davidaulloa/AmericanStories huggingface dataset:
Evening star., 1933-05-01
JUNIOR BOND LIST
CONTINUES GAINS
Rails, Utilities and Indus
trials Are Featured
on Upturn.
BY CHARLES F. SPEARE.
ecial Dispatch to The Star.

s-EW YORK, LAY 1.-The bond
market was active today and in spots
very Strong. Higher prices were the
rule In second and third grade rails,
utilities, industrtalS and some foreign
governments. United States Govern
ment Bonds, however, continued to
drift toward lower levels and this same
srend was in evidence in most Of the
silt-edge corporate securities.
A brisk inquiry for short-term, high
grade loans, chiefly five to seven-year
maturities, active bidding for the
better grade of domestic public utility
peared slightly out of line with the rest
of the market, and widened purchases
of foreign bonds whose interest and
principal at the option OF the holder
might be paid In several currencies
were features Of dealings.
The comparative steadiness Of bonds
in the face of the inflationary move
ment is not SO surprising. British
bonds only tapered slightly after the
gold suspension in that country in 1881.
Fixed revenue investments were not of
much in this country in 1862. In
Britain there was the avoidance of
case fiat money was issued with great
reluctance.
The rise Of three Southern Railway
issues to new high levels for the year
gave the move in speculative rails its
in part mirror the improvement in the
Gotten situation generally, occasioned
the bidding up of issues Of the South
ern carrier.
Freer movement Of automobiles and
accessories explained the forward move
ment Of Pere Marquette issues, for the
road Is largely dependent on the auto
motive industry. Erie issues were also
marked up, in some cases to new high
Jewels.
Announcement Of an advance Of
per cent in tire prices by B. F. Good
rich Co. caused its convertible IS Of
1854 to attain new maximum levels.
Goodyear collateral IS f1rmed up. News
from the steel and metal trades lifted
National Steel IS, Otis Steel first IS,
youngstown Sheet & Tube SIS and
American Smelling IS. On this bulge
some of these bonds attained new high
prices.
Communication securities, as Postal
Telegraph IS and Western Union 61zs,
both at new peaks, featured Public
Utilities in the first few hours. Later
Western Union SIS and International
IeepnOne ft2S ana oS were taken up,
but the high grade debentures, like
American Telephone IS and 51as, in
clined to heavineSs.
South American loans, again led by
the Argentine group, displayed the
most uniformly upward tendency in the
foreign division. japanese securities
dominated movements in the Far
Eastern group. After early steadiness,
Peruvian loans wavered, following the
assassination Of the president of that
country and subsequent declaration Of
martial law.
The smallest declines in United States
Governments were recorded in Treasury
ments maturing within the next IL
months amount to So, ,424 ,026, 100. being
chiefly in of the form of Treasury GER
tificates Of Indebtedness, notes and nom
interest bearing bills.
Evening star., 1933-05-01
Bid and Asked Prices.
BONDS.
PUBLIC Utility.
MISCELLANEOUS.

Barber 4 Ross. Inc. 6hs... 55 :.
Chevy Chase Club 5,as. .u:. 99 :;
D. c. Paper Mfg. IS. .. 10 =.
w. M. Cold Storage 5s. go. 30 ..
Evening star., 1933-05-01
CURB SHARES RISE
+ IN ACTIVE MARKET
List Absorbs Heavy Profit
Taking as Advance
Is Continued.
BY JOHN A. CRONE.

Special Dispatch to The Star.
NEW YORK, May 1.-Stocks scared
to new highs ON the Curb Exchange
today.
After the market had opened higher,
there was a pause. A reaction followed.
Subsequently a rally set In around mid
day. Electric Bond & Share was up
fractionally, along with American Gas
& Electric, American Light & Trac-
tion, American Superpower, Atlas Cor
poration and many others. Cities Serv-
ice and Standard Oil of Indiana most
of the time were lower.
Constructive developments in the
steel industry, where operating rates
have more than doubled in recent
weeks, in grains, where Farm Board
wheat no longer hangs over the market,
and In general trade, where wholesalers
and retailers are both reporting in
creased sales, furnished the back
ground for the advance.
The pause that came shortly after
the end Of the first hour was more In
the nature of technical hesitation.
It was followed by brisk bidding for the
power and light issues and q general
resumption of the rise over broad
front.
kJoulC VI VIC A1CW PCdhO dtLo4lC0 vi
the midday rally were Deere & Co.,
Safety Car Heating & Lighting, Singer
Manufacturing, Roam Antelope, Cord
Corporation, General Aviation, Atlas
Corporation, United Shoe Machinery
Montgomery Ward, Insurance Co. OF
North America, Canadian Marconi
Fajardo Sugar, Dow Chemical, Pep
perell Manufacturing, Seeman Bros,
American Maize, Joseph Ryerson, Amer
ican Laundry Machinery and Parker
Rust Proof.
The bettered grain situation at once
affected implement and farm machin-
cry manufacturers, users of grain, hold
ers Of milling patents and mail order
shares. Later the meat packing issue.
flrmed.
United Verde Extension touched a new
high after it announced March output
Of 3,013, 1873 pounds Of copper against
2,7l0,020 in February and 3,0l4,232 in
January. The report of Railway &
Light Securities Co. had been forecast
marketwise Saturday. Parker Rust
Proof was helped to its new peak BY
the declaration Of the regular common
quarterly dividend American Light &
Traction sold OF on its unfavorable IL.
month income statement.
Generally, however, specific stock.
brushed aside corporate developments
in favor Of market or broad business
trends. Strength in cotton goods, fol
instance, bettered Pepperell Manufac-
turing.
Evening star., 1933-05-01
Grain Market
BY the Associated Press.

By the Associated Press.
CHICAGO, May New jumps In
wheat values today took the market
Z cents a bushel higher than Fridays
low point and we'll above Saturdays
big rise. but heavy selling led to reac-
tions. Near the close, prices averaged
lower than Saturday.
Unabated interest was shown by
grain traders as to imitation develop
ments at Washington, where the House
was to consider amendments to the
administration farm bill. In some
quarters disposition was evident to
take more notice of the farm bill itself,
with its various novel features, and
doubt was expressed as to whether,
aside from imitation, the bill would
prove bullish or bearish.
Wheat closed nervous, Nan under
Saturdays finish; corn n of to "a up,
oats, ba3s down, and provisions show
ing to 10 cents decline.
Evening star., 1933-05-01
New York Cotton

Special Dispatch to The Star.
NEW YORK, May 1.-The advance
in cotton was resumed today and all
months sold above the Scent figure,
with October Of the new crop at 8h
cents. Enormous trade and speculative
buying swept over all three markets,
ana, absorbing liberal proft-taking,
prices closed with a gain of 80 to 81
points on the Gay. Spots were ad-
vanced IS points to 825.
Cotton range:
Evening star., 1933-05-01

Dividend rates in dollars based on last
quarterly or semi-annual payment Sex
dividend. fPartly extra. tPlus ~ in stock
a. Payable IN cash or stock. Payable in
stock. Adjustment dividend. Plus So
in stock Plus go in stock. Plus IL
In stock. Plus 90 in stock. Plus l0%
in stock. m Plus 80 in stock. n Plus So
in stock p Paid last year-no regular rate
Evening star., 1933-05-01
Washington Stock Exchange

SALES.
Potomac Electric 6% pfd.-1 at 108Z.
Capital Traction Cos at 6.
AFTER CALL.
Mergenthaler linotype at 25. at Is.
Washington Rwy. & Electric pfd.-10 at
80l4, at 80H.
Evening star., 1933-05-01
POTATO MARKET.

CHICAGO, May R.-CU. S. De-
partment Of Agriculture) - Potatoes,
18l; on track, 300; total U. S. ship
ments Saturday. 78o; Sunday, 4S; old
stock dull, trading rather SLOW, sup
plies liberal; sacked, per 100 pounos,
Wisconsin round whites, 67l2a7212;
Minnesota, 65a671a; few 70; Idaho
russets. 1.25a1.35; mostly 13Oa1 .321a;
new stock, steady; trading moderate,
supplies moderate; Bliss triumphs. Tex
as large, 2.35a2.45 small to medium,
2 .00a2.20; Louisiana, 175a2.00; feath-
cry and dirty, 1.50al.65; No. 2, 1.10a
lis.
Railway & Light Securities Co. liqui-
dating value on March 81, was $399 q
common share VS.. $9.81 on December 81,
1882.
Evening star., 1933-05-01
Markets at a Glance

NEW YORK, May R.-stocks
rregularly higher; bulges meet profit
taking. Bonds firm; secondary issues
strong. Curb irregular; industrials
strong. Foreign exchanges firm; sterling
advances. Cotton higher; firm cables;
trade and commission house buying.
Sugar steady; Wall Street buying. Cof-
fee higher; trade buying.
Evening star., 1933-05-01
Steel Plant Extends Schedule.

BIRMINGHAM, Ala, May l (P.-
mately 400 men back to work Monday.
Offlcials announced from 40 to so would
be employed at the furnace and about
$50 at ore mines idle nearly a year.
Evening star., 1933-05-01

REAL estate NOTES YIELDING 81
4NIEREST TYLER AND RUTHERFORD.
INC. First trust notes well secured on
detached. modern residences. for sale at
1890 K st. NV. Ma O47S
Evening star., 1933-05-01

CHICAGO. May OP.-Wheat lower;
farm bill uncertainties. Corn unsettled; !;
shipping demand SLOW Cattle, steady to
weak, better grades showing weakness.
Hogs, steady to 10 higher; top back
fO "a
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
Man Caught
In Railroad
Train Plot
Truck. Dripey Is Accused Of At.
tempting To Extort SIS 5000
From Pennsylvania

Philadelphia.-A bizarre, twen-
ty-day campaign to extort SIS ,0Oo
from the Pennsylvania Railroad
under threats of blowing up pas
senger trains is over and James
Vanderslice, 81, a pale, undersized
truck driver, faces prosecution as
its author. $50 -a. eL t...
I. He was captured in the climax
to days of effort by police to traE
the writer of a~series of letters
which threatened wholesale des-
truction of trains and which caus-
ed a heavy guard to be placed
over W. C. Higginbottom, general
manager of the roads Eastern re-
gion. $500 az ,
Police said Vanderslice made .
complete confession in which h
declared his a bluff
and made only to obtain funds tt
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
SAVINGS BANKS

We are informed on good auth
ority that not a single savings bank
of the mutual" or trustee type
has been compelled to close its
doors, while other types of banks
have been failing by thousands. 1t
is reported, moreover, that there
has been a steady growth in rne
volume of deposits in these mutual
banks, which are the type found
principally in New England, New
York and Pennsylvania.
d In those and some other states
the word savings" cannot be used
by any other type of institution.
Savings banks are non-proht-mak-
ing organizations with the ablest
business men of their communities
sgsszss sa44gs1 al. s=1
rs trustees, without pay, investing
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
n Lang; / 4,
what it willlearn J

what it viii earn /,
What is good farm land worth?
An English friend told me not long
ago that the -best~land~in England,
where the average production Per
acres of allacropssis much higher
than in America, the markets are
at the door, the growing season is
longer and the climate generally
more favorable, can be bought for
500 or less per acre, when it can
be bought at all. With an expe-
rience of two thousand years be-
hind them, English farmers are
pretty likely to know what values
are.
I doubt whether any land in A
merica can earn interest on a very
much higher valuation than that,
except in a very few highly favor
cd spots and then only by inten-
sive cultivation Of high priced per
;shable fruits and garden truck.
One Of the principal causes of
much Of the present trouble of
farmers is that they paid, or prom
ised to pay, more for their land
than it was worth, and their mort
cages represent more than the &C
tual value.
Land, like anything else, is
worth only what it will earn.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26

the deposits with tie greatest care :s1x:
safety first, and paying*'ee de-
positors as dividends what their
money actually earns.
There is. a movement on foot in
many states to adopt the mutual OF
trustee system Of savings banks
and bar all other forms of savings
institutions. We think that is a
step in the right direction. There
is also a movement In Washington
to bring the mutual savings banks
Into Federal Reserve system, thus
further strengthening them. We
think hat ought to be done.
How far the Government ought
to go in charging the postal saw
ings system is another matter.
There is talk in Washington of
changing the postal savings act to
cut off payment of interest on de-
posits. That will have a tendency
toward driving poor depositors out
Of the postal banks into privately
operated banks, or dangerously
boarding their savings. at home.
We think no such step should be
taken until all the savings banks
.cf the country have been placed on
she trustee system under the strict
est control.
A better plan, it seems to Us,
would be to increase the number OF
post Offices authorized to accept
postal savings deposits and raise
limit which one deposition might
have from the present $500 to, say
$4,000.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
Original Deed Of
Geo. Washington
Property OF State

The original deed which convey
ed approximately 1908 acres of
North Carolina land to George
Washington in 1776 is now the
property Of the North Carolina
historical commission. 1s
. The deed was executed by Mar
madukes Norheet on April rs, 1856
to George Washington and Field
ing Lewis, gentlemen Of Virginia
for four parcels of land in Perqui-
mans and Chowan counties. The
purchase price was 1900 current
money Of Virginia. ~ s~%
The deed, in a perfect state of
preservation, is in an old skin
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
FRIDAY, MAY 26, 1855
MEMORIAL DAY

On May 50th it is the custom
throughout most of the United
States to observe the day as a me-
mortal to the heroes Of our nation
who gave their lives for its defens
In many states this or some nearb"
date is observed as a memorial TO
the soldiers of the Army of the
Corfeder1cy who, no less than
those Others, made the supreme
sacrifice for the cause in which
they believed.
1t is meet and proper that these
gallant dead, whether they wore
Khaki OF blue or gray, should be
held forever in fond remember
ance. For they were brave men
who did not hesitate to risk their
lives that their beloved homeland
might live.
But it is also meet and proper,
it seems TO US, to consider whether
the youth Of today are as ready as
these sacred dead were, to fight and
to die, if necessary, for their prin-
ciples. We seem to sense. a slack
eni7g among the youth of our
land OF the fervent patriotism
which was Americas chiefest glory
in the days when our nation was
younger. We hear young men say
they would not risk their lives for
their country, as their fathers did.
We have noted the polls of stud
ents in our great universities in
which an appalling number have
declared that they would not take
up arms in defense of America.
If such a feeling is general a.
mong the youth of III land, then
it is a far more serious matter than
mere unemployment or financial
distress. If through some failure
on the part Of our institutions, our
schools, our churches, our home
training, we are raising ; genera
ton which feels no such devoco on
to the principles of liberty and &c
dependence as once made every
young American eager to go to
wal in their defense, then our ma
ton is in a sorry case.
We do not believe that such a
spirit prevails generally. We do
not believe that the young men Of
America have become so infected
with the germ of internationalism
that they no longer look upon their
own country as the greatest, the
los glorious, the finest, place in
the whole world. :
Many will be the prayers offer
ed On Memorial Day at the graves
of those who died honorably OH the
field of battle. Let it be the ferv-
ent prayer of every true American
on that day hat the honor which
finds expression in unseItish self
sacrifice for country and for prin-
ciple may not perish from those
who are to take our places.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
JOBS FOR HUSBANDS

/. A curious development of the
patronage situation is the demand
Of many prominent women lead
ers for jobs for their husbands. At
least six of the women prominent
in Democratic national politics
have succeeded in landing their
mates on the public payroll. There
are more to cone
This certainly will enhance the
attractiveness of politics for both
men and women. Men will ha e
two chances for appointive office,
one on their own account, and the
other on account of their wives
prestige. &
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26


=
Suddenly DIFF" ,sked n
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
DIRECTS VALLEY PROJECTS

Arthur E. Morgan, for - years
president of Antioch college in
Ohio and a national authority or
flood relief and control, has been
named by President Roosevelt as
chairman Of the commission which
will complete Muscle Shoals power
plant and will cover the Tennessee
river valley with a great power and
forestation project.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
LIQUIDATORS FOR THREE


Banks Commissioner. Quincy
Hood has appointed Smith Medlin
liquidator of the N. C. Bank and
Trust company, S. ]. Hinsdale for
the Page Trust company and W.
B. Tyer for the independence
Trust company, these three to
clear up the affairs of three banks
pending their proposed organize
ton into a new bank serving 50
communities in the state.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26

bound volume of Perquimans deeds,
1762-1776.
Washington's diaries show that
in 1865 he became interested in re-
claiming lands in the Great Dismal
swamp and in opening a water
communication through the swamp
between the rivers flowing into
Albemarle sound in North Caro-
lima and Elizabeth or Nansemond
river in Virginia. He invested
money in the projects and made
several visits to the region.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
OWES BIG SUM

Nashville, Tenn.-By July
Tennessee will owe s. counties a
total Of s6,92S,331.42 for school
purposes alone, Comptroller Roy
C.. Wallace estimated for the state
bankers association committee
considering hotation of the state
$4,000, 900 deficit bond issue.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26

GOVERNOR =. Federal Reserve
In picking Eugene Black of AT
lanta for Governor of the Fedora.
Reserve Board President Roosevelt
has followed the example of his last
Democratic predecessor in select
ing a man from the South to head
up the nations financial system. ]
am one of those who believe that
the late W. P. 6. Harding of Ala
bama was the best mar who eve,
held the pest to which Mr.. Black
has been appointed.
Mr.. Black was picked, | am told,
mainly because he is entirely fres
from Wall Street influences. He
has a bigger and more important
task than any of his predecessors
had, since it is on the cards, | be-
lieve, that the entire barking sys-
tenn of the nation will be taken
into the Federal Reserve System,
and the head of that system will
exercise financial control even
greater shan that Of the Governor
of the Bank Of England.
Unlike many bankers, Nj. Blach
has a sense of humor. But his rcpu-
tation for sound, homely common
sense is Of the highest,
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26

support his undernourished wife
and three children. Vanderslice
said he had been unemployed for
eighteen months.
The suspects arrest came as he
reached into a parked automobile
in which officials had been in
structed to leave the money.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
OMMENT
4

The Editor:
The 'girafe-necked woman"
featured in this seasons circus
ballyhoo, surely ought to make a
hit with the female Of the species.
most of all Of whom, so far as
can make out, would like to Be-
necked by a giraffe.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26

For an absent member of the
Iansily; fos tbes Carolina
Waterman, $1.00 q year.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
MILLION DOLLAR SALARIES

MILLION DOLLAR SALARIES
A stockholder in a large corpora
ton is bringing suit to obtain ?
court decree to restrain the COM
pany from paying big salaries and
commissions to its officials. Some
Of these salaries range from $780,
600 to over 100000 i year.
A few years ago, when profits
were tremendous and dividends
correspondingIy high, there was
little criticism against these big
salaries. In some instances, at least,
the increased profits were appar-
entity SO directly the result of the
genius OF the high-salaried officer
that even the princely salary Of
S2,o0o,ooO seemed justified.
+ Nov, viii profits down and
dividends reduced or omitted, the
big salaries are targets to shoot at.
Stockholders regret the compac-.
they entered into years ago, or ne1,
stockholders have taken the pIa,t
of the original owners and they are
demanding a new deal.
1t will be interesting to get a
court opinion on the mattel.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
ROCKEFELLERS they mov

Times change and landmarks
pass. The Rockefellers, father
and son, are moving from the his
toric address "26 Broadway" to
the new Rockefeller Center, five
miles up town. For more than
fifty years 20" has been the head
quarters of the Standard Oil inter
ests. Nobody knows how many
millions have been made there, but
probably enough to pay Jul ma
rional debt, if the men who made
it had kept it.
The Rockefellers don't keep
their money. They spend it largely
in vast enterprises for the public
welfare, education, health and the
restoration Of historic antiquities
John D. Rockefeller, Jr., is IN
The limelight JUST now because he
objected to Communist propagan-
da being put into a mural painting
by Diego de Rivera, the Mexican
artist who had been engaged TO do
some work in the Rockefeller Cen
ter. Some Liberals are making
ia great fuss, saving that Mr.. Rock
efeller is no judge of art. That
may be true, but wouldn't he looi.
foolish promoting Communism?
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26

And they called T. R. a rough
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
GOLD since 1898

According to the United State
Bureau Of Mines all the gold that
has been mined in the world since
any kind Of records have been
keut; that is, from 1873, the ycal
after Columbus discovered Amer
ica, down to date, amounts to :
little over a thousand million
ounces. At $40 an ounce hat is
worth twenty billion dollars anc
more than half of it is still in tht
form of money or gold bars hcld II
banks as security for money. ~
In the United States, since 1872:
we have mined about .225 million
ounces, worth above $4,600,00O,-
GOO; and that, curiously enough
is just about the amount of none
tary gold still in this country.
In the same $50 years of golc
production the amount of silve,
mined in the world was a fraction
more than fifteen thousand million
ounces; and the ratio of silver tc
gold in the worlds monetary sys-
tenn before silver was dropped by
one country after another, w.
just about fifteen to one.
Silver is coming back as money.
but it is more likely to arrive at 1
ratio Of about twenty or twenty
five to one than the traditional.
sixteen to one" of the old Popu-
list days. &
500 \ -. T. Y a sa Al
POPULATION needed growth
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26

The legal beer we now get, |
think, compares very favorably
with that made in Europe, such as
| had an opportunity to taste two
years ago on "trip extending from
the south of Spain to the north of
Scandinavia.
Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1933-05-26
BEER DE-
Tended BY AN EX1pE

To The Editor:
The complaints made about the
quality of beer may be to some ex-
tent caused by the jaded taste:
which is the result of the strong.
irritating drinks of the prohibition