
-2/

99,052
99.05%

4,479
0.149%

129,915
45,829

68,614
30,438

4,479
-

1,16

0.0?(

CUSTOMS DISTRICT
Alaska
mm
..
366
Arizona
378
9,487
16,413
Buffalo
8,008
35,262
5,006
•
Chicago
585
940
Dakota
6,305
16,203
5,979
26
2,066
Duluth & Superior
■M
*
39
1
El Paso
5,221
28,549
12,829
Galveston
132
132
14
Los Angeles
253
7
Maine & N. H.
29
50
484
37
1,336
Maryland
..
187
«»
Massachusetts
17
17
2
Michigan
7,205
13,515
113
981
247
Minnesota
15,178
43,757
7,142
Montana & Idaho
204
1,065
66
New York
mm
1,895
3,679
34,746
—
_
Ohio
mm
312
—
Omaha
mm
1,520
—
—
Oregon
200
858
—
Philadelphia
104
—
Pittsburgh
111
_
_
Puerto Rico
St. Lawrence
962
994
10,464
354
_
_
St. Louis
974
974
San Antonio
618
5,214
1,131
_
San Diego
362
1,031
44
_
San Francisco
8
125
Vermont
65
944
372
110
Washington
3,247
11,111
2,799
1/ The 43,900 head imported from Canada represents 84.88% of the tariff rate quota
the third quarter of the calendar year. The 7,685 head imported from other countries
represents 92.81% of the tariff rate quota for the third quarter of the calendar year.
2/ The 175,744 head includes 170,836'head dutiable at the reduced rate under the trad
agreement and 4,908 head dutiable at the full tariff rate.

TREASURY DEPARTMENT

?uashington
Press Service
No. 18-75

for i m m e d i a t e r e l e a s e ,

Wednesday, September 13, 1939.

The Acting Commissioner of Customs announced today preliminary figures
on imports of commodities under the quota provisions of the Canadian Trade
Agreement, as of September 2, 1939, and the percentage that such imports bear
to :he totals allowable under the quota provisions, as follows
CATTLE 700# OR MORE
(Other than Dairy Cows)
July 1 - Sept,2 î Jan.l-Sept.2
1939

January 1 to Sept.2. 1939
Wild
CATTLE '
CREAM
MILK
UNDER 200#

TOTAL IMPORTS
Percent of Quota

51,585
- 1/

175,744
- 2/

99,0 52
9 9 .05$

4,479
0.149$

COUNTRY OF EXPORT
Canada
Other Countries

43,900
7,685

129,915
45,829

68,614

30,438

4,479
—

1 ,1 6 2
0 .077 $
580
582

CUSTOMS DISTIRCT
8
366
Alaska
1
6
,4
1
3
9,487
378
Arizona
—
5,006
35,262
8,008
Buffalo
—
940
585
Chicago
2,066
267
5 ,9 79
16,203
6,305
Dakota
—
_
1
39
Duluth & Superior
—
12,829
28,549
5
,2a
El Paso
\ —
—
14
I
32
I 32
Galveston
—
7
253
Los Angeles
37
1
,3
3
6
484
50
29
Maine & N. H.
—
—
187
Maryland
2
17
17
Massachusetts
981
247
113
13,515
7,205
.Michigan
—
7,142
43,757
15,178
Minnesota
66
4
1 ,0 6 5
Montana &_ Idaho
204
—
34
,74
6
3,679
New York
1,895
—
—
3
I
2
Ohio
—
—
1,520
Omaha
—
858
200
Oregon
—
—
—
104
Philadelphia
111
Pittsburgh
—
—
582
•
—
Puerto Rico
26
354
10,464
962
994
St. Lawrence
—
—
—
974
974
St. Louis
—
—
1,131
618
5,214
San Antonio
—
—
44
362
1,031
San Diego
8
San Francisco
110
125
944
372
65
Vermont
2,799
1.2A7
11.111
.-■Washington______
i/The A3,900 head imported from Canada represents o^.oo/, ux
—
or the third quarter of the calendar year. The 7 . 68 5 head imported from other count­
ries represents 92,81$ of the tariff rate quota for the 3rd quarter of the calendar
Sell*

2/ The 175,74-4- head, includes 170,838 head dutiable at the reduced rate under the
rade agreement and 4,908 head dutiable at the full tariff rate.

-

2

: Jan.l to Sept.2,1939
: FISH, FRESH OR
: FROZEN, FILLETED, '
: ETC,, Cod, Haddock,
: Hake, Pollock, Cusk,
:
Rosefish
i____ (Pounds)________
TOTAL IMPORTS
Percent of Quota
COUNTRY OF EXPORT
Canada
Other Countries
CUSTOMS DISTRICT
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Indiana
Los Angeles
Maine h N. H*
Maryland
Massachusetts
Michigan
Minnesota
Montana If Idaho
New York
Ohio
Philadelphia
Pittsburgh
Puerto Rico
Rochester
St. Lawrence
St. Louis
San Francisco
South Carolina
Vermont
Virginia
flashing ton
Wisconsin

6,509,860
_________43.40/%

s Sept.15,1938 to Sept.2,1939
: WHITE OR IRISH POTATOES
: CERTIFIED s
:
SEED
%
OTHER
s
:
°
•____

•

(Pounds)

59,758,730
1,277,4-01
66,40/°---------2.13A

6,509,860
_

59,758,730
-

835,603
182,450
355
49,089

48,960

-

8,134,439

2 4 ,0 0 0

—

'fß-.

2,250
328,304

«____ (Pounds),

1,102,855
174,54-6

5,599
4 2 ,0 0 0

—

79,680

5,817

—

120

5,390,345
242,278
1,591,012
459,080

100,098

-

—

187,933
242,780
76,481
53,950

33,972,702

48,430
235,237

-

536,819
2,521,362
62,101

-

569,513
743,099
3,000
—

46,585
-

28,074
16,112

— 0 O 0—

55,680
43,063
68,065

-

842,047
23,870
36,356
—

553,654

18,145

—
-

487,338
117,060
8,312,788
20,775
—

4,693

96,800

•PRESS RELEASE
The Acting 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 September 2, 1939; under the Cordage Act of 1935, during the period
May 1 to September 2, 1939; and the percentage that such imports bear to the
totals allowable under the quota provisions as follows:

Customs District

TOTAL IMPORTS
Percent of Quota
Chicago
Galveston
Georgia
Hawaii
Los Angeles
Maryland
Massachusetts
Mobile
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
San Francisco
Virginia
Washington

:

COCONUT OIL
(Pounds)
242,787,959
54.19$

1 to September 2, 1939
: REFINED
: UNREFINED
:
SUGAR
:
SUGAR
(Pounds)
•: (Pounds)
:
84,171,775
75.15$

-

-

-

-

-

46,555,621
130,518,668
-

4,283,538
44,797
7,858,155
1,056,840
920,372

1 ,458,648,499
81.40$

_

.

6,600
2,247,340
4,288,800
45,007,228

:
:
:
:

-

23,701,983
-

1,012,080
-

19,845,431
-

39,612,281

49,189,792
13,314,664
-

2,187,935
124,816,267
75,070,394
-

221,356,910
616,352,505
-

322,715
349,108,802
-

834,367
4,504,976
1,589,172

May 1 - Sept.
2, 1939
CORDAGE
(Pounds)
1,165,216
19.42$
41,044
45,479
46,906
187,636
32,829
2,283
7,897
263,336
8,274
229,825
275,259
24,448

(Prepared by Division of Statistics and Research, Bureau of Customs)

'TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Thursday, September 14, 1959«

Press Service
No*

The Acting 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 September 2, 1939; under the Cordage Act of 1935, during the period
May 1 to September 2, 1939; and the percentage that such imports bear to the
totals allowable under the quota provisions as follows:

Customs District

TOTAL IMPORTS
Percent of Quota

January 1 to September
: REFINED
COCONUT OIL :
SUGAR
(Pounds)
: (Pounds)
242,787,959
54.19%

84,171,775
75*15%

•*

tm
23,701,983
«.
—

00

o
CO
o
»
<M
(H

'
6,600
2,247,340
4,288,800
45,007*228
46,555,621
130,518,668
4,283,538
44,797
7,858,155
1,056,840
920,372

1 l

Chicago
Galveston
Georgia
Hawaii
Los Angeles
Maryland
Massachusetts
Mobile
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
San Francisco
Virginia
Washington

:
;
:
:

19,845,431
—
—
39,612,281

■oOo-

2, 1939
: UNREFINED
:
SUGAR
:
(Pounds)

:
:
:
:

1,458,648,499
_______ 81.40%
.*"
49;189;792
13,314,664
2,187,935
124,816,267
75,070,394
221,356,910
616,352,505
«
322,715
349,108,802
'834,367
4,504,976
1,589,172

1 ~ Sept*
2, 1939
CORDAGE
(Pounds)
1,165,216
19*42%
41,044
45,479
&
46,906
187,636
32,829
2,283
7,897
263,336
8,274
229,825
275,259
24,448

TREASURY DEPARTMENT
WASHINGTON

September 7 ,

commissioner of
A C C O U N T S A N D D E P O S IT S

TO MR. D U m S L D :

Baring the month of August, 1939, the following
market transactions took place in direct and guaran­
teed securities of the Government:
Purchases ............................. $3,297,000
S a le s ............ . ...................

1 ,2 0 0

Het purchases . . . . . . . . $3 *2 9 5 ,7 5 0

TREASURY DEPARTMENT
TiTashington
FOR IMMEDIATE RELEASE,
Friday, September 15. 1939«

Press Service
No. 18-77

Market transactions in Government securities for Treasury invest­
ment accounts in August, 1939, resulted in net purchases of $3,295*750,
Secretary Morgenthau announced today.

-oOo-

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Friday, September 15, 1939*

*

Press Service
No* 1&-78

Secretary Morgenthau today made public the following exchange of
correspondence:

September 15, 1939*

My dear Mr* Secretary:
In accordance with the several conversations which we have had
beginning last March, I am now submitting to you my resignation as
Technical Assistant*
I shall remember with the greatest pleasure the five years ^during
which I was privileged to work with you, and I leave that association with
real regret, I particularly appreciate your kindness in recognizing the
personal considerations which have induced me to return to private
employment*
If from time to time you wish to call on me in any way, I shall feel
honored to be of service to you.
Sincerely,

ARCHIE LOCHHEAD*

Honorable Henry Morgenthau, Jr,,
Secretary of the Treasury*

- 2 -

September 15, 1939*

•y dear Archie:
Although I have known for some months that you planned to leave the
Treasury about this time, I accept your resignation with sincere regret.
I am deeply grateful to you for the loyal and able service you have
rendered. In a field of Government activity which was uncharted when you
entered it, you have established a record which will be a challenge to
your successors. Your work has always been exacting and frequently has
been of critical importance* That you have handled it so splendidly
should be a source of pride to you. The Treasury has been fortunate to
have had a person of your resourcefulness and integrity in a position of
such responsibility, and I note with pleasure your offer to be of furthei
assistance to the Treasury at any time we may need to call on you.
I am sure that you know how much I personally have enjoyed our
relationship. May you find the greatest success and happiness in your
new work*
Sincerely,

H. MORGENTHAU, JR.
Secretary of the Treasury.

Mr. Archie Lochhead,
Technical Assistant
to the Secretary,
Treasury Department,
Washington, D. C.

-oOo-

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING'NEWSPAPERS,
Monday, September 18, 1939«
3/15/39.

Press Service
No. 13-79

To assist in the execution of the national defense program,
Secretary Morgenthau has developed a formula to facilitate operations
under Army or Navy contracts which are subject to the Vinson-Trammell
Act.

This Act limits contractors* profits on naval vessels to 10 per­

cent and on military and naval aircraft to 12 percent of the contract
pricej

the Bureau of Internal Revenue enforces-the limitation.
Secretary Morgenthau has informed the Secretary of War and

the Acting Secretary of the Navy of his willingness to negotiate
closing agreements, which are authorized by section 3760 of the
Internal Revenue Code, with contractors who must enlarge their facil­
ities in order to meet Army or Navy needs.

These closing agreements,

which would be binding on both the Treasury and the contractor, would
set forth, in advance of the completion of the contracts, the manner
in which the Bureau of Infernal Revenue is to treat the cost of any
special facilities in the computation of the contractor's profits
under the Vinson-Trammell Act.

Normally, in the absence of the closing

agreement procedure, the cost of new facilities may be amortized by
depreciation or obsolescence allowances determinable only upon completion
of the contract.
The Army or Navy will certify to the Treasury its opinion con­
cerning the proper percentage of cost to be allowed as a deduction.

When the Ariy or Navy certifies to the Treasury that installation of
special facilities by a contractor is necessary for the national defense
program and that, due to technical considerations, such facilities will
be partially or totally useless after completion of the contract, the
Treasury, at the time the contract is signed, will agree on the basis
of the facts in each particular case to allow a fixed percentage of
reasonable cost to be charged when the profits are computed under the
Vinson-Trammell Act*
The Treasury, War and Navy departments each has special com­
mittees to handle matters under the Vins on-Trammell Act;
committees meet jointly to consider common problems*

—

0O 0—

the three

TREASURY DEPARTMENT
Washington
FOR RELEASE,MORNING NEWSPAPERÏ
Tuesday, September 19, 1939*
9/18/39"

Press Service
No. 18-80

Commissioner of Customs Basil Harris today issued the following statement show­
ing imports of distilled liquors and wines, and duties collected thereon, cover­
ing the month of July, 1939, with comparative figures for the months of July,
1938, and June, 1939, and the first seven months of the calendar years 1938 and
1939, respectively:
7 Mos. (Jan .-July )
:
: July
: July
• June
1938
1939
: 1938
:
: 1939
z 1939
DISTILLED LIQUORS
(Proof Gallons)
Stock in Customs
Bonded Warehouses
3,709,510
at beginning...**. 4,137,878 4,122,943 3,493,666 4,214,134
Total Imports (Free
5,727,069
724,066 5,287,500
759,413
789,195
and Dutiable )•*o•
Available for Con9,436,579
sumption..»•*•••• 4,897,291 4,912,138 4,217,732 9,501,634
Entered into Con5,924,165
742,291 5,180,395
769,396
630,102
sumption (a).....
Stock in Customs
Bonded Warehouses
3,466,515
at end»...••••••* 4,265,314 4,137,878 3,466,515 4,265,314
STILL WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
1,430,547
at be ginning.••.• 1,151,292 1,101,341 1,320,709 1,12(L, 505
Total Imports (Free
1,297,613
133,443 1,747,322
237,157
256,275
and Dutiable)..«•
Available for Con­
2,728,160
sumption.
1,388,449 1,357,616 1,454,152 2,868,827
Entered into Con­
sumption (a)*«...
1,412,169
153,116
206,282
148,283 1,629,207
Stock in Customs
Bonded Warehouses
1,305,866
at end««»•••••••• 1,235,118 1,151,292 1,305,866 1,235,118
SPARKLING WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
271,133
257,942
294,136
321,014
306,297
at beginning»..».
Total Imports. (Free
172,125
255,417
50,320
and Dutiable)•»•♦
17,443
31,512
Available for Con443,258
311,579
513,359
356,617
352,526
sumption* *a«o«*»*
Entered into Con148,401
180,701
35,555
18,153
sumption (a)*..*.
20,249
Stock in Customs
Bonded Warehouses
,293,426
293,426
,332,253
1321,014
at end.••••.•*•««
_332,253
duties cot t e s t e d on

Distilled Liquors $1,555,592 |1,906,846 $1,822^574 |12;839,457 |14;607,297
125,800 1,419,244
'1,227,513
Still "Wines
126,391
170,454
53, 814
>540,305______ -457,892
60, 381___ -105,966
Sparkling^ Wines •«•

J e c t e d ^ n fiq S o r T a| l , 742,564 |2,185,266 $2,002,188fOA,799,004
Taj Including withdrawals for ship supplies and diplomatic use*

|16,272,702

• r m m m w

w

Washington

wm mmmstwmsm

«
1» ,
Tuesday. September 19f 1939#

1/31759

Pr®as SerTiee

“~"

Tbe secretary of the Treasury announced last evening that the
tenders for #100,000,000, or thereabouts, of 91-day Treasury bills, to be
dated September 20 and to mature Deeecsber 20, 1939, which were offered oa
September 15, weie opened at the Federal Reserve banks on Sep tester 18.
Tbs details of this issue are as follows:
Total applied for
Total accepted

-

#480,166,000
100,046,00©

Bangs of accepted bids:
Hi#

1*
Average price

99.980
«. 99 «966
- 99.968

•

Equivalent rate approximately 0.079 percent

•
•

*

*
-

0.155
O.m

(72 percent of the amount bid for at the low price was accepted)

*

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, September 19, 1959»_____

Press Service
pT°*

9718/39
The Secretary of the Treasury announced last evening that the tenders
for |100,000,000, or thereabouts, of 91-day Treasury bills, to be dated
September 20 and to mature December 20, 1939, -which were offered on September
15, were opened at the Federal Reserve banks on September 18*
The details of this issue are as follows:
Total applied for
Total accepted

-

$>■480,166^000
100,046,000

Range of accepted bids:
ifteh
Low

Average price

-

99*980
99*966
99*968

Equivalent rate approximately
"
"

H
"

"
"

0*079
0.135
0.125

percent
"

(72 percent of the amount bid for at the low price was accepted)

- 0O 0'

CX *"Wve

e men

ISRwEiaeBieiats for the ^urohase of

other essentials

&

the needs of Industry for the manufacture of supplies for the armed
forces and the civilian population in time of national emergency, *
and required quantities
are to follow as soon as specifioations/are determined by a board
set up under the aete

determine which materials are strategic and c ritic a l* They are aided by
the Secretaries of State,Treasury and Commerce*
.

Bids for the purchase of the manganese ore w ill be opened

Acting -under the provisions of the Nstrategic
and critical materials act" of the 76th Congress, the Procjcrement
Division of the Treasury Department today advertised for bids on
various types of manganese ore* The Division asked for hi&sxvx
fl*C7iM*i»xedv*txsEV«nAiqpr«4*t* bidders to submit prices on ragyfreg
(punaJLiMaszpj^giC7xaaging7frgi«xSig6Q6xtav^rO^A3MMgvlujrn: ore deliveries
(2>C»JIUS^P

----- ;----

pfAts and also asked for prices on varying
tities
point*

she

quan­

(ranging from 5,000 to 40,000 long tins) at each delivery

Therefore, the total amount to he purchased can not he deter­

mined until the Division has heen able to irhtiExthenmsviEvadxBatagsvav
jurlee»juia vidUE ascertain iddsk what quantities can he purchased at each
delivery point at the most advantageous price**

X t.

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, September
1939.
9AS/39

Press Service
No. 1S-82

Acting under the provisions of the "strategic and critical materials
act" of the 76th Congress, the Procurement Division of the Treasury Department
t
today advertised for bids on various types of manganese ore. The Division
asked

bidders to submit prices on ore deliveries at Baltimore ports and

also asked for prices on varying quantities (ranging from 5*000 to 4-0,000
long tons) at each delivery point.

Therefore, the total amount to be pur­

chased can not be determined until the Division has been able to ascertain
what quantities can be purchased at each delivery point at the most
advantageous price*
The manganese offered on these bids must be from new importations
or from domestic mines and must not be drawn from stocks now in warehouses,
thus assuring a net addition to the nation’s available supply.
Bids for the purchase of the manganese ore will be opened in
Washington on October 19, 1939.
Advertisements for the purchase of other essentials to "the needs
of industry for the manufacture of supplies for the armed forces and the
civilian population in time of national emergency," are to follow as soon
as specifications and required quantities are determined by a board set
up under the act.
Materials acquired under this Act except for rotation to prevent
deterioration shall be used only upon the order of the President m

time

of war, or when he shall find that a national emergency exists with respect
to national defense as a consequence of the threat of vrar.

/

a

-

2

-

A board consisting of the Secretary of War, Secretary of the Navy,
and the Secretary of Interior, acting jointly through the agency of the
Army and Navy Munitions Board, is authorized under the law to determine
which materials are strategic and critical.
Secretaries of State, Treasury and Commerce.

—o0o<

They are aided by the

If-S

3

PRESS RELEASE

The Commissioner of Customs announced today that preliminary reports
from the collectors of customs show that entries for consumption and with«*
drawals from bonded pastures for consumption have been accepted covering
cattle subject to the quota provisions of the Canadian Trade Agreement, as
follows:
Period
:
:
Covered_____ :_____Class of Cattle______ : Head

:
Percent of
: Tariff Rate Quota

July 1 to Sept.
9, 1939

Cattle weighing 700 pounds
or more each, other than
dairy cows, from Canada

50,078

96.83% of quota
for third quarter
of calendar year

July 1 to Sept.
9, 1939

Cattle weighing 700 pounds
or more each, other than
dairy cows, from other
countries

7,707

93.08% of quota
for third quarter
of calendar year

Jan. 1 to Sept.
9, 1939

Cattle weighing less
than 200 pounds each

99,896

99.90% of quota
for calendar year

TREASURY DEPARTMENT
Washington
FOR I M E D I A T E RELEASE,
Tuesday, September 19« 1939»

Press Release
No, 18-83

The Commissioner of Customs announced today that preliminary reports
from the collectors of customs show that entries for consumption and with­
drawals from bonded pastures for consumption have been accepted covering
cattle subject to the quota provisions of the Canadian Trade Agreement, as
follows %

Period
Covered

:

Class of Cattle

:

Head

;
Percent of
: Tariff Rate Quota

July 1 to Sept.
9, 1939.

Cattle weighing 700 pounds
or more each, other than
dairy cows, from Canada

50,078

96*83/6 of quota
for third quarter
of calendar year

July 1 to Sept,
9 j 1939.

Cattle weighing 700 pounds
or more each, other than
dairy cows, from other
countries

7,707

93*08$ of quota
for third quarter
of calendar year

Jan, 1 to Sept.
9, 1939.

Cattle weighing less than
200 pounds each

99,896

99.90$ of quota
for calendar year

— oOo—

The Procurement Division of the Treasury Department today
rflromfrejkitiijig«

advertise for bids

on tungsten ore and chromium ore under the provisions of the ^strategic
and c ritic a l materials act^
tungsten
The Division will ask bidders to submit prices on/ore deliveries
at the U* S* Army General Depot, Columbus, Ohio, and for chromium ore
deliveries at the U. S. Army General Depot, New Cumberland, Pennsyl­
vania, or the U» S* Army Ordnance Depot, Ogden, Utah»

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Wednesday, September 20, 1939*

Press Service
No, 18-84

The Procurement Division of the Treasury Department today advertised
for bids on tungsten ore and chromium ore under the provisions of the
strategic and critical materials act.
The Division -will ask bidders to submit prices on tungsten ore
deliveries at the United States Army General Depot, Columbus, Ohio, and
for chromium ore deliveries at the United States Army General Depot, New
Cumberland, Pennsylvania, or the United States Army Ordnance Depot, Ogden,
Utah*

Bidders are asked to submit prices on varying quantities between

2,000 and 6,000 tons for delivery at each army depot*

Ore offered on these

contracts must be new importations or materials available from domestic
mines and not warehouses.

•oOo—

tbsasuht

wPAimoaiT

«àSHiiicmM
tm m s A S s , » t i » n s w s p a p i s b s ,
Tueaday*
September 24,
1939.
***«t<H«*9**NI»—•—
****Â^*Ni||»«ÉIW<MWW«^9»*e**Â**lÉI**<*

b

^

h

s

m

i

9/E5/39

The Secretary of the Treasury announced last evening that the ten­
ders for #100,000,000, or thereabouts, of 91-day Treasury b ills , to be dated
September 27 and to mature December 27, 1939, uhIch nere offered on Septem­
ber 22, «ere opened at the Federal Reserve banks on September 23«
The details o f this issue are as felloess
Total applied for
Total accepted

-

#548,OH,000
100,724,000

Bang» o f aecepbsd bides
Sigjh
Lev
Average price

«
-

99« 989 äquivalent rate approximately 0*044 percent
99*978
♦
*
*
0.087
«
99*979
*»
0*082

m m

TREASURY DEPARTMENT
Washington
press Service
No. 18-85

FOR RELEASE, MORNING NEWSPAPERS
Tuesday« September 26, 1939«
9/25/39.

The Secretary of the Treasury announced last evening that the tenders
for (>100,000,000, or thereabouts, of 91-day Treasury bills, to be dated
September 27 and to mature December 27, 1939, which were offered on September
22, were opened at the Federal Reserve banks on September 25#
The details of this issue are as follows:
Total applied for
Total accepted

—

0548,014,000
100,726,000

Range of accepted bids:
High
Low
Average price

99*989
99*978
99.979

Equivalent rate approximately 0.044 percent
”
11
M
0.087
"
,T
11
0*082
n

TREASURY DEPARTMENT
Washington

FOR RELEASE, AFTERNOON' NEWSPAPERS

Thursday, September 21, 1939*

Press Service
N o • 18-86

9/20/39
Secretary Morgenthau today announced the designation of fourteen Treasury

Agents and two Coast Guard commanders as co-ordinators of the Department *s
enforcement activities in their respective districts*
The new co-ordinators will report to Chief Treasury Agent Elmer Lincoln
Irey and will serve for the next four months, relieving Coast Guard officers
■whose duties have been increased by enforcement responsibilities under the
President*s neutrality proclamations*
Notification to the individuals by Assistant Secretary Herbert E* Gaston
of the change in co-ordinatorship provided for rotation of the posts among
supervising Treasury Agents in each district, beginning January 31, 1940*
The new duties, he pointed out, will be in addition to the present assignments
of each officer*
Co-ordinators and assistant co-ordinators by Treasury districts are as
follows :
Treasury District No* 1 (New England States, with headquarters
at Boston) - Co-ordinator, District Supervisor Sidney Sherwood of the
Alcohol Tax Unit; assistant co-ordinator, Special Agent in Charge
Clifton E* Mack of the Intelligence Unit*
Treasury Districts No* 2 and No* 4 (New York, New Jersey and
Delaware, with headquarters' in New York City and Newark) - Co-ordinator,
Special Agent in Charge Hugh McQuillan of the Intelligence Unit;
assistant co-ordinator, Supervising Agent Garland Williams of the
Bureau of Narcotics*
Treasury District No* 3 (Pennsylvania, with headquarters at
Philadelphia) - Co-ordinator, District Supervisor E* C* Dougherty of
the Alcohol Tax Unit; assistant co-ordinator, Special Agent in Change
Arthur Nichols of the Intelligence Unit*
Treasury District No* 5 (Maryland, District of Columbia, Virginia,
West Virginia and North Carolina, rath headquarters at Baltimore) Co­
ordinator, Supervising Customs Agent F* R* Proctor; assistant co-ordinator,
Supervising Agent Harry Cooper of the Secret Service*

2 -

Treasury District No# 6 (South Carolina, Georgia, Alabama and
Florida, -with headquarters at Atlanta) - Co-ordinator, Special Agent
in Charge E# C# Palmer of the Intelligence Unit; assistant co-ordinator,
Supervising Customs Agent E# A. Gleason#
Treasury District No# 7 (Kentucky and Tennessee, with headquarters
at Louisville) - Co-ordinator, Supervising Agent G# Vi# Cunningham of
the Bureau of Narcotics; assistant co-ordinator, District Supervisor
H# B. Taylor of the Alcohol Tax Unit#
Treasury District No# 8 ( Michigan and Ohio, with headquarters at
Detroit) - Co-ordinator, Supervising Agent George F# Boos of the Secret
Service; assistant co-ordinator, Supervising Customs Agent C# E# Wyatt#
Treasury District No# 9 (Illinois,'Indiana and Wisconsin, with
headquarters at Chicago) - Co-ordinator, Special Agent in Charge Arthur
P# Madden of the Intelligence Unit; assistant co-ordinator, Supervising
Agent T# J# Callaghan of the Secret Service#
Treasury District No# 10 (Texas, Louisiana and Mississippi, with
headquarters at Houston) - Co-ordinator, Supervising Agent F# V# Sorrells
of the Secret Service; assistant co-ordinator, Supervising Agent Joseph
Bell of the Bureau of Narcotics#
Treasury District No# 11 ( Missouri, Kansas, ^Arkansas, and Oklahoma,
with headquarters at Kansas City) - Co-ordinator, Supervi.sing Agent J# B#
Greeson of the Bureau of Narcotics; assistant co-ordinator, District
Supervisor J# T# Burkett of the Alcohol Tax Unit*
Treasury District No# 12 (Minnesota, Iowa, North Dakota, South
Dakota and Nebraska, with headquarters at St# Paul) - Co-ordinator,
District Supervisor L# B# Connell of the Alcohol Tax Unit; assistant
co-ordinator, Special Agent in Charge John Glutsch of the Intelligence
Unit#
Treasury District No* 13 (Wyoming, Utah, Colorado, Arizona, and New
Mexico, with headquarters at Denver) - Co-ordinator, Supervising Agent
R# K# Goddard of the Secret Service; assistant co-ordinator, District
Supervisor A# V# Anderson of the Axleoho 1 Tax Unit#
Treasury District No* 14 (California and Nevada, with headquarters
at San Francisco) - Co-ordinator, Special Agent in Charge Ralph R* Read
of the Intelligence Unit; assistant co-ordinator, Supervising Agent
Thomas B# Foster of the Secret Service#
Treasury District No# 15 (Washington, Oregon, Idaho and Montana, with
headquarters at Seattle) - Co-ordinator, Supervising Customs Agent JosOph
L# Green; assistant co-ordinator, District Supervisor W# R# Woods, Jr#,
of the Alcohol Tax Unit#
Territory of Hawaii - Co-ordinator, Commander G# F# Finley, United
States Coast Guard*
Puerto Rico and the Virgin Islands - Co-ordinator, Commander W* F#
Towle, United States Coast Guard#

In thanking Rear Admiral R. R. Waesche, Coast Guard commandant, for the
services of his officers since Secretary Morgenthau first co-ordinated Treasury
Department enforcement in 1951, Assistant Secretary Gaston wrote that

this

adjustment of field co-ordination direction was made advisable by the changed
conditions now existing«”
The Secretary, he said, "desires that you extend for him to the various
Coast Guard District Commanders who have been serving as Co-ordinators, his
appreciation of the valuable services they have rendered, and express to them
his wish that they continue to co-operate as fully in Treasury law enforcement
work as they have so ably done in the past*"

- 0O 0

IMMEDIATS

The Procurement Division of the Treasury Department today
advertised for "bids on manila fiber (abaca) under the provisions
of the strategic and c ritic a l materials act*
The Division asked bidders to submit prices on~8fe fiber to
be shipped from the Philippine Islands for delivery at the U. S*
Army Supply Base. South Boston, Massachusetts* Prices were asked
Cej gb varying grades ,J
on quantities ranging from 500 to 7,000 bales^, an i the biddersin were
to be
■ w requested to indicate whether the material srf£laia& offered is
of domestic or foreign origin*

TREASURY DEPARTAIENT
Washington

FOR I!TIEDIATE RELEASE,
Thursday5 September 23., 1939.

Press Service
No. 18— 87

The Procurement Division of the Treasury Department today
advertised for bids on manila fiber (abaca) under the provisions of the
strategic and critical materials act.
The Division asked bidders to submit prices on fiber to be shipped
from the Philippine Islands for delivery at the U. S, Army Supply Base,
South Boston, Massachusetts.
from

500

Prices were asked on quantities ranging

to 7,000 bales of varying grades, and the bidders were requested

to indicate whether the material to be offered is of domestic or foreign
origin.

-oOo—

ADDRESSTHECOMMANDANT.U.S.COASTGUARD
ANDREFERTONO. P*“74

TREASURY DEPARTMENT
JT90,

UNITED STATES COAST GUARD

HEADQUARTERS

nae-

a*»**0
m o ra n d u m f o r public r e l a t i o n s :

Lngcadets have been appointed to the United States
>ast Guard Acadf*rmr
ring..AT.
v Lewis W. Tibbits, Jr.
^ Hugh F. Lusk,
/ I 162 Homochitto Street,
^ ,653 Washington
(0
Quincy, Mass.
Natchez, Ms s .

William P.
an,
William
P. Thom
Thoman,
Y,

\ 115 Corlies Avenue,

7 ' Pelham, New York.

1 --

John W. Sutherland,
/¿for 1135 East 8th Street,
1 i1 Tucson, Arizona.

Stanton D. Smith,
1204 West G r e
Urbana, Illinois.

Bainbridge rs.
B. Leian^
Lelanci y \ uonn
John h.
L. naney,
Haney,
uamonage
153 Flower Avenue West, 619 SpruceQt.
Watertown, New York.
Morgantown, W. Va
/^Urial H. Leach, Jr.

* Robert E. E ^ s o n

/X ^ 3 3 7 42nd Street,
'/404 Alta fifve.
J Newport News, Virginia Santa Monica, Cali

a Harry E. Lawrence, Jr. Charles Dorian
? 'Cazenovia, New York.
2 Oakland §t.
\ ^Natick, Mass.
Richard W. Jungck,
.NT
Herbert F. Smith,
l / V^2625 N.E. 20th Avenue;/ »avid E. Bay,
40 Blossom Street,
? Portland, Oregon
(/Twin Falls, Idab
E. Dedham, Massachusetts.
^
a
\/ Robert B. Johnson,
y\Robert P. Cunning!]
Charles M. Shepard III., ^ 5 East State Street,
17 Appleton(.St.;
56 ‘South Catherine Street, Gloversville, New York. Saugus, Mass.
Mobile, Alabama.
\/
y\ Joseph L. Butt^
v Charles E. Johnson, ' lö Ellerton Road,'
Billy R. i^ran,
/^TV1743 West Monroe Street, Quincy, Mass.
Box 423}
l J Phoenix, Arizona.
Arcadia, Florida. ^
\^y
c— ^
\,r
Ross A. Butlerl
Wells F. Impson, |/\ y^l95 HuntingtontSt
/ t s Jeriy K» Rea,
^ ^ 2532 Royal Court*
New London, Conn.
Box 12Ì2,
^
Seattle, Washington.
Sardis, Miss.
Cleveland C. Barrj
Samuel L. Fuller,
v \ 95I 14 th (Sjx>
Charles P. Olson,
f<h H 106 Fairmount Street,^ Santa Monica, Call
5347 Sumner Avenue,
Lowell, Massachusetts*
Eagle Rock, California.
Harvey Niell Avile
I 64 Canal/St^y
Sherman Frick, u
Reino K. Niskanen,
Stapleton7~ST I
Route 1, Box 40-A,
USS ALTAIR,
Church Street,
San Diego, California.^.
Mountain View, California.
John S. MacNaughton,
x
Arthur A. Atkinsoz
2525 Potomac Avenue, N. E.y Douis L.^Hibbs^^^V
20 Hilltop Avenue
428j Isabella @ 3) \
Lexington, Mass.
Atlanta, Georgia.
Robert A * W *
^
Donald Boyd Anderson^-— v M o u x City, Iowa. / ,
48 Fai rfieldCAi
Hill^Stj^
_J>5 Wellington
____ w
Mattaoan, Mass,
Hartford. Conn.
e

.
n
^

John K. Hanninen
À
R.F.D. 4>
Manchester, N. H,

cadets are being appointed to the United States Coast Guard
Academy in the class of 1943, to report art ’fflBC3P8SB*e<
^not
later than September 2

5

l^OSk

These appointments were

^Coj*) Y&TX'H

made from among those who successfully passed, the i
examination held throughout the nation on June 14*

(List of names attached)

^

u,*v.

TREASURY DEPARTMENT
Washington
POR RELEASE, AFTERNOON NEWSPAPERS
Friday, September 22, 1939
9/21/39

Press Service
No* 18-88

Rear Admiral R* R* Waesohe, Commandant of the United States Coast Guard,
today announced that thirty-fi ve additional cadets are being appointed to the
United States qoast Guard Academy in the class of 1943, to report at New London
Conn*, not later than September 25.

These appointments were made from among

those who successfully passed the competitive examination held throughout the
nation on June 14*
ALABAMA
Charles M* Shepard III.,
56 South Catherine Street,
Mobile

CONNECTICUT
Robert A. Adams,
48 Fairfield Avenue,
Hartford

ARIZONA
Charles” E* Johnson,
1743 West Monroe Street,
Phoenix

Ross A* Butler,
195 Huntington Street,
New London

John W* Sutherland,
1135 East 8th Street,
Tucson

FLORIDA
Billy R* Ryan,
Box 423,
Arcadia

CALIFORNIA
Cleveland C* Barry,
951 14th Street,
Santa Monica

GEORGIA
John S. MacNaughton,
2525 Potomac Avenue,N*E*,
Atlanta

Robert E* Emerson,
404 Alta Avenue,
Santa Monica

IDAHO
David E » Day,
Twin Falls,

Sherman 'Fri ck,
Route 1, Box 40-A,
Church Street,
Mountain View

ILLINOIS
Stanton D. Smith,
1204 'West Green Street,
Urb ana

Reino K* Niskanen,
USS ALTAIR,
San Diego

IOWA
Louis L* Hibbs,
428l|- Isabella Street,
Sioux City

Charles P* Olson,
5347 Sumner Avenue,
Eagle Rock

MASSACHUSETTS
Donald Boyd Anderson,
105 Wellington Hill Street,
Mattapan

- 2 -

MASSACHUSETTS
Arthur A« Atkinson, Jr«,
20 Hilltop Alvenue,
Lexington

NEW HAMPSHIRE
John K« Hanninen,
R«F«D# 4,
Manchester

Joseph L« Butt,
18 Ellerton Road,
Quincy

NEW YORK
Harvey hiell Aviles,
164 Canal'Street,
Stapleton, Staten Island

Robert P* Cunningham,
17 Appleton Street,
Saugus

Robert B« Johnson,
5 East State Street,
Glover svi lie

Charles Dorian
2 Oakland Street,
Natick

Harry E« Lawrence, Jr«
Cazenovia

Samuel L* Fuller,
106 Fairmount Street,
Lowell

Baiabridge B« Leland,
153 Flower Avenue West,
Watertown

Hugh F« Lusk,
653 Washington Street,
Quincy

William P« Thoman,
115 Corlies Avenue,
Pelham

Herbert F» Smith,
40 Blossom Street,
East Dedham

OREGON
Richard W« Jungck,
2625 N« E* 20th Avenue,
Portland

MISSISSIPPI '
Jerry K«'&ea,
Box 1212,
Sardis

VIRGINIA
Urial H« Leach, Jr«,
337 42nd Street,
Newport News

Lewis W* Tibbits, Jr«,
162 Homoohitto Street,
Natchez

WASHINGTON
Wells F« Impson
2532 Royal Court,
Seattle
WEST VIRGINIA'
John "L* Haney,
619 Spruce Street,
Morgantown

-0O0-

j Capt. Harold D# King former Commissioner of Lighthouses of the Department
of Commerce^,and. since the consolidation of the lighthouse Service with the
United States Coast rum il

.... — drin» i« ii 1Tf* on Julv 1. Assistant t o « M M H N &

status under the provisions of the Act of August 10, 1939, relating to employees
of the former Lighthouse Service having thirty years or more service#

xii iii» »Mi> litrrtr As"'Deputy Commissioner#
in 1902^-^ h

h p

He first entered the Government service

I with the Coast and Geodetic Survey#

In 1911 he entered the

Lighthouse Service, and from that time until his transfer to mshingfcon as
Deputy Commissioner m s

in charge of three important lighthouse districts,

I

including a long tour of duty in the fifth district, the headquarters of w hich
were then in Baltimore.
By designation of the President, OapHmin1Kiiag -represented the United States
at a meeting of an international committee at Genoa in 1929 for the consideration I
of a

uniform system of buoyage and lighting of the coasts of the world.
Captain King was tendered a luncheon at the Department of Commerce today

by his former official family and associates in the Department of Commerce.
Speakers at this luncheon included Admiral L# C. Co veil, United States Coast
Guardi Admiral H# F# Johnson, United States Coast Guard/ Col# J# Monroe Johnson,
Assistant Secretary of Commerce/ Malcolm L# Kerlin, Administrative Assistant
to the Secretary of Commerce, and Judge Miller C# Foster, Assistant to Col. Johnson^

.¿ft ^li'wDtpaeteniant of

TREASURY DEPARTMENT
United States Coast Guard
Washington
Press Service
No# 18-89

FOR IMMEDIATE RELEASE
Friday, September 22, 1939.

Capt# Harold D# King, former Commissioner of Lighthouses of the Department
of Commerce and, since the consolidation of the Lighthouse Service with the
United States Coast Guard on July 1, Assistant to the Commandant of the latter
Service, today retired- from active duty#

He m i l assume an inactive status

under the provisions of the Act of August 10, 1939, relating to employees of
the former Lighthouse Service having thirty years or more service#
Capt# King "was appointed Commissioner of Lighthouses in 1935 after having
served for several years as Deputy Commissioner#

He first entered the Govern­

ment service in 1902 with the Coast and Geodetic Survey#

In 1911 he entered

the Lighthouse Service, and from that time until his transfer to Washington
as Deputy Commissioner was in charge of three important lighthouse districts,
including a long tour of duty in the fifth district, the headquarters of which
were then in Baltimore#
By designation of the President, the lighthouse commissioner represented
the United States at a meeting of an international committee at Genoa in 1929
for the consideration of a uniform system of buoyage and lighting of the coasts
of the world.
Capt# King m s tendered a luncheon at the' Department of Commerce today
by his former official family and associates in the Department of Commerce#
Speakers at this luncheon included Admiral L# C. Coveil, United States Coast
Guardj Admiral II# F. Johnson, United States Coast Guard; Colonel J* Monroe
Johnson, Assistant Secretary of Commerce; Malcolm L# Kerlin, Administrative
Assistant to the Secretary of Commerce, and Judge Miller C# Foster, Assistant
to Colonel Johnson#
-oOo-

The Bureau of Customs announced today that preliminary reports
from the collectors of customs shov that entries for consumption and
withdrawals from bonded pastures for consumption of cattle weighing
700 pounds or more each, other than dairy cows, have been accepted cover­
ing 50,898 head from Canada during the period July 1 to September 16,
1939, and 7,726 head from other countries during this period.
This total from Canada represents 98.4 percent and that from other
countries 93.3 percent of the tariff rate quotas on imports of this class
of cattle for the third quarter of the current calendar year, provided
for in the trade agreement with Canada.
These preliminary reports also show that the tariff rate quota
provided for in this trade agreement, which limits the number of head of
cattle weighing less than 200 pounds each which may be imported at the
reduced rate provided for therein to 100,000 head during the calendar year,
was filled during the week ended September 16, 1939.

-oOo-

TREASURY DEPARTMENT
Washington

Press Service
No* 18-90

FOR IMMEDIATE RELEASE'
Tuesday, September 26, 1939.

The Bureau of Customs announced today that preliminary reports from the
collectors of customs show that entries for consumption and withdrawals from
bonded pastures for consumption of cattle weighing 700 pounds or more each,
other than dairy cows, have been accepted covering 50,898 head from Canada
during the period July 1 to September 16, 1939,, and 7,726 head from other
countries during this period*
This total from Canada represents 98#4 percent and that from other countries
93*3 percent of the tariff rate quotas on imports of this class of cattle for
the third quarter of the current calendar year, provided for in the trade agree­
ment with Canada*
These preliminary reports also show that the tariff rate quota provided
for in this trade agreement, which limits the number of head of cattle weighing
less than 200 pounds each which may be imported at the reduced rate provided
for therein to 100,000 head during the calendar year, was filled during the week
ended September 16, 1939*

-oOo*-»

&

COTTON CARD STRIPS, COMBER WASTE, LAP WASTE, SLIVER WASTE, AND ROVING WASTE,
WHETHER OR NOT MANUFACTURED OR OTHERWISE ADVANCED IN VALUE. Annual quotas
commencing September SO, by countries of origin:
Total quota, provided, however, that not more than 39*1/3 percent of the
quotas shall be filled by cotton wastes other than card strips and cosher
wastes node from cottons of 1*3/16 inches or nore in staple length in the
case of the following countries: united Kingdom, France, Netherlands,
Switzerland, Belgium, Germany and Italy:

Country of
Origin

(In Pounds)
* Established TOTAL IMPORTS : Established
: 33-1/3# of
: TOTAL QUOTA Sept* 20 to
: Total Quota
23. 1999
♦

United Kingdom
Canada
France
British India
Netherlands
Switzerland
Belgium
Japan
China
Egypt
Cuba
Germany
Italy i

4,923,457
296,690
227,420
69,627
68,240
44,988
98,559
341,595
17,322
6,135
6,544
76,929
21,263

2,10?
•
7,954
•
•
•
•
•
•
•

1,441,152
75,807
22,747
14,796
12,853
-

Total

5,482,509

1/ Included in total imports, column 2.

Imports sept.
20 to 23,
1939
1/
2,107
7,954
•
—
—
m

m

ub
os

m

25,449
7,088

m

W
»

10,016

1,599,886

10,061

FOR IMffiDlà§aU*lLIASE
The Bureau of Cuntgms announced today that preliminary reports from the
collectors of customs show -imports of cotton and cotton waste chargeable to
the import quotas established by the proclamation of the president of September
5, 1939, as follows, during the periot’^Se^tember 20.to 23, 1939:
COTTON (OTHER THAN HARSH OR ROUGH COTTON OF LESS THAN 3/4 INCH IN STAPLE LENGTH
AND GH2EFIT USED IN THE MANUFACTURE OF BLANKETS AND BLANKETING, AND OTHER THAN
LINTERS). Annual quotas commencing September 20, by Countries of Origin:

Country of
Origin
Egypt and the AngloEgyptian Sudan
Peru
British India
China
Mexico
Brazil
Union of SoTiet
Socialist Republics
Argentina
Haiti
Ecuador
Honduras
Paraguay
Colombia
Iraq
British East Africa
Netherlands East
Indies
Barbados
Other British Vest
Indies 1/
Nigeria
Other British Vest
Africa 2/
Algeria and Tunisia
Other Frenoh Africa 3/
Total

(In Pounds)
Staple length less
than 1-1/8 inches
:
e Imports Sept«
: Established : 20 to 23,
Quota
:
1939
783,816
247,952
2,003,483
1,370,791
8,888,899
618,723

48, 664
-

:
:

Staple length 1-1/8
inches or more
: Importe Sept*
2Q to 23,
: Established
:
1939
:
Quota

i

43,451,566
2,056,299
64,942
2,626
3,808
«

am

475,124
5,203
237
9,333
752
871
124
195
2,240

cm

—

435
506
-

cm

29,909

205,721
•
•
«W
•
m
cm
C*
m
m

-

71,388
-

•

«•

-

12,554

**

21,321
5,377

-

30,139

-

16,004
689
14,5Ib",U82--------------

cm
«.
cm

•
,664

4Bt

2,002
1,634
—
45,656,420

1/ Other than Barbados, Bermuda, Jamaica, Trinidad, and Tobago.
2/ Other than Gold Coast and Nigeria«
3/ Other than Algeria, Tunisia, and Madagascar«

*
205,721

PRESS RELEASE

m

\
VI

©le Coumissioner of Customs announced today that preliminary
figures shoving imports of cotton and cotton waste chargeable to the
import quotas established by the proclamation of the President of
September 5, 1939, w ill be issued by the Bureau of Customs as
frequently as the activity of the transactions warrants.

Tabulations

showing these imports w ill be posted at the Bureau of Customs, Room
808- Wilkins Building and at the Treasury Department, Room 39C^
*
^
Treasury Building ^ Ww«MgtB»r
Since these figures w ill be released to the press, copies of
the tabulations w ill not be available for mailing to individual
addressees,

importers and others interested should, therefore,

arrange to secure this information through their local proas or
trade associations.
The following tabulation shows preliminary figures for imports
of these commodities during the period September

20 to

23, 1959:

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS
Wednesday, September 27, 1939
9/26/39

Press Service
18-91

The Commissioner of Customs announced today than preliminary figures
shornng imports of cotton and cotton waste chargeaole to the import quotas
established by the proclamation of the President of September 5, 1939, m i l
be issued by the Bureau of Customs as frequently as the activity of the
transactions warrants«

Tabulations showing these imports will be posted at

the Bureau of Customs, Room 808 Wilkins Building, and at the Treasury Depart­
ment, Room 390 Treasury Building.
Since these figures will be released to the press, copies of the tabula­
tions will not be available for mailing to individual addressees# Importers
and others interested should, therefore, arrange to secure this information
through their local press or trade associations*
The following tabulation shows preliminary figures for imports of these
commodities during the period September 20 to 23, 1939s

-c' 4

- 2 -

COTTON (OTHER THAN HARSH OR ROUGE COTTON OF LESS THAN 3/4 INCH IN STAPLE LENGTH
AND' CHIEFLY USED IN THE MANUFACTURE OF BLANKETS AND BLANKETING, AND OTHER THAN
LINTERS)* Annual quotas commencing September 20, by Countries of Origin:

(in Pounds)
:
Staple length 1-1/8
Staple length less
:
inches or more
than l-l/8 inches
Imports Sept4
: Imports Sept*
20 to 23,
: Established
:
: Established : 20 to 23,
1939
1939
:
Quota
:
:
Quota
:
:
:

Country of
Origin

Egypt and the AngloEgyptian Sudan
783,816
Peru
'247,952
British India
2,003,483
China
1,370,791
8,883,259
Mexico
Brazil
618,723
Union of Soviet
Socialist RepublicJS
475,124
Argentina
5, 203
237
Haiti
Ecuador
9,333
752
Honduras
871
Paraguay
124
Colombia
195
Iraq
2,240
British East Africa
Netherlands East
71,388
Indies
Barbados
Other British West
21,321
Indies l/
5,377
Nigeria
Other British West
16,004
Africa 2/
Algeria and Tunisia
3/
689
Other French Africa
Total

14,516,882

' 48,664
-

43,451,566
2,056,299
64,942
2,626
3,808

205,721
-

-

435
506
—
29,909

—
—
—
—
-

-

12,554

-

-

30,139
-

—

-

2,002
1,634
—

Ml

48,664

45,656,420

l/ Other than Barbados, Bermuda, Jamaica, Trinidad, and Tobago#
2/ Other than Gold Coast and Nigeria«
3/ Other than Algeria, Tunisia, and Madagascar#

205,721

COTTON QAJtB STRIPS, COMBER WASTE, LAP WASTE, SLUDER WASTE, AND ROVING WASTE,
WHETHER OR EOT MANTJFACHIRED OR OTHERWISE ADVANCED IN VALUE. Annual quotas
commencing September 20, by countries of origin.
Total quota, provided, however, that not more than 33-l/3 percent of quotas
shall be filled by cotton wastes other than card strips and comber was es
made from cottons of 1-3/16 inches or more in staple length in the case
of the following countries: United Kingdom, France, Netherlands,
Switzerland, Belgium, Germany and Italy:

TOTAL IMPORTS : Established
: 33-1/3# of
Sept. 20 to
!
: Total Quota
23, 1939

Country of
Origin

:; Established
;: TOTAL QUOTA

United Kingdom
Canada
France
Briti sh India
Netherlands
Switzerland
Belgium
Japan
China
Egypt
Cuba
Germany
Italy

4,323,457
239,690
227,420
69,627
68,240
44,388
38,559
341,535
17,322
8,135
6,544
76,329
21,263

2,107

1,441,152

7,954
—

75,807

Total

5,482,509

10,061

-

Imports Sept.
20 to 23,
1939
1/
2,107

7 954
22,747
14,796
12,853

-

25,443
7,088 '

-

•*

-

l/ Included in total imports, column 2 #

-0O0-

1,599,886

10,061

The Commissioner of Customs announced today that instructions hare been
issued to the collectors of customs to provide for equal opportunities at all
ports for clearing cattle under the ta r iff rate quota on imports of cattle
weighing 700 pounds or more each, from countries other than Canada, at the
beginning of the fourth quarterly quota period on October 2, 1939.
The Commissioner said that arrangements have been made for a ll custom­
houses where entries, or withdrawals from bonded pastures, for consumption of
this class of cattle are likely to occur to open simultaneously on October 2,
1939, at 11:00 A. M. Eastern Standard Time, which w ill be l(h00 A. M. Central
Standard Time, 9:00 A. M. Mountain Standard Time and 8:00 A. M. Pacific Stand­
ard Time*
Entries and withdrawals for consumption covering this class of cattle
may be accepted at the lower rate of duty of l j cents per pound under the
trade agreement, provided delivery permit is not released pending determina­
tion of their quota status.

I f delivery permit is desired before such

determination, importers of this class of cattle w ill be required to deposit
estimated duties at the fu ll ta r iff rate of 3 cents per pound.

Upon receipt

by the Bureau of Customs of complete reports from customs officers covering
imports of this class of cattle, the collectors of customs w ill be advised as
to the rates of duty applicable to particular importations, and refund will
be made of excessive duties deposited on Importations which are found to be
within the quota limitation.
oOo—

TREASURY DEPARTMENT
Washington
Press Service
No* 18-92

FOR IMMEDIATE RELEASE'
Tuesday, September 26, 1939.

The Commissioner of Customs announced today that instructions have been
issued to the collectors of customs to provide for equal opportunities at all
ports for clearing cattle under the tariff rate quota on imports of cattle
weighing 700 pounds or more each, from countries other than Canada, at the
beginning of the fourth quarterly quota period on October 2, 1939*
The Commissioner said that arrangements have been made for all custom­
houses where entries, or withdrawals from bonded pastures, for consumption of
this class of cattle are likely to occur to open simultaneously on October 2,
1939, at lliOO A. M* Eastern Standard Time, which m i l be 10:00 A* M* Central
Standard Time, 9:00 A* M. Mountain Standard Time and 8:00 A* M* Pacific Stand­
ard Time*
Entries and withdrawals for consumption covering this class of cattle
may be accepted at the lower rate of duty* of 3p| cents per pound under the trade
agreement, provided delivery permit is not released pending determination of^
their quota status*

If delivery permit is desired before such determination,

importers of this class of cattle m i l be inquired to deposit estimated duties
at the full tariff rate of 3 cents per pound*

Upon receipt by the Bureau of

Customs of complete reports from customs officers covering imports of this
class of cattle, the collectors of customs will be advised as to the rates of
duty applicable to particular importations, and refund will be made of excessive
duties deposited on importations which are found to be within the quota limitation*

oOo-

— 3CliEAEMCES
Percent of
Kumher of
Net Tonnage of
Increase orl
Vessels__________ Vessels__________Decrease
1938 : 1939 :
1938
5
1939
: No,: TonnaJ
Direct to foreign Ports
Foreign vessels
Domestic vessels
Total

22,201 21,924
9,892 10,217
32,093 32,141

53,444,454
19,783,619

52,309,966
17,848,113

-1,3 -2.1
3.3

73,228,073

70,158,079

,2 -4.2

9.9 7.4
-8.4 -lid
3.8 -.2

Via Other Domestic Ports with
Residue Cargo to Unlade
Foreign vessels
Domestic vessels
Total

4,854
2,428
7,282

5,336
2,223
7,559

15,657,449
8,557,779
24,215,228

16,809,965
7,362,885
24,172,850

Via Other Domestic Ports
to Lade___ _________
Foreign vessels
Domestic vessels
Total

6,547
2,692
9,239

6,566
2,735
9,301

19,783,222
9,236,017
29,019,239

19,937,842
9,226,089
29,163,931

.3
1.6
.7

•5

To Noncontiguous Territory
Domestic vessels oxjly

6,108

6,420

9,798,294

10,587,978

5.1

8.11

To Intercoastal Ports
Domestic vessels only

5,468

6,156

20,119,919

22,964,704

To Coastwise Ports
Domestic vessels only

11,700 11,846

23,699,392

23,926,666

1.2

l.o 1

Total Clearances:
Foreign vessels
Domestic vessels

33,602
38,288

33,826
39,597

88,885,125
91,195,020

89,057,773
91,916,435

.7
3.4

.2 |
.8

71,890

73,423

180,080,145

180,974,208

2.1

.5

Total

.8

12.6 14.1

ENTRANCES

Number of
Vessels______
1938 : 1939 :
Direct from Foreign Ports
Foreign vessels
Domestic vessels
Total

21,965 21,809
12,308 12,650
34,273 34,459

Net Tonnage of
Vessels
1938
:
1939

52,236,449
19,948,397
72,184,846

51,566,860
17,852,747
69,419,607

Percent of ■
Increase or I
Decrease I
: No. : TonnaJi
-.7
2.8
.5

-1.3
-10.5
-3.8

Via Other Domestic Ports with
Residue Cargo to Unlade
Foreign vessels
Domestic vessels
Total

5,505
2,574
8,079

5,880
2,577
8,457

17,704,120
9,043,296
26,747,416

18,473,932
8,349,759
26,823,691

6.8
•1
4.7

4.3
-7.7
.3

Via Other Domestic Ports
to Lade
Foreign vessels
Domestic vessels
Total

6,068
2,598
8,666

6,276
2,469
8,745

18,454,820
8,883,451
27,338,271

19,263,859
8,430,874
27,694,733

3.4
-5.0
.9

4.4
-5.1
1.3
1

From Noncontiguous Territory
Domestic vessels only

5,544

5,778

9,162,362

9,599,423

4.2

4.8

From Intercoastal Ports
Domestic vessels only

5,684

6,346

20,843,726

23,592,471

11.6

13.2

From Coastwise Ports
Domestic vessels only

11,312 11,429

22,815,940

23,601,994

1.0

3.4

Total Entrances:
Foreign vessels
Domestic vessels
Total

33,538 33,965
40,020 41,249
73,558 75,214

88,395,389 89,304,651
90,697,172 91,427,268
179,092,561 180,731,919

1.3
3.1
2.3

1.0
.8
.9

- i S m , 75,214

Custom Houses^ an increase of

2.3$

vessels made entry at United States

from the

73,558

ships which entered during

the preceding fiscal year, the Commissioner of Customs announced today.

The

totals include entries at Puerto Rico, Virgin Islands, Hawaii, and Alaska
with those for the continental United States.
Entering * is used as a technical term by Customs officials to refer to
the filing of certain specific documents with the collectors of customs within
a short time after the arrival of the vessel at a port. All vessels, whether
of foreign or domestic registry, arriving in this country direct from foreign
ports are required to make entry at a Custom House.

In addition, all foreign

vessels plyingjbetween American ports for the purpose either of securing further
cargo or of unlading; residue cargo, are required to make entry at each port of
call, American vessels, if registered for foreign trade, or if they carry ai^
foreign cargo in "bond, are likewise required to make entry at each port of call.

I
I

The total number of vessels entering direct from foreign ports during the
\i
V P®** fiscal year was 34,459, an increase of .5# from the previous year.

I
I

net tonnage of these vessels, however, was smaller than during 1938.

The

Of the

I

I above total, the number of foreign vessels was smaller, while the number of
American vessels increased by 2.8$.

A
detailed statement of the number and net tonnage of entrances and
clearances of vessels for each of the past two fiscal years f e w follows:

l

TREASURY DEPARTMENT
Washington
press Service
No* 18-93

FOR RELEASE, AFTERNOON NEWSPAPERS
Friday, September 29, 1939
9758

A total of 75,214 vessels made entry at United States Custom Houses in
fiscal 1939, an increase of 2.3f. from the 73,558 ships which entered during
the preceding fiscal year, the Commissioner of Customs announced today.

The

totals include entries at Puerto Rico, Virgin Islands, Hawaii, and Alaska
with those for the continental United States.
The total number of vessels entering direct from foreign ports during the
past fiscal year ivas 34,459, an increase of

from the previous year.

net tonnage of these vessels, however, was smaller than during 1938.
above total, the number of foreign vessels m s

The

Of the

smaller, while the number of

American vessels increased by 2»Q%*
"Entering" is used as a technical tern by Customs officials to refer to
the filing of certain specific do—

ts with the oolleotors of customs within

a short time after the arrival of the vessel at a port.

All vessels, whether

^

of foreign or domestic registry, arriving in this country direct from foreign
ports are required to make entry at a Custom House.

In addition, all foreign

♦
4-Vvp» Tmr'nose Gi”bli03r oi s0c1.11
vessels plying between American ports foi the purpooe eion.r

fHX**biior

cargo or of unlading residue cargo, are required to make entry at each port of
call.

American vessels, if registered for foreign trade, or if they carry any

foreign cargo in bond, are likemse required to make entry at each port of call.
A detailed statement of the number and net tonnage of entrances and
clearances of vessels for each of the past two fiscal years follows:

2
ENTRANCES

Number of
Vessels
1938 : 1939
Direct from Foreign Ports
Foreign vessels
Domestic vessels
Total

:

Net Tonnage of
Vessels
i 1939
1938

Percent of
Increase or
Decrease
: No. : Tonnage

-1.3
2 .8 -10.5
.5 -3.8

52^236,449
19,948,397
7*2,184,846

51,566,860
17,852,747
69,419,607

~*7

Via other Domestic Ports with
Residue Cargo to Unlade
Foreign vessels
Domestic vessels
Total

5,505
2,574
8,079

5,880
2,577
8,457

17,704,120
9,043;296
26,747,416

18,473,932
8 ,349;759
26, 823, 6S31

6 .8
.1
4.7

4.3
-7.7
*3

Via Other Domestic Ports
to lade
Foreign vessels
Domestic vessels
Total

6,068
2,598
8,666

6,276
2,469
8,745

18,454,820
8,883,451
27,338,271

19,263,859 3.4
8,430,874 -5.0
.9
27,694,733

4,4
-5.1
1.3

From Noncontiguous Territory
Domestic vessels only

5,544

5,778

9,162,362

From Intercoastal Ports
Domestic vessels only

5,684

6,346

20,843,726

23,592*471 1 1 . 6

13.2

From Coastwise Ports
Domestic vessels only

11,312

11,429

22,815,940

23,601,994

1 .0

3.4

Total Entrances:
Foreign vessels
Domestic vessels
Total

33,538
40,020
73,558

33,965
41,249
75,214

88,395,389 89,304,651
90,697,172 91,427,268
179,092,561 180,731,919

1.3
3.1
2.3

1.0
.8
.9

9,599,423

4.2

CO

21,809
12,650
34,459

•

21,965
12,308
34,273

CLEARANCES

Direct to Foreign Ports
Foreign vessels
Domestic vessels

:

Percent of
Net Tonnage of
Increase or
Vessels ___________ Decrease
: Tonnage
1939
:
1938
:
*
o
£3

Number of
Vessels
1938
: 1939

2 2 ,2 0 1
9,892

21,924
10,217

53,444^454
19,783,619

52;309;966
17,848,113

-1*3
3.3

-2 . 1
-9,8

32,093

32,141

73,228,073

70,158,079

.2

-4.2

4,854
2,428

5;336
2,223

15^657^449
8,557,779

16^809,965
7,362,885

9,9
-8,4

7.4
-14.0

7,282

7,559

24,215,228

24,172,850

3.8

6,547
2,692

6,566
2,735

19,783,222
9,236,017

19^937,842
9,226,089

.3
1.6

.8
-.1

9,239

9,301

29,019,239

29,163,931

.7

.5

To Noncontiguous
Territory
Domestic vessels only

6,108

6,420

9,798,294

10,587,978

5.1

To Intercoastal Ports
1 Domestic vessels only

5,468

6,156

20,119,919

22,964,704

1 2 ,6

To Coastwise Ports
Domestic vessels only

11,700

11,846

23,699,392

23,926,666

1 .2

Total Clearances:
Foreign vessels
Domestic vessels

33^602
58,288

33,826 88,885;125
39,597 91,195,020

71,890

73,423 180,080,145 180,974,208

Total
Via Other Domestic Ports
-with Residue Cargo to
Unlade
Foreign -vessels
Domestic vessels
Total
Via Other Domestic Ports
to Lade
: Foreign vessels
Domestic vessels
Total

CO

oOo-

l— l
•

Total

89,057,773
91,916,435

.2

—

14.1

1 .0

.7
.2
5*4______ J3
2*1

.5

PRESS RELEASE

The Bureau of Customs announced today that preliminary reports from
the collectors of customs show that entries for consumption and withdrawals
from bonded pastures for consumption of cattle weighing 700 pounds or more
each, other than dairy cows, have been accepted cohering 50,915 head from
Canada during the period July 1 to September 25, 1959, and 7,827 head from
other countries during this period.
This total from Canada represents 98.4 percent and that from other
countries 94.5 percent of the tariff rate quotas on imports cfthis class of
cattle for the third quarter of the current calendar year, provided for in
the trade agreement with Canada.

TREASURY DEPARTMENT
Washington
FOR BMEDIATE RELEASE
Mondayj October 2, 1939

press Se;r7lce
No* 18-94:

The Bureau of Customs announced today thatpreliminary reports

from the

collectors of customs show that entries for consumption and withdrawals from
Bonded pastures for consumption of cattle weighing 700 pounds or more each,
other than dairy cows, have been acceptedcovering 50,915
during the period July 1 to September 23,

head from Canada

1939, and 7,827 head from other

countries during this period»
This total from Canada represents 98*4 percent and that from other countries
94*5 percent of the tariff rate quotas on imports of this class of cafctle for
the third quarter of the current calendar year, provided for in the trade agree­
ment with Canada*

-oOo-

TOEÄsmnr

dsparromt

Washington

tm u u u » ,

MOKÎOTG

mmpkm®,

Ta»8tftyä 0etoi?»r 3, IM » _____
IÓ/2/39

fmm serriea
i <r
t«

«

1>

The Secretary of tbe Treasury announced last evening that the
tenders for #10 0 ,000,000, or thereabouts, of 91*Aay Treasury b ills , to be
dated October 4, 1939, end to sature January 3, 1940, which sere offered
on September 29, »ere opened at the federal Reserve banks on October 2«
The detalle of this issue are at felloes*

Total applied for * $434,910,000
Total accepted
• 100,548,000
Range of accepted bide:

High
Low
Average price

* 100«
«
99*989 Suivaient rate approximately 0*044 pereent
99*991
*
*
*
0*05$
*

(5 percent of the amount bid for at the lev price was accepted)

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, October 3« 1939«_____
10/2/39.

Press Service
^T°*

The Secretary of the Treasury announced last evening that the tenders
for

',100,000,000, or thereabouts, of 91-day Treasury bills, to be dated October

A, 1939, and to mature January

19AO, which were offered on September 29, were

opened at the Federal Reserve banks on October 2.
The details of this issue are as follows;
Total applied for
Total accepted

—
—

SA3A,910,000
100,5A&,000

Range of accepted bids:
High
Low
Average price

(5

-

.

100
99.939
QQ M i

Equivalent rate approximately 0.0AA percent
I!
it
'!
0*036
"

percent of the amount bid for at the low price was accepted)

»—

0O 0—

[K

Treasury Department
(yi,)LWashington

For Immediate Release
Wednesday,October 4,1939

ft*ess Service
h°*

The Procurement Division of the Treasury Department today
advertised for bids on/fcin under the provisions of the strategic and critical
materials act*
The Division asked for bids on 200,000 pounds of
&±s and 200,000 pounds of Grade B tin

Grade A,

to be delivered in freight oars F.O.B., aray 1

General Depot,Columbus,Ohioi Baltimore Harbor,Baltiaore,Md*, or New York Harbor,New
York City*

The proposal xswx specifies

that materials offered

under this invitation. Bare to be new importations from foreign sources
or materials available from domestic mines*
Bids are to be opened by the Division in Washington oj
Nov.

TREASURY DEPARTMENT
Yifashington

FOR IMMEDIATE RELEASE,
Wednesday, October L, 1939.

Press Service
No. 18-96

The Procurement Division of the Treasury Department today advertised
for bids on pig tin under the provisions of the strategic and critical materials
act»
The Division asked for bids on 200,000 pounds of Grade A and 200,000
pounds of Grade B tin to be delivered in freight cars F.O.B., Army General
Depot, Columbus, Ohio 5

Baltimore Harbor, Baltimore, Maryland, or New York

Harbor, New York City.
The proposal specifies that materials offered under this invitation
"are to be new importations from foreign sources or materials available from
domestic mines,"
Bids are to be opened by the Division in Washington on November

— ouo-

6.

-COFY-

October 5, 1939

MEMORANDUM FOR THE SECRETARY

On September 21st proposals were issued covering requirements of
manila fiber (hemp) to be opened October 23rd*
This afternoon a joint letter from the Assistant Secretary of War
and the Actinb Secretary of the Navy was received, requesting that
inasmuch as the price of hemp has risen considerably, that this
proposal be cancelled.
In accordance with this joint request, notices have been sent to
those who were furnished with proposals to the effect that they
have been cancelled*

(Signed) H* E. COLLINS
Director of Procurement

TREASURY DEPARTMENT
Yiashington

FOR M E D I A T E RELEASE,
Thursday, September 21, 1939.

Press Service
No. 18-87

The Procurement Division of the Treasury' Department today
advertised for bids on manila fiber (abaca) under the provisions of the
strategic and critical materials act«
The Division asked bidders to submit prices oh fiber to be shipped
from the Philippine Islands for delivery at the U. S. Army Supply Base,
South Boston, Massachusetts.

Prices were asked on quantities ranging

from 500 to 7,000 bales of varying grades, and the bidders were requested
to indicate whether the material to be offered is of domestic or foreign
origin*

•oOo—

FOR IMMEDIATE RELEASE,
r

,/

OCT

H

6 1939

.v -

hi.

I S~°i /

'

'

The Procurement Division of the
Treasury Departs© nt today cancelled proposl
A

purchase of rnanila fiber (abaca) under the provisions
of the strategic and critical materials act.
A joint letter from the Acting Secretary
of the Navy and the Assistant Secretary of War, pointing
out that the price of the fiber had ri^en considerably^
requested the cancellation*!** the Procurement Division
immediately notified those who had been furnished with
specifications after bids had been asked on September 21.
Wijiifwere to have been

opened October 23*

7\

The proposal* called for prices on
fiber to be shipped from the Phillipine Islands for
delivery at the United States Army Supply Base at
South Boston, Mass.

Ppioes■wo/re

rai

ooOoo

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, October 6, 1939*

Press Service
N°* 1&-97

The Procurement Division of the Treasury Department today can­
celled its proposed purchase of manila fiber (abaca) under the provisions
of the strategic and critical materials act*
A joint letter from the Acting Secretary of the Navy and the
Assistant Secretary of War, pointing out that the price of the fiber
had risen considerably since the proposal was announced, requested the
cancellation.

The procurement Division immediately notified those who

had been furnished with specifications after bids had been asked on
September 21.

Bids were to have been opened October 23*

The proposal called for prices on fiber to be shipped from the
Philippine Islands for delivery at the United States Army Supply Base
at South Boston, Massachusetts.

■oOo-

WMBWTT JMPkWItfWP

msmmfm
wm m»wm$ mmmm mmpÀm®,

Fremi Barrico

Tooeday» Oetobar 10, 1939.
WÌTIt

.. .... .

ìK-qt

....

The Secrettsry of thè Treasury aanouaeed iaet evemiag that thè
tand era fop #100,000,000, or theretibouta, of 91-4ay Treasury M ilo , io be
date* Cetober 11, 1999, and te naturo Janaary 10, 1940, whleh vero offorod
on Ootefeer 4, «oro opened at thè Foderai Reserre feanke on Oetober 9*

Tkmdetal le
M e i oppilo*for
Tote! aceepted

of thl# iseue oro oo fellema :
*

$991,978,000
- 100,198,000

Rango of aoeopted bidet
High
* 100«
Lem
• 99*998 Squlralent r o to o p p re a c ln a to ly 0*098 poreo&t
Areraga prtee «* 99*999
*
»
0*088
*

*

(90 pereeot of tèe anouat bld for et thè lem prico eoo aeeopted )

TREASURY DEPARTMENT
Washington

Press Service
No# 18-98

FOR RELEASE, MORNING 'NEWSPAPERS
Tuesday, October 10, 1939»_____
10 /9/39 !

The Secretary of the Treasury announced last evening that the tenders
for <$100,000,000, or thereabouts, of 91-day Treasury bills, to be dated October
11, 1939 9 and. to mature January 10, 194-0, which were offered on October 6, were
opened at the Federal Reserve banks on October 9.
The details of this issue are as follows :
Total applied for
Total accepted

- $331>978,000
- 100,198,000

Range of accepted bids*.
High
Low
Average price

- 100,
- 99*992
-

Equivalent rate approximately 0.032 percent
99*995
"
"
"0*022

(30 percent of the amount bid for at the low price was accepted)

•0 O 0—

Jan.l«Sept.30.1939
September 15, 1938, to
FISH, FRESH OR
September 14, 1939
September 15 to 30,1939
FROZEN, FILLETED,
WHITE OR IRISH POTATOES WHITE OR IRISH POTATO»
ETC., Cod, Haddock, CERTIFIED
CERTIFIED
Hake, Pollock, Cusk,
OTHER
SEED
SEED
:
other!
l
1 Rosefish
(Pounds)
(Pounds)
(Pounds)
: (Pounds)
(Pounds
TOTAL IMPORTS
Percent of Quota

8,039,870
53.60#

59,758,730
66.40#

1,283,594
2.14#

215,000
0.24#

1,079
0.002*

COUNTRY OF EXPORT
Canada
Other Countries

8,039,870
-

59,758,730
-

1,109,048
174,546

215,000
-

1,079
-

1,042,741
264,450
355
49,089
36,025
2,250
848,274

48,960
«
79,680
8,134,439
5,390,345
242,278
1,591,012
459,080
33,972,702
842,047
23,870
36,356
487,338
117,060
8,312,788
20,775

5,599
42,000
6,147
120
100,968
55,680
43,063
68,333
48,430
235,237
553,654
18,245
•
5,818
100,300

215,000
-

CUST0M3 DISTRICT
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Indiana
Los Angeles
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Ohio
Philadelphia
Pittsburgh
Puerto Rico
Rochester
St. Lawrence
St. Louis
San Francisco
South Carolina
Vermont
Virginia
Washington
Wisconsin

585,776
2,816,082
62,776
187,933
389,580
86,481
74,450
618,533
855,669
3,000
72,220
28,074
16,112

-

m
*
•

(Prepared by Division of S tatistics and Research, Bireau of Customs)

50
-#
*Vi
289
233
-

-

»
507

-J

&

/>

'V

1§§

PRESS RELEASE
The Bureau of Customs announced today preliminary figures on imports of
commodities under the quota provisions of the Canadian Trade Agreement, as of
September 30, 1939, and the percentage that such imports bear to the totals
allowable under the quota provisions, as follows:

:

January 1 to Sept. 30,
CATTLE 700# OR MORE
1939
(Other than Dairy Cows)
:
; July 1-Sept.30 •: Jan. 1-Sept .30 : WHOLE MILK : CREAM •
(Head) : (Gallon) : (Gallon)
: 1939
(Head) : 1939

“1

:

5,327
0.18%

1,313
0.09%

58,740
________

182,899

COUNTRY
EXPORT
Canada
Other Countries

50,913
7,827

136,928
45,971

5,327
-

722
591

CUSTOMS DISTRICT
Alaska
Arizona
Buffalo
Chicago
Dakota
Duluth & Superior
£1 Paso
Galveston
Los Angeles
Maine
N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana
Idaho
New York
Ohio
Omaha
Oregon
Philadelphia
Pittsburgh
Puerto Rico
St. Lawrence
St. Louis
San Antonio
San Diego
San Francisco
Vermont
Washington

378
10,176
585
7,632
5,338
132
53
17
9,048
16,441
204
1,987
20
200
1,155
974
643
362
65
3. 550

9,487
37,430
940
17,530
39
28,666
132
253
74
187
17
15,358
45,020
1,065
3,771
332
1,520
858
104
111
1,187
974
5,239
1,031
8
372
1 1 T194

406
j[V '1''
2,409
-

9
308
—
41
—
—
135
—
4
—
—

TOTAL IMPORTS
Percent of Quota

-2L _________ r JL

OF

&

Sc

1/

m e

O U .tf X O u e a u

im p u r b e u

x a v iu

*

*

*

*

*

— --------r- —

mt

mm
mm

1,625
291
—
**

%t.

m

mm

591
—
38
422
—
**
**
—
**
—
—
187
174
, * .... :---- ...
-------

- --

-

for the third quarter of the calendar year. The 7,827 head imported from other counJ»
tries represents 94.53% of the ta r iff rate quota for the third quarter of the cal­
endar year.
2/ The 182,899 head includes 177,991 head dutiable at the reduced rate under the
trade agreement and 4,908 head dutiable at the f u ll ta r iff rate.

TREASURY DEPARTMENT
Washington
FOR .RELEASE, MORNING NEWSPAPERS,
Wednesday, October 11. 1939.
10 /10 /3 9 .

Press Service
No. 18-99

The Bureau of Customs announced today preliminary figures on imports of
commodities under the quota provisions of the Canadian Trade Agreement, as of
September 30, 1939., and the percentage that such imports bear to the totals al­
lowable under the quota provisions, as follows:
:
CATTLE 700# OR MORE
: January 1 to Sept, 30,
:
(Other than Dairy Cows)
:
1939
: July 1-Sept . 30 : Jan.1-Sept. 30: WHOLE MILK : CREAM
:(Gallon)
: 1939
(Head): 1939
(Head) : (Gallon)
TOTAL IMPORTS
Percent of Quota

58 ,7-10
__________ - 1 /

COUNTRY OF EXPORT
Canada
Other Countries

50,913
7,827

182,899
_______ * M

136,928
45,971

5,327
0.18%'

1,313
0.09%

-

722
591

4.O6
—

—

5,327

CUSTOMS DISTRICT
Alaska
Arizona
Buffalo
Chicago
Dakota
Duluth and Superior
El Paso
Galveston
Los Angeles
Maine L N. H,
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Ohio
Omaha
Oregon
Philadelphia
Pittsburgh
Puerto Rico
St. Lawrence
St. Louis
San Antonio
San Diego
San Francisco
Vermont
Washington
Footnotes (See next page)

„
378
10,176

9,407
37,430

585
7,6 32

940

—

5,338
I32
-

17,530
39
28,666

132

16,441

253
74
187
17
15,358
45,020

204

1 ,0 6 5

1,987

20

3,771
332

-

1 ,5 2 0

53
—

17

9,048

9
-

—
2,409

308

—

-

—

—

-

41
135
—
4

1,625
-

291
-

-

-

200

858

-

—

104

-

591

1,155
974
643

422

38

362

1,187
974
5,239
1,031

-

8

65

372
11,194

3,330

111
0~

-

-

-

-

—

174

187

-

—

-

x*r rj.

y

M I S
1/ The 50,913 head imported from Canada represents 98.44$ of the tariff rate
quota for the third quarter of the calendar year. The 7,827 head imported from
other countries represents 94.53$ of the tariff rate quota for the third quarter
of the calendar year.
2/ The 182,899 head includes 177,991 dutiable at the reduced rate under the
trade agreement and 4,908 head dutiable at the full tariff rate.

Jan,l~Sept,30,1939 s September 15,1938 to
:Sept.15-30,1939
FISH,FRESH OR
s September 14, 1939
; W I T S OR IRISH
FROZEN, FILLETED,
;WHITE OR IRISH POTATOES :
POTATOR
ETC., Cod, Haddock,z CERTIFIEI
:CERTIFIED
Hake,Pollock, Cusk,;
SEED
OTHER
: SEED; OTHER

TOTAL IMPORTS
Percent of Quota

8,039,870
53.60ÎS

59,758,730
66.40$

1,283,594

COUNTRY OF EXPORT
Canada
Other Countries

8,039,870

59,758,730

1,109,048
174,546

-

-,

1,042,741
264,450
355
49,089

48,960

5,599
42,000

CUSTOMS DISTRICT
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Indiana
Los Angeles
Maine & N.K.
Maryland
Massachusetts „
Michigan
Minnesota
Montana & Idaho
New York
Qiio
Philadelphia
Pittsburgh
Puerto Rico
Rochester
St. Lawrence
St.. Louis
San Francisco
South Carolina
Vermont
Virginia
Tiashington
Wisconsin

—

79,680
—

-

8,134,439

36,025
2,250
848,274

—

-

585,776
2,816,082
62,776

O "1 J
~ 1

5,390,345
242,278
1,591,012
459,080

_

100,968
55,680
43,063
68,333

187,933
389,580
86,481
74,450

33,972,702

48,430
235,237

842,047

553,654

—

23,870
36,356

..
..

618,533
855,669
3,000

—

18,245

28,0.74
16,112

215,000

1,079

50

—

—

—

1,079

6,147
120

-

72,220

215,000

C/

215,000

—

,

487,338
117,060
8,312,788
20,775

100,300

—

-

— oOo—

5,818

507