davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
RAILWAY INDUSTRY
PLANS EXPANSION
Huge Budgets Prepared for
This Year Following
Gains in 1929.
BY the Associated Press.


NEW YORK, January 1.-THE cleo
trio railway industry in 1929 earned the
largest net revenue in its history, car
ried almost $4,000, 100000 passengers
and will spend this year for new plant
and equipment, maintenance and mate
rails a total of 1911 ,220, 900, Electric
Railway Journal reports, in making
public a survey just completed. The
budget for 1929 was 1857 ASS. 900.
The total gross revenue Of the cleo
trio railways in 1929 was SI,13O,O O0, 900,
a gain of $40 100000 over 1928. The to-
tai net income for 1929 was $50, 000, 900,
which sum compares with $7S,000.0 900
for 1928. Capital invested in the urban
and interurban lines as 1880 gets under
way totals to $500, 000, 900, the survey
shows.
Employ 100000 Persons.
The GIL electric railway companies in
the United States employ 100000 per-
sons and last year paid to them oper-
ating wages aggregating $424, 1000, 900.
These employees rendered service over
42.431 miles of track. The companies
operate 1854 BUSES and own 100, 255
cars and locomotives. They operated
more than 1000, 100000 revenue car
miles in 1929, gain Of 100000 over
1928. The total Of passengers carried
was 1880 ,000 900. A total Of 0,000,-
600 revenue bus miles was operated by
the lines.
Car and car equipment purchases in
1890, the survey report shows, will con-
tinue the expenditure gains noted in
1929. For that year the companies
spent $28, 10000 for new cars and car
equipment. This year they will spend
a minimum of S31 800, 900. These fig
ures compare with the $18,900,000 out
Law for new cars and car equipment in
1928. The companies expended $81.-
9O0,0 900 for way and structures In 1929.
The 1880 budget calls for an outlay OF
S8S, 400 900 in this classification.
In all, the urban and interurban lines
will expend $19,900,000 for new buses
in 1880, as against $17.300,00 expended
in 1929. For power equipment the COM
panies plan expenditures totaling So
CSC, 900 this year. Last year their out
lay for power equipment was $7,570, 900.
Stability Of Industry.
I'm view of the somewhat disturbed
condition of the general business
brought about by the recent market
crash" the journal said in summarizing
the survey statistics, the figures OF 1929
and the forecast for 1880, both showing
increases, are of real significance. They
emphasize again the fundamental sta
bility OF the electric railway industry
and its relative immunity to fiuctua-
tions in trade. Expenditures for the
past year were not curtailed in any in
stance and most of the electric railways
reporting showed increases for $780,"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17

Vic oSCuTICl6S mar
ket BY this interest greater distribu-
ton of assets occurred. Corporations
have increased their capital issues be-
cause of larger volume of business, or
by reason Of mergers or consultations
These issues took various forms
bonds Of many kinds, preferred and
common stocks. There were many re-
adjustments of capital. Frequently
bonds and preferred stock were re-
tired leaving the common stock as the
only capital issue.
This, in itself, is very confusing and
creates a perplexing problem at the
outset in the mind of the investor 1t
brings before him the necessity of eau
ton and actually makes it imperative
that the thinking investor investigate
the financial structure of the corpora
ton in which investment is contem-
plated.
While the Federal Reserve system
was organized for the purpose of giving
an elastic currency, and in the Ian
guage of its forefathers preventing the
flow Of the nations credit to Wall
Street. nevertheless it has enabled the
building Of credit structure which
indirectly has proved an outstanding
factor in the absorption of securities"
Mr.. Corby outlined specific factors
that required consideration by the In
weston. such as the kind of industry,
the time element, state of employment,
the purchasing power of the people and
covered in a broad way basic principles
of investment in railroad securities,
copper securities, the retail field, etc.,
and concluded:
Success is gained through intelli-
gent effort and to the investor study
and preparation are essential to the
intelligent correlation of facts; there
upon envy and prejudice vanish and
truth unfolds itself in wider wisdom"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
CURB SHARES EASE
IN SELLING MOVE
Motors, Mines and Radios
Are 0ff-Profit Taking
in Utilities.
BY John A. CRONE.


NEW YORK, January 17.-After
opening active and irregular, curb
stocks today eaSed and slowed. Motors
mines and radios were conspicuously
soft and some utilities that we're re-
Gently whirled ran into profit taking.
Foreign buying in Utilities Power q
Light common and B shares put them
UP rs and 1924 points respectively.
The New York State Utilities. Niagara
Hudson Power. Niagara shares, Eastern
States Power B. Mohawk Hudson pre-
ferred and ST. Regis Paper. so popular
in the previous session, were relatively
inactive today.
Pivotal issues like American Super
power, Electric Bond & Share and
United Light & Power felt the effects
of profit-taking. Standard Power &,
Light old shares for a time were higher
and so were Electric Power & Light OPP
tional warrants.
Erie Railroad rights, representing the
privilege of subscribing to shares Of the
PittSton Co., formed to lease the coal
properties operated by Pennsylvania
Coal and Hillside Coal, both owned by
Erie, made their bow on the curb at
ia, but later we're quoted at /.
Bear1Sh rumorS circulate ABOUT Ine
motor industry affected the automobile
shares. Further shutdown of mines by
Anaconda to hold down production
proved depressing in mining shares.
Newmont Mining, holder of mining
securities, was of at times more than
two points.
Virtually all radios were offered. as
radio over on the big board declined.
Trade circles believe further concen-
tration of the radio business will take
place as a result of recent receiverships
and lower earnings.
Arcturus Radio Tube moved counter
to the general downward trend as re.
suit of an announcement that 1t Will
make a complete line Of battery type
tubes In addition to present lines.
Further reductions in crude oil prices
brought new selling into the petroleum
division. Several large blocks Of Stand
ard Oil of Indiana. one Of them for
$500 shares, changed hands at slightly
lower quotations. Humble, Standard
Oil of New Jersey subsidiary. which in
augurated the recent price revision. was
down 2 points in the forenoon. Cities
Service was of more than point and
its subsidiary, Indian Territory Illuml-
mating, was nearly points lower.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
BY JOHN r. SINCLAIR.

Special Dispatch to The Star.
NEW YORK, January 17.-When
the Senate yesterday voted to retain the
present tariff rate on sugar it settled
at least for the present, one OF the most
disputed political-economic questions OF
the proposed tariff bill. Powerful in
terestS were working for increased pro-
lection. other ones, just as powerful,
were interested in keeping the present
rate.
Senator Tom Connolly Of Texas in
sisted If the increase suggested by the
finance committee was adopted 1T would
cost the American people an additional
$54, 900 900 year.
"Only one-fifth of the sugar consumed
in this country is produced here" said
the Texan. That means that only
$Il 900 900 will go to American in
terests. So the bill proposes to tax the
American consumer $4,000, 600 to give
the American sugar farmer $500. 000.'
Upon the theory that only so per
cent of the amount of the cost going
to American interests ever trickles down
to the sugar farmer, most OF this would
60 to the sugar producers OF Hawaii.
Philippines and Porto Rico.
The finance committee had asked for
an increase in the rate from LIS cents
q pound to 2.20 cents a pound.
This probably spells the doom OF any
increase in the sugar duty incorporated
in the new tariff bill.
Less than $240, 100000 was used by
the bankers committee to plug the
airpockets" in the stock market crisis
of October last. Many believed the
figure was several times this amount.
On October "a, in the Morgan offices,
six institutions pledged 0,000 900 each
for the pool. They were j. p. Morgan Il
Co., the National City Bank, the Guar
anty Trust Co., the Chase National
Bank, the Bankers Trust Co. and the
The purchases were made for the
group by the Morgan firm and kept for
the account of the whole group.
Even this fund was not all used.
Since that time some of the stock has
been sold, but the total amount left in
the hands of the group, to be divided
up equally among the different men,
bers of the consorium, Is less than
500 100000.
Thomas W. Lamont, spokesman,
handled the situation for the bankers
throughout the crisis.
Most of the stocks, having been
bought at figures much lower than
present prices, will probably be put into
the strong boxes of the various banks
and disposed Of later.
Paramount amous-Lasky Corpora
ton will announce today net profits for
the year 1929 Of $15,500,000 after all
charges and taxes. This is equal to
S6.34 a share on the average outstand-
ing shares during the year-a gain OF
about 10 per cent over 1928. The
profits of all subsidiary companies in
these figures are included from the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
Baltimore Markets
Special Dispatch to The star.

Special Dispatch to The Star.
BALTIMORE, Md, January 17.-Po-
tatoes, white, barrel. 1.50a4.00; LOO
pound sacks, 1.75a2.65; swc"t potatoes.
barrel, l.50a3.00 yans, barrel, 200a3.0O;
beets, crate, 2.75a3.00; beans hamper,
l.50a375: cabbage, hamper, 40a65; car
rots, 100, 20oa400; caulifiower, crate,
1.25a2.25: celery, crate. 1.50a325; let
tuce, crate, 4.5oa5.25; kale, barrel, LISA
$50; onions. 100 pounds, 1.75a2. 90;
peppers, crate, 300a4.00; peas, 5.00a
$50; parsnips, basket, 50a65; spinach,
busnel hamper, 50a90; apples, bushel, IS
a225: cranberries, box, 3.00a4.75;
grapefruit, box. 2.50a4.75: oranges, box,
2.15a4.50; tangerines, box, 1.25a2.4O;
strawberries. quart 30a40.
Dairy Market.
Poultry, alive-Turkeys, pound, goa
"a: old toms. 22a25: Spring chickens,
25a28; Leghorns, 21a22; old hens, goa
81; Leghorns, 22a23; poor and thin, II
ala: old ROSTERS, 17a18; capons. 32a36;
ducks. 16a24: geese 15a22; guinea fowls,
each 40a45; pigeons, pair. rs.
Eggs-Receipts, 814 cases; native and
nearby, firsts, Al: pullets. IS; hennery.
whites, frsts, dozen, AZ; culls and dirty
eggs, 25a30.
Butter-Good to fancy creamery,
pound, 33a38: ladies, 30a32: store
packed, 90 rolls, 27a2s; press, 36a37.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
FIGHT FOR HIGHER SUGAR DUTY
MAY END WITH SENATE VOTE
Effort to Increase Tariff Received Seriou:
Blow in Action Yesterday-Bankers
Pool Report.

date of their acquisition only and moi
for the entire year.
Dividends of $7,300,000 were paie
during 1929 and the balance of $780,.
900 added to surplus.
Paramount has no bank debts anc
only $14, 1928. 900 of 6 per cent deben.
ture bonds prior to her common stock
Earnings are about 10 times the annual
interest requirements of these bonds
The year 1929 was the most sue.
cessful year in the company's history
De luxe theater operations, which ir
the last few years have made motion
pictures the principal public recreation
have been a large contributing factor
in our prosperity" said Adolph Zukol
in discussing Paramount's expanding
business Talking pictures have help
ed lot. but the real factor In oui
growth has been due to the great
amount of earnings which we have
plowed back into the business since
1916"
William Fox is Offering $35, o00, 900
of per cent three-year gold notes to
provide funds to handle his more press
ing accounts. He is going directly to the
$4,000 theater owner customers Of the
corporation and to the $4,000 employees
Of his various corporations, as well as
to the $4,000 stockholders of the pres
ent companies.
Just what is being put up as col
lateral for notes has not been an
nounced.
Mr.. Fox's obligations in the immedi-
ate future are understood to be more
than the amount of these notes, but
it is believed that such an issue will
constitute a breathing spell in the
period Of readjustmnet.
Scores Of prominent business men and
financial services have been quoted on
the present business situation and Its
given at random, but few attempts have
been made to group them and show the
total decline in business activity.
The New York Annalist, In its annual
review and forecast number, issued to-
day. reports a sharp decrease in the
index of business activity. The index, in
May was 108.8-the high for the year
and the preliminary December index
Is 90.1-the low for the year-a decline
of 1877 points. This carries the index to
the lowest level since August, 1924.
Says the Annalist: THE most i'm
portant factor in the December decrease
was a further drastic reduction in the
rate Of automobile production. The
next was further pronounced recession
in the adjusted index of electric power
production. Another was further
sharp decline in the adjusted index of
steel ingot production, which is at its
lowest level since July, 1924"
1T believe that when we look back a
year or two over the charts of last De-
cember we shall find that they regis
tered the industrial lows Of the period,
and that they will show a gradual i'm
provement from that point on" said
Waddell Catchings, of Goldman-Sachs,
In discussing the business outlook.
(Copyright, $780, by North American News
paper Alliance.)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
CEMENT MERGER UNITES
CENTURY-OLD COMPANIES
sn.c,aI Dispatcb 10 The Star.

Special Dispatch to The Star.
CHICAGO, January 17.-Through the
merger of cement companies, formed
by the consolidation of Universal Port
land Cement, Atlas Portland Cement,
Atlas White Portland Cement and Atlas
Lumnite Cement into the giant Univer-
sal Atlas Cement Co., 1t is estimated the
combined production will approximate
sc, GAO, 900 barrels of cement annually.
The concern, subsidiary OF the
United States Steel Corporation, with
headquarters in Chicago, will double
the present capacity Of Universal, 1t is
said
Benjamin F. Afieck will be president
of the new group. Changes or additions
in the plans have not yet been dis
cussed, although it is assumed that there
will be no closing of plants anywhere,
as the centers served by the merging
companies involved no duplication.
Atlas and Universal have grown up
with the cement industry. Each COM
pany is more than a century old. and
after the merger each will continue its
old general policies.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
INSURANCE COMPANY
DECLARES DIVIDENDS
Stock and Cash Payments Voted
and Officers Chosen by
Local Concern.

The annual meeting of stockholders
of the Lincoln Assurance Co. Of Amer
lea, home ONCE Washington, was held
on Wednesday in the washington Loan
a. Trust Building. The old officers and
directors succeeded themselves, as fol-
lows:
C. p. Hull, IT., president; Alexander K.
Phillips, vice president and secretary.
Directors. C. P. Hull, jr.; Alexander K.
Phillips, Edmund D. Rheem, Charles r.
Grant, H. Glenn Phelps, Alfred H. Red
ding and John T. Meany.
A stock dividend of $4,000 was de-
clared in order to bring the paid-in
capital stock to 100000. A cash divi-
dend Of per cent on the capital stock
($200, 000) was also declared.
The statement Of business for the year
1929, as submitted was satisfactory.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
STOCKS MAY DECLINE;
THEN GAIN IN SPRING
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, January 17-Hornblow-
er & Weeks, in their January Invest
ment Review. state they look for a sub
stantial improvement In general busi-
ness this Spring, and in consequence
anticipate materially higher prices by
late Spring for all representative invest
ment securities. They point out that
1t is possible lower security prices may
be registered in the meantime as re-
suit of current indifference toward
trade news and unfavorable earnings
statements covering the last quarter of
1920. They also look for q Spring i'm
provement In the bond market.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
MONEY MARKET.

NEW YORK, January II (F1.-Credit
continued in plentiful supply today, re-
fiecting the flow of funds to this center
which normally continues during the
first three weeks of January.
There was little change In rates how
ever. Call money renewed at Al per
cent and was again reduced to 4. Time
money was slightly lower. Thirty-day
loans were quoted at "A TO AZ per
cent. and two to six months, Al to "a
The rates yesterday were quoted at ~
fiat for 80 TO 90 days and 4sz for four
TO six months.
The demand for bankerssr acceptances
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
NEW YORK COTTON.

NEW YORK, January II (P).-Cotton
opened steady today at an advance OF
to points on trade buying and COW
ering, which was probably Influenced
by the fairly steady showing OF the
earlier Liverpool cables. Liverpool later
eased on, however, and after selling at
lisa for March and 1857 for July at
the opening or about to points net
higher, prices here slipped back to
about yesterdays closing quotations.
Trading was quiet with the market
steady at the end of the first half hour.
Liverpool cables reported trade calling
and an active spot demand with con-
tinental buying, also a fair cloth In
quiry from India. although many offers
were unavoidable
Liverpool spot sales were reported at
10000 bales. but they included only
1000 baleg OF American cotton.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
GRAIN MARKET.

CHICAGO, January IT R).-Asser-
lions by the Canadian wheat growers.
pool that world demand for wheat is
improving. and that the pool will be
able to dispose of its wheat to adj
vantage, lifted wheat prices today in
backs in Chicago wheat values were
more than overcome. There were also
tate reports that a good-sized export
business In North American wheat had
resulted from today's breaks in prices
ana that the principal supporters at
the rye market would in due time ac-
contracts. -AA I'll
Wheat in Chicago closed irregular
.ansing from "a net decline to . adj
vance. compared with Yesterdays An
lsh, Rye finished liz to 2K of: corn
n to up; oats unchanged to X high
er, and provisions showing 2 to 40 rise
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
SCHNEIDER BAKING co.
NAMES 1890 OFFICERS

At the annual meeting of stockhold-
ers of the Charles Schneider Baking
Co., Inc, the following officers were re-
elected: John G. Weinberg, president;
A. H. Pitt, vice president; A. Fred Jorss.
treasurer; B. F. Rover, secretary and
assistant treasurer. Other directors
elected were Henry Troeger, Gertrude
E. Berens, j. A. Eisenbeiss and John B.
Geier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
COPPER OUTPUT CURTAILED.

NEW YORK, January 17.-Further
curtailment of its production was an
nounced today by the Anaconda Cop
per Mining Co. It's Original and
Anaconda mines were closed last night
A few days ago the company announced
temporary suspension of operations at
other properties. The curtailment is
the result Of an increase in the stocks
of refined copper between December J.,
1929, and January l, 1880.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17

was better than for the past few days,
but rates were unchanged. Commercial
paper was fairly active, with rates un-
changed, at ~ per cent for best names
and 5H for good names. The bulk of
the business was said to be done at Az.
The large offerings of bonds this
week, most OF which will be paid for
during the. next fortnight. may deter
further easing of money rates.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
METAL MARKET.

NEW YORK, January II R.-Cop-
per quiet; electrolytic, spot and future
10. Iron quiet, unchanged. Tin easy
spot and nearby, $3.50; future. 3012
Lead steady; spot, New York, 6.25; East
st. Louis, $40. Zinc easy; East st
Anthony, SIS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17

night before the
Wharton School OF
Finance in Phila-
delphia, his sub
ject being Seeking
the Truth in Sc
curities." Among
other things Mr..
Corby said:
Securities should
be selected after q
thorough investiga-
ton Is made to
obtain the truth
regarding them.
In the past few
years the public
has participated to
a greater extent
than ever before In
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
POTATO MARKET.

CHICAGO. January II (H9 Omitted
States Department of Agriculture) .-Po-
tatoes-Receipts, "a cars; on track, 1859
cars: total United States shipments, 735
cars: trading slow account of weather:
market steady; Wisconsin sacked round
whites, $50 to 265; Idaho sacked rus
sets, $40 to $50; few, 3.35.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
PARIS BOURsE PRICES.

PARIS, January II (P.-Prices were
steady on the Bourse today. Three per
cent rentes, 83 francs: per cent loan.
los francs SIS confines: exchange on
London. 123 francs 81 centimes. The
dollar was quoted at Is francs 45A
centimes.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
Markets at a Glance

NEW YORK. January II P-Stocks
weak: communications issues lead de-
cline. Bonds firm; high-grade issues
dull. Curb heavy: oils under pressure.
Foreign exchanges easy: sterling at
months low. Cotton steady: trade buy
ing. Sugar lower: liquidation. Coffee
lower; easier Brazilian markets.
CHICAGO. January II (R.-Wheat
firm; better export demand. Corn firm:
firm Southwest markets. Cattle steady.
Hogs higher.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
CORBY URGES STUDY
IN ALL INVESTING
Local Financier Makes Address at
Wharton Institute in
Philadelphia.

Karl W. Corby. Washington finan-
cier, stressed the Importance of investi-
eating thoroughly every investment be-
fore action is taken, in an address last
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17

silk furnishes the longest continuous
fibeY known. One cocoon has been
known to yield nearly three-quarters
of Q mile.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17

Australian white ants are appallingly
destructive. They will attack and de-
molish large farm cart overnight, leay.
ing only the metal parts uneaten.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-02
TOMMANEY RESIGNS
AS PROBE GOES ON
Chief Clerk for Sheriff Farley Third
0ficeholder to Quit During
Inquiry.
E. the Associated Press.

E. the Associated Press.
NEW YORK, September 2.-Thomas
r. Tommaney. chief clerk in the office
Of Sheriff Farley and one of the prin-
cipaIs in the Ewald-Healy political
loan" investigation, resigned today.
Tommaney had handled the $4,000
loan made by Mrs. Bertha Ewald, wife
of former Magistrate George F. Ewald,
to Martin j. Healy, Tammany district
leader, a few days before Ewald was
appointed q city magistrate in 1927.
Ewald has resigned as a magistrate
and Healy as deputy city commissioner
of plant and structures. Tommaney
was the last Office holder in the case
TO relinquish his official post.
Ewald and Healy are under Federal
indictment, Healy for failure to file an
income tax report and Ewald for mail
fraud in mine promotion. The matter
of the S1O,0 loan Is under investiga-
ton by Attorney General Hamilton
Ward.
Tournaments letter of resignation told
Sheriff Farley, II am doing this so as
to relieve you Of any further embarrass-
metk" ii. -