davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-11
PENNSYLVANIA RAIL
SURPLUS INCREASED
$11 100000 Added During 1880,
Despite Heavy Shtinkage
in Business.
special Dispatch to The star.

O~Ss~eNNA
PHILADELPHIA, March il.-Despite
the unprecedented decrease of more
than lls,600, 900 In operating revenues
OF the Pennsylvania Railroad Co. last
year, the company earned q surplus OF
nearly $11, SOC, 900, over and above fixed
charges, sinking and reserve funds and
an 8 per cent dividend, according To
the income statement for 1880, made
public today, .
The total surplus shown Ia the profit
and-loSS account on the final day Of
the year: December 81, 1880, was
Operating income of the Pennsylva-
MIA Railroad for 1880 showed. subStan-
tial declines In both freight and pas
senger business, due to the worldwide
business depression. In common with
other railroads and other industries, the
gross revenues reelected the sharp re-
cesSion in business, compared with 1929.
The wide success of the Pennsylva-
MAS program Of efficiency in all de-
partmentS Of the railroads operation,
however, proved an impressive factor in
retaining stable surplus from the
years business.
While net income in 1929 equaled
1854 per cent on that years capital
stock of $574, 756, 400, an increase in the
capital stock of $77,179, $50 in 1880, to-
gether with the marked falling of in
trafic, combined to reduce the net in
come last year to 1886 per cent of the
capital stock. This was equivalent to
$S.2e per share Of $50 par value.
Dividends paid the company's 1885,
900 stockholders totaled $52,030,9S for
the year, the largest dividend disburSe-
ment in Pennsylvania Railroad history.
Dividend payments in 1929 amounted
TO slightly less than $4,000, zoo, which
set new record up to that time. The
Stockholders' 1890 dividends brought
the total payments made by the Penn
Sylvania Railroad Co. since its incor-
poration In 1916 to more than $780,
600, 900, and the company will this year
pass the billion-dolIar mark in diyi-
6end payments. the largest dividend
record Of any railroad in America.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-11
PRICES ARE MIXED
IN CURB TRADING
Utilities Hold Fairly Well, but
Oil Stocks Continue
Decline.
BY JOHN A. CRoNE.

Special Dispatch to The star.
NEW. YORK, March 11.-Prices Of
shares on the Curb Exchange today
moved irregularly and the volume Of
trading was light.
Leaders such as Electric Bond 81
Share and Cities Service moved in 4
mixed fashion. The former, like most
utilities, held fairly well, but the lat
ter eaSed along With most Of the oils.
Public utility and petroleum Issues
furnished contrasting points Of strength
and weakness. Lowered copper and
brass prices created heavineSS in the
red metal group Diversity Of move
ments was the outstanding feature Of
motor shares.
When Ford Motor, Ltd, declared
only the usual 40 per cent common
quarterly dividend, the stock sold OF
In London and consequently lower here.
This movement, however, did not pre-
vent Ford Motor Of Canada A from adj
vancing, while Stutg climbed TO new
high for the year.
Ford Motors action unsettled the
London market. - but international
shares here paid little attention TO the
Ltd, earned 11.28 per cent on the COM
its capital by e., ooo, 900 by an issue Of
common stock. 80 49,,
A proposal by Ford Motor Co. Of Hol-
land, q subsidiary Of Ford Motor, Ltd,
to pay a dividend Of 20 per cent for
1880 instead Of the 10 per cent de-
clared in 1929, checked the decline OF
the latter's shares In this market
Meanwhile hydro electTie issues forg-
ed ahead. Shawinigen Water q Pow
er leaped to q new peak price and Gen.
eral Gas & Electric preferred 3 firmed.
The latter is beneftting from its Saluda
hydro-electric development, which is
making deliveries to Duke Power and
Carolina Power 81 Light. Glen Alden
Coal slumped to q record low level fol-
lowing the announcement that the d.
rectors had reduced the common quar-
terly payment from 81 to 81.
Three Standard Oil Issues, Interna-
tional Petroleum, Imperial OIL Of
Canada and Creole Petroleum, were the
first in the oil group to Scrape new
bottom levels. Vacuum oil steadily
slipped until it. was points lower,
when it met some support.
One of the automotive accessory
makers, Houdaille- Hershey preferred A,
came into prominence Just after the
motor shares began TO appear frequent
ly on the tape. This issue reached a
record price through It's 4Sz-point rise.
Traders then started to mark up, the
air shares, again using Douglas Aircraft
IS q leader,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-11
LEAF TOBACCO EXPORTS
TO CHINA SHOW GAIN
BY the Associated Press.

~ Inc AbSoClaV9o EfeSss
Substantial stocks of American leaf
tobacco IN the Shanghai market are
temporarily at q standstill, with fac
tories consuming principally China
grown leaf and cheapening cigarettes by
use of minimum quantities Of American
product, says radiogram to the De-
partment of Commences tobacco divi.
sion. The cigarette market there Il so
competitive that many brands are be-
ing kept on the market virtually at q
loss in retail selling prices, not hav-
ing been Is yet raised to equalize In.
creased taxes and higher costs Of leaf
and wrapping materials.
Owing principally to the continued
foreign demand for nue-cured tobaccos,
brought about by the reduction Of for
eign stocks, leaf exports from the United
States during January increased by 7.6
per cent over last year and 10.1 per
cent over the same month of 1929.
The price element could hardly be said
to be a factor. since hue-cured tobac-
cos sold abroad in January Of this year
for at least is cents more on the pound
than last year, averaging 2s.2 cents.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-11
TRADE
REPORTS PLANNED
Stock Exchange and Account
ants Seek New Form for
Statements.
~ BY DONALD C. BOLLES,
Associated Press Financial Writer.

NEW YORK. March 11.-For the
average investor who finds the imam
cial statement of his company as
something akin to . Chinese puzzle,
there is comfort in the thought that
some day it may be robbed Of its
mystery and made so simple that he
can fully understand its significance.
That is one Of the goals Of the study
that has been undertaken jointly by
the New York Stock Exchange and the
wizards with figures represented by the
Accountants.
Conferences Planned.
Throughout the coming months COM
mittees representing these two organi-
cations win hold series Of meeting n
which they will bring the weight Of
their experience to bear on the prob
lem on which the stock exchange has
been working for several years with
considerable progress. Out of the study
Is expected to come a definite pro-
posal Of accounting practices for con-
sideration and adoption by corporations.
Big business has gone a long way In
the past decade or so in taking the
stockholders, and to certain extent
the public In general into its conf
dence, but those behind the present
study feel that greater Standardization
In accounting practices can be effected
that will assure both truth and clarity.
1t is understood that the stock ex-
change which enlisted the aid of the
@. p. AS In the study has three OBJ
jectives in mind. One of these, and
the one in which the public is prob
ably most interested, Is to have a stand
ardized system Of corporate accounting
IN effect that any average well informed
layman can comprehend IL.
Through moral suaSion rather than
by ofnctal edict, the exchange, accord
ing to persons. close to the INQUIRY.
would like to have all companies having
securities traded on the big board, and
those applying for listing, submit their
books to an independent audit.
Room for Improvement.
The trend toward independent audfts
has been marked in the last few years,
but recent studies have shown consider
able room for improvement It Il q
standardized policy with investment
trusts, and four out Of every five CON-
panies listed on the stock exchange.
The reports Of railroads are regulated
by the Interstate Commerce Commits
sion, and the policies of power COM
panieS are governed to a large extent
by the requirements of States in which
they operate. AS consequence, studies
indicate that so far as independent
audits are concerned they represent the
greatest field for improvement.
Because of the wide differences in
corporate structures, and business prob
lens peculiar to certain ones, the stock
exchange has as q third objective ind
ing Scalpel that will reveal the truth
Of each situation.
In the largest sense the thing that
actuates the stock exchange in cham
pioning standardization and simplifica-
ton in accounting practices is to In
crease public confidence in the corpora
tions whose securities are sold on the
EXCHANGE
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-11
Bankruptcies Analyzed.
BY the Associated Press

By the Associated Press.
About 70 per cent of the bankrupt
cieS in the United States each year are
persons engaged in other than mercan-
tile pursuits, the Department of JUS
tice says.
A tabulation for 1890 by classes re-
vealed that so per cent of bankruptcies
were laborers, 3 per cent farmers and
40 per cent professional men, while
commercial establishments accounted
for the remaining % per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-11

To alleviate housing conditions, Po-
land Is waving communal real estate
and building taxes. 81
Nearly 400 theaters IN italy are show
ing talkies.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-11

Many programs broadcast from the
Bangkok station. in Siam are being
given in both English and Siamese.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-11
NEW YORK CURB MARKET s: =: :; ::: s x::

Note-AM stocks are sold in one hundred-share lots
excepting those designated by the letter (SO (200s.
which shows those stocks were sold IN odd lots.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-11
NEW YORK BANK STOCKS

NEW YORK, March II QP-over-
the counter market:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-11

Pys:sss st:, y sSar' sssse 90 ls:s sSsEs
cash or .tTss n essaSis e Tess
cent in stock Plus cent IN
Paid last yesTno reguar rate F'O' psF cent IN ssOeA
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-11

WW--With warrants.
xW-With0ut. warrants.
New
wi-Whsn issued.
The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1931-03-19
Asa Wallace
Honored By
His Friends
so Business and Professional
Men Give Complimentary
Dinner Thursday
50 YEARS OF SERVICE
Former Employees Attend
Others Send Regrets
Given Gold Rule
est. Cloud Times)

Sank Centre, March, 16.-Com-
memorating so years of active ser
vice, so of the business and profess
sional men of this city attended
banquet to honor Asa Wallace,
editor of the Sank Centre Herald,
at the Palmer house here. --
A golden rule, symbolizing 1.-THE
Golden Rule" but also a highly
ornate replica of the composing
rule which is the printers import
ant aid, was presented to Mr.. Wal
lace. Ten former associates and
employees joined with the present
staff of five members of the The
Herald and individually donated
grains Of gold. Seven of the ten
men were present at the banquet
the others sending letters of appre-
citation. Among those present were
Grove Wills, editor of the Eveleth
Clarion, and now president of the
Minnesota Editorial association;
Carl Carlson, editor of the Melrose
Beason; Dewey Zettel, editor of the
Richmond Reporter; Herb Sher-
wood, former editor of the Fairfax
Standard; Bob Grimes, foreman OF
the Princeton Union; Thos. Clough
proprietor of the Economy Print
cry, Sank Centre; and Newell Bar.
nard, advertising expert, st. Cloud
Those sending letters were Hugh
Wallace, son, operator of the Star
News, Pasadena, CAL; Horace Cut.
ten, editor of the Red Lake Falls
Gazette; and Earl Davis, Of the
Continued on Page Four
The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1931-03-19
Cook of Byrd
Expedition to
Speak inCity
Walter Laughter, Alexandria,
Guest of Honor at Mems
Brotherhood Dinner
FRIDAY EVE, MARCH II
Gentleman Was With the
Commander Is Months
Hopes to Return

At the next monthly dinner of the
Mems Brotherhood of the Congre-
gational Church to be held in the
church dining room Friday even
ing, March 81, at $50, the pastor
Rev. c. J. Morgan, has been ex-
tremely fortunate in securing Wal
ter Laughter, of Alexandria, as the
guest speaker.
The name Of this gentleman at
first glance does not signify man
of unusual experiences. A little
closer perusal will disclose that he
was the cook on the steamship
City of New York. which played
such an important part in the ex.
petition to the South Pole conduct
ed by Commander Bryd, starting
about the first of the year, 1928.
Mr.. Laughter joined the expedi-
ton at New Zealand March %,
1928. He remained with the expe-
dition until it returned to- New
York City in the fall of 1890. The
Alexandria gentleman was with the
expedition 10 months.
Three months of this time Mr..
Laughter spent at Little America at
the South Pole and he had many
personal interviews with the COM
mander.
Mr.. Laughter is very loud in his
praise of the commander and mar
The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1931-03-19
Special Meeting Of Farmers
Shipping Association Called
Will Be Held To Hear Report Of
Committees Finding On Mill
Property

A special meeting of the Farmers
Shipping Association has been Club
rooms, to which all farmers Of the
community are cordially invited.
This meeting is of vital import
ance as at this time report on the
findings of the committee, which
Investigated the mill proposition,
will be given.
It will be remembered that at the
annual meeting of the Shipping
Association held in January 1t was
decided that a committee consist
ing Of three farmers and three
Businessmen and the members Of
the board of directors investigate
ways and means of acquiring the
mill property. After considerable
elaboration the committe is ready
to make its report. Besides the
board of directors thos who have
acted on this body are: John Gritz-
macher, Oscar Lying and Arthur
Rogers, representative farmers,
and Ben DuBis, c. D. Marshall and
George O'Gara. businessmen.
The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1931-03-19
Interesting Legislative Letter
Wriftem By X. II. Hitchcock

BY r. w. Hitchcock, Publisher
Hibbing Tribune and a Member of
the Legislature.
Is the wave of crime still rolling
over the world, and breaking so
often against the teller's window,
an aftermath of the world war? Or
is the world growing worse? What
are we going to do about it?
Governor Christianson's crime
commission gave a number of ans
wers and some of them the legis-
lature made over into law with the
esult that Minnesota taxpayers took
on the burden of another depart
ment of government which does
nothing but rush at fire engine
speed across the state every time it
hears that a horse has been stolen
and look hard at the barn door
lock. That and spending $4,000 Q
year of the taxpayers hard earned
cash seems to be the principal oc-
cupation of the Bureau of Criminal
Apprehension.
Perhaps we are too rough on the
bureau. It takes finger prints, of
course, and keeps records. It's sup
porters say that it aids notably in
the apprehension Of criminals, but
when we ask when? where? there
isn't even an echo. IF the bureau
has made good and serves any uce-
full purpose, not many, outside of
itself, know about it.
The bureau may well reply, and
does, we think, that its powers are
inadequate. Labor looked ucon the
creation of the Bureau of Criminal
Apprehension with suspicion when
II was created, and feared that 1t
was first step toward the estlb-
lishment in Minnesota of state con-
The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1931-03-19

stabulary, and it is a fact that
among the bureaus most earnest
supporters, then and now, are those
who believe that innesota should
have a system of state po.!ce. It
is probable that the pDse;s of the
Bureau of Criminal Apprehension
should be enlarged and state wide
police system made a part Of it, or
j. should be abolE.he6.
Many believe that the epidemic
of crime which afflicts lis can not
be controlled and stopped unless we
resort to modified forel o: martial
law, arm husky and stunningly uni
formed policemen with state wide
powers and sawed off shot guns
and set them to chug-chugging up
and down the state trunk highways.
Labor is an applicable enemy to a
state constabulary, fearing it's tyr
annical use in labor disputes and
distrusting 1t moreover upon gen.
eral principles. That distrust ex-
tends to many other classes which
fear such Capitalization of power.
II the crime wave is a temporary
manifestation due to the fact that
the world is out of joint, neither a
state constabulary or any other
earthly power will abate it until 1t
has run its course. II the world
Is really growing worse that's
something else again. This much
Is certain, a state constabulary
would be one Of the most expensive
things that the state could under
take.
Meanwhile the money committee
of the legislature question the USE
fulness of the Bureau Of Criminal
Apprehension. Questioning Is prob
CONTINUED on Page Four)
The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1931-03-19

velous job he tackled and COM
pleted. Commander Bryd's almost
paternal care of his men bound this
party of hardy souls very close to-
gether.
Mr.. Laughter does not pose as an
orator. He will recite the story of
the expedition and his experiences
in an informal, modest manner
which undoubtedly win prove in
teresting.
If conditions permit Commander
Byrd hopes to go back to Little
America next year and complete
the work he started. Many of the
improvements placed, such as SER
ials, are of a permanent nature. In
the event Mr.. Bryd heads for the
south pole in 1892 the Alexandria
gentleman hopes to be part Of the
expedition.
He will bring to Sank Centre a
number of curios he brought back
with him picked up at and near
Little America.
This dinner is not public dinner
The tickets are in the hands of the
men of the church and anyone car
ing to attend can purchase them for
IS cents. The charte for High
School boys will be 80 cents each
On the return trip the City of
New York passed through the Pan
anna Canal and completed the trip
with the landing at New York City.
The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1931-03-19
Henry ]. Hanson
Buried Monday
Deceased Was Resident Of Sank
Centre 20 Years-Died Friday
March Is.

Henry J. Hanson, a resident of
this city for % years, passed away
at his home in the south part Of the
city early Friday morning, March
Is, 1881, after an illness of a little
over one week. The deceased fell
near his home March 4 and fractur-
ed his right hip. Because Of his ex-
treme age the accident did not re-
spond to medical treatment.
Mr.. Hanson was born in Norway.
Had he lived until May 1, this year
he would have celebrated his seth
birthday.
The deceased grew to young man.
bod in his native land. When he
migrated to America he located for
a time in Michigan, where he was
married. For many years he fol-
lowed the vocation of a sailor in the
Great Lakes and Seven Seas. Leav-
ing Michigan he moved to North
Dakota where he resided a short
time, then to a farm north of Alex
andria where he lived until he NOV
ed to this city.
He was a quiet, orderly citizen.
Mrs. Hanson passed away May IA,
1929. There are no children.
The following relatives attended
the funeral which was held from
the Sank Centre Methodist church
Monday afternoon, Rev. Butler Of
ficiating: Mrs. w. J. Norgren, sist-
er, Pine City, Mimi; Mr.. and Mrs.
VIM. Norgren, Minneapolis, Mr.. and
Mrs. Clarence Norgren, Mime
apolis; Mr.. and Mrs. Elmer Nor
gren, Minneapolis; Floyd Norgren,
Minneapolis; Mrs. II. w. Whitney,
Pine City.
Mr.. Hansen was laid to rest be-
side Mrs. Hanson in Greenwood
cemetery.
The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1931-03-19

A crowd which completely filled
the large auditorium of the Church
of Our Lady of the Angels assemb-
led Saturday morning at 1000
o'clock, to pay last tributes of re-
spect and love to the late Mrs.
John j. Costello.
The floral offerings were numer-
GUS coming from many places. Rev.
John j. Fearon, pastor of the
church, stated that never in the
history of the church had there
been such a large asemblage or as
many beautiful floral tributes. Rev.
Fearon paid glowing and deserved
tribute to the splendid character
and Christian life of Mrs. Costello.
It may be truly said of her that
she ''lived in the house beside the
road and was truly the friend OF
man."
The following are the out of
town relatives and friends of Mrs.
Costello and family attending the
funeral:
Mr.. and Mrs. Pat Costello, Coop
erstown, N. D.; Mr.. and Mrs. Ed
ward Lacey, Glenwood; Mrs. Julia
Costello, mother of Mr.. Costello
Glenwood; Mr.. and Mrs. Ralph
Hines, (sister), Minneapolis; Mr.
and Mrs. Carl Flynn, Chicago; Ray
mond Flynn, Chicago; Mr.. and Mrs
Weldon Flynn and daughter, Mar.
garet, Jean, Minneapolis; Mr.. and
Mrs. Victor Flynn, Morris; Mr.
Anderson, Minneapolis; Mr.. and
Mrs. Henry Schmitz, Duluth; Mr.
and Mrs. Michael Congo, Duluth;
Mr.. and Mrs. Joseph frisco, Mel
rose; Mrs. Lou Wakefield and
daughters, Hazel, Leon and Merlin
and son, John, st. Paul.
The members of the Little Flow
er Court of the Lady F'oresters oil
the Church of Our Lady of the An
gels Church, with Mrs. ]. A. Coyle
Jas crossbearer, were honorary pail
beares. The active pallbeaers
were: Will Botz, Thomas Kinsella
o. w. Winslow, James Coyle, H. G
Bergman, Lewellyn Garfield.
The remains were tenderly lai6
to rest in the family lot in Calvary
cemetery, east of the city.
The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1931-03-19
Koochiching Pays
Highest State Tax
Levy of IT'S Mills COnfronts Citi-
zens-Murray County Has the
Lowest Rate

st. Paul, March 14-Koochiching
county taxpayers have the dubious
honor this year of paying taxes
under the highest levy of any coun-
ty in the state.~ The average rate
there will be 177.60 mills, covering
state, county, township, municipal
and school district taxes.
At the other end of the averages
of county levies compiled in an alb
stract made public today by State
Auditor Stafford King, and imply
ing a more delectable honor, is tho
average rate for Murray county
owners Of real and personal prop
erty, $40 mills, the lowest rate Of
anay in the state. r.
The average rate for all counties
is 64.20 mills, the highest ever rec
orded but the total tax bill this
year will be slightly less than a
year ago when the peak was reach
ed.
Without exception the highest
levies are in northern counties
where financing has been compli-
Gated by the delinquent tax .situa-
ton produced through extensive
drainage ditching which cost large
sums and in many instances proved
nearly valueless; the decline in the
lumber industry, and retardation Of
agricultural development.
Cook county has next to Koo-
chiching, the highest average rate,
155.4S mills, with Cass third with
12747 mills, and Aitkin next with
124 mills. At the other extreme, the
abstract shows that next to- Muir
ray, the county with the lowest av-
erage rate is Lac dui Parle, with
1896, only a little higher than Muir
ray. Both are in the west central
portion of the state.
A large number of Southern
Minnesota counties have levies
(Contined on Page Five)