davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-10-11
inanca Market Ne1Us Stocks Bonds Commodities and Comment
Indications of Comeback Is
Seen in Business

tracts awarded actually increased,
in spite Of the fact that they
usually decrease In that month
The volume Of contemplated new
construction reported. also In
creased. Residential building con-
tracts were larger than in any
month since last May.
The only employment figures
we have for September are those
for New York State factories.
These are usually quite repre-
sentative, however, and 1t Is sig
nificant to find them showing
the first increase in q long while.
Employment In New York in
creased about 2 per cent. The
usual September increase Is only
about / per cent. Therefore, the
gain last month was real, and 1t
may mark a change In trend.
Retailers Doing Better
Accordingly, it is logica! enough
to find evidences that retail trade
is not doing so poorly. We read
that average daily department
store sales in September were II
per cent below q year ago, but
let US not forget that this Is bet
ter than in August. The fact is
that average daily department
store sales last month were 6
per cent better than in the
month before. They made the
best showing for the year to
date.
Finally, the September figures
just issued by the Cotton Textile
Merchants Association show de.
cided improvement. Sales of
cloth ran fer ahead Of shipments,
so that untitled orders increased
considerably. Shipments also ex.
ceeded production, so that stocks
were reduced. Cotton cloth prices
have been holding much setter
than raw cotton.
These things do not mean that
general business recovery has
begun. but they do show that
business conditions are not all
bad. Caution and conservatism
are still warranted, but not pes
SimiSm.
The Washington times., 1930-10-11
Of
F AILU RE s /
BLAMED
Suspension Of Brokers, While
Rare, Not Unlocked for Due
to Depression lust Passed
By LESLIE GOULD ,

AS~S~~~~~-
The New York Stock Exchange
has 1,346 members, representing
$50 firms. These firms are To-
Gated in all parts Of the country.
The New York Curb Exchange
has 1850 members. They rep.
resent $50 firms, many Of them
Stock Exchange houses.
Since last fall the Stock Elk.
change and Curb have been sail
ing through one Of the Severest
declines in stock values in the
history Of security trading.
In this period five Stock Elk
change houses and about the
same number Of Curb firms have
closed their doors as inSolvent. A
few others, although solvent,
have gone out Of business.
The Importance Of these fail
ureS has been magnified out Of
all proportion.
Two Bucked Trend
Two of the Stock Exchange
houses that closed their doors
were relatively small. One was
closed by the private operations
of one of the partners. The other
two were fairly large, but their
failures too were no reflection on
the financial stability Of Wall
Street and the Exchange. They
injured themselves by attempting
to support in a declining market
stocks in which they and their
customers were interested. They
each had sponsored an invest
ment trust, neither Of which
Jared well.
If these firms had sailed with
the wind instead of tito it they
would still be in business at the
old stands. There is still q
chance they will be able to
straighten out their tangled af.
fairs. II they are successful,
The Curb Exchange houses
were comparatively small and un-
important.
Considered In this light the
record to date for Wall Street is
good. It speaks well for the
Streets financial Soundness.
In other stock market crashes
and periods Of business depreS-
sion, brokerage houses and banks
have fallen like flies.
Banks Strong
Now, thanks to the Federal re-
serve system. the nations banks,
taken as a whole, are in an excel
lent position. Even the Federal
reserves severest critics take
their hats off to its success along
this line.
AS for general business, every.
cne seems agreed about the worst
has been seen.
AS was pointed out in this
column several weeks ago, the
stock market has lost its ba-
rometic powesr, temporarily at
least. The uprush Of stock prices
last summer certainly did not
foretell the business slump Of this
year.
The Washington times., 1930-10-11
ChiLds Sales Drop
IIT in SeDten1ber

ChildS Company reported sales
for September of $2,135,571,
against $2,40O,108 in September,
1929. In the nine months ended
September 80, sales totaled $19,-
939, 1878, against $20,861, ,03O, a de-
crease of IL per cent from the
like 1929 period.
L. E. Buswell, treasurer Of the
company, reported to the di-
rectors:
ITO meet an anticipated In
crease i'm our business during
the fourth quarter we are en-
larging three Of our New York
restaurants with spacious an
nexes and have leased two ad'
joining buildings on William
st. for the opening Of n new
unit"
The Washington times., 1930-10-11
PARAMOUNT NET
PROFIT SETS 7
RECORD
Earnings Amounting to $4.59
Reported by Amusement
Firm for New High Mark

Paramount Publix Corporation
today estimates its consolidated
net profits, which include earn
ings Of subsidiary companies,
after all charges and taxes, for
the nine months ending Septem-
Der 81, 1880, to be $13,541, 900,
which amounts to $4.59 per share
on 2,948,3 shares, the average
number outstanding during the
period. This estimated profit is
80 per cent ahead of $9,731, 900,
the amount reported for the cor
responding period Of 1929 and
creates a new high record for
this period in the history Of the
company.
Profits for the three months
ending September q are esti-
mated, after all charges and
taxes, at SIS, ,1O0, 900, which amounts
to $3.50 per share on 3,1S0,636
shares outstanding during the
quarter. This profit is II per
cent ahead of $4,601 900, the
amount reported for the same
quarter of 1929 and also creates
a new high record for this period
in the history Of the company.
NATIONAL TILE CO.-Nine
months ended September 80 net
earnings $110,26O, or 81 cents
share, on the common stock,
against $43O.538, or 1888 a share,
in the preceding years.
WHITE ROCK MINERAL
SPRING COMPANY. - Quarter
ended September 80 net profit
1925 .O83. or $1.39 a share, against
$305 1895, or $1.O8 a share, in the
like 1929 quarter.
EMPIRE TITLE AND MORT.
GAGE COMPANY-Nine> months
ended September 30 net profit
$1O0,324. or $10.03 a share, against
1898 a share in the like 1929
period.
PURITY BAKERIES CORP
Forty weeks ended October 4,
net earnings $3.299. .4O4, or $4.1O
a share on 805, $3.50 common
shares, against $4,261, BOG, or IS 90
a share, in the like 1929 period.
CANADA NORTH'N PWR. co.
August net income, $167 ,6O3,
against $171,659 in August, 1929.
Eight months ended August 81,
net income $1,424,455, against
$1.441. .401 in the like 1929 period.
OREGON.WASHTNGTON WAT.
SER.-Eight months ended August
81, gross after expenses and taxes
$280,549, against $266, $50 in the
like 1929 period.
A. p. w. PAPER CO.-Year
ended June 80, net profit S213,349,
against $s5,eo9 in the preceding
year.
AMERICAN CHICLE co.
Quarter ended September 30, net
profit $616,077, against $584.7
in the like 1929 quarter. Nine
months ended September 80, net
profit $1,697. All, against $685.
896 in the like 1929 period.
NTL CEMENT CO.-Quarter
ended September 40, net income
1895, ,003, or 1920 a share Qo
633,452 common shares, against
$1,360, 1856, or 1920 a share on
$1,000 shares in the like 1929
quarter.
The Washington times., 1930-10-11
Allen Industries
Net Earnings DOIUHl

Allen Industries. Inc, for the
nine months ended September 80,
1880. reports net earnings of
$156,573 after all charges includ-
ing Federal taxes.
The earnings are equivalent to
4.44 times dividend requirements
on it's outstanding preference
stock and to $1.82 per share on
it's common stock, after allowing
for preference dividend. These
figures compare with net earn
ings of $187, ,0O7 for the first nine
months Of 1929, equivalent to
4.81 times preference dividend
requirements and 1924 per share
on the common stock,
The Washington times., 1930-10-11
ReichSb0Nk Boosts
Rate: Stocks SLUMP

BERLIN, Oct. 1C.-The Reichs-
bank today increased it's discount
rate to S from I per cent.
The BoerSe suffered losses as a
result Of the unexpected increase
in the bank rate. ReichSbank
shares were off 9 points; I. G.
Farben off 6, and Salzdefurth
off Is. Bonds were weak. Far
beninduStrie reported business in
the third quarter on the average
unchanged except for lower prices
on sore proaUctA.
The Washington times., 1930-10-11
Wall Street
Hears:

That . good many stop loss
orders have been touched off In
Bethlehem Steel (BS) as the
stock receded. r
That Remington Rand (RR)
is being bought on the scale
down.
That . good deal Of odd lot
buying has been coming into
American Tobacco (ATB).
J. That Best (BST) will net BE-
tween $3.50 and S. . share this
year.
That Air Reduction (ADN) Is
q good trading medium.
That Consolidated Gas (GJ
is an attractive purchase At its
present price.
That corporations which last
year put their surplus funds in
to the call money market are
now buying bonds.
The Washington times., 1930-10-11
Youngstown. Tube
In 5 NeLU Lawsuits

YOUNGSTOWN. Oct. 11.-Five
additional lawsuits representing
so plaintiffs who own q total of
1S,473 Sh ares Of Youngstown
Sheet & Tube Co. common stock
were filed Wednesday in the
Mahoning County Common Pleas
Court. to restrain merger of
company with the Bethlehem
Steel Corp. AS in the suits filed
earlier, the court is asked to
establish the cash value of
shares voted in opposition to
the merger at $3.50 a share.
The Washington times., 1930-10-11
Southern RGiIDGy
Income Decreases

Southern Railway System re-
ports gross income Of $4,018,O41
in the fourth week Of September,
a decrease Of $891 ISL from the
same week last year. In the en-
tire month gross totaled $12,514,-
224, q decrease of So, ,48S, ,243.
From january to September
80 gross income aggregated $119.-
390,619, q decline Of $23, ,118
from the like period a year ago.
The Washington times., 1930-10-11
Decline Disclosed
In Steel Operations

PITTSBURGH, Oct. 11.-Opera-
tions Of the United States Steel
Corporation last week are placed
at between 81 per cent and 81 per
cent OF capacity. compared with
% the week before and almost 66
two weeks ago. In the same period
last year operations were 80 per
cent of capacity.
The Washington times., 1930-10-11
Patterson BOrrOUs
S9,7I2,OOO for Water

A banking syndicate headed by
the First National Bank of New
York were the successful bidders
for an issue of $4,000, 900 of bonds
of the city of Paterson. N. ].
The Bankers Co. was the sue.
cesSful bidder for the $l.1i2. .vO
Of short-term notes, issued collec.
lively by the cities Of PasSaic.
Paterson and Clifton.
The Washington times., 1930-10-11
GOOD STOCKS TO PROVIDE
PROFIT, SPECTATOR SAYS
. End of Slump Not Yet Seen, He Declares;
Points to Deals Which May Prove
Profitable to Trading Element
Nv THE SPECTATOR

With tremendous the decline yesterday
LIQUIDATION Of accounts undoubtedly TOOK
place Although majority stn seem 70 think that the
revision Of yet been halted am
inclined to that bit Of sunlight is beginning to seep
through. BY that don't that all stocks are buys
right now The probably will react still further but
those who looking for investment and who can hoo
the face Of another possible ten or
fifteen point averages, would do well to glance
list select the shares Of repuab companies
selling levels that give good returns
AS far the market whole concerned think raes
get rid Of the grade OF stocks anu
the money purchase hghgTade securities The
recovery which set in during the last hour YESTERDAY VIII
probably carry opening day, but am AFRAID
that profit taking is likely to offset buying In the
later dealings. look for an irregular closing with
slightly softer tone.
The Washington times., 1930-10-11
Foster Wheeler to
Vote on Purchase

Chances that the Foster
Wheeler Corp. will take over the
International Combustion En-
cheering Corp. are favorable, &C
cording to Louis B. Nutting, presi'
dent of Foster Wheeler.
The entire matter will be
placed before the directors at the
regular meeting later this month
or there may be a special meet
ing called to consider the pro-
poSaA
The Washington times., 1930-10-11
BY LEWIS HANEY
Director, New York Univerpity Bu- ?
reau Of Business Research and
Former EoOnOmiSt Of Federal
Trade Commission


Former EoOnOmist Of Federal
Trade Commission
At times, when the stock mar.
ket breaks and q brokerage
house fails, the danger Of undue
pessimism becomes very real.
Especially is there danger Of pes
simism concerning underlying
business conditions.
We need to be reminded that
for several years the stock mar
ket ran much ahead Of business
conditions. It ceased to be q
sound business barometer in 1927.
Now, when the market is paying
for past exceSSes, we should not
pay too much attention to its as
business barometer.
It went too far up. Now, it may
60 too far down. >
Blue Chips Still High
We should remember that the
blue chips" have not been really
hquidated. Their prices were OBJ
Stinately held up. Those who
held them apparently thought
they could get away with 1t. AL
this was out Of line with business.
Now, that these high fliers are
coming down, we need not con-
clude that business is getting
worse.
Fortunately, few Of us Of late
have been deceived by "optimis-
tic" talk. So, probably. "the pub
lie" has not been hurt much.
Those who put the stocks up and
held them up are the ones who
are now suffering.
But business is certainly not
declining with the stock market.
In fact, there have recently ap-
peared several really substantial
indications Of strength in the
business situation. These consist
Of gains in building activity, fac
tory employment, department
store sales, and in cotton textiles.
AS to building, we find that, in
September. the construction con-
The Washington times., 1930-10-11
Emery UphOLds
LObbu Privileges

NEW YORK, Oct. 1.-THE priv
ilege Of lobbying for and against
legislation was upheld as a pri-
vate right and a public duty by
James A. Emery, general counsel
for the National Association Of
Manufacturers, in an address at
the Semi-annual conference Of the
associations industrial council.
The Washington times., 1930-10-11
Sally FrOcks Sales
Gain in SeDtembeT

, Sally FrockS, Incorporated, re-
ported today sales for September
Of $414,564 against $685. in Sep.
tember. 1929, In the nine months
ended September 80, sales totaled
$3,4Ss, 1886 against $2,594,61S in the
like 1929 period.
The Washington times., 1930-10-11

Total sales of 6,285, 900 shar
were around the largest figur $
of the year. Most Of the activity
was on the down side. and, as c
pointed out above. this is urs
doubtedly an indication tina
there was much selling Of weak
ened accounts. / look to see an
other big day on the decline be
fore the reaction really is fin
~ished.
Ugly rumors continued to make
their appearance in various quar-"
ters. wouldn't pay any after.
tion to such reports. I am tol J
on good authority that no mem
ber Of the New York Stock Elk
change is in danger at the pres
ent time.
The untitled tonnage report
was about in line with expecta-
; tions. AS a matter Of fact it
was the decline Of slightly more
than $4,000 tons was a pit less
than had been looked for.
It is quite possible, however,
that the let down in operations
during the latter part Of Septem-
Der accounted for some Of the
untitled orders on the books Of
the corporation as Of September
80. Steel directors meet on Tues
day, and there is still talk Of a
81 extra dividend.
still think that Steel is q buy
under $50 q share, even though
it may react 5 or 10 points more.
I am speaking of Steel in the in
VeStment sense and not for o
turn. It is quite probable that
for the turn, money could be
made in Steel on the short side.
Inflated Prices
Looking over the Evening
Journals list of 81 Representative
stocks and noting the severe de-
clines from the peak levels Of
1923, .one gets some conception
Of just how terrific the initiation
Of most securities was. Stock
paying So and 81 in dividends,
> and even some that weren't pay.
ing dividends were selling above
5000 and $500 a share. It Is to
be hoped that in the present sit
uation the reverse doesn't occur
The Washington times., 1930-10-11
and prices become too deflated.

and prices become too detIateo.
An interesting item was pointed
out yesterday in the fact that
there isn't an active stock selling
at $500 a share or better. And
there are few of the leaders sell
ing above 5000 a share.
American Telephone
Selling under 5000 share,
American Telephone is yielding
better than AZ per cent. Con-
sidering class of this stock, which
is without question the highest
type Of capital or common stock
listed on the big board. Tele-
phone is q first rate investment
at current levels. And don't for
get that over q period Of years
the return on Telephone is en-
hanced by the distribution OF
valuable rights.
In declaring that the market
will close irregular. with a prob
able soft tone, I am basing my
opinion on past performances.
With a two-day holiday, particu-
Iarly in times such as these trad.
ers are anxious to be free Of
speculative commitments over the
holiday. This factor will prob
ably offset earlier buying opera
tionS.
Here and There
What has become Of the trader
who wasn't satisfied to play" q
stock for five or ten points.
Twenty points at least" he used
to say. Oh, well, times do change.
Radio Keith Orpheum is be-
ing recommended in some quar-.
tiers. It does look as though it
might be good for a turn. And
while on the subject Of amuse-
ment stocks LoewS appears to be
cheap at present prices. Some Of
the latest selling is said to have
been done in order to establish
income tax losses.
One market student who is in
clined to be beariSh points out
that If business is around 1921
levels, why shouldn't the stock
market get down around those
figures. Some people are never
satisfied.
The Washington times., 1930-10-11

'october 1 figures revised.
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1930-11-05
JUNIOR SHOW TO SEE
HOTTEST COMPETITION

Fourth club members who are fit
ting livestock or poultry for the Min
nesota Junior Livestock Show at
South st. Paul, November 10 to 13,
should be sure to put in their best
ticks during the few days remaining,
declares w. E. Morris, livestock spe-
cialist, University Farm, general
manager of the show. Competition
for blue ribbons and other awards
will be hotter than ever before, Mr..
Morris says. This fact became evid-
ent when the official entry list was
completed and totalled, showing that
500 county winners will exhibit their
prize animals and fowls at the COM
ing show. This is an increase of
nearly 10 per cent over the 739 who
exhibited last year.
Because of the large increase in
the number of animals and fowls to
be shown this year, it is expected that
the proceeds of the annual auction
sale, at which all entries will be sold,
will far exceed the $4,000 total piled
up last year. In addition to buying
representatives from packing houses,
railroads, banks and other business
and commercial establishments of the
Twin Cities, many bidders will be
present this year from commercial
clubs, Kiwanis and Rotary clubs and
other similar organizations through
out the state.
The entertainment program of the
Junior Show will be greatly enlarged
this year through the courtesy of the
South ST.. Paul Commercial Club,
which will sponsor a Junior Show
Roundup" on Tuesday evening, with
Governor Theodore Christianson as
the principal speaker. F GLOWING
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1930-11-05
EQUALIZE
BARN TEMPERATURES

Agricultural engineers of the Uni
versity of Minnesota are challenging
Mark Twain's famous statement that
Everybody talks a great deal about
the weather, but no one ever does
anything about it." H. B. White, C.
L. Berggren and L. w. Neubauer,
members of the farm buildings Sec
ton at University Farm, maintain
that they are actually "doing some
thing about the weather" in their in
vestigations on barn ventilation,
which are demonstrating that COM
Portable housing conditions for farm
animals may be maintained even in
the most extreme weather.
During November, December and
January of the past winter, studies
were made Of temperature and humi-
dity in two barns Of similar eonstruc-
ton, one of which was equipped with
a gravity ventilating system and the
other with an electric fan system.
It was found that both systems main
tanned good conditions inside the
barns throughout the test. The cleo
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1930-11-05
GOOD HUSKING TAKES ~-5
WISE USE OF MACHINE

Intelligent handling of the mechan-
ical corn picker is one of the biggest
essentials for doing satisfactory
job of husking, according to A. j.
Schwantes, farm machinery special
list, University Farm. Because of
the many different conditions of soil,
weather and crop under which the
corn picker is required to work, it is
essential that the operator become
thoroughly familiar with his machine,
Mr.. Schwantes says. He must under
stand the various adjustments and be
able to make them according to the
requirements imposed.
The rate of travel in the field is
important, especially on machines
driven from a bull wheel. With
changes in the rate of travel, the
speed at which the mechanism is
driven necessarily changes also, and
husking cannot be done properly
when this is too uneven. On machines
driven with a power take off, it is
easier to maintain uniform rate of
operating and the picking and husk-
ing mechanism. The correct rate Of
travel in the field, will depend some
what on yields. If a high rate is
maintained in heavy cron, it is like
ly that the normal capacity of the
picker will be exceeded. For yields
of so or 90 bushels per acre, a speed
of from two and a quarter to two and
a half miles per hour should be about
right.
Some of the more important ad
justments have to do with the ten
sions of springs holding the swapping
rolls and the husking rolls should be
as close as good picking will permit.
If this space is too, wide, or the ten
sion on the spring too loose, there
will be tendency for ears to slip
through and there will also be some
Smelling. The tension on the husk-
ing rolls should vary with the size of
the ears. Large ears may be husk-
ed with u looser tension than small
ears. On machines having a device
to guide the ears parallel with the
rolls, it is important to set this guide
so that the ears will be held against
the husking rolls with just enough
pressure to do a good job of husking
without excessive Smelling. The pos
sibilities of doing good job of
husking with minimum of Smelling,
of course, depends somewhat on the
condition OF the corn, Mr.. Schwantes
stys.
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1930-11-05
Business houses i'm Red.
wood Falls will close at
1880 A. NJ, ON Arrais-
tice Fay, November H
Residents are asked to
govern their purchases
accordingly.
TAKE COD LIVER OIL
TO WARD OFF COLDS
accordingl!

Having plenty of Vitamin A in
the winter food supply helps to pre-
vent infection of eyes, sinuses, air
passages and lungs, according to
Miss Inez Hobart, extension special
list in nutrition, University Farm. ut
is true" Miss Hobart says, chat the
body has ability to store some OF
Vitamin A for future needs, but the
demand for is high during the first
cold months. To keep up bodily re-,
sistance this fall and winter, every
one needs to keep a generous supply
of this "anti-infective' vitamin in
their diet. = -.
Butter, cream dairy products,
eggs, liver, green leafy vegetables
and cod liver oil are our richest
sources of Vitamin A. During the
winter when the cows and chickens
green food supply is 50 limited tha-
vitamin content IN dairy products and
eggs rs somewhat lowered. It then
becomes very essential to increase the
supply Of green leafy vegetables in
the diet and to supplement the diet
with daily use of cod liver oil.