davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-09-10
RESERVE BANKS
REPORT OVER
8 BILLIONS
Certificates Of Deposit and
Christmas Accounts Add
8 Billions More to Fund
By ROBERT 5. THoRNBURGH

BY ROBERT S. THORNBURGH
Despite the business depression
and resultant unemployment saw
ings deposits in the National
banks and other institutions Of
the Federal Reserve System re-
main at a high level. in a gen.
cral way indicating that the
country will weather the eco
norlic storm with minimum dis
comfort.
Figures obtained today, the last
available. showed that at the be-
ginning Of July there was de-
posted on savings accounts in
all member banks So, ST., ,52I 600,
on certificates of deposit $1,86l, :
5O4 900 and in open accounts and
Christmas savings, $1,232, ,679 900.
Time Deposits 13 Billions
Total time deposits were $l3,.
811,978, 900, an increase of $293,.
247, 900 since March 81, and $486,-
$4,000 since June 30, 1929. De-
mand deposits were $18,O61 ,977,.
0OO, increases of 1888 ,072 900 and
$247.374,OO0 since the previous
March. and June, 1929.
This brought the total deposits
to $38, ,139, ,178.000. increase of $2,-
3O3,O22 and $2,246,347, 900 since
March, and last June. Likewise
the resources of the member
banks gained heavily, having
amounted to $47. .9O6, TAG, 900 June
80, an increase of $2,O46, ,36l 600
since March and $1,998, ,739 600
since June, 1929.
While 1t is natural that hank
accounts would increase during
economic periods such as the
country has suffered since last
autumn. owing to the lack of
demand for capital, the figures
also indicated. according to off
Gals, that fundamentalIy the
United States is firmly en-
trenched and as a whole in n
position to meet and withstand
the recession for some time to
come.
Country Banks Strong
More than half of the deposits
as evidenced by savings pass
books, or $5,095, ,662 900 was in
the so-called country banks. In
central reserve city banks was
$3.50, 900 in this class of say
lngS with $3,773. 1859 900 in other
reserve city banks.
The Washington times., 1930-09-10

'prices at which they publicly were
offered in this country. The same
is true Of many Of the foreign
government issues.
American investors should buy
sound American bonds. The In
terest rates may not be quite so
high as on the foreign note, but
they are 100 per cent safer.
The following table shows losses
suffered by American investors In
foreign government bonds. Losses
range up to more than $3l. The
t. BILE compares the price at which
the bonds were offered to the
American public. the current price
and the difference between the
two.
The Washington times., 1930-09-10
TRADE UPSW|NG
|SPRED|CTED
BY BABSON
Noted Economist Advises That
Present Need Is to Circu-
late Money In Country

WELLESLEY, Mass, Sept. II
HNS).-Improved business con
ditions this fall were predicted
today by Roger w. Babson, stats
tician. opening the seventeenth
annual National Business Confer
ence Of Babson Park.
He said:
"It is just as evident today
that business is now bound to
improve, as it was evident o
year ago that the high pace Of
early 1929 could mot keep up."
Declaring there is just as much
money in the country today az
ever. and that the need of the
hour Is to increase the circulation
Of money, BabSon gave these four
concrete suggestions for speeding
up prosperity:
I. Reducing overhead by NOV
ing men from the office into
the field:
2. Giving better measure to
customers;
3. Discovering new products
and new uses for present pro
ducts;
4. Sp ,nding more money on
advertising.
Stating that perhaps advertis-
ing was the most important
factor Of all. Babson said:
81 wish to 90 on record today
rs definitely advising all clients
to increase their advertising ap-
prOpriatiOns and to use news
papers, magazines and outdoor
advertising in their respective
cOmpaigns and communities"
He pointed out that this was
a reversal of his statements of
the past two years when he re-
fused to recommend increased
advertising appropriations when
there was q shortage Of goods, a
shortage Of labor and a shortage
Of money.
Bahson told the conference
that what is to happen in 1891
will largely be determined by the
policy Of American business to.
ward the four recommendations.
He based his predictions, he said,
on statistics.
He declared that we have heard
too much this year about terrible
crops and similar exaggerations
and asserted that it seemed as II
Washington had become crop
crazy. Today. he added. we are
living in a gasoline age. He said
that the real crop failure today
is not agricultural. but rather in
connection with the crop Of in
stallment sales.
BabSon said that depreSSionS
are no longer an economic waste
but now perform very useful func-
tionS. adding that a normal bust.
ness depression, such as the coun.
try Is now witnessing, is useful in
its important corrective results
He ridiculed the talk of over-pro.
dIction, stating that the real rea-
son for present conditions was
that goods produced have not
been properly distributed and a
lack in circulation Of money, large
ly through non-buying. He Illus.
trated by stating that only 20 per
cent Of the homes Of the country
have bath tubs and If 10 men on
an island with 500 each should
buy nothing business on the is
land would be at an absolute
StandStill.
The Washington times., 1930-09-10
UDard of Stocks Continue the Spectator Advises Traders
Foreign Bond Drop
Hits Holders; Loss
Declared Enormous

Two South American govern
ments have fallen in revolutions
in the last two weeks. The gov,
ernments Of two others are threat
ened.
Mexico, in the last month, has
settled at considerably less than
100 cents on the dollar her bonded
debt borrowed from American in
veStors.
These are just some Of the pit
falls in the path Of the investor
In foreign government securities.
Some Of the newer European
bond isSueS-the German repara-
tions loan and the Austrian loan
ARE selling several dollars below
The Washington times., 1930-09-10
Phillips Petrol
Assets UD in 6 Mos,

Statement Of the Phillips Pc
troleum Co. and subsidiaries as
of July 81, 1880, shows total as
sets of $16--,737 ,6O7 compare with
$145, ,384, 1854 on December 81, 1929.
q" ned surplus in the period
amounted 20 $36,777,028 against
$34, ,J59,513. Current assets totaled
$3e, ,942 ,09O aid current liabilities
$5,446.261 compared with $685.
557,510 and $6,348,615 on Decem-
ber 81, 1929, respectively.
The Washington times., 1930-09-10
Final SOcOny Merger
Hearing Due Oct. 6

A summary of the evidence
and testimony Of witnesses for
the Government and Standard
Oil Company, of New York and
Vacuum Oil Company. given at
hearings in the Governments suit
to prevent proposed merger of
these companies, has been pre-
pared by Special Master Fred l..
Williams and presented to the
United States Court of the
Eastern District of Missouri. Final
argument in the case has been
set for october s and Z. It is
not considered likely that a de-
cision will be reached before the
end Of this year.
The Washington times., 1930-09-10
Bendix

I hear there is a move coming
in Bendix. Trading volume the
last two days has been large, in.
dicating the beginning of group
activity. The stock has been well
bought of late.
believe you can play Bendix
for a moderate rise, and there
isn't much chance of getting
burned around current levels.
Earnings for the year probably
won't be more than $1.50 on the
common, it is estimated, but I
am told the 50 dividend is safe.
The company is in a strong cash
position.
Bendix is a subsidiary of Gen.
eral Motors. and a large per-
centage Of the common is out
of the market. This means that
the stock can step along when
the move gets going. The long
term outlook is good, for Bendix
will share in any improvement
in the aviation and automotive
industries.
Increasing activity in Kreuger
and Toll is the forerunner of an
advance, hear. There has been
smart buying the last few days,
and a group recently active in
Diamond Match is said to have
taken a big long position in
Krenger. The company is a
leading factor in the world match
industry and is an international
banker as well. The stock is a
safe bet and has big long-pull
The Washington times., 1930-09-10
MMGi'r Sales Rise
SLiUktLU In AuUust

MacMarr Stores, Inc, reported
today sales for August of $7,345,-
461, compared with $7,345, ,461 in
August, 1929. In the eight months
ended August 81 sales totaled
$57, ,90S, ,123, against $56,190,7o3 in
the like 1929 period.
The Washington times., 1930-09-10
NEWS
In TOdays
CLASSIFIED ADS

FURNISHED ROOMS--FalrmOnt st.
n. W.; lovely, double. front roOms;
excellent meals: $3.50 week and upi
also table board
LOANS-L0ans nc reasonable rates
ON Autos and Store Fixtures; see
me at my new downtown location.
FURNISHED APARTMENT-Near
Dupont Circle; bachelor studio: 1n-
usually large outside rooms; south
ern exposure; SlSS Rer month.
REQ 1929 FLYING CLOUD-SpOrt
Coupe with rumble seat. equipped
with 1880 silent second transmits
sion, 8 wire wheels, good rubber. top
ana original finish like new; mo-
tor guaranteed In WFitlng; will
trade and give ternas.
BUSINESS OPPORTUNITY-Barber
ShOp. fully equipped; good business;
rent. $40; coed reason for selling.
HOME FOR RENT-DesiFable g.
r00m-a and-hath house In excellent
condition. lOeated iB Northwest sec
uon; saltable for FaomlnG paFpOses;
eseetrie hghts. 2-eaF gaFage; e1O.
These are ''sidelt0hfs' - aDss o. RaRl
lterestsag ddCerttssmeats VOU spfN ftad q
'aosS 1sMes GHd Heyald ClassiJie9 ADJ
The Washington times., 1930-09-10
Tractor Exports at
Nen Hinh Record

Registering an increase of
$11 ,00O, 900 over the like period Of
last year. u. S. Tractor exports
reached q new high during the
first half Of 1890, according to
the Department of Commerce.
The Washington times., 1930-09-10
CAUTION SHOULD Be USED
IN TRADING DEALS
By Operators of Large Pool; Stand
ard Brands Declared Good
By THE SPECTATOR

BY THE SPECTATOR
The market band wagon goes Creaking along good deal
Of noise here and there but not much to show.
Stocks raised their heads yesterday after resisting selling
most Of the day. The gains in the high flyers were
nothing to write home about.
The undertOne however, strong all day and II looks
as though the rally which started before the close will
continue into today But remember to accept fair profits
and don't buy buges There will be plenty Of reactions
to give chance to come in
The Washington times., 1930-09-10
Crude Oil Output :
Off 35,44O BbLs. Dan

TU L S A, Sept. 10.-DomeStic
crude oil production in the u. s.
in the week ended September 8,
averaged 2,437,712 barrels daily. a
decrease Of 35,44O barrels daily
from the previous week, accord,
ing to the Oil and Gas Journal
The Washington times., 1930-09-10
Standard Brands

Interests close to Standard
Brands say that earnings are
showing a steady gain. Profits
for the third quarter, may cover
the dividends requirements it is
estimated, and the fourth quarter
may be even better. This would
bring earnings for the year pretty
close to the $50 dividend re-
HiirementS on the common.
I am told the dividend is safe,
that there was some talk Of a
cut before the st directors meet
ings but that the Morgan and
FleiSchman interests, the biggest
stockholders, voted that the cur
rent payment be maintained. The
company it is said. is beginning
to feel the benefit of the con-
solidation, and there has been
steady accumulation of the stock
recently on the improvements in
its outlook.
The OLD group in Columbian
Carbon is said to be reaccumu-
lating it's lines. Earnings for the
second half ~-., are reported to
be running at higher rate than
in the first half despite the de-
preston in the carbon back in
dustry. am told the $5 dividend
and the 81 extra will be paid
even if not earned. Columbian
hasn't much stock outstanding
and is a fast mover. 1t has nat
u-al gas holdings, too.
General Foods
Insiders are adding to their
lines of General Foods, / under.
stand. This may forecast a
move, but Foods has always been
slow. It is attractive around cur.
rent levels in the stability Of its
business, good earnings, and ex.
cellent management. The COM
pany should earn about 81 on
the common for the year. The
stock will probably work up In
any kind of a market, but it is Of
the type to appeal to the investor
than to the trader.
The company has attractive
long pull possibilities, especially
in its freezing process. The stock
yields more than S per cent at
current levels, a fair return. It
will make a lot of money for
the patient holder some day IL
Foods experiences only normal
growth in sales and earnings.
3
Thompson Starrett, currently
selling round IL, looks like q good
low-priced speculation. Earnings
for the first quarter were 50
cents share. The company
earned $2.02 on the common last
year. Thompson Starrett is one
of the leaders in the building in.
dustry. Uncompleted business on
hand at the latest report was
over $4,000, ,OOO. considerably
ahead Of last year.
The Washington times., 1930-09-10
Here and There

Strength in Burroughs Adding
Machine is mainly at the expense
Of q sleeping short interest. 1
understand. Report that the
company was bringing out a
machine 10 compete with Cash
Register Is said to be unfounded.
luTTOughs Is Q rich company and
The Washington times., 1930-09-10
Local Stocks

Potomac Electric 5la pfd.. 10
10S. -.
Merchants Bank and Trust
Company, 1O@125.
Firemen's Insurance Company,
1903. 80
The Carpet Corp, 5o024as. 100
@24H, 50@24t2.
AFTER CALL
Merchants Bank and Trust Com
pany, 1O@125.
Potomac Electric 512s pfd., 100
1OS, 100 10S, 100 108, SO lob.
The Carpet Corp, 20@24Ka.
Capital Traction Co., lO06l. 20
@61. 1O061, 5@6l, 20061b. SO
61ls.
Capital Traction IS, $4,000
1894, $3.000@93B.
washington Gas IS. 5000 1O4.
The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1930-01-10
Scott Leavitt Has
Giant Wolf Skin

WASHINGTON, Jan Nation
wide newspaper comment and
publicity have followed Congress
man Scott Leavitt's recent ad-
dress before the House of Repre-
sentatives, in which he urged in
creased appropriations for the ex-
termination of predatory animals.
Coincident with his address, Con-
gressman Leavitt exhibited the
skin of a giant wolf which was
killed in southeastern Arizona.
The wolf, it is claimed, had during
his lifetime caused the cattlemen
of Arizona and New Mexico a loss
of at least $25 1000. He was a huge
animal, measuring over six feet
from the tip of his nose to the
tip of his tail.
Mr.. Leavitt received the wolf
skin as a gift from M. E. Mus
grave, who is in charge of the ex-
termination of predatory animals
in Arizona and formerly worked
with Mr.. Leavitt when both were
rangers in the Eastern Oregon
country, over 20 years ago.
The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1930-01-10
FULL DAYS WORK
FOR DIST. u

Continued from page one)
Fad and to another which he
cashed at Davey's. On n count
he was given a year in Deer
Lodge, and on the other count
three years, but the three year
sentence was suspended. The for
geries in question occurred about
Sept. 1, 1928. Block was found
at Canon City, Colo, several
weeks ago and brought back
here at a cost of something like
$3.50 to the county.
Ebert Long OF CuIbertson,
charged with forging the name
of j. A. Mccain to a check for
s135.65, pleaded guilty to the
charge and was given a five year
suspended sentence. Sentence was
suspended on account of this be-
ing his first offense. 1t seems he
represented that he had sold Mr..
Mccain some cattle and the forg-
ed check was supposed to be in
payment. In the testimony it was
brought out that this was only
the second check that Long had
written in his life.
The case of Achsah Wood
against the Great Northern for
damages on account of the death
more than a year ago of her
alleged common law husband,
which occurred when a passenger
train collided with a railway
speeder near Bainville. The plain
tiff was represented by attorneys
Catlin and A. J.. Knox, while
Cliff and Glover are attorneys
for the railroad. The matter in
question was argument on a de-
murrer. The court took the mat
ter under advisement and gave
The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1930-01-10
HAS STOCK
In NATL GRAIN

GRAND FORKS, N. Dak.,-An-
nouncement that the North Dako-
ta-Montana Wheat Pool had made
application for the required
amoupt of stock in the Farmers
National Grain corporation was
made here by Geo. E. Duis, presi-
dent of the wheat pool organiza-
tin who is also a director of the
Grain corporation.
The application for stock is
based on the average volume Of
business over the past three
years.
Only organizations qualified un
der the provisions of the Capper-
Volstead act are eligible for mem
bership in the Farmers National
Grain corporation, and it was
pointed out that the application
made by the pool organization is
a formality and that approval of
the application is assured as the
Wheat Pool has been qualified un-
der the Capper-Volstead act eyer
since it began operating and was
ready to receive loans from the
Federal Farm board Immediately
following the announced stabiliza-
ton program of the board, and
large advances on wheat have
been made to it's members since
that time.
Organizations qualifying under
the Capper-Volstead act are re-
quired not to do any more bust
ness than is carried on with
carried on with members. The
pool organization deals almost en-
tirely with members, and for that
reason is qualified in every de-
tail.
Directors of the Farmers Nat
ional Grain corporation will meet
in Chicago January II, at which
time applications for stock Will
be acted upon, and other import
ant matters in connection with
the wheat sterilization program
will be discussed. Mr.. Duis will
attend the meeting.
The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1930-01-10
TREE PRUNING CAN
Be DONE IN WINTER

Contrary to the old belief that
pruning must be done in March,
horticulturists now advise that
pruning may be done at any time
from November till April. 1t can
even he done in summer but not
with the ease that it is accomp-
lisned at this season.
No matter when the pruning is
done, no cuts should be made
thai will leave an open wound
over three quarters Of an inch in
diameter.
Hedges are usually composed OF
hardy species that can be trimm.
ed without serious damage at al
most any season. Some ornament
ais are less hardy and these must
be pruned with are. No large
cuts should be made.
Pruning has a limited applica-
ton in the ~shelterbelt. Unless 1t
is done intelligently it is best to
do no pruning whatever. The
practice of removing all branches
up to 5 feet is detrimental. Ben
eficial pruning is limited to early
trimming to assure one single
trunk in each tree.
1t is desirable that the outside
row of every shelterbelt act as
a snow catcher so it is best to
allow all low branches to remain.
In many cases top trimming Is
resorted to. to encourage low
growth. Inner rows Of trees may
De trimmed slightly but in the
average shelterbelt no trimming
is better than over removal OF
low branches. In all pruning oper-
ations it is better to have the
knife or shears well sharpened to
make a clean cut and leave no
stubs.
"A. w. Warden, County Agent,
The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1930-01-10
NOTICE FOR PUBLICATION
Department of the Interior

pa N'''SfN ~
U. S. Land Office at Great Falls,
Montana, December %, 1929.
NOTICE is hereby given that
Engebret Goodwin Lee, of Wolf
Point, Montana, who, on April 20,
1925, made Homestead Entry, No.
061367, for Lots s, 8, 10, II, Sec.
% and Lot 8, Sec. 81, Township
81 North Range AZ east, Montana
Principal Meridian, has filed no.
tice of intention to make three
year Proof, to establish claim to
land above described, before o. 7.
Stennes, U. S. Commissioner, at
Wolf Point, Montana, on the 18th
day of February, 1880. Claimant
names as witnesses:
Joseph Pipal, Of Wolf Point,
Montana; Sig c. Lund, of Wolf
Point, Montana; Theo Rudd, of
Wolf Point, Montana; A. T. Lis
tug, of Wolf Point, Montana.
M. D. NICHOLSON,
47-5t Register.
The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1930-01-10
z z z z Z z Z z z q q q
z { CHURCHES q
q "a
K q Q q q
PRESBYTERIAN CHURCH

VIM. G. Johnson, Pastor
Notwithstanding the storm there
was a splendid attendance at
both Sunday school and preach
ing services last Sunday. The
adult Bible class got under way
with an attendance of nine. We
are expecting several more next
time. Come and get the benefit
of a six months study in the life
of our Lord from the Gospel of
Matthew.
Communion service next Sunday
morning. Reception of members
and administration of the sacra-
ment of baptism. Brief address in
connection. All who love u Lord
are invited to commune with u.s.
At the evening hour the pastor
will begin a series of talks based
on the book of Acts, designed
with reference to the celebration
this year of the Nineteen Humid
redth anniversary of the day Of
Pentecost.
Sunday school at 10000, preach
ing services at HOO and 7:30.
We extend a corliai invitation to
all to worship with us.
The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1930-01-10
WHAT SHALL BE DONE?

Starving and stunning u state
educational institutions is not the
way to develop Jul state or do
justice by our children. Like the
public schools of nearly every
town, the state institutions have
outgrown their youthful habili-
ments and their needs must be
taken care of. AS Chancellor
Brannon and other officials have
told us many many times, the
statutory limit of n and
one-half mills 1920 of one per-
cent? is far from sufficient to
meet the actual requirements of
the university. What shall we
do about it is the question that
confronts the people of the state,
and the question considered at
the Helena conference on January
4th.
The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1930-01-10
SAFETY FIRST--NOW AND HOW

Why not a Safety Day. A time for EVERY
BODY thoroughly to go over and inspect and make
safe the houses or apartments where they live-every
attic, electric wire, chimney and stove pipe and
stove, basement, furnace, ash heaps, and the in
fIamable material near them. Also oily rags, rub
bish piles and paper lying ready to catch matches or
cigaret butts.
Fifteen minutes to an hour, carefully applied, by
every householder or tenant, both town and country,
might and in reasonable probability would save fire
losses ranging from $500 to $4,000.
Pick your own day. Amy old day, just SO it is
TODAY.
(Clip me out and pin me UP in your home or ofice)