davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-10-16
HOOVER ACTION
IN BEAR RAID
QUIZ SEEN
Secrecy Maintained by All In
Matter Heightens Feeling
That Order Was Given

Belief remains strong In Wash
ington today that Richard Whit
ney and Allen L. Lindley, presi-
dent and vice president, respec-
lively, Of the New York Stock
Exchange, returned to New York
from their more or less secret
conference at the White House
with a charge from President
Hoover TO get at the bottom of
the recent wave Of short selling
and determine whether traders
have been using methods to de-
press the market in violation Of
the changes regulations.
The Sunday night dinner was
kept as quiet as possible. No In
timation was forthcoming that
whitney and Lindley had seen the
President until the story leaked"
in New York yesterday, and then
the White House would consent
merely to bare confirmation of
their presence.
Mr.. Hoover has been following
the cratic fluctuations Of the stock
markets closely, affecting as they
do business conditions generally
and the prestige of his admins
tration particularly. He is aware,
however, there is nothing the
Government can do to stop specu-
lators from selling short If they
so elect, and it is believed for that
reason he asked the Exchange
hoods into a0p1foSsoSaaa
Quiet investigations into the
recent manipulations of certain
big traders already have been
made, it was learned, and at
least one instance has been re-
ported to the President wherein
most questionable methods were
used in forcing the stock of q
motion picture corporation to
drop in startling fashion.
1t Is understood that Mr..
Hoover feels such practices
should be curbed by the ex-
changes committee on business
conduct-of which Lindley is
chairman. His friends point out
that, as the Government is power.
less to act. the change officials
should take steps under their
own rules.
The President has taken great
pains to say nothing or do moth
ing which might affect the stock
market since the depression set
in. The effort to cover up the
visit OF Whitney and Lindley was
an example Of this. All questions
bearing on the market go un.
answered at the White House.
The Washington times., 1930-10-16
Gillette F|RN
IN MERGER

BOSTON, Oct. 16 uNs).-An-
other chapter in the romance
Of the nations big business was
written today with the an
rouncement that Gillette Safety
Razor Company will acquire one
of its chief competitors, the Au-
toStrop safety Razor Company,
Inc, through an exchange Of
stock.
Founded in 1901 with, an origi.
nal investment of only 5000,
and with no additional capital
other than from earnings, the
Gillette Company has grown to
be BoSton's largest manufacturing
enterprise with a worldwide dis
tribution Of it's products. During
this time the Gillette Company
has distributed over $50, ,OO0. 900
to its shareholders in the form
of cash dividends. OF this
amount, $75,0O,OOO has been dis
tributed since 1917 when the
present management went into
the situation. Substantial sums
have been invested in the busi-
ness and charged against the
earnings.
j. F. Aldred, chairman of the
board of directors of the Gillette
Company, stated that the off
cials of both companies were
happy to terminate litigation
over patents begun some months
ago because litigation is, regard
less of the outcome, always ex-
pensive and harmful"
Announcement of the big mer-
ger marks the conclusion Of nego-
tiations that have been proceed.
ing over a period Of several
months.
The Washington times., 1930-10-16

One of the bright spots in the
steel trade during the past week
has been the placing Of several
relatively large orders for rails.
The situation in the automobile
trade appears to be exaggerated
Iron Age declares, and while there
has been a let-down in forward
buying, there has been no marked
falling off in the total volume OF
shipping orders.
In its weekly review of the steel
industry, Iron Age says:
Iron and steel specifications
have declined as caution has be
come more pronounced among
buyers. With continued rea%tion
in the grain and securities markets
and renewed weakness in prices OF
scrap, pig iron and finished steel,
the betterment in sentiment which
accompanied the short-lived mid
September rise in demand has
given way to a fresh wave OF ex-
treme conservatism.
lin OpeEaGlOnS nO1U
Interest in forward buying has
SubSided and consumers are again
sharply reducing inventories.
While this curtailment has been
SO severe that producers believe 1t
is being overdone. steel releases
remain numerous, If not individ-
ually large, and the decline In the
total volume of shipping orders
has not been marked. Steel plant
operations, at IS per cent, COM
pare with So per cent a week ago,
but, according to present indica-
tions, will not change materially
over the rest Of this month.
Tin mill operations, although
entering a period Of seasonal de-
cline, are holding at so per cent.
Tin plate business for the year
will fall less than 10 per cent be-
hind that Of 1929. Line pipe out
put, which has been heavy since
the first of the year, is tapering
and producers are making an ef-
fort to extend their present ton
mage over as long period as pos
sible. Several contemplated pipe
lines are now thought likely to be
held over until next year. The
latest project to be planned is a
22-inch natural gas line from Ken
lucky to Detroit, to extend a dis
tance of 400 miles. A Seattle
water line, now UP for bids. viii
require 10000 tons Of plates.
Auto Output steadies
The unfavorable situation in
the automobile industry, bad as
it 4. appears to have been exag-
The Washington times., 1930-10-16
Structural Steel
Orders Decline

New projects requiring fabri.
Gated structural steel, totaling 49,.
900 tons, are smaller than a week
ago, but include some sizable
buildings. according to the weekly
survey Of construction by The
Iron Age. A laboratory building
at ATS West st. New York, for
the Bell Telephone Company, will
take about 10000 tons: the Hotel
Meurice. on Central Park South,
New York, $500 tons; a bridge
over the Ohio River at Pittsburgh.
$500 tons. and an electric exhibit
building for the Worlds Fair in
Chicago, 1880 tons.
The Washington times., 1930-10-16
Cotton Seed Data
BU Census Bureau

The Bureau of the Census, De-
partment of Commerce, today is
sued the following report. cover.
ing the period from August to
September 10:
Cotton seed: Received at mills,
excluding reshipments 1876 1894
tons; crushed 727.395 tons.
Production: Crude oil 218,779-
241 pounds; refined 1884
pounds: cake and meal 327, $50
tons: hulls 202,667 tons; linters
127,O91 bales; hull fibre 1,433, 500
pound bales.
Stocks on han dSeptember 80:
Seed Cat plants) 695, ,033 tons;
crude oil 79.280,326 pounds; re-
fined 174,207,919 pounds.
The Washington times., 1930-10-16
Wall Street
Hears:

That American Chicle (ACJ
win sOOn increase it's dividend
rate.
That there has been q good
deal Of quiet liquidation in Pull
man tPUl.
That McKeespOrt Tin Plate
INV is an attractive purchase
on any recession.
That the highest grade Of
stocks, such as American Tele-
phone (T), ETC., and the radl-
cally speculative issues such as
United States Rubber (RU),
ETC., offer the best OppOrtuni.
ties at the present time.
The Washington times., 1930-10-16
VGnGdiIIna Pays Reg,
OnnitS Extra DiU.

The Vanadium Corporation of
America directors today declared
the regular dividend Of IS cents
share on the common stock
but failed to declare the usual
extra dividend of 81. The divi.
dend is payable November Is to
holders Of record November /.
A. A. Corey. president, stated
that insofar as could be deter.
mined. business was taking a
turn for the better Judging from
the inquiries being received. Or.
GERS were somewhat better, he
said.
The Washington times., 1930-10-16
REACTION is DUE IN MART,
SPECTATOR BELIEVES
Expert Thinks Too Rapid Rise Will Put
Market on Spot" Care in Making Com
nittments Is His Advice to Traders
BY THE SPECTATOR

For the first time many weeks Wall STREET has seen fit
to ignore avoabe news developments and lend an eager
to bright side of things. Little attention was
given rather pessmistc summary Of conditions in the
industry by Age while much comment was heard
concerning short interest the drop in Reserve
bank loans securities and other such items
stock market had another comparatively brisk recovery
the moving than three and onehaf points,
making total of about points for the week.
While many observers seem think that best thing
to do to swing along with the tide afraid can't
with The rally continue for another day or
but think the market is being put on spot and IS
due for another reaction So be careful IN making commit
Todays market ought to rmness during
the early portion with tendency toward rregulay later
in the day.
The Washington times., 1930-10-16
Coast Stocks Set
DiUideIad Records

LOS ANGELES, oct. 16.-CaSh
disbursements in the first three
quarters Of 1880 by companies
whose securities are listed on the
Los Angeles Stock Exchange,
show an increase of approx
mately 10 per cent over those in
the similar period of 1929, and
a gain of 81 per cent over the
first three quarters of 1928, &C.
cording to F. e. Sanford, secre-
tary and manager.
The Washington times., 1930-10-16
Burns Bros. to Buy
Coal From GerY,nnu

Through arrangements recently
completed with Hockelhovener
Coal Company, one Of the lead
ing anthracite producers in Ger
many, Burns Brothers has con.
tracted for exclusive sale of their
coal in United States and Can
ada. This arrangement win pro
vide Burns Brothers with small
size coal and will relieve them of
present necessity of buying large
sizes of coal in order to get the
small size most needed.
The Washington times., 1930-10-16
SI2,2OO,OOO Offer in
ChicHuO Warrants

Offering is being made today of
$l2.200,O00 City of Chicago tax
anticipation warrants, bearing In
terest rates from 59s to 6 per cent
and yielding 4.375 to AIS per
cent by a banking group compris-
ing Lehman Bros, Chase Securi-
ties Corp. and r. w. Pressprich
d Co.
The Washington times., 1930-10-16
Goodyear Rubber Co.
On 24-Hr. Work Week

Goodyear Tire & Rubber Co. to-
day established q 24-hour work
ing week. This is considered only
a temporary measure and COM
pany is hopeful that receipt Of
spring orders will restore full time
schedule
The Washington times., 1930-10-16
r. C.. A. Victor Soon
At 5000 Sets Daily

r. c .A.-victor Company, now
turning out 1900 radio receivers
daily, employing 25,S00 men at
its Camden plants. Production
will shortly reach capacity Of
5000 sets daily.
The Washington times., 1930-10-16
What Price Theaters?

Recent expansion programs by
many Of the motion picture com
panies have turned out to be
costly affairs. Warner Brothers
Is one example of a company
expanding too rapidly as far as
the stockholders we're concerned.
And now comes the story that
Paramount last year purchased
a number of theaters in Miami,
giving 10000 shares of it's stock,
which is guaranteed to be selling
for $50 a share on October 10
this year. AS the stock closed
that day at $49.75 a share, Para
mount is reported to have re-
purchased the stock at the guar
anteed price, thus sustaining a
loss Of more. than $360,000 on
the transaction.
Mr.. Whitney's visit to Presi-
dent Hoover is still the subject
of much comment in the Gus
toners rooms. No light has been
shed on that now famous en-
gagement and there is little likeli-
hood of anything definite being
done to enlighten the public.
Vanadium
There was considerable short
covering in Vanadiun1 yesterday
following the declaration of the
regular quarterly dividend of IS
cents a share. It had been taken
for granted that the extra divi-
dend would be omitted, but
good many thought a cut would
be forthcoming in the regular
rate. The gain of more than 4
points yesterday showed that
there was little stock to be had
on the increased demand. I
think there is too much "dyna-
mite" attached to the issue for
the average trader to fool around
in it.
am told that there has been
q great depletion in the short
ranks during the past few days.
If this is true, and from the way
some of the leading stocks are
lending at premiums I don't
think it is. then the market is
not in a strong technical position.
Certainly there hasn't been Suffi-
cient investment or bargain buy
ing to maintain the current
rally.
LOew's, Inc.
The action of I,oew's continues
The Washington times., 1930-10-16
Here and There


General Electric is expected to
show $1.47 a share for the first
nine months this year. This
would compare with $1.66 in the
same period of last year. And a
drop of 20 cents share on a
stock that pays $1.60 is nothing
to be overlooked.
Some quarters say that West
inghouse won't earn its dividend
in the current quarter. think
the stock can react five or six
points again before it is a buy.
Lehman Corporation report
showing assets worth more than
$86 a share would be interesting
If it weren't for the fact that the
stock was originally offered at
more than 500 and is currently
selling around $40.
And then there's Goldman
Sachs. But why go into that?
The Washington times., 1930-10-16
'Gernl0n Gold Loss
4OI,OOO,O 900 Marks

BERLIN, Oct. 16.-Further AZ
100000 reichsmarks German gold
was shipped to Paris and Amster.
dam today, making the total gold
losses since elections $4,000 900
reichsmarks to Paris and $1,000
600 reichmarkS to Amsterdam.
AMSTERDAM, Oct. 16.-The
weekly balance sheet of the Bank
of Netherlands shows gold imports
during the last week of 10000, ,0o0
guilders, all from Germany. An
other 100000 guilders arrived
today.
The Washington times., 1930-10-16

LOew'S, Inc.
The action of Isoew's continues
to impress its followers. The
stock rose more than 2 points
yesterday and was strong in the
The Washington times., 1930-10-16

The drop of $215,OO0,O0O In
loans on securities reported yes
terday and the increase of $15,-
100000 in commercial loans was
one of the brightest spots noted
in some time.
The Washington times., 1930-10-16
Brokers' Loans

Publication of the brokers'
loans figures this afternoon
should reveal another decrease
despite the fact that the stocks
have been working their way
higher. Short covering, although
not as large as many would have
you believe, has written off a
good portion of the loan figures
for the past week.
The Washington times., 1930-10-16

early trading when the rest OF
the amusements showed some
softness. Loew's Is currently sell.
ing around five and one-han
times its estimated earnings.
There has been some talk re-
Gently of an increase in the
dividend rate, with the possibility
of an extra in the bargain. I
think this is bit too optimistic,
but do like the stock around
it's present prices regardless Of
whether or not it passes the rate
or pays an extra.
The statement by Iron Age
that shipments Of steel continued
heavy, although new orders were
falling off, bodies no good for
the untitled tonnage figures Of
the United States Steel Corpora
ton for the current month. An
other drop in these figures would
bring them down to the lowest
levels in more than two years.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-30
GUILTY OF MURDER
IN DEATH OF CHILD
Warrenton Youth Convicted of
Beating Girl and Sentenced
TO Is Years.
Special Dispatch to The star.

Special Dispatch to The Star.
WARRENTON, Va, January 3O.-A
verdict of first degree murder was
brought in by the jury in the case of
James Pearson, accused of killing LII
liam Spinks, the 3-year-old child of
Mary Spinks. Sentence was fixed at
Is years in the penitentiary. The case
was heard before Judge j. r. H. Alex
ander, G. w. Carter was attorney for
the commonwealth, and the prisoner
was defended by w. H. Robertson of
Warrenton, and Wilbur Hall Of Lees
burg.
Pearson Is said to be only II wears
old. He had lived with Mary Spinks.
who is %, she testified that he wished
to marry her. but objected to her keep
ing the child. The three had been on
visit to his parents. Leaving Sunday
night their gas gave out and they spent
the night on the road.
Next morning Mrs. Grove, who lived
near the road, and her daughter testi-
fed to having seen Pearson beating the
child severely. Testimony showed that
Pearson carried the child back to his
fathers house in an unconscious con-
dition. DR.. j. r. Allen Of Marshall,
was sent for and found the child bruis-
ed from head to feet, her arm broken
and two conclusions of the brain. She
died few hours later.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-30
CHINESE OBSERVE
HOLIDAY SEASON
Extensive Visiting viii Fea-
ture Celebration of New
Year in Capital.

Their financial obligations met and
at peace with fellow countrymen, mem
bers of the local Chinese colony today
are exchanging visits and saying, Gong
he fab toy" In celebration of the
Chinese New Year, ushered in last mid
night.
Long before the midnight hour mem
bers OF the On I~Hongs and Hip Sings,
a few doors apart on lower Pennsyl-
van1a avenue, were busy arranging
tables and decorations in the halls of
their respective organizations, to say
nothing Of the huge pictures of notable
Chinese In front Of which incense later
was burned.
On the tables were spread candies,
all imported from China; nuts, cakes
and other delicacies.
In China, local Chinese explained.
the rich continue their celebration q
week or more, doing no work.
Celebration Here Is Brief.
Here it is different" he said. There
are many who have to work for a living
and cannot afford to neglect their work
and business"
Although visits were being exchanged
today, most of the visiting will be done
Sunday. Laundrymen will close their
places OF business early Sunday after
noon. receive friends and also visit.
Most OF the exchange of new year
greetings, however, will take place in
the halls Of the two organizations and
in the stores in the section known as
Chinatown.
The custom of each Chinese shaking
his own hands prevails to a limited ex-
tent. Many Of the younger generation.
however, merely exchange compliments
OF the season and engage in brief con-
versation.
No Chinese ever leaves the home of
his host without partaking of refresh
mentS, believing it an omen of i'll luck
not to do so. So 1t is with their Amer
lean callers. They also are supposed to
partake OF refreshments or risk the dis
pleasure Of their Chinese hosts.
Plan Meetings for Sunday.
The big doings Of the holiday season
VIII be staged in the halls of the two
organizations Sunday night, when mem
bers OF the organizations and their
American friends will assemble to hear
the Chinese bands.
With the instrumental music there
probably will be few vocal accompani-
mentS.
Late last night Chinese in the lower
Pennsylvania avenue section busted
themselves making preparations for
their celebration, and shortly after mid
night groups OF them gathered around
banquet tables in Chicago restaurants
and other places in observance Of the
advent OF the holiday season.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-30
CASHIER OF DEL RAY
BANK IS ARRESTED
Clay T. Brittle Is Held for Al
legged Shortage of
100000.
special pispatch to rhe star.

special Dispatch to The Star.
ALEXANDRIA, Va, January 80
Clay T. Brittle, 80, of this city, cashier
of the Bank of Del Ray, which closed
its doors on orders of the board of
directors January 81 for purposes of
an audit was arrested here shortly after
Z o'clock last night on warrant sworn
out by two trustees Of the bank, charg-
Ing that he defrauded the bank of q
sum In excess of 100000.
Brittle was brought to police head
quarters here and locked up and his
bond was set at $4,000 by Judge Will
liam P. Woolls of the Corporation
Court. The case was noted as postponed
In Police Court this morning and q pre-
liminary hearing will probably be held
tomorrow. This hearing may be waived
but Brittle will not decide on this until
he engages an attorney. An alternate
Judge may have to be appointed by the
governor II the case comes to trial in
Corporation Court, since Judge Woolls
is a trustee of the bank.
Expects Bond.
When interviewed this morning Brit
tie stated that he expected his father,
s. e. Brittle, would visit him today and
arrangements would be made for a
bond. He also stated that he had deed
ed property over to the bank A double
set of ledgers was kept by the accused,
according to information received here
this morning.
The arrest of the cashier, which was
on the action of the board OF directors
of the bank after he was said to have
been found to be more than 100000
short, came suddenly and greatly sur
priSed every one, since no action of this
sort had beep contemplated. No state
ment as to how the shortage, which is
considered exceedingly large with rela-
ton to the size of the bank, had been
brought about or what disposition was
made OF the money alleged to have been
embezzled, has been made by ofilcials of
the bank.
1t is expected by those in close touch
with the matter that the approximately
900 depositorS viii not lose any portion
Of their deposits. The capital stock Of
the bank amounts to $25,000 Brittle, it
understood, was surety bonded for
1000, and the accused man is also
said TO own considerable real estate.
Arrested ut Home.
The arrest was made at the home Of
the accused, on Timber Branch Drive,
this city, shortly after Z O'Clock last
night by Detective Sergt. Sims, Sergt.
Everly and Patrolmen w. Bayliss, J..
BayllsS and Grimm. on O warrant sworn
to by Nelson T. Snyder, president of
the bank, and Henry p. Thomas, one of
the directors, before Justice of the
Peace French. Witnesses were listed on
the warrant as Snyder, Thomas, Carl
Budwesky, T. Guiffre, John Gary and
George e. Garrett, all trustees of the
bank.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-30
AMERICAN RED CROSS
HONORS PERSHING
General Named. Honorary Chair
man-Gen. Keefer Heads
D. c. Chapter.

Gen. John j. Pershing was elected
honorary chairman and Gen. Frank r.
keefer chairman Of the District of Co.
lumblt Chapter, American Red Gross.
at the meeting Of the chapter Tuesday.
OCner Officers were chosen as follows:
Miss Mabel Boardman, second vice
chairman; Mrs. Theodore w. Richards.
secretary; H. s. Reside, treasurer:
George B. Mcclellan, counselor; Mrs.
Margaret Hood Robbins and Charles e.
Howe, assistant treaSurers; Mrs. Harry
2. Barnes, In charge of the roll call and
pubic information, and Miss Bessie
Carney, director of home service.
Chairmen and vice chairmen, resnec-
lively, Of the standing committees were
chosen as follows:
:, Judge Walter Mccoy and Judge Will
nam II. DeLacy, home service: Admiral
Joseph Strauss and Victor 3. Devher
budget; Gen. Charles McCawley, house !:
MAJ. Gen. Anton Stephan and Conmo.
dore w. z. LongfelloW, first aid and life
saving and rescue squad; Miss Eleanor
M. Connolly and Miss Elise H. Alexan-
DER, star assistance; Miss Anna C.
Koerper and Miss L. s. Wolfe, Braille
committee. Mrs. John H. Fishback. Mrs.
"A. y. Cnappen and Mrs. John Switzer,
production; Miss Lydia Loring and Mrs.
James B. Reynolds, canteen; Mr.. James
8: Vance, acting chairman, motor corps;
Miss Mary C. Carmody and Mrs. A. j.
Chappen, home hygiene, care of the
sick and health aids; Mrs Reeve Lewis
and Mrs. William s. Spencer, hospital
course and service, and Miss Berthe
BackuS and Mrs. George r. Cottle. Ju-
Nor Red Cross committee.
Mrs. John B. Mertie was named
chairman and Mrs. Alice Dean, vice
chairman, of the Takoma Park Branch
committee.
The chairman and vice chairman of
the disaster relief committee will be APP
pointed later.