davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04

s2,200.O00. All the regional banks are
now on dividend-paying basis.
All probable contingencies are guard
ed against.
A View of the Crisis.
]. S. Bache & Co. in their regular
letter have this to say:
Just as the nation was swept unre-
sistingly by an ,overpowering torrent
into a position of commanding wealth
making. it is now being swung into the
zone of conflict. Should hostilities
actually eventuate, the whole people
would be welded together by a national
spirit which only war can develop. The
nation. saturated now with the indus
trial essence produced by money max
ing as the leading motive, would rise
and be purified. The true nature of a
great people would come to the surface
and dominate the whole country. For
the first time since the war began
American honor would be exalted and
indicated.
In the midst Of q crisis it is of no
material benefit to weigh effects which
have not become operative and, in fact,
it is impossible to even approximately
determine what those effects may be.
The immediate future depends upon
the moves made at Washington. That
these will not be precipitate. the ex-
perience in former crises serves to in
dlcate. Germany has declared war on
humanity. and includes in the horizon
Of its victim-seeking periscope the
peaceful citizens of all neutral nations.
1t is the same policy as at the begin
ming devastated Belgium, only now MUIR
derous destruction is aimed at the
whole world.
President Wilson's 1ong-continued eff
forts for peace are met at last with
fiat defiance and threatened destruc-
ton.
And yet the yelled int ention of this
mad challenge to civilization by a
desperate military dynasty may be to
array the whole world against Ger
many and allow her thus to throw up
her hands in face of overwhelming OPP
position. Is President Wilson the one
intended to unite the neutral nations
in threatening protest?
The effect upon our foreign commerce
from an economic point of view, should
the relentless submarine campaign
prove effective, is to be considered.
How this export trade may be pro-
tected is one of the problems. the solu-
ton of which can only be conjectured
as events take place.
The experience and the results OF our
two or three years of Industrial de-
velopment will have their favorable
part in the new crisis. We have be-
come fortified financially to an I'M
heard-of extent and we have developed
a skill as munition makers IN enormous
volume that may stand IS in good
stead. We would becom" a rock of
strength to the other nations in the
war to preserve civilization.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
COTTON MARKETS.
NEW ORLEANS.

NEW ORLEANS, La, February g.
Cotton bulged nearly two cents pound
today after the trade had ligested the
| news of the break with Germany From
| the lowest to the highest. July. the
most active month, rose 100 points, 50. so
bale. The rise was well maintained
to the close, which was at a net gain
for the session of ZIG to 141 points
In the early trading the market was
excited and unsettled, with prices
showing no decided trend until the
bullish idea that war would mean in
creased consumption of cotton was
quite generally accepted. and on this
prices took on a strong upward move
ment.
Around the opening the market lost
4 to IL points, but Immediately after
f1rmed up and went % to IS points
| above yesterdays close At this stage
| the first information concerning Pres
| ident Wilson's action was received and
a sharp break occurred. which landed
| trading months q to 40 points under
yesterdays close. For a while the ring
was in a state of confusion.
| Gradually the demand increas ed
strong bullish interests being heavy
buyers on the theory that this country
| was practically at war with Germany
and that war would necesstate the use
| of cotton on greater scale than ever
| Owners of short contracts began to
show an activity, and finally a cover
ing movement of Importance started
among them which helped materially
in putting the market higher. The
| topmoSt levels were reached toward the
close, when the active months were LAG
to 100 points up from the lowest and
1l9 to 142 points over yesterdays close
NEW YORK.
NEW YORK, February 3.-The an
nouncement that diplomatic relations
with Germany had been broken appar-
emily found the cotton trade fully pre-
pared for such contingency. The
news brought out some further scat
tering liquidation, but the compare
! lively small offerings were readily abb
sorbed, and after an early decline there
was sensational advance in prices.
May contracts. which had sold at
| l4.29 at the opening and declined to
1898, shot up to 1920 in the late trad
| ing, making an advance of $685. per
bale from the low level of the morning
and of $3.50 from the closing price OF
Friday.
Houses with Liverpool connections
were very heavy buyers, their pur-
chases being estimated at close to 1OO,-
900 bales. while there was active buy
ing also by domestic trade interests, to-
| gether with covering.
Realizing caused slight reactions In
| the late trading, with May closing al
1910. but bullish excitement was still
in evidence, and last prices were 80 to
los points above yesterdays final
resented a recovery of s13 a bale from
the low price reached Immediately
after the news of Germanys new sub
marine campaign reached the marke Ell
on Thursday morning. Since then the
trade has been nervously awaiting de-
velopments, believing a break with
Germany inevitable sooner or later. anC
this mornings news brought the re.
action which usually accompanies re.
lief from an uncertainty.
Last prices were within or IL points
of the best, with the buying movemen,
still in progress.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
EFFORTS MADE TO STOP
ANTI-ALIEN MEASURES
News Sent to Legislators OF Ore
gon and Idaho of Serious In
ternational Situation

Representative Macarthur OF Oregon,
yesterday telegraphed TO Speas~r Stan
field, suggesting that ''in view OF the
serious international situation, the
State Department is much concerned
over the anti-alien bill III the oregon
legislature" and recommending that
no action be taken on the bill at this
session of the legislature. while there
may be need for legislation Of this
kind" he telegraphed, cit is not so i'm
perative that it cannot be postponed
until the present grave crisis is passed"
The introducer of the bill in the
Oregon Legislature withdrew The bill
Thursday night.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
LIVE STOCK MARKETS.

CHICAGO, February a. Hogs - Re
seipts. 5000 head; strong; bulk, 11.75a
1875; light, 11.25a11.90: mixed. 11.40a
1905; heavy, 11.45a12.05; rough, Hasa
1850; pigs. 9.25a10.5O.
Cattle-Reciepts, 100 head: steady; ma.
tive beef cattle. 7.75a1200; western steers
7.75a1O.15 stockers and feeders, 6.0Os
$40; cows and heifers, 5.O0a1O.25: calves
10.00a1400.
Sheep-Receipts. 1000 head; strong
wethers, 1o-4oa11.75; ewes, 7.50a10.75
lambs, ~ 00a14.65.
NEW YORK, February 3.-Beeves-Re
ceipts. 594 head; no trading.
Calves-Receipts, 1856 head no trading
Sheep and lambs-Receipts, Ito head
firm; lambs. 1850.
Hogs-Receipts. 1872 head no trading
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
PLENTY OF OYSTERS HERE.
Demand Falls Off With Increase Of
Price at Wharves.

With oysters selling from 20 cents
to 81 and higher a bushel. dealers al
the wharf market report a consIdera-
BILE falling off in the demand. The
supply Of oysters now at the wharf
amounts to several thousand bushels
and will meet the demand for severa
days to come.
The tug James o. Carter was at CO.
lonial Beach yesterday waiting the
moderating of the heavy northerly gale
to bring a tow of oyster boats to this
city. It is expected she will arrive to-
day with two or three boats. and their
cargoes will add about $500 bushels to
the supply.
Those who visit the wharf market
today for their weekly feast of freshly
shucked oysters will have no trouble in
obtaining all and any kind they want.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
Similar Bill in Idaho.

In the Idaho legislature a similar bill
has passed the house and Is pending in
Brady already have urged the Idaho
senate to refrain from action. Senator
Borah received a reply from the Idaho
senate Friday describing the bill in
detail and emphasizing that it does not
mention Japanese specifically.
Secretary Lansing told Senator Borah
that the omission of the name of Japan
does not alter the situation at all, as
the debates in the Idaho house and pub
lie discussion in the state indicate clear
ly that the bill is aimed primarily at
Japanese ownership.
Accordingly. Senator Borah sent more
urgent telegram to the Legislature askin.
adverse action ON the measure.f
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
LONDON STOCK MARKET.

LONDON. February 3.-The stock
market today was generally quiet with
a light business. Shipping and Ameri-
can and Canadian Steel shares were
easy. and American rails were weak
in sympathy with Wall street. Gilt
edged securities and allied stocks gen.
orally were steady.
Money was plentiful and discount
rates were dull. Exchange rates showed
little change.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
NEW YORK COFFEE MARKET.

NEW YORK, February 3.-The news
of a break in diplomatic relations with
Germany had comparatively little eff
feet on coffee prices. The market closed
pra ctically at the low point. showing
net loss of 10 to IA points. Sales.
1880 bags. March. $50; May. S.42;
July, SAB; September, s.57; October,
Sol; December, SOS; January, S.72.
Spot coffee-Unchanged. Cables fea-
tureless.
Brazilian port receipts, $4,000 bags:
Jundiahy receipts. 10000. Santos cleared
1900 for New York.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
COTTONsEED OIL.

NEW YORK, February 3.-Cotton-
seed oil eased off early on the political
news. but later prices rallied and closed
steady. Sales. $500 barrels. Prime
crude. 1857; nominal; prime summer
yellow spot. 1920; February. 1915:
March, 1924; April, 11.89; May, 11.96;
June. 11.90; July and August. 1904;
September, 11.91.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
BY I. A. FLEMING.

For weeks past Wall street, as rep
resented by the dominating financial in
terests of New York city. controlling
In a way, the worlds greatest security
market. has been preparing for eventu-
alities-perhaps for the very happen
ings of the last few days.
And the preparation. in this one re-
spect. at least, was complete-so much
so that when the most sensational hap
pening in the history of the United
States in many years was announced
there was scarcely a furry in market
values.
Had yesterdays developments occur
red three months ago all previous
panics in the history Of the street
would probably have been surpassed IN
the seriousness of the effect. But fnna-
ton has been eliminated from prices.
probably an average OF thirty to nfty
points, and in some instances mucn
more radical recessions were sustained.
And in the liquidation the pubic mas
again been wiped out and given an
other lesson on the evil OF traolng On
margins, big or little.
There are just as many stocks as
there ever were, only they are largely
transferred from the marglned &C
counts of the dear public to the strong
boxes of interests able to carry them
until conditions change for the better;
interests that will play with stocks,
also bringing the short sellers to with
a sharp turn now and then, with much
more profit than the required carrying
charges.
The result of these conditions was
evidenced yesterday. On the announce
ment that another mote was coming
from the White House," Wall street
shivered, sustained inconsequential
price recessions on the average, then
pulled itself together and gave the mar
ket excellent support. whipping the
shorts badly and closing with more or
less sensational advances. 1t was a
great exhibition of latent strength. But
had the high prices Of 1916 prevailed
yesterday morning, one may well
imagine the wreck that would have
resulted-could not have been avoided.
Some Comparisons.
A reference to the high prices of
1916 on some of the stocks may re-
fresh memories. as well as to indicate
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
| Will Sell

r. 200 C. c. to CT. Falls SO Mt 30.
81 600 Wash. RNy. Il Flee. Afe az $50
81 600 metropolitan R.R. SO mt 1857.
81 900 Potomac ConsO1. SO at loZrs.
Is CAPITAL Traction mt 50.
20 Wash. Rwy. d Elec. com. mt 81
80 Wash. Rwy. & Flee. pfd. at S4h..
400 WarhinxtOn Itilities Mt 2Oh.
% Washington Gas at az.
10 Merxenthaler mt 40.
so LanstOn at 711z.
10 District National Bank Mt To-.
10 Continental Trust at 13O.
z National Bank of Washington nj SSS'
IS tany pnrtD Riggs Nat. Bank MT oSo'
10 Munsey Trust mt 95.
100 Bank of Commerce a. Saw. mt los
100 American Paper Can at 3.
], 100 Miller Train Control nj s1z'
10 Gayety Thenter Mt 100.
900 Oklahoma OIL ut IT.
900 Alloys Metals Co. Mt Ia.
100 Buell. Signal and Train at !.
500 Celestine Oil Mt 1.
50 American TeleGraphone.
20 CrandnlI Amusement.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
U. $. TREAsURY srATEMENr.

Condition of the United States Treas
ury yesterday:
Net balance in general fand, $S3.123.-
991.
Total receipts, $2,373,333.
Total payments, $3,065.94
The deficit this fiscal year Is $140.075.-
373, against deficit Of $51,224,712 last
year. exclusive of Panama canal and
public debt transactions.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
| Will Buy

81 900 WASH, Alex. & Mt. Yer. So mt
"a.
SEQ Wash. Rwy. & Flee. 40 mt S21x.
IS Capital Traction at S3k.
% Wash. Rs.y. a. Flee. pfd. mt sly.
50 Washington Gas at si4.
% Georgetown Gas at II.
10 Potomac Savings Bank at 145.
10 Munsey Trust Mt o..
10000 Oklahoma Oil at 10.
so Buell. Signal & Train.
Exclusive of commissions. Subject to
previous acceptance or cancellation.
Bonds plus accrued interest. All exc
eutions for cash.
deliveries for cash at your own bank.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
Other Striking Reversals.

Other striking reversals from the I'M
certainty and hesitation of the first
hour included Industrial Alcohol. which
advanced to 123A after declining to
1111a: Central Leather at an extreme
gain of SA General Motors, s: Re-
public Iron, 8; Texas Company. 10;
Crucible Steel, 8. and Air Brake. .. Cop
pers rose to 3 points. Utah's showing
marked frmneSs, even when other
stocks were manifesting irregulacity.
Relatively rails were less prominent
in the buying and covering movements,
displaying some of yesterdays heavi-
ness. but Reading, New York Central.
Atchison and Northern Pacific finished
the day at substantial advances. Total
sales Of stocks amounted to 1.015.OOO
shares.
Bonds failed to keep pace with the
stock list, all international issues. eX-
cept American-foreign securities. fall
ing to lowest quotations yet reported.
Railway convertibles and industrials
eased l to points. Total sales of bonds
(par value), S3.350,000.
United States bonds were unchanged
on call during the week
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
Inquiries From Abroad.

New inquiries have come into the
market for nearly 100000 tons of steel
rounds, billets and plates for the manu-
facture of war munitions abroad, the
largest new prospective orders coming
from France and Italy.
Atlantic coast shipbuilders have tax
en- orders for four more boats requiring
$1,000 tons of steel and active nego.
tiations continue on eight additional
ships for ocean and lake service. Build
ers on the Pacific coast have secured
several small lots of plates. boiler tubes
and other marine steel, but operations
of the boat builders there have been
curtailed because of inadequate de-
liveries on contracts for steel.
Steel structural work continues active
fabricating shops reporting orders for
nearly 10000 tons for buildings and
manufacturing plant extensions in the
last few days
Sales of pig iron by merchant furnaces
in all sections of the country amounted
to only $4,000 tons.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
Iron and Steel.

The iron and steel trade hesitated
during the week awaiting the outcome
of the crisis between the United States
and Germany. domestic consumers
holding off until the situation cleared.
A strong tone prevailed throughout the
industry, however, and the tendency
OF prices was upward rather than
otherwise. The purchasing power of
both domestic and foreign consumers
Is large and an enormous tonnage of
steel would be readily absorbed by
foreign buyers if the steel were avail
able and there were no impediments
TO ocean shipments.
Merchant car builders have placed
contracts for about $4,000 tons of steel
bars. plates and shapes to cover the
construction of cars, orders for which
were taken in the latter part of jan
uary, but a much larger tonnage Is
still under negotiation. The shops
have taken orders for 700 cars since
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
WEEKLY STATEMENT
OF RESERVE BOARD

The reserve boards statement of the
condition of the reserve banks Febru-
airy shows:
RESOURCES
Gold coin and certificates in vault. .S3O6 1854 900
Gold settlement fund. ........... 212. 961. 900
Gold redemption fund with United
States treasurer ............. 1885, 600
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04

CHOICE GO FARM MORTGAGES FOB SALE.
Interest collected free OF charge.
Titles guaranteed. 30 years experiences
Best of referen- les. Write for list:
INTERSTATE SECURITIES COMPANY.
Minneapolis. MINI.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
WEEKS RANGE OF PRICES.
Corrected to the Close of Business February 8
at the Office of The Evening Star.
Railway and Mi.ceIlaneou. Shares.

closing
and
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
Wages and War Supplies.

A significant commentary on this
condition is to be seen in the bid of
a foreign manufacturer for projectiles
for the United States Navy. Our
American manufacturers have been
quite freely criticised because their
quotations for these shells have been
80 per cent higher than their English
competitors; but the explanation is in
the demand of American workingmen
for ever increasing pay for their labor
and in the higher cost of materials at
home.
II American workingmen must have
higher wages, American consumers
must be prepared to pay the bills
W. S. COUSINS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04

the first of February. making a total Of
5000 orders since the first Of the year,
including 2.192 to be built at the At
toona shops Of the Pennsylvania rail-
road. The buying of motive power,
however. continues the most striking
feature. with orders for 1872 locomotives
taken in the last four or five days. The
largest buying was by the New York
Central-105 engines. The Seabord Air
Line ordered sixteen engines. Rail
mills accepted additional contracts Tor
about 10000 tons for domestic ship
ment, making a total of 100000 tons
ordered for 1918 shipment since jan
uary l.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
All Reports In.

All reports OF the more important
utilities Of Washington have been made
public and investors have had an op-
portunity to digest their contents.
Indications of satisfaction have been
shown in the cases Of the Capital Trac-
ton Company and the Washington Gas
Company. but in neither case was the
exhibition pronounced or over-indica-
tive Of confidence. although investors
in these securities seem to be we'll sat-
isfied with their return and outlook.
The Washington Railway and Elec-
trio Company also showed satisfac-
tory increase in passenger traffic and
earnings and the dividends on present
market values are excellent.
The typesetters, usually among the
best traders on the local exchange, are
in the dumps just az present, despite
reports of excellent business.
Developments Of the day are not par
ticularly encouraging to investors, but
with the enormous Sums of idle money
In the country some employment must
be found for 1t. Washington is In the
same position in this respect, in lesser
degree, as New York and other centers.
Concession in bond prices would un-
Questionably bring an improved demand
for bonds. and moderate investments
will probably be made from time to
broad market is not probability OF
the Immediate future.
No additions have been made to the
trading list of the Washington Stock
Exchange, nor any important steps
taken to. develop business.
Federal Reserve Board Report.
The third annual report of the fed
eral reserve board was sent to Con-
gress yesterday afternoon. The report
dwells at length on the various amend
ments to the reserve law now before
Congress, as vehicles for the strength
ening of the system, in massing some
gional banks Of the system. In order to
facilitate the massing process. the board
has asked an amendment, which financiers
generally consider an admirable plan,
namely, the privilege Of exchanging
federal reserve notes for gold and per-
hitting gold thus acquired to remain
in the hands of federal reserve banks
and to count as part of the reserve
which federal reserve banks are re-
quired to maintain against their notes
In circulation.
Foreign connections would be used
to regulate gold export movements.
According to the report there are
now $1,000 banks in the par collection
system Of the reserve board, about
evenly distributed between member and
non member banks. and the prediction
is made that at no distant date the
whole country will be on par collec-
ton basis-that banks cannot afford
to stay out of the system.
New member banks to the number of
$50 Joined in 1916.
Federal reserve notes, practically
equivalent to gold notes. and protected
by 100 per cent in gold. have been is
sued to the amount Of $3.50 100000
The gross earnings of the system for
1916 were se,15C.eo0, and the expenses
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
Slightly Affects Foreign Exchange.

There was only a slight reflection to-
kets for foreign exchange. Rates on
Germany actually hardened slightly.
with a moderate easing of remittances
to Paris. while sterling held firm.
International bonds were more di-
rectly affected, virtually every issue
underwritten by American bankers for
account of any of the entente allies
registering lowest quotations since
their f1otation. This was considered in
keeping with the trend of events be-
fore the international situation reached
fits more acute stage.
Investment markets will be guided
largely by the course to be taken by
the government at Washington. New
bond issues to meet contingencies are
expected to find ready absorption by
banking institutions and individual In
Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-02-04
Indicates Strong Support.

Prices, more or less cratic of recent
DAYS, were inclined to waver on receipt
of the news of the international crisis,
but rebounded with such strength as to
convey the impression that support had
come from the foremost financial inter-
ests.
1t is generally assumed that the
bankers of the country have prepared,
so far as possible. for any emergency
which may arise from today's action.
The European war has strengthened
the resources of the United States to an
extent never before deemed possible.
In some responsible quarters the belief
was expressed that the rupture would
not mean actual war.
Nothing was heard of any intention
to close the stock exchange or any
other of the leading marts of trade.
In fact. a very large proportion of the
members of the important exchanges
are registered in earnest opposition to
such a course. More than ever, it is
claimed. it is now necessary to main
tain normal relations with other finan-
cial centers. especially the neutral
countries of Europe.
1t was considered yet too early to es-
innate the effect of the break with
Germany upon foreign trade. Gener-
ally, however, it was believed that ex-
ports must necessarily experience seri-
Gus curtailment for a time, but any
such loss would be likely to be neutral
lied by increased home demand.