davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-01
STEEL FIRM IN TONE;
OTHER METALS QUE!

NEW YORK, May 31.-There is
and buying is reported as having as
sumed larger proportions. Practical
ly all lines are affected by the change
in the consumers attitude and orders
are coming in at a satisfactory pace.
The price scale is steady and firm,
and little talk is heard here concern
ing shading. In fact, some of the
independent interests in the trade
have intimated that there may be ad-
yances in their price cards before
September. the date originally set IN
the trade for a change in levels pro-
vided buying develops as is expected.
Brisk Demand for Sheets.
In the local trade brisk demand
is noted for sheets on account OF or.
ders received from manufacturers OF
automobiles. Wire products are also
in demand in considerable quantities,
and it is limited that advances may
be recorded in the prices on these
products within a comparatively snort
time Oil country goods are receiv-
ing attention at the hands or buyers
and considerable mileage has already
been booked. In plates there is great
despite the fact that one independent
is quoting above the industrial board s
price, while sales made on Thursday
showed q concession of Is points
from the established level. Dema nd
for structural steel continues to I'M
prove and a favorable report is ex-
pected for the current month.
Improvement in Pig Iron.
Pig iron likewise is showing unmis-
taxable signs of improvement and in
terests here point to orders not only
for prompt, but also for second half,
and, in some cases. last quarter, de-
livery. Here, again, prices are re-
ported to be firm and the local trade
is at present looking forward to the
third quarter as time when price
levels may be advanced so as to ease
the situation at the plants. Wages in
every instance are being maintained
and the improved feeling on the part
of producers is expected to guarantee
to employees present wage scales for
some time to come.
The copper market has been quiet
during the past week, and 1t Is re-
ported that second hands have been
shading prices. Offering e1ectrolytic
for June and July shipment At 16h
to 1871. The larger dealers and pro-
ducers, however, are said to be hold
end of the week was practically nomi-
nal, owing to the holidays.
In outside hands there has been an
easier tone evident and in some cases
recessions have been reported on spot
quotations. A general range of from
16A to 1914 cents a pound prevails.
Lead and spelter have ruled quiet.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-01
His>Set Speech.

Mr.. Kickmore-Tm to speak at the
annual dinner given by our firm.
His Wife-Oh. dear! I hope you
won't find too nuch fault with it,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-01
TRADING VOLUME
AT HIGH AVERAGE
Operations at Four Sessions
Record Turnovers Ranging
Up to 1000, 900 Shares.
INTERVALS OF DULLNESS

NEW YORK, May 31.-Operations on
the stock exchange this week were
limited to four full sessions. but this
did not materially diminish the VOL
ume of trading, the daily turn-oveG
ranging from 100000 to 10000 900
shares.
There was an undertone Of caution,
however. resulting not so much from
firmer money, but a general desire
to take profits over the protracted
holiday because of the critical con-
ditions abroad.
This tendency naturally manifested
itself in stocks which recently en-
joyed especial speculative favor, not
ably motors and oils, but was bal
anced by a fresh demand for ship
pings. low-grade rails, steels and
equipments.
Broad Inquiry for Specialties.
There also was broader inquiry
for specialties comprising the food,
chemical. rubber and textile groups,
accommodating of those issued being
based on tangible evidence of gen.
eral trade Improvement.
The unqualified success of the vic
tory loan, as shown by the large
oversubscription. also stimulated the
bond market and contributed to the
success of several new capital issues.
including a s1O,oo0.0oo South Ameri-
can municipal offering.
Rates on London. Paris and Rome
were again extremely unsettled, but
this long-standing condition was
without adverse effect on British and
French war f1otations. while the Rus
sian sian issued s .sl, in this market strength
Some Periods Of Dizziness.
Intervals of dullness and uncer-
tainty accompanied signs Of higher
money and apprehension concerning
the possible course Of events abroad.
but these were overcome by fresh
waves Of buying which embraced the
entire list.
The market has now experienced
almost four months Of trading on an
unparalleled scale. It's magnitude
may be judged from the fact that
stock transactions for the first Ave
the 1918 output for the same period,
while bond sales have vastly more
than doubled.
Much of the investment demand is
of recent origin. the bond market
finding perceptible stimulus in the
success of the victory loan. This was
followed by new corporate financing.
including a ten-million- dollar Rio de
Janeiro offering, all being quickly
absorbed.
Peace Treaty Engages Attention.
The terms Of the peace treaty en-
gagged the serious attention of leading
banking interests, that momentous
event being recognized as a vital fac
tor in the general plan of European
reconstruction.
In the highest financial circles there
appears to be an increasing realiza-
ton that the United States will have
to bear a large part of the burden
necessary to restore normal financial
and economic conditions abroad. Pro-
posals to discount part of Germany's
indemnity to France are expected to
form pat Of the comprehensive plan
now under consideration by American
bankers.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-01
Very Modest Quarters.

Tho Washington Office will be a
modest one for some time. under the
control and direction of Maj. Hyde.
the secretary of the National Bank
section, who will spend some time in
making a careful survey of the sit
AAlon to find out how and to what
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-01
PLANS FOR CONFEDERATE
MEMORIAL DAY, JUNE 8
Annual Service at Arlington Gene
terry Next Sunday-Representa-
tive Stedman, Orator.

The program for the annual service
in memory of the Confederate SOL
diers buried at Arlington will be held
next Sunday at o'clock in the Con-
federate section at Arlington.
Representative Charles NJ. Stedman
of North Carolina will be the orator
of the day. and the Rev. Dr.. Randolph
H McKim will deliver the invoca-
ton. Both are Confederate veterans.
The musical program, under the d.
rection Of Mrs. John T. Callahan, Will
include tho National Quartet. whose
members are Mrs; Elizabeth Maxwell.
Braithwaite and Harry Forker.
Miss Marie Louise Owens, daughter
of DR.. Clarence J. Owens, and Miss
Caroline E. Luxford, daughter Of Capt.
o. C. Luxford. U. S. A.. will be spon-
sors for the unwilling Of the floral
southern cross, Immediately after the
sounding of taps by member OF the
band in attendance.
At the conclusion of the program
the strewing of flowers will take
place, under the direction of Mrs:
George S. Covington. in charge of
the committee on flowers Donations
of flowers by friends who wish to con-
tribute will be gratefully received at
1922 Vermont avenue before noon of
next Sunday, or at Arlington during
the course OF the program
The general public, as always, is
cordially invited to be present.
Committee in Charge.
The Confederate veterans commit
tee in charge is composed of Capt. ].
NJ Hickey. chairman: w. L. Wilker-
son, vice chairman; Coils. Lee Crandall
and Julian J. Moore and Messrs. B. F.
Richmond, D. S. Walton. w. ]. Parr,
S. w. E. Pegues. J. Aline Brown, r.
S. Denny, J. A. Bethune and ]. S. Rey-
nolds.
The Sons of Confederate Veterans
have appointed a committee compris-
ing Albert Sidney Parry, chairman;
Maj. E. w. r. Ewing. Capt. Q. c. Lux
ford and Messrs. ]. Roy Price, p. H.
Blalock, F. r. Fravel, N. B. Williams.
William S. Stamper. NJ. E. Kahn, Allen
d. Deason and ]. A. Kephart.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-01
idea Originated Two Years Ago.

The idea Of having the bankers rep
resented in Washington originated with
the national bank section of the Ameri-
can Bankers Association two years ago
at the spring meeting of the executive
council OF the association, at Briarcliff
Lodge. ". Y.
The national banks have persistently
urged the association to permit them
to remove the Office OF their section TO
Washington because all laws affecting
them are passed by Congress and all in
terpretations OF existing laws and all
rules and regulations governing their
acts are promulgated by the Federal
Reserve Board and by the controller Of
the currency. 1t has been ascertained
by experience that intimate personal
contact with government officials can
accomplish more In a few hours than
can be done by correspondence in a
month. Thus II is natural that the ma
tional banks should desire to draw near
the source whence they derive their
power and from which they are con-
trolled. believing that in so doing they
can receive a larger measure of service
than they can get II their office Is To-
Gated at distance and matters affect
ing them handled through the channel
Of correspondence.
"In locating an Office In Washington
II is not the intention of the National
Bank section to engage in legislative
activities. but it's efforts will be
directed toward establishing closer
relations with the administrative
iariy tho Treasury Department, in
an effort to render service to mem :
Der banks.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-01

extent he can make the office of real
service to the members of the sec
ton.
Those who have advocated the
move to Washington see great pos
of the national banks in the Nations
Capital, and there is a strong senti-
ment among the members of the
other sections that the general office
of the association should be moved to
this city. although. as the state banks
and trust companies derive their
powers from the states, they are not
so vitality interested in the matter as
the national banks
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-01
Heavy Trading In Cotton.

Ihe cotton markets were active
throughout the week. with unusually
heavy trading and very wide f1uctua-
t1ons from further general buying
and the spread of increased builish
sentiment throughout the trade and
among local, southern and Liverpool
spectators from sharply advancing
prices Tor cotton goods and more un-
favorable weather throughout the
week to give the new crop rather
poor and late start.
1he miximum rise in prices for the
old crop months here was about $50
points. with July going up to 3oS0
cents per pound. The advance in the
new crop months ranged from as to
$50 points. October sold as high as
1920; December. 31.S5; January. n 10
and next March deliveries, 31.45.
Inc highest prices for the old and
also the new crop months were
reached on last Monday The shorts
were then we'll driven in, and. as the
market became heavily overbouRht
by eleVenth-hour bulls, the technical
speculative position alone induced a
great deal of profit-taking sales.
Thls pressure increased on Wednes-
day and resulted in a sharp break
There was a further decline in prices
early Thursday, with the general list
making total reaction of 200 points
for the new crop months from the
top. This decline, however, was re-
garded in the trade as merely a nat
ural and healthy reaction, consider
ing the big advance which has taken
place In price for both spots and III
lures the last two months.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-01
OPTIMISTIC VIEW
SPURS THE MARKET.
Confidence in the Future of
Iron and Steel Is
Demonstrated.
REVIEW OF CONDITIONS

sPe'hl DlSi'arSn 10 Inc star
NEW YORK, May 31.-Optimisti:
predictions are beginning to material.
| ize in the iron and steel trades. Fol
lowing the lead of the government ir
ordering 100000 tons of rails at the
price previously alleged to be toe
high, numerous private buyers are
coming in and their confidence in the
future stability of the market is dem
onstrated by the greater willingness
to anticipate requirements. numer-
| Gus contracts being offered for de.
livery six months hence
Automobile manufacturers are
among the most active buyers, but
the movement is expanding in al
branches, some reporting the largest
sales since the armistice was signed
The fact that our prices are lower
than those prevailing in England
coupled with reduced freight rates, is
reflected in larger export sales. The
rate of production is growing stead
lily: there is less talk of unemploy.
ment and wages are generally vel
maintained
All Dry Goods Lines Active.
Activity in practically all dry goods
lines is limited only by the reluctance
OF sellers to accept further orders
i,redictlons of continued lively retail
distribution have created fears of a
shortage of goods. Hence legitimate
distributors are exceedingly anxious
10 place orders. while there is q
fever1sh speculative demand also
based on hopes of reselling at hand
facturers are determined to curb the
latter tendency and have refused many
blds at levels higher than the recent
government basis. Many mills are sold
up for months to come and various
INES have been withdrawn. Owing to
lapor difhculties production is still
SLOW ana deliveries are unsatisfactory
winch serves to increase the anxiety
or buyers. There is great unsettle-
ment as to values and in some cases
finished goods are selling below the
prices now ruling for the rough ma
terlal Export demands are larger
good business being reported with the
west Indies. South America. Scandi-
naV1a and the Mediterranean
Business in green coffee has been
confined mainly to cargoes afloat or
resales of cost and freight purchases
a resale Of Rio rs and SIS af1oat al
~ 1s to 1875 ex ship being the feature
coffee or direct business with Brazil
aIthough offers were received on a
lower basis. Our visible supply is
down to 94s,497 bags. including only
$4,000 af1oat, and it is claimed that
the coffee recently bought for future
Shipment will not be sufficient to All
the demand which is expected to de-
velop after the usual midsummer dull
ness.
The only purchase of raw sugar
this week was 1857 tons of Porto
R1cos. Seventeen more Cuban mills
nave finished the season and there
was a marked decrease in the crop
movement. Exports were also much
smaller. especially to Europe. Ar
rivals at Atlantic ports were slightly
smaller. but MEETINGS were Increased
10 10000 tons. or practically full ca
pacity. Nevertheless. the domestic
ceeded the output and delivery de-
lays have increased. Philadelphia re-
hners have withdrawn or will take
orders only for July-August delivery.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-01
Local Securities.

Late in the day some Of the local Sc
curities have shown trend toward
higher prices. as If some one had dis
covered that three months bull market
in New York might have been on such
a foundation as to warrant a little
strength elsewhere in the security world
The outlook for the majority Of the Sc
curities is encouraging and there's are
many bank stocks in the list that on
their book value should sell higher.
Bonds may do better.
New-York tribune., 1919-07-13
Bank Clearings.-Bank clearings yes
terday were:
The Dollar in Foreign Exchange

Exchange on London and Paris made
new low records last week. That was
the outstanding development in the
foreign exchange market. Demand
sterling fell more than 2 cents in the
pound under the 1915 low record of
$3.50, and francs dropped to around
$50.
1t was quite evident from the move
ment in the exchanges that the British
and French financial authorities were
letting rates seek their own level. The
attitude in London since the stabiliza-
tion scheme was abandoned several
months ago has been to let sterling
take care Of itself. Apparently it is
believed there as we'll as in France
that the lower rates go the greater
effect it will have upon checking un-
necessary imports in those countries.
An interesting discussion of the ef-
feet of the high premium on the dollar
is presented by the Corn Exchange
National Bank of Philadelphia. eve
can't figure out" it states, chow an
exchange rate operating in favor of
this country will not ultimately react
New-York tribune., 1919-07-13

Prices in the cotton market ascended
to high level for the season yes
terday on reports that the Shipping
Board was ready to supply tonnage for
All deliveries benefited from the rise,
and October contracts sold at 1856. or
approximately SO bale above the clos
ing price of Friday and $3.50 above the
low level of last week. Indications of
better weather and moro favorable crop
news induced many recent buyers to take
profit and reactions later in the morning
reduced the gains at the close to between
Is and 80 points.
Cotton men were particularly interested
In report that shipping route from
Philadelphia to Hamburg will be started
under the supervision Of the Shipping
Board as soon as cargoes are available,
and that later there Will be direct ship
ments from Southern ports to Hamburg
and other German seaports
The staple of the South is regarded as
perhaps the most urgent raw material
need of Germany 1t Is known that
neutral European countries for shipment
into Germany as soon as the bar
riers to trade are removed.
The opening of the market was firm at
points, and active months sold 40 to so
points net higher before the end Of the
first hour, with all the active deliveries
working above the 35-cent level Until
the highest attainable this season Re
ports from the domestic goods trade
showed coptinued activity, but 1t Is an
tlcipated that the report from the Census
Bureau. due tomorrow, will indicate a
domestic mill consum ption of more than
100000 bales, compared with $4,000 for
June. last year
The local spot market was steady and
Is points higher at SO cents for middling
no sales were reported.
The range of prices follows:
New-York tribune., 1919-07-13
Ouekar Oats Stockholders
Vote to Increase CapitaI

At special meeting of the directors
of the Quaker Oats Company, held in
Jersey City yesterday, stockholders
voted to increase the authorized pre-
ferred stock from S15,000,OOO to $25,-
100000. The authorized common stock
was also increased from $l5,OOO,OOO to
$25 100000.
The company purposes to offer to
preferred stockholders of record july
l6 new preferred stock on the basis
of one new share for each one and one
half shares outstanding, the payment
on the 10000 new shares at par to be
made on or before August 8. The
present preferred stock outstanding is
Sl0,S00,000 Common stockholders of
record on July . will be offered the
new common stock on the basis of one
share for every eleven shares outstand-
ing, the payment on the $500 new
shares at par to be made on or before
July 81.
New-York tribune., 1919-07-13
Stockholders Approve
Wright-Martin Merger
Absorption of Assets by Inter.
national Motor Truck
Is Voted

A plan providing for the absorption
of part of the assets of the Wright
Martin Aircraft Corporation by the
international Motor Truck Corporation
and the retention of their present hold
the former has been approved by the
stockholders of both companies De-
tails of the plan will be carried out
by a committee consisting of Charles
Hayden, chairman; Frederick B..
Adams, A. j. Brosseau, James 3. Clews,
George IL. Houston, Ambrose Mcneil,
Henry X. Pomroy and Andrew Varick
Stout
Preferred shareholders of the
Wright-M Martin company, under tho
terms Of the merger, will receive $12O
of International Motor first preferred
and accumulated dividends for each of
their present shares. Wright Martin
common stock holders will receive for
each 100 shares 2.8 shares of second
preferred and 2 shares of common
stock of international Motor along
with Is shares of no par value stock
of the new Wright Martin company
which will conduct the aircraft busi-
ness.
international Motor will increase it's
capital for this purpose, but there will
be no change in the common capital
izaton. Both the first and second
preferred shareholders will retain their
present holdings and receive in addi-
tion the amount of .Neir accumulated
dividends in the same class of stock
as now held at par.
New-York tribune., 1919-07-13
Mexican External
Debt $l43,472,000,
Government States
But Official Figures Fail to
Include a $3O,OOO,O 900
Huerta Loan, Repudiated
by President Carranza

WASHINGTON, July 12.-Mexican
newspapers reaching Washington con-
tain long articles declaring that recent
figures as to the Mexican public debt.
published in the United States, are
WHOLLY inaccurate" In this connec-
tion financial experts here said COM
parison of the unofficial figures puo-
llshed in this country with the figures
given out by the Mexican Treasury
Department show no great discrepancy.
The official Mexican figures as to
the external loan debt of the country
are $143,472,000, with interest to the
end of this month, placed at S43,000,-
published placed this total at $173,-
perts here said, is made up mostly by
the $30,000,000 of the Huerta loan
floated in France under authorization
of. the Mexican Congress but repudi-
ated by the Carranza government
The internal loan debt of Mexico
according to the official statement, is
$69,397 900 and interest to June 80, of
$17,914,000. The unofficial report gave
this debt as $66,611, 900 and interest ct
$14,530,0O0.
Washington financial experts say the
account for all the guaranteed railroad
Indebtedness, which the unofficial re-
port figures at $290,5OO0OO; the obli-
cations other than railroads which the
Mexican government has guaranteed,
the chief of which is the farm loan
banks debts, which, with interest to
June 80, total $31, 100000; the "infals-
ticable" issue of paper money, of which
S80,O0O,000 at 10scents, United States
currency, is still outstanding, making a
total of $8,000,O00 more. or the $780,
100000 which Carranza took as "loan'
from the banks of issue in Mexico
City.
The fact that Mexico has paid no
interest on her foreign debt since 1913
also is kept in the foreground by
Washington experts, who are keeping
close watch on the financial condi-
tions of Mexico for the State Depart
ment. Experts here also assert that the
Mexican government has used the entire
income of the railroads and express
companies without accounting and with
no admission of responsibility.
New-York tribune., 1919-07-13
Stock Exchange to
Buy Wilkes Building2 2

The Stock Exchange has about COM
pleted arrangements to either pur-
chase or lease the Wilkes Building on
the northwest corner of Wall and
Broad Streets, according to reports in
realty circles yesterday. Acquisition
of this property would give the ex-
change the ownership or control Of
the entire block on the west side Of
Wall Street. between New and Broad
The building on the northwes.
corner of New and Wall Streets
was purchased several months ago
and is now being demolished to
make place for a structure which
will be used to house the new
stock clearing corporation of the
exchange. The Wilkes Building could
be connected with the main building
of the exchange by breaking through
the walls between.
New-York tribune., 1919-07-13
Mexico Short of Sugar

WASHINGTON, July 12.-Mexico is
threatened with a sugar shortage, said
official dispatches received here to day
reporting that many of the sugar fac
tories in the state Of Morelos have
been dismantled and the machinery
shipped to Mexico City to be sold as
junk. Opening up of a number of new
junk shops in the capital resulted IN
an investigation into the source of sup
ply, which was found in Morelos
The sugar industry, the disI atches
said, had been enjoying great prosper
ity in Morelos under Zapatista control,
but the Zapatista forces recently were
driven into the hills by Carranzistas.
The victors thereupon, the reports
said, wrecked the sugar factories and
disposed of many carloads of the ma
chinery as junk.