davidaulloa/AmericanStories huggingface dataset:
Evening star., 1931-12-23

cenber 81 was at slightly under "a per
cent of capacity as against a fraction
under Is per cent in the previous week
ana better than 26 per cent two weeks
ago. 1t now seems fairly certain that
steel production in December will fall
below the low total recorded in Octo-
Der.
The Companies.
Aviation Corporation Delaware)
subsidiary American Airways, carried
Alt passengers and 122,437 pounds
of mail in November; Colonial division
carried 1,460 passengers and 25,537
pounds mail.
Commonwealth & Southern common
share earnings, II months to Novem-
Der 80, 40 cents, vs., 81 cents
Hershey Chocolate declared S1.5O
quarterly dividend on common stock;
also 81 extra and ST. quarterly divi-
dends on preference stock; formerly
paid SIPS quarterly on common stock.
New York, Ontario g. Western Rail
way November net operating income
S62,567, VS.. net operating deficit $6,113;
| months net operating income, 81 ,645,-
975, VS.. net operating income, 1886 ,687
Radio Keith Orpheum Corporation
! files answer to receivership suit of
stockholders; denies it is unable to pay
maturing obligations; asserts assets ex-
ceed liabilities by more than $50,oOO,-
00O
Monsanto Chemical Works, subsidiary
Merrimae Chemical, increases Ethyl
Evening star., 1931-12-23

acetate price to cents from 6l2 cents
a pound
Norfolk g. Western Railway common
share earnings, II months to November
80, $3.50. VS.. $20.08.
Unicn Pacific R. R, November net
operating income of system up 81 per
cent; IL months off 1874 per cent.
United States Smelling, Refining d
Mining common share earnings, II
months to November 80, 101, VS.. S2.93
United States Steel-Ingot output IN
week ended December 2l around "a "a
per cent of capacity VS.. shade below 26
per cent in previous week, II per cent
two weeks ago and Al per cent a year
ago. Briggs Mfg. declared 25 cents
dividend; paid 37la cents OCTOBER 20.
Burco Inc. deferred quarterly dlVloend
on per cent cumulative preferred
stock: paid rs cents october l.
Canadian. Pacific Ry.-Unlon char-
men continue to reject wage cut pro-
posal
Central Maine Power-Subsidlary,
Androscoggin Electric, ordered 10 cut
electric rates so that its profits will not
exceed per cent.
Food Machinery declared % cents
common dividend; paid 37h2 cents
October is.
National Cash Register-Passed class
A dividend; paid 3712 cents Octoner 70
Pan American Petroleum q trans
Of 10 cents quarterly
dividend forecast.
Evening star., 1931-12-23
Grain Market

BY the Associated Press
CHICAGO. December 23.-Grain
prices averaged lower early today. In
.fuenced by reactionary trend of Sc
curities. Wheat offerings. however,
lacked volume, and were readily ab-
Sorbed
Opening at Il decline to shade ad-
vance, wheat later held near the initial
range. Corn started Is to "a off to "a
up. and subsequently displayed f1rm-
ness.
Sellers Of wheat futures acted more
or less on official reports showing that
domestic Winter crop conditions were
good to excellent in the main producing
sections, though the soil was still too
dry in parts of Western Kansas How
ever. some trade authorities were
recommending purchases of July wheat
against sales of May. it being asserted
that July was more likely to reflect any
crop damage. Such authorities said
that even in case the years carryover
was small, May would work to a carry
ing charge difference under July.
Heretofore, the most popular ma
neuver of spread" traders in wheat
has been the exact reverse-namely to
buy May and sell July. This course
has been based on belief that owing to
the large size of Farm Board holdings,
there was little so-called free wheat
moving in the United States. On the
other hand, it was contended toda,
that there was not apt to be reduc-
ton soon in visible supplies, as a result
of dearth of expert demand for wheat
from this country. Corn and oats kept
within narrow limits. and trade as In
wheat was of holiday character.
Provisions were nearly rnotioulee2
Evening star., 1931-12-23
CURB SHARES SAG
AFTER EARLY GAIN
Utilities and Oils Lead Way,
but Most Losses Are
Small.
BY JOHN A. CRONE.

Special Dispatch to The Star.
NEW YORK, December 23.-Stocks
on the Curb Exchange slipped to lower
levels today. after opening slightly
higher.
Electric Bond & Share sold off about
half point. Cities Service was off
. shade but moved within a very mar
row range. Standard Oil of Indiana
backed and filled. Middle West UtiN-
ties and Niagara Hudson Power also
eased. Trading was down about 10 per
cent from Tuesdays volume
Specialties featured early trading.
American Salamanca broke points
United States Radiator was off more
than a point, Glen Alden Coal lost
2's points on relatively few offerings
Then Babcock & Wilcox began to ap-
pear frequently at 40 unchanged.
Under the leadership of United Light
g. Power convertible preferred which
yielded two points the public utility
preferreds for time turned heavy.
Among the high-priced common power
and light issues, Duke Power quickly
lost about 3 points
Stockholders suits filed against Amer
lean Light & Traction had a depressing
effect on that issue Later American
Gas IL Electric lost a point
Slight price changes, mostly on the
upside, marked initial dealings on the
curb.
Electric Bond & Share was up Is at
1lls, while Cities Service was down Il
at SIS. Standard Oil of Indiana. at
IAN, gained shade. Standard Oil of
Ohio rose point to PAS Cord Corpo-
ration lost Is at 7l2, but Ford Motor,
Ltd, at Az was unchanged.
Swift & Co., at 17ss, was up IS. Glen
Alden Coal opened off las at %. Lone
Star Gas pointed higher. Goldman
Sachs, Aluminium Co. of America and
Pittsburgh & Lake Erie likewise dis
played firm tone
Evening star., 1931-12-23
Extent of Rally.

NEW YORK, December % (Spe-
ciaD 1t is too soon to Judge the pos
sible extent of the rally in stocks which
started Friday at noon, petered out on
Saturday. faded away entirely on Mon
day and again came to life today. This
may be only temporary phase of a
definite turn, for the 10-point average
gain was violent for the period in
which it occurred and subjected the list
to heavy profit taking as we'll as short
selling. 1t developed the usual sec
ondary reaction"
Looking back to other critical market
periods this year, as abrupt changes
are found from a depressed situation
in June and in October as on last
Thursday and Friday. Between the
low point of June and the high point
of that month there was an average
recovery of SO points. Following the
formation of the National Credit Cor
poration on October and extending
with little interruptin until November
9, there was an average rise of "a
points. The extreme rise at the end
of last week, therefore, is regarded as
justifying some settling down process
before it may be resumed.
Evening star., 1931-12-23
CHAIN STORE SALES
OFF 5 PCT. THIS YEAR
Excluding Mail Order Houses,
Results for II Months Show
3 1-2 Pct. Decrease.

According to compilation by Mer-
rill, Lynch & Co., As chain store COM
panies, including three mail order con-
Germs, show total sales for the first IL
months of 1881 of s3,414.607. 1876.
against sales of S3,6O3 934, ,425. in the
corresponding period of 1880, a de-
crease of 5.25 C. Three mail order COM
panies alone show sales for the first
IL months of 1881, of S541 $685. ,33G,
against $627,680,l60 in the first II
same period of 1880, decrease of 346
per cent.
Results for November 1881. as re-
ported by As chain store companies. in
cluding three mail order concerns, show
total sales of S293, 385. .533 against S325,-
1895 in November. 1880, a decrease of
9.88 per cent. The three mail order
concerns alone show sales for November
of S47,782 ,233, against S57,978,154 in
November, 1880, a decrease of 1883
per cent. Excluding the mail order
concerns, 43 chain store companies
show sales for November, 1881, of SPAS
603,305, against $267 7,537.241 in Novem-
Der, $780, a decrease of 821 per cent.
Evening star., 1931-12-23
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, December 23.-The fol-
lowing is a summary of important cor
poratiHn news prepared by the Stand
arc Statistics Co. Inc, New York, for
the Associated Fresc:
News Trend.
Revenue freight car lcadings in the
week ended December IL declined
slightly more than the seasonal de-
crease, dropping to 6l3,534 cars from
636,366 in the previous week, Decreases
were reported in all commodities with
the exception of COAL ore and coke.
Daily average crude oil production
in the week ended December l9 was
2,430,300 barrels, which compares with
2,452, $50 barrels in the preceding week,
a decline of 22,350 barrels, according to
the weekly report of the American Pc
troleum Institute. Gasoline stocks at
refineries gained 1,110,000 barrels to a
total of 35,936,O00 barrels.
Dow, Jones & CO. reports that steel
ingot production in the week ended De-
Evening star., 1931-12-23
BILL TO REGULATE COAL
TRADE BEING REVAMPED

By the Associated Press.
: The original bill designed by Senator
Watson Of Indiana to regulate the coal
industry is in process of being re-
vamped by Senator Davis of Pennsyl-
Vania.
This measure, which has the support
of John L. Lewis, president of the
United Mine Workers of America, has
been before the two previous Con-
crosses without action.
Senator Davis said he and Repre-
sentative Kelly of Pennsylvania "and
others" were at work on framing bill
to regulate the industry "in some form
that we can all agree upon and in a
way to be constructive"
I'VE are taking the old Watson bill. y
he added, land trying to revise and
improve it. We have not gotten very
far yet We are not in agreement
among ourselves yet. The bill will not
be in shape to be introduced until
after the Christmas recess, if then.
When it is introduced 1 shall seek
to have it referred to the Committee
on Mines and Mining of which I am
a member, and I hope to have hear
ings upon it before that committee"
Senator Davis said that John L.
Lewis was taking no hand in the de-
liberations which Davis is leading in
attempting to frame a bill.
Evening star., 1931-12-23
CHICAGO LIVE STOCK MARKET

CHICAGO, December % LP,-C UNITED
States Department of Agriculture =
Hogs, $4,000 head, including 5000 di-
rect; steady with yesterdays average;
bulk, 170-230 pounds, 420a4 80; top,
ABS: 240-280 pounds, 415a4,20: 140-l60
pounds, 40Oa4.25; pigs. 35Oa400 pack
ing sows, 3.50a3.75; light light, good
and choice, l40l60 pounds. 400a4.25 IS:
light weight, 10000 pounds. 410a4. .35 ;
medium weight. 200-25O pounds 415a
4.35; heavy weight, 250-350 pounds,
good, 275-500 pounds 350a3.75; pigs.
good and choice, 100-l30 pounds, 350a
400
Cattle, 5000 head; calves. 1000 head;
general market fairly active and strong
to 25 higher; weighty steers and light
butcher and yearling heifers up most
clearance fairly good; top, ll25 on long
yearlings, loo on Weighty steers; bulk,
5.50a900 Slaughter cattle and vealers:
Steers. good and choice, 100000 pounds,
725a11 90: COOL 100 pounds, 725a11 so;
1,100-1 300 pounds. 75Oal175; 1900
1,500 pounds. 7.75a1175; common and
medium, 600-1, 800 pounds. 350a8 90;
heifers good and choice, 550-850
pounds, 5.25a775; common and me-
dium, 300a5.25; cows, good and choice,
3.Zod4.io, common ana meQlum. 2.I0a
3.25: low cutter and cutter 16Oa2.75; :;
bulls tyearlings excluded, good and
choice (beeD, 36Oa425; cutter to me-
dium, 2.50a3.75; vealers milk fed, good
and choice, 6.00a750; medium, 45Oa
600; Gull and common, 3O0a4 So
Stocker and feeder cattle: Steers, good
and choice, 50O-l O5O pounds, 475a5. rs;
common and medium, 3.OOa4.75.
Sheep, 10000 head: fairly active:
mostly steady with yesterdays average;
better grade lambs, 50Oa55O, to pack
ers; few loads, SIS, to outsiders; best
held higher; fat ewes, mostly 2.OOa2 so.
Lambs, 80 pounds down good and
and choice, 500a5.85 medium, 4.OOa
500; all weights common, 325a4OO;
ewes, 90-150 pounds, medium to choice,
1.50a2.75; all weights Gull and common,
1.00a1.75; feeding lambs, 5075 pounds,
good and choice. 4.50a490.
Evening star., 1931-12-23
LOWER BOND PRICES LAID
TO SMALL INVESTMENT BUYING
Customary Demand for High-Grade Cor
poration and Tax Exempt Securities
Has Not Developed This Year.

to about 40 per cent reduction from
the peak established in March 1880.
Moodys Investors Service recently
compiled figures covering the dividend
record OF about 80 different groups of
companies and representing 600 sepa-
rate corporations. The analysis extends
from June, 1929, to last November.
Therefore it does not include important
changes this month which materially
aHect the railroad dividend average. as
ABOUT dozen prominent carriers have
reduced or omitted their dividens in
the last three weeks.
High Average Last Year.
1t is interesting to note from this
analysis that the high average for di-
Vldends for the railroads was made in
September, 1890, or nearly a year after
the stock market panic began, and was
around lts hlghest just year ago. This
pears out the argument that the rail.
roads were slow to adjust their finances
TO the heavy shrinkage in their net
operating income; also that they did
not anticipate second year of losses
equallng those in 1890 Their present
dividend average is about so per cent
OF that at the peak of last year.
Another interesting fact developed by
thls analysis is that, in spite of the eff
1ect OF the November 1929, stock mar
ket collapse on business. it was not nm
TIL months later that many corporations
oeemed 1t necessary to change their
dividend rates. For instance, the pc
troleum companies paid their highest
average dividend in June, 1890. They
nave since seen an average decline in
them OF so per cent. The copper COM
panles, whose dividends have been de-
creased about 90 per cent, held close to
their 1929 peak until March, 1890.
There was comparatively little change in
the dividend record of the automobile
and automobile accessory companies
until the Spring of last year. although
since then they have contracted divi-
dend payments by 35 and 80 per cent,
respectively.
The last to feel the influence of the
depression were the public utilities,
which touched their high peak in Feb
ruary Of this year and are only off
about 6 per cent from the top Their
average will also be changed by the nu-
merouS reductions and omissions made
during December. Both bank stocks
and insurance company shares enjoyed
immunity from the effects of business
decline until the Summer of last year
Their relatively small averages losses
have not been much affected by Deem
Der dividend policies.
(Copyripht. 1921
Evening star., 1931-12-23
BABY BONDS PROVE
POPULAR PRESENTS
Single Share Certificates
Are Also Given as Annual
Remembrances.
Snecial Disnatch to The Star

SPECIAL DlSpatch TO Inc star.
NEW YORK. December 23-Since
single share certificates and baby bonds
of all varieties can be purchased this
year for less than they have cost in
many a year. they are proving popular
type of Christmas present in Wall
Street. Some of them, in fact, are so
cheap that they are being used as
greeting cards. Most of the houses and
transfer Offices dealing in such securi-
ties report a record demand.
An elevator operator in large Office
building downtown reported today that
he had receive one share certificates in
Ia different companies as year-end tips.
The porter on club car carrying a
group of prominent brokers each day
to their Connecticut homes is reported
to be displaying three baby bonds and
handful of stock certificates, all
gratuitieS.
An apartment house firm in Chicago
is offering a small amount of common
stock in a number of different Amer
ican concerns-the tenant to take his
pick-with each lease renewed. A used
car dealer here is giving away COM
mon stock bonus with each automobile
sold
The executive of a large American
corporation whose common shares are
selling under S., is reputed to carry
pocketful of one-share certificates
Endorsed in blank for the purpose of
tipping in restaurants, on trains and
elsewhere.
One vice president of a concern
whose stock is also selling in the lower
brackets recently returned from Europe
and laid on the desk of the secretary Of
the company list of over 200 indivi-
duals in France, England, Germany,
Spain, Italy, Austria and other Euro
pean countries, with the remark:
"There're your new European stock
holders. They include bartenders,
hotel porters, Wallets de chamber, red
caps, bus drivers, taxi pirates and SO
on. And in all my born days I have
never seen the common stock of great
American company looked at so
obviously as those certificates were in
Europe"
Evening star., 1931-12-23
STOCK EXCHANGE SEATS
ARE LOWEST 1925

BY the Associated Press.
NEW YORK, December 23-Enough
stock exchange seats were placed on
the market in the past few months to
bring the price down to the lowest since
1925, but in spite of the lower valua-
ton Wall Street has been heartened
by the recovery of $4,000 from the
extreme low price of $4,000 touched
last week. The December decline in
seat prices so far was from top level
of $157,000, and between the extreme
prices nine memberships were sold.
In December last year the price
dropped from S250,O0O to $4,000 on
the transfer Of % .c-t-. II ? beer
cycle seats normally ere sold more freely
In December b:esuse of firm consolida-
tions and retirements.
Evening star., 1931-12-23
GRAIN EXPORTS DROP
SHARPLY DURING WEEK

Grain exports last week from the
United States amounted to 1.719000
bushels, against 2501 900 bushels the
previous week and $4,000 bushels dur
ing the corresponding week of last
year.
Commerce Department figures today
gave the following comparisons between
last weeks exports and those of the
week before:
Wheat, 1851 900 bushels, against O.
100000: barley, $4,000 against $4,000;
corn, $4,000, against $1,000; oats, 81
600. against 10000. No exports of rye
were reported for either week
Canadian grains exported last week
from United States ports amounted to
$4,000 bushels, against 10000 bushels
the week before, while exports of North
American wheat flour were 175,000 bar
rels, against $4,000 barrels.
Evening star., 1931-12-23
BY CHARLES F. SPEARE.
Special Dispatch to The Star.

Special Dispatch TO The Star.
NEW YORK, December 23-In times
past the investment market could de-
pend upon a year-end buying demand
that would lift prices and develop much
business for dealers and distributing
houses. A considerable portion of the
anticipated January l dividend and in
terest money was then employed in the
purchase of different grades of corpora
ton and taX-exempt bonds.
In preparation for this movement
dealers accumulated blocks of bonds
which they carried in the banks
liquidating their bank loans as they
retailed the securities among their Gus
toners. Conditions today are not as
they were in the past. The public has
had craze to sell bonds rather than
to buy them. Cheap as they are and
attractive, relative to former standards,
dealers are not able to take on" bonds.
as the banks quite generally are unwill-
ing to lend on such commitments, using
the new argument that bonds are no
longer liquid and that a loan on a
marketable stock is to be preferred to
one on an unmarketable mortgage
obligation.
Refreshments Decline.
Another reason for the absence of
the year-end investment inquiry Is the
slump that has occurred this year in
the income from dividends, interest
and rents of those who formerly con-
stituted the buying public Remaining
'unearned" income is used in covering
ordinary living expenses as earned
incomes from salaries and services have
been much reduced. Interest and
dividend money is being deposited in
savings banks, in spite of the cut in
the rate on such deposits in practically
every section of the country. 1t is
understood there are many instances
also where the proceeds of called bonds,
as well as liquidated bonds have been
deposited rather than reinvested. This
is a factor in the swelling receipts of
most of the mutual savings institutions.
The decrease in corporation and in
stltutional dividends this year will
amount to between 100000 900 and
5000 100000, to which may be added a
substantial sum representing interest in
default on corporation bonds, but more
especially en- real estate mortgage
loans. Last week there were over 100
dividends listed as reduced or omitted
So far this week about so more have
been adjusted to decreased earnings In
their number and importance the divi-
dend changes in December are the most
significant of the entire year They
will bring the average of dividends paid
Evening star., 1931-12-23
Radio Exports Gain.
BY the Associated Press.

BY the Associated Press.
October's exports Of radio receiving
sets from the United States continued
to show a marked upward trend.
Statistics of the Commerce Depart
ment show an increase Of approximately
Al per cent in this trade during the 10
month period of this year as compared
with last.
The value of exports Of this class
during October amounted to $1,757,1 1873
as compared with $1,357,424 in the
same month a year ago. The total
for the first 10 months was $11,737,34
in comparison with $7,9e5,618 during
the corresponding period Of last year.
Evening star., 1931-12-23
New York Cotton

Special Dispatch to The Star.
NEW YORK, December 23.-Opening
cotton prices today were ! point lower
to 2 higher. Trading was in small
volume, with trade buyers bidding for
small quantities.
Opening prices were: December els,
off /; January 6l7 up /; March 6.33,
unchanged; May 6.5l, unchanged; July
$40, up /, and october 6.97, up 2.
Evening star., 1931-12-23
RAILROAD EARNINGS.

NEW YORK December % LP).-No-
vember net railway operating income
of roads reporting yesterday included:
Union Pacific .ss,947734 s3,18l s93
chesspeaks l. ohio... assSiSs 3,5ss's2s
Evening star., 1931-12-23
RIGHTS-EXPIRH

RIGHTS-EXPIRE
41s "a oofn Edison. 23 In IN 1h IA
nua paSm rates in dollars based Quartsy Of
dTdend plus ass g. IN st9s o stock @ n
Stock Plus 81 in soSk o @ Pqs o in stock m Plus ~ in
The Waterbury Democrat., 1931-12-17
LOCAL CASE SETS RECORD IN FEDERAL COURT
FIELD OWNERS TO GET EASTERN
 LEAGUE CLUB
Albany Baseball Team, Hit By Finances, Due to Be in New Hands Next Year

Albany, N. r., Dec. 17.-(UP.-
 The Albany Eastern Baseball League club, hit by financial re- verses. will be taken over and Op- erated by bondholders of the Capi- tai District Baseball Association, Inc, owner of the clubs field,
 Hawkins stadium, 1t was believed to-day.
 A report of a special commit tee thet recommended this plan was adopted unanimously at a meeting yesterday. Bondholders who did not attend we're asked to give immediate approval so the new organization can function
 early in the new year.
 Under the committees plan, bondholders would turn in their holdings, accept common stock of the same par and reOrganige the enlarged corporation by naming a
 board of directors of seven. Difec- tors would select officers to man
 age the club.
 Stock would be increased from $10,O0O to $250,000, it was said. IL
 also was pointed out that turning | in of the bonds would automat-
 ically cancel the mortgage now on
 the property. Tine committee recommended that efforts be made to raise $1O0,- 900 by a first mortgage, to pay l off other creditors 70 cents on a dollar. This would do away with all claims against the association, and bring the indebtedness from $500,000 to $100,0o0.
 It would be possible, then, to con- tinue to operate the team and the stadium, 1t was said.
The Waterbury Democrat., 1931-12-17
Last Civil War
 Vet. in Portland Died There To-day

Portland, Conn, Dec. 17.-(UP) Lewis Leigh; retired silk manu- facturer and only surviving local veteran of the Civil War, died of pneumonia at his home here early to-day in his 90th year.
 He retired from business several years ago when he owned silk fae- tories at Willington, South Glas- tonbury, New London and Sey- mour. He had been in robust health and the illness which caus- ed his death was the first he had suffered in many years.
 He enlisted in Company B. First Connecticut Heavy Artillery and boasted he had never missed an an- nual reunion of his company at New Haven since the war.
 He left son and two daughters.
 The American Legion, which has given him a place of honor in Memorial day parades, is expected to give him military funeral.