davidaulloa/AmericanStories huggingface dataset:
Evening star., 1953-05-24
New York Cotton

NEW YORK, MAY %. 1.-THE cotton
futures %arket lost tte bdt sh5
directions but declines more than on.
set gains and the dominant trend was
Futures contracts TRADED on the, New
York Cotton Exchange took net losses
which ranged from % to 80 cents cents,
6erns 6sis WITH The he mest nesIsy ess
Short covering and transferring OF
hedges aided the. July contract. The
eonSsed o. oS wsher in pan
ing areas, plus announcement Of new
Mutual Security Agency grants to Fu-
sosIfvla Tbese and inuences were counterscd
by renewed prospects of truce in Korea
and slow business in exports ana IN
the textile market. ,,., l.,
this week that 1853 plantings could be be
sSPseted to bss sSta basis aEounS the NeS Yos
cotton exchange said. crop OF o.
3S5,00O bales would be in prospect.
Last years paintings amounted 10
Also OF Of interest to traders was an
nouncement of the Census Bureaus re- re-
port on nsrod eaten ended May This
totalled 905,O00 bales against the ex-
changes earlier estimate Of 920, 900. ~,
For the season 5hTOuEh MaS Sales miss
compared with 7,O61.OO0 at the same
time last year.
For the five-week April period March
90 to May - United States cotton con-
Sumption averaged 36,100 bales a day;
compared with 3S60O in March and
$4,000 in April. 1852. While the April
drop was considerably less than the
average decline reported for this period
over the last five years, exchange OIL
Total cotton stocks in all hands n
the UrJted States at the end OF ApIA
amounted to S.l11.000 bales VS.. 5,355.-
900 bales at the same time last year
99i 900 bales for the past 10 years.
OF the current stocks. 2S per cent were
cent in 1875" and 3 percent in 1851.
Exports for the week ended May ~
totalled $4,000 bales vs.. 1000 the
week before and 100000 in the ike week
last year For the season. exports were
2,510,OOO bales VS.. 5,lOS,0OO year
earlier.
Evening star., 1953-05-24
TO A$70oO man
WHO never HAD
4 CHANCE
Word from The
Wall Street Journal

You probably had chances. Every
man does. But you didn't recognize
them. Or you were not ready. Or you
took the wrong chances.
Why not do something construc-
tive about your problem! Lots Of
men are avoiding mistakes and get
ting ahead fast by following The
Wall Street Journal get-ahead plan.
The plan is simple. You just read
The Wall Street Journal every day
and heed its warnings and keep your
eye peeled for the opportunities IL
offers.
New inventions, new industries,
new ways of doing business, new
opportunities to get ahead-Ths
Wall Street Journal is full of these
things.
If you think The Journal is Just
for miIlionaires, you are wrong. The
Journal is wonderful aid to salaried
men making 81, 900 to $40, 900 year.
It is valuable to the owner Of small
business. 1t can be of priceless benefit
to the ambitious young man who
wants to win advancement and earn
more money.
Because the reports in The Wall
Street Journal come to you DAILY.
you get the fastest possible warning
Of any new trend that may affect
your business and personal income.
You get the facts in time to protect
your interests, or to seize quickly .
new profit-making opportunity.
The Wall Street Journal is the
complete business DAILY. Has larg-
est staff of writer's on business and
finance. The only business paper
served by all four big press associa-
tons. 1t costs $50 a year, but you
can get a Trial Subscription for 3
months for $6 lin US. and Posses
xions). Just tear out this ad and at
tach check for $6 and mail. Or tell us
to bill you. Address: The Wall Street
~ Broad Street, New
York 4, N. Y. ws s,1I
Evening star., 1953-05-24
Business Briefs
RituminOus Production in the

BituminOus Production in the
week ended May Is totaled g.
$4,000 tons compared with
8.815.OO0 tons in the previous
week.-National Coal AsSocia-
ton.
Crude Petroleum Stocks, do
mestic and foreign. on May Is
totaled 267, ,848, 900 barrels, down
1,337,000 for the week.-Bureau
of Mines.
Motor Vehicle Production last
week was put at 130,624 cars and
20,937 trucks against 141,9O5 and
23.706 the previous week and
92.475 and Is, 5,308 in the like week
of 1852. Further reductions in
output are predicted.-Ward's
Automotive Reports.
Safeway Stores, Inc, in the
United States in weeks ended
May Is had sales of $119,872. .129,
up TO from 1852; for 20 weeks
ended May 16. $593,164,839, up
1870 from 1852.
Illinois Power Co. in II months
ended April 80 earned $9,102,653
or $2.71 q share VS.. $4,000, TOT
or $2.76 in 1852.
Tennessee Gas Transmission
IN 3 months ended March 81
earned $4,473,911 or A cents a
share VS.. $4.182,184 or AZ cents
in 1852 period.
N. E. Gas g. Elect. Assn. in IL
months ended April 80 earned
$2,890,929 or $1.40 q share VS..
$2,511, ,981 or $1.23 in 1852.
Midwest Oil Corp. in 3 months
ended March 81 earned $1,440,-
434 or SIS cents a share VS.. ST.
337, ,458 or so cents in 1852 period.
Iowa Southern Utilities in IL
months ended April 20 earned
$1,264,191 VS.. $8O2,O88 in 1852.
United Electrical Coal Cos. in
9 months ended April 80 earned
81 1,121.9 .942 or $1.65 a share VS..
$1,247,165 or $1.84 in 1852
period,
Evening star., 1953-05-24


veteran of "a years in the securi-
ties business. He has done out
standing work in the field of
mutual funds and heads that de-
partment of his firm. He played
q major role in the organization
of the Washington Mutual In
veStors' Fund, first of its kind
here. and serves as executive
secretary.
He is a member of the Wash
ington committee of the Phila-
delphia Baltimore Stock Ex-
change and has been active in
the establishment of the eX-
changes facilities here. He is a
past president of the Junior
Chamber of Commerce and is a
graduate of the National Uni
versity Law School.
Other new officers Of the club:
Thomas L. Anglin of Mackall &
Coe, vice president: Robert T.
Norman of Auchincloss, Parker
& Redpath, secretary-t treasurer,
Francis Hunter of Merrill Lynch,
Pierce, Fenner & Beane and
Norman Farquhar of Alex Brown
& Sons were elected to serve
with the officers on the Board of
Governors.
Evening star., 1953-05-24
The LoW-DoWn
ON Mutual Funds!

In the only study of its kind,
FORBES boldly appraises Mutual
Funds from the investors point
of view. In language YOU can
understand it gets behind all the
sales talk" to bring you the facts:
Which Mutual Funds are
the star" performers-show
biggest capital gains over
the years compared with the
Averages" which have
greatest management "savvy"
which have worst records
Of performance?
Which have load" charges
of go or more-which make
NO LOAD" CHARGES?
Which show best l2-year
average yields-which poor
est?
Must" reading for every investor
who owns or expects to buy q
Mutual Fund.
To acquaint you with FORBES
Magazine and its financial and
business studies by top-ranking
We offer you reprint
of The Low-Down on Mutual
Funds" with your FORBES sub
scription for a whole year ga is
sues for only IS. Send no money
now, pay later when billed. Or get
extra issues service-30 for the
price Of "a, each one with latest
Fund developments. by
sending S. now. Address Dept.
R-55, FORBES. 90 Fifth Ave-,
New York II. N. z.
Evening star., 1953-05-24
Chicago Grain

CHICAGO May %. P.-The 1a5e
Waeat crop brought the lowest price for
wneat thie since 1850 on the Board Of Trade
Prices skidded down as the first cars
OF new crop wheat started to trickle
IN INTO tern terminals in Texas and the problem
1ronted both the grain trade and the
q. Everything went down with wheat. For
rye; 2la-224 lower; soybeans 3-3a+ lower;
ana an ,srd - to 80 cents a hundred
The problem Of storage space for wheat
was empha sized by the Governments s
moves to put wheat in the "mothbaLl
Dor It appeared that the Hudson River
was destined to become a storage termi-
Current stocks of wheat at terminals
largest on record Tor interior mills. eie-
sood ado exsmnle xaTsdeussS of tb. s,ut "a
vided by Kansas the major Stste for
farm total Of wheat on April ]. the last
totaled 1916 S21. 900 bushels. more than
double the 60.2S0.000 total a year ear
lier, Ln,. .to,o .,,- - ,.
as reason late in the wei week Tor for news news
the Commodity Credit Corp. had inaug-
ursted program Of selling wheat on the
open market to mills The trade under
stood sale: were made of wheat which
had poor keeping qualities. particularly
hfgh-protein wheat.
The prospect was good. in the opin-
ion OF some seRments Of the trade, that
CCC selling would increase. They based
their helief on the fact that increasing
amounts Of wheat. defaulted on Govern
ment loans. is coming out of farmers
bins and into the hands Of the CCC
The Agriculture Act of 194a which 4
the one under which the country is still
operating prohibits domestic sales oi
basic" grains which have come into
the Gees possession at less than los
per cent of the current support price
with some important executions
TO sell wheat to domestic users. thu
CCC must be selling far under 105 pel
cent Of the current support price. Th'
SUPPORT price on 1852 erou wheat wa.
$3.50. national aver4ge. The mid-Apri
far~ price was go O$.
However the law provides the CCC
may soll on the open market commodi
ties which have det$riorated in oualit,
fs,,rs Or are in nn,,! danger Of 1oss or vast.
lsrss quantities o, Eorn on TIE ooer
Of this provision IN the law. Many
traders feared tho {ame policy r'iah'
now he adopted with respect to wheat
Range Of prices for the week:
This last
Evening star., 1953-05-24
Bonds Tilt Downward
In SeIective Trading;
Governments Lower
By Arthur Merims
Associated Press Financial Writer

NEW YORK, May 23.-Highly
selective trading produced a
slightly lower bond market this
week, despite moderate demand
for medium-priced railroads and
industrial obligations convertible
to common stock.
Government bonds were un-
changed to off a quarter Of a
point. The 21as of 1858 slipped
8/32 over the week at SO 1892
bid, a new low. Long-term Vic
tory 2l2s and bank-eligible 2l2s
of 1967-72 lost 4f32 at 81 1882
bid. And the new 314s ended
1872 lower at 80 1882 bid.
Most Changes Minor.
Changes in the corporate list
were minor for the most part.
But a few issues lost heavily.
These reflected over-the-counter
declines which developed during
the past month.
On Thursday, for example.
Texas & New Orleans 33ss fell
7l4 points at 8734 and A. P. w.
Products SIS lost five points at 81.
On Friday Bethlehem Steel IS
dropped 5a4 points at 90 and
Gulf, Mobile & Ohio As ended
four points lower at 9712. All
were 1853 lows, of course.
Foreign liens were irregular.
Italian issues tended to lose
ground in view of the uncer-
tainties over the upcoming ma
tional elections. japanese bonds
we're steady, with changes mar
row. Uruguay convertible 4hss
dropped five points during the
week at 83.
Evening star., 1953-05-24
Production Continues
AtNear-R Record Pace;
Tax Outlook Ignored
By T. {. AppIegote
Associoted Press Business Writer

NEW YORK, May 23.-Busi-
ness took in stride this week
news of it's Federal tax pros
poets.
Except for a strike imposed
cutback in automobile Lroduc-
ton, industrial output swung
along at its near-record pace.
Retail volume picked up, ex-
cept in some durable goods.
But tax proposals held the spot
light. Most pertinent of these
were:
Recommendations Cited.
President Eisenhower's recon-
mendations for Six-month eXten-
sion of the excess profits tax
anathema to many business
leaders-and for indfinite post
ponement of the scheduled drop
in corporate income taxes next
April !.
Businessmen long have con-
tended the excess profits tax
stiles profit incentives. Nor are
they happy about the 50 per
cent tax rate on corporation in
come.
Fate of the White House pro-
poSalS in Congress was uncer-
tain.
The Treasury disclosed a Fed
eral sales tax is being considered
as part of the general tax law
overhaul. Such organizations as
the National Association of
Manufacturers have advocated
this type of tax.
Balanced Budget Predicted.
Secretary of the Treasury
Humphrey predicted a balance
between Federal income anc
outgo by June, 1854.
And Undersecretary Marion B.
Folsom said the Treasury ex-
poets corporate profits will b
higher this year than in 1852
and will continue very high"
until July /, 1854.
In the retail field, F.. w. Wool
worth disclosed it hopes to add
40 new stores this year to combat
competition from chain drug
stores and supermarkets.
Evening star., 1953-05-24

annual outing
Friday.
For m e rly
vice preSi-
dent, M r.
Nees succeeds
Milla ard F.
West of Au-
c in SIS,
Parker & Red
path.
Mr.. NeeS is
a past preSi-
dent of the,
w q S h ington
Stock EX-
Evening star., 1953-05-24
Win Trip to Coronation

Mr.. and Mrs. Goodbinder of
Lady's. Inc, Washington appli-
ance chain, are among Al deal
ers of Admiral Corp, who have
been awarded a 11-day, all-ex-
pense air trip to London for
the coronation. They will leave
New York today.
Evening star., 1953-05-24
Bond Club EIeVates
Nees 10 Presidency
Al Annual OUTING

Bernard ]. Nees, partner of
Johnston. Lemon & Co., was
elected president of the Bond
Club of Washington at the clubs
Evening star., 1953-05-24

obtained from the National Association
OF Securities Dealers, Inc, and other
sources. but are, unofficial; They do not
represent actual transactions; they are
range within which these securities could
have been sold Indicated by, the bid) or
bought indicated by the asked al the
Origin of any quotation furnished on
Evening star., 1953-05-24
Bond Summary

a list Of most active bonds on the
New York Stock Exchange. showing the
high. low and closing prices for the week
and the net change frOm the previous
weeks close.
Evening star., 1953-05-24
American Summary

FURNISHED by the Associated Pressl
A list u most active stocks on the
high. low and closing prices for the week
and the net change from the UreviOu.
weeks close.
Evening star., 1953-05-24
Dividends Announced

NEW YORK. May 23 R-Dividends
announced: Pc Stk. OF Pay
Rate. riod. Record. able.
ACCUMULATIVE-
ASso T & T S43 6-12 IL
Va Caro- Chem pt sI.50- 6-10 II
INCREAEED-
Delaware g. L --35c-- ~ T-31
NO ACTION
uJaS olaY nd
Evening star., 1953-05-24

Rates Of dividends In the fofegoinR
table are annual disbursements based on
the last quarterly or Semiannual declara-
tion Unless otherwise noted special or
extra dividends are not included
wd When distributed EY dividend.
b Plus stock dividend Declared or
paid in 1853 plus stock dividend Paid
last year Payable in stock 8 De-
clared or paid after stock dividend or
splitup K Accumulated dividend paid or
declared this year Paid this year.
taken at last dividend meeting v De-
clared or paid in 1852, plus stock dtvi-
dend. x-dk II distribution. , Ldoutdat.
cash value undetermined on declaration
date. ur Under rule. war With var.
rants. ~ without warrants. elACAued
% Part paid. nd Ne1t day dehSNry.
Evening star., 1953-05-24
Over-the-Counter Market
RONnS

'Plus extra or extras
Evening star., 1953-05-24
New York Bank Stocks

NEW YORK Nav % R.-National
ASSOCIATION of Securities Dealers. Inc:
Evening star., 1953-03-24
Light Downs on Daylight Saving

The Star is pleased to note encouraging
developments in regard to daylight saving time
Tor Washington this summer Senator Case has
introduced bill for immediate considera-
ton on his side of the Capitol. Chairman Simp-
son OF the House District Committee is willing
to reconsider the bill which his committee
voted down to 7 last week. Representative
Broyhill, who voted against the bill, is willing
now to vote for it. He was under the astonish-
ing impression that his constituents of the
Metropolitan Area were against it. This unfor-
tunate impression has been corrected doubtless
by his constituents.
The Case bill provides the sensible pro-
cedure OF delegating continuing authority to
the Commissioners to proclaim daylight saving,
thus keeping the controversy out of Congress-
Mr.. Simpson is willing to support that. It would
enable members of Congress whose constituents
In rural areas oppose daylight saving to get
themselves off the hook. Communications be-
tween Washington and other big cities are
geared to daylight-saving schedules in the
summer. The railroads, airlines radio, etc.,
adjust their schedules to meet the convenience
OF those who work on daylight saving time. If
washington does not go on daylight time this
summer, confusion will be worse confounded
and the amount of inconvenience to result NAV
not have been considered as carefully as it
should be by those who voted against the House
bill last week.
Evening star., 1953-03-24

"Is the day coming when they'll
license pedestrians?" read Templeton
Jones out Of the paper.
"A silly idea," commented Mrs.
Jones.
"Silly or not" replied Jones, 'the
idea has been brought up at meeting
Of the Commissioners traffic advisory
board.
"It says here that an inspector re-
ported that, of the 13 persons killed
in traffic so far, II were pedestrians.
place the blame on the poor, de-
fenseless pedestrian, of course" :" politely
snorted the MissuS. They've been do
ing this for years, and what good does
it do? No wonder walkers are killed,
when you see how the cars careen
around corners"
1.-THE man says" continued Jones,
'that instead Of passing more and
more regulations to govern motorists.
he suggested we start licensing pedes-
trianS.
'Now, that would be splendid idea.
Pedestrians have been fair game for
years anyway, so why not put price
on their heads?
"a good stiff price, and one square
inch Of the new sewer system would
be achieved.
IF O licensed walker gets hit three
times. he would be ordered OF the
streets, except in a motorcar. This
would be boon to automobile manu-
facturerS, too.
Then, after the former walker has
tAken to cars, II he gets into too MANY
Evening star., 1953-03-24

multiple charges. This lack could be remedied
by written order requiring assistant prose-
cutors to present to grand juries every provable
case against defendant, forbidding agreement
on dismissal Of any counts of an indictment
without prior specific approval of the United
States Attorney himself, and providing that the
same trial assistant should try all cases against
one defendant. The judges could help in the
breakdown by giving more consideration to a
defendants record of offenses, especially those
involving force and violence, and by handing
out more consecutive sentences than in the
past. Consecutive sentences serve notice that
multiplicity of crimes will be dealt with severely
not disregarded.
It would be good idea if the new United
States Attorney and the judges conferred on
means for making punishment At the crime
more effectively than has been the case too
often in recent years. Washington should be
setting an example for effective law enforce
ment instead of temporizing with hoodlums,
either Of the native or out-of-town variety.
Evening star., 1953-03-24
BY Charles E. TroceweN
Harley M. williams.

IF he still didn't pay his tax, half
'nipper would be clamped on his right
nostril.
'This would give him little air, but
not much. At the last, if still he re-
fused to pay up, he would be given an
admonitory blackout."
"a blackout?"
"Sure, Suffocation the thinkers would
call it. but such realists have no place
in modern community Modern cities
must have funds, and they never use
words exactly as other plain people
do. They say "A man was killed today
at Seventh and Pennsylvania avenue
Somehow the car seems to have
gotten out Of hand and struck the
man when he wasn't looking. You have
to be smart to know that another
human being was driving the car. after
all. The terrible pedestrian is always
to blame"
ITO get back to him." chimed in
Mrs. Jones. EFF he can't walk. and
can't drive car, what will become
of him?"
"That's easy" grinned Templeton
Jones. HE will be taken into protec-
tive custody. American style, and set
to catching rats at the National
Geological Park. Those pesky rats steal
the grain and other foods put out for
the animals and birds. The man who
can't walk and can't drive. under the
new dispensation. may still be per.
mitted to catch rats"
"Rats!" smil4 Mrs. Jones.
Evening star., 1953-03-24
This and That

accidents, they will take his motor
license away from him.
"ThiS will leave the poor guy unable
to get around at all. unless he can
fly.
''The time will come, am sure" went
on Templeton Jones. when a breath
ing tax will be levied"
That's an even sillier idea," COM
mented Mrs. Jones.
What's silly about it?" roared her
lesser one-third. Modern municipali-
ties need money, money and more
money, as everybody can see, especially
the taxpayer.
"A breathing tax would be just the
thing.
Think how flexible it would be. So
much money for so many cubic feet
Of air. The citizen could be tested
for his rate Of walking"
II thought you said he wouldn't be
able to walk then"
"And so many cubic feet of air could
be allotted him." went on Jones, ignor-
ing the interruption. IF he didn't pay
his tax, he would be warned that his
air would be cut or"
&
Sounds like murder to me. not tax
ation," said Mrs. Jones.
what is modern taxation but MUIR
der?" asked Templeton Jones. But
the way they would work the breath
: ing tax would be like this: After a
guy had been warned, the authorities
would call him in, and af1ix nipper
to his left nostril. A
Evening star., 1953-03-24
Case of Russell Perry

Miriam Ottenbergs story on 1.-THE
Charmed Life in Crime of Russell
Perry" in The Star of March 16, pre-
:sents only part Of Mr.. Perry's tale.
and leaves the impression that he is
smart prison lawyer" who has
feigned insanity to avoid conviction
for his crimes. AS the attorney ap-
pointed by the court to argue the
appeal, would like to amplify the
record.
The issue involved in Mr.. Perry's
appeal was very simple. At the be-
ginning of the trial that resulted in
his conviction, Mr.. Perrys lawyer at
that time asked the court to conduct
psychiatric examination of Perry to
determine whether he was insane and
therefore incapable of conducting his
defense. The lawyer advised the court
that Mr.. Perry had been committed to
st. Elizabeths two years previously, and
had been found insane by the st.
ElizabethS psychiatrists at that time.
The trial judge did not pass on the
motion, but instead proceeded to try
and convict Perry.
The issue before the Court of Ap-
peals was whether the trial judge was
required by statute to grant the mo-
ton of Perry'S lawyer and to order
psychiatric examination. Federal
statute passed in 1949 specifically re-
quireS that such a motion must be
granted whenever made by the District
Attorney or by counsel for the accused.
18 U. S. c. Sec. 4244. The Court Of
Appeals ruled that the trial judge had
foilod fn fn11nx1y fI1a 70 1o ,rk
therefore reversed and set aside, the
conviction. The court also noted that
the documents submitted to it showed
the request Of Perrys counsel for a
mental examination to have "Substan-
tial basis"
It may or may not be that the laws
relating to criminal insanity are be-
coming a loophole for hardened GRIM
inals, as Miss Gutenberg appears to
believe. But the Perry case in no way
tends to prove the point The Court
of Appeals reversed because the trial
court failed to follow the statutory
procedure for determining whether
Perry was insane at the time of his
trial. If the trial Judge had followed
the statute, the issue of sanity could
have been readily resolved at once.
If it had been resolved against Perry
the trial could have proceeded.
I am not competent to say whether
Perry was or is insane, and neither is
Miss Gutenberg. But st. Elizabeths'
own psychiatrists found him insane
two years before his trial. At the time
of his appeal in 1851, DR.. Winifred
Whitman, one of the city'S best-known
psychiatrists, examined his St. Eliza
beths record and found sufficient in
dications Of possible insanity to have
warranted a psychiatric examination
at the time of his trial in 1850. AS
noted above, the Court of Appeals,
while it had no occasion to pass on the
ultimate issue Of insanity, found the
request for a psychiatric examination
to have substantial basis"
A psychiatric examination to pass on