davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-04-16
ATTEMPTS OF CORPORATIONS
TOSUPPORT STOCKS ARE COSTLY
Records Show Equities Have Continued
Declines, Despite Removal of Large
Blocks From Market

erH of last year at an average cost of
slightly above SPA a share At present
it is quoted under SO a share. An
ether owns 301 900 shares at an aver
age cost of above $50 a share. with the
current market off two-thirds from the
purchase price. In only one case has
there been an advance in the price, and
this of nominal amount.
With seven major reactions in the
market since September, 1929 the
policy of scale buying" on the decline.
which has been adopted by so many in
dividual investors as well as inStitu-
tional and corporation buyers. has
proven costly. While there have been
substantial rallies following five of the
seven declines, the majority of buyers
have not taken advantage Of them. in
asmuch as their purchases were made
in anticipation of a prolonged upward
price movement. The history of the
past two and one-half years records
thousands of instances of fortunes lost
in buying on breaks that seemed to
be the signal for the end of the decline,
only to be followed by subsequent re-
actions which wiped out even the larg-
est margins and financially crippled
those who had made cash investments.
Foreign Bonds.
During the long decline in the mar
ket for foreign bonds there was a
great deal of criticism of the unwilI-
lngneSs of issuing houses to support
the securities which they had spon-
sored. Their position was similar to
that Of underwriters of American rail-
road and public utility junior mort
cages and debentures, whose shrinkage
equaled that in dollar obligations The
argument of the banker was that his
resources did not permit him to hold
the bag for those who we're dumping
out bonds; that if he maintained this
policy he would soon become bank
rupt One Of the international bankers
VINO appeared before the Senate COM
mlttee last Winter. recited his effort to
support some Of the European loans
Tor which he felt a responsibility and
the necessity for soon abandoning this
program.
(COpyrieht l932O
Evening star., 1932-04-16
FEDERAL RESERVE BANK
CREDIT REVEALS GAIN
BY the Associated Press

BY the Associated Press.
The daily average volume of Federal
Reserve Bank credit outstanding during
the week ending April 13 was reported
by the Federal Reserve banks as
Sl,G29, 100000, an increase of S29, 9,000,- =
600 compared with the preceding week
and of S709, 100000 compared with the
corresponding week in 1881.
On April l3 total Reserve bank credit
amounted to 81 .686 900, 900, an increase
OF S87,000,000 for the week. This in
crease corresponds with gains of S69.-
100000 in member bank reserve bal
ances and S1l,000,000 in unexpended
capital funds, non-member deposits.
etc, and decreases of S16O00,000 in
monetary gold stock and S26,000,00O in
Treasury currency adjusted 1t was
offset N part by a decrease of $35, ,O00,-
0eO in money in circulation.
Holdings of discounted bills increased
S4,0OO,000 at the Federal Reserve Bank
OF Cleveland and declined $4,000 900 at
New York, S3,000000 at Richmond and
$6,000,000 at all Federal Reserve banks
combined. The systems holdings of
bills bought in open market declined
S6,0000G0 Holdings of United States
bonds increased S3,O0O,000, of Treasury
notes $l,00000O and of Treasury GER
tflcates and bills, S96,000,000.
Evening star., 1932-04-16
STOCKS IRREGULAR
At SHORT SESSION
Prices Show Hardening Tend
ency After Early Rally
Induces Selling.
BY GEORGE T. HUGHES.
Special Dispatch to The star

opttldA D4SpdJCn 10 ne star
NEW YORK, April I6.-Neither the
early advance nor the subsequent re-
action, both of them moderate. which
mace up today's week end stock mar
ket, carried conviction.
Stocks opened higher, but soon ran
INTO offerings and half way through
the session declines we're in the ma
Jorlty. The selling. however, did not
look like real liquidation, nor did vol
ume increase on the setback, and there
after the list hardened.
Ihe great sustaining influence in the
snare market was the pronounced
strength in bonds. In the face of the
buying Of senior securities, attempts
to depress prices by professionals made
little headWay. There were two or
three weak spots but the only impor-
tant one was Auburn Auto. which once
popular medium of speculation for the
rise sold of under $40 a snare and to
a new low. The explanation was its
disappointing earnings statement.
At the start The rails advanced under
the leadership CT Atchison and Union
Pacific, but all the gains were lost be-
lore the close. Peoples Gas and Detroit
Edison were up in the first hour and
they held more of their advance.
Among the low-priced utilities Ameri-
can Power q Light was strong in re-
sponse to its showing of Sl68 a share
on the common for the IL months end
ing February % last. At the market
this IS low price-earnings ratio.
Coca Cola, American Can. Allied
Chemical and International Business
Machines reacted, but were never really
weak and met support on the decline.
American Telephone. at a range of over
points, most of the time lower, was
still well above its minimum.
The action of the market was dis
appointing to those who expected
Thursdays and Fridays rally to carry
through, but was equally disappointing
to those who were confident that the
downward movement was to be re-
Sumed. An encouraging feature was the
better demand for preferred stocks.
which were strong in sympathy with
bonds. Volume was low for these times.
Among the better acting stocks was
Standard Brands, which, although it
gained only fractionally, looked as if
1t we're under accumulation. The food
stocks generally we're steady. with
something of a rally in Drug, Inc, on
unofficial reports that earnings for the
first quarter covered dividend require
mentS.
Evening star., 1932-04-16
AVIATION TRADE GAINS
IN VARIOUS COUNTRIES
BY the Associa ted Press.

BY the Associated Press.
Aviation is making strides in all
parts of the world.
Government trade attaches report
that the japanese Air Transportation
Co. is prepared to operate between
Mukden and Harbin, in Manchuria,
three times a week
From London comes the report that
the British air ministry has placed or
ders for number of high-speed mail
planes equipped to pick up or drop
mail bags while in flight. Flying clubs
there increased nearly 400 last year to
a total of 1l,700 persons.
Reports of Switzerland said substan-
tial gains were reported for 1881 in
commercial airline traffic within and
to that country.
And Havana, Cuba, reported that in
addition to regular service between
Havana and the Isle of Pines, a new
Sunday service has been inaugurated
between Havana and Nueva Corona.
Evening star., 1932-04-16
LUMBER ORDERS EXCEED
OUTPUT DURING WEEK

By The Associated Press
NEW YORK, April 16.-With produc-
tion of lumber at about half the vol
ume of year ago, orders and ship
ments continue to exceed the output.
but by smaller margin than recently,
the National Lumber Manufacturers
Association reports. For the week end
ed April 9 orders we're per cent and
shipments % per cent in excess of the
cut of 118,872,000 feet.
Evening star., 1932-04-16
Special Dispatch to The Star.


NEW YORK, April 16.-A con-
scientious effort on the part of the
managementS of a number of Ameri-
can corporations to support their
securities during a period of falling
markets has resulted in the eating
away of cash resources and promises to
be a factor in the future dividend
policies of some of these companies.
This program was regarded at the
time it was put into practice as of
advantage to the stockholding bodies
OF corporations, as well as a permanent
gain for the financial structure of the
buying concern. Realizing that the
market values were we'll below book
values and anticipating an improve
ment in earnings. directors of corpora
tiOns voted to take considerable blocks
Of their stock out of the market and
put them in their treasures. That in
most instances. they bought too soon
and depended too much on an euuali-
zation between actual worth and market
quotation is apparent from the SEQUEL
in a range of prices today from 25 to
so per cent under that at which the
securities were bought.
23-POint Decline.
Most Of these transactions occurred
in 1880 and during the several major
declines in 1881. At each period it
looked as though stocks had finally
reached bottom and that any accumu-
lation at the levels then prevailing
would result in a future substantial
appreciation. Unfortunately this did
not occur. An analysis of corporation
statements indicates that in a group of
over 40 companies the average price of
the holdings of their own stocks in 1881
was around $40 a share. while today it
has been reduced to about SIT share.
In one instance the depreciation in
the market value of stock held in the
Treasury and purchased in the open
market, amounts to over $500, ,00O in
another to s4.500,000 and in a third to
about S2,500,000 In addition to this
shrinkage, there has been a loss in in
come as dividends have been reduced
or omitted. One corporation held about
ago mn chorpc nf -
Evening star., 1932-04-16
New Firm Incorporated,

BALTIMORE, April Is (speciaD -
Herbert S. Ward and Robert H, Nc
Neil Of Washington and Robert H.
Winn of Chevy Chase, Md, have in
corporated the Montrose Land Co., Inc.
OF Chevy Chase. The company has a
capital stock of S25,000 and under the
charter is authorized to deal in stocks
and bonds.
Evening star., 1932-04-16
Factory to Be Moved,

STAUNTON. Va, April Is (SpeciaD
The WayneSboro unit of the General
Electric Co. will be moved to Bridge
port, Conn, according to an announce
ment made last night. Packing of
machinery and other equipment has
already begun.
The General Electric Co. recentlv
purchased the holdings of the Edison
General Electric & Appliance Co.. which
two years ago had purchased the
Waynesboro plant from the Virginia
Public Service Co. 1t is the original
plant OF the 10th Stove Co.. which
until recent years was one of the prin-
clpal industries of Waynesboro.
Evening star., 1932-04-16
Electric Refrigeration.

NEW YORK, April IS (P,.-Dis-
tributors of electric refrigerators ex-
press the opinion that sales volume will
be stimulated by the price reductions
announced recently by leading manu-
tacturers. Both General Electric and
Westinghouse have lowered prices from
$40 to $40 per unit.
Evening star., 1932-04-16
Dry Goods Sales Off.

NEW YORK, April 16 Cp-Business
in wholesale dry goods markets fell TO
an extremely low level in the past week.
according to reports in jobbing circles
Initial activity on Fail goods has been
completed and business on Spring items
IS being retarded because of the un-
favorable weather.
Evening star., 1932-04-16
INTEREST RATES.

By The Associated Press.
Money averages remained UNCHANGED
during the week ended April as the
trend was calculated by the Commerce
Department. In the table that follows
the average rate for both classes of
funds is given for comparable periods
at leading centers:
Evening star., 1932-04-16
U. S. TREASURY BALANCE.
By the Associated Press.

Treasury receipts for April IA were
S4,034, 1852; expenditures, SIG, ,743,-
649.75; balance, $500 622,2 2,2l725; GUS
toms duties for IA days OF April, $10,-
125,75617.
Evening star., 1932-04-16

DVicend the
payments based halfyearly
'Ex-dvdend trading than 100 shares
extra Plus 4T Paid this
eFayaoe in cash I Plus So in stock Plus AZ
STOCK Fus 81 special preferred stock Plus Sc
Paid last yesr-no n Plus So
TAI lnsstock
Evening star., 1932-04-16

Practically all Latin American coun-
tries have increased postal rates this
year.
Evening star., 1932-04-16

First Mortgage Loans
Lowest Rates Of Interest and Commission
Thomas J. Fisher & Company, Inc.
Evening star., 1932-04-16
80 Years With Gas Firm.

80 Years With Gas Firm.
On his fiftieth anniversary as an en-
ploye of the Washington Gas Light Co.,
Thomas L. Connor, GA, credit manager,
was yesterday presented with a gold
watch on behalf of the company by
George B. Fraser, vice president. Presl-
dent George A. G. Wood who was t.
make the presentation, was unable to
he present because of illness.
Mr.. Connor went to work yesterday
morning to find a purse of $50, pre-
sented by Charles P. Balsam, the di
rector of sales, from his fellow workers,
a huge cake with so candles and
basket Of so roses.
Mr.. Connor has been with the local
utility since April Is, 1882, and is still
an active member of the company.
Insurance Men Nominated.
The following members of the Dis
trlct Of Columbia Life Underwriters
Association were placed in nomination
yesterday as candidates for election to
the directorate of the association at its
May meeting. Three of the six are to
be elected TO succeed three directors
whose terms expire this year. Thomas
Morgan, jr., Mutual Life; Russell P
Freeman, Prudential; Horace Winter
travellers, Eugene Adams, Continental
Assurance; Carl Smith Dow, Northwest
ern Mutual; Herbert Mclean, Proyident
Mutual
Members approved a resolution Of the
board raising dues $3.50 for 1882, effec-
tive July l, and So each year thereafter
Future regularly called luncheons will
TO free to members, however. Yester-
days luncheon meeting, held in the
roof garden of the Washington Hotel
was one OF the largest in the history OF
the association.
Building Association Elects.
Reelection of all officers of the Cit
1zens EQUITABLE Building Association of
Georgetown was announced yesterday
following tlIe annual meeting. They
are Thomas J. Stanton. president: ::
1saac B. Nordlinger, vice president:
Harold w. Burnside. secretary; Harry
/. Selby treasurer; Mrs. Irene B.
ArendeS, assistant secretary.
Directors reelected were Isaac Birch.
J. M. Burns. Patrick f. Carr. John
Faoley Doyle. J. Leo Kolb. Il. E. Layton,
George A. Scheeie.
Evening star., 1932-04-16
Building Association Elects.
NEW YORK BANK STOCKS

NEW YORK, April is (P).-Over-the-
counter market.
BANKS
Evening star., 1932-04-16

~ 63. Zonite Prod Corp 90
Evening star., 1932-04-16

lSA ga Illinois Central. -.
l9s - Indian Iotor Cycle.
3S% 23h Indust Rayon t4)....
39l4 l9s4 lngersoll Rand (3). g.
8 Ala ms ShstDeDa62 Nc.
14}s 5ts Interboro Rap Trans
rs Az INT Agriculture pf.
III SoM Int Bus Machine(n6
Ia "a Int Combustion. -.
2l' 45a Int Combustion pf. i.
Evening star., 1932-04-16

= Yellow Truck. .
Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1932-04-28

farm.
Mrs. Carl Statistical was taken 10
the hospital last week. Her mother,
Mrs. William Carlsey, is staying
with the children
Mildred Brown and Dorothy Blair
have been sick with the flu the past
week.
Mrs. Brown and sons Milton and
Vern were Raymond shoppers Fri
day.
Mr.. Evenson and son Milton were
Raymond and Plentywood callers,
Saturday
Mr.. and Mrs. Leo Hiesler and chill
dren called at the Harry Holland
home Sunday.
Waldo Crosson, who has been sick
for some time, was taken to the
Plentywood hospital Saturday.
Several from around here attended
the ball game at the Wankle place
Sunday. The game was played by
the members of the Y. C. l.
Ruth Holland spent Saturday ev-
ening with Adeline Evenson-
Mr.. and Mrs. P. II. Necklos moved
to their farm north of Raymond last
week.
Jim Later made q business trip
over east Monday.
Edna Walken spent Sunday at
her home.
Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1932-04-28
EAST ~cOALRIDCE
Edgar L SyveKud, Correspondents


MrS~ Tie boe n Mrs Andre~
Ian! e afternoon callers mt tne
Mar1ntEs Jensen home to see the new
baby on Sunday
Martin Morken, Andrew Dahl AMI
Everett Meiby were to Antelope ca
Tuesday for loads o cracked whezf
distributed there They nade up ono
tas for several ~neaEhboFs around DC
as to save the expense OF everyone
making the trip
Neis Sorenson and Janus JorEzn-
sen We're callers ron the k2cans
Valley ~neighboThood on Thursday 1t
Andrew Dahls-
On Sunday afternoon and evening
the Ole Sather family OF Grenora,
the Dune McKInnon faznaly, HENRY
Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1932-04-28
LEAVITT BILL WOULD
ALLOW EXTRA TWO YEARS
TO SUBMIT FINAL PROOF

Washington, d. C.. April 28.-Ap-
prevail Of the house of representatives
has just been given Congressman
Scott Leavsttis bill Ito extend the
time within which homesteaders may
submit final proof in cases where
they are unable to do SO within the
time required by law, because Of
weather conditions or the general
economic situation.
Uuder the provisions Of the Leavitt
measure a homesteader who is re-
qnred to submit final proof under
existing law between July 1, 1881,
and December 81, 1888. and is unable
to do so because of the weather or
the general economic situation may,
upon showing that it would be 4
hardship for him to submit such
proof, receive an extension of as
much as two years,
The General Land Office has been
asked by Congressman Lavitt to
withhold any adverse action in these
cases until his bill is finally enacted,
at which time the extensions can be
granted. It is estimated by the
Commissioner OF the General Land
Office that 5000 homesteaders, a
good share Of whom are in Montana,
will benefit by passage Of this legis-
lation.
The bill now goes to the Senate
where it is expected early and favor
able action will be taken.
Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1932-04-28

The recent rain and snox has
greatly improved the growing con
dIti0n in our vicinity and the early
seeded fields are beginning 70 turn
green
Ed Lee and son, Adoiph were bus
mess callers al the county seat On
Monday
Mrs Peter Juul and son Harry
motored TO Pfentywood Saturday.
Mr.. and Mrs Clarence Precise left
last week for Shelby where Mr.. Pre-
else win be employed
Mrs Fred Lee and daughter. En-
were visitors at the John Eggrn
home last Sunday afternoon
Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1932-04-28

whezt IA Reserve Saturday.
Mrs. Frd Pauken and children
Ms Clarence Myers and children
MIS- Lon Myers and son motored to
Ehe larters parental home Thursday
xaer the Helping Hand Club were
hsslalEzg a meeting A delicious lunch
waS served about $50 o'clock after
wh&rh everyone went home.
Everett and Albert MeIby and
FRED PzuIsens drove to Antelope af-
Ter saTne cracked wheat for them
selves and several neghbors Tues
day
FaAner Petersen called at the Fred
Paulsen home OF Thursday morning.
Exnm<t and Memo Hanhbur1er
were rzB1rtinx business in Grenora
Saturday
Lam Myers celebrated his birthday
Tuesday Those who attended were
Everett and Albert Meby, Mr.. and
Mrs Fred Paulsen and children and
Mrs Clarence Mycrx Ice cream and
cake Was served about ii o'clock af-
ter whkh all went home.
Several people are already making
EaxnenA
A=s Holmquist had school on Sa-
Iurday - make up for aday she lost
xtzen she had the flu She treated
the ehakAren with pineapple sauce at
rgoGn-
JOHN Ehry called ut the Marinu
Jensen horne Thursday to see his
SISTER who Is working there.
Albert Neiby w1s = Sunday after
noon Euest n Charlie Ehrys-
Henry Mztheason has been work
ing for NRk naulsen the last few
days
and Mrs Lon Myers were
VISITORS 1t John Mmphyk Sunday
afternoon
Rudolph Stephens Was q visitor at
Entl HuetM On Sunday
Mr. and Mrs Fred PauIsen and
children and Memo H1rshburger and
daughter were guests at W. Harsh
haryerz On Sunday
Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1932-04-28
c H E R
EDNA Lee, Correspondent

Miss Luella Abenroth is now help
ing Mrs. Martin Holten with the
homework.
Mr.. and Mrs. Oscar Storaasli Of
Plentywood spent Friday night with
Mrs. Storaasli's parents, Mr. and
Mr.. William Leader.
Herman and Elmer Lee were call
ers at the Ed Lee home Friday at
ternoon.
Mrs. r. A.. Palutski was an Archer
caller last Monday afternoon.
Miss Frances Olson attended the
dance at Archer Saturday night
Miss Emma Lee was a week end
guest with her cousins, Edna, Gladys
and Selma Lee.
A dance was given by the Archer
baseball team last Saturday night
a small crowd was present due to
the bad weather.
Mrs. Theodore F1akne is now able
10 be up and around again after sew
eral weeks illness.
Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1932-04-28
VIE w
Irma Hoffelt, Correspondent

The friends of Miss Della Henke
gave her a farewell party, at the
home of her brothers. An enjoyable
evening was spent and a delicious
lunch was served at midnight. Miss
Henke left Saturday for Minneapolis
where she will work during the sum-
mer-
Miss -Rogne and Miss Olsen mo-
tored to Plentywood and Outlook,
Saturday, and returned Sunday.
Miss Ella Lieffring was an over
night guest of Miss Trina Hoffelt
last Tuesday.
Misses Peterson and Scott visited
Miss Olson, Tuesday evening April 10.
Henry Lieffring and son Jerome
and daughter Ella motored to Willis
ton Monday, where they purchased a
new tractor.
Herman Peterson and Ed Dahl
strom, while bringing home a load
of seed potatoes, from Medicine Lake,
April 10, had the misfortune to tip
their truck. Mr.. Peterson received
minor bruises, but otherwise no n
WIS hurt
If you see a green streak with a
big cloud of dust behind it, going
down the road, don't get excited for
its only Harris Hendreckson deliver
ing gas
Ella Lieffring and Irma Hoffelt
visited at the View Hill school last
Wednesday.
Honey Hanson has been assisting
Erwin Hendrickson with spring work.
Arthur Lipscomb called at the
Ed Smith home Tuesday, April 10.
Albert, Erwin, Cigar and Gladys
Hendrickson were Sunday evening
callers at the Gust Dahbtrom home
The school board of Dist. IL held
its meeting at the View Hill school
Saturday evening April 16.
Last week Erwin Hendrckson had
the misfortune of injuring his knee,
80 he is limping around with a very
stiff leg.
Mrs. Mike Hoff and son Edward
visited at the John Hoffelt home
Saturday night while Mike attended
the school meeting.
Ed Smith transacted business in
Medicine Lake, Tuesday, April 10.
Mr.. and Mrs. Ole Jensen and fam
e Sunday visitors at the Jens
home.
Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1932-04-28
WOLF
mrs B. Davenport, Correspondent

Mr.. and Mrs. Severson and Mr..
and Mrs. Dan Campbell were visit
ors at MI. and Mrs. Jasper Phelps
Sunday afternoon.
Rev. Bot conducted services at
the Wanso school Sunday afternoon.
1t was the first time he had been
out this spring and a nice sized
crowd turned out.
MI. and Mrs. ]. M. Burke attend
ed church in F1axville Sunday morn
ing
MI. and Mrs. P. A. Rolls visited
at Burton Davenports Sunday ev-
eninG.
The Red Cross garden seeds were
given out this last week to the Red
Cross patrons for which they should
be very glad to get, hoping we can
all have a good garden this year.
Everyone seems to be enjoying
this wonderful rain we have been
getting since Thursday.
The Wolf Greek Club met with
Mrs Cy Ulrich Thursday afternoon.
The next meeting will be at Mrs. J.
Albers in RedEtone. at this time Mrs.
King will give q demonstration. The
meeting starts at 10 o'clock a. m.
p A.. Rolls and Burton Davenport
were Redstone callers Friday.
Those who were transacting bus
ines in Redstone Saturday were E..
E Sheridan, Jane Cowan, II. H.
Callahan, Burton Davenport, A M.
HAgan, FL. b. French Dan Campbell
and Mr.. and Mrs. Zeb Garneau and
daughters
Vim McDougal was a caller at
Burton Davenpdrts Tuesday after
noon
Dan Campbell and H. B. French
hauled out a load of Red Cross seed
potatoes for the Red Cross patrons
Tuesday evening.
!. Albert Hachman has been helping
Jaspera Philips this past week.