davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
PREPARATIONS REDUCTION
is URGED BY BANKER
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, June 16.-While Wall
Street yesterday was turning anxious
eyes toward Germany. where matters
have been somewhat improved by the
increase Of the Reichsbank rate and
the resultant improvement in German
bonds, Leopold Zimmerman, 78-year-old
New York banker, issued call for con-
certed action by the United States and
her former allies to remit or at least re-
duce substantially Germany's repara-
lions payments.
Mr.. Zimmerman Is head Of thinner
man & Forshay. His faith in Germany
eight years ago caused his firm to fail
because of the collapse of German ex-
change at that time. Entirely owing to
MIR. zimmerman's efforts the firm was
re-established.
81 am not swayed by mere sympathy
for the German people" he said today,
but am convinced that If her former
foes remain relentless the consequences
for them will be far more disadvantage
Gus than If the reparAtions payments
were RENTED, or at least substantially
reduced. Can the civilized world afford
to drive a highly cultured nation Of
sc, 000, 900 people to DESPERATION"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
By CHARLES F. sPEARE.
.cial pIsnatch to The Star.

Special Dispatch to The Star.
NEW YORK, June 16.-The advance
over the week end In the rate of dis
count Of the Bank of Germany from S
per cent to per cent had senti-
mentally good effect in European and
American banking circles yesterday. in
contrast with the reaction that usually
follows when central bank Is COM
PEELED to impose higher rate on Dor
rowers than prevails in competitive
markets.
The per cent rate in Germany COM
pares with az per cent In England, 2
per cent in France and Switzerland and
5 and az per cent in Scandinavia. It
contrasts with the Federal Reserve Bank
rate of IL per cent in New York, per
cent In Boston, 21a per cent in foNr
other Federal Reserve districts and to
81 per cent in the remainder of the
Federal Reserve areas. The only Euro
pean rates that until yesterday were
comparable to that now fixed by Ger
many were those Of 6 per cent In Spain
and Austria.
Bond Prices Stronger.
Gables from Vienna yesterday after
noon stated that the Austrian govern
ment bank had raised its rate Of redis-
count to 71a per cent. The Bank of
Hungary yesterday raised its rate from
So to z per cent.
German bonds in London and In New
York were somewhat better on the be-
lief that in the advance in the redis-
count rate of the Reichsbank the credit
situation could be controlled and with
drawals by foreign lenders modified.
Up to the end of last week the Reichs-
bank lost nearly $225, 100000 in gold
and foreign exchange, reducing its re-
serve ratio substantially though not to
the percentage regarded as dangerous.
Severe criticism is directed at the
American bankers who have been with
drawing credits from Berlin. Many of
these credits represent renewals of con-
tracts that have carried over many
months. In the political panic Of last
September France was the worst Of
fender in withdrawing capital from
Germany. This she did from political
motive. The American Withdrawals are
based entirely on the fear of American
lenders that a crisis in German politi-
cal affairs is threatened Foreign COM
ment on this attitude, as well as on the
recently demoralized condition of the
market for dollar bonds, is that the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16

Commerce Commission refuses further
valuation hearings in proceedings under
which company has protested tentative
valuation placed on properties.
Marmon Motor Car-May sales to-
tailed $50 cars.
Ohio Oil-Investigation Of Montana
subsidiaries gas properties ordered by
Public Service Commission.
Peoples Gas Light g. Coke to lower
house heating gas rates upon introduce
ton of natural fuel; other rates to re-
main unchanged.
Phoenix Hosiery discontinues under
wear division.
Pullman, Inc.-Single-se sales Of
subsidiary, Pullman Co., in year to April
80, the first full year reduced rates were
in effect, totaled 6,546, against 76,495
in previous like period.
Seiberling Rubber May net profit be-
fore depreciation and taxes $89, 1877;
April net before taxes only $60,76e.
Standard Oil Of New Jersey cuts tank
keroseen prices cent gallon except
in Delaware.
United States Cutting down
clerical forces Of subsidiaries considered
over-manned
Brooklyn Manhattan Transit rejects
Untermyer unification plan on ground
It is not legal on proper basis for public
hearings; would discuss plan when APP
proved and advanced by transit COM
mission.
Chrysler Corporation-w. p. Chrysler
reported putting $10,000,o00 into low
price car project
Howe Sound Co. declares so cents
quarterly common dividend; paid rs
cents previously.
International Railways of Central
America May gross income of 27.5 per
cent; five months. off 29.9 per cent.
Lehigh Portland Cement omits quar-
terly common dividend; paid IS cents
May 1.
Newmont Mining omits 81 quarterly
common dividend.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
ADVANCE IN GERMAN BANK RATE
= AID TO EXCHANGE MARKET
American and European Banking Circles
Favorably Impressed by Raising Of
Discount Charge In Berlin.

United States cannot expect to assume
the role Of world banker until she Is
able to meet situations of the present
nature with grss1 calmness.
Bank RunlOr Denied.
The president of the Reichsbank has
denied the report that private German
banks were involved in the troubles of
the Credit Anstaldt of Vienna This has
been one of the rumors on which fright
has been created over the status of
German institutions to which large
sums Of American capital have been
loaned. Important reparationS pay
ments pending makes probable the
calling Of general banking con-
ference shortly to discuss the situation
in Germany and possibly to ne
gotiate another loan. This, obviously,
would be strictly bankers affair and
would be carried In the portfolios Of
the banks, since 1T would be impossible
eminent issue with the present per
cent bonds and the 51a per cent issue
at such substantial discounts.
It Is intimated that France would be
willing 10 subscribe literally to such q
loan If she could be satisfied that the
present government in Germany would
remain intact and that the recent de-
creeS which were authorized for the
purpose Of balancing the budget could
be put In operation.
There are several Americans now In
New York who have had close affili-
alton with German affairs and have
been watching events there In the last
two weeks closely. They are s. Parker
Gilbert, former agent for reparationS in
Germany and now q member of the
arm Of J. P. Morgan g. Co.: Shepherd
Morgan, who was associated with Mr.
Gilbert in Berlin and is now vice presi-
dent Of the Chase National Bank, and
Vice President Fraser of the Bank for
international Settlements in Basel, who
Is on a visit to this country.
None Of these men has so far spoken
publicly on the latest developments in
Germany. From their statements in
the past, however, in which conditions
similar to those that have now de-
veloped were dealt with, the conclusion
might be drawn that they, and those
associated with them, believe that Ger
many will come through the present
crisis with clean record so far as the
payment Of interest and principal on
her non-political debts Is concerned.
That is what mostly concerns American
investors at the present time.
(Copyrisht, 1s3L)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
CURB STOCKS FIRM
! AS MARKET CLOSES
Late Rally Gives List an Up
ward Trend After IT.
regular Day.
BY JOHN A. cRoNE.
Special Dispatch to The Star.


NEW YORK. June 16.-The curb
market ended strong and active today
after backing and filling for the major
part Of the session.
Prices we're not much higher on the
day at the end, but there was a good
sprinkling of fractional net gains and
even fair sized gains in a few issues
that responded to special buying.
One such issue was Vacuum OIL
which advanced sharply in the last few
minutes to above Al for gain OF over 3
points. An official of the company de-
MED reports that the terms Of the pro-
posed merger with Standard OIL OF New
York had been changed. The same on
cial said that no notice Of opposition to
the merger had been received from the
Barneson interests in California, as
also had been reported.
Other oils, such as Standard Oil Of
Indiana, Standard Oil of Kentucky and
Cities Service were firm. Leading util-
ity and industrials shares Cancelled ear
lier losses. The opening was weaker
and trading was small at the start.
While there were a few Oppressive
items in the news, notably the omis-
sion of the quarterly dividend by New
mont Mining, there was nothing of a
general nature to account for the SELL
ing. Those working for the advance
simply withdrew bids and retired from
the scene temporarily, while the bear
faction put in a few tentative offerings
to test the market
Newmont's action evidently came as
q surprise, for the stock closed Monday
at 27K4 and did not sell today until the
actual announcement came out that the
dividend would not be paid. Then it
sold of abruptly to 235s in five sue
ceSsive sales. Later the loss was ex-
tended. However, other mine shares re-
manned firm, notably Anglo Chilean nj
trate and Hudson Bay Mining.
IndustrialS slipped in quiet trading
Aluminium Corporation dropped ~
points at one time. st. Regis Paper
eased and Swift & Co. was lower at 20
Driver, Harris, however, had a small
gain.
Electric Bond & Share, which sold in
fairly large blocks during the first few
minutes later settled down to a steady
series of sales around IS, but met sup
port each time it dipped below that
level. There was also show Of Arm
ness in utilities, including Associated
Gas & Electric A, American Cities
Power & Light B, American & Foreign
Power warrants, American Gas g. Elec-
tri,, American Light & Traction, Ameri-
can Superpower, Brazilian Traction
Eastern States Power B, Middle West
Utilities, Niagara Hudson Power, United
Light & Power A and Utilities Power
& Light.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16

REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS

NEW YORK, June 16-The following
is a summary of important corporation
news prepared by the Standard Stats
tics Co. Inc, New York, for the Asso-
ciated Press:
News Trend.
Preliminary statistics on average
daily crude production in the United
States for the week ended June IL pre-
sent a more favorable picture than the
increases shown in the past three weeks.
Total daily output, which averaged g.
443,603 barrels, represents decrease Of
SOTO. Last weeks report Of the Ameri-
can Petroleum Institute revealed an in
crease Of 1880 barrels, against q gain
Of approximately Is, 900 fortnight ago.
While it is believed that the develop
ment in East Texas has been largely
responsible for the continued weakness
Of crude prices, noteworthy evidence Of
sustained strength has been generally
lacking since the Inauguration of cur
tailment programs in 1929. Consider
able apprehension is now felt through
out the industry that unrestricted i'm
ports from Venezuela, the worlds Sec
ond largest producer. will be resumed
about July / unless there is an extern
sion Of the agreement which has par
TALLY curtailed imports from that
L.
Venezuelan imports has been substan-
TALLY diminished by the low level of
domestic prices prevailing in the last
few weeks Recently oil in the new
East Texas field sold as low as IL cents
a barrel
The likelihood Of a general advance
in sheet steel price for the third
quarter, following report that one of
the leading independents will increase
the level by So and SO ton, Is an tndi-
cation Of serious attempt of all steel
makers to place sales on more profit
able basis. This announcement made
by Inland Steel Co. was accompanied
by reduction Of So to SIS on numerous
products by Chicago steel jobbers.
While it is not generally believed that
much business will be done at the
advanced level until August, 1t is ex-
In an effort to sustain the mark-up.
The Companies.
Chicago g Northwestern Railway
cuts salaries Of clerical force and main
tenance workers, ranging from 10 to 20
per cent.
Columbia Gas g. Electric Supreme
Court upholdS commissions valuation
of properties of Logan Gas, sub
sidiary.
Copper Range - Stockholders of
Naumkeag Copper to act on sale of
property to this company.
Federal Water Service reduced stated
value of class "A" stock to 100000 by
retiring $4,000 shares class "A" stock.
General Cigar cuts White Owl cigar
price to cents from 6 cenN.
Finance Co. OF Americs (Baltimor'
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
Heads Bankers Trust,

NEW YORK, June Is DPS. Sloan
Colt was elected president Of the Bank
ers' Trust Co.. an $500, 000. 900 institute
ton, becoming the youngest head
among the largest Wall Street f1nan-
cial institutions. Mr.. Colt is 38 years
old, and scion of a family long promi-
nent in the high circles Of finance. He
Is a grandson Of the late Samuel Colt,
one-time president Of the Lackawanna
RailrnaA
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
A. 7. ct. CHART REVEALS
IMPROVEMENT IN SALES
spscial pispatch to rhe star.

special Dispatch to The star.
NEW YORK, June l6.-Confiden
is growing in the street with regard to
the business situation and the stock
market. This attitude seems to be well
founded, inasmuch as the chart kept
on general business by the American
Telephone & Telegraph Co. is reported
to show that goods are going into con-
sumers' hands at . greater rate than
production.
It is expected therefore, that this
changed condition will result shortly
in definite signs of betterment in trade
and industry. The declaration Is also
made that by reason Of reduced cost
Of production and large crops this year
the purchasing power of the farming
element will b greater than it was IN
1880. This Is also expected to contri-
butte substantially to expansion in gem
eral business.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
Grain Market
BY the Associated Press.

BY the Associated Press.
CHICAGO, June 16.-Of1cial state
ments which were generally interpreted
as meaning that Government-sponsored
agencies would contiue to compete with
private interests in the grain trade had
a bearish effect on wheat prices today.
Increased movement Of newly harvest
ed domestic Winter wheat was also
a weight on values. New-crop deliveries
Of wheat sold within a fraction Of the
seasons lowest figures.
Wheat closed nervous, unchanged to
cent lower; corn, b-A advanced;
oats, Nv on, and provisions varying
from cents decline to a rise of 10
rAYfe
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
HOME LOANS SMALLER.

MINNEAPOLIS, June 16 Especially -
Average size Of loans on city residential
property funded by Investors Syndicate
during May showed a decrease of over
8 per cent from the April average, &C.
cording to q report issued by e. E.
Crabb, vice president Of the company.
Total May FINDINGS by the company
gained over the April total, the report
showed.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
HIGH YIELDS NOTED
IN INSURANCE STOCKS
Special Dispatch to The Star.

WptCIdI DISpaGch 20 Ihe btAr.
NEW YORK, June 16.-The capital
stocks of so of the leading fire insur-
ance companies are now quoted on a
basis to yield from 81 to as high as
per cent, according to a survey by
Cannon, Stephan & Nelson.
THE long-drawn-out declines in fire
insurance stocks in a large measure"
says the survey, lis due to a reconcen-
tration of holdings resulting from the
liquidation of small, widely scattered
and weakly held accounts. In the face
Of this decline, the underwriting expert
ence of the leading companies through
out last year and SO far this year has
been entirely satisfactory" The stocks
of many of the companies are now sub
stantially below their liquidating values.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
Business Notes
BY the Associated Press.

BY the Associated Press.
NEW YORK, June 16.-Mail orders
received by resident buyers in New York
continued exceedingly heavy yesterday,
as stores continued their preparations
fer promotional events. Low-priced mer-
chandise. particularly in the ready-to-
wear field, was in principal demand.
Popular-priced dresses in sheer cottons
and silks, some sportswear numbers and
beachwear were outstanding items.
The longer lengths and fitted lines Of
the new fur coat models, substantially
different from last years styles, are ex-
pected to create new business for the
trade this year, as 1890 fashions will be
outmoded. The lower prices are also
looked for as q stimulant. Volume buy
ing on furs Is expected to get under
way within the next two CT three weeks.
Uncertainty over Fall lines is delay
ing manufacturers Of sterling pewter
ware in preliminary work on Inerchan-
disc for the coming season. As far as
sterling producers are concerned, their
work is held up because Of style prob
lens. Most Of the manufacturers are
planning to concentrate on low-eId hOl-
lowware, but have been unable to get
satisfactory style guidance from buyers.
Brisk buying marked the opening day
of the Fall furniture trade In New York
Monday Producers were encouraged Dy
orders, pointing out that in other years
buyers spent the first few days in in
speeding merchandise and did not place
orders until late In the week. Southern
furniture manufacturers specializing In
low-end and medium price case goods
attracted most of yesterdays business.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
Markets at a Glance

NEW YORK, June Is R.-Stocks
steady; rails overcome early heaviness.
Bonds irregular: railroad issues sag.
Curb irregular; rally follows slow de-
cline. Foreign exchanges firm: Ger
man mark strong. Cotton higher;
trade buying and local covering. Sugar
steady; better spot demand. Coffee
lower; easier Brazilian markets.
CHICAGO, June Is (P).-Wheat
barely steady; improved Canadian crop
reports. Corn firm; dry weather
Southwest. Cattle irregular. Hogs
steady.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
Cotton Consumption.

NEW YORK, June Is GP).-Consump-
ton of cotton by mills Of the United
States in the season ending July 81
probably will be about 100000 bales,
the New York Cotton Exchange Service
estimates. This viii be the smallest
in any season since 1920-2l, in which
this country used only 1895, 900 bales.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
PARIS BoURsE PRICES.

PARIS, June 16 Cp).-Price changes
were irregular on the Bourse today.
Three per cent rentes, 80 francs so GEN.
times. Five per cent loan, 103 francs
IS confines.
Exchange on London, 1874 francs 21lz
centimes. The dollar was quoted at rs
francs So centimes.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
New York Cotton
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, June 16.-After holding
within a narrow range for several hours
today, an active covering movement de-
veloped on the cotton exchange and
prices rose sharply q quarter of cent
in the last hour, ending with gain of
about a quarter Of cent on the day.
The increased spot demand in evil
dence the past 10 days created a scar
city Of contracts and prices moved up
ward rapidly under more general buy
ing. Spots were advanced 80 points
to sos.
Cotton range:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
Building Permits.

NEW YORK, June Is LR-May
building permits issued in SIS cities and
towns in the United States totaled
$139,467,981, compared with Sl70,115,-
$50 in April, S. w. Straus & Co. reports.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
CHICAGO STOCK MARKET

CHICAGO, June 16.-Following is
the complete official list CT transactions
In stocks on the Chicago Stock Ex-
change today:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
NEW YORK CURB MARKET s s; q :s : s s::

Note-An stocks are sold in one hundred-snare Iors
excepting those designated by the letter eOs) (20Os
which shows those stocks were sold In ODD lot&
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
sHORT-TERM SECURITIES.
tReported by J. 4 W. selism

Allis-c Chalmers Co. Sc 1897. !. 1914 GGooifh
american Tel q Tel; 5lss 1913. ll0M il63S
Batavian Pet. Corp. 41zs 1912 03sk 04is
Bell Tel. of Canada SIS i957. -. 16i i0l
California Pet. Corp. 5las 1888 80 sa1s
Chi. Northwestern r. r. IS 1888 1914 1915
Chicago Rock Island g 1884,. 92ss 93N
Chile Copper Co. IS 1947. S6 86N
Denver 6 Rio Grande 4iss 1885 s3h 81
Gen. Mot. Accep. Corp. IS 1897 l03h IO3N
General PUBLIC Service 51as 1889 % 90
Goodyear T. & r. SIS 1857. ..... e5M e63l
Grand Trung OF Canada IS 1885 1914 10e5z
Gulf Oil Of Pa. IS 1897. 1914 100
Humble Oil 51as 1882. ......... 1924 102A
Internal. Match Corp. IS 1947. e7h S6Aa
Marland Oil SIS 1882. ........... 1914 102
National Dairy Prod 5Ms 1913. 1914 1OlN
New York, Chi. g. st. L. IS 1892 95M 90
Portland General Elec. IS 1885. 1046 104h
Republic Iron g. Steel SIS 1910. o6s 90
Sinclair Crude Oil Co. 5l2s 1888 102 1929
Southern Pacific SIS 1894. ....... 103M 10334
Standard Oil N. Jersey IS 1916 l03% 1884
Standard Oil N. York 4l5s 1851 9634 80
st l.. Inns. Ry. r. e. As 1888 96Is $3.50
Union Elec Light & Pwr SIS 1898 1929 1033s
Union Oil Co. of Calf. SIS 1885. 90 1914
United DRUG CO. s. 1883 ;s;i. 1922 looo0" lSlu
Western Electric Co. IS 1884: 1865 l0I
Wheeling Steel Corp. 512s 1913 87l2 S1W
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16

Harp playing, once so-popular In Ire
land, is being revived there.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16

Dividend dollars AN
~ nual EEK dividend Psrtly Plus
Payable
~ stock Plus % in stock Plus 81 In
~ stock. 81
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
TREASURY CERTIFICATES.

(Reported BIZ J. q w. selieman q 90
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-16
FOREIGN BONDS.

WYNN warrants. XW-Wltnous war;
rants. New. wt-When issued.
The Washington times., 1931-01-29
WATER BLAMED
/ FOR DISEASE

LURAY, Va, Jan. 29.-The
health department of Virginia,
collaborating with local physi-
clans, is battling to stamp out a
strange and fatal malady among
children in the Stanley neighbor-
hood of this county.
The disease has been diagnosed
as black diphtheria. Several
deaths have occurred in the Stan
ley section. Two children, who
died from the disease, were buried
in the same grave near that
place. After the grave had been
made, one coffin was placed on
top Of the other.
The first appearance of the
disease takes an intestinal form,
working upward through the
body, terminating with fatal eff
feet in the throat. Low water
courses, for months, harboring
vast quantities of filth and decay
ing vegetable matter, is blamed
for the outbreak of the unusual
disease.
Except in rare cases, older
people appear to be immune.
The Washington times., 1931-01-29
Month-End Remnants
Hosiery

Women's 79c Hosiery. full fash.
ioned celanese; also pure silk,
sheer, scanned back, fashion S0C
marked hose. Broken sizes ~
Women's $1.25 and S1.5O Silk
Hose, discontinued and broken
lots-famous makes. Hem and
picot tops. service and sheer
weights. Broken sizes and 24C
ShaQeS
Women's S1.25 Rayon.and.WoOl
Hose. full fashioned. SIN art
shades. 1rregulars-broken 7Qc
sizes
Girls SOC Sport Hose. q length;
plain or novelty elastic cuff tops.
Irregulars. Sizes 6 to OQC
91h Observation-Disclosures. "O~
Boys SOC Golf Hose. elastic
cuff tops. Neat colors. Ir. OSO
regulars. Sizes to 1015.. "V~
Main Floor-Goldenberg's
The Washington times., 1931-01-29
Month.End Remnants!
Knit indies

Children's 79c RayOn Slips,
panties and bloomers. Pas 9EO
tel shades. Broken sizes. OO~
Children'S 35c Rayon Vests,
\ bodice top. Small 1O1L0
SLASS 80
Boys 79c Fleeced Union Suits,
gray, long sleeves; ankle SOO
length. Sizes 6 to 16. .... OAN
Women's 79c Boomers, part
wool with rayon stripe. SQC
Small sizes. O"~
Women's 79c Cotton Union
Suits, with rayon stripe. 400
Knee length. h.............. "N
W0men's 89c RayOn Panties,
boomers, vests and combina.
tions. Pastel shades. ESN
Broken sizes. OO~
Main FlOor-Goldenberg's