davidaulloa/AmericanStories huggingface dataset:
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1933-08-10
TRIAL POSTPONED
AS COURT RULES
OUT ILDLANYERS

BIRMINGHAM, Ala, Especially
Only the presence of National
Only the presenee of National
Guardsmen with machine guns
Tuesday held a mob OF more
than three Thousand whites At
Tuscaloosa from stringing - two
white lawyers from New York.
who had come into the stats to
participate in the defense Of
three colored men held for trial
on an alleged murder of a 16-
year-old white girl. Both police
and the National Guard were
necessary as guards for the men
until the train in which they
were sent out OF the state reach
ed the state line. All along It's
route mubs of men with drawn
guns made attempts to take pos
session Of the Northerners. while
at COttondale the air hose OF the.
train was cut and It required
several rounds OF silot to prevent
The huodiuns from ginning pos.
session OF the train. 80
Represent LID.
The two men, Alan Taub and
Irving Schwab,- had come to the
state as representatives of the
International Labor Defense with
the intention of defending Dan
Pippen, Jr., one of the three ac-
cused colored men. They exhib-
tied TO the court paper show
ing that they had been retained
by Pippen's mother and father.
Pippen is alleged to have denied
that he wished to have the men
appear for him. Judge H. B..
Foster, called upon Mrs. Pippen
who stated that she had not re-
tanned the New Workers and that
they had no authority to repre-
sent her son. It Is thought that
threats against her life caused
her to make the denial. The,
Judge thereupon postponed the
trial indefinitely because the ju-
ry already had heard part of the
evidence.
Situation Tense
AS the attorneys left the court
room intending to return to the
northern city. they we're rushed
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1933-08-10
Jessie Cole Grayson
In St. Louis Recital

ST. LOUIs=Jessie Cole Gray
son. contralto of Portland, Ore,
won the plaudits of a large au-
dience with her song recital Fri
day night at Union Memorial M.
e. Church. Her rendition of Ne
gro spirituals was superb. She
was featured on a musical pro-
gram at the National Association
of Colored Women's Clubs in
Chicago.
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1933-08-10

All of the above hO1hes are
working well and should win at
the first time under colors this
coming week.
VANCOUVER, BIC. Well,
folks. we are at Landsdown Park
this week. Most of the bang
tails have cavorted down the
track according to form. The
going is plenty tough for cheap
platters 1t is real poison ivy
for the cheap skates. Despite
the departure of many high class
horses for Seattle many of the
best racers remain here to burn
up the track and furnish thrills
for the Canadians who are crowd
ing the stands. l notice in the
us. there is quite q stir about
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1933-08-10

NIen-Edwin Clapp Shoe Store
Is now in their store at 1924
Fourth Ave-, Metropolitan Center
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1933-08-10

CcOntinued on Page Three)
The Northwest enterprise. [volume] (Seattle, Wash.) 1931-1952, 1933-08-10

lcontlnued on Page Threel
Evening star., 1933-10-03
TWO FACTORS seen
IN COLDS ADVANCE
Sag in Pound and Continued De.
mand by European Hoarders
Stressed.
BY the Associated Press.

6y Inc hsSoCldteo FIess.
NEW YORK, October 3.-The rise
in the London price Of gold to q new
high at 1874 shillings and pence an
ounce was explained in foreign ex-
change quarters here as rejecting both
further sag in the gold equivalent Of
the British currency. and q continued
demand for metal by European conti-
nentals, presumably for boarding pur-
poses
In terms Of the French gold franc,
the pound sterling has slipped today to
new low, which, converted to gold
dollars. was close to s308, compared to
its old parity Of s4.86s Furthermore,
gold has for some time been command
ing price in London few pence above
the price indicated by the level of the
pound sterling in terms Of the gold
franc, or a premium above Paris
This premium Is interpreted In for
eign exchange quarters as rejecting q
desire on the part of continental Euro
peans to hoard metal, and their pref
erence for London as the market in
which to do it. They evidently feel
that their operations can be kept secret
in the free gold market Of London,
while buying in Paris might eventually
bring some withdrawing action on
their heads.
The new high in the price of gold
in London, while the price S3212 an
ounce set by the United States Treasury
today is somewhat under the recent
peak in this country, reflects a some
what stronger dollar than that of a
few weeks ago.
Evening star., 1933-10-03
TWO PLANS USED
T0.REOPEN BANKS
Waiver and Spokane Meth
DDS Employed With Few
Exceptions.
BY CHAS. p. SHAEFFER.

Associated Press Business Writer.
Only two plans-the waiver plan and
the Spokane plan-have been employed,
with remote exceptions, by the Treas
ury Department in getting banks re-
opened since the forced holiday last
March.
The two plans, the Treasury declares,
have no particular advantage over each
other. but one usually is more adapt
able in particular cases, than the other.
The Spokane plan ordinarily Is used
when the condition of the bank Is such
that reorganization is not feasible; the
waiver plan ordinarily Is employed
where the condition Of the bank Is such
that it can be rehabilitated or reor-
ganized, either under its own charter
or under new charter, taken out Tor
that purpose.
Quick Assets Sold.
Under the Spokane plan, the quick
and acceptable assets of an inSolvent
bank are sold either to an existing bank
or to one organized for the purpose OF
taking over such assets. The deposltors
then are paid a dividend representing
the proceeds from the purchase price
Of the assets so sold; the balance Of the
assets are retained by the conservator
or receiver for subsequent liquidation,
with resulting future dividends from
the proceeds of such liquidation and
from the proceeds of such stock assess
ment as may be levied.
Under this plan. the assets OF par
ticularly slow liquidity may be pooled
with the Reconstruction Finance Cor
poration for a cash loan, the r. F. c.
assuming the responsibility OF collec-
ton.
On the other hand, the waiver plan
restores the bank to Solvency, obviat-
ing the necessity for an assessment OF
stockholders, on the grounds OF In
solvency.
Action Is Voluntary.
waiver plan the stockholders are re-
lieved Of an assessment, nevertheless the
execution Of such waivers Is entirely
voluntary on the part of the depositors
and creditors, and, under the emer-
gency banking act, waiver plan can
not become effective until at least rs
per cent In amount of the depositors
and creditors have expressly indicated
their desire to adopt the plan.
Notwithstanding the waiver clause. 1t
has been the general policy Of the con-
troller's Office not to approve reorgan-
ization plans unless the stockholders
have made substantial voluntary con-
tributions to the assets of the bank
equal to the amount estimated to be
recovered from them in the event OF
an assessment, or unless it be found
that the recovery from assessment
would be so negligible, by reason Of the
financial condition of the shareholders.
that 1t would not constitute a substan-
tial factor or consideration.
Evening star., 1933-10-03
CURB LIST RISES
UNEVEN[Y AT END
su!p0 anu!luo0 saIpqS pIo9
and Activity Increases
With UpturE.
Special Dispatch to The Star


| NEW YORK, October 3.-The Curp
Exchange closed irregulary higher To-
day after q session of narrow price
fluctuations in leading shares and quiet
trading.
The market was a liStleSs affair in
the forenoon. but showed firming ten
denotes in the afternoon, with activity
increasing slightly on the upside. The
! gold shares were strong all day and
most active in the afternoon. when
Wright -Hargreaves was the feature as
it sold in blocks as large as $4,000
shares. Consolidated Copper Mines
was the star performer among the
low-priced non-ferrous metals.
The list had a sold-out appearance
and it was plain that stocks were in
strong hands, for a fresh wave of SELL
ing at the opening failed to bring out
offerings and the market hardened
after the overnight orders had been
absorbed.
Some speculative activity was appar-
| ent in the liquor shares, stimulated by
| the Virginia vote on repeal today.
| Hiram Walker recovered from an early
setback and ranged fractionauy higher
n the forenoon.
The utilities were quiet and little
changed. Electric Bond g. Share
| opened fractionally lower but snapped
back to the II level before midday
and moved narrowly thereafter
Oil stocks were mixed. Humble Oil
got up point in the first few minutes,
then lost most of the gain by mid
session.
United Shoe Machinery common and
preferred were bid up moderately on
reports of increasing business as a result
Of heavy shoe production this year
Pittsburgh Plate Glass. General Tire g.
Rubber and Celanse Corporation first
preferred also moved ahead. Great At
lantic g. Pacific Tea slipped four points
during this period. Woolworth, Ltd,
rose point on one sale.
Copyright. 1933)
Evening star., 1933-10-03
TRENDS IRREGULAR
! ON BOND MARKET.
Issues of Same Companies
Move in Opposite d.
recti0nS.
BY JOHN A. CRONE.
Special Dispatch to The Star

Special Dispatch to The Star,
NEW YORK. October 3-The market
for bonds today was full of price con-
tradictions Issues of the same COM
pany moved in opposite directions,
some rising and others declining. This
was evidence that technical conditions,
or the temporary supply or demand
situation. controlled movements more
than any other factor Like the share
market that for bonds was of moderate
volume and it was thin"
Since the high level was reached
the middle of July, there has been an
average decline in corporation bonds
Of points This is loss OF about
one-third of the advance occurring
from March to midsummer. There
are many issues, however. in which the
loss from the peak has been from TWO
to three times the average decllne
This reaction is most prominent IN tne
low grade rails and public utility hold
ing company debentures. The erect OF
it on the portfolios of the banks Is I'M
portant lust when examinations are
being made to qualify them Tor the
Deposit Guarantee Corporation.
Follow Stocks.
In general bonds today followed the
sentiment reflected toward common
stocks, The groups in which the larg-
est gains occurred in the Spring and
early Summer were those that would
have been most benefited from business
recovery. Now this list is adversely al
fected by indications that earnings IN
the September quarter may not reaHAe
former expectations.
Conseouentlv. the street is witness
ing some liquidation each day in bond
of the weaker railroads and public utll
titles and a lesser reaction in lndustrla
issues. The largest losses today Wert
in St. Paul Gold IS and Adjustment 5s
Erie Refunding SIS, New York Centra
AIS Chicago g. Northwestern 434s ant
Missouri Pacific SIS. These ranged iron
J., to II, points. In the public utlnt!
group the early losses of point o.
more were in Columbia Gas & Electro
Debenture SIS and Interborough Raple
Transit SIS and Is. Some Of this wa
later regained. A 2-point rise in Mar
ket Street Railway Is was i'll contras
to these other movements.
Bonds of the oil refining and produc
ing companies were inclined to heavl
ness Most of the second grade indus
trials held steady, with the exception
of Armour 5las, which lost point.
Junior Rails Still Sag.
A number of significant movements
occurred in both domestic and foreign
bonds in the late trading. Junior ralls
continued to decline. New York Gen.
trail 4l2s dropped over point and were
Is points below the best of the year
Columbia Gas g. Electric SIS of 1861 Eel
3 points, while the SIS OF 1852 rose q
point. All of the Canadian railroad
group were strong.
In the foreign dollar list a 5-poln'
rise in Swedish 5 IS to par was the 1ea'
ture. Great Britain As rose point
Electric Power of Germany 6l2s gained
, points. Japanese issues were flrmer
Brazilian and Argentine loans were
heavy and Cuba 512s dropped down to
about their previous low. There was
not much change in the United States
Government list.
tCopyright 1880
Evening star., 1933-10-03
Brokers' Comment

NEW YORK, October (P,-Some
brokers today were of the opinion that
a turning point in the stock market
was near at hand while others were
cautious.
Hornbower g. Weeks-Although the
many uncertainties which continue 10
overhang the market may occasion
some further unsettlement in prices,
underlying forces from the longer term
viewpoint would seem to favor higher
price levels.
Baar Cohen & Cove are OF the
opinion that a turning point in the
stock market is not far away.
Jackson Bros, Boesel & Cove see
nothing in the situation to warrant the
deduction that a further major decline
from the existing price level will be
witnessed.
Evening star., 1933-10-03
TRADE REPORTS BETTER
IN EVERY PART OF U. S
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. October 3-Industrial
production in the United States during
September was unchanged from August
levels. but consumption throughout the
country last month made the most
widespread gains since the general busi-
ness improvement commenced in April.
according to the current business sur
vey of International Business Machines
Corporation. This refutes the conten-
ton of some business observers that the
recent advance in factory operations
was not warranted by consumer buying
end that stocks of surplus goods were
simply being increased. the survey
maintains.
For the first time in the current busi-
ness upturn. reports from the $500 In
ternational Business Machine field rep
reSentatives in the United States indi-
cate that every section experienced an
increase in retail trade during the past
30 days, according to the surveys.
Evening star., 1933-10-03
STEEL MEN WATCH
BUYING CAMPAIGN
Rail Orders Will Prove Help,
but Best Profits Come
From Equipment.
BY BERNARD S. O'HARA,


NEW YORK, october 3-Some wheels
Of industry. according to Wall Streets
calculations. should begin to turn faster
when those rail orders coaxed from the
railroads by President Roosevelt are
place definitely on the steel makers
books.
Responses so far to this particular
phase of the industrial recovery pro-
gram bring potential orders for rail and
track material to roughly million tons,
according to current estimates.
Just how profitable the rail business
will be to the steel companies remains
a question, in the absence of official
word as to the prices at which the busi-
ness will be accepted. But opinion in
financial quarters is that the major
benefits of the rail buying will have
reflection in expanded pay rolls and in
direct economic betterment rather than
in any material contribution to divi-
dends on the steel company stocks
Profits Always Low.
It has been said in the steel trade
that the steel companies never made
large profits from rolling rails, even in
times when the railroads could afford
to buy substantial tonnages at S43 a
ton. In the last decade or more the
margin, according to some steel au-
thorities, has been lowered considerably
by the greater expense of rolling Incl
dent to specifications for an exceedingly
careful balance in steel rail chemistry.
Many of the steel companies, including
some of the larger independents. have
remained out Of the rail business.
The steel companies may lack ram
pant enthusiasm over prospective rail
buying. but there is no doubt they
would be exceedingly grateful II the
President continued to function as
carriers to place substantial orders for
cars and locomotives.
A good amount of equipment buying
would bring an active demand for
variety Of steel products, the lack Of
which has left an aching void in the
steel induStry's undernourished system
during the last few years a
Seek Equipment Orders.
The equipment manufacturers. in
view Of the possibilities for a revival in
their line, are understood to be doing
some active scouting in quarters which
may possibly yield stable orders. It
is noted, however. that a difference of
opinion still exists as to the carriers
equipment needs.
Almost any car and locomotive builder
will insist that the roads must come
into the market soon citing the statis-
tics on bad order cars and antiquated
engines to back up his contention
Some railroad executives, on the other
hand have been quoted as saying re-
Gently that the the carriers primary
need is more trafic and that they have
pient Of equipment for handling it.
Evening star., 1933-10-03
FOREIGN MARKETS.
BY the Associated Press.

LONDON.-A sharp setback in rubber
shares was the feature On the Stock Ex-
reports regarding restrictions. South
African gold mining shares were higher
following the rise in the price Of bar gold.
rails again declined and transatlantic issues
were lower following weakness in Wall
Street. The closing was quiet
PARIS.-Uncertainties regarding the dol
lar and the weakness in the Wall Street
market forced values lower on the Bourse.
The closing tone was heavy.
BERLIN.-Trading on the Hoerse was dull
The market closed weak. being Influenced
by the unfavorable dollar fluctuations and
unencouraging export prospects.
Evening star., 1933-10-03
Chicago Grain
BY the Associated Press,

BY The Associated PreM.
CHICAGO. October with specu-
lators in a waiting mood, grain markets
idled through short session Of the
Board OF Trade today, and failed to
hold temporary advances.
A late bearish factor was an authori-
tatiVe unofficial estimate that approx
mately 100000 acres of Winte- wheat
would be sown in the United States
this Fall. a decrease Of 10 per cent
from last year. The administration
objective is IS per cent decrease.
Wheat closed easy at the same as
yesterdays finish to a lower: corn,
18alls down; oats. Aa2 of, and
provisions unchanged 10 q rise Of IS
Evening star., 1933-10-03
DIVIDEND Is DECLARED.

NEW YORK, October 3 (P,.-Direc-
tors of the American Smelling and Re-
fining Company today declared a divi-
dent of $l75 on the first preferred
stock. This Is the first payment since
June, 1882, when dividends on both
classes Of preferred stock were sus-
pended
Evening star., 1933-10-03

Cash Grain Market.
Wheat. No. /. hard (weevily). 81;
corn No. 2. yellow. 44l4a4434; No 2,
white. 49, oats No. 9 white, 35L4
3534: rye, no sales: barley, 50a79;
timothy seed 5.75a6.25 hundredweight;
clover seed. 8O0al1 90 hundredweight.
Evening star., 1933-10-03
NEW YORK PRODUCE.

NEW YORK. October 3 LP-Eggs 2I2s6,
hrm Mixed colors. special packs or selec-
tions from fresh receipts 25a32; standards
and commercial standards, 24i2 hrsts, Goa
%; seconds. 17a1S; mediums. 80 pounds.
1917: other mixed colors unclaimed,
@19.469: quiet and unbalanced
Dressed poultry. steady to weak. Fowls.
fresh and frozen. 9a16: turkeys. fresh 12a
26; other grades UNCHANGED.
Live poultry. drm. Ducks, freight. 12;
other grades UNCHANGED.
Evening star., 1933-10-03
Markets at a Glance
By the Associated Press.

NEW YORK. October 3.-Stocks ir-
regular rails easy. Bonds irregular;
United States Governments firm Curb
irregular; some specialties firm For
eign exchange steady; dollar improves
Cotton steady: increased liquidation
local and Southern hedge selling. Sugar
quiet; commission house selling Coffee
dull; favorable prices Farm Board sale
Chicago w heat: Easy; traders
awaiting developments. Corn: Lower;
rural offerings liberal. Cattle: Mostly
steady and dull. bulk steers s6 to $3.50.
Hogs: Active, 1928 higher. top $3.50.
Evening star., 1933-10-03
STOCKS EX-DlVIDEND

NEW YORK October . GP,.-stocks ex-
dividend today: s,,-
Mass. Utii. ASSOC. 5ec .pf.. ,62iac
Nor MOI Ind Ind Pub Pub seTy ssTy. g. T e. g. Sc s'
Piedmont 4 Nor. Ry.. 15c and 81 extra
Evening star., 1933-10-03
C. & O. LOADINGS RISE.

NEW YORK, october , P,.-Freight
car loadings on the lines of the Ches-
apeake & Ohio Railway for the week
ended September 80 totaled 34,84l,
compared with 32136 in the preceding
week and 3O,546 a year ago.
Evening star., 1933-10-03
DOUGLAS AIRCRAFT co.
REPORTS SMALLER NET
BY the Associated Press.

BY the Associated Press.
NEW YORK, October 3.-Douglas
Aircraft Co.. reports net profit of $751;
$40 for the nine months ended August
81. This is equal to 81 cents a share,
and compares with $173,38 or so CENTS
q share on a smaller amount Of stock
in the same period Of the previous year.
Evening star., 1933-10-03
New York Cotton
By the Associated Press.

By the Associated Press
NEW YORK, October 3.-Cotton was
dull today. Prices eased slightly under
further Southern hedging and scatter
lag liquidation which was absorbed by
covering and trade buying on the set
backs. December contracts sold of
from 9S7 to 977, compared with 9.84
at the close Monday. The midafter-
noon market was fairly steady at net
declines OF 4 to points.
Cotton futures closed steady, to IL
Evening star., 1933-10-03
DIVIDENDS CONTINUE
TO SHOW IMPROVEMENT I
Nv the Associated Press.

By the Associated Press.
NEW YORK, October 3.-Favorable
dividend changes in September totaled
81, as compared with 81 in August, says
Standard Statistics Co. Thirty-tWo
payments were increased. % were re-
sumed 80 extras were voted and II in
1tial dividends appeared. The month
saw As unfavorable changes as against
29 in August.
Evening star., 1933-10-03
METAL MARKET.

NEW YORK October 3 Cooper quiet;
electrolytic spot and future. asked. Tin
barely steady; spot and nearby. 1850
future. 4s.15 Iron quiet. UNCHANGED. Lead
steady; spot New York. 4 so; East ST. Louis.
40 Zinc quiet: East ST. Louis spot and
future, 4.15. Antimony, spot 1.00a7.12.
Evening star., 1933-10-03
MONEY MARKET.

NEW YORK. October 3 lP.-Call money
steady; b per cent all day.
Time loans steady: 80 DAYS. t2a'4 3. 4
8 months. Ssaa4: months, 'tal per cent.
Prime commercial paper. ia.
Bankers acceptanceS UNCHANGED.
Evening star., 1933-10-03
RESERVE BOARD ISSUES
CONDITION STATEMENT
BY the Associated Press.

BY the Associated Press.
The Federal Reserve Boards condi-
ton statement of weekly reporting
member banks gives the following sum-
mary Of the principal assets and LA
bilities for the week ended September
q. together with changes for the week
and for the same week of last year:
Un millions Of dollars.
Evening star., 1933-10-03
AFTER CALL.
PUBLIC UTILITY.

Bid Asked
Amer Tel. & Tel, 4,,2s 80. lll5,
Am Tel & Tel ctl. tr. 5s... 1o3,2 -.
Anacostia & Pot. r: r. 5s. 49, %
Anacostta 4 Pot Guar 5s' ~ 30
Capital traction R r. IS. 80. 541a s.
civ & Suburban as " 46 so
GeorgetoWn Gas Ist 5s 1887 ..,.
Potomac Elec. Cons SO. 80. 1O4 ..;,
Potomac Elec. 6s 1853. ..... 1oa< luSi2
Washington Gas IS '5S. ..... S22 81,
Washington Gas IS 90. ...... 103,4 lof'+
Wash. Gas 6S. series b lU2'A =.
Wash. Rwy. Elec 4S... Soi2 81
MISCELLANEOUS
Barber & Ross. Inc. 6lzs.... 60 49,.
Chevy Chase Club 5ies,. 19l 80.
Wash. VI mkt. Mkt Cold Cold Storage st 5s.. IS " .::.
STOCKS.
PUBLIC UTILITY.
Amer. Tel. & Tel t9) s117 49,.
Gapial .ab oss Ira 'i9n sSt c. e. aoi bbSSM ga
Norfolk & wash. Steamboat 81 -.
Pot Elec. P5Uer sc pfd. -. 109 -.
Pot Elec Pwr. 5l2oc pfd 1O634 los
Wash Ry G. El com. Obj a65 3l5
Wash. Rwy & Elec. pfd. 90. SO S61a
MISCELLANEOUS
Emer. Bromo-Selz. a (2).... 22 e5
Mer TT. & stge. pfd. -. 81 80.
Mergenthaler Linotype. 26ia 27la
Peoples DRUG Sto. ptd. GA; SO SO
wdwd ( Iothrop com. ,50) 25 -.
Wdwd Lothrop pfd. o.. lO6Ia 80.
dividend. Books closed.
Evening star., 1933-10-03
INVESTMENT TRUSTS

NEW YORK, October 3 (P,.-Over-
the-counter market:
Evening star., 1933-10-03
Washington Stock Exchange

SALES.
Columbia Country Club 5las-Sl 900 at
98 $500 at 98
CAPITAL Traction Colo at 1872, 8 at
13l2.
AFTER CALL.
Capital Traction 5s-S1 600 at 55.
Bid and Asked Prices.
BONDS.
Evening star., 1933-10-03

spot quiet; middling. $50.
Evening star., 1933-10-03
DIRECTORY
COMMODITY BROKERS
COTTON

Members N. z. Coffee q sugar
Exchange. Inc.
]. 3. 6achs . CO. :. ME. 3636
Clark, ChiIds D Keeeh. :. ma. 02+6
Fenner, Beane 3 Unseriieder. MA. 1000
winthrop. Mitchell d Co. ma. 00S4