davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
U. S. SHIPBUILDING
SECOND IN WORLD
Great Britain Is First, With France
Third-Construction
Shrinks.
BY BRADLEY w. TRENT.

Special Dispatch to The Star.
NEW YORK, July 24.-The United
States has taken second place in world
shipbuilding, and Is now runner-up to
the United Kingdom, having displaced
France as the second largest shipbuild-
ing country. This all happened in the
second quarter of the current calendar
year.
The United States gained 10000 gross
tons under construction. This was in
sharp contrast with a decline in the
volume Of merchant ships under con-
struction in the other principal ship
building countries
Information obtained from the trans
portation division of the Department
OF Commerce shows that total gross
tonnage under construction during the
second quarter in all countries Except
Russia for which figures are not avail
able) amounted to 1926 900 tons, in COM
parison with approximately 1000 900
tons in the first quarter and 3,o5s,ooo
IN the corresponding period of last year
Ships under construction in the United
States during the second quarter totaled
30l ,489 gross tons, an advance of
10000 gross tons over the first quarter
and $4,000 tons over the total for the
corresponding quarter of 1880. bringing
this countrys figure to a higher point
than at any time since the war building
BOOM
AS result of the shrinkage in ship
construction in the United Kingdom
the United States is building only
about 100000 gross tons less than those
countries. In the preceding quarter the
gap was more than 460, 900 tons and a
year ago it exceeded 1,150,000 tons.
Just before the war the United King
dom led the United States by about
l.575 900 tons. Less than a third Of the
worlds merchant tonnage is now being
built there, whereas hardly longer than
year ago they were building more
tonnage than all the other maritime
nations combined
OF large ships of 10000 gross tons or
over there are being built Is. compared
with IA at the end of March. United
States shipbuilders lead with seven OF
those vessels under way. Five are being
built in Great Britain and Ireland and
France and Italy each is constructing
three.
CCopyright, 1919
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
OIL SHUTDOWN PLAN
GAINING IN FAVOR
Mid Continent Producers to Hold
Mass Meeting in Interest
of Trade.
BY the Associated Press.

By the Associated Press.
TULSA, Okla, July pa mass meet
ing of mid-continent oil producers has
been called for next Monday night in
Tulsa to consider plans for spreading
the shutdown movement that has re-
suited from low crude prices.
The call was issued by winston p.
Henry of Tulsa, chairman of the Okla
homa "Stripper" Relief Committee,
with the support of the Independent
Petroleum Association of America, Mid
continent Royalty owners Association,
the Oklahoma "Stripper" Relief Com
mittee and the Southern Operators
Association
I'VE must get the Oil producers to
agree not to open their wells Tor a
10 or is cent advance in prices"
Henry said Crude prices ere serious
" low. We must have 81 a barrel II
we are to continue in business"
Earl Sneed, Tulsa oil man, declared
East Taxes operators must join the
shutdown movement If it is to be sue
cessfull, else the major purchasers Will
eliminate Oklahoma and Kansas fields
from their purchase plans and obtain
their supplies in that flush field at 10
to 20 cents a barrel.
Gov. w. H. Murray advised news
paper men at Oklahoma City he was
still considering issuing an executive
order to close down all Oklahoma oil
fields.
The Barnsdall Refining Co. has joined
other companies in increasing to 40
cents a barrel the price for crude Oh
in Kansas. The company retains the
old higher schedule of rs to 81 cents
a barrel in Oklahoma. as compared
with the range of 10 to % cents paid
by some purchasers.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
BULGE IN BUSINESS
FORECAST IN FALL
Gradual Recovery in Home
Situation Predicted by
Many Economists.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, July 24.-Eudence that
the return Of general business pros
perity in the United States Is more in
timately related to the progress OF AZ
fairs in Europe Is becoming increasingly
apparent, IN the opinion Of Gage p.
Wright, president Of the Business Eco
nonic Digest. "Day.to-day movements
OF stock prices have become. in the last
lew weeks, weather vane of European
conditions to such an extent that mar
ket analysts look to changes in the po-
litical situation abroad for forecasts of
price movements on the New York
Stock Exchange" says Mr.. Wright.
The fact that the United States,
abandoning the traditional policy OF
isolation, is participating actively in the
world conferences for the betterment of
general conditions Is undoubtedly a
major factor in the domestic markets
sensitive reaction to developments
abroad. In general, however, It Is not
felt that the recovery here will be re-
tarded by this new significance Of Eu-
ropean influence, for the reason that
participation by the United States
greatly strengthens the prospect Of a
successful outcome in these international
conferences.
Nevertheless. the action Of the Sc
curities markets has emphasized the
important effect which European con-
ditions have upon conditions here. and
has served to turn the eyes OF American
business abroad in search Of evidence
which may imply a turn for the better
N domestic business
THE domestic situation Is not 90
highly involved 1t is the belief Of
many authorities that the recent trends
in industry point to a bulge in activity
this Fall. A rapid upturn is not ex-
pected. The opinion still prevails that
recovery will be gradual"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24

dividend rights in fight over proposed
merger with Bethlehem Steel, regained
these rights, effective July %, through
amendment to Ohio corporation law;
court may be asked to determine dis
position of accumulated dividends of
Sl,732.500 withheld from dissenters.
Caterpillar Traction common share
earnings six months ended June 80 n
cents, against S299
Chrysler Corporation declares regular
IS cents quarterly common dividend;
ended June 80 81 cents, against n
cents
General Printing Ink common share
earnings six months ended June 80
Sl.25 against $1.51.
Lion Oil Refining increases posted
price of smackover heavy crude 10 cents
barrel to 25 cents
Missouri Pacific r. r. to adjust wages
of officers and clerical forces.
Purity Bakeries common share earn
ingS % weeks ended July IL SLAB.
against SO for like period ended July
y, 1880.
Arundel Corpora tion-FirSt half COM
mon share earnings, $2.29 against $2.43.
Schiff Co-FirSt half common share
earnings, S1.89 against SLIT.
United States Industrial Alcohol
Deficit six months ended June 80, $527, )
287 against net income, S552, 485, equal
to SLAB a common share.
American Hard Rubber Co. omits
common dividend: paid so cents May
IS. and 81 previously.
Household Finance preferred share
earnings six months ended June 80,
$l1.76 against $1039.
Lehigh Valley Railroad June net OPP
er9ting income off 44.6 per cent; six
months off 231 per cent
New England Telephone d. Telegraph
common share earnings, six months
ended June 80. SAT- against SAL.
North American Light & Power
Four subsidiaries filed reduced gas and
electric rate schedules in Kansas.
Western Maryland Railway June sur
plus after charges, $52,142 against
S106 902Na year ego.
Ann Arbor Railroad June deficit,
$58,536 against net income. $l1 ,49S; six
months deficit, $132,4SS against net in
come $37,052.
Wabash Railway June net operating
income. S2O3,2O8 against $433, SAC; six
months, $1,365. LOG against $3,341,077.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24

| ming to cause annoyance in British
financial circles. Within less than two
weeks the loss amounted to Silt SOC, 000
or nearly 16 per cent of the present
holdings of about s75o,000.000.
However. gold is still above the figure
Of last January. when the drain of the
yellow metal assumed more serious
aspect than today. In order to arrest
further Withdrawals the rediscount rate
was increased yesterday from 2l2 per
cent to ga per cent.
Bank Rates.
The feverish haste with which bank
rates were lowered a little over q year
ago. when the so-called Young bonds
, were about to be sold to the public, is
in evidence today IN the other direc-
ton. Rates are being raised every
where. Austria has increased her bank
rate to 10 per cent, while Germany is
considering raising it from 10 per cent
to Is or 20 per cent.
Analysis, however, shows that
higher rate affords only temporary re-
lief. Lasting improvement requires
more concrete treatment. Some will
recall that at the height of the German
imitation about eight years ago an in
crease in the bank rate to go per cent
was unable to arrest the flight OF the
mark and the complete collapse OF the
currency.
To be sure, conditions are not 1.-THE
same, and steps are being taken besides
raising of rates to adjust the situation.
Uruguay's Foreign Debt.
With Uruguays exchange down to
exactly half of its parity, the question
of meeting the service on the country's
/ foreign debt has become very serious
one. A special session is being called
| by the National Administrative Council
| to discuss with the minister of finance
! measures which should be taken. 1t is
| not unlikely that the republic will de-
| eide to suspend sinking fund payments
| on her debts, as she did during the pc
Rod Of the war Continuance of in
terest payments, however, is confidently
! expected.
! (Copyright, 1881. by North American News
paper Alliance, 1nc.J
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24

to accept wheat as half payment for
machinery sold after July II. Deem
Der deliveries will be accepted at IS
cents buShei.
Lehigh Coal & Navigati ton makes offer
for Delaware Division Canal Co. minor
ity stock of $45 share cash or two
shares of company's stock for one share
Delaware Division.
Loose-Wiles Biscuit June quarter
common share earnings 88 cents,
against n cents; six months, S1.70,
against SITS.
Mapes Consolidated Manufacturing
common share earnings, six months
ended June 80, $478, against s486.
Minneapolis e. st. Louis Railroad June
net operating revenue off 1875 per cent
Northern Pacific Railway June net
operating income off 1876 per cent;
six months, off 62.3 per cent.
Montgomery Ward June quarter net
income. $407 .706. equsl to l cent a
common share, against deficit $l85,-
473: six months, deficit. S1,375.968,
against $2,503.733.
National Cash Register June quarter
class A snare earnings, 73 cents. against
IS cents; six months, Al cents, against
$142.
Newton Steel deficit six months
ended June 80. $198,087, against net
income, S328,565, equal to 95 cents
common share.
New York, Ontario & Western Rail
way June net operating income, $780,
4o4, against s66,760; six months, S719,-
972. against $4,000.
Penick e. Ford common share earn
ings six months ended June, 80. LAG,
against S218.
Pere Marquette six months deficit,
$751; ,994 against net income Sl,075,4
eou7l to s1O8 a common share.
Pittsburgh Terminal Coal deficit six
months ended June 80, s322,o37, against
deficit. S423, 429.
Public Service Corporation of New
Jersey net income IL months ended
June 80, $31 ,267,8l6, against s3o0o1,-
734.
Sharon Steel Hoop deficit six months
ended June 80, $681,016 against net
income, $30,l29, equal to cents
common share.
Standard Cap g. Seal common share
earnings six months ended June 30,
1853, against $1.79.
Texas Corporation posts prices of 35
cents and 40 cents for crude in several
sections; former range, 10 to % cents.
United-Carr Fastener common share
earnings six months ended June 80, 81
cents. against 10 cents.
United States Industrial Alcohol ad-
vances price Of denatured alcohol
cent a gallon to rs cents a gallon in
tank car lots.
WHY'S Overland preferred share earn
ings six months ended June 80 $24l,
against 81.
Yellow Truck g. Coach Manufactur-
ing June quarter net income S28,llO.
against 81 ,332,019; six months deficit
81 ,046,8 81, against net income $1,437,-
863.
of approximately $50, 900 shares of COM
pany's stock who lost their voting and
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
Washington Produce

pound prints, 2sh; tub.
27la
Eegs-Hennery. 22a2s; current re-
ceipts. 15a17.
Poultry, alive - Spring broilers, 8
pounds and over, 33a35; 2 to 21z
pounds. 32a3312: IL to 2 pounds, 2sa
30; Leghorn broilers, large, 24a2s:
small, 18a2o; Leshorn hens, large, 15a
Is: small, 13a14; ROSTERS, 12a13.
Dressed-Spring broilers, pounds
and over, 38a4o; 2 to ~ pounds, 37a
1872; IL to pounds, 32a35; Leghorn
broilers, large, 28a30; medium, %; hens,
large, 25a26; small, 20a22; Leghorn
hens, 17al8; small. Halls; roosters 13a
IA; Long Island ducks. 21a22.
Meats-Beef, prime, Is; choice, IA;
medium. 12l2a13; lamb. l7a18; veal,
top, Halls; choice. 12a13; pork loins,
hams, 20a21; strip bacon, "a; lard,
loyal.
Live stock-Hogs. heavy. 650a7. 90;
light and medium, IT'S; pigs, 7.00a7.75;
roughs. 3.50a5.0O: calves, 5.00a7. so;
Spring lambs. 5.00a7.50.
tS-WatermelonS, 35a90; canta-
loupes, North Carolina, 50a2.O0; Cali
fornia, 800; oranges, 5.o0a6.oo; lemons.
$50; lines. per 100. LIS; honeydews.
1.5Oa2.00; apples, per bushel, 75a1.50;
box stock, 2.25a2 so; huckleberries, 800
a400; pineapples. 3.50a4.00: grapefruit,
Porto Rico. 4.00a4.50; blackberries, $50;
Persian melons. ATS.
egetables-Potatoes per barrel, 400;
sweets. per bushel. 1.50; string beans,
GOAL 90; limas, 2.50a2.75; eggplant,
2.00a2.25: celery, small crates, 100;
large crates, 2.00a2.50; cabbage, 35a40;
spinach. New Zealand, so; kale, 25a35:
beets, per 100 punches, 200: carrots, per
100 punches. 200; lettuce, Iceberg, $50
a600: tomatoes, 2-peck baskets, 75a
100; peppers. 50a75: squash, as; onions,
California, 50-pound sacks, $50; East
ern Shore, bushel baskets, rs.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
BANK OF UNITED STATES
PAYMENT WILL BE MADE
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. July 24-The first
payment to depositors of the closed
Bank of United States will be made
by the State Banking Department.
custodian CT the institution since its
failure last December. some time be-
fore September Is. it was learned
today The payment will be 30 or IS
per cent of the deposits, it is said
and other payments will be made as
often as liquidation of the banks as
sets permit Several years may be
required to complete the liquidation.
It is said that more than one-fourth
of the banks 100000 depositors have
borrowed money on their deposits I'M
der the plan of the Clearing House
Association. and the shares in the first
payment of these depositorS will be
devoted to covering their borrowings.
The ultimate returns to depositors
will depend upon the resources realized
by liquidation. 1t has been denied
however, that the 80 or 35 per cent
quoted as the first payment will
constitute all TIE return to the de-
posters.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24

Northern Pacific.
Little change is looked for in the af-
fairs OF the Northern Pacific Railway at
least as regards the immediate future.
According to Charles Donnelly, presi-
dent of the road, about the same amount
of freight is expected to be handled as
was handled year ago. In this con-
nection. Mr.. Donnelly placed the roads
gross receipts for the past month at
about II per cent less than in the same
month last year and nat operating in
come at about 81 per cent Of the June,
1880. figure.
Steel Company Earnings.
Despite an increase of 2 per cent
credited to the United States Steel
Corporation, further downturn is re-
ported in steel operations. Earnings of
leading steel companies are likely to
show little improvement in the third
quarter. Iron Age experts say present
operating schedules will prevail during
August reversing earlier predictions of
an August increase.
The dividend meetings Of the United
States Steel Corporation and the Beth
Them Steel Co., scheduled for next
week, are looked for with especial in
terest. A lowering in the present rate
prise, even though some hold that pres
ent rates might possibly be maintained
Canadian Cellophane Plant.
C-llophane, which up to now has been
imported into Canada in large quanti-
ties, is going to be manufactured at
Three Rivers, Quebec, by Canadian In
dustries, Ltd, affiliated with the du Pont
interests. Arthur P Purvis, president
and general manager of the company
estimates the cost of the plant at ST.
100000 and expects that manufacturing
will be in full swing early next year
About go men are expected to be en-
ployed at the start.
Britain'S Gold Stocks.
Although Great Britain's stock of gold
is still more than adequate for her needs.
the constant stream from the Bank of
England across the channel is begin
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
NEW SECURITIES
NEW YORK, July "a (4Y.-New

NEW YORK, July "a (Pl.-New Sc
curities offered today include:
Commonwealth Edison Co.. 100000. 900
3ie per cent gold notes, due July 30,
1882, priced at 99.83 and interest,
yielding 33s per cent by Halsey, Stuart
e. Co.
Gary Electric & Gas Co., SS,000:000
first-lien collateral 5 per cent bonds.
due July /. 1884. priced at a8 and
interest to yield about SIS per cent,
by Halsey. Stuart &, Co.
State of South Carolina, $4,000 900
3l2 per cent highway notes, 'ue July
Is, 1882. priced to yield 3 r~r cent,
by syndicate headed by Halsey Stuart
& Co.
Pacific Power & Light Co., 100000
first mortgage and prior lien 5 per
cent bonds, due 1855. priced at 9812
and interest. to yield Sill per cent. by
a syndicate headed by w. G. Langley
& Co.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
CURB ISSUES DRIFT
TO LOWER LEVELS
Utilities and Oils Feature
Downward Trend-Spe-
ciaIties Off.
BY JOHN A. CRONE.

Special Dispatch to The Star.
NEW YORK, July 24.-Dealings on
the Curb Exchange today moved at
slightly quickened pace around midday,
after a slow opening, but prices con-
tinued their drift toward lower levels.
Electric Bond & Share was down a
small fraction, and so was Cities Serv-
ice. American Gas & Electric lost more
than 2 points Associated Gas a. Elec-
trio A slipped a point on small turn
over
The feature of the second hours
trading was the weakness OF Standard
Oil of Indiana, whose directors are
scheduled to meet for dividend action
on August 8. Chicago advices were that
market circles there could offer no ex-
PLANTATION for the weakness OF the stock.
vet considerable selling emanated from
that center The company has had
serious price competition in most OF Its
territory this year and has consistently
met such reductions by new cuts.
Public Service of Northern Illinois,
one of the less active higher-priced
utilities opened down 1894 points. but
later regained about half OF its initial
decline. insult Utility second preferred
lost 5 points. and Swiss American
Electric preferred was off points by
midday.
The weakness of Standard Oil of
Indiana spread to other sections OF the
petroleum division. Vacuum OH quickly
Knocked of a point. Eureka Pipe Line
sheared off Al points There was
pressure on some of the pipe manu-
facturers, such as A. o. Smith which
broke points to new low level for
the year. Humble Oil opened a point
lower.
Goldman Sachs Trading Corporation
was a feature Of the miscellaneous
trusts on its fractional gain, which fol-
lowed publication of its assets value as
of June 80. This was $12.94 share
against $l2.40 a share on December 81
last and $30.16 a share June 30 1880.
Agfa Ansco which is German in name
only. as the present company Is domi-
mated by American interests, sold today
for the first time in nearly two weeks.
1t opened off pa points. European Elec-
trio and North European Oil were soft.
Brazilian Traction, Utilities Power 81
Light common, Roam Antelope and
Swift International were inclined to
heaviness from the start though Ford
Motor Ltd. opened higher. Woolworth
Ltd. common. one of the most active
of foreign shares, again was in supply.
Great Atlantic & Pacific Tea, with
q drop of 3 points, was the widest
mover in the chain store group and
Pepperell Manufacturing, with a loss
of 15s points occupied a similar posi-
ton in the textiles. Soldering Rubber
eased point despite the fact that June
profits were larger than those Of May
and July net was said to be running
ahead of any month this year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
ARUNDEL CORPORATION.

BALTIMORE, July "a Especially =
Net profit of the Arundel Corporation
in June totaled s255.913.58. This COM
pares with $345,774 in the same month
last year, a decrease OF S89, 800.
NET nrofit was $1,127,020, compared
with Sl.I97,513 in the corresponding
period a year ago, a decrease of $40, 492.
Dividend of the corporation in June
was earned more than twice. During
the six months period ended June 80
earnings were over 100000 in excess
of dividend requirements.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
Grain Market

BY the Associated Press.
CHICAGO. July 24.-Suffering from
a striking curtailment of speculative
demand, wheat went steadily downward
today Pit transactions amounted to
less than half the volume of a week
ago. Export business was also slack.
with Argentina and Australia capturing
the bulk and North America doing
little.
Wheat closed unsettled. 12-1 cent
lower, corn unchanged. Ito IA of; oats
showing a5-7s decline, and provisions
lnchan need To & cents setback
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24

lntefnatlonaI problems CANNOT be expected
to achieve success overnight. Moreover,
final decision reached Immediately would
be viewed most likely with suspicion.
On the other hand an agreement
which Is reached after much arguing, de-
batting, diSagreeing and even a temporary
breakup, is bound to inspire a great deal
Of confidence.
Such was the situation at the time OF
the Dawes plan and the Young plan, and
history Is likely to repeat itself at the pres
ent time, when methods are being discussed
to render financial aid to Germany.
The conference has, at least, laid the
foundation for such assistance.
Firmness in General Motors.
Firmness in the securities of General
Motors is attributable to the relatively sat-
isfactory earnings for the second quarter
of the current year, as compared with the
same period in 1890. Exclusive of non-op-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
Markets at a Glance

NEW YORK. July "a (PD.-Stocks-
Heavy; U. S. Steel says on dividend
rumors Bonds-Weak: rails and for
e'gn weak Curb-Heavy: Standard Oil
Of Indiana weak Foreign exchanges
Steady: sterling strong. Cotton-Lower;
favorable CROP advices. Sugar-Steady:
firm spot market. Coffee-Higher;
steady: Brazilian markets.
CHICAGO. July "a GP).-Wheat-
Easy: weak cables and favorable
weather Corn-Easy: better weather
and large Argentine exports. Cattle
Irregular. Hogs-Steady to higher.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
DU POINT NET DECLINES
FOR FIRST HALF-YEAR
BY the Associated Press.

NEW YORK, July 24.-The semi
annual statement of E. I. du Pont d
Nemours & Co. showed net income OF
$27,610,394 for the first half Of this
year, compared with $32,951 ,314 for tn
comparative period of 1880.
Beducting debenture dividends Their
was $24,624, 404, or $2.23 q share, avail
able for the common stock, or 23 cent
a share in excess of dividend require
ments. These earnings included divi-
dends from du Points General Motors
investment amounting to $i.35 q share
on the du Pont common. In the first
half of 1880 total earnings were, s2.84
a share, Of which the General Motors
income contributed $1.70.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
METAL MARKET.

NEW YORK. July "a PD.-Copper
quiet; e'ectrolytic. spot and future.
7si-8 Iron quiet: unchanged. Tin
easy; spot and nearby, PALS; future,
2437. Lead steady; spot. New York,
4.40; East St. Louis, 4.22. Zinc steady;
East st. Louis. spot, $50; future, 3.95.
Anthony, 6.75.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-24
Bankers Acceptances.

NEW YORK, July "a (P1.-The total
volume Of bankers acceptances out
standing on June 80 was 1868 900, 900.
decrease Of $44,142,413 from the end
of May, but s63,54l.765 above year
ago. the American Acceptance Council
reports.