davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-01-13
HEAVY GOVERNMENT FINANCING
UNSETTLES SECURITY PRICES
Investment Market Disturbed by Large and
Frequent Issues of u. S. Bonds.
Increase in Money Forecast.

now selling at about s5. The fourth
f1oated at par, are at 981a. The Treas
ury 4s, which institutions and corpora
tions bought at par in excess of 81 ,000,-
900 900, are at "a and the Treasury 334s,
amounting to nearly $500,000,000, are at
901a. The return today on the Liberty
fourth 4As, the Treasury As and the
Treasury 334s ranges from 4 "a per cent
to nearly 4.30 per cent regardless of
maturity, or a better income than was
available to the American public on
their war loans.
Treasury Problem.
The situation facing the Treasury at
present is one that compels it to find a
new clientele for it's issues. There has
been no effort made to interest the
American investing public in Govern
ment bonds since war days. Naturally
investors with a few thousand dollars
at their disposal were not attracted by
the interest return at which the Gov
ernment loans of the past five or six
years have been foated. During that
period they were trying to see how much
money they could make out of the
stock market.
Eventually the Government must
ISSUE d lOllS S-LtIIl lOdIl. IL ~
on with its present policy of temporary
financing. This means that loan
running from Is to rs years would have
to be offered at rate to which the
public would respond. There is now
taking place considerable absorption
of the outstanding loans by private in
vestors who feel they have a good bar
gain in Government credits that yield
them about VA per cent at time when
interest on commercial bank deposits
average less than 2 per cent and, in
general, is 3l2 per cent in savings
banks. Dealers in Government bonds
have done more business of this sort in
the past week than at any time in the
last few years.
1t is beginning to be felt that Gov
ernment long-term loan offered between
Az and AZ per cent basis must be
part Of the program of the Treasury
this year. There are even some stu
dents OF the Government bond market
who go so far as to maintain that loans
giving a direct yield to the purchaser of
424 per cent are not improbable. The
point is that future government issues
must have popular appeal and that
without the support of the public,
which has large sums of money in re-
serve for investment as well as in hid
ing, the Government cannot successfully
meet the numerous demands upon it for
dealing with credit and relief situations
all over the country.
Copyright, 1922
Evening star., 1932-01-13
Petition in Bankruptcv,

NEW YORK, January IS (P.-Vol-
untary petition in bankruptcy was filed
by the Metropolitan Chain Stores. Inc,
Incorporated in Virginia; the Metro
polltan Chain Stores of Texas. Inc.
and the Metropolitan Chain Stores Real
Estate Corporation, incorporated In
Oklahoma.
The concerns acknowledged liabilities
OF S2,672, ,904. Assets are listed as more
than S30o0,000, including leaseholds,
accounts receivable and merchandise.
Evening star., 1932-01-13
BY CHARLES r. sPEARE.
Dispatch to The Star.

Special DlspaGCu w 4Ae otats
NEW YORK, January ia steady
pouring out Of Government bonds into
the investment market at time when
of having reached q point of stabiliza-
ton Is now the most unsettling feature
In the general securities situation.
The size of Government issues makes
it difficult to support them, even where
this is regarded as practical opera
ton. The extent Of the Government
deficit and the various proposals to en-
large the Government debt by the ad-
dition of emergency issues has devel-
oped q psychology toward Government
loans that is nearly as beariSh as that
lately applied to the obligations of cor
porations Institutions that built up
large amounts Of Government securities
in order to strengthen their position
and to make strong showing at the
end of the year have withdrawn from
the market as buyers. Some of them
have been reducing their Government
portfolios in favor of assets Of a
higher earning power.
Selling at Discounts.
The general effect of all this is that
today, for the first time in a decade,
all Oh Llle Liberty bOIlus AIlQ 1IedSu1
issues are selling at discounts ranging
from IL per cent to Is per cent and
the unusual policy is being adopted by
corporations Of setting up reserves to
cover their depreciation on holding OF
Government issues. 1t is also striking
fact that while the obligations of the
United States have been in slump re-
Gently, those of Great Britain, France
Canada, Holland and the Scandinavian
countries have all been advancing.
In order to meet the Government re-
quirements it will be necessary in the
next six months to issue large addi-
tional sums of money. The problem OF
the Treasury Department is in finding
buyers for the new bonds or notes
Heretofore, the banks have almost ex-
clusively taken its offerings, occasion
ally under pressure. Some of the very
short term issues have been absorbed by
corporations whose business require
ments were restricted and who needed
an outlet for idle funds. Both banks
and corporations are now invested close
to their limit in Government securities.
During the war and directly after 1t,
the American public purchased many
billion dollars worth Of Liberty Bonds
at par, on which the return ranged
from 312 to Az per cent. Subsequently
they resold most of these bonds in the
market or had them paid off. The sAz
per cent Liberty loan, issued at 100, is
Evening star., 1932-01-13
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, January 13.-The fol-
lowing is a summary of important cor
poration news, prepared by the Stand
ard Statistics Co., Inc, New York, fol-
the Associated Press:
News Trend.
Revenue freight car loadings increased
sharply during the week ended Janu-
ary 2. The rise was due to the sub
normal shipments in the previous week
due to holiday influences, together with
the advance shipment of goods to avoid
increased rates Actual loadingS, &C
cording to the American Railway Asso-
citation, totaled 5O3,325 cars, which
compares with AL $50 cars in the pre-
vious week and 14,860 cars in the cor
responding week of last year. Ore and
merchandise in less than car lots were
the only commodities which failed to
show an increase.
Steel ingot production increased about
3 per cent in the week ended January
II. The compilation by Dow, Jones &
Co. places the industry at slightly under
25 per cent of capacity, against shade
below % per cent in the previous week
and 40 per cent in the like 1880 week.
Daily average crude oil production III
the week ended January was 2,234 200
barrels, an increase OF 25,1OO barrels
over the previous week, according to the
American Petroleum Institute. The
most important changes were the 3d.
6O0-barrel increase in East Texas out
put and the 11,650-barrel decrease In
Oklahoma Gasoline stocks at reflnertes
totaled 39,106,000 barrels an increase
of 1,117,000 barrels.
The Companies.
International Shoe-Current output
about 1875, 900 pairs footwear daily; ex-
pected to be advanced to around 100, 900
by January 81.
Kelvinator Corporation - Shipments
of Leonard refrigerators, subsidiary, up
"a per cent in first quarter of fiscal
year.
Louisville & Nashville Railroad, sub
sidiary Nashville, Chattanooga 81 st.
Louis Railway, takes no action on $3.50
semi-annual dividend; coApany owns
183,747 shares Of its stock.
Utah Copper-Current output about
6. 900 900 pounds copper monthly VS..
II ,e00,0 900 during past year.
Alton acknowledgements prelim-
inary deficit after charges, $104, ,483, VS..
deficit $677,53s; IL months deficlt after
charges. So soc, ,2O1, VS.. deficit 81, ,602, ,204.
Community Power & Light net in
come before depreciation, amortization
and Federal taxes, IL months to No
vember 80, 81 s1,045,887.
Corporation Securities Co. OF Chicago
passed quarterly common dividend;
paid l Il per cent on stock December
81, 1881.
Goodyear Tire 81 Rubber-Overman
Cushion Tire Co. wins suit against this
company for patent infringement; mas
ter to determine damages; has asked for
$500000.
Prairie Pipe Line December crude oil
deliveries up 1913 per cent; IL months
off 43 per cent.
Union Oil Associates declared "a
cents dividend; formerly paid SO cents
quarterly.
United States Steel-Operations Of
plants In we1 ended January II aver
aged about ~ per cent Of capacity, VS..
Evening star., 1932-01-13
PEOPLES STATE BANK
ELECTS AT CHERRYDAlE
Samuel T. Cooper Again Made
President for Ninth Consecu-
tive Term.
AZ. star corresnondent of The star.

By STAFF Correspondent OF The star.
CHERRYDALE, Va, January 13.-
Samuel F. Cooper was reelected presl,
dent of the Peoples State Bank OF
Cherrydale for his ninth CONSECUTIVE
term at the annual meeting held in the
bank building here last night.
A. L. Kelley was named first wee
president, Glegge Thomas second vice
president, A. B. HontS cashier. w. F,
Robey assistant cashier and manager
of the Ballston branch, j. H. White, Jrp
assistant cashier and manager Of the
Arlington branch.
Those elected to the board OF dlrec-
tors are Clarence r. Ahalt Samuel F.
Cooper, A. B. Honts T. H. Jones, A. L.
Kelley. Fletcher Kemp, j. r. McCor-
mick, J. l. May, Ruby Lee Minar, E. w.
Rauth, Hugh Reid, w. r. Rose, J. L.
Saegmuller. E NJ. Shreve, B. A. This
sell, Glegge Thomas and Frank Upman.
Evening star., 1932-01-13
New Bond Issue.

BALTIMORE, January 13 (speciaD
Phelps, Fem & Co., are offering q
new, issue of 100000 City of Cumber-
land, Md, AZ per cent bonds, due on
april l, 1871: The offering was priced
at 81, to yield approximately 4s6 per
cent. The proceeds of the loan will be
useo Tor water system construction. The
issue came up for sale some time ago
but was not sold and was reoffered YES
terday.
Evening star., 1932-01-13
BANKS CLOSED.

PROVO, Utah, January 13 [P.-The
Farmers and Merchants Bank of this
city did not open it's doors today. Re-
cent heavy Withdrawals were declared
to have precipitated the closing, which
notice on the door declared was done
lin the interest of depositors.
The last statement, December 81,
showed demand deposits of 1861, ,073;
time deposits of $354,2s1, and resources
of 985,235. 1t Is capitalized at 500, 900.
BLACKWELL, Okla, January 13 (P).
The Security State Bank, BlackwelPs
largest financial institution, closed its
doors today 1t had capital of 100000
and deposits of S977,90S.
Evening star., 1932-01-13
Home Building Association.

AT the annual meeting of the Home
Building Association yesterday all the
following officers and directors were
elected.
Fred L: Vogt president; R. L. Quig-
ley {. Edward Beckett, vice presidents;
James Morris Woodward, secretary;
William K. Reeve, treasurer; Otto Her
mann assistant secretary. Directors
Alfred B. Baker, Charles G. Flemming,
Luther w. Linkins, A. Lynn Mcdowell,
Or. George B. Roth, Parker H. Sweet
50. This association began business in
January, 1884.
Evening star., 1932-01-13
FREIGHT LOADINGS GAIN.
the AsAociated PCS

BY the Associated Press.
Loadings Of revenue freight rose
sharply during the week ended January
2, despite observance Of a holiday dur
ing the period. Total loadings, for COM
parable weeks, as announced by the
American Railway Association. follow:
Week ended January 2, 503,325 cars;
previous week, AL $50 cars; same week
last year, 6l4,860 cars.
Evening star., 1932-01-13
HERNDON BANK ELECTION

Special Dispatch to The Star.
HERNDON, Va, January 13.-At a
meeting of the stockholders of the
Herndon National Bank yesterday the
following directors were reelected for
the ensuing year: w. M. McNair, M
H. Middleton, J. F. Ryan, 4. l.. Robey,
F. w. Huddleson, T. Edgar Reed, Mark
Turner and A. e. Bradshaw.
The officers will be appointed at q
meeting 10 be held next Wednesday.
Evening star., 1932-01-13
MERGER PLAN APPROVED,

NEW YORK, January 13 (E9.--Direc-
tors of the Sinclair Consolidated Oil
Corporation, Prairie OH & Gas Co. and
Prairie Pipe Line Co. today announced
that they had approved . plan for
merging the properties.
Evening star., 1932-01-13
New York Cotton
Special Dispatch to The Star

Special Dispatch to The Star.
NEW YORK, January 13.-Openine
cotton prices today were unchanged tc
a point higher. Trading was In small
volume. Foreign demand was slow
but there was very little cotton fol
sale.
January opened at $40, unchanged;
March, $50, up /; May $751; up /;
July, 684, up /; October, 7o6, up /
and December, TIC, unchanged.
Evening star., 1932-01-13
Columbia Building Association.

Directors of the Columbia Permanent
Building Association of the District of
Columbia have been reelected as fol-
lows: Melvin c. Hazen, H. B. Leary, L.
Perry West, Floyd E. Davis, Albert H.
Taylor, Alpheus E. Riddle, William P.
Richards, Howard r. Norton and Fred
A. Smith.
The board has reelected all of its off,
GERS: Melvin c. Hazen, president; Will
liam P. Richards, vice president; Floyd
E. Davis, treasurer; Fred A. Smith, sec
retary; c. Clinton James, attorney.
Committees have been reelected as fol-
lows: Floyd E. Davis and William P.
Richards, Valuation Committee; Ernest
NJ. Colvin and Walter G. Davis, trus-
tees; Melvin C. HAGEN, William P Rich
ards and Alpheus E. Riddle, Finance
Committee
Evening star., 1932-01-13
Prudential Building Association.

The Prudential Building Association
ofncerS and directors were reelected
and are Luther c. Steward, president;
Curtis Walker vice president; E. J.
Carlson, secretary treasurer; John B.
Colpoys, Hugh Reid, T. Howard Duck
EFT, Curtis Walker, Harvey L. Cobb,
Thomas E. Hampton, Thomas D. Lewis,
directors.
Evening star., 1932-01-13
U. S. TREASURY CERTIFICATES

Three 'front.' -wheel-drive automobile
models are being made in France.
Evening star., 1932-01-13

Allen c. Clark, secretary; Gilbert A.
Clark, actuary; Maurice D. Rosenberg,
counsel; Lauriston H. Hannah, assist
ant superintendent of agencies; trustees,
James G. Bennett, Henry P. Blair, AL
len c. Clark, Appleton P. Clark, jr..
Gilbert A. Clark, j. Leo Kolb, William
H. Rapley, William w. Rapley, E. Fran
CTS Riggs, Maurice D. Rosenberg, Joseph
Sanders, Luke c. Strider, Henry A. Will
lard I'd.
Evening star., 1932-01-13
Federal Storage Election.

The Federal Storage Co. reelected
these directors: E. K. Morris, James M.
Johnston, Harold N. Marsh, Charles P.
Stone, H. Randolph Barbee, D. P. Gail
lard, Henry P. Erwin, Griffith War
field, Daniel L. Borden, Carroll Nor
gan, Hanson E. Ely, jr; Charles G.
Treat, Charles S. Baker and Norman
B. Frost
The following officers were reelected
or re-appointed: E. X Morris, presi-
dent; Harold N. Marsh, vice president
and counsel; James NJ. Johnston. vice
president and treasurer. II Randolph
Barbeo, secretary; Henderson S. Dunn,
cashier; S. Webster Adams, Superin-
tendent; A. Russell Barbee, assistant
treasurer, and Marian Trumbull as
Sistant secretary.
Evening star., 1932-01-13
Equitable Life Insurance.

All officers and trustees of the Equit-
able Life Insurance Co. were reelected
as follows: Henry P. Blair president;
Joseph Sanders, first vicg president;
Evening star., 1932-01-13
Mutual Building Association,

AL officers and directors of the Mu-
tual Building Association we're re-elect-
ed: Thomas P. Brown, president; Joseph
F. Marsden, vice president; Thomas E.
Petty, secretary; j. Walter Stephenson,
treasurer; Joseph Dant, Joseph P.
Burke, Joseph T. Fitzgerald, Max Koh-
ner, Percy c. Brady, directors; Sheehy
& Sheehy, ATTORNEYS.
Evening star., 1932-01-13
KIGHTS--EXPIRg

a. = Com Edison Feb l.. "a IA u l4s i,
Il. Pub Sve N II Feb l 7 IN u.
Dividend rates in dollars b.isd
Payable in cash stock Payable adjustment
dividend. plus So stock lss in
stock Plus Plus loT in stock m Plus IL in
Plus 81 stock Paid
Evening star., 1932-01-13
PARK SAVINGS BANK
ELECTS OFFICERS.
George E. Walker Is Named
Chairman of Board-Other
Directors Are Chosen.

Continued From Eleventh Page)
Harris, william F. Ham, Harry King,
Wilton J. Lambert, Ralph w. Lee,
Charles B. Lyddane, Arthur D. Marks,
John Poole, James Brown Scott, Leon
Tobriner, George E. Walker, Wilmer J.
Waller and L. Perry West.
Evening star., 1932-01-13

Masked bandits art raiding post ofAees
In the Irish Free State.
Evening star., 1932-01-13
FOREIGN EXCHANGE.

tQuotatlonS furnished by W. B. Hibbs & Coz
Nominal gold Selling checks
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-03-18
GRAIN FUTURES
SHOW UNEVEN
TRADING RANCE
Weak Securities Offset
Strong Cables From
Liverpool.
BY HAROLD e. RAINVLLE
United Press stan Correspondent

CHICAGO, March 18.-Wheat
opened irregularly on the Board of
Trade today with the strength at
Liverpool giving March a good gain
but the deferred months dragging.
Liverpool was Unexpectedly strong
with declines there running into
brisk demands.
Southern hemisphere distribution
was interpreted bullishly by the
English market. EasineSS in stocks
was deterrent locally. Corn was
weak and oats easy with wheat.
At the opening wheat was 4 cent
lower to "a cent higher. corn was
= to 4 cent lower and oats un-
changed to Is cent lower. Provi-
sions were very slow but steady.
Liverpool started lower but quick
ly reversed itself and at mid-after-
noon was x cent to l cent higher.
Corn has been holding steady,
largely because of the low price
levels now obtaining. The country
is offering freely and the cash de-
mand is almost completely stag
nant. This works against a con-
Structive view of the situation. Iowa
and the northwest received SHOWS
overnight, but the rest of the belt
has been clear.
Traders in oats have been pay
ing more attention to the other
grains. especially rye. than thss
have to oats. The latter grain firms
up when the others improve.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-03-18
SWINE PRICES
UNSETTLED IN
EARLY DEALS
Cattle, Calves Hold Steady
and Strong; Lambs
Weak.

For the first time in several years
buyers and sellers were unable to
get together on price for hogs at
the city yards this morning. Bid
GERS offered to buy at prices steady
with Thursdays last figures, but
sellers held out for a Decent
premium over previous quotations.
Result was q deadlock with nothing
done during the first several hours.
Hog receipts were estimated at
1000: followers, %.
Cattle we're steady with receipts
of 500 Veslers held unchanged at
81 down. Calf receipts numbered
500.
Indications pointed to a lower
range in lambs. Good and choice
kinds we're sold at 81 to SITS. Re
ceipts were TOO
At Chicago asking was generally
10 cents higher on hogs. Most
early bids were steady to strong.
Weights of ITO to go pounds sold
for $4.70 to $475; best theld to $4.83
or above; 900 to 23o pounds, $3.50;
$50 to 80 pounds, $4.35 to $3.50.
Receipts were $4,000, including
1000 direct. Holdovers were 1000.
Cattle receipts we're 1000; calves,
500: market strong. Sheep receipts,
5000; 25 cents higher.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-03-18
DOw-JOnes
Summary


Roose Brothers. Inc, declared the divi.
dend Of 90 cents on common stock aflo
regular ouarteriy dividend of si.e2 on pre-.
fsrrsd. both payable May !, OF RECORD
April IS.
San Francisco bank declared the rsEu-
lar quarterly dividend 81 $50 q share
and q nsuai extra dividend Of SIS
share on capital stock. both payable
April /, Of record April /.
PennsyIvania railroad in 1881 earned
Si.4s share. against s5.2s in 1880.
New York cables opened in London al
3.6is4. against 3.6i5a; Paris. checks. 81. s75;
Amsterdam, s.ss; Italy, 1o.oe2. and Berlin,
1928.
Allied Chemical and Dye Corporation
and subsidiaries in year ended Dec. 81,
1881. reported net income at $is.sl3. Sic
equal after preferred dividends to 1914 a
share on 2,40l ,28S common shares out
standing at end OF year. against SIS 03.-
500. or ss.77 share on 22S6,960 common
shares in 1880.
Standard Oil Company Of Kentucky
year ended Dee. ~. 1881. showed net
profit Of sS.332.is3 after taxes. deprecia-
tion. etc. against s5.25s1s1 in 1880.
American Light and Traction in 1881
earned 500 common share, against
s3.44 in 1880.
Kelsey Hayes Wheel Corporation in 1881
showed net loss amounting TO 1867. 22S
after r.. chargessa against net proht of s2,-
Consolidated Company and subsidiaries
IN yf tU. fhSsd PISS 2s TasTsf
probation, depletion. preferred dividends
of Carter Coal Company, etc, against net
loss Of $l3i,s6s in 1880.
Glen Alden Coal Company omits quar-
terly dividend OF 81. due at this time.
regular Quarterly dividend Of sl.75 on
preferred stock. payable April !. OF record
March %.
PhiIiR Morris & Co.. Ltd. declared the
regular quarterly dividend of 25 cents.
payable April Is. Of record April 1.
ended Dec. 81, 1881. showed net income of
S46.1se.74i after federal taxes. deprecia-
0a aqS '0 to SOY sr share
4 TAO, 905 shares of combined common and
common stocks outstanding at end of
wear.
National Carbon Company declared the
regular quarterly dividend of 81 on pre-
ferred stock, payable May 2. Of record
April 20.
Continental Roll and Steel Foundry Com
pany in year ended Dec. 81 1881. reported
net loss amounting to $1i3.5so after taxes,
depreciation. interest. etc. against net
profit of $751;, 1855 in 1880.
Kansas Gas and Electric in twelve
months ended Jan. 81 1881 showed net
income OF 81 ,242, 1858 after taxes. interest,
depreciation. etc. against 81, 427,1s7 in pre-
ceding twelve months
Federal Knitting Mills in 1881 earned
s4.0s a share, against $4.53 in 1880.
Jefferson Electric Company in 1891
earned S1.Ss share, against sos in
1880.
Flour Mills of America declared the
regular quarterly dividend OF 81 on the
series cumulative preferred stock, pay
able April l. OF record March IT.
Southern Railway in January reported
net loss of $l,202s 1862 after taxes and
charges. against net loss OF $597,744 in
January 1881.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-03-18

Alice C. Bird, 81, city hospital. car
Leon Jarvis. -, Riley hospital, lObar
pneumonia.
August Krone, 90, 1l1s North Temple.
chronic myocarditis.
Annie brown. 81. 2o5s Boulevard Place.
arteriosclerosis.
Magdalena Lehrritter, II, zoos Lexing-
ton, arteriosclerosis.
Elizabeth Sophia Qusck. IS, S42 Harvard
Place, arteriosclerosis.
Christian Boesche, 80, S4S cofey.
arteriosclerosis.
Ida Fitzpatrick. "a, city hospital,
Richard James Thompson, 20, So52
Graceland pulmonary tuberculosis.
3 James 3. Watson, 50. Gil st. Paul,
Jennie Lamb 70, 1904 North Illinois.
arteriosclerosis.
Burt Cox. 50. Methodist hospital,
peritonitis.
Anna May Hancock. 10, city hospital,
Evart G. Day. So, 1910 North Bsyille.
mitrai insufficiency.
Theima Robb Harold. 2s S656 1ndianola,
pulmonary tuberculosis.
John J. orsborn. 70. 1918 Alton, broncho
pneumonia.
Sarah z. Gary, 81, city hospital, acute
myocarditis.
Andrew L. Hart, 40, $50 Ogden. pulmon-
arv tuberculosis.
Mary worl, 80. Methodist hospital. acute
cholangeitiS
Geneva Maxine Broshears. 4, 4Is North
Holmes, broncho pneumonia.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-03-18
Brush This off
Painting Sold by Chicago
Art Institute for $500
Is Worth 100000.

By United Press
CHICAGO, March ia cam
~ vas, Just Before Sunrise .
which hung in the Chicago In
stitute of Art for thirty-seyen
years, and then was discarded IS
ungenuine. today was declared by
DR.. Maurice Goldblatt, interna-
tionally recognized art critic, to
be a true Corot, valued at 500, 900.
Curators of the institute sold
the painting to the Chicago Ath-
letic Association for $500, when
they decided it had not been
painted by the famous French
artist.
The Chicago expert said the
work had been painted by Corot
in 1870, and that he had traced it
through three owners including
the late A. A. Munger from whom
1t was obtained by the art in
Stitute.