davidaulloa/AmericanStories huggingface dataset:
Evening star., 1924-05-28
RESERVE BANKS HIT
BY TRADE RECESSION
Continuing Business Trend Down
ward May Bring in Lowest Net
Earnings in Seven Years.
REVIEW OF APRIL AND MAY.
Decline in Factory Employment
and Basic Products.

Continuing recession In business
may operate this year to bring to
the federal reserve banks the lowest
net earnings in seven years.
This was announced by the Federal
Reserve Board In findings published
today, in which 1t was explained that
the downward trend had been appar-
ent since the beginning of the year.
had continued through April and
early May and forced earning assets
Of the twelve federal reserve banks
down to s795 100000 on May 81. This
was the lowest since the fall of 1917.
April and May Review.
The boards review Of business for
April and May showed a further de-
cline in factory employment and pro-
ductiOn of basic commodities, and,
coupled with this, a sharp decline in
borrowing for commercial purposes.
There was an easier money market
generally in the two months covered
by the boards summary, and this was
reflected In a further rise In the
prices of government securities; in a
reduction from Az to 4A per cent
in prime commercial paper and a de-
cline from to per cent in the rate
on bankers acceptances. The recent
reductlon from AZ to per cent In
the rediscount rate by the New York
Reserve Bank apparently had little
effect on the borrowings from that
bank, reserve board officials said.
Wholesale Prices Lower.
The lack of demand for goods was
shown in the reduction of wholesale
prices. which in April touched the
lowest point since 1922 and were
about l per cent lower on the aver
age than in March. Farm products,
however, showed an average increase
of 2 per cent. Metals and foods
dropped off, as did clothing, fuel and
chemicals, with building material
prices remaining practically un-
changed.
There was slight increase in the
volume of retail buying in April as
compared with March, but the board s
experts attributed that to Easter
purchases.
Production declines were especially
large in iron, steel and coal and in
the woolen industry. but mill con-
sumption of cotton in April and the
first week or two of May showed
less than the usual seasonal reduc-
tion.
building construction showed a
strengthening, with higher values in
March and, in April than a year ago,
nut the value of building permits, on
the other hand, declined sharply. with
the total lower than on correspond
ing dates last year.
Evening star., 1924-05-28
HARDWARE CHANGES FEW.
Conditions at Market Centers
About at Usual Stage.

NEW YORK, May %. = Hardware
Age in its weekly review of mark IT
conditions will say tomorrow:
Conditions in the various hardware
centers throughout the country have
changed but little during the past
week. Weather still seems to be the
determining factor in all jobbing
centers. The backward spring has
held up consumer demand for arti-
cles which ordinarily would now be
moving rapidly. This, in turn, has
naturally had its effect upon the buy
ing Of the retail trade. 1t is note
worthy that whenever a few clear
days occur that sales increase with
startling rapidity.
Generally speaking, retail stocks
are low. The retailers, however, are
only buying in hand-to-m mouth fash
ion. Jobbers are well supplied with
merchandise and are in position to
fill almost any orders in remarkably
short time. The same holds true with
respect to manufacturers deliveries
The manufacturers have the stock on
hand and are well able to take care
of orders. Railroad service has also
improved to degree where it is
possible to fill them rapidly. Price
changes are about on a par with
the previous week. The majority of
changes have been of a minor ma
ture, however, and are equally di-
yided between advances and reduc-
tions.
Evening star., 1924-05-28
COMMODITY NEWS
WIRED STAR FROM
ENTIRE COUNTRY

FORT WORTH, May 2S.-American
cattle men are pleased with the tight
ening of the restrictions against i'm
portation of Central and South Amer
lean cattle into Mexico, feeling that
these regulations will tend to pre-
vent passage of cattle diseases from
Mexico north of the Rio Grande.
ATLANTA, May 2S.-The demand
for calcium arsenate for fighting the
boil weevii is increasing and tenant
farmers in southwest Georgia are
threatening to quit their crops unless
land owners provide large quantities
of the poison. Cold, rainy weather
has started abnormally earlier than
last year. although the movement
is not general yet.
SAN ANGELO, May 2S.-The Wool
Growers Central Storage Company
of this place received over 45 cents a
pound for some eight months wool
recently sold Boston interests, and 49
These figures are the highest of the
season so far.
SEATTLE, May 2s.-It is feared
here there will be an almost complete
suspension of saving In the lumber
mills Of Washington June Is. For
the first twenty weeks of this year,
lumber production in the Pacific
northwest has been nearly per cent
greater than for any similar period
in history, while orders fell off almost
IL per cent from 1928.
ST. PAUL, May 2S.-The ST. Paul
Automobile Club is selling gasoline
to members at 1879 cents a gallon,
but while independent oil dealers
forecast a cut in price soon, the
prices to the general public have not
been affected in this city, although
some rural stations sold at Is cents
last Sunday.
ST. LOUIS, May 28-A resume of
the conditions in the shoe industry
of this city shows that a gross busi-
ness of S2OO,00O,0OO was done by
manufacturers here in the last year
RICHMOND, Va, May 2S-Seaboard
Air Line officials here stated today
that beginning June 15 special
trains operating on passenger train
schedules will rush the Georgia peach
crop to New York city. There will
be three or four thousand carloads.
PITTSBURGH, May 2S.-The pig
iron market continues very dull. No
sales of Valley Iron are reported and
consumers seem still to be very we'll
supplied for their reduced operations.
DETROIT, May 2S.-President
Wfllys of the Willys-Overland Com
pany announces the company has
decided not to increase prices at pres
ent since steel, copper and rubber
prices are still recedfng while actual
sales of Overland cars are the largest
in the company's history.
Evening star., 1924-05-28
STEEL DECLINE STEADY.
Less Production and Business Vol.
ume Noted by Iron Age.

NEW YORK, May 2s.-The month
just ending has seen an uninter-
rupted decline in the rate of steel
production and in the volume of new
business going to the mills" Iron
Age says.
I'm the past week, as in the week
preceding, the falling off in output
and in orders was much less pro-
nounced than in the first half of the
month; at the same time there Is a
lessening expectation of an early
change in conditions.
1.-The number of important pro-
ducers of steel operating on a SO
per cent basis Is larger this week
and steel ingot production for May
will be further reduced by general
shutdowns for the May 80 holiday
or on Saturday following"
Another drop in foundry pig iron
brings the Iron Age pig iron COM
Dosite price to s20.9S, the lowest point
in six months, and comparing with
$2S.79 one yeaE-ago,
Evening star., 1924-05-28
BOOM IN PORT BUSINESS.
Baltimore Report Past Week
Shows Recovery From Slump.

BALTIMORE, May 28 (SpeciaD,-
Recovering from the slump of the
preceding week, port business, as
shown by the weekly report of the
collector OF the port, was on the boom
last week. Exports, consisting
largely of solid cargoes Of steel and
copper products. sugar, lumber, ma
chinery and grain, totaled $1,S55,S7
against $661,095 for the previous
week.
Imports were swelled by whole
shiploads of ores, sugar, oil, fruit,
molasses and foreign manufactured
products, reaching a total of $2,484,-
77S. This exceeded the preceding
weeks showing by more than half a
million dollars. The increase was
largely due to heavy arrivals of
fruit boats released by settlement of
the strike of Cuban dock laborers.
Evening star., 1924-05-28
NEW YORK CURB MARKET
Received by Private Wire Direct to The Star Office

again in demand at higher prices,
while Hudson and Manhattan common
held firm around 16. Buying followed
publication of the report of opera
tions of the latter company during
April. This showed gross of 1,913,-
1894. against 1867 ,106 in 1923.
Dubilier Radio continued in demand
above So. The buying is said to be
in anticipation of increased earnings
from the new device known as the
Super-Ducon.
Among the high priced specialties
Borden & Co., sold higher. The rise
of a point in Commonwealth Power
and increased activity in Tennessee
Electric Power second preferred were
sympathetic with the better tone to
this class of stocks on the big board.
Little could be said of the move
ment in the oil group.
Evening star., 1924-05-28
RAIL WAY EARNINGS DROP,

BALTIMORE, May % (SpeciaI.-
Earnings Of the Maryland and Pennsyl-
vania railroad. both gross and net,
show decreases for the month of
April and the four-month period COM
pared with a year ago.
April gross was $S0,S33.77, decrease,
$2S3.25; operating expenses, $53,945.-
16; increase, $5,s2S.26; net operating
revenue, $26,sS8.61; decrease. $5,911-
81. Operating ratio for the month as
1874 per cent; increase, 7.18 per cent.
decrease of $6.150.49; operating ex-
penses, $192, ,7S0.95; increase. $S,2S2.12;
net operating revenue, $8S,420.16; de-
crease, $14,432.61. Operating ratio for
the period, $3.50; increase. 4.35 per
cent
Evening star., 1924-05-28
NEW YORK DRY GOODS.

NEW YORK, May 2s fspeciaD.-The
decline in the raw silk market, started
week ago. continued today, prices
of Japanese grades falling off in
most cases 10 cents a pound and in
the others 10 cents. Cantons were
off cents. The cotton goods markets
continued quiet but showed strength.
The 6s by ~ print cloths were up X
cent 1Oas. The 64 by 60 were steady
at 81.
Evening star., 1924-05-28
SWEDEN'S IMPORTS LARGE
Exceed Exports by $17,420,000 in
April, Is Report.

STOCKHOLM. May 2S.-Sweden's
imports during April exceeded her
exports by 65.000,0oO kroner or about
SIT 100000, the major part of the i'm
port surplus being due to heavy i'm
ports from America, especially of au-
tomobiles and mineral oils. At the
same time the exports to America
were larger by 100000 than in
March. the principal items being
wood pulp, iron and steel and paper.
Evening star., 1924-05-28
Delaware Company Exempted.
N. & w. Silent on Lease.

PHILADELPHIA. May 2s.-The
board of directors of the Norfolk and,
Western Railway held its regular
meeting here today, but did not give
out any information regarding the
proposed lease of the Norfolk and
Western by the Pennsylvania rail-
road. Directors of the Pennsylvania
will meet tomorrow.
Evening star., 1924-05-28
BY WILLIAM r. HEFFERNAN.
Received by (

Special Dispatch to The Star.
NEW YORK, May 2S.-Trading in
the curb market continued small and
the general body Of bonds moved
with indecision
Todd Shipyards jumped points
between sales, getting up to 4S again,
despite the unfavorable showing in
the report for the year ended March
81. This disclosed a deficit of $685.
S74. but compared with a deficit of
$S93.56S for the previous year. The
jump of 3 points. however, was as
cribed to the fact that the shipping
industry has been showing substan-
tial Improvement.
Hudson Company preferred was
Evening star., 1924-05-28
A Fool and HIS Money.

The fact that a stock certificate In
printed in fancy green scroll work Is
no proof that 1t is worth any more
than ordinary wallpaper. Thousands
OF people in Washington would have
saved their money IL they simply had
asked their banker to tell them what
he knew of some supposedly wonder
ful Investment.
Evening star., 1924-05-28
COCA COLA COMPANY
SUED FOR $6,833,449
q. S. Claim for Unpaid Taxes
Against Georgia Corporation,
Present Owners Not Involved.

ATLANTA, Ga, May 28-The suit
filled by the government here yester-
day against the Coca Cola Company
for $6,S33,47o.62 for alleged unpaid
income and excess profits taxes in
1919 and penalties. is diverted at the
old Georgia corporation, and in no
way involves the concern that now
is being operated, according to state
ments from company officials
The present company was chartered
under the laws of Delaware.
The Georgia corporation sold its
assets in 1919 to the present company
for s25.000,0o0. The government al
leges that the Coca Cola Company
pald income and excess profit taxes
OF $l,o48, 1S4.09 for the calendar year
ending December 81. 1919, when s6,-
103.S30.50 should have been paid
The petition sets forth that addi-
tional taxes of s4,555, ,646.41 are due
as also is s2,277,s24.21 representing a
D per cent penalty for alleged filing
or fraudulent and false return. The
total of these two items, plus inter-
est at the legal rate from March Is,
1870, Is sought by the government.
Statement by c. ii. Gambler.
A formal statement issued by
Charles II. Gambler, president of the
Coca Cola Company, a Georgia corpo-
ration, follows:
MY attention has been called to
the suit filed by the United States
government against the Coca Cola
Company, the Georgia company, due
to federal tax assessment for the
year 1919, which is based on the
assets of the incorporation.
AT the outset, it is only fair to
say that this suit can in no way in
volve the Coca Cola Company, the
Delaware corporation, which corpora
ton is now being operated and selling
the product coca cola. The Delaware
corporation was purchaser for
value of the entire assets of the
Georgia corporation.
Delaware Company Exempted.
1t happens that both companies are
of the same name. but the Delaware
corporation. having purchased the
entire assets of the Georgia corpora
tion for value, could not be RESPONSE
BILE for this tax.
"As president of the Georgia cor
poration l want to say the tax re-
corporation was made by a person
who was recommended as being an
expert accountant and that company
depended upon this tax expert to
make a correct return. 1t was but
fair to add that neither our ac-
countants nor the attorneys repre-
senting the company had anything to
do with this return.
Il have not yet seen copy of the
suit that was filed and therefore
cannot discuss the merits of that suit"
Evening star., 1924-05-28

NEW YORK. May 2S.-Following is
an official list of bonds and stocks
traded in on the New York Curb
Market today:
Evening star., 1924-05-28
Washington Stock Exchange

SALES.
Capital Traction 5s-s1 900 at 97a, 81, 200
at 97h, $1,000 at a71a.
Merchants b. & T. Co.--1O at 13O1a.
Mergenthaler linotype at 154.
AFTER CALL
Capital Traction Co.--3 at 90.
Washington Rwy. & Elec. $500 at 1914
81, 900 at 7Sl4.
Money-Call loans. 5 and per cent.
Bid and Asked Prices.
BONDS.
Evening star., 1924-05-28
Money to Loan

Secured by nrst deed of trust real estate.
Prevailing interest and commission.
Joseph l. Weller sis.'' saH wash; sas l. NrTs' N%
Evening star., 1924-05-28
MOVING. PACKING & STORAGE.

For Your Hauling Storage and Grating. Call
The Connectie-t Storage 4 Express Co.,
sos H St. NE.
Estimates Given. Phone Line. 2523
Evening star., 1924-05-28

= Superior OIL War Z 425 42a 421
Z Wilcox Oil & Gas. 5ss 5S 5Ss
I WOOdley Pet ...... 1925 II 12A
Evening star., 1924-05-28

RICHMOND, Va, May 2S.-Seaboard
Air Line officials here stated today
that beginning June Is special
trains operating on passenger train
schedules will rush the Georgia peach
crop to New York city. There will
be three or four thousand carloads.
Evening star., 1924-02-20

Agnes Straub and Elizabeth Berg
ner-but says they are all compelled
to fall back on old standard plays
and to move from theater to theater
In order to find opportunity to dis
play their varied talents.
Says Public Is Dlssusted.
Fechter says the German public is
tic style of modern dramas and is
turning back to nature and life. The
return of the young dramatistS. Bert
Rrecht, Arnolt Bronnen and Alfred
Brust, to the natural presentation OF
the lives of men and women is a
hopeful sign, in Fechters opinion,
although he confesses that the work
of these dramatists is rather crude
He thinks the German novelists. such
as Jacob Wassermann and Thomas
Mann, and the poets, Stefan George,
Franz Werfel and Carl Sternheim.
give a far more truthful picture of
the spiritual life Of Germany of to-
day than do the dramatists
Leopold Jessner, director of the
State Playhouse in Berlin. is OF the
opinion that the German theater Will
do well to battle against the Ameri-
can star system and devote itself to
ensemble work. He says many Ger
man actors prefer artistic standing to
great salaries, and in this spirit, he
believes, the German theater will find
a great asset for it's development.
Hard Blow to Theater.
The lack in Berlin audiences of for
eigners from countries where the ex-
change is good was a hard blow to
the German theater in 1928, as well
as to the cinemas. Unemployment has
been great in theatrical circles. Ac-
tors and actresses have taken up side
professions and not a few have been
compelled to avail themselves of
meals offered in various centers to
professional people in reduced cir
cumstances. Many actors have de-
Evening star., 1924-02-20

serted the legitimate stage and gone
into vaudeville and cabaret work,
which is far more remunerative tha N
the legitimate stage.
But members of companies in the
state theaters and operas are not al
lowed to supplement their wages by
engagements in variety houses and
cabarets. Some of them have been
permitted to accept engagements in
the moving pictures. but the produc-
ing end of the moving picture indus
try has recently taken terrible
slump in Germany. Costs of produce
tion got above world costs, and there
was so much imitation in the trade
that not long since 1t collapsed.
Evening star., 1924-02-20
CARLOAD OF LIQUOR
SEIZED IN DENVER
Police Say 100000 Shipment
From California Was on Way
to Cleveland, Ohio.
By the Associated Press.

BY the Associated Press
DENVER, Col, February 20.-A re-
frigcrator car. shipped from some
point in California" and containing g
bonded liquor estimated by police to
have Il value of approximately $780,
600, was placed under heavy police
guard when it reached the railroad
yards here late last night. The car
was consigned to Cleveland, Ohio.
Police refuse to give the name OF
the consignee.
The car will be turned over 10
federal prohibition agents today.
Fred Reed. police sergeant. who
has been watching for the car for
several days, said that the shipment
was billed as notwithstanding in 6
wine"
Seals on the car doors had not
been broken early today, but police
who surveyed the contents of the
car through a door in the roof said
that they believed the Car contained
at least 1000 cases of bonded liquor.
The police declared two other cars
of liquor have been shipped through
Denver recently, rum ring national
in scope having been shipping
through this city for many months.
Evening star., 1924-02-20

spin to faro bank and roulette with
sky-high limits can be found without
necessity of hunting.
Completes With Paris.
The theory of the tilted lid" is that
if Reno can compete in wick edness
with Paris, and in the same process
furnish amusements and divertise-
mentS that cannot be found elsewhere
this side of the Atlantic, eventually
its divorce colony will bloom again in
its former pristine glories.
The sad part of it-for Reno--is
that the rest Of Nevada is not in sym
pathy with the comeback movement.
In fact, if opinions voiced by resi-
dents of other parts of the state are
an indication of coming events. the
next session of the Sagebrush leGis-
lature may make drastic changes in
Nevada's present easy" divorceIaw.
In the sixty years Nevada has been
in the Union. 10000 more divorces
have been granted than there are peo- :
pie in the state. the score being $4,000
people to $1,000 divorces. 1t is be-
cause q lot of people outside the state
read these divorce statistical! figures
wrong that a big percentage of Ne
NadanS want the present divorce laws
changed. Newspapers in other states,
they aver. poke fun at them by as
serting that everybody in the Sage
brush state has been divorced at least
once and sometimes twice.
Evening star., 1924-02-20
RENO STRIVING HARD
! TO REVIVE DIVORCES
Nevada City Staging All Sorts Of
Naughty Lures to Offset
Paris Charms. =.
REST OF STATE SHOCKED
Business Falls Off as Marital Trou-
REST OF STATE SHOCKED
Special Dispatch to The Star.

Special Dispatch to The Star.
RENO, February 20.-A stirring
Grama-a drama with business" as
its motif-with rocks and sage brush,
rugged mountains and open spaces,
as its background, and with hotel
and apartment house owners and
lawyers as characters with speaking
lines. is being staged just now in
this far western state. Although as
yet it has no high-sounding and
euphonic title, a perfectly appro-
pirate one might be Bring Back the
Divorcees-or Reno versus the Rest
of Nevada"
The drama centerS about Reno'S
easy" divorce mills, the recent popu-
1arity of Paris as stamping ground
for the divorce rich, the eff
forts of Reno to WOO them back, and
the opposition of d lot Of NevadanS
outside of Reno to restoring their
picturesque state to its former pre-
cminence in divorce statistics.
In Slough of Despond.
Just now, divorcially speaking,
Reno is pretty much in the slough of
despond. Where five years ago it's
busy divorce courts were grinding
out $500 to 5000 DEGREES year since
1918 there has been Il steady and
alarming ldlllnS OH. Last year the
total of legal severances among in
compa tible couples was only 7S9-an
average only slightly better than two
a day.
Now Reno is trying to do a come
back. In its efforts to lure back the
rich divorce seeking element, which
formerly contributed SO much toward
its business prosperity, it has taken
off the lid" Hotel and apartment
house owners, whose prosperity ebbS
and Swells with the divorces king
tide, and lawyers who for a fee act
as guides through the legal maZes
that lead to restired single blessed
ness, are behind the movement.
The advertisements offered are
many and varied. Most of them, how
ever, hark back to the wild and wool
ly days of wine. woman and song
for most Of Nevada. If not Reno it
self, is still quite wild and woolly. 1t
yet boasts rowing bands of wild mus
tangs. eminent citizens who pack six
guns, and an Indian population which
runs largely to blankets, loin cloths
and Fords.
Plenty of Liquor.
There is slight variation from the
"uine' part of it. though. Pre-Vol- :
Steadian beverages to be bought here
are much stronger. Much Of 1t is the
genuine 'old stuff" Where it comes
from is mystery. But it is served
openly over bars Of local wetteries
and nearby roadhouSes. with no in
PRODUCTION, admission cards or secret
Passwords necessary.
AS for gambling, the lid also has
been taken off. Any kind of d game
from slot machines at four hits a
Evening star., 1924-02-20
BOXING LAW REPEAL
URGED BY LEGISLATOR
New York Assemblyman Protests
Licensing Rings Where Killing
Is, Done "With Impunity."

BY the Associated Press.
ALBANY, n. Y, February 20.-"The
Diamond brothers killed a bank mes
senger for money, Bud Taylor killed
frankie Jerome in a prize ring for
money. What is the difference?"
Putting this question to the men,
bers of the assembly judiciary COM
mittee yesterday afternoon, Assem-
blyman Bert Lord of Chenango
argued in favor of his bill to repeal
the boxing law and abolish the state
athletic commission.
After they had killed the bank
messenger" he said. the Diamond
brothers went to a prize fight, their
favorite resort, where they had
learned that human life could be
taken with impunity under the pro-
lection of the boxing law.
Il am not SO much concerned about
the number that are killed in the
ring; the real damage done by prize
fighting is its brutalizing effect on
thousands of young men. con-
tend that such instances tend to make
professional boxing a stench in the
noStrilS of good citizens