davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1933-08-15
COTTON LOWER
AFTERF|RM
OPENING

NEW YORK, Aug. IS U.N.SD.
Cotton futures failed to hold
early gains of SO cents a bale
today and at midday were slightly
under previous closing levels.
The market displayed a steady
tone at the opening for the first
time since the Government re-
port was issued week ago.
Offerings Are Light
The better tone was caused
rather by the lack of any i'm
portant selling than by aggres-
sive buying. Routine price fix
ing orders from the doEpestic and
foreign trade furnished the chief
source of support with Wall
Street and commission houses
purchasing distant months in a
small way.
The South, New Orleans and
spot houses were scattered SELL
erS.
The Fossick Bureau of Mem
phis reports that the crop in
most of Arkansas and east of
the Mississippi River is good.
Western portions of Texas and
Oklahoma still need rain badly.
Eastern Texas and Louisiana can
hardly recover from the damag-
ing effects of excessive rains.
Little Weevil Damage
The plant, except in the Far
West, made good growth and is
reported fruiting satisfactorily.
Weevils do not appear to be do
ing much damage.
Midday prices were off 3 to 4
points with october off 3, at
GOT; December, off 4, at 9.27;
March, off 4, at 9.47, and May,
off 3, at $50.
The Washington times., 1933-08-15
GAS
SALES CLIMB

BALTIMORE, Aug. 15.-Indus-
trial sales of electricity by Con-
solidated Gas Electric Light &
Power Co., of Baltimore, exclu-
sive of power supplied to Bethle-
hem Steel Corporation and Balti-
more Copper Smelling & Rolling
Co., totaled 34,389,976 XVIII. in
July, compared with 3O.177817
XVIII. in July, 1882, an increase
of 1896 per cent.
Industrial sales of power for
the first seven months of 1888
were 11,424,702 XVIII, compared
with 224,749, ,766 XVIII. in the first
seven months of preceding year.
Sales of gas for industrial and
commercial purposes during July
increased 1853 per cent to 1885,
483, 100 cubic feet from 164,921,-
800 cubic feet in like month Of
1882.
Such sales amounted to 1904
483, 400 cubic feet in the first
seven months of this year against
,566,842,500 cubic feet in the
corresponding period of last year.
The Washington times., 1933-08-15
BIC GAIN SHOWN
IN COTTON USE.

The Census Bureau today issued
the following report showing the
number of bales Of cotton con-
sumed, on hand, imported and ex-
ported, and active cotton spindles
during July, 1888 and 1882, re-
spectively:
Cotton, Exclusive Of Linters
Consumed during July, total
600,143 and 278,56S bales.
In cotton-growing States, 483,-
23O and 239, 9,069 bales.
Held in consuming establish
ments, July 81, 1,35l,033 and
1,217,8 1886 bales.
Held in public storage and at
congresses, 5,739,10O and $780,
868 bales.
Imported, 11,941 and 8,264 bales.
Exported, 692,O07 and 449,476
values.
Linters Statistics
Consumed during July, 90,497
and 1896 bales.
Held in consuming establish
ments. 321,694 and SOL ,299 bales.
Held in public storage and at
congresses, 31,731 and 54,082.
Exported, 1885 and 9,169 bales.
Spindles-Active during July
numbered 26,069,15 and 19,75S,-
252, respectively.
The Washington times., 1933-08-15
CHICAGO GRAINS
QUIET, RISE At
WINNIPEG

CHICAGO, Aug. IS G.N.S).
Grains remained at a standstill
here early while the Winnipeg
market was soaring on the deci-
sion to "peg" prices.
Wheat opened about 4 cents
higher at Winnipeg as buying
orders poured into the market
by those who had hedged against
long lines here.
Few Trades in Chicago
Directors of the Canadian ex-
change voted to 'peg" prices at
yesterdays closing levels until
equilibrium was restored on the
local exchange and the market
opened a half-hour later than
usual.
Except for a few scattered
trades here at the opening, the
market was quiet.
Near mid-session wheat at Win.
nipeg was 114 to 21sc advanced.
Liverpool was y to Fad higher.
The Winnipeg market has had
to absorb considerable hedging
ever since prices here dropped to
the minimum levels on Saturday
and the depressing effect on prices
is believed to have been the prin-
cipal reason for establishing mini
mum levels there.
New Measure Drastic
1t was also decided that eleva-
tor companies and those handling
cash grain marketed by farmers
will refrain from hedging for the
time being.
This was reported as one Of the
most drastic m asures ever
adopted in the Canadian market.
Estimated carlot receipts here
were: wheat 25, corn II, and
oats As.
The Washington times., 1933-08-15
Closing at London
Is Quiet and Mixed

LONDON, Aug. Is G.NSO.-
Stocks closed quiet and regular
on the London Stock Exchange
today.
Transatlantic shares recovered,
and industrials were irregular.
Rails were weak and oils quiet.
British funds rallied and Ger
man loans were dull.
Spot silver, at 17A pence an
ounce, was down lilo. Forward
was unchanged at 17B. The con-
tinued decline in silver during
the past few days was attributed
to the covering Of SPECTATORS
since the anticipated information
al support Of the metal failed to
materialize.
The Washington times., 1933-08-15
A|MLESS DRIFT
. CONTINUES
On CURB

NEW YORK, Aug. is GN.S0.
The curb market continued to
drift in rather aimless fashion
today with gains in a scattering
Of issues exerting little effect
upon the main body Of stocks.
Wet Shares Higher
A few of the alcohol issues con-
tinued to move higher, with
Schenley again aggressively
bought and reaching a new top
on the recovery.
A select list of Specialties did
better. Utilities churned around
nstlessly within a small fraction
Of previous closings. Oils were
irregular.
Cities Service Steady
Pennroad ran into offerings in
. the investment trust list. The
Cities Service issues were un-
changed.
Baldwin Locomotive IS stood
out in the bond division.
The Washington times., 1933-08-15
WEAK RAIL LIST
UNSETTL|NC
To BONDS

NEW YORK, Aug. IS G.N.S0
Renewed pressure on speculative
rail liens continued to unSettle
sentiment toward other senior
obligations in today's bond deal
ings, although a fairly steady un-
dertone was prevalent in the bet
ter grade list.
Western Pacific Weak
Western Pacific IS was again
outstandingly weak in the carrier
division, dropping points to 321a.
Losses up to a point were Sus-
tanned in the Northwestern 424s;
Rock Island refunding is, Balti-
more and Ohio 4las, Illinois Cen
tral 434s, Great Northern Is, New
York Central 5s, and Wabash SIS.
Weakness in sterling exchange,
upset the United Kingdom 5l2s
which sold off IA points to 1872.
Other foreign loans were dull,
with the German Agricultural
Bank IS of July, 80 off l at Al.
u. S. Governments were mixed,
with losses of 2-32 of g. point 5us-
tanned in the Liberty 312s and
Treasury IS.
Utilities Higher
High-g1ade utilities were slightly
higher, with gains noted in the
American Telephone 5as and
Consolidated Gas 51as.
U. S. Rubber SIS of AT was a
weak spot in the domestic list,
sagging IA points to 65A.
The Washington times., 1933-08-15
PGrLey to Discuss
Bank AdUertiSin0

NEW YORK, Aug. 15.-Broader
and more Informative use of
newspaper space as part of the
development of better all-around
public-relationS policy for banks
and investment houses will come
up for discussion at the national
public relations conference to be
held under the auspices of the
Financial Advertisers Association
at the Waldorf-AStoria Hotel Sep
tember IL to IA.
Among the speakers will be Gov.
Herbert H. Lehman; Francis H.
Sisson, president, American Bank
ers' Association, and Henry
Bruere, president Bowery Savings
Bank,
The Washington times., 1933-08-15
Anniversary Observed
By Washington Trust

Officials of the Washington
Loan and Trust Company today
are observing the institutions
forty-fourth anniversary, under
the leadership of John Joy Ed
son, chairman of the board and
one of the founders. Among
congratulatory messages was one
from Harry G. Meem, president,
vacationing at Atlantic City.
The first officers of the COM
pany were Brainard H. Warner,
president; John Joy Edison, vice
president; w. B. Robson, secre-
tary; William B. Gurley, treas
urer, and John B. Larner, general
counsel. The company began
business under a West Virginia
charter at 1901 F st N. W., but
later, when Congress made pro-
vision for it, was incorporated in
the District.
The company completed "a TO-
story building at Ninth and F
SITS. N. w. in 1891, but greatly
enlarged this in 1912 and again
in 1927. A branch was estab-
lished at Seventeenth and G SITS.
N. w. in 1917 and handsome
building built for it in 1924. The
company long has been a mem
Der of the District of Columbia
and American Bankers aSsocia-
tions and of the District Clearing
House Association, and last May
Joined the Federal Reserve sys-
tenn.
On the last call of the Comp
troller of Currency, as of June
80, the Washington Loan and
The Washington times., 1933-08-15
Nice Newslets
On Business

Melville shoe sales rise in
August -. Chesapeake and
Ohio loadingS last week S5.6
per cent ahead Of year ago
Commercial Credit Com
pany purchase volume In
July 80 per cent above year
ago ). Reading Company
ends compulsory furlOughs
Pet Milk net $543,277,
against $A7,682 loss in 1882
June quarter. June best
month for contracts in his
tory of National Broadcast
ing Company -. Pepperell
net for year to June 80 Is
S924,OOO, comparing with
S1,199,55S loss in previous
fiscal period. General Mo-
tors exports up 1876 per cent
in July.
The Washington times., 1933-08-15
Exports OfG-M
Autos Soar

Export shipments Of cars
and trucks from General
Motors plants in the United
States and Canada during
July were 1876 per cent
greater than in July last
year, according to a state.
ment issued by the corpora
ti0n today.
Despite a lag under 1892
in the early months of the
year, the progress made
since March has been so
rapid that a cumulative ex-
cess of SO per cent over 1882
is in evidence in this re-
gard for the first seven
months Of the year.
The Washington times., 1933-08-15
CHRoMITE OUTPUT LOW

The United States Bureau of
Mines estimates that 200 long
tons of chromite were mined in
the United States in 1882, and
155 tons shipped, compared with
1852 tons mined and 268 tons ship
ped in 1881. The sharp decline
reflected the low level of indus
trial activity, especially in the
steel and automobile industries.
The supply available for con-
sumption was So per cent below
that in 1881, 73 per cent below
the peak in 1890, and the lowest
since 1921.
The Washington times., 1933-08-15
Listed Stock Values
Turn I'm in Week

The market value of so repre-
sentative stocks listed on the New
York Stock Exchange at the close
of business August II was $13,642,-
22O,250, an increase of $583, ,288,-
1875. or 4.47 per cent, as compared
with $13,058,932,125 at the close
of the preceding week, according
to Paul H. Davis & Co. Twenty
five representative stocks listed
on the Chicago stock exchange
had market value of 2,799,-
Gil, an increase of $17,566,325, or
3.O5 per cent, as compared with
$575, ,233,286 at the close of the
previous week.
The Washington times., 1933-08-15
Investment Trusts
Set HiQher Average

The average for the common
stocks of five leading manage
ment trusts influenced by the
leverage factor, as compiled by
Allied Distributors Inc, stood at
1888 as of August II, compared
with 1858 on August 4, an ad-
vance of 6.3 per cent. The low
for the current year to date was
S.22 on March 81.
The average of the non-lever-
age stocks stood at 1900 as of
the close August II, compared
with 1875 at the close on August
4. The average of the mutual
funds closed at 1125, compared
with 1919 on August 4.
The Washington times., 1933-08-15
NelU York City Bank
Stocks Rise in Week

The aggregate value of Is lead
ing New York bank stocks, as COM
piled by Holt, Rose and Troster,
ended the week at 1869 900 900,
compared with $1,542,446,00O at
the close of the previous week, an
increase of $26,614,000, or 1.72 per
cent. The average yield of the 16
stocks is now 499 per cent, COM
pared with sos per cent on Au-
gust 4. The current market value
is 1.2O times known book value.
against 1.18 on August 4. The 16
stocks are quoted at an average
of lis times their known earn
ings. against 11.3 on August 4.
The Washington times., 1933-08-15
World ClIrrencieS
GENERALLY Stable

The Alexander Hamilton InSti-
tute, in its current bulletin, calls
attention to the comparative
stability of practically all of the
important currencieS, except the
dollar, both in relation to gold
and to each other.
The fluctuations of the dollar
in terms of other currencieS, says
the institute, have tended to OBJ
scure the absence of fluctuation
in the rates of exchange between
these other currencies themselves.
The fact is that the chaotic for
eign exchange situation often
predicted as a consequence of the
general abandonment of the gold
standard has not materialiZed.
The Washington times., 1933-08-15
Deposit Velocity
HeLpinq Business

June was the first month since
the fall of 1929 when the velocity
of bank deposits showed an in
crease over the corresponding
month of the previous year, &C
cording to the Alexander Hamil'
ton Institutes current weekly
bulletin.
The New York Federal Reserve
Banks index for outside cities
stood at 78 compared with 76 for
June, 1882. The index Of velocity
for New York city was 81 com
pared with 81 last year.
The index for June, 1888, in
addition to exceeding that for the
corresponding month last year, is
eight points above last December
The Washington times., 1933-08-15
RAIL RECORD SET

The all.time record for hand.
ling passengers on the Baltimore
& Ohio Railroad was established
August IL when a section of the
Capitol Limited, consisting of 10
air-conditioned sleepers, arrived
in Chicago with 257 passengers
according to the company's gen
eral eastern passenger agent
Howard E. Simpson.
The Washington times., 1933-08-15
BANKS PAYING UP

Payments to depositors and
creditors of 81 closed State
chartered institutions in New
York to date approximate 68
per cent of total liabilities, the
sum of $2OS,682,657 having been
made available by the superin-
tendents of banks, out of $305,.
638,946 of liabilities at the time
of closing of these banks and
trust companies.
The Washington times., 1933-08-15
Spot Cotton Trade
Quiet at Liverpool

LIVERPOOL, Aug. Is G.N,S0. E.
Spot cotton was quiet and easier
at the opening today. Receipts
totaled 5000 bales, including
5000 American bales.
At midday middling fair was
quoted at Std; strictly good
middling, 632d; good middling,
602d; strictly middling, 5.72d;
middling, 5.57d; strictly low mid
ding, SAID: low middling, 5.22d;
strictly good ordinary, 5.02d; and
good ordinary, 4.72d.
Futures opened steady with
october at 5.30d; March, 5.40d,
and May, sad.
The Washington times., 1933-08-15
Quarter Loss Scars
For AUeghQny Corp.

NEW YORK, Aug. IS Q.N.S0.
A net loss of $359,086 for the
second quarter of 1888 was re-
ported today by the Allegheny
Corp, Van Sweringen Railroad
holding company.
This was exclusive Of $1,041
profit on sale of securities which
was credited to surplus account
and compared with a net loss Of
$13,695 in the like 1882 quarter,
which excluded profit of $500 on
security sales.
The Washington times., 1933-08-15
FLOUR TRADE DULL

Flour prices and trade in the
week ended August IL failed to
respond to the bullish crop report,
although prices remained un-
changed except for fancy family
patent which declined S cents.
The volume of sales was poor as
were the average shipping instruc-
tons.
The Washington times., 1933-08-15
FERTILIZER INDEX OFF

Wholesale commodity prices
again declined during last week,
according to the index of the Ma
tional Fertilizer Association. Dur
ing the week ended August IL
this index declined Z points from
67,2 to 66.5,
The Washington times., 1933-08-15
NeW Life Insurance
Writings improved

New life insurance production
during July was 81 per cent less
than during the like month of
1882. This is the smallest per-
centage decline for any previous
month of this year, contrasting
with corresponding percentage de-
creases ranging from 34.9 per cent
in January to 10.5 per cent in
June.
For the first seven months of
1888, new production of life insur-
ance was 21.3 per cent below the
like 1882 period, according to fig
ureS of the Association of Life
Insurance Presidents
The Washington times., 1933-08-15
Armour Company
Plan Fucinq FiQht

NEW YORK, Aug. Is G.NSO.
Opposition to the reorganization
plan of Armour & Company Of
Illinois crystallized today with the
formation of a stockholders COM
mittee headed by Charles F. Tut
tie and including Frederick J.
Brooks, Harry E. Wasserthal and
Stephen M, Dryfoos. i"
The Washington times., 1933-08-15
Spencer, Kellogg
Dividend Boosted

NEW YORK, Aug. Is G.N.s0.
Spencer, Kellogg & Sons today
raised quarterly dividend pay
ments on common stock to Is
cents share, payable September
80 to stock of record Septem.
ber Is.
Three and six months ago divi-
dends Of IS cents were paid.
The Washington times., 1933-08-15
U. S. BUILDING OFF

Building permits, including new
work and alterations, for 215 cities
in the United States during July
amounted to $29,484,891, as COM
pared with $34,O98, 1874 in June and
$27, 7,15O,469 in July, 1882, accord
ing to Dun & Bradstreet, Inc.
The Washington times., 1933-08-15
LOSS TO CHEMICAL FIRM

Virginia Carolina Chemical
Corporation and subsidiaries for
the year to June 30 report a net
loss of $762,828 after deprecia-
ton, provision for losses on i'm.
pounded bank accounts and Fed
eral stock tax. as against a net
loss of $783,509 in previous fiscal
year.
The Washington times., 1933-08-15
SUGAR MELT HIGHER

Sugar melt Of 13 United States
refiners from January to August
5 totaled 2,405 900 long tons, COM
pairing VA. 2.335,000 long tons in
the like 1882 period. Deliveries
amounted to 2,180,000 long tons,
as against 100000 long tons
year ago
The Washington times., 1933-08-15
MELVILLE SALES RISE

Sales of Melville Shoe Corpora
ton for the four weeks to August
S amounted to $1.242,72s, as
against $1,165,O30 in the like
weeks last year. Sales for the
80 weeks to August 5 amounted to
$11,545,535. against $13,017 ,473 in
the corresponding period a year
ago
The Washington times., 1933-08-15
LIQUID CARB0NlC IN RED

Liquid Carbonic Corporation
reports net loss of $5O8,735 in
the IL months ended June 80,
contrasted with profit of $533,921
in the previous period.
The Washington times., 1933-08-15
OPEN NORFOLK OFFICE

Charles D. Barney & Co. an
nounce the opening of an office
in Norfolk, Va, under the man.
agement of j. Burks Withers.
The Washington times., 1933-08-15

Time Is valuable! Save 1t when shops
ping for apartments by FIRST consult
ing the Rental Columns Of the WANT
AID SECTION Of this newspaper.
Evening star., 1933-10-29
Sales Tax Contest
Rene,U0I in Maine
Regarded Certain
January Session to Raise
additional Rerenue, No
Other Source Open.
BY SAM E. CONNER.

Special Dispatch to The Star.
AUGUSTA, Me, October 28.-A sales
tax battle looms ahead of the Maine
Legislature when it meets in special
session, probably early in January.
This was one of the big bones of con-
tention at the regular session last Win
ter. The proposition had the backing
of the State Grange and several other
organizations. but business associations
of the State fought it and finally
scored knockout.
Financial conditions. due to the fail
ure of the votes to indorse a $4,000, 900
welfare bond issue at the special elec-
ton of September IL, make it certain
that a new source of revenue must be
provided A sales tax, in the opinion
of many Is the one available source
as yet untapped.
That the effort to pass such a meas
ure will meet with stiff opposition is
indicated by the fact that retail mer-
chants already have begun a campaign
against it.
Brann Stand in Doubt.
Gov. Brann has given no indication
of his position in the matter. He is
not expected to. at least not until he
addresses the Legislature on its OPEN
ing day. In signifying his intent to
call the Legislature into special ses-
sion. the Governor said that one of
the reasons was the necessity of pro-
viding further revenue, but he gave
no intimation of how he thought this
should be accomplished.
Evening star., 1933-10-29
DeIa,care Assembly
Must Pass Tax La,U
ToPayN.R.A.Loans
Governor Intends to
Force Business-like and
Speedy Action.
BY C. E. GRAY.
Special Dispatch to The Star.

special DiSpatcH 10 Inc star.
WILMINGTON, Del, October pa
program of additional taxation which
will enable Delaware to repay any N R.
A. loans or State bonds issues involved
in the public works program must be
drafted by the General Assembly be-
fore it launches into its borrowing and
spending program Gov. G. Douglass
Buck warned the legislators this week.
The Chief Executive told the assembly
now in special session to consider pub
lie works projects that new revenues of
S73, 1888 must be unearthed to meet
annual carrying charges alone on each
81 100000 borrowed
The Governors warning Is seen con-
firming the hint given in his opening
message to the special session that he
intends to force the assembly to busi-
ness-like and speedy action resorTlng
to his power to adjourn the session II
the legislators show any inclination to
delay or admit partisan consideration.
The legislators have been told that
the S23,000,00o building program out
lined by the Governors special survey
board can be undertaken as a whole by
the State with a total borrowing of less
than Sl,700,000 The largest share of
the total or S11,000,000 would be pro-
jects to be paid for entirely by the
Federal Government. Still more are
municipal or private undertakings which
would be without necessity of the State S
guarantee. Since the Governor has set
S2,5000G0 as the total to which he
wishes the assembly to confine the
States approval, an effort to approve
the major portion program Is expected.
Evening star., 1933-10-29
WINANT MAY CALL
SPECIAL SESSION
New Hampshire Legislature May
Be Given Liquor and Relief
Problems for Action.
Special Dispatch to The Star.

Special Dispatch to The star.
MANCHESTER, N. H., October 28.-
Gov. John G. Winant is giving serious
consideration to calling a special SeS-
sion of the Legislature for action on
several emergency measures. 1t Is un-
derStoOd that liquor legislation and en-
actment of additional statutes to facili-
tate application of Federal emergency
relief will be taken up at the session.
State relief for three months, ending
October /, amounted to $425, ,188, ac-
cording to Miss Eunice M. Patch, State
director of relief. The cost of admins
tering welfare work for the three
months amounted to $35, ,109.35. There
are 80 supervisors and investigators, the
former receiving 81 800 year, and the
investigators, 81 500.
Manchester holds its city election
November Z, with DR.. Danes Caron,
Democrat, seeking reelection. with Mai.
John jacobson, jr, Republican, oppoS-
ing him. Mayor Caron seems to have
the necessary strength tc win, although
Maj. Jacobson is expected to make a
better fight than other Republicans in
pas campaigns.
Former United States Senator George
Higgins Moses, just returned from Eu-
rope, is at his home in Concord. Mrs.
Moses is seriously i'll. There are ru-
mors that the former Senator will be q
candidate for Congress next year, and
that Gov. John G. Winant may become
chairman of the Republican National
Committee when he retires as Governor.
Robert Jackson is reported as the big
temoeratlt PATRONAGE man 10Y New
Hampshire. which brings Senator Fred
H. Brown into the picture as one of the
several New Hampshire Democrats pro-
testing against the manner In which
patronage Is being handled.
Evening star., 1933-10-29
Cotton Mill Strikes Retard
Recovery in South Caro-
lima Industry.
BY FITZ HUGH McMASTER.

Special Dispatch to The Star.
COLUMBIA, S. c., October 28.-
Strikes in the cotton mills in the Horse
Creek Valley section of South Carolina
that section which runs east from
Augusta, Ga, for about 20 miles-have
been the disturbing factors, and the
only ones, in the State. ~
These strikes have not been due to
any causes coming out of Federal legis-
lation, unless cotton mill employees have
felt that the managements have not
fully complied with Federal legislation.
For 40 years there have been constant
troubles in this section. In newspaper
circles the feeling has been that these
troubles have been due to labor agita-
toTS' The impression 0R the public mind
has been unfavorable to the cotton mill
employees.
It is only in this section that the
labor unions have had any influence
with cotton mill employees.