davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1933-11-02
MARKET SHOWS
SIGNS Of NEW
BUOYANCY
By WALL STREET SPECTATOR

BY WALL STREET SPEC1AAOn
NEW YORK, Nov. 2 0.N.S),
Wall Street is coming out of its
blues since the market gave 9
few more signs yesterday that il
would like to go up. Wheat had
a new spill. but this failed tt
bring back that recent AL is lost"
feeling.
Even the DOGGY of regulation
is being looked at more calmly
And there is the realization that
that aim is what the exchange
itself has been doing, to elm
mate manipulation and othe1
abuses. We can't see the bea1
point in this.
There has been some smart
switching from steel common to
Sears Roebuck. They're selling
around the same price. and it will
take steel a long time to come
up to Sears present earnings.
Floor traders were impressed
when the liquidation of around
10000 shares of stock failed I'd
shake the market. This brought
quite a bit of buying, and more
came in when the news got
around of the appointment of five
new members of the NRA board
indicating modification was under
way.
One rail head we saw today
looked more in need of main
tenance than his road. His salary
has just been cut from $75,00C
to 100000, which may explain
the worn collar on his overcoat
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1933-11-02
DQnUiLLe Tobacco
Prices InlDrOUinQ

DANVILLE, Va, Nov. ITO
bacco prices this week have at
tanned the highest average Of the
year, at $17.25 per 100 pounds,
due principally to the better
quality of leaf now being de-
livered by the farmers. Good
quality cigar wrappers have
brought as high as 10 cents q
pound and demand is active for
the better smoking grades.
Merchants report a noticeable
pickup in business, due to more
liberal buying by the farmers.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1933-11-02
Edison Is President
Of Equitable Again

John Joy Edison has been re-
elected president of Equitable Co
operative Building Association
which he helped to found in
1879 and of which he was the
first secretary. He reported good
business for the association
during the past year.
With Mr.. Edison there were re-
elected Harry G.. Meem and Gill
bert Grosvenor. vice presidents:
Walter S. Pratt. jr. secretary.
Ralph P. Barnard, Frederick v.
Coville, Charles H. Doing, Messrs.
Edison, Grosvenor, Meem and
Pratt, Robert L. Lewis, Frederick
B. PYLE, directors.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1933-11-02
CHICAGO LIVESTOCK

. CHICAGO. Nov. 2 Ns).-Hogs-
II. 900; steady. Top $3.50; bulk, $a75@
42O; heavy, S3.75 @4.3O; medium. $s.OO@
43O: light, s3.S5@4.25; light lights
pigs. $3.OO13.S5. Followers 5000.
TE Cattle-5,0OO: steady. Calves, 1900;
steady. Beef steers: Good and choice,
b 95 5O@640: common and medium, 1915
Gattie-Heifers, $4,000 500; cows. $4,000
.a76; bulls. S2.SO@3.75; calves, $3.50 q
o.50: feeder steers, $500 500; stockel
steers, $3.00@4.50: stocker cows and
sheiferA $500 $3.50.
sheep-s, 900; steady Lambs. 5000
T,OO; common, HO0@4.75; yearlings
0G.O005.OO: feeders, &5.75Q64O; ewes
QI,S0@3.75.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1933-11-02
y. S. Gold Exports
HdLDed in October

Gold exports from the United
States were virtually halved in
October, totaling $27,589, 300
against $50, 972 300 in September.
Practically no metal was shipped
in the last ten days of the month.
Exports a year ago were only
$3.50
Earmarked stocks were cut $685.
866, 400 last month. Exports Of
newly mined gold came to 257 1853
ounces against 89,175 in Septem-
Der,
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1933-11-02
PITTSBURGH PRODUCE
SALES

PITTSBURGH. Nov. . G.N.S).-Poul-
try-Market weaker demand good; sup
ply ample: colored hens. lbs. and up,
14c; medium. 12c: Leghorn hens, 81
lbs and UP. 1oc: medium. Sc; Handbook
sprinsers, s& @1Oc; coiored springers, ~
lbs. up. 12c: medium, 10@11c; turkey
Hens. 17@1Sc: ROSTERS. 7@sc; ducks.
lbs. up, 10c; medium. Sc; geese, 1860;
turkeys, toms. 17@1Sc.
{ Butter-Market weaker: demand good !;
supply ample; 80 score, 24Ac; 80 score,
3O%c; IS score. 1850; standard. 22Kc.
supply ample; nearby current reg. 10
a@20c; fresh extra first. 21@22c; hen
merry white extras. 2703Oc; southern
Ohio and West Virginia, Kentucky. cur
rent receipts. 1Sml9c: refrigerator
firsts. 15i5 a1Shc: refrigerator extras,
i7M1gc
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1933-11-02
Pennsylvania Car
LOUdings Increase

NEW YORK, Nov. 2 G.N.S0.
Pennsylvania Railroad showed a
trend today contrary to other car
riers, it's loadingS rising for the
week, but falling under a year
ago. Cars handled totaled o.
Asst against 91,545 the week be-
fore, and 92,743 in the same 1882
week.
Loadings for the year to date
were 3,682,313 cars against $685.
500 cars in the like period last
year. {
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1933-11-02
WOOL MARKET

NEW YORK, Nov. 2 H.N.sD.-wool.
airm: dmestic fleece. unwashed, Ohio
and Pennsylvania. 2S@42c; domestic
pulled. secured basis, 70C@ 81 90; domes-
tic, Texas. dean basis ~ + SEC: domes-
tic, territory. clean basis, So SAC
Evening star., 1933-02-02
BONDS.
PUBLIC UTILITY

Barber & Ross. Inc. 6las..... 80 go.
Chevy Chase Club 5i2s..:... 991a 80.
Columbia Country Club 5las.. gst2 1o3
D. c. Paper Mfg. is. ....... 10 49,.
Wash. Mkt. Cold Storage 5s.. VI "a
Evening star., 1933-02-02
j. s. GOLD STOCKS
WELL MAINTAINED
Collateral Requirement for
Reserve Notes Is Covered
Nearly Twice.
BY CHAS. p. SHAEFFER,

Associated Press Business Writer.
The Government held in its vaults 70
cents in gold to secure. every dollar Of
Federal reserve notes issued to reserve
banks on December 81, 1882.
Tits fact is revealed in the monthly
statement Of the Federal Reserve Board
which showed gold collateral held by
agents as security for notes issued
amounting to $2.351 900, securing
s., ,987, ,015.000 issued to the reserve
banks.
The gold requirements under the Fed
eral reserve act provide for a minimum
on 40 per cent Of gold. the balance to
be made up of either eligible paper or
bonds of the Government.
The gold security back Of the notes
In actual circulation on the above date
was sc per cent, backing up the 81
1888, $685. 900 Of notes in actual circula-
ton In like manner the eligible paper
amounting to S2l9,888.000 pledged as
security and the $427 100000 Of Gov
ernment securities similarly pledged
brought total note coverage to l00.41
per cent at the end of the year.
The Federal Reserve Bank OF Chicago
had the highest security back of its
notes, its gold amounting to $699 ,870, 900
providing a gold base Of 81 per cent for
It's note liabilities Of $733,788,000. The
Federal Reserve Bank Of New York was
next highest with 30 per cent. having
circulation of $67l ,069 900 and gold re-
serves of s6l6,630,OO0 The Boston
district also had higher ratio than
the average Its gold reserves of $751;
027,O0O providing an "a per cent base
for liabilities of $214 100000.
In the table that follows the note
liabilities. gold security and percentage
of coverage is given for the IL regional
institutions, as compiled from the Fed
eral Reserve Boards report:
Evening star., 1933-02-02
Washinqton Stock Exchange

SALES.
After Call.
Wash. Gas IS 1958-S9000 at 94A.
Pot. Elec. IS 1851 900 at 1084.
Bid and Asked Prices.
RONnC
Evening star., 1933-02-02
CURB SHARES DROP
IN ACTIVE MARKET
Canadian Gold Stocks Move
Against Trend-DecIines
Are Small.
BY JOHN A. CRONE.
Special Dispatch to The Star.

special Dispatch to The Star.
NEW YORK, February 2.-Pressure
against public utility and petroleum
shares and brisk bidding for some Of
the Canadian gold stocks featured to-
days active and lower session on the
Curb Exchange.
The usual market leader. Electric
Bond g. Share, was outdistanced In
point of volume during the forenoon by
the low-priced De Forest Radio, which
came out in several big blocks. Elec-
tric Bond g. Share moved within q
fractional range. Standard Oil Of In
diana, likewise, was only on slightly,
but several times 1t came out with VOL
ume offerings Cities Service was not
much changed.
The Roosevelt proposal to make a
huge laboratory in reforestation, rec
lamation, power. and farming in the
Tennessee watershed, involving the
Muscle Shoals project. to aid unem-
ployment, was interesting to the many
power companies in tbs. territory as
we'll as some of the chemical concerns
that have been bidding for the prop
erty.
Commonwealth & Southern, for in
stance, would be right in the heart Of
this project American Cyanamid, for
q @AsOSs
probable recipient of Muscle Shoals for
industrial purposes Neither Of these
shares moved much during the first
several hours today.
The announcement Of tire price
cut by Firestone was not Immediately
mirrored in the rubber classification,
which has been dull and heavy these
last few weeks.
Lake Shore Mines. which in 1880
and 1881 output ranked first as a gold
producer on the North American CONT
nent and fifth among the worlds gold
mines. was bid up almost 2 points in
as many hours today. Beyond the
boom in gold shares In Johannesburg,
London, Paris. Montreal and Toronto,
there was nothing+to account for this
squirt.
Teck-Hughes, which during the same
two years ranked sixteenth in world
gold mine output, was steady. So were
Hollinger. Wright -Hargreaves and Pio-
neer. which ranked seventh, thirty
eighth and eightieth, respectively. IN
world production.
Evening star., 1933-02-02
EXCHANGE Orders
INQUIRY ON AU1!l!S
Yr3.
Directors Make Request for
Information Affecting Sc
curitieS on Market.
IC.1
By the Associated Press.

By the Associated Press. Cr
NEW YORK, February 2.-The New
York Stock Exchange has moved q step
further in its campaign Of Tightening
up listing requirements. s5.4
The Exchange addressed question:
naire to all companies which have
securities listed. requesting detailed in
formation as to the scope of, their
audits y'r'
Only recently the Exchange, ruled
that companies seeking new hStings
must have independent auditors pre-
pare their statements, and Richard
Whitney president of the Exchange.
explained today that the questionnaire
now being sent was part of a study
which may lead to more drastic regula-
tions.
Exchange officials have for some time
been considering the desirability OF re-
tain approved lines by all companies
whose securities enjoy trading privi-
leges in the Exchange .~'"
The letter to companies said the
public response to the recent ruling on
new issues indicates clearly that in
dependent audits are regarded by In
vestors as useful safeguard.
If, however, such a safeguard Is to
be really valuable and not illusory, it
is essential that audits should be ade-
quate in SCOPE and that responsibility
assumed by the auditors should be de-
fined. The Exchange is desirous Of
securing from companies whose securi-
ties are listed, and which now employ
independent auditors, information which
will enable 1t to Judge to what extent
these essentials are assured by such
audits.'
The information is requested upon
completion Of the audits of the COM
panies for 1882, and among questions
asked are whether the scope of the
audits is as extensive as that contem-
plated in a Federal Reserve bulletin en-
titled "Veriflcation of Financial State
ments"; whether subsidiaries were au-
dlted, and if not, the relative impor-
tance OF the subsidiaries; whether the
companies believe their statements are
such as fairly to present the results of
operations and financial position :,
whether the system of accounting con-
forms to accepted practices, and
whether 1t is in any respect inconsist-
ent with the recent recommendation
OF the committee of the American In
stitute of Accounts on co-operation
with Stock Exchanges. -
Evening star., 1933-02-02
CHICAGO DAIRY MARKET.

CHICAGO, February CP.-Butter,
8,8l5 tubs; steady; creamery specials
(93 score), 171za18; extras (92) II; ex-
ira f1rsts (90-9D, 1871; firsts (88-89)
16a16A; seconds (86-8D. 1914: stand
ards 100 centralized carlots), II.
Eggs-11, ,818 crates: steady; extra
firsts, 1924; fresh graded firsts, 12k;
currents receipts, 11h.
Evening star., 1933-02-02
BONDS ARE LOWER
AS SELLING GAINS
German and Junior Rail Is
sues Are Featured on
DOWnsWing.
BY CHARLES F. SPEARE.

Special Dispatch to The Star.
NEW YORK, February 2.-Without
many exceptions, the bond market to-
day followed the markets for stocks into
Q lower range of prices.
There was certain amount OF spec
ulative selling by dealers who had
taken a bullish position on lower grade
rails and public utilities and in German
dollar loans At the same time the
developments of the week here ana
abroad have been detrimental to main
tanning prices at recent averages.
German issues were 2 points lower
In London this morning. After start
ing here at fractional declines, the list
softened and went to p points be-
low Wednesdays closing. Canadian
loans were again heavy in spite OF
better showing for Canadian exchange
The Dominion 4l2's touched new low
price for the year, about points unoer
the recent high. There was suoStan-
tial improvement in some OF tne
Chilean loans. following announcement
that progress in the foreign depC sltua-
tion was being made.
Nearly all of the junior rails were
heavy. Baltimore & Ohio issues were
down l to 2 points In spite OF the an
nouncement that the consent OF over W
per cent of the holders of the 4l2s to
the new plan had been received. Mis-
souri, Pacific issues were also weak. All
of the temporizing with the companys
finances fails to create a favorable
sentiment among either spectators or
investors. New York Central. Penn
sylvania, Southern Pacific, Chicago q
Northwestern. Rock Island and Ale
ghany bonds were all depressed. There
was even some shading in the prices
of the high grade rails.
The feature of the industrial market
was break of points in United States
Rubber S. which sold at new low for
the year United Drug 5s were of a
point and Texas Co. SIS, Tobacco Prod
ucts 6l2s, Philadelphia & Reading Coal
IS, National Dairy Products 5i4s and
Bethlehem Steel SIS of 1896 were near
tr below previous minimum quotations
ior 1888 Paramount-Publix 5Rs,
which have just gone into default, have
recovered several points, after the FASH
ion of many other bonds which seem to
be worth more in the market when
they suspend interest than when they
art paying it.
United States Government loans held
close to their recent high prices. The
Treasury 414s were above Ill and the
Is over LOT, with the 3lss slightly above
par.
Evening star., 1933-02-02
Petition in Bankruptcy.

BALTIMORE. February Especially
"A petition has been filed in the
United States District Court by E.
Samuel Culver. the Thomas Somerville
Co. and the Westinghouse Electric Sup
ply Co.. asking that the Quality Lu-
bricating Corporation. located in
Prince Georges County, Md, be ad-
Indicated a bankrupt.
The petitioners claim that they are
creditors Of the defendant in sums ag-
gregating s70984 and allege that it is
insolvent.
Evening star., 1933-02-02
Baltimore Port Arrivals.

BALTIMORE. February 2 Especially
Two hundred and four vessels ar
rived In Baltimore during the month
of January, according to the maritime
exchange. The United States led in
arrivals, with 1853 vessels, and Great
Britain was next, with H. Among
the arrivals we're 81 motor ships. 40
oil and molasses tankers and an Army
transport.
Evening star., 1933-02-02
POTATO MARKET.

CHICAGO, February (P) Omitted
States Department of AgricultmeL.-
Potatoes-Receipts, 81 cars; on track,
1893: total United States shipments,
568; demand very slow; supplies liberal,
including truck receipts; Wisconsin
Round Whites. few sales 67rsa70;
Michigan Russet Rurals, 6712; Idaho
Russets mostly ll0a117l2, few higher;
Colorado McClures. 1.20. ''H
Evening star., 1933-02-02
Bank of France Statement.

PARIS. February (P.-The weekly
statement of the Bank of France shows
the following changes. in francs: Gold
decreased l39,0o0,000; sight balances
abroad increased 100000; bills dis
counted at home increased 535, ,e00, 900:
bills bought abroad unchanged: ad-
increased 288 900 600; current accounts
increased 228,000,000.
Rate of discount. 2l2 per cent -
Evening star., 1933-02-02
BANKERS JOURNAL SEES
FISCAL REFORM AS NEED
By the Associated Press.

BY the Associated Press.
NEW YORK, February 2.-The
American Bankers Association Jour-
nal says the condition of business dur
ing the month ended January Is was
better than the condition of business
sentiment.
The publication attributes lack Of
confidence largely to absence OF def
mite progress at Washington on pro-
grams of economic helpfulness and fis-
cal reform through adequate economies,
more productive and equitable taxation
and q balanced budget"
Evening star., 1933-02-02
Mill on Full Time.

MARTINS FERRY, Ohio. February
(P).-The Yorkville Tin Plant, which
for several months has been working
on IS per cent production basis. will
operate at maximum capacity, company
officers announced.
Evening star., 1933-02-02
lNew York Cotton

epciai Dispach to The Star.
NEW YORK, February Cotton
prices here today opened off to 8
points, despite the slight gains recorded
in the Liverpool market.
Opening quotations were: March.
SIG, off 3; May, SCI, off 2; July. sos,
off q, october, 6.21, off 3; December,
635, off 2; January, 639 of l.
Evening star., 1933-02-02
INVESTMENT TRUSTS

NEW YORK. February 2 R.-Over-
the counter market.
Quotations as OF 12 o'clock)
Evening star., 1933-02-02

Dividend rates in dollars based on last
quarterly or semi-annual payment. 'Ex
dividend tPartly extra. :Plus a. in stock
a Payable in cash or stock b Payable in
stock. e Adjustment dividend. Plus So
in stock. Plus So IN stock. Plus 10
in stock. Plus "a In stock. K Plus 100
in stock. m Plus 80 in stock. Plus 80
in stock. Paid last year-no regular rate
Evening star., 1933-02-02
(0OO omitted.

Totals ...-. S2.9S1,ol5 S2,35l.oI5
Evening star., 1933-02-02
Grain Market
By the Associated Press.

By the Associated Press.
CHICAGO. February 2.-Indications
OF liberal new export business in Cam
adian wheat, additional to yesterdays
big total, helped to steady grain values
today. Weakness of various securities
at New York, however, eased the wheat
market late.
Winnipeg messages said today's over
seas buying of wheat totaled more than
SOC, 900 bushels. and that the aggregate
1or 48 hours exceeded 5000, 900 bushels.
Wheat closed easier, unchanged to "a
on, compared with yesterdays finish:
corn unchanged to haA down, oats
showing 1saH decline and provisions
UNCHANGED
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1933-05-02
NEWSPAPERS OPINIONS
SENATOR GLASS DROPS OUT

Senator Carter Glass, veteran member of con-
gress and distinguished for his leadership In That
body has fallen out Of step with President Roose-
velts' iniationary program, and so, for that mat
ter, has Senator Bailey of North Carolina
Senator Glass is recognized as an astute student
of financial problems and generally regarded as the
senates first authority in this field He has long
played with questions appertaining to banking leg
islation and has had conspicuous part in framing
all the important banking and financial measures
now current in this country
The senator has been unable to bring himself
around to the belief that the presidents policy OF
credit expansion, and of imitation of the currency
is a wholesome program and he is not one VINO
easily yields on this subject to any other authority
One must respect his views about this matter
and accord him the right to his position 1t Is,
nevertheless. unfortunate that he has not allowed
himself to team up with Mr. Roosevelt IN this
vastly important experiment.
If Senator Glass has better way, he would, no
doubt be able to convince the president Of it. Mr..
Roosevelt has not indicated the slightest degree
of stubbornness in taking position on any Of his
policies On the other hand he has indicated re-
captivity and not only willingness to listen to the
counsel of Others but to follow them in such cases
as seemed wise and expedent.
This is by no means to say that President Roose-
vet's present proposition to take vigorous hold OF
the money problem is infeXibly right and prove
ably correct. He does not know himself that 1t
will eventuate to have been the wsest possible
course but in the present economic jam, it is es-
sential that something be done that has not been
done before, and President Roosevelt has the dar-
ing and the spirit of adventure not to hold back
in the face of possible errors.
His action seems to be predicated upon the con-
victon that nothing can be worse than the status
quo and, therefore, while his plans may terminate
wholly unsatisfactory and disappointing to HIM
self and to the country, it is better to make trial
flights than to try to stay on present impossible
Observer.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1933-05-02
Gas Masks Sold
In Paris Store

PARIS, May 2. (UP)-A ncr-
vous Partisan, worried over the
recent war scare throughout
Europe. has discovered that gas
masks are for sale in department
stores.
This is the first known instance
since the World War of any civil
ian seeking to buy a gas mask
here, although since the Armistice
nervous peasants in frontier towns
and villages have been known to
spend their savings on protection
against gas attacks.
The Paris purchaser was an
aged women, who went to one of
the large department stores near
the Opera and asked clerk where
she could find a gas mask. She
was considerably surprised when
the clerk directed her Immediate
~ to the department exhibiting
gas APPLIANCES. The model, copied
after the military type, cost about
50. She hurried home, the mask
under her arm.
Directors of the store revealed
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1933-05-02
WORLD FARLEY MAY TURN TIDE
(By BRUCE CATTON)

If anyone doubts the supreme impOr-
tance of the forthcoming London confer
ence on international finances and eco
nomic policies and disarmament, he has
only to read the day-by-day news dis
patches in the daily papers. If these do
not convince him he is beyond persuasion.
Currently, we have a cable from Paris
remarking that spy scare like the one
that swept Europe just before the World
war is gripping France, Germany and
Italy. France has been rounding up spies
along her German and Italian borders.
Germany has been swooping down on Sc
cret French agents. Italy has been doing
the same. With each arrest, suspicion and
fear increase in each country.
simultaneously, another cable from
Paris reports that 'the United States and
the principal European governments have
lost all hope of immediate progress in dis
armament" and adds that the situation
will not grow easier until "the worldwide
political tension lessons
On the heels of this, Chancellor Hitler
declares in Berlin that Germany can no
longer be treated as power of the second
rank-she must be recognized as an equal
partner; and the National Alliance of
German Army Officers issues a statement
declaring that restoration of the Hohen-
zollerns is the browning goal of a recon-
Structed Germany.
Tie all of these dispatches together and
you have as gloomy picture as any Jerc-
miah would care to look upon. Then, to
make the bill complete, lump in with them
the innumerable stories testifying to eco
nOmic breakdown in this countryside
stories of cities that cannot pay their school
teachers, their firemen and their police
men, the stories of closed banks that can
not reopen, the stories of mounting bread
lines, of sweat-shop wage scales and the
like.
What you get, beyond argument, is a
picture of a world in turmoil and distress.
One hope is that the London conference
can straighten out world difficulties and
get us back on the right path again.