Evening Star Newspaper, September 2, 1929, Page 15

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Special Dispatch to The Star. NEW HAVEN, Conn., September 2.— The stock market advance broadened last week, every group participating, and a much larger proportion of issues show- ing _appreciation than has been true during the preced- ing three weeks of the present phase of the up- swing. * Not one of the 25 issues in the com- mon rail group de- clined, 22 closed higher for the week with 10 to 20 point gains made by Cen- tral of New Jersey, Santa Fe, New York Central and Union Pacific, ~ Nine of the 11 Fisher. steels made gains, Byers, Republic and Youngstown being largest. Ten of 19 stores stocks rose, Macy and Sears for big gains. Twelve copper stocks of 21 were up, American Smelt- ing, Anaconda, Greene and St. Joe lead- ing. Although 12 of the 23 ofl stocks showed net issues to 5 which showed gains for the week, a net group gain was shown with Pan American B and Union Oll showing the best advances. Of the entire 225 common industrials used in the indexes, 103 issues made gains for the week, 87 fell and 35 show- ed no net change. New all-time highs were made during the week by the foods, & fraction above the previous peak on July 19. Coppers touched the highest since April 5. The stores group made & daily high on Friday. ‘The rails made a daily high on Thursday and almost equaled it Fri- day. The utilities made a daily high on Tuesday and a high weekly record. ! The all-industrial index made a daily high on Friday and a high k. Preferreds went to the highest point since March 22. ‘The compact survey of New York Stock Exchange movements of common industrial shares is given below in price indexes (1926=100). There are two in- dexes of market price movement. The first (“Shares Outstanding”) represents all common industrial shares listed on the exchange, the importance of each stock being considered according to the shares in existence, or outstanding. The second index (“50 Leaders”) shows the price movement of the common indus- trial stocks most heavily dealt in during the week, this list changing weekly with the shifts in trading popularity. The “Shares Outstanding” index shows what a substantially representa- tive $100 worth of stocks in 1926 would now amount to if held unchanged sinee that year. The “50 Leaders” index shows the result of reinvesting the $100 every week in the market favorites of that week. ‘The last column of the table gives the rate of return on the week's 50 leaders at current prices. Share Fitty out- ~ market anding. leaders. Trving Rate Week ended— August 30. 31% 43% 50% 4 407 9) (Jan.'28) 1.8% (May '29) (Copyright, 1929.) | Commodity Notes Cement. DETROIT, September 2.—Cement production so far this year in Mich- igan has been more than 10 per cent in excess of that for the correspond- ing period of 1928, but in the last two months output has steadied to about 1928 pace. Lumber. NEW ORLEANS.—Mills of the South~ ern Pine Association show orders re- ceived dropped 31 per cent to 63,288,000 feet in the last week. Shipments rose to 66,127,000 and production fell off 4.4 per cent to 66,380,000, Unfilled orders total 79,917,086 feet. Aviation. SACRAMENTO.—The State fair to be held this month will not include au- tomobile exhibits because of a dispute over price of floor space, but will have an extensive exhibit of airplanes for private and commercial use, Oil. OKLAHOMA CITY.—Oil operations in the Oklahoma City fleld are being pushed, with new wells being spudded in nearly every day. Many wells. are drilling in the field, perhaps 85 in all, with depths varying from jus spudding to near production. Live Stock. ST. PAUL—About the fifth of the net income of the farmers of the Northwestern grain States comes from the feeding of live stock and market- ing of stocks and meat products, ac- cording to a survey of four States just completed. Shoes. BROCKTON, Mass.—The position of the shoe industry is showing an im- provement from a technical stand-i and the volume of business which int 5‘.’; opening of schools and colleges will b has already' been reflected in factory activity. PARIS BOURSE PRICES. PARIS, September 2 (#).—Prices were firm on the Bourse todlay. Three per cent rentes, 75 francs 80 centimes; 5 per cent loan, 103 francs 95 centime: exchange on London, 123 ffancs 9315 centimes. _‘The dollar was quoted at 25 francs 57 centimes. White Rhino Becoming Rare, | Wall Street Briefs By the Associated Press. A Swiss group, including the Swiss- American Electric Co. and the South American Electric'Co., has recently ac- uired an interest in the enterprises lectricques Reunies de Bogot, which g'nolahu electric power to the city of Harvesting operations in the prairie provinces of Canada are proceeding un- der ideal conditions with threshing be- coming general, it is stated in the latest crop report of the Bank of Montreal. ‘The yield was said to be slightly better than'was expected. Having closed the first half of the year with business substar:ially ahead of any previous month's period, auto- motive parts and accessory makers maintained heavy schedules through- out July and August, and will appar- ently ope throughout the ird quarter at a higher level than is usual for this time of the year, the Motor and Equipment Association reports. R ‘The General Gas & Electric Corpora- tion has completed the third unit of the Parr Shoals steam generating station, increasing its South Carolina 1lities by 30,000 kilowatts, to a total of ap- proximately 72,500 kilowatts. The United States Treasury has called for payment by depositary insti- tutions in the second Federat Reserve district of $9,419,600, of which 50 per cent is due Monday and 50 per cent Tuesday. FRIDAY AGAIN RAPS REDISCOUNT RAISE Economist Insists New York Bank Was Wrong in Boosting Rate. BY JOHN F. SINCLAIR. Spectal Dispatch to The Star. NEW YORK, BSeptember 2.—David Friday, American economist, one of the most severe critics of recent Federal Reserve policy, belleves the Federal Reserve Bank of New York was wrong— dead wrong—in raising the rediscount rate from 5 to 6 per cent. He sees no justification in the move—believes it is the result of & misjudging of both facts and public opinion. Cash reserves are not being impaired, he says. They were nbt impaired when the increase was made. The ratio of gold reserves against demand deposits and notes in circulation was 74.6 per cent, when the rate was increased. The law states that the legal reserve must be at least 40 per cent. The New York Federal Reserve Bank had nearly twice the legal requirements when the rate was raised. Why then, should credit be restricted? Could Increase Credit. Member bank credit, he says, could be increased $10,000,000,000 and note circulation increased by 15 per cent, or nearly $400,000,000. Still the reserve ratio would be 60 per cent, or 50 per cent higher than is required by law. The fighting David goes further. He declares that the credit reserves are in excess of what is needed. For the sale of large amounts of goods abroad last year caused gold to flow back into the United States. Under the gold stan- dard this constitutes the foundation of reserve credit. If we are on the gold standard we ought not to be playing with some other standard. Hardly more than $300,000,000 of ad- ditional reserve credit will be needed before November, to remove crops and take care of legitimate business. We have already $100,000,000 more in circulation than normal—cause, new paper money. This credit demand can be met and the reserves can be kept ‘The white rhinoceros, the third larg- est of living animals, is rapidly decreas- ing In numbers. They haunt a small area on the Nile in Uganda, where there at 70 per cent. Recalls 1927 Action. Now that was the figure—70 per cent gold reserve—that the banks had in 1927, when the rediscount rate was not 6 per cent, or 5 per cent, or 4 per cent, but 312 per cent. + At that time, Dr. Friday insists, Fed- eral Reserve officlals lowered the rate to 31; per cent from 4 per cent because of a mild recession in business, which started about June, and also because of the peculiar credit stringency in Europe. ‘The exact conditions exist today, says this economist, and yet the rediscount rate has been raised, not lowered. Dr. Friday's statement can be read in full in the current Review of Re- views. (Copyright, 1929, by North American News- paper Alliance.) - JEWISH CHILDREN LEAD IN PALESTINE SCHOOLS 68,000 Is Total Attendance in 1927-28, Holy Land Educa- tional Survey Shows. JERUSALEM (#).—According to gov- ernment reports, more than 68,000 boys and girls attended school in Palestine in 1927-28, The entire pop- ulation of Palestine, this side of the Jordan—and the figures only refer to that region —numbers about” 900,000. Hence the schools reached one person 13. Jewish puplls in Jewish schools, for the greater part maintained by the Zionist Organization, account for 41 per cent—the Jews form about 17 per cent of the poulation—almost 31 per cent fall to the share of the govern- ment schools, exclusively maintained for the benefit of the Arab population; 21.6 per cent to that of Christian in- stitutions and 6.6 per cent to Moslem schools. The Moslem Arabs, howsver, mostly send their children to government or mission schools. The Christian institutions are for the greater part in Roman Catholic hands. In 1926, for instance, the Roman Catholic schools had a pupil‘at- tendance of 10,400, against 3,300 for the Protestants and 2,100 for the Greek Orthodox. This is all the more note- worthy, inasmuch as the Orthydox are numerically the strongest among the Christian denominations in Palestine. Of the Roman Catholic schools a third are under the control of the French consulate, According to the figures given for 1926, however, more than half of all the Catholic pupils at- tended these schools, TRADE UNION‘MOVEMENT HELD ECONOMICS FACTOR 2| By the Associated Press. BELF, First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. Established 1899 INVEST YOUR FUNDS In 6% and 6%% First Trust Notes DAVIS MAKES FIVE LABOR DAY TALKS Secretary, Pioneer of Holiday Plan, Speaks Here and in Pennsylvania. James J. Davis, Secretary of Labor, who before “Labor day” had been set aside as & national holiday made speeches in favor of it and has con- tinued to make them since it became segal, reaches his top record this year by making five, all carrying the message of an American labor freed by the modern machine from straining of sinews. ‘They will reach more hearers than any other short “speech swing” of his career, except in political cam- paigns. One, by radio chain broadcast, went into American homes Saturday night. To his aged father, blind because of a mill accident, the Secretary radioed a gunlnt song in remembrance of a Labor lay when the elder Davis paraded a puddling furnace down a Pennsylvania street, Thousands listened to Davis® own story of that early industrial era when labor meant “the sweat of the brow.” Four in Pennsylvania. His radjo speech last night at Taren- tum, Pa., was followed by three more “‘open-| addresses today. Coal miners, steel workers, aluminum work- ers, factory hands and members of railroad brotherhoods will have heard him when the all-day picnics ate con- cluded. From rentum to New Ken- sington and on to Tyrone and Altoona he “wil! rush, speaking his message to his “home folk” of Pennsylvania indus- trial towns. \ “Labor day has' not lost its sig- nificance,” he says; “not a bit of it It is the day we rejoice in being re- lleved from the load on our backs! It is the day we triumph in getting more for our leisure.” At 14, then president of a boys’ union, with four laboring years already behind him, James J. Davis_made his first “Labor day” speech. Boyishly, he de- clared in favor of some leisure for labor. Recalls First Efforts. ‘The Secretary was ready to start on his 1929 speechmaking trip when he paused to recall that first oratorical effort. He stood in the reception hall of his luxurious home. The holiday spirit was upon him. His brown eyes shone beneath hair crisply and hand- somely white as he humorously pictured the boy iron worker who become cabinet member for.three successive Presidents. “Yes, I've been a long while in the Labor day speechmaking business,” he commented. “First I made them in favor of Labor day. Then I made them on Labor day. I haven't missed a single celebration. I've made them all over the land and on the sea. Last year I was on shipboard and talked to my fellow passengers. “When I started, labor was labor. Now a finger pressure on an electric button does the work. One man feeds oil to fire the boilers where 49 shoveled coal. A machine turns out 49,000 bricks per_hour in Chicago. “The workingman no longer parades his trade. He is either in an industry too highly specialized for parade pur- poses or he has a nice little hot dog business of his oyn on the highway. In either case it is his leisure, not his labor, that he celebrates today.” TWO FOREST FIRES THREATEN WIDE AREA Wisconsin Farms Endangered by Flames Which It Is Found Are Beyond Control. By the Associated Press. LAKEWOOD, Wis., September 2—A wide area of farm and timberland in this Northeast Wisconsin district was endangered today by two forest fires. State conservation wardens sent out a call for help and predicted that un- less it came soon the fires would become uncontrollable. One blaze sweeping over a 5-mile front destroyed a farm- house and threatened others nearby. A fire near Townsend, east of here, which started in the ashes of a similar conflagration three weeks ago, cast a pall of smoke over State highway No. 32, principal tourist artery to the North Wisconsin lake district. Closing of the road to traffic was forecast unless the smoke lifted. Neither this village nor Townsend was believed to be in danger. FARM HOMES DESTROYED. Rapidly Spreading Forest Fire Vigor- ously Fought in Oconto District. OCONTO, Wis., September 2 (#).— A new and rapidly spreading forest fire last night was sweeping through cut- over timber land in Northern Oconto County. All the men in the district were recruited to fight it. ‘The fire, starting from smoldering embers in slashings which were burned several weeks ago, destroyed two farm homes and forced farmers to flee. FILLING STATION ROBBED. Theft of $62 From Safe Is Re- ported to Police. ‘Theft of $62 from a gasoline fillin; station at 832 Bladensburg road was reported to police of No. 9 precinct yes- terday morning at 10 o'clock by the manager, Harold F. Taylor of 484 Mary- land avenue sosthwest. He said the safe had been left unlocked by an em- ploye and that the money was missing when he opened for business. ——te Mrs. Levi Cooke in Hospital. Mrs. Levi Cooke of 2409 Wyoming avenue, prominent in social circles here, il in the underwent an operation Thursday for an abdominal allment, according to word received here. Complications fol- lowed the operation. CITY NEWS IN BRIEF. ‘TODAY. x nthly meeting of the Gen. Henry w.‘fiwwxy\ Camp, ?io. 4, United Spanish War Veterans, will be held tonight, 8 o'clock, Pythian Temple. FUTURE. Columbia Park Citizens’ Association the. George Truesdell N:nth and Ingraham University Club tomorrow, 12:30 p.m. [ 4 Rt ‘The De t Council of Adminis- meet af southeast Wednesday evening, RIALTO—"Broadway.” “Broadway,” the glamourous, talking, singing, dancing, shooting picture, with which the Rialto opens the season, is a story of Broadway and its show people. It gives a glittering display not only of the theatrical entertain- ment presented at a widely futuristic night club in New York, but carries along through this entertainment a back stage story of highly dramatic flavor, involving the love of Roy Lane and Blllie Moore, entertainers, and the hl‘gu bootlegger “menace,” Steve Cran- dall. The camera work is picturesque in itself, with traveling shots of the modernistic night elub and a symbolical superimposition of a giant, taller than Broadway's tallest buildings, striding down the street of gayety, as an im- presstonistic introduction. For those who like the tense drama, virtually melodrama, of the modern underworld, “Broadway” carries a strong appeal, with the bootleg king and his henchmen, murders right and left, and a masterly cop, played by ‘Thomas Jackson, who proves one of the best actors of the whole cast. For those who like their songs and dances, and the merry-merry, “Broad- way”.has numerous whirls of typical Broadway stuff, with girls running around in the dressing rooms, back stage, and singing and dancing out front 'in gorgeous costumes. The lead in this Carl Laemmle feature from the stage play, is taken by Glenn Tryon, who has the role of Roy Lane, and he is ably supported by Myrna Kennedy as Billile Moore, his sweetheart, The liquor king is played by Robert Ellis, which Paul Porcasi gives a foreign touch as proprietor of the night club, There are no dull moments in “Broad- way.” It races along through merri- ment, terror, murder and crime. The bizarre, flashing night life of the great American street. of play, is depicted with speed, compelling interest and beauty. The synchronization and mechanical talkie could be improved. The supplemental program includes a colorful and romantic picture of Hawaii, and The Evening Star-Uni- versal News reel, with pictures of the Graf Zeppelin and many other in- teresting “shots.” EARLE—"Dark Streets.” With a graduate's diploma from “smart-stuff” comedy and an unbellev- sble penchant for a heavier dramatic fare, Jack Mulhall gives an almost per- fect performance of a dual role in “Dark Streets,” at the Earle this week. This exciting version of the black sheep and the white sheep, twin brothers who play the crime game from the angles of policeman and gangster, re- spectively, provides the vehicle for an amazingly fine character portrayal on the part of the star. The movies have played with this “double” trick again and again, but never has it been done so intelligently and with so nice a dis- tinction of personalities as Mulhall gives us in this edition. “Pat” and “Danny,” the brothers, are “Pat” and “Danny” and not, like most being ald of extravagant make-up Mulhall has drawn two distinct characters in a really convincing manner. Lila Lee, who plays the girl in this almost “one- man” picture, has little to do, which she does somewhat below par. Her act- ing is good enough, but the role is a little miscast, and then her work in “The Argyle Case” set up for her a dif- ficult standard. Aggie Herring and Lucien Littlefield add a touch of comedy to a pleture which is, on the whole, rather grim tragedy. ‘The story itself is another chapter from the scenario volume of gang wars, but it has its climax in a heroic gesture with a real O. Henriesque twist, This week the Earle is “stepping out” with an added attraction that is help- ing to pack them in for what indicates a record week. The theater presents Kate Smith, one of Washington's most popular contributions t& electric lights, and she sings two numbers well. But it is with her encore, “St. Louis Blues,” that she really “takes off the roof.” As usual, the Earle offers a long list of “subs,” featuring a very interesting edition of The Evening Star news reel. A really funny sound comedy concer ing the heart throbs of a Swedish ele- vator girl, a horoscope reading for Sep- tember and a Labor day “sound” short are also “addeds.” Nor should the or- chestra’s excellent playing of the “Show Boat” selections be overlooked, being in itself one of the high spots of a long, but good, bill. FOX—“The Cock-Eyed World.” Top Sergt. Flagg and his battling buddy, Quirt, are just about the whole | show in “The Cock-Eyed World.” This play by Laurence Stallings and Max- well Anderson, with dialogue by Wil- liam K. Wells, opened at the Fox ‘Theater yesterday with a record crowd in_waiting. Billed as a sequel to “What Price Glory,” the picture contains nothing original, but derives its punch from the able efforts of Victor McLaglen (Flagg) and Edmund Lowe (Quirt), effectively assisted by Lily Damita and El Brendel, late of vaudeville. ‘The Upited States Marine Corps didn’t know what it was missing when it let McLaglen and Lowe escape to Hollywood, for these two gentlemen are just” about perfect when it comes to fitting into the public’s conception of what a swaggering, fighting, lady-kill- ing Leatherneck should be. “The Cock- Eyed World” could never be mistaken for the work of pacifists, for it is flavored rather decidedly with mili- taristic propaganda. While there may be some question as to the propriety of using movies for such purposes, this particular show does not suffer appreci- ably from its presence. McLaglen and Quirt are masters of rough-and-ready fun, their performance in this picture being fully as good, if not better than in “What Price Glory.” El Brende], who was a top-notcher in variety before going over to the movies, comes through with some real comedy. His “horse-laugh” was one of the pic- ture’s highlights, and it caused no little distress to the sensitive Sergt. mn.l Lily Damita’s flashing smile and coy manner, to put it mildly, served admir- ably to kweep f.t;‘e Marine Corps on its toes, so to speak. The picture opens with the Marines in Russia, takes them back to Brooklyn and then to the tropics. The entire trip is filled with fun and the laughs are many and spontaneous. If you like your movies light, airy and funny, “The Cock-Eyed World” has just the things you're looking for. ‘There is a prologue which lacks noth- ing in originality and which is highly effective in preparing the audience for the picture that follows. . Because of the length of the feature | the stage show has been omitted, the Fox Movietone News being the only ex- tra feature, Mable Walker Willebrandt, [ discussing prohibition and her new job, receives a generous measure of both ap- plause and hisses. PALACE—“Speedway.” Too much “horse play” seriously dims the sparkle which might otherwise ema- the dictionary. Ernest Torrence does his bit well the character of Mac- Donald, veteran racer, whose love for the boy, Bill, transcends his disgust for his boasting ways. Karl Dane adds a touch of humor here and there, but he is given little opportunity. It's & Haines picture—all Haines. Val and Ernie Stanton, stage come- dlans, liven things up with their several eppearances. Al Evans is much in evi- dence as the new master of ceremonies and a very able director of a syncos pating jazz group, but he didn't tell us who was in the cast. There are two daneing sisters who prove very popu- lar, backed up by a pretty choral group in beautiful costumes, and there is a team of acrobatic dancers—a man and a girl in Indlan costume—whose inter- pretation of some old Indian love lyrics is most pleasing. The entire stage show is excellent. METROPOLITAN—“The Argyle Case.” An excellent detective story, excel- lently filmed, “The Argyle Case,” which opened its second week at the Metro- politan Theater Saturday, is well de- serving of being held over. With its logical, clear use of psychology on the part of the brilliant, yet thoroughly human detective hero, the story is worthy of a place beside Conan Doyle's best, efforts, Thomas Meighan, who has long been firmly established in popu- lar appeal due to his acting abllity and personality, is admirably cast in the leading role. His voice, too, records re- markably pleasingly. One still remembers Mr. Meighan in some of his pictures of several seasons ago when Lila Lee was his leading lady. Miss Lee is just as successful and ap- pealing in that role in this picture, too. H. B. Warner is equally well cast in another role that turns out, at the end, to be of supreme importance. Zasu Pitts and Gladys Brockwell, other tried troupers of the screen, also are intelll- gently cast and give good characteriza- tions. Other members of the cast are well fitted to their roles, Particularly praiseworthy is the very human quality of both dialogue and action, and the easy naturalness of the diction of all the acuors concerned. “Chere is not one voice that records disagreeably or gives A false note in characterization. The plot moves swiftly, thrillingly, yet sen- ?xhly to a surprising and satisfying end- ing. Two short comedy reels, one a sketch about a newspaper reporter, the other & modern version of black-face come- dians, typical “end-men,” give variety and the newsreel completes the bill. THE COLUMBIA—“Madame X.” “Madame X,” the intense Prench melodrama, is sfarting its second week at the Columbia. The intelligent work | of the notable cast, headed by Ruth Chatterton, Lewis Stone and Raymond Hackett, combined with the very able | direction of Lionel Barrymore, do um-l ple justice to the original play. It is a production of which the Vitaphone may | be justly proud. The story of “Madame X" concerns ! a French gentlewoman, who because of the austerity of her husband leaves | him and their young son for the love of another man. A year or two later| she, hearing that the boy is ill. com back to see him. The husband, em- bittered by her desertion, refuses her request, saying that the boy thinks her dead. From then on the wife gradually sinks to the very dregs of life, a_slave to absinthe. However, through all her degradation she is faithful to one pu pose—that her son, who now has be- come an attorney, should never know or suffer because of the sins of his mother. She falls into the hands of a crook, who intends to use her as a| source of blackmail. To prevent this| she murders him and is brought to trial. It is here that circumstances are so assembled that the climax is terrific in its emotional intensity and relentless- ness, for by chance the son is appointed by the government as the defense at- torney of “Madame X.” “Madame X” is an interesting study of the art of make-up, for 20 years elapse during the story, during which time is portraved the marks of advanc- ing age and. in Miss Chatterton's role. | the effects of continued dissipation. GAYETY—"Hello, Paree.” ‘The Gayety enters its second week with a production, “Hello, Paree,” which ing ‘The fast-moving entertainment, with plenty of music and comedi” At the head of the funmakers is Hickman, 4 tramp comedian, and the - feal sinfier in the cast is Mildred Frankl well known to burlesque fans. Othe! of the cast who deserve special mention are Bert Bernard, Eleanore Abble, Eddie Miles, Alan Bard and Minerva Marsh. Many of the songs of “Hello, Paree” are new to Washington theatergoers. 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