davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-01-04
Commodity Price
Trends of W eek
BY III. ". McGILL,
ID II. 4Fs 4FAt tOIAIkIs
Editor McGill Commodity Service, Inc.

EQlLOr MCGlI IOulIuONILS 0e4 F1SS' AAAS'
AUBURNDALE, Mass, January 4
[P)-The closing week of 1891 brings
a new low point in the downward trend
of commodity prices.
Out of IA individual groups, five
were lower, six increased and three re-
manned the same. The index for the
month of December will also show a
comparisons, December 81, against De-
cember /, Sc declined and only SO in
creased.
Industrial prices showed resistance
against the downward trend and
showed a fractional increase over the
previous week. The groups influencing
this slight firming in prices were fuels,
paint materials, fine and coarse textiles,
and vegetable oils. Building materials,
hides and leather and non-ferrouS
metals were lower and chemicals, fer
rous metals and paper remained the
same. In recent months industrial
prices have shown outstanding ability
to resist the generally downward trend.
From January to December, industrial
prices declined IT per cent. During the
first six months of the year the decline
was 13 per cent, and from June to De-
cember only per cent. During the
past year industrial activity has de-
clined to point more than 30 per cent
below normal and many major indus
tries are running at rate Of capacity
that is near the irreducible minimum
Security prices have been drastically
Debated, and commodity prices are at
a point comparable with the year 1911.
Fundamental conditions would indicate
that rock bottom has been reached and
that the next broad movement can only
be upward, even though this may de-
yelop slowly.
Agricultural prices resumed their
downward trend after two weeks of re-
SiStance to bearish pressure, and have
reached a new low point. Unlike indus
trial prices, this group has shown an
almost continuous downward trend
From January of this year to October,
agricultural prices declined 81 per cent
A SldeWiSe movement was in evidence
during October. and good rally oc-
CURED in November, which lasted only
three weeks. Since that time the de-
cline has been renewed, and the index
now stands % per cent below the first
Of the year. .-...
Live stock prices during the past
week showed the greatest decline of any
OF the groups. From January to June
live stock prices declined % per cent.
During the latter part of June and early
July a rally took place, and then a side
wise movement was in evidence until
the first week of September, when a de-
cline again was renewed. At the pres
ent time the index for this group stands
at 43 per cent below the first of the
year.
Most important price changes in the
McGill weekly commodity price induces
l926=l0O:
Evening star., 1932-01-04
Grain Market

By the Associated Press
CHICAGO, January 4-Influenced by
weakness of securities and of cotton,
the grain markets suffered early down.
turns today. Moisture in drought regions
of domestic wheat territory, both Vim
ter and Spring, gave added impetus to
sellers
Opening A-34 lower, wheat afterward
sagged further. Corn started ls-12 Of
and continued to point downward
At about l cent a buShel setback,
wheat received better buying support
owing more or less to an estimate from
a trade authority that feeding Of wheat
to live stock in the United States during
the last six months had totalsd as
much as 129000,000 bushels. He figured
domestic farm stocks December 81
however, as 35,00O0OO bushels, and
supplies in mills and elevators as So
100000 bushels. A bulliSh construction
was placed on announcement that
wheat af1oat for European countries
amounted to 29,816,000 bushels, against
81, 104, 900 week ago and 27,272 900 at
this time last year.
Japanese requirements of United
States wheat this season were forecast
as under those of last season. 1t was
shown that in two months Japan's
wheat imports from this country totaled
considerably below the figures for the
same period in the two preceding years,
whereas Australia had gained, and that
significant quantities of new crop
Australian wheat have been contracted
for by Japan. Bears laid stress also
on word that Germany's acreage Of
Winter wheat and of rye had both been
augmented. Corn and oats sympathized
with wheat weakness.
Provisions were responsive to hog
market declines.
Evening star., 1932-01-04
Brokers' Comment

NEW YORK, January 4.-Brokerage
opinion, as indicated by today's Stock
Exchange commission house advices
continued to take a cautious stand, in
the main. Nevertheless. the markets
resistance to further pressure last week
was regarded as encouraging. Com
mentS follow:
Charles D Barney & Co.-From a
long-range viewpoint there appears to
be little reason for increasing margin
commitments until the stock market
has remained in a dull trading range
for a period of time and then started
a gradual advance, based, obviously, on
fundamental rather than technical rae
tors. We feel certain that the action
of the market itself will indicate more
definitely the time to buy for the long
pull than will any attempt to analyze
the vast complex of fundamental, m
dustrial and financial factors. Whlle
we agree with the view that 1882 Will
in all probability mark the transltlon
from extreme depression to the oegln-
ming of gradual recovery, we 90 not
believe it is possible to guess when the
turn will come in the stock market.
We would, therefore, keep long-range
speculative IlOIulIlSS dC ~ POA S|A4' Va
less.
Thomson g. McKinnon.-The mar
ket rather nervously awaits important
corporate dividend meetings this week.
notably, Santa Fe and Westinghouse
However. 1t cannot be said that the
market is unprepared for disappointing
news from this direction. While the
market evidences no positive trend, we
are encouraged over the action OF bondS.
Jackson Bros, Boesel & Counted
States Steel and Bethlehem Steel are
scheduled to meet for dividend acton
in the last week of January Omission
of Bethlehems dividend is generally
expected. and 1t would cause no sur
prise if United States Steels common
dividend were discontinued temporarily,
PAYMENT of dividends out of surplus
was continued by many corporations
during 1881, but this policy does not
tend to sustain market values.
w. ]. Wollman & Co.-Those having
money have opportunities now for buy
ing securities at ridiculous prices, but
they must be patient and not expect
the recovery to come too rapidly.
Hornblower g. Weeks-A policy OF
caution at this time dictates that def
mite evidence of the completion OF the
downward movement should be awaited
before being in hurry to buy STOCKS
Evening star., 1932-01-04

constant gain by British automobile
manufacturers in markets formerly
monopolized by America. 1t is obvious
that, as time goes on, countries with
appreciated currencies will be obliged
to trade together rather than with the
lew remaining countries whose ex-
changes are either at or above gold
parity.
Relief must, however, not be expected
from abandonment of the gold standard
put rather from an effort to help those
countries which are of the gold stand
ard to return TO 1t.
Prediction of Gains.
A gain Of so per cent in sales of the
Seiberling Rubber Co. is predicted for
1882 by F. A. seiberling, president
This should mean approximately
Sl2,ooo,ooo as compared with only about
$8Oo0,000 for the past year.
Mr.. Seiherling also asserted his belief
in the rubber industry being in the van
when the business revival comes. The
future Of price movements, he continues
Will depend upon what steps the English
or the Dutch, or both, may take in re-
gard TO curtailment of production of
crude rubber. A restriction of output
should send the market upward and
bring a beneficial increase in tire prices
Detation has not been completed, in
the opinion Of Albert H. Morill, presi-
dent Of the Kroger Grocery and Baking
Co. 1t is, however, not unlikely, he con-
tlnues, that business might possibly
stage partial recovery without COM
plete defation. He feels that confidence
IN 1inaE iS 10 oh
OF confidence Is decreasing This, Mr.
Morill holds is particularly true of
financial conditions in the Middle West
Normal Development.
Swift and Co. expects to go ahead
with its normal development plans in
1872, according to G. F. Swift president.
Meat prices, he continues, have practi-
caIly reached bottom, and the current
/ year should be good one for the in
uustry. His own company, Mr., Swift
| points out, is in an exceedingly strong
nnancial position, with operating costs
substantially reduced to meet the new
level of prices.
According to an exhaustive study pre-
! pared by Dr. Julius SZigeti, ministerial
councillor in the Royal Hungarian Gen.
tral Bureau Of Statistics, Hungary s
favorable balance of international pay
ments-that is, the excess of all credits
over all expenses, visible and invisible
amounted for 1880 TO 71,405,6l pengoe,
or about Sl20oOD00.
Exclusive of loans contracted abroad
ana proceeds from the sale Of Hunga-
ran assets to foreigners, the balance was
auVerse TO the extent Of more than
S4I'oO0,000. Loans totaled somewhat
less than SOS, 900, 900, Of which the ma
J0r portion represented long and me-
dlum term loans.
The above figures indicate conclusive
The country's dependence upon
foreign borrowing. Failure TO secure
ioanS last year is doubtless responsible
tor The one-year moratorium on the ex-
ternal obligations Of Hungarian debtors.
'Copyright, 1882 by the North American
NswspaRsr Alliance, Incl
Evening star., 1932-01-04
BY DIR. MAX WINKLER.
special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, January 4.-The first
trading day of the new year opened
under rather unfavorable auspices. The
closing of two banking institutions with
aggregate deposits Of about s50,000, 900
was probably the main cause for the
downward trend on Saturday. The de-
cline was helped materially by the an
nounced receivership OF American
Commonwealth, a $200,000,000 utility
holding company, headed by Frank 7.
HulSwlt of Grand Rapids, Mich.
1t would be very helpful If state
ment could be issued by competent
authorities, which would once and for
all clean up the many peculiar notions
entertained by the bulk OF the Ameri-
can public in regard to the status OF
the National Credit Corporation;
There is no doubt that depositors in
the CITY Bank and Trust C6 of Hart
ford. Conn. which closed its doors on
Saturday, or in the Peoples State
Bank Of Charleston, S. c., which was
also forced TO shut down together with
its A branches in Al towns, would like
to know the reasons why the corpora
ton does not function. What has be-
come of the promises and the many
reassuring statements made at the time
the organization was launched?
Swing of Pendulum.
1t was not so very long ago wher
! economists of the new school scoted a.
those who hesitated to purchase com
mon shares, which sold for more thar
10 times reported earnings. Such a
! conception was regarded as too ortho,
| dox and as distinctly backward.
At the present time, the pendulum
has swung too far in the other direc.
ton. Even sound financial institutions
are quoted in the market at prices
equal to or appreciably below 10 timel
shown profits. A notable instance ii
the stock OF the Chemical Bank anc
Trust Co. of New York. Earnings fo
| 1881 are estimated at Sa,44 a share, al
increase of well over per cent, a!
compared with the previous years.
| showing
The decline in General Motors to &
new low level was attributed in Wal
Street circles to belated liquidation
rather than fear over untavorable &C
ton at the forthcoming dividend meet
ing several weeks hence
1t is of course, possible that the set
back may have been helped by th'
Evening star., 1932-01-04
St. Louis Bank Closed.

ST, LOUIS, January P).-The
vandeventer National Bank of St
Louis. with capital stock Of S250000 and
deposits of approximately $1,250,000
was ordered closed by its board OF di-
rectors early today and an assistant
national bank examiner was asked to
take charge.
There has been a slow run on the
bank for several weeks, the directors
said.
w. C. johnson s president of the
institution.
Evening star., 1932-01-04
FOOD COMPANY MERGER
BECOMES EFFECTIVE
By the Associated Press.

BY the Associated Press
' NEW YORK, January 4.-Merger Of
Best Foods, Incorporated, a division of
Gold Dust Corporation, and Richard
Hellman, Incorporated, a division Of
General Foods Corporation, has been
announced.
G. M. Chester, jr,, and Randolph Cat
lin, presidents of General Foods and
Gold Dust, respectively, in joint state
ment said the brands of both COM
panies will retain their identities, but
the operations of the two distributing
systems will be Joined" The new COM
pany Will be known as the Best Foods,
Incorporated,
Evening star., 1932-01-04
- Dividend Meetings.

NEW YORK, January (P.-SeV-
eral important dividend meetings are
scheduled for this week. There Is par
ticular interest in the santa re kali
road meeting TO be held tomorrow.
Other meetings include Westingnouse
Electric, Nash Motors, American ollelts
Cerro de Pasco Copper.
Evening star., 1932-01-04
FEDERAL RESERVE RATIO.
BY the Associated Press,

BY the Associated Press -
The ratio of total reserves OF Ine -
central banks TO deposits ana feoera.
reserve note liabilities combined showed
an ABRUPT drop during the week ended
December 90 The ratio for comparable
periods follows, as reported by the Re
serve BOARD; week ended December 80
6l.9 Der cent; previous week, 644 pei
cent; same week last year. 1877 pei
cent
Evening star., 1932-01-04
Volume Of Trading Loss.

Foiume Oh Trading Loss.
Market activity of these shares in ths
r-the-counter houses here in 1881
such houses are connected by wire serv-
ice with Boston, Hartford, Philadelphia,
Chicago, Pittsburgh and Detroit-was
about one-half that of 1880 or a daily
average of $4,000 shares. and about one.
third of the daily volume in late 1929.
1t is estimated that 95 per cent OF
the selling Of bank stocks in 1881 came
from individuals. The only large-scale
public participation on the buying side
came in the Spring. Bank shares do
not have the cushions" but are pro-
vided by short sales, the only continual
buying support coming from the in
stitutions themselves. Such market pur-
chaSeS ultimately were taken either by
the institutions officers or by their
customers.
(Copyright, 1922
Evening star., 1932-01-04
New York Cotton
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, January 4.-Opening
cotton prices today were to IS points
lower in heavy liquidation from COM
mission houses and an absence of
foreign demand. The new troubles in
India were construed as bearish for
American cotton export prospects.
January opened at 6.26, off 7; March,
635, off 8; May, 6.46, off 10; July 665,
of IL; October, SOL, off IL, and De-
cember, 704, off l3.
Evening star., 1932-01-04
Expansion Program Planned.

NEW YORK, January 4 [P).-John E.
Zimmerman, president of the United
Gas Improvement Co., announced today
that U. G. I. subsidiaries would spend
more than $4,000, coo in 1882 for plant
additions and improvements.
Evening star., 1932-01-04
November Lead Output.

NEW YORK, January (P).-Amer-
lean Bureau of Metal Statistics esti-
mates November world output of re-
fined lead at lls,sss short tons, against
ll7,ss4 in October and 1A4,S3S In Mo-
Vemher, 1884
Evening star., 1932-01-04
EARNINGS REPORTED

NEW YORK, January (P).-Per
share earnings of corporations report
ing last week included:
az
Evening star., 1932-01-04
Everybody's
Business

DoUn Trend Starting NeU
Year Mainly Caused BY
Failure of TtOo Banks.
Credit, CORPORATION Slov.
Evening star., 1932-01-04
RIGHTS----ExPIRE
Wire Direct to The Star Office.

A. = Com Edison. ~ IA Is is
~ Pub SVc n ii Feb Pa 2l3 2I2 pa
Dividend rates in dollars based last quarterly of
nus payment sex dividend tPartly Plus 4%
Payable in cash or stock Payable in stock Adjustment
dividend plus Sc stock Plus Plus
stock. Plus 2% IN stock Plus IoE in Plus 3qs in
stock. as Paid regular
Evening star., 1932-04-10

Mary Pickford tries the role
of waitress. Photo shows her
waiting on" two celebrities Of
the theater. William Gillette
QefO and Daniel Frohman. at
the Actors Dinner Club in
Nau Work Wide World Photos
Evening star., 1932-04-10

I Spills were numerous
in the Grand National.
Here is one entry COM
ing to grief in front of
the packed grandstand
at Aintree at the ap-
proach to an open ditch.
g Associ2 ted Pres Pfoto.
Evening star., 1932-04-10

The supreme test of horsefesh. This jump
proved the Waterloo of more than one entry
in the grueling Grand National Steeplechase
at Aintree, England. Forbra, rank outsider
(No 3O) has taken the lead which he held to
the finish to score one of the biggest upsets in
the history of the classic. Wide World Photos
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1932-03-17

]. w Kirkbride has been i'll from
a bad cold, and several others are
also suffering with colds, etc.
Emery Wells has installed a
radio in his store department.
Everett GLADDEN. who has been
employed as a brakeman and con-
ductor on the railway the last 10
years, was here Tuesday. Mr..
GLADDEN. has headquarters in Co.
lumbus. He reports work very dull
1t would not be fair and just to
apply the gas tax for any other pur-
pose outside of the roads. The mo-
torists are willing to pay the tax
for building and repairing the roads
for motors. There are lot of by
roads to build yet, in order to get
farmers out of mud holes, to the
main roads, and after all roads are
built there will be lots of repair
work to keep them up. Let not the
good work be hindered for good
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1932-03-17
StOckpOrt

Mrs. Lizzie Dover of McConnels-
Vile is the guest of her daughter,
Mrs. r. A. Durbin.
Jesse Coleman of near Pennsville
spent Saturday with his parents.
Kathryn and Byron Hook spent
Saturday with their grandparents
Mr.. and Mrs. Henry Hook.
Mr.. and Mrs. Floyd Henery OF
| Columbus spent the week end with
their parents.
Patty Durbin spent the week end
with her grandmother, Mrs. Stella
Durbin, at McConnelsville.
Mr.. and Mrs. Dale Scott returned
to their home at Congress, after
visit with their parents, here.
Dewey Holder and Fred James
spent Tuesday and Wednesday in
Braddock, Pa, on business.
Robert Durbin spent Friday with
Mr.. and Mrs. Richard McElhiney
in Columbus.
Miss Lillian Wallace who has
been convalescing for several weeks,
at the home of her sister, Mrs. Dale
Scott at Congress, returned home
Friday, and was able to resume her
duties as teacher, Tuesday, on the
east side
Chas. Hook is at his home in Nc
Connelsville for an indefinite time.
Lee Mott of Philo spent Wednes-
day with his father, Van Mott.
Miss Genevieve Creighton spent
Saturday in McConnelsville.
Kenneth Dulaney and Douglas
Ball spent the week end with the
formers sister, Miss Alice, of Cleve-
land. Mrs. Emily Delaney and Sis
ter, Mrs. Lucy Perry, returned
home with them, after attending
the flower show there, and visit
with her son, Frank Dulaney, and
family, of Detroit, Mich.
Mr.. and Mrs. G. r. Bishop were
Sunday guests Of his parents on
Newton Ridge.
Born to Mr.. and Mrs. Oscar Han
lin Of near Stockport, Saturday,
10h pound boy, named Harold
Chalmer Mother and baby are do
ing nicely.
Alfred Hass of Chesterhill recent
ly visited with Dayton Bachelor.
Tilghman Kinney and daughter
Ethel are spending a week with rel
atives at Reading, Mass. They
spent the week end sightseeing at
Washington, d. c., enroute to
Massachusetts.
Mrs. Jane Allard and daughter
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1932-03-17
NeeIyyilIe Grange. No. 900

Neelyville grange, No. 299, will
meet in regular session, Friday ev-
ening, March 25. The following
Song, by grange; roll call, history
of your farm or an heirloom; bring
the original land grant for your
farm if you have it; song, the
Strong family; history of Hopewell
NJ E. church, T. T. Fisher; reading,
Marie Ralph; history of Neelyville
grange, and something about it's
charter members, Howard McCor-
mick; surprise, the Vernon Spencer
family; contest, Jessie Harmon
Xxx.
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1932-03-17

roads. Use the gas tax where it is
intended.
Mrs. Serepta GLADDEN. has been
suffering from influenza several
days.
Old March does not follow the
fashion of the rest of the winter
months, and has turned the tune to
cold zero weather, but it's time is
short in giving real taste of win
ter-one good consolation.
Mrs. Bert Williams, as her manv
friends will like to know, is improv-
ing now.
A commissary for the miners has
been started at Glouster, and they
were here last week gathering up
corn, wheat, potatoes, eggs and
other articles, showing papers of
their business. All who can should
donate for the poor miners.
William Wright, an aged citizen,
near Rosseau, who is in poor health,
is at the home OF his son, Bert
Wright in Malta.
Elmer Carter was called to Co
lumbus. Jean Carter a granddaugh-
ter, is very i'll.
One of Mahlon Parsons horses
died last week.
Church service at East Branch
Church of Christ each Sunday at
10:45. All are cordially invited to
attend.
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1932-03-17
Todds vi. II. Church

Sunday school at 10 a. m. Preach-
ing services at 7:30 p. m.---C. w.
Cartwright, pastor.
Mrs. Harvey Campbell is at Wa
tertown helping care for her moth
er, Mrs. Isaac Metcalf, who is ser
iously i'll.
Ed Henery and r. b. Pierpoint
were twin city callers, Friday.
Mr.. and Mrs VI. L. Johnson are
moving from the Barkhurst farm to
the Gus Carr farm.
Death of Mrs. Green
Mrs. Lenore Green, widow of
Isaac Green. passed away at her
home near Tabor church, at 3
o'clock Sunday morning. She was
so years old. The funeral was hello
at l O'Clock Tuesday. She leaves
two sons-Clark OF Todds neighbor-
hood, and Harry of Stockport route.
Mrs. Lucille Cheadle spent from
Friday until Sunday afternoon at
McConnelsville, with her daughter,
Mrs. Lincoln Taylor.
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1932-03-17

Miss Mabel had for their guests
Saturday. Mr.. and Mrs. A. r.
Adrean Of McConnelsville; Mr.. and
Mrs. Jack Carr and Ray Allard and
family, all of Crooksville.
Glen Mott Very III
Glen, Mott, son Of Van Mott. son
ior in high school here, was taken
by ambulance Thursday to Ne
mortal hospital, Marietta He is in
an extremely critical condition, SUI
fering with complications which
developed from influenza At this
writing he is reported as beinS
slightly improved.
Van Mott and children Harry,
Mona and Velma, Mrs. Ray Wallace
and +. S Davidson spent Saturday
in Marietta with Glen Mott
Miss Leota Grubb, Fl. ~, Of
GAINESVILLE, spent the past week with
her parents, Mr.. and Mrs. Benton
Grubb.
There will be a regular meeting
Of Webb Chapter, No 337, o. II. S /.
March II, at their chapter room
Mary Ellis. w. NJ; Besse Mercer,
Sec'y.
Mr.. and Mrs. A. }. Power Of CO.
shocton spent the week end with
Mrs. Mary Justice.
The little folks Of the NJ. p.
church will give an Easter program
following Sunday school Easter
morning, and in the evening a
pageant, "The Easter Vision" will
be given by the Older classes.
p. o. Brannon has returned from
visit with relatives at GAINESVILLE
Praise For Our Teachers
Prof. Frank S. Davidson, Of our
high school, deserves a word OF
praise for the keen interest he has
always taken in the pupils of our
school. Certainly he deserves a lot
Of credit in every way, and we ali
appreciate the many kind deeds he
has done in our midst here. Much
credit is also due him for the ap-
pearance Of the lawn around the
school buildings. In fact you do not