davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-03-07
GENERAL FOODS
HAS Bic YEAR

General Foods Corporation re
ports net earnings for 1880 of
$19,085, ,595, equal to 1888 a share
on the 5,256,843 shares of the
company's no par value common
stock outstanding at the close of
the year.
This compares with consoli-
dated net profits, not including
profits of subsidiaries prior to
acquisition, of $19,422,313, or SO
per share for 1929, the company's
record year.
Combined net earnings, includ-
ing profits prior to acquisition Of
subsidiary companies in 1929,
totaled $2o,519,O46, or $3.50 a
share.
The balance sheet of the COM
pany discloses an increase in the
profit and loss surplus to $15,134,-
255 at the close of the year, COM
pairing with $11,824,177 as of De
cember 81, 1929. The ratio Of
current assets to current liabili-
ties stood at 5.3 to l at the close
Oh ldSC year, DIS against 81 10 l
at the close of 1929. C. M.
Chester, jr., president, COM
mented:
"While good earnings are
shown for 1880, they did not
equal those of the record year
Of 1929. Largely because of lower
interest rates, operating
revenues miscellaneous incOme)
decreased from S1,635,242 in
1929 to $799,184 in 1880, a diff
ference of $836,O58.
Operating revenue for 1880
apprOximated that of the pre-
ceding year, despite generally
unfavOrable business cOndi-
fi0nS."
The Washington times., 1931-03-07
STANDARD OILS
CUT DIVIDEND

Cash dividend payments of the
Standard Oil group of companies
for the first quarter of 1881 will
total approximately $62,032 416,
according to figures compiled by
Carl H. Pforzheimer & Co. This
compares with $83,047,644 paid
in the final quarter of 1880 and
$66,722, l68 in the first quarter
of 1880.
Disbursements in the last quar-.
ter of 1880 included an extra pay.
ment by Imperial Oil, Ltd.
amounting to over" $13,000,000.
Low Crude Prices
The decline in first-quarter dis
bursements this year is accounted
for by the prevailing low level of
prices of crude oil and refined
oil products. The companies en-
gagged largely in crude oil produc-
ton were most severely affected.
This is reflected in the reduc-
ton in dividends of Ohio Oil Com
pany, each having reduced the
first quarter dividend to Is cents
a share from so cents a share in
the first quarter of 1881 against
621a cents a share paid in the
final quarter of 1880.
Other Reductions
Among other companies reduc-
ing payments were Atlantic Re
filming Company. Standard Oil Of
Nebraska and Standard Oil Of
Kansas.
In the pipe line group, Prairie
Pipe Line Company declared the
regular quarterly dividend of IS
cents a share, but omitted the
extra of 90 cents a share. Cum
berland Pipe reduced its divi-
dend to so cents quarterly from
81 and New York Transit to Is
cents, against 40 cents previously
paid quarterly.
The Washington times., 1931-03-07
A. B. DICKINSON
IN NEW BERTH

Important new positions recent
ly accepted by well-known Wash
ington executives are pointed to
as evidence that the turn in bust
ness activities is of far more than
seasonal significance.
Noteworthy among the Febru-
ary transfers in Washington's fl
nancial world was that of Arthur
B. Dickinson, who has been ap-
pointed assistant general manager
OF the Strathmeade Community
Development, which, owing to
greatly accelerated activities, has
made extensive additions to it's
executive staff.
Long a resident of the District,
Dickinson goes to his new position
from the Washington offices of J..
W. Seligman & Co., where he was
associated for years with Frank P.
Morse, local head of this we'll
known firm of investment bankers.
Prior to the Seligman connec-
tion Mr.. Dickinson was also asso-
ciated with Mr.. Morse when the
latter represented Redmond &
Co., in Washington.
While accepting congratula-
tions from many sources, Mr..
Dickinson points out that the
pleasant association of years
gone by could not be terminated
without sincere regrets, notwith-
standing the exceptional oppor-
tunitieS presented by the new
Strathmeade connection.
The Washington times., 1931-03-07
BY PROF. DALTON ]. PILCHER
Department of Economics, Univer.
verSity of Arizona

President Hoover's commission
on unemployment has finished it's
work. Although addresses on the
subject are yet being given, va
riouS chambers of commerce are
active, and Will Rogers again
pricks vulnerable spot when he
says that if there was a job for
each after-dinner speaker dealing
with present economic conditions,
there would be no unemployment.
The solution for the conditions
which have caused 5,000,0 900 per-
sons to be out of work, judging
from what is being done, seems
to lie in such devices as busi.
ness confidence week, the use of
slogans, such as idle dollars make
idle workers." and the reduction
of the working day to six hours,
or the week to five days.
Wage Maintenance
There is, however, another
method OF analyzing the problem
"a method which deals with fun
damental factors supporting pres
ent economic conditions. In a
word, the question resolves itself
to this: Can the high standard
of living developed during the last
ID years be maintained?
A conclusion easy to be reached
is that the postwar stimuli of de-
mand became totally ineffective
when agriculture production and
factory output increased beyond
the limits agreed upon. A further
conclusion is that the problem of
today's overproduction would
tend to be influenced by the law
Of supply and demand.
Overproduction does not mean
that certain quantity of com
modities cannot under any condi-
tions be consumed, for it is COM
mon knowledge that the present
surpluSeS of the United States.
England and Germany can be util-
lied in India and China. There is
more to an effective demand than
the desire to have or to possess: =:
there also must be the ability to
pay.
Purchasing Power
Ability to pay or purchasing
power is obtained by performing
one or some of the principal func-
tions of the industrial world. For
convenience, the book terms cap
ital, labor, and entrepreneurship
may be used. In view of the fact
that there is only a slight demand
for persons to assume risks yield
ing a greater return than the re,
The Washington times., 1931-03-07

CHICAGO. March G.N.SD. Hogs:
Receipts, 1000. market steady Top
$765; bulk, $615d7.6O heavyweight
$S.s0@7.S5; medium weight. $3.50 7.G5;
lightweight, $7.4O@765; light lights
pigs. $6.40 Obs; holdovers. 1000.
Cattle-Receipts, 100, market steady
Calves, receipts, 100; market steady
D00f steers, good and choice. $9111.25;
common and medium. S6QS5O: year
linEs. $6611. Butcher cattle heifArs
S599; cows, S4G6.5O' bulls S4n6;
calves seas: feeder steers S61S2S;
stocker steers. S5dS; stocker cows and
heifers. $4d6.50
Sheep-Receints, 5000; market steady
medium and choice lambs. sSd9; culls
and common $5.5O67: yearlinss S6 so
@s; common and choice ewes s?q5;
feeder lambs, 7QS.2S.
The Washington times., 1931-03-07
JAPAN SEEKING
STEEL TRADE

Keener competition in export
trade in iron and steel is indi.
Gated by the increasing pressure
of japanese steel products in Far
Eastern markets, according to
the Review, published by The
Bank of America N. A. It states
that in the past Japan has always
been dependent upon outside
sources for the greater part of
the iron and steel consumed there,
and has been one of the most i'm
portant markets in the world for
these goods, and continued:
while iron and steel products
will undoubtedly continue to
be imported into Japan in i'm
pOrtant quantities for some
time to come, rapid expansion
in the domestic industry is
steadily tending to make Japan
more nearly self-sufficient, and
recently has even resulted in an
attempt to find a foreign out
let for certain classes of finished
iron and steel.
The search for export mar
kets in 1880 was to a large
extent a temporary develop
ment, the result of the world
wide economic depression which
had reduced the consumption of
iron and steel in Japan. The
return of Japanese trade and
industry to a more normal rate
of activity will render the need
for foreign market for
Japanese iron and steel less
urgent.
''It is believed, however, that
even when this temporary pres
sure is removed, increasing pro-
ductiOn will continue, to some
extent, to stimulate the search
for foreign markets.
Exports of steel from Japan
in 1929 are estimated to have
amounted to about 100000 tons,
but in the first ten months of
1880, exports increased sharply,
the total for that period amount.
ing approximately to 100000
tons"
The Washington times., 1931-03-07
Smaller TOlUns ShOIU
Larger Auto Sales

The smaller the city, the larger
the automobile sales in proportion
to total retail business of the COM
munity, according to a Commerce
Department survey yesterday.
BY all recognized laws of econo-
mics retail opportunities increase
with population, but in automo,
biles cities of 100000 popula'
ton show only II per cent Of their
total retail business in cars, those
of 100000 population about 18 per
cent; $4,000, about 22.5 per cent;
$4,000, about Is per cent, and
10000 about 80 per cent, the
survey showed.
The Washington times., 1931-03-07
SedbOGrd Line Clues
NeLU Post to DOnnY

Announcement has just been
made by G. z. Phillips, passenger
traffic manager of the Seaboard
Air Line at Norfolk. of the pro-
motion of it's Washington repre-
sentative, w. Hugh Donny, to
the position of general passenger
agent. Mr.. Donny, who will
retain his office here, recently
came to Washington from New
York, succeeding Phillips as gen.
eral agent.
Other promotions are as fol-
lows: ". L. McMorris, assistant
passenger traffic manager, Nor
folk; C. H. Gattis, general passen-
ger agent, Norfolk; S. B. Murdock,
general passenger agent, New
York city; s. G.. Linderbeck, gen.
eral passenger agent, Jackson
vile; Fred Geissler, general pas
senger agent, Atlanta; C. B.
Barton, general passenger agent,
Pittsburgh.
The Washington times., 1931-03-07
CURB STEAD|ES
AFTER SLIP

NEW YORK, March 7 I.N.SD.
Curb stocks seemed to have
some steadying influence in a
less active weekend session TO-
day, and after an initial wave
of selling had run its course,
firming up tendencies appeared
in a considerable number of &C
tive trading leaders.
The advances we're not overly
impressive, however. since it was
only logical that the augmented
ranks of the shorts with sub
stantial profits to their credit
would seek to clinch a part of
their profits in the final session
of the week.
Spectators Shy
Thus while the market ap-
peared to be on it's way to retrace
portion of yesterdays declines,
speculative quarters were not dis
posed to place too much faith on
the staying qualities of this up
turn, and here and there evi-
dences of renewed liquidation
were diScernible. Traders, with
one eye on the activity on the big
board, were somewhat nervous
over the widespread tipping &C
tivities which were taking place in
the utility group.
It was natural that the curb
utilities would follow the pace set
by their associates on the other
exchange, but the difference was
simply this: That, whereas on
the big board the utilities COM
prised but one group of large
number. on the curb they were
actually the dominating influence.
Uneasiness Rules
The uneasiness was caused by
the fact that reactionary ten
dencies had not yet been impaired
to the utility section to any de-
gree, while the flood of reports
bearing on this group we're in
dicative that pool operators we're
anxious to unload some of their
holdings on the public. Eastern
States Power B was the outstand-
ing strong cpot in the utility
group.
The Washington times., 1931-03-07
67-Cent Net ShOIUn
By MQytQg COMPANY

The Maytag Company reports
for 1880 net profits of $2,030,302,
equivalent, after dividends of
$1.328,761 on the first preferred
and cumulative preference stocks,
to 43 cents a share on 1917 922la
shares Of common stock outstand-
ing at the end of the year.
Net profits for 1929 were $6,-
838,884. equivalent, after preferred
and preference dividends. to 1888
a share on 1,617 ,8221a shares of
common. Net sales in 1880 were
$14,470,938. as compared with
$25, ,625,557 in 1929.
The Washington times., 1931-03-07
Chain Stores Lead
Los AngeLeS Sales

By the slight margin of 8 per
cent Los Angeles chain stores
have gained the lead over indie
pendents in volume of sales,
according to preliminary census
figures. But more than two-thirds
of the chains are strictly local in
operation and ownership, so that
SO per cent of the trade, it is
pointed out by the Alexander
Hamilton Institute, remains in
the hands Of local merchants.
The Washington times., 1931-03-07
Depression? No; New Era
Here, Says Professor

turn given to labor, purchasing
power for the various articles Of
fered for sale today Is vested in
the capitaliStic group and the la
boring group.
The relation of capital and Ia
Dor is not of one parity. Capital,
In addition to available cash, IN
cludes tools, machinery-represen-
tative of the labor of another pc
riod-which works daily in COM
petition with human labor. An
illustration in point is the result
of a recent investigation which
disclosed that Of total costs in the
iron and steel industry, only Z per
cent is allocated to labor.
The foregoing observation is
important because the kind OF
goods offered for sale in the prin'
cipal American markets are com
moditieS to be consumed by the
working class. The capitalist and
the landlord (the latter included
to avoid controversial subject)
realizing that an ostentatiouS dis
play of wealth is, as a rule, re-
garded unfavorably, has no occa-
sion to buy a new car, expensive
clothing and so forth. It is ap-
parent that his desires are pro
portionately less than the in.
crease to his capital.
Labor Losing Ground
Labor, each day, is receiving a
smaller individual and aggregate
return. Unemployment is in
creasing and wages are being
reduced.
Obviously, the ability to pay
or the ability to purchase the
goods offered only at slight re-
ductions is less today than it was
a few years ago. This is equiva-
lent to saying that though the
United States today is in a posi-
tion to give more economic goods
to the consumers than it ever
has been able to do, the con.
sumers cannot avail themselves
of this accomplishment. The re-
suit is that the standard Of liv-
ing of the last IA years cannot
be maintained, at least with it's
progressive aspect.
Because Of the violent disturb
ances Of many fundamental fac
tors Of the economic life during
the last few years, adjustments
should not be relied on to re,
store business to it's former po-
sition of intense productivity
There is no depression; the coun-
try is entering upon new
economic epoch.
During the transition changes
will be affected in population,
wages, price levels and interest
rates.
The Washington times., 1931-03-07
GAS TOWN BUILDING

The building Of a "smokeless
town." a residential community
Of 200 homes in New York city,
which will use gas for all service
purposes, including house heating.
is described in the March edition
of Appalachian, issued by Ap-
palachian Gas Corporation
Health Commissioner Wynne of
New York recently stated that the
smoke evil costs New York $685.
900, 900 yearly.
The Washington times., 1931-03-07
February Dividends
Total S237,9O3.422

February cash dividend pay
mentS made by domestic corpora
tions totaled $237, ,903, ,422, accord
ing to the Standard Statistics
Company, of New York. Rails
led the list of major divisions
with a total of $55,025.677 while
electric light and gas companies
were next with $46,050, 311.
The Washington times., 1931-03-07
STORES PAY DIVIDEND

Interstate Department Stores,
Inc, have declared a regular
quarterly dividend of so cents q
share on the common. stock Of
the company payable April J..
1881, to stockholders of record
March 20, 1881.
The Washington times., 1931-03-07
AUBURN PAYS DIVIDEND

Auburn Automobile Company
announced today declaration of
its regular quarterly dividend Of
81 a share cash and the usual
additional quarterly dividend of
two per cent, payable in stock.
The Washington times., 1931-03-07
NEW VACUUM PROJECT

Vacuum Oil Co. stockholders
will be asked to vote at the an.
nual meeting on March 10 on
the amount of capital which the
company shall use in carrying on
operations in Portugal and the
adjacent islands, according to
The Washington times., 1931-03-07
AVERAGE B 0 Nd
Y|ELDLOW

Average yields of new corporate
bond issues at their offering
prices in February showed a
continuance of low interest rates
the index for the month stand
ing at 5.03%, according to the
weighted by volume index Of
Lawrence Stern and Company,
investment bankers of Chicago
and New York. 1t states:
"The 5.O3% level shows a rise
from the January figure of
4.S5%, but still represents a
comparatively low interest level
the January average yield
having been the lowest reg
istered since the Lawrence
Stern and Company was
started. Railroad issues in
February showed an even lower
average than in January
4.49%. The index for the
month was raised, however, by
the comparatively higher re-
turn on new industrial and
public utility issues"
The Washington times., 1931-03-07
district Real Estate Financial News Bond and Curb Lists
New York Bond Market

1917 means IOI I-S2
Fr0cfiOnS rsDresenf 92ndS
The Washington times., 1931-03-07
PAPER MARKET DULL

The commercial paper market
is less active than recently, with
prime names continuing at 212
to "a per cent.
The Washington times., 1931-03-07
CHICAGO LIVESTOCK

New York funds in Montreal pa
ontreal funds in New York par
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-25
MOVE NEARER
TO REPEAL OF
WEISS TAX ACT
Author of Law Charges
'RaiIroading' on Part
of Myers.

Moving q step nearer, repeating
the only tax relief legislation thus
far enacted by the general assem-
bly, and approved by the Gov
ernor. the Indiana house today
moved to third reading the Walls
man house bill resembling the sus-
pension of delinquent tax penalties
for this year as provided for in the
Weiss act.
Progress Of the house toward re-
versing itself was accomplished only
over the bitter protests Of Repre-
sentative Jacob Weiss Dem., Mar
ion), author Of the penalty suspen-
sion bill. He charged House
Speaker Walter Myers with rail
reading the Walsman bill through
and deceiving me by telling me the
bill wasn't coming up for action to-
day"
Debate on the Walsman bill de-
veloped a split in the Marion coun-
ty delegation, Representative Fred
s. Galloway aiding Weiss in efforts
to defeat the Walsman repeal
measure and Representative Clyde
Karer backing up Representative
Albert Walsman.
"Parasitica1 county treasurers are
back Of the fight to kill this bill"
shouted Weiss, in defending his
measure as "the only bit Of tax
relief legislation passed this ses-
sion"
Weiss repeatedly had difficulty in
obtaining recognition from the
speaker as he introduced motion
after motion to defeat the repeal
oil.
Finally he shouted at Myers:
Mr.. Speaker. I want the floor. I'm
on my feet now"
He then introduced motion to
make the repeal bill a special order
Of business. for March 8, final day
Of the session. This also was de-
feated and Weiss sat down in dis
gust expressing resentment at what
he termed Myers railroading."
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-25
Legal Notices

in the General Conditions of the speci-
trustees and Of the Architects.
M Each proposal shall be. properly
signed with the full name Of the person.
firm or corporation submitting the same.
~ Each bidder shall file with his bid
an affidavit that such bidder has not di-
rectly or indirectly entered into any COM
bination, undertaking. collision or agree
ment with any other bidder or Erospec-
tive bidder to maintain the price Of any
work or contract, or to prevent any other
bidder from bidding or to induce any
bidder to refrain from bidding on any
contract work and that such bid is made
without regard or reference TO any other
bid. and without any agreement or IN
derstanding or combination. either d.
rectly or indirectly. with any other per-
son with reference to such bidding In
any manner whatsoever.
% The Trustees reserve the right to
reject any and all proposals.
TRUSTEES OF THE INDIANA WORLD
WAR MEMORIAL.
MARCUS s. SONNTAG. President.
FRANK II. HENLEY. Secretary.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-25
CAPONE TO FACE JUDGE
ON CONTEMPT CHARGE
Failure TO Appear in 1928 Liquor
Probe Cause of Hearing.
By United Press

EIODe cause OF EAcdAlh6'
By United Press
CHICAGO, Feb. 25.-Scarface Al
Capone faced arraignment before
Federal Judge James H. Wilkerson
today on charge Of contempt Of
court.
William F. Waugh, one Of the
many attorneys of public enemy
No. l." said Capone would appear
at 10 a. m. as demanded.
The specific charge upon which
Capone's presence was demanded
was that he was in contempt when
he failed in 1928 to answer a fed
eral jury subpoena to appear for
questioning about his liquor bust
ness.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-25
i4'-0 '''-' BY B. J. T. JEUP. President.
o. c. ROSS. Vice-President.
n MOORE
INDIANA WORLD wAR MEMORIAL

NOTICE TO BIDDERS
l. fa1 Sealed proposals viii be received
al the office of the trustees OF the. IN
diana World War Memorial Indiana
world war Memorial BUILDING. c9rTner
spolis, Indiana. until 10 O'Clock a. m.
tuesday. March II. 1881. Tor iurnlsnlns
materials and labo- required for the con-
yniscellaneous work fcr Building B Of the
Indiana World War Memorial structures
in the CITY OF INDIANAPOLIS: Indiana. als
as per contract documents. plans ana
Weeks 1architeets. 2s4i Carnegie avenue,
cleveland, Ohio and approved ano
~ The plans. specifications. contract
forms lin the orm that Will be, REQUIRED
10 be signed by the successful bidder and
seen at the on se Of the trustees and Of
the Architects. Copies Of the plans ana
sPe ee q the rnssess IS or fom the Arch
$500, up Doiars rsp Witch eesposit viii be
aS sndsS "a. T 4snaa as Osns d fRa fpehRR
shall be. certified and made payable to
NS 9c9 All PROPOSALS shall be made and
submitted on special proposal forms, fur
,nished hv the Architects, and strictly aS
required therein, i9lcllossd IN 2 IS ssa lea
work to which il refers and addressed TO
Trustees OF the lnoiana Morla Waf
em ea1 ard az va e stqsets indian
al Each proposal shall be accompanied
by an approved surety company,s bond
trustees OF the Indiana World War Me-
mortal IN an amount equal 70 ten per
cent. tiosl Of the. cid or proposal ten.
any any, relief whatever from valuation and
appraiSsmsnt laws q The st .bs S 81 nd Il
hold ana re sSi al = ceEtifed checks and
guarantees bonds. submitted until an
award Is made and s contract IS entered
4 II for any reason en- whatever the success
full bidder fails 20 enter into a contract
within ten tl0l. DAYS after the aware is
forfeited to and retained BY the Trustees
OF the Indiana World War Memorial as
and for liouidatsd damages sustained by
Ter sH into sue c5 contrscs ana II such SID is
posal guarantee bond. then and in that
Memorial shall have the riEht to recover
eS and for houioated damages the fun
AMOUNT Of the penalty Of such bond to-
per cent 1897 per ennum and attorneys
fees. IN either case. Trustees OF the In
diana World War Memorial reserve the
right 70 let the contract 10 any other OF
said bidders whose bid NAV be deemed
BY ss!d Trustees 70 be the next lowest
ana @ q sh ssfSs sg az de 9sei be oaS
fel Each proposal shall have the
amounts written with ink or typewriter
IN words ana figures. Each bidder shall
state the tine witiin which he agrees 70
complete the work comprised II this con-
tract.
~ The tine set Cor the completion OF
the work BY the bidder Will be considered
IN determining the successful bidder.
~ Upon the acceptance Of any pro-
posai ard the award OF the contract. the
bidder 70 whom the award is made will
be required within ten liol days TO enter
into the contract and 70 give an approved
Surety Bond in the form and IN the
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-25
Card of Thanks

wish to thank our many
relatives. friends and neighboTs for their
nanv acts Of kindness, show us during
the illness and death OF our mother. Mrs
Louise K. Schupp. Especially do we
thank the Rev. Mr.. Daries for his consol-
ing words; Mrs. Hermann. soloist, and
the undertakers. Moore s. Kirk for their
efficient services. and al who contributed
to the beautiful floral ofIerings-Sons
and Daughters.