davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-07-31
PERIOD JUST AHEAD
. IS HELD IMPORTANT
Leaders Hopeful Business
Betterment Laws Will
Aid Situation.
BY CHAS. p. SHAEFFER,
Associated Press Business Writer.

The next few months may prove q
period Of great moment for American
business.
With the forces Of recovery asserting
themselves in steady to buoyant stock
market quotations, rising grain prices,
decreasing bank failures, commodity
prices moving upward and general con-
fidence gaining, the remedial measures
approved by Congress late in the ses-
sion will become effective, in the opin-
ion of many Government officials in
close touch with the business situation,
at an extremely auspicious time.
II Is their confident hope that as
these business betterment laws become
operative they will have the welcome
effect Of keeping the industry pendulum
on It's upward swing, or at least Of pre-
venting any serious, If temporary, re-
cession. These measures are being given,
or are about to be given, force, although
month or two must elapse before their
accomplishments can be gauged.
Reorganization Complete.
President Hoover has completed the
reorganization of the Reconstruction
Finance Corporation with the appoint
ment of Atlee Pomerene, to be named
chairman, and Charles A. Miller, to be-
come its president. The corporation is
ready to begin lending money for pub
lie and quasi-public projects of a self
liquidating nature-ton bridges, tunnels,
limited-dividend corporation housing
projects and the like-which are ex-
pected to take many names from the
list of the unemployed and put many
dnlIorS fn unrk olroodU has hoC1IY1
allotting $500, ,00O. 900 to the States for
unemployment relief, which money it Is
hoped also will serve to stimulate trade.
The Department of Agriculture has
parceled out to the States the $780,
100000 provided by the relief bill for
highway construction. Department off,
ciak estimate that if the States CO.
operate, this fund will provide employ
ment for 100000 men within four or
five weeks, in addition to proving q
boon TO companies producing road
building materials and machinery.
Turns to Home Banks.
The President is preparing to appoint
the members Of the Home Loan Bank
Board and set that system to function
ing. 1t will establish chain OF banks
designed to stimulate home building by
providing credit and financing. An es-
timated several months must pass be-
fore it will be working at full speed.
Attached to the home loan bank bill
was an amendment empowering ma
tional banks to issue new currency
backed by their holdings of Government
bonds. The banks themselves have
shown keen interest in taking advan-
tage of this provision. If the currency
is used for commercial loans, it is pre-
dicted here the result will be better
credit situation and slight decrease in
money rates.
Oficials are now concentrating more
than ever before on increasing employ
ment and the purchasing power Of the
masses by getting new projects in prog
ress. The latter. generally speaking,
was the purpose of most of the newly
enacted business legislation.
Evening star., 1932-07-31
SENTIMENT BETTER
IN STEEL MARKET
Improved Demand in September
Anticipated-0ther Metals
Also Pick Up.
Nv tho Associated prexs

BY the Associated Press.
NEW YORK, July 30.-A more cheer
full tone was noted in the steel market
this week, although there was no gain
In production, which remained at Is per
cent of ingot capacity. Better senti-
ment is based on anticipation of i'm
seasonal buying for various lines is ex-
pected to pick up. This, however, would
be partly offset by usual seasonal de-
clines in the automobile and canning
industries, 1t is said. Structural awards
were maintained and there were hopes
for improved demand from railroads.
Prices continued steady, with scrap quo
tationS advancing in some markets.
There was no change in pig iron, al
though a downward readjustment in
price in one district was reported.
slightly better tone was noted in
the copper market late in the week,
partly in sympathy with an upturn at
London and better demand from the
continent. Moderate offerings from
Japan in European markets at conces-
sions which had caused an easier under
tone recently were said to have been
absorbed. In the domestic market SELL
ers held firm at 5l4 cents for elec-
trolytic delivered in the Connecticut
Valley but business was limited to
small lots for immediate shipment.
Tin was firmer, rejecting better in
quiry from consumers who had re-
stricted purchases for some time and
found it necessary to re-enter the mar
ket. Ffrmness at London aided the
local tone and the trade generally noted
more cheerful feeling.
Strength of lead resulted from the
policy adopted by producers Of limiting
sales to restricted production. This at
tracted a rather general demand from
consumers and inquiry was said to be
larger than the volume of sales pro-
ducers would accept. Buying extended
into September shipment.
Zinc remained dull and unchanged.
Sellers were willing to accept some Oc-
tober business at current shipment quo
tations and moderate sales resulted, but
otherwise there was no fresh feature.
Antimony was nominally unchanged
in the absence of business.
Evening star., 1932-07-31
BANK CLEAR|NGS
HIT BY 2-CENT TAX
Total Number of Checks Can.
ceIed in July Reveals
Marked Decrease.

Bank clearings in Washington in July
reflected the effect Of the 2-cent tax
placed on checks in the revenue in
ereasing measure passed by Congress.
July was the first full month since the
new revenue law went into operation
so that the Clearing House Association
figures, made public yesterday, are Of
unusual interest and Importance.
Clearings in the National Capital in
July totaled SIC, ,646, HIP against $685.
499 ,660.70 in the previous month OF
June and $l00,887 l67.37. in July OF
last year.
Clearings in Washington for the first
seven months of the eos present 93s aa5 year ar
comparison with a total of $3.50 ,681 =
265,l1 in the first seven months Of 1881.
Tax May Interfere.
July and August are supposed usually
the dullest business months OF the year
so that decrease from the June figures
had been anticipated. The amount of
the difference was more than expected,
however.
Bank clearings have always been con-
sidered one of the best barometers OF
business dCIlV1Jy od1lhcA
said yesterday that the new tax on
checks may make the clearing figures
less valuable as a trade gauge, until
the tax serves its time.
The increase in counter checks in the
local banks has been tremendous, bank
ers report. These checks are worded as
receipts and no tax is charged on them.
Furthermore, they do not pass through
the clearing house so are not reflected
in the clearings. Yet practically all
the cash drawn in this way Is used for
the payment Of bills and making new
purchases.
Total Cut Materially.
With the increased use of counter
checks and the payment of bills in
cash, the total number of checks pass
ing through the Clearing House has
been greatly reduced. The reduction
in the number of checks from each bank
sent daily to the Clearing House cuts
down the monthly total materially, pre-
senting an angle not considered at the
time the law was passed.
According to the figures kept by the
manager Of the Washington Clearing
House Association, Charles z. Bright,
total clearings, by months, so far his
year compare as follows with the cor
responding months of 1891:
Evening star., 1932-07-31
DULLNESS MARKS
RESERVE DISTRICT
Declines Shown in Virtually
All Lines in Monthly Re-
port for July.
BY the Associated Press.

By the Associated Press.
RICHMOND, Va, July 30.-Business
In the fifth Federal Reserve district
during the past month was character
lied by normal seasonal dullness, the
Reserve Bank Of Richmond said today
in its monthly review of credit, business
and agricultural conditions.
Commercial failures in the District
in June were greater than in June, 1881,
both in number and in liabilities in
volved and the district comparison with
the 1881 record was materially worse
than the comparison of figures for the
United States as whole, both as re-
CARDS number and liabilities, the report
said.
Employment conditions showed con-
trasting tendencies, with a few plants
taking on some additional workers'
while others curtailed operation. Con-
struction work continued to decline.
Coal Production OF.
Coal production in June continued
far below last years level, while textile
mills reported further restriction OF
operations in June, though there has
been some increase in July. Nearly all
textile mills are working on materially
restricted schedules to prevent accumu-
lation of products.
Cotton prices rose approximately
cent a pound during the month, but
are still much lower than prices at
this time last year.
Official acreage figures show reduc-
ton Of 9.5 per cent in this years cot
ton crop for the country as whole
but this reduction is not sutnclent TO
overcome the effect on prices OF the
large surplus on hand.
Construction work provided for In
permits issued and contracts awarded
in June was much lower than the small
amount of June last year.
Retail trade showed a decline OF 22,8
per cent from last year, and wholesale
trade in five lines was also in mate
rally less volume.
Rediscount Increases.
Agricultural developments in the lat
ter part of June and early July were
favorable as a whole, but prospects for
Yields are poorer than a year ago. and
the price situation is also less favor
able. Acreage in many crops is lower,
and in the case of tobacco, so much SO
that beneficial effects on prices may
result.
The bank reported that rediscounts
for its member banks rose between June
Is and July 49, and on the latter date
was materially higher than year ago.
Its holdings of Government securities
remained unchanged during the month,
but on the latter date was about so per
cent higher than a year ago. Total
earning assets mounted to a point SIS
per cent greater than a year ago.
Circulation OF Federal Reserve notes
inrraa cod cnnQllV and demand
deposits declined, while time deposits
showed a moderate rise. Reporting
member banks reduced their reserve
at the Reserve Bank and increased their
borrowings to some extent. Debts to
| individual accounts showed a seasonal
| increase, and total debts in "a cities
for the first half of the year were 81
per cent below those Of the first half Of
1881, every city reporting lower figures.
Evening star., 1932-07-31
ITALY BUYING MORE
COTTON IN AMERICA
BY the Associated Press.

By the Associated Press.
The Commerce Departments textile
division reports that Italy continued to
take more United States cotton and
less of foreign production during May.
1t imported $4,000 bales from the
United States as compared with So. 900
bales in April and fl 900 bales in May,
1881. Italian cotton imports from ma
tions other than the United States were
$500 bales in May, as compared with
10000 for April and $4,000 for May,
1881.
Over the 10-month period from Au-
gust. 1881, to May, 1882, Italy bought
$4,000 bales Of American and 1888, 900
bales Of other foreign cotton. The first
figure was an increase of 10000 bales
over the corresponding period Of the
1930-3l season. and the latter a de-
crease of $1,000 bales.
Evening star., 1932-07-31

developed to assist in relief OF unem-
ployment, attention was devoted to
fiscal problems of the states and cities
that prevent the use of public credit
for such projects. Plans were made to
develop this feature of the committees
work as rapidly as possible. 1t was
recognized that sound budgetry prac-
Ices and reduction of ordinary expendi-
lures would in most cases be necessary
before basis could be found for wise
use of public credit to initiate neces-
sary Improvements that have been de-
ferred.
Plans were developed for completing
the organization Of local committees
In various sections Of the Fifth District
to cooperate with the main committee.
Chairman Graham said In conclusion. :.
Evening star., 1932-07-31
Standard Brands Net.

Standard Brands, Inc, and subsid-
iaries report for the three months ended
June 80 net income Of $4,025 ,682, equi-
valent, after charges, to 30.5l cents per
share on 12.644,713 shares of common
stock outstanding. This compares with
$4,017,657, or 30.45 cents per share in
the first quarter of this year and with
81, ,406,379, or 3280 cents per share in
the second quarter of last year.
Evening star., 1932-07-31
CHICAGO POTATO MARKET.

CHICAGO, July 80 R)-CUnited
States Department of Agriculture) -
Potatoes, 81 cars; on track, 2o9; total
U. S shipments, 256; dull, trading only
fair; Cobblers, Missouri and Kansas,
u. S. No. /, 70-75: partly graded, Sigh
" decayed and dirty, 55-65 Nebraska,
U. S. No. /, 1875: Virginia, barrels.
2.2o; Nebraska Triumphs, 1.25; Idaho,
l.66: Minneseta Eafly 0hioss e0-ss, =
Evening star., 1932-07-31
Penney Reports Net.

The J. C. Penney Co. reports net
earnings for the six months ended June
80. after deductions for Federal taxes,
but before preferred stock dividend re-
quirements Of $2,6O3,257. This COM
pares with net earnings for the same
period of last year, from all sources, Of
S42IO, ,9O9
Evening star., 1932-07-31
BUYS REFINING PROCESS.

NEW YORK, July 80 P).-Plans for
making the hydrogenation gasoline re-
fining process available to all American
oil refining interests were announced to-
day. Standard Oil Co. of New Jersey
acquired American rights to the process
from the German inventors. To provide
for its use by other refining interests,
Standard of New Jersey formed the
Hydro Patents Co, whose stock will be
offered to the various companies,
Evening star., 1932-07-31
VOLUME SMALL.

NEW YORK, July 30 R.-Despite
the sharp increase in trading this week,
July business In shares stocks on the
stock exchange ran to about the small
shares,
Evening star., 1932-07-31
Insurance Payments.

NEW YORK, July 80 (SpeciaD -
Over sl23,000,000, including more than
s31 ,000,0 900 In dividends. was paid by
the New York Like Insurance Co. to
policyholders and benenciaries In the
first six months Of 1882, President
Thomas A. Buelmer anlacunce& -.
Evening star., 1932-07-31
DIVIDEND CHANGES.

NEW YORK, July 80 R.-There
were go unfavorable dividend changes
during the week, compared with So in
the previous week, the Standard Sta
tistics Co. reports. Favorable changes
totaled Ok, compared With tAyee, !,
Evening star., 1932-07-31
NEW YORK CLEARING HOUSE

NEW YORK, July 80 P.-The
weekly statement Of the New York
Clearing House shows:
Total surplus and undivided profits,
1928, 10000 (unchanged); total net
demand deposits (average), $Il.l62 900
Gncrease); time deposits, (average)
1904 900 Gncrease); clearings week
ending today, $2,452, $40 .o3s; clearings
week ending July %, $2,2S5,479O52.
Evening star., 1932-07-31
DRY GOODS MARKET.

NEW YORK, July 80 (speciaD Cot
ton goods markets were active today
Print cloths were quoted unchanged
at 35 for 64x60s and at 31z for 66x72s.
Raw silks were active and . cents
higher. L.-l---..
Evening star., 1932-07-31
Business Increase
Leads Brokers to
Keep Their Seats
BY the Associated Press.

BY the Associated Press.
NEW YORK, July 30.-Gossip
in brokerage circles is that the
increase in business on the Stock
Exchange has lifted a consid-
cradle pressure from the market
for Stock Exchange seats. 1t is
said that some brokers who were
thinking seriously of transferring
their memberships have decided
to hang on now that the market
shows signs Of affording them a
living. The last seat sale, made
about week ago at 100000, was
at an advance of $22,00 over
the low for the year, established
several weeks ago.
Evening star., 1932-07-31
RUBBER MARKET.

NEW YORK, July 30 (SpeciaD -
Crude rubber, smoked ribbed sheets was
unchanged at today's quotation OF
3 Lie. This compares with 11-16 o
rleRth ago and 81 0 year ago -
Evening star., 1932-07-31
Advance in Securities Helps
Financial Institutions as
Well as Investors.
INCREASE SHOULD AID
IN INFLUENCING LOANS
Gains Also Regarded as Boon to
Federal Reserve Program of
Credit Expansion.
BY the Associated Press.

BY the Associated Press.
NEW YORK, July 30.-The rebound
in security prices in the past few weeks
has restored some $10,0O0,000 900 to the
quoted value of securities traded in the
New York markets, Wall Street statisti-
clans estimate.
While the total quoted value Of listed
securities Is highly theoretical value,
for obviously not all of the securities
could be sold at that price as a prac-
tical financial operation, this quoted
value is vitality important to financial
institutions, and in consequence to the
general public, as well as to individual
investors.
Will Help Confidence.
Securities are one Of the principal
forms of collateral accepted by banks
as security for loans, and banks have
long been accustomed to guage the
amount which can be loaned against
securities by their quoted or day-to-
day market value. Furthermore, banks
are themselves large investors In bonds.
Wall Street banking authorities feel
that this restoration Of quoted value
should go far in restoring the conf
dence of bankers and thus influencing
them to loan more freely to commercial
borrowers. With the Autumn period
approaching, when there Is normally q
substantial increase in the volume OF
business, credit should be more readily
available to finance it. The Federal
Reserve systems program Of credit ex-
pansion as a spur to business should be
greatly facilitated.
The importance of security values IN
matters of bank credit Is manifest IN
the consolidated weekly reports OF the
Reserve member banks in 10l leading
cities. These banks comprise roughly
half OF the countrys total banking re-
sources. The latest statement, as OF
July 20, showed that of total loans OF
S1l,028, ,000, 900, almost half, or $4,614,-
600. 900 represented loans against Sc
curity collateral And of total invest
ments of s7,3O5 600. 900, a substantial
portion, or 81. 4.107, ,000. 900 was in United
States Government Securities, but the
remainder was in other miscellaneous
issues.
Brokers' Loans Reduced.
Liquidation of loans to brokers and
dealers provided an important phase
earlier in the decline in the security
markets, but more recently, substantial
ly greater liquidation has come from
the collateral held by banks against
loans made directly to their clients.
The present total Of brokers loans In
the New York market has been re-
duced, according to the latest weekly
statement, to 1891 100000, a drop OF
about $20O,0o0,000 In the past six
months, while the total of weekly re-
porting members banks loans against
security collateral has been cut by ap-
proximately $1,000 100000 in that
period, to It's latest reported total OF
S4,614,000,000
The increase in the quoted value OF
bank investments is also cheering to
bankers, and is as well a boon to in
surance companies, which are large
holders of both bonds and stocks.
Evening star., 1932-07-31

Cardiff, Wales. wishes TO annex Pen
art in Glamorgan county, and has Of
fered to pay the county s1,00o, 900 for
its loss In taxes when Penarth becomes
paKt Of the city. r. ...sl4 .sai !. .x ,.ae.m
Washington Journal., 1932-08-19
Sod ni9t erfunoen.

Sod niat erunoen.
n@s lit mirfli6 itaunensmert, mas
i9on aaes erfunoen porOen 1T:
Sabren obne &fero, Selegrapbie
obne 9rabt, @uloer obne &auf,
&rieg obne Soloaten; iebt feblt BLOB
nod eins!"
Limb oas pdre?"
nMiteift obne 6rau!"
- Meint's ngie
gebt's Sbnen 0enn nod2"
.9anfe, ni9t DEFENDERS. Set
geitern Iebe i6 BON Gid uno Set
gei9ieoen."
r8as Sic niGt iagen! SD bab
iibrieens gar nidt getpuBt, oaB Sic
perbeiratet puren."
ngerbeiratet? feline Spur. Die
M0bel bat man mir gepfanoetl~
Washington Journal., 1932-08-19

Ii6 iein uiroe, fDenn iie i'm Nidt
a6ten fonnte; uno 10 freute iie iiH
iest, tpie ser 9oeel itd freut, ruenn
er ieinem SGfig entronnen lit.
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1932-01-14
Hackney

Mrs Fred Gorrel visited last
week with her daughter Mrs, E. A,
Combs and family.
Miss Irene Hupp spent the week
end with Miss Blanch Conn.
Mr.. and Mrs. w. G. McFerren
motored to GAINESVILLE last Thurs
day, to see their sister-in-law Mrs.
Sylvia McFerren who underwent 4
serious operation for adhesions,
Jan. II. She is very weak, but get
ting along as well as could be ex-
pected.
Miss Nellie Conn daughter of Mr..
and Mrs. d. B. Conn and Hoy Hilton
son of Mr.. and Mrs. L. M. Hilton
were married last Saturday and on
Monday night were given an old
time ''belling" by their many
friends. Mrs. Hilton has been
teaching school for several years
and is now one of the teachers in
Hackney school. We extend con-
gratulations.
Sabbath school next Sabbath at
Smiths Chapel at $50 a. M, and
Christian Endeavor followed by
preaching Sunday evening by Rev.
Peoples.
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1932-01-14
EaglepOrt

Sunday school at $50 a. m.
Prayer meeting at 10:30, and
preaching at 7:30 p. m. Rev. Doug
las, pastor.
Mrs. B. A. Clifton and son Leon
ard and Mrs. C. E. Clifton Of Nc
Connelsville visited Wednesday
with Mrs. w. M Henry and fam
lily.
Miss Eleanor Roberts Of Nc
Henry Station is visiting her sis
ter, Mrs. Graydon Clifton.
Mrs. Opal Mankey has returned
to the home of her parents, Mr.
and Mrs. l.. f. Clifton, after TAX
ing medical treatment at Bethesda
hospital, GAINESVILLE.
Mr. and Mrs. Roy Robb anC
daughter Norma of PhiIo, spent
Sunday with Carlos Robb and fam
lily.
Mr. and Mrs. Harold Henry
were callers in GAINESVILLE, Tuesday
Mr.. and Mrs. e. H. Eye of Sharp
Ridge spent Sunday with Mr.. and
Mrs. Raymond Fouts of Durant
VIM. Brown of Island Run who
has been i'll, remains about the
same.
Mr.. and Mrs Russell Eye and
daughter Eloise and Miss Gertrude
Robb visited Sunday evening with
A. II. Eppley's.
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1932-01-14
Dies In GAINESVILLE

Mrs. Jane Ann Moore. former
resident of this place, died Satur-
day morning at the home of her
daughter, Mrs. Fanny Scott, OF
GAINESVILLE, following a two days
illness from bronchial pneumonia
Her maiden name was Jane Ann
Williams, her parents residing in
Penn township, and she was the
widow of Frank Moore who died a
number Of years ago. Mrs Moore
had been a resident of GAINESVILLE
since 1913, making her home with
her daughter, Mrs. Scott. Surviv-
ing are three children, Mrs. Scott
Mrs Mamie Ridgley, wife of Tru
man Ridgley and Charles C. Moore,
both of McConnelsville Three
grandchildren. Charles Ridgley of
this place, Mrs. L. R. Taylor and
Miss Helen Ridgley of GAINESVILLE,
and one great grandchild also sur
vive. She was member of the
McConnelsville NJ. P. church.
Funeral services were held Tues
day at p. M, from the Dean Fu-
neral home, GAINESVILLE, with burial
in Greenwood cemetery.
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1932-01-14
Death Takes Ellen Evans Bird

Mrs. Ellen Evans Bird, one of the
older residents of McConnelsville,
died at II O'Clock Saturday night
from infirmities. She had been in
poor health for the past three years,
her last illness being of about ten
days duration, during which she
was cared for by relative, Mrs.
Basil Henery, at whose home her
death occurred.
Ellen Evans Bird, was born in Nc
Connelsville about 70 years ago
and spent her entire life in this
place. She was a daughter of John
and Ella Donahue Evans, who died
number Of years ago. About 20
years ago she married John Bird, a
Civil war veteran, whose death oc-
Cured several years ago A sister
Miss Molie, is also deceased She
was the last Of her family, Hugh
Donahue Of this place, and Miss
Kate Lyons of New York City, are
first cousins, and Mrs. Basil Henery
a second cousin, these being the
nearest remaining relatives. She
was member of st. James Cath
Ollie church, and Of Phil H. Sheri-
dan w. r. C.
Funeral services were conducted
at the ST. James church Tuesday
morning at 9 o'clock, with burial in
the McConnelsville cemetery.
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1932-01-14
To Resurface State Road To The
Common

The state highway department
has extended the road building
project recently sold, for the con-
crete road No. 81, from Beverly to
the Clair White place, east of
town, so that it will come here to
the common. The brick road from
Mr. VIM. Shilling's to the common
will be widened and resurfaced
There will be a few changes in the
location, but it is stated that for
the most part it will follow the
present roadway. Probably the
greatest change will be in doing
away with the sharp curve at the
Walter Deedrick filing station.