davidaulloa/AmericanStories huggingface dataset:
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1928-04-23

penses of these pension schemes. Ex-
Icept for the railways, where the COM
|pany old age pension prevails, indus
tries where such pension schemes are
found have no strong labor unions.
This scheme tends to discourage col
lective bargaining; it ties the worker
to his job in expectation of pension.
The average pension paid is SAB a
year-hardly enough to guarantee the
worker an independent old age"
On the other hand, strikes are for
hidden to workers who want to get
pensions. The railway strike of 1916,
the railroad shopmen's strike of 1922,
the steel strike of 1919, various tex
tile and leather workers strikes,
strikes against the Pullman Co.; the
engineers and firemen's strike against
the Western Maryland Railway and
many other strikes, showed that the
old age pension is used as lash over
the worker either to prevent him from
striking or for turning him into a
blackleg. Many of the pension
schemes contain regulations which
make striking misdemeanor for
which the worker loses his pension
rights.
Organized labor objects to these
pension schemes on the ground that
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1928-04-23
Fake Old Age Pension Schemes Exposed

employe. In case of discharge by the
company, the worker cannot claim a
pension. This makes the worker en-
tirely dependent on the generosity"
of the company; he has no certainty
of support in his old age.
Workers Pay Own Pensions.
The "contributory" plan of old age
pensions is followed by 80 companies.
Under this plan the workers con-
tribute part of their wages to the old
age pension fund and the company
contributes a stipulated portion,
In addition to these two plans,
some companies provide for the re-
tirement of their aged workers by
purchasing annuities from insurance
companies. In most cases the pension
consists of a certain percentage of
the workers annual wage multiplied
by the number Of years he has served
the company. In other cases the pen
sion is flat percentage Of the work
Ier's average wage, ranging from 25
to 60 per cent. The smallest pension
on record is S. a month; the highest
lis rs per cent of the workers average
wage. -.-.- LII
Some companies compel their work
Iers to join the old age pension fund:
In effect the workers pay the ex-
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1928-04-23
By LELAND OLDS,
Federated Press.

The tremendous concentration OF
financial power represented by the
National City Bank of New York is
dramatically brought out by the re-
cent addition of $60,000,000 to its
capitalization and that of its sub
s:diary, the National City Co. This
giant Rockefeller-Kuhn Loeb organi-
cation will now have capital funds
totaling 100000, the largest Of
any bank in the United States or
Europe.
The new capital will be obtained by
the sale to stockholders of 100000
new shares of stock at $400 share.
Stockholders will be offered 1 new
share for each shares now held. As
National City shares had market
value of SS45 a share March % when
the offer was announced, the chance
to purchase the new shares at $400
was reckoned as representing bonus
of about SIS a share or at $56,250, 000
on the outstanding stock. According
to the New York Times this is the
largest bonus ever distributed by a
financial institution.
Market Value Increases.
Since the announcement the mar
ket value of National City stock has
gone to $1,000 share. This gives
the 100000 shares outstanding mar
ket value of S750,000,00o. The Wall
Street Journal points out that this
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1928-04-23
Finance Magnates Rake in Shekels Control Industries

exceeds by $553, 100000 the net asset
value Of the entire organization. This
huge excess of market value over as
set value represents a capitalization
of the extraordinary profit-making
capacity of this citadel of credit.
In deposits and gross assets the
National City Bank leads all other
banks in the United States by wide
margin. But English banks, due
to the branch banking system allowed
in that country, rank ahead of the
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1928-04-23

Am. Ex.-Irving, N. Y.
Bankers Trust, N. Y.
Con. National, Chicago
Nat. Blk. Com, N. Y.
Equit. Trust, N. Y.
Ill. Mer. Trust, Chicago
First National, Boston.
First National, N. Y.
Cen. Union. IT,, N. Y.
Union Trust, Cleveland.
Los Ang. First National
First National, Chicago
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1928-04-23
Reaches Foreign Lands.

The National City Bank through
it's investment company reaches out
into the financing of the United
States and foreign countries. In 1927
it headed syndicates which floated
new securities to the tune of $685.,
$4,000 and participated in syndicates
which floated $1,154,695,000 addition
al securities, a total of new securities
amounting to $3.50, 311, 900. J. p.
Morgan 4 Co. headed syndicates with
a total of $502,590,0 900 in new securi-
ties offered. But in the total value
of all securities with which its name
was connected National City outdis-I
tanced all competitors.
Control Reaches Governments.
National City financial control ex-
tends not only over railroads, mines,
smelters, refineries and factories
throughout this country but also to
governments, municipalities and COR
porations in foreign lands. It repre-
sents the dominant financial interest
in many corporations engaged in ex-
plotting Wall Streets Caribbean en-,
pire. A check of it's financial opera
tons in the last IL months shows tho
following countries included in It's
sphere of influence: Canada, Argen-
tina, Brazil, Chile, Peru, Porto Rico,
San Domingo, Australia, Austria,
Finland, Germany, Greece, Italy Ire
land. Norway and Sweden.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1928-04-23

National City in deposits and resour-
ces. At the close of 1927 National
City deposits totaled $1.275, 041. 965
and assets 1882, 802,851.
16 Largest Banks.
Americas 16 largest banks, ranked
by deposits at the end of 1927 were:
National City, N. Y. Isl ,275, 041 900
Chase National, N. Y. 792,339,O 900
Guaranty Trust, N. Y. 720,029,oO0
Bank of Italy, San Fran. 645,O02, 900
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1928-04-23

622,176,000
562,O69,O00
541,322,000
537,262,OO0
478,852,000
383,334,O00
360,177,0O0
349,537,O00
311,403,00o
293,5S9,0O0
285,624,000
274,O95,OOO
The Washington times., 1928-10-11
TOO TEACHERS
TO HEAR BALLOU.

Addressing two gatherings OF the
division of State Teachers Associa-
ton of Virginia on Friday in Blue
field. DIR. Frank w. Ballou, super
intendent of Washington schools,
will talk on the Improvement of
Teachers In Service and "Signifi-
canoe OF Individual Differences
Among Children" 1t was an
nOunced that approximately loo
teachers will attend the two meet
ings.
Giving a resume Of the talks he
will deliver. DR.. Ballou said today
that Ii was only in recent years
through scientific tests that educa-
tors have been able to meet the men.
tai differences among children With
specific educational programs. His
first lecture Friday. will be on this
subject.
The second address dealing with
the Improvement of teachers in serv-
ice is based, according to the noted
educator. on the value of the teacher
through actual teaching.
The Washington times., 1928-10-11
INDICTMENT OF
FOUR D. c. COPS
REFUSED

Charges of assault with a danger
Gus weapon. placed against four
Washington policemen after they had
made liquor arrests half a mile be4
yond the District Line, were ignored
by a Prince Georges county grand
jury yesterday.
Ralph Harbaugh and Stephen
Johnson swore to the warrants
after they had been arrested and
charged with possession and trans
portation of liquor. They were
pursued into Maryland by Police
men Joseph Comiskey, Leroy Batch
elor, e. w. Gore and j. w. Con-
nors, all of the Fourth precinct.
Following the arrest, the police
men brought Harbaugh and John.
son back to this city and charged
them with the liquor law violations.
United States Commissioner Need.
ham G. Turnage ruled that the
arrests were illegal and dismissed
the charges.
Police officials here refused to
serve the warrants sworn TO by
Harbaugh and Johnson, thereby
making ii necessary for the State
OF Maryland to indict the police
men with a view to instituting ex
tradition proceedings.
Prosecution of Johnson and Har-
baugh on the liquor charges Is now
in the hands of Prince Georges
county authorities.
The Washington times., 1928-10-11
LATEST FINANCIAL MARKET NEWS
BALTIMORE LIVE STOCK

BALTIMORE, Oct. Al. - Eggs
Market steady. On the Baltimore
butter and egg exchange there were
no offerings today. Street sales
small lots nearby current receipts.
candled. 42@43c. Some higher. Re-
ceipts, butter, 149 tubs; eggs. las
cases.
Poultry-Chickens, old. a lbs. and
over, 28@3Oc: old, 3 to Sla lbs. 20
@24c; leghorns and other light
stock. 19022c; old ROSTERS, leg
18c: young chickens. springers. col
ored. as to size. 27@30c; springers.
leghorns. as to size, 25@2Sc: ducks,
white pekins. young. lbs. and
over. 24@26c; puddle, young. 4
lbs. and over. 22Q25e; muscovy
young 24@26c: all kinds. old, Is
@20c: guineas. young. 2 lbs. ana
over. S5c; smaller. 50065c; pigeons
young and old, per pair, 25Q3Oc.
Butter-Creamery, fancy. per H.,
49@50c; do. choice. 47Q4Sc: do.
good. 45@46c: do, prints. 50052c.
do. blocks,4S050c; do. ladies'. S5@
SSc; Maryland and Pennsylvania
rolls; Chic and West Virginia rolls;
store pocked. SSc; MARYLAND. Vir
ginia and Pennsylvania dairy prints.
process butter, 41W42c.
The Washington times., 1928-10-11
CHICAGO LIVESTOCK

CHICAGO. Oct. Hogs--Re.
ceipts. $4,000: maket steady. Top,
1918: bulk. 9.O0@1O.10; heavyweight
9.2jn10.15; medium weight. 9.20m
1915; lightweight, 8.s561O.15; light
lights. s.20G975: packing sows,
8.251a.25; pigs, s.0099.25; holdovers,
1000.
Cattle-Receipts 10000: market
steady. Calves-Receipts, 5000
market, steady. Beef steers-Good
and choice. 1913; common and
medium, 9.50@15: yearlings. $500
11.75. Butcher cattle Heifers,
9@16; cows, 7.25@11.50; bulls, 7@11'
calves, 14@16; feeder steers, 100
1880; stocker steers, 9W12.50; stock
er cows and heifers, 7@10.50. West.
ern range cattle-Beef steers, 90
14.50; cows and heifers, 8@12.50.
Sheep-Receipts, $4,000; market
steady. Medium and choice lambs
12.50M13.4O: culls and common. $50
oil; yearlings. 9M11; common and
choice ewes, 4G6.75; feeder lambs,
11N1325
The Washington times., 1928-10-11
BULL MARKETS
SEEM To De
SLIPPING
Nv NJ. s. RUKEYSER

NEW YORK. Oct. 1.-THE I'M
healthv use of a disproportionate
amount of the total supply of
loanable funds in security specu-
lafion will be relieved when, and
il. outright investors begin to take
stocks from marginal spectators.
In other words, correction will
take place when investment trusts,
financial institutions and wealthy
individuals switch from lending of
funds at call on the stock ex-
change--as so-called outlaw or
bootleg lenders-to the actual buy
ing of securities.
Trend Downward
The very reverse of that healthy
process has taken place recently,
especially since the middle of Sep
TENDER. when security prices on
the average reached a new peak
for the Coolidge cycle of bull
markets. For more than three
weeks, prices remained at the
summit. without making further
advances. Last week the trend
turned downward
That stocks were not moving
from weak to strong hands in
the last four weeks was demon
strated by the continuous rise
in brokers loans to the highest
levels in history without q cor.
responding further rise in aver.
age prices. The increasing ratio
OF loans to abrogate stock values
clearly pointed to the fact that
distribution on large scale
was going on. Pools and more
substantial financial interests
were taking profits by dispos.
ing of stocks to those who Dor.
rowed to buy at peak prices.
Any substantial liquidation in
the stock market would help to
ease the credit situation, and
easier money would tend to re-
strict the adverse effects on
prosperity of recent peak rates
for long-term and short-term
money.
Amateur traders, who have
not lived through genuine bear
markets. too often are luiled
to false sense of security by
assurances from superficial GUS
toners men in brokerage offices
that all is well.
Prices quoted on the ticker
represent current collective
judgment concerning values, but
experience has shown that such
appraisals are frequently arbi
trary and hence are not lasting.
Security buyers who rest their
plans on the assumption that
current prices are rock bottom
must pay pena ty for their
willingness TO worship a false
idol: The stock ticker.
The Washington times., 1928-10-11
times
AsSGa4bbSSS
RATES PER LINE PER DAY
Cover insertion In both the Morn
tng Herald and EVeHinR FtnaeAl

These rates are Tor consecutive TN
sertions for nndisplay twant) ads
only.
All ads are restricted to their
proper classification Ind to the regu-
lar Herald style Of type.
Correction Of errors In classified
ada must be made before the second
Insertion No allowance will be made
for more than one unc0rrected In-
seRttOn
Ads ordered for more thar one .Iay
and stopped before that time will he
charged for the actual number 81
times the nd appeared rbarTing the
rate earned
Situation wanted and cIalrVoyaHt
ads accented On cash basis only
Count slx average words In the
tine. An average word has six
letters.
Contract rates furnished ON an
oIirafion.
The Washington Herald Is . mem.
her Of the Association ~ Newspaper
Classified AdVertisins Managers
which Includes leadinR newspapers
throughout the cOuntPv and has for
one ~ ita aims the elimination Of
fraudulent and misleading classified
ADVERTISING The Washington Herald
as well a. every either member OF
the association endeavOrB to print
only truthful classified advertise.
menta and will appreciate having ita
attention called to any sve-s'~a-
ment not conforming to the highest
sta ndaris Of honesty
The Washington times., 1928-10-11
BALTIMORE PRODUCE

UNION STOCK YARDS. Bait
more. Oct. -Cattle-Receipts. so
head. Market steady. Steers
Choice, $1s.5O@f4.OO; good. $12.75@
1925; medium. $11.75@12.50 com
mon. $9.25011 90; feeders and stock
ers. $1O.5O@12.15. Heifers-Choice.
81. 50@12.OO; good. s1O.75@11.25:
medium, s1O01O.50; common, $500
$50; feeders and stockers. $4,000
II. 90. Bulls-Good to choice. $500
1000: fair to good. $S.50m9.25; com
mon. to medium. $7.0O@8.00. Cows
Good to choice, $9.25@10.00: fair
to good. $1,000 100: common to
medium, $5.00@7.50.
Sheep and Lambs-Receipts. as
head. Market steady. Sheep 5000
@6. 80; lambs, $700@14.00
Hogs-Receipts, 225 head Mar
ket lower Lights. $1,000; heaVies,
S10.75@11.O0: medium. $11; roughs.
S6.50@9.75: light pigs. $6.OOQ9.OO'
pigs, 5000.
Calves-Receipts. so head. Mar
ket steady. Calves. $5.00@$16.0O.
The Washington times., 1928-10-11
BAL TlMORE GRAIN MARKET

garlicky domestic, $1.3S; receipts,
45,433 bushels; shipments, 1880.
Corn-Firmer No. yellow do
nestle, $1.19@120 bushel: receipts,
4,516 bushels; shipments, 67$
bushels.
Oats-Steady. No white do.
mestic, 52M53c bushel; No. 8 white.
50@51c bushel; receipts, 22.5aS
bushels; shipments, 32.80S bushels.
Rye-Nominai; shipments, 11S
bushels
The Washington times., 1928-10-11
WANTED
AN EXPERIENCED
ERSONAL4 VALET

A HIGH CLASS, Elk
PERIENCED, Personal
VALET is WANTED BY A
GENTLEMAN RESIDENT
IN WASHINGTON. APPLY
AT ONCE BY LETTER,
STATING FULLY YOUR
PAST EXPERIENCE, REF
ERENCES, ETC.
APPLY BOX NO. GIGS,
TIMES-HERALD
The Washington times., 1928-10-11
MARKET EXPERT
HITS BOOTLEG
LOANS
By b. C. FORBES

The founder of j. P. Morgan
and Company was once asked
by a man who had just acquired
q rather large sum Of money.
"What should / do with this
money, Mr.. Morgan?s The vet
eran banker replied, invest it in
the thing you know most about.
This advice; given by the great
est banker this country has ever
produced, is recalled by what is
going on in Wall Street.
Gambling Risky
Many people are today in.
vesting their savings in things
they know extremely little about.
They are buying this, that and
the next stock, not because they
have analysed the corporation
and become convinced of its
promising prospects, but because
somebody told somebody else
that it was sure to advance in
price. Those who gamble i'm
stocks thus specifically court
losses. They flout the mature
counsel given by the long-headed
J. P. Morgan.
Those who are especially rec
commended to ponder what they
are now doing in Wall street are
the big corporations that are lend
Ing many millions of dollars on
call.
BY so doing. they are not adher
ing to the familiar adage, Shoe.
maker, stick to your last"
VIII it, in the long run, pay
business enterprises. or hurt them,
to depart from their normal func-
tons and set up IS money lend
ers7
An Records Broken
BY supplying spectators with
an ever-increasing volume of
funds, these corporations and
other non-bank lenders have frus-
trated all the efforts OF the Fed
eral Reserve authorities to check
the stock speculation which has
outrun anything ever before wit
messed. Not only has speculation
eclipsed all records in point of
volume-on the New York Stock
Exchange it is SO per cent. beyond
last year-but it has facilitated
the marking up of quotations to
h lights almost universally re-
Rarded by bankers and other con-
servative students of economics a s
unwarranted by either actual:ties
or prospects.
Thus the so-called bootleg" lend
ing has fostered the creation of a
dangerous situation in the security
markets.
Bluntly, business and enterprise
cannot fail to be hurt should re-
cent and present ongoings be per-
sisted in.
Copyright. 1928. by b C. Forbes)
FINANCIAL STATEMENTS
The Washington times., 1928-10-11
PITTSBURGH LIVESTOCK
PITTSBURGH, Oct. H.

PITTSBURGH, Oct. IL
Cattle-Supply light; market steady
choice, $14014.50; prime, $13.50@ II;
good. $13.50@14; tidy butchers, 81
m1275; fair. SHOE; common, SO 70
IL: common to good fat bulls, 1919
oil. common to good fat cows,
S56S: heffers. $10.5o@11 25: fresh
cows and springers. $50@125; veal
calves, ST..
Sheep and lambs-Supply. 500;
market steady; good, 1925; lambs.
1915.
Hogs - Receipts. 1900; market ac-
tive. steady to higher; prime heavy
hogs, $10@10.50; heavy mixed, $10.25
@10.50; mediums, 10000 SO,
heavy Workers. S10.30010.60: light
Workers., $9.25@9.75; pigs, $909.25'
roughs. $9@9.35.
ETNAN,GyTAT STATENTEMTS
The Washington times., 1928-10-11
WOMAN KILLS SELF

GREENWICH. Conn. Oct. H.
Mrs. Anna Moore Flynn, mother oi
Maurice 8. Lefty" Flynn. former
football star and motion picture
actor. died at Greenwich Hospital
Yesterday from the effects of self
inflicted wounds on her throat and
wrists. according to announcement
TODAY. - ---------
The Washington times., 1928-10-11
LEGAL Notices
Meksnnss. rlannsr, and crairh,i At,
NOTICE on pARrNERsHip

HOIllE EAhl NEhSnAE
Notice Is hereby given that under Ger
tlflcate this day filed IN the office Of the
Clerk of the Supreme Court Of the DIS
trict Of Columbia KARL w CORBY. Of
Rockville. Md. and j THIBMAN HEN
DRICK, OF Washington c. have been
admitted TO membership In the firm OF "
B HIBBS e COMPANY and that the un.
dersigned have agreed to continue their
cO-partnershtp under said firm name OF
w B HIBBS COMPANY for the purpose
Of carrying on and conducting general
banking stock exchange brokerage and
commission business in the Hibbs Build.
ing. 725 Fifteenth st. n W.. washington
d c., from the first day of October, l126
and continuing until terminated by the mu.
tuai consent of the partners. their legal
representatives or assigns with capltas
of one million seven hundred fift9 tnOue
and dollars ISL 750. 00Ol of which amount
two hundred fifty thousand dollars t$25O, :
O00J has been contributed BY said
THII.MAN HENDRICK as a specfai partner
and the remainder of said capitalization
BIZ WILLIAM 3 HIBBS and WILLIAM
~ SPAID 0f washington. d. G.. and By
KARL w CORBY of Rockville. Nd. as
general partners The business OF the
partnership win be transacted by the gem
eraI partners only Said THILMAN
HENDRTCK az special partner. shall moi
he liable for or subject 10 any loss o.
liability beyond the amount of his afore
adAu sytnru
The Washington times., 1928-10-11
Auction Sales
THOS. J. OWEN q SON, AUCTIONEERS
I43I Eye Street Northwest

I43I Eye Street Northwest
TRUSTEES SALE OF VALUABLE TWO
STORY BRICK DWELLING KNOWN
AS PREMISES NO. 1895 SHERMAN
AVENUE. NORTHWEST.
BY virtue of certain deed OF trust duly
recorded in Liber No. 1906, Folio 145
ct. seq, OF the land records of the District
nf Columbia and at the request of the
parry secured thereby, the undersigned
trustees viii sell. At public auction III front
Of the premises. on MONDAY THE
TWENTY ECqND DAY OF OCTOBER.
the following described land and premises.
situate in the District of Columbia. and
designated as aud being part of lot IS in
Anna Maria SchultZ's subdivision OF part
of Block o in Todd and Browns subdi-
vision of part of the tracts of land called
Mount Pleasant" and Pleasant Plains. !"
as per plat recorded in 'Liber County IL
folio 4 of the Records of the office of the
Surveyor OF the District of Columbia. he
ing more fully described in said deed Of
trust Assessed as lot 81 Square 1893.
Terms: Sold subject TO a prior deed of
trust for 50 10000 and second trust for
about $1,000 90. further particulars of
which viii be announced at time of sale ::
the purchase price above said trust TO be
paid in cash. A deposit of 100000 re-
the purchasers cost. Terms TO he com
piled with within thirty days. otherwise
denosit forfeited and the property may he
advertised and resold at the discretion of
the trustees. -
VIM. Il. COWAN
Oct IL I3 16, 1S. 20 Trustees
The Washington times., 1928-10-11
Motor Coach Schedules

WINCHESTER. via MiddIeburg Fairfax.
Tpperville ard Paris. Valley Line con-
nectiuns Leave 7.30 a. m. II D.. M. 4 30
o. M 9th and Pa Ave W N. 9493
The Washington times., 1928-10-11
Help Wanted
FEMALE

DESIRABLE POSITIONS
are open to young women
is years Of age and over,
good pay to start, with fire.
uuent increases. Apply 8.
q. m. to 5 p. M Wisconsin
Ave. and Stanford st,
Bethesda, Md.
THE CHESAPEAKE AND
POTOMAC TELEPHONE co.
or BALTIMORE CITY
The Washington times., 1928-10-11
Too Late to Classify

Man desires furnished room and garage in
vicinity 14th and Park Road. Address
Box 95. Times office.
The Washington times., 1928-10-11
FINANCIAL STATEMENTS
oA1l'' - ~ REPORT OF CONDITION THE
NATIONAL METROPOLITAN BANK
RESOURCES

he District Of Columbia, at the close Of business
October g. 1925
The Washington times., 1928-10-11
WINIlOW SHAllES

MANUFACTURING ALL oIIR WINDOW
shades enables us to give You . better
shade Stock shades 69c: domestic shades
75c 81 90 small additional charge for
measuring and Installing Our PYrox cloth
il the best that IT, rainpro0f and washable;
will not curl RLEEBLATT lIib & n
SIS r phnne Line $40
The Washington times., 1928-10-11
LILLIAN b. HIBBs

WILLIAM W 8EAII.
y THILMAN HENDRlCK.
KARL W. CORBY
washington ID C. October 1. 1928.
oct . i.6.g11 IS IL. 1920. 23.25.21
The Washington times., 1928-10-11
FINANCIAL STATEMENT
REPORT OF CONDITION
Of the
Munsey Trust Company

or Wa shington, In the District of Co.
nmbia AZ the close of bust
ness on October 3. 1928
The Washington times., 1928-10-11

INSTRUCTION t1Di KSlfS 30
Alto DRIVING tauRht QUICKLY DID rel
secured al any time Call N 1910
MEN Become firemen. bralSemen. colored
train or sleeping car porters: exp. unnee.:
81 50-$260 month good roads. Write In
ter. Ry.. Dept. 8. lndianapolis. Ind.
BOYD 20 6U-day business courpe Thorough
up-to-date: easily mastered successful
Boyd Secreta rial School
l33s g " Est YrA N 233a BIZ
The Washington times., 1928-10-11

y - VI ' FI'-F NV " z TitEP ND I'M 20
weather, clear; track, fast.