davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1934-05-02
Business Neus
Spotlight

American RadiatOe Company
has reOpened its BayOnne plant
giving employment to about 500
people. Daily average crude
oil output for the week ended
March 28 increased 8,875 bar.
rels. Electric Bond and Shares
net for the IL months ended
March 81 was equal to 80
cents a common share against
So cents in the preceding IL
months. r.. C.. A. netted ST..
235,725 in the first quarter COM
pared with a loss of $47S,1 164 in
the first quarter of last year. =.
Standard Oil of New Jersey de-
clared the regular semi-annual
dividend Of so cents, payable
June IS to stock of record May
16,
The Washington times., 1934-05-02
STEEL ACTIVITY
RISES DESPITE
OBSTACLES

NEW YORK, May 2 GN.S)-
Steel production scored another
gain during the past week, rising
two points to So per cent Of
capacity, the Weekly Iron Age
review disclosed today. The rate
Of expansion, however, was re-
tarded by labor difficulties in
automobile plants.
At Cleveland, where the Fisher
Body Corp. was shut down be-
cause of strike steel output de-
clined from SO to Ct per cent Of
capacity, but at all other pro-
ducing centers operations held
their own or advanced. At Pitts
burgh, production rose two points
to At per cent, at Chicago two
points to 81 per cent, in the Phila-
delphia district one point to 43
per cent, in the Valleys two
points to 81 per cent, at Buffalo
eight points to 10 per cent and
in the Wheeling area seven points
to 79 per cent, Southern plants
are still on a So per cent basis,
while Detroit operations continue
at 100 per cent of capacity.
The reopening of the Fisher
Body plant at Cleveland this week
and the apparent subsistence Of
labor disturbances elsewhere have
resulted in the lifting of en-
bargoes against steel shipments.
Accordingly some further increase
in steel production is in prospect,
with the likelihood that last
years peak rate of SO per cent
will be soon surpassed.
Orders Cancelled
Considerable tonnage in the ag.
gregate was cancelled on May
because April quotas were not
fully specified. Unless releases
mount rapidly in the next Is
days, Mills will find it physically
impossible to turn out all of the
tonnage covered by contracts be-
fore June 30.
New structural steel projects, at
1880 tons, are the second largest
of the year. Awards, at 22,35O
tons, compare with 21,420 tons in
the previous week and 1860 tons
two weeks ago.
April automobile output is be-
lieVed to have totaled 100000 units
and May production is expected
to reach at least 375,0OO, although
manufacturers are commencing to
be disturbed by indications that
their price boosts have retarded
sales.
Scrap Composite Dips
Declines at Pittsburgh, Chicago
and Philadelphia have caused the
Iron Age scrap composite to recede
from $1242 to $12.17 a ton. The
going into effect of additional ad-
vances have raised the pig iron
composite from $17.57 to $3.50 a
ton. The finished steel composite
is unchanged at 2.222c pound.
Pig iron production in April
showed a gain of IL per cent over
March and reached the highest
rate since August, 1888. A further
expansion for May is indicated by
net increase of 13 active blast
furnaces since April l. Total out
put in April was 1,754,647 tons and
the daily average was 58,488 tons,
compared with 1,619.534 tons and
a daily rate of 52.243 tons in
March.
The Washington times., 1934-05-02
Galley NOU Heads
National SaUinqs

H. Preston Galley assumed his
duties as president Of the Ma
tional Savings and Trust Com
pany yesterday, relieving William
D. Hoover, who has been at the
head of the institution for IS years
and now becomes chairman Of
the board.
Galley has been a director in
the trust company for several
years and has also served on the
executive committee. He has also
been counsel for the bank so is
already in close touch with the
banks affairs. He received many
congratulations yesterday and his
desk was decorated with a hand
come bouquet of flowers.
The Washington times., 1934-05-02

NEW YORK, May 2 G.N.SJ.
The bond market showed a much
improved tone today, with firm
ness in U. S. Governments and in
veStment grade loans the out
standing characteristics.
Treasury 3As of '46 and Treas
ury IS rose moderately.
American Waterworks IS led
the high grade division, while the
Atchison general As annexed a
smaller gain.
Rails continued spotty, with
Nickelplate 512s outstanding with
gain of about l point. Erie SIS
of rs and Southern Railway gen.
eral IS eaSed fractionally.
Paramount Broadway 5Rs fea-
tured the domestic group, with a
run-up of more than point.
Colombian Government bonds
featured the South American divl-
sion with gains of l and more
points.
The Washington times., 1934-05-02
CLOTH SESSION QUIET

NEW YORK, Nav .. G.NS).-The
coarse yarn cloths market experienced,
an extremely quiet session today, 40
moderate bidding for goods slightly
under quoted levels in the early trading
dried up in the afternoon when 1t be-
came apparent goods were not forthSs
coming.
There were reports that scattered Offer
ings had been made to shade previous
quotations, but this drew forth little in
the way of business and the volume
for the day was SO small as to be inS
significant. "
The Washington times., 1934-05-02
Hog Market ActiUe
With Prices HiQher

CHICAGO, May 2 GN.SD.-The
hog market was active and
stronger today with sales mostly
5 to 10c higher. Some good
hogs sold at $3.85 with better
kinds held at 81. Orders were
light from shippers and small
packers.
The supply of cattle was TO-
900. All good to choice steers
that had weight sold steady to
strong, but the palmer light cat
tie were slow to move at barely
steady prices. Cows and heifers
sold steady to strong for heavy
weights. Stockers and feeders
showed no change.
The best lambs held at $10.25.
The Washington times., 1934-05-02
Continental Oil Co.
Nets rs Cents Share.
By International News Service

BY International News seFVlc0
The Continental Oil Company
and subsidiaries report for the
three months ended March 81
1884, showed consolidated net in.
come of $1,211,483 after depletion,
depreciation, interest charges and
minority interests.
This is equal to IS cents q
share on 4.728,593 shares, and it
compares with net loss of $685."
247 in the first quarter of 1888.
Total current assets March 81
were $36,727,020 and total current
liabilities were $8,090,277.
The Washington times., 1934-05-02
LOUISVILLE


LOUISVILLE. Ky, May G.E.S).
Cattle-275, including 20 direct. Run
includes load stOckers. Salable supply
slaughter classes light: demand fairly
broad; market active and fully steady.
Common TO medium grade steers and
heifers $4,000 $50; better finished,
$3.50. Reef cows, $3.2564.25 low cut
ters and cutters. $1.5O62.75. Sausage
bulls. 1915 down Desirab BILE light
Hereford and shorthorn stockers. $4T5
a 5.25; common to medium grade ma
tives. 1904.
Calves-35O: steady. Better vea'ers,
81. so q 5; strictly choice, $3.50; medium
and lower grades. 81 down.
Hogs-1OO; steady. Ton and bulk
finished. 17o-24o pounds. 1915; 2l5-
270 pounds. $40: 275 pounds up. &3O5:
1875 pounds: $3.25; 12O-140 pounds.
$1.90: sows. $3.50.
Sheep-150: steady. Better spring
lambs O5OG11; palmer grades down
50 or less. Better wooled lambs. $500:
Gull to medium, $4@7. Better clipped
ewes, $2.5OM3.
The Washington times., 1934-05-02
Trusts
AtLOner ADernneS

Investment trust securities re-
acted moderately during the past
week reflecting the movement in
the securities markets in general.
The average for the common
stocks of 10 leading management
trusts. influenced by the leverage
factor, as compiled by Allied Dis
tributors, Inc, stood at 1901 as
of the close April q, compared
with 1854 on April 20.
The average of the non-lever.
age stocks stood at 1916 as of
the close April q, compared
with 1879 at the close on April
20. The average of the mutual
funds closed at 11.39 compared
with 1855 at the close of the
previous week,
The Washington times., 1934-05-02
SafelUay Systems
Business Is Better

Safeway Stores, Inc, sales in
the four weeks ended April 81 to-
tailed $17,630,191, compared with
$685. ,4O1 in the like 1888 period,
a gain of 8.45 per cent. For the
16 weeks to April 81, sales
amounted to $69,435,154, against
$62,513, ,688 in the same period
last year, an increase of 11.07 per
cent.
The Washington times., 1934-05-02

ging" Of liquor
still thrives in
our land.
That it does
is obvious. One
evidence is the
fact that we
still see Gin New
York, at leaSt)
little S h o p S
which sell fla.
vorings and ap-
plia noes for
making "home
brew" liquors OF
all sorts.
And the rea.
Rnn iS alco 0hVi.
The Washington times., 1934-05-02
LIVESTOCK MARKET
CLEVELAND

CLEVELAND. Ohio May G.E.Sl.
grades steady; top, 81 paid for good
to choice 160-25O pound hogs.
Catte-ReCeipts 175; availa BILE supply
largely cows and l0w-grade steers;
market steady with fair action on all
cattle.
Calves-Receipts 500; market steady
with Tuesdays close: good to choice
vealers. $7G7.50; common kind show
ing most action.
Sneep-Kecelpls l'o""' tat lamb trace
lambs, 1915 a 9; few choice kind, 1926.
The Washington times., 1934-05-02
Steel Production
EQUALS July Level
Bx International News Service

BY InternatlOhaI NeWs oeFVlCO
Equalling the high of 81 per
cent hit last July, steel produc-
ton rose 2 points to a new 1884
high, the magazine Steel reports.
The publication predicts a con-
tinued rise with the possibility
that peak levels may not be
reached until June.
The Washington times., 1934-05-02
CHICAGO

CHICAGO, May H.N.SD.-Hogs-
$4,000: 5@1Oc higher. Top. $3.50; bulk
sS.6Og g3.85; heavy, $3.50 m&.s5; medium
$3.6O@3.90: light, $3.50 a $50; light
lights, $5.0O@3S5; packing sows, $27O
@3.1O; pigs, "a 2.35. Holdovers 1000
Cattle-10. 900; steady. Calves 1000
steady. Beef steers, good and choice.
$7.5GQ9; common and medium, $50
$50: yearlings, &6.5O6S.5O. Butcher
cattle: Heifers. So 25 @6.25; cows. $50
AIS; bulls. $3d4; calves, &4;d7: feeder
steers, $4.50@6; stocker steers, $4@
$50 stocker cows and heifers, $3.50
@4.75.
Sheep-s OOO: 10@15c higher. Lambs,
50 1925: common. $66S: sn"ing. IS II
11.50; yearlings. $7@s.5O; feeders. Sc
as; ewes, $3d5.25.
The Washington times., 1934-05-02

Ibs), good, sS.25G7.1o; heifers $3.50 70
$4m45O; bulls good. beef. $4d4.25.
Calves-1OO: Csc lower; vealers good
and choice. top. $3.50.
Sheep-5OO Cshorn basis; except spring
lambs) steady, 1Oc lower; lambs go
lbs. DOWN. good and choice. 50 a 9.15:
wethers, medium choice. $40 $50: ewes.
medium choice. &4d4.50; spring lambs
good and choice, $1O.50d $50.
The Washington times., 1934-05-02
CLedrings Increase
In Baltimore Banks

Baltimore clearings totaled $223,-
824,8O8 during April, compared
with $144, 400 ,593 in April, 1888, &C.
cording to the Baltimore Clearing
House.
The Washington times., 1934-05-02
PITTSBTJRGH

PITTSBURGH. May On S).-Hogs
.1.0O0: slow; SC higher: heavies. $3aO@
4. Is; medium. $4.15 $50: light, $40
$50 lights $3.5O64oO: packing sows,
$2.75 G3.25; pigs. $36325
Cattle-25; steady; steers 600 to 100
The Washington times., 1934-05-02
NAVAL STORES

NEW YORK, May 2 S).-Petro-
leum steady. crude Pennsylvania, $2.01
m2.45 Linseed oil per pound, $50
9.5c., carlots. Turpentine. weak, 55&
656I2c Rosn, weak. common, $780,
The Washington times., 1934-05-02


Gus: We have repealed the pro
hibition law. But we have not,
and cannot, repeal economic law.
When there is money in it," both
for producer and consumer, the
thing will be done unless, perhaps,
a strong public opinion exists
against it. If consumers can
make "bath-tub" gin much cheaper
than the real article, they will
do so.
30 when we keep the price OF
liquor so high that the bootlegger
can make a profit at prices lower
than the Legitimate" dealer, we
may expect bootlegging. BY re-
stricting imports and by heavy
taxes, we attempt to maintain
artificial prices. Bootlegging is
the answer.
Nor is the lesson limited to
spirituous beverages. We can see
it illustrated in dozen industries,
as for example, in cotton, copper,
and petroleum.
IF I am correctly advised,
cotton b0Otleggers have existed,
and they promise to be abund"
ant this summer. The New
Deal Government has been
doing its best to maintain an
artificialIy high price for cot.
ton. It is carrying millions or
bales directly, or indirectly on
loan. It has advanced money
to cotton farmers on the basis
Of the desired high price Of Is
cents for cotton.
So we find the farmers buying
large quantities of fertilizer, and
in other ways seeking to raise as
much as they can on the reduced
acreage they have pledged. Ap-
parently, too, many who had not
formerly raised cotton will not
consider then mselveS bound.
Weather and weevil permitting,
the South may raise as much cot
ton as before-unleSS the present
decline in price brings economic
law to the rescue.
Against the better Judgment OF
some in the industry, the copper
people appear to be trying to keep
frozen" their huge load of sur
plus metal, and to sell "Blue
Eagle" copper at 81a cents, with
hopes of running up to 10 cents.
But already bootleg copper" IS
for sale at less than the lower
figure.
The "hot oiI' with which the
petroleum industry has wrestled
so long is just bootleg" oil, due
to artificially high prices.
This industry still labors under
The delusion that there is some
fixed market demand" for gaSo-
line which exists regardless OF
the price, forgetting that the one
sure way to increase the quantity
demanded is to reduce the price.
FF And the one sure way to get
rid of bootleg oil, copper, cot
ton, and gin, is to let the price
follow the law of supply and
demand.
I can see nothing sound or
lasting in this so-called economy
of abundance" 1t seems to mean
an effort to fix prices so that the
only way the consumer benefits
is through the bootlegger.
What we need is an economy
Of balance-balance between sup
ply and demand, leading to bal
ance between production and con.
sumption. This can be attained
only by allowing low prices to
make abundance available to con
g,mers, at the same time shutting
off the excess production OF high
cost producers.
That would mark the exit OF
the bootlegger and the return OF
normal business.
po;I Note Pic0
The Washington times., 1934-05-02
NEW YORK WOOL

NEW YORK, May UN.sD.-WooL
firm, domestic fleece. unwashed, Ohio
and pennsylvania 27@39c.; domestic
pulled. secured basis, Tia CSC; domestic
Texas clean basis, $50 S5c.; domestic
territory, clean basis, 61GS5c.
The Washington times., 1934-05-02
N. Y. STOCK QUOTATIONS
CONTINUED from Preceding PaRe)

cash (o) Partly extra (cl Extra
stock stock. teI PAID in 1888 CtI On
No regular latest
(hI Payable in stock. (m Special (nl 81 IN stock
With (xw) without warrOntA ~ Ex.divtdSnd
~ Ex.rightA
Dividend rate In dollars parsnthesia CSOts) Extra
dividends published through regular dividend period
The Washington times., 1934-05-02
WRITER OFFERS
REASONS FOR
BOOTLEGG|NG
BY LEWIS HANEY
Professor Of Economy, New York
University

There should be a great lesson
Tor us in the recent realization at
Washington that the bootleg.
The Washington times., 1934-05-02
v;sSs ssssos 5;;i::' :s::::' N. Y. Bond Quotations

United states High Low 1900
The Washington times., 1934-05-02
BOND MARKET AVERAGES

Copyright, 1894. standard Statistics
Company
NEW YORK, May U.N.S).
Evening star., 1934-10-17
truth ABOUT FOOD
URGED BY EXPERTS
Diet Literature Far From
Honest, Dietetic Asso-
citation Is Told.

The American Dietetic Association
was urged today by Mrs. Mary
Schwartz Rose, Columbia University
professor Of nutrition, to combat mis-
leading literature on diet by cultivat-
ing truth and giving the public scien-
tific facts.
She read to association members,
assembled in the Mayhower Hotel, ad-
vertisements and reports that claimed
among other things that most Of our
troubles are caused by acidosis, that
spinach is necessary to health, that
sugar is essential to energy-building,
that calcium is the staff Of life, that
sufficient amount of -four would Gre
ate immunity against disease, that
starches and proteins will not mix
and obese persons could reduce and
still eat as much.
Holds Youth Affected.
All these claims she attacked, point
ing out that young people are grow
ing up with distorted ideas of what
the body needs.
DR.. Martin e. Rehfus, discussing
Diet and Dietary Fadism." said, THE
fadists have reached a point where
they are a positive menace not only
to the health of the community, but
an insult to the reasoning of intelh-
gent men and women"
Along this hne he showed that 1t
has been said that drinking water is
the cause Of great deal Of indiges-
tion. He added that people will ban
meat because it has proteins and eat
bread ignoring the fact that 1t, too,
contains proteins.
"We maintain that it is q crime to
prescribe diets by mail, particularly
when the individual at the other end
Of the line may be q sufferer from
early malignancy," DR.. Rehfus argued.
At the exhibitors luncheon in the
Italian garden, Erma Perham Proetz
talked on Some Contributions of
Commercial Research to the Con-
sumner"
Evening star., 1934-10-17

Of washington, was chosen yesterday
chairman Of special committee to
consider Q long list of resolutions
bearing on international affairs, in
dustrial relations, economic questions
and social issues of other kinds at
the fifty-first triennial convention of
the Episcopal Church. With him win
serve Right Rev. Clinton 8. Quin,
Bishop of Texas, and Right Rev.
Almon Abbott, Bishop Of Lexington.
Bishop Freeman spent the entire
day in the Committee on Budget and
Program, where, point by point, a
new schedule of work for the church
and of ways and means Of financing
Is being developed. He told reporters
he was hopeful the convention will
adopt the committees findings and
take immediate steps to put them
into effect.
Rev. DR.. ZeBarney T. Phillips. pres
ident of the House Of Deputies, was
reelected q trustee Of the General
Theological Seminary.
A memorial from conference o1
young people recently held at the
College Of Preachers, Washington Ca
thedral, was presented in the House Of
Deputies by Rev. Arthur Lee Kin
solving Of Boston. The document dealt
with marriage. vocation and, prac-
tical but socially idealiStic philosophy
Of life as the dominant interests oi
youth today"
Evening star., 1934-10-17
GOV. OLSON RESIGNS
AS RELIEF DIRECTOR
Wires Hopkins Political oppo-
nents Trying to Make Work
Campaign Issue.
By the Associated Press.

By the Associated Press.
ST. PAUL, October 17.--Gov. Floyd
B. Olson resigned as administrator of
public relief In Minnesota and turned
over the duties to Deputy Administra-
tor L. p. Zimmerman.
In telegram to Harry L. Hopkins.
Washington, Federal relief administra-
tor, Gov. Olson declared that my po-
litical opponents have been endeavor-
ing to make the administration of
public relief In Minnesota q political
issue.
Despite the fact that Federal IN
vestigators have found their charges
groundless, they have persisted in
their political endeavors. am un-
willing that anything shall interfere
with the securing Of relief by the
needy or with the great humanitarian
program you are directing"
Gov. Olson is candidate for re-
election on the Farmer-Labor ticket.
Evening star., 1934-10-17
MISSIONS FORCES
LAUD ARMS PROBE
Methodist Convention Urges
Continuation of Study
as Peace Aid.

The sixty-fourth annual general
executive meeting of the Woman's
Foreign Missionary Society Of the
Methodist Episcopal Church opened
here today with assertion of a definite
stand for continuation of the Senate
Munitions Committees investigation
as a move toward world peace.
Mrs. George H. Tomlinson Of Evans
ton, ILL.,, chairman of the World Cit
izenship Committee. outlined the So
ciety's position, which also Is favor
able to American participation in the
World Court.
She said the organization also is
advocating general education as to
the effects of alcohol, and opposes
the block-booking system for movies.
During the current year the society
has gained 23, ASS new members, and
now has a total membership of more
than $4,000. according to Mrs. F. F.
Lindsay Of Minneapolis, membership
chairman.
Treasurer to Report.
Miss Florence Hooper, treasurer,
will report tonight on the society's
budget Although no exact figures
were available today, she said there
was a financial gain over last year.
The meeting this morning. the first
Of the public sessions, was devoted
principally to committee reports. The
officers have been meeting behind
closed doors for a week transacting
routine business and mapping the
budget.
Among the committee chairmen re-
porting today were Miss Hooper, on
the retirement fund: Mrs. Leon Roy
Deal, on the bylaws; Mrs. Harry e
Woolever, q Washington woman, on
the international department; Mrs.
Frank A. Horne, on library service;
Mrs. j. M. Avann. on the Central
Committee Wesleyan Service Guild;
Mrs. John D. Bragg, on the Commit
tee on United Study of Foreign Mis-
sions; Miss Clementina Butler, on the
Committee on Christian Literature for
Women on Children's Literature; Mrs,
Francis J. Mcconnell, on Union Col
lege; Mrs C. E. Simpson. on Swedish
work: Miss Amalie Achard. on Ger
man work in the United States and
Europe, and Mrs. Henry e. Wolfe, on
colored peoples conferences.
Seventy Missionaries Attend.
Approximately 10 foreign mission
aries are attending the meeting, which
1t is estimated, will draw about 1000
delegates. Throughout the sessions
they viii give demonstrations Of their
work and will dress in the garb of the
lands where they are stationed.
Most sessions are being held In the
Foundry Methodist Episcopal Church
Sixteenth and p streets. Headquar-
ters are in the Roosevelt Hotel
The principal address this afternoon
was to be given by DR.. Robert E
Brown. superintendent Of the wuhu
Hospital, Wuhu. China. Bishop Ed
win Holt Hughes will speak this eve.
ming.
Evening star., 1934-10-17

out Of civilization the safer they will
feel.
The economic and political Chinese
wall which is being built against Ger
many a forcing Hitler and Schacht
not only to make the Reich self
contained country but 70 seek support
wherever it. can.
There is only one nation which Is in
sympathy with Germany's policies,
that u Japan.
Toxic and Berlin Close.
News has. reached Warrington that
an agreement has been reached be-
tween Toxic and Berlin to stand to-
xether. During the next few months
the Germans viii send 500 pilots and
engineers to Japan to organise the
japanese aviation on . modern basis.
Last week Gen. Goering sent 10 Of
the pest airplane constructors from
the Reichsluft Ministerium to Toxic
They were headed by the kell-known
aeronautical engineer, Herr Mich.
Admiral Behnke has been instructed
to assist the japanese naval ordnance
DIR. Walter Lemke, one Of the leading
engineers Of Krupp's, Is already on MS
way TO japan.