davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
FAVOR
CLEAR REPORTS
High Low l:cO

Recommendation for uniform
presentation of corporation finan-
cial data, revealing pertinent in
formation without misleading
stockholders or prospective inves-
tor, has been submitted by the
Committee on Statistical Report
ing and Uniform Accounting for
Industry of the Business Advisory
and Planning Council to the
executive committee for considera-
ton at its next meeting, August
20.
The committee submitting the
report consisted of S. Clay Will
liams, council chairman; Walter
S. Clifford, Pierre S. dupont and
William A. Hartman.
Although the report made no
radical departure from recognized
standards of accounting, it
favored practical expedients for
the treatment of hitherto dis
puted questions and urged the
adoption by all corporations OF a
more liberal reporting policy. This
procedure, the committee believed,
would serve to indicate what ad-
vances have been made and the
direction in which further prog
ress can be expected.
The council, contending 1t was
imperative that investors receive
complete information concerning
business organizations, pointed
out in the report:
The reliance placed on cor
porate financial reports has
reached the stage where they
have become matters of con-
siderable public concern.
"The committee maintains
that the improvement of financ-
ing reporting is one of the keys
to the solution of the problem
for protecting investors"
The report cautioned against
the feeling that financial state
ment can ever be substituted for
Judgment on the investors part.
1t stressed the fact that almost
all of the information which the
investor receives must come to
him, either directly or indirectly,
from the published reports of the
corporation.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
DEMAND
D|NS STEEL
OUTLOOK

Additional Government work
and some revival in automobile
requirements hold the only posi-
bilities for an early upturn in steel
activity, according to the maya
zine Steel.
1t reports failure of new de-
mand to appear, widespread labor
difficulties and increasing uncer-
taintieS regarding GOV eminent
policies are exerting a depressing
influence in the market.
To find a counterpart Of the
doubt that prevails among steel
producers, the organ finds it nee
eSSary to go back to the beginning
of the Administrators recovery
program. A year of the steel code,
the anniversary of which fell yes
terday, finds steel wages, prices
and employment enhanced 8 to 10
per cent and iron and steel produc-
ton down SIS to 81 per cent.
Auto Holiday Seen
The immediate outlook for the
industry, according to the author
ity, faces prolonged shutdowns in
the automobile trade over the
Labor Day period. In view of this
it expects the month will be the
SloWest in motor car production
since January. Although first steel
tonnage releases for 1885 models
appeared to be scheduled for next
month, it believes it will be Sep
TENDER or October before actual
rolling of the steel commences.
Rail mills this month, the sum-
mary said, are completing the last
of the rail orders placed earlier in
the year under governmental
sponsorship. Railroad equipment
repair this year generally has not
measured up to expectations, due
to mounting costs, estimates of
which in some instances exceed
Federal loans.
Wait Farm Demand
Steelmakers generally look for
a fairly good recovery in agricul-
tural requirements this fall, bas-
ing hopes on the increase in farm
product prices and Government
subsidies, to offset some of the
loss caused by the drought.
Though actual steel bookings
so far this month are larger than
for the comparable period in July,
orders chiefly are for rounding
out Inventories. In some districts
the volume is so per cent larger
though tonnage is far below an
ticipated quotas. Current ship
ments are one-third to one-fourth
those of June.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
POWER { LIGHT.
EARNINGS GUT

American Power and Light Com
pany and subsidiaries report a
balance carried to consolidated
earned surplus of $443,5O7 for the
three months ended with June
against $7O1,248 last year.
These items remained after de-
auctions for operating expenses,
including taxes, interest, depre-
citation and dividends on stocks
of subsidiaries.
The balance carried to consoli-
dated earned surplus for the II
m on this ended with June
amounted to $3,344,657 against
$6,152,O89 for the preceding IL
months. Full dividend require
ments on the preferred stocks of
the parent company for the IL
months amounted to $9,635,585.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
Chicago Fire Bill
$9,OOO,OOO Yearly

CHICAGO,-Discovery Of an
arson ring in Chicago, charged
with occasioning fires that re-
suited in losses aggregating mil
lions, has set citizens to consider
ing what fire costs the city and
how that cost may be reduced.
In the last decade, according to
the figures of the underwriters,
fires have involved an average loss
of 100000 annually. The aver
age would be considerably higher
if the last three depression years
had not shown a steady decrease
in losses. In 1880 the total was
$15,000,O00, but by 1888 it had
dropped to $5,700,O00.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
LIVESTOCK MARKETS
CHICAGO

CHICAGO. Aug. 20 U.NsD.-Hogs:
Receipts, 10000; market, 1O-15c higher.
Holdovers. 1000. Top, $6.75; bulk, $6m
$50; heavy, s6.25 06,75; medium, $6.25
ass; light $6Q6.6O; light lights $5.75
a 6.25; packing sows, $3.50 q SIS; pigs,
$4W5.
Cattle-Receipts, 1900; m r k t
steady. Calves-Receipts, 4,OOO market
steady. Beef steers-Good and choice,
$S@ $50; common and medium, $3.50 a s;
yearlings, $508.50. Butcher cattle
Heifers, $3.5O@7; cows s3.25 $50; bulls.
s2.75 a A; calves, $3.50 al; feeder steers,
$4M56 stoCker steers, $3.50 "a. so ;
stoCker cows and heifers, So. so q $50.
Sheep-Receipts, 10000; market steady.
Lambs, $6.5O@7; common, $4.5O@5.5O;
yearlings, $5Q6.25; feeders, $500; ewes,
$500 5.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
CLOTH FAIRLY ACTIVE

NEW YORK, Aug. 20 ONSD.-The
coarse yarn cloths market ruled fairly
active today, although buyers were in
clined to be somewhat hesitant due to
the overhanging strike threats and the
recent weakness in raw cotton. a sur
vey of last weeks dealings disclosed
that for the second week in succession,
total sales were about equal to two
weeks production, making a fourweek
production sold in the fortnight. Trade
interests pointed out that those buyers
who were holding off in their commit
ments in the expectation that any fur
Their reaction in cotton would result in
lower prices in the cloths market might
find themselves in a rather tight posi-
ton in the future.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
Retail
Trade Dip Small

Because of the high rate of in
dustrial activity maintained for
this season of the year throughout
the entire State of Michigan, the
decrease in Detroit trade this
week was smaller than in most
parts of the country.
Surplus stocks have been con-
sumed faster than they were pro-
duced during the past three weeks,
and on the present basis turnover
of consumer goods, inventories are
moving faster than customary be-
tween seasons.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
PITTSBURGH

PITTSBURGH, Aug. 20 T.N.s).
HIogs-1.5 500; holdovers 300; steady;
heaVies, 1925 $3.50; medium, $3.50
700; light, $6.5O@7.OO; light lights,
5.25@65O; packing sows. $4.5O@5.OO;
pigs, $4.25@ 500.
Cattle-8OO; Governments 76; steady:
6.25; heifers ($5.5O@85O lbsi, good,
$500 500; cows, good, $.OO@3.75; bulls,
good, beef $3.OO@3.75.
Calves-70O; steady; vealers, good and
choice, $6.5O@7.OO.
choice (6S lbs, up). $7.OO@7.35; year
ling wethers, good and choice, $4,000
500; aged wethers, medium, good. 5000
@2.5O. ewes, good and choice. $3.50
$50.
(C-Not extreme limit of grade
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
NEW YORK

NEW YORK, Aug. 20 GN.S).-But-
ter, quiet and unsettled. Sailed and un-
sailed creamery, higher scoring, IS y %
SO12c. Creamery extras, rs 1923 12C.
Creamery firsts, 23l q 29c.
Cheese-Quiet State whole milk, flats,
specials, 10 q zoe; average run, 17@17I2c.
Wisconsin whole milk, fancy young
Americans, 15Q1512c.
Eggs-Firm. Nearby white specials,
27G29c; standards, 25@26c; mediums,
"a q 26c. Nearby brown specials, 24W
24G32c; standards, 23@23ac; firsts.
21c; seconds. 19919Ec; mediums @
1Slac Pacific coast white, fancy packs,
81 @32c; standards, 3OQS1c; mediums,
2S6D29c.
pounds volume a plant within the col
21O-mie zone.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
MONEY MARKETS

NEW YORK, Aug. 20 S.).-Call
money was renewed at 1 per cent on
the big board today and IL per cent
on the curb, remaining at y of per
cent outside.
Time money rates were unchanged at
q to l per cent for 60 to $50 days.
Commercial paper continued fairly ac-
tive with the rates unchanged at x TO
per cent.
Bankers acceptances rates were nomi
nal and unchanged at 4 to 3-16 per
cent for 80, 60 and 80 days, q to 4 per
cent for 100 days, and Il to Is per cent
hn md $50 DAVIS
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
687 Listed Stocks
Higher Last Week

Index of 687 stocks listed on
the New York Stock Exchange
compiled by Hamershlag Borg
and Company, showed an average
price of $21.96 as of the close
last Saturday, compared with an
average price Of $21.65 the pre-
ViouS week.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
V'; ss.ss ''' N. Y. Bond Quotations 7 s S

A moderate amount of irregu-
larity was again apparent in the
bond market today. The price
movement in most instances was
comparatively narrow, and the
lack of volume minimized the sig
nificance of price changes.
In the second grade and more
speculative rail group St. Paul SIS
and the adjustments were un-
changed. Great Westerns and the
NorthwesternS c were slightly
lower.
Southern Railway issues were
strong, with the 612s and the IS
moving sharply higher.
Medium-priced liens were steady.
UtilitiS were quiet. High-grade
investment issues ruled firm
around their recent tops.
In the foreign list trading was
quiet and without any material
change in price.
United States Governments were
steady and quiet.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
CHICAGO

CHICAGO, Aug. 20 O.N.sD.-Butter
Receipts, 11,433 tubs; market steady;
old cars IS: new, 10. Extras, 81 a C :;
standards 26s4; extra frsts, 25i4 %
% &c; firsts, 24m 2412c; seconds, 220 Use;
specials 27A aU27Ac.
Eggs-Receipts, 4,S23 cases; market
steady; old cars, 6 new, B. Current re-
ceipts, 16M1Sl2c; fresh extra firsts, less
than cars, 1870; cars, 2OAc; fresh
firsts, less than cars, 19hc; cars, 1873 CT;
dirties, ia 16c: checks, 120U15C.
daisies IS y D14c: longhorns, 1874 a lac.
Live Poultry-Turkeys, lie; toms, 100
12c; hens, 1O016c; broilers, 14@ 19c;
roosters, SQ9c; ducks. SW12hc; geese
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
CLEVELAND

CLEVELAND. Aug. 20 G.N.SD.-Hogs:
Receipts, 500; market active, SOC higher.
Top and bulk $3.50.
Cattle-Receipts, 500; market slow on
all grades. Prices mostly steady. Very
few good cattle on sale.
Calves-Receipts, 1000; market active
and steady. Top. SIS. Quality mostly
poor.
sheep-Receipts, 1900; market active
and strong to csc higher. Good lambs
in best demand.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
EMPLOYEES DIVIDEND

During the six months ended
June 80, employees of the Proctor
and Gamble Company in the
United States and Canada received
dividends totaling $252,613 against
$144,945 in the like 1888 six
months. These payments were
made under the company's profit
sharing plan, which is based on
stock ownership, and which was
inaugurated in 1887.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
NEW YORK WOOL

NEW YORK. Aug. 20 SD.-Wool,
quiet. Domestic fleece, unwashed, Ohio
and Pennsylvania, 29@32c; domestic
pulled, secured basis, 58GSSc; domestic
Texas clean basis, 5S@ 75c: domestic
territory, clean basis, 55077c.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
LOCAL AND OTHER PRODUCE MARKETS

Potatoes-Receipts 122 cars; on track,
146; U. S. shipments, 5O2: Idaho tri-
umphs $3.50; North Dakota triumphs
$1.75I $50; Colorado triumphs, $3.50;
Wisconsin triumphs, $17Om1.75; cob
blers, $1.4O@1 $50; commercial grade,
$1.35D1.5O; N. j. cObblers. $l.55 a 1.60;
Wisconsin, early Ohios, $1.4O; Idaho rus
sets, s..
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20

L. C. L. express arrivals at Washing
ton d. c.. August, 90, 1884
Florida-154 crates avocados, IS crates
lines, - crates margOes, 81 bushel bas-
ketS okra.
Californta-65 boxes G2-lbs.) figs.
North Carolina-32 32-quart crates
huckleberries. 10 crates pineapples, IA
bushel baskets okra.
South Carolina-12 32-quart crates
huCkleberries.
Pennsylvania-1O6 Alb. baskets mush
rooms.
Mixed Vegetables-12 crates.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
NAVAL STORES

NEW YORK, Aug. 90 S).-Petro-
leum, easy crude. Pennsylvania. $2.17
@2.55. Linseed oil, per pound 99c; car
lots. Turpentine, easy; AZ &c. Rosin,
easy; common, $40.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
ILLINOIS JOBS DIP

Reports from 4,481 industrial
establishments in Illinois for
period between June Is show de-
clines of IA per cent in employ
ment and 2.3 per cent in payrolls-
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
Volume This Year
44,332,912 Shares

High Low Ills
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-08-20
DIVIDEND ANNOUNCEMENTS
REGULAR

LAC
v dividends of 271ac on accumula ons for
year, leaving an accumulation of $1.92k.
Evening star., 1934-07-29
Six StratosPhere
Ascents Made, TiUO
Being Disastrous
Cray, First to Enter the
Upper Air, Died
Coming DOtVn.

BY the Associated Press.
RAPID CITY s. OAK. July 28.-
Six balloon flights into the strato-
sphere, two of them disastrous, have
preceded the National Geographic
Society y-Army Air Corps expedition.
Capt. Hawthorne Gray of the
United States Army, first man to
reach the stratosphere in balloon,
went up in an open basket in 1927 TO
a height of miles. but died on
the way down from effects of the
thin air.
Making the first ascents in an air
tight gondola, Prof. Auguste Picard
of Belgium twice penetrated the
stratosphere, reaching an altitude OF
following year.
In September, 1888, three Russian
balloonists reported rising to IL 4-5
miles, and the following month
Corndr. T. w. G. Settle of the United
States Navy and Maj. Chester Ford
ney of the Marine Corps reached a
height of IL miles.
Last January another ascent in the
Soviet Union by three balloontsts to
reported altitude of more than 13
miles ended in the death of all three
when the balloon crashed in the
descent.
In addition to the balloon fights
several airmen have reached the lower
levels of the stratosphere by plane.
Evening star., 1934-07-29

made with the men in the falling
gondola.
Then, at 5:55 pm, Rapid City an
nounced receipt Of report that the
balloon was down. Efforts were be-
ing made to confirm the report, it
was stated.
The Chicago operator piped up with
q report from the telephone COM
pany" that the balloon was down 3
miles west and miles north Of Hol-
dredge, Nebr.
All Alive and Well.
A few moments after o'clock, Chi
cago came back with the crisp, heart
ening announcement:
THE balloon Is down near Hold
redge. Here is the dope on the three
officers. All are alive and well. Three
miles north of Loomis, 'Nebr, Capt.
Anderson bailed out az 5000 feet,
Capt. Stevens bailed out at 5000 feet
and Maj. Kepner jumped at 500 feet"
That was when short period Of
pandemonium broke loose at Geo.
graphic Society headquarters. The
group Of ordinarily dignified scientific
men and employees jumped to their
feet, slapped one another joyously on
the back and cheered Justify.
Maj. Kepner a short while there
after reached q rural telephone and
apprised Rapid City of the safe land
ing of himself and comrades. Tele-
phone and radio officials hastily ar
ranged a long-distance telephone
| hook-up to a National Broadcasting
Co. station and the flight commander
went on a Nation wide network with
the following colorful account of the
unfortunate ending Of the strato-
sphere adventure:
ut just so happens that the fellow
who invented the parachute is a good
friend of mine and am glad he in
vented one.
I'VE were up about $4,000 feet at
about 1870 Mountain standard time,
and the fabric in the bag apparently
gave way, either from strains due to
imitation, or some other cause, don't
know which.
Saw Hole in Balloon.
I'VE were able to look through a
window in the top of the gondola and
could see a hole in there about so
feet long-in the balloon.
I'VE were somewhat concerned, of
course, because you cant bail out
of anything at $4,000 feet. You know
the human being dies at about $4,000,
even though he has pure oxygen.
I'VE sat there sort of waiting, won-
dering whether we were going to come
hurting down through the skies at
about a mile a minute or a little
faster in this gondola, and than try to
step out of it after it got down far
enough. We sort of felt we needed
few horseshoes around us and a few
good angels guarding over us and
maybe our mothers prayers as well
I'VE were able to get down to jump
ing distance. At 10000 feet, we
opened up the gondola, got out and
took look at things on top of the
gondola and thought possibly We
might be able to land We had a
| lot of valuable instruments with some
good records. We made pretty good
fight and we felt it was well worth
taking a long chance to bring home
the records We had obtained up to
| that time
With that idea in mind, We de-
Evening star., 1934-07-29
CHAC0 ARMS BAN
HINGES ON JAPAN
Chile Accepts ChacO Embargo
Conditional on Universal
Enforcement.
Nv the Associated Press.

By the Associated Press.
GENEVA, July 28.-The success or
failure of the arms embargo against
Paraguay and Bolivia now depends
on Japan.
Chile today reaffirmed her previous
position making her participation In
an arms embargo conditional on its
enforcement by all other powers In
cluding Germany, Italy and Japan.
Italy has accepted the move uncon-
ditionally, and Germany already has
announced she viii prohibit the ex-
portation of arms If the other powers
do likewise.
Japan, however. has refused to be
connected with the embargo. consid-
ering it to be League of Nations
political problem. Japan neverthe-
less informed the League she never
has sold arms TO either of the bellig-
erents in the Gran Chaco.
Evening star., 1934-07-29

cided we would try to land 1t as a
balloon, even though the whole bot
tom was virtually torn away.
I'VE got down to about 5000 feet
from the ground and the parachuting
effect of the fall of this balloon, even
at 500 feet a minute and sometimes
as low as 800 feet a minute, tended
to clear out all the lower fabric in
the balloon and then it left this great
gaping top of this monster balloon up
there with some hydrogen up in the
top of it, holding it, and it was also
making a parachute.
Combination Too Much.
1.-THE combination of the two was
more than the poor old bag could
stand. At about 5000 feet, 1t just sud-
denly split wide open and everything
started toward the earth.
We'll, there were three of us, and
we went out almost simultaneously,
and we all landed in some of this good
Nebraska dirt here that we are going
to get washed off us in a little while,
and then we're going to try to get
something to eat.
"All of you that have been anxious
about this thing-I hope you are
relieved for the safety of the per-
sonnel.
1T was a most unfortunate end to a
very fine expedition-one that has
probably employed more talent and
more scientists than any other expe-
dition of its kind in history It was
a success, but Like some other things,
some little thing will interfere.
THE result OF 1t was we stayed In
there until the gondola was actually
in the act of falling free in the air.
AS a matter of fact, Capt. Stevens had
a good deal of trouble getting himself
free from the g0ndola. ! managed to
get of Just as ne did. I saw the
other two out of the way and then
took off myself. Even with 5000
foot start, we had just about time
enough to get our 'chutes open and
step down on good old Mother Earth
Send High Praise.
well, that's all there is folks, SC
good night and so long"
Gen. Westover and DR.. La Gorce
Immediately voiced messages of COM
mendation to- Maj. Kepner and his
men.
Maj. Kepner," Gen. Nestover said
IT can't tell you how proud the CHIEF
of the Air Corps and the entire All
Corps will be at your remarkable DEM
onstration of courage and personal
bravery in the face of such an emer-
gency as you encountered. We are
thrilled at your achievement-those o1
us who are balloonists appreciate nov
great your personal bravery was"
westover complimented the aero
nauts on their Judgment and skill'
| and he characterized Kepner as the
outstanding balloon pilot in the
world"
DR.. La Gorce told the trio the Ma
tional Geographic Society is proud ol
their splendid courage and skill"
Months of painstaking study wa:
engaged in and seasoned expert ad-
vice was sought and applied by you
gallant officers and by the joint Spon'
sors-the National Geographic So
ciety and the Army Air Corps"
The society vice president asserted
that the first and last consideration
Evening star., 1934-07-29
INSTRUMENTS GUARDED.
Explorer" and Equipment to
Returned to Army.

Explorer" and Equipment to be
Returned to Army.
LOOMS, Nebr., July 20 R).-The
worlds largest balloon, "The Explorer, "
lay for hours this evening on a dusty
drought-seared Nebraska cornfield, its
gondola smashed like an egg and
valuable scientific instruments and
Army equipment scattered wide after
its plunge to earth following an un-
successful attempt to soar to new
heights in the stratosphere.
After nightfall 1t was hauled un-
tremendously to q National Guard
warehouse at Holdrege and placed
under guard of police officers in
structed to protect the equipment and
instruments, which may have i'm
portant data for science.
The instruments and scientific data
will be forwarded to the National
Geographic Society and the balloon
and its equipment will be returned to
the Army. .-< -t--s ,-es
Immediately dressed in his Army
uniform, Maj. William z. Kepner,
after a safe landing quickly inspected
the big rubberized bag, the smashed
gondola and looked hurriedly at the
equipment.
Asked If he would make another at
tempt to soar to new Shakespeare
heights, he commented, mot in that
! bag"
Both he and his companions were
discouraged. They had hoped to
make a new mark.
Capt. A. w. Stevens said he was
so tired he was unable to sleep this
evening. Unlike Kepner, both Stew
ems and Capt. o. A. Anderson were
fatigued, and their clothes were dusty
and wrinkled.
Concerning scientific equipment
Kepner said: I'VE can't tell what con-
dition it is in, but believe some Of 1t
is o. K" Kepner declined to reveal
the condition Of those he and his as
sociates examined.