davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-07-24

at II and 13 cents a dozen for nearby
current receipts and with most of the
native and nearby stock showing evi-
denceS of having been held buyers are
turning to Western refrigerator eggs
with more satisfaction in quality and
grading Hennery whites, with an
average weight of SIS pounds and over
to the case, meet with ready sale at a
current receipts. Prompt and frequent
shipments, even in single case lots, are
advisable to bring top values as all held
stock has to be sold on the street at
discounts.
Demand for new potatoes only moder-
ate and market is dull and lower at 150
to LIS barrel, while old potatoes show
a sharp decline at 60 to rs per 100
pounds.
The market for native and nearby
garCen truck continues steady and
prices show little change from last week
at the following quotations:
Stringless beans, 40 to 60 bushel
beets. 100 to 15O hundred; cabbage,
rs to 100 bushel; carrots, $50 to 800
hundred; sugar corn, Is to 20 dozen;
field corn, 10 to is dozen: cucumbers,
20 to Is hamper; eggplants, IS to rs
hamper; lima beans, $50 to $50
bushel; onions. 100 to 150 hundred
squash, IS to 25 hamper, and tomatoes,
100 to 1.50 hamper
The live cattle market on the wharves
continues dull and draggy, the demand
being curtailed by the warm weather,
Evening star., 1932-07-24
WALL STREET IS IMPRESSED
BY RECENT EARNINGS REPORTS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. July 23.-While no one
minimizes the far-reaching significance
of the approval by the Interstate Com
merce Commission of the four-party
Eastern railway consolidation plan, that
decision throws no Eight on the imme-
diate industrial outlook. For long
tine to ccme it cannot have any appre-
ciable effect en- railway earnings. What
ever effect it has marketwise will be in
sWaying sentiment toward railway Sc
curities for more or less permanent
holding
1t is quite different with the second
quarter corporation income accounts
now coming out. One OF the points
stressed by bsarish professionals for a
month or more back has been the dis
appointing showing these statements
would make. The street was prepared,
however, for something much worse
than the figures revealed; in more than
one instance it was pleasantly disap-
pointed.
Some Comparisons Favorable.
Sometimes dividend requirements
were covered for the period included in
the statement. Once or twice the COM
parison nwith the same period year
ago was favorable instead of unfavor-
able. Almost invariably the market had
discounted and over discounted any
falling off Even in these times the
price earnings ratio looks attractive
from the buying side.
To take only a few instances. Gen.
eral Electric covered its dividend re-
Guirements on the reduced basis in the
second quarter, a remarkable achieve
ment considering the low rate of opera
tions. Corn products and National Bis
cult fell only a little short Of meet
ing their three months dividend needs.
but the market response to the publ
Evening star., 1932-07-24
WINTER WHEAT PRICE
NEAR EXPORT BASIS
Reserve Supplies Abroad Are Small
and Ocean Freight Rates
Are Low.
BY JOHN P. BOUGHAN.

HSSCc.areQ fre5S M2rRet EGltOr.
CHICAGO, July 23-For the first
time in long while United States No.
hard Winter wheat today app ared
about on an actual shipping basis to
Liverpool.
Reserve supplies outside of North
America are extremely small, lake and
ocean freight rates are low and over
seas markets have failed to follow de-
clines to all-time bottom price records
in America.
Compared with a week ago, wheat
this morning showed Is to l cent ad-
vance, with corn 81 off to p up, oats
l to 2 cents down and provisions at II
to 40 cents gain.
Spring wheat harvest has COM
menced, but later areas are still sub
ject to damage Likelihood of setbacks
for the Canaclan crop in sections where
moisture Is short forms another ele-
ment of uncertainty. Meanwhile. Win
ter wheat primary receipts indicate the
seasons peak is past.
First South Dakota reports indicate
Spring wheat is OF light weight. but
good quality. Areas that suffered most
from drought last season appear to
have the poorest outlook. Late harvest
ings of Winter wheat are not expected
to change greatly the general estimates
of enormous losses indicated earlier in
the year.
Trade forecasts are still for a corn
crop Of 5000 100000 bushels or more.
but rains are badly needed. Oats rule
fa- below production cost.
Provisions keep stsp with hog values.
Evening star., 1932-07-24

and only first quality stock attracts at
tention. Most of the receipts on the
whaveS are of common undergrades
which are hard to move even at dis
counts. Quotations today at Light
street wharf:
Beef cattle, first quality, per pound
612 to 7la; common to medium, pc.
pound, to 6; bulls, as to quality, 2 to
5; cows, choice to fancy, 4 to S; COM
mon to fair, to 8; oxen. as to quality
to 5; calves, veal, to 512; large, fat,
AZ to 5; large, rough, 4 to AZ; COM
mon. thin, 8 to 31la: sheep, y to 21a
Spring lambs, choice, 512 to 6; fair to
good, AZ to S: small, thin, 3 to 4; hogs,
straight, to 513; sows, 4 to Az; stays,
212 to 3; live pigs, 8 to 10; shoats, 6
to 8.
Grain Prices.
Closing prices on grain: Wheat. No
red Winter. ga-licky, spot, domestic,
53l4 July delivery. 53A; August de-
livery, 5334 bid corn, No. 2, yellow
spot, domestic, 44a45: cob corn, LISA
200 per barrel oats, No. 2, white, as to
weight, 29a32: No. 3, 28a29; rye, nearby
bag. lots, 40a45.
Evening star., 1932-07-24
Baltimore Markets
Special Dispatch to The Star.

Special Dispatch to The Star.
BALTIMORE, Md, July 23.-Under
light receipts generally the live poultry
market holds steady, but values on
Spring chickens and ducks show a
slieht decline A fairly good demand
prevails but centered on large fat stock.
while receipts are running entirely too
heavy of poor, thin fowl, which has an
effect on the better quality Of fowl
Spring chickens averaging three pounds
and over find ready sale at 81 and %
cents a pound, but 2 to 212 founders
will not bring over IA to 20, and only
large fat Leghorns, 3l2 pounds and
over. attract attention at IA and Is,
with all under grades slow sale at II
and 13. Old hens continue in good
demand at 13 to 16 for fowl weighing
Az to pounds and over, but Leghorns
viii not bring over IL and IL and all
moor thin fowl as well as old roosters,
neoIected at 8 to TO- The weather has
heen entirely too hot for any active
movement on young ducks and only
stock weighing AZ pounds and over
will bring II to Is, with smaller ducks
not wanted at any price. Pigeons con-
time in liberal receipt, but prices show
no change at 20 to Is pair for both
young and old.
Egg Prices.
The egg market continues unsettled
Evening star., 1932-07-24
WORKER INSURANCE
RATES INCREASED
Charges on Compensation
Policies Raised One Fifth
by Council.
BY ROLLIN n. CLARK.

Action taken by the National Council
on Compensation Insurance, the organi-
zation which fixes the rate for work
mems compensation insurance in nearly
every State, means that American en-
ployers will be compelled to pay about
one-ffth more on the average than at
present for this required coyerage pro-
tecting their employees.
The National Council is composed OF
two types of insurance carriers-stock
companies and non-stock-wh1ch IRE
yQuently disagree on rating problems.
The groups are given equal represen-
tation on committees and in voting, but
an umpire in the person of special
representative Of the National C0nVen-
ton of Insurance Commissioners has
the power to decide the issue in case of
a tie
So in this matter the actual decision
was in the hands of this official, for the
two company groups could not agree
on a specific rate increase, which ad-
mittedly is needed by the insurers. The
stock company representative first pro-
posed a scheme which would have in
creased Nationwide rates about "a per
cent on the average. The other groups
plan called for per cent average in
crease. The non-stock carriers then Of
fered a compromise at about IA per
cent which still failed to bring agree
ment.
The State commissioners representa-
tive announced that he would approve
the initial scheme if its proponents
would accept a modification making the
average increase approximately 20 per
cent. This was acceptable, SO the mat
ter is now settled in so far as the COM
panies themselves are concerned.
A number of States, however, will
have the final say. because new rates
must be filed and approved before being
put into effect There is little doubt
of the ability of the insurers to support
their application for higher rates with
ample evidence, but opposition by en-
ployers groups in some instances may
delay final disposition of the matter
In some States the increase will be con-
siderably greater than 20 per cent,
while in others it will be less.
(Copyright, 1929
Evening star., 1932-07-24
BANK LOAN POLICY
EASIER IN CHICAGO
Business Men Are Being Ac.
Commodated on More Fa-
vorabIe Basis.
BY ROYAL F. MUNGER.
Special Dispatch to The Star.

Special Dispatch to The Star.
CHICAGO, July 23.-Loans for bllsi-
ness are becoming available in Chicago
in increasing volume this month. The
most significant news from the financial
center Of the Middle West is not the
rise in hog and cattle prices or the mod
crate Sterilization of the bond market,
but rather the clearing up of the local
banking situation to such an extent
that rock-bottom business confidence is
now possible.
The outstanding feature Of this at the
moment is the launching of city-wide
and almost countrywide advertising
campaign by the Continental Illinois
Bank & Trust Co, the largest bank in
the city, and one which in more normal
times holds the title of the "billion-
dollar" institution.
This bank lends money to sound
business in bad times and good" IS
the keynote statement of the adver-
tisament. This is true. for the Conti-
mental in the past has shown a ten
dency to increase its scope in time Of
stress. A month ago, however, no
Middle Western bank would have felt
in a position to advertise its willingness
to make loans in the very teeth of
shrinking deposits.
The step, taken through advertise
ments placed in every leading news
paper in the city, and on larger space
than any similar announcement since
the advent of the depression. has given
decided encouragement to business
leaders
Even more important than the ac-
ton of one particular hank is the faE.
that its decision is a symptom of an
almost complete housekeeping Of the
cltyS banking system. The group Of
smaller banks in the outlying sections
OF the city. which had been a source Of
banking apprehension for two years.
came under such severe pressure in the
month of June that the weak institu-
ticns closed. the strong proved their
strength. and the doubtful secured such
cash backing as TO move out Of the
doubtful column.
t1on in proportion to deposits in their
entire history, the Chicago banks, with
Chicago business are waiting without
apprehension for the anticipated up
turn of business next year
tCopy-!Eht 1892. tv North American News
paper Alliance. IncD
Evening star., 1932-07-24

cation Of the results showed that
larger decline had been anticipated.
Two important illustrations of this
situation have come to hand. One of
them is Atlantic Refining, one of the
old Standard Oil units and a leader
in the industry. The preliminary state
ment shows the dividend for the entire
year earned. The company pays 81
annually and, in the first quarter. net
for the stock was only 16 cents share,
whereas in the second quarter it was
$1.02 a share. OF course the oil in
dustry is in peculiarly advantageous
position now, inasmuch as it has no
inventory losses to take
The other case is that of Chrysler
Corpora ton, which also covered its
ending June 80, although it had oper-
ated at loss in the first three months
of the year. While the Chrysler state
ment may not be typical of the motor
trade as whole, 1t does show that the
well-managed units can operate at
profit even under present conditions
Moreover the Chrysler balance sheet
presents an inspiring picture of finan-
cial strength.
Wall Street Encouraged.
AS OF June 80, 1882, the ratio of
current assets to current liabilities was
the highest in the history of the cor
poration. Cash and marketable securi-
ties constituted 10 per cent of cur
rent assets. The companys only funded
debt is $43,0000o0 of Dodge Brothers
6 per cent debentures, which it as
sumed. The excess of quick assets over
all current liabilities is approximately
equal to the total funded debt.
While there will be many second
quarter statements in disagreeable con-
trast to the foregoing it is safe to say
that the financial community is greatly
encouraged by the results so far.
(Ccpyright 1892
Evening star., 1932-07-24
HOLDING COMPANY
ATTACKS MULTIPLY
Bankers Feel Some Sort of Govern
ment Control May Aid
Confidence.
BY the Associated Press.

BY the Associated Press
NEW YORK, July 23-Wall Street
il experiencing series of attacks on
thai popular form of corporate control
which came into full flower in 1929
the holding company.
The financial district is traditionally
opposed to Government control. and
if there is any inclination to approve
limited degree of restrictions upon
holding companies at this time. it is
cue to a feeling that it might hep to
restore public confidence in securities
Bankers in the main say it is all a
matter of management. that holding
company Improperly managed will come
to grief. just like any other company
They insist the holding company IS an
old and tried form CT corporate struc-
ture. end is an effective efficient and
generally beneficial means of control
ling, operating and financing groups
CT enterprises. The American Tele-
phone g. Telegraph Co.. is frequently
mentioned in Wall Street as a sound
and successful holding company.
Evening star., 1932-07-24
Trade Trends

BY the Associated Press.
Electric refrigerator sales-For the
first six months sales in the United
States totaled S594910, compared with
S597454 in the first half of 1881, &C
cording to the National Electric Light
Association. June volume was esti-
mated at s156, 100, against $1l9,76l a
year ago.
Hides-Futures were reactionary this
week, but a fair sized quantity of hides
early in the week at previously ad-
vanced levels Prices in the Argentine
spot market also we're steady.
Lumber-Production shipments and
new business continue to run from 40
to so per cent below the movement a
year ago, the National Lumber Manu-
facturers' Association reports. Orders
and shipments ran per cent ahead
of production for the week ended
July Is.
Steel-Despite the absence of the
tangible signs of improvement, steel
trade interests are said to feel more
hopeful on the outlook, particularly as
to the possibilities for a moderate re-
vival of demand in September. Mill
operations have risen slightly in some
! districts 1t is expected that the
Youngstown district will show an aver
age of 20 per cent of capacity next
week compared with 81 per cent for
the past week.
Textiles-Trade sentiment continues
to verge toward the cheerful side, say
leading authorities While orders are
not coming in large volume, silk and
worsted mills are said to be booking
steady day-to-day business and report
that their outlets are readily absorbing
the goods produced.
Evening star., 1932-07-24
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, July 23-The follow
ing is today's summary of important
cooperation news prepared by Standard
Statistics Co. Inc, New York, for the
Associated Press.
Automobiles and Trucks.
General Motors Corporation common
share earnings, months ended June
50, 1882, "a cents. vs.. Sl33
Automobile Parts and Tires.
Houdaille- Hershey Corporation def
cit, months ended June g.. 1882,
S159,987, VS.. net income S609,296.
Food Products.
Ward Baking preferred share eal:l-
ings. % weeks ended July 9. 1882. s1.87.
VS.. s2.68 in 81 weeks ended July 4
1881. .
Wrigley CWilliam), Jr., Co, dollar
sales off about 9 per cent in first half
Machinery.
Allis- Chalmers Manufacturing deficit,
months ended June 80. 1882, Sl805.-
1898, VS.. net income S1,o06,O61: untitled
orders as of June 30. totaled S7.136087.
VS.. s7,279744 on March 81, 1882. and
S9,032,531 on June 80, 1881.
metals NNOn-f errOuSI.
Howe Sound Co. common share eorn-
ings, s months ended June 80, 1882, 4
cents, VS.. 80 cents.
Magma Copper deficit. months
ended June 30 1882. S29257. vs.. net
income before Federal taxes sl87783
Miscellaneous.
Du Pont (E. t. de Nemours Co. COM
mon share earnings, six months ended
June 80, 1882. S1O1 VS. 1923
Gorham Mfg. Co. declared common
dividend of IS cents; paid 40 cents on
June l.
Seagrave Corporation deficit. six
months ended June 80, 1892, 1897
vs.. deficit S41,068.
Office ard Business Equipment.
Underwood Elliot Fisher Co. deficit
six months ended June 80, 1882, sl45,-
607 vs.. net income Sl,099,465.
Railroad and Railroad Equipment.
Western Pacific f. R Corporation
June net operating loss OF Western Pa
cific R. r. Co. was S1l2343 VS.. net
operating loss of s5265: six months net
operating loss was s546,152 VS. loss
S562,615.
Retail Trade.
Sears, Roebuck & Co sales. four
weeks ended July Is, off 25.2 per cent;
% weeks off 2l.2 per cent.
Steel and iron.
Castle "a. M &, Co. deficit. six
months ended June 30, 1882, 500. .040 VS..
net income S31 541.
Utilities
National Electric Power Co.-Electric
Mana cement Il Engineering Corpora
ton, a iCint subsidiary of this company
and National Public Service, has filed
a voluntary petition in bankruptcy in
Federal Court. New York.
Ohio Public Service Co gross reve-
nucs. 12 months ended June 80, off 1874
per cent. net before depreciation off
els per cert.
Twin City Rapid Transit Co. common
share earnings. six months ended June
80, 1882, sc cents VS.. S1.04.
Evening star., 1932-07-24
TRADING ON CURB
FEATURED BY OILS
List Turns Irregular on Real.
izing Sales at Short Z
Session.
BY JOHN L. COOLEY,

NEW YORK, July 23.-Week end
profit-taking gave the curb a slightly
irregular appearance today, although
firmness in the oils group was con-
spicuous feature of the quiet market.
Standard of Indiana pushed across
20 to a new high, showing a rise of
more than half a point. 1t traded ac-
lively. Gulf met some realizing. but
was only slightly affected. Cities Serv-
Ice figured in a substantial turnover
and improved its quotation by small
fraction.
Utilities were about steady, with
nominal net changes. Associated Gas
"A" flrmed, appearing in some volume.
Consolidated Gas of Baltimore, Electric
Bond & Share and American Gas were
slightly mixed. There were number
Of early transactions in preferred stocks
of Empire Gas & Fuel.
Aluminium of America continued to
give ground. but got back part Of q
point dip. Mead johnson. Swift & Co..
Stutz and Ford OF Canada "a" traded
in the industrial and speciality division.
Evening star., 1932-07-24
EARNINGS REPORTS
MORE FAVORABLE
Some Firms Make Better
Showing Than Expected.
Employment Gains.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, July Capitalization of
additional statements of earnings for
the second quarter and the first six
months of the year attracted attention
made a better showing than expected.
Further instances of increased en-
ployment also were reported. Conf
dence seems to be growing in an Au
tunnal expansion in general industry
and trade.
The head of one of the largest indus
trial corporations in the country, which
does business in all parts of the Ma
ton, believes that general business is
creeping around the corner toward re-
covery"
Evening star., 1932-07-24
Commodity Price
Trends of Week
BY H. n. McGILL,
'ouI 'soIAIss k,ypommoo lUDoW IolEl

ou1 eoIAiaS AllpoWuoO lllDoW iolipa
AURBURNDALE, Mass, July 23.-
Latest price levels show no abatement
in the upswing that has been in ev-
dence for the past six consecutive
weeks.
During the past week the average of
all commodities again recovered, due
primarily to a higher price average for
live stock and :lso helped by moderate
ly higher quotations for hides and
leather and textiles, both fine and
coarse.
Industrial prices recorded no change,
For several months the composite group
OF industrial prices has held up within
a narrow range, showing considerable
resistance to bearish pressure. While
some price maladjustmentS are noted,
Steel for example. appearing too high,
there are so many basic commodities
that have been forced sharply under
the cost of production that every price
decline in the groups that carry price
imitation are offset by recoveries In
groups that are unduly low The net
result is that the industrial group has
been held in a state of stabiliZation for
many weeks.
Agricultural Prices.
Agricultural prices are also holding
relatively steady and the average for all
agricultural groups has shown more
disposition to increase than decline
since the opening of this month. Live
stock prices have shown more strength
than any other group. The recovery Is
partly due to a seasonal decrease in
slaughtering. but in part is attributable
to natural rebound following price
defiation and decentralization that was
carried to an extreme. The advance
that has already taken place has stim-
ulated purchasing power in the live
stock belt.
Hides and leather prices have re-
corded the first turn upward for many
months. This movement represents the
beginning Of seasonal trend. Latest
data show that supplies of hides and
leather are relatively high in terms
OF actual consumption.
Non-ferrouS metal prices receded to
a new low during the past week. largely
due to lead In the main non-ferrous
metals are huctuating within a narrow
range at the lowest price level in this
century.
Textiles. both fine and coarse. have
reacted with the upswing in commodity
prices in general in recent weeks In
the case of fine textiles, the recovery
is almost entirely due to the higher
price level for spot cotton. which ad-
vanced over l cent pound from the
extreme low in June.
A review Of price changes during the
past week shows that out of IA indi-
vidual groups, 4 advanced, 5 declined
and remained unchanged. The groups
that were higher were live stock, hides
and leather. textiles, coarse and fine.
Groups lower were vegetable oils, paint
materials. non-ferrous metals. fuels,
with an extremely small fractional de-
cline in agricultural products. The
groups which remained unchanged were
industrial, building materials, chem
icals, ferrous metals, paper and pulp.
Important Changes.
Most important price changes in the
McGill weekly price indices. 1926-l00.
This Prev
Evening star., 1932-07-24
SHARP DECREASE NOTED
IN BANK SUSPENSIONS
BY the Associated Press.

By the Associated Press.
NEW YORK, July 23.-"The Amer
ican Banker" reports sharp decrease
in the number Of bank suspensions
throughout the country this week. The
total was "a against 40 last week
Six institutions reopened, double the
number of assumptions in the previ-
Gus week Closings included four banks
in Milwaukee, the first in that city
this year.
Evening star., 1932-07-24
Grain Market
By the Associated Press.

HboOCIdIcU
CHICAGO, July 23 Independent
strength in corn helped cereals average
a little higher today.
Illinois, Missouri, Kansas and Ne
braska advices indicated 1882 corn crop
deterioration much in excess of the
usual amount shown during the last 10
years. Only scattered showers in the
corn belt were reported. and lower
temperatures were ignored.
Corn closed unsettled at the same as
yesterdays finish to 5a higher, wheat
"a off to 1s up. oats unchanged to 70
lower and provisions varying from 2
cents decline to a rise of Is cents.
Evening star., 1932-07-24
GOLD STOCKS GAIN.

NEW YORK, July % R.-The
monetary gold stock of the United
States was increased today by an i'm
portation of s26,4o0 from Mexico and
a net decrease of $4,O00,8O0 in ear
marked metal.
Evening star., 1932-07-24
New York Cotton

BY the Associated Press.
NEW YORK, July 23.-Decline in
cotton today was attributed to further
liquidation combined with Southern or
spot house selling promoted by ia
vorable view of the weather news and
relatively easy Liverpool cables. Octo-
Der contracts sold off to 5.69 or IA
points net lower, but there were slight
rallies later en- covering and that de-
livery closed at STA. The general mar
ket closed steady at net declines of 9
points on al positions.