davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-07-10
CIRCULATION Of
MONEY OFF

There was 1925. 100000 less
money in circulation on June 80
than year ago, the Treasury an
nounced today.
The total volume of money in
circulation was $4,521, 1872, 900, or
$3.50 per capital, compared to
$39.62 per capita June 80, 1929.
The total stock of money June
80 was $8,3O5, ,769, 900, a reduction
of $233 100000 during the year.
The Treasury held $4.021, ,287 900,
an increase of $232, ,000, 900 during
the year. The figures were based
on an estimated population Of
1928, 900, although the Census
Bureau fixes the population at a
somewhat higher figure.
The large reduction in circula-
tion as compared to a year ago
is due to the recession in bust
ness, resulting in a lack Of de-
mand for currency. Last June the
country was in the midst of an
unprecedented wave of prosperity
and rapidly mounting stock prices,
which created an abnormal de-
mand for currency and drove in
terest rates to record levels.
Today money is cheap.
The Washington times., 1930-07-10
CAR L0AD|NGS
GAIN IN WEEK

Loading of revenue freight for
the week ended June % totaled
936,848 cars the American Railway
Association announced today. This
was an increase of 1899 cars
above the preceding week but a
reduction of 159,721 cars under
the same week in 1929.
Miscellaneous freight loading
for the week totaled 371 ,999 cars,
68,442 cars under the same week
in 1929. Loading of merchandise
less than carload lot freight
amounted to 239,544 cars, de-
crease of 21,161 cars below the
corresponding week last year.
Coal loading amounted to 137,-
521 cars, a decrease of 24,534 cars
below the same week in 1929. For
est products loading amounted to
47,947 cars, 2l,551 cars under the
same week in 1929.
Ore loading amounted to 61,034
cars, a decrease of 1923 cars be-
low the same week in 1929. Coke
loading amounted to 1891 cars, a
decrease of 1886 cars below the
corresponding week last year.
The Washington times., 1930-07-10
WORLD SUGAR
PACT URGED

The Cuban sugar situation was
discussed today at a luncheon
given at the Recess Club by
Thomas L. Chadbourne, attorney
of the Matanzas Sugar Company
attended by representatives of the
American sugar industry in Cuba
and by Cuban sugar interests. A
committee was named to study
the proposal of the Java and Eu-
ropean producers for an interna-
tional agreement to regulate sugar
production during the next five
years. Representatives of the en-
tire, Cuban sugar industry are un-
derstood to be represented on the
committee.
Another committee was ap-
pointed to obtain a release of
sugars pledged to banks operating
in Cuba so that members of the
Santa Clara Producers Associa,
ton, now in New York, can work
with American members of the
committee on a proposal pre-
sented by the Soviet government.
This proposal Is to buy Cuban
sugar in lots of 100000 tons
monthly up to December this
year, paying part in cash and
remainder in notes guaranteed by
RuSsion State Bank.
The Washington times., 1930-07-10
Phillips Co. Buys
Fiftieth Gas Plant

Phillips Petroleum Company an
nounce the purchase, for a con-
sideration of 1925 900, of the COM
plete natural gasoline plant Of the
Dixon-C Creek Oil Company, near
Berger, Texas, thus adding $4,000
gallons to the Phillips production
and furnishing an added outlet
for residue gas sales of eight to
ten million cubic feet daily.
This purchase carries with it
natural gas contracts covering
some $500 acres on which there
is considerable undrilled proven
potential. This plant is Phillips
fiftieth natural gasoline plant and
becomes a part of it's major sys-
tenn, through which large scale
operations are carried on with
consequent production economies,
and further fortifies the Phillips
position in a territory in which
they are already predominant.
The Washington times., 1930-07-10
Machinery Buying
At Years Lou Point

Demand in the Nations ma
chinery and machine-tool markets
is almost negligible, with the
usual summer slackness, a short
week occasioned by Independence
Day, and general business quiet
ude all contributing to the small
est week in the current year,
American MachiniSt, reports.
Inquiries are slow and the used
tool market shares the quiet of
that for new tools. Prices, how
ever, are being maintained and
deliveries are better than they
have been for many months.
New York reporst no additional
lists and little business during the
week. New England sales of road
building and construction ma
chinery are good. but most other
lines are yer. slow.
The Washington times., 1930-07-10

Action of the Interstate Com
merce Commission in giving the
Van Sweringen-controlled Missouri
Pacific Railroad tentative au-
thority to lease % Southwestern
lines, and outlining to 1t the
steps in formulating a giant sys-
tenn patterned after the commits
sion's general consolidation plan.
was regarded today as highly sig
nificant.
Failure of Congress to pass the
resolution of Senator Couzens
(R.), of Michigan, aimed to post
pone any action by the commits
sion looking to the consolidation
of railroads until there had been
further inquiry into the activities
of holding companies, made the
commissions action in the Mis-
souri, Pacific case significant he
cause the decision was reached
on June Q and was not announced
until July, after Congress had
adjourned.
Observers see in the commits
sion's action an opportunity for
the Van Sweringen brothers, of
Cleveland, to get in on the
ground floor in setting up a sys-
tenn that would cover a large
part of the country and would
conform to the commissions gen-
eral plan for the No. 18 system.
which would be known as the
Missouri Pacific system.
The Washington times., 1930-07-10
DEPOSITS
SHOW POWER
Times staff Photo
BY LESLIE GOULD.

Savings deposits in Manhat-
tan's 81 savings banks this year
have established a high record
for all time.
Money on deposit in Wall
Streets billion dollar COMMERCIAL
banks is millions ahead Of a year
ago. The totals in most coSes are
new records.
This certainly is no indicator
of a hard-up people.
The buying power is there. Ali
that is needed is something to
awaken it. When it is, and peo-
pie start replacing the clothing
and shoes and other things they
have been wearing out, but hold
ing off buying for the last six
months there will be a business
revival.
How soon this will come is any
body's guess, but one thing is GER
tain, people cannot 60 on for
ever wearing the same suit of
clothes or dress or pair of shoes.
They must wear out.
Savings bank deposits in Man.
haitian on July i totaled $780,
426,618. This is a gain of $115,-
881 $50 since the first of the year,
when total deposits were $2,080,-
544,938. Deposits a year ago were
$2.112.063,880, with the gain for
year-July l to July 1-$74,362,-
1888.
The stock market crash last
fall brought the drop in savings
the last half of the year. but since
then the New York savings &C.
count depositor has more than
made up his Withdrawals made
in response to brokers margin
calls.
The small speculator-the man
with the savings account-was
not in the market to any great
extent in the 1922 break. This
is shown by the steady rise in
savings through 1921 and 1922.
Savings accounts on January /,
1920 totaled slips, ,493, 1873; on
January l. 1921, 1,243,754,482; on
January l, 1922, 1888, ,866, 1852,
and on January /, 1923, $1,429,-
O12,543.
The significant thing in the
present case is the quick recovery
by the savings accounts. In the
last half of last year they were
seriously impaired by the stock
market break, but now the total
is far in excess of the previous
record figures of year ago.
This shows sane state of mind
on the part of the little fellow" /"
He has paid up for the most part
his stock market losses and has
been able to put some additional
money away.
The Washington times., 1930-07-10
AID
STEEL, OUTPUT
STEPPED UP
Trade Journal Says Operators
viii Keep Production Near
Present Rate Until Change

Backlogs in pipe steel and tin
plate, plus good commitments in
reinforcing bars and q large vol
ume Of structural steel tonnage,
are counted on to hold steel pro-
duction within few points of the
present rate Of mill operations un-
til general improvement in de-
mand sets in, Iron Age said To-
day in its trade review.
Iron and steel demand, the re.
view continues, has not recovered
the ground lost during the 1oli-
day interruption and it viii take
a week or two before the volume
CT current business can be gauged.
Many consuming plants are still
shut down for inventory, and SllS-
pensions among automobile ard
autOmotive parts markers viii last
two weeks or longer. The Ford
Motor Company will stop opera
tions from July IL to % and has
cut off all shipments Of steel.
Railroad car builders are reaching
the end Of their orders, three
shops in the Chicago district hav.
ing shut down, with others run
ming at Is to 40 per cent Of capac-
lty. Operations of farm equip
ment plants have reached the
lowest point of the year. Western
rail mills are now on a 25 per
cent basis and have little remain
ing tonnage to roll.
Steel ingot production, after
the sharp reduction In operations
following last Thursday, now
averages 56 per cent of capacity,
compared with so per cent at the
beginning of last week. Recovery
in mill operations has been most
m.rked in plants making line
pipe, which have been stepped up
sharply to an 80 to 90 per cent
rate. Tin plate output again
averages 10 per cent, and plate
production in the Chicago dis
trict has rebounded as q result
Of demands from the Milwaukee
maker of electrically-Welded pipe.
Shipments are moving forward
to the Wisconsin pipe shop at
the rate Of $1,000 tons a month.
The Washington times., 1930-07-10
TradersB Bearish Despite
Higher Price Trend
Heavy Odd Lot Buying Giving Stocks Re-
sistance Cushion and Strengthening
Position; Meehan Returning
By THE SPECTATOR

Wall Street cheerful today The markets strength
yesterday following Tuesdays rally responsible but this is
not to be taken a sign of returning bulishness
The majority in the street will lean to bearshnesS
rampany for the immediate pull while the others merely
with saying that they do not think prices
go much lower Washington and banking circles
pesSmstc than Wall Street declaring that brokers
getting of security values from being too
close to the picture
The market very thin both There is reaching
while specialists told
heavily loaded with orders the down Yet heavy odd
lot buying and scale down investment purchasing lis
still going giving stocks resistance cushion and strengthen
ing their position.
The best advice present stay the Sideines A
be able to scalp profit either but
the risk.
The Washington times., 1930-07-10
CURB L|ST|NGS
APPROVED

Board of Governors of the Curb
Exchange at their weekly meet
ing approved the admittance to
unlisted trading privileges of the
following securities:
Austin Motor Co., Ltd, Guar
anty Trust Co. American deposi-
tary receipts for ordinary regis
tered shares, par 5 shillings:
Hamburg Electric Co., Hamburg
iSche Electricitaets Werke-Guar
anty Trust Co. American depoSi-
tary receipts for common bearer
shares; Gelsenkirchen Mining Co.,
Gelsenkirchner Bergwerks Aktien-
gesellschaft-G Guaranty Trust Co.
American depositary receipts for
common bearer shares: American
6C Foreign Power Co., part paid
allotment certificates evidencirg
payment of first, second, third,
fourth and fifth inStalments to-
taling 80 per cent of subscription
price for units consisting of Sec
ond preferred stock and option
warrants.
The following security has been
removed from unlisted trading
privileges:
American & Foreign Power Co.,
part paid allotment certifications
evidencing payment of first, Sec
ond, third and fourth instalments
of subscription price for units.
The Washington times., 1930-07-10
Mood of Wall Street Sign of Bushness Spectator Warns
I.C.C. Action in Giving
Van Sweringen Lease
Right Seen Significant

The Van Sweringens have
other plans in contemplation
apart from those connected with
the Missouri Pacific, and now
that they have been given a cue
by the commission, it is ex-
pected they bring these into the
open while the going Is good"
If they made their application
conform to the ideas Of the COM
mission it appears they will con-
summate the first real railroad
consolidation plan in recent
years. The great Northern
Northern Pacific merger. which
has been conditionally approved
by the commission. has been
temporarily held UP, and may
reach the courts. Many other
merger propositions have also
struck snags because they did
not conform with policies es-
tablished by the commission.
The Van Sweringens have
made it plain they do not con-
template setting up great
transcontinental system under
one management. Their lines,
East and West of the Mississippi,
will be separate and integral sys-
TENS. In the East. the CheSa-
peake and Ohio will be the main
stem, while beyond the MissiS-
sippi, the Missouri Pacific will be
their dominant road, with all its
feeded lines.
The Washington times., 1930-07-10
Straus Nat. Bank
And Trust Co. GrOlUs

The Straus National Bank and
Trust Company of Chicago has
just cele rated its second birthday
anniversary. According to a
statement made by the bank, de-
posits which on the opening day
were $2,085. 900 in the two years
have grown to $15,881, ,5e4. Dur
ing the past year savings accounts
have increased rs per cent it was
reported. The bank personnel has
increased from 19 to 79.
The Washington times., 1930-07-10
Oil Stocks Dividend
Is Distributed

P. w. Brooks & Co., sponsors,
announce that a semi-annual cash
distribution on Associated Stand
ard Oil stocks shares, coupon No.
2. will be paid on July Is, 1880,
at the rate Of approximately 80
cents per share by the Empire
Trust Company of New York City,
trustee.
The Washington times., 1930-07-10
Bond Opinions Are
Listed by N. Y. Firm

Convertible bonds, in the pres
ent market situation, provide the
investor with an opportunity to
profit by an advance in the STOCK
market without taking the major
risk involved in stock commit
ments, in the opinion Of New
burger, Henderson and Loeb,
members of the New York Stock
Exchange.
The Washington times., 1930-07-10
Group Movements

One interesting fact pointed
out to me by the Statistician for
large brokerage house was that
only two groups, the tobaccos
and the amusements, still show
gains for the year. The food
group reveals the most stability
7 All the rest broke into new low
ground. The chemical and avia
ton groups, he declares, will
show the biggest gain in the
next five years.
A scale by interests who are
convinced that the So dividend
is assured. Earnings, it is re-
ported, are being affected by
operation economies as we'll as
increasing export demand. The
company has shown steadily ris-
ing profits in the last decade and
it's new plant for the production
of high-test hypochorite is near
ing completion.
The Motors
There is a golden harvest in
the motors provided there Is any
assurance that the current diVi
dend rates are safe. Nash went
on a 81 basis yesterday, but the
stock is still selling around "a,
yielding about II per cent, and
this high rate of return is typi-
cal of many in the group. Even
General Motors yields better than
per cent, and l am told that
its earnings for the second quar-
ter will be better than $1.25 a
share, bringing first halt net
above So on the stock. Vacation
shut downs will cut sharply into
profits for the third quarter, yet
motor companies are well forti-
fled with cash and have done a
splenid job so far this year in
keeping production in line with
sales.
A brokerage house that has
taken a conservatively bullish
position in the market tells me
that it's loan ratio is down to a
figure that has always meant the
beginning of an advance in the
past. Another points out that
the present brokers' loans total
is less than the combined capl-
talization of General Motors and
American Telephone. Yet no
broad upward movement is seen
unless Steel crosses 162, Consoi
dated Gas ITO, and telephone Eli.
The Washington times., 1930-07-10
FRAT HAS OUTING

A moonligh, excursion will be
held by Alpha Sigma Lamda fra
ternity on the Wilson Line
steamer City of Washington to-
morrow night. The boat will
leave the foot Of Seventh Street
at s:3o o'clock.
The Washington times., 1930-07-10
Pools

There was more talk of pools
being reformed yesterday than
there has been for some time.
This is in addition to the huge
bull pool. led by Durant and Nee
han, Wall Street has been hear
ing about to start the market up
ward. Stocks linked to the new
blocs are Vanadium and General
Motors. the latter in connection
with the report that the Whining
ton crowd has begun to buy
stocks.
Meehan is due back from abroad
Saturday. Activity in radio yes
terday. was believed to be in the
nature of a "pre welcome home"
demonstration. M e e h n may
start some fireworks" on his re-
turn trip but, as some one aptly
put it, no one knows whether he
is bullish or bearish.
The Washington times., 1930-07-10
Interpreter Needed
In Mercantile Suit

A case in which an interpreter
had to be called to translate
testimony of the defendant was
settled in Municipal Court by
Judge Robert E. Mattingly when
Joseph Futrovsky, wholesale meat
dealer. was awarded judgment
against Israel Mensh for 5000.
F'utrovsky. had brought suit
against Mensh on an open ac-
count.
The Washington times., 1930-07-10
Canada Power
ing year

Canada Northern Power Com
pany reports net income for the
five months ended May 81 Of
1928, ,202, against $930,630 in the
same 1929 period.
The Washington times., 1930-07-10
AMERICAN TEL
CROSS UP,BUT
NET DROPS
Peoples Light and Power Re-
ports Balance for Dividends
To Equal $4.1s Per Share

Although gross income Of the
American Telephone and Tele-
graph Company for May was
higher, net for the month fell off
$460,154 to $2,880,725 against
So, ,340,879 in May, 1928. Gross in
come for May was SO, ,821 ,523, com.
pared with $9,210,357 in May, 1929.
Net operating income for the five
months ended May 80, amounted
to $15,177,139, against $17.418,629
in the same 1929 period. Gross in
come for the period totaled $48,-
685, ,246, against $45, 1858, 300 in the
corresponding 1929 period,
The Washington times., 1930-07-10
Ohio Water Service

Ohio Water Service Company re-
ports for the year ended May 81
gross income after general expen-
ses and taxes of $394.O56, COM
pared with $370,S89 in the preced-
ing year.
The Washington times., 1930-07-10
PEOPLES Light

Peoples Light and Power Com
pany, subsidiary of the TRUTH.
ties Corporation, reports for the
year ended May 81 a balance avail.
able for dividends on the common
stock of Sab a share on the aver.
age number Of class A common
shares outstanding during the pc
Rod.
The Washington times., 1930-07-10
LOCAL STOCKS
FURNISHED by W. B. Hibbs & Cob

NtuThlsDeQ Dy w. b aApps N ~"
SALES
Potomac Electric cons IS $4,000
@1O2.
Washington Gas SIS $4,000
1O3 u. ......
Capital Traction Company 20
5834, 10000.
Washington Railway & Electric
pfd., 50981s, 9@98.
Union Trust Company, 100
$50.
Lanston Monotype, 100115. 10
OILS, 1O@115, 10@115.
Merchants Transfer & Storage
pfd., 1906, 1O096.
Merganthaler Linotype 5096H2.
Peoples Drug Stores pfd., 30
104.
AFTER CALL.
Norfolk g. Washington Steam
boat rts wi 56016, 1915.
Capital Traction Company 100
so, 506OA, 100000. 1OQ6OR
1@6Oh, 1O06l.
The Washington times., 1930-07-10
about $50, 100000 and this may
affect the result.

I hear that the first pool in
Warner Brothers that carried to
the stock above 80 made a royal
killing The stock was liquidated
all the way up, ! am told, and
price the pool averaged "a for its
holdings which were said to have
been acquired at less than SO.
The Washington times., 1930-07-10

Save time In locating needed services
ky turning to the Business Service Di-
EsctOFy Of tOday'b Classified Ads.
The Washington times., 1930-07-10
The Oils

Action of the big oil companies,
led by Standard Oil of New Jer-
sey, in cutting gasoline runs to
reduce huge stocks on hand. is a
hopeful sign that the oils may
yet ''get out of the woods" Crude
oil production seems well in hand.
Many brokers, however. are still
skeptical. One told me that he
didn't like the oil situation at
all, yet added that he had been
told he was crazy and that the
powers that be at 26 Broadway
(Standard OLD were confident
that a turn for the better had
come. The situation will be i'm
proved when and if the rumored
mergers take place. Supply will
thus be concentrated and will be
more susceptible to curtailment.
Oil well supply is latest low
priced stock to enter the mystery
stage. It was up 414 points to
2OA yesterday, and has more
than doubled in price in the last
few weeks. It looks much like
strong-arm pool work, though
earnings in the second quarter
are said to have shown a sharp
rise. Yet the company showed a
deficit of over ST a share last
year and a small loss the year
before.
The Washington times., 1930-07-10
Brokers Loans

Brokers loans should be lower
today. but the drop if any will
probably be smaller. Several
brokers, report declines in their
loan totals, but of no great dimen-
Sions. It doesn't matter either
way. Loans at present are at
their low for long time. Expir.
ing rights this past week totalled
Seward daily gateway., 1930-01-02
GETS ALASKA FRUIT
 As CHRISTMAS PRESENT

The American Falls Press, Q daily published at American Falls, Idaho, through the court esy of one of its readers who once visited Alaska, gives Sew ard neat compliment, likewise. a fine publicity boost The arti- cle follows:
 Evidence that Alaska produces other things besides snow and ice is in the possession of Mrs. Eva B. Smith Last week Mrs. Smith received Christmas box from friends at Seward. Among other things 1t contained doz- .en jars of jellies and jams made from various fruits that grow about Seward,
 The collection was very fine consisting of wild cranberries wild blueberries, gooseberries, wild entrants.
 Other Christmas presents were renewals of Mrs. Smiths sub- scription to the Seward Gate way and Stewards Folly, the lat ter published by the students of the Seward high school.
 On a visit to Seward a couple of years ago Mrs Smith was much impressed with the Alaska city It obtains pure cold water by piping its supply from a gla-
Seward daily gateway., 1930-01-02
NOW PINK SHOES - F0R BIC I|E-MEN

LONDON, Jan., 2, (P)-Blue and pink shoes will be worn by the vel dressed man this season, if exhibit ors at the annual shoe and rather fair here know their footwear.
 Besides the pink and blue inno- vations for the male foot of fashion several manufacturers are showing mems shoes Of black and white striped feathers and other intri- cate color combinations.
Seward daily gateway., 1930-01-02
'IR PASSENGER TMFFIC
 sa0','S LARoE INCREASE

A WASHINGTON, Jan. 2, (P- More than $500 passengers are ..up in the air' daily, according to Clar- ence Young, assistant secretary of commerce for aeronautics.
 "At least 3,527,003 passengers will have ridden in airplanes in the current year. he said "An average of 254 passengers are being carried each day on established airWays."
Seward daily gateway., 1930-01-02
THANKS RENDERED

The thanks and appreciation of the Seward Volunteer Fire De- partment are hereby extended to Oscar Dahl, proprietor of the Seward Hotel. for the loan of his piano for the New Years ball. and to the many others who helped to make the annual dance the big success which it was.
Seward daily gateway., 1930-01-02
FARM FOR ORPHAN ROYS

INDEPENDENCE, Mo-, Jan-, 2, P- Self dependent orphan boys between the ages of 6 and 16 oper- ate a 370 acre farm nera here. Mai. Andrew Dunn, Missouri cattle man, bequCathed the farm.
Seward daily gateway., 1930-01-02

cial stream. At the time of Mrs. Smiths visit there was a pro-
 fusion of wild flowers and ferns and an abundance of wild fruit.
Seward daily gateway., 1930-01-02
BIG STOCK FEED RTTT,

LEXINGTON, Ky, Jan, ?, lP)- Farmers of Kentucky spend $15,- 100000 annually for commercial stock feeds, says the State Univer- Sity.
Seward daily gateway., 1930-01-02
Martin Lanning, a

Martin Lanning, land mark of Seward, returned the other day from two-weeks stay at Bishops, Russian River. where very enjoyable holiday vaca- ton was spent.
Seward daily gateway., 1930-01-02

Mrs Paul Beran of Anchorage, who accompanied MT. Beran to the S- $. Northwestern, returned home yesterday.