davidaulloa/AmericanStories huggingface dataset:
Evening star., 1920-03-20
World Today Market

cular detailing at length the fact that
in this buying movement the Ameri-
can accumulating internal foreign
government bonds. such as make uT
the largest part of the NOV vement now
in full swing. places himself on the
same plane and subject to the same
conditions as citizen of France
Great Britain. Italy or whatever coun-
try is behind the bonds.
Should one of the countries in ques-
ton decide that "the quickest means
to a sound postwar economy should
be through the exaction of, say so
per cent tax on capital, the American
could not look to his government for
the protection of his interests be-
cause he would. in fact, have no in
terests involved that would be differ
ent from a citizen of the nation
which ordered the tax levy"
Further caution is urged in this
speculation because of currency con-
ditions abroad.
Attention is called to the fact that
several of the better known issues OF
German cities have been sold IN
greater amounts than actually exist
and that it will be found Impossible
to make the deliveries.
Before the war the rights of alien
holders of foreign securities were
rigidly protected in the instruments
themselves.
1t is not likely that the American
speculator. fully informed as to the
possibilities in the case, Will IaVor
the issues referred to. simply because
they are cheap or for the probaplnty
that the foreign exchange market Is
likely to make recover1es-
Convention ON the River.
The District Bankers Association
will hold it's second annual convention
on the S. s. Midland of the Norfolk
and Washington Steamboat Company:
sailing from here on the evening or
June and returning on the morning
of the 9tn. Business sessions Will pc
held Monday and Tuesday. stops Will
be scheduled later on.
The first annual convention was held
at Deer Park, Nd, last June, and was
so successful that the annual conven-
ably be attended this year by larger
of senior bankers.
Many out-of-town bankers will also
attend.
For the benefit of the followers of
Walton, it is probable that fishing
during convention hours Will be pro-
hibited.
Today's session of the local stock
exchange developed considerable firm
IS in the stocks in which trades
were recorded, while the bid prices
were we'll maintained.
Washington Gas was taken to the
extent of the offerings at 46. with this
ton sold sparingly at 46. and sale
of Railway preferred. the first in
some days, was made at 50.
Lanston was f1rmer, sales at S2h,
one small lot at S3, closing with S21s
bid.
The only bond transaction was in
Capital Traction 5s at 93A.
Evening star., 1920-03-20
STRAINED CREDIT SITUATION
CAUSE OF DECLINE IN MARKET
Recovery Rapid and Complete. Statement
Based on Wall Street Developments
Mischievous Predictions of Panic.

position will continue. although at a
slow pace. Exports of gold to South
America, which were the feature most
disliked a month ago. have definitely
ceased. We are certain to get some
gold from Europe: it is only the size
of the movement which is in dispute.
Therefore the prospects are that the
bank stock of gold, which for the last
year has been steadily diminishing.
will during the next six months in
crease. At the same time the peak
of expansion in commercial loans has
been passed. and these are bound to
come down. Thus the reserve ratio
stands to be helped in twofoid way.
Copyright. 1870. by S. p. westD
Evening star., 1920-03-20
DANGER IN BUYING
FOREIGN SECURITIES
National City Bank Warns of
Post Legislation Pos
SibiIities.
BY I. A. FLEMING.

Washington, in common with other
important cities. has developed quite
a large speculative demand for the
internal bonds of British. French. Bel
gium, German and Italian govern
ments.
Advertisements of these issues and
other foreign securities are numer-
Gus in the financial press and in the
daily papers.
Because of the fact that this is an
entirely new departure on the part OF
;he American people, and that they
may be fully aware of the possibili-
ties of this class of speculation, the
National City Bank has issued a cir
Evening star., 1920-03-20
CONSUL SEEKS BUSINESS.
Trade for Steamship Line Sought
by Argentine Representative.

SAN FRANCISCO. March ao.-what
shipping men regarded as an innoya-
ton in consular practice has been
announced by Horacia B. Caceres.
consul general for Argentina here
Mr., Caceres said he would make a di-
rect emort to find business for a re-
Gently established Shipping Board
line OF steamers running from United
states Pacific coast ports to Buenos
Aires via the Straits of Magellan be-
cause Of the value of such a line to
his country.
Evening star., 1920-03-20
DIVIDENDS DECLARED.

Stock of Pay
record. able.
Asbestos Corp, Canada, q.
Asbestos Corp. Of Canada. pfd.
Canadian Woolens. pfd. q,
Central Coal & Coke. a. 11aTo Mar 81 Apr. 10
Central Coal & Coke, pfd. q.
1Ass Mar. 81 Apr. Is
Great States Petroleum c.,
m, 20 .................M Mar 20 Apr. /
Indiana Pipe Line Co., a, 81. Apr. "a May 10
Kansas Gas & Electric Co.,
Keystone Finance Corp, pfd,
a, 1X% ................Ma Mar. 20 Mar. 81
Pacific Gas 4 Elec., q. $1.25. Mar. 81 Apr. Is
Porto Rico Rys., pfd, q. 1A9e. Mar. Is Apr. 1
Shawinigan Water & Power,
q, 1%% ................... Mar. q Apr. 10
o. 8. Industrial Alcohol Co., a.
pfd, q, 1E& ............. Mar. 81 Apr. 10
Evening star., 1920-03-20
French Coal Strike Settled.

PARIS, March 1s.-The strike OF the
coal miners in the northern district
was settled tonight.
mine owners and the mine workers,
who had been unable to reach an
agreement, referred the disputed
points to the minister of labor for
arbitration. The minister rendered
his decision tonight, and II was ratf-
fed by both parties to the dispute.
Evening star., 1920-03-20
OHIO CITIES GAS co.
EAS CHANGED ITS NAME

COLUMBUS. Ohio, March se.-Di-
elcters of the Ohio Cities Gas Com
panS have voted TO change the name OF
the company to the Pure Oil Company.
Reason given for the change is that
the oil business conducted by the COM
pany is much greater than the gas
business
The Pure Oil Company. incorporated
IN Ohio for nominal amount, was q
subsidiary.
Tho directors also voted to issue
$l6,00O.e60 in per cent preferred
stock. $1e0 par and convertible.
Evening star., 1920-03-20
Money and Exchange.

NEW YORK. March eo.-Mercantile
paper. sEae&.
Foreign exchange rates declined
slightly IN today's trading in the local
market. Demand bills on the English
pound startling closed at $3fsE. or
2E cents below yesterdays fnal
prices Franc checks closed at the
rate Of 1877. or 15 centfmes; lire
checks at 1882. or 81 confines. and
Swiss cables at 5.s5. of centfmes.
German marks were quoted at l.a9
cents each.
Evening star., 1920-03-20
euotatieRS for Silver.

NEW YORK, March za-Bar silver
1.2S. Mexican dollars. s5K.
Evening star., 1920-03-20
Stock Exchange

SALES.
Capital T action SIS $500 at 93L.
Washington Railway and Electric pfd., is al
81.
IAnston, 2 at So.
Columbia Graphophone COM, at ass.
After call:
Capital Traction. 8 at s6Is, 10 at ssh. 10 at
s6k.
LAnston Monotype. 20 At e2h. 70 at 62H.
Washington Gas. 25 At 46, at <6. 3 At ~.
Bid and Asked Prices
Evening star., 1920-03-20
Csnsda Stops Sugar Exports.

OTTAWA. March e0eThe Canadian
trade commission has announced il
will issue no licenses FOR export Of
sugar until Canadian demands were
satisfied. and advised consumers to
begin accumulatfng supplies.
Evening star., 1920-03-20
Des Moines Picked for Convention.

RICHMOND. Va. March 2o-Des
Moines. Iowa, has been selected as the
next convention city by the delegates Of
the National Association OF Insurance
Agents. The session will be held in Oc-
tober.
Evening star., 1920-03-20
POWDER STOCKS.
NEW YeRk BANK STATEMENT.

NEW YORK. March 2e.-The actual
condition of clearing house banks and
trust companies for the week shows
that the reserve held is $7,97o, zoe be-
low. legal requirements. This Is a
decrease of $37,015,42e from last week.
Evening star., 1920-03-20

HOURLY SALES OF STOCKS.
II am. $50 800 12M.... 67l 200
New-York tribune., 1920-01-04
AC Spark Plugs Take
Trip to ssRoof of World''
Function Perfectly When New
Altitude Record in Airplane
Is Set by Roland RohIfs

With tho peace-time fights Of tho
american airplane drawing the focus
OF the spotlight that is thrown on tho
most spectacular feats, AC spark plug,
were afforded an opportunity to diy-
firguixa Themselves in a comparative
1919. ""' 'ns
These plugs, which are seasoned
laurel winners on the road racinr
course and the automobile speedwav
proved as dependable in the sparkling
of alrplanc engines, as evidenced by
the fact that new worlds altitud.
records for triDlancs and seaplancs
were established during the last
twelve months by AC equipped air.
craft.
In tho realm Of the air tho most
notable accomplishment. in which AC's
participated was the climb with Ro-
land Rohlfs and the Curtiss Wasp TO
the roof of the world, xix and one-
half miles above the ground, tho pilot
depending on ACs to spark tho 400
horsepower engine that crrricd him 10
height Of 34,gf0 fcet.
IN this flight the plugs we're called
Upon 10 function under the greatest
of temperature differences, the motors
tremendous explosive heat being a.
ons end, while tho temperature was ap
low - A. degrees below zero q.
Kohlfs's highest point Of climb. De-
spite the unparalleled ssyerity Of this
test, neither = miss uey = cracked
p2reslsin wAs uotsd, as1ordine ~ the
New-York tribune., 1920-01-04
Appersons Keeping
Up Past Record for
Distinctive Cars
Originality and Appearance
Are Keynotes Stressed in
New Models i'm Sedans and
the Larger Limousines
By T. e. Jarrard
Vice-President, Apperson Automobile
Company

Some time back cur company saw
that the demand for inclosed types
was increasing. 1t could be seen that
the inclosed car was coming more
and more into popular demand. AT
first, of course, the inclosed bodies
were thought of only for winter use
but as their general adaptability fo1
all year service was learned. and as
improvements simplifying ther con-
struction were made. the public came
to see that the inclosed type Of body
is the ideal one for constant all-year
driving. Therefore, nothing was more
natural than that the Apperson
Brothers should consider getting into
pretty general production of in
closed cars.
Fine motor coach work comes
naturally to Appersons as it is q
natural heritage of the we'll known
Apperson taste in motor car designing
1t is fact, recognized throughout
motordom, that the Apperson Brothers
pioneered in the field of custom made
bodies. They lead in design as they
lead in construction of their chassis.
A brief reference to photographs Of
Apperson cars of years gone by
shows how Apperson genius graspec
the basic points of good taste in body
building as they early conquered the
problems of the internal combustion
motor.
Perhaps no year has been so pro.
life in artistic results as the present
one. Both as to construction anc
attention to detail, it need only be
New-York tribune., 1920-01-04

bly, building will be devoted to paint
ing operations on chassis, wheels,
bodies and metal parts. The body ID
upholstered and trimmed up generally
in this building. which will also con-
tain the enameling equipment foI
enameling tenders, hoods, radiator COW
ers and dozens of other metal parts.
The space occupied by the final
painting and enameling operations will
be supplied with air from which all
dirt has been washed, so that no stray
speck of dust will settle on a freshly
painted surface.
The storage building for finished
cars and service stock parts, adjoin-
ing the assembly building, will be 48O
feet long and 140 feet wide. More
than half of this building will give
storage for 1000 finished automobiles
which will be of great assistance tc
the factory in making prompt deliver
les to customers. The remainder will
be devoted to the storage of service
stock.
Directly adjoining the storage build
ing will be the loading dock" with
trackage for the placing at one time
of fifty railroad cars for the delivery
of finished Cadillacs.
New-York tribune., 1920-01-04

creasing the present range of buyers.
All agricultural sections have been
and are now extremely prosperous,
therefore, very ready buyers.
E-The general wealth of this coun-
= try, coupled with the general spirit
of American prosperity, makes the
car necessity and it finds ready
sale with the multitude.
The approximate production OF the
automobile industry for the year end
ed June, 1919, was 100000. Based on
the approximate proposed plans for the
year ending June, 1920, it is estimated
that the total output will be about
100000. The average life of cars
made during recent years is figured at
about four years. On this basis manu-
facturers would have a healthy renewal
business ahead of them of about
business up to the point of market
saturation. The point of saturation is
roughly figured at 8,500,000, this figure
taking into account the increased use
of commercial cars. Production on this
basis OF the 1920 rate would continue
through 1922, after which the great
bulk of production would be for re-
newals or requirements.
Conditions that might affect or pre-
vent such a proposed output because of
the excellent general business condi-
t:ons would come under two general
heads:
General labor unrest, which would
make manufacturing OF all lines diff
ficult. as we'll as cause general wage
earners to suffer.
The economic conditions of the
world, in which the United States
being the large credit nation, must
play an important part.
Under the heading of labor unrest I
feel optimistic, because there is a gen.
eral feeling of capital and labor work
ing closer together than ever before.
Also because labor in general is care
fully analyzing and reasoning and ap-
plying itself in way that is of mutual
ment is at least attempting to take
some definite stand in order to set out
some program which will assist in re-
ducing the general high cost of living
Action is already taking place in regard
to the exorbitant income taxes and
levies, figuring these out on a different
basis and in such a way that they will
not become the ultimate burden on the
ultimate consumer.
The extremely important part comes
under the credits to be established, as
and in doing SO we must consider the
wealth of those countries and their OBJ
legations in order to arrive at a net
figure from a credit standpoint. We
must, however, go far beyond that, be-
cause in my mind the credit of a coun-
try will have to be considered on prac-
tically the same basis as the credit OF
a corporation or individual, and that is
on the character of the country" and
its capacity to accomplish results"
In view Of the fact that we are the
large credit nation of the world, and
the one that these other countries looI
to for help on foodstuffs and materials
in general, as well as money, feel very
optimistic that our government will
take the character Of those nations will
which it Is dealing and the capacit,
which they have for accomplishing re-
suits, as the all important factors. anc
from that basis grant them excellent
credits and loan them large amounts.
New-York tribune., 1920-01-04
|Refnenents in
Type So, the New
Cadillac Eieh,

A new model, the Type 50. 1, =.
sented by the Cadillac Motor Car cs' ~
pany for the coming season wss!
this car the Cadillac Company sas m
pletes its sixth year of eight.cy,,ns.
production with more than snsss
eight-cylinder cars on the road ''Ns
The new model shows a contina..
OF substantial Cadillac construst;ssa contsa
features. 1sslse
The ten standard body STYLES ;,.,.,
seven inclosed and three omen mossss ,ses
New body lines are most evident t;vss,s H. s
familiar touring model. This v..as ne
car has been heightened out and nls..s 49,
on 132inch wheel base. elim;rssseasc
body overhang at the rear and s..ae n.as;!e
ing roomy rear compartment. q. ~
as excellent road qualities. Extrs s"' ssa
seats are generous in size and wal, :.
holstered. "sa "
There are two other standara
models besides the touring car, nSs.
ton, the Cadillac four-passenger. mass, n.ss,
and a passenger roadster. psI
have the low lines and model;pr !.
semi-sport cars without departinc ~
substantial Cadillac characterists.s' ''u
Besides the three open cars thers :.
seven standard inclosed models h.;sss ~
built this year. In addition to the VIZ rsS
known four-passenger Victoria moS.s .a
there will be smaller -passensss
coupe on the same lines. W
A four-pasSenger Sedan on the -,
inch wheel base and seven-passen.s.
Suburban on the 132-inch wheel H..
are continued from last year.
New-York tribune., 1920-01-04
Engineering Creed
OF Harry C.. Stutz

i BELIEVE, first Of all, that the real
i business Of anything mechanical
is to work we'll and wear well.
Therefore, hold simplicity, strength.
and serviceability above all else.
an engineered product can be both
strong and we'll designed. Then
beauty can be built around these
features.
hold that true beauty is always
simple and so avoid all unnecessary
embellishments.
Real beauty, too, is based on gen.
uineness, and it cannot be obtained
by using cheap or initiative mate
riais. l insist on the best of every
thing and never tolerate substitutes
or seconds"
Having strength and beauty, /
bear in mind the point Of economy
and insist on applying the very limit
of practical engineering to the
motor, so that it may get the last
ounce of power out of every drop of
fuel.
A motor car can never be any
better than the shop in which it is
built and the men who build it.
You can't get quality except in a
rigidly disciplined shop from which
all workmen except the most con-
scientious and expert are barred.
Finally, | believe there is point
in any factory's expansion where
the penalty for Increased produc-
tion may become decreased quality.
and / will never build any more cars
than l can build we'll.
New-York tribune., 1920-01-04
Resales Are the Acid
Test Of Car Pon,llarifx

There is probably no test Of the
real value of an automobile to-day so
strong as that of repurchase. From
the moment that a man or woman buys
a car and his or her name becomes
public property through the publication
Of state registration lists automobile
statesmen set out to win them over to
the cars which they are selling.
So, after an owner has tried a car
for a few months Or year the real
merits of the car, or it's defects, if it
has any, from the standpoint of his or
her particular requirements, must of
necessity have strong bearing when
the time comes around to trade in for
a new one.
"And it is right here,s says Harry
]. De Bear, manager Of the Maxwell
Chalmers branch in New York City,
chat we stand firm. We have a
high percentage of resales on Chalmers
cars. The Chalmers line has been sold
on Broadway for more than twelve
years and we have many owners who
have literally grown up with the COM
pany. We are mighty proud of our
long list Of historic owners, if we may
refer to them in this way"
New-York tribune., 1920-01-04
Halls Cadillac's
New Plant as
"Most Modern:
Collins, President of Com
pany, Describes Building
i'm Which Future Big
Output Will Be Made
BY r. Fl. Collins
President and General Manager,
Cadillac Motor Cor Company

The most modern automobile factory
in the world! That is the way engi-
neers describe the new plant now be-
ing erected for the Cadillac Motor Car
Company in Detroit.
From the standpoint of railroad IA
cilities the site could not be surpassed.
1t comprises forty-six acres, with the
main line of the Michigan Central
Railroad on one side and the freight
tracks of the Lake Shore & Michigan
Southern on the other.
The buildings of this new plant will
contain 100000 square feet, or forty
eight acres, of floor space, room
enough for 100000 people to stand
without too much crowding.
All the buildings will be four stories
in height, but to allow for the inevi-
table expansion they have been so de-
signed that two additional stories can
be added at any time: In the design
and construction of this new factory
number of interesting features have
been worked out by the du Pont En-
gineering Company, Of Wilmington,
Del.
On the concrete floors will be laid
heavy maple flooring to provide COM
fort for the workmen, who find con-
crete too unyielding a surface >on
which to stand all day.
Of the eight buildings comprising
the factory the largest is the manufac-
turing building, 800 feet long and 600
feet wide, with total floor space of
100000 square feet as at present being
built, or 1,750,00O square feet when it
is carried to its ultimate height of six
stories. The courts between the wings
will be covered with glass roofs at the
height of the first floor ceiling. g.~s@This
will give an area on the first floor 800
feet long and 600 feet wide, or 48O, 900
square feet.
Conveniently located near the manu-
featuring building will be the heat
treat building, 500 feet long and so
feet wide. In this building magic is
performed which is entirely beyond
the ken Of the layman, in bringing
metal parts to just the hardness re-
quired to withstand the particular
service Of those parts.
The assembly building will be the
second largest building in the plant,
800 feet long and $50 feet wide, with
a total floor area of 100000 square feet
AS in the manufacturing building the
court will be covered with glass roof.
giving an unbroken area on the ground
floor Of $4,000 square feet.
A considerable portion of the assem-
New-York tribune., 1920-01-04

After learning the theories of automo
bile lb5 {! construction he topped off his
work with the Locomobile Company.
In 1916 the elder Maibohm turned
over to his son the active management
Of the plant. An experimental depart
ment was organized and work was
started on the Maibohm automobile
This was light car. The company
was ready to increase its production
when the United States entered the
war.
One month after the armistice was
signed the Maibohm plant burned down
This proved to be blessing in dis
guise. Undivided attention was now
given to the manufacture of three new
Maibohm models, temporary quarters
were rented in Racine, and within one
week the new factory was turning out
cars. The company was now faced with
the problem Of finding new location,
and Sandusky was selected as the
future home Of the Maibohm car.
Twenty-Five acres Of ground were
purchased for the erection Of the new
New-York tribune., 1920-01-04

Looking 'Em Over
The Nash Six chassis is one of the
big attractions at the automobile show.
New-York tribune., 1920-01-04
Prosperous Year i'm
Auto Industry, Is
View of G.. A. Kissel
Change From Wartime Ba.
sis Will Call for Big Out
put; Government Action
on Foreign Credits Factor
By George a. kissel
PRECEDENT, Kissel Motor Car Company

In considering the future Of the auto
mobile industry we are treating with
something that is really a tigurable
proposition.
The main reasons for feeling opti-
mistic for 1920 can perhaps best be
summed up in the following:
Almost total curtailment Of auto
mobile production during the wsr
period.
C-During the war and for economic
reasons, automobiles were used for
much longer period, leaving many
untitled outstanding orders.
2-Many people during the war pc
riod, have earned considerably
more than ever before, thereby in
New-York tribune., 1920-01-04

said that these inclosed bodies
match, in every particular, the Justly
famous Apperson chassis, which is q
product of twenty-six years of intensi-
fed engineering and manufacture.
Originality and distinction, coupled
with good judgment and discrimina-
tion, place these motor coaches in a
class by themselves. They are offered
IN every conceivable type.
From our line you can get fancy
town car, big, luxurious limousine
a classy brougham or the close-coupled,
low, rakish appearing sedans and
sedanettes.
New-York tribune., 1920-01-04

of H. c. Maibohm, now president of
the Maibohm Motors Company Be.
sides building the running gear of
carriages and wagons the members Of
the new concern interested themselves
in coach work.
The successes made by Ford, Olds
and other automobile pioneers con-
vinced the coachmaker of Racine that
the future of mis- business lay in the
manufacture .of automobiles. His son
was educated with this end in view