davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
Special Dispatch to The Star.

Special DlSpdtCn 70 Inc otuI'
NEW YORK, october Sire manu-
facturers are being forced into the re-
failing field on larger scale than ever
before in order to protect their dealer
organizations from competition OF mail
order houses and chain stores, which
quote all makes Of automobile tires at
cut prices, it is indicated by current ac-
tivitieS Of the tire makers.
Firestone Tire & Rubber Co., the B.
F. Goodrich Co., and Goodyear Tire q
Rubber Co. are among the leading tire
manufacturers which have Launched ex-
tensive programs for the distribution
of their product through retail outlets
which they own or control, 1t is learned
from sources close to the companies.
The development, it Is believed, Will
considerably intensity the already high
ly organized competition for retail out
let's for petroleum and products now
under way between the large and small
oil companies. Tire companies, 1t Is
learned, are entering the service sta
ton field in no small way. Competition
between the oil companies to sell them
supplies for these new filling stations
will add another phase to the intensive
campaign for gallonage.
Trade Agreements Seen.
Some authorities give the opinion
in launching forth into retailing Of oil
and gas, as we'll as setting up depots
for servicing automobiles and providing
comforts and convenienceS for automo-
bilists, may result ultimately in very
extensive working agreements and af-
filiations betweS& the tire makers and
the oil companies.
Illustrative of the fact that the tire
manufacturers are going into the service
station business in no small way, 1t Is
stated that the Firestone Co.'S program
calls for the establishment of Nation
wide network of 1900 ''one-stop" sta
lions within the next two or three
years, and that approximately 300 Of
these stations have already been con-
structed. In a number of cases, 1t is
said, the investment required to set up
single stations has exceeded S250,0OO.
1t is believed that the tire companies
purpose pursuing q policy Of financing
individuals or companies which handle
their products where possible but that
the new tire dealer organizations must
have a much wider scope than in the
past, selling all sorts of equipment and
accessories and oil and gasoline, servic-
ing. ETC., as well as tires. The motive
behind the policy is the protection of
dealer from mail order and chain store
competition. In other words, the tire
makers have taken up the "super-serv-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
SAVINGS DEPOSITS OFF
IN CHICAGO DISTRICT
Special Dispatch to The Star.

Special Dispatch to The Star.
CHICAGO, September 5.-According
to a compilation for 1913 banks, the
volume of regular savings deposits on
August 81 in the seventh district totaled
o.4 per cent below August 1. In the
same comparison, the number Of &C
counts and average account showed de-
clines Of OIL per cent and 0.S per cent,
respectively.
Indiana and Wisconsin were the only
States registering an increase in the
number of accounts, and the latter also
had a slight increase in total deposits.
AS compared with September /, 1928,
total deposits advanced 0.8 per cent,
although Illinois, Indiana and Wiscon-
sin showed declines. The number OF
depositors gained 2.3 per cent over q
year previous, with Illinois the only
State recording a recession.
All States showed decrease in aver
age account from year ago, the aver
age for the district being LIS per cent
less. More than half Of the reporting
banks in the district showed deposits ct
q lower level than q month ago, and S6
reported q decline from last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
ACCUMULATION OF BONDS
REPORTED BY BROKERS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. October 5-The fact
that the average price OF domestic
bonds this week has declined to the
lowest of the year which means that
they are lower than they have been in
many individual instances In several
been breaking, follows the precedent OF
other periods OF market tinsettlement.
It does not signify, however, that
bonds will continue to decline or that
those who have been exchanging their
paper profits in stocks for cash are not
considering a reinvestment In more
stable form of securities than they have
been holding for the past two or more
years.
In fact, there are numerous instances
available in investment circles that go
to show that buying Of bonds has begun
on q moderate scale. II this does not
suggest itself in prices it Is because
there Is at the same time q supply OF
bonds in the market from institutions
and individuals that are compelled to
liquidate in order to obtain cash to
protect their speculative commitments.
One Of the largest distributing bond
houses in New York stated this week
that 1t had done the biggest bond BUSH
ness during the Summer and through
September for any similar season IN
years. Another firm that specializes in
railroad equipment certificates had a
like experience, which included some
large sales Of high grade railroad GER
tiicates to foreign purchasers.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
THREE MAIN FACTORS
IN BUSINESS STATUS
Crops. Money Rates and Stock Mar
ket Best Guides to Trade
Outlook.
Special Dispatch to The Star.

0pcCAoA bispaISh " AhO S'eA'
BOSTON, october 5.-Current re-
cessions in the steel, automotive and
building industries are sure to work
out into the general trade picture In
the form of moderately diminished de-
mand, according to this weeks United
Business Service report.
II must be remembered. however, that
these recessions in steel and automobiles
are measured from the extraordinary
peaks Of last Spring and Summer. for
neither of these industries experienced
any Summer slump. All three can de-
cline a fair amount and still operate
on a very satisfactory level Of activity.
There are three other factors which
must not be lost sight of in guaging
the situation. First-it is now apparent
that total crop yields for 1929 will
run about 6 per cent under the 10-year
average. Second-money rates are still
too high both here and abroad. Third
the recent stock market reactions have
generated an attitude that is unfavor-
able to free purchasing and business
expansion.
Whatever degree Of business recess
sion actually develops, however, will ar-
pear worse than 1t really is, by COM
parison with the recent abnormally high
peaks of business activity.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06

week. Bartlett, Seckel, Sheldon and
Anjous were among the varieties most
in demand, dealers reported. They also
bad increased quantities of New York
4uinces and heavy receipts of apples
fom all directions. ounces were Of
Tered around $3.50 and So bushel,
khile the prices Of apples ranged from
81 to 50.
Additional receipts Of alligator pears
from Florida made it evident that the
htire crop was not ruined by the storm.
It was said in a message from Florida
hat much of the crop had been ruined
md the suggestion made that local
dealers hold back their receipts. Re-
ceipts of additional quantities of the
fruit were received, however, and prices
remain practically unchanged.
Honeyballs, honeydews, Persian melons
and cantaloupes continue to be re-
|ceived in quantities more than equal
/ to demands: prices continue cheap.
Oranges and lemons continue high.
dealers report, while bananas, not quite
30 plentiful as usual, also were re.
ported trifle higher.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
TOBACCO SECURITIES
SCORE BROAD GAINS
Increase in Cigarette Prices Marks
End of Long Trade
War.
Special Dispatch to The Star.

NEW YORK, October 6.--A bull
movement in tobacco stocks started to-
day, following the announcement that
cigarette makers had agreed to quote
base price Of s6.4o per thousand for
cigarettes against base price Of Sc, in
effect since April, 1928. The additional
40 cents per thousand, which may mean
an increase in the retail price of cigar
cites, will give an additional $40, 000, 900
net income to the four largest tobacco
companies-American Tobacco, Rey-
nolds Tobacco, Liggett & Myers and
Lorillard.
American Tobacco opened on a block
of 1000 shares at 100, or up 10, and
the stock with block of 1000 shares
at 100, up 20 points above yesterdays
close. Shortly thereafter the B shares
hit 1924.
This advance, which comes after all
the leading tobacco stocks had reached
record low prices for the year, Is con-
sidered the first phase In the ending Of
price war which has ragged for more
than II months and has seriously hit
profits,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
LAND SALES IN WEST
FAR EXCEED YEAR AGO

LAND sales in the st. Paul Land
Bank district have increased materially
two years ago." stated F. H. Klawon,
president of the Federal Land Bank,
before the meeting of the presidents of
these institutions here with the Fed
eral Farm Loan Board. This bank
makes long-term first mortgage loans
in Minnesota. North Dakota, Wiscon-
sin and Michigan. "This Is true not
only with our sales volume, but of
other concerns which have farms for
SALE Our sales for the first eight
months of the year were SO per cent
above the same period for 1928"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06

The effect Of the tire manufacturers
new competitive policy has been to
change the whole aspect of the business
of selling tires, according to dealers.
Under the new plan, the small shop.
which specialized in the sale OF tires
and in vulcanizing. is rapidly disap-
pearing and dealers who have been slow
to remark the new trend, impelled by
the demands for service on the part of
the motorist as well as the competition
offered by the mail order houses and
chain stores, are being forced out Of
business.
Financing Dealers.
The tire companies. however, are
financing dealers in the setting UP OF
servicing plants whenever possible and
for this reason the manufacturers
rapid rate Of expansion in owned and
controlled retailing has been well con-
cealed The policy Of some Of the tire
makers has been the same as that Of
certain of the oil companies in estab-
fishing Of retail outlets-to conduct
business under the name of the indi-
vidual rather than the company. but at
the same time effecting q financial tie
up or investment in the business which
insures the exclusive handling Of the
manufacturers particular product. In
instances where super-service stations
are established solely by the manufac-
turers the name of the tire company or
subsidiary Is. Of course. employed.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
DECREASE IN LOANS.
BY the Associated Press.


A decrease of S10,000,000 in loans a3of
member banks of the Federal Reserve
System was recorded by the reserve
Board for the week ending September
Is, the last reported, over the preceding
week. While loans on securities regis
tered a gain Of $34, 0o0, 900, the CLASSIC
all other loans declined $4,000, 900.
Loans on securities increased $l7,.
100000 in the Chicago district for .tha
week, but declined $13.000,0o0 In the
New York district. Boston md San
Francisco districts recorded, respective
ly, gains of $16,000,000 and $4,000, 900,
while in the Kansas City district there
was a decline of $7,000,000.
Comparative figures on the loans tor
all member banks were: Week ending
September Is. $17,244. 000, 900; preced-
ing week, $17.254, 000,0 600; same week
year ago, $l5,868, 100000. -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06

stocks have passed into stronger hands.
There has not been the occasion this
time to bale out the distressed opera
tors as was the case in March. A sequel
70 the decline will be indicated from
time to bail out the distressed opera
trading corporations by larger ones.
Wall Street has been through pain.
full operation this week. It has avoided
more serious trouble later by having
this performed while it had plenty Of
vitality to resist its effects.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
WEEKLY CLEARINGS.

NEW YORK, October 5 R.-The
weekly statement of the New York
clearing house shows:
Total surplus and undivided profits,
$2.000,000 increase
Total net demand deposits (average),
81, 684, 800 increase.
Time deposits (average), $l23,52o, 600
increase.
Clear:ngs week ending today, SILL
633, 707, 312.
Clearings week ending September 20,
30 ,474, 076, 804.
Clearings this day, s1,so2,415,243.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
TIRE MANUFACTURERS EXTEND
OPERATIONS IN RETAIL FIELD
Larger u. S. Companies Are Declared Plan
ming Further Development of Service
Stations Throughout Country.

ice" CRY Of the oil companies in their
bid to prevent disruption In the ranks
of their dealers. Hundreds Of millions
of dollars are being expended to this
end.
DFiye-in Stations.
In 1928, according to official figures
Of the tire manufacturing industry, Of
$4,000 dealers controlling IS per cent
of the country's total tire dealer buying
power, 5l.3 per cent had drive-in sta
tions, against more than IS per cent on
June 80 this year.
Based on reports from the same
dealers, the change In percentage since
December 81. 1928, up to and including
June 80, 1929, are shown In the follow
ing table.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
NEW YORK COTTON.
Prices Gain on Reports of Rain
... in Central Belt.

.-.. in Central Belt.
NEW YORK, october S (R,-Rainss
in the central and eastern belts and
relatively steady Liverpool cables were
reflected by advances in the cotton
market during the days early trading
The demand was not active or aggres.
sive, however, and prices reacted
partially under week end realizing or
iiuuidatio and Southern selling.
December contracts sold off from
1899 to 1881 and closed at 1888. The
general market closed steady at net ad-
vances of 2 to S points.
Futures closed steady, 2 to points
higher: october. 1878; December,
l8'83-s4; January, 18-sO-93; March,
1912; May, 19.3a-s4. Spot quiet; mid
ding, 1890.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
Of Federal-American National sold at
1926, 10 at 325 and 9 at 324. Liberty

NaJ1OnaI moved dC zoo.
sand g. Gravel sold at 861a, so shares
of Federal-American Co. common at
40, 20 shares Of Merchants Transfer &
Storage common sold at 116 while the
preferred changed hands at los and
1857. In light trading Mergnnthaler
sold at 1897 and 1037s. Real estate
Mortgage & Guaranty preferred
changed hands to the extent of 70
shares at 73s.
Lanston Monotype led the whole mar
market In volume Of trading. During
the session there was q turnover Of 1876
shares at $50 and two shares at 1917.
The sales included qpe block OF 100
shares.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06

Imports Of automobiles into Argen.
tina during the first seven months OF
this year were 70 per cent greater than
during the corresponding period OF last
year. -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06

SILVER QUOTATIONS. i
NEW YORK. October 5 UP.-Bar sill
yer, so; Mexican dollars. 81.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06

Potomac Electric Power per cent
preferred moved in very light trading
Ht ll1ha, while the 5Z2 per cent issue
moved at 106 and 105B. Ten shares
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06

Receipts of fruits, mostly fancy stock
from the West and New York, continued
fairly heavy throughout the week,
dealers reported, and prices. they say.
continued reasonable to cheap. Sup
plies of New York peaches are grad
ually lessening. The fruit received the
past week was of splendid quality, how
ever, and found ready sale at from So
to 81 o busl1el Few storage peaches
still remain 30 offer the retail trade.
Increased quantities Of pears OF eev.
eral varieties were received the pas
Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06


pare the current quotations of the list
Uf 81 stocks which one of the most dis
cuSsed trading corporations took in, in
exchange for its own shares, with those
of mid-August This would establish the
fact that three-fourths Of them are
anywhere from Is to 40 points lower
than the exchange level which would
which the seller received in exchange
had held their market. Unfortunately
they did not.
One common belief exploded by the
recent reaction in stocks is that invest
ment trusts, or more particularly, trad
ing corporations, stand ready to save
the market situation whenever 1t be-
comes shaky. The possibility that these
holders of securities might themselves
precipitate decline through common
and concentrated desire to take profits
had apparently not entered into the
calculations Of an minimizing element
in Wall Street. This Is what has hap
pened, and, so far, there is not much
evidence that the corporations have
been exchanging their cash for Sc
curities even at the present deprecated
prices.
Slowing Down in Industry.
The course of business in this coun-
! try cannot be separated completely
from the course of the stock market. It
is we'll known that members of the
Federal Reserve have long felt that
| business would only react as stocks
declined in SUFFICIENT degree to affect
industries that thrive on speculative
profits There are distinct indications
of a slowing down in certain lines OF
| industry, notably iron and steel, which
| Is tied in so closely with automobile
! production. On the other hand railroad
car loadings are increasing, which Is one
of the best barometers of trade avail
able Not much progress is being made
in the curtailment of the output OF
crude oil. In spite of this, there Is a
large BODY Of operators in stocks who
are optimistic over oil shares because
of present and prospective earnings
and also from the fact that they have
not been so much exploited as other
| issues.
There is likely to be from now on q
more intimate relation between the
price of q stock and what it earns today
rather than what it may earn two or
three years hence as well as what 1t
| currently returns to its owner. No one
cared much whether call money was
| 10 per cent or 20 per cent or whether
returns on stocks were 2 or per cent
so long as the market was going up
from month to month. 1t is quite a
different proposition, however, to pay
a 10 per cent charge at the end OF q
| month that shows a 80 to SO point
shrinkaRe in stocks carried on margin.
If the market follows the precedent
| OF other prolonged and heavy declines,
it will quiet down after the. necessary
liquidation has been completed and
The Spokane woman. [volume] (Spokane, Wash.) 1921-1935, 1929-06-27

let this one stand. and if you agree
not to interfere any further with your
sons family or his wife or his children
I'll guarantee that in due season you'll
leave this tug a free man."
Il promise" said the old man stead
lily. And his face expressed infinite
relief The pathos of the weakened
little figure now stripped of its AFRO
6ance, and the assertion of long-lat.
ent kindness in his countenance. en-
couraged the hope that happier times
were in store for all the Congdons.
The Governor and Archie were wait
ing on the Huddleston wharf when
Putney and Leary returned from Cal
.derville, bringing two sacks of Heart
O'Dreams mail.
That's fine" said the Governor.
Archie, you and Leary take the
launch and carry the mail over to
Heart ODreams At twelve o'clock
meet me about quarter of a mile
this side of Carey's barricade; Leary's
got the place spotted so he can find
il in the dark
81 have a surprise for you" said
Ruth. when Archie handed over the
mail IF you will step to the door,
bear left ten yards and stop by
bench under our tallest pine, some one
you pretend to like rather particularly
may appear"
Isabel" he exclaimed as she came
toward him out of the shadows and
paused by the bench.
81 haven't yet had the opportunity
to say how happy | am that you are
able to be up. I'm grateful for this
glimpse of you. It's always just
glimpses. But those glimpses do fun
ny things to my heart"
THAT heart of yours, How did 1t
ever manage to survive the strain and
excitement of last night"
'Oh. il functioned splendidly. But
The Spokane woman. [volume] (Spokane, Wash.) 1921-1935, 1929-06-27
Nine

and the danger is still about us, I'm
sorry; with all my heart I'm sorry!
II anything should happen to you it
would be my fault-my very grievous
sin! And maybe there are other men
that | may have said similar things
to-oh, you were not the firstl" she
laughed forlornly. They, too, may
have plunged into the same pit | dug
for you. Oh. how foolish I've been"
Il want you to promise" she was
saying, that you won't in any way
interfere with my cousin here. | can't
have you taking further risks
You would have us run just as
the game grows interesting OF course
we're not going to quit the field and
leave that fellow here To annoy you!
He's dangerous character and were
going to get rid of him."
She was depressed, much as Ruth
lad been a few hours earlier, and his
efforts to win her to a happier frame
of mind were unavailing.
She jumped up quickly and hur
ried away her head bowed. He
watched her until she was swallowed
up i'm the darkness.
ITO be continued next week.
The Spokane woman. [volume] (Spokane, Wash.) 1921-1935, 1929-06-27

muttered the Governor listlessly.
He had responded instantly to
Ruth's confession of impending evil
and Archie, troubled by his friends
change of mood, fastened to end the
interview
Were not going to lose!" he de
clared. tits when the world is bright
est that the shadow of a cloud some
times makes us fear to trust our hap
piness. Goodby and good luck"
She was not treasured, however. and
as she shook hands with them there
were tears in her eyes.
Ito be continued next week.
The Governor quickly recovered his
spirits and with characteristic enthus
iasm began putting the new launch
through its PAGES. When he found
that Putney was skilled in the hand
ling of such craft he cheerfully turned
the launch over to him.
You take it and run up to Calder
vile, where you'd better get supper
Pick up the Heart O'Dreams mail and
bring ii back to Huddleston, and meet
us on the wharf at nightfall. We've
got a heavy nights work ahead of us
Archie and ! are going aboard the tug
to study your fathers case carefully
You may rely upon us to extricate
him from his embarrassments."
AS they boarded the Arthur b.
Grover the Governor babe Archie fol
low him to the bow where Eliphalet
was moodily gazing into the water
mr. Congdon," the Governor be
gan, "as a mere looker-on at the piss
ing show I'm persuaded that you're
hot getting much out of life"
What | do or do not do" cried
the old man, lis none of your Internal
business"
"An error of considerably magni.
tude. I am qualified to offer you ex-
cellent advice based on exact infor-
nation as to your intimate domestic
affairs. You're a meddlesome person
Mr.. Congdon, with slight element OF
cruelty in your makeup and morally
you are skidding. AS a result of your
misery ways and your selfishness
you've just about ruined your life
The penitentiary yawns for you. But
in spite of your cowardly conduct I'm
rather disposed to pull you out of the
hole"
I'll make you a proposition. I've
beard that you make a habit of carry
ing your will around in that umbrella
Give me the thing!"
Eliphalet hesitated. but the Gov
gently pried il from the old mans fin
gers. It was a heavy. bulgy, disrepu
table looking umbrella with battered
curved handle. The Governor opened
II, shook out a number of MANILA en-
velopes, all carefully sealed. and flune
the umbrella from him. As it strucl
the water it spread open and the wine
seized it and bore it gaily away The
Governor watched il for a moment
then began opening the envelopes ant
scanning the contents.
TITS evident from the dates of thes'
wills that you've been steadily cut
ting down the amount of your beques
to your son." the Governor was saying
Watch me, Archie, so you can bea
witness to the destruction of thes'
things; they're all going to feed thu
fishes except this earliest one, which
divides the property in generous lump
between Putney Congdon and his chill
dren, with handsome personal recog
milton of Mrs Congdon. That shall
be preserved"
Now. Mr.. Congdon, II you will
promise me never to make anothe