davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1938-09-12
List of Woshinqton Produce Markets

Mixed Vevetables-Three California ar
rived; broken and / unbroken cars
on track.
Lima Beans-Market steady. Truck
receipts light. New Jersey, bushel ham"
pers, $2@2.25.
CaulifIower-Market steady. No car
lot arrivals; 1 broken car on track
Colorado, Gates. $3.50.
Spinach-Market weak. Truck re-
ceiptS light. New York and Pennsyl"
vania, bushel baskets. Savoy type, 81.
Grapes-Two California arrived; uns
broken cars on track. Eastern stock:
Supplies insufficient to quote. California
1.60: fair condition, 81; Red Malagass
$1.25 @1.S5; Tokays, $1.66@1.7S; Ribiera'
$3.50.
car diverted: broken and unbroken
cars ON track. California, boxes, $50
3.75, as to grade and size.
Lemons-CalifOrnia, standard boxes
No. 1, $5@5.b0:
PlumS and Fresh Prunes-Half-bushsI
baskets; Idaho, $1.15@1.25; New York;
some .wasty, 75c@31.
Crabapples-New jersey h-OusneI
Broccoli = Pennsylvania, crates II
punches. $1.5O@1.6O.
okra-North CarOlina. h-bushsl ham'
pers, 60@15c.
Cucumbers-New York, bushel has"
kets,, best. 81: poorer, 81; Dills. fair
Mushrooms S-lb. bas'
kets, 4O@80c.
Pineappies-Cuba, crates, $304.5O, as
to size. ~
Figs-california, 55-lb. flats, So@$1s
Limes-Florida, Y boxes, $1@1.25.
Corn-Nearby sections, sacks, dozen'
soc.
Beets-Pennsylvania, SOC per dozen
! bunchea -
The Washington times., 1938-09-12
STEEL MARKET
OUTLOOK BRIGHT,
SURVEY SHOWS

CLEVELAND, Sept. 12.-With
steel markets recovering from the
Labor Day lull, producers look
for an extension through Septem
ber of the July.August business
improvement, the magazine Steel
announced today.
Basis for the expected upturn
the magazine said, is the eXpecta
tion building construction, the au
tomotive industry and Other heavy
consumers are likely to enter the
market shortly with substantial
purchasing orders.
AUTO DEMAND TO GROW
Increased shipments Of steel to
motor manufacturers Is regarded
as a virtual certainty, Steel
pointed out, in view Of expected
demands for new models now be
ing fabricated.
The magazine said quotations
on prices. for the final three
months Of the year are expected
by the steel trade to snow little
changes from present levels.
The holiday shutdown curtailed
national production to AIS pei
cent Of capacity after August pro
duction reached a 10-month peak
of 2,546,988 tons, according to the
publication.
DROP SECTIONAL
The magazine said the drop
was particularly noticeable In
Chicago, eastern Pennsylvania,
Wheeling, Cincinnati and st.
Louis districts. Pittsburgh was
unchanged, as were Buffalo,
Birmingham and Detroit. In
New England there was an in
crease Of 10 points.
Scrap quotations eaSed some
what but the iron and steel com
posite and the finished steel com.
posite were unchanged.
The Washington times., 1938-09-12

two weeks, a definite move is in
dicated. At the present moment
the burden of proof is on those
who hold that the move will not
be downward.
ACTION IMMINENT
In other words, we seem Ger.
tain to know soon what Hitler
proposes to do about CzechoSlo.
vakia, and what Americans pro-
pose to do about the New Deal
This will bring action into the
market. At the moment, the tend
ency seems to be lower.
But I have some reasons to give
for believing that if the break
out OF the trading range is down
ward it will not go far-Say not
below June 24-and that the mar
ket is likely to rise to new highs
upon the favorable termination of
the present uncertainties.
A IL month moving average of
the market. though still declining.
has rounded off" in it's decline
in a cvclical manner. In other
words, from the standpoint of a
four-year period, there is strong
evidence that bottom has been
seen, and that a broad uptui n
has begun. In this respect, the
genera! market chart resembles
April-June, 1918; December, 1921
January, 1922; March, 1884, or
September October, 1892.
STRANGE SITUATION
While European tension is great,
1t seems strange that war should
follow a situation in which the
potential combatantS are allowed
time to prepare and get set for
war. Germany doth protest her
economic strength too much. Eng
land must see that her power is tc
be cast against Germany, Amer
can sympathy and interest are
obvious.
If there were war, it is by no
means certain that our industries
would be badly injured.
The Washington times., 1938-09-12
STOCKS RALLY.
LED BY MOTORS.
is SHORT-LIVED.
Trades Are Nervous
Over News Abroad
BY LESLIE J. GOULD

NEW YORK, Sept. IL UN.S)
The stock market steadied today
although several sections were
hesitant and irregular through
forenoon dealings.
Wall Street sentiment continued
dominated by world nervousness
over the critical German Czech
developments, many traders fear
ing Hitler's speech would bring
the Central European crisis to a
head.
FRACTIONAL CHANGES
After a short-lived rally paced
by motors and steelS, trading
slowed down and the advance soon
.petered out.
A few stocks showed changes
of more than a point, but the
great majority of issues held
within small fractions of previous
closing levels. The list was mixed
and quiet at the opening, and con.
tinued hesitant until the bulge in
steels and motors was touched off
in the second hour.
Mail orders, most chemicals and
merchandising shares joined steelS
and motors on the upside. Cop
pers, utilities, oils and amuse-
mentS were backward.
STEEL ADVANCES
U. S. Steel, Bethlehem, Westing-
house and Macy were among the
few stocks to gain point or more
before the advance was checked.
Union Carbide, on the other hand,
dropped more than a point.
Both Chrysler and General
Motors chalked up fair-sized frac-
tional gains, after showing minor
losses in early transactions.
Allied Chemical, DUPONT and
Air Reduction in the chemicals;
SearS-Roebuck and Montgomery
Ward in the mail orders; Wool
worth in the merchandising group,
and N. Y. Central and Pennsyl-
vania in the rails, all were above
Saturdays closing prices.
The Washington times., 1938-09-12

G.N.SD Only one out of $50
operating and holding operating
electric and gas companies ana.
lyzed by the Securities and Ex-
change Commission failed to earn
interest onfunded debt in 1887,
according to the commissions re.
port published today.
All but 16 companies earned not
only interest but preferred divi-
dendS, with AZ classified as having
preferred dividends in arrears.
The companies analyzed were all
subsidiaries Of registered holding
companies. Their combined assets
aggregated SO, ,563, ,686 ,O59, or about
10 per cent Of total assets of all
registered holding company sys.
TENS.
The $50 operating companies
had gross earnings Of 81, ,442, $780,.
455 in 1887, and at the end Of the
year were serving 16,842, ,267 elec
trio and gas consumers in 2,306
communities.
Their bonds and debentureS to
tailed $4,103,187,167; preferre q
stocks, 1,540, ,052, ,469, and common
stock, 81, ,908, ,135, ,635.
The Washington times., 1938-09-12

new agricultural act is not deliv.
ering the goods.
The fact is that the present act
provided much additional regula-
tion for farmers, but not much
more income. The teeth were re.
moved when Congress failed to
implement it with q restoration
Of processing taxes or their equiv.
alent.
TWO-PRICE SYSTEM
II the United States wants to
continue with protective tariff for
industry policy on which Su-
perior popular well-being has been
baSed-then it becomes necessary
to have q correlative agriculture
policy, which will promote an
equilibrium. Instead of lodging
the issue, we should accept the
logic of events, and frankly can.
vaSS the adviSability Of a two-price
system.
This would preSuppoSe domeS.
tic price, which would bring agri.
culture into better balance with
industry, and q willingness to
dump the surplus overseas. The
problem Of such balance always
existed, but has become much
more acute since the war.
This change springs only in part
from the expansion in agricul-
tcral production. It results even
more from the raising Of the in
dustrial wage from $3.50 a day
to IS. The choice lies between
tearing down the industrial wage,
on the one hand, or raising the
agricultural income, on the other.
In recently turning to q sub
sidy for wheat exports, Secretary
Wallace appears to be breaking
away from the internationalism Of
ISecretary Hull.
The Washington times., 1938-09-12
DEFICIT NOTED
BY n. Y. CENTRAL

NEW YORK, Sept. IL. New
York Central Railroad Co., and its
leased lines report a deficit in July
of $2,088, ,109 after expenses and
fixed charges, compared with net
income Of $685. sos equal to four
cents q capital share in the COM
parable period q year ago.
In the first seven months ended
with July the deficit after ex-
penses and fixed charges was $19,-
636, 500 against net income Of &c.
748, ,629, equal to $1.05 q share in
the like period of 1897.
The Washington times., 1938-09-12
BUSINESS IS PICKING UP

deliveries Of rayon in July and
August reflected the improved
sales Of finished goods and the
prospects of higher yarn prices" {"
The department reported July
railroad traffic was larger than
the previous month, due to the ex-
pansion Of industrial output and
the movement of the huge grain
harvest. LoadingS improvement,
however, was not uniform, with
roads serving the major industrial
SalientS showing better-than-sea-
sonal rate in the movement of
traffic. Total loadings for August
apparently increased but slightly
more than the estimated seasonal
amount" it said.
During the fourth week in Au.
gust, the drop in farm product
prices was checked, it said, with
wholesale prices dropping from
TOT 1926 equals 1000 in mid-July
Ito $50 in the third week.
The Washington times., 1938-09-12

Some of the highlights Of the
August analysis were:
The SeaSonally corrected index
Of industrial output continued its
advance; steel output averaged
about IS per cent in July, de-
mand for steel products broad
ening.
Purchases Of railway equipment
improving; machine tool orders
from domestic sources advanced
moderately; lumber orders re
flecting the continued improve
ment in residential building and
in other major consuming indus
tries" rose considerably during
July, but in August were at q
lower rate"
RAIL TRAFFIC GAINS
Cotton textile purchases smaller
than in July, but mill activity
maintained on the basis OF the
volume Of business previously con
ltracted; huge volume OF factorS
The Washington times., 1938-09-12
BondhoIders Of Erie
Fight Reorganization

Q.N.S.) The 1CC today au-
thorized a group Of holders Of
Erie railroad refunding and i'm
provement mortgage bonds to in
tervene in the roads reorganiZa-
ton. Wilfred Kurth of New York
is chairman of the group.
The commission announced It
would hear oral argument on
October 21 on the reorganization
plan Of the New York, New
Haven and Hartford railroad.
The Washington times., 1938-09-12
Bethlehem Awarded
CouIee Dam ContraCi

The Bethlehem Steel Company
Of San Francisco has been awarded
the contract for furnishing 1884
600 pounds Of reinforcing steel to
be used on the Grand Coulee Dam
in Washington.
Bethlehem's low bid was foI
$194,000, fob, Odair, wash. The
steel will be used to reinforce con
crete placed in the dam under the
contract recently awarded to the
Consolidated Builders, Inc, Of
Oakland, Cal, for the completion
Of Grand Coulee.
The Washington times., 1938-09-12
Pay1'0uS, Jobs
Increase in n. 7.

ALBANY, Sept 12.-The July advance in New YrOk
State employment and payros continued through August
at an accelerated pace Employment SO per cent
from mid-July to mdAugust Payrols To per cent
higher.
New York citys employment was 1O6 per cent higher
and payrolls 11.6 per cent.
A substantial part of gains caused by seasonal
advances in clothing and millinery factories but outside
of these fields net gains also recorded substantial
increases being registered in wood manufacture textile
and fur leather and rubber goods groups, well the
metal and machinery groups.
The Washington times., 1938-09-12

The nations recovery surge
maintained momentum during Au.
gust, the Department of Commerce
reported yesterday.
Business activity expanded
further during August and while
the rate Of increase in important
lines of industry and trade has
slackened in recent weeks, the
major indexes averaged higher in
August than in july" it declared.
Business volume, the depart.
ment said, continued below the
levels Of the corresponding period
last year, although the margin
Of decline has been reduced dur
ing the past two months"
AUGUST HIGHLIGHTS
July retail sales escaped the
usual seasonal relapSes, and, al
though sales did improve in Au
gust, the upSwing was not up tc
other August standards, the de
partment reported.
The Washington times., 1938-09-12
RAIL INTEREST
ICC to Hear Plea for
Cut by B. and D.

Application by the Baltimore
and Ohio Railroad to reduce fixed
interest by $11,376,435 annually
for eight years and extend the
date of certain maturities will be
heard by the Interstate Commerce
Commission September %. Com
missioner Charles D. Mahaffie and
Finance Examiner A. C. Devoe will
preside at the hearing.
Daniel Willard, president of the
road, recently told security holders
he believed the adjustments
brought about by voluntary agree
ment would be more satisfactory
and less expensive than a reorgan.
ization effected Through custom
ary legal proceedings"
The Washington times., 1938-09-12
Bethlehem Gets
u. 5. Contraci

Secretary of the Interior Ickes
yesterday announced the award
to the Bethlehem Steel plant at
San Francisco of a contract for
7,634,000 pounds Of reinforcing
steel for Grand Coulee dam. The
company bid $194 ,090, fob. Odair,
Ohio, resulting in a net delivered
cost Of $153,641 to the Govern
ment,
The Washington times., 1938-09-12
CONTRACT ISLET
ON COAST span

Award of contracts for con-
struction of the first bridge ever
to span the Sacramento River
was announced yesterday by Sec
retary of the Interior IckeS. Cliff
ford A. Dunn, klamath Falls,
Ore, made the successful $17S."
800 bid for abutments, pedestals
and piers. The American Bridge
Company, Pittsburgh. won the
contract for erecting the struc-
ture, first Of eight required in
connection with relocating South
ern Pacific Railroad tracks around
the Shasta Dam in central Cali
fornia. The bridge company bid
$569, 100.
The Washington times., 1938-09-12
Major Brown Speaks
To Business Grour

Major E. w. Brown, Superin-
tendent of police, will address the
first fall meeting Of the Federation
Of Business Mems Associations in
the Hamilton Hotel Thursday at
$3.50 p. m. A nominating commit
tee will be appointed. and a pro.
gram Of entertainment will be pre-
Sented by the Connecticut Avenue
group. Theodore s. Grape, preSi.
dent, will preside,
The Washington times., 1938-09-12
COTTON Market
ANXIOUS over
EUROPE CRISIS
Prices Below Figure
Offered for Loans

NEW YORK, Sept. 12.-With
cotton price below 8 cents q pound
and about $3.50 a bale under the
figure at which the Government
has offered to make loans to grow.
ers, the trade has slipped into an
attitude of watchful waiting.
The Czech German crisis has
created nervousness among buyers
and this morning there was no
indication of a change in the i'm
mediate situation which would
stimulate the market.
The October delivery which
closed ten days ago at $40 cents
sagged early last week to 1893 and
had dropped to 1893 when the
market closed Saturday.
REVISE ESTIMATE
The Department of Agriculture's
revised estimate for a cotton crop
Of 1925, 900 bales as compared
with its production a month ago
Of a crop Of 1890, 900 bales had
little effect in the market. The
revised estimate about equaled the
estimate of private reports and
merely eliminated some confusion
among traders.
Failure of the cotton loan pro-
gram to stabilize prices brought
disappointment in some quarters.
Fears that agricultural officials
might embark on an export sub
sidy plan for cotton similar to that
invoked for wheat subsidy last
week with issuance Of denials from
Washington that such move was
contemplated.
EJYERS HOLD OFF
Foreign buyers are reported to
have been holding off placing or
ders In hopes of obtaining more
favorable prices if the subsidy plan
was invoked. Observers here,
however, are Of the opinion that if
war breaks out in Europe prices
for cotton would tend to increase
abroad and ease off here.
When war dispatches became
alarming last week, it was noted,
Liverpool traders were inclined
to cover their sales while selling
developed here on the same news.
Sales of only approximately half
Of last weeks cotton cloth pro-
duction by mills left domestic man.
ufacturers without special incen-
tiveS to buy raw cotton needs in
the spot cotton markets.
The Washington times., 1938-09-12
Williams 10 Head
Westinghouse Unit

PITTSBURGH, Sept. 12 Q.Ns).
Election Of Frank B. Williams, jr.,
as vice president in charge of the
merchandising division of the
Westinghouse Electric and Manu-.
featuring Company was an.
nounced today. He will make his
headquarters In Mansfield, Ohio.
The Washington times., 1938-09-12
SPENDING Planned

HOLLYWOOD, Sept. 12.-Uni
versal Studios Immediately will
embark on a program of construc
tion, remodelling and moderniza
ton involving an expenditure up
wards Of $1,000, 900. j. Cheevel
Cowdin, chairman of the board oi
directors, announced.
The Washington times., 1938-09-12
U. ). Steel Reports
More Stockholders

NEW YORK, Sept. IL. Com
mon stockholders of United States
Steel Corporation numbered ILL.,
7O5 as of August 26, an increase
of 249 since the last report on
May 81.
Holders of the preferred num-
bered 66,23l as of July %, an in
crease of 1,025 since the last re-
port on April %.
The Washington times., 1938-09-12
New Optical Firm
Incorporates Here

Articles of incorporation were
filed with the recorder Of deeds
today for Optical Tech11icians,
Inc, of 1915 K st. N. w. The
new firm, according to Attorney
Godfrey L. Munter, has capital
stock amounting to $10,7OO.
James P. Fadden and Stanley H.
Dando, Of Dunmore. Pa, are the
principal stockholders. The firm
will engage in all branches Of the
optical business.
The Washington times., 1938-09-12
Graham Paige Reports
Net Loss Of $441,144

DETROIT, Sept. IL G.N.S)
Graham Paige Motors Corporation
and subsidiaries today reported q
net loss Of $441,144 for the quarter
ended June 80, 1898. The corpora
ton reported a net loss Of $493, ,511
for the corresponding quarter Of
1887.
The Washington times., 1938-09-12
Speeds Production

TOLEDO. Sept. IL G.N.S)
Libbey-O Owens,Ford Glass Com
pany has stepped up operations
at its newly-modernized Ottawa
(IllO plant to II per cent Of Ca
pacity with more than 1900
workers on the pay roll.
The Washington times., 1938-09-12

The entertainment world needs
yOu-if you have talent. You may
find your career among the Fine
Arts. Don't bury valuable accom-
pliShments. Develop them through
proper instruction. See Fine Arts
Directory in the Classified Col
umMS.
The Washington times., 1938-09-12

tends to make N. g. RUKEYSER
it impossible for the worker on
the farm to exchange a years
work for a years production Of
the industrial worker. Thus, the
circulation Of goods through the
economic arteries is curtailed in
volume, and the national income
declines.
CAN'T LIVE ON WORDS
During the twenties, after the
farm income had been skyrocketed
during the war, it tended to fall
rapidly in relation to the income
of urban groups. The present Ad-
ministration was alert to this
major disparity, and spoke
eloquently about the need for re-
storing economic balance.
But the farmers cannot live on
words alone. The fact is that the
gross income of farmers, though
moderately better than in 1932-33,
is still far below the unsatisfactory
ratio of 1929. There appears to
be growing recognition that the
The Washington times., 1938-09-12
SMALL BUSINESS
MAPS FIGHT ON
RFERENCE'
Meets in Pittsburgh to
Unite for Fight

PITTSBURGH, Sept. IL G.N.SO
Mobilizing for a concerted attack
on the underlying causes Of depreS
sions and recessions, an army OF
small businessmen began arriving
here today to put the finishing
touches on an aggressive organlza'
ton pledged to fight the battle OF
the little man."
Rising in revolt against Grip
pling taxes and governmental in
reference in business" a thou
sand or more delegates represent
ing the country's 100000 butch
ers. bakers, and can d estlc K
makers" who operate on a small
scale but handle 80 per cent OF
the nations business will complete
mechanical formation of the Ma
tional Small Business Mems AsSo-
citation.
S.DAY SESSION
The convention opens tomor-
row morning with the reglstra-
ton of delegates.
During the next u hours they
will listen to a number OF speech
es by Acknowledgment speakers
discuss the country's welfare,
adopt resolutions and in general
pave the way for giving the lit
tie man" a strong voice In ma
tional affairs.
EXPECT HOT DEBATE
Strict, parliamentary law Will
govern the three-day session to
prevent any wild scenes by indl-
viduals as occurred at the Wash
ington meeting last February
called by Secretary of Commerce
Daniel C. Roper.
Spirited debates were antlcl-
pated, however, over some OF the
resolutions and bylaws, especially
the one differentiating big buSl-
ness from little business.
The Washington times., 1938-09-12
Business Federation
To Meet Thursday

The Federation Of Business
Mems Associations will hold its
first fall meeting on Thursday
night in the Hamilton Hotel.
A nominating committee will be
named for the October election of
officers, and reports from com
mittees made. Major Ernest W.
Brown, superintendent of Metro.
politan Police, will be guest
speaker. Theodore S. Grape.
The Washington times., 1938-09-12

trying to climb
the hill Of re-
covery with the
brakes on. A
significant Je-
tarding influ-
e ce is the
growing dispar-
ity between ag-
riculture an d
industry, as re-
Elected In the
sustained weak
ness in farm
prices.
This growing
maladjuStnnen t
The Washington times., 1938-09-12

S p on ST b | e
seems SubStan'
TALLY just. This
is demonStrat-
ed by the fact
that on Wed.
nesday the mar.
k e t ur n e d
strong on news
t h a t t h e
CZ chocolvak-
ian crisis had
passed.
AS is often
the case, how
ever, it seems
to be the ex-
The Washington times., 1938-09-12

Watch for the $lV'UOO UOmic PusEle
Contest Second pugElO next Sun.
day In the Washington Herald Times.
FOLLOW The LOne Ranger in The Times
every day. Tel. RE. 1894 for Home
Delivery.
The Washington times., 1938-09-12
title Nation Organize Fight Gripping Taxes
Is Most Active
Stocks of Week
On N. Y. Change

NEW YORK, Sept. IL.
The Is most active stock ex-
change issues for the week
ended September 10 were:
The Washington times., 1938-09-12
Market Fears
Seen Near End
Upturn Held Likely When Air Clears
At Home and in Europe
By LEWIS HANEY
Professor of Economies, New York University

NEW YORK. Sept 12-Last week, the stock market lost
the ground gained the week before Judged by the
pose average down from Saturday week ago by
amounts ranging from IL to points
The Washington times., 1938-09-12

sEx-dividend. bBooks closed. tPlus ex-
traA e2 per cent extra. f25 per cent
extra. h76c extra. ESl4.O0 extra paid
November 80, 1887. k5ec extra. mSS.OO
The Washington times., 1938-09-12
Business Uses
Brakes Up Hill
Recovery Retarded by Low Farm
Prices, Rukeyser Asserts
By M. s. RUKEYSER

Why does business emerge from the depths hatngyf
There is tendency bring confusion to of this
question: in accordance with political bias
The Washington times., 1938-09-12
Washington Stocks

SALES
Washington Gas Light pfd, 10
0100.
AFTER CALL
Potomac Electric 512s pfd, SO
ia.
Capital Transit Company. SO
e%.
The Washington times., 1938-09-12

point, 1t appears to me that q
major trouble is that business is
The Washington times., 1938-09-12

The generally accepted idea
that tension over the possibility
of a general European war, is re-
Evening star., 1938-01-01

s. In this Congress-desing
part OF the Roosevelt
The c. l. O. and the L.
OF labor will
T. Taxes will be modified o
the mdde-income corporations pay
g. The Government will
pulled us out the last depression the going
pledges program uhole
be defeated in the
election The Congress-
10 At least two of the
Will of old
OF the goth century live o
H. The thd-em for Roosevelt" will
way and will have Wall Street and the politicians
r. The big boys of the business
Roosevelt deation
0 mi
13 At least 10
die and be buried and their
IA Messrs Mark Sullivan
Lppmann and Hugh johnson like
will
Call me from wrong.