davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11
GERMAN BOND LIST
DROPS ON SELLING
Political AdviCeS Cause Sud-
den Observation-Disclosures
Issues Firm.
BY F. H. RICHARDSON.

Special Dispatch to The Star.
NEW YORK, February 11.--Bond
trading today was marked by the selling
Of German bonds on cable advices of a
radical threat to the German govern
ment.
While Wall street was not inclined to
think that the German extremists would
succeed in setting up trump" parfia-
ment, nervous holders of Gernnanys
dollar bonds, who still bear in mind the
bad breaks in these issues last year,
liquidated in a moderately heavy fash
ion. Young Plan 5las dropped point.
Preparations Is and other German de-
scriptions had fractional declines.
Domestic bonds were firm, with a
number of new highs in prime railroad,
industrial and public utility obligations.
Gains in this group included American
Telephone 5l2s, Atchison General As,
Baltimore g. Ohio first Is, Brooklyn
Manhattan Transit IS, Chesapeake Cor
poration SIS, Consolidated Gas SIPS, Gen.
eral Motors Acceptance IS, Great North
ern Is, Grand Trunk IS, Nickel Plate
AIS, Philadelphia Co. IS and Wheeling
Steel AIS.
Junior railroad bonds were in stronger
ucIItdIQ J1ldLl Ill SOIIIC WEEKS. ETlc OS,
MisSouri-Pacif1c 512S, st. Paul Adjust
mentS, ST. Paul SIS, Chicago Great West
ern As, and other issues of a like rat
ing gained fractionally to over a point.
These bonds are likely to follow the
trend of their companion common stocks
and their showing, together with the
upturn in convertibles and stock option
bonds was attributable to the contin-
ued advance Of equities.
Apart from German issues, foreign
dollar bonds were quiet, with few i'm
portant price changes. Australian issues
we're still being sold lin volume, but
prices, now around an 81zNto 9 per cent
yield basis were fairly well held. italian,
French and Austrian bonds were ac-
lively traded at or near their best
prices of the year.
Chilean dollar credits were fraction
ally higher. Reports were being freely
circulated that the $375, 00O, 900 Chilean
nitrate merger, for which arrangements
have been under discussion in New
York for several weeks, had been vir-
tually consummated. The proposal in
cludes, 1t was understood today, the is
sue of $45, 900, 900 in bonds, of which
$34, 100000 will be offered here and In
London. Pablo Ramirez, head of the
Chilean bankers delegation, denied re-
ports that the Chilean government
would guarantee the loan.
New bond offerings today amounted
to nearly $15,000,000. Among them was
a Jersey City issue of avs, priced to
yield 2-25 to $50 per cent, according
to maturity. The low yields reflected
the strong position of the municipal
market. 1t was significant of the close
competition in bidding for these issues
that the syndicate purchasing the
bonds was composed largely Of some OF
the smaller underwriting houses. Lousi-
vile Gas & Electric offered 5000. OOO
OF AZ per cent mortgage bonds at 81,
to yield 1853 per cent, which is slightly
under the current yields on outstanding
bonds OF the same company.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11

Butte--One-pound prints, s3a34; tub,
S2a33.
Eggs-Hennery, 21a22; current re-
ceipts, 19a20.
Poultry, alive-Turkeys, young, 35a
SO: old, 30a32; Winter chickens, 2Sa30;
Spring broilers, 33a35; hens large, 18a
20; small. 16a17: Leghorns, Is; ROSTERS,
ID; ducks, Is; keats, large and young,
60a65; old, 25a30 Dressed-Turkeys.
young. 40a42; old, 35a36; Winter chick
ems, SO: Leghorns, 10: Spring broilers,
As; hens, heavy, 22a23; small, 20a21;
capons, large, 37a38; small, 32a33:
ducks, 24a25; ROSTERS, Is; keats, young.
70a80; old. 40a45
Meats-Fresh killed, beef. 14a22: veal.
1921; lamb, 81; pork loins. 18a2o:
fresh hams, 20; fresh shoulders. IA;
smoked hams. 22a24: smoked shoulders.
13a14: strip bacon, 23a34, lard, in bulk,
ei2a10; in packages, l0aI01A.
Live stock-Calves. 1000; lambs, 500;
hogs. heavy, 7.00a7.5 medium and
light. 8.0oa8.4O.
Fruits-Strawberrie As: honeydews,
Chile, 3.00a350; oranges. Florida, 2.75a
3.75; California. 3.00a4.50; lemons, 3.50a
800: tangerines, 1.75a225; grapes, EN-
perors. kegs, 500; apples. bushel baskets,
1.00a2.00: box stock, 2.00a3.00; pears,
box stock, 3.50a3.75; cranberries, Is
pound box, $50; pineapples, 4.00a4. so (;
lines. per 100, 200
getableS-Potatoes 150-pound sacks.
325; new potatoes, Florida, 2.00a2 so,
mostly ESQ., Idaho bakers, 100 pounds.
275; sweets, per bushel, l50a2 90;
caulifiower. 2.25; string beans, 3.00a
500; eggplant, Cuba, 4.5O; peppers, 3.00a
$50; broccoli, 300a325; cabbage, new
per hamper, 1.50a1 rs: 90-pound sacks,
1.25; old. per sack, 125a1 so; lettuce,
Iceberg. 300a3.50: Florida, per hamper
1.50a1.75 spinach, LOCAL rs; kale, 1.O0a
1.25; mushrooms. 75a1 90; squash, per
barrel, 3.50a400; cucumbers, Florida
hot house, per dozen, 1.25a1 so: toma-
toes, repack, 70 size, 3.25a3.50; peas
3.5oa3.75.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11
POTATO MARKET.

CHICAGO, February IL (P Omitted
States Department of Agricultu-e) .-Po-
tatoes, receipts, n cars; on track, ITO
cars; total United States shipments,
793; about steady; trading rather slow;
sacked per hundred-weight, Wisconsin
round whites, l.35a1 40; fancy shade
higher; ungraded, 115a1 rs; Minnesota,
round whites, 115a1 80: Idaho RuSsets,
No. /, l.65al75; occasional car higher;
No. 2. 1.30a1 IS; few, 1.4O; Colorado
McClures, branded, 1.eSal.95.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11
BILL TO LIMIT OIL
IMPORTS is FAVORED

BY the Associated Press.
A Senate committee, by vote of 9
TO s, has favorably reported the bill Of
Senator Cappsr of Kansas which pro-
vides for the limiting of crude oil i'm
ports for the next three years to 49,
100000 barrels per year, prorated on
1928 imports, and torbids imports Of
refned products.
The committee took no action on
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11
SILVER QUOTATIONS.
NEW YORK. February IL Q9.-Bar
Silver, 27%.
Washington Stock Exchange


Georgetown Gas $500 at 1O4.
Wash. Gas $500 at 1041a, $500 at
104A.
Wash. Gas $500 at i01%.
Wash. r. g. E. 4s-$1 900 at 87X, s., 900
at 87A, $500 at 8734.
Cap. Tract Cot at SO.
Amer. Sec. 81 TT. co.. at 335.
Merch. Tfr. & Stge. pfd-5 at 95, 100
at 90.
Mergenthaler Linotype-1o at ssA, 10
at 1914.
Natl. Mtge. & Inv. pfd.-l00 at 5, 200
at 5, 100 at S, 100 at 5.
AFTER CALL.
Pot. Elec. 51as pfd.-5 at 10s3z, 10 at
1881, 6 at 1885, / at 1085s, 10 at
109, at 100, 4 at 100, at ZOE.
Wash. Gas 6s A-$100 at 1Ol%.
Mergenthaler Linotype-10 at SO.
Real Est. Mtge. & Guar. pfd.-1OO at
6Iz.
Cap. Tract. Colo at 80.
Notice-This Exchange will be closed
tomorrow, Lincolns birthday.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11
In Race for Treasurer.

LYNCHBURG. Va. February IL
(SpeciaD. = Bernard H. Camden of
Madison Heights has announced his
candidacy for Democratic nomination
In the August primary for treasurer Of
Amherst County
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11

bills designed to place a tariff on the
importation of oil.
A hearing is scheduled by the House
Ways and Means Committee on Febru-
AIRY IL for consideration of pending oil
tariff and embargo bills.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11

90 rae Gas q I'll Mar IL SO ~ 2h "a "a
sales oil Stocks on New York Exchange.
U:So An. 100000 1900 Noon. $500 900 600
1'ov F.M.''... 100000 2:1O No.. 2 800 ono
Dydsnd rates table are the annual cash
oc unit OF trading les 100 fParty extra 4Pus az IN
In stock
Payste In casS o psya6e in stock when earned
n ps1a his ock Plus BE Plus So in STOCK
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11

People of the Philippines are esti-
mated to have eaten $50, 100000 worth
Of fish last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11
Bid and Asked Prices.
BONDS
PUBLIC UTILITY
MISCELLANEOUS.

Barber 4 Ross. Inc. s4as..... 81 IS
Columbia Country Club 5lzs... 100 i0i
d e Paper MIG; IS; :......... g ,7S
Wash. Cons. Title SIS. ........ .... 100
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11
Washington Produce

Buttev-ons-pOund prints, ssas4; tub,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11
NEW YORK, February II (R.-

Several trains In France now attain
IN parts of their regular trips q speed
ef 74lz miles an hour.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-11
STOCKS.
PURLIC uTILITY.

Amer. Tel. & Tel. (s). ........ 1874 49,.
Capital TRACTION Go. ,;:;...... 81 SO
N Maio s' " s stes@ ami iia. isSS rs
Pot. EIec. P Powsr s5 Dfd ::IIdd9oh l H.,
Wash. Rwy. 4 Elec. pfd. go. 98K o9iA
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-11-26
A DAY FOR THANKS

When this Thanksgiving is at hand
our thoughts turn back to the early
days of our country as outlined in
history books where we are told that
the settlers wendell their way to
church through forests with weapons
on their shoulders with a fear that
az any moment they would be attacked
by savage Indians. Theirs were hard
ships and yet they were very thank
full for what they received at the
hands of their Maker. They had not
been used to much else but hardships.
While there is much suffering in
this modern world of today because
of unemployment and the unequal dis
tribution of wealth the standard OF
living of the people far surpasses that
of the pilgrims. So on this Thanks
giving day when it will seem so hard
in many instances to find substance
for thanksgiving it will be well to
call to mind the deeds of those early
fathers and mothers of our country
and if for nothing else, give thanks
that so noble a race could brave the
tortures and hardships of wilderness
to bring forth a nation such as this
we live in.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-11-26

bring down upon them the criticism
of their friends and neighbors who
might not be able to make such pur-
chases as this time.
But perhaps if you bought that car
from your neighbOr or ordered some
articles that might be in his store, he
in turn could place an order for some
fall stock, and the manufacturer back
somewhere could employ some men to
make up the order.
1t is an endless chain. Remove fear
from the thoughts and consciousness
OF the average citizens and in proper
tion as this is done will the channels
of trade open up and normal times
come back.
If 10 per cent of the hidden dollars
of the people of this country were
brought from their hiding places and
put to work, the unemployment situa-
ton would be solved at once.
Now is the time to help. If you
have a real need for some household
article, for clothing, or a new car or
repairs to the house, make them now.
Now is the time to relieve the suffer-
ing of hundreds and thousands, by
being unselfish enough to spend lit
tie extra money that may have been
held for the future.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-11-26

When chief executive of this great
nation, Theodore Roosevelt i'm presi-
Dental message on Dec. 3, 1906, sug-
gested that Congress pass heavily
progressive Inheritance tax. By this
and other efforts in behalf of the COM
mon people the great Colonel engen-
dered the opposition of the special priv
ilege forces of America, but obtained a
place in the hearts of the masses as
champion of their rights. Presi-
dent Roosevelt never would have al
lowed a man like Andrew Mellon to
be a member of his cabinet as secre-
tary of the treasury. Mellon has con-
tinually advocated a lowering of both
income and Inheritance taxes which
is certainly a grave blunder from the
standpoint of what is best for the
country as a whole.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-11-26
FROM OUR EXCHANGES
Editorial Comment From Other News.
papers. Which May or May Not
Conform With the Opinions
Of the AskOv American.)
TAXING BOND GAINS
THE PrOgreSSiVe)

The government practice of taxing
as income the profit which corpora
tons make when they buy back their
own bonds for less than their face
value or original selling price was in
dorsed this week by the Supreme
Court in one of Justice Oliver Wen
dell Holmes concise decisions.
The case was watched with extreme
interest by business men everywhere.
Depressed security prices have made
it highly profitable for corporations to
buy in their certificates of indebted
ness prior to maturity, when they
would have to pay the face value.
The government had estimated that
if the lower court ruling handed down
in the case of Houston (Tex.) lum-
Der company here upheld the Treas
ury would have had to return about
SIC, 100000 in taxes.
The Kirby Lumber Co. of Houston,
had bought in $1,O7S,3OO par value
bonds at $940,77S, a net gain of $137,-
521. 1t fought a tax assessment on
this amount and won in the Circuit
Court of Appeals.
The lower court ruled that the gain
was an addition to capital since it
could not be dispersed in dividends.
1t wrote a lengthy opinion drawing a
distinction between such a gain and
income.
Justice Holmes, always a champion
of clarity and brevity, noted that the
lumber company had made a clear
gain and added, 1--WE see nothing to be
gained by the discussion of judicial
definitions"
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-11-26
OVERLOOKING SOMETHING

Silas H. Strawn, president of the
United States Chamber of Commerce,
said recently: "Too many are COM
planning about being poor-too few
are admitting they have been foolish.
While l would not minimize present
conditions, 1 feel very strongly that
we are emphasizing too much the
evil factors and are overlooking the
great natural resources of our coun-
try"
To be sure too many of us have
overlooked, the great natural resources
OF our country that Mr.. Strawn speaks
of and that is one reason for the
predicament that we are in, for there
is plenty of wealth in the country,
only it is poorly distributed But it
is also very evident that small group
of men have not overlooked the great
natural resources. Some times the
evil factors have to be emphasized
in order to get at the root of it, though
the few who are satisfied with the
present distribution system dislike
hearing it. Whining, crying, and pes
simistic talk and writing becomes
monotonous, but it is difficult fer those
in the bread lines to be very optimistic
or for those who are given dole"
as the wealthy would like to have it
called, to be very cheerful. When folks
are down to the bread lines they are
not i'm position to stand up and do
much fighting for their own rights
and of course the battle for those
must be taken up by others who are
still able and physically fit. But with
out whining and crying the facts can
be told and should be told if we are
to learn and profit from past expert
ences, though it would be far more
pleasant to tell only of good things,
to be cheerful, optimistic and always
smiling.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-11-26
SALVAGE OF INTEREST

At last investigation has progressed
to the point where it is apparent that
an attempt will be made to salvage
the wreck of the Lusitania, sunken
liner which was sent to the bottom
after having been tOrpedOed by a Ger
man submarine in 240 feet of water
off the coast of Ireland. In the 16
years that have elapsed since that ill
fated event which carried over 1000
lives to the bottom of the sea and
which was one of the reasons for the
United States entering the World war.
several discussions have taken place
concerning the feasibility of making
salvage operations on the giant YES
sci, but now it seems probable that an
attempt will be made. Since the spot
has been marked with a buoy, since
the ship lies in an upright position
on the bottom of the sea and with
modern methods which science has af-
forded, it is not thought to be a too
difficult task to salvage the more i'm
portant things about the vessel.
Many articles of historical value, it
is thought, will be recovered and will
be placed in museums. Many through
out the country will welcome the OPP
pOrtunity of reading of and viewing
what has been hidden in the dark
waters of the deep for these many
years.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-11-26

of anyone who has ever devised a con-
stitutiOnal provision guaranteeing
that the revenue derived from an in
come tax will replace other taxes?
Twenty states have an income tax and
no one of them has such a provision.
No lawyer yet has been discovered
who has sufficient ingenuity to draft
such provision and many of the great
est in the country have tried it. An
effort to do so promptly discloses that
any effective provision would be dan
gerous to the public welfare; and if
not effective it of course would re-
suit in only expressing a fond hope
and would be utterly useless. It
should be noted that those who talk
about replacement never offer a tan
gible suggestion of how it can be
done. The word replacement is
merely a bogyman, conjured up to
mislead and deceive the voters and to
defeat the amendment. OF course
every one expects and desires the rev.
enue derived from an income tax to
be used to replace some of the unjust
property taxes"
EDWARD ]. PROCHASKA.
Pine City, MINI.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-11-26
MOOSE LAKE DRUG STORE TO
DISTRIBUTE McKESSON LINE
Pine City, MINI.

The Reliance Drug Store of Moose
management of Carl A. Bromberg and
Bob Floyd respectively have arranged
to give prizes to five popular little
girls between the ages of one and
thirteen years. An advertisement con-
tanning the announcement of the
prizes and the means of getting them,
appears elsewhere in this issue of the
American. The management of that
drug store would like very much to
see at least one of the prizes go to
some little Pine county girl.
McKessOn Line Handled.
The Reliance Drug Store also an
nounces that it has been successful
in obtaining the McKesson line Nc
Kesson and Robbins, manufacturers
of the line, is reputed to be one Of
the oldest drug concerns in existence
and one of the largest distributors
of drugs, drug products, toilet articles
and drug sundries. Their manufactur-
ing plant is located at Bridgeport,
Conn.,, and is one of the most modern
and uptodate plants of it's kind in the
country. Many products of national
prominence have been developed in
this plants very modern research
laboratory. McKesson merchandising
policy fits right in with the Reliance
Drug Store policy of handling only
the highest quality merchandise at
fair prices with up-to-the-minute
service. McKesson's radio program is
broadcast over the N. B. G. chain each
Tuesday evening at 8 p. m.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-11-26
A TALE OF TWO SUBSCRIPTIONS
(St. Louis County In

(St. Louis County independently
New York City is trying to raise by
subscription a fund to care for the
unemployed this winter. Though do
ing better than most cities in this
regard, she is having difficult time.
But when the Metropolitan Opera sea-
son opened there last week, it was
found that more than 100000 had
been subscribed in advance for seats,
says Labor.
There is no depression at the opera.
There is no depression at the ex-
pensive hotels. There is no depres-
sion at the "swank" clubs, where rich
men cultivate the gentle art of doing
nothing. But three-quarters of mil
lion workers in New York are jobless;
and probably fourth of the popula-
ton of the city will need help to keep
from starving or freezing this winter.
And New York, richest city in the
world, is having all kinds of trouble
raising the funds needed to care for
the unfortunate.A
What is the answer? He who runs
should be able to read it. Instead of
begging for charity, take the required
money in taxes, reaching those who
have not suffered by the depression
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-11-26
DRIVE NEARLY CLOSED
(The Minneota Mascot)

Minnesota's drive for lower local
taxes is about over for this year-the
levies are soon to be spread and the
record of accomplishment will then
be known. 1t is estimated in advance
that the total cuts effected by cities,
villages, townships, school districts,
and counties may run over 100000.
That is quite sum of money, but
compare it with the 1923, 500, 900
levied in 1880, for collection this year
and deduct four or five million and
there is still quite a bit left to pay.
Then add the $4O,OO0,OOO that are
collected in special levies and you see
how big this problem of tax reduction
really is. The cuts that have been
made locally have meant important
sacrifices, and in some cases some un-
wise economies have been effected
yet in the majority of cases there are
few counties that would be able to
make any further cuts right now if
they set out to do so. This makes it
quite obvious that there is a limit to
even the relief that can be brought
about through the reduction of local
levies. When incomes fall and the tax
burden does not fall with them, tax
reduction becomes an issue. The
shrink in the income is just as much
part of the problem as the question
of taxes alone, and of equal impor-
lance is consideration of the equal
| ity with which the tax burden is dis
tributed in the assessment of all
classes of property. A drive for re-
duction in local taxes should not
obscure these fundamental problems
which underlie the whole economic
tangle in which we find ourselves to.
| day.
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-11-26
NIXON BONDS

The bond election in Kettle River
township, one of the northwest town.
ships in Pine county, held Saturday
for the purpose Of voting $4,000 bonds,
showed that people have come to the
conclusion that voting of bonds has
been overdone and must be stopped
except on rare occasions where it is
very necessary. The proposed bond
issue to take up outstanding warrants
In the above mentioned township was
turned down by vote of better than
two to one. Undoubtedly the motive
back of the proposed bond issue was
good one-that of saving interest
charges-but time has proven that
bonds are paid up slowly. When the
time comes to pay, if the money is not
available, there is a strong tendency
to bond again and so it goes on with
interest charges upon interest charges.
Many townships and villages have
bonded to get on a cash basis, only to
run into debt again by spending more
than current tax collections and in
another ten years or so another bond
issue was floated, making the indebt-
edness greater. The thing to do, and
the voters in the above mentioned
election pointed the way, is to get
more on a cash basis. 1t may be hard
on the present income but that is
what will save the situation in the
long run. Our expenditures should
always conform to our income. Spend
no more than we earn, and if our
earnings are not commensurate with
our production, which is a proven
fact, then labor to increase the earn
ings. Bond issues in many cases are
attempts at passing the buck, but
those bond issues, especially the local
ones, usually become a heavier bur-
den upon ourselves.