davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-26
CHICAGO MAY GET
POWER CONGRESS
World Session at Berlin Con-
CIuded, With Resolution Ap-
proving General Work.
BY EDGAR ANsEL A1owRER.

BY Radio TO- The star and the Chicago
Daily News. Copyright, 1880.
BERLIN, Germany. June 2e.-The
second International Power Congress
ended last night with q resolution ap-
proving its general work. The already
excessive diet of food, drink, speeches
and wholesale sightseeing Is proving too
much for many Americans, who have
been drifting to Carlsbad, Marienbad
and other gastronomic repair shops, in
order to recover from ultra high power
iiving In Berlin. Delegates generally
consider that the congress touched any
number Of high spots, and that the dis
cussion of technical subjects was ex-
hauStive and, in some cases, tluminat-
ing.
Next Power Conference.
1t seems possible that the next
power conference will be held In the
United States. possibly In Chicago, next
Summer, but in view Of Canada's de-
sire to have the meeting it is possible
that some neutral spot like Niagara
Falls will be selected.
Opinion is still interested in the III
sull incident, some taking the view that
Ambassador Frederic M. Sackett aired
American dirty linen" before foreign
ers, others that Mr.. Sackett did well In
calling the worlds attention to the ne
ceSsity for private power producers to
justify their efficiency II they wish to
avoid public ownership.
The general results OF the meeting
are a certain number Of convictions:
First, that the immense Importance
of power has not yet been realized by
the world.
Second, that power although not yet
an important export problem may soon
become one.
Situation Favorable.
The American situation is favorable.
Power machinery Is an important Amer
lean export, constituting one-fourth the
worlds export of power machines. Ger
many comes second with one-half of
. Americas production but higher pro-
portional export.
Among many personal adventures of
American delegates, the most amusing
is that of Henry j. Pierce, vice presi-
dent of the Electric Bond & Share Co.
Mrs. Pierce, it appears, is Zeppelin
fan, rivaling Lady Drummond Hay. Re-
Gently she went from Friedrichshafen
to South America with the Graf zep-
pelin. Pierce himself took his first Yep
peltn ride while here, and was aston
ished when one of the officers of the
airship approached him with blue
fountain pen and asked him to return
1t to his wife, who had left 1t behind
in her cabin.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-26
BRITISH ELECTION SEEN
London Papers Draw Inference
From Macdonald's Talk.

LONDON, June % R.-Additional
hints of an impending general election
in England were said today to have
been given by Prime Minister Macdonald
at meeting of the parliamentary Labor
party yesterday.
Several British morning papers re-
ferred to the matter, including the
Laborite Daily Herald, which said that
Mr.. Macdonald indicated possibility of
a general election In the Autumn" The
Mail had it before Autumn"
The statement in any case seemed to
have been indefinite and to refer to a
possible contingency rather than an
expectation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-26
Phone User Robs Register.

A colored man who asked Wardell
Dexter, manager of the Dexter Auto
Supply Co., at Twenty-seeond and L
streets, for permission to use his tele-
phone yesterday afternoon walked into
the office and rifled the cash register Of
$S8 while employees Of the company were
waiting on customers.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-26

100 sheets of Ripple Bond
paper with 100 envelopes to
match; large single sheets.
Tuck a box or two into the
children's camp luggage; buy
for your own vacation CORE
Spondence.
PALATS ROYAL-Mdin Floor
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
Public Utilities
BY GEORGE T. HUGHES.

CThis is the fifteenth article OF a series
on the subject Of public utilities, cover
ing the principal operating and holding
companies, giving their history, held OF
operations and an analysis of the capital
structure. Mr.. Hughes will discuss bonds
facts without any attempt to recon-
tiesJ
Electric Power and Light Corporation.
Like National Power g. Light, dis
cussed in the previous article in this
series. Electric Power & Light has the
benefit OF afiiiiation with Electric Bond
& Share It's subsidiaries serve large
number of communities in the South
and West. Among the principal con-
trolled companies are Dallas Power g.
Light. New Orleans Public Service,
Idaho Power, Utah Power & Light,
Utah Light 81 Traction, Louisiana
Power & Light, Mississippi River a.
Light and Arkansas Power g. Light.
Somthing like two-thirds of gross earn
ings come from the sale of electric serv-
ices, but natural gas is taking larger
part in operations now than 1t has in
the past and its proportion will prob
ably increase in the future.
Expansion along the natural gas lines
was facilitated some six months ago by
the organization of new subsidiary,
through its subsidiaries owns and con-
trolls large natural gas areas in Texas
and Louisiana. 1t is the outlook for
growth in this field which gives spec
ulative attraction to the common stock
of Electric Power g. Light. The divi-
dend rate on the common is 81 q share,
which seems amply conservative in view
of the income statement for the IL
months ending September 80 last,
covering a period of depression in bust
ness, which shows $293 share for
the. stock. In the same period IL
months ago earnings on the common
were S279 a share.
The market capitalizeS these earnings
generously, but that is characteristic of
its appraisal of other strong public
utility equities. The senior securities
have investment merit in varying de-
grees. There is long term per cent
debenture bond selling to yield around
per cent and three series of preferred
stocks. The 81 and the $6 first pre-
ferred have the prior claim on earnings,
the 81 second preferred class "A" has
preference over the common subject to
the prior preference of the first pre-
ferred. Fixed charges are covered about
l.6 times and fixed charges and pre-
ferred dividends taken together about
Is times.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
Brokers' Comment

NEW YORK, December 27-Advices
to customers today indicated considera-
bic uncertainty over the immediate
trend of the market, with an inclination
to feel that the mid-month lows may
have to be thoroughly tested. Extracts
follow:
Hornblower 81 weeks-"We expect to
find real resistance developing around
the lows of December, which we believe
will hold at this time"
Jackson Bros, Boesel g. Co.-"Year
end developments imply some additional
liquidation in the stock market, but we
do not look for any critical situation to
develop. We anticipate concentrated
liquidation in isolated issues only. The
market is again filled with scale order
buying orders representing the pur-
chases Of investors who annually come
into the market in December to take
advantage OF tax selling"
Shields & Co.-"Returns from retail
trade circles bear cut our survey of
holiday buying of q fortnight ago.
While volume of sales of the larger de-
partment stores was fairly large, the
greater part of the buying was in
fluenced by price concessions, with the
organizations makes poor comparison
with those of previous years. The
smaller shops. particularly those deal
ing in novelties and Injuries, appar-
entity suffered most of ALL"
Pask & Walbridge.-"The next few
days will probably witness dull markets
with underlying strength. Business ac-
tivity will likewise reflect the year end
AL M eriv
of the immediate future. Special con-
ditions continue to make available
stocks of our leading banks at levels
which place these stocks on the bar
gain counter"
Redmond g. Co.-"Persistent selling
of Bethlehem Steel suggests the pos
sibility Of cut in the So dividend next
year. Full years earnings for 1880 are
expected to show between SIS and $3.50
a share, depending on year-end adjust
ments. with perhaps little or nothing
earned in the last quarter. The next
dividend meeting will be held the lat
ter part of January"
Hamershlag, Borg e. Coin our
opinion, the first important test of the
market in the new year will be the
publication of unfavorable earnings
statements and possible cutting of divi-
dends by some of our major corpora
lions. The latter condition has always
prevailed before the conclusion of a
previous bear market"
Smith, Graham & Rockwell-"Busi-
ness conditions show no change to alter
the belief that the trend of the market
Is still toward lower levels. Rallies do
not hold and when they come along
should be used for making sales"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
SIGNS SEEN
IN STEEL MARKET
Improvement Held Near Fol-
lowing Light Year-End
Purchasing Orders.

As usual at this season, holiday and
inventory shutdowns are depressing the
purchasing, production and shipment Of
steel, says Steel, Cleveland. Launched
from an abnormally low level, the con-
sequence of IL months of declining &C
tivity, the year-end dip probably will
be the most pronounced in at least six
years, and there are no illusions that
the industry will snap back promptly
after New Year.
In some districts the policy OF banks
to deal draStically now with doubtful
financial situations in order to know
the worst before 1881 opens has lent
further encouragement. Yet, the in
dustry as a whole has discounted the
present period OF minimum activity.
sentiment is not unduly detected and
there are occasional signs in the market
that some improvement is near.
Sheet Business Picking Up.
Contracting for sheets for the first
quarter Is moderate to excellent in prac-
tically all districts despite the loathuess
of automotive consumers to commit
prior to the verdict of the January
shows. Between now and the year end
the railroads will put about 100000 tons
of rails on mill books. and they have
fair inquiry out for equipment. Struc-
tural steel inquiry is more promising
First signs of support for steel from
emergency public construction have APP
peared at Chicago, where bridges for the
Lakes-to-Gulf Waterway. expected to
be expedited by congressional appro-
priations, require 10000 tons. Forty
thousand tons of structural work is
pending at Chicago, with like tonnage
in prospect.
New York Central is formally distrib-
uting 5000 tons of rails, with track
fastenings to follow. The Pennsylvania
award of 10000 tons, with $4,000 tons
additional optioned, is near, but awaits
decision on new section. other rail
awards this week include 10000 tons by
the Denver & Rio 0rande and 5000
tons by the Chicago Great Western.
Pig Iron Market Status.
Recent contracting for pig iron has
covered so to 70 per cent of probable
firSt-quarter output. Production in the
Mahoning Valley has been reduced to
three stacks active out Of "a. The one
active stack in Virginia has been blown
out, with 4o 900 tons of iron piled. Scrap
prices continue in delicate balance,
some grades being slightly higher at
Pittsburgh. Part of IL 900 tons of cast
iron brought by Detroit was placed with
the representative of French interests.
Steelmaking operations opened the
week at 80 to IS per cent, but most mills
will be idle Wednesday night to Monday
morning. Buffalo mills have unexpect-
edly expanded from "a to 80 per cent.
Cleveland mills maintain a 4s per cent
rate. Other districts are lower, Bir-
mingham being below 40 per cent, Pitts
burgh $3.50, Youngstown %, Chicago
and phfla delnhia 20-35
Foundry iron at Philadelphia has
been reduced so cents, resulting in a
decline of 2 cents this week in Eteels
market composite, to $31.66.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
STOCKS DEPRESSED
AT SHORT SESSION
Weakness in Wheat Market
Is Reflected in Selling
Pressure.
BY GEORGE t. HUGHES.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, December 27.-Selling
orders predominated at the start in to-
days week end market and STOCKS
went lower. Some of them, including
number of important issues, moved
After the overnight orders had been
executed the pressure lifted and the
market recovered partially.
Sentiment was adversely affected by
the weakness in wheat on Friday. When
it was stated that July wheat at chi
cago of the new contract had sold at
the lowest since 1896, the gloom in wall
Street was intensified. Similarly, when
in the first hour today Westinghouse
Electric and General Electric went into
new low ground it was discouraglng,
and yet as far as the stocks were con-
cerned, at least, the loss was negligible.
II was the persistent downward trend
that counted in the minds OF traders.
The fact that progressively greater re-
sistance was displayed on the decline
was overlooked.
Besides the two electrical manufac-
turing stocks, new lows for the year
were recorded by American Smelling &
Refining, Bethlehem Steel, Western
Union, Montgomery Ward, Macy d Co.
and International Telephone & Tele-
graph-a rather imposing list. There
was little in the news about any of
these companies to account for the
liquidation, If it was liquidation. The
market was said to be discounting a
downward revision in the dividend rate
on Bethlehem Steel, but the regular
quarterly disbursement to be paid IN
February has already been declared.
Railroad stocks could hardly have
been expected to stand up under the
weight of the November earnings state
ments. To take only two examples,
both Of large and prosperous systems,
New York Central reported November
gross of $34,s23, $40 against 5,179, 241
year ago, and net of 81 ,946, 404 against
$6.058,783 in 1929, while Atchison had
gross this year of $18198,1 22 against
S23, 930,S52 in November, 1929, and
net of S4,o62, 1886 against $7,742, $50.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
AVIATION INDUSTRY HAS
GOOD 1891 PROSPECTS

Special Dispatch to The Star.
CHICAGO, December 27A-Accord-
ing to Halsey Dunwoody, vice president
Of Universal division, American Air
ways, Inc, aviation, the infant among
American industries. is leader of
those industries which have gone for
ward in 1890 despite the heralded de-
preston.
tical matter, Col. Dunwoody compiled
this month. it is shown that aviation
has enjoyed banner year, conquering
time and space, overriding depression
and unemployment, and goes into the
new year to achieve new and more
remarkable performance records.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
EXPORT TRADE IN IRON
DECREASES IN NOVEMBER
BY the Associated Press.

BY the Associated Press.
Export trade OF the United States In
iron and steel products dropped 10000
tons in November. as compared with the
previous month, while imports rose
period.
Tin plate, the Department Of Com
merce reports. was the principal product
exported, followed in order of impor-
lance by black steel sheets, skelp, scrap
and unfabricated plates. The months
principal market was Canada, which
took 4e ,e2e tons
The chief product among the imports
was pig iron, Of which 1922 tons was
received. Other outstanding classes in
this trade were structural shapes, mer-
chant steel bars and ferro-manganese.
India was the chief supplying country
followed by Belgium, Germany and
Aha United Kingdom
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
WARNING IN CHICAGO.
Exchange Asks Members to Send in
Film Certificates.

CHICAGO. December 81 (R.-The
Chicago Stock Exchange and the, Asso-
citation of Stock Exchange Members
have warned all their member Arms to
send in certificates for inspection, fol-
lowing the New York exchanges order
to stop trading in temporary Fox Film
Glass A certificates.
Arthur Wood, president Of the Chicago
exchange. said he had discovered the ex-
istence of other forged stocks since
Louis LLssman was arrested Wednesday
as he tried to cash a $4,000 cheek
given him by brokerage firm in ex-
change for 900 shares of alleged forged
Fox Film stocks.
The brokers, STEM Alstrin q Co., said
they verified other Fox certificates with
the Bankers Trust Co. of New York
and no other forgeries were disclosed.
However, the Herald and Examiner
said today forged certificates represent
ing 1900 shares OF Fox stock, valued at
S89, 900, had been discovered, and that
forged stock of at least two other large
corporations" has been placed in circu-
lation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
FAKE STOCK PAPER
RESULTS IN PROBE
Better Business Bureau IS
sues Warning in Fox Film
Certified Forgeries.

BY the Associated Press.
NEW YORK, December 2T.-A warn
ing that forged temporary certificates
for Fox Film Glass A stock had been
discovered in Chicago has been issued
by the Better Business Bureau, an or
ganI2ation Of merchants.
Since the permanent certificates have,
been listed on the New York stock Elk
change the temporary ones no longer
are negotiable. the statement said, but
financial houses were cautioned against
receiving them.
The bureau and the Bankers Trust
Co. are conducting an Investigation TO
determine whether the forgery was
widespread.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
INTEREST RATES.
Ry the Assoclated Press.

by WIG HSsOCIdVtu FIthA'
Money rates strengthened last week
as compared with the previous period as
their change was calculated by the De-
partment of Commerce In the totals
that follow the average for both classes
of funds is shown at leading money
centers for comparable periods:
Time-Week ended December 90,
800; previous week, 2.75; same week
last year, 500 Call-Week ended De-
cember 20, 2.42; previous week, 400;
same week last year, $50.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
Money to Loan

Secured BY. .aFst deed Of trust on real estate.
Prevailing interest aud commission. 4
Joseph |. Weller 81 sias m's III 1 S TIs:'
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
First Mortgage Loans

Lowest Rates Of interest and Commission
Thomas J. Fisher & Company. Inc.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27

CONTINUED on Page 81
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27
NEW YORK STOCK EXCHANGE
Reetsa by wEs Dksc.O Star

Note-An stocks are sold In one hundred-share lots
excepting those designated by the letter (80s) (250s
which shows those stocks to be sold in odd lots only
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-27

Smith. Graham g. Rockwell-"Busi-
ness conditions show no change to alter
the belief that the trend of the market
Is still toward lower levels. Rallies do
not hold and when they come along
should be used for making sales"
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-01-27

arrests. and furnished information in 90 other ar
rests made by state officers.
A total Of s52 stills were seized. This was the loot:
gallons Of spirits or distilled whiskey. s7,7l2; gallons
Of beer, 1902: gallons Of wine, 1876; gallons Of
cider. s; gallons Of mash, $4,000.
In the war waged against rum runners ass automo-
bies valued at $4,000 and two boats valued at
s4S50 we're captured. The total appraised value Of
property seized In raids was set at $247, 579.l2.
From ocean to ocean and from Canada to Next
CO pro agents are on the trail of rum runners and
al ~violators Of the pro law and in the city Of Wash
ington. the capital Of the republic. the real estate
agents have declared var on bootleggers and re-
solved that all business houses and private residences
shall be occupied by law-abiding citizens, who re-
spect the majesty Of the law. including the 18th
amendment and the volstead act.
II the real estate agents honor and uphold the
pledge they have given to the government, then the
city Of Washington Is going to be as dry as a bats
cave IL the prophecies Of the pro prophets are real
lied. Ali this reminds the American that there is
going to be lively times in political circles in the grand
old commonwealth this year. and that the man or
the woman without q poll tax receipt or an exemp-
ton VIII be as lonely as q shipwrecked mariner
on a rocky reef far from shore.
All men and women, regardless Of political affilia-
ton or cliques or clans. are reminded that the coun-
ty tax collector is doing business at the old stand.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-01-27
Lawmakers are Milling Around

Texas lawmakers are milling around. They accept
ed the invitation Of the governor to get a closeup
Of prison farms. They departed. They got their
closeup. They viii return to Austin many men Of
many minds"
Sen. j. r. McFarlane Is chairman Of the senate
committee on penitentiaries. He called his commit
tee together and four bills were reported out by the
committee after a lengthy session. All four will be
thrashed out on the return OF the lawmakers.
There is a majority bill which has the backing
Of Sen. Witt and Chmn. Wallace. This calls for a
new industrial prison within 20 miles Of Austin.
There is a bill to build a new prison at Huntsville.
It Is the child OF Sen. Nat Patton and Rep. Harry N.
Graves.
BY the way. Graves is the gentleman from VIII
Hanson. He is from the governors home county.
He is the personal but not the political friend Of the
governor-that is, when It comes 10 voting for the
location Of the new prison plant
Those who are close to him say that a penitentiary
n hundred miles from Austin would not appeal to
him any more than a penitent.ary 20 miles from
Austin. Williamson and Travis counties are neigh
bors.
A third measure calls for the location OF a new
prison plant on the Imperial prison farm. in Fort
Bend county. II Is the child Of Dewey Young Of
wellington. away out IN the North Texas Panhandle
country.
Rep. Leonard Tillotson OF Sealy is the author Of
a fourth plan or measure. Rep. Tillotson is a states
man who dearly loves to pour oil on troubled waters
and to make haste slowly.
He proposes TO separate the agricultural and indus
trial plant at a point to be decided by a new locating
commission.
This would be passing the buck from the 4lst leg
tslature to the 42nd legislature, a body Of lawmakers
TO be picked by the people Of Texas in the month
of July and 70 be elected in the month Of November
m the fall OF the year.
Yes, the lawmakers are milling around. Tney may
continue to mill around until the expiration OF the
fourth special session.
Then no doubt another special session will follow
and the flowers OF spring will be peeping their heads
above the surface Of the earth and the feathered
wnrblers will be t~wittering in the treetops before IL
nal action has been taken on this problem as well as
the lawmakers OF Texas.