davidaulloa/AmericanStories huggingface dataset:
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
New York Aims To Be-
Iron Industry Center
Three Schemes on Foot to Estab,,..
Blast Furnaces on Harbor-
Low Rates Reason,

NEW YORK Oct. 25.-Tba
preaching advent Of New York C,,r
into the pig iron industry will mean
the investment of millions Of dollar.
and large additional supply of labor
Three different and distinct protsc+.
are now on foot looking to the est,h
lishment of blast furnaces on Nsw
York harbor. This announcement vas
made at the Merchants Association "a
New York. The Industrial Burear =.
the association believes New yorl,
harbor Is better adapted to the man.
ufacture of pig iron than any otha.
section in the United States excen.
Birmingham, Ala, fer that location
which can furnish the lowest trans.
portation cost on raw materials and
on finished products is the most "a.
vorable for pig iron production,
The opening of the State Barge Ca.
nal will give New York the stratepI,
advantage of low transportation costs
for receiving the raw materials
New York producers will not he ia
pendent upon Lake Superior ore. for
with the enlargement Of the Lake
Champlain Canal it will have direct
access to the rich deposits NJ tbs
Champlain district, which can ba
placed in New York at less than "a
cents per ton.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
N ADOO TOR|D
COMPTROLLER
Of ALL POWER
Under New Currency, Law Impor-
tant Treasury Official Will Be
Only Figurehead.

WASHINGTON, Oct. 25.-Refore
the currency bill is enacted into law
it will be amended practically to abol-
ish the important post Of Comptrol-
Ter of the Currency.
The work now done by that official
win be distributed among a number
OF new offices throughout the coun-
try, one in each Federal reserve dis
trict, which shall be directly under
the Secretary of the Treasury.
The position and title of Comp
troller will be retained, but he will be
little more than a chef clerk to the
Secretary.
This is the present plan of the ad-
mlnistration. and the indications are
that it will be carried through.
Several Reasons Given.
There are several reasons for the
change. One Is that Secretary Nc
Adoo believes the work can be better
accomplished by having a man in
charge of each district, instead of
one for the whole country.
Another about which little is said
but which is the most important is
the observation Of men in close touch
with Treasury affairs, that some
their eyes too firmly fixed on the bank
to which they expected to go after
leaving the Governments employ. The
new arrangement will relieve the
Comptroller of the power to extend
favoritfsm to the bank which has Of
fered him place.
President in Doubt.
President Wilson and Secretary
McAdoo have been in doubt for
months what to do with the position
Of Comptroller. and this explains the
continued vacancy Of the office
There is of course, a possibility
that the plan will not carry, and the
Comptroller remain as important an
official as heretofore. In this case.the
appointment will lie between George
w Norris, Of Philadelphia, and AS
sistant Secretary OF the Treasury
John Shelton Williams. Norris is
President Wilson's choice and Secre-
tary McAdoo would like to turn the
office over to Williams.
Senator Lewis, Of Illinois, has been
trying to get the position of Comp
troller for his State, and e. n. Hur-
ley. Of Wheaton and Chicago. has
been prominently mentioned for it.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
Trade Freely Talks of
Is Cents for Cotton
Frost Cuts Deeply Into Estimates of Yield Els
pecially in Eastern States.

MEMPHIS. Oct. 25-Revision of
crop ideas downward has busted the
cotton market during the week. The
thing most feared-frost and freez-
ing peratures-struck the belt
amidships early in the period, and
put crimp in prospects for the late
or top crop. 1t paid visit to practi-
Cally all the belt where there was
a chance of the late yield proving
worth while, the finishing touches be-
ing given to the Carolinas Tuesday
night 1t was a severe spell of bad
weather, and came several days ahead
of the average date.
West of the Mississippi River,
damage from the cold was not i'm
portant, though some sections of Ar
kansas and perhaps little of Texas
were nipped. In a large part of the
central belt there was very little crop
late enough to be hurt, and the cut
ting off Of young bolls was particu-
larly Offset by the benefit resulting
from forcing of bolls to open.
East the Shining Mark.
Alabama eastward that the frost
would find it's shining mark, and
belief that 1t did has been one of
the inspirations for the burlish ac-
tivity.
Estimates of the reduction in the
size of the crop vary widely, some
being from a half to million bales.
II is realized it will be several days
before calculations can be made with
any degree of precision, for so much
depends on the weather that follows
the frost and freeze. Conditions so
far have not been favorable, for
rains have come and temperatures
have risen quickly. thus keeping the
injured bolls wet and Increasing dan
ger of the immature lint rotting and
running.
Not of much less importance as
bearing on the amount of cotton
available for the spinning world is
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
Markets
Get Ozark Cedar
Ten Cars Of Logs Ready for Ham,
burg, Germany-Process of
Seasoning Is Intricate.

SPRINGFIELD, MO, Oct. 25.-Ce-
dar from the OZarks is not only going
into the pencils used by all America,
but the wood is also being sent to
Europe in large quantities for the
making of pencils there. At present
the Branson Clancy County, mills of
the American Lead Pencil Company
OF Hoboken, n. j., have four cars Of
cedar logs properly seasoned and
dressed, ready for shipment to Ham
burg, Germany, and will send six ad-
ditional cars in the near future.
The logs are all carefully hewn aud
mill seasoned before they start upon
their long journey to the pencil facto-
ries across the sea. The cedar trees
are cut off the vast timber tracts
leased in Taney and adjoining coun-
ties OF Missouri. and also in North
ern Arkansas, and lie on the ground
in the midst of the forest until they
are well dried. Then they are brought
TO the mill and, after being properly
trimmed. are sawed into shipping
length. Then they season in the dry
ing rooms Of the mill until they can
be shipped without danger of warping
on their long trip.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
Railroads 1913 Car
Orders Only 100000
Sharp Decrease From 1912 Business
Reported-Tight Money Is
Generally Blamed.

NEW YORK, Oct. 25.-Car builders
believe that not more than 100000
cars will be bought by the railroad
companies this year, unless a decided
increase comes in the closing months
as compared with a total of about
235 900 in 1919.
No indication has yet appeared,
says The Iron Trade Review, that the
extreme dullness in equipment pur-
chases will be broken. The tight
money market generally is accepted
as the cause for inactivity, and it Is
matter Of conjecture when this factor
viii be removed. If the railroads in
Eastern territory should be successful
in obtaining per cent advance in
freight rates, the embargo may be
lifted, but it Is difficult to see how any
other stimulant to contracts can arise.
Total orders so far in 1918 are for
$4,000 cars.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
lnsures
Parcel Post Bundles
Premiums on Packages Valued Be-
tween SIS and 5000 Run
From to 5 Cents.

HARTFORD, Oct. 25.-One Of the
insurance companies here is now is
suing parcel post insurance, providing
protection against loss or damage
from any cause whatever, including
breakage of merchandise while in
transit through the mails.
1t is possible under these policies to
insure the actual value of merchan-
disc mailed, between the limits Of SIS
and $500 for a premium of from 2 IL
cents to cents. The policy is at
tached to book OF certificates. which
Is put up in convenient checkbook
style, containing certificates of either
l-2 or 5 cent value.
The insurer simply tears off enough
certificates to cover the amount of In
surance desired and enters upon the
stubs the name and address of the
consignee the value of the package
and the date of the mailing, and then
incloses the certificates in the pack
age or mails them with the invoice
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
Try to Stop India
Wetting It's Cotton
Hindu Farmers Unable to Resist
Temptation to Make Bales
Heavier by Using Hose.
Special Cable 70 The American

Special Gable TO The American.
LONDON. Oct. 25.-Communica-
tions are now passing between the In
dia Office and the Indian Government
on the question of Lord Crewe's sug-
gestion that legislation should be
passed to prohibit the watering of
cotton in India.
Although Indian cotton contains as
rule less water than American,
Egyptian or Chinese. yet 1t is well
known that in the cotton districts in
India pumps and hose appliances are
used, without any attempt at secrecy,
to saturate the cotton with water,
which is not always Of the cleanest,
the idea being to cheat the buyer by
selling him water for cotton at so
much a pound Another form of adul-
teratfon is mixing. The ryot seems
unable TO resist the temptation to mix
his damaged or discolored bolls with
his sound ones, but even if he does
the result is vitiated by the action of
the middleman, who promptly mixes
inferior cotton with the good.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
Unwary Are Warned
To Buy Land Slowly
Thousands, Says Dealer, Take Lots
Too Far in Country-Advice Is
to Seek Good Agencies.

NEW YORK, Oct. 25.-At a recent
meeting of number of prominent
New York suburban real estate OPP
orators several pathetic instances Of
unwise investment by persons OF
small means on the eastern end of
Long Island were quoted. Suggestions
were made for protecting legitimate
operators, who have had this unfor-
tunate condition to contend with and
who have had to suffer in the public
mind regardless of the reputable
manner of conducting business by
their companies.
Speaking on this subject, ]. C. Nc
Knight, of the Mcknight Realty
Company. was OF the opinion that the
general public should seek out for
themselves the real estate firms of
known reputation.
There are thousands upon thou
sands OF people scattered throughout
this country, Mr.. Mcknight believes,
who have been persuaded by unscru-
pulous real estate statesmen to pur-
chase lots for investment that are
situated miles from railroad station
and that have no general use either
as a site upon which to build a homs
or even for farming purposes.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
Cotton and Linen
Schedules Perplex
Much Litigation Likely to Arise Over
Interpretation of Present
Tariff Law.

NEW YORK, Oct. 25,-The cotton
and linen cloth provisions of the tariff
act Of 1913 are the cause of much per-
pleXity to importers DESTROYS of OBJ
tanning the lower rates of duty carried
in the new law. In many instances
the phraseology employed in the pres
ent act differs materially from that
used in the Payne Aldrich tariff, with
the result that importers are more or
less at sea regarding the rates at
which fabrics may be enttred.
During the last few days many i'm
porters have visited the appraisers
warehouse with samples seeking in
formation concerning the probabe
classification to be returned on the
goods by customs officials.
Customs examiners themselves are
not free from doubt as to the inter-
probation to be given some of the cot
ton cloth and linen cloth paragraphs
The indications are that many doubt
full classitications will have to be
thrashed out before the Board of
General Appraisers and the Customs
Court.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
BANKS
FEAR INVASION
Of AMERICANS
Prepare Retaliation if New York
Institutions Open Foreign
Branches.

NEW YORK, Oct. 25.-The tenor
of news from London banking cir
cles goes to show that the possibility
Of an invasion by our national banks
into foreign preserves under the pro-
posed currency bill is receiving more
serious consideration abroad than in
this country.
New York bankers have said that
the establishment of branches for ma
tlonal banks in other countries is not
probable on a large scale, as the bust
ness could not show sufficient profits,
but their contemporaries at the Eng
fish center evidently believe that
something Of an experiment will be
made at least after the currency bill
goes into effect.
The London bankers have made no
preparation to meet competition, as
far as is known, but there is talk Of
extending their operations on this side
If, national bank agencies are opened
in England, step in the direction of
retaliation if business is taken away
from them in their own field.
British banks already have agen-
cies in this city and New Orleans,
which were established for the pur-
pose of financing staple imports into
England. Foreign financial writer's
argue that it would not be difficult
for British bankers to enlarge their
enterprises in America If cause is
given them to do so
Though no outward signs of I'M
easiness have yet appeared among
the London banks, ives may be sure
that they are not shutting their eyes
to danger" says one English financial
paper. Banking authorities who are
especially interested in American
business are studying the question
very earnestly, and in due time they
may be heard from regarding it."
In speaking of the branches of
English banks already in operation
in the United States the writer says:
This was quite legitimate enterprise
and we are glad to know that 1t has
been rewarded with a considerable
amount of success. To be just to the
American banks, they have taken no
serious objections to it, but it might
be different If the enterprise were to
be carried further and other London
clearing banks were to launch into it.
An all-round scramble for foreign
exchange business on both sides of
the Atlantic would be a much more
interesting than profitable episode
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
7 ING
CITY BANK COSTS
U.s.. OFFICIAL job
An Assistant of the National Bank
Exainer in New York Is
Dismissed.

WASHINGTON, Oct. 25.-After an
inquiry by its special investigators,
the Treasury Department has dis
missed one of the assistants to the
National Bank Examiner in New
York, who prepared the recent re-
port generating the National City
Bank. Of New York, of the charge of
violating the National Banking law
in raising s45,000,000 for Samuel In
sull and Henry A. Blair, of Chicago,
for merger of local traction inter-
ests
The investigation convinced the
Treasury Department officials that
the report, which "whitewashed"
Frank A. Vanderlip and Samuel Nc
Roberts, president and vice president
OF the National City Bank respective
ly, was not justified.
New Report forthcoming.
Accordingly, National Bank Exam
liner Starek, at New York, Is now
making another investigation OF the
charges filed with the department by
]. B, Hogarth. of Chicago, and his
report is expected soon.
1t has developed that the Treasury
Department officials have gained the
impression that the National City
Bank felt It had put one over" on
INC government DOlH ny HeSOtld lIIS
the big transaction with the Chicago
men, and by securing a report from
the Treasury Departments agent that
there was no turpitude in the affair.
To Probe the Syndicate.
They believe that the deal was han
died by a syndicate as admitted by
the bank officials, but they believe
also that the members of the syndi-
cate either directly or indirectly,
We're interested in the bank, and that
In effect 1t was strictly a National
City Bank investment.
1t is this proposition which Bank
Examiner Starek has been instructed
to investigate most thoroughly.
The name OF the man who was dis
missed could not be learned, but
next to the currency bill-the in
quiry into the Chicago deal is occu-
plying most of the departments at
teution
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
Southern Marts Wait,
SaysPanamaDelegate
Senior Lefevre Declares LatIn-Ameri
can Exports Can be Quad
rupIed With Ease.

KANSAS CITY. Oct. 25.--If Ameri-
can exporters will but give the Latin
American trade question half the
study due its Importance exports from
the United States will be quadrupled
within ten years after the Panama
Canal is opened to commerce.
This prediction was made by Senior
J. E. Lefevre, first secretary of the
Panama Legation in Washington in
an address here under the auspices of
the Kansas City Commercial Club.
The weakest point shown BY
American exporters in their efforts TO
build up their South American trade"
he said, 'ts their method Of packing
goods for shipment In this their Eu-
ropean competitors have the adyan-
tage.
"A number OF great American ex-
porting concerns have established
agencies and warehouses In Panama
Guy. Other concerns are bound to
follow"
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
Change Of Methods
In Crockery Field
More Road and Less Spot Business
Being Done In Fall, Is Report
of Glass Publication.

There is a change of merchandise
ing methods apparently going on in
the crockery and glass field. Every
year, according to The Crockery and
Glass Journal there is more road and
less spot business being done in these
lines for fall. The influx of Southern
buyers, (which formerly made its ap-
pearance shortly after the first of July,
Is yearly growing smaller and small
err, and the Western wholesalers, who
used to come into the market every
fall, now do the bulk of their buying
for the year in the spring. The
growth of the import business is held
largely responsible for this change of
conditions, and it is becoming a
much mooted question whether or not
the trade is better off with the buy
ing done in this way.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26

the situation in Texas, where the
proportion Of extremely low grades
is unprecedentedly large, resulting
from the wet spell which came some
weeks ago and has continued with
but slight intermission since. Some
estimate the amount of cotton not
fit for spinning purposes as high as
10000 bales, and advices from
sources not to be disputed are to the
effect that the situation is the worst
ever seen in Texas 1t is said to be
much worse than that existing in the
central belt in the fall of 1906, when
autumnal rains threatened to ruin
the crop throughout the Mississippi
Valley.
Good Grades Scarce.
1t seems certain that there will be
a great scarcity Of good grade cot
ton, and premiums are already begin
ming to climb The situation is so bad
in the Southwest that a number of
buyers have left Texas and come
here, something that does not usually
happen until after the turn of the
year.
The marked strength in the market
has stiffened the ideas of holders as
to values, and there has been a dis
position to raise prices along with
Jlt duVdiiCb IN futures. demand mas
been satisfactory, though business
has been to some extent restricted by
the excited state of the contract mar
kets. Bulllsh sentiment has risen,
and Is cents is freely predicted for
an early date. The ease with which
IA cents was reached and passed
seems to justify some of this conf
denCe although the conservative ele-
ment in the trade cites the fact that
prices are about s15 a bale above
those ruling a year ago.
Picking Is being pushed everywhere
as fast as the weather and labor
Will allow, but conditions have not
been ideal. In the Delta sections there
is much complaint because labor is
scarce, though 81 a hundred pounds
is the ruling price paid, and some
have paid more. The high prices
accentuate the desire to save the
crop in as good shape as possible.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
and Veus by Experts of Finance Industry, Crops and Conner
OCCASIONAL
OBSERVATIONS

If the tug of-war between the poll
titians and capital continues it
will be easy to name the losers.
The politicians? No Capital?
No. The public, The contest Is
fraught with the direst conse-
quences, as investors are realiz-
ing,
Rock Island is drifting toward the
rocks. That isathe story told by
the roads crumbling quotations.
Adoption by Washington of Wilson'S
pet Seven Sisters" would cause
a shudder in the financial COM
munity. These ladies have sharp
teeth. In Jersey they have done !
little biting. But they would be
capable of drawing blood very
freely were they indorsed fed
orally. Yet they are not without
desirable qualities.
No doubt Wall street will be blamed
by some for the downfall 'of
Sulzer. 1t is so safe to vilify
Wall street, for it never hits back.
Which, on the whole, is a pity.
~
The income tax has few terrors for
the average Stock Exchange man
these days, so low are profits.
One per cent received on losses
would mean more than a one per
cent payment on profits in a good
many cases this year. No leaner
period has been suffered in a
generation. That failures have
been so few and, unimportant is
a tribute to the conservatism and
toll Of 70
change firm. Nowadays a house
that begins to totter closes up
before it collapses Instead of aft
err This saves everybody trouble
and dollars.
"And the provisions Of the proposed
currency bill will bring the coun-
try down to the verge of bank
ruptcy," said former Senator Aid
rich at the banquet the other
night, and at the word down"
banged the platform, upsetting a
glass of water on the head of a
stenogra pher sitting just under
meath. The audience of 500, de-
lighted at the dramatic incident,
applauded.
When Professor Seligman, of Column
bia University, world authority
on things financial, both in theory
and practice, pronounCes the
twelve regional bank provisions
of the Owen Glass bill as utterly
incompatible with sound theory,
may there not be something in the
bankers universal appeal for a
single central bank with branches
wherever necessary?
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
Go. Profits
Increase During 1913
Gross and Net Earnings Grow and
Profits Become Equal to
9.28 Per Cent.

CHICAGO, Oct. 25.-The total in
come of the Pullman Company for the
year ended July 81, 1913, was $42,-
1912 and SIS, 1874, 61o in 1911.
The net income for the year was
$40, S70.206, which is equal to 1856 per
cent on $120,o00,000 stock before
charging out depreciation. as com
pared with 14.41 per cent on the same
stock the previous year.
The depreciation charge this year
was $S,729,09S. leaving a surplus of
s11142,10 compared with $1O,42S,459
in 1912, $11,140,032 in 1911, and S13,-
93S.49S in 1910. After dividends Of
$9,599, 500 there is balance of ST.
541,6R.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
Combination Formed
Of Knitting Mills
"Aktiebolaget Sveriges Trkafabri.
ker" Is Title Of New Concern.
Quality To Be Improved.

With the possible exception of three,
tho knitting mills OF Sweden, report $
Consul Douglas Jenkins, of Gateborg,
have been absorbed into a combina-
ton recently organized and known as
Akiebolaget Sveriges Trikabriker
Emitting Mills Company of Sweden)
1t is announced that its principal
object will be 10 improve quality and
quantity OF the output and thus re-
duce the considerable imports of knit
goods. II is intimated that the indus
try is to be modernized-pres
that the machinery is to be improved
by the addition of new appliances, etc.
The exact capital stock of the new
combination is not given.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-10-26
BEET TONS ARE REDUCED
rs CENTS UNDER TARIFF

California advices state that follow
ing the passage Of the tariff bill by the
Senate the American Beet Sugar Com
pany announced a reduction of 75c per
ton in the price to be paid growers for
beets in the 1914 season. The base
price for the past wo years for beets
6naly2ing Is per cent sugar has been
50 a ton, with an added allowance OF
25c ton for hauling.
ON the same base the price next year
will be 81 so ton, with no hauling al
lowanCe The increase Of SOC a ton for
each Increase of / per cent in sugar will
be in effect as before. ard also a de-
crease OF 25c per ton for each | per
cent less than 10 per cent of sugar For
beets yielding 90 tons to the acre tho
reduction amounts TO SIS an acre loss
TO the growers