davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1938-09-13
MANUFACTURERS
REDUCE STOCKS

NEW YORK, Sept. 13.-Manu-
facturers and distributors in the
United States reduced their stock
of goods $1,250, 100000 in the first
six months of this year by selling
more than they produced.
Whether inventories generally
have been curtailed sufficiently to
dictate expansion of industrial
production in coming months is
a question business analysts have
been pondering. Some have con-
cluded sufficient progress has
been made to expedite recovery.
Total inventories were esti-
mated at $20,258,O00, 900 on June
80 compared with $21, ,481 900, 900
at the end Of 1887, $18,477, 600, 900
at the close of 1886 and SIG, 6,2O8,-
100000 at the end of 1885.
Rising prices accounted partly
for the increase in the dollar
totals in 1887 and 1886. In the
first half of the year, wholesale
prices on the average dropped AZ
per cent.
The figures pointed to a slower
rate of decline than was recorded
in other surveys which covered
less ground, especially among
smaller concerns, the agency said.
The Washington times., 1938-09-13
FARM PRODUCTS
Level Up;
INCOME LOWE Err

NEW YORK, Sept. 13.-The
price level of farm products rose
in July for the first time in a
year, despite the depressing effect
of a seasonal increase in the guam.
tity of products marketed.
The price level in July, however,
was still 23.9 per cent lower than
in the same month last year when
the index was 85.6.
PARTIALLY OFFSET
This price reduction was only
partly offset by an increase Of 81
per cent over a year ago in the
quantity of farm products mar
keted.
Despite the inflationary squirt
in July, the amount of initiation
prevailing was less than that Of
a year ago. This accounts for the
fact that prices were depressed to
a greater extent than the increase
in the shipments of farm products
INCOME SMALLER
Cash income from farm market
ing in July was consequently 17.7
per cent smaller than in the cor
month last year, de-
to $609, 900. 900 from $74O,-
$1,000.
This was a relatively greater
decrease than in the previous
months Of 1898. This is shown by
the fact that, for the first seven
farm income from mar
ketings totaled $3,693, 100000 this
year as against $4,238, ,000, 900 last
year, a decrease of only 1873 per
cent.
The Washington times., 1938-09-13

inch minimum. 6O@75c; 2h-inch mini
mum, S54 soc, Jonathans, A-inch mint
mum. 75@S5c; 2h-inch minimum. soc g
81; Delicious 2A-inch minimum: ?5@
S5c; h-inch minimum. $1.15@1.25; NC
Intosh, "a inch minimum, 75@ S5c; 2ia-
inch minimum, 90c 81. Boxes: Nlr-
ginia, Delicious, combination extra fancy
and fancy, 11Ss-16Ss, $1.40@1.75; S4s-
@1.5O: 64s-1OOs, $3.50. few $1.76@2; NC
Intosh, u. S. No. /, all Sizes s1.25@
$50; fancy grade. all sizes, $3.50 % l.1O. ID
Cantaloupes - Market steady. one
broken cars on track. Colorado, salmon
meats, jumbos 27s, $3.50; jumbos SSs
and ASS. $2.75QS; jumbo flats lis anu
l2s, $1@1.15.
Pears-Market dull. One California ar
rived; 8 broken and l unbroken cars on
track. Bushel baskets, U. S: No. l. New
York, Bartletts, Pinch minimum. $l.25;
Seckels 1h-inch minimum, 81 20.
Potatoes-Market slightly stronger'
Truck receipts moderate; 1OO-lb sacks,
U. s. No. /, Cobblers, Pennsylvania, 81;
New Jersey, $1@1.10; Russet Buroanks'
Idaho, $225@2.5O.
Cabbag ge-Market steady. No carlot ar
rivals; broken car on track: New YORK
sylvania, 1h-bushel hampers Domeslc
Peas-Market steady. One Idaho ar.
rived; broken and / unbroken cars or
track. Bushei hampers. Telephones, SoI
orado, S202.15; Idaho and California
$225
Lettuce-Market dull. One California
arrived; 5 broken and 4 unbroken carr
on track. Western crates Iceberg type. o
dozen: California, $3@3.25; few $3.50
poorer. $2@225; Colorado. 1925 @2.Io
Eastern crates, Big Boston type, 2-dozen
New York, 75c
Onions-Market steady. Two Michi
gan, l Utah arrived: Q broken and 3 un
browen cars on track; bO-pQund sacks
U. S. No. /: Yellows New York, fail
condition, 75@s5c; Michigan and Wiscon
The Washington times., 1938-09-13
PARLEY OPENED
BY U. S. LITTLE"
BUSINESS ME N
Pittsburgh'S Welcome
Voiced by Mayor
Nv DICK sHANER

PITTSBURGH, Sept. 13 0.N.S0
The "ljttle fellow" who runs a
store on Main Street and thou
sand others like him met here
today to complete mechanical for.
nation of a national organization,
pledged to fight his battles and
give him a strong voice in national
affairs.
Delegates from ~ States gath
cred in Pittsburgh's Syria Mosque
for the first annual convention
Of the National Small Business
Mems Association. The early part
Of the day was taken up with for.
NAL registration of delegates.
WELCOME BY MAYOR
General sessions opened in the
afternoon with the call to order
by the associations executive
vice president, C. r. Boyd, of Cor
aopoliS, Pa. Mayor Scully was
scheduled to welcome the dele
gates to the workshop of the
world" De Witt M. Emery, Of
Akron, O., founder of the asSocia-
tion, was to deliver the keynote
address.
Out of the three-day convention
of the minute men Of business"
was expected to grow a nation
wide organization dedicated to a
never-ending purpose, Solid1tica-
ton of their activities to express
opinions and bring political pres
sure for and against congressional
measures.
Resolutions on national issues
including the wage-hours bill, the
Wagner act, licensing of corpora
tions, labor, taxes and innumer-
able others will be acted upon be-
for the final gavel is sounded. Ses-
sions will be wide open," although
floor debate on the resolutions
will be limited, officials said.
NEW DEAL, CLIO ABSENT
Conspicuously absent from the
program will be representatives OF
the New Deal and the CIO. Three
New Dealers, including Secretary
of Commerce Roper, were invited
to address the convention but in
each case the invitations were re-
turned with the notation that the
men would be unable to attend.
The CIO was not invited. Matthew
Vol, an AFL vice president,
accepted a request to speak.
The organization had its genesis
in Akron eight months ago when
Emery, president of a letter head
company, sent out 200 letters
stating "the sheriff is about to get
my business, how'S yours?" When
he received similar answers from
1866 persons, Emery began cam
paigning for collective action with
the result the association was
founded.
The Washington times., 1938-09-13

DAILY REPORT ON WASHINGTON
EGG AND LIVE POULTRY MARKETS
prices Paid Shippers-Net FOB. Wash
ingtOn). By the United States Bureau
of Agricultural Economics, Washington.
Eggs-Market steady on Government
grades; slightly stronger on ungraded
white eggs. Government graded and
dated eggs: Whites, U. S. Extras, large,
S91&c; U. S. Extras, mediums, 31hc;
L. S. Standards, large, S1c; U. S. Stand
ards, mediums 24c; U. S. Trades, 22c;
Current Receipts Whites, 2s@29c
Mixed Colors, Esq FAC,
Live Poultry-Market steady. Fowl:
Colored large, pounds and up, 16@1Sc;
under pounds, 15p16c; No. Is, 12Q13c;
Leghorns, 12M l3c; Roosters, 10@11c.
chickens: Virginia Rocks, Broilers and
Fryers, all sizes, 1SM19c; No. Is, 100
i l4c' Delaware Rocks and Crosses: Broil-
ers ana F!yers, all sizes, 1S@19hc; No.
Is 15@lic. Mixed Colored Fryers, 100
lie; No. IS, 11@15c. Leghorns. Broilers,
all sizes, l49l5c. Turkeys: Old Hens,
zoe; Old Toms lie; Broilers. small size,
10 O. 2Oc. Guineas, 2 pounds and over,
oVc palri under 2 pounds, 40c pair.
L. c. L. express receipts at Washing
ton, d. c., Tuesday, September IS, 1888
Florids-37 lugs avocados. % Iugs
llmes' II bushel baskets okra.
North Carolina-64 h-bushel baskets
okra,
Georgia-1O S2-quart crates persim-
mons.
California-s7 12Ib. boxes figs.
Unknown Origin-9S crates mixed veg
eta hles
Apples-No carlot arrivals; no cars
on track. Market steady. Truck re-
ceipts light. Bush baskets, U. 5. No
/: Maryland, Pennsylvania and West
Virginia, Grimes, 2A inch minimum, Sc
d65c; 2h-inch minimum $50 9Oc; 2%.
inch minimum, 1191.1O; WeaIthyA IN
The Washington times., 1938-09-13

sin, mostly around s5c; Pennsylvania,
fair condition, 6O9 SSc; Whites, Indiana,
81. Sweet Spanish, U. S. No. /; 3 inches
and larger: Idaho, $1.4O@1.5O.
broken and unbroken cars on track.
Truck receipts light. Bushel baskets, U.
s. No. 1, Elbertas: Pennsylvania, 2-inches
minimum, So; "a inches minimum.
$2.25; 2h inches minimum $3.50; New
York, IN inches minimum, 81.
Honeydews-Markets steady. One Cali
fornia, 2 Colorado arrived; ! car di-
verted; 4 broken and unbrOken cars
on track. Colorado standard and jumbo
crates all sizes, $1.5O81.75; California,
jumbo crates, S. and 9s, $l.5O@1.75.
Jumbo crates 12s, 81.
Persian Melons-Sunplies insufficient
to quote.
Casaras-Market dull. California, Jumbo
crates, IS to Ss, $3.50.
Carrots-Market steady. One Califor-
mia arrived, broken cars on track
Colorado, Western crates, punched, So;
Pennsylvania, bushel baskets. topped
washed, 65@75c.
Celery-Market steady. One New
York arrived, broken and . unbroken
cars on track. New York, y crates, in
dividually washed. 3-6 dozen, $l.75@2,
few $2.25.
receipts light. Bushel baskets: Mary
land. Goldens, $1@1.15; mostly, 81; Louis
lana, bushel crates Porto Ricans, U. s.
No. /, $1.25.
watermelons-Marke dull. Virginia,
boat receipts, bulk pei 100 melons, vari-
Gus varieties, small size, $685. medium
size, $S@15.
Mixed Vegetables-One Colorado ar.
rived: 2 broken and unbroken cars on
track.
Lima Beans-Market steady. Delaware
and New Jersey, bushel baskets, $2@25O
Cauliflower-Market steady. Two Col
orado arrived; broken cars on track
California, crates, $3.50.
| Spinach-Market steady. Truck re-
The Washington times., 1938-09-13
STOCK MARKET.
RALLIES DESPITE
H|TLER'S SPEECH
European CurrenCies In
New Slump
By LESLIE GOULD

NEW YORK, Sept. 13 UN.SO.
Rallying tendencies persisted in
the stock market today, with the
general list duplicating yesterdays
gains of l to more than 3 points.
This was in the face of continued
nervousness abroad in the wake of
Chancellor Hitler's bristling speech
at Nuremberg.
Reports of unrest in Sudeten
areas of CzechoSlovakia brought
further declines in major Euro
pean currencieS and security mar
kets. The British pound again hit
q new three-year low, carrying
other foreign exchanges into low
ground for the move.
BLUE CHIPS GAIN
Stocks generally were higher at
the opening with blue chips show
ing large gains. The advance
gained momentum until light
profit-taking was encountered in
the second hour, which shaded the
days best prices.
Industrials were strongest, In
Guiding motors, tobaccos, chemi-
Gals, copperS and assorted high
priced shares.
Lone Star Cement was up close
to points at one time, while East
man Kodak, du Pont, Johns-Man-
vile, Case, Westinghouse. and
Sears Roebuck showed extreme
gains of 2 or more points. These
were pared before the noon hour.
U. s. STEEL LAGS
Montgomery Ward was up a
point, but lost all of its gain later.
U. S. Steel Jagged in its group,
converting a fractional gain into
a small loss.
U. S. Government obligations
regained a portion of yesterdays
heavy losses, but the rest of the
bond market showed no appreci-
able change.
The Washington times., 1938-09-13
EAST BUFFALO
HOG PRICE OFF

EAST BUFFALO, N. Y. Sept.
13 G.N.SO.-Livestock: Hogs 100.
Scattered lots 160-220 lb. trucked-
ms weak to mostly 10c lower. 9.25
@9.4O: few $50; good and choice
rail run quoted around .9.65; pack
ing sows 7.10@7.60.
Cattle: 100. Plain to medium
grass steers and heifers fully
steady $6:5O@7.50 late Monday;
numerous loads Canadian grass
steers $8.OO@9.O0; lowcutter and
cutter COWS $3.60@5.15; light
weight bulls $5.O0@6.0O.
The Washington times., 1938-09-13

lots of those formerly friendly to-
wards him to the conclusion that
he aSpireS to be too dictatorial.
Consequently one gets the impress
sion that a third-term campaign
by the President would meet wide
spread opposition.
RETAIL TRADE FAIR
Away from the stock ticker and
the atmosphere of the stock mar
ket, conditions apparently are &C
cepted as not too bad" Retail
trade moves along fairly normally.
A great many small businesses are
contriving to make ends meet.
Men thrown out of work by such
basic industries as steel, motors,
railroading, public utilities, private
construction are being, for the
most part, we'll provided for by
public relief. This has markedly
modified discomfort among victims
of the prolonged depression and
has tended to cause them to look
to Washington rather than to busl-
ness and industry for their susie
nance.
Even so, wherever one goes, the
question asked is, when are things
going to get better?"
The statistical evidence is that
trade and industry have continued
to trend upwards, although at only
snail's pace and with not a teW
pronounced exceptions
ELECTION INFLUENCE
What the actual undercurrent
now is in most influential circles
will take some little time to ascer-
tain. .
The attitude and course OF
large-scale employers will be In
fluenced considerably by this
weeks primary Developments.
And, of course, Europe may
erupt at any moment. But this
writer's opinion is that the dis
position all along here has been
to recall what happened to us
when the world war broke out and
to assume that hostilitieS on the
continent of Europe would have
similar catastrophe consequences
again, an assumption not justified
by the drastically changed condi-
tions since then.
Copyright. 1898. by B. C. Forbss.)
The Washington times., 1938-09-13
COTTON SLUMP

It is bit harder to explain the
little slump which has occurred in
cotton textiles. Probably war con-
ditionS have temporarily affected
the raw cotton market unfavor-
ably. We know that New Deal
miSmanagement has especially
hurt cotton growers. The decline
in the raw material affects the
buying Of goods. :
But now increased buying Of
garments and household goods by
retailers is reported. This, to-
gether with expanding industrial
consumption Gas in automobiles)
should bring some independent
strength into the goods and yarn
markets.
The Washington times., 1938-09-13
Atlantic Refining Co.
Votes Debt Increase

NEW YORK, Sept. 13 0.N.S0.
Atlantic Refining Company's stock
holders at a special meeting yester-
day approved proposals to increase
the company'S Indebtedness by not
more than $4,000, 900 and an in
crease in authorized common stock
to 100000 from 100000 shares
of $25 par value. Directors plan
to issue only $25 5.00O.O00 bonds at
present, the proceeds to be used
to pay off SIG, 900 bank loans
and supplement company cash.
The Washington times., 1938-09-13
FEAR OF POWER
SHORTAGE LAY
ALTER PROGRAM
SEC Launches Inquiry.
To Determine Course
Bv Eric FRIEDHEIM
(Copyright. 1888. by International
NeMs SerNice.l

New national defense plans be.
ing considered by the Govern
ment may grant many of the ma
tion's vast power empires a par
tial reprieve from the drastic util-
ity holding company death SEN
tence."
Decision by President Roosevelt
to survey Immediately the Ameri-
can power resources for mobilize
ton in the event of a war emeT-
gency is expected to force sharp
change in SEC efforts to impose
the death sentence" on scattered
utility groups.
The death sentence" provision
Of the holding company law d.
rects the commission to reduce
all power organizations to small
compact, integrated units operat-
ing within limited geographic
areas.
STUDY SITUATION
Faced with a possible shortage
Of electricity in case of war, Mr..
Roosevelt has ordered a special
government committee to study
methods by which various power
systems can be linked together so
that no area will be endangered
by a possible "black-out."
AS a result of this defense meas
ure, the SEC has launched a COM
panion inquiry to determine how
the Presidents new program can
be reconciled with the objectiveS
Of the holding company act.
Commission officials conceded
the defense plan may throw serious
obstacles in the path of death SEN
tence imposition.
Meanwhile, Federal power eX-
perts wrestled with the problem
of inSuring the nation with an
adequate supply of electricity
should the United States be en-
broiled in armed conflict.
EXPORTS CURTAILED
Conditions were particularly
acute in the Buffalo Niagara
Falls region" the report said.
"Here the major power COM
panies previously had supple
mented their power supply with
energy imported from Canada.
the wartime increase in power
requirements of Canadian in
dustry required the curtailment
Of power exports.
THE imminence of a power
shortage was evidenced in other
regions and shortages developed
in Pittsburgh and its environs,
Ohio, the New England States,
particularly Massachusetts,; the
southern portion of Vermont
and New Hampshire, the State
of New Jersey, Philadelphia and
eastern Pennsylvania, Balti-
more and Wilmington, Del; the
Pacific Coast, several locations
in the Southern States, Norfolk
and Hampton Roads, Va, and
even as far inland as Little
Rock, Ark"
The Washington times., 1938-09-13
.N,Y,CURB STOCKS
OPEN ACTIVE

NEW YORK, Sept. 13 Q.N.SO.
Curb stocks opened mixed and &C.
tive today. United Gas sold q at
3K and Taggart Corporation at
5A, both unchanged. Lake Shore
Mines edged 70 to so, Aluminium
Company, a point to 113; Imperial
Oil, 1s to 1879: technicolor, b to
205s, and Niles-BementPond, Ia
to 38A. Electric Bond and Share,
sold at Z, off 1s.
Lockheed Aircraft opened at
1879, off W: International Petro.
leum at 25h, off "a.
The Washington times., 1938-09-13
Money Markets

NEW YORK, Sept. 13 G.N.S0
Bankers acceptance market quiet
with rates unchanged. Thirty, 60,
and 90-day bills are quoted at 40
TIC per cent; four months at 9-16
on per cent, and five and six
months at 5s@9-16 per cent.
Time money offered at IA per
cent. MaturitieS up 80 days and
11h per cent. Four, five, and six.
month maturities, all unchanged.
Call money l per cent un'
changed.
The Washington times., 1938-09-13
FREIGHT INCREASES

Among the most encouraging
news items IS the more-than-sea-
sonal gain in railway car loadings.
It means nothing that the figures
are the highest for the year
they usually are at this season.
But it means a great deal that
the movemnt Of freight has been
gaining more rapidly than usual.
Wholesale trade has benefited
by increased reordering, as re-
tailers find business expanding
while their stocks are low.
While prices of wheat and cot
ton have held the averages down,
and some e speculative interna-
tional commodities cocoa, sugar,
tin and rubber) have reacted, the
underlying trend in commodity
markets seems firm. An upturn
toward the end Of the week car
ried some averages higher.
Certainly war was not indicated.
The Washington times., 1938-09-13

governmental deficits of billions
annually. Nor is our taxation in
terpreted as abnormal in comparl
son with the burdens carried in
most leading countries. In short
the consensus of foreign opinion
seems to be that we are better
off than we realize and that we
should not indulge in either SO
much complaining or hesitancy in
conducting business activities and
enterprise.
SOCIAL SECURITY POPULAR
Men of affairs who mix mainly
with their own class are, I rather
think, overestimating President
Roosevelt's loss of popularity and
Understanding the endorsement
of most of his major legislative
reforms among ordinary folks.
The clipping of Wall Streets
wings is heartily approved by the
rank and file. The Social Security
law has won the New Deal many
friends.
But there does appear to be a
growing conviction that he has
gone fer enough in trouncing buSi-
ness leaders and in discouraging
revival of prosperity and employ
ment.
Also, his invasion Of various
States to wreak vengeance on SEN
ators and Representatives who
could not conscientiously vote for
his every proposal, including re-
casting of the Supreme Court
and reorganization of the Federal
Governments machinery, has led
The Washington times., 1938-09-13
Stored Butter Sets
New HiQh Record

CHICAGO, Sept. 13 QN.S).
Stocks of storage butter in the
United States on September l
totaled POI, SAB 900 pounds, q new
high record, the Bureau Of Agri-
cultural Economics reported today.
The former high was IT'S, 5,476, 1000
pounds on September /, 1888.
The Washington times., 1938-09-13
WAR HELD UNLIKELY

OuIs
WAR HELD UNLIKELY
But the cold statistical facts dc
not give any strong indication
of approaching war, and the Sc
curity and commodity markets have
held well considering the Situa-
ton.
On the one hand, the stand
patterS who have tended to see no
good in any economic reforms are
becoming reconciled to those
which are likely to become perma-
nent-such as collective bargaining
for labor, Government regulation
of security markets, and reaSona-
BILE provisions for unemployment
and old age. On the other hand,
the radical New Deal approach to
such social problems is seen to be
slipping, or at least this is fore
shadowed by the failure Of a ma
jority of the Presidents "purgeS. ="
Finally, if we critically examine
the latest data, they are not favor
able.
STEEL NEAR RECORD
To begin with, steel production
increased in the week ended Sep
tember 3, and fell off less than
usual in Labor Day week, which is
equivalent to a further rise. Now
it is estimated that a new high for
the year will be reached this
week.
Thus far, this good showing
rests largely upon general miScel-
laneouS demands. When the auto
mobile industry gets really started
on the new season, however, a
great deal more steel will probably
be ordered. Improvement in build
ing activity is also indicated by
building permits, and the full ef-
feet of Government spending still
remains to be seen.
Meanwhile, the price of steel
The Washington times., 1938-09-13
Louisiana Offers
5 Million in Bonds

NEW YORK, Sept. 13 G.N.S).
Officials of the State of Louisiana
announced yesterday that an
issue of $5,O00,0O highway bonds
will be sold october 10. Bidders
are to name a rate of interest not
exceeding 4 per cent. The securi-
ties will be dated october l. 1898,
and mature serially from 1912 to
1861.
The Washington times., 1938-09-13
Insurance Companies
To Act in Erie Case

Q.N.S.) The Interstate Com
merce Commission has given
authority to a group Of life in
surance companies and banks to
intervene in the reorganization Of
the Erie railroad. Wilfred Kurth,
chairman Of the Home Insurance
Company, is head of the commit
tee representing the group.
The Washington times., 1938-09-13

as beSet with
fewer menaceS
than any other
important ma
ton on the face
of the earth.
Our political
un C er taintieS
are not ana
lyzed by Euro
peans as threat
ening major ca
taStrophe. Our
wealth and re-
S o u r ce S a r e
lie W e d as en-
tirely adequate
M ooof Aur
The Washington times., 1938-09-13

been q great
deal Of doubt
as to how much
business recov.
cry can be ex-
pected u n d e r
such New Deal
restraints as the
Wagner Act, un-
fair G ov e r n
ment competi-
ton with utili.
ties and con-
tinuously unbal.
anced budgets.
And Labor Day
week is often a
dis a ppointing
The Washington times., 1938-09-13
scrap remains stable at the highest
level since last November.
RUSH NEW MODELS

The automobile industry Is
changing over to new models some
what earlier than has been usual
in recent years, and the new cars
are different enough to indicate
real hopefulnesS concerning sales
in the new season.
The decline in weekly produc-
ton is entirely due to the change
over, Ford being the last to stop
production of 1898 models. Ger.
tainly, the increasing volume Of
Government spending can reason.
ably be expected to stimulate buy.
ing Of automobiles, unless Ameri.
can habits have nightly changed.
Among the encouraging news
items Of the week were the re-
ports of recalling thousands Of
workers by Detroit and Flint
motor plants, and body plants in
Cleveland.
The Washington times., 1938-09-13
Washington Stocks

SALES
Washington Gas SIS, 1858, $500
@1O611.
washington Gas pfd., SO 100.
After call
Riggs Bank COM, 1929.
: Capital Traction IS, $50O@761a.
Security Storage Co., 10@118.
Capital Traction Company, 20
@9.
The Washington times., 1938-09-13

Unquestionably, the threat Of a.
great European war accompanied
by shaky markets for securities
and commodities, has been dis
quieting. In addition, there has
The Washington times., 1938-09-13
Metal Markets

NEW YORK, Sept. 13 Q.N.S0.
Sales of copper on the export mar.
ket today were reported at 1924
cents a pound elf European base
ports, against a range Of 1915 to
1925 cents on Monday. The Lon
don metal equivalent this morning
was back at 1925 cents.
Domestic copper was unchanged
at 1O1s cents a pound, valley base
delivered.