davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1934-12-14
CURB L|STLESS
AND CHANGES
ARE MIXED
By THEODORE KOsLOw

NEW YORK, Dec. IA G.N.S0.
The curb market turned into a
dull and listless trading affair to-
day, with minor advances in Sc
lected issues offset by continued
heavinesS in other sections of the
list.
Electric Bond and Share showed
a stronger tone among the utlll-
ties, edging up 2s to ia. Niagara
Hudson Power firmed 1s to 312,
but a slight easing was noted in
American Gas and Electric, ana
American Superpower. AlcoholS
pointed upward, led by Distillers
Seagrams, which was up 3s at
1412. Canadian Industrial Alco-
hol gained 2s at 7, and Hiram
Walker was up "a at Is.
Metals moved along on a fairly
even keel. New Jersey Zinc
stood out with a gain OF 12
point to SO, and Wright Har-
greaves was up rs at 824, while
Hudson Bay, and Sunshine were
unchanged.
There were no outstanding fea-
lures in the speciality group.
Fractional gains were credited to
Babcock anad Wilcox, Ruberoid,
A. o. Smith, and Swift & Co.
Oils held narrowly. Standard
of Nebraska gained "a at 9,
while unchanged levels ruled for
International Petroleum and
Standard of Kentucky.
Investment trusts were slug
gish, with Pennroad sold rather
heavily and easing rs to IA.
Prudential Investors and Atlas
Corporation were also easier.
Cities Service common marked
time at 112, while the deben-
lures eased "a to 41A. Utility
bonds were mixed, with Electric
Power and Light SIS up 1s at
353a, and American Power and
Light IS down 3s at so.
The Washington times., 1934-12-14
TREASURY BOND
LIST STRONG
AND ACTIVE
BY SAUL LEHRER

NEW YORK Dec. IA QN.SD
A slightly firmer tone character
lied the bond market today.
United States government bonds
were strong and active at the
start. Liberty Fourth 4As third
called were unchanged Treasury
3Hs of 1946. and Home Owners
Loan As gained slightly. Home
Owners Loan IS were unchanged;
and while Home owners Loan
2AS were improved.
Speculative rail liens which
were weak at the close yesterday
showed signs of support today.
Chicago g. North western con-
vertible 4As were unchanged,
while the St. Paul SIS of 1875
went higher.
Medium grade rails were quiet
with Observation-Disclosures ad-
juStmentS down and Great North
ern Is up fractionally.
High-grade investment issues
were strong in sympathy with the
governments. Canada Is were
unchanged as were the Texas
Corp. IS.
There was little to feature deal
ingS in the foreign governments.
The Washington times., 1934-12-14
AAA TAX HELD
SMALL BURDEN

Louis H. Bean, economic ad-
wiser of the AAA, estimated total
retail sales this year at $28,0OO,.
100000 and processing tax COL
lections at less than $5OO,00O, 900
in his attempt to prove that the
tax increased the cost of living
less than l per cent.
The figures showed that Illinois
contributed the greatest amount
in tax collections, $91, ,990.189, due
largely to the concentration of
meat packing plants, which col
lect the hog processing tax of
$2.25 per 100 pounds in Chicago.
New York State followed with
$58,213,425 paid into AAA Golfers,
largely from cotton processing
and tobacco manufacturing. Other
States bulking large in collections
include those in the cotton spin
ming and weaving centerS and
tobacco processing areas: North
Carolina with $41,256,015, South
Carolina with $23,197.395, and
Massachusetts, with $29,O26.184.
The chief flour milling State,
Minnesota, paid $34.514,277.
Farmers in these States received
the following amounts in benefit
payments through October 81:
Illinois, $18,537,6 ,687; New York,
$162, 1894; North Carolina, $11,233,-
$40; South Carolina, $10,299, ,060;
Mass sachuSe t S, $302,818, and
Minnesota. $10.529,918.
In explanation of the diScrep-
ancy between tax collections and
benefit payments in such States
the administration asserted "the
amount of tax collections in any
State merely reflects the location
and concentration of industries
processing farm commodities. Tax
collections thus merely show the
quantity of taxable farm products
processed in that State. The col
lections in no way indicate the
amount of taxes borne by the
people living in that State"
The Washington times., 1934-12-14
Commodity Club
Being Organized
By International News Servlce

A business organization, mem.
bership in which is limited to per,
sons actively engaged in commod-
ity futures work, is being organ.
lied in the Wall Street area. The
organization is tentatively known
as the New York Commodity Club.
Many prominent firms have
representatives in the membership
of the club, including E. A. Pierce
and Company. H. Hentz and Com.
pany. Fenner and Beane, J. S
Bache and Company, Post and
Flagg. Thomson and McKinnon,
Hirsch, Lilienthal and Company,
Munds, Winslow and Potter. Lam,
born. Hutchings and Company.
and Boettcher, Newton and Com
pany. Jerome Levine, president
of the Commodity Exchange. Inc,
has also Joined the organization
Harold W.. Murphy of Post and
Flagg is in charge of applications.
The Washington times., 1934-12-14
MEN
PLAN CONGRESS
lHigh.lLow.l Loo

A record attendance marked
the luncheon meeting of the Dis
trict of Columbia Life Under
writers Association held at the
Willard Hotel yesterday, a, which
President F. George Clendaniel
presided and the guest spec ker
was Rev. Allen A. Stockdale.
Sustained enthusiasm for the
organization was the keynote of
several members who spoke briefly
and J. E. McCombs. chairman OF
the membership committee, was
particularly optimistic in out
lining the activities of his group
for the next few weeks, which will
culminate in a membership drive
the first Of the new year.
Initial plans for the coming
general sales congress to be held
here Friday. January 18, in con-
junction with the Baltimore Life
Underwriters Association, were
mentioned by Genera Convention
Chairman B. l.. Rogers. Lawrence
Choate spoke of the Importance
of members registering promptly
for this event. John Marshall,
superintendent of insurance for
the District of Columbia, was a
guest of the association and
responded briefly when introduced
by President Clendaniel.
DR.. Stockdale was introduced by
]. E. McCombs and in an in.
spirational address pointed to the
recovery feature of life insurance
and spoke o. insurance as an in
vestment that indicated provision
as we'll as provision. He also dwelt
upon the uynamics Of life in
c71roN, a cola IN q Vochin
The Washington times., 1934-12-14
Foreign Holders
Decide on White

BY International News Service
Francis White was today chosen
executive vice president and secre-
tary of the executive committee of
the Foreign Bondholders Protec-
tive Council, Inc, j. Reuben Clark
is president.
Mr.. White was United States
Minister to Czechoslovakia from
July, 1888, until he resigned in
December. 1888, and has since
been assistant vice president of
the International Telephone and
Telegraph Corp, and vice preSi.
dent of the Postal Telegraph and
Gable Corp, which posts he re-
signed to become identified with
the council,
The Washington times., 1934-12-14
Engineering Rises
During Past Week

Engineering construction awards
totaling $28,858,OOO in the week
ended Friday were 10 per cent
above the previous week and 1212
per cent over the average week
in December, 1888, according to
the Engineering News-Record.
Public work accounted for $22,-
O80,00O and private work for $4,-
100000.
New capital for the week in
cluded $2.485,0OO in municipal
bond sales. more than offset by
reductions in PWA allotments out
standing of $8,575,O0O.
The Washington times., 1934-12-14
Stockholders
R|SEFORG, N,

The total number Of General
Motors common and preferred
stockholders for the fourth Quar-
ter of 1884 was 350,164 compared
with 349,524 for the third quarter
of 1884 and with 351,761 for the
fourth quarter of 1888.
There were 330,823 holders Of
common stock and the balance Of
1884 represents holders of pre-.
ferred stock. These figures com.
pare with $330,475 common stock.
holders and 19,O49 preferred for
the third quarter of 1884.
The Washington times., 1934-12-14
HOUSING FOUND
|. BUSINESS AID

NEW YORK. Dec. 14.-The
modernization program of the
Federal Housing Administration
is developing business at the
rate of from $2,00O,00O to $780,,
600 day, James A. Moffett. Fed
eral Housing Administrator, in
formed the Advertising Club at a
luncheon yesterday.
But before a heavy construc.
ton program can be started, he
said, there must be created a
liquidity on the frozen mortgage
market.
Ask Cooperation
At the same time John H.
Fahey, chairman of the Federal
Home Loan Bank Board and Of
the Home Owners Loan Corpora
ton, speaking before the seventy
eighth annual convention of the
Association of Life Insurance
Presidents, urged the private lend
ing institutions to cooperate with
the Government and as rapidly as
possible to take over the supply.
ing of mortgage needs so that the
Government might be relieved of
its activities in that field.
Moffett stated that housing
loans at the rate Of 100000 daily
are being insured and by spring
five to six times as much will be
under way.
He informed the Advertising
Club that not only have the build
ing trades and the building in
dustry shared in the increases re-
sulting from the home moderni-
Zation program, but lik ewise
banks, building supply manufac-
turerS. home equipment manufac-
turerS and department stores.
Offers Proof
He cited as examples OF the
pickup in construction industries
that the Holland Furnace Com
pany increased its business 35 per
cent over october last year. Fox
Furnace Company gained so per
cent, the Masonite Corporation re-
ported an increase of so per cent
and the Crane Company ITS per
cent. New York Centrars traffic
in building supplies in November,
he said, showed a gain of 4112 per
cent over November, 1888.
The newspapers, he asserted, are
giving invaluable help in telling
American industry and the public
generally what the Housing Ad-
ministration has to offer them.
The Washington times., 1934-12-14
LOADING GS RISE
62,893 CARS
lHigh.LLo
BY International News Service

ny 1nIeFHatlONaI news service
Loading of revenue freight for
the week ended December 8 totaled
551,011 cars, the Association
of American Railroads announced
today. This was an increase of
62,893 cars above the preceding
week, which contained the
Thanksgiving holiday. 1t also was
an increase of 9,019 cars above
the corresponding week in 1898.
Miscellaneous freight 197,621,
increase 16,069 and 1.411; less
than-carload lots 157,078, increase
1868, decrease 5,463; coal 49,
088, increase 1922 and 1882;
grain and grain products 28,520,
increase 4,729, decrease 119; live.
stock, 20,195, increase 4,278 and
$500; forest products 20,524, in.
crease 1892, decrease 107; ore.
1897, increase 18 and 1923; coke
1888, increase 8o2, decrease 9o8.
The Washington times., 1934-12-14
Manhattan Bank
Lowers Dividend

Bank Of the Manhattan Com
pany directors declared a quar-
terly dividend of 3712 cents on
a $1.5O annual basis, against So
paid previously. The dividend is
payable January 2 to stock Of
record December 18.
j. Stewart Baker, chairman
stated at the annual stockholders
meeting that he would recon-
mend the cut, because the rate
of interest return on loans was
below a year ago, with general
business showing no sign of in
creasing loans from banks. thus
putting additional bank funds to
work,
The Washington times., 1934-12-14
Franc improves
AsPound Drops

NEW YORK, Dec. IA U.N.SD.
In dull and c0lorlesS trading
the dollar showed further slight
improvement today, ruling at
59.15 cents in terms of the
French franc.
British pounds sterling sold
down a quarter cent to $4.94M.
This brought a corresponding
rise in the London gold price
to 14O ShiIlings 9 pence an
ounce against 14O shillings 8H
pence yesterday. Converted into
dollars this was equivalent to
S34.77 an ounce, unchanged
from yesterday. The table:
The Washington times., 1934-12-14
Kann, Woodward
Pay Worker Bonus

Two Washington department
stores have announced that they
will distribute Christmas bonuses
to some 5000 employees. Wood
ward and Lothrop and the S..
Kann Sons Company both will
give bonuses for the first time
in several years.
The Washington times., 1934-12-14
LOSS REDUCED

American Car and Foundry Com.
pany reduced it's net loss in the
six months ended october 81 to
$330,754. after all charges, from
$1,538,772 in the corresponding
1898 period.
The Washington times., 1934-12-14
B. 60. Will Acquire
MOrgantOWn Line
BY International News Service

BY InteFhAtlOnaI News Service
The Interstate Commerce Com.
mission has authorized the Balti-
more and Ohio Railroad to acquire
the Morgantown & Kingwood, A.
mile line extending between Nor.
gantown and M & K Junction, w.
Va.
The Washington times., 1934-12-14
QUARTERLY CUT

United Verde Extension Mining
Company reduced quarterly divi-
dends on its stock to 10 cents a
share from Is cents previously,
payable February l to stock Of
record January 3.
The Washington times., 1934-12-14
N. Y. Curb Quotations
Volume Yesterday
$4,000 Shares
High. lLow.l 1900

mig I1On'l NV
Ainsworth Mfg ......l I'm II II
Air Investors .......l
Allied Mills ...... IL 11A IL
Alum Co of Am ...... 4Sh ASH 4Sh
Alum Co of Am pf 81 70 70 ~
Am Cities Pwr A ... BIN BIN 81
Am Cities Pwr B -. 1s Ia 1fs
Am Cyanam b ..... 16B 15A 16%
Ann Ann FGHOasrS Gss e Ell '..... ..... 1sss 1sS 1ss
Am Gas G. Ell pfd 81 SO S2l2 SO
Am Laund Mach 80 1914 13h 1874
Am Light & T ....f 8 8 g.
Am MaraCalbo ..... Y X
Am Superwr ........I 1$I 1hl IA
Am Superwr / pf &C.. 53h 5SA 53l+
Am Superwr pf ...... 9A SNl ~
Arcturus Rad ...... 5-16 5-l6 5-16
Ark Natl Gas pf.... 3hI 3h ga
Armstrong Cork ....l 22% 22b 22b
Art metal Works =. AS AS 4h
Assoc Gas & Elec... q Is Is
Assoc Gas Ace. Is Is Is
Au Coast Fish. ...... 10 "a ~
Atlas Corp war. 900. g, g, g
Atlas CoHp pf A..... 47h AN AN
Atlas Plywood ......l rs rs 7is
Babcock & wicox."... " 81 81 81 "
Blue Ridge CIV pf.... 3SA 38A 3Sh
Blumenthal S ....... 3 "a 3
Bower Roller Bearing 16K 16A 16h
Buff ME p pf..... 1t 16 Is
Bunker Hill ........ 27% 27%s 275s
Butler Bros ......... 7%I tai ~
Gable Radio Tube. -. l /
Can Ind Ale A.... Z 6% 6b
Cana Marconi ........ IL 1B Ia
Carib Synd ........ IN ~ IL
Carolina P&L 81 pf.. 49 40 40
Carrier Corp ........ 16A 16b 16K
Catalin Corp ........ 512 51a 5ls
Celanese of Am IS pfI 81 81 81
Celanese of Am 1st pf. 95 95 95
Celluloid LIST piece. 77S 775s TIN
Cent Hud G&E vtc...I Si2 S4 SA
Cent Sta Ell ......l y u u
Chi Rivet & Mach.... 145s 14as 14ss
Cities Serv ........I ~ IL IL
Cities Serv pf ...... 123s 123s 129s
Cities S P&L IS pf Is IS 13
Cities Pal Is pf.. 1877 1877 1879
Cleveland Ell Illum. 23Is 23ls 23ls
Cleve Tract ...... 5la 5la 5ls
Cohen and Rosen. -. 6L 81 6L
Colon Oil ..... q q y
Cmnwl & S war;. 3-16 Is 3-16
Compo Shoe ........I II IA II
Cons Aircraft ........ 9% 9% 9%
Crane Co ........,...l 10 10 10
Creole Petrol '..... 12h Il 121S
Croft Brew ........ 1bs 15s 15s
Cusi Mex ............ IA
Dstilers SeaSrams :. 141a 14A 14H
Dow Chem .......... sos 80 8Oa
Duval sulphur ...... Sb 8 8
Eagle Picher ........ 5h 5 5
East Gas & pf..... 60 60 so
Easy Wash Mch B.. 3 3 3
The Washington times., 1934-12-14
Local Stocks

SALES
Lanston Monotype, 2@47.
AFTER CALL
Potomac Electric 512 per cent
preferred, SOIL.
Washington Gas IS, 1876, 5000
109R.
Potomac Electric 6 per cent pre-
ferred, 10@10912; 100 1091a.
Lanston Monotype, 10@48; 100
48; 10@48; 10@48; 10@48; 400
48; 25@48; 10@48.
The Washington times., 1934-12-14

CANADA
Montreal funds in New York $11.S5
premium on 81 900.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-28
A THRIFTY CITY

MILWAUKEE is becoming famous for
Iva more than a certain brew of beer. She
has one of the best city governments in the
country.
Taxpayers there are trying to free their
city from debt. In the present year they are
meeting their entire 1888 tax bill of nearly
S20,O00,O00 and also clearing away S2500OOO
OF previous tax delinquency. And they have
left in the treasury an additional S5,50O,000
amortization fund According to City Con-
troIer Wendt if Milwaukee issues no new
bonds in five years it will be virtually free Of
debt and in better financial condition than
any other city in the country.
This is being accomplished by a delinquent
collection drive. One feature is the install
ment payment of taxes.
According to the National Municipal
League, twelve other cities have conducted tax
collection drives this year. In eight of these,
city officials were aided by citizens organiza-
tions.
Honorable and efficient cities that have
kept their books balanced, their debts cleared,
their credit sound. will prosper. Reckless
cities Will pay the price of failure in many
ways.
With cities, as with people, no substitute
has been found for old-fashioned thrift.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-28
WORLD WAR IN MINIATURE

THAT Iong-drawn out confused, and bloody
little war between Bolivia and Paraguay
seems to be furnishing an admirable labora-
tory specimen of the real thing. What hap
pens in great wars is depicted here, in minia-
ture. and the spectacle is an instructive one
A two-paragraph dispatch from La Paz, b.
hvia, Is an example.
This story began by remarking that Bolivia
has now enrolled its 18-year-old conscripts,
not due for service until 1885, Then it added
that the Bolivian army had won a smashing
victory, inflicting losses of $4,000 men on their
opponents and the story closed with remind
er of simultaneous claims of a sweeping VIC
tory by the Paraguayans.
Modern war is epitomized in that little
story. Heavy losses, conflicting claims of VIC
tory-and the grim summoning of 1S-year-olds
to the colors!
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-28
THE INDIANAPOLIS TIMES

they have been offered $1,000 apiece for their
holdings. They are paupers no longer.
Now this little story illustrates perfectly
the uncertainty that IS so essential part OF
the average mans quest for secure livelihood
under modern conditions.
These men were hard workers for years
Conditions quite beyond their control ship
wrecked them and tossed them into the hope
less obscurity of the poorhouse. After life
time Of toll. they had to take charity or starve.
Then-observe the sudden spinning Of for
tunes wheel! The luck that had made paupers
Of them made an about-face and put money
in their pockets again.
They contributed their own industry and
perseverance, of course, but if there had not
happened to be oil-bearing sands, just beneath
that poorhouse hill, they could have drilled
until doomsday without doing themselves any
good.
These men fully deserve their good fortune.
to be sure. But something is sadly out of joint
IN system by which two skilled and industri-
Gus workers can escape an old age of pauper-
ism only by 1OO-to-1 stroke of good luck.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-28
FATHER COUGHLN HEADED
FOR SUCCESS

BY S. E. NJ
1t is quite evident that H. c. A,
who is won't to accuse Father Cough
lin of fostering the growth of GER
tain repugnant "isns," has a very
limited knowledge Of his social plan,
the Catholic church and history.
Father Cougnlin is well aware Of
the fact that certain reforms are
necessary in our social order, or else
FaScism, Socialism, ETC., will make
deep inroads in the government.
Therefore. he has organized the Ma
tional Union for Social Justice, to
correct the present day abuses in a
sane and thorough manner. thus
making unnecessary the adoption Of
any radical ism" For this very
commendable act on his part to
stabilize our present government,
H. c. A. would chide him and
accuse him Of leading movements
he is fighting so vigorously.
The very doctrines of Fascism and
Socialism are incompatible with the
tenetS Of Father Coughlin. If We
ever have a dictatorship in this
country, it viii be in spite Of him
rather than because Of him.
It is a historical fact that religion
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-28
HOLD THAT LINE

DOLCE officers. working under directions Of
IL Chief Mike Morrissey and Captain Lewis
johnson Of the traffic department. made quite
a dent IN the overtime and double parking
privileges OF many of our citizens yesterday.
In fact, their activities we're distinct shock
70 those who believed they belonged to the
favorite few and who thought that all-day
parking on busy downtown streets was one Of
their special grants from the powers that be.
Now the big parade viii start. Politicians,
other police officers. city and county prosscut-
Ing officials and even newspaper men Will be
cornered and called on the phone to FIX" these
numerous stickers. Every one in the city who
is well acquainted with the hundreds of motor
istS-most Of them financially able 10 pay the
S2-and who may know some ones cousin on
the police department. Will be on the phone
and corner" list.
Our advice Is 10 let them call and corner"
For once let's see some Of these gentlemen
refuse TO go TO the front for the regular vio-
Iators Of the law. Unless they are stopped
now they never viii be halted. Sooner or later
the showdown is coming. so il can be handled
Just as well now as a month from now.
Chief NlorriSsey and Captain Johnson are
to be congratulated. Let it be hoped that their
patroimen viii turn deaf ears to the busy
buzzing Of the sticker holders and fxers.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-11-28
THE CURSE OF BIGNESS"

DIGNESS is not greatness, and law is not
- something that comes out Of books. IN
derstand these simple truths and you under
stand the economies and philosophy Of one Of
Americas wisest men. Justice Louis D. Bran
deis whose opinions, writing and speeches
have been compiled in valuable book, The
Curse Of BigneSs."
As an economist Justice Brandeis sees
America suffering from the bgness complex,
a sort OF social elephantiaSis. Confusing size
with efficiency. We have let our industries
grow to such bulk that they no longer function
we'll Competition must be restored if democ-
racy is to be saved.
AS a jurist Justice .Brandeis confesses him
self in agreement with a famous Dalnation
law-giver named Bogigish. When Montenegro
needed a modern law code it called upon Bog
igish. When Montenegro needed modern
law code it called upon Bogigish to write it.
Instead Of moving into a law library Bogigish
moved into Montenegro and lived among the
people for two years, learning their customs,
beliefs and needs. The Montenegrins respected
his code of laws because it represented their
collective wills 1t was what Justice Brandeis
has been writing on the supreme bench all
these years. the living law"
In his economics, Justice Brandeis is not
an old-fashioned 'trust-buster." He is mod
ern liberal, who believes that competition can
be restored and made to work if it is strictly
and honestly regulated. Monopolies are not
natural. Like the dinosauria of biological his
tory they are too big to be useful, in his
opinion.
IF We supplement the prohibition of mo-
nopoly by the regulation of competition" he
says, we shall be able not only to preserve
the competition we now enjoy. but gradually
regain the free soil upon which monopoly has
encroached, and we may be assured that, de-
spite all industrial changes the day for in
dustrial liberty has not yet passed"
Since private monopoly is not beneficial
to the community there can remain but two
questions First can we preserve competition
where it exists? Second can we restore COM
petition where it has been suppressed? To both
the answer is yes.
Diagnosis shows monopoly to be an arti-
fical, not a natural, product. Competition,
therefore, can be preserved by preventing that
course of conduct by which in the past
monopolies have been established"