davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-01-27
APPEALS COURT
GETS CASE

YOUNGSTOWN, Ohio, Jan. 27
G.N.SO.-Unless attorneys for
Youngstown Sheet and Tube are
able to obtain a revision of the
court schedule, the appeal Of the
decision of Judge David G.
Jenkins in blocking the merger
of Sheet and Tube with Bethle-
hem Steel Corporation, will be
made to the District Court of
Appeals when that body meets
here March 2, it was learned
today.
Sheet and Tube counsel, it was
said, is attempting to get an
earlier date set for the review Of
the injunction decision by the
appeals court.
Inasmuch as the court is said
to have a complete schedule of
cases before it meets in Youngs-
town, it was not deemed likely
today that an earlier date could
be obtained for the merger case
hearing. The court is now sit
ting in Jefferson.
Following the action Of Sheet
and Tube in posting bonds for
the appeal last Saturday, attorneys
for Bethlehem late yesterday
posted two $4,000 bonds for that
concerns part in the appeal.
The Washington times., 1931-01-27
RESERVE BOARD
LINKED WITH
DEBT BANK
Merger Was Medium Between
Federal and International
Institutions, MCFadden Says

Definite Identification of the
Federal Reserve Board with the
International Settlements Bank
established under the Young plan
for payment of German war rep
arationS, can be traced to Eugene
Meyer, jr., of New York, now serV
ing as governor of the board
under a recess appointment, Rep.
reSentative McFadden CRo OF
Pennsylvania told the Senate
banking subcommittee today.
The committee is conducting
hearings on Meyers nomination.
after Senator Brookhart of Iowa
criticized his banking activities
and connections on the floor OF
the Senate.
Bank Connection Cited
McFadden put in the subcom
mittee's record a letter he wrote
members of the Senate Banking
Committee concerning Meyers
administration of the Federal
Joint stock land banks when he
was a member Of the Federal
farm loan board; circumstances
surrounding Meyers appointment
to the reserve board and an al
legged "hOOk up" with the Morgan
banking interests.
He also gave the committee a
copy of a speech, he made in the
House December 20 last in which
he said he had gone into the
matter of international connec'
tions of the Federal Reserve
Board, including the Interna
tional Settlements Bank"
Coming to Meyers appointment
to the reserve board, McFadden
charged that a plan was made
for the deliberate removal OF
Edmund Platt, the member from
the New York district" so as to
make room for Meyer. He said;
The committee should aScer-
tain Just what led up to that.
1 know that Plat regarded
very highly his opportunity to
serve his country as a member
of the board"
Ability Denied
McFadden said Meyer was g
stock broker before entering the
Government service and viewec
things with a stock brokers' mind
He said he feared Meyer as
member of the board would carry
stock broker practices and opera
tions into the Federal Reserve
system. He said:
His early career as a New
York stock broker is his only
qualification as a banker.
1T was a well-knOwn fact in
Federal Reserve circles that Mr..
Meyer was after a job with the
board.
The Washington times., 1931-01-27
Rock Island Backs
Southern Pacific Case

The proposed acquisition of
stock control of the st. Louis
Southwestern Railroad, known as
the Cotton Belt, by the Southern
Pacific, was characterized by the
Rock Island system as "one of the
most elaborate major operations
in the history of Western rail-
roads" ?
Ina brief filed with the Inter
state Commerce Commission the
Rock Island said that not only
did this operation seek a subStan-
tial departure from the commits
Sion's consolidation plan, but it
involved radical realignment and
regrouping of established trans
portation systems.
'FOr the first time the South
ern Pacific, which is admirably 4
entrenched in Texas, Louisiana, !,
California, and in it's tranScOn- 4
tinental relations, is seeking to-,
step outside the field of it's an =
cient activities and become a ;
St. Louis line" the brief said.
The Rock Island said it would
have no objection to the grant
ing of the application provided
certain conditions were observed,
particularly the protection of in
terchange of freight at important
gateways. 81
Called Good HOOkup
The applicants brief said it
was manifest that it would be
difficult to conceive of an af-
filiation of railroads more con-
sistent with the provisions and
purposes of the law than the
grouping of the Cotton Belt with
the Southern Pacific.
1t pointed out that the irclus-
ion of the Cotton Belt in the Illi'
noiS Genital System would serve
none of the purposes of the law
and would not strengthen the
Cotton Belt in any way. =
The Washington times., 1931-01-27
Drury Banking Leader,
Is 7ireLess Traveller

He finds every place that he is
in interesting and no sooner is one
expedition completed than he is
looking forward to the next.
Born in County Roscommon,
Ireland, on July 6, 1864, the Irish
lad received his early formal
education from the Christian
Brothers school in his native
land.
He has been a resident Of the
District Of Columbia since 1885
and has taken an important part
in local events since that time.
He was one Of the organizers
of the Merchants and Mechanics
Savings Bank and also, of the
National City Bank and was vice
president Of both institutions for
some years.
He was elected president of the
Merchants Bank and Trust Com
pany when that institution was
organized and later became chair
man of the borad of directors.
The Merchants Bank and Trust
Company merged last fall with
the FederalAmerican National
Bank which is now the Federal.
American National Bank and
Trust Company.
Mr.. Drury also served as pres
ident of the Abner-Drury Com
pany, the Merchants Bank Invest.
ment Company and the Southern
Building Investment Company.
He is affiliated with the Board
of Trade, the Chamber of Com
merce, the Old Colony and the
Racquet clubs. His summer
home is at Bluemont, Va.
The Washington times., 1931-01-27
RAILROAD WINS
RIGHT To BUILD
NEW LINE
Subsidiary of Western Pacific
Given Right to Build a
New Branch on Coast

The western Pacific railroad,
through its subsidiary, the west
ern Pacific California railroad,
won a signal victory today when
the Interstate Commerce Commits
sion authorized the latter to con-
struct and operate line of rail.
road in San Francisco, San Mateo
and Alameda counties, Calf.
About 80 miles of construction
will be involved, and in addition
the Western Pacific was author
lied to acquire a one-third inter.
est in the so-called Quint Street
line in San Francisco
The effect of the commissions
decision is to give the Western Pa
cific an all-rail entrance into San
Francisco,
The Washington times., 1931-01-27
Receiver Appointed
For Central Coal

KANSAS CITY, Mo-, Jan. 81
J. M. Bernadin, president of the
j. M. Bernadin Lumber Co., was
today appointed receiver for the
Central Coal g. Coke Co. by Fed
eral Judge Albert L. Reeves.
Charles L. Reeves, president of
the c. tral Coal & Coke Co.
stated the company was tenn
porarily embarrassed for funds
to meet pressing engagements de-
spite strong asset position.
The Washington times., 1931-01-27
Texas Body Stops
NeU Acreage Plan

AUSTEN, Tex, Jan. PA res
olution indorsing the plan Of the
Southern Cotton Acreage Reduc-
ton Association has been de-
feated in the House of Represen-
tatives. Under this plan, banks
would not finance any cotton
farmer who will not reduce his
acreage Is per cent during the
period of 1881 to 1885.
The Washington times., 1931-01-27
Wall Street
HearS:

That American baccO
(ATB) directors will declare
only the regular dividend at
their meeting this week.
That North American Avia-
ton (NAV) netted about 81 a
share from its operating sub
SidiarieS in 1880.
That Goodyear is being sold
on the feeling that the SIS divi-
dend will not be maintained.
That Chrysler (K) is an at
tractive trading purchase.
The Washington times., 1931-01-27
CdLdWeU Forms
Investment House

George B. Caldwell, founder
and first president of the Invest
ment Bankers Association of
America, has established the in
veStment business of George B.
Caldwell & Co., Inc. Associated
with Mr.. Caldwell are Norris Nc
Lean as vice president and P. T.
Collins as secretary and treasurer.
The Washington times., 1931-01-27
Government Lists
Tax AbGtenientS

Estate and income tax abate,
ments announced by the Treasury
today follow:
Adelaide H: Frick, Pittsburgh,
$410,711: Helen C. F'rick, Pitts.
burgh, $141,026 estate of William
B. Cummings, Flint, Mich, $50 2,461 !:
Mrs. James Briggs, Detroit, $42,-
995, and William L. Mclean,
Philadelphia, $38,054.
The Washington times., 1931-01-27
STOCK PRICES
SEE MN { Ar
RALLY TOP
Economist Advises Caution in
Trading Of Day-to-Day
Operators; Reaction Hinted
BY LEWIS HANEY
Director New York University Bureau Of
Business Research and Former
Economist Of Federal Trade


Commission
Evidently the more or less
optimistic remarks of Messrs.
Farrell, Young and Baker helped
to lift the psychological pressure
on the market. Considerable
short covering was forced. Many
little syndicates or pools IN
creased their activities.
So last week, after Monday,
brought a speculative rally which
almost exactly wiped out the
losses Of the week before. The
market averages closed just about
at the level of two weeks ago.
It should be noted that the
utilities as a group made the
largest gains. This looks little
doubtful, but the railway stocks
advanced five points and held up
on Saturday, which is more en-
couraging.
Bonds Acted Well
The bond market gave a rather
good account of itself and closed
the week at the best level since
early November, last year. 1t con-
tinues notable, however, that the
banks are slow to go into the
general bond market and still
stick mostly to liquid Govern
ment bonds and Short-term securi-
ties and bills. Last Wednesday
l advised selling out on a four
or five-point rise, and I am in
clined to think that the market
has about made that much. There
seems to me no reason for not
following the original advice. At
the very least. l would place stop
loss orders not more than two
points under the market for
speculative holdings.
The professional operators may
be able 20 push prices up d little
higher yet. They will try to keep
the pot boiling while longer, for
there has not been much chance
to distribute yet. But it seems
impossible that the January trad
ing range will be much exceeded,
and. if that is true, this is the
time to take trading profits, not
to buy stocks.
Position Was Strong
A week ago the technical con-
dition of the market had become
quite strong. The short position
was overcrowded. Many stocks
were we'll liquidated, and the
floating supply was small. Wall
Street had been bearish so long
that a little revulsion in Senti-
ment was natural. Money in New
York is extremely easy. Pool op-
orators were anxious to get to
work and people with funds be-
came more willing to go into
trading "syndicates" to run stocks
up. So the rally came. Now 1
think it has gone nearly far
enough.
The market was caught flat
footed on Saturday. All the
leaders reacted a little, and a
large majority of stocks declined.
Coming close to. the highs reached
on January 9, this may be signifi-
cant. Although the volume of
trading picked up a little on the
rally, it did not rise to three mil
lion shares on any day, so not
much of a public following had
developed.
Little Business Pickup
More important still, business
news does not favor a further
rally at this time. Commodity
price averages are making new
lows, and the grain and cotton
markets reacted on Saturday.
The Washington times., 1931-01-27
Missouri Asks Right

The Missouri Pacific, railroad,
controlled by the Van aSweringen
interests, today asked the Inter
state Commerce Commission for
authority to issue and sell $61,-
100000 of first and refunding 5
per cent gold bonds. The bonds
will mature so years from Febru.
ary next.
The Washington times., 1931-01-27

of Washington, is a tireless
traveller,
Friends of Mr.. Drury claim that
it is not an itching foot" that
induces him to go places and see
things but that the man has all
but Unsuitable desire to visit in,
teresting places.
The Washington times., 1931-01-27
BUYS UTILITY ISSUE

CHICAGO, Jan. 27.-A New
York banking group has pur-
chased 100000 Houston Light
and Power Company, first and
refunding Az per cent bonds, due
The Washington times., 1931-01-27
Fishers Commodity
Price Index LOWe1

Irving Fishers wholesale COM
modify price index for the week
ended January % was at IT'S,
against 77.9 at the end Of the pre-
ceding week.
The Washington times., 1931-01-27

Peter A. Drury, who for many
years played a leading part in
banking and financing history
The Washington times., 1931-01-27

international Newsreel
PHILIP d. ARMOUR
THE LAST of the ArmourS is
no longer with the Armour
Packing Company. Philip D.
Armour, first vice president,
turned in his resignation last
week when directors failed to
elect him president to succeed
the late F.. Edison White. His
resignation removed the last
Armour from an executive posi-
tion in the firm.
The Washington times., 1931-06-23
GERMANY'S WONDER SHIP, THAT BEAT THE
VERSAILLES TREATY

Where there is will there is a way-when intelligence
patience and knowledge back of the will
This ship built by the Germans surprise to the rest Of
the world and recently launched what be done BY
a combination of science and will power
Germany thanks partly this countrys and money
and forbidden to build any fighting snip OF more
than 10000 tons displacement
She put engineers and scientists to work. on the ques
tion: How much of ship much fighting power, how
much speed can you develop within the limits of 10000 tons?
The powerful fighting ship skeched above called by
amazed Europeans 1.-The pocket bateship is Germanys
Everything was done to save weight $2oooooo SPENT
producing what noinay is "a cruiser under 10000 tons
but in reality first class batteship with the speed of
cruiser.
Her speed is 26 knots The range of her guns 1S miles
either broadde she use six 1-lnch guns with an
extreme range of 10000 yards.
This marvellous ship makes joke Of the 1OOOton cruisers
of France England and the United States
Outclassng British French and American ships, IN
speed range and gun this German ship could take
whole fleet of the other competing 100o0ton cruisers and
keeping out of range their guns sink the at time
No wonder old Hindenbug head of the German republic
was proud wonder Germans appauded him. and their SHIP
when this vessel was launched.
You NAV take away a country's independence TEMPO"
RAR1LY YOU can take away its money by the hundreds Of
millions of dollars year. You say You must not pre-
mare anv national defense You remain in condition
that will always permit us to conquer you al our ease "
choose
But if Won do not take away the BRAINS AND WILL
POWER Of nation or a man. that nation that man is not
conquered.
The Washington times., 1931-06-23
Rates and Valuation of the
Local Telephone Company

The Public Utilities Commission has received hint from
~ NICK. Clayton chairman of the public utilities committee
Of the Federation of Citizens Associations that there should
be real valuation here of the properties the Chesapeake and
Potomac Telephone Company the rates of that company would
have to down.
The commission is reminded that present charges to the
public based compromise entered into about four
years ago. That compromise brought slight reduction from
previous charges.
properties here of matters connected with the gas light
companies the commission may be much inclined to tackle
valuations and of the telephone company but will not
be able to escape these duties.
There has been carefully ascertained valuation of
the properties of the local telephone company by the p u
Owing the famous Baltimore fire, years ago,
records pertaining to the local company destroyed BY
the valuation of the Chesapeake and Potomac Tee
phone Company fixed by the commission at OF
December 81 1915.
ton figures before the commission 100000 This
difference represents additions to the local properties
through capital expenditures and it should be clear to tee
phone that the telephone has not been back
ward bahfu about claiming much in capital expenditures
Briefly the company has added approximately $17OOOOO
each year 1915 to valuation figures apparently unds
puted by P u c. officials during part of that time
That S under the claim of bettering service this
has SPENT in Is approximately 2OOOOO which
telephone must pay reasonable returns.
the returns had not been reasonable the telephone com
would have asking for increased charges That
itself is indication that the public justified in asking
for decreases.
Valuations of public utilities made in these days declining
prices not going to be imposing figures they have
been in the past when prices of materials high.
Inasmuch the public has paid public utilities
valuations based high reproduction costs would
about time that the public get benefits from vaua
tons based reproduction at lower prices, which would
unquestionaby establish lower valuation figures and should
bring lower charges.
The Washington times., 1931-06-23
Pollution of Rock Greek

Rock Greek polluted and therefore dangerous for bathing
ought to do much toward forcing District and park authorities
toward plans Congress will for prevention of pollution
of all streams in the District.
Health authorities year after bathers about the
pollution Of the waters of the Potomac River pollution not
necessary modern methods of disposal adopted
for this city.
Pollution of Rock Greek should be much easier to eliminate
and this elimination should not be delayed any longer than
District and Maryland authorities reach under
standing
Rock Greek place in the District where thousands of
families 60 during the It is particularly play
ground for small children and we'll adapted to bathing by
little ones.
indeed painful reflection park and city authorities
that they unable to agree plans for removal
pollution in this stream which possesses many attractions
to small children for wadng and bathing.
The emptyng of into such beautiful stream is
nothing short of criminal.
The Washington times., 1931-06-23

in the early stage when, strik-
ing (. defiant pose. he ordered
the emissary of the king to
carry back to his royal master"
the refusal of the representa-
tives of the people to retire on
the kings orders. 1t was a lib
erty or death" defiance.
DantOn, the
AudaciOus
And, at a later period, it was
Danton who assumed the role
of the audacious. When Ver-
dun-it was Verdun even then!
was threatened by the enemy
of the republic he made one OF
his most effective speeches
probably five minutes in length,
putting fire into the veins Of
Frenchmen and fear of the
Lord into the hearts of their
enemies with the closing sea,
tence:
"The tOcsin we shall sound
is not the alarm signal Of
danger, it orders the charge on
the enemies Of France. To con-
quer we have need to dare, to
dare again, always to dare.
And France will be saved"
The Washington times., 1931-06-23
Jersey Justice
An Example to Other States

The State of New Jersey tried convicted and sentenced
to death William Moore Fraser parade murderer in less
than three days.
Fraser was young who killed woman on February
8 and his Virginia with her body propped up
beside him.
The Jury that found him guilty selected in % minutes
The evidence for prosecution and defense completed
in less than one full court day.
The Jurors deiberated only six hours.
Young Mr. Fraser will die in the chair July 27 unless
further legal obstacles he is pardonedboh Of which,
it is thought, unlikely
At all events the laws delays which have made mockery
American justice in many States have been noticeable IN
this by their absence
The Jersey court tried Fraser sets example to courts
everywhere. ,
Tardy arrests and trials keep murder in the front rank
of American industries.
Prompt arrests and quick trials would put in the rear
rank.
The Washington times., 1931-06-23
Women as SOldierS-NO!

The right to force promise bear the
United States requisite citizenship again challenged
before the Supreme Court of the nation.
The court requested reconsider its 5to decision
refusing citizenship to Canadian woman who nursed Ameri
soldiers in France and who is willing again serve
country that any other way except in bearing
Probably the court feels unable to discriminate as be-
tween and in this matter of their duties under
American citizenship but the time far away when American
women will ever be called upon to bear arms.
that time should ever they will respond and will make
courageous soldiers There no mistakng the courage
The history of the world that They pain
better than men and when aroused, spurn dangers.
Here instance though where equal rights for men and
does not apply largely because will not permit
to apply Women correct this difference war by nursing
the sick wounded and dying feeding and otherwise supplying
the needs of soldiers That work do perform
efficiently women
The Washington times., 1931-06-23
Successful Revival Meeting
Old-Fashioned Camp Meetings

evangelist has been successful in this city in
old-fashioned revival.
There nothing unusual about that except that reviva
meetings churches not other days,
when religious frvor added largely to church membership
Human nature has not changed Proper appeals to mankind
still awaken attention to the doctrines of religion The good
that within responds to ideals of good strngly placed
before us, either in pulpits in literature.
Few city revva however reach the fervor of those
still conducted in oldfashoned camp meetings where
mer families leave their homes and live in the small houses
surrounding the rooted amphheaters erected in simple
by devout believers.
At these camp meetings running from two to three weeks
religion becomes business and conversions of unbeievers is
the principal aim.
There many of them 80 40 years ago. but
they still accomplish much for religion.
The Washington times., 1931-06-23

change government by peace
able methods.
These opposing theories are
not just now appearing in the
arena of debate. They have
been there for a very long time.
MuSSOIini'S Strength
Is His Audacity
The strength Of MuSsolini is
in his audacity. 1t must require
no little temerity publicly to an
nounce in Italy that the six
year-old child of a woman is not
hers but the states.
But audacity is always found
with leadership when it ap-
proaches genius. Napoleon pos
sessed the quality in a superla-
tive degree. With audacity he
won half his battles without
touching his sword. In any des-
perate battle it is supremely ef-
fective.
Read the speeches made by
the outstanding leaders of the
French Revolution and observe
the sweeping audacity of the
note they strike. This was the
magnificent thing in Mirabeau
The Washington times., 1931-06-23
RacketeerS Come and Go
Racketeering Goes on Forever

The Federal drive against New Yorks public enemies fol-
lowing the conviction of Al Capone in Chicago sounds impress
sive.
However even if it succeeds what difference will 1t make?
The beer running and booze running rackets and their
associated rackets profitable.
They will be profitable long prohibition on the
statute books.
Other gentleman will take the place of those by the
Government because racketeering spells money.
In Chicago indeed, to AL Capone has already
claimed the vacant throne will sit there until other
aspirant throws him out
Sending few public enemies a-even the biggest ones
merely means making the rung of the ladder for
those on the rung below.
Racketeering will last as long as prohibition lasts
The superracketeers may change from year to year
There will be other difference.