davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-11-05
DOLLAR BOND DEFAULTS LAID
SAGGNG COMMODITY PRICES
Political Disturbances Also Declared an
Outgrowth of Drastic DeAation in
Raw Material Values.

spicuous of the financial trends Of the
times. In that month five of the "a
leading trade countries which, accord
ing to Moody's, in 1929 did 80 per cent
Of the world trade had an average
currency depreciation of 37l2 per cent
BY January, 1882, half of the total
number had an average depreciation Of
over 81 per cent. BY September, 1882,
the same II countries that were "off
gold" showed an average currency de-
probation Of 32l2 per cent, and last
week 1t was increased to above 35 per
cent. 1t was pointed out that "all of
these averages of percentages of depre-
citation are weighed down by the amount
of trade done by the respective coun-
tries"
Of the amount Of foreign dollar
bonds outstanding, $500, 900 900, Slight
ly less than 20 per cent, are now in de-
fault. OF this over half represent
debtors in South and Central America.
For instance, interest is defaulted on
Bolivian loans, amounting to about $59,-
600 900; on those of Brazil, 1881 900 900;
on Chile nearly 1927, 100000 on Colom-
bia, where the default is actual or tech
nical, S170,000,000; on the Dominican
Republica, s16,716, 900; and over s26,-
100000 for Ecuador. 1t is the opinion
VI LIIc hllltIICdl representatives VI LllcSt
countries that 1t will be some time be-
fore reorganization of most of these
Latin American loans can be effected.
European Defaults.
Defaults in Europe aggregate about
1862 100000, of which the largest are
those of Austria, Germany, Greece,
Hungary and Sweden, the last named
being concerned somewhat with the
kreuger failure. In the list of all dollar
loans in default are those of Mexico,
which has been in a chronic state of
bankruptcy for the past 20 years and
has suspended payments on obligations
amounting to S273,000, 900, and loans OF
Russia of s75,0O0,000. These two de-
faults. aggregating about Is per cent
OF the total have little relation to the
present causes responsible for the major
part Of the suspensions and do not prop
erly belong in any discussion of situa-
ton that has been produced by the cur
rent depression.
(Copyright 1922
Evening star., 1932-11-05
BY CHARLES F. SPEARE.
Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, November 5.-Most OF
the defaults in foreign dollar bonds
that have occurred in the past year are
the result of falling prices of COM
modities These, incidentally, have been
an important factor in causing political
disturbances.
Inability to sell the products of a
country at prices that would maintain
a proper balance of trade has affected
world exchanges. Not being able to
create enough exchange to meet the
debt service on their external loans or
their sinking funds, foreign creditors
have been compelled to establish mora
toria which are not likely to be an
nulled until there is general improve
ment in economic conditions.
The recent weakness, therefore, IN
commodities and in the currencieS of
various countries has an important
bearing not only on those dollar loans
that are in default, but on others that
are still regularly meeting interest and
sinking fund requirements. 1t was
pointed out in survey made Of the ex-
changes that II countries which are
responsible for SO per cent Of the world S
trade, had an average currency depreci-
alton from par OF 80 per cent. Three
other countries, whose trade represents
1919 per cent of the total, nominally
quote their currency at par, but actually
are under strict regulations for the
apportionment of exchange.
Decline in Sterling.
The decline in the latter hSlf of Oc-
tCb~r in st-rl..g exchange from point
slightly under $3.50. where it had been
Peg d" for long time, to below $3.50,
has had a decided effect on many other
currencies which are off the gold basis.
For instance, there has been an aver
age drop of per cent in the last two
weeks in the currencies of Australia,
New Zealand. Denmark, Norway,
Sweden and Japan.
The progressive rate Of depreciation
in the exchanges since August, 1881,
or a month before Great Britain went
off the gold standard, forms an inter-
eSting record of one of the most con-
Evening star., 1932-11-05
High Yields.

NEW YORK, November LPl.-The
decline in stocks from the high levels OF
October, without any change in dlVl-
dend rates, has increased yields to a
level where it may be expected that
some investment buying will be at
tracted. Yields on shares that appear
to have a reasonable chance of main
tanning present dividends are: Auburn
Auto, 1912 per cent; American Power d
Light per cent preferred, 20 per cent;
American Telephone g. Telegraph, over
9 per cent; American Tobacco common.
10 per cent; Brooklyn Manhattan
Transit, per cent preferred, 10 per
cent; Chesapeake g. Ohio, l2.5 per cent;
Commonwealth & Southern 6 per cent
preferred, II per cent; Delaware &
Hudson. 10 per cent; National Dairy
Products common, Ill per cent; Stude-
baker 7 per cent preferred, IT'S per
cent; and Union Pacific and United
States Steel preferred, each about 10
per cent.
Evening star., 1932-11-05
BROKER LOANS GAIN
$1O,OO0,0OO IN WEEK
Federal Reserve Board Statement
Shows Total Borrowings Are
at $685., 100000.
Special Dispatch 10 The Star.

Special Dispatch 10 The Star.
NEW YORK. November 5.-The
weekly statement OF the Federal Reserve
on brokers' loans showed an increase of
$4,000, 600 to 62,O00,O 900 during the
week ended November 2. This COM
pares with the low of 1891 100000 on
July 81 and with se4s, 100000 on No
vember 4. 1881.
Loans for own account amounted to
S343 0000 900 compared with 1882 100000
a week ago. Loans for Cut-of-town
banks were Sl3,O0O000. against S15,000,-
900 last week and loans for account of
others totaled $4,000 900. against S.
100000 Demand loans constituted
s205 100000 of the total, compared with
s199 9,G00O 600 last week, and time loans
were sl57O00,000, againet sl53o0o,000.
The New York Federal Reserve dis
trict rediscount rate remains unchanged
at 2l2 per cent.
Evening star., 1932-11-05

volume upnd wholesale trade @ limited p Plate
tableware and specially lines sunuaeo
political uncertainties operat-
of mills
upgrade building operations the lowest OF the year - -
production expands sHehy Dy
easing off, industrial
tiyivc on schedules
automobile
1888 seel
largest in output doubled 1881
retail trades fairly active but below
denatnen factories operating
with reduced forces exceedingly low
activity municipal
department featuring
with soil for Winter months
grain weak demand Tor seasonape
weather; sentiment continues
optimistic.
conservative retailing below ex
curtaled; produce prices advance
labor poorly employed collections back
ward. .-,- a.ou,r. xo,u
relief for unemployed cold weather
seasonal activity.
slightly accelerated retail apparel
further wheat
decne manufacturing continues crtaied
slightly active political
wholesale RETAIL building Dormant wheat
in history.
volume at RETAIL
Mississippi
River Channel; of exceedingly
Inactive shoe production redes
mills operating reduced and food
gradual decline.
ST. delivery fair; department
sgh honda
trade fair.
dunes characterizes
industry
tinues to proposed retail sales meets much opposition
Evening star., 1932-11-05
FEDERAL RESERVE
CREDIT ITEM GAINS
Increase of $4,000, 1000 Is Reporte
for Week Ending November 2.
Bill Holdings Gain.
BY the Associated Press.

The daily average volume of Federal
Reserve Bank credit outstanding during
the week ending November 2 was re-
ported by the Federal Reserve Banks as
50 226, 100000
This was an increase of S9,O00,000
over the preceding week and of S54,-
coo, coo compared with the correspond
ing period last year.
On November 2 total Reserve Bank
credit amounted TO 50 226000,000. an
increase OF $4,000 900 for the week. This
increase corresponds with increases of
$50 000, 600 in money in circulation and
S!0,000,000 in uneXpended capital funds.
non-member deposits, etc. offset in
part by a decrease of S28,000,000 in
member bank reserve balances and in
Creases of 100000 in monetary gold
stock and s20OO,O00 in Treasury cur
rency. adjusted
Holdings Of discounted bills increased
So coo 900 at the Federal Reserve Bank
of Cleveland and S4.000,000 al all Fed
oral Reserve Banks. The systems hold
ings of bills bought in open market and
of United States securities were prac-
tlcally unchanged.
Evening star., 1932-11-05
AMERICAN DOLLAR
POSITION STRONG
U. S. Currency Declared In
pregnabIe to Sources
Outside of Nation.
By the Associated Press.

6y the Associated Press.
1t becomes increasingly evident that
the integrity of the American dollar
can come to no harm from sources
outside the United States.
This conclusion is reached in au-
thorltative private circles which declare
that foreign monetary interest in the
dollar is practically nil. They add that
European commitments in American
securities are SO small as to be almost
negligible, and European Central Banks
have practically no funds in this coun-
try. while private European banking in
stitutions have practically ceased to
find channels of investments for their
liquid assets in this country.
Thus, these assertions being correct,
it is seen that the United States is in
utter control Of any movement that
can possibly affect the American dollar.
Advices from France, which is the
only gold competitor of the United
States, reveal that no authority in
Paris believes that European banks
have any considerable amount of funds
in New York. Furthermore, these same
authorities declare that recent with
draWals could not have reached any
considerable proportions based on the
valume Of dealings on the exchange
market.
A dispatch from London coming to
the attention of the Federal Reserve
Board expresses the belief that the
weakness of sterling contributed to re-
cent doubts about the dollar. Beyond
seasonal purchases Of raw materials and
the cheapness of money in Lombard
street, no reasons for this weakness are
advanced in Paris. where however, the
belief prevails among bankers that the
British government is by no means op-
posed to seeing a further stimulus
offered to its export trade by the ex-
changes" the advice said.
1t added that the steadineSs Of the
dollar against sterling, in contrast with
its weakness against the franc, may or
may not be due to the purchase Of
American currency by the exchange
sterilization fund.
Evening star., 1932-11-05
Extent of Decline.

NEW YORK. November 5 (P).-Be-
tween July and September there was
an average advance of 38 points in so
selected stocks Of this gain 20 points
have now been wiped out, representing
a loss of So per cent of the two months
advance. The vulnerable point IN the
market is the low average of october 10.
which was still about point below the
level at the opening today. 1t was
strongly impressed on the street this
morning that the immediate future OF
the market depended on its ability to
hold above the October low level. A
break through this would undoubtedly
lead to further speculative selling, II
not to some liquidation.
Evening star., 1932-11-05
Railway Stock at 5 Cents.

BALTIMORE, November (SpeciaD.
For the first time this year the COM
mon stock of the Washington, Baltimore
& Annapolis Electric Railway appeared
on the board of the Baltimore Stock
Exchange today, selling at cents a
share. The low for last year was 20
cents. Pennsylvania Water & Power
rose a point to 81 and Maryland Cas-
ualty a quarter point to Az. United
States Fidelity & Guaranty remained
firm at AZ and Arundel at l8%.
Evening star., 1932-11-05
Markets at a Glance

NEW YORK, November 5 [P,.-Stocks
steady; tobacco and alcohol issues rally.
Bonds steady; rails barely firm. Curb
steady: changes narrow Foreign eX-
changes irregular; sterling firm Cotton
higher; trade and Wall Street buying:
higher cables. Sugar steady; trade
buying. Coffee easy: European selling
Evening star., 1932-11-05
Iron Ore Shipments.

NEW YORK, November S R.-Ship-
ments of iron ore from upper lake ports
fell heavily in October, totaling 926,561
tons, compared with 3,O94,424 in Octo-
Der, 1881. Shipments for the season
10 November l amounted to 3,317,716
tons, compared with 3,047,192 in the
Nike 1881 period
Evening star., 1932-11-05
U. S. TREASURY BALANCE.
By the Associated Press.


Treasury receipts for November 8
were S9,327217.62; expenditures, ST.
O77.32652: balance, S744, ,261 ,804.36. Gus
toms duties for three days Of November
were s., 3,382, ,l70.51.
Evening star., 1932-11-05
Market Letter in Greek.

NEW YORK. November 5 (PO.-The
lat-st in Wall Street is a market letter
written in Greek 1t has been compiled
b. prominent brokerage house Tor dis
tribution to Greek clients.
Evening star., 1932-11-05
New Bond Offerings

NEW YORK. November 5 (P).-New
bond offerings in the New York market
this week toteled $21,500,000, compared
with ST 1,544,0O0 a week ago and S5,O0O,-
900 a year ago.
Evening star., 1932-11-05
Trade Reports at a Glance.
BY the Associated Press.

BY
NEW YORK wholesale retail
the follow
conditions the
rth sDOndin pweekl last wear:
Evening star., 1932-11-05
DIVIDENDS DECLARED

NEW YORK, November 5 (R).-
Reduced.
Pc Pay Hldrs Of
Company Rate riod. able. record.
Prov Blk of Can 50 @ Dec. l Nov. 10
Omitted,
Evening star., 1932-11-05

Dividend given in tables
hayearly deca
rations
Unit OF trading less than 100 shares tPsrty extra ;Pu
in regular Payable III
Plus SO stock. Plus 2%
preferred Plus 81
regular Plus 81 IN stock Payable
4 dividend.
Evening star., 1932-11-05
Total of all liabilities. ....... $9Ot

Dividends paid during last none
Dividends paid prior thereto none
Total dividends paid to date. none
Cash on hand. ..........:. Sl2l,ot .t,a t;Sa
The report makes no reference 10 lle
date when anv disbursements may be
paid to depositors or, Of course. to
amounts. The statement makes it clear,
however that the receiver still has
long way to go before the banks affairs
will be finally settled.
Evening star., 1932-11-05
Total Of all assets coming into
the hands of the receiver. Sill 1S,S67.65

LIABILITIES.
Total claims proven on un- ann oo-
.rotaI nnproven unsecured claims AGA ,3S6.06
Total secured liabilities out
standing unpaid ..... none
otaI TotaII bilis psvable unpaid 107,463. go
Total additional liabilities
proven ...............' iioiie
Evening star., 1932-11-05
NEW YORK BANK STOCKS
NEW YORK, November S [P.-Over-
The counter market:

Quotations as of 10 o'clock
RANKS. Rid
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1932-11-04
Young Rockville Boy Is
Injured By Automobile

Harry Beall, Jr., 5-year old son of
Harry Beall, Rockville insurance
agent, was injured Monday night
when he was struck by the automobile
of David Clagett, also of Rockville,
on Montgomery avenue, near Potomac
Road.
Mr.. Clagett took the boy to DR.. C.
E. Hawks who found that he was
suffering from a broken leg and pos
sible fracture of the skull. The lad
was then hurried to Montgomery
County General Hospital, where x
Rays revealed a fractured leg but no
skull trouble.
According to eye-witnesses, the ac-
cident was unavoidable. The boy was
said to have darted out from behind
a street car directly into the path of
the automobile. Two other youths
playing with young Beall escaped in
jury in the accident.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1932-11-04
Mr.. And Mrs. C.E. Becraft
Hold Reception For Pair
Who Were Recently Wed

Approximately 100 invited guests
including a large number from Wash
ington and Baltimore were present at
the reception given by Mr.. and Mrs.
c. E. Becraft at their home on last
Thursday evening in compliment to
their son-in-law and daughter, DR..
and Mrs. Frank Lanahan who were
recently married in Hagerstown.
The house, which was attractively
decorated for the occasion, had the
color scheme of yellow and gold also
carried out in the refreshments.
Those extending congratulations to
Dr. and Mrs. Lanahan from Gathers
burg were Mr. and Mrs. Byron
Sigafoose, Dr. Frank Broschart, Mr..
and Mrs. Roy Talbot, Mr.. and Mrs.
Clarence Becraft, Mrs. Ethel Mills;
Mrs. May Briggs, Miss Armenia
Briggs and Mrs. VIM. McBain.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1932-11-04
Bicentennial Tree
Planted At Home
For Methodist Aged
Gaithersburg N Ell g hb o r hood
Garden Club Sponsors Me-
mortal To George Washington

Planting of living memorials to
George Washington in the form of
trees was Landed Wednesday in the ad-
dress of the Rev. Herman M. Wilson
superintendent Of the home, at the
planting of a Bicentennial tree, under
the auspices of the Neighborhood
Garden Club of Gaithers5urg Wednes-
day at the Methodist Home for the
Aged and Orphans at Gaithersburg.
DR.. Wilson said that trees are an I'M
usually fitting memorial to Washing
ton because of his love for trees.
The tree was planted by Miss Louise
Hinton, who lives at the home, with
the spade used in breaking ground for
the Epworth Hall of the home in 1928.
Miss Hinton was named for Mrs.
Louise Hawkins Washington, who was
the daughter-in-law of Samuel Wash
ington and was born on the latter's
estate, Harwood, near Charleston, w.
Va.
The invocation was given by the
Rev. Frank A. Tyler, pastor of Grace
M. E. Church South, and the bene-
diction by the Rev. J. E. James, pas
tor of the Epworth M. E. Church,
both of Gaithersburg. The presenta-
ton of the tree was made by Mrs
Clyde E. Thomas, president of the
garden club, and was accepted by DR..
Wilson. Music was furnished by the
Gaithersburg High School Orchestra
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1932-11-04
Grace Church Class Has
Election Of Officers

The reelection of the entire slate
of officers combined with an interest
ing program by some of the class
members were the principal features
Of the October meeting of the G. r. o.
w. class of Grace Church which met
at the home of Miss Gussie Pace,
teacher, on Wednesday afternoon last
with fifteen members in attendance.
At the business session conducted
by Mrs. Albert Clagett, president, the
class decided to serve luncheon in
the church hall on Wednesday Nov.
8, at ~ o'clock cost of same to be
35 cents, with the following committee
in charge; Mrs. W. d. Robertson,
Chairman, Mrs. Ernest Johnson, Mrs.
Charles Mansfield, and Mrs. Mildred
Towner.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1932-11-04
What Has The Farmer To Show After
Four Years Of Hoover Prosperity?

After four years of Hoover prosperity what has the
Farmer to show?
With wheat selling at 80 cents and eggs and chickens
cents under the quotations for 1881 what tah mas the
Farmer in Hoover's business ability?
With his farm being sold for taxes and barely able to
exc out bare existence from the SOIL what can the
Farmer do but vote for change in government?
How can the Republican party account for the follow
ing expenditures with farm products priced lower imam
ever before in a lifetime?
Five hundred million dollars promised and delivered
to the Federal Farm Board by President Hoover.
salary of $4,000 to the man handling the cotton
transactions to the handling wheat-$o5OOO
and $4,000 to other agentstraveng expenses and sal
aries reported by the Board have toaled more imam Sooo
600 in year.
All exorbtant sums paid out for nation to gamble
on the markets while the Farmer pays the bill with 5Ocent
wheat.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1932-11-04
Roosevelt Picture Is
Torn Down By Local
Vandals In Spite

The tearing down of the picture
of Franklin D. Roosevelt from the
Sentinel Office sometime last night
is another noteworthy and repre-
sentative example of the acts being
pefpretrated in the campaign of
fear carried on by the Republican
party. No one has bothered the Re-
publican headquarters in Rockville,
for the Democrats are above that
sort of hoodlum conduct.
Over and above the political
angle of the affair looms the law
which protects the destruction of
private property. Fair-minded and
thinking people will deplore such
efforts as being not only extreme
examples Of political spite work,
but actually criminal in their incep-
ton and accomplishment.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1932-11-04
School Enrolment
Shows Increase OF
821 County Pupils
Damascus White Oak And Clag.
ettsville Lead In Attendance
For September s

In announcing the school attendance
for the month of September, the an
nouncement is also made from the
Board of Education Office of an in
crease of 821 in the pupils enrolment
during the month of September over
the September enrolment of last
year. The increase is represented by
722 children in the white schools and
SO children in the colored schools. The
increase in enrolment was estimated
at around 400 more pupils, since the
enrolment increase has recently rang
ed between 400 and 900 per year in
the County.
The per cent of attendance by
schools is arranged in order as follows:
One-Teacher School
Clagettsville, (Banner), 9S.2; Kings
Valley, 9S.1; Unity, 97.7; Brookeville,
97.6; Woodfield, 97.6; Ounce Orch
ard, 97.2; Mt. Lebanon, 96.6; Clarks-
burg, 96.3; Boyds, 96.3; Lewisdale,
96.9; Hyattstown, 95.1; Etchison, 93.9;
Kingsley, 93.7; Slidell, 92.2; Burdette,
92.2; Derwood, 92.0; Brighton, 90.7;
Comus, 90.2; Snouffers, 1872.
Graded Schools
Damascus (Banner) 979; Bethesda,
97.8; Somerset, 97.8; Poolesville, 97.7;
Chevy Chase, 97.6; Potomac, 97.6;
Kensington, 976; Woodside, 97,6;
Germantown, 97.4; Falkland, 97.3;
Colesville, 97.3; Sandy Spring, 97.3;
Sandy Spring, 97.3; Silver Spring,
96.s; Gaithersburg, 96.7; Rockville,
1854; Takoma Park, 95.8; Chevy
Chase, 95.7; Glenmont, 94.9,
TMozTeaeher Schools
6Coles5rttsviIlr6666( en- en- en- cmcc
White Oak (Banner), 1913; Garrett
Park, 9S.S; Montrose, 97.4; Redland
$40; Burtonsville, 1854; Bailey, 961;
Laytonsville, 95.9; Washington Grove
$50; GAINESVILLE, $50; Cedar Grove
1854; Travilah, 94.7; Jamestown, $50;
Dickerson, 1926
7th and Sth Jr High
Damascus (Banner), 9S.5; Gathers
burg, 98.3; Sandy Spring, $50; Rock
vile, 97.7; Bethesda Chevy Chase,
I97.4; Takoma- Silver Spring, ga;
Poolesville, 973.
9th Grade Jr. High
Poolesville (Ban. Y MOI, 1856;
Gaithersburg, ban. Y NO., 98.6;
Damascus, 97.9; Takoma-Silver Spring
1915; Rockville, 97.2; Bethesda Chevy
Chase, 1914.
Senior High School
Damascus (Banner), 1856; Pooles-
vile, 98.4; Takoma-Silver Spring
979; Bethesda Chevy Chase, 97.5;
Sandy Spring, ga; Gaithersburg,
96.8; Rockville, 96.6.
County Average
Elementary, 96.7; High School 97.3.
Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1932-11-04

1t is pointed out that the farm
vote in Montgomery County is par
ticularly hostile to Hoover. The
Federal Farm Board and the Haw-
ley-Smoot Tariff is blamed for the
collapse of farm prices and the in
creasing number of farm mortgage
foreclosures.
Democratic leaders say that the
failure of Hoover's prophecies as to
the decrease of unemployment has
hurt the G. o. P. immeasurably in
this county. slime and time again
in the past two years." they say,
Hoover has assured the masses that
prosperity is just around the corner
and that every laboring man will be
taken care of with a job. These pro-
phecies have always proven false"
"The farmers of the county are
indignant over the fact that the
Hoover administration created and
placed into operation the Federal
Farm Board, with its millions spent
in salaries to high-priced officials