davidaulloa/AmericanStories huggingface dataset:
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-11-25
DAILY SELLING ON
MILWAUKEE STANDS

Charles Gheen, Red Army COM
mander Milwaukee, writes:
Our unit took up the question OF
the Daily Worker last week. I said
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-11-25
Southern Offensive in the
10000 Circulation Drive
Starts; Units on the Job

The Southern offensive in the Daily Worker
has started Word from the district
that plans have been laid for building
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-11-25

Each Wednesday in the Daily
Worker the full story of circulation
is told in hard figures.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-11-25

Don't miss full circula'
ton tables each Wednes-
day in the Daily Worker.
The Washington times., 1930-11-24
Commission to Seek Rule
On Holding Companies

eSts constitute the outstanding ex-
a!lples Of railroad holding com.
panieS frowned' upon as was evi-
dent from particular mention of
them by the commission in the
holding company discussion in its
last annual report.
Anticipated suggestions Of the
commission likely will be in line
with and supported by conclusions
and recommendations of the pros
pective report of House committee
on its holding company investl-
CATION as affecting railroads
To Maintain Competition
The chief objective is to assure
maintenance of competition be-
tween railroads which such hold
ingS, 1t is feared, may eliminate.
Regulation Of securities issued by
holding companies may be in
cluded.
The nature of legislation is i'm
possible of definite description
now. Because of constitutional
objection against legislation at
tempting to regulate railroad hold.
irg companies, Congress will pro-
ceed cautiously. Legislation at
tempting to afford some sem
blance Of public regulation over
certain aspects of railroad hold.
ing companies appears certain OF
enactment ultimately, though.
The Washington times., 1930-11-24
BROKERS ADVISE
.PROF|T-TAK|NG

While the chances for q con-
tinuation of the current rally
were believed favorable the ad-
visibility of taking profits was
stressed in brokerage circles to-
day.
Tighten commitments on any
further advance.-HORNBLOW-
Err g. WEEKS.
Believe the advance should con
tinue.-BAAR, COHEN & co.
We are becoming somewhat
more cautious.-OTIS & CO.
The major trend for the present
should be upward.-TOBEY &
KIRK.
New commitments at this stage
of the rally are inadvisable.-E. F.
HUTTON & CO.
Would close out commitments
en- any rally.-EMANUEL & co.
Prospects are favorable for the
continuation of the current rally.
H. HENTZ g. CO.
Present upward movement will
continue substantially further
PASK & WALBRIDGE.
Excessive optimism is unwar-
ranted at this time.-JOHN MUIR
g. co.
Reduce trading positions and
hold funds liquid for reaction
which appears overdue.-JOHN
MELADY & CO.
The Washington times., 1930-11-24
nancinZ Market Neu Stocks Bonds Commodities and Comment
Greater New York
Leads Nation In
Manufacturing

The United States produces
83 per cent of its industrial
wealth, valued annually at ap-
proximately 81 billions of dol
ars, in 345 counties Clustered to
form the nations industrial cen
ters. This fact Is revealed by
the Domestic Marketing Prob
lens Committee of the National
Industrial Advertisers ASsocia-
ton in a nationwide markets
survey. The survey showed that
81 counties, each producing
manufactured goods valued at
$500,000, 900 or more annually,
turn out products valued at
$25,274,730,432, OF 80 per cent
of the country's total produc-
ton.
Cook county in Illinois, which
includes Chicago, shows the
greatest output of manufactured
goods of any similar geogrephi-
cal division in the United
States. It's products are valued
annually at $3,844,401,346. The
next county in line is New
York county, within the bounda-
ries Of which is Manhattan
Island. That county's produc-
ton of manufactured goods is
valued annually at $3.S13,495,-
044.
Greater New York is shown
to be the nations greatest
manufacturing municipality.
The Washington times., 1930-11-24
Republic Chief
Sees EGrLv Turn

Firmer prices for steel and the
beginning of recovery of opera
tions in the industry early in 1881
were forecast by B. F. FairlesS,
first vice president Of the Repub-
lie Steel Corporation, in an ad-
dress before Warren. Ohio, busi-
ness men today. There are many
signs that the start OF a buying
movement in steel is not far dis
tant, he declared.
"The production of steel in
November has dropped to an
annual rate about IS per cent
under the average production OF
the last five years." said Mr..
Fairless. "The cOuntry's use Of
steel has not declined SO heavily
and correction Of this wholly
abnormal situation is not likely
to be much longer delayed"
The Washington times., 1930-11-24
SUSPENDS.
BROKER

Aaron w. Berson has been sus-
pended from membership in the
New York Curb Exchange which
issued the following statement:
Information has come to the
president that Aaron w. BersOn
has been adjudicated a bank
rupt by the District Court of
the United States Southern Dis
trict Of New York and is there
fore insolvent-accordingly said
Aaron w. BerSon is suspended
from regular membership"
On October II Victor E. Ora
ham OF Lawrence, L. l., filed a
petition in bankruptcy against
Berson which stated:
THAT according to infOrma-
ton and belief BerSOn alb
seconded for parts unknown on
or about July g."
Berson formerly had his office
at the Samuel Ungerlieder & Co.,
but at the offices Of the latter
firm it was said that he had not
been there since July.
The Washington times., 1930-11-24
ELECTRIC HEAT
GROWTH SEEN

Electric heat in manufacturing
has made such rapid strides that
the value of the energy used in
this industry. will exceed the an.
nual sales of the Standard Oil
Co.. of New Jersey and the Gen
eral Motors Corp, the two larg-
est companies, with sales last
year exceeding over one and one
half billion dollars, H. c. BoSt-
wick, engineer of the Westing-
house Electric and Manufacture
ing Co., told representatives from
manufacturers in the metropol.
itan district at special meeting
held at the Westinghouse Light
ing Institute, Grand Central
Palace Building.
Mr.. Bostwick pointed out that
although patents for heating by
passing an electric. current
through a wire or resistor were
1SSuSO dDOUU G11C Sdl11C G1111C hI
Thomas Edison demonstrated the
first successful electric light, for
years electric heating remained
in more or less an experimental
stage.
During the past Is years,
however" said Mr.. BOtSwick,
this industry has grown until
today approximately 100000
kiIOwatts of industrial electric
heating furnaces and equip
ment are installed in this cOun-
try. The reason for this re-
cent growth is that electric
heating pays large dividends to
its users in the form of inn
proved quality of product and
reduced manufacturing cost.
"The electric light and power
companies beginning to realize
the possibilities of electric heat
and many of them have es-
tablished separate departments
to cooperate with their Gus
toners in determining where
economies can be affected by
installing electric furnaces"
The Washington times., 1930-11-24
Int. Harvester Go.
Dividend Is Safe

Earnings sufficiently in excess
Of the present dividend rate to
warrant the continuation of such
payments are anticipated by di.
rectorS of the International Har.
veSter Co., for 1881. Following the
directors meeting at which the
regular quarterly payment of S2la
cents a share was declared, G. A.
Ranney, vice-president and treas
urer. in behalf of the directors,
made the following statement:
"The estimate of earnings for
1880, while lower than the pre-
ceding year, indicates a sub.
stantial margin over the COM
mon dividend requirements, and
the estimate for next years bust
ness indicates that while trade
will be somewhat restricted, the
dividends on the common stock
will be more than earned. The
directors therefore feel war.
ranted in continuing the present
dividend and announce that
dividends on the common stock
at the present rate will be paid
throughout 1881,
The Washington times., 1930-11-24

Definite recommendation by the
Interstate Commerce Commission
that Congress enact legislation
providing for regulation Of rail-
road holding companies is antici-
pated here. ,n :.
Such a recommendation is
looked for in local railroad circles
as the next and logical step fol
lowing the commissions action In
its last annual report to Congress,
when it urged that consideration
be given possible legislation in
this regard.
The commission view, as ana
lyzed here, is that proposed regu-
lation should apply both to rail
road-owned holding companies and
conversely to holding companies
whose portfolios include railroad
stocks in an amount which may
or carries control of a railroad
operating in interstate commerce.
Allegheny, PennrOad Cited
Commissioner Eastman has
stated that investment trusts and
trading companies invest in many
securities and expressed doubt
that their holdings are Of signifi-
canoe from the standpoint OF rail-
road control.
Allegheny Corp, of the Van
Sweringens and Pennroad Corp. OF
the Pennsylvania Railroad inter
The Washington times., 1930-11-24
TOBACCOS SELL
z TIMES NET

Conservative estimates are that
American Tobacco Company this
year will show earnings applicable
to the common stock Of about
$40, 900, 900; Reynolds should show
about $36,000,000, and Liggett
and Myers should have a balance
for the common and common B
shares of not less than SOS, ,00O,-
600, a total Of $10h000, 900 for the
three companies.
Combined common and COM
mon B shares of American To
bacco Company were selling for
a total market value of $685.
676,386. Reynolds Tobacco COM
mon and common B shares on
that date had market value of
$478, ,375,000, and Liggett and
Myers common shares $266,913,-
024. Thus the total value of the
junior shares of these companies
was $1,248,964,41O, or 1873 times
estimated combined 1880 earnings.
Earned $79,66S,283
These same companies in 1929
earned for their common and
common B shares a total of &c.,
668, ,283. OF this, American To-
cabbo earned $27,016.622, Rey-
nolds $32,210,521 and Liggett and
Meyers $2O,441,140. On November
20, 1929, Reynolds Tobacco COM
mon and common B shares had a
market value of $493, SOC, 900;
American Tobacco, $471, ,778, 800
and Liggett and Myers $241, $685.
752 or a total of $1,216,650,672.
This was 15.2 times actual 1929
earnings.
Shares Lower
Individually shares of the three
companies here considered wei
selling on November 20 this year
at fewer times estimated earnings
than they were a year ago. At
the price of 108 for the common
B stock, American Tobacco was
only 1927 times estimated $3.50 a
share earnings for this year.
Both Reynolds and Liggett and
Myers common B shares on No.
vember 20, this year, were also
selling on a lower price earnings
ratio than they were a year ago,
when the decline in the stock
market had reached it's end for
1929. Reynolds sold at 44B on
November 20, last, 12.4 times es.
timated earnings. A year ago it
sold for 14.4 times actual earn
inpS
The Washington times., 1930-11-24
HOPEFUL TRADE
SIGNS NOTED
BYR. {. DUN
Review Sees Outlook Brighter,
With Indications Of Wide.
spread UpIift Of Business

The hopeful indications in the
business situation have attained
somewhat more prominence, al
though there obviously remains a
sharp distinction between scat
tered betterment and widespread
uplift, r. G. Dun & Co. will say
tomorrow in its weekly review Of
trade conditions.
It is moderately encouraging,
however, that sentiment has made
some gains, largely in response to
improved financial markets, and
the adjustments which are being
counted upon to establish an ef-
fective basis for ultimate CONNER
cial recovery are proceeding
steadily. Reiteration of the latter
fact is important, because there
now is a clearer and more gen.
eral appreciation of the necessity
of a thorough transition to new
conditions.
WuCA IACCOhApAASACU
Much already has been accom-
plished in the direction of essen
tial economic changes, and the
beneficial results should show
more plainly with the further
passing of time.
The disquieting element Of
commodity price unsettlement un-
fortunately continues, the excess
of declines in wholesale quota
tions still being pronounced, and
correction of this phase would
do much toward promoting the
hoped-for revival. Without def
mite evidences of stability in
many markets, buyers not un-
naturally are prompted to defer
commitments as far as is possible,
and pressure TO sell necessarily
weakens the price structure.
Business Unchanged
There are, on the other hand,
signs Of firmer status in at least
some channels, and efforts to
check the prolonged recession in
prices for steel products appar-
emily are making headway.
Not much alteration in the posi-
ton of general business during
the balance Of this year is expect
ed. but the closer alignment Of
output with consumption. the re-
duction in inventories in many
Instances, the unusual ease Of
money rates and the knowledge
that numerous weak points have
been eliminated are among the
| reassuring aspects.
The Washington times., 1930-11-24
Building AWdrds In
N. Y. LOner in NOU.

Contracts for new construction
of all types awarded in the met
ropolitan area of New York dur
ing the week from November 8
through November ID totaled 22,-
266. 400, F. w. Dodge Corporation
reported today. This brought the
November total to date to $32,-
50,400 which was at the rate of
S2.914.000 per business day. In
October the daily rate of con-
tract letting was $3,079,0 900 while
in November, 1929, the rate was
$6,036,O00 per business day.
Contracts for the last week
showed $11.561, 700 for residential
building, $6,842, 900 for public
works and utilities, and $3,862, 100
for non-residential building.
For the year to date construc-
ton undertaken in the metropoli-
tan area totaled 1851 ,749, 800 as
against -1,O27, 1896. 100 for the cor
responding period ended Novem-
ber IS, 1929.
The Washington times., 1930-11-24
STONE WEBSTER
|. NET FOR YEAR
S4.17 SHARE
Twelve Month Report Shows
Securities Sales Profits
of $794,S44 Since 1929

STONE AND WEBSTER, INC.
Twelve months ended Septem-
Der 80: Consolidated net earn
ings, $6,201,714, or 1910 a share
on 1,677,742 common shares out
standing during the period. In
addition to these earnings, a
profit of $794,844 was realized
from the sale of securities of the
predecessor company and carried
direct to the surplus, making a
total of $6,996,558, or SALT a
share. No comparison for the
preceding year can be made, for
the company was organized in
June, 1929.
UTAH POWER AND LIGHT
Twelve months ended September
30: Net profit, before deprecia-
ton, $3,848, ,689, against $4,040, 1862
in the preceding IL months.
PENNSYLVANIA POWER AND
LIGHT OMPAN Y-Twelve
months ended September 30: Net
profit, before depreciation, $10,-
1858, against $9,960,855 in the
preceding IL months.
CONSUMERS POWER CO.
Net for October 81 ,490,633 against
$1.407,232 in october, 1929.
Twelve months ended October 81,
net after preferred dividends and
depreciation, $8,089,751 compared
with $8.042,266 in corresponding
1929 period.
GEORGIA POWER-Net earn
ings for October $1.125,319
against $1,O32,042 in october,
1929. Twelve months ended Oc-
tober 81, net income after pre-
ferred dividends and depreciation
of $1,675,586 compared with 81
1905 in like 1929 period.
ALABAMA POWER - October
net earnings, $982,961, against
1891, ,553 in october, 1929. Net in
come for twelve months ended
october 81, after preferred div
idends and depreciation, was So
sos, 1923, compared with $4.327, ,591
in corresponding 1929 period.
TENNESSEE ELECTRIC PWR.
Net earnings for October, $518,-
535. against $591 asa in October,
1929. Twelve months ended Oc-
tober 81, net income, after pre-
ferred dividends and depreciation,
was $2,454,837, compared with
So, ,389 $50 in like 1929 period.
The Washington times., 1930-11-24
Chilean Nitrate
Exports Decline

Chilean nitrate exports during
the first nine months of 1880
amounted to 1,900.506 metric
tons, as compared with 2,159,586
tons in the nine months of 1929
and 1,888,555 tons in the CORE
spending period of 1928. Com
merce Department is advised by
reports from Chile exports from
Chile to the United States in the
first nine months amounted to
461,915 tons, as compared with
1913, ,1O8 tons in the first nine
months of 1929.
Production of Chilean nitrate
during the 1880 period amounted
to 1,968,684 tons, as compared
with 2,416.939 tons in the nine
months of 1929.
The Washington times., 1930-11-24
SIS, 100000 in Bills
Sold by HUNGARY

The Royal Hungarian Govern
ment has sold about $4,000, 900
one-year treasury bills to leading
bankers here and abroad.
Speyer and Company, and The
National City Company, heading
a group which includes the Con
tinental Illinois Company, Ban
camerica Blair Corporation, In.
ternational Manhattan Company,
Inc, First National Old Colony
Corporation, and j. Henry Schro-
der Banking Corporation, have
taken $5,000,000 Kingdom of
Hungary one-year dollar treasury
bills due November Il, 1881.
These dollar treasury bills will
be placed privately, at 5A per
cent discount.
The Washington times., 1930-11-24
Edison Firm Budget
S28.OOO.OOO for 1881

R. H. Ballard, president of the
Southern California Edison Co.,
today announced that the budget
for construction in 1881 was in
excess of $28,0O0,000, compared
with $23, 100000 this year and
S29 $3.50, 900 in 1929. A gain of
between 7 and 10 per cent in
electric production was looked for
next year, he said.
One of the largest items in the
budget is the installation of an
other giant turbine at a cost Of
$8,620,000. A new administration
building will cost $1,295, 900.
The Washington times., 1930-11-24
Hammond Clock Co.
Gets Canada Plant

CHICAGO, Nov. 22.-Establish-
ment of a Canadian plant and
dealer outlets throughout the Do
minion of Canada has been ef-
fected by the Hammond Clock
Company, F. H. Redmond, gen
eral manager, announced today.
Working arrangements have
been completed under which De
Forest Crosley Radio Co.. Ltd, has
formed a subsidiary, Hammond
Company of Canada, Ltd, to
manufacture and distribute elec-
trio clocks under the Hammond
patents.
The Washington times., 1930-11-24
D. C.-N. Y. Plane
Rates in Drastic Cut

Reduction of rates on the New
York, Philadelphia and Washing
ton Airway Corporation, effective
Monday, will bring the cost Of
rund trip passage by air between
Washington and New York below
the rail plus Pullman rates, &C
cording to Miss Amelia Earhart,
vice president of the company.
Announcement of the lowered
rates was made by C. T. Luding-
ton following a meeting of the
lines directors. The line has been
operating at 95 per cent capacity
since it's inception. The new rates
are asserted to be lower than
those offered for similar distances
on European subsidized lines.
The Washington times., 1930-11-24
S15,OOO,OOO in Notes
Sold by Hungary

The Royal Hungarian Govern
ment has sold about SIS, 100000
one-year treasury bills to leading
bankers here and abroad. Speyer
& Co. and the National City Com
pany head a group which has
taken $5,000,000 Kingdom of Hun
gary one-year dollar treasury bills
due November 81, 1881.
There dollar treasury bills will
be placed privately, at 524 per
cent discount. Of the balance
equivalent t. about $10,300,00O &,
G1,000,000 sterling bills have been
taken in London: G250,000 by
Banca Commerciale It a liza n a,
100000 in Holland; and $4,000
in Sweden and Swiss francs H.
100000 bills in Switzerland by
Credit Suisse.
The Washington times., 1930-11-24
Wall Street
Hears:

That the Burlington (Q) di-
rectOrs will declare a SIS extra
dividend when they meet early
next month.
That Chesapeake and Ohio
(CO) is being bought on the
scale in anticipation of an in
crease in the dividend to So
early next year.
That there is a considerable
short interest in American Tele-
phone IT..
That International Cement
(ICM) will net slightly better
than $3.50 a share this year.
That Chicago, Great Western
(GW), preferred is an attrac-
tive long pull purchase.
The Washington times., 1930-11-24
Tobacco Firm Has
October Gains

Sales of Lucky Strike cigarettes
by American Tobacco Company
increased 504, 4,725, 900 in October
over the same month of last
year. In September the increase
in the sales of this brand was
655, ,429 900. The August gain
was 438,000,00O.
The increase in sales in Octo-
Der brought the increase for the
first 10 months of 1880 to
5,147,536, 900,
The Washington times., 1930-11-24
Local Stocks

Furnished by w. B. Htbbs & Coz
Barber and Ross, 612S, $4,000
@87.
Capital Traction Company, SO
1874; 10@48A.
Potomac Electric, 51as, pfd.,
10@107; 10@107.
Prince George Bank and Trust
Company, 10@30.
Peoples Drug Stores, pfd., 10
@991s.
AFTER CALL
Washington Gas, IS, A, $500
@102A.
Potomac Electric, 512s, pfd., 10
@107A; 50A1073s.
UNLISTED DEPARTMENT
Raleigh Hotel Company, 100
At; 10@47.
The Washington times., 1930-11-24
Peru Accepts Terms
Of CerrO de P1ScO

The minister of government of
Peru has agreed to the require
ment of the general manager of
the Cerro de Pasco mines, which
the latter considered as necessary
preliminary to resuming work,
Ambassador Dearing has advised
State Department. Government
commission is to be formed rep
reSenting the Bureau of Labor
and the company and workers
will be represented by experts
and experienced engineers.
The Washington times., 1930-11-24
Nickel Plate Assets
Up to S329,478,I55

New York, Chicago & st. Louis
railroad (Nickel Plate) statement
as of September 80 shows total
assets of 29,478,153, against
$267, ,963,599 on September 80.
1929. and net profit and loss
surplus of $44,430.170, against
$37 ,664,730 in September of last
year.
The Washington times., 1930-11-24
MARKET RISE
To CONTINUE,
IS BELIEF
Thanksgiving Holiday to Slow
Down Any Big Operations
Until NextWeek, Says Expert
By THE SPECTATOR

The market enters a new
week with a pretty good back
bone. Saturdays selling, a
natural Development consid-
ering the practically uninter.
rupted advance of nearly two
weeks, doesn't change the
picture any.
Stocks will probably hit a
little more selling today and
should then work higher. The
Thanksgiving holiday Thurs
day, however, will probably
hold down any big operations
in either direction.