davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21
MOODY SURE 1881
WILL SEE UPTURN
Necessary DefIation Has
Gone Far Enough to Supply
Basis for Recovery.
BY JOHN MOODY,

President, Moody's Investors Service
Special Dispatch to The Star.
NEW YORK, December 90 can
not think of any time in the past
when the coming of a new year could
be greeted with more all-around relief
than the present. That does not mean.
of course, that 1881, simply because it
involves change of date. will exert
some mystic power on the whole busi-
ness situation.
But considering what has happened
this past year, there is bound to be a
turn for the better soon. Necessary de-
fiation has proceeded in all lines now.
In the early months of 1880 we had
price defiation among commodities and
this has gone far enough to provide
the basis for a recovery. In fact. tax
Ing in sail has gone on in all DEPART
mentS of commercial and industrial
lines for more than year. In indus
try, the work of correction has been
largely-if not entirely-completed
Now, more recently, it has been the
financial community that has been
rapidly debating. A certain number of
over-extended banks have had to face
the situation by closing their doors.
The work of consolidation and retrench-
ment among brokers and security
houses Of all kinds goes on This part
of the corrective process always in
wolves some startling developments
that tend to unsettle confidence for
the moment No doubt, a large part
of this deflation, too, has been accom-
plished. But it has been later in max
ing its appearance than the industrial
deflation and the passing of 1880 does
not leave the situation completely
cured
On this account, it would be rash TO
look for quick improvement from this
point on. It is only distorted perspec-
tive that regards a quick and sudden
recovery as probable now. The turn
for the better is far more apt to make
its appearance in the Spring of the
year than at any other time That will
give us several months to iron out the
difficulties that still exist
Perhaps the most fortunate thing in
the whole situation is the soberness and
calmness of thought that I see every
where now compared with a year ago.
That will be a powerful influence in
starting us off on the right foot when
we do start and it is also insurance
against the depression continuing too
far. see, as a matter of fact, every
reason to suppose that the situation.
will turn about within comparatively
few months.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21
BOND PRICES GAIN QUICKLY
AS BANK SITUATION CLEARS

dustrials. At the end of the week 10
railroad bonds stood at 1908 against SO
on Wednesday and 1908 a week ago.
Ten industrals recovered to 85.7 after
touching 1873 on Wednesday and 85.5
a week ago Ten utilities were at 97.7
against their low point of 96.6.
Issues of secondary merit. such as st.
Louis-san Francisco 4i2s, Erie IS.
Dodge Bros Is, and Cities Service SIS of
1850, fluctuated to 8 points in the
week. High-grade descriptions like
Atchison general As, and American
Telephone 5ias moved within the COM
pass of a point and foreign dollar bonds
such as 1taly's rs, German 512S and
Japanese 5I2s varied 2 TO 8 points.
Outside developments were more in
the markets favor as the week ended,
with reports of a heavy Christmas re-
tail trade and announcements of the
formation Of pools TO support outside
markets. One such pool was formed in
Montreal, where its work was shown in
the firmness Of Canadian investment
securities. Another was reported
formed by New York bankers to prop
up bond prices. The weakness of rail-
road securities, which had extended in
its most acute stage all the way back
TO early September, was tempered dur
ing the week by estimates showing that
al "a Tie ItSdl EdllS DuL TWO WOuiO 6dA II
the l Z times fixed charges ratio neces-
sary to remain legal for savings banks
and trust funds in New York State.
Foreign news was no better than the
week before, but it was no worse. Bo-
livians and other South Americans
were depressed by the request for an
extension by Bolivia and the default,
temporarily at least on Rio de Janeiro
bond issue, but at the end of the week
even these bonds recovered part of their
losses. Buenos Aires had q credit ex-
tended here. Berlin and a New York
banking syndicate broke on negotia-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21

Special Dispatch to The Star.
NEW YORK, December 20.-What-
ever may have been the satisfaction de-
rived from the situation by investors,
the bond market at least provided
plenty Of interest this week Prices dur
ing the first three sessions continued
their slump down 70 the lowest levels
in eight years, and in the last three
sessions recovered most Of the ground
lost in the past two weeks. All this was
accomplished on only a moderately
heavy volume of trading.
Causes for Change.
The causes Tor these movements are
not hard to find After the critical
bank situation of the week before had
been cleared up and the liquidation by
banks mostly taken care of, stocks
dipped into new low ground and Gre
ated another wave of forced cashing of
bonds. When stocks turned upward on
Wednesday this load was removed and,
although the advance was made on
quiet trading at first bond prices surged
back from their lows like springs from
which a great weight has been removed
AS the Advance proceeded, volume be-
came heavier, The market, was going
along at swift pace by the end of Fri
days SessiI n.
Measured by the averages. this move
ment does not appear so radical, owing
TO the steadying influence on index fig-
ures OF high-grade bonds, which yielded
but little In the long decline. Never.
theleSs Standard Statistics index of 81
representative issues tells the story. The
index OF 80 bonds ended the week JUS
above 95, compared with 92.6--the Low
point reached Wednesday-93.4 weel
ago, SO TIVE weeks ago. 90 month agC
and 1919. which was the high OF thC
year. touched early in September.
The widest moving conlponents o.
this index were the rails and the in
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21

was $21 ,487, 900 compared with $12,-
$4,000 last week and S225, 100000 in
the like 1929 week.
Figures published during the week
showed that insurance company hold
ings in bonds have increased by $685.
100000 in the last quarter, and by
$334,000,000 on the year. Also, savings
banks increased their bond portfolios
by S27 100000 in the last quarter and
$l08,900,000 on the year. This was
significant in-as-much as many market
commentators have laid the selling of
the past quarter at these very doors.
There is little doubt that there was
some selling by insurance companies
and savings banks in readjusting port
folios and to satisfy policyholders' de-
mands for loans and depositors' with
drawals. But evidently they bought
more than they SOLD
The heavy selling from the CONNER
cial banks and other investing institu-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21

tons is apparently over. The year end
is at hand with its Refreshments to be
made. Tax selling for income purposes
Will soon be over. New issues have
given the market a respite. All these
factors together with the certainty that
cheap money will last some time yet.
promise well for the future.
(Copyright, 1930)
Japan expects a record rice crop of
3,350,000,000 bushels this season.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21

| tons for a loan, but it was reported
! that German bankers had taken care
/ Of the citys needs. Australias inter-
! nal conversion loan of S140.O0O,00 was
most surprisingly oversubscribed. SPANS
| troubles continued and the peseta was
| further depressed.
! 1t was not to be expected. in such a
/ market, that much new financing would
be seen. The weeks total of new bonds
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21
BONDS ARE HIGHER
IN STEADY MARKET
Prime Corporation Issues
Resume Recent Upward
Trend-U. S. Group Firm.
BY DONALD c. BOLLEs,

Associated RTeSS flH6uClal WTlJeE-
NEW YORK, December 20.-The firm
trend of bond prices was maintained
for the third successive session today,
although some selling developed in sec
ond-grade rails. which have shown n
tendency to follow the trend of shares
High-grade investment issues of do
nestle corporations we're in demand
and advanced fractionally. Treasury
securities were dull and firm. Trading
was confined principally to Liberty
bonds Foreign dollar bonds of Euro
pean and Latin American countries
were irregularly higher.
Only a few of the second-grade rail-
road obligations that have rallied brisk
ly in the last two sessions to lead the
uptuIn turned soft Chicago & North
western 4a4s and Frisco AIS sold off
about point and Nickel Plate 4 l2s
dropped Such issues as Atchison Is.
Boston & Maine IS, Pennsylvania 4l2s
ana Missouri Pacific IS continued to
improve.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21
BANK CLEARINGs.

NEW YORK, December 20 Especially
New York bank clearings. today,
S1,150, 100000; year ago, S1,176,0 00,-
600. New York bank balances. today,
S96,000,000; year. ago. S142, 900 900.
New York Federal Reserve credit bal
ances, today, S82,0o0,0O0; year ago.
$40 600 600
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21
FUEL OIL GAINS.

Approximately lO,l25,000 barrels Of
fuel oil were used by public utility
power plants in 1929 TO generate cleo
trical energy, according TO a report
issued by the United States Depart
ment of the Interior. This is Al per
cent greater than the 1928 consumption
of fuel oil for the same purpose.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21
RIGHTS-EXPIRE.

TO ga Peoples Gas Chi Jan Is 10 ga 95s
vdend table IRE the snn,ai
based latest quarterly
xEx-diytdend Partly extra Plus Payable
scrip Plus 9 in stock Paid last
ape IN STOCK Payable when earned
I fin
go in stock Plus SO in stock n Plus So n stock. "
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21
TWO PUPILS HON0RED
High School journalistic Society
Names Asheville Contestants.

DIES MONIES. Iowa tPD--Two North
Carolina high school students, both
from Asheville. won places in the con-
tests recently conducted throughout the
Nation by Quill and Scroll, national
honorary high school journalistic So
ciety.
IN the Southeastern States division
editorial writing contest Fred Felmet of
Asheville won fifth place
In the same division contest in news
judgment Gertrude Michaloye OF Ashe-
VILE won fourth place.
Results of the national contest were
announced by George II, Gallup,
head of the Drake University depart
ment of Journalism and national Sec
rotary of Quill and Scroll.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21
Plans Short Selling Ban.

BY the Associated Press.
Legislation TO prohibit short selling
of farm products is being prepared by
Representative CARRIER, Republican, OF
Oklahoma. l..
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-21
Money to Loan

Secured by FIRST deed Of trust on real estate.
Prevailing Interest and Commission.
Joseph |. Weller 's sId w:; 9Th I EErS.t
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-02
TIRE OUTPUT THIS YEAR
Is SET AT II MILLION

Leaders in the automobile tire indus
try forecast an output of between
II 100000 and T1,500.000 castings in
1880, as compared with about II ,000, 900
in 1929 and peak of some 10000. 900
in 1928, Obviously, the expected de-
crease In automobile production this
year, as compared with 1929, of some
million cars and trucks will mean a re-
duction in the sale Of original equip
ment castings of around 1000, 900 units,
says the Standard Statistics Co. of New
York in a current survey of the tire
and rubber industry. The survey con-
tinues. in part:
"Offsetting this downward trend, the
demand for new rubber for old cars
should expand at approximately COM
penSating rate, rejecting the normal
growth Of replacement tire demand in
on years for the automobile industry
as q result of the relatively larger use
OF old automobiles.
I'm brief, indications are that de-
mand for replacement castings will in
crease, but that the growth will be little
more than sufficient to balance the loss
in requirements from automobile manu-
facturers. Thus. conditions in the in
dustry not only will prevent a marked
trade expansion for 1880 as a whole.
but for the second year in succession
output and sales will be held down to
levels below those witnessed in 1928"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-02
STOCKS MAINTAIN
SPIRITED ADVANCE
Market Displays Renewed
Resistance in Face of
Profit Taking.
BY STANLEY w. PRENOSIL,
Associated Press Financial Editor.

NEW YORK, February 1.-The stock
market closed today with an outburSt
Of strength which lifted the index of
90 leading stocks to the highest level
since the November Is break. Total
sales fell Just short of 1000, 600 shares,
the largest Saturday volume this year
The ticker did not record the final
quotation until % minutes after the
market had closed.
Much Of today's buying was in
duenced by the ability Of the market
to absorb the selling orders placed
around the December highs. Bear"
traders, who had sold stocks heavily
earlier in the year, rushed to cover as
buying orders for the so-called invest
ment issues appeared in large volume,
and pools continued to mark up wide
assortment of specialties.
Motors Heavily Bought.
Motors, which are believed to harbor
O larger short interest than any other
group, we're heavily bought in the last
hour. General Motors advanced 2
points to 4434 and closed at the top,
while Mack Trucks and Hudson Motors
each advanced ga points.
Apparently large blocks OF United
States Steel common were offered
around 1876, because the stock was
forced back up each time 1t approached
that level, and closed the day at 1912
for a net loss of "a of point. West
inghouse Electric, which had a sharp
run up yesterday, closed nearly a point
lower. Montgomery Ward, Standard
OIL Of New Jersey and American
Smelling also recorded slight declines.
New York & Harlem retained all but
points Of an extreme gain Of A points
on top Of q Appoint gain Of yesterday.
Western Union ran up 8ik points and
International Telephone 31s on the
testimony Of Col. SoStheneS Behn,
chairman Of the International board,
that a merger of the communications
properties of the Western Union, Radio
and International Companies would re-
suit In q saving of $4,000, 900 a year.
and assure lower telegraph and cable
rates.
Foreign Exchange.
Cotton, which had broken about So
q bale this week, rallied about rs cents
In today's market.
establishment of new low levels for
the year by the French and Argentine
currencies featured the irregularly
lower foreign exchange market.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-02

Reports that Kruger & Toll, the
Swedish match trust, is negotiating
large loan to the Austrian government
In return for the match concession in
that country are denied in Stockholm
advices to New York bankers.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-02
NEW YORK BANK STOCKS,
STOCK EXCHANGE SALES,
NEW YORK, February / Up

NEW YORK, February 1.-Sales on
the New York Stock Exchange last
month were the smallest since July,
1928, when sales totaled 390O1, 098
shares. Last months sales totaled g.
305,290 shares, as against ITO, 803, $40 in
the corresponding month last year.
Western news and the Libby times. [volume] (Libby, Mont.) 1920-1933, 1930-10-23

line, visiting their aunt Mrs. Walter
Sutherland.
The football game between l.. G.
II. S. and Libby was postponed from
Tuesday, October 81, to Friday, Octo-
Der 31st, because of the death of Ell
mer Smith.
Mrs. F. P. Carey is in Seattle visit
ing her daughter Dorothy, who has
a position there.
Tuesday morning, Gale McKain,
Hugo Klossner and Frank Baney left
here to join the elk hunters on the
South Fork.
Mrs. L. w. Fetterly went TO Spo-
kane Saturday for few days visit
with her daughter Dorothy.
Mr.. and Mrs. Bob Waller, Mr.. and
Mrs. J. A. Cook, Miss Irene Stephan
and Mr.. George McGlenn spent the
week end deer hunting in Pleasant
Valley at the home of Mrs Mabel
Belts. j. A. Cook and Bob Waller each
got deer.
The Rev. Miss Laula Terry, who has
been pastor of the Church Of God for
the past year and half, has resigned
Western news and the Libby times. [volume] (Libby, Mont.) 1920-1933, 1930-10-23


certain that the marking Of this road
will bring an increased number of
tourists to Eureka.
VERNE Peltier made trip to the
Yak valley the first of the week
John Holmes of Minneapolis spent
Monday in Eureka.
Mrs. Frank Hendrickson is here
from Libby, visiting her parents, Mr..
and Mrs. ]. c. Porter, for several
weeks.
w. O. Ellis left Sunday for Boomers
Ferry where he will work under f.
P. Carey.
Mrs George RAINBOW and daughter
Aida have moved from the George
McGlenn house to the home OF Mrs.
Ethel Long, where they will spend the
winter.
Mr.. and Mrs. Vernie Peltier mot
ored to Kalispell Friday, returning to
Eureka Saturday night
Teddy Winslow has been absent
from school for few dnys on account
of burned knee. Ted burned his
knee on an oven door and infection
set in.
Western news and the Libby times. [volume] (Libby, Mont.) 1920-1933, 1930-10-23

her position She will leave the last
of the week for Billings.
The Royal Neighbor Sewing Circle
will meet with Mrs. Fred Johnson
Friday afternoon.
NOTE-The Roosevelt School Honor
Roll will appear in next weeks issue
of the Western News.
The contract for the Theodore Roose-
Welt highway work from Stryker to
Fortine will be let November Z.
NJ w. Hilbert Of Helena, Carl R.
Moves of Chinook, and d. w. Betz-
ner Of Helena were in Eureka last
week marking the route Of U. S. High
way No. SO through Eureka and on up
to the international boundary line.
This highway follows an almost direct
north and south route from Gateway to
Las Vegas, Nevada. From Gateway to
Banff, the Canadian government is
marking the highway. U. S. highway
No. SO is the shortest highway in the
west connecting the North and South,
and it's scenic beauties are the most
varied. II passes through western
Montana, southern Idaho and the
whole eastern part of Nevada. II is
Western news and the Libby times. [volume] (Libby, Mont.) 1920-1933, 1930-10-23

Saturday, speakers for the morning
were: Mr. B. F. Day of Kalispell. who
gave a Bible exposition. DR.. George
Elton Harris of Helena spoke on As
ISOLATION Missionary Committees. Rev.
H. N. Spencer of Helena gave a talk
on Church School of Missions" Miss
Esther Mccullough of Seattle, Ladies'
State Worker, spoke on Zone Tongue
Mrs John Lewis of Spokane spoke on
Improving the Elementary Depart
ment" Special music by Ruth Judson
and Travis Judson of Kalispell. I'M
pressions of Tempted Hills, by lola
Harwood. Address What Our Young
People Need by Mrs. H. w. Arthurs
of Kalispeil
The program for next week is:
Sunday school, 1000 a. m.
No preaching service.
B. Y. P. u, $50 p, m.
Evening services, 7:3O p m.
Prohibition program by members Of
the congregation
Western news and the Libby times. [volume] (Libby, Mont.) 1920-1933, 1930-10-23
Eureka Locals

For Sale: Two pair of new hockey
skates, $500 each. Inquire at Montan;
Hotel
Rev E. c. Amundson has returned
from Seattle where he spent most
of the summer
Lyle Gee returned to Eureka the
first of the week from Whitefish where
he had ben acting as relief man.
The county tractor was busy, level
ing up the road north of town, Tues
day
Mr.. and Mrs. Victor Wolff were Wis
itors in Kalispell the last of last week.
The American Legion Auxiliary had
a meeting Saturday night, at which
Mrs Catherine Dreweicke, district
vice president of the Auxiliary, gave
most interesting talk. AT this meet
ing number of new members were
taken in, and it was decided that the
election day dinner, November 4th,
would be from 4;30 to 500 p. m.
Mr.. and Mrs. Larry Riley and son
Larry Jr. left the last of the week for
Missoula where they will make their
future home. !.
Eureka friends have received word
of the death of Mr.. Adolphus Tetrault
a former resident of Eureka, at his
home in Kalispell, Sunday, October 49,.
Mrs. Asa Curtis of Deep creek spent
the week end visiting at. the home of
Mr.. and Mrs. Ray Dashiell.
Carson and Leonta Wilson arrived
here Tuesday from Charlo to attend
the funeral of Elmer Smith.
Mrs Pat Jones is in Choteau visit
ing her parents, Mr.. and Mrs. Thomp-
son.
Mrs E. E. Madden of Rexford was
a visitor in Eureka Sunday.
Miss Lois Thompson and Mrs H.
G. Pomeroy were dinner guests of
Miss Kersey's Sunday.
John Kohler was hunter in this
vicinity last week.
Mr. and Mrs Ned Joughin of Libby
were business visitors in Eureka sew
eral days last week.
Sixty new books have been pur-
chased by the high school for the stu
dents library.
Thursday, October %, the Baptist
Ladies' Aid met at the church.
The American Legion is giving
dance Ar1nistice Day, Tuesday Nov.
II, in Quirk's hall. The Legion is also
giving a Christmas dance, Christmas
night
Ed Leary arrived here Saturday
from logging camp near Echo lake,
for a few days visit at the home of
his sister, Mrs. E. E. Price.
Mrs Lillian Lewis is here from Spo-
kane, visiting her sister, Mrs. Richard
SON
Mr.. and Mrs. c. b. Graves and
daughter, Nellies and Mrs Ed Hend-
rickson motored to Kalispell Tuesday
morning.
Nellie and Georgia Spaulding spent
Saturday and Sunday at the Canadian
Western news and the Libby times. [volume] (Libby, Mont.) 1920-1933, 1930-10-23
FORGET-ME-NOT DAY.

Hon John Ward Crosby, State Com
mander, Disabled American Veterans
of the World War, Helena, Montana.
Dear Mr.. Crosby:
There must be cause for great salts
faction on the part of the veterans who
are disabled because of their participa-
ton in the worlds greatest conflict at
arms in the thought that there is an
organization which devotes all Of its
time, talents and resources to the
task of seeing that they and their
families shall not want Such an or
ganization is the Disabled American
Veterans of the World War, body
made UP exclusively of those who
offered themselves to their country and
emerged from the weller with injuries
that will affect them perhaps through
all their lives.
This is the organization that spon-
sors Forget-Me-Not Day each year
a day on which the sale of the little
flowers of remembrance gives every
citizen of grateful nation an oppor-
tunity to contribute to the splendid
work it is doing. am advised that
Saturday, November l, next has been
designated as Forget-Me-Not day for
Montana, and it is pleasure for me
to commend the cause to the people
of the state. indulge the hope that the
occasion may make particular appeal
to every man and woman able 10 con-
tribute to the continuance of the excel
lent work of the Veterans and that the
sum total of their response may be
greater than you have ever before
known
Yours very sincerity,
(Signed) j. E. ERICKSON,
Governor
The LOCALES will be in charge of the
Legion Auxiliary Post No. a. The
Camp Fire Girls, under the direction
of their guardian, Mrs. Walter Suther-
land, will sell the Forget Me Nots.
Western news and the Libby times. [volume] (Libby, Mont.) 1920-1933, 1930-10-23
IoOley Lake News Notes

Richard Clark and Floyd Williams
left for Libby last Sunday where they
will start working for the forest serv-
ice again the first of the week.
Less Cummings of Kalispell called
at the ]. Ross home Friday.
Mr.. and Mrs. j. Ross motored to
Kalispell Monday of last week.
Mr. and Mrs. Chas. T. Young were
calling on old friends in this com
munity Tuesday.
Sam and Johnnie Doble returned
home Saturday from the eastern part
Of the state.
Roy Bowers has moved his fam
lily into Eureka for the winter.
Mr.. and Mrs. Eathen Butts arc NOV
ing here from Priest River, Idaho.
The ground is covered with heavy
blanket Of snow in this section.
Western news and the Libby times. [volume] (Libby, Mont.) 1920-1933, 1930-10-23
Eureka News
MRS. MOSBY AND
MS. RILEY HOSTESSES

Mrs. o. P. j. Mosby and Mrs. Larry
Riley entertained six tables of bridge
Wednesday, October Is, at the Mon
tana Hotel. The rooms were beautifully
decorated with Halloween streamers
and colors, and late fall flowers added
an artistic touch of color. After an en-
Soyable evening, prizes were awarded
20 Mrs. W. H. Clark, high score, Mrs.
Hugo Klossner, second high, Mrs Geo.
Day and Mrs. Paul Morrison, low
score prizes. After playing cards the
ladies did justice to most appetiz-
Ing lunch.