davidaulloa/AmericanStories huggingface dataset:
Evening star., 1933-03-28
CURB ISSUES MOVE
IN NARROW RANGE
Leading Stocks Show Only
Fractional Changes in
Draggy Market.
BY JOHN A. CRONE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 28-The Curb
Exchange moved narrowly in today's
session. which was marked again by
light dealings. The market leaders
barely crept along. Electric Bond &
Share was virtually unchanged. Cities
Service was a shade lower. Standard
OIL Of Indiana was minutely higher.
American Gas & Electric moved up a
half point. United Light 4 Power A
was of that amount.
New Jersey Zinc greeted the winning
OF an important rayon patent decision
against Tubize Chatillon Corporation
with an initial fractional decline. Tub
ize did not appear on the tape during
the first several hours. The drop in
aluminium Co. Of America common was
halted after the company stated that
March was the best month since last
october In point OF tonnage booked.
Electric Bond & Share disregarded
the resignation of Sidney 2. Mitchell
chairman, because Of Ill health, and
the elevation Of c. E. Grosbeck to that
position from the presidency. In the
petroleum group Chesebrough Manu-
featuring, with a dip of 3la points,
proved to be the most vulnerable issue
Tobacco & Allied Stocks was the
leader in the specialized trusts. In
the communication group New York
Telephone preferred was a shade lower
as its parent company. American Tele-
phone, inclined to heaviness.
Babcock & Wilcox, recently weak on
its dividend revision, today announced
that untitled orders at the year end
were $l3.577.902 as against S5,288.759
at the 1881 year end. Recent softness
in General Fireproofing was explained
today by the statement that operations
now are under 80 per cent of capacity.
Nevada California Electric had dis
counted its 1882 earning report show
ing net Of $564,493, against $734,536
in 1881. As expected, International
Utilities Corporation declared the regu-
lar preferred dividends due at this time.
Rike-Kumler Co., Dayton, Ohio, de-
partment store. reported a 1882 net loss
OF $43, ,498. against net profit of $14l,-
900 in 1881, but the stock had forecast
such statement long ago.
Evening star., 1933-03-28
RECAPTURE CLAUSE
MAY Be REPEALED
Rail Debt of S350,OOO,O00
Would Be Wiped Out by
Legislation.
BY the Associated Press.

BY the Associated Press.
NEW YORK, March 2s.-Prospects
that the word "recapture, which de-
scribes a skeleton that, for some IL
years has been lurking in the closet
Of the railroad industry, may soon be
stricken from the legislative lexicon
bring new sighs Of relief to rail ex-
ecutives.
Retroactive repeal Of the recapture
clause OF the 1920 transportation act has
already been approved BY the House in
terstate Commerce Committee and, if
Congress takes the same view. a debt of
some $350,000,000, which the railroads
technically owe the Government will he
crossed off the books.
The recapture clause provides that
any railroad earning in any year in
excess OF SIS per cent of the value of
It's railway property must pay one-half
OF such excess to the Government.
Payment Opposed in Court.
Statisticians of the Fitch Publishing
Co. figure that such excess earnings
liable for recapture from 1920 to 1890.
inclusive. aggregated 1851 ,466 900. Up
to December Is, 1881, however, only
$1O,679,OO0 had actually been paid and
placed In the revolving" fund under
the administration of the Interstate
Commerce Commission Most of the
large roads have not paid anything to
this recapture fund and court actions
IN opposition to payment are still pend
ing.
Early repeal of the recapture pro-
vision is seen not only because the In
terstate Commerce Commission itself
has Tor several years recommended this
action. but also because President Roose-
Veit during his campaign expressed him.
self opposed to the continuance OF
this law.
Under the existing transportation act.
excess earnings have been calculated
on the I. c. C.'s valuation of the
various railroad properties without re-
gard to capitalization. As an example,
the Frisco" now in receivership, had
an excess income during the iI-year
period Of SIG. 9.557,0o0.
AS illustrating the alleged impracti-
cablllty OF payments under the re-
capture clause, the Fitch Co. compares
the net working capital of some Of the
large systems with the amounts they
owe the Government
"Recapture" Debts.
The Chesapeake g. Ohio, for instance.
had net working capital on January
o., laSt, OF S7,l57,O0O, and, for the
1920-30 period. owed the Government
$53,021 900; Norfolk g. Western, work.
ing capital, sl0,999, 600, owed s42.-
100000; Southern Railway. working
capital, s4.950000, owed s15.838.OO
Reading. working capital, s1,537 900,
owed Sl3.750000, and the New York
Central, with a deficit of $3.50 900,
owed $8,203,000.
In addition to the Frisco" various
other roads now in receivership, have
recapture debts ranging from s1,o0o,-
600 to more than So 600 900.
Evening star., 1933-03-28
GAIN IN COMMODITY
OUTPUT IS RECORDED
Federal Reserve Board Says Pick
up Occurred After Banking 0p-
erations Were Resumed.
By the Associated Press.

BY the Associated Press.
Production and distribution Of COM
modities, stagnated during the emer-
gency, showed a substantial pickup
after banking operations were resumed
in the middle of March. the Federal
Reserve Board reported in its monthly
bulletin.
The volume of output at factories
and mines, which usually increases at
this season, showed little change from
January to February, the board said,
and declined considerably in the first
half of March.
In the steel and automobile indus
tries output decreased between the mid
die of February and the middle OF
March; subsequently, some of the auto
mobile plants which had been closed
resumed operations, while activity at
steel mills showed little change. In
February output at cotton and woolen
mills continued at the level prevailing
in January, while at silk mills activity
declined Shoe production increased
by more than the usual seasonal
amount.
Reports from important industrial
States indicate that factory employ
ment increased between the middle OF
January and the middle Of February,
as Is usual at this season.
Evening star., 1933-03-28
INDUSTRY WATCHES
FARM AID PROGRAM
Relief Measure Would Also In.
crease Business Companies Sell
ing Machinery and Tools.
By the Associated Press.

BY the Associated Press.
NEW YORK, March 23.-Watchina
hopefully the administrations efforts to
put its hand to the plow" are the i'm
portant farm implement companies.
which expect to transform large deficits
INTO profits If the farm relief plans
work.
For 1882 deficits were reported by the
J: l. Case Co. of $2,6ll 900, by Deere &,
20. OF s5,l67 900 and by International
Harvester Of $7.583,0O Last year Case
had current assets OF s32 2.522 900, COM
pared with $37,0S2,0 900 in 1881; Deere
d Co showed s64, 1893 900, against s76.-
100000 and International Harvester
had s232,978, 900, compared with S246,-
455 900 at the end of the previous year.
The debts of the farmers to the COM
panies and their dealers for machinery.
ETC., are largely listed in the annual
reports as ''receivables." That paw
ments have been slow In the past few
years, due to the sharp drop of farm
income, is indicated from the reserves
which the companies have set up
against these receivableS.
While the Case Co. at the end of
1882 carried reserve Of some $780,
OO0, about the same as In 1929, Deere
o. Co. had reserves for losses and re-
ceivables of s6,284 900, as against So
997 900 at the close Of 1929, and the re-
serve Of International Harvester for
receivables amounted to $4,000. 900.
compared with sl3,323,000 in the 1929
period.
Evening star., 1933-03-28
GOVERNMENT BOND
LIST HOLDS FIRM
Remainder of Market Dis
plays Heavy Tone in
Quiet Trading.
BY CHARLES F. SPEARE
epecfal Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 28.-United
States Government loans were the lone
important issues today to show degree
of firmneSs. This was conspicuous be-
cause Of its contrast to other bonds
rather than for its size and extent.
The general list was heavy, including
some rather large losses In foreign dol
lar loans and in domestic corporation
bonds of varying grades.
The break in American Telephone q
Telegraph stock below 80 had its senti-
mental effect on the company's deben-
lures, which were fractionally lower, but
still about point above the minimum
made a month ago. The expected re-
duction in the dividend on telephone
stock will provide larger reserve Tor
interest payment on the bonds. There
is no particular logic in selling them at
this time. However, all high-grade
issues are now under moderate pressure
This was indicated in the declines IN
Consolidated Gas Of New York bonds
and in the first mortgages OF the Atchl-
son and Union Pacific systems
The chief losses, however, were In
semi-speculative bonds. Western Union
SIS dropped 3 points on the poor show
ing OF the company last year. Losses
OF to IL points occurred m Inter
national Telephone & Telegraph and
Postal Telegraph issues, which coutin-
ued to reflect the unfavorable yearly
statements published last week. United
Drug SIS broke 2 points to a new low
for the year. Dodge 6s were off 1l2
points and the same decline occurred
in Loew's 6s Utilities Power & Light
SIS went below Is for the first time this
year and American & Foreign Power IS
made a new 1888 low record. Frac-
tional losses occurred in many Of the
junior rails. The local traction list
was heavy.
Interest in the foreign dollar loan
department centered in the German
group, which was decidedly weak. Both
the Government 5l2s and Is declined
IL, points and were lower than they
have been before this year, the Is
breaking through 10. Various German
corporation loans lost ~ points and
municipals and agricultural bank bonds
/ to 1l2 points. In contrast United
Kingdom 51cs were up about y point
to los and Argentine IS rallied over a
point.
The advance in the Treasury issues
was about IL point maximum The
rate on the latest issue of discount bills
was 172 per cent, compared with 1.83
per cent last week and about 4H4 per
cent just before the bank holiday.
Evening star., 1933-03-28
New York Cotton
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 28-Initial cot
ton prices here today were irregularly
higher, following the easier tone in
Liverpool.
Opening quotations we're: May, 6.18,
of /; July, 6.36, off /; October. 656,
up l; December, $40, up 2; January,
6.78, up 2.
Following the decline of nearly a
dollar bale yesterday, about all OF
which took pace during the last hour
prices made a further decline during
the morning which carried May to GIG
or 80 points below high levels reached
when the Exchange reopened and 2
points lower than last week
Houses with foreign connections re-
ceived many selling orders just before
the close last night and pressure un-
covered stop-loss limits today which
ran prices of rapidly. During early
trading prices held within a narrow
range and for the most part slightly
above previous closing figures, but as
the session progressed weakness in out
side markets and unsettling European
news. as well as reports that Congress
would probably pass the farm bill as
presented by the administration, all
combined to depress prices.
Quotations in Liverpool lost or 8
English points and closed at the bot
tom. with sterling slightly easier below
$3.42.
Evening star., 1933-03-28
POTATO MARKET.

CHICAGO, March % up Omitted
States Department Of Agriculture) -
Potatoes-Receipts 81 cars; on track,
266 cars; total United States shipments,
933 cars. About steady; supplies liberal;
demand and trading slow; Wisconsin
Round Whites. 75a82l2; Idaho Russets,
RADIO Red McClures, $50: Minnesota and
North Dakota Early Ohios, U. s. No. /,
and partly graded 80a85; South Dakota
Early Ohios. U. S. No. /, and partly
graded 70a80, mostly 70a75.
Evening star., 1933-03-28
NORFOLK & WESTERN NET
ESTABLISHES RECORD
BY the Associated Press.

BY the Associated Press.
ROANOKE. Va, March 28.-Main-
tanning approximately the same operat-
ing revenue as 1t reached in January,
but effecting large savings in decreased
operating expenses, the Norfolk &
Western Railway last month earned q
net income of $1,376,37668, its highest
figure in several years, it was an
nounced here today.
The increase over February, 1882,
was $585 $4,000, and over last month,
$64, ,4492
Only a comparatively small amount
Of the saving in operating expenses has
been effected through reduction in
forces. railway officials said. The only
salary cut was the 10 per cent reduc-
ton made in February, 1882.
For the first two months of this year
the net income reached a total Of $2,-
688, 8,304.16, . gain of $1.44l ,320.34 over
the corresponding period IN 1882.
Evening star., 1933-03-28
Grain Market
By the Associated Press.

By the Associated Press.
CHICAGO, March 28-Indications of
big abandonment Of Winter crop acre
age in the Southwest and the Pacific
Northwest led to higher prices for
whsat late today.
Traders were rather timid about tax
ing decided stand on either side of
the wheat market early, preferring TO
await developments at Washington.
Later there was much more activity,
influenced in the main by crop news.
Wheat closed unsettled, 1Aa15e
above yesterdays finish, corn 14a1a up.
oats unchanged to Las higher, and
provisions unchanged to cents lower
Evening star., 1933-03-28
VOLUNTARY GROCERY
CHAINS ON INCREASE
Special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK, March 28-Nearly 80
per cert of the business of the United
States is now being handled by volun-
tary chains, which are cooperative
organizations that have been formed
by wholesale and retail grocers in ad-
Justing their methods to meet chain
competition.
Today there are 68S voluntary chains
In this country, with nearly 5000 re-
tail members. according to a survey
just completed by the American In
stitution of Food Distribution, a non
prof1t-making organization here. Back
In April, 1929, there were 375 such
chains with $4,000 members.
Evening star., 1933-03-28
RESUMPTION OF COAL
MINING PLANNED SOON

Special Dispatch to The Star.
MEYERSDALE, Pa. March 28.-The
Mountain Valley Coal Co. mine near
here, which has been closed for months,
is getting ready to resume operation.
The mine, which formerly employed
100 men. has been purchased by
Charles Merrill Of Garrett from the
receivers Of the company
Men are employed in cleaning up the
mine and some have been put to work
digging coal. Others will be added and
it is expected that soon the mine will
be operated at full time.
Evening star., 1933-03-28
Markets at a Glance

NEW YORK. March % (P).-Stocks
firm; leaders advance quietly Bonds
heavy; rails decline. Curb firm; trading
dull. Foreign exchanges steady; changes
narrow. Cotton higher; Wall Street
and trade buying; higher cables. Sugar
higher: steady spot market. Coffee
higher; trade buying.
CHICAGO. March % (R).-Wheat
stronger; crop damage reports. Corn
firm; sympathy with wheat. Cattle
slow, weak undertone. Hogs steady,
active, top, 81.
Evening star., 1933-03-28
Wheat Supply Decreases.

NEW YORK. March % tR.-The
visible supply of American grain shows
the following changes In bushels:
Wheat decreased 3,205, 900; corn de-
creased $4,000: oats decreased 744,000:
rye decreased 100000; barley decreased
117,000.
Evening star., 1933-03-28
Rubber SHIPMENTS.

NEW YORK. March % UP.-Cable
advices to the rubber exchange of New
York say that shipments of crude rub
Der from the Dutch East Indies in
February totaled 15,949 tons against
l7,400 in January.
Evening star., 1933-03-28
Washington Stock Exchange
SALES,

Potomac Electric Cons. $4,000 at
1903.
Washington Rwy. g. Electric pfd.-5
at 35.
Lanston Monotype-1o at 38l2, 10 at
80, 10 at 391s, 10 at 40, 8 at 40.
Mergenthaler Linotype-l0 at 20. 10 at
20, 10 at 20, 10 at 20.
After Call.
Potomac Electric Cons. 5s-s1 900 at
103, 8 at 1852.
washington Gas IS "B"-Sl00 at 1929,
sl0O at 1O21a, 5000 at 1925.
Washington Rwy. & Elec. 4s-$500 at
81, $1,000 at 81
Evening star., 1933-03-28
INVESTMENT TRUSTS

NEW YORK. March % LP.-Over-
the-counter market:
Evening star., 1933-03-28
SH0RT-TERM SECURITIES.
Reported by Chas. D. Barney & COY

.,,,. Bid. Ofer.
American Chain Co. lis 1893 81 SO
Amer. Tel & Tel. 5I2s 1919 1O4i. IO4i,
Am. Wat Wks &; Ell SIS 1894 S5I, S6
Belding Hemingway IS 1886 s7ls a5
Bethlehem Steel Co. 5s 1895 rs Ta7.
Canadian Nor. Ry. Alas 1895 Sql4 933s
Chi. Northwest R. r. 5s 1873 6Sss 6gat
Chicago Rock Island As 1894 oo34 -
Cleve. Lor & Wheel. rs 1888 05
Colorado & So. Ry 4'2s 1895 1ola 107.
Commercial Credit 5iss 1898 o. %
Delaware g. Hudson IS 1895 $3.50, a6
Den. & Rio Grande 4lzs 1886 81 34I,
Edison Elec. 1lum. IS 1893 1OO7s
Gen. Petroleum Corp. IS 1910 IOl7s I0o7a
Gen. Public Service 5l2s 1899 76ls ~
Grand Trunk Canada IS 1896 a5la a6',
Great Northern Ry. IS 1895 5ci. 53i,
Keystone Telephone 5s 1895 6S
Laclede Gas Lieht IS 1894 S4I, o07.
louisville &, Nashville 5s 1897 pa 1oI
New York Cent. & H. As 1894 6G31 80
n. Y. Chi. & st. L. As 1897 20 so
Northwest. Telep. 4i2s 1894 49, lo0o.
Penna r. r. Co. Gas 1886 1907. IOI
Portland Gen. Elec IS 1875 asI, 90
republic Iron & Steel rs 1910 45 rs
Sinclair Cons. Oil Co. IS 1897 g6 o-i,
ST. l. IMSR RAG As 1888 a. Az.
Southern Pacific IS 1884
Union Ell. 1t & Pow. IS 1888 IOOi4 lOI
Union Oil Co. Calf IS ly:}5 09i, 100
Virginia Ry. & Power SIS 1894 9gis 100
Wabash RWy. Co. IS 1899 So COS.
Evening star., 1933-03-28
Bid and Asked Prices.
BONDS.
PUBLIC UTILITY.

Barber Ross. Inc, 6l2s..... 30 -.
Columbia Country Club 5i2s.. 9S 100
b. C. Paper Mfg. IS. -. 10 -.
Wash. Mkt. Cold STORAGE 5s.. 81 "a
Evening star., 1933-03-28

Wheat feed prices were decidedly IT
regular after the middle of March with
no definite trend apparent. Production
of wheat feeds increased sharply.
Present flour mill activity exceeds that
of year ago. Cotton seed meal prices
averaged about unchanged. Linseed
meal soybean meal, gluten feed, gluten
meal and tankage prices were un-
changed to higher. A f1axseed crop IN
1888, not greatly different from last
years small harvest is indicated by far
mers seeding intentions. II average
yields are obtained. Farmers intend to
increase the acreage Of soybeans about
8 per cent.
Evening star., 1933-03-28

Dividend rates IN dollars based on last
9uartery or semi-annual payment az
dividend fPartly extra. tPlus 4s, in stock.
a apayaole IN cash or stock b Payable in
IN stock. g. Plus So IN stock. h Plus IL
IN IN stoek. @ Phys 2s In stock; ( Plus 10E
"a "a stock. m Pius 81 in stock. Plus e%
IN STOCK pPAtd last ysar-no regular rate
Evening star., 1933-03-28

N. Y. CURB MARKET
Received by Private Wire Direct to The Star Once.
Stock and
Sale

Stock and Sale
Dividend Rate. Add 90. High. Low. Close.
Alum Co America. .80Os AZ 40 AZ
Alum Co ofApf Y zoos 40 80 40
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-06-07
MITCHELL WARY
IN TAX CRILLINC
Former Banker Is Careful
As He Answers Queries
by U. S. Attorney.
BY SIDNEY B. WHIPPLE,
United Press staff Correspondent

NEW YORK, June 7.-Charles E.
Mitchell gave to the world Tuesday
the concluding chapters of his en-
crossing story - From Financial
Prince to Paper Pauper"
The ex-banker, accused of dodg-
ing $85O,000 in income taxes due
from his 100000 profits in 1929
and 1880, concluded his direct eX-
animation, and was subjected to the
beginning of what is scheduled to be
an exhaustive cross examination by
Prosecutor George z. Medalie.
Mitchell's mood and manner
changed with the change of exam
iners. Under the smooth, deferen-
tial questioning of Max D. Steuer,
noted criminal lawyer who is de-
Tending him, he had been aggres-
sive, dominating, forceful. AS Me-
dale took up the questioning, he
turned wary, careful, and at times
hesitant, as though he we're avoid
ing traps.
But throughout the questioning
Tuesday, he maintained, sometimes
with drastic eloquence, his position
that he today is poor man, and
that his comparative poverty has
resulted from his patriotic and al
truiStic endeavors to save his bank
= the National City - at a time
when many of the nations great
businesses were laundering in the
financial whirlpool Of 1890.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-06-07

bockers, fishing coat, fishing hat,
rubber coat, rubber boots and boot
SandleS or socks.
To be carried in the pockets are
the following:
Fly book, leader book containing
leaders on one side and small parts
for quick repairs on the other,
leader box, line grease, dry fly oil,
dark glasses, pocket knife and scis-
sors, magnifying glass, pins and a
bandanna handkerchief.
I'D has eliminated one item of
IL pocket equipment by combining
two in one. He has made a dry fly
oil that also acts as an insect re-
pellant.
The outside equipment includes:
Landing net, creel, rod, reel, line,
and whatever other articles he's
able to tote along without break
ing under the strain of the load.
Hewitt sets forth a rather extern
Sive outfit, but the tips on catching
fish in his book are the result of
f1fty-seven years of experience, and
are good fish getters.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-06-07
PINCH PRECINCT
DRY CHAIRMAN
DURING VOTING
Arrested After Clash With
Officer: to Go on Trial
June II.

Trial Of Owen D. Thomas, dry
chairman of the Fifth precinct.
Seventh ward who was arrested
Tuesday at the precinct polling
place, 325 North Liberty street, will
be held June II in municipal court
three, it was determined today after
Thomas clasheo with Paul Rockford
judge pro TEN.
Pending disposition of the case,
Rockford declared that Thomas, an
attorney, will be barred from prac-
tice in municipal court three.
Thomas was arrested on charges
of assault ana battery and resisting
an officer, signed by Joseph Ira
geSSer, deputy sheriff.
TrageSSer SAID Thomas and other
dry workers we're crowding the en-
trance to the polling place to such
an extent thAs there was interior
ence with voting.
Beat Him to Punch"
The officer said he ordered a
clearing, and that Thomas tried to
strike him.
Il beat him to it and landed the
first punch" TrageSser said.
But Thomas and his friends said
he was punched from sidewalk
by the officer, who struck him.
Thomas said he struck back.
There's going to be a lot more
to this" Thomas declared.
When the case was called for
trial this morning, Thomas pre-
scented a petition Tor change of
venue The petition contained the
formal allegations of bias and
prejudice"
when did you learn this court
was biased and prejudiced?" Roch-
ford asked.
only in the last few days."
Thomas replied.
Charged With Soliciting
Rockford handed back the petit
ton with the remark:
You didn't have TO file this, be-
cause 1 would not hear this case
anyway"
Thomas then filed a request for
a jury trial, which Rockford as
serted would not be granted. The
continuance to June II was agreed
upon, at which time Rockford said
some judge pro tenn. other than he
would be on the bench.
Recently Thomas filed a $4,000
damage suit against Otto Mays,
bailiff in municipal court three, al
leging the officer elected him from
the courtroom. Mays charged
Thomas was soliciting clients among
prisoners in court
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-06-07

Thomas Urban, 25. Springfield
employed at the mine, was shot in
the abdomen, and physicians be-
lieved he would die.
Both men and women we're in the
concentration Of pickets which
marched on the mine as employees
entered the shaft this morning.
The battle ragged until national
guard reinforcements we're rushed
from Taylorville to quell the dis
putants.
The pickets were members Of the
Progressive Miners Union. which
has been engaged in a struggle last
ing nearly year to break the
strength of the United Mine Work
ers Union in Illinois coal fields.