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August 16, 1936

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Headlines from August 16, 1936

CITY SOON TO BEGIN TUNNEL TO QUEENS; $58,365,000 Project Will Be Started About Sept. 15 and Completed in 1940. ELABORATE TRAFFIC PLANS Provision Made for System of Entrance and Exit Plazas on Manhattan Side. 4,300 WORKERS REQUIRED Plans Pave Way for Link to a Future Crosstown Bore and Tube to Brooklyn. CITY SOON TO BEGIN TUNNEL TO QUEENS

By Unknown Author

Work on the Queens Midtown Vehicular Tunnel under the East River will begin about Sept. 15 and will be completed in 1940, the New York City Tunnel Authority announced yesterday. At the same time it made public the details of a tunnel plan bearing its official approval.

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BANKS ACT TO END DOUBLE LIABILITY; Many Give Notice, as Required by Nullifying Act, of Change July 1, 1937. PROVISION LACKED WORTH 90-Year-Old Stockholding Law Was First Applicable Only to Note-Issue Houses.

By Unknown Author

In conformity with recent legislation, local banks and trust companies have been publishing notices of their intention to terminate the double liability attached to their shares, effective on July 1, 1937. More than a third of the State-chartered institutions concerned have issued such notices, as have numerous national banks.

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U.S. Trade Pact With Russia Is Protested; Manganese Mines Here Seen Threatened

By Unknown Author

Protests to Dept of State that trade treaty with USSR is illegal

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ALONG WALL STREET

By Edward J. Condlon

The stock market's professional following elected to take profits last week, with a resultant decline in share prices that sent the average level back to where it was in mid-July. The fact that the trading volume was slow at times attested to the fact that little if any liquidation of investment holdings took place.

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