davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-01-07
DEATHS

CRAIG. CHARLES ROGERs-on Monday
morning january s. 1891, at Z :O5
O'clock, st his late resIdenSe S6o9 Thirty;
CRAIG, cSA tn; the 5eloved husband Of Nay joyce
Craig. in the fifty-eighth year of his age
Funeral services win be conducted from
N w. on wednesday morning, January Z
1891. at i L o'clock. Interment will follow
in Mount ,olvst Cemetery
Richmond Va; papers please copy.
DEE. ELIzARETH E.-on Monday. Jan.
ELIZABETH r. DEE, the beloved wife OF
sergt Joseph W. Dee. Of the war College
finance department.
the w W. W. Chambers Company 'eh funeral htTa
home, 1900 Chaplin st. N. w, on Wednes-
Gay Soo afternoon ysnTSiy wi leSi St
ton National Cemetery.
PORTER. HERBERT w-Passed away
field Hospital. HERBERT W, PORTER.
the beloved husband Of Augusta B. Por-
Masonic funeral services will be con,
duested d!ns frog his late rssSidenee; S; 1891 Della
ment viii follow at. Fort Lincoln Gene
attend serves BY are
vROOMAN, JULIA F.--peparted this life
at her late residence 4sS0 Fourteenth st.
N. ". MRS. JULIA F.. VROOMAN. the
beloved widow of Charles E.. vrooman.
She +, is survived by five children. one
daughter, Mrs. Benjamin, c. Cookman, and
four sons. Raymond r. Vrooman. Edward
| E.sVrooman, Henry B. Vrooman and For
Funeral services will be conducted from
the W. w. Chambers Co. funeral home.
140o Chaplin St, N. W. on Wednesday
afternoon" January T. 1881, at 2 O'clock.
| Intern1ent Inrivate1 will follow at Glen.
wood Cemetery.
The Washington times., 1931-01-07

uary 3. 1891. at his late residence, 3104
Monroe st. n E., after long illness,
ALoYSIUS G. HABER. the beloved hus-
is survived by two children, one daughter,
Miss Dolores Haber, and one son, Mr; Nor
bert -Haber: his mother. Mrs. Mary Haber ;
Funeral services will be conducted from
his late residence. .3104 Monroe st: \; e..
on Thursday morning, January 3, 1881, at
80 o'clock, thence to St. Francis De
Sales Church. Twentieth St. and Rhode
Island Ave N. E., where requiem mass
will be said at 8 o'clock for the repose OF
his soul. Interment will follow at Mount
Olivet Cemetery. Relatives and friends
are invited to attend.
SerYice hY Chambers Co.
The Washington times., 1931-01-07

CLABAUGH. .ALvAH Non Sunday, Jan:
uary 1, 1881, at his residence, 116
Seventeenth st. 8. E. ALvAH n. CLA-
BAUGH the beloved husband Of Minnie
Funeral services will be conducted from
his late residence 116 Seventeenth St. s.
E. on Wednesday, January z. 1881, at
2 .. m, Relatives and friends are invited
to attend Interment will follow at Cedar
Hill Cemetery. (Frederick. Md, papers
please copy,)
The Washington times., 1931-03-23
NETS
S1,807,149

H. M. Byllesby & Co., for the
year 1880 had net income of ST.
807, 7,149, after all expenses and
taxes, it is shown in the annual
report just issued.
The report reflects the effect
of the general depression and
drastic liquidation of securities
values during the year by a re-
duction in the market value of
the company's portfolio as shown
in it's statement as of December
81, 1880. It is pointed out in
the report. however, that the
values of these securities at pres
ent are substantially above levels
of that date.
Cash dividends of 50 a share
were paid during the year on the
company's preferred stock and
Glass A and Class B common
stocks.
Results achieved in 1880 are
considered satisfactory President
John j. O'Brien states, adding:
"The company is in excellent
position to take immediate ad.
vantage of any improvement
in general financial and bust
ness conditions"
The Washington times., 1931-03-23
Washi11gtonMddlem1enD Do
$237 139, 1877 Business

volume of trade of $63 3.681 ,095
for 1929. This constitutes 55
per cent Of the total volume Of
business transacted by the whole
SalerS Of Washington.
The food and tobacco products
business consists of 13 meat and
meat products wholesalers with
net sales of $11,873,018, Is poul-
try and poultry products whole
SalerS with net sales Of $3,977,-
584, IS gorcery wholesalers with
net sales Of $1O,873,046, and II
miscellaneous wholesalers with net
sales Of $36,e57,447.
Many in Electrical Line
The second trade group in i'm
portance is the hardware, cleo
trical, plumbing and sporting
goods business. In this group
are 48 wholesalers reporting $16.-
561 ,452 net sales. Of these, 81
are engaged in the electrical
goods including radioS( business
and report a volume of 81 064 ,544;
10 are in the plumbing and heat
ing equipment and supplies busi-
ness, with a. volume of $5,687,,
042, and ii are in the amuse-
ment and sporting goods business,
with a volume Of S2,538,227.
Other trade groups in order
Of Importance are the automotiVe
business with 81 establishments
and volume of sales Of $9,904,21
and the metals and minerals lex
cept junk and Scrap) business
with 8 establishments and net
sales Of $4.403.711.
The Washington times., 1931-03-23
PRICES ON CURB
STOCKS SAC

NEW YORK, March 23.-Curb
stocks dropped back quite sharply
today, as selling of a quiet but
persistent character forced an
abandonment of further con-
structive operations, and resulted
in a generally reactionary tone
throughout most sections of the
market.
Northern States Power was the
outstanding weak spot in a reac-
tionary utility group, slumping
more than 4 points to 148A.
Other issues to encounter large
scale offerings were American Gas
and Electric, off 15s at 80; Elec-
trio Bond and Share, off 13s at
57A; Electric Power and Light
warrants, off 1zs at 5714; Ameri-
can and Foreign Power warrants,
off b at 271a; Brazil Traction, off
B at 233s, and American Super.
power, off y at 1914.
The Washington times., 1931-03-23
AIR LINE FARES
RIVAL RAIL

Fares comparable with rail
tariffs were announced by the
Century Airlines for the first
unit Of their lines connecting
Chicago and st. Louis via Spring
field, ILL.,, and Chicago, Toledo,
Detroit, and Cleveland.
Planes will operate on frequent
schedules. In all terminal cities
passengers leave downtown hotels
on the hour and are transported
to the airports in high speed
buses. Plans call for planes every
hour between the terminal cities,
within 30 days, L. B. Manning,
vice president and general man
ager, has announced.
Typical fares are Chicago to
Toledo, $6.15; Cleveland to De-
troit, $8.95; Cleveland to Chi
cago, $15.95, and Cleveland to
st. Louis, 5000.
A 10 per cent reduction is given
by the company on all round trip
tickets and special communication
fares are offered.
The Washington times., 1931-03-23
RAIL NET DROPS
IN FEBRUARY

The first six railroads to report
February earnings had net operat-
ing income aggregating So, las, 900,
compared with $4,364,00O in the
like month last year, decline OF
sos per cent, and with $6,256, 900
in the corresponding month in
1929, decrease of 65.6 per cent.
The report includes the Chesa-
peake and Ohio, Pere Marquette,
Nickel Plate, Chicago and Alton,
Kansas City Southern, and 500
Lines, the first three accounting
for the large decline in net. The
January, 1881, net of these roads
totaled $2,695, 900.
These carriers had gross
revenues in February amounting
to $18,735, 900, against $24,5l4,OOO
in February, 1880, reduction OF
23.5 per cent, and against $27,-
089, 900 in the same month in
1929, drop of 3O.8 per cent. Janu-
ary gross this year amounted to
$21,O67 900.
The Washington times., 1931-03-23
Cotton Off Under
Scattered Selma

NEW YORK, March % UN.S0.
The New York cotton market was
easier during the early trading
today under scattered selling by
nervous longs on the Farm
Boards statement that it will not
extend its stabilization Of wheat
into the new season.
It was the consensus of opinion
that if the Farm Board is to
abandon it's stabilization Of all
commodities, it will be very con-
structive in the long run for all
of the markets and will be a big
help to business in the future. At
midday March sold at 1888, off
6; May at 1925, off 6; July at
11.21, off S: october at isl, off
6; December at 11.72. off 8, and
January at 11.8O, off 9. Scattered
selling came from the South at
the opening.
The Washington times., 1931-03-23
RAILROAD.
HIGH LIGHTS
MARKED
Both Freight and Passenger
Traffic Declined, Head of
Economics Bureau Reports

The outstanding features Of
railway operation in 1880 have
been summarized as follows by
DR.. Julius H. Parmelee, director
Bureau of Railway Economics:
Freight traffic in 1880 declined
about IA per cent under 1929.
Net ton-miles were off 14.3 per
cent, while revenue car loadings
decreased 1871 per cent. These de.
clines brought the freight move.
ment of 1880 down to the level
of 1924.
Passenger Traffic Off
Passenger traffic declined 1877
per cent, and was less in amount
than in any previous year since
1906.
Total operating revenues de-
clined 16 per cent. The aggre-
gate for the year was lower than
in any previous year since 1919.
Total operating expenses were
lower than in 1929 by 1873 per
cent, and fell below those Of any
preceding year back to 1917. Each
Of the general groups Of operat-
ing expenses showed reductions,
ranging from IT'S per cent for
maintenance of way and structures
down to is per cent for general
expenses.
The operating ratio in 1880
averaged 74.4 per cent, compared
with tit per cent in 1929. This
contrasts with an almost steady
decline in the ratio from 1920 to
1929.
Operating Income Lower
Net railway operating income
aggregated $685. 100000 in 1880,
which was a decline of $390000,-
900, or 306 per cent under 1929.
The rate of return on railway
property investment averaged 1856
per cent in 1880. This was the
lowest rate of return recorded
since 1921.
The technical index Of railway
efficiency in 1880 fell slightly be-
low that of 1929, but stood higher
than in any previous year since
the war.
The Washington times., 1931-03-23
n. { v, EARNING
LEADS RAILS
FOR YEAR
Company Will Carry Fight
on |. c. C. Recapture Order
to Courts, Says President

Despite the fact that operating
revenues Of $100,530,458 were the
lowest since 1924, the Norfolk
and Western Railway Company
today reports earnings for 1880
of $21.97 per share Of common
stock, the largest Of any Of the
Glass railroads. This was par
TALLY made possible by a reduc-
tion Of expenses to $59,675,725
the lowest since 1917.
Thus, while operating revenues
showed material reduction, the
ratios of 59. .36 per cent for operat-
ing expenses and 24.17 per cent
for transportation expenses COM
pared favorably with the CORE
spending figures of 56.15 per
cent and 22.02 per cent in 1929.
Expenses Reduced
Operating expenses we're re-
duced $6,375,522 or 9.65 per cent
from 1929; maintenance of way
and structures, $3,006,589 or 20.26
per cent and maintenance of
equipment $2,044,712 or 9.18 per
cent and transportation expenses
$1,600,266 or 6.18 per cent.
Monthly operating expenses
were decreased as the year pro-
gressed, showing in the earlier
months of 1880 virtually the
same as in 1929, while the later
months were substantially lower
Expenses of $3,958,033 in Decem-
ber compared with $5,423,824 in
the same month Of. 1929.
Taxes amounting to So, $780, 900
were paid for the year, the
amount being made up of S.
850,000 in Federal taxes and $6,-
100000 in State county and mu
nicipal taxes. United States Gov
ernment taxes decreased COM
pared with 1929, due to a reduc-
tion in earnings, but State, county
and municipal taxes increased,
due to higher assessments.
Commenting on the. Interstate
Commerce Commission order of
February 13, 1881, which held
that the Norfolk and Western
should pay to the commission
$15,849,344, or one-half Of the
earnings for the three years 1924,
1925 and 1926, said to he sub
ject to the recapture clause of
the transportation act, A. C..
Needles, president of the COM
pany, says:
May Go to Courts
"YOur company will file a
protest denying that the values,
net railway operating income
and consequent recapturabIe
amounts are correct and law
full. This protest will raise the
issues which will in due course
be heard and determined by
the commission. If the COM
mission should adhere to the
conclusions reached in the ten
tative recapture report, your
company will then carry the
case into the courts and have
the issues of fact and law
there authOritatively deter
mined" .
This case is regarded in rail-
road circles as of Importance in
determining future recapture cases
and may serve as test case for
all such instances.
The Washington times., 1931-03-23

A preliminary tabulation of data
collected in the census last year
shows 313 wholesalers in Washing
ton in 1929 did a business Of $115.-
843,350 They employed 4,469 per-
sons, to whom they paid $780,
921 in salaries and wages.
Besides these wholesalers proper
there is a large number of eStab-
lishments in the wholesale field,
such as manufacturers sales
branches and bulk tank stations
in the petroleum industry, which
operate very much like whole
salers. Bulk tank stations sell
large quantities of gasoline in the
regular wholesale manner in ad-
dition to supplying gasoline to
filling stations operated by the
same organizations.
Other Middlemen
Besides, there are large num-
bers of what may be termed
functional middlemen," such as
brokers, selling agents, etc. The
total volume of business transact
ed by all establishments in the
wholesale field in Washington in
1929 amounted to $237 ,139, 1877.
This volume of business was re-
ported by 440 establishments,
which employed 7,248 men and
women, paid them $13,087,14s in
salaries and wages, and carried
stocks whose cost value at the end
of 1929 amounted to $13,65O,636.
OF the 313 wholesalers proper
operating in Washington, l25 are
engaged in the food and tobacco
products business and report a
The Washington times., 1931-03-23
DIVIDEND CUTS
GROW APACE

Whereas in the prosperity year
1929, increased, initial, resumed
or extra dividends were being
declared at the rate of 200 to
800 per month, favorable an,
nouncements Of this kind dropped
to 76 in February of this year,
says the Standard Statistics Com.
pany, of New York, in a current
survey of the dividend situation
which continues:
'In the first two months Of
this year there were but 226
initial, increased, resumed or
extra dividends, cOntraSted with
468 in the same months last
year and 553 bullish dividend
declarations in January and
February Of 1929. There was
q sharp rise of the curve in
December of both years, though
the December peak in 1880
was we'll below that of 1929.
From the December bulge
It would appear that a great
many corporations like to wish
stockholders a Merry Christ
mas in terms of increased or
extra dividends. Also, of course,
arrangements have a pretty
good idea Of the years income
results in December, and the
final month is favored for max
ing extra or special diSburse-
mentS where warranted.
"In the first two months
Of this year 312 dividends
were reducted or omitted as
against ia unfavOrable an
nOuncementS of this kind in
the like months of 1929. In
these figures we see the prog
resS Of the business cycle from
prosperity to depression. Slowly,
irreguIarly, but surely, the num-
ber Of unfavorable dividend an
MOuncementS per month has
been climbing ever since the
early part of $780,"
The Washington times., 1931-03-23
PERU CALLS BONDS

j. & w. Seligman g. Co. and
the National City Bank of New
York, fiscal agents of the Repub-
lie of Peru, are notifying holders
of Peruvian national loan E per
cent external sinking fund bonds,
second series, due October l, 1861,
that 911,200 principal amount OF
these bonds have been drawn by
lot for redemption at their prin-
cipal amount and accrued inter
est on April 1, 1881. Interest on
the drawn bonds will cease on
April /.
The Washington times., 1931-03-23
Bethlehem Merger
Appeal Off to June

YOUNGSTOWN, March %.
Hearing on the appeal of Beth
lehem Steel Corp. and Youngs-
town Sheet & Tube Co. against
injunction Of the honin g
County, Common Pleas Court
which blocked merger of the two
companies probably will not be
held before June when the Ap.
pellate Court again is in session
at Youngstown.
The h earing originally was
scheduled for Thursday but the
court adjourned without consid-
ering the merger.
The Washington times., 1931-03-23
UTILITY PUSHES
APPLIANCE
SALES
Central Public Service Puts
Out $4,816,316 Worth Net
In 1880, by Intensive Plan

CHICAGO, March 23.-Oper.
ating properties of the Central
Public Service System sold mer-
chandise and appliances worth
$4.815,316 during 1880, E. L. Cal
lahan, general commercial man
ager, has announced. This fig.
ure, which represents net sales
after all returns and allowances,
Is gain of 9.3 per cent or $413,-
S48 over merchandise sales in
1929. Mr.. Callahan added:
Importance Demonstrated
"The importance of mer-
chandiSe and appliance sales is
demonstrated by the fact that
over 80 per cent of all sales rep
resent new installations, Great
ing additional demands for gas
and electricity in territory now
being served.
"SinCe the relative importance
In this load building activity of
heating and other appliances
creating large service demands
Is the greatest, our principal &C
tivitieS in 1891 will be directed
toward the merchandising of
heavy load building appIi-
anceS."
Local Campaign Success
The Washington Gas Light
Company, operating control of
which, it was announced recently
had passed to the Central, opened
here last fall an intensive appli-
Gnce sales campaign, advertised
widely as its contribution to the
solution of the local unemploy-
men problem. President Wood,
Of the local utility, has published
figures from time to time show
ing the success of the Washing
ton campaign.
The Washington times., 1931-03-23
T|PSTERS,
STUDY FACTS,
SAYS HANEY
Forecasting Agencies Score
Less Than Half Time Over
Ten Years, on Stock Trends
BY LEWIS HANEY

BY LEWIS HANEY
Director NetD York UniverSitv
Bureau of Business Research
and Former Economist of
Federal Trade Commission.
In Boston the other day the
head Of savings banks made q
statement to the effect that fore
casting is Of no value as a guide
to the future trend of security
markets. He said:
"The forecasts are more likely
to be wrong than right and fl
nancial bureaus and statistical
agencies have made a lament
able failure"
Score Under so Per cent
In the 10 years, 1918-1928, their
forecasts varied between 36 per
cent and 81 per cent right. They
were even worse in 1929. On the
whole, their performance has not
been so per cent.
In his opinion, it is impossible
for even the best statistical de-
partment to forecast either stock
or bond markets.
This is a pretty hopeless atti-
tude. Is there no use in trying
to look ahead? What are banks
and investors in general to 10
when they buy securities?
Old Question Revived
Probably this banker, would say
that all you can do is to rely
on your own judgment. But thai
that each individual would
be doing his own forecasting. You
can't make an investment with
out making some sort of a fore
cast.
So we come to the old question
Of the business mans impress
sions and feelings about the out
look VS.. an attempt to weigh all
the statistics and other factors
in a scientific manner. Which
is the better basis?
I have much sympathy with
this bankers disgust with fore
casting services" and bureaus.
There are many quackS who pose
as forecasters. Some are too aca-
demic and do not have a practi-
cal knowledge of business and fl
nance.
Questionable Influences
Others are obsessed with some
particular barometer" which
they follow blindly. Many are in
fluenced by their own position in
the market, and some are even
bribed by market operators.
It is true that forecasting serv-
ices are wrong about half the
time and that their forecasts are
mostly not worth paying for.
But I do think that a skilled
and scientific forecaster can sum
up the favorable and unfavorable
factors in a situation in such a
way that he can draw valid con-
cluSions as to the underlying
trend. This may be a very valu-
able service, and give much more
consistent results than an indi-
viduaPS lunches"
The Washington times., 1931-03-23
NeU Haven Called
'PaIUn' of PennSy

BOSTON, March % UNSO.
That the New York, New Haven
and Hartford railroad. one of the
largest New England carriers, is
o pawn" being used by the Penn
sylvania railroad in the game Of
''railroad chess" It is playing with
the New York Central is a sum-
mary Of the view taken by Samuel
Silverman, corporation counsel, of
the railroad situation as it exists
In Massachusetts, today.
The Washington times., 1931-03-23
Illinois Steel Bar
Price Up So q Ton

CHICAGO, March 23.-The
Illinois Steel Company, largest
subsidiary of the U. S. Steel
Corp, will advance the prices of
steel bars, shapes and plates 81
ton to the basis of 1.80 cents
pound on April /, in the Chi
cago area. Independent producers
in the area are expected to fol-
low.
Prices of steel sheets will be
unchanged from the current quo
tations Of $2.10 to $2.25 a box for
blue annealed, $3.10 for galvan-
lied, and $3.50 for black sheets
f, o, b. mills.
The Washington times., 1931-03-23
BONDS REDEEMED

Holders of City Of Santa Fe
(Argentine Republic) 7 per cent
external secured sinking fund
gold bonds, dated April /, 1927,
due April /, 1945. are being noti-
fled by the Chase National Bank
of New York and the Bank of
America, N. A., fiscal agents, that
$500 aggregate principal
amount Of these bonds have been
drawn for redemption at par on
April /, 1881.
The Washington times., 1931-03-23
Slight Falling Off
In WeekLu Failures

Business failures for the week
ending Thursday. March 19, as
reported by Bradstreet'S totaled
$40, which compares with 555 in
the previous week, Sis in the like
week of 1880, 408 in 1929 and
40 in 1923.
OF the number failing this
week 74.8 per cent had a capital
Of $4,000 or less, against 1873 per
cent last week and 68.1 per cent
In the corresponding week of last
VAar
The Washington times., 1931-03-23
CANADIAN WHEAT

OTTAWA, March &C a n.
adian exports Of wheat during
February totaled 1926, SOB
bushels, while wheat flour ex-
ports were 414,773 barrels. I'm
ports included 1892 bushels of
wheat and 1,698 barrels Of flour.
The Washington times., 1931-03-23
IMMIGRATION OFF

Visas issued to persons intend
ing to immigrate into this country
amounted only to 10 per cent Of
the normal quota for February,
Secretary Of State Stimson re-
ports.
The Washington times., 1931-03-23
MUNICIPAL SERVICE co.

Net profit of Municipal Service
Company and subsidiaries for year
ended December 81, 1880, was 81,
430,680 after charges, Federal
taxes, ETC.. against $1,757s75 in
The Washington times., 1931-03-23
FINANCE NEW CARS

A new issue Of 5000, 900 National
Steel Car Lines 5 per cent equip
ment trust certificates for the
construction of SIS steel under
frame and steel superstructure is
expected shortly.
The Washington times., 1931-03-23
DAYTON BONDS OFFERED

A new issue of $780, 1000 city of
Dayton, Ohio, 3A per cent and
4 per cent bonds, maturing Sc
rally September /, 1882 to 1861,
inclusive, is being offered today
at prices to yield from to 3.85
per cent by Continental Illinois
Company, Inc, First Wisconsin
Company, and Mitchell, Herrick
& Co.
The Washington times., 1931-03-23
CAPITAL INCREASED

LONDON, March 23.-Panama
Corporation proposes to increase
capital to E4,500,000 by creation
of 100000 new G5 shares.
The Washington times., 1931-03-23
WASHINGTON TIMES

BUSINESS OFFICE 1917 h 81 N ".
RATES DELIVERED By CARRIER TO
WASHINGTON AND ALEXANDRIA
The Washington Times daily iS de.
ivered by carrier at 10 cents per week.
Daily Times ana Sunday Herald Is
cents per week: Daily Times ana Her
aid daily 20 cents per week: daily
Times and Herald daily ana Sunday 2S
cent. per week
Orders can be sent by mail or tele-
phone District $3.50. Collection 10 made
weekly by carrier.
RATES By MAIL
payable In Advance)
Herald Only TimeS OAly
/ month ...$ so l month ... so
months 90. 1.26 . months -. LIS
8 months 80. $50 : months ESQ
! year ...... 500 l year ...... 500
Herald or Times
Sunday Only and Sunday
month ....$ SO I month ....$ .9B
3 months -. 1.26 8 months -. 2.6O
months -. $50 months -. soc
The Washington times., 1931-03-23

New York funds in Montreal, $O.4Sh
premium at $1,000.
Montreal funds in New York. 2o.4s%
discount ct $1,000