davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-07-21
IS[|GHT UPTURN
| On CURB MART

NEW YORK, July 81 UN.S0.
Bullish interests were able to
bring about a further slight up
turn in prices in curb market to-
day, although a few really impor-
tant changes were in evidence.
Turnover continued to drag along
at approximately the same pace
as yesterdays record.breaking slow
day.
The utility group was the stan
dard bearer Of the rising phase
Of the market. American Gas and
Electric was again the pace-Set-
ter, moving up Ia points to 69A.
Electric Bond and Share was 70
higher at 407s, and fractional
price improvement was recorded
in American and Foreign Power
warrants, American Superpower,
Associated Gas and Electric A.
Middle West Utilities and United
Light and Power.
Cities service edged up fraction
ally to 10b, net gain of u over
its previous close.
Vacuum was again the ace per-
former in the oil list, gaining al
most a point at At. Fractional
price advances were chalked up
in Standard Of Indiana, and
Standard Of Kentucky.
Specialties were irregularly
higher with the best ground.gain-
ers proving to be Great Atlantic
and Pacific. which was up 2
points at 203.
The Washington times., 1931-07-21
RESERVE BANKS
BUY MORE j. s.
SECURITIES
Additional Credit Released
Absorbed in Commerce and
SustainS New Policy, View

For four successive weeks Fed
eral Reserve banks have been pur-
chasing additional Government
securities in accordance with a
new policy Of credit expansion,
the Wall Street Journal reports.
Purchases during this period
have totaled $79, 900, bringing
the banks portfolio to $678, 8,000,-
600, the largest on record except
over the year-end Of 1880.
These purchases are the first
that have been made for any ex-
cept seasonal purposes since June,
1880.
n Aiding Commerce
Only a part of the additional
Federal Reserve credit thrown
into the money market by these
purchases has returned to the
Federal Reserve banks, support
ing reserve authorities in their
judgment that the time had come
when banks and commercial bor-
rowers would utilize additional
credit If it were made available.
Member banks have reduced
Sheir rediscounts since June II by
only $4,000, 900, while reserve
bank holdings of bankers accep-
tances have fallen $37,000,000,
nearly balancing the $4,000, 900
increase in monetary gold stocks
for the period.
Condition statements of men,
ber banks in New York city show
a substantial increase in outstand-
ing bank credit has resulted from
Federal reserve open market op-
erations during the past four
weeks. Total loans and invest
ments of these banks have in
creased $211 200, 900 in the period.
Trade Expansion
Most of the increase in loans
and investments this year has
been in "all other loans," which,
for the most part, are commercial
loans. Gain in the four weeks
period has been $188, ,O00, 900.
This is in sharp contrast with
all recent years. In 1880, the ex-
pansion was only $4,000, 900, in
1929 $42, ,000, 900. and in 1928 and
1927 there were contractionS Of
SAG, 100000 and $13,000.0O0, re-
Spectively.
Credit expansion is considered
by many economists and bankers
as an almost certain forerunner Of
improved commodity prices. The
$a0k fIn+ oll;&invoal nHarli&c a 80 ENa
ing extended in the form Of "all
other" loans, presumably to busi-
ness customers, is thus particular
1y significant from the standpoint
of commodity prices.
The Washington times., 1931-07-21
Siemens Companies
ReDdu N. Y. Credits

Dillon, Read & Co. announce
that Siemens & Halske and Sic
mems Schuckertwerke, German
manufacturers of electrical prod
ucts, have voluntarily paid off
short-term credits outstanding
with New York banks, anticipat-
ing their maturities by several
months. This action was taken
to avoid any possible service diff
cultieS in view of the exchange
restrictions imposed in Germany,
The Washington times., 1931-07-21
CAMPBELL SETS
SOUP RECORD .

''MOre Campbell'S tomato
soup has been consumed during
the past IL months than in any
previous year Of the cOmpany's
history"
This statement was made by
Arthur c. Dorrance, President
Of the company, who continued
"At the close Of our special
sale last autumn, there was
more CampbeII'St tomato soup
in the stocks Of dealers, whole
sale and retail, than at any
other one time; while at the
last taking of stocks in the
hands Of the trade, on June 3,
1881, the average supplies
throughout the country was no
more than enough. to meet nor
NAL requirements during the
two months that still inter-
vened before the commence
ment of the approaching pack
ing season"
The powerful advertising &C
corded the soups, and the mer
chandising support given dis
tributors, Mr.. Dorrance added
justified their confidence.
The Washington times., 1931-07-21
NeUU Haven Speeds
UD Freiqht Service

The final step in It's accelera-
ton of the less-than-carload
freight service has been taken by
the New York, New Haven &
Hartford Railroad, so that goods
will be delivered next day from
any point to any other point on
its lines, with a few exceptions.
Concentration points for the
new service are Boston, Provi,
dence, New London, Hartford,
Bridgeport, Putnam, Worcester,
waterbury and Pier 81, East
River, New York.
The Washington times., 1931-07-21
National Air Profit
Declines in Ounrter

NEW YORK, July 81 G.N.SO.
The National Air Transport, Inc,
today showed a net profit Of
$203,67E for the quarter ending
June 80, 1881, as compared to
$219,959 for the same period last
year.
For the first six months this
year the profit was $321,253 while
that for the same six months
last year was $347,227.
The Washington times., 1931-07-21
BY A. r. TOWNER
Stock Market Analyst Of A. r.
TOWner & Co.

TOWneF q Go.
The investor who desires to
purchase common stock equities
in times of depression is faced
with a serious problem, that Of
selection. There are now nearly
1900 issues listed on the New
York Stock Exchange, and it is
no easy task to choose q few
stocks out Of this great number
that will be the leaders in the
next bull market.
There are two schools Of
thought as to just how to profit
in the stock market in times Of
depression. One theory is that
you should buy the stocks that
have been the most affected by
the depression. The idea is that
they will recover very rapidly
when the depression lifts.
Timing Important
The other side believes that
companies which have weathered
the storm the best are the ones
to buy. Perhaps both theories
have a great deal Of merit.
If the investor is able to time
his purchases with the start of
the new up-trend in business, it
probably does not matter what
policy he pursues If he sells his
securities on the first good re-
bound out of the depression, when
business is approaching normal
again.
Reviewing market hiStory
around 1921, a major depression
similar to the present one, dis
closes that stocks after the first
upsuTge are very apt to react to
The Washington times., 1931-07-21
NEW Low COST
LIFE EPOL|C|ES
WRITTEN
First Few Years Little More
Than Term Rate, and Later
Dividends Reduce Expense
By FRANK F. LOOMS

In these times when there have
been so many heavy losses, at
least on paper. in stock market
and other securities, the demand
for life insurance has increased
very largely, particularly for as
much protection as possibly can
be secured for the least amount
Of yearly cost.
Some Of the life insurance COM
panies now are issuing polisies
which call for a very low rate
the first three or four years and
which convert automatically to a
regular life rate, thus eliminating
the hazards attendant upon pur-
chasing a So-called term policy
which neceSSitates at the end Of
five or ten years a complete
change if the insurance Is desired
to be kept up.
Dividends To Help
AS an example, a man, age IS
years, can purchase a life insur-
ance policy for $4,000 that will
cost about $100 a year for the
first three years. At the end Of
three years, the policy calls for
an annual premium Of about
SIP. Such a contract partici-
pates in the annual dividend
earnings of the company, and it
is expected that these dividends,
which commence at the end of
three years, will be Of sufficient
amount to reduce the cost of the
policy for future years to as low,
if not lower, than the cost for
the first three years.
Such a contract carries loan
and cash values as we'll as ex-
tended insurance value after the
third year. For instance, the
cash or. loan value at the end of
the third year is about $120: at
the end of the fifth year, about
$780,; at the end Of the tenth
year. about $640.
After the policy has been in
force for three years it will carry
itself without further payment of
premiums for a period Of about
two and a half years longer, and
after the fourth year, for a
period of four years; after the
fifth year, for a period of five
years, ETC.. and in case of the
death of the insured during the
extended insurance period, the
full amount of the policy, $4,000,
will be paid in cash to the bene-
ficiary.
Few Under $4,000
These policies, as q rule, are
not written for a less amount
than $4,000, but can be pur-
chased in larger amounts up to
81, 900 or $4,000 for the same pro
portionate yearly cost.
Under the above plan, q man
can purchase a life insurance
policy of 100000 and be sure
that the cost would not be over
about $1,000 a year. This sum
could be truSteed or an arrange
ment made with the company
whereby instead Of paying it in
a lump sum of 100000 to the
beneficiary, it would be paid in
monthly instalments for period
of 20 years or as much longer as
the beneficiary might live.
Life insurance is the one form
of investment that never has to
be charged to profit and loss &C
counts. There is no such thing
as a paper loss connected with
life insurance and its book value
at any and all times is an asset,
always in the black. never in the
The Washington times., 1931-07-21
BickfOrd Holders
Elect ; Directors

At a special meeting in New
York, stockholders of Bickford's,
Inc, voted to increase the num-
ber of directors to not more
than Is and not less than II.
Following additions were made
to the board: Edward J. Winters
Of Geo. H. Burr & Co., Lamont
s. Foster, of Foster Lunch Sys-
tenn Of San Francisco, which was
recently merged with Bickford's
and Frank F. Davenport, of Har-
riSburg, Pa.
The Washington times., 1931-07-21
GRAINS OPEN LOWER

CHICAGO, July 81 G.N.SO
Grains opened generally lower
today. Wheat was 3sc up to hc
down, Corn was "a to 1ac down,
and Oats unchanged to 1sc down.
Opening prices:
Wheat-July, 527s@53; Sept.
531s: Dec. 572s.
Corn-July 81; Sept. 5l%@
51A; Dec. As.
Oats-Sept. 263s; Dec. 29h.
The Washington times., 1931-07-21
Freight Rate
Increase FnUOred

An upward revision in freight
rates on hay throughout the
Western district was recommend
ed yesterday by examiners of the
Interstate Commerce Commission
They said hay is not bearing
a fair share of the transportation
burden at present. Arguments
will be heard on October IA.
The Washington times., 1931-07-21
Tonnage Is LOWer
For Panama Canal

Traffic through Panama Canal
during the first Is days in July
dropped to 201 vessels, a loss of
about one vessel a day from first
half Of June and the lowest
average in more than six years.
Tolls amount to $932,S78
against $942, POT in corresponding
period of June.
The Washington times., 1931-07-21
OVERCOME BY HEAT

RemeSius Lash, assistant in the
office of City Engineer Dunn, of
Alexandra, was overcome by heat
yesterday while working at Po-
tomac and taken to the Alex
andria Hospital where he was
treated by DR.. S. B. Moore.
The Washington times., 1931-07-21
Today's CHEEKY
News Lines

Campbell'S tomato soup
sales set record for year.
& COngOleum pays first divi-
dend since 1925.
Bonus paid employees as
firm scores slump talk.
Big clothing factories start
full-time work.
The Washington times., 1931-07-21
COngOLe1nl-NGirn
Resumes Dividend

Congoleum- -Nairn, Inc, declared
q dividend of Is cents on the
common stock, payable September
is, to stock of record August Is.
This marks a resumption of
dividends, the last previous pay
mentS having been made in 1925.
In that year $3.50 was dishursed.
The Washington times., 1931-07-21
Beechnut Packing
Net Profits SLlEnlp

NEW YORK, July 81 QN.S3.
The net profit Of the Beechnut
Packing Company for the June
quarter H. -ore Federal taxes were
paid today was $720,521.
For the same three months in
1880 the profit was 824,783.
The Washington times., 1931-07-21
GRANNY NET DROPS

NEW YORK, July 81 GN.SO.
The net profits Of the Cranky
Consolidated Mining Company
for the quarter ending June 80,
today was $7,4O5. For the same
period in 1880 it was $418,099 be
fore the payment Of Federal
The Washington times., 1931-07-21
To WALL
IN CORN BELT,
HANEY FINDS
Condition of Farmer Nearly
As Bad As in Cotton Region,
His Investigation. Reveals
By LEWIS HANEY

by LEWIS HANE1
Director Nov York University
Bureau Of Business Research
BLOOMINGTON, ILL.,. July 81.
In industrial centers, I am told
that business depends on the
farm. Here at Bloomington, Ill,
in the midst of the corn belt"
I am told that the farmer de-
pends upon business.
This is something to think
about. Rightly or wrongly, the
farmers believe that they are
the producers, and that the con-
sumner demand for farm products
is their only hope. You see, 1t all
depends on the point Of view.
Must Pull Together
guess we will all have to get
we'll together, Such towns as
Bloomington, however, certainly
depend on the farmer. They are
IS per cent corn, and bankers
watch corn. hog. and oats prices
like they watch cotton in the
South.
I will say frankly, that in my
opinion, the condition Of the
average corn belt farmer just now
is not much better than that of
the cotton farmer. His living con-
ditions are much better. His poor
position is not so chronic.
Has Lost Money
But he is in debt. He had a
poor crop last year. He has lost
money on oats and wheat this
year. His returns from milk have
been greatly reduced. And he is
either going to have very low
prices for his corn, or have his
crop cut by drought and hot
weather.
There is only one ray of hope
for any improvement here, and
that lies in a possible bumper
corn crop. Today the corn fields
look that way. They are in fine
condition, and a high yield per
acre is almost in sight. Like
cotton, the crop is being made
very cheaply.
The price Of corn is low. 1t is
only IS cents a busheI in Bloom
ingtOn today. But even that will
more than nay interest and taxes
and give a balance on Illinois
corn land.
Cattle Feeder Down
So far so good. But the cattle
feeder is absolutely down and
out. Oats do not pay fixed
charges. Income from milk cows
is almost at the vanishing point.
Say the average price paid for
land was 5000 an acre. Interest
at 512 per cent (Which is what
the insurance companies are
charging on loans) is $11. Add
So for taxes, which are a great
burden here. and you have
charges of $13 an acre without
allowing for operating expenses.
But oats are 20 cents a buShel,
and, even if the farmer got the
big yield of so bushels, that makes
only $12 an acre.
Hog prices are now favorable
for feeding operations. The ex-
pertS say, however, that this favor
able factor is temporary, because
the farmers are planning to raise
SO many hogs next year that
prices will not hold.
Hot, Dry Spell Hurts
If the present excessively hot.
and-dry spell is broken soon, there
will be a bumper corn crop. Then
prices would be lower, but bust
ness would be helped and the
farmers would be happier.
Just now, unfortunately, drouth
and heat are a serious menace
Sub-soil moisture is deficient. The
Mississippi River is near record
low levels. The Illinois River is
only two feet above the low-water
mark, and creeks are drying up
The winds are hot. Already some
corn leaves are curling to the
north of here. Corn needs rain.
The Washington times., 1931-07-21
COTTON MONEY.
PLEA To j. 8.
REFUSED
Treasury Tells Galveston
Group Currency Requires
More Durable Material

Stimulation Of the cotton mar
ket through the use Of this ma.
terial in the production of the
billions of dollars worth of paper
money produced annually has
been suggested to the Treasury
The Washington times., 1931-07-21
COFFEE FREIGHT LOWER

Ocean freight rates to New
York and New Orleans on coffee,
are now 40 cents a bag compared
with previous quotations Of so
cents a bag. It is understood
that lower rates are being given.
The Washington times., 1931-07-21
financial Neuvs Stocks Bonds Commodities and Comment
New York Bond Market
Fractions represent J2nds
1911 med.Is IOf l-S2

United States High Low Last
liberty ist AVS S2-47IO3 Sl1O3 9l1O3
Lib Ith ANS '33-3sl1O4 3Ol1O4 esl10! 30
treasury AVS ls47-52113 1Sl113 1919 lS
Treas Is '4l-64 l1O8 27I10S 27ll0S ~
The Washington times., 1931-07-21

Many people read this ad dur.
ing the ONE DAY it appeared in
the Classified section of The
Herald and Times and aside from
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-23
EDWARD C. ROBINSON
DIES AT HOME HERE
Native Of Washington Served Gov
eminent Before Entering
Private Business.

Edward Clark Robinson, a native Of
Washington. and one Of its best known
citizens, died yesterday afternoon al
his home in the Cortland Apartments
following a brief illness.
son Of the late Mr.. and Mrs. Will
liam Robinson, he received his educa-
ton in the public schools of Washing
ton, and at an early age became con
nected with the Treasury Department
where he served for many years.
Some years ago he resigned from the
Government service and entered pri-
vate business. At the time of his death
he was the representative in Washing
ton Of the jamestown Metal Equipment
Company
He was a member of the National
Press Club, the Columbia Country
Club. and the Washington Board OF
Trade
In addition to his widow, Mrs. Edith
Allen Robinson, and a son, Edward
Allen Robinson a student at Cornell
University. he is survived by a sister
Mrs. George Rea, and a brother, j
Clinton Robinson. both of Washington
Funeral services will be conducted al
All Souls Memorial Episcopal Church
Connecticut and Cathedral avenues, to-
morrow afternoon at 2 O'Clock.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-23
CAN'T FUNERAL RITES
AT MILLERSvILLE, MD.
Widow of Physician Died at Home
at Chastleton on Wed
nesday.

Funeral services for Mrs. Sue Adreon
CAN'T, who died Wednesday night at
her home in the Chastleton Hotel, will
be held in the Baldwin Memorial
Church, at Millersville, Ann Arundel
County, Md, at $3.50 o'clock tomorrow
afternoon.
Mrs. CAN'T was the wife of the late
DR.. Harry Baldwin Can't of Millersville
and the daughter Of the late Mai. Will
liam Tell Adreon and Mary Calvin
Adreon Of Baltimore.
She Is survived by three daughters.
Mrs. Edith CAN'T Duker, wife of j. Ed
ward Duker of Baltimore; Miss Sue
Elizabeth CAN'T. and Mrs. Margaret
Can't Haugen, wife of Lieut.. Lawrence
T. Haugen. U. S. N. and by a son, Mai
Harry Baldwin CAN'T Medical Corps,
U. S. A., now stationed in Hawaii.
Mrs. CAN'T always maintained her old
home. Hardy the. at Millersville, spend
ing the Summers there and the Winters
in Washington. She was exceedingly
active and maintained membership in
the Daughters of 1912. Four Rivers
Garden Club. Political Study Club in
Washington, Women's Republican Club
and the Women's City Club. She also
belonged to the Maryland State Society
in Washington and the Maryland His
torical Society.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-23
MEAT MERCHANT
DIES IN HOSPITAL
William J. Keane Will Be Buried
in Mount 0ivet Cemetery
Tomorrow.

william Joseph Keane, 6617 Grove
street, Chevy Chase, Md, member of
the T. T. Keane Co., Inc, wholesale
meat dealers at Center Market, died
yesterday at Georgetown University
Hospital after q short illness.
Funeral services will be held at the
residence tomorrow morning at ESQ
o'clock, followed by requiem mass at
the Church Of the Blessed Sacrament
at 10 o'clock. Burial will be in Mount
Olvet Cemetery.
Mr.. Keane was born in washington
~ years ago and has lived here since
He attended public schools In the Dis
trict Of Columbia and was graduated
from Georgetown University in 1905.
When in school he was prominent in
sport circles, a member Of the varsity
basket ball and other teams.
He is survived by his widow, Mrs.
Catherine Keane; son, william, r.,
and a daughter, Catherine Keane.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-23

FOUND
FOR LOST ANIMALS apply Animal Rescue
LsaEus. s49 Maryland ave: s.w Nat sos8
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-23

her residence, 15e Rhode Island avenue,
northeast, yesterday afternoon.
Mrs. Bowie was the widow of Leonard
Osborne Bowie, and the daughter of
the late Edward M. and Mahala Waters
Drew
She is survived by a sister, Miss
Claire Drew; a daughter, Mrs. Martha
Bowie Gibson, with whom she made
her home; two sons, Joseph Waters
Bowie Of Chevy Chase, Md, and Brice
Bowie, who lives at Riverdale, Nd, and
a number of grandchildren.
Funeral services will be held tomor-
row afternoon at the Church Of the
Ascension ut 2:30. Burial will follow
at Glenwood Cemetery.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-23
MRS. WILLIE D. BOWIE
DIES SUDDENLY AT HOME

Mother of Treasurer of Prince
Georges County Will Be Buried
in Glenwood Cemetery Tomorrow.
Mrs. Willie Drew Bowie, mother of
Brice Bowie, treasurer Of Prince
Georges County, and q lifelong resi-
dent Of Washington, died suddenly at
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-23
BANK DIRECTOR DIES

NEW YORK, October 23 CP.-Wal-
lace T. Perkins, 65, vice president and
director of the Chatham Phoenix Ma
tional Bank & Trust Co., died Wednes-
day night of overwork, the bank an
nourced yesterday. He once was con-
nected with the National City Bank
Of Chicago.
His widow and q son, Clifford L. Per-
kins Of Chicago, survive
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-23
STOKERS SENTENCED

KEEL, Germany. October % P.-
Five Stokers of the German freighter
Asia were sentenced to two months In
prison yesterday on charge of partici-
pating in strike in Russian ports 10
days ago.