davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-11-09
Investment Banker Chief
Asks Initiation Check

WHITE SULPHUR SPRINGS,
w. Va, Nov. 9 0N.SO.-A plan
for minimizing future economic
depresSionS was advocated today
by Henry T. FerriSs, president, at
the Investment Bankers ASSocia-
tion's annual convention, in which
Y. Z. Booker represents Wash
ington, D. c.
FerriSs suggested turning off
the golden Spigot of credit for
sudden upshooting of prices in
stocks and bonds in order to de-
tract from the evils of initiation.
Decline In Buying Power
The decline in purchasing
power he called the outstanding
factor in the present business de-
cline fastened largely to the over
extension Of credit when prices
were high"
"Tt may follow then that we,
the investment bankers, as well
as the commercial bankers, and
other credit agencies, have 1t
within our power to minimize
the ultimate evils Of periods Of
initiation by diScOuFaging the
granting Of credit based on val-
ueS resulting from rapid price
increases"
"If the loan value of stocks
and bonds could be determined,
not by their price at the mo
ment, but by their average price
level, over some reasonable pc
riOd, sudden and rapid increases
in debts secured by such col
lateral could be largely elimi-
mated.
Ease Mortgage Debts
'Tf the value Of fixed assets
securing long time. mortgage
debt could be determined not
The Washington times., 1931-11-09
CHICAGO LIVESTOCK

CHICAGO, Nov. 9 UNSO,
Hogs-Receipts, $1,000 head: 1Oc
higher; top, $3.50: bulk, $4.7O0
$50; heavy, $4.85@5.30; medium,
$4.S0@5.30; light, $4.7O@5.1O:
light lights, $4.50@4.85; packing
sows. $4.40@4.85; pigs, 1880
ATS; holdovers. 1000 head.
Cattle-Receipts, 1900 head:
steady. Calves, 5000; steady.
Beef steers. good and choice,
$9.50@12; common and medium,
$5@9.50; yearlings, $9@11.5O;
butcher cattle, heifers, $500
10; cows, $3@5.50: bulls. $50
5.25; calves, $6@S.5O; feeder
steers, $4@7; stocker steers, $3.50
6.75; Stocker COW and heifers,
$3@4.50.
Sheep-Receipts, $4,000 head:
Csc lower. Lambs, $S.5O@6.25:
common, $3.50@4.5O; yearlings,
$4@5; feeders. $4.50@5; ewes.
$1@2.5O.
The Washington times., 1931-11-09
SAVINGS
S36,579,189

More than $36,575, ,1S9 in Christ
mas Club deposits will be paid
out by mutual savings banks
about December i, the National
Association of Savings Banks has
announced.
This record sum represents the
savings of 7S3, ,903 persons during
the year and is 100000 more
than last year with a number Of
banks yet to report. DepoSitors
have increased by 42,0O8.
New York, with only IL banks
reporting. had 2S0,S44 depositors
and funds totaling $14,596, OTIS, an
increase Of 1915 deposits and
$733,976. There are 2O1,205 de.
positors in New York city having
deposits Of $9,912,948.
The Washington times., 1931-11-09

by new appraisaIs or temporary
high costs, but by the average
valuation or cost of similar as
sets over q period Of years, then
the burden on the owner would
not prove 50 disastrous during
the next period of deflatiOn.
Likewise, in granting munich
pal credit, II assessed valuation
and taxpaying abiIisy were
measured in terms Of average
years and actual past expert.
ence, the periodical temptation
to municipal extravaganCe would
be substantially checked"
Confidence in Bonds
In calling for the restoration
Of confidence and increasing th'
volume Of employment through
out the nation, Ferriss declared
first objective should be to builC
UP purchasing power.
Mr.. FerriSS pointed out the Sus
tained strength Of the Federal
municipal and certain high grad
railroad, public utility and indus
trial bonds.
Confidence in the foreign bonC
market was recommended, de
spite the present demoriliZatior
in that field, in the report of tn
foreign securities committee sub
mitted to the convention.
The Washington times., 1931-11-09
HANEY STUDIES
IMITATION
SIGNS
Economist Sees Speculation
Cause of Grain Rise and
Asks Sound Revival
By LEWIS HANEY
Director New York University Bureau
Of Business Research

By LEWIS HANEY
Director New York University Bureau
Of Business Research
Does the recent run-up in the
prices of grain and a few other
commodities mark the beginning
of initiation?
It may be the entering wedge,
but it does not necessarily mean
initiation. do not think that
the advance in prices has been
broad or general enough to indi-
cate the purchasing power of the
dollar has materially changed.
Speculation Rife
The outstanding case has been
wheat. Here the rise started from
an oversold condition and a de.
cline in production.
It has developed into a sharp
speculative spirit, with war in the
Oricnt as a factor. Apparently
it would have come with or with.
out any credit initiation in this
country.
The rise in oil prices is pri-
marily due to military operations
in Texas and Oklahoma. Penn.
Syl"ania grade oils have been re.
duced in price.
The rise in silver appears to be
purely speculative, there being no
appreciable change in demand
or supply. Talk of bimetalism is
merely talk and is not seriously
considered by disinterested per-
SoHs.
Many Declines
To the extent that there are
isolated cases, we can hardly say
thai price initiation has begun.
We find a good many impor.
tant commodities actually declin.
ing. Most metals are lower than
week or two ago.
Hogs, lard. butter and cotton.
seed oil are lower and have shown
no price strength. Most corn is
fed to livestock. The failure thus
far of hogs and pork to reflect
higher corn prices is interesting.
Escape Still Possible
All in all, it still seems some.
what uncertain whether the in
flationists are going to win. This
new speculative mania in wheat
is a good background for infla.
ton.
The Government leans toward
large advances Of credit to farm.
erS, railways, real estate opera.
tors, etc. and that would almost
certainly mean initiation.
We can still hope, however,
that business may be allowed to
get well in a sound way.
The Washington times., 1931-11-09
Stock Sold at Lou ,
Inue8tOr Wins Suit

DOVER, Del, Nov. 9.-In a civil
action in Kent County Superior
Court, In which Edwin Prettyman,
of wilmington, Del. sued the
Union National Bank, Wilmington,
for recovery Of the difference in
the sale Of 1000 shares of Cities
Service stock at $28.5- and $40 a
share in 1929, q Jury has found in
favor Of PRETTY, an for 5000.
According to the statement of
facts to the jury, Prettyman had
authorized the bank to sell his
shares for $3.50. which it failed
to do, notifying Prettyman later
his stock had been sold for $40 a
share.
The Washington times., 1931-11-09
TONE
ON COTTON

NEW YORK, Nov. 9 Q.NSO.
The cotton market gave a sur.
prisingly favorable account Of
itself today, when in che reopen.
ing. following an especially ad.
verse Government crop report, it
showed a steady tone, with net
changes of from up 2 points to
off z points. Immediately there.
after, it pushed ahead until gains
close to 81 bale were chalked
up.
At midday. March reached 6.97
for a gain of 13 points, May was
up IA points at TIT, and July
was up l6 at 7.33.
The Washington times., 1931-11-09

Ia stock; d, scrip; "s1-dvidend: tee rtshtA
DIVIDEND dUIIars parenthe0e&
Dividend Symbos-G extra dividend in stock: G. 81
The Washington times., 1931-11-09
Coast Line
HQLf-YeQr Net S9.O7

Report of Atlantic Coast Line
Co. incorporated in Connecticut
as a holding company for year
ended June 80. 1881, shows net
income of $2,133, 800 after taxes
and charges, equivalent to $9.O7
a share (par 500 on 235,2OO
shares of stock.
This compares with $2,465, ,1O5
or $lO.4S a share in preceding
year.
The Washington times., 1931-11-09
LOCOMOTIVE INQUIRY

Alaska Railroad is inquiring for
one locomotive Of type 4-8-2, ac-
cording to Railway Age: the Nor
folk & Western will build 10 loco
motive tenders and will make ex-
tensive repairs to 500 steel coal
cars.
The Washington times., 1931-11-09
FIRST NATIONAL STORES

Sales of First National Stores,
Inc, for the four weeks ended
october "a. 1891, totaled $8,281,-
sos against $685., $40 a year ago,
q decrease Of $5S,S45 or 9 per
cent.
The Washington times., 1931-11-09
Sugar Firms Cut
Price of Refined

National Sugar Refining Co.,
and Pennsylvania Sugar Co. have
reduced the price of refined sugar
10 points to $50 cents a pound,
The Washington times., 1931-11-09
WASHINGTON STOCK EXCHANGE

Washington Gas 6's "A", $1,000
@1OO.
washington Gas SIS, "B," $1,000
102, $1,000 102.
Potomac Electric 512 per cent
preferred SO 10712.
American Service and Gas Co.,
10000; 10000; $4,000.
Seward daily gateway., 1931-03-26
LEGAL NOTICE

U. s. Land Office. Anchorage, Alaska. December 18th. l930.
 Notice of Application for Patent, Serial No. O6659.
 Notice is hereby given that c. D. Whitney. Palous, Washington, R. F. D. No. has made final proof on his Homestead entry, serial No. O6659, together with his witnesses, Wm. E. Baumann, Afognak, Alaska and w. T. White, Matanuska, Alaska, for the land embraced in H. E. Survey No. 1736 containing 139.673 acres, situated on west shore of Kizhuyak Bay about three fourths mile south west from N. end of Peregrebeni Point on Kodiak Island, Alaska, and is now in the files of the U. IS. Land Office, Anchorage, Alaska.
 If no protest is filed in the said U. s. Land Office at Anch- orage, Alaska, during the period of publication or within thirty days thereafter, said final proof will be accepted and final certificate will issue.
 J. Lindley Green,
 Register.
 Date of first publication Feb ruary 16, 1881.
 Date of last publication April B, 1881.
 Pub: Feb. Is. B, Mar. ?, 3, IS. B, 30, April 6, 13, 1881.
Seward daily gateway., 1931-03-26

< Palnter and Decorator 2 3 :s s3 q q .3 :: g ss st {: {. .s ss {
Seward daily gateway., 1931-03-26
PLAYS OKEHED

Seward pupils from the grade classes had the opportunity and pleasure Tuesday afternoon of reviewing the four student plays which this evening will be pre- sented to the general public in the Liberty theater. One and all put their stamp of approval on the program.
Seward daily gateway., 1931-03-26
WEST COAST FUR SALES

TACOMA, Mar, 26, (R-Fur buyers of the United States and Canada spend $72,0OO monthly at the fur sales of the West Coast Fur Sales Inc. Alaskan mink and red fox caught most of the popular prices which were slightly lower than month ago.
Seward daily gateway., 1931-03-26
PORCUPINERS WON

The fast indoor baseball nine from Porcupine City, beautiful suberb of Seward, trimmed the sails of the MS Discoverer crew last night at the s. A. c. gym, putting the game away to the tune of a 24 to 12 score. Cannon ball Otto sandbeck, pitching, and Marty Skinner, that peerless battery, had the situation we'll in hand at all times. Not SO with Chief Keilcheski of the Hoodo- ilnqua tribe, with Skookum Mo
Seward daily gateway., 1931-03-26
ON RIGHT TRACK

PROVIDENCE, R. I. Mar. 26. P)-The Rhode Island senate concurred with the house ill the passage of resolution which de- nounced national prohibition and demands the action of Congress in looking towards a repeal or modification of the Eighteenth amendment. The measure goes to the governor. Arctic ice was down to the Bering Sea February 19, accord ing to recent report. Reports from up the railroad line are to the effect light snow has fallen.
 Capt. Leonard CT eenberger, we'll known local salt" had his boat on the beach today making minor repairs. New stock of Linoleum R"gs at lower prices at J l.. Graef Do not forget to send an Easter card The Alaska Shop.
Seward daily gateway., 1931-03-26
UNDERWENT OPERATION

UNDERWENT OPERATION
 Mrs. Mary McEwen, who has been making her home with Mrs. Edw. Crawford, was operated on yesterday by Dr. A. D. Haver- stock. in the Seward General Hospital. She is reported as re- covering nicely.
Seward daily gateway., 1931-03-26
WILLING TO TAKE CHANCE

NEW YORK, Mar, 26, (R- Sir Wilkins said between 50 and 60 experienced submarine men have applied for the post made vacant by the accidental drown ing of Quartermaster Willard Grimmer of the Nautilus. This shows they have faith that we will reach the North Pole and re- turn successfully"
Seward daily gateway., 1931-03-26

Arctic icebergs are made in the summertime. not in winter. Figure it out or write Gateway. Believe it or not, etc.
Seward daily gateway., 1931-03-26

T Surrender Dear." beautiful new Bruns- wick record now at the Alaska Shop
Seward daily gateway., 1931-03-26

endeavor to secure for you the help desired. Phone Adams l26 or can ct the M & " Club. Seward, Alaska
Seward daily gateway., 1931-03-26
CANVAS OR LEATHER

If there is any canvas or leather work to be done bring 1t to the Seward Leather Works. We're equipped to make repair.
Seward daily gateway., 1931-03-26

New stock of Linoleum R"gs at lower prices at J l.. Craef
Seward daily gateway., 1931-03-26

Auiey behind the bat, who had tough evening of it. There were 13,00O paid admissions, more or less Time of game. 2 hours. os minutes and 385s seconds
 NOTICE
 me Belmont Trading Company will short V open Tor business as traders in all kinda U, merenandise, new at second hand, at the old log house Fifth Avenue
 Joe Hoffman q :s q |: 2 :s q :. .a !. :. q .s :; :, {, 2 WALL PAPER q s s Aron Ericson a " Painter and Decorator :: s9 ss q q ss tt ts :: :s ss {. |: {. ss u c
Seward daily gateway., 1931-03-26

Do not forget to send an Easter card The Alaska Shop.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-17
MCCORMICK ASSAlLS
STATEMENTS OF VETS
Wickersham Commission Member
Denies Charge 100000 Was
Spent in Dry Law Probe.
BY the Associated Press.

BY the Associated Press.
LOS ANGELES, February 17.-Fed-
eral Judge Paul j. Mccormick. mem
Der of the Wickersham Commission
appointed by President Hoover to- in
vestigate law enforcement, attacked
yesterday what he termed "misrepre-
sensations broadcast by the vets" that
the commission spent $500 900 inquiring
into prohibition.
The committee appointed to investi-
gate prohibition was allotted sos 900 for
that work" Judge Mccormick said
up to February the total amount
expended in the investigation was
S35 922.63. While I do not know that
there will be any further investigation.
there still is available $29,077.37 for this
purpose"
The jurist added that "YetS through
out the country have attempted to place
the commission in bad light by max
ing it appear that prohibition was the
sole issue"
Prohibition was but one phase of an
investigation OF crime that covered a
variety of subjects" he said Other
phases of the investigation were: The
causes OF crime, cost of crime, the
courts. crime and the foreign born.
official lawlessness. police departments,
penal institutions, prohibition and
parole, crime prosecutions and statistics
on crime and juvenile delinquency"
Judge Mccormick said he expected to
return to Washington to attend sessions
of the commission March 4.
Because of the large number OF visi-
tors from Germany, where the film was
banned. the run of All Quiet on the
Western Front in Luxembourg this Win
ter had to be extended
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-17

service with the British. our argument
was strengthened regarding the desira-
bility OF keeping our own troops together
and organizing them into an American
Army at the earliest possible date
Further discussions with officials and
other engagements in London during
my visit are noted in my diary of April
"a. 1918, as follows:
Called Monday on Ambassador Page,
who spoke of heavy losses by British
and said my offer to Foch had greatly
pleased them.
Talked with Admiral Sims. who
thinks decreased danger from subma =
rines warrants sending troops by cur
smaller ships.
"On Tuesday Winston Churchill told
me that as the German attack was a
month later than expected. they had
plenty of artillery and could help us
out
Called on Mr. Lloyd George. who is
gratif1ed to have Americans with Brit
ish Army. Discussed allied supply plan
with him, but got little encouragement
Had luncheon with Maj. and Lady
Aston.
"Dined informally at st. James Pal
ace with Duke Of Connaught, who does
not share the gloomy outlook"
Tomorrow Clashes With
Foch on Troop Shipment, Standing
Firm for Cur Plan)
copyright. 1891. in all countries by the
North American Newspaper Alliance. World
rights reserved including the Scandinavian.
Reproduction in whole or in part pronlolted.)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-17

blatant troops mentioned in connection
with May shipments should be followed
by such services of supply and other
contingentS as we ourselves might con-
slider necessary, the shipment of a large
number of these troops having been post
poned. and that all these troops should
be utilized at my discretion, except that
the six divisions which the British were
to transport would be trained with them.
Reaching Chaumont, 1 found that a
cablegram dated April % had been re-
ceived transmitting memorandum
dated April 10 that had been sent by
direction of the President to the British
Ambassa dor at Washington in conform
ity with his approval Of note No. 10. In
this memorandum the shipment Of
100. 600 infantry and machine gun units
per month for four months was con-
ceded, with the understanding that
their assignment for training and use
should be left to my discretion.
First Official Information.
1t went on to say that the United
States until the situation changed had
no mention of departing from as full
compliance with the recommendation of
the permanent military representatives
as the nature of the case would permit.
This was the first official information
had received that the admnistrat ton
had agreed to send any specific num-
bers of infantry and machine gun units
to France.
The following quotation Is continu-
alton of the memorandum.
1t being also understood that this
statement is not to be regarded as a
commitment from which the Govern
ment of the United Stats is not free 10
depart when the eXigencieS no longer
require it: and also that the preferen-
tial transportation OF infantry and
machine gun units here set forth as a
policy and principle is not to be re-
garded as SO exclusive as to prevent the
Government of the United States from
including in the troops carried by its
own tonnage from time to t be rela-
lively small numbers of personnel OF
other arms as may be deemed wise by
the United States as requirements, and
either to make possible the use OF a
maximum capacity of ships or the most
efficient use of the infantry and ma
chine gun units as such transported, or
the maintenance of the services OF sup
ply already organized and in process of
construction for the American Army
already in France"
This concession went further than 1t
was necessary to go and much further
than 1 had expected. Realizing the
complications that might arise from
commitments so far In the future and
the delay in forming an American
Army that would follow, 1 did not
agree in later discussions at the SUI
preme war council with all that the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-17

allies now felt justified in demanding,
was opposed to the action of the SUI
preme war council in assuming the
power under any circumstances to dis
pose of American troops. It was not
in any sense a prerogative of the SUI
preme war council.
Concession Embarrassing.
There can be little doubt that Lord
Reading received the distinct impression
from President Wilson that infantry
and machine gun units would be sent
to France at the rate of 10000 men
per month for four months. beginning
with April. That the President agreed
to this in principle" is practically
certain. 1t need not be further en-
phasized that such a concession. even
though prompted by the most generous
impulse. could only add to the difficult
ties OF our task of building up an Army
Of our own.
1t Is probable that Lord Reading,
skilled advocate that he was did more
while Ambassado at Washington to
influence the administration to grant
allied requests than any other lndi-
vidual
The Secretary OF War upon his return
caused the administrations position to
be somewhat more clearly defined and
much to be desired in the way OF
positive declaration Of our purpose to
have our own Army. 1t left a very
definite notion in the minds OF the al
lies that the administration at WASH
ington was favorable to amalgarnatlon
and that the main obstacle to be over
come was the military head of Amerl-
can forces in France. This Is doubtless
the reason why all the allied verbal
heavy artillery" was often turned in
my direction.
The agreement made in London. as
actually drawn. while insuring the ship
ment of largely increased numbers OF
troops, did not commit us TO sending
infantry and machine-gun units ex-
clusively beyond June l. The conces-
sion we made for May was a radical
departure from the sane policy of bring
ing over balanced forces in complete Or
ganizations, but the clamor was 80
great and the danger of calamity
seemed so imminent that the temporary
departure from that policy was thought
TO be warranted as a means Of helping
the allies.
Irish CONSUMPTION.
The question Of applying conscrip-
ton to Ireland was then under consider
alton of the British, and it seemed
probable according to views expressed
more or less guardedly, that British
troops would be required to enforce It,
Inasmuch as such a measure might
possibly have affected the attitude of
American troops of Irish origin toward
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-17
LONE BANDIT ROBS
! TRAIN PASSENGERS
Gets $500 and Flees to Auto
in Exchange of Shots.
Porter Saves ST. 900.


MONTGOMERY Ala. February IT.
Seven passengers lounging in the OBJ
servation car of tire southbound New
York-New Orleans Crescent Limited ~
1t speeded through Georgia last night
were held up and robbed of approx
mately $500 by lone two-gun bandit,
who escaped in an exchange of shots
with fagman.
The robbery occurred between New
mand and Moreland, Ga. at 7;20 PIN.
Passengers credited NJ. Pierce, a Pull
man porter. with keeping the roober
out cf the dining car. where the steward
had more than 81 900 in his cash ac-
count. Pierce. noting the robbery while
1t as in progress. crawled on his hands
md knees to lock the forward door
of the observation car.
Bullets. Speed Flight.
The bandit kept good distance be-
tween himself and the passengers. force6
G. H. Thornton. a Negro bus boy. to
collect the money and then dropped of
the platform a. he brought the train to
halt by pulling the emergency stop
cord.
l.. o. Waller. Santa Maria, Calf,
reported the largest loss, 5000, and q
ticket to Los Angeles.
j. r. Chatham, fiagman followed
the bandit to the platform and ex-
changed shots with him as he fed IN
car that apparently had been waiting
on side road
Saves Brides" Rings.
E. H. Barker of New York. said the
bandit took S65 from himself and s25
from his bridr. Barker. said he saved
his wife's ring by pleading that they
were Just married Mrs Barker tainted
when the bandit entered the car.
Mrs. Henry Celaya of San Antonio
said she saved $4,000 diamond brooch
and number of rings by tossing Them
to the floor.
In the dining. car number OF pas
sengers hid their money under plates
and food, while Negro employees stuff
ed currency into milk bottles when n
was believed the bandit could advance
into the diner.
Salt is the only food product which
must be imported into Hungary.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-17
Living Proof of
Its Value

Mrs. a. lIildebrand~ Of lOC
Greendale Stree Methuen
Massachusetts, says: It am
greatly pleased to let YOU know
how wonderful Father Johns
Medicine has been for us. My
two children offer a living proc;
OF its value. Before using it they
were aiIing most of the time and
had frequent colds. Now I give
it to them constantly and they
are strong in the best OF health.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-17
Used by 1874 Hospitals
and Institutions

Father Johns Medicine con-
tainS just the right amount OF
cod liver oil in the right form to
do the most good. 1t supplies in
ca ,ilv assilnilated form the body
building, Strength-building vita
Minis so necessary to growing
children. 1t is guaranteed free
from alcohol or dangerous drugs.
Give it to your child at the
first sign of cough or cold. 1t
forms soothing. protective
film over inf1amed, congested
membranes and helps to break a
cold right up. Give it regularly,
and notice how colds and sick
spells become few and far be-
tween. Just ask your druggist.