davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-04-07
REQ S1,000,000
DEAL CLOSED

One of the largest orders for
automotive equipment to be
placed by one firm since the
boom days of the industry was
closed today by the REQ Motor
Company, of Lansing, Mich. 1t
involves the sale of hundreds Of
Reo-Royale passenger car chassis
to the National Casket Company,
which has branch offices and
factories in 80 cities of the
United States.
The contract just signed rep
resents more than $1.000,000 of
such equipment, to be placed
with morticians and other estab-
lishments throughout the coun-
try.
Delivery has already started
on the first so units, it was
stated by E. G.. Poxson, general
sales manager of REQ.
Hearse, ambulance and other
special bodies for the REQ
chassis will be built by the Hen
ney Motor Company, of Free
port, ILL.,, according to H. L.
Stein. sales manager of the Ma
tional Casket Company, who con-
firmed reports of the large deal
with REQ. Mr.. Stein was in
Lansing today completing details
of the contract and arranging
for further immediate shipments.
The Washington times., 1931-04-07
MILLER SCORES
BREAD PRICE

The Magazine of Wall Street
quotes a Minneapolis miller'E
comments on how to sell more
wheat, as follows:
"The Northwestern Miller hit
it right when it said that the
trouble with wheat prices is
not too much wheat but too
little bread. The world is
going more or less hungry, and
right here in the United States
there are underfed people be-
cause scent wheat is making
1O-cent lOaves.
Fed to Cattle
Farmers are feeding cheap
wheat to cattle when millions
Of people can't afford enough
high-priced bread. A universal
scent loaf would solve the prob
lem of surplus wheat and de-
ficient food. There is no better
illustration of the destructive
ness of faulty distribution than
the loaf of bread.
The consumer pays 5 cents
for bread and another nickel
for celOph ane, advertising.
wasteful physical distribution,
excessive dealers profits, high
wages for low work, etc. Mean
time, the producer Of the essen
tial part of the bread, the
wheat, produces it at a loss.
81 am a competent critic. for
it is notorious that the miller'S
profit is negligible and that
the price of flour follows the
price Of wheat.
Has Many Frills
Neither am 1 indicting bak-
ers or merchants - bread Is
simply an outstanding illustra-
ton of the failure of business
to solve the distribution prob
lem.
"But it looks to me as if we
were putting too much expense
into the frame Of the merchan-
dising picture, when people
cry for bread and we give them
nOn-edible frillS."
The Washington times., 1931-04-07
PLATINUM HARD
To REPLACE

Platinum and it's allied metals
osmium, iridium, rhodium, palla-
dunn and ruthenium-are the
most costly of the better-known
metals and combine properties
that make them unique among the
elements, says the United States
Bureau of Mines, Department OF
Commerce. Osmium, for in
stance, is the heaviest known ma
terial.
For a number of isolated uses
substitutes have been found which
are cheaper and quite as Satisfac-
tory; but none will replace platl-
mum in many of its varied uses,
and there is a large and growing
demand for purposes for which no
economical substitutes are known.
The platinum group of metals
are all grayiSh white, luStrous
metals, highly resistant to corro-
sion, and they melt at a high
temperature
The uses Of platinum and its
allied metals are many and varied,
state Paul NJ. Tyler and r. M.
Santmyers in a report just pub
lished by the Bureau of Mines.
Platinum is by far the most
widely used member of the group.
Either alone or alloyed with
others of the group, according to
the requirements for which it is to
be used, it enters into numerous
industries.
Next to platinum, palladium is
the most extensively used. Iridium
is third as regards quantity con
sumed, but on account OF its ire
quent use for hardening platinum
it is second in Importance.
The largest use of platinum is
for the manufacture of jewelry
The metal is also employed exten
sively in the electrical and chem
ical industries, in destistry, and
for variety of miscellaneous pur'
poses. In the early days it was
used in Russia for coinage, and
subsequently from time to time it
has been proposed by bimetalllsts
as standard of value.
The Washington times., 1931-04-07
PRICE Of CRUDE
DROPS AGAIN

The average price Of crude
petroleum at 10 representative
producing fields was lower last
week at 87.4 cents barrel, COM
pared with 9OS cents the previous
week. The average for the cor
responding period last year was
$1.489 a barrel, according to the
Oil, Paint and Drug Reporter.
Gasoline at the refineries was
lower last week at 49375 cents a
gallon at four principal refining
centers, compared with S cents a
gallon the previous week and 7.156
cents year ago.
Service station prices of gaso-
line at Representative cities were
unchanged last week from the pre-
ceding week at 1905 cents a gal
long. The average a year ago
was 20.10 cents a gallon.
Domestic crude oil production
from January / to April 4 was
estimated by the above authority
at 20O,280, 900 barrels, compared
with 244,552,000 barrels in the
corresponding period of 1880,
The Washington times., 1931-04-07
NEW DIRECTORS
FOR FOX FILM

NEW YORK, April 6 QN.s)-
Completion Of the proposed $75,,
100000 refinancing program Of
the Fox Film Corporation will be
effected April IS, when stockhold-
ers will vote on a recommendation
to add several outstanding Amer
ican financiers to the board Of di-
rectorS. Announcement of the ad-
ditional directors plan was made
today by Harley L. Clarke, presi-
dent of the company.
He said the following had
agreed to join the board:
Albert H. Wiggin, New York
banker; Cornelius Vanderbilt, New
York capitalist; Philip Stockton,
Boston banker; Philip r. Clarke,
Chicago bank head; Frank o.
Watts, st. Louis banker, and
George M. Moffett, president of a
refining company.
Those of the present board
slated to be reelected are: Harley
L. Clarke, Mathew C. Brush, C. w.
Higley, Winfield Sheehan and
William Fox.
Directors whose names were not
listed for reelection were o. L.
Gubelman, H. E. Higgins and S. C.
MunoZ.
Details of the new financing
plan, which is planned to retire
$55, 5,O0O,000 of one-year notes and
take of other obligations, will be
made public shortly.
The Washington times., 1931-04-07
Calf. Standard Oil
Men on 5-Ddy Week

SAN FRANCISCO, April 7.
Standard Oil Company of Cali
fornia, effective April l, placed
its production department includ-
ing field and pipe line operations,
on a five-day week basis, follow
ing the manufacturing depart
ment, which has been operating
under the five-day week plan for
several weeks. The executive. sales
and marine department are af-
fected,
The Washington times., 1931-04-07
INCOME SAFETY
IN SICKNESS
ASSURED
Frank F. LoomiS Tells How
CheapIy Insurance May Be
Bought to Cover Accidents
BY FRANK F. LOOMS

Two million persons in the
United States lost an average Of
30 business days each last year
through accidental injury.
While motor vehicle accidents
cause a great number of deaths,
there are many commonplace &C
cidents in home, office, and street
that few people hear about. Sta
tistics show one-fourth of the
fatalities from accidental causes
are from injuries received in the
home such as falling downstairs,
slipping on rugs, highly polished
floors, or in the bathtub.
Vacation Mishaps
And in the outing season, when
people swim, hunt, play golf,
tennis. drowning accidents are
frequent, as are fatalities from
burns, gunshot wounds, explosives,
etc.
One person in every seven
meets with some form of injury
every year. Accidents are in most
cases unavoidable and unexpected,
and yet the Importance of carry
ing accident insurance is never
fully realized until the accident
occurs and cuts off the income,
while regular expenses must be
met and additional expenses of
hospital, surgeons and nurses
fees.
A man with foresight insures
against a loss Of income when dis
abled as result of an accident,
and is able to meet his living ex-
penses, doctors bills and hospital
expenses.
This form of insurance coverage
is not expensive IN comparison
with the great benefits derived.
No man or woman, employed, who
receives a salary from $25 a week
up. can afford to be without accl-
dent insurance protection.
Injury and Sickness
A policy which pays $50 week
indemnity for total disability, $25
or $50 a week for partial dis
ability, and $4,000 for accidental
death, costs $50 year for all ages
up to SO years. There are no
strings attached to the contract
described, and the indemnities
double if the injury occurs to a
passenger in a common carrier.
For an additional yearly cost
of $50, any person who is carry
ing the accident policy outlined
above can purchase an additional
policy which will pay $50 a week,
if totally disabled and confined
to the house on account of ill
ness, and $25 a week while the
insured is unable to work, but
not necessarily confined to the
house, the limit, however, being
So weeks. It provides also opera
ton fees up to 5000, and hospital
benefits of $25 a week for not
more than 20 weeks. No in
demnity is paid for illness less
than IS DAYS,
The Washington times., 1931-04-07
FOOD AND STORE
STOCKS HOLD
LINE BEST
Market Purely Professional
Now, Asserts Haney, With
Lower Prices Still Ahead
BY LEWIS HANEY,

BY LEWIS HANEY,
Director, NetD York UniUerStty'S
Bureau of Business Research
and Former Economist OF
Federal Trade Commission
The decline in stock prices
slowed up last week as the volume
of trading diminished. The mar.
ket closed with a little technical
rally.
At the end, averages appear to
have lost about 1.3 points during
the week. The chief losers were
the utilities which is fair enough,
since they had been the leaders in
the bull manipulations. Ihls
group closed the week about 3
points lower.
Necessity PurveyOrs
The only groups which held
against the general decline were
foods and store stocks. The mo-
tors and steels, however, lost. rela-
lively little ground.
Bonds continued to sag, closing
at a new low for this reactlon
The outlook is for increasing pres
sure on the investment market on
account of Government financing
and the desire of certain corpora
tions to issue bonds.
The only support appears to
come from the banks. In the ao-
sence of any considerable demand
for loans they continue to expand
their investment portfolios.
Selling Pressure Light
The rise in stocks on Saturday
was not very convincing. The
chief factor was obviously short
covering.
The volume of trading was very
low. and the bulk of it was in 10
or IL pool stocks such as Vanad-
ium, United Corporation, Amer1,
can and Foreign Power, 1nterna,
tional Telephone and Auburn and
Case. The most that you can say
is that there was no selling pres,
sure.
It was doubtless aided by a
general feeling that the time has
about come for a technical rally
The market is now a purely
professional affair. OF course, it
is subject to quick fluctuations
Any declining trend is likely to
be irregular.
But it still looks lower to me,
and further dribbIing liquidation
and belated distribution by the
numerous pools are likely to over,
come any brief rallies.
Dead in Summer
I am now inclined to think that
there will not be any important
recovery until we have seen some
thing more like a wave selling
than has yet appeared.
It also seems that the recent
demonstration of lack Of public
interest should mean that some
time this summer we will see a
very narrow and dead market,
one which will be waiting for
definite proofs of business re-
covery.
The Washington times., 1931-04-07
NeW York Shares
Decline for Week

The market value of so repre-
sentative stocks on the New York
Stock Exchange at the close of
the week ended Saturday, April
4, was $19,170,017111, a decrease
of $236,23O,816, or approximately
1.22 per cent under the value of
SIG, ,406. .247,927 at the close of
the preceding week. according to
a compilation by Paul H. Davis
and Company.
This compares with 1885,
470.356 at the close OF the cor.
responding day in 1880.
The Washington times., 1931-04-07
TWO BIC TRADE
PARLEYS DUE
IN MONTH
U. S. Chamber of Commerce
to Meet Late in April, and
International Body in May

Plans IVA wo big business
meetings have been announced
here.
The Chamber of Commerce of
the United States, to meet at
Atlantic City the last week in
April. The International Cham
Der Of Commerce in Washington
the first week in May.
Industrial depression and un-
employment will be the main
theme of both conferences.
Atlantic City Topics
At the Atlantic City conference,
leaders will discuss the effects Of
government competition on bust
ness, taxation, banking and credit
and other questions related to
business fluctuations.
DR.. Wesley Mitchell, of Colum-
bia. University, will analyze the
problem of stabilization. R. r.
Dupree, Cincinnati soap manu-
facturer, will tell how he main
CalnS even employment IAe year
round. L. D. H. Weld, of New
York, will speak on distribution,
and Rome C. Stephenson, presi-
dent of the American Bankers
Association, will discuss stabiliza-
ton.
Hoover to Talk
World business stabilization,
tariffs. the silver problem, etc,
will be discussed at the 1nterna-
tional Chambers meeting. George
Theunis, of Belgium, president of
the chamber, will report.
President Hoover will speak, as
will Owen D. Young. Melvin A.
Traylor. Sir Arthur Balfour, DR..
Albert Pirelli, Aloyse Meyer, Lux
emburg, and Robert Mason, di-
rector general, Credit Lyonnais,
France.
The Washington times., 1931-04-07
UTILITY SPENDS
S30,000,000

Progress in new construction,
extension of service lines, addi.
ton of capital and other assets
through developments and the
advantageous acquisition of prop
erty is reflected in the annual
report of Utilities Power and
Light Corporation and it's con-
trolled companies.
Harley L. Clarke, president OF
the company, in a comprehensive
letter to stockholders accompany
ing the report, refers to expendi
lures of more than 100000, ,000
for new construction during the
past year, increased revenues
from public utility properties in
this country and Great Britain
and points out that the ground
work has been laid for improve
ment this year due to completion
Of new plants and extension of
service areas.
Nonutility properties accounted
for the slight decrease in net in
come reported for the yea~. The
corporation increased it's working
capital more than $2,O00,0OO and
largely increased it's cash and
marketable securities accounts.
The report shows for the year
ended December 81, 1880, gross
revenues of $53,097, 800, as com.
pared with $52,348,697 in 1929
an increase of $748.704. Net
earnings before fixed charges
were $23,247.1O6, comparing with
$23,59 ,845 in 1929. After all de.
ductions, including debenture in
terest, reserves for depreciation
and reserves for income taxes
final net income was $7236, 6,84O,
as against $7,617,657 in 1929.
The Washington times., 1931-04-07
INDUSTRY
HOLDSJOBS

Only four soap manufacturers
out of 49 representing upwards
of 80 per cent of the entire in
dustry production, included in a
survey just finished by the Asso'
citation of American Soap and
Glycerine Producers, decreased the
number of their employees dur
ing 1880. and only two reported
a reduction in wage scales.
The industry as whole, ac-
cording to the report on this
survey made by Roscoe C.. Ed
lund, manager of the association,
maintained normal employment
during this period. Eight COM
panies reported increases in the
total number of employees.
The average volume OF bus1-
ness among these 40 manufac-
turerS remained about the same
as in 1929, IA companies report
ing increases and 8 reporting
decreases, while the remainder
either reported normal business
or did not answer this question.
The Washington times., 1931-04-07
Birmingham Issue
Yields 2.65 Per Cent

M. M. Freeman and Company,
Incorporated, is offering a new
issue of $2,00O,OOO of City of
Birmingham. Ala, 2.95 per cent
tax anticipation certificates of in
debtedneSs.
The certificates are dated April
10. 1881, and mature January 8,
1882, at price to yield 2.65 per
cent. They are legal investment
for savings banks and trust
funds in New York. The as
sessed valuation for 1880 of the
City of Birmingham is reported
as 1921 ,369,850 and the net bond
ed debt. $25,858,541.
The Washington times., 1931-04-07
NORMAN To END
CONFERENCES
IN CAPITAL
Just Exchanging Views With
U. S. Officials; Nothing New
Proposed, Is Formal Word

Montagu Norman, governor Of
the Bank of England, expected to
end his visit here tonight, after
a series of conferences with
American officials.
Secretary of the Treasury Mel
lon entertained at luncheon for
the British financier, with Eugene
Meyer, governor of the Federal
Reserve Board; the British am
bassador, Sir Ronald Lindsay;
George L. Harrison, governor Of
the New York Federal Reserve
Bank, and other high officials
present.
ParIeys Helpful
Officials said that the confer
enceS with Norman would prove
helpful in bringing about a better
mutual understanding of financial
affairs of the two countries. They
expressed the hope American Of
ficials would be able to visit
England and other European
countries to confer with bankers
and that other European bankers
would come to the United States.
The fact that there always has
been mystery placed around the
missions of Norman in the United
States was deplored and officials
said he is here to exchange in
formation and study market con-
ditions and business generally.
Both the United States and
British governments face prob
lens of refunding. England must
refund about 4,O00,000,000 pounds
of its debt, while this govern
ment has refinancing operations
that will run close to $10,000,-
100000 before the end of 1888.
Nothing New, Claim
Less than $500,OOO.0OO of new
money" however, will be required
by the United States. indicating
no upset in the market.
Federal Reserve officials de-
clared emphatically that Norman
had made no proposals that
would require action.
The Washington times., 1931-04-07
National POWer Net
Rises IL Per Cent

Showing an increase Of 4'97
per cent in gross earnings, and
1914 per cent in net income, Ma
tional Electric Power Company
rer--. IS consolidated gross earn
ings for 1880 of $66.951, ,965 .49, as
compared with $63,782, ,569.06 for
1929, or an increase of $3,169'-
396.43.
Net income available for stocks
of National Electric Power Com
pany, after all charges, amounted
to $5,321,29911, as against 81
732,686.31. or an increase OF
S588.612.80.
The Washington times., 1931-04-07
To FAVOR
BANK STOCKS

Robert C. Jones & Co., Inc. in
vestment bankers, with offices in
the Shoreham Building here, an
nounce the opening of a bank
stock trading department.
The firm is a local one, Robert
C. Jones writes in letter to
patrons, and has arranged for
complete facilities to buy and sell
New York bank stocks by long
distance telephone.
An exclusive bank stock trading
department is said to be unique
in this city.
The Washington times., 1931-04-07
Commonwealth Gas
RepOrts Sales Gain

Indicating the rising trend OF
industrial activity in the manu-
featuring centers of the Middle
West, Commonwealth Gas Cor
poration, wholly-owned subsidiary
of Appalachian Gas Corporation,
today reports an increase in cen
sumption of natural gas by its
largest customer of over 81 per
cent.
Consuming for several weeks
past an average of 2,O5O,OOO
cubic feet per day, the customer,
a steel plant, averaged 2,49O, ,0CO
cubic feet per day during the
last week reported, with good
prospects for further sub
stantial increase in load.
The Washington times., 1931-04-07
LEAD ORE RECEIPTS

Receipts of United States lead
ore by U. S. smelters in February
were 35,512 short tons, against
42,110 tons in January and 49,
OO9 tons in February, 1880, &C,
cording to American Bureau Of
Metal Statistics. Foreign receipts
in February totaled 1882 tons.
against 2,202 in January and
| 363 in February, 1890.
The Washington times., 1931-04-07
Depression ShOlUn
In Canal Receipts

The world depression continues
to be reflected in Panama Canal
tolls, according to War Depart
ment figures.
During March, there were 439
transits as against SIS in March,
1881, while the tolls totaled ST.
964,434 as against $2,260,002 a
year ago,
The Washington times., 1931-04-07
Three Phone Issues
Offered by Bankers

First mortgage 5 per cent
bonds of the Southwestern AS
sociated Telephone Company, the
Michigan Associated Telephone
Company and the Interstate Tele-
phone Company, which are con-
trolled by Associated Telephone
Utilities Co., and operate in the
Middle West, Southwest and
Northwest, are being offered to-
day by Bonbright and Company.
Inc.
The three issues aggregate ST.
100000 and in each instance the
bonds offered comprise the en-
tire funded debt of the respective
companies.
The Washington times., 1931-04-07
STANDARD UTILITIES

A special stockholders meeting
of Standard Utilities, Inc, is
scheduled for April 13 to vote on
the reduction of the capital to a
nominal figure. At present the
company is in virtual liquidation.
The stockholders have received
the offer to exchange their stock
for the net asset value. about So
a share, or to exchange for stock
in Standard Corporations, Incp
at the net asset value Of eaSh.
The Washington times., 1931-04-07
Big Bond Payments
Are Due in April

Interest to be paid on domestic
corporate bonds, U. S. Govern
mentS, and foreign dollars bonds
in April totals 1898, ,280,935, ac-
cording to the Standard Statistics
Company, of New York.
Maturities, calls and redemp-
tions for these same classes of
securities will amount to $213,-
884,653 for April.
The Washington times., 1931-04-07
INGERSOLL RAND ORDER

Six Companies, Inc, San Fran
cisco contractors. who will build
the Hoover Dam in Arizona. have
placed orders with the 1ngersoll
Rand Co. for all air compressor
and rock drilling equipment that
will be required for this five-year
project,
The Washington times., 1931-04-07
AUBURN SHIPS 5,64e CARS

E. L. Cord, chairman Of the
board of the Auburn Automobile
Company, announced that the
company had shipped 5,649 Au-
burn and Cord cars in March, an
all-time record for any month.
In March, 1880, Auburn ship
ments were 2,499 cars.
The Washington times., 1931-04-07
JOINS BANKERS co.

RICHMOND, Va, April Z
Garlad H. Hayes, vice president
and manager of the trading de-
part,nent of Walter w. Craigie
& Co., has resigned to accept a
connection with Bankers Com.
pany Of New York.
The Washington times., 1931-04-07
BUTTER AT 1881 Low

Active selling in the final ses-
sion of the week brought Novem-
ber butter to new low COR the
year and June delivery off sharply.
Removals in four markets were
71,400 pounds more than a year
ago.
The Washington times., 1931-04-07
TEXAS OIL PROBATION

Statewide oil proration order
issued by the Texas Railroad
Commission will expire on
September 80 rather than on
May 30, as had originally been
planned.
The Washington times., 1931-04-07
ALCOHOL PRICE HIGHER

Alcohol is currently quoted at
"a cents a gallon in tank cars
and 81 cents in drums against
recent lows of 19 cents and %
cents. respectively.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-04
|. U. BUILDING
COSTS TALKED
Trustees Discuss Estimates
for FITTINGS.

Estimates of the cost of Quitting
the $531 900 Union Mems building at
Indiana university were discussed
today by the university's board of
trustees at a meeting at the Clay
pool.
Bids for elevators in the struc-
ture have been received, but must
lay twenty-one days before they are
opened.
1t is estimated that approximately
$250,O00 will be spent on heating,
electrical apparatus and furnishings
in the campus building.
Possibility that the custer of
Pat Page as football coach might be
discussed by the trustees was given
little hope by J. w. Fesler, board
chairman.
Members of the board attending
the meeting besides Fesler are
George A. Ball, Muncie; Charles M.
Meier, FIT. Wayne; o. L. Wilder
meth, Gary; B. F. Long, Logansport:
Frank H. Hatfield, Evansville, and
Mrs. Nellie Teter, Bloomington.