davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1934-05-18
Company Legal Owner

did the insurance company
have constructive notice that
the SwartZell, Rheem and Hen
sey Company vas not the owner
and had not the right or author
ity to sell the notes in question?
"ThrOughOut the entire trans
action Rheem acted on behalf
of Swartzell, Rheem and Hensey
Company, and his interest in
the sale and transfer Of the
notes was that of the Swartzell,
Rheem and Hensey Company
and of himself, and not that OF
the insurance company, to
which his interests at that time
were adverse. In that situation
and under the circumstances his
knowledge could not be imputed
as notice to or held to be the
knowledge of said insurance
company. 1t was to his interest
to conceal from the insurance
company the lack of authority
in his company to sell the notes
and the law does not by a fic-
ton charge the insurance COM
pany with knowledge of the
fact that Rheem did not disclose
that which it was to his interest
to conceal. american National
Bank v. Miller, 229 U. S. ST..
"The court holds that the
Potomac Insurance Company is
the legal owner Of the notes in
question and entitled to pay
ment Of the interest accrued
thereon" VS. -',
The Washington times., 1934-05-18
AAA PAYMENTS
S9,1z2,589

Rental and benefit payments
disbursed by the AAA to pro-
ducers participating in three of
the major 1884 adjustment pro-
grams have reached a total of
$9,172,589, Farm Administration
reports.
Payments were divided among
the commodities as follows: To-
bacco, $6,635. .369; cotton, $2,246,-
217, and corn and hogs, 1921 ,OO3.
Rental payments to cot on
growers are being made at a
rate of nearly $25O,OOO per day.
1t appears that the first INSTALL
ment of approximately $50.000,-
900 will be in hands of the CO.
operating producers within six
weeks, according to AAA Off
cials.
The Washington times., 1934-05-18
Who Gets Interest?

"Rheem was president an. .
director of SwartZell, Rheem
and Hensey Company. He was
also vice president, one Of the
directors and q StOckhOlder of
the Potomac Insurance Com.
pany. 1t had long been the Gus
tom of SwartzelI, Rheem and
Hensey Company to sllbE1it to
the Potomac Insurance Com
pany applications for the sale
of notes and bonds for invest
ment. The persons who have
intervened left their notes with
SwartZell, Rheem and Hensey
Company. The direct evidence
and the evidence. Of the notes
themselves shows that those
notes were simply Endorsed in
blank and left with Swart1ell,
Rheem and HenSey Company
not merely for safe keeping but
also for collection. It had been
the practice for more than 10
years for parties who bought in
veStmentS or notes from Swart-
zell, Rheem and Hensey Com.
pany to leave their notes with
that company and leave it to
the company to collect the in.
terest on them before they were
paid off, and collect the prin-
cipaI and forward the same to
such purchaser, with the priv
ilege expressly reserved in such
notes to anticipate the maturity
of them by paying the princi.
nal and tH months interest, or
/ per cent thereon, and 1t was
under these terms that the notes
The Washington times., 1934-05-18
FRENCHFORE|GN
TRADE LOWER

Imports into France during
April amounted to fir. 2,035, ,000,-
600; compared with fir. 2,291, ,000,-
900 in March and fr. 2,426,0C0,000
in April, 1888. Exports during
April amounted to fr. 1,470,000,-
900, compared with fr. 1,489,-
100000 in March, and fr. 1901
100000 in April, year ago.
The import surplus for the first
four months of the current year
has dropped to fir. 2,709,000, 900
from fir. 4,173,0O0,000 in the CORE
spending period a year ago..
This was due to the sharp re-
duction in imports, which were
valued at fr. 1892, 100000 in the
first four months of this year,
compared with fr. 10,237, 100000
during the like period last year.
At the same time the value of
exports remained almost station
ary at fir. 5,984,000,0OO thus far
this year compared with fr.
6,059, 100000 last year.
The Washington times., 1934-05-18
International Nickel
Net Up Is Per Cent

By International news service
A Is per cent increase in earn
ings and a 327 per cent gain in
cash were shown by the 1nterna-
tional Nickel Company, of Can
ada, in its report for the first
quarter Of 1884.
Net profit amounted to $5,049,-
276, equivalent after preferred
dividends, to 81 cents common
share compared with $4,026,565,
or 24R cents a common share, in
the preceding quarter. In the
first quarter last year the COM
pany reported net loss of
$50, 1853.
Cash as of March 81 totaled
$18,691, ,720, against $14.085, $40 at
the close of 1898. Current assets
amounted to $45, 1881. $50 and cur
rent liabilities totaled $5,657,179,
against $4O,318,O40 and $5,021.710,
respectively, on December 81. last.
The Washington times., 1934-05-18
Innocent Purchaser

"The members Of the board Of
directors and the finance COM
mittee of the Potomac Insurance
Company acted throughout the
transaction in good faith and
as an innocent purchaser, unless
there may be a question of con-
Structive notice to them be-
cause of Rheem's relationship to
his company and his connection
with the insurance company.
"The original note holders or
owners had trusted the Swart-
zell, Rheem and Hensey Com
pany. They had left their notes.
endorsed in blank with said
company, not only for safe
keeping, but for collection, and
that company was the agent of
said note owners. Swartzell,
Rheem and Hensey Company,
being in possession Of said
notes, and because of the way
in which they were endorsed
gave anyone dealing with
Swartzell, Rheem and Hensey
Company in regard thereto had
the right to treat them as the
notes of Swartzell. Rheem and
Hensey Company and there is
nothing in the transaction to
show that Swartzell, Rheem
and Hensey Company held or
dealt with them in a fiduciary
capacity.
"ThOse note holders who had
deposited their notes with
Swartzell, Rheem and Hensey
Company placed their conf
dence and trust in said COM
pany and that company having
been guilty of fraud and ir-
regularity in the sale and dis
pOsal of said notes, they the
said note holders having made
possible the loss that followed,
are the one of the two innO-
cent parties who must bear
the loss.
"There would not be any real
question in this case If Rheem
had not been vice president. q
director and stOckhOlder in the
Potomac Insurance Company.
He attended meetings of the
board of directors of said com.
pany somewhat irregularIy. AS
vice president he performed no
duties except occasionally to
sign checks when the officer
whose duty it was to do so
was absent. The evidence shows
that he had absolutely nothing
to do with making the invest
ments either in bonds or notes
secured by real estate on be-
half Of the insurance company
and there is nothing to show
that he acted on behalf Of the
insurance company in the sales
Of these notes. In the sale of the
notes he ac:ed outside the
scope of any authority express
or implied, in behalf of the
Insurance. company, and he
acted adversely to the inter-
ests Of said company, and in
no sense di' he act as the
agent of the insurance com.
pany in IT, transaction.
The Washington times., 1934-05-18

dwellings and have wonderful
possibilities.
There was a time when that
portion Of the city was where the
elite of the country made homes.
Right down near the Capital,
Daniel Webster, Henry Clay and
other Intellectual giants Of bygone
days, lived and made this coun-
try's history.
These sections are as beautiful
now as they were then-the only
difficulty is that It Is no longer
fashionable to live there. So there
Is something in name, after all.
Naturally, it was the traffic
problem that brought the state
ment from Mr.. Nolen.
Traffic problems come along
with autobomiles, which have
done something more than change
the real estate map OF the uni
verse.
But the lopsidedness Of the city
has already begun to adjust itself
without the necessity of artificial
stimulation, according to Virginia
developers. For several years
these gentlemen have capitalized
on the advantages of their Sec
tions due to transportation con-
veniences. They actually furnish
demonstrations to their clients to
show how many minutes a subdi-
vision may be from the White
House. The sales argument has
been most effective and wide high
ways have solved the traffic prob
lem.
But the remote northwest and
adjoining Maryland communities
are a veritable beehive of activity.
Business enterprises have furn-
ished an index Of the growing de-
velopments. Chain grocery and
drug stores, awake to the. posi-
bilities of locations in Major E.
Brooke Lees communities, have
been established there, where
traffic and parking difficulties
have not as yet arisen to disturb
the comfort of the inhabitants.
There seems to be sort of New
Deal in community planning in
those sections. Plenty Of room is
provided about the buildings. and
the streets are wide and open.
Curb service and park and shop"
privileges are important points OBJ
served in the planning.
o. H. Garvin, one of the we'll
known builders of the city, has
just returned from a flying trip
to Florida.
j. Merrill Connor, who has just
branched out with an office of
his own after having spent
decade with the Caywood Broth
ers and Garrett firm, is renting
desirable apartments just about
as fast as he can list them.
Moreover, he has just taken
over a whole string of flats near
Fifteenth and E Streets North
east. In all there are Is two
family flats. In the apartment
line, however. he has but four
vacant units. So there is an.
other evidence Of the housing
shortage in the District.
The Washington times., 1934-05-18
Notes Past Due

"For some time prior to this
transaction the Potomac Insur.
ance Company had deposited in
the Washington Loan and Trust
Company, for collection, notes
in the aggregate sum Of $4,000,
which it had previously pur-
chased as an investment from
Swartzell, Rheem and Hensey
Company. These notes. had
matured, were past due and on
all except one, the trust by
which said notes we're secured
had been released. The evidence
shows that the insurance COM
pany had no knowledge what
ever that the trust had been
released. 1t requested the
SwartZell, Rheem and HenSey
Company to take up said notes
as it was getting near the end
of the year and it either did
not care or it would be en-
barrassing to carry said over
due notes as assets Of the
The Washington times., 1934-05-18
GERMAN TRADE.
'UNF FAVORABLE'

German exports in April totaled
rm. 316,o00,O00, as against rm.
410,000,000 in March. Imports
were rm. 398,00O,000, unchanged
from March, making a deficit Of
rm. 100000 for April, against
a surplus Of rm. 100000 in
March. The diminution in ex-
ports is due partly to seasonal
influence.
On the import side, there was
another increase in the imports
of raw materials to Tm. 53,000,-
900 from rm. 244, ,7OO.00 in March.
It is thus apparent that the re-
strictive measures are not exerciS-
ing an appreciable influence.
The fact that the huge deficit
in the trade balance, which is
unequalled since 1929. comedies
with the transfer parleys which
are now going on is diversely COM
mented upon in foreign banking
circles, although no circumstan-
tial evidence exists which would
permit the supposition that the
statistics are incorrect or that de-
velopments have been influenced
artificially. In any case, it is pos
sible that German industry has
encountered new difficulties
abroad as the result of deprecia-
ton of foreign currencies and
boycott measures against German
goods.
OF the latest gold loss of the
Reichsbank, rm. 100000 is due
to interest payments abroad, espe-
cially on the Young loan. T h
remainder of the loss is attributed
to the unfavorable trade balance.
The Washington times., 1934-05-18
CHART|STS SEE
STOCK RALLY
CONTINUED
BY WALL STREET SPECTATOR

BY WALL STREET SPECTATOR
NEW YORK, May 1S G.N.SO.
The stock market after fluttering
around all morning, finally got
up enough courage yesterday to
try it's wings and see if they still
worked. When. to its great sur
prise, they did, the list did a
little flying.
The rally, however, had moth
ing more than technical proper
tions, considering the length and
breadth of the decline of the
past four weeks.
The silver news which came
out of Washington overnight was
a considerable factor in bringing
about the rebound. The silver
boys, however, are looking for
some more news. They persist in
pointing out that when the Presi-
dents message to Congress is
read, it will be of a more spec
tacular nature than is now
thought.
Another point that the silver.
ties persist in making is that con.
cerning the japanese inroads on
world markets. They insist that
raising the price of silver is as
good method of combating low
oriental costs as any yet Sug.
geSted.
Chartists are looking for the
market to rally further here. On
a technical basis the list is
entitled to a so per cent come
back. The high on the upward
movement reached in the latter
part of April was 107. Since
then the market receded to SO
on the Dow, Jones averages, a
decrease of 18 points.
The Washington times., 1934-05-18
Columbia G.. e E..
Net Income Drops

BY International News Service
Columbia Gas and Electric
Corporation net income for the
IL months ended March 81
amounted to $12,534,693. equal
after preferred dividends to so
cents common share, COM
pared with $16,190.278, or 86
cents a common share, in the
preceding IL months. Gross was
SIS, 5,924,076, against $76.574,270.
In the quarter ended March
81, net income totaled $5,504,607.
compared with $5,466,674 in the
like quarter last year, while
gross was $23,776,308, against
$22,305,547.
The Washington times., 1934-05-18
Maryland Credit
Group Cuts Interest

Interest charges on Southern
Maryland Production Credit As
sociation loans have been reduced
another half-cent to per cent,
announces Maynard Roberts of Up
per Marlboro. secretary-treasurer
of the Federal body.
The reduction will apply to
farmers receiving loans on
budget basis and other money due
a borrower. The cut is due to the
ability of the intermediate bank
at Baltimore to sell its debentures
at a lower rate,
The Washington times., 1934-05-18
BUFFALO

EAST BUFFALO, N. Y. May 1s (I.N.
S.).-Hogs, $500: holdovers, 266. Active; !;
steady with Thursdays average Bulk
desirable, 1S0-25O pounds, $40; few,
16O-19O pounds, $4@4O5: mixed and
palmer quality, 1915: 140-16O pounds,
$3.6OG4. Pigs, downward to 50.
Cattle-S5O Cows premoninatinR:
steady fleshy offerings, $340@ 3.75; cut
ter grades. $1.76@2.90: medium bulls.
$3.50; common to medium grass steers
$3.50; good yearing steers and heif-
ers held above $6.75.
Calves-5O0. Vealers active. 50 cents
higher. Good to choice. $500 to main
ly 81; common and medium. $4.25 @ SIS.
Sheep-70O. Lambs unchanged. Good
to choice shorn lambs S.s5 few me-
dium kinds and yearlings. 1886 down;
Winter shorn lambs 1925 fat ewes, 81
m3.5O; heavies. $3.50 down; good to
ch oice spring lambs quoted. $10.25 Oil;
few inferior sold, &7.0O.
The Washington times., 1934-05-18
LIVESTOCK MARKETS
-. CHICAGO

CHICAGO May IS G.N.SD.-Hogs-
$4,000; steady. Top, $3.50; bulk, $3.50
@S.7O; heavy, $500 $40; medium
$S.6503.sO; light, $3.6Om3SO; light
lights, $40 @3.S5; packing sows. 1915
@3.25: pigs. $:Q3. Holdovers, 1000.
Cattle-22O steady. Calves 500
steady. Beef steers, good and choice,
SG9.25; common and medium. $3.50 q
s: yearlings, $50 $50. Butcher cattle.
heifers. s3.5n165O; cows $3@4.75;
bulls, $2.75@ calves. $4Q6.5O; feeder
steers. $4.50M6; stcoker steers. SAC
$50; stocker cows and heifers $3.50
@475.
Sheep. 900: Csc higher: lambs. $50
$3.50; common, $55OG750; spring
lambs. $sm1O.75; yearlings. $6.5O@S;
feeders, S6@7.5O; ewes, $2.5O@4.5O.
The Washington times., 1934-05-18
CHICAGO

13.4 tubs; steady; old cars, IA; new,
12; creamery extras 22hc; standards,
23c; extra firsts, 22@22Ac; firsts, 21A
921%c; seconds, 2lc; specials, % q 23i5c.
Eggs-29.17S cases; unsettled; old cars.
%; new, 80; ordinary current receipts,
14@1412c; fresh extra firsts. less than
cars, 15%c: cars. 16Ac; fresh firsts
less than cars. 15c; cars, 15&c; dirties
and checks, 12@13hc.
Cheese-Twins 12ia 612%c; daisies
13@13Ac; longhorns and prints. 1S@
The Washington times., 1934-05-18

there are home
sites in the
northeast and
southeast sec.
tions just as
d e ir able as
those in the
northwest.
Those opera
tors who have
taken occasion
to look closely
agree that the
elm = S h a d e d
streets ION the
other side of
town" fra m e
ture S Que
The Washington times., 1934-05-18
CLOTH MARKET

NEW YORK, May 1S U.N.s).-With
buyers still holding aloof awaiting more
definite news of Curtailment and the
clearing of other uncertainties overhang-
ing the market, trading in coarse yarn
cloths today continued quiet and prices
for the most part remained unchanged.
The belief that curtailment was virtu-
ally certain gained wider credence as
news of deliberations of the code author
ity during it's sessions in Washington
began to be circulated.
The Washington times., 1934-05-18
GIVE
EAR To NOLEN
HOME TIP :.
BY DICK BAKER

Real estate opeatrors all over
the city are giving serious con-
sideration to the statement yes.
terday Of John Nolen, jr., plan
ming director Of the National Park
and Planning Commission. that
this city is lop-sided and that
The Washington times., 1934-05-18
NEW YORK WOOL,

NEW YORK, May 18 .N.S.).-wool,
quiet, dom fleece. unwashed, Ohio
Penn, 273Sc; dom pulled, secured
basis, II @9sc; dom Texas, clean basis,
$50 S5c; dom territory, clean basis, 61Q
S5c,
The Washington times., 1934-05-18
NAVAL, STORES

NEW YORK, May is uN.S.). - Pc
troleum strong; crude, Pennsylvania, 217
@255 Linseed oil, per lb.. al carlots.
Turpentine, firmer, 56h. Rosin, firm; ;
common $50
The Washington times., 1934-05-18
Principal Produce Markets

moderate: market steady. Florida, 1h-
bushel crates, ass and 40s. fancy. large
size, wrapped, 81; small sizes lower,
Cucumbers-Supplies moderate; de-
mand moderate; market steady. Florida,
bushel baskets, fancy $15O42.50.
Oranges-Three California, l Florida
arrived, broken and Z unbroken cars
on track. Freight receipts, Florida
boxes. $4@L25.
Grapefruit-No carlot arrivals; 2
broken cars on track. Florida, freight
receipts. boxes. s36350.
Lemons-No carlot arrivals. No cars
on track. California boxes Sunkist,
$6.5OQ7.OO.
NEW YORK
NEW YORK, May Is S).-But-
ter barely steady: salted and unsalted
creamery higher scoring. 24% q 62S%c;
creamery extras, 241s @25%c; creamery
firsts, 22h 25Ac.
Cheese-Quiet: state whole milk flats,
special, 1SG19c; average run, 15@16c:
Wisconsin whole milk, fancy young
Americans, 1S% 614c.
Eggs-Less active. nearby white
specials, 2o@ 2o1zch standards, $50
1Shc: mediums, 17617i3c; nearby
brown specials, 1912 @22c; standards,
19c; mixed specials, d2011c: stan
dards, 1914 61SAc; firsts, lie; sec
onds. 16Ac; mediums, 15k 615kC;
Pacific coast white. fancy packs, 240
csc; standards, 22923hc: mediums,
2O17 @21hc.
The wholesale price is $2.1O per 100
pounds No. ! fluid milk within the
2O1-210 mile zone.
The Washington times., 1934-05-18
CT,EVET,ANn

CLEVELAND, Ohio, May 1s-Hogs+
Receipts 500; market fairly active and
steady; top and bulk Of the good
hogs. $50.
Cattle-Receipts 100: market active
and steady: top sales. $3.50; choice
quotable, $7@S.
Calves-Receipts 900; market steady;
action fair; top, $3.50; bulk of the
better grade, 81.
sheep-Receipts 500; market steady:
quality very poor good clipped lambs
quota BILE. $3.50; good spring lambs,
$11.50.
The Washington times., 1934-05-18
PITTSBURGH

PITTSBURGH, May Is U.N.S,) ,).-4ogs
i, 900; holdovers, $50: steady: heavies,
1915 $3.50; medium. $3.7O@41O; light,
$4@4.1O; light lights. $3@4; packing
sows, $225 a 2.75; pigs, $3.50 @ 2.75.
lbs). good. S6.25 7.2O; hefers (o5O-
$50 lbs.), good. 1915 @6.25; cows, good.
So. Is q 4.25; bulls, good beefs. $375@
Calves-1OO: so cents higher; vealers,
good and choicss sSs,5O@7.
lambsJ rs oh8ut higher. lambs, 600
lbs. DOWN. good and choice, $S.75n9 Y;
wethers, medium choice. 1905; ewes,
good and choice, $464.5O; spring lambs,
good and choice. $10@11.
("Not extreme limit of grade.)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-23

$500 GALLONS
Of ICE CREAM
FROZEN DAILY
Doubie-Dip Cones Featured
in Fetal Stores of Tomp-
kinS Firm.

The sitting grip of hot weather
has brought new customers daily
for the Tompkins Ice Cream Com
pany, owner of eight branch stores
and a factory in indianapolis.
The plant at 1929 Northwestern
avenue is filling a growing demand
for the twenty f1avors offered. Dou-
ble-dip cones are featured by the
stores.
In production an accurate check
OF temperature is maintained at all
times to insure a cream OF uniform
smoothness. Special attention IS
given the single. high state Disco
lator with a capacity of 60U gallons.
Running at a speed OF twenty gall
Ions every seven and half min
utes, $500 gallons are produced
daily.
Ice cream not intended for inn
mediate consumption goes to the
cold storage room where it is kept
at temperature of IL degrees be-
low zero.
Only extracts of the best quality
are used to flavor the creams and
no artificial flavoring is employed.
company officials declare.
The stores are located in every
section of the city, among them one
at 1907 South Meridian street and
another at 2107 Shelby street.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-23
Marked Departure From
Orthodox Designing
Widely Debated.

That the architecture introduced
at A Century of Progress exposition
is already beginning to exert its in
f1uence upon American building
styles, is seen in the plans for a
windoWless department store Sears,
Roebuck & Co. is erecting this
summer on Chicago's south side.
First retail department store IN
the world to be built without win
dows, it also will be the first to have
complete air-conditioning and
scientific ventilation on all sales
floors. 1t will have round
control of air movement, purif1ca-
ton, heating, cooling, humidifying
and dehumidifying.
From his conpany's headquarters,
John Burke, manager for Sears in
Indianapolis, received today infor-
nation telling some of the details
about the new windowless store.
1.-The nearest thing to windows in
the establishment will be four slim
spires of glass rising f1fty-eight feet
above each entrance" Mr.. Burke
said. These will shed fountains Of
light into the ends of the center
aisles, where customers may ex-
anime style merchandise and piece
goods they frequently wish to see in
daylight before purchasing. The
columns of glass serve a strictly
unitarian purpose and fit in with
the new stores frankly functional
plan.
Five stories in height and fin
ished in Indiana limestone trimmed
with black granite, the new store
will contain a sub-basement and
columns for three extra floors to
provide for expansion. The main
basement will house a Hillman food
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-06-23
STATE BAN ON
BEER SIGNS is
LIFTED BY cox
Fry Lacks Power to Issue
Drastic Rule, Judge
Declares.

Issuing q permanent Injunction
to prohibit the ban on outdoor beer
signs. Circuit Judge Earl r. Cox
set aside yesterday one Of the dras-
tic rules made by Paul Fry, state
excise director
Mr.. Fry S ruling that restaurants
and other beer dispensing places
could not display beer signs outside
their place Of business confscates
property and unnecessarily works
hardships upon the owners. in Judge
Cox's opinion.
Mr.. FRY clearly is nothing but an
administrative officer and as such
has nothing but administrative pow
powers and can not infringe either
the legislative or judicial functions
Of government" the ruling held
The ruling came in connection
with an injunction petition filed
against Mr.. Fry by the Allied Neon
Signs Manufacturing. Inc.
Mr.. FRY said yesterday that ne
would have no comment to make
until he had read the court ruling.