davidaulloa/AmericanStories huggingface dataset:
The American issue. [volume] (Westerville, Ohio) 1912-19??, 1929-10-01
CANADA CLOSES ONE DOCK

Cooperating with the United States
government in its enforcement of national
prohibition the Canadian government
closed the Atlantic export dock at La
Sale, Ontario, because Of its alleged CO.
operation with American rum-runnerS.
The Atlantic dock is one of the ten ex-
port docks running under the Canadian
government license.
Seizure Of an airplane which landed to
take on car load of liquor presumably
for American consumption brouoht about
the closing Canadian officials said. The
airplane, thirty-threo cases of liquor and
q truck were condScated.
The American issue. [volume] (Westerville, Ohio) 1912-19??, 1929-10-01
RESISTS MALT TAX

Julius Stroh, president of Stroh Prod
ucts Company, of Detroit, announces that
his organization will not make any pay
ment of taxes imposed by the new malt
tax act of Michigan. Stroh declares that
since the act exempts from taxation malt
sold for medical or commercial purposes
ne will pay no tax The malt which his
company buys comes under this claSsif1-
cation he says. The act was passed to
restrict home-brewing or beer.
The American issue. [volume] (Westerville, Ohio) 1912-19??, 1929-10-01
DIE IN OWN TRAP

Two victims were found dead in the
fumes Of an acid used in distilling in
Garfield, NJ j. The men were Samuel
Sherman. who was facing trial for oper-
ating still six months ago, and Herman
Schwartz. The dead men were in an ex-
cavation which had been made to hide
their operations. Beside the body of one
of them were found twenty barrels of
boiling mash, into which the acid had
been poured. There was also other ap-
paratus for making liquor on large
scale.
The American issue. [volume] (Westerville, Ohio) 1912-19??, 1929-10-01

mo man can do the bess work of which
he is capable if he is taking alcohol Al
cohol acts as accun1ulative poison Pro-
fessor Sims, Woodhead Cambridge Uni
Versity.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
CURB STOCKS GAIN
IN NARROW LIMITS
Trading Falls Off on Rallies
Operators Show Caution
in Dealings.
BY HARRY H. BECKER.


Special Dispatch to The Star.
NEW YORK, March 6.--Realizing
was on smaller scale on the Curb Ex-
change today, but, although the list dis
played rally tendencies, advances were
less pronounced than during recent
periods of strength.
A significant feature of the trading
vas the contraction in volume on the
recovery indicating that the speculative
element was still concerned over the
high money rate. However, gains out
numbered losses in the active features.
The market started off irregular. but
became steadier and strengthened with
the stock market. The recovery was
most impressive in the aviation shares.
The factor most responsible Tor the ouy-
ing was organization of a S20O,00O.oO0
investment company to acquire substan-
tial stock holdings of many concerns
now actively operating.
Aviation Corporation OF America
scored a good recovery. although it still
moved nervously because of yesterdays
bad break. Bliss and Fokker were also
stronger. e.
Only a few utilities participated in
the rally. the most pronounced gains
taking place in Electric Bond d Share
old and new, American Foreign Power
warrants and American Gas q Electric.
These were largely offset by a renewal
OF profit taking in the American Super
power shares, Northeastern Power and
Commonwealth Edison. United Gas I'M
provement was much less active.
Trans-A America featured the bank in
vestment trust section at a new high.
Other strong issues in the speciality
class included Trans-LuX American De-
partment Stores. American Cyanamid,
Checker Cab, Zenith Radio, Haygart
and F'irestone Tire. Gold Seal Electric
broke sharply and down tendencies were
displayed by Auburn Automobile. Do
minion Stores and Bohn Aluminium,
largely due to realizing.
Oils failed to emerge from their neg
lected condition, although Crystal Re-
tlning became active and strong. United
Gas firmed on announcement that Duval
Texas Sulphur, subsidiary, had COM
pleted plans for doubling its present
capacity.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
WHEAT Is LOWER
IN EARLY TRADING
Reports of Cheaper Canadian Of
ferings Cause Drop at
Chicago.
BF the Associated Press.

BE- the Associated Press.
CHICAGO, March 6.-Wheat prices
displayed an early downward trend to-
day, influenced more or less by Euro
pean reports of cheaper Canadian offer
ings and of selling pressure from Ar
gentina. Winnipeg wheat receipts today
totaled 1,138 cars, against 1913 cars
year ago. Opening unchanged to y off,
Chicago wheat later underwent sag
all around. Corn and oats were also
easy, with corn starting unchanged to
q down and afterward holding near to
initial figures. Provisions advanced
Downturns today in wheat values
here were associated not only with re-
ports of price cutting abroad because
of competition between Canada and
Argentina, but were also affected by
figures showing about 100000 BUSH
els more wheat in this country than at
this time last year. Meanwhile, any
important foreign demand for United
States wheat continued lacking, except
that O. good export business in durum
wheat to Italy was going on, 100000
bushels being taken.
Helping at times today, however, to
rally the wheat market were Washing
ton messages indicating that the time
when the extra session of Congress
would be called was to be not later
than April Is, and that the admins
tration farm relief bill will be ready
April 10. Talk also was current in
some quarters that a resumption of the
Eastern buying which recently doni-
mated the market would again be wit
messed and would turn prices upward.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06

Telephone Co. Of Baltimore City will
involve estimated gross expenditures Of
S5.435 900. Central ofice equipment
for the Curtis, Hamilton, Riverside.
Annapolis. Crisfield. Cumberland. Fred
erick. Havre de Grace and Hyattsville
local central ofices and the toll CEN
trail office. Baltimore, is estimated to
cost $621.000
Expenditures for outside plant In
Baltimore will amount to $246,000;
Frederick. $4,000: Hagerstown, $19 900;
Hyattsville. $4,000, and Salisbury,
$4,000 Pole requirements on ex-
change and toll pole lines in every sec
tons of Maryland will involve further
expenditures of $14l,000
Facilities to be provided by the
Chesapeake & Potomac Telephone Co.
of Virginia during the year will in
volve estimated gross expenditures of
s3.753,000. Expenditures for improve
ments in the Clarendon, Danville.
Newport News, Norfolk, Norton and
Roanoke central Offices are estimated
to cost S225,0O0. Facilities to be added
to the system of the Chesapeake & Po-
tomac Telephone Co. of West Virginia
will involve estimated gross expendi-
lures of $2,650000.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
LARGE TELEPHONE
EXTENSION IS DUE
C. & P. Will Spend Sum of
$16,500, 900 in District
and Nearby States.

The 1929 construction program of the
Chesapeake & Potomac Telephone Co.
and associated companies, operating in
the District of Columbia, Maryland,
Virginia and West Virginia, will involve
estimated gross expenditures of $16,-
SOC. 900, President A. E. Berry an
nounces. The facilities to be provided
in these three States and the District
of Columbia will include new buildings.
building additions, switchboards and as
ISOLATED central Office apparatus, equip
ment on the subscribers premises, pole
lines, wire, aerial and underground ca
BILE and conduit.
In providing these facilities, $1,000
poles, $4,000 cross-arms. 9,400 miles Of
aerial wire for exchange and toll lines,
$4,000 miles of insulated wire for drops,
1872 900 miles of wire in cable and 256
miles of conduit will be used. During
1929 telephone company officials esti-
mate that 23,500 telephones will be add
ed to the 584,26 in service in this ter
ritory on December 81 last.
In the District of Columbia additions
and improvements to the telephone Sys-
tenn provided for in this program will
involve estimated gross expenditures of
$5,157,000. The net additions for the
year are estimated to be $3,759, 900.
Among the major projects is dial sys-
tenn equipment to serve the downtown
business section of Washington. The
building which will house this equip
ment is now being erected. The entire
project will involve gross expenditures
of S2,8l3,0O0 and will be ready for
service in the Spring of 1880. Outside
plant facilities, including underground
conduit and cable, will cost S853.000:
telephone station equipment and private
branch exchange switchboards, $780,
600. The total dial system project will
represent gross expenditures of about
100000, but officials of the telephone
company state that only about $780,
600 of this amount will be expended
during 1929.
In Maryland the construction pro-
gram of the Chesapeake & Potomac
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
TRADE ENDANGERED
IN MEXICAN REVOLT
United States Has Large In
vestments South of the
Rio Grande.
BY J. C. ROYLE.
Special Dispatch to The Star.


NEW YORK, March 6-Revolution
in Mexico today bids fair to cost Amer
lean business almost as high as it will
cost Mexican commerce and trade.
The United States has hundreds OF
millions of dollars invested in the ter
ritory south of the Rio Grande. Much
of the property holdings of American
investors are in the states where revo-
luton is most active. These holdings
include railroads, cattle and sheep
ranches and herds, copper, lead and
silver mines, SmelterS and mills, public
utilities, oil wells, pipe lines and re-
fineries, sugar coffee and maguay
plantations, timber lands, fruit planta-
tions, steamship lines and telegraph
companies, as well as some retail
stores and banks.
Trade Is Considerable.
Moreover, the producers and export
ers of the United States have built up
a fine and f1ourishing commerce in
American goods. Mexico is one of the
best customers of this country, follow
ing Canada and Cuba. 1t Is this trade
which will suffer most, since the first
effect of the Mexican revolution is to
cut off lines of communication. Already
the railroads and ports are partially
blocked.
The capture of Monterey has shut
off one route from Mexico City to the
border. The route from Vera Cruz. the
main Atlantic seaport. to the capital Is
blocked by Gen. Jesus Agulrre. Inc
line from Mexico City to Ell Paso is not
open and its tracks may be ripped up
at any moment. Gen. Pancho Manzo
in Sonora is likely to close the ports OF
Guayamas and Mazatlan at any time
1t is not likely that. outside OF the
railroads and the ranches. either side
will sanction widespread damage to the
property of Americans. Mexico Is on
better terms with this country than at
any time since 1910, when Madero over
threw Diaz. Neither side is anxious 10
disrupt this valuable business relation
ship. But activities on the properties
is almost sure to be curtailed. This
will likely prevent producers OF copper
and lead from taking full advantage
of the present advantageous prices
quoted for these metals.
Cattle Growers.
The mines may not be damaged
further than by selling OF dynamite
with which to blow up trains and for
other military uses, but working forces
are sure to be disorganized when
troops are in the vicinity and recruiting
pressure is brought to bear on laborers
This is true also of other lines Of in
dustry.
The cattle growers are likely to suf-
fer. for no soldier, Mexican or other
wise, has been known to pay too much
attention to ownership of a steer when
he is hungry. The herds of North
Mexico. depopulated by years of revolu-
ton, are just getting built up again, and
built to better grade than Mexican
cattle have ever reached before.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
CHICAGO LIVE STOCK MARKET

CHICAGO, March up Omitted
States Department of Agricultural -
Hogs-Receipts, $4,000 head; market
opened active at 25a40 advance; later
trade slow; top, 1900 paid freely for
choice hogs scaling from $50 to 325
pounds.
Butchers. medium to choice, 250-300
pounds, 11.60a12.00: 200-250 pounds,
II .60a12 90: 10000 pounds. ii .35a12 90:
l30-160 pounds, 10.50a12.00. Packing
sows, 1050a11.15. Pigs medium to
choice, 90-l30 pounds, 900a11.25.
Cattle-Receipts. 5000 head; calves.
receipts, 1000 head; light yearlings,
active and firm at recent advance;
weak to Csc lower: shipper demand
narrow killing quality plain; best year.
lings, 400.
Slaughter classes, steers, good and
choice. 1901 500 pounds, 12.25a14.25:
1,100-1 300 pounds, l2.50a1475; $50
1.100 pounds, 1300a1475: common and
medium, $50 pounds up, 9.00a13.25.
Fed yearlings, good and choice, 750-950
pounds, 1300a15.00.
Heifers. good and choice. $50 pounds
down, 1150a13.75; common and me-
dunn, 850a1200 Cows, good and
choice. 8.75a10.75: common and me-
dunn, 690a8.7 rs; low cutter and cutter,
5.50a6.90 Bulls. good and choice
(beef), '9.40a1050; cutter to medium.
S.00a9.4O. Vealers milk fed, good and
choice, 1450a17.00; medium, 13OOa
1885, Gull and common, 90Oal3 90.
Stocker and feed steers, good and choice
(all weights. II .00a12 90; common and
medium, 875a1075.
Sheep-Receipts, 5000 head: market
steady to Is higher; bulk fat lambs,
16.75a1700: several loads of choice,
17.25a1750; fat ewes, 900a10.00; feed
ing lambs steady Lambs, good and
choice, 90 pounds down, 16.15a17 go;
medium, 15.0Oa16.25; Gull and common,
11.00a15 90. Ewes, medium to choice,
$50 pounds down. 8.25a1000: Gull and
common, 3.75a8.40. Feeder lambs good
and choice, 14.50a16.00.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06

sources are not being used to the limit.
our banking laws. did not contemplate
that they ever should be. The Reserve
banks have gone on record as opposing
further expansion of bank credit for
speculative purposes and 1t will not pay
to ignore this warning.
Stalemate.
Since the Reserve Boards initial
warning several Weeks ago the market
has had moderate reaction and has
rallied back sharply to the old high
levels. About 3 Y months ago the mar
ket first reached these levels and since
then the general level of stocks has
made no progress. Business has been
improving, while interest rates have
been rising. Larger and larger sums
of credit have been absorbed by the
security markets.
A good part of this credit has been
used in new financing. but large part
has also been used to finance Specula-
ton. In addition, much of the new
financing of recent months was used
for investment trust flotations. A large
part of these funds will not find their
way into industry for some time to
come.
Margin Trading.
It seems only conservative to consider
the present as a period of uncertainty,
as far as the security markets are con-
cerned. The market meets very heavy
selling pressure whenever 1t attempts to
rise to new high levels. Since the banks
cannot be expected to finance a fur
Their broad rise in the general level of
stocks, one of three things might
happen.
Perhaps "others"-corporatio for
eign banks, investment trusts and pri-
vate individuals, who are lending in the
call money market-will suddenly I'M
cover new credit resources which they
have not yet been tempted to show in
the past, few weeks, even though call
rates are at very attractive levels. If
these "others'' do. supply the credit, the
general market can go on to higher
Levels.
Failing this, one must expect period
In which prices are very irregular and
where some groups are rushed forward
while others drift downward, but the
general level will be able to make little
or no progress. And always there will
be the danger of a sharp decline in the
general level of stock prices.
In any case, 1t seems hazardous to
carry on margin stocks which have re-
Gently been rushed forward sharply
Many conservative advisers are recon-
mending the sale Of speculative issues
when they are strong, and are pointing
out that it is the margin traders that
the Reserve Board Is cunning for.
<copyright, 1s2s.A 80
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
BY CHARLES r. SPEARE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. March 6.-Strength in
the stock market yesterday showed the
effectiveness of two elements of the
Wall Street situation. One of these is
the present volume of business and the
profits produced therefrom. The other
is the new fashion in financing, which
involves the issue of common stocks and
the retirement of bonds, such as was re-
Gently exemplified by the action of the
United States Steel Corporation.
Both these factors were instrumental
in producing the sharp upward demon
stration in Anaconda Copper, which was
one of the outstanding features of trad
ing. The strength of the red metal at
present high price levels provided a
broad foundation for the buying in evil
dence, while the report that Anaconda
would finance the retirement of $117,-
000, 900 in bonds by issue of additional
stock gave impetus to the move. Ana
conda has unissued $117,182, 900 par
value stock, which can be put out with
out increasing authorized capitalization.
Earnings Increase.
Earnings of Anaconda, like those of
many other copper companies, are run
ming we'll ahead of those of last year.
This is true of business in general and
is to be held accountable to no small
degree for the strength exhibited. Vol
ume of industrial production in January
and February exceeded that for any two
corresponding months in history Com
modify prices are fairly well stabilized
and the trend of corporation profits still
is upward. These profits are expected to
exceed those of any previous first quar-
ter.
Production now is estimated to be
nearly per cent above normal Few
corporations or business men are able
to say honestly that they have not been
able to obtain money for business
needs. despite the volume of funds
which has gone into the call money
market for trading purposes. There is
ample money in sight for business pur-
poses at current rates. Those rates so
far have not reached excessive heights.
Few regular customers of the CONNER
cial banks are paying more than 6
per cent
The call money rate Of per cent
which obtained yesterday certainly i'm
posed no restriction on speculative
activities. 1t still is uncertain what
action the Federal Reserve Board can
or will take, but it seems likely that
the volume of funds available for call
loans will be more potent factor than
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
STOCK PRICES SENT UPWARD
BY GAINS IN u. S. INDUSTRIES

the rate at which money may be bor-
rowed
Despite the general high volume of
production, distribution and profits, the
situation is not without its danger
spots. The advance in the price of
copper metal has buttressed the mar
ket, but many are watching the trend
of consumption closely, feeling that
a sharp cut in the copper metal quo
tations might deal stock prices in gen.
eral rough buffet. The huge pro-
duction of crude oil is another dark
spot on the horizon which Is not
tightening appreciably. Still third is
the uncertainty of the progress of
railroad consolidation plans. The rapid
fluctuations of aviation stocks on the
curb illustrated the uncertainties which
newcomers in that field are likely to
encounter.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
FOX COMPANY ACQUIRES
1903 THEATERS FOR CHAIN

BY the Associated Press.
NEW YORK, March 6.-Acquisition
of 103 theaters in New York and Ohio
was announced by the Fox Theaters
Corporation. The new additions to the
Fox chain includes the Is movie houses
owned by Walter Reade, operated
mainly in New Jersey. and the SO
theaters in the Schine group in New
York and Ohio
In connection with Fox's recent pur-
chase of 200 independent theaters,
chiefly in the metropolitan New York
district. an issue of $20,000,000 in
debentures will be publicly offered in
the near future. This acquisition is
expected to add $5.000000 annually to
the Fox Theaters profits.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
WnolWorth Sales Renort.

NEW YORK, March (P).-F. w.
Woolworth Co. reports February sales
totaling Sl9,374,3l0. compared with
S18,992,215 in February, 1928, an in
crease of 2.01 per cent. For January
and February total sales increased 2.5S
per cent to $37,032429
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06

Dividend is not payable on stock called
for redemption on which accrued DIVIDENDS
will be included in redemption.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
Steel Laboratory Planned.

NEW YORK, March 6 CP).-Re-
public Iron 81 Steel Co., Youngstown,
Ohio. is planning to establish labora-
torv in connection with its steel and
tubes plant to develop its patents on
steel tubes and the electrical welding
method of tube manufacture.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
CITY BANK VOTES EXTRA.

The National City Bank of New York
has declared an interim dividend of
So cents a share on the $40 par value
stock.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
BY KENNETH S. VAN sTRUM.

NEW YORK, March 6.-Since last
November it has again been proven that
the stock market discounts a presi-
Dental election we'll in advance and
that the trend of the market does not
change because of election results. This
has held true, at least since the Nc
Kinley election in 1900.
Today it is important to determine
the probable effect on the stock mar
ket of the Inauguration of new PreS1-
dent. In considering this question 1t
broad trend, which lasts for several
years, and the intermediate trend, which
changes every few weeks.
The following table shows these
trends before and after the past seven
presidential inaugurationS. In the past
it is quite obvious that a new incoming
administration has had no effect upon
the broad trend of stocks, although in
three case out of seven the interme
date trend changed after Inauguration
day.
Broad Trend. Trend
Before After. Before. After.
i iso5 Ro snsneK up up up up ap up
1913 Wilson WYNN. down down down down
lls2ii Harding 49,. down down down down
1879 G Goolidse up up III, up down
1898 mower ....... up up
Even though the broad trend has
never changed radically Immediately
after new administration has taken
Office, it also is true that never before
have stocks mounted so steadily as they
have just prior to this Inauguration.
Stocks have been in prolonged up
ward trend for several years. The eX-
act time, from two to eight years, de-
ponds upon the point which one chooses
to consider the beginning Of the pres
ent bull market
During the past two weeks the in
termediate trend of stock prices has
also been upward The same was true
at the time Of Coolidge's inauguration
in 1925 after which the trend 1mme-
diately turned downward. In two other
cases the effect was the opposite.
The only conclusion which it seems
safe to make is that the Inauguration
is forecast well in advance by the mar
ket, and, that it; takes more fundamen-
tai factors to influence the trend.
Business and Credit.
! There are few today who would wish
| to go on record as predicting drastic
bear market. Business. conditions are
| fundamentally sound, the general level
of commodity prices shows no sign OF
| initiation, and goods are passing quick
ly from raw material producer to the
! final consumer. AS result there has
been no accumulation of high-priced
inventories. Thus, while it is hardly
anticipated that the present rapid rate
of expansion will continue indefinitely
| it is believed that any business re-
cession that may come will prove tenn
porary.
| The credit situation is the most diff
ficult problem to be considered While
there Is no doubt that our Credit re-