davidaulloa/AmericanStories huggingface dataset:
Evening star., 1936-11-22
BOOM IN COTTON
GOODS CONTINUES
ON SOUND BASIS
Current Buying Wave Even
Bigger Than in Late 1919
and Early 1920.
BY j. G. DONLEY.
Special Dispatch to The Star.

NEW YORK, November 21.-The
cotton goods business is going like a
house afire. Along Worth street, which
is the locality where cotton textile
merchants of large and small degree
have their business houses, the
denizens are as busy as beavers. Those
merchants say that the current buy
ing wave in gray goods. in print cloths
and all the other items that make the
wheels 60 round at the cotton mills Is
even bigger than that Of late 1919
and early 1920.
That may sound like an unfortu-
nate comparison. For, after the So
called postwar boom in peace-time
commodities, came the swift and
short-but so sharp that it cut in
ventory values like a knife-com-
modify price panic of 1920-1921.
Hardly a manufacturer or merchant
then alive has yet effaced from his
memory the soaring scars of that COL
lapse in quoted values.
Differences Apparent.
But today's boom in cotton textiles
has several points Of difference from
1919 and 1920. For one thing, prices
are on an entirely different scale
The insistent World War. demand had
put prices ona blown-up basis, and in
1920 raw cotton staple sold for over
40 cents pound. In the following
year 1t dipped to around II cents q
pound. Cotton is currently selling at
about IL cents . pound, and is not
overpriced. To compare 4 typical
piece Of goods, take the construction
known In the trade as "36-inch, $3.50,
4-yard sheeting." In 1920 such cotton
cloth sold as high as 26 or n cents
yard Today the price Is firm around
8 cents a yard.
. Production Is also quite Q different
story today as compared with the
previous period of boom buying 16
years ago. Stocks of merchandise
have been depleted by subnormal
production in five years out Of the
last six. And during that period prac-
tically every buyer of cotton goods
has followed the practice-taught
by the hard lesson of 1920-192l-of
limiting purchases to hand-to-mouth
proportions. All the goods needed to
accommodate that kind of buying
seemed to be available, and because
prices were not advancing there was
no incentive to buy ahead.
Mills Sold Out.
All that was changed when the Sec
ond Government crop report of the
past season indicated Q considerable
reduction in the crop. For the first
time IN Is years, with buyers clamor-
ing for goods, the selling agents for
cotton textile mills climbed back into
the drivers seat, and the buyers lost
the whip hand.
Nearly every mill Of any conse-
quence Is now sold out for Is to 20
weeks in advance.
That means well over the first
quarter Of next year. One large tex
tile concern, catering largely to in
dustrial users of heavy cloths, told
the writer that it was sold up tight
until next April and could sell much
further ahead, but was q bit hesitant
to make longer commitments because
Of rising wage and other costs.
(copyrighs. 1936,)
Evening star., 1936-11-22
COMPANY
STOCK AVERAGES RISE

srecial Dispatch to The Star.
NEW YORK, November 21.-The
Investment companies common stock
price index advanced last week, as evi.
denced by the averages compiled by
Distributors Group, Inc;
The average for the common stocks
Of 10 leading management companies
Influenced by the leverage factor stood
at 1850 at the close Of November 20,
compared with 1924 on November l3.
The average Of the mutual funds
closed at l7.64 November 10. compared
with 1853 ct the close Of ths pre-
vious week.
Evening star., 1936-11-22
BY LEONARD J. REID.
} Gable IN The Star.

~ Caple 70 Tne 5tst'
LONDON, November 21.-An inter-
esting week in the financial markets
ends in . more subdued tone, with
moderate profit-taking due to two
factors-first, the renewed menace to
European peace. with French anxie-
ties on this score intensified by the
Salengro sensation, reviving danger
to the Blum government, and, second,
the recession In Wall Street following
the new Security and Exchange Com
mission restrictions.
The weeks volume Of business in
the security markets was large but
not abnormal. Price changes gen.
orally were comparatively narrow. At
the opening Of the week the principal
influence was President Roosevelt's
warning on foreign speculation IN
New York, but this factor became
steadily weaker until Thursdays news
Of the Security and Exchange Com
mission activity.
Tbs Aeitish eovsgnment 1i0o, ,000.-
Evening star., 1936-11-22
special Dispatch to The Star.

NEW YORK, November 21.-Point-
ing out that rising securities market
inevitably provides the background
necessary for the questionable promo
tions of stock racketeers, the current
issue of the Financial World sounds q
warning note against tipsters In the
present market.
Present-day tipster methods thrive,
according to the publication, because
there remains section of the invest
ing public which believes that there is
a shortcut to certain market success
involving a minimum Of effort.
"Most common Of the methods used
by the more astute tipster is the pro-
motion Of q stock after an option on
the issue has been obtained" says the
Financial World.
"Tlae stock Is optioned at Z price
comparing with the current market
Evening star., 1936-11-22
HOLDERS APPROVE
GOODYEAR CHANGE
Plan Provides for New Senior
Preferred Issue With Con.
version Rights.
BY the Associated Press.

BY the Associated Press.
AKRON, Ohio, November 21.-
Goodyear Tire g. Rubber Co. stock
holders approved today plan for ad-
justment of arrearages on preferred
stock dividends and for the rearrange-
ment of the company's capital stock.
The plan is subject to action by the
directors, who will meet Monday.
The plan provides for the issuance
of new senior preferred stock bear
ing accumulative dividends at the
rate Of S. share and carrying the
privilege of conversion into common
shares at the initial rate Of three
shares of common for one Of new
preferred.
The new senior preferred is offered,
the company said, in exchange for
the present 81 first preferred at the
rate of one share Of new preferred
and one-third share of common for
each share Of the old preferred.
Evening star., 1936-11-22
SUGAR MELT SMALLER.

NEW YORK, November 81 R.-
Sugar melt Of the Is United States
renners from the start Of 1885 to Mo-
vember II was 3,53s. 900 long tons.
TO November 10 last year total was
3,e4o. 900 tons. Deliveries In the period
this year were $500 900 tons. and last
yeaf I, 80, 900 tous.
Evening star., 1936-11-22
BUSINESS ACTIVITY
EQUALS OCTOBER MARK

BY the Associated Press.
Taking account Of seasonal varia-
tions, the Commerce Department says,
business activity thus far this month
appears to be at least equaling its
relatively high October record"
Steel ingot production has shown
only a small decline from October, it
is said, automobile production has been
stepped up, retail sales have extended
October gains and higher wages and
bonus distributions have increased
purchasing power.
Evening star., 1936-11-22
NAMED BOND AGENT.

NEW YORK, November 21 Especially. /.
National City Bank Of New York an.
nounces 1t has been authorized to sc-
cept up to November 80, 1886, City
Of Rotterdam 8 per cent bonds Of
1864 for transnittAl to agents abroad
to b converted into ( per cent suilder
bonds, pursuant to published notice
dated November -, lo3e.
Evening star., 1936-11-22
GASOLINE TAXES SOAR.

NEW YORK, November 81 (R.-The
average price Of gasoline in so cities
dropped from 21.06 cents gallon in
1928 to 14.06 cents a gallon as Of Oc-
tober 1, 1896, the American Petroleum
Institute announced today. Taxes on
gasoline have risen, however, the in
Stitute reported, from an average of
81 cents a gallon in 1923 to 5.34 cents
this year.
Evening star., 1936-11-22
RAIL BUYING EXPECTED
TO SET 6-YEAR RECORD
Orders Hit $50 Mark i'm Ten
Months Compared With 83 for
All of Last Year.

motives reached $50 in the first 10
months. compared with 50 for the
whole Of last year.
Freight and passenger car orders
have shown q similar increase, those
for freight cars numbering 3s,664,
against 1889 for the whole of last
year and for passenger cars lag,
against So in all 1888.
Inquiries are outstanding. the report
continued. for l55 additional locomo-
tives. 1900 freight cars and 1S pas
senger cars.
Evening star., 1936-11-22
Crane Co. Votes
Sl5.75 a Share on
Preferred Stock
By the Associated Press.

CHICAGO, November 21.-Crane
Co. directors voted $l5.75 q share divi-
dends on the preferred stock, includ-
ing $14 q share on account Of accumu-
lations. payable December is to stock
of record December l.. The distribu-
ton will involve s2.2s7,752. The diyi-
dend reduced arrearage to $8.25.
Evening star., 1936-11-22
WIEBOLT EXTRA VOTED.

CHICAGO, November 81 @.-
Wiebolt Stores, Inc, announced an
extra dividend of IS cents on the
common stock in addition to the reg
ular quarterly of IS cents. They ag-
gregate $158,114 and will be payable
December 2 to stockholders of rec
ord December %. The usual pre-
ferred stocks also were declared.
Evening star., 1936-11-22
BY the Associated Press.

NEW YORK, November 21.-Rail-
road purchases Of rails and equipment
for 1886 promise to be larger than for
any year since 1880, the American
Iron and Steel Institute reported to-
day.
Production Of rails and fastenings
during the first nine months of the
year totaled more than 1890, 900 tons,
the report said, exceeding the output
for the corresponding portion of last
year by 78 per cent. Orders for loco
Evening star., 1936-11-22
CLEARING HOUSE ISSUES
REPORT AT new YORK

By the Associated Press.
NEW YORK, November 21.-The
weekly statement of the New York
Clearing House shows: Total surplus
and undivided profits, $836,531 800
(unchanged); total net demand de-
posits (average) s25, ,088 900 (increase);
time deposits (average) s7,74S,000 (in-
crease);, clearings week ending today,
$4,358, $50 ,597; clearings week ending
November IA '$3,954.105,475.
sFfve days. ts...-
Evening star., 1936-11-22
Tool Steels Advanced.

CLEVELAND. Ohio, November 81
P.-Daily Metal Trade today says:
Leading producers of tool steels
have announced price advances on
their various grades effective Janu-
ary /.
Increases range upward from $40
per ton on carbon tool steels to $50
per ton on high-speed tool steels No
announcement has yet been made by
steelmakers on the general line Of
common carbon steel products for the
first quarter of next year. However,
broad price increases are expected to
be named momentarily.
In well-informed quarters it is said
semi-finished material will be ad-
vanced 50 ton; bars, plates and
shapes, So; strip, So; sheets, 81; wire
nails, 81 or IS, and sharp increases
are also expected on other wire
products.
Evening star., 1936-11-22
c. &E.
EARNINGS down
12-Month Net at $1,917,294
Against $2,1N,610 for
Previous Period.
By the Associated Press.

CHICAGO, November 2l.-Stari-
dard Gas & Electric Co. today reported
net income for the IL months period
ended September 80 of $1,917,294,
compared with $2,104.610 the CORES
ponding previous period.
Consolidated net income Of the COM
pany and subsidiaries was $3,622, ,419.
Bernard w. Lynch, president, said the
difference between this figure and
Standard Gas net represented the por-
ton of undistributed net income of
subsidiaries applicable to stocks held
by Standard Gas. He said directors
of the subsidiaries were expected to
consider before the end Of the year
ALLEGATION Of these earnings. For the
period, approximately 100000 of these
earnings were allocable to other than
common stock dividends, he said.
Consolidated net of the company
and subsidiaries the previous IL
months period was sl.so42s7.
Caterpillar Tractor
Caterpillar Tractor Co. today re-
ported net income for the 10 months
ended October 81 was $7,736, ,i91, equal
to SAIL q common share. compared
with $4,7l4,07s, or $3.50, the cores.
ponding 1885 period. Net sales totaled
$45 ,s72 ,939 against $50 .261 ,5Ss.
International Hydro.
NEW YORK, November 81 (R.-ln-
ternational Hydro Electric system. con-
trolling operating public utility prop
critics serving areas in New England
and parts of Canada, reported for the
12 months ended September 80 con-
solidated net income Of $49s. .o6l. equal
after allowing for dividends on the
$3.50 convertible preferred stock to l
cent a share on class A stock. against
$1.l76,O or 81 cents share on class
A stock for the preceding IL months.
South Puerto Rico Sugar.
South Puerto Rico Sugar Co. re-
ported for year ended September 80
net income of $2,635,1 ,1S0. equal after
preferred dividend to So share on the
common stock, against $1,755.ss or
$l.82 q share in the preceding fiscal
year.
Evening star., 1936-11-22
EXPENSES To SOAR
AT STEEL PLANTS
IN COMING YEAR
Price Rise of as Much as SIS
a Ton Held Necessary
to Maintain Nets.
Ey the Associated Press.

YOUNGSTOWN, Ohio, November
2l.-The Youngstown Vindicator said
today in an analysis of increased costs
in the steel industry that an average
price increase of as much as SIS ton
would be needed if earnings next year
continue at this years level.
The increase probably will not be
so much, the paper said, because exec
utives feel that a heavy increase would
reduce consumption too much. With
less increase, however, the steel COM
panies face a lower rate of earnings
next year.
Taking the business of the Youngs-
town Sheet & Tube Co., as a basis
the paper said that the recent wage
increase will mean an added $780,
600 to next years pay roll. An ad-
ditional 2 per cent to the social Sc
curity fund will add 100000.
Scrap Prices Higher.
The price of steel scrap now is 81
a ton higher than the average for
the year. and if production next
year Is on the same basis as this
year scrap will cost $4,000. 900 more.
Prices of supplies and materials will
be affected by wage increases similar
to those granted the steel workers,
adding another 81 100000.
Estimating Sheet e. Tubes ship
ments this year at 10000 tons, the
paper said the total prospective in
crease in costs of $1,000, 900, will mean
an increased cost of $3.50 per ton next
year, at the same rate of production.
Operating executives believe the
price increase should be around IS
ton, to cover further prospective
increases in costs.
Evening star., 1936-11-22

(see BUSINESS, Page G-2.)
Imperial Valley press., 1936-07-14
POWER PLANT SERVES SO3 PLACES
IN BRAWLEY; MORE ADDED DAILY

for the power company featured
on the programs of many of them
in every valley town.
The extent to which inroadS had
been made on the company power
load at BraWley was not announc-
ed. Neither was the number of
customers lost to date according
to their books, nor whether any
customers had gone over to the
district but returned to the com
pany.
It was not known at late hour
Tuesday, the number of persons
who had bought appliances from
the company on terms specifying
that they continue purchase OF
company power.
According to R. P. Moore, vice
president at El Centre, the COM
pany has made nc reduction in
organization personnel at BraW-
ley as a result OF the loss of pa
tronage to the district.
Imperial Valley press., 1936-07-14
New Espionage Case
Inuolues Ex Naval
Officer With Japan
(Continued from PAGE y

Continued from Page y
probably arose from the fact the
naval attache, Capt. Tamon Yama-
guichi, was supposed TO have re-
turned to Japan this summer but
remained here to supervise the
japanese training squadron's tour
of east and west coast ports.
Commander Bunjuo Yamaguehi,
assistant japanese naval attache,
said he did not know Farnswcrth.
i know nothing Of the case and
I do not know FarnsWorth," Yama-
guchi said
The japanese naval attache, Ia
mon Yamaguchi, could not be
reached
The warrant calling for Farms
worth's arrest charged violation Of
Section 80, Title so of the Grim
inal code of the United States. This
is the espionage section.
Farnsworth has been under sur
veillance for a year, Capt William
D. PuleSton, Of the naval intelligence
service, revealed in making known
the former navy officers arrest.
Naval intelligence officers, Puleston
said, had been trailing the former
naval officer for two months
Department OF justice agents were
called IN on the case two months
ago when FarnSworth allegedly
sought 10 obtain possession Of secret
papers at the home Of a U. S. naval
academy officers home during the
officers absence.
Imperial Valley press., 1936-07-14

and Socialists lined the Champs
Elysees, brandishing their clenched
fists and singing the Internationale.
Nationalists, in groups large and
small, sang the Marcellaise.
Police and Republican guardSmen
kept the left wing men behind the
barriers erected in expectation of
trouble. and kept them from the Ma
tionalists
As soon as the review was ended,
left and ring wing men formed col
umns and tried to parade them
selves. They were dispersed with
out serious trouble by the crack mo
bile guardsmen held in reserve. But
the day was young and the new pop
ular front left wing government OF
Premier Leon Blum was anxious.
For the occasion. because Of bit
ter feeling, the government mobiliz-
ed special force of $500 mobile
guards. 5000 uniformed policemen
and 1l00 plain clothes policemen,
most of them in the Champ Elysees
district where the celebratory par
ade to the Arc de Triomphe was
held.
A veiled warning OF left uprising
in France if the opposition to the
popular front government refuses to
conform TO the need for national
unity was voiced by Premier Leon
Blum in a speech to tens of thous-
ands of demonstrators maSsed in the
Place de Ia Nation.
Blum referred significantly to the
possibility of a recurrence of the
bloody rioting of February, 1884 He
said:
Among the reactionaries-even
among certain too-pusillanimous
Republicans-it is imagined that the
popular front is petering out and
that the forward march soon will
hit an obstacle This is a grave
and perilous error which can cost
the country dearly =.
Thousands and thousands Of men
are here, many Of whom were here
on Feb. y, 1884, and they would rise
up tomorrow with a single fervor if
it is necessary to defend the repub-
lie against factious elements"
He pleaded for continued unity
behind the government and warned
against rightist efforts to WOO the
radicals from their policies and dis
unite their coalition.
Imperial Valley press., 1936-07-14
San Francisco
Board Protests
Against Picture

SAN FRANCISCO. July IA. up
The city board of supervisors today
voted to register official protest
against the grossly and ridiculously
exaggerated scenes" of the 1906
earthquake and fire here, as depict
ed in the motion picture San Fran
CISCO"
The picture, the protest says, gives
the impression that San Francisco
is a city "in imminent danger of
being destroyed by earthquake" and
Injuries the city financially and com
mercially.
The supervisors ask the producers
either to eliminate the earthquake
scene or change the title of the film
1t previously was reported, entire
ly unofficially. that the picture pro-
ducers had been angling for this
form of publicity"
Imperial Valley press., 1936-07-14
SociaIite Sought
As Mystery Girl

Continued from Page d
car Immediately after the mishap
and vanished Police have been
seeking her. =,
Di Cicco told detectives he had
dined at d supper club with Hughes
and the young woman.
Her name was Nancy; she was
rom Pasadena, and she was not
a motion picture actress" Di Cic-
co said. L cannot remember her
last name" -,
He said Hughes had drunk only
about half a glass of Champagne
and was stone sober when he and
the girl left.
Detectives said they hoped to
locate the girl before the inquest
tomorrow when Hughes will ap-
pear and give his version OF the
accident. he victim, Gabe S. Mey-
er. was killed almost instantly.
Imperial Valley press., 1936-07-14
POLICE CHECK
HORROR STORY
IN MUTUATION

WASHINGTON. July IA. UH-
After IA hours of relentless oues-
tioning of Margaret Louise Bell, po-
Ice today predicted an important
break SOON in her lurid tale of
gang vengeance" mutilation
Detectives who have sought for az
hours to check apparent inconsist-
encies in the party girls story in
dicated they believed they were
making progress.
Chief of Detectives Bernard
Thompson. assisted by three New
York detectives and half a dozen
Washington police have checked ev-
cry angle of the girls strange story
of an intruder who carved the in
itials &C. L and the numerals g.
-" on her abdomen early Sunday.
Thompson said he expected three
men-two in New York and one in
Washington ordered arrested
would be apprehended any time
now"
Imperial Valley press., 1936-07-14
DAIRY PROGRAM
ARGUED AFTER
PLANS OFFERED
lContinned from Pc .

Continued from PAGE y
w Lott. manager Of the Mix Pro-
ducers association Of Holtville, when
he was informed of what tran
spired at Mondays session
Supervisors were informed that
the SO cents per pound of fat to
be paid in coast markets. would
be of great benefit to the dairymen
Of Imperial Valley. Lott insisted
this sum would not bring valley
dairymen a net profit above returns
they now receive locally.
GrCn2 Proposed
ORGANIZATION of a da:rymen's as
SOciation TO see what may be done
to obtain contracts in coast mar
kets was described to the supervi-
SorS. In discussing this plan. Lott
expressed the opinion that it would
be well f2r the dairy problems of
the valley TO be Ief5 TO the dairy
men themselves.
Organizations or individuals ig-
norant of the dairy industry" de-
clared Lott, would do well to let
the dairymen themselves work out
their own problems"
The board said it was not within
its province TO take charge Of the
dairy industry but agreed to con-
slider recommendation and plans
scheduled tc be presented by the
committee at the meeting next
Monday.
Lott pointed to a decrease of 40
per cent in butterfat production in
Imperial Valley during the past two
years. In 1888 a total Of 5,948. 900
pounds was produced. 4570.000 in
1884 and 3.l70,000 in 1885, he quoted
from reports Of the state depart
ment of agriculture.
No Shortage
The tubercular clean up in south
ern California resulted in many
cows being shipped out of the val
ley, he continued. with Les Angeles
buyers taking cows out every day
to make replacements in the herds
in Los Angeles county.
The plants of the valley are run
ming at small percentage of
~dPaN4ls oGNG4 dl lldNC lllC4 tdoGu
the number Of their products. ac-
cording to Lott, there is a decrease
in the volume of the individual
items.
Lott said there is no shortage Of
market milk and market cream in
the Los Angeles markets and had
not been during the last two years.
He predicted that a shortage this
year would last no more than so or
80 days.
Need More Diaries
He explained that valley dairy
men would have to put in mechan-
ical cooling equipment to meet Los
Angeles market requirements. at a
cost of $500 to $1,000, establish a
central depot for weighing and
Sampling milk and hold the milk
in cold storage until shipped by
truck or rail.
we need more dairies before we
can afford to look for outside mar
kets." concluded Lott. IF we had
a surplus Of milk, it would be a
grand idea to look for a market
for the surplus. Since we have not
enough milk TO meet requirements
at home. it seems silly TO me to
propose hiring a man to be paid
by the county to find a market for
something we do not have to sell"
Imperial Valley press., 1936-07-14
PAY HOSPITAL
PETITIONS TO
BE FILED SOON

decentralization petitions were or
dered to be filed in Imperial county
Immediately. according to instruc-
lions telegraphed to Scott b. Foulds,
manager of the farm bureau by
R L. Miller. attorney for the farm
bureau
The petitions were circulated in
the county by the farm bureau and
the home department as means
Of getting permission for the county
supervisors To permit the county
hospital 10 take pay patients.
Miller told Foulds to have the
c unity clerk certify the petitions to
the secretary of state not later than
July 20.
Formerly il had been decided not
to file the petitions at this time.
Imperial Valley press., 1936-07-14

been attempting to purchase large
quantities Of all commodities grown
in the middlewest but had found
it impossible to get all that is
needed. Cox said about 25 per
cent Of his stores future orders
are being filled.
Chain store managers declared
no price changes had been ordered
from headquarters in the prices
asked for bread or for other com
modities. Several expressed the
opinion, however, that the drought
cause a rise in prices at a later
date.