davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
|CRED|T EXTENSION
| PLANS CONSIDERED
Financing Business to In
crease Facilities Tor Grant
ing of Loans.
BY ALVIN RESCH.


Written FOR the Associated Press.
CHICAGO. November 1.-the
financing business, its operations d.
versified to an unprecedented degree
since 1880. now plans to marshal its
facilities for still further extension OF
consumer credit.
One of its major and immediate
goals is to decide in what channels
finance company capital can be most
profitab bly, employed to aid in restora-
ton Of normal retail buying.
Leaders Of the industry hope to
thresh out this problem at the annual
conference of the National Association
of Finance Companies in Chicago No
vember II and Is.
Representatives Of 800 finance COM
panies, with capital resources of ap-
proximately 100000 900, are expected
to gather for the conference.
Once almost exclusively confined to
the financing Of automobiles, this in
dustry now has equipped itself to
finance paper on dozens of widely d.
yersified products.
Financing in these new fields has al
NEST Offset the industry's loss Of bust
ness in automobile sales. 1t has grown
to the extent that this years volume
Of financing is expected to approximate
$4,000, 100000, figure only slightly
lower than last years, total.
Leading the list Of commodities whose
sale by financing has, experienced an
cutsta nding increase in the last year
are electric refrigsrators.N oil burners
and coal stokers.
When production began to sag in the
automobile industry finance companies
had idle capital on their. hands. At
once many began to broaden their field
Of operations.
Now they finance merchandise that
runs the gamut of variety from beauty
parlor equipment to dairy cattle and
tractors ~t
Leaders Of the industry say this trend
of expansion, which has displayed a
consistent growth since last year, has
yet to reach its height.
Financing in such untouched fields
as college or technical school educations
Doctors and dentists bills and i1sur-
ance premiums is under consideration
by many companies which handled al
most nothing but automobile financing
three years ago. ~. =
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
CURB SHARES MOVE
Il IN NARROW RANGE
niTrading Slows Down After
II Early Losses-Coppers
Make Good Showing.
BY JOHN A. CRONE.

" Special Dispatch to The Star.
ii NEW YORK, November 14.-Opening
}, active and moderately lower Curb Elk
change stocks slowed at the end OF
the first hour today and began to rally
slightly.
! The market leader, Electric Bond IL
Share, was off only fractionally, with
4 other active stocks, such as Cities
Service, Standard OIL OF Indiana and
Middle West Utilities.
Radio Keith Orpheum rights. which
IN point of activity featured early deal
! ings, opened at % and promptly sold
down to 3-16, from which level they
Z backed and filled. Other amusement
stocks did not share in this quickened
trading.
Coppers made the bests howing in the
mine division, due to the continuation
! of the world curtailment copper con-
ferences here today, which were pro-
Z 1onged beyond the original date set in
last effort to reach some sort of an
J agreement to decrease the supply Of red
metal above ground.
. The unusually low export demand for
Z anthracite brought selling into Glen
2 Alden Coal and Lehigh Coal e. Naviga
ton. The reactionary tone in early
J wheat trading caused heaviness in such
farm implement issues as Deere g. Co.
Gains balanced losses in the motors
most of the session. Mead-Johnson
: proved one of the weaker specialities
Dc it declined about 3 points
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
DECLINE IN CANAL
TRAFFIC REPORTED
Commerce Department Makes Pub
lie Statistics Showing Slump in
Panama Freight Handling.

A slump In Panama Canal trafnc In
the fiscal year 1880 was noted today by
the Commerce Department in making
public oficial statistics forwarded from
Panama City by Assistant Trade Com
missioner Cyril Crilley.
The traffic figures considered by the
department as one of the barometers
of 295 In cargoes shipped from the
Atlantic and los per cent In those
from the Pacific to the Atlantic, as
compared to the previous year.
Crilley's statistics were based on
shipping that passed through the canal
for the fiscal year ending June 80 and
he pointed out that the total tonnage
for the year was the lowest for any
year since 1922, when 5,495, 1884 tons Of
cargo were recorded.
Cargoes shipped from the Atlantic to
the Pacific amounted to 2,795 ,296, q
decrease of 2e.5 per cent from the
1929-30 fiscal year and 1914 per cent
from the record total of 1928-29, ac-
cording to Crilley.
All commodities, he added, listed by
the Bureau Of Statistics show a de-
crease except cotton. which increased
50,532 tons, or 20.3 per cent, in COM
parison with 1880.
Iron and steel, which is the largest
classification of cargo movement from
the Atlantic to the Pacific. accounted
for 1913 per cent of the total cargo in
comparison with % per cent In 1890
In actual tonnage there was decrease
Of 808,621 tons. or 80 per cent. in COM
parison with 1880. The Bureau of Sta
tistics said that the major decreases in
this item occurred In the United States
intercoastal trade
Other commodities showing impor-
tant declines were mineral oils, which
decreased 1922 tons. or 2S.9 per cent,
and phosphates. which decreased 123,-
069 tons. or 282 per cent
Cargo from the Pacific to the At
lantic declined 2,152,136 tons. or los
per cent, and In comparison with 1928
1t declined 2.37S,l15 tons. or ia per
cent.
The decline In cargo moving from
the Pacific to the Atlantic was relatively
small in comparison with cargo NOV
ing in the opposite direction. It was
pointed out.
Mineral oils. lumber. wheat and ores
moving from the Pacific to the Allan
tic registered decreases.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
elative to the restriction of produc-

relative to the restriction Of produc-
ton.
This should benefit leading copper
shares. Whether the rise will be
sustained will depend In the final
analysis upon an increase in consump-
ton. Should the outlook in Europe
particularly Germany, assume q some
what mere clarified aspect, confidence
in the genuineness of the rise and sus
tanned advance of the metal would seem
warranted.
Chesapeake q Ohio.
The Chesapeake & Ohio should bene-
mt substantially during the closing
seven weeks Of the year from a pickup
In cosl shipments, according to ]. j.
Bernet, president Ct the road. So far
this month, loadings have shown a
E.-sht decline due to the unseasonably
warm weather, which has adversely
affected coal trafic throughout the
Mr.. Bernet also points out that the
road Is making progress on its improve
ment program in Virginia and West
Virginia. involving reconstruction and
enlargement Of tunnels and, in some
cases, the building Of new ones. He
expects that the progrs m will be COM
pleted next Summer or early next FAN.
Reparations PrcbleTA
Reports emanating from well inform
ed quarters abroad are to the effect that
the Franco-Germen problem relating to
reparations and debts Is nearing solu-
ton.
France has felt right along that rep
arations due her should rank ahead of
Germany's private commitments. These
prlvate commitments are held largely
by British and American interests, who
consider them as being of greater i'm
portance from the standpoint Of inter-
national finance and economics than
reparations. Indications are that a
compromise may be reached through
the formation of a special committee
which Will take up the countrys pri-
vate Short-term obligations, while the
Bank for International Settlements will
appoint another committee to deal with
the reparations problems.
! IL 1t quite probable that, in view OF
recent changes In the French economic
status, France will display more con-
clliatory attitude than heretofore.
Oil Production.
Production methods of oil companies
must be reformed, in the opinion OF
OIL Co.
Mr.. Pew also suggests the unqualified
adoption of the unit plan and accept
ance as a fundamental principle that
each owner in pool is entitled to his
share in its oil and gass. He expressed
the opinion that the industry could
double the average production of pools
ana at the same time cut in half the
number OF wells required, under a plar
Of unification.
In other words, in the next 20 years
instead OF having to drill 100000 wells
costing S20,000,000, it would be DOS
sible to produce Just as much oil from
100000 wells costing $40 OOO. 600. anc
there would still be left half the oil ir
the ground and recoverable.
| tCopyright. 1891 by the North American
Newspaper Alliance Inc !
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
NEW LIFE INSURANCE.

NEW YORK, November l4.-New
life insurance produced In October Tas
1915 per cent below that of the like
month Of 1880. q relatively better show
ing than in September, when the volume
Of new business was 19.5 per cent under
that Of the same month q year ago, the
Association of Life Insurance Presidents
reports. The cumulative total Of new
business production for the first 10
year. Total new business written by
the A member companies Of the as
ISOLATION last month was $o1Tc50,00o,
compared with $sl4,s6o, 900 in October
last wear
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
FARLEY ON LOANS

NEW YORK. November IA LP).-The
Federal Reserve Bank Of New York an
nounced that three representatives will
meet with representatives of five Latin
American countries at Lima, Peru.
December to confer on means of re-
facilitating the economic situation in
those countries.
The three are Prof. Z. w. Kemmerer
Of Princeton University; Allan Sproui.
assistant deputy governor Of the Fed
eral Reserve Bank Of New York, and
Eric F. Lamb Of the foreign department
Of the bank.
Attending the conference will be
representatives Of Bolivia, Chile, Peru.
Colombia and Ecuador.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
Metal Stocks.

NEW YORK, November IA Especially
In spite Of the dif1iculty In bringing
the American and Belgium copper pro-
ducers. to a common policy of proouc-
ton, the price trend of metals Is be-
lieved to be upward and speculation in
metal company stocks Is broadening.
Securities Of concerns that mine gold,
silver, lead, zinc and copper are gen.
orally in the low-priced class. For
this reason they have a certain specu-
lative popularity. The profits in the
production Of silver are now leading
to the reopening of mines that have
long been closed. 1t is expected that
developments of the same sort will &C.
cur elsewhere. The stocks that have
had the best response from these con-
ditions are American Smelling g. Re-
fining, Cerro de Pasco, American
Metals, U. s. Smelling g. Refining,
Homestake Mining, Anaconda and Ken
necott.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
POTATO MARKET.

CHICAGO, November II (Eo Omitted
States Department Of Agriculture) -
Potetoes-Receipts, IS carloads: on
track. $50; total United States ship
ments, sol; nrm on Russets, about
slow; sacked, per 100 pounds, round
whites, 70a80: few IS: Minnesota. North
Dakota, Cobblers, Red River section.
7Sa0O; Red River Ohio,s, o0a9o; few s5:
Nebraska Triumphs, l00al.lS; Idaho
Russets, No. /, i.SSal.4S; few higher;
commercials, lis. =
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
WHEAT PRICE DROP
MAY HELP MARKET
Recent Setback Declared to
Have Strengthened Pres
ent Values.

Special Dispatch to The Star.
CHICAGO. November l4.-This weeks
7-cent break from the top levels estab-
nshed in wheat has corrected the In
ternal structure Of that market. rather
than reflected any change in the world
outlook for grain.
That view is almost unanimously ex-
pressed today by statisticians and trade
authorities who study the movement Of
prices and market conditions They
look for no extensive setback that would
undo the wide effects of the recent IS.
cent increase in wheat values.
Market Shakeout.
When prices had moved UP over Is
cents from the all-time low point estab-
nShed on October 5, the public was
pictured as entering the speculative
market on a scale that dwarfed the
activity OF the professional traders. As
result the market structure became
lopSioed technically and O shakeout fol.
lowed naturally.
One study made by a trade statisti-
clan showed that while November nor
mally Is a period of rising prices. the
top of bull market almost never has
occurred in that month. The period is
approaching when Southern Hemisphere
wheat reaches world markets and holds
IN the year, when uncertainty develops
over Northern Hemisphere crops, the
wider speculative movements occur.
However. all Of the prognosticators
are greed that a war In the East would
again set of speculative enthusiasm.
The effect which rising wheat prices
has on business conditions has been
studied by one of the leading market
ANALYSTS. who places much Importance
On the recent price advance.
The long depression Of the 1905
came to an end in 1879" he wrote, "a
year in which both wheat prices and
wheat production rose so that the value
| OF the crop increased 20 per cent. The
| depression OF 1884 ended in 1885, when
the value OF the wheat crop, although
still comparatively low, was higher
than in 1885. The panic of 1893 end
ed in brief period Of prosperity In
1895, and the value Of the wheat crop
rose in 1894 and 1895. The panic Of
1907 ended in 1909, a year In which
wheat prices and wheat production
both went up. The postwar depres-
4 sion ended in 1922, when the value Of
wheat production was Is per cent high
er than in the year before"
Russian Exports.
At the present time, bullishN erthu-
siasm in this leading grain Is tempered
| by evidence that Russia Is planning to
export more wheat than anticipated.
Her exports this week have totaled over
1000, 600 bushels. But should Sine.
japanese war develop Russia would be
expected to hold her grain for possible
eventualities. Also there were reports
today that France intended more strict
ly, to limit imports. probably by q IL
censing system. In Great Britain, the
principal importer. the lowered value
Of the pound and of the Canadian dol
lar promote buying Of Canadian grain
! States.
While there now Is less talk of dol
lar wheat in the near future, the grain
trade expresses optimism over the out
look during the remainder of this crop
year.
tCopyright, 1917 =
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
ARBITRATION POLICY
AIDING SILK INDUSTRY
By the Associated Press.

BY the Associated Press
Arbitration Is bringing about q quick
disposal of disputes and claims arising
in the silk industry. as reported by the
Silk Association Of America. Sales of
raw and finished goods are made on
the basis of standard contract form
providing for arbitration.
The cotton textile industry has set
up q general arbitration council. One
important case was settled recently
in two days after a two-hour hear
ing, at cost of only $76. Court pro-
cedure would have been long drawn out
and expensive, 1t was said.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
Everybody's
Business
U. S. Railroads Declared
Likely to Accept Decision
of /. C. C. Relative to
Formation of Pool for
Benefit of An Members.
BY DIR. MAX wINKLER.

Special Dispatch to The Star.
NEW YORK, November 1.-THE re-
cent decision Of the Interstate Com
merce Commission, relative to the
formation of a pool somewhat similar
to the so-called common fund OF the
French carriers, is likely to be accepted
by the United States transportation
systems, with certain notifications.
1t is generally believed that the roads
will propose that the commission ap-
prove the formation of a national cor
poration to handle the increased rev.
enues to be received as result OF
higher rates, such excess revenues 10 DC
loaned to the weaker roads, with the
remaining funds to be divided between
the contributing systems. The money TO
be loaned to the weaker systems is ex-
pected to bear interest at the rate OF
per cent per annum.
These proposals seem most adequate
from the standpoint of the weaker car
riers. which leads to the beheI tnat
some arrangements might have 10 De
made to compensate the stronger hnes
for the loss they will incur from the
collection of funds, which will be taxed
bv the Government as net earnings, al
though they will be loaned to other cars
riers.
Dividend Change Likely.
Pressure on the railroad shares, with
weakness especially marked IN New
York Central, may be attributed 10 the
! possibility Of the latter reducing or
passing the present dividend, which mas
50 far this year amounted to 81 per
share.
AS the rate is far from being earned,
a change is likely to be ordered at the
next meeting scheduled to be held At an
early date. The management may adopt
the same policy as the Jersey central
by declaring the New York Central
stock on a 81 basis. which rate has al
ready been paid in the course OF TINS
year.
The weakness in rails spread to the
rest of the market, although there was
no special adverse development 10 ac-
| count for the recession.
Competition and Regulation.
Public interest requires that all trans
portation for hire shall be regulated, IT.
respective of the agency producing the
transportation. according to ]. ]. Pelley
president of the New Haven Railroad.
The establishment of fair competition
between the different agencies would be
the more economic method OF bringing
about the desired results, according tc
Mr.. Pelley. Experience has demon
strated that fair competition can bt
maintained only through proper regula'
ton, and that If the public interest 1:
to be protected, unregulated transporta-
ton services cannot be sustained over
long period.
Mr. Pelley concludes his observation:
by stating that there exists an urgent
need for the regulation Of the different
forms of transportation now existing
so that the unfair competitive rethod'
which threaten the public interest ma!
be CURED.
Copper Conference.
/, After reports to the effect that nego
tiations had been broken on and tina
some Of the representatives had alread.
prepared to sail for home, the confer
'ence Of leading copper producers Is ex
pected to resume. It ts believed tina
some definite measures win be adopte'
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
STEEL MILL OPERATIONS
TO INCREASE NEXT WEEK
BY the Associated Press.

BY the Associated Press.
YOUNGSTOWN. Ohio, November IA.
Steel mill operations in the Youngs-
town district will increase next week, for
the second consecutive week after a
long period Of declining activity. 1t was
revealed IN operating schedules made
public today.
Youngstown Sheet a. Tube Co. which
has been operating below the districts
general average, will resume production
with blast furnace which has been
banked, will operate one more open
neartn furnace. and start up sheet
skelp mill.
Otner plants report operations viii
De maintained or slightly improved.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
New York Cotton
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, November 1.-THE cot
ton market came under the heaviest
selling Of. the week during the short
bottom, to IL points lower than yes
terday. -
The list lost over 81 a bale from the
best figures of the week as direct
result of weakness in stocks and grain
and the cut in print cloth prices to
new low quotations Of the year. Spots
were reduced 10 points to 6.45.
Cotton range.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
NEW CAPITAL MARKET QUIET
DURING FIRST HALF OF MONTH
Flotations of Stocks and Bonds Have
Dwindled Almost to Vanishing Point.
Situation Is Analysed.

Their necessary financing has taken the
form of bank loans. This Is condi-
ton that is likely to prevail among the
utilities for the rest Of 1881, and even
longer 50 far as the railroads are con-
cerned. They are ut present limited
to issues Of equipment trust certificates.
These must be Of the best quality and
carry the usual as per cent equity in
order to 60 over.
Copyright, 1881
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
CHICAGO STOCK MARKET

CHICAGO. November IL P.-Fol-
lowing is the complete ofiicial list Of
transactions in stocks on the Chicago
Stock Exchange today:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
TREASURY CERTIFICATES.
BALTIMORE STOCKS.

London night clubs are featuring
Negro spirituals.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14

BONDS.
1000 insult Util IS 1870. 66 S6h 65Hi
Bond sales today, $4,000
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
Copper Conference.

After reports to the effect that nego-
tiations had been broken on and that
some of the representatives had already
prepared to sail for home, the confer
ence of leading copper producers Is ex-
pected to resume. It Is believed that
some definite measures viii be adopted
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14

or the corporation borrowers the
public utilities have been the most &C
tive for some years. In the 10 months
to October 81 they were responsible
for over so per cent Of the new capital
raised. About 20 per cent was absorbed
into railroad issues. In the past six
weeks, however, neither the. public
utilities nor the railroads have been
borrowers on publicly offered securities.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14

nu.i Dssmsnt 'i
alS!Ssnd stock slai 10 .: sssft PS. Il
n sock Paid last yeaf-no regular rate
Evening star., 1931-12-08
CAP0NE JURY PLOT
IN TRIAL REVEALED
Judge Wilkerson Swaps venire
After He Learns Ten Had Been
Approached by Gang.

| BY the Associated Press
CHICAGO, December 8.-An alleged
attempt to tamper with justice in the
recent income tax trial of Alphonse
Capone was revealed last night BY
Dwight H. Greano, assistant United
States district attorney, who said the
plan was frustrated by Federal Judge
James H. Wilkerscn
Addressing tn. Air Corps Officers'
Association Greene raid that the prose-
cutors had loarred that Capone agents
had obtained the names and addresses
of 100 veniremen called for Judge Will
kervon's court end had already ap-
proa"hed 10 of them
AT the last nom mt" he said, Judge
Wllke-son sent his whole venire TO Judge
Barnes and Judge Barnes sent his to
Judge Wiki Thus we got venire
that the Cspone agents knew nothing
cb-ut"
Tho prose cutcr aided that the pistol
brought into court by Capone'e friend,
Philip d'Andrea, was carried for def
mite and serious purposa.
'It was a death threat for certain
witness to make sure his memory would
be defective on the stand" h said.
Capone was convicted and sentenced
to IL years. D'Andrea was sentenced
to jail for six months for carrying the
| weapon.
Evening star., 1931-12-08

str,Icted, would be forerunner to q
large gas-manufacturing plant. They
said this would iniure the residential
possibilities of the community. Speak
ers pointed to reports the gas company
has leased 10 acres of iand or far more
than would be required for the tank
alone.
Another objection was the tank
would be 30l feet high, considered a
violation of the building regulations.
Members cited an ordinance banning
the dumping of refuse into the, river
between Rock Creek and Hains Point,
which they argued might result If the
gas company began operations in the
vicinity
Richmond B. Keech, peoples counsel,
declared the tank was planned as a
booster plant in order that uniform
pressure might be maintained in the
community.