Louis’ fighting urge stays strong
Joe’s eager to battle Baer, Conn and Franklin, and is itching for crack at those Japs
By Harry Grayson, NEA Service sports editor
GREENWOOD LAKE, New York, Jan. 3 (NEA) – Joe Louis Barrow turns into his 11th year of fighting with only a slight scar on his right eyelid to show for 110 battles – 56 as a professional.
Joe Louis will be 28 years old May 13.
He has earned $1,750,000 with his fists.
What are the world champion’s plans?
“Buddy Baer, January 9. Billy Conn in June, and I hope dat boy, Lem Franklin, keeps coming,” replies Louis, in his simple, straight-forward way. “Anyone Mike Jacobs picks.”
Would he box Franklin, the Cleveland Negro who has moved along like a prairie fire?
“With the greatest of pleasure,” says Louis. “Roxy (Manager John Roxborough) and Chappie (Trainer Jack Blackburn) don’t think much of him, but I know he has improved. I keep track of all them fellas.
“I’m going to see Franklin fight Bob Pastor in Cleveland in February. I’ve seen him two or three times.
“Saw him lose a six-round decision to Freddie Fiducia in the Garden. He hasn’t hit Fiducia yet, but that was four years ago, and Fiducia knew too much for him. He’s a right-hand puncher who depends on punching and has a bristle right hand.
“I hope that right hand stays in good repair and that he keeps knocking them fellas out until September. I’ll be lookin’ for an appointment about that time.”
Louis urge strong as ever
How long would Louis remain in the thick of things?
“Until next September, anyway,” he explains.
“Right now I have the urge as strong as I’ve ever had it – to such an extent that I’ve spent the holidays in a training camp.”
Louis did this in order to give his entire purse for the encore with the 245-pound Baby Baer to the Naval Relief Society, which will net something like $120,000 as the result.
“But I’d like to retire undefeated,” continues Louis, “after giving everybody around a crack.
“I’ll hang ‘em up at the first sign that I’m slipping. I’d like to retire undefeated while in the Army.”
Louis expects to be inducted into the Army at any time.
“Army life will do him good,” asserts Handler Blackburn. “And he’d like to be tossed right in among them Japs in the Philippines. For one thing, he won’t do as much intensive boxing training as he has done in order to keep his fighting dates as a civilian.”
The Louis camp is confident that unless Louis is included in an expeditionary force, he will be given furloughs to fight with his fists. No service fund will have to ask twice for his championship services. He expresses his willingness to continue fighting for nothing, if it will help his country.
Louis is vastly more concerned about the war and golf than he is about the Buddy Baers, Conns and Franklins.
Joe owns farm, apartments
What will Louis do when he quits the ring?
He owns 477 acres, 22 miles out of Detroit. More than 200 acres are under cultivation. On the remaining land are cattle and hogs, a riding academy, clubhouse and dancing pavilion.
He owns two apartment buildings in Chicago.
“I’ll manage to keep busy,” declares Louis.
Where will he make his home?
“My wife likes Chicago,” smiles Louis. “Chicago is all right with me, too, except Detroit has been my home since I was a kid. My people and most of my friends are there, and I’d like to stay close at hand.
“I guess it will depend on who’s boss, the missus or me.”
Meanwhile, Joe Louis turns into 1942 – read for anyone and any kind of fighting.
Battery loss is big worry to Boudreau
Young Cleveland pilot expects Hegan to join Feller
By Willard R. Smith, United Press writer
MADISON, Wisconsin, Jan. 3 (UP) – Probable loss of an entire battery to the armed forces of the United States tonight wrinkled the brow of baseball’s youngest big league manager, 24-year-old Lou Boudreau of the Cleveland Indians.
With Bob Feller, the Indians’ pitching marvel, already in the Navy, Boudreau wondered whether revised draft regulations would not also take Jim Hegan, promising young catcher who came to Cleveland from the Eastern League last year.
But organized baseball always has, and always will, contribute all it can to the welfare as well as the entertainment of the nation, said the young shortstop, who a month ago skyrocketed into the position of youngest big league manager in all baseball history after only two and one-half years of big league experience.
Feller biggest loss
“You don’t pick 20 or 22-game winners out of a hat,” Boudreau said, lamenting the absence of Feller from the 1942 Indian roster.
Finding someone to replace Feller even partially is his major problem, Boudreau conceded. Maintaining club discipline, keeping the Indians on the reservation and out of tribal warfare, fades into insignificance in comparison, he indicated. In fact, Boudreau said, he anticipates no disciplinary difficulties with the Tribe which arose in revolt against Manager Oscar Vitt in 1940.
Boudreau, former University of Illinois basketball and baseball player, was in Madison for the Wisconsin-Illinois opening of the Big Ten basketball season. He revealed that he will continue as assistant to Coach Doug Mills of Illinois until the start of spring baseball practice at Clearwater, Florida, where he expects to report around February 23.
Sees ‘baseball as usual’
Baseball, despite an uncertain future, may play an important part in the relaxation and recreation advisable during war time, and is going ahead under the slogan “business as usual,” Boudreau said. His losses to the armed forces also include Outfielders Clarence Campbell and Bob Frierson.
Louis v. Baer…
Indoor gate record seen
NEW YORK, Jan. 3 (UP) – The young but bellicose year blossoms out with a world’s heavyweight championship fight Friday night as big Buddy Baer tries again to wrest from Joe Louis the golden crown once worn by Brother Maxie.
Brothers have been champions in other divisions, but never in the heavyweight class, and the wagering men here were offering 6-1 today that Buddy wouldn’t change the situation.
Despite the odds, fans are purchasing tickets with such enthusiasm that Promoter Mike Jacobs hopes for a sell-out at The Garden and a record indoor fight gate of about $225,000.
Navy fund gets profits
The customers are going for this brawl for two major reasons: (1) it promises plenty of fireworks, and (2) the entire profits, probably about $100,000, go to the Navy Relief Society.
Fireworks are in prospect because this 15-round bout brings together two terrific punchers, men who provided plenty of thrills in their first stormy meeting at Washington, D.C., May 23, when the Sacramento giant knocked Louis through the ropes in the first round, only to be floored three times and disqualified later.
Buddy’s not cowed a bit
Buddy showed no fear of Louis at Washington, and he is expected to have even more confidence this time.
He discovered that he punches hard enough to knock the champion off his feet, and he believes that Louis won at Washington only because Joe stunned him with a blow after the bell ending the sixth round. Moreover, Buddy, now 26, realizes that this unquestionably will be his last chance at the heavy crown, so he’ll go all out.
Experts and betting men naturally favor Louis overwhelmingly because he is the most destructive heavyweight in ring history. Louis will scale about 205 pounds, heaviest in his career. Baer will weigh 245. Moreover, it is generally known that Louis, making his 20th title defense, is determined to go into the Army still wearing the crown. Jolting Joe is in Class 1-A, and is expected to be called soon after this bout.
Stock market rise carries over into ‘42
Rails advance on heavy buying; AT&T jumps 11 points
By Elmer C. Walzer, United Press financial editor
NEW YORK, Jan. 3 (UP) – The year 1941 ended on a traditional year-end rally that carried over into 1942.
Volume contracted in the new year as tax selling of 1941 relaxed. Sales for the short week nevertheless averaged 1,705,000 shares daily, against 1,415,000 shares in the preceding week. On Monday the volume reached 2,930,000 shares, the largest since May 21, 1940.
Sales for the year 1941 totaling 170,603,671 shares were the smallest for any year since 1918. They compared with 207560000 shares in 1940. The December 1941 total, swelled by many days of 1,000,000 shares and over, was the best for the particular month since 1936.
Commodities at new high
Commodities were strong with the United Press index of 30 basic commodities at a new high since April 24, 1937, at 151.54 percent of the 1930-1932 average.
Course of the war was ignored in the market. The news while adverse at times, notably the fall of Manila, appeared to have been discounted. Market men believe many adverses will come before eventual victory.
The trend toward an all-out economy was accelerated during the week. The outlook was for eventual elimination of all production of autos for other than the defense program.
Wall Street tried to select the stocks of industries that would be least affected by allocations and priorities. Traders concluded that curtailment of auto production would throw more business to the railroads. They bought railroad shares heavily late in the week.
Selling hits oils
On the theory that fewer passenger cars will be run, the market, men anticipated smaller use of gasoline and there was considerable selling in the oil shares which closed the week with losses.
For a time in the Friday session, the aircrafts were depressed by President Roosevelt’s statement that the government was studying a plan to move the plants on the East and West Coasts to the interior. These issues met support later, however, when the whole market, except oils, turned up.
Pressure relaxed on utilities in the first session of the new year. Before that there had been probably the heaviest tax selling in history concentrated in this group. There had been tax selling as well in motor shares, and such issues as American Telephone. This also relaxed and prices moved higher late in the week.
Rails score good gains
Railroad issues closed the week at substantial gains. Best performers were Umon Pacific issues, Southern Pacific, Southern Railway issues, Louisville & Nashville, Santa Fe, Atlantic Coast Line, and Chesapeake & Ohio.
Utilities scored good recoveries late in the week and many of them finished on gams ranging to more than 2 points.
American Telephone recovered more than 11 points. American Can, recently hammered down on outlook for reduced tin supplies, came back 5 points. Steels were in demand Friday and motors improved on belief war work would offset loss of civilian business.
Steels close strong
Rubber shares were slower than other groups to rally but they managed to gain small amounts. Steels were strong late in the week. Some of the foods came back substantially with Corn Products making a new high for more than a year.
Chemicals and other high-priced issues had wide recoveries on short covering. Coppers improved and the mercantile stocks had a good recovery when tax sales were completed. Tobaccos eased when Leon Henderson frowned on cigarette price advances.
Currency in circulation holds near record high
WASHINGTON, Jan. 3 (UP) – Monetary circulation in the United States remained at a near-record level at the close of 1941, according to the weekly condition statement issued by the Federal Reserve System today which disclosed that less than 121 percent of the $507,000,000 added to national circulation in the three pre-Christmas weeks was withdrawn in the period ended December 31.
Reflecting both wartime hoarding and the continued heavy demand for currency incidental to booming employment and payrolls, total circulation on December 31 was reported at $11,161,000,000, only $63,000,000 under the all-time high set in the final week before Christmas.
The normal currency retirement after Christmas, on the basis of the amount put into circulation in the pre-holiday weeks, would be in the neighborhood of $150,000,000.
The system’s condition statement also revealed a small rise in both actual and excess reserves of all member banks and disclosed that the New York banks sold U.S. government securities in considerable volume during the December 31 week.
Bank reserves rise
Actual reserves of all member banks were reported at $12,450,000,000 as of December 31, an increase of $3,000,000 for the week, while excess balances were up $30,000,000 at $3,690,000,000.
Additions to member bank reserves were traced principally to the drop in monetary circulation, coupled with decreases of $41,000,000 in Treasury deposits with the Federal Reserve banks and $68,000,000 in non-member deposits and other Federal Reserve accounts. An increase of $4,000,000 in Treasury currency also contributed to the reserve rise.
Offsetting these factors were a $20,000,000 increase in Treasury cash and decreases of $138,000,000 in reserve bank credit and $14,000,000 in monetary gold stocks, the latter to $22,736,000,000.
Reversing the trend of the New York member banks, the statement showed that the 12 regional banks of the reserve system added $11,338,000 to their holdings of U.S. government bonds, increasing their total holdings of federal securities to $2,254,475.000.
Loans decline
Outstanding loans and investments of the New York member banks were reported at $12,159,000,000 on December 31, a drop of $116,000,000 for the week. Member bank loans were down $47,000,000 while their investment holdings showed a decrease of $69,000,000.
Commercial, industrial and agricultural loans of the New York members were down $32,000,000 at $2,573,000,000 while their loans to brokers and dealers fell $9,000,000 to $364,000,000.
The banks’ holdings of Treasury bills were reduced $26,000,000 in the latest week, and their holdings of Treasury notes were down $3,000,000, while investments in government bonds dropped $45,000,000. Holdings of government-guaranteed obligations declined $3,000,000 and investments in other securities showed an increase of $8,000,000.
Bond market joins upturn in stock list
Prices recover most of losses recorded in December break
NEW YORK, Jan. 3 (UP) – A brisk year-end rally in stocks spread into the domestic corporate bond market this week, enabling the list to regain most of the ground lost on the early December break and start the new year about midway between the highs and lows of 1941.
U.S. government obligations, however, continued to fluctuate erratically in a relatively slow trade reflecting the usual end-of-the-year withdrawal of big institutional investors from the market.
Meanwhile, Philippine dollar bonds were hard hit in over-the-counter dealings by the fall of Manila, losing as much as 7 points on the week and extending their losses since the start of the war on December 7 to around 28 points.
Australian bonds slump
The issues, outstanding in the amount of about $35,000,000, all were selling above 80 percent of par, however, and there appeared little doubt in investment quarters that the backing of the United States government assured continuance of full service on these bonds.
Foreign dollar loans for the most part were firm, except for a break in Australian municipal issues to the lowest levels in more than a year. Norwegian funds moved up 6 to more than 12 points to around the best levels in a year to feature the upside.
Fairly heavy buying came into the domestic corporate section through the three pre-holiday sessions, mostly based on the strong action of stocks On Friday the list rallied on a late buying flurry prompted by reports the Allies had pledged themselves to a finish fight with the Axis.
Medium-priced rails, which had borne the brunt of the war-scare and tax-loss selling early in December, led the rally this week.
Rails jump 5 points
Prominent in this group were Illinois Central, Delaware & Hudson, New York Central, Southern Pacific and Southern Railway where gas ranged from about 4 to more than 5 points. Higher-priced and speculative issues had gains running to more than 4 points.
Oils and rubber company loans weakened in an otherwise firm industrial section, reflecting the new government order banning sales of new cars as well as on the disturbing war reports from the Far East. Firestone 3s plunged 7 points to a new low before meeting support.
In the utility division, communications were particularly strong on gains extending to nearly 6 points in the International Telephone issues and to about 3 points in the Western Union group. Power and light bonds generally had smaller gains.
Record food sales forecast for 1942
NEW YORK, Jan. 3 (UP) – President Paul S. Willis of the Associated Grocery Manufacturers of America predicted today that food sales will reach an all-time high of 15 billion dollars during 1942, topping the previous record set in 1941 by $2,225,000,000.
In a letter issued to all members of the manufacturers’ organization, Mr. Willis pointed out that his forecast would mean that 15 percent of the anticipated 1942 national income of $100,000,000,000 will be spent on food.
“The purchase of food offers one constructive safety valve,” he said. “Families should be encouraged to use a substantial proportion of their income to build better health through better food.
“The government is in full accord with this idea. Price Administrator Leon Henderson has recently urged consumers to buy more and better food with their extra dollars. A great national nutrition campaign is under way with government and industry working closely together to encourage the more extensive use of food.”
War has ‘limited effort’ on U.S. money markets
NEW YORK, Jan. 3 (UP) – The United States’ overnight shift from a nation at peace to a nation at war early last month had “only a limited effect” on domestic money markets and interest rates, the Federal Reserve Bank of New York said today in its monthly review of credit and business conditions.
“The shock felt by the government security market, for example, could not be compared with its reaction at the outbreak of the European war in September 1939,” the bank said.
“Of all the domestic financial markets,” it added, “the stock market alone showed more than a moderate reaction and prices of stocks, already depressed by year-end ‘tax sales’ and the prospect of still higher taxes, reached new lows since 1935.”
Although blind, man volunteers to help in war
Civil Defense Office tells of personal sacrifices
Little tales of personal heroism and sacrifice show up every day at the Civilian Defense Volunteer Office to swell the rising flood tide of American unity for war.
Some of them come from America’s adopted sons and daughters, volunteering to help the war against their native lands.
Others come from native Americans like James Jones, of 1029 Excelsior St., a blind man who has offered help the morale corps as an entertainer able to sing classic and popular music.
Foreign-born aid
The foreign-born are particularly common at the Civilian Defense Volunteer office. Unless they have final citizenship papers they can’t volunteer for the armed forces.
One man eager to help is Stephen Zelinikajtis, a native Pole who came to America for the first time in 1906. Two weeks after this war broke out his Polish-born wife and American-born daughter were killed in Warsaw.
His only other daughter is somewhere in Italy, in a concentration camp, he fears. She survived the bombing of Warsaw, got to Genoa, Italy, and was to have sailed for America on June 9, 1940. But Mussolini stabbed France on June 6, closed the Italian borders, and young Marie has not been heard from since.
Fought Bolsheviks
Because he is a student familiar with several European languages and served with the Polish Army against the Bolsheviks in 1920, Mr. Zelinikajtis thinks he could help in detecting spies and fifth columnists but is willing to do other work, too.
An ex-German soldier, who is afraid that publication of his name will bring reprisal against relatives still in Germany, wants to “do anything at all.” “I got out of Germany in 1938 because I didn’t like Hitler and he didn’t like me,” he explained. Part of his ancestral blood is Jewish.
The ex-soldier fought with the Germans against Russia and at Verdun, serving through four years of war. He’d like to do something against Hitler – anything at all because, as he explained, “there are a lot of Germans who hate Hitler more than you Americans do.”
Mrs. Ruth Morrissey, of 204 Colonial Apartments, Wilkinsburg, served with the Turkish Red Cross at Constantinople in the last war and is willing to help wherever possible in this war. One of her sons is a volunteer in the U.S. Army.
Frank Chriodo, 55, of 1026 Ivanhoe St., an ex-Italian Army officer, was so disappointed when told that he was too old to serve with the U.S. Marines that he broke into tears. He has a twin brother in Italy.
Ex-service man joins
Among the native-born volunteers are an amateur radio station operator, an ex-Army man who served with the Signal Corps in 1918, and an ex-Navy man who can speak three Philippine dialects.
A pigeon fancier, Clarence Ecroyd, 26, of 7724½ Alsace St., Brushton, wants to help the U.S. government register and classify all homing pigeons for use in detecting spies and as messengers for an emergency.
Would-be aviator almost goes to jail
BERKELEY, California, Jan. 3 (UP) – Donald V. Dobbie, a University of California accountant, nibbled at a crust of dry toast today, said he planned to scorn potatoes from here out, and announced pleasantly that he had reduced his weight from 203 pounds to 202 pounds.
The Dobbie diet stems from his determination to get into the Army Air Corps. He must take off 14 pounds, and he is confident he can do it. Last night it almost got him into trouble.
“There is a great pile of clothing moving up and down the street,” an excited woman phoned police.
Police arrived, grappled with the moving pile and peeled away coats and sweaters. Dobbie came into view. He explained his purpose. The police wished him well, helped him back under the covers.
U.S. State Department (January 4, 1942)
Arnold conversations with Hopkins, Roosevelt, and Churchill
Meeting of Roosevelt and Churchill with their military advisers, 5:30 p.m.