davidaulloa/AmericanStories huggingface dataset:
Evening star., 1934-10-18
BARKLEY REVIEWS
TASK0F CONGRESS
Kentucky Senator Discusses
Emergency Laws in
Radio Forum.
tcontinued From Twelfth page.)

all elements are now contributing to
the enormous sums going for relief
In this free and wealthy Nation.
The details of such a plan must be
worked out carefully in order that
the burden may not fall unfairly on
any class. But we cannot much
longer postpone an attempt to deal
permanently with this social problem.
Another question which think Con-
eress will have to deal with at the
coming session is whether the power
of the Reconstruction Finance Corp.
to make loans shall be extended be-
yond January 81, 1885. when 1t Will
terminate unless extended.
There has been no agency OF the
Government which has rendered to
the Nation a greater or more con-
structive service than has this Re-
construction Finance Corp. 1t has
been indispensable to American finance
and industry, and likewise to Ameri-
can labor In my judgment its work
is not finished. I believe that Con-
gress should extend the time for
considerable period within which 1t
may continue to make the character
of loans which it has been and is
making.
C. C. C. Fate Up to Congress.
Congress will likewise have to de-
termine whether the character OF
work carried on in the Civilian Con-
servation camps shall be continued or
terminated in the near future. I think
1t is admitted now by all those who
are familiar with the work of the
conservation camps that this program
has been a wonderful revelation to
the people as well as those who have
been enlisted in the camps themselves.
The work has been useful, educational
and strengthening. 1t has brought
to hundreds of communities better
knowledge of the conservation and
improvement of our national re-
sources. These camps have been
sought for by thousands of communi-
ties throughout the Nation. They, or
something equally as important and
helpful, should be continued in the
future.
All of these matters bring to our
attention the question of taxes, of ap-
preparations, and the budget. There
are none of us in any position of re-
sponsibility who would not like to see
the budget balanced within month
or year, if it were possible. But
while the balancing of the budget is
an important objective, it is infinitely
less important than the preservation
of the moral, social and economic
fiber of our people as a whole. While
I have always favored the complete
balancing of the budget, and look
forward with anxiety to the day when
we can announce its accomplishment,
I do not regard it of and by itself as
a panacea for all the terrific evils
which have come upon us within the
last four or five years.
Spent 80 Billions in 19 Months.
During the World War we spent
more than 80 billion dollars in 10
months, and we increased our national
debt from two billion to more than 26
billion dollars. While we were spend
Evening star., 1934-10-18

the encouragement Of education and
many other great questions with which
Congress will be called upon to deal,
which for lack of time cannot now
discuss. But have no doubt that at
the beginning of the coming session
the President will lay before us in full
and complete form such questions and
suggestions as he shall deem worthy
Of our attention and necessary In the
public interest.
Our Nation has lived for a century
and half. During that period we
have had and faced many great crises.
Constitutional restrictions have been
invoked all during our history to pre-
vent the accomplishment of our ma
tional destiny. We cannot escape
these experiences in the future.
Many of our people honestly believe
that Congress and the Government
Evening star., 1934-10-18
See Your Dodge Dealer for Showdown" "
of Features -. Compare Delivered Pricesl

MO wonder truck buyers by the thou
In sands-everywhere-are switch
ing to Dodge. For, today, your minimum
truck budget buys q Dodge! Yet, in a
show down" of high priced, money
saving features Dodge leads the other
two lowest-priced trucks by an amaz-
ing margin. Byactualcount, Dodge gives
you Is of these known, recognized, high
priced truck features and Dodge
alone, among low priced trucks, gives
you anywhere near all of them.
For over IL years Dodge trucks have
been famous for extra dependability.
Dodge features plus Dodge craftsman
Evening star., 1934-10-18

ship mean more value for less money y.
a truck that costs less to operate >. q
truck that runs with fewer repairs a
truck that's running years after an ordi-
nary low priced truck is through !
sAmenca's three lowest-prieed lz-ton trucks
are now offered at virtually the same prices. On
some types Dodge is lower. On others, Dodge
costs few dollars more. In every case the differ.
ence 10 slight. Here are some examples. Check
Dodge prices against the others for yourself:
1z-ton. 6-cyl 1871 and 1861 w. b. Chassis Nov eco
llfton. ecyl, i@S and l6l. w. b. Chassis Now $50
1ton Special. 6-cyl. 1866 b. Chassis Now eS<S
1ton. 6-eyl 49, w. b. Canopy sz2o
1fton 6-cyl. l3l w. b. Panel. Now $40
l1<ton. 6-eyi, 1856 w. b. ..Nows60
All prices shown here are O. B. factory Detroit cub.
The Washington times., 1934-12-12
LARGER BANKS
MAY PAY MORE
INSURANCE

Large banks face payment of
greater share of deposit 1nsur'
ance costs in the Administrations
new Banking Bill.
Under present insurance laws,
only deposits up to $4,000 are in
sured. The Federal Deposit In
surance Corporation may assess
a bank a maximum of one-halt
of one per cent of its total In
Sured deposits.
So far, however, the assess
ments have been only one.quarter
of one per cent. Leading Con-
greSsmen and officials, including
Chairman Leo T. Crowley OF the
FDIC, suggest the assessment
should be fixed definitely Ivy law.
A number of congressman have
adopted the view that if the pre-
MUM is to be made definite, 1t
should be only one-eighth of one
per cent and assessable against
all deposits, whether insured or
not.
Many banks in financial CEN
ters have comparatively few &C.
counts under $4,000. They get
deposit insurance by paying only
a few thousand dollars in assess
ments. In smaller banks, The pro-
portion is the reverse.
The Washington times., 1934-12-12
CANADIAN GRA|N|UT|UTY SELLING
MEN SEE BOOM DRIVES CITED

WINNIPEG, Manitoba, Dec 10
U.SD Canada grain traders
as we'll as ship owners are antici-
pating boom times because of an
indicated pickup in the grain eX-
port trade.
A recent decision of the French
government to abandon wheat
bonusing, 1iquidate its surplus
stocks, and return to a wheat i'm
port basis is acclaimed here as
one of the most important mar
ket developments since the 1929
grain export trade days.
The reversal of the French
wheat policy is reflected as a step
toward international revival Of
grain trade.
While Canada may suffer in the
immediate future from the forced
sale of any surpluses now held by
the republic-estimated at so mil
lion to 10 million bushelS-it will
eventually mean the reopening OF
the French market to the Ca
madam grower and other exporting
nations.
A report on the Great Lakes
wheat and grain barges discloSes
that the United States has been
one of this countrys greatest
purchasers in the past year, and
with the French market in view
a pickup in business is forecast
generally.
Growers regard the heavy pur'
chases of No. 6 Manitoba wheat
in the United States as indica-
tive of the severe feed shortage
there, and should the United
States buy any wheat from
France, the sale of the low grade
wheat would not be seriously
hindered as the better grades for
the bread market are available.
Removal of the cheap wheats
of low grade to the feed market
would likely cause the Liverpool
prices of grain to reflect the
value of good bread wheat and
thereby tend to rise toward the
Winnipeg levels, grain traders
claim.
The Washington times., 1934-12-12
COL. AYRES ASKS
NRA END

Abandonment of the National
Industry Recovery Act when it
lapses next June and the substi-
tuition of new legislation reducing
regulation and restoring price
competition is urged by Col.
Leonard P. Ayres. Cleveland
banker and economist.
That and two other 'readjust-
ments of our economic machine"
we're urged by Colonel Ayres in his
annual business review and fore
cast for next year. They are:
/. Convincing evidence that
Federal policy is moving reso-
lutely toward the attaining of a
balanced budget based on sound
money, and
2. A thorough revision of the
securities act designed to making
the issuing of new corporate Sc
curities as simple and inexpensive
proceeding as is compatible with
safeguarding the interest OF in
vestorS.
Appearing before the Cleveland
Chamber of Commerce for the
fourteenth year to present his
views on the business of the past
year and his forecasts for the
next, Colonel Ayres declared that
artificial political barriers stand
in the way of a return to pros
perity, and predicted that 1885 in
business and industry will be a
year much like 1884.
Colonel Ayres went back year
to find his business forecasts for
1895. He repeated the IA general
forecasts he made a year ago. that
time applying to 1884, and said
they all remain valid and so are
extended for another year.
Colonel Ayres said the year
will probably be the most decisive
year of the depression for our ma
tional recovery program. The
nation, he said, cannot indefi-
nitely, or much longer, continue
expending sums greater than re-
ceipts in order to stimulate bust
ness.
The Washington times., 1934-12-12
BUILDING DOWN
IN NOVEMBER

The value of building permits
issued during November fell
sharply below the October figure
and also slightly below the total
for November, 1888, Dun and
Bradstreet reported yesterday.
Reports from 215 cities showed
permits in November for new
buildings. alterations. additions
and repairs were valued at $27,'
413,602, against $37,501,122 in
the preceding month and $26,021,"
6S8 in the like period of last
year. This represents a drop in
November of 26.9 per cent from
October against the normal sea-
sonal falling off of IL per cent.
The decrease from a year ago was
% per cent.
In New York city, five bor-
oughs reporting, the volume of
permits issued in November
totaled $5,794,025, against $780,
972 in October and $10,748, ,633 in
November, 1893. The aggregate
of permits for 214 cities outside
of New York was $21,619,577
against $29.14O,150 in the pre-
vious month and $17,273,055 in
November, 1888.
The Washington times., 1934-12-12
CARRIER ISSUES
LEAD BOND
DECLINE
BY SAUL LEHRER

NEW YORK, Dec. IL GN.SN
The course of prices pointed
slightly lower on the bond mar
ket today.
Second grade and more specu-
lative railroad liens were upset
by the sharp decline in carrier
stocks at yesterdays close and
worked lower. st. Paul adjust
ments. low priced speculative
6avorite. led the decline.
United States Governments also
showed reactionary tendencies on
profit taking induced by the re-
cent strength. Liberty First 414s
were unchanged, Liberty Fourth
4As third called were up lightly.
and Treasury 314s of l946, Fed
eral Farm Mortgage IS, and
Treasury IS of 1948, were lower.
High grade liens also showed
moderately easier tendencies.
B-M-T IS. and youngstown Sheet
SIS B declined, while American
Telephone SIS remained I'm
changed.
Foreign governments were fea-
tureleSs at the start.
The Washington times., 1934-12-12

Selling drives by the utilities in
the pre.depression years were cited
yesterday by the Federal Trade
Commission as a cause for the
great losses to investors.
Making another report to the
Senate on its six-year inquiry into
utilities, the commission said:
at probably would not be
Overstating to say that the losses
to investors in utility campaigns
for selling and the increases in
prices effected thereby were in
the billions"
While engaged in propaganda
to disparage public ownership,
the commission said. "the utilities
pursued their ultimate objective of
creating a halo around all their
practices, including financing"
Additional super-holding COM
panies were also created which
issued securities almost without
limit, the report said. often with
little or no regard for the under
lying SoundneSS of or necessity
for such issues-in a field devoted
to public use, and supposedly regu-
lated as local monopolies.
Among the holding companies
that brought forth and sold large
quantities of such issues, accord
ing to the Federal Trade Commis.
sion were:
insult Utilities Investments,
Inc, and Corporation Securities
Company of Chicago Gnsull com
panies); Associated Gas and Elec.
tric Company group (the Hopson
and Mango group; Common
wealth and Southern and United
Corporation Commonly referred
10 as Morgan groups); Tri-Utili-
ties group (Ohrstrom group !:
Foshay group; Standard Gas and
Electric Company group 'BylleSby
group; Central Public Service
Company (the Pierce group) !;
and Cities Service Company
group (Doherty group.
The report declared:
Much of the selling by the
two last named companies was
accomplished by actual dOor-to-
door peddling by employees of
the subsidiary operating COM
panies. In other instances Gus
toner ownership and other high
pressure local sales campaign
were planned and carried out"
The Washington times., 1934-12-12
NEW YORK JOBS
AND PAY DIP

NEW YORK, Dec. 12.-Seasonal
recessions in several industries
caused factory employment to de-
crease IA per cent in New York
State in November, Industrial
Commissioner Elmer F. Andrews
reported today.
Payrolls likewise declined IL per
cent.
The greatest losses were re-
ported in the food, tobacco,
leather goods. furs. rubber. cloth
ing, textile and gloves groups.
Small gains were recorded in
the iron. steel, brass, copper and
aluminium industries.
Employment in New York City
factories decreased "a per cent
and payrolLs 3.8 per cent, largely
due to seasonal curtailments in
clothing and millinery groups
which reported fewer operatives
than in October.
With the exception of Syracuse
and Binghamton, all of the major
upstate industrial centers re-
ported decreases in both employ
ment and payrolls.
The Washington times., 1934-12-12
CHIEF PRODUCE MARKETS

steady. Crates: Oregon. $1.5O9I76;
California $1.4OGI5O.
BROCCOLI-One Cal. arrived; 1 TN.
broken car on track. Supplies light: de-
mana light. market steady. California,
cr,.'us. $@75. few higher.
Carrots-No carlot arrivals; broken
cars on track, California. Western Lett
tuce crates. $2.SO93; Pennsylvania.
bushel baskets topped, 75c.
Beets-TeXas, 12 crates, $1.509176.
Parsnips- bushel bas-
Radishe> - South Carolina, bushel
bo3es, $l.50.
OrangeS-No carlot arrivals; l broken
and unbroken cars on track Florida.
boxes, $2@2.70, according to grade and
siez.
Grapefrmit-One Texas arrived; un-
broken cars on track. Florida, boxes,
S1.5OQ2. according TO grade and size.
Observation-Disclosures, AS bushel boxes.
$1@l.25.
Lemons-California boxes, 1905. &C.
cording to grade and size.
ACKNOWLEDGEMENTS, boxes. $lG1.25s
mostly 81.
Pecans-Georgia, per pound, schleys,
23 q 25c; stuarts, 18@3Oc; other varie.
ties, 121. q 16c.
car on track. New York, bushel bas-
kets, Keffers, very few sales, 1880
1.35; few $3.50.
broken car on track.
Onion Sets-Tow New Jersey arrived:
2 unbroken cars on track.
L: G: l.. Express Arrivals Ct
Washington, ID. D.. Dec. II, 1884
FlOrida-145 crates avocados; %
crates cucumbers; IS crates eggplant;
40 bushel baskets lima beans, via New
York city; 30 crates lines: - bushel
okra u bushel ba askets via New York
city; 36 crates peppers; 64 bushel
hampers snap beans. New York state
-12 crates brussels sprouts. North
CarOina-22 bushel baskets broccoli.
Mixed vegeta bles-34 crates.
The Washington times., 1934-12-12
IMPROVES
BUT IS STILL
IRREGULAR
BY THEODORE KOsLOW

NEW YORK, Dec. IL G.N.SO.
The curb market tightened up to.
day, following the softness which
had developed in late trading yes
terday, and while declines contin-
ued fairly we'll sprinkled through
the list, the undertone was gener-
ally steady.
Considerable interest was cen
tered on the fluctuations in Dis
tillers Seagrams, following publ.
cation of the news that the Co.
madam government was seeking
the president of the company on
fraud charges. However, he
break in the issue last week had
apparently discounted this news
for after an initial dip of about a
point to 1879. it rallied to l4A,
but nominally under its previous
close.
Leading specialties were frac-
tionally improved, including Sher-
win Williams, Babcock and Will
cox, and Swift and Company.
Utilities backed and filled list
lessly. Consolidated Gas of Bal
timore improved its position
further with gain of "a to 5634.
Atlas did better in t he invest
ment trust list, gaining 3s to
9R. Humble fell back 20 to 43B
in a quiet oil list. Metals did
little.
The Washington times., 1934-12-12
Ry Universal Service

Projected plans for reviews and
revisions of telephone ana tele-
graph rates face sharp curtail.
ment through limited funds, it
was learned yesterday.
Refusal of the budget bureau to
grant a request of the Federal
communications Commission for
$4,000 900 for the next fiscal year
threatens a serious setback to the
commissions program. The bud
get bureau cut $500,0O0 from this
figure.
Limping along on the funds al
lotted originally to the radio
commission, the communications
commission has been unable to
expand it's organization in line
with the act which created it.
The Washington times., 1934-12-12
Dec. IS Quarterly Financing
To Be Largest in Years

AS a result of the transactions
the public debt will be boosted
we'll over twenty-eight billion, an
other new high mark. The war.
time peak of the debt, August 81,
1919, was over $26,500,000,000. If
the present program is carried out
the debt by June 80, 1885, the end
of the fiscal year, will be around
$31 ,000, 100000
The foreign governments will
owe $154,729,976 on the war debts
December Is but only a payment
of $228,53G from Finland is an
ticipated. The big debtors such
as England and France will re-
main in default according to in
formation received at the Treas
ury.
There is now total of $12, ,103,-
100000 due on the debts with
$3O4, 100000 in default. The Ad-
ministration was understood to
have no present specific plans
for meeting this situation.
The Treasury now has a WORK
ing cash balance of $705,655, ,167.
This balance excludes the balance
of increment resulting from the
reduction in the weight of the
gold dollar, which amounted TO
$807, ,215,066 December 8, and
seigniorage on silver, $54,136,583.
The total cash balance on that
date was $1,567 ,006,000.
1t is the desire of Secretary
Morgenthau to keep the cash bal
ance we'll above a billion dollars
excluding the gold and silver
profits This will be accomplished
by the December Is operations.
The Washington times., 1934-12-12
Telephone Rate Inquiry Hurt
By Reduced Budget

Only half of the needed personnel
of 900 has been engaged.
In addition to an appropria-
ton for the next fiscal year, the
commission must obtain a defici-
ency appropriation of $500,000 to
carry on until new funds are
available.
Meanwhile, it has embarked
upon an ambitious program in
tended to survey and revise tele.
phone and telegraph rates
throughout the nation.
1t is estimated $750,000 will be
required for a complete inquiry
into the ramifications of the
A. T. g. T. This will be opened
next month, but its projected
scope will be materially mar.
rowed unless required funds are
made available.
The Washington times., 1934-12-12
$4,000 Shippers
Use Store Delivery

More than 10000 shippers reg
ularly use the Pennsylvania Rail
roads store-door delivery service,
George D. Ogden, assistant vice
president, told members of the Ma
tional Association of Insecticide &
Disinfectant Manufacturers. From
December, 1888. when number Of
shipments was roundly $4,000,
there has been a steady increase
to more than 100000 last Septem-
Der. Mr.. Ogden said.
The Washington times., 1934-12-12
New York AutOists'
Insurance Rate Cut

New YORK state auto owners will
be presented with a New Year
gift in the form of lowered insur-
ance rates as result of the action
of the National Bureau of Casualty
and Insurance Underwriters. The
cut which will amount to about 6
per cent follows an per cent re-
duction placed in effect last Oc-
tober.
The action which is State wide,
was taken. the bureau stated, to
bring schedules for property dam
age and bodily injury insurance on
private and public livery cars into
line with other classifications.
The Washington times., 1934-12-12
By ROBERT s. THORNBURGH

Financial transactions at the
Treasury Department on Decem-
Der IS will approximate $780,
100000, one of the largest quar-.
terly operations in recent years.
Figures available today indicated
the following items:
New security issues, including
those to retire maturing certifi-
Gates, $4,000, 100000.
Retirements in certificates,
1898, 900, 900.
Interest on the public debt,
$145, 100000.
Income taxes for last quarter of
the year, $140,000,000.
Expenditures for ordinary and
emergency purposes, $370,000,0 900.
Ordinary receipts, $17,000,000.
On December Is over $450,000,-
900 in 31s per cent bonds callable
in 1949 and maturing in 1852 will
go on the market to secure cash.
Two note issues of 11s per cent in.
tereSt for cash and exchange. and
2H per cent for exchange also
will be marketed.
The Washington times., 1934-12-12
Mining Machinery
Demand Increases

Substantial increase in the de-
mand for new mining machinery,
milling equipment and supplies is
anticipated in 1885 as a result of
an increase of nearly 80 per cent
in the value of gold mined in II
Far Western States in the first
nine months of this year over
1888, according to comment on
Western business by the Bank of
America, N. T. and S. A.
The Washington times., 1934-12-12
COTTON GOODS

NEW YORK. Dec. IL T.NS).-Ac-
tivity in the coarse yarn cloths market
today was again curtailed. but total
sales for the day were considered fairly
satisfactory. Prices continued strong
and a great deal Of business was passed
by because of the unwillingness of SELL
ers to go beyond January and because
buyers in many cases appeared unready
to pay the recent advances. While Jan
uary shipments Of most print cloths
could be had at what are now spot
Brices, many houses wanted premiums
for January and would not offer Febru-
ary Others quoted spots and January
at the same prices but they also were
uninterested in February deliveries at
this tins.
The Washington times., 1934-12-12
SETBACK
LARGER THAN
EXPECTED
Bv WALL STREET SPECTATOR

BY WALL STREET SfECAAAOh
NEW YORK, Dec. IL G.N.S0
Wall Street generally had been
expecting a reaction, but was
quite taken aback by the extent
of yesterdays setback.
The way volume picked up to-
ward the close was contributing
factor to the nervousness. Stocks,
though, have been pretty well on
the up and up for nearly two
months, so that the present de-
cline shouldn't alter the picture
if the market is inherently any
good.
It's curious that the heavy SELL
ing should come when business
is beginning to show something.
The steel production. rate is
very satisfactory, considering the
season; the auto industry is get
ting going, and rail traffic is
picking up noticeably, thanks to
the cold wave. There are
couple of unsettling influences.
The boys are wondering what
the President is going to say in
his fireside chat, and whether
he will attack the utilities. Then,
too. the SEC trading and securi-
ties registration rules are coming
out soon, and may tighten things
up a bit.
Settlement of the New Jersey
gasoline price war came at the
wrong time speculatively.
Normally this would have pro-
vided some lift to the oil shares,
which have been one Of the back
ward spots for quite a while. At
any rate, it will help the outlook
for next year.
Reports around are that Johns
Manville's business in November
was the best for this month since
1929; but this didn't prevent the
early birds from taking their
profits in the stock.
The Washington times., 1934-12-12
Chicago's Listed
Securities Slide

twenty-five represe n ative
stocks listed on the Chicago Stock
Exchange had a market value at
the close of business for the week
ended December 8 of $486, ,622, ,75O,
a decrease of $4,398.25O or 0.90
per cent as compared with the
market value of $491 ,021.O0O at
the close of the previous week,
according to Paul H. Davis and
Company.
At the close of the correspond
ing week a year ago. the same
IS stocks had a market value of
$452,272,625, indicating an in
crease during the year of $34,-
35O,125, or 7.60 per cent.