davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
COAL JOBS, PAY
Up |NPENNSY

Number of workers on the rolls
of Pennsylvania anthracite COM
panies showed a gain of 9 per
cent and the amount of wages
paid increased "a per cent from
April to May. following sharp de-
clines in the previous month, &C.
cording to the Philadelphia Fed
eral Reserve Bank from original
reports received by the Anthracite
Institute from "a companies oper-
ating 1877 collieries which EN-
ployed about $500 workers,
whose average weekly earnings
amounted to $2,600,000. In the
past three years employment in
this period registered declines.
On the basis of current reports
and the figures of the Bureau of
Mines, it appears that the entire
Pennsylvania anthracite industry
about the middle of May en-
ployed about 126,300 workers or
nearly 48 per cent more than in
May last year. The total amount
Of wage payments was 113 per
cent larger than a year ago.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
j. s. LEADS 1888
AUTO OUTPUT .

An increase of 81 per cent in
the world production of all kinds
of autos and trucks was re-
ported for 1888 by the automotive
division of the Department of
Commerce. Output totaled 2,715,-
SIS units, against 1,976,963 units
in 1882.
A preponderance Of the output
was in the passenger car field,
where 2,187,710 units were pro-
duced. Production of trucks and
buses amounted to 527,865 units.
The United States leads in
auto output with 1,959,945 units,
against 1,370,678 in the previous
year. The United Kingdom was
second, with output amounting to
280,526 units, against 244, 434 in
1882. Other heavy producers
were France, Germany, Canada
and Russia.
Production in all countries cen.
tered around low-price vehicles.
The increase in motor manu-.
featuring exercised a far-reaching
favorable influence on general
economic conditions, according to
A. w. ChildS, chief of the auto
division.
He said the major reasons for
the improved position of the
auto industry last year was the
increase in purchasing power and
the existence of a high reserve
of replacement demand which de
veloped during the preceding de
preston years.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
Bank Stocks Off
In NelD York City

New York city bank stocks re-
acted during the past week. The
aggregate value of Is leading issues,
according to records compiled by
Holt, Rose and Troster, totaled ST.
542, $4,000 on June %, as COM
pared with $3.50, 100000 vt the
close of the previous week, a de-
crease of $48,352, 900, or 3.04 per
cent.
The current average yield of the
16 issues of SIG per cent compares
with a yield of 500 per cent at
the close of the previous week
The current market value is now
1923 times their known book value
against 1873 times on June Is.
Based upon current figures, the
Is issues are now quoted at an
average of 1913 times their known
earnings against 1877 times on
June IS.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
|NST|TUTEPUTS
STEEL RATE At
44.7 PCT.

Operations in the steel industry
for the week beginning June Is
are indicated at AIT per cent, &C.
cording to Geographic advices to
the American Iron g. Steel InSti-
tute.
This compares with $751; per
cent a week ago and represents
a decline of liza points or 20.3
per cent.
This is the largest reduction
that has occurred since the inSti-
tute started publishing the indi-
Gated rate weekly last october.
Lowest Since April
The drop also exceeds any week
ly figures which have been OBJ
tainable in the various compila-
tions of outside agencies.
With one exception the AT in
Dictated rate is the lowest pre-
dicted for any week since Feb. 10.
On April 2 the prediction was for
a 43.3 per cent rate.
Wall Street analysts yesterday
said that it indicated the average
output for July would be consid-
erably under the tonnage turned
out in any month since January
or February.
Orders Small
According to trade sources, the
extraordinarily sharp drop in op.
erations reflects the small amount
of business which has been placed
thus far for early July delivery.
These authorities sta tie that
shipments in the current week are
likely to be comparatively large,
completing the contracts placed
for second quarter delivery, but
that the steel to take care of these
requirements had been made here
tofore.
It had been expected in trade
circles that the tendency of steel
makers to replenish stocks de-
pleted by second quarter ship
ments would keep the rate of op-
erations up fairly well for a week
or two.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
WORLD COTTON
USE LOWER

World consumption of Ameri,
can cotton during May was l..
1854 bales, as compared with
100000 in April and 1,340,000
in May last year, according to the
New York Cotton Exchange Serv-
ice.
Domestic mills used more cot
ton in May than in April, says
the service, although the daily
rate of consumption declined sea-
sonally. There were more work
ing days in May than in April.
Abroad, consumption of American
cotton declined during May, con-
trary to the usual seasonal tend
ency to show a small increase.
Foreign spinners used 627, 900
bales of American cotton, as
against $4,000 in April and 1885,
600 in May last year. The Serv'
ice adds:
AT the end of May, for the
AASb GAAAAC Wills SC0SVAAS WOAAU CUAA"
sumption Of American cotton
for the season since August l
was less than for the CORE
spending period last season.
During the 10 months Of this
season from August to May 81
world Spinners used $4,000
bales less American cotton than
during the corresponding period
last season, but they used 1,O93,.
600 bales more than in the same
period two seasons ago, and
2.399,0OO more than three sea-
sons ago.
"WOrld stock of American cot
ton on May 81 was 12,734,OOO
bales as compared with A.
$4,000 at the end Of May last
year and 15,17O,OOO two year
ago."
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
j. s. DEFICIT
SEEN: NEAR
4 BILLION

The end of the fiscal year,
week away, viii find the Gov
ernment's' expenses exceeding its
income by nearly four billion
dollars.
Treasury officials made this
estimate on the basis Of latest
revenue and disbursement fig
ures, which they expect will not
be altered materially by the
developments Of the week.
The latest regular statement
of the Governments accounts
showed a deficit of $3,836,071.319
and the public debt standing at
see, 987, 1861 or $4,449, 294,7l7
more than when the fiscal year
began. ,.
Seven Billion Forecast
President Roosevelt in trans
hitting the annual budget mes
sage to Congress in January fore
cast q deficit of $7,309, $685.
and a total public debt OF
$29,s47, 100000 for the close OF
the fiscal year.
! Officials today expressed keen
qualification at jump of more
than q billion dollars in the
Governments receipts, accounted
for largely by a big increase in
miscellaneous internal revenue.
For the corresponding period
OF last year, total receipts were
$2,042, 480,78 Today's statement
showed collection of $3,063 $780,
OFT. For miscellaneous revenue
the figures were $685., 192,679 and
$1,442,210,757 and for income tax
receipts, $739,5S6,095 and 5000.
242-214.
Due largely to the operations OF
the economv act of year ago, the
routine expenditures of the Gov
eminent fell off from $3,742,457
978 to $3,031, 195,737. the latter
figure a little more than covered
by the years receipts to date.
Emergency Jump
In the field of emergency ex
penditures. however, there was q
Jump from $l,249, 692,983 for last
year to $3,S35,071,319.
The President forecast outlays
Of $3,969, TAO, 900 through the RFC
The actual total to date was 81.
528,611,698.
Public works expenditures were
forecast at $1,677, 10000, and to
date they were $1,OO7, 754,164. The
estimates were based upon money
allotted and the difference will
simply be added to next years bill
The same circumstance may prove
true of the RFC estimates.
Expenditures through the Civil
Works Administration also were
actually much less than the Presi
dent thought would be necessary
An appropriation of 100000, 000
was made in February. It was
found possible, however, to dis
continue it at the end OF March
at a total cost of $313,99O,379.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
PH|LADELPH|A'S
TRADE BETTER

Retail sales in the Philadelphia
Federal Reserve district increased
Z per cent in May from the April
figures, according to the season
ally adjusted average Of the Phil
adelphia Federal Reserve Bank.
Sales for the month, according to
actual index numbers were 18 per
cent above sales for the month
last year.
Seasonally adjusted index of
of sales of department stores in
Philadelphia alone showed an i'll
crease of 7 per cent, Philadelphia
mems apparel stores increased 7
per cent and women'S apparel
stores increased 4 per cent. Ad.
justed index If retail stocks in.
creased 3 per cent from April to
May.
Wholesale trade in the third
Federal Reserve district increased
II per cent in May from April, on
a Seasonally adjusted basis. On
the basis of actual index numbers,
May wholesale trade was "a per
cent above like month of 1893.
Stocks at wholesale establish
mentS, after seasonal adjustment,
decreased / percent from the pre-.
v1ouS month, but were Is per cent
above stocks a year ago.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
PRODUCE
LESS MILK

Total milk production on June
/ was S per cent less than on that
date a year ago, with per COW pro-
duction the smallest on record in
10 years, the Bureau of Agricul'
ture Economics reports.
The bureau attributes the de-
cline in production to drought
damage to pastures and the short
supplies of hay and feed grains.
Total production of manufac.
tured dairy products in April on
a milk equivalent basis is reported
at 3 per cent less than a year ago,
and with the serious drought and
short feed supplies, the outlook is
for light production for some
time" the bureau states.
Cold storage stocks of butter on
June /, reported at 27,100,000
pounds, were the smallest for that
date since 1923. Stocks of Ameri
can cheese are reported at $780,,
900 pounds on June /, the largest
on record for that date.
Concerning prospects for dairy
feed, the bureau states that "the
most serious and widespread
drought in 40 years has resulted
in exceptionally poor pastures ano
prospects for a short crop Of hay
and small grains and short sup
plies of hay for the 1934-35 feed
ing season."
The bureau states that in con
trast with the United States where
production of butter has beer
checked, Great Britain is still re
ceiving supplies of unprecedented
volume.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
Big Wheat Crop
For Maryland

Maryland's wheat crop for
this year is forecast at about
100000 bushels, which is near
ly 100000 bushels over last
years production, but approx
mately 100000 bushels under
the 1927.1931 average, accord
ing to Richard G. Ross, agri-
cultural Statistician for the
Maryland Crop Reporting Ser
vice. Mr.. Ross stressed, how
ever, that the outcome of the
crop will depend upon weather
conditions between now and
harvest time.
The peach crop is reported
to be- almost q failure this
year. Indications point to q
crop of about $4,000 bushels,
which Is 100000 bushels under
last years production.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
Low REFUND|NG
USE IS SEEN

Taking into consideration the
present low interest rates and
the probable increase in new
financing as result of the recent
notifications of the securities act
of 1898, many bond issues placed
in past years at high rates Of
interest may be refunded in the
near future by a lower coupon
bond, Jackson & Curtis point out
in a review of callable bonds now
quoted at premiums.
Attention is called to the pro.
posed financing for the Edison
Electric Illuminating Company OF
Boston, which is expected to be
undertaken at the lowest rate
at which any public utility has
ever issued either long-term OF
shortterm bonds to the public.
"ConsiderinE the caliber Of
many Of the callable bonds now
outstanding, coupled with cur.
rent trend toward lower cOu-
pOnS, the present would appear
an oppOrtune time for many of
these companies to cut down
their fixed charges by refund
ing S per cent or higher issues
with q rate Of about 4 per cent.
There are, Of course, instances
where refunding would not be
profitable due to present com.
paratively low coupon and in
some cases uncertain earnings
record.
Assuming that many Of these
bonds are called on the next
interest date beyond July l,
a decline in price to short
term interest basis for high
grade issues would be witnessed.
Thus, based on current market
value and probable price level
prevailing as a ShOrt-term bond,
a loss in present capital after
crediting interest may ensue
in redemption of many Of these
securities"
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
CANADA WHEAT
EXPORTS RISE

Export clearances of Canadian
wheat during week ended June IS
totaled 3.858,973 bushels, more
than 100000 bushels above the
preceding week and more than
100000 higher than the like 1888
week.
For 46' weeks of current crop
year ended June Is exports
totaled 1877, 1896, 1870 bushels, against
200. 028, 456 a year ago.
Visible supply of Canadian
wheat for week ended June Is
totaled 1877, 338,037 bushels, against
revised figure of 2O0,09O,674
bushels for preceding week and
1872, 1923, 1870 bushels for correspond
ing week last week.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
GRAINS TURN UP
AFTER EASING

CHICAGO, June rs G.N.S).
Grains staged sharp reversal Of
trend shortly after the opening to-
day, with moderate early losses be-
ing converted into gains of more
than a cent.
Corn led the upturn on buying
by professionals. September adj
vancing IA cents to 593s cents.
Wheat moved up to 90 cents for
the September delivery, against an
early low of 9012 cents.
Near midsesSion values were
near the top, wheat being "a to 20
of a cent up, corn 11s to Ia cents
up, oats "a to l cent up, and rye
"a to u of a cent up.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
Holders to Divide
Lunch WAGON Net
BY International News Service

BY International News Service
Even the earnings from a lunch
wagon will be divided by holders
of the Kansas City, Fort Scott and
Memphis bonds and the towners
of the st. Louis-San Francisco
prior liens in the segregation plan
being worked out by the commit
tee in charge. it is disclosed.
The committee which has been
seeking to allocate the revenues
for the two mortgages have just
about agreed on a plan, and only
the question of interest payments
on equipment trusts remains to be
settled. The prior lien holders
contend that higher percentage
should be charged against the
= ~4L Scott bond owners.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
y'': :7:;, %;;S;''' N. Y. Bond Quotations

NEW YORK, June 26 Q.N.S0
A mixed price movement again
was in evidence in the bond trad.
ing today.
Second grade and more specu.
lative rail liens were again highly
irregular with the st. Paul IS of
1875, and Chicago and Northwest.
ern Ans moving lower.
Prime investment rails also
showed some Slight amount of ir
regularity. Union Pacific As were
off while the Pennsylvania IS Of
1868 were up.
western Union obligations were
again offered in moderate amounts
and the 6l2S of 1895 showed Q
fractional decline.
German issues were stronger
with both the 51aS and the Is
showing fractional gains.
United States GOV ernmentS
were stronger at the start with
Liberty Fourth 414s and Treasury
31sS up slightly, while the home
owners loans IS declined moder
ately.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
Insurance Stocks
Decline Slightly

Insurance stocks in the New York
city market declined slightly during
the past week. The aggregate
value of 20 leading fire and caSu-
atty insurance issues, according to
records compiled by Holt. Rose
and Troster, amounted to $4S2.'
$4,000 on June %, compared
with $436, $4,000 at the close OF
the previous week, a decrease OF
So, 294, 900, or 0.76 per cent.
The current average yield OF
the 20 issues of 4.08 per cent
compares with a yield Of 4.05 per
cent a week ago. The current
market value is now 1.18 times
the current liquidating value,
against lie times on June Is.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
v ;s:s,s y: ;s::' N. Y. Curb Quotations

NEW YORK, June rs QN.S0.
Individual issues continued to
dominate the curb exchange to-
day as the main body of stocks
gave another sluggish perform
ance in extremely light trading.
While utilities generally were
little better than steady, Amer
lean Gas and Electric rose nearly
a point to 267s under persistent
demand. Long Island Lighting
common hit a new on the battle
over the company's new bond
issue.
Lake Shore likewise ignored the
irregular trend in the mining
list and moved up a half.point
to 53A. Pioneer Gold was slightly
better, while Hudson Bay was
fractionally lower.
The oils started off heavy, re-
flecting the uncertainty over the
industry's price structure, but
Steadied later.
Liquor stocks continued in the
doldrums as a result of lack Of
speculative interest. Packing
shares held their recent uptrend,
with Swift g. Co. moving higher.
The aviation list was dull.
Little of consequence developed
in the bond section, where prices
ruled around the previous close
in small turnover.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
Officers Elected
BIZ CPA Institute

At the annual meeting of the
District of Columbia Institute of
Certified Public Accountants the
following officers were elected:
President, Goodwin P. Graham;
vice president, Harold c. Ander-
son: Secretary-treasurer, Harold
S. Roberts.
Harold c. Anderson and John
Berg were elected to the board OF
governors which now consists OF
the following:
Goodwin P. Graham, Wayne
Kendrick. John B. Mckinley
Frederick M. Blum, Harold S
Roberts, Harold C. Anderson
John Berg. 81
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
Decline FOreSeen
For Phones in N. Y.
BY International News Service

BY International News Service
The New York Telephone Com
pany will show a net loss in tele-
phone connections for June, 1t Is
indicated. A seasonal drop for
the month. however, is the usual
development.
For the first three weeks of
this month the New York unit
of the Bell system had a de.
crease Of 3,773 in the number Of
its telephones in active service.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
CLOTH MARKET

NEW YORK. June rs (I.N.S).-A dull
tone prevailed in the coarse yarn cloths
market today as buyers showed little
interest in goods and prices very gem
orally were unchanged.
Industrial users came in for fair
amounts of heavy goods during the day,
but otherwise there was no appreciate
trading.
The pressure of quick deliveries was
considerably smaller than at the begin
ming of last week. since A good proper
ton of last weeks business had in
volved early shipments. Hence. what
ever danger may have existed that con-
cessions might be offered on early de-
liveries during quiet trading over the
next few weeks was felt to have been
removed.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
Hecht!s to Get
EscOlatOr

Weary WaShingtonians will
find q novel delight in shopping
with the installation of an esca-
lator by the Hecht Co.
Plans are reported ready to
start construction in the near
future on the Capitals only NOV.
ing stairway. The structure will
extend from the first to the
third floor and will cost $3.50, 900.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
AtchisOn's Freight
Takes Sharp Squirt
By International News Service

Rejecting the early winter
wheat harvest in the Southwest,
Atchison. Topeka and Santa Fe
Railroad reports sharp increase
in it's traffic last week.
Loadings were 28,985 cars
against 1885 the week before
and 24,348 in the same 1888 week.
With 5000 cars of grain to swell
the total, the weeks traffic was
one of the best in the last two
wears.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
QUARTERLY DIVIDEND

Southern California Edison
Company, Ltd. has declared a
quarterly dividend of 371a cents
on common, compared with the
so cents quarterly paid pre-
viouSly. Dividend is payable Au-
gust IS to stock Of record July 20.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26
Thompson Products
Resumes PAYMENTS
BY International News Service

Thompson Products, Inc. has
declared a dividend of ST a share
on the 7 per cent preferred stock,
the first since the regular quar-.
terly dividend of SITS on March
/, 1892. It is payable July / to
stock of record June Is.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1934-06-26

High Low 200
Phil Bat&w Ans C nOSA
Phila CO IS 81 .......! SSls S1nl s7A
Phila Ell Co 41ss 81 ...Ilo7 q 107h l107h
Phillips Pet SIS SO ..1Ol 1OOA 100 X
PCC&StL SIS B IS ..... 1904 l1O9 100
Port Gen Ell AVS so :. 45hI As 4514
P Ric Am Tob IS AZ :. 40$e 40S lOse
Postal Tel&C SIS So .... 81 sou 81
Pressed st Car SIS SO -. 51hl 51h SIN
Purity Bak's SIS 4S .... 81 s0I1l 81
Pure Oil 5hs 81 ..... I100k 1904 I1001G
Pure oil as 40 $500. ass sSAs sS9s
Rg Co gn&rf A AIS 81 Joss 1908 l1O3ss
Read Co Jer Ct col As 5lT s6h 96Kl s6K
Rep I&s SIS A SO .... So SShl SO
St Jos&Gd Is LIST As a.. I1O1A IIOI4Ii01I,
st Jos Lead 512s Al Zip l112 i112
St LIS FIR Ry p1 a As So 1s% 1S%I 18%
st L San AIS rs .... II II II
St L San Ans ct stp =: 16h 1871 1SH
SIP Nina Man IS 4S10S HOS los
st PU Dep RI 5s 72I11Oss HOS HOS
San & Ar Pass As '4S SAN s3N 8SN
SID L IS A AS. 10 10 10
Sid All Fla SIS A ct '35i
SharSHP LIST SIS rs AS SIX S7hl sly
Shell u o 5s ct WV 40 99L 9SKI 99E
Shell Pipe l. SIS so. I1o112 l1o1 u i1O1 i
Sine c o LIST sAs B 'SSi104% HOAX HOAX
So P c Ore L a AVS ~ s1f sis SiH
So San F list IS sol s7%j 97hs s7%
So Pac RR RI As So sS%I ssh sS%
So Ry gen As IS S5% S5K 65N
So Ry SIS IS. 49,. 90 90 81
So R ygen SIS Sc. ssH s6h s6&
So Ry IS '94......,. F1o4s i1o4 I1o4k
SIN B T 1st&rf A IS '541e9% I1O9K 1904
stand Oil NJ SIS '46106 Hos i5I105%
Stand Oil NY AIS '51i1OSMIlO31kIl O3K
Studebaker SIS g.. 43%I 43% 4S%
Tenn Cent Ry 6s..I So So SO
Ter RR st L gn rf 4sI 996s s9hi 99h
Texas Corp SIS "A. 80. .41O3h 1902 x 1888
Tex & FIT SIN list SIS 93% 93$ 9S%
Tex & Pac list SIS. 1924 100 Y l109k
Tex Pac SIS Co... Sc s2hl S2h
TIL Av Ry 1st ref As SO SO So
TIL Av Ry adj inc IS. 26hI 26H 26h
Tob Prd 6hs. los 1O5hl1 lies
Tol.OCW DIV LIST S.. 102$ l1O2 q ]102S
Thumb stl 6s.......... S5kl s5Al 95N
UUEl&PstL IS gn '57106 HOS HOS
I'm Oil Cal IS WV. 1903 hJ103 n 1881
Union Pac LIST As. los los \ l105%
I'm Pac list & ref As. 10l Y l101 Y I1O1%
Union Pac ANS 81. -. 102h 1902 \ l1O2h
United Drugs 5s...... SSh s3h( saw
Unit Rys StL LIST As. 20 20 20
Us Rub IS '47........ IS Sc SIS
Utica G & e IS. 112% I112 Y l112%
Ut Pr & It 5ks..... S11a BILL 31h
Vanadium Corp IS Al. 81 81 81
Vera Or & P assent. :. As 4A 4ss
Va Ry list IS A....... I1Oeh los hl1osh
Wabash RR LIST IS '3s. SO 90 80
Walworth IS A........I 46 As 46