davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14

generally than anything else that can
be done by the coming Congress.
It is estimated that the Interstate
Commerce Commission will demand
about s350o0O,O00 from the railroads
under the terms of the recapture clause.
Steel Corporations Outlook.
On the basis of information thus far
available, steel corporations are not
likely to make what would be regarded
as satisfactory showing. Neverthe-
less, this need not necessarily affect ad-
versely shares of leading enterprises.
A favorable decision by the Inter-
state Commerce Commission should
help the carriers appreciably, and in
asmuch as the railroads are the largest
consumers of steel, the outlook for
what enthusiastically. Furthermore, pur-
chases by the railroads should stimulate
buying of steel products generally.
The time has come when railroad
wages must be reduced, says Fairfax
Harrison, president Of the Southern
Railway Co.
Railroad labor should make the same
contribution as the officers Of the road
have done, continues Mr.. Harrison. He
adds that II organized labor would &C
cept a reduction in wages equivalent to
that taken by the off-ers, the road
would be very much better off than 1t
is today, although 1t would still be in
an uncomfortable position.
With United States Government
bonds selling to yield 312 per cent and
slightly in excess of this figure, ~and
with the rediscount rate at 2i2 per cent,
an increase in the rate of interest paid
by banking institutions is likely to be
authorized by the clearing house in the
not distant future.
At the present time checking &C
counts do not earn more than one-half
of l per cent 1t is also likely that the
prevailing low rates have played an
important part in the withdrawal of
funds for foreign account, SO that a
higher rate might tend to keep funds,
now moving to foreign centers, in New
York.
The flight from the gold standard
continues. Three more countries have
followed the example set by Great
Britain last month. The new members
of the paper standard include Finland,
Northern Rhodesia and Southern Rho
deSia.
The effect Of this move on American
trade and industry is not expected to
b, very pronounced. Americas COM
merce with Finland approXimatcs 500
100000 a year. while trade with the
Rhodesias is negligible, their principal
dealings being with Great Britain. How
ever, copper companies operating in
Rhodesia should benefit.
(Copyright, 1881. by the North American
Newspaper Alliance, Incl
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
BY CHARLES F. SPEARE.
Special Dispatch to The star.

optCldl DlSpdtCH " Ahe OheA'
NEW YORK, October 1.-Two ele-
ments have entered into the buoyancy
In the stocks Of New York bank and
trust companies and in those OF other
cities where Institutional shares have a
broad market. These are the relief ex-
tended to the general banking situation
through the National Credit Corpo-
ration and the prospect of increasing
interest rates on deposits to the extent
that this may draw back into the banks
funds of institutions and individuals
and permit of the enlargement Of their
earning assets.
The advance in bank stocks during
the past week has amounted to about
IS per cent and is one Of the sharpeSt
in months. 1t started from a level
where the shares of New York inStitu-
tionS showed a depreciation in market
values from 1929 of nearly 85 per cent,
representing one of the heaviest shrink
ages that had taken place in any group
of securities. The action Of such stocks
has brought into question the Soundness
OF the policy that prevailed few years
ago of splitting up bank stocks into
smaller units in order to popularfze
them with a public which has shown
period of depression. Many believe
that had bank stocks been owned in
large blocks as formerly and by their
original wealthy clientele there would
not have been the slaughter in prices
that has taken place in them.
Few Decreases in Dividends.
1t is signifcant that in spite of the
depreciation in the securities held by
New York banks and trust companies
and of reduction in normal earnings
during the period when interest rates
had been at the lowest in this gener-
alton, there should have been so few
decreases in the dividends on bank
stocks. With two or three exceptions
all are paying as much as when their
earnings were at the top. The unusual
condition has prevailed of returns of 10
per cent and over on the shares Of the
two largest banks in the United States
Furthermore, recent statements indicate
that they have not only been covering
their dividend requirements. but have
been adding to their undivided profits
Recently the deposits of the local
banks have experienced a~sharp recess
sion. The statement yesterday of the
Federal Reserve Board of the condition
of member institutions on September 7
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
NEW YORK BANK AND TRUST
STOCKS SCORE RAPID GAINS
Rise in Securities Attributed to Hoover
Credit Aid Plan and Prospect of
Higher Interest Rates.
moved q decline of $3.50 .ooo noo in

showed q decline Of $3.50 600, 900 in
time and demand deposits compared
with the week previous. It Is expected
that gradually these deposits will be
returned, now that the public nervous
ness over banks in general has been
diSpelled. Some Of the losses of the
commercial banks have been reflected
IN the gains Of savings institutions.
Following each reduction in the rate
Of rediscount of the New York Federal
Reserve Bank during the past year
there has been an equalization in de-
poslt rates on the part of members of
the New York Clearing House Associa-
ton. The last one, which was put into
effect in the Spring, brought the rates
down so low that the country bank re-
ceiVed hardly any net from its CORE
spondent in New York. The same was
true Of money loaned on call where the
official rate~was 112 per cent, and fire.
ouently the outside rate. / per cent,
from which commission is generally
subtracted by the leading institution.
since the Federal Reserve raised its re-
discount to 21a per cent. and there has
been an increase in the rate on bills.
the latest appearing yesterday, call
money has not shown much change.
The most recent statement of brokers'
loans indicated a total of loans by
Others" of nominal proportions.
Concessions to Borrower.
During the period of extreme low
rates on bank deposits there was a
moderate concession to the borrower
say. from the normal rate of per cent
to per cent-and an adjustment in
some sections of the country from a
6 per cent to per cent basis on real
estate mortgages. There was. however,
never a full revision Of the primary
borrowing cost to the extremely low
rates of interest that have obtained.
Consequently. increases in rates on de-
posts, following that on Federal Re-
serve rediscount rates, are not ex-
pected to penalize the borrower for
some time to come. What the banks
hope it will accomplish is to bring a
return of deposits of corporations and
individuals to them from the market
for short-term Government and mu-
nicipal securities that were also pro-
viding the lowest rates of return on
record. but. even so, gave better net
yield to the holder than he could OBJ
tain on his demand deposits.
(Copyright, 1917
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
URGES 60-DAY BAN
ON SHORT SELLING
Boston Man Scores Bear Methods
and Believes Move Would
Restore Confidence.
Special Dispatch to The Star.

Special Dispatch to The Star.
BOSTON. october 14-Urging that
the New York Stock Exchange be COM
PEELED to put a ban on all short selling
for so days, A. S. Brown, jr., president
Of a concern which makes a feature of
construction reports, has sent the fol-
lowing Geographic plea to President
Hoover:
Business and confidence go hand in
hand. Business cannot go ahead with
out confidence Confidence is being
throttled and has been throttled for
more than year by professional short
sellers, who not only will not allow
securities to return to prices represent
ing their true worth. but every little
while depeSs them farther and cause
more necessitous selling. Many believe
that a 60-day moratorium on short
selling with some restrictions there
after would do more than anything
else to restore confidence and stimuli
late business. A two-day ban on short
selling worked well. Why not ask the
Board Of Governors Of the New York
Stock Exchange to ban short selling
entirely for so days? If they will not
comply with your request 1t will be be-
cause they know the quick recovery
that would follow would be conclusive
evidence to the public that short SELL
ing Is most injurious to business in
times of depression and appropriate
legislation would follow"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
VIRGINIA TOBACCO
OUTPUT FORECAST
Pounds Is Esti
mated Yield for the
, Present Year.
BY the Associated Press.

RICHMOND, Va, october 14.-Vir-
ginia tobacco production In 1881 was
forecast today at 114,112,000 pounds
by the Federal-State Crop Reporting
Service.
This forecast is slightly below the
September / estimate of 117,8l5,0 600
pounds, but still above last years pro-
duction of Ill, 776, 900 pounds, the re-
port, prepared by Henry M. Taylor,
State agricultural statistician, explains.
Average production for the past five
years was 121, $4,000 pounds.
SO Per Cent Harvested.
Growers reported SO per cent of the
crop harvested on october l., due to
favorable weather conditions.
The forecast for f1ue-cured tobacco
declined, as the leaf is thin and lighter
than expected. The yield per acre is
greater this year, but the forecast OF
IS, 10000 pounds is about IA per cent
below last year. Flue-cured markets
during the first three days sold 9l6,596
pounds at an average price of $751; per
100 pounds. Quality Is estimated 10
per cent good, 80 per cent medium and
So per cent common.
Fire-cured tobacco is forecast at
"a, $4,000 pounds. practically the same
as the September estimate, but con-
siderably above last years production
of 23.330,0 900 pounds.
The hurley crop improved slightly
during September, but the yield per
acre is not expected to be as heavy as
last year. Acreage is larger, so the fore
cast of 100000 pounds Is slightly
above last years production Of 9,750,0 900
pounds.
Good Maturity.
Sun-cured tobacco matured in good
condition and the season was quite IA
vorable for curing. Yield Is heavier
than last year, being forecast at 49,
900 pounds, as against 3,3S0,000 last
year.
Weather conditions throughout the
United States were generally favorable
for the development of late tobacco and
unusually favorable for harvesting and
curing.
Flue-cured production of 694. "a 900
pounds is 10 per cent less than 1880
production. Burley prospects improved
for the entire country during Septem-
Der and a production Of 467773,000
pounds is forecast, about "a per cent
above last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
COMPANY FINANCING
RULES ARE ADOPTED
Chicago Curb Exchange Requires
Full Reports From Corporations
Before Listing Stocks.
BY the Associated press

by the Associated Press.
CHICAGO, October 14.-Measures to
facilitate company financing considered
10 be OF a promotional nature but at
the same time protecting the interest of
investors, have been adopted by the
Chicago Curb Exchange.
1t was announced today that when a
corporation which has given options on
blocks OF its treasury stock makes APP
pllcatlon for listing on the Chicago
Curb Exchange the Listing Committee
will require that certified copies of the
option agreement and all assignments
OF such agreement, together with list
OF all dealers who will participate in
the sale of stock, and copies of all cir
culars and sales material to be used in
the sale Of the stock. shall be filed with
the committee. Before the stock may
be listed and offered for sale these ar
rangementS must be found unobjection-
able by the Listing Committee.
Under present conditions in the Sc
clirities markets an underwriting of a
new stock issue is practically unknown"
said Clarence G. Troup. president of
the Curb Exchange. He added:
The Curb Exchange has received
during the last year large number of
applications in connection with which
investment bankers have secured OPP
lions for the purchase of treasury stock
and have proposed to distribute this
stock against these options. Our List
ing Committee has felt that this method
of distribution opens up many objec-
tionable possibilities.
The additional safeguards which the
committee has now thrown around such
applications will now, however, make it
possible for the Curb Exchange here to
accept listing applications from corpo-
n1PTlt0rlnIlC
which have been unable to effect fnanc-
ing arrangements involving an under
writing by an investment banking
institution"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
CRUDE OIL PRODUCTION
GAINS 2O,O22 BARRELS
BY the Associated Press.

BY the Associated Press.
TULSA, Okla, October 14.-Small
gains throughout the United States,
with the exception of Oklahoma, ac-
counted for an increase of 2O.O22 bar
rels In the daily average crude oil pro-
duction for the week ending october
10. the Oil and Gas Journal estimates,
bringing the total output to 2,155,514
barrels daily.
Oklahoma's production was 251,135
barrels. as compared with 273.135 bar
rels for the previous week.
Total midcontinent production was
1,232,797 barrels daily as compared
with l,230,706 barrels. East Texas pro-
duction was 403, 1874 barrels, as COM
pared with 381 1896 barrels. Kansas
output was 1074l5 barrels daily, in
contrast to 107,210 barrels the previous
week.
Eastern production was up 5000 bar
rels daily to 10000 barrels.
The Rocky Mountain pools flowed
92,427 barrels daily, as compared with
90,984 barrels. Califorpias production
was up l2,250 barrels daily to a daily
total of 505,00 barrels.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
GERMAN INDUSTRY
CONTINUES QUIET
Business Men Are Trying to
! Solve Problem of Pro-
duction Costs.

Recent developments, especially In
connection with the depreciation OF the
bound sterling, have had an unfavor-
able repercussion in Germany, and do
mestic Developments. including the con-
Gnued reduction of working capital and
unsettled political conditions. have also
been adverse the Department OF Com
0nerce has announced
German business is strenuously en-
deavoring to reduce production costs,
but definite improvement is impossible
Mithout a resumption of more normal
international credit operations, accord
ing to a Berlin cablegram to the de-
partment.
Situation in France.
: The department has also been adj
Pissed that G gradual recession continues
In French industries, but the financial
position, except for the difficulties of
several banks, has shown remarkable
strength. A cable said more favorable
weather since September l has par
TALLY Offset the adverse effect on agri-
culture of the extreme damp Summer.
Spain has experienced relatively little
effect from recent financial develop
ments, according to a department cable,
with business continuing on low level.
Foreign trade has been unusually slack.
commenting
and uufavorable factors i'll last week
developments. the department said:
Egyptian foreign trade has suffered
from recent exchange uncertainties,
and domestic business has been cur
tailed as a result of the sharp drop in
tourist traffic. GreeE importers have
been placed in a rather difficult Situa-
ton, owing to the extension of foreign
exchange control regulations. 1nabil-
fly of the Polish government to reduce
expenditures to keep pace with the
decline in revenues Is causing con-
siderable deficit; foreign trade has de-
clined sharply. with imports particularly
restricted. Seasonal improvement Is
IN evidence in Canada, although buying
eemains cautious.
japanese Trade Depressed.
"The principal japanese industries
remain depressed, with future restric-
tions of production likely in cotton
textiles and keener competition ex-
pected in iron and steel. as result of
the decline in the pound sterling and
port trade has failed to respond as ex-
pected to the depreciation of the rupee.
General conditions in French Indo-
China show some gain, although credit
conditions are unsettled and the rice
market is weaker. Slightly firmer
copra and abaca prices nave Strength
ened optimism in the Philippines, al
though actual conditions are I'M
changed Exchange developments have
caused somewhat more active trading
In Australia and a tightening of the
unemployment problem.
Import trading and distribution re-
main depressed in Argentina, but ex-
ports of corn have been extremely &C
tive with grain prices rising. Mexican
business has not responded appreciably
to the improvement in exchange: petro-
leum production and gold and silver
mining continue to decline"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
Newest Fall Suits
s s:;%'s $3.50

Worsteds right up front this They're fashion.
able fabric be, and they're durable than
other fabrics be. Every of these suits fashion.
able durable wored lined with ustrously rich Ceanese.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
Import Rates Increased.

The Italian government has increased
the rates OF import duty on rice, &C
cording to a radiogram received by the
Commerce Department from CONNER
cial Attache Mowatt NJ. Mitchell at
Rome. The new duties, in paper lire
per 100 kilos gross. are as follows told
rate in parentheses) Rice, in the husk,
Al Cd; Partly husked. so 15.50) !:
cleaned, so 1880, and ricve meal, so
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
RICHMOND BANK HEAD
ON CREDIT AID BOARD
Special Dispatch to The Star.

Special Dispatch to The Star.
RICHMOND, Va, october John
M. Miller, jr., president Of the First
and MERCHANTS National Bank OF
Richmond, has been appointed a mem
Der of the board of directors of the Ma
tional Credit Association. the 100000
600 corporation planned to release
frozen assets of the Nations banks.
Mr.. Miller, recognized as one Of the
leading bankers of the South. will rep
resent the fifth Federal Reserve dis
trict, Of which Richmond is the center
when the board meets Saturday at the
New York Federal Reserve Bank to in
augurate the work Of organizing the
! entire country.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
SEVEN INDUSTRIES HELD
RELATIVELY WELL OFF

Seven industries, states the United
Business Service of Boston In its cur
rent report, are in a relatively good
position at the present time.
These are as follows: Specially bakers
distributors of dairy products, package
food companies. cigarette manufae-
turers, chain stores, domestic refriger-
ator manufacturers, and utilities.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14

P-B is Nationally Known for
high quality in MEMS AND
BOYS CLOTHING, HAB.
ERDASHERY, HATS AND
SHOES.
Prices throughout our entire
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
Blue Serge Suits
With Extra Trousers
s s.is''s S $3.50

call your attention facts First that these really
fine blue serges second that suit has pairs of
trousers Single and double breasted models, all hand.
somely lined with Celanese, the fabric that looks like silk
and longer Sizes 35 48reguar Short long and
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14

stock are now radically re.
duced. Quick clearance is in
order. New Fall merchan.
disc just received or arriving
daily is included.
All sales are final; all trans.
actions for cash only.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-14
Smart Fall Topcoats
s s:;:::, $3.50

It's topcoat time, gentlemen and here the topcoats-
the types and textures for FALL 1881 Drop in and slip
into smart tweed Select from shade
that is being by we-dressed All Celanese lined
for beauty and durability.
The Washington times., 1931-07-24
Marsh Hen, Canary Figure
In Hot Sumner NeuUs

SAVANNAH, July 24.-Num.
Der Little Billy Young, 9 years
old, was en- route to Savannah
Beach, Tybee Island. with Mother
and Father Young and some Of
the younger children. Master
Billy sat in the front seat of the
automobile and Papa w. N.
Young drove the car. Pretty good
speed was being made when
crash! bang! smash! the wind
shield of the car is broken by the
immense force Of some flying
object.
Master Billy is so badly cut
about the face and head that he
had to be rushed to the physician
at Fort Screven, an Army post OF
Tybee Island, for treatment. What
caused all this? A swift flying
marsh hen had come in contact
with the glass windshield and had
smashed it into bits. The bird
paid for his adventure with its
life,
The Washington times., 1931-07-24
RENO NO MINT
FOR LAWYERS

RENO, New, July "a 0.N.SD.
Reno today was suffering from
a new rush" According to City
Attorney lie Roy F. Pike, more
divorce lawyers are coming than
clients"
"f the movement keeps up,"
he added, "sOme of us are
either going to have to open a
gambling casino or q soft
drink stand"
Lawyers from other States must
establish residence. The State Su.
preme Court is considering a
rule which would lift residence
requirements to six months.
There are 100 divorces granted a
week, less than a case a week
for. each attorney practicing, and
the influx of attorneys mas wit
messed a steady drop in fees.
The Washington times., 1931-07-24
ASK SAINTHOOD
FOR FOUNDER
BY KENNETH CLARK

ROME, July "a U.SO. "A
party of American pilgrims yester'
day presented Pope Piux XI with
petition asking for the beatifica,
ton Of Mother Elizabeth Seton,
which action would give the
United States it's first native-born
saint.
The petition seeking sainthood
for the woman who founded the
order of the Sisters of Charity
in the United States bore the
signatures of 100000 Americans.
It was given His Holiness by
Father Joseph B Code, Of st.
Ambrose College, Davenport, Ia.
Father Code, who has written a
biography of Mother Seton,
headed a delegation of American
priests, nuns and Catholic lay
men who came to Rome expressly
for that purpose.
The Washington times., 1931-07-24

There are reasons and reasons
why eggs should be eaten, from
explanations of their intricate
construction; and. of course, their
vitamin and mineral content must
be considered. But it takes a
French chef, says Prof. j. c. Hut
tar, of the New York State Col
lege of Agriculture, to give a real
appreciation of the egg and his"
qualities.
The chef says:
"All cookery rests on an egg.
The egg is the Atlas that sup
ports the world of gaStrOnOmy,
the chef is the slave Of the egg.
What is the masterpiece Of
French cookery, the dish that
outlines all other dishes, the
thing that is found on his
majesty'S table no less than
upon the table Of the bOur-
geo. the thing that Is as
Frel" y as the Frenchman, and
which expresses the spirit Of
The Washington times., 1931-07-24
All Cookery Rests on Egg
Says College Agrarian
q no other food

our people as no other FOOD
can express IL? The omelette.
Gould You make an Omelette
without breaking eggs? Then
cast your minds eye over this
extraordinary Monsieur Egg and
and all his antics and ev0lu-
tiOns. Now he permits himself
to be boiled plain. and even
like that, without frill. he Is
excellent. Now he consents to
appear in all ways from
poacheG. to perdu, now he Is the
soul of q vOl-au.vent, now Of q
sauce; not o pie crust fit to
eat but stands by virtue Of
my lord the egg, and should
all the hens in the world com.
NIT suicide tomorrow, every
chef in France worthy Of the
name would fall on his spit,
for fish is but a course in q
dinner, whereas the egg Is the
cement that holds all the
castles of cookery together"
The Washington times., 1931-07-24

Number 2-Mrs. @. c. Hendrix
missed the cheerio chirp of her
pet canary. She wondered why
Sonny Boy" was not singing on
such a bright summer morning,
She soon found out. Curled up
in Sonny Boys" cage she found
a rat snake" And in his mid.
section was q bulge-which was
Sonny Boy"
The snake had crawled upon
the porch where the cage hung
and then had crawled into the
cage and devoured the bird.
The Washington times., 1931-07-24
Woman Prosecutor
ReSi0nS Her Post

NEW YORK, July "a U.SJ.
Ellamarye Failor, the first woman
ever to act as a criminal prosecu-
tor in the United States Attorneys
office here, has resigned to enter
private practice, after six years
service.