davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1934-03-31
NINE FIRM CUTS
LOSS BY THIRD

International Mining Corpora
ton and subsidiary reported a net
loss of $532,156 in 1888 against
a net loss of $774,334 in 1882,
while the value Of it's net assets
increased to $6,6S5,S from 49,
371,S25 at the end of 1882, or
1928 per cent.
Net loss consisted of an operat-
ing loss of $69,139 and a net loss
realized on sale of securities Of
$46S,O17. In 1882, there was an
operating profit of $9,18S and a
net loss realized on sale Of securi-
ties of $783.522.
On a per share basis, the net
asset value of 100000 shares of
stock outstanding in the hands
of the public as Of December 81,
1888 was $1671 against a net
asset value of $7.72 share at the
end of 1892 on the shares then
outstanding. Securities were fig
ured at market value if quoted
on stock exchanges, and if not
so quoted, at cost, and net asset
value was taken after deducting
organization expense.
The report reveals the classifi-
cation of total net assets by per-
centages to be as follows: Stocks
of mining companies whose prin-
cipal metal is gold, 51.82 per
cent; stock of public utilities,
1852 per cent; and mining de.
velopments, sol per cent. OF
total assets, IS per cent is in.
vested in projects or companies
in which Information Mining is
represented in the management
or on the board.
According to the report, which
is certified by independent audi.
tors, total income, exclusive OF
1924, ,79S profit realized from sale
Of 63,506 shares of the Corpora
tons common stock, with war
rants, which was added to cap
ital surplus, was $81,043 and
expenses $15O,182. causing a net
loss, before loss realized on sale
of securities, of $69,139.
The corporation showed a net
loss Of $800,957 on securities pur.
chased prior to December 81, 1882
and sold during 1888, but a profit
of 1897, $40 on securities pur'
chased in 1888 and sold in that
year, resulting in a net loss Of
$463.O16 on securities sold during
1888, OF the total operating ex'
penses, amounting to $150,1S2
$72, 1865 represented cost Of mine
examinations and Investigations, a
substantial part Of which con
sisted of officers salaries and ex-
penses allocated to this work.
The Washington times., 1934-03-31
Business Meus
Spotlight

Loans on stocks and bonds to
brokers and dealers by Federal
Reserve members in New York
City for the week ended March
2S dropped $8,OOO,OOO. On
March 2S total Reserve Bank
Credit amounted to $2,519,OOO,-
900, an increase Of $11,OOO,OOO
for the week. German pas
Senger auto sales for the 1894
season are estimated to reach
100000 against $4,000 in 1888
and 10000 in 1882. Surplus
wheat for exporting in the
United States, Canada, Argen-
tina, and Australia is estimated
by the Bureau Of Agriculture
Economics to be 25O,OOO,OOO
bushels below a year ago.
The Washington times., 1934-03-31
Hog Trading Steady
With Prices LOWer

CHICAGO, March 81 G.N.S0.
Hog receipts were 5000 today, in
cluding 1000 sent direct to
packers. The market was steady
and 10c lower than a week ago,
with good lightweights quotable
at $4.45 and heavy butchers at
$4.35.
The supply of cattle was 100.
The market was nominally steady
with yesterday and 15@25c higher
on good steers than week ago.
Weeks top was $7.65 for both light
and heavy steers. Cows and
heifers sold steady to Csc higher
compared with a week ago.
Stockers and feeders held steady.
The market for fat lambs is
steady with a week ago, with best
at 40.
The Washington times., 1934-03-31
ASPHALT GROUP
HEAD RENAMED

The Asphalt Institute, now rep
resenting four-fifths Of the major
producers Of the United States
and Canada, has reelected as its
president B. L. Boye, Of the
Standard Oil Company Of New
York. Mr.. Boye stated that dur
ing his coming term in office the
institute would in it's new pro.
gram cooperate fully with the
Administration.
Figures recently disclosed by
the Department of Labor show
that road building is already EN-
ploying about one-half Of the
total men getting work through
PWA, although highways are al.
lotted less than one-eighth Of
PWA funds. Mr.. Boye added:
Enough asphalt roads are
now being built from the spe-
cial PWA fund Of $4OO,OOO,OOO
to extend almost a quarter Of
the way around the world.
"These 5,S12 asphalt miles,
costing $S2,936,198, entail q
new responsibility on the part
Of the industry towards the
public; a responsibility to be
reflected on our part by efforts
to increase road employment,
and by engineering research so
that each asphalt road can be
paved with much more than
good intentions.
"The fact that roads trans
late money into jobs faster
than other public works is
leading the Administration to
consider another $4OO,O00,0OO
highways grant via the Whit
tington bill, just Endorsed by
the House Roads Committee
and Chief Macdonald of the
Bureau of Public Roads.
Surveys have shown the
bills sponsors that current road
funds will all be under contract
by March 81, and that high
way employment will slump
badly late this summer without
another direct Federal grant"
Other officers reelected at the
Institutes annual meeting were:
vice presidents, A. M. Maxwell,
Standard Oil Company Of Ohio;
Leroy M. Law, Shell Petroleum
Corporation; j. A. Blood, Stand
ard Oil Company of California;
T. M. Martin, Lion Oil Refining
Company of Arkansas, was also
elected a vice president. j. E.
Pennybacker continues as man
aging director,
The Washington times., 1934-03-31
CuneO Press Share
Profit Is Doubled

Net profits of Cuneo Press, Inc,
for 1888 were substantially larger
than in 1882, the annual report
shows.
After all charges, net income
was $7S7, ,4O4. equivalent, after
preferred dividends, to $3.75 a
share on common stock outstand-
ing. In 1882 net income was
$466,994. equivalent, after pre-
ferred dividends to $1.85 a share
on the common stock
The consolidated balance sheet
as Of December 81, 1888 shows
current assets totalling $2,946, AL,
against current liabilities of $919,-
803-a ratio of 3.2 to /.
The Washington times., 1934-03-31
Canada Bond Sales
In March ShOU Rise

New Canadian bond issues in
March amounted to $40, sos, ,042, as
compared with no sales in March,
1888, according to figures COM
piled by Dominion Securities Cor
poration.
The largest issue sold during
the month was a $7,700,000 4 per
cent loan of the Province Of Que
bee, due serially from March 15'
1944-54, to yield 3.95 per cent.
The bond market in Canada
during March continued to show
the same strong position which 1t
maintained during the latter part
Of 1888.
The Washington times., 1934-03-31
N. Y. Merchant Unit
R1pS EXCHANGE Bill
BY International News Service

BY InternatlOnaI News service
The Merchants Association of
New York has placed itself in op-
position to the stock exchange
regulation bill. In a statement
issued by it's president, the aSSo-
citation declared, that the bill If
enacted in its present form would
be harmful to general business.
While conceding that the revised
bill is an improvement over the
original measure, the association
contends it would place all bust
ness under Government control.
The Washington times., 1934-03-31
CHICAGO GRAINS
TURN EASIER

CHICAGO, March 81 G.N.S).
Grain prices eased moderately in
a light trade today, the first day
of operation under the new Grain
Exchange code.
At mid-session wheat was Is to
Ac off, corn "a to 3sc down, oats
u to 5sc off and rye 1s to Ac
down.
The Washington times., 1934-03-31

lie back Of this
claim. Let us
examine them.
l. Many indi-
vidualS are in
need of the
comforts of life,
and they say,
1--WE need more
m o n e y" But
don't you see
that this has
nothing to do
with the total
a m o u n t Of
money in the
country? It is
8 question of
The Washington times., 1934-03-31
LIVESTOCK MARKETS
EAST BUFFALO

EAST BUFFALO, March II U.NS.).
Hogs - Receipts, 700; no holdovers.
Rather slow, weak to SC under Friday.
Desirable. l7O-22O lbs $3.50; s., simiIe9 e
lbs. $3.50: 120-13O lbs, $3.7594.
Cattle-Recelpts, so; weeks steer and
yearling supply light; market uneven,
mostly steady. Good offerings, $6 50@7;
top, $7.25: bulk. medium and shortfeds,
$5.50@6.25; rough weighty steers, S. SO
lower grades in liberal supply, wax to
25c lower; fat cows, 1925 O. $50; cutter
grades $1.4O@2.5O.
Calves-Receipts, so; vealers closed soc
and more under last week; supply lib
eral; demand erratic. Good % choice.
$707.50: early bulk, IS; Common and
Sheep IN receipts; lambs. 950S5c
lower for week. Good to choice WOOL
skins, $9.25Q9.50; common and medium,
$500; shorn lambs, $S down; Few 40 56
lb. spring lambs $11@12.5O.
PITTSBURGH
PITTSBURGH. March 81 G.N.s.).
H'1 Top and bpik $50 @ on 0'CssI 1SCe91c lbs: tsv
heavy, $4.S504.75; medium. $4.S5@49O:
light lights. 1915 @4.90; lights, $4.S5 q
40; packing sows. SS,259S.75; rigs'
cattle-Receipts. none; market nomi-
@61O: heifers, 55O-S50 lbs. good, IS q
$50; cows, good. $S.25@4; bulls, good
Calves-Receipts. IS; market steady.
Top and bulk vealers, $S.
nal. Lambs. 80 lbs. down, good and
choice. ,$S.7O; wool wethers, $50 $50:
ewes (all weights). medium-choice,
The Washington times., 1934-03-31
CONCRETE PRICE CUT

Prices of concrete reinforcing
bars, based at Gulf ports, have
been cut 81 a ton, according to
the American Iron and Steel In
stitute. The new price is 50 per
hundred pounds.
The Washington times., 1934-03-31
REGULAR AMERADA

Directors of Amerada Corpora
tion have declared the regular
quarterly dividend of SO cents a
share, payable April 80 to stock
holders of record April 16,
The Washington times., 1934-03-31

Lost or FOundS Many
articles are lost daily and the greatest
percentage of them are advertised by
the loser lend a helping hand.
II you've found something, read the
Lost and Found Columns Of the WANT
AID SECTION O6 this newspaper.
The Washington times., 1934-03-31
WRITER THINKS
MORE MONEY
WON 7 HELP
BY LEWIS HANEY
Professor Of Economies, New York
University

I have several inquiries con-
corning the alleged need of the
country for more money"
There are four notions which
The Washington times., 1934-03-31

. 4OCoO4OI1 VA
the way the money is divided up
among us.
# an individual income is too
small, the problem is to help him
earn more. It will do him no
good to have more gold in the
U. s. Treasury, or to print more
paper money at washington.
Or, If money is concentrated
in the hands Of few" the prob
lem is to find out if that be
unjust; and if it is, to remedy
the distribution-not to print
more money.
Some Of us don't have enough
shirts. Is that because there isn't
enough cotton in the country?
The country has so much cotton
it doesn't know what to do with
it. The only problem is, how to
get it on our backs.
2. Some argue that printing
more money would automatically
make money circulate, and thus
make business good.
But we should have learned
that we can have huge supplies
of money in the country without
any use being made Of it. 1t is
an undisputed fact that we have
had during the past two years
q record breaking quantity Of
money outstanding in this cOun-
try. But it would not circulate,
and business remained depressed.
Why?
Money goes to work, and cir
culates in a desirable way, only
when people have confidence IN
its value and business Is good.
Don't forget that men do not want
money for itself. They want it to
buy things with. When business
is poor, little money is needed for
business. When business gets
good, money automatically goes to
work, and there is never any lack
of it.
8. Some go on to argue more
money would make prices rise, and
that this would make business
good.
But the fact Is that in recent
years we had large supplies OF
money. yet prices declined. Prices
rise normally only when the de-
mand for products Is strong COM
pared with the supply. When ex-
cess supplies held by producers
ere used up, prices rise. Then
money and checks come into &C
i've circulation. Business Is good.
OF course, a government can do
IS we did after the Civil War (and
Germany after the World War;
it can print Cheap paper money.
That puts prices up, because that
sort of money falls in value. 1t
brings initiation and speculation.
SUIT that is not prosperity. It al
ways collapses.
4. Finally, some argue that
more money would help debtors.
We might reply that most OF
us are not debtors. Why, then.
should all of us who earn rela-
lively fixed wages and salaries,
and who have our little savings
be injured?
But the point I would stress
Is that the only fair way to
help the debtor is to help him
nav his debt. If he is q pro-
ducer, you would have to raise
the price of his product faster
than his expenses. How can
you do that by "mOre money?
Initiation Of the currency, II
IL does anything, raises the
prices of the things debtors
buy as well as the things they
sell.
What debtors really want Is
to have Uncle Sam pay their
debts. That means unloading
their debts on the rest of us.
To say we need more money
to make business good, is just
like saying you can start a
machine, when the power is shut
off, by oiling it. It is like say
ing that because traffic Is small
mo need moro roads
The Washington times., 1934-03-31
N. Y. Bond Quotations

NEW YORK, March 80 G.N.S0.
Rallying tendencies in rail loans
featured a dull and irregular
bond session today.
The upturn in the carrier
group came in the face of the
failure of opposing factions to
come to a wage agreement in
the parley with Coordinator of
Railroads Eastman, nevertheless
demand Of good proportions came
into the usually active favorites,
although advances were held to
a point or less.
Warner Pictures IS was out
standingly strong in a mixed
domestic group, advancing 2
points to So. Richfield Oil IS
was another favorite, moving up
IA points to 80.
United States Governments
were spotty. Treasury 44s stood
out with gain of 4-32 at 1902.
German loans displayed a
firmer tone in the foreign group,
with the International 512S rally
ing a point to 447s, and the
Prussia 61as gaining "a to 37A.
The Washington times., 1934-03-31

GEORGE 2. DAY,
Assistant General Agent. :
Subscribed and sworn to before me
this 2Sth day Of February. 1884.
(SeaD E. C. ROBINSON,
Notary Public.
The Washington times., 1934-03-31
STATEMENT OF THE CONDITION
of the
United States Guarantee
Gomnanv
VUHPdHy

NEW YORK, n. Y.
On the 31st day of December, 1898, a.
required under Section SAT of the
Code of Law for the District
of Columbia
INCOME
The Washington times., 1934-03-31

District of Columbia. IS:
I. w. F. D. HERON, Cashier of the
a above-named bank. do solemnly swear
that the above statement is true to the
best of my knowledge and belief
W. F. D. HERON. Treasurer.
Subscribed and sworn to before me
this 27th day Of March 1894.
lSeaD ]. DUTTON WAINWRIGHT.
Notary Public.
Correct-Attest:
ORD PRESTON
GEORGE E. HAMILTON
CHARLES F. WILSON,
EDWARD L. HILLYER,
w S. HARBAN.
LUTHER F. SPEER.
DANIEL w. O'DONOGHUE, jr.,
D. J. KAUFMAN,
]. H. CRAWFORD,
GEO. e. FLEMING,
A. L. BALDWIN.
H. C. NEWCOMER,
GEO. =. HAMILTON. jr.,
Directors.
The Washington times., 1934-03-31

Total, including capital
account. conference.-the 5ll 81
Memorandum: L o ans
and investments pledged
to secure liabilities:
81. United States Govern
ment securities ........ 1000 10
Guiding fediscounts) 49,. 1000 90
35. Pledged:
CHI For other purposes. 1000 90
O) Total pledged ....... $1,000 DO
The Washington times., 1934-03-31
Insurance Statements
OF THE CONDITION
OF the
Toxic Marine and Fire
Insurance Co., Ltd.
High Low ICloso

OF TOXIC, JAPAN
On the 31st day of December, 1888, ~
required under Section SAT Of the
Code Of Law for the District
of Columbia.
Imperial Valley press., 1934-07-19
N|(IrkefS
New York Stocks

NEW YORK, July 10. lU.P) -
The stock market was in a nerv-
Gus tension today with prices
drifting and volume continuing
light.
Cotton dropped about Sl.50 a
bale below the previous close and
wheat lost most of its gain of al
most 2 cents a bushel. Selling
came into the share market and
prices drifted fractions to more
than points.
Official denial of rumors of Ger
man terrorism strengthened the
commodity markets some, cotton
picking up about half of the loss
and wheat closing with gains of
& to l cent a bushel, but share
prices still held lower in the alb
sence of any buying demand.
The foreign exchange market
found German marks advancing as
much as 4 cent in relation to the
dollar. Experts accounted for this
through purchase of marks by the
Russian government for CONNER
cial purposes.
United Aircraft drifted to 1855
new low since 1882.
Mining shares dropped under
lead of u. S. Smelling. This stock
established a ne record high at
141 in early trading, dipped to
around 1876, and came back to
1861 for point net loss. Ameri-
can Smelling was almost 2 points
lower at 40ls. Noranda mine lost
point to 43, Alaska Juneau was
almost 2 points lower just above
20. Cerro de Pasco dropped points
to 1885 Howe sound lost IL
points to 53&. Homestake, however
selling ex-dividend, swung forward
1875 points a new record high OF
4301s.
Stock sales today approximated
$4,000 shares against 100000 shares
yesterday.
Dow Jones preliminary closing
averages Industrial 1924, off 1.02
Railroad 42.14 off 0.43, Utility 22.5l
off OBS.
Imperial Valley press., 1934-07-19

of extra men are badly needed, It
was pointed out
1t was reported to the committee
that 600 head of cattle were ap-
praised yesterday and that 1000 head
will be shipped from the valley on
Friday Of this week. This is in line
with the drought relief program
and the cattle, appraised and pur-
chased by SERA will be shipped To
Los Angeles.
Another drop in the flow of the
Colorado river was noted at irriga-
ton district headquarters for today.
These readings show that the floW
at Grand Canyon is now but 1910
second feet; at Yuma 1876 with the
spill reading 573 second feet and
the diversion 700.
Hopes of rains falling in the up-
per basins of the river were blasted
when the following telegram was
received from the Yuma office Of
the weather bureau: mo rainfall on
watershed nor indications within
the next 36 hours. High tempera-
lures continue in the upper basin" ;"
Imperial Valley press., 1934-07-19
NRA ADJUSTER
ON VISIT HERE

All NRA codes are henceforuh -
be strictly enforced in the valley.
E. B. Dunning, field adjuster for
the NRA stated this morning. Here
on a preliminary visit, Dunnlng
stated that heretofore there has
been no direct contact between the
valley and NRA headquarters but
this will now be remedie9.
Dunning will be IN the valley
every three weeks from now on
and while here will adjust all COM
plants filed. Blanks on which
complaints are to be written may
be obtained from the postmaster at
the post office and then send di-
lectly to NRA headquarters i'll Los
Angeles at ISL Figueroa street. ID
The complaints will be acted up
on promptly after being received III
Los Angeles and will be adjusted
on the next trip made to the val
ley by Dunning.
Imperial Valley press., 1934-07-19

troll are inestimatable, and l will,
as l have done in the past, do
all in my power to assist"
Discusses Water Shortage
Congressman Burnnam express
sed great interest in the Imperial
county water situation. He explain
ed that when he was informed OF
the water shortage he immediate
ly took it up with federal author
tiles in Washington.
Representative Burnham said that
he was first notified of the Short
age on July 2, when he was in
Chicago enroute home. After re-
ceiying kilograms from Evan Hewes,
president of the Irrigation district,
and B. NJ. Graham, chairman of
the board of supervisors of I'M
perial county, he conferred with
them by long distance telephone,
and then telegraphed Harry Hop
kins federal relief administrator,
federal aid is absolutely impera-
tive in the Imperial county water
shortage"
Congressman Burnham touched
briefly on the San Francisco strike
situation, declaring that while we
were there things were quiet; how
ever, everyone realizes that the Sit
uation is serious. 1t is not for me
to say, however, whether I think
the President should step in, He
is keeping in touch with condi-
tions and will do whatever he thinks
the situation demands. I do not
want to be understood as criticiz-
ing the President, I have a real
affection for him; but some Of the
radical legislators of the last ses-
sion I cannot agree with.
Burnham said that he had
noticed some upturn in business
conditions in both the East and
the Middle West. We might have
less governmental interference in
business, however" he said IF nor
malcy is to be achieved. I have
always cooperated with President
Roosevelt, as has most Of the Re-
publican party, and will continue
to do So"
The congressman concluded with
a brief message from President
Roosevelt TO the people Of San
Diego and Imperial counties.
Give my love to the people of
Imperial Valley press., 1934-07-19
BUTTER
L. A. Stocks

LOS ANGELES, July 10. U.H -
The market continued dull and
trendless in early trading on the Los
Angeles stock exchange today.
TranSamerica led with only 700
shares sold, opening at 6A, sagging
to 61s, and recovering to Ga, un-
changed.
On volume of 200 shares or less,
Pacific Finance was up a at 8a Los
Angeles Investment was down 4 at
AZ; Southern Pacific was down x
at %; Claude Neon was up 4 at
1o1a, and Douglas Aircraft was
down IL at 1875.
Imperial Valley press., 1934-07-19
AIDS
At CAPITAL
CONTINUED From Page II
relief rolls by the first of the year
Seek PWA Project

relief rolls by the first of the year
Seek PWA Project
Hewes further asked Swing to
, explore the possibilities of any part
of this work being made a PWA
project to create employment. He
was also instructed to explore the
possibility of additional relief funds
being made available for the re-
construction of the canal system as
with the water revenue entirely
eliminated on account of no water
being for sale, the districts position
in a short time would be one sub
jecS to great damage by the ele-
ments and this would not pe strict
" in the sense of maintenance and
operation but merely one of con-
ditioning the system of canals and
structures to be ready for deliver
les of water when available.
Further instructions included that
Swing sec if a set-up can be made
similar to the CCC work being done
elsewhere and as last resort 10
explore the possibility OF PWA loans
for these purposes. He was also
asked TO see if Secretary Ickes
would make available more mon
ey 10 be spent on the canal for the
coming year in the face OF the
present emergency and ne was
asked to bring all possible pressure
to bear to secure the completion
Of Specifications for canal construc-
ton at the earliest possible date.
B. M. Graham, chairman Of the
board of supervisors, commenting
on Swings telegram stated: "Ir
view Of the additional men unem-
ployed here due to the water
shortage it would seem that the
specifications on the uncontrolled
part of the canal could be hurried
so that the whole work could get
under construction very soon in Or
der to relieve the situation
Imperial Valley press., 1934-07-19
L. A. Livestock

LOS ANGELES, July 10. kU.P)-
Livestock.
Hogs 100. Weak to lower. Locals
4. to 4.35. Grain fed quoted to ATS.
Cattle $50. Holdovers SIT. Slow.
About steady. Good Texas fed
yearling steers 6.85. Short fed steers
ATS. Common steers down to A..
Few good fed heifers 6.25. Grass
heifers 4 Cows 2.60 to 325. Cutter
grades 1.25 to ESQ. Calves So.
Quotably steady.
Sheep 1900, including 750 direct
and 1000 to feed lots. Lambs
strong to slightly higher. Good
Idahos 6.85, quoted at 5.85. Few
shorn ewes 1.65.