davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
Difference in Financing.
Henry CleWs' Views
On Steel Price Cutting

The price cutting that has been so
spectaoularly begun in steel bars and
other steel products is a development
whose intrinsic value as a stock market
influence II Is difficult to promptly ap-
praise. The spectacular and open part
Of the cutting was begun by the Repub-
lie Iron and Steel Company, which is
one of the largest competitors of the
United States Steel Corporation, and
which is credited with being largely
dominated by interests who, in the past,
have operated in the stock market in
highly sensational way.
The mills of the Steel Corporation
promptly met the cut of their COM
petitor, and thus, so far as steel bars
are concerned, the policy Of agreed
prices has been abandoned. The eX-
PLANTATION offered on behalf of the Re-
public Iron and Steel Company is that
it has not been receiving its fair share
of business because of the cutting of
prices by its own smaller competitors
The market for steel products at the
moment, therefore, seems to be an open
one, and the developments of the next
few days will probably indicate the de-
gree of seriousness that this arrangement
In the iron and steel industry should
be accorded The current break in the
price agreement is a result that fire.
uuently accompanies such agreements.
When the demand for the products of
the mills is active there is no necessity
to reduce prices as an nducement 10
secure business: when 1t is question.
however of the mills securing orders
or shutting down and thus impalrlng
their organizations as going concerns
the smaller mills have almost uncon-
trollable inducement to use every
agency in their power to keep running
Their most effective agency Is. thar OF
selling equal goods at cheaper prices
than their competitors.
The larger concerns stand the uneven
competition as long as possible, WIN
the hope of holding out until improve
ment sets in. Then they jump In ana
name prices sufficiently low to restore
to themselves their previous domlnat-
ing share of the business. the current
iron and steel situation is therefore
merely repeating previous experiences.
The investigation by the committee OF
the House of Representatives. INTO Ine
affairs and methods of the steer COT
poration is not unlikely to become the
source of some unsettlement among
holders of Steel company securities. l
understand that the committee VIII par
ffcularlv direct its investigation INTO
the ACQUISITION of the Tennessee Coai
and Iron Company during the financial
upheayal of 1910. This act, while one OF
the financial necessities OF the tunes, Is
by some considered one OF the most Nui-
nerable features Of the steer corpora
tion's otherwise strong organization.
AS already noted, the outlook for the
immediate future suggests favorable
market for traders, market OF oppor-
tunities to take advantage or frequent
profits of moderate proportions.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
lLESSENING VOLUME OF. BUSINESS
BROUGHT ABOUT BY MANY CAUSES
Considered All Of
Supreme Court Decision Stock
Advanced Share Last Week-Oher News.
By JOHN GRANT DATER.
inanciaI Renresentat the Munsey Pnblicntions.

this has raised in the mind of many
bankers doubt as to the actual con-
dition of the bond and investment
market. 1t Is really not surprising
that very many persons have been
skeptical over reports of an increas-
ingly active investment demand for
bonds netting from to Az per cent.
when, at the same time, corporation
after corporation was selling notes
upon a 51h to 6 per cent interest
basis, for an, investor is not likely
to content himself with to Az per
cent II he can secure 3 " to per cent
for the temporary use OF his money,
and make his permanent investments
later on.
Without doubt investors desire a lars,
er return on their capital now than ir
the past, and the entire question In.
volVed in the recent heavy sales oil
notes Is wrapped up in determination
OF the question of the rate an investor
will accept for his money. Corporation
managers doubtless sold notes hereto
fore, because even with low time rates
for money investors would not pay {
high enough price for bonds to render
extensive permanent financing economi
cal That is, the corporations would
have to sell new bonds at very low
price in order to market them. It !:
possible that the successful sale OF th'
Oregon Washington bonds. upon abou
a 40 per cent basis, marks turning
point in this situation, and if so it Is
very important and may result in In
ducing other corporations to hnanc,
permanently for purposes IN which sounC
finance requires permaneEcy instead o.
in the risky manner of short term Dor
rowing.
Business and Money.
AS to general business, the lead
ing trade authorities report an improve
ment In sentiment, which is more mani
fest in the East than in the west, anC
some betterment in products for which
there is a seasonable demand, but actua
progress in the country's great indus
tries is admittedly very slight. and prac
ticaIIy all manufacturing plants are op
Grating we'll under their productive ca
pacity. Crop prospects continue to in
prove, and this fact constitutes tE(
strongest basis for the future In a grad
ual expansion of industrial activity al
the year advances.
In the meanwhile it is noted that the
banks everywhere keep on accommodating
cash reserves, which Is a great sustain
ing force in the security market ant
4 matter which will be heard from IL
a definite and decided manner at soIE'
future time IN an expanding and i'm
provement in investment demand. NJ
change was noted in money rates dur
ing the week, and no very pronounce
change is to be expected. The banl
statement of the day reflected an in
crease OF ST., 400 in the surplus reserve
in the average report ard decreas'
OF 2,S47, 80 in the actual The sur
MUS reserve now stands at $46, 3469 81
above requirements, in consequence o
which Wall Street pays little attention
to the money market or the bank state
ment, for all conditions assure continued
ease.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
IN LOCAL FINANCIAL CIRCLES
By I. A. FLEMING.

abandoned. The proposed Federal Ma
tionaI was, called off just about tha
time 1t was to have been launched.
Then the almost-launched Mercantile
National with the ways creased. ana
the application for a charter ready for
filing, failed in the final moment, ana
the effort may not be renewed,
With the latter IL was not the mat
ter of raising the necessary money 30
much as the finding of the right man
to head the institution. With the pres
ent serious competition for deposits III
Washington, a president was needed
who would at once command respect
and confidence, and have large foi-
lowing and acquaintance.
Even a president was selected, the
money subscribed and everything ready
for the launching, when the president
to-be withdrew.
Not discouraged by the refusal of
John Mitchell, tr., the promoters con-
tinued the search. ]. Miller Kenyon
was considered. Then ex-senator Scott,
The latter thought over the proposition
seriously, and for a time II looked as
IL he might accept, but the undertaking
of a comparatively new line of business
did not appeal to his maturer thought
Former Comptroller William Barrett
Ridgely was in Washington about thae
time, and an effort was made to enlist
his services. Mr.. Ridgely has fond
ness for Washington life, is well enough
known to have filled the bill as to thai
requirement, has the necessary expe-
renee, and an influential following. He
considered the matter from all phases,
and finally refused.
The wonderful persistence and hope
fulness of the promoters did not END
there but II came near II, and II Is
now believed that the matter Of the
Mercantile has practically been closed:
Some Of the leading business men OF
the city were interested; quarters had
been engaged, and the capital pract-
cany subscribed.
1t split on the presidential rock.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
BALTIMORE & OHIOR. R.
LEAVE UNION STATION
ROYAL BLUE LINE


Every Other Hour on the Odd Hour"
To PHILADELPHIA AND NEW YORK
NEW YORK TERMINAL. LIBERTY ST.
AND W. 23D STREET.
TOO, 1900 Royal Special, hours). 1900
CRoyai specially. '11:o0 a m, 100, '3:OO.
md .Ia:I5 night, Sc a. m. Diners and PrIor
Cars on day trains Sleepers on LIS night.
't Phiiadelphia and Atlantic City. F7:OQ. .s:oo.
oil 100 a. m. 100, 900, 1900 p. NJ.
TO BALTIMORE.
EVERY HOUR ON THE HOUR"
week days, 100 s. m. to 1000 D. nj
.25S rs co. 1880 100. '7:20. $500. $50 'e:Oa
fS:29. 1000, 'u:00 a. m, 1900 noon, t12:05,
.i:0O tl:l5, f2:00. 300, 1920. $780, t4:00.
+16 Is 90 rs O0 $3.50. 1900, $3.50, 100, $500
ts:o0. 1000, 'IO:4o, '1i:SO. 'i2:15 n. T.
WESTWARD.
CHICAGO, $40 a. m, '1:25. $3.50 D. H.
C1NCINNATI, ST. LOUIS. and Louis
VILE, 1910 a m. '4:lo p. m. 'I2:10 night.
PTTTSBURG, 1910 a. m. '1:25, 1910 .. m.
.13.I0 nigtr sleeper ready, 10 p.
CIEVELAND. 1910 y. m; Columbus. $50
p'WEEELING, .s:Io a. m. $3.50 D. m
ScbeduIes OF local trains at ticket offices
sDaiIy. Except Sunday. tSunday only.
TeIephones at following Ticket Offices: Ia;
q st n W.. Main 1881; e19 Pennsylvania
Ave. Main 27s: Union Station. Main 1850
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28

stock. So 1t is not surprising that the
stock should have moved up even IN the
face of a growing belief OF an adverse
decision.
1t is feared in some quarters, however,
that If American Tobacco should resume
its rapid upward movement as a direct
result of an adverse decision or the su-
premc Court, that the outcome might pc
unfortunate, Probably TINS idea grows
out of Justice Harlans minority opin-
ion in the Standard Oil case, which was
read with a great deal of interest and
exerted considerable influence In certain
quarters, despite the overwhelming ma
jorlty opinion, which is the law OF the
land. 1t is, of course, recognized that
in the lower courts, in cases arising I'M
der the Sherman Antitrust act, the
light of reason" Interpretation VIII
play an important part, but 1t is sug.
gested that any undue enthusiasm OF
speculative Wall Street over the trust
cases is calculated to invite hostile legts-
lation and result. probably, In an enort
to put the teeth and claws back into the
Sherman act.
New Bonds at Last.
In conservative old-time banking quar-
tiers a great deal of satisfaction is ex-
pressed over the highly satisfactory
outcome of the early offering by Kuhn,
Loeb & Co. OF $25, 100000 of new Oregon
Washington Railroad and Navigation 4
per cent ffty-year bonds. The simultan-
eous offering in this country and IN
London at SO brought, according TO all
accounts, a heavy oversubscription and
an active demand is reported on the
curb in the new bonds at an advance OF
over the issue price. The issue is guar
anteed by the Union Pacific and the pro-
ceeds will reimburse the treasury of
that road, but the chief source Of salts
faction over the success of the subscrip-
ton arises from the fact that it throws
some, light on the question of the cost
to a corporation of permanent financing,
and demonstrates the ability OF rail-
road to sell new bonds instead OF short
term notes.
As already pointed out there has
been a steadily Increasing dislike, in
conservative banking quarters, to the
rapidly multiplying short term note
issues, and the novel purposes for
which notes have been issued in re-
cent months. 1t is notorious that
bankers and corporations have re-
sorted to temporary financing, paying
5h and per cent for their money, In
the most relaxed money market in
years, for purposes with which note
issues were never associated in the
past. such as to assist in the reorganl-
zation OF an insolvent railway; as
means of acquiring additional prop
erty by a corporation, and as feature
of a combination of elevated railway
properties in Chicago, which are un-
dertakings of a permanent character
and practically always. in the past
have been arranged through perma-
nent financing.
Difference in Financing.
Quite naturally 1t has perplexed in
vestors TO see property after property
coming out with short term notes
carrying high rates in a 3Iz per cent
time money market. and of course
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
Boston Harbor to Have
Gigantic Tide Dials

BOSTON, May 8.-Tide indicators in
lower Boston harbor. which will regis
ter on a dial large enough to be read
three miles away will be installed by
the Government
Yesterday Capt. John F. Pratt. a rep
resentative of the United States Coast
and Geodetic Survey, came here from
WASHINGTON to look into the matter.
He visited various points in the harbor in
order to decide on the location. He will
make another trip tomorrow. 1t has
been suggested that the best places for
the registers are at the entrance to
Broad Sound. and at the entrance to
the main ship channel.
Tide tables cannot be relied upon alb
solutely, and weather conditions have
a considerable effect on the rise and
fall, which are responsible for the in
noyation
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
Customs Stamps to Go
On Bottoms of Suit Cases

The stamps of customs collectors
will be placed on the bottom of grips
and travelling bags for a few days at
least. shortly 1t will be determined
whether or not this concession to the
convenience and love of cleanliness of
travellers will be made permanent.
Heretofore the stamps have been
placed across the tops of bags. Com
plant was brought by five Senators
to the Treasury Department that the
practice prevents women from getting
tooth brushes, even. from their grips
while crossing the Canadian border.
Assistant Secretary Curtis of the
Treasury Department, who has
charge of such matters, will be called
upon to rue on the complaint as soon
as he returns to Washington.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
SOUTHERN RAILWAY.

n B.-FollowIng schedule fgure0 published
.nIy as information. and not guaranteed:
For Atlanta, Birmingham. Mobile, New
Orleans Asheville. 900 a. m. and 1918 D. m.
daily; -" 6inin9 cars anu
FOR Roanoke. Knoxville, Chattanooga.
Birmingham, New Orleans. 1910 D. m. daily.
For Roanoke, Knoxville. Chattanooga. Mem
phts. Nashville. 4I0 a. m daily. sleeping
SSar opea after 10 D. m Dining cars.
For Charlotte, Spartansburs- Atlanta, An
niston. Birmingham. AIS D. IN. daily. Dining
Tourist cars for California Monday, Wed
nesday. Thursday. Friday, Saturday. AIS
SFor Greensboro, Durhfm. Raleigh, Char
latte Columbia, Charleston, Aiken, Augusta
SSvannah Jacksonville. and Florida points,
so D m. daily. Dining cars.
Local for Harrisonburg. $50 a. m. daily.
R.H % m. and 4:30 p. IN. week days; for
SSsnviile 1880 a M. daily and for CharIottes-
Vile. 7:SO a. m. and 40 p. m daily; for
Warrenton. I:30 p. NJ daily and as p. m
-sat DAYS. Frequent trains to and from
Rinemont. L S. BROWN. General Agent
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
CHEsAPEAKE q OHIO LINES.

Published as Information, not guaranteed
400 % m daily-C. & o. SPECIAL. sofia
vain TO Cincinnati. with Pullman sleepers
=. louisville, Cincinnati indianapolis 81
louis, and Chicago. c. & o. Dining car.
ii:io D. m. daily-F. F. v. LIMITED. to
the west Southwest, and Northwest Pull
man sleepers to Virginia Hot Springs, CIncin-
nd and Louisville. Cincinnati sleeper epsn
for occupancy 10 .: m c. & Q; dining caf:
Ticket Offices, 5l3 Pa. ave-, 1888 z St, Anl
union Station Phone Main 1866 22Os. and INA
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
sEARoARD AIR LINE RY.

io.o5 g. m. daily-"Seaboard Fast Mall
Through coaches and Pullman sleepers TO
Saxsn5ah and Jacksonville. ParlOr car Jack.
sonyiIle to Tampa Through sleeper to At
Ianta Dining car.
s:35 p. m. ida-Cuoa Special
Savannah, Jacksonville, Tampa. ST. Angus
tire and Knights Key (for Havana). Through
coaches to jacksonville.
S:I5 o. m daily-"Atlanta-B Birmingham Sps-
eial." Through Pullman steel electric. lighted
sieepers and observation car to Atlanta
RirminghaIn, and Memphis. Through coacheS
10 birmingham. Dining car.
Ticket Office. 1lS New York ave n. ".
E A. HARDWOOD. c. T. A.
q. 2. PHILLIPS, D. P. A.
- a RYAN G. p. A, Portsmouth Va
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
THE STOCK MARKET OF THE WEEK

closing
to da
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
The Weeks Stock Trading

change during the week have been as
follows, compared with one year a asg,o
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28

This Time Table Shows the time at
which trains may be expected to leave
stations named, but their departure
at the time designated is not guar
anteed, nor does the Company hold
itself responsible for any delay or any
consequences arising therefrom.
PAUL Y. WATERS,
General Manager.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
RAILROADS
Chesapeake Beach Railway.
Schedule of Excursion Trains
To and From
CHESAPEAKE BEACH.
WEEK DAYS

EFFECTIVE MAY q, 1911.
to change without notice.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28

Just at present the banking field of
Washington seems to be filled to about
the maximum. The merger Of the Ma.
tional City Bank with the Commercial
National is about the only merger that
has not been followed with the starting
of another fiscal institution.
Recent attempts to get a national
bank under way have practically been
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28
Curb Prices for the Week.
FINANCIAL

And interest.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28

in the camps of the two local gas
corporations, the Washington and
Georgetown corporations. The cut of
a million in the proposed bond issue,
and the guaranteeing of the issue by
the parent. company, which will soon
err or later be absorbed by the small
er concern with the valuable charter
is the result. The ratification party will
be held June 8.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-05-28

*EX-dividend. ooo-o
Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1911-08-10
Modale liens

H. M. Silsby returned from a
four weeks trip through the
west, Saturday evening.
Mr.. and Mrs S Lightell and
daug hler, Elite left Thursday
for a three weeks visit in
Fredericksburg, Iowa.
Mr.. and Mrs. Frank Ham
mer came up from Omaha,
Wednesday evening.
The Mo. Valley Boosters
stormed our town Tuesday
morning. They distributed
chautauqua literature.
Mrs. Joseph Oliphant left for
her home in Des Moines,
Wednesday afternoon, after a
short visit with her niece, Mrs.
Frank Sharpnack. Mrs. S. M.
Oliphant, who has been the
guest of her daughter here for
the past two months accompa-
MED her for a months visit in
the capital city.
Mrs. R. s. Sassaman and her
sister, Miss Lou Quist of Rapid
City, S. D., were Omaha visit
ors Monday and Tuesday.
Lynden Stafford was in Mo.
Valley, Thursday afternoon.
Mr.. and Mrs. H. M. Silsby
and Mrs. G. H. Mcintosh were
Valley visitors Wednesday af-
ternoon.
The M. E. Ladies' Aid clear
ed 500 at their supper last Sat-
urday evening.
Mrs. Dollie Blu rgess, of Coun-
Gil Bluffs spent Sunday here,
the guest of her parents.
w. M. Sharpnack, who has
been confined to his room by
illness is able to be out again.
Mrs. Frank Becker and Mrs.
Frank Hammer we're Mo. VAL
ley passengers Thursday after.
noon.
The Sperlin Sisters moved
down from Mondamin, Tues
day. and will open dressmaking
parlors in a short time.
Mrs. Ida Meyer, Of Tabor, Ia,
arrived Thursday for a visit
with old friends.
Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1911-08-10

Kit Yeager lost a valuable
mule last night by having it
tangled up inthe electric light
wire running to Blair. 1t
seems one of the wires had
slipped off the pole and was
hanging loose and Mr.. Yeager
attempted to go under it. Just
as the mule got underneath, he
threw up his head and had
gone to the happy hunting
ground in less time than it
takes to tell it.
Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1911-08-10
Explanation

There seems to be a slight
misunderstanding concerning
the decorations upon our
streets. 1t is reported that the
Improvement League is re-
sponsible for them. Such is not
the case. The materials were
purchased and a notice was
placed in the paper to all ladies
of Missouri Valley to meet and
help make them. This was not
done by order of the League.
Missouri Valley Improvement
League.
Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1911-08-10

Otis Connect had an exciting
time for a few minutes this
morning, when an automobile
frightened his team and backed
the load of hay they were
hitched to, into the ditch,
throwing Mr.. Connect to the
ground and breaking several
parts of the wagon.
Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1911-08-10

There seems to be a misun-
Outstanding in some localities
as to the rights of the farmers
to the ditch banks. One of the
Pottawattamie supervisors in
formed us yesterday that he
wished the farmers would seed
down the banks of the bitches
as it helps hold them and they
present a more slightly appear
ance. The only thing they
want is to keep trees from
growing on the banks.
Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1911-08-10
Hay Fever, Asthma and Sum-
mer Colds

Must be relieved quickly and Foley's
Honey and Tar Compound will do it.
E. M Stewart, 1924 Wolfram St., Chi
cago, writes: II have been greatly
troubled during the hot summer
months with Hay Fever and find that
by using Foley's Honey and Tar Com
pound get great relief" Many others
who suffer similarly will be glad to
benefit by Mr.. Stewards experience.
AL R. w. Harvey
Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1911-08-10

More people. men and women, are
suffering from kidney and bladder trou-
BILE than ever before. and each year
more of them turn for quick relief and
permanent benefit tn Foley's Kidney
Remedy, which has proven itself to be
one of the most effective remedies for
kidney and bladder ailments that med
ical science has devised.
AL r. w. Harvey
Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1911-08-10
Edison on Motion Pictures

No one has ever charged
Thomas Edison with being a
cheap panderer to the vicious
tastes of q debased society.
Rather he has be m always a
friend and uplift, { VI ne race,
and it is by Mr.. Ed,s,n that
such words as these are writ
ten: "Moving pictures bring
to everyone an absolutely clear
idea of foreign peoples thru ugh
their customs and through
scenes Of the world and through
the industries and pursuits of
man. They have a tremend-
Gus educational effect. This is
true even of the seemingly
purely amusement moving pict-
ures. Little cross.sections of
life are shown, staged and act
ed better than are the cheap
shows given at considerably
higher prices. The motion
picture is an important factor
in the worlds intellectual de-
velopment, 1t will have a
great uplifting effect ON the
morality of mankind. it will
wipe out various preiudices
which are often ignorance. 1t
will create a feeling of sym.
pathy and a desire to uplift the
down trodden peoples of earth.
It will give new ideals to be
followed. For these reasons /
believe that moving pictures
present the right means in the
hands of broad.minded, intel
lectual and informed workers
for the worlds good, for the
'nnocept amusement efficient
instruction and the moral ad-
vance Of the great masses of
people"
Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1911-08-10

Last evening quite a number
of the ladies of the Christian
Church Aid Society, surprised
Mrs Hansen, on 9TH street and
presented her q beautiful pic
ture, as a small token of their
appreciation of her good work
in the church. They move to
Fremont, Nebraska soon.