davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-06-05
BOND YIELDS SHOW
VARIED CONTRASTS
Government Loans Paying Un-
usually Low Rates-Corporate
Returns High.
Blythe Associated Press.

Blythe Associated Press
An interesting anomaly of the times
is presented by the yields offered by
present day Government paper in con-
trast with the return Of high-grade cor
poration bond issues.
For instance a recent offering of
Treasury short-term paper was sold at
an annual interest rate of so 20 per cent,
while yields OF corporation bonds of
good standing on the New York Stock
Exchange of less than per cent are
the exception rather than the rule.
While it is held true by Treasury off,
cials that Government paper has sold at
artifciaily low levels due to excessive
credit piled up in member banks
through the open market operations of
the Federal Reserve Board, nevertheless
it portrays effectively. they say, the
eagernesS with which banks will snap
up an investment wherein the element
OF risk is entirely eliminated.
One argument for the cheap rates
available for Treasury paper-that its
demands are for refunding rather than
for new capitals not borne out by
Government statistics. During the five
months of 1882 the Treasury has made
total offerings Of more than S2.8l3,-
100000, whereas maturing obligations
were for about 81 SIG 100000
Thus it is seen that in Government
financing for the calendar year TO date
nearly ohe-haf. or S1.297. 900, 900, has
constituted new obligations.
Evening star., 1932-06-05
TEXAS COAST OIL
DRILLING RESUMES
Renewed Prospecting Is Un'
dertaken Near Old Pro.
duCing Area.
BY the Associated Press.

BY the Associated Press.
HOUSTON, Tex. June 4.-The Texas
Gulf Coast one Of the oldest producing
on areas In the Southwest. apparently
is lot through yet developments Our
ing the past month have indicated.
Recent activities in territory pre-
riously untouched by driller's bit have
brought about renewed prospecting not
far from an area which years ago
setted down to steady production.
In Montgomery County, Just north
of Houston, has come a showing of
oil which might conceivably result in
the seventy-third distinct field for the
Gulf Coast.
The test found evidence of pay at
5000 feet in a formation new to the
area-the Yeguh-indicating it would
mean new producing horizon. and q
new field If the showing should ma
tertalize into commercial production.
In Matagorda County. southwest OF
Houston and about 125 miles from the
Montgomery County test. a new pros
pect appeared in wildcat drilled tc
the depth, almost unprecedented for
the Gulf Coast. of 1886 feet. The well
headed oil for time when it hit the
sand, but the bailer was lost and other
activity had to be suspended.
Whether either we'll would develop
into a permanent commercial producer
was by no means certain
The Montgomery County we'll in a
drill stem test made a showing Of oil
sufficient to cause its owners to start
cementing operations in preparation for
attempting to make 1t a commercial
producer 1t was the third showing In
the vicinity, two other tests having
found pay sand at 5,078 feet and 1920
feet, respectively.
As operations went ahead in Mont
gomery and Matagorda Counties. an
other section of the Gulf Coast-Rabbs
Ridge. some 60 miles from Montgomery
County-was finding renewed activities
as we'll A major oil company recently
complete $4,000 900 deal for a half
interest in 5000 acres there for the
purpose Of drilling. Rabbs Ridge
hardly more than a year old. already
had nine producers and an estimated
daily production Of 10000 barrels.
Evening star., 1932-06-05
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATION

NEW YORK, June 4.-The following
Il today's summary of important cor
poration news prepared by Standard
Statistics Co.. Inc, New York, for the
Associated Press.
News Trend.
The Bureau of Labor Statistics index
number of wholesale prices recorded a
further loss of 0.3 per cent the week
ended May 28 AS of that date the
average, which Is based on 7S4 COM
modities or price series. was 64.3, COM
pared with 683 on January 2, a de-
crease of So per cent.
The companies:
General American Tank Car-De-
clared 50-cent common dividend: paid
quarterly dividend of 81 January l.
1882: over 81 per common share earned
In first half.
Hercules Motors deficit. quarter ended
March 81. 1882, S48,567 VS.. income
S12l,181 equal to 80 cents a common
share
United States Steel-Carnegie Steel
Co., subsidiary, has shut down it's Ohio
works plant for an indefinite period.
Bulova Watch deficit, year ended
March 81, 5215.l35 VS.. net income $751;
e2l. equal to 1924 a common share.
Moto- o-Meter Gauge g. Equipment
deficit, first quarter, S1O8,453 VS. deficit
Sll3213.
Federal Light g. Traction gross in
IL months to April 80 Gncluding sub
sidiariesJ was off per cent. net in
come dropped SO per cent
Granite City Steel plants operating
at about 33 per cent of capacity.
American Cities Power & Light net
asset value May 81. 1882. sl28 a class
B share VS.. S299 December 81, 1881.
Evening star., 1932-06-05
STEEL PRODUCTION
DECREASES FURTHER
Holiday Held Partly Responsible
for Lower Rate During
the Week.
Special Dispatch to The Star.

NEW YOK. June Mild improve
ment in some steel products is noted
by the Iron Age in its weekly trade sum-
mary today. but this has not reached
mill books in time to prevent another
slight decline this week in ingot pro-
ouction to % per cent Of the country's
capacity. 1t is explained that the low
cred rate was partly brought about by
the Memorial day holiday.
Gains in orders are most notice
able in structural steel and tin plate" "
the summary states. Structural steel
lettings Of 81 900 tons are the largest
for any week since late December and
inquiries have appeared for II 500 tons
of New York.
Tin plate operations are approach
ing so per cent rate following a few
weeks at As per cent and further i'm
provement is in prospect for June
While some private building work
is appearing in the market. most of
the structural steel tonnage is for pub
lie projects. Work is to be begun with
in two weeks by the Pennsylvania Rail-
road on its electrif1cation project and
releases Of about 10000 tons of steel
which have been in suspension on mill
books are expected soon.
Interest in automobile prospects
centers in the rapid expansion Of out
put by the Ford Motor Co.. which has
now reached 4.500 cars a day, five DAYS
week. with a prospect that this may
be exceeded in a week The Ford sched :
ule for June contemplates production
of 10000 units"
Copyright. 1897
Evening star., 1932-06-05
q. S. TREASURY CERTIFICATES
BANKERS POOL IS PLANNING
LONG TERM INVESTING POLICY

their plans public and are favored by
the rapidly improving situation in
Washington and technical market con-
ditions. There is a feeling that they
should have moved more swiftly and
prevented many Of the disastrous losses
to security holders that occurred early
this week, when there were scores Of
reputable bonds and preferred stocks
for which only nominal bids were
presented.
The necessity for a bond pool or its
equivalent has been impressed on
bankers for the last month. It has been
difficult to obtain action or favor for
this proposition owing to the despair
complex that prevailed everywhere.
The famous pool of November, 1929,
which was also managed by J. P.
Morgan &, Co., concentrated its atten-
ton entirely on the stock market. At
that time the market for bonds present.
ed no problem. This organization took
up roughly 1928 900 600 of stocks that
otherwise would have been greatly
sacrificed and within four months had
bailed itself out, with the subscribers
to 1t paid of. y
~s ~>auuE - -
Evening star., 1932-06-05
WHEAT CARRY.OVER
MAY HIT new RECORD
Texas and Oklahoma Crops Are Al
ready Moving-Prices Are
Sharply Lower.
BY JOHN p. BOUGHAN,

CHICAGO, June with Texas and
Oklahoma crops already moving. the
Nations July carry-over of wheat Is
just now promising to outdo the all
time record.
Trade authorities today indicated that
not only would this -of-the-season
carry-over Of United States wheat es-
tablish fresh top record as to volume,
but that apparently it must come into
conflict with the new harvest of do
mestic Winter wheat even though the
1882 crop is one of the smallest in many
years. For the time being, however,
market interest appears to be pivoting
largely on the Government crop report
due from Washington next week, and
generally expected to prove as bullish,
or more SO than recent private eSti-
mates
Compared with week ago, wheat this
morning was 31sa4as cents a bushel
lower, corn 21sa27s down, oats 2saB
on and provisions unchanged to de-
cline to 20 cents
Some of the most experienced pit OBJ
servers said today that wheat prices
were dt present down TO levels Wnere
heretofore active buying support had
been met. These observers added that
pending the Governments June crop
report there seemed little disposition to
press the selling side of wheat, barring
further unexpected and unfavorable de-
velopments. external to the grain mar
ket. 1t was also pointed out that United
States hard Winter stocks of wheat at
export centers were now on about a
parity with Argentine wheat, and that
the Canadian surplus would be probably
much smaller than last year
On the ether hand, highly beneficial
rains have fallen in the United States
Spring wheat area, ana there is no
shortage Of surface moisture at present
Best posted domestic interests North
west assert it will be next to impossible
to start crop scare in that region for
some weeks to come, unless weather
conditions hereafter become abnor-
mally adverse. The recent dry area in
the Canadian Northwest, however, must
apparently require additional moisture
soon, as there have been complaints of
late about soil blowing in parts of
Southern Saskatchewan
Evening star., 1932-06-05
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. June 4.-The formation
of a s100000.000 corporation for the
definite purpose "of acquiring sound
investments in the security markets"
was heralded in Wall Street today as
the most important development directly
affecting prices of stocks and bonds
that has occurred since the protecting
pool was organized in November, 1929.
1t Is proper to interpret this move as
one which expresses the confidence Of
its promoters in the integrity of large
numbers of American securities, and
their conviction, finally arrived at, that
Congress will pass satisfactory tax bill
and that the national budget will be
balanced in way to remove the fears
of European bankers and check the sale
of American securities and the outflow
Of gold.
The fact has been emphasized in the
announcement of the corporation that
its function is not to rescue" the
market, but to operate for long-term
profits in stocks and bonds that have
recently been selling close to bankrupt
prices.
The corporation managers have chosen
the uUshdlcdeat nomsM ~ xsakano
Evening star., 1932-06-05
C. & P. OF BALTIMORE
net REVENUE DECLINES
Special Dispat tch to The Star.

Special Dispatch to The Star.
BALTIMORE, June 4.-Net telephone
operating revenues of the Chesapeake g.
Potomac Telephone Co. of Baltimore
City in April were s70858 below those
Of the corresponding month In 1881, ac-
cording to report of operations filed with
the Public Service Commission.
The operating revenues for the month
totaled s1161 ,096.59. compared with
sl,142 .592.64 in March and with s1,236.-
1885 in April last year Expenses for
the. month were S892.457. as against
96.67l 49 in the like 1881 month.
Net telephone revenue, after expenses,
taxes and other charges. was S268. .639. SO
in April. against S282 22O71 in March,
and s339,496.86 in April last year, the
report showed
Telephone revenues for the four
months of the year were s4,576.831, as
compared with $4,722,987 for the same
period last year, and expenses were
$3,557 030, as compared with $3.50, ,636,
giving net telephone revenue for the
period Of S1,019.801, as compared with
Sl.072,351 for the corresponding 1881
period
In the first four months Of the year
the company invested in capital ex-
penditures s1.166663. Gross retire
ments were 81 099, 1858, making net addi-
tions of S67,305
Evening star., 1932-06-05
RAILROADS Meeting
BUS COMPETITION
Recent Fare Reductions Reflected
in Increase in Passenger Traffic
on Some Lines.
Special Dispatch to The Star.

NEW YORK, June 4.-ReSults Of tn
first five weeks of operation of New
York Chicago passenger service under
the new schedules of time and fares
indicate that the change is helping to
combat the competition of busses and
airplanes.
For competitive reasons figures on
the traffic of individual roads for spe-
cific trains are not available publicly
but private reports and unofficial esti-
mates are clear on several points of i'm
provement since the date of the shift,
April "a.
Elimination of extra fare on all but
two trains and the addition of coaches
to trains that formerly were on an ex-
tra-fare basis have made rail service on
intermediate points more attractive. so
that some trains have enjoyed gain
Of as much as 25 per cent in patronage.
The source of this extra travel is at
tributed by traffic men to passengers
6eserting bus lines.
The effect of the new 18-hour sched-
ule for the extra fare Chicago-New
York service in meeting airplane COM
petition, is less marked, but is believed
to be real
(Copyright, 1922
Evening star., 1932-06-05
UPSW|NG IN BONDS
CARRIES FURTHER
Railroad Group Again Proves
Feature in Active Short
Session.
BY VICTOR KUBANK.


NEW YORK. June 4-Ndtwithg.Anf-
mf some pronu- taxing, the bond market
rvzpned its upward swing today, with
the rails in particular recording almost
as spectacular advances as yesterday.
Traders and investors generally had
regained their confidence, due to the
announcement Of the organization Of
the big security buying corporation,
headed by Thomas w. Lamont of Nor
gan g. Co., and the feeling that balanc.
ing of the national budget was but the
matter of a few hours.
The opening of the market today
found the greatest scarcity Of offerings
In any session this year, with the result
that bidders were forced out into the
open, and prices, mostly ignoring frac-
tons climbed by points
Gains frcm l to 7 or more points were
the rule among the carriers. outstand-
Ing advances being registered by loans
Of Santa Fe, Baltimore & Ohio Boston &
Maine, Canadian Pacific. Rock Island,
St. Paul, Chicago g. Northwestern. Hi
nois Central Missouri Pacific. Nickel
Plate. Northern Pacific, Great Northern.
Pennsylvania, Southern Pacific. Great
Western. Frisco and Union Pacific.
The utilities and industrials were a
little less buoyant than the carriers,
although some notable advances were
shown by some of these bonds Among
the strong ones were loans of American
& Foreign Power, American Smelling,
American Telephone, International Tele-
phone. Columbia Gas, Duquesne Light,
General Theaters. Goodyear. Loews.
North American, Philadelphia-Re Reading
Coal G. Iron, Shell Union Oil, Standard
Oil of New York. Texas Corporation,
United States Rubber, Utility Power &
Light, Western Union and youngstown
Sheet & Tube.
German government obligations were
In demand and loans of France recov-
cred Substantially. japanese bonds were
soft Both the Austrians and Argen-
tines improved.
United States Government loans were
moderately higher
Evening star., 1932-06-05
COTTON PRICES GAIN
AT SHORT SESSION
Advance of 81 a Bale Follows
Higher Cables-Buying
Orders Increase.
BY the Associated Press.


NEW YORK. June 4-Cotton ad-
vanced about ST a bale today and was
about 81 so a bale above the recent low
level. in response to higher Liverpool
cables than anticipated and on active
covering on the strength of the stock
market
There was some hesitation about fol-
lowing the advance early. owing to a
favorable view of weather conditions,
but offers proved small throughout the
DAY, and when buying orders increased,
based apparently on a more favorable
view of financial and political condi-
tions, the market ran up quickly The
July position, after opening at $50, de-
clined to SIT, but later rallied to 531,
closing at $50, an advance of 20 points,
While the general market closed steady
at 19 to 25 points net higher.
Evening star., 1932-06-05
Steamship Agents Retire.

BALTIMORE, June (SpeciaD -
The old steamer agents and brokerage
firm Of Wilbur F. Spice & Co. has re-
tired from business. 1t was the sue
cessor of Gustavus & Co., which had
been in the business many years.
G. r. Suehle, long in the employ Of
Spice e. Co. will operate the business
as c. R. Suehle & Co. The new firm
will continue to represent the Texas
Transport & Terminal Co., Inc.
Evening star., 1932-06-05
Trade Trends

BY the Associated Press.
Construction. - Heavy engineering
construction contracts awarded during
the last week in May totaled S14 953 900,
considerable decrease from the pre-
ceding weeks of the month according to
the Engineering News-Record. The
cumulative value of contracts let from
the first of the year to date is $780,
279,000. compared with ST ,253, 10000 in
the same period last year.
Fertilizers-Saleso of fertilizer in May
in the cotton-growing States of South
Carolina, Alabama, Mississippi, Ten
nessee, Louisiana, Arkansas and Texas
totaled $1,000 short tons. compared with
$1,000 during the same month last year
and $4,000 tons two years ago accord
ing to the New York Cotton Exchange
Service.
F7our.-Spring wheat -four prices
have been reduced 20 cents a barrel
at Montreal, dealers reported yester-
day.
Lead.-Stocks of lead at smelters
and refneries in the United States on
May totaled 238,224 short tons,
189, ,344 on May /, 1881, according to
the American Bureau Of Metal Sta
tistics.
Silk.-Imports of raw silk during
May were 34233 bales, as compared
with 30,953 in the preceding month
and 1924 in May, 1881, the Silk AS
sociation of America reports. Deliv-
cries to mills totaled 81, ,923 bales, COM
pared with 35,779 in the previc.4
month and 45,073 in May, 1857.
Stocks at warehouses on May 81 were
59,159 bales. contrasted with 32,688 at
the same date last year.
Lumber-Production of lumber for
the week ended May 20, as estimated
by the National Lumber Manufac-
turers' Association, was 114,587, 900
feet, about half the volume of cor
responding week last year. Orders
exceeded the production by per cent
and dhlnmRta h3 u IN A1nE -.
Evening star., 1932-06-05
Extensive Gains
In Stock Market
Recovery Shown
BY the Associated Press.

BY the Associated Press.
NEW YORK, June 4.-Fgured on a
percentage basis, the stock markets re-
covery of the past two days Is extensive,
considering the time involved.
This is true particularly Of many of
the low-priced issues, which show in
numerous instances gains ranging from
10 to 25 per cent over the recent lows.
Evening star., 1932-06-05
What Things Cost

Compiled by Standard Statistics Co, .,N.Y)
NEW YORK, June 4 (P).-Of the 26
important commodities in the following
table. 4 are higher in price than last
week. II are lower and IL remained
unchanged. Two Of the 2e are at their
high for 1882, while IL are at their low.
Evening star., 1932-06-05
Short Interest.

NEW YORK, June (P).-The total
short interest on the New York Stock
Exchange on May 81 amounted to g.
140, $50 shares, the Exchange announced
today. This compares with a short in
terest of 2,758,161 shares on May g
Evening star., 1932-06-05
EARNINGS REPORTED.

NEW YORK, June 4 LP).-Per- share
earnings of corporations reporting for
various periods during the past week,
with comparisons, included the follow
Evening star., 1932-06-05
sHORT.TERM SECURITIES.
(Reported by Chas. D. Barney &

<fepOftcu Dy Snds. H. barney q CO.l
Allis- Chalmers Co. IS 1887 -. 81 IS
American Chain Co IS 1888. ~ A
Amer. Tel. g. Tel. 51zs l943. =. 1919 l02
Amer. Wat. Wks. &, e.. IS 1894 IS SO
Baltimore & Ohio 4i2s 1888 36la 81
Belding Hemingway Co. IS 1896 80 .....
Bethlehem Steel Corp. IS 1886 "a 80
Canadian Nor. RWy. 4l2s 1885 90Is 9024
Chi. Northwestern r. R. IS 1888 go. 63
Chicago Rock Island As 1894 26 20
Ceve., Lor Wheeling SIS 1888 .. es
Colorado & So Rwy 4l2s 1855 so IS
fommercial Credit Co 5ias 1885 81 $50;
Denver & Rio Grande 4iss 1886 32ia 42i:
Gen. Mot. Accep. Corp. IS 1887 1914 1913
Genera petroleum Corp 5s 1910 97aa 99i4
General fublic Service 52s 1889 1914 IS
Grand Trunk of Canada IS 1896 92i4 923i
Houston E. d w. Texas SIS 1888 ~ go
H-cSS.s OIL 5izs 1882. ........ l00as 1901
S.aclede Gas Light Co. SIS 1894 1914 80
Kausville l. Nashville ss 1897 ~ "a
HS Vc-k Cent 6 Z. IS 1884 SO 6?
Ne% York. Chi. 4 st. L, 6S 1882 81 80
Northwestern Telep. Alas 1884 50 81
Penna. r. r. Co. 6I2s 1886. SO IS
Portland General Elec. IS 1885 SO IS
Republic Iron & Steel SIS 1910 .. as
Sinclair Crude Oil Co. SIPS 1898 l0l 1917,
Southern Pacific IS 1884. 80. 49,. IS
s.. l. I;Ms. Ry. R. = 9. IS 1888 4o,2 .43
Onion On Co. Of Calf. SIS 1885 80 coll
Virginia Rwy. 1 Power IS 1894 973s, ga
3nyt 0Bx14T491o00 ~ -
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-03-31
Special u. s. Probe
Ordered in Muncie
Liquor Plot Cases
DIVORCED OR NOT?
Her Problem Still Is UnSOIUed

DY 4 tmtS SpGCtut
. OBINSON, ILL.,, March 81
~ Meeting face to face with her
husband for the first time in
twelve years, Mrs. Mary Jane
Headley, comedy red-haired In
dianapoliS school teacher, re-
opened her court fight here to
learn whether she is married or
divorced.
Since her marriage to Richard
o. Headley, formerly of this city,
in Juarez, Mexico, in 1917, Mrs.
Headley has filed seventeen sep
arate suits in divorce proceedings
in local courts. She resides at 627
Stevens street, Indianapolis.
Hearing here Wednesday was on
a petition of Mrs. Hadley for
separate maintenance pending
decision by local court on whether
a divorce granted Headley in
Mexico last July is legal.
Headley's divorce was granted
there on allegation of deSertion
and incompatibility. The couple
lived together for seventeen days
following their marriage in Au-
gust, 1917.
Decision on the case was de-
layed until September following
the hearing Wednesday after
Headley filed a cross-complaint
to Mrs. Headley'S petition for
maintenance. Headley's attor-
neyS we're ordered to make more
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-03-31


Item POSTAGE
Letter postage
INCOME TAXES
Higher individual .........
Higher estate and gift 100000
Corporation income 100000
Rate OF 10 per cent consolidated corporation income
................. ................. 100000
Repeal of met 100000
Dividend exemption changes Observation-Disclosures. 100000
Corporation exemption
SALES EXCISE
Imported gasoline per gallon
Imported So
Malt,
Lubricating per gallon Observation-Disclosures. 100000
Cosmetics per
Frs per
Jewelry, 10 100000
Sporting goods cameras
Matches thousand 100000
Chewing
Radios monographs
Automobile, cent; trucks accessories nclud
ing tires per 100000
Yachts motorboas Observation-Disclosures.
Candy 100000
Cereal 100000
Mechanical
MISCELLANEOUS TAXES
Amusement admissions cents 100000
Telephone and telegraph cents be-
tween 80 SO 10 cents those
wires cent 100000
100000
Capital stock 500 100000
onefourth 100000
Total SO lar ADOPTED SozooOOOOO
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-03-31
new FORD 8 is
ON VIEW HERE
Prices Few Dollars More
Than Last Years as.

Henry Ford'S new eight-cylinder
automobile was placed on display
today in showrooms of Indianapolis
dealers at prices calculated to create
a sensation in the auto MANU-
featuring industry.
|. Selling at from $40 to $75 more
than the 81 tours, the new eight is
priced at the factory as low as $460,
with other models ranging upward
to $500.
The new tours, not yet on display,
will deliver for $50 less than the
Fights, dealers said.
The new four is virtually the same
as the eight, except for the mo-
tor. The V-type eight develops
65-horse power.
According to local dealers the
delivery price on the new cars in
indianapolis, including spare tire
and bumper, will be about $40 more
than the factory price.
Factory prices on new models as
compared with 81 model prices fol-
low: