davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1932-07-11
BY LEWIS HANEY
Director of New York University
Bureau of Business Research


Bureau of Business Research
The Hoover Garner controversy
over the "relief bill" brings out
sharply a growing difference of
opinion concerning the Recon
struction Finance Corporation.
1t is useless to ignore the fact
that criticism of the corporation
has been growing, and that many
citizens think that it has limited
it's relief too largely to a few
favored classes. This criticism
has been increased by its failure
to stop bank failures.
Question One of Purpose
I am not sure that the criticism
is entirely fair. If we grant that
the plan has been to help the
whole country by helping certain
strategic interests. we must ad-
NIT that it is not necessarily
selfish or unreasonable in pur-
pose.
But to the extent that the
criticism is directed toward the
actual working of the corporation,
it has much justification.
Mr. Hoover is not correct in
implying that the r. F. C. has
not been running big banking
and pawnbrOker business thus
far. 1t has been making large
The Washington times., 1932-07-11
ALL GRAINS DIP
WITH WHEAT

CHICAGO, July II GN.S0-
Grains were moderately lower to-
day.
Weekend accumulation Of hedg-
ing pressure, easier cable and IA
vorable spring crop news all put
scattered weight on the wheat
market. Other grains followed
the leader.
At mid-session wheat was 12c
lower after opening 12 to 24c off.
Corn ruled steady to 1sc lower
and rye "a to 2sc down. Rye was
14c lower.
Trade was quiet in wheat. July
held around 4712c and September
at 50Ac.
Gables were y to Sec lower, and
sterling was off a point.
Northwest crop conditions re.
mained exceptionally favorable.
Estimated carlot receipts here
were: Wheat, 101; corn, u. and
oats, go.
The Washington times., 1932-07-11
MARKET HIGHER
AFTER EARLY
LOSSES
Ru LESLIE GOULD

NEW YORK, July II QN.SO
Moderate rallying tendencies un-
der the leadership Of Auburn
turned the market higher today
after an early sinking spell had
carried several of the pivotal
stocks to new low ground.
American Telephone was again
tie outstanding weak spot as a
consistent dribble of liquidation
sent the issue into new territory
fraction above 10. While a slight
recovery came into evidence along
toward midday, the stock con-
tinued fractionally under Satur-
days close.
Auburn again gave evidence
that it had lost none of its old
time ability to gyrate and shot
ahead more than points on
heavy turnover. The rest of the
motor group stayed in a narrow
range and gave no sign Of rising
upward with Auburn.
The utility stocks staged a
modest comeback after such issues
pAo ANOA UA1 C4ANoAA eSAAN NSAAS
Service Of New Jersey had been
pounded lower.
Tobacco shares were steady un-
der the leadership Of American
Tobacco, but showed no disposi-
ton to break out of their rut.
New York city traction issues
again moved higher, Brooklyn
Manhattan in the van with gain
of nearly point.
The rise in hog prices offset the
decline in wheat and brought
some good buying in farm stocks.
including International Harvester,
Case and SearS-Roebuck.
Carrier stocks as a group dis
played a decidedly firm tone fol
lowing early weakness in Union
Pacific, rallying tendencies in the
group shortly after the first hour,
however, had a beneficial effect
on the rest of the list. Atchison
and Union Pacific moved a point
or so higher.
The Washington times., 1932-07-11
FREIGHT RATES
GOING DOWN

Despite Interstate Commerce
Commission permission to raise
rates at the beginning of this
year by 3 to 4 per cent, freight
rates are coming down. Receipts
per ton mile in March, the latest
month for which statistics are
available, amounted to 1.061 cents
as against 1.074 cents a year ago
and 1000 cents in March, 1929.
This downward trend is a favor
able development, according to
the current weekly of the Alex
ander Hamilton Institute, because
the maintenance of rates in the
face of falling commodity prices
made the cost of transportation
too high to permit the distribu-
ton of a satisfactory volume of
goods.
While freight rates are still far
too high to stimulate an increase
in traffic or even to prevent fur
ther curtailment, the fact that
rates are now declining promises
the eventual adjustment neces-
sary to trade and traffic revival,
according to the institute.
The Washington times., 1932-07-11
CANADIAN CROP
OUTLOOK GOOD

Cool weather and heavy, fairly
general rains have promoted good
growth of all crops in the Prairie
Provinces of Canada. according
to the weekly crop report of the
Bank of Montreal.
Wheat is now heading out over
the entire prairies, with Mani
toba the furthest advanced, and
prospects for a good crop are
quite encouraging.
In Quebec the indications are
that the hay crop will be under
average; con tinued favorable
weather is benefiting other crops.
In Ontario all crops are progress
ing satisfactorily, and the out
look is for heavy yields except in
the eastern section where condi-
tionS are average.
In the Maritime Provinces fav-
orable weather is promoting good
growth. In British Columbia indi-
cations are for above average
yields of crops generally.
The Washington times., 1932-07-11
Galveston Exports
Of Grains Increase

During the grain year ended
June 30, exports of grain through
the port of Galveston totaled
33,960,576 bushels, according to
George E. Edwardson, chief of
grain inspection of the Galveston
Cotton Exchange.
Last year the total was 19,413,-
280 bushels of wheat, no other
grains having been exported in
that year. Wheat exports for the
year just ended totaled 26,143,-
549.58 bushels.
The Washington times., 1932-07-11
Investors Syndicate
Assets Up S2,259,568

Assets of Investors Syndicate,
Minneapolis, totaled $48,905, 787
as of June 80, 1882. an increase
for the first six months of 1882
of $2,259,568, according to a
statement released by E. M.
Richardson, treasurer, through
the Washington office today.
Cash on hand and in banks
amounted to $810,017, a gain
of $97,444, for the first six
months of the year. Bonds and
securities totalled S5,036,405, a
gain of $879,564 for the same
period.
The Washington times., 1932-07-11
CHICAGO LIVESTOCK

CHICAGO. July II GN.sD.-Hogs,
10000; 5Q1Oc higher. Top, $685. bulk,
S5@5.55; light, S5@5.55; light lights,
s4.9OQ $50; packing sows, s4@475;
pigs, $4.5O@5. Holdovers 1000.
Cattle-12, 900; strong. Calves, 1000;
steady. Beef steers: good and choice,
$7.5OQ9; common and medium, $500
$50; yearlings, $6.5O09. Butcher cat
tie: Heifers. $4.5O@7.5O; cows. $2.65@5 5;
bulls, $2.75@4 calves. $4SO@7; feeder
steers. $4.25@6; stocker steers. S445. J.;
stocker cows and heifers. 1904.
Sheep-2O, 0OO;- csc lower. Lambs:
$6.5O@725: common, $45O@s5.5O; year.
lings, s5@5.75: feeders, 4@5; ewes,
S1.50@250.
The Washington times., 1932-07-11
CLOTH TONE BETTER

NEW YORK, July IL G.N.S).
Coarse yarn cloths started the week
with a slightly better tone in demand
and some improvement in prices, which
were paid reluctantly by those buyers
who were covering actual needs while
other buyers were in most instances
unwilling to anticipate. Mills for the
most part were moving slowly in ad-
vancing prices, attempting to build up
a backlog on each stage of the ad-
vance in order to prevent repetition
of the disastrous effects Of previous
rapid advances. The bag trade con-
tinued fairly heavy buying.
The Washington times., 1932-07-11
Foreign

Ag Mtge B Col Is '46
Buenos Aires 7hs Al.
Buenos Aires Is 80.
Cent Ger Pw IS "a. .
Commerz&P Blk 6s 81
Europ Inv Mtg Is SIC
Farmers Mtg rs '63. :.
Germ Con Munic Is Al
Germ Con Music IS ~
Ham ElSt&Und 5hs' '3S
Hanover 6hs '49......
Hanover Is '39.
Isarco Hy dro Is 80.
Mendoza 7hs 81 -.
Parana (BraZil) rs '5S
Pied Hy Ell 61as so A
Prussian f 6s '34.
Ruhr C Co 6Rs A SO
Russia 5hs '2l cod.
Russia 6hs 10 cod e.
Santa Fe Is As ....
Saxon P Wks SIS SO
SHINES (H) Is '36 XIV
Stinnes Is as XIV.
United Ind C shs ~
The Washington times., 1932-07-11
Virginia Charters
TLUO .CO-OnerntineS

Two Virginia tobacco co-opera-
tive marketing associations have
been granted charters of incor.
poration by the State Corpora
ton Commission. They are the
Virginia Dark-Fried Tobacco
Growers Marketing Association
and the Virginia Bright Tobacco
Growers Marketing Association.
The Washington times., 1932-07-11
ADDING MACHINES

Burroughs Adding Machine Co.
reports increased activity as a
result of extra accounting in
volved in the new Federal Rev.
enue act.
The Washington times., 1932-07-11
WASHINGTON STOCKS

Potomac Electric IS pfd., 100
l071a, 10@1O71a.
Potomac Electric 512s pfd., SO
1O3.
Washington Railway and Elec.
trio pfd., 10@77A. 10@77A, SO
77A.
AFTER CALL
Washington Gas IS B, $1,000
10414.
The Washington times., 1932-07-11

Optional (b) Partly extra. (c) Extra
stock and I'D Extra in stock te Including
U) S-6Oths of share in stock (g) Paid 1881 th) Pay
able in stock (kD Paid this (AA) 1919 in stock
(ww) Cxw) without warrants (") Ex-
dividend. ~ Ex-righrs.
Dividend rate in dollars in parenthCssG
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1932-06-18

ate the TWO. towards getting Negro workers
into the organization. 1t further proves that
our fractions within the TWO. failed to un-
derstand the political significance of the G. I.
Resolution which states that "in the struggle
for equal rights for the Negroes, it is the duty
of the WHITE workers to march at the head of
this struggle
Characteristic of the theological work carried
on BY the fractions of the TWO. is the fol-
lowing statement of member of the Jewish
Buro of District 8: In discussing the Willie
Brown case at meeting of the Jewish Buro,
one of its members objected to open air meet
ings by the TWO. on behalf of Willie Brown
on the ground that, 'the members of the TWO
might claim that such open air meetings will
hinder the recruiting campaign carried on at
present by the TWO" Certainly such remarks
are not slips of the tongue! They are the
open expression of hidden white chauWnism
which come out in the open when forced by
events.
District Too Slow
Undoubtedly the District Committee of the
Party carries a certain amount Of responsibility
for such situation. AS pointed out on previ-
GUS occasion, the District too was slow in re-
acting to the Willie Brown case. The District
is still slow, and the slowness Of the District
Committee is being utilized by the enemies of
the working class, is being misinterpreted as
hesitation and fear to take drastic steps.
The situation is quite serious What must be
done at present is the initiation Of an theological
discussion on the position of the revolutionary
workers on the Negro question. The Party in
this district must make a thorough search within
its own ranks and proceed towards the mobil-
ization of the entire Party for the carrying out
of the Resolution of the Executive Comfnittee
of the Communist International and our own
Central Committee on the Negro question, not
only in words, but in deeds. The Party must
take the necessary steps to carry out the good
decisions on the Willie Brown case that were
made weeks ago but SO far not sufficiently put
into practice. The Party in this district must
carry out its own decision to have discussion
cussions must serve as basis and be part and
parcel of sharp struggle against white chauvin-
ism and the mobilization of the white workers
in the struggle for Negro rights. At the same
time the District Committee must in a Boil
shevik way criticize its slowness in this case
which undoubtedly was a contributing factor
towards the present situation.
1t is in such a Bolsheuk spirit that we must
approach our failure to react sufficiently to the
gro masses against this outrageous frame-up
1t is in the same spirit that we must take the
necessary steps to correct ourselves and carry
out the ECCI Resolution on the Negro Question
in the US.A, which will guarantee success
full mobilization Of the toiling masses of this
country for a struggle for Negro rights.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1932-06-18
VIEWS OF SLAVE-OWNERS
Sharpen the Struggle Against Them!

Brown guilty" There are many more such re-
marks which we shall not go into now. How
ever, we must ask ourselves the question, how is
is possible that at this date we find within the
ranks of proletarian organizations - organiza-
tons which endorse every campaign Of the Com
munist Party such brazen outspoken, anti
working class approach to one of the most fun
damental problems of the American working
class? How can we explain that within the
TWO, an organization which will work over
time to raise money for May l. or send dele
gates to the Communist Party Election Cam
paign Conference, we find an atmosphere which
stinks Of the old slave market?
Not An Accident
To reply to these questions one cannot separ-
ate the occurrences in Branch 76 from the gen.
eral orientation Of the TWO. in this city, nor
can we separate these acts of open white
chauvinism and race prejudice from the leader
ship given by the Communist Party fraction in
this organization on the Negro question in gen.
eral and the Willie Brown case in particular.
Such things don't happen by accident nor are
such remarks slip of the tongue. The fact
is that our own Jewish Buro failed to grasp the
class and national character of the Willie Brown
case From the very outset of the case it be-
came evident that certain elements within the
Jewish mass organizations adopted a position
impermSsible for members of a revolutionary
organization Our Party fractions under the
leadership of the Jewish Buro, instead of react
ing to this matter Immediately, took the whole
matter too lightly, discussions in those organ
izations dragged out for weeks and weeks, no
steps were taken to develop a real systematic
theological campaign which should have been
followed up by organizatonal mobilization for
the struggle for Negro rights. Such statements
as we heard in Branch rs of the TWO. are not
only expressions of white superiority, express
sions which reflect the views of the capitalists
and southern slave owners. Not only do such
statements place weapons in the hands of the
Negro reformists and create distrust against us
on the part of the Negro masses, but such state
nents hinder and prevent the further growth of
the International Workers Order and other
working class organizations-for no mass move
ment in the United States is possible, no strug-
gle of the workers can be victorious without the
unity of the white and Negro masses. Lenin
made this very clear when he stated:
"The victory capitalism cannot be
fully achieved and carried to its ultimate goal
unless the proletariat and the toiling masses
of all nations of the world rally of their own
accord in harmonious and close union"
The position taken by these people on the
Willie Brown case cannot be separated from
their position on the Negro question generally.
The fact that at this date we have such ex-
ms shows that our Party fractions within
those organizations carried on no theological
work within the last few years on the position
of our Party on the Negro question. 1t dis
closes the fact that our fractions did not orient
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1932-06-18

sharply raise in this situation before the inter-
national proletariat above all, the greatest
danger Of common intervention Of the impe-
rialist powers against the U.SS.R, the world
proletarian fatherland."
1t is clear then that while we must see the
growing conflicts between the imperialist powers
particularly between Japan and the United
States, in connection with the present impe-
rialist war in China, not for single moment
must we forget however the main danger of war,
namely that of an attack against the Soviet
Union.
The section of the outline which deals with
the forms of anti-war activity does not ade-
quately answer the question that imperialist war
will not bring back prosperity. We cannot merely
answer it in general manner as it is done
in the outline, namely sit WAR is no solution
OF unemployment which is an outgrowth of the
capitalist system and can only be abolished
together with the system that breeds unemploy-
ment." One of the reasons that merely such
general answer is given is because the outline
itself allows the idea to penetrate mo doubt
many workers will be placed in the war in
dustries"
To state it in such an unqualified manner,
effectively, also tends to create the idea that
war will essentially lquidate unemployment.
What we must particularly point out is that
while there may be bread for one there will
be bullets for thousands, and in such concrete
manner to also raise of course the question of
the revolutionary way out of the crisis and war
The Daily Worker carried number of Work
ers Correspondence, showing how in the large
munitions plants, naturalization schemes are
being introduced which result in mass layoffs
with heavy wage cuts. 1t is very essential
in our concrete exposure of the bourgeois pro-
paganda about war bringing back prosperity, to
utilize such concrete cases. The Daily Worker
Of May 81, carried an article by the Labor Re-
search Association exposing the myth of high
employment, high wages and high standard of
living during the war days in the United States
We also refer the comrades to the two articles
by conrade Sparks on will vsr Bring Back
Prosperity? which appeared in tie Daily Work
er of May IA and IS.
The outline Of the Chicago District on the
14th Plenum correctly points out the need
of linking up our struggle for immediate de-
mands with the ant-war campaign Here again
our struggle against war is presented a bit one
sided While 1T is correct to put a great deal
OF emphasis on the question of our struggle for
immediate demands in relation to our struggle
against imperialist war, we must also at the
same time emphasize the need of direct strug-
giles against every manifestation of imperialst
mobilization for war. One Of the reasons for the
slowness with which the Party responds to the
anti-war campaign and to the defense of the
Soviet Union are weaknesses in developing
direct struggles against irnperialst war
The same outline also suffers from the fact
that 1t does not present the struggle against
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1932-06-18
TOWARD Revolutionary Mass Work (RH 4z En 9
Some Errors in Chicago District Outline

IN an outline of the Chicago District on the
1 struggle against war, we have few serious
errors.
l. The outline states THE Communist Party
must clearly understand and be able to clarity
to the workers the antagonisns and rivalries
existing between the imperialist powers and util-
ize this for furtherng the interests of the work
ing class"
1t is by no means sufficient merely to say this
The entire section which deals with the question
of war does not speak of the main danger of
war today, namely war against the Soviet Union.
We must remember that the main contradiction
today is the "antagonism between the capitalist
and Socialist systens-this growing contrast be-
tween the two systems which is the kernel of
contemporary International relations effects the
further development of the contradictions within
the imperiast world, which have become par
ticularly intensified as a result of the crisis"
9th Plenum Resolution of the G. L.
The special war resolution of the 18th Plenum
of the G. L also points out that 'the danger of
armed conflict between the imperialst powers
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1932-06-18

is growing. But the growing antagonism of in
terest between the imperialistS does not dimin-
ish, but on the contrary increases the danger Of
war of Intervention against the U.S.S.R."
The resolution of the 14th plenum of our CEN
trail committee, in line with the above analysis
of the G. L, points out the sharpening Of the
contradictions and growing war preparations be-
tween the leading imperialst powers and "es-
pecially between Japan and the United States
who are at present more and more involved in
the sharpest conflict for their share in the ex-
ploitation and division of China and are con-
centrating their forces (navy, air forces, war
industry for an immediate armed struggle in
the Pacific" The 14th Plenum does not merely
speak of the conflicts between the imperialists
The resolution especially emphasizes that at the
same time the feverish efforts of Japan, United
States, England and France to come together,
arising on the basis of their common hatred of
the Soviet Union, their preparations for inter-
vention against the Soviet Union, the movement
of the Japanese troops to Northern Manchuria,
the feverish activities of the White Guards
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1932-06-18
THE SPEED-UP IN LAWRENCE

mery it took IL minutes to fill spool; now it
takes only six minutes. At the same time the
workers have been put on three frames in place
of two. These workers were put on piece work
several weeks ago, but mar such strong pro-
test that they were put back on day pay, which
amounts to $3.50 for a full week. Resentment
against efficiency men in this department has
been so strong that the company has Withdrawn
them temporarily
The looms have been speeded up from 1870 to
l54 picks per minute in the Wood Worsted Mill
of the American Wooden Co. The "stagger sys-
tenn" has been in effect in the weaving depart
ment of this mill for over four years. The pres
ent speed-up puts too great strain on the looms
which are constantly breaking down, thus caus-
ing harder work and pay losses to the workers
IL Men Do Work of 100
Before the strike Of October, 1881, about 100
men we're employed in the dye house of the
Wood Worsted Mill But new kettles were in
stalled by means Of which IL men now do the
work that was formerly done by 100 At the
same time the IL men now turn out the cloth
in about two hours whereas before the cloth
had to stay in the kettles "a hours This has
practically eliminated the night shift
In the spinning department of the same mill
new machines hav been installed with a double
deck of rovings in place of a single deck This
gives 200 rovings 10 the side of a spinning frame
instead of three. Doffers in this department
who are mostly girls, now get nine cents for two
sides of rovings where before they got nine
cents for one side. This is, in effect so per
cent cut Besides they are directly robbed OF
their wages when the company refuses TO pay
for doffs they have made
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1932-06-18
Socialist Construc.
ton in the Soviet
Union

On May IA the Volkhov aluminium plant, near
Leningrad, started operations and for the first
time in the history of the country aluminium is
being produced on factory scale. BY May q
the plant was producing tons day. The pres
ent annual capacity of the plant is 5000 metric
tons of aluminium, but it is planned to expand
the plant to double this capacity. The founda-
tons for this factory were laid on July g. 1880
Invitations have been extended to three Len
ingrad societies for the International Gentics
Congress, to be held at Cornell University Ithaca.
this year.
Capital investments in fisheries throughout the
Soviet Union are to be increased to 365000 900
rubes during the current year. The program for
this years fish catch throughout the Soviet
Union has been set at 1.9 million tons, as COM
pared with 1.3 million tons caught in 1881
Construction work on the second cotton substi-
tute factory in the Ukraine was begun early in
May at Chernigov The factory is to have an
annual capacity OF $500 tons of raw cotton sub
stitute
The second blast furnace of the N1agnitorgorsk
steel mill has been blown in, Construction work