davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
FINANC1AL-LOCAL AND OTHERWISE.
BY I. A. FLEMING,

form combinations in trade, especially
forbidden by the Sherman law.
repeatedly European dealers and
Sonsumers have formed combinations
ana nave forced American producers to
unload at concessions. Germany ac-
. tNeiy fosters combinations and fire.
quently FORCES them: England permits
com olnatlons both in domestic and for
them. ee'
Legality of free combination of
american producers would have made
ZOE better prices, and upward of $780,
u u.,o, would have been added to the
purchasing power of this country and
It's permanent wealth. The economies
OF the particular situation go further
and have direct concern for American
industry
Mr.. Ryan does not believe that the
Sherman law was intended to obstruct
com binations in foreign trade expan-
sion, and tells of an effort to have
friendly suit to test the matter. but
the government did not see fit to Join
the suit under these conditions, and the
men interested did not care to take
action that might result in conviction
under the law
In the tobacco case the matter was
brought up; in the harvester case the
federal court struck out all references
! to export trade activities that were
held to be in violation of the law.
Financial Notes.
| Capt. G.. 7. Scott, vice president of the
Continental Trust Company, has just
returned from a business trip to Flor
ida.
The Credit Mems Association will
discuss plans for furthering the activ-
ity of the organizatio at a luncheon
70 be given early next week. H. II.
Mckee. cashier of the National Capital
Bank, is the president of the associa-
ton.
The Americas contains an inter-
esting note Of warning to American
manufacturers seeking foreign trade,
to beware of distributing agencies,
which are frequently but cloak to OBJ
tain trade secrets and to substitute
home articles at less cost. Credit in
formation of such agencies can be OBJ
tained without difficulty, and with ex-
listing conditions many such agents are
Likely to visit the United States.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
LECTURES ON THE SOUTH.
w. H. Hopkins of Atlanta Discusses
Religious Work at Herndon, Va.

Special Correspondence OF The Star
HERNDON, Va. December 19.-W.
H. Hopkins Of Atlanta. Ga. delivered
lectures in the Congregational Church
Wednesday morning on THE Business.
Social and Religious Work in the
South" and in the evening on "The
Ideal Church.
The Christmas exercises Of the school
league were held in the high school
Friday afternoon. when the schools
closed until January 4. A dramatiza-
ton entitled "A Song, Star and a
Story" was given by Miss Walker
pupils. Music was rendered by Misses
Estelle Mohler. Pearl A. Shreve. Eliza
beth Ellis and Mary Cockerille.
A short play. ''Mr. and Mrs. Santa
Claus" was given by Misses Jennie
May Brashears. Virginia kache. Kath-
leen Moffett, Esther Mayer. Louise
Ryan, Louise Rinker and Masters
Walton Williams and Mason Chamblin
Miss Christie Hutchinson told THE
christmas story
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
LEFT TO SINK IN SANDS.
Wreckers Unable to Save Schooner
Damaged on Shoa1

The big siX-masted schooner Alice NJ
Lawrence, one Of the largest of the
coasting fleet. has made her last trip
and her hull will be left to sink in the
sands of Tuckermuck shoal, Nantucket
sound, where she stranded December G.
The vessel went on the shoal in a
northeast storm. and soon filed will,
water SO that to pull her into deer
water was only to sink her. wrecking
tugs went to her aid. but could not
save her, and Tuesday last she was
abandoned after being stripped by her
crew, which had remained aboard.
The Lawrence was one of the fleet OF
big coasters owned by ]. s. Winslow &
Co. of Portland. Me-. and was employed
in the coal-carrying trade from the
Chesapeake to an Atlantic coast port
She registered $3.50 net tons, but would
carry about 1000 tons dead weight
She was but eight years old. having
been built at Bath In 1906 at cost OF
$145,0O0
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
COTTON MARKETS.
NEW YORK.

NEW YORK, December 19-The cot
ton market showed continued steadi-
ness today on covering for over the
week end. and a moderate demand
from trade and investment buyers, who
evidently found very little cotton for
sale around the ring. The close was
slightly off from the best under realiz-
ing. but steady and from . to points
net higher.
Gables were lower than due. and the
local market opened steady at a decline
of . to points under scattered
realizing, which may have been partly
inspired by apprehensions of increased
spot offerings on further advance, or
a desire to take profits before the pub
LEGATION of the census ginning figures
Monday morning. There was no ag-
gressive selling, however, with moth
ing in the news or in the trading to
indicate any weakening of the south
ern spot markets, and prices here soon
f1rmed up on continuation of the
buying movement which developed
Thursday and was considerably in evil
dence during yesterdays trading. Re
ports of continued active demand for
ocean tonnage and reiterated state
ments that Germany and Austria be-
tween them will take fully 100000
bales of cotton this season if shipments
can be arranged undoubtedly held the
advance, while buying was also en-
couraged by reports of a more active
demand for goods in the domestic
market and indications for continued
large exports. The amount of cotton on
shipboard awaiting clearance at the
close of business last night was again
reported in excess of last year. Private
cables from Liverpool replying to in
quiries concerning yesterdays rumors
that shipments might be interrupted
from the gulf ports denied such reports
and said that the rate on war risks hgd
been reduced.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
ENGL TRADERS EAGER
FOR EXCHANGE OPENING
Look Enviously Upon Resumption OF
Business in Few York
and Paris.

CORRESPONDENCE Of the Associated Press.
LONDON, December s.-The bad
weather recently prevailing has re-
duced considerably the attendance II
the street, l consequently business
has suffered. American rails continue
the most active securities
Since the treasury is reported to
have intimated that it would not adj
vocate the reopening OF the exchange
for business in the immediate future.
members are agitating for the use OF
the house for shelter from the bitter
weather. That, they say. is the least
the committee could do in return for
subscriptions which must be paid in
the usual way.
The reopenine Of Wall street and the
Paris bourse is being watched envi-
ously, and the result of some weeks
trading on these exchanges is expected
to guide the committee ana ne;a the ea sreas-
ton in dealings here.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
COFFEE MARKET.

NEW YORK, December 19.-Coffee
futures lost part Of yesterdays ad.
onenine was at unchanged prices to a
decline Of points. as there seemed tc
be some coffee for. sale around the
Closing figures Of last night, while
there were very few buyers In evil
dence. and the market eased of slight
" under scattering liquidation or rea-
liking. The close was to Z points net
lower. Sales, 1900 bags. December
$40: January. $40; February, $50
March. $40: April, $40; May, 6.bS; June
S'4s: July, 1856; August, f.!2: Septem-
Der. 7.4s; October. 7.5s; NOVEMBER, 7.65
Spot-Steady: Rio No. Z. rs; Santos
No. 4, 10.
Rio, unchanged; Santos, unchanged
Brazilian port receipts, $1,000; Jundiahy
receipts. $4,000; Rio exchange on Lon
don, 3-16d higher at IA 9-16d-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20

of the new federal and state laws
which reduced the legal requirement
from % to IS per cent of the banks
deposits. The clearing house revised
its rules and regulations to conform to
the new laws. Most of the relief meas
ures performed the service for which
they were designed. Having outiived
their usefulness, they have been aban-
doned. With the reopening of the New
York Stock Exchange it may be said
that the banking situation Is even
stronger than it was before the war.
by reason of the fact that the operation
of the federal reserve system has MADE
available for loans much larger por-
ton of the banks funds, and secondly.
by reason of the rediscount facilities.
the country's currency to the extent
required by business needs.
Bond Market.
Meanwhile good reports continue
from the bond market. Trading on the
exchange has been in very satisfactory
volume, while in the municipal mar
ket a season of great activity now pre-
walls. Municipal officials are very
happy in the realization that some very
choice issues, which in June and July
were a drug on the market and were
for that reason withdrawn therefrom,
vestment bankers. Dealers, on the
other hand. report a healthy demand
for their issues, and to SO large an
extent have been their sales that their
shelves are now empty and they have
not in every instance been able to
replenish them. No city or county
offering an attractive security need be
over the demand for 'heir
bonds just now The longtime invest
ment market was put to an interesting
test recently in the issue by prominent
New York bankers of S10.OoO,000 of
Chicago and Northwestern . per cent
bonds maturing in 1897. They were
offered for subscription on a Az per
cent basis, and Immediately rose three
points to a Az per cent basis. They
were largely oversubscribed, and would
have been still more largely covered
had the subscription lists been kept
open a little longer. The same bankers
put out a 100000 issue of equipment
trust bonds of Il subsidiary of the 1lli-
nois Central on per cent basis, and
they. too, found a ready market. The
response made to these offerings slim
ulated the bond market whole
and brought into clear relief the great
change for the better which has come
a bout in the investment demand for
securities. A favorable foundation has
been laid for the gradual broadening
put of the bond market.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
WARY OF COTTON CARGoEs.
Englishmen to Keep Hands Off Ship
ments to German Ports

LONDON. December s.-There is a
strong feeling in the London market
that underwriters should have nothing
to do with cotton shipments which If
Is proposed to make from the United
States TO Germany in neutral ships.
Proposals are said to have been made
that the underwriters should give their
agents in the United States authority
to accept reinsurance. but they con-
slder such action would. in effect,
amount to trading with the Germans.
They also believe it might be difficult
to limit the shipments entirely to cot
ton and that vessels might not leave
Germany empty.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
NEW YORK PRODUCE.

NEW YORK, December 1s.-Flour-
Firmly held. Rye four-Quiet. Buck.
wheat fiour-Quiet. Buckwheat-Quiet
Cornmeal-Steady. Rye-Quiet Barley
Steady.
Wheat-Spot firm; No. red and No
hard, 1893; all rail elf. track ex.
port, No. ] northern Duluth, 1.32. and
40. l northern Manitoba. 1854 elf
bunalo. Futures market was firmer on
strength abroad and small RECENT :
closing 1.a1 Is net higher Export sales
were estimated at fifty loads. Deem.
ber 1.2s1:; May. 1.33 LIS
Prunes-Quiet. Apricots-Firm. Peacb
es-Steady Raisins-Quiet.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
CHICAGO LIVE STOCK.

CHICAGO. December 19.-Hogs-Res
ceipts, $4,000 head; weak: bulk of
sales, 6.95a7.10: light, 6.55a7.15: mixed,
6.sOa7l5; heavy, 6.75a7.15; rough, 6.75a
6.S5: pigs. 5.50a7.25-
Cattle-Receipts, 300 head: slow; ma
tive steers, 500a10.o0; western. 4.S0a
1855; cows and heifers, 2-90aI.a5; calves,
5.5OaS.25.
Sheep-Receirts. 5000 head: weak;
sheep, 52oae.20; yea-lings, 6-3ea1au:
lambs. s .o0aS.aa.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
NEW ORLEANS.

. NEW ORLEANS. La. December 10
Cotton had a firm undertone today,
and, in spite of dullness, closed at a
net advance for the session of three
to four points This was within point
of the best of the day.
Covering by the short side, bullish
gossip regarding statistics. especially
exports and mill takings, kilograms
from the belt telling of good demand
for spots for immediate shipment and
a moderate amount of investment buy
ing were the features that held prices
up in the face of a poor Liverpool mar
ket.
Bearish comment was that Christmas
offerings of cotton probably would
press on the price early next week,
but shores were more inclined to even
up over the holiday period than to
increase their lines. At no time was
the demand large, and only a small
business was done. on the whole. but
at all times offerings were light and
not sufficient to meet the inquiry. By
some traders it was said that many
brokers were in possession of orders
to buy on 4 scale-down should the
market go into decline.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
TREND IS UPWARD
ON ALL L|ST|NGS
Review of the Trading Past
Week on New York
Stock Exchange.
SOME MARKET LEADERS
SHOW LARGE ADVANCES
Satisfactory Conditions Monday
Cause Partial Removal of Restric-
lions by the Governors.

NEW YORK, December 19.-Trading
ON the New York stock Exchange dur
ing the past week has been a contin-
uous succession of surprises-pleasan
surprises at that. 1t is truly inspiring
20 look through the price lists and to
note with what unanimity the upward
swing. has Travelled from the bottom of
the list right through to the top.
such. in fact, were the sensational
gains registered in some of the market
leaders III the opening session that
some people imagined they detected an
organized effort to drive them to SUI
ptrticial price levels where they would
he extremely profitable for short
sale. There is no evidence whatever
10 sustain such a contention, and it
IS the belief in well informed circles
tied the natural demand of investors
throughout the entire country for
sound securities
1t has been most emphaticaIly shown
that every alteration in general con-
iii1onS, IN so far the stock markets
are concerned. has been for the bet
ter. The first few days trading proved
This beyond question. Some of the
stocks gained twenty points over the
last regular" sale in july several
showed ten-point gain, and there
were few or none which did not enjoy
from two to eight points rise. Though
these prices are suggestive of a
BOOM, which nobody cares to have
1T this time, they are held, by con-
sentative people, to be indicative of a
return TO proper valuation: in other
words. the price changes are less an
exaggerated rise than a recovery from
an exaggerated fall, due TO influences
over which America had no control
SO satisfactory were the results of the
hrst two sessions that Monday noon
the governors of the exchange act
ing on the advice of the special COM
hllttee of five, announced that there
after all stocks might be freely trad
ed IN, with no restrictions of any char
dcter. except that sales must, in no
instance. be below the minimum fig
ures previously established These
minimum figures represent the closing
quotations of July 80, modified, in some
Eases. by the deduction pro rata of
dividends that have been actually paid
since the exchange closed. But mini
mum prices are now completely out of
date. and unless some serious reaction
resulting from the European war oc-
ours there is slight proba bility of their
becoming more than u negligible fac
tor IN the present situation. Now that
III restrictions rs to the money mar
hct have been removed and that the
hanks and trust companies are well
fortified against unusually heavy de-
fndnGs for funds, the machinery of
tne market would move smoothly and
Witty.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
TREASURY STATEMENT.

Inc condition OF the United States
Treasury at the close of business YES.
terday was: Net balance in general
fund. s6s.6S5.254; total receipts FRIDAY.
S2,296, $50; total payments Friday. So,
s4l,S57. The deficit this fiscal Year is
S60,s95.003. against a deficit Of s12.s7s'.
SAT last year. exclusive of Panama canal
and public debt transactions.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
A Retrospect.

Now that the critical period has been
-afely passed and Wall street once
more gives evidence of coming back
into its own, it might not be out of
place to reflect somewhat upon the
course of events leading to the return
OF normal conditions in Americas pre-
II Ter security market.
When in the latter part of July an
unexpected catastrophe threw the Eu-
IOpean governments and Europea n
financial and credit systems into panic
conditions, the New York Stock FIX
change attempted valiantIy to remain
open and thus provide Il clearing house
TOR the security trading of the whole
world. This was found to be impossi-
''i', and July 80 it was deemed inexpe-
'ticnt to remain oDen any longer. II
Vas tie last to close, the first to re-
"I,cE- II Is also the only market in
" hicfi there has been no moratorium
ana IN which full payments in gold
nave been made Some of the Euro
pedli inoratoria have expired. and in
some countries there is an appearance
of gold payments
AS soon as the necessity of forming
some means of exchanging securities
vas realized special committee of
III. O.. s. Noble, Henry X Pomroy Sam
uel F. Streltp was appointed and this
committee has most creditably handled
the delicate situation for this long
period The principal steps taken 10
meet the Crisis were: First the is
suancc of loan certificates bv the Eew
York Clearing House Association ~
be used III the payment of balances be-
tween member banks: second the is
suance of so-called emergency chr.
rency" to national banks: third The
creation of the one-hundred- million
dollar gold pool for the purpose of at
fording means for meeting payments
abroad; fourth, the organization q,
smother fund to take care of the city's
finances, and fifth, the formation of a
banking syndicate which by advancing
funds TO brokers made possible the re.
opening, of the New York Cotton Elk.
change In addition to these events
the period of stock exchange suspen
sion is marked by the establishment o
The federal reserve banks and the re
lease Of reserves by national and STATE
banks as = result of th" effectiveness;
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
DRY GOODS MARKET.

NEW YORK. December 1s.-Domestic
cotton goods today continued in better
demand from the Jopbing trade Yarns
announced to take place in carpets and
rugs January ]. This action was at
tributed to the higher cost of wool and
dyestuffs. 1-4N
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20

I WILL SELL:
S22.Ca0 Wnsi,. Iswy- & Electric per
cent bonds at S9+..
$1,000 Pot. FIe.'. Consid. mt 100.
sr,G10 Cap. Traction 50 mt 1867.
$1,000 VI ASH. Gas 3, ut 1887.
1000 Commercial Club SO at 87H,
80 Cap. Trac. stock at 1929 ex div.
- Wash. Rwy. pfd. at s1a4.
80 Wash. Gas at 55ls.
10 MerEeEthaIcr at 200 ex div.
IL I.8nston at 60.
10 Nor. 4 Wash. Steamboat at 1S21..
Federal Nat BanS at 49, ".
70 Wenrici,'s Brewing at 175.
Il. Bank Commerce q Savings at 49,.
| WILL BUY:
30 Wash. Gas at "a.
10 MerEenthaler mt 49,.
25 Wash. Rwy. com at 7954.
20 Wash. RsSy. pfd. at 781z.
subject to previous acceptance or
cancellation. All executions for cash.
Buying and selling orders on all
listed stocks and bonds solicited.
will also accept orders to buy
and sell stocks and bonds I'm New
York and elsewhere. Deliveries for
cash at your own bank.
THOMAS L. HUME, Broker,
i410 St Rooms Oil. Tel N. 1886.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
Worlds Champions.

From She Pittsburgh Press.
Sunday School Teacher-Did Pharaoh
overcome the children of Israel at the
Red sea?
Small Eoy-Eo, ma'an- 1t was
walk -"~es- sor the 1sraelites.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
Combinations in Foreign Trade.

John D. Ryan, president of the Anal
gamated Copper Company. is the au-
thor of very interesting article in the
current number of The Americas, is
sued by the National City Bank of
New York.
Especially interesting is that part of
his article which calls attention to the
losses that have resulted to American
producers through the inability to
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20

Returned Tourist-The lombard
ments are simply terrible. You have
no idea how church can be SO COM
pletely wrecked.
Friend--Yes, have was in a
choir fight once.--Puck.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
POINTED PARAGRAPHS.

The early maid catches the bridal
train.
Lovers Oft rush in where husbands fear
to tread.
One way to sidetrack bad luck is to be
prepared for it.
A man would rather have fortune smile
on him than give him the laugh.
Occasionally one meets a man whose
relatives use him for a dOormat.
Politeness is all right to a certain ex-
tent, but some people OverdO it,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
Results Extremely Gratifying.

There was only one way in which the
efccts of reopened exchange could
lee really show n. and that was by re-
opening The exchange. To say that
inc results have been extremely graft
''lne - pntting the matter very mild
indeed, Not one OF the dire calami-
nos predicted in certain quarters has
even partially materialized. The abb
s'u"c of the very heavy foreign selling
that was expected TO swamp the mar
ket was SO marked that it required
only one day for the governors to add
to the active list those issues which
are largely owned by foreign inyes-
tors. Instead Of heavy selling from
amy source whatever there has been
buying on scale which greatly ev-
c"edtd the supply of stocks at the level
st which public trading was resumed
The average of fifty leading issues
showed for one day in the early part of
the week (Monday) a net advance of
i,91 points and stood at the close of
the day 49, points above the final
prices of July 80 This shows not only
how great has been the Improvement
over the market conditions when public
trading was resumed, but also over the
conditions existing when the exchange
was suspended July 80. 'Tis true that
moderate reaction set in Tuesday. but
this was to have been expected. This
has been accredited mostly to foreign
Sclliug and the way in which the
tlHuluatloh was Wlthstood proves be-
yond question that there is solid
bottom" to the market, which has in
reality been improved and not injured
l'y the reaction following the first up
ward climb.
IL must not be forgotten, however.
that the inclination to trade in stocks
has necessarily been under great re-
~triction for nearly five months With
The reopening of that market much
pcHt-up desire for trading found an
opportunity for EXPRESSION and added
10 the general enthusiasm. Cables
from London this week made frequent
tnentiou OF This fact. which indicates
thar the London brokers are inclined
70 he SoInew hat critical of the New
York situation Small credit to them
However. for they are dependent upon
government sanction for the reopenine
of their market and il is now settled
That no open trading will take place in
London for the rest of this month at
least.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
The Rate Decision.

Railroad officials comment variously
on the rate decision. but as rule they
welcome it, Rock Island officials be-
lieve 1t will enable western roads to
increase earnings to meet all require
ments and will cause a general revival
in allied interests dependent upon the
railroad companies for their business.
President Loree of the Delaware,
Hudson and Lackawanna system said
that the coal roads had not asked for
advanced rates and were therefore not
disappointed, but he expressed interest
as to what the Engineers Brotherhood
would do In the matter of wage ad-
vances President Stone of the Broth
eerhood has been quoted" said Mr..
Loree. "as saying that as soon as he
got the is per cent advance in wages
now being asked he was coming east
to again demand an increase"
Another official said: The roads re-
ceived pretty near what they asked for
but it would have been better. more eff
fective in building up confidence in
American rails, if the commission had
been unanimous"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-20
Money to Loan

Secured u; First Deed OF Trust Real E1tAt1s
Prevailing interest and commission
!oseoh 7 Weller. 6eo r ST NV.