davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04
Corporation News

NEW YORK, April 4.-The following
is today's summary Of important cor
poration news prepared by STANDARD
Statistics Co., Inc, New York, for the
Associated Press.
News Trend.
Financial and trade news Of the day
Is mixed. Brokers loans in the week
ended April 2, as reported by the Fed
eral Reserve Board, increased $14S 200, :
600, the largest expansion of any week
since September, 1929. wholesale COM
modify prices registered a further slight
increase in the week of April !. OF
the eight groups making up the annal-
ist index, four advanced, three remain
ed unchanged and one, metals, declined
finished steel and zinc. Automobile
production in March Is estimated al
4OO, 900 units. This tota, represents an
increase of Is per cent over the Feb
ruary output, but SO per cent lower
than total production in March last
year. Building permits in March in
l25 key Cities" as reported by s. W.
Straus & Co., were SIS per cent greater
than total issued in February. This is
the first month in the past five months
that an increase has been shown COM
PoICu WAOAA PACNONAAS AAAOAAoAAs
The Companies.
American Coal Co. Of Allegheny
County earned $3.50 on common stock
in 1929 VS.. $4.04 in 1928.
Caterpillar Tractor directors approve
sale of $10,000,000 f1ve-year convertible
notes.
Central Railroad of New Jersey, sub
Sidiary Jersey Central Transportation,
with Reading Transportation Co., to
establish new interstate bus service be-
tween New York and Philadelphia.
Engineers Public Service February
net operating revenue up % per cent;
IL months net 43 per cent above year
ago.
First National Pictures to expend
$l7,500,000 on 40 pictures in 1930-193l
period.
General Motors Oldsmobile untitled
orders now on hand total about 5000
cars. Stocks of new cars on hand
equivalent to 80 days supply. Expect
to build 10000 cars in April. Reported
negotiating for control of Omnibus Cor
poration. Opel Works, German sub
sidiary, produced 8,919 cars in first
quarter 1890, against S,456 in like period
Of 1929.
Packard Motor Car announced Pack
ara OleSeI engines hereafter Will De
optional equipment on Ford transport
planes, which are regularly powered by
Wright J-6 engines.
Pennroad Corporation owns 100000
shares New York, New Haven & Hart
ford Railroad stock and 10000 shares
of Boston & Maine Railroad stock.
Phillips Petroleum Co. announces
acquisition of Beard Oil Co., operating
IL service stations, SO retail outlets and
warehouse facilities located in Fort
Smith, Ark, and vicinity.
Pullman, Incorporated, subsidiary
Pullman Co. to reduce rate for a
section occupied by one passenger %
per cent.
Ritter Dental Manufacturing earned
$7.45 on common stock in 1929 VS.. $5.9s
in 1928.
Southern Grocery Stores sales foul
weeks ended March 20 up 1875 pei
cent from year ago; three months sale.
up 239 per cent. Had 408 stores and
1873 meat markets in operation on March
20, 1880, VS.. 400 stores and 181 meal
| markets year ago.
Sterchi Brothers Stores, Incorporated
earned $1.02 on common stock in 1929
In 1928 constituent companies earned
1901 on common shares.
Stone & Webster, Incorporated, plar
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04

The old-time city directory now has
given place to the telephone book.
There Is no mystery about this change,
in view of the fact that G. Stanley
Shoup, chief of the communications
section of the Transportation Division
Of the Department Of Commerce, de-
clares today that in the last year there
was an average Of 64,173,144 individual
telephone calls day, an average Of
one call for every two people in the
United States.
The installation of telephones in late
years has practically revolutioniZed
American business and social life. It
has speeded up the pace of business to
a greater extent than any other factor
and made possible the contamination
of negotiations which in the past would
have required days and weeks to COM
plete.
Growth Of Industry.
The rate of growth Of the telephone
industry and the speed with which adj
ditional subscribers are being added in
dictate that Its progress has only begun.
In the last year approximately 100000
telephones were installed in homes, Of
fees and other buildings. This Is the
largest number ever put into commits
sion in one single year. In addition to
the progress of telephony in the United
States, there has been a remarkable ex-
tension of international communica-
tions, both to foreign countries and to
ships at sea.
At the beginning of 1880 the total
number of telephones in the world was
approximately 34,5O0,00O, of which 90
100000 and more were in the United
States. It Is estimated that So per cent
of the worlds telephones can be reached
khA i.Nc Oh - 9th
in the United States. The average time
for completing a long distance connec-
ton has been halved in the last five
years. The reduction has been from
approximately 7I2 minutes to 22-5
minutes. Errors in local calls in the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04
ON EXTINCT
SECURITIES DEAD
Roland M. Smythe Had In.
teresting History in Bro
erage Business.
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, April 4.-The story Of
the doctor who papered his den with
worthless bonds and later sold the wall
paper for $4,000; the wealthy man
whose estate contained $4,000, 900 in
valuelesS securities; the man who
bought 40 or SO" pounds of old stocks
and bonds to put on campaign-all
these and many more anecdotes Of
Wall Street have been recalled through
the death of Roland M. Smythe, pro-
prietor of a unique business.
Mr.. Smythe, once a member of the
Stock Exchange and q partner in sew
eral Stock Exchange houses, died at
rs, after achieving fame as an expert
on extinct and worthless securities.
All big financial houses and banks
consulted Mr.. Smythe when assets of
estates were found to contain securi-
ties on which no information was avail
able. He once offered a man 81 for
zoo shares Of an old. extinct company.
The holder refused to sell and a few
months later, something having hap
pened to bring the old concern to life,
he sold his stock for $280.O00. That Is
a worlds record appreciation-from 81
to $230.000 in a few monthsl
A Yonkers doctor wanted to paper
his den with bonds. Mr.. Smythe sold
him a few million dollars worth o:
worthless bonds of Pennsylvania coal
company for $40. Later more coal was
found on the old property and the
doctor sold his wall paper for $4,000.
Mr.. Smythe bought securities worth
SIS, 00O, 900 at face value from the es-
tate of a man who had died possessed
Of many more millions in sound invest
ments. They cost the buyer $4,000.
He spent $1,000 in investigating them,
but was able to realize only $4,000 on
their sale.
The aged dealer in aged bonds would
never have q telephone In his of1ce
and for years carried on battle with
the telephone company trying to force
them to list him in the directory as
Roland M Smythe, 2 Broadway, no
telephone"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04
USE OF TELEPHONE INCREASES
RAPIDLY DURING LAST YEAR

last year have been substantially re-
duced from the average Of 2 in 100
calls for 1928.
It no longer requires the extended
period in order to get a telephone In
stalled which was the case even a year
or SO ago. The average now is 81 days
from the time of receipt Of the order.
This is a reduction from Al days in the
last five years.
) Formerly 1t was necessary for the
subscriber who made a long-distance
call to hang up the phone and wait
until notified that the call had been
completed. In the last year more than
70 per cent of the long-distance calls
were handled while the subscriber re-
manned at the telephone. The differ
ence in making q connection between
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04
long distance and local calls was hardly
noticeable in the last year.

long distance and local calls was hardly
noticeable in the last year.
New Construction.
The six companies reporting to the
Department Of Commerce spent $685.
10000 in the construction of new tele-
phone plants and 100000 for the
construction of new manufacturing ia
cilities. In 1880 approximately $780,
000,0O0 will be spent for construction.
During the last year two additional
shOrt-wave transatlantic radio tele-
phone channels were put into operation,
making one long-wave and three short
wave radio telephone lanes. Work
progresses on the new transatlantic
telephone cable, and additional short
wave channels are to be opened between
the Pacific Coast and transpaciflc
points!
The trend to dial telephones making
automatic connections Is still in EVIL
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04
RETAIL TRADE Off
IN ATLANTA AREA
Sixth District Report Also
Shows Wholesale Status
Lowest in Seven Years.
Special Dispatch to The Star.

Special Dispatch to The Star.
ATLANTA, April 4.-The volume Of
retail trade IN the sixth district in
creased in February over January but
was smaller than at the same time last
year, and wholesale trade decreased for
the fourth consecutive month and was
at the lowest level In more than seven
years. Commercial failures declined
In number compared with the month
before, and with the same month last
year, and liabilities were also less than
Tor January but somewhat greater than
Tor February, 1929.
Building at Low Level.
Building and construction activity in
the district continued at low level,
ccntrac: awards in the district as a
whole being SO per cent less than in
January and 1877 per cent less than in
February last year, and permits at 20
reporting cities showing decreases Of
1.3 per cent compared with January and
51.2 per cent compared with February,
1929.
Consumption of cotton in the cotton
States declined in February compared
with January and was less than at the
same time last year. Production of cot
ton cloth by reporting mills In this dis
trict was smaller than during either Of
those periods, and output of yarn de-
clined in February, but was slightly
greater than in February last year.
Production of soft coal in Alabama and
Tennessee averaged smaller in volume
than year ago.
Output of pig iron in Alabama was
somewhat smaller in total volume than
In January because of the smaller num-
Der of days, but the daily average in
creased, and there was an increase over
February, 1929. Activity in the naval
stores industry Is at seaSonably low
level.
Savings Deposits Increase.
There were small declines in dis
counts by the Federal Reserve Bank of
Atlanta between February IL and
March IL and in it's investments in
United States securities and holdings
of bills bought in the open market also
decreased. Holdings of purchased bills
and of United States securities were
greater than at the same time last year,
but discounts were less than half as
large. Cash reserves on March II were
the largest in nearly two years.
Loans and investments of weekly re-
porting member banks also declined
during this four-week period and were
smaller than year ago, and borrow
tngs by these banks from the Federal
Reserve Bank were the smallest on
March IL in nearly two years.
Savings deposits reported by 70 banks
increased is per cent in February over
the month before and averaged 13 per
cent greater than at the end of Febru-
airy, 1929. Debts to individual &C.
counts declined 1873 per cent. compared
with January and were 8.8 per cent
less than in February last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04
STEEL MERGER DEPOSITION.

YOUNGSTOWN, Ohio, April (A1.-
James A. Campbell, chairman Of the
board of Youngstown Sheet & Tube Co.,
testified in a deposition today that
pressure had been brought upon him to
merge with Republic Iron & Steel Co.,
that he did not like the idea" and
consequently negotiated a merger plan
with Bethlehem Steel Corporation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04

erection of 73-story building in New
York financial district.
-Starrett Co., had sac, 000.-
900 unfinished business on books April
8, 1880.
United Securities Trust Associates
liquidating value of stock on April /,
1890, reported in excess of $49.50 vs..
1862 on January 16, 1880.
Warner Brothers Pictures, Incorpo-
rated, to build motion picture theater
in Newark, N. j., with seating capacity
of $500 and costing 100000.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04

dence. About 100000 telephones, or
26 per cent, in this country are now on
q dial basis, and it is predicted In 1884
ABOUT 90 per cent will be so operated.
(Copyriaht, lo30l
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04
FOREIGN EXCHANGES.
fluctuations furnished By W. B. Hibbs d Col
Nominal gold seliins checks

London women are refusing to wear
some of the Paris Spring styles.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04
Reserve District No, 5.
REPORT OF CONDITION
OF TIE
Mount Vernon Savings
Bank

OF Washington, District Of Columbia, at the
close Of business on March ~, 1880.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04

Reserve District No, s.
REPORT OF CONDITION
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04
TREASURY CERTIFICATES.

During a foot ball game at West
Ham, England, recently, a spectator re-
leased duck, which was chased across
the field by policemen, causing much
merriment
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04
REPORT OF CONDITION
OF THE
United States Savings
Bank

OF Washington. in the District of Columbia,
at the close Of business on March ~, 1880.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-04

Initial.
Cons. Pub. Serv......25c =. Apr. rs Apr. 5
Reduced.
Can Brewing. Ltd. 80. .26c @ Apr. Is Mar. 81
Ravens have recently been raiding
hooks In Wales and killing many lambs
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-03

gasoline tax collector when Floyd
E. Williamson, Democratic auditor
Of state, took Office.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-03
To End aCOueh
In a Hurry, Mix
This at Home

To end stubborn cough quickly, it
- important to soothe and heal the in
famed membranes, get rid of the germs
and also TO aid the system inwardly to
help throw off the trouble.
For these purposes, here is a home
made medicine, far better than anything
you could buy at times the cost. From
any druggist. get 21a ounces of Pinex.
Pour this into a pint bottle, and add
plain graduated sugar syrup or strained
honey to fill up the pint. This takes
but moment, and makes a remedy so
effective that you will never do with
out, once you have used it. Keeps per-
tectly, and children like-it.
This simple remedy does three neces-
sary things. First, it loosens the germ
laden phlegm. Second, it soothes away
the Inflammation. Third. it is absorbed
INTO the blood, where it acts directly
on the bronchial tubes. This explains
why 1t brings such quick relief, even
IN the obstinate bronchial coughs
which follow cold epidemics.
Pinex is highly concentrated COM
pound of genuine Norway Pine, CON
tanning the active agent of creosote, in
refined, palatable form, and known
as one of the greatest healing agents
tor severe coughs, chest colds and
bronchial troubles.
DO not accept a substitute for Pinex
Il is guaranteed to give prompt relief
or money refunded.
Advertisement.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-03
THE INDIANAPOLIS TIMES

will had been taken over by the
Cincinnati Enquirer.
At the same time the Enquirer,
which now is the citys only morn
ing newspaper. announced its price
on news stands and streets in the
Cincinnati metropolitan district will
be 3 cents, a reduction Of cents.
Harry w. Brown, publisher of the
Commercial-T Tribune, issued state
ment saying discontinuance of the
paper was only in reluctant sub
mission to stern economic neces-
sity."
The newspaper, which hourisf7ed
under various names since its
founding in the pioneer colony of
Losantville, nov Cincinnati. was
brought into position of national
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-03

cording to Lieutenant-G Governor
Edgar d. Bush.
They will confer regarding party
measures which will be introduced
in the legislature and will discuss
the problem of the reapportion-
ment.
Candidates for the post of presi-
dent pro tenn. Of the senate are ex-
pected to show activity. Among
these are French Clements, Evans
vile; f. Floyd Carrot, Battle
Ground: J. Clyde Hoffman, Indian
apolis, and possibly the veteran.
James j. Nejdl OF Whiting
Leland Fishback. who was clerk
of the senate in 1928 and holds his
appointment until a successor is
elected. again is a candidate for the
post. Fishback lost the post of state
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-03

eminence in post-Civi1 war days un-
der the editorship of Murat Hal
stead, one of the journalistic giants
Of that period.
The Enquirer was founded ninety
years ago, one week after the death
of President William Henry Har-
riSon.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-03
POLICE PROBING SHOTS
Firing of Gun After Car Passes Is
Reported by Neighb0rs.

Bullets that tipped through the
air in front OF 128 East st. Joseph
street early today placed another
mystery before police.
Several neighborS heard the shots
and Miss Irene Thompson. Apart
ment ?. 127 East st. Joseph street.
said she saw a car drive by slowly
and the shots followed. No marks
Of bullets could be found on houses
il the vicinity.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-03
Coroner Probes Death

Coroner c. H. Keever today began
investigation of the death of Oscar
Lang, 40, of 1887 Steele street,
Apartment 3, who died early this
morning at home. Lang is sepa-
rated from his wife, and lived with
his father at the Steele street ad-
dress.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-03
PAPER ISSUES
FINAL EDITION
Cincinnati Enquirer Takes
Over Competition.

By United Press
s CINCINNATI, Dec. 3.-The Gin
cinnati CommerciaI-Tribune, morn
ing daily founded in 1893, issued its
last edition today with announce
ment that its business and good
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-03
C. 0. SENATE
GROUP TO MEET
Majority Faction to Talk
Over Party Problems.

Republican state senators, who
are in the majority in that house,
have been called to meet at the C.
o. P. state headquarters at the Sew
erin at 10 Thursday morning, ac-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-03
STATE POLICE CHIEF
APPOINTS TWO AIDS
Amos Strange of Shoals Is New
Assistant to CARROT.

Assistant to CARROT.
Appointments of an assistant chief
Of the state police and two lieuten-
ants have been announced by
Grover Carrot, state police chief.
Ambrose Strange, Shoals, Second
district Democratic worker, who re-
ceived the backing of Thomas Tag
CART, party leader, is the assistant
chief, and the lieutenants are Guy
r. Sears, Redkey, and Ray G..
Fisher, Lagrange.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-12-03
HAPCOOD CITES
SCHEME TO END
UNEMPL OYMENT
Abolish Party Lines, Profit
System, Proposal of
Noted Agitator.

What can be done for permanent
relief Of unemployment problems in
Indianapolis"
This question was propounded to
Powers Hapgood. noted agitator,
following an address he gave on the
Ills Of America before an industrial
group at the Y. NJ. G. a. Tuesday
night
Here is his answer:
Organize indianapolis labor into
strong unions, preferably industrial,
rather than craft unions, so that
they can be able to demand things
that never come to the unorganized.
Forget the old-line Republican
and Democratic party organizations,
founded purely on political expedi-
cnts, and join or organize a third
party dedicated to the solution Of
economic ills-preferably the Social
lst or Farmer Labor parties.
Abolish Profit System
Then let the indianapolis profess
sional people, or those who live on
incomes, and are ineligible to mem
bership in labor union, show a
marked degree of sympathy and
tolerance toward organized labor
and socialistic aims.
But, most of all, work toward
abolition of the profit system, for
an industrial democracy and more
equitable distribution Of wealth"
Hapgood cited the Columbia Con-
serve Company here as an example
Of practical accomplishment in in
dustrial democracy. He now is en-
ployed there. The plant, owned and
operated by the workers, was found
ed by his father, w. P. Hapgood and
uncle, Norman Hapgood.
Our plant, like all others, has
been affected by the economic de-
preston" the speaker explained.
But instead of cutting the staff
or reducing wages, we are working
shorter hours and devoting part
tine to a group educational pro-
gram.
This is because the workers who
create the profits, share them
among themselves.
Reduce Executives Overhead
Right now, part of the unemploy-
ment could be solved by keeping
workers on and paying them by
cutting dividends and reducing the
tremendous overhead of executive
salaries"
As an example of this he cited
an indianapolis concern which pays
It's general manager $1,000 a week,
good times or bad
This salary could be reduced to
500 week and many workers
taken care of with living wage, "
he pointed out.
In opening the meeting, Hapgood
pleaded for such palliatives as mini
mum wage legislation, unemploy-
ment insurance, shorter working
hours for labor, old age pensions
and health insurance.
He emphasized, however, that
these remedies. in his opinion, can
DC but temporary, and final solution
rests with abolition of the capitals
tic system, founded on profit-mak-
ing.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-17

The explosion at McCrory's 5 and 10
Cent store, which caused the deaths OF
six persons on November 81, is believed
to have been caused by water nam
mer." according to testimony made puo-
lie today, which was given the House
subcommittee on appropriations in con-
nection with the hearings on the Dis
trict budget bill.
Assistant Engineer Commissioner
Donald A. Dawson told the committee
that in the opinion of the majority OF
the experts who investigated the dis
aster. the explosion was caused by the
sudden closing of a hot-water spigot
in some part of the store while steam
was flowing from the pipe. This, ne
explained to the committee, would set
up a reverberation or hammer in the
pipe which would be transmitted to the
large storage tank in the basement with
a force greater in proportion to- the
size of the tank.
When this i1ammering began in the
storage tank, he said, the defectiveIy
welded bottom gave way, releasing 2S0
gallons OF water which was superheated
to temperature of approximately 800
degrees F. AS this water came in con-
tact with the air, according to experts,
a force of about 5000 horsepower was
generated in the vault in from one-tenth
to one-quarter of a second.
when you realize that" Maj. Davl-
son told the committee. you have no
Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-17
GIALDINI ARRESTED
BY ITALIAN POLICE
Missing London Stock Crash Fig
ure Caught in
Milan.
By the Associated Press.

BY the Associated Press.
MILAN. Italy, March 17.--At the re-
quest of the British authorities, John
Gialdini. missing director of the HAIRY
group of companies which failed in
London last Fall, was suddenly arrested
by Italian police Saturday night. Gial-
DIM had fled to Italy just before the
crash of the HAIRY shares.
The arrest, however, does not neces-
sarily involve extradition.
Gialdini will probably be brought to
trial in Milan.
When Clarence HAIRY and three of
his fellow directors were brought up
for trial last January, in connection
with one of the most staggering coll
lapses the British financial world has
known since the war, Sir William
Jowitt, the attorney general. declared
he had hoped to have Gialdini in the
dock with them. The losses in the
HAIRY crash amounted to about S57,-
100000. HAIRY is serving a sentence OF
IA years Imprisonment.