davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-01-26
BANK OF ENGLAND
TO REPAY CREDITS
Thirty Million Pounds Will Be Paid
to Lenders at New York
and Paris.
81 the Associated Press.

BY the Associated Press.
LONDON, January 26.-The Bank of
England announced last night that 1t
will complete repayment at maturity
on February l Of f300o0,0 900 in credits
granted to it by the Federal Reserve
Bank of New York and the Bank of
France.
This means that the whole Of the
ESQ, ZOO, 900 granted last August In equal
portions by the Federal Reserve and
the Bank Of France will have been re-
paid at the beginning Of next month.
The credits were raised to buttresS
the pound sterling and originally were
to have expired on last october 81. At
the end of October, however, the bank
announced that it had arranged 10 pay
f20, ,0o0, 900 and that the lending banks
had extended the balance to the equiva-
lent of s15,000,000 each for three
months
The announcement at that time said,
"In part provision of the balance, re-
payment of which was proposed by the
Bank Of England, the sale of f15,000,-
600 in gold bars has been arranged
Last nights announcement said re-
payment would not involve any re-
duction of the banks gold reserve. It
was understood in financial circles that
the Bank of England has not found
1t necessary to ask that facilities be
granted for further drawings either in
New York or in Paris.
Evening star., 1932-01-26
STEEL DIRECTORS
CONVEN|NG TODAY
Financial World Watches
KeenIy for Action on
Common Dividend.
HY the Assnciated Press

BY the Associated Press.
NEW YORK, January 26.-The eyes
Of the world Of finance we're riveted
upon suite of unpretentious, some
what old-fashioned offices, overlooking
Trinity churchyard, at Broadway and
Rector streets, today.
Here the directors Of the United
States Steel Corporation were called to
convene at 2:30 pm. to receive the
quorterly earnings figures and to de-
eide upon the quarterly dividend.
What Wall Street wondered was:
Would this august directorate, headed
by J. P. Morgan, chairman, consider
the business outlook sufficiently prom
Using to justify payment Of another
quarterly disbursement of 81 share
to common stockholders?
Or, in view of the big deficit incurred
by the worlds largest steel maker in
1891, would they feel 1t prudent to omit
the payment altogether, as they did
in 1915? Or would they compromise
on reduced payment, possibly so
cents?
Another matter which interested
Wall Street and the steel trade keenly
was the possibility that a successor to
James A. Farrell as president might be
announced. Mr. Farrell. feeling that
the burdens of being operating head of
this gigantic corporation should be
shifted to younger shoulders, will retire
April 10.
The Finance Committee, headed by
Myron c.. Taylor, was to meet in ad-
vance of the gathering Of the full di-
rectorate, to make its recommendations.
The Steel Corporation, in keeping
with its rigid practice in these matters,
had allowed no intimation to leak out
from of1cial sources as to what action
might be taken on the dividend.
Expectation in usually well informed
quarters was that the directors would
be guided by the outlook for the steel
industry for 1882, rather than by the
Improbable operations Of 1881. Steel
production has shown gradual expan-
sion since the turn of the year, but
the industry Is still working at less
than one-third of capacity.
One theory held was that the corpo-
ration will continue to pay common
dividends so long as it maintains q
balance Of cash or equivalent Of as
large as 100000, 900. Current cash
balances are believed adequate 70 per-
nit another payment Of 81 share on
the approximate 8,70o, 900 shares, and
maintain the s100,000,000 minimum
At the end of 1880 the corporation had
cash or equivalent of $Is7, ,000, 600. Wall
Street estimates, based on operations
for the first nine months, indicate that
deficit, after payment of common
and preferred dividends, of around
50,000,ooo was incurred for 1881.
Evening star., 1932-01-26
NEW ENGLAND SHOWS
ELECTRICAL INCREASE

Special Dispatch to The Star.
BOSTON January 26.-Northern New
England still continues to show an in
crease in electrical consumption over
last year December rejecting an in
crease OF l.26 per cent with the full
years gain 1877 per cent. This is shown
by figures prepared by the New England
Public Service Co. part Of the Middle
West Utilities System
Aggressive efforts of the company to
stimulate the domestic use of energy
aided somewhat in offsetting slackened
Industrial consumption. December Of
this year showed gain of per cent
in residential output over last year.
Conditions generally are irregular
Manufacturers regard reports and in
quiries from retail trade which reflect
low inventory as a favorable omen
toward new buying just as soon as a
definite trend upward is assured.
Evening star., 1932-01-26
Everybody's
Business
Imm ediate End of Bank
Failures Seen Result of
Reconstruction Finance
CORPORATION.
BY DIR. MAX WINKLER.

Special Dispatch TO The Star.
NEW YORK, January 26 (N.AN.A).
The Reconstruction Finance Corpora
ton is expected to commence function
ing at once. since no difficulties are an
ticipated in connection with meeting
initial requirements through the iSSu-
ance Of Treasury notes amounting to
$3.50, 100000. OF this total S60,000,000
will be used to take care Of maturing
Treasury bills, the remaining s290,000,-
600 being placed at the disposal Of the
corporation.
One OF the immediate results, and
probably the most significant, should be
the reduction and eventual elimination
of bank failures, which seem to have
been the main cause of liquidation.
Despite the activities of the National
Credit Corporation, banks which closed
their doors during the first three weeks
in January numbered 240, with de-
posits totaling S120,000,000 1t is hoped
and expected that the new enterprise
will be more successful.
The death of Paul Moritz Warburg
chairman of the Bank of Manhattan
Trust Co.. removes from the field Of
finance one Of the worlds leading au-
thoritieS on banking and currency
problems Moreover, Mr.. Warburg's S
death comes at time when his serv-
Ices could have been used to the dis
tinct advantage Of the Nation, for
whose sound currency system he had
done SO much.
Mr. Warburg was thoroughly con-
versant with all aspects OF international
finance, and was to a very large ex
tent responsible for the creation of the
Federal Reserve System, which, despite
many shortcomings, may safely be said
TO have contributed to the rise and the
maintenance Of the prestige of the
United States dollar.
1t is in a measure regrettable that
the conference convened at Chicago to
settle the railway labor question should
be drawn out unnecessarily. A final
settlement Is expected in the very near
! future.
The union leaders seem prepared to
| recommend acceptance of a one-year
wage cut Of 10 per cent as matter of
eXpediency, even though they deny the
| justice of such reduction. 1t is some
what difficult to comprehend the view
| held by labor, especially when every
other branch of the transportation syS-
TEN has been obliged to accept reduc-
tfonS amounting to substantially more
than the proposed 10 per cent cut in
wages.
Although developments in the Far
East are not regarded as having any
| important bearing upon the economic
and financial situation in the United
States and elsewhere, the likelihood of
| increased international friction over the
/ Manchurian situation cannot be viewed
with complete indifference.
| While uncertainty in the securities
markets may not be sscribed entirely
| TO the Far Eastern complications, it is
not impossible that they are at least a
| contrihutory factor. 1t will be interest
| ing to learn of the Japanese attitude
| in connection with the forthcoming
| disarmament conference.
With hxed charges for 1881 covered
only about one-thtrd. the New York,
Evening star., 1932-01-26
BY CHARLES r. SPEARE.
.s.i.,n,.n.tob tn The Star

Special Dispatch to The star
NEW YORK. January 26.--It is OF
interest that the first important appli-
cation to the Reconstructive Finance
Corporation for relief comes from a
railroad in receivership-the wabash,
which went into bankruptcy about
three months ago
The receivers for this carrier are
asking for a loan of $l8,500,000. They
would expect to repay Il in three years,
which may suggest that they expect the
road to be reorganized in that period
and placed on d basis where it can
take care Of its obligations. The loan
requested Is to meet commitments due
during 1882, Of which the largest is
bank loan Of ss,T50,oo negotiated last
year.
Loans Outstanding.
In this connection it may be pointed
out that it is the existence of loans of
similar character by the carriers which
have been responsible in large part for
the apparent discrepancy between the
total of $405000,000 in maturities,
which the railroad presidents have
stated fall due this year, and the
amount of 181,000,000 which the rail-
road unions in their reply of last Sat-
urday accept as accurate. There are
known to be large loans standing
against a considerable number of car
riers who were compelled to go to the
banks to finance their requirements
when the bond market was closed to
them. There are other differences In
the figures of the railroad presidents
and the railroad unions that are sub
ject to satisfactory adjustment If
closely analyzed.
In making loans to applicants the
Reconstruction Corporation takes such
collateral as may be offered. This goes
into its portfolio, where much of it will
be frozen" for an indefinite period.
The security which the wabash offers
the Reconstruction Corporation for its
loan includes both liquid and unliquid
collateral For instance, there are about
5000 shares of Lehigh Valley Rail-
road common stock. This was the
stock %rchased by the Wabash some
years ago when the Pennsylvania Rail-
road was attempting to bring the
Evening star., 1932-01-26
SIAMESE INTERESTED
IN AMERICAN PRODUCTS
BY the Associated Press.

BY the Associated Press.
The Commerce Department has been
advised the recent visit of the King of
Siam to this country has kindled
Sianese interest in American products.
The event was labeled as one of the
most outstanding of the year from an
economic standpoint
Plans for the creation of depart
ment of commercial intelligence, entail
ing longtime program for the de-
velopment of agriculture in Siam, was
likewise stimulated by the visit, the ad-
vice said.
Although Slams foreign trade de-
clined drastically in 1881 following q
similar drop in the last half of 1880,
much of the surplus overhanging the
markets of the country at the begin
ming of the year was reported as liqui-
dated, and the general position now was
held fairly good"
Evening star., 1932-01-26
ARLINGTON N-FAIRFAX
RAILWAY EARNINGS UP
Net Income for 1881 Sets New
High Mark, DR.. J. Parmelee
Says in Report.
Special Dispatch to The Star.

Special Dispatch to The Star.
CLARENDON, Va, January 26.-De-
spite many handicaps the net income
of the Arlington Fairfax Railway Co.
for the year 1881 reached a new high
mark, according to report of President
Julius Parmelee to the annual meeting
of the stockholders here yesterday.
Earnings Of the company for the year
are given as ss,447s9, as compared
with So, ,405.17 for the year 1880.
The good showing made by the COM
pany the report states, is primarily
due to the exercise of the greatest
economy and efficiency of operation on
the part of the management
Continuing, the report states: 1.-The
operating revenues In 1881 were eff
fected by two unfavorable factors.
First, the prevailing business depres-
sion, which reduced travel on cars, par
ticularly on the part of those who
normally use the service for shopping
or recreational purposes and second,
obstacles in the way of efficient opera
ton through the terminal area in
Washington, especially after the Fed
eral Government began to tear down
the building in the area and to exca-
vate around and under our tracks.
This was aggravated by road changes
at the Virginia end of the Highway
Bridge, in connection with widening Of
U. S. Route No. l and the development
of the new boulevard to Mount Yer
non. These changes required shifting
of tracks and greatly hampered opera
tions. Under all of these circum-
stances, your board of directors feels
that the company made an excellent
showing"
Directors were elected as follows: P.
E. Dewey, Mrs. K. H. Echols, Howard
B. Fields, DR.. J. B. Gould, w. r. Gray,
Charles T. Jesse, Ashton c. Jones,
Harris Levy, Julius Parmelee, Carroll
C. Shreve, DR.. Frank t. Stone, Dr.. r.
M. Talbot, B. M Smith and r. Walton
Moore. Officers will be elected by the
directors at the February meeting.
Evening star., 1932-01-26
Gold Coverage Improves.

BERLIN January 26 P.-The gold
coverage Of the Reichsbank was report
ed today as improved eight -tenths of l
per cent today, to 264, in spite of loss
OF 14,39s,0 900 marks in gold and foreign
exchange. Note circulation had con-
tracted approximately 1852 900 marks
and customers bills were reduced 213,-
000, 900 marks.
Evening star., 1932-01-26
New York Cotton

Special Dispatch to The Star.
NEW YORK, January 26.-Opening
cotton prices today were to 5 points
higher, Trading was in moderate vol
ume Foreign demand was small, but
trade buying was fairly brisk and offer
ings from commission houses were in
fair amount.
Opening prices were: March, 6.70, up
2; May, $50, up s. July, 7.04, up Q;
october, 7.29, up A. December, 7.44, up
3, and January, TAB, up l.
Evening star., 1932-01-26
PURCHASES OF TOBACCO
FROM SUMATRA DROP
BY the Associated Press.

The United States is fading as a
customer for Sumatra tobacco.
In 1880, latest year for which sta
tistics are available, our purchases Of
the crop amounted to 297G 566 pounds
the smallest quantity absorbed bv this
country during the last II years,
During the years 1919 to 1928 in
elusive, the United States bought an
average of l8 per cent Of the annual
crops, this figure dropping to IA per
cent during the next five years.
the tobacco grown in Sumatra is
sold by public auction held in the
Netherlands.
Evening star., 1932-01-26
PARIS BOURsE PRICES.

PARIS. January 26 P).-Three per
cent rentes, 10 francs 10 centimes.
Five per cent loan, l0l francs 65 CEN
times. o,,l
csntirnes The dollar was quoted at IS
francs 4lA centimes.
Evening star., 1932-01-26

Dumferline, Scotland, is offering in
ducements to Continental silk manu-
facturers to establish factories there.
Evening star., 1932-01-26
ire Direct to The Star OMce.

AZ u Com Edison Feb L.. % IL IA Ia 13s
5 Ia. Pub N II Feb l8 IN IN Ia 1hs
Dividend dollars based last auartsrls Of ss
dividend. Psry tPus 81 in stock
Payable in stock. sAdustnent
Plw g. in stock Plus 10 In
stock n IA Plus s+ in
stock nP n
Evening star., 1932-01-26

with fixed charges for 1881 covered
only about one-thtrd. the New York,
Evening star., 1932-01-26
BONDS.

tcopyrisht 1889, Standard statistics Co J
White Bluffs spokesman. [volume] (White Bluffs, Wash.) 1907-1938, 1932-10-06
Pioneer Family Holds
Interesting Reunion

The Grange hall at Kennewick High
lands was the scene of happy gath
ering last Saturday evening when Mr.
and Mrs NJ v. Heberlein entertained
large group of friends and relatives
in honor of the forty-eighth wedding
anniversary of Mrs. Heberleins par
ents, Mr. and Mrs. G. r. Johnson, ST.,
and the twentieth anniversary of the
double wedding of Mr.. and Mrs. Ernest
Meeker of Cold Greek and the Heber-
leins themselves Mr.. and Mrs. john
son, who in the early days made Their
home in White Bluffs, are now resi-
dents of Yakima Present both at the
party Saturday evening and at the
big family dinner served at the Heber-
lein home the following day, were Mr..
and Mrs. Johnson, ST., Mr.. and Mrs.
Charles r. johnson, Jr., and family,
and Mrs. Sylvia Wommack and two
children, of Yakima; Mr.. and Mrs. L..
A. Codding and family of White Bluffs;
Mr. and Mrs. Heberlein and family,
and Mr.. and Mrs. Meeker and family.
White Bluffs spokesman. [volume] (White Bluffs, Wash.) 1907-1938, 1932-10-06
Day Instead of Night
Train Service Now

A new train schedule on this branch
of the Milwaukee went into effect
Tuesday The incoming train from Bev-
erly now arrives in White Bluffs at
AS a. M and passes through here
on the return trip to the main line
at 100 p. M, trains being operated
daily except Sunday
Under the night schedule, in effect
since last spring, close connections
were made at Beverly with east and
westbound main line passenger trains
which afforded excellent mail and pas
senger service as we'll as for local
freight shipments. Since the apple
movement began, however, Local Agent
r. r. Woods says complaints have
been received that under that sched-
ule eastbound fruit cars were being
delayed a day, and the new schedule
was put into effect to satisfy those
shippers making the complaints
The regular eastbound daily freight
train on the main line goes through
Beverly between and 4 o'clock in
the afternoon, and cars of apples
from this valley for Eastern markets
going out of here on the night train
would lay over in Beverly until the
next afternoon. Under the schedule
just put into effect, the cars roll out
of Beverly the same day they are
billed out of White Bluffs.
In order to give somewhat better
mail and passenger service, Mr.. Woods
says he will make an effort to have
the incoming train from Beverly arrive
in White Bluffs at $50 a. M and leave
for the return to the main line at
about 2:30 p. m. This would bring the
morning mail in about hours earlier
and permit the dispatch of rural letters
on the same day they are mailed.
White Bluffs spokesman. [volume] (White Bluffs, Wash.) 1907-1938, 1932-10-06
Band TO Give Carnival
Dance October %

The Band members are looking for
ward to their big Carnival Dance Oc-
tober 2eth, the Saturday before Hal
lowe'en. This dance is to be one OF
the big events Of the fall season. 1t
will be held at the Hanford Commun-
ity Hall. The band will give an an
niversary concert the last of the month
at the high school auditorium, the
date to be announced later. November
End will be just one year since the
band was organized. This concert will
be free and the band is very anxious
to have every one attend. The Junior
Band will make it's first appearance
at this concert. 1t was organized June
9th, this year, and has membership
of fourteen.
White Bluffs spokesman. [volume] (White Bluffs, Wash.) 1907-1938, 1932-10-06
Federal Money Soon
Available for Farmers

Information has just been received
giving some of the details of the or
ganization of the Regional Agricul-
tural Credit Corporation being organ
lied in Spokane This corporation is to
have paid-up capital Of not less than
k$3,0qO,O00 to be subscribed for by the
Reconstruction Finance Corporation
This corporation is authorized and en-
powered to make loans or advance to
farmers and stockmen to be used for
agricultural purposes, including crop
production or for the raising, breeding,
fattening, or marketing of livestock.
Loans shall be made having period
Of three years, and it may be posi-
BILE where necessary to extend these
loans to a maximum of years.
The directors for this corporation at
Spokane have been named and the
manager has been selected. Further
detailed information as to method of
procedure in securing loans will un-
doubtedly be made available in the
near future.
White Bluffs spokesman. [volume] (White Bluffs, Wash.) 1907-1938, 1932-10-06
Strange Indian Sign
Arouses Curiosity

Olaf Strandwold, Benton county SUI
perintendent of schools, was visitor
in White Bluffs and Hanford today
While here he interviewed some of the
pioneer residents of the valley in an
attempt to get information as to the
origin and meaning Of large circle
near the top of one of the Rattlesnake
hills above the gas wells.
Lower valley residents have long
been interested in the circle, which can
be seen for many miles, but no one
knows anything about it's history. Last
week Mr.. Strandwold, with H. C. Fish,
professor of history in the state normal
school at Ellensburg, climbed the steep
hill to discover what information, study
at close range would yield.
Although the circle from a distance
looks as if made of stone, investiga-
ton proved that not to be so. The
vegetation had been cut away and the
soil is SO dry that new vegetation has
not grown. Not far from the circle are
springs and it is possible, the two men
thought, that the symbol is an Indian
water sign.
The circles diameter is $50 feet Mr..
Strandwold said, and the band is six
or seven feet wide. He plans to inter-
view others in the county who may be
able to throw light on it's meaning.
White Bluffs spokesman. [volume] (White Bluffs, Wash.) 1907-1938, 1932-10-06
Coleman Home Scene
Of Pretty Wedding

At quiet wedding service at the
home of Mr.. and Mrs Cecil G. Cole
man, Saturday morning October l,
their daughter, Garrett, became the
bride of Elmer Larsen, son of Mr.. and
Mrs. j. w. Larsen, Rev. H. A. Noyes
officiating. The ceremony was witnessed
only by immediate members of the
two families.
The living rooms were beautifully
decorated with autumn leaves and
flowers. The wedding party stood under
a floral archway of leaves and vines
alternated with clusters of pink and
white roses, while bower of green
ferns and Michaelmas daisies made a
lovely background.
The bride was lovely in a she'll pink
satin dress with tight fitting bodice.
The skirt had several rows of rufhes,
reaching to the floor, an artistic bow
across the back of the bodice being
lined with baby blue silk. Her only
ornaments were pair of crystal beads
and a dainty rosebud. She carried a
bouquet of pale pink asters pink snap
dragons and White Heart of Pearl blue
delphiniums, with bahy's breath, tied
with pink tulla and baby ribbon. She
was given III marriage by her father,
upon whose arm she entered the room.
Russell Blair acted as oest man.
Miss Lillian Larsen as bridesmaid
wore long pink georgette dress and
carried bouquet of orchid and white
asters and baby's breath.
Pearl Larsen was flower girl, in a
dainty blue organdie dress She carried
pink basket of rose petals.
Lesion Coleman, as ring bearer, car
ried the ring on a pink and white o.
candle pillow.
Mendelsohnn's wedding march was
played by Mrs. Moves, who also sang
II Love You Truly"
After the ceremony the brides cake
was cut and served with ice cream
and coffee
Mr.. and Mrs. Larsen left at once
by auto for weeks honeymoon trip
to the Coast, planning to make stops
in Olympia and Seattle.