davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1931-12-03
PRICES ON CURB
IN GENERAL
RETREAT
Traders Discouraged After
Watching Market Back
And Fill Crafty

NEW YORK, Dec. 3 G.N.S).-
The curb MARKET continued to
back away in rather diScouraging
fashion today, with persistent
selling pressure In leading issues
forcing the general average
dangerously close to their bot.
toms for the decline.
Traders could work up little
enthusiasm for a market which
one hour gave indications Of
rallying and in the next tried to
see how quickly it could run
down the line.
Utility Prices Slip
The utility group chalked up its
usual batch Of minus signs in q
contentious fashion as possible.
American Gas and Electric was
off almost a point at 41Ha, cleo
trio bond and share in sagging
"a to 1917. closely approached its
old low at 14A, while the usual
insignificant declines were chalked
up in American Superpower, AS
ISOLATED Gas and Electric A,
Middle West Utilities. and United
Gas.
Investment trusts continued
their process Of deflation, with
new all-time lows being reached
by Pennroad at 25s, and Goldman
Sachs at 23s.
Standard of Nebraska was q
bright feature in q generally
lower oil group, moving ahead to
25A for a net gain of 2 points.
Other Oils Drop
This was offset by a loss Of
almost a point in Gulf to 43, and
fractional declines in Standard Of
Indiana and Standard of Ken.
lucky.
Specialties were under the ham.
mer, with many of the former
leaders in this section declining
sharply on relatively light offer.
ingS. Mead johnson was off 2A
points at 1874, A. o. Smith was
down 2b at So, Aluminium off
ia at 65A, and Newmont Mining
showed a loss of "a at 3A,
The Washington times., 1931-12-03
OCTOBER Lows
ARE NEARING
FOR MANY
lndustrlalS Now in Critical
Position, Professionals
Holding Market
BY w. s. COUSINS

NEW YORK, Dec. 8 U.N.S)
In contrast to yesterdays violent
early dips end rallies in the rail
and industrial stocks, the market
was quiet and steady early to
day, with prices moving in q very
narrow range. Wheat, corn and
cotton were also steady at the
outset, and sterling exchange
scored another slight recovery to
S.37.
United States Steel dropped off
to new low at SIN at the open.
ing, but support appeared at that
price. U. 8. Steel preferred was
again under pressure, losing AZ
points at 1854.
Shorts Quickly Covered
After the early short covering
had been completed, Auburn Au'
to, General Motors and other ia
vorites returned to their low open.
ing prices. General Motors and
American Can were the weak
spots Of the favored industrials
and sold close to their record low
prices.
With the industrial testing"
the october low average, the
market was in a critical position.
Professionals accounted for the
bulk of the buying and selling,
which, after the first hour, mar
rowed down to a handful of the
wellknown rails and industrials.
Rumors of proposed bans Of va
riouS kinds on short selling floated
through the financial district, but
all Of them lacked officia con-
firmation.
Interest Believed Heavy
Estimates Of the outstanding
short interest ran as high as
5000, 900 shares, and some light
on the subject may be shed
by the Stock Exchange in it's
monthly statistical bulletin, due
on December is.
Railroad stocks held their
ground, amusement stocks were
fairly steady and the oils firmer
on further increases in gasoline
prices.
Railroad bonds rallied for the
first time in more than week.
Call money was unchanged at
On per cent.
The Washington times., 1931-12-03
OIL, Gas LEASES
/. PAY j. 8. LESS

Receipts under the mineral
leasing act, in the fiscal year
ended June 80, last, totaled &c..
531, 655 as compared with $4,739,.
O95 in the previous year, General
Land Office states.
There were 90 leases issued,
covering an area Of $1,000 acres
Of oil and gas lands. These were
the so-called preference leases
awarded to persons, who, as the
result Of prospecting, discovered
Gil or gas.
The lands subject to all apple
able public land laws are IT..
101 ,551 acres. OF this area, 1877.
1858 acres are surveyed and
1885 $3.50 acres are unsurveyed.
This does not include land stu.
ated in Alaska or embraced on
Indian reservations, national for.
eStS or parks.
The Washington times., 1931-12-03

forever. One can only sit back
and hope there will be some equity
left when the inevitable turn in
the tide develops.
There are a number of inpor.
tant developments in the offing
which should exert a decidedly
favorable effect upon the market.
Some Possibilities
A list of influences working
for betterment includes:
Likelihood that the railroads
plan for a loan pool to help weak
lines will be approved by the
Interstate Commerce Commission
Possibility that an agreement
on wage reductions between the
railroads and the unions is
nearer than currently believed.
The Presidents message, due
next Tuesday, is expected to be
very constructive and to marshall
facts and figures to show a strong
underlying condition for Amer.
lean finance and business.
Developments in Germany are
expected to bring about a re-
newal Of at least a part of the
short-term commercial credits.
Rail and Realty Credits
Provision for q Federal revolv.
Ing credit for the railroads.
Provision for credit to ease the
real estate mortgage situation.
The short interest in the
market, estimated at more than
100000 shares, should provide
the impetus for a broad upturn
upon any development of q gen.
orally cnnstr1lctiun oh q ra nkar
The Washington times., 1931-12-03
Murphy Co. Exceeds
Needs For Dividends

In a letter to stockholders OF
G. c. Murphy Co., j. s. Mack,
president, states that In excess
Of $3.50, 900, a sum representing
the company's dividends dis
bursements for the year, had
been earned as Of October 81,
last.
Mr.. Mack added that if Deem
Der sales produce in about the
usual ratio for December as
against previous months in the
same year, then the total net
profits per share Of common
stock will show q considerable
increase per share over the
profits of 1880.
The Washington times., 1931-12-03
u. S. Reports Check
M'Farna Price DrOu

The Department Of Agriculture
reports that the decline in the
general level Of farm prices, which
had been practically continuous
for more than two years, was
checked during the period between
october is and November is. The
index on November Is was II per
cent Of the 19101914 average, as
compared to SO per cent on Octo-
Der IS, month previously.
This three-point rise was the
most noticeable shown by the in.
dex since August, 1929.
The Washington times., 1931-12-03
S1.27 A POUND
FOR STEER

CHICAGO, Dec. 3 UN.S0.-
''Briarcliff Thickset," the first
Grand Champion steer to be
raised in the East in recent years,
today brought $127 per pound on
the auction block at the Inter
national Livestock Exposition.
The steer weighed LAO pounds,
making it worth $1,447.80. Aber-
CAST q Bastion, of Allentown, Pa,
were the purchasers. The owner
was Oakleigh Thorne, proprietor
of the Briarcliff Farms, Pine
Plains, N. Y.
This was the lowest price since
1928, when the Grand Champion
went at so cents q pound.
The Washington times., 1931-12-03
Iglehe0rt Reports
Record Sales Year

Sales of 1gleheart Brothers, Inc. :,
subsidiary Of General Foods Cor
poration, for the first 10 months
were ahead Of any similar period
in the company's history and the
volume for 1881 will surpass last
years sales by a substantial mar
gin, according to Austin s. Lyle
heart, vice president Of General
Foods Corporation.
The company's mills at Vincen.
mes, Ind, and GAINESVILLE, Tenn,
have been placed on a 24-hour
schedule, while the three mills at
Evansville, Ind, have been opera
tong on this schedule since 1916.
The Washington times., 1931-12-03
Cash Dividend Paid
Blu p. LOriLIard Co,

The p. Lorillard Company has
declared a quarterly dividend Of
80 cents a share on the common
stock placing the issue on a $1.20
annual basis.
This is the first cash payment
given to common stockholders
since 1926, and is largely a reflec.
ton Of the improvement in earn
ings recorded by the company in
the past few years.
The Washington times., 1931-12-03
STERLING DROP
IS DEPLORED
BY HANEY
Drag on Foreign Trade, With
other Disadvantages, Is
Seen by Economist
BY LEWIS HANEY
Director New York University Bureau
OF business Research

Of Business Research
The extremely sharp decline in
sterling exchange is the outStand.
ing recent event. It is not neces-
sarily q seriously bad develop
ment, but any way one looks at
1t, it is to be clasSed as untaVor'
able.
It means that the English
pound is worth less in cOmpari.
SON with dollars or other sound
currencies.
English Funds Drained
It means that there is less de-
mand for the transfer Of funds
to England than there Is Of
funds seeking to leave England.
This suggests uncertainty as to
the soundness Of English cur.
rency and business conditions in
England.
Such wide fluctuations in ex-
change rates are bound to hurt
foreign trade, for they add to
the risks and uncertainties Of
buyers and sellers in international
transactions.
The reasons for the decline are
not definitely known, but we can
figure them fairly well. TN
dOubtedly there has been some
rush to withdraw funds from
England.
Fear Money Initiation
Probably foreigners having bal
ances in England have with
drawn them. Probably, too. the
English themselves have found
some way to send funds out Of
the country.
There is considerable talk of
inflationary developments in Eng
land, such as an increase In cur
rency based solely on credit. Such
a development would lead people
to turn pounds into dollars or
other sound currencieS.
Evidence exists that the Bank
Of France, about q week ago,
sold a large amount Of sterling
exchange, presumably transfer.
ring this sum into dollars.
Some See Threat
Some observers think France did
this to bring pressure to bear
upon England. but no one knows.
We do know that England has
made large loans in Germany
and Austria, and that repayment
is being endangered by uncer.
taintieS affecting German SOL
vency. This condition naturally
threatens England's financial pc.
sition and causes doubt as to
the value of the pound.
Big Payments Due
OF course, this is the time Of
year when England has to make
large payments for imported raw
materials, such as cotton, and
her new tariff caused a rush Of
imports to get in ahead Of the
tariff.
These things increase the sup
ply Of exchange bills drawn on
England and tend to reduce the
price of sterling exchange.
The results Of such a drop in
sterling should be fairly clear.
The Washington times., 1931-12-03
Lou Record Is Set
For RrOkerS' Loans

New York Stock Exchange re-
ports collateral borrowings Of
members at the close Of business
November 80 amounted to $780,.
ISL ,9O8, a decrease Of $66, 1880
from a month previous and a
new low record. The total on
October 81 was $796, 268,768.
On November 90, 1880, these
loans amounted to $2,162, 249, O02.
while the record high level was
established at the end Of Septem-
Der, 1929, at $8,549.Ss3,979.
The Washington times., 1931-12-03
Smokers Declining,
N. Y. SMrDeu Shows

There will not be the ire
mendous accretion of new Smok-
ers in the future as in the past,
the new smokers being confined
largely to the oncoming genera.
ton as against the entire field
which was open ten to fifteen
years ago, according to Charles
D. Barney & Co., members Of
the New York Stock Exchange.
in their eighth annual review of
the tobacco industry.
The Washington times., 1931-12-03
Business Failures
FeLUe7' For Week

Business defaults for the week
ended November 26 numbered 395
as against 500 last week and SOP
the week before, according to
BradStreet's.
This is Is per cent lower than
the total for the same week last
year and 22.4 per cent fewer
than the preceding 1881 week.
The Washington times., 1931-12-03
Chrysler Records
Car Shipn1ent Gain

DETROIT, Dec. 3.-Shipments
of 9O,7O6 cars to Chrysler Sales
Corporation dealers in the first
II months of this year show an
increase of lot per cent over the
same period in 1880, when ship
mentS totaled 1887 cars.
Shipments Of Chrysler SKIES for
this same period this year totaled
33,467, compared with 25,059 in
first IL months Of 1890, increase
of 1913 per cent.
The Washington times., 1931-12-03
CIGARETTE OUTPUT OFF

Production of cigarettes during
October totaled 8,956,712.065 in
comparison with 10,947,57 ,646 In
the corresponding month Of 1890,
according to the internal Revenue
Bureau. Total output of cigars
for October Of this year amounted
to sos. 60S, 1876, q decrease from
$50, 4S5,934 produced in the tenth
month Of 1890.
The Washington times., 1931-12-03
Gas Net
Income SATELLITES

The consolidated statement Of
earnings and expenses of proper
ties Of Associated Gas g Electric
System, since dates Of acquisition,
for the IL months ended october
81, 1881, shows gross earnings
and other income Of 09,583, 1893.
Deductions left net earnings Of
$44,57l, 736,
The Washington times., 1931-12-03
RICHMOND CLEARINGS

Clearings Of Richmond banks
in November totaled $135. 407 1874,
compared with $193, 637 oil in No
vember, 1880. Clearings for the
first / months totaled $1,605, 092,-
1874 against $2,093, 014.228 for the
like period a year ago.
The Washington times., 1931-12-03
HIDE MARKET DECLINES

Hide future prices on the New
York hide exchange resumed q
downward trend and showed
losses of from 10 to so points dur
ing the week ended November 81,
with weakness most pronounced
in the distant months.
The Washington times., 1931-12-03
687 Listed Stocks
Decrease In Week

Index Of 687 stocks listed on the
New York Stock Exchange, as
compiled by Hamershlag, Borg &
Co., shows an average price of
$3.50 as Of the close Of Saturday,
November 2S. This compares with
an average price Of 1923 as Of
the close Of the previous week.
The Washington times., 1931-12-03
.T|DEMUST TURN
IN TIME, SAYS
SPECTATOR
Meanwhile investigators May
Sit Back and Hope to
Save Some Equities
BY THE SPECTATOR

NEW YORK, Dec. 3 u.N.s0.
Some slight consolation may be
derived by investors from the
knowledge that surely the current
run Of bad news cannot continue
The Washington times., 1931-12-03
News of Trade:
Gains Today

Low record Is set for
brokers' loans.
Chrysler car shipments
gain 10 per cent.
Record sales reported BY
Igleheart.
Failures drop 22 per cent
for week.
Murphy Company exceeds
dividend needs.
The Washington times., 1931-12-03
WASHINGTON STOCK EXCHANGE
SALES

SALES
Capital Traction Company, so
20Ha.
Potomac Electric, 51as, pfd., SO
1067s.
Lanston Monotype, 5000: SO
SO; 2@69; 2@69.
Washington Railway and Elec-
trio, pfd., 1904; 1904; 1904;
1904.
Real Estate Mortgage, pfd.. SO
061a.
Capital Traction Company. 100
2OA. ...
Amer Tel Q Tel AVS. .Iii9 .....
Am Tel Tel Gu TT IS. f. l01&l go.
Anacostia & Pot r r IS. =. so 70
Ana Pot Guar 5s...... 90 9S
G Tel OF Va 5s :.... 101 lO5
e ci.2 7 EFs sHburOa R 5 R 49,. g i
GeorGetown Gas 1st IS. hoo
ESsisSs%%asss h RIss e'Hs s::::::iS1S :
% %::SSn:ss:S g. g.: ::$.:::: ,:5 ,$;
Wash Gas 60 Series A.... .l100 Il0i
wash Gas 6s Series BE. hos Ilol
Wash Ry q Elee q ......I SS%I eeN
Miscellaneoue BoadO
s sS:3; ca! =; 1T r 52:.*::1E ~:
The Washington times., 1931-12-03
NEW YORK. DEC.

New York funds In Montreal S137.50
premium on $1,000. Montreal funds in
New York $137.5O discount on $1,000.
Imperial Valley press., 1931-04-02

Emmitt Allen the second. and Mrs.
Nuffer and Don c. Bitter. the low.
Imperial Valley press., 1931-04-02
ANNOUNCE WINNERS\
OF PIANO CONTEST

Winners of the contest sponsored
in the four grades of the Academy
of Music, and who will, as re-
ward, be taken to Los Angeles to
hear the concert given April 7 by
Ignace Paderewski, are announced as
follows
Bernice Heflin is the winner of
the first group, Pearl D. Sonoda for
the second, while in the third
group, Katherine Surface and Peg
gy Case tied for first place. A tie
also resulted in the contest in the
advanced group, Mary Mori and
Betty Surface being the yictors.
These six talented young pianists
will be the guests of Mr.. and Mrs.
Elmer A. Todd and are to be high
ly envied at the opportunity Of
hearing the great artist.
Judges were Mrs. Z. j. Hargraves,
well known organist, recently OF
San Diego; c. p. Crankshaw, mus
ical director of the Holtville high
school, and Mrs. Alfred Blaisdell
prominent piano teacher of Calex-
leo.
Imperial Valley press., 1931-04-02
ENTERTAINS FOR
SANS SOUCI CLUB

Easter lilies and sweet peas III
pastel shades decorated the rooms
of the John w. Tyler home, $50
Brighton avenue, yesterday evening
when Mrs. Tyler entertained the
Sans Souci club. These same flow
ers supplied the motif for the at
tractive appointments in keeping
with the Easter season.
Bridge was enjoyed during the
evening, Mrs. Kendall B. Perkins
winning the club prize for high
score, and Mrs. j. L. Travers, the
guest prize. Mrs. Evalyn Boman
Westerfield and Mrs. Harold Tyler
won the other club prizes. A deli
cious supper was served at the end
of the evening by Mrs. Tyler
Guests of the hostess were Mes
danes Norman E. Dupont, Herbert
Dupont of San Diego, Fred p. Nut
tall, H. w. Tyler, Sr., Dozier Daw-
son, w. c. Costello, George E. Mann,
Harmon Tyler, j. L. Travers, Miss
Nora Epler and Miss Oda Sebastian
of Los Angeles.
Cub members present were Mes
danes H. w. Tyler. Jr., Harry Hor-
ton, Kendall p Perkins, William c.
Reed, j. Keyes Mitchell, Fred P.
Nuttall, j. B. McNeece, Evalyn Bo-
man Westerfield and the hostess.
Imperial Valley press., 1931-04-02
DINNER BRIDGE is
CHARMING AFFAIR

MIR. and Mrs. Leroy Holt presided
at another charming bridge dinner
last night at the Barbbra Worth
hotel.
ated the prettily appointed dining
table at which covers were Maid for
Mr.. and Mrs. j. w. Glassf&rd, Mr.
and Mrs. Clarence E. Coma pt, Mr.
and Mrs. Allen p Nuffer, y r. and
Mrs. S. Emmitt Allen, Mr.. ar Mrs.
Howard P. Meyer, Mr. and MI 5. Don
c. Bitler. and the hosts.
Mrs. S. 'Emmitt Allen and Allen
p. Nuffer won the high score
prizes. Mrs. J. w. Glassford md 8
Imperial Valley press., 1931-04-02
MARY N0VIs TO ASSIST CHORAL
SOCIETY IN COMING CONCERT

Mary Noyis, concert cellist whoI
Is TO be featured with Edward Novis
young American tenor. on the pro-
cram TO be presented April 7, by the
imperial Valley choral society. is a
Charming and talented musician.
Before her marriage, and as Mary
Iyner OF Pasadena, she began her
professional career as q celhst when
a student at the Pasadena high
school. In her sophomore year she
was selected because of her unusual
talent and personal charm. as Gel
list soloist in a musical act which
was headlined on the Orpheum-
Keith vaudeville circuit. She left
school and for three years toured
with this musical ensemble. playing
in all the leading cities OF the coun-
Try.
Coming back to Pasadena, she
finished her high school education
and studied with one OF the best
known cellist teachers in Los An
eeles. Later she became cellist with
the Vista Del Arroyo trio and played
over the radio and before many
womer's clubs. In addition to her
trio work, Mrs. Novis has appeared
as feature soloist before a large
number OF musical clubs of the
southland.
Four years ago Mary Nevis ac-
companied her husband. Edward
Novis. to Italy and France, and
while he was establishing himself as
singer. she took advantage OF the
opportunity of studying with some
OF Europe's finest cello teachers.
The choral club feels that it is
offering a rare musical treat to I'M
perial Valley IN presenting Two sucn
distinguished artists as Mary and
Edward Novis in one concert.
Following the plan established at
the first concert OF this season, seats
will be reserved for sponsors, pa
irons and active choral club men,
ters, while those seats not used by
Imperial Valley press., 1931-04-02
NOUS FAISONS JOE
CLUB HAS MEETING

Nous FaisonS Joie club members
met last night for a delightful East
er party with Miss Aline Tanner as
hostess, assisted by Miss Syville
Berchtold, the party affair being
held at the Tanner house, 651 Com
mercial avenue.
Easter featured the decorations
and the bridge tables were attrac-
tive with their tallies appropriate
to Easter and their baskets filled
with miniature candy Easter eggs 4
Bunco was the diversion for th9
evening, Mrs. Roche Maquar wint
ming the first prize, and Miss Dor
othy Weir, the consolation. Deli
cious refreshments, which also ear
ried out the Easter motif, we're
served at the close of the evening.
During the brief business session
which opened the meeting, It was
decided to hold a public dance dur
ing the month of April and it was
also decided that the club rent
cabin at Live Oaks for the summer
months, the cabin to be used as
headquarters for the club meetings.
Those present last night we're Mrs.
Homer jenkins, Mrs. Roche Maquar
and the Misses Aline Tanner, Sy-
Vile Berchtold, Freida Schreiner,
Mildred Giles, nellie Louise Roach,
Dorothy Weir, Mildred Ehmke, Dor
othy Spear, Louise Kelly, and Esther
Ehmke, while guests we're Mrs. Pat
sy Sutton and M. Kinsey.
Imperial Valley press., 1931-04-02
MRS. H4RRIE WOOD
GfIES PROGRAM FOR
DELPHIAN SOCIETY

The Barretts of Wimpole Street
the drama which is producing such
conflicting opinions among drama
tic critics this season, and which is
one of the outstanding Broadway
productions. was read yesterday
for the Delphian society by Mrs.
Harrie o. Wood.
Dealing with the early life OF
Elizabeth Barrett and her romance
with the great poet. Robert Browr-
ing. the play is an interesting and
admirable psychological study as
we'll as q great romance The love
story of Elizabeth and Robert
Browning is well known to all ana
the author has treated their ro-
nance with delicate sympathy and
truth.
Katherine Cornell is playing Eliz-
abeth Barrett at the Empire The
atre, the play being one that she
herself has chosen for her current
vehicle. Critics have offered con-
flicting opinions as to the literary
value of the play but the majority
have hailed it as one OF the best OF
the season. Mrs. Wood did full
justice to it in her. reading which
was greatly enjoyed by The men,
bers of the local society.
The meeting yesterday was at the
home OF Mrs. F. A. Burger on Wen
sley avenue and during the business
session it was decided to ask Mrs.
w. c. Costello to lead the group
next season in the study of poetry.
Those present yesterday were
Mesdames F. A. Burger, Harrie o.
Wood, Warren F. Fox. Hugh 7. Cs-
borne, j. w. Glassford, F. D. jacobs,
E. J. Mack and Dorsey Whitelaw.
Imperial Valley press., 1931-04-02
Social Brevities

Mr.. and Mrs. r. H. Cary have as
daughters arrived in Ell Centro on
Tuesday night from their home in
Redlands. They motored down on
a pleasure trip. In company with
Mrs. Hugh Osborne. they visited
Yuma and the Imperial Irrigation
district works at Andrade. Cope Is
president inactive of the Secur-
ity First National bank of Los An
geles.
Mr.. and Mrs. r. H. Gray have as
their house guests this week Mrs.
F. p. Brockett and her daughter
Ethale, both of Los Angeles. This
evening Miss Shirley Mae Cary is
giving dinner bridge in honor of
Miss Brockett.
Mr.. and Mrs. j. H. McKim of San
Diego, pioneer valley residents, are
spending the Easter holidays in Wis
iting their children, j. L. McKim
and Mrs. Louray Mouser in Impe-
rial. and Mrs. Frederick j. Trude
OF Brawley They have a wide circle
OF friends and relatives who are de-
lighted to welcome them back to the
valley.
Many hostesses are entertaining
house guests over the Easter holi-
days, among them being Mrs. Fred
P. Nuttall who has as her guest Miss
Oda Sebastian of Los Angeles, and
Mrs. Norman E. Dupont who is en-
tertaining Mrs. Herbert Dupont and
Imogene and Katherine Dupont. all
Of San Diego.
Masaka Yukawa is entertaining
o group of friends with an hour OF
music tonight at the studio of Mrs.
Oriah Kenah. $50 Olive avenue. The
affair promises TO be most enjoyable
since she is a charming young pian-
ist.
Coast Trip - Imperial Valley
Sciots will journey to San Diego on
Wednesday afternoon for joint
ceremonial with Pyramid No. 80 dur
ing the evening. The local organi-
zation will provide candidates for
initiation during the ceremonials.