davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
BRITISH BANK RATE =
REDUCTION IS SEEN
BY LEONARD J. REID.
snecial Cable nlsnatch 10 rhn star

Special Cable Dispatch to The Star.
LONDON, January 4.-Despite the
fact that there was no change in the
New York reserve rate, the Bank OF
England cannot long delay a further
step in the worlds progress toward
cheap money, though 1t is doubtful
whether Gov Norman will move from
conviction or because he is prematurely
pushed from behind by circumstances
which do not welcome cautious esti-
mate on the immediate position.
The predominant feature today was
the extreme weakness of discounts.
Treasury bills we're allotted around 5-l6
per cent. Most London tenderers had
expected a rate Of about AS, as COM
pared with the average of about 43A
per cent last month. Ninety-day bank
drafts are barely obtainable at Al per
cent. holdings being reluctant to sell on
falling market with money still
plentiful, and continental banks, de-
SirouS of New Year replenishment of
their portfolios, are even bidding 3-16
per cent.
Thus the bank rate is completely in
effective and since the irregular tone of
sterling against the dollar here is
aScribed to temporary technical posi-
ton OF exchange dealers books in Ger
tain continental centers. while the franc
now looks safe above the gold point, it
is argued that Az per cent bank rate
could be riSked without delay.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
DUN'S REVIEW.

NEW YORK, January 4 tP).-Dun's
Review says:
Revival of business from the setback
of recent months has been more in
prospect than in actual achievement.
yet this was to be expected. Time will
be required for recovery from the recess
sion, and the first few days of a year
seldom bring any change of deep sig
nificance. 1t is evident, however, that
there is a more confident feeling in
most quarters, and sentiment regarding
the more distant future is plainly
marked by optimism. What has lately
happened is of less Importance now
than what is likely to occur, and 1880
begins with most of the fundamentals
favorable to ultimate renewed expan-
sion. The specific developments this
week, If lacking particular feature, were
not without encouragement in some in
stances. and among the hopeful signs
was the steadier price undertone in
various leading commodities
Weekly bank clearings, S10.669. SAL
900. decrease of 22.9 per cent from
last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
DISCOUNTS SHARPLY REDUCED
BY FEDERAL RESERVE BANKS

suggest extreme ease in money rates. 1t
would still be about as per cent above
the low average of the three years prior
to 1929 and two and half times greater
than at this time in 1925. 1t would ap-
proximate the low figure of January,
1928. During several of these years of
small rediscount volumes interest rates
were extremely low chiefly due to slow
business and liquidated markets for Sc
curitieS.
High as the rediscounts were in 1928
and 1929. they were only about SO per
cent as great as the peak" figures of
the imitation and def1ation years of 1919,
1920 and 1921. In that period COM
modify prices were much higher than at
present or in the last two years. and
there was not then the strong gold base
for the credit structure to rest on. Sub
sequent imports of gold in large amount
helped to liquidate the borrowings in
contrast to what is now taking place in
the form of a reverse movement of the
yellow metal.
Borrowings Reduced Sharply.
This weeks decrease in rediscounts
represented reduced borrowings on a
large scale in many of the important
Federal Reserve centers. 1t was smaller
relatively III new 4OrK IMAM IN chicago,
Cleveland, Boston or ST. Louis. The
New York borrowings. however, at pres
ent approximate $172,000,000 of the
total in the country of 1892, 000, 900
They are about IS per cent lower than
at this time year ago.
Another indication of approaching
ease in money rates is to be found in
the year-end statements of the large
banks and trust companies. In nearly
every case they show a substantial in
crease in deposits compared with their
last financial exhibit 1t is no secret
that the executives of these institutions
are becoming anxious and perplexed
concerning their ability to find salts
factory and remunerative outlet for their
expanding assets. Although call money
has been firm the past week, and at 6
per cent is profitable for those who have
it to lend, this is temporary situation.
A year ago call loans were at IL per
cent, and ahead of the lenders was n
period OF nearly nine months of the
highest average monthly call rates that
many of them had ever enjoyed.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
PROPOSED BUILDING
OPERATIONS GAIN
BY the Associated Press.


NEW YORK, January 4.-Proposed
heavy construction operations an
nounced throughout the country in the
past week revealed high rate of act,v-
lty IN miscellaneous, commercial resi-
Dental and educational building proi-
ectS. the McGraw-Hill Construction
Daily reports. Residential buildings.
which include apartment houses and
hotels. were valued at $13, 125,OO show
ing the highest total in five weeks. All
classes of construction were valued at
$95, 795, 900, which compares with SIG, =
5.O00 in the preceding week and
$lO5 $4,000 in the corresponding week
last year.
The sums involved for each group
were as follows: Residential buildings
SI5, I'D 900; commercial buildings. SIG. :
oS3 'OO0; educational buildings, Sill
4So'ooo; public work. $9,149,00O; indus
tflal buildings, $9.925, 900; airway i'm
P[eVements, $6,075,000; hospitals. So
o4o'ooO' unclassified jobs, S25 ,889 600.
nVe-year construction program, in
VolvIng tne expenditure of approxi-
lnately $lO0,000,000, was announced
during the week by the CHESAPEAKE a,
Potomac Telephone Co. of Washington
-. g.. The work to be carried out will
inciude the erection of new exchanges
ouilaings and the installation of central
once ana conduit cable equipment
rev construction and improvements
On properties in Delaware and Penn
sylvanla Will cost the Delaware Power
& Light Co. and the Delaware Electric
rover Co. $2,862000 in 1880. An office
building in Atlanta, Ga, will soon be
pullJ at cost OF So 500 900.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
STOCK LIQUIDATION
BELIEVED COMPLETE

BY the Associated Press.
NEW YORK. January 4.-Wall Street
accepted the December report of the
Stock Exchange on member borrowings
as indicating that liquidation in the
stock market had been rather generally
completed by the end of November.
Following two months of consecutive
borrowings by more than SO per cent,
the figures for December, as anticipated,
showed only nominal change, a fur
Their drop of $27033, 496 This negligi-
BILE change, II it did nothing more, Of
tered testimony of the trading char
acter OF the market during the month.
That fairly heavy volume Of time
loans running from three to six months
and maturing during December were
not renewed for the reason that easier
conditions are expected to prevail for
some time to come is indicated from
the drop of S106,0o0000 in loans of
that character.
Another sign of fair weather market
wise is found in rather widespread move
by commission houses in the direction
Of reducing margin requirements Only
few months ago the trend was gen
orally toward higher marginal require
ments, with each spectacular advance
seemingly inducing member firms to
boost their requirements accordingly.
Now. however, with the market heavily
liquidated and trading conditions gen.
orally approaching normal, many firms
are moving TO cut such requirements as
means of attracting new business.
One large firm. following the lead of
number OF others. has, for example,
announced that it is now ready to ac-
cept marginal business in securities
listed on the Stock Exchange on a rs
per cent basis. as contrasted with the
53Ha per cent basis in force heretofore.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
CURB ISSUES FIRM
AT SHORT SESSION
Trading Quiet as Market
Resumes Upward Trend
of Recent Days.
BY JOHN A. CRONE.
Special Dispatch to The Star

special Dispatch to The Star.
NEW YORK. January 4-Public
utilities led the rally on the Curb today
which was resumption of the trend al
the previous close. Moderate strength
and dullneSS, except in utility issues
were the outstanding characteristics OF
trading.
Commonwealth and Southern war
rants advanced. rejecting the strength
OF the common shares of the Morgan
utility over on the big board One block
OF 1900 warrants the largest transac-
ton in any stock in the first half hour.
came out at A. Sympathetic strength
was displayed by Niagara Hudson Power
Electric finance and holding COM
panies, utility investment trusts and
trading concerns and power and light
operating companies in order named
headed the upward SIDE of the market
Electric Bond e. Share. American <,
Foreign Power, United Light & Power
A. American Superpower and insult
Utility Investment were the early lead
ers. They we've followed by Allied
Power & Light Electric Power Assoc
ciates and Consolidated Gas of Bal
timore.
Natural gas stocks also received the
attention of professional traders Lone
Star Gas in the first half hour was run
up to 37l2, up Il points. Arkansas.
Memphis and United Gas issues rose
fractionally.
Dizziness marked the mine group
while Dayton Airplane Engine in early
trading was the only active air share to
appear on the tape.
Responding tn an official estimate of
S50,000,000 for 1929 sales, General Bak-
ing common and preferred shares
gained slightly. Completion of big
well brought activity and strength for
a time into Indian Territory Illuminat-
ing Oil Co., subsidiary of Cities Serv-
ice
The sharp recovery of Ford Motor of
Canada B non-voting shares featured
motor dealings, Stutz pointed higher
and Durant was a trifle better despite
price cuts announced by various motor
manufacturers.
Although Commonwealth and South
ern Warrants led in early trading they
were displaced as favorites in the last
half hour by Niagara Hudson Power.
one block of which, 10000 shares. came
out at 1875, up a point, and Niagara
Shares, which jumped in a few sales
from 1885 to 1914.
Motors displayed a flash of speed.
with Ford Motor of Canada B shares
the outstanding performer The curb
admitted to listing today shares of Gen.
eral Electric Co., French corporation
Dealings in industrials continued light
right up to the close.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
NEW YORK COTTON.

NEW YORK. January 4 (SpeciaD -
Selling pressure increased on the Cot
ton Exchange today and prices lost 10
to Is points, ending at the bottom with
March only points from low levels
OF the season.
January broke below II cents and
closed at 1895. which is virtually the
Farm Board loaning figure in New
Orleans, allowing the 35-point penalty
for Southern delivery on New York
contracts. Spots were reduced Is
points 10 IT'S.
"A break of cents buShel in wheat
and only a limited degree Of activity
In dry goods quarters reported during
opening days of the new year operated
against the market.
According to the Textile World, the
market for raw material though not
likely to make any sustained advance,
shows signs of sterilization on a basis
OF IL cents. Several factors are operat-
ing against advancing levels for raw
material. The general trend of BUSH
ness continues downward, while the
domestic dry goods trade is not good
The large holdings of cooperative as
Sociations, much of which is probably of
low grade, may readily prove factor
later on.
Cotton range:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
BY CHARLES F. SPEARE.
l Dispatch to The Star

Special Dispatch to The Star.
NEW YORK, January Am item in
this weeks Federal Reserve statement
which did not attract so much atten-
ton as the $96,000,000 increase in
brokers loans. but to which greater
banking significance is attached was
that of decrease in the rediscounts of
the member institutions of more than
$3.50, 1000 900.
The high rediscount policy of the
Federal Reserve Board was based
primarily on the expansion in the Dor
rowings of the banks. This concerned
the board while it was in progress
more than the steady increase in
brokers' loans. From the end of January,
1923, until the early part of July of
that year rediscounts rose from APP
proximately $685. 900. 900 to $l,19l ,000,-
900. A year later. or within a month
of the time when the New York Federal
Reserve Bank advanced it's rediscount
rate to 6 per cent, they we're still close
to the peak of the high money period,
or actually S1.153 100000
Today they are down to 1882, 900 900,
representing a contraction in little
over six months of AS per cent. This
compares with a shrinkage of more
than so per cent in brokers' loans be-
tween October and December "a, with
loans of Others of about So per cent
meanwhile"
Half Billion Estimate.
1t has been an accepted theory in
banking circles that there could be no
period of comparatively easy money
until the borrowings of the member
banks at the Federal Reserve were in
the neighborhood of $500 10000 1t
was predicted today that at the rate
these borrowings were being contracted,
and especially with the normal changes
at this time of the year, the $500, 000, 900
mark in rediscounts would probably
be reached this month. This would be
eminently satisfactory to the Federal
Reserve Board and would influence its
members a great deal in responding to
the present pressure for further re-
duction in the rediscount rate at the
important lending centers from Az per
cent to per cent.
The $500, 100000 amount of redis-
counts, however, would not necessarily
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
GRAIN MARKET,

CHICAGO, January Especially -
Wheat started sharply lower today
under general selling based on weak
ness in Liverpool. That market closed
. to pa lower, owing to further offer
ings of wheat from Russia. After the
FIRST half hour March was l2834; May,
1928; July, 1924.
Corn was weak with wheat. March
was 81; May, 94l2; July, 96L.
Oats weakened with other grains.
March was 47lA; May, 487s; July, 4734.
Provisions were unchanged.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
NEW YORK CURB MARKET
TO HAVE NEW BUILDING
BY the Associated Press.

BY LTt ASSUCIHIVU :
NEW YORK, January 4.-The New
York Curb Exchange, which several
years ago moved from the street to its
present building on Trinity place, is to
have a new and larger home. Plans for
History building, to be erected
around the present structure, were an
nounced today. Twenty-four trading
posts will be provided, eight more than
in the present exchange. The Curb Is
the countryS second largest securities
market, ranking next to the New York
Stock Exchange.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
COMMODITY PRICES
GAIN DURING WEEK

Commodity prices advanced one-tenth
Of l per cent for the week ended De-
cember %. according to the wholesale
price index Of the National Fertilizer
Association.
This advance offsets the equal decline
OF the preceding week. and the index
now stands at 95 per cent of the 1926
1928 average and or per cent lower
than for the first week of December.
Material advances occurred in cotton.
butter, wheat, oats, hogs and lambs.
Significant declines occurred in certain
foods, corn and lumber A total of 20
Items declined and 20 advanced.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
CHICAGO DAIRY MARKET.

CHICAGO. January (P-Butter-
Easy; receipts, 1904 tubs; prices un-
changed. Eggs-Firm; receipts. 4,35T
cases; extra firsts, A; graded hrsts, 4s;
ordinary frsts, 38 to Al; refrigerator
extras, 39Ia; refrigerator flrsts, 38I2.
Poultry, alive--Fowls easier, balance
steady; receipts, car; heavy fowls
asa: Springs, 2ll2; ROSTERS. II: tur.
keys, 40 to az: No. 2, Is; heavy ducks
To- geese. Is.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
Boer War Hero Gets Medal.

FRIEDERICHSHAFEN, Germany L1p.
-Belated honor has come to Count
HarraS Won Zeppelin, killed 80 years ago
IN the battle of Elandslaagte in the
Boer war. His relatives have Just re-
ceived a medal in commemoration of
his heroism. He was a nephew of the
inventor Of the dirigibe airship. and the
medal has been placed in the Zeppelin
Museum here,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
STEEL OPERATIONS.
BY the Associated Press.

BY the Associated Press.
Steel operations reached a low ebt
last week, as ingot production was re-
ported to the Census Bureau, and was
in percentage of plant capacity under
output for the same period last year
Figures for the percentage of steel ingot
capacity utilized during the week and
comparable periods follow:
Week ending December 20. ...... .6o%s
preceding week .......ss.sss.sA..o 3 "a
Same week last year S.a-, . ,ys~.e2Z
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
Organizes Realty Corporation

NEW YORK. January 4 (P).-The
General Electric Co. has organized the
General Electric Realty Corporation as
a holding and supervising company for
its property, aside from factories. Man
agement of the dozen or more ware
houses in various parts Of the country
will be co-ordinated under the new
corporation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
Business Notes


NEW YORK. January 4.-Total ex-
ports OF crude rubber from Malaga dur
ing December amounted to 48,5i3 tons,
compared with 46.279 tons in November
and 66,763 tons exported in December,
1923, according to advices received BY
the Rubber Exchange of New York.
l.. B. Davis of Hagerstown, Ind, has
been elected secretary of the Perfect
Circle Co, succeeding l.. S. Bowman,
resigned.
More than q billion dollars of new
life insurance was written OH q paid
basis by the Travellers Insurance Co,
last year, 1t Is stated in the company's
preliminary annual statement. This ex-
ceeded the new business Of the previous
year by $45,000,000.
December sales of the Edison Brothers
Stores amounted to $413,776, compared
with $324,726 in December, 1928. Sales
for the year aggregated 1881 ,62s, as
against $2,9S6 ,001 in the previous year,
an increase Of 25.6 per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04

Englands largest freight car, having
q capacity OF $50 tons and equipped
with So wheels, has Just been built.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
CHICAGO STOCK MARKET.
BY the Associated Press.

! DS Gic ASHVSHibtu FieSss
CHICAGO, January 4.-Following is
the complete official list Of transactions
in stocks on the Chicago Stock Ex-
change TODAY.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
BONDS.

1000 Edison as ST.. oGi4 aR% q6i.
1000 Chi City i Con SIS '27 Sc Sc Sc
10000 Chi Ry b SIS IT.. IS IS IS
1000 Chi City Ry ct SIS 81 10 rs rs
Stock sales today. l0l, 600 shares,
Bond sales today $4,000.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04
BONDS.

Total sales Vpar VaIueI. S1,1UUUUO.
(Copyrisht, $780, Standard Statistics Coz
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-04

From Yesterdays $50 Edition.
by the Associated Press.
STOCKS
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-06-26

AIR PUMPED INTO HEAD
Vienna.-(AP) - BY injecting air
into the head Prof. F. Frisch Of the
Vienna Children's General hospital
claims to relieve infantile epilepsy
and weakmindedness.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-06-26
ELK RITE FUNERAL
FOR ]. HOMAN FRIDAY
Services In Lodge Hall at 2:3o
P. NJ; Body Lies in State at
Webb Chapel Tomorrow

Funeral services for John Homar
will be held at Elks hall ut 2:30
o'clock Friday afternoon. In charge
Of the Elks. Interment will take
place in st. Mary's cemetery.
Pending services. the body will lie
in state this evening and tomorrow
morning at Webb's funeral chapel,
where friends may call for q farewell
look.
AS active p~allbearers John Peter
son, Frank Claussen. Henry l..
Reade, Plat Dunn, John Caplice and
Harry Woodmansee have been named.
The honorary bearers will be Charles
Rust, Duncan McGillis, Joe Dietrich.
Arthur Van Horn, Henry Richholt, W.
E. Breen, w. A. Falconer, J. D. Wake
man, Edward 8. Allen, F. w. Evans.
Frank Grambs, Jacob Horner. j. L.
Bell, DR.. Roam and Henry Tatley.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-06-26
SUSTAIN HOOVER'S
PENSION BILL VETO
House Begins Consideration Of
Legislation Intended as
Substitute

Washington, June 26.-R)-The
house sustained President Hoover to-
day in vetoing the World war veter-
ans relief bill.
Consideration Of substitute legisla-
ton designed to overcome Mr..
Hoover's objections to the original
measure began Immediately.
In his veto message tho president
again protested the bin sent to him
was unjust both to the veterans and
the tax payers. He said he wanted
"a square deal between veterans
not unjust discrimination between
special groups.
"And I do not want wasteful or
unnecessary expenditures"
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-06-26
SAFES BLOWN UP IN TESTS
ON NEW PROVING GROUND

New York. - (AP) The Under.
writer's Laboratories announces e..
tablishmept Of a bomb proof for
blowing up safes.
The shelter is an abandoned rock
quarry at Lamont, Ill, and protected
by q cliff 70 feet high and by rock
barbados.
Safes are wrecked In order to as
certain the types that resist burglary
most. Holes are made in them with
torches and drills.
Nitroglycerine is manufactured on
the lot in . special laboratory and its
power determined by blowing to bits
cold rolled steel shaftinx.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-06-26
AMERICAN TAKES PHOTOS
OF INSIDE OF STOMACH

Vienna. - (AP) - Success of an
American in photographing the in
terror of the stomach has raised enor-
nous interest in medical circles here.
DR.. William Paul Achner Of the
Mt. Sinai hospital in New York de-
scribed this photography. 1t was
done with q tiny camera made to be
swallowed, devised by Back of Vienna.
Aschner gave results of 81 photo
graphs of stomach LESSONS. There was
afterward opportunity to check the
accuracy of Is of these pictures by
operation or autopsy. In five cases
the photos proved more reliable than
the method known as the barium
meal.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-06-26
Senators Would Let
Muscle Shoals Power
Go to Municipalities

washington, June 26.-H1-By q
vote Of So to nothing the senate to-
day went on record In favor Of the
government selling power at Muscle
Shoals to municipalities on the same
basis as il is sold to private power
companies.