davidaulloa/AmericanStories huggingface dataset:
, 1934-11-14
HARRISON test
MAKES OIL IN
EASTERN field

MISSION, Nov. IA Excite
ment was running high here
Wednesday on favorable reports
from the samfOrdyce field on an
important eastern outpost well.
The X. ID. Harrison ct ais No.
l Francisco Guerra, In tract IL,
porci0n Al. about 500 feet east
of the discovery well, began maxi
ing oil and drilling water on an
eighth-inch choke before dawn
"Wednesday and gave promise OF
making an excellent producer.
The test was cleaning itself
wednesday morning through tub
Ing under a tubing working pres
sure Of $50 pounds, and a closed
In casing pressure of 800 pounds.
, 1934-11-14
Fear Expressed For
Americans In China

CANTON. China. Nov. l4.-tPJ-
Fear for the safety OF five Ameri-
can missionaries and their families
was felt Wednesday as the result
Of ar attack on the city OF In
chow by Chinese communists.
A warning Of communist activity
In the section had been telegraph
ed 10 them by the American con-
sulate here but 1t was not known
whether the message got through.
Linchow. l40 miles northwest OF
Canton, Is but about 100 miles west
Of Shiuchow, which was reported
Tuesday TO have been saved by
Cantonese troops from a conn. unist
inyasiOn.)
, 1934-11-14
Not Guilty Plea Is
Entered in Staying
Especial 70 The Heraldl


BELTON. Nov. IA. -tR1- Hugh
McCann pleaded not guilty 10 q
charge Of murder when arraigned
for trial Wednesday In connection
with the Staying OF Mrs. Lillian
Davis OF Temple on September 10.
A jury to hear the case was COM
pleted Tuesday night and testi-
mony began at once. The state
called to the stand Weldon MinE
son Of the dead woman. He testt-
fled that Mccain came to the
home Of his mother the afternoon
Of the Staying and threatened 70
kill Mrs. Davis and any nan
found with her" Miller said he
tried 20 dissuade Mccain from
carrying cut the threat.
, 1934-11-14
NEW YORK CURB

NEW YORK. Nov. IA. Rp-Spe-
cialties continued to work higher
on the Curb Exchange Wednesday
but other sections OF the list, in
GLIDING oils. utilities and indus
trials. were subjected to some pres
sure and showed losses I'D to u
point. Trading was brisk at the
opening but tapered off before the
end Of the first hour.
Duplicating its performance In
several, recent sessions, Singer Mfg.
made another new top at 275. I'D 4
points from the previous day and
, 1934-11-14
IT. WORTH GRAIN

FORT WORTH, Nov. i4.-tPt-
Demand was steady on the cash
grain market here Wednesday.
Estimated receipts were: wheat 8
cars: corr 2, oats /.
Prices quoted:
Delivered Texas Gulf ports. ex-
port rate, or Texas common points:
Wheat No. l hard i.l3A -i.l4h.
Barley No. ? nominally 1895; No.
8 nominally o2-p3.
Sorghums No. 2 milo per 100
pounds nominally 2!02-2!O5; No. J
milo nominaily 2O0-2.03; No. z
kafir nominally l.o3-I95; No. J
kafir nominally l.9l-i.e3.
Delivered Texas common points
or group three:
Corn No. 2 white i.i0k -l.i1k;
No. 2 yellow lO5k LOOK.
Cots No. 2 red 63A-64h: No. 3
red 62h -631s.
, 1934-11-14
Peace Officers Meet

EDINBURG, Nov. l%-Quarterly
meeting or the Rio Grandc Valley
Peace Officers Association will ~
held here wednesday night. Sheriff
Tom Gin and Hidalgo county OF
ficers acting as hosts az q barbecue.
Both Sheriff Gin OF Hidalgo and
Sheriff w. Frank Brown Of Cam
eron county will retire from office
January / and this Is the last meet
ing they will attend rs regular
members. An excellent attendance
II anticipated as IA farewell 10 the
two officers.
Ralph u. King az McAllen- presi-
dent or the association, viii pre-
side az the business meeting.
, 1934-11-14
FORT WORTH LIVESTOCK

FORT WORTH. Nov. l4.-Pl-
CU. 8. d. OF A)-HogS: 900; steady
to 10 higher, mostly steady; top
6.l0; one load good 70 choice 247
ID. rail hogs TO small killers at
6.l0; 2 loads good light and me-
dunn weight rail butchers 70 pack
ers 5.9S and 600; bulk good 10
choice lS5-270 ID truck hogs 500:
packing SOW steady to Is higher,
mostly 500 and SIS. few $50.
Cattle: 1900 commercial, $50
government: calves: 400; mostly
steady on all classes cattle and
calves; some off quality grass
slaughter steers 3.00-50; 3 loads
very good fed heller yearlings $50:
one load fairly good yearlings
5.25; butcher cows l.75-2.4o: slaugh-
ter calves slow. steady 70 Is lower:
better grade heavies 3.25-T5.
Sheep: 2.000: all classes steady:
medium to good fat lambs 500
500; fat yearlings ATS down; aged
fat wethers 25O-SOo; feeder lambs
3.25-4O0.
, 1934-11-14
MUSIC DROPPED FROM PLANE

Flying over a liner on which j.
Gilbert was sailing for New York.
Peter Maurice, a young English
composer. dropped the words and
music OF a selection TO the deck OF
the vessel. Gilbert and Maurice
we're collaborating or the work. and
when Gilbert left London Maurice
had not completed the selection. 40
had 10 fly 70 Queenstown 70 over
take his friend.
, 1934-11-14
Westbrook to Speak

Notice was received at relief
headquarters here Wednesday that
Col. Lawrence WeStbrook, former
state relief director and nov with
the national relief administration.
will talk over the radio Wednes-
day night on the agricultural re-
Mobilization program.
, 1934-11-14
CHICAGO GRAIN

CHICAGO. Nov. IL. Pl-Grain
prices averaged lower early We'd
nesday, influenced by Liverpool
failure TO respond TO market
strength shown Tuesday this side
Of the Atlantic. Heavy rains in
northern Texas were a bearish
factor as to wheat. Opening y off
to u UP. May 99is-%. Chicago
wheat afterward sagged all around.
Corn started h-1 dove, May 80,
and subsequently underwent a gen.
eral drop.
, 1934-11-14
Conviction in Sons
Death In Reversed

AUSTIN, Nov. l4-RJ-The case
OF Charles s. Richardson. given a
90 years sentence for killing his o
Elga, at Olney on January !, 1884
was reversed and remanded We'd
nesday by the court Of criminal APP
peals.
, 1934-11-14
STOCKS IN THE SPOTLIGHT

NEW YORK.-Sales, closing price
and net change Of the Is most ac-
tive stocks Wednesday:
Nat Dist 25,e00-23% up a.
Consol Gas IS ,900-23% down a.
Briggs Mfg 2l.500-22 up S.
Un Corp l8.700-3is down u.
Stude 17.l000-2 down ~.
McKesson&Rob A,200-8 UP n.
M Ward i3,9Q0-28% own y.
Gen MFR i3.500-30% no.
Comwlth&&Sou l5,500-lk down
u.
FL Boat l2,000-5k UP X.
N Amer IL, i00-llh down u.
Gen FL 1l,000-l9 down "a.
NY Cen l0.200-2lS UP y.
so M 9.600-42% down n.
Am Rd Std San 9,300-l5E no.
, 1934-11-14
NEW YORK FUTURES

NEW YORK, Nov. i4.-tR-Cot-
ton futures closed barely steady
7 IN IN lOweP
, 1934-11-14
NEW ORLEANS FUTURES

NEW ORLEANS. Nov. l4.-P,-
Cotton futures closed steady nj
net declines OF Q TO 10 points.
, 1934-11-14
GRAIN CLOSE

CHICAGO. Nov. IL. Up
Open High Low Close
, 1934-11-14

weights common and medium $50.
, 1934-11-14
\

NEW YORK, Nov. "a. W1-Gov-
eminent bonds.
Evening star., 1934-08-12
TIN PLATE OUTPUT
INCREASES SHARPLY
Prices for Metal Climb Half a
Cent as Dollar Goes to
Lower Levels.
BY the Associated Press.

BY the Associated Press
NEW YORK, August 11.-A sharp
rise In tine plate production featured
the metal markets in the last week,
but while # had no immediate in
duence on the demand for tin, an ad-
vance Of about y cent for the week
was registered as the dollar weakened
in foreign exchange following the
presidential decree Matchmaking silver.
Tin plate mill operations rose from
about As to 65 per cent Of capacity
on increased demand from can COM
panies as a result of the slaughter Of
cattle in drought States. Manu-
facturers were believed to have large
supplies of metal on hand, however,
and little or no buying developed as
prices rose.
The step-up In tin plate operation
was also largely accountable for
slight rise in steel mill production.
Otherwise there was little feature to
the steel market.
Antimony was the only other nom
ferrous metal to rise as a result Of the
weaker dollar, which made import
costs higher from the Far East.
Zinc displayed a very steady under
tone, although the price was un-
changed Copper remained quiet at
the unchanged basis Of cents for
Blue Eagle. Lead ruled steady Ia q
quiet market.
Evening star., 1934-08-12

HARGNG that the Govern
A ment through the TenneS-
Y see Valley Authority has de-
~ liberately set out on an ex-
pertinent which will weaken,
If not destroy, the confidence of the
American public in the investments
in privately owned utility companies,
and that it is weaving away the sup
port of hundreds of thousands Of
retailers throughout the country by
the sale of electrical appliances
through the T. v. A. in direct COM
petition TO them, David Ovens. preSi-
dent of the National Retail Dry
Goods Association. today labeled the
whole T. V. A. venture as q huge
governmental mistake"
Il hold no brief for the privately
owned public utilities Mr.. Ovens
declared, and il il could be proven
that their rates are too high. wouldn't
the proper remedy be governmental
regulation rather than governmental
competition, costing so many millions
Of taxpayers money and creating SO
much additional power for which
there is no economic necessity or
logical narket?"
Government competition with util-
tiles. leading To the undermining Of
Evening star., 1934-08-12
Retail Leader Calls L. Y. A.
"Huge Governmental MiStdke'

public confidence in securities Of pri-
vate utility companies, will work
havoc with the investment structure
of the country and ieopardize busi-
ness recovery in practically every
field, he said.
The insurance companies with
SIS, 900. 600 policy holders have round
ly 81, ,s25, ,0o0, 900 invested in privately
owned utility companies: savings
banks of the country have some
5000 ,0o0, zoe of their depoSitors money
invested in utility bonds. In addi-
ton there are work-a-day men and
women who have one or two bonds
and few shares of stock, making a
grand total of 10000, 900 utility in
vestors throughout the United States.
When these millions are aroused
against the danger with which this
Government experiment is fraught,
they will make a political power some
body has got, 10 reckon with
IF T. v. A. was solely intended tc
supply a measuring stick TO find out
the cost Of producing electrical
energy, 1t could have done so at a
lot less expenditure of the taxpayers
money. and it need not to have built
dams and bought power, and Incl
dentally embarked into the retail
business 10 do in"
Evening star., 1934-08-12
LAUDS ACT AIDING
DETERMINATIONS
Frederick S. Dudley, President Of
National Refnance Corp,
Outlines Benefits.

In an Interpretation Of the high
points in the corporation reorgantza-
tion amendment passed by the last
Congress, Frederick S. Dudley, presi-
dent of the National Refinance Corp
with head offices in this city, declares
the legislation changes the procedure
for the reorganization of corporations
and will have very far-reaching effect
in the Nations economic progress and
recovery.
1t will be recalled that the amend
ment enables corporations seeking re-
lief from obligations which they can
not meet, to adjust their debt struc-
lures under the Federal courts, with
out the stigma Of bankruptcy.
Mr.. Dudley, in praiSing the legisla-
ton. outlines the methods of pro-
cedure and tells his clients all over
the country that only when debts are
adjusted on a permanently sound
basis does real recovery begin. The
new act, through the sanction Of the
courts, contributes materially TO this
aim, he says.
Evening star., 1934-08-12
BUSINESS NEARS
SEASONAL. LOWS
Iron, Steel and Other
Heavier Lines Show
Widest Declines.
Special Dispatch to The Star.


NEW YORK, August lin its
weekly summary of the general busi-
ness situation. the Standard Statistics
Co. of New York currently comments
as follows:
General business during recent
weeks has continued its somewhat
greater than average seasonal down.
trend, and estimates of the Standard
Statistics Co. index Of industrial pro-
duction for the month of August
place it at So, as compared with 63.1
for July and 68 for June. From the
April peak Of 70.5, the decline has
amounted to 17.6 per cent.
while the current low level of the
index represents a decline of approx
mately 20 per cent from year ago, re-
sponsibility for this recession rests
largely with a number of the heavier
lines, particularly iron and steel, which
have been under the influence Of spe-
cial circumstances such as inventory
accumulation and labor troubles. Con-
sidering industry as whole, including
small trades and activities, it is ap-
parent that the recession from last
year has been much less pronounced.
Measured by the index Of electric pow
er production, for example, the rela-
tive decline is only about 2 per cent.
Among the major lines of industry
still operating at levels substantially
above those Of year ago are lead, live
stock slaughterings, lubricating oil,
kerosene and cement. Those lines in
which activity has receded to from 30
to so per cent below that of August,
1888, include zinc, cotton. pig iron,
steel ingots, auto tires, lumber, tin and
wool"
Evening star., 1934-08-12
Wall Street Studies Pamphlet
Predicting Boom for america

would be reached and surpassed by
1898.
However, the digest of Maj. Angas
views, as prepared by the brokerage
firm, includes the following high
spots: Looking at the American mar
ket on strictly scientific investment
principles. it is ridiculous not to buy
common stocks Cd when a country
is initiating (early stages as distinct
from latel, (2) When the second
year Of revival has begun. CD When
money Is cheap and bank reserves are
unstrained. (4) When the Nations
exchanges are not overvalued. (5)
When the market has reacted from
the recent highs by the normal
amount for the normal period (6)
When the Government has declared
TO raise prices and has unlimited
power to do So"
Evening star., 1934-08-12
.LAbORPOLICY HELD
BIC OBSTACLE TO
TRADE RECOVERY
Higher Wages Lift Prices
and Limit Volumes, Re-
view States.

According to the Alexander Hamil-
ton Institutes current bulletin, the in
crease of 1891 900 In the number of
employed factory workers from the
1898 low to the 1884 high was due to
gain in the total output of manufac-
tured goods and not the Governments
labor and wage policies under the
N. r. A. Says the institute:
"The increase in employment was
not due to the curtailment Of working
hours as the Government likes TO
claim, inasmuch as it naturally wants
the credit for the increase in employ
ment and the shortening Of working
hours was the method which 1t ac-
cepted as the means Of doing this. As
a matter Of fact, there has not been
much of decrease in actual working
hours since March, 1888. In that
month, hours worked per week per
employe totaled 36.5, whereas in May,
1884, hours totaled 35.4.
'The increase IN employment was
not due to the regulations against an
increase in working hours because IL
working hours had been increased, the
purchasing power of the workers would
have heen higher. This higher pur-
chasing power would have caused q
sufficient gain in the total output to
have increased employment to a prob
ably greater extent than that which
actually occurred.
In fact, the Governments labor
policy, inasmuch as it favors higher
wage rates, has prevented employ
ment from regaining the pre-depres-
sion status. Factory wage rates rose
from the depression's low of 4l.8
cents per hour in June, 1888, to 55.1
cents per hour in May. 1894, or nearly
to the 1929 level of 58.7 cents. This
increase in wage rates resulted in an
advance in the price of manufactured
goods. This price increase pre-
vented factory output from attaining
the volume necessary to provide full
employment. Moreover, the increase
in wage rates was of little benefit to
those employed because the rise in
prices practically offset the increase
in their income.
"A year ago, the downward adjust
ment of wage rates necessary to full
production and full employment was
nearing completion after four years
of difficult defiation. If there had
been little more deflaticn Of wage
rates and the proper adjustment of
manufactured goods prices to wage
rates. the factory unemployment prob
lem would now be well on the way to
solution and the individuals purchas-
ing power would be as high if not
higher than it actually is today.
With the unemployment problem
thus on the point of being solved.
wage rates were arbitrarily raised
under the N. r. A. and practically
everything which was accomplished
over a period of four years toward the
proper adjustment of wage rates was
nullified during the past year. This
means that the Nation must go
through another period Of wage de-
fiation before it solves its unemploy-
ment problem.
The present prospect is that this
re-deflation of wage rates will be re-
tarded by the Governments relief
policy"
Evening star., 1934-08-12
j. 5. STEEL PLANS
BACKED BY CASH
Huge Reserves Retained.
Modernization to Have
Wide Effects.
Special Dispatch to The Star.

Special Dispatch TO The Star.
NEW YORK, August 11.-Money
stfll talks. That is why the announced
intention of the United States Steel
Corp. to improve and modernize its
plants is not to be lightly regarded.
The big corporation has the money
plenty of 1t.
After four and one-haH lean years,
its net working capital-which is the
excess of current assets over current
liabilities-is down only $61, ,268, 900.
AS of June 80, 1884, the total was
s379, $685. 900, as compared with $44o,-
874 900 on December 81. 1929. This
showing reveals a remarkable ca
pacity for taking it on the nose"
and still maintaining strong flnan-
cial position. In three years out Of
the last four, the corporation has
had a deficit after dividends, but only
in one year, 1892, has it shown an
operating loss.
What United States Steel will spend
in plant developments no one has any
means of estimating, but the aggre-
gate may be very large. In recent
years, rapid strides have been made in
the development of more efficient
steel mill equipment-such as, for in
stance, continuous strip mills, which
are well-nigh automatic, from billet
to finished strip.
During the last three years the
corporation has tapered off its ex-
penditures for new construction, drop
ping from $144 ,439 900 in 1880 to less
than 100000 last year. Its ex-
penditures for ordinary repairs also
have declined sharply. In 1888 about
SAC, ,00O, 900 was spent on this account,
as contrasted with well over 500, ,000,-
900 in each of the seven years 1928
to 1929, inclusive, when active opera
tions necessitated more repairs.
When a very large unit of planned
economy" such as the Steel Corp,
decides that it is time to go ahead
with development work, an important
step has been taken toward starting
things up in other directions.
(Copyright, I934l
Evening star., 1934-08-12
PA FIRMS DISCLOSE
LARGE PROFIT GAINS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, August 12,-An in
crease of 81 per cent in the earn
ings of 224 corporations during the
second quarter as compared with the
corresponding period of 1888 is re-
vealed by a compilation prepared by
the Investment Research Department
of Eastman, Dillon & Co.
Aggregate net income of these COM
panies for the three months ended
June 80 was $214,676,o ,o96 contrasted
with $156. 6.67s.s11 for the second
quarter last year, when recovery was
just getting under way.
There is sufficient evidence" says
the firm in its analysis of the earn
ings reports, ito indicate with con-
siderable authority that the improve
ment has been primarily in the
heavier industries supplying capital
goods in contrast to the poorer show
ing made by the industries more
closely related to the consumer"
Evening star., 1934-08-12
EARLY STEEL REVIVAL
REGARDED AS UNLIKELY
BY the Associated Press.

BY the Associated Press.
NEW YORK, August 11.-Fresh
weakness in scrap quotations is ac-
cepted as indication that not much
in the way of early revival of steel
operations is in sight. While con-
sumers have been using up some Of
the excess stocks they accumulated
late in the Spring before increased
third-quarter prices became effective
they have been slow in repienishing
inventories. Plans by the National
Tube Co. for two-week showdown
and a moderate curtailment Of sched-
ules by other producers Offset indi-
cations the past week OF slight ex-
panSion tendencies.
Evening star., 1934-08-12
Drought Relief
Becomes Growing
Federal Problem
special Dispatch to The Star.

special Dispatch to The Star.
NEW YORK. August 11-"Just at
the moment when it seemed psyche
logically, If not politically, possible TO
substitute recovery for reform In
Washington thinking, there has arisen
the third r of relief to absorb and
presumably direct administration at
tention for some time to come" Elec-
trical World says in its issue today.
Losses of $4,000, ,000,o0o in drought
stricken areas" it continues, "as re-
ported to the President, scarcely en-
compass the full facts of the national
disaster which has completely over
whelmed more artificial elements in
farmer economic relationships.
Business facts of the week will in
creasingly derive their impulses di-
rectly and indirectly from the drought" :"
Evening star., 1934-08-12
BY the Associated Press.

BY the Associated Press.
N JEW YORK, August 11.-n
IN several brokerage houses
copies have been received and
l. digests made of the heralded
pamphlet entitled THE Com
ing American Boom" by the British
economist and market forecaster, Nal.
L. L. B. Angas.
His diagnosis of the American sitti-
alton Is receiving vide attention In
Wall Street.
According to summary issued by
one house, Maj. Angas thinks Amer
ican stocks might get back to 1929
levels by 1898. Which reminded skep-
ties of the predictions made in 1880
by an investment expert whose opin-
ions earned him great respect in the
boom days, namely that 1929 prices
Evening star., 1934-08-12
LOWER ASSETS SHOWN
BY KELLY-SPRINGFIELD
V the Assocfated Press

BY the Associated Press.
NEW YORK, August 1i.-Current
assets of springfield Tire Co. as
of June 80 totaled $6,758, ,242, includ-
ing $9o1 ,055 in cash. Current nabil-
tiles were $1,ll7,597. This compares
with current assets Of $6,9l8,274, in
cluding cash Of $842 ,452, and current
liabilities of S6e6,677 at the end of
1888.
Evening star., 1934-08-12
SHORT INTEREST EDGES
HIGHER DURING JULY
Rx the Associated Press.

NEW YORK, August 1.-THE New
York Stock Exchange announced to-
day that the total short interest in
listed securities as Of July 81 was
72S,l6l shares. compared with Ill.,
al on June 20.
Evening star., 1934-08-12
STORE SALES LARGER.

NEW YORK. August IL kA9.-SaIes
Of the First National Stores Co. in
the four weeks ended July % totaled
ss.6ll,6S2. against sS,474.sel q year
ago.
Evening star., 1934-08-12

CONTINUED on Third Page.l
The Waterbury Democrat., 1934-07-11
LUPE YELEZ TO SEEK DIVORCE
She Still Loves Johnny Weissmuller But They
 Are Not Happy

Hollywood, July 10 -(UP)- Lupe Velez will sue Johnny Weiss muller for divorce within a few days, she announced today.
 The Mexican "firecracker" of the movies said she and the man who plays the part of Tarzan, the Ape Man, fer the screen, were too much alike to get along. They already have separated, she said.
 "Our temperaments are exactly alike" she said. "Our life thus has been continual series of quarrels. We've been very unhappy lately. Sure, Johnny and I love each other. I thought separation for a while might give us a chance to get off each others nerves. I went off on personal tour, but John ny followed me by plane. We simply could not make a go of it."
 Weissmuller, who was a swim ming star before he became a movie star, has moved to the Hol- lywood Athletic club. He could not be reached for a statement. They eloped to Las Vegas, New, Oct 8, 1883, and separated once before, but were reconciled.