davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-10-28
Telephone Company Lists
Many Gains in D. C.:

Quoting taxes and uncollectible,
for the first nine months Of this
year amounted to $1,713,272, as
compared with $1,545,637 for a
similar period In 1880.
Balance net income in Septem-
ber was $186,764. Balance net
income for the nine months end
ing September 80 amounted to
$1,412,501. as compared with
$902,6S7 for the first nine months
of 1890.
Taxes in September were $751;
624. Taxes for the first nine
months of the year amounted TO
$5O7. 1888, as compared with $415,.
963 for the first nine months Of
last year. ~.
Capital expenditures for new
plant and equipment added to
the company's system in the Dis
trict of Columbia for the nine
months ending September 80
amounted to $1,655,774. Gross re-
tirements during this period were
$946,41S, making net additions
for the nine months $709 ,359. Net
additions to plant for the IL
months ending September 30
were 4046,O8 .
The Washington times., 1931-10-28

Telephone operating revenues
of the Chesapeake and Potomac
Telephone Company for Sep
tember amounted to $750,599, the
report of operation just filed
with the Public Utilities Com
mission Of the District of Co
lumbia shows. The total operat-
ing income after deducting taxes
and uncollectible was $204,937.
Washington. was served by 174,-
785 telephones at the close OF
business September 80. This was
a net gain of 6,3O5 since Janu-
ary /. In September, telephone
users made about 17,O55, 900 calls.
(Which was an increase of 9.3
per cent over the number made
during the same month last year.
This additional business has re-
quired an increase in the number
of telephone employees in recent
months.
Telephone operating revenues
for the nine months ending Sep
tember 80, amounted to $685.
633, as compared with $6,396,889
for the same period last year.
Total operating income. after de-
The Washington times., 1931-10-28
GAS FIRM s NET
IS DOUBLED

The September operations filed
with the Public Utilities Commis-
sion yesterday by the Washing
ton and Georgetown Gas Light
companies show the former
earned a net income of $685..
1892, as compared with S32,-
15O.75 in September, 1880. Net
income for nine months totals
$S42,11S.46, as against $612,S22.69
for the corresponding period last
year.
Net corporate income of the
Georgetown company in Septem-
ber amounted to ,$7,599.96, as
contrasted with $9,5S9.s3 in the
month last year.
That for the nine months is
$94,091.83, a decline from $l32,-
442.72 in the similar comparative
period a year ago.
The Washington times., 1931-10-28

determine whether a uniformly
upward movement in steel book
ings and operations can be ex-
pected within the near future.
Gains in Orders
Moderate gains in orders for
bars, sheets, wire products, tin
plate, rails, and track supplies
are offset by declining require
ments in structural steel, plates
and pipe, with the net result
slightly favorable for some mills
and districts.
The review adds that steel
operations have expanded a little
at Pittsburgh, Youngstown, and
Birmingham, but are virtually sta
tionary at Chicago, Cleveland,
and elsewhere.
For the country, as a whole,
the ingot production rate may be
measured at 20 per cent Of ca
pacity, compared with % per
cent a week ago, the smallness
of the gain reflecting the con-
tinued curb on buying.
Pig and Scrap Low
The automobile industry has
been going forward on its new
production schedules more slowly
than expected, and some steel
orders looked for this month will
not be placed until November.
New low levels for pig iron and
steel scrap are recorded in the
Iron Age composite prices, pig
iron having declined to SIS, the
lowest level since october. 1915.
The Washington times., 1931-10-28
j UNDERWRITERS
To HONOR ID

Ten local life insurance men
writer's who have attained the
highest degree awarded in the pro-
fession, that of Chartered Life Un-
derwriter, will be guests at the
luncheon meeting Of the District
of Columbia Life Underwriters AS
sociation tomorrow at the Carl
ton Hotel. President David S. Be-
thune will preside.
Those who have received the
C. L. U. degree are M. C. Burrell,
H. L. Choat, Carl Smith Dow, H.
c. Fisher. James A. DeForce, Jo-
Seph A Mari, Frank D.. Roach,
Earle w. Sapp, Dwight T. Scott,
and Paul D. Sleeper.
Short talks will be made by
Earle D. Sapp on "The c. L. U.
Movement" Carl Smith Dow on
How to Prepare for the C. L. U.
Designation" and Joseph A. Marr
on What the c. L. U. Designa-
ton Means to the Man in the
Field"
The Washington times., 1931-10-28
IN GRAIN
LAID TO THREE
TRADERS
Jesse Eivermore in New York
and Cutten and Howell in
Chicago, BuIHng Markets

The recent bulge in wheat
prices is laid largely to the opera
tions of three big traders and their
associates.
While Jesse L. Livermore has
been an extensive purchaser as
the head of a strong New York
syndicate, Arthur w. Cutten has
been similarly active, with Chi
cago as the base of his operations.
The third large operator,
Thomas M. Howell, whose July
corn squeeze netted him $1,000,-
600, while not holding as big a
position on the long side, has
been trading from day to day on
the constructive side which has
resulted in wheat values.
Further Rise Expected
Although some observers have
been predicting 81 wheat before
the present crop year is rounded
out, StatiSticians for the more inn
portant market interests have in.
dicated that IS cents, or about Is
cents above current levels, might
be a reasonable figure.
The coincident operations Of
Livermore and Cutten at this
time recall the market episode
of the spring of 1925, in which
both of these operators were in.
volved.
With wheat selling around
$1.04, Livermore became a sub
stantial buyer. At the same time,
in a smaller way, Cutten re-en-
tered the grain pit as a pur.
chaser. Wheat scared over the
50 mark.
Cutten Hit in 1925 Deal
On March 13, 1925, with Cut
ten away on a two-day automo-
bile trip and with over 100000
bushels. of wheat in Chicago
warehouses belonging to him, rep
reSenting profits up to So, heavy
selling orders from Palm Beach,
where Livermore was staying,
flooded the market. Wheat was
hammered down 16 cents before
night.
At the same time, Howell, who
had been periodically unsuccesS.
fully fighting the advance, again
took the selling side. Wheat
broke to $3.50 on the move, and
after a halt, declined farther to
81 SO.
The Washington times., 1931-10-28
pennsylvania
TUMBLES To
NEW Low
New York Central Follows
Suit and U. S. Steel Drops
To SIS as Entire List Says
Rn w. S. COUSINS

NEW YORK, Oct. 28 U.NS).
All sections of the market
dropped off to lower price levels
today behind a sharp and per,
sistent selling wave which flowed
from the opening bell.
Losses in the speculative favor
ties ranged up to points. New
York Central and Pennsylvania
broke through to new low price
levels, while Union Pacific, a
large holder of other rail shares,
dropped back 6 points to 100.
Atchison lost 312 points.
United States Steel was under
pressure and fell off 2A points
to IS. American Tel. and Tel.
lost 3 points at 13434. Consoli-
dated Gas, at the head of the
utilities, reacted 214 to 10, and
j. I. Case lost about 2 points at
48A. Auburn Auto, leading the
activity in the high-priced special
ties, sold off 61a points at 11S.
The prospect of a dividend cut
for Pennsylvania Railroad later
in the day and the unfavorable
third-quarter earnings report for
United States Steel Corporation
unsettled the market, accounting
largely for the outpouring of sell
ing.
British election results pointed
TO the probability of higher tariff
walls against imports Of all kinds.
Big Earnings Drop
New York Central's decline to a
record low price of 40 accom-
panied the September income re-
port showing net earnings last
month of $2,183,913, against
$5,615,570 in the corresponding
month of last year. Later in the
period the stock fell off to 1875.
Pennsylvania dipped under the
low price of 297s recorded for that
stock in the early october reac-
ton, and New Haven fell back
about 21a points.
The Washington times., 1931-10-28
\. AMERICAN CD.
EARN|NGSOF

The statement of the North
American Co. and subsidiaries,
including Washington Railway
& Electric Co. and Potomac
Electric Power Co, for, the IL
months ended September 80,
shows $23,390,187 for common
stock after all operating expenses,
interest charges, depreciation re-
serves and preferred dividends,
This is a decrease of 1886 per
cent from the IL months ended
September 80. 1890, and is equal
to 1884 per share on the average
number of shares of North Amer
ican common stock outstanding,
compared with $4.S1 per share
for the corresponding period end
ing in 1890.
Appropriations for depreciation
reserves equal 1882 per cent
Of gross earnings for IL months
ended September 30, 1881, COM
pared with 1889 per cent for the
1890 corresponding period,
The Washington times., 1931-10-28
French Tax Receipts
Exceed BUdget Total

French tax receipts during the
first half of the 1931-1932 fiscal
year amounted to 21,718,000, 600
francs, exceeding the budget esti-
mates by 262, 900, 900 francs, the
Commerce Department has been
advised in a cablegram from the
Paris office.
These receipts, however, were
$4,000, 900 francs less than for
the first half Of the preceding
year. Unemployment was said to
be increasing in France.
The Washington times., 1931-10-28
HERCULES NET S1,os7,s

Net profit of $1,OS7, 1856 for the
nine-month period ending Sep
tember 30, 1891 is reported by
Hercules Powder Company. After
payment of regular preferred div
idends there is available for the
period $0.81 per share on COG, ,234
no par common shares. Gross
receipts were $15,523,274 as
against $20,416,664 for the first
nine months of 1880 when earn
ings were $3.50 per common
share.
The Washington times., 1931-10-28
IRON ACE FINDS
PROSPECTS
BETTER
Moderate Gains in Orders in
Many Lines and Output Rate
Is Up | Per Cent Over Week

NEW YORK. Oct. 2S dN.SO.
Reports from metal-consuming In
duStries are a trifle more en-
couraging this week, but there
are contrary trends in the de-
mands for various forms OF steel.
the weekly Iron Age summary, TO
be released tomorrow, points out.
1t is accordingly difficult to
The Washington times., 1931-10-28
st. Paul Farm Sales
In 56 Per Cent JII11D

The Federal Land Bank of st.
Paul sold 56 per cent more farms
during the first nine months of
1881 than during the correspond
ing period of 1880. SO per cent
more than during the like 1929
period, and 1855 per cent more
than in 1928.
So far this year the bank has
made 673 loans for $2,556,800.
This compares with sos loans for
$2,510,00O for the corresponding
period last year.
The Washington times., 1931-10-28
Business Machines
Net Income Higher

Report of International BuSl-
ness Machines Corporation, in
cluding foreign subsidiaries, for
nine months ended September 80,
1881, shows net income of $5,629,-
125 after interest, reserves, de-
probation and estimated Federal
taxes, equivalent to $S.40 a share
on 669, 1852 shares Of no-par capital
stock.
This compares with $5,474,426,
or $3.50 a share on 637 1854 shares
in first nine months Of previous
year.
The Washington times., 1931-10-28
Philadelphia Bonds
Are Bid For At Par

Two bids totaling $2,500. 800
were received by the city of Phila-
delphia on its offering of $15,OOO,-
900 50-year bonds at a ~ per
cent. Az per cent or 4A per cent
rate.
Commissioners of the. sinking
fund Of the city bid par for
50, 100000 424s, and the Harmony
Royal Chapter bid par for $500
4AS.
The Washington times., 1931-10-28
Extra Dividend Paid
BU Penick and Ford

Penick & Ford, Ltd, declared
an extra dividend of so cents in
addition to the regular quarterly
dividend of IS cents, both pay
able December IA to stock of re-
cord November 80.
For nine months ended Septem-
: 80, 1881, profit before federal
taxes amounted to $840,355,
against $1,404,237 in first nine
months Of 1880.
The Washington times., 1931-10-28
British Wire, Cable
Service ShOlUs DrOD

September traffic receipts of
Imperial and International Com
munications, Ltd. were &410,216,
compared with f424,138 in Sep
tember last year. a decrease of
El3,922.
For nine months ended Septem-
ber 30, 1881, traffic receipts
amounted to E3,506,265.
The Washington times., 1931-10-28
SEPTEMBER RAIL NET

The first 81 railroads to report
September earnings had net oper-
ating income amounting to $685.
O44, 900, compared with $40, ,379, 200
in the like month last year, de-
crease Of 1872 per cent, and COM
pared with $50, ,233 900 in the cor
responding month in 1929, q de-
cline Of 51.8 per cent. In August
this year their net operating in
come totaled $25, 1872, 900, against
$44,881 900 in the similar month
last year, a reduction of 42.3 per
cent.
The Washington times., 1931-10-28
WASHINGTON TIMES

BUSINESS 0FFlC@. 1877 r ST. n. ".
RATES DELIVERED By CARRIER IN
WASHINGTON AND ALEXANDRIA
The Washington Times daily IL de-
Iivered by carrier At 10 cents DER week.
Daily Times and Sunday Herald. Is cents
per week: daily Times and Herald daily
80 cents per week: daily Times and
Herald daily and Sunday. % csntS per
week. o.. -.-
sunday. IL delivered By carrier at Is
cents per week; daily only. 10 cents per
week. and Sunday only. 10 cents Per
week.
Orders can bo sent By mail or teIs-
weekly BY carrier, ,
RATES By MAIL
The Washington times., 1931-10-28
Baltimore and Ohio
Net ReDenUe DROPS

The Baltimore and Ohio Rail-
road Company reports a net op-
Grating income of $3,517,4l3 in
September, decrease of $95S, ,259
from that of the month last year.
For the first nine months Of
1881 it is $20,216,719, a drop Of
$10,104,113 from that of the first
nine months of 1880.
The Washington times., 1931-10-28
EVANS IMPROVING

President Joshua Evans, jr., Of
the District National Bank, who
has been at George washington
University Hospital following an
operation, has returned to his
home and is expected to resume
his duties at the bank shortly.
The Washington times., 1931-10-28

for 20 weeks ended October 8,
1881, profit of $9,350,760, after
charges, but before Federal taxes,
comparing with profit of $685.
S29 in corresponding period of
previous year.
Merchandise inventories are ap-
proximately $12,000,000 lower
than they were at the same time
last year, and notes payable
$4,000, 900 less than last year.
The Washington times., 1931-10-28
Bids and Proposals

SEALED PROPOSALS will be received at
,.t the p PURCHASE Section, Bureau Of stand
November 20 1881. and then publicly
opened for furnishing radio transmitting
% cations may be USai Obtained d. at TT Purchase % Sec
ton. Bureau of Standards deposit Of
$40 will be required to insure the return
of the blueprints and specifications.
Limit one set to each bidder.
The Washington times., 1931-10-28
WASHINGTON STOCK EXCHANGE
SALES
Lanston Monotype, 6@76.
AFTER CALL

Capital Traction Co., 12@24a.
American Security & Trust Co.,
10000.
Washington Railway and Elec-
trio pfd, 1O@94, 10@94.
Washington Railway and Elec-
trio As, $1,0O0@8512, $1,00O@85k.
Mergenthaler Linotype, 1906.
Lanston Monotype, 9@76.
Washington Railway and Elec-
trio As, $1,O00@85h, $1,OO0@851a,
$1,000@851a.
The Washington times., 1931-10-28
Good Pickings
From News

Washington Gas Company
September net doubled.
international Business Ma
chimes, profit up.
Extra dividend declared by
Penick and Ford.
World consuming IA per
cent more u. s. cotton.
st. Paul farm sales jump
IS per cent.
The Washington times., 1931-10-28
w S
In TodayS
CLASSIFIED ADS

ROOM ,... FOR RENTEBsI%Snt IT, belmont 81. st..
nished front lOOm next to bath
continuous hot water
private family.
APARTMENT FOR RENT-cOIO-
RADIO Ave. d. between 18th and
18th StsS large or 4 rooms,
kitchen and bath apartments now
available free refrigeration
very moderate rental.
BUNGALOWS FOR RENT-Four to
six room comp ctely modern buDga-
lows for rent for as low as $50
per month See them today.
LANGUAGES TAUGHT-ThOyOuEhIy
competent teachers Of French,
spanish and English desirOus Of
having Individual pupils also
class instruction Governments
examinations call for an APP
pOiDtment reasonable rates.
USED CAR FOR sALE-stude-
baker 7-pass"Uger sport touring.
1928 model tires almost new
we'll tenders , a reag
bargain at emily 1915. =.
FURNITURE REPAIREr ii kinds
of furniture repaired . chairs
caned uphOIstering "A speciality
most reasonable rates In the
city Give as q call, estimates
given cheerfuIly.
These are 'rstdeli0hts'' on some Of gaant
lterestiR0 0dvsrtise1neRts VoW s0AI ftNd u
odGy'S Classified Ads,
The Washington times., 1931-10-28

Public Utility Bonds Bid | Ask
Amer Tel & Tel 4las.. .l117Al....
Am Tel & Tel C't'l Tr 5s IlO2A ...
Anacostia & Pot r 5s. 6S SO
Ana & Pot Guar IS ..... 90 96
c & Tel OF Va 5s ilOl sllO5
Cap Traction r r SIS 80. "a 70
City Suburban 5s ... 81 10
Georgetown Gas 1st 5s ,l1O1 t..
Potomac Elec Cons 5s. .l1O1L l1O3
Potomac Elec IS 1858. .I1O7
Wash Alex & Mt ' eff 2
Washington Gas 4hs,I 97nl 90
Washington Gas 5s....... .l10O l1O1
wash Gas Is series A 80. .I1O0 l1O1
Wash Gas S. series. . "a. .IlO2 I100
wash Ry 4 Flee 4S.s~an.sI SEh 90
The Washington times., 1931-10-28
ROEBUCK
HEAD HERE. VI

Robert E. Wood, president of
Sears -Roebuck & Co., is a visitor
here today and is inspecting the
Company's local store.
Sears, Roebuck & Co. reports
The Washington times., 1931-10-27
S64,385,339LET
IN BUILDING

s Contracts for building projects
amounting to $64,3S5, $3.50 were
awarded during the past week,
the Presidents organization on
unemployment relief announced
yesterday.
OF this amount, $40, ,87O,872 will
be spent on state highways. The
balance will go for public build
ings, schools, hospitals, bridges,
river and harbor work and other
projects In Is States.
The total Of such contracts
awarded In the past ten months
is $2,6S5, 1882, 500:
Wisconsin led all other States
in highway contracts, the amount
to be spent on roads in that State
being $6,953,547, Other, States
spending a million dollars or more
on roads were Washington, ST.
O61,O12; Texas, $3,053,05O; New
York, $4.248,284; Maryland, ST.
203 .246; Massachusetts,, $1,331,-
sos: Georgia, $l,242,OOO; Illinois,
81, 1876, 900.
The new dirigible hangar at
Sunnyvale, Calf. will cost ST.
1850 Waterworks improve,
ments at Lincoln, Neb., will cost
$l,52O,437. Syracuse, N. Y, let a
contract for a new $1,OOO,000 high
school, and a vocational school
on Staten Island will cost $1,1OO,-
900.
The Washington times., 1931-10-27
Reserue System Report
Sho1us Big Loan Drop

100000 at all reporting banks,
and increased $8,000,000 In the
Chicago district.
Holding of United States Gov.
ernment securities declined $42,'
100000 in the New York district
and $41,000.000 at all reporting
banks, and increased 100000
in the San Francisco district.
Holdings of other securities de-
clined $16,O00,00O in the New
York district and $32,000,0O0 at
all reporting banks.
Borrowings of weekly reporting
member banks from Federal
Reserve banks aggregated $45l,-
000, 900 on October 81, the .prin-
cipal changes for the week Eeing
decrease of $46,00O,O0O at the
Federal Reserve Bank Of New
York and increases of $27, ,OO0, 900
at San Francisco, $l9, 200, 900 at
Chicago, $4,000, 900 at Cleveland,
100000 at Richmond and &c.
00O, 1000 at Atlanta.
The Washington times., 1931-10-27
LlOyds Pays Bank
2 Million of Theft

CHICAGO, oct. 81 G.N.S0.
The Continental Illinois Bank
and Trust Company has re-
ceived a check for $4,000, 600
from Lloyds of London to cover
in part the So, $50, ,939 defalcations
of Walter Wolf, former coupon
teller.
Wolf Is now serving a term
Of from 10 to 100 years at Joliet
state prison. The banks actual
loss at present is $925,66 as in
addition to the payment by
Lloyds, cash and securities
amounting to $74l,274 have been
recovered.
The Washington times., 1931-10-27
RUSSIANS SELL
CHINA WHEAT

Entry of the Soviet into the
Shanghai wheat market is an
unexpected and depressing factor,
according to the Department of
Agriculture.
This first became known when
the department heard that six
shiploadS of this wheat had been
sold at AZ cents a bushel. It
was reported that additional
quantities might be purchased if
the. early shipments are salts
factory. The department was un-
able to estimate the quantity of
wheat contained In the six ship.
loads.
The price of AZ cents COM
pares with 48 cents for Chinese
wheat, 81 cents for West Aus
tralia wheat, so cents for New
South Wales wheat, Sc cents for
Western white No. 2 American,
and SO cents for Manitoba No. 8.
The Washington times., 1931-10-27
MARKET AWAITS
STEEL AND RAIL
MEETINGS
Reaction Yesterday Is Logical
Temporary LetdoWn, Says
Spectator, Pending Report
BY THE SPECTATOR

NEW YORK, Oct. 27.-SponsorS
Of the current market upturn ap.
parently felt that 1t would be q
waste Of valuable ammunition to
attempt to bid up prices pending
the disposal Of several important
dividend meetings this week.
Therefore yesterdays reaction
could be regarded as the logical
sequence Of a temporary let-down
In policy.
Steel Report Today
The U. s. Steel meeting will be
awaited with interest late today.
followed by that of Pennsylvania
and Bethlehem Steel on the two
succeeding days.
Unless the action of any Of
these companies is better than ex-
pected, little in the way Of de-
cisive price trend should be ex.
pected until all uncertainties have
been removed.
While certain observers have
held that the markets advance
this month has been somewhat
tOO 1dplU LUZ JGS OWA SOONs VAAIC
opinion is hardly substantiated
by facts.
Normal Bottom
From the october 5 low Of IS "
to the peak Of 1l0h reached last
Saturday. the Dow-JoneS indus
trial averages have recovered ap-
proximately 29h per cent Of the
decline immediately preceding.
A recovery Of roughly so per
cent would be more nearly normal
and so it can readily be seen that
from the technical side. the mar.
ket has still considerable distance
10 60 on the upside before opposi.
ton on this point should be
brought into play.
A survey released by promi-
I1ent statistical service points out
that during the past two years
the market has cancelled every
thing but normal progress.
The Washington times., 1931-10-27
COTTON TREND
|SDOWNWARD

NEW YORK. Oct. q G.NSO.
The cotton market continued to
work slightly lower in today's
trading, although a better grade
of support was in evidence than
noted in yesterdays setback.
Most Of the selling consisted
of hedge sales which were alb
sorbed by the trade on a scale
down basis. There was also scat
tered selling from Liverpool and
the Continent. Wall Street and
commission firms bought distant
months, with buying of May and
July credited to professionals.
After the initial dealings, the
volume Of hedge selling dimin-
ished for a time.
Declines at midday ranged
from 5 to z points with Decem-
Der off S at 6.54, January off
2 at 6.63, March off s at 6.70.
May off 5 at 6.o7, and July off
5 at tbs.
The Washington times., 1931-10-27

The Federal Reserve Boards
condition statement Of weekly
reporting member banks in lead
ing cities on October a, issued
yesterday, shows decreases for the
week of $212,000,000 in loans
and investments, $6G,000.000 in
net demand deposits, $4,000, 900
in time deposits and sos, 900, 900
in Government deposits, and in
creases of $68, 900 in reserves
with Federal Reserve banks and
$37, 100000 in borrowings from
Federal Reserve banks.
Loans on securities declined
$1O3, ZOO, 600 at reporting banks in
the New York district and $685.
100000 at all reporting banks,
and increased $11,0OO,O0O in the
Boston district. "All other" loans
declined $29, 1000, 900 in the New
York district, 100000 in the
Philadelphia district, $4,000, 600 in
the Cleveland district and $44.-