davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
TO SEEK
UTILITY RATE CUT
Pennsylvania Governor at
Last Gains Control
of Commission.
BY GEORGE E. DoYING.

After nearly 10 years Of persistent
effort, Gov. Clifford Pinchot of Penn
sylvania today is in complete control
of the States Public Service Commits
sion, and more or less drastic reductions
in public utility rates in the near future
are anticipated by those conversant
With the situation in the Keystone State.
With designations submitted by Chair
man w. D. B. Ainey and Commissioner
Emerson Collins. both of which have
been accepted. the Governor will have
four Of his own appointees on the board
of seven members. Since he began his
present term, Gov. Pinchot has appoint
ed two members to succeed former COM
missionerS whose terms had expired.
Gov. Pinchot started his effort to con-
troll the Public Service Commission
shortly after he was first elected in
1922. After assuming Office in the fol-
lowing January he undertook to remove
, James S. Benn, who was serving a 10
year term dating from 1920. This tight
was carried TO the State Supreme Court,
which held that the Governor has ex-
| appointed for another lo-year term by
I Gov Fisher shortly before the latter re-
1nquiShed Office to Gov. Pinchot in 1891.
! The Benn appointment, however. was
the subject OF bitter controversy in
the State Senate, and Mr. Benn finally
announced his retirement from the field
Gov. Pinchot then appointed Frederick
P. Gutenberg to the position. He also
appointed George w. Woodruff to sue
, coed Charles H. Young.
Having failed during the 1881 session
, OF the Legislature to secure enactment
| of bills to abolish the Public Service
Commission and TO create Fair Rate
Board" the members of which were TO
be appointed by him. Gov. Pinchot
recently filed charges against Messrs.
! Ainey and Collins in an effort to remove
hem from Office. He charged the chair
man with having received money from
public utilities and asked the other
member to quit because he has been
incapacitated by illness for 80 months.
Both men resigned shortly after hear
| tngs were to have been held upon the
governors charges. Mr.. Ainey denied
! the charges but said his age (68 years.
| and his physical condition would not
permit him to undergo the strain Of
| trial.
| 1t Is now expected there will be q
/ renewal of the effort made by Commits
sioner Woodruff last Spring TO secure
| the adoption of a resolution calling
upon the Electric Utilities in Pennsyl-
vania to reduce their domestic rates so
that the initial charge shall not exceed
cents per kilowatt hour.
| (Copyrisht. :932)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
CURB GOES HIGHER
IN ACTIVE SESSION
Sensational Rise Continues
Through Busiest Satur-
day of Year.
BY JOHN A. CRONE.

Special Dispatch to The Star.
NEW YORK, August Sin the wild
est and most active Saturday session
in more than a year, stocks on the
Curb Exchange today continued their
sensational rise.
Gains ranged from fractions to 20
points. the latter being in Quaker Oats
common, usually an inactive issue Food
shares, such as the Swift issues, Libby,
Mcneil g. Libby, Parke Davis and
National Sugar Refining of New Jersey
crowded the tape during the last Is
minutes of trading. Just previous TO
this development, Pan-American Air
ways and Montreal Light, Heat a.
Power scored new highs as movements
Of Safety Car Heating d Lighting.
among the equipment issues, Electric
Power Associates A in the utility in
vestment companies. and American Gas
& Electric and Commonwealth Edison
in public utilities attracted attention.
Standard Oil Of Indiana climbed to
new high for the year. So did
Niagara Shares Corporation B. Then
Humble Oil scared to a new peak and
Ohio Oil preferred moved ahead
E Eifai se g0nd & Share was strong
Corporation and other fayorites were
slightly higher most of the time.
Specialties and public utility prefer
red issues featured early dealings. Then
Aluminium Co. of America common ran
up more than points. Singer Manu-
featuring was up 4. Ruberoid was up
almost point American Laundry
Machinery and Parker Rust Proof raj
lied Montgomery Ward A opened up
ga points.
Meanwhile the senior public utilities
staged initial gains CT points or more.
This list included Columbia Gas Elec-
trio convertible preferred, Electric Bond
& Share SIS and IS preferreds, Inter
state Power Of Delaware per cent pre-
ferred, Pennsylvania Power g. Light 7
per cent preferred. Florida Power &
Light per cent preferred and United
Gas preferred opened up a point.
Coal stocks moved upward, notably
Glen Alden and Lehigh Coal Navi-
CATION. Brisker movements CT anthra-
cite explained these advances.
Non-ferrous metal shares, such as
copper and zinc producers. and the
electrical equipment manufacturing
companies, like Croker Wheeler, also
started forward In the motor list Stutz
pushed through It's previous peak Of the
year, and both Ford Motor Ltd, and
Ford Motor Of Canada A hardened
Deere 81 Co and other agricultural
shares Surged ahead. A. o. Smith Cor
poration drew out bids. Plymouth Oil
was the first of the miscellaneous petro-
leumS to scale to new heights for the
year. In the Standard Oil division this
honor went to Imperial OIL.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
Grain Market

CHICAGO, August (P)-New jumps
in grain values took place today as
soon as trading began. Purchasing was
given decided stimulus by fresh upOurns
in Liverpool wheat quotations and by
reports of activity by the Reconstruc-
ton Finance Corporation to strengthen
commodities. Opening * to a higher,
wheat afterward rose further. Corn
started at "a to IS advance and con-
tinued to gain.
Unusually active general buying soon
carried wheat prices up more than
d. cents a bushel to the highest point
reached for a month. Broadened pub
lie interest on the bull side was sp-
parent, and profit taking sales on ad-
vanceS were readily absorbed. Special
impetus to buying appeared to result
from Washington reports that the Ne
construction Finance Corporation could
finance pool purchases of Government
sponsored supplies, which removed I'M
certaintieS due to such holdings.
Talk was current that with the aid
of the Reconstruction Finance Corpo-
ration. which has lately been given
new power, a wheat buying pool could
purchase the Federal Farm Board
wheat holdings of approximately 80
100000 bushels Doubts expressed that
this would be done were practically
ignored end the market expanded last,
with individual trading lost sight OF.
No large concentrated orders we're eX-
ecuted either way. but the pit watched
Wall Street Developments sharply ana
was guided largely by price advances
there. Corn and oats followed wheat.
Provisions mounted with grains.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
BULLS SEND BONDS
TO HIGHER LEVELS
Market Continues Activity
Throughout Short Session
of Week End.
BY F. II. RICHARDSON.

Special Dispatch to the Star.
NEW YORK, August 6.-Bonds con-
tinued to advance today in trading as
heavy as that which has characterized
each session Of the past two weeks.
( The market opened with fractional
advances all along the line. The stock
markets sensational rise naturally
helped bonds along but the investment
market refused to get excited about it,
and the advance continued along the
same steady course that has been the
rule for more than five weeks. The rise
in commodities combined with the
gradual expansion of the administra-
tion'S plans for relief and credit ex-
tension were still the real factors be-
hind the recovery in bonds.
Important buying was apparent in
all high-grade bonds. and large-scale
variety we're obvious in the advance in
second and third grade issues
American Telephone SIS. Consolidated
Gas 5l2S, Duquesne Light 412s, New
England Telephone SIS, and other sea-
soned Investment issues were in de-
mand. Railroad bonds of the best
type, like New York Central As, Nor
folk a. Western u.s. Union Pacific first
Is, and the reliable AtchiSon general As,
gained about a point. Industrials of
the best quality such as General Motors
Acceptance IS, Standard Oil of New
Jersey IS, and Lorillard 5s, moved up
into ground in which future f1uctua-
tons will more likely be guided by
money rates rather than technical con-
ditionS of the market
United States Government bonds
were firm, rejecting the markets be-
lief that the spread between the New
York Federal Reserve Banks redis-
count rate and open market money
rates will be reduced next week. Heavy
bank purchases of Treasury IS, S1sS,
and 33ss, now legal as currency COL
lateral, we're reported
to points. Active issues were Chesa-
peake Corporation SIS, Baltimore Ohio
refunding SIS, Dodge Bros IS, Great
Northern rs, International Cement IS,
Nidvale Steel SIS, National Steel SIS, Phil
lips Petroleum 5l4S, United States Rub
Der SIS and Youngstown Sheet & Tube IS.
In the foreign department inactivity
prevailed European centers we're so
busily engaged in large dealings in
American stocks that their usual in
terest in their dollar bonds was sus-
pended. German government issues were
firm. Prime issues like British 5las,
Belgian IS and French rs were strong
in spite Of foreign exchange weakness
against the dollar.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
New York Cotton

NEW YORK, August OBJECTION
futures opened steady "a higher on
overnight buying by the trade on favor
able reports from the textile industry
and further showers in the Eastern
Belt. october, 500; December, Sis;
January, 6.27; March, 6.38; May, 653;
July, 664.
The opening demand was supplied BY
week end realizing and scattered sell
ing, but there was little pressure and
prices worked up another three points
during the early trading. Houses with
Wall Street connections were among
the buyers. There was also commission
house demand based on strength Of the
stock markets. December sold I'D to
623 and the general market showed
net gains of 6 to points at the end of
the first half hour. Liverpool cables
said Bombay straddle buying had abb
sorbed offerings there and reported an
improved demand for cotton cloth for
India and China Increased activity
was reported in the domestic market
for coarse yarn cloths yesterday with
prices f1rmer.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
CHICAGO LIVE STOCK MARKET

CHICAGO, August (P.-Cattle,
200; compared week ago, good to choice
weighty fed steers steady to strong;
supplies small; top, $40; comparable
grade light steers and long yearlings
weak to 25 lower; medium grade show
ing full discount; grassy and short-fed
steers, 25a40 lower general market very
uneven: light cattle, with light heifers
and mixed yearlings, ruled active and
heifers shared light yearling advance;
grass COWS and cutters, weak to rs
lower; fat grass cows selling at new
low for season at 2.ooa3.25 mostly; only
grain fed above 400; extreme top on
long yearlings, 925, few above 900,
light heifers, however, sold up to 800;
bulls, 10a40 lower; light COWS off most;
vealers, 100 lower.
Sheep 600; today's market NOM
inal for week ending Friday; 10 dou-
bleS from feeding station, including
81 500 direct; fat lambs, prices, after
advancing on opening day, declined
generally; most sales 25 lower than last
weeks closing; good to choice sorted
native lambs, 5.75a600; best rangers
sorted, 5.75a6.10; range throwouts to
killers, 4.25a4.50; native graSsers 3.50a
3.75; few yeaTling wethers, 40Oa4 so;
slaughter ewes, l.50a225, top ranger
lambs. $50; native lambs. SIS; handy
weight range feeding lambs, up to AGO
Hogs-Receipta 5000 head; including
1900 direct. about steady considering
quality; 18O-220 pounds 4.75a485; TOP
4.85; i70-180 pounds, ABS, pigs scarce
packing SowS, 3l5a400, compared week
ago mostly steady TO 20 lower: shippers
took 900; holdover, 900; light light
good and choice, 140-160 pounds, 4 5Oa
ATS; lightweight, 10000 pounds, 4 5Os
AS, medium weight, 2OO-25O pounds
450a485; heavyweight 250350 pounds
3.S5a4 so; packing soWs, medium anC
good, 275-50 pounds, 315a410; pigs
good and choice, lO0-l3O pounds, 3.7oS
so
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
LIVE STOCK DROPS
DURING PAST WEEK
Reversal Not Great, How
ever, and Improved Condi-
ton Is in Prospect.
BY the Associated Press.

BY the Associated Press.
The live stock market, sailing for the
port OF better farmers prices, caught
an offShore breeze this week which
blew it few points off its course
Fortunately, it was not stiff wind
and the goal was kept in sight. Better
grade fed steers and practically all
, grades scaling over 1900 pounds came
back at the close of the week, in some
instances IS cents higher. The top on
weighty steers went to 500 for 1855
| pound averages, but long yearlings and
! light steers finished barely steady.
While unevenneSs featured the mar
ket on heavy butcher hogs, the light
weights showed little change until
Thursday, when a sharp break came.
On the other hand, the fat lamb mar
ket f1uctuated widely, with buyers tend
ing to bear down.
Granted Steers Scarce.
One of the outstanding developments
of the week was the continued scarcity
OF strictly granted weighty steers and
very moderate run of highly finished
light steers and long yearlings, although
the supply usually equaled trade re-
quirements. However it took almost
strictly choice l,OOO-pound yearlings to
bring SO as the week closed.
Another bullish highlight was the
interest in well-conditioned yearlings
and MIXED offerings, 800 pounds and
under. This reflected the relative scar
city and fairly active dressed market
for carcases of $50 to $50 pounds.
The Jewish holidays which began
Wednesday tended to restrict the ship
per output. They did not interfere
with kosher killing, but influenced
kosher beef consumption.
Traders took notice of the increased
supply and uneven declines in native
and Southwestern grasSerS. They also
watched the expansion in stocker and
feeder numbers and the seasonal de-
Velopment OF scattering of common to
inferior grass steers and heiferS, which
at times became a drug on the market
Those steers brought $3.50 to So and
heifers, So to $3.50.
Hog Prices Slump.
Greater numbers of Southwestern
steers tended to slow down the market
on grassy natives and shortfeds. selling
at $3.50 and lower. On grainfeds,
whatever slowness developed was a re-
suit of the dressed markets strained
condition The fact that very few
beef tonnage relatively small.
ncaVy hugs arrived al tne market in
increased numbers late last week and
Monday with the result that prices
Slumped rs TO IS cents. Some ground
was gained Tuesday and Wednesday,
only, to be lost Thursday. Pigs and
hght-weignts were not in as bad shape
weak to Is cents lower.
The fresh pork trade carried on at an
unusually even keel but the demand
was reported slow from nearly all i'm
p0rtant centerS.
The receipts of lambs down almost
to minimum, became excessive with
the result that buyers, having paid
higher prices under protest, seized the
first opportunity to bear down. The
dressed trade continued to show weak
ness. After reaching a peak of S6.75,
the top on native lambs fell to Sc so
and So Is, the lowest point in two weeks
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
Baltimore Markets

Special Dispatch to The Star.
BALTIMORE, Md, August 6.-White
potatoes, 100 pounds, 90all0 sweet po-
tatoes, busbel, 50a1 90; vans, bushel,
5Oa75; beans. buShel, 50a9o; beets, 100,
l.0Oa2.0 90; cabbage, bushel 75a9o; car
rots 100, 100a2 90; caulifiower, crate,
It's; cucumbers, bushel, 25a7O; corn,
dozen, 12a22; elephants, hamper, ISAAC;
lettuce, crate, l.00a2 so; onions, per 100
pounds, LOCALES; lima beans, bushel,
1.00al,75; peas. bushel, 1.25a1 .65; pep
pers, hamper. 25a4o; squash, bushel. so
AGO; cantaloupes, hamper, 30a50; toma-
toes, hamper, 20a50; apples, buShel, 25a
l.25; blackberries, crate, 175a30o.
Dairy Markets.
Chickens-Young, 12a20; Leghorns,
11a14; old hens, 12a15; Leghorns, old,
loa11: roosters. Sag: ducks, iea14
pigeons, pair, 15a20.
Eggs-ReceiptS, 1908 cases; current
receipts, Halls; hennery whites, 17a2O;
Western frsts, 16; nearby firsts, Is.
Butter-Good to fancy, creamery, Tia
%; ladies, l2alS; process, 14al5 store
packed, 10.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
WHEAT EXPORTS LARGER
AT BAL TIMORE'S PORT
Special Dispatch to The Star.

Special Dispatch to The Star.
BALTIMORE, August 6.-Although
receipts of wheat on the local grain ex-
change during the past month show a
decline of over half a million bushels,
exports increased nearly 100000 BUSH
els, compared with July, 1881.
Total receipts for the month were
394,sl1 bushels, against 1,977,474 bushels
in July, 1881. while 763,7 78 bushels were
shipped, compared with $4,000 bushels
during the same period last year. Other
grains. with the exception of rye and
barley also showed decreases.
Receipts of flour for the month to-
tailed 81 1862 barrels, against 64,41l in
July, 1881, while only lot barrels were
shipped, compared with 1886 barrels
last year.
For the seven month period ending
July 80. receipts of wheat were 2,737 400
bushels, compared with 7,26O,8 BUSH
els, in the same period last year, while
exports were 3,778,7l5 bushels, against
1921 ,09S in 1881
Both receipts and shipments of flour
showed sharp declines, the former to-
falling 403,134 barrels, against SOC, 1877
barrels in 1881, while 30,1O9 barrels
were shipped, compared with 1851
@arrels in 1881.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
BALTIMORE REJECTS LOANS.

BALTIMORE, August Special
Although 200 requests for loans have
been made by citizens under the powers
granted the Federal Reserve Bank IN
the last session of Congress, none has
been found acceptable and no lean has
been granted by the Baltimore branch.
John r. Cupit, cashier, said 80 per
cent Of those seeking leans offered real
estate as security. Real estate is not
acceptable under the new act.
Mr. Cupit added that the public did
not understand the act fully. He assert
ed the bank was allowed to discount
paper for individuals. corporations and
Nartnerships tuiy when it was Endorsed
and otherwise secured to the satisfac-
ton of the Federal Reserve Bank.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
COMMODITY LOAN
UNIT TAKING FORM
Special Committee at Work
on Details to Furnish Cred
its for Purchases.
BY the Associated Press.

BY the Associated Press.
NEW YORK, August 6.-Plans for
the formation of the Government-spon-
sired corporation to furnish credits for
commodity purchases were being rapidly
carried toward completion today, it was
learned in banking circles
A special committee of the New York
Clearing House was said to be working
out the details, and formal announce
ment of the corporations launching was
expected soon.
The loan provisions. designed to aid
manufacturers in the purchase of
needed raw materials, will be liberal, it
was intimated in banking quarters,
though it was averred by those behind
the plan that the corporation will oper-
ate along conservative banking lines,
requiring adequate collateral from
eligible borrowers
1t is also insisted by proponents of
the plan that there will be no "bally
hooing' to lift commodity prices; that
the sole aim OF the movement is to
make available credit facilities, which
are abundant in New York, to less ia
Vorably situated districts.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
WILL ISSUE CURRENCY.

NEW YORK, August 6 P).-The Ma
tional City Bank has decided to avail
itself of the new Federal home loan
bank act and issue its own currency
against United States Government
bonds carrying the circulated privilege,
it was reported in banking circles.
The bank, it is understood, will issue
its new currency at the rate of about
100000 week for an indefinite
period. This is the second important
national bank in New York to take ad-
vantage of the expanded circulation
privilege. the Chase National having
announced its intention of doing so last
week.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
RECEIVERS NAMED.

BALTIMORE. August 6-Leon A.
Townsend and Charles J. Symington
were appointed equity receivers for the
Gould Coupler Co., by Judge w. CAL
win Chestnut, in the Federal Court here
Wednesday.
The receivers were appointed on ap-
plication of Founders Supplies, Inc, Of
Buffalo, N. Y, creditor for 1881, and
HyneS Sparks, owner of 200 shares of
class A stock. 1t was alleged that the
company is unable to meet interest
charges and other current obligations,
and that receivership action was re-
CURED to prevent serious impairment
OF the companys working capital and
to conserve assets.
In granting the petition the court
gave permission for the receivers to con-
tinue the business.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
DIVIDEND PASSED.

BALTIMORE, August (SpeciaD -
The Crown Cork & Seal Co. has taken
no action on the common dividend of
80 cents share due at this time The
regular quarterly dividend of 81 cents
a share on the preferred, however. was
declared, payable September Is to hold
ers OF record August 81.
For the six months ended June 80 the
company earned 7 cents a share on the
common, as compared with $l.l8 a
snare IN the like period of last year.
In the June quarter earnings were "a
cents share, as compared with a net
loss OF 1892 in the prior quarter and
with s5 cents in the June quarter last
year,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
GAINS OFFSET FAILURE.

NEW YORK, August tP0.-The
sharp advance in public utilities securi-
ties in the past few weeks has. according
to brokers, done much to dispel unfa-
Vorable sentiment resulting from tht
collapse of the insult structure Specu-
1ative buying in some of the leading
common stocks in this group is said by
brokers TO have been inspired by tht
theory that the industrial power loac
would be lifted substantially with thu
advent Of an Autumn pickup in bust
ness
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
TIME MONEY EASIER.

Time money was easier ana eat
money unchanged during tie week Ca
ing July 30, as compared with the week
before. The figures follow:
Time-Week ending July 80, 1888 per
cent; previous week, $50 per cent; same
week last year, $50 per cent.
Call-Week ending July 80, 2 per
cent; previous week, per cent same
week last year, $50.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
SHOE PRODUCTION HOLDS UP.

The Commerce Departments Shoe
Division reports a continuing increase
In shoe factory production, resulting
from buying movement which began
In early July. Some factories, it was
said, are operating at IS to 80 per cent
of full capacity. A marked increase in
employment in number of shoe cen
tiers during the last week was reported
by the division, as was a shortage of
skilled workers
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
CHICAGO POTATO MARKET.

CHICAGO, August 6 (Pl.-Potatoes,
"a; on track, 1874; total United States
shipments, 800; slightly weaker, sup
plies, moderate; trading, moderate,
Cobblers, Missouri, United States No: J.
75aS5; Kansas, combination grace, 7Oa
rs; few, 80; Nebraska, United States
No. /, mostly 90; Minnesota, early
Ohios, United States No. !, and parity
graded, 75a80.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
WATCH AUGUST SALES.

NEW YORK, August (P-Regis-
tration of merchandise buyers in the
4ocal market in the past week showed
In increase over the number listed in
the previous week but remained slight
ly under the total for the same period
m year ago, according TO estimates.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
WOoLWoRTH SALES OFF.

NEW YORK, August 6 (P.-July
sales OF F. w. Woolworth Co. totaled
S18146 377, a decrease of 1919 per cent
from year ago. Volume for the first
seven months Of 1882 shows a drop of
98 per cent from 1881.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-06
CHICAGO STOCK MARKET

CHICAGO. August (P.-Following
Is the complete official list of transac-
tiona in stocks on the Chicago Stock
Exchange today:
Gala