davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
SPECULATIVE CURB
ACTIVITY DECLINES
Credit Factor Slows Up 0per-
atoms for Advance-voIume
Is Smaller.
BY HARRY H. BECKER.
Special Dispatch to The Star.


NEW YORK, May Tighter money
sobered speculative enthusiasm on the
Curb Exchange today, but did not al
| together check operations for the rise
in few favored issues. "
The immediate credit factor seemed
to be Offset to large extent by favor
able earnings and trade developments
affecting specific shares. One or two
Of the utility representatives were bid
up violently again at the opening In
large blocks and there were q number
Of strong spots in the aviation, mer-
chandise and miscellaneous industrial
sections However, the gains were coun-
teracted by a sagging tendency else
where.
The opening was featured by a spec
tacular' advance in Electric Investors
on q 10,000-share transaction at new
high price and a 15,000-share punched
order in United Corporation, which was
reactionary. All the American Super
power issues also displayed heaviness,
while United Gas Improvement extend
ed its previous rally from the low
reached after the announcement that
the stock could no longer be exchanged
for United Corporation preferred and
common. Developments at the annual
meeting Monday were also interpreted
as favorable.
Among the aviation stocks which re-
sisted the selling best were Transcon-
tinental Air Transport, at q new record
price; Douglas and Fokker. National
Aviation, which Is managed by the
CurtiSS-KeyeS interests, was in demand
on belated recognition Of the first four
months earnings, which were at the
rate of $3.25 q share for the year.
Among the airplane accessory issues,
Thompson Products met support on
news that current profits are running
so per cent in excess OF the correspond
ing period of 1928.
While the oils lacked uniform trend,
and some displayed moderate weakness,
some of the lower-priced independent
issues held firm. Greater activity was
witnessed in Intercontinental Petroleum,
which has purchased control Of IS
per cent interest in the Turkish Ameri-
can Petroleum Corporation, which owns
IL concessions in European and Asiatic
Turkey 49,,
In the better grade list. Gulf OH Of
Pennsylvania, Cities Service and the
Standard Oils displayed mixed trend.
The money influence was most Ell
fective in producing reactions in some
recent favorites, like Auburn Automo-
bile, Newmont Mining, Firestone Tire
and Gramophone. Losses. however.
were not particularly severe. On the
other hand, pools succeeded In marking
certain specialtieS into new high ground.
Among these were Sentry Safety and
American Commercial Alcohol, which Is
expected to be transferred to the big
board this week.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07

last year managed to earn its preferred
dividend.
In order to pay OF bank loans and
build up its financial position SO as to
be able to extend the further credit so
necessary in selling farm implements,
the company passed the dividend on
the preferred. These have now accu-
naulated TO the extent of $29.25 share.
The recent gyrations Of both preferred
and common stock are most confusing.
The president Of the company has
stated that there is no reason for the
common to sell above preferred or
anywhere near It." Not long ago he
aScribed the fluctuations to pool action
or manipulation by interests unknown
to me-"
Since then both common and pre-
ferred have advance over 30 points
and some new directors have been add
ed to the Advance Rumeley board. In
two days last week the turnover of
common and preferrei on the Stock
Exchange was almost equal to the to-
tai number Of shares outstanding.
In recent years earnings have rarely
covered preferred dividends. Nothing
has been earned on the common. It Is
officially stated that the future Of the
company hinges upon the success Of
the general purpose tractor introduced
last year. In the absence Of inforna-
ton concerning the company's outlook,
the stocks are highly speculative.
(Copyright, 1929
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
/ Dispatch to The Star.

Special Dispatch to The Star.
BALTIMORE, Md, May 7.-Pota-
toes, white, no pounds, 1.0oal.50; new
potatoes, barrel, 4.50a4.75; yams, barrel,
2.OOa4. 90; sweet potatoes, barrel, zoo
a3.75; asparagus, dozen, 1.25a3.O0;
beans, busl1el, 1.25a2.75; cabbage. hamp-
er, 9oa1.25: carrots, crate, 2.25aS.50;
bushei, 1.75a3o0; eggplant. crate, s2.5oa.
$50: kale. busheI, 20a4O; lima beans,
bushel, 35Oa4.0 lettuce, hamp-
er, 5Oa1 IS; onions. crate, 1.50a1.75;
Spring onions, hundred, LOCALS;
peas, bushel, 1.50a2.25;; peppers. crate,
3 .50a4 SO; radishes, hundred, LOCAL 80;
spinach, bushel, 30a90; tomatoes, crate,
I.75a4.75; apples, bushel, 75a2.00;
grapefruit, box, 2.00a3. rs; oranges, box,
2.25a4.00; strawberries, 17a45.
Dairy Markets.
Live Poultry-Spring chickens, pound,
35a45; Leghorns. 34a40: thin ana poor,
2Sa2s: old hens, Sass; ducks, 20a25;
guinea fowl, each, 50a1.l0; pigeons,
Eges-Receipts, LOTT cases: native
and nearby, firsts, free cases. dozen,
29a2eh; current receipts, 20a22.
Butter-Good to fancy creamery,
pound. 45a48: prints, 49a51; blocks,
48a50; ladies, 35a38; rolls, 33a35; dairy
prints, 33a34; process butter, 42a43.
Hay and Grain Prices.
Wheat-No. 2 red Winter, garlicky,
spot. 1.l0N; May delivery, 1.10K.
Corn-No. Q export, April delivery,
no quotations; No. yellow. domestic,
SPOT, / .O3al .04; cob corn, 5.50a5.75.
Oats-No. white, domestic, spot, 6oa
601z; No. white, domestic, spot,
571aa58.
Rye-Nearby, 1.00a1.10.
Hay-Receipts, 26 tons. While hay Is
arriving here in limited quantities only,
it is more than enough for the demand,
which is being supplied mostly by truck
from nearby points, few carloads be-
ing received. There is not enough busi-
ness passing to establish prices on the
various kinds on merit at a range Of
12.ooa16.o0 per ton OF timothy or clover
hay.
Straw-No. wheat. 12.ooa12.50 per
ton; No. oat. l2.50a13,00.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
BY KENNETH s. VAN STRUM.

NEW YORK, May Each month
last year registered an increase In the
amount of agricultural equipment pro-
duced, as compared with the corre-
spending month Of the previous year.
This year Is showing an even greater
increase over 1928, and current earn
ings of the implement companies are
running at record levels.
Case Continues Improvement.
Case ThreShing Machine Co., maker
tillage implements. reported earnings
on common stock to be $25.01 in 1928,
which made the third consecutive year
the company has reported earnings OF
more than $40 share.
In the agricultural implement indus
try, where so much business Is done on
credit, crop failures and depressed con-
ditionS have taught implement manu-
facturers to make ample allowance for
contingencies. It Is stated that II Case
were less conservative in its account
ing methods it could have shown bet
ter than $40 earned last year. Natu-
rally, If agricultural conditions continue
to improve and it becomes unnecessary
to use these reserves, they will eventu-
ally accrue to the stakeholder. When
the industry definitely proves that 1t
has attained a sound foundation, a
split UP of Case stock would be natural
In such an event, the company could
easily show larger earnings.
Deere's Large Earnings.
Deere 81 Co. specializes In smaller
farm equipment such as steel plows,
cultivators, harrows, farm wagons and
tractors. It makes a wide and varied
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
CHICAGO LIVE STOCK MARKET

CHICAGO, May Up UNITED States
Department Of Agricultural .-Hogs-Re-
ceipts, 10000 head, including 1900 di-
rect; market opening steady to 10 lower:
later trade fairly active at steady prices;
top. 1l.45, paid for 200-pound averages;
few loads above 1925; butchers, medium
to choice, 25o-300 pounds. 1o.60a11 IS:
200-250 pounds, 1o.75a11.45: 10000
pounds, l035a11.45; 130-160 pounds,
1o.00al1.25; packing sows, 9.50a10.25;
pigs, medium to choice, 90-130 pounds,
9.25a10.85.
Cattle-Receipts, 5000 head; calves,
receipts, 5000 head; undertone weak on
yearlings, with weighty steers weak to
IS lower; largely a steer run; 1900 bid
on 1,3o0-pound steers; slaughter classes,
steers: good and CHOICE, ;3oo-i 500
1350a15.00; ESQ.,, 100 pounds, 13.50a
1900; common and medium, $50 pounds
up, 1o.50a13.50; fed yearlings, good and
choice, 750-950 pounds. 13.75a15.00.
Heifers, good and choice, $50 pounds
down, 13.00a14.75; common and me-
dunn, 9.25a13.00; cows, good and
choice, 975a12.25; common and me-
dunn, 8.0oa9.75; low cutter and cutter,
6.25a8 90: bulls, good and choice (beeD I.
1000; vealers milk fed good and
choice, 12.00a1600; medium, 10.50a
1900; Gull and common, 7.50a10.50:
stocker and feeder steers, good and
choice GALL weights, 1225a13.75; COM
mon and medium, 9.50a12.5o.
Sheep-Receipts, IL 900 head; market
steady to weak; Shorn lambs, 13.90a
1850; good to choice wooded, 1880;
some held higher; sheep steady; me-
dunn to good fat ewes, $50. Follow
ing quotations on shorn basis; slaughter
classes, Spring lambs, good and choice,
16.25a1750; medium, 15.25a16.25; Gull
| and common, 13.25al5.25; lambs, good
and choice, 90 pounds down, 13.36a
l44o; medium. 12,5oal3.50; Gull and
common, 10.00a12.50; medium to
choice, 92-lO0 pounds, 12.25a1400:
ewes, medium to choice, $50 pounds
down, 6o0aT.50; Gull and common, 3.75
a6.00.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
WHEAT AT LOW LEVEL.

CHICAGO, May 7 CP).-Wheat prices
smashed downward today to the lowest
level reach at this time of year since
1924. At the days bottom figures, wheat
showed drop of % cents q bushel,
compared with the seasons top figures
last February. Word of immense piling
up OF wheat at Montreal with no relief
expected until the latter part of May
had a specially bearish influence today
on the market here, and reported moves
to utilize United States Shipping Board
vessels to carry surplus domestic grain
to foreign centers from Gulf Of Mexico
ports had but little if any effect on
values
Wheat closed nervous, 2lac to 3Xa
3asc net lower, corn varying from Ac
decline to sc advance, oats 1saAc of
to .14c gain and provisions unchanged
to q rise of zoe,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
PRICE INDEX DECLINES.

The wholesale price index of COM
modities declined one-tenth of l per
cent during the past week, resulting in
total decline of 10 per cent since
March and 81 per cent during the
past IL months, according to the whole
sale price index of the National Fer
tflizer Association. The chief declines
occurred in textiles, fats and fertillzer
materials, small declines occurring in
other foods and metals Slight adj
vances occurred in grains, chemicals
resin and crude petroleum. The total
number of declines was "a and of ad-
Vances %.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
Speaks on Coal Industry.

CHICAGO, May z Especially .-Ad-
dressing the twenty-first annual meet
ing of the International Railway Fuel
Association here today. Harry L. Candy,
executive secretary of the National Coal
Association, Washington, D. c., stressed
the common interests of the railroads
and the bituminous coal industry. He
stated that the annual output of the
1856 mines owned by "a railroad COM
panies was about 25,000,000 tons of
bituminous coal, or over per cent Of
the total production of the country.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
Markets at a Glance

NEW YORK, May z [P.-Stocks ir-
regular; aviation shares reach new
height. Bonds irregular; United States
Governments soft. Curb irregular:
United Corporations advance checked
by realizing.
Foreign exchanges steady; Spanish
peSeta rally Cotton higher; unfavor-
able crop advices. Sugar easy: poor
spot demand. Coffee lower; easier Bra
lillian advices.
CHICAGO, May z [P.-Wheat weak;
slump at Winnipeg and large stocks.
Corn steady; decrease contract stocks.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
Baltimore Customs Receipts.

BALTIMORE, May 7 Especially -
April customs receipts at Baltimore
amounted to $633, 500. 88, compared with
1888. 76803 in March and $639, 079.70 in
April, 1928. For four months of 1929
here totaled $3,573.52668, compared
with $2,842,944.71 for the correspond
ing period Of 1928.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
F. & w. GRAND SALES.

F. & w. Grand 5-10-25 Cents Stores
report total sales for April, 1929, of
1888, 1897, against $1,171 ,804 for April,
1928, an increase of 35.5 per cent. For
the four months ended April 80, sales
totaled $5,571 1888. compared with $4,-
001 1926 for the same period last year,
an increase of 392 per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
Rayhestos Sales Gain.

Raybestos Co. and subsidiaries reports
net sales of $2,211 ,297 for the first quar-
ter of 1929, against $1,552,094 In the
same period last year. After all de-
net profits were $415,4 29,
which after preferred dividends was
equal to $3.40 per share earned on the
1852 shares of $25 par value COM
mon stock outstanding. Net for the
first quarter of 1928 was $224,298, or
$178 a share on the common.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
PARIS BoURsE PRICES.

PARIS, May 7 (P).-Prices were firm
on the Bourse today. Three per cent
rentes, "A francs 10 confines; per
cent loan, 10l francs 10 confines Elk
change on London, 124 francs 1917 CEN
times. The dollar was quoted at as
francs 59a centimes.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
COTTON PRICES FIRM.

NEW YORK, May Especially A
continuation of yesterdays selling move
ment carried prices about 81 a bale
lower during earlier trading in cotton
today, but below 1870 for July and Oc-
tober. The market developed greater
resistance. The list left of about I'M
changed on the day.
Another bad break in wheat and
higher money rates kept trading under
nervous fluctuations throughout. Spots
uara l1nchancad of 10 az
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
Fender Company Sales.

The D. Fender Grocery Co. reports
gross sales for the month of April OF
$1,272,614, as against $1,153,983 for
April, 1928, gain Of 1913 per cent.
Since May the Pender Co. and South
ern Grocery Stores, Inc, both of which
are controlled by National Food Prod
ucts Corporation, have been operated
under cooperative management, and
Louis H. Windholz, president of Pen
der and chairman of the board Of
Southern Grocery, anticipates larger
sales and greater earnings IRON both
companies. The two chain systems
operate a total of approximately 800
stores in Virginia, North Carolina.
South Carolina, Georgia and Alabama.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07

line ana In recent years mas SHOWN Is
rapid improvement as any implement
company.
Deere has also learned from expert
ence to make ample allowance for agri-
cultural credits. Even with extremely
conservative methods, however, earn
ipgs on the common stock during the
past three years have averaged $33.45.
In 1928 they touched $3.50.
With the stock selling on the Curb
around $50, the yield Is only slightly
over l per cent on the Sc dividend. It
will eventually be raised. the stock split
up and larger earnings shown.
International Widely Diversified.
International Harvester is the largest
manufacturer Of agricultural machinery,
with plants and sales Offices all over
the world. It carries on practically
every phase Of the manufacturing proc
esses involved in making implements,
from mining the iron ore to selling the
finished product.
Because it sells its wide line of equip
ment in every important country bad
agricultural conditions in one section
are usually Offset by good conditions in
another, so that the companyS business
is stabilized and has been increasing
steadily.
while the current dividend of $2.5o
yielded only AL per cent In 1928, earn.
ings were SYST. Thus the dividend
was earned by a wide margin. Inter
national, too, has made generous al
lowances for contingencies and research
work.
Since this company's stock was split
1t has become more popular with IN
vestors and is selling on q somewhat
higher basis In relation to earnings that
the stock of Case or Deere. On the
other hand, its earnings have been
steadier.
CaterpiIlar's Light Tractor.
In January the Caterpillar Tractor
Co. began the manufacture of light
tractors for agricultural purposes, In
addition to its regular heavy tractors,
combines and road machinery. At the
same time it expanded its dealer Or
ganization, with the result that sales
in the first quarter Of this year in
creased Sc per cent over last year. Net
earnings in the same period increased
more than 68 per cent, from 70 cents
last year to $1.36 during the first quar-
ter of 1929.
Caterpillar has reduced prices on its
products whenever sales volume and
factory efficiency would permit. a policy
which has proved very successful.
The companyS rapid expansion mas
required such large sums Of money that
dividends have averaged only IS per
cent of earnings. Even with the So
rate. however, the yield is 3.5 per cent
at IS, and the stock Is selling at II
times last years earnings. This selling
price Is lower than offered by the other
leading implement companies.
Speculation In Advance Rumely.
Advance Rumely, having recently
cleared up an oversupply Of tractors,
threshers and combines resulting from
overproduction in 1926, has lately been
making progress. The company had
difficult time clearing up old stocks. but
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
YOUNG MAN

College srad, business experience, specialist
In industry. foreign and domestic commerce,
marketing and merchandising, desires posi-
ton with future with commercial or imam
ciaI house or manufacturing nrm. Address
Box 1I3-v. Star once.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
NEW YORK CURB MARKET S.: 4: st.. ~:

NEW YORK, May 7.-FolIowing is a
list of stocks and bonds traded In on
the New York Curb Market today, with
the volume of sales and prices up to and
including the close Of the market.
aaIne In TNnUaTRIAIG
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
Municipal Financing Drops.

NEW YORK, May Cp).-State and
municipal financing in April totaled
nearly SS1 100000, the smallest amount
for that month since 1920.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07

OF 81 900 applicants for jobs as bus
drivers in London recently, only 1,023
were accepted.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-07
Speculation In Advance Rumely.

Advance Rumely, having recently
cleared up an oversupply Of tractors,
threshers and combines resulting from
overproduction in 1926, has lately been
making progress. The company had
difficult time clearing up old stocks. but
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-02-15
Hoover Starting
Study Of Florida
Flood Situation

MIAMI BEACH, Fla, Feb. 15.-tP
-President-elect Hoover left his va
cation home on Belle Ise at $3.50 a.
m, today for a two days automobile
trip through the Lake Okeechobee
district of Florida.
He is making the Journey at the
invitation Of Governor Doyle u. Carl
ton no he may have a close up view
Of the conditions which in the view
OF Florida officials call for federal
aid both for flood control and the
Improvement OF navigation.
With him were the governor who
arrived at Miami early today. and
who was a breakfast guest Of Mr..
Hoover; members of the Florida
drainage board, and Representative
Frank r. Reid Of Illinois. chairman
Of the flood control committee OF
the house Of representatives.
Major General Edgar Jadwin. chief
Of army engineers. who already has
proposed to congress an a~pprepria-
ton of more than seven million
dollars for flood control in the Ever
glade district. was TO join the party
near Canal Point. on Lake Okeeeho-
bee, a. he made a special trip from
Washington in order to accompany
the president-elect.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-02-15
INCOME TAX
FACTS

WHO. Single persons who had
net income Of $500 or more or
gross income Of 5000 or more
and married couple who had
net income Of $500 or more -
gross income OF 5000 or more
must file returns.
wHENf The filing period ends
March Is. 1923.
wHEREf Collector OF inter-
nal for the district IN
which the person lives or has his
principal place Of business
HOW! Instructions on Forms
104A and 1040.
WHAT? One and one-half per
cent normal tax on the first
$4,000 in excess OF the personal
exemption and credits Three per
cent normal tax on the mex. s4,-
600. Five per cent normal tax
on the balance Of net income.
Surtax on net income in excess
OF $4,000.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-02-15
IN OUR VALLEY

CONTINUED from Page 0ne.)
ing this business in the same time
again for = certain length Of time.
Circumstances in this ease appear
to be somewhat different. because a
newcomer entered with the appar-
ent intention Of publishing the
paper. Whether II will come TO
trial Is not known.
CARRIER DELIVERY Of mail in
s~ugurated in two large sections Of
Brownsville today. Stores handling
such merchandise report brisk sales
during past few days Of mail boxes
and metal figures for numbering
houses.
Indicating that q large part of the
populace "a be served has complied
with request or the postoffice off
cials.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-02-15
.KIWANIS BACK
CELEBRATION
Enlarged Recreation
al Facilities Urged
BY DR.. PammeI

Full support OF the chamber OF
commerce in the airport celebration
Feb. Is was pledged BY the Browns
vile Kiwanis club at its meeting
Thursday.
The club will aid the celebration in
every way possible, officers say.
The meeting was featured by an
address on city recreation facilities
by DIR. L. II. Pammel, widely known
head Of the department OF botany at
Iowa State College, Ames.
The visitor strongly urged that
these facilities be increased. he said
the Valley has numerous historical
sites that should be preserved, men
tioning the battlefielcs of Resaca dc
las Palmas, Patio Alto and numerous
spots along the old military highway.
These could easily be combined into
historical monuments and recreation
spots at once, the professor stated.
DR.. Pammel read excerpts from The
Brownsville Herald. Houston Post
Dispatch and the Daily 0klahoman In
bringing u his points. One stated
that a city that had spread out and
put up skyscrapers but failed TO pro-
vide recreation facilities for it's in
cressing population had failed TO
progress.
He endorsed the park policy OF
states. Since DR.. Pammel has been a
member Of the Iowa park body, 40 Of
the states IS parks have been estab-
lished. The professor also recited
statistics on national parks intended
to show that local facilities should be
increased. DR.. Pammel emphasized
his opinion that ONE park typical
of the lower Rio Grande should be
established.
The noted professor is very favor
ably impressed with the Valley. This
Is his first trip 70 Texas since he
worked on a cotton o rot survey
Al years ago. He expects to remain
in the Valley until the middle Of
March. Mrs. Pammel is here with
the college head.
Due 10 the claim agents conven-
ton, the musical program of the club
was continued until next week.
Four visitors were presented.