davidaulloa/AmericanStories huggingface dataset:
Evening star., 1932-02-09
CURB ISSUES MOVE
IN NARROW RANGE
Midday Rally Fails to Hold
and DoWntrend Is
Resumed.
BY JOHN A. CRONE.

Special Dispatch to The Star
NEW YORK, February 9.-The Curb
Exchane opened quietly and lower to-
day, but trading picked up in the Sec
ond hour and brought with it rally
that lasted until midday, when prices
resumed their downward course.
Electric Bond g. Share managed to
time, only few trades being recorded
below that level Cities Service was
off a small faction, which also was
true of Middle West Utilities and
Standard Oil of Kentucky.
Pressure against public utilities, so
pronounced in Mondays session. was
lightened somewhat today. There was
less selling from Chicago and, unlike in
recent sessions, the insult group was
not offered so freely. The latter de-
velopment resulted from the fact that
Chicago operators generally came to
the conclusion that two investment
trusts associated with the insult group
would make public their report next
week and that Middle West Utilities
would not dispose of some of its eastern
interests, as repeatedly rumored the
last few days
insult Utility investments was up
slightly in the FIRST few hours. The
insult group was helped also by the an
nouncement of Ohio Electric Power Co
that it would buy 13 companies in ter
ritories adjacent to those now being
served. The companies to be acquired
are Columbus, Delaware & Marion Elec
trio, Mount Gilead Water, Light &
Heat: Morrow Public Service. New
London Power. General Utilities, Ohio
Northern Public Service, City Water
Co. Buckeye Public Service, Asheville
Light & Power, West Jefferson Power
e. Light. Central Utilities Service. Re-
serve Power & Light and Western Re-
serve Power & Light
Ohio Electric Power Co. is a subsid-
iary of National Electric Power Co.,
which is controlled by Middle West
Utilities
The weakest spot in public utility
preferred stocks, which generally were
inactive. was Puget Sound preferred
off about 10 points.
Despite recent curtailment of oil pro-
duction, some of the petroleum con-
Germs softened. Standard Oil of Ken
lucky was conspicuous on the down
side. Glen Alden Coal with decline
of 2 points was feature in that group.
The Curb Exchange resumed its
downward trend at the opening.
Although some of the market leaders,
such as Electric Bond g. Share at 10
and Niagara Hudson Power at 6l2,
we're unchanged, most of the active
stocks showed initial declines. Middle
West Utilities, at 37s, was of Is.
Standard Oil of Indiana lost a fraction
at 147s, but Cities Service, at SIS, ad-
vanced slightly.
A trif1ing loss caused Goldman Sachs
to touch a new low of 2l4 This was
true also of United Verde Extension,
which reached 3l2 Ford Motor OF
Canada was off 1s at II Is, but Ford
Motor Ltd. was unchanged. Glen AL
den Coal opened off Is at 1873, new
minimum. Standard Oil of Kentucky,
at 1876, was down IS. Cord Corpora
ton came out unchanged at 53s.
Evening star., 1932-02-09
POSITION OF SHORT INTEREST
IN STOCK MARKET is ANALYZED
Proportion of Uncovered Contracts Is
Greater Than Formerly Since Volume of
Trading Has Shown Sharp Reduction.

ties had to seriously consider whether
they would suspend trading, the short
interest was In the neighborhood of
400 900 shares, or about % per cent
greater than today. Subsequently. 1t
dropped sharply under the new regula-
tions limiting short sales. In less than
two weeks the total was reduced l.700,-
600 shares or 81 per cent. When the
low prices of stocks were reached about
the middle of october, the short inter-
est was then less than half the total
at the time the banking crisis developed
a month previous. Since then, however,
with frequently interruptions of mod
crate size. the short interest has shown
a disposition to increase The striking
feature now is its expansion during a
period of the greatest continued dull
ness chat Wall Street has witnessed in
years.
There have been no changes in the
New York Stock Exchange restrictions
on short selling for some weeks. Under
the regulations now in effect it is still
possible to sell stocks short, though the
narrownesS of the fluctuations and the
SmalElesS of the volume make this oper-
alton more difficult than when market
conditions are normal in character. 1t
Is believed that operations of this type
are being limited to certain few Specu-
lative stocks which lately have been
conspicuous for the size of their daily
decline. Nearly all of the January in
crease in the short interest occurred in
the second half of the month, or during
that period when the daily average
turnover was the smallest This is un-
derstOod to have been the situation
since the lSt of February
Attitude Of Congress.
The threatened flood of bills in Con-
gresS to curb short selling has not put
in an appearance. With the exception
OF measures introduced in the various
State Legislatures, the subject has had
limited attention this Winter from the
lawmakers of the country. They have
been engaged on more important and
more practical matters. Wall Street was
quite uneasy over the attitude of Con-
greSS on short selling three months ago
Lately word has reached the financial
district that this phase of stock-market
operations will not be exploited during
the present session.
Copyright, 1922
Evening star., 1932-02-09
STREET CARS LEAD
CITY TRANSPORTATION

The American Electric Railway As
sociation says that three out of every
four riders in city streets use public
transportation.
Electric rail cars and buses under
electric railway management carry 49,
900 riders daily, divided-cars, ST.
500,0 900, and busses. 2,500,000.
Rail cars remain the backbone of
Transportation in cities above $4,000
Most electric line abandonments have
been in small cities and rural sections.
Less than one-fifth of the rail line
abandoned in the United States since
1915 has been replaced by buSses or any
other public transportation.
Only three cities of more than $4,000
population are served exclusively by
buses.
Exclusive bus service has been found
satisfactory in various smaller cities.
Evening star., 1932-02-09
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATION

NEW YORK, February 9.-The fol-
lowing is summary of important cor
poration news prepared by the Stand
ard Statistics Co., Inc, New York, for
the Associated Press.
News Trend.
Although automobile production show
ed an increase for the week ended Feb
ruary 6, the rise was less than the
usual seasonal amount. Actual output,
according to Grams automotive reports,
totaled 3O,032 cars and trucks, which
compares with 28,950 units in the pre-
vious week and 50,005 units In the cor
responding week of last year. The in
crease was almost entirely due to
Chrysler which stepped up production
in all divisions.
The Companies.
American Bakeries class "A" share
earnings, year ended December rs, S2.27
American Telephone and Telegraph
reducing working time of long lines
employees to equivalent of five days per
week
Canadian Pacific Railway declared
3lH cents common dividend out of sur
plus reserve; future declarations to be
made semi-annually.
Peoples Gas Light & Coke 1881 COM
mon share earnings $10.96 VS.. $11.5l.
Ungerleider Financial Liquidating
value December 81, 1881, $34.31 a COM
mon share VS. $4092 December 81, $780,
American Woolen-Workers in three
mills take wage cut in lieu of longer
hours.
General Italian Edison Electric Corp
Eight per cent dividend declared for
1891 VS.. IL per cent in 1880.
November 30 S9,488 VS.. net income
S257,319 equal to $1.66 a common share.
New York, Chicago & st. Louis Rail-
way-Savings from 10 per cent wage
reduction about $1,000
Otis Steel-Operations around IS per
cent of capacity.
Skelly Oil-Operating Is Of its 81
refineries.
Snia viscosa-Six per cent dividend
declared for 1881; no disbursement
made IN 1881 for 1880.
Consolidated Gas of New York Sub
sidiary, Westchester Lighting, to reduce
electric rates in that part of Bronx
which it serves; will cut revenues by
SITE, 900 annually.
International Railway 1891 preferred
share earnings $40 VS.. $16.21.
Paramount -Publix Corporation-Takes
no action on quarterly common divi-
dend; paid Z1s per cent in stock De-
cember 81, 1881.
Penney q. c. Co.-January sales OF
IS per cent.
Republic Steel-Five sheet mills
started at Warren, Ohio.
San Joaquin Light g. Power-1931 net
income 80 OTIS 082 VS. S3O48555
Evening star., 1932-02-09
BANK STOCK YIELDS
SHOW LITTLE CHANGE

New York City bank stocks held
Steaoy curing the past week. as evil
Genced oy records compiled by Holt.
the 10 leading stocks as of FEBRUARY &
was S.09 per cent, compared with A
Yield OF 8.06 per cent on January an
and S.84 recorded on December III the
hlghest average yield reported last wear
Based upon the February s figures
the l6 issues now are selling at III
tlmes their known current earnings
unchanged for the week, and at 81
times known earnings on December II
the low for 1881. The current market
value OF the Is stocks is O.9o times
known book value, against O.s0 on jan
uary 80 and 065 on December II. ls3I
Evening star., 1932-02-09

sales off 35.7 per cent, excluding subsi-
diaries of "a per cent.
Solvay American Investment-Net
income, before Federal taxes, quarter
ended December 81, S330,137 VS.. $685.
1865
United States Hoffman Machinery
1881 deficit, $617,739 VS.. deficit, $751;
442.
Commonwealth Edison-1931 common
share earnings, 5000 VS.. $11.51.
Tampa Electric-1931 common share
earnings, $3.50 VS.. SITS.
Western Air Express-Passengers car
ried over Pacific Coast-Rocky Mount
divisions in January totaled 408 VS.. 337
in December and rs year previous.
United States Tobacco-l931 common
share earnings, $500 VS.. $3.50.
Evening star., 1932-02-09
CHICAGO STOCKS SHOW
DECREASE IN VALUE
,iaI Dispatch to The Star.

Special Dispatch to The Star.
CHICAGO, February 9.-Fifty repre-
sentative stocks listed on the Chicago
Stock Exchange at the cloA of business
for the week ended February 6 had a
of the preceding week, according to
compilauIon by Paul H. Davis & Co.
This represents q decrease of $51, 1884,
$50, or 58< per cent.
The analysis shows further that at
the close of the corresponding week a
year ago the same so stocks had a mar
ket value of S2,282,352,156 indicating a
decrease during the year of $1,458,557,-
487, or 63.91 per cent
Evening star., 1932-02-09
IMPORTED FUEL OIL
TAX PLAN WINS FAVOR
BY the Associated Press.

BY the Associated Press.
A poll of the House Ways and Means
Committee indicates a majority favors
tax of cents a gallon on imported
fuel oil. Whether the proposal for a
tax of "a cents barrel will finally
prevail against the original plan for a
81 tariff is not yet certain, although
present indications are it will
The administration has gone on rec
ord in favor of an oil tariff, provided
"a fully systematic proration and con-
servation program can be developed
within the States This was done
through letter to Ray Lyman Wilbur,
Secretary of the Interior, to Senator
Hiram johnson, Republican, California,
who had asked for views. The letter
said a tariff on oil might start a legis-
lative program to bring order to the
oil industry. Such tariff. the letter
said, must adequately protect con-
sumers and American export and
bunker trade and should be paralleled
by State legislation providing for CO.
ordination in proration and conserva-
ton. It also said the States should be
given permission to effect such CO.
ordination through interstate compacts.
Evening star., 1932-02-09
Rail Shipments Urged.

NEW YORK, February R.-r
the larger shippers and manufacturers
of such commodities as automobiles,
tires and accessories, soap, food prod
ucts, live stock, building materials. iron
and steel would ship all their finished
products and raw materials by rail for
period of one year, the turn Of the
business depression and unemployment
crisis would not be far distant Patrick
H. Joyce, president of the Chicago
Great Western Railroad, declared in q
statement today.
Evening star., 1932-02-09
POTATO MARKET.

CHICAGO, February (P) Omitted
States Department of Agriculture) =
Potatoes, 81 cars: on track, 235; total
United States shipments, 686; dull;
trading slow; Wisconsin round whites
No. /, mostly 80; few IS; unclassified,
7212: Idaho Russets No. l, 1.35al AS;
occasional fancy car, shade higher;
commercial, 105a1.l0; Nebraska Tri-
umphs, 1.l5a1.20.
Evening star., 1932-02-09
New York Cotton

Special Dispatch to The Star.
Opening cotton prices today were un-
changed to 7 points lower. Trading
was fairly active. Trade buyers alb
sorbed offerings in March and May, but
liquidation overbalanced a somewhat
thin foreign demand in distant months.
Opening prices were: March $50,
unchanged; May 679, unchanged; July
6.94, off 2; October tbs, of 3; Decem-
Der 7.29, of 4, and January 7.34, of Z.
Evening star., 1932-02-09
NORFOLK & WESTERN.

PHILADELPHIA. February 9 (P.-
The Norfolk & Western Railroad Co.
today declared the usual quarterly divi-
dend of $3.50 a share on the common
stock. 1t is payable March 19 to stock
holders of record February %.
Evening star., 1932-02-09
Visible Grain Supply.

NEW YORK, February CP).-The
visible supply of American grain
shows the following changes in bushels:
Wheat decreased 452,000, corn in
creased 1876, 900, oats increased 100000,
rye decreased 5000, barley decreased
10000.
Evening star., 1932-02-09

Dividend in dollars
nqsl payment .Ex dividend tPsrty
Dividend DIP Phys 81 IN stock Plus 81 stock Plus Il
stock Plus 80 in stock Paid last
Evening star., 1932-02-09

The Junior Athenaeum, In Piccadilly.
and the Beaufort, in Soho Square, two
prominent London clubs, have quit
because Of lack Of support
Evening star., 1932-05-08

The Ambassador of Turkey, Mr.
Ahmet MuiltaI, is expected to return
ID Wach,ngton tomorrow. He has been
n New York for several days.
The Amba -sador of Japan and Nine
Debuchi will entertain at dinner Tues
day evening at the embassy.
Lady Lindsay, wife of the Ambas-
Sador of Great Britain, will entertain
Saturday afternoon at the embassy the
Queen Elizabeth Chapter of the Daugh-
ters of the British Empire, of which she
is president.
The Ambassador Of Belgium and
Nine. May will entertain at a small
dance at the embassy Saturday.
The Arlbacsador of Brazil and
Cenhora de Lima Silva viii be hosts
at dinner Wednesday at the embassy.
The Minister of Portugal and Vis-
countess d'Alte are at the legation after
stay in New York. The Minister and
viscountess d'Alte plan to spend part
OF the Summer &C Bxr Harbor.
Evening star., 1932-05-08
Ambassador of Turkey
To Return Tomorrow
Ambassador of japan and Nine. Debuchi to
Entertain at Dinner Tuesday
Evening at Embassy

The Minister of Hungary, Count
L-szlo Szechenyi, and his family are
expected to spend part of the Summer
at Newport Countess Szechenyi is
visiting her son-in-law and daughter,
Count and Countess Hadik, in Hungary,
and will join the Minister in this coun-
try later.
The Minister of Sweden and Nine.
Bostrom will receive the members of
the Swedish colony in Washington this
afternoon, from 4 until 6 o'clock, at
the legation.
The Minister of Czechoslovakia and
Nine Ververka will be hosts at lunch
con tomorrow at the legation,
The Minister of Canada, the Hon.
William Ducan Herr.dge, is expected
back in the Capital tomorrow. He has
been in Ottawa with Mrs. Herridge and
their infant son for about 10 days.
The Minister of Egypt, Sesostris ST.
darous Pasha, entertained at luncheon
yesterday In celebration OF the Moham-
CONTINUED on Page 2 Column ID
Evening star., 1932-05-08
In St. Thomas Parish Hall
Sponsors for Play Given

Sponsors for The Kettledrum," a
play to be given by the young people
Of st, Thcm7s' Epi-ccpal Church Fri
dey evening, icy 20, at o'cl9ck, in
the pcr.e1 rcr a. Eighteen aid
Church st-cc+S nor,h"e-t. are Mrs.
Charles McV2y, fIrs. H. H Rou se2u,
Mrs. Cary T. Crayson, Mrs. Necdhsm
L. Jones. Mrs Kcssuth Mile, Mrs. B-n
HELEN, Mrs Melville Church, Mrs. B.
L. Hardin, Mrs. J. p Fillebrown, Mrs.
H. M Claybaugh and Mrs. Franklin
Harris. The play promises to be great
success and is being looked forward to
with much pleasure
Evening star., 1932-05-08
Capital Society Turns
Attention to Gardens
With Advent OF Spring
First Lady Taking Active Interest in Beauti6ca.
ton of Grounds at Rapidan
Camp.
.Bachrach PoSos.

Society has turned its attention to
gardens, and each week for some time
TO come will be filed with garden
parties, tours to historic gardens, and
garden contests. The opening of the
Georgetown gardens was about the first
OF this long series of al fresco fes-
tivities and has been closely followed
by Virginia, Chevy Chase and the
scores of benefits given in gardens
This week gardens in Fairfax County
will be opened and the end Of the
week is set for the annual pilgrim
age to the historic homes in Alex
andria
The four days Of the National Capt.
tai Horse Show this week, following
the one day of the juvenile horse show
yesterday, will bring the out-of doors
into its own again
Mrs. Hoover has taken an active in
terest in the arrangement and plant
ing OF the garden at the presidential
camp on the Rapidan, as she has in
the beauties of the grounds about the
White House. Many other First Ladies
OF the Land have left the mark of
their affection for a garden in the
grounds OF the Executive Mansiona
Mrs. Roosevelt planned the water gar
den and the first Mrs. Wilson arranged
the garden of old-fashicned flowers
Many annual conventions of wom-
ems nationel organizations have met
in Washington this Spring and each
has brought With it food of fes-
tivities formal and informal. The
Colonial Danes of America played a
conspicuous part of the social affairs
OF the past week. Yesterday Mrs. Nc
Cormick-Goodhart entertained them at
tea In her beautiful home, Langley
Park, near Riverdale, Md. The place
Is patterned after the English home
OF ease and comfort and is filed with
furnishings of historic and ANTIQUE in
terest. Mrs. Hoover entertained the
Colonial Danes Of America at tea
wednesday and there were many other
ce-ghtfm parties 2 aimed for them
V,a5hinst0n so-i2ty VIII have a deep
i est in the FIST c. tie B~-d h courts
tbs season VII h WI be he!d Wsd-
nesday. The new United States Am
bacsa@or to the Court OF S.. James, Mr..
Andrew w. Mellon, will be present and
his daughter, Mrs David K. E. Bruce
OF New Yorw, will be among those who
will make their bow. Mrs. Bruce, who
formerly was Miss Ailsa Mellon and
her fathers hostess here before her
marriage, will act as his hostess in
London. Others who will make their
bows to King George and Queen Mary
viii be Mrs. David E. Finley, wife of
the secretary to the Ambassador. who
formerly was Miss Margaret Eustis.
daughter of Mrs. Corcoran EustiJ
OF Washington. Mr.. and Mrs Finley
were married last Summer and spen.
their wedding trip abroad. Mr.. Finley
served as special assistant to the Secre-
tary Of the Treasury when Mr.. Mellon
held that Office. Mrs. Parker, wife of
Lieut.. Col. Courtlandt Parker, U. s. A..
military attache OF the embassy. also
win be presented Wednesday. The AM
AAssador has asked Nine de Fleuriau.
Evening star., 1932-05-08
French Diplomats Observe
Mourning for Doume,

The Ambassador o. France and Nine
Claud-l have Cancelled all social en-
g2gements bccaue Of the trcgic death
Of President Pcul Doumcr Of F.avce.
Nine. ClcuIcl VII go to New York
the latter r-rt Of the week Pr paratory
to sailing Saturday on the Paris to
spend the Summer abroad. The Am
bassador expects to accompany Nine
Claudel to New York to see her sail.
Evening star., 1932-05-08

wife Of the French Ambassador at Lon
don, to make these presentations for
him, his daughter not being able to act
in this capacity until after he- own
presentation.
Many distinguished women came to
Washington last week to attend the
meeting of the Women's Committee for
the National Cathedral. and to attend
the Ascension day service in the Ca
thedral itself which served to dedicate
the great choir and sanctuary. The
members of this committee were re-
ceived by MIS- Hoover, who is herself
an honorary chairman of the COM
mittee, through being member Of the
Society of Friends rather than a COM
municant Of the Episcopal Church. 1t
was an inspiring occasion. the first
service IN the great Cathedral. for so
many years a dream only, and then
dimly growing into chs2els. and now
taking such substantial form as is seen
today.
Evening star., 1932-05-08
Miss Elvira Johnson
And Mr.. C. B. Elbrick
Of Kentucky to Marry
Miss Mildred Smith S En-
gagement Announced at
Informal Supper.

CaCt. Alfred w. johnson, U. s. N,
and MRS. Jc1ncon announce the en-
gcgerent Ct their daughter. e. ira
L.ndosy, to Nj. Ch2rl-s Eurke Eibcic,;
Of Louisville, Ky.
Miss johnson made her debut in
Washington two years ago and is a
member Of the Junior League. She at
tended the Misses Eastman and Miss
Madeira's School here.
Mr.. Elbrick is the son of Mr.. and
Mrs. c. j. Elbrick of Louisville, KY. He
was graduated from Williams College in
the class of 1929 and now is in the
American foreign service. For the
past year he has been stationed in Pan
ANA City as vice consul.
Mr.. Elbrick is a member of the Pen
denis Club of Louisville and Williams
Club of New York City.
Mr. and Mrs. John w. Chi}dress an
roInce the engagement CT their daugh-
ter Charlotte to Mr.. Gray Southerland
OoNCAy EOll Va wi dll4 MID. GuRHIc
Gray Foster of $50 Park avenue, New
York City The wedding will take place
Saturday afternoon, at 4:So o'clock. in
the home of the brides parents on
Twentieth street and only members of
the two families will witness the cere-
mony and remain for an informal re-
ception.
Miss Childress, who is one Of the
most popular members of the younger
circles of resident society, will be at
tended by her sister, Mrs. Francis Mead
Thompkin9, formerly Miss Adair Chill
dress, and Mr.. Glen Varick Foster of
New York VII be best man for his
brother.
Mr.. Foster and his bride will make
their home near Nashville, Tenn,
where they have taken a house on the
Dickerson pike.
Mr.. and Mrs David Blackwell Smith
CONTINUED on Page 2, Column %