davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-06-09
CLOTH MARKET

NEW YORK, June 9 G.N.SD.-
Prices of print cloths IN first
hands declined an additional ls
sent today, and there was shading
of market values engaged in by
second hands on representative
yardageS. Action was restricted
to a few centers, and a number
of buyers known to be interested
in goods were indisposed to make
purchases. Many sellers, however.
would not meet the new levels.
Carded broadcloths were slow.
Sheetings were dull with little
interest shown and prices Ur-
changed. Drills awakened q
little interest. but not mucn busi-
ness WAS done.
The Washington times., 1931-06-09
BOTTOM LIKELY
NEARING FOR
REACTION
Probably Due Before Month.
Ends, Says Haney, but Final
Upturn to Wait Until Fall
BY LEWIS HANEY
Director New York University Bureau Of
Business Research and Former
Economist Of Federal Trade

Director New YORK I University bureau OF
Business Research and Former
Economist Of Federal Trade
Commission
After a bad break early last
week the market rallied sharply,
only to sell off again on Friday
and Saturday. The net result OF
the weeks trading was almost nil:.
Al the close on Saturday the
averages we're less than half a
point above the final figure O.
week ago. The rails made the.
most progress, with a gain Of.
about point and a quarter.
Misc ellaneous manufacturing
companies and foods were appres,
ciably higher. Steels and stores
were up fractionally.
Secondary Reaction" "
Bonds we're mixed, but lost a.
ground. Motors, equipments, cop,
pers and oils were down little. vi.
Bonds we're mixed, btu lost a
small fraction on average. ~
The present position of the,
market is. to be interpreted as.
being in a secondary" reaction.
This is likely to go little fur.
ther. There is as yet, however.
no definite indication as to-,
whether the decline will carry
through the preceding low level
or not.
1 look for short period of ir...
regular weakness, then the bot
tom of this secondary reaction,
then small recovery followed by.
sidewise movement until we get
more light on the above matters
and on the fall business outlook.
This might last through June.
1t does not seem wise, there
fore, to go short of the marekt at =
present. look for lower prices in.
certain coppers. utility. store and
food stocks. There is a distinct
possibility of one more period or.
decline-perhaps in July. go.
Support of Financiers -
But just now we find the tech:
nical position fairly strong, and
the market probably not very far .
from a secondary bottom. It is
pretty clear that financial powers
gave support last Tuesday. !"
This market is going to make
sustained recovery whenever in
veStment buying catches up with
liquidation selling. That time is
perhaps not so distant as the
peSSimistS fear.
There are still too many i'm.
portant stocks which yield around
4 per cent. however. to allow US
to hope for the final turn at this
time.
Transportation worries can he Oyer-.--
come economically through the pnr.
chase Of a good used car. one of the
many GOOD BUYS listed In tOday's
Classified Section.
The Washington times., 1931-06-09
Chicago Must Cut
S3O,OOO,OOO EXPENSE

Local governments of Chicago,
Cook county, drainage district and
similar bodies, will be compelled to
reduce 1881 expenditures by $780,
100000.
Banks will not lend more than
go per cent of tax levies in antici-
patton warrants, necessitating a
cut of IS per cent from the previ.
GUS limit.
The Washington times., 1931-06-09
OBSERVES
ANNIVERSARY

The twenty-flfth anniversary Of
the opening of Washington Me
chanics Savings Bank is being
celebrated today. It was organ
ized in the spring of 1906 and
opened June 8, 1906, by Ezra
Gould. who has been it's president
since it's first election, April II,
of that year.
The Washington times., 1931-06-09
WHEAT OPENS Low

CHICAGO. June 9 T.N.SD
Moderate losses were recorded by
local wheat prices in the early
trading today.
The local market opened % to
12c lower and shortly before noon
ruled u to 5sc off. Fair support
was in evidence on the decline.
The strength in the New York
securities attracted some atten-
ton.
Corn was 1sc up to Ac off.
Trade was quiet and easily in
fluenced. Oats we're unchanged
to 1sc down and rye "a to l2c
lower.
The Washington times., 1931-06-09
Poor Foreign Trade
Adds to Depression

Foreign trade has been a more
adverse factor in the present de-
preston than in any depression
in the past 80 years, according to
a survey made by ]. H. Lewis. of
Goodbody and Company, who has
compared the dollar volume of
exports and imports in peak bull
market years with those in the
deepest depression years following
such prosperity years. He said:
During this century our ex-
ports and imports have in
creased so rapidly that even in
depression years, for the most
part, there has been no stop
page to the yearly increases"
The Washington times., 1931-06-09
LIGHT
GROUP CHIEF
HITS FOES
W. Alton Jones Tells Atlantic
City Convention Curb Now
Is Needed on Politicians

ATLANTIC CITY, N. j., June g.
In an address at the opening OF
the fifty-fourth convention of the
National Electric Light Associa.
tion, at Atlantic City today, w
Alton Jones, president took to
task politicians who he said are
trying to use the light and power
industry as a means of attract.
ing the attention of voters, say.
ing in part:
'1t would seem to me. and 1
believe that millions of other
Americans share my view, that
the time has come when those
entrusted with the guidance of
our political institutions should
devote more of their time to
improving the efficiency of gov
ernment and less to dabbling in
private business, particularly
where the records show that a
private business has been able
to reduce its cost consistently
for 40 years.
Heavy Tax Cited
Il believe the average citizen
can see the great difference be
tween the low cost of electricity
and the high cost of politics.
It is no longer a secret that the
cost of our Political institutions
has become one of the greatest
burdens which our people have
to bear.
"The tax gatherers of this
country are now taking a toll
of over $4,000, 100000 per year
from the pockets of the people
of this country. This represents
20 times as much as the do
meStic consumers now pay for
electric service.
"ThiS industry alone pays in
direct taxes approximately $780,
100000 per year, which repre-
Sents 1Oc out of every dollar
collected in gross revenues, and
almost One-third of all moneys
collected for domestic electricity.
''It would be interesting, in
deed, if some of the political
quackS who are so prone to
criticise the light and power
business could devise some
means of providing free electric
service for the people of this
country. 1t is hardly likely
that any Of these quacks; no
matter how resOurceful they
may be in political strategy,
will ever be able to do anything
of the sort.
Points Way to Savings
But cOnceding for the sake
of argument that they might
accomplish the impossible, how
much easier it would be for
them to undertake a reduction
of only 5 per cent in the cost of
Government. If they would do
this, the total savings to the
people would be greater than
the entire bill they pay for do
mestic electricity"
Mr.. Jones is one of the coun-
try'S youngest chief executives.
Still in his thirties, he is first
vice president of Cities Service
Company, chairman of the execu-
tive committee of Henry L..
Doherty & Co., and a director of
more than so corporations in the
Cities Service organization.
The Washington times., 1931-06-09

In the final convention call
mailed to all members of the
association yesterday announce
ment is made that no reserva-
tions will be accepted after
June 13.
Frederick H. Cox, vice presi-
dent of the Commercial National
Bank. is chairman of the trans
portation committee, and will
handle all requests for trans
portation up to the close of office
hours on Saturday.
A special train will leave
Union Station on Wednesday
evening, June II, at $50 o'clock,
arriving at Hot Springs Thurs
day morning.
The Washington times., 1931-06-09
Short Line Sought
BY Missouri Pacific

The Missouri Pacific railroad,
controlled by the Van Sweringen
interests, today asked the Inter
state Commerce Commission for
authority to acquire the Chester
and Mt. Vernon road running be-
tween those two Illinois towns,
by purchase of 1000 shares of
outstanding capital stock at
$98.03 per share. The stock has
a par value of $50 per share.
The road runs through a rich
coal territory and has been under
lease by the Missouri Pacific.
The Washington times., 1931-06-09
TLUO Indiana Banks
Arrange MerqeT

SOUTH BEND, June 9.-The
First National Bank and the In
diana Trust Company yesterday
merged into one institution, with
Ernest M. Morris, president of the
Associates Investment Company,
as president.
Vincent Bendix, president of
Bendix Aviation Corporation; Nor
rls, and others subscribed to $780,
600 of stock before the merger
was announced.
The Washington times., 1931-06-09
BURLINGTON NET UP

Chicago, Burlington & Quincy
Railroad Co. in May had esti-
mated net operating income of
81, ,444, 900 which would compare
with $1,097, ,562 in May, 1880.
Gross for the month was around
$9,3ll,000 as against $11,O19,l77
a year ago.
The Washington times., 1931-06-09
Bond Offerings
Bring NeW Lou Yield

Reflecting the influence of a
number of high grade bond offer
ings, the average yield of new
corporate issues at offering prices
registered new low level in
May, according to the weighted
by volume index of Lawrence
Stern & Co., investment bankers
of Chicago and New York.
The index stands at ASS per
cent as compared to the previous
low mark of ATS per cent in
March of this year.
The Washington times., 1931-06-09
Workers Agree on
so Slice in Wn1eS

Employees of the Empire Steel
Corporation, numbering about
1.6O0, have reversed their pre-
vious stand in regard to wages
and agreed to accept a S per
cent reduction. They voted vol
unfairly to take the cut.
Preparations are being made
for the resumption of work at
the Falcon works of the corpora
ton at Niles, Ohio. c. H. Henkel,
receiver, has been given permis-
sion by the court to operate the
properties.
The Washington times., 1931-06-09
RECORD BANKER
CONFAB SEEN

Frederick P. H. Siddons. gen.
eral chairman of the District of
Columbia Bankers Association
convention which opens at Hot
Springs, Va, June 8, announced
today that registrations are COM
ing in rapidly and the expecta-
ton is that a record number of
bank officials and directors will
attend.
The Washington times., 1931-06-09
MONTH INCOME
INSURANCE
URGED
Beneficiary Draws Regular
Sum Every 30-Day Period
During Entire Term of Life
BY FRANK F. LOOMS


Monthly income insurance is
coming to the front very rapidly
for the reason that the larger
part of life insurance purchased
Is intended for family expenses,
rent, food, clothing, education
ETC., which usually are cared for
by the month. The greatest rea-
son for a mans carrying life in
6urance is his desire to replace
MS income, or part of it, in
event of premature death. He
wants to feel secure in the knowl-
edge that his family will have
no hardships after his death.
Authorities say and statistics
prove the first two years after a
mans death are the hardest on
his family because they are
thrown into circumstances to
which they are unaccustomed.
However, if an C Gu o m d
monthly income is provided, the
dependents may gradually adjust
themselves to the change death
brings about.
Cash Soon Gone
Why leave a large amount of
cash in the hands of an ineXperi-
enced woman to either invest in
some manner or deposit in local
bank? Why shouldn't the insured
leave this money for investment
with a sound insurance company
where it will certainly earn a
good rate of interest and be
cared for by experienced finan-
ciers without cost or loss whatso-
ever, and have the company pay
to the beneficiary monthly in
come just as she received before
her husband died?
Many a man may believe his
wife is a good manager and can
take care of money. But on
what basis is she a good man
ager? She is probably a good
manager on a monthly basis
because she has had training and
experience that way. Monthly
income insurance will simply
enable her to continue as a good
manager.
Many men could not handle
$4,000 to good advantage, and
statistics show that if the aver
age woman is given $4,000 cash,
1T will be gone in three years.
If she is given $4,000 every
January to last during the year.
she will run short about October
or November, but if she is given
$3.50 per month, she will never
be in need.
A man may protect his wife
from financial problems. after
his death, by arranging for a
monthly income to be paid to her
the first of every month, no
matter where she is, and whether
business is good or bad.
Income for Life
For instance, a life insurance
contract may be written in such
q manner that the sum of $100
or 5000, or whatever monthly
payment is selected, will be paid
every month to your wife or
beneficiary as long as she may
live, no matter how long after
the death of the insured. And,
in case she should die before the
monthly payments have been
paid for at least 20 years, the
unpaid portion of the remaining
years would be paid to her heirs.
The cost of such a contract
varies according to the age of
the insured and also the age of
the wife or beneficiary at the
time the policy is taken out. All
that it is necessary to do to
know the cost for yourself is to
get in touch with some old line
legal reserve life insurance COM
pany, giving them your age, the
age Of your wife, and the amount
Of the monthly income you wish
to leave after your death, on the
above plan.
The Washington times., 1931-06-09
COLON OIL YIELD

Colon Oil Corps, subsidiary in
Venezuela, produced 142,870
barrels during the week ended
May 20, compared with 142,690
barrels in the preceding week and
1926 barrels in the corresponding
week of 1880.
The Washington times., 1931-06-09
NEWS
In TodayS
CLASSIFIED ADS

HOME FOR SALE-Beautiful Chevy
Chase-Iarge brick home-4 bed
rooms. bath, reception hall-llving
rOOm-twO large pOrches and garage
can be purchased at a very
low figure terms II desired.
Used CAR FOR SALE-193O
Standard Ford Coupe in ex-
ceIIent mecha anicaI condition -:
looks like new Can be bought
for only $3.50.
BUSINESS OPPORTUNITY - Here
is just the chance yOm have been
looking for a modern dairy
farm with fifty registered Holsteins
.Iamesway equipped retiring
owner will sacrifice on very liberal
terms investigate today.
SUMNER COTTAGES FOR RENT
one of the best beaches In nearby
virginia excellent bathing
and fishing reasonable rent
for the summer months.
FURNISHED APARTMENT FOR
RENT-TwO large rooms. bath
located on first floor d. gas and
today Mt a very reasonable price
Located near the Library Of
Tbrsr orr "s;dcJjoLts' on some Of maBy
ptevrstinO odrrrtj, emeHts you tcjH fiNd IN
9dqy's TiDc, aHd He,d'D Classified Ads.
The Washington times., 1931-06-09
". Y. Bank CIearings
y ShOW Bio Increase

New York Clearing House has
reported exchanges during the
week ended June aggregated
$!'518,11O.74O, compared with
$4,257. $4,000 during the preced-
ing week, which included only
five business days.
The Washington times., 1931-06-09
EXPORTS TO RUSSIA DROPS

Exports of American merchan-
disc to Russia during April were
about $1,000,000 in value less
than March shipments. the Com
merce Department reports. 1t is
believed here that agricultural
machinery accounted for the de-
cline.
The Washington times., 1931-06-09
ATCHISON LOADINGS

During the week ended June 6,
Atchison, Topeka & Santa Fe
Railway handled 27,408 revenue
freight cars against 29,466 cars
IN the previous week and 33,357
cars in the like 1880 week.
The Washington times., 1931-06-09
SURPLUS CARS GAIN

Class l railroads, on May %,
had 623,658 surplus freight cars
in good repair and Immediately
available for service, according to
the American Railway AsSocia.
ton.
The Washington times., 1931-06-09

The first days deposits we're
about $1,500, which since have
been multiplied more than 1000
times and now are above $3,000,-
600. 1t is an "honor roll" bank,
with surplus equalling it's capital
of 100000. and undivided profits
above SOS, 900,
The Washington times., 1931-06-09
Jobs in Cleveland
Drop 2I2T in Mdu

Cleveland employment dropped
22 per cent in May. bringing in
dex figure to 86.9. This time last
year index figure was 1919.
The Washington times., 1931-06-09
Financial Neus Stocks Bonds, Commodities and Conn1en
New York Bond Market
United states
Domestic
Fractions represent Sands
MI mennn INI LIZ

Lib 1st AIS S2-i7 reg1O I1O3S 1893
Lib 4th 4As S3-3s. l1O4 SOl1O4 2Sl104 IS
Treas AIS 1852: ..I114 I11S 3OI1IS 80
Domestic High Low Last
Abitibi Pw & Pap IS SO 47%I a AN
Allegh rcts 5s '5O..... SO SIS SO
Amer Ice 5s '53...... IS TAN rs
Am IG Chem 5ks '49. 81 81 81
Amer Nat Gas 6ias "a. IL IL u
Am Smelt Il R IS ~. !IO2h 1O2 1O2
Am Sug Ref IS 81. 1O4 y .lO4h 1O4lh
Atch T&SF gen As '95.- 100 y I1OO1 Y 1904
Atch adj As stp '95.. 81 g6as 81
At T&SF cvt AVS IS. .I112A HIPS 112k
Atl Ref deb IS 81. 1O1 5s 1O1 n I1O1 rs
BALTIC Ohio 4hs go S91a SO SO
B & . 1st As As. ..... 9S1s 9S1s 0Sb
K & o 419s '33.,.....i1OO 1913 100
b g. o 1st 5s '4S... i1O6 A1lO6A I1O6A
Berlin City Ell do 6las 71% 711al 71%
Berlin Elec f L 6i5s SO GS 6S
Beth st ref deb 5s. .i1O4 lO3L 1881
Boston & Me 5s 81. 9Sa 98 9s1a
Il u q LIST Ii &, rf A 6s.12l 121 121
Bur C'r R&N 1st 5s. 1919 I1O1Ia !1O1 u
Cal Pet 5s '3......... 80 81 50
Can Nat Rys SIS Oct I106 ~ 1863 1861
Can Nat Rys IS July. 1861 l106A 1861
Can Nat Rys 4% .j1O31A I1O31a 1O3h
Cent Pac 1st ref 4s... 965s 96l5 9sb
Cent Pac 5s '60...... lO2 l1O2 1O2
Ches Corp SIS '47...l 95h 95A 95A
CB&Q Ill div As 40. 995s 993s 99Ss
c M&StP gen 3Hs B'S9l 71B 71k TN
Chi M&StP gen As A 50 SO So
c M&StP 41as F. 49,. 911a 91h 91h
Chi RI&P AIS SO A. so 1871 50
Chi RI&P 4las CIV so 721a II 72h
CCCh &StI. rf 4hs E.. 975s 97Ss 97Hs
CCC&StL D 1st ct As 81 90 81
Col Indus col tr 5s.... so so 80
Col & SO ref 41as.... 1O1 = j1O1 l1Ol
Crown Zellerb 6s...... 6O1a 6Oh 6Ols
Cuba n Ry 5 5as...... 36 36 S6
cuban Dom 7i5s...... Z !
Del & Hud 5hs...... 1O5 los 1O5
Denver Gas & f 5s. Il03Ss I103%s 1O3S
DG&E 1st&rf 5s stp. .I1O3% 1913 q 1881
Dodge Mrs cy deb IS. S5% S5ls 85ls
Duquesne Lit 1st 415s.. 1861 1O5 4 1854
Erie pr In As ........ SS1s S8 S8
Erie 1st con In As .... ~ 71h 711a
Fla E Coast Ry 5s... IS 17h IL
Fran Ind Dew db 7hsI1O4 l1O4 104
Gen Mot ABB Is ..... 1OS1s l1O3 1882
Gen Pet Corp 1st 5s. 103 103 1913
ct Nor Ry gen 41ss d 97R 97% 97S
CT Nor Ry gen AIS f 81 96& 81
Hud&M adj inc 5s.... 77h TA TIA
Hud&M ref rs ......l 99lb 80 %
Ilseder StI 6s........, S2% S2& S2&
Inland Stel 41ss -: 9219 92h 921s
Inter Cement IS ..... S3 SO SO
Int r Tr 1st&ref 5s.. 72A 71h 72A
Int r Tr 1st&ret 5s. 723sl T11a IA
Int Rap Tr 6s........l so 60 so
Int Rap Tr CIV 7s....l 92%I 92H 92h
JamF& Crrf'd lst As. 967s 9GI2 96 *
X C FtS&M ref 4s...i 9213 81 ! 92la
KC P&L .I1O6A l1O6H 1O6h
Kings Lgt 1st ref 6lssl119 l119 l1i9
Kreuger & r SIS WV sOA S9% 30
Leh N(Pa) con AZ zoos 81 86ia 81
lie RR cons SIS 2O03 l03l2 I10& !: 103ia
Ligg G. Myers SIS ..O1OS Jos s1OS
La & Ark 5s.......... Al ~ ~
l. e. 1st&rf SIS. 10S y 1903 = I1O3B
Robb 5hs 6319 63Ia 63!3
Manh Ry NY 4s...... 59h 50 591a
Metro Wat S&Dr 52s so 4S so
Midv Stl&Ord 5s .... 1927 1929 l02A
Mil FL Ry 1st 5s.... 1O4 .104 l04
Mo K&Tex 1st 4s.... SS IS 50
NJ KIT 5s A....... 91h 9112 Ia
NJ KIT As B...,.... 80 SO 80
VI KIT adj 5s........l 72l2 12& TIA
Montecatini rs XIV. ISIS 81 81
The Washington times., 1931-06-09

Transportation worries can he Over-.--
come economically through the pnr.
many GOOD BUYS listed in tOday's
Classified Section
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
Senator's Defense
Of War Department
Again in Record
1913 Speech Revived Fol-
lowing Pershing's Crit
cism in Current Article.

An indication that Gen. Pershings
story OF the World War is bringing back
memories of those days to members of
Congress was furnished yesterday after
noon when Senator Robinson of Arkan-
sas, Democratic leader, obtained per-
mission to have printed in the Con-
gressional Record a speech in defense
of the War Department, delivered in
the House on February 7, 1918, by Sen
ator Glass, Democrat, of Virginia, who
was then a member of the other branch.
Senator Robinson said he was asking
that the speech be printed in the Rec
ord "in view of recent publications re-
lating to the proceedings and transact
lions in the War Department during the
period of the World War"
Senator Robinson explained later he
had presented the Glass speech for
the Record, because 1t was vindica-
ton of the War Department admin
istration at that time against some of
the things being said The 1918
speech dealt in detail with the way the
War Department was meeting the prob
lens Of the war, and was in reply TO
criticism of the military establishment
which had been voiced a short time
previous to February, 1918.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18

'I should very much prefer that all
in so far as my conference with Gen.
Petain and my remarks about the Am
basSador are concerned. For Gen.
Petain's sake as well as my own, no
suggestion or recommendation should
be made connecting him or me In any
way with whatever course that may be
considered advisable, should future
events seem to suggest action along the
lines indicated
1T trust. Mr. Secretary, that you will
because I feel that in no other way
could I place before you view of the
situation and its possibilities. In con-
clusion, I would add that have the
utmost confidence in Gen. Petain, and
believe that he is loyal patriot, whose
sole aim Is to serve and save France.
with high personal esteem and re-
spect, I remain
yours very sincerely,
"(Signed) JOHN j. PERSHING."
An entry in my diary notes: 1.-TWO
of the Roosevelt boys, Theodore, jr.,
and Archie, reported. Unable to par
ticipate himself, their fathers fine
spirit Is represented by his sons"
Tomorrow: Two major problems at
the outset, supplies and competent
leadership Of American forces in
France.
Copyright. 1881 in all countries by. North
American Newspaper Alliance. World rights
reserved. including the Scandinavian. Re-
production in whole or in part prohibited)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
GEN. SUMMERALL
TO HEAD COLLEGE
Quiet Retirement Plan Is
Forsaken to Take Control
of Charleston Citadel.
BY the Associated Press.

BY the Associated Press.
CHARLEST S. c. January IT.
Mai. Gen. Charles p. Summerall's
dream of spending the rest Of his life
quietly in Eustis, Fla, second lieuten-
ants cottage, announced when he re-
tired recently as chief of staff of the
United States Army. today gave way to
prospect Of his return to military en-
vironment.
Oficials of the Citadel the military
college of South Carolina, here, an
nollnced late today that the veteran SOL
der had accepted the presidency Of
| that institution, and would take up his
new duties at the beginning of the next
college year, September IL.
700 Cadets at School.
At the States military college he will
have in his charge the training of 700
cadets, whose college careers are pat
termed as closely after those of West
Point students as circumstances will
permit. A stan of four Regular Army
officers has been attached to the faculty
Of the institution since the World War.
| Each year number of Citadel gradu-
ates are commissioned in the Regular
Army without examination.
His new position will bring the Army
officer back to the scenes of his school
days. His first military training was OBJ
tanned as a cadet at Porter Military
| Academy here, from which he was
| graduated. He later won his appoint
ment to West Point.
Citadel Founded in 1912.
The Citadels history dates back to
1912. For the first 80 years the college
was situated on Marion Square, in the
heart of Charleston. In 1922, however,
the State Legislature provided for ex-
pansion. of the plant, and the institu-
ton was moved to its present site. For
a few years after the war of 1861 -65
the institution was closed because of
unsettled conditions in the State
Gen. Summerall will succeed Col
| Oliver J. Bond, who has been head of
| the institution since 1908