davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-01-22
u. S. IN THIRD PLACE
AMONG GOLD PRODUCERS
Special Dispatch to The Star.

Special Dispatch to The Star.
OTTAWA, Canada. January 22.-The
United States has been pushed detl-
nitely into third place among the
worlds gold producers as result OF
Canada'S spectacular squirt in this in
dustry during 1881 according to a
bulletin Just made public by the de-
partment of immigration and colonial
ton of the Canadian Pacific Railway.
The official preliminary estimate OF
Canada's gold production for the com
plete year 1881 has been set at 2,679, ,728
fine ounces, gain of more than 27 per
cent over 1880, when the production
totaled 2,102,068 ounces" the bulletin
stated.
Complete returns on gold produc-
ton IN the United States during 1881
are not yet available, but comparison
of figures fer the first 10 months clearly
indicates Canada's leadership. The out
put Of Continental United States during
the first 10 months of 1881 was ,056,822
ounces, as compared with 984,986 ounces
during the corresponding months OF
1880. Canada's output during the first
10 months of 1881 was 2,20l 286 ounces,
as compared with 1884, ,601 ounces dur
ing the same period of 1880.
Hence it will be seen that Canada
production In the first 10 months OF
1881 was greater than for the entire
year 1880 and her rate of increase ma
terially higher than that of the United
States. The Dominion thus tightens
her grip on second place among the
nations of the world distinction first
won in 1890"
Evening star., 1932-01-22
Foreign Bonds
BY GEORGE T. HUGHES.

Foreign bonds in default are not all
OF the same standing. Sometimes the
default is due to the impossibility of
obtaining the necessary dollar ex-
change. Sometimes the default is alb
solute. In the former case an amount
equivalent to the service on the bonds
is deposited in a bank in the debtor
country TO be held for the benefit of
the owners Of the bond The reason
for the scarcity of exchange lies in the
trade position Of the country con-
cerned
In the last analysis international
debts are lquidated by the exchange
OF goods or services either directly or
indirectly, directly If the transaction
Is between the two countries involved
and indirectly if third country comes
into play. If it is impossible for one
country to export sufficient goods to
pay for its imports, plus the service
on its bonds, and if gold is not avail.
able in sufficient quantity the default
is forced.
The troubles in South America at
the present time are due in large
measure to the collapse in the price OF
the commodities which those countries
look for the bondholderS is unfaVerable
When country's finances are 50 dis
ordered that even payments in its own
currency cannot be made for account
of foreign bondholders the case is that
much worse. In any event, however,
there is always chance that some
compromise will be reached If not now,
in the future.
Therefore even defaulted bonds have
a market value. This valpe varies flrst
with the general foreign bond market
When there is active liquidation in all
bonds, because institutional or indi-
vidual holders must have ready funds
these defaulted obligations decline sym
pathetically. Similarly, when we nave
an active and strong bond market tney
as regards their own outlook, the price
moves with the progress or lack OF 1t
in restoring financial stability and That
in turn with the South American issues
depends on the recovery of commodity
prices.
Evening star., 1932-01-22
Baltimore Markets

Special Dispatch to The Star.
BALTIMORE, Md, January "a
White potatoes, 100 pounds, 75al15;
sweet potatoes, bushsl, 4oaS0; yams,
barrel, 75al IS; beans, bushel, 1.25a2.25;
beets, per crate, 1.50a1.60; Brussel
sprouts, per quart, 18a20; cabbage,
hamper, LOCAL 65; carrots, per bushel'
soa1.1o; caulifower, crate, l.2Sa1.3S;
celery, crate, 125a250; eggplants, crate
l soa2 rs; kale, bushel, 3oa4o; onions,
per 100 pounds, 3.00a400; peppers.
crate. l,5oa2.75: spinach, bushel, 25a9O;
SQUASH, bushel, 1.50a2.50; tomatoes,
crate, 1.0Oa325; turnips, hamper. loa
90. grapefruit, box, 1.25a2 so; apples,
bushel 35a1.5O, oranges, box, 2.0oa3.7o'
strawberries, quart, 3oa32.
Dairy Market.
Chickens-Young, lsa20; Leghorns'
15al8; old hens, 15a20; Leghorns, olo'
15a16: roosters, 1ia13; ducks, l2a20;
geese, 13a17; guinea fowls, pair, Zoaoo'
turkeys, 15a3O pigeons, pair, 20a25.
Eggs-Receipts, 733 cases; current
receipts, IT; nearby firsts, 1712al8;
Southern firsts, II.
Butter-Gocd and fancy creamery,
22a25i2; ladies', 17a1s; process, 20a2l;
store packed, 12al3.
Live Stock Market.
Cattle-Receipts, TOO head; fair sup
ply; market dull, lower.
Steers-Choice to prime, none; good
to choice, 600 to SIS; medium to GOOD,
4,75 to SIS: fair TO medium. 800 10
ATS; plain to fair, $50 to 400; COM
mon to plain 800 to $50.
Bulls-Good to prime, none; good 10
choice, none; medium to good: 4'oo 10
6,25: fair to medium, $50 to 400; plain
to fair, 325 to $50; common to plain,
800 to 3,25.
CoWs-Choice to prime, none; good to
choice, none; medium to good, 3.75 TO
400; fair to medium, 3.25 to 3.75; plain
to fair. $50 to 3.25; common to plain,
$50 to $50.
Heifers-Choice to prime, none; good
to choice, 800 to $50; medium to
good, 4.50 TO 500; fair to medium, 400
to 4.5O; plain to fair, 500 to 400; COM
mon to plain, none.
Fresh cows and Springers, 5000 to
6o.00
Sheep and lambs-Receipts 200 head;
light supply; market steady; sheep, LOO
to 800; lambs, 400 to 7,35; Spring
lambs, none.
Hcgs-Receipts, 1000 head; light
supply; market higher; lights, 450 to
4.85; heavies, 425 to 4.50; medium, 4,65
to 400; roughs, 2.75 TO 375; light pigs,
400 to 4.50; pigs, 4.25 to 450; trucked
hogs, none.
Cattle-Receipts. 200 head; light sup
ply; market steady; calves, 400 to 800.
Hay and Grain.
Wheat-No. 2 red Winter, garlicky,
spot, domestic, So; January delivery, SO;
February delivery, 63l2.
Corn-No. 2 yellow, spot, domestic,
45a46; cob corn, new, 200a2.10 per
barrel.
Oats-No. 2 white, domestic, 35a3s;
No. 8, 34a35.
Rye-Nearby, bag lots, 40a45.
Hay-ReceiptS, none. General hay
market quiet. Receipts ample of timo-
thy, but good, mixed hay scarce and
bringing premium. Prices range from
$12 to $3.50 per ton, as to grade and
kind. Later figure for choice clover
mixed. The poorer grades of timothy
are irregular in price.
Straw-No. l wheat, 8.50a900 per
ton; No. l oats, 9.00a1000 per ton.
Evening star., 1932-01-22
Business Notes

NEW YORK, January 22-Figures
issued by the Tubize Chatillon Corpor-
alton show that both production and
consumption Of rayon in the United
States in 1881 broke all previous rec
ords. Output based on figures cover
ing o6 per cent of capacity totaled
143900,000 pounds, an increase of 81
per cent over 1880. Consumption to-
tailed 150,l00000 pounds, gain OF 43
per cent.
Producers of durene and mercerized
yarn. representing more than 80 per
cent of the trade, have adopted stand
ard form of contract covering pur-
chases. The action was taken. it was
explained in an effort to check un-
ethical practices practiCed by some
buyers in the past Trade interests eX-
pressed the belief that the enforce
ment of the new contract form will
help stabilize the hosiery and piece
goods trade.
Dealers report a good demand for
table lamps in the wholesale market,
mainly in low and medium priced lines.
1t is said that retailers who placed
sample orders at recent trade shows
are requesting larger shipments. An
for February and March delivery is
said to have developed in the last few
| days.
A larger volume Of buying is reported
in the primary dry goods market here
coincident with a marked increase in
the number of jobbers arriving.
Evening star., 1932-01-22
CENTRALIZED CIGAR
INDUSTRY is NOTED
Trend Shows Bulk of Production
Centers in Few of Larger
Plants.
specialDispatct to The Star.

Special Dispatch TO The Star.
NEW YORK, January 22-The trend
toward concentration of the country's
cigar production in the hands of larger
producers, which has been in evidence
for a decade or more, continued in
1880, according to figures recently
made available. Since conditions in
probable that when figures for the past
year are available, a further sharp
contraction will be reported in the
number OF factories operated.
During 1880 there was a small de-
cline In the two groups of largest cigar
factories. but in both instances these
groups produced a larger part of the
total cigar output than in previous
years At the same time there was a
sharp contraction in the number Of
factories with the smallest output, the
rate of disappearance being faster than
in the preceding years, and the groups
share of total output fell to 5.22 per
cent from $50 per cent a year earlier
and 1877 per cent 10 years before.
Since 1921 this trend toward con-
ceatration has reduced the number of
! factories operated by nearly so per
cent. This is best shown by tie fact
that in 1880 there were 35 factories
operating which produced over 40,000,-
900 cigars during the year. These
factories produced 49.8 per cent of the
total cigar production in that year. In
1921 there were only IL factories of this
size operated, and they produced only
1877 per cent of the total cigar
production.
In 1880 only 6,976 factories which
had production under 100000 cigars
annually were operated, and they
produced 5.22 per cent OF the tota,
cigar production, compared with 13,14e
factories of this size in 1921, when
they produced 1877 per cent of the total
cigar output.
Evening star., 1932-01-22
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, January 22.-The fol-
lowing is a summary of important cor
poration news prepared by the Stand
ard Statistics Co., Inc, New York, for
the Associated Press:
News Trend.
For the twentieth tic2" IN succession
brokers' loans declined. According to
the report of the Federal Reserve Bank
Of New York, loans decreased 2000,-
600 in the week ended January 20 to a
total Of S53l ,000 000 the lowest figures
since February !, 1918. Loans made by
member banks for their own account
declined S35 100000 loans for Others"
were $1,000 600 lower, while loans for
the account Of out-of-toWn banks rose
81 900 600
The Companies.
Automatic Voting Machine declared
$3.50 back dividend on prior preferred
stock payable 81 in cash and $3.50 in
script
Chesapeake g. Ohio Railway 1881
common share earnings after sinking
fund, S3.47, VS.. $4.44.
Dominion Steel g. Coal.-Four fur
mace units to resume January 25, 1882:
Kresge IS. S. Co.-Common dividend
not yet discussed by directors; to take
action in February.
National Lead Co. buys controlling
interest in Virginia Smelling Co.; TO
operate latters plant, which has
capacity of 10000 tons annually.
Radio Corporation of America
Senate resolution seeks information
| concerning patent suit involving this
! company, General Electric, American
| Telephone & Telegraph and Westing-
/ house Electric & Manufacturing directs
! Attorney General not to enter into any
! compromise settlement.
! Stahl-Meyer. Inc. Sc preferred share
| earnings, year ended December 26, S5.lO
/ VS.. S22.30 in year ended December
27, 1880.
Standard Oil of Ohio marks up
kerosene price ll2 cents a gallon at
| service stations.
| Sterling Securities liquidating value
| December 81, 1881 S4299 a first
preferred share VS.. s7267 December
81. 1880.
Sutherland Paper, 1881, common
share earnings 33 cents VS. 80 cents.
United States Pipe g. Foundry de-
clared four quarterly common dividends
, OF so cents each covering year 1882;
/ 1881 common share earnings 49 cents
VS. So 42
Wheeling Steel Corporation advance:
melting rate at Steubenville above 81
per cent Of capacity.
Associates Investment 1891 net ovel
100000; cash exceeds S2,500,000.
Colonial Beacon Oil advances New
York and New England bulk gasoline
prices p cent gallon.
g. w. Grand-Silver Stores Decem
Der sales off IA per cent; IL months
of IL per cent.
Franklin III. H Manufacturing h
make its own car bodies.
Freeport Texas Co. declared 50-cen
quarterly dividend; formerly paid II
Evening star., 1932-01-22
Brokers' Comment

NEW YORK, January 22.-Little
change in market trends was looked for
at this time in brokerage house circles
today. A further rally was viewed as
among the possibilities, but, on the
other hand it was thought by some
that the reconstruction finance bill and
the expected railroad wage cut might
have lost weight as favorable market
influences.
Jackson Bros, Boesel & Cove
would not be surprised TO see mod
crate reaction. but would utilize weak
spots to add to long commitments, par
ticularly in the rail group. slight
retracemenU would not change the view
that the main trend remains upward
and that higher prices will be seen be-
fore the month runs out.
Hornblower g. Weeks-We think the
technical position of the market has
been strengthened rather than weak
ened during the past week in that a
market of the type We have been wit
Messing usually encourages renewed
selling for the decline, and II, as we
expect, news developments Immediately
ahead bring about another sharp re-
covery movement, then the size OF the
short interest should prove an i'm
portant factor in determining the extent
and duration of the advance once it
gets under way.
Shields & Co.-When the reccnstruc-
ton and railroad wage fade out as
topics of interest the European develop
ments are likely to constitute a more
DoUerfill market influence.
Redmond g. Cove would not be
surprised to see another effcrt made
to rally the market, using the passage
of the Hoover reconstruction bill or the
acceptance of a railway wage cut as
an excuse for the resumption of bullish
activity, but we are still OF the opinion
that no sustained major upturn Is
likely until business begins to show
signs of real improvement and that
many individual issues have not yet
seen their low prices.
E. F. Hutton & Cove think the
carrier stocks will continue to lead the
moderate advance in expectation OF
early reduction in railroad wages.
John Muir e. Co.-The market at the
moment Is living en- hope. So many de-
lays have occurred IN the passage OF
the reconstruction bill and so much is
expected of it that the actual results
of it's operations may prove a dis
appointment and may be found to have
been discounted in so far as immediate
market effect is concerned.
Evening star., 1932-01-22
Grain Market

BY the Associated Press.
CHICAGO, January 22.-Big export
shipments of wheat from Soutnern
Hemisphere sources led to early lower
prices today for grains. An easier tone
in securities was also a bearish factor.
Opening unchanged to a lower
wheat afterward sagged all around;
Corn started unchanged to % on ana
subsequently showed general setback.
With Buenos Aires wheat quotations.
at a new low record for the season ana
to 5 cents bushel under the leVei
at this time last year, bears gave special
emphasis to word that Argentine and
Australian combined exports OF Wheat
this week totaled 1l.52l 600 buSnels.
This aggregate compared with 6,loo'-
600 a year ago Little attention was
given to the fact that Australian wheat
exports we're largely to the Orient.
Tending to act at times, however,
as a curb on doWnturns in wheat values
was absence of any urgent selling pres
sure in future delivery dealings. In
this connection, it was pointed out that
domestic receipts of wheat were un-
usually light, indicating producer dis
satisfaction with prices. Traders were
also uneasy as to crop effects OF ab-
normal weather conditions, and reported
picking of flowers in January When
temperatures should normally register
around zero
Corn and oats prices took their cue
from wheat.
Provisions were responsive to up
turns in hog values.
Evening star., 1932-01-22
CHICAGO LIVE STOCK MARKET

CHICAGO, January % [P) Omitted
States Department of Agricultural -
Hogs, 27,000, including 1000 direct; ac-
tive, 10 higher; 170-2l0 pounds, 4.05a
AIS; top, 420; 220-250 pounds, 3.85a
405; 100000 pounds. 3,75a3.85; 14O-160
pounds, 375a400; pigs, 300a3.50; pack
ing sows, 330a3.40 light light, gooa
and choice, 14o-160 pounds, 3.75a4,10;
lightweight, 10000 pounds, 3.95a420;
medium weight, 200-250 pounds, 3.85a
420; heavyweight, 250-350 pounds, 365a
$50; packing sows, medium and good,
275-50o pounds, 3.25a350; pigs, good
and Choice, l00-130 pounds 300a3.60.
Cattle, 1000; calves, 500; cleanup
trade at about steady prices on all
classes; most short-fed steers and year
lings 4.25a6 so; no good or choice grades
offered. Slaughter cattle and vealers:
Steers good and choice, 100000 pounds,
G. .50al0 so: COOL 100 pounds, 6.50al0.50;
l ,l00-l 300 pounds, 6.50al0.25; 1900
l,500 pounds, 6.50al0.25; common and
medium, COOL, 900 pounds, 325a6.50.
Heifers, good and choice, 550-850 pounds,
500a7 90; common and medium, 3.00a
500. Cows, good and choice, 3.50a4.75;
common and medium, 2.75a350; low
cutter and cutter, l,75a275. Bulls
(yearlings excluded, good and choice
(beef), 3.50a4.25; cutter to medium,
2.50a3.85. Vealers (milk fed, good and
choice, 7.ooaS.50; medium, 6.0oa7.o0.
Evening star., 1932-01-22

cents; 1881 preliminary common share
earnings 1925, VS.. S428.
Gulf Oil subsidiary advances New
York and New England bulk gasoline
prices l cent gallon.
Gulf States Steel 1881 deficit S976,-
228, VS.. deficit $8115,334
Hobart Manufacturing declared So
cent quarterly dividend; formerly paid
6212 cents.
Hudson Bay Mining e. Smelling Co.,
Ltd.-Zinc and copper output near ca
pacity, averaging about l,500 tons of
each metal month.
International Railways of Central
America December gross income off 30.4
per cent; II months off 33.5 per cent.
Montreal Light, Heat & Power Con-
solidated 1881 common share earrings
S2.17, VS.. S219.
Ward Baking class A share earnings,
year ended December 26, sc cents, VS..
Is cents in year ended December 81,
1890
South Penn Oil subsidiary, Pennzoil,
reduces price Of motor oil cents to
80 cents quart, applying to all East
ern sections.
Evening star., 1932-01-22
INDUSTRY
SEEKS EXPANSION
Dairymen Are Also Planning
Intensive Efforts to
Increase Sales.
BY F. A. RESCH.
Written for the Associated Press

CHICAGO, January 22.-After a
year of heavy losses, the dairy and
poultry industries are outlining new
campaigns to reduce output and in
crease consumption of butter and eggs.
In efforts to put both industries on
firmer economic footing, as well as
to shake futures trading out of the
doldrums, organized dealers plan steps
to bring prices out of Winter slump
caused. not only by unseasonably heavy
production, but by reduced consump-
ton.
Indications of Decrease.
Already there are indications that
egg production may drop sharply in
1882. Several large orders for baby
chicks from hatcherieS have been can
vinced it would be Improbable to
maintain their output, much less in
crease 1t.
In recent weeks butter consumption
has fallen off, despite the lowest whole
sale prices in 20 years. Production, on
the other hand, has been kept at an
abnormally high level due to mild
weather.
January delivery of storage standard
butter yesterday touched the lowest
price which any storage butter delivery
CNCL Ildo IllI Oi1 IIlS S4IlNdSO
Exchange in futures trading.
Butter production recently has been
running about 16 per cent greater than
at this time last year, while outward
movements from storage have been de-
cidedly lower
From November l to January l
9,600o00 pounds of butter moved
out of storage. For the same period
last year the figure was 46,200,000
pounds. Had normal consumption
continued through November and De-
cember, traders believe, there would
| have been less than 100000 pounds
| in storage now But, with consumption
| off, storage holdings totaled 100000
pounds January i.
The drop in use Of butter has been
| sharper than the decline in egg con-
sumption, but the increase in egg
production has been more marked than
| in the case of butter, although the
output of eggs now is below last years
| volume.
About 5000, 900 cases of eggs moved
out of storage. from August to Januz 5
ary /, in contrast to the same period
of 1880, when storage holdings dropped
| by 10000 cases.
Lower Prices Expected.
Two days ago in the Nations four
principal egg markets-Chicago, New
York, Philadelphia and Boston--1O. 900
cases moved out of storage. On the
same day last year demand was suf-
ficient to bring 20,500 cases from
| storage.
on January 81 this year, in the
same four markets, movement of butter
into storage totaled Al 1000 pounds. On
the same day last year there was an
outward movement of 273,000 pounds.
Traders on the Chicago Mercantile
Exchange are virtually unanimous IN
! the opinion that both butter and eggs
will 60 into storage this year at de-
cidedly lower prices than in 1881.
Evening star., 1932-01-22
ROBERT N. HARPER HEADS
VIRGINIA ROAD COMPANY
Washington, Great Falls and
Dranesville Highway Orgaalza-
ton Holds Annual Election.
Special Dispatch to The Star.

Special DlSpatcn 10 Ihe Star
MCLEAN, Va, January 22.-Robert
N. Harper of Washington and Lees
burg was reelected president OF the
Washington, Great Falls q DanesVllle
Highway Co. at the annual meeting
here.
Herman E. Gasch 0! Washington and
Prospect Hill was tlected vice presl-
dent; Douglas S. Nackall Of Washing
ton and Langley, treasurer, and Ralph
Powell of Langley secretary
In addition to the officers the new
board of directers includes E. T. Simp-
son of Washington, Mark Turner and
A. C. Speigh of Forestville, Albert
Schmidt of Great Falls, G. Wallace
Carper of Spring Hill John w. Preston
of Mclean, John c. Mackall of Langley
and Oscar T. Wright of Washington.
The treasurer's report showed $13,-
1866 taken in during the year at the
toll gate, all save the $1,000 balance
now in the treasury having been spent
in improving the road from Langley to
Elkins and Great Falls. All debts are
paid to date. The road has been
widened in three places during the year
and resurfaced for the first two miles.
The directors were authorized to sur
ve7 the road and definitely locate the
right of way by permanent markers.
Evening star., 1932-01-22
PLANS TO RE0RGANIZE
COMPANY ARE PUSHED
Ru The AsSnciated Press.

NEW YORK, January 22.-Success-
full efforts of American CommonWealths
Power Corporation receivers to enlist
cooperation of creditors gave added
hope today that final reorganization
might be effected without loss to the
company of its important operating sub
sidiarieS.
Chase National Bank has agreed to
carry secured note of the American
Community Power Co., subsidiary, in
order to give the receivers more time to
perfect their reorganization.
The United States & Foreign Securi-
ties Corporation has retained an inter-
est in the reorganization by purchasing
a 81 100000 debenture issue of another
subsidiary-the American Gas & Power
Co.-from A. E. Fitkin, who on Wednes
day bought a controlling interest in
that company.
Evening star., 1932-01-22
RECORD INSURANCE
TOTAL IS SCORED
December Figures Show New
Life Policies Were Largest
in 18 Months.
Rx the Associated Press.

By the Associated Press.
NEW YORK, January 22.-The
largest amount of new life insurance
written in the past l8 months was
credited to December in report yes
teraay by the Association of Life In
surance Presidents.
The report said December also was
the first month since June, 1880, to
show a percentage increase over the
corresponding month Of the preceding
year The increase was one-haI OF
one per cent over December, 1880.
The statement, which showed the new
paid-for business of A member COM
panies having 81 per cent of the total
volume of life insurance outstanding III
all legal reserve companies, disclosed
the new business of the companies dur
ing December, 1881, was Sl,l17l87,0 ,00o
compared with $l,112,173,000 in Decem-
Der of 1880.
The total new business of the COM
panies for 1881 was s11 OBS, ,OO3,00o
against s12,460,977,0 900 in 1890, de-
crease of II per cent.
The reporting companies showed tne
total of all life insurance carried by
them to be S89, 1893 ,462, 900 on December
81, 1881, net increase Of insurance
in force for the year of 81 1,O59, $3.50, ,ooo
or 2 per cent.
Evening star., 1932-01-22
New York Cotton

Special Dispatch to The Star.
NEW YORK, January 22-Opening
cotton prices today were unchanged to
points lower. Trading was in small
volume. Foreign demand was small.
Offerings from commission houses were
not heavy.
Opening prices were: January, $50,
off 3; March, $40, unchanged; May,
s.s5, unchanged; July, 7.o2, off l.;
October, 725, off /, and December
TAI, off !.