davidaulloa/AmericanStories huggingface dataset:
La gaceta., 1930-09-16
NOTICIAS De
INTERES LOCAL

Dos j6venes, ell mayor de 10
amos, fueron aver detenidos
por ell policia A. L. Berry, de
la secci6n de transito del con-
dado, acusados de haber asal-
tado y robado al dueno del ga
rage Park View, situado en-
South Howard 1407, y haber
tratado de robar en- ell hotel
Olive, la semana pasada.
Howard R. Carlton, de 10
amos, ell mayor, confes6 haber
sido ell hombre que asaltara a
Ivy Roberts, de csc garage,
llevandose $40 de la GAIA re-
gistro. Tambien confes6 ell
frustrado asalto contra ell no.
tel Olive.
Warren st. Clair, de 16
amos, que aparece como com :
panero del principal acusado,
dice que el no intervino para
NADIA en- esos asaltos y que
Carlton lie llev6 al hotel sin
darle a conocer sus intencio :
mes.
Mega que haya tornado par
teen ell asalto y robo en- ell ga
rage Park View.
Ayud6 a Berry en- ell ares
to Ell diputado Sheriff..
La detenci6n de Carlton Sc
hizo en- ell puente de Candy y
la de su amigo en- Clearwater.
The Washington times., 1930-05-22
c, COLBY FIGHTS
TALk|E COST

The American Telephone and
Telegraph Company has charged
motion picture theater owners
$25, 100000 more than they would
have had to pay independent
manufacturers for sound equip
ment, it was charged before the
Senate Patents Committee yes
terday.
Appearing before the committee
in behalf of the Dill bill to make
patents unenforceable if used TO
violate the antitrust laws, C. c..
Colby, chairman Of the Audio
Research Foundation, also
charged that the A. T. g. T. has
forced the theater owners to agree
to pay an additional $5O,000,000
for service" during the next 10
years.
2 Ernest R. Reichmann, of Chi
cago, general counsel for the
foundation and of the Radio Pro
tective Association which has car
ried on a campaign against the
So-called "RNdio Trust" said Con-
gress must act to curb the illegal
use of patents in building up
monopolies.
Leroy J. Williams, director of
patents, of the Grisby-Grunow
Company of Chicago, declared that
remedies provided by the Dill bill
are necessary for the protection of
independents against illegal
patent combinations"
The Washington times., 1930-05-22
BLuefieLd Natural
Gas Line Started

CHICAGO, May 21.-The Blue
field Gas and Power Company,
of Bluefield. w. Va, subsidiary of
Central Public Service Corpora
ton. has just begun construction
of a new artificial gas line to
Bluefield. Va, across the State
line, Albert E. Peirde. president
of the parent company, an
nounced today. The line is being
constructed wi h high-preSSure
pipe in order to accommodate
more readily change to natural
gas service in the future.
Labor on the Bluefield project
is being performed by the gas
company's own crew of ditchers,
head and back welders and other
artisans. 1t will take practically
so days, including the building
of a compressor station annex,
to complete the work. The new
line will cost in excess Of $4,000.
The Washington times., 1930-05-22
LIFE INSURANCE
SALES GAIN

HARTFORD, Conn. May %.
Life insurance sales in the United
States continue to show sub
stantial increases. In every
month so far in 1880 the country
has paid for a larger volume of
insurance than in the same month
a year ago. In March a new
high record was set for sales
in a single month.
Figures just received for April
show that in the past month the
gain has continued and sales are
4 per cent greater than in April,
1929. The Life Insurance Sales
Research Bureau at Hartford,
Conn, comuutes statistics on
life insurance sales and issues a
report every month. These figures
are based on the report of 78
companies, which represent 88
per cent of the total legal reserve
ordinary life insurance in force
in the United States.
All but two of the nine sections
of the country increased pro-
duction in April. The largest sec
tional increase for the month was
13 per cent. this was in the
Mountain States. Several States
recorded unusually large gains in
April-Vermont. Iowa, Delaware
and Montana each gaining over
80 per cent.
> In the first four months of the
year the volume paid for was S
per cent higher than in the same
period a year ago. This is not
due to unusually large gains in
certain sections but to generally
increasing sales.
The Washington times., 1930-05-22
BANKERS SEEK
7 D AVOID
CRASHES
Analysis Of Money Conditions
Would Help Ban Most
Disasters, Report Says

NEW YORK, May 22.-Studies
of the New York money market
and the condition Of the national
income available for absorbing
new securities, by q qualified COM
mission representing all inter
ested elements are possible on
the basis Of available data along
lines that should go far toward
averting market disasters, it is
declared in a report of the com;
merce and marine commission OF
the American Bankers ASSocia-
ton made public here today by
the chairman, Fred I. Kent.
American business has been Sc
riously affected by three prin-
cipal causes, the report says,
naming overproduction, uncer
tainty caused by prolonged delay
in tariff legislation and over
issuance of securities beyond the
power of the public to absorb,
accompanied by extraordinary de-
velopments in the stock exchanges.
Cites Loan Increase
The report declares further:
Brokers loans increased half
a billion dollars in a few weeks
during last September and OctO-
ber because of the issuance OF
securities which could not be alb
sOrbed by the public and had to
be carried.
"There Is no question but
that If the brakes had been put
on the issuance of new Secur-
tiles in time much harm could
have been prevented. In order
to put on such brakes it would
only have been necessary to
place the facts before the in
vestment bankers, for it Is not
conceivable that they would
have deliberately arranged the
issuance of new securities If they
could have seen that the ma
tiOnaI income available for their
purchase had been more than
taken up and that attempted
distribution was certain to be
attended by catastrophe.
mo one apparently has at
tempted to measure the ability
of the United States to absorb
new issues, as its potential
wealth was so great there seemed
to be no limit to the ability Of
people to take up securities.
The Washington times., 1930-05-22
SENATE PASSES
RESTRAINING
RAIL BILL "
Senator Couzens' Resolution
will Restrain |. C. C. Ap-
provaI Until 1881

BY a vote of As to q the
Senate yesterday passed the
CouzenS resolution to suspend
all railroad mergers and conso,i.
dations until March 4. 1881. to
allow Congress to pass new laws
relative to mergers.
The resolution had been under
discussion for several days and
instructS the Interstate Commerce
Commission to hold UP all pend
ing and proposed railroad mergers
until the necessary legislation can
be enacted.
The only mergers allowed under
the terms of the resolution would
be where carriers agreed to main
tain ali existing through routes
and trade channels, to prevent
the dismissal of any employees
and to compensate all employees
for any losses or expenses in
CURED by such consultations.
Employees Protected
The provisions regarding pro
lection of employees grew out of
a protest from labor union leaders
against the proposed Northern
Pacific-Great Northern consolida,
ton. This merger was also op-
posed on the ground that it
eliminated competition between
two strong parallel competing
roads, with serious damage to the
communities now being serViced.
Representatives Of the railroad
brotherhoods argued that huge
losses were being borne by rail
road workers due to conSolida-
tions. They argued that over
100000 employees had been dis
missed in merging of roads in
the past with tremendous finan-
cial losses, and without gain 20
the public.
They insisted that consolida-
tions in the future should carry
some guarantee against sucn
losses to the employees and some
assurance of public benefit.
Short Lines Oppose
The esolution was opposed by
representatives of the short line
railroads on the grounds that it
would hurt weaker lines. 1t was
said that short lines would not
be purchased by the powerful rail
roads under such conditions and
that it would require a general
national plan of consolidation be-
fore such mergers would occur in
the future if the resolution was
adopted.
The measure carried one pro-
vision prohibiting consultations,
unifications or the exercise Of
common control over railroads by
holding companies. This pro-
vision met with widespread ap-
proval, even the representatives
of railroad companies, not owned
by such holding companies, ap-
proving it.
The Washington times., 1930-05-22
JAMES A. FARRELL

Manufacturers Association of
New York-There are more per,
sons employed now than last
October, a fact that augurs i'm
provement all along the line of
business and manufacturing.
Business is slowly getting back t7
a sound basis.
Mexico Gaining
FRERICO GRIESE, head of the
public relations department Of the
Banco Nacional de Mexico-Con-
fidence of the people of Mexico
in MeXico'S industrial future is
being rapidly restored and we ex.
pect the country to be on a sound
economical basis within a COM
paratively short time.
GEORGE BIRK, first vice preSi-
dent of the United States Cham
her of Commerce, johannesburg,
South Africa While there is a
depression in South Africa at pres
ent the economic condition of the
country is sound and a general
recovery will r.mediately follow
the breaking of the drought,
which brought about the depres.
sion,
The Washington times., 1930-05-22
Producers
Facing Biz Suit

NEW YORK, May 81 u.N.S0
The Motion Picture Producers
and Distributors of America, Inc,
was named defendant today in
suits for $2,744,250 begun under
the Clayton antitrust act by
the F. j. RembuSch enterprises
and the Capitol Amusement Com
pany, both of Indianapolis. Sum
monSeS and complaints were filed
in the U. S. District Court.
The action grows out of the
alleged enforcement by the de-
fendant of the So-called uniform
exhibition contracts and compul-
sorry arbitration provisions.
The Washington times., 1930-05-22
STEEL AWARDS
INCREASE

NEW YORK, May %. - Struc-
tural steel awards in the past
week, according to the Iron Age,
totaled about $1,000 tons, as com
pared with $4,000 tons in the
preceding week, but were swelled
by the award of 10000 tons for
an office building at Pine and
Wall Streets, New York, for Henry
L. Doherty & Co.
Other outstanding awards were
4300 tons for an Office building
at 78 Broad ST.. New York; $500
tons for a bridge for the Santa
Fe railroad over the Illinois River
at Chillicothe; 1000 tons for a
plant building for the st. Joseph
Lead Company, at Monaco, Pa;
1900 tons for a sub-station for
the Commonwealth Edison Com
pany. Chicago; 5000 tons for
an office building in Kansas City.
Mo, for the Kansas City Power
and Light Company, and 1900
tons for a highway bridge at
Clarendon, Ark.
New work that came into the
market totaled about 30,500 tons.
of which 4,500 tons is for an
addition to the R. H. Macy &
Co. store, New York; 1000 tons
for a Federal court and postof
flee building in Brooklyn; 5000
tons for pier sheds at Jersey
City, N. j., for the Pennsylvania
and Erie railroads: 5000 tons for
a highway bridge at Dallas, Tex.
and 1850 tons for highway
bridges for the State of Pennsyl-
Vania.
The Washington times., 1930-05-22
c. & D. RAILROAD
NET Up

Chesapeake and Ohio railway,
of which J. J. Bernet is presi-
dent, reports net income, or
surplus after charge for the four
months ended April 80, of $8,
990,577, after charges and taxes,
as against a net income of So,
415,838 in the corresponding
period of last year.
Net income for the four
months is equal, after allowing
for dividend requirements on the
612 per cent preferred stock, to
$6.05 a share, earned on 1,483,-
1856 shares of common stock out
standing. In the first four
months of last year the net was
equal to $7.11 share. earned
on 1,180,940 shares of common
stock.
Gross income for the first four
months of the current year
amounted to $39,007,688, as
against $4o,835,330. while net op-
Grating income amounted to $10,-
190,112, as against $10,769,204 in
the same 1929 period.
Net income. or surplus after
charges for the month of April,
amounted to $2,372,326, after
taxes and charges, as against
$1,592,793 in the same month
year ago.
April gross totaled $9,395,336,
as against $9,502,538 in April of
1929, while net operating income
for the month was $2,298,046, as
against $2,172,881 last year.
The Washington times., 1930-05-22
CORN EXCHANGE
OFFERSRIGHTS

NEW YORK, May 21.-Rights
worth in the neighborhood of
$13,50O,0OO were granted stoc%
holders of the Corn Exchange
Bank & Trust Company, today,
in the form Of an offering to
subscribe to new stock at $10O
a share on the basis of 2312 per
cent of present holdings.
In order to provide for the
sale, directors of the bank au-
thorized an increase in capital to
100000 shares from COS, 900
shares, par $40. The offer is made
to all holders of record June IL
and is subject to the approval
of stockholders, who will meet to
ratify the plan June 2.
OF the new stock. 142,175
shares will be required to fill
the subscription, if all stockhold.
ers exercise their rights. The
balance of 1925 shares and any
of the unsubScribed stock will
be sold at public auction. Prac.
tical shares, the bank announced.
will not be entitled to dividends,
Subscriptions must be paid on
or before July 8.
At the prevailing price for
Corn Exchange stock in the un-
listed market. the rights have a
value, of $22.25 a share on a
100-share basis. They were quoted
in the market % and 26.
Following publication of the
offer Of rights new Corn Ex-
change stock spurted a half dozen
points todOy. No reason for the
increase was stated.
The Washington times., 1930-05-22
FARRELL FINDS
TRADE UNH|T
IN SLUMP
President of U. S. Steel
Sounds Note of Optimism
at Foreign Trade ParIey

LOS ANGELES, Calf, May %
UN.SJ.-Two thousand delegates
and visitors yesterday heard James
Farrell, president Of the United
States Steel Corporation strike q
keynote Of optimism in the speech
with which the steel master
opened the seventeenth annual
foreign trade convention here.
American merchandising, Farrell
asserted, had not been affected
adversely by conditions which
slowed international commerce
in general.
Three Factors Listed
After discussing the 1929 stock
market collapse, Farrell set forth
three factors which had most to
do with present none too stable
world marketing conditions as:
/. wering of commodity
prices through overintenSive ef.
forts to dispose of products in a
saturated market and because of
the development of competition
beyond the stage of due regard
for production costs.
2. Lowering of prices, brought
about by money market conditiors
of the past two years.
3. A sharp drop of coffee, cocoa,
rice and rubber prices in the parts
of the world where each of these
commodities is raised. brought
about by long continued and eco
nomically unsound effort to main
tain an artificial price through
governmental action.
Others Optimistic
Other world leaders of business
outlined prospects of many and
varied phases of commercial ac-
tivity which they represent
JAY C. HUSTON, American
consul general at Shanghai-De-
spite civil war during three.
fourths of last year, foreign trade
of China actually increased in
1929. The latest estimate of
American imports and exports to
and from China for the IL
months is 100000 900 gold.
HUGH A. HOLMES, chairman
and treasurer of the American
The Washington times., 1930-05-22
AGREED
FOR.2S SHIPS

The Shipping Board yesterday
authorized construction loans of
SIS, 100000 to aid in building the
two largest merchant ships yet
contracted for in an American
shipyard. The vessels of 10000
tons each, will be built for the
Transatlantic Steamship Corpora
ton and the North Atlantic
Steamship Corporation, Subsidi-
aries of the United States Lines,
Inc, by the New York Shipbuild-
ing Company at Camden, N. j..
The ships are designed for the
North Atlantic-Continental Euro
pean and neutrality-suspicious.
range service of the United
States Lines. Their construction
will not have any bearing on the
agreement made by the U. S.
Lines, at the time the line was
purchased, to build two $4,000
ton express liners Of 28-knot
speed for the New York Channel
ports run. These will involve
around 100000.
Similar in type in the trade for
which they are designed, &C
commodations will be provided
for 600 first class, 400 tourist,
and 200 third class passengers
These loans will be repaid in
20 annual instalments with in
terest, payable semiannually, at
the minimum rates provided in
the JoneS-White act.
Loans of $15,412,500 in aid of
building six combination pas
Senger cargo vessels for the
United Mail Steamship Company,
a subsidiary of the United Fruit
Company, of Boston, also were
authorized by the board.
The Washington times., 1930-05-22
Soft Coal Output
DROPS for Week

The total quantity of bitumin-
Gus coal mined in the United
States during the week. ended
May IT, according, to, Figures from
the National Coaf3 Association
based on preliminary car loading
reports, was, 8,250,OO0 net tons.
During the corresponding week
of 1929 output totaled 8,9S9,000
net tons.
The Bureau of Mines reported
tonnage produced during the
week ended May 8 as 1885 900 net
tons, and during the week ended
May 10 as 8,293, 900 net tons.
The Washington times., 1930-05-22
c. &P. GROSS UP
FOR APRIL

Telephone operating revenues
in April were $740,501, with op-
Grating expenses of $53O,O22, the
report of operations of the CheS-
apeake and Potomac Telephone
Company to the Public Utilities
Commission of the District of Co.
lumbia shows. Net revenues after
deducting taxes and uncollectible
were $157.285.
For the four months ending
April 80, the company's operating
revenues amounted to $2,867 ,072.
Operating EXPENSE for this
period we're $2,107.24O, making
net revenues after deducting
taxes and uncollectible $559,513.
In 1929, operating revenues for
the first four months were
$2,801,222, with expenses of
$1,978,451, making net revenues
after deducting taxes and un-
uncollectible, $613,275
Taxes for April amounted to
$50,216, which was an increase of
$2,706 over the taxes for the same
month last year.
Gross additions to plant and
equipment in the District OF
Columbia for the four months
ending April 80 were $1,458.797.
Retirements during this period
were $558,534, making net addi-
tions $900,263. Net additions to
plant for the IL months ending
April 80 amounted to $3,698,625.
Washington was served by 161,-
772 telephones at the close of
business April 80. During the
month 726 telephones were added
to the system. Telephone users
in Washington made 17,837,700
calls during the month
The Washington times., 1930-05-22
governor to close the exchange
on Saturday May 81.
u, 8, Tobacco

governor to close the exchange
on Saturday May 81.
u. s. Tobacco
All Of the U. S. Tobacco COM
mon which had been overhangnig
the market since last fall is said
to have been disposed of within
the last couple of days. by sale
to an investment trust. The
dividend rate is 81 a share and
net for 1929 was reported as
1921 a share, after reduction of
50 a share to provide for special
reserves. The stock is closely
held, and atempts to bring out
part of it have failed. Only
475,850 shares are outstanding.
There will be a drop in brokers'
loans this week, it is predicted,
but such reduction can hardly be
construed as a bullish sign. A
sharp rise in loans would indicate
renewed speculative activity and
act as bullish factor.
General M0C0rS
Reports that Morgan interests
were bullish on General Motors,
and the strength of the stock
around the SO level brought good
buying into that issue yesterday.
Trading was heavy and when the
selling drive in the last hour de-
pressed the price, it was only
few minutes before strong sup
port came in to boost motors 20
a figure very near the closing
price of the previous day. Judg-
ing from current reports on the
company and on the quality of
the buying which has appeared,
I am inclined to favor purchase
of the stock.
The Washington times., 1930-05-22
PITTSBURGH PRODUCE

PITTSBURGH, May 22.-Butter.
Prints, 4204212c; tubs, 41@42c;
local tubs. 39040c.
Eggs-White, 29@30c; current
receipts, 24@25c.
Live poultry Hens (heavy)
$50; hens Qight) 34c; roosters,
12@13c; springers, 24@27c; broil-
ers, 30@33c; ducks, 18@25c;
turkeys, 18@25c; geese, 100 12c.
Observation-Disclosures (PaD 3.15
@3.20 150 lbs); cabbage, 1900
200 (buSheD.
The Washington times., 1930-05-22
$4O3,938 Profit
ShOWn bY FOpDer

Fokker Aircraft Corporation
reported a net profit for the
year ending December 81, 1929 of
$403, 1913, equal after dividend re-
quirements on the preferred stock
to 81 cents a share on the 9S6
common shares outstanding at
the end of the year.
The Washington times., 1930-05-22
Wool GrOWers Join
National Grouping

LEESBURG, Va, May 22.-The
United Wool Growers Association,
Inc. of Baltimore, Md, has re-
ceived application for member.
ship from wool growers of Lou
doun, the thirty-second county in
Virginia to join the regional
group, comprising Pennsylvania,
Maryland, West Virginia, Virginia
and States South, a part of the
National Wool Marketing Corpo-
ration.
The Washington times., 1930-05-22
American Bosch
ShOLUs Net Loss

The American Bosch-Magneto
Corporation reported net loss
of $155,526, for the quarter end
ing March 81. This compares
with net profit of $223,192
equal to $1.08 per common share
on the 207,399 no par shares out
standing in the first quarter of
1929.
The Washington times., 1930-05-22
Katy Line Votes
81 on It's Common

NEW YORK, May 81 QNSO.-
Directors of the Missouri Kansas
Texas Railroad today declared an
initial dividend of 81 share on
the common stock. payable to
stock of record June 5.
The Washington times., 1930-05-22
DULL TRADING
TOCONT|NUE,
HE SAYS ]. .
Neither Bulls Nor Bears Lead
Market; Long Pull Buying
Advised on Present Mart
BY THE SPECTATOR

The selling drive that hit the
stock market after the turn of
the final hour yesterday met with
little success. Heavy support buy.
ing was thrown in and prices
climbed quickly from the lows of
the day. The close showed most
leading issues quoted at figures
slightly below Tuesdays final
quotations.
I would like to be able to tell
you that the last minute rally
signified the return of strength
to the list. That, however, is
impossible under existing circum-
stances.
The best informed people in
Wall Street claim that the next
month will be characterized by
a shifting market, a period of re-
adjustments, price confusion and
dull trading, with little progress
on either the up or down side.
No one is particularly bullish.
A few are very bearish. But the
concensus of opinion is that we
will experience, during the next
few weeks, a dull market with
no definite trend.
believe stock prices are low
enough to warrant buying for
the long pull. For the most
part though, I think the next
month will bring little trading
except "scalping" of small profits
on quick trades. 1t is a danger.
Gus market for day-today traders.
Steel Demand Dull
Weakness of demand for steel
is emphasized in the weekly trade
reports. Everyone is wondering
whether the slackness is due to
decline in consumption or hand
to-mouth buying for purposes of
penny-pinching. The Iron Age
is optimistic, claiming that. a
turn is not far away" in the
price trend. The automobile
business must show great inn
provement before steel companies
can issue bulliSh statements.
The influence of the motor
group on the general market was
demonstrated by General Motors
yesterday This stocks rise was
the only bullish influence.