davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1933-08-18
ADVANCE
PARTLY LOST
BY COTTON

NEW YORK, Aug. 18 QN.S0.
After adding almost 81 a bale to
yesterdays spectacular advance Of
more than $3.50, cotton futures
today encountered heavy profit
taking and gains were pared
down.
Good Trade Demand
There was good demand from
the trade both here and abroad,
together with buying by Wall
Street and commission houses.
Hedge and Southern selling once
again made their appearance in
the ring and, combined with re-
aliZation offerings from outside
speculative sources, brought a
moderate recession from the highs.
Renewed talk of initiation gave
impetus to buying. No more
definite information as to infla-
ton was at hand, however, than
in previous sessions.
More Weevil Reports
Scattered showers appeared,
and a few rains at widely sepa-
rated points. Temperatures con-
tinued about normal. Additional
reports of weevils were coming in
and there was talk of deteriora-
tion.
Midday prices were up 6 to
points with october up 8, at 9.45;
December, up 6 at 966; March,
up 7, at 9.95, and May, up 8, at
1903.
The Washington times., 1933-08-18
BROKERS LOANS
RISE IN WEEK

Loans on stocks and bonds to
brokers and dealers by reporting
Federal Reserve member banks in
New York city increased $14,-
100000 during the week ended
August 16 to a total of 1884,
100000. This compares with
$3.50, 100000 on August 9 and with
$344, 100000 a year ago.
Demand loans constituted $685.
100000 of the total, compared
with 1925, 900 900 last week. Time
loans were unchanged at $685.
100000.
Loans on securities direct to
non-broker customers by reporting
member banks in New York city
increased $3,O00,000 during the
week to a total of $1,036, ,000, 900.
This compares with $1,033, 900, 900
last week and with $1,342 900, 900
a year ago.
The Washington times., 1933-08-18
NEW EXCHANGE
CHECK NEARS

NEW YORK, Aug. 18 U.N.S).
The New York Stock Exchange is
working on a plan which will di-
vorce the security commission
business from that of investment
banking, it was learned today.
Several proposals are before the
exchanges board of governors, all
with the main idea Of dividing
the business of member firms into
two main divisions:
/. Straight commission broker
age, that is as agent for buyer
or seller of securities.
2. Investment banking, the
underwriting and retail distribu-
ton of new security issues.
The reform will affect big COM
mission houses like E. A. Pierce &
Co.. Hornblower & Weeks, Domi-
nick & Dominick, j. S. Bache &
Co., c. D. Barney g. Co.. Redmond
& Co., and Fener, Beane & Unger-
leider, all of which have under
written and distributed new Sc
curity offerings.
The Washington times., 1933-08-18
SETBACK SHARP
FOR DOLLAR

NEW YORK, Aug. 18 GN.S0.
The dollar suffered another sharp
setback in terms of European cur
rencies, dipping to 72.5 cents gold
against IS cents gold at the high
yesterday.
Sterling ran up to $4.53A:
rench francs were up 512 points
at .38; Swiss francs 7 points at
26.35; belgas, 7 points at 1905,
and guilders, 20 points at $50
cents.
Marks led the restricted gold
exchanges with gain of 10 points
at 1885 cents. Pesetas and lire
were moderately higher.
Scandinavian exchanges gained
from S to 7 points in sympathy
with the pound and the Canadian
dollar advanced one-eighth of a
cent to 9412 cents.
The Washington times., 1933-08-18
Reserve Report Shows
Business Expansion
Nv International News Service

By international N0"b CoANiSO
Indicative of the gradual i'm
provement in the general busi-
ness situation, loans both on
securities and those Of CONNER
cial character at the New York
and Chicago member banks
showed substantial increases for
the week ending August 10, Eu-
gene r. Black, governor OF the
Federal Reserve Board, an
nounced today.
The reserve banks continued to
buy Government securities in
small amounts during the week,
having increased their holdings
by $11,000,000 to a total OF 81
O59, 100000 That was an In
crease of $2O8, 100000 over the
year before.
The banks also held $166,000,-
900 in bills discounted, an In
crease of $10,000,000 for the week
and $7,OOO,OOO in bills purchased,
a reduction of $1,000,000 for the
same period.
Money in circulation on August
16 totaled $5,612,000,000, an in
crease of $4,000,000 for the week
and $94, 100000 under a year ago
The increase was less than usu'
ally occurs at this season.
Gold continued to flow back
slowly from circulation, there
having been an increase Of $5,-
10000 in the gold reserves OF
The Washington times., 1933-08-18
CORN IS LEADER.
IN NEW GRAIN
UPSN|NG

CHICAGO, Aug. 18 U.N.S)-
Grains continued their advance
in forenoon dealings here. Corn
again assumed leadership, and al
though considerable realizing de.
veloped on bulges, a firm, tone
prevailed. The market was some-
what calmer than yesterday as
trading took on more normal
aspect.
Corn Up 4 Cents
Corn advanced almost 4 cents,
the limit for one day, before re-
acting somewhat. Support con-
tinued good.
Near noon wheat was "a to 10
higher, corn 212 to &c up, oats
70 to 15sc higher aand rye l to
lac higher.
Liverpool wheat was y to 11sd
higher, Winnipeg 70 to 24c up
early.
Tone Is Confident
Trade in the markets here dis.
played a more confident ton fol-
lowing yesterdays bullish demon
stration, and reports were current
that it might not be necessary to
accord further support by fina1-
cial interests.
Estimated carlot receipts were:
Wheat, 30; corn, 90 and oats, 81.
The Washington times., 1933-08-18
POWer Firm Income
Is LOUer for Year

NEW YORK. Aug. 18 G.N.SO.
National Power and Light Com
pany. Electric Bond and Share
unit. net income for IL months
ended March 81. amounted to ST.
770,465, equal after preferred
dividends, to Slip common
share, compared with $10,688,271,
or $1.65 share in the preceding
IL months.
Annual report for 1882, issued
with the IL months report, show
ed a net income of $8,545,780. or
$1.26 a common share, against
$10,804,754, or $1.67 a share in
1881.
The Washington times., 1933-08-18
Week Reveals Gain
For Bank CLeGringS

Bank clearings again show
quite a decided change for the
better. The total this week at
all leading cities in the United
States, as reported by Dun &
BradStreet, Inc. of $4,477, ,628, 900
was SO per cent higher than the
amount year ago.
At New York city, clearings
were $3,16O,751 900, an increase
of 1875 per cent. while the ag-
gregate for centers outside of
New York of $1.316,877, 900 was
O.5 per cent lower.
The Washington times., 1933-08-18
S. 0. Employees
To Get Stock

NEW YORK, Aug. IS
U.N.S).-To provide shares
for this years emplOye stock
plan, Standard Oil Company
of New Jersey today applied
to the New York Stock Ex-
change to list 100000 addi-
tiOnal shares.
Employees get the stock,
which closed at S38.1212 last
night, at S34 a share.
They may subscribe for an
amount equal to 10 per cent
of their salary, and the COM
pany adds so cents on each
dollar paid by the emplOye.
The Washington times., 1933-08-18
DeLGlUdre Tomatoes,
Wntern1eLOns Short

Delaware will ship about 22,-
900 bushels of tomatoes to mar
ket this season, compared with
$4,000 bushels last year, accord
ing to an estimate by Richard c.
Ross, agricultural statistician for
the State at College Park, Md.
About 100000 watermelons will
be harvested, a reduction Of Is
per cent from the 1882 crop, he
forecasts.
The Washington times., 1933-08-18
Business Moderate
In Liverpool Spots

LIVERPOOL, Aug. 18 Q.N.S).
Moderate business was done in
spot cotton at the opening today,
with prices steady. Receipts to-
tailed $4,000 bales, including 11,1OO
American bales.
At midday middling fair was
quoted at 6.86d; strickly good
middling. said; good middling,
Slid; strictly middling, 5.81d:
middling, 5.66d: strictly low mid
ding, 5.51d; low middling, 5.31d:
strictly good ordinary, slid; and
good ordinary, 4.81d.
Futures opened steady, with Oc-
tober at 5.49d; January, 5.55d;
March, 5.59d, and May, 5.63d.
The Washington times., 1933-08-18
Reading Company
Profit for Common

NEW YORK, Aug. 18 G.N.S0.
Reading Company reports for six
months ended June 80 a net in
come of $1,711,447, equal after 4
per cent non-cumulative first and
second preferred dividends to %
cents a common share.
This compares with $938,102, or
As cents a second preferred share,
after first preferred requirements,
in the like 1892 period.
The Washington times., 1933-08-18
Nickel Plate Gross
And Net Increased

NEW YORK, Aug. 18 G.N.S0.
The New York, Chicago and ST..
Louis Railroad today reports in
creases in July gross and net,
the third successive road to show
improved earnings over July,
1882.
Net operating income amount
ed to $783,634, compared with
$102,350 in the same month last
year. After all charges, there
was a surplus of $237,084, con-
trasted with a deficit of $5O5, ,693
a year earlier. Gross revenues
totaled $3,O29,090, against $2,-
252,942.
The Washington times., 1933-08-18
DIMENSION STONE CUT

During the past three years
the dimension-stone industry has
declined sharply, the Bureau of
Mines reports. The value of the
output in 1923 is estimated at
$28, ,7O6, 900, represented by ton
mage of 1,942,OO0 against an out
put in 1881 valued at SAT .149,-
557 for a tonnage of 1894, ,920, or
a decrease Of 80 per cent in
value.
The Washington times., 1933-08-18
Cheering News
OF Business

Reserve banks loosen up
$50, 100000 credit in week. :.
Sears-ROebuck sales in four
weeks ended August 13 near
ly 100000 above year ago
-. Acceptance volume up
51,584,513 in July, best
months rise in two years. E.
New York Life Insurance
Company assets above ST.
900, 100000 first time in his
tory. Great Lakes shipping
shows big increase Celan-
est Corporation adds 4,5OO to
payrOllS. Bank clearings of
country make gain in week.
The Washington times., 1933-08-18
United Corporation
Passes on Common

NEW YORK, Aug. 18 G.N.SO.
The United Corporation, Morgan
sponsored utility holding COM
pany, has omitted the quarterly
dividend of 10 cents a share due
on the common stock. The COM
pany has been on a Accent annu-
al basis since April, 1882, prior
to which rs cents yearly was
paid.
Regular quarterly preferred
dividend of IS cents was de-
clared payable october 2 to stock
Of record, August 81.
The Washington times., 1933-08-18
Closing Is Strong
For London Stocks

LONDON, Aug. 18 Q.NSO.
Stocks closed strong all around
on the London exchange today.
British funds, however, were
easy.
Silver was up 1s, spot at 177s
pence an ounce and futures at
l8.
The Washington times., 1933-08-18
Sperry Corporation
ReDOrtS Net Income

NEW YORK, Aug. 1S G.Ns0.
Sperry Corporation had a net
income of $279,279 in the four
months ended June 80, equal to
IA cents a coptial share.
A profit of $39,812 on sale of
North American Aviation stocks
was credited to earned surplus.
The Washington times., 1933-08-18
EXPOSITION RECEIPTS

Auditors report that the Cen
tury of Progress Exposition shows
receipts of $13,211,214 as of mid
night August 13, not including
sale of 2,193,255 tickets sold be-
fore opening.
The Washington times., 1933-08-18

the reserve banks in the week
ending August 16. Total gold
reserves amounted to 1882, 1877
900 compared with $2,727 ,457 900
a year earlier.
There was a small reduction
in the circulation of Federal Re-
serve notes and a gain in Federal
Reserve Bank notes.
The Washington times., 1933-08-18
NAVAL STORES

NEW YORK, Aug. 1S G.N.sD.-Lin-
seed oil per ID. 1O.4 carlots. Turpentine,
Savannah, AZ. New York, ~. Rosin,
Savannah, so: New York, 49e.
The Washington times., 1933-08-18
N. Y. STOCK QUOTATIONS
Continued from Preceding Paqs)

Prev Name and - Net
875S IL Youngstn T q 26A 9eh- af
81 4 Zenith Radio..... "a "a ~
SO 3% Zonite Products. SO sat u
Optional stock cash tb, Partly extra C., Extra
stoc (d) stock. (e) Paid this year.
Payable stock (m) Payable in scrip (n) 81 IL
stoc With (xw) Without warrants
Ex 90 Ex-rights
Dividend rate in parenhess. (Note) Extra
dividends through regular dividend period.
Evening star., 1933-04-26
OF STOCKS
ON BROADER SCALE
Observers Compare Present
Trading to Start of Cool
idge Bull Market.
BY the Associated Press.

BY the Associated freSS.
NEW YORK, April 26.-Wall Street
brokers may be described as 'nervously
happy|ov the abundance of commits
sions which have been dumped into their
laps since the middle of last week.
disappointments, and having seen the
public interest In security and COM
modify markets almost at the vanishing
point, the brokers admit they feel that
there Is something fantastic. something
unreal, about the great public scramble
to buy equities and staples.
4Jespite the golden stream Of commits
sions, the brokers fear to permit them
selves a sense of jubilation, lest the
whole affair turn out to be just an inter-
lude Of pleasant dreams In the long
nightmare of shrinking business.
It is agreed In most Wall Street quar-
ters that the present resurgent swing IN
markets Is made of different stuff from
that which brought about the periodic
jumpy and short-lived rallies OF the past
two years. From all indications con-
siderable section of the public Is IN the
markets at least knee deep. which dis
tinguishes the present affair from the
earlier swings brought about largely by
the buying Of professional operators.
Call it the new deal market, or the
imitation bun market, or give 1t any
name you will, 1t Is part IN form ana
substance, the brokers insist, from any
thing that has been seen before.
The things that have been going on
in the stock market, despite their un-
precedented character and background,
supply both a contrast and an analogy
to the Coolidge bull market which
started in November, 1924, according TO
some Wall Street observers.
The resemblance is in the broad re-
entry of buyers after three or four
wears of negligible public interest The
difference is in the feeling of insecurity
and uncertainty with respect to the
dollar which is the motivating innuence
of the present buying wave. as against
the confidence and optimism whlcn
generated huge buying IN equities IN
1928.
incidentally, the great expansion in
business has helped to ease the man.
cial districts employment problem.
fair number of workers have been re-
called to take up their old duties as
margin clerks, bookkeepers and so forth,
and II the volume on the Stock EX-
change continues at anything like the
present rate for a few weeks more, many
more Jobs will be created, in all proba-
bility
The brokers, however, have not for
gotten the. evaneScent boom OF last
Summer which some of them felt
marked the turn in the tide.
The move flattened out as suddenly
as it began and most Of the newly hired
workers were again turned loose.
Evening star., 1933-04-26
Grain Market
BY the Associated Press.

BY the Associated PresS-
CHICAGO, April 26-Quick rallies in
grain values took place early today
after two setbacks at the opening.
Initial weakness was ascribed to Sc
we're break in British exchange. and to
weakness of silver, cotton and securi-
ties at New York.
Wheat buying was based largely on
prospective prompt senatorial approval
of imitation. Opening unchanged to
IL down, wheat later rose above yes
terday's finish. Corn started unchanged
to sa of, and subsequently advanced.
In a broad active market with pur-
chasing led by Eastern interests. wheat
soon mounted in some cases to about
two cents over early bottom figures.
New strength in stocks and rallies in
cotton helped to lift wheat. Attention
was also given to advices that despite
rains, the crop outlook continued bad
in Kansas, Oklahoma and Texas. with
indications that throughout the bulk
of dry territory the rains came too late.
Predictions of enlarged demand for
immediate delivery of domestic wheat
to mills were current. This was as
sociated with announcement that the
Red Cross had ordered out the last CT
its wheat. Word that the Anglo-Rus-
sian trade war was in effect today,
shutting out Russian cereals from
Great Britain, was construed as bullish
regarding wheat in North America.
Corn and oats ranged higher with
wheat.
Provisions averaged lower, responsive
to action of hog values.
Evening star., 1933-04-26
BONDS IRREGULAR
ON PROFIT TAKING
U. S. Treasury Group Is
Steady-Foreign Dollar
Loans Lower.
BY CHARLES F. SPEARE.

Special Dispatch to The Star.
NEW YORK. April 26.-Considerable
irregularity characterized the move
ments in all classes of bonds today The
market has lost some of the speculative
character of last week, and profit.taking
on substantial scale has replaced the
heavy buying that followed the first re-
sponse to gold suspension. Special issues
rather than groups of bonds are now
prominent, with sharp advances in few
in contrast to wavering tendencies in
others.
The United States Treasury list was
on a more normal basis, with f1uctua-
tionS of small size, but with the market
for most of the issues steady. The first
Liberty 3las touched 10l early in the
day. The fourth Liberty 4l4S were
slightly lower. while insignificant gains
occurred in the premium and discount
loans. Announcement was made that
the new 27s per cent 3-year notes have
been overSubScrlbed.
Foreign dollar bonds were generally
lower in the first half Of the session.
Loans of countries still on gold were
heavy as we'll as others. Belgian issues
were significantly weak, with declines
of IL, points in the rs. French Is lost
2 points. Dutch 6s and Italian rs were
each down point. German government
bonds and other German issues lost l
to 3 points Canadian government IS
have been slipping for several days and
are close to the low Of the year.
In the domestic list a feature again
was the strength of the bonds OF the
communication companies. such as
Western Union 5s. Postal Telegraph IS
and International Telephone i2s. An
other strong spot was the Warner Brcs.
Pictures IS, at the high of the year.
showing a 100 per cent gain from the
low. Oil bonds were heavy except Sim
clair rs. which rose a point. National
Dairy Products 5l4 S and Goodrich 612s
made small advances while American
Smelling & Refining 5s, with point
rise. touched the best figure of the year.
The railroad list was extremely ir-
regular although there were more gains
in it than losses and high-grade issues
acted we'll The largest advance in any
active member of this group was in
Chesapeake Corporation SIS, which
gained points. Rock Island issues
were steady on the announcement that
May l interest would be paid. Cana
dian Pacific loans were heavy.
Evening star., 1933-04-26
Dollar Makers
BY GEORGE T. EAGER.

The sales manager of -four company
that had developed an exceptionally
fine cake flour had never been able to
sell 1t to a chain of commercial bakeries
on account of its higher price.
He attacked his prospect from another
angle by using the help of the food ex-
pert employed by his company. She
developed new kind of cake that re-
quired this special flour and accom-
panied the sales manager in call on
the head Of the bakery. Samples Of
the finished cake, together with the
recipe, as well as cost calculations f1g-
ured to the necessary fractions Of
cent, were presented
The idea was accepted and tried out
in one store. Within three weeks sales
reached 25 dozen per week and the new
cake was offered in all stores and new
outlet established for the cake flour.
In the course of the negotiations the
head of the bakery mentioned that he
had never been able to sell his bread to
large drug chain. The sales manager
Immediately saw the opportunity of
further service to his new account. He
offered to the bakery the services of
his food expert for week. She worked
out new ideas for bread dishes and
sandwiches made to suit the drug
chains luncheon trade. They were sue
cessfully used in closing an order that
linked the -four company still closer to
its new customer
Copyright 1881
Evening star., 1933-04-26
Washington Produce
WHOLESALE PRICES.

Butter-One-p pound prints (93 scorel,
27; tub, 26 one-pound prints (92
score, 26; tub. 25; one-pound prints
(e1 score), 25; tub, "a; one-pound
prints 80 score), "a; tub, %.
Eggs-Hennery, 12i2al3; current re-
ceipts, 1112a12; Government graded,
extras, 1872; standards, 16l2; mediums,
Poultry, alive Turkeys. hens, Is;
hens. l2al3; Leghorn hens, eal0;
roosters, SAT; Plymouth Rocks, broilers,
15a251a; Leghorn, broilers, lsa2l; !;
fryers, 17a1s; roasters, l7als; mixed
colored chickens. 14al6; keats, young,
25a4O: old, 15a20: capons, 25; slips. IL.
Poultry. dressed-Turkeys, hens, IL;
toms, is; chickens. hens. 15al6;
Leghorn hens. 49, roasters. 9alO'
Plymouth Rocks, broilers, 18a28; Leg
horn, broilers, 22a24; fryers, 2oa2l'
roasters, 2Oa22: mixed colored chickens,
17al9; keats. young, 28a43' olo' 1oa|''
capons, %; slips. 2l.
Meat+Beef, Il; veal, IL; lamb. IL;
Spring lamb. Is; pork loins, To-; fresh
hams, 12 smoked hams, 13; strip bacon
l3: lard, 712; compound, 7.
Live stcck-Hogs, light 3.60a3.75; me-
dunn. 36Oa3 95; heavy, 3.5Oa3.9O pigs,
.EO
500; Spring lambs, 400a700.
Fruits Cantaloupes, 900; water
melons, 75a15 peaches, $50; apples,
box stock, 150a2.00; pears, 3.OOa3.5O;
alligator pears, 3.00a350; bananas,
1.5Oa2.50; oranges, 2.50a350; lemons.
4.OOa4.5O; grapefruit, 2.00a3,50; grapes.
35Oa4. 90; Strawberries, 350a6.00; pine
apples, 600; rhubarb, per dozen
punches, so; cranberries, 325; honey
dews, 175a2.25; lines, per 100, zoo.
Vegetables - Potatoes. Maine, lbs:
New York. ITO; Florida, new. barrels,
4.5Oa5 90; Idaho bakers, 1.75a2 90;
sweets, 5Oa6O; cabbage. new, local .25;
turnips. rs; parsnips, 1.25al.50; celery.
2.5Oa2.75; lettuce, Iceberg, 3.25a3.5 SO;
Florida, 1.25al.5O string beans, 1.5Oa
200; limas, 1.50a2.50; eggplant, 2.75a
800: tomatoes, repacks, Span, 2.00a
800; Jugs, 250a3.25 caulif1ower, 1.60a
Its: carrots, crates, 1.25al 40; beets.
crates, 1.25a1 40; okra, pan, IS; aspara-
gus, 1.25a250; spinach, 50a75; kale, 4Oa
so; Spring onions, per 100 punches.
100; squash, 100a2.00; satisfy, per dozen
punches, 60; cucumbers, bushel. 4.50a
500; hothouse, 2-dozen boxes, 2.00a2 SO;
pees. 1.75a200.
Evening star., 1933-04-26
CURB SHARES FIRM
AFTER EARLyL0S
Market Leaders Show Frac'
tionaI Recovery, but
Trading Is Small.
BY JOHN A. CRONE.

Special Dispatch to The Star.
NEW YORK, April 26-The Curb
Exchange steadied after opening lower
today. Volume lightened on the re-
covery.
The usual market leader. Electric
Bond and Share, moved forward frac-
tionally. Then American Light q
Traction, American Gas & Electric
and Standard Oil Of Indiana improved.
but Cities Service receded.
The best showing of electrical output
for this year, as recorded in the weekly
statistics today, was responsible for the
improved tone in many sections OF the
power and light securities. The oil
shares, however, failed to respond to
the lowered output last week, because
of the emphasis placed on the East
Texas field expansion.
A rally in motor securities. some bet
terment in food, specialty and fuel
shares, along with the brighter tone In
metals featured the forenoon recovery.
Cord Corporation rapidly rose to new
heights. Then Ford Motor Of Canada
A. Ford Motor Ltd, and Stutz Motors
braced.
Quaker Oats, with squirt of more
than points, was the first Of the food
stocks to enter new high territory.
Later Northwestern Yeast similarly
performed Great Atlantic & Pacific
Tea early exhibited signs Of strength.
Singer Manufacturing and Royal
Typewriter led the specialties into new
maximum price levels. The advance
of rayon prices bettered companies
making that synthetic textile. Some
of the miscellaneous steel or allied In
dustrial shares stiffened as a result OF
expanding operations and flrmer scrap
quotations.
Silver shares remained steady despite
profit taking in some world centers on
speculative accumulations Of the white
metal. New Jersey zinc opened on 2
points. Aluminium Co. OF America
common was up several points at ore
time. With the metal market showing
an improved tone, some Of the copper
stocks. like Roam Antelope and Hud :
son Bay, turned upwards. but that
trend was not followed by domestic
mining companies.
Glen Alden Coal and Lehigh Coal &
Navigation hardened on better business
prospects. Although expanding indus
trial operations should benefit the
natural gas industry. its shares showed
no activity. Pipe lines Jagged. Gains
and losses about balanced in aviation
stocks Tobacco stocks were dull as
traders expressed some doubt about
future price trends and how revisions
would affect various companies. In the
store shares Walgreen eased.