davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
GRAIN MARKET

CHICAGO, January IA (P.-Despite
sharp downturnS in Liverpool quota
tions, wheat here advanced today to
new high levels for the present move
ment. Scarcity of offerings was a brac-
ing influence, together with reports that
the main domestic Winter wheat belt
had become bare of snow Corn sagged.
owing largely to announcement that the
number of cattle on feed in corn belt
States was 10 per cent smaller than a
year ago.
Starting q cents off to "a up, Chi
cago wheat afterward showed general
gains. Corn opened asa7s cents lower
and subse quently rallied
Helping to lift wheat in the face of
Liverpool price sethacks were official
reports that the Argentine government
would use gold reserves Immediately to
support exchange rates Breaks in the
Liverpool wheat market were ascribed
to weakness of Argentine exchange and
to predictions of consequent increased
pressure of Argentine wheat abroad
Reports from India told of continued
drought.
Nebraska was the only Corn Belt
State where an increase of cattle on
feed was reported. Five corn States
East of the Mississippi showed a de-
crease of Is per cent. The belt, as
whole, reported the number of cattle on
feed was the smallest since 1921 and
probably the smallest since 1916. Oats
sympathized with corn.
Provisions were responsive to down.
turns in hog values.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
CHICAGO LIVE STOCK MARKET

CHICAGO, January "A CF9 Omitted
States Department of Agricultural -
Hogs, $4,000, including 1000 direct;
moderately active; 10a15 lower; heavies
eff least; top, 8.25; bulk, 1920
pounds. 800a8.15; 220-3lO pounds,
packing sows, 6.40a6 IS; light light,
good and choice, 140-160 pounds, 8.10a
8.25; light weight, 10000 pounds, 800
aS.25: medium weight, 200-250 pounds,
T60a815; heavy weight, 250-350 pounds,
720a7. 10; packing sows, medium and
good. 275-500 pounds, 6.25a6.75; slaugh-
ter pigs, good and choice, 100-13o
pounds, 7.50a8.35.
Cattle, $780, calves, 1000; better
grade fed steers and long yearlings,
strong 10 IS higher, mostly 10a15 up;
others steady to strong; general trade
moderately active; she stock ruling
steady to strong; best yearling, 1880;
weighty steers, 1925; medium weights,
1925; slaughter cattle and vealers,
steers, good and choice, 100000 pounds,
975a14.25; COOL 100 pounds, 975a
1425; 1,100-1 300 pounds, 9.75a14.25;
1901 500 pounds, 975a14.00; common
and medium, 600 300 pounds, 62oa
975.
Heifers, good and choice, 550-S50
pounds, 7.75a11.75; common and me-
dunn, 5.00a8.00; COWS. good and choice,
525a7.25; common and medium, ASA
$50; low cutter and cutter, 300a4. 25;
bulls (yearlingS excluded, good and
choice (beef), 5.00a625; cutter to me-
dunn, 400a5.65; vealers (milk-fed) f,
good and choice, SOCIALIST; medium,
7.50a9.O0; Gull and common, 500a7 so:
stocker and feeder cattle, steers, good
and choice, 500-1,O5 pounds, 700a9 90;
common and medium, 5.50a7.00.
Sheep-Receipts 10000 head; steady
to shade lower; decline on fat lambs;
few early. sales to packers, 800a8.25;
top to city butchers, $50: fat ewes,
mostly 3.50a4O0; lambs, go pounds
down, good and choice, 785a8.75; me-
dium, 6.75a7.65; all weights, common,
5.50a6.75; ewes, 90-150 pounds, medium
to choice, 2.50a4.00; all weights, Gull
and common, 1.50a3 90; feeding lambs,
6o-75 pounds, good and choice, 700a
IT'S.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14

1920-21 or in any previous crisis. He
also feels the same regarding the busi-
ness situation. He says 1.-The Federal
reserve banks are liquid whereas in 1920
they were loaned up practically to the
limit"
Commodity Prices.
On the subject of commodity price
declines he states that these have been
less than In the last previous depres-
sion; also that inventory losses have
been smaller and capital impairment in
regular business less. He also feels that
unemployment is no greater than in
1920-21 and that the business organiza-
ton sis ready to function more promptly
and with greater efficiency than after
any other major crisis"
Mr.. Mitchell is inclined to follow the
line of reasoning presented last week
by Paul M Warburg in believing that
one of the main causes fer the depreS-
sion is that of overproduction. He says
on this subject: THE State of congeS-
ton in commodities and unremunera-
tive prices to producers is yariouSly de-
scribed as resulting from overproduc-
ton or underconsumption, but is more
accurately described as cue to dispro-
portionate or unbalanced production"
According to Mr.. Mitchell, The cur
tailment of expenditures OF all kinds, on
the part of consumers, distributors and
producers, was very pronounced. The
first effect of these economies was to
intensity the depression, but the intent
Of each individual has been to strengthen
his position, and If everybody accom-
plisheS this the ultimate effect must
be to strengthen the general situation"
Business Volume.
In conclusion Mr., Mitchell feels, judg
ing by past experience. the volume of
business has fallen as low as it is likely
to go and that requirements may be ex-
pected at least to maintain the present
levels.
Mr.. Mitchell did not discuss foreign
conditions and made only a slight COM
ment on the security markets. These, he
thought, would reflect more construc-
tive frame of mind en- the part of the
public even before industrial recovery
is under way.
copyright. 1919
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
MITCHELL REPORT STRESSES
LIQUID POSITION OF BANKS
Cash Reserves Have Been Increased to
Highest Level Since 1907, but Earn
ings Have Declined.
BY CHARLES F. SPEARE.
Special Dispatch to The Star.

special Dispatch to The Star.
NEW YORK, January 14.-From a
banking standpoint, the most important
statement in the remarks of Chairman
Charles E. Mitchell to shareholders of
the National City Bank of New York
had to do with the liquid position of
the institution during the past year.
Mr.. Mitchell indicated that the ag-
gregate of cash, Street call loans, bills
eligible for immediate rediscount and
bonds eligible for borrowing at the
Federal Reserve Bank had averaged
thrift deposits of the bank. He fur
Their stated that in no single month
during 1890 had this average at the
head office and in domestic branches
fallen below 6234 per cent This has
been in line with the general banking
practice of building up cash reserves
during a period of business. and later
Of banking unsettlement, to the highest
level since 1907.
Earnings Affected.
1t has been obvious that possession
Of such high proportion of low-earn-
ing assets has affected the earnings of
all banks. Their directors have, how
ever, been primarily concerned with
maintaining a high degree Of liquidity
IL is expected this practice will continue
for some time to come.
The report OF Mr.. Mitchell indicates
that the sum of $20,000,O0O was trans
ferred in 1890 from surplus to a reserve
for contingencies. The comment on this
policy was that it was considered
wise precaution, in view of the world
wide economic disturbances" 1t was
further stated that in closing the books
for the year advantage had been taken
of the existence of this reserve TO write
down the value Of assets to point from
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
NEW YORK COTTON

NEW YORK, January IA Especially -
Initial cotton prices today were vir-
tually unchanged, the market interpret
ing the Government report on cotton
consumed about as expected. The Cen
sus Bureau reported cotton consumed
in the United States in December AS
4O6 POT bales against 414,887 in No
cember and 452,685 in December, 1929
Consumption for the five-month period
ending December 81 was 2,012,2 PA bales.
against 2,738,185 in the same 1929
period.
Opening cotton prices were: January,
new, 9.95, off L. March, 1913, un-
changed May, 1887, off /; July, 1857,
off /; October, 1911, up 1; December,
1887 unchanged.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
PRICES ARE MIXED
IN CURB DEALINGS
Stronger Trend in Utilities
Helps Other Sections
of List.
BY JOHN A. CRoNE.

Special Dispatch to The star.
NEW YORK, January 14.-Under the
leadership OF power and light shares,
the Curb Exchange after early heavi-
ness today showed signs of rallying
after midday This movement of pub
lie utilities, however, failed to bring
about a recovery in oil shares, which
were affected from the start by price
reductions announced in Texas.
In the utilities, Electric Bond &
Share, after opening lower, led the
recovery. American Foreign Power,
American Superpower and Middle West
Utilities also improved. Cities Service
was off a small fraction during the
first two hours.
A slight gain in crude oil output for
the week, but a further decrease in
gasoline stocks, caused some selling of
the oils at the opening. This situation
was aggravated by the announcement
of price cuts in Texas
Humble Oil eased point on the
first sale that followed its announce
ment of lowered crude quotations. Gulf
Oil of Pennsylvania declined as 1t
posted a lower purchasing price for
crude. Later Vacuum and Standard Oil
of Indiana reacted. Standard Oil of
Ohio on few dealings showed gain
of a point.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
Automobile Orders Gain.

NEW YORK, January IA (P).-N. <.
McDarby, director of sales of Auburn
Automobile Co., said orders from dis
tributors and dealers for Auburn models
received during the New York Automo-
bile Show totaled $500, against 1880 in
the like period last year. Production has
been increased, he said, and by January
81 the Connorsville plant viii be pro-
ducing around 300 new Auburn models
daily. He added that the Cord plant at
Auburn will be at capacity production
by February /.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
R. J. REYNOLDS co.

WINSTON SALEM, N. c., January
IA (R1.-The annual statement of r. j.
Reynolds Tobacco Co. reports earnings
of $34, ,664, a new high record, as
compared with $32,210,521 for the
previous year.
This is equal to $342 per share for
1880, against 1922 per share in 1929.
The ratio of current assets to current
liabilities, the statement says, are more
than IL to l, with no bank debt, no
outstanding bonds or preferred stock
and with only the nominal sum of 81
assigned to its brands, trade marks and
good will.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
BONDS.
REALTY LEADER SEES
BETTER TINES IN U. S

BY the Associated Press.
ATLANTA, Ga, January 14-Leonard
P. Reame of Detroit, president of the
National Association of Real Estate
Boards, said here: This Nation wide
depression is over and prosperity has
started its march homeward"
Mr.. Reame spent several hours in
Atlanta while en- route to st. Peters,
burg, Fla, for the Midwinter conven-
ton of the national real estate body.
THE depression which has retarded
business for year or so is over, in
my opinion" he said. THAT applies,
not only to the real estate market, but
to business generally.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14

which substantial recoveries may be
expected as more normal conditions re-
assert themselves"
In dealing with general economic con-
ditions, Mr.. Mitchell devotes consider
able space in his remarks to a COM
parison between those obtaining today
and in 1920-22. He finds satisfaction in
the fact that while the revulsions of
the two periods were alike in some re-
spects, we now have a stronger situa-
ton than decade ago. He maintains
that the business structure of the coun-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
CHICAGO DAIRY MARKET.

CHICAGO, January IA CP).-Butter,
3,770 tubs; firmer: creamery extras (92
score), 27: standards go score carlots) ;,
2634; extra firsts (90-91 score), 26a
26K; frsts, 1888 score), 2412a2512;
seconds (86-87 score). 23a24. Eggs,
9,037 cases; easier; extra flrsts, 241sa
25: fresh graded firsts, 221aa23h; or
binary firsts. 1921: Tefrigeratog ex7
tras, Is.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
COTTON CONSUMPTION.
By the Associated Press.

BY the Associated Press.
Cotton consumed during December
was reported by the Census Bureau to-
day to have totaled 406, POT bales of
lint and 1890 of linters, compared with
414,567 and 54,777 in November last
year and 452,685 and 52,152 in Deem
Der year ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
U. s. TREASURY BALANCE.

The United States Treasury balance
announced today as of close of bust
ness January IL was $2l9,512, 1868.
Customs receipts for the month to date
were $l0,I82, 536.73. Total ordinary ex-
penditures, $16,035, 83069.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
NEW YORK CURB MARKET ss:: Il: :: s wi:

Note-Al stocks sold in one hundred-share lots
excepting those designated by the letter (80s) (250s
which shows those stocks were sold in odd lots.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
BONDS ON THE CURB
MARKET.

Sales in DOMESTIC BONDS.
z zSSSi RaI' !. !: & 81 g.. ss
Am cmEih Pw IS 20 soas soss s0ss
] Amer. Seating IS So So Sc So "
5 Appalsch Gas Is as 747s 74Is 7Sis
g z zsssIssq e s3s 6 i S. s5 81
,s A A n1se 11 : .r s ss sSa g G
Asso G&E AS 14s 6 6sA s5ss &C.,
49, 49, 1: Il $. p + e Il; e: &.
$ssini 81 st.. esR s. 2 g iiSs,s iss'. i iss,.
!, Ss 3 81 as as s. !: 4 q: q:
e SSI i!siss Sc Ssf s5,ss s 81 !s 81
iSSomasa3is. EisE a35 S i a., ., 9, 2s
81 sons ua oF S IS g iS Ss 1872 g 49, g
;. S:5s$is t & !. J. i S RI #
Safi5a u 6 s go - 49, g 49, 49,
I EiifiP2Is z IS & Z 81 # &, Il ,sE
i ii5d9Sp I5 FIJI 3 lss': lss:: 49, ss
ire. a55e ( BY s Sec Is T Z? g. ,Ss3s g.,
ESssi5' : I'll: g e: 81: e.
sMsnitobaH P P3 . Sc 81 S4ls a. 81
j MINI NJ ? al, 4 I rs "a s$'. ssas ssa.
g EEFFfsfg' S. g. ~ i9 92 i2 22 i9 g.
Nat EaE s a ~. 1855 1886 Io8i :
i NV ssH Eas Egg S%E :: g.. g.. g..
,$E SsT FaS 81 ;, T. sss ss5ss So ss,3
9 g B BsF 81 81 lS9 49, lS$ I ISS
q q 9 9Rio P F9ls s g. &C.: s ss s S.
Penn P 4 + S. 3 g lo3 les lss
% ESP PoPREiabh SP G 3 41e TsSs g.. S. g.,
i g. s. L J: g ss S 81: S.
ssss1 & e ). as, g S. & g. =.
i Shaw W & p AIS d. 81 81 81
5oash CALI "a $ ss iS44s i ig4s i ioz
sthE pai Pr e'ss .s$ 6s s5 6s
s soathw S 4 6 s s s & & g e., g
8 Stand Gas ( Z S s. ~ sssss az
stand Gas 6 sg e.. ssss ss3.
9 Swift Co IS 20 wi i90li 1905. 1907
Texas dGl ss g. 60 " gs: ??sS:: 49, 49,
sTexs,S, ? & L IS So. 99 g s3
] Union Gulf S. so 1919 1919 1914
yynl Z s, g r. 5'ss 52 49, g., g g.,
Wash W. P b S. SO 1884, 1884, 1872 1884, 1884,
Y W Wes'5 Tex T u S So 81 8S sS
FOREIGN BONDS.
IS Ayr Mtg Bank Is go ss1a SO s8H
66ss5 BE- bamI E1a5 & g ss s ss ss;
G GSR Fl TEL Pr his S. q ls s9l. a. q
gen eP's Cons go Nun "a 8 = ~, gssss sss
R Ransfi Glen mf g ( - q 7 75,: g..
Saxon Pub 1Wk IS 80 9lLs sl!s 9iig
2 TERM Soc 6izs $50 1874 T79s r72s
! Unit Ell Ser rs Sc XIV IS IS IS
Unit Indust 6i2s Al. ISIS 76is 7eis
~w-With warrants.
xw-Without warrants.
Wi-When issued.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14
INVESTMENT TRUSTS

NEW YORK, January II CP).-Over-
ihe-counter market.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14

annual payment Sex dividend. tPartly 4Pus
stock Payable in cash stock Payable Adjust
ment dividend Plus so
in stock. in stoc m
80 in stock. Plus 80
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14

Continued From Tenth Page,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-14

Ww-With warrants
Without warrants.
New
wi-When issued.
The Washington times., 1931-03-20
For examf1e-

w ~~"GH
One is a copy Of Persian
Garden Carpet. with its mosaic
walks. in and through beautiful
flower beds; expressed in the
soft shades Of deep blue, light
blue. gold. mellowed rose.
green, etc.
Another is an exact copy of
an Ancient Persian Fereshan
in the historic Herati. or two
6sl design in the field, and bor-
dered with turtle-back pattern.
Still a third reproduces the
old Persian Floral two Gull
design, with dark blue oback-
The Washington times., 1931-03-20
LetjAH Go
Shipping
BY Patricia |

For names of shops tDhere you
can find articles described be-
lotD, address Patricia Lee, The
Washington Times, or telephone
District $3.50, Extension 165, be-
ttOee1t $50 and S.
BLOUSES FOR
NEW SUITS, CSC
Cottons are all the rage, and
are especially good for blouses.
These are polka-dotted, shocked
in peasant effect, ruffled, frilled.
Some have long sleeves, some
short, but all Of them are smart.
White or paStelS.
PAJANTAS OF
PLAID RAYON, $1.95
Clever patterns make these
pajamaS look like frocks, and
make them suitable for wear
about the house, or for sleeping.
The plaids are in daytime
colorS, brown and beige, pink
and blue in combination, green
and other shades. Large or
small plaidS.
The Washington times., 1931-03-20

ground, shading with henna.
brown, light blue, ivory. The
main member of the border is
the rust shade, paralleled on
either side in light blue.
Here. too, is a faithful copy
of Persian Lahvera. with the
gay = colored flowers filing
graceful vases; and nightin-
gales singing to the rose-an
old Persian symbol.
And so on throughout the
entire collection-designs true
to the Persian tradition, and
produced with the. fidelity Of
oriental skill.
The American issue. [volume] (Westerville, Ohio) 1912-19??, 1931-03-01

autotheft law, and other statutes; why,
therefore, should congress expect the
states to enforce the Eighteenth Amend
ment?
1.-THE least We can say of this argument
is that it is q deliberate attempt to eX-
plot the uniformed. who nave not had
occasion to distinguish between federal
statute and a constitutional amendment.
Federal statutes are made by congress and
enforceable Onlv through federal agencies,
while constitutional amendments, being
made D. the states, are necessarily bind
Inc on the states, and when net self-eXe-
cutory, the states provide for the method
of execution as done in the Eighteenth
Amendment Every state knew when it
ratified this amendment and sent its man
date to congress that concurrent enforce
ment by the state was necessary to make
it effective, and the amendment so pro-
vided. For any state to back away from
its own action and its own self-imposed
responsibility is a violation of obligation
to the union of which it is part. And
any state executive who teaches such VIC
lation OF such obligation stultifies himself
and fails to cover his oath.
when this group says to the people,
There is no way for congress or any other
agency in Washington to compel a state
to support or enforce the constitution or
the Eighteenth Amendment and, there
fore there is no legal or moral obligation
upon the state to do So it is teaching
most dangerous doctrine What they say
is true, that a state cannot be compelled
to act, but I dispute the statement that
there is no obligation on the part of
state to observe or be bound by the con-
stitution of the union. It is also true that
no m "a
preparation bills that it is now passing or
for the congress to compel the president
to perform any of his constitutional or
executive duties, but what would happen
to our country if these officials were to re-
fuse to perform such duties merely be-
cause they cannot be compelled to perform
them?"
The American issue. [volume] (Westerville, Ohio) 1912-19??, 1931-03-01
ALL in A FLUTTER
Dry Democrats Will not Let Ras-
kob Run Away With Party
to Wet Camp

There is as great a furry over the trend
of national politics as if it were the spring
of 1882 instead of the latter part of the
winter of 1881. The presidential campaign
of next year is now live topic among
Washington politicians and news writer's.
Prohibition is the cause of the flare at
this time. and the fact that Chairman
Raskob of the Democratic national COM
nittee, has called meeting of the COM
mittee in Washington this week.
The supposition is that under Raskob's
leadership, the committee will declare for
a wet, or at least a moist platform on
which to make the presidential campaign
next year This supposition, presumably
based on fact stirred the dry Democrats
and they are busy rounding up commit
tee men who will oppose the action of the
wet members.
Southern Democrats are taking the mi
tiative in the protest against the proposed
commitment. They have active support
of Senator Robinson, Of Arkansas, the
Democratic leader and vice presidential
candidate with Al Smith in the 1928 pres
idential race. It is their contention the
national committee is without authority
TO commit the party on issues, and that
such an. act lies solely with the national
convention
Senator Morrison, Democrat, of North
Carolina, is active in rounding up opposi-
ton to Raskobs plan, and declares there
are enough members Of the national COM
mittee opposed to Raskob leading the
party into a wet swamp to defeat the
project.
Some wet newspapers over the country
have been trying to make it appear that
President Hoover is lodging the wet and
dry question, and that he will probably
be a candidate next year on platform
not strongly dry. This, however, is ridi-
culed by close advisors of the president
who assert that he will be a candidate on
strictly dry platform and also as
conservative.
There promises to be plenty of COM
ment, much of it not well founded on this
action Of both parties.
The American issue. [volume] (Westerville, Ohio) 1912-19??, 1931-03-01
WHAT A DROP!
Per Capita Consumption Of Liquor
Dropped With a Thud, says
Uncle Sam

Per capita consumption OF liquor IN The
United States IN 1880 had dropped 10 s.
per cent of the per capita record of 1911,
according TO the report made by the pro-
hibitiOn bureau to the Wickersham COM
mission. From 1914 to 1880 the per capita
consumption had dropped from 1705 cal
Ions to SOP gallons per person. according
TO the bureaus figures. The bureaus re-
port said
The total gallons OF illicit alcohol pro-
duced and Struggled is estimated 10 be
73.83l172 gallons. This is a per capita
consumption based upon the preliminary
census returns as of April 1, 1880, midi
eating the population Of The United States
122,698,190 persons, OF only COZ gallons.
In 1914 the quantity of spirits con-
sumed legally was 143. 447,227 gallons;
wine 52.418,430 gallons, and malt liquors,
2056,407108. The absolute alcoholic con-
tent of these liquors is estimated at 1861
983,661 gallons or 1.7O5 gallons per capita.
This indicates per capita probable
production Of absolute alcohol for beyer-
age purposes Of IS per cent of the 1914
rate of legal consumption"
The American issue. [volume] (Westerville, Ohio) 1912-19??, 1931-03-01
A VOICE FROM KANSAS
And it Brings Encouraging News
Concerning the Young People
of That State

Dr. E. H Lindley chancellor Of the Uni
versity Of Kansas addressing high school
students in Wichita declared the morale
of students in Kansas colleges and univer-
sites to be higher now than ever before
"I have counseled with the officers of
the various fraternities on the University
Of Kansas campus" DR.. Lindley said, land
I find, without exception, they are behind
the movement to keep the state dry, and
against all efforts of either students or
others to manufacture or sell liquor il
licitly.
1T is impossible to have an assembly
of students like that in the university and
not find q few who will break over the
traces, but am thankful to say an eXcep-
tionally small percentage will be found on
the campus of the state university. Every
year less drinking is found among the
student body and in most of the fraterni-
ties drinking is not considered smart"
In survey of the universities of the
United States, Kansas is found to rank
first IN the high morale of students, due,
DR.. Lindley believes, to Kansas long
standing prohibition law. Kansas has had
statewide prohibition since 1880.