davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
BUSY WEEKFACED
|NM0NEY MARKET
U. S. Refunding and A. T.
& T. Dividend Payment
Claim Attention.
Dispatch to The Star,

Special Dispatch to The Star.
NEW YORK, April 1.-THE turn
over in the money market this month
will be one of the largest in Wall
Street history.
The biggest single payment will be
the cash refunding of $1,000, 0O0, 900
Of called fourth Liberty Az per cent
bonds. The next largest disburse-
ment will be s42.000.00 in dividend
checks by the American Telephone g.
Telegraph Co.
Both of these huge payments fall
on April Is, but, starting today, more
than one thousand corporations will
pay out to stockholders over $685.
100000 in dividends.
These sums do not include the April
1 dividend declarations by mutual
savings banks in this region, which
approximate S35.000,00 The total is
swelled further by payment of $127,-
00U, 900 in interest on various Govern
ment bonds. Interest payments on
many corporate and municipal cou-
poned securities also increase the
aggregate.
Wide Effect Likely.
Then, obligations of corporations
maturing during the month approx
mate $2l5,684 ,230, OF which $685.
goo represents industrial issues, sl46,-
2l2,9 railroad, and s32, 138, $40 public
utility bonds. Besides, there are sew
eral millions in miscellaneous NUM-
clpal maturities and $50000,0O0 OF
New York State bonds.
This record money turnover may
AFFECT the present price of money. 1t
Will materially affect many lines of
investment and trade, as MANY div
ldend and interest checks immediately
are spent or reinvested.
ms money turnover, the belief
now we'll founded remains to be seen
that the Fletcher-Rayburn stock
exchange control bill will be revised.
and expectation that the Fletcher
Rayburn new securities act of 1888
VIII be modified considerably in its
liability clauses improved sentiment
In the Street today.
Corporations facing the necessity of
meeting maturing obligations are not
waiting for modification of the new
securities act. The Long Island
Lighting Co. plans to sell $4,000 600
OF nve-year 5l2 per cent bonds direct
10 insurance companies. 1t therebv
Will follow two successful sales made
olrectly to customers last January nv
subsidiaries of the Columbia Gas &
Electric Co.
Sells Two Issues.
The latter company sold two issues
one for the United Fuel Gas Co. and
the other for the Ohio Fuel Gas Co
OF s6,O00,000 each directly to insur.
ance companies. The Federal Trade
commission regarded such transac-
IONS as private" and therefore ex.
empt from penalties under paragraph
i, section 4. of the securities act. which
states that transactions by an issller
not with or through an underwater
ana not involving any public Offering
are exempt"
Inc borrowing corporation. to get
such exemption. must tell the Fedora
Trade Commission the prospective
number of buyers for the issue The
fewer the number of BUYERS the
greater the chances are that such an
oHerlng Will not be regarded as "plb-
Ec'' po'
naturally investment bankers do
not Ike this direct issuance. as IT
means no participa tion-hence no
prof1t-for them.
Copyright. 1934J
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
BONDS ARE MIXED
AT SESSIONS END
u. S. Governments and
Some Corporates Ease in
Late Trading.
BY BERNARD S. O'HARA,
Associated Press Financial Writer.

NEW YORK, April 2.-The bond
market developed an irregular trend
in the late trading as United States
Governments and some corporate is
sues. firm during the forenoon, lost
little ground.
Treasury issues were generally l-32d
to l2-32S of point down near the
close. Treasury Alas and enc or two
of the Liberty loans were a shade
higher.
Volume continued limited all
through the corporate group, but a
few issues, like Columbia Gas g. Elec-
trio SIS, Santa Fe As. Southern Rail
way As. Baltimore & Ohio 4las. De-
troit Edison 4i2s and Bethlehem
Steel IS, sagged under Indifferent
demand
Gains ranging to around a point
were maintained by Postal Telegraph
SIS, Pennsylvania general Al IS. Ameri-
can g. Foreign Power IS, American
Smelling IS and International Tele-
phone IS.
Most of the important French and
German issues improved, but other
foreign groups were mixed. British
SIPS yielded half a point. Austrian
rs slipped of a point.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
FOREIGN EXCHANGES.
tHeported BY Chas. ., Barney O. e.,

NEW YORK. April QP-Foreisn ex.
cnange steady; Great Britain in dollars,
others IN cents
Great Britain demand, Sian; cables,
6.5s1a; cables, 6.5Sh. Italy demand, $50;
cables. $50.
Demands; Belgium, o3.37: Germany,
Sweden, s6.52; Denmark. 1888; FINLAND,
2.2S: Switzerland 1924; Spain, 1884
Portugal. 4.66; Greece, .95; Poland, 1905:
Austria. 10. 0O:; Rumania. /. o.; Argentine.
"a .26'; Brazil, S.69'; Toxic. 30.35; Shang-
hal. $500; Hongkons. 80 90; Mexico City
!silyer pesol, 21;95; Montreal in New
90 967s.
Nominal.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
S1,664,OOO NET EARNED
BY ALUMINIUM COMPANY
BY the Associated Press.

BY the Associated Press
PITTSBURGH, Pa, April 1.-The
Aluminium Co. of America had a net
income of S1,664,O0O for 1888. COM
pared with a net loss of s2,172.0O0 in
the preceding year, Chairman Arthur
V. Davis reported to stockholders of
the 1924, 100000 concern.
Sales last year were approximately
rs per cent greater than in the pre-
ceding - months and the present
outlook for sales in 1884 lis encourag-
ing" the annual report stated.
A 3712 cents a share dividend on
the S146,825 900 outstanding preferred
stock. one-fourth the regular cumu-
latlve rate, was declared for April 10.
This rate has been continued since
the second quarter of 1888.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
EMPLOYMENT TO SOAR.

GAINESVILLE, Wis. April 2 R-
with a Se-hour week and a higher
nouriy wage going into effect TODAY
omclals of the Fisher Body and Chey,
rolet assembly plant here announced
that employment would be increased
20 per cent within the next two weeks
Inc two plants now employ 1900 men
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02

FAVORABLE DIVIDEND
CHANGES RISE STEEPLY
BY the Associated Press.

By the Associated Press.
NEW YORK, April 2.-Standard
Statistics Co. reports 433 favorable
dividend changes in the first quarter
of this year, compared with 13l in
the first three months of 1893. There
were 1903 increases, 1877 assumptions,
1872 extras and 81 initial payments.
The number of unfavorable revisions,
comprising dividends decreased and
passed. dropped sharply. aggregatine
12l, compared with 625 in the first
quarter of last year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
New York Cotton
BY the Associated Press.

BY the Associated Press.
NEW YORK, April 2.-Opening adj
vances in cotton today on an accumu-
lation of holiday buying orders
met increased Southern selling and
realizing and prices declined in the
later trading. Liquidation reappeared
on the decline with demand restricted.
July sold off from 1923 to 1906 with
active positions easing to net losses
OF points. At the beginning of the
last hour the market was at or within
about a point of these levels.
Cotton futures closed barely steady. e-s
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
DIVIDEND ACTIONS DUE.

NEW YORK, April Op.-Dividend
meetings are scheduled for this week
ny the following companies, among
others: Cluett-Peabody, General Bak-
Ing, General Cigar, Loose Wiles Bis
cult, Melville Shoe and Walgreen.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
Cott0nseed Oil.

detachable cottonseed oil futures
closed barely steady: spot unquoted;
April, 5.15b; May. 5.2sb: June. 5.30b;
July. 5.50b: August. 5.50b; September,
5.72b; october. 5.75b. Sales, 252 con-
tracts, including 224 switches. Bid.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
SILVER QUOTATIONS.

NEW YORK, April R).-Bar sill
yer firm. "a higher. at 46.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
INVESTMENT TRUSTS
NEW YORK. An

NEW YORK. April oe-or.
counter market:
moon Quotations
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
TRUST COMPANIES,
Washington Stock Exchange.
SAFES
AFTER CALL.

AFTER CALL.
91lz.
Washington Rwy. G. Elec, pfd.-2 at
a..
Real Estate Mtge. & Guar. pfd-100
at 10.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
INSURANCE STOCKS

NEW YORK, April 9 P.-Over-tl1e.
counter market:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
NEW YORK BANK STOCKS
NEW YORK, April Q (P-Over.

the-counter market:
Quotations as of o'clock
Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-02
BONDS ON N. Y. STOCK EXCHANGE
Received " Direct I The Sta.

Erie - B '5S........
Erie ret 81 'E7.....s.
Erie ref bo'76.......
The Washington times., 1934-03-02
PEPCO REPORTS
REVENUE GAIN

A gain of $52,161 in operating
revenue over the same period last
year, the Potomac Electric Power
Company is shown in its January
with the Public Utilities
Commission yesterday.
The company reported. operat-
ing revenue for the month of
January, 1884, as $1.076,652. This
compares with $1,024,790 for jan
uary, 1888.
The report showed that revenue
deductions this year amounted to
1901 1888, against $483, ,459 in JAN
uary, 1888, or an increase Of $11S,-
379, leaving total net operating
revenues of $475,113. in compari-
son with $541,331 in the same
1888 period, or a decrease Of $685.
PIT.
Miscellaneous income was off
$2,755, the report showed, max
ing gross stand ct $486,901.24,
The Washington times., 1934-03-02
n, AMERICAN CD.
NET DECLINES

NEW YORK, March 2 G.N.SO.
North American Company net in
come last year amounted to SILL
551.7O2, equal after preferred div
idends to $1.22 a common share,
compared with $16.415,751. or
$2.01 a share, in 1892.
Gross earnings were $100,953,-
$50, a decline Of 6 per cent from
the $107,412,3s9 reported in the
preceding year, while expenses
and taxes were $54 ,956,121,
against $50, ,72o,18S in 1882.
At the end of 1888 current as
sets, including 25,467,536 cash,
short term investments and q. S.
Government securities, amounted
to $50, 1877, ,756 and current liabili'
ties, including accrued accounts,
were $23, ,769,316.
The Washington times., 1934-03-02

Sions.
The constant pressure which
had been dogging the list to
more than week appeared to b
absent today and stocks roS
rather easily despite the small
turnover whit1l was at the rat
of about 100000 shares for th
day.
Silver Counters Trend
The commodity markets aida
stocks in their recovery move
ment, but silver moved counter t
the trend losing about 10 points
The easiness in silver was ap
parently due to Secretary Of tn
Treasury's statement asking fu
no more monetary legislation fo
the current fiscal year endini
June 50.
Standard Oil of California
Standard Oil of New Jersey, ana
Seaboard Oil were the outstand
ing favorites in the oil shares
gaining from fractions to NOR
than a point. Several Of th'
lower.priced oils also were in de
mand.
Motors and Rails Better
An abating of the strike Situa
ton in the auto industry brough
a firmer tone into this stocks diW
sion. Chrysler and General Motor
advanced fractionally. ThiI
brought firmer tone into thu
auto accessory shares, NOTABLY
Electric Auto-lite.
The Washington times., 1934-03-02
News Reveals
Trade Gains

One corporation resumes, two
increase ind two pay extra
dividends in day. National
Dairy reports January earnings
above year ago. Century Rib
bon Mills sales AID net rise
sharply so far this year. .Bi-
luminous coal production up
for week. Prudential Insur-
ance assets reported at new
alI-time high. Diamond Match
Company earnings improved
last year. Quarterly dividend
doubled by Vortex Cup Com
pany State of Pennsylvania
sells $3O,OOO.OOO soldier bonus
bonds at record low interest
rate. J. C. Penney Company
common share net last year IS
nearly Quadrupls that af 1884,
The Washington times., 1934-03-02
Change Small
For Dollar

NEW YORK, March 2 N.N.S.C
The dollar held virtually un-
changed in dull and cOlOrlesS
trading on the local Foreign
Exchange market today, ruling
at 1881 cents in terms Of the
French franc.
Despite its quietneSA the
market displayed some nerv-
business as a result of Secretary
of the Treasury MOrgenthau'S
statement that the present
monetary policy was q day to
day affair. British pounds
sterling rose 70 cent to $5.081s.
Demand Gable
The Washington times., 1934-03-02
Listing Tighened
Bu Curb Exchange

NEW YORK, March 2-UN.SO
The New York Curb Exchange
tightened it's listing requirements,
as officials of the various ex-
changes fought today for modifi-
cation of the drastic Fletcher
Rayburn regulation bill at Wash
ington.
The new listing QUESTIONABLE
asks whether the company has
filed a registration statement
under the Federal securities; de-
tails on options, or agreements
for the sale of the security; ques-
tions on any pending litigation,
and the principal holders Of the
stock.
The Washington times., 1934-03-02

CANADA
Montreal funds In New York. = W
cent discount at $1,000.
The Washington times., 1934-03-02

ran from frac
tions to NOR
than a point
The usual bell
wethers Of tn
list includinl
United State
Steel, American
Can, New Yorls
Central, a ne
American Tel
ephone ais
gave a NOR
favorable dis
play Of strengt'
a nd rallyi
power than Il
previous SeS
The Washington times., 1934-03-02

against $555,874 in January a
year ago, a falling off of $685.
973.16. Deductions from gross re-
quired $86,016 as compared with
$76,141, an increase Of $9,877.
These deductions left a Jan
uary net income Of $400,-
834, in comparison with 1878
in the similar period last year, a
decrease Of $73,a4a.
The Washington times., 1934-03-02
OLD FAvOR|TEe.
LEAD MARKET
UPSW|NG
BY LESLIE GOULD

NEW YORK, March 2 GN.S)
The stock market gave a bette
account of itself today under thl
leadership of the oils where gain
The Washington times., 1934-03-02
WASHINGTON STOCKS
SALES

Potomac Electric 51as pfd., sd
108, 5@108.
Mergenthaler Linotype, 10@26
1O@26, 1O@2G, 10@26, 1O@26, II
@26, 1O@26, 10@26, 10@26, 100
26, 1926.
The Washington times., 1934-03-02
SPECULATION
DEFENDED BY
WESTHE|MER
BY DUNBAR HARE

Henry Westheimer, president
Of Westheimer & Co., is in town
and he has a lot Of ideas. He
The Washington times., 1934-03-02

ran over 1rOLl
Baltimore to
a t t e n d hear
ingS on the
Flecher = Ray
burn bill and
kept his local
m a n a ger, A.
Harmer r e E.
side, on the
jump showing
him around.
Like all
brokers we've
talked to, Mr..
w e S t h e | m er
ks tn e
Fletcher : Ray
The Washington times., 1934-03-02

Ca) Optional cash (b) Partly extra (cl Extra
cash td Extra in stock Iel PAID in 1899 ~ On
Ch) Payable Special " in stock (wW)
With (xw) Without warrants () Ex-dividend
Dividend rate in dollars paronthesiS (Note' Extra
dividends published through regular dividend period
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1934-08-31
Apple, Show At t: :.
Saluda Planned

SALUDA, Aug. 31.-J. A. Will
SON Polk county farm agent, has
announced that plans are moving
forward for, the apple show to be
held here later in the fall. Con-
siderable interest is being shown
bv the growers and people Of So
luda. Letters have been sent oht
to growers asking them for any
suggestions as to time Of the show
and varieties and classes for ef-
hibit.
Apple growers of the entire
county are asked to take part IN
the enterprise. The Saluda ter
ritory is naturally suited to the
growing of high quality apples.
This show should be invaluable
from an educational and advertis-
ing standpoint, Mr.. Wilson says,
declaring that it should awaken
the people of this section to its
possibilities.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1934-08-31
FEEDING THE STRIKERS

Just what will the taxpayers of the country say
if the government proposes to feed strikers who
quit paying job and force others unwilling to
quit to walk out, too? That is question which
ought to be given serious consideration by those
calling for strike of hundreds of thousands Of
textile workers.
It is true that the administration has promised
to see that no one without job goes hungry.
But would it be justified in feeding those who
had good jobs and quit them, deliberately refusing
to work? Who not only refuse to work but are
determined to stop all production in one of the
nations basic industries, thereby throwing dam.
per upon the whole process of recovery, to pro-
mote which the government is spending billions?
The Greenville News asks this question and ap-
ponds the following pertinent comment on the
strike situation:
"Shall the government pay people to carry out
a program in opposition to its efforts to restore
normally prosperous conditions?
at is to be remembered that the abor-contro-
versy agencies established by the government have
not passed on the merits of this proposed strike.
The textile labor relations board has been con-
temptuOusly seorned by the officials of the U.T.W.
They have taken the attitude of calling the strike
first and then waiting for government agencies to
make overtures to them to call it Off Can the
federal administration be expected to finance
workers who leave the jobs under such circurl.
stances ?"-Gastonia Gazette.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1934-08-31
NEWSPAPERS OPINION
REYAMPINc The NRA

ora ~ the most-shuffled packs among all the
-, If the New Deal is the MIRA. This is per-
hans natural for the organization set up to foSter
;rdrstria recovery under the Recovery Act is pos
I'LL +bs most experimental in an experimental ad-
ministration.
A. anv rate, shake-ups of personnel have been
freauept as deputy administrators came and Went
Recently rumors of change have reached 70 Ihe
anax of the organization and have had lt that
Rr;o Gen, Hugh S. Johnson, the administrator
WAS stepping out under conditions not to his Tx
;no The General of course, by his own state
nent has been going to quit for a long time But
NOW according to the implications of PRESIDENT
sooseyelt's press conference, he is not to be al
lowed to leave the administration, but will be
invited to take things more easily and share some
If his responsibility with other members of the
government whose departments are inevitably al
fected by NRA activity.
This will certainly make Tor much-needed CO.
ordination. The NRA, much as it has been cor
fused with the whole New Deal and used as
symbol Of the Roosevelt program, is in fact only
q mart of that program and is definite admins
trative agency as distinct as the Department OF
Commerce, whose building it shares; the Depart
mont of Labor whose functions it has assumed in
strikes. the Agricultural Adjustment Administra-
ton. whose program it has partly upset; the Pub
lie Works Administration, whose appropriations
were also in the Recovery Act, or the Tariff or
Civil Service Commission, with which it must soon-
or or later come in contact
The chief service the NRA can perform now Is
not to dragoon but to enlist the cooperation OF
business To this end it can set good example
by cooperating with its fellow branches of the
government Doubtless it will not be easy for
General Johnson to share the command He tried
it with cabinet committee at the outset. But it
will be well for him to recognize the time Of ia
ble-pounding tactics and onean direction is past
and that the future of the policies embodied IN
NRA lies in knitting them consistently with the
general fabric of the government and in making
them commend themselves by persusaon rather
than force to the general American public.-The
Christian Science Monitor.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1934-08-31
SUNDAY SCHOOLS, Alloy!
By WICKES WAMBOLDT.

greater than is commonly the
case.
The democracy is a high grade
government. It is for a high grade
makes a mockery Of democracy.
Every Sunday school should
keep the subject of good govern
ment and its importance constant
ly before its pupils. There is no
bigger work that the Sunday
schools could do than to work for
good government. For without
good government, it is impossible
to have good civic conditions. And
without good civic Conditions, the
commonwealth is not a fit place
in which to live.
Children brought up in a COM
munity governed immorally are
indelibly impressed, consciously or
subconsciously, by the evil in gov
ernmental character and in gov
ornamental conditions.
The Sunday schools and the
churches have been overlooking
one Of their biggest and best bets
in ignoring the vital subject of
good government.
/ am glad to observe the change
in the attitude Of the Sunday
school teacher whose case intro
duces this article, for usually
changes of this kind are not iso-
lated. are not local; they Usually
hit the whole country at once.
have reason to believe that our
entire nation is opening its eyes
citizenry. A low grade citizenry
about government. and is serious
ly and resolutely coming around
to the viewpoint that government
is not an abstract thing apart
from most Of us, to be somebody
else's business, but that it is a
part of US and is everybody's
business; and that the more every
body makes it his business, the
better and better our government
will be, and the better and better
our lives will be.
Sunday school teachers, do you
not imagine that God is interested
in government--in politics for
it is bad or good politics that
makes government bad or good.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1934-08-31
WANTS no HEAR FROM ROOSEVELT

1t would have been far more eoqsoling to bust
ness aud capital if President Roosevelt had said
himself what he got his Secretary of Commerce,
Mr. Roper, to say for him in regard to the per-
petpatop Of the profit principle and his guarantee
Of property protection. '-' "
In such case, there would have remained no
reason for doubt to exist as to the Presidents
real attitude. ~','g
Delegating such important functions, however,
stia leaves the public mind frankly skeptcal.
1t fears that Mr.. Roper, for instance, may have
talked from his own judgment rather than from
the official record. '"''~''7 . )" 49,
As when the other day Secretary Wallace pub
| heiy asserted that the American Merchant Marine
was indefensible and Secretary Roper came back
little later to emphasize the necessity of con
tinuing it and building it to even greater capacity
Julian S. Miller in Charlotte Observer.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1934-08-31
WHAT A PROFIT?

/ The government of the United States, says
Treasury Secretary Morgenthau, is going to initiate
eventually by issuing money against its profit
OF about two billion eight hundred million dollars
from taking over gold. 80 'H@
1t took gold at $20.67 for the ounce. Took it by
the power of government, forced gold owners TO
give it up at that price. %.
Then it turned around and has now come to
the point that it is selling gold but the price has
been lifted to about S35 for the same ounce
The difference is a profit, and eventually the
administration is going to spend its profit money.
(Some or most will be spent in paying bills, pay
ing the government notes or promises to pay in
form of bonds). .."..
1t is now too late for such a thing to happen.
but We wonder how it would have been if the adj
ministration had worked this imitation by summing
the price at which it took in gold to that S35 an
ounce? y.
And had left it to the individuals from whom
the gold was taken to enjoy the profit and spread
quickly into the channels of business and com
MERGE and stimulating employing by buying the
things men are employed in mkaing? -Goldsborc
News-Argus. "' Ten '.