davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1933-10-09
BOND DEALINGS
MOSTLY QUIET
AND FIRM

NEW YORK, Oct. 9 GN.sJ.
The bond market maintained
quiet firmness today, with changes
largely in the direction of higher
levels.
Rails Improved
Rails were fractionally i'm
proved, with price gains noted
in Chesapeake Corporation SIS,
Erie SIS of rs, Illinois Central
4As, New York Central 312s,
and Southern Pacific 412s of 81.
Atchison general 4s was again
in demand in the investment
group.
United States Governments
were dull, with Treasury Is up
and Treasury 33ss of Al off.
High grade utilities were firm,
with American Waterworks SIS and
American Telephone IS Of 80
up fractions.
Foreign Group Quiet
International Telephone SIS and
Warner Pictures IS were leaders
in the domestic section.
United Kingdom As sold off
11a points in a quiet foreign
group.
The Washington times., 1933-10-09

evils exist, but do deny that
governmental action can cure
them.
Believe the benefits that are
sought can be obtained by
sticking to maximum hours and
minimum wages which can be
fairly well enforced.
Have no axes to grind, and
will do our best to work under
whatever is finally approved.
Hesitate to give unaSked Opin-
ion, but think you should have
it,"
Note the spirit. A loyal citizen
sees difficulties in a proposed
"plan" and wires the chief his
thought in a constructive way.
The philosophy is that unless
the members of a trade are in
sympathy with a Government
plan, that plan cannot be sue
cessfully enforced. 1t was this
that made the prohibition eX-
pertinent fail.
Rules Illogical
The logic is that uniform rules
fixing prices on a basis Of costs
when costs are different among
individual companies and are i'm
possible to determine, cannot be
enforced.
In it's attempt to restrict COM
the Recovery Admins
tration has experimental with
The Washington times., 1933-10-09
OIL SUPPLY PUT
At 10 YEARS

Crude oil now known to be
under the ground in the United
States will provide about 1917
years supply at the present rate
Of consumption, it is estimated in
the current number of the T. S.
Hose Review, which states that,
even with proration lifted it would
require about Is years to get all
Of this oil out of the ground.
There are in storage, says the
review, approximately one-third
Of years supply of crude oil,
which cost, with storage charges,
about $2.77 a barrell. Those who
own this oil in storage are justi-
fled in not becoming greatly con-
cerned over their apparently
frozen asset, as present indica-
tions are that within two years
it will be impossible to maintain
supply of crude sufficient to
take care of demand.
Since 1931-1932 there have been
few extensive drilling campaigns,
and comparatively few additional
reserves have been discovered,
with the result that a recent sur
vey shows that recoverable oil has
declined about 585 900, 900 barrels.
The Washington times., 1933-10-09
G|NN|NGS SHOW
LOWER GRADE

Cotton ginned last week was
lower in grade and about the same
in staple, on the average, for the
United States as whole as COM
pared with that Of the week be-
fore, according to the weekly re-
port by the Bureau of Agricultural
Economics.
The proportion of strict mid
ding and better was slightly less
than that of a week ago, whereas
the proportion of white middling
was about the same. The propor-
ton of spotted and yellow tinged
increased.
There were decreases in the
proportion of spot and yellow
tinged in the Southeastern States,
but this was more than offset by
the decided increase in Texas,
Oklahoma, and the States along
the Mississippi River, with the eX-
ception of Louisiana.
There was a slight decrease in
the proportion of untenderable
cotton for the week.
The Washington times., 1933-10-09
Lumber Bookings
Best in 10 Weeks

Lumber orders booked at the
mills during the week ended Sep
tember 30 were higher than any
week since mid-July and produc~
tion was slightly above that of
the previous week. according to
reports received by the National
Lumber Manufacturers Associa-
tion here.
Production totaled 192,164, 900
feet; shipments, 100000 feet,
and orders, 1902. 900 feet.
During the nine months ended
September 80, production was
Is per cent above that of similar
period of 1882; shipments were
IA per cent above those Of the
1882 period, and orders received
were Is per cent in excess of
last year.
The Washington times., 1933-10-09
Many Obstacles Faced
InU. S. Price Fixing

the idea that prices should not
be below costs. and many codes
contain such a provision.
This, at first glance, seems fail
enough. But experience and rea-
son both show that there are
two great difficulties.
The first one is that in many
cases you can not find out what
cost is. Perhaps the most prac-
tical way to drive this point home
is to recall the fact that hardly
any two companies agree on what
is the true way to figure total
cost.
Hard to Influence
Try to get an industry to apply
uniform cost system" Gas
have), and you will find the diff.
ficulties. They include deprecia-
tion, interest charges, value of
raw materials, ETC., etc.
The fact is that the costing of
particular products must often
be arbitrary. 1t must depend, in
many cases, on the price to be
charged. This makes it impOs-
sible to base the price on the cost
The second great difficulty lies
in the wide differences among the
costs of individual companies.
Companies have to sell each
product at about the same price
CThey certainly do under a sys-
TEN of price fixing). But their
costs differ. and no two have the
same cost.
Now, whose cost is to be taken
as the basis in fixing the price?
You see, there is to be one price
but there are as many costs as
there are companies.
Off Either Way
# the price-fixer takes the
average cost for all the companies,
then those whose costs are higher
must lose money.
If he takes the highest cost Of
all the companies, then the price
must be fixed so high that con-
sumption is checked and some
companies make a huge profit on
each sale. This gives them such
strong urge to get more bust
ness that they find a way to 20
after it, and the price-fixing and
regulations break down.
The consumers advisory board
of the NRA is opposing the cost
price sections in many codes on
the ground that they tend toward
price-fiXing practices which would
be "intolerable" to the consumer,
The Washington times., 1933-10-09
COTTON STEADY
IN SPITE Of
REPORT

NEW YORK, Oct. 9 0NSJ.
Although the Government cotton
crop report issued today showed
an increase of 1000 bales over
the previous estimate, the market
had been pretty we'll evened off
and reopened steady.
Trading was exceedingly quiet
with hedge, Southern and COM
mission house selling offsetting a
demand made up almost exclu-
sively of price fixing for the do
mestic and foreign trade. Far
Eastern interests were moderate
purchasers.
Conditions during September
were unusually favorable for ma
turing late bollS. In most parts
Of the belt the crop is mature and
has made good progress under
favorable conditions.
Midday prices were off IL to IS
points with December off IA at
9.28, January off IS at 9.35,
March off 13 at 9.53, and May off
IA at 9.68.
The Washington times., 1933-10-09
TRADE BALANCE
DUE To TURN

August imports, which have
been rising since this country went
off the gold standard, reached
the total value Of $155, ,000,0 900, the
Ahighest since october, 1881, and
$24, 900, 900 in excess of the value
\of exports.
Trade experts of the Depart
ment Of Commerce attribute the
increase in imports primarily to
heavy buying by American i'm
porters who wanted to stock up
on foreign goods before the de-
clining dollar dropped still lower
in value.
Other factors in the imports
again were the expansion Of busi-
ness activity in the United States,
prompting the replacement of de-
pleted or low stocks of goods, and
some actual increase in consump-
tive demand for certain foreign
products, notably rubber.
Government experts express the
opinion that the unfavorable
trend soon will be corrected.
The Washington times., 1933-10-09
FISHERS INDEX
DIPS 8 POINTS

Prof. Irving Fishers index of
wholesale commodity prices de.
clined 3 fractional points during
the week ended October 6, follow
ing the drop Of 2 fractional
points in the preceding period.
This brought the index figure
to I'll. compared with TIA in the
preceding week. with recovery
high of 71.6, with low of $50 on
March 3 and with average Of
GIL in october, 1882.
The index averaged 71.2 in
September, compared with 70.5 in
August and 62.7 in September,
1882, and was the highest for
any month since May, 1881.
Purchasing power Of the dollar
advanced to 140.7 from 140.1 dur
ing the week, this compared with
low Of 1897, with high Of 1917
and with average Of 1885 a year
ago. September average was
140.4, compared with 141.9 in Au-
gust and 1895 in September, 1892.
British index of prices dropped
to 64.1 from 64.2 in the period.
This compared with low Of 58.7
and with average Of 62.8 a
year ago.
The Washington times., 1933-10-09
Wholesale Motor
Financing Mounts

Wholesale financing of automo-
biles showed sharp increase dur
ing August from the previous
sgnorth, according to the Census
Bureau.
Reports from 382 organizations
show $7O.338,090 advanced during
the month, compared with $685.
602. .469 during July.
Retail financing totaled $73,-
216,618 on 206,276 cars during
August. This compares with 4
July total of $67,119,449 on 189,-
A68 cars.
The Washington times., 1933-10-09
Stability Seen, But
Trade Conservative

In its weekly summary of busi-
ness situation. Standard Statistics
Company says conservatism still
dominates business enterprise,
largely in reflection of monetary
uncertainties and the lack of a
clear understanding of the future
policy of the Administration with
respect to prices.
Until these prospects can be
gagged with some degree Of
clarity, no basis will exist for re-
sumption of the forward move
ment on a broad front, it finds,
but relative stability appears in
near term prospect in most lines
at approximately present levels.
The Washington times., 1933-10-09
GRAIN FUTURES
BEND UNDER
PRESSURE

CHICAGO, Oct. 9 G.N.SO.-
Grains continued under pressure
in early dealings here today, val.
ues scoring further losses as buy.
ing support remained light.
Wheat futures were carried
down 13s to lac; May selling at
soc, and December, S424c. Corn
was 2s to 7sc off; corn, 70 to 1hc
down, and rye, "a to 3sc up.
Weekend market influences
were colorless with a bearish cot
ton report prompting some selling
of grains.
Liverpool wheat was unchanged
to 9sd lower. The Winnipeg
market was closed on account Of
holiday.
Estimated carlot receipts we're:
Wheat II, corn 437, oats 16.
The Washington times., 1933-10-09
PLAY ON LIQUOR
SHARES CURB
FEATURE

NEW YORK, Oct. 9 G.NSO.
a period Of activity and strength
In alcohol shares provided the
only feature of interest in a dull
and istless curb market session
today.
Peak for National DistiIlerS
National DiStillers new took the
play in the repeal list, advancing
to a new high.
Aluminium was the standout
issue among the specialties.
Utilities maintained a firm tone
with American Superpower show
ing the way.
Gold shares were sluggish on
the lower quotation for the yellow
metal.
New Leader in Oils
Darby Petroleum, a comparative
newcomer to the list of active
issues, was the feature in the oil
group.
The Cities Service issues were
easier.
Curb bonds were quiet.
The Washington times., 1933-10-09
NEW YORK PRODUCE

NEW YORK. Oct. 3 (NsD.-Buttsr
quiet and firm; salted and unsa lted
creamery, higher scoring, 2412 q csc;
creamery extras. 4d25c: creamery
firsts. 1S924c; ladies, fresh extras
171s @1Sc.
Cheese-Quiet average run. 1217 613c.
Wisconsin, whole milk. fancy young
Americans. 12% 1S12c.
Eggs-Quiet and easy. Nearby white
specials, 35@3Sc; standards, 33@341bc;
mediums, 26d 29c; nearby brown spe-
cials ESQ 36c: standards. csc; mixed
specials, 25632c; standards. 236244ac;
firsts, 19@21c: seconds. 1701sc; me-
dunn 16d 16I2c. Pacific Coast white
fancy packs, 37G 29c; standards. SIG
SIC: mediums, 26 a CSC.
The wholesale price is $2.23s per 100
pounds No. 1 fluid milk within the
2O1- -210-miIe zone
The Washington times., 1933-10-09
Short Interest
AT New Low

The New York Stock Ex-
change short interest drop
ped 26,999 shares during
September to a total Of S75,.
900, the lowest since the ex-
change started compiling the
figures in 1913!
This compares with 901, ,999
shares on August 81, 972,613
on July 81 and 1,417,637 on
June 30.
The short interest prOba-
bly, was considerably larger
some time during the month
since the usual trend Is for
the position to increase as
the market rises, as it did up
to the middle Of the month.
The Washington times., 1933-10-09
September Sales Off
For General Motors

NEW YORK, Oct. 9 GN.SD
General Motors Corporation today
announced sales Of II ,458 cars and
trucks to consumers in the United
States in September, against 83,-
372 in August and 34,694 in Sep
tember last year.
The rise over a year ago, which
amounted to more than 100 per
cent, continued the sharp recov-
cry in the corporations business
from the low point of the March
banking holiday.
The drop from August was
seasonal and was generally anti
pated.
The Washington times., 1933-10-09
August Shoe Output
Is 36.89O,956 Pairs

Total production Of boots and
shoes, other than rubber. during
August amounted to 36,890,956
pairs, compared with 33,749,1 in
July, according to Bureau of the
Census. Production during August
a year ago was 3O,784,991 pairs.
Production so far this year has
run substantially ahead of last
year, the Bureaus compilation
shows. During the January
August period production was
243,774.152 pairs compared with
201 ,090,807 during the like period
last year, an increase of 21.2
per cent.
The Washington times., 1933-10-09
GAINS ARE HELD.
BY CHAINS
BY international News Service

Sales of important chain store
organizations that have reported
for September indicate the in
crease as compared with last
year ran on about the same
level as during August.
The showing for September.
however, was aided by the in
clusion of five Saturdays, com.
pared with four in the 1882
month.
The first six novelty chains to
report September figures showed
aggregate sales of $42,138,567 as
compared with $37,312,623 in the
corresponding month year ago,
an increase of 1873 per cent.
During August the same com.
panies did business of $780,.
228,256 as compared with $34,.
715,940 in August, 1882 an ad-
vance of 12,9 per cent
The Washington times., 1933-10-09
New York City Bank
Stocks In SLiqhtLu

The aggregate value of the 16
leading New York city bank stocks
as compiled by Holt, Rose &
Troster, ended the week at 1885,
656,000, compared with 1881
012,00O at the close of the pre-
vious week an increase of 5,644,-
900, or 0.44 per cent.
The current average yield of
the Is stocks of 500 per cent
compares with 612 per cent re-
ported on September 80. The
current market value is un-
changed. The stocks are now
quoted at an average of 9.4 times
known earnings, also unchanged
The Washington times., 1933-10-09
PITTSBURGH PRODUCE

PITTSBURGH, Oct. NNSD.-
Pnutry-Market steady; demand ample
supply ample; colored hens lb. up IA;
medium. 12; 1eghorn hens 81 III. up
sag: medium, 7Gs: hardroCk Springers.
III. up "a; Ieghorn springers, 9@10;
colored springers, 3h lhup IL; medium.
10@11; turkey hens. 17@1s; roosters.
70S; ducks, lb. up 10: under s; geese,
7@s; turkey toms 17@1s.
Butter-Market steady demand ample
supply ample; % score, 24N; SO score,
20: So score, 1S%; standard, 22A.
Esgs-Market firm: demand ample
supply ample; nearby current receipts,
merry white extras ESQ 20: So. O. W. Va.
KY, current receipts, 1761S; refrigera-
tor firsts. 17@1S.
The Washington times., 1933-10-09
COE TAKES NEW POST

Announcement is made of the
appointment of Sayers Coe as
eastern representative of the Chi
cago Journal of Commerce, with
headquarters in New York city.
Coe was formerly account execu-
tive for Doremus & Co., adver-
tising agency.
The Washington times., 1933-10-09
PAYS ACCUMULATlONS

Phillips-Jones Corporation has
declared a dividend of $1.75 on
account of accumulations on
cumulative preferred stock, pay
able November l to stock of
record October 20. On March IA
last, a dividend of $3.50 was paid,
which cleared up accumulations
to February /, 1898.
The Washington times., 1933-10-09
Lines on Better
Trade News

Youngstown steel rate up
2 cents for week. World
trade gains cited by National
Industrial Conference Board
:. Lumber bookings for week
highest since July. August
cotton use highest since
1927. September building in
September trebles. Auto
financing in August far
above July. August shoe
output One-fifth above year
ago. September auto sales
" per cent above year ago
and 13 per cent higher than
in 1881 month.
The Washington times., 1933-10-09
SALES GAINS CONTINUE

September represented the. fourth
consecutive monthly increase in
radio shipments and the best
month since 1881. according to a
statement by Leroi ]. Williams,
vice president and general man
ager of the Grigsby Grunow Com
pany.
The Washington times., 1933-10-09
TRI-CONTINENTAL

ri-Continental Corporation re-
ports as of September 80 net
assets equal to $37,088, 800 .43.
Based on capital stock outstand,
ing in the hands of the public,
this is equivalent to $4,888.53 per
$1,000 of outstanding debentures.
$113.12 a share of preferred stock,
and $1.40 a share Of common
stock.
The Washington times., 1933-10-09
SOFT COAL OUTPUT

The National Coal Association
estimates bituminous coal produc-
ton in the United States for the
week ended September 80 as ap-
proximately 100000 net tons.
Production for the corresponding
week of 1882 was 6,790,000 tons
and 1881, 7,943,0 900 tons.
The Washington times., 1933-10-09

vi s / o n S s
sheer impOsSi-
bilit, and any
S in ere at
tempt to do
so will show
that Govern
mcnt haStack.
led as hard a
task as en-
forcing prOhi-
bitiOn,. a n d
for the same
f u ndamental
reasons.
1--WE do not
d e n Y t h a t
some Of these
The Washington times., 1933-10-09
RAW SILK IMPORTS DIP

Raw silk imports, totaling 49,,
470 bales in September, were 13
per cent below a year ago when
56,859 bales were imported. the
Silk Association of America re-
ports. Imports for August we're
46,683 bales.
The Washington times., 1933-10-09
687 Listed Stocks
Hi0her on AUerG0e

Index of 687 stocks listed on
the Stock Exchange compiled by
Hamershaig, Brog & Co., showed
an average price Of $22.88 at the
close last Saturday compared
with an average price of $22.18
a week ago.
The Washington times., 1933-10-09
BY LEWIS HANEY
Professor of Economics New York
University

Seldom have 1 seen so mucn
wisdom packed into a telegram as
is found in the wire sent by Mar.
shall Field & Co. to General
johnson. It concerns price-tiXing,
and reads as follows:
EFFECTIVE policing under price
fixing and trade practice pro-
The Washington times., 1933-10-09
PHONE LOSS CHECKED

The net loss of stations by New
England Telephone & Telegraph
Co. in September was less than
one-fourth Of that for September.
The next drop in the number Of
phones connected was against
O,880 a year ago.
The Washington times., 1933-10-09

Follow the many unusual Business Op.
pOrtunities advertised daily in the
WANT AD SECTION Of this newspaper.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-06-19

When you want to look your very
most alluring, try a frock with a
cape. Any little dress may clothe
you, but frock with a cape can
create glamor to your order.
And what makes a cape so fiat
tering? It's the way it fits, of
course. 1t must cling to your neck
and shoulders and then fall away in
loose, graceful flares. 1t must look
as if it were made for you alone.
Here's a cape that cuts a dash
among the newest models. 1t flares
impertinently at the shoulders, crisis
crosses in front and then turns into
a SASH That's the 1888 way to add
inches to the shoulders and to make
the waistline divinely slender.
In sheer printed voile, this is a
frock that belongs in every ward
robe. 1t looks fresh and gay in the
morning, cool and correct in the
afternoon, and still unwrinkled and
at dinner. Size Is requires
Al yards 36-inch material. Width
about "a yards.
Pattern No. 5009 is designed for
sizes IA. Is, 18 and 20 years, 80, "a,
36, 38, 40, AZ bust.
Price Of pattern, Is cents.
New summer fashion book is out!
Send for it-put check here n and
inclose 10 cents extra for book.
Copyright, 1888, by United Feature Syndi-
cate, Inc
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-06-19
Psi IOta XII to
Hold Annual
State Session

Members of the local Delta chap
ter of the Psi Iota Xxi sorority will
attend the annual summer state
convention Wednesday and Thurs
day in Kokomo. Kappa chapter
will act as hostess.
Representing Delta chapter will
be Mrs. Arthur T. Brown, Mrs. Co.
burn Scholl, Mrs. Frank Harvey
Cox, Miss Eleanor Cox, Miss Mar
jorie Spencer. Mrs. G. E. Appel and
Mrs. Thomas McGaw will represent
Delta Beta chapter.
Miss Madella jenkins of Kokomo
is general chairman, assisted by
Miss Ruth Huffer and Miss Lecta
Morrow of the Kappa group. Mrs.
Ann Duemling of Fort Wayne, state
president of the sorority, will pre-
ide at the business sessions.
Other officers attending will be
Mrs. Marguerite Oliver of Muncie,
vice president; Mrs. Elizabeth Col
win of Indianapolis, secretary; Miss
Margaret Loveless Of ThorntoWn,
treasurer; Mss Thelma Sines of Lo-
gansport, advisor; Mrs. Margaret
Rainier of Seymour, conductor; Mrs.
Wanita Frederick Hughes Of Koko-
mo, charity chairman; Miss Eloise
Lewton of Decatur, north province
chairman; Mrs. Margaret Fields Of
Lebanon, central province chair
man, and Mrs. Christine Miller Of
Seymour southern province chair
man.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-06-19
Friends Are
Greeted by
Mrs. Garner
Second Lady Has Short
Chat on Brief
Visit Here.

I'm hurrying home to my pre-
cious darlings."
Thus exclaimed Mrs. Garner, wife
of Vice-President Garner, Satur-
day, as she declined Mrs. Samuel
Ralstons invitation to stop here for
a visit Mrs. Garner, with her hus-
band, stepped from the train Satur-
day eager to see Mrs. Ralston,
friend of the days when the late
Senator Ralston was a Washington
figure.
She's a lovely home-loving and
friendly SOUL" conflded Mrs. Ralston
before the train arrived. I'VE lived
at the same hotel and began the
DAYS together. Sometimes we had
to wait for the dining room doors
to open; we were always early
birds"
Il sat right there during the last
six hours" Mrs. Garner replied to
Mrs. Frederick Van Mugs questions
of the congressional activities. Isn't
my husband ever coming home?"
Mrs. Van Nuys queried.
Grandchild Is $50 High"
ct feel like We'll never get home
sighed Mrs. Garner as she talked to
Mrs. Ralston of her granddaughter.
Mrs. Ralston remembered Genevieve
Garner when she was so high"
"She comes to here now" interposed
Mrs. Garner as she laid her fingers
across her chin. She'll be ii next
October"
Mrs. Garner turned from one
friend to another. She clasped
hands of strangers with friendly
greetings. She moved quietly
through the crowd, smiling cordially
and unaffectedly.
ct was so good of you to come, -
she remarked to Mrs. Thomas Mar
shall. "Oh, this sweet baby" and
she squeezed the hands of vide
eyed youngster Turning aside to
acknowledge another greeting, Il do
remember your name. You're Mr..
-" She was right.
Carries Knitting Bag
Don't you like her boo and per-
manent?" Mrs. Van Nuys questioned
Mrs. Ralston. "She surprised us all
one day at a luncheon.
On her arm Mrs. Garner carried
a large sized bag, which bulged sus-
piciously Her friends could imagine
her knitting q dainty little sweater
for Genevieve. AS the train sped
on toward Texas, the click of her
needles probably accompanied eager
contemplations of the fast-growing
granddaughter.
AS she boarded the train, she still
talked of her granddaughter.
shes swimming in the river these
days 1 can sit on the bank and
watch her"
Her newly acquired friends smiled.
They thought Mrs. Ralston &C
curately had described the second
lady of the land. She was lovely
home-loving and friendly soul.