davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1914-12-20
CHICAGO GRAIN MARKET.

Chicago. Dec ia feature as well a. a facto
In the wheat market at Chicago today was urgency
in the demand for the cash article. which vas
grabbed up by houses represSnting France. England
aud Holland. Those Countries prominent ~
,buyes and eagerly paid the new price levels e.
taElishod Os the markets upturn- AdTices In
Commanded by the cash srticls the futures
also moved 70 higher level , The
urgency in the buying Of wheat in all
positions is doubtless reflection Of the
nuwiedIe Of warning nations thAta the conflict now
raging will Be long drawn out. Cash transactions
in all TustiGns probably totAlIed 2.5o0o bushels!
The seaboard reported 100000 bushels the gulf
5000 bushels, ChicagO 65oWo bushels. and the
Southwestern markets told Of liberal sales TO
fTCIgneTs
With continued buying by foreigners Of the wheat
IN this q unty farmers arc refusing to sell at the
prices rev hid. which are aroRnd the best the
rrOp The Armour Grain Company received a mes
sage from Hastings Nefr., today, saying that Of
tie many bids sent out in that country Friday
night the reSprDse shoWUd that q complete let-up
in the movement rs afoot.
There Il Tut side TO the wheat market
and tina: is the bull side. Conditions favor still
higher priccs One Of the principal belps for the
bulls outside a the excellent buying Of the cash
article is The fact that reccTts at primary markets
continue u cScrease e1hey were only T.722. 600
bushels last week, compared with lOlGi.O0 bushels
the previous week, ard 60l2 g0 bushels a year ago
In the absence Of enough wheat to go around ex-
porters entered the corn market a larger scale
TO-DAY and the business for the dAy reTn-teo
al more than SO.VO bushels ioT foreign shipment
with additional amounts taken by domestic buyerS
While the country reported q little mnCt
liberal in its sales Of com there hardly enough
available TO meet the demand.
Oats were strong with the other markets. but
the volume Ct trRde was only moderate. Cash sAles
were snEller 1900 bushels Fractional adraBoss
were EhcWn IN hog prUducts on scattered commits
sion holse tT,ying The smaller racken rather
free selleTs. but their offerings well absorbed
The larger pac<ers and the houses with stock yard
connections led in the early buying Busness
Ia futGitS continues U bruadcu while the c1sh
trade still quiet. Close
The Washington herald., 1914-12-20

pect to derive as much benefit from
the act as Omaha, Pittsburgh. Louis
Vile or New Orleans. Washington
cannot lay claim to being either a
commercial. agricultural or Industrial
center. 1t is a residential city; and
while il has a fair trade and some
thriving industries, yet the people Of
Washington have not been inclined to
encourage the location Of factories
here or the upbuilding of large COM
mercial houses. There has been fear
that IL Washington were to become a
great business center. It would mar the
beauty of the Capital. apd hence there
are no large commercial or industrial
concerns here depending upon banks
for commercial loans in anything like
the degree such concerns do in the
other cities named and those OF like
character. If the banks OF Washington
which are members OF the Federal re-
serve system desire to equip them
selves with commercial paper falling
within the requirements of the act and
available for rediscount with Federal
reserve banks. they viii have TO look
The Washington herald., 1914-12-20
| COMMERCE AND FINANCE

ding. In oo-Ib. aeks. H.sAs20; do, winter
bran In l0eIb. sacks. E.ooa3S.oo
HAY-Ho. timothy. Zoo; No. timothy II. .soa
-; No. timothy. H.Soal6n; light clover mixed.
lSooAlsS0; No clover mixed Sooa1.oo; choics
clover, 500; No. clover. D.oo; No. 2 clover,
ls.0Oal7.5o; No. clover, l2oOAlAD; sample grade,
TO kind. quality and condition. loOOsl3so.
STRAW-No. l straight Fye A0oAA5o; No. :
straight rye laOoal3.5o; No. tangled rye, n.Ooa
Il.oO; No. tangled rye. sSOaso01 No. l wheat.
500; No. 2 wheat. T.ocN75o; No. / oat, 35ala %;
No oat S0oA651
DRESSED P0ULTRY-Chck-ns. old hens.
mixed, per h, u; do. Oostsn. old. pe- ID
10; do. young, per h., u: ducks. per b., llals,
Eeese nearby. per H.. Balls; do. Western and
Southern. per ID, I2El4; turkeys. choice, H.. Is:
do, fair to good. per H., leAI7; do, rUush and
poor, per H., l2al3
BUTTER-CreSmery. fancy. 1I H.. NSSI; d..
choice. 0lsaSIh: do. good, 8lik2sss; do, prints,
u do. blocks, s.; ladies. 2a5; Maryland and
fennsylTania rolls, 9a1 Ohio rolls lsaa0; West
Virginia roTs lsaO; storepaf4ed, l9izaD; dairy
Prints, lsaN: n cess butter. BAL.
EGGS-Msryand. Pennsylvania, and nearby
hrsts loss On, per doz-. 8: Western hrsts q; Wea
Virginia nrsss. SlAS2; Southern hrsts. 4s56,
The Washington herald., 1914-12-20

elsewhere than the city of Washington
for such paper.
In the formation recently of a gold
pool to assist in solving the foreign
exchange problems growing out of the
european war; and in the formation
of The cotton pool to relieve conditions
In the cotton industry of the South. the
banks of Washington have unhesitat-
tngly and promptly responded to the
call Of public authorities. They have
done this, although not rated as COM
mercial institutions, but as a patriotic
duty to the country.
Mr.. Charles C. Glover, president Of
the Riggs National Bank, has given
The Herald the above brief analysis of
the Dement'S to be expected from the op-
GRAFTON of the Federal reserve act with
particular reference to its effect upon
the banks or Washington. Mr.. Glover
is unusually competent to speak upon
this subject He has been president of
the Riggs National Bank ever since It
was organized in 1886, and for many
years prior to Its conversion into a ma
uonal bank was at the head Of the old
The Washington herald., 1914-12-20

name was afterward changed to Riggs
& Co, which name was retained when
the bank was nationalized in 1896 un-
der the title. the Riggs National Bank
of Washington. d. C. Its management
is also noted for its conservatism, and
its name is n synonym Of soundness
and stability. In its early history the
bank took an important part in the
financing of the Mexican war. and in
its later history 1t has been helpful and
influential in all public undertakings.
The bank has a capital of $1,000, 900.
surplus of s2.0OO.000 and total re-
sources of approximately S15,000,000.
making II the largest financial institu-
tion in the city OF Washington. 1t does
an extensive foreign exchange busi-
ness, having direct relations with all
The principal capitals OF the world, and
Is as well known abroad as II is at
home.
Through the Riggs Bank also $780,
100000 was paid for the Philippines.
and the S7,200.O00 paid Russia for Alag
ka passed through. the Riggs Bank.
The Washington herald., 1914-12-20

and well-known banking firm OF Riggs
& Co. Mr.. Glover's familiarity with
the details and practice OF banking.
and his intimate knowledge of the leg
islation of the past generation affect
ing banking and currency problems in
the United States peculiarly fits him to
speak with authority upon the prob
able workings of. the new banking
system. As a public-spirited citizen he
has taken deep interest in banking
legislation and was a leading advocate
of the passage OF the Aldrich- h-Vreeland
act OF May 80. 1908, under the terms
OF which several hundred millions of
national bank circulation was issued
to pass the crisis of the past summer
and autumn. He has been a most earn
est and NEUTRALITY-SUSPICIOUS. Of all the
legislation looking to the betterment
of our financial system.
The Riggs National Bank is one Of
the oldest and best known hanks in the
United States. Its history dates back
to 1885, when 1t was founded under
the name Of corcorsn & Riggs. This
The Washington herald., 1914-12-20
STANDARD OIL
NEW YORK pRnnuCR

New York. Dec. lS.-MILLFEED-Stesdy; tEads
quiet Spring bran, in ijlT"UHd sacks. 5.Z5aZj.so
u arrive; standard middlinEs. arrive. B 90; win
ter wheat, in loO-DOund SACKS. to GniIe. S.ISs city
bran N bulk. 2i5O
Rye FLOUR-StrOnZ; dealings light. Good TO
chOiCe. 5.s-sE.G. in sacks
CORNNEAL-Firm: moderate dealings Kiln
dried for e1Port, rs. in sAskA Coarse meal. IN
BUCKWHEAT FLOUR-ouiet; choice b ell
ing IN . quiet Uay al as
HAN-ReceiTts. 99l tors; firm; trade quiet. Quota
prime timUthJ. LlO: No. I timothy. L6. No. =
Lp: No. } 30 cpnts
sTRAW-Rerrfpt.. 10 tons ready: trade fGir
L1ng Tye quoted a 65a7O csnts
PORN STEADY: lsmand Ia slow. Mess. D.soa
N.O: family. S.OaB %: clear. H.ooa2i.o
BEEF-Stssdy; pGekst, Z.OGA3L0o; family 2aool
SO
LARD-Fimsr; trade quiet Prime Western.
loeS: refined rrptineut. is: south American,
li.o; renn~i Brazilian in kegs 1850: beef stearins
l0A CENTS; lard stearfne quiet; New York. NJ;
cents.
The Washington herald., 1914-12-20
LOCAL STOCKS REVIVE.
Total Amount of Bonds sold Yes
terday Was SIO,5OO.

There was a marked revival Of busi-
ness on the local stock exchange yest-r-
day. Bonds to the total amount Of SO, so
were traded in.
fun point advance was made by
Chesapeake and Potomac Telephone IS,
SUO worth being sold at 1O5. The bid
Price was raise d from 1922 TO IO5, and the
asked price from lO5 to lGJE.
The bid price on Potomac Electric
Power first IS advanced from IO3 to 1877,
one bond being sold at lG5. Two Potor~a
Electric Power Consolidated IS were dis.
posed Of At 1914 and g94., respectively. Il,
fractional Improvement in Washing.
Gas IS was noted, $500 worth beIr
traded in at lO3L.
The Washington herald., 1914-12-20
MARKET IS Dull;
FEW Shares SOLD.
Eventful Week IN Wall Street
Comes to a Quiet
II. Close.
RATE INCREASE HELPS
Increased Interest in Railroad Issues
Confidently Expected Soon-New
Haven Gains a Point.

New York, Dec. 1s.-wau Street had an
eventful week. The preliminary try-outs
Of trading a week ago today stimulated
outside interest, and on Monday the de-
mand for stocks grew so insistent that
the committee OF five found it necessary
to transfer all the stocks on the floor of
the exchange on Tuesday.
Optimism got the better Of Judgment,
and prices shot up four to six points,
bringing many of our ursinternational stocks
close to the maximum prices established
in London. Selling for foreign account.
supplemented by bcarish operations OF
professionals, checked the advance and
threw the market back into duIlness.
Vigilant stock exchange officials prompt
" discouraged speculative operations,
and the market became dull and some
what erratic on Wednesday and Thurs
day.
Fridays market turned decidedly weak
in the forenoon, and the turn carried the
flist down to the minimum figures il many
lstocks. This tendency was checked. how
ever, by the handing down Of the deci-
sion by the Interstate Commerce Com
mission, granting an increase in freight
rates. Prices steadied, although, from a
Street point of view, there was disap-
pointment that outside buying of stocks
did not Immediately follow.
Dull and Narrow.
Commission houses express confidence
and look Tor an increased interest in
railroad issues when the public Iealizes
the Importapce to the railroads of the
apparently changed attitude at Washing
Hon which Is considered a right about
face" On railroad legislation and re-
Rtriction.
TOday's market was dull and narrow,
with a total turnover Of less than $1,000
shares. New Haven was strong, ad-
vanCing from IS to SO. The position Of
this road has been improved substantial
ly by the rate increases. Southern Pa
Cific gained 1-2 point and Baltimore and
Ohio sold up to 20 Is Missouri Pacific
was firmer on reports of favorable earn
ings.
Alaska Gold sold up to .. It is un-
dcrstood this company shortly will is
sue S1,5cOOOO convertible 6 per cent bonds
10 be offered to stockholders at 1l0. Amer
ican Beet Sugar rose to q IS a new
high for this move.
Rock Island issues were quiet. The
The Washington herald., 1914-12-20

That the Federal reserve BANKING
act has already done much to restore
confidence in the business world is the
opinion of Cuno II. Rudolph. president
of the Second National Bank. Mr. Ru-
dnlph Is optimistic about the financial
and business outlook for the coming
year and places great faith in the ben
efits to be derived from the working
out of this reserve bank system.
There has been distinct restora-
tion Of confidence in the business world
during the last few weeks" says Mr..
Rudolph. Z think this is largely due
to the fact that the Federal reserve
banking system is now in actual oper-
alton. 1t is too soon yet to fOresee just
how far-reaching will be the effects OF
this new system. but il would seem
that the days of the panic are of the
past With the elastic currency pro-
vided by the Federal Feserve banking
act. capable OF expanding or contract
ing to meet conditions as they arise
all the financial requirements of mod
ern business should be provided for
Already a very evident Improvement
has been felt in business circles gener-
ally throughout the country.
1T is going to take time. of course.
TO work out all of the provisions of
the act, and a great deal of study to
fAIly comprehend its meaning and its
possibilities. Just how great its bene-
fits will be have to be determined as
Il proves itself in operation.
The Second National Bank is
member of the Federal reserve banking
system and as such, champions its
cause. / think that as time goes on
arc a full unders -aHd!ng q, the IL work.
ing of the act is reached it will be
found to be very far reaching In its
effect on the business world. And in
ali it should further increase the pros
pectS for better business In 1918"
The Washington herald., 1914-12-20

The Federal reserve act is the re-
suit of nearly twenty years agitation
and discussion of banking and curren-
cy reform problems. II has long been
recognized that the old national bank
ing system, admirable as it was in
many respects, was deficient in some of
the most important and vital essen
tials. 1t provided a safe currency, but
not one capable of responding to either
expanding or contracting business de-
elands. This grew out of the fact that
oar national bank notes were tied to
me government bonds by which they
were secured; and this sort Of curTen-
cy was not related to the business as
sets OF the country. The new banking
system makes fundamental change in
this respect, and provides facilities by
winch commercial paper. the proceeds
OF which have entered into commercial.
industrial or agricultural uses. or are
The Washington herald., 1914-12-20
COTTON MARKETS.

More decided strength shOWn in the COTTON
nArket Yesterday. with transactions at about tn.
highest leye's Of the rAcsIt r7st Broader marketi
Tor staple TEXTILE TTndTc's, Sith lArEr Sales m u,
primary market. stm'Ila,,ls acn;i:nent which I.1
already becune more HlJ'stic a. q result of Seavy
exports and the Promise 4 0D1tinuIng and in
Geasing demand from f1rs. Fn cUntr1rs Investment
byinS Is on the ircTua~s. with ordeTs TIE n1Tse+
at limits Whi3h have I'D IL this time al,sqb.i ali
offerings.
Delay in. cable COMMUNICATION with Gsrraau naE
The Washington herald., 1914-12-20

to be so used. may be converted into
currency. This may be accomplished
through the rediscount privileges of
the act member banks in the new
system being permitted to rediscount
commercial paper with the Federal re-
serve banks, subject to restrictions and
conditions imposed by the Federal Re
serve Board at Washington. No
doubt the commercial. industrial and
agricultural centers will be greatly
benefited by the recognition thus given
to commercial paper, and in general
these benefits will extend to the
whole country. Those communities
which are not favored with much
trade, or which have not become in
dustrial or agricultural centers, will,
Of course, not be benefited except as
they are bound to share in the gener-
ally improved situation. The city of
Washington. for instance. may not ex-
The Washington herald., 1914-12-20

collateral trust Is were strong, advancing
TO 26 on the report that the. old stock
behind this issue would be distributed
shortly, as the parent company is a solv-
cnt concern ana the stock once sold as
high as 200. and there are speculative
opportunities at he present low range
nf
The Washington herald., 1914-12-20


hsta. with 'bs holdins up q orden. Il ,Aaa1z o IN
ment IN cotton CIRCLES M41agss from th4: o'untfy
recently have been DELAYED With the ~fc-s a cn1s-
can brokera.
The United States Treasury Depa4dmeut hss not
yet furnished full information concerning eEp ~
20 foreim countries the reports Of which have been
withheld to some sztent By ouieTs fran the depaTt-
ment This information Is valuable tO the trade IN
showing the extent of the foreign demand unieh ii
turn is Of inhuence IN shaping market pricsS Cot
ton b not coatrAband, and there seems 10 BE no
reason why cleSances should not Be published In
fun.
The decision Of the cotton loan committee TO
make loans only on cotton Chased RcuUStiag TO
government standards win bring hone TO the 5ouIH
the full necessity Of observing the law In casdIca-
tiou Of the staple. II VIII also serve 10 regulate
the difference grades and enforce the use Of the
types furnished BY the government Ihese types
must be is'ed by the exchanges under the law and
unless observed, transactions will be penAEed for
violation at so pr bale
The Washington herald., 1914-12-20
New York.
New Orleans.
PUBLIC UTuITIES MARKET.

New York. Dec. ls-TradinE In public utilities
restricted during the hTst two days because OF
the diversion Of speculative and Investment inter
est the stock s1changs dealings but In mid week
the market was active with the investment Is
sues assuming 4 prominent position. Thcre we're
many inQuritS especi4ily for the preferred .tOcks
This BCtiTity maintained for only a short
period. after which the market quietsd down. and
at the end quiet and without feature
Quotations Of the active issues follow:
The Washington herald., 1914-12-20
BALTIMORE PRODUCE.

Bsltim0rs. Md. Dec 9-MILLFEED-SrrinE
bran, in loolb. sacks. 2saesjo; nearby winter bran
N lOO-Eh sacks S5oazyOp; -four to white mid
dinEs. in IOOIb. sacks. ssOoaSioo; Weston mid
dlinEs. lOeIh. sacks. 8oOa2s %: city mills mid
dlings, loo-Ib. sicksi 8.0aA5o; do. white mid
The Washington herald., 1914-12-20

Chesapssks 4 POenslae feIephons s.. 800 At
10; $40 q lG5
Pot1nAc lst e. 90 at l6.
Potomac Consolidated s. nm At "a; hoo at
Rf q
After call:
" ashiBron Gas s.. s2SoO at Tyx; $50 at B1I.
ChesApegke 4 PotOnac e. s.. % at los.
The Washington herald., 1914-12-20

Q. s. T. Registered. ise5........... 1851 -.
Q. g. ~ Coupln. ls5........... - 80.
q. s. Pan. Cnl l0s0 " =. rsx, Isss Gz ....
q. 5. Pan. CnI pEo ". 2. sE. 9ss ~ -.
u. s. Pan. chi - Registered. l9s1..... 81 -.
O. D. Pan CnL =. Coupon, DG....... ~ 80.
The Washington herald., 1914-12-20

Total sales q. Is shares aainst 2sTI yesterd,y,
lle.Ss a week AEn. ard 304.66O a year aED From
January to date S.6i4.s56 against 50 ~ 81 a year
Ign.
The Washington herald., 1914-12-20
NEW YORK CURB MARKET.

tuEnisbed By v. Hibbs 4 c.
NeE York, Dec l9.-Unifed Profit ssharirg starr
q upward spUTt the curb today, selis;
A. high as Is. high record Trading IN
balance Of the list EeGsraIy quiet, but the. ~
was a hrm undert0ne. Close:
The Washington herald., 1914-12-20
Liverpool.

Furnishsd By n. L. csrpsutsr q Co.. Woodward
Building.
The Washington herald., 1914-12-20

Furnished By n. L. Carpenter Co.. woodwara
BuildinE-
The Washington herald., 1914-12-20
NEW YORK BAW STATEMENT
NEW YORK COFFEE.

.Dvcresse. fIner.ase.
Evening journal., 1914-07-14
TEARING
down courthouse
Taxpayers League Would
Also Restrict use of Pub
lie Automobiles
DON'T LIKE $500
SALARY FOR JANlT0R

Resolutions favoring the repeal OF
the clause in the act adopted by the
Legislature providing for the razing of
the old New Castle County Court House
were adopted at meeting OF the Tax
payers League last night. The session
was held at No 7O2 Market street.
The organization went on record as
iavoring the use of the Court House
building as library, art gallery or
school, instead of tearing IL down after
the new public building is erected.
The Board of Park Commissioners
was scored for asking large sums of
money for Fairgrounds and the Lovy
Court was criticized for alleged delay
in planking the noor of the Washing
tom street bridge. ho league is dis.
pleased with the condition which per-
mits the iautor of the Wilmington
High School TO draw S3500 per annum,
half as much as a United States sen-
ntor. while teachers are paid pittances
Opposition developed To the practice
of city officials using ears owned by
the municipality after working hours.
and resolution was adopted urging
that the city Council and Levy Court
issue orders preventing the use of the
machines between q p. m. and Z a. m.
except in the ease of the chief of the
Fire De1artment. the police patrol, am
hulance and one automobile belonging
TO the Water Department
Evening journal., 1914-07-14
TWO men HURT when
FRACTIOUS COLT BOLTS

Special to THE EVENING JOURNAL.
DELAWARE CITY. Del, July IA
John Johnson, colored, was injured
on Saturday afternoon. when a colt
he was driving became frightened
and ran away. Georgs Paterlusky,
who was riding with johnson. was
also injured when he too was thrown
from the wagon.
Frank Cats. son of Mr. and Mrs.
Vincent S. Cats, cut his tongue while
IN swimming on Saturday.
Samuel r. Armstrong. Jr.. is max
ing extensive improvements to his
home on Washington avenue.
Dr. and Mrs. Charles II. Cart. Or.
Willard r. Pierce. of PHILADELPHIA
and Miss Helen Richards. of Milford.
left Philadelphia on last Thursday
for Slaughter's Beach on their
launch. They left here on Friday
and the engine broke down at Artif-
ciai Island, where they were caught
in the heavy storm, and were nearly
foundcred.
Personal Henry Wagner. of the
45th Company, stationed at Fort Du-
Pont and Miss Anna Rupert. of No
226 King street, were married in Elk
ton. Md, on Sunday.-Dr. Frank Bel.
vile, who is in Atlantic City. n J..
where he is recuperating. is expected
to return home in a short time
FIRST Lieutenant Herbert l.. Freeland
of the Medical Reserve Corps. at For
Mott. n. j., has been relieved from
duty and will proceed to San Fran.
cisco and sail about September 3 foi
tho Philippines.
Evening journal., 1914-07-14

VERA CRUZ. July interesting
developments are awaited following
the interesting statements of Roberto
Esteya Ruiz, formerly acting secre-
tary Of foreign affairs, who arrived
here from Mexico City. He declared
that General Huerta is about to re-
sign and leave Mexico. He said that
Huera plans to turn over the gov
ernment to Francisco Carbaia, his
new minister of foreign affairs, with
the understanding that Minister Car
baial will In turn resign and leave
the chair for some one who will be
acceptable to the Constitutionalists
His opinion was that Huerta has al
last seen the inevitable and intends
to bow to the force of circumstances
with as little injury 10 his capital
as possible. The change, according TO
Senor Ruiz, may come in a week; II
may come any day.