davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-04-23
Resistance in Rails.

NEW YORK, April % (SpeciaD In
the daily record of new low prices for
stocks there have been few members of
the railroad group appearing for sew
eral weeks. In fact. no railroad low has
been quoted since last Thursday. The
on-dividend payers have been liqui-
dated to level that would discount re-
ceivership. Those that are still paying
dividends have been sold down below a
logical non-dividend basis, or to prices
that have not been recorded in from
30 to rs years and at about half their
market value when their properties
were showing only one-third their pres
ent property investment value.
Wall Street sees the resistance of the
rail group and the evidence that it has
been thoroughly liquidated as a point
in favor of slowing up of the decline
in the other two groups of stocks, in
dustrials and utilities. 1t has been the
history of the market ever since the
depression began that the reactions
were led in each case by the rails, and
that, as the downward movement in
this group ended, it brought steadiness
into the rest of the active list.
Evening star., 1932-04-23
NATIONAL COTTON
WEEK IS PLANNED
More Than 10000 Retail
Stores viii Aid in Sales
Campaign.
BY BRADLEY w. TRENT.

Special Dispatch to The Star.
NEW YORK. April 23.-More than
10000 retail stores throughout the
country have already promised to par
ticipate actively in the observance of
National Cotton week, May Is to 2I, It
was announced here today by the Cot
ton Textile Institute.
The Independent Grocers' Alliance Of
chicago, comprising more than 10000
retail units and lO7 iobbing organiza-
tlonS in Al States. is planning a special
promotion of cotton packaged groceries
during Cotton week. Ten other chains,
operating more than 1000 dry goods
and nations stores, have also offered
their corporation. The PENNSYLVANIA
Railroad will print all dining car menus
on cotton cloth during the week.
The cotton industry and retailers
generally in all sections of the country
are looking forward with confidence to
the attainment of the twofold objective
OF this unusual merchandising event"
the Cotton Textile Institute said
Ihese objectives are increased sales
volume of cotton goods and the acceler-
alton OF retail business generally"
Wnlle cotton consumption this sea-
0Oli AoS Ueeu greater tnan that OF
year ago-domestic consumption plus
exports being considered-the large
carry-over at the beginning of this
season and the large crop are re-
Sponsible for larger balance remain
ing IN this country at the end of
March than last year or two years ago.
Stock on hand now totals 13,4O7, 600
bales, compared with 9,422 900 a wear
ago and 6,970,000 two seasons ago.
While the export movement of cot
ton during the current season to data
totals 7,l42000 bales, compared with
$4,000 in the corresponding period
OF last season, the domestic trade sit
uation has caused drastic curtailment
OF manufacturing by mills since the
!st OF March. Print cloth mills, both
heavy and fine goods, are shutting
down one week in each month and
operations generally are less than SO
per cent Of capacity.
National Cotton week is expected to
give impetus to the seasonal increase
in cotton goods buying that is now
being noted. Interest in Summer lines
Is expanding, according to reports
made this week by leading factors In
dry goods quarters here. Cotton and
washable dresses are in demand. White
merchandise generally Is expected to
have coed season. The appearance
OF warmer weather will bring out many
delayed purchases, the trade believes.
Copyright, 1932)
Evening star., 1932-04-23
Washington Produce

Butter-One-pound prints, %; tub, ~.
Eggs-Hennery, IL; current receipts,
10.
Poultry, alive-Old toms, 12; young
toms, IS; hens, 20, crooked breasts
IL; Spring broilers, IL to 312 pounds,
23a25; Leghorn broilers, 20a21; Win.
ter chickens, l8a20; stays, IL; hens
large, 15a17; medium. 15a17: Leghorr
hens, IA; capons, large, 30a32; small
2Oa23; slips, l8; roosters, 10; keats
young, 45a50; old, 25a30.
Poultry, dressed-TurkeyS, old toms
Is; young tons, 18; hens, 26a29; crooked
breasts, 20; Spring broilers, III tc
So pounds, 26a2s; Leghorn broilers
23a24; Winter chickens, 21a23; stays
IS; rooSters, II; hens, large, 18a20i
hens, medium, 18a20; Leghorn hens
II; capons, large, 33a35; small, 23a26
slips, 81; rooSters, 13; keats, young
6oa7o: old, 3oa40
MeatS-Beef, prime, IA; good, 13,
veal, top, 10; good, II; lamb. top, III
good, 16; pork loins, 16; fresh hams
IA; smoked hams, 6; strip bacon, 16i
lard, 712; compound, 7.
Live stock-Hogs, lights and mediuma
4.4o; heavies, 3.50a4.50; pigs, 3.75a4.25'
rroughs, 20oa3;0o; calves, 3.0oa6.50,
lambs, 4.ooa7.50; Spring lambs, 500,
$50.
Fruits-Strawberries, North Carolina
quarts, 35; apples, bushel baskets
LOCAL 40; fancy box stock, 1.50a2. so;
oranges, 3.5Oa450; lemons, 4.Ooa4. so;
grapefruit. 2.25a3.Oo; honeydews, Chile
$50; pears, 3.50a4.50; alligator pears
2.00aS00; pineapples, AIS; ha-
nanas, 1.00a200; lines, per 100. 200,
rhubarb. hothouse, 75a85; plums, l5os
ZOO: nectarines, $50; cranberries, 450
egetables-Potatoes, Maine, 100
pound sacks, 1.25a1 40; New York, lis;
idaho bakers. 2.25a2.50: new, bushel
2.75a3.00: seed, 150-pound sacks, LISA
2.25; sweets, 75a1.00; string beans, soc
a5.50; limas, 500; spinach, home grown,
50a75 Norfolk, IS; kale, 40a60,
cabbage, 2.00a210; celery, 2.50a3.50;
eggplant, 3.00a3.5O; peppers, 3.50a4.0O;
cucumbers. Florida, baskets, 400a5 90;
turnipS. crates. 3.00a350; beets, 275a
800; carrots, 3.50a4.00; ome-grown,
bushel 200; tomatoes, pans, originals
2.50a3.00; repacks, 3 pans, 2.25a2. so;
mushrooms, 85a100; peas, California,
crates, 5.00a5.5o; Florida, baskets, 500
a3.50; squash, $50; lettuce, Iceberg,
225a2.50; asparagus. California, dozen
punches, 3.50a5.00.
Evening star., 1932-04-23
INSURANCE FIRMS
IN HOPEFUL MOOD
Election of Haid as Associa-
tion Executive Held Con-
Structive Step
BY ROLLIN NJ. CLARK.

The election Of Paul L. Haid. nov
president Of the America Fore group Of
insurance companies, numbering seven
in all and including the Continental
and F1delity-PheniX, as head of the
recently created Insurance Executives
Association, is being hailed throughout
the country today by fire insurance
leaders as marking the dawn Of a new
era for their business.
Although one Of the best organized
trades In the country, fire insurance
has had but one really great national
organization heretofore and that one,
the National Board of Fire Under
writer's, has never concerned itself with
rating and underwriting problems
which are, perhaps, the most acute Of
all those confronting the business.
1t was for the purpose of co-ordinat-
ing the practices of divisional and sec
tional underwriting associations and
rating bodies that the Insurance Exec
utives' Association was primarily found
ed. Other functions of the organiza-
ton will be to effect economies in ad-
ministration and to investigate and
penalize violations of rules which may
be established.
While it cannot be said that the pres
ident of this organization will exactly
correspond to a Will Hays or Judge
Landis he will, nevertheless, become
the most powerful figure in the fire in
surance business. At first it was be-
lieved that some prominent man in
public or business life with no fire in
Surance connection would be proffered
the post. Finally 1t was decided that
the problems Of the fire insurance bus
inesS could best be solved by one who
would not have to start from scratch.
with no knowledge of the many rami-
ficationS Of the industry. For that rea-
son the search began for an eminent
fire insurance executive who could be
drafted.
Mr. Haid, although only A years of
age, has spent % years in the fire in
surance business. About seven years
ago he was made president of the
America Fire Companies, one of the
most responsible positions in the fire
insurance business.
In presenting Mr. Haids name to
the Insurance Executives Association,
r. M Bissell, chairman of the board
of trustees, indicated that the i'm
mediate function of the organization
will be to reduce the operating eX-
penses of the fire insurance companies.
Mr.. Haid appreciates fully the cry
ing need for reduction in the burden
some expense ratios from which the
companies are now suffering" Mr..
Bissell said He is confident that the
Insurance Executives Association can
bring about economies in rate making,
Evening star., 1932-04-23
TRUNK LINE BANK
SYSTEM IS URGED
Indiana Suggestion Advanced
as Means of Strengthen
ing Institutions.
BY c. B. UPHAM.

A system of six or seven trunk lines"
of banks with widespread branches
covering the country, patterned after
the railroad consolidation plan now in
process of formation, is visioned by
Gavin Payne in the April issue Of The
Hoosier Banker" house organ Of the
Indiana Bankers Association, just made
public.
The indianapolis writer suggests the
practicability Of a few large banking
systems. each with a nucleus of a few
leading banks, and the great mass of
small country banks converted into
branches-a modified adaptation of the
Canadian system.
Group Banking.
The development of group banking
has been a step in that direction. The
Minneapolis and Detroit and Milwaukee
groups are in effect trunk lines" many
of their smaller banks being virtually
branches. and have the possibility of
expansion through conversion of all
small banks in the geographical area
into actual branches, when and If the
lesser extent of the smaller group bank
organizations in other sections of the
country
There is abundant evidence that the
banking trend would be strongly in the
direction indicated by Mr.. Payne if re-
strictive legislation did not prevent it.
A Nation wide consolidation of groups"
was in contemplation just prior to the
1929 stock market crash, and other
chain systems were in the minds Of
promoters.
One large New York bank is closely
linked through stock ownership with
prominent institutions in Baltimore and
New orleans and elsewhere, according
to reports, while two others Jointly own
banks in Florida. Each large city bank
has a group Of country banks, which
regard it as their principal correspond
ent While the grouping would un-
doubtedly present more difficulties than
in the case Of the railroads, it would
not seem to be impossible
The enactment of the branch bank
ing provisions of the pending Glass
bill, which would permit national banks
to have Statewide branches regardless
of State law, and in some cases limited
across -State-line branches, would make
legally possible a beginning in the di-
rection indicated by Mr.. Payne. Per-
haps combination Of Statewide
branch systems into wider units through
group bank holding companies will be
brought about.
See Stronger Banks.
When other industries get into diff
culties, it has been pointed out, mergers
and consultations and reorganizations
H. ~ 49,
of units. Banks are not permitted to
do that except in limited way. With
legislation to permit more freedom in
consultations, greater liberty in the es-
tablishment and operation Of branches,
and the development of national or
regional systems, many observers be-
lieve a stronger and more efficient
banking structure would result. making
impossible a recurrence of the bank
failure epidemic of the past 10 years.
tCopyright, 1922
Evening star., 1932-04-23
DRUG TRADE PLANS
BETTER BUSINESS
Problems Will Be Threshed Out
at Conference Next
Week.
BY F. A. RESCH.
Associated Press Financial Writer.

CHICAGO, April 23.-Leaders in the
retail drug business soon will fill out
prescription designed to strengthen
the economic structure Of their vast in
dustry.
1t will be based on results of a sur
vey of the retail drug field by the De-
partment Of Commerce, whose opera
tionS extend throughout the Nation.
Feasible means Of tranSlating the sur
vey's recommendations into profitable
practice will be formulated by the
trades leading executives in the ma
tional drug store survey conference in
st. Louis, April 26 and 27.
On the basis Of this ANALYSIS of the
industry's problems, new policies of
business operation and merchandising
will be recommended t. the Nation S
more than 81 900 drug stores.
Thus far economic adversity has not
made itself seriously felt across the Ma
tions drug counter, with only slight
shrinkage in the volume Of sales on
merchandise strictly classified as drugs.
But the National Association of Re
tail Druggists has found that the aver
age drug stores sundry sidelines-its
soda fountain, cigar counter and miscel-
lany merchandise-have suffered a far
greater stump.
In most cases, says Samuel C. Henry,
secretary of the association. the drug
store proprietor now is able to make
ends meet principally because his drug
business proper-the foundation Of his
store-has held close to par
Strictly drug sales normally amount
to less than half of a drug stores total
business. In 1880 gross trade of the
Nations drug stores was approximately
1890 000,0 900, of which about s837.-
100000 was received over the drug
counter
The National Association, represent
ing more than $4,000 drug stores, has
found that most proprietors have been
successful in adjusting costs Of opera
ton to reduced receipts, principally by
lowering overhead expenses and hold
ing employees to a minimum.
Evening star., 1932-04-23
BONDS ARE LOWER
! IN ACTIVE MARKET
Lack of Buying interest Re-
suits in Further Price
Decline.
BY +. H. RICHARDSON.

Special Dispatch to The Star.
NEW YORK, April 23.-Bonds were
lower today, rejecting the unsettlement
in stocks. Trading was moderately
active.
The market opened irregularly lower,
with some issues showing signs Of firm
ness. The steadiness Of the market
yesterday in the face Of the selling Of
stocks was interpreted as q sign that
the Federal Reserves buying of Treas
uries and Liberties was still bolstering
up the general list
Most observers agree that there is
nov no important volume of real liqui-
dation in bonds and that switching OPP
lerations to tax-exempt descriptions
have largely been completed. This has
brought bond transactions down to less
than half the volume of earlier in the
week, but because Of the absence Of
bidders prices are still inclined to sag.
Time money rates today were shade
firmer.
United States Government issues
moved lower, the largest losses occur
ring in the low coupon treasures.
Treasury IS we're of nearly n point
and the 3ass about "a point. Liberty
leans were steadier Treasury notes
were little below their best prices Of
the year. The 334s due in February,
1888, recently quoted at better than
2-point premium, were offered today at
a premium of 26-32 and bid for at
! 24-32 Treasury bills were about IS
per cent bid and .25 per cent offered
High-grade corporation bonds were
heavy American Telephone SIS, New
York Telephone AIS. Consolidated Gas
612s. Duquesne Light AVS, Atchison
General Is, Norfolk g. Western As and
Union Pacific first Is had small losses.
Junior railroad bonds had larger de-
clines.
The foreign list was again compare
lively inactive. German government
issues were inclined to retrace some
of the ground lost Friday. Great
Britain 5ils were firm. South Ameri-
can bonds eased.
Evening star., 1932-04-23
CURB STOCKS DULL
IN NARROW RANGE
Oil Shares Sell OFF Despite In
crease in Gasoline
Prices.
BY JOHN A. CRONE.

Special Dispatch to The Star.
NEW YORK, April 23.-Stocks were
dull and irregular today on the Curb
Exchange.
Among the leaders, Electric Bond &
Share firmed up around IA. while Cities
Service eased to 414 Niagara Hudson
Power was up a shade, but United
Light e. Power A was soft.
Despite the price rise in gasoline an
nounced today by Standard OIL of Ohio
that stock reacted. Humble Oil on
few trades yielded a point. Gulf Oil
of Pennsylvania eased in the first hour,
but International Petroleum and I'M
perial Oil displayed a firmer under
tone
Associated Gas g. Electric reported
electrical output for the week OF 48,-
309,434 kilowatt hours, against Al
702 ,222 in the preceding week, but this
showing was virtually ignored on the
tape. Utilities Power & Light likewise
paid little attention to the announce
ment that 1881 electrical output for the
American properties was off only one
half Of l per cent from 1880 and that
the British properties, partly due to
acquisition of new companies showed
a gain of 2544 per cent in output.
Omission OF the NeiSner Bros pre-
ferred dividend had been expected.
The company explained its action was
due to the expansion program OF the
last two years British Home stores,
Inc. the English subsidiary, reports
sales in the first quarter showed gain
of al per cent over the same 1881 pc
riod.
United States Foil B and United Shoe
Machinery were among the first shares
to touch new minimum marks. Pure
Oil preferred, however, recovered
point. Gray Telephone Pay station
which broke 124 points Wednesday,
rallied somewhat today.
New Jersey Zinc rose "a points to
2134, while Aluminium Co. Of America
common sold of. Stutz Motor eased.
Ford Motor Ltd. came out at 4, up 70.
General Electric, Ltd, was somewhat
more active than usual, but British
shares generally Jagged.
Evening star., 1932-04-23
BANK CLEARINGS GAIN
SLIGHTLY DURING WEEK
BY the Associated Press.

BY the Associated Press.
NEW YORK, April 23.-Bank clear
ings this week we're somewhat larger
than they were in the preceding week
but still are very much below the
amount recorded in April a year ago.
The total for all leading cities in the
United States, as reported to Dun's
Review, Of $4,912, ,267 900 was AIS per
cent below that of last year. At New
York City clearings were $3,156 1865, 900,
reduction of 461 per cent, while the
total for the cities outside of New York
of s1,755, ,402, 900 was 800 per cent
smaller
The increase in bank clearings this
week over last week was approximately
$241 100000, whereas year ago it was
s454, 100000 A part Of the larger clear
1ngs this week appeared at New York
and probably represented income tax
payments, the latter apparently being
smaller this year than a year ago. A
number of the more important cities in
the East and West continue to show
heavy losses this year compared with
1881, but at Scme cities in the South
the decline is less severe.
The figures at leading cities, as COM
piled by r. G.. Dun & Co., showing de-
creaSes as compared with same period
a year ago, follow:
Evening star., 1932-04-23
Reparations Bonds.

T NEW YORK, April % (SpeciaD -
The controversy at the Senate hearing
Thursday over the German reparations
bonds brought out facts that were al
ready we'll known and reflected the Bit
herness of the investing public. which
has always felt that these bonds were
issued at too high price and that too
much preliminary work was done by
the syndicate in stimulating other Ger
man issues and later quoting a premium
on the new bonds to encourage reluc-
tant buyers to subscribe to them.
While it is true that the buyer could
have sold at small profit almost i'm
4nediately, he made his purchase for a
1ong-term investment and quickly dis
covered that he had bought an over
priced issue which was selling abroad
well under the market for the dollar
portion Of the loan.
Evening star., 1932-04-23
Baltimore Markets
Special Dispatch to The Star.

Special Dispatch to The Star.
BALTIMORE, Md, April 23.-White
potatoes, per 100 pounds, 75a1.10; sweet.
potatoes. bushel, 40a75; yams, LISA
ITS; beans, bushel, 2.50a5. so; beets,
crate, 2.50a2.75; cabbage, hamper, 1 .00a
200; carrots, crate, 3.25a350: cauli-
flower, crate, $50; celery, crate, I.OOa
800; kale, crate, 15a25; eggplants,
crate, l.00a275; lettuce, crate, 25Oa
$50; mushrooms, basket, 35a80; onions,
per 100 pounds 5.0oa6OO: Spring
onions, 100, 40a75; oysterplants, 100,
5.00a600; peppers, crate, 2O0a5. so;
radishes, hamper, 50a100; spinach,
bushel, 35a65: squash, buslNl LISA
2.50 tomatoes, crate, 100a300 apples,
bushel, 75a200; grapefruit. box, I5Oa
3.25; oranges, box, 2.75a425; strawber-
ries, quart, 10a30.
Dairy Markets.
Chickens-Young, 23a27; Leghorns,
1922 old hens, 14a18; Leghorns, old,
Is; roosters. 10all; ducks. 12a20:
pigeons, pair. 20a25.
Eggs-ReceiptS, 3,576 cases: current
receipts. 1l1@; duck eggs, 10a14
Butter-Good and fancy. creamery,
20a22; ladies, 15a16; process, 18aI9;
store packed, 10a11.
Evening star., 1932-04-23

adjustment costs, consultations in
minor organizations and along other
lines which will far outweigh the post
Of conducting the association"
Mr.. Haid has been assured of the CO.
operation and assistance of the full
membership of the association, which
embraces practically all Of the leading
fire insurance Offices. With an organi-
Zation capable of tackling Nationwide
problems of fire insurance now set up
for the first time in the history of the
business and with a leader who COM
mands the respect and support of the
members, Mr.. Bissell believes that "a
saner, more economical and at the
same time more useful functioning on
the part of insurance companies" will
result.
(Copyrisht, 1922
Evening star., 1932-04-23
Petition in Bankruptcy.

BALTIMORE, April % Especially -
Louis A. Dent, a lawyer. of Silver
Spring, has filed a petition in the
United States District Court asking to
be adjudicated a bankrupt The petit
toner has $3.50 assets and $26,116.77
liabilities.
Orders were signed adjudicating him
bankrupt and referring the case to
Willis E. Myers, referee.
Evening star., 1932-04-23
Lumber Production.

NEW YORK, April % (P).-Produc-
ton Of lumber continues at approx
mately half the volume cut this time a
year ago and orders received by the
mills during the week ended April 16
exceeded the cut by IL per cent, ac-
cording to the National Lumber Manu-
facturers' Association,
Evening star., 1932-04-23
NEW DAIRY COMPANY.

BALTIMORE, April 20 (SpeciaD -
A new dairy. to be known as the Wash
ington Maid, Inc. of Hyattsville, Md,
has been incorporated under the State
laws of Maryland. The capital stock
consists Of $50 shares Of common stock,
par value 500, and Nick Chumas,
Demetrios Harsoulas and George Sakel-
lar1s, all of Washington, are the In
corporators.
Evening star., 1932-04-23
New York Bank Rate.

NEW YORK. April % Especially -
The delay in reducing the Federal Re-
serve rediscount rate in New York is
incomprehensible to a considerable sec
ton of the banking element in New
York and in the interior There is now
a spread of 2 per cent between this rate
and the bill rate
Evening star., 1932-04-23
Six in Family Work on Train.

John Mead Of Tondu, Wales, is a
conductor Of a Great western railway
train. on which his five sons are re-
spectiyely engineer. fireman and brake
men
Evening star., 1932-04-23

The land on which Philadelphia now
lies was bought from the Indians by
the Swedes and sold by them early In
Narrr 1882 to William Penn.
Evening star., 1932-04-23
CHICAGO STOCK MARKET

CHICAGO, April % (P).-Following
is the complete official list of transac-
tions in stocks on the Chicago Stock
Exchange TODAY.
Evening star., 1932-04-23
Washington Stock Exchange.

SALES.
Capital Traction Co.'s at Is, 10 at
13, 5 at 13.
AFTER CALL.
3National Mtge. & Inv. pfd.-60 at az.
Evening star., 1932-04-23

The Union of Soviet Socialist Repub-
Hes covers one-sixth of the globes sur
lace.
Evening star., 1932-04-23
BALTIMORE STOCKS.
Special Dispatch to The Star.

Special Dispatch to The Star.
BALTIMORE, April %
Sales. STOCKS. Last sales
SIS Black q Decker com m......... 2
C & P Telephone BALTIC pf..... Ill
2 Gonsolidat Gas s.. cum pfd A. ss
1855 Maryland Casualty Co...
10 New Amsterdam Cas- Co... 1914
70 U Fidelity & Guaranty.......
BONDS.
200 Baltimore City As 1861. ....... e5
Evening star., 1932-04-23

Dividend rates IN dollars based on last
quarterly or semI-annual payment. 'Ex
dividend. tPartly extra. tPlus 47s in stock.
Payable in cash or stock playable in
stock. Adjustment dividend. fPlus So.
in in st0ek Pus ~ ~ IN IN stoep ftSi Pua Pss
in stock. m Plus sE in stock n Plus sSs in
stock D Paid last year-no regular rate.
Evening star., 1932-04-23
Trade Reports at a Glance.


NEW YORK April 23Tabod review Of wholesale and retail bu
conditions Badss following
in he ding laSt year
Evening star., 1932-04-23
Bid and Asked Prices.
STOCKS.
PUBLIC UTILITY.

Amer. Tel & Tel. t0 0......... s!h .;:;:
Capital Traction Co. 0l ..... lSb
Wash Gas Light Co. Clo .... 30 E
N & w Steamboat i2l ....... l37 1I5
Pot Elec. Power 6T pfd ...... 1924 III
pot Elec. Pow, 513fS pfd....... 1Q3 1gV6o
Wash Ry. & e. com. tD...... 10 zo9
Wash Rwy. & Elec. pfd. (5).. 6O47 90