davidaulloa/AmericanStories huggingface dataset:
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1934-10-13
CUT BANK on FIELD


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Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1934-10-13
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The Washington times., 1934-03-29
COTTON STAGES
SHARP RALLY

NEW YORK, March 20 G.N.SJ.
Cotton futures turned abruptly
higher today in moderately active
trading, regaining almost half of
the losses sustained in the first
three days of the week.
There was considerable cover
ing by shorts for over the holiday
weekend, embracing Friday, Sat-
urday and Sunday, and renewed
demand on the part of local and
professional traders who were
cheered by the generally better
tone in security and other COM
modify markets.
The domestic trade was a good
buyer throughout the forenoon,
while commission houses made
small purchases in distant months.
Southern and New Orleans selling
was light.
Noon quotations were up 10 to
II points, with May up 10 at 11.37,
July up 10 at 11.99, and october
up II at 1914.
The Washington times., 1934-03-29
';'s7; sSSos 5i:;: ;s:: N. Y. Curb Quotations @

NEW YORK March 30 U.N.S0.
Continued activity and strength in
metal shares furnished the high
light of a dull and sluggish pre-
holiday curb session today.
Demand for the mining issues
particularly gold shares, followed
reports that q further upward re-
vision in the gold price would be
made shortly. Numerous Of the
Canadian stocks attained new
peak levels for the past several
years, including Lake Shore, up
almost a point at 517s, and Wright
Hargreaves, up - at 9b.
General Tire and Rubber was
strongest among the specialties'
moving UP 1A points to 80.
Distillers' Seagrams edged up 70
to 1875 in the alcohol list.
Utilities were slightly improved, !,
with American Gas and Electric
up b at 26b.
The Cities Service issues conttn-
ued easier.
Curb bonds fluctuated mean
inglessly, with few issues showing
any changes Of consequence.
The Washington times., 1934-03-29
BANK AUDITORS
To MEET HERE

The National Association Of
Bank Auditors and ComptrollerS
will hold its annual convention
here on october % and "a. accord
ing to word just received by the
auditors section Of the District Of
Columbia Bankers Association.
The national association has also
named Arthur ]. Linn, controller
Of the Hamilton National Bank as
general chairman Of the conven-
ton. AS the gathering will be at
the same time as the convention
here Of the American Bankers As
sociation an especially large at
tendence Is anticipated.
Plans for the convention are
already under way under the direc-
ton Of Chairman Linn and the
executive council Of the auditors
section Of the D. c. Bankers Asso'
citation composed OF: Albert E.
Yeatman, Columbia Nationa a
Bank. chairman: r. Earle Hay.
cock, Riggs National, vice chair
man; ]. D. Barrett, American
Security q Trust Co., secretary;
A. j. Bitterly, MunSey Trust Co.,
and w. M. Harris, Lincoln Ma
tional.
The Washington times., 1934-03-29
Orders Spurt
For Pig Iron

There has been . distinct gain
in pig iron orders in the New
York market during the past
week or 10 days.
Sales openly reported for last
week amounted to between 5000
and 1000 tons, but when the
tonnage placed quietly are In
cluded, the total probably was
around 5000 tons. The weekly
rate previously has been run
ming ut only 2,OOO to 5000 tons.
However, part Of this buying
appears TO have been driven In
by possible price increases. With
costs up under the code hours
and wages, there has been talk
in the trade that mark-upS were
inevitable, and part Of the cur
rent purchases, while mostly for
delivery in the second quarter,
may not 60 into consumption
until later.
The Washington times., 1934-03-29
Mcclellan Stores
Plan ReOrQnv1izUtiOIe
BY International NewS Service

BY International NeWS Service
A plan looking to the reorgAnr
ization Of Mcclellan Stores Corp.
win be presented at a court hear
ing early in April, it was an
nounced today. The proposal has
the approval Of the creditors and
preferred stockholders committees
and both groups are preparing to
urge its acceptance.
The property has been operated
since January IL, 1888, by the
Irving Trust Company, first as
receiver and later as trustees. To
date so per cent Of approved
creditors claims have been paid.
An offer to purchase assets in
the possession Of the trustee has
been filed by q group headed by
Hedden & Co., Inc, acting with
United Stores Corp. This pro
posal calls for the formation Of .
new company, to be known as
Mac Stores, Inc.
The Washington times., 1934-03-29
PAY AND PROFIT
WORRIES SEEN
igh.lLow.l 1:1S

The willingness Of corporation
arrangements to plan for the fu.
ture unquestionably has been
weakened recently by two factors,
labor unrest and uncertainty over
profit margins in the event that
the official program Of higher
wages and shorter hours in indus
try is carried out, says a Standard
Statistics Company bulletin which
continues:
''When all these handicaps to
business recovery have been rec
Ognized and allowed for, how
ever, there nevertheless remains
q broad basis for confidence
over the longer term. Labor dis
turbances have never been . de-
termining factor in the progress
of business for any considerable
length Of time. Tney nave
failed to halt rising trends dur
ing periods Of recovery, - was
COnvincingIy demonstrated dur
ing the coal and railway shop
strikes in 1922.
'In the nature Of the case,
strikes are either promptly SeE'
tied, or, If prolonged, the SOt-
back which they cause Is COM
pensated for by business activity
in other directions. There is
strong reason for believing that
the present difficulties win be
decisively dealt with and that
labor disturbances will mot long
continue as q factor in the out
look"
The Washington times., 1934-03-29
WESTERN UNION
GAINS SHOWN
BY International News Service

Sharply increased earnings and
an improved working capital posi-
ton are revealed in the annual
report of the Western Union Tele-
graph Company for 1888, Jointly
submitted by Newcomb Carlton,
chairman of the board, and Roy
B. White, president. Net income
last year, including a special div1-
dent of $1,162,545 from the Amer
ican District Telegraph Company,
amounted to $4,364,882, equal to
SALT a common share, contrasted
with a net loss Of $842,595 in 1882.
Current assets increased from
$14,610,516 at the end Of 1882 to
$18,442,931 on December 81 last,
while current liabilities were re-
duced from $12,722,350 to $11, ,422,-
O22. Property account gained
from 1894 800, ,749 to 1894, ,909, ,279.
Telegraph revenues in the last
half of 1888 exceeded those Of the
corresponding 1892 period by
about 8 per cent, although there
had been q decline Of about 9 per
cent for the first half. Total oper-
ating revenues last year aggre-
gated $82, ,30S, ,606, against $83 $751;
963 the year before. Operating
expenses were reduced by about
S $4,8O0,OO0. On December 81 last,
there were 33,1S1 stockholders, Of
which 31,970 held 100 shares or
less, and 27,348 held Is shares or
less. The total number Of holders
was $500 under 1882.
The Washington times., 1934-03-29
Demand Is Limited
For Liverpool SPOT

LIVERPOOL, March 20 GIN.
SO.-There was a limited demand
for opening spots on the Liverpool
cotton market today. Prices held
steady and receipts totaled 1000
bales, of which 6,400 were Amer
lean.
At noon, middling fair was 7.40d;
strictly good middling 6.95d; good
middling 6.65d; strictly middling
6.5Od; middling 6.35d; strictly low
middling 6.20d; low middling
5.95d; strictly good ordinary
5.75d; and good ordinary 5.45d.
Futures opened barely steady
and at noon were quiet and un-
changed to point higher than
opening quotations. May opened
at 6.O5d; July, 6.02d; october,
5.99d; and January GOOD.
The Washington times., 1934-03-29
CHAINS REPORT
SALES JUMP

Increase over a year ago Of II
per cent, the third consecutive
gain of sizeable proportions, was
reported in chain store sales in
the metropolitan district for the
month of February by the New
York Federal Reserve Bank.
Grocery establishments reported
the largest increase over the pre-
vious year since September, 1880,
and the average daily sales Of shoe
chains made the most favorable
year to year comparison in four
years.
Sales Of the 1O-cent variety and
candy chains also continued to
expand, but on the average daily
basis sales Of the 10-cent and vari-
ETY. systems showed slightly smaller
increases than in January.
Reporting drug chains showed
the smallest decline from a year
ago since February, 1882.
The Washington times., 1934-03-29
Ship Yard Strikers
Hit u. s. Mediation

CAMDEN, N. j., March 20
U.N.SO.-Insisting that the Gov
ernment keep its hands off the
dispute, leaders Of the 3,1OO
striking employees Of the New
York Shipbuilding Corporation
today offered a new proposal to
Clinton L. Bardo, president Of
the concern, aiming at a settle
ment. John Green, local presi-
dent of the Industrial Marine
and Shipbuilding Workers Union,
presented a scheme to iron out
the wage and hour controversy
at a conference table.
The Washington times., 1934-03-29
Business News
Spotlight

Production Of electricity In
the United States for the week
ended March "a tOtaled 1885,
3S9, 900 kilowatt hours compared
with 1,4O9,655,OOO in the same
week Of 1893 and with 1,65O,O1S,-
900 kilOwatt hours in the week
ended March II, 1884. . YOungs-
town Sheet & Tube Company,
Republic Steel Corp, Carnegie
Steel Company, Sharon Steel
Hoop Company, MahOning Val
ley Steel Company, and Inland
Steel Company are all raising
wages 10 per cent on April L..
]. ]. Pelley, president Of the
New York, New Haven & Hart
ford Railroad stated that freight
tarffic SO far this month was
running about 80 per cent ahead
Of a year ago.
The Washington times., 1934-03-29
OUTPUT
SETS MARK
FOR YEAR
BY International News Service

BY knGetnhLIOuAk MOVIE DCENICO
Electric power production rose
to a new high for 1884 last week,
and with but two exceptions,
the highest level since 1881, de-
spite the fact that use Of elec-
tricity normally declines or is
barely steady at this time Of
year, the Edison Electric InSti-
tute reports.
Last weeks rise in power out
put carried the total up to
1865, ,389, 900 kilowatt hours
against laos, ,655, 900 last year
and 1,514,553,O00 in 1882.
Due to the fact that output
expanded sharply at this time
last year, following the banking
holiday, the percentage increase
over 1888 was only 17.6 per
cent, against 20 per cent in the
March II week.
Continuous Advance
The rise continues the un-
broken series Of increases over
both 1888 and 1882 since the
first week Of this year, while the
percentage gain over the pre-
ceding year is the third largest
since the start Of the depression
began, having been exceeded in
only the two previous weeks.
Large gains continued in most
important geographical regions
with the most striking increases
the 27 per cent squirt in the
central industrial region and 1872
in New England.
The Washington times., 1934-03-29
MOnsGntO Chemical
To Issue NeLU Stock

Approval was given by stock
holders at their annual meeting
to proposal to increase author
lied capital stock Of Monsanto
Chemical Company to 1,25O,000
shares from 100000 shares, to
capitalize $4,320,000 Of paid-in
surplus, and to distribute the
additional capital stock thus Gre
ated share for share. The 100
per cent stock dividend will be
distributed on April 80 to stock
holders Of record April 40.
The Washington times., 1934-03-29
v'':T; :;s,sss 7s;s NJ Y. Bond Quotations v;i7; :;;

NEW YORK, March 40 uN.SJ
Rallying tendencies in rail and
domestic corporation loans, con-
trasted with softness in q. s,
Governments were the highltghts
Of early bond market dealings
today.
western Pacific IS featured the
carrier list with a squirt Of more
than q point. Denver and Rio
Grande, Baltimore and Ohio AVS,
Northwestern 42zs, Southern Pa
cific 41as of '68 and Illinois Cen
tral 424s followed with fractional
gains.
Warner Pictures IS set the pace
in the domestic group.
U. s. Governments were de-
pressed by the Senate'S over
riding Of the Presidents veto,
thus throwing the budget out Of
balance. Liberty 31as led the
decline while smaller declines
were recorded in the Treasury
Is, Treasury 3hs and Liberty
fourth 4As.
ForeignS were quiet with United
Kingdom 51aS unchanged.
The Washington times., 1934-03-29
Food Price Index
Declines Further

Marking the third successive de.
cline, the Weekly Food Index,
compiled by Dun & Bradstreet,
Inc, fell 2 cents further in the
latest period, following declines OF
cent in each Of the two preced'
ing weeks.
This brought the index to $2.11
for March az, a loss Of 4 cents in
the past three weeks, and is al
the lowest point since February
6, when the index registered $2.08
The latest index, however, still
is about 20 per cent higher than al
this time a year ago.
The Washington times., 1934-03-29
Hog Market SIOID
And Biddinq Weak

CHICAGO, March 20 ON.SO.-
The hog market was slow today
with bids weak and statesmen ask
ing higher figures. Some good light
weights sold to the Government
at $4.45 but better hogs were held
at $3.50 and better. Most heavy
butchers went at $4.25 to $40.
The supply Of cattle was 5000,
Prices were about steady with
tendency stronger for good quail
ties. Cows and heiferS sold steady
to strong. StockerS and feeders
held steady.
Best lambs held at 1925.
The Washington times., 1934-03-29
Safety Stores, Inc,
Reports BIG Profit
BY international News Service

Safeway Stores, Inc, reported
for 1888 a net profit Of $4,289,6 ,635
after all charges, equal after pre-
ferred dividends, to SAIL a share
on 799,348 common shares, COM
pared with $4,390,227 or $4.22 a
common share in 1882. sales
amounted to 20,156,841, a de-
cline Of $9,016,626, or 3.93 per cent
from the preceding year.
The Washington times., 1934-03-29
Cuba ShOIUS Drop
In Sugar Exports

Exports Of sugar from Cuba
since the beginning Of the year
to March "a totaled 31O.311 long
tons raw sugar value as compared
with 327, 1882 tons during the simt
lar period last year, a decrease Of
1851 tons, or 5.4 per cent. accord
ing to cable advices received BY
Lamborn and Company.
To the United States there were
shipped 254,26S tons as against
256, 6,805 tons for the same period
in 1888, a decrease Of 1857 tons
or approximately 1 per cent.
The Washington times., 1934-03-29
GRAIN FUTURES
WORK UPWARD

CHICAGO, March 20 Q.N.S0
Grains displayed a healthy under.
tone in today's early dealings, re-
flecting developments in Wash
ington and strength in other
speculative markets.
Wheat was bid up a cent to
861a for the May future and corn
and oats advanced moderately to
49bc and 32Bc.
Near mid-session prices were at
the top, wheat being 34c to 1c
up, corn Ac to ssc up, oats Ac
to %c higher, and rye 1ac to Ac
I'D.
The Washington times., 1934-03-29
AutO-Lite Workers
Get TlUO Pau Raises

Electric AutoLite Company
workers have been notified they
will receive q 5 per cent wage in
crease, effective March 29.
This increase is in addition to
the 5 per cent given on March 1
to obtain a truce In the auto parts
strike, and is due to general i'm
provement in the automotive bust
ness and in keeping with the plan
announced by auto makers re-
Gently to increase wages.
Similar increases by other aIl.
tomotive plants here are expected
before April ], when the strike
truce expires.
The Washington times., 1934-03-29
Water Works Earns
$1.35 on Each Share
BY International News Service


American Water Works in
creased net income in the IL
months ended February % to $2S-
356, ,496, equal to $1.35 a common
share, from $1,97O,381, or $1.14 a
share, in the preceding IL months.
For the IL months to January 81
last, net was $2,255, ,989, or $1.29
a share, against $2,169,955. or
$1.25 a share. in the previous 12
months. Net income for the fiscal
year 1888 amounted to $2,137,317,
equal to $1.22 a common share,
compared with $2,396,422, or $1.38
a share, in 1882.
Directors declared the regular
quarterly dividend Of IS cents a
share on the common stock, pay
able May to stock Of record
April 10.
The Washington times., 1934-03-29
Western Diaries, IH1c.,
To Preserve Assets

In a prospectus filed with the
Federal Trade Commission, West
ern Diaries, Inc, reveals a plan
for the preservation Of assets Of
the two companies whose Securi-
ties it was formed to hold, the
western Dairy Products Company
and Western Dairy Products, Inc.
The plan involves an offer to
holders Of securities to exchange
them for preferred stock Of West
erni Diaries. Inc. and to holders
Of voting trust certificates to ex'
change them for common stocks
The Washington times., 1934-03-29
Pe1ensy Road ShOlOs
Increase in Income

BY International News Service
February gross and net oper-
ating income Of the Pennsylvania
railroad was sharply above the
same 1888 month. Gross gaining
from $22, ,156,278 to $26,009. .636
and net from $2,61S,641 to
$4.O98, ,442. Gross for the two
months to February 28 amounted
to 1921 AL and net operating
income was $8,T65, ,763, compared
with $46,398.443 and $6,136,0 900,
resectively. in the corresponding
period last year.
The Washington times., 1934-03-29
Lehigh Road Nets
FebrUarY Profit

Preliminary operating account
Of the Lehlgh Valley railroad for
February indicates that the COM
pany showed a profit, after all
charges, in that month for the
second month in succession. AL
though the final black figure
for the first two months was in
the neighborhood Of only $4,000
to $4,000, this compares with a
deficit of over 100000 for the
corresponding period in 1888.
The Lehigh's net operating in
come in February this year
amounted to $644,325, compared
with $620,802 in January, when
net income after al charges
amounted to 1884.
The Washington times., 1934-03-29
Share Deal Denied
Bu AdOLph LelUisOhH1

A representative Of Adolph
lewiston and Sam A. LeWisohn,
respectively president and a vice
president of South American Gold
and Platinum Company, upon
being shown a newspaper report
stating that the LewiSohn group
had bought 100000 shares Of
South American Gold and Plati-
mum stated that neither Adolph
LeWiSohn nor Sam A. LewiSohn
had any part IN any group pur-
chasing these shares.
The Washington times., 1934-03-29
B. e o. Reports Gains
In Operating Income
International News Service

BY International NeWB Serv1ce
Baltimore & Ohio r. r. in Feb
ruary increased net operating in
come $179,244 and gross revenues
$2,340, ,1SO, it was disclosed today
from 1924, 1888 and 1881 ,069, re
spectively, in February, 1888. For
the first two months Of 1884, net
operating income amounted to
$2,648, ,493, compared with $685.
845 in the same period last year,
a decline Of $167.352. Gross TO-
tailed $21,271,260, against ST.
500, ,O91, an increase Of $3.771,169.
The Washington times., 1934-03-29
Net Loss Reported
For Superior Oil

The annual report Of Superior
Oil Corporation for 1888 shows
total income Of $624,596 from all
sources. The corporation reported
a net loss Of $327,3 ,344 after de-
probation and depletion and
other charges. From operations
alone the company showed q
profit Of $146,9O6.
The Washington times., 1934-03-29
Loss Nearly HGLUed
Bu REQ Motor Co.

The consolidated balance sheet
and profit and loss statement Of
the REQ Motor Car Company,
together with its subsidiaries, for
the year ended December 81
shows q net operating loss Of
81, 400, ,666.
This compares with a loss OF
$2,878,938 for the year Of 1882
The ratio of current assets to
liabilities is reported in excess
OF 8 to l.
The Washington times., 1934-03-29
Cigarette Price Cut
Based on LOWer Tax

:. The retail price Of standard
cigarettes would drop to 10 cents
If the Federal tobacco tax were
lowered to $3.50 per thousand.
JuniuS Parker. representative Of
the ''Big -Four" tobacco professors.
told q House Ways and Means
Committee yesterday.
The Washington times., 1934-03-29
Crude Oil Output
ADernOeS HiQheT

10, Daily average crude oil produc'
ton in the United States last week
gained 11,7OO barrels over. the
preceding week, totaling 1889 800
compared with 2,37S,100 barrels
d. the American Petroleum Institute
reports.
Motor fuel stocks also showed
. a gain, amounting to 67,879, ,0OC
: barrels against 57,708,00O barrels
at the close Of the previous week
The Washington times., 1934-03-29
SIX DIVIDENDS

William Rigley, Jr. Co.. declared
six regular monthly dividends Of
IS cents each, payable May l.
June /, July 2, August !, Sep"
tember / and october ! to stock
Of record April 20, May 10, June
40. July 20, August 20 and Sep
temher 40. ....