davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-08-12
Just Plug Away at Your
Job, Is Haney's Advice

tail trade has recently turned
duller. as the continuous sales"
lose their attraction.
Motors Sales Drop
Even General Motors sales of
automobiles in July declined con-
siderably more from June than
they did in either 1880 or in 1929.
Total production of cars was off
more than seasonally, and weekly
figures show a continued decline,
Iron and steel production
dropped sharply in July to new
lows for this depression. The un-
filled orders of the Steel Corpora
tion declined, which is unusual
in July.
The hardware and machinery
trades are duller.
Lumber orders have fallen well
below even the present curtailed
production.
The weakness in several foreign
exchanges, including sterling,
shows a deplorable lack Of buy
ing power abroad. This not only
hurt our exports. but even threat
ems the gold standard for money.
Speculation Gone
We can be thankful that specu-
lation is gone and brokers' loans
are we'll liquidated; also that so
many prices and wages have been
readjusted without any panic.
Just keep plugging away at your
own business, give all the help
you can to those in distress, and
close your ears both to calamity
howlers and to panacea chasers.
The Washington times., 1931-08-12
CLOTH MARKET QUIET

NEW YORK, Aug. IL UN.SO
Whatever changes occurred in
the coarse yarn gray cloth mar
ket today applied on very few
constructions and were Of minor
Importance. A few 1.0OO-piece
blocks sold and a few of larger
size. Beyond these the situation
was reported quiet and conSid-
cred in a drifting state for kinds
of goods that had not yet fully
felt the effect of price adjust
ments. Contracts were also
placed for a few speciality con-
structions at prices slightly less
than could have been done the
evening before.
The Washington times., 1931-08-12
COTTON TRENDS
ARE LOWER

NEW YORK. Aug. IL 0N.SD
The setback which was under way
on the previous days close con.
tinued in the New York cotton
market during the forenoon trad,
ing today on lower than expected
Liverpool cables and a favorable
government weekly weather re,
port.
There was a further increase
in southern selling credited as
being hedge sales. Commission
houses liquidated, wire houses and
spot firms sold. The chief sup
port was Wall Street covering
and an accumulation of price
fixing orders mainly from the
Continent.
At midday, october sold at
$50, off 13. December at TOO,
off IL. January at ITO. off 16.
March at 7.31, off 10. and May
at 7.45, off 16.
Temperatures were again mostly
moderate in the cotton belt with
only local rains as rule west of
the Mississippi River, but with
more widespread and substantial
showers in the eastern half of
the belt. Except for too much
moisture in local areas. prin-
cipally in the Central States, the
weather continued mostly favor
able.
The New York Cotton Exchange
service estimated a 425, ,000-bale
consumption of cotton by domes-
tic mills in July against 425, 900
in June and 100000 bales in July
q year ago.
The Washington times., 1931-08-12
NATIONAL BANK
RESOURCES
PLUNGE
Off Nearly Half Billion in
Three Months, With Deposit,
Loan and Capital Dips Also

Resources of national banks Of
the United States June 80
amounted to $27, ,642, ,698 900, a de.
crease of $483, ,769, 900 since March
and of $1,473, Ball 900 in a year,
Comptroller of the Currency j. w.
Pole announced today.
In March, there were $685. re-
porting banks and, on June 80,
1880, 1882. compared with 6,805
the date of the last call. The
large reduction was due chiefly
to bank failures, although there
have been some consultations.
Big Drop in Loans
Loans and discounts on June
80 amounted to $13,177, ABS, 900,
showing decreases in the three
and twelve-month periods of $544,.
$4,000 and $1,710,267,000, re-
Spectively.
National banks at the last call
held $3,256,268,O00 in Govern
ment securities, increases of $685..
$4,000 and $500, 1877 900 in the two
periods. Because of the lack Of
demand for loans. banks have
been turning largely to Govern
ment securities for their invest
mentS.
Capital stock paid in of the ma
tional banks amounted to $1,637,-
663, 900, a decrease of $28,591 900
since March and $56,311,000 in
the year. Surplus funds totaled
81 ,493, $4,000, decreases of $685.
$4,000 and $199,744,000 in the
two periods.
Deposits Off Billion
Deposit liabilities in June
amounted to $22,198, ,240,000, de-
crease of $145,926,000 since March
and 81 ,070, ,644,0 900 in the year. De-
mand deposits amounted to $10,.
los, 1885, 900 and time deposits $8,.
579,590,000.
Time deposits included postal
savings of $2O7 ,2O5.OO and saw.
ings passbook accounts of $6,031,.
S14,o0O, representing 15,245,o2s
accounts.
The percentage of loans and
discounts to total deposits on
June 80 was 1896, in comparison
with 61.41 in March and 63.98
June 80, 1880.
The Washington times., 1931-08-12
COST Of LIVING
DIP REPORTED

Based on returns from 81 cities
on food, and from 80 cities on
various articles of clothing, rents,
fuel and light, house furnishings
and miscellaneous items. the Blu
reau of Labor Statistics yester-
day announced there has been n
decline of SIS per cent in living
costs since last December.
During the first six months of
this year prices declined 1881
per cent in the food group; 6
per cent in house furnishings;
SIS per cent in the fuel and light
ing group; 4.6 per cent in The
clothing group; 81 per cent in
rents, and 81 per cent in the
miscellaneous group.
The Washington times., 1931-08-12
YIELD UP
DURING JULY

Average yield on the 323 active
cash-dividend paying common
stocks listed on the New York
Stock Exchange rose from 1853
per cent to. 3.16 per cent during
July as a result of declining
prices, 1t was announced today
by Moody's Investors Service.
The latter yield. as of August /,
compares with the peak of 9.71
per cent recorded at the be-
ginning of June.
OF the 43 individual groups of
stocks listed in the compilation,
80 showed higher average yields
than at the end of the preced-
ing month, the analysis states.
Gains were most conspicuous in
the case Of agricultural imple-
ment, can manufacturing, &C.
ment, electrical equipment, ma.
chinery, office equipment, thea
ter and amusement, and rail
stocks.
The decrease was small in each
Of the five groups having lower
yields.
The Washington times., 1931-08-12
Hardware Market
Is ReDOrted Dull

NEW YORK, Aug. 11.-Sunn-
mer dullneSS is reported from
practically every major wholesale
hardware and houSefurniShingS
center. Current business appears
to. be on a par with the unSatiS-
factory August volume of 1880.
Interest in fall merchandise is
very limited, with both jobberS
and retailers expressing an un-
warranted lack of confidence in
prices, Hardware Age will say
tomorrow in its weekly hardware
market summary.
The Washington times., 1931-08-12

ment company is owned by the
corporation and the lines in.
cluded in the group cover prac-
tically all Greyhound bus routes
east of the Mississippi River.
Net Gain Nears Million
This comparative statement
shows that in the first half of
1881 the companies operated by
Greyhound Management Com
pany earned a net income of
$735,838 after deducting deprecia-
ton, interest, and taxes as COM
pared with a deficit of $24S, 400
in the first half of 1880, an i'm
provement in net results amount
ing to $984,337.
The individual companies rep
resented by these figures include
Eastern Greyhound Lines, Inc,
and subsidiaries, Pennsylvania
Greyhound Lines, Inc, and sub
salaries, and the bus operating
subsidiaries of the Greyhound
Corporation.
Contrary to the experience of
most transportation systems, the
Greyhound Lines in the eastern
territory showed an increase in
revenues as compared with last
year. Operating revenues for the
first six months of 1881 were
$6,143,121 as against $5,S50,929
for the same period in 1880, an
increase of 81 per cent.
Fewer Miles Run
The gain in revenue was OBJ
tanned in spite of a reduction in
bus miles operated from 1904
826 miles in the first half Of 1880
to 1902 ,292 miles in the 1881
period. There was an increase IN
revenue of 81 cents per bus mile,
while operating expenses, exclu-
sive of depreciation. were reduced
3.8 cents per bus mile. Depre-
citation written off against buses
was $743,232 in the first half of
1881, as compared with $643, 768
in the same period of last year.
Earnings of the Greyhound
Lines operating in the territory
west of the Mississippi River
have not been released, but it
is understood the improvement
was approximately as. large as
the gain shown by the eastern
lines.
The Washington times., 1931-08-12
BY LEWIS HANEY
Director New York University Bureau
Of Business Research

OF Business AeBeArCh
Gradually but steadily we are
being forced by circumstances TO
recognize that the correction Of
Embellishments in business and
finance is the first essential for
recovery.
There are still those who have
panacea for depressionS, and
who think that some stimulus"
can be given which will pull
business out. But as the newt
able deflation and liquidation
proceed they are becoming fewer
and less cocksure.
Commodities Lower
Last week the business news
certainly gave little encourage
ment to the inflaters and stimu.
lators. Here are the facts:
Commodity prices declined,
such things as cotton, wheat and
rubber touching new lows. A
majority of the price changes
were declines.
The Government estimate of
the new cotton crop was so large
that it suggests a staggering
supply.
July department store sales
averaged 8 per cent below a year
ago. The average daily sales
declined more than usual from
June. Mail order sales were IL
per cent below a year ago. Re
The Washington times., 1931-08-12
BOND AND SHARE
OFFERS STOCK

Additional financing for the
Electric Bond and Share Com
pany, in the form of an issue of
100000 shares of cumulative $5
preferred stock, is announced by
Bonbright & Co., Inc, who are
offering the shares at a price of
$89.75 and accrued dividend to
yield 5.57 per cent.
In connection with the offering
it is announced that earnings for
the IL months ended June 80,
1881, were equal to more than
four and one-quarter times an
nual dividend requirements on
all preferred stock to be outstand-
ing upon completion of this
financing. The preferred stock
is followed by slightly more than
100000 shares of common
stock which has an indicated
market value. based on present
quotations, of more than $780,
600. 900.
The Electric Bond and Share
Company controls one public
utility holding company, Ameri-
can Foreign Power Company, Inc .,
and holds substantial minoriyt in
terests in five other public utility
holding companies - American
Gas and Electric Company, Ameri-
can Power and Light Company,
National Power and Light Com
pany, Electric Power and Light
Corporation and United Gas
Corporation, the subsidiaries of
which supply electric power,
light and other public utility
services in 80 States.
The Washington times., 1931-08-12
Cottonseed Report Puts
Mil Actipity Lower

Cake and meal, tons, 2,162,218
and 2,231,992.
Hulls, tons, 1903, ,4oS and 1888
SGT. .. .-
Linters, running bales, 824, 174
and 1,038,17
Hull fiber, 500-pound bales, So
O06 and 1874. .. -. .-
Stocks, July 81
Seed, at plants, tons. 26,003 and
IS, ,434.
Crude oil, pounds, 1891 ,2S5 and
7,893,957.
Refined oil. pounds, 277,S22, ,496
and 301 500 ,092.
Cake and meal. tons, 1S0,29l
and 55,352.
Linters, running bales. l74,99S
and l35,220s
The Washington times., 1931-08-12
National Stores, Inc.,
Earnings Increased

First National Stores, Inc, re-
ports net profits of $1,24O,355 for
the quarter ended June q, 1881,
after providing for depreciation
and Federal taxes, equivalent, af-
ter preferred dividend require
ments for the period, to $1.41
per share on the 815,785 shares
Of common stock outstanding.
This compares with net profits
of $1,179, ,297 in the corresponding
periodS of 1880, equivalent after
preferred dividends to $1.33 per
share on the 82O,70O shares of
common stock outstanding.
The Washington times., 1931-08-12
Car LOadings Rise
SLightLY for Week

Freight loading for the week
ended August l totaled 1928,
an increase of 1854 cars or 2
per cent above the preceding
week, the American Railway AS
sociation announced yesterday.
This was 162.488 cars of IT'S
per cent below the corresponding
week last year and 348,627 or
31.5 per cent below 1929.
Miscellaneous freight filled 2S7, :
312 cars, isis or 2.9 per cent
above the preceding week, but
1889 or 1915 per cent below
1880 and 148.0S4 or "a per cent
below 1929.
The Washington times., 1931-08-12

The Census Bureau today issued
the following report showing the
amount of cottonseed received,
crushed, and on hand. and cotton.
seed products m nufa cture d,
shipped out, on hand and exported
for the IL months ending July 81,
1881. and 1880, respectively:
CottonSeed received at mills ex'
cluding reShipmentS, tons, 1884,
1863 and 5,021.65 crushed, tons,
4,713,776 and 5,0l5,714.
Products Manufactured
Crude oil. pounds, 1,441, ,781, ,3l6
and 1,572,321,675.
Refined oil, pounds, 1928, ,235, ,4O6
and l,412,735,270. "a
The Washington times., 1931-08-12
FirestOne Offers
Bonus on Cotton

The Firestone Tire and Rubber
Co.'S cotton mills will pay for
seven pounds additional cotton at
whatever price per pound the cot
ton is bought If put up with 100
per cent cotton wrappings instead
Of jute wrapping, and providing
the total tare does not exceed the
usual cotton terms providing for
4.8 per cent.
The Firestone mills will accept
cotton so wrapped until July 80,
1892
The Washington times., 1931-08-12
BIC GAIN SHOWN
! IN GREYHOUND
EARNINGS
Bus Lines in East Net Profit
Of S735,s3s in Six Months;
Had Deficit in 1890 Period

Greyhound Corporation, whose
subsidiaries and affiliated bus
companies constitute the Grey
hound lines which serve Wash
ington and surrounding territory,
made public today a comparative
summary of revenues and ex-
penseS for the first six months
of this year and the first six
months of 1880 of the companies
operated by the Greyhound Man
agement Company which repre-
sent more than so per cent of
the total mileage of the system.
All Of the stock of the manage
The Washington times., 1931-08-12
Approve Operation
OF WaUerLu Plant

PITTSBURGH, Aug. 12.-Oper
alton of the Pittsburgh plant OF
the Waverly Oil Works has been
authorized by the board of di
rectorS, C. M. Barr, recently
elected president, declared.
He said July sales were double
those of June and that reductions
had been made in operating ex
penSeS.
The Washington times., 1931-08-12
Engineering Jobs
ShOU Rise in JULu

In July, for the first time this
year, engineering construction
contracts awarded throughout the
country exceeded the total for the
corresponding months last year,
Engineering News-Record reports
Lettings in the five weeks ag,
gregated $270.11O,O0O, which com.
pareS with $196. $4,000 in the
four weeks of June and $263, ,557. :
900 in July, 1880, a five-week
month
The Washington times., 1931-08-12
Coal Conference
Waits on OLUnerS

Replies from coal operators on
their attitude regarding a general
conference to discuss the prob.
lens of the industry were being
awaited yesterday by Secretary Of
Labor Doak and Secretary of Com
merce Lamont before they decide
whether to call the gathering.
Doak and Lamont, at the PreSi-
dents request, asked ITS opera
tors for their views on the good
that can be accomplished at such
a conference. So far they have
not received enough replies to
determine the trend.
The Washington times., 1931-08-12
Trade Conditions
S1qQinQ in France

Conditions in France, the last
country to feel the depression
grew steadily worse last week, it
was reported to the Department
of Commerce yesterday.
Difficulties there are increas.
ing in the metllurgy, textile.
coal and leather industries and
unemployment is gaining. AL
though exports and imports
gained. the unfavorable balance
reached a new high figure.
The Washington times., 1931-08-12
International Corp.
Seeks to Buy Nassau

An offer to acquire the Nassau
Management Corporation, through
an exchange of stock, has been
made by the international Utili-
ties Corporation, an Investment
trust holding company. Glidden,
Morris & Co., managers of the
trust, have agreed to the plan.
Nassau Management stockhold-
ers will have the option of receiv-
ing for each share of Cheir stock
either two shares of International
Utilities class B stock or one-half
share of International $1.75 pre-
ferred stock and one-half share
Of the class B.
The Washington times., 1931-08-12
AMERICAN STORES SALES

Sales Of the American De
partment Stores Corporation for
July, 1881, amounted to $495, ,7l9,
aS compared with $559,137 for
July, 1880. a decrease of 500, Alb,
or lis per cent. Sales for the
six months ended July 81. 1881,
were $4,144.600, as compared with
4,402. 1858 for the corresponding
period of 1880, a decrease of
e26S, ,362, or SO per cent.
The Washington times., 1931-08-12
Perfect Circle Net
And Sales Increase

Net profits of the Perfect Circle
Company for June were 83 per
cent above those of June, 1880
and Al per cent ahead Of the
same month in 1929, c. Ray
Teetor, treasurer, reported.
Perfect Circle replacement sales
for the six months ending June
80 gained 81 per cent over the
corresponding six months of 1890
A preliminary report for July in.
dicates that replacement sales
may gain approximately 80 per
cent over July, 1880.
The Washington times., 1931-08-12
Chicago Switching
Rate Basis Revised

The Interstate Commerce Com
mission has prescribed a revised
basis of switching rates for the
Chicago district.
The action by the Interstate
Commerce Commission is designed
to equalize these charges as be-
tween interstate and intrA3tate
movements of traffic,
The Washington times., 1931-08-12
GRAINS OPEN STEADY

CHICAGO. Aug. IL UN.SJ -
Grains opened steady to firm to.
day. Wheat was unchanged to
"a of a cent lower. corn un.
changed to "a of a cent higher
and oats unchanged to is of a
cent lower. Opening prices:
Wheat-September, 49A N49Aa
December, So; March, SSA;
May, So.
Corn-September, 49A6D492s ;
December. 39%@39A; March,
41A: May, 43A@43B.
Oats-September, 22022R; De,
cemher. 23A@24.
The Washington times., 1931-08-12
Coral Gables Fund
Plans Announced

Plans for the refinancing of
100000 Indebtedness of the
City Of Coral Gables, Fla, was
announced today by the bond
holders protective committee.
The new securities will consist
of $4,0OO,0OO of refunding bonds,
carrying a 6 per cent coupon and
becoming due in 40 years, and
certain deferred securities known
as corporate stock to the amount
Of approximately $5,00O,000.
The Washington times., 1931-08-12
|. CASE co. ADVERTISING

]. I. Case Company will soon
launch a national advertising
campaign announcing its new
corn harvester. New features Of
the machine are summarized by
the company. 4
The Washington times., 1931-08-12
Leaf Tobacco Rises
About Cent o. Pound

DURHAM, N. c., Aug. IL.
Average price paid for tobacco on
most of the border belt markets at
this weeks opening is 9 to 10
cents a pound better than the
average on the same date last
year.
The price range was from 2 to
10 cents a pound for the greater
part Of the offerings. with some
few piles bringing IS to 20 cents a
pound,
The Washington times., 1931-08-12
Canadian Balance
Turns Favorable

The Canadian foreign trade bal
ance TO rthe first time since last
December was on the favorable
side in July, S. H. Logan, general
manager of the Canadian Bank
of Commerce states, in the
monthly review Of conditions in
the country,
The Washington times., 1931-08-12
YOUNGSTOWN PAYROLLS

The wage disbursements through
Youngstown banks during July de-
clined 7.58 per cent from the June
total and were 1887 per cent be-
low the payroll for July. 1880.
The Washington times., 1931-08-12
Standard Pipe Line
Oil Deliveries Drop

Total crude oil deliveries by the
ii pipe line companies forming
the old Standard Oil group were
l1,738.84 barrels, a daily average
of 378,672 barrels for July, COM
pared with a total of 11.393.536
barrels, daily average of 379,f85
for June.
The Washington times., 1931-08-12
News of Trade
Gains Today

Leaf tobacco prices uO l
cent a pound.
July engineering jobs up
81 ,OOO,OO over 1880.
Canadian trade balance
favorable in July.
Perfect Circle June net
higher than past two years.
Florida tax rate lowest in
p years.
The Washington times., 1931-08-12
BALTIMORE CLEARINGS

Baltimore clearings for the
week ended August 8 totaled
$92, ,448, ,204, an increase of $685..
TIT over like 1880 period, when
clearings we're $86,944,487.
The Washington times., 1931-08-12

New York funds in Montreal. 9S.43z
premium on 81. 900.
Montreal funds in New York, ss.43%
discount on 5000.
The Washington times., 1931-08-12
financial Neovs Stocks Bonds Commodities and Connen
New York Bond Market

U. s. Govt Issues
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
Cannon RECEIVES
ATLANTA OVATION
Indicted Bishop, Acclaimed by
1000, Goes to Session of
Methodist Farley.
BY the Associated Press.

BY the Associated Press.
ATLANTA, Ga, October 17.-Bishop
James Cannon, jr., indicted today by
Federal grand jury for violation of
the corrupt practices act, was given an
ovation by 1000 persons who crowded
into Wesley Memorial Church here last
night at the opening of the sixth world
wide conference of MethodiSm.
The demonstration lasted for several
minutes as Bishop Cannon walked
slowly with the aid of a crutch down
an aisle and onto the rostrum to sit
with other dignitarieS of the denomin-
alton gathered from the four corners
of the earth.
After the meeting many persons gath
cred at the bishops chair to grasp
his hand.
outside, the police estimated, at
least 5000 persons waited some time
after the opening of the conference
seeking admission.
The conference is being attended by
$50 delegates, 220 from foreign coun-
tries, including England, Ireland, Ger
many, Cuba. China and Japan. 1t is
held once in 10 years and this is the
first ever held in the South.
Bishop William F. Mcdowell of
Washington, senior bishop of the Meth
odist Episcopal Church, presided over
the opening session.
The opening sermon was delivered by
Rev. C. Ryder Smith, president of the
Wesleyan Methodist Church of Great
Britain. He said the matter of nation
alities had been problem for the
last four or five centuries without
solution.
Your ultimate loyalty is to God, and
for the glory OF God nations may need
to deny themselves" he asserted.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
|DEFRERE REWEOS
CHICAGO SINGER
Second Ceremony Performed
by Baptist PaStor-Faces
100000 Damage Suit.
BY the Associated Press.

BY the Associated Press.
WEST NEW YORK. N. j., October
l7.-Half of Desire Defrere's troubles
were disposed Of Thursday when he and
Hilda Burke were married for the Sec
ond time by Baptist pastor here.
The first marriage Of the Chicago
Opera stars took place last Thursday,
but they had left their license at the
Town Hall. and the legality of the
ceremony was questioned. Yesterday
they obtained the license that had
caused the trouble and had it with
them while the remarriage was taking
place.
The other half of the singers troubles
are caused by $500 900 suit brought in
Baltimore by William S. Burke, former
husband of the prima donna, who
charges Defrere with alienation Of af-
fections
The Burkes were divorced in July
and two weeks later Mrs. Burke an
nounced her plan to marry the Chicago
Opera Co. baritone. New York officials
refused them a license. however, on the
ground Burke had not been served with
papers in the divorce action. Officials
at Newark declined to issue o license
until 70 hours had elapsed.
Saturday the couple announced in
Baltimore they had been married in
West New York It was then the cues
ton of not having procured a license
was raised.