davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-05-27
WICK HOLDERS
VOTE MERGER

PHILADELPHIA, May 27.-Com-
pletion of the merger with Drug,
Inc, of Wick Chemical Company,
a Delaware corporation, with Cper-
ating offices and plants here and
in Greensboro. N. c., and addi-
tional producing laboratories in
Canada, Mexico, Colombia and
Spain, was approved today by
stockholders.
Wick had it's beginning in the
historic drug store at Greensboro,
N. c., where o. Henry (William
Sidney Porter) learned the profeS-
sion of pharmacy.
Wick has attained leadership in
it's field in the United States and
has distribution in over 10 coun-
tries abroad. Today the 100000
shares of Wick Chemical Company
stock is convertible into 456,000
shares Of Drug, Inc, in a ratio Of
57-1O0 for l, having market val
uation of nearly $40,000,000,
This merger, it is stated, will
not affect the management per
sonnel or policies of Wick Chem
ical Company. H. S. Richard
son, chairman of its board Of
directors, and Lunsford Rich
ardson, president, sons of the
founder, will continue as its
directing heads, and H. S. Har-
rison will be added to the di-
recting board of Drug, Inc.
The Washington times., 1930-05-27
So Basis for Austin
Nichols Prior Pfd.

NEW YORK, May 27.-The
tors of the Austin Nichols Com
pany have declared an initial
quarterly dividend of rs cents a
share on the prior "a" stock, plac-
ing the issue on a So annual
basis. Dividend is payable Au-
gust / to stock of record July Is.
Preliminary report for the year
ended April 80 shows a net profit
of about $4,000 after charges
and taxes, as compared with a
net of $97,235 in the preceding
year.
On April 80 bank loans of the
company totaled 100000, as
against $1,O50,000 a year ago.
Cash receivables and inventory
remained about the same as in
the previous year.
The Washington times., 1930-05-27
SPRAY CONTROLS MALADY

A new spray containing zinc
and lime which promises to give
commercial control of bacterial
spot of peaches has been developed
by the United States Department
of Agriculture. This discovery is
especially important, since this is
the first time, so far as known.
that a bacterial disease of fruits
has been brought under direct
control by spraying, says the de.
partment.
Bacterial spot has been known
to plant-disease specialists for
about 20 years, but it is only
within the past 10 or IL years that
the disease has become seriously
destructive over extensive areas
1t occurs in practically all peach
sections of the eastern half of the
country, but causes serious loss
mainly in sections in which the
soils are light and comparatively
low in fertility.
The Washington times., 1930-05-27
BOARD
SHOWS LOAN
GAINS
Securities Loans Increase
$76,000,0oo; Time Funds
Up and Borrowings Down

The Federal Reserve Boards
condition statement Of weekly re-
porting member banks in leading
cities on May 81, issued yester-
day, shows increases for the week
of $45,000,0O0 in loans and in
vestments and $32, 100000 in time
deposits and decreases of $685.
100000 in net demand deposits
and $4,000,000 in borrowings from
Federal Reserve banks.
Loans on securities increased
SIG, 100000 at all reporting banks,
increases of $56,000,000 in the
New York district, $28,000,000 in
the Chicago district, $12,O00,000
in the Cleveland district and ST.
900 Q 0 in the San Francisco dis
trict being partly offset by de-
creases Of $8,000,000 in the st.
Louis District and $6,000,O00 each
in the Philadelphia and Mime
apolis districts.
"All other" loans declined
$50 100000 in the New York dis
trict, $6,OO0,O00 in the Chicago
district and $76,000,000 at all re-
porting banks, and increased
$8,O00,O00 in the Boston dis
trictS.
Holdings of U. s. Government
securities increased $22, 100000 in
the st. Louis district and de-
clined $9,OOO,00O in the Chicago
district, all reporting banks
showing a net increase Of SILL.
100000. Holdings of other Sc
curitieS increased $8,000,0C0 each
in the New York and Cleveland
districts, $6,OOO,OOO in the Chi
cago district and $33,000,O00 at
all reporting banks.
The principal change in bor-
roWings from Federal Reserve
banks for the week was a reduc-
ton of $5,000,000 at the Federal
Reserve Bank of Cleveland.
The Washington times., 1930-05-27
dng Company Ruor Rise in Utility Shares A0e
Cooperation to Cure
OverprOductiOn of Oil
s. 0. Officials Believe

more attractive today than evel
before. He adds;
Industrial peace, like peace
between nations, must depend
upon mutual sympathy and un-
derstanding between all sec
tiOnS of industry, and upon ap.
preaching a large measure OF
industrial democracy. The day
Of achievement by brute force
is gone. The worker has a
right to a voice in the govern
ing Of affairs relating to his
job. 1t helps to lower costs to
treat men right. There is no
substitute for fair wages. 1t
pays to pay we'll"
Teagle said. that the worker
who is laid aside must be main
tained from the product of active
capital and labor Of the country
rather than from general taxa
ton.
The Washington times., 1930-05-27
DISCOUNT CUTS
APPROVED

That the recent lowering OF
discount rates throughout the
world was a justifiable attempt
to make credit flow more easily
into essential business and there
by encourage trade recovery, is
the opinion exercised by the j.
Henry Schroeder Banking Corpo-
ration of New York, in its latest
contribution to the Quarterly Re
view, published by j. Henry
Schroeder and Company, Of Lon
don.
The Schroeder corporation be-
Iieves that the first four months
Of 1890 have about completed the
economic readjuStmentS neceS-
sarily attendant upon the cor
rection of industrial overproduc-
ton of last year in the United
States, and thinks that, were it
not for the approaching dull
period, the long-awaited business
recovery would be at hand.
The Schroeder firm also believes
that in spite of the decline in
business activity in the United
States in 1880 as compared with
the unusual prosperous conditions
prevailing in the first part Of
1929, the growth trend is still
present to a substantial degree,
and justified in many cases the
diScounting of induStri8 earn
ingS, to a reasonable extent, in
the stock market. Continuing,
the review states that it even
may not be too much to expect
that the world will soon enter
upon a period of expanding busi,
ness under the stimulus Of easy
money conditions. Speaking Of
the credit situation, the Schro-
der corporation says:
Few times in the history of
the world have more sincere
efforts been made to master
the machinery of production,
distribution and credit than is
being made today. The study of
this potential economic Fran
kenStein has passed from ma
tiOnal to international realms
with amazing rapidity. The
money centerS of the world
have seized quickly upon the
opportunity of providing easy
credit when circumstances be-
came such that low interest
rates might be expected to be
constructive"
The Washington times., 1930-05-27
BOARD D { Al 5
IN GRAIN
ENDED
Farm Board Head Says Move
Awaits Disposal of Sur
plus Supply of Wheat

The Federal Farm Board will
abandon it's activities in the
wheat market as soon as the
existing wheat surplus is dis
posed Of, Chairman Alexander
Legge announced yesterday.
That this move is compare
lively close at hand was indi.
Gated by Legge's further state
ment that, while wheat exports
for April were considerably under
those for the same month last
year, exports are picking up
briSkly and figures for May
should show very definite i'm
provement.
Surplus ShrinkS
The present crop surplus will
be considerably less than had
been expected, he said. Kansas
reports are that the grain about
ready for harvest there Is OF
finest quality, but is small IN
quantity. This fact, coupled with
tie Improvement in foreign mar.
kets, is expected to materially
cut down the surplus in storage,
Legge said.
The chairman stated further
that the board will not engage
in further wheat operations as
a stabilization move or otherwise
unless some absolute emergency
arises, and we hope none will"
The Sterilization Corporation
will dispose of its existing stock
of wheat to millers, and Will
then stand by"
That the wheat crisis is virtually
over was also indicated by Legge's
statement that the board will make
little or no effort to handle the
actual export marketing Of the
present surplus.
Hands-Off Policy
Existing private export agencies.
he said, are quite capable OF
handling the situation and the
board intends to follow hands
off policy in the export field.
The recent purchase Of the
Hall-Baker concern, which had a
well organized export organiza-
ton, will place the Farmers Ma
tional Grain Corporation in a
position to export such grain as
it may see fit, but he expressed
the opinion that this, too, would
be unnecessary.
The Washington times., 1930-05-27
MOTORS VOTES
STOCK ISSUE

WILMING GTON, May 81.
Stockholders Of General Motors
Corporation authorized the
amendment to the certificate Of
incorporation to provide for an
issue of preferred stock without
par value, at a meeting held in
Wilmington today.
It is proposed to offer 1875
366 shares of the new preferred
stock without par value, SIS
ieries, in exchange for the out
standing Z per cent preferred
stock, 6 per cent debenture stock
and 6 per cent preferred stock
on the basis of 1.35 shares of
the new preferred stock for each
share of the outstanding 6 per
cent preferred stock, and lis
shares of the new preferred stock
for each share of the outstand-
ing 6 per cent debenture stock
Exchanges are expected to be
made on and after June 7, 1880.
Notices will be sent to stock
holders prior to the date of ex-
change.
The Washington times., 1930-05-27
CHANGES TAKE
HOLIDAYS

NEW YORK, May 27.-Virtually
all of the security and commodity
exchanges throughout the coun-
try will close down for a triple
holiday at the weekend as a re-
suit of the decisions of the gov
erning committees voting Sat
urday, May 81. a holiday. Friday.
Memorial Day, being a national
holiday, all the exchanges are
closed.
Banks. however, will reopen for
business during the usual Satur-
day banking hours, following the
observance of Memorial Day.
Board of governors Of the New
York Stock Exchange today voted
Saturday a holiday, making the
second triple holiday for the ex-
change in less than two months.
The last time the exchange closed
for three days was at Easter.
New York Curb Exchange, fol-
lowing the action of the New
York Stock Exchange, also voted
to close on Saturday. Similar
action has also been taken by
the Chicago Stock Exchange,
Cleveland Stock Exchange and
the Philadelphia Stock Exchange
Securities market on the New
York Produce Exchange will be
closed Saturday, but the grain
and other exchanges on the pro.
duce will remain open.
Among the commodity ex.
changes to close will be the cot
ton, cocoa and rubber markets.
The Chicago and Winnipeg grain
boards and the Liverpool and
New orleans cotton exchanges
will remain open.
The Washington times., 1930-05-27
Sinclair Oil Capital
Stock Increase Filed

The Corporation Trust Com
pany yesterday filed with the
secretary of State for New York
a certificate of increase in the
capital stock of the Sinclair Con-
solidated Oil Corporation, under
which the company's share cap
ital will be increased from TO-
100000 no par shares to TO-
100000 no par shares. The tax
paid on filing the certificate
totaled $500,000. The increase in
capital of the Sinclair Company
received the approval of stock
holders last week, and provides
for the acquisition of the $780,
100000 Pierce Oil Corporation
and possibly the later consolida-
ton with the Prairie Oil and
Gas Company. a matter now un-
der negotiation.
The Washington times., 1930-05-27
sharper advance than it has ex
perienced in many weeks.

sharper advance than it has ex-
perienced in many weeks.
United Aircraft is rapidly re-
suming it's former status as a
speculative favorite. Important
operators believe aircraft stocks
will be among the most active
issue in the next important ad-
vance of the market.
Gunther-Law
One of the inactive issues on
the curb exchange is the stock
of Rudolph Guenther-RuSsell Law,
Inc, which is also listed on the
Chicago curb exchange. The
company is probably the largest
financial advertising agency in
New York. The stock pays div
idends at the annual rate OF 81
and net profits in 1929 were
$500 a share.
There are only 100000 shares
outstanding, of which more than
100000 have been taken out OF
the market for permanent invest
ment. EearningS thus far this
year have been running at a IA
vorable rate, despite the fact that
the financial district has been
through one of the most diSaS-
trous periods in its history. Net
profits for May will be well above
those of April. A group has
taken the stock in hand and
within the next week or two, eX-
poets to run the price up around
35. Success of the movement is
anticipated, as the result of in
siders knowledge that the man
agement plans to use part of any
surplus for extra dividend pay
mentS.
Detroit Aircraft Corp. reports
gross sale of $249,300 and net
sales of $195, ,O48 for the month
ending May Is. This does not
include deliveries on order s
placed before April Is. New Gov
ernment and Airline contracts
are expected to increase sales
over the next four months. re-
sulting N a new high record.
Montgomery Ward
Quiet accumulation of Mont
gomery Ward continues. New
high for the move yesterday JUS
titled recommendation in this col.
umn. I would buy the stock
here.
The Washington times., 1930-05-27
Sinclair Check Given
Government for Oil

A check for $2,906,O0O of the
Sinclair Crude Oil Production
Company yesterday was deposited
in the Federal Reserve Bank OF
New York to the credit of the
United States Government, mark
ing one of the final chapters in
the oil scandals.
Former Senator Atlee 2omerene,
of the special counsel engaged by
the Government to prosecute Ed
ward L. Doheny and Harry F.
Sinclair, called Hoover to inform
him that he had made a settle
ment "out of court" as provided
in an act of Congress passed last
week.
This brings the total recovered
for the Government out Of the
voiding of the Teapot Dome
leases to approximately $30,oOO,-
600. The prosecutions are now
practically closed, 1t was stated.
The Washington times., 1930-05-27

NEW YORK, May u d.N.S0'
The oil industry will solve its over
production problem through a
thorough grasp of the situation.
through cooperation and through
recognition by the industry itself
that it is better to produce nine
barrels and make a reasonable
profit than produce 10 barrels and
sell at q loss.
This is the financial philosophy
of walter C. Teagle, head Of Amer
ica's largest oil company, Stand
ard OIL of New Jersey, as ex-
pressed in an interview with B. c.
Forbes, editor of Forbes Magazine.
Teagle said that more producers
are now learning that it is more
profitable to keep excess supplies
of oil in the ground than to bring
them out of the ground and SUI
regards oil securities as distinctly
The Washington times., 1930-05-27
Bond Frees Pastor
Seized as BigGnliSt

BOSCOBEL, Wis, May 81 Il.
N.S0 F. E. Osborne pastor
of the Christian Church, yesterday
was freed on $4,000 bond pending
a hearing on charges of bigamy
preferred against him by the
State board of his church. He is
accused of wedding Mrs. Minthe
Taylor at Mount Hope, Wis, in
1929 without having separated
legally from Mrs. Nina R. Os-
borne, of Wilkes-Barre, Pa.
The pastor claimed a brother,
who resernbled him, impersonated
him in marrying the Pennsyl-
Vania woman.
The Washington times., 1930-05-27
POWer Site Lease
Scored by Indians

TIL Federal Power Commission
lease of the Flathead (Mont.) site
to Electric Bond and Share Com
pany interests was attacked by
a Flathead tribal leader yesterday
as a fraud against the Indians"
In a telegram to Chairman
Frazier, Senate Indian Affairs
Committee, Caville Dupuis, chair
man of the Flathead council, de-
clared the lease was against
wishes and advice of the tribe.
Dupuis urged passage of the
Shipstead and Kvale resolutions,
proposing to suspend all licensing
of power permits until a new
Power Commission is appointed,
The Washington times., 1930-05-27
LOCAL STOCKS
FURNISHED by W. B. Hibbs & Coz
SALES

FURNISHED by W. B. Hibbs & Coz
SALES
Georgetown Gas IS, 5000
1924.
Washington Railway and Elec-
trio 4s, $1,000@87.
Capital Traction Co.. 1O@68,
10067, 1O0661s, 1O@661s, 100
661s, 10@66As, 1906.
Norfolk and Western Steamboat
rtS. wi, 1@17A, 1@17A, 2@17?.
Potomac Electric 51as pfd, 100
lot, 10@1O7, 10@107, 10@1O7.
10@107, 1O@107. 10@107, 100
lot, 1O@1O7, 1O@107, 10@107,
10@1O7, 10@1O7, 10@107, 100
lot, 10@107, 10@107.
Potomac Electric 512s pfd, 100
LOT, 10@1O7, 10@1O7, 20@1O7, SO
LOT.
Washington Railway and Elec-
trio pfd, 1@98A, 5@98A.
Chevy Chase Dairy pfd, 20 1O3.
Lanston Monotype,, 10@124.
Peoples Drug Stores pfd, 20 108.
AFTER CALL
Mergenthaler Linotype, SO
1021a.
Washington Gas IS, 5000
1925.
Washington Gas IS A, $1,000
102A.
Mergenthaler Linotype, So
1921.
The Washington times., 1930-05-27
Soviet Extending
CANNING Industry

Expansion in the Soviet govern
ments canning industry has been
undertaken on a large scale, with
new factories and extensive oper
ations under way, the Commerce
Department reported yesterday.
The program for the coming
year includes the production of
315,OO0,0OO cans of fruit, Vegeta-
bles and meats.
The Washington times., 1930-05-27
Wheat Exports ShOU
Increase in ADriL

American exports of wheat dur
ing April totaled $3.50, 900 bushels,
against 3,942,000 in April, 1929,
the Commerce Department re-
ported yesterday. Exports for
March of this year amounted to
2,414,000 bushels.
Exports for the first four
months of 1880, however, are still
well above the 1929 level. being
1885. 900 bushels to 100000,
The Washington times., 1930-05-27
Ingersoll- Rand

One of these days, the smarter
traders in the Street will awake
to a realization of the possibili-
ties offered by Ingersoll-Rand.
This company's profits are being
increased enormously through
manufacture of equipment for
the natural gas companies, which
are entering the greatest period
of expansion in the history Of the
industry. 1t is predicted in quar-
ters close to the company that
IngerSoll-Rand soon will sell near
$500 a share.
American Natural Gas, recon-
mended here a couple of weeks
ago, is down again to the levels
that prevailed at that time. I
would recommend it again, in
anticipation of rise to Is or
higher.
Westinghouse
Activity and pronounced
strength in Westinghouse Electri-
cal and Manufacturing yesterday
reflected reports that a split up
of the stock may take place in
the near future, news of which
was printed yesterday. On basis
Of earnings and current dividend,
decentralization and resultant
benefit to stockholders would be
warranted. Crossing 180, West
inghouse would look ripe for q
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-05-18
Night

left Tuesday for san Antonio. Lor-
ena and Dallas for q visit with rela.
tives.
Mr.. and Mrs. w. r. Hart and
family eve returned from a short
trip to San Antonio. where Mr.. Hart
attended the convention OF the Ma
tional Loan association at the Plaza
hotel.
Mr.. and Mrs. J. r. Ryan OF Har-
lingen and Mr.. and Mrs. ONeil OF
Edinburg were guests Sunday OF %.
Blair.
Chas. Turner left Tuesday Tor
San Antonio. where he has business.
Mr.. and Mrs. II. J. Bowie and
daughter. Maxine. have gone 70 Fort
Worth. where they will meet their
daughter, MaTvolene. who "a q stu.
dent at the Texas Christian uni
versity. The party viii then leave
to spend the summer months In
Findlay. Ohio.
Frank Crow and Stephen Jones
are in San Antonio on business.
Mr.. and M William Refs and
family will leave soon for a stay
In Hot Springs, Arkansas and points
In Missouri.
Mrs. ". j. E.keIkamp has as her
guest he ~rsister, Miss Nashe OF San
Antonio.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-05-18
Federation Awards Winners
OF Annual History Contest

students and eight from junior high.
They were then studied by the his
toricai committee Of the City
Federation, with Mrs. v. /. Conrad.
chairman, and Mrs. E. G. Holiday
and Mrs. G. s. Stell.
For final judgement, the papers
were sent to DR.. r. 3. Cousins, head
Of the Kingsville College Of Arts
and Sciences. They were passed on
there by Dr.. Cousins, L. S. Cornell,
head Of the Economics depart
ment. j. z. Conner. Of the history
department. All judging vas by
numbers and no one connected
with passing on the essays had any
knowledge Of the identify OF the
writer.
The papers were graded on me-
chanical plan. neatness, grammar
and rhetorical accuracy. literary
style, force and effect. historical
and biographical material, and
fairness Of treatment
The prizes were awarded az the
graduating exercises Of the two
high schools. and are given each
year by Mrs. v. Conrad through
the City Federation.
Some OF the essays were especial
" cleverly composed and illustrated
with a high sense Of originality.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-05-18

Closing Of school brought TO a
close also the annual historical
contest conducted BY the City
Federation with the announcement
Of prize winners for historical es-
says. Lucy Marie Brulay was win
her OF first prize IN the senior high
school, the essay subject IN this de-
partment bein "Stonewall Jackson
Resale Pchl was winner OF second
prize. $3.50 in gold, while Vidal
Longoria won third place with a
prize Of IS in gold. Prizes for first,
second and third places in both the
senior and junior high were the
same.
w. II. Benway and Albert Ritke
Jr. received honorable mention in
the senior high division.
Robert E. Lee was the subject Of
junior high essays. Milton West Jr.
was awarded first prize, Betty
Rockwell. second, Lillian Daniels,
third, and honorable mention was
given the papers OF Josephine KEN
my and Cora Alice Neel.
Federation officials IN charge Of
the contest were high In their
praise Of the papers entered by stu
dents n this years contest. From
the mass Of 1853. local teachers
selected ten papers OF senior high
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-05-18
Elizabeth Bingham
Celebrates Birthday

Little Elizabeth Bingham cele-
brated her ninth birthday Friday
afternoon at the home Of her par
ents. Nh. and Mrs. r. ]. Bingham,
with a number OF her little friends.
Outdoor games and contests were
enjoyed, and all the children re-
ceived favors. Refreshments we're
served, and q pretty white birthday
cake. topped BY pink candles. was
cut.
Those attending were Matte Mae
Yates, Newlyn Dodson, Trula Joyce
Wells. Ann Wells, Elizabeth Ann
Tandy. Betty Joe Samuels. Albert
Lee Smith, Junior Watson. Bill Dean.
Doris Mckay. Mary Brown, Ger
trude Gotke, Wayne Gotke. Mary
Ann Greene, Elizabeth Wilson, Rob-
ert Wells, Barbara Black. Ruth
Black. Helen Edelstein, Ruthie Ed
elstein, Mildsed Dorfman, Elaine
Dorfman, Elaine Caldwell, Rebecca
villarreal, Elizabeth Bingham, Ed
ward Dunkleberg. Kathryn Bing-
ham and Pat MacManus.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-05-18
Visitors In
Rentfw Home
Entertained

DR.. and Mrs. J. L. Rentfro are en-
tertaining over the weekend, .
party OF house guests and their
short stay is being made enjoyable
BY small, informal Inequalities.
The guests are Mrs. George r.
Corby and Mrs. Lee Timon Of Phil
adelphia, Pa, Mrs. M. p. Adair and
Mrs. Brown Beasley Of Beeville. and
Mr.. and Mrs. Thomas Yarrell OF
san Antonio. Mr.. and Mrs. Yarrell
arrived Saturday afternoon.
Mrs. Howell McCampbell was most
eSs at the country club Saturday
afternoon, entertaining five tables
of guests at bridge. with the out-of-
town visitors being complimented.
A profusion of summer flowers dec
Grated the reception suite, and a
dainty refreshment course was serv-
ed following the games.
Today. DR.. and Mrs. Rentfro are
entertaining their guests and several
Brownsville friends on a fishing
party at Point Isabel The party will
be taken out in the Rentfros' boat
at the point.