davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
HUGE AUTODEMAND.
seen WITHIN YEAR
Factors in Favor of Industry
Are Cited-Big Replace
ment Due.
ny ]. C. ROYLE.

The automobile industry within q
year Is going to be millions OF cars
short in meeting the demand. It Is
quite possible that the industry may
have to run q year nearly at 1ull
speed to I'LL replacement, even II
customer developed.
II has become known unoficially and
In advance of the report that recent
survey of the cars now registered shows
$500, 900 which have reached the stage
OF age and decrepitude where they have
neither sale nor insurance value.
The old cars are still running, but
they cannot run indefinitely. In the
first place, the dealers and manufac-
turers are following a definite program
of retiring these cars from service and
junking them. They have established
cooperative junking yards and unoer
ing company takes in the junked cars
at a valuation against purchase OF new
cars. The loss is stood jointly by dealer
and manufacturer.
In the second place, the State govern
ments have commenced to demand ex-
animation of the efficiency of the cars
on the roads in the interests of safety
and to guard the public from accidents
In the third place, some States are en-
forcing compulsory duIOIlOUnc hASuA
ance and under such enforcement the
worn-out, obsolete cars cannot operate
because they cannot get insurance.
While $4,000, 900 motor car customers
have been gained in the last Is years,
the number of automobile owners who
have ceased to own cars voluntarily Is
negligible.
There is every reason to believe that
when the worn out cars no longer VIII
run, they will be replaced by new We
hicles. That means the expenditure
Of at least $348, 600, 000-which is some
thing for the pessimists in the motor
industry to think about.
The country normally absorbs over
100000 cars year. In the past year
absorption has been less than so pei
cent Of that figure. Add to this deficit
the broken-down cars which will not
run another year and the future Of the
automobile industry appears brighter
than it has been for years. Improve
ment probably will not come until there
is a general revival Of business, but only
the confirmed pessimists who are sell
ing America short" refuse to believe that
this revival will come.
Copyright, 1900
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
BOYCOTT CHARGE IS FILED
AGAINST COMMISSION HOUSES

embarrass free trade in live stock In
any way.
Under the action taken by the Secre-
tary of Agriculture yesterday, referee
who is yet to be designated will hear
evidence at East st. Louis on November
8, where the dealers and the commits
sion men have been summoned to pre-
sent evidence in reputation OF COM
plants.
Two live stock co-opsratives-the Ma
tional Order Buying Co. and the Pro-
ducers' Live Stock Commission Co.
and an old-established firm, Kennett,
Sparks & Co., are those alleged to have
been boycotted.
The boycott Of which the department
complained after a preliminary investi-
CATION was described as instituted In
the belief that the two co-operatives
were working together to the disadvan-
lieved the Federal Farm Board was
backing the co-operatives.
Statement on Credit.
Kenneth, Sparks & Co. was placed In
the same category with the co-opera-
tives. 1t was explained, because 1t con-
tinued to do business with them.
C. B. Denman, live stock member OF
the Farm Board, said the Producers
LlVe SUOCk OOIllAiALSoAoh W. tt@0 49,
received any money through the Ma
tional Live Stock Co-operativeS and
added he believed no credit had been
extended to the National Order Buying
Co.
The money would be available to
them If they desired, and they could
arrange loans through the National
Live Stock Cooperative, he added
Chairman Legge said the Farm Board
could do nothing ofiicially to aid the
! co-operatives in this instance.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
WESTINGHOUSE ELECTRIC
EARNINGS SHOW DROP
~ the Aasoeiated Press.

NEW YORK, October 21-The West
inghouse Electric & Manufacturing Co.
has reported net earnings for the third
quarter Of 1880, after all deductions, Of
$2,995, 244, or Slip per share Of pre-
ferred and common stock.
The net income for the quarter rep
reSents q substantial drop from pre-
vious periods of this year and Of 1929,
which was the banner year in the COM
pany's history.
Orders received and sales billed also
suffered by comparison with previous
periods of 1880 and 1929. The COM
pany stated that orders received for
products other than radio, the manu-
facture Of which was transferred Janu-
airy !, 1880, to the Radio Corporation Of
America, represented a II per cent de-
crease from the third quarter of 1929,
but was per cent higher than the cor
responding period in 1928.
Net income for the third quarter OF
1929 amounted to $6,413, $3.50, or $40
a share, and the total for the June
quarter Of the current year was So
$40, 744, or $1.43 q share. For the nine
months net earnings totaled $11, 352,-
244, equal to $4.25 q share, against
$19,544,21l, or approximately $3.50, in
the hrst nine months Of 1929.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
CURB ISSUES DROP
/ IN PROFIT. TAKING
Early Gains Wiped Out as
Traders Sell Recent
Purchases.
BY JOHN A. CRoNE.
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, october 21.-Proflt-tak-
ing around midday erased most of the
early gains scored at the opening of the
New York Curb Exchange today.
Public utilities, on profit-taking by
traders who had purchased for q quick
turn last week end, and oil shares
which were sold as result Of the gain
in crude output and further oil price
reductions, formed the bulk Of trans
actions.
Electric Bond g. Share opened up "a
at san, but lowered around SO at the
noon hour. Cities Service started I'M
changed at 249s and later showed a
small fractional gain. This was quickly
the "a level. ,.
Commonwealth Edison opened OF 81
points. Gulf OH of Pennsylvania was
on only slightly on its first sale. Safety
Car Heating g. Lighting rose Il points.
Consolidated Gas Of Baltimore recov-
cred more than points.
This mixed trend in the higher priced
issues was not shared by international
securities, despite the strength of Lon
don and other overseas markets. BraZ-
ilian Traction 81 Light was down more
oAA0AA - POAAA0s WAAAOAA HAoO was Vi uC Vi
hydro-electric securities and others in
the group.
Brazilian fractions September net of
$2,381 $40 was down only S4O,745, while
nine months net of Sal 1853, 463 COM
pared with sal, O6e,56s in the same 1929
period.
Acquisition of Glendale Water Co. by
Community Water Service was greeted
with fractional decline in the latter
stock.
Standard Oil of Ohio common was
on q fraction to new low level. In
diana Pipe Line was up shade from
its low of ~. The natural gas stocks
were neither as active nor as weak as
in the preceding session. National Avn
alton warrants were the FIRST Of the air
issues to crash into new low ground.
Atlas Plywood reacted after its first
quarter earnings were reported at $70.-
600. or So cents a share, against 1885,
BAT, or S1.40 share In the same Pc
Rod of 1929. General Fireproof1ng was
up az. youngstown dispatches indi-
Gated the company is operating at IS
per cent capacity, and earning are ex-
ceeding dividend requirements.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
NEBRASKA WELLS
ARE BOON TO CROPS
Water Pumped From Shallow
Trenches Offsets Effect
of Drought.
Special Dispatch to The star.

Special D1Spntcn 70 Inc GtNIs
LINCOLN, Nebr., October 2l.-Pumr
irrigation has doubled crop production
in Central Nebraska sections whers
rainfall is uncertain and ditch irriga-
ton is limited by uneven terrain.
Once considered a risky experiment
irrigation by pumping now is regarded
as crop insurance.
More than 1890 acres in Buffalo
County alone are irrigated by this
method.
Each of 800 wells now in use is suf-
flcient to water IS acres in this section
where $1,000 acres of rich farm land
is underlaid by q coarse water-bearine
gravel
Wells sunk to depth of 10 to 20 feet
produce a ready supply Of water.
Production of corn, potatoes and
sugar beets has -doubled-even trebled-
under this type of irrigation. Potatoes
have yielded as high as 200 bushels an
acre, while unirrigated fields imme-
diately adjacent have produced only 30
bushels.
When an irrigation well Is sunk, 1t Is
located at the highest point available
with regard to fields to be served. From
this point a main ditch Is excavatec
along the highest field line, and from
this the laterals are dug.
Exclusive of power for operating, wells
for irrigation have been put into oper.
alton at an expenditure OF from $5o(
to $4,000. Many are pumped by tractor
power where electric current Is MOI
available.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
GRAIN MARKET

CHICAGO, october 81 Especially -
The wheat market was strong today on
buying influenced by the higher Liver
pool and Buenos Aires markets. De-
cember old opened 1884 to 80, new, 79h
to s0A, March, old, e3A to "a; new,
06N. After the frst half hour: De-
cember, old, 80; new, s012; March, old.
"a; new, 84A: May, old, 85ss; new, IS.
Corn was higher with wheat. Decem-
Der old opened 79A to 70; new, 70;
March, old, S1Ha to 81A; new, BIZ to
So; May, old, 84A to 841s; new, SzN.
After the first half hour; December, old,
811a; May, old, 841a; new, S42s.
Oats were firm. December old opened
373s; new, 371a; May, old and new,
40A to 40ss. After the first half hour:
December, old, 37ss to STU; new, 371z;
May, old, 40A: new 40ss.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
CREAMERY FIRM NET
EARNINGS INCREASE
Garry Ice Cream Profits Not Yet
Included in National Chains
Report.
Special Dispatch to The star.


CHICAGO, October 21.--IncreaSed
sales and earnings are reported by the
Beatrice Creamery Co. for the first six
months of the fiscal year despite lower
prices on all important products. Net
for the period ended August 81 amount
ed to $2,166,206 after all charges, in
Guiding depreciation and Federal taxes.
against $1,328,188 in the like 1929 Pc
Rod. This is equivalent to $500 a
share on the 298, 1858 shares of common
stock outstanding after deduction Of
preferred dividends and compares with
per share net of $5.48 In 1929 on the
1854 shares Of common stock then
outstanding.
Sales for the six months gained 80
per cent to $40,517,311, against $780,
390,245 in 1929, while net was So per
cent higher The operating profit for
the period amounted to 7.8 per cent Of
net sales, against So per cent in the
corresponding period last year.
Earnings of the three Eastern prop
critics acquired by Beatrice this year
Liberty Dairy Products Corporation of
Pittsburgh, Garry Ice Cream Co. of
Washington and Maryland Creamery
Co. of Baltimore-are not included In
the six-month report, as stock covering
these acquisitions was not issued until
after the close Of the semi-annual pc
Rod.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
Preferred Stocks
BY GEORGE T. HUGHES.
~y~.a~nR- - Vna~&MwSa


Cribs is the fifteenth Of . series q
studies in pr. preferred . ss9efs , P psadsrs.
Hus aasly i0T the tecSnica PROVISIONS Of
the stocks discussed and gives facts s aPous
The chief purpose Is to explain the ene-
Iytical process, certain securities ot high
grade being used for the inustrationO
The high market price and conse.
quent low yield of Norfolk q Western
preferred is explainahle both by its earn
ing power and by the fact that thu
senior stock has voting rights equal WIFI
that of the common. To take up the lat
ter point first, Pennsylvania Railroad has
Obviously II working control Is wanted
It is cheaper to buy the preferred stock
at $65 q share than 1t Is to buy the
common at $225 q share when the same
voting strength goes with the one a;
with the other. As q matter Of fact the
Pennsylvania on December 81 last was
the owner of $12,452, 900 Of Norfolk &
Western adjustment preferred out Of the
total outstanding amount Of this issue OF
$22 ,992, 800, or more than so per cent
Holdings of the common stock were
large, but not in so great proportion to
the amount outstanding.
Now as an investment rating, Norfolk
& Western has paid the regular 81 rate
on the preferred without interruption
for 80 years. In 1929 earnings available
for the "a dividend were equivalent to
$181.74 q share, or 1.8 times the paI
value. Back in 1920 the road operated
at q deficit, but every year since that
time there has been an increasing mar
gin of safety for this dividend until now
it is one Of the largest for any railroad
preferred stock. OF course, the Norfolk
a. Western has an extensive funded debt
and yet the interest on this funded debt
was earned last year more than nine
times over, while fixed charges and pre-
ferred dividends taken together were
covered more than seven times. Norfolk
q Western preferred Is non-cumulative,
q provision Of no Importance IN the case
Of a corporation with such large earn
ings, and 10 non-callable. The latter
feature leaves the stock free to respond
in market price to its high investment
rating. Selling around SIS a share, the
yield is All per cent, or only little
more than that Of the most conservative
bonds.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
PRICES FOR FARM
PRODUCTS STEADY
Only Moderate Changes Re-
ported Up to Middle
of Month.

Market changes were rather moderate
up to the middle Of october and later,
says the United States Department Of
Agriculture, Bureau Of Agricultural
Economics, market news service. There
we're advances as well as declines, and
the general price level Of farm products,
although still weak, did not fall quite TO
the September low. Grain, hay and
millfeeds went little lower than early
in the month. Live stock showed some
price gains, especially in hogs and
lambs. Dairy products did not change
much In consuming markets, Poultry
prices declined steadily with the usual
Increase in supply at this time Of year.
Eggs dropped q little early n october.
Gains and losses were about equal in
the fruit and vegetable lines. The
potato and onion markets were better
sustained, but price trend OF CABBAGE
and sweet potatoes continued down
ward. The new crop season has begun
on Florida vegetables.
Potato Prices Hold.
The general tone Of the potato mar
ket has been q little stronger since the
middle Of the month. Most Western
shipping districts seem to be on the
u,
lighter than they were few weeks ago.
running now about 1000 cars per week
day.
Most kinds Of Eastern sweet potatoes
declined slightly the middle OF the
month. Virginia barrels were Jobping
at 50 to S375; Maryland and Delaware
bushel hampers sold at so cents 20
S1.IO. Virginia shipments decreased 20
about so cars daily. ..
Cabbage prices held nrnly 81 Wess.
ern New York shipping points, but were
= little lower In South Wisconsin and
Northern Colorado. The Western rev
York markets on yellow onions is aoous
steady at 90 cents to 95 cents per 1Vv
pounds, but 50-pound sacks tend upward
In price.
Apple Shipments Increase.
Carlot shipments of apples were In.
creasing in Mid-october, but are a ncs
vet up TO last years corresponding ng"
ilres. Cold storage holdings are above
| the five-year average for october. West
ern New York apple prices are mostly
within q range Of $1.10 to $l.35 per
| bushel at shipping point, and Ben DAVIS
In barrels for export bring $685. TO -.
Barrels of different varieties IN the Po-
tomac Valley area are bringing mostly
| So to S., according to variety ana size.
OIADG aAC 0CNACooA@0
the season riears its end in the East.
California shipments also are lighter.
Central New York price level on grapes
advanced, and California points were
stronger on table stock, but steady on
Juice fruits. City markets were rather
unsettled In Mid-October.
Poultry Supply Liberal.
The poultry markets are amply sup
piled as season approaches height. Prices
have tended slightly downward during
the first three weeks Of October. fowls
were less in demand compared with
flyers and roasting chickens, and prices
of dressed stock inclined downward near
the middle Of the month for the small
to medium sizes A small amount Of
speculative buying on fancy packs was
not enough to give the market mucn
support. Buying for cold storage has
been delayed this season, and holdings
were only about one-third those OF Oc-
tober, 1929.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21

S1.10 q share on 3T4,e91 shares Of M.
si;o7 . share on 337 500 shares in the
third quarter last year.
The Cream Of Wheat Corporation re-
ported for the three months ended Sep
TENDER 80, net profit Of 1891 ,T2o, equal
to So cents a share, against $4lo,33z,
or SO cents a share, in the correspond
ing period last year.
The Commonwealth Edison Co. earned
In the September quarter net Of $685.
2eS, against &2,56I .b73 In the third quar-
ter last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
NEW YORK COTTON

NEW YORK, october 81 (SpeciaD -
Opening cotton prices today were TO
points higher. There was substantial
volume Of trade and overseas purchas-
ing In near months. Southern houses
were still on the selling side.
Opening prices were October, new,
1923, up 8; December. old, 1880, up
8; December, new, 1913, up s; Janu-
airy, old, 1851, up 6; January, new
1851, up 6; March, 10.S5, UP 6; May,
lilo, UP Q, and July, 11.27, up 8.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
EARNINGS REPORTED.

NEW YORK, october n P).-dranby
Consolidated Mining Co. today reported
September quarter profit Of $172O1T
before depreciation, depletion and Fed
eral taxes, against $4l6,099 IN the pre-
ceding quarter and 91,07l, sos in the
third quarter last year.
Telautograph Corporation had third
quarter net OF soc, 682, against 1881
In the like quarter Of 1929.
Chicago Pneumatic Tool reported
September quarter net Of $50, 76l,
against Ss4S, sos In the September quar-.
ter last year.
Trico PRODUCTS Corporation has third
tnaIteg net pcOnA 90 n4ll. 224, eQuna d
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
NEW SECURITIES

NEW YORK, October II OD.-New
securities offered today include:
City Of Phoenix. Ariz., &3,422, 900 ~
per cent municipal improvement bonds,
due serially July 2, 1s35-19eo, at prices
to yield from 40 to $50 per cent, by
a syndicate headed by the National
City Co.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
PARIS RouRSE PRICES.

PARIS, october Il (R.-Prices were
firm on the Bourse today; per cent
rentes, 81 francs rs centimes; per cent
loan, 1Oi francs 80 confines; exchange
on London, l23 francs 647z centimes.
The dollar was quoted ct % francs 471z
confines.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
CHESAPEAKE & OHIO.

NEW YORK, October 81 (P1.-The
Chesapeake q Ohio Railroad for the
first nine months this year had net
income Of $2S,074, $50, equal TO 1927 q
share on the common stock, against
sac. AT, 005, or 43.46 . share, in the cor
responding period last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
CURTIS PUBLISHING co.

NEW YORK, october 81 OP.-The
Curtis Publishing Co. for the Septem-
her quarter reported net profit Of
$3.936,141, equal to $1.31 a share on
the common stock, compared with
-. 6S2 ,S82, or $1.73 q share, In the like
quarter last year,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21

You take of your hat when you enter
house because the knight Of old dofIed
his helmet--the most vital part Of his
sarmor-when he arrived to show that
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21

Infantile paralysis seems to be most
prevalent in July, August and Septem-
Der, says the Iowa State Department
Of Health.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
NEW YORK CURB MARKET

Note-An stocks are sold in one hundred share lots
excepting those designated by the letter (e0s) i250
which shows those stocks to be sold in odd lots only
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21

Received BY Private Wire
Direct to The Star Office
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
NEW YORK BANK STOCKS

NEW YORK, October 81 CPl--Over~
the-counter market:
Bank Stocks,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
FOREIGN EXCHANGE.
TREAsURY CERTIFICATES.

CReported by J. & w. Selisman 81 Co
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-21
BONDS.
10
In0ugkPia

! 4 tcODyrisht. 1850. STANDARD statistics c0y
Evening star., 1930-12-12

ployed veterans and that an average
cash payment of $3.50 would be helpful.
In addition, he said, the placing in
immediate circulation of between $780,
100000 and $70o, 100000 would tend to
stimulate business.
IS Per Cent Would Remain.
His plan, Fish said, would leave rs
per cent of the policies for insurance
of the wives and children.
Meanwhile the petition of Repre-
sentative Patman, Democrat, Texas, to
get consideration of his bill for pay
ment in full of the certificates had
accumulated about so signatures. A
majority of the 435 members is re-
quired to take the $4,000, ,000, 900 meas
ure out of the Ways and Means Com
mittee and bring it before the House.
Evening star., 1930-12-12

lon has opposed payment of the GER
tificates in full as of doubtful benefit
to veterans.
Would not your objections be COM
piled with by the payment, in cash or
negotiable Government bonds with 8
per cent interest, of one-fourth of the
face value of the certificates without
deductions for loans already made
which would continue to constitute a
debt against the remaining amount of
the service certificates" Fish wrote.
Reserve Fund Ample.
The New Yorker asked If the Treasury
would not have a reserve fund of S75O
100000 on January l, to retire the GER
tificates, which, he said was an "ample"
amount to pay one-fourth the face
value.
Fish said he believed there were
hardship and suffering among unem-
Evening star., 1930-12-12
.CO-EDS CAUGHT PETTING
TO BE GIVEN PUBLICITY
Head of Ferris Institute in Michi-
gan Says Names will Be
Announced,
BY the Associated Press.

BY the Associated Press.
BIG RAPIDS, Mich, December H.
The wages of being caught "necking"
at Ferris Institute here is to be pitiless
publicity.
President Wells D. White announced
yesterday that the names of all co-eds
caught in 'petting postures" with boys
hereafter will be announced at public
assemblies.
Evening star., 1930-12-12
FISH FOR PART PAYMENT.

Representative Urges Immediate Veter-
ans Relief.
Representative Fish of New York, in
letter to Secretary of the Treasury
Mellon, urges immediate cash payments
to World War veterans of one-fourth
the face value of their compensation
certificates.
Fish estimated one-fourth the value
of the certificates at $500, ,00O, 900. Mel
Evening star., 1930-12-12

for the Government to issue bonds to
raise the amount. Mr.. Mellon says: st
am very definitely of the opinion that
the United States Government cannot
successfully sell three and a half bill
lion dollars of bonds for this purpose
at this time"
(Copyright. 1e30)
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-09-23
Sunday Movie War
Held Up by Writ

ABILENE, Sept. 22-tR-Con-
tinuing a six weeks campaign
against Sunday moving pictures.
the Abilene city officials we're
frustrated in an attempt to paddock
a theater yesterday.
Efforts Of city officials to close
the theatre were stopped by a
temporary writ Of injunction
granted by District Judge w. r.
Chapman an hour befort the thea
ire was 10 open It's doors TO patrons.
A resolution empowering the
police. with as many deputized
citizens as may be needed" 70
paddock the show was passed by
the city commission In executive
session last Friday. Attorneys for
the theatre heard o fthe proposed
action and sought the Injunction.
A hearing on the injunction will
be held next Saturday.