davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1934-05-24
FACTORY JOBS
BACK To 1880
FIGURE

Continued gains in employ
ment, pay rolls and manufacturing
production was shown in April
and the early part Of May, the
Federal Reserve Board reported
yesterday in its monthly review Of
business and financial conditions.
Production of manufacturers,
which has increased continuously
since last November, reflected
gains in iron and steel, automo-
biles and meat packing, the re-
port said.
Oil Output Increases
Lumber production declined in
April, and activity at wool and
silk mills was considerably re-
duced, while cotton consumption
by mills showed little change.
Crude petroleum output continued
to increase, but there was more
than a seasonal decline in the
mining Of anthracite and btu.
minous coal.
Volume of employment and
wage payments continued to in
crease in April, and employment
in factories was larger than at
any time since 1880. A substan-
tial seasonal increase in employ
ment on private construction as
well as on projects financed by
the PWA was reported.
Commodities Gain
Employment increases were also
reported on railroads, in metal
mining and quarrying,' and in
various service activities.
Although the general level Of
wholesale commodity prices has
shown little change during the
past three months, grain, cotton,
silk and silver prices, which de-
clined sharply in April, rose dur
ing the first three weeks in May.
The Washington times., 1934-05-24
SENDS
COTTON LOWER

NEW YORK, May "a 4-QN.S0.
Light selling pressure influenced
by weakness at Liverpool, turned
the cotton market lower today.
The list also was affected by
easier grain prices.
Sales during the morning came
from spot houses, the South, New
Orleans and Liverpool. These
offerings were absorbed on the
scale down, mainly by the Cont.
mental trade and brokers making
purchases for Japanese interests.
Continued favoring weather was
an unsettling factor in the market.
Further general rainfall in north
west Texas helped relieve dry
conditions there which have been
holding up planting and germina-
ton. A few scattered showers
also appeared in some western
parts of Oklahoma, although rain
is still insufficient here. Rains
in the eastern seaboard states
were in a number of instances
undesirable, however, following
the extensive precipitation last
week and resulting grassy and
weedy condition Of fields.
A spot interest today reported
fixing prices on several hundred
bales acquired by mills in the
southeast. The Cities Service
issues pointed lower, the common
easing 1s to 212, and the deben-
lures dropping 3s to 482s.
The bond division was spotty,
with the National Power & Light
SIS off 81 at g..
The Washington times., 1934-05-24
|-0AD|NGS RISE
INDICATED

Loadings of revenue freight for
the week ended May 10, to be
published tomorrow by the Ameri-
can Railway Association. are likely
to total about 615,000 cars as COM
pared with 601,739 cars IN the
Immediately preceding week and
531,618 for the corresponding pc
riod of 1888.
Such a result would bring the
Dow. Jones loadings index to 692
for last week, compared with 68.6
for the week ended May u.
The first eight railroads to re-
port April earnings had net op-
Grating income in that month ag-
gregating $6,705,000, compared
with $4,171, 900 in the like 1888
month, increase Of 60.8 per cent,
and with $4,172,000 in the CORE
spending month in 1882, an in
crease Of GOT per cent. In March
this year their net operating in
come approximated $9,230,O0O, an
increase of 1927 per cent over the
1858, 900 reported for the COM
parable 1888 month.
Gross revenues of these carriers
in April this year amounted to
about 31,569.00O, against $25..
$4,000 in April, 1888, increase of
1872 per cent, and against $28, ,370,.
900 in April, 1882, an increaio of
11.3 per cent. Their gross in March
this year amounted to $34, 1861 900,
an increase of 39.T per cent over
the $24.954,000 reported for the
like month last year.
The Washington times., 1934-05-24
LEADERS
SEE MARKET,
-. "HNHlJ
OBSTACLES

NEW YORK, May "a UN.S0.
Steel leaders today were in agree
ment that a tremendous potential
market for steel products exists
as the Iron and Steel Institute
opened its annual meeting here
but many executives held that
labor unrest and growing lack Of
confidence will handicap business
In the next few months.
Charles M. Schwab, chairman,
American Iron and Steel InSti-
tute, stated he will tender his
resignation but that he did not
known whether it would be ac-
cepted.
William A. Irwin, president,
Bnited States Steel Corporation,
said that the rather liberal de-
mand for steel products in recent
months clearly indicated the need
for the country for the replace.
ment Of stocks for immediate con-
sumption. He said:
''It has been evident that a
part of this demand has been
created by Government aid for
new projects and the necessary
replacement of transportation.
"The automobile industry be-
ing outstanding with respect to
demands for immediate con-
sumption would seem to indicate
confidence by the buying public
in the future prosperity Of the
country"
SErnest T. Weir, chairman, Ma
tional Steel Corporation, expressed
the view that the peak of produc-
ton has been or would be reached
this month and that the third
quarter would show a sharp drop
from the current period, attribut-
ing the situation to uncertainty
and a growing lack Of confidence
on the part of industry.
E. j. Kulas, president Otis Steel
Company, stated there are many
reasons to believe that a real and
definite turn has come in the in
dustry. He expressed the hope
that stockholders in steel compa-
:nies will not be deprived OF at
least a moderate return on their
xnvestment indefinitely.
Henry A. Roemer, president,
Sharon Steel Hoop Company, said
shipments of his company in the
four months ended with April were
double those Of the like 1888
period.
He asserted the NRA has been
helpful in bringing certain i'm
provements, but contended that
higher costs of products and labor
cannot be maintained unless there
is some compensating form Of sta
bilization.
The Washington times., 1934-05-24
Mercantile Marine
Assets Cut ShQrpLu

International Mercantile Ma
rine Company and domestic sub.
sidiaries report net loss of ST.
411,441 for 1888, a reduction of
$95,745 from the 1882 loss, and
a sharp impairment of assets
due chiefly to disposal Of foreign
properties at heavy losses and
readjustment Of book values.
Share holdings in foreign com.
panieS continue to be treated
as investments, said P. A. s.
Franklin, president.
Total assets were $35,8o9, $40,
compared with $57.539,737 at the
1882 close. Current assets were
$8.520,003, compared with $685.
628, while current liabilities
were $4,932.191, compared with
$4,509,074 at the 1882 close,
The Washington times., 1934-05-24
Sales Holding
For Stores

Department store sales con-
tfnued at a fairly satisfactory
level through the first half Of
May. One large chain, with
stores in New York and the
Eastern States, showed q gain
of about 10 per cent for the
first two weeks Of the month.
while increase so far this year
is about Is per cent above last
year.
Business, however, is appar-
enly spOtty, and varies consider
ably with cities and individual
stores
Increases in March due to the
unusual conditions prevailing
ran from 30 to IS per cent over
. year ago; April business on
the average was about even
with last year, and so far in
May a small but satisfactory
gain has been shown.
The imprOvemnt is enough to
encourage store executives to
look for better profits, but it is
not large enough to indicate
any important business uptrend,
since the price level is rs per
cent to 30 per cent above that
Of q year ago. In other words,
while dollar sales are slightly
larger, actual volume of goods
shows no increase.
The Washington times., 1934-05-24
vi'ss; :z;o5 5?:;;:" ;s:::: N. Y. Curb Quotations

NEW YORK, May "a 0.N.SO.
The curb market displayed
marked irregularity in slightly
increased activity today, with re-
fusal Of traders to withdraw
from the sidelines pending dis
posal Of the regulatory bill, re-
flected in the generally narrow
price fluctuations in the leaders.
Utilities were slightly improved
on the average, with nominal
gains registered in Electric Bond
and Share, Niagara Hudson
Power and Consolidated Gas Of
Baltimore.
Technicolor was a strong fea-
ture in the specialties, advancing
13s points to 11b. American
Cyanamid B. Greyhound, and
Pepperell Manufacturing i'm
proved fractionally. contrasted
with a decline of 5s in Alumi-
mum to 62A.
Canadian Industrial Alcohol B,
was weak spot in quiet alco-
hol list, declining 13s points to
a new low at ga.
Oils held narrowly, with
Creole up Hs at 1918, Interna-
tional Petroleum up 1s at 263s,
and Standard of Indiana un-
changed at 26A.
Some others reported demand
still small. A possible change
in the demand for cotton should
business in Worth Street pick up
further on the curtailment pro-
gram is being watched for in
some quarters.
Around the noon hour futures
were off 6 to 7 points, with
July off z at 1127, october off
6 at 11.48, and December off 6
at 11.60.
The Washington times., 1934-05-24
5000, 900 Advance
Sought by B. e D.

Baltimore and Ohio railroad
has requested Interstate Com
merce Commission approval and
authorization of expenditure of
5000, 900 to be borrowed from PWA
for purchase of II new units of
equipment. Permission also was re-
quested to issue an equal amount
Of the roads equipment trust Ger.
tificates Series H which will be
sold to PWA.
The road will purchase one
Diesel electric engine and 16 cars
of various sorts.
The Washington times., 1934-05-24
Exports of Auburn
Automobiles Soar

Auburn delivered 10 per cent
more cars to export markets in
the first four and a half months
of 1884 than during the entire
previous year, factory officials an.
nounced.
There has been no let up in
demand and the backlog of un-
filled export orders is practically
equal to that of two months ago.
it was also pointed out. Auburn
has added ~ new accounts In 20
countries since January /.
The Washington times., 1934-05-24
MARKET IS JUST.
'ANOTHERPA|N'

BY WALL STREET SPECTATOR
NEW YORK, May "a GN.S0. d.
To Wall Street yesterdays market
was just more of the same thing.
Stocks were not as weak as on
Tuesday but showed just as little
rallying power. The market
seems to have reached g. state
not seen for a couple Of years,
where it hasn't a friend in the
world.
There has been a change Of
sentiment regarding the gold
stocks.
This is surprising since silver
apparently is going to get the big
break from now on. The ex-
planation may be that astute
judges of the trend are convinced
that initiation is inevitable, with
lots more government spending
necessary to prevent a business
letdown. U. s. Smelting'S cur
rent earnings are said to be run.
ming at the rate Of SIS a share.
There's a report around that
the administration is planning a
deal on silver in connection with
the war debts.
Liquidation by tired-out longs
is responsible for the weakness
in American Commercial Alcohol,
some of the stock dating back to
the spree Of a year ago. Reports
persist that Kuhn Loeb & Co., is
planning an offer for some of the
assets of the Guaranty Company,
affiliate of the Guaranty Trust.
Buying in Borden is still said
to be well posted.
It looks as though the anthra.
cite industry will get a break this
winter.
The reason is that Fuel Oil, the
big competitor, is going to be
much higher, with increases rang.
Ing to rs per cent and more al.
ready announced. This should
mean the best year in quite a
while for the hard coal boys since
earnings have been substantial so
far this year.
The Washington times., 1934-05-24
ILLINOIS BELL
OM|TS DIVIDEND

Directors of Illinois Bell Tele-
phone Company omitted the quar-
terly dividend on common capital
stock due at this time. The COM
pany has been paying dividends
at rate of 81 quarterly. F. o.
Hale, president, said:
''The board Of directors
omitted the declaration Of a
dividend pending action by the
Federal District Court with re-
Spect to the refunds to certain
classes Of coin box users, re.
Gently ordered by the Supreme
Court of the United States and
pending a determination Of just
what effect the order will have
on the surplus and current earn
ings of the company"
Illinois Bell Telephone Com
pany has outstanding 100000
shares of 500 par value common
ca pital stock, more than SO per
cent Of which is owned by Amer1-
can Telephone and Telegraph
Company.
Dividends at the SO annual
rate which has been maintained
for many years have amounted to
$12,000,O00 a year or $3,OOO,OOO
quarterly since the last increase
in stock in 1929.
The Illinois company has al
ready paid one So quarterly divi.
dend this year. Assuming that no
further dividends are paid this
year, the $9,0O0,O00 loss of reve'
nue. to American Telephone &
Telegraph Co. would be equiva'
lent to 48c a share on the par
ent company's 18,662,275 shares
Of stock and to 64c a share on
an annual basis.
The decision of directors to
omit che dividend entirely, fol
lows hard on the heels of a de-
cision of the United States Su
preme Court several weeks ago
which reversed the lower courts
and held, in effect, that Illinois
Bell Telephone Co. depreciation
charges of a period of years were
too high and lower rates ordered
in effect 10 years ago by the
Illinois Commerce Commission
should become operative. While
the appeals from the original de-
cision were under way, additional
revenues paid by subscribers
above the rates prescribed were
held in suspense and at the close
of 1888 amounted to $16.248,775
These funds are ordered repaid
to subscribers by the court. The
additional revenues collected in
1888 amounted to $1,087, 900.
The Washington times., 1934-05-24
Philippines Boost
Sugar ShiDn1ents

Raw sugar shipments from the
Philippines to United States from
November /, 1888. to May IS, 1884,
totaled 976,503 long tons, against
786,387 during the similar period
in 1928, an increase of 24.7
per cent, according to cables to
the New York Coffee and Sugar
Exchange.
Refined shipments in the same
period were $3.50 tons against
37,301 in 1928, a gain of 51.8
per cent. Shipments for the first
half Of May raw and refined to-
gether, totaled 83.937, against
74,402 during the similar period
in 1888.
The Washington times., 1934-05-24
Columbia Pictures
Profits Increased
BY International News Service

Columbia Pictures report net
profit for the 80 weeks ended
March 81, after all charges and
preferred dividends Of $739, 1888, or
SALT on each share of common
stock outstanding.
This compares with $546,778 for
the fiscal year ended March rs,
1888, or $500 on each share Of
common stock then outstanding,
after preferred dividends.
The Washington times., 1934-05-24
v'';Ss :is,.sSsS 5sSsS'~ N. Y. Bond Quotations

NEW YORK, May "a UNS).
The bond market turned in q
ragged performance today, with
further dribbling liquidation Off
setting scattered improvement in
individual issues.
Rails were mixed, with frac"
tional declines in the Northwest
ern 4A; Denver Rio Grande SIS Of
'55, Missouri Pacific As and South
ern Pacific 41as of SO offset by
minor gains in the st. Paul 5S A,
Erie SIS Of rs; and Great North
ern Is.
Active industrial bonds were in
supply, with losses up to a point
sustained in McKeSson and Rob-
bins 51as; United Drug SIS, West
ern Union 5s Of 80, and Amer
ican Writing Paper IS.
Consolidated Gas SIS and Amer.
lean Telephone 51as eased NOM
inally in the investment division.
Home Owners Loan As were out
standing in a quiet Federal list.
The Washington times., 1934-05-24
Canada NeWsprint
Exports Increase

Canadian newsprint exports
during April totaled 3,140,519 cwt.
valued at $5,319,708, against g.
262,774 cwt. valued at $4,536, TAT
in April, 1888, according to Do
minion Bureau of Statistics.
United States last month took
2,81,742 cwt. valued at $4,284 ,588.
April exports Of pulp wood and
screenings totaled 743,146 cwt.
valued at $1,680,002, against
672,612 cwt. valued at $1,282,039
in April last year.
The Washington times., 1934-05-24
s. S. Kresge to Pay
Common Dividend

3. S. Kresge Company has de-
clared dividend of 20 cents on
the common stock and the regu-
lar quarterly dividend of SITS on
the preferred stock, both payable
June 80 to stock of record June IA.
Similar payment was made on the
common stock in the three preced-
ing quarters. =,
The Washington times., 1934-05-24
GET 4O-HOUR WEEK

The New York Power and Light
Corporation has placed its 1900
employees in Albany, Schenectady
and Troy. on a 40-hour, five-day
week basis as an experiment" I"
Salaries were not affected.
The Washington times., 1934-05-24
UTILITY DIVIDEND

Lindsay Light Company de-
clared the regular quarterly divi-
dend Of 171a cents on the pre-
ferred stock, payable June Is to
stock of record June 8.
The Washington times., 1934-05-24
SOLVENTS DIVIDEND
High Low l1:oO

Directors Of Commercial Sol.
vents Corporation declared the
usual Semi-annual dividend Of 80
cents per share on the common
stock, payable June 80 to holders
of record June !.
The Washington times., 1934-05-24

No European Oil 49,. AI "a 4
Nor Sta Pw A..UD. 1914 1914 1914
Pacific Gas 6pf.,..., 21% 21% 21%
Pantepec Oil ....S..l 1S IN Ia
Paramt Motors ....,.I 5 ~ 4A
Parker Rust Proof .... 5Sh 5S1s 5SI7
Pennroad vic ........ "a "a "a
Pepperell Mfg ........ SO% so so
Long Island 1t pf A. 81 81 81
Long Island 1t pf B.. SIX 55% 57k
Louisiana Land. SAI .3hl az
#:: #$:; :;:; e.; u; # s.
MONTGOMERY Ward A. LlO8& llO7 IlOS&
Nat Nat f73si Sssi d::. ds. lne Il * 15 * (
Phoenix Sec pf ....... IS 25 25
Pioneer Gold ...... 123s 12k 12k
Pitney Bowes ..... 81 3b az
Pittsb p Glass ...... 4sM 47h 4S%
Premier Gold ......... IA IA IL
Puget Sound pf.... ga 81 9A
Pure Oil IS pf ....... 44h Hh 4h
Quaker Oats ..... I10S l10S I1OS
Reeves Daniel ....... 11K 11N 11H
Reter Foster .....I 7-16l 7-16I 7-16
Richfield Oil pf ...... IN IN IL
st Anthony Gold .... 7-16I 7-16 7-16
st Regis Pap ....... 3h "a 3ls
Salt Creek Pro 5000. 6h 6h 6h
Schiff & Co ........ 80 S3 33
Selected Indus ...... TX 1% IL
Select Indus AC 5las 55h 55ia '551
Select Indus prior pf 57A 5515 57A
Shawinigan w Power 22% 22S 22S
Silver King ........ So SIS S9s
South Penn Oil .... 22K 22 %
South Corp ........ y y
Southern Nat Cas-. II Il u
Southland Royalty. 5h 5hl 5h
st Oil of Ind. ..... 26as 26A 26A
St on Of Ky; 800 1SH 1SSh 1shh
stand Silv Lead. ...... q Is d
Stein Cosmetic ...... IN IN In
stutz Motor ....'..
Sunray Oil (DeD ..... IN IN III
Swift & Co new. 15A 15h 15h
Swiss Am E pf WV. A A A.
Swiss OIL Corp. -...f ga 2%l 2%
EsssSsssf FssSSissfor "a" @ III Il ~ ~ AZ u
$sSa $ssa 4%ss'' EFes ::.:::::: g :::::: il Il t.
Tung S Lamp ..:..
Tung l. pf ...... 2$ % %
Ss;,:s S:r s'' y::ns:s: 5;s.' cs'S Sa; : = =
United Gas............ 2& 23s 2fs
United Gas pf. f........ Al 40 4OK
United l. & p CIV pf.. IA 1917 13%
United Molasses. ...... AZ
United Profit Sh. ......
United Shoe M........ 65h $50 65h
U s Electric Pw..... Is y y
U Foil B............ IL ~ IL
u G. Int Sec ....... 1% IN ia
U Ardiator pf. f....... 10 10 10
United Wall Pap Fac. 3S as SS
Universal Ins. ......l II II II
Utilit's P & L....... ~ IL IN
Util & l. vic B..
Utilt P&L pf.........l 9S 9&I 9S
Waco Aircraft. ........I 1871 1881 16h
West'n Cartridge pf... 81 81 81
West Va Coal & Coo. 3b 3B 3b
Westvaco Chlor pf.... 30 80 80
Wright Harg Mines....l 8%l S&l S%
Yukon Gold .........l %I S Is
The Washington times., 1934-05-24

High Low 1:15
III Pow & 1t $s pfd. 1873 19% 1919
Imp Oil Canada. 80. 14ss 14n IAN
Init Hyd El sys pfd.. 24% 24% 24!s
lntl Fat ............. 269e Z6h Z09S
Jones & Laughlin..... 24Nl 24AI 24%
Kingesbury Brewer. .... 5 5
Lake Shore Mines.... SO so SO
Lane Bryant pfd. ..... 10 10 10
Lehigh C&Nav new.... SH 81 81
Nat Pow & 1t piece. 5SR 5SE 5S1a
Nat Service .......... 1916 B 1915
Nat Steel war ........ gig 213 2H
Nat Transit .......... ~ 75s 76s
N NJ & Ariz Land .... 11a 1h 1b
N Y Steam .......... 29l4 29A 29K
N Y Tel pf ......... I118h111SA l11Sh
Newmont Min ...... 4S 4S 48
Mag Huds Pow...... So 5k 5h
Nitrate Chile B...... II Il Is
The Washington times., 1934-05-24
REGULAR QUARTERLY

Cromwell Publishing Company
declared the regular quarterly
dividend of Is cents on the COM
mon stock, payable June Is to
stock Of record June IA.
The Washington times., 1934-05-24

Volume This Year
23,434,940 Shares
The Washington times., 1934-05-24

BOND MARKET AVERAGES
Copyright, 1894, Standard Statistics Coz
NEW YORK Nav u HNSN-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-02-28
In the Air

Weather conditions at a. M:
Southeast wind. 8 miles an hour;
temperature. Il; barometric pres
sure. 3065 at sea level; general con-
ditiOns, high. thin. broken clouds,
smoky: ceiling, unlimited; visibility.
four miles
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-02-28

If you have a vacant house let
The Times help you rent it.
Times Rental Ads produce splen-
did results. Rates are the lowest
in the city.
Merely Call Riley 5551.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-02-28
INDIANA PWA
ADVISERS TO
CLOSE OFFICE
State Board Completes All
Work; Obtains Sixty
Local Projects.

With all scheduled work COM
pleted, the Indiana public works
administration advisory board will
close its Offices in the federal build
ing today.
The local PWA board has OBJ
tanned for Indiana sixty projects
involving 100000. Work on about
twenty of these projects already
has begun and the rest will be
started in the near future.
About ninety additional projects
approved by the local board are
pending before the committee in
Washington. These projects involve
an expenditure of nearly $25 900, 900.
The board was appointed in Au-
gust and is composed of Otto P.
Deluse, indianapolis. chairman;
John Napier Dyer, Vincennes, and
Lew G. Ellingham. FIT. Wayne.
On each of the PWA projects
approved, the government has made
an outright grant of 30 per cent
of the amount necessary and al
lowed the local government to re-
pay the remainder over a period of
thirty years.
Severala employees will work under
A. H. Hinkle, chief engineer for
sevaral days more studying plans
for projects pending and supervis-
ing work scheduled to be begun
soon,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-02-28
col DS
Go Thru 3 Stages
and They're Far Easier
Relieved in the First than in
the Second or Third!

A cold ordinarily goes through 3
stages: the Dry Stage. The first "a
hours: the Watery Secretion Stage.
from l to days: and the Mucous
Secretion Stage. The first stage is
the time to nail a cold.
Groves Laxative Bromo Quinine
is the treatment for colds. 1t is eX-
preSSly a cold remedy and not a
preparation good for half a dozen
other things as we'll 1t is direct
and internal which is what a cold,
an internal infection. requires. 1t
is also COMPLETE does the four
things necessary. 1t opens the bow
els. combatS the cold germs and
fever in the system, relieves the
headache and grippy feeling and
tones and fortifieS the entire Sys-
tenn. Anything less than that is in
viting trouble. Get Groves LaXa-
tive BrOmo Quinine at any drug
gist, soc and SOC Ask for it by the
full name and refuse a substitute.
Advertisement.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-02-28
Mrs. Catherine Martin Dead

Following years illness, Mrs.
Catherine Martin, 40, died yesterday
in her home. 1873 Kentucky avenue.
She was born Dec. %. 1893, and had
lived here all her life She was a
member of the Assumption Church
Altar Society.
She is survived by her husband,
Howard Martin; her son, Vincent
Martin; three brothers, Patrick and
Elmer Ward, Indianapolis, and
Michael Ward, Mars Hill, and three
sisters. Mrs. Ida Henry, Lafayette,
and Goldie McCloskey and Mrs May
Dastin. indianapolis.
Mrs. Martin was the daughter of
Mr.. and Mrs. Michael Ward. She
was married Nov 26, 1912.
Funeral services will be held at 9
Friday morning, at Assumption
church, with burial in Holy Cross
cemetery.