davidaulloa/AmericanStories huggingface dataset:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03

The local market community has q
fresh mystery on its hands in the still
unexplained liquidating movement in
Philadelphia Rapid Transit stock I'm
der persistent liquidating pressure the
stock was forced down $3.50 to 215s--'
the lowest price touched since 1910. In
April last year the stock touched %.
While the source of the selling was
still undisclosed, the stock, especially
during the morning. was offered freely,
with sales for the forenoon aggregating
close to $500 shares, including one block
of 1000 shares, which changed hands
at 23%.
There was indirect evidence of the
liquidation by an estate, which. how
ever, could not be confirmed. It was
learned, nevertheless, most of the stock
offered since the movement started has
been in the same name. The name
given, however, was not generally
known in local financial circles. This
meant nothing, as it is common prac-
tice of many large holders to carry
stocks in other names than their own.
1t seemed to be about the most plaus-
ible explanation, as such persistent sell
ing recently witnessed could hardly be
influenced by such groundless theories of
hostility on the part of the new city
administration. The retention of Direc-
tor Twining at the head of Rapid
Transit Bureau should not be interpre-
ted as an act of hostility on the part of
Mayor Moore. Director Twining' s
thorough knowledge of the local transit
situation, by reason of his many years
connection with the Philadelphia Rapid
Transit system makes him a valuable
man, and there does not seem to be
any other as well fitted for the job.
The local transit problem is still far
from solution, and it would be much
better to have man familiar with the
situation to handle the city's interests
than one unfamiliar with the subject.
Director Twining has never taken a
hostile attitude toward the Rapid Tran
sit interests. He has only endeavored to
obtain the best service and terms for the
city in it's copartpership in the local
transit situation.
Neither could the selling movement be
attributed to the proposed dissolution
of the voting trust. This action means
nothing in SO far as the management of
the property is concerned. 1t simply
means return of the property to the
shareholders and leaving to their de =
cision and vote who shall be the man =
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03
STOCKS SUCCUMB
UNDER PRESSURE
Fact Strongly Impressed That a
Market Cannot Be Run
Without Money
SELLING WAS EAVY

New York. Feb. 3.-Thc New oTrk
Suns closing financial review today
says:
After having held relatively stable for
several days past, the stock market to-
day succumbed to the adverse occur
rences in the money and exchange mar
kets. There was nothing new or novel
in the high money rates which prevail
ed. or in the further break in exchange.
hut the cumulative effect Of these OF
these unpleasant reminders that all IS
not well in the credit situation told
more severely on security prices today
Those who had been lulled into a
state of confidence respecting the sta
bility of securities. merely because they
had thus far ignored danger signals
were rudely awakened today. Stocks
we're heavily sold right from the open
ing and were progressively weak during
the greater part of the stock exchange
session. 90
\ stock market cannot be run with
out money, opinion TO the contrary not %
withstauding. This hab nee the pri-
mary force initiating against values. \
contributary cause has been the record =
breaking decline in foreign exchange
rates. the downward movement contin ,
carving sterling. lire and francs 10
new low figures for all time.
Call loans renewed again this morn 70
ing at the significant figure of IL per
cent and ruled at this level during the
greater part of the day, despite steady
liouidatinn of securities. Time money
was almost unobtainable, although the
uuprecedented rates for this season o.
the wear were bid of ST. to " Per cent.
4 succession Of bear raids wa
launched against prices during the hrS'
half of the session and it was not untl
quotations had been pushed down an!
whore from TO s points that the marke
displayed rallying power.
The low figures of January were du
nIicsted and in some instances stock!
vent even lower. There was undoubt
edly good deal of real liquidation
some Of it forced, and much of it IN
duced BY encouragement as result o
the tense money situation from Whlci
bankers profess to ese no immediate re
lief.
Railroad stocks weakened in sympa
thv With industrials, but the selling il
this unarter was not heavy. Washing
ron sdvices respecting the progress
thc confrrees on the railroad bills Wer
hopeful. Senator Cummins was quote
as saving that a workable plan Tor n
consolidation of the railroads had pee
practically completed.
Prospects of an early agreement o
the Peace Treaty aroused no enthusiast
in sneculstive circles while stocks wer
on the toboggan. In fact, professions
Wall street was so gloomy today tina
some market psychologists regarded tn
time as ripe to buy stocks for a tur
at least.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03

HEAVY SELLING CARRIED
RAPID TRANSIT, TO NEW LOW
Source OF Recent Liquidation Remains Mystery-Eudene
Of Estate Holdings Coming Out

ayers. From the results obtained ma,
every one is satisfied with the StotoOsN ON
bury Mitten management, and do ~,
desire any change ~"
There was n story on the strcot :.
the effect that the insiders were soil I
ing. This can easily be nut down n,
simple tommyrot, and the sole cros aS
ton Of u disordered brain.
As might reasonably be expected IN,
pronounced weakness of Philadclnbo
the more timid holders of Union Trar.
ton. The selling of this stock was On
much smaller scale, but the market
was found to be exceedingly limited
hence drop in quotation Of 23s point,
to 33%, or within "a of the low price
touched on December %, when it sold
at 33. Philadelphia Traction on light
sales declined rs cents to 60A.
Outside of the traction stocks there
was not much activity. Lake Superior
Corporation continued to be offered
freely, but had a good market at 20h,
American Stores, after making a higher
opening, ran into fresh profit taking
carrying the stock back to 40A Phila.
dclphia Electric and United Gas I'm.
provement were only slightly changed
Electric Storage Battery was 81 lower
at 1877.
The weakness of the traction stocks
was communicated to the bond market
with the Electric and Peoples As dron.
ping LIZ to 63. United Railways trust
certificate 4s declined 21H per cent to
46la. Other changes were confined
within small fractions.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03
STATE GRADUATES 116
SO Students Get War-Service certi
ficates With Their Diplomas

State College, Pa, Feb. 3.-Ninety'
three of the 116 Penn state students
who received diplomas at the midyear
graduation exercises here last night,
were awarded certificates that showed
each had "unselfishly devoted himself
to the needs of his country in the great
war for the defense of democracy. y
Men who had formerly been affiliated
with the classes of 1915, 1917, 1913 and
1910 received those citations from the
college for having dropped their studies
to respond to the call of the nation.
The diplomas were awarded by Edwin
+. Sparks, president. An address was
delivered by Judge H. Walton Mitchell;
Of Pittsburgh, president of the board
of trustees of the college. Mr.. Sparks
talked to the graduates informally at
a meeting prior to- the ceremonies.
Judge Mitchell congratulated the meI
on their war record. Most oil the meI
in this war class" were commits
stoned officers in the army, and severa
were captains with overseas records
| One of those, George l.. Wright, o
| Norristovn, was decorated with thu
Croix dc Guerre and the Distinguishes
Service Cross.
The baccalaureate sermon was de
livered to the graduates Sunday morn
! ing by DIR. Earl Barnes, of Philadel'
mia. The second college semester
opened yesterday morning with an en-
rollment of more than 5000 students
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03
FURTHER DROP IN EXCHANGE
Market confusedly Weak With
Wide Variations In Rates

New York, Feb. 3.--The foreign ex-
change market this morning continued
confusedly weak, with wide variations
in rates. There was a crash in demand
sterling, that exchange dropping to 3.37
for demand and 33sH for cables
Franc cables were driven down to 13 80
and checks to 14.12.
Other quotations were:
Lire cables 16. 80, checks 1857 Swiss
cables 5.73, checks 5.75; guilder cables
37Ts, checks 37A pesetas cables 1915,
checks 1905; Stockholm cables 10. 40,
checks 10, 25; Christiania cables IT,.
checks 1880: Copenhagen cables 15. IS,
checks 1880; Belgian cables 1898,
checks 1886; marks, 1.07 Austrian
kronnen, 30
About midday. the market showed
continued weakness, especially in francs
and lire. Francs cables fell to II. .13
and checks to 14.15 and lire cables
touched 1888 and checks 1880, q drop
of 20 points from the very weak open
ing.
In mid afternoon Italian exchange
made the extraordinary quotations of
30 for cables and 1922 for checks.
Belgian exchange was somewhat stronger
than francs, being quoted at 1925 for
cables and 1927 for checks. French
cables were IA. 80, checks 14.37. De.
mand sterling is quoted at $50 and
cables at 1854. Marks are quoted at
los.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03
INCREASING PRESSURE GAVE
MARKET SEVERE BACKSET
Further Collapse Of Foreign Exchange and High Money Rates
Furnished Bear Cro,Ud Free Field

New York, Feb. 3.-Further col
lapse OF foreign exchange and high
money rates gave the bear party praC-
tically free field for their operations
in today's stock market. From the
outset the market displayed soft tone,
and during the morning this not only
became more pronounced, but gradu
ally and perSiStently extended to all
parts Of the list. Apparently little ef-
fort was made to stem the reactionary
current, but, on the contrary. there
seemed to be a general disposition to
let the market run its own course.
Apart from the domestic and inter
national money situation there was
nothing particularly unscttling in the
overnight developments or morning
news. II anything. the early advices
were rather cheerful. This included
the better prospects for agreement on
the peace treaty, also on railroad lcgis-
lation, while an agreement on the oil
leasing bill has been reached. With
money loaniug at Ii to 16 per cent
aud hard to get even at these prohibi
tive rates there was no incentive TO
support the market, extend or make
new commitments on the constructive
side.
In some quarters. however. more
hopeful view was taken on the stand
that the worst part of the money mar
ket strain is being seen now and in a
few weeks much more comfortable
condition will be enjoyed. Others failed
to see such hopeful signs and contended
money market conditions were likely to
work still tighter. This opinion was
based upon the practical withdrawal oi
tune loan funds aud the high tension
OF the call money market
The latter interests also regard the
( foreign exchange situation as an acutely
disturbing influence. The further col
lapse OF sterling today to new low
:, ater mark was spoken of Us indicating
N :, d;SnoSit;o, ,n rnfrain from, buyiDp
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03
EXPRESS MERGER
TO Be CONTINUED
Combination to Exist Under Prl-
vate Operation After Re'in-
quishment by Government
PLAN HAS MANY ADVANTAGES

New York. Feb. 3.-The American
Railway Express Co., voluntary or
panization of the big corporations OF the
eountry for war operation under the
railroad administration, will continue
as a combination under private opera
t;on after REIMBURSEMENT OF govern
ment control March |, it was announced
today by George c, Taylor, the presl-
dent.
The probability is that the American
Railway Express will continue TO exist
indefinitely. as it offers opportunity LOT
more efficient and economical operation
of the various companies whlch com
prise it. Mr.. Taylor said.
1t represents in the transportation
of oxDress packages what the United
states Postofice does in the handling
Of the mail. he pointed out, facilitating
interchange of traffic between individual
comnsuies and having the advantage
of general use of all equipment ana
junction points throughout the country.
Although definite action has not been
taken to continue the American Kan
way Express for q stated PERIOD, u VIII
operate under private control as II now
is until pending legislation in conJunc e
ton with the return or rallroads 70 their
owners is settled definitely, Mr.. Taylor
said.
Consideration of application to the
Interstate Commerce Commission for
an increase in express rates will be
taken up as soon as congressional action
! en- railroad legislation is taken, but
whether the increase to be asked will be
| large or small cannot be foretold now
/ he said.
The companies making up the Amer
ican Railway Express never have beer
directly under government control, Mr.
Taylor said. They are the Adams
American. Southern, Wells Fargo
Great Northern, Northern and Western
Express Companies.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03

credits on foreign countries until ship
nIents abroad come nearer to balancing
our exports.
Whatever were the real influences
Wall Street, at all events, suffered an
acute attack of pessimism, and the at
mosphere was heavily surcharged with
blue funk. For time it looked as IL
the entire trading outfit had switched
over to the bear side. In truth, the
ultra bearishncsS OF market sentiment
was altogether too pronounced to be Of
the genuine article. To be candid, too
many were altogether thinking. talking
and doing much the same thing TO have
the real ring 60 1t.
In the meantime stock values SUI =
fered severely, as there was a persistent
aud consistent lowering of prices all
along the line. Much the same us in
the preceding sessions, weakness con =.
ccntratcd in the high priced industrial
specialtics, particularly General Mo
tors, Crucible Steel, American Woolen
Endicott johnson, Mexican Petroleum
and motor specialties at extreme losses
OF three to seven points. Low priced
oils also suffered additional impair
ment.
Declines in the railroads for a time
we're nominal. but toward noon, when
the selling movement gained additional
momentum on rumors of free loan call
ing, they went with the rest OF the
! list.
Selling became active and broader
Letter. embracing the more substantial
| stocks. An unusual theory advanced II
connection with these offerings was .tha
stocks were being unloaded by forelgr
owners. who found it more advantageous
10 avail themselves of exchange rates
at this center.
The last hour. the most active of th'
dav witnessed further shrinkagc o
,,,orkst quotations with concurrent de
probation of exchange
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03
SUPPORT WITHDRAWN
ON COTTON EXCHANGE
Despite Frequent Rallies Market
Rules Barely Steady-Senti-
ment Against Advances

New York, Feb. 3.--While there were
frequent rallies, the cotton market ruled
barely steady today with prices crowd.
ing the earlier low level under local and
Wall street pressure in the absence of
important support.
There was nothing particularly fresh
in the news, but sentiment appeared to
be against advances for the moment and
rallies encountered renewed selling.
A prominent Wall street operator was
| said to have considerably increased his
line Of old crop shorts today, while a
spot firm, with southwestern headouar,
ters, was a large buyer of March on
scale down.
Toward . o'clock prices broke heavily
under general selling, based on further
unfavorable foreign exchange develop.
ments.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03
moNEY.LENDlNG RATES

NEW YORK-Money on call, both
mixed collateral and all industrial col
lateral, opened today II per cent for
lending and renewing.
Money brokers today described the
time money market as frozen. lhey
cynressed willingness to pay o per cent
for sixty and ninety days for any money
that might be available.
Prime bank acceptances are quoted at
5156 asa per cent for prime bills. The
IA per cent rate for money naturally
slackens business in acceptances.
Call loans on this class of business
still rule at per cent.
Prime mercantile paper is slow at q
minimum discount figure of 6 per cent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03

LONDON-Money is quoted ar 3ia
per cent. Discount rates, short bills,
4Ts per cent; three month bills, 59s
Der cent
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03
Prices Firm on Paris Bourse

Paris. Feb. 3.-Prices were firm on
the Rourse today. Three per cent rentes
were quoted at 5S francs 80 centimes {;
exchange on London, AZ francs 40 cen.
times ) per cent loan, 81 francs so
centimes. The dollar was quoted at IA
francs 40 centimes.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03
Rumors OF Irish Changes

London. Feb, 3.--The possible resig.
nation of James Ian Macpherson as
chief secretary for Ireland again is
being freely discussed in Dublin, and
rumor also is busy with the name of
Field Marshal French, the lord lieuten-
ant. according to the Daily Mails
Dublin correspondent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03
BANK cLEARINGS

Bank clearngs today compared with cor
responding day last two years:
1920 1919 1918
Boos%tttr Bo%t q. II, oso sci g2 737 So '376oSios
Chicago III 104. OlO So j05. 323 ......
Bait'Ts i6 265 024 l2632 0lO ......
NJ I'll 23s, 447 SIC 73N 27l. O39 asa. 1i5 34i
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03

aRates on outstanding certificates Of In
debtedness continue unchanged at An pc
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03

PHHLADELPHIA-Call, 6 per cent
time. & per cent; commercial paper,
three to six months, per cent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-03
Reserve Banks Discount Rata,

The first column gives rates for all
periods up to and including u fifteen.
day maturity, the second for Il pediod Of
sixteen to ninety days. The third and
fourth columns give the rates for ds.
counts for collateral loans secured By
government bonds or notes.
The New York herald., 1920-01-08
FOREIGN.

London bankers have a scheme
for financing the new Baltic
states, floating loans, guarantee.
ing the currency and obtaining
mOnopolies of raw materials, Tru-
man II. Talley cables from Lon
don.-Page 2, Part 2.
General Semenoff has ordered the Czech
osovaks in Siberia to remain guarding the
Trans-Siberian railway. but they are con-
tinuing their evacuation of the country
Page 2, Part 2.
British and italian Premiers and Foreign
Ministers cave London today for the Paris
conference. feeling optimistic regarding the
outcome Of egotiations.-Page 2, Part :.
The New York herald., 1920-01-08
FINANCIAL.

Stocks Irregular Liberty bonds react
slightly. Shares dealt In on the Curb re-
cover in closing period of market. Allied
exchange again declining. Resources of
state banking institutions show gain OF
81 151 502. .e92 Federal Reserve Bank again
marks up It's rate on acceptance,--Pages
A & and 6 Part |.
The New York herald., 1920-01-08
DEATHS.

Ballantyne. Ellen L., Lane, Carrie N,
Blair. George. Mansfield, Theodore
DALEY, George O., Marcher. Charles A..
Dixon, Harry, Meehan, Bernard,
Dockstader, Lucin, Miller, Margery L.,
Engelstein, Philip, Mclean. James,
Finley. George r., Poland. Daniel,
Fitzsimmons, NJ, Room. Rebecca f. L.,
Feldhusen. John, Sielken, Mae c,
Fletcher. George W., Smith. Mary NJ,
Foster. John NJ, Tierlync. Elizabeth,
GottheiI William s., Wenning w. j.
Hanstein. Samuel. Whitford, Julia,
Howard. Joseph B., Whmerdlng' D. NJ,
Hubba rd. John E., Wolf. Emma s..
Johnson Daniel W., Zurla, Teresa,
Kuhn, Mary,
The New York herald., 1920-01-08

Warfield Crowder, Phi. D.. RUTH
RIKER to JULIAN VAN NESS WHIP
PIE.
The New York herald., 1920-01-08
SPORT.

*Willam Fox offered 100000 to Demp-
nov for championship bout with Car
pentier and practically s25o.ooo to Car
nentier agreeing to give his net proiits 10
Red Cross-Page u. Part 2
IT, p. whitney's two-year-olds finish
first and second in first start at New
orloans.-Pagc y, Part :.
The New York herald., 1920-01-08
PERSONAL.

INFORMATION wanted by PETER II. MELLOW,
ptn North Terrace av., Mt. Vernon. \. ". OF
pernard Tceney who had furniture store at
oGJ I'd nv, f26th-ot sts.). Manhattan. IN tue year
1sI2 or any Of his heirs. -------
a ar New Years Eve affair with brother com
nunicatc with mother Immediately.
The New York herald., 1920-01-08
LOST AND FOUND.


nEoWN DOG, curcd tail. black marking
uprncc:" reward. CHRISTOPHER, fSb oth
TOJ ND--t.ADY'S SMALL HAND EAG, far up
town. Phone Chesca-iS5i and describe con
FOUND-SPAR. ~ feet long; picked NJ on sun.
INV December II. THOMAS HOMES. ga Court
~. brooklyn
fOsT-DTAMONp FISH BRooCTi. fins and tail
made OF gold Monday, January D. Return to
80 irving plncc. near 10th 81. Liheral reward.
IOST-SEvEN STONE DIAMOND BROOCH. with
rhain, between ftth and Worth ss January o.
TDST'-S95O LIBERTY BONDS: liberal reward
no questions asked. SAMUEL DEUTSCII, 300
broadway Phone 3'0i Worth
LOST PACKAGE EyEGBASSES. left in taxi ~
$40 Park Nv. Wclnesdav afternoon. Return TO
SUPERINTENDENT aud receive inward.
TOST--ONE EARRING. with large pearl and ono
diamond. liberal reward 4. LAJIi5RBACH a
DEoTHER TO Rroadwav.
Jseusrs g SO reward. lloLEfEAh i.s West
fNtb IT,
The New York herald., 1920-01-08
ENGAGE NJ TENTS

HERRNSTADT - LIDZ.-Mr. and Mrs.
Israel Lidz announce the engagement
OF their daughter, HELEN. TO Mr..
OSCAR r.. HERRNSTADT.
SoNNENSCHE1N - LAZARUS.-BELLE
LAZARUS to MURRAY SONNEN-
SCHEIN. Reception at Hotel Pennsyl-
vania, Sunday, January IL, three to six
i. NJ.
The New York herald., 1920-01-08
Closes at
COIN DE P ARIS
To Make These
Little Corner
Pieces

compliment ourselves is far
thest from our intention.
Indeed, to be frank about it,
the writer would regard it as
an impertinence upon the pub
lie if such were a fact.
Plainly speaking, while
there may be touch Of sell
fishness in everything that
most of us do, in this particu-
lar matter of store making
and keeping the theory and
practice observed here is off
the beaten track and, though
original with ourselves, can be
copied and initiated anywhere
and everywhere.
IF what we are doing entities
Ms to distinction, it is because
we are doing something more
than the commonplace.
Copyists of Raphael or
Murillo were often disap-
pointed in their efforts, be-
cause they only copied what
their eyes saw and could not
catch the spirit of the master
painter.
1t is not difficult to see fig
ures and initiate colors of a
picture, but the other some
thing in the painting is often
beyond analysis or possibility
of transfer.
The New York herald., 1920-01-08
5000 REWARD

for DIAMOND BRACELET. lost between Hotel
McAlpin and Thirtv-ninth Street Theatre. January
q. u. G. CALDWELL. care John Wanamakers.
S5 REWARD return of BLACK SEAL POCKET
BOOK passport and papers and railroad ticket.
10 6io 1st av.. city: no questions asked: lost
January 3.
The New York herald., 1920-01-08
BUSINESS SPECIALS.

CASH PAID IMMEDIATELY for Pawn Tickets.
Diamonds. Precious Stones and Jewelry: strictly
confidential. FORGOTSTONS 503 Fifth av..
North East Cor. 42d st. Tel. 5331--Vanderbilt.
CASH FOR DIAMONDS. PEARLS, JEwELRY.
Mrs. LfNCH'S SON. 227 West 42d ST.
The New York herald., 1920-01-08

Z. 1920. JOSEPH b
HOWARD. beloved husband of Iiboie
his late home. S3 Perry ST., on Saturday
evening" eight O'clock.
The New York herald., 1920-01-08

HUBBARD.-On Tuesday, January s. ls0
JOHN f., beloved husband OF Jane r.
Hubbard. Services Friday, ten a: M;
at 4H Riverside Drive. Internent wood
1,xy
The New York herald., 1920-01-08
M A r RIAGES.

! WH1PPJE - RIKER.-At ST James
Church. in New York CITY Wednesday
January Z. 1920, by the Rev Frank
The New York herald., 1920-01-08
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