davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-03-17
Cotton Sales SLOW,
But Prices Steddy

NEW YORK, March II G.N.
SD.-The New York cotton
market was only moderately
active during the forenoon trad
ing today but prices were about
steady. There was a continue
ton of yesterdays advance at
the outset, influenced by the
firmer markets at Liverpool and
Alexandria. Increased selling on
the advance by New Orleans and
the South, however, took the
edge off the market The trade
was fair buyer, and there was
more or less covering.
At midday, March sold at 1921,
off 3: May at HOP, off 2; July
at 1925, off 4; october at 11.56,
off 4; and December at 11.77,
off 5.
In a revised estimate, the New
York cotton exchange service put
the world consumption of Amer
ican cotton for the first half OF
this season at 5,477.000 bales.
This compares with the prelim-
mary estimate by the service of
5,496, 900 bales and with the
International Federation report
of 5,278,0O0 bales.
The Washington times., 1931-03-17

mands poured into the depart
ment, that no little difficulty has
been experienced in keeping suf-
ficient blank forms in stock to
supply the need. So far, 8,000,-
900 forms have been requisitioned
from the Government Printing
Office. The initial order exceeded
100000 for vouchers alone. An
average of so calls for additional
blanks are received daily from
offices in the field.
Washington Area
The Washington office is direct.
ing drought relief in Maryland,
Virginia, Delaware, North Caro-
lima, South Carolina, Georgia,
Florida, Ohio, West Virginia, and
Michigan. The loans must be ap-
proved by local committees in
States and counties, and comprise
in their membership usually a
farmer, a banker. and business
man.
The personnel of the seed loan
office locally has been expanded
to approximately three times it's
normal number. There now are
more than so employed and this
number is expected to reach IS
by the end of the week. A night
force, which starts work at S p.
M, and stays on duty until mid
night, numbers 18.
Four Regional Offices
There are four regional field
offices in charge of drought work
outside of the Washington area.
The largest is the Memphis office
where 2l5 are employed. St.
Louis has 100 employees, Grand
Forks, N. D., 40, and Fort Worth,
Tex, is. Night work is necessary
also at ST. Louis and Memphis
While civil service status is de-
manded in the Washington office,
the urgent demand for loans in
the field has made it imperative
to take on employees without civil
service ratings
The Washington times., 1931-03-17
SEE
HOPE IN ITALY

The italian chemical industry
regards 1881 as a year of prom
Use, according to the Rome cor
respondent Of Industrial and
Engineering Chemistry" journal
of the American Chemical Soci-
ETY..
New hope, says the correspond
ent, has come to the industry, as
it can work on a basis of lower
costs of production due to the
general reduction of 10 per cent,
decreed by the italian Govern
ment, in salaries, rent, transpor-
tation, food and raw materials.
This, it is pointed out, brings the
cost of living, which was seven
times that in 1918, somewhat
closer to the real value of the
lira.
The financial reports for 1890
for a number of industries have
been much more satisfactory than
was predicted. Montecatini re-
ports that the net, after all de-
ductions, will be between 95,000,-
900 and 10O,000,OOO lire, allow
ing a dividend of 18 lire for each
1OO-lire share, as in previous
years. It is possible that the di-
rectors may reduce this to IS Ira
as a precautionary measure. At
the present market this value
means a dividend of 8 per cent.
The Washington times., 1931-03-17

ment which is handling the dis
tribution of Government finan-
cial succor to the destitute farm
ers, has been compelled to inau
gurate night work to weather the
demand for loans that have
poured in. Many of the en-
ployees are occupying desks in the
corridors of the new Agriculture
Building. while the administra-
tive Office is quartered in the pent-
house atop the structure.
IL Million Loaned
According to r. L. Grim, busi-
ness manager of the loan office,
approximately $12,000,0O0 in loans
have been approved so far for the
Washington and field agencies,
while 1000 checks are being
mailed out each day. ThG emer-
gency pressure that has been eX-
erted on that office has fallen
even more heavily on the admin
istrative offices. For the last
week, Mr.. Grim and other eXecu-
tives have been on duty from 8
o'clock in the morning until II
and IL o'clock at night.
So swiftly have the farmers de.
The Washington times., 1931-03-17
MORAN ATTENDS
SAVINGS MEET

Howard Moran, vice president
of the American Security and
Trust Company and member of
the executive committee of the
savings bank division of the Amer
ican Bankers Association will at
tend the eastern regional savings
conference at the Hotel Com
modore, New York, Thursday and
Friday.
One problem the bankers are
expected to take up is the re-
establishment of normal invest
ment habits among depositors.
Coincident with the steadily
growing depression period there
has been steadily growing savings
totals. with corresponding
shrinkage of money available for
loans.
Security rather than possible
or probable profits has been the
principal objective of bank Gus
toners, the records show.
How to bring about a return
of what is termed normal condi-
ton and at the same time pro
mote habits of thrift and conser-
vatism, is one of the delicate and
complicated problems confronting
the bankers.
Regional meetings are held an
nually in each of the four of the
country Savings bank executives
and officers of mutual savings
organizations study reports and
common problems.
The Washington times., 1931-03-17
DROP IN CEMENT
PRODUCTION

American Portland cement mills
still show a decline in the ratio
of operations to capacity as in
dicated by the figures for the II
months period ending February
%. According to statistics re-
leased by the Bureau of Mines,
of the Department of Commerce,
the ratio of operations to capac-
ity for the last IL months was
59.7 per cent.
The ratio percentage Cor the IL
months ending February 28, 1880
was 65.6 per cent, and for the
IL months ending February 20,
1929 was Ito per cent.
During the month 5,920,000
barrels were produced, 5,048, 900
barrels were SHIPPED, and stocks
on hand at the end of the month
were 28,478,000. Production in
February, 1881, was 27.5 per cent
less and shipments $50 per cent
less than in February, 1880.
Stocks at the mills were 0.8 per
cent more than q year ago,
The Washington times., 1931-03-17
ORDINARY LII {
INSURANCE
PRAISED
Held Best Form by Younger
Men With Growing Family,
According to r. F. Loomis
BY FRANK F. LOOMS

Ordinary life insurance is the
oldest, simplest, and as far as
the present volume of insurance
in force is concerned, the most
popular plan. It provides insur-
ance protection for life-from
youth through old age, and
affords the maximum amount of
protection for the minimum out
lay of cash.
The ordinary life form long
has been the accepted policy for
men over 40. Today, it is com.
monty and wisely advocated for
the young married man in pref.
erence to higher priced policies.
Need Great, Surplus Small
The young man with a family
of small children faces the
greatest responsibilities he ever
will have, and his income is
normally small. Therefore, it is
most practical for him to select
form of policy that provides
complete protection at minimum
cost.
The value of life insurance
should not be under-estimated.
Life insurance teaches thrift,
fosters good habits and increases
credit. Life insurance provides
for dependents; funds to pay off
the mortgage and educate the
children. The fundamental pur-
pose of life insurance is to estab-
lish fund, payable in a lump
sum, or in installments, which
will in part replace to a family
the earning power of a deceased
breadWinner.
No man should choose other
than the ordinary life fern of
insurance until he has built UP
an insurance estate that will pro-
vide the necessities of life for his
family after he is gone.
1t is far better to carry a
worthwhile amount of insurance
on the ordinary life plan, than a
smaller amount on a higher priced
investment plan of policy.
Loan values for the time of need,
cash values and other options that
anticipate every necessity are in.
cluded in the ordinary life form.
A slight additional premium pro-
tects the insured and his family
against the financial losses re-
sulting from prolonged and severe
illness or injury
In case of total disability, prior
to age so, all further deposits are
waived and for each $1,000 of in
surance, the insured receives an
income of $40 a month as long as
the total disability exists. At
death, the full face value Of the
policy is paid to the beneficiary.
Double indemnity benefits may
also be added at a slight addi-
tional cost. This means that in
case of accidental death, from
any cause, double the amount of
the face value of the policy will
be paid.
The Washington times., 1931-03-17
ALL NEWS GR|ST
FOR RBUS|NESS
HOPPER
Casual Reading DiScIoses How
Odd Paper Items Nearly All
kave Bearing on Commerce

Funny. If you think of it in
reading the papers, how many
items having no apparent direct
bearing on trade or finance have
their repercussions, often quite
important, on business.
The announcement by the De
partment of Agriculture, for in
stance, that the cherry blossoms
at the Tidal Basin are unhurt by
yesterdays sleet means, probably,
thousands of dollars in trade to
local merchants a little later in
the year.
Cab Strike Disturbing
The order that 600 taxicab
operators shall strike tomorrow
night, even if everything runs
smoothly, as union officials in
tend, is bound to effect hundreds
of business men in one way and
another, if only in disturbing the
routine of their customary travels
about town.
The report of Chairman Woods,
Of the Hoover emergency employ
ment committee, that more men
are finding jobs will have it's eff
feet soon in increased sales of all
classes of commodities.
The proposed affiliation of the
brotherhood of Railway Train
men with the American Fedora
ton of Labor has far-reaching
possibilities in the future of in
dustry.
The testimony of Eugene Meyer,
Federal Reserve Board governor,
before the War Policies Commits
sion will be read, and his con-
clusions supported and opposed
by business men and economists
in the farthest quarters of the
world.
Billions Swamp Banks
The story of how the $3,0OG,-
100000 turnover incident to the.
Treasury's tax date financing mas
swamped the Federal reserve
banks with work, keeping their
staffs busy far into the night, is
reminiscent of war days.
An Oil problems hearing, bus
line asking United States control,
31,000,000 miles airmail flying,
drop in farm food prices, Pepco
compromise probable, 1855 900
land condemnation, $500,000 in
street work, playground exten-
sion-these and a score of other
items is the grist of a single day
here.
The Washington times., 1931-03-17
WORLD WHEAT
POOL URGED

NEW YORK. March II.
George H. Williams. former presi-
dent of the Saskatchewan section
of the United Farmers of Canada,
declared here that the organiza-
ton of an international grain
selling body must be considered
at the forthcoming preparatory
conference of the International
Institute of Agriculture in Rome.
Although the possibility of in
ternational control of the wheat
surplus was not on the program,
Mr.. Williams said the presence
of a Russian delegation at the
conference, as we'll as the de-
velopment of the compulsory pool
idea in Canada, will make a dis
cussion of the subject inevitable
and necessary.
The Washington times., 1931-03-17
8,OOO,OOO Is Sought
By Alabama POLUer

Drexel & Co., Bonbright & Co.,
and Harris, Forbes & Co. are
offering an additional issue of
100000 Alabama Power Com
pany first and refunding mort
gage gold bonds, Az per cent
series, at 981a and interest, to
yield over 4.58 per cent. The
bonds are due December /, 1867.
They are redeemable as whole
or in part at any time on As days
published notice at 102 on or be-
fore November 80, 1882; thereafter
at 1912 on or before November
80, 1897; thereafter at successive
ly reduced premiums.
The Washington times., 1931-03-17
SURVEY SHOWS
COUNTRY BANK
LOANS Up
Commerce Department Finds
Debts Outside of New York
Mount 1873 P. C. in Week

The Department of Commerce,
survey of current business for
the week ended March 7 shows
an increase of bank debts out
side New York city of 1873 per
cent over the preceding holiday
week, but still under the CORE
spending period in 1890.
Total loans and discounts Of
Federal Reserve member banks
decreased slightly from the week
previous and were under the fig
ures for the same week last year.
Interest Higher
Interest rates for time money
increased from the week previous,
while call money rates showed no
change, but were materially lower
than a year ago. Prices of rep
resentative stocks dropped after
a continuous weekly rise since
the second week in January.
The ratio of total Federal re-
serves to deposit and Federal re-
serve note liabilities combined re-
manned the same as for the week
previous but was considerably
above the same week in 1880. :
Failures Fewer
The number of business fail.
ures, as reported by R. G. Dun
& Company, continued to de-
crease in respect to the previous
week, but were still above the
same week last year.
Wholesale prices, as measured
by the composite index, showed
the first increase this year in
respect to the previous week.
The Washington times., 1931-03-17

by LEWIS HANEX
Director NeD York University
Bureau of Business Research
and Former Economist of
Federal Trade Commission.
For the third week in success
sion stocks drifted lower last
week. The rails led the decline
with an average loss of more
than three points during the
week.
AS usual of late, the utilities
and a handful of pool favorites,
furnished the only strong spots.
Bullish Points
The bull points concerning the
stock market are as follows:
There has been an increase in
the short interest and growing
bearishness among small traders.
The professionals are still able
to keep the utilities up.
Selling pressure still is mod
crate and intermittent.
Money continues abundant and
cheap in New York.
There is but a small public fol-
lowing of margin traders to shake
out.
Arguments for Bears
On the other hand, the follow
ing bear points may be made:
Poor earnings statements con-
tinue to appear
Important dividend cuts are be-
ing made and will continue to ap-
pear.
The bond market has sagged,
and is the lowest since early
February.
Some signs of wavering and in
creasing irregularly have ap-
peared in the utilities.
Public Is Wary
Growing certainty that no con-
siderable public following can be
drawn in at this time.
An increasing acceptance of the
opinion that hopes for a sus-
tained business recovery must be
postponed until fall
In my opinion, the market is
ultimately going lower. and con-
siderably better buying levels will
be seen by mid-year. There seems
to be little prospect of new highs
in the averages.
The Washington times., 1931-03-17
Utility's 5H2 Notes
Are Offered at SO

E. H. Rollins and Sons, Cen
tralIllinois Company and G. v.
Grace and Company, Inc, are Of
fering $1,35O,000 Associated Pub
lie Utilities Corporation 5la per
cent secured gold notes at SO
and accrued interest to yield over
$50 per cent. They are dated
March Is, 1881, and mature March
1. 1892.
The Washington times., 1931-03-17
Farm Mart Prices
Set NeU Lou Mark

The. general level of prices at
local farm markets continued
downward during February, reach
ing lower levels than any in the
past 20 years, the Bureau of Agri-
cultural Economics announced
yesterday.
They reflected to some extent
larger up1olies, but mostly the
continued depression in domestic
business conditions. the further
curtailment in the buying power
of consumers, and the reduced de-
mand for feed brought about by
the unusually mild weather.
The Washington times., 1931-03-17
Gradual Recovery
Seen by F. 4. ROIph

Gradual recovery Of business IN
Canada and the United States
was reported by F. A. Rolph,a
president of the Imperial Bank
of Canada, as he sailed for En-
gland. He said:
"We people Of this North
American continent are richer
in natural resources and gem
eral gifts than any other people
in the world. We should be
ashamed of letting the stock
market get the better of U.S.
The Washington times., 1931-03-17
Business
Men to Visit II. s,

A group of 21 eminent repre-.
sentatives of Sweden's business
world will take part in the first
international conference on prob
lens arising in connection with
trade between Sweden and
America, at the Hotel Roosevelt,
April 30, according to an an
nouncement by the Swedish
Chamber of Commerce, which is
sponsoring the event,
The Washington times., 1931-03-17

C oun try to
k n ow firs t
hand the ex-
tent of suffer
ing in t h o S e
S e C t ms, a
large group of
employees o f
the De p a r t.
ment of Agri-
culture are get
ting a taste of
W h a t is a
tough" job.
The farmers
seed loan Of
flee, the unit
of the dnnarf-
The Washington times., 1931-03-17
Hot Weather Hits
Ar0entine Business

The improvement which Argen.
tine business experienced N Feb
ruary did not continue du.'iilg the
week ended March 7, owing rartly
to the unusual heat wave. as a
result of which the outbound
movement Of grains as we'll as
other activities were slowed uown.
The Washington times., 1931-03-17
Chicago Grain Seat
Up $1,000 to $4,000

CHICAGO, March ia seat
on the Chicago Board of Trade
was sold for $4,000, which is
$1,000 above the last sale. With
the Farm Board withdrawing
from the market within four
months, membership in the
worlds leading grain exchange
has renewed interest For -ula-
t0rS
The Washington times., 1931-03-17
DU POINT DIRECTORS

r. r. M. Carpenter has retired
as a member of the executive com.
mittee of E. I. du Pont de Nemours
g. Co. He will remain as a di
rector and vice president. The
directors reelected all officers and
reappointed all committees.
The Washington times., 1931-03-17
FISHERS INDEX STATIC

For week ended March 13, Pro-
fessor Irving Fishers commodity
index remained unchanged at
I6.O.
The Washington times., 1931-03-17
HOE PRESS NETS
S1.20 A SHARE

r. Hoe & Co., Inc, Leading
manufacturer of printing presses,
reports for the year ended De
cember 81, 1890, net profit of
S115,326.43, or about $1.2O share
on the class A stock
Further improvements have been
made in the superproduction news
paper press, and a number of
orders have been received Tor the
rev magazine and offset presses
with which the company is re.
entering fields in which it has
not been active for some years.
The Washington times., 1931-03-17
Canada

New York funds in Montreal, $:S1A
premium at 81 900; Montreal funds in
New York, s.31A discount at $1,000.
For a Directory to desired services
consult the 24-HOur Service Directory
published in tOday's Classified Section.
The Washington times., 1931-03-17
Farm Seed Loan Office
Sluan1ped With Work

Though Washington is suf:
ficiently removed from the
drought-stricken areas of the
The Washington times., 1931-03-17
COCOA CROP NORMAL

The 193O-31 coca crop in the
Gold Coast Colony, West Africa,
will be between 100000 and 1885,
900 tons, or of normal size, &C.
cording to the annual preliminary
crop estimate by Trade Commits
sioner Leonard j. Schwarz.
The Washington times., 1931-03-17
MARKET
FOR BUYERS
IS SEEN
Haney Forecasts Lower Price
Levels and lists Reasons on
Which He Bases Opinion
BY LEWIS HANEY

BY LEWIS HANEY
Director NeW York University
Bureau of Business Research
and Former Economist of
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-12-01
|. u. and De Paw Each Cain One
Berth; Miller Picked Over Yarr
BY DICK MILLER

1t isn't necessary to consult
your calendar or thermom-
eter to find that December is
here. The appearance of "all'
teams is indication enough.
Following a great season, it is
only natural that the 1881 all-In-
diana collegiate eleven likewise
should be great.
With a wealth of all-star ma
terial, the task is more than diff
cult.
And the selector of mythical
teams is, at the same time, right.
wrong, fair, unfair, crazy, and has
fair judgment in the minds of his
critics-and in the end, is willing to
admit he is goofy.
Notre Dame and Purdue again
topped the Hoosier list. Potential
national champions when the sea-
son opened, Notre Dame held that
rating until the double loss in eight
days TO L. S. C. and Army in the
tinal struggles of a bruising schedule
against the nations best.
Undisputed Big Ten champions In
1923, the Boilermakers scared after
dropping their first 1891 conference
start to Wisconsin, 81 to IA. in q
heart-breaking tilt. They PLAYED
out again, in again" football. but
managed to stay on top and galloped
under the wire with a victory over
Northwestern, giving them a tie for
the Big Ten title.
But for the loss to Wisconsin. the
result of a weak start which a
spirited late drive could not over
come, Purdue, the only conqueror of
northwestern, might have a. strong
national title claim.
Indiana U. reached its peak
against Northwestern, losing a
thrilling 7-to-6 battle after out
playing the Wildcats all the wav
De Paw, unbeaten by Hoosier
rivals, losing only to Ohio u. still
ranks as the secondary champion.
Franklin, under Coach Roy Tillot-
son, lost only to De Paw. VAL
paraiSo also lost but once, to Man
chester.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-12-01
Miller 0utshines Yarr

The 1881 all-State selections were
mace on the following basis:
Members of the first team were chosen
because in the writer's opinion, they
were without doubt the peers of col
leglate warriors who performed on Hoo
sier teams this season,
AS Tor the second team, II is COM
posed OF players who either were shaded
on the hrst team by close decision. sucb
as Miller over Yarr, Purvis over Hecker
ana horStman over Jones, Banas and
SURFACE or because the secondary COL
Iege boys placed on the team were nm
usually high class performers. far above
'ne average secondary college star.
Ihere will be arguments that Indiana
NO're Dame and Purdue have a dozen
packs such as Koken, MeIinkovicb
SneeketSki, Jaskwich, Vic Dauer. OrasiL
moore Xunevich and others who couId
outciass the secondary college DIavers
in secondary competition.
Anis same argument applies to lines
men, Dut the writer feels these oh;r
Hree" FASTENERS had their chances n
star, Just like Schwartz, Miller and tb.
Others and when they faItered and
passed that opportunity, it becomes a
question in the writer's mind, what
could these secondary stars do il they
had powerful lines in front of them or
great backs to galIOp through the holes
they made?"
Undoubtedly, Captain Tommy
Yarr of. Notre Dame will receive
many all-America votes. But thu
sensational play of Captain Ookit
Miller of Purdue against Indiana
and Northwestern, when he proved
to be almost a whole line by him.
self, stamps him, in the writer!
opinion, greater than Yarr, wht
battered against U. S. c. and Army
Many other writer's rank Miller a.
the nations best pivot.
Pardonner failed against Wiscon.
sin, and the writer feels his chanc.
to stay in the lineup all season more
was because Jack White was on the
bench with injuries than because
Pardonner excelled. However, thu
little quarter bac..; developed rapid,
under the guidance of the grea'
Frank Carideo, now coaching a
Purdue.
Jones looked like an early season
md at Indiana, but against Purdue
and IN the Chicago charity tourney
he failed to produce. Horstman wa.
a consistent ground gamer all year
plunging and running his way
through Indiana and Northwestern
in great fashion.