davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1934-04-05
COTTON TURNS
DOWNWARD

NEW YORK, April 5 GN.S0.
Cotton futures turned downward
today under the influence of an
easy tone in grains.
Trading for the most part was
limited, there being little news
of Importance to the cotton trade
to affect the market either way.
At the opening, futures were l
point higher to 3 points lower
with the list displaying an easy
undertone. These losses were ex-
tended later in the morning.
Professional traders liquidated
holdings on a small scale, while
Southern sources made scattered
sales. New Orleans and the Con-
tinent sold. The main support
in the market was in the form
of routine price-fixing orders for
the domestic trade. Wall Street
made small purchases.
At noon, futures were 6 to 8
points off. July was off 8 at 1910,
October off at 1926. December
off 8 at 1892, and January off
8 at 1899.
The Washington times., 1934-04-05
| ~
36sOO ~ I

NEW YORK, April 5 Q.N.S0. L.
The curb market showed irregu-
lar tendencies through the greater
part of today's session, with fur.
ther advance centered in a scat
tering of issues.
The utility group continued to
meet offerings, with Consolidated
Gas of Baltimore forced down 11S
points to SO.
Humble was outstanding in the
oils, moving up "a to a new high
for the present shares at As. other
petroleum stocks we're easier.
Speculative interest appeared to
revive in the alcohol group, with
Hiram Walker up u at 46, Cana
dian Industrial Alcohol A UP "
at 1872, and Distillers Seagrams
up 1s at 201a.
Metal shares were heavy.
General Tire was the best
ground-gainer among the special
ties, advancing a point to 81.
Parker Rustproof was up "a at
5924.
Pennroad was up 1s at 33s in
a dull investment trust list.
Utility bonds were irregular, with
Puget Sound Power & Light 512s
up 70 at 5012, and Electric Power
& Light SIS down u at 80.
The Washington times., 1934-04-05
Battle Is Planned
On Branch BQnkin0
By International Newg service

BY International News Service
An organized campaign by New
York State banks against extern
sion of branch banking was fore
cast in financial circles after it
was revealed that George v. Nc
Laughlin, president of the Brook
lyn Trust Company, and head of
the New York State Bankers Asso-
citation, had sent a letter urging
such action on members of the
association.
Mr.. Mclaughlin warned against
branch bank extension pending
action in Congress where, he said,
legislation is likely against too
wide establishment of the system.
He declared liberalized laws for
State banks would work to the ad-
vantage of national banks.
The Washington times., 1934-04-05
EXCHANGE BOND
SUBSCRIPTION
SEEN HEAVY
BY international News Service

Initial reports from Federal
Reserve banks indicate chat ex.
change subscriptions for the
Treasury's offering of $1,244,234,-
600 in 3A per cent 10-12-year
bonds has been heavy.
While a considerable number
Of holders of the $1,000,0OO, 900
in Fourth Liberty 414S called for
April IS and $244,234,000 in 8
per cent notes maturing May 2
will demand payment in cash,
the majority of investors will re-
fund their holdings into the new
Treasury bonds, according to the
indications.
The Fourths were called in the
amount Of $1.875 ,000,0 900 last Oc-
tober, a siX-month notice being
required. About 5000 ,000, 900 were
refunded into the bonds offered
for exchange purposes in october.
Funds Adequate
The Treasury had an adequate
fund for cashing the Fourths and
the 3 per cent notes, with a total
cash balance of $4,809,33 900
April 2. Of that cash balance,
however, $2,000,0O 900 has oeen
ear-marked for the stabilization
fund.
The next important Treasury
financing was expected to take
place June Is, when $174,905, 500
in certificates mature. 1t was be-
lieved at that time there would
be heavy offering in excess of
the maturity. For the first six
months of the 1885 fiscal year
(Which starts July y indications
point to a heavy expenditure by
the Treasury for emergency pur-
poses, since approximately $2,000,-
100000 originally estimated for
expenditure during the current
year will be disbursed in 1885.
That would mean a borrowing
in June of about $1,000, 900, 900
over the maturity. On August l,
$342,29 800 in 2b per cent notes
mature, while the September Is
maturity is $524,748.500 in 11a
per cent certificates. Both ma
turtles probably will be the signal
for substantial refunding opera
tions, with issues well in excess Of
maturities.
Interest Ceases
Treasury figures showed that
there is $59,617, 900 of the public
debt upon which interest has
ceased, holders of these obligations
having failed to turn in their Sc
curities. This means substan-
tial annual loss of interest. The
bulk of these maturities were in
certificates, of which $27,070, 900
are outstanding. A total of ST.
516,410 of the public debt which
matured prior to April /, 1917, has
never been turned in.
The Washington times., 1934-04-05
STOCK MARKET.
DISAPPOINTING
High Low | 1915
By WALL STREET SPECTATOR

BY WALL STREET SPECTATOR
NEW YORK, April S QN.SJ.
Wall Street is little disappointed
at the markets Sluggishness in
view of the widespread bullish-
ness, but is inclined to dismiss
whatever apprehensions there
may be with the forecast of a
creeping bull market"
The principal sour note is the
touting which some low-priced
stocks are getting in an effort
to attract a public following.
Those who own sound stocks,
however, shouldn't feel much
worried.
Informed interests are more
confident about bonds than
stocks. Their prediction is that
the high yields on even specu-
lative issues will disappear in the
next few months. Of course, a
good bond market will have a
sympathetic reaction on stocks.
William C. Durant is reported
more active these days, and to
have made some money.
A 50-cent payment on Kenne-
colt is being whispered around.
There has been considerable
speculative buying in the build
ing stocks, influenced by the
seasonal factor.
Aggressive buying is beginning
to come into Standard Oil Of
New Jersey.
Montgomery Wards February
and March net income is esti-
mated at $1,OOO.O00 or about half
of all of last years earnings.
National Lead will net about
$3.50 a share for the first six
months of this year.
The Washington times., 1934-04-05
Norfolk e Western
Seeks Bids on Steel

Norfolk & Western will take
bids April l3 on 10000 tons Of
steel rails.
Navy Bureau has placed orders
for two switching engines for Mare
Island. Cal, with the American
Locomotive Co.
Erie Railroad has ordered eight
combination baggage and mail cars
from the American Car & Foun-
dry Co.
Seaboard Air Line has asked
bids on 1000 50-ton steel box cars,
and Chicago Great Western is
planning to purchase 500 steel box
cars.
The Washington times., 1934-04-05
GRAIN FUTURES
WORK LOWER

CHICAGO, April G.N.S).-
Grains worked moderately lower
in today's early dealings. Scat
tered selling some of which was
in the way of profit-taking by
yesterdays buyers featured deal
ingS.
Near mid-session values were
steady with the opening, wheat
being "a to 12c off with May at
$3.50. Corn was "a to 3sc down,
oats 1s to Vac off and rye 1s to
1ac down.
Crop news on wheat remained
beariSh.
The Washington times., 1934-04-05
Recovery Is Seen
In Hotel Industru

The hotel industry is beginning
to show marked improvement in
both restaurant sales and room
occupancy, states The Index,
monthly publication of the New
York Trust Company, in its April
issue. General economic recovery
is considered at least partly re-
sponsible for this, but the imme-
diate impetus behind the upward
turn. according to the article in
question, has been repeal.
The Washington times., 1934-04-05
Business News
Spotlight

Income tax collections in
March tOtaled $23O,348, ,OCO,
against $177,242,OOO a year ago.
-. F. w. WOolworth sales for
March amounted to $24,O35, ,1O4,
compared with ST., 7,5O9,S33 for
the same month of 1888. Wal
green Company declared the
regular quarterly dividend of Is
cents on the common stock,
payable May l to stock Of record
April 16. HOmestake Mining
Company declared an extra divi-
dend Of a dollar payable April
rs on stock of record April 20.
The Washington times., 1934-04-05
Curtiss- Wright Net
Is IL Cents O. Share

By Interna tlOnal News Service
Curtiss-Wright Corporation real
lied a net profit in 1888 Of $685.
896. equal to IL cents a share on
Lat ,491 shares Of Class A stock,
contrasted with a net loss Of $685.
STA in 1882.
Untitled orders as of March q
last, totaled $6.5O4,763, against
$5.345, 800 at the end Of March,
1888.
The Washington times., 1934-04-05
PAYS ACCuMuLATlONS

American Smelling and Refin-
ing Company declared a dividend
of $3.50 a share on the 7 per cent
cumulative first preferred stock,
reducing accumulations on this is
sue to $5.25 a share. The dividend
is payable June / to stock of rec
ord Nav 4.
The Washington times., 1934-04-05
Briggs Net Profit
S1,59I,42I for Year
BY International News Service

BY InteTnatlOnaI News SerV1ce
Briggs M a n ufacturing Com
pany's preliminary report for
1888 shows net profit of $1.591,-
424, equal to 80 cents a common
share, contrasted with a net loss
of $780, ,421 in 1882.
Directors declared a dividend
of Is cents a share. payable April
80 to stock of record April 16 the
same as paid three months ago.
The Washington times., 1934-04-05
At least the performances here

and there show
that what is
called &C on
Structive activ-
ity" Is not dead.
Broadly con-
Sidered, an OBJ
Servation Of va
riouS charts Of
"a v e r a g e 81
shows that the
rather S t e a dy
u o " n W q + q
trend W h i c \
prevailed from
the middle of
February to the
third week in
The Washington times., 1934-04-05


March, has been checked. In fact,
the averages have gradually
climbed out Of their declining
path.
The whole movement reflects
the absence of liquidation, and in
dicateS that some accumulation
has been going on.
OF course, there are many un-
certaintieS, and as prices rise,
the market must absorb not
only the usual profit taking"
but more or less liquidation by
tired holders. 1t seems to me,
however. that it did such alb
SOrbing in good shape both Tues
day afternoon and yesterday
morning.
So my feeling is that ones gen
eral attitude should be that of in
vesting in carefully selected stocks
whenever these little reactions af-
ford opportunities to pick them
up at concessions.
Some of the bullish indications
are as follows:
The bond averages continue to
creep up, indicating confidence in
the financial situation.
The only considerable trading
activity in stocks is obviously on
the buying side. This observation
is the more significant in that for
six days now the majority Of is
sues traded in have closed with
plus signs.
The number of substantial is
sues making new highs" is
worth noting. (These have re-
Gently included such ones as
United Fruit, Wilson preferred,
MOnSantO Chemical, Mcintyre,
Glidden and Amerada.)
More than that, such old-line
leaders as American Can, Dupont
Steel, and Telephone have been
pushed back up to the resistance
levels" through which they de.
clined a couple of weeks ago, in a
way that suggests they were
down but not out"
Weakness in the utilities is
a drawback. The railways still
confront labor uncertainties. Qn
fact, the possibility of a labor
flare-up in several quarters, must
be considered0
The stock exchange bill re-
mains menace. The New
Dealers may at any time bring
on new radical reforms"
The idea of raising wages "to
create purchasing power" and
then boosting prices to offset
the higher wages, is hardly a
ground for lOng-range optimism.
But for the present there is
obviously greater confidence
among business leaders, and
more soft pedaling" among the
New Dealers It is as if the
DR.. Writ episode had cleared
the air by dragging into the
open something that was worry.
ing many. Now we find lead.
ers airing their views concern,
ing NRA, General johnson ex.
pressing opposition to licensing
businesses, etc. There is hope
that the more radical and re.
Strictive New Deal measures will
fall of their own weight.
The market does not seem at
all likely to run away. Increas.
ing resistance will probably be
met soon. But in view of the
inflationary background and the
present trend toward moderation
at Warrington. I would retain
holdings and add to them ION
the dips"
The Washington times., 1934-04-05
HANEY ADVISES
HOLDING ON
To STOCKS
BY LEWIS HANEY
professor Of Economics.
New York University

One may not like some aspects
Of the action of the stock market
such as the tendency to give GER
tain speculative "cats and dogs" a
whirl; but it must be admitted
that other aspects are quite ia
vorable.
The Washington times., 1934-04-05

BOND MARKET AVERAGES
Copyright, 1884, Standard Statistics
Coz
NEW YORK. April 5 U.N.S0.
20 20 20 so
The Washington times., 1934-04-05

March, has been checked. In fact,
the averages have gradually
climbed out Of their declining
path.
The whole movement reflects
the absence of liquidation, and in
dicateS that some accumulation
has been going on.
The Washington times., 1934-04-05
United States

Lack St 1st IS A so. 106 4 105h I105 .
Laclede Gas 515s c '53 60& 601s 6Oh
Laclede Gas 1as D so so so SO
Lake Erie&W 1st 5s37 100 80 100
Lautaro Nitr 6s st.. 15H 1879 15H
Leh V (Pa) con4 Y s2OOS 69h 6S15 69h
Leh v (Pa) con 4s2003 SO 6S So
Liggett&Mye IS "A. 125 124h 125
Loew's IS '41......... 90 9S% 80
Long Isl deb 5s 81. 80. 102 102 1O2
LoriIld Co Is '44...... l117Al117 III
L & N As '40.....,.... l101 Il I101 Il I101A
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1934-08-24
The Working Class Will
Not Forget!

OEVEN years ago Wednesday, August %,
y Nicola Sacco and BartOlomeo Vanzetti
were legally murdered by the State of
Massachusetts, "a crime for which the
working class correctly holds the entire
ruling class of the United States respon-
sible
Convicted on a flimsy murder frame-up, their
real crime in the eyes Of the ruling class lay in
their militant opposition to the imperialst war
nongers during the unspeakable slaughter Of the
World War and their undying loyalty TO their
class-the working class
The working class will never forget the murder
of these two heroes produced from its struggles
against war exploitation and oppression. The huH-
dreds of Sacco-vanzetti memorial meetings held
throughout the country this week attest the fact
that the memory of these courageous working class
fighters is still fresh in the heart Of every class
conscious worker
In honoring the memory OF these fighters Tor
freedom the working class does not shed useless
tears but, determined to avenge their murder takes
up under the bold leadership Of the Communist
Party the fight in which they gave their lives,
the fight for freedom, the fight to abolish war,
exploitation and oppression and in the resolve that
Mere shall be no more Sacco-Vanzetti murders in
this country, and the revolutionary determination
to rescue that other working class hero, Angelo
Herndon, and the scottSooro Boys from the hands
of the murderous ruling class which sent Sacco
and Vanzett to the electric chair for their political
beliefs for their working class activities.
In this spirit of relentless struggle against their
oppressors the American working class and the
toilers Of the whole world, re-echo today the
courageous defiance of vanzetti prophetcaly pre-
dieting the effect of this monstrous crime in UNI
masking the brutal nature of the capitalist die
tatorship in raIying sections Of the working
class for the revolutionary overthrow Of the hideous
system
"If it had not been for these things, might
have lived out my life taking at street corners
to scorning might have died unmarked,
unknown, failure. Now not failure.
This is our career and our triumph Never In
our full life could hope to do such work for
tolerance, for justice, for mans understanding of
man as now we do by accident Our words-our
lives, our pains. Nothing! The taking of
lives-lives of good shoemaker and poor fish,
peddler-an! That last moment belongs to us
that agony is our triumph"
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1934-08-24
Japanese ProvocatiOns
Threat to World
Peace, Says FSU

NEW YORK.-American workers
were urged to spring to the i'm
mediate support of the Soviet
Union, now threatened with war by
Japanese military provovcations, in
an appeal issued yesterday by the
National Committee of the Friends
of the Soviet Union.
The appeal follows in part:
Alarming news from the Far
East indicates the rapid elimination
of situation fraught with danger
to world peace. The japanese are
preparing to strike against the So
Wet Union. Since Japan attacked
China in 1881, they have CONSOLE
dated their power in Manchuria,
they have built strategic railways,
military roads, naval posts, air
dromes, and have assembled huge
war machine.
1.-THE only possible purpose Of the
long list of atrocities committed by
Japan against the Chinese Eastern
Railway and the Soviet Union, is
provocation of war. japanese i'm
perialists are eager to consolidate
their hold on their puppet state,
Manehukuo, not only because of
the business methods of the Japan
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1934-08-24
Urges Widespread Fight
by American Workers
to Defend U.S.S.R.
by Burck

trous calamity the world has ever
seen. Prevent munition shipment
to Japan. Manifest your determine
ton to stop war. Make your voice
heard in Washington. Join with
our comrades in Tokyo, London,
Paris and Berlin in broad and
powerful united front against war.
Support the Second U. S. Con-
gress Against War. Every branch
of the FS.U. must be represented
at the anti-war Congress in Chi
cago on September $3.50.
Organize mass demonstrations
aginst their war plans in front of
Japanese ConSulates.
Wire protests to the Japanese
Embassy in Washington.
Build the F.S.U. as a powerful
defensive weapon to protect the
achievements of the Soviet work
ers and farmers. Build a mass cir
culation for Soviet Russia Today
Prove once more that the masses
Of working people can and will pre-
vent or postpone another world
slaughter. Defend the Soviet policy
of peaceful socialist construction
against Japanese imperialism"
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1934-08-24
GREEN'S Anti>Union Drive
Begins in Painters

MIR WILLIAM GREEN'S widely publ
IVA cized plan for driving Communists and
militants from the unions of the American
Federation of Labor has been put into
action in New York.
Local 499 of the Painters Brotherhood
has received notice from District Council
No. that it's charter has been revoked and that
every member of the local should consider himself
expelled from the A. F. of L.
Why was this action taken by Philip zausner
Illegal secretary treasurer of the District Council?
First of all, it was Local 499 that exposed Zaus-
ner's underworld connections and led the fight for
the ousting of zausner who used gangsters to
halt genuine fight of the rank and file painters
against the Master Painters Association for union
conditions
Secondly, zausner's scheme of driving striking
painters back to work under non-u union conditions
and then collecting money from them was failure
due to the opposition of the rank and file of the
Brotherhood led and initiated by Local 400 mem
bers
Thirdly, the fact that Local 499 took the present
strike in their hands, elected broad rank
and file strike committee and carried on active
mass picketing against the will of zausner has
driven the corrupt leadership of the Brotherhood
to despair.
In this state Of despair, seeing the union lead
ership slipping from their graft-staned hands, the
District Council following the advice of the leader
of the labor misleaders, William Green issued the
order for the ousting of the local
The opening guns in the campaign against
militant labor have been fired. New ammunition
is being brought up by Mr. Green's agents in Other
sections Of the Federation and the guns are being
trained on other unions in the reactionary attempt
to devitalize American labor.
What union will be attacked next is hard to
say. But the attack is definitely on The ''purg-
ing" campaign, started in the Painters Brother
hood, will strike other unions and will be disas-
trous blow at American labor if it is not nipped
in the bud at the first point of attack
The rank and file painters are being modified
to wipe out the anti-labor decision of the Zausner
gang in mass meeting at Manhattan Lyceum
on Tuesday night. The A. F. of L. Trade Union
Committee for Unemployment Insurance is nobiliz-
ing union members to protest Green's plan at a
meeting at Webster Hall next "Wednesday
This vile attack on Local 499 must serve as a
signal for concerted drive of all organized labor
to block Mr.. Green's attempt to throw out the
best forces from the unions
The fight of Local 400 against the custer edict
must be the starting point for the mobilization
Of all mitants in the unions for decisive mass
action against the dead hand of the ton Official
dom of the A. F. of L
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1934-08-24
Area
Sets Record
In Harvest
Special to the paiIy workerl


MOSCOW, Aug. % (By wireless
The first section of the U. S. S. r
to complete the harvest and thresh-
ing of grain is the autonomous
region of Northern Osetia in the
North Caucasus.
Despite the dry spring, the col
lective farms of Osetia obtained a
harvest unparalleled in the condi-
tions in this region. Wheat is 1877
centners per hectare; rye 1875 cent
ners, and in some individual col
lective farms, 81 centners.
Again the advantage of organized,
collective labor made itself felt
When the danger of drought hung
over the region, the collective farms
by joint efforts rapidly formed a
big irrigation system. They dug
1850 kilometers of irrigation canals
among which some reach II to 20
kilometers in length. Wedding OF
grain crops. not formerly practiced
here at all, is now widely resorted to.
All this, together with deep trac-
tor ploughing, rapid early sowing
and other measures, impossible in
small individual farms. insured a
good harvest for the collective farm
regions.
The income of the collective
farmers, particularly their grain re-
serves, considerably exceed last
years.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1934-08-24
Cuba's SenI-Feudal In,perialist System
Shaken by Strike Waue in Past 3 Months

ing the important sugar mills Media
Luna and Niquero, and the workers
of Verguitas and Campbechuela,
threatening to spread to Malay
(the sugar mill famous for having
been the scene of the first Soviet
in Cuba, Yara, Yara Arriba, Buey-
cito, CaIicito Jibacoa, ETC., with
great possibilities or struggles for
the land.
The strike was general: docks,
sugar mills, ships, transport, COM
lnercial establishments, bakeries, etc.
The strike grew in solidarity with
Media Luna, owing to the acts of
terror carried out by Lieutenant
Bequer. The general strike, with
its slogan of solidarity with the
workers of Media Luna, had other
slogans of high political level: the
dismissal of Lieutenant Bequer and
Captain Cruz Vidal supervisor of
Manzanillo; the punishment of the
machadista Delio Nunez Mesa
reinstatement of the comrades dis
missed from work in Media Luna;
liberation of political prisoners;
opening of the Federation of the
Port and payment for all damage
caused; liberation of the hunger
strikers in Havana, democratic
rights, guarantees for Ordoqui. etc
This strike was not carried on for
mere economic demands. The fact
that the agricultural workers il,
various places FASTENED to seize the
land, that the peasants decided to
support the movement, taking pos
session of the land, shows the de-
termination of the masses to fight
to the end for bread, land, and
freedom.
In Media Luna workers control
was established. The strike COM
mittee of Manzanillo became the
United Committee of Action, con-
sisting of representatives of striking
workers, peasants, soldiers, etc. A
great struggle of the toiling masses
against the whole regime of semi
feudal imperialist exploitation ano
oppression.
Bloody terror was let loose against
these masses. In the massacre o.
Media Luna five we're killed ano
twenty-three wounded, when Ser.
geant Larrazabal broke up a meet
ing of 500 workers, massacring men
women and children
But, in spite of all the efforts O.
the ruling classes to realign theil
forces and to obtain the support o
the toiling masses. through dema,