davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-09-27
PEACH GROWERS
SOLVE EXCESS

The cling peach pack Is prac.
tically completed and the curtail-
ment plan has been successful.
it was announced today. With
more than SO per cent of the
pack made and a record, the
total for California will not ex-
ceed 13,1S0,000 cases. This in
cludes not less than s35, 900 cases
Of peaches canned for remanu-
acturing into fruits for salad.
Thus, the pack available for con-
sumption as canned cling peaches
will not exceed 12,645, 900 cases.
Carefully compiled statistics by
the Giannini Foundation Of the
University of California indicated
that about 100000 cases could
be marketed in an orderly man
ner and that any serious excess
quantity would jeopardize both
grower and canner. A survey
made in June indicated crop
sufficient to pack in excess of
10000 cases.
Through the cling peach con-
troll committee, Gamers and grow
ers united in curtailment. The
plan provided that the yncanned
surplus of No. fruit De pur.
chased by the Gamers at the go
ing commercial price for No. /
fruit, which was established at
$40 per ton delivered at the
receiving station or $13 unpicked
on the orchard.
While the original agreement
provided that fund of $1.750,0O0
be raised by Northern and Gen.
tral California commercial can
ners and cooperative Gamers in
conjunction with their growers
for the purchase of this surplus
of No. fruit, it became evident
that the fund would not oe suffi-
cient and the industry raised an
additional $375,000 to complete
the job. Gamers representing 95
per cent of the packing capacity
of the State participated in the
curtailment. A total of between
So and $3.50 in cash was paid
on every ton Of fruit packed
by each Gamer in the plan for
the purpose of creating the fund
Roughly, 145, 900 tons were pur.
chased by the committee, thus
Stabilizing the market for all
growers.
One outstanding development
of this seasons pack was the poor
showing made by the Tuscan va
riety of cling peaches. Growing
conditions, in practically all parts
IF the State were ideal and the
Midsummer and Phillips varieties
developed a gross tonnage ma.
terially in excess Of the survey
figures.
The Washington times., 1930-09-27
PUBLIC works
AID BUILDING

A large volume of public work
proposals featured activity in the
nations heavy construction and
engineering field during the past
week. Totaling $20,907, 900 for
the period. this division Of en-
gineering construction accounted
for almost half Of the weeks
total and showed a major portion
of jobs were for projected water
works and sewers. All classes,
except highways, were valued at
$46,51O.000, which compares with
$33 800, 900 in the preceding week
and $166, 100000 in the CORE
spending week last year, the Nc
Graw-Hill Construction Daily re-
ports.
Industrial buildings, with S.
$50, 1000. were ahead of the week
before and last year. School build
ing plans, valued at $6,790, 900,
also gained. Apartment houses
and hotels (minimum $50, ,O00)
took Sails, 900: commercial struc.
lures. $5,395. 900; hospitals. ST.
$4,000, and unclassified projects,
$3,793, 900.
Pasadena, Calf, has announced
plans for a $1O,00O,00 dam at
the San Gabriel Canyon. Be-
tween $2,500,00O and $4,000, 900
will be spent in the proposed
construction Of paper pulp mill
in Colorado.
The Washington times., 1930-09-27

Just a month ago attention to
the investment possibilities In the
bond market was called in these
columns. Since that time the
bonds have moved steadily for
ward into new high ground for
this year. Stocks have sold 'off,
losing almost entirely their gains
of the last few months.
The average bond price is now
$97.64, a new high for 1880, and
is gradually approaching the high
level Of $99.48 reached In Janu-
ary of 1928, Bonds touched their
low point Of $91.76 in October,
Just ebfore the stock crash last
year.
The average industrial stock
price is now down to $217.75,
which compares with the low
point of $211.84 reached this year
in June. The high point for
this year was $294.07. In the
crash of last fall, the average
industrial price broke to $l98.69,
while the all-time high price Of
$381.17 was made a year ago.
Just how the investor in bonds
on August 20 has made out in
comparison with the stock buyer
on that date is shown in the fol-
lowing tables.
The man who put his money
in bonds certainly has profited
the most: gains have been rela-
lively small, but in comparison
to the 50, So and 81 and more
losses in stocks loom large. The
investor in the New York trac.
ton bonds has even Jared better
than the buyer of the stocks,
although both have had quite
sharp advances due to special
developments.
The buyer Of Western Union
common a month ago has q loss
of $13 share. while the bond
buyer has a small profit. IN
only one case-Warner Brothers
The Washington times., 1930-09-27
BANKER s T { s
SAVINGS GAIN

QUEBEC, Sept. 27.-Addressing
the members Of the Savings Bank
Association Of New York here,
Frank H. Sisson, vice president of
the Guaranty Trust Company, pre-
dicted that the large increases in
deposits shown by savings banks
during the past few months would
continue at least until the general
business prosperity returns and
possibly for some time after.
In commenting on the decline OF
savings banks deposits last year,
Mr.. SisSons advanced the theory
that the manner Of saving money
had altered in one way or another.
Some Of the savings bank deposi.
tors. instead of carrying their
shares in the form of bank bal
anceS, had converted them into
other forms. One Of them was GER
tainly the stock market.
The Washington times., 1930-09-27
DEATHS CAUSE
SPECULATION |
ON FUTURE. |
Western Maryland Situation
Causes Worry Among
Other Rails; Future Doubtful

The Western Maryland Railway
Is placed in an extraordinary
position in that it is left without
an operating official ranking as
high as vice president, due to
the deaths Of Maxwell c. Byers
and Dudley c. Gray. The only
surviving official with rank Of
vice president Is George p. Bagby.
who is also general solicitor and
head of the legal department.
Mr.. Bagby automatically becomes
the senior officer in charge Of
the railroad until action is taken
by the board of directors to fill
the vacancy in the presidency.
1t is believed that prompt steps
win be taken to provide for the
emergency that has arisen and
that an initial move in that direc-
ton win occur at the meeting
Of the board on Monday.
Uncertain Independent"
The uncertainty as to how long
the Western Maryland will re-
main an Independently operated
railroad, however, appears to
complicate the situation.
The Baltimore and Ohio stands
as the largest stockholder. hav-
ing supplanted the Rockefeller
interests through the purchase
several years ago Of nearly all the
first preferred stock and through
tn ownership Of other voting
shares. giving it more than .
a per cent interest, or virtual
working control.
Should the Baltimore and Ohio
divest itself Of its ownership Of
Western Maryland stock by jan
uary as ordered by the interstate
Commerce Commission and con-
troll be assumed by another large
system for the purpose Of con-
solidation this may mean that
any arrangement to fill vacancy
in the presidency would be only
temporary.
b. and o. Interest
There Is, however, q chance
that the order Of the commission
may be further extended and the
interest Of the Baltimore and
Ohio in the smaller railroad re-
main undiSturbed for an inde-
finite period or until the diff
culties standing in the way Of
railroad consultations in general
are adjusted.
An extension over q period Of
years Of the time limit in which
the Baltimore and Ohio must
withdraw from the western Mary
land would not be without prece-
dent, as permission was granted
that system to extend the time
Of ownership Of stock Of the
Philadelphia and Reading Coal
and Iron Company for several
years, and the stock Is now
trusted in the interest Of the
railroad until an opportunity to
sell it to advantage is presented.
Thus it may be that the qules-
ton as to how the Western Mary
land will figure in the eastern
trunk line mergers may not be
permanently settled for an inde.
finite time. So far the Baltimore
and Ohio had not interfered .r
the management or operation of
the smaller company and has
not sought direct representation
on the board. All questions OF
policy evidently were left to the
Byers' management.
The Washington times., 1930-09-27
Time Money Rates
LOHe8t Since 1915

The drop in time money rates
to "a per cent for six months
collateral has brought that rate
down to the lowest level reached
since November Is. Loans due on
January Is, next, have been ex-
tended to the unusually low rate
Of 21a per cent.
The current ease in the time
loan rates is attributed to the
statement issued recently by the
Federal Reserve Board in which
it guaranteed low money rates to
business and agriculture during
the autumn.
The Washington times., 1930-09-27
D. c. Gas PRICE
CUT PROTESTED

FALLS CHURCH. Va, Sept. a..
Gas dealers here are preparing
to raise an organized protest
against the large wholesale dealers
Of Washington and Alexandra
who lowered the price of gasoline
in the District of Columbia with
out lowering it in this region.
Recently these large dealers
went to the various local dealers
here and promised to give them
gas at the same price that they
furnished it to Washington re-
tailers providing each individual
gas station would handle but a
single brand Of gasoline.
Local dealers agreed to this and
tanks were taken out Of the
stations where there was more
than one brand carried.
On Wednesday prices were
lowered 2 cents per gallon IN
the District but no drop in the
prices were effective here. Inas-
much as a great many people
who live in Falls Church work
in Washington, they wait until
they cross the District line before
filling their gas tanks. Conse-
quently local gas stations have
already begun to feel the effect
of this reduction and plan to
make an organized appeal to the
various wholesalers.
PHILADELPHIA STOCKS
The Washington times., 1930-09-27
1ncal Market Ne1Ds Stocks Bonds Commodities and Comment
Wall Street
Hears:

That U. s. Pipe and Foundry
lCy has been doing better
than had been expected.
That National Cash Register
MGR will respond wen TO any
technical uptuFn.
That AnacOnda's (C) divi-
dend may be reduced further
before the end Of the year.
That the selling of Union
Carbide (UN) has been well ab-
sorbed.
That Liggett Myers LIMB
acted well during the selling
yesterday.
The Washington times., 1930-09-27
BALTIMORE LIVESTOCK

BALTIMORE. Sept. 27.--Cattle-Rs-
seeipts. 700 head. Market steady
stsers-Good to choice. $3.50 9s.be.
medium TO Eooo, sS.5oqs; fair to
medium. s55o9S50; plain to fair
s5Q5.5o; common to plain, s4.So9S.
Bulls-Good to choice. s5.7S9S; me-
dunn to good, SS.50@5.75; fair to me-
dium, s595.5o; plain to tair. &4:So85;
common to plain. S4445o. Cows--
Good to choice. $5G65o: medium TO
good. s4.So9S; fair to medium. $3.50
045o; plain to fair. &2.So03.6o; com:
mon to plain, t242.50. Heifers-Good
to choice, 1907; medium to good $3.50
6s; fair to medium. 350 $50: plain to
fair. $4.S095; common to plain. $40
$50. Fresh cows and SprinEsrs. $50
sheep and Lambs-Receipts. 900 head.
Market slow and steady. Sheep. SIG
Hors@Receipts. sco head. Market
higher. Lights. slo.1o@1O.3s; heavies.
roughs s70S: light pigs ss0s.2S; pigs
1925 Qaso. Ohio hogs, 10000 higher
than quotations.
Calves-Receipta 7s head. Market
steady. Calves, $5612
The Washington times., 1930-09-27
Reeser Sees Crude
Oil Sterilization

e. B. Reeser, president Of the
American Petroleum Institute and
head Of the Barnsdall Corporation,
believes that the crude oil situa-
ton is the strongest In years, from
the viewpoint of factual produc-
ton, because of the proration pro-
gram. The position Of refined
products also show improvement,
Mr.. ReeSer declared.
Recent reductions in gasoline
prices, he said, have eliminated
price rebates and commissions,
which is a move In the direction
of a stabilized petroleum industry.
The Washington times., 1930-09-27
SLUMP ENDING,
PREDICT Is
DAWES
Ambassador, Speaking IN
Belfast, Hopes for Early End
Of Worldwide Depression

BELFAST. Ireland, Sept. ~
Q.NS) Hopes for an early ter.
mination Of the worlds economic
depression we're expressed today
by United States Ambassador
Charles G. Dawes. who spoke at
a banquet at the city hall. ten.
dered him by the lord mayor.
Discussing the industrial slump
and its probable causes and dura-
ton, Ambassador Dawes con-
cluded:
MAY We not hope to see the
normal trend Of world business
resumed by summer or at least
by fall Of next year? Excep-
tiOnal local conditions in this
or that country may advance
or retard healing effects on
restoring the worlds business
confidence, but nothing is more
certain than the coming bust
ness recovery.
'The business fool In 1929
was he who had NO fear. The
fool now Is he who has no
hope"
Ambassador Dawes, among
other functions, placed a wreath
on the Belfast cenotaph and re-
viewed the Royal Fusiliers. He
is here as guest Of his wartime
friend, Gen. Sir Travers Clark.
The Washington times., 1930-09-27
CHICAGO LIVESTOCK

CHICAGO. Sept. 27 UN.s.).-Hogs-
Receipts, 5000; market, 10@15c lower.
Top S10.5o, bulk, $8.25@l0.4o; heavy
weight, $1o@1o.60: medium weight, 1855
@10.5O; light weight, $s.40@1o.10: light
lights, $9@s.65: packing sows. $7.z59
s75; pigs, $500. Holdovers, 5000.
CattIe-Receipts, 1000: market steady.
Calves: Receipts, 100; market steady.
Beef Steers: Good and choice, $1o.50@
yearIings $7612.60. Butcher Cattle:
Heifers $5@12: cows $40S: bulls. $50
8; calves. s1O.s0013: feeder steers. 50
%: stocker steers. $5.50@S; Stocker
cows and heifers, $4.5066.50.
Sheep-Reciepts, 6.000: market steady.
Medium and choice lambs. $76s: culls
and common, &4.5065.s0; yearlinEs IS
06.5A; common and choice ewes. $40
3,75; feeder lambs, $6nf.2S.
The Washington times., 1930-09-27
S. D. of N. J. Plant
On FiUe-DUu Week

The Standard Oil Company of
New Jersey today announced that
1000 workers at it's Bayonne, N. j.,
plant will start on a five-day week
basis next month, with each
Saturday off.
The Washington times., 1930-09-27
LOAD LINE APPROVED

The Shipping Board recon-
mended to the State Department
ratification of the international
Load Line Convention signed at
London on July 5.
The Washington times., 1930-09-27
FURTHER SELLING IS SEEM
BY MARKET EXPERT
Marginal Accounts, Hit by Heavy Selling, to
Cause Further Sales Today, Spectator
Believes; Wheat Hits Mart
Nv THE SPECTATOR

The market st the 0bOggan. Stocks cracked again
yesterday returned to the attack There
to be Ietup to the merCIess selling storm that has
shaken the market all week. Volume yesterday the
largest for single day since the June break rally seems
overdue but Ii too dangerous to try for today There
B likely to be selling due TO the impamen Of marginal
accounts Weakness in wheat continues to be unsetting
factor Stay until there clearer ndica
tions Of real buying.
The Washington times., 1930-09-27
BOndhOld PrOfits Up
In Last Month

Pictures-has the bond buyer lost
out.
The first table compares the
August 10 closing price with last
nights close for bonds Of rep
resentative liset Of companies:
The Washington times., 1930-09-27
Here and There

mere anu 1HcEe
I am told interests formerly
active in Radio have been heavily
short on the stock all the way
down from around 40.
United States Pipe and Foun-
dry will be a good bet around
80. The company will make
money this year and there is
some talk of boosting the current
81 dividend to So next year.
Commercial Solvents is proving
stubborn. Liggett and Myers has
given way grudgingly. It looks
cheap at current levels. There
has been steady investment buy
ing in National Biscuit. The
stock is a buy under 80. Foster
Wheeler has been well bought on
the decline. It will probably be
one of the leaders Of the next
up-turn. Repeated drives on
Radio were believed to have heen
used to cover short lines in ether
sections of the list.
hear of a pool in Auburn to
burn up" the shorts. Action,
however, won't be taken until
the. stock goes lower. I am told.
It would be well to wait and see
If Auburn breaks it's low for the
year before thinking Of any COM
mitments in the stock.
The Washington times., 1930-09-27

the stock. which now yields al
most 8 per cent, despite the de-
preston in the copper industry
Smelling gets a substantial part
of its income from lead. which
has been a bright spot in the
metal picture. The company also
is a large fabricator Of copper
and other metals. l am told the
stock has been well bought dur
ing the decline.
Big blocks of General Motors
featured the close of yesterdays
market. Two lots of 1S 600 each
came out within a minute Of
each other. I am told they were
absorbed by orders on the Spe-
cialist books. There was smart
selling in motors two weeks ago,
which was pointed out In this
column. Below 40. however. the
stock looks appealing.
After all, Motors So dividend
is safe this year. The company
will do better If there is any
sort Of automobile business in
1881.
The Washington times., 1930-09-27
BALTIMORE SECURITIES

sa1esI STOCKS lcIoselChEe
S3o Arundel Corporation. 41% II
200lBaltimore Trust t...... 3s .....
14sIBlack & Decker. 20 - II
sic. 4 P. Telephone pf. .I116h .....
1o5Com. Cr, Sh pf WV. IS II
14|Con G z L 4 Power. i114h az
4lCons G e l. g. P5Te pfi1O4A go.
3slEastern Rolling Mills. 13 i
2Fidelity a Guar Fire. 36 80.
4SlFirst National Bank. 45& - \
5Houston OIL pf vt.... 30 .....
10I Mfrs Finance to-. IT II
51Man Finance 1st pf.. 1S .....
20 Maryland Casualty.... 37h + II
10OIMer & Miner ,Tr Co... 3SS E-1h
rs New Amsterdam Cas-. IS - "
18iPa Water & Power....I 72hi-2h
S0IUnion Trust. So - II
1901 I'm Rys & Electric. 7hl-
The Washington times., 1930-09-27

The following table shows what
the stocks of these companies have
done:
The Ely miner., 1930-08-08
q THE C|Trs OBLIGATION TO ITS PEOPLE. d
tBy THOMAS ] SULLIVAN
Special to the Miner by American Press League.

borrowers that his bank is not in
terested in owning any more city or
farm property. The same answer is
given when real estate first mortgage
bonds are offered as security for loan.
likewise, we find that industrial stocks
md bonds listed or unlisted, are con-
Sidered in most cases as dangerous
ecurities due to their daily fluctua-
lions in market values.
The question to be considered by
individuals and business men in this
unusual period of depression is-what
'eally does constitute reliable and
ound securities? Have real estate,
listed or unlisted bonds and industrial
;tocks lost their intrinsic values?
What must one possess today that he
AN sell for cash or upon which he
IAN borrow money3
There never was time in the his
jory of this country when money
Gould not always be readily acquired
and almost Immediately, upon real
estate securities and stocks and bonds
If sound corporations, but today, how
1ifferent! What is the real cause
underlying this unusual condition?
There is just as much money in the
country as there ever was, but the
question iS-who has it, and why do
the possessors of this money insist
lpon keeping it all for themselves
when it is so badly needed in business
md for individual and family use?
Such condition has never before
been known in this country, and what
is going to be done, and by whom, to
change this existing situation, is the
important problem confronting the
American people. The nonstability of
security values is little short of a
national calamity. and it would seem
that it is matter which should
greatly concern the banks and in
vestment bankers of the country, and
that it is largely up to them to de-
wise ways and means of solving this
veXing problem.
When farmer, owning two hundred
acres of good productive land, or is
the poSseSSor of valuable block of
we'll located city property without en-
cumbrance, is unable to borrow a
substantial amount upon such gilt
edged securities, there is something
radically wrong in the country What
such deplorable situation is an un-
solved problem which the great bank
ing interests and their associations
could account for and quickly remedy
if they would. They are the ones who
have induced the people of this country
to invest their savings in stocks and
bonds. Why then should they not be
the ones to find the remedy in this
period of depression in which they
should shoulder the major part of the
The Ely miner., 1930-08-08

There is not town or city in this
country that cannot profitably provide
work for its unemployed during a
period of continued prolonged depres-
sion in business if it will only do So
and social organizations, can dc
nothing more useful, humane and
better for their town or city than to
organize its citizens into a movement
to create work for those unfortuuates
who are out of employmenta and through
no fault of their own, find it most
difficult, and many times impossible
to provide neceSSaries of life for the
sustenance of their families. An or
ganized campaign by the more fortu-
nate citizens and business men tc
create work for the unemployed is moi
charity but business and social duty
they owe themselves and their town.
1t is the reasonable expectation of
citizens that local governments shall
so conduct their civic and business af-
fairs that all the people may have full
opportunity to work and prosper in all
useful and legitimate vocationS, but
opportunity and prosperity do not al
ways connect when a town does not
do its part.
There is not city or town which is
not capable of furnishing plenty of
work for its unemployed if they will
but make survey of the necessary
improvements that can and should be
done by those in a position to do SO.
Every town can extend its street paw
ing, sewage system, sidewalk building,
improvement of public parks, extern
sionS of its electric light, gas and tele-
phone systems, repairing public build
ings, etc.
Building owners and business people
can make maintenance repairs on their
homes and business properties, such as
necessary carpenter work, painting,
new roofs, overhauling of heating
plants and plumbing, checking elec-
trical work, clean, repair and replace
fittings and furniture in homes In
doing all this, business people will aid
themselves by relieving unemployment
and stimulating their own business.
To start movement of this kind
cooperation is essential and necessary.
There are men in every town who
could and should sponsor such a move
ment. They are the president of the
merchants business organization, the
presidents of banks, and the newspaper
publisher. Their influence would be
sufficient to enlist the cooperation of
other citizens. If every town will or
ganize such a campaign, general local
conditions will almost Immediately
show a welcome business and social
improvement. This is good and sound
advice. Try it out and see how it
works.
The Ely miner., 1930-08-08
HOW TO KEEP WELL
Committee Association

swat the fly" is excellent advice
as far as it goes, says this weeks
bulletin from the Minnesota State
Medical Association. But with. each
female adult fly able to produce from
100 to $50 of her kind every IL to IA
days, the chance of killing her and all
her progeny with the swatter or the
fly poison or traps looks hopeless.
1t is wholly possible, say the medical
association experts, that some day
there will be no fly problem, no need
for fly screens or swatters. That fly
less millennium will come when every
single householder and farm holder
is organized to destroy breeding places
and not before, though swatters mobil-
ize to army proportions
The fly breeds in manure, in sewage,
in decaying vegetables or organic mat
ter. When the householder no longer
has exposed piles of the latter; when
sewage is all adequately disposed of,
when the farmer takes care of his
stable manure in the modern scientific
manner, there will be no more flies,
says the bulletin.
For the farmer, there are a large
number of practicable schemes for
cleaning stables and keeping manure
in fly tight bins. Proper sewage and