davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-07-25
TIES
HOLD STAGE IN
BUSINESS
Quotations on Wheat, Corn
and Cotton Playing Big Part
in Shaping Trade Future

Quotations on spot and futures
for wheat, corn, cotton and
other important commodities are
playing a more important role in
current business progress than
the actual or prospective arecov.
cry in steel mills operations.
automobile manufacturing, build
ing construction. textile distribu-
ton, bank clearings, car loadings
and other recognized industrial
barometerS.
The reason is obvious. Agricul-
tural production represents the
worlds greatest creative enter
prise, the bringing into being OF
real wealth, not through an elab.
crate manufacturing process, but
primarily by the cultivation Of
the soil, and the multiplication
by hundreds and thousands Of
times of the value Of the seeds
when transferred into the ripened
crop.
American agriculture eplists by
far the largest army of workmen
of any industrial class, and its
products are much more diversi-
fled than that of any other in
dustry. Comparison of present
prices with those prevailing a
year or so ago offer an extremely
diScouraging prospect to the pro-
ducer of American farm products.
For example, wheat is now
quoted at 88 cents a bushel
against $1.38 a year ago; corn at
81 cents against $1.03 last year;
oats at 38 cents compared with
48 cents. Cotton at 13 cents
against Is to 18 cents a year ago,
and so on all the way down the
line. The Standard Statistics
Company estimates the hypothet-
ical value of IL important Amer
ican crops this year at around
16 per cent
The Washington times., 1930-07-25
EXPECT STOCKS
To CD HIGHER

The long side of the market
rather than the short side was
considered best for operations in
brokerage circlues today. While
acceptance of profits on any re-
action was advised the trend was
believed to be upward.
Continue to feel the list is in a
long pull buying zone. Although
stocks slipped back at the close
the volume of trading was not suf-
ficient to be significant.-M. j.
MEEHAN & co.
Look for a further recovery to-
day. Would continue to hold lead
ing stocks already bought
HORNBLOWER & WEEKS.
Be Ready to Jump
Think the constructive side of
the market is the right side pro-
vided people are careful to take
quick profits or cut losses short.
e. F. HUTTON & CO.
Would use some caution in fol-
lowing advances until the steel sit
uation improves and the commod-
ity prices show some sign of i'm
provement.-TOBEY & KIRK.
Would buy about half the
amount of stock carried last week
on reactions placing stop loss or
ders just below Tuesdays low
prices. eS.-EMANUEL & CO.
Prices May Slip
Would withhold long commit
ments at the present moment in
the anticipation Of further
shading of prices which might
well take place at these levels
CUSICK, KENT & CO.
For the present we would ad-
here to the policy of buying on
any moderate setbacks in the
better class of StockS.-JOHN
MUIR & CO.
Liquidation appears to be COM
plete and barring some reactions
likely to come from time to time
long pull holdings should not be
disturbed.-JOHN MELADY &
CO.
If the market continues to see
saw at current levels we advise a
stand pat attitude, believing that
enough favorable news will be re-
leased in the next few weeks to
warrant another upward move
LOVE, BRYAN & CO.
Cannot regard a further run up
here without a touch of skep-
ticism. The market is likely to be
more treacherouS for not having
spent more time in consolidating
it's poSition.-OTIS & CO.
Public interest is beginning to
stir and while we think it advis-
able to guard profits or minimize
losses through stop loss orders
there is not at the moment any
real good reason for short selling.
PRINCE & WHITLEY.
The Washington times., 1930-07-25

due to retirement of the corpora
tion's funded debt.
Bethlehem Steel had $94 ,925 800
in cash and United States Gov
ernment securities and $22, $780,
900 in marketable securities.
Standard Oil at Top
Cash and marketable securities
of some of the. other leading
corporations total:
The Washington times., 1930-07-25

have to pay a fat price for stock.
The story is that accumulation
by powerful outside interests be-
gan in Sinclair months ago when
the stock was in the upper
twenties and that the stock was
bought all the way in the June
break with an unlimited buying
order at 20.
What lends color to the report
is that Petroleum Corporation of
America, which is likely to be
the medium for the merger, re-
ported no Sinclair stock in it's
port folio in its recent statement.
Whatever the report, Sinclair is
a we'll rounded company and
seems attractively priced for a
long pull on its earnings and
merger possibilities, but its mar
ket action has been uninSpiring.
Atlantic Refining mystified the
Street with its sharp bulge yes
terday, particularly in view OF
the slump in it's earnings this
year. There were rumors of pool
activity. The stock, however. has
a reputation built up in the past
few years of going counter to
the news.
Here and There
Electric Bond and Share is re-
ported to be resuming bullish
activities. National Power and
Light, in which inside buying
was reported in this column at
40, is said to be a favorite. Amer
ican Power and Light is mother
and is being tipped for a sharp
rise.
The Street hears that a ride is
coming in Case Threshing, Amer
lean Telephone is being picked
up by smart buyers. 1t is still
the nations premier investment
issue.
There would be more bullish-
ness around if the market hadn't
jumped ahead so fast and weren't
being so obviously strong,
armed"
Public Service of New Jersey
is one of the most favored of
utilities and is keystone in any
Eastern utility merger picture.
A big percentage of the stock is
locked away in United Corpora
ton and U. G. I. treasures, Mis-
souri,. Kansas, and Texas seems
a cheap rail. The stock is likely
to be put definitely on a 81
basis if railroad earnings make a
real come back.
Thompson Starrett is a low
priced stock that should do better
if the building industry has a
real revival. The company
earned 81 on the common last
year.
The Washington times., 1930-07-25
DECLINE IN BROKERS LOANS
TO AID UPSW|NG, HE SAYS
Drop Came AS Complete Surprise, Especially
Since Development of Huge Pool
Operations in "Blue Chips"
By THE SPECTATOR

The outstanding development in the stock market yesterday
the unexpected $10O00 decrease in brokers loans an
nounced after the close
Since the the week had been distinctly upward
with the rally Tuesday wednesday canceng most Of the
reaction the previous the loans drop
surprise especially active pool operations
in evidence This bears out assertion that stocks are pass
hands that the market is in sound techn
condition further evidence that the short interest
growing and this gives the market firm basis for
substantial advance.
Stocks acted well throughout the selling of the past two days
the They should start upward
today and likely carry through into next
week without meeting important resistance
The Washington times., 1930-07-25
Sinclair Oil

hear that banking group
81 inning a bilIion-dollar oil giant
& tn Sinclair as the hub may
The Washington times., 1930-07-25

Extra rights.
%Extra dividend.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-23
TARIFF PASSAGE
|. EXPECTED MONDAY
FIexibiIity Provision and Res
toration of DebentuFe May
Bring New Fight.
BY G. GOULD LINCOLN.

The tariff bill, its revision completed
by the Senate after six months debate,
now awaits q final vote, which may be
reached tomorrow.
The passage of the bill was predicted
confidently last night. The big fight Is
- come when the bill has been reported
from conference, particularly II the
Senate amendments eliminating the
flexible tariff clause Of the existing law
and providing for the debenture farm
aid plan are stricken out by the con-
ferees.
The weary Senators Ieaved sighs of
relief when the Vice President reported
the third reading Of the bill soon after
8 o'clock last night. That closed the
bill to amendments. It remains now
only to act on the bill as whole.
9 However, q motion Is to be made by
Senator Thomas Of Oklahoma, Demo-
crat, TO recommit the bill to the finance
committee with instructions to eliminate
from it all changes in the tariff rates
Of the existing law except those on ag-
ricultural products. Senator Thomas
a duty on oil. He made final attempt
last night, but was defeated by q vote Of
IS to 80.
The Senate has twice before declined
to. limit rate changes to agricultural
products. The first time, when the mo-
ton was made by Senator Borah Of
Idaho, 1t was lost by q single vote.
Senator Thomas later renewed the pro-
poSal, but was defeated by . substantial
majority. The belief was expressed last
night that his motion to recommit
- It'll -
then be passed and sent to conference.
Progressive Split FOreseen.
On the passage Of the bill the Repub.
Mcan ProgreSsives will be split, 1t was
indicated last night, with q number Of
them, including Senator Borah Of Idaho
and the Senators from South Dakota,
voting for the bill, largely on the ground
that It carried the debenture clause and
increases in rates on farm products. It
IS expected that the Wisconsin Sena-
tors, La Toilette and Blaine, will vote
aaginst the bill and probably Senator
Norris Of Nebraska, though some doubt
was expressed as to his final attitude.
Seven or eight Democrats are ex-
pected to vote for the bill on its pas
sage.
Several of the Republican Progressive
Senators last night were still debating
whether they would vote for the meas
ure or not. Among them was Senator
Nye Of North Dakota. If they are con-
Nnced that the measure as now writ.
ten Is more advantageous to the farm
ers than is the existing law, they will
support 1t.
Many amendments were offered to
the bill yesterday, but no important
changes were made In the measure.
Senator Thomas late in the session
made the sixth attempt to take oil from
the free List. He proposed to levy a
duty OF 10 per cent on crude oil and
20 per cent on oil by-productS. This
CONTINUED on Page 4, Column -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-23
FINANCIAL GIANTS
cLASR60 MERGER
Fight to Finish Is on in Moves
to Get Youngstown
Steel Company.
~ the Assoeinted Press.

Sy the Associated Press.
YOUNGSTOWN, Ohio, March a.
Here In the rich Mahoning steel district,
envisioned by its developers as the flu
ture "Ruhr Of America" Is being waged
q battle of financial giants like none
ever before.
Victory for one side will mean q bill
lion dollar consolidation Of the Bethle-
hem Steel Corporation and the Youngs-
town Sheet d Tube Co.; for the other.
1t win retain Youngstown's largest In
dustry In Youngstown and Cleveland
hands and perhaps eventually open the
way for Midwestern bid Of supremacy
in the steel industry.
Usually manipulationg Of bic bust-
ness peWns are carefully screened from
the curious public, but publicity Of al
most every move, and appeals directly
to civic pride have given the huge
struggle IS much the appearance Of o
political campaign as battle Of finan-
ciers.
Appeal TO StOckhOIdern.
BY letters, kilograms. cables and tele-
phone calls, stockholders are being del
uged with rival appeals from the head
quarters Of both camps, Just across the
street from each other. One Cleveland
stockholder, who held 10 shares of
Sheet q Tube as q modest investment,
suddenly found himself deluged with
opposing arguments for support, and
most of the rest Of them, even some va
cationing IN Europe and Florida, had
similar experiences.
Until ffHA fVno ufos k%aIw~ nYarnA &aSnvv
bids ran as hig has $3.50 q share In
private deals. But for two more weeks,
the scramble for proxies will continue.
Efforts especially will be concentrated
In youngstown, where stockholders are
believed to hold the deciding votes.
Great Figures Are in Fray.
Dominating the fight are some Of the
steel worlds greatest figures. James A.
Campbell, veteran Of the game, who
built UP sheet and tube during the last
30 years until 1t now Is an outstanding
factor IN the industry, has assumed full
responsibility for urging the merger, O
right-about-face from his former In
siStence that his company remain indc-
pendent. With him Is Frank Purneli,
who became president when Campbell
asked less strenuous duties and was
made chairman Of the board.
Eugene Grace, president Of Bet1le-
hem, and Charles M. Schwab, chairman
Of the board. whose oratory attracted
j. p. Morgan'S attention to him as the
man to convert Andrew Carnegie to the
Idea OF United States Steel Corpora
ton. are others firing the big guns for
the merger.
Cyrus s. Eaton, financial wizard, who
only q short time ago organized the
$500 ,0O0, 900 Republic Steel Corporation,
(HsOntiY1Y1aA -, ~ - n ,S-1-.--- -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-23
FLORIDA SHERIFFS RESTRAINED
FROM MOLESTING AL CAPONE
Federal Judge Signs Temporary Order
Prohibiting Acknowledgment Engages
Counsel to Defend Rights.

who Is not charged with any crime. who
Is an owner Of property In this State
and who Is a taxpayer In this State.
We do not contend that the en-
forcement officers Of the State have not
the right to arrest Capone II he Is
charged with a criminal offense, but we
understand the sole basis for YOUR di-
rections to the sheriff is your opinion
concurred in by others that Capone Is
an undesirable citizen. II our under-
standing Is correct, please advise us
under and by virtue Of what lawful au-
thortty you or the Sheriffs Of the State
may determine who Is or who Is not =
desirable resident or visitor,
Even II Capone Is charged with and
arrested for q criminal ofrense. what
right have you or the sheriffs of the
State to Danish him from the State or
to prevent him from entering the state?
IF Capone Is charged with q criminal
offenSe, what Is It?
"IS constitutional government stiII IN
existence in Florida, and, II Il Is, are
YOU cognizant Of the oath you have
taken to support, protect and defend
the Constitutions Of the United States
and Of Florida?
'I.awlesSnesS Is no way to combat
lawlessness. II Capone Is iawless arrest
him, convict him and tInprion him, but
let's have it done In accordance with
law and the Constitution"
40 csigned1 -. r. GORDON,
"TT--~--n-- ~ Cr-vN"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-23
HUSTON'S POS|T|ON
HANGS ON REACTION
Hoover Has No Intention of
Taking Hand, Some G. o. P.
Leaders Say.

The tenure Of once Of Claudius H.
Huston, chairman Of the Republican
national committee, last night appeared
to depend largely on whether the stir
caused by the published reports Of his
activities as president Of the Tennessee
River Improvement Association dies
down or continues.
In some Republican quarters, 1t was
asserted that President Hoover has no
intention Of moving In the mater. Mr..
Huston was the Presidents personal
selection for the place Of Republican
national chairman, q selection that the
members Of the national committee ac-
cepted but did not originate.
II any change In the situation comes,
1t was declared, 1t would be initiated
by Mr.. Huston himself, who might
come to feel that his retention Of the
national Craftsmanship was embarraSS-
ing to the President and to the party.
Some Leave II to Hoover.
So far as members Of the national
are taking the position that II Mr.
Huston Is to be eliminated from the
Craftsmanship, 1t Is q Job for the Presi-
dent
The President was represented last
night as seeing no reason for the reSig-
nation Of Mr.. Huston. Senator Wat
son, Republican leader of the Senate,
and Senator Moses Of New Hampshire,
chairman Of the Republican sena-
torial campaign committee, both have
counSeled the President to wait, even
II he has anything in mind In regard
to Mr.. Huston. They feel that the
public viii come to understand that
the attack on Houston, through the
Senate lobby committee, Is q political
move by the Democrats.
Senator Caraway of Arkansas, Demo-
cratic chairman Of the Senate lobby
committee, said last night that he did
not expect to call Mr.. Huston again or
any other witnesses In connection with
the Huston case before the committee.
$50 far as ! am concerned" said
Senator Caraway, ~ shall be very much
disappointed If Mr.. Huston does not re-
main as chairman Of the Republican
national committee"
It was clear that the Arkansas Eena-
tor regarded the Republican national
chairman as a target for attack in the
coming campaign. He said the COM
mittee would hear Mr.. Huston II he
asked to appear again. Mr.. Huston has
promised to supply the committee with
data II requested.
Senator Caraway said that sooner or
later the lobby committee would sub
CONTINUED on Page {, Column a.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-23
ACQUITTED,
HOPES TO FORGET
ON TROPICAL CRUISE
oil Croesus, Slate Wiped
Clean by Jury, Seeks
Peace.
BY REX COLLIER

His name cleared Of the bribery
charge written against 1t In the last
chapters Of the dark record Of the naval
oil trials, Edward L. Doheny, who rose
from the humble status Of q struggling
prospector to the afiuence Of an oil
creosus, turned his thoughts, last
night to the glamorous South Seas;
there, with his wife and grandchildren,
aboard his yacht, to put behind him
the worries Of the last seven year.
Those years saw him branded In the
Senate as a~tTaitor to his Government,
charged ny q grand jury with cot1spir-
ing 10 defraud his country Of q section
of~its national defense, accused of CIV
ing . cabinet ofaeer q bride Of 100000
In cash.
Jury Wipes Slate Clean.
Today Doheny's slate Is wiped clean
Of these grave indictments. A fury Of
nine men and three women, with brtel
elaboration yesterday IN Criminal Di-
vision 3 Of the District SupKelne
Court, expunged the last Of the eri1n-
nal counts against the multi.mil1iosl-
aire--that charging him with corrupt
motives IN sending his lifelong friend,
former Secretary Albert 3. FAll, o lit
Tie black bag" containing 100000 Ia
currency.
The other count, charging conspir.
acy 70 defraud the Government Of the
Elk Hills oil reserves, was erased by q
jury IN the same court more than three
years ago.
The jury yesterday, by intonins the
words Mot guilty" before Justice VIII
Liam Hitz IN q tense and crowded court
room, accepted the white-haired de-
PENDANTS claim that the 100000 was
merely friendly loan by one old pros
pector to another IN need.
Yet, periodically enough, another
jury In the same box last october held
that, in receiving this money under the
circumstances involved, FAN was guilty
Of accepting Q bride. Falls appeal from
this decision Is pending In the courts.
with the time limit for Ming Of the rec
ord due to expire In about q week.
This seeming anomaly arises from
the fact that under the law q person
intent In giving or accepting the money
must be considered In determining
whether he Is guilty or innocent Of
bribery.
In the case Of Fall, the jury has de-
cided that IN accepting the money
from Doheny the former cabinet ofacer
was iInpelled by corrupt motives.
In the case Of Doheny, the Jury held
that the money was rendered the In
terror head with wholly innocent intent,
with no thought Of influencing FAN In
the OIL lease negotiations then pending
Continued on Page 4, Column s.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-23
PLAN FOR BICENTENNIAL
LACKING AFTER FIVE YEARS
Public Interest Aroused and Three
Memorials Approved, But State Bodies
Mark Time-Only IA of 40 Formed.

While the. George washington BIZ
centennial Commission was created by
act Of Congress near the end Of 1924
and the members were appointed by
President Coolidge q few weeks later,
repeated inquiry discloses that no def
mite plan for the participation Of the
Nation and the public In the celebra-
ton Of the 2o0th anniversary Of WASH
ington's birth in 1882, as contemplated
by Congress- has been adopted by the
commission.
In the last I'VE years speeches have
been made TO arouse the interest of the
public In the washington bicentennial.
Mere recently the commission has
provided for. or aided In projects for,
three permanent memorials to Wash
ington-the Mount Vernon Boulevard.
recently begun: the publication of a
dehnitive edition Of the essential writ
ingS" Of Washington. with. several other
including maps, relating
to him, and . contribution by the Gov
eminent Of $50, 900 to aid the Wakefield
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-23

National Memorial Association TO re-
produce the house in which washing
ton was born.
But, although one complete plan, a
partial plan and numerous scattered
suggestions for the proposed ten-Inonth
Nationwide celebration of the bicenten-
NAL have been laid before the com.
mission at various times during these
1--WE years none has been given ofhcial
approval.
Until quite recently many persons,
including some of the members Of the
commission itself, have feared that
there was danger Of failure from the
national and public point OF view, unless
the commission FASTENED to approve
some plan which would enable the
various States and the District Of Co
lumbia to undertake arrangements for
their parts In the celebration that would
dovetaii into the national program.
With only two or three exceptions
the State commissions and the COM
mission OF the District Of Columbia,
CONTINUED on Page 2, Column 81
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-23
EX-MAYOR DECLINES
TO RUN FOR SENATE
Hampton Moore Of Philadelphia
Favors Francis S. Brown
for Governor.
By the Associated Press.

BY the Associated Press.
PHILADELPHIA, March 22.-Hanp-
ton Moore, former mayor Of Philadel-
phia, announced today that he was not
an aspirant for the United States
Senate and that he favored Francis
Skunk Brown, Philadelphia, former At
torney General Of Pennsylvania, for the
Republican gubernatorial nomination.
Mr.. MooreiS announcement taking
himself outside Of the senatorial race,
leaves the contest to Senator Joseph r.
Grundy, supported largely by State
organization leaders, and to Secretary
OF Labor James J. Davis, backed by the
Philadelphia organization, under the
leadership Of william 8. Ware.
Moore, while favoring Brown for gov
ernor. did not come out for either
Grundy or Davis, merely stating that
both have high qualifications for the