davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-06-26
to Depre Stocks ep LOUIS the Spectator Convinced
Reserve Board Loans
And Investments Up
S236, ,OOO,O in Week

$4,000, 900 in the Cleveland dis
triet and 100000 at all re-
porting banks.
Holdings of U. S. Government
securities increased $25, ,000.0 in
the. New York district, $4,000, 900
in the Philadelphia district, SILL
100000 in the Richmond district,
10000, 900 in the Cleveland dis
trict, and $73, 100000 at all report
ing banks. Holdings of other
securities declined $l2,000,O0O in
the New York district and In.
creased $1,000, 900 in the Chicago
district, while all reporting banks
show no net change for the week.
Borrowings from Federal Re
serve Banks changed relatively
little in the various Federal Re.
serve districts, total borrowings
of all reporting banks on June
18 aggregating $4,000. 900 as COM
pared with $48.000.0O0 the week
before.
The Washington times., 1930-06-26
Says Railroads Fail
To SOLUe Problems

SAN FRANCISCO. June 20
Civic authorities and traffic agent
managementS were severely criti-
cized today at the American Elec.
trio Railway Association conven
ton for their general failure to
meet national traffic congestion
problems. G. A. Richardson. gen
eral manager of the Chicago Sur
face lines, as chairman of a com,
mittee of local. transportation
men. fired the opening broadside
He was supported by transit
leaders from. all parts Of the
United States. They did not spare
themselves nor hesitate to crit;
cize other transportation man,
agements.
The Washington times., 1930-06-26
Investment Trusts
FRUITI GROVE RS
SEEKRATECUT

r,oa california Growers and
e,,;n,,are. p,l1tective League today
,.o+;+ionad The Interstate COM
,,,oroa r,or,ptllssion to reopen for
roheor;no and reargument the
r,o1;fornias aeeiduous fruit case in
,vhiob tha cs}m mission on July 20,
1oo7 ordered The railroads to re-
duce the freAght rate OH su0ii Nit,p ao
ments from S4,1a 70 % .oo pei wv ",
mounds frDr1 California to all
no;nts cas-, Sf the Rocky Noun
tains Thew are seeking a rate
of SI4s per, 100 pounds.
FolIoU3ng fhis decision the grow
ere flied q suit in the U. S
Court fnr the Northern District
of CaNForuia to set aside the
conomissionSs order. The court dis
missed the pin and an appeal was
taken to THE United States Su.
nrene CbuFt. which directed the
decree ot the lower court be re-
verSed.
The SupFeme Court concIuheu
the commission based its order EN-,
tirely upon the So-called do;-l'
Smith resolution that the com
mission faiBed 10 tlnd the rates
assailed ilk reasonable under the
applicsis / provisions OF the inter
state Or erce act, and that the
comm order was based
uuon a. rpneous construction Of
tha Hot nhith resolution.
The Washington times., 1930-06-26
STEEL TO- Be FORCED down
below 100 IS BELIEF
Crucial Times in Market With Prices Down
Makes Expert Bearish Anaconda
Considers Dividend Rate Cut
BY THE SPECTATOR

These crucial in the stock market Each DAY
prices drift the lows established in the November
panic Thus far support has been tortncomlng IN Le W
prevent American Consolidated Gas American
Telephohe and other hghgrade Leaders from hCIne Se @
1929 lows although nearly all Of the giedge issues have
made new lows for this year .., $500 iii
firmly convinced that Onlteo oCateS Seel OoI W.
sink below the bottom $50 which registered in November
also bheve tina leading stocks will follow steel into
m ou} ground and that another of liquidation will
rf ess stock prices to record low levels
AZ k hesrish prediction print out of
ssref to fair to readers OF this column consoef IL
most important forecast have made thus far this year
1ys tyoere is definite the decline commodity
s steel production and freight car loaohgS tnefe eau
- M Sustained recovery in the stock market
The Washington times., 1930-06-26
Bank President Is
Host to Orphans

Wade H. Cooper president OF
the Commercial National Bank
and United States Savings Bank
of the District, was host to 16
members of the graduating class
of the Epworth Orphanage OF
Columbia, S. c., on their sight
seeing visit to the Nations Capt.
tai for the past week.
This is the second successive
year that Mr.. Cooper has enter
tanned graduates of the orphan
age.
The Washington times., 1930-06-26
AMEND BYLAWS
To AID COPPER

The National Metal Exchange
by an unanimous vote approved
amendments to the bylaws in
volving a new copper contract,
under which the basic grade for
trading in futures will be rough
or blister copper assaying SO per
cent or better. Trading under the
new contract will begin at II
o'clock noon July /. but no trades
specifying delivery in any month
prior to August will be made.
Trading under the old contract
will cease June 80.
1t is anticipated that a more
active market in copper futures
will result for the reason that
the new method of trading will
be practically the same as tina
in effect on the London Metal
Exchange. Arbitrage between
London and New York will be
possible and considerable Of the
trading now done in London, it
is thought. will be transferred to
the National Metal Exchange.
The new copper contract will
be for $4,000 pounds against the
old contract proviSin4 of $4,000
pounds. Fluctuations will be in
hundredths of a cent and the
limit for fluctuations for any one
day will be 2 cents above or be,
low the previous days choice.
Your home or office needs can he
satisfied by the advertisers using the
The Washington times., 1930-06-26
Report on JObless
Goes to President

President Hoover will receive a
report today from the 10000 cen
sus districts in 48 States giving
an accurate account of the unem-
ployment situation.
d, Secretary of Commerce Lamont
will go over the figures with the
President. The statistics have
been gathered at the request OF
the Department of Labor and the
American Federation of Labor.
The Washington times., 1930-06-26
Northern Pacific
Revenues Decline

CHICAGO. June 26.-Northeln
Pacific railway will report May
gross revenues of about 81 400, 600
below the $S.154,373 reported in
May last year, according to
Charles Donnelly. president OF the
road.
Net operating income will be off
about $850,000 from the $1,4l1,-
O64 reported in the same month
q year ago. he stated.
The Washington times., 1930-06-26
NeIU Orleans Store
In Deal With Sears

The department stores of L. A.
Feibelman & Sons. of New Or.
leans and Shreveport, La, have
become affiliated with Sears Roe
buck in merchandise buying ar
entailing no change in
the management.
The Washington times., 1930-06-26
offer WestChester
Debt Certificates

An offering of an issue of 81.
CTS, 500 WeStcheSter county. N
Y. 273 per cent certificates of in.
debtedneSs maturing June 5, 1881,
is being made by Barr Brothers
& Co.. Inc. The certificates are
priced to yield $50 per cent, and
are legal investment for savings
banks and trust funds in New
York.
The Washington times., 1930-06-26
FAST RECOVERY.
MISSING IN
MARKET
Investment Expert Believes
Mart Will Drag Along
For Several More Weeks
BY LEWIS HANEY
Director New York University
Bureau Of Business Research
and Former Economist Of
Federal TroA0 r0V1n pan;sSiO1n

DuGEdu u DUSAHCSS NCSEdECH
and Former Economist Of
Federal Trade Commission
In considering the business fu-
ture, two significant statements
can be made. One is that in the
ordinary course of the business
cycle we might expect recovery
to be under way by October at
the latest. The other statement
is that there is yet no indication
of approaching recovery. This is
Why we find so much pessimiSrn
now.
Usually when a period of de-
preston has come. production has
been promptly curtailed, and the
excess supplies of commodities
soon begin to be reduced. Then
expert students of business trends
begin to see daylight ahead.
Little Liquidation
This time. however. there hes
been so much obstinate optimism
and such a strong propaganda to
maintain production and EN-
ployment, that the readjustment
seems to have been delayed. EX
cess supplies of cotton, wheat.
gasoline. zinc, copper, and a good
many other commodities still ex-
ist to as great an extent as ever.
Liquidation in some lines has
made little If any progress. AS
a result, even the SharpeSt OBJ
servers of busineS strends can not
yet announce definite and posi-
tive signs of a turn.
Explode Money Theory
After all. it is noticeable that
all the optimistic forecasts rely
on hopes.
For example, the big point ad-
varlced in favor of an early up
turn in business is the so-called
lease" in money. But about all
this argument amounts to is that
periods of easy money always
exist during depressions IN buSi-
ness. When business gets good,
money gets higher
We might as well argue that
because it is cooler at night than
in the daytime. therefore GOODNESS
brings the day. Business recov.
cries always follow business de-
preSSionS, but we can no more
say when the recovery will come
by looking at the money market
than we can tell the time OF
night by looking at the ther-
mometer.
The long and short of it is
that Cd we know that business
recovery will come sooner or
later. t2) Judged by the dura-
ton of depressions in the past,
recovery might be expected by
October. But we have no definite
evidence yet as to when it will
actually Come-and it is certainly
not yet in sight.
Doubt Still Exists
This is plainly what the stock
market is telling us. There is so
much doubt concerning any early
pickup in business earnings that
holders of securities have given
I'D hope, of recouping their paper
losses from 1929 levels.
It is we'll to remember, how
ever, that a good many sound
stocks did not participate in the
extravagances of 1929 and are
worth present prices. Some nave
already fully discounted this de-
preston in business.
The stocks which flew the high
est are the ones which have been,
and perhaps still are, too high.
The Washington times., 1930-06-26
A Bearish Forecast
risf1 sentiments expressed

risfT sentiments expressed
: above paragraph may
,nrsasa TAINTED to some read
st;ptport of my forecast.
! h. offer the predictions
y. 1ey \, Ahunn. of Paine Web
r. liz "a lone of Wall Streets
III \ and most conservative
a. ,-s. houses. He expects
ca' Md Gas to sell at $50
3 American Can at 80,
4. Telephone at IT'S,
s. ates Steel at 14O, Radio
" adio-Keith- -Orpheum at
Irs4 kH1ided Corporation at %.
~. ithp basis of current market
II kne. the average price OF
+ tx stocks is about $93 a
81 <Sf~e sing to the levels pro
0cted by Ar Mum, the average
ould. be around $50 share, a
loss of about a per cent
Anaconda directors meet today
Tn take action on the dividend
rates. I have predicted a cut
tn s35O or 81 from the existing
rate of 81. 1t is possible that
the new rate may be. So. Greene
Cananea directors also meet to-
dav and will make sharp cut
in the dividend rate. The com
nanv Is An anaconda subsidiary.
The Washington times., 1930-06-26
Big Bear Departs

Warner Brothers Pictures was
under heavy pressure yesterday
the selling being directed by one
of the more important profes-
sional operators who will lGave
for Europe within a day Or two.
would not be surprised if this
trader covered his short !ires be-
fore departing for abr04d so
Warner Brothers should have a
fair run-up today or tomorrow
This reminds me that Chester
Dale, of w. C. Langley & Co., has
returned from Europe. With Mr.
Dale back in harness. there
should be some real action in
stocks of electric bond AMI share
and it's affiliated companies.
The Washington times., 1930-06-26
Corn Products Dividend

One of the bright spots on the
financial horizon is Corn Products
Refining whose directors are ex-
pected to declare a So cent ex-
ira dividend at their meeting TO-
morrow. A 50-cent extra was paid
a year ago. The special payment
at the beginning of this year.
though, was smaller than that
voted at the start of 1929. Earn
ings for the first half of the year
probably will reach $3.50 a
share, amply covering dividend re-
quirements, which are at the
rate of So year.
The unfavorable report on car
loadings for the week ended June
IA called forth the remark from
well-informed observers of bust
ness conditions that little i'm,
provement could be expected in
freight loading oefore September
The Washington times., 1930-06-26
American Tobacco split-up

AS nredicted here several months
600 American Tobacco directors
Yesterday voted to split the com
mon stock On a z-ior-l paoio. "a" "a"
a result. the StocK IS IeSUolGu ~
nrice range that will make It
voaro attractive to traders. A S4
nxtra dividend will be paid on the
oId stock and the new shares will
~ ,1Ioccc o,, S5 basis. I have
~ hoeifatioo IN recommending
An,erican T1ybacco new stock AS
az 49, ~excol,ent} purchase for any
der of thtx column. The COM
onnn,e aarnlir1gs are increasing
ren;dIv @ -pve11 in these times Of
denressionI land 1880 net profits
,1rahe hlu. vall set new record
for all times
At yesterdays closing price o. o.
],;aId hetfsyj than lit per cent.
a. th;e rare, investors begin to
1,orrv w ahorT the safety of the So
rS,Uidend % rafe. despite Chrysler'$ s
excnlle1t cash position.
Investment Trusts
r. bas ia In argued that invest
,,,a,,+ t,,,yts are a good influence
on the stoCS Market, ats1 haIoo .1tao
" T the market UnqueStionably'
The Washington times., 1930-06-26

Your home or office needs can he
satisfied by the advertisers using the
BUSINESS EERvICE DIRECTORY Of
tOday's Times Classified Ads.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-07
Minimizing Ultraviolet Rays by Polish
Prevents Auto From Getting Sunburned

wax can always be applied as long as
there is a finish on the car. But the
finish must be thoroughly cleaned be-
fore a wax can be applied satisfactorily.
1t Is not enough to have me car washed.
It must be polished, also. to remove
chalked pigment and brafflc film. II
the car has not been polished for some
time, it is best to make two or three
applications of the polish before using
wax, making sure to remove every bit
of chalked pigment and dirt fllm.
Then apply the polishing wax, using
it sparingly and rubbing it vigorously
to develop a good shine. 1t will prob
ably not produce any higher luster than
was developed with the polish, but it
will give a luster which will last for
months, and it will protect the finish
as well.
In the Summer time, there is great
deal more ultra violet in the sunlight
than in the Winter time, so it is es-
pecially important to have the car pol
ished and waxed regularly in Summer.
Waxing is important also in the South
ern States, where there is lot of sun
shine throughout the year and where
finishes become Weathered a great deal
more rapidly than they do in the North.
Water absorption is also injurious to
automotive finishes and can be pre-
vented by waxing the car. Water flows
out in a sheet on a leathered finish, in
dicating moisture absorption, but it
forms in droplets on waxed surface,
showing that the wax prevents the
water penetrating into the pores of the
finish.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-07
PARTICULAR ATTENTION NEEDED
TO PROTECT SCHOOL CHILDREN
Parents and Teachers as Well as Motorists
Should Unite to Safeguard Lives !
of Young Students. 81 s

each child is pledged individually 10 do
three things-play safely, warn others
and, If opportunity offers, save human
life. In class rooms posters and other
drawings can be made by the older
children In the form Of warnings.
Safety instructions can take many
forms, and where such instruction Is
part of the curriculum at home and In
school accidental death to children IN
the community Is reduced materially. -
Parental instruction. soo
II parents and teachers can inaugus
rate q system of safety for childrehs
automobile drivers as well can do their
part to protect them. When children
play on the sidewalks or in the yard
they are apt to dash out into the street
for ball or after a companion quite
unexpectedly. There is extreme danger
in this, because the child is absorbed fl
his play, thinks Of no approaching Yes
moves so fast driver sometimes cannot
stop his machine quickly enough to
avoid accident. For that reason an atf=
tomobile driver should go slowly and
carefully when nearing school interSec-
tions or passing through streets with
children at play. He should never allow
a child to hitch to his machine, whether
the youngster be roller skating. riding q
bicycle or merely hanging on, for he can
easily lose his balance and be thrown
to the pavement and hit by cars which
may be following behind -
What drivers and older folks needGto
keep in mind is the fact that children
are not responsible and can never be
blamed If an accident occurs. Always
assume that they are not looking for
you, that they will do the unexpected
thing. Drive cautiously where childr61
are apt to congregate, or, better still. II
it Is possible, keep away from such Sec
tions altogether. ser
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-07

How many people knew that an auto
mobile gets Sunburned? A sunbrrned
automobile sounds ridiculous, yet 1t is
true that the sun does alter the appear
ance of the finish of a motor car
Every one knows that an automobile
finish gradually loses its luster and
beauty If it is not polished at regular
intervals. Two things take place. First,
thin f1lm OF dirt accumulates on the
finish and becomes baked there by the
sun and engine heat. Second, the fin
ish itself becomes weathered through
frequent exposure to the sun, rain, heat
and cold.
The element most destructive to auto
mobile finishes is the ultraviolet ray
of the sun. This is the ray which is
chiefly responsible for burning or tan
ming the skin of human being
Even the best paints, however, don't
last forever. They slowly wear out
through microscopic erosion of the sur
face, releasing tiny pigment particles
which were originally put into the
finish to color it. The ultraviolet rays
OF the sun cause this slow disintegra-
ton.
When polish is rubbed on a car finish
and the cloth becomes stained with the
color OF the car, there are simply trans
ferred to the cloth small particles OF
chalked pigment which are no longer a
part of the finish, and which should
be removed anyway. AS long as these
particles, and the hardened dirt film,
cover the finish, there will be no luster
When, however, the "traflc film" and
chalked pigment are removed the orig
inal color and luster of the finish is
restored, and 1t Is Just as bright and
shiny as when the car was new.
If the finish is very old, or has been
very thin at the start, it may have
weathered right through to the under
coat. Should this happen it will be
apparent when the car is polished, be-
cause the undercoat is usually of a diff
ferent and darker color. In this case
at the spots where the under coat is
showing.
There are two ways of prolonging the
1t from the sun as much as possible.
Second, by having 1t waxed.
Ordinary window glass excludes the
ultraviolet rays OF the sun. One can
sit behind closed window all day long
and not get Sunburned, even though the
sun is shining directly on the person.
Polishing wax, like window glass, ex-
ciudes the ultra violet rays of the sun.
II, therefore, there is applied thin
coating Of wax over the finish, 1t will
filter out the ultraviolet rays and re-
tard weathering until the wax wears
of
1t Is best to apply polishing wax
10 car as soon as 1t Is purchased. II,
however, this Is neglected, polishing
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-07
One Third of All Autos In United States
Are Contained Within 127 Large Cities

One-third Of all automobiles in the
Omitted States are contained in 1877
cities, according to z. z. Duffy high
way educational writer. Chicago alone
has one-third of all the automobiles
in Illinois. Minneapolis and st. Paul
together have one-flfth of all cars in
Minnesota. Memphis citizens own one
eighth of Tennessee motor vehicles.
More than a fourth of CALIFORNIA; cars
TANNED in between the Hudson River
and the Atlantic, has one-thtrd Of the
cars in New York State.
A trifie less than one thousand cars
are being purchased in Chicago every
week-more than two miles of vehicles.
Trafac congestion is therefore a civic
ailrnent that explains itself Its remedy
"a as clearly evident as its cause. A
peek into any city at $3.50 In the morn
ing and five In the evening reveals q
throng Of cars that is no more tangled
than the nerves OF their drivers. Inc
remedy is not traff1c lights, prohibitory
parking rules, and so on--the remedy Is
the provision of more space
In most American cities the auto
mobile has passed the peak Of its ut
most efficiency: 1t is on the down grace.
Cars are becoming OF less ana less
utility this despite the fact that the
economic and social value OF motoriza-
2on is increasingly evident.
The trafic problem directly affects
zae wellbeing and comfort of COM
1unity; it is of such Importance that
every population center should develop
DEFINITE plan of procedure Despite
the urgent need for well directed city
planning less than 500 cities have CITY,
planning commissions.
The 1880 census shows that with Dut
few exceptions American citles are
growing rapidly That. coupled WIZ
- the sh- ~ its for motor
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-07

ing and commercial use of the roads,
intensif1es traff1c congestion.
Although the wide pavement has
demonstrated its effectiveness In re-
lieving traffic congestion, there stu is
a scarcity even in the most populous
cities, where the need is greatest City
planning largely means adjusting earlier
mistakes. Large cities are faced with
the problem OF cutting through new
rights of way to end bottlenecks and
of cutting away the fronts of struc-
lures so that streets may be widened.
MANY smaller cities still have time to
adjust themselves to motor traffic with
out undue expense.
Todays need is for more space. 1t is
surprising the volume of trafic wide
streets can handle. But this space
should be smoothly paved, so that 1t will
serve without constant patching. Patch
ing In itself Is a large contributor to
congestion. The ideal city, so far as
transportation Is concerned, is one
whose business district may be quickly
reached from suburban areas with
speed, comfort and safety. Progress of
the last decade indicates that the ideal
city is possible, but how many can you
name?