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Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1931-03-05

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Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1931-03-05
INFORMAL
ENTERTAINMENTS

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Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1931-03-05
ANNUAL SCHOOL
BANQTET MARCH l.

Stewardship was the subject O.
= TerT interesting talk made b.
Nrz c II Henry ~ rae meeting Q.
the - pllzr Auxiliary on TUESDAY
Afternoon he'd a. TIE church
Standing committee reports were
made and plans formulated for tie
annual banquet 70 be he'd March =
e. the home q Mrs T. W. Carter
for the high school seniors o. Me--
cedsS- IRIS Z an annual affair II
TIE interest O. denonllatsonzI edu-
cation
Mr. = Q Cop led the devo-son-
Al ard the following other women
were present to take part II the
afternoons program MeSdzZeS
Frank Agzrt c. Z Watson. Georrs
Morrison James Ezzzz-. John
Cause. Grant Lc-5on- {. c SxzEz
Feet LenrZ. Z VI Nan. J. DEI5eck
c II Hez-T. D J STz--z JOIN
BrlScc. George Czr-es- 9 c BATES.
J. c Potts and Mss JANE Bazaar
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1931-03-05

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Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1931-03-05
FANS FOE BANQTH
ARE MADE

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Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1931-03-05

ire Presbyterian church - = f1E1z
meeting c. TIE three circles CT TIE
Presbyterian Auxiliary led e TIE
church Tuesday afternoon with Arx
= - Pace presiding
General routine business matters
Ee-e taken I'd with The following =
attendance. MeS1zneS J. 2 Barr.
MiIla-d AgneT. Ebert Crockett
George CoEne. W W DeCel = =
ColTr. Z n Catch William LEX
a < Phillips J. - Pace Joan
Rouse, walter SEzrIE. Jzck Tr3l-
E-Ee-- j. Schn1T-er- = O Under
It'll Z 3 W1rner- = = Eol1n- z
II. VIM and I-ss Elizabeth Under
hill
Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1931-03-05

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The Washington times., 1931-10-16
W|CKENS TALKS
To BANKERS

The eighteenth annual conven-
ton of the Mortgage Bankers
Association Of America at Dallas,
Texas, October 1928, viii hear
David L.. WickenS, economist OF
the Department of Agriculture,
speak on can Economic Survey
of Farm Mortgage Financing" in
which he will comment upon re-
cent studies of the sources Of
farm mortgage funds, percentage
of farms mortgaged, ratio Of debt
to value of farms. and interest
rates.
In an open forum discussion,
the delegates will exchange in
formation on the best methods
of rehabilitating, renting and sell
ing farm properties that have
been acquired Involuntary by
mortgage investors. Including
leading farm mortgage bankers
of the agricultural States, about
400 to 500 delegates are expected
from the 40 States in which the
association has members.
The Washington times., 1931-10-16
LINCOLN WIDOW
FREED OF TAX

A transfer Of $1,25O,195 in
stocks and dividends made by
Robert Todd Lincoln, the son Of
President Lincoln, to his wife.
Mary n. Lincoln. within two
years Of his death, today was
held untaxable under the Federal
estate tax law, by the United
States Board Of Tax Appeals.
The estate Of Lincoln, repre-
Serted BY the American Security
and Trust Co., Of Washington,
and Mary H. Lincoln, executors,
appealed from a deficiency as
SeSSment Of $l35, 269 in estate
taxes, levied by the Bureau Of
Internal Revenue.
The executors must pay estate
taxes on an automobile and a
joint bank account Of $5l. 1874
transferred to Mrs. Lincoln.
The decision held that the sec
tion Of the Federal estate tax law
which provides that any gift
made within two years of death
is in contemplation of death and
therefore taxable, was unconsti-
tutfonal, following rulings to that
effect by the Supreme Court.
The Washington times., 1931-10-16

dex in August increased O.3 per
cent from June. Payrolls, how
ever, increased 2.9 per cent.
The iron and steel group showed
an increase Of SO per cent in
employment in the electrical ma
, chinery plants. Mems clothing
plants decreased forces slightly
while the women's factories re
ported q gain of % per cent.
Al decided falling off in the
volume of building brought the
eight months total 81 per cent
below q year ago. The condition
of the crops is fair to good.
Virginia Building Up
The trend in the major indus
tries in August was mixed. The
tobacco factories curtailed their
output, followed by a decrease
in employment. Car splantS
showed some slight Improvement.
The cotton textile mills indicated
q decrease in activity of about
20 per cent.
Building showed some improve
ment in August. Wholesale trade
is decidedly unfayorRble and un-
seasonable weather is holding
back retail trade.
The tobacco crop estimate has
been revised to lit BIS 900 pounds.
an increase Of 5.4 per cent over
the 1890 harvest. A lareg part
Of the tobacco crop has been
harvested. The apple crop is
estimated at 2l,959, GOO bushels,
as compared with the five-year
average yield Of 1898. 900.
Big West Virginia Apple Crop
Very little change occurred in
the industrial situation in Au-
gust from July. The steel mills
continued to operate at a level
far below a year ago and the
usual seasonal improvement has
not as yet presented itself.
The coal output t0taled 8,747,-
600 tons as against 8,825. 600
tons In July and l0,036, 900 tons
in August a year ago. Septem-
Der output is running ahead of
August.
The apple crop is estimated at
12,512,0 GOO bushels as compared
with $4,000 bushels last year
and the five-year average yield
: Of $3.50 900 bushels.
The Washington times., 1931-10-16
Credit Corporation Quota
Subscribed By Riggs

The Riggs National Bank yes
terday subscribed its quota to the
National Credit Corp, it was an
no,Inced after q DOard meeting ~
Robert v. Fleming. president. who
iS CORPORATION organizer for the
District at Columbia. Other banks
here are expected to take up their
quotas promptly.
Organizers Named ..
John M. Miller, director 1or
the fifth district. announced ar'
pointment Of the following State
organizers in addition to MT
Fleming:
Naryland-Chas. Z. Rieman,
nresident Of the Western Ma.
,tiOnal Bank ct Baltimore. 80
Virginia-JuIien II. Hill, pres
ident Of the State Planters Bank
g. Trust. Co. 0f Richmond.
West Vfrginia-Chartes M.
Cohen, president Of the FIRST
Huntington National Bank
Huntington, w. Va.
North CarOlfna-R. n. HaneS,
president, WachOyia Bank d
Trust Co., Winst0n-SaIem. N: o.
the largest banking institution
in North Carolina.
South Carolina-W. J. Res
dey, president, Central UnAon
Bank, Columbia, s. c.
Details for organization and de
velopment Of the credit corpora
ton are expected TO reach here
today from New York 49,
WOrk Is Pushed
When these are received Wash
ington banks at once viii be gwen
complete information.
President Fleming is pushing
his organization and is working
in close cooperation with PreSi-
dent Edward ]. McQuade OF the
Bankers Association and H. II.
Mckee, chairman Of the Clearing
House Association
BALTIMORE, Oct. 16.-With
officials already named to ex-
pedite matters, the first meeting
of Maryland bankers to organize
The Washington times., 1931-10-16
CLOTH MART SLOW

NEW YORK, Oct. 16 UN.SJ
With buyers apparently unwilling
to follow price advances except
in cases where they had actual
need of goods, the market in
print cloth yarn goods today
slowed down somewhat, although
a good business was done in
carded broadclothS. There was a
fair activity in some Of the print
cloths and sheetings conStruc-
tionS. Generally, the furry Of
excitement which had marked the
opening of the week was absent,
and while there. was fair
amount of selling, there was q
lack of the far forward interest
which had been noted earlier In
the. week, &c.,. w. -
The Washington times., 1931-10-16
General Tire Sets
Dividend Record

For the sixty-third consecutive
time since the organization Of
the company, directors of the
General Tire and Rubber Com
pany have declared the regular
quarterly dividend of IS cents a
share on the company's common
stock, payable November l to
stockholders Of record as of Oc-
tober 20.
BY this action, the directors
have maintained unbroken the
company'S record of never hav-
ing passed a dividend since the
company was formed in 1915.
The Washington times., 1931-10-16
TAX LAWS
ST:ILLF0UGHT.

Every new antichain store tax
law will be subject to attacks in
the courts despite the decision Of
the Supreme Court upholding the
constitutionalty Of the, Indiana
chain store law. it became evil
dent today after the Supreme
Court started consideration Of
the appeal of the Great Atlantic
& Pacific Tea Co. ~,
This petition aSSailS the valid.
ity of North Cardinals law al.
legged to discriminate against
chain stores. = >: -
While the high court last Mon.
day refused to reconsider its five
to-four decision in the Indiana
case, the decision apparently will
not become a general precedent
for this class of legislation.
The Washington times., 1931-10-16
FRENCH BONDS DRAWN

j. P. Morgan 81 Co., as fiscal
agents, have notified holders of
the Government Of the French Re
public external loan of 1924 Is
year sinking fund Z per cent gold
bonds, due December /, 1919. that
81, 0O0, 900 principal amount Of the
bonds have been drawn by lot for
redemption on December / at los
out Of the moneys in the sinking
fH1nfl -.
The Washington times., 1931-10-16
UTILITIES
FA|RLYF|RM

NEW YORK, Oct. 10 d.NS0
Curb stocks pursued generally
tranquil course IN quiet SeS.
sion today, with most sections
of the list disposed to churn
around aimlessly within narrow
trading limits.
The utility list was fairly firm.
American Gas and Electric was
the outstanding performer in this
group. rallying from low at 1894
to 4034, where it showed a net
gain of 25s points over its pre-
viouS close. Electric Bond, and
Share came back from 1879 to
20A, up fractionally, while Slight
improvement was noted in Amer
lean Superpower, Associated Gas
and Electric A, Brazil Traction,
and United Light and Power A.
Oils were irregular, with Stand
ard of Indiana and Standard of
Kentucky slightly higher, al
though offset by a loss Of Q
point in Gulf to "A.
Aluminium featured the Spe'
cialty list with a run up of SA
points to 81. Cumberland Pipe;
an inactive performer, also came
into the lirnelight with a.. gain
of 2 points at "a, but Great At
lantic and Pacific Stores, yester-
days spectacular perform e T,
pulled a cropper, and broke S
points to ITS.
Curb bonds were irregular: al
though heavy buying in Cities
Service S per cent. debentures re,
suited in gain Of more than 2
points for this issue at 5OA.
The Washington times., 1931-10-16
KRESCE SHARES
To EARN So

Earnings Of S. S. Kresge Com
pany so far this year have been
running about on q par with
those Of last year.
with anything like normally
favorable weather conditions dur
ing the coming 21a months there
is O probability that net on the
common stock will reach or even
exceed. 81 a share.
Last year Kresge reported net
profit Of $1O,62l.151 equivalent.
after preferred dividends. to $1.90
a share on the outstanding SSH
029 common shares.
The ability of Kresge to main.
tain its earnings around last
years level in the face Of the
current business depression re-
fleets the many economies which
have been effected in the COM
pany's operation during the past
year or so.
The Washington times., 1931-10-16
Scott Paper Gains =
Sales and Earnings

The Scott Paper Co: reports
for the first nine months of this
year net sales Of $500, 65S.09., an
increase of $2l4.936.l3, or more
than 3 per cent over the same
period last year. Tonnage Of
sales during the nine months
was about IS per cent greater
than the corresponding period In
1880, the lower dollar percentage
teflecting price reductions
The company recently increased
its 1881 advertising appropriation
to include an additional, news.
paper campaign this fan.
The Washington times., 1931-10-16
CHICAGO LIVESTOCK

CHICAGO. oct. Is 0NSj.
Hogs $4,000 1Oc' lower. Top,
$3.50: bulk, $4.8505.40: heavy.
$5@5.5O; medium, $5.10@5.5O;
light. $5@5.35; light lights, $4.75
95; packing sows, $4.5O@5: pigs,
$4.4O@5.: Holdovers, 10000.
Cattle-1,5OO; steady. Calves,
1000; steady. Beef steers Good
and choice, $500 1850; com
mon and medium, $5@8.50;
yearlings. $S.5O@1O.25;' butcher
cattle-Heifers, $4@9.25; cows,
$3@5.50; bulls, $3.5O@5.50;
calves, $6.5O@9; feeder steers, 81
OF; stocker steers, $3.75@6.75;
stocker COWS and heifers, $500
$50. ....
. Sheep-25, 900: Csc lower.
Lambs, $6.50@7.5O; common. 40
S; yearlings, $4.5O@5.25; feeders,
$5@5.60; ewes, $1@2.50. 49,
The Washington times., 1931-10-16
WESTERN UNION
EARN|NGSD|P

The Western Union Telegraph
Company report for the nine
months ended September 80 shows
gross revenues of 5,261, 9T2,
compared with $1O2, O26, 8O7 in
the corresponding 1890 period:
Total expenses were SITS, 622 ,6O3,
against $91, 437 $40 last year,
leaving a balance of $3.50 1859,
against $1O,588,837.
After deducting interest on
bonded debts net income for the
1881 period amounted to $5,621,-
3S3, compared with $3.50, $50 in
the first nine months of the pre-
ceding year.
The Washington times., 1931-10-16
FARM PRICES OFF

Since September is when the
farm price index Of the Depart
ment Of Agriculture stood at "a
per cent of the pre-war level,
further receSSionS in crop prices
have been only partly offset by
advances in prices Of livestock
and livestock products, with the
result that the average of farm
prices during the second week
or october remains below the
September level. the Department
said.
The Washington times., 1931-10-16

a Maryland unit of the National
Credit Corporation will DC held
Tuesday morning at the Balti'
more office of the Federal Re-
serve Bank of Richmond, -
John M. Miller, -jr., president
of the First Merchants National
Bank of Richmond, has been deS'
ignated as the Baltimore districts
representative in securing sub
scriptions by the various banks
to the States share of the credit
pool, which will probably be
about SIC, 900, 900. -. =. 80
=. Charles E. Rieman, 0Iganiza-
ton manager for Maryland, has
named William S. Gordy. jr.,
State comptroller and cashier of
the Salisbury National Bank:
Homes D. Baker, president Of the
Citizens National Bank Of Fred.
eTick, and Henry Shriver, preSi-
dent of the First National Bank
of Cumberland, to represent the
banks in the western and central
and eastern shore sections Of
Maryland. It !.ss'-~
The Washington times., 1931-10-16
Anaconda ReOpens
Phosphate Lands

Anaconda Copper Mining Co.
has started UP it's phosphate
property at Conda, Idaho, after
three months shutdown. it was
revealed today. About 300 men
are employed.
The phosphate rock mined at
Conda is shipped to Anaconda
for treatment with Sulphuric acid
and converted into triple super
phosphate, high-claSS fertilizer,
for which Anaconda has devel-
oped a, considerable demand in
the West.
The Washington times., 1931-10-16
ATLANTIC REFINING.

Atlantic Refining Company
and subsidiaries report for nine
months ended September 30.
1881, net loss of approximately
$2,77l, 400 after interest, depre-
citation, depletion, Intangible de-
velopment costs, etc. This COM
pares with net profit Of $4,844, 0O0
equal to $3.50 a share (par $3.50
on 2,696,642 shares Of stock in
first nine months Of previous
wear.
The Washington times., 1931-10-16
ATCHISON JUMP
OVER 5POINTS.
FEATURES
Union and Southern Pacifics.
New Haven, Baltimore and
Ohio, Others Record Gains
BY w. s. COUSINS

g., NEW YORK, Oct. 16 ONE0.
The railroad stocks were the lead-
ers in q brisk upturn in prices
in the early trading ON the big
board. today. Leading industrial
stocks and specialties which par
ticipated In Thursdays laSthDTr
rally carried their advances -
point or two further, and mod.
crate gains were also scored ~
the favored utilities. -. re
Reaction in Bonds
Except for the sharp reactions
in United States Treasury and
Liberty bonds, the security mar
ketS showed little effects Of the
BIZ per cent rediscount rate, an
nounced after the close of yes-
terday'S session.
Bankers acceptance rates went
up IN company with the bank
rate, and can money renewed at
2l2 per cent for the first time
since December of last year. A
rate of 3 per cent was bid for
time money. :.
AtchiSon's 51a-point rise to-
lisa was the feature Of the rise
in the rails. New Haven was up.
; points at 44lz; Union Pacific;
UP S at 1851; Baltimore ands
Ohio up 2 at SO; Chesapeake and
Ohio up IA at 80: New YORK
Central UP 2 at 6l1a; Southern:
Pacific up 394 at Sc. =
Steel Joins Rally -
United States Steel American
Tel. and Tel, Consolidated GeS
and other industrial favcriteS
joined the rally in the first hour;
with modest advances Of to =.
points. The market appeared to;
be in condition to absorb outsidg,
profit-taking on the upturn. |;
The. reserve boards report on
brokers loans shows the total at
less than a billion dollars. tbs
lowest on record and one eighth
as large as in the peak of 1922;
Commodity markets were steady,
with wheat and cotton at slightly
higher levels. "a.
The Washington times., 1931-10-16
~. Y. Reserve Bank
Raises Rate AgaiHl

Another raise in the rediScount
rate Of the New York Federal Re
serve Bank, this time from 2la to
3h per cent. was announced by
the Reserve Board yesterday.
The new rate win go into effect
today. A tendency to get away
from the easy money" which has
prevailed during the past few
weeks became evident several
weeks ago.
The Washington times., 1931-10-16
MACHINERY EXPORTS.

Shipments abroad of American
industrial machinery durin 6
August dropped to q new low
level for recent years. Total of
approximately 100000 for
August is about $1,000, 900 below
the figure established during the
preceding month and $4,000, 900
less than total similar exports for
the corresponding period Of 1880.
The Washington times., 1931-10-16
NEWS
In Today's
CLASSIFIED ADS

BUNGALOW FOR RENC-chsyy
ior large lot completely
fenced hOt-water beat
garage =. moderately priced
rental.
USED CAR FOR sALE-MarmeHI
10 Convertible Coupe 1929 Z
% SnScf and led Jus. . wire Wheels
beautiful car and a real bar
gain at only $3.50.
ROOM FOR RENT-Que St in
GeOrGetOwn large attFactively
I waters .' suitable for stuIsnts
hOme-cOOked meals
hOmeIike atmosphere reason"
able rates.
SUBURBAN HOME FOR RENT
Old Georgetown I'd. large 10
rooms. 2-stOry house located
on large let 1R the residential see:
the main thOrouGhfares into wash
ingtOn :. =. ideally suited for tour
ist home close to business
section Of Bethesda also car
and bus lines real bargain
at only &1OO month.
APARTMENT FOR RENT-Quebec
RI. n. W.; attractiVeIy furnished
rooms suitable Tor light hOusekeep=
ing privileges private hath
only. =,
TYPEWRITERS FOR SALE-Large
Typewriter concern g0ing out Of
business wonderful bargains
go. Call today.
These are "sideli0hts'' on some Of mann
atsrestin0 GdUeytisemeRtS TOW tCR JiR6 h
OdGV'S Classified Ads.
The Washington times., 1931-10-16

Plant Adds Workers

Anheuser- Busch, Inc, st. Louis,
has placed in operation a new
modern yeast manufacturing
plant at Old Bridge, N. j., on a
19-acre tract, 40 miles from New
York city and IS miles from Phila-
delphia.
The construction and opera
ton of this large new unit of the
AnheuserBuSch organization will
give employment to a great many
workers. ..at
The Washington times., 1931-10-16
CORPORATE TRUST SHARES

Graham, Parsons &. Co. have
prepared a special circular regard
ing the new accumulative series
of corporate trust shares, setting
forth an offer of exchange of
shares Of the new series for old.
The Washington times., 1931-10-16
VOTING MACHINE CORP

Directors of the Automatic Vot-
ing Machine Corp. have declared
a dividend Of so cents per share
on the prior participating stock,
payable November 16, to stock Of
record November 81. 49,:
The Washington times., 1931-10-16

FLORIDA TOURISTS

st. Petersburg, Fla, tourist,
registrations here since Septem-
Der i show an increase of APP
proXimately 20 per cent over the
like 1890 period. e =,
The Washington times., 1931-10-16
WASHINGTON STOCK EXCHANGE
SALES

SALES
Woodward & Lothrop COM. 10
030; 10000.
AFTER CALL
Potomac Electric Cons. SIS.
$4,000 1925.
Potomac Electric 6 per cent
pfd., 2@110, 5@11Oh, lO@11Oh.
Capital Traction Co., 5@25.
The Washington times., 1931-10-16

Canada -.'
New York funds in Montreal S117.50
premium on $1,000
Montreal funds in New York $117.5O
discount on $1,000.
The Washington times., 1931-10-16
D. TRADE AREA
CONDITIONS
SPOTTY
Hamilton Institute Finds
Trend Mixed, With Likely
improvements in October

Conditions in nearby Washing
ton trade territory are reported
spotty in the october Credit
and Sales Bulletin of Alexander
Hamilton Institute. "
The Maryland employment in
The Washington times., 1931-10-16
Good Hot Spot
Trade News

Anaconda opens jobs On
ph0sphate lands.
Kresge shares increasing
earnings.
'- Scott PAPER Co. sales and
earnings up.
Anheuser- Busch adds work
ers in new plant.
The Washington times., 1931-10-16

TYPEWRITERS FOR SALE-Large
typewriter concern GOing out Of
business wonderful bargains
Cali today -.
The Washington times., 1931-10-16

These are "sideliOhts'' on some Of many.
Interesting GdUertisemeRtS TOW tr1I 1iR6 IN
tod0vS Classified Ads.
The Washington times., 1931-10-16
Us Lead IndustraLs and SpeciaZties In Brisk Early Rally
New York Bond Market
Government Bonds

Liberty 31as ........
Liberty LIST Ns...:
Lab 4th ANS ......|
Treasury Ans ..--.I
Treasury As '54......
Treasury 5%s 'BS. 4
Treasury 3% al ~
Treas ass Jun 'I3.I
Treas 3Ss Mar ~. i
Treas ass 40.
Treasury IS g.!
The Washington times., 1931-10-16
FOREIGN EXCHANGE

NEW YORK. Oct 1s tL.N.sl.
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1931-04-30
APPLAUDs HoOvER's ACTION

sThus the Hoover plan Of handling
this problem has proved a success
and through his efforts the national
treasury has been saved a hundred
and fifty millions which the Southern
Senators wanted to present to their
constituents, the IanoIoros of that
country, to make election sure for
another term" is the pithy comment
Of the Window Reporter discussing
the Red Cross plan Of distribution
and drouth relief and Congressman
Clague's report Of conditions in Ar
kansas.
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1931-04-30
PUT 'EM ON THE SPOT

"When birds cease to appear in their
usual haunts, one is saddened and
misses their song, then look for the
starry cat prowling among the shrub
berry. There are two or three such
animals prowling around the writer's
yard these mornings and we would
be glad to have some Boy Scout give
them a free ticket to cats paradise,
if there is such place." suggests the
Window Reporter. Sam G. Ander-
son, said cats were all murderers af-
ter dark, and were one of the birds
worst enemies.