davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
FARM BOARD ED|CT
. ON ACREAGE CUTS
IS BEING SPURNED
Western U. S. Is Apparently
Planting More Grain Than
1t Can Sell.
BANKS RENEWING LOANS
ON WHEAT IN STORAGE
Estimate on Buying Power Of
Agricultural Districts Con-
tinues Uncertain.

Special Dispatch to The Star.
KANSAS CITY, Mo-, August q
With Summer two-thrds gone. the esti-
mates of ultimate farm buying power
continue to be uncertain. The corn
belt, after a full month of baking sun
and only local showers, faces a serious
depreciation in its crop prospects. Up
land and early fields are mostly hope
less; others may yet have fair yield
with proper moisture.
Cattle men, who are settling their re-
cent undertakings with losses on mar
ket practically SO per cent OF one year
ago, are not inclined to make another
attempt at this speculation and are
contemplating the situation with doubt
fitness as to just what is to occupy
their Winter activities.
At present preparation for the new
wheat sowing Is under way with no IN
dication of decreased acreage, despite
the farm boards advice. This Is par
ticularly true of the high plains area,
where mass production is a popular the
DRY of procedure. Low returns OF other
crops in the Eastern section inspire
wheat planting as method of securing
some use of the soil.
Rural banks are showing increased
loans and slow liquidation of paper.
Producers are not borrowing against
their wheat, which is being held in large
quantities, so much as they are renewing
their notes and placing their grain as
security to carry along debts in hope OF
a higher price. The affect is to keep
the banks on a basis of narrow reserve.
for while deposits have increased from
grain that has gone to market, the i'm
mediate use of money to meet passing
obligations maintains a low deposit con-
dition unusual at this period OF the
year.
(Copyright, 1930.)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
Bonds Hold Firm
During Week, but
Make Little Gain
Cheap Money Fails to Give
Impetus to Market.
Few Large Issues.
snecial pispatch to rhe star.

Special Dispatch to The Star.
NEW YORK, August 2.-Though the
bond market equaled its previous high
mark of the year during the past week,
there was little to indicate the immedl-
ate arrival of the thriving market that
has been so confidently predicted OF
late
Standard Statistics index of 80 bonds
touched 1905 on Monday, maintained
that level on Tuesday, dropped to 1904
on Wednesday and Thursday and at
the end of the week was back at the
high point again. Tuesdays and Wed
nesday's sessions saw a little heavier
volume of trading than has been the
case in recent weeks, but dizziness on
Monday and late In the week brought
the weeks total down to the level so
prevalent since the opening OF the year.
Low Money Rates.
Much has been said about the effect
of low money rates, but a little analysis
of the present situation will reveal that,
though money rates are today as low as
they were in April, 1928. the Standard
Statistics index during that month
crept up to 1924, against 1908 to-day.
So it is apparent that the market,
despite its recent advances, mas not yst
climbed to the highest point possible
under current money market conditions.
On the other hand, it is quite true
that the market today is as high as II
mas been since the high point OF July.
1929 and that, with the exception OF
the peak reached early In 1928 and in
the Winter of 1927, it Is at its highest
point since 1916.
The favorable Interpretation to be
taken from this is that the investment
market still has lesway in which to in
dictate, as it traditionally does, the re-
turn of business activity by a surging
upturn.
During the week there were $1l8,968.-
900 of new bonds put out, which, while
almost double the figure of the previous
week. was still much below the record
week of the year. 1t compared with
S33187. 500 in the like 1929 week. The
largest single issue was $50 100000 OF
General Gas & Electric Corporation
Az and per cent serial notes. due 1881
to 1885. 1t is interesting to note that the
flve-year maturities of these, at the Of
fering price of 95.75, yield per cent,
fat weld in the current tightly priced
short-term market.
New Large Issues.
In prospect there are few stable is
sues The Ontario Power Service Com
pany, Ltd, has announced new
The company is q subsidiary of Abitibi
Power g. Paper Co. Large amounts Of
foreign financing are still being held
back. though the past week saw the
flotation of $10,000,000 Saxon Public
Works, Inc, 5 per cent guaranteed
notes, due 1882, priced at 971a, TO yield
6.35 per cent. The notes carried the I'M
conditional guarantee of the Free State
of Saxony and the high price indicated
the reluctance of the market to accept
anything but the highest grade Of for
eign dollar bcnds.
Really good foreign bonds were in
strong demand. as witness the advance
of the French rs and 712s to new high
levels.
Copyright. 1e3oJ
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
JUNE BUILDING OFF
IN FIFTH DISTRICT
Contracts Actually Awarded Made
Much Better Showing, Rich
mond Bank Says.

Building permits issued In June, 1890,
in 80 fifth district cities were lower
in number and lower in estimated VAL
uation than those issued in June 1929.
Permits for new work issued last month
numbered 1852, compared with 1929
permits for similar work issued in June
a year ago. Valuation for new work in
June. 1880, was only $6,147,036, one of
the smallest figures in recent years, and
even less than the low total Of $780,
$40 reported for June last year. Com
bining valuation figures for both new
work and alterations and repairs. and
comparing the total with the CORE
spending total for June 1929, last
month shows decline of $2,655, 155, or
258 per cent.
Baltimore, Washington, Richmond
and Norfolk all reported low figures for
June, 1890. Among the smaller cities.
several showed satisfactory figures in
proportion to population, Columbia,
S. c.: Wilmington and High Point,
NJ c.; Salisbury and Hagerstown, Md.
all reporting relatively high totals. In
several Of the reporting cities large
planned during June, but permits were
not issued until after the close of that
month.
Contracts actually awarded in June
for construction work in the fifth
reserve district totaled $37,665, 800
compared with $34,431, $50 in contracts
awarded in June last year, the district
making q much better showing in con-
tracts awarded than in permits issued.
The contract award figures include both
urban and rural construction, including
road building, bridges, etc., while the
figures on permits issued include prof.
ectS inside city limits only.
OF the contract awards in June this
year, $10,120,240 represented residential
types OF construction, relatively low
figure for this class of work.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
CHEAP MONEY CLEARS
-. WAY FOR RECOVERY

The most encouraging factor revealed
In a comparison of the present indus
trial situation with all other depressions
in modern history is that the recovery
which inevitably follows slump in
has been sharp and substantial reduce
ton in interest rates, according to
Dividends" the monthly review pub
lished by Kidder, Peabody g. Co. with
rates onS three to six months CONNER
cial paper in the neighborhood of 3
per cent at present as against about
per cent just year ago, the way
appears cleared for a recovery this
publication says.
"As pointed out before, however, easy
money is to q great extent O. symptom
OF poor business and only partially q
means to the end of Improvement in
the general situation" the review con-
tinues,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
YEARS NEW ISSUES
LED BY. UTILITIES
Public Financing Aggregates
$3,901, All, 900 for First
Seven Months of 1880.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, August New public
financing in the United States during
the first seven months to July 81, 1890,
excluding domestic and Canadian mu-
nicipals, aggregated $3,901, All 900, ac-
cording to preliminary compilations
announced by Otto p. SchwarZSchild
editor of American Underwriting Houses
and Their Issues and manager of Ma
tional Statistical Service, New York
City. This total compares with $4,149,-
$4,000 for the same period of 1929.
The review includes stock issues as
well as bonds and notes. Preferred
stocks of set par were considered at
par, while all no par stocks were CAL
culated at public offering prices. The
record was compiled from advertise
ments of syndicate offerings and the
head of the syndicate was assumed to
be the firm appearing in the leading
position in the advertisement.
The compilation reveals that. j. P.
Morgan & Co. led the list of invest
ment houses during the first seven
months by heading syndicates amount
ing to $3.50, IT'S, 900. Harris, Forbes g.
Co, with $685., 259, 900. ranked second
and Kuhn. Loeb & Co. third, with
$244, 1926, 900.
The results of the first seven months
from the standpoint of total business
participated in, either as head or par
ticipant, show that Harris. Forbes &
Co. accounted for the largest volume,
with $1.1l6,76 900. The National City
Co. ranked next, with an aggregate of
81 ,087 1894, 600, while the Guaranty Co.
of New York was third, with $971,-
An analysis of the financing during
the first seven months reveals that of
the total new offerings of 1901 All 900.
bond and note issues aggregated ST.
452,557,000, or over 80 per cent of the
total, while stock issues amounted to
only $448, 1854, 900. Domestic public
utility financing totaled 81 800, 125, 600,
accounting for more than one-third of
total offerings. Domestic railroad is
sues ranked second, with $594, $50 900.
Canadian corporate and other foreign
issues aggregated $500, 461 900, while
new financing for financial and invest
ment companies totaled 1922, $50 900, of
which over two-thirds comprised bond
and note offerings
During the first seven months of 1929
new offerings in behalf of Public Util-
tiles amounted to only $7l0,011 900, for
railroads only $l52, 493 900, while in
vestment trust financing reached a
total of $1,120, 1868, 900.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
TRADE DECLINE IS INDICATED
IN WEEKLY COMMERCE REPORT
Wholesale Prices Slightly Changed From
Last Week, but 16 Per Cent Lower Than
In Same Period Last Year.

wheat yield promises to be heavy, al
though reports of rust and lodging are
damaging. Saskatchewan prospects are
fairly good in the western, northern
and east central districts, but range
from fair to poor elsewhere. Alberta
reports heavy crops in the north, un-
even conditions in the central eastern
section and reduced yields elsewhere.
Business conditions in Brazil continue
unsatisfactory, with many classes OF
trade reporting less activity, bringing
almost all lines far below normal. jan
uary to May trade figures show export
values have declined Is per cent and
import values 80 per cent, resulting in
the largest favorable trade balance in
many years. Exports have been light
and the import volume has fallen be-
low recent low levels. Industrial ac-
tivity has declined further and ex-
change has fiuctuated considerably.
The credit situation remains un-
changed.
The slowing up of business in Cuban
trade centers, customary during the
Summer months between crops, has
brought the volume of business turn
over this year down to level consid-
erably below that of any period in the
last six years. Because of general bust
ness inactivity, currency has been flow
ing into the banks, which, finding the
volume in excess of current needs, have
transferred large sums to the United
States.
From France comes the unofficial re-
port that between 10000 and $4,000
workers throughout that country are
now on strike in protest against the
deduction of social insurance assess
ments from their pay. The principal
strikes are said to involve $4,000 metal
lurgical workers and 1000 textile work.
ers in Lille, several thousand textile
workers in Roubaix and Tourcoing,
and 10000 textile workers in Armen-
there's. In addition there are 1000
strikers in Rouen, of whom approx
mately 1000 are lockers, and 1000 ct
HaVra
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
GRAIN MARKET

CHICAGO, August 2 (P.-All deliv-
cries of wheat today sold at new low
price records, outdoing bottom levels
heretofore unreached in many years.
Instability of wheat quotations were
consequent to a considerable extent on
expectations of liberal increase of the
United States visible supply total on
Monday.
Notwithstanding that the wheat mar
ket was, In some respects, the star per-
former, corn attracted more attention
during much of the day, and averaged
higher, with March delivery attaining
a new top price record for the season,
the weather forecast for next week in
dicating that there would be no gen.
eral breaking of the drought.
Wheat closed nervous, ssa34 lower
than yesterdays finish. Corn closed
irregular, ranging from Il net decline
to 1ss advance. Oats. sass off, and
provisions showing l7a45 advance.
Grain range at principal markets:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
BY the Associated Press.

BY the Associated Press.
Business declined during the week
Inded July 26, as compared with the
previous week, and with the corre-
spending week of last year, the Com
merce Department reported in its week.
ly review of the situation at nome ana
abroad. The volume OF cnecK pay
ments is used by the department as It's
barometer.
The report found wholesale prices
but slightly changed from week ago,
but were 16 per cent lower than the
corresponding period last year. iron
and steel prices likewise showed no
change from last week but. ike Wnoie-
sale prices in general, were lower tnan
year ago.
Bank loans and discounts OF mem
Der banks of the Federal Reserve syS-
tenn for the week ended July 20, re-
corded but slight change when COM
pared with the preceding period ana
the corresponding week in 1923. aver
age prices for representative sto el,s
showed no change from last week, but
were much lower than year ago.
Bond prices, on the other hand, re-
corded increases over both prior
periods. Interest rates for call money
fell off, while those for time money
were higher than last week. Both rates
were materially lower than a year ago.
Building and engineering projects,
and the activity of steel mills for the
period ended July 10, showed market
gains over the week ended July IL. AS
compared with a similar period in 1929,
both indicators registered declines.
Bank loans and discounts and the
prices of leading stocks for the week
ended July 26, 1880, recorded increases
over the week ended July %, 1928, two
years ago.
In Canada the latest government
crop report, for July "a, indicates a
general improvement in Western crop
conditions over the previous week,
owing to widespread rains and more
moderate temperatures. The Manitoba
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
LOWEST 1890 MARKS
ABOVE 1923 TRADE

The lowest level of trade activity in
1880 is above the figures established in
January 1928, which was period Of
an analysis published in the August
edition of the Kissel, Kinnicutt Review.
The recovery of the bond market is
proving conditions following depres-
proving conditions following q depres-
sion and such recovery is now clearly
in evidence, the Review says.
Low commodity prices are attributed
primarily to the shrpnken world supply
of bank credit and currency, providing
the increased number of commodity
transactions which must occur If COM
modify prices are to be maintained.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03

va OAAS NNS@ 49,
serve act.
Many are the
demands that have
been made for the
opening of this
question, with a
view of elininat-
ing some provf-
siors that have
been found want
ing and adding to
the power Of the
F e d e raj Reserve
Board, while fur
Their equalizing ap-
parent advantages
in favor of State
banks so that the
n a t i on al banks
m a " h q Va 4
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
NEW YORK COTTON

NEW YORK, August 2 (H1.-Futures
closed steady. 3 to points higher;
October, 129oa12.92: December, 1909;
January, 1316a13.17. New contracts:
October, I2.64a12.65; December, l2.83a
1894; January. 1892; March, 1911;
Nav, 1925. Spot steady; niddling,
1895. F,ipg aHM
Cotton range.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
WITH BANKING FIRM.

J. Hampton Baumgartner. formerly
associated with Aamnleton q co.
Brinkmann, Lewis a. Co., Investment
bankers, Of Baltimore.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03

that some very important changes will
be made even with these suggestions.
The Federal Reserve Act has worked
wonderfully and any change should be
we'll considered.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-03
Business News
IN
Retrospect
PROPOSED Revision Of the
Federal Reserve Act Is
One Of the Most Import
ant Matters to Come Be-
fore the Next Session of
Congress.
BY 1. A. FLEMING.

One of the most important. If not
the matter of the greatest weight, that
will come before the next session of
Congress will be the proposed revision
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-01

Statue Of Frederick Wilhelm UOW Steu-
ben, nOsO 10 front OF the German Or
phOn Asylum, but Which formerly stood
IN the grounds Of the SchWetzen Park.
other tOasts and prominent speakers. During
the banquet, as well as throughout the whole
evening" there win be singing by the Saenger-
bund, who viii be present in q body. num-
Der Of representatives to the Brewers Associa-
ton convention are also expected to be present
at the banquet At the conclusion Of the sup
per there will be dancing In the pavilion and
about as many other ways of having . good
time as there are various tastes.
The present board Of officers consists Of the
following: Honorary president, Simon Wolf;
president, John Hockemeyer; vice-president,
Charles Graf; secretary, r. Springsguth;
treasurer. c. Rupert; firSt target master, @.
Ebel second target master, J. J. Appich; king.
J. J. Appich; marshal Henry Buscher; direc-
tors, w. HelMuth, J. L. Vogt, Charles Schroeb.
George j. Bessler, Carl Mueller, Simon Wolf,
George ]. Seunerie Frank Schwartz, H. Kron-
heimer."
IN the next issue The Star tells US:
Liquids of all sorts flowed in abundance
last night at the Schuetzen Park on the Occa-
sion of the celebration Of the twenty fifth an
niversary Of the organization Of the Washing
ton Schuetzen Verein. There was beer, to be-
gin with, then plenty Of rain. then lots of
Rhentsh wine so dear 70 the German palate,
and finally, more rain. There was no Lack Of
moisture, both for the inner and outer man,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-01
THE BANQUET.

IA the main hal, to which q number Of prOmi-
nent people have been invited. Commissioners
Douglass and Hine win be present and Mr..
Douglass ID TO respond TO the toast Of this city
end It's government Mr.. Beriah wilkins win
answer for the Germans from O newspaper
Stamdpotnk and there win be any number Of
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-01

nnAS. L. rSaymOuU f1OrCOQ, VINO kindly loaned
the picture Of the house which accompanies
this article
One can get an idea Of the extensiveness OF
the grounds around this old home when he n
told that the winding road that led up to the
old house started at the northeast corner Of
Park road and Georgia avenue, where there
was gate house. 1t was really q country gentle
mans home
Farther up on Georgia avenue, q little north
and 10 the rear Of the engine house, lived a
man named Dixon about the period Of the
War Of 1872
Mr.. Edwin Yeabower and his sister Annie
reside here, and the former told the writer q
few days ago that the original frame building
still standing and to the rear of the brick
weatherboarded with heavy pine boards, was
built by Dixon, and that later it was owned and
occupied by John A. Wineberger, the black
smith. and his father and that the former sold
the property about Civil War time to his father.
John Yeabower, right after the brick building
was erected.
The property fronting Georgia avenue has
been sold OF and built upon, and the land 60
the sONth is occupied BY Q public school, Ieav.
ing tine house % henamaed I'm that It eanmOk n
seen from Georgia avenue.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-23
STOCKS IN UPTURN
AS BUYING GAINS
Pool Activity Aids Continual
ton of Rally Begun.
Yesterday.
BY STANLEY w. PRENOsIL,
Associated Press Financial Editor.

NEW YORK, January 23.-For the
first time this year the stock market
today showed strong indications OF
breaking out Of the narrow trading
area within which it has been fiuctu-
ating on the upside. The Improvement
in speculative sentiment, which led to a
resumption of pool activities in many
issues, was based on merger runors.
predictions that steel operations would
De stepped up to 80 per cent of capac-
1ty before March / and reports that
powerful speculative interests were back
in the market with large buying orders,
The disappointment shown by the
failure OF the Bank of England to re,
duce its discount rate was short-lived
as the market quickly gathered head,
way under the leadership of u. 8. Stee
common, which crossed 173 for gain
OF about 3 points. Bethlehem recorded
similar gain in expectation Of a ia,
vorable annual report after the clost
OF today's market, and brisk demand
also was apparent for Superior and Va,
nadium Steels, in which special devek
opments are reported to be pending.
Another favorable factor was an I'M;
confirmed rumor that william Fox had
agreed with counsel for minority stoch
interests and creditors to accpet q trlisI
teeship for his theatrical enterprises OF,
the withdrawal of receivership proceed,
tpgs. Fox Film, in which a large shori
interest had been built UP, was marked
up points to 273z, or about IL points
above the low established earlier In tbs
month.
Strength Of the advance Rumely
issues, the preferred soaring more thar
points and the common 8, was based
on unconfirmed reports that merger
negotiations we're pending with ALI
Chalmers, j. I. Case, international
Harvester and the Oliver Farm Imple.
ment issues advanced 2 to S points.
Afr Reduction, International Conbus.
ton preferred, Underwood, Elliott Fish.
er, Eastman Kodak and New York 4
Harlem sold 4 to points higher, and
among the many issues to show gain
OF points or more were Canadian Pa.
cine. Norfolk d. Southern, Pittsburgh
d West Virginia, Colorado Fuel, Repub,
lie Steel, Ludlum Steel Childs, Loost
Wiles, National Tea, Checker Cab ana
Electric Autolite.
Call money again dropped from AZ
to 4 per cent, with the demand ligh1
and the supply Of funds plentiful.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-23

$50 to 8.25; fair to medium, 675 to
7,25; plain to fair $50 to $50; common
TO plain, 400 to 500.
Heifers-Choice to prime, none; good
to choice, 1000 to HOO; medium to
good, 800 to 1000; fair to medium, 500
70 500; plain to fair, TOO toN8.00; COM
mon to plain, 600 to TOO.
Fresh cows and springers, 5000 to
Sheep and lambS-Receipts, so head;
ngnt supply, market steady; sheep, 200
70 500; lambs, TOO to $500.
Hogs-Receipts, 400 head; light sup
ply; market lower; lights, 10.75 to IL 90;
neavles, 1075 to IL 90; medium, IL 90
70 II .25; roughs, 7.50 to q. 80; light pigs,
1880 to 1880: pigs, 1885 to 1890.
CalVeS-Receipts so head; light SUD-
Ply; market steady. Calves, TOO to
Hay and Grain Prices.
Wheat-No. 2 red Winter, spot,
!25h; No. 2 red Winter, garlicky, spot,
l.2414; January, l.24k; February,
las; No. garlicky, no quotations.
Corn-No. domestic. yellow, new,
LOS; cob corn, new, 4.65ai.7O.
Oats-No. 2 white domestic, spot
SSa561a No. white domestic, spot,
54a541a.
Rye-Nearby coal 90.
Hay-Receipts, 10 tons Season for old
nay Is about over. A little new crop Is
arriving, but hardly enough upon which
70 establish quotations by grades,
where IN good order new hay sells at
from l4.OOa1T.00 per ton, according TO
It's quality and condition.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-23

Electric refrigerators are Just being
&stroduced into homes In Denmark.