davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-21

In the premises the Stock Exchange.
either through It's governors or through
the Association of Stock Exchange Part
ners, would seem to be the proper body
70 undertake n movement which will
render tn" present curb market and It's
patrons less a prey TO the crooked
explolters OF public avarice or ignorance.
|, was developed In the report OF the
Hughes commission that s. per cent OF
the orders executed on the curb anne
from stock Exchange houses. Most ~
the new issues Of any value which make
their appearance on the curb are pro-
motions in which Stock Exchange houses
are Interested. The Hughes commits
sion held that the Stock Exchange
should and could assume n measure Of
responsibility FOR the curb market pro-
~portioned TO the relation held to il by
stock Exchange houses, and Il can no
longer he urged that a more formal
organiZatinn of the unlisted securities
market would destroy il by cutting N
business Of Stock Exchange houses.
Such a Formally ~ organization il
particularly needed for three specific
purposes. One OF them would h. to
set w some barrier against unqualified
brokers. Another would result in more
careful supervision of the securities ad-
mitted To dealings. Perhaps ~ more
importance than anything else would he
protection which dOee not now exist in
respect 20 transactions and prices. The
most complete publicity which II is pos.
sible To obtain for all the dealings in
the curb market would lac nonc too
little. As il, is now tn" reports of
transactions are fragmentary and all
but valuolese.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-21

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! thcs%O fdis % " "a = 81
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3 TN Mi'<rus
sound u ou, ~. o.. ar, 81
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10 { q ST
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The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-21
ExagGerated Pessimism.

Wall Street, In other words. having
found that the market was not obviously
inclined upward at this time. has sought
to compel action II not motion on the
downward side. and an interesting syinp-
tom Of the last week or so In Wall street
has been the growth 81 an exaggerated
speculative pessimism which represented
a recoil from last years prevalence OF
excessively credulous optimism.
To promote uneasiness and concern
which might issue IN an unloading Of
long contracts inordinate use has been
made OF the cloudy phase OF intcrna-
tional affairs. The new angles Of con-
.troversy developed by Germany's latest
proclamation In respect to the nature Of
it's submarine warfare. with al inciden-
tai bearing on the Lusitania case. have
served the purposes OF speculative argu-
ment for the decline. So also have the
prospects Of diplomatic difficulty in
yolved In the allied treatment Of the
commerce and mails Of neutral nations.
The projection Of foreign affairs into
domestic politics, DISCLOSED as inevitable
by the comprehensive speech delivered
the other day by Elihu Root. has added
to the conjectures Of speculative hear
i%siiiiess, hut still il is not obvious that
Wall Street al a whole has regarded
argument In this direction as more than
IN interim diversion Of professional spec
ulation.
Now there can be no doubt that the
influence OF uncertainty in foreign affairs
has made itself felt In financial circles.
II has helped TO temper confidence with
a proper and salutary degree Of con
servatisin, but the register of confidence
furnished by the stock market has
shown that diplomatic tanglcs have not
been taken SO apprehensively by serious
finance as by speculators seeking Ia
cover short sales at a profit, Were there
genuine and important apprehension OF
an unsatisfactory outcome OF the va
rious diplomatic negotiations which
Washington has OH its hands. quoted
values could hardly fail to show u, for
Wall Street Is not for war, and hopes
the country will keep ont Of II. although
the paciists at any price ~viciously pre-
tend hat finance favors intelligent pre-
paredness against war because it wants
war to come.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-21

Continued on EkrenM roye,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-21
FINANCIAL REVIEW
OF The PAST WEEK
Stocks Present Normal Fcbru-
airy Features in Amor
NAL Times.
REFORM ON CURB NEEDED

Professional SPECTATORS have had the
stock market very much to themselves
OF late and the market has In conse-
Quence lacked obvious significance In
the way Of forces and tendencies. Many
observers have protested themselves
pussled over the selling activities which
have been carried on and the superficial
~reactionary heaviness which has charac-
terised quoted values since the rally at
the outset Of the month from the ex-
IRENE Of decline reached in January.
Bewilderment has been expressed over
the failure Of stocks 20 hold even nrm
at times. to say nothing Of exhibiting
aggressive strength, when there Ia so
much profitable activity in general busi-
ness pointing to protracted prosperity
which might stimulate q constructive
reflection in quoted values. There has
been much comment also on the outward
signs Of . market constituencies 10 all
the dubious considerations derived from
the difficulties Of International politics.
and hasty conclusions unfavorable TO
the structural position OF stocks have
been drawn accordingly.
Vet there a been nothing peculiar
abou, the stock market this month.
much less extraordinary. Were it not
for the European wal and the rouble-
some complications OF the country's
political relations to 1t there would he
a more general perception that the stock
market has worn a close resemblance to
other markets at this season in pre-
v,ous wears. The war and all is con-
jectural hazards and consequences
simply serve now as the substitute for
the ordinary reasons or explanations
customariiy suggested or accepted to
account for an irregularly fuctuating
and meaningless price movement accom-
panied by the Limitation OF trading to
ultra professional endeavor.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-21

So far as politics has CHALLENGED the
Administrators policy In foreign af-
fairs IL has not been on the ground that
the administration should have iisked
entrance into the wag. but that It's polic,
has not been strong enough to insure
the country against war. Such a chal-
lenge. az Wall Street views 1t. ~ not
lkely to hazard peacc. Furthermore. In
estimating the chances of the times,
finance has duly taken note Of the de-
sirss Of the belligerents toward the
United States. Whatever may he as
suued as TO the wish OF either bclliger-
ent that this country could he drawn
In as an ally. II il clear enough now
that neither belligcrent wants to risk
the hostility of the United States.
In all likelihood the stock market is
to he looked upon AS shaping Itself for
an exhibition cf tendency IN the ap.
preach of spring. II has been struc-
turally strengthened by more or less
extensive decline N liquidation since
the maximum OF expansion was attained
last autumn. At current prices a grea,
catalogue Of shares offers attractions to
investment buyers. The comfortable
posture OF the money market extends
support TO speculative position, and
further and more substantial supper, is
'"N ''SA' 'E'
Of corporate equities through the rapid
Increment of earnings under way and
in prospect.
Another matter OF marketwise bearing
which has not received the attention
that IL deserves IL that Wall street has
been through a remarkable period Of
bullish speculation under safeguards
which never existed before AT "A similar
time. The reference Ia here to the
severity OF stock Exchange regulations
IN recent years against certain sp.rula-
tive practices and the rigid supervision
of dealings to protect the market agaiust
tactics which in the past would have
swelled last years million share days
TO olumes Of two or three times tina,
amount NJ the expense of the public and
at the expense Of the market itself. II
Wall street is In a position Of compare.
tive safety TODAY II is owing no, a little
20 the new conditions Of stock Exchange
speculation established IN the last few
wears,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-21

The exact attitude OF Wan Street is
quite otherwise, defining Wall Street to
mean the whole association ~ indiNid-
uals and interests all over the country
which IL summed up in the financial
markets. These markets as such. ire
s~pcctive Of the sentiment or opinions ~
the persons whose activities make uJ
Tho markets. desire that the paths of
the country shall Inc the paths Of peace,
Nor is the statement any more true IN
respect to avoidance Of the way which
leads 10 the shambles in Europe than of
avoidance OF war in Mexico. Fiuanc"
and can never he convinced
that enduring prosperity can he based
ON anything else than peace, The Euro
l'can war cannot make for the pros
pcritv ~ tho world AS a whole. and even
thcsprofitablc advantage which accrues
Ia an ccouomically strong country like
IN" United states. through M" oppor-
'unity Ia perform Increased economic
service to civilization, viii he sacrificed
II vC az" drawn into tho area ~ war.
Wan street does not on these arcouuis
| Oppose itself to TIA" courses whlcl, ,loS-
l"ratc s"lf-iut'lcst may unha ppily re-
Iuirc. hut taking matters AZ they stand,
,tH judgment II for peace as long as II
can ne patrlotica'y preserved.
More than that, American finance
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-21
TRANSACTIONS FOR THE WEEK.
n.u,os6 and Other shsrrs,
1916.

The follow = able gives. in addition TO the sales for the past week md
rang OF stocks on he New FORK Stock Exchange their dividend yields cal
culaMd M the closing sale or bid prices IN Friday night:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-21
Normal February Market.

In other words. there are so marS
features 81 resemblance that there is no
warrant for inferring hat Wall street
has been having anything else than a
NORMAL February stock market.
Winter Vaca,ion ahsentee!siu from the
financial district Ia a familiar token Of
u time % tho year when the previous
years accounts hav been cast up aud
settled and when the banking and bust
ness community has not begun TO antiri-
pate the advent Of spring in q survey OF
the probable factors likely TO control
tn the end Of the year which has been
entered upon. Moreover. speculative
inanition and apathy in The stock mar
bet have been coinc,dent with contra
dictory and more significant phenomena.
aich 49, the persistent strength or the
demand for investment securities and
,lle unslachened vigor of the general
business movement which has carried
forward enterprise further ahead han IN
many u year in the recent past.
Under seasonable circumstances pro-
fessiona, traders in stocks have ~
some incentive for operations which V
xiyeu the share list n specifically re-
dictionary appearance. The market itself
has seemed to be a rather normal sequel
to an extensive reaction following such
a great burst or speculation TOR inc riso
as expanded values n commitments
last utumn Fundamentally II has dis
played hrmncss and standard descrip-
lions have offered repeated resistance To
pressure. Special.ies have exhibited
some vulnerabiiity 70 speculative attack
and the restlessness Of professional trad
ers has induced them to work along the
line of least resistance on the theory
that in some quarters there might stfl
he an impaired technical position result
ing from an unliIuidated congestion OF
margin accounts open for the advance.
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03
STATE REGULATION Of
CHILD LABOR kNALyztO
Now That Federal Law In Passed
May Abolish Child Labor.

State regulation of child labor in
local industries IL not yet a. thorough
az the Federal regulation OF industries
engaged in interstate commerce. ac-
cording to the annual report OF the
general secretary of the National
Child Labor Committee, just published
in the quarterly Child Labor Bulletin
Twenty-eight States allow children to
work more than eight hours q day In
stores, and other local establishments;
nineteen States allow children to work
at night in such establishments; TWEEN
ty-edght States have no regulation OF
street work by children. and twenty
States have poor regulations; twenty
three States need night messenger
laws: twenty-six States do not require
medical examination OF children for
work permits: twelve States have no
educational requirements for work
permits and thirty-two States have
standards lower than the NTH grade;
one State has no compulsory educa-
taon law. and four States have only To-
cal option laws. Therefore. the
1.S50.o00 working children whose
any Kind of Federal regulation present
the major problem on which the ef-
forts OF the committee may now be
concentrated. says Owen r. f-ovejoy.
the general secretary. in his report.
Congress has forged the tools for an
aggressive campaign and We have now
reached the stage where by taking
hold instead of letting go. We may
hope to see the solution Of the prob
lem"
That the committee Is a strong or
ganization ready for the aggressive
campaign" Is sugges+cd in the details
Of the report wktch show that the
membership was larger than ever In
1913, 5otalling e.2S6 persons. that In
vestigations. including studies OF agri-
culture. cannerfeA textile mills. tone
ment homework. and vocational train
Ing, were carried on in fourteen diff
ferent States. that the committees ex-
hibits have been shown in forty seven
cities, and that It's newspaper publicity
has reached every State In the union.
The Child Labor Bulletin. contain
ing this annual report, Includes also
an article on the enforcement q child
labor laws which suggests that the
mere passage OF laws without the ma
chinery to enforce them and without
the cooperation of local courts II fu-
tile, a detailed discussion OF the pres
ent child labor situation. snd several
editorials on the movement for the
modification of all child weifere laws
recent State LEGISLATION. and the i'm
mediate effects OF the Federal law
Copies of the Child Labor Bulletin may
be obtained from the National Child
Labor Committee. los East Twenty
second Street New York City.
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03
THE RIcHMoND vIRaINIAN-sUNDAY, nEcEMBER 8 1916.

book concern carries over 11,0o0,oo0
insurance of the lives Of its employees
made out to benenciaries named by
the insured.
The Methodist book concern was
founded August II. 17S9. At ~ Fourth
Street, Philadelphia, on a capital OF
$500. b. John Dickens. when Meth
odism had but 5000 members. For
annually 33oo for dwelling house and
book-room. $50 for q boy. $53.ss for
shrew0od. 9eS9 to ciothe and feed him.
self. his wife and children--the NUM-
ficent sum OF 06G33 in all. In 1904
tho business was moved to New York,
where Il began business in one room
on Gold street The FIRST oficial Meth
odist Church paper. the Christian Ad-
vocate. now in its ninety-irst year, was
started In 1886. The Methodist book
room In Cincinnati was started by the
Rev. Martin Reuter- in q room 1890
feet at ELM and Fifth Streets. Not
even boy was provided a. helper
here.
II h On sach q foundation that the
great business Of serving the con-
stitusncy Of Methodism with weekly
advocates. Sunday School publications,
and Christian literature was estAb-
lishsd. Al the present time the Meth
odist book concern has, in addition to
its main houses at New York and Gin
cinnati. repositories at Chicago. Pitts
burg, San Francisco. Kansas City (Mis-
sourt), Detroit and Boston, the real
estate value Of which j. nearly 81. 000,-
900. And its profits. distributed to the
aged and retired ministers OF the
church, for the past four years, were
over 31,OOo.ooo.
Methodism through Its book concern
has furnished literature Of substan-
tial and permanent value. symmetrical
and we'll balanced. literature for the
people. 1t has thus rendered great
service to completeness Of church or
ganization ard work. has aided in CIV
ing uniformity to the tone. spirit,
polity. and teaching of the church. has
made possible the great modern ad-
vance In the newer methods and ma
ter1al Of modern Sunday School teach
ing.
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03
IMPORTANT EVENT N
AMERICAN METH0O|Sn

Cincinnati. o.. Dec. IA 'xed-let-
ter day in American Methodist Epis-
copal circles Is being celebrated in
Cincinnati by the dedication by church
officials ana employees of q new six-
story. ferro-concrete modern homo for
the Methodist book concern. The sx-
ercises were participated in BY rep
resentatives Of all departments Of the
concern and general church life. the
Oldest active employs. william vos-
mer. the house carpenter. with nifty
nve years Of service. ana Bishop Earl
8. Cranston. until May last the senior
active bishop Of the church, publish
Ing agent here from 1884 to 1895, 'ex-
employing the range Of participants.
The formal presentation Of the build :
Ing was made by Edward q. ehipley,
prominent insurance man, 4 member
of the book committee Of twenty Ave
ministers ana laymen. q board Of ac-
tive directors. who direct this great
church interest without compensation,
A feature OF the program was the
singing OF q chorus Of seventy en-
ployes from all departments Of the
plant, trained and led by an employe,
Oscar Schansen. During the exercises
two American flags were presented by
the employees 70 Dr. John Fl. Race.
publishing agent, resiae ont at Cincin-
natl, one to fly over the building. the
other to stand beside the pulpit in the
chapel. Luncheon and inspection OF
the new building followed the formal
program. Inter-department celebra-
tons were held by tho employees, and
the formal opening of the cha pei for
preachers meetings'' was observed
Monday. The Methodist
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03
.CARRANzA men SHUM
THEIR own MONEY
BY j. W. Falvella,

Laredo, Texas, Nov. 27.--According
to an American just arrived from
Mexico City. the Carranza government
10 financially embarrassed at this time
and officials Of the de facto admins
tration are resorting to all kinds of
schemes to extract good money from
tho merchants and wealthy people Of
the republic. There Is no dependence
placed in the fuctuating and valueless
Carranxa currency even by the Car
rama government officials them selves,
and accordingly they are devfsing
schemes for raising money that 10
good.
The American. who did not wish his
name to be used for fear OF offending
the Mencans, said:
THE merchants, railroad men and
mine employees of the country are re-
belling against tho use OF the cur
rency. and to overcome the opposition
means must be devised to get together
enough gold or silver to hold them
down. A Carranza military officer
told me the other day that he could
not blame the people for not wanting
to accept the currency. as ne himself
wanted none OF the stuff
ut has no stationary value said
the military officer. and my men can
not purchase the necessities of life
with It, There is a dearth of silver
and gold, for those who possess any
have It secreted. Mexico Is in a de-
plorable condition from a financial
standpoint, and I fear that there will
be many assertions from my COM
mand unless / can get the kind OF
money that is recognized as Of mar
ket value. That IL what Is causing
50 many reflections to the ranks OF
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03

the viliistaA. for our men are told
that Villa has good money and when
he pays his men they can make pur-
ohases.'
80 you see" said the American,
the worthless Carranxa money II In
q great measure responsible for mott
OF the dissension and internal dis
orders existing in Mexico, and unless
First Chief Carranxa quickly discov-
ers some way Of getting q loan and
putting good money in circulation he
Is going to be confronted by 4 prob
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03
art With AS Little AS 5 CT
---More If You Desire
CLUB RUNS FOR so WEEKS

wcomey
cents s.
e 0
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03

lem that he can not hAn1Ie
Another American eoGn1n
from Saltiiio, sayS the nec6
life have gone 70 such . haU1
that the Same condition ~ oo6i
which existed among the Jogog
about . year ago win nov n<1l
and be worse than before.
the CarTan3a soldiers aFo RI
hearted lot and remain n IT,
only becAuBe Of fear that n ~
sert and are caught they Will r.
cuted forthwith.
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03

Berlin. Dec. 2.-Lieutenant-C Com.
mander DIETRICH, commander OF one
of the two Zeppelins destroyed in the
recent raid on England distinguished
himself earlier In the war. At the
time he was in command of the North
German-L Lloyd steamer Brandenb burg
and after eluding a panxsuing British
cruiser. brought his ship successfully
from Baltimore into Trendhjem. Nor
way.
The commander OF second Zeppe-
lin was Lieutenant FrankenburK.
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03
Opens
December 18th
I'VE Money For Christmas If You Will Adopt Our Pl

First decide how much think
this bank aud will explain the system which will pay you
amount Make the first deposit then continue dpong week
the small amounts indicated during the year.
fore Christmas you Will receive
card shows and additional interest Deposits
advance but advise the regular systematic weekly deposits
so interest will be paid accounts which have been paid regularly
week
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03
It's a Good Habit

No matter what the habit saving part
earnings good habit You life
fuel bills investments clothes home improvements ec
about it along the lines You
find and pleasure Plan ahead little each
be surprised the these small will grow The
Savings Club benefit children them
habits of thrift which will well
Habits formed early in life lasting.
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03
Everyone Is Welcome

Old and rich and all join Christmas Savings
Club No matter what circumstances
and should adopt systematic plan saving for the future Our
is simple that child readily understand just what 1t is And
the to be deposited
the income of the small salary the Weather will be
pleasure explain you this simple enjoy the bne
fits of Christmas Savings Club Don't deaybu started
the opening date-December
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-12-03

Just follow of the simple plans offered by membership
card the Christmas Savings Club of the Broadway National
Thousands of people this have solved the problem
money" in this They year
their earnings each week.
We the kind Savings
your circumsances-you will find it easy simple