davidaulloa/AmericanStories huggingface dataset:
New Britain herald., 1929-11-14
MARKET RALLIES,
 CARRYING ISSUES
 ID HIGHER PRICES
(Continued From First Page)

be supported with large bids, at least for the time being, served to discourage bear" attacks, which have been widely held responsible for the recent destructive liquida- tion.
 Auburn Auto ran up s4a75 A share on a few sales, Allied Chemi- cal jumped s22, Columbian Carbon $20.50, w. l. Case SIP, U. s. Indus- trial Alcohol SIS, Geenral Electric s17 and American Can. National Biscuit, Electric Storage Battery. Standard Gas & Electric, Ward Baking preferred and Westinghouse Electric sold s14,50 to s16.5O a share higher.
 Placing of large bids by power ful financial interests was greeted on the floor of the exchanges by loud cheers, which were echoed in hundreds of brokerage houses as the record of the transactions ap- peared on theA illuminated stock tickers.
 The advance brought to an end, at least temporarily, the most de- structive wave of securities liquda- ton in the country's financial his tory. Bear" traders, who were be- lieved to be largely responsible for the ruthless selling of the past few days, were driven to cover as prices opened substantially higher. and then extended their gains.
 Sales Very Heavy
 Total sales on the New York stock exchange during the first half hour of trading were 1,736,3O0 shares, almost equalling the turn over of 1,S05,300 shares during the same period yesterday The ticker soon fell more than 20 minutes be- hind the market.
 The sudden change in market sentiment, coming after four suc- cessive sessions of steadily declin- ing prices on the last three of which prices touched new low levels, was widely attributed to the an- nouncement Of a proposed lowering of federal income taxes and the ap- pearance Of strong buying support as shown by the placing of a bid for 100000 shares of Standard Oil of New Jersey stock at $50 a share just before the close of yes terday's market. Wall street also heard that large bids had been placed for L. s. Steel common and Anaconda at s15o and s7n a share, respectively, or just below yester- days final quotations.
 Persistent reports that power
New Britain herald., 1929-11-14
SENATE REFUSES
 ID TAKE RECESS BEFORE SESSION
(Continued From First Page)

Canada last year 106,57S,O00 feet of hardwoods and imported only 52,915,0o0 feet, Walsh said declar ing Canada imposed heavy duty on American hardwoods. The Massa- chusetts senator said this was no excuse for taxing American con sumers Of Canadian woods.
 Hale Urges Duty
 Senator Hale. republican. Maine. and Senator Reyes. republican, New Hampshire. urged the duty. The former said most of American eX- ports to Canada were of Oak and all imports were of maple and birch. Therefore. he argued, the comparison made by Walsh was not fair
 The domestic hardwood iHdustry is having hard sledding" now, Hale said. adding that imports and the growing use of linoleum was having a depressing effect.
 Reyes said a flooring mill in his home town had been forced to close because it could not meet Canadian competition.
 Senator Smith, democrat. South Carolina, arguing against tariff, said the request for duty was 'un- doubtedly the most fragrant eXam- pie of greed on the part of the manufacturers"
 Approval was given to commit tee change to increase the rate on Moulders' Patterns of Wood from 3G 1-3 per cent to 50 per cent. The house had proposed 40 per cent
 The senate also approved a com- mittee increase to 40 per cent in the present duty Of 33 1-3 per cent on bent wood furniture.
 A proposal by Senator Wagner, democrat, New York. to restore the existing duty was rejected. The house had proposed 55 per cent on bent wood furniture.
 Without a record vote an increase from IS 2-3 per cent to 33 l-3 per cent in the duty on paint brush
New Britain herald., 1929-11-14
NEW CHURCH ORGAN
 ID BE DEDICATED
Concert and Exercises at Film
 Swedish Church Saturday

A concert and ceremony to dedi cate the new pipe organ at the Film Swedish church will be held at the church Saturday and Sunday evening. The Wennerberg male chorus under the direction of John A. Lindsay will sing. Miss Anita Swanson. organist, will play the new organ for it's first public recital. The program will be as follows; Organ Prelude. Prayer
 Vocal solo, Lord God of Abraham
 Mendelssohn. Organ selection, "Marche Triumph
 ale" Lcmmens; Ave Maria"
 Schubert: Prelude in c sharp
 minor Rachmaninoff. Chorus, 'The Heavens are Telling.
 Beethoven. Organ selections. Cantilene pastoral,
 Guilmant; "Saloijgs Lied.
 Grieg; "Fanfare," Lemmens. Vocal solo, The Lord is My Light"
 Allitsen Organ. Prelude and F'ugue in F mi
 nor, Bach; Largo. Handel:
 March Religioso, Prof, Per
 OlSSon. Chorus: lover Skogen. Over Sion.
 Lindblad Bon in Stoemen,
 Hueener. Organ. Familiar melodies, ITO th=
 Rising Sun" Toejussen; "Fari-
 ations de Concert,' Bannett Rev, AXel T. Peterson will be in charge.
New Britain herald., 1929-11-14

ton of the banks is emphasized here. So far as can be learned no financial houses are in danger. The view presented is that the market is in the midst of a wide specula- tive correction and that this cor rection will have to run it's natural course"
 Sales on the stock exchange yes- tcrday totalled 7,761,450 shares. On the New York curb they were D. 770.650. Net declines on the stock exchange ranged from one to 29 points. Among the high grade is- sues only a few showed losses of more than 10 points for the day. A score of issues emerged at the close with net gains.
 The stock exchange ticker ran two hours and 47 minutes after the close of the three hour session at 1 ?. m.
New Britain herald., 1929-11-14
ENGAGEMENT BROKEN

New York. Nov II UP)-An- rouncement of the breaking off O. the engagement of Miss Louise Ise- lin to Count Leonardo Mercati Of Paris by mutual consent was made in a statement issued at the offi"a Of her father today
 Had the marriage taken place it would have united one of the oldes- families of America with one Of the oldest Of Greece. Miss lselin being g granddaughter of Adrian 1selin and of MT. and Mrs. Charles Whit. tier of New York and Boston, and the count a son of Count Alexandro Mercati of Athens.
New Britain herald., 1929-11-14
Leaders Pleased

New York, Nov. l4 LP'-Industrial and financial leaders today express ed approval of the proposal by Sec retary Andrew Mellon of a rcduc- tion in corporation and personal in come tax rates. Some comments follow:
 Charles M. Schwab. chairman of the board of the Bethlehem Steel Corporation:
 q am in hearty sympathy with what MT. Mellon has done. I think it is the proper move It will mean a great deal at this time to Ameri- can business. You may say for me that I believe it will result in much good"
 Francis H. Sisson, vice president of the Guarantee Trust Co.,:
 That is very interesting and important suggestion and one which will be generally approved by busi- ness men and business interests, it is an important contribution to the of the government in the ability of American business to meet It's prob lens and support the government. This announcement strikes a reas- surfing note which will be generally welcome"
 Percy H. Johnston, president of the Chemical National bank:
 MT Mellon is wise and able secretary of the treasury. He knows what he is about. His statement in- dicates very forward looking pro- gram. Business, after the present slump, would have been facing the future with a great deal of uneasi- ness, but this very constructive pro- gram of MT. Mellon's will be a splen- did stimulant to business people. It is good thing"
New Britain herald., 1929-11-14
Moves Toward Controversies

Washington, Nov. 14 US - The senate, drawing ever nearer the sugar schedule, perhaps the most controversial in the tariff bill seemed well on it's way today to consideration of that section before the indicated adjournment at the end of next week.
 The probabilities were, in fact. that the controversy would be reached before the end of this week, and that the senate would be well through the schedule before laying aside the bill for a weeks rest prior to the regular session.
 Today's debate embraced remain ing committee amendments to the wood schedule, after disposal of which, under the new procedure of tariff debate, individual amend ments to this commodity classified tion were next. The sugar schedule follows
 On the first three schedules com mittee amendments alone were acted upon, the plan being to return in diNidual amendments on each sec ton after committee amendments to the entire bill had been discussed and brought to a vote.
 Shingles Duty Killed
 Proposed duties on shingles were eliminated and proposed increases in the tariff on watches were de- feated late yesterday. Also, pro. posed higher levies on clocks were discarded. Logs of fir. spruce, ce- dar and western hemlock. now dutiable at one dollar per thousand board feet, were placed on the free list and the retention of cedar lum- Der on the free list was approved, contrary to house action ma king it dutiable at 25 per cent ad valorem.
 No definite lineup on the sugar controversy was apparent, although Senator Simmons, North Carolina, ranking democratic member of the finance committee. has said that with the possible exception of the Louisiana members. the minority party will sponsor the present 1.76 a pound rate on raw Cuban sugar.
New Britain herald., 1929-11-14
HAYES STREET BURGLARY
 IS BLAMED ON BOY, 15
Lad of 1o Also Involved in Theft Of Wrist Watch and
 Money

A boy whose age was Is years, according to the school records, but whose mother produced a birth cer- tificate to prove that he was IS, was taken into custody by Detective Sergeant Ellnger yesterday on the charge of theft, in connection with the entrance made 10 house at 12S Hayes street. where wrist watch and money were stolen. In police court today, Prosecuting At torney Woods entered a nolle for the reason that the boy will be ar raigned in juvenile court.
 With him will be a 12 year old boy who admitted to the police that he was involved in the theft. The money was taken out of a gas meter, which was pried open by the boys. Sergeant Ellinger recovered the watch.
New Britain herald., 1929-11-14
TAX CUT PROPOSAL MERE COINCIDENCE
 WITH STOCK DROP
Continued From First Page)
should warrant, or consider another plan of temporary reduction.
Tax Reduction Plans

Washington. Nov. IA R-Tax reduction-a material slash in the governments annual assessment upon the incomes of millions of in dividuals and business institutions today was definitely and imminently in prospect
 A general cut of one per cent in able to incomes of the present cal endar year and effective all along the line, from the mammoth cor poration to the lowly wage earner whose earnings just exceed his per sonal exemption, is planned by the treasury department.
 A detailed program has been drawn up, after a careful examina- tion Of the many factors which con- trol government revenues and ex- penditures and, with the approval of President Hoover, will be recom- action when that body meets next month in regular session.
 Even Includes Bill
 The treasury's plan even includes the form which the necessary legis- lation should take in order that de- lay, particularly that incident to a general revision of the federal rev. enue laws, may be avoided.
 All this was revealed by Secre- tary Mellon in a statement published today. The desire of MT. Hoover and Mir. Mellon for tax reduction has been well known for many months. but in their own view determina- ton of the effect of many circum- stances, upon the nations finances was necessary before action could be taken.
 Although saving that complete estimates of government needs as compared with prospective govern ment revenues were not yet avail able, MT. Mellon in his statement as- serted that the study of the situa- ton had progressed to such an ex- tent that a recommendation for tax reduction could be made.
 "The indications are that business profits, dividends, interest and wage payments in 1929 will consid- erably exceed those of the year 1928" he said. Our estimates indi- cate that the government should close both the fiscal years Of 1o30 and 1881 with a surplus. Taking all factors into consideration, the secretary Of the treasury, with the approval of the president will recommend tax reduction to the congress-
 Outlines Form of Cut MT. Mellon went on to outline the form the proposed reduction should take and to show how the one per cent cut would operate. He pointed out that 'on the first s4,000 of taxable income the rate will be re duced from one and one-half per cent to one-half of one per cent; on the second s4,000, from three per cent to two Ter cent; and on the balance, the present five per cent rate will be reduced to four per cent"
 The corporation tax rate. he said, would be reduced from twelve to eleven per cent. He estimated the total reduction of income taxes to be collected during the calendar year Of 1880 at approximately $780, GOO, 900. No question was made of any contemplated revision of the surtaX rate structure.
New Britain herald., 1929-11-14
Wife BIames Weather
 For Marital Difficulty

Chicago, Nov. 14 PEThe weath- CT, blamed or nearly every thing else, now it takes a place as ground for divorce.
 Mrs. Alice Leblanc held it respon- sible for her domestic troubles. She said Leo Leblanc had a habit of spending his winters in Florida and leaving her in Chicago where it gets cold. In the summertime. she said. her husband would go to some cool resort and permit her to swelter in the metropolis.
 Judge Charles A. Williams grant ed the divorce.
New Britain herald., 1929-11-14

No government official except . central bank governor, nor any
 member of any legislative body may become a director of the interna- ! tional bank. The board of directors
 must meet at least ten times an- nually. of which four meetings must be at the domicile of the bank. | The powers of the chairman of | the board of directors who also will l be the president of the bank are sweeping: Subject to the authority of the board, the president will carry the policy and control the administration of the bank" His also is re-eligible. The banks general manager will be appointed by the board of di- rectors on the proposal of the president He will be responsible to the president who will recommend also to the board heads of depart mcnts. The remainder of the staff will be appointed by the general manager subject to the presidents approval. The interpretation was placed on this here that the presi- dent. thus is clearly the guiding spirit of the institution. Chapter five of the statutes pro- vides that at general meetings Vot- ing rights shall be in proportion to the number of shares subscribed in the country Of each institutional represented at the meeting. Extra ordinary meetings may be called to amend the statutes, increase or de- crease the banks capital or to li- quidate the bank.
 Chapter six fixes the financial year beginning April 1. The bank must publish an annual report and at least monthly statements.
 Liquidation Provisions Chapter seven provides among other things that the bank may not be liquidated except by three fourths majority in a general meet ing and not before it has discharged all obligations assumed under the Young plan.
 Disputes anent interpretation or application of the statutes shall be referred to an interpretation tri- bunal established under the London agreement of August 30, 1924. By common consent both parties may refer any dispute to the president or any member of the tribunal as sole arbitrator.
 Articles relating to the dornicile of the bank it's objects. functions. reduction or increase in capital, non voting right of shares, the veto clause. forbidden operations, com- position of the board, early profits, or arbitration, cannot be amended except by two-thirds ma ajority of the board approved by a majority Of a general meeting, and sanction ed by law supplementing the banks charter.
 Other amendments need merely two-thirds majority of the board and majority Of the general meet
 ing.
New Britain herald., 1929-11-14
Three Factors Present


 New York, Nov. 14 P - Three factors were present in the Wall street situation today which opera tors hoped would help to stem the torrent of selling.
 These were:
 An order to buy 100000 shares of Standard Oil of New Jersey at 50, generally believed to have been placed by the Rockefeller interests.
 Action by, the governors of the New York stock exchange 10 learn it powerful bear interests were driving prices down.
 A financial news agency dispatch from Washington that government officials did not regard the present situation an emergency requiring action on their part and that fnan- cial institutions were in no danger. Developments of Day These developments appeared yesterday during 8 session in which continued heavy selling drove prices to new low levels for the year.
 The order for 100000 shares of Standard Oil the largest order ever l placed on the stock market. did not appear until late in the day J. H. Holmes & Co.,, brokers who placed i 1t, refused to divulge the buyer but the order was at once linked with the Rockefellcrs by observers who recalled that two weeks ago John I D. Rockefeller, ST., announced that he and his son were buying sound stocks for investment.
 1 Standard oil of New Jersey touched 50 yesterday and closed at 50 3-4, net loss of 3.37 for the day. The order is what is known as a "drm" one, that is, it stands un- til executed or is cancelled. | Brokers saw in the order the first effective buying support the market has had in several days. The action of stock exchange of ! fcials to learn what part profess sional bear operators are playing in the unexplained decline took the form of questionnaire sent to members by the exchange commit tee on business conduct.
 Questionnaire's Queries 1 The questionnaire asked: r. A list Of all stock borrowed, from whom and for whose account; a list of all stock loaned and to whom; inter- office borrowing and for whose account; and a list of all stock which has failed to be delivered and ] for whose account.
 ] Members in New York are re- quired to reply by Saturday and out of town members by Monday. Regarding the attitude of govern ment officials toward the present market situation a special dispatch carried on the Dow Jones financial news tickers said:
 At this time unusual or emer- gency action is not in prospect. Of- flcials have concluded that such action is not warranted by the present situation. "Soundness and very good posi-
New Britain herald., 1929-11-14

Since the reduction is effective on incomes of this year and taxes to be collected in the next. with re- turns to be filed by March IS. 1880. it is hoped that congress will avoid all possible delay in approving the necessary legislation. MT. Mellon suggested that legislation take the form of a joint congressional reso- lution. rather than of a tax bill, as the latter world throw the federal tax structure open to a general revision.
 Both Parties Approve
 Finally, the treasury secretary said that the proposal had been discussed with republican and democratic leaders Of both houses Of congress, who have tentatively approved the proposed recommen- dation,"
 Some speculation was aroused by the wording Of the statement as 10 whether President Hoover had al rad dy approved the proposed plan. or was withholding his appreciation until complete estimates Of federal needs and prospective revenues for this and the next fiscal year have been completed.
 In this connection. it was pointed out that the statement was given 10 the press by Undersecretary Ogden Mills after returning to the treasury. from a conference with the chief executive. Earlier, MT. Hoover had conferred with Mellon. Mills and Roy A. Young, governor of the fed eral reserve board.
 A reduction of $l60,000.000 on collections from incomes of the cur rent calendar year, is expected to be offset to q large extent by increased incomes on which taxes must be paid.
 Consider Other Plan
 Indications shortly after Mr. Hoover took office were that both he and Secretary Mellon had in view first of all a lessening of the tax burden of the man of moderate in- come, either through increasing the 9o per cent credit now allowed on learned income"
 That the reduction is 10 be effec- tive all along the line is regarded as indicating greatly increased esti- mates of prospective federal reven- ues,
New Britain herald., 1929-11-14
Fl. S. GRIDDERS PRACTICE

After a rest Of two days the New Britain high school football team held it's first practice session ycster- day afternoon and it is expected that 1t will practice every day until Fri day, November 22, the day before the annual football contest against Hartford Public high school,
 Coach George M Cassidy Is ar ranging for a change ot offensive attack
New Britain herald., 1929-11-14

full bear" pool had been operating in the market this week to the ac- compartment of widely circulated alarmist rumors was generally be- lieved to be responsible for the &C., ton of the New York stock ex- change yesterday in demanding the market position of its member firms as of Tuesday and every day there after. until further notice. New York members were given until noon Saturday to file their report while out-of-town firms were re- quested to give the information not later than Monday noon.
 Some of the large opening trans actions on the New York stock ex- change were:
 3O,OOo shares General Motors, s36.12, unchanged.
 3O,oOO shares Standard Brands, BPS. up g..
 25.oo0 shares Commercial Sol vents, S51, up s9.
 oon0o shares International Nick cl. s25. of 50 cents.
 c0,0Oo shares Transcontinental Oil. :6.5o, up 37 cents.
 15.oOo shares Texas Corp, $50, off 50 cents.
 15.O00 shares Commonwealth &, Southern, s11. up o5 cents,
 12.000 shares Columbia Grapho- phone, s2O.25, up so.5o.
 12.00O shares Sinclair, soo12, up 1o cents.
 10000 shares |. S. Steel, sl55, up s3.5o.
 10000 shares Union Carbide. s64.S7, up s4.62.
 10000 shares Radio, sSS. up s4.25.
 10000 shares Westinghouse Elec- tric, SHOES, mp s5.25.
 10000 shares Gold Dust, sSS, up s5.S7.
 10000 shares Anaconda, s74, up :3.50.
 10000 shares American Can, s1oO.50, up s14.5o.
 7,5o0 shares American Telephone, sc09.75, up s2,75.
 e,00o shares United Corporation S23.50. up s4.27.
 5000 shares General Electric, s1S9. up SIG.
 5000 shares New York Central, s167, up s7.
 4,Ooo shares Montgomery Ward, s52. up s2,12.
 Some of the large opening trans actions on the New York curb ex- change were:
 46,oOo shares Electric Bond and Share. s63, up s11.15.
 21,600 shares Cities Service, S25.12, up 62 cents.
 10000 shares Niagara and Hud- son, 312.12, up 12 cents.
 Quotations and net changes of some of the leading issues on the New York stock exchange at II a. m. were:
 |. S. Steel, s156.75. up s5.25; American Can, s96, up s1O; Stan dard Oil Of New Jersey. s55.5o, up s4.75; General Electric. s1S3.25, up s10.25; Anaconda Copper, s75.12. up s4.62; General Motors, sS7. up S7 cents; Johns Manville, s1O3. up sS: Radio, s31.75, up s3; Westing- house Electric, s115.5o. up s10.5o; Union Pacific, s206.25, up s625; American Telephone. s213, up se; Bethlehem Steel, sS2.37. up s325; Montgomery Ward, s53.25, up s5.37; Canadian Pacific, $1e5, up s4.75; and American & Foreign Power, S5S.75, up s7.75.
 ii O'Clock Prices Shown
 Eleven o'clock prices of a few leading shares on the New York curb market included:
 Allied Power & Light, $2s, up sS.62; American Superpower. SIS. up sS; Cities Service, s25.25. up s1; Electric Bond & Share, s5S.o5, up s7; Goldman Sachs, s36.5o, up s1.50; Lehman Corporation, s7o, up s4; Middle West Utilities new. se1.S7, up 12 cents; Standard of Indiana, s49,S7; up s1.37; Niagara Hudson Power, s12.50, up 50 cents; Pennroad, sl6.62. off 12 cents; United Light & Power A, s21.75, up s1.75.