davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-01-29
BANK OF FRANCE HAS INCREASED
GOLD STOCKS BY $780, 900 900
Additions During the Last Twelve Months
Have Raised Total Holdings to Ap-
proximately Three Billion Dollars.

bankers in having balances abroad
which outweigh those of large stock
of gold in their central banks. 1t Is
believed that France will be disposed
to keep stable balance here IN con-
nection with her international credit
operations. AS she IS gradually paying
off the dollar loans issued some years
ago and constantly buying up in the
market her government, provincial,
municipal and corporation bonds, the
amount required to cover the dollar
debt service Is continually diminishing
It is estimated that less than so per
cent of the outstanding French dollar
loans is now held by American in
VeStorS.
A study Of the gold holdings of for
eign countries shows that during 1881
the gold stocks in the banks of Den
mark and Sweden decreased, while
those in Norway slightly increased
Italy also made a moderate gain. In
percentage, the Bank of Switzerland
made the best showing in Europe, as
its gold holdings rose over $50 per cent,
or from Sl26, 100000 to S452,000,000
The Bank of Netherlands was next
in the ratio of its increase, which
amounted to 100 per cent, with gold
reserves up from Sl75,000 900 TO $751;
0O0,C00 Spain, which has a higher
gold stock now than Belgium, Holland
or Germany, experienced a loss during
the year Of S32,000,000.
Soviet Increases Gold.
Nearly all of the smaller countries,
such as Autsria, Hungary and Rumania,
lost gold. On the other hand, the
Soviet government in Russia increased
its gold from $3.50, ,O00,000 to 1923, 900, 900
Without exception, all of the 10 coun-
tries in Latin America suffered de-
crease in gold holdings last year The
total reduction was about 80 per cent
Most Of this occurred in Argentina
whose gold supplies dropped from ap-
proximately $400, 900, 900 to $265 100000
In the Far East Japan, which went off
the gold basis late in 1881, had 35 per
cent less gold at the end Of the year
than II months earlier Australia saw
her gold reserves decreased by one
third. However, India has been expos
ing larger amounts Of boarded gold in
recent months, some of which has been
moving to Great Britain, which was
able to increase her gold stock during
1881 over 25 per cent.
(Copyright, 1922
Evening star., 1932-01-29
Everybody's
Business
Assurance of Rail Wage
Agreement HELPS Out
look for Securities o.
fered by Carriers.
BY DR.. MAX WINKLER.

Special Dispatch to The Star.
NEW YORK, January 90 (N.ANA).
With the Brotherhood of Railroad
Trainmen, which had at first refused
to consider reduction in wages, finally
joining the other labor organizations,
little doubt is now entertained as to an
amicable adjustment Of the wage queS-
ton.
A. F. Whitney, president, points out
that the brotherhood has passed reSo-
luton authorizing its president to nego-
tiate a settlement of the wage matter
on the basis of deduction from each
pay check of not more than 10 per
cent for one year.
1t was felt that complications might
arise as result OF the insistence by
the brotherhood that no wage cuts be
effected after the expiration of the
year
The wage agreement on the basis
which now seems likely would, it is
estimated, result in savings to the car
rierS, on the basis of last years figures,
of about S200,000,000, which, together
with another $100,000,000 resulting from
the recently granted advance in rates,
would prove of material aid to the
cOuntry'S transportation systems
The outlook for railway securities,
especially senior obligations of various
categorieS, may therefore be viewed
favorably.
After having been identified with the
New York Edison Co. and allied enter
priseS for about a decade and half,
Matthew S. Sloan rendered his reSig-
nation as president of the company and
it's various electric affiliateS. Besides
stating that he had plans for the fu
ture which he was not at liberty to
disclose, Mr.. Sloan gave no other eX-
planation.
1t was rumored that he might posi-
bly, succeed James A. Farrell as head
of the Steel Corporation. Although not
impossible, those who are familiar with
the situation are somewhat Skeptical,
pointing out that the resignation may
have arisen as a result of the changed
status of Mr.. Sloan following the death
of Nicholas Brady. a dominant figure
in Consolidated, who is known to have
been especially kindly disposed toward
Mr.. Sloan.
Likelihood that the Glass banking
bill in its present form will be subject
to considerable delay may be viewed
with satisfaction.
Wnlle possessing many COilStI uCIlNe
features, the bill as whole is regarded
as detrimental to the banking system
Of the country. Restriction against Is
day loans by men,b bers banks, increase
in reserves against deposits, and curb
ing of collateral loans by member
banks, which the Glass bill provides,
are measures tending further to in
crease dehation at a time when the
administration and central banking au-
thorities are doing their utmost to bring
credit contraction to an end.
Unless there is a marked Increase In
Evening star., 1932-01-29
BETHLEHEM STEEL
PASSES DIVIDEND
Directors Omit Payment on
Common Stock After Cut
ting 1t for z Quarters.

(From the $50 Edition of Yesterdays Starr
BY the Associated Press.
NEW YORK, January 2s.-Bethle-
hem Steel Corporation today omitted
the dividend on its common stock,
In the two preceding quarters direc-
tors had declared payments of so cents
a share, reduction from the 81 divi-
dend in the first quarter of 1881. Prior
to that period the stock had been on
Sc annual basis since July, 1929. NO
dividends were paid from July, 1924,
to the first quarter of 1929, when a 81
basis was established.
Dividend on Preferred.
The regular quarterly dividend Of
SITS on the preferred was declared.
The company had a deficit of Sl,776,-
938 in the last quarter Of 1881, after
interest charges and depletion and de-
probation allowances, compared with
a deficit of $l,502,0 ,002 in the third quar-
ter and net income OF $2,29l 600 Tor
the final three months OF 1880.
The preliminary report for the en-
tire wear 1881 showed a net income OF
Sll5,745. Contrasting with net income
of S23,843,406 in 1880. Earnings
amounted to II cents a preferred share
against S5.26 on the common in the
previous year.
Total income for the fourth quarter
was S3,485 700 compared with $3,954,-
900 in the preceding period and STAB
383 in the corresponding quarter OF
1880.
Operations Decrease.
Operations averaged 80 per cent OF
capacity against 80 per cent in the
third quarter and 42.5 per cent year
aFo. Current operations are TO a rate
Of approximately 81 per cent.
Orders on hand December 81 were
valued at SAL 1,5l4877, compared with
,262,342 on September 80.
Cash and liquid securities as OF De-
cember 81 totaled $50278,721, COM
pared with $57818, 962 at the end Of
1880. Gross sales and earnings ag-
gregated $186,54l, 1875, against $685.
979,253 in 1880.
The preferred dividend is payable
April l to stock of record March 4.
A statement said:
I'm view of present conditions it was
decided not to declare any dividend
on the common stock"
E. C. Grace, president, said there
is no improvement in orders. AS
matter Of fact they are a little lower
in January than in December"
Evening star., 1932-01-29
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, January 29.-The fol-
lowing is summary of important cor
poration news prepared by the Standard
Statistics Co., Inc, New York, for the
Associated Press;
News Trend.
For the tWenty-first consecutive week,
brokers loans decreased, dropping $18,-
100000 in the week ended January 27
10 total of $513, 100000, according to
the report of the Federal Reserve Bank
of New York. This is the lowest figure
reported since February /, 1918. Loans
made by member banks for their own
account declined $8,000,000, loans for
out-of-town banks dropped sl2OOO,OOO,
while loans for Others" advanced ST.
100000.
The Companies.
Brillo Manufacturing 1881 common
share earnings S1,40 VS.. 78 cents.
Cuba Co.-No action taken on semi
annual dividend on preferred stock
paid $3.50 August /, 1881.
General Baking - Common share
earnings, year ended December 26,
$3.50 VS.. $270 in year ended Decem-
Der 27, 1890
General Cigar-1931 common share
earnings, $5.0l VS.. S6.03
Humble Oil & Refning-Cuts Hous-
ton retail gas price l cent gallon and
tank wagon price cents a gallon.
McCrory StOres-DeferS dividends on
common and common stocks paid
so cents on each class December l,
1881.
Mullins Manufacturing-193 net in
come 100000, equal to $348 a pre-
ferred share, VS.. deficit $331,7
Tide Water Oil-Advances tank car
price of gasoline y cent gallon.
United States Steel subsidiary, Fed
eral Shipbuilding-G American Dia-
mond contract for reconditioning six
vessels at cos, of over $1,000,000.
Bethlehem Steel - Passed common
payable February IS, 1882; 1881 pre-
ferred share earnings, IL cents VS..
S23.84; orders Decemmer 81, 1881,
S41.514,877 VS.. $48,262,342 September
3d. 1881, and $68, ,426, ,595 December 81,
1880: current operations averaging
about 81 per cent of capacity.
Canadian Dredge & Dock-Passed
quarterly common dividend; directors
recommend rate to So annually from S3
Chicago, Rock Island & Pacific Rail
wav 1881 deficit $386,545 VS.. net in
come $7,7OO,229, equal to $3.50 COM
mon share.
Gulf, Mobile & Northern Railroad
December net operating income UP So
per cent; IL months, off 1877 per cent.
Nashville, Chattanooga & st. Louis
Railway December net operating in
come off 74.2 per cent; II months, off
61.1 per cent:
Standard Oil of New Jersey reduces
price of kerosene Y cent gallon at
seaboard points.
Du Pont (E. I. de Nemours & Co
1881 common share earnings $4.29 VS..
Hercules Powder 1891 common share
earnings S104 VS.. S2.61.
Cord Corporation common share
earnings, year ended November 80, &c
cents VS.. 65 cents.
Central States Electric Corporation
1881 net income $3,8o5,570 VS.. $685.
1872.
Evening star., 1932-01-29
BY CHARLES F. SPEARE.
Special Dispatch to The Star.

Special Dispatch 10 The Star.
NEW YORK, January 29.-The latest
statement Of the Bank of France shows
large addition to its gold stock dur
ing the week of January % and an
amount in hand which, with the gold
earmarked in New York and now be-
ing returned to France, will raise the
French holdings to approximately S.
900 ,000, 900. This compares with S4,-
450 ,0OO,0 held in the United States.
In the past IL months the increase
in the Bank OF Frances gold has
amounted to about $500, 100000, or over
20 per cent, at the same time that
there has been reduction in the yellow
metal stock of the Bank of Germany
of $500, 900 and of about $100,000,-
600 in that Of the Bank of England.
Belgium. like its ally France. has also
been building up its metal reserves ond
has increased them during the year by
about $165O00,o0O.
Ratio Above So Per Cent.
With its policy of steadily strength
ening its position, the Bank of France
today shows a reserve ratio above SO
per cent. This probably will continue
to rise. It's sight balances abroad show
sharp decline. Out of the total of
about s500,000,000 of short-term bal
ances to the credit of European coun-
tries in the United States, the greater
portion is held for French account.
The French balances in this country
have given bankers, as well as the ad-
ministration, considerable anxiety ever
since France started to draw them
down rapidly last Autumn and was
finally persuaded to abandon this policy
after the conference between President
Hoover and Premier Laval. Lately it
has been apparent that the withdrawing
program has been resumed, although
there were reports today that France
was offsetting the amounts taken out
Of earmarked gold by purchases Of
new metal, so that the net effect Of
the two operations would be to main
tain the balance at about its original
figure.
In some quarters the feeling obtains
that it would be better for France TO
take home her entire balance and re-
lieVe this market of the constant threat
Of withdrawal at mOppOrtune times.
There are practical advantages appre-
ciated by foreign governments and their
Evening star., 1932-01-29
STREET SURPRISED
WHEN SLOAN QUIT
Utilities Executive Has Had
Interesting Career in
Power Industry.
Special Dispatch to The Star.

NEW YORK, January 29-The un-
expected resignation Of Matthew S.
Sloan from all the local public utilities
with which he had been associated for
the last decade caused great surprise
In Wall street and 10 his many personal
friends here
Il have business plans for the future
which I am not at liberty to discuss
now" was the only explanation Mr..
Sloan would offer for his resignation,
which produced a group OF rumors,
many Of them fantastic.
Born in Mobile, Ala. in 1892 Mr..
Sloan was graduated from Alabama
Polytechnic Institute, at Auburn, where
he was star athlete, as well as a first
rate student.
Goes TO New York.
Down in a little Alabama town Mr..
Sloan decided to learn the public utility
business, so he fed the furnaces Of a
gas works, collected bills and did all
the odd jobs about the plant. Then he
went to the main plant Of the General
Electric Co. at Schenectady, N. Y,
where he added to his knowledge, and
1t was not long before he was heading
the New Orleans Railway e. Light Co.
Then only 35 years old, his ability at
tracted the attention of the late Nicho-
las F. Brady, who in 1919 invited
Matt" to take charge of Brooklyn Edi-
son Co.
Mr.. Sloan, who is known to virtually
every visitor from the South who ar
rives here looking for work, is regarded
as one Of the most expert public utility
operators and one of the most out
spoken executives in that industry.
hard worker, though seldom seen in
the odlceS OF the various local utilities
over which he presided, Mr.. Sloan be-
lies his so years, for his hair is with
out trace of silver and his carriage is
that of an athlete
Coming just on the day that the New
York Edison Co., Of which he is trustee
and president, was offering a S25 OOO.-
900 bond iSsue-the first major utility
new financing in monthS-Mr. Sloans
sudden resignation was in some quar-
terS attributed 10 a dispute with bank
ers over that financing.
Clashed With Commission.
Rates and Submetering have caused
Mr.. Sloan to have many clashes with
the New York Public Service Commis-
SIGN in the last two years Recently he
has had several fast rounds with labor
SpokeSmen who advocated public own
erShlp OF utilities. Not long ago he
predicted that the depression will end
within the next l8 months
At special meeting Of New York
Edison trustees early yesterday afternoon
Frank M. Smith, vice president and
general manager and a director of
United Light & Power, was elected
president to succeed Mr.. Sloan.
Copyright, 1922
Evening star., 1932-01-29
Finance Co. of America.

BALTIMORE, January 20 (SpeciaD -
Net earnings of the Finance Co. of Amer
lea at Baltimore for the year 1881 to-
tailed $136,301 43, equivalent, after divi-
dend requirements, to ga cents a share
on the outstanding common shares, ac-
cording to report made to stockholders
by President Louis A. Eliasberg
This compares with net income, after
charges, of S189,913.28 in 1880, or $141
a share on the common.
Total current assets were $685.
84561 and total current liabilities,
$1488,586.62 Capital and common
equity totaled $1,685, ,856.78 at the end
of the year and assets, 1882, ,o6907.
Evening star., 1932-01-29
Freight Car Shortages.

BY the Associated Press.
In recent years freight car shortages
have been practically non existent and
no shortages were reported in 1880.
An analysis by the Commerce Depart
ment states that formerly it was a
frequent practice of shippers to order
more cars than were needed during a
period of shortages, in the hope of thus
getting their minimum requirements.
Adequacy of the car supply in the
last few years, in the face of heavy
traffic, was laid chiefly to better man
agement, the larger and better cars
which have been purchased by the car
rlerS and the cooperation of the buy
ers of railroad transportation through
the Regional Board.
Evening star., 1932-01-29
PUBLIC SERVICE CORP.
ADDS VICE PRESIDENT
Special Dispatch to The Star.


CHICAGO, Ill, January 29-Central
Public Service Corporation today an
nounced that at the next meeting of
directors Luke c. Bradley is to be
elected vice president to take effect
February l.
Mr.. Bradley is an outstanding public
utility operating executive, with broad
and varied experience in the industry
He has been associated with Electric
Bond & Share Co. in the purchase, de-
yelopment and operation of properties
in South America for the account of
the American g. Foreign Power Corpo-
ration.
Previously he was connected with
Stone & Webster for some years in an
operating and executive capacity, having
at one time been in charge of all rail-
way and lighting properties in the
Southwest. and later president of the
Virginia Electric & Power Co. at Rich
mond, Va.
Evening star., 1932-01-29
New York Cotton

Special Dispatch to The Star.
New York, January 29.-Opening
cotton prices today we're 2 points lower
to l higher. Trading was in small VOL
ume with fair trade demand in near
months, but lack Of bidders for distant
contracts.
Opening prices were March, 663, up
!; May, 68l up !; July, 697, un-
changed October, 719, unchanged; De-
cember, 735, unchanged and January,
TAO off 2
Evening star., 1932-01-29
Insurance Company Investments.

NEW YORK, January 29.-The re-
port of the New York Life Insurance
Co. as of 1881 shows investments in
railroad bonds slightly exceeding those
of other classifications and more than
double the total of public utility and
industrial bonds. The company carried
its bonds not subject to authorization
and all of its stocks at the market quo
tations of December 81.
Evening star., 1932-01-29
INTEREST RATES.

BY the Associated Press.
Time money average rates eaSed off
slightly last week, but call funds re-
mained unchanged. In the levels that
follow the average rates for both classes
of money are given for comparable
periods as calculated by the Commerce
Department:
Evening star., 1932-01-29
PARIS BOURSE 7RICES,

PARIS, January 90 LP.-Three per
cent rentes, 78 francs 80 centimes Five
per cent loan, 102 francs 10 centimeS
Exchange on London, 81 francs 95
centimes. The dollar was quoted at 25
francs 40 centimeS.
Evening star., 1932-01-29
Donkey Defeats Bear.

A small bear attacked James Kerril's
donkey in the mountains near Canon
City, Colo, and was almost kicked TO
death.
Evening star., 1932-01-29
RIGHTS-ExPIRR

RIGHTS-ExPIRR
IA Pub Sve n II Feb ~ IL IL ia
Dividend in dollars quarterly ssHi-an
nua payment 'Ex dividend 1Partly stock
PAYABLE in cash stock Payable Adjustment
dividend plus 81 in Plus h l% in
stock Plus 10 in stock Plus l0rs ss. In
stock Plus SO in stock Paid
Evening star., 1932-01-29
STOCK AND BOND AVERAGES
STOCKS.

BY the Associated Press.
From Yesterdays $50 Edition.
Evening star., 1932-01-29
NEW YORK CURB EXCHANGE
Wire % The Star

Stocks sold in IOo-sbare lots except IN
PREV. 1887 Stock and 81
High. Low Dividend Rate. Add
Evening star., 1932-03-06

sK 8 Abitibi Pwr & Pa pf.
SO 90 Abram Straus pf 60
So ga Adams Express. 80. &.
10 IS Adams EXP pf (5D. :.
29 "a Adams Mills (2).
13 10as Addressograph (1). .
3as 2ss Adv Rumley. .......
1914 12ts Affiliated prod 1.60.
617s as Air Reductiontt4h)
2 1ss Airway Elec Appl. Z.
16M 117s Alaska Juneau t50c)
3Is Ia Allegheny Corp. 80.
7as 2la Alleg Cp pf $40 WV. .
6M 2Ss Alleg Cp pf $40 WV. .
6A 2A Alleg Cp pf $40 XIV.
13 10 Allegheny Steel. .....
S6% 62H Allied Chemical (0.
1854 1OS Allied Chem pf Cd.
13ss 10k Allis-Chalmers(5oc)
10 tn Alpha Port Cent %.
10 7 Anal Leather pf. ...'
IAN IL Amerada Corp (2). E.
IN 81 Am Agri Chem (DeD .
1871 121S Am Bank Note. 49,.
Al 40 Am Bank Note pf (s)
a. II Am Beet Sugar.
Pa 21s Am Beet Sugar pr.
15h IL Am Br Shoe (1.6o)..'
73ss 54b Am Can Co (t5).....
1854 117% Am Can Co pf o..
81a 6h Am Car & Foundry.
SO 25 Am Car & Fdy pf CD
6 Az Am Chain. ..........
37k 29 Am Chicle (t0.
6 5 Am Colortype...
9h 61s Am Comcl Alcohol. ,,
s 3 Am Encaustic Thing
10h Tia Am European Secur.
9M ga Am & For Power. -.
SO 1914 Am & For Pwr pf(6)
3sh 21% Am q For Pwr pf(7).
17A 111 Am & For Pwr I'd pf.
s A. Am Haw St'ship a..
2li is Am Hide & Leather. .
IL 9 Am Hide & Leath pf.
49A AIS Am Home Prod 4.20..
20N IL a Am Ice (2).
65 30 Am Ice pf (e).......
Sh 8 Am International. =.
n Il Am La France&Fom. I.
2 Am La FIR & Fom pf 3.
eh 81 Am Locomotive. ....
43 30A Am Locomot pf(7D..
22h TN Am Mch & Fdy 1.4o. .
3& 2 Am Mach & Metals. {.
SIS Az Am Metal Co. .......
1914 13 Am Pwr & 1t (t1)...
49% 38h Am P & 1t pf A t6). .
So 48 Am Pwr 4 1t pf (6)..
81 6 Am Radiator t40c)..
13 7% Am Rolling Mills. ...
% 21as Am Safey Raz ts)..-
n u Am Ship G. Com. -.
25h Fl Am Shipbuilding CD.
1885 12ss Am Smlt & Rfg (50c)
IS Al Am Sm&R "a pf (6) ..
IS 70 Am SIN & Rig pf %.
34ss 30N Am Snuff (t3A)....
100 80 Am Snuff pf go.
u II Am Solv & Chemical. {.
Ia u Am Solv & Chem pf. .
s% 5% Am Steel Foundry. .
36% 33h Am Stores (t2h)....
39A 21h Am Sugar (D.......
SSh 67ss Am Sugar pf (7)....:
s 3% Am Sumatra Tob. g.
137x 1074 Am Tel & Teleg (s). 2
85 IS Am Tobacco (tO....
S8A 66h Am Tobacco B CO..
11Oh 105 Am Tobacco pf co..
10 AZ Am Type Fly pf CO..
33% 24ss Am Water Wks (O &.
80 211a Am Wat Wks cfs(O.
rs 70 Am Wat w 1st pft0
6M 8 Am Woolen Co.
3O% 15h Am Woolen Co pf. -,
q n Am Writ Paper ctfs.
ga 2 Am Zinc & Lead. ....
Jpn SH Anaconda Copper. -.
TN 13 Anchor Cap t2.40)...
4s4 3A Andes Copper. ......
IL gu Archer-Daniels d..
40h so Armour Of Del pf(O.
IN / Armour Of Ill fA)...
n n Armour Of Ill (B).
gu 6S Armour of Ill pf. zee.
80 30 Artloom pf (D..... :,
2x IN Associated Apparel. -.
sh 5h Associated Dry Gds., i,
ga IN Associated Oil. .....
a. II Atch To q San Fe(O
SO 76h Atch To&S Fs pf(5).
4lH 25k All Coast Line 90. ..
l0h 10 Atl Gulf&West Ind.
1914 Is Atl Gulf& w Ind pf. {.
1l9s SM Atlantic Refining 90
79h TIN Atlas Powder pf 90.
5N Az Atlas Stores t60c)...
1917 s3% Auburn Auto (f4)...
q II Austin Nichols. go.
3h 21s Aviation Corp (Del).