davidaulloa/AmericanStories huggingface dataset:
The midland journal. (Rising Sun, Md.) 1885-1947, 1934-11-30

In a perfect world, luck would
never take the place e hard work.
The midland journal. (Rising Sun, Md.) 1885-1947, 1934-11-30

Keep good men company. and you
shah Be Of sAs pgmhsz,
The midland journal. (Rising Sun, Md.) 1885-1947, 1934-11-30

Trespass notices for sale at The
Midland Journal once. 8 ssass each.
The midland journal. (Rising Sun, Md.) 1885-1947, 1934-11-30

RALPH GREENLEAF
Worlds Champion
During 1919. 20, ri. y. '2s.
"a, '25, '2s, '27, '2s, '2s. 80,
81, 'S2, 's3.
as CENTS
The Washington times., 1934-03-22
IN STORED
MOTORFUELS

Gasoline stocks decreased 1885,.
900 barrels during the week ended
March II to 57,70S,00O barrels, the
American Petroleum Institute es-
Inmates. This is the first decrease
since the week ended December 30
when total stocks declined $4,000
barrels.
Inasmuch as the decrease was
due to a decline in bulk terminal
stocks, decrease probably reflected
jobber buying in anticipation Of
increased consumption.
Stocks Of gasoline at refineries
representing 92.4 per cent of the
country's refining capacity were
up $4,000 barrels to 33,767 900
barrels. Bulk terminal and in
transit stocks were down 604,0 900
barrels to 20,361 900 barrels while
other stocks of motor fuel were
up 10000 barrels to 3,580,000
barrels.
During the week reporting re-
fineries were operated at 67.6 per
cent of capacity running to stills
2.25S,0 1000 barrels of crude oil daily
as compared with operations at
64.5 per cent of capacity in the
previous when crude oil runs to
still averaged 2,157,O00 barrels
daily.
The Washington times., 1934-03-22
COTTON PRICES
OFF SHARPLY

NEW YORK, March % G.N.S).
With the December option break
ing to the lowest level since Feb
ruary 3 last, cotton futures con-
tinued under pressure today.
Trading was fairly active from
the opening gong as professionals
sold early on the lower Liverpool
cables, which were 7 to IL points
below due prices. This was only
partially absorbed by moderate
accumulation of price-fixing or
ders for domestic trade sources.
Pressure was again centered on
the distant months, a procedure
that has been more or less the
rule since the start of the cur
rent week.
Spot interests had reports from
Texas stating that business was
almost at a standstill.
The weekly weather report,
which cited cotton planting in the
west Gulf area and in southern
Georgia. came in for good deal
of comment.
Around the noon hour futures
were off 6 to 8 points, with May
off 6 at 1186. July off 6 at 1877,
October off 8 at 1907, and De-
cember off 8 at 1915.
The Washington times., 1934-03-22
SHOW
Bic INCREASE
BY International News Service

BY International News Service
Norfolk and Western railway
own-line loadings last week were
81 per cent over the like 1888
week against 58.6 per cent the
week before. Own-line loadings
for the week totaled 1869 cars
against 1887 in the previous
week and 1921 in the like 1888
week.
Total loadings for the week
amounted to 23,754 cars against
21,860 in the previous week and
1853 in the like 1888 week.
Pennsylvania railroad, on its
own line, loaded 1871 per cent
more cars than in the like 1888
week against 1926 per cent in the
preceding week. Own-line load
ings for the week totaled 39,014
cars against 58,219 in the pre-
vious week and 42,736 in the
like 1888 week. Total loadings
for the period amounted to 96,-
565 cars against 94,563 in the
previous week and 67,511 in the
like 1888 week.
The Washington times., 1934-03-22
v.!;H: ST, i,,!;sss ss,s;tv N. Y. Bond Quotations

NEW YORK, March % Q.N.S).
The bond market continued to
sag in quiet dealings today, with
ali sections of the list, except for
a handful of investment grade is
sues, declining to new lows on the
move.
Fractional declines in the rail
group we're taken by Kansas City
Southern SIS, Erie SIS Of '67, and
st. Paul adjustment SIS.
United Drug SIS and Postal Tele-
graph SIS sold off close to a point
each in the domestic corporation
group.
Treasury As led the drop in U. s..
Governments. Treasury 4As,
Treasury 3As, Treasury 4As Of
as, Treasury 324s, and Liberty
4th 4As followed with lesser de-
clineS.
German Governments were un-
der renewed pressure in the for
eign section.
Atchison general As and the Vir-
ginia Railway and Power IS were
fractionally higher in the invest
ment division.
The Washington times., 1934-03-22
Business News
Spotlight

Electric power production In
the week ended March II aggre-
gated 1,65O,O13,OOO kilOwatt
hours against 1,375,2O7, 900 in
the corresponding week Of 1888,
an increase of 20 per cent. The
Philadelphia Company has de-
clared a quarterly dividend Of 20
cents a share on the common
stock, payable April rs to hold
erS of record April 2. The pre-
ceding quarter dividend was 17A
cents. Continental Oil Of Della
ware declared a dividend Of rs
cents, payable April 20 to hold
ers Of April 2. This is the first
payment by this company which
succeeded Marland Oil in 1929;
the latter hadn't paid since 1927.
The Washington times., 1934-03-22
V;s7; ;:'SSS s;s's':;::' ss:;' N. Y. Curb Quotations

NEW YORK, March % QN.S0 q.
Reactionary tendencies continued
largely predominant in more &C
tive curb market dealings today,
with concentrated pressure on cer-
tain issues, contrasting with
strength in a few metal stocks.
Attention was attracted to Cana
dian Marconi, which was dumped
overheard in heavy volume, with
individual blocks running up to
5000 shares. At its low Of 29s, 1t
was down " point from its pre-
vious close.
The volatile Natomas ran up
sharply in the metal group, chalk
ing up a 3.point gain at 80.
Oils were mixed. Alcohols and
investment trusts marked time at
generally unchanged levels.
Utility shares were spotty. Amer
ican Gas and Electric sold off
almost a point to 24b, before
Steadying.
Cities Service common held
steady at 8, as against a further
fractional decline in the deben-
lures to 1875.
Curb bonds were irregular, with
a 1-point gain in National Power
and Light IS to 73, offset by a
decline of a point in American
Power and Light IS to So.
The Washington times., 1934-03-22
Store Sales ShOW
Gain in NeU York

Department. store sales in the
metropolitan area of New York,
including northern Jersey, for the
period March / to March Is Q3
shopping days. increased 36.4 per
cent over the corresponding period
a year ago. Excluding liquor sales,
figures showed an increase OF 81 9
per cent. according to the Federal
Reserve Bank of New York.
New York and Brooklyn depart
ment store sales increased 81 per
cent for this period and 1923 per
cent, excluding liquor sales. Sales
in northern New Jersey increased
1913 per cent and excluding liquor
sales 32.7 per cent.
The Washington times., 1934-03-22
RAIL PRICE CUT
MAINTAINED
By International News serrice

BY international News service
The steel industry has given
the railroads another extension
on orders for rails and acces-
sories under the price cut agree"
ment with the Administration
made last fall.
Delivery date was extended
to August 81 from July l, the
American Iron and Steel In
stitute announced, the only stip-
ulation being that orders are
placed prior to April IS.
A similar delivery extension
was given the Government on
structural projects in which it
is interested through the Public
Works Administration and the
Reconstruction Finance Corpo-
ration.
This will protect Federal pro-
jects from any price rise that
may develop as a result of the
drive for another wage increase
in the industry and a shorter
week.
The Washington times., 1934-03-22
COAL PAY,
JOBSDECL|NE
High Low Id:0

The number Of workers on the
rolls of the Pennsylvania anthra-
cite industry decreased about !
per cent and the weekly amount
of wages paid showed decline OF
nearly 6 per cent in February, ac'
cording to to indexes prepared by
the Philadelphia Federal Reserve
Bank.
These were compiled from re-
ports received by the Anthracite
Institute from "a representative
companies which operated 139
collieries in February and en-
ployed some 87,700 workers whose
weekly earnings amounted to over
$2,666,0O These companies EN-.
ploy approximately 60 per cent OF
all workers engaged in the Penn
sylvania anthracite field.
Operating time, as measured BY
the number of man-hours actually
worked at the collierieS Of 80 COM
panies, declined S per cent, follow"
ing an exceptionally large gain IN
January.
The Washington times., 1934-03-22
BIC TERM LOAN
FOR \. !. STATE
BY international News Service

ny 1ntoHnaClOnSA NoWS SeENAo0
New York State is planning
shortly to sell long-term bonds for
the first time since last october.
The financing, it is understood.
will total about $4o,oo,OOO, and
bids will be invited early next
month.
The issue is expected to include
approximately $25,0O0,0O0 for re-
lief purposes, maturing in from
one to 10 years, and $15,OO0,OOO
for improvements and grade cross
ing elimination, due serially in
from one to Is years.
AS yet. Comptroller Morris S.
Tremaine has made no official
statement regarding such n issue
but, in the past, he has usually
taken advantage of favorable bond
market conditions to market long
term State issues.
The Washington times., 1934-03-22
PRICES
FLUCTUATE

Textile prices continued to fluc'
tuate aimlessly. The Fairch1ld
Composite Fiber Index for the last
week showed a fractional decline.
as compared with the previous
week, due to lower raw silk prices.
The index, however, continues
near the peak.
There was very little change in
cotton and cotton products dur
ing the week. The average prices
of New York middling spot cotton
advanced fractionally.
Cotton yarn prices, however.
gained on an average of u cent
per pound. The Fairchild Com
posite Goods Index reacted slightly
because of lower gray and finished
goods.
Both New Bedford and Southern
mill share averages practically re-
covered the losses of the previous
week.
The Washington times., 1934-03-22
Haney Says President
Shouldn't Intervene

work under CWA and PWA, and
indicated that Government re-
lief may be given to strikers.
Thus, for political reasons, it
has tended to identify Govern
ment with labor, and for prac-
tical purposes that means the
small fraction Of total labor
which is organized" under the
A. F. L.
1t is to be hoped that in this
emergency the Government will
be forced to retire from it's part
nerShip in business, and assume
the wiser position of dealing
with business problems and class
conflicts as the representative
of the nation as a whole,
Perhaps it is too much to ex-
pect that consumers and "the
white collar class" will be needed,
but there is the farmer. His in
terestS are not those of organized
labor, and his political power may,
as often in the past, compel a
more diSinterested attitude toward
organized labor.
The present labor crisis is a
warning to the New Dealers. 1t
will bring home to them the
responsibilities of dictatorship
over, industrial regiments.
I continue of the opinion that
"the public" most of which is not
"organized," will not take lightly
a disruption of economic life for
the purpose of supporting the
present aspirations of the leaders
of the A. F. of L.
In the last analysis, there are
too many laborerS now out of
work to enable a small body of
organized labor to establish a
monopoly. The only hope of the
A. F.. of L. lies in getting Govern
ment backing. But it can hardly
be said that we yet have a labor
government.
So, while confidence" will be
lacking for some time, and invest
ments can hardly be expected to
rise while the present labor issue
overhangs, I am hopeful that the
realities of the economic situation
will soon become so clear that the
President will recognize that
economic laws are an important
element in social justice.
share with all economists the
opinion that organization among
laborers for collective bargaining
is highly desirable, and I am
strongly opposed to monopoly
among employers. But is it desir
able that either interest should be
tied in with the Government
Should automobile workers not
organize independently for bar
gaining with automobile EN-
ployers.
The Washington times., 1934-03-22
325 Million Lent
To Home OlUnerS

The Home Owners Loan Cor
poration to March 9 has made
114,678 loans totaling $325,151,720
through exchange of bonds for
mortgages, according to the or
ganization's report for the first
six months of its operations.
The corporation has approved
for further consideration sac, 900
additional requests for home re-
financing. The average of loans
is $2,833, representing 69.3 per
cent of the appraised value of the
properties involved.
The Washington times., 1934-03-22
GIVE 8
So. RY. CHEER

Maintenance Of traffic around
current high levels over the. bal
ance OF the month will enable
the Southern Railway to show its
fixed charges fully earned for the
first quarter of this year, it is
estimated in quarters close to the
company.
Such a favorable achievement
would contrast with a deficit after
charges of nearly $2,000,000 for
the first three months Of last
year, reflecting material improve
ment over 1933-in itself a year
Of substantial progress.
With the South responding
quickly to the moves instituted
in 1888 to quicken business activ-
ity, the Southern Railway was
the first major system last year
to lift it's gross revenues above
those of 1882.
Similarly the recurrent uptrend
in industrial operations in the
areas served by the company has
again favorably influenced the
company's traffic and earnings.
Improvement in textile COM
pany operations has been partic-
ularly pronounced following the
tapering off in the latter months
of 1888.
Southern Railway fell only
$4,000 short of covering its
charges for 1888, compared with
a deficit Of about $11, 100000 for
the previous year. Starting the
current year with a substantial
improvement over 1888, indica-
tions point to a surplus applicable
to the preferred stock as the re-
suit of this years operations.
The Washington times., 1934-03-22
RdybeStOs Assets
And Surplus Mount

The report of RaybestoS-Man-
haitian, Inc, and subsidiaries as of
December 81, shows assets Of $15.-
902, ,844 compared with SIS. 5.277, 1894
at end Of 1882, and surplus of
$5,571,844 against $5,243,564.
Current assets totaled $7,384, ,878
and current liabilities were $685.
200, comparing with $6,277, ,671
and $312,630, respectively. at close
Of preceding year. Cash, U. S.
bonds and marketable securities
totaled to $2.641, ,439 against
$3,325, ,067.
The Washington times., 1934-03-22
RGiLlUGy Express
Air Traffic Scars

The air express division of the
Railway Express Agency reports
that the number of shipments
over lines which it represents in
creased 100 per cent in February
over the corresponding month a
year ago. A large part of the
increase was accounted for by
coast-to-coast shipments.
A part of the upturn is pre-
Sumably due to increased ship
ments of commercial paper,
occasioned by disruption of the
air mail service.
The Washington times., 1934-03-22
N. Y. Stock Transfer
Tax Chdnqe Is Asked

The Merchants Association Of
New York has appealed to Gov
ernor Lehman to recommend leg
islation amending the stock trans
fer tax. Its request, the associa-
ton announced, was based on
information that sales of low par
value shares have been almost
completely transferred out of the
State because of the excessive tax
burden of the present law"
Modification of the existing tax.
the statement added. would re-
turn much of this business to New
York. Prompt action was neces-
sary it added, because the longer
such business is kept out of the
State the harder it will be to in
duce it to return"
The Washington times., 1934-03-22
ShGIUinigGn POWer
Cuts in Second Unit

The Shawinigan Water and
Power Company has put into
operation the second Of four units
of 10000 horsepower being in
stalled at its Rapide Blanc de-
velopment in upper Quebec. This
is the second unit to be thrown
on the circuit within a month,
showing the construction pro-
gram is well ahead Of schedule.
Completion Of these two units
increases the capacity Of the
company to S09, 200 horsepower.
The Washington times., 1934-03-22
SELLING SENDS
GRAINS DOWN

CHICAGO, March % GN.S).
Grains worked lower today on sell
ing inspired by bearish weather
reports and uncertainty over the
industrial situation.
Wheat dipped 7sc to $3.50 for
the May delivery and corn and
oats eased small fractions to 507sc
and 335sc.
Trade remained light, with sup
port limited.
Near mid,session wheat was asc
to 12c off, corn 1sc to 14c off, oats
1sc off, and rye 14c off.
The Washington times., 1934-03-22
Gulf Oil 1888 Loss
Totals SII,386,287

Net loss of the Gulf Oil Cor
poration and subsidiaries for
1888 amounted to $11,386,287
after deductions for taxes, deple-
tion, depreciation, retirements,
interest charges and non-recur-
ring losses.
Net profit for 1882 amounted
to $2,743, ,492, which was equiva-
lent to 60 cents q share on the
4,53S,10 shares Of common stock
Of $25 par value.
The Washington times., 1934-03-22
$75O,OOO Policies
Sold Here in Drive

With nearly $75O,000 new life
insurance written in Washington
in the first two days Of financial
independence week, life underwrit-
ers here expressed great satisfac-
ton with the response to their
efforts in bringing the subject Of
life insurance protection to the
people of the District of Columbia.
Some local underwriters even
expressed surprise at the results
obtained during the first two days,
the record being considered ex-
ceptional in view Of present con-
ditions.
The Washington times., 1934-03-22

among themselves over wages and
working conditions, and the Gov
ernment intervenes only to enforce
law and order, the thing is bad
enough. But we then judge the
outcome on the basis of the rela-
tive strength of the parties, and
count on economic forces.
But when the Government has
taken the issue in as a part OF
it's functions, the nation becomes
involved in a different way. When
the Government encourages the
idea that social justice ignores
economic laws, and that a more
abundant life can be won by
mere political action and forms
of organization, rather than by
increased production and earn
ings, economic realities are for
gotten. Not only are exaggerated
claims made, but the Govern
ment itself becomes the battle
field for class conflict.
The Administration, 1t Is
hoped, may now try to assume
the role of independent arbi-
traitor or mediator, but the
fact remains that the New
Deal is largely responsible for
the present situation. 1t has
sought to regiment economic
classes, and made their con-
flicting economic interests its
business. 1t has sought the
position of a partner in busi-
ness, and so it has the part
ner's responsibilities.
Furthermore, it has adopted
the notion that purchasing
power" can be created" by
merely increasing hourly wages.
And it has given scant recogni.
ton to the necessity of reward.
ing enterprise and capital. 1t
has put itself in the position of
paying "wages" for unproductive
The Washington times., 1934-03-22
LacIede Steel Loss
More Than HaLUed

Report of Laclede Steel Com
pany and subsidiaries for year
ended December 81 shows net loss
of $40,483, after depreciation,
taxes, etc, comparing with net
loss Of $110,207 in 1882.
Current assets as of December
81, 1888, amounted to $1,878,558,
and current liabilities were $176,-
278.
The Washington times., 1934-03-22
Chesapeake e Ohio
Sets Traffic Mark
BY International News Service

BY InteFnatlOhaI News Serv1C8
Continuing the steady uptrend
since the first of the year, Chesa-
peake and Ohio, the first road
to report, announced anew high
in it's traffic last week, loadings
totaled 31,018 cars compared with
80, 1874 the week before and 21,079
q year ago.
AtchiSon loadings on it's own
lines last week increased to 1875
peer cent above 1888 from 1877
per cent in previous week. Total
loadingS were 23,099 cars, against
21,660 in previous week and
1896 a year ago.
The Washington times., 1934-03-22
aluminium Business
Setting NeIU Record

Aluminium Industries, Inc, re-
ports net profit of $1OO,207 for
the fiscal year ended December
81. This compares with $70,829
loss in 1882.
John Eckerle, president, re-
veals that business for January
and February established a peak
in the company's history for
those months. Volume for March,
he adds, is showing a steady up
ward trend with indications that
the current month will round out
q record first quarter.
The Washington times., 1934-03-22

a general lack
of confidence.
Th e thought
of strikes and
class con flict
is dis turbing
at b e S t, and
now that they
are all mixed
UP with our
Vern m ent
policies tn e y
are the more
alarming.
w h en- e m
DloyeS are bar
gain i n G an d
g ctpnrn Z lin q
The Washington times., 1934-03-22
Profit Gain ShOWn
BH CheSaDeQke Corp,
BY International News Service

BY International News Service
Chesapeake Corporation reports
for 1888 a profit of $6,647 ,407,
exclusive of $93,796 loss on sale
of securities charged directly
against surplus account.
This compares with profit of
$6,129,778 in 1882, excluding a
loss of $294,O51 on sale of Sc
curities.
The Washington times., 1934-03-22
American Bank Note
Orders Up Sharply
BY International News Service

BY InteFnatIOnaI news oeFVIC0
. Domestic orders of the Amer4"
can Bank Note Company in the
first 1G weeks of 1884 were so per
cent ahead of the 1888 period,
while total business, including for.
eign subsidiaries, showed a 80 per
cent increase, according to Daniel
E. woodruff, president.
Mr.. Woodruff indicated com.
mon dividend resumption was not
being considered at this time, as
the company desires to maintain
it's cash position.
The Washington times., 1934-03-22
OTIS REGULAR

Otis Elevator Company has de-
clared a dividend of IS cents on
the common stock and the regu-
lar quarterly dividend of $3.50 on
the preferred, both payable April
16 to stock of record March 30.
Similar payments were made on
the common in preceding quar-
terS
The Washington times., 1934-03-22
" CANADA DRY PAYS

Canada Dry Ginger Ale, Inc,
declared the regular quarterly
dividend Of 25 cents, payable April
rs to stock Of record April 2.
The Washington times., 1934-03-22
BY LEWIS HANEY
professor Of Economics, New
York University

OF course developments in the
labor situation overshadow all
other news. They have produced
The Washington times., 1934-03-22
High Low 100

High Low 100
Penn RR cons As '4S ..T102s T1O2qs I1O33s
Penns RR con- con- as 50: 1914 1o7H I107Ia
Penn RR gen 4l3s '65. 80 9S9s 80
Pere Marq 4hs c 80. ~ u y
Pere Marq 1st rs '56.. 10 20 70,
Phil & Rg C&I rf SIS 73 55h SAY 54N
Phil R C&I IS 49,. 45% 45A 45%
P6Is PRiIs Gf Gp Ge g :. Il 1sS sS sx ss ss
Philippine Ry As 3D.. 31A 31A 81
Phillips Pet 5As So. 9SA 9S SO
PCC&StL IS ..I1o3N J1O3b l1O3%
PittsY&A 1st gn B 5s 104 I1O4 i1O4
Port o Gen Ell 1st IS 92A 92A 92A
Port Gen Ell 414s...... 5Ol2 so SO
Postal Tel & c 5s..,.l 531a 53h 53a
pub SE&G As II ..... 100 Is I1OO2s 100 Is
Pure Oil 5As '37...... SO 9SB 80
Pure Oil 1ss '4O...... 81 96A 96A
Rg Co gn&rfA 41as 97.f1OO y I1O01a 1OOFs
Rem Arms IS A 81. lO2 1O2 !l02
Rem Rd 5hs AT WV. 89h 8SB S8B 70
Rev Cop & Brass IS '4s. SO 93 %
Rich Oil Cal IS IA. 80 2912 - "a
Rio CIR w 1st to As '39. S5A 80 20
Roch G&E IS E '62 1913 y 1O3% 1O3%
RTArk&L 1st AIS pa 10 10 19
StJoeRyLH&P 5s '37 81 81 81
StLIM&SRiv&G As '33 SO 50 SO
StLPeor&N LIST IS '4S 72 1924 ~
StLSFrRy pla As 80 % % ~
StLSFrRy p As A ct 80 2Oh 2Ols 2O!s
StLSoWn 1st ter 5s 80 611s 6112 6l1a
StP&KCSL 1st 41ss Al 3012 30i3 SO12
StPMin&Man 5s 43. I1O3% 1O3 9s 1O3A
Sbd AL IS A '45....... 12R 12l5 12l3
SID AL IS AS ct...... 10a 10& 1OI
Sbd All Fla IS A ct '35 5A 5a4 5A
Shar SHIP 1st SIS s48 So 5S So
Shell I'm Oil 5s Ctww 40 96% 96% 96A
Shell Pipe l. SIS '52.... 9S1s 98 9S1s
Slesian AM rs '41..... 55h SIS 55
Sine c Oil 1st 61a sB' 3Sl104 y l1O4B IlO4Ss