davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-04-14
UPWARD TREND
IS SEEM FOR
MARKET
Constructive Interests Again
Appear to Be in Control and
Temporary Gains Are Hoped
BY THE SPECTATOR

NEW YORK, April 14.-From
all outward indications, the stock
market again appears to be in
control of constructive interests
and the chances favor a continue.
ton Of the upward trend, tempo
rarily at least.
Despite the fact that the
volume of turnover on Monday
did not show any appreciable in.
crease, the net advance was the
broadeSt in weeks. The Dow.
Jones industrial average showed
a gain Of more than three points,
while the Standard Statistics
Index of 90 composite stocks was
up slightly more than two points.
Rails Show Up Better
Even the rails are beginning to
show up in an improved light,
with these averages able to re.
port some progress now for the
third consecutive day.
However, one development of
the days trading carries more
than ordinary significance. That
is, the markets passing over the
sharp slump in Vanadium with
hardly a Quiver. 1t was not long
ago that it was almost daily oc-
currence for the bear faction to
concentrate their efforts on one
or two vulnerable issues in order
to unsettle the list as a whole.
If the market situation has
changed to an extent whereby in.
dividual sore spots can be ef.
fectively overlooked. then 1t is
hardly to be doubted that good
many stocks have seen their de-
preston period lows.
Business 10 Per Cent Better
Seen from the eyes of well.in-
formed observers, the current
levels of stocks but slightly above
their support levels of December,
1880, compare with a business sit
uation that may be summed up
as being 10 per cent better than
it was when these lows were pre-
viously made. While it is more
than likely that the market trend
will not change appreciably for
several weeks, it is becoming
more and more apparent that the
upper levels of a buying range
have been reached.
The time for slow and gradual
accumulation of selected stocks
for the long pull is at hand, and
in the opinion of . growing mum.
ber of conservative quarters Sc
Iected commitments will work out
prOfitably in time.
The Washington times., 1931-04-14
COPPERDEMAND
IMPROVING

Copper demand is improved,
and with better handling Of the
custom smelter problem it is not
improbable that price will ad-
vance to 10 cents a pound deliv-
cred next week. The amount Of
copper available under 10 cents Q
pound appears to be small.
While copper buying is better
in volume 1t is still small compara-
lively speaking. OF course the
real change in copper is awaiting
a radical improvement in world
consumption. However, with un-
employment less in Germany and
Great Britain, it is not impossible
that foreign consumption may in
the next few weeks begin to show
improvement.
Electrolytic copper for domestic
shipment is ga cents a pound de-
livered to end of July. European
destinations are at levels CORE
spending with 1890 cents Q. 1. (.
Hamburg, HaVre and London.
The Washington times., 1931-04-14
STORE PROFITS
GUT IN 1881

Merchants profits in 1880 de-
creased by SO per cent from 1929,
according to a compilation made
by the Alexander Hamilton 1nsti'
tute from the annual reports Of
"a companies engaged in mer'
chandising. In 1880 these com.
panies reported a total net profit,
after taxes, of $136, ,904,0 900, COM
pared with $213,648,0O0 the year
before. Twelve reported deficits,
and IL reported greater profits
than in 1929, while 10 reported
smaller profits.
The average Of nine wholesale
companies showed a decline Of
100 per cent. Four mail order
companies operating chain stores
showed a decrease in profits Of
rs per cent. Twsnty-three de-
partment stores, including the
Marshall Field wholesale business
and five department store groups,
reported an average decrease Of
A per cent.
Thirteen chain ready.to-wear
and department stores showed an
average decline in profit Of 20
per cent.
Eleven chains in the 5c.$1 field
reported decreased profits of IL
per cent, with w. T. Grant the
only company to show an in
crease, approximately 10 per cent.
Twelve chain store grocery COM
panies made an average decline
of 33 per cent, with National
Tea, Grand Union and Reeves re-
porting greater profits than in
1929.
The eight restaurant chains
made the best showing of any
group, with but 3 per cent de-
cline in profits.
The Washington times., 1931-04-14
RUBBER
USE CLIMBS

Consumption of crude rubber
by manufacturers in the United
States in March is estimated to
be 32,7Ss long tons, an increase
Of 1879 per cent over the Feb
ruary consumption of 28.797 long
tons, according to statistics COM
piled by the Rubber Manutac-
turers Association.
Imports Of crude rubber for
March amounted to 40,S3S long
tons as compared with 36.64S
long tons for February and As, 43O
long tons for March, 1880.
The association estimates total
domestic stocks Of crude rubber
on hand and in transit overland
on March 81 at 217, ,804 long tons,
an increase of 2.3 per cent over
February, and $50 per cent over
March, 1880.
Crude rubber afloat for United
States ports on March 81 Is estl-
mated at 63,133 long tons as
against $3.50 long tons on Feb
ruary % and 63,646 long tons on
March 81 q year ago.
The Washington times., 1931-04-14
SAVINGS BANKS
GAIN IN n, Y.

Deposits in the savings banks
Of New York State increased $751;
500, 900 in the first three months
Of this year, making a total of
$4,95S, ,7S5, 152 a new high record.
This increase was greater than
that Of any previous quarter and
was more than the advance
shown in any full year prior to
1890.
In the first quarter Of 1890
savings deposits rose sos 900
and during the first quarter of
1929 $14,550, 900, while the gain
for 1880 was $21O.134,0OO.
The Savings Bank Association
of the State of New York, which
made public these figures, said
the increased favor accorded
savings banks recently is strik-
ingly displayed by the increase in
deDoSitOrS,
The Washington times., 1931-04-14
Probe In Cotton Seed
Industry Resumes
Tomorrow

Examination Of witnesses in
the Federal Trade Commissions s
investigation Of cotton seed
prices in the South, will be re-
Sumed Wednesday in New Or
leans, following adjournment
last week at Jackson, Miss.
Witnesses scheduled to appear
at the hearings, are A. D.
Geoghegan, president Southern
Oil Company; C. D. Jordan, vice
president Southern Cotton Oil
Company: L. K. Virgins, South.
ern Cotton Oil Company, and j.
w. George, chairman, committee
on cottonseed and cotCOnSeed
products New Orleans Cotton
Exchange.
The Washington times., 1931-04-14
SHORTS CAUGHT
IN RISE FROM
OVERNIGHT
Rails and Utilities in Little
HeadWay, as Professionals
Later Enter Selling Arena
BY w. S. COUSINS

NEW YORK, April 140N.S).
Mondays closing rally in the in
dustrial favorites was carried into
the first period today and prices
in all sections of the market
pushed through to higher levels.
Crowding of the shorts in a few
Of the active shares resulted in
an overnight rise of to 3 points,
with Johns Manville in the lime
light.
The rails and utilities went
into higher price ground at the
opening, but we're unable to fol-
low through to any extent.
Watch Bethlehem
Speculative interest centered
largely on Bethlehem Steel, in
view of the STOCKHOLDERS annual
meeting at noon in Newark.
Prior to the meeting the long
awaited decision of the Chancery
Court relative to the stockhold-
erS' suit against the officers
bonus was rendered.
It restrained the stockholders
from ratifying , the operation Of
the bonus plan, an dperrnitted q
vote on the question, the result
of which may not be announced
until sanctioned by the court.
The stock was in good demand
above SO. up fractionally, in the
early trading, but eased off with
the rest of the market in the
second hour.
Johns Manville jumped ahead
SA points to 81, and Auburn Auto
repeated its almost daily perform
ance of chalking UP a new high
record. Today's best price was
295h, up 4 points for the day
1S points above the price of 1011a,
recorded on January IA.
The Washington times., 1931-04-14
CHICAGO LIVESTOCK

Rsceipts, is,6So 5S;" market "a N'S stesdyi .MHf fce
lower. Top, 27.S5; bulk. SS25@7so:
heavy. weight, tS.s5@72S: medium
weight .t7,1O@7.75 light weight, s7sS
ing sows, 1s0S.5O; pigs, I7.2667.76.
Holdovers g. 900.
Cattle - Receipts, 5000; market
steady. Cslves-Receipts 5000; mar
ket steady. Beef steers-Good and
choice. $9010: common and medium.
S66S.5o: yearlinEs. $66S,75. Butcher
cattle-Heifers. &56R5O; cows, $500
S.25; bulls, $4QS5O: calves, &sd6;
feeder steers S5@B.25 stocker steers
!5gS2S; stocker cows and heifers'
sheep Receipts $4,000; market
steady, 2Sc lower. Medium and choice
lambs, S999.75; culls and common
Fas5O; yearlings. s76ods5o; com
mon. and choice ewes, 81 q $50; feeder
lambA S7@s.26
The Washington times., 1931-04-14
II. Kenneth Murray
Takes NeU Position

Hemphill, Noyes q Co., mem,
bers New York Stock Exchange,
announce the addition to it's
Washington office of H. Kenneth
Murray, who will be identified
with the stock department.
Mr.. Murray, a native of Chi
cago, has been living here a
number Of years and is well
known in the local financial dis
trict.
He is a graduate of Georgetown
University.
The Washington times., 1931-04-14

7s:'S;''f =: =! ds.; e ! $. So: 0 &C.:
C 4 p Tel of Va bs.ss... l0S ..s.s
The Washington times., 1931-04-14

Amer Sec 4 Tr Co .......... 330 5S0
Continental Trust ..,........ 11S Has
The Washington times., 1931-04-14
WASHINGTON STOCK EXCHANGE
SALES

SALES
Capital Traction SIS, $4,000
761a, $l.OOo@76h; $2,OOO@761a,
$1,OO0@761a, $500@7eH.
Washington Gas IS, $1,000
1O2A, $1,OOO@1O2A, $1,000
1921, $2,OOO@1021a, $1,000
1927.
Washington Railway and Elec-
trio Is, $1,o00@8912.
Capital Traction, 10@32A.
Potomac Electric Pr. S12s pfd.,
5@11O.
washington Railway and Elec-
trio CON-, 6@425.
Merchants Transfer and stor-
age pfd., 1908.
Carpet Corporation, 2S@241s, 10
@24R, 2O@24B.
AFTER CALL
Mergenthaler, 5@80A.
Capital Traction SIS, $l.OOO@77.
Capital Traction, 10@32h, 100
321a, 1O@32h, 1O@32h.
Washington Gas IS, $4,000
1O51a.
Mergenthaler, 5QSO24.
Capital Traction, 10@32b.
Carpet Corporation, 35@24h.
Public Utility Bonds
1nacostis : Pot R R ST.. = .....
Ana 4 Pot Guar SS: S:..o..s. =! .'o..
n mai
The Washington times., 1931-04-14
PHILLIPS PETROLEUM

Phillips Petroleum Company
has concluded arrangements with
Lee Rubber and Tire Corporation
whereby stocks Of Lee tires and
tubes will be carried in the 1900
service stations operated by Phil
lips Petroleum in the 16 States
in which the company has mar
keting facilities,
The Washington times., 1931-04-14
LEONARD OIL co.

Report of Leonard Oil Develop
ment Company and Leonard Ex-
ploration Company for year ended
December 81, 1880, shows net loss
of $1S,714 after expenses, interest,
ETC., comparing with net loss Of
$17,322 Ia 1929. -
The Washington times., 1931-04-14
JULIUS KAYSER BASIS 81

Julis Kayser and Company de-
clared a quarterly dividend of 25
cents, placing stock on a 81 an
nual basis, against $3.50 previ-
ously. Dividend Is payable May
to stock Of record April Is.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05
MORE GAINS MADE
IN NEW ENGLAND
Manufacturing Activity and
Building Conditions Are
Scoring Increases.
Special Dispatch to The star.

BOSTON, April New England
recorded further improvement in bust
ness, according to the March issue of
New England Business, published by
the National Shawmut Bank. The re-
view notes particularly a relatively
large increase in volume of Guiding
contracts awarded for both commercial
and residential structures. It notes
also more Than seasonal improve
ment in manufacturing
The review says: Productive ac-
tivity In New England manufacturing
plants as measured by the consump-
ton Of electrical energy, apparently
increased more than seasonally In
February as compared with January.
Adjustment Of these indices of pro-
ductive activity for seasonal variation
and long-term trend indicates that the
February pickup in New England was
greater than that for the country as
whole and that the level Of pro-
ductive activity in New England is not
as subnormal as in other sections.
increased employment in r1anufac-
turing plants was accompanied by
slightly higher weekly wages per wage
Garner. Distribution of goods continues
at approximately the same rate as dur
ing the previous three months"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05
CONTRACTORS STUDY
WAGE SCALE DATA
Builders Are Anxious to Determine
Schedules for Government
Construction.
BY the Associated Press.

The Associated General Contractors
Of America. and affiliated bodies, are un-
iertaking wage surveys to enable general
contractors to reach some conclusion on
prevailing wages they must pay on Gov
eminent construction work.
This procedure has just been planned
by the association to comply with the
Davis-Bacon act, which provides that
contractors on Federal construction
shall pay the higher wage prevailing in
the locality Of the structure, thus for
tifying them against charges of VIOLA
ton of this law.
The plan Of the building organization
Is taken here as an indication organized
general contractors have no intention
OF submitting passively to arbitrary de-
cisionS governing the prevailing rate
OF wage" under the law, which places
the final decision with the Secretary of
Labor
The purposes Of this new act are
laudable and have the hearty indorse-
ment Of responsible general contractors, -
A. P. Greensfelder of the association
says. but in their anxiety to push the
bill through. its authors left weaknesses
that seem certain to work irjustices on
the contractor Of else make the act itself
ineffective"
1t is the contention of the association
that the law should provide, or be so adj
ministered, that the wage on a Govern
ment project would be predetermined by
the contracting officer and stipulated in
the contract or specifications.
These recommendations, the wisdom
OF which seem at once apparent"
Greensfelder says, were ignored by
Congress in it's frantic last-minute rush
to enact the Davis-Bacon bill and have
subsequently been studiously avoided by
those who will have charge of admins
tering the law"
Greens fielder points out that without
predeternination of the wage, contrac-
tors VIII be gambling on the ultimate
cost OF major factor In bidding re-
sponsible contractors are left the alter
natVe OF withdrawing from competition
on Government work, or obtaining
through private survey accurate wage
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05
SURVEY OF COPPER
INDUSTRY STARTED
Mining Companies Cooperate With
Government in Obtaining
Data in Costs.

Cooperation Of copper mining COM
panies and the American Mining Con-
gress with the Tariff Commission In
obtaining cost data on which to base
report to Congress was pledged here
at recent conference Of the industry
and the commission.
The survey Is in compliance with a
Senate resolution sponsored by Sena-
tors Wheeler, AshurSt and Vandenberg.
The conference covered the scope
and plans Of the investigation, which
is to be conducted by the commission
to determine the differences in the cost
of production Of domestic and foreign
copper during the last three years as
the basis Of possible tariff legislation
at the next session Of Congress. While
the commission will not make any rec
ommendation as to the need for duty
or q possible rate, It will inform the
Senate on the advisabiltty Of such &C.
ton.
1t developed at the conference that
much Of the copper leaving the mines,
mills, shelters or other domestic and
foreign producing plants h.s not been
bought or sold at open market prices,
but has moved by intercompany trans
fers, and that such transactions are
not an adequate measure Of cost.
The commission Is expected to gather
data covering: Production, quantity and
grade, supported by evidence of pur-
chase, sale and inventory: operating
and development expense, depletion or
royalty. depreciation. general and ad-
ministrative expenses, transportation
cost, value of fixed assets for the COM
putation of interest OF investment.
Production information will include
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05
RAIL BONDS GAIN
IN ACTIVE MARKET
Erie IS Prove Star Perform
er, but Other Issues Also
Advance.
BY ALEXANDER HENDERSON.
Associated Press Financial Editor.

NEW YORK. April ACTIVE trading
with a recovering tendency in railroad
Issues marked the bond market today.
Erie IS of 1875 made one of the
largest gains when it rose about point
On q few sales. Atchison General As of
1895 were active and higher and Union
Pacific As of 1868 were more active than
usual and steady The action Of other
issues in this group were Of a more
usual character. st. Paul IS of 1000,
Baltimore 81 Ohio AIS Of 1860. and
New York Chicago & st. Louis 4l7s of
1878. al of which have moved down.
ward recently, were firm or higher to-
day. lower levels were reached by
BOSTON, & Maine SIS Of 1855, Chicago &
Northwestern 43zs, and New York
Central IS of 2013.
Industrial issues were moderately &C
tive but the changes among the leading
bonds were narrow and had no trend.
Goodyear SIS and International Match
SIS showed rising tendency. Phillips
Petroleum 5i2s and Standard Oil Of
New York AIS were active and steady.
The price movements of stock privileges
obligations were narrow also.
Most foreign bonds were dull with
nominal fluctuations. United States
Government issues were quiet also but
firm. Public Utility obligations were
steady on q few sales
Reports of the offering of 100000 900
Of Pennsylvania Power g. Light first
mortgage bonds next week required.
The proceeds are to be used in redeem
ing the entire underlying debt of the
company.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05
BUYING OF LUXURIES
HAS KEPT GOOD PACE
Industry Shows Favorable Returns
for Year, Despite Depression
in Business.
By the Associated Press.

By the Associated Press.
Regardless Of the duration or severity
Of financial depression, the American
buying public refuses to give up lux
uries
This statement is amply proved by
corporation profits return on net worth
in 1880, prepared by the National City
Bank, which shows net profits for the
ysar Of 10 amusement companies and
90 confectionery ard beverage COM
paries, were out 6 per cent less than
the previous year, while necessities of
life, such as miscellaneous food prod
ucts. shoes and wearing apparel suf-
fer the hrst-nsmed to 65.7 per cent for
clothes. Shoes lost 41.5 per cent.
The statemsnt reveals IS main groups
OF industry comprising 1850 n1anufac-
turing and trading concerns, suffered a
composite loss Of AIT net during 1890
OF this group, only two showed in
creases for the year. The dairy prod
ucts fields had a gain Of 1871 per cent
and the fertilizer group increased prof.
its 29.3 per cent Nine of the main
group had deficits for 1880, these being
cotton mills, furniture, leather tanning,
lumber, Wholesale merchandise, rubber
tires. silk and hosiery. Cuban sugar,
and wool.
The industry hardest hit in 1880, the
compilation shows, was aviation, as rep
resented by Is companies, which suf-
fered q net loss Of S5.4 per cent. Mis-
ce!laneous textile products disclosed an
S5 per cent drop and mail-order mer-
chandise was third with loss of el.4
per cent for the year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05
FORD MOTOR FINANCES
REPORTED STRONGER
az the As.ociated press.

NEW YORK, April 4.-The Wall
Street Journal, in a copyrighted dis
patch from Detroit, said the Ford
Motor Co. has actually strengthened its
financial position during the protracted
depression, and has unimpatred cash
resources in excess of 100000, 900.
The dispatch says:
THE company's current financial
position is in sharp contrast with its
situation in the depression 10 years
ago, when with heavy inventories and a
serious slump in sales 1t felt the pinch
OF a cash shortage, and bankers offered
refinancing plans. But the bankers in
1921 found q belligerent Ford. who
astutely solved his difficulties by con-
verting inventory into cash through
shipping cars with drafts attached to
dealers
"Entrenched financially with normal
inventories, Henry Ford today is Sc
rene in the face Of outwardly depress-
ing conditions. Production and sales
this year have shown q substantial
shrinkage from the 1880 volume, and
Ford's proportion Of the industry's total
production has dropped to around IS
per cent from Al per cent q year ago
based on January and February output.
Henry Ford, however is not particu-
larry concerned just now with his rele-
tive position with respect to sales, nor
Is he willing to put strain on the pres
ent purchasing power of the public by
intensive sales campaigns. In his opin-
ion, there is such thing as paying too
much for business, and he is not in
cltned to an exhorbitant price Just to
obtain volume"
Ford's 1880 profits are placed at
$bS, 000, 600, with a world production Of
1,500,0 cars and trucks, as against
indicated 1929 profits of sal 1877 ,861 and
world production Of 1851 ,092 cars and
trucks.
Details Of the Ford Motor CO. s finan-
cial affairs are meager and always re-
ceived with interest in Wall Street, as
the company Is privately held and does
not publish its earnings statements.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05
WOMAN GOES ON SIXTH
TRIP TO ORINOCO RIVER
Mrs. Herbert Spencer Dickey Sails
With Husband for Jungles
of South America.

NEW YORK, Mrs. Her
bert Spencer Dickey sailed this week on
her sixth trip to the South American
1ungles. She seeks more birds and
small animals for the New York Zoo
logical Society, and will continue her
study Of native tribes. They have, on
other occasions, expressed pity for the
American male upon learning that he is
permitted only one wife at time, but
have made exception-after seeing Mrs.
Dickey--of her husband.
Mrs Dickey, who gets along beauti-
fully without beauty parlors, is one of q
group hoping to reach the source of the
River Orinoco in Venezuela. Last time
DR.. Dickey managed to get within so
miles of it, he believes. According to
the Dickeys, only polygamy on a large
scale keeps certain Indian tribes from
passing to the happy hunting grounds,
because infont mortality Is so high.
Yet the absence of any rivalry over
possessions and social standing Is said
to make for an easy contentment that
people here too seldom have.
(Copyrisht. 1891, by the North American
Newspaper Alliance.)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05

Newton Steel 1880 deficit. 500, 7S2,
81 sinst net income S2,077 $50, equal 10
S7.S7 common share in 1929.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05
RIGHTS-EXPIRE,

2H 2ss Sou Cal Edison. Apr 20 ~ 2% pa y
Dividend rates given the annual
trading tPartIy extra 3Pus
~ in stock sPayaible a Pius stocn last
Payable
stock Plus ~ IN .oea pua s S In nrsfsx.d pp IN
30 in stock Plus So in stock
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05
NAVY GREETS ARMY
Macarthur Receives Congratula-
tory Letter From Pratt.

Army day, to be celebrated tomorrow,
was the subject of a congratulatory let
ter sent yesterday by Admiral william
v. Pratt, u. s.. Navy, chief of opera
lions, to Gen. Douglas Macarthur, chief
of staff, u. s. Army.
The message read: II desire to ex-
tend to you and the officers end men
of the Army the best wishes of myself
and tn. officers and men of the Naval
Establishment on the occasion of your
celebration Of Army day April g."
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05

ments on account OF joint and by
products.
AS the commission desires to have its
report completed by December, it will
expedite the inquiry by detailing agents
to the principal copper producing rec
ord headquarters for conferences with
officials Of the larger companies to aid.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05
Money to Loan

Secured By Erst deed Of trust on real estata
Prevailing interest and commission.
Joseph |. Weller 30 B1s, w.: sss I z Tvs Hw
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05

Sales Of lottery tickets In Cuba are
declining materially.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-05

The word Canada Is said to be de-
rived from the Iroquois word Kannata,
a collection of hutS.