davidaulloa/AmericanStories huggingface dataset:
Nogales international., 1934-05-05
Should Encourage Building

1t seems to be generally understood tnat the
greatest measure of unemployment is in what are
known as the ''building trades Building, except on
public projects is almost at standstill. In the big
cities there was an orgy OF Overbuding up to 1884,
but in the nation whole we are told by competent
authorities there is still great deal of building and
repair work to be done.
In normal times the United States used to spend
about four thousand million dollars year on build
ing, constructing every year enough buildings to
house population as large the city OF Los Angeles
with dwellings,, public buildings, stores, factories
hospitals schools libraries and the rest to meet the
needs of a million population
With the cessation Of that annual building pro-
gram, carpenters masOns plasterers, painters cleo
trcians plumbers paper-hangers and all Of the trad
es which colaborate to construct new building be-
gan to feel the pinch Of unemployment The furniture
and furnishing industries felt it next and so on down
the line And the sources from which money ordinar-
y for building purposes found themselves with
"frCZon loans and no money to lend even to those
Nlo wanted to build repair.
We think there probably enough office build
ings stores and semipubic buildings of that sort:
probably enough factories also But all Of those need
mOdelnZlng and repairing, and while there are dwell
lngs enough, Of sort to house everybody in America
many of them ought to be abandoned and replaced
with new ones, and practically all Of them ought to
be repaired, many to the point of virtual reconstruc
ton.
For those reasons We wait with good deal of
interest further details Of the Governments plan to
encourage long-term nstalnent loans for repairing
and undermining dwellings. We understand this does
not contemplate direct loans from public funds, but
rather some sort of guarantee to lenders against
loss when all the conditions of the loan meet the ap
prOval of Government experts We do not know how
far it is proposed to go to extend the security
and encouragement to lend for dwelling con-
struction but the Government would do we'll to try
to simplify the present system Of building loans and
cut down the cost to the home-builder of the money
he has to borrow for that purpose One of the great
reasons why building has slowed up is that MORTGAGE
loans under the present system hard to collect.
and therefore the borrower is required to pay alto
gether too high profit somebody when he tries to
finance home
Don't take stranger in your car; it might be
Dillinger
Another paradox is that lightweight politicians
sling the heaviest chunks Of mud
The most provoking husband is one who talks
indistinctly in his sleep. .&,
If the opposition is to be believed, no candidate
is fit for the office to which he aspires
Nogales international., 1934-05-05
ELM STREET SCHOOL NEWS

ELM STKEET SCHOOL NEWS
The wall around the Elm Street
School was started again on Tues
day, May l. Approximately Is men
are erecting the wall. Mr.. Mitchell
says he hopes the wall will be fin
ished soon. Mr.. Oscar Franzen is in
charge of the work
The Washington times., 1934-01-05
BANK RESERVES
SET RECORD

Excess reserves Of all Federal
Reserve member banks reached
the highest total on record at
more than $3.50. 100000 in the
week ended Wednesday, climbing
slightly above the previous high
total established several weeks
ago.
New York city banks had
$103 100000 of the total, a rise
Of $18,000,000 in the week, while
reserve balances of all member
banks rose $35,OOO,OOO in the
period.
The increase in excess reserves
was directly the result Of the
return .of $33,000,0OO currency
from circulation, combined with
a slight rise in the amount OF
Reserve Bank credit in use,
amounting to $14,0O0,00O.
The expansion of $4,000, 900 in
bills bought in the open market
by the Reserve Banks represented
only part of the total purchased
over the yearend, since re.
purchases and maturities since
the turn Of the year have reduced
the total from its peak.
Excess reserves are expected to
continue their rise without aid
from open market purchases of
bills or securities by the Reserve
Banks. The next few weeks
ordinarily witness a sharp drop
in money in circulation, as cur.
rency returns from use over the
Christmas holidays.
A year ago, 100000 of cur
rency came back to the banks
in the period corresponding to
the week ending next Wednes-
day. In mid-January, a year ago,
excess reserves reached a new
high at $650,O0O,O0O, approx.
mately half of which was held by
New York city banks.
The Washington times., 1934-01-05
Loss in Year ShOWn
Bu Federal ReSerUe

The Federal Reserve System
showed a net operating loss after
dividends and all charges OF
$4,000 in 1888, the weekly re-
port of the Federal Reserve
Banks today revealed.
This loss for the system con-
trasted with net earnings Of
$2,688,O0O added to surplus by
the Federal Reserve Bank of New
York, representing roughly
third of the system in volume
of assets, after all dividends and
other charges.
The net earnings credited to
surplus in 1882 were $19,178,850
for the system and $9,981, ,267
for the New York Reserve Bank.
The Washington times., 1934-01-05
FEDERAL BONDS
AIDED BY j. 5.
SUPPORT

NEW YORK, Jan. S U.N.S0-
Continued pressure on United
States Governments featured an
irregular bond market in the
forenoon today.
Losses In the Federal liens were
held to small proportions, largely
as a result Of treasury support
buying. Treasury 4As of AS lost
432 at 99.4, with lesser declines
sustained in Treasury 334s, Treas
ury 3AS; Treasury 33ss of 40.
Treasury 32ss Of Al, and Liberty
LIST 4As.
Rails were spotty, with frac.
honal gains in the Baltimore and
ohio AIS; Erie IS of ct, Nickel
plate AVS and Southern Pacific
41aS Of '69 offsetting minor de-
clines in the st Paul 5s and
Rock Island 4Rs A.
American and Foreign Power SIS
stood out in the domestic list
with squirt of a point to 37I5.
Atchison General Is and Amer.
lean Telephone SIS of '46 rose
fractionally in the investment
division.
Foreign issues were dull and
quiet.
The Washington times., 1934-01-05
Demand for Spots
Fair at LiUerpOOL

LIVERPOOL, Jan. S GN.SO.
There was a fair demand for open
ing spots in the Liverpool Cotton
Market today. Prices were steady
with receipts totaling 1000 bales,
including $500 American.
Midday prices saw middling fair
at 6.69d; strictly good middling,
6.24d; good midling, 5.94d: strictly
middling, 5.79d; middling, 5.64d;
strictly low middling, 5.49d; low
midling, 5.24d; strictly good ordi-
nary, Aid.
Futures were steady at the
opening. January was 5.35d;
March 5.34d; May 5.34d; July
5,34d: October 5.37d.
The Washington times., 1934-01-05
BROKERS LOANS
RISE IN WEEK

Loans on stocks and bonds to
brokers and dealers by reporting
Federal reserve member banks in
New York city increased $36,00o,-
900 in the week ended January 3
to a total of $8S7, 100000. This
compares with 1901 ,OO0,0O a week
ago and with $394,000,000 a year
ago.
Demand loans constituted $751;
100000 of the total. against $685.
100000 last week. Time loans were
$3.50, 100000, against $255, 100000
Loans on securities direct to
non-broker customers by reporting
New York city member banks de-
creased SIG, ,000, 900 to a total of ST.
OBS, 100000 in the period. This
compares with $1,051 100000 a
week ago and with $1,2o5, ,00O, 900
q year ago.
The Washington times., 1934-01-05
HES|TANT TONE
PREVAILS IN
GRAINS

CHICAGO, Jan. S d.N.S0.-A
hesitant tone prevailed in the
grain market today in early deal
ings with prices rather firm in a
narrow range as traders awaited
fresh incentive.
Values fell back to about the
previous close after opening frac-
tionally higher but there was a
lack Of pressure and the market
marked time for most part.
Near midsesSion wheat was 3sc
down to 12c up, corn unchanged
to Ac up, oats unchanged to 1ac
up and rye 3sc up.
May wheat sold at 84Hc, July
$3.50. May corn was quoted at SIC.
The Washington times., 1934-01-05
COTTON STEADY
AS DEALINGS
SLOW Up

NEW YORK, Jan. 5 GN.S0.
Cotton futures turned quiet to-
day after three sessions Of active
trading, but maintained a steady
tone at, or slightly below, the
previous close.
Thursdays gains were extended
slightly in initial dealings as the
list was stimulated by the firm
tone in Liverpool.
Reversed by Profit Taking
Shortly afterwards, however, q
continuous trickle Of profit tax
ing combined with q scarcity of
buying orders, served to send the
list below the previous close.
The market was buoyed by the
optimism of traders who inter-
preted the Presidents budget
message yesterday as inflationary.
They hold that the heavy ex-
penditures indicated could not
but help prices generally, some
Feeling that they tended more
and more toward expansion of
the currency.
Selling From South
The South and commission
houses were moderate sellers to-
day. Profit taking, attracted by
the sharp price advances re-
Gently, was a depressing factor.
Wall Street and the trade bought.
At noon, futures were off 8 to
4 points, with March off 4 at
1888, May off 3 at 1910, July
off 3 at 1924, and October off
4 at 11.01.
The Washington times., 1934-01-05
BILL AIDS HOME
LOAN BONDS

Building and loan associations
in the District would be author
lied to buy and list as assets bonds
issued by the Home Owners Loan
Corporation, under terms of a
bill introduced in the House late
yesterday by Byron N. Harlan
CD of Ohio, a member Of the
House District Committee.
Harlan also proposed to allow
local building and loan associa-
tions to exchange mortgages and
deeds Of trust for Home Owners
Loan Corporation bonds.
Passage of the bill would expe-
dite clearing up real estate con-
ditions caused here by refusal Of
brokers to accept the corporations
bonds, it is believed.
The bill will also set the value
of the bonds so Comptroller Of
Currency j. F. T. O'Connor will
be forced to recognize them at a
uniform price.
The Washington times., 1934-01-05

ing the dollar. I have pointed
out that the probable course will
be to write up" the dollar valua-
tion of the gold held by the Re-
serve banks.
But this can be done only when
the President finally decides upon
a permanent price for gold. Not
till then, can we give a stated
value to the gold reserve and
write it up" on the books.
This we can not do as long
as he intends to initiate prices
further. Our domestic prices
have risen only a small part OF
the way toward the goal formerly
announced by the President.
Position an Odd One
It would look queer to say that
the dollar is worth so cents in
gold, or that gold is worth $45.06
an ounce, when as a matter Of
fact the dollar actually exchanges
for 81 cents in gold and the world
gold market is $32 an ounce.
Obviously, the government
might lose if it were to pay the
high nominal price it has
"fixed" for gold, when the dol
lar actually buys almost as
much as formerly.
The President says: Careful
investigation and constant study
prove that. certain of our sister
nations find themselves so handi.
capped by internal and other con-
ditions that they feel unable at
this time to enter into Stabiliza-
ton discussions. ="
The Washington times., 1934-01-05
Dividend Flood
Is Continued

Dividend flow continues, with
one initial, one extra, one in
crease, one resumption, two
special and rs regular declara-
ti0ns in day. =. Baltimore and
Ohio Railroad calls nearly 5000
shOpmen back to jobs. Grain
exports for week higher than
q year ago. Northern Trust
Company, Chicago, nets $25.O2
profit per share in 1888. Car
l0adings for first quarter to
surpass those Of like period last
year by lis per cent, Atlantic
States Shippers Advisory Board
predicts. .WOOlwOrth, Kresge,
Grant and Neisner chain stores
report record ecember sales. :.
Cotton growers 1888 income
estimated double that Of pre-
viOus year. Wholesale price
index up O.6 per cent in week
ending December 30, Bureau Of
Labor Statistics reports.
The Washington times., 1934-01-05
Dollars Sterilization
Distant, Says Haney

He is certainly right when he
implies that this makes any final
sterilization of our dollar impoS-
Sible. Neither we nor England
can finally revalue our money
until we are in a condition to
make it "stay put"
Just Return to Standard
To revalue the dollar in gold
Is to return to the gold standard.
That, we have learned, cannot
work as long as budgets are badly
unbalanced and foreign trade and
exchange are restricted.
So the problem of deciding
what our gold is worth and tax
ing a paper profit on a mark-up,
can hardly be decided until we
revalue the dollar in gold, and
thus return to a gold standard.
Probably this will be preceded by
the establishment of a free gold
market.
But the conditions are far
from ready for these steps. Do
mestic prices are not up enough
to suit the Administration.
England will not cooperate as
long as our monetary expert
ments continue.
Personally, I do not think the
President states the reason for
the instability of the dollar cor.
rectly. The trouble is not with
sister nations, but with ourselves.
Rightly or wrongly, 1t is we our
selves who have undertaken to
"devalue" the dollar, and to buy
gold at arbitrary "prices."
Ready to Cooperate
You note that he says only
that investigation" and "Study"
show that other countries feel un-
able to stabilize. He does not
say that he has tried to get them
to cooperate with us in stabilizing
currencies and that they have
refused.
I think it clear that both
England and France desire
sterilization, and will help to
that end whenever we are ready
to cooperate.
But we are not going to see a
stable dollar, nor be able to write
up the Reserve Banks gold and
take a profit thereon for the Gov
ernment, until we have at least
accepted some general level Of
prices as satisfactory Cor inevita-
ble) and are ready to adopt some
definite monetary standard (prob-
ably gold).
The Washington times., 1934-01-05
Investment Trusts
Seek Director Rule
High Low 1.15

NEW YORK, Jan. S Q.N.SD.
The restrictions on interlocking
directorships in the banking act
of 1888 today led directors and
officers of investment trusts to
seek a ruling from the Federal
Reserve Bank on whether they
could maintain their bank posts.
This action was taken on adj
vice of counsel and was due to
the uncertainty whether the sec
ton of the law which applied
to investment banking and brok-
erage firms applied to the trusts
as well.
The Washington times., 1934-01-05
Comptroller Issues
Last 1888 Bank Call

Comptroller of the Currency j.
R. T. O'Connor today issued a
call to all National and State
banks and trust companies in the
United States, Hawaii and Alaska
for a statement of conditions as
Of December 80, 1888.
While the call is an annual
routine, the present one is of far
more Importance than previously
because of the fact that it is the
last statement to be made before
the banks of the country come
within the provisions Of the
Banking Act of 1893.
The Washington times., 1934-01-05
Hog Market ActiUe
And Prices Hiuher

CHICAGO, Jan. S QN.S0
Hog receipts were $4,000 today,
which included $4,000 sent direct
to packers. The market was ac-
tive and strong with most sales
10c higher than yesterday. Top
reached $3.50, and some light
weights were held higher. Most
of the good hogs went at $3.40 to
$3.55.
Cattle receipts were 1000. Quail.
ity was plain and prices steady.
Nothing choice offered. Light
weight steers are Is to 40c higher
than a week ago and the heavy
are Csc lower. Cows and heifers
sold steady to weaker. Stockers
and feeders were steady.
Best lambs were held at So.
The Washington times., 1934-01-05
PRICE CHANGES
. FEW IN QUIET
CURB LIST

NEW YORK, Jan. 5 UN.SO.
The curb market churned around
irregularly in quiet dealings to-
day, with price changes in the
majority of speculative favorites
showing few important variations
from previous cloSings.
Utilities were sluggish, with
Electric Bond and Share easing
2s to 11s before firming. other
active power and light shares
marked time, for the most part.
Metal Shares Steady
Metals were unable to extend
their last-minute run-up of yester-
day, although Lake Shore, Bunker
Hill, Pioneer and Hollinger were
we'll taken around previous clos
ingS.
Singer Manufacturing showed
up most favorably in the special
ties, with an upturn of 1A points
to 1601a. Novadel Agene, rose
"a to 5934, while United MolasSeS
attracted attention in the low
priced classification by opening "
higher on a block of 10000 shares.
Oils a Shade Easier
Atlas and Pennroad held about
unchanged among the investment
trusts, while Standard of Indiana
and Standard of Kentucky were
both a shade easier in the oils.
Cities Service common eaSed
to 2, and the debentures lost 70
at 3034.
Utility bonds were dull, with
Puget Sound Power and Light
AIS rallying 5s to 381a.
The Washington times., 1934-01-05
WESTERN DAIRY PRICES

CHICAGO, Jan. 5 IN.s.).-Butter:
Receipts, 747S tubs: market firm. Old
cars, 2; new, Z. Creamery extras and
standards, 17Ac; extra firsts, 1910;
firsts. 16A @16hc: seconds, 15hc; spe-
cials. 17h @1SHc.
Eggs-Receipts, All cases: market
firm. New cars, /. Ordinary current
receipts. 1870; fresh graded extra firsts,
22c; fresh graded firsts, 21c; dirties and
checks, 12@15c
Cheese-Twins, .sh @1Oc: daisies and
longhorns, 1O@10hc.
The Washington times., 1934-01-05
New FOOdMdex
Rise ShOwn

NEW YORK, Jan. S Q.N.S).
Continuing the sharp forward
movement of the previous week,
the weekly food index compiled
by Dun & Bradstreet, Inc, made
a further slight gain for the
first week of the new year, it
was reported today.
The index for January 2
stood at $1.93, one cent above
the preceding weeks figure,
which in turn showed rise of
cents, bringing the current
index to the level Of three weeks
ago. The index for the compare
tive week of 1888 was $1.63.
The Washington times., 1934-01-05
REQ Shipments Rise
As PEI Cent III Year

REQ Motor Car Company's 1888
shipments of passenger cars and
speed wagons have made a gain
of As per cent over the 1882 OUT
put, according to R. H. Scott,
president.
Export business, particularly Of
commercial vehicles, has been es-
pecially good. Total REQ exports
for 1888 have exceeded those for
1882 by better than a three to
one ratio.
Activity during the last three
months has been at much higher
level than usual during the end
of the year and the REQ Motor
Car Company looks for continued
improvement during 1884.
The Washington times., 1934-01-05
Union Bag e Paper
P1us After 10 Years

NEW YORK, Jan. 5 Q.N.SO.
Union Bag g. Paper Co. directors
yesterday voted the first dividend
on the common stock since 1924
by ordering a payment of 81 a
share.
This followed the statement Of
Alexander Calder, president, last
month, when dealings in the
stock were being investigated by
the Stock Exchange authorities,
that a dividend on the stock
would be paid in January.
The Washington times., 1934-01-05
American Plants
Gaining in Canada

Prosperity note-Toronto's IN"
dustrial area added % branch
factories of Canadian origin
in 1893. Of these 81 were Ameri-
can, two were British.
These figures, reported to the
Commerce Department, repre-
sents a gain over 1882, when 15
branch factories were added.
AS a result of the additions in
1893, about 500 Toronto people
are on payrolls who weren't on
before.
The Washington times., 1934-01-05
KeLUi1atOr Profit
SeptuDLed for Year

Kelvinator Corp. reported for
the year ended September 80 a
net income Of $723,561 after
charges and provision for Sis, 900
possible loss due to closed banks.
This compares with net in
come Of $102,701 in the preceding
year. Per share earnings were
64 cents against 9 cents . year
ago.
The Washington times., 1934-01-05
Pennsylvania Road
Increases LOGdingS
BY International News Service

The Pennsylvania railroad in
the week ended December 80,
handled on it's own lines 44,715
revenue freight cars against 40,-
994 cars in the like 1882 week,
an increase of 8 per cent, in the
preceding week own line loadings
of 51,546 cars were IT per cent
over 1882.
Total loading on the Pennsyl-
vania amounted to 68,868 cars
against 80,552 in the preceding
week and 63,311 in the like 1882
week.
The Washington times., 1934-01-05
ERIE LOAN o. KID

BY International News Service
The Interstate Commerce Com
mission today approved the expen-
diture by the Erie Railroad of a
$11,845,750 loan from PWA, and
that of the Lehigh Valley of $2,-
1899.
The Washington times., 1934-01-05

One Is that
Roosevelt said
nothing about
his determine
ton to raise
price Th e
other is his as
sertion that we
can not "sta-
bilize" now be-
cause of foreign
conditions.
Lie pODLcA
Of what to do
with our gold
hoard, is essen
TALLY the prob
lem of revalu-
The Washington times., 1934-01-05
LackaW0nnQ Income
Off, But Assets Rise

Delaware, Lackawanra & West
ern Railroad in it's statement for
the year ended September 80, re-
ported net income of $59,571 ,551
as compared with 62,763 ,401 in
the previous year.
Total assets as of September
80 were $213,343,463 against
$211 ,843,784 a year ago.
The Washington times., 1934-01-05
Stocks on London
'Ch1nqe Close Firm

LONDON, Jan. 5 G.N.SD.
Stocks closed firm on the London
Exchange today, with industrialS
and oils the most active classes
on the list. Transatlantic shares
finished in good style.
The Washington times., 1934-01-05
PACIFIC FRUIT EXPRESS

An increase in surplus is re-
ported by Pacific Fruit Express
Company and Union Pacific Rail-
road, Of 100000 during Septem-
ber and October.
The Washington times., 1934-01-05
NEW YORK WOOL

NEW YORK, Jan. UN.S.).-wool,
steady, domestic fleece, unwashed,
Chic & Penn, 28@43; domestic pulled,
secured basis, 67@1OO; domestic Texas,
clean basis, 72@86; domestic territory,
clean basis. 65@S7.
The Washington times., 1934-01-05
BY LEWIS HANEY
professor of Economics
NeD York UniOerSitu.)

Two points concerning the
Presidents message have a bear
ing on the question, what is to
happen to our gold reserve?
The Washington times., 1934-01-05
NAVAL STORES

NEW YORK, Jan. s (I.N.s).-Lin-
seed oil per lb., 9.5 carlots. Turpentine
firmer, 5095OA. Rosin. firm common,
The Washington times., 1934-01-05

Aero Supply B 5000.
Air Investors ct ....
Alab Pwr $6 pf ....
Alum Co of Am ....
Am Beverage ......
Am Capital cum pf.,
Am Cities Pwr B....l
Am Cyanam B ....,
Am F Pw WITS ss..
Am Gas & Ell s...o.l
Am Light & T ......,
Am Pneu Svc s...s.I
Am Superpwr ......I
Am Superpwr pf. ...I
Anchor Post Fence...
Ark Natl Gas A..s..
Armstrong Cork .....,
Assoc Gas & e A....I
Atlas Corp .......ss..
Axton Fisher A......
Blue Ridge ......s...
Bridgeport Mach ....
Brillo Mfg ...........
Brit Am Oil coup.
Brit Amer TOb B.
Brown Forman Dtstill
Bunker Hill ..........,
Camden Fire Ins .....
Can Ind Ale A ........I
Cana Marconi ........
Carib Synd ...........,
Carrier Corp .........
Celanese of Am Z pr. :.
Cent sta Ell ..........
Cities Serv ...........
Colum G&E CIV pf.
Cons Aircraft ........,I
Cons Copper M .......,
Cons Gas Bait ........l
Cord Corp ...s.......,
Corroon & Rey .......l
Courtaulds Ltd ......
Crane pf ............
Creole Petrol ........I
Crocker Wheeler .s....I
Crown Cent Pet ......I
Evening star., 1934-09-05
NEWS WRITER'S
|. DEATH IS PR0BED
Chest Bruises Found on
Body of Harry L. Rogers.
Autopsy Planned.

An autopsy was to be performed
today to determine the cause of the
death yesterday in Gallinger Hospital
of Harry L. Rogers, As. Washington
newspaper correspondent.
Coroner A. Magruder Macdonald
ordered the autopsy after the homi-
eide squad and hospital officials re-
ported to him the body bore chest
bruises. Rogers was admitted to the
hospital August %. He had long been
in Ill health.
Rogers lived in the McReynolds
Apartments. His widow lives in New
York City and has been notified by
police of his death.
A former owner of the Foreign Al
fairs News Service. Rogers had been
a Washington correspondent for 20
wears and was widely known for his
coverage of the State Department. He
was connected with International
News Service for a number of years.
He was a graduate of Harvard Uni
versity. During the World War he
served as a captain in France and was
gassed subsequently losing one lung.
The Mexican revolution shortly be-
fore the World War brought him Ma
tion-wide prominence. While cover
ing the disturbance he was thrown
into Jail by Mexicans because of his
writings and there was attacked and
seriously injured by another prisoner