davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-20
Sl,O)0,OO,OlD DROP
occurs IN BONDS
Index Of so Issues Is Now
Down to 87.8, a Record
Low.
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, September 1e.-Domes-
tic bonds listed on the New York Stock
Exchange suffered a depreciation this
week Of about $1,000, 0o0,0o0 Standard
Statistics index Of so bonds dropped
from 90.4 to 87.8, new record low.
That index, however, covers only do
nestle issues. II q reliable index of
foreign dollar bonds were available, 1t
would undoubtedly show considerably
larger decline.
A fairly representative list Of 10 for
eign bonds had an average decline dur
this to the total of $19, 19O, 900 900 in
foreign bonds listed on the exchange
would give an indicated depreciation Of
$1,170, $50, 900. The total Shrinkage IN
market values, therefore, was over
$4,000, 000, 900 and since as many issues
are traded elsewhere it may be conser-
vatively estimated that during the week
domestic and foreign bonds in the
hands Of American investors have
dropped $4,000, 900 900 in market value
These are startling figures. They
market In which all Judgment as to Sc
curity was pushed aside in the mad
scramble to unload corporate and gov
ernmental obligations for what they
would bring. Prices dropped with q
rapidity excel1ed only by the speed OF
former supporters of the market In
withdrawing their bids.
There Is little use trying to separate
the picture into its component parts
The decline of the domestic market
was related to the panicky liquidation
in foreign bonds. Hitherto highly re-
garded public issues such as Columbia
Gas g. Electric SIS and Louisville Gas
&c Electric IS lost to points in
a single market session. Atchison gen.
eral As, most favored of all the rail-
road mortgages, dropped to a new low
for the year. Junior railroad bonds
fell to price levels that would, on their
face, indicate a complete breakdown
of the railroads. Hysterta had the
market in its grip.
In foreign bonds the conservative
Great Britain 51aS Slumped sharply,
German government 51zs lost points
in one market session, while Dawes
Reparation rs dropped points and the
European list collapsed under food
Of offerings.
The continued decline IN stocks was
paralleled, of course, by an orderly re-
cession Of bond prices as distress liz
uidation was forced out. But the bond
market outdid the stock market to-
ward the end of the week when anx-
iety over the British crisis became
acute.
(Copyright, 1917
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-20
COTTON PRICES DROP
TO NEW LOW MARKS
Heavy Southern Selling Depresses
the Market, With Close Is
to 16 Points Lower.

BY the Associated Press.
NEW YORK, September 1e.-Cot-
ton broke into new low ground for
the season here today under heavy
Southern selling and liquidation which
seemed to be promoted by the increase
in Southern offerings combined with
some nervousness over the situation In
China and uncertainty as to the further
action of sterling exchange. December
contracts sold of to $40 or 10 points
net lower and closed at that figure, with
the general market closing easy at
net declines of Is to Is points.
The opening was steady at q decline
Of 3 to z points. Liverpool cables were
better than due on the New York close
of Friday, but this was attributed chief
" to establishments following yesterday
recline In sterling which might tend
to widen New York-Liverpool differ
ences and the market here was In
fluenced by the appearance OF heavier
Southern selling orders. This evident
ly promoted liquidation Of some old
long accounts and while offerings were
taken by covering or trade buying On
sale down orders, prices gradually
worked lower.
tapered off somewhat after the early
offerings had been absorbed, but the
pressure from this source continued
more or less In evidence, and weakness
in the stock market was probably re-
Elected by some Wall Street selling,
october sold of to GIG and March to
6.68, making net losses Of IA to 16
points and closing quotations were at
the lowest Of the day and season on
49, aaffvn yNocffi0Y1S
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-20
BELIEVES SAVINGS GAINS
WILL END DEPRESSION

Excess Of saving over spending in the
United States Is slowly but surely Grad
icating causes Of depression and setting
the country on the road to prosperity,
Richard B. Scandrett, chairman Of the
Fidelity Investment Association, who
has returned from q tour Of the COM
pany's "a Offices, including Washington,
declares.
1.-The fundamental cause of the world
economic crisis, irrespective Of minor
technical Developments, said Mr. Scan
brett, "is the circumstance that for five
years, during the World War, the world
was consuming ct greater rate than 1t
was producing, and consequently de-
stroyed q large part Of excess capital.
direct proportion to rate OF increase of
excess captital-that Is, in proportion
to the excess OF production Of capital
over its consumption. This excess Is in
dictated by the amount Of savings, which,
am convinced, are increasing at rapid
rate"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-20
|O|L CURTA|LMENT
EFFORTS RENEWED
Offerings of Distress Case
line Cause New Decline
in Prices.

6peClaI OlSpALCu 70 uG 0thEs
TULSA, Okla, September left
forts to curtail operations are being
renewed in the refining branch Of the
oil industry as the result of declining
prices in the wholesale gasoline mar
ket. The quotations reached a new
low level for the current movement,
with continual offerings Of small
amounts of the commodity at conces-
sions.
The distress gasoline originates at
probably not more than half dozen Of
the smaller plants in the Midcontinent
territory. but their offerings, because
of the lack of regular market outlet,
have been so insistent that prices have
receded with very little resistance
Anticipating higher crude oil prices
than those prevailing, 1obbers and dis
trfbutors Of gasoline purchased heavily
on the rise, with the result that the
price reached cents at the end Of
last month. Now the normal day buy
ing has been suspended until either
stocks are sufficiently worked on, or
else prices in the tank-car market
show some stability.
Because of the partial integration Of
some Of the larger plants, offerings
from that source are not plentiful and
prices are being shaded only with stub
bornness. AS an outcome, quotations
may be said to have probably the Wild
est range of the year, from low Of
3 cents to top Of AZ cents gallon.
At the low figure, quotations have
again gone materially below the cost
Of production, and consequently facili-
tate the curtailment movement, which
so far has been limited to the North
Texas area. One plant there has shut
down, while others are contemplating
similar action or else partial operation.
Thus far the reduction movement is
restricted, but it is expected to spread.
In contrast with the weakness Of the
gasoline market, prices of lubricants
continue to advance. Ever since the
curtailment Of the Pennsylvania crude
output during the Summer, when re-
finers reduced their production Of lu-
bricants in that area, together with
the contraction in the supply in other
refining districts because Of declining
prices, inventories Of lubricattng oils
have been declining. During the past
week there has been an increase Of
cents in the quotations Of nearly every
grade Of bright stocks, the leading
grades of lubricant oils.
(Copyright, 1917
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-20
REPORT ON SILVER
MARKET is AWAITED
Committee Of Experts to Announce
Plan for Sterilization
of Metal.
~ the Associated Press.

by the ASSOElbtSu EtCSbs
Considerable interest awaits the re-
port Of committee Of experts on silver,
called together by the international
Chamber Of Commerce, who will SUBJ
NIT its recommendations to the
international council Of the chamber on
October %.
The reluctance Of certain Of the gov
ernments interested to call or attend
diplomatic conference led the
international chamber to summon ex-
perts from several Of the countries
principally interested in the production
and consumption Of the metal to dis
cuss what measures may be suggested
by the chamber to mitigate the severe
effects upon trade and industry Of the
decline and instability in the price OF
silver. The conference was scheduled
for this week In Paris. but the local
chamber believes no report will be made
Of its findings until formally received
by the council.
Demonstration policies Of the British
government in India and the French
government in Indo-China, together
with the large stocks Of silver in India
and China and the complicated cur
rency questions in connection there
with, make this problem one peculiarly
adapted to expert consideration. Nu-
merous important organizations and
groups in the United States have re-
peatedly drawn attention to the need
for an international conference for the
discussion Of this matter.
The dependence of Mexico and to a
less degree, certain other Latin Amer
lean countries, on silver production and
the vital part it plays in the nom
ferrous mining industry in the United
States and Canada, emphasize the i'm
portance to American business interests
Of prompt and adequate study and
recommendations for solution of the
question.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-20
Mortgage Bank suggested.

NEW YORK, September 10 PD.--
Prank Bailey, chairman of the board
of the Prudence Co., Inc, suggested to-
day that great mortgage bank, based
on the principle Of the land bank, be
formed as O method Of relieving the
distressed home owner. He said that no
greater thing can be done for q COM
munity than to aid the home owner
who faces the loss Of his home.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-20

the American Institute of Accountants.
will talk on Conservative Accounting,
a Safeguard to Investors" in a radio
talk to be broadcast September % over
a Nationwide N. b. G. network.
washington clearing house figures for
saturday: a4,0l6,aae.7A.
Evening star., 1931-12-08
A|RMA|L GROWTH
LAUDED BY BROWN
Stable Passenger Business Is
Predicted in Report-S1,
100000 Unspent.

announcement of air transport de-
velopment by the Post once Depart
ment under the terms OF the Watres
airmail act has had "a far-reaching
effect on commercial aviation" Post
master General Walter F. Brown de-
clared in his annual report, made pub
lie today.
The purely Airmail Service is rapidly
disappearing, he said, and today every
airmail route but two in the United
States now offers passenger transpor-
tation. On the last two remaining air.
mail runs passenger service will be
made available upon completion Of in
termediate landing fields.
The Airman Service has two pur-
poses, Mr.. Brown stated, transmission
of the mails and the encouragement
Of commercial aviation, The Airmail
Service at the close of the fiscal year
was able to turn back more than ST.
900, 600 into the Treasury, expenditures
amounting to $685. 734 out of ap-
propriatioGs of Sl8,000,00o.
Two New Routes Opened.
During the year 8,579,422 pounds of
mail Travelled by air and the mail
planes few q, ,38l 1852 miles in carry
ing on their service. Two new trans
continental routes we're inaIgurated
during the year and number Of con-
Solidations and extensions of existing
routes were authorized.
The year witnessed the death of
eight airmail pilots while actually en-
gagged in carrying the mail, an average
OF one death for each 2,672,731 miles
flown.
In his letter transmitting the report,
Mr.. Brown termed the growth Of the
Airmail Service and its beneficial eff
feet on aviation as especially encour-
aging"
Predicts Stable Business.
THE Department believes confident
ly," he said, that within the next few
years a stable passenger and express
business will be developed TO such pro-
portions as to justify the gradual reduc-
ton and the eventual elimination of the
aviation subsidy as a factor in airmail
pay"
He recommended legislation which
would permit him TO contract, without
asking for bids, for airmail service in
Alaska, payments to be made from ap-
preparations for star route service.
Raises International Service.
This country's international airmail
routes in Central and South America
and the West Indies have functioned
during the year with "a regularity and
dependability which is gratifying, Mr.
Brown said. On many of the routes
service was 100 per cent perfect and on
all together the average percentage Of
performance has been 3945.
During the year the Post Office De-
partment continued its tests with fire.
proof mail sacks for air mail use, de-
vices for picking up and dropping mail
in flight and other equipment. The
year also saw introduction of the land
ing ski for Winter flying in the North,
the adoption of better planes and the
enactment of a postal requirement that
mail planes adopted be capable of cruis-
ing at lao miles per hour.
Evening star., 1931-12-08
KENTUCKY iNAUGURATES
NEW GOVERNOR TODAY
Fiem d. Sampson, Republican,
Works Late to Clear Way for
Ruby Laffoon, Democrat.
BY the Associated Press.

BY the Associated Press.
FRANKFORT, KY, December g.
Gov Flem d. Sampson, working far
into the night after a farewell party
at the mansion, cleared his desk for the
induction into ofice today of Ruby
LafToon, his Democratic successor
Sampson Is q Republican.
On his last day In office, Gov. Samp-
son commuted six death penalties to
life imprisonment, issued 2o8 commuta-
tions reducing the prison terms of pris-
oners IN the two State penitentiaries,
gave 26 respites, equivalent to pardons,
and signed eight paroles.
These made total of 338 acts of
executive clemency. One of the death
penalties commuted was that of COL
ored prisoner sentenced to hang after
conviction for criminal assault. The
other five were to have died in the
electric chair
Gov. Sampson appointed As colonies
during his last day in office, and re-
stored citizenship to seven former con-
victs. He also drew his last pay check,
covering the first eight days of De-
cember.
Evening star., 1931-12-08
WILL HONOR HURLEY
Officers of 306th Cavalry, ID. c. and
MARYLAND Guard. to Dine.

Officers of the 306th Cavalry, District
and Maryland Reserve Unit, will give a
Secretary of War Patrick j. Hurley and
prominent Army officers tomorrow night.
Other guests honored at the banquet
will be Maj. Gen. Guy v. Henry, chief
of cavalry; Col. Maurice Fitz Maurice
Day, M. c., British military attache;
Col. Harry ~ Cootes, Sd Cavalry; Col
Osmun Latrobe, executive officer in the
office of the chief of cavalry, and Repre-
sentative Edward Wheeler Goss of Con-
necticut. Col. John Philip Hall, COM
manding officer of the 306th, will act as
toastmaster.
To meet deficiency of $4,000 the
Isle Of Man proposes to increase its in
come, tobacco, beer and gasoline taxes.
Evening star., 1931-12-08
SENTENCE WIRE TAPPERS
Los Angeles Architect Listened In
on Wife in Divorce Row.


on Wife in Divorce Row.
LOS ANGELES, December s lP.-A
fine of $500 with the alternative of one
day In Jail for each 50 was imposed on
Luther T. Mayo, wealthy architect, after
he pleaded guilty yesterday to tapping
his wifes telephone wires. Mayo pleaded
guilty as preparations were under way
to place him on trial.
Superior Judge T. P. White granted
the stay of execution until January 7
to pay the amount. Mayo's attorney
said the architects entire fortune was
tied up in divorce litigation under way
nine weeks.
Both Mayo and his wife, Mrs. Mar
guerite Maloney Mayo, have sought di-
vorce before. The telephone wires
tapped were in Mayo's own home,
which, under a court order, Mrs. Mayo
was occupying.
Evening star., 1931-12-08
JUDGE GETS PROTESTS
Letters Object to Bread and Water
Diet for Prisoners.

Diet for Prisoners.
GERING, Nebr., December P)-
County Judge c. o. LYDIA, who has been
called the dieting judge" because of
his sentences of bread and water diets
for liquor law violators, yesterday said
he has been bombarded with letters
from New York City and San Fran
cisco.
A letter from San Francisco to
County Sheriff Vincent S. Ramsey de-
clared Ramsey was liable to prosecution
for forcing an unconstitutional. SEN
tence involving cruel and unusual pun
ishment"
A letter from New York City charged
Judge LYDIA considers the enforcement
OF the prohibition law and the violation
of the liquor law above all others"
Evening star., 1931-12-08

saArsa eEA Sr -
kS1 ~St ~ ~ ~ I-=sSaT~g @~Ss Z xs>
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-21
GAINS RANGING
TO 9 POINTS
ARE RECORDED
BY ELMER c. WALLER
Scripus-Howard Foreign Editor.

NEW YORK, Feb. 20.-The up
ward movement on the stock mar
ket carried through the entire ses-
sion today with only moderate peri
DDS Of profit Gains rang
ing to points in two extremes
were retained in most cases.
Group after group was brought
forward by the bullish element and
the market at times had the ap-
pearance of the bull movement
which eliminated in September
1929.
At the outset large blocks ap-
peared on the tape, ranging to TO-
900 shares of Radio Corporation
Heavy trading in the early trading
caused the high-speed tickers to lag
four minutes.
Average on Advance
According to preliminary calcu-
lation, the Dow, Jones & Co. indus
trial average advanced 1892 points to
1888 and the railroad average 80
points to 1901.
Sales totaled 100000 shares. COM
pared with 100000 shares Thurs
day.
Steels were prominent in the
early trading, but United States
Steel lost its force after reaching a
new high for the year. General
Electric then was brought to the
fore. Utilities ruled supreme for a
time. Then the motors were bid up
sharply and near the close the oils
were carried forward.
Motor equipments rose with the
automobile shares. Coppers prof1ted
by evidence of f1rlner tone in the
price for the metal. Chemicals
were featured by 9-point advance
in Allied Chemical and substantial
advances in liquid carbonic and air
reduction. Foods rose with National
Biscuit at new 1881 high.
Rails Are Unaffected
Rails were apparently unaffected
by publ ication of the Parker report,
which recommended more stringent
control Of transportation holding
companies. This class of stock,
however, was quiet, featured by an
other sensational rise in New York
& Harlem, an inactive issue.
Leading industrial stocks incIud-
ing American Can, Du Pont, Union
Carbide and Radio Corporation,
followed Steel and General Elec-
trio to new 1881 high territory.
Standard Gas made new top for
the year in the utilities as did
American &c Foreign power.
Auburn Auto made another of
its spectacular advances, reaching
200 near the close, where it was
up 81 points. Gains of 1 to more
than points were made by Pack
ard, General Motors, Hupp, Chrys-
Ter and Nash.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-21

In MemOriam Notices
WINDISCH-In loving memory of MIR dsar
wife and mother. Caroline Windisch. who
passed aWay 3 years ago today Feb. 20
Deep IN our hearts are the loving memo
Ties you left with US today
HUSBAND AND CHILDREN.
II YOU DON'T FIND what YOU are Io-1F-
be advertised here tomorrow. Read ,ri1ses
classified ads daily.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-21
Legal Notices

WE will sell at Public Auction one Buick
Der 2S26475. serial number 22053l5 for
craning. repairs and storage. amounting
70 S224.94. at 10 a. m. Monday March g.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-21
PORKER PRICES
GAIN 40 CENTS
AT LOCAL PENS
Cattle Market Stationary;
VeaIerS Sell Lower at
$40 Down.

Porker prices at the Union Stock
yards today turned upward and
prices generally were ranging
around 40 cents higher than Thurs
days average, with few weighty
butchers up more. The bulk, 100 to
800 pounds, were selling at $3.50 to
$3.50, Early top sold at $3.50. Re-
ceipts were 5000. Holdovers, 254.
Slaughter classes of steers slow
and mostly steady, with a bearish
undertone, featured the cattle mar
ket. Receipts were estimated at $50.
Vealers were largely so cents lower
than Thursdays best time. selling at
$40 down. Receipts, 500.
Sheep and lambs held stationary,
with good and choice grade Of
lambs salable, selling around SO. Re-
ceipts were 500.
Chicago hog receipts were $4,000,
including 1900 directs. Holdovers,
1000. Market active, opened around
Is cents higher than Thursdays
average; several loads of 160 to
20O-pound weights sold at 76O,
some held higher; few 220-pound
averages were selling at $720.
Choice Of $50 to 800 pounds sold
at $3.50 to 81. Cattle receipts,
10000 Calves, 1000 and strong.
Sheep receipts, $4,000 and strong.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-21
LEGISLATION ON
POOR FARM is
BEFORE HOUSE
Legislature Is Asked to
Provide Infirmary Trans
fer to JuIietta.

Legislation to relieve congestion
and correct deplorable living condi-
tons at the Marion county infirm-
airy was introduced in the Indiana
house Friday by Representative Al
bert Walsman Dem, Marion), re-
search director of the Indiana
Taxpayers Association.
Walsman's bill authorizes the
Central State hospital on West
Washington street to take over the
infirmary after formal transfer BY
the Marion county commissioners
and maintain the inf1rmary as an
adjunct to the hospital.
The sum of $4,000 would be
appropriated for operation of the
infirmary from Jan. l, 1892, to Sept.
80, with $95,000 appropriated for the
succeeding fiscal year.
An additional appropriation of
S175,000 would be for the construc-
ton Of new women's building at the
Central State hospital.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-21
Abbott Laboratories in 1880 earned 1892
a share against s4,9l in 1929

Hathaway Mfg. Co. omitted quarterly
VChicago Yellow Cab Company, 1880 net
profit $500 a share against S4.46 in 1929.
Drug Inc & Subs including results from
jan /, 1880 to date of acquisition of
Household Products Inc and Wick Chemical
Co 1880 net profit 5000 a share on 3,5O1,-
499 shares, against $500 a share on APP
proximately 2465. 700 average shares out
standing during 1929.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-21
Births


Charles and Ruth Killiom, Coleman hos
pital.
Virgil and Florence Sly, Coleman hos
pital.
Thomas and Cleo Walton. Coleman hos
pital
Paul and Mildred willoughby. Coleman
hospital.
William and Armenia Kriner, 1909 West
Thirty ninth.
Cecil and Sara Baxter. Coleman hos
Charles and Beulah Beaver. Coleman
hospital.
Frank and Legora Calvert. Coleman hos
pital.
Elmer and Nora crowder, Coleman hos
George and sylvia Dan, Coleman hos
pital
Oscar and Emma Eubanks. Coleman hos
pita1.
Paul and Audrey Lewellyn. Coleman
Jam3s and Marjory McClelland Coleman
hospital.
Harry and Mary Owens. Coleman hos
Forrest and Willie Rice. Coleman hos.
pital.
John and Margaret Sullivan, Coleman
Harry and Lelah vanciviar. Coleman
hospital.
Boys
Claude and Edith King. Coleman hos
pital.
Harrison and Jone Marsh. Coleman hos
pital. --'
hospital.
Thirty-first.
Frank and Wanda Brandenburg. Cole
Henry and Lucy Erwin. Coleman hos
pital '-S-''''1 4ios
William and Betty Huber. Coleman hos
.a Dallas and Catherine Ingels. Coleman
MIX Mike and Flora cakes, Coleman hos
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-21
Action by Governor
Bins slgned Feb. I'd P. NJ.

DIS E1NAtW TtUs T. IA
S. 3. 19 (HJdman) ALLOWING Indian
apolis safety board right to construct and
repair buildings under its Jurisdiction and
now under control of the board of works
H. B. rs (Smith OF aportel-Separates
Laporte and Porter county superior court
into two courts. Emergency.
Bills Signed Feb. 90
s. 2. 43 fMillerl-Amending live stock
loan law 10 include swine in act which
makes 1t a felony TO remove live stock
from county when such stock Is mort
gagged.
S B so (EartzelD Preventing benz
iciarv from breaking terms of a bene-
factor OF a life insurance policy.
II. B. n Bold. Monnfg )-Anending 1906
ibrarv law TO include cities under 200 .0o0
and esta blishing 5 70 10 mill levy to
SUPPORT them.
H B. 1873 fKruegerl Provides for ap-
pointment Of three trustees of city water
district OF Michigan City kcommon council
Permits issuance Of bonds By water dis
trict.