davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-07-11
COTTON CABLES
ARE LOWER

NEW YORK, July II GN.SO
The New York Cotton Market
was slightly lower during the
early trading today on lower
than expected Liverpool cables
and a reactionary market. There
were private wires of showers in
the Eastern Cotton Belt, particu-
larly the Carolinas, while tenn
peratures were warmer in the
Western portion.
Selling came from the South,
wire houses and Liverpool. New
Orleans bought as did trade
houses.
At midday, october sold at
9.46, off 7; December at $50, off
8; March at 9.79, off 8; May at
1915, off 9.
Spinners' takings, according to
Colonel Hester, for the week we're
$4,000 bales against 100000 in
the same week last year. The
New York figures we're no less
than 10000 against 10000 last
week, and 10000 last year. The
visible supply of American cot
ton fell off the substantial
amount of 167. 900 bales against
$4,000 last week and 121, 900 last
year.
The Washington times., 1931-07-11
Williams Claims Traders
Back Cotton Holding

stocks were a burden on the
market and should be disposed
of. They came around a few
weeks ago and pleaded for us
to hold those stocks off the
market"
Mr.. Williams said the board has
nothing to do with cotton co-opera,
tives, which are holding off their
cotton, and is specifically under
agreement with the cotton CO
operatives to give them a total
period of three years to work out
the sale of their deliveries by their
members of the 1880 crop. That
agreement has two more years to
run. He commented:
"Within that period they
doubtless will work out their
own policies. Our control exists
only over stabiliZatiOn stocks"
Williams said there was a
natural conflict of interest be-
tween private distributors of farm
crops and the co-operatives. owned
and controlled by farmers, which
does the same job.
The Washington times., 1931-07-11
CHICAGO LIVESTOCK

CHICAGO, July II GN.SO
Hogs-Receipts, 5000; market
5.10c lower; top, $3.50; bulk, $50
7.5O; heavyweight. $5,80@7.30;
medium weight, $7.15@7.60; light
weight, $7.30@760; light lights
$7.15@750; packing sows, $4.50@
$40; pigs, $6.5O@7.25. Holdovers'
5000.
Cattle-Receipts, 500; market
steady. Calves: Receipts, 100;
market steady. Beef steers: Good
and choice, $7.50@8.25; common
and medium, $5@7; yearlings, IS
@8.75. Butcher cattle: Heifers,
$4.50@8.25; COWS, $3.50@5.50;
bulls, $3.5006; calves. $7@ 10;
feeder steers, $4.50@6.75; Stockel
steers, $4.5O@7; stocker COWS and
heifers, $3.50@6.
sheep-Receipts, 500; market
steady. Medium and choice
lambs, $7.25@8; culls and com
mon, $407.50; yearlings, $500
$50; common and choice ewes
$1@3.5O; feeder lambs, $505.5O.
The Washington times., 1931-07-11
GENERAL SAC ON
CURB MART

NEW YORK, July ii GN.SD .
The curb market display a per-
sistently sagging tone throughout
the course of today's abbreviated
weekend session. and with but
few exceptions are list as whole
finished the day at moderately
lower price levels.
Electric Bond and Share was
singled out for heavy selling pres
sure in generally lower utility
group. dropping 19s points to
40A. American and Foreign
Power warrants, reflecting the
weakness Of this issue on the big
board, dipped to 177s for a loss
Of Ia points, and losses of some
what less than a point we're the
rule in Associated Gas and Elec-
trio A. Brazil Traction, Electric
Power and Light warrants, United
Gas and United Gas and Power.
Vacuum was a soft spot in the
oils, declining 11s points to AZ.
Humble was q feature of strength
in the early trading, with q smart
upturn of 214 points.
A large number of air pockets
were uncovered in the speciality
section. Great Atlantic ana Pa.
cific Stores was off 512 at 1882:
A. o. Smith. off 5 at 1875; Alumi.
mum, off 2l2 at 1870; Deere, off
IA at 2524, and United Verde
Mining, off 2 at 915.
The Washington times., 1931-07-11
HERSHEY EARNS
RECORD PROFIT

Hershey Chocolate Corporation
net income for the first six
months will exceed IS a share
on the 706,520 shares Of no par
common stock outstanding. This
will compare with $4,253,714,
after charges. in the correspond
ing period of 1880, when $4.36
a share was earned on common
stock, and establish a new high
record for the present company.
Obtaining the benefit Of low
cost raw materials this year
sugar and cocoa beanS-Her-
shey's margin Of operating profit
on finished goods has been run
ming at record levels. In the
first quarter . amounted to 33c
per dollar of sales against 21c
for all of 1880.
In the first three months OF
this year the company netted
$2,67O,730, after charges, an in
crease of IS per cent over the
$2.320,2l8 reported for the SINH
lar period in 1890.
Sales in the first quarter Of
this year, amounting to $9,682,-
331, were about Is per cent less
than in the initial three months
of 1890, in reflection principally
of lower prices rather than any
diminution in physical volume.
The Washington times., 1931-07-11

Private cotton traders during
the past have consistently taken
the attitude the Cotton Stabiliza.
tion Corporations holdings are a
burden on the market, according
to Carl Williams, cotton member
of the Farm Board. He said:
"The private trade Is of the
opinion that these holdings
have been responsible for a
large part of the decline in
profit and for a lack of conf
dence which they alleged exists
in the cotton trade concerning
the future of their business and
the future of American cotton"
Mr.. Williams asserted the pri-
vate trade had not, as yet, re-
versed itself, as did the grain
trade, by saying that all the cot
ton should be taken off the
market and held for an indefinite
period. He added:
"The grain trade explicitly
and specifically reversed itself
after yelling their heads off for
year that wheat stabilizatiOn
The Washington times., 1931-07-11
A. AND P. SALES
TONNAGE Up

The Great Atlantic and Pacific
Tea Co. reports June tonnage
sales rose to 454,268 tons from
S92, ,099 tons in June, 1880, an
increase Of 1873 per cent.
Dollar sales for the month
totaled $50, $50, 700, against $82,'
921,191 in June, 1880, decrease
of 21a per cent.
Average weekly sales in June
were $2O,212,675. against $20,730.,
298 in June, 1880. a decrease OF
$517,623. Average weekly ton
mage sales were 113,567, against
99,025 tons in June, 1880. an in
crease Of G5,542 tons.
The Washington times., 1931-07-11
BOND MART UNSTEADY

NEW YORK, July II G.N.sJ.
German International 512 per
cents swung down the price
scale in the listed market today,
losing all of the 3-point rally
which occurred near the close Of
Fridays market.
Slight recoveries were made in
the Chile government group, but
trading in government bonds was
narrowly restricted. Uni d
States Government bonds were
unusually dull and quiet, with
Fourth Liberty 414S at 104.28;
Treasury 33ss, at 102.3O, and
Treasury, new, 31ss at 10l.l5
Chile Government IS of 81
moved ahead more than a point
to So. German international 512s
sold at 691a, against Fridays
close at 1875. Cuban Govern
ment Is rallied a point to 6S1a
United Steel Works, Germany
advanced 11a to 64h.
The Washington times., 1931-07-11
EXPLAIN
WHY THEY ARE '
SELLING
Moratorium No Panacea, Is
Claim, and Other Factors
In Depression Are Listed
BY THE SPECTATOR

NEW YORK, July 11.-Just as
there are arguments put forward
by bullish interests to substanti-
ate their belief that the market
is headed higher, so are there
reasons advanced in bearlsh quar-
ters to explain their selling atti-
tude.
One of the explanations of the
bear faction is particularly inter.
esting. This points out that
while the moratorium is highly
important as a constructive de-
veIopment over the longer term,
the European debt is not the sole
cause for the depression.
Many Important Factors
The solving of this question Is
not going to put business imme-
diately on it's feet, it is said,
while the enormous supplies Of
copper, oil, wheat and other raw
materials that are on hand are
not going to be consumed over
night.
In addition bad earnings are
not going to turn Immediately
into good earnings. Neither are
the old dividend rates on the
cards. to be restored within the
near future.
One point seemingly overlooked
by the adherents to the foregoing
outline, is that there are quite
a number of stocks which have
already taken recognition of such
unfavOrable data, arOun current
price levels.
Auto Output Uneven
The estimate of the National
Automobile Chamber of Com.
merce on motor car production
for June emphasizes the uneven
distribution of the business this
year.
The usual seasonal decline in
output from May to June is placed
around IA per cent. Total esti'
mated production for the entire
industry during June fell 22.3 per
cent below that for the preceding
month, and 27.5 per cent under
the output for June of last year.
On the other hand, June pro-
ducti0n of General Motors was
only IS per cent under that for
the preceding month, while
actually S per cent greater than
in June of a year ago.
The Washington times., 1931-07-11
NEW PRICE CUTS
HIT COPPERS
AND OILS
Professionals Generally on
Bear Side, As SteeIs Lead
Recession of InduStriaIS
BY W. s. COUSINS

NEW YORK, July II GN.SO.
There was little indication Of i'm
provement on the stock market to-
day. The leading stocks were car
ried steadily downward by sell
ing wave which was encouraged
by the continued unSettlement in
the foreign markets, particularly
the complications in Germany's
credit program.
Price. Cutting Worries
Further price-cutting in gaso-
line, crude oil and copper did not
help the situation from the bullish
standpoint, and the professionals
were generally on the bear side of
the market. Foreign bonds and
American commodities we're also
inclined to the lower levels.
United States Steel dropped off
~ to 9612 at the close of the
session and Bethlehem lost nearly
2 points at 46. American Can
closed 112 points lower at 1861,
American Smelling was down
~ at 80; General Motors down
70 at 81: American Tel. and Tel.
down ia at 177A; General Elec-
trio down 15s at 4112; Worthing-
ton pump down 13s at 50A; Ana
conda Copper down 81 at Is.
Transactions on the big board
totalled only 100000 shares,
against 100000 shares on the
final Saturday of June. Last
Saturday the markets were closed
on observation of independence
Day.
Bond Trade Restricted
Wheat, cotton and textile were
fairly steady as the short session
advanced. Wheat rose fraction.
ally and cotton fell of a few
points.
Trading in the bond market
was restricted to a few Of the
best grade corporation issues, but
German new 52s dropped
sharply, losing all of yesterdays
S-point closing squirt. Money was
in good supply in all markets.
The Washington times., 1931-07-11
C[|CQUOT CLUB
ADS PAY Bic

NEW YORK, July 1.-THE
Clicquot Club Company is spend
ing approximately 20 per cent
more money for advertising during
1881 than in 1880. H. Earle Kim
ball, president of that concern,
told the Advertising Federation OF
America.
with annual expenditures
averaging well over a million
dollars a year for the past six
years, our appropriation is be.
ing increased in 1881, and will
be further increased in 1892"
Mr.. Kimball said that the'
Clicquot Club Company would
continue to spend the bulk of its
appropriation in daily newspapers.
general magazines and radio
broadcaStS.
The Washington times., 1931-07-11
METAL MARKET

NEW YORK, July II GIN ST.
Buying continued quiet on both
foreign and domestic account to.
day. Some custom smelters were
quoting 8 cents a pound delivered
and all producers were out Of the
market. Electrolytic for foreign
shipment was reduced to 3.275
cents pound, C. 1. f. Hamburg,
Havre and London.
Zinc buying was quiet. With the
price at 3.85 to $50 cents a pound
East st. Louis for prime western
zinc.
Lead buying was small. with the
price unchanged at 4.40 cents a
pound New York. and 4.2212 cents
a pound st. Louis.
The Washington times., 1931-07-11
MONEY RATES LOWER

NEW YORK, July II IN.S0
Call money was held over at
11a per cent today and 2 per cent
on the curb.
Bankers acceptance asking
rates were "a per cent lower with
80 to 80 days at "a per cent, l2O
days at 70 per cent, and $50 and
18O days at 11s per cent.
The time money market was
unchanged with so to 100 days at
~ to 11a per cent, $50 days at
1h per cent, and 180 days at
IA to 2 per cent. >.
Commercial paper was qulet
with prime names unchanged at
IA per cent.
The Washington times., 1931-07-11
Claude Woodward
At Resort in Maine

President Claude H. woodward
of the Mount Vernon Savings
Bank, is now spending his sum-,
mer vacation at Old Orchard Me.
Assistant Cashier L. L. Hoyle
Of the international Exchange
Bank Is at Atlantic City on vaca'
tinr1.
The Washington times., 1931-07-11
COTTON GOODS QUIET

NEW YORK, July II U.N.S).
More resistance to the bearish at
titude toward the cloth markets
developed in first hand quarters
today. Mills were unwilling to
consider many of the propositions
put to them, and while here and
there weaknesses we're said to ex'
ist, the opportunities to shade
prices were fewer than on yester.
day..
The Washington times., 1931-07-11
Southern RGiLWay
ShOWs Gross Loss

According to its report for
June, gross revenue of the South
ern Railway system for the
month amounted to $10,794.266,
against $12,008,579 in June. 1880.
Revenues for the six months
ended June 80, 1881, totaled $685.
1893, ,O63, compared with $71,636,-
910 in the first half of last year.
The Washington times., 1931-07-11
TODAY'S MOST
ACTIVE STOCKS

NEW YORK. July II Q.N.s.).-The
following are the high, low and closing
prices of the 10 most active stocks on
daY:
The Washington times., 1931-07-11

Canada
New York funds in Montreal. 12.SGS
premium a. $1,000.
Montreal funds in New York. S2.il&
discount at $1,000,
The Washington times., 1931-07-11

Dividend symbols extra; b. dividend in stock 5h p
stock; d, scrip; "ex-dividend; tex-rightL
low carried to previous close.
Dividend in dollars in parentheses.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-25
CORN PRICES DROP
AS SELLING GAINS
New Low-Price Record Made on
Increase in Shipments.
Wheat Irregular.
BY the Associated Press.

CHICAGO. January 24.-All deliv-
cries bath of corn and rye outdid to-
day the seasons low-price record. At
the bottommoSt level May corn was
73s cents bushel under last weeks
top. Expectance of increased ar
rivals of corn in the near future acted
as persistent weight on values.
Corn went to the lowest price level
reached on the present movement be-
fore resting orders to buy were met
with and declines were checked. Chi
cago arrivals of corn were 122 cars,
compared with lib week ago and 247
at this time last year. Indiana advices
said offerings to arrive were increas-
ing, that there were good sized stocks
on farms and that the open Winter had
curtailed feeding demand.
Primary arrivals of corn totaled $685.
coo bushels, against 799, 900 a week ago
and $4,000 on the corresponding day
of 1880. Bears reported keen competi-
ton from substitutes for corn, together
with cheap offerings of Argentine corn
in Eastern markets, making shipping
ca, here slow. Minneapolis messages
said country selling overnight had
somewhat increased. Oats followed
corn, although oats receipts in Chicago
were less than half of the quantity
a year back.
Corn closed nervous, u to IA cent
lower than yesterdays finish wheat ir-
regular, 20 off to Il up; oats, 70 to
% down, and provisions at to Is cents
Hoa1ino
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-25
RAILROAD PRESIDENT
SEES BUSINESS GAINS
Norfolk & Western Head Says
( Road Spent $21, 100000 in
Betterments During 1880.
By the Associated Press.

~ tLe ASsOCldteu FIeSS.
NORFOLK, Va, January ga. c.
Needles, president of the Norfolk g.
Western Railway, said today that while
he did not anticipate any marked in
crease in the business Of his railroad in
the near future, he looked for a gradual
improvement within the next year.
Judging from the traffic moved into
and out of the Norfolk area by the Nor
folk g. Western the indications are that
the port of Hampton Roads is holding
its own as one Of the greatest ports in
the world in year of business depreS-
Sion," Mr.. Needles said.
The Norfolk g. Western has spent
almost $1,000, 900 for general expansion
of its Tidewater facilities during the
past five years. Within the past year
and a half the railroad has authorized
the expenditure Of more than 81 ,000, 900
for additions and improvements to its
port facilities.
I'VE know" continued Mr.. Needles,
that the economic structure in our
territory rests on solid foundations, and
that business along the railway has held
up better than in many other sections
Of the country. In keeping with this
knowledge, the railroad has not only
not curtailed expansion, but has car
ried on an extensive program OF i'm
provementS. expanding approximately
SCI 900 900 for new equipment, addi-
tons and betterments to its property
during 1880. This policy has aided ma
terially In relieving unemployment and
stabilizing business In our own and other
territory"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-25

American prosperity, with sales in
creasing, annual statements showing
good profits and the standards of liv-
ing improving. Let's hope that we shall
have sense enough then not to run our
good times into another spree.
New York City, it SEEMS to me, has
been overpessimistic since the market
crash and has been somewhat RESPONSE
BILE for a bad mental state of mind
among business men in many sections
of the United States. But, after all,
business hasn't been so bad in the
metropolitan area, certainly not bad
enough to warrant New York business
men in being overpessimistic. While
some lines have shown a decided drop,
business in the aggreg ate will show a
fair comparison with figures for the
average year before the boom times of
1929.
Take for instance the business of
selling electricity in New York City.
While 1t Is net as good as it has been,
1t distinctly is not bad. The electric
output of the five companies in the
New York Edison system for 1880 was
6.5 per cent ahead of 1929. We calculate
on an increase of about twice that in a
good year.
Equipment Sales Gain.
hOISOFcI, GIle sale OF eleCLTlClCy-uSlng
equipment by our companies showed a
big gain last year. There was an in
crease in this phase Of our business in
1880 of 40 per cent over 1929, and that
doesn't count more than $4,000, 900
worth of electric refrigerators sold by
our companies in cooperation with the
manufacturers of four leading Inns. All
this equipment will be using electric
current this year and the years to come.
increasing our output steadily.
Electricity enters so vitality into all
the affairs Of life today, both home and
business, that its use has come. to
be accepted as fair measure of BUSH
ness conditions. So, according to that
test, our figures go to show that bust
ness in the metropolis Is bad only by
comparison with especially good times.
And this, it seems to me, applies with
equal force to other sections Of the
country.
Statistics show that the electric utili-
ties of the country did a business of
So. 200,0 100000 in 1880, or per cent
above that for 1929, although rates for
residential service decreased on the
average per cent. How business looks
to business man depends after all
entirely on where he sits. From where
l sit must say that 1t does not look
bad to me
copyright, 1881. by North American News
paper AllianceO
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-25
BONDS IN FAVOR
ON LOCAL EXCHANGE
American Security & Trust Stock
Also Attracts Attention in
Saturday Market.

Washington Railway g. Electric As
and Georgetown Gas SIS were especially
popular on the Washington Stock Ex-
change yesterday. The volume OF trad
ing in the stock division was led by
the American Security g. Trust Co.
Sales were:
washington Gas IS "A'-$2O0 at 1o2.
Washington Gas IS "B"-$100 at log.
at 81, $4,000 at 871a, $4,000 at 871s,
$1,000 at 87k, $1,000 at STU.
American Security e. Trust Coo al
346, at 346, 10 at 345, 10 at 345.
Lanston Monotype-10 at los, at los.
Mergenthaler Linotype-5 at SO. =.
Real Estate Mtge. g. Inv. pfd.-l2
a. 81.
Ter. Ref. g. Whrs. Corp.-1O at As, 10
washington Rwy. g. Elec. 4s-$2.OOO at
87I5.
Georgetown Gas 5s-$7 500 at 104%.
National Press Club 512s-$1,0OO at 81.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-25
IN COTTON
FOLLOWS ADVANCES
Recent Buying Movement Believed
Factor in Weakening
the Market.
BY the Associated Press.


NEW YORK, January 24.-Recent
advances were followed by reactions
in cotton today under week end real
izing and Southern selling, which was
attributed partly to hedging in the
March and May positions. Unfavorable
labor reports from Lancashire and rela-
lively easy Liverpool cables NAV have
contributed to the decline, while the
market showed signs of an easier
technical position after the recent buy
ing. May contracts eased off to 1856,
or Is points net lower, and the market
closed barely steady at net declines of
IA to Is points.
The opening was steady to points
lower in response to the relatively easy
Liverpool cables. There was some
further covering and trade buying, but
the demand was quite readily supplied
and prices worked gradually lower dur
ing the morning. The demand was
less active, as If buyers had been
pretty well supplied on the advances
earlier in the week and comparatively
light offerings were sufficient to send
prices off to 1898 for March and 1918
for July, while the new October de-
clined to 1899. Closing quotations were
at the lowest of the day.
Liverpool cables attributed the de-
cline there to local and foreign liquida-
ton. A sustained demand for cotton
cloth was reported in Manchester
for the British home trade and India,
but the Shanghai auctions were said
to be disappointing. Egyptian cotton
in the Alexandria futures market was
IA to 81 points lower and may have
been one of the factors in the Liver
pool decline.
The selling here, however, aside from
a little more Southern hedging, was
attributed chiefly to realizing The
amount of cotton on shipboard await
ing clearance at the end of the week
was estimated at $4,000 bales, against
mn Iasf uaor
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-25

they are taking. The big steamer was
chartered for three months.
Robert C. Jones, president Of Robert
G. Jones 81 Co., investment firm, an
nounces the removal Of his .offices to
the Shoreilam Building. Mr.. Jones is
much pleased that his recently organ
lied business warrants this expansion
He is well known in the local financial
district, having been connected with
O. M p. Murphy g. Co., stock brokers,
for several years.
One Of the most interesting reports
expected at the meeting Of the District
Bankers Association tomorrow evening
at the Willard will relate to the Christ
mas savings club drive for 1881 mem
bership. which ended ouA. January Is.
It Is already known that here was an
increase both In the amou Il subscribed
and the number Of members, but the
exact figures viii prove intensely In.
teresting. ,s4sess 4
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-25
HELD IN FIVE DEATHS
Filling Station Proprietor Awaits
Probe of Anti-Freeze Drinking.

ASHLAND, KY, January "a Pl.-
Marion c. Collins, AZ, gasoline station
proprietor. was held yesterday pending
investigation into the deaths of five men
who drank anti-freeze solution. Will
liam Bates. IT, station attendant, was
released after an inquest
Two men who said they drank a lit
tie of the solution but not neough to
make them i'll, testified at the inquest.
M. L. Queen, Lexington, made an affi-
davit that one of the victims had a
pint bottled filled three times at Col
Inns service station. r. Z. BoggS, Boyd
County, said he and Queen advised the
men not TO drink the liquid after they
tasted tt.