davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1934-07-07
WASHINGTON

Eggs-Market on nearby ungraded
quality. Government graded eggs
steady to firm. Quotations on q. s.
extras, large, and U. s. extras, me-
diums. 1c higher. Best current receipts
merry whites II 1Sc, fancy lots bring:
ing 1920 premium. Government graded
and dated eggs: u. s. extra, large. ESQ
26c; U. s. extras, mediums, 23hc;
U. 8. standards, large. 22hc. Govern
ment graded and dated brown eggs:
U. s. extras, large. 2sc: U. 8. stand
Live Popltry-Market steady at un-
changed prices. Fowl: Colored' 1s@
15c; legherns. 10613c; roosters, 1890.
Spring brci!ers: Plymouth Rock, fancy.
24c; average, 20@22c; Rhode Island
reds. 19@21c; colored. 10000: leg
horns, ~ pounds and less; 1s01sc,
toms, 12c; old hens 14@16c.
Cantaloupes-One Arizona, 2 California
arrived: broken and unbroken cars
on track. Supplies light; demand mo-
derate; market steady. California, sal
mon meats, ponys. SIS, $3.50; ass. $z.75
$500: Arizona, salmon meats, jumbos,
Sss, .$4.5O@4.75; ASS. .$4.75 @ 500: North
$1.2501.50; 27s, $3.50 @2.0O: South Caro-
lima, salmon meats, standards, all sizes,
$1.00@1.75.
Honeybails-one California arrived; 1
unbroken car on track. Supplies light
demand light; market steady. Califor-
mia. jumbos, sss. $4.So@5.OO; ASS. $500
@6.25.
Honeydews-one California arrived; Q
broken and 2 unbroken cars on track.
Supplies light: demand light; market
steady. California, standard crates, 50
and 9s, 16@2.25; 12s, S2.40@2.50.
The Washington times., 1934-07-07
COTTON PRICES
OFF SLIGHTLY

NEW YORK, July 7 GN.SO.
Cotton futures continued to work
lower today, although losses were
small.
While in the western drought
region the only rainfall shown on
the previous nights map was a
light shower at Abilene, Texas,
scattered showers were forecast
for east Texas and the southeast
portion of west Texas.
Long interests, liquidating in
heavy volume during the early
dealings, were unwilling to stay
with their commitments because
OF the contingency of break in
the drought over the weekend.
They were unsettled by weakness
in Liverpool, where closing bids
were 10 to 13 American points
below due prices. In addition
approach Of the official acreage
report on Monday discouraged
new buying from the outside.
Final prices were off 4 to 7
points, with July off 4 at 11.88;
October off S at 1905; December
off 6 at 1919; January off 6 at
1925; March off at 1894, and
May off Z at 1912,
The Washington times., 1934-07-07
Control Board
Bans Member
Speculation

Speculative transactions by en-
ployes of the new securities and
exchange commission are banned
This was made known at a press
conference by Joseph P. Kennery,
the chairman. He said the COM
mission had not voted.
Kennedy said the commission
wished to make clear to prospec.
tive employees that information
which might come into their hands
while working for the commission
would be of no use to them.
He added the commission was
proceeding slowly in discussing
organization work and that no
important decisions had been
reached. Asked if there was any
intention of cracking down" on
the stock markets as soon as the
law permits, Kennedy said mo
body has the last word, and there
fore we shall probably move care
fully so that we do not stop any
thing legimate.
Kennedy was not certain what
attitude the commission would
take on actual installment pur.
chases. The purpose of the rul-
ing, he said, was to be sure that
employees should make no use Of
special information coming to
them
The Washington times., 1934-07-07
Shutdown Forced
j At WeirtOn Mills

The shutdown Of one plant by
the Weirton Steel Company and a
drastic curtailment of production
of its two other plants has been
forced by a sharp decline in de.
mands for finished steel, it is an.
nounced by j. C. Williams, preSi-
dent.
The Clarksburg (W. Va.) plant,
which is devoted exclusively to
finishing processes, has been
closed for an indefinite period.
One blast furnace has been with.
drawn from production at the
Weirton works, while the open
hearth operations have been re-
duced more than SO per cent. with
prospects for a further decrease.
A substantial reduction has
been made in operations Of all
finishing mills, both at Weirton
and the Steubenville (Ohio) works.
The Washington times., 1934-07-07
Decline for Steel
b ActiUitH Discounted

No cause for alarm is seen BY
Business Week in the adjustment
bf common business indices tt
hummer levels. It says:
"Getting down to hot weather
levels Is always q difficult ad-
juStment for business. Steel's
dramatic decline of the past two
weeks Is likely to assume more
significance than it deserves. The
steel industry is used to letting
up in the summer months in
good years, though ordinarily it
starts preparing for it long be-
fore the last week in June. This
year, code provisions coupled
with price increases and strike
threats tended to extend the ac-
tive phrase of the industry
through the second quarter at
an exceptionally high rate. Con-
sequently the drop to holiday
week levels is precipitOus and un-
duly alarming"
The Washington times., 1934-07-07
METAL MARKETS

NEW YORK. July Z GN.S.).-Cop.
per buying abroad continues quiet to-
day with the price equivalent to ITO
cents pound, c. i. f. Hamburg, Havre
and London. Blue Eagle copper for
domestic shipment was still quoted al
cents a pound delivered to the end
Of October.
According to a cable from Berlin,
base metal manufacturing quotas have
been reduced again for the purpose OF
conserving metal stocks to hand Call.
ing the consumption Of metals during
the first quarter of 1894 as 100. third
quarter consumption is decreed as 100,
though second quarter quotas stood at
rs for copper, 120 for lead and 16O fer
tin.
Lack Of ability to finance purchases
of metal abroad il the reason for the
conservation policy. Individual excep-
tions to these quotas will be made.
Demand for zinc was quiet with the
price unchanged at ABS cents East
st. Louis. The American Zinc Institute.
Inc. today reported stocks of the metal
in the United States at the end of
June at 1858 short tons, against
1O4,732 a month earlier. and 122,s91 a
year ago.
Lead pricp was unchanged t.,3.75
cents per pound New York and 3.60
cents East st. Louis.
The Washington times., 1934-07-07
LIVESTOCK MARKETS
PTTTSRTIRGH

Hogs-Receipts, 500; holdovers, 500;
market slow, mostly 1Oc lower. Heavies,
$4.75@5; medium, s5.O0@5.10: light.
$5.OO@5.10: light lights $S.76@A6O;
packing sows, s3.25@S.S5; pigs, 5000
$50.
Cattle-Receipts so: nominal: (not
many dry-fed steers here). Top, $7.4O
on few heads; bulk good grass steers.
$5.75@6.60; steers (900-1100 lbs.), good.
$5.7S@7.4O; heifers (55o-86O lbs.l good,
4.75@5.25 (x). Cows. good, $3.0003.75:
bulls. good-beef, 33.Oo@s.75..
Calves-Receipts. 40; market steady.
Bulk vealers, $3.50: selected. $500; veal
ers good and choice. $5.5O@6.0O.
Sheep-Receipts 100: market nominal.
Lambs good and choice. $S.25@S.6O:
yearIinga withers good and choice. $500
@$6.O0: aged, withers medium good.
S2.25@3.2S: ewes, good and choice,
$2.00@2.2s:
(x)-Based on grassers.
The Washington times., 1934-07-07
PLAN
. IS DECLARED
OPERATIVE

CHICAGO, July 7 G.N.S0
The reorganization plan of thu
Armour Company was declared
operative following its approva
by stockholders yesterday. Elk
changes Of stock under it will be
undertaken Immediately, and 9
letter of instructions will be sent
to stockholders today. it is re
ported.
"A vote of 3,42O,2S5 shares of all
classes of stock was rolled ZIP in
favor of the plan, as against only
2,427 shares Of all classes opposed
Commenting on the action o1
the stockholders in adopting the
plan, President T. G. Lee said
Old Problems
"TOday's action Of the stock
holders will 90 q long way
toward solving the problems
which have confronted the
company for some years. am
very happy that the stock
holders have taken this step
because 1 believe this is a sound
plan that will benefit them as
investors in this business. /
am especially pleased that the
vote was so large. TOday's
meet marked the largest rep
resentatiOn of ArmOur's stock
holders of which we have any
record. I believe that this
meeting will be the beginning
of a new period Of progress for
this company"
The meeting was attended by
more than 500 stockholders.
There were a few protests from
individual stockholders, one woman
criticizing the action of the man.
agement in spending money for
exhibits at the Worlds Fair while
dividends were not being paid
She also asked if the officers and
directors had been asked to make
equal sacrifices in the matter OF
salary as the stockholders had
been asked to make in their hold
ings under the plan. In reply
to this question, M. T. Moore.
attorney, revealed that Lees in.
come from all sources in connec,
ton with the Armour Company
amounted to $4,000 annually.
Balanced Plan
The plan is one of balanced
sacrifices. Common stock owners
who approved it will turn in their
present 1000. 900 shares for a new
common, with no par value in.
stead of $25. Owners Of "a" stock
will trade it in share for share,
owners of "B" stock will sur.
render two old shares for one of
the new.
Preferred stockholders, to whom
the company owed $24.5O a share
in dividends, renounce these
claims in exchange for two shares
Of new common stock. In the
place OF z per cent preferred,
they will take 6 per cent. They
gain heavily in voting power;
common stock owners, who form.
erly held 81 2-5 per cent of the
power, now will WELD only 39.6
per cent.
The Washington times., 1934-07-07
N. Y. Bond Quotations

NEW YORK, July 7 dN.sJ-
Strength in the United States
Government issues featured a gen,
orally strong market in bonds to.
day.
U. s. Treasury As gained an
other 2-32 of a point at 1895.
The 31ss were up 1872 at 102.30,
and the 3As of 1946. 3-32 at
103.27.
Dealings in the second grade
and more speculative rails was
comparatively dull in sympathy
with stocks but the price move.
ment was toward slightly higher
levels in some instances.
Prime investment obligations Of
rail, industrial and utility cor
porations were firm around their
best prices Of the year.
New York City Traction obli-
cations were in fair demand
again today as the Third Avenue
Railway adjustments advanced a
half point to So.
Communications Liens were
quiet and firm. Motion Picture
bonds also were steady.
The Washington times., 1934-07-07
CLOTH PRICES STEADY

NEW YORK. July 'U.N.sD.-1n the
shortened holiday week just finished,
the coarse yarn cloths market expert
although prices for leading constructions
continued relatively steady.
The print cloth section moved few
goods largely because mills repeatedly
turned down bids for goods at less than
quoted prices. Most traders took this
as evidence that mills were in a position
to await revival of trading at current
prices. and were not under the necessity
of moving goods at concessions.
A point which was considered signifi-
cant was that the curtailment which
has now been in force for five weeks
had substantially reduced production.
and this was an important factor in the
mills position.
The Washington times., 1934-07-07
RISE
SEEN SHARP
By International News Service


Retail trade spurted this week,
providing the one bright spot on
the industrial horizon, Dun &
Bradstreet, Inc, reports. Volume
of distribution to consumers rose
to the best level in a month and
topped this week last year by
from to 25 per cent, the re-
view declares.
In other directions recessions
are noted. Hot weather and the
vacation season brought whole
sailing to a standstill while the
Sharpest reduction of the year
was recorded in industrial oper-
ations. The survey continues:
"The fact that distribution
continues to make some head
way Is the most encouraging
phase of current developments
as the lower rate of production
in most industries means
further heavy inrOadS into &C
cumulHted stocks, thus augur-
ing we'll for q rather abrupt
upturn i'm manufacturing Oper-
atiOnS early in the fall"
Dun & Bradstreet also cite the
possibility that progress being
made on new financing pro
posals may change the outlook
in the next few weeks while i'm
provement in the building indus
try may throw unexpected orders
in the way of the durable goods
trades.
The Washington times., 1934-07-07
GLASS | ROADS,
OPERATING NET
IS DOUBLED

Class / railroads Of the United
States for the first five months in
1884 had o net railway operating
income Of $1SS,s77, $40, which was
at the annual rate Of return Of
Ill per cent on their property in
vestment. according to reports
Just filed by the carriers with the
Bureau Of Railway Economics.
IN the first five months of 1888,
their net railway operating in
come was $94,9l8, 1893 or 1.08 per
cent on their property invest
ment.
This compilation is based on re.
ports from 148 Glass / railroads
representing a total Of 239,303
miles.
Gross Revenues
Gross operating revenues Sotaled
81 l,S47 ,033, 1888 compared with ST.
1891, 1873 in 1888, an increase Of
1875 per cent. Operating expenses
amounted to $1,003, ,889 ,536 COM
pared with $883,616,03l, an in.
crease of 1875 per cent.
The railroads paid $106, ,444,.
193 in taxes compared with $1O9,-
O42, 2,306, a reduction of "a per
cent. For May alone, the tax bill
amounted to $21, ,872, ,345, a reduc-
ton Of $154,503 or OF per cent
under May, 1888.
Thirty.three Glass railroads
failed to earn expenses and taxes.
Eight were in the Eastern, five in
the Southern and twenty in the
Western District.
The carriers for May alone had
q net railway operating income
OF $39, ,494,980, which, for that
month, was at the annual rate of
return of 1.99 per cent on their
property investment. In May,
1888. their net railway operating
income was Sal, ,042, 1928, or 205
per cent.
Gross operating revenues for
May amounted It o $2S2, 2,O23, 1854
compared with $255,241,3S1 in
May, 1888, an increase of 1O.5 per
cent. Operating expenses in May
tota1e d $210,011,001 compared
with $l81 ,578,4 in the same
month in 1888, or an increase of
1877 per cent.
Earnings by Districts
In the Eastern District the
roads in the first S months of
1884 had q net railway operating
income Of $121, ,670, 1903 which vas
at the annual rate of return of
2:75 per cent on their property
investment. For the same period
in 1888, their net railway operat-
ing in come was $73.804.3O3 or
1.66 per cent.
In the Southern District the
Glass l railroads had a net rail-
way operating income Of $29,114,-
177, which was at the annual rate
OF return Of I'll per cent on their
property investment. For the same
period in 1888, their net railway
operating income amounted to
SIS, 1896, ,302, or 1873 per cent.
Class l railroads in the Western
District had a net railway operat-
ing income Of $33, 1893, ,16O, which
was at the annual rate of return
Of LA per cent on their property
investment. For the same five
months in 1888 they had a net
railway operating income of ST..
717,793. which was at the annual
rate of return Of O.06 per cent.
The Washington times., 1934-07-07
Bank Openings
I25 For June

During the month Of June,
125 more banks opened through
out the United Stats. the Amer.
lean Banker reports, bringing
the total Of bank openings for
the first half Of 1894 to 94S,
Of which 327 were under nA-
tiOnal charter and GIL under
State supervision.
Openings last week amount
ed to 30, with six national and
23 State banks making up this
total.
The number Of banks Oper-
ating ON q 100 per cent un-
restricted basis at the 1884
midyear tOtaled 1887, the
American Banker estimates, as
compared with 1871 on March
~, 1888, and 1880 on Decem-
ber 81, 1882, just before the
banking holiday last year. Five
years ago, on June 80, 1929,
there were 25,11O banks In the
United States.
The Washington times., 1934-07-07
MONEY MARKETS.

NEW YORK, July (1.N.s.).-CalI
money held over at per cent on the
New York Exchange today and at 1 n
per cent on the Curb. Outside the
rate was Y per cent.
Time money was quiet and un.
changed at y to / per cent for all
maturities.
Commercial paper was inactive, with
the rate remaining at Y to l per cent
Bankers acceptances rates were un-
changed at u to S-1S per cent for 80
so and 90 days. to Y per cent for 120
days and u to y per cent for $50 and
The Washington times., 1934-07-07
LIVERPOOL CLOSE

LIVERPOOL, July .G.N.s).-There
was a limited demand for spots at the
opening Of the Liverpool Cotton Mar
ket today with prices generally steady.
Receipts totaled 5000 bales. including
no American.
strictly good middling. 7.2Od: good mid
ding, S.sod; strictly middling, 6.75d;
middNng. $500: strictly low middling.
6.45d: low middling. $500; strictly good
ordinary. s.OOd, and good ordinary
6.70d.
Futures opened quiet and steady and
closing bids were 6 points below due
prices. Final quotations showed July
at $3.50, October at 6.29d, January at
Sad and March at 6.25d.
The Washington times., 1934-07-07
Chain Store Sales in June
Little Better Than MAY

the best shopping day Of the week,
an extra such day has a subStan.
tial effect in advancing the total
for the month.
Reports of the 10 companies
that have so far made their June
reports public show aggregate
volume of $99,511, ,281, an increase
Of $13, 1854, $50, or 15h per cent,
over the $86, ,146,731 in the similar
month Of 1888.
During May these identical or.
ganizations advanced their volume
by $12,664, ,646, or 14.4 per cent, to
500, ,622, 500. In April the advance
was $8,770.724. or 10 rs, the ag.
gregate for that month having
been 500, ,e27.
The Washington times., 1934-07-07
Sugar Sales Rise
On "BUuinq MOUe''

Sales Of refined sugar by the
United States can sugar refinerS
and beet sugar companies on
the ''buying move" of June %.
when the cane sugar quota
tion was advanced from 4.65
cents per pound to ATS. cents per
pound, approximated 25.16S,0OO
bags Of 100 pounds each. or 1883
400 short tons. according to an eS
innate made by Lamborn and Com
pany. . LA-.A.4i A-lY4r.4i..-A
The Washington times., 1934-07-07

NEW YORK, July 7 ,Q.N.s).
With the aid Of an extra Saturday,
business Of the chain store and
mail order concerns during June
did slightly better than hold the
pace of increase established in
May, according to early returns Of
the months results.
Although some of the chains
noted a tapering off in sales ad-
vance toward the middle of the
month, this was more than offset
by the inclusion of good buying on
the final day, the fifth Saturday
in the month. Last year June had
four Saturdays.
1nssmuch as Saturday Is by far
The Washington times., 1934-07-07
KelUinGtOr Corp.
ShiDnlentS SDurt

Shipments to customers by Kel-
vinator Corp. for the first nine
months Of the present fiscal year
which began last october / totaled
1851 units, a gain of 32% over
shipments for the corresponding
period Of the previous fiscal year,
and well ahead Of that entire
years total shipments, according
to H. w. Burritt, vice president in
charge Of sales.
The Washington times., 1934-07-07
Farmers RepGying
On u. S. Corn Loans

The Farm Administration re-
ports farmers are repaying loans
on corn stored under Government
seal at the rate Of about SIS, 900
per day, or the equivalent of
100000 bushels. Repayments to
date have released about 7,O0O,.
600 bushels.
The total amount stored under
seal on which the Government
advanced loans of IS cents per
buShel was estimated at 270, ,000,-
600 bushels, with a loan value
Of about $120, 100000.
The Washington times., 1934-07-07
Baltimore Building
Is BeLOU Last Year

Building permits issued in Balti-
more during June amounted to
$685. $50, compared with $685., ,16O
in the like month Of 1888.
During the first six months Of
1884 permits were valued at S.
O67 1886. Total permits issued dur
ing all Of 1888 were valued at $O,-
620, ,lO6.
The Washington times., 1934-07-07
v;';7; $1,000 y;::' ss::::' N. Y. Curb Quotations

NEW YORK, July z U.N.SJ.-
The Curb Exchange today wound
UP one of the dullest weeks in
its history with volume Of trading
continuing at extremely low
levels.
Prices moved in q limited
range, the weekend contributing
its normally restricting influence
to the general apathy. Prices,
however, displayed a firm under.
tone.
Scattered profit-taking and eve
ming up was apparent in q num-
Der of issues which had made the
best showing in the rise Of the
last 2 days. This brought a drop
Of a half point in Glen Alden
Coal and smaller declines in
Pittsburgh Plate Glass and Dow
Chemical.
Utilities continued to maintain
q firm tone. Electric Bond &
Share moved in q fractional
range around the previous close,
while the rest Of the group was
steady. Trading was light.
The heat wave failed to Stimu-
late the brewery shares which
were dull and quiet. Interest was
light in the petroleum shares and
small changes were the rule in
favoriteS like International Pc
troleum, Humble, Standard Of In
diana, and Gulf.
Packing shares displayed a
tendency to advance but the dull
ness in the rest of the list held
the gains in the Armour and
Swift issues to small fractions.
Phillip Morris was stronger,
equallt1g- its high for the year.
The Washington times., 1934-07-07
BANK STOCKS

NEW YORK, July 7. U.N.s)-Quo
tations on the following securities art
obtained from the Security Dealers AS
sociat ton Of New York. There are nc
official quotations. This is a bid and
ask market and and the , actual sale o. o.
tions.
IL noon bid and ask prices with
Fridays closing price for the leading
bank stocks follows:
The Washington times., 1934-07-07
John II. Wilkins Co.
To Pau on Common

The board of directors of the
John H. wilkins Company, coffee
merchants, have declared the reg
ular Semi-annual dividend of 4
per cent on the outstanding pre-
ferred stock and a dividend Of
$3.50 per share on the outStand-
ing no-par common stock.
Both dividends are payable July
16, 1884.
The Washington times., 1934-07-07
Bids and Proposals

TREASURY DEPARTMENT, Procurement
Division. Public Works Branch, Wash
ington, D. C.-Sealed bids in duplicate
subject to the conditions Of Executive
Order No. 6646. dated March IA, 1884.
will be publicly opened in this office at
2 p. M, July II. 1894. for furnishing all
labor and materials and performing all
work for the construction of a steel
framed building. ETC.. at Virginia Avenue
and Second Street, 8. W.. Washington,
D. C.. Specifications may be obtained
from this office in the discretion of the
assistant director of Procurement. Public
Works Branch. w. E. REYNOLDS, As.
sistant Director of Procurement, Public
Works Branch.
TREASURY DEPARTMENT, Procurement
Division. Public Works Branch. wash
ington. d. C.-Sealed bids in duplicate
will be publicly opened in this office at
D. M. July II. 1884. for furnishing all
labor and materials and performing all
work for the miscellaneous changes in the
motion picture laboratory machine room
in the u. q. Department of Agriculture
ExtensibIe Building at Washington. D. C.
Attention il directed to the Executive Order
No. 6646. dated March II. 1884. and the
special conditions of bidding set forth in
the specification. Drawings and specific
cations may be obtained At this office in
Procurement. Public works Branch. ". z.
REYNOLDS. Assistant Director Of Procure.
ment. Public Works Branch. 4
The Washington times., 1934-07-07
STORE DIVIDEND

Interstate Department Stores
has declared a quarterly dividend
of SITS on the per cent cumu-
lative preferred stock, payable
August l to stock of record July
20. In two previous quarters
similar payments were made.
The Washington times., 1934-07-07
BUFFALO

EAsT BUFFALO. July N.N.s.).
weak to 1oc lower: better $50 to ssc
pound averages. $5.1O 05.s5; no heavies
here. Less desirable 10000 pound
weights. S4.35@4.75: pigs and light
lights, $3.25@4.25; sows. SS.75@4.15.
Cattle-Receipts. SO. Compared week
ago better fed steers, steady; lower
grades and cows and bulls, 25c or more
lower. Weeks prices top. 1,185 pounds
steers, $1,000 top: heifers, 1915; bulk
fed steers, $3.50 @s:75; short fed and
palmer kinds, $3.50 @7.U9: cutter kinds,
below $500: mixed yearlings, $4,000
$50; most cows. $3.00@3.50: cutter and
low cutters $1.75@2.75;S medium bulls.
Calves-None. Compared week ago
market steady; bulk. good and choice
vealerA $5.S0@6.00: mostly $500 at
close; common and medium, $500 q s 90.
Sheep-None. Compared week ago.
fat lambs. soc lower. Sheep, steady: top
lambs for week. $500; bulk medium to
good sorts, $s.O0@S.5O; common, down to
$3.50; fat ewes, S1.5O02.75.