davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-09-07
Torrens Title 4
Holder Loses \
Action in Court
California Judge Decides
Buyer Cannot Recover
for Something Not Shown
in Registration Policy

A case that is likely to develop in-
10 one of national interest was de-
cided by Judge Lewis Z. Works, Of
Los Angeles County, last week. The
case in question involves the legality
of the Toyrens law, and " the de-
cision is upheld by the higher court
il will have the effect OF annulling the
Torrens law Of this state.
The Pacific Light & Power Company
purchased right-ofway for its power
lines across land owned by Charles
Bogart. After the power company had
recorded the deed Mr. Bogart placed
his property under the Torrens law.
He failed to mention the interest %
the power company was discoyeredl
certificate of title issued 10 him mads
no reference TO the interest Of the
Pacific Light e. Power Company
this notwith standing the fact that the
power company was in possession of
the land and held a recorded deed for
its right-of-way.
After registering the property Mr.
Bogart sold it. The purchaser ex-
amined the Torrens certificate Of title,
which showed that Mr.. Bogar. owned
the property, free from all claims %
every nature. Later the interest %
the power company was discovered.
and when the power company refused
to remove its poles and wires IN
action was brought 20 cyict I from tie
premises. II was admitted at the
trial that the plaintiff was an inno-
cent purchaser, and had relied en-
trely upon the Torrens certiiica',.
Nevertheless, the court held that ths
plaintiff could not recover.
b. Rey Schauer. who represents the
plaintiff, said: II will appeal the
case. If this decision is upheld by
the Supreme Court il viii have the
effect Of making Torrens certificates
of very questionable value. The Tor
rens law provides that A Torrens GER.
tifcate cannot be questioned. and a
rendering judgment for the defendant
Judge Works has practically nulliiiei
this provision OF the statute and m
effect held the law unconstitutional
Mr.. Schauer further stated that TINS
is the first case, TO his know edge,
which has arisen under ;he TorreAs
law in the United States where ths
courts have been called upon -
decide the effect and value OF Tor
rens certificate.
New-York tribune., 1919-09-07
Knit Goods Producers
Favor Five-Day Week

Many manufacturers Of sweaters and
knitted textiles throughout the coun-
try are in favor Of continuing the
five-day week, inaugurated during the
summer mcnths, through the entire
year. The National Association of
Sweater and Knitted Textile Manu-
facturers ia securing expressions of
opinion on the matter from its lead
ing members. In the associations
most recent bulletin several Of these
opinions are published. All favor the
adoption of a five day working week
with Saturday and Sunday as full
holidays.
"The fivc-day week." says Sidney
Worms, of the Franklin Knitting Mills,
New York, and president Of the Eastern
District Sweater and Knitted Textile
Manufacturers Association. because
of the present labor conditions, seems
to me TO be advantageous because it
gives labor what it wants, that is,
more opportunity for recreation, rest
and development. If universally prac-
tised it would cause the worker to
realize that he was getting some Of
the rest and comfort he is seeking.
From the manufacturers standpoint
the elimination of Saturday. which at
best had only been half day, would
be economical. Workers in the few
hours work on q half day do not pro-
duce as much as they would if the
same time were distributed to the
other days Of the week.
Furthermore. a five day week leaves
the sixth day for overtime and elm
mates night work, which has never
been satisfactory to the manufacturer"
New-York tribune., 1919-09-07
Wholesome
Discomfort

There is a wholesome discomfort
which, born of natural reaching out Tor
better things. moves the world forward.
There is captious discontent which,
born OF ignorance and narrow envious-
ness. sets every man against his neigh
Dor and drags the world down.
The one is constructive; the other
destructive. The one upholds the torch
that lights the way TO higher things;
the other bears the torch that fires the
social edihcc and brings 1t down
cnsrred and broken ruin.
Which of these two kinds OF discon-
tent would these ancestors OF ours de.
clare ours Of to- day TO be if they could
return to life and know?
Next we are TO remember that high
prices are not of themselves an evil:
: IL j. the swift change IN the general
level Of pricos that hurts. The change
effected by the world war came with
hghtning-like velocity. 1t started US to
speeding around III the vicious spiral
Of evcr-rising prices and wages. 1t
has shaken US up. People whose IN
comes did not keep pace and there
were many such-su.fered. 1hey cailed
for relief Wages were advanced to
provide relief, but in many cases. no
sooner were wages raised than prices
took another leap, and the relief ex-
pccted was not. Wages and prices
each hurried after the other IN a mad
race around the ever-rising circle ana
each i'm turn became cause and then ei-
feet. II was a disturbing experience.
II worked mucn injustice. But the dls-
turbancc and the injustice both came
from the rapidity Of the change. ana
not from the fact Of nigh prices. once
everything is adjusted 10 hlgh prices
there Is 10 evil in them. Stabiity OF
prices is important, hut the genera
level is not. Whether high or low, II
is harmless if j. does not cnangc.
What we reasonably may eXpecteln the
matter Of future prices IS that Wnen
the expansion of credits ceases, whlch
Will be at about the time governments
cease borrowing and begin hquIdatlhg
prices will begin to receGe, ana ina,
then there Will be a gradual decline
which will go on for a good many
Ncars. This decline will not be rapid
enough 70 work much injury. And. in
terestjngly enough, the injuries 1t does
inflict will fall largely upon the groups
which benefited by the rise during the
war When prices are rising creditors
and people with fixed or slow changing
incomes suffer. When they are falling
creditors and people with fixed or slow
changing incomes profit. Generally
speaking. others are not seriously af-
fected by either movement. though;
naturally, they are disturbed in mind
by rapid changes. The man who' say.
four wears ago was earning 50 day
and to-day at the same job Is earning
$40 has not been hurt by doubling OF
prices. But he is apt TO feel hurt. lie
is earning twice as mucn IN money as
he was before. why shouldn't he be
able TO buy, if not twice as much, at
Least considerably more in things???
But he can't. and if he is either
thouchtless or ignorant he fails 70 un-
derstand why and is disturbed IN mind:
He thinks something is wrong. and II
something is wrong somebody must be
to blame for H.
New-York tribune., 1919-09-07
LEATHER-Buying Of Upper
Leather ShOics Falling OF

Some dealers in upper leather as
serted yesterday that price reces-
sion may be expected in the near
future as purchasers during the past
two weeks have fallen off, both in
number and volume. The investigation
into prohteering has caused the de-
cline in buying. Prices, dealers said,
would have declined some time ago
were i not for the fact that the fill
ing foreign contracts for leather had
prevented an accumulation OF stocks.
If buying is not resumed before stocks
accumulate, prices will drop it was
said.
Several inquiries for leather have
been received from German and
Austrian houses. While there are no
German buyers in the market as yet.
some are expected to arrive before
long, as the Central European coun-
tries are known to be short of leather.
Inquiries received from German and
Austrian firms were all for large
quantities Of leather goods.
New-York tribune., 1919-09-07
Tanners Protest India's
Export Tax Proposal
Measure, They Say, Would En-
able British Dealers TO I'm.
dersell Americans

Protest against the proposed 10 pei
cent ad valorem export tax on hides
and skins shipped from India has beer
filed with the Department Of State BY
the Tanners Council Of America. In a
letter to the Secretary Of State it Is
pointed out that he expor duy on hides
from India would enable Canadian and
English manufacturers Of leather to
undersell Americans as well as tend to
increase the prices of leather entering
into the manufacture Of shoes, since
America is a large buyer in the Indian
market.
The Tanners Council also protested
that the export license system which
India intends to establish when this
duty on hides becomes effective will
seriously inconvenience American buy
ers and cause trouble and delay in
making shipments. The discrimination
against American tanners would, in the
opinion of several leading men in the
industry, give decided advantage 70
British and Canadian leather manfact-
urers. It is said that Canada coulc
import goatskins at reduction OF
SO to 81 a dozen which would enable
her to export kid leather to the United
States at prices which American tan
ners could not meet.
The Tanners Council has requested
the Department of State to take up
this matter actively with the proper
officials of he British government, with
view to preventing the export duty
being removed by the Indian govern
ment.
New-York tribune., 1919-09-07
July Wool Consumption
Figures Show Slight Increase
Over Those of June

American cloth manufacturers used
54,973,O93 pounds of wool of various
grades during July, or about 5000
pounds more than were used in June,
according to statistics just issued by
the Bureau of Markets of the Depart
ment of Agriculture. The wool con-
sumption on the country has increased
steadily from about 24,OO0,O0O pounds
in February to 29,000.OOO in March,
S9,OOO,OOO in April and 45,000,00O in
May.
The figures show that about 25,O0o,-
900 pounds Of domestic woods were
consumed during July and almost
30 100000 pounds of foreign wools:
Althouhg the total consumption of
wool is less than In July Of last year,
when more than 7O,O000,000 pounds
we're consumed, the consumption of
domestic wool during July month this
year was almost 100000 pounds
greater than July of 1918. Also the
consumption of high grade wools,
three -eights blood and better, was
greater in July Of this year than in
the like period last year. The con-
sumption of pulled wool was less dur
ing July than it was in June oil this
wear.
New-York tribune., 1919-09-07
Profit Making
l. .'PrOftccring''

Alwavs men have sought the highest
markets in which 70 do thclr se4i'hS
and the lowest in which TO 90 tnet
luyinc. This has been true wlth re-
.roct % all groups OF men ana Almost
regardless Of .he nature a. the Soous
g. scrxices sought or oHcien. MINIS
.crs and menual workers, merchants
md mechanics. presidents ana ponce
men. writer's and wrcsticrs, mahu.a ac'-
urnrs. farmers. scnool teachers, doc
TORS. lawvore, every cne, broadly SPEAK
mo. has always followed thls rule.
Nor is there anything unrghteous IN
following it. The instinct when moves
mon 20 FOLLOW II IL natura! instinct
:ud one without which there could Dc
10 human race. 4 IS the most persls-
ten. and dccp-seated instinct wl,h
which the race IS endowed. ana us
roots are deep in the soil OF righteous
ness.
Obcying it under ordinary conditions
is not proGtecring. i Is common
sense. But obeying it unrestrainediy
under certain particular conditions pc
comes prof,eering. i becomes ploht-
cerinc when done in markets that nave
been closed or partially closd by mon
opolization or near monopOHzatloh'
This probably is the correct distinc-
ton. At any rate. il Is the distinction
most authorities accept.
In this country to-day there Is about
as little monoVolization as there ever
has been at any time in any country.
There is no more prchtccrlng now IMAM
there was before the war, no more than
there was 100, 900 or 1000 years ago.
The word is new. but the practice Is
old There always has been some
profiteering. and as long as there are
opportunities there always VIII be.
What there is should be eliminated. as
should also the speculation, boarding
and other vicious practices when are
its props. But the fact to be remem.
bered is that when II all Is eliminated
the general level of the prices Will not
have been materially lowered or .
single dollars worth OF wealth added to
the country's total. Neither vii! the pro
ductior Of goods have been increased,
or the actual cost of living appreclabIy
reduced. This does not mean that
elimination is unimportant. The CON
trary is the case. Elimination IS
highly important. Pro;tccring, even
though il is not extensive enough TO
materially affect the cost OF liNing, Is
"A dangerous evil. 1t sets one man
against another. 1t gives rise to un-
warranted suspicious. Ii furnishes
material for the preacher OF class
hatred. the professional trouble maker
who gets living by misrepresenting
one group to another. by twisting the
truth to make trap for the unin-
formed, by stirring passion and feel
ing.
New-York tribune., 1919-09-07
TEXT1LES-COnrerfers Buy
GRAY Goods From, Stocks

Many firms in the cotton goods mar
kct were closed yesterday. and bust
ness was restricted. Brokers reported
scattering purchases by converters OF
gray goods. most of which came from
stocks held by spectators. Prices re-
mained. on the whole, unchanged from
Fridays quotations, the standard fabric
bringing 10 cents yard.
Underwear manufacturers, in the
face of a growing demand for their
product. especially the light summer
garments, continued their buying of
Nainsook. Mill agents reported that
orders ran largely to pajama checks,
which sold for 23ia cents a yard. Mill
agents feel that when the cotton crop
has been finally acquired by dealers q
more stabilized market in textiles will
result, especially the basis fabrics, gray
goods.
New-York tribune., 1919-09-07
The News of Business
DIMINISHED borrowing down the supply OF CONNER
ca paper accepances in the market last week Coee

DIMINISHED borrowing down the supply OF CONNER
a paper accepnces in the market last week. Coc
ons reported exceedingly good and the shortage
still existing industries automatically reduced the
number Of transactions out Of which bills re
Although bills broad last week. out OF town
banks particularly willing absorb all the
offerings get all the available New
banking institutions despite the easier conditions continued
the market for both bankers accepances and
although occasionally they persuaded to take some parcu
The prevailing rate commercial paper was o per
cent time bills Of unusual merit going at 5 per cent
Morgan Co. the call loans secured
y from per 81 The rate had been
reduced last month
Rates on bankers unchanged follows:
Thirty
Spotd days DAYS ,oays,
Eligible
Eligible 3-i6a! 45-1e@4H ~ @4S-
For delivery thirty days: Eligible member bank bills are
quoted at per cent eligible bank bills at Az and in
eligible bank bills at per cent.
New-York tribune., 1919-09-07
Business Items

Foreign as wefl as domestic furs will
| be placed in the semi-weekly floor sales
which the Metropolitan Fur Exchange
will iraugurate in November Arrange
ments have been made, it was announc-
ed yesterday fer the shipment Of raw
furs Holland, Siberia and other fur
producing countries. Successful sales
have been made by the company, ac-
cording 10 Wolff Cohen, secretary, of
Siberian furs and also several large
shipments OF nutrIa from South Ameri-
ca. A quantity of moles. comics and
goat skins are expected from Holland
and will be placed in the company's
next monthly auction beginning Sep
tember 80.
The United Waist League Of
America will endeavor 10 enlist the
cooperation of resident buyers in stir
ring up interest in National Blouse
Week. November 10 to 10, at special
meeting to be held at the leagues
headquarters on Wednesday. 1t is ex-
pected that a committee of resident
buyers will be appointed to cooperate
with the waist manufacturers and re-
tailers.
Waist manufacturers in fifteen cities
throughout the country will begin dis
tributing literature for blouse week
to 10000 retailers this week.
II. J. Chiesa, Federal Trade Com
missioner, has jus. returned to this
city from Italy. where he has made
study Of commercial and economic
conditions. American manufacturers
and exporters interested in Italian
trade may discuss the situation in
that country with Mr.. Chiesa at the
Bureau of Foreign and Domestic Com
merce. room 733, Customhouse, from
September 70 10, inclusive.
Wenstock. Lubin & Company, San
Francisco retailers, are moviny their
New York office from 900 Fifth Ave
nue. 70 new quarters with the Retail
Research Association at 225 Fifth
Avenue.
A delegation OF six English cotton
manufacturers is now on its way to
this country TO make q three weeks
tour of the American cotton industry.
The visitors are members of the Man
ayers and Overlookers' Association Of
Bolton, England, and are making the
trip under the auspices of Lord Lever
hulme, Mayor of Bolton.
The delegation is especially inter-
ested in technical education and labor
organization and its members have
planned a careful study of those two
subjects as we'll as the methods of
manufacturing and merchandising in
the cotton industry.
The visitors are scheduled TO arrive
in New York about September Il and
will frs: visit the spinning and weav-
ing centres of New England. Later
they are to be taken through the in
dustrial centres of the Southern states.
Elaborate plans for their entertain
ment have been made by a reception
committee comprising some Of the
most prominent cotton manufacturers
and fnanciers in the United States.
New-York tribune., 1919-09-07
~Price Shock" Not H. c.
OF L., Our Real Trouble
Banker Says That People as Whole Are Better Of
Than Ever Before and That 'Profteering''
Adds Practically Nothing to the Prices We Pay

the wage earners' cost Of living at all
no matter how great they are. The
actual cost of living both for him
and every one else may be high when
prices are low. or low when prices are
high. Furthermore, the country as
whole may be prosperous when prices
are either low or high. or vice versa.
Prices are thing apart. The gem
eral level Of prices is determined al
most wholly by the volume Of money
and its credit equivalents outstand-
ing.
The cost of living is determined by
the productivity Of labor, the accessi-
bi,ity of natural resources. the fertil-
ity of the soil and the mental attitude
of the people toward each other and
toward their obligation to pay their
own way. There is n close relation be-
tween general prosperity and low cost
of living, for the one is almost tanta-
mount to the other. but there IS no
necessary close relation between these
things and prices. Usually when
business" having been dull COM
mences to "look up"-that is, to move
in increasing volume-prices advance
but there is no fixed tie between the
two things Commonly we refer 10
high prices as if in fact they did and
of necessity must reflect high actual
cost of living. Indeed. the government
itself does this. and so do many oi our
newspapers and other public prints.
But no such relation exists.
Prices have about doubled since be-
fore the world war, but tn actual cost
Of living in this country has not IN
creased. Princes more than doubled
during our Civil War. but the actual
cost of living Immediately afterward
was at least as low as it had been be-
fore. AS an aside it is an interesting
commentary on our present frame OF
mind to note that the actual cost OF
living has fallen since our Civil War
10 considerably less than half of what
it wac at that time. That is that to-
day we can get for given effort and
labor more than twice as much OF the
necessaries and Injuries of life as our
fathers then could. Yet we complain
and quarrel among ourselves. We in
sist that our cost Of living is prohibi-
lively high and that the other fellow is
to blame for it.
New-York tribune., 1919-09-07
Brooklyn's Home Buyers
Keep Brokers Busy
Corporation Disposes of House
in the MapletOn Park Sec.
ton; Other Sale,

The Realty Trust has sold for he
Artee Realty Corporation the brick
dwelling at l775 Sixty-hfth Street,
Mapieton Park, to Harry koskind.
Samuel Galitzka and j. Lacoy have
sold a two-story one-family house now
in course OF construction az 1914 East
Tenth Street.
o. +. A.ard and j. J. Levcy Company
have sold 1886 East Eighteenth Street,
a two-story frame detached two-family
dwelling, on plot i0xl00. for Frederick
Ruby, general manager, Middle Le-
high Company.
Charles c. Stclle has sold the two
story house at ~ 81. Marks Place fof
a client to Catherine VI. Rudy. who
has occupied the house for many years
as a dancing academy
Walter 5. Ross and G. c. Gretsinger
have sold for Axel J. Larsen the two
family house at 81 Sevonty-e.g ghth
Street
New-York tribune., 1919-09-07
Large Sales of Dresses
Arc Expected This Month

September will be banner month
in wholesale dress sales, according to
statement issued yesterday by David
y. Moscssohn, executive director of
the Associated Dress Industries OF
America.
a survey made of the New York
hotels BY the association, says the
statement. shows more reservations for
out Of town buyers during September
than in any other period this year.
August business throughout the
United States" said Mr.. Mosessohn,
has been even in larger volume than
anticipated b. the most sanguine mer-
chants. In our opinion this is a re-
suit Of the early purchases made in
July.
New-York tribune., 1919-09-07
By A. E. Adams
President. First National Ban

President. First National Bank,
Youngstown, Ohio
IN OUR anxiety to do away with what
We call profiteering We are apt to
forget certain well known facts which
if We arc to preserve our fairness as
individuals and our integrity as a
democracy, it is of first Importance
that We should remember.
We are to-day the most prosperous
people in the world. We are to-day
better off than we ever before have
been. Our actual cost of living-that
is, our cost in terms of human effort
is as low as il ever has been, and pes
sibly lower. 1t is considerably lower
than that of any other people in the
world, considerably lower than IN all
the history of the world 1t ever has
been for any other people in the world.
In a word, though suffering from high
prices, we are not suffering from an
In almost any line days work to-day
will buy as much OF the things we
need and want as il would before the
war, and in many it will buy more.
Certain small groups of people. people
with fixed incomes, people VINO are
creditors and people whose wages or
salaries have not kept step with prices,
have suffered because Of advanced
prices. But the majority Is probably
better off rather than worse; al!
debtors are better OFF and the average
man is at least as well of. The actual
cost Of living for the people OF the
country as whole has not increased.
This is the first fact.
The second is that the advance IN
prices is due not primarily or IN any
appreciablc extent TO rrohteerlng, Out
rather and almost wholly TO war-cre-
a.ed causes for which no one except
the former Emperor of Germany Is 10
blame: due almost wholly TO the de-
mand for products created by the. war
and TO the imitation of credits incident
TO the issuance of great quantities OF
government bonds made necessary by
the war. Wastefulness, extravaganza
and shiftlessncss. OF course. play
part, an important part. But tnese
iailings in the extreme extent 10 Whlch
we suffer from them to-day are sec
ondary rather than first causes. mat
is. they are in this extreme eNten,
first Of all results of high prices anc
wages. Then, of course, they IN turn De
come causes Of Still higher prices, ana
vsrv potent causes.
No one ~ all familiar with such
matters would claim that as much as
Z ner cent Of the advance is traceabie
IN nrottecring. Indeed. il is an abso-
lutte certainty that more than 80 per
cent of it is due TO these other causes.
"Prohtcering" is a new word. |,
does not appear in the dictionaries OF
five years ago, and does not mean eX-
actlv the same thing 70 any two peo-
rle who use il, nevertheless it has IN
broad sense a cutie definite meaning.