davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-04-05
A VOTELESS
WASHINGTONIAN.
Editor Times:

Editor Times:
Knowing your interest in the
disabled veterans of the World
War, and knowing you believe IN
a square deal for said veterans,
to which they are justly entitled,
but are now denied through a
maze of red tape and discriminat-
ing laws. We appeal to you for
swift action at this time for sup
port of the Rankin Bill, H. r.
1925, which provides for the ex-
tension of the time for service
The Washington times., 1930-04-05

LETTER TO EDITOR
Editor, Times:
After reading in the local press
the many stories of the many
Investigations conducted by the
office of the United States At
torney, Investigations which have
collapsed of their own weight
apparently, it occurs to me that
it might be we'll to turn the spot
light of publicity on this office
and find out just where the
trouble may be.
The eVaSive manner in which
certain of the assistants who
handle the many odd investiga-
tions seems to be entirely wrong
in my opinion as believe that
frank and open statements to
the press would tend to give
the public correct information
in place of a great deal Of conjec-
ture and speculation.
Rover and Burkinshaw in my
candid opinion are about in the
same relative position in their
offices as Major Henry Pratt,
superintendent of police is in his.
Pratt as Mr.. Saxon wrote several
days ago does not seem up to
his business of handling his own
men and administering his office.
The same is true in my own
belief regarding the prosecutor
and his assistant.
Keep up the good work you
started some time back and let
us see if it will be possible to
sweep the city clean and put in
office competent prosecutors and
police officials who have the
knowledge and ability to do their
work we'll in place of the assort-
ment we now have in the most
important positions in the local
government.
LUD e. JENSEN.
The Washington times., 1930-04-05
SCHooLMEN TO DINE

The Federal Schoolnan Club
will hold a banquet this evening
at the Roosevelt Hotel. A. l.
Howard is in charge of arrange
ments.
The Washington times., 1930-04-05

Editor, Times.
I cannot write you a letter about
the Playground and Recreation
Association of America without
being aware that there are other
letters on your desk, perhaps in
this very mail, presenting other
causes which may have a larger
claim on your generosity ana
time. But I cannot rest until I
have presented to you the needs
of this Association.
Every day you read of a child
struck by a motor car while play
ing in the streets. In 1928 alone,
at least 1928 persons were in
jured in this way. Most OF these
were children and far too many
Of the cases were fatal. You re-
cognize a child's right to play
and to a place to play in, and
realize that our rapidly congest-
ing cities make this more and
more impossible. Therefore, you
must have a corner in your heart
anu yOu1 POShCGDOOh AOA GA CAS0S
citation whose principal work is
multiplying the number OF places
where children can play.
Like all such organizations, it
has practically no revenue nor
means of paying its expenses ex-
cept by voluntary contributions.
I know that the work of the
Playground and Recreation Asso-
citation of America is greatly
needed, that it is doing its job
that it has helped Washington,
that the men behind it are deter
mined and unselfish, that the
money subscribed is spent to
further its work, and that it
already has a surprising string
of achievements to it's credit.
DOROTHY r. MILLS.
The Washington times., 1930-04-05
STORMS LASH SPAIN

MADRID, April 4 UN.SD.-
Terrific storms swept the coast of
Spain today, necessitating closing
of Ferrol and Vigo harbors. Sew.
eral fishing boats are missing.
The Washington times., 1930-04-05
BANK STATEMENTS
REPORT OF CONDITION
OF the
Washington Savings Bank
RESOURCES

Of Washington, in the District Of Co
lumbia, at the close of business
on March 27, 1880.
The Washington times., 1930-04-05
DOROTHY r. MILLS.
1920 18th st. N. w.

Editor, Times:
have noticed recently in your
paper a great deal of controversy
appears to exist as to a good
location for an airport for Wash
ington. I am just one of those
individuals who is not quite in
an analogous situation as was the
unfortunate Nathan Hale for I
am citizen of a country. which
The Washington times., 1930-04-05

/. Loans and discounts.... 1441.s77 ss
. Overdrafts ........ 2s5 s5
ment securities owned. 1908 Os
securities owned ..T..... a1s.s2s.O
6. Banking house, $4,000:
s12.IS5 oS ............. s71sS Os
7. Real estate owned other
than banking house S9907 eS
Q Cash and due from banks 152,91S IS
10. Outside checks and other
cash items .............. 4eV 10
IA other assets ,.,..,.. $40 SO
Total .............. s17sss as
LIABILITIES
Is. Capital stock paid in.... 800, 200 90
is. Surplus ............ $4,000 90
II. Undivided profits--net.. 1911 81
21 Due to banks, including
certified and cashiers
checks outstanding .... 2ss 81
g. Demand deposits ..... s61,612 so
23 Time deposits ....... 422,41s rs
Total ................ s17,s3s st
District Of Columbia. SIS:
I, THOMAS f. FARRELL, president
of the above-named bank. do solemnly
swear that the above statement 10
true to the best OF my knowledge and
belief.
THOS. E. FARRELL.
President.
Subscribed and sworn to before me
this 3rd day of April. 1880.
(SeaD HELEN F. INGERSOLL,
Notary Public.
My commission expires Oct. s, 1882.
Correct-Attest:
RALPH P. GIBSON
JOS. A. DAILY
GEO. J. OHANIDES.
Directors.
The Washington times., 1930-04-05

City or suburban homes offering you
many long wanted pleasures are listed
for sale in Times Classified Ads.
The Washington times., 1930-04-05
BANK STATEMENTS
REPORT OF CONDITION
OF the
International Exchange Bank

or Washington, in the District of Co.
lumbia, at the close of business on
March 27, 1880.
The Washington times., 1930-04-05

state of Washington. d. C., IS: wv 40
l. Thomas ]. Groom, Cashier of the
above-named bank, do solemnIy swear
that the above statement is true TO
the Test OF my knowledge and belief.
THOMAS J.aGROOM.
Cashier.
subscribed and sworn to before me
this 4th day of April 1880
HARRY s. WOLF.
Notary Public.
NJ D. ROSENBERG.
Ellie sHEETZ,
ALEXANDER WOLF.
JOHN NJ RIORDON
Directors
The Washington times., 1930-04-05
BANK STATEMENTS

Reserve District No.
REPORT OF CONDITION
OF The
Park Savings Bank
The Washington times., 1930-04-05

or Washington in the District Of Co.
lumbia, at the close of business
on March 81, 1880
The Washington times., 1930-04-05

Correct-AtteSt:
CLARENCE F. NORMENT
GEORGE L. STARKEY
JAMES TRIMBLE
-. GEORGE P. SACKS
EDWIN C. BRANDENBURG
MORRIS E. MARROW
ARTHUR j. MAY
JOHN @. MEINBERG
The Washington times., 1930-04-05

OF Washington, in the DISTRICT Of
columbia. at the close of business on
March 27, 1880.
The Washington times., 1930-04-05
BANK STATEMENTS

Charter No. 1858. Reserve District No.
REPORT OF CONDITION OF THE
Liberty National Bank
The Washington times., 1930-04-05
BANK STATEMENTS
REPORT OF CONDITION
OF the
Bank of Commerce & Savings
Washington, ID. c.
At the close of business on March
27, 1880.

RESOURCES
I. Loans and discounts. 81 ,466, 46s SO
2. Overdrafts ............ 3S 81
United States Govern
ment securities owned. 1000 90
4. Other bonds. stocks. and
securities owned. ....... es4.72S 81
6. Banking house, $685.
449.49; furniture and fix
lures. s29,s8s.68... 293. 2Ss IL
7. Real estate owned other
than banking house. -. 44.ss4 ss
9. Cash and due from
banks .................. 2O7.127 O2
10. Outside checks and other
cash tems.............. 2,114O7
II. Other assets. 575 81
Total I2,24s. 700 10
LIABILITIES
IS. Capital stock paid in..S 100. 600 90
10. surplus ................ 1855 900 90
-. GndiVided profits-net. 34,4S2 SO
1s. Reserves for dividends,
- CONTINGENCIES, etc. ....... 5000 90
19. Reserves for interest,
taxes. and other ex-
penses accrued and un-
., paid :...;.......:..:.:. 2.5ss 81
ing certified and CASH
- iers' checks outstanding. SO.2sO as
~ demand deposits ....... S73 O9S61
a. Time deposits .......... 1000 7S4 96
d. Other Liabilities ........ 29. 90
The Washington times., 1930-04-05
BANK STATEMENTS
Charter No 3425 Reserve District No.
REPORT OF CONDITION OF THE
NATIONAL BANK OF WASHINGTON

Washington in the District of Columbia at the close of busi
on March 27, 1880.
The Washington times., 1930-10-20
DEFER BUYING,
BROKERS URGE

Further selling and lower prices
was forecast in brokerage circles
today. The deferring Of purchases
until such time as the market
gives definite evidence of having
reached stabilization levels was
strongly urged.
Today's short session is bound
to be faced with heavy selling
presSure.-H o r MELLOW Err &
WEEKS.
Time presents excellent oppor-
tunitieS for the accumulation Of
dividend paying issues in leading
companies. M. j. MEEHAN &
co.
See no more good reason for
selling stocks here than for buy
ing stocks a year ago at this
time.-BAAR, COHEN & co.
Present indications point to
lower prices in both rails and
utilities.-EMANUEL & CO.
Would not fail to acquire some
Of the attractive buying bargains
available.-TOBEY & KIRK.
Think new trading opportuni-
ties can probably be withheld for
more favorable levels later-E. F.
HUTTON & CO.
Would defer new commitments.
OTIS & co.
There is no inducement to buy
stocks.-CUSICK, KENT & CO.
The Washington times., 1930-10-20
AMERICA
SENDS GOLD

Gold to the amount Of $19, 9,000.-
900 has been or will shortly be
shipped to this country by the
principal banks of Argentina and
Brazil, dispatches stated yester-
day.
The Banco Nation de Ia Argen-
tina was reported to have def
nitely decided to place here
100000 gold pesos, about
100000, drawn off from the
conversions funds in an effort to
stabilize exchange. The sum will
be further increased, if necessary
the advice indicated.
A, shipment of $15,000,O0O from
the Bank Of Brazil has left that
country for New York with the
equivalent of another $500, 900
going to England, according to
Rio de Janeiro cable.
The purpose of the North
American shipment was not an
nounced, but guesseS were that it
was to pay for supplies and pos
sibly for munitions in the govern
mentS attempt to suppress the
revolution.
The shipment from Brazil In
creases the amount either on the
way to this country or engaged
for shipment to $29,O0O,000, Of
which 100000 is coming from
Japan and the remainder from
Argentina.
The Washington times., 1930-10-20
Financial Market Ne1 Stocks Bonds Commodities and Comment
Stronger Firms to Defeat
Their Competitors

breaks down because they try to
keep prices UP and some pro-
ducers want to make more money
than the agreement allows by
producing more oil.
The only way to shut down pro-
duction effectively (and legally
is to let market prices fall ac-
cording to the law Of supply and
demand. Low oil prices make 1t
Improbable to drill more wells.
They remove the incentive to
produce.
OF course, low prices hurt for
q while. But that is natures
remedy, and it gets results. This
is why we may begin to get hope
full about the oil industry, now
that prices are being cut.
Oil Pooling Not Good
All the talk about "conserva-
ton" Is, in this case, bunk. In
the first place, there is plenty
Of oil, and no prospect Of short
age exists. In the second place,
the best way to conserve oil is to
shut down production by the
action Of low prices. Let over
production work its own cure.
In my opinion, it is q bad
thing for our Government Estate
or FederaD to encourage this oil
pooling and the futile effort to
restrict production and to main.
tain prices. It is an unwarranted
interference with individual initia-
tive and q violation Of the law
against restraint of trade.
Recent signs that the scheme
Is breaking down and that price
cuts are being made should be
welcomed by those who hold good
oil stocks.
The really strong oil companies
will come out Of the competitive
struggle stronger than ever. 1t
would be a good thing for the
oil industry to eliminate through
competition a good many Of the
weaker companies.
The stocks Of the weaker oil
companies, however, should be
avoided.
The Washington times., 1930-10-20
MERGER
SUIT END NEAR

YOUNGSTOWN, Ohio, Oct 20
UN.S0.-The last act Of the
billion-dollar suit over the merger
Of Youngstown Sheet and Tube
Company with Bethlehem Steel
Corporation began in Common
Pleas Court here today when
opposing started closing argu-
mentS before Judge David G.
Jenkins.
The summation probably will
require at least q week.
Closing arguments, the ma
terial for which was drawn from
the 1857 typewriter pages Of
testimony and 642 exhibits pre-
sented during the 13 weeks Of
the merger trial, will be limited
merely by the good taste" of
the attorneys, according to Judge
jenkins.
The Washington times., 1930-10-20
CRUDE O|LPR|CE
IS LOWER

The average price Of crude pc
troleum in 10 producing fields was
lower last week at $1.456 a barrel,
compared with $1.49O a barrel the
preceding week. The average for
the corresponding period last year
was $1.652 a barrel, according to
the Oil, Paint and Drug Reporter.
Gasoline at the refineries was
unchanged last week from the
previous week at 6.52 cents a gal
Ion at four principal refining cen
ters. Service station prices at 10
leading markets were also un-
changed last week from the previ-
Gus week at 20.45 cents a gallon.
Domestic crude oil production
from January / to October 18 was
estimated by the above authority
at 738,088, 900 barrels, compared
with 100000 900 barrels during
the corresponding period Of 1929.
The Washington times., 1930-10-20
Negro Trade Union
Membership Urued

Negro membership in trade
unions should be encouraged, ac-
-cording to a report on their eco
nomic status made by a commit
tee headed by Secretary Of Com
merce Robert p. Lamont, re-
leased today.
The report also recommends
that negro farmers be included In
cooperative marketing projects:
that employment bureaus be de-
veloped to give attention to the
needs Of negro labor, and that
negro home ownership be en-
couraged.
The report was based on a
survey made by Prof. T. j. Woof.
ter, of the University Of North
Carolina, at the suggestion of
President Hoover.
The Washington times., 1930-10-20
10 FIRMS SEEK
L|ST|NGS

Applications to list the follow
ing securities are pending before
the committee on stock list and
may be acted upon at its next
meeting:
Free State OF Prussia-$2o, ,00O,-
600 61a per cent sinking fund
gold bonds, external loan Of 1925,
due September Is, 1861, and $685.
259, 900 6 per cent sinking fund
gold bonds, external loan Of 1927,
due October Is, 1862.
City Of Brisbane (AuStralia) -
$4,000, 900 22-year sinking fund 8
per cent gold bonds, due June l,
1850.
The American Metal Company
Gimite O-350,0 additional
shares of common stock without
nominal or par value.
Phelps Dodge Corporation
100000 additional shares of cap
ital stock ($25 par value).
Beatrice Creamery Company
5000 additional shares Of z per
cent cumulative preferred stock
($100 par value), and 14,725 addi-
tional shares Of common stock
($50 par value).
w. r. Grant Company-10, 900
additional shares of common
stock without nominal or par
value.
National Dairy Products Corp
oration-7,220 additional shares
Of common stock without par
value.
Phillips Petroleum Company
1,168, ,284 additional shares Of cap
ital stock without nominal or
par value.
Minneapolis, st. Paul & Saulta
Ste. Marie Railway Company
$12, LOG, 900 first refunding mort
gage 512 per cent bonds, series
''B," due July i, 1878.
Rhine-Wes estphalia Electric Power
Corporation - $40, 100000 consol
idated mortgage gold bonds,
per cent series Of 1880, due April
l, 1855 with stock purchase war.
rants for American Shares).
The Washington times., 1930-10-20
BY LEWIS HANEY
Director Nsw York University Bureau
Of Business ResearCb and Former
Economist Of Federal Trade

BY LEWIS GkAkNEA
n,racAor Nsw York University Bmeau
~ Rusineaa Researcb and Former
Economist Of Federal Trade
Commission
The oil stocks are persiStently
weak. AS q group they have re.
Gently reached new low levels not
onIy for 1880 but for 1929. For
EXAMPLE. such q good company
az Vacuum Oil made a new low
on Thursday. Gulf Oil has fallen
to the low 9Os after reaching 166
earlier in this year. Standard Of
New Jersey is nearly 80 points
down from the high Of the year.
This is not due to "bear drives"
but to real liquidation by tired
and disappointed investors" Earn.
ings in the industry are low be-
cause the price Of the chief
product, gasoline. is low. Now
comes q cut in the price Of crude
oil in the mid-continent section.
Improvement Soon
Yet it is now more reasonable
to hope for ultimate improvement
in the oil industry than 1t has
been in a long while. Slowly but
surely the industry is being driven
to a realization that it must re-
sort to old-fashioned remedies for
overproduction. The idea that 1t
can keep prices up and at the
same time hold production down
is passing. The ''proration" policy
is being debunked:
For q long while oil leaders
have been struggling to enforce
agreements among producers, &C
cording to which the output Of a
pool is restricted and each pro-
ducer is limited to a certain per-
centage Of the total. This is pro-
ration. It is a sort Of pooling
agreement"
The oil men have even per-
Suaded the Government to con-
sent to this violation Of the anti
trust laws.
But they can't beat the law of
supply and demand. Like most
pooling agreements, proration
The Washington times., 1930-10-20
GENERAL PRICE.
. LEVEL UP IN
SEPTEMBER
Prices of $50 Representative
Commodities Reported Up
BY Department Of Commerce

The general level Of wholesale
prices In September varied little
from the August level, but tended
upward, according to the index
number Of the Bureau Of Labor
Statistics Of the United States
Department Of Labor. This index
number, which is based on $50
odities or prices series in
1926 at 1000, stands at 84.2 for
September, compared with $40
for the month before. The pur-
chasing power Of the 1925 dollar
in September was $1.188.
Prices Of farm products showed
an average gain of one-half of I
per cent, large decreases in grains
and cotton being more than off.
set by increases in beef steers,
nogs, poultry, eggs and potatoes.
The price level for this group
rose from $40 in August to 85. 8
in September.
Foods Rise
Foods as a whole rose appreci.
ably, the net increase being
nearly 22 per cent. Among
articles increasing In price were
butter, cheese, fresh beef and
pork, bacon, coffee, canned beans
and corn, fish and oranges.
Wheat and rye flour, on the
other hand, averaged lower than
IN August. Hides and skins ad-
Vanced in price, while leather de-
clined and boots and shoes and
other leather products were prac.
tically stationary.
Textile products showed a per-
ceptible decrease, cotton goods,
silk and rayon, wooden and
worSted goods and other textile
products all sharing in the de.
cline.
Fuel and lighting materials
moved upward, anthracite and
bituminous coal, coke, and petro-
leum products being at higher
levels than in August.
Metal Lower
Metal products as a whole were
downward, iron and steel and
non-ferrouS metals contributing
to the lower prices.
Building materials also showed
a net loss, prices of lumber, brick.
structural steel, and plant ma
terials averaging lower than in
the previous month.
Chemicals and drugs, including
fertilizer materials and mixed fer
tilizers, were somewhat cheaper
than in August, while a small de-
crease also took place among
housefurnishing goods.
In the group Of miscellaneous
commodities pronounced price de-
clines were reported for cattle
feed and crude rubber, with q
smaller decline for paper and
wood pulp.
An increase over, the August
level is shown for the major
groups Of raw materials and fin
iShed products, while semi-manu'
factured articles averaged lower.
Non-agriculture commodities as .
group were slightly higher, while
all commodities exclusive of farm
products and foods showed de-
crease,
The Washington times., 1930-10-20
BUSINESS CAIN
|SREPORTED |

Although business activity re-
ceded last month to generally
low levels, some evidences have
appeared Of seasonal increases
during the first two weeks Of
October outstripping last years.
Using the amount Of checks
cashed as an indicator, the Alex
ander Hamilton Institute, in its
current weekly bulletin, finds a
seasonal increase Of 1877 per cent
for the first two weeks Of Oc-
tober over the August-September
average as compared with 1875
per cent in 1929.
The volume of freight moved,
though well below last years, will
also show a greater per cent of
, seasonal increase if the level Of
carloadings reported for the first
week of october is maintained.
The Washington times., 1930-10-20
Maryland Phone
Service Increased

BALTIMORE, Oct. 20. Tele-
phones operated by the Chesa-
peake & Potomac Telephone Co.
in Maryland have increased 6,332
since January /, making 214, $3.50
in service october /, according
to F. j. Irish, general manager.
In addition, there are 3,499 con-
Meeting company and service
line telephones which hook up
with the lines Of the Bell compa-
nies, making a total Of 217, ,829
telephones now in use in Mary.
land.
Telephones In Baltimore have
increased 2,742 so far this year.
which makes 1919 now in serv-
ice, Irish stated,
The Washington times., 1930-10-20
RECOVERY DUE, SPECTATOR
ADVISES TRADERS
Stocks Down to Prices Where Upswing
Is Necessary, Expert Declares
By TIE SPECTATOR


Four weeks Of steadily declining stock market have
than fOyve points to the
lowest levels in three There have been minor re
cOveres during most cycle Of bear markets. but
relatively insignificant and have only served
to increase the extent Of the ensuing reactions.
Saturdays recession, in my opinion has carried the
market down to point where farsiZed recovery about
matter Of fact had expected to signs OF this
rally late trading Of weeks closing session. and
while prices did sfen from their low points OF the day.
indication that the market about to enter
q buying period ~
think the good stocks be bought during the first
hour today with view to getting out today
early tomorrow with fair sized profit As pointed out
last week. however you've got to watch the tape and be
quick to realize profits when they come wouldn't
play the market for than four five points 1t the
present time. .>
The Washington times., 1930-10-20
British RGiLIU0y
ReceintS Decline

Receipts Of the four main groups
of British railways declined $6,-
204,787 in the four weeks ended
September %, the Commerce De-
partment was advised.
Of this amount, more than $3,
100000 related to merchandise
freight, "affording a clear indica-
ton Of the serious trade depreS-
Sion," it was declared.
The Washington times., 1930-10-20
Reuter- Will Head
Pontiac Car Plant

NEW YORK, Oct. 2O.-Alfred
p. Sloan, jr.. president Of General
Motors Corporation, announced
that I. j. Reuter-, vice president
and managing director OF Adam
Opel A. c., Russelsheim, Germany,
has been appointed general man
ager Of the Oakland Motor Car Di.
vision, Pontiac, Mich. He will sue
ceed A. r. CLANCY, vice president,
transferred to the general staff,
Detroit.
The Pontiac was added as a
companion car to the Oakland in
1927.
The Washington times., 1930-10-20
Assurance Society
Assets ShOU Gain

NEW YORK. Oct. 20.-At the
meeting of the board Of directors
of the Equitable Life Assurance
Society of the United States,
President Thomas I. Parkinson
said that the insurance in force
on September 80 reached SLOTS.
100000, a gain Of $314, ,00O. 600 in
nine months, accompanied by a
gain in premium income at SILL
100000, and that the assets eX-
ceeded a billion and a quarter,
an increase of $4,000, 900.
The Washington times., 1930-10-20
Utility Firm ShOuUs
Stakeholder Rise

NEW YORK, Oct. 20. -Asso.
ciated Gas and Electric Syste h
in its monthly compilation shows
the geographic distribution Of
stockholders, numbering approx
mately 215,000 individual names
after eliminating Implications!
AS has been the case In sew.
eral months past, there was an
increase Of 5000, at the rate Of
5000 annually.
The Washington times., 1930-10-20
NEW "TRUST" FORMED

NEW YORK. Oct. 20.-What is
believed to be the first of tie
fixed trusts to provide for definite
elimination of a company on
basis of a decline in earnings, or
w~~king capital, will be offered
in the near future by a nation.
wide group of bankers organized
a Income Distributors, Incor-
porated, and h~-'0d by Pirnie
SimonS and Company, Inc.