davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
AGREEMENT FOR STERILIZATION
OF SILVER PRICES is URGED

While it is now evident that this
cannot be done without cooperation on
the part OF other governments, he said
1T is still entirely feasible if the neces-
sary cooperation is furnished.
1T seems probable that the volume
OF mine production of silver, especially
from silver mines proper, is beginning
to fall, with the prevailing lower price.
There is every present reason to believe
that production of silver in 1881 will
be an amount below that of 1880. AS
mine production falls-assuming de-
mand in India and China to remain
constant-it becomes obvious that the
Indian government would be able to
sell still greater amount of its excess
silver.
1T thus seems that it Is for the in
terest of India to strongly cooperate
with the governments in stabilizing the
market price of silver-certainly so long
as the production of new mine silver
does not exceed such an amount as WI
prevent midas selling the Necessary
amount to protect her reserves"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
THREAT OF RUSSIAN
EXPORTS PERSISTS
Lumber and Pulpwood Interests
Concerned Over Continuance
of Dumping.
BY J. c. ROYLE.

The restrictions recently placed on
the importation of lumber and pulp
wood from certain sections of Russia
have not suf1ced to remove the danger
from Soviet Russia to American COM
merce and industry. That is the con-
clusion drawn by representatives of a
dozen major industries represented
here which is being presented to Gov
eminent departments and Federal legis-
lators.
The main danger from the Soviet
Republics is asserted to be in oil, wheat
and textiles There has been a strong
demand made that Russia be prevented
from dumping manganese into the
United States markets. Equally strenu-
Gus efforts have been made by the iron
and steel institutions to prevent an en-
barge, on the grounds that America
does not produce sufficient manganese
for domestic use. But manganese, rated
only eleventh in the list of Russian
exports in the last year. Efforts have
been made by the anthracite operators
of Pennsylvania to curb the entry OF
Soviet coal, but coal ranked only tenth
in 1880. Oil, however. was closely be-
hind lumber, the leader in the export
list, with furs third, wheat fourth and
textile goods fifth.
Oficial Washington is now earnestly
considering the restriction of imports of
oil from Central and South American
fields. Russia is preparing with the ut
most speed to become great factor in
the worlds oil markets. Before the
World War nearly SO per cent OF the
entire output of the Russian fields, ex-
cept the gusher wells, was produced
by bailing Today not over 3 per cent
is produced by bailing. The oil indus
try has practically been entirely cleo
trified The cost of power per ton of
oil produced has been reduced 80 per
cent in the last five years. This has
lowered drilling cost to an enormous
extent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
BIG DEMAND NOTED
FOR BANK PRESIDENTS

At least nine Chicago banks elected
new presidents in January. Samuel j.
T. Straus was promoted from vice presi-
dent to the presidency of the Straus
National Bank & Trust Co. A. A.
Thompson was elected president of the
Albany Park National Bank & Trust
Co., Matthew A. Harmon is the chief
executive of the Hyde Park-Kenwood
National Bank, Oliver B. Cottle is presi-
dent Of the Jackson Park National. E.
T. Behrens was elected head of the Lin
clon State, Frederick s. Pope is now
president of the Old Dearborn State,
Eugene Abegg is president and director
of the South Side Savings Bank & Trust
Co., Henry j. Siewert Is the new presi-
dent of the Portage Park National Bank
and Charles v. McErlean, former vice
president of the South Central State
Bank. was elected president Of that in
Stitution.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
IDLE CAPITAL DISBURSEMENT
IS URGED BY BANK OFFICIAL
Billion Dollars of Corporate Funds Is Key
to Revival In Business, He Believes.
Would Reduce Loans.

this money would in turn be used by
individuals to reduce their bank loans
largely secured by securities purchased
at much higher prices than now pre-
vail, and which are now being liqui-
dated by the slow and painful process
of taking money from current earnings
month by month In a period when
earnings in many instances are cur
tailed.
Frozen Credit.
1.-THE reduction of collateral loans
would release frozen credit in the banks
and they would resort to the bond mar
ket, the commercial paper channels and
the call money market. all of which
would be far more liquid than collateral
loans. Furthermore. when business
again started to expand, the corpor-
ations, not being so heavily endowed
with money, would turn again to their
banks and to the commercial paper
market for funds and the banks would
have outlets for investment on a profit
able basis. They would then be utiliZ-
ing their resources as was originally in
tended-for the granting of commercial
loans.
But not all the money so released
would 60 toward the reduction of COL
lateral loans. Many people would buy
securities; others would reduce mort
cages on homes; others would buy life
insurance or put money in the savings
banks, and-what is still more sorely
needed-there would be tremendous
amount of buying power released for
the purchase of necessities and luxuries
of all kinds. We need not go into dis
cussion as to what portion Of billion
dollars in buying power could accom-
plish in restoring prosperity.
Suffice 1t to say that II good times
could be wooed back by the purchase of
half billion of Government bonds, as
was suggested by the president of the
Sun Life Assurance Co.. how much more
firmly would it be established If 1t were
stimulated by the return of billion
dollars to the legitimate owners-the
stockholders Of our hundreds of cor
norationSI"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
COPPER STABILIZED
BY NATURAL LAWS
Economic Experts Declare Present
Price Level Will Stimu.
late Recovery.
Special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK, February 16.-The like.
lihood of heavier purchases of copper
to compensate the curtailment of 1890
should. in spite of excessive stocks
prevent the price of copper from sag
gtng further, according to the Alexan-
der Hamilton Institute, whose current
Business Conditions Weekly says
1T is apparent that the price is now
at approximately the correct level to
keep the output properly curtailed and
to stimulate recovery in the demand
In view of the heavy stocks on hand
no sharp price advance is as yet war
ranted. If the producers can restrain
themselves from trying to fix the price
at an artificially high level, as they
attempted to do in November, they
will be able eventually to reduce stocks
to normal level and to lay the founda-
ton for a real revival in the demand.
This will give them the opportunity to
advance prices gradually to a more
profitable level without the distressing
consequences resulting from a disre-
gard Of the law of supply and de-
mand."
Regarding the attempt to boost the
price of copper to II cents last Novem-
Der the institutes bulletin of Novem-
Der % said:
With conditions nearly right to en-
able 9.25-cent copper to balance pro-
duction with consumption, the mark
ing up of the price to IL cents threat
ems to postpone the genuine solution
of the copper problem, solution which
was apparently imminent before the
producers recent action. In the first
place it is unlikely that copper pro-
duction will be reduced to the extent
indicated by the producers agreement
Agreements to curtail production have
never proved particularly successful
when prices have been sufficiently high
to warrant an increase in output. In
the second place, the higher price of
copper will tend to modify recovery in
the consumer demand after the sub
siding OF temporary rally caused by
quirements by consumers ignorant of
the true state of affairs and fearing
still higher prices.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
NEW YORK COTTON

NEW YORK, February Is (Spe-
ciaD Opening cotton prices today were
unchanged to points lower. There
was tendency to hold long commit
ments in near months and sell dis
tant contracts. However, a moderately
large number of sales from Southern
houses offset the buying in near
months.
Opening prices we're: March, 1925,
OF 2; May, 11.12, unchanged; July,
l1.36. of 2; October, 1854, unchanged;
December, 11.8l, of 4, and January,
1l.89, of 3.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16

500; fair to medium, 400 to $50; plain
to fair, 800 to 400; common to plain,
200 to 800
Heifers-Choice to prime, none; good
to choice, none: medium to good, 7.00a
$50; fair to medium, 6.00a7. 90; plain
to fair, 5.50a6.00; common to plain,
4.50a5.25.
Fresh cows and springers. 30.00a
1000.
Sheep and lambs-Receipts, 900
head; light supply; market higher;
sheep, 1.50a400; lambs, 4.50a9.75.
HogS-Receipts, 1900 head; moderate
supply; market higher; lights, CASA
$40; heavies, 7.00a7.85; medium, 8.45a
$40; roughs, 5.00a6.35; light pigs, LISA
8.25: pigs, 8.45a8.70.
Calves-Receipts, 400 had; light
supply; market higher; calves, 5.00a
HOO.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
Baltimore Markets
Special Dispatch to The Star.

Special DlSpaLCh 70 inc bIdI
BALTIMORE, Md, February 49,
Potatoes, white, 100 pounds, l.25al 30;
sweet potatoes, barrel, 2.O0a4.0o; yams
barrel, 2.50a3.5O; beets, crate, 2.25a2. rs;
cabbage. ton, 16.00a20.00: carrots
busheI, 5Oa75; caulifiower. crate, 1.50a
200; celery. crate, 275a3.75; eggplants
crate, l.50a4. 90; k&le, bushel, LOCAL 10;
lettuce, hamper, 75al so; peppers, crate
l.00a250 parsnips, bushel, LOCAL 20;
spinach bushel, 50a80; tomatoes, crate
l25a5 90: turnips, bushel. 80a1 20; ap.
pies. bushel. 60a2 90; per box, 1.25a2 rs;
grapefruit, box, l.S0a2.60; oranges, box
2.00a300: tangerines. box, LOCAL rs;
strawberries, quart. 37a47.
Poultry. alive-Turkeys, pound. 36a40;
old, -20a32; chickens, springers, 26a3S
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
Steel Plant Operations.

NEW YORK, February Is (P.-Steel
plant operations in the Youngstown dis
trict this week will remain unchanged
at SO per cent of capacity, Dow, Jones
d Co. reports. Youngstown Sheet &
Tube activities will decline 5 per cent,
Sharon Steel Hoop Co. will drop 3 per
cent, Mahoning Valley Steel Co. will
resume operations at its Niles, Ohio,
plant and the Falcon steel sheet plant
OF empire Steel Corporation will re-
sumo operations after two weeks of idle
ness
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
COAL STOCKS UNDER 1880.

Commercial stocks of bituminous coal.
used largely for industrial pur-
poses, amounted to 37,2OO,0O0 tons on
January l, 1881, according to the quar-
terly survey just completed by the
United States Bureau of Mines, DEPART
ment of Commerce. In comparison with
the amount on hand at the beginning
of the previous quarter, this is an in
crease of 1900. 900 tons, but it is 3,100,-
600 tons less than the quantity in stor-
age on the same date last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
Special Dispatch to The Star.

Special DlSpatCn TO Inc 5tAr
NEW YORK, February 16.-Distribu-
ton of the vast amount of idle money
held by corporations, far in excess Of
their reasonable or expectant needs as
an aid to prosperity, is advocated by
Betram o. Moody. vice president of
First National Bank of Amherst, Mass.
This is referred to as idle money"
relatively speaking, because 1t cannot
be invested permanently and is being
held in the form of bank deposits, call
money, or short-term securities. That
portion of 1t which is deposited in
banks is considered as temporary de-
posts and is invested In the most
LIQUID manner available. The net re-
suit Is a Cutting of the short-term
money market and the creation OF a
false impression Of great ease.
At the same time that these hum
dreds Of corporations are holding more
money than they can reasonably use,
the banks of this country. it is pointed
out, are loaded with tremendous num-
Der Of collateral loans secured by stocks
and bonds which have persistently re-
fused to be liquidated, although loans
by brokers have been steadily reduced
ever since the stock market crash in
1929.
Urges Gradual Process.
Tracing the change from the use OF
commercial paper by corporations and
firms to the issuance of bonds and pre-
ferred stocks for financing business
needs, Mr.. Moody, writing in the Amer
lean Bankers Journal, considers what
the possible results would be if these
corporations with excessive cash re-
sources were to distribute over period
of. say the next year enough cash to
bring their current asset position down
to a comfortable figure.
Probably 81 900 100000" he states,
could be released by this action-pos-
sibly more. It would, of course, be a
gradual process, but it is interesting to
follow the possible results. First would
come a reduction of money held by cor
porations in banks and like increase
in money held by individuals. Much Of
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
BY the Associated Press.


NEW YORK, February 16.-One of
the easiest steps that could be taken
internationally toward curing the cur
rent business depression would be an
informal agreement for the sterilization
of silver, in the opinion of Francis H.
Brownell, chairman of the American
Smelling & Refining Co.
Mr.. Brownell, who recently suggested
that the United States, Great Britain,
India, France and Indo-China come to
an understanding on the question of
selling government-owned silver at a
fixed price, discussed the extent to
which India could cooperate in such
informal sterilization.
India has large excess stock of sill
yer. chiefly in rupees, which is to be
sold over a period of years, in order
that she may support her gold reserve
The original plan for the disposal Of
this metal, Mr., Brownell said, contem-
plated its sale over q period of 10 or
more years, which arrangement would
not greatly disturb the market price.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
STEPHENSON HITS
EASY MONEY POLICY
Head Of Bankers Association Be-
lieves Consumer Demand"
Should Determine Credit.
BY the Associated Press.

Rome G. Stephenson, president of the
American Bankers Association, told the
Senate Banking Investigating Commit
tee today that bankers generally felt any
expansion of credit facilities should be
based on actual consumer demand"
Broadening of the base of Federal Re-
serve system credit, he said, should not
be brought about through provision of
easy money"
Stephenson made no recommendations
for new legislation on behalf of the
bankers association. He said an Eco
nomic Policy Committee was studying
the question and any concrete proposals
should await completion of the survey.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
CHICAGO DAIRY MARKET.

CHICAGO, February 16 (P.-Butter
firm; 9,375; creamery extras (92 score) +,
27H; standards go score, carlots)
27A; extra firsts (90-91 score), 20
onds (8687 score), 23la-24.
Eggs firmer; 21,010; extra f1rsts, 1872;
fresh graded f1rsts, 5l2; ordinary firsts,
l4-14R.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
PARIS BOURsE PRICES,

PARIS, February 16 (P).-Trading
was dull and prices were easy on the
bourse today.
Three per cent rentes. SO francs 80
confines. Five per cent loan, 101
francs 60 centimes.
Exchange on London 1913 francs 9312
centimes. The dollar was quoted at IS
francs 51La centimes.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
Furnace to Be Blown In.

NEW YORK, February Is P).-Jones
d Laughlin Steel Corporation is ready
to blow in at its Aliquippa works what
Is said to be the worlds largest blast
furnace. 1t is expected that it will pro-
duce more than LOO tons Of iron a
day. 1t has a 281a-foot hearth.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16

Dogs hair Is the latest material to be
spun and woven into textiles ut Brad
ford, England.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
NEW YORK CURB MARKET s s III :: : S %::

Note-An stocks are sold in one hundred-share lots
excepting designated by the letter (250s)
which shows those stocks were sold IN odd lotA
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
FOREIGN EXCHANGE.
(ou9taticns furnished by W. B. Hibbs a. Co. }
Nominal gold Selling checks

In Q recent IRE at Roubaix, France,
! nearly 5000 bales oe wool were
destroyed.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16

H10hIS Expire
2S In Sou Cal A 20
rates in dollars quarterly or
Psyane bin In cash or stock eAdjusmnt Sv
oe IN STOCK. Plus
P p Ss in stock Plus o9 m Plus 81 in STOCK
The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1931-04-23

sulting geologist from Great Falls,
Montana. When completed, the
company's worth is appraised by
Fisher as being $1,600,000 exclus-
i've of certain lands, leases, fran
chises, contracts and other intan-
gibles.
100000 Investment
The entire program of the COM
pany, as outlined to date, calls for
pipe lines to Walla Walla and
Yakima, Washington, tapping
communities enroute. When COM
pleted the company will have in
vested approximately 100000
and expects to net a yield of ap-
proximately S1,000,000 annually
from the sale of gas and from its
production. These figures ale bas-
ed by Fisher in his report or the
amount of gas now used by these
communities served by artificial
plants.
The company was organized in
1923 for the purpose of taking the
development of the field. First
gas was turned into the mains in
December, 1929, commencing with
very few customers. At the pres
ent time more than 600 customers
are being served, including AZ in
dustrial consumers. Average rate
is rs cents per thousand cubic feet,
netting the company at its pres
ent status some $4,000 monthly
gross revenue.-Oil World.
The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1931-04-23
an He Dreamed
Oh! What a Dream

If there is one thing outside
the price of pork chops which
Bert PIOwman's mind dwells
upon, it is a free bridge. He
thinks and talks about it all
day lOng-and now he's got SO
he dreams about it, too. Here
is his actual dream:
81 had a dream-and Oh Boy!
What a dream! / dreamt that
/ was down to the p. p. & L.
office and it took me three
quarters of an hour to reach
my store. This was due to traf-
fic congestion. Cops were on
every corner directing traffic
and on every corner was a 10
story building, elevator shooting
up and down and abIaze with
lights. A large new hotel Occu
pied whole block and new res
taurants were using natural gas
for hot cake gridles. The street
lighting system was attracting
the attention of California tour
lists who were hunting for new
locations. A large crowd was as
sembled before the new hotel
where a heated argument was
going on. A very short man
punched a big one in the nose,
with the remark: D. it, we
ARE going to have free
bridge" And thrill of gratifi-
cation slithered down my back
as saw a reawakening of the
old fighting spirit Kennewick is
noted for"
The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1931-04-23

The 4-H club leaders of Benton
County held a meeting in Kenne-
wick Wednesday. The leaders from
Richland were Mrs. G. Pattee, Mrs.
B. Harvey and Miss Pauline Nc
Clendon.
The Misses Jessie and Rose Har-
ris, Anna Long, and Pauline Nc
Clendon walked to Kennewick Sum
day. The girls did not seem any
the worse for their ten-m1le
iaunt and said they enjoyed it.
Mrs. A. Stephens has sold her
home here to Frank Mosier and
will move to Seattle to live with
her son. Mrs. Stephens has a good
many household articles to dispose
of and has a great many friends IN
Richland, whom she disllkes to
leave. She visited Mrs. j. M:
Breithaupt on Tuesday and will
visit other friends before she takes
leave.
G. e. McClendon and family and
Mrs. G.. Pattee went to Walla
Walla on business Monday.
John Citron has bought the
place formerly owned by Glen Nc
Chan and moved his family there
Monday.
Frank Mosher has bought the
Stephen place and will move there
soon.
4 Mrs. Nola Sloan and her Home
Economics class entertained the
parents of the girls, the high
school faculty and the board and
their wives at a tea Friday. Tbs
girls are getting to be experts in
cooking and serving.
The grade school boys came UP
from Kennewick Tuesday after
noon to play the Richland grade
bows, but after the 18th inning the
dust made them quite playing.
F. r. Smith received telegram
from Spokane Saturday, stating
his mother was seriously ill. He
left Immediately for Spokane. Mrs.
Smith left two of her children with
her mother in Yakima and two
with Mrs. Guy Conwell and drove
to Spokane Monday.
Mr.. and Mrs. Ernest Johnson
had for dinner on Sunday Joe Mil
lard, wife and daughter, G. j.
Dam and family and Mrs. Teach
out.
C.. Cook and wife have moved to
the Graham place.
Mrs. Hilda Havstead of Santa
Monica, California saw in the pa
per that the cemetery was being
fixed up and sent check to help
the good work along. Mrs. Hav-
stead's mother and stepfather are
buried in Rest Haven.
Mr.. and Mrs. Morris Favro were
guests at the Clark home Sunday.
The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1931-04-23

At 7:30 some of the problems of
the young Christian will be dis
cussed and an opportunity given
for discussion.
Monday evening Rev. Andrew
Warner of Tacoma will be with
US to meet with the Sunday school
workers of Kennewick, Finley,
Richland and Pasco.
Wednesday evening we have The
Wright California Players in the
wonderful religious drama. "The
Feast of Belshazzar." They come
with the finest of Endorsements by
those who heard them last year.
Thursday evening Hon. Oliver
w. Stewart, a speaker Of nation
al reputation, will give a free lee
ture on Constitutional Government.
The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1931-04-23
Church Notices
Methodist Church

That people are interested in
their fellow men and the real prob
lens of life was revealed last Sum
day evening by the large crowd of
people who gathered to hear Troy
Bockstruck tell of the conditions
in Russia and his experiences
while there. The story as he told
it was intensely interesting and
every one greatly appreciated the
privilege of listening to this story
of Russia.
More and more we are convin-
ced that people are vitality inter
ested in religion where it is tied
up with the problems of the every
day problems of life. The subject
for Sunday morning at IL o'clock
will be ''The Church For To-Day"
The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1931-04-23
Richland Scouts Go to
Walla Walla Circus

Friday afternoon five scouts ac-
companied Rev. Hilbert, Scout
Master. to Walla Walla to attend
scout circus. which was put on
by the scouts for the purpose of
letting the public know what
scouting is. Ross Harding was
given his Tenderfoot badge in the
investiture part of the program.
He had passed the Tenderfoot re-
quirements previously.
The boys were entertained IN
the homes of Walla Walla scouts
over night, returning home Sat
urday afternoon. They saw all they
could of the city and flood devas-
tations Saturday morning. Mr.. Fill
bert reports the circus to be sue
cess and the Richland scouts to
be real scouts. The boys seem very
enthusiastic and say Mr.. Hilbert
is fine scout master.