davidaulloa/AmericanStories huggingface dataset:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
MARKET WORKED
into NARROW RUT
Holiday influences Cut the Deal
ings Down to Small
Dimensions

New York, May 2S.--The professional
traders had virtually the field all 20
themselves in today's stock market.
There was pronounced Curtailment in
the volume of dealings accompanied by
distinct narrowing Of the fluctuations.
sumed a holiday appearance, which
was accentuated by the general indispo-
sition to take on new lines over tne
double holiday. On the other hand,
further covering of short commitments
impaired 4 degree of strength to the
market besides bringing a further re-
covery in most all parts of the list.
In the meantime, there was a gradual
diminishing of the business so that be-
fore midday the greater part Of the list
had worked into complete deadlock.
Nothing especially inspiring or in
vigorating was to be found in the over
night developments or the days news.
There was, however. a strong inclina-
tion to view matters generally in a more
hopeful light. and the tone of the ad-
vices of most Of the commission houses
was decidedly more cheerful. yet none
were encouraging any material exten-
sion of market commitments. To the
contrary, caution. continued the pass
word pretty well along the whole line
The continued apparently bountiful
supply of call funds at 6 per cent, and
the fact that loans carried over until
Tuesday. together with the reports that
further gold imports are impending, were
among the encouraging factors. Another
helpful influence was supplied in the
more favorable crop prospects. On oil
sides. however, II was recognized that
the apparent easier money conditions
were more superficial than real, and in
the event of any broadening of market
activity money would quickly stiffen up
again.
An unusual variety of stocks partici-
pated In the further rise of the morning
Steels, equipments and oils continued to
lead the way, with shippings, motors,
utilities, coppers and food specialties
Extreme gains of 2 to 4 points were
made by Mexican Petroleum, American
Car. Haskell & Barker, Stromberg,
United Fruit and Peoples Gas. Union
Pacific. Great Northern and New York
Central were foremost among the
stronger rails, the cheaper transporta-
tions also improving. Prices cased
irregularly before noon, when trading
became dull. Liberty bonds showed no
material change, but rates on London
reacted slightly.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
TONE OF LOCAL
MARKET STEADIER
Much of the Uneasiness Mani
tested in Preceding Sessions
Rapidly Disappearing

tone of the trading and in prices was
made in tOday's local market. The trad
ing was fairly active. much more 50. III
fact, than would have been reasonably
expected in view of the forthCOmius
holiday and other restricting influences.
The most encouraging development from
a sentimental viewpoint was the alb
sence Of liquidating pressure. so CON
spiCuous in the preceding sessions.
Uncasiness created by the rather sen.
sational character of the recent develop
ments in the local transit situation and
the apprehension conc erning the credit
initiation seems to be gradually disap
pearing. Camcr doliberation of either
of these subjects has made them ap-
pear much less mcnaCing. As n matter
Of fact. for the first time in weeks, bank
officials spoke encouragingIy Of the
money situation. \ slight but quite
distinct Improvement was said to be
noted.
In the first place. the belief was ex-
pressed that the apex of high money
rates had been reached. In the sec
Ond place. a more generous policy was
renewals especially wherc the col
lateral was Of Al order. Then
again, it was said. that most of the
lOaning institutions were getting into
n position wherein wider accommoda-
tiOns could be granted to regular Gus
toners. In brief. it was the first ray
of light through the dark stormy clouds
which have been Overhanging the finan-
cial horizon seen in months.
Both Philadelphia Rapid Transit aud
Philadelphia Electric had much better
market. The first name made a fur
thcr recovery 20 1855. or 36S points
above the bottom of Tuesday. PhiIa-
deIphia Electric also had better sup
port and sold up to 21, although
shaded under that figure again, At the
same time Union Traction moved up to
81. but later fell back 10 301s. United
Gas Improvement was firm on small
dealings at 42A
In the other local stocks trading was
a holiday character. Electric Storage
Battery moved up 81 to III. Lake Su-
peror after rallying to Il reacted to
l3"s. American Stores was unchanged
at a. Pennsylvania Railroad contin-
uod to be- taken by small buyers and
reached 39hs The continued thinness
Of the market for the inactive stocks
vas reflected in 81 decline in Amcrl-
ran Gas tc 80.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
cbas. s. Pstton's 5oth Anniversary

Charles s. Patton, of the firm OF
Saier & Stevenson. will tomorrow cele-
brate his fftleth anniversary with that
firm. Mr. Patton started as a clerk,
from which position he advanced to
manager When the old firm. compris-
ing John Sailer and George Stevenson,
dissolved about ten years ago, John NJ.
Sailer and George Stevenson, sons of the
original Arm, formed q partnership with
Mr.. Patton. continuing the old firm
name OF Sailer g. Stevenson. Upon the
death OF Mr.. Stevenson's son, the part
nership was continued by Mr.. Patton
and Mr.. Saier The firm was one of
the few old established banking houses
which remained in the old financial dis
trict, and has continued to do business
at Third and Chestnut streets for over
a half century Mr., Patton has a wide
circle OF friends and Is regarded as one
of the best posted bond men In Philadel-
phIa He Is a member OF the Manu-
and has always been active In Masonic
circles.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
Commodity Markets
COTTON MARKET

New York, May 2s.--The early cot
ton market was quiet and without much
feature and seemed to represent an ef
fort on the part of traders to adjust
their accounts for over the holidays.
With the exception of November,
which dropped 35 points on first sales,
opening prices were unchanged to 10
points higher, following strength in the
stock market and a little Wall street
buying. 1t then cased of under local
offerings about 10 points, but rallied
again.
Early private weather news was gen
orally fayorablr. reporting showers in
North Texas and Georgia. with gem
orally fair conditions predicted for the
East and partly cloudy for the West.
Later the market was steady and a
couple of points above last nights
close.
Receipts at the ports for the day are
estimated at 5000 bales against $4,000 a
week ago and 5l,256 bales year ago,
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
Baldwin Pays Regular pIyIdends

Baldwin Locomotive directors today
declared dividend OF ~ per cent on
dividend OF u per cent on the pre-
ferred, The dividend Just declared on
the common is the same amount as last
November. when Disbursements we're
resumed on tho common, Both nre-
ferred and common dividends are pay
able July l TO stock Of record June s.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28

Raw sugar Market steady

New York, May 2s.--Under further
offerings yesterday the raw sugar
market declined 1h cents. The tone OF
the market early today was steady and
II is thought further sales will be at an
nounced yesterday ArbucSie Brothers
quote 2sh cents for June delivery on
sugars refined from high -priced raws.
The American is allottins at. 22m cents
and the National at 21M cents.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
YEsTERDAY,S FlNAL ornrArlnNs
OPENING QUOTATIONS.
MoNEY.LENplNG RATES

NEW YORK-Money on call, both
classes Of collateral. opened today at &
per cent for lending and renewing
The prospects Of a gradual relp Xation
OF the credits strain through a speeding
up of the beated shipments of goods
purchased, hut not paid for, together
WIN the gold Imports actual and ex-
pected were reflected In slightly easier
tone in the market for fixed datS funds
Although brokers were bidding sH
for ninety days and four months on in
dustr!al loans. some business was done
at 81 per cent, the lowest rate for
transactions iH several months past
In prime bank RcCeptanCes. the usual
list OF offerings was reported and rates
were nominally unchanged at 6A dpsh
per cent
New York banks are holding off for
"a per cent on prime mercantile paper
Very little business at any rate ia being
done locally. In the country the
minimum discount figure is IL DER Der
cent
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
NEW ayoRk cortsr MAGE q

New York. May 2S.---Tbe m..s'.
coffee futures opened quiet ma ~ ~
ular, two points higher to on. a'es-
decline, with trading confined - point
or two 10 March. 10y
Right after the call, tbo
steadied and, in the absence y, Na "r
inss and fair demand in the ssr,.. y.l
Der delivery, prices advanced Q sH ~.
points net.
Coffee has been under press,,.
various causes, for a long timo tie ior
the. statistical position getting st,oSlth WIN
and, with no real bull leader j;,poser h,
been difficult to maintain any adva.,n ~ mas
Around II o'clock July sold M aIse; IA "a
and September up to 14.00. ~ io'O
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
FOREIGN EXCHANGE

New York. May 2S.-Recessions were
general in the opening quotations OF
the foreign exchange market this morn
ing. sterling being quoted at 391 and
cables 3.91a4. Francs fell to 1900 for
cables and checks to 1902. Lire was
quoted at 1900 for cables and checks at
1902, Marks were off 20 to 2.52
Other quotations were:
Swiss cables 5.56. checks 55S; Bel
gian cables 1880. checks 1852 guilder
cables 361a checks 369s pesetas cables
1850, checks 1865; Stockholm cables
2l.I0, checks 21.60; Christiana cables
1890. checks 1920; Copenhagen cables
1870 checks 1850.
All the prime issues were weak
around midday. Sterling eascd off 10
39OA for demand an 3.91 for cables,
Francs we're quote at 1880 for cables
and 1862 for checks Lire cables sold
at 1925 and checks at l727. Marks
also eased off to 2.3S
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
Revoke Two chartAra

Harrisburg. May 28.--(By A. P.)-
At the instance Of the attorney general
the Dauphin County Court has issued
decrees revoking charters of the Colver
Bank, of Colver, and the American
Three Way Prism Co., Philadelphia.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
PHILADELPHIA.-Can & nar cer

time. s per cent; commercial paper
three to six months, per cent.
(NOte-These are merely nominal
quotations. as the legal rate Of interest
In the state of Pennsylvania liz fxed al
8 per cent. Plus premium and commits
days is loamng at per cent. whIle
commercial paper from three TO ak
months is being offered at 7 and 7X
per cent?
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
SI5O.OOO WANTED

In suitable instaIlmeuts. to advertise a staPIe
product manufactured In Philadelphia by
new process with attractive proht. Inyesti-
aatiun Will be satisfactory In every detail.
221. LEDGER OFFICE.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
Financial Briefs

The average price OF twenty active
industrial stocks advanced ! per cent
yesterday to 9l.0l while twenty rail-
roads advanced 035 per cent to T172.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28

The New York Subtreasury gained
S729, 900 from the banks yesterday, maxi
ing a cash net gain since Friday Of
$6,0l3,e00.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
GRAIN MARKET

Chicago, May 2S.-Under fairly gen
eral selling by commission houses the
corn market opened lower today. Sup
port was poor for time, but on the
break there was buying to cover shorts
and July moved up to net gain Of Ac
and September to the previous close.
Following this, there we're recessions.
Planting Of the crop Is being hurried.
Receipts were 81 cars
Nav opened 1c lower, at Sl.03. July
was quoted at S1.G7l4 to $1.67 at the
outset. against 81 GSA at the close yes
terday. but rallied to 81 .8s. September
started at 81 .55H to $1.541a, but i'm.
proved to yesterdays last price OF
81 56H.
Oats opened easier under general sell
ing. September was under pressure by
western houses After the start, there
was little rally. Receipts here today
were u cars.
May opened. unchanged, at $1.04.
July was quoted at $3.50 to $685. at
the outset, but rallied TO yesterday +
price Of S9hc. September started at
1890 to 759sC, against 76bc at the
close Yesterday.
Receipts of wheat here today were 18
cars at Minneapolis 1S5 cars and at
Duluth AZ ears.
Leading futures ranged as follows:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28

yesterday We're W. 'f5F'oSs ''nA 0'sA''ns'
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28

. ...,. Liverpool Cotton .
Liverpool, May 2s.--The cottor
change was not In session today ."
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-28
BANK CLEARIN6S

Bank clsRrinEs today COMPARED with cor
r'SDondins day alSS't two ySs;Ss5' ,o,s
Phile,.., ,sl,45s,Ose Holiday s75. 40 i0s
Baltlpl'e 8.420. $40 Holiday .,,'....,.
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1920-08-07
DIR. Edmunds Pleases
\ Olanta Audience

Olanta, August S.-This community
had the delightful privilege yesterday
afternoon Of hearing at the Methodist
church DIR. S. III. Edmunds, superin-
tendent of Sumter city public schools,
deliver a most engaging address. A
representative audience greeted the
learned speaker as he briefly, but with
distinctly forceful thought, discoursed
upon certain baneful conditions that
follow in the wake of the great war,
namely lowering the standard of
mans ideal Of womanhood, profanity.
gambling. and an extravagant materi-
aiism. Deploring the fact that there
Is no reign of idealism. he insisted
that the people may recover in part
their lost inheritance herein by al
ways putting first things first. Thrill
ing tributes were paid Woodrow Will
son and Robert Edward Lee.
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1920-08-07
HARRISON ISSUES
STATEMENT
On Recent Increase Granted By
Interstate Commission
COMPLETES CIRCUIT OF
MANAGEMENT
Private Management Will Re-
sumo Practice of Competitive
Efficiency -
Special to the Daily Item.

Special to the Daily Item.
Washington, August 3--FairfaY
Harrison, president of the Southern
Railway system said today: THE tre-
mendous increase of railroad rates au-
thorized by the interstate commerce
commission seems to complete the
circuit of government management of
the railroads industry. 1t was Ineces-
sary TO carry the scale of expenses set
up by the railway administration but
1t must cause grave concern as to its
economical consequences. It now re-
mains for private management to re-
sumo the practice of competitive eff
cheney and self reliant initiative which
distinguished the American Railroads
during so many years and to justify
the preference or the American people
Tor that form of administration by
making possible not only the success
OF individual companies and the pros
perity Of their loyal employees but a
constant and progressive reduction of
rates accomplished by an enlargement
of service to. the public such as NAV
be traced through the old fashion
railroad statistics, No one can expect
this to be accomplished over night
considering the present conditions but
start can be made at once relying
on the cooperation and support of the
employees the management of the
Southern railway system will make the
effort"
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1920-08-07
IS MOTTO
FORCAMP PAICNS
Managers Will Be Careful Of
Expenditures
REED SAYS ECONOMY
WILL BE ENFORCED
Will Not Go So Far AS To Elm
mate Usual Trumpet Blare

Chicago, August 1--Presidentia
campaigns this year are going to be
rum on thrifh basis, in the opinion
or several members of the Senate
committee which has been investi-
eating pre-cOnvention expenditures of
the various candidates who sought
nomination by one or the other of the
major parties.
Sen; tors Kenyon (Rep.) Of Iowa,
Reed (Dem.) OF Missouri and Spencer
(Rep.) of Missouri all declare that
the campaigns this year will be con-
Quoted with more care ard considera-
ton for the financial end than ever
before
The chairman Of tl Senate investi-
eating committee, Mr.. Kenyon, said
the preconvention disclosures made
through the committee, and the fact
that 1t was instructed by congress also
to investigate presidential campaigns
Will make the political managers care
full of their expenditures and no dis
bnrsement which might cause unfav-
orable comment, even from oppo-
nents, will be made.
Il don't mean to say that anyone
is AFRAID of the committee" said Sem
ator Kenyon, "but the politicians rea-
lize that their expenditures are going
TO be scrutinized carefully and conse-
quently they are going to cut out
many OF the usual items"
Senator Reed said that economy
would be forced on the political di-
rectors because they would not have
so many large subscriptions as hereto
fore.
Big business does not like be
publicly mixed in politics and many OF
the customary large subscriptions will
be cut down." he said.
Senator Spencer. also expressed be-
lief that there would be considerable
thrift in the campaigns hut declared
IL would never go SO far 'as to elimi-
nate the usual trumpet blhre."
Where is a question, however. that
the campaigns this year are going
to be handled on very careful finan,
cial basis" he said
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1920-08-07
GERMAN SHIPS
in FIGHTING
Several Vessels Surrendered
Have Seen Service
WARSHIPS OPEN TO
PUBLIC INSPECTION
Will Send Them to Other Ports
to Let the People See Them

washington, August 3-Four of the
fve German warships allocated to the
United States for experimental pur-
poses were in the thick Of the fight-
Ing at the battle of Jutland, according
to naval intelligence records here.
The vessels are due at New York from
Brest, France. this week and under
y clause Of the peace treaty they must
be DESTROYED within one year after
their arrival
The light cruiser Frankfort, now a
wreck in machinery and being towed
to the United States by the transport
Hancock was the first ship in the Ger
man battle line when Il collided with
the British grand fleet. while the 3d.,
900 ton dreadnaught Ostfriesland was
the ninth ship in the line, Immediately
In the rear of the flagship of the Ger
man commander in chief, Admiral
Scheer. = sa,4
or the three destroyers, all OF which
are being towed over us a result OF
their submersion with the German
| fleet at Scapa Flow, the G-102 and the
V-43 were in the forefront of the
lighting throughout the Jutland en-
Igagement.
heading division of four scout
cruisers that bore the brun of the
British fire at the opening of the en-
gagement,, the Frankfurt. flagship Of
Rear Admiral Brodicker, was hit four
times, but with a small calibre shell
n each instance and stayed in the
,ght 40 the finish. The third cruiser
behind her was sunk at the opening
OF the engagement. The Frankfurt,
which has speed of 2S knots, is be-
ieved to have participated also in
aids on the British coast.
Although she was well up in line
and her 12-inch guns worked
throughout contact with the British
fleet. the dreadnaught Ostfriesland,
flagship OF Vive Admiral Schmidt;
commanding battle squadron No. l.,
escaped without q major blow, so far
as naval records here disclose. but was
damaged later by hitting a mine dur
Ing the withdrawal to Wilhelmshaven.
or the two destroyers, the G-1O2,
was with the scouting forces, close to
the Frankfurt. at the opening of the
battle. She took part in the DESTROYER
attack on the British battle cruiser di-
visions at 1880 p. m., and later in the
general engagement with British de-
stroyers sent out to cover the battle
cruisers. The v-43 also was in the
thick or the fight and was included in
the fiotilla that LAUNCHED the destroy
err attack under cover of which the
German fleet began its, withdrawal.
The third destroyer In the group. the
-l22. Is believed to have been com
pleted at the close of the war.
The warships will he opened to pub
lie inspection shortly after their arri-
val at New York and the Navy De-
partment now is considering plans to
send them to other ports AS only
the Ostfriesland is able to proceed
under her own power. however, she
may be the only one of the group
sent on an exhibition tour. The three
destroyers'are scheduled to go to Nor
folk In two weeks.
During the transatlantic tyip Can
tain Julius +. Hellweg, United States
Navy, will he in charge of the fleet.
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1920-08-07
SHIPPING BOARD
in TROUBLE
No Buyers Found For Twenty
One Ships
OPERATORS SCARED
OF BAD RECORD
Over Five Hundred Ships Have
Been Delivered to Board

Washington, August 3-Disposal of
more than 100000 tons of wooden
shipping-406 vessels of various types
built as a part of the governments
war time merchant marine program
is one of the most difficult problems
facing the Shipping Board. Twenty
one, OF the craft, aggregating $4,000
deadweight tons, were offered recent
ly. but no buyers were found.
Only 1914 of these wooden craft are
now in operation. Seventy-th three are
tied up at various ports under manag-
ing caretakers and 139 are in storage
yards. One hundred and seven of
those in storage" are finished hulls
while 80 are converted barges.
Officials of the board say that when
the serviceability of the wooden feet
has been demonstrated little difficult
ty. will be experienced in turning ii
over to private ownership at about
$50 per ton. These vessels were built
in an emergency, many of them OF
green timber, and some of them made
poor showings year and two years
ago, but now that they have seasoned,
officers of the board consider them
practicable cargo carriers.
Because of the bad record of some
of the vessels operators have con-
demned them ALL officials declare,
whereas, the records of those now In
operation show very creditable per-
formances. One wooden shin out OF
six round trips across the Atlantic.
at sea 500 days and in port an aeaual
number, was laid up for repairs. only
% days.
To date 532 wooden and composite
ships, aggregating 1876 $50 dead
weight tons, consisting OF 322 cargo
ships, one tanker, 115 finished. hulls.
ten sailing craft. So hulIs converted
into barges and 20 standard barges.
have been delivered to the board. A
total of ia of THESE vessels, aggre-
eating 3s7,2S5 deadweight tons. has
been sold and IL totalling 44,54e tons
have been lost at sea. ss
! The total cost of the construction
of this fleet. estimated by the board
at $40 deadweight ton. was approx
imatsly s3S3,o00, 900. Sale; of the
100000 tons now held by the board
at $50 per ton would yield $I35, 0O0.-
600. Those already sold brought
about $2S,O00,Q00 so that if the 40e
remaining in the governments pos
session are disposed of to private
owners the total loss through the
wooden ship venture woulc be some
thing like $4,000, 900. -
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1920-08-07
Gore Loses Out

81 Louis. Aug. 4--UnofficiaI news.
paper returns show that Gore is still
iar behihd Ferris I'm the democratic
hominatios for senator from Okla
homa. Davis. republican is leading
senator Spepser In Missouri for re
nomination And Long. democrat, has
small lead Cor Senator. Allen, of
KANSAS In leating for the republican n
gubernatoriai domination by safe
majority. Atkinpn, republican, and
Hyde Democrat are far ahead for
governor from Missouri, both are
drys.