davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1930-05-23
RED METAL CD.
MEETS MART
IN CUT
Inspiration Consolidate Co.
SIashes Dividend to ST.;
Monthly Sales Set High

NEW YORK, May 23.-Encour-
aging trade news in the copper
industry yesterday continued to
be offset by discouraging divi
dends action by the leading cop
per companies.
Directors Of the Inspiration
Consolidated Copper Company
declared dividend of SO cents to-
day as compared with a dividend
Of 81 per share paid in the pre-
Wous quarter. The dividend is
payable July 7, to stock of record
June 10.
J. w. Allen, secretary of the
Greene Cananea Copper Company,
after the directors meeting to-
day, as regards the dividend of
the company stated:
"ActiOn on the quarterly div
idend has been postponed until
the June meeting, in order that
the time of declaration and pay.
ment may conform to the date
of the dividend action of the
Anaconda Copper Mining Com
pany, of which this company
is a subsidiary"
Directors Of the Calumet and
Arizona Mining Company have
declared dividend of so cents a
share which is designated by the
company as a quarterly payment,
according to an announcement
from Chicago yesterday. This
action places the stock on a 81
basis from $40.
On the brighter side of the pic
ture, it was announced that for,
eign sales of copper up to noon
today had established new rec
ord of a monthly total of 210,-
900, 900 pounds. The largest pre-.
vious month since statistics have
been kept of foreign sales, was
May, 1928. when sales came to
204, 500, 900 pounds.
The Washington times., 1930-05-23
v. ND. SHOWS
Bic NET GAIN

Western Maryland Railway Com
pany reports a net income, or sur
plus after charges, for the month
of April of $153,785, as compared
with net of $137 ,623 in the same
month a year ago.
Gross for the month amounted
to 81, ,460,8l6, as against $1,440, ,134
last year, while net operating in
come for the month was $429.7 .745,
as against $368,947 in April, 1929
Net income, or surplus after
charges, for the four months end
ed April 80, amounted to $717,691,
as compared with a net income of
$737 500 in the corresponding 1929
period.
Net for the four months is equal
to $404 share earned on 1T ,420
shares of per cent preferred
stock, on which no dividends have
been paid. Allowing for only the
regular dividend requirements on
1T .420 shares of 7 per cent first
preferred and 68,085 shares of 4
per cent second preferred stocks,
the balance is equal to 40 cents
share, earned on 526,195 common
shares.
This compares with $4.15
share on the first preferred stock
and 43 cents share on 517.871
shares of common stock in the cor
responding period of last year.
The Washington times., 1930-05-23
UPWARD 7 TREND
IN BUSINESS
OBSERVED
Economic Digest Studies
Views. ConfIiting Opinions
Tends to Strength Theory

Despite some conflicting opinion
as to whether general business is
growing better or facing continued
recession, in addition to rather
peSSimiStic surface conditions,
Gage P. Wright, New York bust.
ness and investment counselor, de-
clared in the latest bulletin of the
Business Economic Digest, that in
studying the reports of the various
advisory services one cannot help
but gain the impression that the
trend of general business is un,
mistakably upward, although, so
far, at a disappointing rate. He
declares:
Declining commodity prices.
unemployment, decreased earn
ings, increased business failures
and the small volume of foreign
trade, do not present much on
the optimistic side of business,
but authorities believe that the
easy money conditions will
gradually arrest the downward
tendency in commodity prices,
and that earnings for the second
quarter will be better than those
of the first quarter and exhibit
an increasingly favorable show
ing throughout the remainder of
the year.
Employment Aided
Increased outdoor work, such
as construction, road building
and farming activities, is prob.
ably reducing unemployment the
acuteneSS of which. in some
respects, has probably been
Overemphasized during recent
months. From now on the sea.
Sonal trend of failures is usually
downward.
"Our export trade, which has
recently averaged about rs
per cent lower in value than
last year, is expected to con.
tinue less than 1929 because of
unsettled conditions abroad;
but it is believed that the re-
cent renewed foreign borrow
ing in this country will aug
ment exports later in the year
when normally they are
larger"
The Washington times., 1930-05-23
CORPORATION NEWS

Directors of the American Ma
chine and Foundry Company have
approved plans for the split-up OF
the common stock on a S for l
basis, and the retirement OF the
outstanding 7 per cent preferred
stock. The stockholders will vote
on this proposal on June Is.
Directors of the International
Salt Company approved a 3 for
split up of the common stock, an
offer if rights, and an increase in
the dividend rate today. Stock
holders will meet on June II to
ratify the proposed Split-up and
offer of rights.
April steel sheet production to-
tailed 3O8,988 net tons, against
259,653 tons in March, according
to the National Association OF
Flat Rolled Steel Manufacturers.
Pennsylvania car loadings in the
The Washington times., 1930-05-23

there was a better oportunity for
profit on the short than on the
long side.
American Tobacco B
1t seems that nothing in the
way Of general market weakness
can stop the advance of Ameri-
can Tobacco issues. The b"
stock. of course, is the trading
favorite. 1t moved up 212 points
yesterday, following news that
1880 earnings would break all rec
ordS. Lucky Strike sales have
increased, it is reported, in the
face Of a general drop in cigar
cite sales throughout the indus
try. This is quite certain to he
record year as far as profits
are concerned. The pending split
up of the stock has been COM
mented on here several times. So
it is unnecessary to say much
about it now. I would buy the
stock at current levels. II will
be difficult to buy it lower.
The Washington times., 1930-05-23
AVERAGE STOCK
PRICE DOWN

NEW YORK, May 23.-The av-
erage price of 1O3 stocks repre-
senting II industrial groups de-
clined 4.91 points during April.
according to the Index of Secur-
ity Prices published by the New
York Trust Company.
Stocks of only three industrial
groups showed an advance dur
ing the month, these being 10
public utilities nine oil COM
panies and five leather and shoe
concerns. Twenty-Five railroad
stocks dropped more than l8
points, while substantial decreases
were recorded in the iron and
steel industry, railroad equip
ment and rubber manufacturers
The months decline was not
enough to offset the advance
that has been realized so far
this year. however, stocks as a
whole standing 2.33 points above
the level of December 81, 1929.
The Washington times., 1930-05-23

week ended May II totaled 14S,-
1870, against 1852 in the preced-
ing week; 174,368 in like 1929
week, and 163,067 in the like 1928
week.
An estimated annual income of
$14,l41,872 is reported by the
United Corporation in its applica-
ton to list 1,430,OOO additional
common shares on the New York
Stock Exchange. The total is
equal after annual preference re-
quirements to 95.9 cents a share
earned on 9,182,515 common
shares.
The Great Western Sugar Com
pany has reduced the price of re-
fined sugar 20 points to 4.50 cents
basis. This is the second 20-point
reduction in two days. Leading
Eastern refiners followed the first
cut and now quote 4.70 cents a
pound.
The Washington times., 1930-05-23
Republican Club
Is Proposed in D. G.

Establishment of a national
Republican club in Washington
was endorsed at a meeting Of the
League of Republican State Clubs
in the 1900 block G St. N. w
last night, following the election
of Edgar C. Snyder, United
States marshal for the District,
as president of the organization.
Other officers named were
William J. Dow. Mrs. James Car,
roll Frazer, Mrs. Mary Logan
Tucker, Louis Levay and William
l.. Symons. vice presidents; Mrs,
May Lightfoot, corresponding sec
retary: William C. Connor, record
ing secretary. and Thomas P. Lit
tlepage, treasurer.
The Washington times., 1930-05-23
SALT PROPOSES
SPL|T-UP

NEW YORK, May ga divi-
dend of 81 share, compared
with the previous payment of $1.50
a share, exchange of present 500
par stock into no-par stock on a
three-for-one basis and offer of
rights to purchase additional 70
par value stock at $50 per share
in the proportion of one new
share for each three nopar shares
held were voted by directors of
international Salt Company at
a meeting yesterday.
1t was also voted to call a
special meeting of stockholders
on June II to ratify the split-up
and offer of rights. A dividend
of 81 a share was declared on
the present capital stock payable
July / to stockholders of record
June 16.
Under the proposed plan. the
company will issue 240,000 shares
of no-par value capital stock in
place of the present $4,000 shares
of 500 par value stock now out
standing. Shareholders will re-
Ceive three of the new shares for
each share of 500 par stock now
held, and will also receive the
right to subscribe to one ad-
ditional share at S36 for each
three no-par value shares held.
Funds will be used to finance
the recent acquisition of the Ster-
ling Salt Company and for other
corporate purposes.
The Washington times., 1930-05-23
NICKEL PLATE
NET LOSES

New York, Chicago and st,
Louis railway, the Nickel Plate"
reports a net income or surplus,
after charges of $488,717 for the
four months ended April 80, as
compared with a net, or surplus
after charges of $2.441 ,068 in the
corresponding period of last year
Gross income for the first four
months amounted to $16,434,92
E, against $18.259,699 in the
same 1929 period, while net oper-
ating income amounted to $2,.
232870, as against $3,665,075.
Net income, or surplus after
charges, for the month Of April
amounted to $215,172, as against
$589,615 in April of last year.
The Washington times., 1930-05-23
BODY
WILL RULE

Passage of control Of taxicabs
from the District Commissioner
and the Director of Traffic to the
Public Utilities Commission loomed
yesterday as the commission pre-.
pared for a special meeting to
draft amendments to pending NC
Leod bill.
Ignoring recommendations of
the Bureau of Efficiency that con-
troll of all traffic in the District
be centralized in one person, the
Mcleod subcommittee of the
House District Committee directed
the Public Utilities Commission to
draft new legislation granting full
authority to itself to control the
taxicabs nopoly at Union
Station, to prevent any hotel from
selling taxicab concessions on the
public streets, to prevent public
vehicles from cruising and to
establish taxicab and bus stands
and terminals.
Officials Called In
Immediately following the con-
gressional hearing, Traffic Direc-
tor Harland, Inspector E. v.
Brown, Assistant Corporation
Counsel Edward Thomas and
Hack Inspector Joseph Harring-
ton were called to the offices Of
the Public Utilities Commission
to aid in the preparation OF the
new legislation.
It was decided to hold a Spe-
cial meeting of the commission
this morning for final considera-
ton of the proposed amendments
to the Mcleod bill, which pro
vides for compulsory insurance
for taxicabs and other common
carriers.
In addition to taxicab control,
the Mcleod subcommittee di-
rected the commission to draft
legislation giving it control over
interstate busSeS in the District
The commission will probably
submit its proposed legislation to
the subcommittee tomorrow.
Watch Cab Crisis
Threats of a rate war as a
result Oh an influx of cut-rate
taxicabs has drawn the attention
Of the commission to the taxicab
situation.
In recent report the Bu-
reau of Efficiency held that the
commission had no control over
taXiCabs nor interstate buSseS and
that its efforts to regulate these
carriers was an instance of the
divided control that has resulted
in traffic chaos here.
At the subcommittee hearing,
William NICK. Clayton. long a
leader for the public in its bat
ties against public utilities, said:
such legislation as the sub
committee directed Gen. Ma
son Patrick, chairman of the
Public Utilities Commission, to
draft, giving the Public Utili
ties Commission power to pre-
vent mOnOpOlieS at Union Sta
tiOn and in the streets at the
principal hotels will be a great
public benefactiOn and remove
the scandal Of monopoly that
has for years stigmatiZed the
National CAPITAL"
The Washington times., 1930-05-23
United Corp. BGres
Its Bredk-Up Value

The listing of application for
l,43O,O00 additional shares Of
United Corporation common stock
discloses the fact that the break
up value as of May IL was equiva-
lent to 1892 a share. The addi-
tional stock will be exchanged for
a similar amount of United Gas
improvement stock.
Other salient points in the list
ing application included an in
crease of $4,000 shares of Consoli-
dated Gas and 1912 shares of
Electric Bond and Share. -,
The Washington times., 1930-05-23
Unit Corporation
Has Record Quarter

MILWAUKEE,. Wis, May o.
Unit Corporation of America had
the best first quarter in its his
tory in the first three months of
1880. it was officially stated to-
day.
Earnings were $1O1 ,46O, equal
to 29 cents per share on the
10000 shares of common stock,
as against $99,632 or VI cents a
share in 1929.
Unit Corporation manufactures
a diversified line of steel prod
uCtS for automotive, tractor and
general manufacturing industries.
The Washington times., 1930-05-23
Patent Office Settles Suit
OUer Malt Trade Mark

Memories of beer-with-a-kick,
were brought back today In a decl
sion of the United States Patent
Office as to the use of East Side"
as a trade mark name for malt
syrup, near beer and fruit Juices,
The patent office held the Los
Angeles Brewing Company had the
right to use East Side" as its
trade name for malt syrup and
other products, and prohibited the
use of that name by Delfino Da-
monte, of Oakland, Calf.
The brewing company. after
Damonte had applied for the use
of the registered name East
The Washington times., 1930-05-23
Ford Buys Cottage
Built Centuries Ago

NEW YORK, May 23.-Henry
Ford has added another antique
to his collection at Dearborn, it
was learend yesterday. The Cots
void cottage, built in ChedsWorth,
England, in the fourteenth cen
tury, was brought to this country
stone by stone last month and is
being re-erected in Michigan.
The cottage, weighing 500 tons
was taken by special train to Lon
don and shipped aboard the Lon
don Citizen, Of the Furness
Witty lines.
The house once was owned by
an Oxford tutor. A year ago 1t
was bought by a resident of Man
chester. under whose direction 1t
was restored.
The Washington times., 1930-05-23
JOHNSTON is SECRETARY

CUMBERLAND, Md, May %
Walter A. Johnston, formerly as
sociated with the Cumberland
Steel Company and the Liberty
Trust Company. has been ap-
pointed secretary of the Cumber-
land chamber of commerce to
succeed former Mayor George G..
Young. who resigned that he
might devote his time to his priv
ate business. Mr.. Young is presi-
dent of the Crystal Laundry Com
pany. and is interested in a plant
in Washington. D. c.
The Washington times., 1930-05-23

Side" for a malt syrup, claimed
prior adoption of the name and
consequent ownership, of the same
notation on beverages including
beer, near beer and certain fruit
juices.
+, The Los Angeles company OBJ.
tanned a trade mark on East
Side" as a brand of beer in 1910.
The decision of the patent office
showed the company has used the
trade mark Ion beverages, includ-
ing beer and has continued such
use although the alcoholic con-
tent of beer was after the prohi,
bition act, reduced to the legal
percentage"
The Washington times., 1930-05-23
Baldwin Shipments
Hold April Level

PHILADELPHIA, May 22.-
George H. Houston, president of
the Baldwin Locomotive Works,
stated that shipments Of the
company in May would be about
the same as during April and that
untitled orders on books are suf-
ficient to maintain the same rate
OF output through the month Of
October.
Shipments alone in April
amounted to $3.482,456.
The Washington times., 1930-05-23
HARPER EN- DS
LONG CAREER
IN BANK
Thinks He Is Entitled to Rest;
Started District National in
1909 at Request of Friends

Resignation of Col. Robert N.
Harper from the presidency Of
the District National Bank has
removed one Of the most colorful
figures in local financial cir 3les,
according to the hosts of friends
and associates which the banker
has accumulated in the many
years he has been connected with
the institution.
President Harper late last night
told interviewers that he thought
he was entitled to a rest and that
he was going to retire from &C
tive management of the bank
which he founded many years
ago.
81 am severing my direct con-
nectiOn with the District Ma
tiOnal Bank, but with the de:
termination to be helpful in
every way 1 can to the inStitu-
tiOn in the future. 1t is my
child. 1 think 1 am entitled to
a rest and that is the only
object l have in mind in dis
posing of my interest. For 81
years, without intermiSSiOn, my
nose has been kept to the busi.
ness grindstOne of details"
This was the explanation
Colonel Harper gave for leaving
the institution which he served
for so many years.
Colonel Harper will be sue
ceeded as president of the institu.
ton by Joshua Evans, jr. for a
number of years executive vice
president of the bank. Yesterday
when news of his resignation be-
came known and it was learned
that Evans was to become Presi-'
dent Harper's successor, high
praise of the new chief executive
was delivered by the retiring head
of the bank.
President Harper has probably
held more official and public posi-
tions in Washington than any
other one person in local finan-
cial fields.
Harper will serve as chairman
of the board of directors of the
institution. a position which was
created at the directors meeting
yesterday.
Tomorrow is the last day cpon
which members of Washington
Chapter, American Institute of
Banking, may make reservations
for the coming trip to Denver to
attend the annual convention. &C,
cording to announcement made
Yesterday by President-elect Frank
M. Perley, who will head the local
delegation. The convention dates
are June Is and 20.
The following delegates were
elected to represent Washington
Chapter: Mildred C. Wodcoik,
Frank M. Perley, Raymond D.
Lewis, Alfred w. Sherman. Henry
F. Kimball, William P. Keith,
Paul Seltzer and James c. Dulin.
Security and Trust
Company; Robert H. Lacey. Co.
lumbia National; j. Fred English
and Thelma Courtney. CONNER
cial National; James A. Soper and
Richard A. Norris. Lincoln Ma
tional; Winnifred S. Burwell.
William G. Winstead. National
Metropolitan; I. j. Roberts. Cath.
crime Kreig. Emory Gardner. K.
Birgfelt, Riggs National; Gerald
Keene, Stuart Ogilvie. Second
T. Hunton Leith, Secur-
ity Savings and Commercial;
John DeMarco, Seventh Street
Savings; Rose L. Royce. Mabel
V. Royce, Arthur Doying. Wash
ington Loan and Trust; Charles
D. Boyer. Joseph D. Yerkes.
Aubrey D. Dooley. Federal-Amerl-
can: Willard Barker, Morris Plan;
A. E. Henze. J. Earle McGeary.
w. B. Hibbs & Co.; Grace M.
D. c. Bankers Associa-
ton,
The Washington times., 1930-05-23
u. S. Makes AlUard
Of Philippine Issue

The War Department yester
day awarded $l,425,OOO Philip
pine bonds for public improve
mentS to the Philippine National
Bank. The bonds bear interest
at the rate If AZ per cent and
mature in 1860,
Of this sum. $5O0.OOO is to be
expended in harbor improvement
at Cebu and 1925, 900 for i'm.
provements to the harbor at I1oilo
The Washington times., 1930-05-23
Returns to Be Filled
For Personal Taxes

F.. ARLINGTON COUNTY COURT
HOUSE, May 23.-Harry K. Green,
county commissioner of revenue,
will be at the jefferson district
fire engine house tonight to assist
residents in filing belated Der.
sonal tax returns.
Everyone over 81 years of age
must file a return, he said, by
June /, or be subject to fine.
The Washington times., 1930-05-23
House Group FdUOrs
Mexican Quota Blu

Approval Of the Harris bill,
placing Mexican immigration on
q quota basis Of about 1900 a
year, was given by the House I'm
migration Committee yesterday.
The bill has been passed by the
Senate, but it is doubtful if House
leaders will permit it to be brought
I'D at this session.
The Washington times., 1930-05-23
Urges Tourist Tax
To Finance Europe

BERLIN, May % G.N.SD.-
Count r. N. Coudenhove-K -Kalergi,
noted Eurasian protagonist of
Pan Europe has just proposed a
European federation having as its
main source of income a landing
tax on all Europeans. equal
to the American landing tax.
The Washington times., 1930-05-23
SWedish Match Co.
Dividend Approved

Shareholders of the Swedish
Match Company have approved
the proposal of the directors to
pay a dividend of 10 per cent
out Of the 1929 earnings, and
the usual per cent advance
dividend for 1880, it was an
nounced Yesterday.
The Washington times., 1930-05-23
Corn Products

Merchandising and chain store
stocks continue to hold firm in
weak markets, and such issues
gain more friends every day.
would buy Sears. Montgomery
Ward, Grant Stores and Neisner
Bros. Stores.
Traders who followed my
recommendation to buy corn
products early this week have
good profits now. The company's
earnings are practically certain
to show Improvement in this
quarter due to the abnormally
low price of corn. Some smart
market observers expect this issue
to sell above 125 before many
weeks have passed. 1 like it for
trading turns. -.-
The Washington times., 1930-05-23

The tip was passed around
that Atlas Stores was high enough
for the time being and that
The midland journal. (Rising Sun, Md.) 1885-1947, 1930-09-26
THE TARIFF COMMISSION

The new Tariff Commission of six
members will administer the flexible
provisions of the 1880 Tariff Act.
It is stated that President Hoover
desires to make the Tariff Commits
sion permanent scientific body
working continuously and exclu-
sively on this subject in somewhat
the way the Interstate Commerce
Commission works at our railway
rate structure.
If he succeeds in this attempt he
will have accomplished more toward
taking the tariff out of politics than
any Chief Executive in the nations
history. The time is ripe for such
an effort. The country is tired of
seeing tariff tinkering" made
partisan football and a log-rolling
contest.
The midland journal. (Rising Sun, Md.) 1885-1947, 1930-09-26
Provincetown Not the
Oldest Cape Cod Town

Provincetown, because Of the fact
that the Pilgrim Fathers stayed there
while they were looking for the right
site for their colony, has sometimes
been regarded as the oldest Of the
many famous towns on Cape Cod.
But properly that honor belongs to
Sandwich. The first permanent set
tiers at Provincetown came in the
neighborhood Of 1880, but Sandwich
was founded in 1887.
Sandwich, like Boston, was an in
tolerant town in the early days. We
worry a good deal over intolerance in
our own era, but It is well to be re-
minded that tolerance has always
been a rare virtue. The first settlers
passed law that no other families
could come to live in the town until
they had secured the permission OF
the minister and the church authori-
ties.-Exchange.