davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-20
CONSTRUCTION AIDS
WILL BE CONSIDERED
Meeting of Committee Is Prelim-
mary Step to Encourage
U. S. Industry.
BY the Associated Press.

BY the Associated Press.
The first step in bringing related
groups in the construction field to
focus upon major problems confronting
the entire industry was taken here last
week at the meeting of the Executive
Committee of the national conference
at the United States Chamber of Com
merce. The meeting was called jointly
by Secretary of Commerce Lamont and
Julius H. Barnes, chairman of the EX-
ecutive Committee.
Secretary Lamont explained that the
purpose of the meeting was to organize
the conference as a continuing agency
through which the construction indus
txies themselves might deal with their
intergroup problems. To that end, the
organization will provide for representa-
ton of business and other groups whose
activities lie in this general field.
Four main purposes of the confer
ence were defined. These included a
review of the outstanding common
problems of business and other interests
identified with public and private con-
structiort; selection of limited number
of problems of the above type which
will lend themselves, step by step, to
constructive intergroup action; devel-
opment of the necessary factual studies
of such problems, and agreement upon
recommendations to be made to the
cooperating agencies, both public and
private, looking toward solution of such
problems.
Several months of informal discus
sion and exchange of ideas among
leaders in the construction industries
preceded this first meeting of the COM
mittee. During this time plans were
lad for the organization of the confer
ence, the scope of its activities and its
method of operation.
The membership of the committee
includes men identified with the major
divisions of the construction field
general contractors and subcontractors
architects, engineers, producers and
distributors of building materials, &C.
ment, clay products. lumber, structural
steel, realtors, building and loan insti-
tutions. investment and mortgage bank
ers, insurance, utilities and railroads.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-20
STEEL OPERATIONS GAIN

NEW YORK. January 20 (P).-The
number of blast furnaces active in the
Chicago steel district has been increased
to Is with the blowing in of furnace
at the South Chicago works of the Illi-
nois Steel Co., United States Steel
Corporation subsidiary. There are So
furnaces in the district. United States
Steel now has 9 of 81 in the district
in operation, four each at Gary and
South Chicago and one at Joliet, Ill
Inland Steel has two in operation, Wis
consin Steel Co. and Youngstown Sheet
& Tube Co., one each.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-20

Continued on Page lAA
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-20

A1Noy BCNN ~ AAhSSAsoS~s
Washington Chapter. American Insti-
tute Of Banking, is taking registrations
this week. every afternoon, prepara-
tory to the opening Of the second
semester next Monday.
The Membership Committee meets
tonight at the chapter rooms at which
time j. Fred English will outline plans
for a drive to get new members for the
second half year.
Tomorrow evening the Banquet Com
naittee arranging for the Washington's
Birthday festivities win meet, Chairman
]. J. Roberts, presiding.
Thursday evening the educational
dinner will take place at the Shoreham
Hotel, attended by the Educational
Committee, consuls, officers, faculty and
board of governors, making gathering
OF about 80 chapter enthusiasts. Harold
j. Stonier, national officer, win address
the meeting.
Saturday afternoon the chapters
best bowlers win meet q team from
Continued on Fourteenth Page.)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-20
POTATO MARKET.

CHICAGO. January 20 up Omitted
States Department of Agriculture) -
Potatoes. 81; on track. 233; total United
States shipments. 612; steady: trading
slow: sacked per hundredweight, Wis
consin Round Whites, .45a1 so; mostly
50al.55; Minnesota Round Whites
1885: Idaho RusSets, No. /, 1.80al .95;
mostly 185a1.9 No. 2, 1.50a1 go.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-20
NEW YORK STOCK EXCHANGE
Received by Private Dhect o


Wire Direct to The Star Office.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-20
PARIS BOURSE PRICES.

PARIS, January 20 (P).-Trading was
dull on the BourSe today.
Three per cent rentes, sc francs 25
centimes. Five per cent loan, 102 francs
40 centimes. Exchange on London, 1913
francs SO centimes. The dollar was
quoted at 25 francs So centimes.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-20

Note-Al stocks sold in hundred-share lots
excepting those designated by the letter (80s) (250s)
which shows those stocks were sold in odd lots.
cnmniIed Edition
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-20
Money to Loan .

Secured by first deed Of trust on real estate
Prevailing interest and commission.
Joseph !. Weller 4 Bfds wash 9Th L F N'%t
The Washington times., 1931-02-26
AND IRON
DEMAND GAINS

PITTSBURGH, Feb. 26 GN.
S).-Although caution remains
the dominating note, the upward
trend of iron and steel demand,
while still gradual, has not been
checked, the Iron Age said today
in it's weekly summary of the
iron and steel trade.
Business from the automobile
industry has shown further i'm
provement, specifications for line
pipe, tin plate and track mater.
ials continue to increase, and re-
leases from miscellaneous con-
Stunning lines are in larger
volume.
Ingot output in the valleys
has increased from so to SIS per
cent of capacity, with smaller
gains at Chicago, Cleveland and
Birmingham. Steel ingot produc-
ton for the country at large is
estimated at So per cent, COM
pared with 81 per cent a week
ago.
Heavy melting scrap has ad-
vanced Csc a ton at Pittsburgh,
is stronger in tone at Chicago,
but has declined SOC at Detroit
and Csc a ton at st. Louis,
The Washington times., 1931-02-26
FIRE LOSS
IN ]. {. HEAVY

CHICAGO, Feb. 26.-An aver
age of $446,OOo,OOO a year has
gone up in smoke in the United
States in the last IS years, ac-
cording to a bulletin issued here
by the American Research Founda.
ton. 1t said:
"The amazing sum of S6,7OS.-
69S,799 has been lost through
fires in this country between
1916 and the end of 1880. The
1880 fire bill, estimated at
S465,942,S12, is nearly twice
that Of 1915, which tOtaIed
$25S,377,952.
"HOpe for q marked reduc.
tiOn in the nations fire loss in
the next Is years lies in the
adoption of flameprOOf build
ing material for private homes
as well as public buildings"
The Washington times., 1931-02-26
Real Estate Dealers See
Profits in Specially

Selling real estate has been no
sinecure here the past few years.
especially since the big market
crash 16 months ago. A surpris-
ingly large number Of install
ment home buyers were found to
have been carrying hot tip"
stocks on margins, in lieu Of
savings bank balances.
When the market "pinched
them out" they were hard put to
it to keep up their house pay.
ments, at best, and it required
only a touch of sickness, or other
hard luck to cause many to pass
their installment periods.
Dealers Garry Load
Real estate dealers generally
granted extensions and adopted
various expedients to carry their
patrons, but after all possible
was done a good many Of these
defaulted in their payments and
the dealers were compelled to
take back their properties with
equities in many cases practically
eaten up by trusts and carrying
charges. For the most, these
properties still remain in the
hands Of the dealers.
The Washington times., 1931-02-26

These are happy, therefore; to
see glimmer of hope for the
spring market, one of the factors
in which is the demolition of the
old Center Market, and the scat
tering of its traders to new loca-
tionS in the Southwest, Mid City
and Northeast. The shift of a
thousand or so market men and
their employees is expected of it.
self to create a demand for a
certain number of residences con-
veniently located for the new
locations.
Lure for Shops
But more than this, wherever
crowds congregate, as at a mar
ket, other businesses follow. Drug
stores, restaurants, tobacco shops
and others, seek locations where
they may draw the trade of mar
ket attaches and city buyers. Seed
stores, hardware stores, imple-
ment dealers and host of other
businesses are looking for the
farm trade.
Altogether, the new market de-
velopments are expected to pro-
vide the real estate dealers with
a field they can cultivate profit
ably for the next year Or two.
The Washington times., 1931-02-26
Chemists Honor
DR.. &. L. Parsons

DR.. Charle1 L. Parsons, of
Washington, internatio nally
known chemist, has been ap-
pointed business manager of the
American Chemical Society, it
announced today. DR.. Parsons is
the first incumbent Of this post,
created in the Society's reorgani,
zation. Recently the number of
directors was increased from 10
to IL, DR.. Charles L. Reese of
E. I. du Pont de Nemours &
Co, Wilmington, Del, having
been made chairman.
DR.. Parsons has been secretary
Of the society since 1907. He
was born in New Marlboro, Mass.
March %. 1867, and graduated
'~om Cornell in 1888 as a
achelor of science. He received
he degree of doctor of science
from the University Of Maine in
1911 and doctor Of chemistry
The Washington times., 1931-02-26
FEW At 65 HAVE
SAVED $4,000
ESTATE
Dividend Paying Endowment
Insurance Policy Is Urged
for Safety in Later Years
By FRANK F. LOOMS

Practically every young man
and young woman dreams Of
some day being able to step out
of the job" Some have dreams
of riches, others of travel, but
the majority of quiet retirement
to enjoy life for the balance of
their days.
And yet, it is well-known,
through Government statistics,
that 80 per cent or more of both
men and women in the United
States are dependent when they
reach the age of IS years. From
the Government census statistics,
arranged and prepared by the
president of the American Society
for Thrift, real danger is
pointed out in the American ten
dency to waStefulneSs during the
years from 16 to IS.
Few Accumulate $4,000
It seems that 66 out of every
100 persons dying in this country
have absolutely no estate; as per-
sons out of the 100 never accumu-
late more than $1,000 at age IS,
and die leaving less than that.
Only nine persons out of every
100 have an estate of $1,000 at
age. IS.
It is possible to attain degree
Of economic independence for re-
tirement purposes directly pro-
portionate to the ability to save
Systematically during the years
of earning capacity. Life in
Surance companies offer contracts
under which you not only secure
immediate protection for your
family, or beneficiaries, but also
a guaranteed income for your
self in later years, or in event
Of total disability.
The following figures show
what a dividend paying $4,000
policy will do for you under the
retirement income plan:
How Plan Works
It guarantees to you at age 65
a monthly income for life Of $100,
which assures return of at
least $4,000 and perhaps much
more, depending on how long you
live. Or, if you prefer, a cash
settlement, at age IS, Of $4,000.
It guarantees upon death from
any natural cause before age 65
a cash payment to your benefl-
ciary of $4,000, or $50 month
guaranteed for at least "a years
and six months, total of $14,823.
1t guarantees upon death re-
sulting from an accident before
age so a cash payment to your
beneficiary of $4,000, or $10o a
month guaranteed for at least
"a years and eight months, a
total of $29,646.
The Washington times., 1931-02-26
WORLD REPORTS
35,810,768
CARS USED
Automotive Industries Check
Shows More Than 9,000,-
600 Now Operated Abroad

PHILADELPHIA, Feb. 26.-De-
spite world economic depressions
and the numerous business recess
sions during the past year, world
motorization increaed 81 per
cent in 1885,, according to the
annual statistical issue of Auto
motive Industries.
On January /, 1881, a total
of 35,S1O.76S motor vehicles
were in operation in Africa,
America, Asia, Europe and
Oceania.
This figure, which was consid-
erably larger than had been ex.
pected, was compiled from hun
dreds of reports from all parts
Of the world, and brings the
operation and registration totals
up to the beginning Of the year.
France Leads in Gain
The United States contributed
only slightly to the increase of
registrations. France reflecting
brief period of prosperity dur.
ing a part of 1880, lead the
world in percentage OF gain. with
IN increase Of about $4,000 mo-
tor vehicles
The world. excluding the United
States, passed tie 100000 mark
fol- the first ll'ne, the returns
showing a tota: of 9,l19,319 mo-
tor vehicles registered and in
use. This increase was a gain
Of 70 per cent. ard, although
smaller than the 1929 increase
over 1928, showed the largest
replacement sales gain in history.
Business and financial condi-
tionS brought actual reduction in
the use of total number of ve-
hicles last year to only a few
territories. Increased operations
in the remainder of the world
far more than overcome losses.
Although materially reduced
from the phenomenally high rec.
ord of 1929, exports of automo-
tive products during 1880 from
the United States and Canada
reached valuation of $431,-
1883.
Exports of the larger-sized
trucks were the highest ever
reached. Shipments of many
items of replacement, service
equipment, tires, etc, were either
larger or equal to the exports
of 1928.
Above 10Year Average
Shipments and assemblies from
abroad reached 449,029 cars and
trucks last year, slightly above
the 1O-year average. Exports we're
approximately one-eighth of the
total production of United States
and Canadian plants.
The average value Of trucks
exported in 1880 was 1868, an
increase, in the face of depreS-
sion, of $95 over the 1929 aver
age of 1868. This same tendency
was noted in passenger car ship
mentS,
The Washington times., 1931-02-26
MEYER SWEEPS
SENATE VOTE

Eugene Meyer, jr., Of New
York, governor of the Federal
Reserve Board since last summer,
continued his duties today with
the knowledge he is secure in his
job.
The Senate confirmed his re-
cess appointment by an over
whelming vote that did not tell
the story Of the bitter fight
waged by a handful of Senators
led by Senator Brookhart (RD of
Iowa. The vote was 72 to II.
His confirmation eliminated
opposition voiced first by Rep
resentative McFadden R0 of
Pennsylvania. The nomination
had been once reported favorably
to the Senate when on a protest
by Brookhart that the McFadden
charges had not been heard, it
was recommited for further con-
Sideration.
Representative McFa d d e n
charged Meyers selection had
been dictated by the J. P. Morgan
interests; that he was a member
Of the international bankers
group, and had mismanaged the
War Finance Corporation and
the Federal Farm Loan Board.
The Washington times., 1931-02-26
SEASONAL
TRADE GAINS
SEEN YET
Research Expert Lists Facts
on Both Sides Of Business
and Draws This Conclusion
BY LEWIS HANEY
Director New York University Bureau
Of Business Research and Former
Economist Of Federal Trade


Director New York University Bureau
Of Business Research and Former
Economist Of Federal Trade
Commission
A frank and unbiased examina-
tion of the facts about business
in the past week gives the follow
ing results. Among the favorable
developments We find the fol
lowing:
The rebound in the stock
market has improved sentiment.
Cotton Goods Gain
2-Activity in the markets for
cotton goods has increased, and
even English .spinners are more
hopeful.
3-There Is growing assurance
that several important commodi-
ties have seen their lowest prices,
including cotton and copper.
4-Some improvement in build
ing activity is reported in certain
localities.
5-The consumption of electric
power is holding up well.
6-January cigarette produc-
ton showed a good gain over
December.
Tt now seems there will be
no extra session of Congress.
UnfavOrabIe News
The unfavorable news items
are as follows:
l. The general decline in COM
modify prices has continued.
2. The agricultural situation is
unrelieved.
3. Sales of automobiles con-
tinue backward, and production
is less than the usual seasonal
gains.
4, Steel production is rounding
off. The lettings of structural
steel have been very low.
5. January foreign trade fig
ures were the worst since the
war.
Retailing Dull
6. Retail trade reports for Feb
ruary thus far received do not
indicate as good a volume of
business as in January. Whole
sale trade also has shown some
let down.
Z. Railway car loadings gained
less than usual in January and
thus far in February suggest no
upward trend.
8. Business failures continue
very heavy, including many bank
failures.
Seasonal Recovery
Certainly any business recovery
thus far has been no more than
seasonal-probably somewhat less.
This is the more disappointing
in that Easter comes early this
year, and we should be beginning
to feel any impetus from the
usual pre-Easter trade.
The Washington times., 1931-02-26
NEW FINANCING
RATED HIGH

New corporate financing in
January established record for
high quality as compared with
any other month in recent years,
according to an analysis by
Moody's Investors Service. A rat
ing Of "A" or better is held by
92.5 per cent of the corporate
offerings last month, with only
49 per cent Of the total rated
per cent unrated.
In January, 1880, the "A"-or-
"Baa" or lower and but 2.6
better issues comprised 58.8 per
cent of the total, while in 1929
they represented only 1853 per
cent.
The aggregate of $536,988, 900
with the highest ratings in Janu-
ary contrasts with $412,983.0 900 in
the corresponding month of 1880,
and $162, 1865, ,460 in 1929.
Moody's regards this improved
quality as a significant factor in
the foundation for business re-
covery, particularly since it is
accompanied by an increase in
the productive character of the
financing. The aggregate of pro-
ductive issues in January was
1894, ,000, 900, or 66.8 per cent of
the total Qess refunding). In
January, 1890, productive financ-
ing amounted to 58.3 per cent Of
the total and in 1929 to only Ill
per cent,
The Washington times., 1931-02-26
CANADA LUR|NG
j. s. MONEY

MONTREAL, Feb. 26.-Invest-
ments of American capital in Can
ada have increased at the rate of
81, 100000 a year in the last II
years, according to a bulletin is
sued here by the department of
immigration and colonization of
the Canadian Pacific Railway. 1t
says:
''MOre than S1,669,OO in CAPT
tai from the United States has
been invested in commercial en-
terprises in the dominion in the
last IL years. Total American
investments in the dominion
amount to more than $685.
O75,13O, or 81 per cent of all the
capital from other countries in
vested in Canada.
"Other countries of the world
had $6,375,533,OOC invested in
Canada at the end of 1871, a
gain of S229,OOO,OOO over the
1929 total.
Compared to the pre-war to-
tails of 1913, the investment of
American capital in Canada has
practically trebled, whereas that
Of Great Britain has declined
about so per cent"
The Washington times., 1931-02-26
CURB STOCKS
ARE DOOMED

NEW YORK, Feb. 26 G.N.SD.
Selected utility issues were the
center of wild bullish demonstra-
tions as new and sweeping price
recovery got under way on the
Curb Market today, with a long
list of speculative leaders breaking
through into new high ground
for the year.
The maneuver was well planned
by the bullish forces, for just
as yesterdays decline appeared
to be making fresh headway
shortly after the opening this
morning, a sudden influx of buy
ing orders in pivotal favorites
not only reversed the trend in
short order, but so unnerved the
shorts that demand on a large
scale was encountered for other
stocks which were known to be
well sponsored.
Among the spectacular ad-
vances scored by utilities were
those of Empire Power preferred,
which jumped almost 18 points to
52B, and Associated Gas and
Electric common, which put on
speed to reach 81 for a 7,point
gain. More conservative advances
were the rule in the general run
OF leaders, with American Gas and
Electric up 2 at 8434; ConsoIi-
dated Gas Of Baltimore up 3, at
81; Electric Power and Light war
rants up 21s, at 357s; American
and Foreign Power warrants up
IA, at 30 Electric Bond and
Share up 13s, at so.
The Washington times., 1931-02-26

from the University of Pittsburgh
In 1914. He was awarded the
William H. Nichols Medal of the
New York section of the society
in 1904 for research on the
atomic weight of beryllium.
He is fellow of the American
Association for the Advancement
Of Science, an officer of the
French Legion of Honor and Of
the Crown of Italy. He has been
a frequent contributor to scien-
t1f1c journals and Government
publications.
AS business manager of the
society, which he has been largely
instrumental in building up, DR.
Parsons will administer the affairs
of the largest professional
organization of it's kind in the
world. The membership is ap-
proximately $4,000. and its budget
for 1881 about 100000.
The Washington times., 1931-02-26
BANKERS MUST
CLEAN HOUSE,
SAYS POLE
Otherwise Power to Remove
incompetent Officials by
U. S. Agency Is Demanded

Eight hundred bankers attend
ing sessions of the bank manage
ment conference at the Willard
Hotel, under the auspices Of the
American Bankers Association,
were warned by Comptroller Of the
Currency John w. Pole today:
eff the bankers fail by con-
certed action upon their own
initiative to cast out from their
midst those who would convert
banking to their own private
and selfish gain, to the detri-
ment Of the institution, there
will certainly be new legislation,
perhaps both State and ma
tiOnal for the removal of un.
sound management by govern
mental action"
Laws Still Lax
He said that while all banking
systems operate under specific
powers granted by legislative
action and are held accountable
for their operations by supervising
officials, holding the institutions
within the confines of the
statues, these laws are regulatory
only. He added:
"In the 10 years operation of
the national banking system,
Congress has not seen fit to
confer upon any executive
agency the power summarily to
remove from office bank Of
ficers who might be engaged in
practices inimical to the well
fare Of the bank"
Avoidance Of Losses
A sound banking policy as out
lined by w. Walter Wilson. of
Milton, Pa, president of the Penn
sylvania Bankers Association, in.
wolves avoidance of losses, liquid
ity of assets and earning of
profits. He said:
Bankers must learn to say
'no" if they are to guard the
rights of depOsitOrS. They
should exchange credit infOr-
nation and should stop dupIi-
cate borrowings.
Deplorable failures in recent
years, he said, had been found in
many instances to be due to lack
Of a sound loan policy.
d. C. Banker Talks
Frederick P. H. Siddons, secre-
tary of the American Security
and Trust Company. of Wash
ington, spoke on Safeguarding
Collateral Loans"
The session this afternoon was
devoted to the protected Bank, "
and tonight it will be the Profit
able Bank" The last session to-
morrow morning will study the
Practical Bank"
The Washington times., 1931-02-26
Foreign Commerce
Gains Are Reported

A few indicators of recovery
from the depression were con-
tanned in cable reports to the Com
merce Department.
Manufacturers in Canada were
said to be acquiring more conf
6ence, there we're seasonal gains
in trading in Japan, good crops in
India and French Indo-China and
satisfactory progress in British
Malayan business.
The Washington times., 1931-02-26
Steel Makers Plan
To Mnintnin Prices

YOUNGSTOWN, Feb. 26.-Al-
though price announcements for
the second quarter have been
withheld by leading steel pro-
ducers in this district, it is under
stood that the industry will con-
tinue the present minimum price
level and discontinue all conces-
sionS.
Builders of road machinery are
ordering steel bars and shapes in
large volume and one fabricator
in the district is doing prelimi-
nary work in manufacturing
brake drums for an automobile
ompany manufacturing a
medium priced car.