davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
WHEAT VALUES DROP
ON WEATHER NEWS
Predictions of Rain in Domestic
Territory Result in Selling
Tactics.
BY the Associated Press.

cJ the ASSOCldteu SreSS.
CHICAGO, January 17.-Wheat fell
more than a cent a bushel today and
finished at the bottommost point
reached this week. Other grains SYM
pathiZed with wheat weakness, which
was more or less due to predictions of
rain In domestic Winter wheat terri
tory that had been complaining of mois-
ture shortage. Corn was also depressed
by prospects of a record corn crop in
Argentina and by Argentine corn prices
that would permit Argentine corn being
delivered duty paid in the United States.
Wheat traders gave attention to a
statement credited to Chairman Legge
Of the Federal Farm Board that Amer
lea would never get rid of its excess
wheat by selling it abroad, and that he
suggested feeding of wheat to livestock
in order to reduce the present wheat
surplus. Sellers of wheat, however,
contended that wheat feeding would not
provide remedy and that use of other
corn substitutes such as oats we're keep
ing prices down. Announcements of
cheaper offerings of Argentine wheat at
Liverpool were also subject of COM
ment.
Corn went lower with wheat, but met
with enlarged commission buying, and
showed power to rally. Oats followed
corn
With estimates that as many as
10000 hogs would be received in Chi
cago Monday, provisions declined.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18

the stock market outlook. They believe
that this year will show a good, steady
market rise. This, if it comes to pass,
will be factor also in Frightening the
business outlook
But, after all, what we need most
now is conf1dence-faith that the
native resources of our country and the
genius of our business leaders will soon
show us the way to better industrial
conditions. If we have confidence, the
other factors in return to normal
times will take care of themselves.
While certain industries were hard
ness didn't feel the pinch of depres-
sion. The sales reported by so
companies showed a decrease of only
0.56 per cent. The falling off in bust
ness for the full year amounts to only
about l per cent.
Such sales, with prices considerably
lower than they we're in 1929, show
that many mere goods were disposed
of by the chain concerns than in the
so-called boom year.
Chain Store Outlook.
Chain store executives, in view of
the facts they have at hand, are opti-
mistic as to the future. 1t seems as if
to judge business trends by reason of
the distribution of their stores all over
the country. Statistics show that l8
of the companies increased the number
of their employees over 1929 by more
than 8 per cent and raised wages In
the same period by more than IL per
cent.
AS to our own business, we are plan
ming to expand. We already have Is
stores under lease for opening this year
and will add to this number as the
opportunity presents itself.
Our business abroad showed a nice
increase in sales over the previous year,
both in Great Britain and Germany.
The expansion program of our foreign
companies is being carried on vigorous
ly. We have at present 26 locations
under lease in Great Britain and z
under lease in Germany for 1881 addi-
tons to present stores. During 1880
we opened Is new stores in Germany
and SO in Great Britain.
This policy of expansion shows th'a
we are fully confident that this will
be good year for retail business.
Copyright, 1881, by North American News
paper Alliance.)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
RE|LLY|S ELECTED
TO BANK POSITION
Credit Mems Official viii AS
sumo Federal American
Post March |.

John A. Reilly, secretary manager of
the Washington Association of Credit
Men, has been elected one of the vice
presidents of the Federal-American
National Bank & Trust Co., and will as
sumo his new post March l, according
to announcement yesterday by John
Poole, president of the bank The
other officers were all reelected.
The new bank official is native of
Washington and. is a son of the late
Capt. Martin Reilly, former commander
of the sixth precinct. He graduated
from Business High School in 1921 and
received his degree of bachelor of laws
from Georgetown Univerity in 1924.
He is member Of the bar of the
District.
As Secretary-manager of the Wash
ington Association of Credit Men, he
has been actively identified with some
of the leading insolvency cases in this
District in recent years. In the interest
of creditors he has vigorously prosecuted
cases involving commercial fraud. He
has also enjoyedsa unique experience in
recognizing and directing the opera
tons Of enterprises in matters Of credit
and finance.
In September, 1929, he was appointed
to the faculty Of Columbus University
o444SC bAldO I4Il4S LldS Uccu
courses in corporation finance and
credits and collections. He Is also
teacher Of law and credits at South
eastern University and has Just
completed series Of lectures in COM
mercial law, conducted under the
auspices Of the Washington Chapter Of
the National Institute of Credit. Mr.
Reilly is member of the WASHINGTON
Board Of Trade. and former president
Of the Business High School Alumni
Association.
Federal-American directors elected
other officers as follows: John Poole
president; William ]. Eynon, Wilmer j
Waller, Charles B. Lyddane, and Will
liam G. Johnson, vice presidents
Charles D. Boyer, cashier; Joseph D
Yerkes and H. H. Shackleford, assistant
cashiers; Erkskine Gordon, trust officer
Aubrey o. Dooley and T. T. Keller, as
sistant trust officers; Leon Tobriner
general counsel; Arthur J. Linn, con-
troller and Willard S. Yeatman, audi
tor.
Officers at branches: Fifteenth and Z
streets-Royfe E. Boiling, F. P. Harmon
jr., F. E. Ghiselli, vice presidents, ano
H. j. Donoghue, assistant cashier. Du-
pont Circle-Luther E. Schreiner vice
president, and w. c. Baden, assistant
cashier. Pennsylvania. avenue anC
Twentieth street-E. Gerstenberg, vice
president. Brookland-J L. Sherwood
vice president. and William H. Martin
assistant cashier.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
SHORT SALES IN BANK
STOCKS ARE SCORED
Public Confidence Should Not Be
Subject to Bear Attacks,
Says Publisher.

Short sales in bank stocks by specu-
lators, who for selfish gain undermine
the faith of the public in banking in
situations, should be legislated against,
contends Louis Guenther, publisher of
the Financial World who says:
One OF the main objections voiced
by conservative bankers to listing Of
bank stocks Of the New York Stock
Exchange was that they would be sub
jected. to short sales and such opera
lions would tend to undermine conf
dence in the stability of an institution
subject to such an attack Now the
bulk OF transactions in bank stocks are
handled in the over the-counter mar
ket
But short sales have been made
even in this restricted market and in
one instance it is claimed, with such
deadly effect that it produced run on
a bank which reached such proportions
that, Tor the protection of depositors,
the State had to close the institution
This run was precipitated over night
and had its inception in rumor spread
throughout the financial community
that there was not even a bid for the
stock of this bank
II there is any group of securities
which should be absolved from short
selling 1t is bank stocks. These insti-
tutions are too close to the people and
their safety ever to be assailed by spec
ulative operations conducted for selfish
gains. A strict law carrying heavy pen
alties should be enacted that would ef-
fectively outlaw short sales in bank
stocks. Public safety demands it,"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
S34,O)O,OI|O SLUMP
IN NEW FINANCING
Maryland Corporations Put
Out Fewer Securities in
1890 Than in 1929.
Special Dispatch to The Star.


BALTIMORE, Nd, January IT,
Securities issued by public utilities of
Maryland under the approval of the
Public Service Commission were $34,-
100000 less in 1880 than in the issues
OF the previous year, it is revealed in
the annual report of the State regula-
tory body, which is now being edited
for publication.
The authority of the commission was
granted to the utilities to issue securi-
ties in the form of notes, stocks and
bonds to total value of $l8,O32, 598.04.
In 1929 the security issues had a total
valuation of $50 ,347 900.
The largest single issue permitted by
the commission last year was that of
the Consolidated Gas. Electric Light &
Power Co. for bond issue of $780,
900. In the previous year the S25. OOO,-
600 convertible gold debenture notes of
the Central Public Service Corporation
held the highest monetary value.
During 1880 the security issues which
received the approval of the commission
were from is different corporations, one
more than IN 1929. The issues were
made from among the 155 utilities
which come under the jurisdiction Of
| the commission and which have a total
1858. - -O'
In the utility classification there are
30 steam railroad companies, II electric
railroads, A electric light companies,
10 gas companies, gas and electric
corporations, % water companies, 6
telephone companies, 2 telegraph COM
panies, express companies, steam
boat groups, bridge organizations, a
sleeping car company and other COM
DanieS which do mt con1a 1Ipdar opv 80
these group heads. -, >.
There were 1874 corporations under
the jurisdiction of the commission in
1929, but it was explained by members
Of the com iSsicn that the decrease in
the number for this year was due to
the merging of companies or by. the
purchase method. -.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
LOW STORE STOCKS
AID TO BUSINESS
Lower Prices Also Declared Vital
Factor in Economic Readjust-
ments Now Under Way.
Special Dispatch to The Star.

Spec1al D1Spatch 70 The Star.
NEW YORK. January 17.-Extreme-
ly low inventories in department stores
present an encouraging aspect to the
business situation, in the opinion of
j. H. Lewis of Goodbody & Co., who
points out that out of 10 classifications
carried by the stores in November only
Cd linens and handkerchief and (2)
musical instruments and radios, show
an increase in stocks compared with
the same month of the preceding year.
Among the largest declines in inven-
tories were % wooden goods, with Is
per cent; (2) silks and velvets, with
1873 per cent; CD luggage and other
leather goods, with 14.6 per cent, and
"a books and stationery, with 145 per
cent.
With commodity prices the lowest
since 1915" says Mr.. Lewis, with retail
food prices down to the low level of 1922,
with the cost of living lower than at
any time in the last IL years and the
purchasing power of the dollar the high
est since April, 1916, we have accom-
plished much in the way of economic
readjustmentS. When rents, retail prices
and wages are further reduced, it will
be distinctly encouraging develop
ment.''
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
MORE FACTS URGED
IN ANNUAL REPORTS

The Financial World advocates still
greater publicity of corporate operations
and greater clearness of corporate re-
ports. IF the shareholder is, after all,
the actual owner of the corporation,
should he not have complete and ac-
curate knowledge of the operations of
his business?" asks the paper. COR
should this information be reserved ex-
clusively for the management, remem-
bering that the latter are in reality the
employees of the shareholder"
There is little room for complaint in
the case of the railroad reports and
those of the larger utility companies, but
in the case of many of our industrial
corporations, including some of the most
prominent ones, there still exists a
tendency to make an annual report tell
as little as possible to the share holders.
who, after all, are the real owners Of
the enterprise"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
RAW SILK FUTURES

NEW YORK, January II (SpeciaD. -
Raw silk futures were active and higher
today. Commission house operators,
dealer interests and houses with i'm
porting connections we're buyers. Up
town operators appeared on both sides.
Trade operators, Japanese interests and
prominent cotton houses were sellers.
The advance was stimulated by strength
in the japanese market as well as by
optimistic reports from the local mar
ketS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
ITALIANS PURCHASING
AMERICAN SECURITIES
Special Dispatch to The star.

Special Dispatch 70 The Star.
NEW YORK, January IA local
brokerage house has received from
Milan, Italy, an order to buy long list
of high-grade stocks and bonds of
American railroads, industrial and util-
ity companies. The order totals APP
proximately 100000 and comes from
italian investors. This is the second
such order received by the same firm
from Milan recently, bringing the total
to around $350000, or approximately
100000 Ira.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
so PER CENT EXTRA VOTED

Directors Of Minneapolis Honeywell
Regulator Co. have declared an extra
dividend of so cents share on the
common stock and the regular semi
annual dividend of $3.50 share, both
dividends payable February IA to stock
holders of record February 3.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
LIFE INSURANCE SALES.

NEW YORK, January II P).-An
analysis of 1880 life insurance sales
made by the Mutual Benefit Life In
surance Co. of New York shows the
number of persons insured last year
was practically equal to the previous
years total, the decrease for the year
being a slight reduction In the average
per sale. AsnnMi
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
TOBACCO SALES FAR
BELOW 1890 AVERAGE
Special Dispatch TO The Star.

Special Dispatch TO The Star.
DANVILLE, Va, January 17.--Dan-
Vile warehousemen and tobacco deal
ers estimate that leaf sales on the To-
cal market will total 100000 pounds.
Statistics show that to date this sea-
son 36,746,32l pounds of the product
have been sold for $3,918,769.82, for an
average of 1887 cents which Is far below
the average ct this date last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
gical, engineering, building and paper

gical, engineering, building and paper
declined.
BerIin.-The optimistic tone which
marked the first days of the new year
already has gone, though business is
relieved at the settlement of the Ruhr
coal wage dispute and gratified at the
German success in the Berlin sugar
negotiations which resulted in q Ger
man export quota for the next five
years of almost double the amount al
lowed in the original Chadbourne plan.
Department store sales in November
were the lowest in 1890 and IA per cent
below the volume in November, 1929.
Indicative of their growing popularity
is the remarkable expansion of one
price stores. Four leading chains, in
Guiding the Woolworth subsidiary in
Germany, increased sales So per cent
last year over the 1929 record.
Business is interest4i in the combina-
ton Of American railroad and German
Shipping interests,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
COTTON PRICES FIRM
ON SMALL TRADING
Failure of Mill Labor Farley Has
Little Effect on
Market
BY the Associated Press.

BY the AsSoclated Press.
NEW YORK, January 17-Trading
in cotton continued quiet today, and
prices fluctuated within a range of 4
or points.
The failure of the negotiations for a
settlement of the labor disputes in the
Lancashire Mills, making the lockout
notices effective today, was diSregarded
in both the Liverpool and local mar
kets, apparently, and the undertone was
generally steady. After selling up to
1923 at the start on some week end
covering, March eased off to 1913 and
closed at 1919, with the general mar
ket closing steady net l point lower to
2 points higher.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18

Bowen, vice president and counsel; A.
G.. Neal, vice president and controller;
II. M. Keyser, secretary assistant treas
urer and assistant COUNSEL A. M.
Fisher, treasurer; William L. Clarke,
assistant secretary treasurer; H. w.
Kelly, assistant secretary.
The Executive Committee was elected
consisting of Clarence F. Norment
chairman; Woodbury. Blair, Edwin c..
Brandenburg, Daniel j. Callahan, F.
w. Doolittle, Robert v. Fleming, VIII
liam r. Ham and Eugene Thompson.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
MoODY'S DIVIDEND.

Moodys Investors Service has de-
clared the regular quarterly dividend OF
rs cents per share on the participating
preference stock of the company, pay
able February Is to holders Of record
February !.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-18
BANK DEPOSITS GAIN
IN MONTGOMERY COUNTY

Reports from Montgomery County,
Md. banks show total deposits of $13,-
553,939.29 on December 81, 1880, the
date of the last controllers call This
compares with deposits of $13,492,-
81572 on the same date in 1929, a sub
stantial increase. Deposits in each bank
on December 81 follow, the Chevy
Chase Savings Bank, although in
Washington, being included in the list
because of the large number of depoS-
itors who live in Montgomery County
Sandy Spring Savings InStitu-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-07-20
HOME BREW is SEIZED
Three Persons Are Held on Blind
Tiger Charges by Police.

Deputy sherifTs confscated $50
quarts Of home brew and arrested
three persons on blind tiger charges
in suburban raids over the week.
end.
Those under arrest are: Mrs
Nora Stobaugh, 4552 Rockville road;
William j. Schneider, 3779 Rock
vile road, and Roy Pope. 4450 Ber-
tia street.
A police squad Saturday night
raided the Lakeview Inn, 526 North
Missouri street, seized ten gallons Of
alcohol, and arrested Pete Dan
bridge. Negro, proprietor. on a blind
tiger charge.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-07-20
RAILROADS. Low
REVENUES LAID
TO COMPETITION
Trucks, Planes, Pipelines,
Waterways to Blame,
Commission Told.
BY II. o. THOMPSON
United Press STAFF Correspondent

WASHINGTON, July 2o.-Compe-
tition Of motor trucks, pipelines.
waterways and airplanes has been
largely responsible for the present
financial plight Of the railroads. the
interstate commerce commission was
told today.
Fairman Dick. New York invest
ment banker and director in the
Milwaukee and the Boston 81 Maine
railroads testified at the hearing on
the railroads petition for Is per
cent rate increase under question
ing by Commissioner Joseph East
man that the competition had had
an important effect in undermining
public confidence in railroads as a
form of investment.
Eastman took up the questioning
of Dick after the weekend recess.
Dick began his testimony Saturday
on the fourth day Of the commits
Bion's hearings.
Refers to Bonus
you are asking for more money"
Eastman said to Dick. The gov
eminent Just has given the veterans
more than S900,000,000 referring to
the veterans loan bilD. Did that
help revive prosperity"
Il don't think 1t did Dick an
kwered. But l got mine"
Eastman recalled Dicks statement
of last week that railroad secur-
ates in 1906 were regarded as a
profitable form of investment.
Our records show Eastman
said, that railroad stock in 1906
paid interest of 4.01 and in 1880,
when you say you began to have
grave fears for the railroad situa-
ton, railroad stock paid 6.13 per
cent"
Hopes DwindIed Last Fall
Dick answered that the fears of
1880 were based on realization that
the depression would last longer
than at first believed:
There was a feeling Of conf
hence among railroad people in the
spring of 1890" Dick said. THE rail-
road people seemed to think things
would be better. But a general feel
ing Of fear became manifest in the
autumn, along about October"
After expressing the opinion that
public utilities whose securities Dick
compared with railroad bonds,
usually feel the effect of depres-
Sions much less than railroads
Eastman turned to the question Of
railroad competition.
Economy "SlOw Cure.
us it not true" he asked, that
decreased confidence has been
caused by motor truck, pipe line and
water ways competitionP"
That undoubtedly has had a
large effect" the witness replied.
Then it is your contention that
the government must increase rates
or regulate your competitors" East
man continued.
Dick replied in the affirmative.
Don't you see any way of work
Ang out the situation by effecting
economies Of operations?"
We might muddle through The
cure in that method, however, would
delay the return of confidence of
investors for many years."
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-07-20
CITY VISITED BY AZ, 724
Conventions Result in Spending of
$2,SS1,S62, Davis Figures.

Maintaining its pace of a conven-
ton a day, indianapolis was visited
by 42,724 persons from all over the
continent during the first six
months of 1881, the convention bu-
reau of the Chamber of Commerce
has announced.
This attendance represents an in
crease of S,032 over the first six
months of 1929 when business was
booming. it was pointed out by
Henry T. Davis, manager of the
bUreau. approximately $2,381 $50
were spent by these visitors, it is
estimated
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-07-20
NABBED IN BURGLARY
Kentucky Man Found Near Pool.
room Smashing Gum Machine,

Police today held George Camel.
25, of Middlesboro, KY, on bur-
glary charges after they said he adj
mitted breaking into poolroom
at 1912 North Illinois street oper-
ated by Nick Demetroff.
Camel was found Sunday night
near the poolroom as he was smash
ing a gum machine, police said.
cigars and $50 also were found in
his possession, they reported.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-07-20
OPEN AUTO LIGHT DRIVE
State, County Authorities Assist
Police in Safety CAMPAIGN.

Three-way drive against autoists
whose cars are lighted improperly
was opened today in an effort to
reduce the large number of acct
dents.
Police Chief Mike Morrissey an
nounced that state police and dep
uty sheriffs will aid in the arrest
campaign against owners of autos
that have no tail lights and improp-
er parking and head lights.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-07-20
MAYOR WRITES WALKER
Sullivan's Letter to Gotham Execu.
tive to Be Put on Plane.

The first night air mail through
Indianapolis on the transcontinental
route will carry a letter from Mayor
Reginald H. Sullivan to Mayor
James j. Walker, of New York.
Miss Gertrude Murphy, secretary
and stenographer in the mayors
Office, will hand the letter personally
to the pilot at municipal airport to
night when the T. e. w. A. plane
lands there to pick up the Indianap-
Oils mail.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-07-20

PUBLIC AUCTION

The following merchandise will be sold
ct public auction by the Big Four Ry. 90
New York Central Lesseel, in their
Unclaimed Freight Station. Corner Capitol
ave and south ST. indianapolis Indiana,
this merchandise may be made tuesday.
July 81, 1881, from 8 q. m TO $50 .. m
Auction viii start promptly ESQ A. m.
Wednesday. July az, 1851 i steel III.
Dbl lubg oil; / Dbl earthenware: 2 cs.
candy; 20 bags poultry supplement; i
drum asphaltum; chairs: Is ctns. paper
butter boxes S. u, 81 ctns display Ak
lures. 80 bxs. Honey Boy Cracker jack;
] cs. circulars: 20 cs and , kits paint:
2 hxS. and ] crt. carnival tent; I ctn'
washing fluid in bottles: etns. dry goods.
II bags stock salt; cs. chewing gum; s
ctns.. pictures, ctn. chair seats; ! crt.
small buffet. lamps. stove parts. candles.
pore. washing machine tubs. iaundrv
trays. radio cabinet, soil pipe. hrooder
stove, fernery; ! accompaniment white
pore. kitchen sink, cs. auto door glass:
4 pc; rubber. suction hose 3 in. By Is t. /:
70 sheets plakterboard: ! factory wash
sink, used Pontiac coupe.
J. x. VANCE T. g. A.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-07-20
Legal Notices

WE will sell at public auction goods storeu
n the names Of w. o. Perine and Henry
Smith Tor storage charges at 10 A. M
Aug. I. 1881; Jacobs Van and Warehouse
Co. sos Sutherland avenue.