davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-09-10
Heavy Exports to
Continue Despite
Fall in EXCHANGE
Foreign Trade Expert De.
clares Europe Has PLENTY
Of Money and Will Ruv
Here Despite Premium

Exports will continue OF a l.-..
scale, in spite Of the prevailing lov
rates of exchange Of foreign curren.u
This was statement made to abon.
fifty export managers yesterday hy D
Olney Hough, editor of 1.-The Amer,ca.
Exporter" Mr.. Hough was discuse;eaa
conditions as he found them in Franz
Belgium and Italy. at luncheon mes
ing of the Export Managers Club -.
New York at the Bush Terminal Salss
Building.
"The low exchange rate on foreic
money" he said, "has curtailed on, s-
foreign trade to some extent. but tsa
fact remains that thousands of mar.
chants in France, Belgium and Italv
have money to spend, and must hava
goods if they are to remain IN busi.
ness. 1t is fallacy to consider these
countries as poverty stricken. Thev
have their war mlllionaircs. Just a..
this country has. While some peoola
others made more money than thev
ever had before. The new wealth =
circulating and goods must be provided
for the consumption Of those who have
recently acquired money. Foreign mer-
chants are paying for our goods
through the nose now, but they are
paying, nevertheless. and will contjnua
to pay as long as we can supply mer-
chandise, no matter what the price or
how low the rate Of exchange falls.
1T would De foolish to say that ths
low exchange rate IS not affecting cur
foreign trade. Our exports would be
larger with a more favorable exchange
rate. We can all aid in reestablshjno
a more normal rate through the freer
importation of European goods ard
through the expectation OF American
capital to foreign countries. | mean
that we should invest in foreign Sc.
curities, not only state and municipal
bonds, but in industrial stocks and
bonds Of all kinds"
Much jealousy and personal anmos.
ity exists among all foreign countries
and between individual nations OF Eu-
rope and America, because Of the war,
according to Mr.. Hough. Our return
ing soldiers show their III feeling
against the English French and Bel
gian people. This is the natural re-
suit of failure TO appreciate national
feelings and traits, ne sad. and can
be corrected by effective propaganda.
Mr.. Hough made a plea ior more
aDle men 70 represent America abroad
in diplomatic and consular channels.
He cited number OF Instances tend
ing to prove that in many cases our
ambassadors and consuls abroad care
nothing and know little of business
conditions, and render 10 aid to the
American business man seeking and
conducting foreign trade. He urged
the export managers to lend their in
fuence toward better representation in
foreign countries and the elimination
of politics in the diplomatic and con-
sular services.
New-York tribune., 1919-09-10
Moroccan Merchant
Seeks q. S. Goods
Visits Bush Terminal After
Futile Attempt to Fill
Wants in Paris

Unable to purchase all the mer-
chandlse he needs in Paris, Taher
Rajraii, a department store merchant
of Rabat and other cities in Morocco,
is now on buying trip to this coun-
try. He is said to have made extern
sive purchases from firms represented
in the Bush Terminal Sales Building,
according to a statement issued yes
terday.
Since the conclusion of the war
business has been active in Morocco" i"
said Mr.. Rajraji, "and people are buy
ing unusual amounts of jcv,elry, shoes,
perfumes, clothing, etc, and paying
high prices for them"
Mr.. Rajraj ? formerly bought the
bulk of his merchandise in Paris, but
owing to the war, has come to America
to seek stocks for his big stores. He
also has arranged 20 send to this
country samples Of silverware articles
used ir Morocco, so that they can be
copied by factories here
tie is large exporter of embossed
leather goods, and plans 20 take a
space in the Bush Terminal Sales
Building for their sale.
New-York tribune., 1919-09-10
Offer Union Oil Stock
New Issue TO Be Brought Out
To-day at $40 Share

gomery & Co., Dominick 4 Dominick
and Hayden, Stone g. Co.. will make a
public offering tomorrow of 50S,000
shares of common stock Of the newly
formed Union Oil Company. of Della
ware, at $40 q share. The syndicate
arranged for the purchase Of 1,0OS,O00
will be withdrawn by those who are
purchasing the stock from the COM
pany.
The company was organized on
August 5 for the purpose of acquiring
stock in the Union Oil Company, of
California, and the Columbia Oil Pro-
ducing Company, of California. 1t has
no funded or floating debt and no pre-
ferred stock.
The directors will include the follow
ing: Frederic ". Allen, of Lee, Hig-
dent and general manager of the Union
Oil Company, of California;; Bayard
Dominck, of Dominck & Domnick;
John S. Drum, president of the Saw
ings Union Bank and Trust Company,
OF San Francisco; w. L. S. Griswold,
Charles Hayden, Of Hayden, Stone e.
Co.; Henry Lockhart, jr., vice-presi-
dent of the Goodrich, Lockhart Com
pany; Gates W. McGarrah, president of
Nllt NltCHaNlCS ana 4IcldlS bdIk, Games
II. Perkins, Of Montgomery & Co.; f.
W. Phillips, president Of the Phillips
Oil Company. of Pittsburgh; Samuel T.
Pryor, of the Remington-Arms Union
Metallic Cartridge Company; Charles
II Sabin, president of the Guaranty
Trust Company; c. II. Schlacks, presi-
dent OF the Commonwealth Petroleum
Corporation; ". l.. Stewart, president
Of the Union Oil Company. Of Califor-
NJ. Vauclain president Of the Baldwin
Locomotive Works, and E. P. Whtcomb
president Of the Union Natural Gas
/ Company, of Pittsburgh.
New-York tribune., 1919-09-10
Chandler Motor Pays
Dividend at $24 Rate
Directors Declare Quarterly
Disbursement on Stock of
Sc a Share

Directors of the Chandler Motor Car
Company yesterday declared quar-
terly dividend Of Sc share on the ST.
100000 outstanding stock. The last
preceding quarterly disbursement was
81 share.
The board also adopted a resolution
calling special stockholders meeting
on October 6 to authorize change in
the company's capitalization, recon-
mcnding that the authorized capital of
100000 shares be exchanged for an
authorized capital of 100000 shares of
no par value. 1t was also recon-
mended that 100000 shares of the new
stock be issued to stockholders in ex-
change for the outstanding stock in the
proportion Of three for one.
The directors further recommended
that dividends be inaugurated on the
new stock, when issued, at an annual
rate of SS share. 1t was stated that
the "directors feel that in view of cur
rent and prospective earnings divi
dcnd Of at least Sc share can be main
tanned"
New-York tribune., 1919-09-10
S1LKS--Market
Sh0,cs Signs Of Rerirol

Predictions made in August that
business in the silk goods market
would revive shortly after Labor Day,
yesterday were apparently beginning
to matcrialize. While the volume of
buying was not materially increased,
many buyers arrived and visited the
various salcsrooms. They were pre-
pared to make purchases, but for the
time being devoted their efforts to
"shopping."
There was active buying of taffetas
by local garment makers. The de-
tafcta is unusually heavy, and manu-
facturcrs besieged the larger jobbers
for stocks of the fabric, but as only
a limited quantity of the material was
available sales were limited. Transac-
tions reported generally involved medi-
um priced qualities, selling for am
average of $40 a yard.
Reports received by jobbers and
mills from retail firms throughout the
jobber, who sells annually a large stock
of silk goods to mail order firm, says
that the rural demand is large. The
mail order house is selling an average
OF 100 pctticoats a day to women on
the farms.
Dealers were inclined yesterday to
regard the strike of dye workers in the
Paterson silk mills as the most i'm
portant element in the continued mac
tivity Of the raw silk market. In addi-
ton, the thrown silk plants are far be-
hind in production and that has con-
tributed to the lack of buying by
manufacturers. Mills will not buy the
raw product when they cannot get the
skeins dyed. Despite market that
might be looked upon as favorable
for purchasing, manufacturers cannot
afford to take on large stocks of silk
and have to pay storage charges on it.
Dealers, therefore, are reconciled to a
period Of dulness which will only be
relieved, they feel, when the dye work
ers' strike is settled.
Meanwhile buying continued light in
volume with transactions generally in
volving five and ten bale lots, instead Of
twenty-five and over. which latter figure
ordinarily is regarded as a nominal
order.
Prices are maintained in the face of
light buying because of the busy
Yokohama market. Yesterdays cables
from Japan reported continuation of
the heavy buying there, with Japanese
mills still figuring as the chic. con-
sumers. They are generally confning
themselves to the low grade qualities,
Shinshiu and Kansai, and the better
grades are said to be accommodating in
large stocks. No price changes were
included in the cables received
New-York tribune., 1919-09-10
JeauelIers Seek to Enlarge
Prosperity BY Advertising
Plan Nationwide Campaign to Build Up the
Reputation at Home and Abroad of the Prod
ucts of American Factories and Designers

in neutral nations. There never was
a time when money was so widely
distributed. The high wages, the more
general employment of women, have
given a surplus of money to men and
women who never before in their lives
had anything but bare living out of
life. These people have money to
spend, and do not know how to spend
it. If properly educated to the orna>
mental and intrinsic value of jewelry,
they would respond by largely in
creased purchases. The new prosperity
has given the jewelry trade a sym
pathetic public.
ut is a matter of record that work
ing people bought more diamonds in
this country during the war than any
other class. Diam monds formerly were
bought only by the rich and wellto-do.
Now everybody is wearing them. Ad-
vertising would teach the newly pros
porous working classes a nice dis
elimination and certain connoisseur-
ship in jewels and jewelry.
"By shutting off to a large extent,
importations of jewelry, the war threw
American jewellers upon their own re
sources. This country is rich in
precious gems and precious metals, and
is capable of its own artistic designing.
INO PcIlOu tNSl OitSlCu IiiiCl SHdiiSC
for the building up of the reputation
of American made jewelry both at home
and abroad"
The possibilities of the foreign mar
ket, especially the Latin-American
field, are outside the scope of the
present advertising campaign, but the
local trade expresses the opinion that
something will be done in the near
future to include South America, at
least, in the campaign.
New-York tribune., 1919-09-10

In an effort to keep the jewerly in
dustry on q prosperous basis when
times become more normal and to
prove the intrinsic worth and lasting
value of jewelry, manufacturers have
united and organized 100000 ma
tional advertising campaign. The cam
paign will cover the entire country for
n period of three years, 100000 to be
spent annually in daily newspapers,
weekly publications and magazines of
national circulation.
"The war dealt the jewelry industry
q blow" said Harry E. Freund, manager
of the National Jewelers. Publicity As
sociaton and director Of the publicity
fund, in discussing the campaign. "The
ban on platinum, the restrictions on
gold, the falling off of gem importa-
tions, the preachment that jewelry was
luxury and non-essential were all
seriously felt. The jewellers only man
aged to weather the storm after a
vigorous educational advertising cam
little question that this campaign
played an important part in molding
public opinion and giving the jewellers
the prosperity they now enjoy.
advertising that will keep before
the minds of the masses the beauty
and permanent value of jewerly, the
sentiment that lives with the jewels,
is the best means TO build a greater
prosperity upon the present promising
foundation.
"Thc war has brought unprece-
dented prosperity in this country and
New-York tribune., 1919-09-10
Drop in Prices Soon,
Say Retail Clothiers
Little Profteering in Their
Line, Declare Delegates to
National Convention

CHICAGO Sept. 9.-Delegates to the
convention of the National Association
of Retail Clothiers here to-day pre-
dicted a reduction in the price Of
clothing in the near future.
Its got TO come" said Fred Levy
of Louisville. Lower prices are on
the way and we fellows will sing the
loudest when the change comes. Men
can't be induced 10 part with SIS or
$50 for a business suit. The principal
reason for the present high prices IS
the cost OF labor.
There really is not much profteer-
ing in clothes and what little there
is we intend to stop"
The opening session to-day was at
tended by 500 merchants from every
state in the union. The organization
tended its assistance to Attorney Gem
eral A. Mitchell Palmer and the Senate
investigating committee in their fight
against the high cost of living.
New-York tribune., 1919-09-10
LEATHER-Hide Prices
Rise as Demand Cro1cs

Better buying in the hide market
yesterday at increasing prices led deal
ers to believe that the regular fall
buying season will soon begin. While
the buying is still confined to small
lot purchases the sudden price re-
covery following the 20 per cent slump
of two weeks ago demonstrated the un-
derlying strength of the market. Deal
ers assert that the recent decline in
prices forced out spectators and
enabled tanners to buy at prices where
they may be more certain Of profit on
their leather.
Stocks of hides and skins at the tan
nerics are reported low. Tanners
usually buy hides for the entire wear
between September and December, as
the best grade skins are then obtain
able. During the spring and summer
months long haired fatty hides of
poor quality arc on the market. These
hides have been bought up this year
because Of the unusual demands for
New-York tribune., 1919-09-10
Untitled Steel Orders
Increase $50, ,442 Tons
Bookings at End of August
Largest Reported Since Be-
ginning of Year

An increase Of 53O.442 tons in the
untitled orders of the United States
Steel Corporation during August
brought the total at the close of that
month up to 6,109,lo tons, the largest
yQlume of business on tn, company's
hooks since last January ne increase
in last months bookings was greater
ts!ar had been expected.
The monthly statement of the cor
poration, issued at noon yesterday, dis
closed that since the end Of May, when
orders were at their low point, follow
ing the decline after the signing of
the armistice, there has been recov-
cry of 1926 ,693 tons in untitled orders
Present bookings will be further in
creased by part of the 200 .00O-ton rail
order placed by the government with
thes. corporations subsidiaries, the
Bethlehem Steel Corporation and the
Lackawanna Steel Company. The allo-
cation of this contract by the railroad
administration was announced yester-
day
The decline in the Steel Corporation's s
untitled tonnage in the six months
period from the ending of the war tc
the close of May was 3,S42,353 tons, ant
the recovery in the following three
months has been approximately halt
that amount. 1t was stated in trade
circles that the August increase would
have been greater had it not been
for the conservative policy of the man
agewent last month in accepting new
business owing to the uncertain labor
outlook.
Record untitled orders of 1873 ,Os3
tons were reported by the company on
April 80, 1917, when the war business
was at its peak. After that date there
was steady decline until May 81, last
when bookings were only 1882 ,3lC
New-York tribune., 1919-09-10
TEXTILES-COnrerfer
Buys Cray Goods at Adrance

Extensive purchases OF gray goods
were made yesterday by one of the
largest converters in the textile indus
try. The merchandise, which were Ga
COS Ca basic fabric),' was bought from
mill at Is cents yard. The sig
nificance of the transaction lies in the
fact that the price was u cent yard
above that quoted by spectators, who
for the past three weeks have sold
virtually all the gray goods transferred
in the local market. 1t is now believed
that large speculative stocks have been
consumed, and henceforth mills, which
have refused to enter into competi-
ton with spectators, will shortly dom
mate the gray goods situation.
Apart from the operation of the con-
verter, the market was dull. Few buy
ers were interested in gray goods Of
fcred at az cents d yard by specu-
lators. The continued decline in raw
cotton quotations was looked upon as
the chief factor rctarding business. 1t
was pointed out that with prices for
all classes of cotton goods higher than
they have been since the Civil War
the entire market is highly sensitive
and easily susceptible to any huctua-
tlCns in raw cotton.
number Of out-of-town jobbcrs
sought bleached goods for November
and December delivery, but sales were
held down by their refusal to pay the
prices asked. Mill agents disputed the
assertions of the buyers that quota
tlons were likely to be lowered.
Exporters complained that unfavor-
able exchange rates in Europe con-
tnued detrimental to their business.
Although there is huge demand for
American merchandise, the uncertainty
of foreign money values tends to re-
strict shipments. South American and
Scandinavian countries were regarded
as the most favorable markets. 1t was
argued that merchants Of those nations
were we'll provided with money and col
lcctlons were prompt.
New-York tribune., 1919-09-10
Exchange and Millinery

Computation of import duties on tn.
basis Of present exchange rates oil
foreign money and not on pre-waf
values is expected to result from
movement now being carried on by the
Millinery Chamber of Commerce Of the
United States. At present millinery
imported from France. for instance;
is assessed for duty at the rate OF
5;l826 francs to the dollar. on the pur-
chase price paid in France in francs
whereas the present rate of exchange
is based on S.52 francs to the dollar
Because Of this the importing MILNE.
pays higher rate of duty than ne
should. He can protest and enter lh'o
litigation to recover the difference,
but this system is full OF delays ana
uncertainties.
The Millinery Chamber of Commerce
has taken the matter up wlta tho
Chamber of Commerce Of the Cnited
States and through that body with me
customs division Of the Treasury De-
partment. An early decision IS e1'
pected
New-York tribune., 1919-09-10
COL0RS--Prices Firm,
Despite Prospective In,Dorts

Dealers in dyestufs stated yesterday
that the prospective imports of Ger
man dyestuffs had already been dis
counted by the trade. Although there
nave been some declines in prices of
special colors the list as whole IL
hrm, despite the fact that a six-months, 3,
supply of German vat dyes may be ex-
pec,ed soon: AS none of these dye-
sums can be manufactured in this
country at present their effect on do
.h mesuc business will be slight. Upon
the. .he arrival OF vat colors it is expected
that the acid and direct dyes now nsed
as substitutes will be supplemented
Dealers state that German collars
others than vat dyes will soon be i'm
New-York tribune., 1919-09-10
10 Survy Business
Conditions in Europe

A survey of business conditions in
Europe Will be made by committee
Of three representing the Retail Re-
search Association, an organization to
which more than a score OF leading
American department stores belong,
which sails today on the Celtic
The itinerary includes England,
France and Belgium. The committee
expects to remain abroad six or seven
weeks. Il is expected that the mer-
chants viii do no buying while abroad,
as the trip is merely for IN collection
of IN formation concerning presen.
conditions in Europe
The members Of the committee are:
A. Lincoln Filene, of William Filene's
Cons Company, Boston; A. II. Burch-
iield, of the Joseph Horae Company,
Plttshurg, and c. W. Stcines. OF the
Emporium, san Francisco
New-York tribune., 1919-09-10
Millinery Fur Tax

Women's hats made entirely of fur,
or in which fur is the article of chief
value, are subject only to the fur man
utacturers' tax of 10 per cent, and not
to an additional tax as provided for
millinery under the so-called luxury
tax clause of the revenue bill. accord
ing to bulletin issued yesterday by
the Millinery Chamber of Commerce Of
the United States
Under Section 9O4a the consumer is
to be taxed 10 per cent on the amount
in excess OF $15 on the retail price of
women's hats. Under Ser.ion 900 all
articles of fur are subject to a 10 per
cent tax to be paid by the manufact-
urer. A new ruling holds that in the
case of hats falling under both c.assifi-
cations only the manufacturers fur tax
applies
New-York tribune., 1919-09-10

ported under license system. These
dyestuffs are included in the 80 per
cent option which the Allies hold on
all dyes in Germany. 1t is understood
that as soon as these colors can be
duplicated in commercial quantities in
this country their Importation will be
discontinued. The present sources of
supply for these colors are Eng
and Switzerland, but importatons both
in quality and quantity have been be-
low requirements.
The export demand for domestic
colors displays no signs of slackening.
Bright fast colors arc moving out reg
ularly. Chinoline yellow, bismarck
brown. victoria blue, acid magenta
crystals, direct black and chrome colors
are the chief shades exported.
New-York tribune., 1919-09-10
S3-a-Day Minimum Wage Is
Sought bv Federal Employees

SAN FRANCISCO Sept Represen.
tation of the National Federation OF
Federal Employees in the work of re-
classifying wage scales OF government
employees is to be sought by the third
convention of the organization which
opens here on September s, according
to Secretary Alfred Bcrryessa.
The convention also Will endeavor t"
enlist public support for the bill, In
tfoduced in Congress by Representa-
tive Nolan, of California. 10 fix mini
mum wage of 50 a day for all govern
ment workers, except postal employees.
New-York tribune., 1919-09-10
Business Items
Waist r,an,,fac+,

Waist manufacturers who are mem
bers of the United Waist League of
America soon will use uniform label
on all express packages. The new
label is designed to eliminate nota-
tlons which may give express handlers
a key to the contents of the package
and so reduce temptation to thefts.
The label also is designed to facili
tate the reading Of the consignee's ad-
dress and thus prevent the loss of
packages in transit. Approval of the
American Railway Express Company
has been given the labels.
One hundred and fifteen new mem
bers were added to the Nationl Gar
ment Retailers Association during the
last month. according to an announce
ment made yesterday by John w. Hahn
secretary. The association now MIN,
bers close to 500 members.
New-York tribune., 1919-09-10
u. S. Rubber Go. Files
Capital Increase Certificate

TRENTON, N. j., Sept. 9-The
Unfted States Rubber Company. with
principal office in New Brunswick, and
Offices in Boston and Chicago. to-day
fled certificate with the Secretary of
State increasing the capital stock from
$f20 100000 to 100000, 900 The new
capitalization is composed Of 100000
shares preferred and 100000 common.
xe 800 par value.
The incorporators are William Bar
bour, Of Paterson; William L. Tren-
holm, Edward Simmons, John P. Towns
end and John |. Waterbury, of New
York. New Jersey received a fee of
.$38.000 for filing the certificate. The
company is engaged in the manufact-
pTe and sale of rubber boots and other
rubber products.