davidaulloa/AmericanStories huggingface dataset:
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1919-12-17
FARMER Of AMERICA
LEADS WHOLE WORLD
IN CROP PRODUCTION

| WASHINGTON. Dec. 1.-THE AM
erican farmer leads the world in in
dividual production of crops, Secre-
tary Houston, of the department of
agriculture. asserted in his annual re-
port. While countries such as Bel
gium under intensive farming get
higher acreage yield, he said. taking
both acreage and yield per acre into
account, the American agriculturist
produces two and a half times as much
as his Belgian and German rivals, 2.3
lines as much as the British farmer.
3.2 times as much as the French and
-'lore than six times as much as the
Italian.
The result of this and of the AM
r:can farmers war work is shown in
tn- 1N19 American crop production.
placed NJ three times greater in val
nc than the average annual output
during the five year period preceding
The European war. The aggregate
value of all crops this year is placed
at $15,S73.0O0 900, as compared to
$14.222, 900. 900 in 1918 and an aver
age OF s5.s2s, 100000 during the five
year period.
Live stock on farms this year was
figured at $500, 100000 as against
SO. $4,000. 900 in 1918.
The average yield for all. crops for
the decade ending in 1918 is about 16
per cent greater than the average for
the decade ending with 1890, the re-
port said. The average rate of in
crease for the last twenty-five years
is about one-half of one per cent a
year.
Estimates in the report put the 1919
wheat production at 91S,471,000 BUSH
els, corn at 1910, 900 bushels Cot
ton is expected to reach 1886, 600 |
bales and tobacco 6,553.000 |
pounds.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1919-12-17
Freedom Of Actor, Inn
perative and Boun n d
Feet Disappearing.

I. Basket 6ail, tennis and jumping
the rope are curing China of the
kge-old. oruei custom ofbinding the
feet Of her daughters. These Amer
iean sports are proving just as eff
feacious in doing away with that
evil ss Is the law OF the Chinese re-
public against the practice of foot
binding. In many instances it is
even more eficacious for there can
be no basket bali, tennis or rope
jumping for the girl with bound
feet and since the new woman" of
China. even in her girlhood, insists
uton participating in American
sports the bouAd foot must go.
All kinds of American sports are
popular in young China and in
other Oriental countries, according
to John w. Wood. Foreign Secre-
tary to the Board Of Missions of
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1919-12-17
Arnerfc an
Playground
One Of Our
Most Valued
Experts TO
the Orient,
Says thfs
Observer

the Episcopal Church, who recently
returned from nine-months' tour
of the Far East in connection with
the Episcopal Nationwide CAM
paign. In fact, Mr.. Wood ranks the
American playground as one OF our
most important exports" to the
Orient. He hopes il will be "ex-
ported" in still larger quantities
through the Nation Wide Cam
paign as that campaign seeks TO
raise more than $42, 100000 to
strengthen all phases of Episcopal
activities at home and abroad.
Quietly but systematically for
the past twenty years." he said, I'VE
have been exporting to the Orient
that distinctly American institution,
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1919-12-17

the playground: ard now see
Chinese Ernpxe is dSttcd wits
these open a; places. One 1-s'
easily estimate the extent vf the
benefits future generst:ors N fi.s
Orient wili derive from .t6s in
fusion of the spirit of free, open
air America into tbe youth a.
China.
"In the one detail, tor :n-,fas-e. Of
bin ling the feet of Cnisese girls.
orr Fairgrounds are working rev
oiuhcn. There can be DO tsskst
ball or tennis or rope Jumping for
q girl with bound fee., AID since
the Chinese girl insists aoon taking
part in sports. the binding up Of
the feet is bound to GO"
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1919-12-17

will be resumed in the state of Wash
ingtoh wednesday. Six thousand men
who struck November 1 will receive
an increase of II per cent pending the
final settlement by the commission
which will be appointed by President
Wilson. This was decided at con-
ference of representatives OF the min
ers' unions.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1919-12-17

Speaking of drinks two gallons of
vinegar. six ounces of picrlc acid and
a can of lye makes an excellent mix
ture-with lots OF power to it. A
handful of. cactus thorns or porcupine
quills may be added where little ex-
ira scratch" Is desired.
New-York tribune., 1919-03-01
Discount on Sterling
Holds Back Arbitrage
Resumption of Business De.
pends on Solving Foreign
Exchange Problem

Resumption of arbitrage business in
stocks and bonds between New York
and London is chiefly dependent on the
settlement of the foreign exchange
problem at the peace conference, in
view Of Wall Street brokers interested
in this business. Arbtrage business
represents the buying in one market
where the price is lower, as compared
with the quotation In another market
and selling in the market where the
price is higher. Eventually this trade
will tend to equalize the price in the
two markets.
1t was explained yesterday that with
rates for sterling quoted where they
are now, the rate yesterday showing q
discount of approximately II cents on
the English pound, English brokers do
not want to resume business. At yes
terday's quotation an English pound
was worth S47575, whereas the par
value Of the pound is $48665, a dis
count Of 1000 cents.
When the busincsa in Amcr',,n
stocks IS finally resumed in London il
is not generally expected that it viii
be to a large extent. 1t would not be
surprising if some plan were adopted
1or the gradual widening out Of the
list Of American securities. One
brokerage house yesterday carried tho
notation 20 its customers that there
may soon be temporary resumption Of
this class Of business on the daily set
tlement basis. When this trading was
allowed prior to the war, the settle
ment was made every two weeks
New-York tribune., 1919-03-01
Domination Charged
I'm Old New Haven
Arguments to Show Cause Why
Limited" Receiver Should
Not Be Named

Charges that the old board of direc-
tors of the New York, New Haven &
Hartford Railroad was dominated bv
the late J. P. Morgan, William Rookie
feller and George Mccullough Miller
were made yesterday before Judge
Martin I. Manton in the United States
District Court by counsel for com
mlttee representing more than 1900
stockholders, owning $1,000 shares.
The occasion was the beginning of
arguments to show cause why n
limited" receiver should not be
appointed for the property, and whv
large sums Of money spent by tho
ola management should not be re-
covered.
The answer filed in behalf of The
company stated that at a meeting Of
the board at New Haven in October.
l9l6, where more than 1000 900 shares
of the stock were represented. the
question of suing the former manage
ment IN relation to the matters re-
TERED to in the present action was
submitted and it was decided not to
brlng such suit. Arguing for the
dNefendant, N former Judge Morgan ].
OBrien contended that the action Of
the majority stockholders was binding
on all. 's
Judge Manton will make a decision
on the matters in stockbolders' suit
within few days.
New-York tribune., 1919-03-01
General Cigar Co.'s Net
Profits Increase i'm 1919

The annual report of the General
Cigar Company, Inc. for 1918 discloses
gross earnings Of $5,893,956 compared
with $4,52o,578 for 1917, an increase
of s1,373i37s. After expenses, includ-
ing reserve set aside for taxes
amounting to $4,310,S71, net was ST.
683.0S5 Other income Of $5OO,685 was
added to this amount, making a gross
income Of $2,083,770, from which 1928.
883 in loan interest was deducted, lcav-
ing net profits Of S1,659887 Holders
of the preferred stock shared $3.50. 900
in dividends, the same amount paid
during the year before. Balance Of
81 ,309 1856 was the equivalent of S723
share earned on the $18,10400O com
mon stock. In 1917 the company
earned S5.47 share.
Dividends on the common stock to-
tailed $724, ,16O. The surplus of $685..
727 was added to previous balance Of
S4,0S1 1853, bringing the profit and loss
surplus to $4667 080.
New-York tribune., 1919-03-01
Form Protective
Committees for
marlborough Con.
Bankers Representing Stock
and Bond Interests Act as
Result of Failure to
Pay [. II. T. Dividends

The first definite step toward reor-
ganization of the Interborough Consoi-
dated Corporation, which controls the
city's subway and elevated lines in
Manhattan, was taken yesterday when
two protective committees, one repre-
senting the bondholders and the other
the stockholders, were formed.
Soon after the announcement of the
personnel of the bondholders' commit
tee, headed by Colonel Grayson M. P
Murphy, vice president of the Guaranty
Trust Company, it became known that
E. V. r. Thayer, president of the Chase
National Bank, would be chairman of
the group formed to protect the inter
ests of the stockholders Associated
with Mr.. Thaver are Harry Bronner.
Mortimer NJ. Buekhet president Of the
New York Trust Companyi Charles
Hayden, Of Hayden, Stone & Co., and
II, s. Marstoh, president Of the Farm
ere Loan and Trust Company.
Associated with Mr. Murphy on the
bond holders committee areI John Me
liuEh president Of the Meehahea'
Me ais National hank, Charles A, Pea
body. president Of tha Mutual Life IN.
sguranee cempany Charlea s, Sargent,
tru Of kidder, Peabody & Co,
James a, Stillman. chairman of the
board of directors Of the National City
Bank, and Frederick Strauss, of ], &
w, Seligman g. Co. Speaking for the
committee yesterday, Colonel Murphy
said;
"The committee has been formed not
only to protect the interests of tho Sc
curities that it represents but also to
endeavor to assist in strengthening out
situation which threatens great
number of investors and which may
seriously affect the credit or the city
and state. The committee has no pre-
conceived plans. A thorough investi
cation of the situation will be made at
once and the action Of the committee
w'll depend on the facts developed by
that Investigations"
The formation of both committees
was preciptated by the failure Of the
lnteerborough Rapid Transit directors
earlier in the week to take action on
the quarterly dividend which since the
early part of 1913 has been at an an
nual rate Of 10 per cent
New-York tribune., 1919-03-01
Norfolk & Western
Seeks sl08, ,43l,O00
Capital Increase
Will Ask Stockholders TO
Authorize Big Convertible
Bond Issue to Provide for
Future Financial Needs

Arrangements are being made bv
the Norfolk & Western Railway to
provide for its future financial re-
quirements through the authorization
of S108 431, 900 new bonds. which are
to be convertible into the common
stock OF the company. In accordance
with the plan of the directors stock
holders will be asked to authorize the
proposed capital increase at the an
nual meeting on April 10 next. To
provide the necessary stock for the
conversion of the bonds authority will
also be requested at that time to In
crease the common stock by sloO,-
100000, which will bring the total
issue UP to $275,OOO0oo.
The difference between the proposed
stock Increase and the bond issue Ia
accounted for by the fact that $s,boo.-
600 convertible lO.sp year par cant
bonds, authorized IN 1900. viii he con
Verted into the new honda IA tina
circular to atoekholders issued pestep-
hhy no mention was made ~ to what
rate hese honda viii carry. 1t was
stated that this would he determined
by the condition of tho investment
market,
1t is not the purpose of the Norfolk
q western to issue any of the new
bonds in the near future, according
to New York director Of the com
pany lie said that the authorizn-
ton of more than $l00,oO0,O0o would
place the road in an excellent posi-
ton to take up the matter OF new
financing whom that became necessary.
Ihe total fuadcd debt Of the road now
amounts to $9i,55l 800, of which
Sl,o2o,o00 Is held in the treasury.
New-York tribune., 1919-03-01
No More Room

An unusual situation has been Great
ed IN Wall Street in Baldwin common
took. Pennsylvania has a stock tax
or S2 hundred shares which Is
charged every time stock Ia trans
erred. In order to avoid the payment
u this tax the stock is made a good
delivery through the affxing power of
attorney. This 10 left blank by the last
owner, 50 that a new purchaser has
only to fill 1T in, atfix new power of
alcorhey ard the certificate then passes
on TO tho new onwcr. Some of the
mares Of common stock have been NOV
ne around tho Street for years, and in
instances 40 many powers of attorney
lave been stamped on them that there
no room for additions. When such
= situation Is reached tho only recourse
to hav, the stock transferred and
get . new certificate.
New-York tribune., 1919-03-01
Dividends d s
Regular Declarations
Cities Service Company

January gross earnings Of the Cities
Service Company were sl,853 .5os. com
pared with s203l .4G2 for the CORE
spending period OF the year before Ex.
penses OF S6i .727 were deducted, leav-
Ing a net Of si,79l.87i Debenture In
terest amounted to sl0s 002. Preferred
dividends we're $3.50 800. against 1892
S0S for the Same month In 1917. Net
10 common stock was S1,344.060.
New-York tribune., 1919-03-01
That is the glorious circle Of

That is the glorious circle Of
political economy. Human desires
are Unsuitable, but demand Is not.
For demand" as used by econo-
mists, means not only desire, but
the ability to purchase what is de-
sired. A tramp may genuinely de-
sire the diamonds in a jewellers
window, but that does not interest
the jeweller, save as something to
notify the police about. Demand
gives rise to production. Production
gives rise to employment. Employ
ment begets purchasing power. Pur-
chasing power increases demand.
That was the spiral set going by
war. Is there no way to keep it
going in peace?
New-York tribune., 1919-03-01
Baldwin Holders on a Junket

Several Now York owners of common
stock OF the Baldwin Locomotive Works
VIII attend the annual meeting which
IL IL, to De held in Philadelphia next
Thursday. 1t is understood that the
purpose of the visit of the New York
stockholders is to ask questions rela-
tive to the showing which the company
MADE IN the annual report for the last
nsca' year Some questions, it is said,
wlll be asked regarding the large
"writeotfs" which the management
made in the last year. New York hold
ers who attend the meeting will act
individually
New-York tribune., 1919-03-01
Business Suspensions

Commercial failures this week In the
United States, ~ reported by X. G.
Dun Co, sre 1856, against iD2 last
week. iSf ths preceding week and 254
ths corresponding week last year. Fail
ures In Canada number II, against IS
last week, II the preceding week and
n last year. OF failures this week In
the United States ii we're In the East,
zb gouth, 90 West and 2D In the Pacific
Etatss snd 80 reported liabilities Of
$1,000 OK more. against 67 LAST week.
New-York tribune., 1919-03-01
Wall Street Items

The New York Stock Exchange firm
of Locke. Hodges & Co. has been dis
solved due to the death of Robert W.
Locke and will be succeeded by the new
firm of Hodges. Dunham & Co., who
will continue general business in
stock and bond securities.
e. D. Winkworth and Roland Hazard
have been elected directors Of the By
products Coke Corporation. succeeding
the late John G. Hazard and E. c.
Withcrby. c. D. Caldwell was elected
an additional vice-prcsdent and Don
aid ). Boynton assistant secretary.
r. NJ. G'dney. assistant agent Of the
Federal Reserve Bank Of New York.
has been appointed manager Of the new
Buffalo branch OF the local bank, which
will be opened In the course of the
next month or two
New-York tribune., 1919-03-01
Wall street Wants 10 Know

Wall Street looks to the annual meet
ing OF Baldwin as n possible opportuni-
~ to Learn whether Mdvnle and Du
Pont interests have bought into the
company, ~ has been reported from
time to time There is "A possibility. il
was said, chat such stock, If there have
been sales to those interests. has been
transferred md that it will show up Mt
the annual meeting.
New-York tribune., 1919-03-01
Hog Price Continued

WASHINGTON. Feb. 2S.-The pres-
ent minimum price Of $3.50 n hundred
pounds for hogs, which expires at mid
night tonight. will be continued until
decision Is made by President Wilson
regarding the existing cmbarroes on
pork affecting ncutrals and other conn
tries. This gtatemcn. was made to-day
by officals Of the food administration.
New-York tribune., 1919-03-01
n-M ark & ts-znv stm ents
Another Embargo Lifted

p USlNESS as usual for those
~ who steer sightseers has be-
gun. The New ! ork Stock Ex-
change has raised its ban on
visitors. The art Of bartering in
securities is once more on public
exhibit. Inquisitive sojourners,
"anxious to see where fortunes
are made" can now gain en-
trance to the balcony on any
trading day if introduced by a
floor member. The war safe
guards in Wall Street have thus
come to an end.
New-York tribune., 1919-03-01
The Dollar in Foreign Exchange

The decline in French exchange, be-
gun on Thursday, went further yester-
day, when cable francs went to 5.46A
compared with b.45la the preceding
day. Dealings in Paris exchange in
this market approximated 100000, 900
francs, brokers estimated.
Other exchanges moved narrowly
and rates were generally steady.
Closing rates yesterday, compared
with q week ago. follow:
New-York tribune., 1919-03-01
The Flow nf Silxer

American silver continues to flow to
the Far East. Yesterday the Philadel-
phia Mint shipped $4,000. 900 Of bar sil-
YER to India on government ncconnt
Next week the New York ASSAY office
will ship 81 500 900. The silver Is OBJ
tainod from melting down silver dol
New-York tribune., 1919-03-01
RelevantCO1nment
$475,000,000 Divided bv Threa

Three leading American rubber man.
uuffaacturing companies divided S475,O0
Qyo W OF business in 1918, according to a
y, al Street estimate. The United
States Rubber Company did 1920 900
600, the Goodyear S131 200. 600 and the
Goodrich $124,O00, 900
New-York tribune., 1919-03-01
AMERICAN HIDE xrr.r,p,, cn

Coupon No. 80. due March !. 1919. on IN,
First Mortsagc Bonds OF the Americar
itld" Leather Company. win be paid or
and after March !. by tho Equitable Trun
Company OF New York. 35-ST Wall Street
Now York City.
GEORGE A. HILL. Treauursr
New-York tribune., 1919-03-01

The paradox Of the present day
is that business should prosper wnen
the world is destroying and langu;sn
when destruction has ceased. Dur.
ing the war we produced at an enor-
nous pace. Everybody was en-
rloyed The question that agit.tes
economists is this: Why should such
a pace Of business go on only In
time Of war? Is there any way of
perpetuating it? The problem is
thus stated in "The Journal Of
Political Economy: "Now that ,hc
war demand has fallen off, it see.as
to most people obvious that pro-
duction cannot go on at it's former
pace. IF it did, where would we
find our market?' they ask. A fan
damental fallacy turks in this
analysis. Production creates de-
mand in ordinary times. 1t is an
old maxim of political economy tina.
wants are Unsuitable. This is still
true, even in country where the
average of productive output is as
high as in our own. Not more thnn
10 per cent Of the families Of the
United States have incomes %
$4,000 or more. With such situa
ton there is still an immense
amount Of unsatisfied demand which
depends for it's appearance in the
actual market upon nothing more
than the opportunity to work and
produce. To say that producti,n
lags because demand is not for+h-
coming starts with the assumption
that production has already Jagged
and 80 has reduced demand"
New-York tribune., 1919-03-01
TO THE STOCKHOLDERS OF THE
BROOKLYN RAPID TRANSIT COMPANY:

lhe undersigned Committee is acting in behalf
OF OF Stockholders of the Brooklyn Rapid Transit
2, 1919.
Important developments affecting the Com
Pany are following each other rapidly. Proceedings
have been instituted to foreclose it's mortgage
securing the Consolidated and Refunding Bonds as
well as to toreclose the mortgages securing the
$6o,ooo,ooo of bonds of the New York Municipal
Railway Corporation, $57 900 of which are
owned by the Brooklyn Rapid Transit Company
and pledged as security for equal amount of it's
collateral trust notes, which proceedings emphasize
the Importance of the cooperation of as large
number of the stockholders as possible for their
mutual protection.
The Committee has limited to March g. 1919.
at 3 P. NJ, the time within which stock may be
deposited under said agreement.
TILE nf RsT 6sPqsa5y Gnyp is MERcAN re
Broadway, New York City, and it's Sub-Depositary
Peoples TRUST COMPANY, of 1s1 Montague
also from the Committees Secretary copes Mo of ths
deposit agreement may be had
Transferable certificates of deposit are issued for
all shares deposited which certificates have been
listed on the New York Stock Exchange and can,
therefore, be sold and transferred with the same
facility mdeposited certificates of stock
The assignment on the back of all certificates
of stock presented for deposit must be executed
in blank dated and properly Witnessed In order
to protect the Committee against unauthorized
transfers the endorsement must be guaranteed by
member Of the New York Stock Exchange. bv a
bank or trust company in the City of New York,
or by bank trust company having a CORE
spondent in that city. The requisite New York
State and Federal transfer stamps Cor funds to
cover the same at the rate of four (4) cents per
share) must be attached to or accompany all de-
posted shares.
Dated February 27 1919
ALBERT H wIGG1N Chairman
CHARLES A. BOODY,
FREDERICK H. ECKER
SEWARD PROSSER
GALEN l. STONE,
FREDERICK STRAUSS.
EVERETT B. SWEEZY,
CHELLlS A. AUSTIN Secretary ee'
Broadway New York
RUSHMORE BlSBEE & STERN Wv N'
81 Broadway, New
CULLEN G. DYKMAN Counsel.
t77 Montague Street, BROOKLYN
MERCANTILE TRUST & DEPOSIT COMPANY
lis Broadway New York. Depositarx
PEOPLES TRUST COMPANY. r'''
lSl Montague Street. BROOKLYN
Sub-Depositary.
New-York tribune., 1919-03-01

Nominal.
Below is given the current exchange
value Of foreign money in dollars and
cents, together with the intrinsic gold
parity. as calculated by tho United
States Mint:
New-York tribune., 1919-03-01

II really does appeal to ones common
sense as being preposterous that the
laborcr should be thoroughly employed
at good wages and should therefore en-
JOY "A high standard of living when the
nation is wasting billions upon war, and
should find it impossible to secure en-
ployment and maintain that standard
when the waste Of products has ceased.
David Friday.
The market Is now discounting en-
larged commercial activity a few months
hence.-Shonnard. Mills &c Co.
After sojourn IN the clouds for four
years we nre coming down to earth
Clark, Childs C Co.
Tho unhampercd operation OF tho
law Of supply and demand Ia tho best
price regulator that could bo dovised.---
Business Digest.
New-York tribune., 1919-03-01
Finance . Economics

Federal Reserve banks on commercial
paper for all periods up to ninety days:
New-York tribune., 1919-03-01

Sub-Treasury. -- Tho Sub-Treasury
gained $1,3l4,00O from the banks on
Thursday.
Silver.--London, 47& d, unchanged;
New York, 1Ol 1sc, unchanged; Mexican
dollars, 7Thc. unchanged.
New-York tribune., 1919-03-01
Money and Credit

renewal Of frmness was manifest
in yesterdays call loan market. While
loans opened and were renewed at 6H
per cent. Q per cent was reached and
maintained In the late afternoon.
Time money 10 quoted at 6M@5%
per cent for all industrial collater raj
loans, a little being loaned at 5N per
cent. Mixed collateral loans can be
had for IN per cent, but tho demand
In light.
Ruling rates for money yesterday.
compared with year ago, follow:
Yesterday. Year ago.
Per cent Per cent.
Call money:
On mixed collateral 6Ia 6N
On indus. collateral 8 -
Time money tmixcd collateral).
Sixty days ....... 6H0BA 9
Ninety days ...... 6Ia@5M Q
Four months ...... 5H0534 8
Five TO six months 5H053a 6
Discount Rates.--Thc following table
gives the current rates Of the twelve
New-York tribune., 1919-03-01
COI'rONs
American Telephone & Telegraph Co.

WI Vf VVfIt VOId Bondo
coupons from these bonds payable by
he'r terms on March /. 1919. az the ofics
or agency OF the Company In New York or
N Boston Win be paid In Now York by the
Bankers Trust Company. Id Wall Street.
G. d. MILNE. Treasurer