davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27

to exercise unusual caution in
accepting as collateral certain
stocks which have been abnor-
mally doomed.
Utility Probe
The probability is that immed-
lately after the turn Of the year
Washington will attract more at
tention. Apparently the radicals
are going to succeed in their
demands for one more probe, this
time into public utilities
Oratorical fireworks probably
will be indulged in. but it is inn
probable that anything really in.
furious to the Investments of the
millions who now own public
utility securities will be sanctioned
by Congress.
Very important decisions must
come before long from the Inter-
state Commerce Commission. Will
large.scale railway consultations
be sanctioned or rejected? Thus
far the commission has been OBJ
structive. Then, the Federal
Trade Commission is about ready
to uncover various reports on in
vestigations it has been conduct
ing.
And, of course, presidential poll.
tics will come more prominently
to the front.
Avalanche Of Optimism
Sentiment during the next two
weeks doubtless will be helped
somewhat by the customary ava
lanche of optimistic forecasts.
The country will be assured by
Government officials, financiers,
bankers industrialists, merchants
and other leaders that we are sure
to emily prosperity during 1928.
All this can scarcely fail to have
some favorable influence.
And, indeed, there is little rea.
son for taking other than a rea-
sonably hopeful view of our gen.
eral business prospects, particu-
larly in view Of the increase of
$685., 100000 in crop values this
year over last years, our healthy
foreign trade outlook, the prevail
Ing high wages in most industries.
the continued building activity to
satisfy the widespread demand for
better living conditions, the assur-
ance of interest rates around
present levels or only moderately
higher: our very light inventories,
our prospects for friendly relations
between employers and employed,
the gain in savings deposits, etc.
But all this is no guarantee that
the hectic speculation in many
stocks will continue without inter-
ruption. 49,.
Copyright, 1927. by b. C. Forbes)
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27

-NeilHeE aggregate business
profits for the year nor the
total physical volume have
moved in accordance with the
course of speculative security
prices. With business profits
probably one-seventh lower than
in 1926, stock prices have
recently climbed to unprecedented
peaks. Despite the irregular re-
cession in general business from
last years abnormally high levels,
industrial common stocks are SELL
ing "a per cent higher than a
year ago, and railroad shares II
per cent higher. The class
railroads will probably earn 8
per cent less than in 1926, and
slightly less than in 1925.
Stocks No Thermometer
One distinguished Wall Street
banker, who has been unsympa-
thetic toward the recent bull
movement in securities, was asked
which business was most osper-
Gus in 1927. He replied ''the
stock business.
His interrogation countere
Don't stock prices reflect activi-
ties in all other industries?"
The banker rejoined: "They used
to, but seemingly not any more.
Wall Street is peopIed by eternal
Peter PanS-children who never
grow up. The speculative com.
munity now assumes 1t amt
gonna rain no more 1t has
ceased to study economic facts
effectively, and is now seeking
reasons to justify its optimism.
The extent of the current bull
movement is a question for psy-
chologists--not economists"
Possibly his was the pessimism
of sold-out bull!
Will to Speculate
The will to speculate is grow
ing, not diminishing. 1t has be-
come nationwide. The great
whirlpool of speculation in Wall
Street, where hopeful souls stake
their savings on lunches, guesses,
and vague imaginings, is now
drawing funds from every nook
and corner in the land. At the
moment the crowd is all running
Al oIlO ENlAOhs
If the speculative mind has not
focused it's attention during 1927
primarily on business profits and
trade volume, what has it con-
sidered?
Obviously, it has been impressed
with the plethora of credit
available to finance speculative
exploits. Business resisted the
temptation of easy money, but
the securities markets have
drawn to an increasing extent
on banking funds. Accordingly,
brokers' loans are higher than
ever before. The potential supply
of credit is still enormous, de-
spite the recent gold exports.
However, some of the more con-
sentative bankers are beginning
to scrutinize Wall Street loans
with greater care, refusing to
accept the high current market
valuation on some of the less
substantial stocks.
Recognizing that its security
loans in recent months have
grown out of all proportion to
commercial loans, one Wall Street
hank If cutting down on brok-
erage loans in order to get a
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27

more symmetrical balance sheet
position.
Ignoring the immediate trend
of earnings, the speculative mind
has sought to determine the
average income producing capac-
ity of a corporation under pres
ent stabilized postwar conditions.
Furthermore, with long term in
terest rates-the wage on capital
declining-there has been a re-
vision of the rate at which the
public has been willing to cap
italize such earnings in stock
prices. Buyers have been ready
to take stocks on the basis of
relatively lower earnings on
market price.
this new era of long term pros
perity, the swings of business
will be on a comparatively high
planned activity. They contend
that Americas dominant gold
boards, her leadership in world
banking and trade, her skill in
mass production, and scientific
distribution will obviate the
panics of pre-war days.
New Public Attitude
AS a matter of fact the absence
Of a sustained setback in the
stock market since 1922 reflects
the lack of any cause for necessi-
tous selling of securities by hard
pressed business men in need of
cash.
Another major influence has
been new attitude on the part
of the financial public toward the
commodity price level. Until com.
paratively recently. there was
widespread doubt as to whether
prices would sink back to the pre-
war level. Much of the recent
considered speculation for the
rise has been based on the as
sumption that the new stabilized
commodity price level will remain
about SO per cent above the pre-
war standard and that common
stockholders will be the chief
beneficiaries of the higher money
incomes of corporations. Accord
ingly. a revalorization of common
shares in the light of the new
commodity price, or cost of living.
standard, has been going on. Dis
corning observers made up their
minds as to this issue several
years ago, but gradually increas-
ing numbers have been convinced.
If stock prices rose in 1927 while
business receded moderately, what
will they do in 1928 il the widely
expected squirt in trade takes
place?
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27
LEADING
MARKET Up

BY International News Service
NEW YORK, Dec. 27.-United
States Steel and General Motors led
strong upward movement in in
dustrial stocks at the beginning of
trading today. The New York City
Gas and Electric Lighting stocks
forged ahead in active buying, and
most coppers reached higher level.
Good buying was in evidence in
popular motor shares. including
Nash. Hudson and CHI. ysler. Oils
constituted the outstanding weak
spot.
Speculative interest in u. S.
Steel was stimulated by reports
that the directors at their meeting
today would designate new heads
for the three important posts left
vacant by the death oE Judge Gary.
Wall Street has also heard a pos
sible new split-up of the stock. but
this is not likely to take place until
late in 1928. IL then.
General Motors was boosted to
above 139 on the strength of it's
new Chevrolet car. which will make
it's bow to the public on Monday
next.
A number of high grade dividend
payers in both railroad and in
dustrial departments were actively
bought in anticipation Of the usual
reinvestment demand after the turn
of the year. The 5 per cent call
loan rate checked the forward move
in all sections however. and the
list turned irregularly downward.
Stiffening of the call rate was a
reminder that the money market
will be somewhat cramped this
week.
Cotton and grain markets were
steady, though British holidays de-
Elected foreign buying of American
commodities. Copper. sugar and
rubber inactive but firm. Foreign
exchanges were steady, with con-
tinental European markets dull and
generally unchanged.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27
CHICAGO LIVESTOCK

CHICAGO. Dec. 27-Live Stock:
Hogs-Receipts, $4,000; market,
steady. Top, $S.S5: bulk. $3.50
S.75; heavy weight. $S.25@S.S5;
medium weight. $S.15@S.75; light
weight, $7.75@S.5o; light lights,
$7.50@s.25; packing sows, $7.25@S;
pigs, $6.75@7.6O: followers, 1000.
Cattle-Receipts. $4,000; market.
strong to Csc higher. Calves: re.
ceipts. $500; market. steady. Beef
steers: good and choice, $16@1S;
common and medium, $S.50@15;
yearlings. $S.50@1S. Butcher cat.
tie: heifers, $s.5O@12.5O: COWS. $50
1880: bulls. $6@9; calves, $1O.5O6
1850; feeder steers. $S5O611.25:
stocker steers. $7.5O@10.25; stocker
cows and heifers, $4.50@8.
Sheep-Receipts, 10000: market,
steady. Medium and choice lambs.
$13.25@1S.50; culls and common.
S10@11.50; yearlings, $9@11; com.
mon and choice ewes, $4@7; feeder
lambs, $12@1350.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27
TOWN GUARDED,
s DIE IN RIOT .
BY international News Service

SOUTH PITTSBURGH. Tenn,
Dec. 27.--Adj. Gen. w. C. Boyd, Of
the Tennessee National Guard. to.
day assumed command Of the Stats
militiamen who are patrolling the
streets here following the shootings
Christmas Day which robbed this
little town of all its law enforce
ment officers.
The shotings Sunday night, eli.
making months Of bitter feeling be-
tween the sheriff's forces and the
city marshaPs officers over the
open shop policy adopted by a local
stove factory, resulted in the deaths
of Sheriff Coppinger and a deputy,
and Chief of Police James Common
and three policemen. Two others
were wounded.
No inquest will be held, as the
coroner is said to have declared
that none was necessary.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27
SPORTING BookkeeDer
Held in $50. 600 Theft

NEW YORK. Dec. 07.-wiIliam
Prepislc. 2e wears old. for fhe past
elk wears office manager and head
hookl,Aener of Rionev & Co. candy
manufacturers BrookIvn. wac ar.
rested arH arraigneA IN the Gates
avenue Court in brooklyn on a
charge Of prand larceny.
During five wears. according to
detectives. he emhazzled about $50. :
900. Gambling. horse races and
night clubs took all his salary. the
detectives said he confessed to them.
and he required the embezzIed
sums. 1t is alleged. to recoup.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27
William w. COrcOran
Memory Is HOnOred

The National Theater was the
scene this morning of public
meeting in memory of William w.
Corcoran, under the auspices Of
the National Welfare Association.
The National Theater site was
selected by Mr. Corcoran and he
had much In do with ITS original
establishment.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27
J. P. Morgan Named to
Head Steel Directors

NEW YORK, Dec. 27-New Of
ficers of the United States Steel Cor
poration are expected to be chosen
at today's meeting OF the board of
directors. According 70 rumors in
circulation in the financial district
this morning, the new officers will
be:
Chairman Of the board. Pier
pont Morgan.
Chairman of the finance commit
tee-Myron C. Taylor.
Chief executive officer-James A.
Farrell
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27
ST NEWS AND QUOTATIONS OF THE FINANCIAL MARKETS
CHICAGO GRAINS

CHICAGO, Dec. z7.--Grains opened
lower today; wheat was Nc lower
to &c higher. Corn 4 to 1Ac lower,
and Oats x to &c lower.
Opening grain quotations today
were:
Wheat-December. 81 PAY; March
s1.27h TO $1.27A: May. $1.2s5k to
$12s%: July. $1.24K.
corn-December 80 to s0kc:
March. s4ss TO s41sc; May, s7sS to
SIC: July, S9x.
Oats - December, none: March,
52Bc: May. 54A; July. none.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27
AcOsta's Indigestion
Puts Off Test Flight

ROOSEVELT FIELD. N. Y, Dec.
27.-An attack of Indigestion suf-
fered by Bert Acosta today caused
postponement until o'clock to-
morrow morning of the attempt to
set world endurance flight record
by Acosta and his co.pilot Emile
Burgin.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27
BANKRUPTCY PLEA FILED

Listing his debts at $685. and
assets at s1.679. Herbert C. Myers.
operator Of a general paint store
at sos Tenth st. N. W.. today pc
titioned in the District Supreme
Court to be adiudged a voluntary
bankrupt.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27
Farrell to Succeed
Gary Is Belief
BY B. O. FORBES

Before todays goes down extremely interesting
may from the directors meeting Of the
United States Steel Corporation.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27
Stock Market Neued
For Coming Year
BY MERRYLE STANLEY RUKEYsER

NEW YORK, Dec 27.-The stock market during most Of
1927 has seemingly declared its independence of business
and has behaved in accordance with its own laws
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-12-27

INSIST--On the delivery of your
Times or Herald every day. IL
you do not get your Herald by
a. M, The Times by 5 p. m.
or The Sunday Herald by 8
a. nl.. call Main $500. Delivery
il guaranteed and your copy
will be sent you Immediately
from The Times Company Office
by special messenger.
The Indianapolis times., 1927-07-23
Great Co14nte1Jeiter Is
Broken Caught Again

no comparison with his former
work.
"In the old days Blease was a
tall, fine looking man of command
ing appearance. Now he is old and
broken.
1.-THE last time 1 saw him was a
few years ago when he visited my
office. I just got in town and knew
you would find it OUT he told me-
Thought I had better drop in and
tell you am not going to pass any
bogus money so if any is passed you
won't blame 1t on me- He kept his
word" Captain Halls said.
Blease Is Silent
Quietly smoking his pipe, Blease
refused to comment on his reasons
for continuing to raise bills after
serving numerous prison terms.
IT think I can tell why he does
it," Captain Halls remarked. "He
was penniless, had no place to CO.
nothing to look forward to, and just
.drifted into the easiest way of
getting along"
Blease pleaded with officers not to
divulge the names of relatives here,
saying they we're respectable citizens
and he did not wish to injure their
regulations.
The Indianapolis times., 1927-07-23
CABLE TO seek
GOVERNOR Chair
AS INDEPENDENT
Platform viii Be Abolition of
G. O. P. BosSism and
More Efficiency.

E. Howard Cadle, 5207 N. Me-
ridian ST., founder of Cadle Taber-
nacle and a Republican primary
candidate for mayor of Indianapo-
lis in 1925, announced today that
he would seek the governorship on
ar Independent ticket.
"Stephensonism was the cause of
my withdrawal from the Indian
apolis mayoralty race, and the same
thing is bringing forth this an
nouncement Of my candidacy for
Governor on an independent ticket"
Cadle stated.
Steve Promised Support
"I was promised the support of
D. C. Stephenson for mayor if I
would permit him to boss the job
after I got it. Instead, withdrew
from the race.
MY gubernatorial platform will
be abolition of Republican bossism
and increased governmental eff1-
cheney. feel that the State busi-
ness should be run like that Of a
great corporation.
although my father was the only
Republican in Washington Town
ship, Washington County, and /
have been a member of the party
all my life, feel that Indiana party
organization has gotten in the hands
of persons SO far from the principles
of Abraham Lincoln that it is time
to withdraw and run Independently" :"
Was Game Commissioner
Cadle held the Office of State Game
Commissioner under Governor Han
ley, 1904-8.
He organized the American Shoe
Rebuilders from a $4,000 to $1,000
900 corporation with twenty-five
stores in seven states.
The Cadle Tabernacle he built IN
memory Of his mother An ardent
Christian, he had the place dedi-
Gated by Gypsy" Smith, the
evangelist.
The Indianapolis times., 1927-07-23
STORE CROWD
WATCHES man
SHOOT Wife
Threatens Throng With Gun
As He FIeeS From Scene
of Killing.

TROY, N. Y, July 23.-In the
presence of hundreds of shoppers,
Bert Almond, 80, a chauffeur, shot
and killed his wife in crowded de-
partment store here Friday, as she
was purchasing a pair Of gloves.
He sent five bullets into her body.
Then dashing into the street, he
attempted to reload his revolver,
yelling that he would shoot his way
through the crowd that gathered.
Three traffic policemen stationed
at near by intersections heard the
report of the shots and converged
on the store. AS Almond was slip
ping a cartridge into the chamber,
one of the police knocked the re-
volver from his hand and arrested
him.
Several hundred shoppers were in
the store at the time Of the shoot
ing, in addition to nearly one hun
dred clerks. Several tainted.
Almond and his wife had not
lived together for several years.
They had three children and she
worked as stenographer to sup
port them.
The Indianapolis times., 1927-07-23
GROCER ROBBED
OF $4,000 BUT
SAID NOTHING
Sheriff Hawkins Joins
ProberS of Strange Un-
reported HoId-up Case.

Sheriff Omer Hawkins today
joined Morgan County authorities
in an investigation into why Phillip
Bernstein, wholesale grocer of
MooreSville, waited twenty-four
hours to report to the sheriff OF
Morgan County that he was robbed
of $4,000.
According to Bornstein's story, he
and his wife withdrew $4,000 from
the Continental Bank here Thurs
day. At about 3 p. m. Thursday, as
they were driving toward Moores-
vile, near Mars Hill, two men
jumped out of the bushes on the
running board of the car, beat them
with revolvers and took the money,
according to Bernstein.
Learned More
In addition to this story, Sheriff
Hawkins who went to Mooresville
to talk with Bernstein, said the
authorities have these facts:
The BornSteinS did not get to
their home in Mooresville until after
6 Thursday evening. About 5:4o
Thursday afternoon neighbors saw
someone ransacking the Bornsetin
residenct but thought nothing of it
because unusual things had hap
pened there before and strangers
had been seen about.
The Bornsteins reported nothing
was taken from the house. A $500
locket of Mrs. Bornstein's, although
easily accessible, had not been
touched.
Road Much Used
The section of road where the
Bornsteins say they were robbed is
heavily travelled about 3 o'clock and
houses are thick along it.
Sheriff Pcynter of Morgan County
got his first word of the robbery
from a doctor in Mooresville, who
dressed the bruises and cuts of the
Bornsteins. The sheriff went to the
Bernstein home and had to get the
information about the robbery by
questioning the victims.
The Indianapolis times., 1927-07-23
PHONE EMPLOYEES GIVEN
GOLD SERVICE BUTTONS
Twenty Three City Workers Award
ed EmbIems by Company.

i ed EmblemS by Company.
Twenty-three indianapolis en-
ployes of the Indiana Bell Tele-
phone Company received gold serv-
ice buttons in June.
Fred Prout, 3639 Graceland Ave,
of the plant department, received
the emblem denoting the longest
service-twenty years.
All employees receive gold buttons
at the completion Of each five years
with the company.
Forty-one emblems were awarded
in Indiana. B. J. Walz of Evansville
headed the list with twenty-five
years Service.
indianapolis awards are: Ten
years, Winifred Remington, COM
mercial department; Dewey B.
Weaver and william Yoh, plant de-
partment; Mildred Bailey, Tessie
Heacock, Helen Kennedy, lone Nc
Kinney and Mary Shirley, traffic de-
partment. Five years, Clay M.
Turner and Mary Huey, accounting
department; Charles A. Pfieiderer,
.Jr., engineering department; Mary
Ryan, commercial department; Joe
Denny, Carl j. Huesing, Charles Ma
honey and Durbin Williams, plant
department; nellie Brummett, Louise
Harmon, Eva Rains, Mary Stenbar-
GER Grace Tootikian and LEROY A.
Wilson, traffic department.
The Indianapolis times., 1927-07-23

singing and leading churchmen Of
the Statae will participate.
Choral singing will be led by the
Rev. and Mrs. v. P. Brock. The
Rev. o. A. Trinkle, the Rev.
Ephraim Lowe and the Rev. U. S.
johnson will lead devotionS.
Formal Conservation
Mr.. Smith will preach brief
sermon from the stump and the
Rev. G.. I. Hoover will conduct the
formal conservation service.
Miss Martha McDougal and
Everett K. Todd will sing.
Federal Judge Robert c. Balt-
zell, Hilton u. Brown, Butler
trustee; the Rev. w, A. Shullen-
berger, DR.. F. D. Kershner, James
Lowery, the Rev A. H. Moore and
DR.. o. S. Jaquith will extend
greetings.
No announcement has been made
of building plans. The church
will be designed to meet the Uni
versity community needs.
The Indianapolis times., 1927-07-23
ACCIDENTS KILL
SEVEN IN STATE
Crossing Crash Accounts for
Four of Toll.

Seven persons are dead in Indiana
today, victims of accidents. Four
of the number were killed in a cross
ing crash.
When a South Shore electric train
struck an automobile at East Chi
cago, it brought death to Harry
Hook, 80, Gary; Robert Adams, 81,
Gary; Albert Webb, IL, Negro, In
diana Harbor, and Lillian Adams,
his mother. Grace Parker, Is, Ne
gro, Gary, was seriously injured.
Floyd Miller, TO- Homer, Indiana
Bell Telephone Company employee.
was electrocuted and John McFall,
Bloomfield, and James Lamb, Foun-
taintown, severly burned when a
telephone pole they we're resetting
came in contact with a high tension
wire. The accident occurred near
Rushville.
Charles Rice, so, Monon, died of
injuries when his head was crushed
by boulder while he was working
in a stone crushing plant.
Delma R. Nashby, 13, daughter Of
Mr.. and Mrs. Clyde Nashby of Flori-
da, station, three miles northwest
Of Anderson, was drowned in White
River while swimming near the Big
Four railroad bridge at Anderson.
Thomas Morano. II, who was swim
ming with Alice Hairless, 16, and
the Nashby girl, tried to rescue them
when they began struggling, but
succeeded only in saving Miss Har-
less.
Two other men were seriously in
jured in accidents. Harry Miller,
Kokomo, Pennsylvania railroad
lineman, is believed to have suffered
broken back when he fell from a
pole near Logansport. William
Horner, so, is in a serious condition
from scalds suffered when the boiler
of a threshing outfit exploded at the
o. E. McHassie farm near Stiles
Vile.
The Indianapolis times., 1927-07-23
AIRMAN ESCAPES DEATH

By United Press
WASHINGTON, July 23.-Com-
mander Eugene e. Wilson Of the
Navy bureau Of aeronautics engi-
neers, who has been officially cred
tied with much of the development
of the air-coo'sd aviation motor.
escaped death in an airplane crash
over Anacostia naval air station
here Friday.
He received slight burns and
minor injuries, and the Curtiss
Hawk pursuit plane he was flying
was destroyed by fire.
Wilson said he saw a flame shoot
ing into the cockpit near his leg.
He came to earth at once and fell
or jumped from the plane, which
turned over.
The Indianapolis times., 1927-07-23
ASK U. S. TO AID lee
Norwegian Consul Protests
Cruelty to Alleged Slayer.

BIZ United Press
NEW YORK, July 23.-The case
of Ludwig Lee, Norwegian, charged
with numbering and dismembering
the bodies of Miss Sarah Brownell
and Mrs. Alfred Bennett in Brook
lyn, today threatened to become an
international incident.
Norwegian Consul General Ger
ard sent e. telegram to Secretary of
State Kellogg at Washington ask
ing him to take some action to pro-
tect Lee from assaults of police.
Attorneys for Lee charged he was
badly beaten by police when he
was questioned" for forty-eight
hours in an attempt to force con-
fession. His body was badly marked
with bruises and abrasions, the at
tarneys charged, but permission to
have photographs Of the marks ia
ken was refused by Brooklyn courts.
The attorneys also protested Lees
detention for 100 hours after his
arrest before he was arraigned.