davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-03-19
UTILITY HEADS
TRUST LIST

A survey of the December 81,
1890, portfolios of so fixed and
100 management investment trusts
just released by Frazier Jelke and
} Company reveals a combined
ownership of 666,69O shares of
Consolidated Gas Of New York,
467 ,499 shares of Lehigh Coal
and Navigation and 412,967 shares
of Commonwealth and South
ern.
The portfolios examined show.
ed 358.974 shares Marine Mid
land, 322,556 shares of United
Corporation, 3OS,677 shares of
General Motors, 290.932 United
Gas Improvement, 290,195 Gen.
i. eral Electric, 286,038 Manufac-
turers Trust, 261,866 Common
wealth Edison, 252,026 National
Dairy Products, 202,560 American
Telephone and 201,282 shares
American Radiator and Standard
Sanitary.
Holdings of 40 issues aggre-
gated between 100000 and 200,-
900 shares each, while between
$4,000 and 100000 shares each
of So additional common stocks
Vere owned.
These figures do not include
the large blocks of individual
issues held by such investment
companies as Allegheny Corpora
ton, Chesapeake Corporation,
Electric Bond and Share, United
Corporation and United Gas I'm
provement; nor are inter-com-
pany holdings, such as Pennsyl-
vania's interest in Norfolk and
Western, included in the total.
Including these larger commit
ments, concentrated holdings Of
Niagara-Hudson Power total more
; than 12,180,000 shares; of Radio
Corporation, over $500, 900; Chesa-
peake and Ohio, over 1904 900;
United Gas Corporation, 4,020,-
$50; Public Service of New Jer-
sey, 3,065, $50, and Pacific Gas
and Electric, substantially more
than 2,293,495.
The Washington times., 1931-03-19
Utility Chief Joins
National Citv Board

Floyd L. Carlisle has been
elected a director of the National
City Company, investment affiliate
of the National City Bank Of New
York, according to announcement
made here yesterday. In April
of last year, Mr.. Carlisle Joined
the directorate of the National
City Bank of New York.
For the past, 10 years a domi-
nant figure in the public utility
industry in New York State, Mr..
Carlisle, during the past IL
months, has become actively
identified with the directorateS of
the leading utility companies in
and around New York city.
The Washington times., 1931-03-19
TO BUILD II
RADIO CITY /
ORDERED
$15,000,000 Contract Record
for Structural Fabric to
Be Delivered in November

NEW YORK, March 10 IN.SO.
A record contract for structural
steel, calling for delivery of 1885,
900 tons to be used in the Rookie
feller Radio City" in Mid-Man-
haitian, has been signed, it was
learned today.
Parties to the contract said the
the steel will cost approximately
SIS, 100000. It's manufacture and
erection will furnish work for be-
tween 5000 and 10000 men for
more than a year.
$4,000 On Construction
In addition, some $4,000 men
will be given construction jobs
during the three years it will take
to build the radio center.
The contract was signed in the
office of Todd, Robertson, Todd
Engineering Corporation, and
Todd and Brown, Inc. They and
Post and McCord, the successful
bidders, were the signers.
Delivery of the steel, which is
to be fabricated by the American
Bridge Company, United States
Steel subsidiary, is to begin in
November.
Begin In November
Construction work will start
then on the huge group OF build
ings that will rise between Fifth
and Sixth Avenues and Forty
eighth and Fifty-seventh Streets.
The order calls for three times
as much steel as in the Empire
State Building and two and one
half times as much as in the
Washington Bridge over the Hud-
son.
The Washington times., 1931-03-19
Takon1a Park Mayor Quit
Diplomacy for Finance

Ben G. Davis has been active
in civic affairs of the town OF Ia
koma Park and Of Montgomery
county, Md, since 1900.
He served as clerk and treas
urer of Takoma Park from 1900
to 1926, with exception Of a year
spent abroad in the service OF the
Department of State.
He was elected mayor in 1925,
reelected in 1928 and in 1880,
and is now serving his third con-
secutive term.
Sees Brake Needed
He has Jeen instrumental in
the growth Of Takoma Park from
a town of TOO to a small city Of
1000, the eighth city in popula-
ton in Maryland.
He is inclined to apply the
brakes a bit now, however, and
says:
"My contacts lead me to be-
lieve the majority of our citi-
zens object to any increase in
taxes during this period Of eco
nOmic depression. We are con-
frOnted by many difficulties, not
the least of which is proper city
government, and as mayor of
TakOma Park have lent all my
aid to keeping expenses within
bounds, that my people may not
be Overtaxed. At the same
time, an orderly expenditure is
necessary to meet the growing
demands"
Served With Bryan
Mr.. Davis is president Of the
board of trustees of the TAX ma
Silver Spring High School, a mem
Der of the Maryland-National
Capital Park and Planning Com
mission board of appeals and of
the Democratic State central
committee for Montgom mery
county.
He served as confidential clerk
The Washington times., 1931-03-19
BUYING
BASIS FIRM

Selling by the time payment
method is not new, but it has
broadened in scope and as an in
fluencing factor in trade activity
since the war, says the Standard
Statistics Company, of New York,
in a survey which continues, in
part:
"InStaEIment selling has largely
passed it's period of trial and
error, and may now be gener-
ally accepted as a permanent in
stitutiOn. AS the bulk Of con-
Sumer credit thus made avail
able greatly increased the buy
ing of marginal products prior
to the depression, SO the SubSe-
auent loss in purchasing power
has cOrreSpOndingly decreased
buying of these products since
1929.
'Tnstallment selling, therefore,
tends somewhat to broaden fluc-
tuatiOns between good and bad
times. We estimate that total
1880 time purchases at retail
declined more than one billion
dollars, or 20 per cent, from
1929"
The Standard report holds that
general business depression prob
ably was somewhat further inten
sified by installment sales of pro
ductive equipment which stimu
lated outputs of small units OF
industry at the crest of the ex
pansion.
The Washington times., 1931-03-19
FOREIGN TRADE
TILT SEEN BY
FARRELL
United States Steel Chief,
Calling Convention, Tells
Of Hopeful Prospect Near
BY JAMES L. KILGALLEN

~ SEANAGO LIE xA4ANEAAEGN
NEW YORK, March 10 GNS.).
An optimistic note in the business
situation was struck today by
James A. Farrell, president of the
United States Steel Corporation,
and chairman of the National
Foreign Trade Council. He said:
"There are indications that
the worldwide depression in
business, with which we have
been dealing for several months,
is subsiding and that the up
turn is beginning"
Mr.. Farrell issued a call for the
eighteenth National Foreign Trade
Convention, to meet in New York
on May 27, % and 20 next. He
added:
"Our commerce cOnfrOntS a
situation which merits the con-
SideratiOn of all concerned in
foreign trade. It is a time for
thorough examination of econO-
mic conditions, and for prac-
tical demonstration Of that
spirit and habit of cooperation
that so Signally marks Ameri-
can foreign trade. practice"
World exports for 1880, as esti
mated by the National Foreign
Trade Council, amounted to about
$27, ,0OO, 900 ,000-almost six and a
half billion dollars less than the
export trade Of 1929.
VOLUME HOLDS UP
In actual volume of export
trade, however, figures now avail
able show that, accounting fol
reduction in prices, the world ir
1890 carried on 80 per cent Of
the export trade of 1929, anc
almost billion dollars more ir
exports than before the war.
Mr.. Farrell will be among thu
speakers at the foreign trade con
vention here in May. He vii
discuss "The World Trade Out
look" Other speakers will include
Victor M. Cutter, president, United
Fruit Company, Boston, on "Ou
Relations with Latin America"
Wallace R. harrington, newspape
publisher of Honolulu and eX
governor of Hawaii, on "The Pa
cific Area" and DR.. Max Winkler
5000 to Attend
Preparations are being mad
for the attendance of more thai
5000 American foreign trader
from 40 States, while foreign bus
mess men and delegates from
American chambers of commerce
abroad are expected from 20 fol
eign countries.
The Washington times., 1931-03-19
CHICAGO LIVESTOCK

CHICAGO. March 10 s.(.-Hogs
Ss.S5; bulk, $6.50@s.So; heavyweight,
$7.1Od 7.16: medium weight. $3.50 80;
lightweight, $S15@S.S5; light lights.
$S.1O@S.35; packing sows, $40 @6.SS;
pigs, $7.5O@8.15: holdovers, 5000.
Cattle-Receipts, $500; market steady.
Calves-Receipts, $500; market 2SQ
soc lower. Beef steers-Good ana
Jun, S66S; yeariings, $601O.50. Butcher
cattle-Heifers S59s: cows, S4@6.50;
bulls. 81: calves. S61S.5O feeder steers.
sos: stocker steers. S5@7.75; stockeF
Sheep-Receipts, 1000 market steady.
Medium and choice lambs, $3.50 so;
culls and common, $6.50@8: yearlinEs.
$7@S.25; common and choice ewes, u
as; feeder lambs. $7QS.
The Washington times., 1931-03-19
National Radiator
q DEPOSITS Extended

Rudolph B. Flershem, chairman
of the reorganization committee
for National Radiator Corporation,
has announced the decision of
his committee to extend to April
Is the time for deposits under
the reorganization plan. to security
holders further opportunity to
participate in the benefits of the
plan.
He stated that $6,455, 900, con-
Stituting over go per cent Of the
corporations debentures had been
received for deposit.
The Washington times., 1931-03-19

and private secretary to Secretary
of State William Jennings Bryan
and as chief clerk of the Depart,
ment of State from 1918 to 1924,
and during 1924-25 was disbursing
officer of the department ~ the
American Embassy in Havana,
Cuba.
He resigned to become assistant
cashier of the Takoma Park
Bank, which position he still
holds. He has consistently advo
Gated and been instrumental in
securing for Takoma Park its
fine schools, streets and parks.
The Washington times., 1931-03-19
BUSINESS HERE
HELPED BY
BONUS
Banker Says Most Veterans
Spend and Invest Wisely;
Minority. Only Improvident

washington business men are
finding cheer in the distribution
by world war veterans of cash re-
ceived through loans on their
bonus certificates.
Although exact figures are not
available, there has been an in.
crease in store business and new
accounts have been opened in
banks by the veterans or members
Of their families. One banker
said:
Minority ImprOvident
"TOO much attention has been
given to the small minority of
service men who have spent
their bonus money fOOlishly-
buying liquor, getting drunk
and Jailed.
"But let's not lose sight of
the fact that many veterans
have paid up their debts with
bonus mOEsZ.
MANY others have spent this
cash to replenish their ward
robes, buy needed furniture and
supply other legitimate needs.
Many Invest Wisely
mo small number have
found ways of investing their
money so that it will bring re-
turns exceeding the interest
they are required to pay. Others
have launched modest business
enterprises or have bought into
firms by which they are en-
plOyed."
The spirit of cheerfulness has
been evident in the ticker rooms
of local brokerage houses also,
with the general trend of offer
Aings on the local exchange show
ing an upward swing through
February.
The Washington times., 1931-03-19
8,375, 900 Net Tons
RitunainOuS Loaded

The National Coal Association,
from incomplete car loading re-
ports from the railroads, esti-
mates bituminous coal production
in the United States for the week
ended March IA as about $685..
900 net tons.
The Bureaus of Mines estimate
of production for the week ended
February 28 was 7,455,000 net
tons, and for the week ended
March 7, 7,684,000.
The Washington times., 1931-03-19

Director New York University Bureau
of Business Research and Former
Economist of Federal Trade
Commission
One of the outstanding eco
nomic lessons of this depression
is the danger of attempting to
stabilize" prices. That efforts to
keep prices up to levels not justi-
fled by supply and demand have
brought poor results is now quite
clear.
Hope Springs Eternal
But always the individual busi-
ness man is apt to hope that
combination and price mainte-
nance may work in his particular
case. He admits that these things
are poor for others especially
those who supply his raw ma
terials), but wants to try them
himself.
For example, we can find no
more lucid and forceful explana-
tion of the unsoundness of arbi-
trary price fixing schemes Than
is presented in the annual re-
port of the American Sugar Re-
filming Company.
Dangers Are Cited
It goes straight to the heart of
the matter in pointing out that
such schemes as are now being
tried to keep up raw sugar prices
ere bound to keep production up
by keeping inefficient producers
going.
The report says THE Whole
Cuban program is calculated to
save high cost producers in Cuba.
Their situation, however, has be-
come worse with each attempt to
shield them from inexorable eco
nomic laws"
Weak Weeded Out
That is the point. Under COM
petitive conditions and the free
working of supply and demand,
overprpduction brings low prices.
Then low prices bring losses to
the inefficient high-cost produc-
ers. They fail, and pass out of
the picture.
That has two advantages First
it reduces the supply, thus allow
ing prices to return to a profitable
level. Second, it tends to concen-
trate production in the most eff
cient low-coSt companies.
The Washington times., 1931-03-19
INTERNATIONAL CARRIERS

International Carriers, Ltd, has
declared a cash dividend Of 1917
cents per share on the capital
stock, payable April 2 to stock
holders of record March 81. The
net asset value per share Of the
stock equaled $15.87 as Of March
16, shares at that time selling on
the New York Stock Exchange at
approximately 11A.
The Washington times., 1931-03-19
Refrigerator Sales
ShOU Marked Gain

Electric refrigerator sales OF
the Norge Corporation, Detroit
subsidiary of .Borg-Warner Cor
poration, for February were nearly
a quarter million dollars above
those of January.
Total sales for March are ex-
pected to double those of February,
This announcement was made
from the office of C. S. Davis,
president of the Borg-Warner
Corn.
The Washington times., 1931-03-19
GREEK BONDS CALLED

The Chase National Bank Of
New York; trustee, has issued a
notice to holders of Hellenic Re
public external sinking fund 8 per
cent gold bonds dated April /,
1925, and due April l, 1852, to the
effect that $1O4,0O0 principal
amount of these bonds have been
drawn by lot for redemption at
par on April /, 1881.
The Washington times., 1931-03-19
Barrel Factories
Working Part Time

Manufacturers of steel barrels
are operating on part-time basis
to keep employment at a maxi
mum during the depression, Col.
Arthur Woods, chairman Of the
Presidents Emergency Employ
ment Committee, was told yester-
da.' by D. S. Hunter, secretary of
the Steel Barrel Manufacturing
Institute.
The Washington times., 1931-03-19
BANK PAYS REGULAR

Directors of the American Sc
curity and Trust Company have
declared the usual quarterly divi-
dend of 8 per cent, payable April
10, to stockholders of record
March 81.
The Washington times., 1931-03-19
VANADIUM OFFERED

Lee, Higginson and Company are
offering at 971a and interest,
yielding about $50 per cent, new
issue of $4,000, 900 Vanadium Cor
poration of America 10-year S per
cent convertible sinking fund gold
debentureS, due April /, 194l.
The Washington times., 1931-03-19
SILENT AUTOMATIC

The Silent Automatic Corpora
ton has declared the regular semi
annual dividend of 81 a share on
the preferred stock payable April
/ to stockholders Of record
March IS.
The Washington times., 1931-03-19
Carnegie Advances
Steel Prices 81 Ton

PITTSBURGH, March 19.-The
Carnegie Steel Company, United
States Steel subsidiary, today an
nounced that it will take con-
tracts for second quarter delivery
for bars, shapes and plates at 1.65
cents a pound up to April / and
after that date at ITO cents d
pound, an advance of 81 ton.
The Washington times., 1931-03-19
STORAGE co. DIVIDEND

The board of directors Of the
Merchants Transfer and Storage
Company has declared the regu-
lar quarterly dividend Of $1.75
per share on preferred stock, pay.
able April 10, to stockholders Of
record March 81. Fleming New
bold has been elected a director,
The Washington times., 1931-03-19
EMPIRE TRUST co.

Empire Trust Co. declared a
quarterly dividend of 80 cents,
payable April l to stock of rec
ord March 10. This places the
stock on a $500 annual basis
against $40 previously.
The Washington times., 1931-03-19
PNEUMATIC CASINOS

Shipments of pneumatic castings
for January amounted to 3,744,-
$40, an increase of 11.4 per cent
over December, although is per
cent under January a year ago,
according to statistics by the
Rubber Manufacturers Associa-
The Washington times., 1931-03-19
MT. VERNON SAVINGS BANK

Director of the Mt. Vernon
Savings Bank have declared their
regular quarterly dividend Of 1R
per cent, payable March 81 to
stockholders of record March Is.
The Washington times., 1931-03-19
Penn POWer ShOWs
~ Per Cent Raise

Penn Central Light and Power
Company, a subsidiary Of Ma
tional Electric Power Company,
reports operating revenues for
1880 of $5,921,242, a "A per cent
increase over 1929, when revenues
Wer $5,679,846.
Balance available for bond in
terest was $3,763,575 in 1880,
compared with $3,311,117 in 1929.
The Washington times., 1931-03-19
TOWSON BULLETIN LIKED

The monthly bulletins on eco
nomicS edited by Col. Norman E..
Towson, of the Washington Loan
and Trust Company, is winning
a welcome among local financiers.
The Washington times., 1931-03-19
.HANEY SCOFFS
PR|CE-F|X|NG
SCHEMES
Outstanding Economic Fact
Learned From Depression Is
FutiIity Of Trying, He Says
By LEWIS HANEY

Dy NEVAO AAAAA0@
Director New York University Bureau
of Business Research and Former
Economist of Federal Trade
Commission
The Washington times., 1931-09-23
se18.28l miles mo repair
expense

seI8.28l miles-mO repair
EXPENSE
have driven 1921 miles over roads of
all kinds and could ask for no greater
performance than I get from my car.
The engine has had no adjustments nor
has the carbon been removed, and feel
confident that the car will run another
5000 or s, 900 miles before either is needed.
F. NJ. Frey
John Melady & Co.
Two Broadway, New York, N. Y.
e'Umusual economy
l am especially pleased with the unusual
economy, low maintenance expense and
smoOthness of operation.
The operating expense on the new Chew
rolet is astOundingly small. Our cars
average from Is to IS miles per gallon.
The oil consumption is positively nil
compared with other high speed motors.
VIM. Taggart
Creenville, Miss.
The Washington times., 1931-09-23

e'NO one could ask for nlOre''
On trip between Syracuse and Raleigh,
North Carolina in a new Chevrolet special
sedan we covered l 72O miles, using eighty
four gallons of gasoline or an average of
2O.8 to the gallon. Certainly no one could
ask for more in smOothness of driving,
ease of handling and control and the
utmost of convenience, comfort and
economy in its operation.
Geraldine C. Fitzgerald
Syracuse, New York
The Washington times., 1931-09-23
s'LOwer cost per ImiIe''
ssI ann satisfied

I recently completed 42OO mile trip. I
used 239 gallons of gas for an average of
l8 miles per gallon, and 30 quarts of oil.
l averaged better than 500 miles per day
with no physical strain Whatsoever.
To say that am satisfied from the stand
point of low cost of operation as well as
mechanical performance, would be put
ting it mildly.
Peter ]. Cantone
Tulsa, Okla.
The Washington times., 1931-09-23
ec22 miles to the saIIOn''

In a little over three months have
driven my Chevrolet coach eight thou
sand seven hundred miles at no expense
whatever and | am getting better than
twenty-five miles to the gallon. / had
a 1929 coach and drove it sixty-two
thousand miles with no major repairs.
John Bartholomew
Sheriff of Newton County
Kentland, Ind.
The Washington times., 1931-09-23
CLOVER cost per mile each
years

CLOVER cost per mile each
years.
Starting with one Chevrolet roadster in
1926, adding Il in 1927, our feet of Chew
rolets has grown to q total of ITO coupes.
The cost of operating has been very satis-
factory, each year showing a lower cost
per mile than the previous year.
C.. C.. Massie, President
NOrthrup, King & Co.
Minneapolis, MINI.
s'LOWer cost per miIe''
Your slogan "For Economical Transpor.
tation" is indeed a very true one, for our
Chevrolet trucks and passenger cars
have given us lower operating costs per
mile than we have ever had before in
either type of service.
d. N. johnson, President
Dixie Oil Corporation
Moline, Ill.
The Washington times., 1931-09-23
e'POwerful and eeOmOmiCale'

l have been operating a 1880 Chevrolet
for the past eight months and have found
same to be powerful car and economical
to operate. / average from twenty to
twenty-five miles per gallon. The fact that
this is my fifth Chevrolet speaks well for
my personal opinion of this make of car.
Russell T. Twiss
Seattle, Wash.
The Washington times., 1931-09-23

eeRegardIess of hard driving''
l have driven my Chevrolet $4,000 miles
and have continuously averaged better
than 20 miles to the gallon of gasoline
and change my oil every 800 miles, never
adding new oil to the old. My drivers
and myself use this car harder than the
average but it has only cost me 4l2.OO,
for repair.
r. r. Belcher
Star Cleaners
Palestine, Texas
The Washington times., 1931-09-23

'sHave had NO expense''
| have 14.OOO miles on my Chevrolet and
as for economy have had better than
20 miles to the gallon. Have had no exc
pense. Performance is wonderful in the
mountains as well as on the level.
Paul L. Funke
Nebraska City, Nebr.
The Washington times., 1931-09-23

'eLess than Be per nlile''
have driven this sedan $4,000 miles and
it is giving me good service yet and runs
good. have operated this car for less
than three cents per mile. never have to
add any oil, and get better than 20 miles
to a gallon of gasoline.
G.. G.. Woodruff
Creston, Iowa
The Washington times., 1931-09-23

''SPent nothing for repairs
Ihave been driving one of your Chevrolet
Skies for some time. and / have been
considerably impressed with the economy
of operation and maintenance; as q mat
ter of fact have not spent any money
at all for repairs. My costs of operation
have been limited entirely to gas and oil.
Russell E. Gardner, Jr.
Reinholdt & Gardner
St. Louis, Mo.
The Washington times., 1931-09-23
's98 miles fOK. S8css

es98 miles for SBcss
Just drove 96 miles on four gallons of
low test gasoline for fifty-eight cents.
That's what call economical transpor"
tation.
G.. B. Bunker
The Radio Doctor
BelOit, Wise.
The Washington times., 1931-09-23
Wonderful IlllIeage!''

" UWUEFEUI MlIHDUBCS
The operation cost of my 1880 Chevrolet
is very small, the gas mileage averaging
above 20 miles to the gallon. We use no
oil except the change at thousand mile
intervals and the tires, if kept properly
inflated, give wonderful mileage.
Willis A. Charlton, Mgr.
Hester Dairy
San Jose, Calf. ~.
The Washington times., 1931-09-23
''ThrOugh rain, hail, mud and
CyclOnic Wimds9e

My sedan has travelled 81 900 miles to
over roads of New Mexico, Texas, Okla.
homa, Kansas, Nebraska, Wyoming, Utah
and Colorado, through rain, hail, mud
and cyclonic winds-averaging about
2lA miles per gallon.
Arthur ]. Davies
Denver, Colorado
The Washington times., 1931-09-23

Zone valve grind I'm 3 900
miles,
I have driven my Chevrolet Six $1,000
miles, using 1t every day. The total
expense has been one valve grinding job,
brakes refined once, and a set of tires. /
might mention that used the original
tires for $4,000 miles. have averaged
better than 20 miles to the gallon.
C.. Nj. Gortner
Rock Island, Ill.
The Washington times., 1931-09-23
eel was not surprised''

recently won &75 by driving a stock
Chevrolet Six 3O.2 miles on a gallon of
gasoline. was not surprised at this
result, because our own Chevrolet Six
has been driven over $4,000 miles and
still gives better than 2l miles per gallon.
We have had the valves ground only once.
We, of course, drive much faster than
the speed driven during the contest.
Mrs. L. ". Esbenshade
Mansfield, Ohio