davidaulloa/AmericanStories huggingface dataset:
Evening star., 1933-02-21
STEEL FIRM SHOWS
ITS FAITH IN FUTURE
New Offering Of Stock to Employees
Demonstrates Belief in Bust
ness Recovery.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, February 21.-The con-
tinuation of the United States Steel
Corporation employees stock subscription
plan, in effect since 1908, is a demon
stration of faith, either In the basic
soundness of policy that has been
criticized or in the future of the indus
try, for when a corporation sells its
shares to men whose only income Is
the reward of labor it assumes serious
responsibility. It pledges its faith that
in the long run the workers will not
suffer.
The idea of making workers partners
in business and industrial enterprises
was entirely new 80 years ago, when
George w. Perkins. then chairman of
the United States Steel Corporation, and
Ebert H. Gary, president, decided that
the best way to cut down the turn
over in labor was to make it worth
while for workers to stay with the cor
poration.
When Perkins first made the expert
mental offer to employees he said in his
letter: THE continuation of this policy
would make it possible for a man to
buy one or more shares of the stock
each year, under contract with the cor
poration, upon terms offering a safer
and more profitable investment than he
could possibly find for his savings any
where else" That, of course, was
bold statement. 1t has yet to be proved
wrong. The fact that the corporation
is continuing its plan shows that its
faith is as strong as in the days of Per-
kins and Gary. Employees In the plants
We're shy of the scheme at first. Later
they regarded the subscription idea as
a great privilege. At the peak of the
1929 bull market Steel Corporation en-
ployes had paper profits of about $780,
100000
Copyright, 1933)
Evening star., 1933-02-21
Business Notes
By the Associated Press.

BY the Associated Press
NEW YORK, February 2l.-Leading
underwear manufacturers have reduced
prices an average of per cent in the
Fall lines just opened. The revisions
apply to mems and boys heavyweight
cotton ribbed garments.
Buyers show little activity in womens
ready-to-wear and accessories. accord
ing to reports in merchandising cir
cles. Current business consists mainly
OF small recorders.
The newly formed linen guild" COM
posed of linen interests, will seek to
promote a wider use of that fabric in
wearing apparel for men and women
during the coming Spring.
Competition from japanese interests
Is said to have cut sharply into domes-
tic sales of large dinnerware sets, but
selling agents report fair demand for
sets of 40 to so pieces.
The gray goods market is quieter and
prices show a tendency to recede
slightly from last weeks levels, accord
ing to mill agents. Spot and nearby
39-inch 80 squares are quoted at 4l2a
AS cents and 381a Inch 64-6Os at asa
3A cents
Evening star., 1933-02-21

,o.o Saies Sa Oh Stoeks locks on New York Exchange.
1870 PM. 100000 d -'''''' Ioo'oUO
Dvoend rates abb
paseo latest
~ in stock Pas ssS @ nan 100 shares tParty extra ,Pls
81 in Special prefersd 81 in STOCK Plus
p Payable in sN"1 A"'e' HFIus 90 in stock.
Evening star., 1933-02-21
COMMERCIAL FAILURES
SHOW SHARP DECLINE
BY the Associated Press.

BY the Associated Press.
NEW YORK, February ar. G.
Dun 8; Co reported that business fail
ures in the United States for the past
week totaled 563, against 629 a week
ago, $50 two weeks ago and ISL in the
same 1882 week. The number was the
smallest for any week this year.
Improvement SO far in February,
said the agency, 'is worthy of particu-
lar attention" the total of the past
three weeks, 1882, comparing with
2,119 for the last three weeks of Janu-
ary and 2,224 for the corresponding
February period of 1882. The decline
last week was especially notable" in
the East, West and on the Pacific
Coast, although there was a slight in
crease in the South.
Evening star., 1933-02-21

81. Bell, after a re-
markably long and
successful financial
career, told the
directors that he
proposed to tighten
the banking bur-
dens on his shoul-
dets and give up
the presidency of
the trust company.
His resignation was
a C epted d with
great regret, t , he
was made chair
man of the board
and Core or a n
Thof1l was at once
elected president.
Mr.. Thorn had
- - - - y
Evening star., 1933-02-21
COAL PRODUCTION GAINS.

BY the Associated Press.
Production of bituminous coal showed
a sharp rise during the week ended
February IL, as compared with the
previous week., as the output was meas
ured by the Mines Bureau. In the
table that follows production is given
for comparable periods, as reported by
the bureau:
Week ended February II. =, 660, 900 tons
Previous week. ek............5,8 1850, 900 tons
Same week last year. 20. .626, 900 tons
Evening star., 1933-02-21
NEW YORK EGG PRICES

NEW YORK, February 81 Especially
Quotations for eggs in the wholesale
cash market today were:
Mixed colors: Special packs, Is;
standards, 13A: fresh gathered first,
13a13A; seconds, 1214a1234; medium,
12Aa1215; dirties, 1212a12%; checks,
11Aa111a. Whites: Nearby selected
181aa1912; Western receipts, specials,
l7a171s; standards, 15a16; undergrades,
l4a14l2. Browns: Nearby and Western,
special packs, 15a16; standards, 1312a14
Evening star., 1933-02-21

SILVER QUOTATIONS.
NEW YORK, February 81 (R.-Bar
silver, steady, unchanged at 81.
Evening star., 1933-02-21

, OF Each oeg sales edition
". soeA IN TINS edition from
Prev 1893 Stock Sales -' pSPer.
Evening star., 1933-02-21
INVESTMENT TRUSTS
Quotations as Of IL o'clock.)

NEW YORK, February 81 lP.-
Over the-counter market:
Evening star., 1933-02-21

ual this edition.
Sales Of stock this edition yesterdays
Evening star., 1933-02-21
NEW YORK BANK STOCKS

NEW YORK, February 81 (P.-Over-
the-counter market:
Quotations as of 10 o'cIock.)
Evening star., 1933-02-21
TRUST FIRM HEAD
1 .'HAS anniversary
Corcoran Thorn Completes
cFNe-Year Service as Amer
: Jean Security Executive.
BY EDWARD C. STONE.

Corcoran Thorn commenced his sixth
year today as president of the American
Security g. Trust Co. On the afternoon
of February 81, 1928, the late Charles
Evening star., 1933-02-21
MARKET HOLIDAY

NEW YORK, February 81 CP-waSh-
ingtons birthday anniversary, as usual,
will be observed as a holiday tomorrow
by financial markets and banks
throughout the country
Evening star., 1933-02-21
THE NEW YORK STOCK EXCHANGE

NoTE-Today edition.
sales of edition yesterdays
Evening star., 1933-02-27
'BORAH SEES j. s.
OWNING RAILWAYS
Also Warns of CmtaiIing In
surance Companies if
Loan Policy Continues.
BY the Associated Press.

by the Associated freSS.
Senator Borah declared in the Senate
today that if the Government continued
its present loan policy, it may have to
take control Of the railroads and in
surance companies and make the Soviet
government ashamed OF ITSELF in COM
pariSon.
Breaking into the debate on the Hull
Walcott measure to grant a two-year
moratorium on foreclosures of farm and
small urban home mortgages, the Idaho
Republican said I'VE may not take over
the farms right away, but we are un-
doubtedly in a position where we are
going to have to take over the railroads
if We continue our present course"
And not only the railroads, but in
surance companies as well,' he added
Well make the Soviet government
ashamed of ITSELF"
Borah did not express his views or
the Hull-Walcott bill, but his statemen,
was viewed by colleagues as warning
against such legislation at this time.
Senator Glass. Democrat. Of Viz.
ginia, had thrown his influence strong.
ly against the bill, contending:
1T is going to make it impossible fol
long period Of time for anybody. nc
matter how worthy, to borrow money Il
Congress reserves the right to declare
moratoriums."
I'VE are living under distressing con-
ditions,", replied Senator Fletcher Of
Florida, ranking Democrat on the
Banking Committee. He said the mea-
sure was necessary to enable farmers
and small urban home owners to avoid
foreclosure.
Evening star., 1933-02-27
ARREST MADE IN DEATH
OF U. S. AGENT IN 1929
Former Phoenix Bootlegger Re-
ported Held in Staying of
Paul E. Reynolds.

BY the Associated Press.
PHOENIX, Ariz, February 81
The Arizona Republic says 1t has
learned from an unusually reliable
source" that a man, Identified only
as a former Phoenix bootlegger. Is
being held in the Maricopa County jail
as suspect in the Staying here more
than two years ago of Paul E. Rey-
nolds, Department of Justice agent.
Since Reynolds body was found
floating in an irrigation canal north
west Of Phoenix, August IL, 1929, fel-
low agents and peace officers through
out the Southwest have been trying to
solve the mystery surrounding his
death.
Reynolds, q 29-year-old Government
operative, came to Phoenix from his
headquarters at Albuquerque N. Mex,
presumably to investigate an alleged
underworld organization. No Official
statement ever has been made publicly
concerning the nature Of the case on
which he was working.
Evening star., 1933-02-27
INAUGURAL THRONC|
|. POURING INTO CITY,
Trains, Buses and Planes
Bring Visitors From All Sec
tions-Seating in Shape.

The vanguard of the great throng
which will witness the Inauguration OF
Franklin D. Roosevelt began pouring
into the city today by every means of
transportation.
Thousands were reported on trains,
buses, airlines, and there has been
noted On the highways entering the
Capital an unusual number of cars with
licsnse plates from distant points bear
ing their burden Of inaugural visitors
to the city.
The peak" movement Of inaugural
visitors is not expected, however, until
Wednesday and Thursday, when special
trains bearing State delegations and
other groups will begin pouring their
thousands into the city, and when
greatly augmented bus and other trans
portation service will bring other thou
sands.
Hotel men report rooms already are
beginning to fill up, and the Inaugural
Housing and Hospitality Committee. Of
which Mrs Blair Banister Is chairman,
reports it is beginning now to feel the
full pressure of the demand for accom-
modatiOnS during the inaugural period.
No check on the actual number of
inaugural visitors already in the city
could be obtained, but all transpor-
tation agencies reported an unusually
heavy travel to the city despite the
fact that the inaugural is still five days
away.
The Inaugural Committee today re-
ported that New York City Democratic
organizations will have the largest
representation during the inaugural
with more than 5000 members of the
Democratic organizations there booked
for the inaugural.
Arrangements for the accommoda-
ton of these visitors have been worked
out at conference between John A
Cllrley and John H. McCooey, Kings
County leader A great portion of the
New York delegation will take part in
the inaugural parade, and there will be
three bands in the delegation. The New
Workers are coming to the Capital on
eight special trains, and in busses and
private cars.
The more than 5000 includes only
Evening star., 1933-02-27
INSULT FOR PERU
CLAIMED AT GENEVA
Nations Delegate Accuses Colon
bian Delegate of Improper Re-
marks in League Session.
BY the Associated Press.

BY the Associated Press.
GENEVA, February 27.-The Peruvian
delegate to the League Of Nations,
Francisco Calderon, in letter to the
League today charged that Eduard
Santos, Colombian delegate, insulted
Peru at a meeting of the Council last
Tuesday when Peru was not represented.
(The League of Nations Council met
last Tuesday to consider Colombia S
appeal invoking article is of the League
Covenant calling for an investigation OF
the conflict between the two nations
over the border city of Letecia)
The Peruvian delegate did not cite
the remarks to which he objected. but
he declared he was transmitting Senor
Santos statement before the Council
to Lima.
The Council and auditors of February
81 apparently did not note any i'm
proper comment by Senor Santos, who
is former foreign minister Of Colombia
Evening star., 1933-02-27
Paris Is Willing to Participate in
Embargo If U. S. Govern
ment Also Takes Part.
STIMSON POLICY is GUARDED
COOPERATION WITH LEAGUE
Toxic Troops Push on, Meeting Strong
Resistance at ShamaOshan-TOll
Heavy in Air Raids.
BY the Associated Press.


Great Britain has applied embargo against shipments of
material to either China first action this
proposal advanced in the League of Nations Council Sir
Simon said the would
the expo export of arms or munitions to the Far East
The proposal discussion Washington
American
posa to grant presidential imposition embargo
In Paris the let it be understood that
participate in embargo which the
United States take " -
Meantime at the front in Jeho Japan armies battering
Chinese passes
eho City, apparently they had met the first resistance
the invasion
Evening star., 1933-02-27
Woodin Gets Help
In Finding Office
Which Is to Be His
Ushered in to See Mills
After Hunt Through
Treasury Halls.
BY the Associated Press.

BY the Associated Press.
William H. Woodin had to enlist the
services of a guide today to find his
way to the Office that will be his after
next Monday.
He had come for a long talk with
Secretary Mills to familiarize himself
with the job he will take over after the
Inauguration of President-elect Roose-
velt
Woodin entered the Treasury Build
ing by the Fifteenth street entrance
and asked a guide the way to the Sec
retary's Office. He was directed to an
elevator which deposited him on the
second floor at the middle Of a long
corridor.
A messenger seeing the man walking
slowly along the corridor carrying a
large briefcase, inquired his destina-
nation and guided him to Mr.. Mills
Office and within few minutes he was
ushered inside
Woodin declined to discuss his plans
for action after he becomes Secretary.
I'VE are going to act and not talk, p"
he said yesterday.
He said he planned to accomplish all
he could today and return to New York
tonight.
Evening star., 1933-02-27
TWO NATIONAL CITY
OFFICIALS RESIGN
Baker and Mitchell Out.
Perkins Named Head
of Bank Board.
By the Associated Press.

By the Associated Press.
NEW YORK, February 27.-Direc-
tors of the National City Bank, second
largest in the world. today accepted the
resignation of Charles E. Mitchell as its
chairman and chose James H. Perkins
to succeed him.
Perkins, who had headed the old,
conservative Farmers Loan & Trust
Co. and continued as head of that in
Stitution after it was acquired by Ma
tional City four years ago, and its name
changed to City Bank Farmers Trust
Co., had been vice president Of Ma
tional City in the war years when its
zhisf was Frank A. Vanderlip.
Mitchell. whose aggressive outspoken
manner had made him one of Ii1c most
coloEful of Wall Streets big BAN ers,
he'd returned to Washington after nlAk-
;Ig public his resignation as chairman
of the National City Bank and its sub
sidiary companies last night, saying
that he was taking the action out of
loyalty to the bank following criticism
directed at him "as a result of misun-
derstanding of testimony" given in the
Senate's stock exchange investigation.
designations Accepted.
Perkins, tall, rather scholarly ap-
pearing native of New England, and
an overseer of Harvard, commented but
briefly, saying 1.-The primary business of
the bank is to serve the domestic and
foreign commerce and industry of the
United States in the field of CONNER
cial banking, along the same lines as
in the past"
Directors of the National City Co. &C
cepted the designations of Mitchell as
chairman of that organization and of
Hugh B. Baker as president. Baker
had also testified before the Senate
Finance Committee.
Perkins, asked about the future of
Continued on Page 4, Column ~
Evening star., 1933-02-27
WIVES PLAY MEDICINE BALL.
PAYING REGULARS SURPRISE CALL
White House Party Followed by Hot
Wafaes and Sausage Breakfast With
President and Mrs. Hoover.

President Hoover and the members
of his medicine ball cabinet were going
through their customary morning work.
cut in the snappy air early this morn
ing when they were interrupted by a
surprise visit from the wives of II of
the players.
The surprised visitors, headed by Mrs
Hoover, first took up positions on the
side-lines and cheered and applauded
the contestants, but soon either from
loss of interest or from inspiration,
produced ball of their own and en-
tered upon game among themselves
nearby.
This rival contest soon broke up
Evening star., 1933-02-27
$4,000 MORE ASKED
FOR ELECTION PROBE
Additional Fund Requested in SEN
ate to Conclude Broussard-
0verton Inquiry.
BY the Associated Press,

BY the Associated Press
A resolution to give the Senate Cam
paign Funds Committee investigating
the Broussard-Overton election in
Louisiana another s25,Oo0 to conclude
the inquiry was introduced today by
Senator Carey, Republican, Of wyom-
ing, member of the committee.
The resolution was -s1efIcd to the
Investigating Comzlittee, but a meet
ing date is indefinite because of the
illness OF Chairman Howell, Repub-
lican, of Nebraska.
Carey said he offered the resolution
for Howell and 1t was possible Senator
Townsend, Republican, of Delaware,
would call a meeting soon to decide
whether to. 60 ahead with the inquiry.
Senator Long, Democrat, Of Louisi-
ana, who supported Senator-elect John
H. Overton, winner over Senator Edwin
s. Broussard, will continue to fight the
additional fund on the ground that
Broussard's charges of fraud and cor
ruption in the primary and election
last year have not been proven.
Evening star., 1933-02-27
Selection of Swanson and
Ickes Confirmed by
Roosevelt.
VIRGINIAN is DESCRIBED
AS "MY OLD COLLEAGUE"
Announcement of Other Members
Promised Shortly-President-elec
Works on March 4 Address.
BY the Associated Press.

BY the Associated Press.
HYDE PARK, N. Y, February 81
President-elect Roosevelt added two
more names to his cabinet today
Senator Claude A. Swanson of Virginia
as Secretary of the Navy and Harold
Ickes of Illinois as Secretary of the
Interior.
He had previously announced ap-
pointment of five other members Of his
cabinet Cabinet members officially an
nounced thus far are:
Secretary of State, Cordell Hull OF
Tennessee.
Secretary of the Treasury, William
H. Woodin of Pennsylvania and New
York.
Secretary OF War, George H. Dern
of Utah.
Postmaster General-James A. Farley
Of New York.
Secretary Of Agriculture-Henry A.
Wallace of Iowa
Secretary of the Navy-Claude A.
Swanson of Virginia.
Secretary of the Interior-Harold
'1ckeS Of Illinois.
Swanson Called "Old Colleague"
This leaves three posts in the cabi-
net still to be officially announced, al
though it is generally believed the At
torney General will be Thomas j. Walsh
of Montana, the Secretary of Commerce
Daniel C. Roper of South Carolina, and
the Secretary of Labor Miss Frances
Perkins of New York.
Announcing todays appointment, the
President-elect simply commented: Il
like the cut Of their jibs"
COnfirpoiv,n hic co1ocfiov of {or
Swanson for the naval post, Roosevelt
referred to the veteran Virginia as my
old colleague"
Swanson is ranking member of both
the Senate Naval and Foreign Rela-
tions Committee and would have sue
ceeded Senator Borah of Idaho as
chairman of the latter.
1t was indicated that Swanson
probably would give up his post on
the Geneva arms delegation although
no consideration has been given to
that.
Regards Ickes Highly.
In discussing the selection Of Ickes
it was emphasized that his party af-
flliations had nothing to do with his
choice Roosevelt said he had known
Ickes for 20 years or more and regard
ed him well informed on internal
affairs.
The Interior Department deals al
most entirely with Western problems
and It is one Of the few times West
erner has not been chosen for the Of
fee. Roy West, another Chicagoan,
served under President Coolidge.
After his cabinet announcements to-
day the President-elect turned to his
inaugural address, which he intends to
make very concise.
Announcement CT the names of the
remaining cabinet officers was expected
shortly. Roosevelt said today he had
not gone anywhere below cabinet mem
bers In his selections.
william Phillips of Massachusetts,. a
former member of the diplomatic corps,
was disclosed to have been at the Roose-
velt home for time last night. He
has been mentioned as probable choice
as Undersecretary Of State.
Edward j. Flynn, New York secretary
Of State and close friend of the Presi-
dent-elect. was caller at the Roosevelt
estate today.
Evening star., 1933-02-27
M'GU|RE PLEADS
GUILTY IN LOTTERY
Promoter Sentenced as Sen-
ator Davis Trial in Moose
Case Is Delayed.
BY the Associated Press.

NEW YORK, February 27.-Bernard
c. Mcclure, professional promoter
pleaded guilty today in the Loyal Order
of Moose Federal lottery case. in which
he was co-defendant with United States
Senator James j. Davis of Pennsyl-
vania.
Trial of Davis and two other defend
ants, called for today, was put over
until next Monday on request of De-
fense Attorney Charles H. Tuttle, who
told the court he was engaged in
another case.
Louis Mead Treadwell, assistant
United States attorney. informed the
court the Government was willing that
MCGUIRE should withdraw his plea OF
guilty in the event that previous con-
viction-in the Fraternal Order OF
Eagles lottery-should be reversed on
appeal.
Sentenced to Atlanta.
Judge Alfred c. Coke sentenced Nc
Guire to year and day in Atlanta
Penitentlary, one each of two indict-
ments, the sentences to run concur
rently with a similar sentence imposed
when he was convicted in the Eagles
case.
Mcclure was convicted along with
Conrad c. Mann and Frank E. Herring,
Eagles officials. Raymond Walsh, his
assistant, was acquitted in that case
Walsh also is defendant in the
Moose case, as is Theodore G. Miller,
head of the Moose propagation depart
ment. Senator Davis is director gen.
eral Of the Moose. He was put on trial
alone last Fall, but mistrial was de-
clared when Defense Attorney Charles
G. Margiotti of Pittsburgh reported that
a juror had attempted to communicate
with him.
Charged With Conspiracy.
All Of the defendants are charged
with conspiracy to violate Federal lot
terry laws and with the shipment OF
lottery tickets across State lines.
Judge Coke consented that the plea
should be withdrawn in the event that
the questions of law involved in the
Eagles case are decided in McGuire's
favor by the Circuit Court of Appeals
or by the Supreme Court.
Mcclure was the only defendant ap-
pearing today, the question of postpone
ment Of trial for the others having been
already agreed upon by attorneys.
Judge johnson Jay Hayes of North
Carolina will preside at the retrial OF
Davis when it begins next week.