davidaulloa/AmericanStories huggingface dataset:
Evening star., 1931-07-29
TRADE AT LOW EBB
IN SOUTH AMERICA
Commerce Department Is Not
Aware Of Moratorium
Plans, However.

By the Associated Press.
The Department Of Commerce Ia not
aware Of any steps leading 10 o mora
torium for South America.
Admitting o great deal Of unoficial
discussion has taken place there as to
the possible benefits which might de-
rive to South America from . debt
holiday. nevertheless the department
believes such an ofiicial procedure would
hardly escape its trade attaches rep
represented in all the countries, all Of
whom report ignorance Of any such
step.
In this connection it was said the
American Government would not be
consulted in such Q matter, unlike the
recent reparations treatment in Europe,
as the external loans of South America
consist Of bonded indebtedness of the
various countries to individual Amer
lean investors, while the monies in
volved in Europe represented amounts
due one government by another.
The department says II agreement is
sought OF creditors as to poStponement
OF debts the various governments af-
fected would have to negotiate with the
idtv1dual investors themselves, possibly
through committee Of bondholders, a
procedure holding but slight promise of
accord.
? On the other hand, the department
believes that II the exigency should
arise the governments affected will,
without further ado, fail to deposit with
the American fiscal agent the amount
due to meet maturing bond interest as
was the case with Chile and Ecuador.
These countries made no provision for
interest payments in the United States,
Haak NQafA -
meet bond interest had been deposited
In local banks in the interest Of in
vestors. Such action is tantamount 60
postponement Of payments, the de-
partment believes.
That most South American countries
are in q difncult position, financially.
Is admitted at the department. The
prices Of principal commodities have
decreased sharply, including coffee,
sugar, wool, cotton and oil. This de-
crease revenue affected the balance Of
payments of the countries. resulting in
the various central banks, thus bring
ing about q depreciation Of currency.
This situation was met by o general
raising of import duties to shut out
incoming shipments and thus balance
the trade. An adverse situation arose.
however. due TO q sharp decrease in
government revenues derived from i'm
port duties which forced the govern
ments to pare their expenditures In
order to balance the budgets.
Advocates Of moratorium for South
America hold to the belief that such
action would hasten recovery due to
temporary elimination Of the difnculty
Of servicing its foreign debt. Opponents
of the plan say such q procedure would
imply insolvency and would render the
matter Of future financing extremely
difficult.
Evening star., 1931-07-29
GEORGIA TOBACCO PRICES
ARE REPORTED HIGHER

BY the Associated Press.
MACON, Ga, July 29.-Georgia to-
bacco planters went to market yes
terday and found the opening 1891
auctions rather drab.
This, however, did not dampen their
enthusiasm for spirited offerings in
later biddings, as a dull opening was
anticipated, due to late maturity Of
bright leaf in the belt.
First offerings bore out Government
predictions of a sharply curtailed crop,
forecast recently on reports OF acreage
reduction and adverse weather.
The 81 markets in the State opened
with good crowds INT. the floor supply
was plentiful. particularly at Adel.
where more than a qusrter Of million
pounds we're available.
Prices improved as sales proceeded
and an unofficial report said the av-
erage price there was about Z cents.
The only ofi1cial prices reported in
the belt came from Douglas, where the
United States Department, Of Agriculr
ture is maintaining crop-reporting
service First-quality orange lugs there
brought $3.50 near the opening, while
fifth grade brought $2.20.
Evening star., 1931-07-29
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, July 29.-The following
is a summary of important corporation
news prepared by the Standard Statis-
tics Co. Inc, New York, for the Asso-
ciated Press:
News Trend.
Revenue freight car loadings for the
week ended July 18 totaled 757 ,555 cars,
a decrease of 6,026 from the previous
week and 17O,716 cars less than in the
corresponding week last year. Decreases
were reported in all commodities except
grain and grain products, forest prod
ucts, ore and live stock.
The first II railroads to report June
earnings showed a decrease In net oper-
ating incomes of 26.5 per cent from last
year, which Is better than these same
roads reported in May when net operat-
ing incomes were 38.1 per cent below
May, 1880.
Abitibi Power & Paper, Ltd. reported
planning per cent wage cut for all en-
ployes.
Ainsworth Manufacturing June quar-
Evening star., 1931-07-29

Cnan real.
Merger May Aid Oil Trade.
Consummaticn of the merger between
Standard Oil Of New York and Vacuum
is expected to exert favorable effect
not only on the operations of the two
| units themselves, but on the oil indus
try IN general.
Accc riding to Charles E Arnott, presi-
dent of Vacuum, the combination should
bring to the oil industry stabilizing
factor that already has the good will OF
! its competitors. Mr.. Arnott adds that
all the econc mics and advantages OF
ioint. operation must work to the favor
of the stockholders.
Banking Situation in West.
TIE banking situation in the Middle
West does net seem to show much i'm
rrovement. For the first six months
of this year, 684 banking institutions
closed down, with aggregate deposits OF
s453, 1894, 900, as compared with ATT In
the same period last year, with deposits
tctsling $208, TAI 900.
! Suspensions for the past month were
the highest since January of this year
while deposits of banks closed in June
amounting to $218,013,000, we're the
largest total for one month on record
except for December of last year, when
the failure CT the Bank of United States
accounted for the record total Of de-
posits to be affected by bank suspen-
sionS.
Dollar at Discount.
How many realize that in at least four
important financial centers the United
Gofo dnl1a~ iS nnefQd at q discount 2
Yesterday the dollar was worth in Paris
only 1894 per cent of par; in Brussels
/, the value YVES $3.50 per cent, and in
Amsterdam, 1910 per cent. In Zurich
the discount was largest, amounting to
/ .03 psr cent, the dollar being quoted at
only $3.50 per cent Of par.
i Home Market Financing.
Many a country whose bonds are SELL
ing in the New York market at bank
ruptcy prices may, several years hence,
come to be regarded as high-claSs
credit risks. It will be recalled that not
so many years ago France, Belgium,
Switzerland and the Scandinavian
countries were obliged to contract
loans in the United States at mate
rally more than per cent.
Most of these loans have been paid
off, and. whatever financing is arranged
now is 0one Cnleuy III tne HOIHc mar
ket. Belgium Is the latest example
She is now floating 75-year internal
issue OF 1000, ,00O, 900 francs, equivalent
to $27,810,000. Bonds bear interest at
the rate Of S per cent, and are being
offered at 96.
Hungary Seeking Loan.
Hungary is seeking a loan Of about
$40,000.000. France Is expected to take
half. In this way, a better feeling may
be established between France and
Evening star., 1931-07-29
OIL SHUTDOWN ORDER
WILL BE ENFORCED
Oklahoma Producers Await Result
of Governors Move to Assist
Industry.
BY the Associated Press.

BY the Associated Press.
OKLAHOMA CITY, July "a
period Of watchful waiting. with Satur-
day night the zero hour, was in store
for producers Of Oklahoma crude oil
today, while major purchasers guardedly
viewed latest proceedings In the en-
battled midcontinent area.
The price Of oil at the well, now 40
to so cents a barrel after q recent
climb from q low Of 10 cents. must be
81 o barrel or a complete shutdown OF
all but stripper wells will be ordered,
Gov. w. H. Murray declared yesterday.
What is more, the Governor threat
swing into line peaceably with the pro-
posed shutdown of wells, martial law will
be declared in the fields to enforce the
order. Murray used National Guards
men over the week end TO hold Red
River Bridge approaches near Durant,
Okla, In o dispute with Texas authori-
ties.
Stripper wells would be left producing
because o shutdown probably would
mean their destruction from salt water,
the Governor explained.
He termed the partial shutdown as
now in effect in Oklahoma City's oil
field unsuccessful because those oper-
ators not complying with the shut
down agreement were taking oil from
neighboring property.
Gov. Murray said the price Of oil at
the well should be in the vicinity Of o.
a barrel rather than 81, but he be-
lieved the climb upward would follow
natural channels after once getting .
flrm footing.
Under present conditions, the Gov
ernor pointed out. oil reserves under
State school land were being depleted.
and neither the State nor the children
the revenue kept in schools were aided.
The stripper wells, totaling about 49,
900, produce only an average of about
two barrels each daily. q small frac-
ton Of the total Of nearly half mil
lion barrels possible from Oklahoma's
oil wells. even under stringent prora-
ton now in effect.
Evening star., 1931-07-29

Sales Of Stocks on New York Exchansa
lo3o AM....... 100000 1900 Noon. :. 900 600
l:3c PM........ 100000 P.M........ 100000
Dvidend rates syen in the table
tPartly extra :Plus ~ in stock fPus 81 stock
stock Plus s in stock Plus 2s jPus
preferred stock Plus So in stock. Paid this
no reEula Plus 81 in stock.
Evening star., 1931-07-29

Hungary, which for some time past has
been leaning toward Italy. We learn
from reliable sources that United States
bankers will also participate.
Fundamentally conditions in Hungary
are sound. The budget for the current
year anticipates surplus of 1,0O0, 900
pengoe 0he pengoe is quoted at about
six to the dollar). Service on the coun-
try's debt will absorb 90, ,lOO, 900 pengoe,
or less than 6.73 per cent Of total re-
ceipts, and Slightly ever 10 per cent Of
ordinary revenues.
The entire debt of the nation stands
at about $3.50, ,000,0 900. equivalent to
about $29.40 per capita-a figure which
compares very favorably with similar
figures for other countries.
The major portion cf the debt is ex-
ternal, amounting to about 1921 ,O00, ,000
1t comprises, among others, the 712 per
cent League of Nations loan, issued in
1924 and maturing In 1914. OF an
original issue CT about $4,000 900, ap-
proximately 20 per cent has been paid
of. .-.-'e'
It is Of interest to point out that the
revenues pledged as security for the
bonds amounted, for last year, to sub
stantially more than the total par value
of bonds outstanding. This does not, of
course, take into account the value
which resides in the fact that the
League of Nations Is sponsor for the
bonds.
(Copyrieht, 1891. by the North American
Newspaper Alliance, Inc)
Evening star., 1931-07-29

nothing specific was said In regard to the
extent to which wages would be cut, it Is
worth bearing in mind that a reduction
in wages of 10 to IS per cent would, from
the standpoint of the employe, compare
very favorably with a reduction in divi-
dendS of about 43 per cent. The reduc-
ton in the dividend rate, more drastic
than anticipated, should, therefore, rem
der easier whatever wage adjustments
may be effected.
Those who still adhere to the high
wage theory maintain that reductions
would tend to defeat the one objective in
which President Hoover and his Severest
toration of prosperity. They add that
United States Steel has duty as good
citizenship in this crisis which it cannot
afford to forget, especially in view of the
huge surplus that places the corporation
in a class different from small concerns,
which must choose between reduction Of
operating costs or shutting down.
Evening star., 1931-07-29
VIRGINlAN RAIL WAY co.
EARNS $1.44 ON COMMON

Virginian Railway Co. reports for six
months ended June 80 1881. net income
of $l,290,296 after taxes and charges.
equivalent after dividend requirements
on per cent preferred stock to $l.44
a share on 312,7l5 shares OF common
stock. This compares with $2,O76.56
or $3,95 common share, in first six
months OF previous year.
June net income was $2l6,427 after
taxes and charges, against $275, ,489 in
June. 1890
Statement for June and six months
compares as follows.
Evening star., 1931-07-29
Sterling Above Gold Point.

NEW YORK. July 20 Especially 1t
was evident today that the pound
sterling was being protected In Paris
lust above the gold export point
Switzerland is cooperating In the
movement, Paris advices state, by re-
fusing to import British gold. despite the
quotation Of 24.89 Swiss francs for ster-
ling, which Is below the estimated ship
ping point of 25.01. Other exchanges
were on fractionally today, without.
however. any important changes, except
for the Mexican silver peso. This quo
tation vas below $3.50, compared with
50 20 quoted before the recent decree
which put Mexico on silver basis.
Evening star., 1931-07-29
Washington Stock Exchange

SALES.
Wash. Gas SSH, 900 at 1071a, $1,000
at 1071z. $500 at 1912.
Capital Traction-l0 at AZ, l at 4134,
10 at 4l4, 10 at Al
Pot. Elec 5l2eo pfd.-2 at 1l0l2.
Fed.-Amer. Natl. Blk. & TITO at
49l4
Col. Title Ins. Co.-50 at 8.
AFTER CALL.
Capital Traction CO.. at Az.
Pot. Elec. 5l2% pfd-7 at l107s.
Coml. Natl. Bk-10 at 2l0, 10 at 2lO.
Georgetown Gas 5s-$l 900 at l0534.
Columbia Country Club 512s-$50O at
100l7.
Wash. r. & z. 4s-$1 900 at s2s4.
Bid and Asked Prices.
Evening star., 1931-07-29

Ponies 31a feet high are being bred
at Banchory, Ireland, to replace dogs in
Europe.
Evening star., 1931-07-29

What these people however business the sha
purchasing
dollar by reasonable
Evening star., 1931-07-29

BONDS.
PUBLIC UTILITY.
STOCKS.
PUBLIC UTILITY.

Amer Tel & Tel. (0. l70ia 80.
Capital Traction Co. N. ...... 4o% 43
Wash. Gas Light Co. 13).....'ll5 49,.
NJ g. w. Steamboat DID,. Us eco
Pot. Elec. Power So pfd ... 1l2la 115k
Pot Elec Power 5i2.o pfd..... ll0ss lllla
Wash. Rwy. 6S El. com. o.. $40
Wash. Rwy. El. pfd. 90 se1s looss
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04
What's On
downtown Unemployed Council

SATURDAY
Downtown Unemployed Council
Holds an open-air meeting at 14th
st. and University Pl. at pm.
Daily Worker Affair
At pm. at 2734 Eighth Ave, Apt.
20, Harlem Good program and good
food. Admission Is cents.
City Youth Comm. international
Workers Order
Meets at pm. at 80 Union So,
Room sos
Brighton Beach Workers Club
win give S grand concert sHs at c thsT
island. Good program arranged.
Boro Park workers Club
Has arranged an overnight outing
to Four Corners, S. l. Meet at 1873
43rd st. at 2 pm. and try to be on
time.
workers Ex-seryicemen's League
Branch will hold an open-air
meeting at 135th st. and Fifth Ave.
at pm. All worker ex-servicemen
are urged to come as well as young
and adult workers not in the last
war.
Dance for the Benefit of the Striking
Miners
Given by the "Novy Mir" Workers
Club will be held at $3.50 p. m. in
the auditorium of the Bronx Cooper
ative, 2700 Bronx Park East. Adj
mission zoe.
The Downtown Unemployed Council
Will hold an open air meeting at
Stanton and Sherief Streets. and an
other at IA Street and University Pl.
at p. m.
SUNDAY
International Workers Club and
Schmallm c In Band Meet
Will be held at 10 a. m. in Eden
valid Take Lexington Avenue train
70 1s0th Street and change for West
chester R.R. Get off at Dyer Ave-,
and follow signs to LID. Picnic
Unit Picnic
The ionic of Unit 25, Section S,
Communist Party, for the Daily
Worker will begin at 10 a. m. at
Pelham Bay Park; meet at foot of
subway station.
Found-Found
A book was found by comrade
at the NIR picnic; title "Race Lead
ership" by Maloney. Owner can get
the same by calling at Daily Worker
Editorial Dept. and ask for Briggs.
ra1 altar n anv dav =
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04

Miners Strike are the pincipal speak
ers at the rally.
The Workers Laboratory Studio is
working full blast arranging an in
teresting program of entertainment.
They will also present play expos
ing the frame-up of nine Negro boys
in Scottsboro, Alabama.
The young pioneers are doing their
bit for the program by arranging a
children's feature.
A graduation Of members of the
Young Pioneers into the Young Com
munist League will take place.
The Convention opening takes
place at the Central Opera House,
East 9th St., near 3rd Ave, 800 p.
m. on Friday, July 10th.
Greet the Convention of the fight
ing youth.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04

A meeting of the special committee
of workers employed on dogskins will
meet Tuesday night to develop the
organization drive in that branch,
The committee will meet on Tues
day right after work at the office
of the union.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04
ILGWU WORKERS
AID MINERS
Strike Spreads In More
Fur Shops

NEW YORK, July 3.-Last night
a committee of mine strikers came
to the membership meeting Of Local
l, International Ladies Garment
Workers Union. The bureaucrats at
tempted to bar the committee from
the hall, but when the workers
learned that the committee of min
ers was outside they demanded the
admission of the committee. The
miners were enthusiastically received
and the meeting voted to donate the
sum of $4,000 to mine relief and
pledged to help the miners in their
struggle for better conditions.
More Fur Shops Strike
A number of additional fur shops,
some of them important association
shops, were declared on strike today
Agreements are being negotiated with
some of the employers on the basis
of July increases, and general i'm
provement of conditions.
Mobilization is now going on for
the extension of the organization
drive the coming Monday. All ac-
tive needle trades workers are called
upon to report to the office of the
union, Monday O'Clock, for duty in
the organization department.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04

The icnic of Unit 25. Section S,
Communist Party, for the Daily
Worker, will begin at 10 a. m. at
Pelham Bay Park; meet at foot of
subway station.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04
International Workers Club and
SchmaIlm eiu-Baud Meet

Will be held at 10 a. m. in Eden
valid. Take Lexington Avenue train
10 1s0th Street and change for West
chester R.R. Get off at Dyer Ave,
and follow signs to LID. Picnic.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04
Hillman, Police Plan Betray
Strike in Clothing Trades
Hilman COllaborates With "Fair" Bosses Who
Cut Wages, Reorganize Shops

starvation level. Tailors are forced
to work for 50 and s. a day, under
a neck-breaking speed-up.
w. P. Goldman's Shop, secretary
treasurer of the Clothing Mfrs. Ex-
change, another one of the fair
shops of Mr.. Hillnan, has just now
carried through a reorganization
throwing so workers out, mostly
family men, increased speed-up, and
wage cut from 10 per cent to as
high as 80 per cent. The workers
IN this shop are. for the last 3 weeks,
getting pay only on account, not
knowing exactly how much their
wages will be cut. Reductions have
been forced on the workers of How
ard Clothing Company, Douglas
Mack Co. and a number of other
big insider manufacturers, who Hill
man claims to be fair.
Fight Betrayal,
Inc HlIlman machine, ana the
bosses, have, under cover of a sup
posed fight against racketeering in
the industry, enlisted the Industrial
Squad and the Police Department, in
reality, solely directed against the
rebellious tailors. The clothing work.
ers are ever more rallying around
the Amalgamated rank and file
Committee, who is carrying on a
tireless struggle against wage cuts,
speed-up, against the bosses, Hill
man and his allies, Walker and Null
rooney. The Amalgamated Rank
and File Committee calls on the
mems clothing workers to make it
impossible for the alliance of boss,
agent and policeman, to carry
through the shameful betrayal now
planned by them.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04
Dance for the Benefit of the Striking
Miners

The Downtown Unemployed Council
Will hold an open air meeting at
Stanton and Sherief Streets. and an
other at IA Street and University Pl.
at s p. m.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04
Vel CONVENTION
OPENS JULY 10th
Browder, Minerich to
Greet Delegates

NEW YORK, July 3. - The his
torical 9Th National Convention of
the Young Communist League will
open on Friday, July 10th, with a
mass rally to welcome the delegates
who will come from every section of
the country.
Earl Browder, of the Communist
Party and Tony Minerich, youth lead
er in the Ohio area of the present
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04

Soviet Forced Labor"-Bedacht
series in pamphlet form at 10 cents
per copy. Read it-Spread it!
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04

GIVE YOUR ANSWER TO HOO
VER'S PROGRAM OF HUNGER,
WAGE CUTS AND PERSECUTION!
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04

NEW YORK.-Enlisting the aid of
Mayor Walker and the police de-
partment, the Hillman bureaucracy
of the A. C. w. has taken another
step in betraying the clothing work.
ers. The market committee of the
Clothing Manufacturers Exchange
declared in statement in the Daily
News Record, trade organ, that they
demand reduction in the wages of
the cutters, individual standard of
production and piece work for the
entire boys and childrens clothing
trade. The bosses also demand a
limitation of one weeks RESPONSE
bility for contractor pay roll de-
faults. The manufacturers state
ment indicated that the A. c. w.
misleaders made concessions to the
bosses of Chicago as well as other
markets, with respect to the cutters
wages and working conditions.
Secret Pay Cut Plan.
The Hillman administration, re-
newing the last agreement in Chi
cago and Rochester, hailed it as an
achievement for the workers because
conditions were supposed to remain
as they are. However, it is now be-
coming clear that leaders have Sc
cretly agreed to reduce the wages of
the workers in these markets, and
from the statement made by Hillman
in the same issue of the Daily News
Record, under the headline, Stop
page would not hit fair Shops" he
assured the manufacturers that any
differences between the union and
the N. Y. Clothing Manufacturers
Exchange would be settled without
recourse to strike. Hillman also
praised Mayor Walker for interview
ing in the present situation.
This exposes the whole scheme of
enlisting the aid of police depart
ment to carry through the program
of the bosses, Of forcing wage cuts,
piece work, and speed-up on the
mems clothing workers. Walker and
Police Commissioner Mulrooney were
drawn into the situation in order to
mobilize the police force to suppress
any attempts on the part of the
mems clothing workers against this
shameful betrayal of the interests of
the clothing workers.
Hillmans fair" shops, which in
elud1, according to him, all the in
side shops, are just as fair to the
workers as the police cossacks who
are brutally smashing every attempt
OF the workers to fight for better
conditions.
"Fair" Shops Vicious.
In each one Of the So-called fair
shops, there has taken place numer-.
Gus wage cuts and congratulations,
throwing out hundreds of workers.
In C. D. Jaffee's shop, the president
of the Clothing Manufacturers Ex-
change, which according to Hillman
is fair to the workers, there is now
being forced upon the workers wage
cuts and reorganization.
Some 6 months ago, 100 workers
were thrown out of this shop. Wages
have been reduced in this shop to
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04

The various trade departments of
the N. T. w. I. U. will meet Monday
to discuss the various problems of
the trades and outline plans of &C
tivity.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-07-04

A book was found by comrade
at the NIR picnic; title Race Lead
ership" by Maloney. Owner can get
the same by calling at Daily Worker
Editorial Dept. and ask for Briggs.
Call after p. m. any day but Sat
urday.