davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
BUSINESS OUTLOOK
GROWING BETTER
Optimistic View of the Fu-
ture Expressed by
Trade Experts.
TALK OF HIGHER PRICES

Special Dispatch TO The Star.
NEW YORK. May 24-The week
found growing optimism in bust
ness generally. but the optimism APP
plies more to the future than to the
present.
A moderate business is reported in
various departments of the steel and
iron trades from day to day. but no
For some goods however the demand
is in excess of the rate of production.
Hence manufacturers have refused
orders and are talking Of higher
prices. On the other hand slight con-
cessiOns are noted in a few isolate
ing more interest regarding future
requirements. inquiries being received
for third quarter delivery. 1t is gem
orally agreed that the many orders
held up for SO long by the war and
price settlement cannot
be held back much longer
Business in copper has been much
less active. but sellers remain firm in
their view and there is practically
nothing available under 1872 for
prompt delivery and 16$4 for June
July. One agency is said to be asking
II for October. 1t is pointed out that
because of the extremely large sales
early in the month the deliveries in
reductions i'll accumulated stocks.
and there seems to be no intention
among producers to increase the out
put.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
EXPORT TRADE is VERY LARGE,
BUT IMPORTS ARE LIGHT
Biz Balance In Our Favor Demoralizes
j Foreign Exchange Market-General
Grist of Financial News.

ton.
Reports are that the company will
increase the dividend rate on the
stock, which for the last three years
has been maintained at per cent.
Afraid to Take Profits.
Big income and excess profits are
given by a market authority as a
reason why big traders on Wall
street will not cash in and take their
profits. Better give it to the govern
ment. in large part. than lose it all.
Liberty Bonds Strong.
All issues of liberty bonds have
shown good improvement during the
past week. Longer maturities are
favored with investors.
During the current week we will
probably know the exact total of the
victory liberty loan subscriptions, and
it is possible that the last loan will
be listed on the New York Stock Elk
change. although the adjournment
after Thursday may delay the OPEN
ing of the market for this issue until
Monday of next week.
Bank Clearings Large.
The average daily bank clearings
for the month of May to date are
given as s1,10e.s29.00O. as compared
with s951.051 900 in 1918 and $685.
955,000 in 1917.
Seventy-three advances as against
seventeen concessions in the COM
modify price list show that the high
cost of living is still in the as
tendency.
The Steel Trade,
The Iron Age says:
THE better tone in pig iron is re-
f1ected in steel The government has
made no award of the 100000 tons of
rails for which it made inquiry, but
wide variations are reported in the
quotations submitted. The leading
interest is said to have named $45 on
Besemer and SAT on open-hearth
rail, against which four Independent
rail mills are mentioned as quoting
higher. one asking SIS and $57
"A new note is the Willingness of
some consumers now to enter into
contracts for the third quarter. Pro-
lection against price declines are in
most instances refused.
THE most striking cut in steel.
changeable, however, to securing ex
port trade, was in 5000 tons of plates
for locomotives for Italy. A large
proportion of the business was placed
among four companies at Pittsburgh,
or 50 per ton below the domestic level.
One company took a portion of the or
der at a price which nets it 2.62c., mill.
An exporter has received a quotation
of 2.45c. on 1900 tons of plates for
China.
"Other price concessions on steel
products are relatively unimportant,
consisting mainly of waving of GER
tain extras. though 10000 tons of
rails for the far east has been placed
at price less than the $55-$57 scale
recently quoted on export inquiries"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
japanese in Brazil After Commerce

RIO JANEIRO. Friday. May 23.-Dr.
Yamashina, vice president of the
Toxic Chamber of Commerce. has ar
rived here in the interests Of Japanese
commerce in Brazil He was accom-
panied by two secretaries Of the
Toxic chamber.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
The Prize Subscription.

According to announcement by the
Guaranty Trust Company of New
York. its subscription to the victory
liberty loan for itself and customers
amounted to $124.407,750 at the close
filing final reports with the federal
reserve bank. This is the largest
subscription made known to date by
any bank or trust company in the
country. "--
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
Silver Value Doubles.

The present prices for silver COM
pare with SIS cents an ounce last year
and So cents before the war. In Sep
TENDER. 1917. the price touched s1.0S
an ounce. The Pittman act had suf-
ficient influence to hold the price sta
tionary around S1.01 to S1.01b until
recently. when the demand from
China and Japan. as we'll as from
India. started silver on another ad-
vance.
The production of the white metal
10 far below the average before the
war. the estimated 1918 yield being
1868 900 ounces. against 23,265,20
ounces in 1914.
1t would seem as il the metal would
continue to have a ready sale above
a dollar an ounce for an unlimited
period
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
Greet Closing With Cheers.

Members of the New York Stock
Exchange greeted the announcement
that the exchange would close from
next Thursday until Monday morn
ing with loud cheers. After fifty
days of a million shares every day,
even the fat commissions are not in
ducement enough to keep men at
work when the chance for three
days rest for themselves and an OPP
portunity for clerical help to catch
up with the market offered as a lure
to rest and recreation
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
IRON AND STEEL Brisk:
OTHER METALS FIRM

NEW YORK, May 24.-The past
weep has seen what producers consider
a healthy improvement in the iron and
steel industry. From a market point
of view there has been material gain
since the industrial board relinquished
it's control over the industry The
most hopeful sign seen here is the in
crease in the number of orders for
steel and iron products. In steel there
is said to be brisk demand for bars.
sheets, wire products and oil country
goods. Structural steel is picking up
and the April bookings amount to
43,S00 tons, or 2412 per cent of the
country's total, compared with 171s in
March and much smaller totals in Feb
ruary and January.
Improvement in Pig Iron.
The pig iron situation is reported to
be considerably improved. The de-
mand from consumers who now no
longer look for lower prices in the
immediate future has picked up some
what and in addition there are many
more inquiries calling for delivery in
the second half of the current year.
The coke market is stronger on de-
creased production and the consump-
ton is almost up to the output. Prices
though there are a few isolated in
stances where iron prices have been
shaded.
Less Demand for Copper.
The demand for copper during the
last two or three days has been reported
less. Prices are still Arm, however. and
producers and sellers are confident that
tho market will improve before long
The range today is around 16h to 16A
cents per pound. Reports from eighteen
leading copper companies place the
April output at 90.520,000 pounds, COM
pared with 93.244.0 pounds in March.
An Improvement in the export situation
is expected directly after peace is signed.
Other Metals Firm.
The lead market here is firm, the lead
ing interest quoting $50 cents per
pound, compared with $40 cents per
pound, New York, more than week
ago. Tho latter figure was an increase
over the scent level which had pre-
vailed for some tiEle.
The market for spelter is likewise hrm,
and the best price for prompt is around
$50 cents per pound, East St Louis
shipment The tin market continues to
be controlled by the War Trade Board
The fixed price is 72h cents per pound.
It is considered likely that control will
be lifted about the end Of next month.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
New Records in Shoe Trade.

Shoe manufacturers whose statesmen
are returning from the road with Or
n ers from retailers for fall Footwear
declare that business is establishing
new records. Retailers and Jobbers
in all sections of the country are said
to have placed unusually large orders
for fall goods. the filling of which is
keeping the factories working to full
capacity. 1t is believed that because
material market retailers are anx-
ious to place orders for their full
requirements at present prices.
Several of the larger manufacturing
concerns which made no change 1r
their price schedules when general
revision was made several weeks ago
have recently advanced the price of
their footwear from % to 30 cents a
pair This deferred increase was eX-
planned as being caused by these
manufacturers having large stocks of
leather bought at prices preVailin,-
last January and which have just
been exhausted.
Sole leather reached new heights
yesterday, when dealers made sales
of overweight No l grade at 81 cents
and middleweight No. l at 50 cents.
mis- was an increase of two cents
Il pound for each grade. Dealers and
tanners say that the change was
caused by the advanced cost of hides
and the demand from foreign pur-
chasers. Many export orders have
been booked by dealers. but have not
been shipped, it is said. because of
ne unsettled condition of foreign ex-
change. Scandinavian countries are
heaviest buyers of sole leather al
though business has been received
from other foreign markets.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
Sharp Rise Is Noted.

deliveries the past week. 1t extended
to 200 points on the old crop months in
this market and about 230 for the new
crop deliveries from last Saturdays
closing quotations. May sold as high
as 81 cents Thursday afternoon against
3OA cents for July The near months
reacted rather sharply yesterday owing
to the cessation of trading in May con-
tracts bringing about liquidation in
that month which forced it's price down
to $3.50, at which price the contracts
expired at noon.
feet ed the other months only slight
~. however. and today all the new
crop deliveries advanced to higher
levels than Thursday. The market
closed today with July 5000. August
and January $50. the final bids.
Present prices are the highest reach
ed since early last fall.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
Federal Financial.

James B. Forgan. recently returned
from the council of the federal ad-
visory board. made this announcement
to Chicago bankers:
IF there is any further bond issue
placed through banks and bond
houses 1t will not appear until 1920.
The government will probably length
en- the term of Treasury certificates
from four to six months. or possibly
on the new SERIES"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
American Locomotive.

It 10 stated that the American Lo-
connective Company has some $4,000
600 of certificates bearing s per cent
interest, paid out by the railroad ad-
ministration. to be cashed when Con-
z Arass enacts the necessary legisla-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
Looking for Advance in Rates.

The statement by the director gen
eral of the railroads that the net loss
10 the government through the OPP
Grafton of the railroads of the country
for the first three months of the cur
rent calendar year has been $780,
600. 700, and that, continuing on this
ratio. would cost the government
$500 900 as minimum for the
calendar year. suggests very en-
phaticalfy that another increase in
rates for passenger and freight traf-
fic cannot be very far off.
The experiment of government ad-
ministration during the war period
has been emphatic in giving public
ownership very black eye, and
soon the effort will be in the direction
of divorcing the control Of the fed
eral administration. from everything
that it still retains.
In London and all England the pub
lie is engaged in an effort to elimi-
nate paternalism, in SO far as it ex-
tends to government control of in
dustry. and labor seems to be as
vitality interested in the problem.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
View of Merchandise Markets.

Instead of working back to normal
the merchandise markets today are
getting more abnormal. according to
Lionel ]. Noah. manager Of the Asso-
ciated Merchandising Corporation,
composed of nine large department
stores located in cities in widely sep
arated sections of the country.
THE present market is a difficult
one in which to operate" said Mr..
Noah today. and buyers for retail
stores are obsessed by all sorts of
fears and misg:vings. They feel that
they are being forced to pay high
prices without justification. In my
own opinion prices are inflated, but l
fear the imitation will continue for
some time to come. possibly a year or
more" Mr.. Noah ventured the opin-
ion that, while the retail stores were
taking in more money than ever be-
fore and possibly making a greater
net profit, they were actually selling
less merchandise than in the days be-
fore the price ascension
jewelers. manufacturing specia{ties.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
Textiles Continue Active.

While demand for practically all tex
tile goods continues active, the volume
OF general business is smaller because
of the growing reluctance of manufac-
turers to make further sales In short
leading interests are anxious to check
advances, which have encouraged specu-
latlVe operations, and may lead to I'M
pleasant developments later on Offer
ings of some lines have been entirely
Withdrawn, with the exception of stock
goods for immediate delivery. AS usual,
many buyers show more anxiety to take
hold at the higher levels than they did
at lower prices. and many retailers are
evidently more willing to anticipate fu-
ture requirements Exports are incrcas-
ing steadily and further large sales are
reported to South America and the West
Indies.
Further advances took place in the
cotton goods market. with buying on a
broader basis than heretofore. The
been put into effect within the last few
days have stimulated rather than re-
stricted business. Gables were received
from foreign countries calling for COL
ored goods, and number of the bleach
ed goods will have taken enough orders
next three months.
The leading producers of bleached
fabrics seemed averse to booking orders
for delivery beyond the early part of
september, this policy being due to an
ticipations of higher p.ices the forth
coming fall One of the principal manu-
facturers Of printed goods advanced quo
tations for most lines l cent a yard over
those named eight days ago, and per-
Gales. which are used for dresses, were
put up cents yard.
Unbleached fabrics, were however,
purchased on a large scale and prices
for a number of cloths suitable for
making printed goods assembled one
half to cents yard. While a num-
Der of the mill agents asserted that
avoid buying of unbleached goods at
steadily soaring prices was due to
scarcity of supplies, others conceded
that the situation was marked by con-
siderable speculative buying by inter-
ests that may not intend to convert the
gray cloths into finished goods.
The more conservative commission
houses are averse. to selling individual
customers quantities of goods that
seem to run above their normal re-
quirements and in every instance the
credit standing of customers is being
closely watched. But it was intimated
that brokers in unfinished cloths have
done considerable business in exchang-
ing contracts. which represent resales
of goods bought At lower levels than
those now prevailing.
There was further sharp rise in
prices for cotton contracts for future
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
May Withdraw Gold.

A premium on Swiss francs and
Spanish pesetas. offers the only
possibility for the withdrawal of
gold from the huge stock now con-
trolled by the federal reserve board.
Gold exports have been prohibited
since September 10. 1917. but some
slight concessions have been granted
for Withdrawals TO Mexico. Colombia
and other South American places. in
exchange for bullion shipped here.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
Local Securities.

The feature Of the market on the
closing days OF the week was the ex-
cellent display of strength in railway
preferred. The inference apparently is
that the passing of the common divi-
dend has been of assurance to the
preferred shareholders that their in
terests are more securely cared for
Counting the dividend the stock is
practically points higher than
week ago. There have been no sales
OF railway common since the passing
of the dividends and no way Of form
ing an estimate of the real value of
the shares.
The Columbia Graphophone Com
pany has not called for redemption
Graphophone per cent bonds. Some
holders of these securities have
turned them in at par in payment for
the new preferred stock, but the ex-
pected call for June l has not been
received
1t is now stated that a clause in the
bonds neCessitates four weeks no.
tice before redemption. In that event
the retirement of the issue cannot be
accomplished for another six months,
as retirement must occur at an inter-
est payment date.
The shares of the Columbia GRAPHIC
phone Company are selling a little
more freely on the local market and
barely holding their recent gains
with the common less steady than
the preferred-the latter being under
par and the former nearly three
times par value.
Mergenthaler has advanced with
Lanston nominally steady.
Washington Gas shows a steadier
tone.
In the last two weeks trading has
turned more to stocks and less to
bonds. at direct variance with the
record Of few weeks ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-25
BY I. A. FLEMING.

Europe is drawing on the United
States very heavily, SO much so that
in many lines of manufacturing en-
deavor it is necessary to speed up
production.
The fact that Europe is having a
hard time to pay for that which 1t
gets is evident by the demoralized
condition of foreign exchange, espe-
cially so far as the moneys of France
and Italy are concerned There is a
tremendous disparity between the ex-
ports and the imports, all in favor of
the United States.
The necessity for preventing a
crisis led TO efforts toward the for
nation of a powerful banking pool
with which to stabilize foreign ex-
change and assist in financing our
enormous exports to Europe, which
will undoubtedly continue for a. long
time. before imports will make any
appreciable reduction in the bills be-
ing created against foreign lands.
The total value of the exports for
the month of April. 100000, was
just s10o,0O0.00 over the previous
monthly high record and like
amount greater than the March eX-
port value.
AS compared with the same mOntn
last year the value was $214,000.OOO
greater.
For ten months of the fiscal year
the value of the exports from the
United States was s5.705,000.000 and
the value of the imports reached but
$2,474. 100000. leaving practically
larger amount to be settled some
other way than by exchange of mer-
chandise.
1t is evident that the United States,
the prosperous nation with the re-
sources scarcely scratched must ar
range credits and extend helping
hand until such time as Europe can
send US manufactured products and
securities. as medium of maintain
ing exchange rates.
In plain dollars and cents. francs,
the money unit of France. generally
valued at about 20 cents, or fraction
less. now requires SIS francs to
equal one dollar, Tires. the unit of
Italy and of about the same market
value, are quoted at $50 to the dol
lar. Belgian francs. 6.S9 to the dol
lar.
Evening capital news. (Boise, Idaho) 1901-1927, 1919-11-10
RIPPING RHYMES
THE COP.
BY WALT MASON.

p
Oh, the cop gets princely wages.
Just to hear and sympathize, when
wed vent our futile RACES, and
hand out some sobs and signs. He
Is standing on the corner. In his
uniform Of blue, and he'll weep
with any mourner who would raise
a howdydo. Tell your troables to
the copper, an attentive ear he
lends; it's immoral and improper
II you spring them on your friends.
We have all our little sorrows, in
each breast some sorrows lodge;
and no man of wisdom borrows
any trouble he can dodge; so when
You are seen approaching with
fresh grievances supplied. I don't
need q lot Of coaching ere run
away and hide. Tell your trouble
to the peeler. he viii fatten on your
wall; he will list to every spieler,
- he leans against the Jail; oh, he
leans against the prison, and he
teeters on his toss, and . princely
wags II his'R just beceuse he
hears your WOES. All your 6riefs
are old and hoAry, and Of wsari-
ness they're full; 90 and tall your
dismal story TO the nearest har-
1891 bull
Evening capital news. (Boise, Idaho) 1901-1927, 1919-11-10

q
Pregldent Wileon INDUCES IN no
overstaternent when he Announces
the coal strike ordered for November
unjustifiable and unlawful.
1t ID unlawful because in violation
Of an agreement sanctioned by. the
fuel administration. which does not
expire until April l next.
II IL unjustifiable because never
authorized by vote Of the miners; be-
cause 1t il undertaken in support Of
the lie that the operators refused to
confer, negotiate and arbitrate; be-
cause the country Is still in a state OF
war. and because wages and condi-
lions of labor in the industry are not
such as to warrant revolt and idle
ness on the threshold of winter.
Regardless of the merits of the
minor point at issue, strike or
iginated and decreed by violent lead
ers can be construed only as an at
tack upon the nation itself. and no
less could have been expected Of the
president than his declaration that
he win enforce the law and protect
the interests of the people in every
emergency.-New York World.