davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-03-30

The insolvency record this week
shows a sharp reversal of last
weeks trend toward moderate i'm
proVement, with a materially
higher total of failures. Thus, de-
faults reported to R. G. Dun &
Co. this week number 654, COM
pairing with $40 last week, and
there also is a large increase over
the 533 insolvencies a year ago.
Apart from the Pacific Coast,
where there was one less failure,
each geographical section included
in the tabulation shows more de-
faults this week than last week,
and increases appear in every in
stance in comparison with the re-
turns for this week of 1890.
Of the present weeks insol-
vencies, 399 involved liabilities of
more than $4,000 in each case,
comparing with 342 similar de-
faults last week and 300 a year
ago.
Totaling SO, failures in Canada
this week are identical in number
with those of last week, but are
moderately in excess of the 48 in
solvencies reported to R. G.. Dun
& Co. a year ago,
The Washington times., 1931-03-30
BUYING.
HELPED BY
EASTER
Bradstreet's Notes, Moreover,
That Influence Of Spring
in General Tends to Cheer

A feature of last week, largely
Of a seasonal nature, is that re-
tail buying has brisked up to
the best point of the year, aided
primarily by the near approach
of Easter.
Other Gains Gradual
Other reports to Bradstreet's
from some 40 cities point to the
continuance of gradual, but none
the less perceptible gains in in
dustrial operations. the throwing
off of winter restrictions in q
variety of lines. and growth
in cheerful feeling inseparable
from the season. :.
Briefly summarized it may be
said that January saw industry
about at its lowest but with a dis
tinctly better sentiment develop
inging as to the future.
February saw a pickup in IN
duStry. most marked in iron and
steel and also visible in the auto
mobile trade, whereas March saw
the improvement of the second
month expanded and enlarged to
a point where progress could be
really definitely reported. =
More Factories Busy
Some of the more definite de-
velopments Of the week have to
do with reports Of the gradual
expansion in factory operations,
which became first perceptible in
February when a turn for the
better was recorded, the gain in
this direction finding confirma-
ton in the higher reported pace
Of operation in cotton and silk
mills. some iron and steel lines,
clothing factories and other
branches of industry.
The Washington times., 1931-03-30
MARCUS TRIAL
POSTPONED

NEW YORK, March 30 GN.S)
Trial of four indicted officials of
the defunct Bank of United
States, which was to have started
today, was postponed until to-
morrow due to the death of
George w. Morgan, senior part
ner of the law firm of which
Charles H. Tuttle, defense coun-
sci. is a member.
Hundreds of depositors in the
closed bank showed their way into
q crowded general sessions court
room only to be disappointed. An
extra force of 20 police were
posted to keep the spectators or
derby. A battery of telegraph in
struments have been installed
near the court room for the press.
The defendants are Bernard K.
Marcus, president of the bank;
Saul Singer, vice president; Her
bert Singer, his young son and a
director, and Henry w. Pollock
who was head of the banks legal
department.
The Washington times., 1931-03-30
Good Tin Can Sales
Expected This Year

The Continental Can Company
has been maintaining its sales
during the current year. Lndica-
tions are that the volume in 1880
will be close to that of the pre-
ceding IL months. Favorable
weather during the fall prolonged
the canning season and offset, in
part, the reduction due to drought.
The carry-over of canned
products will be smaller this year,
which should mean still better
business in 1881.
The Washington times., 1931-03-30
Guaranty Surrey
Sees Slams Better

Those who predicted earlier in
the year that the business recess
sion was gradually approaching
bottom and that a measure of re-
covery could be expected some
time during the subsequent few
months have so far had no rea-
son to alter their views, states
the Guaranty Trust Company, Of
New York, in the current issue
Of the Guaranty Survey, pub
lished today. It continues:
"In fact, actual developments
and reports issued during this
month not only offer support
for these earlier opinions, but
also present the most encOurag-
ing signs in sometime"
The Washington times., 1931-03-30
RAISE IN GOLD.FA|LURES JUMP
PRICE SOUGHT LAST WEEK

BOULDER, Colo, March 80
GNS0 A raise in the price of
gold from the present arbitrary
rate of $2067 per square ounce
to $50 per ounce is necessary to
overcome the world shortage OF
the yellow metal and to place
the gold mining industry on a
paying basis, according to a reso-
luton adopted by the Boulder
County Metal Mining Association.
Copies of the resolution have
been presented to members of
Congress and to many metal
mining and engineering societies.
The resolution points out that
economic restraints have tended
to drive out of business all but
the largest and richest m n e S
Production of gold will decrease
steadily in the United States and
in other gold-producing countries
until the price is raised, according
to the resolution.
The Boulder county gold miners
call attention to the fact that
the world shortage of gold-a
subject which is concerning all
civilized countries at PRESENTS
not due to exhaustion of the gold
supply. Instead, production is
being stifled by economic factors,
chief of which is a mixed price
so low that gold cannot be profit
ably produced.
The Washington times., 1931-03-30
PARLEY ON FREE
PORTS CALLED

The establishment of fire e
ports" in the interest of inter
American trade. will be taken up
when the Pan-American Union
holds the fourth commercial con-
ference here in October, it was
announced today.
A free port is an isolated area
at important international ship
ping centers, into and out of
which cargoes may pass duty
free. They thus become trans
fer centers for international
trade, and serve as vital aids
to shippers.
The Pan-American Union has
prepared a report to submit to
the conference as the basis for
discussion.
The Washington times., 1931-03-30
SOUTHERN 1880.
TRAFFIC DROP
IS HEAVY
Freight and Passenger Loss
Over 1929 Partly Offset by
Cut in Operating Expenses

The Southern railway last year
moved 1898 per cent less freight
14.17 per cent fewer. miles for
14.97 per cent less money than
IN 1929, according to it's annual
report. 1t collected nearly S.,
100000 less in fares from approx
mately one and three-quarters
million fewer passengers who
rode nearly 10000 fewer miles.
=. The railway moved 38,608, ,638
tons of freight 7,167,544.614 miles
for $91, ,799, ,046. 1t carried 4.633,-
872 passengers 516.481,0 ,084 miles
for $17,129,081. The average per
mile revenue for both freight and
passengers was trifle higher
than in 1929.
Total Revenue $118,868,6O8
The total revenue from the
operation of the railroad was
$118,868,608, a decrease of $24,-
315.340, or 1898 per cent. This
decline in gross revenue was
partly offset by a reduction of
$14,492,576 in the expense &C.
count, so that the loss in net oper-
ating income was limited to $10,-
322,814, or 42.45 per cent of the
loss in gross. Thus, the net oper-
ating income for the year was
$19,708,163, a decrease of 34.37
per cent compared with the pre-
ceding year.
Income from sources other than
operation, including interest and
dividends on corporate and Gov
ernment securities owned, and in
tereSt on bank balances, was
$7,236,159, an increase of $1,450,-
1858 over the preceding year, due
principally to larger dividends
from stocks of other railway COM
panies included in the Southern
Railway System.
The balance of income after the
payment of fixed charges and the
preferred stock dividend was
equivalent to $4.72 per share on
the common stock. comparable
WAO1A 044.OO pei S11dIC III Gllc P1C-
ceding year. Dividends of S per
cent on the preferred stock and
8 per cent on the common stock
were paid in quarterly install
ments, these being the same rates
as were paid in the preceding
year.
Grade Crossings Out
The net increase in capital in-
vestment in physical property was
$5,044,549. No large projects were
undertaken. the improvement pro-
gram having been limited to i'm
Inediately necessary or expense
saving items, including the con.
struction of new freight depots at
Durham and Lexington, N. c., and
the provision of locomotive fuel
handling plants at Allendale, S. c.,
and Wilton, Ala.
Water treating plants were in.
stalled at 19 points; a four-track
team yard built at Atlanta, Ga;
additional passing tracks provided
at II points to accommodate
longer trains; "a highway grade
crossings eliminated, and lis
miles of new 100-lb. rail and 81
miles of new 130-lb. rail laid in
the main lines.
The Washington times., 1931-03-30
By LEWIS HANEY
Director NetD York University
Bureau of Business Research
and Former Economist of


Bureau of Business Research
and Former Economist OF
Federal Trade Commission.
Although at first glance it
seems disturbing, we really should
welcome such news as the cut in
alcohol prices.
The market for industrial alcO-
hOl has broken sharply, falling
from about 35 cents a gallon in
tank car lots to "a cents. This
means that competition has
broken out and that the industry
is going to liquidate.
For a long while the price of
denatured alcohol has been main
tanned. There is an industrial
Alcohol Institute" and one may
suspect that this organization
may have sufficiently modified
competitive forces to allow price
"stabilization" at too high a level.
Hang On Too Long
Anyhow the price was kept up
while enormous stocks accumu-
lated. 1t was kept up in spite of
a so per cent cut in the chief
raw material, black strap molasses.
That seems to be the trouble
with many such trade organiza-
tions. They fix prices which are
higher than the law of supply
and demand would allow. These
prices stimulate overproduction
and encourage the use of Substi-
tutes. Finally the market breaks.
Sometimes they seem to get
away with it. Thus the steel
companies have maintained a
uniform and unvarying price on
steel rails for many years. There
is no substitute for steel rails
and the steel companies seem to
work closely together so that they
avoid overproduction.
But can anyone be sure that
the high price of SAB a ton for
rails is not hurting the railways?
The Washington times., 1931-03-30
Income Tax to Date
Off SIO9,OOO.OOO

Income tax collections from
March l to March q totaled
1929, ,116,000, reduction of $780,
100000 under those received dur
ing the same period last year, the
Treasury Department announced
today.
Collection of all taxes during
the fiscal year, from July 1 to
March 27, amounted to $780,
100000, drop of $302,O0O, 900.
With three more days remain
ing, officials believe March col
lections will totla about $685., ,OOO.-
900, against $3.50, 100000 paid tnc
Treasury during March, 1880
The Washington times., 1931-03-30
Burlington Gains
Gulf Road Control

The Chicago, Burlington and
Quincy Railroad Company has
acquired, what is believed to be,
a majority control of the Gulf,
Mobile and Northern Railroad
Company.
The Interstate Commerce Com
mission recently granted permis-
sion to Frederick E. Williamson,
president, and C. E. Spens, execu-
tive vice president, respectively,
of the Burlington Road, to serve
as directors Of the Gulf, Mobile
and Northerna~.,s - -, .-@
The Washington times., 1931-03-30
Block Net Earnings
SI,434,I95 for 1880

Paul Block, president of Con-
solidated Publishers, Inc, reports
that consolidated net earnings OF
the company and subsidiaries
available for interest and taxes
for the year ended December 81,
1880, were $1,434, 1875, equivalent
to SAG times total interest
charges. These comprised $197,-
AL interest on company's 6A
per cent collateral trust notes and
$65,O78 miscellaneous net inter
lest.
Earnings of $2,O46,176 in 1929,
and $1,451,178 in 1928, on the
same basis, covered total interest
charges in such years 7.59 times
and 4.81 times, respectively.
The Washington times., 1931-03-30
Pennsy Operating
28,O62 Track Miles

With a total mileage equal to a
rail line around the world and
across the American continent
again. the Pennsylvania railroad
operate last year a total of 28,062
miles of trackage.
In the last 10 years the Penn
Sylvania has added 625 miles of
trackage to its total system lines.
The Washington times., 1931-03-30
UnderUOOd-ELLiOtt
OlUnerS UD ShUrDLu

The floating supply Of Under
wood Elliott Fisher Company
common stock registered in brok-
ers' names now is II per cent Of
the total outstanding. having de-
creased one-third during past
year, Philip D. Wagner, presi-
dent, stated at the stockholders
annual meeting.
During the same period, reg
istered holdings of insurance COM
panies Increased 48 per cent and
those of banks, trust companies
and trustees increased 10 per cent.
The Washington times., 1931-03-30
1897 Corporations
Report Income Dip

The aggregate net income of
the 1897 industrial, railroad and
utility corporations so far report.
ing for 1880, was $2,898, ,553, 900
as compared with $4,372,599 900
in 1929 says a current survey by
the Standard Statistics Company,
of New York, which adds:
Segregated by major divis-
ions, LIZA industrial companies
earned $1,692, ,O96,O a decline
of Al per cent from the preced-
ing year; 141 railroads reported
net of 1887 100000, a relative
construction of AZ per cent,
while the aggregate of 81 utili-
ties was $S1S,754,OOO, or a gain
of l per cent"
The Washington times., 1931-03-30
Price Cutting Beneficial
Now, Haney Asserts

1t may be that IL a price of $40
or S3S were made, the railways
would be able to buy more and
thus benefit the whole situation.
Added Sales Solution
Another sign of the times is
the decision of Canada Dry to
reduce the price of ginger ale
and to increases sales effort at
the lower prices. That is a step
in the right direction. The gen.
eral price level is lower.
People have less money to
spend. The way to get business
is to make price, as low as the
most efficient methods of produc-
tion will allow and then push
sales.
Lower prices may be the only
way to move accumulated stocks
of goods. Certainly they will
tend to stop overproduction and
to increase the quantity con-
sumed.
There has been too much effort
to fight the necessary readjust-
mentS in business. We have tried
tariff and farm boards and in
flated bank credit. Our business
men have tried proration, pooling
and price agreements.
But prices are coming down.
It looks as though they are going
to get back to prewar levels.
Many raw materials are already
there.
Results Beneficial
We should therefore regard as
constructive any price cuts de-
signed to bring over-priced items
into line with the general level.
They may hurt for a time, but
they will help to restore normal
conditions.
We should remember that if
the prices of wheat, oil, copper,
alcohol, etc. had not been main
tanned artificially by some one
there would not be the burden
some stocks of these commodities
that now exist.
The Washington times., 1931-03-30
VOTES OIL GRANTS

PARIS. March % G.N.SO The
French Chamber of Deputies has
passed a bill providing for the
development of oil concessions IN
the Mosul fields. France will
subsidize private enterprise up
to 35 per cent, according to the
bill.
The Washington times., 1931-03-30
UTAH GAMERS CURTAlL

j. S. Barker, president of the
Utah Gamers Association, states
that several of it's canneries will
not operate the coming season,
due to overproduction last year
and heavy surplus in the ware
houses Of the company.
The Washington times., 1931-03-30
CHICAGO BOND SALES

In connection with the offering
today of $8,145,00 City of Chi
cago per cent gold bonds, the
bankers announce that IS per cent
of the bonds have already been
sold
The Washington times., 1931-03-30
WILLOW CAFETERIAS

Willow Cafeterias. Inc, has
elected Hermann G. Place, a vice
president of the Chase National
Bank, to its board of directors to
succeed James r. Miller, resigned.
The Washington times., 1931-03-30
N. Y. Curb Market
High Low Last ,

High Lc
Aero supply B........l an
Affiliated Prod...."..I IL ! q
Agfa Ansco. o...........l IL II
Agfa Ansco pf. ........I rs ! q
Alum Co of Am....... 1S1 4 1SI
Alu mCo Of Am pf.... 1OS a 10!
Am Light & T....... sh
Am Natl Gas. s......... 4b =
Am States Pub Sy A.. 20 y
Amer Superpwr. $500. l5A /!
Appalac Gas ........
Arcturus Rad ......
Ark Natl Gas A..... SIS
Art Metal .......... Z =,
Asso Rayon pf...... go 6,
Asso Rayon pfd cod. SO y 5,
Atl LObos Oil pf...... "a =,
All Securities Corp. 1lN ]
Blue Ridge ....... 81 =,
Blue Ridge CIV pf.... 81 3,
Cana Marconi ...... ga
Carib Synd ,....... IN
Cent Hudson GRE ct n 26S 2,
Cent Public Service Del Is Il
Cent Pub Service Nd A 1874 i
Cent states Elec. ... liz !;
Centrifugal Pipe 80. IA =.
Chain Stores Stocks. II j.
Chatham Phen All nv 158 L
Chief Consolid .... y
Cities Serv ........... Is i
Cities SerV pr. .".... SS% .,
Cleveld Tract ...... Sh
Community Water -. 11h II
Cons Copper M...... ) !
Cons Gas Bait. ........ 9612 81
Cont Shrs CIV pf. 3S 81
Cord Corp ..-....... IL IL
Cosden Oil .......... .
Cuneo Press .......... S5 8
Driver Harris pf...... ga
Durant ..............
Eagle Picher ...... 81
Eastern st Pw b.. 2O% 1!
Eisler EIec ......... 5h
Elec B & S....... 52% 8
Elec b & 8 pf...... 10S u 10'
Elec B q s cum pf 95h 81
Elec Pwr Assn. ...... 17A /
Elec P Asso A...... 16A j
FL Pwr & 1t Op war 30 q
Elec Sharehd ...... 16A i
Empire Corp ........ ~
Empire Pub Service A 4
Empire Steel ....... III
Eng Gold Mines ..... II
European FL A....... 10 II
European FL dbr rts. 2h ..
Eyans Wallor ....... ~
FaGeol Motors ...... !
Ford Motor Ltd. ..... 16h i
Gen Alloys ........... 6h /
Gen Aviation ........ 10h 1,
Gen Bak N 7 ....... 22A 2
Glen Alden Coal .... Al 4
Globe Und Eek ....... Sia
Golden Center Mines Ia
GOldma Sachs Tr &C.. ~
Gramaphone rcts .... 10 II
Graymur Corr ....... 2S 9
CT ARP Tea v..... 23O15 81
Ct ARP r 1st pf. 80. 11Sh IL
Grocery Store Proc vic 6
fulf OH ............. 65A b
Happiness Candy zee. "a
Hires A ............. 27h 2
Hudson Bay ......... 5la
Humble Oil .......... 55A 5
Upgrade Food .......l An
Imp Oil Can reG...... Is /
Imp oil Can new..... Is ]
Imp Toh CT Brit. ...... 2Oh 2
insult Ut Inv......... 39& 5
Tns of n A. 6Oia 6
Insurance Sec ....... Sh
Intercont Pet ........ h
Int Util B............ AZ
Irving Air Ch. ........ 10 /
Italian Sup A....... AZ
Lehigh C G. Nav new PAN 2
Leonard Oil ..........
Lone Star G.......... 219s .
Long Island Lt....... 33% 3
Mavis Bot'l ........
Mead Johnson ........ los 9
Memphis NG .......... 1O3s /
Metals e. Mi s ..... 13S
Mid States Pet B v....
Middle w Util ........ 22h 2
Miss Riv Fuel bd rts. III
Missouri K Pipe l.. 81
The Washington times., 1931-03-30
McLachlen Banking
Corporation

or Washington, in the District Of Co.
lumbia. at the close of business on
March rs, 1881.
The Washington times., 1931-03-30

RESOURCES
I. Loans and discounts. $1,S13,772 81
2. Overdrafts ......... 467 80
3. United States Govern
ment securities owned. 2027 so
4. Other bonds, stocks
and securities owned. s1o.1os 81
6. s. w. Br. banking
Ss1,o14 10 .........' 15sSs114
Z. Real estate owned other
than banking house. Ssss 70
9. Cash and due from
banks .....::......; sas, 800 Il
other cash items.... 7,133 90
IA. Other assets. 19,459 Sc
Total .............. s2,SsO.21 ss
LIABILITIES
IS. Capital stock paid in... 115oOoO 90
II. Undivided profits-net. As, 9S6 81
Is. Reserves for dividends
contingencies. etc. 2O,C52 so
21. Due to banks, includ-
ing certified and
cashiers checks out
standing ......... $3.50 IS
20. Demand deposits ,.. 1,SS7.573 "A
"a. Time deposits ....... 1912 ~
81. Other liabilities ...... 522 rs
Total s..s............ $2,6oO 2l4 6S
District of Columbia, ss:
I, JOHN A. MASSIE, Cashier of the
above-named bank, do solemnly swear
that the above statement is true to
the best of my knowledge and belief
JOHN A. MASSTE,
Cashier.
Subscribed and sworn to before me
this 27th day of March. 1891.
(seaD EVELYN E. MCINTYRE.
Notary Public.
CorreCt-Attest:
F. r. HORNER,
A. McLACHLEN.
EDWIN H. ETZ,
H. e. BITTINGER,
GEORGE MILLER, .,
'-' '-' ~ ''- DirfetorA
The Washington times., 1931-03-30
BANK STATEMENTS

REPORT OF THE CONDITION
OF the
The Waterbury Democrat., 1931-09-12

Shortly after the Waterbury boys hit the town and had become temporarily acclimated, they lost no time in slipping into uniforms for limbering up drill at Edge water park. Every last one of them appears to sense the battle that awaits them this afternoon, and showed all kinds of life in their practice, despite humidity which would ordinarily slow any team down to walk. The Edge woods, first opponents of the Wa terbury champions, are reputedly strong. but Jablonowski is consid- cred quite equal to the task ahead of him. Incidentally, he has al- ready attracted considerable atten- tion here, due to the fact that his brother Pete Jablonowski Is doing quite we'll with the Cleveland h. dians this season.
 Coaches Ready
 Henry Darlington and Joe Co.'S grove are on hand to aid the boys put across their first victory this afternoon. Baseball plans for the day were in the making this morn ing, with confidence the outstand- ing feature in general from John- ny Devito's array. Attorney John Duane and his brother Ed, also a barrister of Cincinnati arrived on the scene and had great talk with the lads at the Hotel Winton last night. They will form the nucleus of a small Waterbury cheering section at the game to- day, others on hand from the Brass City including: Fritz Kulman, Joe Zaza and Jack Carroll.
 First round opponents follow:
 New Haven vs Old Forge A. C of Scranton, Penn; Gainesville vs Newcomerstown; Birmingham vs Flint; Detroit vs Cleveland; In- dianapolis vs Lorain; Kansas City vs Fort Wayne: Omaha vs Cincin- nati: Montgomery vs Dayton; Pontiac vs Dearborn.
The Waterbury Democrat., 1931-09-12
JUNIOR GOLFERS
 PLAY TO-DAY FOR MATTATUCK TITLE
Ossie Gray Defends Title Against Fast Field Senior, WOmen's Play Later in Month

The unusual situation of junior members monopolizing the male golf championships of the Matta- tuck Country club this year rose to-day. with the opening of the iunior title play this afternoon. Ossie Gray, 1880 junior champion will defend his crown against a small but keenly able held inciud- ing Ned Farley, Bob McDonaia' Prim Barrow, Bobby Healey, Eddie and Fred Carr, Bobby Farley ana Bobby Gray.
 Boys Are Good
 Paul Prill, club professional Will start the boys off on their 1S hole rounds. with the two best ball SCOT CTS to play it out for the title. Some of the best golf of the sea- son will undoubtedly be seen when the younger members tee on tnis afternoon, with one of them quite pt to succeed to the senior cham pionship also.
 Two More Meets
 Next week, preparations for the staging of the senior mems tourna- ment and the women's champion ship play will be made. George Horan. Mattatuck champion for the past three years will not be entered in the senior competition this sea- son. which will leave the field wide open for half dozen evenly matched opponents including Johnny Derwin, Dr P. J. Brennan, Ed Farley, Jack Freney, Ed Mc- Donald and Eddie Corrigan.