davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
F|RMER STRUCTURE
IN TRADE IS SEEN
Dun's Survey of Industry
Says Production Costs
Must Drop.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, October 1.-THE dura-
ton Of the present period Of quiet bust
ness. falling prices and increasing I'M
employment has exceeded the expecta-
tions of many observers, says Dun's Re-
view Of Industry for the third quarter
Of 1881. In the course Of economic
changes in the United States during the
past two years the principle Of the
vicious cycle is well exemplif1ed Con-
tracing markets have led to still lower
prices and further reduced industrial
activity. These factors have induced
wage and salary cuts and increased I'M
employment. The buying power of the
public has been decreased in proportion
and the sales of goods of all kinds have
receded further.
During an era In which forces Of this
kind are constantly at work the business
structure is gradually being strength
ened. Concerns which are able only to
operate profitably in periods Of expan-
sion and imitation withdraw from busi-
ness and leave the field to those which
are equipped with sufficient capital and
managerial skill to Withstand adversely.
Prices, forced unreasonably high by in
discriminate buying, gradually seek lev
els where they more truly reflect in
| trinsic values. Consumer demand,
which had previously been satisfied by
goods of all kinds and all qualities,
once again is primarily for essentials,
with careful attention being given to
the relationship between quality and
price.
Since so many adverse influences are
at work concurrently, the adjustment Of
industry to the changing conditions is
painful and slow. The productive ca
pacity Of many industries is in excess
even Of the demands Of the preceding
expansion period, and the profitable
utilization of this excess equipment is a
problem of the first magnitude. Pro-
duction costs, even though decreased by
the decline in prices, must be further
reduced to yield a reasonable profit
from the drastically curtailed volume of
business available. Marketing cam
paigns must be conducted in accordance
! with the changed psychology and pur-
chasing power of the buying public.
Clearly, American industry has many
important problems to solve. and it
must solve them under unfavorable
pl1shed IN the last two years to correct
weakness in the business structure and
to lay a firm foundation for future
prosperity. A great deal still remains
to be done, and Of necessity more time
must elapSe before all is completed.
Disappointment at delay must be offset
by the heartening thought that, once
all adjustments have been made, Amer
| lean industry will be in a far stronger
position than ever in the past.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
BANKERS TO STUDY
STATUS OF FARMERS
Mortgage Experts Will Also Con-
slider Best Ways to Sell
Property.
Special Dispatch to The Star.

| Special Dispatch to The Star.
CHICAGO, October 1.-THE eco.
nomic well-being of the Nation as in
duenced by the condition Of agricul-
ture will command principal attention
at the eighteenth annual convention Of
the Mortgage Bankers Association Of
America, to be held at Dallas, Tex,
October 1929.
AN Economic Policy for Agriculture"
Is the title of an address by T. A. Muir
Insurance Co., Fort Wayne, Ind, and
Financing the Farmer" by Deane w.
Trick. Bankers Life Company, Des
Moines, Iowa, both speaking from the
| viewpoint of the life insurance COM
panies of the country, which institu-
lions now have nearly $4,000, 900
invested in farm mortgages.
David L. Wickens, economist Of the
United States Department Of Agricul-
ture, will speak on AN Economic Sur
vey Of Farm Mortgage Financing" in
which he will comment upon recent
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 dele
gates will exchange information on the
best methods of rehabilitating, renting
and selling farm properties that have
been acquired involuntarily by mortgage
investors. Including leading farm mort
gage bankers Of the agricultural States,
about 400 to 500 delegates are expected
from the 40 States in which the asso-
citation has members.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
FAVORABLE TRADE
NEWS AIDS STOCKS
Market Displays a Steady
Tendency During Weeks
Operations.
BY JOHN L. COOLEY,
Associated Press Financial Writer.


NEW YORK, October 17.-Heavy
shipments Of gold, a tightening Of
money rates and completion Of the ma
chinery which is to operate the National
Credit Corporation. occupied the atten-
ton OF the financial world this week.
Banking circles felt there had been
considerable improvement in confidence
as result of activities toward a loosen
ing OF frozen credit. The large New
York City banks have been urged by the
FEDERAL Reserve to extend the fullest
measure OF cooperation to their in
terlor correspondents and are said to
have already done much work in that
direction
Inc weeks business news contains
certain favorable elements. There were.
however. numerous small bank Suspen-
Sions throughout the country. while the
pond market, at least early in the week,
plainly indicated that banks were lioui-
lying their positions, partly because of
currency hoarding. The circulation in
crease was less rapid, amounting to
SAP 100000 compared with a rise of
$l6o 100000 in the previous week, but
the Total Is nearly a billion dollars
larger than year ago.
Market Tone Steady.
The stock market, on the whole, be-
naEed well. BY losing half OF its early
OCTOBER gains 1t completed what is
technically called a secondary reaction.
and then met support, which was en-
couraging to those who had feared fur
tner liquidation. 1t was apparent to
some that the market needed fresh in
centiVes to rally, but these were sup
pied In reports from Washington con-
corning the probability of early action
TO help the railroads.
whether or not the rise In the New
York Federal Reserve Banks rediscoiint
rate to 3l2 per cent was intended to
apply the brakes to the gold movement,
winch had been proceeding at record
speed, there seemed to be reason enough
Tor the higher rate in the fact that the
easy-money program had failed to ac-
compl1sh its purposes. There was no
demand for Reserve credit during the
many months OF low interest rates, and
OF idle funds. It is believed the more
normal money rates will be helpful
through giving the banks an incentive
to put money to work
Gold exports of more than $500, 0oo.-
900 since the British suspension Of free
payments mean, bankers point out, that
the redistribution so ardently desired
DeIOIe IL came WIN rush Is at last
taking place. There has been no sue-
gestion that the amount lost was en-
dangering Americas reserves, which
even now are comparable to those of
the Spring Of 1929 when the specula-
tive fever was running high. Some Of
the withdrawal doubtless reflects the
same passion for currency boarding
abroad that is being experienced here,
a psychological aspect of the times.
Steel Demand.
A more active demand for some steel
materials Is offsetting dullness in other
lines and. although the result Is about
standod, the industry feels more
cheerful. Automobile production Is ex-
pected TO be resumed on larger scale
as the time for new models arrives, and
farm equipment makers are showing
somewhat greater interest. Building
continues to lag.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
RETENTION OF STEEL
DIVIDEND RATE is SEEN
BY the Associated Press.

BY the Associated Press.
NEW YORK, October 17-Dow, Jones
81 Co. says 1t is considered probable that
the $4-a-share annual rate on United
States Steel Corporation common stock
established three months ago, when the
rate was reduced from 81, will be main
tanned by declaration Of a quarterly
dividend OF 81, at the quarterly meet
ing Of the Finance Committee and d.
rectors Tuesday.
THE management Of the corpora
tion," Dow. Jones says, delayed reduc-
ton Of the common dividend much
longer than was justified by earning
and when the cut was made, it was To
a 81 annual rate, compared with IS q
share which had been anticipated even
in some authoritative quarters. In view
Of this conservatism, it Is logical to be-
lieve that another reduction will not be
made at this time.
Factors which will carry consider
able weight with the Finance Commit
tee and the directors include indications
in the past two weeks Of moderate i'm
provement in steel buying, as inquiries
have grown somewhat larger than the
average in recent months, and the fact
that the corporation will again have a
special income item in the third quar-
ter which may permit a balance being
earned on the junior shares"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
special'Dispatch to The Star.

special Dispatch to The star
NEW YORK, October l7-John s.
Burke, president Of the Midas Lode
Corporation, has issued an urgent plea
to the mining industry Of this country
pointing out the danger OF a pro-
United States and especially emphasiz-
ing the part which 16-to-1 silver would
play in this movement. He favors
60-cent rather than $1.29 silver and
says this can be achieved in the imme-
diate future through an agreement be-
tween the three leading countries and
especially with the British Indian
ONCE.
TT should be obvious especially to
the producer" according to this au-
thority, that the movement for 16-to-1
dation who previously have been the
sworn enemies Of higher silver prices
and that any movement that tends
to elevate commodity prices in this
country above those of competing coun..
tries Is against our best interests and
especially against the profitable pro-
duction Of the precious metals.
Greatest Period Of Prosperity.
1.-THE greatest period Of positive pros
perity in this country was from 1928
to 1929 when it was one Of compare
tive commodity price stability with
mining costs at gradually decreasing
ratio. This was due. in large part,
to truer working Of the gold standard
Failure to recognize the importance of
a higher rather than q lower silver
price doomed any attempt of the Brit
iSh-Indian office to maintain higher
sterling at the sacrifice Of the white
metal. If the ritish-Indian ONCE had
not embarked upon its rather unique
departure as producer Of silver, i.e.,
removing 1t from the Indian treasury
for the purpose of depressing silver
prices and below the agreed minimum
Of A. cents. most of England'S present
troubles would have been avoided.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
SAFE, HARBOR POWER
CARRIED OVER RIVER


SAFE HARBOR, Pa, October "
Wire-stringing crews Of the PennSyl-
vania Water & Power Co. have begun
the dif1cult task Of carrying the trans
mission lines from the Safe Harbor
hydro-electric development across the
SusQuehanna River.
The crossing, which Is over two rail-
roads and a mile stretch Of river, is
between hills some 800 feet in height.
The length Of cable required from the
switching station on the Lancaster
County side Of the river to the first
Of the towers on the York County side
is 5000 feet.
There are two spans Of 5000 feet
each between tower on an island near
the middle Of the river and those on
the high hills on either side. The diff
ference in elevation between the cross
arm OF the island tower and those of
the towers on the hills Is over 200 feet.
In all, 10 cables are to cross the river.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
CURB ISSUES MOVE
/. IN NARROW RANGE
Market Turns Irregular Aft
er RaIIying in the
First Hour.
BY JOHN A. CRONE.

Special Dispatch to The Star
NEW YORK, October 1.-THE Curb
Exchange, after an irregular oeening,
moved toward higher levels today, only
to slip of around the end of the first
hour
Electric Bond & Share showed Arm
ness as did Cities Service. Standard
Oil of Indiana eased and Gulf Oil was
of fractionally, which was true also
Of International Petroleum, but Impe-
rial Oil advanced.
The advance in coal quotations in
this and neighboring States caused an
increased demand for Glen Alden
Coal, which lifted the stock more than
a point. The companys earnings dur
ing the Summer are understood to have
been at a rate which covered that por-
ton of the 81 annual dividend on the
capital stock
Declaration OF an extra dividend of
25 cents by Charts Corporation, in
addition to the regular 50-cent quar-
terly payment and the usual rs cent
quarterly common dividend on Penn
Mex Fuel Co., had a bracing effect
on the miscellaneous industrials and
oils.
Packing shares like Swift and Swift
International bettered. Carnation Co.
was moderately active but unchanged.
Chaln Store Stocks. Inc, Softened, but
some Of the grocery chains notably
Great Atlantic g. Pacific Tea, moved
upward.
Fox Theaters and General Theaters
Equipment preferred led the advance in
amusements. Western Maryland pre-
ferred. which netted a gain of 10 points
Friday, lost half of it on its first sale
today. Pennroad Corporation was a
shade higher.
National Fuel a. Gas firmed and
Cord Corporation and Durant Motors
were little changed, but Stutz Motor
lost "a after its recent rise, based on
official statements about the company's
reorganization progress.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
Interest Rates Announced.

NEW YORK, October II R-The
Committee Of Bankers on Foreign De-
posts in New York advanced the maxi
mum interest rates payable on foreign
deposits yesterday by one-half Of 1
per cent. The new demand deposit
rates are 1 per cent Tor balances of
banks, bankers, corporations, firms and
individuals and ~ per cent on de-
posts Of central banks and foreign gov
ernments. The new rate on time de-
posits IS 2 per cent for, all classes of
accounts.
It is estimated that net foreign bal
ances In New York, including Short
term investments. aggregate $500. ooo. 900
now,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
WARM WEATHER DELAYS
BITUMINOUS RECOVERY
Special Dispatch to The Star.

6pcClaI OlSpatCn 70 4ne star.
NEW YORK, october 17.-Warm
weather kept the bituminous coal mar
ketS Of the country under its thumb in
September and delayed the expected
upturn in domestic business until the
last week in the month, Coal Age
reports. In spite of the prevailing
temperatures, however, slight but
definite improvement in the domestic
situation was noticeable.
Dealers showed some disposition to
replenish stocks and price advances
gave promise of a more satisfactory
realization in the coming months. The
steam trade continued in its long
standing slump. Slack and screenings
quotations were surprisingly firm, how
ever, easing OF in only limited num-
Der Of cases.
September proved to be a slow
month in the principal anthracite
markets of the country. Warm wealth
er. coupled with extensive stock re-
refreshments in August, slowed the
movement from the mines and pre-
vented the usual Fall recovery Buck
wheat and rice were the favored sizes.
and stove displaced egg as the most
active domestic size. Chestnut inn
proved its position slightly. Pea was
neglected, and decreased consumption
Production of bituminous coal in
September IS estimated at 31,S06, 900
net tons, an increase Of 1872 900 tons
over the August output of 30,534, 900
tons, but decrease Of 6,826,0O0 tons
from the total in September, 1880. An
thracite production is estimated at
4,352, 900 net tons for September. This
compares with 4,314,000 tons In the
preceding month and 5,199, 900 tons in
September, year ago.
The Coal Age index Of SPOT bitumi-
nous prices preliminary settled at
1881 for September, against 1904 for
August. Corresponding weighted sv-
erage prices were. September, $1.61N;
August, $1.58A.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
GERMAN EMPLOYMENT
IN FURTHER DECREASE

The number of persons employed in
German industry declined during Au-
gust by 3.4 per cent compared with
July of this year, while the number Of
hours of employment declined at the
same time by per cent showing that
many plants have been doing on short
time, according to a report received
by the Commerce Department from
Assistant Commercial Attache Douglas
Miller at Berlin.
Miller said these figures have been
compiled by the Government StatiSti-
cal ONCE and that it was apparent
that employment in industries Of many
producers goods had fallen of in Au-
gust about twice as much as in those
industries making consumers goods.
This Is apparent, he added, not only
in the building trade but in iron and
steel, leather and other branches.
An exception to the reduction in en-
ployment Is made by the furniture in
dustry, which reflects a recent ten
dency Of investors to put their spare
cash into furniture in fear Of a possible
imitation.
The figures cover 5000 plants en-
ploying $500 900 persons normally.
SAanohai Ch;aa ~noor%~ %hak silk
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
Baltimore Markets

Special Dispatch to The Star.
BALTIMORE. Md, October IL
Potatoes, 100 pounds. 75al.0O; sweet
potatoes, bushel, 35a50; beans, bushel,
1.00al.50 yams. barrel, LOCAL IS; beets,
per 100. l.50a2.50; cabbage, bushel. 40a
so; carrots, per 100, 2.50a35o; lettuce,
per crate, 3.00a3.50; caulifiower, crate,
1.00al.50; celery, crate, 1.75a2.75; lima
beans, hamper. 65a2 90; okra, 2ooa2.5
peppers, hamper. 25a35; onions, per 100
pounds. 1.75a2.00; spinach, bushel, 40a
so: tomatoes, hamper, 25a75; Gamers
stock, 40a60; apples. bushel, 5oal.25
cantaloupes, crate, 1.25a1.75.
Dairy Market.
Chickens, young. 2oa22; Leghorns,
18a20; old hens, l8a24; Leghorns, old,
12al6; ROSTERS, l2al4: ducks, l2a20
pigeons, pair, 15a20; guinea fowls, pair
25a55.
ggs-Receipts, sol cases; current,
18a26; hennery whites. 34a36; nearby
f1rsts. %; Western firsts, 20.
Butter. good fancy creamery, 32a37;
ladies, 20a22; process, 23a24; store
packed, 15a16.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
Oil Agreement Made.

LONDON, October II R.-The An
glo-PerSian and Royal Ouch Shell oil
groups yesterday announced the forua-
ton Of company to insure the closest
cooperation in the distribution of their
products throughout the United King
dom and Ireland. The business at pres
ent Is conducted by the British Petro-
leum Co. and the Shell OH Co, of
Mexico.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
New York Cotton
Special Dispatch to The Star.

NEW YORK, October 17.-Under
the largest volume Of business of any
short session this year. cotton prices
today moved steadily upward 81 bale
and closed around the top, 1s to %
points higher than Friday. December
sold at ga. compared with the low rec
ord made last week Of SAT. an improve
ment Of nearly cent a pound.
Block after block of contracts were
taken from the ring at advancing quo
tations. Foreign interests were heavy
buyers. Spots were advanced IS points
to $50.
Cotton range:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17

substantial number Of channels for the
use Of -proflt-making institutions.
such as educational, political, labor and
fraterna1 organizations.
(CopyriEht. 1919
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17

Nicolas Monarda, the sixteenth cen
fury physician Of Seville, wrote the
first treatise on American plants.
sssesa s-zN
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17

Dividend rate5 in dollar: based last quarterly
payment sEx dividend.
Payable playable adjustment
dividend Plus 81 Plus 81 in stock
X m
n Paid regular rate.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17

Shanghai, China, reports that sill
sales to Europe and America are I'm
proving.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
Freedom Of the Air.

To preserve the freedom OF the air. 1t
Is proposed. this commission should be
forbidden to create or grant any rights
persons to control channels Of COM
munication, and there jAould be pre-
served, free from conEhercial use, a
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
BONDS.

Copyright. 1881, Standard Statistics co.,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-17
FOREIGN BONDS.

YW-Without warrants.
NEW.
Tt-When issued.
Milford chronicle., 1931-10-16
Smith TLUeLUe Feet High

Heat does all sorts of things to
people. Such as-makes them bark
back at dogs, fish without bait on
the hook, sit under a shade tree
when it's 95 in the shade, close the
office because the heat is so severe
that only tennis or gilf will bring
relief, catch cold in refrigerated
theatres, sneeze while looking at The
sun and journey to the big noisy
metropolis of New York for a Vaca-
ton.
The latter proclivity explains one
reason why there was little depres-
sion among theatrical merchants
this past summer along Broadway.
If for no other reason people went
to the movies to get cool. And for
other reasons the great horde spent
their hot earned dollars to see ex-
cellent revues including the Band
Wagon" Third Little Show"
"Shoot the Works." and the Fol
lies" Everyone of these making
money and one in the group playing
to standing room every night and
at two matinees a week. What an
August!
In the movie colony, where neigh
borhood releases at lower prices
and the 25-cent news reel invasion
made competition pretty keen dur
ing the summer, the manager of one
theatre thought long and hard over
his problem.
What to do? What to do? Must
keep interest up. So he looked at
the glitter and glare up and down
Mazda Lane and resolved that de-
spite the manyiness of electric ad-
vertising signs he could still do
something different. He called in the
experts about his idea and they told
him about a motograph-a device
that makes for a moving sign.
Then he sprung his idea on them.
Milford chronicle., 1931-10-16
MILE LANE
(Near Harrington

Mr.. and Mrs. Oswald Mai and son
and Stephen Wroten were visitors
of Mr.. and Mrs. S. L. Morris OF
near Centerville, Md, on Sunday af-
ternOOn.
Mr.. and Mrs. ElwOod Wroten spent
the weekend with his brother and
family, Charles WrOten of Philadel-
phia.
Miss Addie Collision spent Sunday
afternoon with her cousin, Mrs.
Jack Rust of near Greenwood.
Mr.. and Mrs. Norris Wright and
daughter spent Monday with their
parents, Mr.. and Mrs. Rufus Wright.
Mr.. and Mrs. John Slagle of n ar
Denton were Sunday visitors of
Mr. and Mrs. Charles Finkbiner and
family.
Mrs. Herbert Thomas of Will
mington spent the weekend with
MI. and Mrs. Charles Cannon and
family.
Mr. and Mrs. Frank Anthony and
family spent last Saturday and Sun
day with their cousin and family.
Mr.. and Mrs. George Reynolds of
near Philadelphia.
Richard Jenkins is spe-ding some
time with Mr.. and Mrs. Harry Sauls-
bury.
Milford chronicle., 1931-10-16

He proposed having this photograph
operate a running sign with letters
twelve feet high, the letters to spell
any name he happened to choose at
random from the telephone book.
Just any name. Smith for instance
twelve feet high. What an idea
Goodness knows there must be
countless Smiths coming 70 his
house every evening.
Imagine he said explaining his
stunt, "a whole family of Goldbergs
and their friends coming down from
the Bronx to see their name flash
ing in the theatre sign"
A visiting movie proprietor from
the hinterlands plans TO so the
Broadway Snowman one better. The
details are all still pretty indefinite
with him but after a few c"Liing
drinks one night. he cooked up The
stunt. His rlan calls 70: the use of
a photograph too. But this is only
part of it. He is going to run 2oE-
test of some L:nG announcing il
first in the newspapers and over the
Iadio in the course of his regular
air program. There will he a nane
selected, say, twice a week. This
name will be entitled to four passes
or some other reward. But instC ad
of announcing tho name in the pa
pers, the announcement viii be
made on the Illuminated sign. Yes,
he will have to run the initials, too.