davidaulloa/AmericanStories huggingface dataset:
Evening star., 1933-07-21

the situation over, but the shouting
and gesticulating was absent. Most of
them were glad of the holiday The
tense worried expressions of yesterday
gave away to smiles and jokes and
the enforced holiday was taken as
good medicine for the speculative
fever which had infected the pits
practically all the time since the lift
ing of the national bank holiday.
The Winnipeg market was open as
usual as was Liverpool, and the chief
activity of those who talked shop"
was in watching ticker quotations from
these market centers.
Three Cents Gain at Winnipeg.
Big blackboards that usually show
from minute to minute the f1uctua-
tions in grain prices here and through
out the world were mostly blank to-
day. Interest was shown chiefly in
returns from Winnipeg. recording an
advance of about 3 cents a bushel in
wheat values as compared with yes
terday's finish
Representative comment from leading
Chicago wheat specialists was voiced by
B. w. Snow. generally regarded as the
dean of grain trade authorities here.
Discussing the temporary closing of
United States grain exchanges today,
Snow said:
In times of deep feeling or OF gen.
eral apprehension, excitement is said
to carry human action beyond the
bounds of well thought reason Market
action OF the past days has been
the result Of general public buying
panic. The price rise came faster in
future commitments than could be
equaled by cash consumptive price
changes. The sudden upcurve estab-
liShed within the final week represented
public hysteria based to some extent
upon fears OF food shortage and prob
ably to larger extent upon hazy and
ill-informed belief that money imitation
was under way and destined to bring
artificially high-price quotations for
all commodities"
Snow continued: "The collapse of the
price structure finally and so largely
erected upon misunderstood economic
program is occasion for no surprise.
Such a collapse, however, does not
in the lease change the fundamental
basis upon which grain price recovery
Is predicated, nor does it necessarily
mean that prices themselves have ac-
tually been carried too far. It simply
means that public hysteria drove part
VI tllc PIlCc ucttIullIldGlUIl IIldCl1lLeIy
out of line with the other part, or
hurried future prices until they were
out Of line with cash and consumptive
prices.
THE fundamental situation has not
been changed in the least Drought and
heat since June l have destroyed crop
prospects in this country and in Can
ada until our own wheat crop Is some
$50 1000 900 bushels below our consump-
tive needs. and the Canadian crop ap-
parently Is below the failure year of
1881.
In view of crop losses since June 1.
and in view Of price recessions during
the past two days, due to overburdened
holders panic, it would seem that the
temporary closing of the exchanges will
afford needed opportunity for price ad-
justment and more important, for re-
covery of public mental balance The
actual supply and demand situation Is
not In the least changed.r
Evening star., 1933-07-21

not fit into the scheme of the campaign.
He asserted the administration was con-
fronted with an emergency situation
dealing directly with people out Of work
Many" he added have been jobIess
during the period of the most eXhaus-
tive depression that has ever confront
ed this country
The fear of unemployment" he con-
tinued, lis the greatest in the minds of
all the people. Here is a program de-
signed to set up system that will abol-
ish this fear.
IF that is ballyhoo they can make
the most of it as far as I am con-
cerned"
In connection with the educational
drive, johnson said cooperation of
outstanding local citizens and organi-
cations Is to be solicited.
Eventually" he said, 'the campaign
will be organized along State lines and
carried down to individuals in every
community in the country regardless of
size. The message Of the administra-
ton will be carried by varied channels,
including speakers both in public meet
ings and by RADIO newspapers, display
advertisements, posters and other meth
ods used in previous Government cam
paigns of information"
Evening star., 1933-07-21
TAXES SHOW BIC
STOCK DEALINGS
Levies Virtually Doubled in
June Over May, Revenue
Bureau Reports.
By the Associated Press.

By the Associated Press.
Stock market operation taxes virtually
doubled in June over May, it has been
announced by the Bureau Of Internal
Revenue.
Taxes on capital stock transfers
amounted to s6,199,113 last month, COM
pared with $685. 279 in May.
All taxes collected during the month
totaled $251 .600,99 an increase OF
$136 846,868 over May.
OF the total $146,574.827 was from
quarterly income tax payments which
produced only sl4.68s,0l0 the previous
month.
Deducting the income tax from each
month the June collection was approx
mately s7,000,000 more than in May.
Beer Taxes Larger.
Beer taxes returned Sl2,937.776 as
compared with S11,172, 1922 in May while
special taxes on brewers and dealers
brought in s816.016 against $363, ,704.
Taxes on bonds, issues Of capital
stock. conveyances. etc.. provided ST.
452 .867 as compared with 81 ,345, ,701.
Revival Of business was indicated fur
ther in an increase in taxes on checks
and in automobile levies. The check
tax brought in $3,233,862 as compared
with $3148.191 in May while automo-
bile and motor cycles paid $2,0l4,407
against $1,056.137.
Other Tax Receipts.
Gasoline paid o,s2s, ,73s against s12.-
773.674: telegraph. telephone and radio
message tax $1,160,745 against S1.607.-
345. and tobacco products 4,363,77
against $45,210,301.
For the fiscal year the aggregate of
taxes from all sources showed an in
crease of s62,110.181 over the previous
IL months. totaling $1,619,839,22
OF the increase $35,149,492 was ac-
counted for by tax and license fees
collected from beer in the three months
it has been legalized.
Evening star., 1933-07-21
FARM CREDIT UNIT
MAKESLOANSTO2
$56,4W Is Advanced for
Crop Purposes in Berke.
ley County, W. Va.
Special Dispatch to The Star.

Special Dispatch to The Star.
MARTNSBURG, w. Va, July 2l.-
Twenty-one loans, all to orchardists and
orchard companies. have been made
during June and July by the Regional
Agricultural Credit CORPORATION. Fed
eral farm financing aid institution. to
Berkeley cOuntians, for a total Of $685.
400 so far, according to records Of the
clerk of County Court here.
The loans range from the largest.
$4,000, downward to $3.50. OF the 81
loans completed for this county, IS
were to orchard companies and 6 to
individual orchardists. The Federal
corporation takes as security liens on
personal property, such as orchard
equipment, and a lien on the forthcom-
ing crop.
Bankers here point out that the net
result of this governmental financing
is to bring this much new" money into
the community The money probably
is to be spent for current expenses Of
growing the crops, and has been only
partially expended, in most cases, so far
the rest remaining on deposit here. The
loans also appreciably assist the banks
in tiding the grower over the time OF
his acute need Of funds. The local loans
are made through the Baltimore
branch, Regional Agricultural Credit
Corporation. Jefferson and Morgan
County growers have used the new
money source extensively also, 1t Is un-
derstood here.
Evening star., 1933-07-21
Crash In Stocks Analyzed
Reaction Held Result of Oyerspecalat;on in Markets.
Plus Fear Occas;oned by Official Warnings
and Private Factors.
actually weakened many speculative &C.

actually weakened many speculative &C.
counts.
In commodities the situation had
become as dangerous as In stocks, for
the public was engaging In q mad
gambling orgy which was bound sooner
or later to bring violent repercus-
"The public losses in the markets are
probably colossal"
Reaction Long Overdue.
The New York Times: Whatever
may have been the immediate cause OF
the 'shake-out' it was agreed yes
terday that the reaction was long over
due. The reason commonly assigned
was that pyramided speculative struc-
ture that was weak at the base had
four months and that q series of mar
gin calls had frightened timid traders
At any rate. the first crack in the
market uncovered a great many stop
loss orders. There was the familiar
progression from there on. The usual
penalty for speculative overextension
had to be paid"
The Times also said, Most brokers
believed last night that the decline had
corrected the overbought condition
which had prevailed for more than a
week and were inclined to look for
more normal trading"
Trader" in the Daily News: "Un-
restrained speculation was dealt anoth-
er body blow
while the primary reason for the
break was the crash In wet stocks,
which undermined sentiment, Wall
Street considered the attitude Of the
administration on the future OF busi-
ness as more important. Admission OF
an impending crisis unless wages were
raised to meet the upturn in com
modities. was considered extremely bad
news. There was also considerable un-
easiness over suggestions made in
Washington that price swings in sec,lri-
ties and grains be limited during q
single session"
Evening star., 1933-07-21
BY the Associated Press.

BY the Associated Press.
NEW YORK, July 2l.-Here Is how
New York financial writer's explain the
slump Of stock and commodity prices:
New York Herald-Tribune: Three
days ago banks frightened the lines on
speculative credit, giving a push to the
pyramid price structure. Distilling
stocks, favorite with 1888 spectators,
were the first to respond by moving
downward. -
THE vulnerable technical position OF
all the markets honeycombed with weak
speculative accounts, accelerated the
slump in values. -
The foreign factor Of great psyche
logical influence on the side of the de-
cline was the sudden great strength OF
the dollar against sterling, brought
about by the British conversion offer
made to holders of 5la per cent dollar
bond issues here in 1917. A great Sec
tion Of Wall Street looked upon this
offer as an adroit maneuver by Great
Britain to bring sterling rates down
in terms Of dollars, the recent advance
In sterling having become a sore point
with British exporters.
johnson Views Factor.
Sentiment was treated to another
cold dash Of water in the form of a
warning issued by Gen. Hugh S. john
son. industrial recovery administrator
that a domestic crisis impends within
60 days unless wages are quickly boosted
throughout industry to bring purchas-
ing power up to the level of presently
elevated prices. Wall Street also
took notice of the fact that labor circles
are getting restless in the face of ad-
vanced price levels and that numerous
small strikes are being called ."
The New York American: The plain
fact is that the public had engaged in
a wild gambling spree which weeks ago
had exceeded reasonableness. The
whisky collapse produced major
shock to the. markets. since it undoubt-
edly disturbed not only sentiment but
Evening star., 1933-07-21

Stronger beer is sold now and new
revenue flows into the Treasury as a
result Of fulfllment Of that part of the
Democratic platform which called for
modification of the volstead act.
The brew has a limita ton by law
to an alcoholic content of 80 by weight
or per cent by volume and Is taxed
IS barrel.
Figures released today show June
brought to the Treasury over $13,750,-
900 from taxation Of beer and on brew
ers and dealers, and more than $11 $780,
COO in May.
Congress also has removed virtually
all restriction on prescription Of liquor
for medicinal purposes.
The law now allows issuance OF all
the liquor considered necessary to meet
the needs of patient and eliminates
the requirement that q doctor name
the illness in the prescription.
The old limit was one pint of whisky
or one quart Of wine every 10 days
and restricted a physician to 100 pre-
scriptions for each 80 days.
Further, with encouragement from
the President, an active campaign to
speed repeal Of the eighteenth amend
ment is being conducted by Postmaster
General Farley He sets a December
deadline for reaching his goal.
The financial and personnel strength
Of Federal enforcement agencies has
been diminished markedly in economy
endeavors
Designed to save $25 100000 each
year. in executive order has been is
sued for consolidation of the present
Bureau Of Internal Revenue and Bu-
reau of Industrial Alcohol in the Treas
ury Department. and of the investiga-
tory functions Of the Prohibition Bu-
reau into a division of investigation in
the Justice Department.
The Prohibition Bureau has directed
its agents to concentrate on big vio-
lators and leave speakeasies to the
States for prosecution. With funds
sharply reduced, over 1000 agents have
been let out
At first Congress reduced the appro-
pristion from more than $4,000 900 re-
quested to about S3,000,0o0 and this
was reduced by the budget director
by around S4,000,000.
Evening star., 1933-07-21
NURsERYMEN UNDECIDED.

Chicago, July 21 @-Unable to de-
eide whether their business should
come under the category Of industry or
agriculture. a special committee Of the
American Nurserymen's Association to-
day decided to 60 to Washington, D. c.,
for an omcial opinion from the ad-
ministration Of the national recovery
act.
A minimum wage Of 45 cents an
hour and Q maximum week Of 48 hours
for gasoline service station attendants
was adopted yesterday for inclusion in
code Of fair practices by the Retail
Gasoline Dealers Association, repre-
senting Central States.
Assistant attendants were listed for
q minimum wage Of 40 cents an hour
These figures. 1t was asserted, would
mean . 80 per cent increase In mini
mum wages
Evening star., 1933-07-21
GRAIN TRADING SUSPENDED.
ALI Exchanges in U. S. Close for Day
After Prices Collapse.

CHICAGO, July 81 (P.-The grain
trade drew long breath and relaxed
today as trading was suspended at all
the American exchanges to allow rest
from the violent sessions which culmi-
mated Yesterday in the worst price COL
lapse in many years
Following the action of the Chicago
Board of Trade in suspending dealings
for the day, Kansas City. Minneapolis,
St Louis and Duluth were quick to fall
in line and take a holiday. When
trading is resumed tomorrow there will
be limits on daily fluctuations.
The action taken by directors Of the
Board of Trade late last night caused
but little surprise. The reason given
for the suspension of trading was that
tired employees needed some rest, but
veteran observers saw it as a means
Of checking the frenzy which character
lied transactions late yesterday. Then
wheat dropped upwards of II cents,
rye rs and other grains in proportion.
Galleries Crowded.
Although it was holiday in the pits,
hundreds of traders circled uneasily
around the vast trading floor of the
exchange with huge crowds in the
gallery watching curiously. The COM
parative quiet of the trading floor was
in strange contrast with the uproar
that usually prevails Brokers' clerks
worked many hours checking their
records.
A few transactions were taken care
Of in the cash market, mainly busi-
ness that had to be cleared on newly
arrived shipments.
Traders gathered in knots to talk
Evening star., 1933-07-21
JUNE BEER TAXES
TOTAL S13,790,0DO
Treasury Receipts Mount as
Result of FuIfiIIment of
Party Platform.

Editors Note: This is another OF
series of stories by star Triters of the
Associated Press on odministrdtion
legislation noU in etect)
Evening star., 1933-07-21
Chinese Fearful
OF Winter Famine
From Rat Horde
BY the Associated Press.

8y tne ASSOCIdteu FIeSS.
SHANGHAI, July 2l.-Hordes
of rats are overrunning the
southern part OF the Anhwei
Province, In East Central China.
Chinese reports from Wuhu and
other cities in the province said
Tuesday.
The rats are injecting the
water supply and are destroying
crops. A famine during the COM
ing Winter was predicted as q
consequence.
Farmers are said to have ex-
hausted all means of fighting the
rodents and have appealed to
the Nationalist government for
help.
Evening star., 1933-07-21
RUBBER INDUSTRY
D|SAGREES ON CODE
Difficulty Encountered in Dis
tribution and Selling Part
of Program.
BY the Associated Press.

BY the Associated Press.
CLEVELAND, July 21.-The rubber
industry's committee to draft a code
Of fair competition was reported today
to have experienced difficulty in reach
ing an agreement on regulations for
distributing and selling rubber products
Its efforts to draft labor regulations
were progressing smoothly. but it was
understood 1t could not agree readily on
methods Of handling distribution. Some
members were represented as feeling
this portion of the code would affect
more workers than the production end
Charles c. Gates Of Denver, COM
mittee chairman, said ALLEGATION of
production of the companies will be at
tempted. We are making progress, but
there are no definite details to an
nounce."
The committee viii meet here again
next Thursday, but In the meantime
ofIicials Of the Firestone, General, Fisk
Kelly and Pharis companies were said
to have arranged . conference for to-
morrow to discuss the ALLEGATION ques-
ton with Newton d. Baker, counsel for
the Code Committee.
Evening star., 1933-07-21
JOHNSON SHAKES UP
PRESS Department
IN RECOVERY DRIVE

Continued From First Page.)
Evening star., 1933-07-21
So He Missed It,

OAKLAND. Calf LP).-An applicant
for the position of city manager stated
he had had 25 years experience in
land the job. He forgot to sign his
name to the application.
Evening star., 1933-07-21
Expects to Live Long.

POMEROY,. Ohio (P.-Dr. Amy
Whaley. who at 95 claims 10 he the
Oldest living registered dentist in the
United States, was told a sub scription
to her favorite magazine had expired
Evening star., 1933-07-21

Bees are sent from Louisiana to North
ern States in the Spring to afford earlier
fertilization OF orchard blossoms.
The Washington times., 1933-06-30
OLD SASSAFR FRAS
TREES DYING

The grand-daddies of all the
sassafras trees in all America
are the two specimens that stand
in front of Scott Building at
Soldiers Home, according to H.
E. Pammel, superintendent of
grounds, and the trees are on
their last roots.
Examined by foresters and
horticulturists, it is believed these
two trees are somewhere between
500 and 1000 years old. Each
is about three feet in diameter
but, examination discloseS, the
old trunks are rotting. And that
seems to be the end of the trees
The Washington times., 1933-06-30
SLAYER FOUND KEY POSITIONS
IN CEMETERY ARE PROMISED

DAYTON. Ohio, June 80 GN.S0
Caught hiding behind tree in
Dayton cemetery, James D. Shad-
bolt, SIS, of Dayton, a former in
mate of the National Military
Home here, was arrested by police
early today as the slayer of Col.
Vernon Roberts, So, chief military
officer at the home.
Colonel Roberts was shot down
and fatally wounded with four
bullets fired point-blank into his
body after he had been sum-
moned to the door of hs home by
the assailant late last night.
Police said that Shadbolt, who
was described by officials of the
military home as mentally de-
ficient," had confessed to the slay-
ing.
The Washington times., 1933-06-30

CAMPOBELLO ISLAND, N. B.,
June 80 G.N.S0.-Ashore for the
first time in nearly two weeks,
President Roosevelt today enjoyed
a rest amid scenes he loves and
remembers from his earliest days.
He first came to this tiny
Canadian island 49 years ago. His
parents brought him here when
he started teething and was fret
full in the climate of his home
in Hyde Park, N. Y. Since that
time he has come yearly. until,
about IL years ago, increasing
duties forced him to give up his
camp as an annual vacation spot.
Back again, he was obviously hav-
ing a good time.
Tomorrow he will board the
Navy's newest cruiser, the 10000
ton Indianapolis, and start q
The Washington times., 1933-06-30
BRAVO! SHOUTS.
PRIMO : GIRL

LONDON, June 80 Q.N.SO,
Bravo Primo! knew he would
win despite all our worries"
Beaming with pleasure, Emily
Tersini, pretty Soho waitress who
recently won a settlement from
the new heavyweight champion
in love balm suit, commented
thus today when informed her
erstwhile giant boy-friend had
flattened Jack Sharkey.
Miss TerSini demurely revealed
she had cabled the battling be-.
hemoth her best wishes before
the fight.
The Washington times., 1933-06-30
BEANE
ADD PARTNER

Fenner, Beane & Ungerleider,
one of the largest brokerage firms
holding membership in the New
York Stock Exchange, announce
that Louis w. Laudick, for many
years a prominent figure in local
business circles, has been made a
partner in the firm.
Mr.. Laudick will be resident
partner with headquarters in the
firms office in the Southern
Building. John D. Mothershed
will continue as manager of the
local office, and Richard P. Davis
as assistant manager.
The Washington times., 1933-06-30

Efforts of the Administration to
find work for Democrats became
the theme last night Of the first
public meeting Of the Takoma
Park Young Mems Democratic
Club, with prominent Democrats
of Maryland and the Nation
speaking.
Karl A. Crowley, solicitor of the
Post Office Department, declared
the key men must be in sympathy
with the President or be ouSted,
while Representative David j..
Lewis said the President must
have Federal machinery geared to
work at his speed, necessitating
Democrats in office who believe in
the same policies.
The Washington times., 1933-06-30
STATE To SEEK
FULL BENEFIT
. Of j. 8. AID
Program of Necessary Legis-
Iation Mapped at Confer
enCe in Marlboro

Gov. Albert C., Ritchie is con-
sidering calling a special session
of the Maryland legislature to
pass laws enabling counties and
municipalities to issue bonds and
otherwise raise money to carry
out provisions Of the public works
Jaw.
: This was one development of
Ehe mass meeting yesterday in
Upper Marlboro of officials and
residents of Baltimore, Anne
Arundel, Howard, Calvert, St.
Marys, Charles and Prince
Georges counties, called to hear
an explanation of the $3,300,000,-
D00 public works bill and to dis
cuss possible construction and i'm
provements in the counties. which
constitute the Fifth congressional
district Of Maryland.
The disclosure that Governor
Ritchie contemplates calling the
legislature into special session fol-
lowed query as to how counties
Should go about financing pro-
POSED projects because the legisla-
lure has adjourned until 1885 and
enabling legislation is necessary
from that body.
Representative tephen w.
Eambriu, chairman of the sub
committee on public works for
the Fifth district, said:
"The governor is now con-
sidering calling a special Ses-
sion of the legislature to take
care of the necessary legisla-
tion."
Proposals for two projects of
Importance to Washingtonians
hnd Southern Marylanders were
made.
T. Howard Duckett, chairman
of the Washington Suburban
Sanitary Commission, laid before
the subcommittee a request for
aid in getting money to extend
old sewers and construct new
bnes to eliminate sewerage in
the Paint and Northwest branches
and the AnacoStia River.
The cost of the work contem-
plated in Prince Georges county
will amount to approximately
$650,000 and similar work in
Montgomery county, in the Sixth
congressional district, will cost
about $450,O00, he said.
The second proposal was for
aid in building a bridge across
the Potomac River at Pope'S
Greek. This bridge, it is estimated
would cost $3,350,000 and would
pay for itself in ID years. M.
Hampton Magruder, prominent
Prince Georges lawyer and politi
cal leader, spoke on behalf of the
project.
Burt M. Bromley, mayer of
Colmar Manor, suggested money
be loaned for the purpose of
constructing underpaSSes under
Ehe Washington Boulevard in his
community.
A Riverdale delegation, headed
by Mayor W. A. Carson, asked
that funds be supplied for carry
ing Jefferson Avenue either over
or under the Baltimore and Ohio
railroad tracks in the town and
thus eliminate the Madison Ave
nue. crossing.
Representative Gambrill told
all applicants to have their writ
ten applications for loans in the
hands of his subcommittee not
later than July 5.
The Federal Government has
plans made to spend $4,000
dredging and improving the har-
bor at Paris Greek off the West
River, Mr.. Gambrill said. Other
projects to be financed entirely
by the Federal Government are,
he said, $497, 900 for breakwaters
at Annapolis harbor; $720,O00
for 10 SiX-room apartments at
the Naval Academy; $4,000 for
improvements at the Curtis Bay
Quartermaster Depot: $4,000 for
construction and improvement at
Fort George G. Meade.
n