davidaulloa/AmericanStories huggingface dataset:
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Open Market Provided
For Exchange Bills.

Under this power there Is an open
market provided for handling bills of
exchange and making available for
American use, or establish foreign
market for such bills of exchange, and
obtaining money at q low rate OF in
terest
Under Section Ii, any Federal re-
serve bank
Upon the Endorsement OF any
member bank - may discount
notes and bills of exchange aris-
ing out of commercial transac-
tions-that Is, notes or bills of
exchange issued or drawn for ag-
ricultural industrial or CONNER
Cial purposes, or the proceeds OF
which have been used or may be
used for such purposes, the Fed
eral Reserve Board to determine
or define the character of such
paper This paper must be OF
short fixed maturity--not more
than 90 days"
II In obvious that there Is no limita-
ton upon this discount power. eX-
Cept that the reserve bank must keeT
1918 per cent gold or legal tender
against its demand liabilities
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Bankers to Refuse
Money to Mexico
!. p. Morgan and Others Say Neu-
trslity Edict Prohibits Finan-
cial Aid to Either Side.

NEW YORK. Sept 20-American
bankers have decided to stop lending
money 70 Mexico.
J p. Morgan said:
Tn view Of the neutrality edict OF
this Government which prevents the
sending of munitions and arms to
Mexico. ] would most certainly re-
gard the loaning OF money to Mexico
as prohibited
IF the sending of arms and NUM-
lions OF war is cut off, the sending
Of money most naturally must be, he
cause It is the greatest war NUM-
ton"
These views We're echoed by other
leading bankers.
Wall street heard Senior Zamacona,
"conddential agent" Of President
Hurrta. was i'm town TO negotiate a
Mexican loan, but investigation failed
10 show he had visited any of the
leading banking houses.
Considerable significance was at
tached 20 the statement made by Mr..
sforEan. in view of the fact that his
1lrm and Kuhn. Loeb 4 Co partiCi-
pated with European bankers in the
s8UgJ0ouy loan recently made to
Mexico
The attitude taken by American
bankers win now force the Mexican
Government 10 seek financial assist
aUua 100 Europe
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
MEATS COSTLY
ELSEWHERE AS
WELL AS HERE
Whitcomb Company Tells How the
Packers Are Importing Beef
From Across Equator.

Part. al least Of the high cost Of
living is not due TO causes in any way
peculiar to Atlanta, but to conditions
which are of national and even in
ternational scope" remarked w NJ.
Burke, of the H. II. Whitcomb 4
Burke Co., grocery brokers, No. 149
Madison avenue.
1T may be true that meat prices
in Atlanta are higher than in any
other city except Boston, as the Gov
eminent report indicates I do not
know the answer to that. But meat
prices, all the way from Bangor t.
Seattle and between, are too high. The
reason is scarcity of cattle.
Take Libby, MCNEIL & Libby as
examples The firm is unable 20
make full deliveries Of it's canned
products just now, simply because it
can not get the raw materials in suf-
flcient volume. other ackers are in
the same plight.
The shortage is so acute that ii
now is profitable to import fresh beef
by's now are bringing large quaint
ties from South America.
Between 100000 and 100000
pounds of fresh beef, practically all
from Australia and Argentina, en-
tered the United States in the last
three months, indicating that he To-
tai for this fiscal year will exceed
S,0OO,O 600 pounds.
Prior to 1912 the importations Of
fresh beef averaged about one-third
of a million pounds per snnum.
THE import prices range from ap-
proximately cents to 10 cents per
pound, the average having been from
Australia SO cents per pound, from
England 96 cents per pound. These
are the figures Of value in the coun-
try from which the beef is sent to the
United States, and do not include the
cost of transportation or the tariff Of
IL cents per pound
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Federal Sugar Go,
Faces Publicity
Spreckels Must Disclose Financial
Situation of Concern or Have
Stock Wiped OF List.

NEW YORK, Sept 20.-Claus A.
Spreckels' Federal Sugar Refining
Company securities will be stricken
from the New York Stock Exchange
If the company does not file with that
institution an annual income state
ment and balance sheet. long overdue.
This violates one Of the agreements
entered into with the Exchange when
the stock was listed in May. 1910.
SpreCkels. il is understood. promised
on April Is to publish an annual re
port The company distributed 70
shareholders what purported to be the
yearly report, but il did not contain
the statements desired by the En-
change.
Mr.. Spreckels finally said he would
like to have the SS.S22.S0O preferred
and $6.67T,20O common shares remoN-
ed from the list.
As the sudden removal Of the shares
from quotation might result in tinan-
Cial injury to stockholders who had
purchased them because they were
listed. and a. protect people who might
have some Of the shares up as Collat-
eral for loans, the Listing Committee
refused 70 throw them off, despite the
statement by the Federal that % per
cent Of the shareholders We're in favor
Of such action.
When the stockholders hold their
annual meeting they viii be asked To
vote upon the question
Stock Of the Goldfeld Consolidated
Mines Company was stricken from
the Stock Exchange list last June for
refusing to comply with the publicity
rules That was the first time such
action was taken.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
American Cotton Oil
To Resume Dividends
Latest Estimates Show Earnings of
4 to 5 Per Cent Applicable
to the Common.

NEW YORK, Sept. 20.-The under
standing that the management Of the
American Cotton Oil Company this
year is disposed to pay to the common
stockholders whatever dividend may
have been earned, and the fact that
the latest estimates showed earnings
applicable TO the common Of between
4 and per cent, has caused cheerful
expectancy on the part of persons
with whom the stock was a favorite
previous to the last two non dividend
paying years.
The best information obtainable is
that the situation has not altered Of
late except that the high price Of corn.
operating toward higher costs otllard,
works in favor of the cotton oil pro-
duCers. The new season has opened
favoTablv as was the case last year,
but the early promise a year ago was
not sustained and competition for cot
ton seed forced the price to prohibit
tive figures. This year, however, as in
other years, the important fact to be
determined IL the price of cotton seed,
together with the output.
Action on this years dividend on
American Cotton Oil will not come up
until early in November.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Atlanta to Front in
Boston A. B. A. Meet
Bids for 1914 Convention, and Has
Member of Currency Commits
sion in Delegation.

Unless President Wilson succeeds
in making the Senate move much
more rapidly than il has shown any
signs Of doing, currency reform will
still be an open question when the
American Bankers Association holds
its annual convention in Boston begin
ming October 6. This means that the
discussion of the Owen Glass bill
which has heretofore been confined to
committees and conferences, Will
come before the entire membership
for the first time and will overshadow
other questions before the association
Joseph McCord of Atlanta, will
take prominent part In the discus
sion, as he is a member of the cur
rency commission. Atlanta will send
strong delegation, as ii is bidding
for the next convention.
The program for the convention has
just been announced by the secretary,
Colonel Fred +. Farnsworth, who was
in Atlanta last week, and at the open
ing session of the convention October
S, following two days of committee
and section meetings, A. Barton Hep
burn win present the report of the
currency commission, Of which he is
chairman. A general discussion will
ensue, led by members of the COM
mission.
Another important matter that is to
come before the convention is gen.
eral revision Of the associations con-
stitutOn, on which a committee has
been at work.
Joseph Chapman. vice president Of
the Northwestern National Bank Of
Minneapolis, will report for the com
mittee on agricultural development
and education. Among other speak
ers, James J. Hill will deliver an ad-
dress on agriculture in the United
States" and DIR. George f. Vincent,
president Of the University of Min
nesota win follow with an address on
The Tendency Toward Practical Ed
uCation."
William J. Burns Of the William J.
Burns National Detective Agency, viii
address the savings bank section. In
the clearing house section Carl Mey-
er Of Chicago, will read a paper on
The Incorporation of Clearing
Houses" An address on Extension
Of Clearing House Examinations" be-
fore the same section is also sched-
uled. but the speaker is still to be
announced
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
How Note Retirement
Is Expected to Work.

When these notes are paid they
VIII be paid at the counter of the
member bank, and will be sent there
for collection, and when the returns
are RENTED and the reserve bank
paid, the member bank will be
credited with the returns on the loan
previously made the member bank.
ana the reserve bank will repay
TO the Federal reserve agent the
Treasury notes previously borrowed
on such paper. The Treasury notes
thus retire from circulation.
Doubtless In ordinary practice as
the member bank would draw down
certain notes for collection and pav-
ment II would substitute other notes
OF like character in lieu of the notes
maturing, and In this way always
Keep an adequate margin and accent
ances OF qualified class as security
In the hands Of the reserve bank. and
the reserve bank i'm like manner
would keep a like adequate security
in the hands Of the Federal reserve
agent just as is now done in the com
mon banking practice wher note
about TO be paid is replaced by an
other note of Ike or greater value,
If the Federal reserve bank de-
sired, IL could sell these notes with
out Endorsement to banks having
idle money, and in this way market
would be built up for commercial
paper which would he Of the great
est value In enabling the manufac-
tuTers, merchants and business men
of the country to market their
credits upon the Endorsement OF
their home bank. In this way &C
commodation could be furnished to
farmers against agricultural prod
ucts. to manufacturers against manu-
featured products, to wholesalers and
brokers against merchandise in tran
sit, and the rate OF discount in all
Of these cases would be fixed by the
Erndnrnl Rnnnrrrn pa "a
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Government Provided With Ample
Safeguards Against Loss by the
Failure of Borrowers or Banks.
Market for Short-Term Notes.
By ROBERT L. OWEN.
lSenatnr From Oklahomal

The Federal reserve banks
lSec. 49, are given the power
to deal in gold coin and bullion,
both at home and abroad, to
make loans thereon, and TO con
tract for loans of gold coin and
bullion, giving therefore when
necessary acceptable security, in
Guiding the hypothecation Of
United States bonds. "
The obvious purpose Of this IL to
enable these banks to protect the gold
reserve OF the country. But they have
the further power
TO invest in United States bonds
and bonds issued by any state,
county, district or municipality"
and obviously with these securities
they could also obtain gold to pro-
teCt tho gold reserve OF the nation
and Of their own banks,
But they are further given power
"to purchase from member banks
and to sell, with or without it's
Endorsement, bills OF exchange
arising out of commercial trans
actions as hereinbefore defined
payable in foreign countries (this
ought to include domestic ex-
changes also), but such bills Of
exchange must have not exceed
ing 80 days to run and must bear
the signature of two or more re-
sponslble parties, OF which the
last shall be that Of a member
bank"
II Is obvious from this power that a
market is Immediately created for
foreign bills OF exchange land II ought
TO include domestic bills as welD
And II has further power
"to open and maintain banking
accounts in foreign countries and
establish agencies in such Coun-
tries wheresoeyer il may deem
best for the purpose OF purchas-
ing, selling and collecting for
eign" ct should be or dOmestiC)
bills Of exchange and to buy and
sell through such correspondents
or agencies prime foreign bills OF
exchange arising out Of CONNER
cial transactions which have not
exceeding 90 days to run and
which bear the signatures OF two
or more reSDOnsible parties"
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
PUBLIC IS BEING
ATTRACTED To
COTTON MARKET.
Lack of Leaders Only Prevents
Lively Bull Campaign-Fancy
Spots at Sixteen Cents.

NEW ORLEANS. Sept 20--Tho
rains r...rrI. ..rorted I'm the western
H..r. which .aH.p. a declining tn
Dau.E .n rha market last week. now
HaN. turned uaf fu He huIiish arEu-
maur .a 'h. continued precipitation
has =. HH'Hd Iu considerable damage
fn Ir. uu.u cotton IN that section
Reports ut cotton sprDuting in inc
boil as result of continued and *
,--siyc W.IstuT. are coming In from
Texas aud DkI thJma. so that - would
seem the injury done TO the crop b.
the 9r0ufh is being comDlaItG by ;le
prolonged spell OF wet waa ther
Liverpool had been rather indjfer-
Ont tu the reports Of damage by rains,
Lul was I9umIug this week. and ca
hfe. received from leading Liverpool
houses stated that the advance on
that side had been caused by uufa-
vorIble crop news from Texas and
Arkansas Speculative buying on a
large scale was reported to be "A fea-
turc uf the trading In the English
market. and iu this market also spec
uIItiyo buying recently has been Of
larger proportions than for many
months past
Were it not for the uncertainty re-
Ea-dIng the outcome Of the anti-op-
ton legislation now pending in Wash
1ugt1u bull campaign Of the first
magnitude would undoubtedly be On
in New orleans and New York; as II
u.s. leading long interests are afraid to
commit themselves too heavily on tho
hull side. fearing a body blow to the
market from Washington.
Scalp the Market.
TonScUuDutIg the bulls with q sit
u3tion which points 10 a much higher
T.. s. aid IfH ter n no n
have simply been scalpiug the mar
kct on the long side, being content
TO buy on declines and sell on mod
crate advances.
The outside public, however, is be-
ginning 20 uihhle ut the market In n
way that suggests an outburst Of
speculation ON the long side If the
bun leaders would only pass the word
along 80 get into the came good and
strong News from Washington re-
Gently has been distinctly favorabls
I'm regard TO the prospect OF the Clarke
bin being amended in coufercn cs
committee $50 as 10 ieEaliZe future
trading ass conducted under the rules
and regulations Of the New orleans
Cotton Exchange. Definite action by
the conference committee, putting the
uuIttus ON the Clarke bin In its pres
eut form. would be the signal for the
inauguration of a bun campaign IN
the cotton market
w. p. Brown, one Of the bull lead
ors uf this market rs in New York,
where he is reported 30 have made big
money uV the bun side Should he
and Hayuo return To this city in the
near future. with the large following
that they have throughout the South.
u repetition uf the speculation that
took place on the bun side in the Sully
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
NeuOs of Finance, Industry, Crops and Commerce
Battle Raging for
Financial Throne

All unknown to the public a
battle is raging for the financial
throne vacated by the late J. p.
Morgan.
His firm has had the worst Of
the first skirnnishes.
The most powerful rivals have
greatly strengthened their hold
upon Americas railroads, whereas
the Morgan grip has weakened.
Following the scuttIing of New
Haven, Morgan & Co. may seek to
stand from under New York Gen.
trail. It's finances are becoming
oninously unhealthy.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Senator Owen Explains Currency
+'+ set +'+ *.+ +.+ *'+
How Banks VIII Handle Paper
*.+
Federal Reserve Assures Safety
Author Of the Measure
Clears Obscure Points.

Just how banks will go about
their dealings with the new Fed
eral reGerve banks is a question
of keen interest 10 bankers and
also to the mercantile commU-
nifty.
The handling Of commercial pa
per under the Owen Glass cur
rency bill is a point on which en-
Iishtenment has been sought re.
peatedIy.
Senator Owen, vino was bank
er, and who Is Chairman Of tho
Senate Committee on Banking ard
Currency, has, on the invitation Of
The Sunday American, prepared
careful explanation.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Uniform Freight Car
For All Roads Urged
Santa Re Head FaVors Equipment
Company Owned by Lines, Civ.
ing impartial Prices.

A uniform standard OF freight car
construction for all railroads in the
United States is suggested in a let
ter written by f. p. Ripley president
Of the Atchison, Topeka and Santa
Fe Railroad. to w. f Magray. pub
Usher Of the OFFICIAL Railway List.
Mr.. Ripley says another railroad
man purchased cars for 5000 each
while Mr. Ripley paid 81. 400 He
says the other man admitted the cars
Of cheap construction might endan-
ger trains of other roads. but that he
would get the better of the deal
whenever he secured the use of a
good car for cheap one.
Mr.. Ripley suggests the establish
ment of freight car equipment
company, its stock TO be owned by
the railroads
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
REMINGTON TYPEWRITER CO..
AGAIN PAYS ON COMMON

NEW YORK. Sept. 20-The Rem
mgton Typewriter Company has de-
clared a dividend of 1 per cent on its
common stock, payable out Of earn
ings for the first six months of the
year This is the first dividend de-
clared on the issue since 1907. The
regular quarterly dividends of ga
per cent on the first preferred and
per cent on the second preferred
stocks also were declared. All three
dividends are payable october l to
holders Of record September Ia.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
SEEN IN THE SHOPS.

Separate coats Tor wOmen's faIl
wear show yoke effects at the Shout
ders. have straight plaits and are
belted at the waist. They are fas-
tened at one side or in front.
Nenise edgings of the more spidery
sort are to be employed in various
ways in the fall toilets.
Beaded trimmings, combining also
silk and metallic effects on black net
are among the strongest items in the
accessory field for the coming sea-
son.
Evening wraps in silhouette effects
have all the fullness between the
shoulders and knees. The featured
materials for them are Of the soft
finished variety.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21

eral security for loans extended to the
member bank. They would be put in
the collection portfolio OF the reserve
bank. II the reserve bank wanted to
get Treasury notes on these bills Of
exchange and acCeptances, 1t would
place them in the custody, or under
the control Of the Federal reserve
agent located in the Office Of the re-
serve bank, and he would pay the re-
serve bank Treasury notes in ex-
change for a like volume Of these
commercial bills OF exchange and ac-
ceptances which he. OF course, would
pass on
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Southwestern Crops
Damaged by Drouth
Schaff, OF M. K. & T, Glad il Road
Breaks Even With Last Year.
Rate Cuts Costly.

NEW YORK. Sept 20.-C. r. Schaff,
president OF the NJ. X x T.. said
homa and some parts OF Texas is bad
ly burned up. In Texas the final yield
of corn will Approximate only $3.50
900 bushels, the same as last year"
Rate reductions Will entail loss Of
about sT5OOo0 10 the Katy" accord
ing to Mr.. SchaT, who says he win be
well satisfied II results break even
with last year
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21

There will be plenty of fun on the mid
WAY" for some of the best shows in the bust
ness have been secured for this great event.
There will be the very best of the profession
on the MIDWAY" and each and every show
will be Clean and Moral
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
GIVE PRICES FREE

Business men OF Terrell, one Of the
earliest cotton counties of Texas. are
operating cotton exchange to fur
nlsh current quotations free,
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
NEW OIL MILLS.

owing To the good demand for cot
ton oil products i'm the past year,
many new mills Of small capital are
being built in the Middle Gull and
SouthW Rstern States
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21

There will be more AGRICULTURAL Elk
HIBITS than were ever at the State Fair be-
fore. Each County is trying to Guido the 9TH
er, and the exhibits will be regular exposi-
ton of agricultural resources.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Nav GOLD FIND CONFIRMED.

Mr. George Black Canadian com
missioner OF the Yukon has wired
to the Government confirmation Of
the reported discovery Of gold In
AlssksRclose to the Canadian bound
RrA
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21

The Manufacturers Building will be COM
plete with many fine exhibits of Manufac-
tured goods. Some of the displays will cost
hundreds of dollars. This part Of the State
Fair should not be neglected. Show the Bows
and Girls of Georgia what we make.
Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1913-05-01

Ii -
n National Crop Impr ovement Service, n
One of the imp ortant actors in in
sreasing the yield ii to obtain q good
stand u Let us no tice for a moment
he possibility of Y perfect stand q
ss;SS Hills per acre, three feet Eight
inches apart, g. g. a. lis
Number of stall Ks, three stalks per
Slill 8, 7223.
Z One pound ear to- the stalk, 9723
Spound OF 143 bushels per acre
Efres-f ourth-po und ear to the stalk
~ pound y; 81 4 bushels per acre
One ha II pound ear To the stalk WIZ N. !.
pounds or5 u IA ia bush els per acre
sS# by Isl III that we fail IL obtain q
Estsod stand B Some of the reasons for
failure ma \ be due sto the eglect Of
CLOWN g is 81 ID
55i5s5 ri er selection Of seed corn,
iii Prop dTyi and storing of
seed corn before fire ezing ather.:s
3983 8. Prop er electio of seed ears
S38s Il G ern ination ST Of seed ears,
ls.st rad ing to ven 81 zes of kernel
plating y nter toS accurate II
dropping III 5aAsI All XII VI
Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1913-05-01
IlMPORTAN CT o f. Bah TEETH
Every One Should Be Kept Until Re
placed BY More Firmly Built
Adult TeetF1. .s55s
By LUTHER IALSEY GULICK, M. ID.
Copyright by Ladies' Home Journal,

1o17 oy Ladles home journal l
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