davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
LOANS ON y. s. DEBTS GROW.
Deposits for Week Rise $24, 000,'
600; Reserve Percentage Falls.

Borrowings on security of govern
ment war obligations increased $685.
100000 in the last week, according
to the weekly statement last night
Of the Federal Reserve Board. De-
posits rose &24.00D.000 and the reserve
percentage fell $40 per cent
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
GOOD PROSPECTS FOR JoBBER
Silk and Wooden Trades to Have
- Biggest Season.

NEW YORK. May 17.-From present
prospects in the wooden and silk
trades. the jobbers are in for one of
the biggest seasons in their history.
While some Of the manufacturers
Of fabrics have attempted to cut down
on orders from jobbers SO that their
own customers might get the entire
benefit of buying at first hand. the
jobbers as a rule seem to have realized
the bright prospects and have bought
as heavily az 1t was possible for them
to do.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
MARKET IS ACTIVE
AND GOES SOARING
Record of Broadcast Specu-
Iative Inquiry Since World
War Began.
LEADING FACTORS CITED

NEW YORK. May 11.-Propelled by
the broadcast speculative inquiry since
the beginning of the world war, and
in many respects without parallel in
the countrys history. the stock mar
ket this week assembled to new
heights. seemingly without strain in
any financial quarter.
There is ample evidence that Dor
rowings have expanded enormously
especially brokers loans. and the alb
sence of control or supervision OF the
money market by any constituted au.
thority has excited misgivfngs in con-
servative circles.
On the surface the only monetary
disturbance was caused by a belated
midweek demand for call money
with a resultant advance to ~ pei
cent. but normal conditions were al.
most Immediately restored.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
Lead Market Quit, But Firm.

The lead market is quiet but firm.
and the best price for New York is 5
cents per pound. Spelter is also firm
at sos cents. Interests point to heavy
export shipm ents as a reason for the
strength of the market. Domestic con-
sumers are filing only for immediate
requirements. There has been, no
change in tin.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
Break in Foreign Exchange.

Even the complete collapse of for
eign exchange on France and Italy
failed to arouse more than languid
interest. except among international
bankers. who were unable to offer
any reasons for this adverse move
ment other than the long recognized
economic conditions.
Bullish literature which circulated
the length and breadth of the land
empha sized such favorable factors as
the peace treaty terms. crop pros
poets. the unqualified success of the
victory loan and the coming session
of Congress.
The letter was most potent for its
influence upon railroad shares. Wall
street and the trading public proceed
ing on the assumption that early ac-
ton would be taken to relieve the in
creasingly acute transportation situa-
ton.
Conditions in the leading industries.
especially oils. shippings. feathers and
textiles. showed marked improvement.
but the full effect of an open market
for steel and iron is yet to be deter
mined.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
Some One Has Faith.

With the railroads of the country
earning at an annual interest rate Of
per cent as a maximum upon their
nook value. and with Director Can
eral Hines frankly warning the puhlic
mat results will probably be worse
before they improve. some one hoe
1alth in railroad stocks as an in
yestment ~
II may be that the hone is dominant
mat congress will solve the proh.
fem that has been worrying the hest
minds OF the country for two or
three years-that of making both
enos or the nations railroads meet
WIN some return 10 the Shareholder.
IT may be that the strength is in.
splred by the hope of better earn
lnSs; but one thing is sure, railroad
STOCKS. In the dumps and neglected.
Ior months. are beginning TO show
more activity. and prices are steadily
moving to higher figures
Director General Hines is expected
10 ask Congress for 81. 900. 900 900 for
ms revolving fund for the railroads
IN the immediate future. and Senator
Cummins is understood to be Willing
10 make II larger sum-
Enormous crops are being counted
on 10 help out the gross earnings
Tor the next fiscal year.
In the meantime the railway az
press Is also piling up a large deficit
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
Coffee and Sugar Trade.

Because of the drop in future con-
tracts and conflicting reports from
Brazil regarding the, disposition Of
large stocks owned by the govern,
ment, green coffee buyers have held
off as a rule. and hence slightly
easier feeling has prevailed. The cost
and freight market has been quiet
and unsettled, Rio prices generally
averaging lower, while Santos was
about steady Demand for mild grades
has exceeded supplies and small sales
are reported at Arm prices.
Raw sugar purchases included 49,
600 bags Cubas and 11.o6s tons Porto
Ricos. Receipts at Cuban ports were
smaller. but still much heavier than
for the same week last year. Stock s
there continue huge. as exports show
ed a marked decrease both to the
United States and Europe. Arrivals at
refineries again showed enlargement
and MEETINGS were increased to 10000
tons. Refined has been in fair de-
mand for domestic account and also
for to neutral ala eo ta in in
Shipments were heavier to the royal
commission and are expected to be-
come still larger as tonnage Is more
plentiful.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
Demand for Leather Breaks Record

The demand for all descriptions OF
leather broke all records during the
past week. according to a well known
dealer. and the recent price advances
are mild In comparison with those
expected during the next few weeks.
Buying demand for leather is well
distributed and the call is generally
for both high and low grades of up
per. sole and betting. Dealers are re-
ceiving practically whatever they ask
and many have refused to quote new
high levels owing to the rapid ad-
vance that is expected.
The present strong position of the
market is attributed largely to the
heavy operations of both foreign and
been especially active. and. from the
European shoe manufacturing in
dustry. have reached enormous pro-
portions. The majority Of the do
nestle manufacturers that have been
operating on the handto-mouth basis
are now being forced into the market
for supply renewals and, finding that
the hesitating policy is poor business,
they are now purchasing extensive
supplies. under a belief that prices
of the heavy foreign demands.
Demand for all classes of both sole
leather and offal from the cheap shoe
manufacturing trades of Europe have
resulted in advances. Local manufac-
turers are firm in their belief that
there will be a steady demand from
the European consumers for American
made shoes, and manufactured leather
articles. are also operating to capacity
Exports of shoes to Chile and other
South American countries have SHOWN
a large increase during the past year.
and a s the demand is regarded as per-
manent this source of consumption has
also encouraged the American manu-
facturers to try their luck in disposing
of their stocks in South American re-
publics.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
Twenty Years of High Silver.

senator Pittman. author of the law
uaer "hich s3oo:e0O,0O0 in silver dol
iars were melted down and sold to
INDIA has gone on record as beliey-
ing that we will have twenty wears
or high priced silver.
He points out that the demand for
tne white metal is far beyond the
noduction-nearly two to one: that
TO- Years England. as the only buyer
,"pt the price down. and that in
ms opinion the price will not go much
above s1.25 an ounce, as anv trend
70 higher figures would cause the
tnited states again to place in effect irs
ernnarEo against the export Of silver
IN the meantime the Pittman Iay.
comPels the government to buy ali.
yer Tor recoining il the value goes IN
one dollar an ounce. sues 10
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
Market News Condensed.

General market news included
further f1rmness in the metal market.
encouraging reviews of the mercan-
tile agencies and prospects of addi-
tiona1 capital issues in the coming
week.
The bank statement failed to reflect
to any extent the weeks heavy opera
tions in stocks-actual loans. for eX-
ample. showing only nominal de-
crease, with a gain Of about $14,600,-
900 in excess reserves.
Bonds were firm, the liberty group
developing greater strength on
further rise in liberty avs to $3.50.
Total sales (par value) aggregated
Sc. $780, 900. Old United States As cou-
pom rose 4 per cent on call during
the week.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
On the Local EXCHANGE

The expected happened during the
week. when the common dividend IN
the stock of the Washington Railway
and Electric Company was passed.
For months the Inevitable has been
staring the directors of the CORPORA
ton in the face. To have declared
the dividend would have been to han
dicap all prospects for further relief
Al the hands Of the Public Utilities
Commission.
Whether or not Judge Gould sus-
tains the claim of the Potomac Elec-
trio Light and Power Company to a
continuance of old rates, the resump-
ton OF the dividend payment on the
common stock is not q matter of the
near future
Fixed charges have been accummu-
lating against both the Washington
Railway and the Potomac Electric
Light and Power Company. until they
annually absorb an increasing part OF
the net earnings after taxes-and taxes
must be paid.
The Public Utility Commission T,
now considering high fares with the
understanding that sentiment in the
commission Is against zones and rather
In favor OF making the short haul
pay tho same price as the long haul
in Standardization to European
methods.
A continGency-higher fares for one
road and not for the other-sugEests
Q daver81on OF many passengers from
the higher-fare to the lower-fare road
whore the change can be made with
comparative ease. Many very short
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
Rapid Expansion Of Exports.

The rate at which our foreign COM
merce is expanding is indicated by
estimates that we shall have a favor
able trade balance Of $4,000, 100000 for
the fiscal year ending June 80. OF
course, Europe cannot pay for this
amount in goods or gold. The debt
thus incurred must be adjusted partly
+; by credits and partly by investments
abroad. etc. How far this debt can
be financed here is one Of the future
problems. The number of foreign
banks that have opened branches in
this country. and vice versa. the num-
Der of American institutions that
have opened offices abroad. is much
larger than commonly supposed and
shows the drift of preparations. Our
financial resources, however, are sure
to be taxed to the utmost, for home
demands will be even more insistent
and sure to command first considera-
ton. The only remedy will be for
Europe to stop fighting and get busy
producing those articles which can be
exchanged for American food and
other produce. Foreign trade is sim
ply barter, and payment in desirable
goods is far more satisfactory than
payment in gold securities or various
forms Of credit.-Henry Cleaves.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
Activity in Copper.

There has been an active business
in the copper market during the past
week. and prices have worked higher
in consequence. Quotations for spot
and nearby deliveries of electrolytic
ranged from 16 to 1914 today, but
metal could actually be purchased at
the inside figure, and some of the
leading producers claimed they had
nothing for sale below 16N delivered.
April copper output figures of the
representative producing concerns
have been reported as amounting to
s7.027.7S4 pounds. compared with 90.-
049.398 pounds in March and with
135.409.177 pounds in November, 1918.
The market here continues active and
the tone is very strong. Sellers are
quoting Is cents per pound for prompt
shipment. Sales are reported to be
heavy, although no definite totals are
available at the present time.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
better STEEL OUTLOOK.
| COPPER MARKET ACTIVE

NEW YORK. May 1.-THE steel
situation is reported to be improved
There is said to be a fair demand for
sheets. wire products and oil country
goods. France is reported to have
ordered 100000 tons of rails in this
market. Inquiries made in trade cir
Giles, however. fail to confirm this
rumor. That inquiries for future ship
ments of considerable rail tonnages
may have been received here is con-
sidered possible. The trade recently
credited a report stating that con-
siderable scrap iron and steel had
been shipped from Seattle to Japan
The pig iron situation is believed to
be greatly improved. Orders on hand
continue to reflect hand to-mouth
buying. but the increase in inquiries
for future shipment is regarded here
as the turning point in the situation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18

wANTED-A LIMITED AMOUNT OF NIL.
Ter Train Control Corporation stock f. T..
HODGE. 1875 North Capitol st. North s14,.
after ) pm. aOs
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
New Bank Building.
New Local Bank Building.

The new building of the Liberty
Savings Bank will be built of Bed
ford limestone. the same as that used
in the new Treasury Annex.
The safety deposit vaults will take
up one-third of the floor area and
will be equipped with the most mod
ern burglar and fireproof vault in
the country. The Innings and main
door will be drillproof and proof
against torch burning. The vault will
the valuables of the bank as we'll
The ceiling OF the banking room
will be thirty-one feet in height at
the maximum. with a barrel vaulted
and ornamental plaster ceiling The
architects are the designers also of
the National City Bank and the
Metropolitan Trust Company of New
York city.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
OUTLOOK FOR TRADE
GROWING BRIGHTER
Business Pushed on Ground
That Present Price Level
Is Justified.
INTEREST IN 1920 SHOWN

special correspondence OF he Star.
NEW YORK. May 17.-Apparently
business men generally have about
made up their minds to accept the
present price level as justified by con-
ditions. and are beginning to push
forward their business. There has de-
veloped noticeably during the week
"a strong demand for food textiles.
terials
With the signing of the peace treaty
and its prompt ratification it is be-
iieVed trade will show decided i'm
petus. The public will have it's ideas
settled and consider the ends of she
war accomplished. Domestic buyers of
textiles are taking hold freely, and
more interest is shown in 1920 bust
ness. There also is continued steady
export business. mainly in small lots
owing to labor troubles deliveries are
delayed. hence demand for spot goods
is especially urgent.
diminished cotton fabrics continue
in the ascendancy from both price
standpoint and in volume of goods
sought by converters. Demands APP
pear to be almost unlimited. especial
~ for sateens twilIs and print cloths
Pajama checks, sheetInEs. organdies.
popiins. drills and combed and carded
lawn are ordered in great Quantities
provoking fractional upturns daily
With conVerters. bleachers. printers
and other consumers Of gray goods
the price is secondary consideration
Opportunity for Jobbers.
Jobbers and department stores
throughout the country have taken
advantage of the advancing tendency
Iii Dioau silks and silk ribbons. Some
lines are at present almost unobtaln-
able for tall; likewise for filing UP
purposes for this spring. Buyers are
searching the market for certain
lines which meet the fancy, some Of
which are entirely sold up and dis
tributors report that the mills will
not further oblisate themselves to
manufacture the goods at this time.
Travelling statesmen are in many in
stances forwarding unprecedented or
ders for fall to their respective houses
in New York. A surprising number of
recorders are being received by mail
telegraph and from the road men
for immediate shipment. Many GUS
toners will have to be disappointed
Manufacturers Of silk piece goods in
Paterson, Altoona, Scranton and else
where report that they are being
see how they can possibly comply
tically impossible for them to bring
up their production to a point con-
sistent with demand. Additional
machinery and even enlargement OF
plants. and the leasing Of additional
buildings do not permit tsem to fully
cope with the situation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18
SUPPLY OF MONEY AMPLE
TO FINANCE NEW BUILDING
High Cost and Hope for Drop In Materials
Are Important Factors in Delays.

haul fares will be lost to the higher
fare road
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-05-18

haul fares will be lost to the higher
fare road.
A Desirable Aim.
1t may not be out of place at this
time to again call attention of IN
vestors to the wisdom of looking
into the bond issues of corporations
before buying their stocks.
Some OF the thousands of new in
vestors do not know the difference
between stocks and bonds: but the
old investor knows that bondholder
is a creditor of a corporation. while
business, entitled to share in the
profits after the bondholders have
been paid their stated interest. and
that the bondholder has priority lien
on the whole proposition, If his inter
est obligations are not paid and his
bonds also-when they mature.
Wise corporation managers s:-e en-
deavoring to wipe out bonds and have
their stock clear TO their share
holders.
General Motors Earnings.
The net profits of the General Mo-
tors Company for fiscal years ended
July l were as follows: 1914. $7.947.-
4l3: 1915. s14,926,322: 1916. s29.146, los.
and for the calendar years 1917 and
1918. s34.s33.S45 and $35, JO4.576 re-
spectively.
The output of passenger motor We
hicles of the United States increased
from 100000 in 1914 to 100000 in
1917 and went back below the million
mark in 1918. when the call for
trucks. tractors and the diversion of
the industry to war purposes caused
a reduction in manufacture.
The General Motors Company is one
of the few corporations that have no
bonded debt. Diamond Match Com
pany long ago wiped out it's bonds.
Lanston and Mergenthaler are in the
same shape.
The Holbrook news., 1919-02-21
New Oil Company Organized

A. B. Baird, the W e l l known geologist, informs the News that he will have the organization of an oil company perfected in a few days and that the company will have one or more rigs in the field about the first of May. The company is com posed of English and Scotch capitalists who, with MT. Baird, control a large acre age of choice land in the Hol- brook field. MT. Baird fur ther states that his company will be fully financed when drilling is started.
The Holbrook news., 1919-02-21
Mrs. MOritz Hostess

St. Valentine was the mo- tiff for the auction bridge party given last week by Mrs. H. M. Moritz. At the close of the afternoon a dainty two-course luncheon was served.
 High score was made by Mrs. D. J. Thomas, and low score falling to Mrs. w. B. Woods.
 Others present were: Mes danes Sapp, Flanigan, Ray holds, Bazell, Ayres, Wetz- Ter, Turbeville, Neal, Cad we'll, Jas. Scorse, Jordan, Coleman, Misses Shaw, Me Clanahan, Milestone.
The Holbrook news., 1919-02-21
Governor MeiklejOhn
 Returns From California

Governor Geo. D. Meikle- john, president of the Hol- brook Oil Co.,, returned Sat urday from California, where he had spent two months. Part of the time was passed at Redondo Beach and the balance in Los Angeles. Governor Meiklejohn com- bined business with pleasure and while enjoying thepleas- ures of the beach resorts he took occasion to close a bus mess deal for his company which will prove to be of great advantage to the Hol- brook oil district.
The Holbrook news., 1919-02-21
Apache Railroad
 Nearly Finished

A. s. Bonnet, secretary of the Apache Railway Co.,, was in Holbrook Wednesday on company business. MT. Ben net informed the News that his company has finished track-laying to within three miles of Cooley, the terminus of the road. This three mile stretch will be completed probably before the first of next month. This is a splen- did record for the construct ing department, for during the last three months heavy snows have greatly interfer- red with the work. In spite of unfavorable weather and a short labor supply, the road will be finished nearly a year before the date at first fixed for it's completion.
 The buildings for the big mill of the Apache Lumber Co. have been finished and are ready to receive the machinery. This will be in- stalled as soon as the road is finished and it can be trans ported to the site.
 MT. Bonnet stated that a school would be opened at Cooley next week with Mrs. Willoughby of Los Angeles in charge.
The Holbrook news., 1919-02-21
Meeting of Oil
 Bureau Tomorrow

A meeting of the Holbrook Bureau of Oil and Mining District has been called by Judge Sapp, president of the Bureau, for Saturday after noon, Feb. 22, at 2 o'clock. The meeting will be held in the superior court room. Several important matters will be discussed at this meeting and a full atten- dance of the members, and all who desire to become members, is desired.
The Holbrook news., 1919-02-21
Citizens Want
 Municipal Improvements
Municipal Water and Sewer System and Light Plant Owned and Operated by the Town are Badly Needed in HOlbrOOk. Citizens Will Probably Inderse the Propositions by their Votes When
 a Bond Election is Called.

all employees; it will in addi- tion pay the interest on the bonds and will provide a sinking fund which will pay off the bonds at their mat urity. It will do this, and besides the people will se- cure light and power for much less than they are now paying. From a cold busi- ness standpoint, the proposi- tion of the town installing a water and sewer system, and purchasing the light plant is a agood one. The people will own these utilities; they will enjoy their use and it will cost them not a penny more than they are paying now for lights. The light plant and the water system will pay for the upkeep of the plants, and when the bonds mature there will be money in the treasury to pay them.
 The urgent necessity for the early installation of a water and sewer system can not be denied by any citizen of the town. Sanitary con, ditions here are very bad; shallow wells and cesspools, and open vaults, are a con- stant menace to the health of the people. Unless con- ditions are changed, sooner or later an epidemic of typ hold fever, or other con- tagious disease, will depopu- late the town. Would it not be wise to take measures now to prevent such epide- mic by building a water and sewer system?
 Next week the News will publish a list of some of the towns in Arizona and else where that own and operate their public utilities. What has been done by other towns of the some class can be done by Holbrook, and
 we believe that the people of Holbrook will decide to better their condition by vot- ing for civic improvements.