davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-01
ODonnell-Lee Wedding
An Event of Yesterday

The marriage of Mrs. Lille Roose-
welt Lee, daughter of Mrs. Roosevelt
and the late Robert 3. Roosevelt, to
Mr.. Hugh r. O'Donnell, son of Mrs.
o'Donnell Of washington and the late
John G. o,Donner Of Baltimore, took
place yesterday afternoon at o'clock,
in the home Of the brides mother.
Only the two families and intimate
friends witnessed the ceremony, per-
formed by the Rev. James Shera Mont
gomery, and attended the reception
which followed.
The bride was given In marriage by
Col Roland Fortescue, and wore a
French gown Of pale green chiffon fash
toned on the new long lines. Her hat
was of green Grim, and she had on &C
cessories to match her gown and car
ried gardenias and lilies of the valley.
Mr.. Charles Carroll O'Donnell, brother
Of the bridegroom, was the best man.
Mr.. and Mrs. O'Donnell left after the
ceremony for the Lilacs, Summer home
of Mrs. Roosevelt, on Long Island. They
will later go to the North Shore, and
in the Autumn will take up their resi-
dence in New York.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-01
Mrs. Fechet Will Give
Luncheon on Tuesday
In Honor of Visitor
Function Listed to Compli-
ment Her Sister-Many
in Official Circles Feature
Season With Charming
Entertainments.

Mrs. Fechet, wife of Maj Gen. James
z. Fechet, will entertain at luncheon
Tuesday in compliment to her sister,
Mrs. George Harris Smith, who will ar
rive that day from her home in Salt
Lake City. Mrs. Smith viii remain with
Gen. and Mrs. Fechet until the middle
of June.
Representative and Mrs. w. r. Coyle
entertained at dinner Tuesday evening
at the Hay-Adams House, having as
their guests Representative Florence P.
Kahn, Representative Edith Nourse
Rogers, Representative George p. OAR
row, Rear Admiral Archibald L. Hop
kins, Capt and Mrs. Allen Buchanan,
Capt. and Mrs. William p. Roberts, Mr..
Continued on Page 2. Column So
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-01
Postmaster General and
Mrs. Brown on Motor Trip
Leave City Thursday for Week End-O@cial
Washington Is Largely Represented at
Pleasure Resorts-Personal Notes.

will leave today to attend June week at
the Naval Academy at Annapolis, Md.
The chief Of naval operations, Admiral
Charles F. Hughes and Mrs. Hughes will
start tomorrow for a fortnight's motor
trip through the north. Admiral and
Mrs. Hughes have had as their guests
their son-in-law and daughter, Capt.
Otto Nimitz, u. s. NJ, and Mrs. Nimitz,
who will go tomorrow to Annapolis,
where Capt. Nimitz is transferred for
duty.
The First Assistant Secretary Of the
Interior, Mr.. Joseph M. Dixon, will leave
today for North Carolina where he will
visit Guilford College. He will join
Mrs. Dixon in their apartment at the
Wardman Park Hotel the first Of the
week.
The Assistant Secretary Of State and
CONTINUED on Page Z. Column 81
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-01

country place IA the mountains Of
CzechoSloVakia.
The Minister Of Greece and Nine.
Sirnopoulos, who spent a feew days in
New York last week, returned to Wash
ington yesterday.
The Minister of Norway, Mr.. Harvard
H. Bachke, will return tomorrow from
New York, where he went with Nine.
Bachke, who sailed yesterday for France.
lister will join her later in their home
in Norway after she has had q visit
with their son in Paris.
The Minister Of the Irish Free State,
CONTINUED on Page 8, Column So
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-01
DR.. and Mrs. ]. A. Lyon Hosts
Today at Garden Party

DR.. and Mrs. James Alexander Lyon
will entertain at a garden party this
afternoon 1t their home, Glenview
Farms, Rockville, Md. Assisting Mrs.
Lyon will be Mrs. TaSker Oddie, Mrs.
Karl D. Klemnl, Mrs. r. M. Kaufman,
Mrs. John Russell Kennedy, Mrs. Ken
meth Caldwell, Mrs. Chester Wells. Mrs.
Edmund Morgan, Mrs. Sidney F. Talia-
ferro, Mrs. Anne Archbold, Mrs. John
Foote, Mrs. Percy Foote, Mr.. j. Whitla
Stinson, Mrs. Harry Meem, Mrs. VIII
liam Chandler, jr.: Mrs. Edwin DENLY.
Mrs. Edward Everett Robbins, Mrs.
Henry Rowland, Mrs. Marion Wigmore,
Mrs. Harry CooteS and Miss Kate
Weaver.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-01
Maj. Gen. and Mrs. Conner
Give Closing Reception

Maj. Gen. william D. Conner, COM
mandant Of the Army War College, and
Mrs. Conner will be at home this af-
ternoon In their quarters ut the Wash,
ington Barracks from 70 $50 O'Clock,
receiving for the last time this season.
The Washington times., 1930-06-14
SLIP OFF
IN QUIET
MARKET
International Telephone Goes
to New Low As German
Issue Leads Ira ding

Bond prices eased off to lower
levels in generally quiet activity
today, with the continued reac-
tionary tone Of the stock market
resulting in conspicuous weakness
in many of the convertible issues.
international Telephone and
Telegraph 41as broke through to
new low ground at ia, off W
point from its previous close,
while American Telephone and
Telegraph AIS were also adverse
ly affected by the weakness in
the common stock and sustained
q ! point loss at 1877.
The German Government In
ternational 512s we're still the cen.
ter Of active turnover, although q
slightly lower price level was
reached at 901s of 3s from yes
terday's final sale.
Liberties ruled steady with 312s
quoted at 11O.28, 414s at 1O2.2O,
and Treasury 33ss of AT at 1O1 20.
Transcontinental Oil 6las with
warrants, was the outstanding
strong spot in the group, being
heavily turned over at its best
levels Of the year at los, it was
up 21a points above last nights
close, with the buying attributed
to the forthcoming merger of the
company with Ohio oil.
Rail bonds were dull and gen.
orally steady.
The Washington times., 1930-06-14
COPPER PRICE
SLASHED

NEW YORK. June 14.-Further
efforts Of custom smelterS to stir
up buying interest in the copper
market resulted in two successive
reductions Of one-quarter Of q
cent q pound each in the price Of
the red metal today.
This brought the quoted price
for copper to IL cents a pound,
which in turn represents the low
est figure at which copper has
sold since the start Of the spec
tacular advance in the price Of
the red metal nearly two years
ago.
Even at the low figures, how
ever, no important inquiries were
reported. Foreign demand for
copper was virtually nil and do
mestic buyers showed little dis
position to make any commit
mentS Of Importance.
AS a matter Of fact. buyers con
tinued to operate on q hand-to'
mouth basis. Fabricators also
showed little interest in the
market as they recently bought
substantial quantities Of copper
for delivery in June. July and
August.
The larger producers have NOT
as yet followed the reductions an
Ilounced by custom SmelterS and
in some quarters the belief pre-
vailS that they will maintain their
prices and thereby protect those
who purchased from them last
month.
The Washington times., 1930-06-14
PACIFIC JOINS
TRUST

NEW YORK, June 14.-AbSorp-
ton of the Pacific Trust Com
pany by the Manufacturers Trust
Company was approved by direc-
tors of both institutions at special
meetings held here today. The
merger will be effected without
an increase in the capital stock
of Manufacturers Trust, and will
be on a cash basis.
Stockholders of the Pacific
Trust Company and its affiliated
Securities Company are to receive
$191.50 in cash and a certificate
Of interest in the liquidation Of
certain assets of the company
The maximum amount to be real
lied with respect to these certifi-
Gates is estimated at approx
mately $3.50.
Herman Cook, president Of the
Pacific Trust and formerly a vice
president of the Equitable Trust
Company, will join and occupy an
important position with Manufac
tureres, it was stated, while Clif
ford E. Stone, Of the Central
States Electric Corporation, ano
Albert c. Lehman, Of the BlaW
Knox Company. at present direc
tors of the Pacific Company, will
be elected to the board Of Manu-
facturerS' Trust.
Manufacturers Trust, organized
in 1905. has a present capital anc
surplus of more than $50, 6,0O0. .OOt
and resources of approximately
S475, 600, 900, while Pacific TrusI
has a capital of $8,000,000.
Nathan S. Jonas is chairman
of the board of directors OF Manu-
facturers' and Henry c. Won En-
is president.
The Washington times., 1930-06-14
TRADE IS QUIET
DURING WEEK;
CROPS UP
Buying Of Steel Plates for
Pipe Lines Still Heavy;
industries Continue Dull

NEW YORK, June 14.-Reports
this week are mainly on the quiet
side, some Of this attributed to
the weather, which. while bene-
ficial to crops needing moisture,
has, because Of accompanying
GOODNESS, tended to restrict retail
buying Of light wear fabrics and
somewhat also to the advance Of
the season which tends to restrict
recorders from jobbers and whole
SalerS to absolute necessities,
BradStreet's will say Saturday.
Steel Plates Active
Exceptions to the generally
quiet trend are most conspicuous
in the iron and steel trade where
past or current orders for pipe and
oil tanks make for good buying Of
plates and for increased speed CT
output Of gas and oil equipment,
while structural materials have
been ordered heavily, much Of
this because Of heavy conStruc-
ton needs in and about New York.
Active road work, too, Is still
reflected in buying Of concrete
bars, while an active canning sea-
sons needs aid to increase other
wise quiet buying Of tin plate.
Automotive and agricultural i'm
plement buying of steel has eased
off. Ingot steel output after re-
action in May has gone slightly
lower this week.
Industries noting sustained or
increased quiet are furniture, no
siery, cotton goods. carpet and
lumber manufacturing, the latter
reported as notable both in the
Pacific Northwest and at the
South. Slowness of new house,
office and store building to ap-
pear is reflected here as in other
classes Of materials.
Shoe Buying Uneven
Irregular reports as to shoe
buying and manufacture are
noted, but with the weather
blamed for some Of the slowneSs
reported at Eastern as opposed to
Western points.
Reports from South as well as
North are Of curtailment agreed
on for the summer months in the
cotton goods line as still pro-
ceeding. Raw cotton and cotton
goods are off in price in sympa-
thy.
AS regards new buying at re-
tail best reports come from wo
mems wear ines, especially the
lighter forms of cotton and silk.
May production of motor We
hicleS totaled 433.328 units, a de.
crease of per cent from April.
and of 80 per cent from May. of
last year. according to the Ma.
tional Automobile Chamber of
Commerce. For the five months
ended with May the output aggre-
gated l,970,849 units. a decrease
Of 81 per cent from the like
ke iod # 1929.
The Washington times., 1930-06-14
BIC OIL FIRMS
MERGE

NEW YORK, June IA Plans
for the consolidation Of the Ohio
Oil Company and the Transcon-
tinental Oil Company, with COM
bined assets Of more than $780,
000, 900, have been completed.
Official announcement Of the
merger will be made on Monday.
Amos L. Beatty, chairman Of
the Transcontinental, would
neither deny nor affirm the re-
port tonight but said that he
would issue a statement Monday.
The consolidation Of the two
companies, it is understood. will
be effected through an exchange
of stock on the basis Of three
and one-half shares of Transcon-
tinental Oil for each one share
Of Ohio Oil common.
At present, relationships be-
tween the two companies are ex-
tremely close. TranScontinentsl
Oil, at the present time. jointly
operates 8 large area IN the
Yates pool in Pecos county,
Texas, with the Mid-KanSas Oil
and Gas Company, q subsidiary
of Ohio Oil.
Ohio Oil also owns the Illinois
Pipe Line Company. After the
merger of the two companies is
conSummated, 1t is understood
that Ohio Oil will extend its pipe
line facilities into the Yates pool.
When the merger is completed
the combined companies will con-
troll more than so per cent Of the
total production in the Yates
pool. The combined companies
also have large natural gas inter
ests in wyoming, Utah, Nevada
and Texas.
The Washington times., 1930-06-14
KFKC LOSES FRANCHISE

The Federal Radio Commission
today voted, 8 to 2, to deny sta
tion KFKC, at Milford, Kans.. its
application for a renewal of Il
cenSe.
The Washington times., 1930-06-14

market collapSeS, but they re-
cover before the rest Of the list
and receive the best Of support
in declines. The leading cigarette
producers are unafraid of trade
developments, for their consumers
remain consumers despite all un-
favorable conditions. For that
reason I believe American. To-
bacco, Reynolds Tobacco B. Lig-
gett and Myers B, and Porto
Rican American Tobacco B, are
among the outstandingly safe
buys in this market.
Many weeks ago, claimed
that copper stocks should be
avoided until the industry had re-
covered from the price-cutting
activities that threatened to play
havoc with copper shares. The
drop in price of copper metal
yesterday brought weakness in
copper shares and justified my
warning.
Simmons
Although it was one of the
sensational performers last year,
Simmons continues its decline.
Selling around 80, and paying a
So cash dividend. the company
has just passed the usual stock
dividend. Berkey and Gay, an
important subsidiary acquired last
summer, has passed it's dividend.
In well-informed quarters, it is
predicted that Simmons Co., may
omit it's next cash payment.
Increasing interest of the in
vestment public in realty Securi-
ties and large scale development
of properties have created the
New York Real Estate Securities
Exchange Inc, which offers a
ready market for trading in such
securities. Liquidity of invest
ments and improvement of the
status of securities as collateral
have resulted. The exchange pub
fishes a daily list of prices on all
realty securities which have
been admitted to trading.
Yellow Truck
yellow Truck gained sharply
on good turnover. Buying was
based on expectation that earn
ingS statement for second quarter
will make the best showing for
any three months in several
years and may be the best in
history.
Columbia Pictures. listed on the
curb, has. a contrsct with Madison
Square Garden to distribute the
championship fight pictures all
over the world. They are ready
now and are being shipped out
to distant points. Schmelings
victory should give the pictures
an enormous value in Germany.
The Washington times., 1930-06-14
WOOL REPORT

BOSTON, June ii GN.S0 -
Demand for 64s and finer terri.
tory woods was fairly heavy and
prices showed an advancing ten.
dency. Sles at IS cents secured
basis were much more frequent
than during the previous week
and practically all the offerings
available were held at 72 cents or
above. A few lines of very short
combing western lines similar to
Arizona woods were available at
around 10 cents. FleeceS of Gas
and finer quality woods also were
fairly strong at the same range
of prices that prevailed during
the previous week. Lower grades
were fairly active with 56s re-
ceiving somewhat better demand
than for some time.
The Washington times., 1930-06-14
Bids on u. S. Issue
Total S2,308,792.OOO

Subscriptions to the TreaSury's
new issue of 23s per cent. certifi-
Gates totalled $2.39S, 1872 ,0O6, Sec
retary Mellon announced today.
The Treasury allotted $42y,
373, 900.
Nearly $149. .OO0, 900 was allotted
in exchange for maturing certifi.
Gates. These exchange SubScrip-
tionS were. allotted Sc per cent
and other allotmentS were made
on q graduated scale. AllOtmentS
to the New York district totaled
$3.50, ,293 900.
The Washington times., 1930-06-14
Hoover Stays Out
Of Shoals Bill ROU

President Hoover yesterday
formally declined to intercede in
an effort to break the deadlock in
the conference on the compromise
Muscle Shoals bill. but said he
would sign it If it passes.
He made his statement in a con-
ference with Representative
Almon, CD, Alabama, who called
to ask him to use his good offices
to get immediate action. The
President told Almon he would
not interfere.
The Washington times., 1930-06-14
I. T. e T. Nets SIC
A Share in Quarter

NEW YORK, June IA Q.N.S0,
International Telephone and Tel
egraph Corporation and aSSOci'
ated companies, for the first
quarter, earned 81 cents share
on 5,871,821 shares.
This compares with SO cents
share on the equivalent OF
SOIL. 1888 present shares in the
like 1929 quarter. The regular
dividends were declared.
The Washington times., 1930-06-14
METAL MARKETS

NEW YORK, June IA U.NSo
Copper buying continues smah in
spite of the reduction to IL
cents a pound delivered. Copper
Exporters. Incorporated, has re-
duced the price of copper abroad
to 1885 cents a pound c. I. 2.
Hamburg, Havre and London.
Zinc buying was small with the
price unchanged at 4.5O cents a
pound East st. Louis. Zinc buy
ing was in fair volume with the
price at $50 cents a pound New
York, and $40 cents a pound st:
Louis. sAt
The Washington times., 1930-06-14
Tobacco Shares

Perhaps the only group of
stocks that fear no reaction is
the tobacco shares. OF course,
they slump when the entire
The Washington times., 1930-06-14
BANK FAILURES
!. ARE DISGRACE,
PLATT SAYS
Vice Governor AssaiIS Exhibit;
Asks Liberalization of
Branch Banking Rules

Assailing the whole exhibit Of
bank failures as a national dis.
grace, Edmund Platt, vice-gover-
nor of the Federal Reserve Board,
demanded in an address before
the New England council at Po-
land Spring, Me-, today that re-
Strictions against branch banking
by national institutions and with
in the Reserve system be liberal
lied.
After declaring the banking
system itself must have been at
fault in the tremendous number
of failures of small institutions
since the war and that lit was
not strong enough to stand up
under adverse conditions" Platt
made the following proposal:
II suggest as the first amend
ments necessary to remedy the
present disgraceful situation
with relation to bank failures
that national banks be given
the same privileges with rela-
ton to branches that State
banks have.
Second, that in all States
national banks should be per.
mitted to establish branches
through consultations in trade
areas, which might well start
with the limits Of the present
Maine law, with discretion to
the Comptroller Of the Cur
rency for extension when neces-
sary in order to secure diversi-
ficatiOn essential to safety"
Platt asserted the present sys-
TEN suits Wall Street bankers
exactly and he added Why should
they worry over the. continued
failures of a lot of little banks off
somewhere in the distant prai-
ries?"
Platt explained:
"As long as the banking units
out in the states can be kept
comparatively small the biggest
and best business must come to
the big cities and the country
banks themselves through their
correspondent accounts must
furnish a large part of the funds
with which this business Is
cared for"
The Vice-Governor praised the
Canadian banking system where
branches are permitted and said
that it has promoted the develop
ment of it's great West instead OF
retarding it," he added:
1--WE find, in fact, that inter
est rates in the prairie provinces
of Canada are generally some
what lower than interest rates
in our adjoining states, and that
a tremendous volume of money
has been lost through bank fail
ures in such states as North and
South Dakota, Montana and
Idaho, while just across the Dor
der in Canada there have been
no failures during recent years.
II have been credited with
having been something of o
pioneer i'm advocating branch
banking as q remedy for bank
failures. There still is urgent
need of coalition among our
small unit banks in the agri-
cultural sections Of the country.
Platt expressed the view that as
a result of the hearings before
the House Banking and Currency
Committee that some Of the op-
position to branch banking in
Congress has subsidized.
THE obvious thing to do is to
repeal some of the restrictions
and allow some freedom in nat.
ural development" Platt declared.
II do not believe there would be
any rapid or dangerous develop
ment, if the establishment of
branches were permitted within
trade areas"
The Washington times., 1930-06-14
Brokers' Loans Off
IO3 Million in Week

NEW YORK, June II. Total
borrowings on securities by brok-
ers and dealers for the week end
ed June II amounted to $685.
900, 900 a decrease of $103, ,000. 900
as compared with the preceding
week. Total loans on the same
date a year ago aggregated S.
$4,000, 900.
The Washington times., 1930-06-14
Gen. RefrnctOrieS
PROPOSES Increase

NEW YORK, June IA GNso.
General Refractories has notified
the New York Stock Exchange
of the proposed increase in the
authorized capital stock to 6OO.-
600 shares from 100000 shares.
The Washington times., 1930-06-14
Warner Bros. Get
TLUO More TheGterS

NEW YORK, June IA UN.S).
Warner Brothers Pictures, Inc,
have completed negotiations for
the acquisition of the Middlesex
and Palace Theaters, in Middle
sex. Conn.,, it was reported yes
terday.
The Washington times., 1930-06-14
AUGUST seen
AS FIRST
RELIEF
Traders Working During Mix
ed Trend May Make Money
But Must Use Caution
By THE SPECTATOR

BY THE SPECTATOR
Prices advanced from / to 3
points in leading stocks yester'
day, the second time this week
that the market has enjoyed a
recovery. Fluctuations were on
a wide scale, however, with a
series of rallies and reactions
serving to keep traders in sus-
pense.
The gains on the day merely
cheered those who had wondered
whether the market could show
signs of improvement, Com
modify markets offered nothing
to encourage followers of the
stock. market. Copper prices were
shaded again, wheat was off
more than 2 cents buShel and
cotton futures touched new lows.
Once again I repeat the advice
that I have given for many
weeks, namely buy stocks on re-
actions and sell them on rallies.
Those who have been right on
the market consistently for the
last month are offering this
advice, and probably will con-
tinue to offer it for a month or
two to come.
I believe we are in a bear
market that will continue until
late August or early September,
and that the only opportunities
for profits will be for those
traders nimble enough to step
into the market near the lows
and out near the highs of the
various movements.
Traders may pick up profits
during the summer, but my
advice to long-pun investors Is to
stay out of the market for the
time being. I think stocks will
sell lower within the next month.
Real Liquidation Shown
In. this column yesterday, I
claimed that the selling of good
stocks indicated genuine liquida-
ton, rather than an outbreak Of
bear selling. The opinion of
brokers and bankers bore out my
claim. With brokers' loans down
to $103, 100000, it was obvious
that little speculative activity had
come into the market. Wednes-
days and Thursdays reactions
probably will result in a further
substantial drop in brokers' loans
next week. Those investors who
subscribed to the reparationS
bonds probably were of a type
that did not need to borrow, and
the international loan is un-
likely to result in increased loans
for brokerage account.
United States Freight dropped
to a new low at 81, where it
was down more than IS points
from last weeks high. It's bust
ness is being investigated by the
Interstate Commerce Commission.
following the railroads charge of
unfair competition.
General Foods
I would not be surprised to see
General Foods move upward
sharply within the near future,
due to announcement that a deal
with the Great Atlantic and
Pacific Tea Company is being
negotiated, whereby the latter
company would lease the frosted
food process of General Foods.
Frosted food, according to those
close to the company, may be
the means of greatly increasing
the revenues of General Foods.
The process is a new idea in the
refrigerating line. making it pos
sible to deliver fresh meats, fruits
and vegetables from the West
coast. or Middle Western cities to
industrial centers on the Atlantic
seaboard.
There are few stocks on the
big board that have more friends
than LooSe-Wiles. Second only
to National Biscuit in the baking
field, its financial position, earn
ings and future outlook make it
q good investment.