davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14
WAGE CHANGES ARE DECLARED
DUE TO ECONOMIC PRINCIPLE
Head of Bankers Association Denies FL
nancial Interests Are Responsible for
Proposed Salary Reductions.

year some very serious wage cuts. Ac-
cording to q recent tabulation OF dtv1-
dend declarations since the LIST OF the
year, we ind that in the month OF
March alone there were lis reported re-
auctions Of corporate dividends, while
ia were passed. total Of 229 reduc-
tons In the wages Of capital. Taking
the figures for the first quarter for the
last three years, we find these facts:
In 1929 In the first three months OF
the year there were 545 favorable divi-
dend actions, counting initial, resumed,
increased and extra dividends; in the
same period for 1890, 442 such actions;
and In 1881, only. 354. On the other
hand, whereas in 1929 In the first quar-
ter there were only 81 unfavurable ac-
tions, in the form Of reduced and passed
dividends, there were lit such actions
listed for the same period in 1880, and
no less than 531 instances of reduced
and passed dividends for the first quar-
ter Of the present year. So there Is no
doubt that invested capital Is taking
some very heavy wage cuts.
Decline In Profits.
I'VE do not believe that any persons
or class Of persons are to be blamed
for these cuts. We know that economic
conditions brought them about We
know that last year industrial corporate
profits In general declined by IS per
cent as compared with the previous
year, and fell below the level of any
year since 1921. These declines were
very clearly brought about by great re-
auctions in sales, which are always fol-
lowed BY roportionately greater re-
auctions in profits. These are the i'm
personal economic conditions back OF
the wage cuts that capital has taken.
i cite these facts not as an argll-
ment that industrial wages should be
reduced as q general proposition, for
that Is q matter to be decided by each
concern and by each industry in ac-
cordance with the particular set Of cir
cumstances affecting their financial DO
sttions. cite these facts merely to
illustrate how impersonal these eco
nonlic conditions and influences are and
how they AFFECT all phases of our in
uustrial, business and financial life, and
not only our wage-earning workers. The
only point ! wish to make is that IL
Is entirely beside the question to attempt
TO place the blame personally on that
indefinite personality called the banker
in the newspaper headlines.
II any banker as an individual stu
dent OF conditions reaches a conclu-
sion that wage cuts are inevitable. he
Is fully within the rights and proprieties
of his position to say so II he no desires,
the same as any industrialist Is entitled
to the same say-so, or anybody else who
takes the trouble to make himself con-
versant with conditions. But in ex-
pressing this opinion the banker Is
merely interpreting impersonal events
and Is not expressing personal desires
Of himself or his supposed class, and ]
believe we should not hesitate to make
this clear to the country In view Of
the confusion that has been created
In this respect"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14
Buying for Profit
BIZ GEORGE I. HUGHES.


tThis is the third Of q series Of art,-
rent nrinciries 20 present-day conditions
IN business and In seeurttieso
If we admit that the time Is propitious
for investment in common stocks 70 De
held over q term Of years, we sttll have
the dificult problem Of deciding what
particular issues 10 buy. Recovery after
every period Of depression Is certain, but
no one knows when 1t will come. and
that recovery Is never uniform. There
are always some groups that lag behind
and some enterprises that aresso badly
crippled they never come back, or ~
least to their former peak OF prosperity.
There Is no way Of being absolutely
sure as to which class or which spectfic
corporation win prove the most salts
factory medium. Hence the need Tor
Investigation.
Doubtless the safest procedure Is TO
take the leading units In the most es-
eential industries. Here again We are
confronted with the necessity OF deter
mining just what an essential industry
As. The question would be answered
differently today from what 1t would
have been after the depression OF 1893.
the last preceding trade reaction COM
parable to the present one. Looking
backward we can see that then it was
the railroads that had the brightest
prospects. II the choice had been made
In 1921. the best results would have
been reached by taking the utilities.
Perhaps IL Is the industrtals that offer
the best opportunity now. and yet there
IS enough doubt about the matter 70
make for considerable risk. Even among
the industrials there Is so large q va
riety Of activities represented that the
situation IL still further confused. Not
60 long ago It would have been said that
the producers Of raw materials were In
the strongest position over the longer
materials, ana the profits 60 to the
manufacturer Of the finished goods
Therefore Il Is plain that whatever
course Is taken some speculation 70 In
vulyed.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14
STEEL INDUSTRY SHOWS DOUBT
OVER FUTURE AS ACTIVITY DROPS

Ia small profit, while run-of-mine and
slack are being sold at bottom prices.
Building construction improved some
in this zone. Construction of COM
mercial buildings Is held to two sky
scrapers, but home building has In
creased materially during the last two
weeks. Building materials are said to
be moving freer, with prices unchanged.
the Pennsylvania feld, but prices failed
to advance In unison.
The employment situation Is improv-
ing slowly. Road-huilding, erection Of
bridges and heavy campaign Of re-
pair work for the city has aided greatly
IN the labor situation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14
speeIal pispateh 70 The star.

Special Dispatch TO The star
AUGUSTA. Ca. April 14.-Refuting
statements issuing from washington
accusing bankers as q class with being
personally DESTROYS Of general indus
trial wage cuts, Rome O.. Stephenson,
president OF the American Bankers AS
ISOLATION, declared at the opening ses-
sion of its executive council meeting
here today that changes in wage levels,
whether up or down, were entirely at
tributable to impersonal economic
forces. He pointed out that both bank
money and invested capital had already
taken some very serious cuts" in the
forms Of lowered interest rates and re-
duced or omitted dividends, but that
nobody was being accused Of plotting
TO reduce these wages Of money"
FOR reasons that are obscure,
might say illogical, it appears that an
attempt Is being made in some quar-
terS, particularly in the news emanat-
ing from Washington, to lay upon the
banker the Charge Of being guilty Of q
desire to see general wage reductions,
said Mr.. Stephenson. "Of course. bank
ers. as such, have no such desire. If
they did, they could do nothing either
In preventing wage reductions or in
bringing them about. These accuse
tons, II indeed they are being really
made IN any responsible quarter, must
be merely another instance Of finding
some body TO blame for things that are
not popular.
Economic Principles.
"Any one knows who gives the matter
the slightest serious thought that wage
levels are controlled by impersonal
economic principles. They are not sub
ject to the real or supposed personal
wishes Of any individuals or groups Of
individuals. Wages are paid out Of the
earned incomes Of industry. If general
economic conditions 50 affect such in
comes that internal economies are
necessary, certainly no one Is personally
TO blame for that. am not saying that
wage reductions should be made, but II
any industry discovers that conditions
call for an adjustment in costs OF oper-
alton, including wages, 1t would be q
very questionable act Of stewardship In
respect to the responsibilities resting
upon its management II 1t attempted to
keep wages or other costs at any arbi-
trary level at the expense of the capital
funds Of the business.
cit may be pointed out that the wages
Of money have already been markedly
reduced, as can be seen by comparison
of interest rates on bank loans and In
vestments received today as compared
with year and half ago. You may
be sure that no banker reduced these
wages Of money as q matter Of personal
desire nor have I heard Of any banker
blaming somebody else, the working man
for instance, with plotting to reduce
these wages Of money. The impersonal
economic factors that rule the money
markets have taken Care Of that.
Also, the wages Of capital invested
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14

which express q certain amount Of con-
fidence In . rally OF moderate slze. "A
number OF them are recommending
their favorite stocks again after treating
the market In general terms for the
past two weeks. All expect to witness
9 period Of extreme duIlness during the
Spring months. There Is less tax now
than q short time ago Of the decline
ending with selling climax
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14

of his of1cial fam
lily receiving many
hearty ccngratula-
lions. The COM
pany started out
with assets Of $685.
624, which have
since grown 70
47,539,805.
Early in 1881 .
bsnan group OF
men met In the
hardware store OF
Gustave Hartig at
Seventh and x
streets to form Q
building associa-
yion. The aim was
to operate the as
ISOLATION on the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14
SHORT SELLING WAVE
HAS APPARENTLY ENDED
Special Dispatch TO The star.

Special Dispatch TO The Star.
NEW YORK, April l4.-short selling
and such liquidation as has been taking
place in the stock market have both
contracted In volume since Friday. The
professional sales have been checked by
the failure Of the market to react under
artificial weakness and the inability OF
the trading crowd for some time TO dis
lodge long stock.
The different mood Of the street is
indicated In the daily market letters
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14
Salisbury Bond Issue.

BALTIMORE, April II (speeiaD. -
Salisbury, Md. viii offer $4,000 water
ana sewer bonds pearing ~ per cent
baltimore dealers report the market
here for State and nunicipals dull, Que
principally 70 the fact that there y Q
. srarked scarcity Of these securities 81
tho nacEpEuk
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14
COTTON CONSUMPTION.
By the Associated Press.

By the ASsociated Press.
Cotton consumed during March was
reported by the Census Bureau today to
have totaled 200, $50 bales Of lint and
62,77l bales Of hnters, compared with
433,Si0 and 53,08T In February this
year and 507.646 and 64,400 In March
last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14

For throwing q granite block at his
horse, killing 1t. Thomas q. Robinson
OF Birmingham. England, has been sen.
fenced to two months hard labor In
prison.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14
COMPANY OBSERVES
7)TH Anniversary
Permanent Building Associa-
ton Shows Large Gain
in Resources.

The washington Permanent Building
Association. sac r street northwest. is
celebrating its fiftieth anniversary, the
president, e. j. Sacks, and the members
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14

10 costs only about IL cents
per day and 5 cents Sundays 70
have Wnshington's best newspa-
Der delivered - yoH regularly
every evening and Sunday morn
Ing.
Telephone National 5000 ana
the delivery win start immedi.
ately. The Route Agent win coI-
lecf e the end Of each mouth.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14

Electrical equipment manufacturers
report slight increase In orders.
Bituminous coal Is being produced at
rate under that of last year. Demand
remains quiet, The better grades do
inestie fuel however. are being sold at
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14

fThis IL the third Of a series Of arti-
cies diseussing the application Of invest
fT1ert pfinctples TO presenk-day conditions
81 business and IN eeeurtties)
The border vidette., 1931-08-22
STATE OF ARIZONA
ARIZONA CORPORATION
COMMISSION

To All To Whom these Presents shall
Come. Greeting:
/, VIM Ooxon, secretary of the Ari.
zona Corporation Commission, do here.
by certify that the annexed is a true
and complete transcript OF the
ARTICLES OF INCORPORATION
The border vidette., 1931-08-22

County. Arizona. and who is and for
more than three years last past has
been bona6de resident Of the State OF
Arizona, is hereby appointed the agent
of this corporation In compliance with
the provisions OF paragraph 59l OF the
Revised Statutes of Arizona. Code of
1928. upon whom all notices and pro-
cesses may be served. including scr vice
of summons. and when so served. such
service shall be lawful. personal service
upon such corporation.
IN WITNESS WHEREOF, we have
hereunto set our hands and seals this
Goth day OF July, A. D. 1881.
L. G. SKLIRIS
CHRIS KER1ON
JAMES ALEX ANDER
The border vidette., 1931-08-22

MEXICAN GRAPHITE MINES, ING.
which were fled in the Office Of said
Arizona Corporation Commission Of the
23rd day OF July. A. D 1881 at 1000
O'Clock q. 10 as provided by law.
IN WITNESS WHEREOF. l have
hereunto set my hand and affixed the
official seal of the rizona Corporation
Commission at the capitol. in the city
of Phoenix, this 23rd day of July, A :.
D.. 1881.
X, THOMSON,
(SEAL) Acting Secretary
The border vidette., 1931-08-22
STATE OF ARIZONA,
County OF Santa Cruz %

County OF Santa Cruz
The above and foregoing instrument
was acknowledged before me by l.. G.
Sklir;s. Chris Kerson and James Alex
ander, each Of whom stated that they
executed the same for the purposes and
consid sration therein expressed.
Given under my hand aud seal Of
Office this goth day of July, A. D. 1881
(SeaD FRANK J. DUFFY,
Notary Public.
My commission expires Jan. 26th, 1888
The border vidette., 1931-08-22
ENDORSEMENT

ENDORSEMENT
Arizona Corporation Co ommissicn, To.
cooperating Division. Filed July %,
1881 at 1000 a, m at request of Duffy
& Robins whose address is Nogales,
Arizona.
WM COXON. Secretary.
By Pearl SLAWSON.
First pub. Aug. lst. l93i.-6t
The border vidette., 1931-08-22

KNOW ALL MEN BY THESE
PRESENTS: That we. the ndersign.
ed, have this day assoc ated ourselves
together for the purpose Of forming a
corporation under and by virtue Of the
laws of the State OF Arizona. and that
we have adopted and do hereby adopt
the following Articles of Incorpora-
tiOn viz.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-22
''Stop'' Signs Should
Always Be Respected
the Editor Of The Star:

To the Editor OF The Star:
Unless prompt and vigorous action
is taken by the traffic police to see that
the law is enforced, the stop" signs at
certain street intersections had better
be junked, along with the other SUI
perf1ucus do and don't" signs that
the traffic director plans to soon elm
mate.
It is the opinion of the writer that
these stop" signs have become a def
conscientiouSly obeyed. They certainly
do not invite or justify carelessness on
the part Of the motorist traversing the
arterial street. However, they do justi-
~ him in assuming an equal amount
OF care on the part of the motorist on
the non-arterial street. If that care Is
not exercised, 1t takes the arterial street
notorist of his guard and a greater
element of danger is created than If
the stop" sign had not been in place
1t is silly, mere twaddle, to think that
stop" signs cannot be obeyed in Wash
ington. when all over the country the
thing is done as safety measure. Like
ly, the overwhelming sentiment of driv-
ers favorS this precautionary measure,
but If some hard-headed selfish. devil
may-care creature chooses to ignore the
law, then the careful, law-abiding driv-
er is imperiled. And. strange as it may
seem, the utter disregard for these
safety devices is not alone among per-
sens of low degree, but by motorists
of culture and refinement as well. The
police need not detect every violator to
bring about obedience to the law. A
good, stiff campaign at unexpected
times and places, with appropriate
newspaper publicity of the results, will
make all motorists more attentive to
this admirable device for the lessening
of motor accidents, which is certainly
not placed where it is for other than
protection of all who drive motor cars.
J. ED. SNYDER.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-22
Surrender Scene a
Yorktown Essential

To the Editor of The Star:
Please let me compliment you on the
editorial captioned CORVALLIS" which
appeared in The Star July Is. 1t was
fine. There is no good reason why any
of the incidents in the surrender Of
CORVALLIS to Washington at Yorktown
should be eliminated to please any one.
The American people are bound to re-
sent any emasculation of the thrilling
drama at Yorktown, where the brave
and sublime struggle of Washington and
his immortal associates was crowned
with glorious success. Not one feature
should be underplayed, no matter
whose sensibilities are thereby offended.
I recall reading in British paper
once how the editor of the paper in
sisted that the recital OF British mill
tary victories should never be bel1ttled
or apologized for and not a word should
ever be written to please those who had
been the losers in any war conducted
in behalf of the defense or glory OF
that empire.
Let the Yorktown pageant be enacted
so as to revive and stimulate and per-
petuate the love and reverence OF the
American people for the marvellous man
who fought, suffered and won that
America might forever be free from
all European domination.
surely feel grateful to you for print
ing this editorial at this time and thor
oughly enjoy reading your splendid paper
at all times. G. II. HARRIS.
Chicago, Ill.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-22
One Who Thinks That
Washington Is Hot

&c the Editor OF The Star:
Your editorial in Wednesdays Star
about Washington weather brings to
mind the simple fact that so far as
the business or travelling public is con-
cerned, Washington temperature is
street temperature-kioSkt temperature
and theoretical reading on some high
building has no more relation to actual
conditions than the wetness of water
has to its purity for drinking purposes.
Not SO long ago, several blocks of
beautiful shade trees were destroyed
in midcity, to make possible slightly
wider streets for automobile parking
purposes. Even If Gin some cases.
others were replanted, it will be many
year before their growth renders them
Of value for shade.
Humidity records at the kiosk over
an extended period show Washington
atmosphere high in humidity much Of
the time; comparable only to such
cities as Houston, Tex, or Shreve-
port, La.
This condition, with our wide streets
and lack Of shade in many cases for
several blocks during midday, does
make Washington an unpleasant ex-
ceptionally oppressive city in which to
live or transact business, wholly aside
from your facetious reference to sight
seers running around town" Nor is it
blessed with a Gulf breeze" at even
time, while its wide streets act as fire.
less cookers and still further make
miserable the restless nights Of its
workers.
Add to this, the ceaseless din OF
myriad radios on multiple programs,
kept running at full power until late
hours, the cries of men selling Snow
balls" far later than permitted by law,
and then, as the tired body falls into
exhausted sleep, to be awakened by
raucous church bells at $50 am, 1t
is no wonder we are becoming a race
of nervous people.
HENRY MACE PAYNE
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-22
ANSWERS TO QUESTIONS
BY FREDERIC ]. HASKIN.
countries numbered 2,750,578, per
cent increase over the previous year.

countries numbered 2,750,578, per
cent increase over the previous year.
@. What Is the origin Of the express
sion, born with silver spoon in his
mouth?-A. L. S.
A. 1t means born to good luck. The
allusion is to the custom of giving silver
spoons at christenings or as prizes. The
expression has taken on the further
meaning of being born to wealth.
@. What part of New York City has
the largest Jewish population?-L. l..
A. The population of Jews in New
official estimate in 1927. This was dis
tributed by boroughs as follows: Brook
Ign, 797,00O; Manhattan, 465,000;
Bronx, 100000; Queens, 75,80o, and
Richmond, 1900.
@. What name is given to the oozes
which lie at the bottom OF the sea ana
which contain the remains OF sea
denizens?-R. D. M.
A. There is no generally adopted
scientific name for the various ooz:s
that are formed mainly from the cal
careous and siliceous remains OF plants
and animals which live in waters under
which. the deposit is found. Various
oozes are recognized, the most wide
post consists of the shells of Foramini-
fera, which live in the surface waters.
Diatom ooZe Is next in abundance. 1t
is formed from the siliceous remains OF
diatoms, which occur in enormous
quantities in cold surface waters. OF
the sea bottom beyond the 10O-fathom
line it is estimated that II per cent
is covered by mud, 40 per cent by red
clay, and AZ per cent by oozes Of the
various kinds.
@. Can a person drive by motor to
South America Pm. A. c.
A. At the present time a motor trip
to South America is not feasible. Plans
for a highway to link the Americas are
being formed. II is possible now to
motor as far south as Monterey, Mexico,
over good roads, and even to Mexico
CITY if the traveller is willing to use
unimproyed roads. Coming north.
motor GER recently proceeded flo:n
Buenos Aires. Argentina. TO Lima. Peru.
but with extreme difficulty. At various
stages of the trip the drivers expert
enced many hardships. owing to lack
of roads in certain sections.
@. Is it the practice to transfer mail
on the high seas from eastbound YES
sells to westbound?-A. r. E.
A. The Post ONCE Department says
that 1t IS not.
@. What is the grade on the Co!um-
bia River Highway?-C. T.
A. This scenic highway from Port
land. Ore to Hood River has no grade
which exceeds per cent.
@. Are lotteries and sweepstakes
legal in Canada IN. r.
A 1t is contrary to the criminal code
of Canada for any one to conduct
lottery or sweepstake of any kind in the
Dominion. Persons found guilty are
liable to heavy fine or term Of i'm
prisonment or both.
@. Was the woodwork painted or
stained in the early New England
homeS?-D. A.
A. Pine boarded walls and ceilings
were generally used in the early New
England homes. In most cases the
woodwork had no finish at all. Some
times they were rubbed with oil or wax,
but the wood was in its natural color.
Paint or stain was not used until much
later, say 1740.
@. Who said What this country
needs is good scent cigar?-J. A. w.
A. 1t is attributed to Vice President
Marshall.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-22

tween Marking and Washington had
failed of effect, this Government declin-
ing to abandon the principle of extra
territoriality in. the present condition
of the Chinese judicial system, but
agreeing to consider measures of
gradual abolition of "extrality." Never
theless the Marking judicial yuan" or
department, has proceeded to set up, on
paper, an elaborate system of courts
for the trial Of international cases,
with prisons for the accommodation of
persons accused of offenses against the
Chinese laws, all Of this to be effective
next January, when the decree of the
Spring itself becomes effective accord
ing to the terms of the edict.
Even granting that the Marking
decree abolishing extraordinarily
should be regarded as of some measure
of validity, the Tucker case would not
by any stretch of imagination fall I'M
der 1t. DR.. Tucker, who seems to have
shot a native for burglary at the
hospital, should, under the decree of
abolition, be subject to consular court
action up to January next, in any
circumstances. The thought of his
being held as hostage for the formal
abandonment of extraordinarily by
the United States is abhorrent. Yet
that may be the motive of the present
move to hold him for Chinese trial.
If the circumstances are as reported,
the United States should make the
most forceful possible demand for the
release of this worthy man. 1t can
not palter with such an outrageous
violation of American rights.