davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-06-27
GERMAN POWER
co. CHANGED

FRANKFORT ON THE MAIN,
June 2T.-Fhe Westphalia United
Electric Power Corporation, hith-
erto a purely government-owned
utility, has become a mixed com
pany. half privately owned,
through the doubling of its capi-
tai stock to 100000 reichs-
marks, it became known here to-
day.
AS the result Of the conversion
so, 900, 900 marks of new capital
has been subscribed for by bank
ing consortium headed by the
Deutsche Bank. A number OF
American banking houses, includ-
ing Harris, Forbes & Co., it is
understood, will share in the re-
capitalization of the company and
acquire some Of the new capitai
stock. It is reported that the
company will float a $4,000, 200
loan in the United States
One important effect of the
transaction will be the improve
ment effected in the capital, ,struc-
ture of the company through the
increase in the proportionate
amount Of stock outstanding to
the size of the company's funded
debt.
The change in the corporate
structure of Westphalia United
Electric Power follows the trend
of many German public utilities
which were formerly state cor
porations and which are becom-
ing either entirely privately owned
concerns or in which private
financial interests are being al.
lowed an equal share with the
government.
The report that Harris. Forbes
81 Co. are participating in the re.
capitalization of the company
raises the possibility that some OF
the new stock has been acquired
for the account of Public Utility
Holding Corporation, which was
formed by this banking house and
the American Founders interests
last fall.
It has been reported that Public
Utility Holding was entering the
French and German utility field
Yesterday F. s. Burroughs, presi.
dent of the company, confirmed
the report that the company has
acquired q one-third interest in
Union Electrique Rurale. a large
French utility system. The West
phalian company is one Of the
largest producers and distributors
of electrical energy in Germany
It serves territory Of over 1853
square miles in Western Germany
including most Of the industrial
lied districts in the Ems, Lippe,
Ruhr, Leune and Wupper valleys.
Among the cities served are bort
mund, Barmen and MuenSter.
Operating revenues for 1923 to-
tailed 56,6l0,524 reichSmarks. Con.
Solidated assets at the close of
that year were 357 ,393, 200 reichs.
marks. The company has under
taken financing in this country
The Washington times., 1930-06-27

extended to the Soviet. A bank
ing combine has guaranteed IS
per cent and the ren1atning IS
per cent is the risk Of the indus
trialistS.
The principal Russian CONNER.
cial delegation shortly will trans
fer its seat from Milan to Genoa,
where it win later become the
ItalosSoviet traffic center.
Junket Planned
General Italo Balbo, minister
for aviation, is furthering the
supplying of aviation. military
and naval goods to the Soviet
military mission, which is in
Rome.
Early next month, an Italian
industrial commission will depart
for the Soviet, composed of Sig
nor Agnelli Of the Fiat company,
Signor Celia of ISotta- -Fraschini,
Alxert Pirelli, and Signor Benni,
president of the industrial con.
federation of Italy.
They will investigate methods
by which Italy and Russia can
enter into greater trade agree
ments which will initiate against
the American tariff, and attempt
to bring about reductions in rates
Of Italian and Russian products.
The Washington times., 1930-06-27
leaders
SENSE. EARLY
|. BUYING TURN
Definite Upward Trend With
Higher Output Soon to Pre-
vail Is Belief Of Experts

Seasonal influence, accentuated
by current pessirnism. obscure
the outlook in the iron and steel
trade, Iron Age will say tomor-.
row in its trade review. Summer
shut-downS Of two weeks or more
by a number of large steel-con-
suming plants, notably in the
Detroit district, coupled with the
customary mid-year suspensions
for inventory in virtually all lines
Of industry, make 1t clear that,
temporarily at least, iron and
steel demand will undergo further
reduction.
On the other hand, heavy line
pipe bookings and mounting re-
Quirements in structural steel re-
main encouraging factors, and an
impending general business re-
covery Is senSed by leaders Of the
steel industry who have passed
through many cycles of trade ex.
panSion and contraction. They
believe that curtailment Of buy.
ing has been overdone, and they
see signs Of a reaction in the
other direction In scattered evi-
dences Of more liberal purchases
Of various products.
U. 8. Steel Confident
Plans of the United States Steel
Corporation to bring as much ore
down the lakes as in 1929 are in.
terpreted as indicating its faith
in the business prospect for the
last half of the year. The sched.
uled blowing in Of two blast
furnaces by large Pittsburgh in.
dependent early next month may
point to similar confidence, al.
though probably more largely in.
fluenced by pressure for line pipe
deliveries.
Steel ingot production for the
country at large has declined to
81 per cent from the 65 per cent
rate OF week ago. Companies
catering to the automobile trade
are curtailing the most, while
those having large capacities in
pipe are holding their own or
making slight gains. The Steel
Corporation average, at 70 per
cent, is 3 or 4 points higher than
a fortnight ago.
Structural Gain
Construction work continues I'd
develop in increasing volume.
New structural steel projects, at
$1,000 tons, are the largest this
year with the exception of two
weeks ago, when they totaled
liz, 900 tons.
The Washington times., 1930-06-27
ReserUe Warns
OF $40 Fake Note

. The Federal Reserve Bank
transmitted yesterday to member
banks a warning against a new
counterfeit $40 Federal Reserve
note which it called extremely
dangerous" It described the note
as follows:
"On the Federal Reserve
Bank Of Kansas City, Mo-, 1928
series, check letter a." face
plate No. 2, back plate No. 20,
H. T. Tate, Treasurer of the
United States; A. w. Mellon,
Secretary Of the Treasury: pOr.
trait of Hamilton.
"This production has ap-
peared with two different serial
nu m b bers- J06186756A and
J16568977A."
The Washington times., 1930-06-27
Canada Crops Aided
Bu General RdinfdUs

WINNIPEG, Manitoba, June 27,
Rainfall in practically all the
crop-growing districts Of Western
Canada during the past week has
materially changed the general
outlook, although at some points
the rainy period was followed by
hot winds which. to a consider
able extent, deprived the crops
of the total value of moisture re-
ceived, says the weekly crop re
port of the Canadian National
Railways.
The Washington times., 1930-06-27
Lamont and De OcG
Tackle Mexican Debt

Thomas w. Lamont, Of j. P.
Morgan g. Co., representing the
International Committee of Bank
ers on Mexico. and an official
delegation of the Mexican govern
ment, headed by Luis Monies de
Oca, finance minister. went to
work here today to straighten
out the Mexican debt situation.
Their conferences will continue
for several days.
American, Mexican and Euro
pean members of the international
committee were scheduled to at
tend a luncheon at the Down
Town Association, given by Mr.
Lamont in honor Of the Mexican
finance minister.
The Washington times., 1930-06-27
CAN. PACIFIC 5
MO. GROSS OFF

Canadian Pacific Railway Com.
paiy reports gross income for
the third week Of June of ST.
523, 900, against $4,137, 900 in the
like 1929 week. For the period
from January / to June 81 gross
income totaled SIS, ,9O1 900, against
$93,523, 900 for the same 1929
period.
Great western
Chicago, Great western rail-
road reports net operating income
for May of $l52,514. against $685.
334 In May 1929. Net for the
first five months Of this year
totaled $854,362, against $4T6, 900
in the same 1929 period.
Maine Central
Maine Central Railroad Com
pany reports for May net income
of $T7,515 against $98,562 in May
1929. Net income for the five
months ended May 81 totaled
$523. $40 equivalent to 1894 q
share on l2O,O7 shares compared
with $3l7,467 or $2.12 . share
in the like 1929 period.
Virginian Railway
Virginian railway shows net
operating income for May OF
$3.50, ,74s, against $3.50, ,S95 in May
1929. For the first five months
of this year net income amounted
to S3,O37, ,493 or 1882 q common
share, against $3,527 ,6S2 or $4.I4
q common share in the like 1923
period.
Minneapolis O. st. Louis
Gross revenues of the Mime
apolis & st. Louis Railroad CO.
for Nav were $l,O33, ,108 and net
operating revenue for the month
amounted to $5,992.
New York, Ontario
New York, Ontario & Western
Railroad Co. reports for May Q
deficit of So, ,458, against DEF
icit Of $96, 1859 In Mayo, 1923.
For the first five months Of 1880
there was a deficit Of $4S5:21l'
against q deficit Of $505,5S4 IN
the like 1929 period.
The Washington times., 1930-06-27
Dull Period Needed

If it is true, as many claim,
that the liquidation movement
Is near its end, then it is logical
to look for a period Of deadly
dullneSS such as was experienced
Immediately after the autumn
collapse and previous to this
years secondary reaction In my
opinion, a period of dullneSs
would hold forth more favorable
promise than any rally. Each
rally is likely to be followed by
q reaction, and the market is in
no position to Withstand toe
many setbackS. Besides, rallies
is needed on any sustained recov
cry and the market obviously
lacks leadership at this time.
still disagree, therefore, with those
who argue that the market il
shaping up for a new bull move
ment.
The Coca Cola earnings esti
mate, showing gain Of better
than IL per cent in net for the
quarter, is another constructive
development, comparable to the
American Tobacco extra dividend
Low commodity prices have been
one Of the chief influences for
better Coca Cola earnings.
The Washington times., 1930-06-27
RenOn1inGte LeUine
To Head RalO Silk Er.

Jerome Levine, of H. Hentz &
Co., president of the National
Raw Silk Exchange for the past
year, was renominated for that
office in the report filed by e. A.
Canalizo, chairman of the nonli-
mating committee. Other officers
renominated We're: First vice
president, Douglas Walker; second
vice president, Charles Muller,
and treasurer, August Schieren-
berg.
Louis Kahn, Floyd Y. Keeler,
Allan. Mcfarland and Albert Tilt
we're nominated for members of
the board of governors, to serve
three years.
The Washington times., 1930-06-27
TRADERS seen NERVOUS
OVER MART TREND
Current Rally of Technical Nature Expert
Thinks; Advises Care in Making
Commitments
Rr THE sPEcTATOR

expect yesterdays extension to continue
into todays early trading the Stock Exchange 1t possible
that the strength persist all day although 1t IS more
likely considerable profakng will develop late this after
and continue in Saturdays session At any rate the
market certain to be called bear quite lot OF selling
activity before the week ends With traders and uncer
tain about the trend is unlikely that operators will let large
commitments stand the week end still believe
that the rally purely technical and not warranted
by anything in the business situation The turn upward in
commodity markets yesterday also technical resulting
chiefly heavy selling would be extremely
The Washington times., 1930-06-27
SMITH co. AUDIT
DEMANDED

WILMINGTON, Del, June 81.
A petition for a writ of manda-
mus asking that the F. H. Smith
Company be compelled to permit
an examination of its books, was
filed here yesterday by the pre-
ferred stockholders protective COM
mittee of the company.
The committee wishes to In
spect the books, to reach the
other stockholders of the corpor-
alton, to enlist their aid in pro-
tecting their interests.
The petitioners are: Harry NJ.
Blair, George n. Baker. William
F. Edwards, C. Stevenson New.
hall and j. H. Ober.
A number of officers of the
company have been indicted in
Washington, receivers have been
appointed for it in New York.
and two suits asking that the
company'S, charter be revoked and
receivers appointed are, pending
here. s.
The Washington times., 1930-06-27
Stock Yields Attractive

The drop of the call money
rate to 11a per cent, the lowest
level in IS years, was merely a
reflection of the tremendous
liquidation experienced recently
in securities and commodity mar
kets and the general dullnesS Of
business. At the renewal rate of
2 per cent yesterday, money went
begging. There were few takers,
and many out-oflSown lenders
withdrew funds. When the rate
dropped to Ia per cent, there
we're further Withdrawals, lenders
becoming disgusted at the pros
pect of funds earning such low
interest. Declining money rates
serve simply to emphasize the at
tractive yields of common stocks.
Many high grade issues, with as
sured dividends, are selling to
yield 5 to 8 per cent within a
very short time, such stocks must
necessarily attract investment
funds which at this time are idle
or practically so. To me it seems
that high fields are the chief
hope of the stock market. When
they attract initial buying, it is
possible that the public may re-
turn to the market.
The most conservative brokers,
those who are most often right
about the markets trend, advise
clients not to be too hasty in
concluding that the bottom of
the decline has been reached.
The Washington times., 1930-06-27
Steel Casting 5 Mos.
OutDut at '29 Mark

Production of steel casting in
the United States for May totaled
los, ,405 tons, against 11l,366 tons
in April and 127,1S9 tons in May,
1929, the Department of Com.
merce reported today. For the
first five months of 1890 total
production was 545, 5,7O1 tons, com,
pared with 553,.174 tons in the
same period last year.
The Washington times., 1930-06-27
Sweets 90. Position

Declining commodity prices also
have been responsible for better
ment Of the position of Sweets
Company of America, whose stock
is listed on the curb. Net earn
ings for this year, according to
official, estimate, probably will
reach Sits a share, compared
with $1.22 in 1929. Ratio of cur
rent liabilities is about 8 to /,
and the company has enough
cash on hand to wipe out all liza
bilities. Directors recently voted
to pay the regular quarterly divi-
dend of IS cents a share. There
are 100000 shares of common
stock outstanding and no bonds
or preferred stock.
The Washington times., 1930-06-27
Fairbanks s4fpings
For 4 Months Drop

Fairbanks Company and sub
salaries report for the four
months ended April 80 a net
profit of $44,4 ,460, or $4.46 a share
on 10000 shares of 8 per cent pre-
ferfed on which no dividends have
been paid since 1921. This con-,
pares with $10.95 a share earned
On the first preferred in the cor
responding 1929 period.
The Washington times., 1930-06-27
AngeU NeIU Head of
VeSta Bntteru Co.

Chester M. Angel has been
elected president of the Vesta
Battery Corporation, to succeed
Ward S: Perry. Mr.. Perry, it was
stated, will devote all his time
to his brokerage business.
The Washington times., 1930-06-27
Copper Dividends

The reduction of the Anaconda
dividend by one-half was exactly
as predicted here several weeks
ago. The drastic slice in Green
Cananea'S rate was something of
q surprise. Nevertheless, look
for the copperS to do better
marketwise, now that the last of
the bad news is out of the way.
Most copper shares advanced in
The Washington times., 1930-06-27

pleasing style in yesterdays after
noon trading.
The Washington times., 1930-06-27
CHICAGO MARKET CLOSES

Directors of the Chicago Board
of Trade today voted to close the
exchange on Saturday, July S..
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-12
Wilson Club
Subject At
Bell Home

The Learners club very fittingly
observed Tuesday with a program
on Armistice Day and the Red
Gross roll call. as they met at the
home Of Miss Florence Bell. Mrs.
O.. w. Coke. as leader. reminded
the members Of the significance Of
The day and their debt 10 the
Unknown Soldier. concluding with
Kipling's occasional Lest We for
set-Lest We forget.
Mrs. Willie George discussed
Woodrow Wilson. as a man. a COL
lege president and as President of
the United states during the World
War streSsing his many wonderful
traits of character. Mrs. Mae Burt
che. who Is a very talented reader.
gave several poems appropriate for
the occasion. The roll cali consist
cd Of current items Of interest. con-
corning the Red Gross work in the
United States as we'll as foreign
countries. Mrs. Gotke distributed
pamphlets concerning the national
flag and its uses. These were the
compliments Of the John Hanson
post.
Mrs. Russol McChesney will be
hostess next week
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-12
nfTTaIANN

Based on J. Leslie Thrashers in
imitable drawings for Liberty Mae
azlne. For the Love o. LII" the
Columbia comedy drama which
opened at the Dittn1ann Theatre
TO-DAY, Is a delightfully."- divertinr
piece Of entertainment. Modern
domestic life as II really exists Il
the keynote OF the film. II depicts
the early marital experiences Of
Sandy and Lii. those famous ~ er
characters. and from the standpoint
OF fresh. true-to-life humor. II Is a
real creen triumph.
The plot Is one OF those trisrzrl-
lar affairs. Sandy. a LAWYERS clerx
and his pretty sweetheart. Lii ere
obviously made for one another. but
true love can't run smooth for then,
because OF the interference of Lis
wealthy suffer. Wvn Huntlev. An
otner trouble maker Is Eleanor
Cartrizht. ex-chorus Girl adventur-
ess. whom Huntley tries 10 pair Off
with Sandy SO that his wav will be
clear with Lii. Even after the mar
rage, Huntley continues to inter-
fere. He breaks uD Sandv's NJ ms
for a happy home in the country
by persuading Lii to lease an ultra
modern flat with futuristic furnish
ings. The Jazz party scene. IN which
Sandy gets gloriouslv drunk and as
serts his authority bv wreckinr this
unhomelike place. is one of the
comedy hiEhliehts Of the picture.
The film is treated with that light
touch which makes for truly sue
cessful comedy.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-12
R1vOLI-SAN BEN1TO

II the talkies have presented
lady as funny as Winnie of the wink
and the Tallop. IL is not easy TO
locate her. And here Winnie is
aTain is a new and funnier Cod
Digsers OF Broadway" appearing In
the same sort of a part only raised
70 the nth degree of comedy. She
sings new songs and cavorts in a
way 70 get the audiences into
spasns Of hilarity.
The story is an original BY Mel
vile Crossman ard Arthur Caesar.
Broadway wit has done screen adap-
tation and dialogue. The all star
cast includes lovely Irene Delroy.
Jack Whiting. Charles Butterworth.
Charles Judels. John Davidson and
Arthur Hoyt. Roy Del Ruth directed.
The story has to do with Winnie's
scheme to receive ten percent COM
mission from her friend 10 manage
her in a campaign to capture sugar
daddies. For the purpose the two
sail TO Havana. and there meet with
adventures which are as thrilling as
they are ludicrous. This is Winnie
Lightner at her very best. Pc sure
to see The Life Of the Party"
showing today and tomorrow at the
Rivoli Theatre, San Benito.
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-12
Landing Field Fete
Date Is Considered
by The Associated Press

SAN BENITO, Nov. IA meet
ing probably win be held Wednes-
day to decide when the formal
opening Of the San Benito inter
mediate landing field, which could
not be held Tuesday on account Of
rains, will be staged, according to
J. Lee Hanchey. general chairman.
With pilots stranded at various
points on their way here. the cele-
bration may be held Saturday and
Sunday If the weather clears.
Mis- Ruth Brown. winner OF the
Miss Aviation contest, received q
trophy donated by The San Ben
ito Light ct "A Armistice bah held
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-12

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Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1930-11-12

voth at the piano began Mendels-
sohn's Wedding March. The fold
ing doors were opened and the
bridge and groom Of fifty years
ago passed down the aisle to the
! chancel rail. Preceding the bridal
couple we're Mr.. and Mrs. j.. T.
Luther. their only attendants.
Mr.. Luther is a brother OF the
bride of fifty years. At the chan
eel rail they we're met by a former
pastor, Rev. o. c. Crow. now pre-
siding alder of the M. z. church.
Brownsville district. who gave a
beautiful and impressive address.
The couple each affirmed that the
other had faithfully and trutnfully
kept the vows pledged fifty years
ago to love. cherish and protect"
and ito love. honor and obey" and
with due solemnity re-affirmed the
VOWS Of fifty years ago. At this
time Rev. Grow handed TO the
groom a wedding ring. I. Dorfman
of Brownsville. sent the ring as a
token OF e-teem. requesting II be
used in this anniversary ceremony.
Cake Is Cut
After the ceremony the couple
led the way to the annex where
the reception was held and refresh
ments OF orange punch and white
cake were served to the entire con-
gregation: and the bride cut he
wedding cake.
The bride wore a beautiful white
crepe dress. with veil. and the groom
wore conventional black. The
Prince Albert coat and white vest
being the ones he wore fifty years
ago. But, alas. had to buy other
trousers as the fifty-year-old
pants were too small.
Mrs. Ferd Voth accompanied Miss
Fisher who sane Silver Threads
Among the Gold" ard Miss Funk
who sane When You And I Were
Young. Maggie" Several addresses
were made hv REV o G. Crow. @.
n. Thomson. Mrs. a. G. McKin-
nev and Dr VIII whirran RI Nc
Allen. and J. r. Luther OF Fort
Worth.
Handsome Gifts
The chancel rail was beautifully
decorated in white and green and
the floor baskets and baskets on
pedestals. were gold and green. IN
the annex. the bridal party's table
had white lace cover over orange.
The TERED brides IKE was white.
trimmed in orange. Over the table
was suspended a white wedding
bell with white ribbon streamers.
At each side was orange colorcd
candles in crystal holders. The
bon bon dishes were crystal and
gold.
Mr.. w S. Russell is a native Of
GEORGIA and Mrs. Eta Luther Rus
sell is a native If Mississippi. They
were married at the home Of the
brides mother. Mrs M. 5 Sanders.
in Wise county,. They resided the
early part Of their married life in
Oklahoma and North Texas. COM
ing 70 the VALLEY. At Donna. in
1911. and residing here since They
have no living children. The only
relatives present were Mrs. RusSeils
brother and his wife. Mr. end flrs.
J r. Luther. or Fort Worth.
Among the many presents was
seventv-five dollars in gold.