davidaulloa/AmericanStories huggingface dataset:
Evening star., 1931-12-15
.CURB SHARES SAG
j.
IN ACTIVE TRADING
pt,l
Public Utilities and Oils Lead
Market Into New Low
Ground.
BY JOHN A. CRONE.

b, lspecial Dispatch TO The Star
NEW YORK, December 15.-LoWer
from the opening gong, the curb mar
ket was active on the doWnsioe To-Day
Fractional recessions in many instances
were all that was needeo 10 put Silaies
to new minimum prices. ,
Public utilities and petroleum Shares
led the decline. though losses were
fairly we'll distributed throughout the
LIST Electric Bond & Share, the mar
Iet leader, sold at 9 before midday,
while Cities Service touched 5. Stand
ard Oil of Indiana for the first time
dipped below 16.
'T"Traders for weeks have maintained
a cautious attitude toward public utln-
ties. fearful of governmental regulation
OF interstate power and an lnVeStlga-
ton into the ownership OF utility
investment companies. The utllltles,
If operating, holding, management and
investment companies be included, con-
stitute almost 25 per cent OF the total
shares listed on the curb.
THE close relationship between many
public utilities explains why the group
usually moves in unison. Electric
Bond & Share Is a case in point. I'M
fnediately after it moved lower TO-DAY
It carried down the warrants of Amer.
ican e. Foreign Power, its principal
foreign operating company, and sCch
affiliateS as Electric Power & Light,
with its various subsidiaries and ther
related concerns.
AS Electric Power g. Light common
broke over on the big board, the option
warrants on the curb reached a new
loy level This set in downward mo-
tion the common and preferred shares
rs well as the option warrants OF
United Gas, all of which went below
or equalled their previous lows.
Selling was resumed at the outset OF
the Curb Exchange, with special pres
sure again directed against public utili-
ties.
A block of 5000 shares of Electric
Bond & Share opened at 9l2, off IS.
Later the stock dipped to new low.
Cities Service duplicated its former low
OF SIS at the opening, but later rallied.
Associated Gas g. Electric A at 4 was
off y
American Cities Power & Light B
lost ! at p. Middle West Utilities,
United Light & Power A and Niagara
Hudson Power also pointed lower.
Standard Oil of Indiana duplicated its
previous minimum with an opening
trade of 157s. Great Atlantic & Pa
cific, with decline Of point to 144,
also was at new low level, as were
Shenandoah preferred at 97s and Pru-
dental Investors at 31s. Ford Motor,
Ltd. was unchanged at Az and Penn
road was a shade lower at 2is.
Evening star., 1931-12-15
Washington Produce

Butter-One-pound prints, SO; tub, 35
Eggs Hennery. 3Oa33; current re-
ceipts, 24a27.
Poultry. alive-Turkeys, young toms
and hens, 20a25; old toms, l8a20; old
hens, 19a22; chickens. pounds and
over. l0a2O; 2 to 2l2 pounds, 20a22;
Spring broilers, %; hens. large, 18a2O:
small l5al7; Leghorn hens, 13a15;
'ooSterS, 10al2; keats, young, 40a45; old,
25a35.
Meats-Beef, prime, 16; choice, 1917;
medium to good, 1la13; COW. 8I2a9;
lamb, top, l3; medium, 11al2l2; veal,
top IA; medium, 12l2; pork loins, 8 TO
10 pounds, II; 10 10 u pounds, 10;
fresh hams, 10 to IA pounds, II; i8 to
% pounds, 10; smoked hams, 18a2O;
strip bacon, l9a20; lard, in tins, 9;
package, 10; compound. 7a7l2.
Poultry, dressed-Turkeys, young
hens and toms, 23a28; old toms, 24a26;
old hens. 3Oa32; chickens, pounds and
over. 22a24; 2 to 2l2 pounds, 23a25;
Spring broilers. 30; hens, large, 2la2S;
small, l8a20; Leghorn hens, l6a18:
ROSTERS. l3al5; Long Island ducks.
l9a2O
Fruits-Strawberries. pint, 25; grapes,
EmperOrs. 200a225 Tokays. 225. pine
apples, $50; casabas, 2.50; apples,
bushel baskets. 40a2.O0; fancy box
stock. 2.25a2.50 pears, 275a3 90; ba-
nanas, 1.00a2.50; oranges. Florida, 3OOa
3.50 California, 425a5.00; grapefruit,
225a275; kumquats, quart, 10al5; tan
gerines, 2.00a2.25; persimmons, baskets,
200.
Vegetables - Potatoes, Maine, 100
pound sacks. 1.25 New York. 15O- pound
sacks, It's; Idaho bakers. 1O0-pound
sacks. 2.25; sweets. Eastern Shore 5Oa
IS, red 75ao0; lettuce. Iceberg, 375a
$50; Florida, 200: broccoli, 200a225;
caulilower, 1.75a2 90; carrots. California,
crates, 400; nearby. bushel. 75al 90;
string beans, 1.5Oa2 90; limas, 300a3 so;
peas. 800a9.00; beets. 100 punches, 3.OOa
400; carrots, per 100 punches, 6.00a
700; satisfy, per dozen punches, l00a
l20; peppers. 300a3.50; kale. so; spin
ach. 50a75: mushrooms, 75a90; turnips,
50a60; artichokes, 4.0Oa500; okra. Cuba
per pan, 90al.00; Florida. per buShel
3.25a3 so; cabbabe. new, 40-pound bas-
ket, 225a2 so; old 10O-pound sacks.
1.25; celery 3.oOa3.25; tomatoes, hot
house, 8-pOund baskets, 200; Florida.
3-pan crates. 300; yellow SQUASH,
bushel baskets, $50; eggplant, crates
$50.
Live stock-Hogs. heavy. 400: light.
425; medium. 45O; pigs. 4.OOa425;
calves, 3OoaS.50 lambs, 3.0Oa625.
Evening star., 1931-12-15
CHARGE CUSTOMERS
ACCOUNTS SOLICITED
New York Department Stores
Change System of Extend
ing Credit.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, December 15.-A strong
drive TO secure charge customers has
been carried on by most OF the depart
ment stores of New York City during
the past year. with the result that many
novel promotion plans have been brought
into action, according to John j. Bergen
Of New York, specialist in department
store securities. 1T was not so many
years ago that an applicant for credit
in New York department store had TO
furnish bank and other references and
fill out an application form that was
almost as involved as an income tax re-
turn. During the past two years all
this has changed, and now reputable
home owners. especially those in the
better suburban districts. find them
selves the recipients CT appeal after ap-
peal ID open charge accounts in the
leading stores in the metropolitan dis
trict
About year ago one of the promi-
nent stores sent card to home owners
in the suburbs, which, when filled out
with name and address and reference,
automatically opened an account for
the person" said Mr.. Bergen. Not to
be outdone by these tactics, big store
in Newark. unit Of one of the leading
department chains, informed selected
suburban home owners by mail that an
account had been opened in their names
and urging them to come in and shop
at their convenience Thus did this
store cut the Gordian knot Of red tape
and give a prospective customer a
charge account with absolutely no ef-
fort on his part; he did net even have
to send back post card"
Such a plan of granting credit to
win customers by department stores is
both a novel sales promotion method
and sound business" continued Mr.
Bergen. Home owners in New York's
suburbs are stable members of the
community and good credit risks The
preparation of list, with the elimina-
tion of undesirable names, is not a very
difficult task. The psychology of a let
ter telling a man or woman that an
account has been opened in his name
with no further ado, is very effective
Department stores in other cities may
we'll study these new methods Of the
New York stores
Evening star., 1931-12-15
BY CHARLES F. SPEARE.
Special Dispatch to The Star.


NEW YORK, December 15-The in
timation by Representative Bacharach
OF New jersey, a member of the House
Ways and Means Committee that Con-
gress might take action to prevent the
further operation Of the law relating to
capital gains and losses Is pertinent to
the situation in the market for securi-
ties which has been more than ever
oemorallzed since the proposed new in
come tax schedules were announced
last week
Recently there has been indiscrimi-
nate selling not only Of stocks but Of
bonds and Of senior shares to a degree
never before witnessed in Wall Street.
Last week there were nearly 100 separate
listed and unlisted bond issues that ex-
per1enced net declines of over 10 points
In this group were many that suffered
losses OF Is points and more. Under
lying issues OF prominent railroads
dropped from 20 to % points on sales
OF nominal amounts. There were a
score or more of preferred stocks that
went down 10 or more points.
Sales Follow Tax Proposals.
The only explanation offered for this
wholesale destruction Of values was that
the owners OF these securities were de-
slrouS Of establishing losses to such an
extent that these would offset their
earned and unearned income Sales
we're being made at levels that in many
cases reflected a credit condition among
corporations which the facts did not in
the least sustain. which indicated that
most Of the sellers had lost their heads
and we're sacrificing investments that
most certainly will recover in time and
appreciate much more than the equiv
alent advantage of tax reduction.
Congressman Bacharach has dlscov-
cred that the increase in the sales Of
securities has conceded with the new
tax proposals. He draws the Conclu-
sion that they represent an effort on
the part of holders of stocks and bonds
to limit their income tax payments in
1882. He also cautions against this
type Of liquidation. which not only af-
fects the position Of the Government in
Evening star., 1931-12-15
WOULD BROADEN ACT.

Broadening of the eligibility provi-
sions of the Federal Reserve act by
making short-term debentures CT the
National Credit Corporation and State,
county, and municipal bonds of short
maturity eligible for discount with Fed
eral Reserve Banks, is advocated by
E. G. Diefenbach, president of G. L.
Barret g. Co., as practical method Of
insuring greater liquidity to the banks
Of the country and preventing further
kQuidataon 10 the bond market
Evening star., 1931-12-15
R-K-0 REFiNANCE PLAN
Is ATTACKED IN COURT
Special Dispatch to The Star

Special Dispatch to The Star.
BALTIMORE, December 15.-A pc
tltlon asking Circuit Court to restrain
the Radio-K Orpheum Corporation
from putting into affect a refinancing
plan voted upon at a stockholders
meeting last week was filed Yesterday
by j. Goodman Boyd, stockholder.
Boyd charges many proxies voted al
last weeks meeting were secured by
fraud and Misrepresentation and de-
clared the entire proceedings at the
meeting were illegal
Judge Albert S. J. Owens signed an
order giving the corporation until jan
uary 4 to show cause why the re-
straining injunction should not be
issued
Several weeks ago Boyd asked the
court to appoint receivers for the
R-K-O, charging the corporation was
unable to meet its obligations. The
corporation has until December 22 to
answer this petition.
At the meeting last week a plan to
secure $11 100000 to refinance the con-
Germ. with the aid of the Radio Cor
poration of America, was voted over
Boyd's protest. It was said this plan
would avert ths receiVership.
Evening star., 1931-12-15
STOCK TRADING WOULD REFLECT
CHANGE IN CAPITAL GAINS LAW
Tax Selling Has Been Recent Factor In
Decline of Prices for Stocks
and Bonds.

the present emergency but which even
tually may work out to the disad-
vantage of the sellers. The clear inti-
nation, of course, is that the capital
gain and loss feature of the income
tax law may be repealed.
The market is just as thin on the
buying as on the selling side Any
change in sentiment would make it as
difficult to buv back bonds or preferred
stocks as it is at present to liquidate
them. In the case OF bond that has
dropped 20 points in the past week
after having suffered a decline in the
rest of the year of an additional 20
points an effort to recapture this same
bond will in all probability result in a
recovery of half Of its decline, leaving
the seller at no net advantage.
Potentially the seller of stock or a
bond to establish tax losses is in the
position of one who has gone short"
OF the market. He expects eventually
to buy back what he has sold when this
Is permissible under the 30-day clause
Market Crisis Heightened.
There are always a certain number
OF sellers who are making exchanges
from one group of securities to another.
This applies more to stocks than to
bonds or preferred shares. The pres
ent llquiaation in bonds is by investors
who are not compelled to sell, who have
no actual fear for the integrity of the
securities sold, but whose sole purpose
is to make their losses on securities so
large that they may avoid payment of
any income tax. Quite frequently they
are urged into such an operation by
their banking advisors.
If Congress feels that Short selling"
is lnimlcal to the market for securities,
and so has far reaching effect on the
general business of the country. il can
not avoid having similar point of view
toward selling to establish losses against
income taxes. Both. in this time of
extreme anxiety and fear among lnves-
tors, play into the hands of those who
are eager to take advantage of decIin-
ing prices for securities and give an
artificial aspect to the price list for
securities and intensity and lengthen
the market crisis
fCODyrivEf
Evening star., 1931-12-15
Commodity Price
Trends of W eek
BY III. y. MCGILL,

Editor McGin Commodity Service.
AUBURNDALE, Mass, December IS
(Pl.-During the past week commodity
prices continued to reflect the unset
tied conditions both abroad and at
home The average of all commodities
again declined to a new low point and
out Of IA individual groups 10 declined,
two increased and two remained the
same.
Industrial Prices.
Although not showing acute weak
ness, industrial prices broke through
the previous low point established IN
october. Paper and pulp and coarse
textiles were the two groups to show
an upturn, while chemicals and noc-
ferrous metals remained the same as in
the previous week.
Business in this country awaits the
action of Congress on the important
problems brought out in President
Hoover'S messages. These messages
suggested constructive measures for the
alienation of unsettled conditions both
in this country and abroad 1t is be-
coming increasingly evident. however
that this country must lead the way
out OF the present world depression. 1t
is also increasingly evident that pro-
duction in the United States, both of
agricultural and industrial products,
must work toward conforming output
with domestic needs only until the
financial and economic conditions in
foreign countries are more conducive to
the interchange Of commodities. Tariffs,
lowered prices and costs greater in some
countries than in others, boycotts lini-
tations OF imports to effect favorable
trade balance, as we'll as financial abil-
ity to purchase are hindering interna-
tional trade. Those commodities hav-
ing world markets are naturally feeling
more forcefully the effects of these
unfaVorable conditions. Evidence Of
this Is plainly seen in their present low
prices, which are generally below the
cost of production.
Agricultural Prices.
For the third consecutive week agri-
cultural prices declined and established
a new low point. The income of the
farmer for 1881 will be IS to 80 per
cent less than in 1880 and 40 to As per
cent less than in 1929.
Most important price changes in the
McGnl weekly commodity price in
diceS 1926-l0O.
Evening star., 1931-12-15

Commodity prices in Egypt have
dropped one-eighth in the last II
months.
Evening star., 1931-12-15
TRUST LAW VIOLATION
.>., is ALLEGED IN SUIT
Hy the Associated Press.

Ry the Associated Press.
BOSTON, December 15-The Ray
theon Manufacturing Co. of Cambridge
Yesterday filed suit against the Radio
CORPORATION of America in Federal
court for s15,O0o,OO0, alleging injury to
its business through acts of the de-
PENDANTS. The Raytheon Co. sought
threefold damages, totaling S9,000000
and costs of the suit. No date was set
for return of the suit.
, !. In charging that the Radio Corpo-
ration had damaged its business to the
extent of 100000 the plaintiff alleged
violation of the antitrust laws through
conspiracy in restraint Of trade. The
Raytheon Co. manufactured Raytheon
pecitifier tubes.
Evening star., 1931-12-15
CHICAGO IAIRY MARKET.

F CHICAGO, December IS (P).-But-
ter, 12,47O, unsettled; creamery specials
1913 score), 2914a2934; extras (92 score) 4,
1884; extra firsts (90-91 score), 2712a28;
firsts $3.50 score), 24a25; seconds (86-
81 score), 23a231a; standards go score,
centralized carlots), 27.
Eggs, 3,766, unsettled; extra firsts,
24a25; fresh graded f1rsts, 231a; current
receipts, 20a22; refrigerator firsts, 141a;
refrigerator extras, 1872.
Evening star., 1931-12-15
New York Cotton

Special Dispatch to The Star.
NEW YORK, December 15-Opening
cotton prices were to points higher
today. Trading was in good volume,
with brisk demand from the trade
and from professional shorts who were
covering.
Opening prices were: December. SOB,
up 5; January. 6.04, up 5; March, ga.
up 6; May. SO, up Z: July, 6.58, up 5,
ard October, 6G3, up 4
Evening star., 1931-12-15
NEW YORK STOCK EXCHANGE
Received to The

S3!( STOCK ana 6ales- Net
High Low. Dividend CO. High. Low Close chge
76 II Yellow Truck c pf 118s 1871 IT 171a -5a
29 81 Young Sprng& WG) 8 ~, 6N "
70 l5 Ygstwn sheet&Tube: 2 Is Is Is Il
5k u Zenith Radio. ....... 2 IN IL IL ! =.
IA 6* Zonte Prod Corp ID 6 Z 6s
RIGHTS-EXPIRE.
~ IL Poop G & Clan IS 35 2Is IL 2 - u
Sales of Stocks on New York Exchange
1000 AM..... 100000 1900 Noon ...... 100000
l:ao PM.. ...... 100000 2lo PM........ 2 100 900
as in the
2ae On tne --latest eu,ery hafye.y
Payses BAY ~ stoea Payable IN 81 IN stock
n stocR Plus SOC In special
stsct IN stesSk s, pad this yesEno regular
Evening star., 1931-12-15
RIGHTS-EXPIRE

as Com Edison. "a 2h "a "a
3A Pub svc N II Feb 3as 3% 3A ga
Dividend rates in dollars based last quarterly OF SEMI
tPlus .. STOCK
Payable in Payable in stock Adjustment
dividend plus 81 Plus 81 in stock rius ~ IN
stock Plus AZ ip Plus 1ox b stock n Plus " IN
Evening star., 1931-12-15

Because only one bid of $3.50 was re-
ceived at the auction at Perth, Aus
tralia, of a work by ]. NJ. w Turner,
the famous painter, which few years
ago brought S1,50O, acceptancas Of the
offer was referred to the Supreme
Evening star., 1931-12-15
BONDS,

Copyright, 1891, Standard Statistics co.,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-03-20

month the association officers hope
to have seventy teams on their
books. Seven leagues already have
been formed and others are
planned.
Available playing fields never
have been source of worry to the
association, according to Geider,
thanks to the cooperation of the
park board. Indianapolis rates
among the top cities of the coun-
try in diamonds.
Cleveland probably will be the
scene of the annual national fed
Grafton tourney, Geider stated, and
teams in the various cities repre-
sented in the national organization
already have started spring work.
E. c. Atkins, local champion, went
to the semi-fnals at Cincinnati
last year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-03-20
Four Hoosier Quintets Play
Second Round Catholic PLAY

high, Pittsburgh, Pa, was won by
Duquesne, II to Is.
The second round schedule:
Catholic high. Washington. Ind, VS.. Cen
tral Catholic. Wheeling, w. Va.
De La Sale. Minneapolis. VS.. st. Mel
Chicago.
:, Cotter, Winona. Mimi. VS.. Father Ryan
Nashville. Tenn.
Augustinian Academy. Carthage, N. Y
VS.. Central Catholic. Fit. Wayne. Ind.
Jasper Academy, Jasper. Ind. VS. St.
Patrick Academy. Danbury. Ia.
.Campion Academy. Prairie Du Chen
WIS. VS.. Neumann. Williamsville, N. Y.
De La Sale, Joliet. ILL.,. VS.. Bishop Eng
land. Charleston. S. G.
Cathedral. indianapolis. VS.. Dukquesne,
Pittsburgh.
Two Hoosier quintets won their
way into the second round here
Thursday, Central Catholic of FIT.
Wayne drubbing st. Wenceslaus, IS
to Is, while Jasper academy
thumped Lasalle academy, 80 to 10.
Cathedral of indianapolis advanced
on forfeit. Box scores:
Cert. Catholic 1857. st. Wenceslaus (15)
III. FIT PM mr. rr1 IN
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-03-20
Chicago Pair
Places Second
In Pin Meet

By United Press
BUFFALO, N. Y, March 20-The
team of F. Brown and K. Kaminski
of Chicago, was ousted from the
runner-up position in the annual
American bowling congress matches
here Thursday night when they
we're defeated by Al Brandt and Ed
Oates, representing Lockport, N. Y.
The winning team scored 1850 to
move into position for a playof for
the doubles championship.
In the flve-man event two changes
occurred. Witler Razz, st. Louis,
with 1882 assumed fifth place over
the Courier Express team of Buff
falo, and the south side aggregation
from st. Louis with 2,813 placed
seventh.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-03-20
Shields, Bell Battle for
Right to Oppose Borotra

The doubles finals will also be
played today and the two French
men are almost certain to triumph
over Clifford Suffer of New orleans
and Pierre Landry of France.
Shields is something like a to
favorite to whip Bell and move on
to shot at Borotra. The tall New
Yorker is at the top of his game
right now which means he's hand
full for any player in the world.
Bell, too. is in his best form. He
proved this Thursday by de2isively
defeating William Ayedelotte, 1928
champion and the man Who put
BousSus out of the running on
Wednesday.
No one knows whether Borotra is
on his game or not. The Basque
has romped through all his op-
position without extending himself.
Just how he will perform when OPP
posed by ranking player remains
to be seen.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-03-20
Barnes Quits
Danville Job
By Times Special

By Times Special
DANVILLE, Ind, March 90
Frank Barnes, who guided Danville
Normal college to an undefeated
basketball season of nineteen victo-
ries, will not coach the Purple war
riors next season.
The board of trustees of the COL
lege was unable to meet Barnes
salary demand and he will retire in
the fall, it was said. Barnes has
been at the Danvillle school one
year. He will continue to serve as
baseball coach this spring and in
the department of physical educa-
ton. Piggy Leitzlnan, La Porte high
school coach, has applied for the
job and will confer with local Of
fcials soon.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-03-20

will see the two very serious young
men above in action.
DOME Bush has placed his stamp
of approval upon Luke Appling as
the regular shortStop for the White
SOx. From college campus to the
majors in three months is the story
Of Appling's career. He left Ogle-
thorp college last June and joined
the Atlanta Crackers. The Sox
bought him late in the season and
he hit 1903 in six games for them
Even such veteran wallpapers as
Rogers HornSby, Hack Wilson, Riggs
Stephenson and Gabby Harnett sat
up and took notice when young
Vincent Barton rode few pitches
to the far recesses of Catalina
Island, the spring home OF the Cubs
Although he may not be able to
crash in this year on a regular
berth, young Barton is sure to stick
around and probably will get the
reserve call over Danny Taylor.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-03-20
Either You Make En- From Mid Floor or You're Disgraced

is practically year-round propo-
sition.
For much the same reason there
is no mystery attached to the great
number Of big league ball players
who come from the southern states,
or the many fine swimmers Hawaii
has produced.
But what is there about the at
mosphere of indiana that makes
every new born babe a potential
guard, forward or center? Basket
ball happens to be a game that can
be played in any town hall, any,
where, anytime, and it is a game
that is generally popular and widely
played, yet nowhere else in the
country has it grown to such i'm
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-03-20
BY HENRY M'LEMORE
United Press staff Correspondent

NEW YORK, March 20.-Frank
Shields of New York, No. 2 ranking
United States player, and Berkeley
Bell of Austin, Tex, No. II, we're to
meet today to decide who will play
Jean Borotra of France, in the finals
of the national indoor tennis cham
pionships Saturday.
Borotra, one lap ahead of the
field, is safely in the final bracket
both in singles and doubles. In the
singles semi-hnalS he defeated Per-
rine Rockafellow of New York, and
in the doubles he paired with his
countryman, Christian Boussus, to
eliminate the team of Bell and Mer-
rift Cutler of New York.