davidaulloa/AmericanStories huggingface dataset:
The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1931-09-11
King of Siam VIII Soon
Leave for Home Jungle

Harrison Hot Springs, B. c.,
Sept. 6.-The king and queen of
Siam motored today to Vancouver,
B. c., last leg of their journey to
tn ePacific coast from New York.
They will sail for Nanaimo and
Qualicum beach, on Vancouver is
land late today to remain there I'M
til Thursday. Next Saturday they
will sail for home, ending the first
visit ever made by oriental rulers
to America.
Lake Okeechobee in Florida, i
the second largest body of fresl
water in the United States.
The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1931-09-11

MAYOR CERMAK of Chicago
got very indignant a few
AVA days ago when it was called
to his attention that some
waggish member of the memplOy-
ed, fed at the old county Jail,
hung the sign ''HOOver HOtel' on
the old Jail door. The mayor
said this was nothing less than
BOlshevism, was an Indictment to
not and anarchy and was an in
suit TO the president. BOhunk
Cermak is a Democrat who was
elected with the aid of Republican
votes Scratch a Democrat and
yOu'llhear a Republican purr or
vice versa.
The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1931-09-11

4 NtS5d li !; HEADLINE says
Il mat s. the farmers are now
tSa app the harvest of folly
went syd SOwed when the rascais
tcOua. produced more wheat
"Ontlnued on Last PaeeJ
The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1931-09-11

The supreme issue, involving
all others, is the encroachment
of the powerful few upon the
rights Of the many.-Sen. Robt.
M. LaEol1ette.
The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1931-09-11

Tue INDUSTRIAL pages of the
papers make sad reading
lhese days. l am gIOOming
II. over the September 8 issue of
E luz ChlcagO Tribune. One head
e tells US that the spectre of
NV wage cut hangs over the steel
0o4 uStry. 1t is due some time in
OOo SOOer' So far steel has been
VIII I;ssEatmg on the short time basis
RntA wage standards staying pat.
n" thu sne steel magnates, or rather
ste NC ,imIanciers, who control the
nm, nm, industry and all other inn
Son 'ant industries want a real
ar anu wage cut, They
tbe,ss gong to get it. Unfortunately
n ~. Is no organization of labor
cut Ae , steel industry to fight the
hint Maybe they will take the
The Washington times., 1931-08-17
RECORDNETSET
BY ICE FIRM

Reduction in operating costs by
American Ice Co. in July was
able to offset the reduction in
prices made throughout the terri
tory of the company, with the re-
suit that results for the month
were the best. in the history of
the company.
The tonnage of ice sold during
the month increased over a year
ago, but reductions in prices off
set the gain in tonnage. How
ever, although the company has
made no reductions in wages,
labor is more efficient, enabling
the company to cut operating
costs.
AS a result of this, earnings for
July amounted to $1,163, 900 after
interest, but before depreciation
and Federal taxes. an increase of
$4,000 over the $1,135, 900 earned
in July, 1880.
This was the best showing
made by American Ice Co. for
any month in it's history and
compared with $1,155,00 earn
ingS in August, 1923.
The Washington times., 1931-08-17

More than $4,000. .OO0, 900 has
been paid out in oil royalties
since the producing Of oil on
royalty basis began, it is pointed
out by T. S. Hose, oil engineer,
formerly connected with the
Standard Oil Company, of New
York, who states that last year
alone in excess of $100, ,OOO, 900
was paid in royalties.
Mr.. Hose believes that the oil
industry Is well on the road to
recovery now baSing his opinion
on the fact that it is now costing
the leading companies 40 cents
more q barrel to get oil out Of
the ground than they are re-
ceiving for the same. He said:
"It would appear that this
country could not retain its
prosperity when its most essen
tial industry Is in this cOndi-
tiOn. IL would further appear
that. with crude oil being re-
duced at Q rate iAf excess Of
The Washington times., 1931-08-17
ancial Nevs Stocks Bonds Cor1n1o des and Comment
Soviet Buying Bulk of u. S,
Farming Tool Exports

Almost IS per cent OF American
exports Of farm implements in
1891 have gone to Soviet Russia,
1t was disclosed today in an aNaly-
sis Of foreign trade statistics pre-
pared by Moody's Investors Serv-
ice. During the first six months
of this year, the survey finds that
Russia took from the United
States agricultural machinery val.
ued at $37,2l6, 900. or 74.3 per
cent of our entire foreign ship
ments, while Canada and Argen-
tina, our best foreign customers
in .pre-depreSsion years, together
purchased less than 10 per cent OF
the total. Moody's comments:
These figures are nothing
less than amazing and startling
evidence that Russia has, tenn
p0rarily at least, assumed com.
pIete dominance as q foreign
outlet for our fifth most inn
pOrtant export commodity"
Exports of farm implements ia
Russia in the first half of 1890
amounted to $50, ,251 900 and con.
stituted about Al per cent of our
shipments to that country. In
the initial six months of the
current year, the analysis states
agricultural machinery purchases
The Washington times., 1931-08-17
Iron RAIL RATE
TILT FOUGHT

Any increase in the rail rates
on iron ore would be rank dis
elimination in favor of the U. S.
Steel Corporation" F. A. Ogden,
general freight agent of the
Jones & Laughlin Steel Corpora
ton. of Pittsburgh, told the In
terstate Commerce Commission
today.
He said the independent iron
and steel corporations are op-
posed to the proposal Of the rail-
roads to increase freight rates Is
per cent.
The proposed increase on, iron
ore, Ogden said, would work to
the advantage Of Lake Front
Furnaces at Chicago, Cleveland
and other lower lake ports, in
Guiding those Of the United States
Steel Corporation, at Gary, Cleve.
land and Lorain, and the Bethle-
hem plants at Buffalo. These
companies, he testified, are not
protesting the increase.
With no change in the boat
rate but with the upper rail haul
and lower rate haul both in
creased, the interior furnaces
such as the Jones and Laughlin
will pay an increase on two rail
rates and the lake front furnaces
only on one.
The Washington times., 1931-08-17
NORRIS BANKS
LOANS GROW

If mass psychology with its
relutance to spend or to utilize
the channels Of consumer credit
has contributed to the business
recession, then there Is a decided
shift for the better apparent in
industrial banking statistics for
the second quarter of 1881, it was
announced today by the Morris
Plan Corp. Of America, Of which
the local Morris Plan Bank is
an affiliate.
Loans made by 1Ol leading
Morris Plan banks for the three
months ended June 80, increased
$780, 1922 to a total Of $47,145,-
683 for the quarter, bringing
the first six months aggregate
to $50, ,661 ,O44. This increase was
regarded by company officials as
indicating q healthier state Of
confidence on the part of the
Individual who custOmarily uses
industrial banking facilities not
only for the liQuidating old OBJ
legations but for the purchase Of
new products, and commodities.
This is also true Of the smaller
merchants and business men who
have found 1t necessary to buy
requirements and new stocks
during recent weeks after many
months of cleaning out old sur.
pluses, it was stated.
The Washington times., 1931-08-17
PUBLIC SERVICE
NET JUMPS

Virginia Public Service Com
pany, subsidiary of Seaboard Pub.
lie Service Company, reports gross
operating revenues of $7,513,687
for the IL months ended June 80,
1881, compared with $7,219,519 for
the same period year ago.
Net earnings, before deprecia-
ton, amounted to So, 1922 ,309, com.
pared to $3,466, ,764; and net in
come was $1,962,103, compared
to $1,863,394.
For the quarter ended June 80,
operating gross revenues we're ST.
873,479 in 1881, compared with
$1,853,986. Net earnings, before
depreciation, were $685., $50, COM
pared with $685., ,42S. Net income
was $444,926, as against $449, 1893.
The Washington times., 1931-08-17

by Russia were 81 per cent of
her aggregate imports from the
United States, and enabled her
to retain her position as our
sixth best foreign customer for
all merchandise. Moody adds:
''The near exclusion Of
Canada and Argentina as mar
ketS for farm implements and
the rapid rise in importance OF
Russia gain added meaning
when 1t is realized that more
than One-fifth of our prOduc-
ton Of this class Of machinery
Is normally exported. In 1929
the first two countries &C
counted for more than half our
exports, but since that time
they steadily dwindled in sig
nificance.
This situation may, Of
course, be merely temporary
and the industrial expansion
Of Russia may later result In
smaller purchases Of American
tractors and allied machinery.
Exports of agricultural inn
plements in 1880 represented
81 per cent Of all American
shipments abroad, and were ex-
ceeded in value only by cot
ton, automobiles, gasoline and
leaf tobacco"
The Washington times., 1931-08-17
COTTON CABLES
ARE LOWER

NEW YORK, Aug. II GNSO
With Liverpool cables 10 English
points lower than due, cotton
futures sold off from so to 95
cents bale during the forenoon
trading today.
Trading was only moderately
active. A weekend accumulation
Of pricefixing orders from spin
nerS here and abroad furnished
the main support of the market.
Liverpool was on both sides of
the market, but mostly the selling
side. Wall Street and the con-
tinent bought. Spot firms and
commission houses sold the dis
tant months. Japanese interests
bought. At midday, October sold
at $500, off Is; December at
$7.2O. off IT; January at $3.50,
off Is; March at $7.49, off 10,
and May at $7.70, off II.
Governor Long of Louisiana
telegraphed to Governors, Sen.
ators and Representatives of the
cotton States asking attendance
at a meeting at New Orleans on
Friday to plan legislation which
would prohibit the raising of cot.
ton in 1882.
The Washington times., 1931-08-17
NEW TREASURY
BILLS READY

Carrying forward the Treas
ury's program of short-term fl
nancing to meet current needs,
Acting Secretary Ballantine is Of
fering 100000, 900 worth of 9l-
day Treasury bills.
Like the preceding offerings,
the issue will be sold on q dis.
count basis to the highest bid.
6ers.
Tenders will be received up to
2 o'clock Thursday at the Federal
Reserve banks and their branches.
The bills will be dated August
"a and will mature November
81, when the face amount will
be payable without interest. AS
in previous instances, they will be
exempt from all taxation except
estate and inheritance leVieS.
Meanwhile, with six weeks of
the new fiscal year having passed,
Government receipts were COM
pairing more favorably with the
corresponding period Of last year
than had been expected.
With receipts to date, revenues
are only 5000. 900 below the 1880
level. Expenditures, however,
have been $500, 900 900, which is
scme $4,000, 900 greater than for
the corresponding period Of last
year.
One of the bright spots on the
credit side Of the ledger is the
gain in customs receipts, which
fell year ago to the lowest ebb
in recent years. These receipts
for the first six weeks Of the
year total $50, 100000, a gain of
more than $1O,0OO,00O over last
years level.
The Washington times., 1931-08-17

tionS, caused a decrease Of en-
ployment of 2 per cent in July,
with q decrease Of 4.8 per cent
In payroll totals in Is major in
dustrial groups. the Bureau OF
Labor Statistics announced to-
day.
Five Show Job Gains
Increased employment in July
was shown in five of the is in
dustrial groups, as follows: Crude
petroleum production, O.5 per
cent; electric railroad operation,
o. per cent; hotels, l.9 per cent;
canning and preserving, 44.7 per
cent; and laundrieS, 0.9 per cent.
Decreased employment was
shown in the remaining 10
groups, as follows: Manufactur-
ing, 2.5 per cent; anthracite min
ing, 14.5 per cent; metalliferouS
mining, ga per cent: quarrying
and non-metallic mining, 1.8 per
cent; telephone and telegraph, 0.4
per cent; power, light, and water,
O.5 per cent; wholesale trade, 0.3
per cent; retail trade, SD per
cent: and dyeing and cleaning,
O.4 per cent.
Leather Group Pay Up
Increased employment an d
earnings were reported in only
one of the IL groups Of manu-
featuring industries on which the
bureaus indexes of employment
and pay roll are based. The
leather group reported an in
crease of 81 per cent in employ
ment and an increase Of 8.8 per
cent in payroll totals.
The remaining IL groups re-
ported decreased employment
ranging from 0.S per cent in the
tobacco products group to ST. per
cent in the stone-clay-glasS group.
The Washington times., 1931-08-17
Progress Reported
In Canadian Harvest

Reports of satisfactory progress
of practically all crops are coming
from nearly every district in Que
bee. Ontario and the maritime
provinces of Canada, accord to
the Bank of Montreal crop report.
In British Columbia most crops
ere also giving promise of good
yields.
In the prairie provinces harvest
ing has begun and will shortly be
general, as ripening has pro-
ceeded satisfactory except in parts
of Alberta where it has been re-
tarded by cold, wet weather.
The Washington times., 1931-08-17
Phelps Dodge Corp.
To Double CaDitGL

Special meetings of sharehold'
ers Of Phelps Dodge Corporation
and Calumet and Arizona Mining
Company, have been called for
September 81 in connection with
acquisition of assets of Calumet
and Arizona by exchange of suf'
ficient shares Of Phelps Dodge
stock to permit distribution of
3H shares Of Phelps Dodge stock
for each share of Calumet and
Arizona stock outstanding. total
of S42,857 II,
This will give Calumet and Ari-
zona 48 per cent ownership in
the merged companies, as there
are 2,822.8 shares Of Phelps
Dodge outstanding. At the Phelps
Dodge meeting stockholders will
vote on an increase Of the capital
stock to 100000 shares par
value $25 from 5000, 900 shares
of same par value now outstand-
inU
The Washington times., 1931-08-17
CURB MARKET
REACT|ONARY

NEW YORK, Aug. II 0.N.SO.
The curb market was generally
reactionary today with the main
body of stocks backing and fill
ing at slightly lower levels. Trad.
ing was dull with the unsettle-
ment in stocks caused by the news
of important bank failures in
Toledo.
Cities Service continued dull to
register a loss Of K4 at 9A. Trad
ing in this issue continued mac
tive. traders appearing to be
awaiting the outcome of the oil
production situation in Texas and
Oklahoma.
The utility group was generally
lower with Electric Bond and
Share leading the downward move
for a loss Of 13s points at 38.
American Superpower was off 70
at II, United Light and Power
was off " at 203s, United Gas
was off " at 6A, and Niagara
Hudson was off 1s at 1917. Con-
solidated Gas of Baltimore was
the bright spot in this group,
showing q gain Of ~ points to
9O3s.
The oils continued quiet and re-
dictionary with Humble off 13s at
835s. Standard of Indiana lost
a half oint to sell at 26, and
Vacuum sold off 1s at 403s.
The speciality group was lower
with Ford Motor, Ltd, selling at
II. off "a. General Theaters pre-
ferred lost % of a point to sell
at AZ. Cord Corporation, in
fairly active trading, gained 70
The Washington times., 1931-08-17
More Than So, 600! 600, 600
Paid In Oil Royalties

10000 barrels per day the in
dustry Is well on its way to re-
cOvery and that too much pes
simlsm should not be shown
toward any industry that Is
selling more than it is prOduc-
ing"
The consumption Of oil and its
by-products is growing at such
rapid rate, not only through the
constantly increasing use of auto
mobiles. but through the gaining
popularity Of oil combustion for
heating and fueling purposes,
that it will not be long, in the
opinion Of Mr.. Hose, when the
industry will be showing material
profit.
One reason. he adds. for the
present condition has been the
exceptional bounty of nature, it
is being fairly conclusively proven
that few, if any. of the important
oil pools have ever gone dry.
The Washington times., 1931-08-17
Neu York to Offer
S3O,OOO,OOO in Bonds

The State of New York is ex-
pected to offer about $4,000. 900
OF long-term bonds next month,
according to tentative plans now
being worked out by state Con-
troller Morris S. Tremaine.
The proceeds of the issues will
be used chiefly for institutional
buildings, grade crossing elimina-
ton and parks. About half of
the issue will consist of one to
25-year bonds and the remainder
will be made up Of one to So
year bonds.
The Washington times., 1931-08-17
INTERNATIONAL NICKEL

International Nickel Co. of
Canada, Ltd. and subsidiaries re-
port for quarter ended June 80,
1881, net profit of $1,700,249
after depreciation. depletion. inter
est and federal taxes, equivalent
after dividend requirements on
Z per cent preferred stock, to
8 cents a share on 14,584,025 no
par shares of common stock.
This compares with $1.659,637,
or 8 cents a share on 14,584.025
shares in preceding quarter and
$3.267, ,73O, or 20 cents a share. on
13,758,208 shares in June quarter
Of previous year.
The Washington times., 1931-08-17
BOOST IN MONEY
RATES SEEN
BY HANEY
Position of Federal Reserve
System Strong, He Holds,
But Finds Tightening Near
By LEWIS HANEY
director NeW York University
BuCenn of Bnsiness Research

Bureau of Business Research
Last week there was a large
increase in the amount Of
credit extended by the Reserve
Banks. At the same time, there
appears to have been a CORE
spending decrease in member
bank credit.
In other words, it seems that
as our commercial banks tighten
up on credit by liquidating loans,
the Federal Reserve System is
trying to keep the total supply
of bank credit up. This it does
chiefly by buying government Sc
curitieS.
Ratio Still High
One result is seen in the drop
in the Federal Reserve ratio to
81.4 per cent last week, actually
lower than a year ago.
Such a ratio is still very high.
but the decline indicates that
the condition of Reserve Bank
credit may be getting little less
easy than it has been.
Federal Reserve note issues are
about half a billion dollars larger
than year ago, and deposit
credits, particularly for foreign
banks, are large.'.
But perhaps the outstanding
fact about the Reserve Banks Il
the increase in holdings OF gov.
ernment securities. These jumped
sharply last week, and are 122
million dollars over a year ago.
Evidently the Reserve Banks have
had to help the government
financings
This may be necessary, but. it
represents a tendency toward in.
flation.
Position Strong
I conclude that the reserve
system is still in a strong posi-
tion, but is getting less liquid.
The member banks are not so
strong, but are getting more
liquid. Their loans and invest
mentS are still too large in com.
parison with deposits, and further
liquidation is to be expected.
Money has probably seen its
easiest days and money rates ere
likely to be a little stronger.
The Washington times., 1931-08-17
Highway Building
Makes Good Gains

Concrete highway, street and
alley construction for the period
January to July 18, last, totaled
100, ,l35, ,089 square yards as COM
pared with 81, ,464, 1884 square yards
in the like period year ago, &C
cording to the Portland Cement
Association.
Although street and alley con-
struction was lower by approx
nately 100000 square yards this
wear, the decrease was more than
offset by the gain of about l5,.
900 900 square yards in highway
building.
The Washington times., 1931-08-17
Marine Insurance
Falls Off in 1890

Marine insurance companies
did less business in 1890 than in
1929, according to a report Of
the United States Shipping Board
issued yesterday.
Total premiums received by
American and foreign companies
doing business in the United
States for hull and cargo insllr-
ance amounted to $50, TAO, 900 last
year. This was $1O.OO0,0OO less
than reported the year before.
Premiums remained about the
same and the decrease was due
to the drop in traffic.
The Washington times., 1931-08-17
AMERICAN MACHINE co.

American Machine and Foun,
dry Company reports for six
months ended June 80, 1881, net
income, including the company's
proportionate share of earnings
of International Cigar Machinery
Company, was $1,074,840 after in
terest, depreciation, Federal taxes,
ETC., equal to SLOT a share on l..
000,0 900 no-par shares of common
stock. This compares with net in.
come in first six months of 1880,
of $1,635,641 equal, after deduc,
ton of $105, 900 dividends paid on
7 per cent preferred stock, now
retired, to $1.53 a share on the
common stock.
The Washington times., 1931-08-17
Utility Group Adds
$2,6OO,OOO Profits

SAN FRANCISCO, Aug. IT..
Report of Pacific Gas and Electric
Company and subsidiaries for six
months ended June 30, 1881.
shows net income of $11,956.386
after interest, depreciation, Fed
eral taxes, etc, equivalent after
preferred dividend requirements,
to $1.34 a share (par $3.50 on
5,975,817 average number of COM
mon shares outstanding during
the period and $1,2S a share on
approximately 6,240,0OO common
shares outstanding at close of
period.
This compares with net income
reported in first half of 1880 of
$9,291 ,632, equal to $1.60 a share
on 4,028,947 average number Of
common shares outstanding dur
ing that period.
The Washington times., 1931-08-17
Big Passenger Gains
Bu United Air Lines

Planes of United Air Lines,
operating subsidiary Of United
Aircraft and Transport Corpora
ticn, carried 6,215 revenue passen-
gers in July compared with 1874
in June, which air mail carried
amounted to 416,79O pounds,
against 4l8,95O pounds in June.
Total mileage flown in July was
1890, ,9OS miles, or over 80 per
cent of scheduled miles, COM
pared with 1,O03,74S miles in
The United Air Lines COM
panies include National Air Trans
port, Boeing Air Transport. Pa
cific Air Transport and Varney
Air Lines,
The Washington times., 1931-08-17
Demands for Meat
Increase for Week

Demand for leading packing
house lines was better last week
as a result of continuation of
attractive price levels and lower
temperatures prevailing through
out the country. Armour & Co.
reports in its review of packing
house trade conditions during
the week ended August IA.
Dressed beef trade reflected the
cooler weather in slightly i'm
proved demand at stronger
prices, while the lamb and veal
markets bettered after a slow
start.
The Washington times., 1931-08-17
Soviet Heavy Buyer
of II. s. Farm Tools

NEW YORK, Aug. 17-Almost
IS per cent of American exports
Of farm implements in 1881 have
gone to Soviet Russia, Moody's
Investors Service today reported.
During the first six months Of
this year, Moody's finds that
Russia took from the United
States agricultural machinery
valued at $37,216,000. or 74.3 per
cent of our entire foreign ship
mentS, while Canada and Argen-
tina, our best foreign customers
in pre-depression' years, together
purchased less than 10 per cent
of the total.
The Washington times., 1931-08-17
GENERAL FOODS SALES

Sales Of General Foods Corpo-
ration's pectin products so far
this year are more than 20 per
cent above the output for the
entire year 1880. The Certo divi-
sion at Fairport, N. Y, mas been
operating on a full time basis
during the summer months to
take care of the increased de-
mand for this product. Pectin
products are used in the prepa-
ration of jams and jellieS.
The Washington times., 1931-08-17
CLOTH MARKET QUIET

Today's coarse yarn gray cloth
business was confined to small
takings of various print cloths at
full prices in effect. Efforts were
noted to cover on very large
amounts of such styles as 30
square, 67x72s and 64x6OS for this
years deliveries. Other deScrip
tions were generally quiet. There
was little inquiry in drills, twillS
and narrow Sheetings were sold in
slight amounts at steady prices.
The Washington times., 1931-08-17
81 Labor Disputes
Before u. s. Board

Department of Labor reports
that on August IS there were 81
strikes before it for settlement
and "a controversies which had
not reached the strike stage, max
ing the total of cases pending 81.
Twelve new disputes were re-
ported during the week, Of which
four have been adjusted. Four
older cases were also settled.
The Washington times., 1931-08-17
JULY BUILDING UP

During July, building permit
figures departed from the recent
trend and turned upward, accord
ing. to Bradstreet's. The July total
for 215 cities amounted to $101,-
553.346, which was a considerably
better showing than the tendency
Of recent months had indicated as
q probability. :?