davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-08-22
Business Machines

An analysis Of companies max.
ing business machines and office
equipment being completed by
one Of the leading banks puts
international Business Machines
at the top Of the heap. This
company is said to be best Situ-
ated to get foreign business If
any tariff reprisals take place.
Earnings have been good, despite
the business depression.
Remington Rand is said to be
less favorably situated. due to
expiration soon Of typewriter
patents in several countries
abroad and the likelihood Of in
creased competition. Underwood
Elliott is highly regarded in con-
servative quarters. National Cash
Register should do better:
7 consider Chesapeake and
Ohio one Of the cheapest high
grade stocks on the big board.
Ea1nings for the first seven
months were well over 50 share.
and Chesapeake should earn at
least s. on the common for the
year. The stock should go to so
In any kind Of a market on earn
iiags alone. Any rise in C. and
q. will be reflected in higher
prices for Chesapeake Corporation
and Allegheny.
Dangerous Game
! The rails. Southern Railway in
particular, again were the target
Of. the bears yesterday. It looks
to me as though shorts may be
selling themselves into a bag on
the leading carriers. This seems
O. rather late date to hammer
away at the railroads because
their earnings are bad. They
should be better rather than
worse before long.
: Southern, especially, is danger.
Gus on the short side. The stock
has a big short interest already,
and director. was quoted only
two days age as repeating that
the So dividend would be paid
this year. Earnings for 1880 are
The Washington times., 1930-08-22

The bond market Is beckoning
to the cautious investor. Employ.
rnent for his funds at 5 and 9
per eentis offered while he awaits
stabilization Of the stock market
The listed bond market has
been edging further into new high
ground for this year. Activity has
been gradually picking up. Prices
on the whole have recovered to q
level comparable with the closing
months of 1923.
This recovery has not been
sharp. just a few cents each day
on the average, but weight is
being added to the old and often
proved adage that history repeats
itself.
History Repeats :
In all past periods Of business
depression and market defiation O
rising bond market has preceded
an uptllrn in business and stocks.
The reason for this is simple.
Bond market prices are governed
chiefly by money rates, except, Of
course, In the case Of convertible
bonds or those bearing Stock-pur-
chase warrants, which are in.
fluenced by stock movements.
In boom times, when money is
in demand and interest rates
high. bonds are lower. Bond prices
are forced down until the investor
receives a, return as great. II not
greater, than interest rates on
loans.
In times Of business recession
and Stock-market dcflation, money
goes begging. Interest rates Of
2 and 8 per cent and even lower
become general.
The money is diverted to the
bond market. Banks and inStitu-
tionS are the buyers first, then
the individual and prices go up.
This is what bond prices are do
ing now. The SteadinesS Of this
advance Is one Of the most en-.
couraging. features Of the present
confused situation.
Record Of 192O-21
Back in 1920-2f-the years so
frequently compared with 1929-30
scraped bottom in the
The Washington times., 1930-08-22
Rising Bond Prices
Prove Tempting to
Cautious Investor

summer Of 1920, but the decline
In stocks was carried through lin-
I'll the summer Of 1871. Bonds
started to move forward In 1920
and reached their peak in 1922.
For three years the bond market
followed a-fairly even course.
Stocks did not make much
headway from their low point in
1921 until late In 1922, after
bonds had reached the top Of
their swing. The next year
1023-witneSsed little change in
stocks from the improved levels
reached in 1922, and 1t was not
until late in 1924 that the bull
market that died last fall got
underway.
Easy Money Assured
Conditions point to o continua.
tion Of the present upward trend
in bond prices.
The Federal Reserve authorities
are committed to. an easy money
policy-that is, to make available
to business and agriculture the
lowest possible credit rates.
Gold exports are being offset
by Federal Reserve purchase Of
Government securities. This pre-
vents narrowing Of the credit.
base.
There is one unfavorable condi-
Of rush for loans for industrial
expansion and stock market spec
ulation.
THERE'S one unfavorable condi-
ton, which I pointed out earlier
In the year. Bank loans on secur-
tiles to individuals are high, al
though some reduction in these
loans has been made in recent
weeks. .s,5
The investor in high grade
bonds at current levels Is assured
Of an adequate interest return on
his money, with excellent chances
for appreciation in value Of his
holdings. But in bonds, as in
stocks, care must be exercised in
buying. Not all bonds are good,
bonds. To wit-the obligations Of
many Of the foreign government
issues. The most recent case Is
Mexico.
The Washington times., 1930-08-22
Business Machine
Man. Is. Optimistic

Optimistic signs are on the hori.
zon for business, both in the
United States and Europe, J. n.
Barringer, vice president and gen
eral manager Of tha National
Cash Register factory there and
the installation Of $50 men in the
new structure was one Of Bar
ringers Jobs while in Germany.
Germany, he declares, is coming
back nicely. National Cash Regis
ter business In Great Britain Is
the largest in history. France
also is a bright SPOT in European
National Cash Register business,
according to Barringer.
The Washington times., 1930-08-22
PRODUCTION IN
COAL DROPS

Production Of coal In New
Mexico in 1929 amounted to
2,622.769 net tons, according to a
statement Just issued by the
United States Bureau Of. Mines,
Department Of Commerce. In
comparison with the previous
year, this is q decrease Of 9,0S2
tons, or 3.3 per cent.
The greater part Of this de-
cline is accounted tor by reduced
output In 'colfax county where
production declined from 1853 $40
tons in 1923, to 1851 800 tons in
1929, q decrease Of 1877 per cent.
This decrease was partly offset
by q substantial gain in McKtn-
ley county where production III
creased from 770,844 tons in 1928
to 933,467 tons in 1929. Colfax
county still remains by far the
most important coal producer in
the State, accounting for 65.4
per cent Of the total output.
The total value Of the coal pro,
duced by the mines in New
Mexico in 1929 was $S,314,OOO, or
an average value of $3.17 per
ton, which was slightly less than
that Of 1928 when the average
value was reported at $3.18. In
1929 there were 1888 men EN-
ployed in the coal industry Of
the State, as compared with 3,441
men in the previous year. The
average number Of days worked
In 1929 was .214 days, as against
2I3 dayS In 1928,
The Washington times., 1930-08-22
WEEK END PROFIT TAKING.
!: !. !. To SLOW EXCHANGE
Steadily Rising Markets Should Not Be Elk
4 pected; Series of Trading Markets
ss.z. sS Expected for Some Time
BY THE SPECTATOR

market by its action is pointing higher There
little seloff yesterday with rally at the close.
The advance likely be resumed today the
ing that brokers loans down for the week. On the
other hand there will probably be considerable proftakng
the approach Of the weekend which bring about
standoff
Don't expect steadily rising markets for while, not
at least until the business picture looks healthier The best
looked Of trading markets with
wide swings In individual issues believe however
danger of serious reaction while and that there
less risk in buying the leading stocks than month
ago. E.s.
The big fellows feel frtender to the market Buying has
been better than the selling for the week The market
has strong sponsorship My advice yesterday to buy the
good stocks reactions. This advice st holds good
The Washington times., 1930-08-22
FACTS

Left New York City, Aug. IL, 1901
AM. eastern Standard Time)
Arrived Los Angeles, Aug. is, 4:Ss
PM. Pacific Standard Time).
Total time east to west 67:SS hours
Rest at Los Angeles 4:46 hours
Left Los Angeles, Aug. is, s,25 PM.
Pacific Standard Timel
Arrived New York City. Aug. 10, 9:45
Pm. Eastern Standard Time)
Total west to east time 69:2O hours
Total time for round trip 141:44
hours
Hawley never left the car but took
on relief drivers for short distances.
The Washington times., 1930-08-22
NEW PIPE LINE
IS STARTED

Construction Of the GreenviIle-
Greenwood pipe line, through
which natural gas win be con.
Quoted from the main Louisiana.
Memphis pipe line Of Memphis
Natural Gas Company to several
cities and towns In Mississippi,
was started today, according TO
uncement Of .. C. Shaffer,
general manager Of Memphis Ma
tural Gas Company.
Included among the communi-
ties to be served with natural
gas through the new line are
Leland, ndianola, Morehead, Itta-
bena and Greenwood.
Part Of the cost Of the lire
viii be borne by Memphis Natural
Gas Company and part by Mis-
SiSSippi Power and Light Com.
paIly. Distribution systems in
the various communities win be
constructed and operated by the
Mississippi Power and Light Com.
pany.
The Washington times., 1930-08-22

~ You are looking for "For Sale''
signs ON Washington homes, save time
ana effort BY consulting the real
GsHAH.s, EstaIs 1oF Sale columns Of tOday's
The Washington times., 1930-08-22
100000 Stock
Insurance Planned

"A 81, 1,0GO. .0OO. 900 stock insurance
syndicate of 200 insurance COM
pal1ies has. been proposed by
Franklin johnson, an insurance
broker, according to the Specta-
tor, an insurance publication,
The plan calls for q policy
which world protect investors
against losses in about 800 Sc
lected securities. It would cover
them against losses they might
insur from inability to sell stocks
at cost during depresSions.
The Washington times., 1930-08-22
Bankers ReUieuU u. S.
Home Products

Hornblower and Weeks mem
bers Of the New York Stock Ex'
change, have prepared q special
analysis Of the American Home
Products Corporation. The re
view states:
cit is our understanding that
earnings during the curTert
year compare very favorably
with . year ago, and the prOba.
bility is that 1880 win establish
another new -ecrod from the
standpoint Of both sales and
earnings"
The Washington times., 1930-08-22
A Good Sign

Brokers' loans were down $27,.
600, 900 last week to $3,128, ,00O, 900,
the lowest level in three years.
This occurred while the market
was forging steadily ahead, q
healthy sign. It would indicate
that stocks were passing into
strong hands, which brightenS
the immediate outlook for the
market.
Loans at this time last year
were $6,0S5, 100000 When the
Big interests are ready to put
real cash into the market, it
would seem that the little fellow
can follow their example; at
least, until some warning signal
is given. Reactions are not likely
to 60 far.
The oils are still staggering
under the blows of the passing
of the Shell Union and Warner
Quinlan dividends and the un-
settled condition of the industry
as a whole. They were soft yes
terday on disguised liquidation
and scattered selling. am bull
ish on the leading oils, but buyers
must remember that they may
need the patience Of job before
any big market in the petroleum
stocks develops.
The Washington times., 1930-08-22
Here and There

They are talking Of 20 for y.
q. l., but interests close to the
company say they knov nothing
Of any coming move. Better
earnings Of Public Service Of New
Jersey is bullish on U. g. I. and
United Corporation. Both, have
huge blocks Of Public Service.
I hear smart people have been
buying lard and expect it to go
to Is cents. It was UP 2 cents
yesterday.
A clever Statistician lists five
stocks he believes will be way UP
front in the next bull market.
They are American and Foreign
Power, Houston Oil, Case Thresh-
ing. Worthington Pump, and
United Aircraft. Pump is acting
as though it were ready for some
Of its old "whoopee" on the up
side.
hear there may be q quick
play in RaybeStos Manhattan.
There is similar talk about q. s.
Pipe and Foundry.
Cotton is considered cheap for
a long pull. It may be a real
long one, though.
I hear Of good buying in Radio
and Radio Keith. They are talk
ing Of a big move In Radio. Some
say 70, but I would settle for less
II I owned the stock. Radio
Ketth's earnings are. being revised
upward.
The Washington times., 1930-08-22

estimated at only 81 on the COM
mon, it is true, but next year
may tell different story, and is
a long way off.
There is a better feeling
around about Woolworth. The
stock has good, rating. August
sales, I am told. will be lower,
but will make a better showing
with q year ago. There Is some
talk Of an increased dividend by
the end Of the year If earnings
show q real comeback.
The Washington times., 1930-08-22
HAWKS IN THE TEXACO 13
HAWLEY In A NEW BUICK 8

faster than the fastest train time, is mighty
tribute to the stamina of the man, the car and
the crack:prOof Texaco Golden Motor Oil
which cooled and fabricated the tireless
engine throughout the grueling drive.
The same new and better TexacO Gasoline
and crack.prOOf Texaco Motor Oil which
Ha'"ley. used is available at TexacO Service
Stations il all our 48 States.
THE TEXAS COMPANY, TszaoO PesrOleuu. Product.
The Washington times., 1930-08-22

ANOTHER cOast-tO.cOast record toppled
"A within week! First Hawks, and now
Hawley, clip hours from the best previous
transcontinental time. The one in the air,
the other over the road. e'Stu" HawIey in
stock Buick Eight-66S set new east-to-west
and return record, beating the amazing
time established by ''Cannon Ball" Baker
by more than fifteen hours.
This remarkable run, seventeen hours
The Washington times., 1930-08-22
ke Action Higher With Chance ADers Spectator
Local Stocks

CFurnishsd By W. B, Hibbs q Col
SALES
Warrington Railway and Elec
trio pfd., lO@09.
washington Cons. Title 6s
The Washington times., 1930-08-22
MERGENTHALER LINOTYPE co.
Brooklyn. n. r. August 10, 1880.
DIVIDEND NO. 1sa.

anaItefly dividend ~ 91.5o upon each Of the 49,
900 shares q present outstanding stock Of no par val
ue d Merganthaleg Linotype Company win be paid
they appeaF q the close Of business on CepfeboP
3. 1880. The Transfer Books will not be clossd
GEO. L. SCHARFFENBERGER. Treasurer.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-14
NORWOOD SUIT
RECOMMENDED
Hidalgo Grand Jury Report
Brands Jail Conditions
As Corrupt
Especial to The Herald.)

EDINBURG. Nov. i4-That a suit
be filed against o. o. Norwood. Aus
tin. for the payment OF approx
mately s250,o00 balance due on
bonds Norwood Is alleged to have
purchased from the Donna indepen-
dent road district some time ago,
and that w. l.. Pearson and Com
pany, Houston. road contractors,
and builders Of the roads in the
Donna district. be requested to COM
rlete work to the amount Of $4,000
in that district, were recommended
"a q written report TO Judge Hood
zone by the grand jury of the 10th
district court Of Hidalgo county at
Edinburg Thursday.
The report also called attention
to what il branded corrupt" con-
d,tions in the Hidalgo county Jail
In the Norwood case, bonds to-
taied s224.0o0 and interest Of SIG 900
Is allegedly due. and Norwood is
said to be behind in his payments.
Referring TO the Pearson recon-
riendation. the report suggested the
filing of a suit If work was not com
menced Immediately. IS it is al
legged that the Pearson firm has been
paid the money on contractors es-
Inmates and work never completed.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-14
Colonel
Arrives at Fort

Lieutenant Colonel Stephen w.
Winfree. recently assigned to the
18th Cavalry. reported for duty Fri
day. having driven overland by auto
mobile from New York City.
Colonel Winfree comes 3 o this sta
ton from detail III connection with
the pilgrimage OF war mothers TO
cemeteries Of France.
A native OF Missouri. Col. VIM
free graduated from the Missouri
Military academy in June, 1908.
when he was appointed a second
lieutenant in the 9th Cavalry. He
served with that regiment contin-
uously and was promoted TO first
lieutenant in N2rch. 1911. He was
transferred to the 7th Cavalry in
November. 1915. In July. 1915. he
was promoted to captain and trans
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-14
IS Seen
FOR CONGRESS
Appropriation Bills Will
Be Pushed By Both
Party Leaders

WASHINGTON. Nov. 1A.-tP,-
Despite fresh signs Of democratic
restiveness under the non-obstruc-
ton pledge Of party leaders, it ap-
peared today there would be no
organized effort at the December
term Of congress to force an extra
session In the spring.
President Hoover announced re-
ceipt OF assurance yesterday from
leaders in the senate of both
parties that no effort to block the
annual appropriation bills would
be countenanced. Upon these mea-
sures operation Of the govern
ment depends and II their pas
sage were prevented by filibuster-
ing. the new congress would have
to be called into session.
Democratic willingness to CO.
operate left only the Western Re-
publican independents unccmmit-
ted. Senator Brookhart. republican.
Iowa. is one Of those who has
proposed an extra session. but
without democratic support the
independent group would have a
hard time putting over a success
full filibuster.
Disposal of this first hazard to
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-14

the administration prugram for
the short session left the president
free to lay plAna to attack ano-
ther obstacle-the conference dead
lock over the Muscle Schoab lensla-
ton. A compromise between the
Norris proposal for government
operation Of the Alabama Nitrate
and Power Plant which the senate
approved. and the house plan for
leasing 1t to private interests, Is
hoped for by some. Republican
independents plan to insist upon
action and word has been taken
to the president that the question
requires serious thought.
Twice after calls at the White
House Senator McNary Of Oregon.
Assistant Republican leader. has
expressed determination to stick to
the Norris PROPOSAL. This. although
after a similar visit, represent
alive Reece. republican. Tennessee.
had predicted a veto II the senate
plan should prevail.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-14
SUMMARY

An area OF moderately low to low
barometric pressure covered the
plateau, central Rocky Mountain
and central plains states this morn
ing Barometer at Denver 1886
inches, while moderately high ba..
ometric pressure still prevailed to
the eastward. Cloudy and unsettled
weather with light to moderate gen.
eral rains prevailed from the Gulf
states northward again during the
last "a hours, and snow and much
colder weather overspread the far
Northwest. From the Rocky Noun
tains eastward temperature changes
were mostly unmportant.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-14
Cost Subject
Of Rotary Meeting
Especial to The Hera.d)

Especial TO The Herald
SAN BENITO, Nov. 1.-THE cost
and effects Of war constituted the
subject of an Armistice Day talk
before the San Benito Rotary club
Thursday at the Stonewall Jackson
hotel. Rev. Hugh Robertson, past..>
OF the First Presbyterian church.
making the talk.
Mrs. James d. Ward sang several
appropriate selections with Robert
Reed playing the piano accompani-
ments.
Pilots in San Benito for the airport
orening were guests.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-14
San Benito Offices
Will be Remodeled

Especial TO The Herald
SAN BENITO. Nov. l4.-Entire
second floor of the building at the
intersection Of South Sam Houston
Boulevard with Bowson Street
belonging to the T. P. Roberts
Estate, is TO be remodeled into
business offices.
Ten office rooms will be provid-
ed as a result Of the remodeling
which will cost $4,000. Modern Of
flee facilities will be incorporated
In the building.
The lower floor is occupied by
the Farmers Hardware Company.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-14

ferred to the 18th Cavalry. In July,
1920, Colonel winfree was promoted
to major in which grade he served
until May, 1927, when he was pro-
noted to lieutenant colonel, his
present rank.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-14
BULLETIN

(Flrst figures. lowest temperature
last night: second. highest yester-
day: third. wind velocity at 8 a.
m; fourth, precipitation in last "a
hours
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-14

Fifty members OF the Texas state
4fghway patrol Travelled $50. 507
: niles, or more than 80 times
around the world. during the last
six months.
The midland journal. (Rising Sun, Md.) 1885-1947, 1930-02-28
School Salaries Show Increase

The average salary for white ele-
mentary school teachers and princi-
pals in Maryland was 500 higher in
1929 than in 1928, according to the
State Board of Education. Last
years average salary was 81, 1874
This amount represents the result
of a series of gradual yearly increas-
es In salaries the last ten years, from
$521 in 1919. Accompanying this
increase in recompense, it was said,
has been an increased proportion of
teachers.
Average salaries in the counties in
1929 ranged from 1891 in St. Mary's
! to $1,518 in Baltimore county. One
lof the reasons advanced for 1.-THE
higher salaries in Baltimore county
was the fact that the classes in that
county are larger than in any other
county, of the State.
The average paid in Baltimore city
81, 1922, brings the average for the
State to 81, 1853. The average paid
lin Cecil county is 81, ITO.
In one-teacher schools the average
salary was $1.1O2; in two-teacher
schools, 81, 161, and in larger county
schools, 81, 222. The increase of $50
for one-teacher schools since last
year led in amount the increases of
$40 and $16 respectively for the two
teacher and larger institutions.
Most of the teachers with training
less than that received from two
year normal school course or
its equivalent were in one-teacher
schools. AS teachers with made
quate training have left the service.
their places have been taken by nor
mal-school graduates, thus increasing
the proportion paid higher salaries,
it was said.
Since it is difficult to attract or
hold normal-school graduates. in
the one and two-teacher schools, the
law requires that they be paid 500
more than they would receive teach
ing as an assistant in larger school.
The minimum State salary for a
normal school graduate is $3.50 for
the first three years of experience.
81, 1850 for the next three years.
81. 100 for the following three years.
bringing the maximum OF $1,15O|
after eight years of experience.
The midland journal. (Rising Sun, Md.) 1885-1947, 1930-02-28
Oyster Conservation
Bellevue, Md, Feb. II

Dear Editor: i notice in to-
days Sun that our Conserva-
ton Commissioner, Mr.. Earl,
has been to Virginia to tell
Gov. Pollard How to Conserve
Virginia Fish and Oysters.
| have always heard that
charity Should begin at home.
Why has ne not made con-
servation suggestions n d
fought for en- at home?
We have Gu our statute books
the Shepperd Act that nullifies
our only Oyster Conservation
and Cultivation plan, and l
have been appealing for Mr..
Earl's endorsement of it's re-
peal for probably 20 years
without success, until our oys-
ter supply has diminished until
he State is losing enough
money each year to build a ten
million dollar Bay bridge. For
probably the last ten years,
both of our prospective candi-
dates for Governor have been
in a position to have corrected
this disastrous waste.
These facts are worthy the