davidaulloa/AmericanStories huggingface dataset:
The Bismarck tribune., 1933-03-18
By W. r. RONALD

Washington, March l8.-(R-WhaL
the administration farm bill means to
the farmer is that the secretary Of
agriculture can proceed by any one
Of several methods to bring prices Of
farm products back to pre-war ex-
change value.
While that means such prices as 95
cents for wheat, $3.50 for hogs and II
cents for cotton, it also Is true that
the consumer will have constant con-
sideration.
While this flexible plan Of dealing
with the complex problem Of elevat-
ing prices OF various commodities in
accordance with their peculiarities ap-
pears to contemplate all sorts Of
methods. the probability Is that the
secretary Of agriculture will proceed
for the most part along one Of the
three following lines:
First - Marketing agreements with
professors and distributors.
Second - Compensation to farmers
reducing production. such compensa-
tion to be financed by tax on proc
essing.
Third The Smith option plan to
help cotton prices by reducing aceage.
Since the secretary has already an
nounced that he would call In repre-
|sentatives Of both producers and proc
essors Of any commodity before deter
mining upon any plan as to such COM
modify, it Is probable that the posi-
bilities Of marketing agreements viii
be given first consideration. In the
case Of dairy products, for example.
that might provide some orderly han
ding Of storage so as to stabilize
prices.
Cut Wheat Production
As to crops. particularly wheat, the
second method Of procedure IS alto
gether likely. Principles Of the orig
inal allotment plan would be employed
to apportion returns from q tax on
milling. but the division would be
called . rental instead Of an auot-
ment.
Past production would be the basis
upon which the apportionment would
b made: First to states, then to
counties and then to farms. In order
70 ISSUOgS lU4l PISeW0I CAC11au80 V&luS
to wheat. . tax Of probably 60 cents
|per bushel would be collected on al
domestic consumption. Il farmers
share Of this domestic consumption 4
1000 busl1els. then he would receive
$500 Is rental for any portion Of land
diverted from the production o!
wheat. It would be effective in re-
ducing acreage because the non.par-
ticipant would receive only the open
market price and therefore would mol
have any inducement to increase hil
acreage.
BY some such device q basing any
program Of acreage reduction on yield
the percentage Of low-yielding mary
inal land retired from productiog
would be greater than that IN ths
moro fertile Tegio0R
A. to cotton, It d virtually under
stood that for this year the emitl
loption plan would Be employed. Plant
ers would Be given options on fut,u,
CONTINUED "a 1oee Throe)
The Bismarck tribune., 1933-03-18
AIRED Local Woman
Dies After Stroke

Mrs. Jane Johnson, ~ years old.
died ct 2:30 o'clock Saturday after
noon ct the home Of her daughter,
Alrs. Mary Ryan. at 80 Main avenue
west.
1lrs. johnson suffered = paralytic
stroke two weeks ago and had failed
gradually since.
She had lived In Bismarck about
Is years.
Though funeral arrangements have
not been completed, 1t Is announced
that her body win be buried at LAns-
ford.
The Bismarck tribune., 1933-03-18
VIEW THAT j. s. Will
GRANT RECOGNITION
TO RUSSIA GROWING
Roosevelt Declines to Discuss
Subject But Preliminary
Moves Are Noted

washington, March lS.-iFePresi-
dent Roosevelt declines to make any
statement about the attitude Of hi
administration toward Soviet Russia
but the opinion - growing In some
Washington quarters that American
unfriendliness for the Moscow regime
is lessening.
There likewise Is belief here that
Norman H. Davis may talk with
Maxim Litvinoff. the Soviet commits
sar for foreign affairs. ct Geneva.
Once the Ice Is broken. American
advocates Of Russian recognition be.
lieve the reestablishment Of relationi
between the two nations might speed
lily follow.
American cotton growers. splnnera
and manufacturers Of machinery an
showing much eagerness to regain
Russian markets. With 100O00.O .O0(
inhabitants, Soviet Russia Is tempt.
ing area to economists who are seek.
ing fields where American productl
can be placed through tariff trades.
Davis goes to Geneva as American
chairman with the rank Of amba&se-
dor. He will be the representative ol
the president and win enjoy ambas.
sadorial rank without al the diplo.
matte handicaps Of an ambassador
assigned to . definite sovernmental
post.
All the leading powers Of Elrops
now have ambassadors at Moscow
Many Of them had much larger
claims against the Moscow govern.
ment for the confiscated property o1
their nationals than the United
States.
Alfred Z. Smiths recent declera.
tiou in favor Of Russian recognition
stirred Russia's advocates In congyes-
sional circles to renewed activity ant
they are urging that 4 new deal b
given the Soviet regime.
SOVIET TO PROSECUTE
FOUR BRITISH 0U0JECTS
Moscow. March l8.-R1Dritist
subjects charged With "wTecking -.
tivities" In connection with theil
work On electrical projects IN Russil
win b subjected to . public tzaa'
within . month.
Protests Of the British government
were ignored BY Soviet authorities r.
making the decision. A government
4 <statement said mo pressure o. men.
ace" from Great Britain would dis.
suade It.
Thirty-five other employees Of TIL
Russian branch Of the British Net.
ropolitan- Vickers Electrical company
CONTINUED on pago Three)
The Bismarck tribune., 1933-03-18
10 BURY AGED vETERAN

~ 0O6B AODO v91D16z0N
Milwaukee, March lS.-(ReWhile
military organizations and the Ma
sonic lodge planned impressive fu-
neral rites. the body Of 1rig. Gen,
Charles King, q, veteran of five wars,
lay In state Saturday. he died ri
day.
Born at Albany. n. r. 0ct. -, 1914,
General King began his military
career II tho Civil war, serving - Z
uaAsseneer to his father. Brig. Gen
Rufus King.
The Bismarck tribune., 1933-03-18
japanese Patrol Is
Wiped Out in China

Tokyo, March 18.-(R-A Regno
(Japanese) news agency dispatch
from Hsinfengkow, great wall passage
where heavy sino-Japanese fighting
has been going on for days. said Sat-
urday . Japanese patrol was annihil-
ated at nearby Fanchiakow Friday.
It fought . superior force Of Chinese
until all the japanese were killed. the
dispatch said.
Another Japanese patrol found the
bodies. The dispatch did not say how
many died.
The Bismarck tribune., 1933-03-18
EDITOR TELLS HOW
farm RELIEF PLAN
WOULD RAISE PRICE
South Dakotan Says Many
Methods Are Available to :.
Bring Desired End

The following explanation ol
the Roosevelt farm bill was writ
ten for the Associated Press BY
w. r. Ronald. chairman ol the
committee Of farm organization
leaders who presented the pro-
posal to the pl esident. Ronald y
publisher Of the Mitchell, S. D.,
Evening Republican,.
The Bismarck tribune., 1933-03-18
HALT TRADE WITH ENEMY

Peiping, March lS.-(R-A sharp
outbreak Of terrorism by Chinese
against countrymen suspected Of
maintaining commercial relat o n 8
with Japanese firms was reported
here Saturday from Hankow, impor-
tant treaty port Of Hupeh province.
The Bismarck tribune., 1933-03-18
House Committee Studies Farm Relief Bill
State Beer Bill Will Become Law JULY
~ Road Department
Workers Discharged

Drastic Economy Given As Reason for Wholesale Dismissal in
Highway Offices; More Heads Fall in Basket
As vogel Begins New Activities
The Bismarck tribune., 1933-03-18

Partly cloudy tonight and Sunday:
no decided change ii Temperature.
Evening star., 1933-12-13
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS.

NEW YORK, December 13.-Follow-
ing is today's summary of corporation
news prepared by Standard Statistics
Co., Inc, New York.
Ainsworth Manufacturing Co. de-
clared a special dividend of so cents
on common stock; last previous dlstrl-
button on common was SO cents a share
on March Is, 1882.
Chicago Flexible Shaft Co. declared
dividend of 26 GIG cents on capital
stock; last previous distribution was Is
cents a share on october l, 1881.
Armour & Co. Gllinois) President
said management has not formulated
any plans for readjustment, although
it is contemplated such plan will be
proposed, it will be some time before
it will be possible to determine details.
Hiram Walker -Gooderham & Worts,
Ltd.-Peoria plant of subsidiary is turn
ing out 1000 cases Q2-quart each), of
gin and blended whisky day and ex
poets to have production up to 1000
cases day shortly.
Chicago g. North Western Railway
November net income estimated at
around 100000 VS.. deficit of S160,539
in November, 1882; deficit after charges
for November expected to be less than
81 ,000,0 against deficit of $1,280, 1888
year ago.
Delaware, Lackawanna & Western
Railroad deficit, 10 months ended
October 81, was s2,5so,492 VS.. deficit
$2,188,376.
Byers CA. M Co. deficit, IL months
ended September 80, was S1,044 ,056 VS..
deficit 1922 1853.
West Point Manufacturing Co.-Un-
filed orders as of December l equal to
three months full operation; during
fiscal year ended October %, looms
were run at 100 per cent of full 55-
hour weekly capacity. compared with
74.2 per cent In preceding year.
Evening star., 1933-12-13
ELECTRIC POWER
OUTPUT CLIMBS
Gain Over Previous Week Contrasts
With Stationary Total of
Year Ago.
By the Associated Press.

By the Associated Press.
NEW YORK, December 13.-Electric
power output last week amounted to
1873, $4,000 kilowatt hours, against
1858, ,744,000 IN the week ended De-
cember 2 and ISIS, 1922 900 in the cor
responding period last year, the Edison
Electric Institute reported today
The increase over the previous week
was substantially larger than that
recorded for this period year ago
and contraSted with an almost sta
tionary outturn during the two weeks
of 1881.
In comparison with the 1892 period
the weeks production was up Sc per
cent. A week earlier the institute COM
puted the increase on the basis of fig
ureS for the two weeks ended December
2, due to the incidence of the Thanks
giving holiday in different periods. This
gain amounted to So per cent.
In the New England region produc-
tion as up ga per cent, against 6.8
per cent in the previous week Middle
Atlantic, up So, against g.: central in
dustrial, up 8.8, against 80; West CEN
trail. up 0.8, against 05; Southern
States, up 0.5, against a decrease Of
0.4; Rocky Mountain, up 81. against
30.3; Pacific Coast, up 80, against 4.7.
Evening star., 1933-12-13
STOCKS SELL OFF
| AS TRADING LAGS
Utility Shares Resist Trend,
but Other Groups Go
Slightly Lower.
BY VICTOR EUBANK,
Associated Press Financial Writer

NEW YORK, December 13.-Stocks
turned quietly lower today under a
trickle of selling that extended into
the dealings. Utilities and some of the
communication shares were resistant
but industrials and rails eased frac-
tions to more than a point Consolf-
dated Gas, International Telephone and
Western Union were steady, but Santa
Fe, American Telephone, United States
Steel and Chrysler sagged. Transfers
approXimated 100000 shares
The dollar cut no unusual capers in
foreign exchange dealings, IS the do
mestic gold price again was urcbape6d
but 1t moved up more than 2 cents in
terms of sterling and around .04 Of a
cent in relation to the franc. Wheat
sagged about cent bushel at one
time, and other cereals were moderately
lower.
Utilities Improve.
Utility company shares, Including
those of Consolidated Gas, Public Serv-
ice Of New Jersey and North Arneri-
can, improved fractionally to around a
point. Postal Telegraph preferred, In
ternational Telephone and Western
Union were slightly above water. Among
losers OF about point we're Eastman
Kodak, Armour preferred, Columbian
Carbon and Johns-M -Manville. American
Telephone, U. S. Steel, Allied Chemical,
American Can, Chrysler, New Yark Cen
trail. Santa Fe, National Distillers and
similar leaders were unchanged to a
bit lower.
Although brokerage houses reported
optimistic sentiment was still in the
ascendant, they also found that traders
were exhibiting considerable caution be-
cause of the belief in some circles that
some sort Of a technical reaction was
due before the advance could be resumed
on broad scale
Various chart readers and market
analysts were advising a side-line posi-
ton for the moment, but the majority
were still bullish for the advance after
temporary adjustment. Just how far
a technical reaction might carry was
a matter of much discussion.
Trade Upturn Cited.
Some observers believed there might
be only slight setback, or none at all.
These pointed to indications that the
economic picture is growing daily
brighter.
Followers of the communications
stocks were interested in the news from
Washington that the special Interde-
partmental Committee had submitted
report to the President which, as to the
telegraph companies, favored a monop-
oily under strict Federal regulation.
Regarding the Western Union-Postal
phase, the committee considered three
possibilities: First, the present status
would be permitted to continue: second.
a strict Government monopoly, and,
tnlrd, Government ownership.
Evening star., 1933-12-13
NEW YORK BANK STOCKS

the-counter market:
Quotations as of . o'clock)
Evening star., 1933-12-13
BONDS TO BE RETIRED
BY C0NGOLEUM-N -NAIRN
By the Associated Press.

NEW YORK, December 13-Drec-
tors OF Congoleum-Nairn, Inc, have ap-
proved plan to retire on March l next
s952, 700 first mortgage per cent bonds
OF the Farr & Bailey Manufacturing Co..
a subsidiary, and the S1,002, 500 par
value Of the Congoleum Co.'s z per
cent preferred stock. The redemption
price OF the bonds is 1861 and on
tne preferred stock SLOT, making a cash
outlay of S2,087, ,407.
Evening star., 1933-12-13
LESS CRUDE RUBBER
USED DURING NOVEMBER

BY the Associated Press.
NEW YORK, December 13.-Con-
sumption of crude rubber by manu-
facturers in the United States during
November amounted to 29,162 long tons,
the Rubber Manufacturers Association
reported today. This compares with
31,906 tons in october and 23,231 tons
In November, 1882.
Evening star., 1933-12-13
ARGENTINA SELLS WHEAT.

BUENOS AIRES, December 13 R.-
The Argentine government sold yester-
chester the first lot Of wheat bought at
fixed prices through the recently -estab-
lished Grain Regulation Board. Details
Of the transaction were not made public.
Evening star., 1933-12-13
SHORT-TERM SECURITIES.
Reported. .by Chas. b. Rarnev 4 la

N'epor'ec~by Chas- D Barney & Coz
Allis- Chalmers Co. SIS 1887. SOS. On
American Beet Sugar 6s 1898 72io "a
amer. Tel. & Tel. 5i2s 1913 lO53. 1057.
am Wat. Wks. & e.. IS 1894 96 az
Beldlng Hemingway IS 1886 g6 J0oX
Bethlehem Steel Co. 5S 1886 g734 qS
California Packing 5s 1910 S7& 81
Canadian Nor. Ry 4l5s 1875 10oIs 10Sa.
CheSa. & Ohio RWy. IS 1899 l05it 106
Chi. Northwest Ry. Gas 1896 16i. -
Chicago Rock Island As 1884 30Is -
Colorado & So. Ry. 4l2s 1885 TS3e Tdi.
commercial Credit 5lzs 1885 1OII4 I0Iia
delaware & Hudson 5s 1885 "a oR
Den. d Rio Grande las 1886 As II
EDISON Elec. Illum. As 1888 100 I00K
Gen. Petroleum Corp. IS 1910 IO3 lO31s
Gen. Public Service 512s 1929 rosa S0io
Grand Trunk Canada 6s 1896 I03Is l025a
Great Northern Ry. IS 1886 S41s S51s
Illinois Cent. r r. 61ss 1896 81 50
Keystone Telephone IS 1895 7l54
Laclede Gas Light IS 1894 S334 SO
Lake Erie & w R. R. 5s 1887 20 S5
Louisville & Nashville 5S 1897 1n234 104I.
New York Cent. g. II. Is 1884 S012 81
N. Y, Chi. & st. l. is 1887 SIZE SI7.
Northwest. Telep 4i2s 1894 % 100
Penna. P R Co. Gas 1896 lO2 I02t,
Portland Gen. Elec. 5s 1885 rs 7aI2
Republic Iron G. Steel rs 1910 S3l2 IS
Sinclair Cons. Oil Co. rs 1897 lO2ia 1921
Southern Pacific 5s 1884 9OI5 n3
Union Oil Co. Calf 5s 1885 IO0se I0I
Virginia Ry &, Power 5s 1894 9q12 100
Wabash Rwy. Co. 5s 1892. 6s 6s'1
Evening star., 1933-12-13
o. S. TREASURY CERTIFICATES
(Reported BY Chas. D Barney & Co..
CUT IN STOCK PLANNED.

NEW YORK, December 13 R).-The
New York Stock Exchange has received
notice from Spear & Co. Of a proposed
reduction in authorized preferred stock
to $1,000, 900 from S4,300,000
Evening star., 1933-12-13

SILVER QUOTATIONS.
NEW YORK, December 13 R-Bar
silver barely steady, Il lower at 421z.
Evening star., 1933-12-13
MONEY MARKET.

NEW YORK. December N13 LP.-cau
money steady; per cent all day. Time
loans frmer; go days. 1a1A; 90 days. 1ai "a:
4-5-6 months. 1Aa1h per cent. Prime com,
mercial paper. ia. Bankers acceptances
unchanged.
The Chapel Hill weekly., 1933-03-10

paying today, with the result
that their very existences and
those of their families are being
jeopardized by these continuing
payments for stock now worth
less than $50 a share-payments
which they dare not suspend lest
they lose all their savings. No
moratorium for them. No loans
to help them carry on, Indeed,
lit was admitted that their only
way of getting out of these pay
ments was to give up their jobs.
They are just clerks, and the
National City Bank has plainly
existed not for them or their in
tereSt, or for anybody else ex-
cept the insiders.
The head and front of this
offending is Charles E. Mitchell.
whose resignation, promptly Of
fered, was promptly accepted by
the directors. 1t now appears
THAT the privilege of having him
act as chairman of the bank and
of the affiliated National City
Company cost the bank in bonus
es about $3,5O0,0O0 for the years
1927, 1923, and 1929. in addition
to his annual salary of S25, 900.
In other words, he drew sal
ary of nearly $1,200,0O0 a year
the President of the United
States receives $4,000 a year
for conducting the affairs of the
great American nation. But
more interesting things came out
about Mr.. Mitchell. In 1929 he
sold to a member of his family
$4,000 shares of his National
City Bank stock at loss of
nearly $2,8OO,000, which enabled
him to avoid paying any income
The Chapel Hill weekly., 1933-03-10

not merely as bankers, but as
human beings.
eve refer, of course, to the
loan in 1929 to themselves by
the officers of this bank, the
second largest in the world, of
the sum of S2,4O0,0O0 to enable
them to carry their commit
ments for the purchase of stock
of the bank when the stock
market crash had jeopardized
their personal finances. This
loan was made without interest
to some one hundred of the
leading officers of the bank and
the affiliated National City Com
pany, and only in a few cases
did these officials offer adequate
collateral. Only 5 per cent of it
has been repaid. The utterly
reprehensible character of this
transaction is thrown into clear
er light when one adds the
deadly fact that these same Of
ficers then proceeded to sell out
hundreds Of the customers of
the bank when the collateral adj
Ivanced to cover their commit
ments in the stock became in
adequate. Moreover, the clerks
of the bank, who had been urged,
and in some cases really driven,
to purchasing the bank stock at
200 or 220 lest they lose the ia
vor of their superior officers,
were given, and have been given,
no aid whatsoever by the bank
in carrying the shares they
bought on the instalment plan.
On these thousands of them are
The Chapel Hill weekly., 1933-03-10

When President Roosevelt
spoke of "the money changers
in the temple" in his inaugural
address, of course he was allud-
ing to all financiers whose reck-
lessness and dishonesty had
brought calamity upon the ma
ton; but the phrase was con-
nected, in the public mind, par
ticularly with the officers Of the
National City Bank whose mis-
deeds had been brought to light
only a few days before by the
Senate banking committee.
\ The scandalous performances
of Charles E. Mitchell, the presi-
dent, and his associates, Messrs.
Baker and Rentschler.- were re-
%Eealed in the course of hearings
running through several days.
From their complex nature it
was difficult for the average
newspaper reader to understand
them clearly. The most easily
understandable summary of the
testimony of these financiers
that we have seen is contained
in the following editorial in the
Nation:
For brazen disregard of the
rights of the lawful owners of
the bank, of the depositors, and
of the public generally, nothing
exceeds the confession Of
Messrs. Mitchell, Rentschler, and
Baker. More than that, they
have displayed an indecent cal
lousness in the treatment of the
lesser employees Of their own in
stitution which, with their other
performances, marks them as
men set apart from their fell
lows as betrayers of their trust
The Chapel Hill weekly., 1933-03-10

than that, in order to deliver
the stock it had sold when there
was none in it's possession, it
borrowed no less than $1,000
shares from our dear old friend,
Charles Mitchell, chairman of
the bank and company. In 9TH
er words, it was gambling in it's
own stock with the aid of its
head. Was there ever a worse
record of conscienceless manipu-
lation of a great banking insti-
tuition? The designations of
Messrs. Mitchell and Baker
should be followed by those of
Mr.. Rentschler and all the other
officials and directors who had
guilty knowledge of or profted
by these transactions.
1T goes without saying that
the Congress Of the United
States will fail in its duty if,
first, it does not find out what
the national bank examiners
were doing during these years in
permitting these things to come
to pass, and, secondly, if it does
not Immediately pass remedial
Legislation to make impossible
the repetition of such scandals,
the mere revelation of which has
gravely affected an already seri-
Gus banking situation
The Chapel Hill weekly., 1933-03-10

tax whatsoever in the next year.
Mr.. Mitchell's sale of this stock
is probably not illegal in a GRIM
inal sense. The income-tax au-
thorities have the power, how
ever. to reopen this tax return
and to invalidate the sale. It
was not genuine one in open
market. since an arrangement
existed to buy back the stock at
the same price after the requi-
site period.
But this does not end the tale
of shamelessness. 1t was brought
out that the City Bank, finding
itself in 1927 with about $751;
100000 OF worthless Cuban
sugar paper on its hands, pro-
ceeded to get rid of it in this
way: 1t increased it's stock by
an issue of $25,000,000 which it
sold for S50,000,0OO. Of the lat
ter sum S25,OOO,O0O went to the
National City Company, which
then purchased the stock of a
newly formed General Sugar
Corporation, and this dummy
corporation bought the bad pa
per for the same amount from
the National City Bank-only to
lose most of the millions in
volved in that paper. This was
high finance, indeed, with the
purchasers of the bank stock
holding the bag The value of
the stock Of every stockholder
was lowered by that transaction
without their knowledge.
Finally there is one more re-
vealing transaction to record.
During the 1929 boom market
the National City Company sold
its City Bank stock short. More
The Chapel Hill weekly., 1933-03-10
of March 1927 and recorded in Book
78, Page 103, we will on Saturday the
18TH DAY OF MARCH, 1888
12 O'CLOCK NOON

IL O'CLOCK NOON
at the Courthouse door in Orange
County, Hillsboro, N. c., sell at pub
lie auction for cash to the highest bid
der the following land to-wit:
Beginning at a rock in Mrs. Jas.
Laws Jr.'s line and running thence
S. 3 deg. w. 3279 chs, to rock in
James M. Porterfeld's Northern line;
thence N. 80 "a deg. w. 29.95 chs.
to a rock on w. side of Ridge Road;
thence N. with said Ridge Road and
Mrs. Robert Compton's line 17.40
chs. to a black jack stump; thence
with Mrs. Henry Compton's line N. II
deg E. 1859 chs. to rock; thence
S. SO "a deg. E. 1888 chs. to the first
station, said tract containing 81 acres
according to survey and plot made by
Jas. o. Webb. County Surveyor, made
January 81, 1907.
This sale is made by reason of the
failure of J. c. Jordan and wife,
Ulise Jordan, to pay off and discharge
the indebtedness secured by said deed
of trust.
A deposit of 1919 will be required
from the purchaser at the sale.
This the End day of February,
1888.
INTERSTATE TRUSTEE
CORPORATION,
C,,hot titpto Tr,sfaa