davidaulloa/AmericanStories huggingface dataset:
Evening star., 1934-09-29
NAMED S. E. C. ADVISER.

NEW YORK, September 70 (P.-
Frederic A. Tilson, who was Third AS
sistant Postmaster General during the
Hoover administration, has been re-
tanned as accounting adviser to the
Federal Securities and Exchange Com
mission.
Evening star., 1934-09-29

Bleachable cottonseed oil futures
closed steady; spot unquoted: October,
S.o0b; November, 8.00b; December,
sos; January, s09b; February. Blob;
March, s.24; April, s24b. Sales, So
contracts. Bid.
Evening star., 1934-09-29

DIVIDEND rates In dollars based on last
quarterly semi-annuaI payment tPartly
extra. tPlus 81 in stock Payable in
cesh or stock Payable in stock Plus
~ in stock sP.us 6< In stock Pay
aoie In script. Plus 81 IN stock Paid
TINS year-no regular rata. m Accumulated
olvioenos paid this year. Plus l09 IN
stock. Paid last year-no regular rata.
Companies reported in recefvershh
Evening star., 1934-09-29
Cash Grain Market.

Cash Grain Market.
Wheat, No. 3 red, 1.04h: No. 2 hard.
104H. Corn, No. yellow, 81; No. l
white, 86Ha1a. Oats, No. 2 white, 81.
No rye. Barley, S5al. 20. Timothy
seed, 16.50a17.50 per cwt. Clover seed,
15.0Oal9.50 per cwt.
Evening star., 1934-09-29
Account ENDANGERED.

Suppose you own a lot of securities
noted for their wide movements. and
suppose something happens-news af-
fecting markets generally or the par
ticular securities you hold. Your ac-
count, because of the wide moves in
your securities, might be impaired.
The fact that you have stronger"
or safer" margin might well hull you
into false sense of security not JUS
tilted by market facts.
If your securities are noted for their
narrow moves, you are better off un-
der the old rules. in that you did not
have to put up as much money as at
present. though actually such an ac-
count might be safer" today.
Copyright, lo34J
Evening star., 1934-09-29
CHICAGO PRODUCE.

ua2s weekly sverase equals 1909
(Copyright. 1884. by Moody Sd
Evening star., 1934-09-29
HAIL
MARGINS RULING
Intricate Phases Promise
Big Fees From Puzzled
Brokerage Firms.

Special Dispatch to The Star.
NEW YORK, September 28.-The
margin requirements announced by
the Federal Reserve Board were hailed
with pleasure by financial lawyers, as
the many intricate phrases employed
promise them much in the way OF
fees from perplexed banking and
brokerage houses.
While studying these requirements,
most brokers are inclined to be slow
in forming opinions about their
probable effects.
After October IS there will be two
classes of margin accounts-old and
new. The old accounts. If they are
now undermargined. may remain SO.
though the extent of undermargining
may not be increased. The new &C
counts must conform to all Govern
ment margin rulings effective october
Is and thereafter.
Based on Market Value.
Those who believe the new rules
will reduce the volume of security
trading emphasize that up to now
margins were based on debit balance.
but hereafter will be based solely on
the market value of securities.
Suppose Dupont is selling at $91 a
share. A buyer Of 100 shares of Du-
pont, under present Stock Exchange
requirements, would have to put up
only $2.l00. as his broker would lend
'pspssu ooI'6s sul 10 OO0'Ls mIu
Under the new rules, again assum-
ing Du Pont is selling at $91 share,
the marginal buyer must put up
$3,100 of his own cash, since the
brokerage firm cannot lend him more
than $4,000 on this s9.l00 purchase.
Will the new marginal requirements
make trading safer? There can be no
definite answer to q question that
involves so many human factors.
Many persons feel that large margins
necessarily are safe margins. 1t was
largely margined accounts, however,
that Jared worst in the 1929 crash. be-
cause such traders looked at their
comfortable" equities rather than
prospective developments and, as a
result, lost far more than the thinly-
margined traders, who were sold out
at once.
Evening star., 1934-09-29
BANK RESERVE RATIO
UP SLIGHTLY IN WEEK
Y the Associated Press.

BY the Associated Press.
The ratio of total reserves of the IL
regional banks to deposit ana note
liabilities combined showed a slight
rise during the week ended September
26. as the change was measured by
the Reserve Board. In the table that
follows the reserve ratio is given for
comparable periods, as announced Dy
the board:
Week ended Sept. 26 ....701 per cent
Preceding week 700 per cent
Same week last year 6S L per cent
Evening star., 1934-09-29
CHICAGO STOCK MARKET

CHICAGO, September 29.-Follow-
ing is the complete official list of
transactions in stocks on the Chicago
Stock Exchange today:
Sales STOCKS
Evening star., 1934-09-29

vw-With warrants. Xw-Wnhoue war
rants. n-New. wi-When issued. st
tstpl-Stamped.
sNesotiabiiity impaired BY maturity.
sBonds fully listed on the Curb Exchange;
others are dealt In % unlisted issues. tCon.
panies reported In feceivershtp.
Evening star., 1934-09-29
Cottonseed Oil.

Spot steady: middiing. 1870.
Nominal.
Evening star., 1934-09-29
Canadian Marconi.
Carib Syndicate.
Cent States Eelec..

Cities Service. 80.
Cities Service pf. =.
Comwlth&So war.
Columbia Gas &
Elec CIV pf(5)...
Cons Aircraft. 80.
Creole Petrol'm
Cresson Con 12c)..
Crown Cork Int A.
Cusi-Mexicana M -
Evening star., 1934-09-29
N. Y. CURB MARKET
Received sy Prv.s. Wire Direct 70 Tn. Evening Sta.

Stock and Sales
Dividend Rate. Add 90. High Low. Close
McWillms DR. ~. SOS 22 22 %
Middle States
Psrorm vtctA). 2 IN IN IN
Middle States
Petm vic (B) s L II =,
Mid West Ut tr)... 2 n n 4
Mock Jud k75c).. IL IL IL
Montgom Ward
(A)(m10h).. los 116 116 116
Evening star., 1934-09-29

Baumann CD pf. &.
Blue Ridge pf(a3)
Evening star., 1934-09-29
U. s. GOVERNMENT BONDS.

High. Low. Clcsa
Fed Farm Mtg
Loan 50 '4s.... s67 S6S sof
Fed Farm Mtg
Corpn 3As'e4. 1924 1921 1924
Home Owners Loan
Corpn "a s '49. $40 s35 s3S
Home OwnLoan
Corpn 3s'52... s6l1 s6S s6s
Home OwnLoan
Corpn Is '61... S6s 964 s6s
LIBERTY BONDS.
shs 1s31-47..... 1o3 l02 30 103
LIST CIV ans s1-47. 1892 10Sl1 103 IL
Sth AZ . 33-SS. 1885 1885 1O3
9Th <As 33-3S cid 100 l3 100 II lOO IL
Evening star., 1934-09-29
Distlllers Crp-Sea

Elec Bond&Share >.
Emp G&F 81 pf...
Europ Elec
Ltd (A) (60c) -.
Equity Corp'n. .,
Evans Wall Lea d =,
Evening star., 1934-09-29
n. Y. EXCHANGE BONDS
Received ;, rriv... w,r. Direct :. n. Evening sts.

L v Pa con 4s zoos.
l. v Pa con " 8 zoos
Ligg & Myr 7s'<&...
Losw's IS '41.......
Lorrillard Is s'44...s,
La & Ark IS 'ss.....,
Lou & N unif 4s'<0. q.
Lou d " ANS c 2003.
Louiv & N s. 2o03. ..
Evening star., 1934-09-29
FEDERAL LAND BANKS
NEW YORK. September 30 Pp.-Fee
eral Land Bank bonds:
DIVIDENDS ANNOUNCED

NEW YORK September 9a.-Dividends
declared compiled by Standard Statistics
CorpJ:
Evening star., 1934-02-25
CAROLINAS BUCK WAGE SCALE
Federal Pay Creates Labor
Problem Among State
Farmers.
Ipecial Dispatch to The Star.

Special Dispatch to The Star.
COLUMBIA, 8. c., February pa
resolution in the House Of Represent
atives Of South Carolina declaring
that more harm was done to morals
than good to stomachs and calling
upon the Federal Government to re-
duce to Is cents an hour the Federal
wage scale was killed by a decided
vote.
The declaration Of those who killed
it was made and largely sustained
that but for Federal aid many persons
in this State would have suffered for
the necessities of life.
The resolution probably had behind
it the resentment of a large class OF
people in the State who have found
that the wage scale set by the Fed
eral Government has materially af-
fected them In making contracts with
Negro laborers. The wage scale for
Negro laborers has never been much
more than half that set by the hour
by the Federal authority for Negro
labor and very much more than twice
that set for Negro farm labor. The
relatively high wage scale set by the
Federal Government has drawn the
prophecy that it would materially
reduce farm labor. and do as much to
reduce the cotton acreage as any,
thing else, and would be real factor
IN cotton reduction acreage.
Evening star., 1934-02-25
Northern State Concerned
Over Air Transportation
Situation.
Special Dispatch to The Star.

RALEIGH, NJ c., February "a
North Carolina Is disturbed over the
air transportation situation, but there
is much hope that the service will
be restored.
AS matters now stand, the new
$250,000 airport at Raleigh is not
being used at all. The Army, which
prefers the Army field at Fort Bragg
to the one at Raleigh, has elected
to pass by the city in flying the
mail and the Eastern Air Transport
Co. has also eliminated Raleigh as
a stop in curtailing its passenger and
express service. Both the Army and
Eastern Air Transport planes are
still using the High Point
Winston-Salem field, but with the
service greatly reduced.
However, the State has several new
airports built, or being built, with
c. W. A. funds, all Of which were
projected on apparently well founded
hopes of obtaining airline service.
Those hopes have now been tenn
porarily blasted.
But while North Carolina is dis
appointed, there is little disposition
in the State to criticize the Presi-
dent for his drastic action in can
ceiling airmail contracts. Sentiment
in the State is still Overwhelmingly
with the President, the burden Of
proof being upon those who differ
with any q bis policies.
Evening star., 1934-02-25
Ohio Governor Not to Demand
Resignation of Utility Head
Believes Charges of ~Prejudice'' Are
Not Sufficient to Warrant Replac.
ing of Chairman E. ]. Hopple.

mainder Of the year. Not even q
good guess can be made as to the
amount that will be required an
nually to meet the legal demands
upon the new law.
DR.. Carl Watson, the new Democratic
State chairman. is exercising his
powers to Straighten out tra-party
controversies with a view to present.
ing a solid party front in the cam
paign to be waged this Fall. He
called the leaders Of the opposition
to Walter F. Heer, chairman of
Franklin County. before him this week
not push their demand for Hers
retirement at this time.
Hugh E Addison. who is now a
Representative for this county in the
Legislature, has announced his
candidacy for the nomination for
Congress in opposition to Congress
man Arthur P. Lanneck, evidently
expecting support of the element of
the party here who resent the Con-
Mccoy for the Columbus postmaster
bllC Va k1lC
county committee.
The Legislature appropriated S.
900 900 last week for the aid of weak
school districts, eliminating the item
of s2000,000 for private schools
(parochials). The only expression re-
garding this action coming from
Catholic authorities in the State is
that they felt that their request was
just. but they would carry on with
out the help asked for, and that there
would be no recriminations from their
side.
In case arising here it was found
this week that by reason of a Joker
in the new State liquor law, it will
be practically impossible to convict
for bootlegging. Whether the joker
got in by mistake or intention is not
known, but it will make little diff
ference, for the Legislature will be in
special session again on March and
can readily remedy the defect.
Evening star., 1934-02-25
WEST VIRGINIA
LOANS MAY STOP
State Legislature Is Given
Federal UItimatum to
Meet Relief Funds.
BY ROBERT ii. HORNER.
.-;.t yOi..otok e. Tha Gtnr

CHARLESTON, Va, February "a
West Virginia's drain on the National
Treasury during the last 18 months
of the depression emergency has
reached a total of s27, 100000.
This figure was made public in a
letter to Gov. H. G. Kump by William
N. Beehler, State C. w. A. admins
traitor. notifying him OF National Ad-
ministrator Harry L. Hopkins ulti-
matum that financial assistance to
the State would end at the close of
February with the exhaustion of the
last grant Of s450,0O0, unless, in the
meantime. the Legislature gave def
mite assurance that it would appro-
pirate s250,000 a month for relief.
The money coming to the State,
Mr. Beehler's letter said, was distrib-
uted through the r. F. C. and F. E.
R. A. in the amount of S19.700, 900
and through c. w. A. S8,000,000.
Mr. Behler's letter caused the Gov
ernor Immediately to request the Leg
islature to speed up action and make
the appropriation requested or else
In West Virginia.
On two former occasions, Mr. Hop
kins has threatened to withdraw Fed
eral aid from West Virginia because
the State was failing to contribute
its share, but changed his orders due
to the then complicated tax situa-
ton, which had all local and State
revenues tied up under legal COM
plications.
The Supreme Court, however, re-
heved this difficulty two weeks ago by
upholding the property levies act and
left the Legislature free to proceed
with raising needed additional rev.
enues.
Business unrest has developed In
many sections of the State as the re-
suit of the Legislatures first attempt
to bring out tax bill which failed to
include an estimated amount for re-
lief The bill would lay a tax of five
eighths of per cent on the gross as
sets of all corporations, associations
and partnerships. Because they contend
the bill, If enacted into law, would
collect from them far more than its
trainers estimated, representatives of
the coal industry, of manufacturers
and of all other kinds of business
crowded into Charleston and protested
that imposition of the tax would place
an unbearable burden upon them. In
dustries would be forced to leave the
State, their representatives contended.
As result of the uprising of busi-
ness interests against the bill, it has
virtually been shifted to one side.
Meanwhile, an undercurrent Of talk
in favor of a consumers sales tax has
been growing and this seems to be the
only way out Of the tax dilemma.
Evening star., 1934-02-25
10000 WORKERS
OUSTED UNDER
C.. ". 4. RULING
Indiana Still Has
88,5OO Persons
on Rolls.
Special Dispatch to The Star.


INDIANAPOLIS, Ind, February
24.-Reduction of c. W. A. rolls in
Indiana began this week when 10000
persons were dropped upon orders re-
ceived from Washington.
The beginning of rehabilitation,
however, still leaves $500 persons at
work upon public projects. The high
point of employment was reached
shortly after the first of the year
Since then William H. Book. director
of the State Department of Public
Welfare. in charge of the c. w A.
mobilization, has noted a steady ab-
sorption Of workmen by revived in
dustries.
In cutting down the number Of C..
w. A. workers each of the 90 coun-
ties was called upon to accept pro-
portionate reduction. In some places,
however, where extremely needful
projects were under construction al
lowances were made by the director.
Book and his C. w. A. chiefs al
ready are at work upon plan that
can be called into service if the c. w.
A. army eventually is disbanded. He
believes that some sort of system,
either financed entirely by the Federal
Government, or combination of
State and county effort, will be neces-
sary in order to care for those who
cannot find their way gack into gain
full pursuits next Summer.
The director takes the position that
under modern conditions each COM
munity will always be confronted with
an unemployment problem and that
therefore some preparation will have
to be made for employment upon pub
lie projects. He is opposed to re-
turn to the township poor relief plan,
which was little better than dole of
food and thinks that the spirit of the
c. w. A. should be carried forward.
Books plan does not contemplate as
high wages as was paid under the
c. w. A. plan because, he contends.
small business enterprises cannot
compete In the present reconstruction
period.
Evening star., 1934-02-25
DELAW4REF4RM
LABOR SCARCE.
DUE TO C.. ". Il.
Farmers Protest to
Governor, on Help
Shortage.
Special Dispatch to The Star.

Special Dispatch to The Star.
WILMINGTON, Del, February "a
Because the rates of pay on Civil
Works Administration projects and
the amounts paid the unemployed on
direct relief in Delaware are at such
high> level, farmers in the State
have protested to Gov. c. Douglass
Buck that they are unable to hire
adequate help to handle their crops.
At a conference with the Governor
so representatives Of the farmers de-
manded that some steps be taken to
correct this situation before their
Spring planting time. Most of them
indicated that unless this is done
they will not be able to operate their
farms this year.
The Governor was told that the c.
w. A. pays workmen more in two or
three days than a farmer can pay
hand" in a week and that ordinary
farm labor Is stunning employment
in the fields, where the hours would
be longer and the work more continu-
Gus than under the Government prof.
ects. Farm hands, they pointed out,
are grasping the opportunity Of work.
ing fewer days a week and earning
more away from their usual work.
They also pointed out that under
the State relief law that II an unem-
ployed man took job on farm he
is Immediately cut of from relief,
with possible dificulty of being REIN
stated if he should again become un-
employed.
At the Governors suggestion the
situation will be placed before the
various Oranges Of the State at once,
with the plan Of outlining program
helpful to the farmers in time to
place 1t before the State Legislature.
which yoconyenes on March G.
Evening star., 1934-02-25
PARTY SPLIT is FEARED
NPENNSYLVANIA REVOLT
Fight Against Joseph F. Cuffey, Candi-
date for Senator, Threatens to Spoil
Democratic Harmony i'm State.

cratic State Committee indorsed at
Guffey's bidding is new ticket of
considerable strength. 1t also has the
backing Of a hodge-podge Of Demo-
cratic elements whose common ground
In the group is Sedgwick Kistler, ma
tional committee member.
Guffey's opponent for the Senate Is
Roland S. Morris. Philadelphia, AM
bassador to Japan under Woodrow
Wilson, and former State chairman.
Judge Charles D. Copeland, president
OF Westmoreland County Courts and
veteran campaigner, is pitted against
Guffey's candidate for Governor,
George H. Earle. Sd, United States
Minister to Austria. Also on the anti
Guftey ticket are State Senator Henry
Snyder, Allentown, for Lieutenant
Governor, and State Representative
Norbert J. Fitzgerald, Erie, for secre-
tary Of internal affairs
Also an announced candidate for
Governor, but lacking at present a
team of running mates, is Eugene c.
Bonniwell. municipal court judge in
Philadelphia. Judge Bonniwell was
the party's gubernatorial nominee IN
1918 and 1926, having defeated Guffey
to win the 1918 nomination.
Dog fights among PENNSYLVANIA
Democrats have been frequent for
years. This year the fight is mora
important than ordinarily, for Penn
sylvania has been considered BY all
parties as debatable territory in 1884,
II the Democrats unite behind q
strong and popular ticket.
In this situation, the attitude Of
President Roosevelt and National
Chairman Farley becomes of great i'm
portance before the primary. It is
natural their sympathies should be
with the Guffey faction, which not
| only has been the wing recognized
since the administration started. but
which waged the pre-convention cam
paign here in 1882. Nevertheless, the
opposition group includes many Roose-
welt friends but Guffey foes. who are
unlikely to forget in the November
campaign II pressure is brought to aid
the Guffey slate at the primary.
| National strategists of the party
have been represented as pinning great
hope on the prospect of Democratic
victory in Pennsylvania this year, for
the fall Of the outstanding Republican
State would be heralded as the har-
| binger of Democratic success ir the
| 1886 presidential election. Convinced
that the President will find the chance
Of victory by the party in this State
next November more important than
the triumph Of a faction at the pri-
mary, the anti-Guffey group Is bank
! ing upon refusal by Washington to
make pre-primary loyalty to Guffey a
test Of fealty to the Roosevelt admin
| istration.
Evening star., 1934-02-25
MARYLAND MAKES
SAFETY RECORDS
"No-Accident Week" Finds
Southern Counties Lead
With High Score.
BY j. c. DEPONAI
Special Dispatch to The Star.

Special DlSpaLCn 10 / ne Star.
BALTIMORE, February 24.-South-
ern Maryland counties made the
best showing in the mo Accident
week." February IL to II, inaugu-
rated by Holger Jenson, State C.
w. A. safety director, Calvert, Charles
and st. Marys Counties having no
accidents while Prince Georges re-
ported one and Montgomery two,
none Of them, however, being serious.
The total number Of accidents dur
Ing the week throughout the State
was only Isl among 44,5S5 workers,
2 of which were fatal and occurring
in Baltimore City, the counties having
clean fatality slate.
OF the Isl accidents SO were injury
accidents, causing loss of time be-
yond the remainder Of the day or
shift. the other 90 being minor with
no loss of time and of which 81
were frost bites.
Adverse weather conditions were
responsible for many of the accidents
1t was pointed out. The total num-
Der of man hours for the week was
929,775 and there was one injury ac-
cident for each 73O workers.
This is considered a remarkable
record in view of the fact that there
were $50 accidents during the three
weeks from January % to February
II. Maryland was the first State to
undertake mo Accident week" no
orders having been received from
washington to that effect and the
move attracted the attention Of Harry
L. Hopkins, Federal administrator
who sent Mr.. Jensen the following
telegram:
I'VE are delighted with your plan
OF No-Accident week in the State
Of Maryland for all civil works en-
ployes. In addition to saving human
lives and preventing unnecessary hu-
man suffering you have an oppor-
tunity through your safety campaign
to spread throughout the State a
better appreciation of the great edu-
cational value of your safety effort
I feel sure that you may count
on the full cooperation not only of
all administrators in your State, but
also on the full cooperation of every
man and woman working on c. w. A.
projects. With this splendid spirit I
look for new record in accident pre-
vention in the State of Maryland as
the result of your special program -
Mr.. Jensen, who is safety engineer
Of one Of the large local casualty
companies, intends to continue the
campaign for the reduction of acci-
dents in the State by means of safety
talks and illustrated lectures which
are used in the safety work Of the
company.
Evening star., 1934-02-25
MAINE BEER INCOME
WILL BE $225,0O0
State Licensing Board Gives Esti-
mates for Year Ending
June 80.
Special Dispatch to The Star.

Special Dispatch to the star.
AUGUSTA, Me-, February "a
Maine will have a net income OF S225,-
900 from beer tax and beer license
revenues for the fiscal year which
ends on June 80 next. according. to
the estimates of the State Licensing
Board. This estimate is based on f1g-
ures for the first seven and one-half
months that the new beer law was in
operation. This showed net revenue
of S193 900, after all expenses of the
licensing board in connection with
the law had been paid. Estimated
gross revenues from both licenses and
excise tax is S270,000 for the year.
At the end of the first seven and
one-half months the revenue from ex-
else tax amounted to $4,000. This
represents a consumption of 1,925, 900
gallons of beer, or 30,800,o00 glasses
Of beer, using the average eight-ounce
glass as basis.
In all, 1859 licenses have been is
sued by the board. OF these, 13 have
been revoked and % suspended, either
for violation of the law or the rules
and regulations set up by the board
governing the operation Of establish
nents handling ths beverage.