davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
BOND LIST STEADY
IN QUIET MARKET
German Dollar Group Is Ex-
ception to Trend-Do-
mestiC Issues Firm.
BY r. H. RICHARDSON.

Speclal Dispatch to The Star.
NEW YORK, July 6.-Though Ger
man dollar bonds dropped to 3
points today because of the new OBJ
stacles brought out by France against
President Hoover's debt holiday plan,
the rest Of the foreign and domestic
investment list had steady under
tone and prices, in many instances,
showed firmness
The French insistence on payments
in kind was not acceptable to WASH
ington, but it was indicated that the
State Department expected a favorable
agreement today.
There was a new attitude In Wall
Street--a feeling that the flip already
given general trade and commodity
prices by President Hoover's proposal
had been sufficient to give a long term
impetus which will carry business out
OF the depression. For this reason
many domestic issues, notably the
junior rails, had strong tone today,
despite early weakness in stocks.
There were advances in Baltimore &,
Ohio Convertible 4l2s, Boston g. Maine
SIS, MiSSouri-Pacific A SIS, Pennsylvania
434s. Southern Pacific Abs of 1869,
while unchanged prices-or, at least
unimportant declines-ruled in Frisco
4l2s, Erie IS, International Great
Northern Adjustments, Denver 81 Rio
Grande Western IS and st. Paul SIS and
adjustments.
Industrials also were firm. United
States Rubber SIS gained a point. Shell
Union IS were 2 points higher. Texas
Corporation SIS were firm. Prime sea-
soned issues were unchanged or a
shade higher, with most of the activity
in such bonds as American Telephone
SIS, Consolidated Gas 5l2s, Philadelphia
Co. SIS and American Water Works SIS.
United States Governments were I'M
changed or a shade lower Municipals
were unchanged in an active market.
In the foreign list the only weak spot
was the German group. Young plan
512s dropped nearly 2 points at one
time. Dawes PREPARATIONS Is were of
nearly point, but subsequently recov-
cred partially. German Central Bank
Is and rs eased. German municipals
like Berlin 6i2, and industrials, such a.
United Steel Works 6l2 and German
General Electric 6s, also recovered after
early losses.
Much of the trading in the balance
of the foreign list was in Argentine IS
all maturities of which were firm tc
fractionally higher. Brazilians started
lower, but recovered and went higher or
the day Australians were firm. Sc
were japanese.
While no important new bond issues
were announced for distribution, the
Libbey Owens Ford Glass Co. an
nounced that 100000 of convertible
notes will be shortly offered to finance
acquisition OF the National Plate Glass
Co The success Of this issue will prob
ably be the cue for a number OF indus
trial flotations that have been awaiting
a favorable market.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
POST HELD
NOT DIPLOMATIC ONE
Premier Says High Commissioner
of Canada Is Political Off
Ger of Government.

OTTAWA (SpeciaD The high COM
missioner for Canada in London is not
a diplomatic officer in the sense in the
usual meaning of that term, it was
stated by Prime Minister Richard
Bennett in connection with the appro-
priation of $132,260 for the high COM
missioner and staff. His position with
respect to the government is one of
the most confidential character, the
premier said.
The question was raised by former
Premier Mackenzie King, who recalled
that when the Bennett ministry as
sumed Office in August, 1880, Vincent
Massey was high commissioner for
Canada. having previously been Cana
dian Minister Plenipotentiary to the
United States for three years. Mac
kenzie King expressed the view that
the position of high commissioner is
the highest of all diplomatic offices
belonging to Canada. the commissioner
being. the agent of the Dominion, not
Of political party. 1t was on that
understanding that Mr.. Massey had
accepted the appointment, he said.
Premier Bennett read to the House
the order in council passed July "a,
1880, four days in advance of the fed
eral election transferring Mr.. Massey
from Washington to London. In reply
to the inquiry of the Liberal leader as
to why Mr.. Massey had been obliged
to resign. Mr.. Bennett explained that
after he had interpreted to Mr.. Massey
his conception of the duties of the
high commissioner the diplomat ac-
cepted the situation and, not being a
supporter of the policies of the Bennett
ministry, rendered his resignation. Had
he remained at Washington he would
not have been dealt with differently
from the Canadian Ministers to Japan
and France, Premier Bennett stated.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
OUTLOOK IN STEEL
INDUSTRY BETTER
Producers Now Hope for
Better Business in Second
HaIf-Year.
Special Dispatch to The Star.


PITTSBURGH, July 6-Sellers and
buyers of steel alike have now turned
their eyes hopefully on the second half
OF the year, being supported by prece-
dent as to seasonal variations and by
the more sanguine feeling in all circles
created by the debt moratorium pro-
posal
In every year in which there has been
Autumn improvement in steel, August
has slightly exceeded July in actual
production, and the lowest producing
rate has been in the forepart or mid
die Of July. Prospects now are that
July will run a few points below the
SO per cent representing last Deem
ber's rate, which would be closely in
accord with the average seasonal show
ing OF active years. Steel has had re-
markably wide seasonal swings and has
undergone no other change in the last
SIX months as to total tonnage The
automobile industry has done better,
after seasonal allowance, than in the
last months Of the old year. while rail-
roads are not doing so we'll. Weekly
estimates of the steel-producing rate are
not particularly Illuminating Just now,
a Few departments or plants being
closed this week on account of the holi-
day, while others when closing for the
holiday will remain closed next week
The rate for the five days of this week
is probably not over "a per cent. against
about 81 per cent last week Next week
Is likely to be lower, but the month of
July should easily be distinctly above
80 per cent
Second-quarter steel ingot production
may be forecast at about 7.400 900 tons,
against 100000 in the first quarter,
or 7l2 per cent decrease, a decrease
which is supported by precedents in
some active years, though not by all
Unit costs may be estimated a trif1e
higher in consequence, while in wire
products, strips and sheets invoice
prices have been slightly lower.
Whether earnings statements will con-
form closely 10 these influences remains
to be seen. Increased economies may be
factor, but they are to be felt more
in the second half of the year. With
companies making tinplate there is the
point that shipments of this steel prod
uct have been heavier, as usual, in the
second quarter
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
BOND MART WAITS
ON AGREEMENT IN DEBT PLAN

securities and these three issues were
quickly subscribed.
During the week, Barring Brothers of
London published a favorable analysis
of the Argentine financial situation
and Uruguay reported favorable trade
balance for the first six months OF the
year. The Argentine definitely an
nounced that her debt service would be
continued. even if payment had to be
made IN gold. Colombia made a sim
liar assertion and New York bankers
announced the completion of arrange
ments for credits sufficient to take care
of interest payments for various South
American republics. These factors
aided the foreign dollar list near the
week end
Commodity price averages retained
flrm tone and to this was attributed
the strength in evidence in bonds and
stocks near the end of the week. Wheat
turned upward, but this was not an I'M
mixed blessing as the pricS improvement
was predicted on a situation in Canada
which Premier Bennett characterized as
threatening lone of the worst national
dlSasters IN Canadian history" The
1881 Canadian crop is estimated at
l85, 100000 bushels against a normal
crop of 400 900 ,000 This. at a time
when there is large world surplus of
wheat, means that Canadian farmers
will not receive a compensating high
price for what wheat they do produce.
To the strength of commodities and
hopes of a freight rate increase was
ascribed the improvement in carrier
stocks and secondary bond issues. These
were stronger at the end of the week
than at any time of the current re-
covery.
The immediate future of the bond
market is hidden in the obscurity of
the political horison. But on the long
view it is generally accepted that the
bottom of the present depression has
been completely traversed and that the
indicators OF trade are pointing up
ward.
(Copyrieht, 1917
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
Business Notes

BY the Associated Press
NEW YORK, July 6.-Orders for
Fall goods gained considerable headwav
In the New York wholesale markets
during the past week and while a fair
volume OF purchases for Midsummer
merchandise to fill in stocks developed.
the total dropped off from the previous
week. Bathing apparel. low priced
sports wear, fabric handbags and pana
mas were prominent in the orders for
promotional goods.
While jobbers report a fairly active
business in which buyers are taking
fruits for immediate outlets, interest is
t. ming definitely to new crops. Spot
stocks in the hands of jobbers are gen.
orally light, and few items are practi-
cally cleaned up. An earlier and larger
prune crop is reported in store than
earlier estimates indicated. More IA
vorable weather than was expected in
June has helped the crop to a point
where 1t may now yield over 200, 900
tons, with first shipments probably as
early as August.
Reports OF damage 10 new crop peas
have marked a definite turn in trade
sentiment regarding futures. The crops
in Wisconsin, New York and Minnesota
have been widely affected, first by ex-
ceSsive rains in the East, which caused
widespread root rot, and then many
days OF blistering heat in the Midwest
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
Brokers' Comment

NEW YORK, July 6.-Stock Exchange
commission houses were inclined to adj
wise a policy of caution pending testing
of recent levels in their advices to Gus
toners today. Comments follow:
Hornblower g. Weeks-We continue to
market was probably witnessed on June
preaching a top in so far as this phase
of the current advance is concerned and
prefer to stand aside temporarily.
Jackson Bros, Boesel & Co.-The
conclusion seems logical that moderate
imitation must follow in the wake OF a
moratorium on international debts. The
commodity markets should be watched
in particular for signs OF imitation.
World commodity prices are extremely
low, and If new credits are established
for debtor nations, it seems logical TO
assume that creditor nations will be
benefited by an influx Of orders for raw
materials and finished goods.
Pask g. Walbridge- Although we feel
the broad trend will be upward Tor the
next year, there should be ample OPP
portunity to purchase sound stocks on
modest setbacks in the next few weeks.
Redmond g. Cove anticipate that
Franco American agreement Will
bring about a further recovery in prices
early this week. However, We would
not be inclined to follow up any sharp
rally, from this level as we still belleVe
that more favorable buying opportuni-
ties will present themselves later In the
month.
Shields & Co.-The record OF the
administration and the political lie OF
its members depend on the current
effort to hasten business improvement.
Realizing that business psychology Is
formed by the stock market more than
by any other factor, there undoubtedly
has been ammunition prepared to los
ter the existing improvement. Silver
sterilization. South American credit
arrangement and further measures to
ease money that will point to renewed
imitation are the probabilities most
mentioned at the moment.
Winthrop. Mitchell & Co.-By virtue
of investment trust policy in this coun-
try, the general public has opportunity
at least twice a year to see what the
more reputable management trusts
have been doing.
w. ]. Wollman g. Co.-Summed up,
an analysis of sentiment at the mo-
ment seems to show full realization
of present conditions and the necessity
for still further readjustment before
lasting progress can be made, also a
feeling that the removal of the present
crisis in Europe will result in better
demand for goods, not only from those
countries, but from our own con-
sumers as the result of greater hope
for domestic improvement.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
CZECH DRYS KEEP
BEER FROM YOUTH
Prague Passes Law Against
Giving Brew to Children
on Outings.
snecial DISPATCH to The star.

Special Dispatch to The Star.
PRAGUE, June 3O.-The anti-alcoholic
movement is increasing in the land of
the famous Pilsen beer. During the
last few days all the antialcoholic
organizations of CzechoSlovakia have
combined into an association which is
to concentrate the attack on alcohonc
beverages.
The program of the new federation
includes systematic attention TO drunk
ards. the propagation of anti-alcoholic
principles as a part of the education OF
young children. the protection of young
persons against alcohol, scientific re-
search into alcoholism. etc. In addition.
the problem of replacing alcoholic
drinks by nutritious beverages is to be
attacked.
Pass Children Ban.
A decision along the lines of this pro-
gram was made last week by the civic
authorities of the City of Prague. The
Municipal Education Committee has pro-
hibited the consumption Of beer on
Summer excursions made by school
children. Some industrial enterprises
are in the habit of offering beer to
school children visiting their buildings.
Now even this form of hospitality Is
prohibited.
The CzechoSlovak women's organiza-
ton has a great influence on the anti
alcoholic campaign in this country. In
this connection 1t may be recalled that
some time ago a woman's organization
sent a petition to the Czech Parliament
asking that wages might be paid on
wednesday instead of on Saturday, in
order to prevent the abnormal con-
sumption of alcohol at the week end.
President a TeetOtaler.
Czech teetotalerS have supporter in
President Masaryk, who habitually takes
only soft drinks. It was only after a
serious illness some years ago that, act
ing on his doctors advice, he consented
to fortify himself by a few glasses of
champagne At official receptions in
Prague Castle. however, several kinds of
wine are always offered to guests. At
Lany Castle, DR.. Masaryk's Summer re-
sort, where the President receives his
friends unoff1cially, no alcoholic drinks
are served DR.. Benes, foreign minister
and Masaryks intimate collaboration is
also a teetotaler.
Copyright, 193D.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
Special Dispatch to The Star.


NEW YORK, July 6.-The invest
ment market stood still last week,
pending the outcome of the negotiations
in Paris between the French govern
ment and Secretary Mellon on Presi-
dent Hoovers debt holiday plan.
Because of French reservations, IN
terpreted in London as multiplying the
entire effect of the proposals, and in
Washington as gesture without mean
ing since rejection of the debt sus-
pension scheme will mean a declaration
of a moratorium under the Young plan
by Germany. skeptical sentiment had a
chance to develop both here and abroad
1t was not marked by any important
attempt to drive down prices, because
the very uncertainty of the situation
acted as a check to the bears as we'll
as the bulls, but there was consider
able volume of profit taking by those
who had bought lower down.
New Issues.
This liquidation served to cancel a
large part of the gains in the South
American dollar descriptions and much
of the improvement in the German
group, and, in the domestic list, it pro-
duced an irregular trend. Measured
by the averages, the list sagged slightly,
but this tendency was corrected by the
quick shift of funds back into high
grade and short-term securities. These
had been cashed the previous week to
provide money for speculative oppor-
tunities opened up by the rise in stocks
and junior bonds.
Near the end of the week the street
expressed surprise that three public
utility concerns should offer sizeable
issues of short-term notes, apparently
at a time when these securities were
beginning to lose ground in favor of
higher yield long-term bonds. But the
uncertainty of the international politi-
cal situation had caused a check in
the flow of money from Short-term
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
EMPIRE STATE BUILDING
TOWER PAYS DIVIDENDS
By End of Year It Is Estimated
100000 Will Have Been
Collected From Visitors.

NEW YORK (N.ANA0.-Al Smiths
Empire State Building, at Thirty
fourth street and Fifth avenue, is do
ing nicely as an Office building, but it
probably would have been a paying
proposition anyway If he had only in
stalled the elevators and forgotten all
about the Offices.
BY the end of the year, it is esti-
mated, $1,000,00O will have been taken
in from the visitors who are daily 60
ing to the top to look at the city and
pay 81 for the trip. There is a soda
fountain at the eighty-sixth floor, and
people from out of town get great
kick out of that.
There are 5000 on week days, and
Sunday brings 5000.
Once at the observation tower all
kinds of thrills are sometimes available,
The Los Angeles and the Navy blimps
frequently may be seen close at hand
on clear day.
Copyright, 1881. by the North American
Newspaper Alliance, Inc.)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
CHICAGO DAIRY MARKET.

CHICAGO, July R.-Butter
22176. easy; creamery-speclals SS3
score), 24a2412; extras (92 score, zS12;
extra irsts (90-9l score), z1azS' nrs JUS
1889 score,, 2la2lha; SECONDS So sro soo o,s
score) 1920 standards sad 80 Tg score csa
steadv: extra firsts, II; fresh graded
1Tsts 1871: current receipts, 141a;
storage packed firstS. TIA; storage
Backed extras, Is.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
POTATO MARKET.

CHICAGO, July CP) Omitted States
Department of Agriculture Potatoes,
1872 carloads on track, 252 carloads;
total United States shipments, Friday,
806 carloads; Saturday 1886 carloads:
Sunday, carloads; firm on good
stock, weak on decayed; trading fair
sacked, per 100 cwt., Arkansas, Ok
lahoma Bliss Triumphs. 1.70a1.80; iced
cars, l.90a2.00; decayed, $40 and up a
carload; barrels, Eastern Shore, Vir-
ginia cobblers, 280a2 90; Norfolk Sec
ton, 2.60a2.65: few. 2.70: Mort Caro-
lima, around $50; decayed, 2.10a2.40.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
MONEY MARKET.

NEW YORK, July LF1.-The credit
markets were quiet and unchanged to-
day. Commercial paper was relatively
active. dealers reporting a slightly larg-
er supply at 1s4 per cent for prime
names and 2 per cent for others.
Money was easy. Funds were offered
outside the Stock Exchange at l per
cent. while the official rate held at l u.
Time funds were dull.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
Washington Stock Exchange

SALES.
Potomac Electric Power Cons. SIS 80
$4,000 at los.
Washington Rwy. g. Elec. pfd-20 at
100.
Federal American Bank & Trust Co.
10 at so, 10 at so, 10 at so. at so.
Real Estate Mtge. pfd.-25 at 6l2.
AFTER CALL.
Potomac Electric Power 5l2%o pfd.-4
at llli4. ! at llll4.
Peoples Drug Stores pfd.-l0 at 10l, 10
at 10l
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
Fire Auxiliary to Meet.

ARLINGTON, Va, July 6 Especially -
The Woman's Auxiliary of the Airing
ton Volunteer Fire Department will
hold its meeting with Mrs. Albert C.
Scheffel, Jefferson street, tomorrow.
Plans for the participating with the
firemen with their annual carnival July
Is to 10 will be discussed. Full attend
ance Is urged.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
$443 235 Plane Contract.
PUBLIC UTILITY.

NEW YORK, July 6 P)-Curtiss
Airplane e. Motor Co.. has obtained
from the Navy Department contract
for 80 observation planes to cost $44S,-
235.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06

Mrs. Maria Alexander OF Ilfcrd,
England. who recently celebrated her
Tooth birthday, says that the man who
invented automobiles should be shot,
that short skirts are all wrong, but the
radio is a good thing.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06

Although English postmen have been
denied the privilege of wearing open
necked shirts in hot weather, they just
have been allowed to crease their
trousers at the front and back instead
Of at the sides.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
SILVER QUOTATIONS.

NEW YORK. July (PD.-Bar silver
quiet, 292s "a decline of %.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06

1880 AM........ 100000 1900 Noon. 500 coo
1889 PM........ 100000 210 PM....... 100000
Dividend rates annual cash
based latest
unit trading
in stock Payable in iPlus
Plus 81 in stock Plus 60 in stock
Plus soc Pal
this REGULAR
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-06
NEW YORK BANK STOCKS
Banks.

NEW YORK. July (P).-Over-the
counter market.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-01-03
DIR. KISTLER HAS
SPECIAL PROGRAMS

AT Fairview Presbyterian church,
DR.. Edward Haines Kistler, minister,
10:45 a. m, New Years message,
"On Your Toes!"
At this service, Miss Ruth T.
Beals, the alto of the quartet who
is leaving for residence in San
Diego Cal, sings her ofTertory fare
well, "They That Wait Upon the
Lord" by Harker
t.7:45 p. m. the week of prayer
will be opened by a prayer hour in
the auditorium conducted by the
minister, on "The Compulsion of
Prayer"
Each night of the week, except
Saturday, at 7:45, these prayer hours
will be continued, with these night
ly objects for prayer:
Monday-"For an Awakening of
the Church"
Tuesday-"A Name to Live, or
Born from Above?"
Notwithstanding, Univer-
sal Sin"
Thursday-We, Selfish Christians?
or, Christ for the World?"
Friday-"Our Homes and Their
Children
The Butler Fairview Civic Asso-
citation holds its annual election of
officers, Monday at 8, in the Fair
view Presbyterian social room.
Other business will be transacted as
may develop.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-01-03
PANAMA REBELS
RECALL ALFARO
TO PRESIDENCY
Minister to U. S. Accepts
Offer to Assume Post
of DepoSed Chief.
By Times Special

EJ IfueS bpecidt
PANAMA CITY, Jan. s.-A pro-
visionaI government controlled Pam
anna today as it awaited the return
of DR.. Ricardo j. Alfaro, Panaman-
ian minister in Washington. who
has consented to accept the presi-
dency of the nation.
The supreme court accepted the
resignation of President Florencio
Harmodio Arosemena and his cab
met, and named DR.. Harbodio Arias.
44-year-old attorney and president
of the Panama Bar Association, as
secretary of the government and
justice in charge of the govern
ment."
The recall of DR.. Alfaro was based
on the contention that he is legally
still first president Of Panama
and thus succeed to the Office vacat-
ed by AroSemena. He held the Office
prior to Arosemena's selection in
1928, which leaders of the revolution
declare was illegal.
Panama City was quiet today as
most of the city had been during
the ten-hour rebellion.
The people displayed spirit OF
unanimous support for the new
regime. The death toll in the street
fighting remained at eight, with
several wounded in q dangerous
condition, including Hartwell Ayres,
an American newspaper corresponds
ont