davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-05
AUTHORITY TO POSTPONE
PAYMENTS is GRANTED

The Colombian government issued a
decree on October 81 authorizing the
Exchange Control Board to deny or TO
postpone payments for servicing DEPART
mental. municipal and mortgage bank
loans abroad If, il the opinion OF the
board, such step is advisable, according
to a cable received today In the De-
partment of Commerce from Acting
Commercial Attache James J. O'Neil at
Bogota, Colombia.
These entities, III such cases, are OBJ
ligated TO deposit at the maturity date
with the Banco dc la Republica to the
order Of the creditor, the correspond
ing amount in pesos for tranSmittal
abroad when, at the discretion Of the
Control Board, such payments can be
made according 10 the terms Of the de-
cree.
The object is TO enable the Banco de
la Republica to maintain its gold re-
serves and to attend to the servicing OF
the national government loans. The
Banco de la Rerublica is authorized to
transfer part of such deposits to credit
institutions in Columbia and part OF
same abroad. Each case Is subject TO
government approval.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-05
Baltimore Markets
Special Dispatch to The Star.

Special Dispatch to The Star.
BALTIMORE, Md, November S.
White potatoes, 100 pounds, 15a1. 10;
sweet potatoes, bushel, 35a50; beans,
bushel, 5oa2 IS; yams, barrel, LOCAL %;
beets. per 100, 1.50a2.50; Brussels sprouts,
per quart 10a20; cabbage, bushel, 4Oa
60; carrots, per 100, 2.50aS.50; lettuce,
Ger crate, 2.30a3.25; caulif1ower, crate,
1.00al.75; celery, crate, 150a2.75; Gu
cumbers, hamper, 2.50a3 so; lima beans,
hamper, 1.o0a300; okra, bushel, 2.00a
$50; peppers, hamper, 25a75; egg
plants, crate, 3.50a4 90; onions, per 100
pounds, 175a2.00; oyster plants, per
100, 5.00a600; spinach, bushel, 30a60;
tomatoes, hamper, 40a1.00; turnips,
hamper, 15a25; Gamers stock, 2.00a
$50; lug boxes apples. bushel, 50al so;
cantaloupes, crate, l.50a2.25.
Dairy Market.
Chickens. young, l9a20; Leghorns,
16a17; old hens, l7a23; Leghorns, old,
12al7: ROSTERS 12a14; ducks, l2a19;
pigeons, pair. 25a3o; guinea fowls, pair,
25a55; turkeys, 25a28.
ggs-Receipts, 1884 cases; current
receipts 22a30; hennery whites, 38a40;
nearby firsts, 80; Western firsts, 80.
Butter-Good and fancy creamery,
2sa32; ladies, 2oa22; process, 24a25;
SLCTS pdCkeu, 1OdAp.
Live Stock Market.
Cattle-Receipts, 400 head; fair sup
ply: market dull.
Steers-Choice to prime ncne; good
to choice, 725a7.50; medium to good,
6.00a7.00; fair to medium, 5.50s6 90;
plsin to fair 4.75a5.5o; common to,
plain, 4o0a475.
Bulls-Choice to prime, meme; good
to choice none; medium to good, 4.00a
450; fair to medium, 3.50a4.00; plain
to fair, 3,25a3.5o; common to plain,
Ccws-Chcice to prime none; good
to choice, none; medium to good, 3.75a
4.25; fair to medium, 3.2523.75; plain
to fair, 2.5oa3.25; common to plain,
1.5oa25
Heifers-Choice to prime, none; good
to choice, 5.50a5.75; medium to good,
5 .25a5. so, fair to medium. 4.75a5 rs;
plain to fair, 3.75a4.75; common to
plain, 325a3.75. Fresh cows and spring
ers, 30.00a60.00.
sheep and lambs-Receipts, 500 head;
light supply, market lower; sheep, l.00a
3 90; lambs. 3.50a725.
Hogs-Receipts, 500 head; light sup
ply. market steady; lights, 5.30a5 SIS;
heavies, 510a5.5o; medium, 5.35a5 IS;
375a475; light pigs, 5.15a5 IS;
pigs, 5.35a555.
Calves-Receipts, rs head; light sup
ply. market steady; calves, 3.5oa8.5o;
no extras.
Hay and Grain Prices.
wheat-No. 2 red Winter. export, no
quotations: No. 2 red Winter, garlicky,
spot. domestic. Sta; November, 6712;
December, 687s.
Corn-No. yellow. domestic, spot,
So: cob corn, new. 200 per barrel.
Oats-No. white. domestic, spot,
36l2a37: No. 3, 35l4a36.
Rye-Nearby, 50a55.
Hay-Receipts, none. New hay is
sterling to arrive in increasing quanti-
ties, but so far no official grading has
been attempted, selling being strictly
en- merit. Demand for old hay slow
and market is dull and quiet with
prices in buyers favor at a range of
IL ooal7.50 per ton.
Straw-No. ! wheat, S.5oa9 90 per ton;
No. / oat, sooalo.oo per ton.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-05

the means Of isolation for its possessors.
and may prove a weakness instead of
strength to them, according to Gen. Jan
SmutZ, South African statesman econ
omiSt
The general criticizes the South Afri-
can financial policy of retaining the
gold standard in the face of the whole
British empire having abandoned it. 1t
Is this policy, continues Gen Smutz
which handlcaps South African ex-
porters heavily in their competition with
exporters in other lands which rely on
the British market, with its suspended
gold standard. He also expresses the
fear that other countries will be obliged
to resort IN the not distant future to
suspension Of payments in specie.
Another prominent international in
stltution has Succumbed to the effects
OF the economic depression. This time
1t Is the Banca Commercials Italiana,
Italys largest bank and one of the lead
ing financial enterprises in Europe, with
ramiflcations in all parts of the world
including the United States. The B.
c. l., as 1t is generally referred to. is
also known TO American investors
through the sale in the American mar
ket Of several million dollars worth of
stock which Is officially listed on the
Boston Stock Exchange.
In view Of the Importance Of the in
stitution and Its intimate connection
with the economic life OF the country,
the 1taIlan government is aiding it in
the reorganization of its business so as
to obtain additional LIQUID resources
with which to meet current liabilities.
The reorganization plan provides for
formation Of new industrial financinp
concern, which will take over the banks
industrial participations. estimated at
5000 600 600 lire. equivalent 10 about
company will issue debentl,reS which
Will bear the guaranty OF the Italian
government. AS some OF these par
ticipations are of sound quality but not
readily marketable, the above plan viii
permit the orderly liquidation without
itorS.
(CopyriEht. 1881 By the Nortb a-.r,..,
newspaper Alliance Inc)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-05
STEEL PRODUCTION
GAIN IS REPORTED
Increase in Pittsburgh Dis
trict Aids Sentiment in
Industry.
BY the Associated Press.


NEW YORK, November 5.-A fur
Their slight rise in steel production,
mainly In the pittsburgh district, and
a marked improvement in sentiment,
resulting partly from rising prices for
grains and cotton, and the imminence
Of enlarged automobile manufacturing
schedules have aroused expectations
that November may bring an upturn in
steel operations after a decline that
has been continuous since last March,
Iron Age says in its weekly review.
Although the steel industry is re-
straining its optimism in view of past
disappointment" the review says, 1T
sees for the first time In months the
possibility OF moderately better busi-
ness.
Estimate Of Operations.
steel ingot operations are estimated
this week at 80 per cent Of capacity
for the country as q whole, against
20 per cent last week and 20 per cent
the week before. Further gains are
likely to come from automobile tom
mage now being released.
Farm implement manufacturers are
much encouraged by the advance in
grain prices, and may increase output
soon II the outlook in the agricultural
sections continues to improve. Other
farm buying of steel and its products
may also be stimulated.
"A reduction in railroad wages would
be regarded by the steel and equip
ment industries as an important factor
in the restoration of the buying power
Of the carriers. Recent rail buy
of operations at the Carnegie Steel CO.
rail mill, which has been idle for some
time.
Building work calling for steel is at
low ebb, but considerable number
Of projects, mostly of a public char
acter, are soon to be placed.
THE slowing down Of the decline in
iron and \Steel output in october Is
shown by the blast furnace figures,
last months average daily rate having
dropped only % per cent below that
latter month from August was about
SIS per cent. The daily output in Oc-
tober was 37,84S tons. against 38,964
tons in September.
Months Total Gains.
1.-THE months total of l,I73, 286 tons
was slightly above that of September
because of one more working day. The
October daily rate was the lowest since
September 1921, and the 10 furnaces in
blast on November / also made a new
low record since September /, 1921.
There was a net loss of three furnaces
in the month For the 10
months of this year the decline in pig
iron construction has been a. per cent,
as compared with 1890"
The Iron Age composite prices are
at 2.ll6 cents a pound for
finished steel SIS q gross ton for pig
iron and $S.71 q ton for steel scrap.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-05
Grain Market

BY the Associated Press.
CHICAGO, November Squared by
reports drought had cost Russia a loss
of $50, 900, 900 bushels of grain this sea-
son, wheat prices vaulted today to new
record heights. There we're also pre-
dictions of smaller shipments Of wheat
from Argentina TO Europe. Trade was
on q big scale.
Opening at 3s-l1s cents gain. wheat
continued to climb. Corn started I'M
changed to u up and afterward rose
further
Not only wheat but corn, oats and
rye outdid the seasons previous top
quotations IN the face Of immense
profit taking SALES on the part Of re-
cent buyers, new purchase orders kept
Surging into the cheat pit. with brokers
so crowded there that footholds on the
upper steps weIe precarious. More
than cents bushel rise was quickly
scored by wheat, with December con-
tracts the strongest. as being likely
looked for TO supply from North
America Europes breadstun needs.
Adding to the imcptus of the specula-
tive buying rush was announcement
that Black Sea shipments Of wheat In
the last week lad been practically cut
in half as compared with the week
previous and year ago.
Word OF entire absence Of new Of
ferings of wheat export from Russia
had q further bullish influence EN-
phaSizing the reported critical position
of transatlantic consumers was also q
trade statement that shortage Of the
world rye crop amounted to $4,000, 900
bushels, a circumstance regarded as
greatly aggravating the European bread
stuff situation. Latest official estimates
Of Argentina's new wheat export surplus
showed q reduction of rs 900 900 bush
els from last year. Corn, oats and
rye advanced with wheat, commission
house demand for all grains showing q
notable increase
Provisions responded to upturns both
in hog values and In cereals.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-05
ESTIMATE
FOR TRUCKS GIVEN
Maximum HauIage in U. S.
Declared to Be IS Per
Cent of Total.
BY CHAS. r. SHAEFFER,
Associated Press Business Writer.

w. r. Smith, president of the Amer
lean Road Builders Association, de-
clares that If all the highways in the
United States now used by trucks in
competition with railroads carried all
the trucks that could be put on them
they could handle only Is per cent Of
the freight available.
Mr. Smith predicated his statement
on report by the Interstate Commerce
Commission, which held present high
way capacity for truck hauling was
only 100000, 900, 900 ton miles annually,
or Is per cent of the commissions fg-
ure of 650,000,000 900 ton miles of
freight available in 1929.
The commissions figures showed that
only per cent of the available freight
is handled by the combined activities
of electric railroads, trucks and air.
planes. Railroads handled 1873 per cent
of all freight, pipe lines conveyed 40
per cent and inland waterways handled
1853 per cent.
Passenger travel by automobile was
held by Mr.. Smith to be many times
were 81 900 900, 900 passenger miles Of
travel on railroads, he said. while eSti-
mates based on $4,000 ,ooo.0o0 gallons of
gasoline consumption at IL miles per
gallon for each vehicle and two pas
sengers per car, showed more than $780,
600 ,o00, 900 passenger miles Travelled by
highway.
only small part Of the 100000
miles of highways in the United States
handle trucks in competition with rail-
roads" he said. 1T Is probable that
the competitive mileage of roads does
not exceed 100000 the other 2,70c, 900
miles serve as feeders to the railroads.
Without highways as feeders and art
cries for the delivery of railroad freight
the railroads would have to go out of
business"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-05
INCOME TAX LAW REVISIONS
MAY BE CAUSED BY DEFICIT
Bitter Controversy Is Expected In Next
Congress as Result of Efforts to
Increase Tax Returns.

instead Of q large deficit. Great Brit
ain In September placed o heavy pen
atty not only on large but on small In
comes. Representatives in Congress
will undoubtedly protest vigorously
against any increase In the income tex
on small-Salaried men and women or
those who live on moderate compe-
tencies The drive will be against In
dividuals with incomes from sic. 900 up.
1t will probably include . pronounced
effort to bring about q revision of in
heritance taxes.
Included in the income OF individuals
reporting in 1928 were profits Of nearly
$4,000, 000, 900 from the sale of real
estate and securities. The figure for
1929, when available, will also show an
other large item of profits from these
sources. The picture changes, however.
for 1880. 1t Is even darker for 1881
In the last two years holders Of securi-
ties and real estate have been mourn
ing over their losses, not rejoicing over
gains.
There Is q growing feeling that II
income taxes are to be imposed ut a
higher rate they should include that
great army OF State and municipal en-
ployes who are now exempt from Fed
eral taxes in so far as their incomes
are derived from strictly municipal and
State activities. There seems 10 be no
good reason why many such employees.
drawing salaries from $4,000 to $4,000
year should not pay their portion of
the cost OF Government, inasmuch as 1t
Is from the Government and It's various
political divisions that their income is
derived.
Committee Report Recalled.
Furthermore, as has been recently
shown in the report of the Hoover Com
mittee on Unemployment Relief. there
is q vast group in Federal, State and
local public service under civil service
appointment which in general has not
felt the pinch Of unemployment, nor
been called upon to share their hours
Of work" 1t might also be added that
within this group there have been prac-
tically no salary reductions in the past
year and half.
Copyright, 1917
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-05

a balance of we'll over million dollars
applicable to the common, Of which
4,l52,545 shares remain outstanding.
The amount available for the COM
mon for the corresponding period last
year was approximately three times as
large as in 1881.
Operating and overhead costs of the
owens Illinois Glass Co. have shown
successive declines each month this
year, according to William z. Lewis,
president.
Mr.. Lewis also points out that these
oecnneS are the result OF economies put
INTO erect, and are an indication OF the
relative stability in the demand for
glass containers. even under present
conditions. He refers to the improved
financial status Of his company, as evil
oenced by the fact that the $4,000, 900
oeoenture issue of 1929 has been re-
duced TO $4,000, 900, due largely to pur-
chaSes made by the company itself.
IN view Of the relatively unsatisfac-
tory oudgetary position of the United
States, II is generally believed that the
treasury Department will soon submit
10 PRESIDENT Hoover a project calling
Tor an increase in taxation. Both Sec
retary Mellon and Undersecretary NILS
are understood TO be engaged in work
Ing out the details OF the recommends
tons
The revenues for the first four
months q the 1882 fiscal year show a
cecllne OF $256,0o0,0 900. while expendi-
lures increased during the same period
ny $2SS 600 600. The indications are
mat, barring an increase in taxation.
me cehclt for the year ending June
81 1882, may amount to as much as
$@'OOo'0oO.0o with the possibility OF
mounting TO $4,000 900 900. What form
me proposed taxes will take is too early
% state. although 1t is not impossible
mat an increase in the present level OF
Sur1ax may be decided upon.
Sterilization Of OIL.
The Sterilization of crude oil prices
IN Oklahoma and Texas is attributed
20 tnree major causes by Secretary Of
me interior Wilbur. who has been In
StFuInental in assisting the oil industry
IN the United States Withdrawal OF
PUBIC lands from drilling is the first
o. Inese causes, according TO Mr.. Wilbur.
ne other two include the develop
ulehI OF unit operation in the Kettle
man Hi! oilfleld in California, by
HesnS OF which this field was kept
rom coming IN flush at q time wnen
mere vas no market for oil already
pIoouced and above ground, an5. third
~, the development OF cooperation
aLlong principal oil-producing States
MLlSh brought about proration and Its
ton.
The favorable effects OF the above are
: OS,ns ieit n the oil securities market
ohleSS gold - fairly distributed, II IS
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-05
CONTROL OF TRUCK
OPERATIONS ASKED
Attempt to Limit Activities
of Carriers Made in
Several States.
BY GEORGE z. DoYING.

The battle 10 control the operations
of so-called contract carriers by motor
truck is assuming major proportions
and, incidentally, becoming more COM
plicated
The Supreme Court Of the United
States spoke on the subject when it
held unconstitutional Florida statute
which attempted to regulate all con-
tract carriers, but exempted trucks used
by farmers to haul agricultural products.
Now the same court is preparing to
consider the validity of Texas statute
regulating the transportation OF cotton
over the public highways. a Federal
District Court having held the act
invalid.
other Decisions.
Several other Federal District Courts
have been called upon of late to decide
whether particular statutes as applied
to contract carriers are constitutional,
same way.
A three Judge court in Kansas held
that States new law unconstitutional
as to that part which exempts farmer
trucks, but sustained the act In its levy
of a special tax against contract as
we'll as common carriers.
A West Virginia court found that a
requirement for classified licenses, plac-
ing private contract carriers In a
separate group, is valid. In the same
State the attorney general has ruled
that travelling salesman who carries
sample cases and receives any extra
compensation for the use of his own
automobile must be classified as a
private contract carrier.
Another Federal Court decision in
Texas holds that the business OF operat-
ing a motor carrier for hire is affected
with a public interest This three judge
court disagreed on the conStitutionality
of the act, the majority holding that
the State has right to regulate con-
tract carriers.
The latest decision on this subject
comes from Michigan, where Federal
Court sustained an act of the 1881
Legislature and expressed the opinion
that there is a substantial basis for
separately classifying the contract
carrier and the owner-carrier.
Attempt at Limitation.
"Those who make use of the high
ways the basis of their business, and
those who use the highways only in
cidentally to their main business" the
court said, may well be thought to re-
quire variant treatment in the matter
of highway use and regulation"
The State of Ohio is attempting to
limit the number Of trucks on the
highways by denying permits for opera
ton on congested roads.
Whether Federal legislation for the
control of trucks would materially affect
the general situation is doubtful. 1t is
pointed out that there are about
3,370,o trucks in the United States
and that 81 per cent are owned and
used by the shippers themselves. About
ii per cent are said to be operated by
contract carriers and only z per cent
as common carriers, while of the last
mentioned group only 1l2 per cent are
engaged in interstate commerce.
Copyright, 1872
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-05
STOCKS PUSHED UP
ON CURB EXCHANGE
Strength in Commodities and
Better Trade News
Aid Market.
nv IoHS A. CRoNE.
ss-~,sl ospstetl % -. star.

ss~-'si Dispatch 20 re star
NEW YORK. November 5--Stinu-
1xJed by the strength Of commodities.
along with scattered reports OF improv-
Ing business or better earnings. stocks
on the Curb Exchange moved higher
To-day.
At midday some nrofit taking erased
part OF the early gains
Electric Bond e. Share at times was
up more than a point. which was true
OF American Gas 81 Electric and few
others. On the downside In the utility
group Middle West Utilities stood out
Cities Service was virtually unchanged
Wide movements were the feature Of
Athe firrt few hours Of trading. Swiss
American Electric preferred at one time
was UP 10 points Nevada California
Electric was of about rs points and
National Public Service B was down 5
points
Gains approximating points or more
included such issues as Aluminium Co.
of America, Empire Reinsurance, Stand
ard Power a. Light preferred. Singer
Manufacturing and Great Atlantic q
Pacific Tea. Northwestern Yeast lost ii
points
The Curb Exchange opened higher,
but volume OF trading was rather light.
Electric Bond A. Share at ak was
up "a Cities Service was of a small
fraction at TIA but quickly recovered.
The cheerful tone Of the London
market was not mirrored here imme-
diately. as Ford Motor Ltd. was down
fractionally at q, and Brazilian Trac-
ton and Woolworth Ltd common were
unchanged
The Standard CHS continued their
forward movement. with Standard OH
OF Indiana up "a on the FIRST few trades.
Imperial OIL at IL was up y. New
mont Mining rose a half point to IL
Aluminium Co OF America opened up
IL. Deere a. Co. continued its i'm
provement based on the rise in grain
values.
Copyright. 1917
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-05
BY CHARLES z. SPEARE.
Special Dispatch to The Star.

Special DtSpatCh 10 Inc star.
NEW YORK. November 5.-with the
decreasing Government receipts this
fiscal year. il is daily becoming more
apparent that some radical changes In
the income tax laws must be made at
the next session of Congress in order to
cover that gap between the pants and
the vest" by which Uncle Joe" Cannon
once characterized the Treasury deficit.
The combination of falling income
tax returns and those from tariffs and
internal revenue has played havoc with
Treasury finances at a time when heavy
new borrowings have been necessary in
order to meet additional payments TO
war veterans and when foreign debtors
have suspended their annual install.
ments under the debt holiday" privi-
lege of last June. 1t is now estimated
that the Government deficit for the
fiscal year ending June 80, 1882, will be
in excess of 50 900 900, 900. This is twice
as much as the entire pre-war Govern
ment debt It Is the nightmare OF Treas
ury officials. Around 1t Is likely TO de-
veiop one of the bitterest controversies
in Congress this Winter.
1928 Figures.
The latest detailed figures OF income
tax payments issued by the Bureau of
Internal Revenue are those for 1928.
In that year, OF the 4,o70,S51 returns
submitted by individuals, approximately
3, 100000, or rs per cent. we're in the
class of those with incomes from below
81 900 to under $4,000. 1t is these groups
that have paid. and are now paying,
the smallest percentages Of income tax.
In the group between S. 900 and up to
SIS, 900 is represented % per cent of the
total of those making returns. Another
Oh yNaY. cent inrludaC those with An =
comes from $25 900 up to 500, 600 The
small remainder embraces those fortu-
nate individuals who have income from
100000 to 81 900 900 and over.
Numerically, therefore, those within
the Surtax bracket are small in COM
parison with those against whom are
assessed the minimum income tax
charges. In adjusting her budget so
that there would be balance next year