davidaulloa/AmericanStories huggingface dataset:
Evening star., 1934-07-12
W|RERAD|O GROUP
TOMQUEST RATES
New Communications Unit
TO lnaugurate Study OF
Fairness.
b. De tmoelatsd Press

b. ne 6sssclssed Press.
A cal upon various communications
conpaniea for thsir rate schedules
preparatory to a study Of the justice
cf thnar rates probably viii be made
econ By the new Communications
C0fnmission.
Eugene O sykes. chairman Of the
Commission said yesterday siter the
preIgminary organization work OF the
new axency that as soon as the div-
sions Of the commission we're worked
out they would take up this question
The commission Is charged with
determination Of the fairness OF tele-
graph and telephone rates. Property
Valuation would enter into a decision
nf tfs Justice of the rates also. and
this will be one Of the first duties OF
Ahe commission.
Spearman Named Counsel.
{ The seven members Of the new
agency. headed by Sykes, chairman OF
ahe Radio Commission, which was
Automatically absorbed by the Com
munications Commission, had hardly
been sworn before they named Paul
y. p. Spearman, former assistant
Radio Commission counsel, as chief
Colfnsel. and Herbert L. Pettey. Radio
Commission secretary, to the same
place In the new set-up.
The commission decided 10 transfer
te lporarily the 232 employees OF the
defunct radio agency granted the Ma
tional and Columbia Broadcasting
Cos continuance Of their Canadian
outlets and adopted what Sykes called
other necessary orders.
The chairman said the commission
had not gone into the outline OF its
work. but pointed out the law re-
uHired that 1t 20 into all the various
phases Of interstate telegraph, tele-
phone and radio communication.
Sykes said he was confident the
commission could get its investigatory
work far enough along TO be able to
give Congress report by next Febru-
ary /, as called for under the act,
with recommendations for any needed
changes in the law.
Act Will Be Studied.
/ The first week will be spent in
studying the act passed by the last
congress, considering personnel and
blocking out the work of the COM
mission.
Sykes said the commission would
have virtually the same authority over
communications rates that the In
terstate Commerce Commission has
cover railroads, Thus, II a rate Is
- IA 4
to fix a reasonable" one.
Meanwhile. the work of the Radio
Commission will go ahead. with all
eases carried over and the new COM
mission substituted for the old in all
pending litigation. Reallocation of
commercial broadcasting wave lengths
is another Of the problems which has
yet TO be considered.
Evening star., 1934-07-12

Panama entertained more tourists
last year than year ago.
Evening star., 1934-06-23
CHICAGO LIVE STOCK.

CHICAGO. June 23 Up, UNITED States
Department OF Agriculture) Cattle. 5000;
compared Friday last week receipts in
Guiding approximately 15,600 Northwest
drought cattle purchased for processing
on Federal account; regular trade active
yearlinss. medium weight and veishty
lings steady to weak after losing early
advance; extreme to 10.35, new high on
crop; best long yearlings, $50: 1,O2b-
pound yearling steers. 9:35: weishty hG.
7eo5pounds. 20; bSiE Of IA steers - 81
a7.0O early in the week hishest, Of sea-
SON: stockers and feeders closed strong
to 25 higher, but IS or more under high
time; thin replacement cattle scarce: bulk:
3.50a4.25: lower grade beef cows and
cutters unevenly 25 to 80 lower: better
grade beef cows steady to Is lower; bulls
eSy sS.:D vess5s G5 sSr Ssek on ending Friday
one double from feeding station. $4,000
lambs and yeariings. 35 to 50 cents
and more higher; sheep strong to 25 up,
sorts considered; no range offerings avail
able locally this week: top native Springers,
Hs: S5 sSo s1s seaSw sna
$50 upward on most sizable lots; week's
top yearlings, 7.75 late; carrying around
day fleece bulk. 7.OOa7.50: with palmer
loads, 6.60a6.75: aged ewes. 1.00a2.25
largely: scattered breeding ewes, 800
Hogs, 5000, including $500 direct:
market nominally steady. choice kinds
scarce: occasional sales and bids. 500
downward: shippers took 100. estimated
holdover. 1000: quotations nominal.
Evening star., 1934-06-23
SECONDARY BONDS
JOIN IN RECOVERY
u. S. Governments Narrow
Prime Loans Remain
Near Peaks.
BY BERNARD S. O'HARA,
Associated Press Financial Writer.

NEW YORK, June 23.-The bond
market displayed firmer tone today,
particularly in the secondary ratings
which had been under pressure in re-
cent sessions Trading interest was
limited in all groups and volume
light
such loans as Great Northern Rail-
way AIS and Postal Telegraph 5s
came back more than point. while
fractional improvement marked Bal
timore & Ohio AIS, st. Paul 5s,
Nickel Plate AVS, and few more. IN
ternational Telephone IS and Western
Union SIS we're a bit soft.
Prime corporate issues remained
we'll I'D toward their peak levels. Con-
solidated Gas 511as. Pennsylvania gen.
eral AIS, American Telephone SIS,
Santa Fe As and others of the same
type were unchanged to shade
higher
Dealings we're small in the United
States Government division with
Treasury issues quoted 2-32 OF a
point down to 2-32 higher.
Several of the foreign loans were
forced down point or so by moder-
ate offerings. German government
SIS and rs, Italy rs and Uruguay os
responded to this trend. British 512s
made a gain Of around point.
Evening star., 1934-06-23
PACE MAINTAINED
BY RAIL L0AD|NGS
Miscellaneous Total Large
and Grain Movement
Is Increasing.
BY ]. G. DONLEY.

special Dispatch to The Star.
NEW YORK, June 23.-It had
been felt for some time that senti-
ment on the railroad shares soon
would have to be put to the test OF
less favorable traffic comparisons with
last year.
A hint of this was given by car
loading figures for the week of June
9, which showed an increase of only
80 per cent over the corresponding
week in 1888, as compared with gains
ranging between IL and l8 per cent
for the previous nine weeks. Last
March, the increases were even great
er, running as high as 38.8 per cent
in one week. for comparisons then
we're being made with the bank holi-
days" of last year.
Sudden Drop Unlikely.
But now it seems likely there will
be no sudden drop in the percent
age Of gain. Miscellaneous shipments
continue heavy and grain loadings
are rising. In fact, preliminary
estimate places the probable total for
the week ended June 16 at around
$4,000 cars, a new peak for the
year and q gain of about per cent
over the corresponding week last year.
The total for the week of June was
6l5,565 cars.
There are many who believe that
the total grain movement over the
rails will be considerably less this year
than last. The price advance has
come later in the season and crops
are short; but there is considerable
carry-over Of grain in farm eleva-
tors, which now Is seeking market,
along with new crops. It seems
probable, however, that a heavier
movement at this time will be at
the expense Of shipments later in the
year.
OF greater significance to earnings
of the railroad industry Is the move
, ment of miscellaneous freight and
merchandise in less than carload
lots In the first % weeks of this
year, there was an outstanding gain
in miscellaneous freight, which moves
under profitable tariffs.
Reflect Trade Gains.
Loadings of this classification have
been 5.016,763 cars against 3,999 900
for the period last year, and the gain
in merchandise L. c. L. has amounted
to nearly $4,000 cars. These in
| creases are reflection of the revival
in general business.
Latest complete earnings state
ments of the roads fully reflect the
heavier traf1c movement so far this
year. For the month of April, gross
revenues of all roads were up some
l8 per cent, while net earnings in
, creased more than rs per cent as
compared with last year.
But the roads still have a long way
to 60, if they are to regain prosperity.
, April net operating income OF $32,-
| $50, 900 was well above the month for
either 1888 or 1882, but it compares
with about s60,000,0O0 in 1880 and
SOS, SOC, 900 in 1929. And even 1929
wasn't a big railroad year in COMPARE
son with, say, 1928.
| (copyrisht 1934J
Evening star., 1934-06-23
FIRMS IMPROVE
CASH POSITIONS
Bonded Debt of 321 Large
Companies Drops Far
Below 1923 Peak.

An analysis of the financial posi-
tions of 32l large industrial corpora
tions in this country, prepared for the
1884 edition of Moody's Industrial
Manual now being published, reveals
that throughout the depression these
corporations have consistently I'M
proved their cash positions in rela-
ton to total current assets. The
number of corporations involved in
the study includes every industrial
corporation for which comparable
data are available back to 1926, the
first year of the study.
From 1929 through 1898, cash and
marketable securities Of the 32l cor
porations (exclusive of cash in closed
banks, which was eliminated from the
study decreased from $3,O26, ,000, 900
to 2,644, ,000, 900, or 1876 per cent. At
the same time, notes and accounts re-
ceivable fell from s2,256, 900 900 to ST.
AIT 900, 900, or 37.2 per cent, while
inventories declined from s4,784, ,000,-
900 TO 1888, ,000, 900, or 29.2 per cent.
inventories Decline.
The net result was that, in relation
to total current assets, cash rose from
1918 per cent to 1886 per cent and
receivables fell from 22.16 per cent to
1895 per cent. The percentage of
inventories to total current assets,
however, exhibited only a mild decline,
falling from Al per cent to 1881 per
cent. Total current liabilities declined
from $2,088 ,000, 900 in 1929 to sl,301,-
GOO, 900 last year, drop of 37.7 per
cent. The current ratio" that is, the
ratio of current assets to current
liabilities, rose from 487 in 1929 to
SIS in 1888.
THE total bounded debt Of the cor
porations involved in the study
reached peak In 1928 at s2,774,OOO,-
000," says Moody's. From then it has
declined consistently to s2,156,000, 900
In 1888, drop of 223 per cent. The
decline since 1929 has been 14.9 per
cent.
In 1888 reversal of trends in
effect since 1929 was evident in most
AOCulo, III LCA1CCL4OIl VI ulCIGdSG III
business activity which occurred last
year. Thus, as compared with 1882,
inventories of the 321 companies rose
from $3,o91 ,oo0, 900 to s3,3s8 600, 900,
or 9.6, and receivables from S1,332,-
100000 to $l.4l7 10000 or 81 per
cent. Cash declined slightly from $2,-
73l 100000 to 1854, 100000, or 80
per cent, rejecting largely accumula-
ton Of inventories, and the current
ratio dropped from 6.41 to SIS.
Becomes Independent.
THE exceptionally strong cash DO
sition which our large corporations
have been able to maintain in spite
Of the depression and in spite of the
numerous bank closings last year, re-
vealS the extent to which industry
has become independent of the bank
ing system" concludes Moodys. This
trend has been in evidence for some
years past. 1t furnishes a partial ex-
|, PLANTATION of why bank loans have
| failed to increase in the past year de-
spite the sharp rise in industrial ac-
tivity. 1t also indicates that the act
providing for direct loans to industry,
recently signed by the President, will
affect primarily the smaller COM
panies. as the large corporations are
apparently quite adequately provided
with working capital.
Evening star., 1934-06-23
New York Cotton
BY the Associated Press.

By the Associated Press
NEW YORK, June 23.-Cotton fu-
lures opened steady, 2 to 4 higher on
steadier Liverpool cables, continued
dry weather in Texas and trade buy
ing. July. 1892; october. 1921; De-.
cember, 1891: January 1887; March,
12.49; May. 1887.
July liquidation was active, but the
demand for the near position was en-
couraged by a widening of the differ
ences between months, and there was
a good deal of switching during the
early trading. Buying on the Liver
pool cables and weather news absorbed
the selling of later deliveries and. while
the volume of business tapered on
somewhat after the call. prices held
very steady during the first hour. with
active months Showing net advances OF
4 to 8 points. October contracts sold
up to 1924, or about 10 points above
the low price touched in yesterdays
late trading. The exchanges reported
this morning included July-October at
20 to 29 points, compared with recent
differences ranging from about "a to
26 points. Liverpool cables attributed
the steadiness there to trade calling,
Bombay buying and local support in
f1uenced by continued unfavorable
Texas weather reports. Houses with
Liverpool Japanese and continental
connections we're among the early
buyers here.
Evening star., 1934-06-23
OIL SHARES TURN
UPWARD ON CURB
Other Groups Are irregular,
Specialties Improve in
Dull Session.
BY G. A. PHILLIPS,
Associated Press Financial Writer.

NEW YORK, June 23.-Oil stocks
reversed their recent trend and showed
small gains on the Curb Exchange to-
day. Brokers were of the opinion that
moderate amount of short covering
in preparation of the week end ad-
journment was a contributing factor
in the upturn. Other sections of the
list were irregular. specialties making
slight headway, while other groups
were inclined to drag. Trading was in
different.
International Petroleum and Stand
ard OIL OF Indiana were higher, and
such issues as Humble Oil, Creole Pc
trolcum and others of the Standard
group, reflected the absence of selling
pressure by holding close to the pre-
vious closing figure.
Fisk Rubber and Wilson Jones ad-
vanced a point each and other shares
gaining slightly included Consolidated
Gas Of Baltimore, Electric Bond &
Share, Hiram Walker and Pioneer
Gold
Great Atlantic & Pacific yielded
more than a point, Todd Shipbuilding
was down 2, and such stocks as Amer
ican Cynamid "B," Bunker Hill s,
Sullivan, Pittsburgh Plate Glass, Swift
g. Co. and Aluminium Co., were small
fractions lower.
Evening star., 1934-06-23
Chicago Grain
By the Associated Press,


CHICAGO, June 23.-Responsive
largely to authoritative reports show
ing huge shortage OF European crops
as compared with last year, grain
prices here advanced early today.
There were also disquieting advices of
probable crop failure In Southeastern
Saskatchewan Province, Canada.
Opening 4 to cent up, wheat after
ward rose further. Corn started at
1s-% gain, and subsequently held near
the initial limits.
Jumps of prices took the wheat
market soon to about 2 cents above
yesterdays finish. For the time being
traders attention focused mainly on
estimates that Europe's 1884 grain
crops, including those of Russia, woulc
be !. 400, ,000. 900 bushels smaller than
in 1888. European estimates suggested
that almost worldwide drought had
materially changed the market outlook
Supplementing the bullish effect OF
European crop advices were forecasts
Of 10000, 900 bushels loss in Southeast
Saskatchewan wheat, as compared
with recent prospects. Drought was
held responsible, Just as in the case
Of European countries and of the
United States. Liverpool dispatches
laid stress also on reports Of severe
drought in Eastern Australia. Corn
and oats rose not only because OF
wheat strength, but owing to assertions
Of a leading crop expert that corn
destruction by chinch bugs this season
would be almost continuous through
out the entire 1884 growing period.
Provisions went up with grains, not
withstanding downturns of hog values.
Wheat futures purchases yesterday
totaled 100000 bushels, corn, IA
$4,000. Open interest in wheat wa,
LOG. .6s1 900 bushels and in corn
59, ,998 900.
Evening star., 1934-06-23
Brokers' Comment
By the Associated Press.

By the Associated Press.
NEW YORK, June 23.-Commis-
sion houses generally forsee q rally In
the stock market.
Clark, Childs & Keech-wouid
make quick turn trading purchases on
further weakness.
Cassatt g. Cove think the mar
ket is close to an at least temporary
reversal and would, therefore, buy
stocks for a turn.
Fenner & Beane-We believe the
reaction has about run its course and
would buy stocks in anticipation OF a
rallying movement Of worth while
proportions.
Hardy & Cove would not expect
too much of any rally that develops at
this time, nor would we be inclined to
reach for stocks in the event that they
are not available on weakness.
J. s. Rache g. Coon any further
weakness. the assumption Of trading
commitments for q rebound would
appear desirable.
Evening star., 1934-06-23
SHERRILL is ELECTED
BY PIEDMONT MILLERS

By the Associated Press.
ROANOKE, Va, June 23.-Karl
Sheriff. of Statesville, N. c., was
elected president of the Piedmont
Millers' Association, succeeding E. C.
Wine of Harrisonburg, at yesterday
mornings session of the association S
annual convention, which is being
held at Hotel Patrick Henry here.
Other officers elected were: G. H.
Walden. Gretna, first vice president;
w. w. G.. Smart, Shelby, N. C., Sec
ond vice president, and S. F. Poin-
dexter, Richmond, reelected secre-
tary.
Members of the Executive Commit
tee elected are: c. B. Fretweell, Spar
tansburg, S. c.; E. c. Wine, Har-
risonburg; C. E. Worley, Bluff City
Tenn; James A. Sloan, Mount Ulla,
N. C.. and E. c. Fockler. Richmond
Evening star., 1934-06-23
CHRYsLER EXPORTS SOAR.

NEW YORK, June % (P.-Chrys-
Ter Export Corporation has shipped to
its overseas distributors more cars and
commercial trucks so far this year
than in the entire year 1888. it was
announced Up to June IS shipments
abroad totaled 22,778 units, compared
with 22,730 shipped in the full
year 1888. Sufficient orders are now
on hand. it was stated. to insure con-
tinuation Of peak shipments.
Evening star., 1934-06-23
NET DEMAND DEPOSITS
OFF SHARPLY IN WEEK

By the Associated Press.
Net demand deposits in weekly re,
porting member banks in the centraI
Reserve cities of New York and Chl-
caso showed a sharp loss during the
week ended June 20, as the change
was measured by the Federal Reserve
Board. In the table that follows the
total of such deposits is given for COM
parable periods, as announced by the
board:
Week ended June 20, S7,36l ,00O,0
Previous week, $7,576, 900.
Same week last year, s6,478, 100000
Evening star., 1934-06-23
LOWER NET REPORTED
BY NATIONAL POWER

BY the Associated Press.
NEW YORK, June 23.-National
Power g. Light Co. reports for the
year ended December 81, 1888, net in
come of $6.615.768, equivalent after
preferred stock dividends, to 80 cents
a share on the common.
This compares with 1882 net income
of $685. ,780, or $1.26 a common
share.
For the IL months ended March 81
net income amounted to s6,677, ,635,
against $7,77o.465 for the period ended
March 81, 1888.
Evening star., 1934-06-23
DOLLAR RULES STEADY
IN LONDON DEAL LINGS
Ry the Associated Press.

By the Associated Press.
LONDON, June 23.-The United
States dollar closed today at 5.031a
to the pound, unchanged from yester-
days close and today's opening.
The French franc closed slightly
easier at 1887 to the pound compared
with yesterdays close of 1881.
The price of gold was unchanged
at 1873 shillings one penny (s34.70
a fine ounce and an amount valued
at f36,00o ($181 ,260) was purchased.
Evening star., 1934-06-23
STORE SALES RECEDE.

NEW YORK, June % R.-De-
partment stores sales in the metro
politan area of New York showed g
decline of 0.2 per cent, excluding
liquor sales, for the first two weeks ir
June, compared with the same period
a year ago, according to reports te
the New York Federal Reserve Bank
Including liquor sales, however, there
was an increase of 1.9 per cent.
Evening star., 1934-06-23
TOMATO PLANTS SET.

BERKELEY SPRINGS, w. Va, june
23 Especially Setting of tomato
plants for Morgan County's annual
yield is under way here. About the
same acreage will be set as last year
when the crop canned out" approx
mately the equivalent of 100000 cases
of No. IS, of quarts.
Evening star., 1934-06-23
NEW YORK PRODUCE.

NEW YORK. June 23.-Butter. lO.6O7,
nrm prices unchanged
Cheese. 322, ,1O6, steady: prices un-
changed
Dressed poultry steady. prices un-
changed Live poultry nominal, no
quotations.
Esgs, 23,s65, steady. Mixed colors.
dlrties, No. J. 42 pounds. l4A; other
mixed colors unchansed
Evening star., 1934-06-23
Cottonseed Oil.

Bleachable cottonseed oil futures
firm; spot, unquoted; June, 5.50b;
July, 5.56b; August, 5.58b; September
5.75b; October, 5.84b; November, 5.92b;
December, 6.03b. Sales, eight con-
tracts, including two switches. bid,
Evening star., 1934-06-23
N. Y. EXCHANGE BONDS
Received BY Private Directt o Evening Star.
U. Q. GOVERNMENT BONDS.

High. Low. sCloss'
Federal Farm Mtg
Loan Ss 40. 10012 100l2 100 IL
Federal Farm Mtge
Corpn az "a. 101 Is 101 16 1Ol IL
Home Owners Loan
Corpn 3s '52... 1901 lO0l IL lool4
Home Owners Loan
Corpn d ST.. 100 26 100 25 10o26
LIBERTY BONDS.
1st CIV 4Ks 32-47. 1884 103 103
9TH Az 8 $685.. 103 % 10319 l03 IL
Ith AVS 1888 cid 101 20 101 II 1012 20
Evening star., 1934-06-23
CHICAGO STOCK MARKET

CHICAGO. June 23 R-Following is the
complete offcial list Of transactions in
stocks on the Chicago Stock Exchange
Evening star., 1934-06-23
N. Y. CURB MARKET
Stock and Sales

Stock and Sales
Dividend Rate Add 90. High. Low. Close
McColl Tint fz0c) zoos 13h 1871 1871
q Rnfflfnnr q
Evening star., 1934-06-23

Spicer Mfg Preference 75c @ 7-3 7-16
Declared from accumulated surplus.
Represents first payment on present cap
ttal stock. Previous dividend rs cents FEB
ruary, 1881, on old capital stock OF $50
par.
Evening star., 1934-06-23

1925 average equals 100h
tCopyright 1894, Std Statistics Ca
Evening star., 1934-12-13

Mrs. Z. p. Orr, secetary and treas
urer, and Mrs. Fred Ball and Mrs.
William Winston, leaders.
Evening star., 1934-12-13

City oil millionaire-were being guard
ed by Federal officers.
Agents who disclosed the threats
would not say whether they came from
friends of kidnapers already convicted
or from members Of the abduction
gang who so far have evaded justice.
A report of local master mind"
the finger man" who arranged the
details Of the kidnapping, gained
credence as the word went out that
the grand jury would search deeply
into this phase of the investigation.
It was learned that Feldman, o.
year-old step-son of Albert Bates, one
of the convicted members of the gang,
is booked at the jail under an assumed
name and has been spirited out for
questioning several times since his
arrival here.
Evening star., 1934-12-13
|URSCHEL SUSPECTS
GET DEATH THREAT.
U. S. Agents Refuse to Say
if Gangsters at Large
Gave Warnings.
BY the Associated Press.

BY the Associated Press.
OKLAHOMA CITY, December 49,
Threats of death by the underworld
harrassed four Federal prisoners as
they prepared to testify before grand
jury today in the latest chapter Of the
Urschel kidnapping case.
The four-Edward Feldman, Clara
Feldman, Alvin H. Scott and Marga-
ret Hurtienne, brought here from
Oregon after the discovery Of addi-
tional portions of the 5000. 900 ransom
paid by Charles F. Urschel, Oklahoma
Evening star., 1934-12-13
CONVICTS TO GIVE SAWS
AS SECURITY FOR PARTY
Warden Will Play Santa Claus
Only if Inmates Prove
They're "Good Boys"

By the Associated Press.
JOLIET, ILL.,, December 13.-Warden
Frank D. Whipp has promised to play
Santa Claus at Statewide Penitentiary
provided the 5000 inmates promise to
be good boys and slip no dangerous
tools in their stockings.
AS proof of their good faith the
5000 were asked yesterday to turn in
anonymously such contraband as
knives, forks, chisels and saws, in ex-
change for merry Christmas party.
In the yard of each prison, the new
and the old, Warden Whip said, will
be placed a large box wherein prison.
ers may deposit the forbidden imple-
ments unobserved.
Evening star., 1934-12-13
GIRL SLEDDER INJURED
WHEN HIT BY TRAILER
Treated at Emergency Hospital
After Being Struck While
Crossing Street.

Elizabeth Gobbett, IL. 424 Tenth
street southwest, was seriously injured
in the seasons first reported shedding
accident when struck by the trailer
of an automobile while she was pull
ing her sled in the street near her
home.
At Emergency Hospital she was
treated for an injury to the pelvis and
was under observation to see whether
she was injured internally.
Edward Watson of Clarendon, Va,
Evening star., 1934-12-13
Benefit Dance Tomorrow.

A dinner dance for the benefit of
the INDECENT children at the dental
clinic of Children's Hospital will be
given at the Army, Navy & Marine
Corps Country Club tomorrow night
by the District of Columbia Dental So
ciety Women's Auxiliary,
Evening star., 1934-12-13
Women Protest Edicts.

Many women in China are protest.
ing against the new edicts banning
unstockinged legs, hpstick, permanent
waves, low-backed gowns, mixed bath
ing ard mixed dancing.