davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-06-24
AUTOMOBILE CENSUS
FIGURES ANNOUNCED
By the Associated Press

BY the Associated Press.
A statement by the Commerce De-
partment indicated there was auto
mobile to every 56 people in the world
In 1881 The United States boasted
car to every people, followed by
Hawaii with / for every 7. Canada
and New Zealand tied for third place
with l for every people.
Australia had / car for every IL per
sons, while the Principally Of Monaco,
insignificant as a market, was fifth
among the countries of the world, hav-
ing / for every IA inhabitants. France
had l for every 26.
Germany, Italy. Spain Greece, Hun
gary and Rumania have a ratio greater
than l automobile to every 81 persons,
while such countries as China Egypt,
India, the Philippines, Turkey and
many Latin American nations have a
ratio in excess Of car TO every ISL
persons.
The combined ratio Of cars TO popu-
lation in all countries outside OF the
United States was / to 20l, a. COM
pared with / TO 200 In 1890.
Evening star., 1932-06-24
FEDERAL RESERVE
CREDITS EXTENDED
Increase of $4,000, 900 Is
Reported for Week Ended
June n.
BY the Associated Press.


The daily average volume Of Fed
eral Reserve Bank credit outstanding
during the week ending June ~ was
reported today by the Federal Reserve
Board as s2,2s5, 900 900, an increase Of
$50 200, 900 compared with the preced-
ing week and OF si.33s, 900 900 COM
pared with the corresponding week
in 1881.
On June "a total Reserve Bank
credit amounted to s2,288, 900 900. an
increase Of $4,000, 900 for the week.
This rise corresponded with an in
crease of s38,000,000 in money in cir
culation and a decrease OF $50, 600, 900
In Treasury currency. adjusted. 1t
was offset In part by gain OF So
1000 in monetary gold stock and
decreases of t35, 600, 900 in member
bank reserve balances and $40, ,000, 900
In unexpended capital funds, nom
member deposits, etc
Holdings Of discounted bills increased
81, ,000, 900 at the Federal Reserve Bank
in Chicago and $3,000000 at San
Francisco Decrease OF Sl4 900 at
Cleveland. s3000,000 each at Kansas
City and Dallas and $4,000, 900 at all
Federal Reserve banks combined were
reported.
The systems holdings Of bills
bought in open market decreased $l2,-
00o, 900, holdings of United States
Treasury notes increased 30,000. 900
and OF Treasury certificates and bills,
90, ,000, 900
Evening star., 1932-06-24
ADVANCE IN SUGAR
FUTURES RESUMED
Reports of Pool Plans by Cuban
Institute Result in Heavy
Buying in New York.
BY the Associated Press.

BY the Associated Press.
NEW YORK, June 24.-Another
spirited advance in the price Of raw
sugar futures marked the early trading
in that commodity today.
Stimulated by reports that the Cuban
Sugar Institute had agreed in principle
TO the formation of a pool to take q
large quantity of sugar of the market,
traders bid actively for contracts. caus-
3-10Oths Of a cent q pound. The july
option sold at 88-100ths of a cent
pound compared with its recent low of
5s-l00ths. December changed hands
at l.02 cents against q low of II l-100ths.
Corresponding strength was displayed
in the market for spot raw sugar,
though early transactions were light.
Evening star., 1932-06-24
CHICAGO LIVE STOCK MARKET

CHICAGO, June "a LI9 UNITED States
Department OF Agricultural -Hogs-
Receipts, IL 900 head. including 1000
direct; active, Is to as higher; 180-250
pounds, 4.30a4.40 top. 4.50; 260-3l0
pounds. 4.15a4.35; 140-170 pounds, Asa
4.4o pigs. 3.75a4.0o; packing sows,
3.25a3.60; smooth sorts to $50; light
light, coed and choice. 140-160 pounds,
4.loa435; light weight, 10000 pounds,
4.25a450; medium weight, 200-250
pounds, 4.soa4.60; heavy weight, $50
$50 pounds. 4.0oa4. 40; packing sows,
medium and good, 27Sa50o pounds, 3.10a
$50; pigs, good and choice, 100-l3O
pounds, 360a4.0o.
Cattle-Receipts 1900 head; calves,
500 head; fed steers and yearings about
steady; moderately active, but grassy
kinds very dull no choice offerings here;
best in load lots, ITO; part load. 7.25;
grass steers and grassy cows and heifers
weak to Is lower; others steady.
Slaughter cattle and veales: Steers,
good and choice, 600-S00 pounds, elsa
8.25: cool 100 pounds. 700a8.25: 1.l00-
1900 pounds, 700a825; 1.300-l 500
pounds. 7.00aB 25; common and medium,
600-l 800 pounds, 4.25-700.
Heifers, good and choice. 550-850
pounds, 5.75a7 90; common and medium,
3.50a6.00; cows, good and choice 3.00a
500; common and medium, 2.5oa3 rs;
low cutter and cutter, l50a2.50; bulls
(yearlings excluded. good and choice
(beef), 325a475; cutter to medium,
275a340: vealers milk fed, good and
choice 6o0a700 medium, 5.50a6.00;
Gull and common, 4,o0a5.50; stocker
and feeder cattle, steers. good and
choice, 500-1, ,O50 pounds, 50oa625;
common and medium, 325a5.00.
Sheep-Receipts, 5000 head un-
changed; clearance practically com.
plete; good to choice native ewes and
wether lambs, 600a6.25 to packers;
few closely sorted lots 6.50a675 to out
siders: rangers and fed yearlings alb
sent; lambs. 30 pounds down, good and
choice. 6.00a6.75 medium, 500a6.00; all
weights. common, 400a5.0o; ewes go
$50 pounds. medium to choice. 1.00a
2.25 all weights. Gull and common,
50al75.
Evening star., 1932-06-24
Grain Market
STOCK and
@a.nA-.A q .
BY the Associated Press.

BY the Associated Press.
CHICAGO, June 24.-overcome By
bearish influence Of the course OF securi-
ties. grains turned downward today
after an early display OF flrmness
Aside from anxiety about black rust
menace and relative to grasshopper
damage. crop reports continued favor
able both as to the American and
Canadian Spring wheat outlook. Export
demand for North American wheat re-
mained slack.
Wheat closed heavy, asa& under
Yesterdays finish; corn. 1kA1a down;
oats, "a of. and provisions, unchanged
to a rise OF 90
Evening star., 1932-06-24
Higher Coal Output Seen.

NEW YORK, June "a (P.-The Ma
tional Coal Association estimates BIZ
luminous production in the United
States for the week ended June 10 at
4,l00, 900 tons, compared with 3975,0 900
tons In the preceding week and $685.
900 tons in the corresponding week in
1881,
Evening star., 1932-06-24
Markets at a Glance

NEW YORK. June "a (P.--stocks
weak; pivotal shares touch new lows.
Bonds irregular. rails sag. Curb heavy;
utilities wax. Foreign exchanges easy;
sterling declines Cotton lower; favor
able weather; easy stock market. Sugar
steady; commission house selling. Coffee
higher; trade buying.
CHICAGO. June "A GP)-Wheat
barely steady; beneficial rains Canada;
moderate. hedge selling Corn barely
steady optimistic crop news; sympathy
wheat. Cattle steady to lower.
Evening star., 1932-06-24
DOLLAR GAIN RESUMED
IN EXCHANGE MARKET
Rv the AsanciAted Press.

q
NEW YORK, June 24.-Following its
mild recession OF the past two days. the
dollar braced itself in the foreign ex-
change markets yesterday and with Few
exceptions advanced against other cur
rencies. British sterling declined "A
cent to $36l& for cables. French
cables we're 1-16 point lower to 3.93 7-l6
cents. The belga was of l point to
1892 cents. Swiss was of / point to
point to 1s.47h cents. The Holland
Tuilder was an exception to the general
trend, advancing \ point to 4o.3712
cents.
There was q slump in japanese yen,
which closed at an all-time low OF
27.87lS cents for cables.
Evening star., 1932-06-24
New York Cotton

Special Dispatch to The Star.
NEW YORK. June 24.-Cotton prices
eased of about points today under
favorable weather over most of the belt
and Influenced by weakness in the stock
market. The volume OF business was
light, with enough July liquidation to
ease the tone. Spots were unchanged
at $50.
Cnttnn range.
Evening star., 1932-06-24
BALTIMORE STOCKS
Plant Schedule Increased.

NEW YORK, June "a P).-Buick
Motor Car Co. has increased its July
schedules because of an increased de-
mand and a more encouraging outlook
for Midsummer sales.
Evening star., 1932-06-24
PARIS BOURsE PRICES.

PARIS, June "A C41.-'rhree per cent
rentes, "a francs 20 centines. Five per
cent loan. 81 francs so esntimes.
Exchange on London. 81 francs So
centimes The dollar was quoted at IS
francs 43H centimes.
Evening star., 1932-06-24
Unlisted Department.
Gasoline Price Advanced.

NEW YORK, June "A 0P-The
Standard Oil Co. of New Jersey has ad-
Vanced the spot tank car price Of saso-
fine Is cent 4 ra1lon at all points in It's
territory except in New York.
Evening star., 1932-06-24

The first section OF the highway con-
Meeting Adds Ababa and Jimma was
opened recently by the Emperor Of
Ethiopia.
Evening star., 1932-06-24
CHICAGO STOCK MARKET

CHICAGO. June "a (P).-Following
is the complete ofi1cial list OF transae-
tions In stocks on the Chicago Stock
Evening star., 1932-06-24
Fret Mortgage Loans

Lowest Rates Of Interest and Commission
Thomas J. Fisher q Company, Inc.
Evening star., 1932-06-24
Washington Stock Exchange
SALES.

GALEc.
Potomac Electric Cons, $4,000 at
102.
Washington Gas IS "A"-Sl 900 at w,
81 900 at go, $1,000 at SO, $1,000 at
80. $1,000 at pe. ~.
washington Gas 5s-sl 900 at 1oo%,
Potomac Electric 51a% pfd.--lo at
1924. 10 ct 1924. .-
Bid and Asked Prices.
Evening star., 1932-06-24

Diyidsnd rates in dollars based on last
diyldsnd fPartiy sltsa spi1s S.yH:ns n ..ceF
aPsyasls IN cash Or stock. o PayablS IN
IN stock Plus 81 in stoeE. h fius IL
IN !, Stoss Plus 2ss in stock. Plug ios.
stock Paid last year-no regular rata
Evening star., 1932-06-24
kt. COId StOrAEe 5s...s ~ ~
= STOCKS.
PUBLIC UTILITY.
NATIONAL BANK.

The following figures are not bids, bu
merely represent minimum prices nxeo o.
the Washington Stock Exchange
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28
time ON INSURANCE
REPORTS EXTENDED
Stock Firms in Virginia Are Given
Additional Opportunity to Com
plete Their Records.
Special Dispatch to TIE Star.

Special Dispatch to The Star.
RICHMOND, Va, May 28-Time
allowed stock fire insurance companies
operating in Virginia to keep records
by zones and in each city and county
in the State and to make annual re-
ports of such records to the State
Corporation Commission, was extended
by the commission from June 80, 1882,
to December 81. 1882.
A previous extension from December
81, 1881, to June 80, 1882, had been
allowed.
These extensions are due to the fact
that appeal of the companies from an
order of the commission substantially
reducing fire rates in Virginia and re-
curing such records to be kept, is still
pending before the State Supreme Court
and probably will not be argued until
the November term of the court.
Investigation of fire rates, which re-
suited in the ordering of a reduction,
grew out of a resolution offered in the
Legislature several years ago by Repre-
sentative Wilbur C. Hall of Loudoun.
If upheld by the appellate court the
reduction will mean an annual saving
of nearly million dollars in premiums
to policy holders.
Application of Ashby B. Strother,
trading as Colonial Beach & Dahlgren
Bus Line, for authority to operate pas
senger service between Colonial Beach
and Dahlgren was dismissed today by
the State Corporation Commission.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28
Washington Produce

Butter-One-pound prints, SO score,
%; 80 score, 81: standards, 10; tub, 50
score, 81; 81 score, 20; standards. 10.
Eggs-Hennery, IA: current receipts,
70.
Poultry. alive-Turkeys. young hens.
18; toms, IL. old toms, IL: crooked
breasts, IL: Spring broilers. colored,
IL to 2 pounds. 20; Plymouth Rocks.
2 to 21a pounds. 81 Plymouth Rocks,
3 pounds and over. Is: Leghorn broil-
ers. IL pounds, IT; pounds and over.
10; hens. medium, 15a16; large, 15a16;
Leghorn hens, 13a14; ROSTERS. 3;
keats. young. 40a5o; old, 3oa40: Winter
chickens, 18a20; stays. r..
hens, 81: young toms, ID; old toms. Is:
crooked breasts, Is: Spring broilers,
colored, liz to 2 pounds. %: Plymouth
Rocks, 2 to 21a pounds. rs: Plymouth
Rocks. 3 pounds and over. %: Leghorn
broilers, IL to 2 pounds. 20: 2 pounds
and over, %; hens, medium, 18a19;
large, 18a19; Leghorn hens. 15a18;
ROSTERS, IL; keats. young, 60a70; old,
s0a40; Winter chickens. 21a23: stays.
Is; Long Island ducks, 15a16.
Meats-Beef. 11a12; lamb. Spring,
15a16; veal, 10a11; pork loins, 11al2;
fresh hams, 12a13; smoked hams. II;
strip bacon, 15a16; lard, Z; COM
Live stock-Hogs, light and medium.
$50: heavy. 1925; pigs, 3.00a3.50;
roughs, 150a250; calves, 3.00a5.00;
lambs. 400a6.50.
Fruits Watermeions, 35a60: canta-
loupes, jumbos, $50: standards, 400;
pony, 500; strawberries, 1.00a3 co.;
cherries, 2.25; apples, bushel baskets.
75aI IS: fancy oox stock, 1.50a2 .25;
pears, 3.50a4.O0; pineapples, 2.50a2. IS;
grapes, Almerias, 800: alligator
pears, 800: oranges, California, 3.O0a
$50; Florida, 350a4.00; lemons, 6.00a
$50: lines, per 100, 200; bananas, .25a
$50; honeydews, 3.50a3.75: grapefruit,
3.25a3.50; rhubarb, per dozen punches.
h0a60.
Observation-Disclosures, new, per barrel.
4.OOa450; old, 100-pound sacks, lbs;
Idaho bakers, 250a2.75; sweets, per
bushel, 75a1 90; tomatoes, Tugs, 25Qa
400: repacks, Span crates, 2.00a2 IS;
peas, LOCAL. so; string beans, LOCAL so;
limas, 400a5. 90; squash, 3.0Oa3.50; egg
plant, 2OOa2. so; turnips, IS; asparagus,
1.OOa2.00; cucunbers, bushel baskets,
2.O0a400; spinach, 75a1 90; kale, 40a50;
mushrooms, 50a1.00; cabbage, 100; Gel
cry, $50; okra, 400;- artichoke, 400;
caulifower, 2.25a2.50; squash, yellow,
LIS; beets, per 100 punches, 4.00a5.00;
carrots, per 100 bunches, 4.00a5. 90;
corn. 400; peas, 75a1.00; string beans,
LOCAL. Is.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28
Baltimore Markets
Special Dispatch to The Star

Specidi DiSpalcl 10 Inc star.
BALTIMORE, Md. May 28.-White
potatoes, old, 100 pounds, 75a95: new,
barrel 2.00a5.00; sweet potatoes, bushel,
50a75: vans barrel, 1.25a1 so; aspara-
gus, dozen, 50a225; beans, bushel. 75a
l.50; beets, crate, 1.25a200: cabbage,
hamper. LOCAL 25; carrots, crate, 25Oa
800: cauliflower crate 125a1 so; celery,
crate. l.50a3.00: cucumbers. bushcl.
1.00al.75; kale. bushel, 20a40; lettuce,
bushel. 50a100; onions, per 100, 4Oa
rs; peas. bushel, LOCAL 25: peppers,
crate. 1.25a3.00; rhubarb. 100, l00a
800; spinach bushel, 20a40; radishes,
100. LOCAL. so; squash, bushel, l.25a
400: tomatoes. crate. 3.00a425; apples.
bushel, 75a200; grapefruit, box, 3OOa
4.25: oranges box, 3.0oa475; etraw-
berries, quart, 5a12; cantaloupes, crate,
1.50a425.
Dairy Markets.
Chickens, young. 18a24; Leghorns, "a
al8; old hens. 13al6; Leghorns, old
12al4: ROSTERS 8al0; ducks. Sale;
guinea fowls, 3oa55; pigeons. pair.
20a25.
Eggs. receipts. 3,21s cases; current
receipts. 12a1212
Butter, good and fancy. creamery
18a20l2: ladies, Halls; process, 16a17;
store packed. 10. -.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28
By the As sociated Press

by tne Associated freSS.
NEW YORK, May 28-The New York
Stock Exchange is described by Richard
Whitney, its president, as nothing but
market place where purchasers and
sellers OF securities may meet and
through the law of supply and demand
determine market prices Of securities"
The 43-year-old executive, recently
elected fer his third successive term. in
those words sought to dispel the web of
intricacy that, in the eyes of many per-
sons, ,envelopS his organization, the
largest market place in the world.
1t is this web Of intricacy that a
Senate committee is now attempting to
peer behind to discover the effects Of
short selling.
Exchange Rules.
In defense of the exchange, Whitney
argues that the rules of the organization
go very much further than the laws of
the State; that an infringement of
these rules means expulsion; that the
minimum commission charges fixed by
the constitution of the exchange are
lower than the commission charges of
brokers in any other business; that
short selling is legal and has been de-
clared so by the Supreme Court of the
United States. and that a recent list
CT shorts included persons from every
State in the United States except two,
with many foreign countries repre-
scented
Whitney is particularly vehement in
denying that it profits broker to have
his clients lose money
People overlook the fact that the
great depreciation in the value of securi-
ties has brought huge losses to brokers
as well as to the public In addition
the brokers have suffered an enormous
decline in the value of their Stock Ex-
change memberships. In 1929 member
ships sold as high as S625.00O; recently
they sold for $4,000 The member
ship list is restricted to 1875 seats.
Whitney believes that speculation is
necessary not only to the economic de-
velopment OF our country but to every
form of business activity as well. But
other forms of speculation. he says. have
not come within the focus of the public
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28
EXCHANGE HEAD SEES FAILURE
OF EFFORT TO CURB SPECULATION
Whitney Believes Any Legislative Attempt
to Regulate the New York Securities
Market Will Be Futile.

eye since liquidation of stocks and bonds
began late in 1929
Speculation plays a part in every
business" he holds The merchant
who buys raw materials is specializing
on the probability that he will get
orders which will allow him to manu-
facture the raw materials into products
that the public will want to buy The
farmer also is a Spectator. specuiat-
ing not only upon the quality of the
grain that he SoWS, but also upon the
weather and his ability to sell his
crop if it ripens and is harvested"
Price Fixing.
Discussing possible outside legisla-
ton enacted to regulate the New York
Stock Exchange, its president says that
any restrictions which hamper either
the buyer or seller of securities create
an artificial market which ultimately
Is bound to collapse"
Many efforts have been made in the
past to fix prices by regulation, he eX-
plains, adding that without exception
they have failed. and in every case
have brought about disorganized and
disastrous conditions
He cites the example of England
which, few years ago, attempted to
fix the price of rubber; the efforts of
Brazil to fix the price of coffee: of
Cuba to fix the price of sugar. and of
our own Government with regard to
wheat and cCtton-al proving. he said.
That interference with free market
Is bound to end in disaster.
Free market he says, means a
market that is not subject to restric-
lions which would prevent the law Of
supply and demand from determining
prices
Whitney believes that neither the
present economic depress on nor anv
other can be cured by legislation. "A
revival in business activity alone can
cure our present troubles" he says,
land business will revive much more
rapidly if it is not overburdened by
taxes and legislative regulation" When
recovery does set in he expects the
stock market not only to reflect this
changed condition, but to anticipate
better times as soon as there is any
indication that business is reviving.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28
COMMERCIAL BANK
STATUS DISCUSSED
Question of Interstate Com.
merCe and Federal JuriS.
diction Is Raised.
BY the Associated Press.


Whether commercial banking is a nee
essary instrumentality of Interstate
commerce and, therefore, comes within
ment whenever it chooses to exercise
its authority is an important newly
raised question.
In paper submitted to the American
Economic Association by Walter E.
Spahr Of New York University this
theory was suggested as a possible cor
receive for present ills in the banking
structure. The speaker told the asso-
citation search through legal records
has not revealed any case in which the
United States Supreme Court has held
that commercial banking is not inter-
state commerce.
1T would seem. therefore, that if
such a question could come before the
United States Supreme Court" he said,
straight reasoning would compel the
court to rule that commercial banking
Is interstate commerce. In any event,
it appears highly probable that the
court could rule quite reasonably that
commercial banking Is necessary in
strumentality Of interstate commerce.
Regardless of the merits of the Ques-
ton of constitutionality, Spahr said the
way of progress does not lie in abstain
ing from undertaking what appears
necessary and proper because of some
supposed constitutional obstacle Let
the changes be made" he said, land
the issue be tested in the courts. If
the Constitution is violated. amend the
Constitution. A sound banking struc-
ture is of far greater importance to a
people than the adherence to a consti-
tutional provision that prevents the
making of changes necessary to meet
present. day problems
Mr. Spahr said an additional argu-
ment in favor of Matchmaking all COM
mercial banks is that it is hardly ra-
tional to expect much progress by wait
ing for AZ different legislative bodies to
agree upon and pass sound and pro-
gresSive legislation. A fundamental
purpose of the Federal Reserve System
was to provide a national policy and
system, but he said it cannot be made
effective with the present organization
of our commercial banking structure,
but only through national law
In this connection he explained that
business cycles are national in scope as
are the problems of credit control:
commerce is interstate and international
in nature: the problems of proper
reserve structure are national and even
international in their ramifications and
such questions. therefore. can be dealt
with adequately only by governmental
body with the proper jurisdictional au-
thOritv
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28

BANKERS ASSOcld-
ton. reports there
has been a marked
increase in the ap-
plications received
in the past few
days. The warm
weather and the
nearnesS to the
m e e t n g. which
takes place at Hot
Springs. Va. June
9 to IL, inclusive,
are two factors in
the pickup in res
ervations.
AS the conven-
ton is now less
than two weeks
distant, the Trans
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28

leave mere tonight
for Los Angeles, to
attend the annual
convention which
opens in the Cali
fornia city on June
6 and ends on the
10th.
The Washington
delegation will be
made up Of T.
Hunton Leith, as
sistant cashier of
the Security Saw
illgs & Commercial
Bank; I. j. Roberts.
assistant cashier of
the Riggs National
Bank; j. Earle Nc
Geary of w. B.
HibbS & Co Rich
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28
FREIGHT LOADIEGS.

BY the Associated Press
Loadings Of revenue freight again
showed sharp drop during the week
ended May Il. on the basis of reports to
the American Railway Association. The
totals for comparable weeks follow. as
reported by the association:
Week ended May IA. 517s67 cars
rIev!'us week. ........... 533,677 cars
Same week last year 49,. 747.057 cars
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28
Capital Stock Change.

BALTIMORE. Nav % (SpeciaD
The Suburban Building Association,
Inc, OF Silver Spring, Nd. has changed
It's capital stock to 100000 shares, par
value $50 each.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28
q. s. TREASURY BALANCE.
BY the Associated Pres,

Treasury receipts for May 26 were
IS, 469, 011.97; expenditures, $24,526,-
253.45; balance, $415.579, 80082. Gus
toms duties for 26 days Of May were
SIS, ZOO, 1888.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28
INTEREST RATES.
BY the Associated Pres.

By the Associated Press.
Time money average rates showed a
further recession last week, but call
money rates remained unchanged. In
the table that follows the average rate
for beth classes of money is given, for
comparable periods, as announced by
the Denartnent of Commerce..