davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1920-04-06
DEFLATION MAKES
SLOW PROGRESS

The production of pig iron during
February averaged over 102. 900 tons
per day as compared with only Co.
600 tons last October. Owing to
improvement in weather conditions,
production for March, when report
ed. Is expected to show even greater
activity. This means large earn
ings at present high prices. II pro-
duction is going to be at 90 per cent
OF capacity for any length OF time.
however. IL Is doubtful whether the
present high scale of pig iron prices
can be maintained on sales for de-
livery next winter. The recent high
prices were the result OF active bid
ding by consumers who feared that
curtailment of production would
make it difficult to get deliveries.
In the woolen trade there are re-
ports of moderate revisions Of con-
tracts at the factories representing
cancellation of orders by retailers
who find the public fighting against
the high prices. This factor of
lighting against high prices will
prove to be a fundamental influence
during the next six months. Not
that the public are not willing to
pay the high prices IL they have>the
money. but because IT is doubtful
whether the spending power of the
country can keep on increasing rap
idly enough to absorb a large. and
In some cases increasing, output Of
goods at the abnormalIy high prices
prevailing.
The situation has changed since a
year ago. There is no longer any
volume of selling of war saving
certificates or Liberty bonds by
prodigal spenders, interest rates are
higher. buyers are fighting high
prices and merchants are conserv-
ative on account of rising expenses.
The crop outlook is less favorable.
A year ago trade was so stimulated
by credit imitation that crops were
secondary consideration. Now,
however. although the credit out
look Is the dominating factor, the
prospects Of a small wheat crop en-
ters measurably into commercial
calculations
The Washington herald., 1920-04-06
JOSHUA EVANS. JR.. TO-
ADDRESS TRI-STATE MEETING

Joshua Evans, tr.. cashier Of the
RIGGS National Bank, will deliver
an address on The Part Played by
the Federal Reserve Act During the
War Period; Its Bearing on the
Commercial Welfare of the Nation
and the Support It Has Received
From the Business Public,% at the
Tri-State Conference to be held in
Norfolk tomorrow.
Representatives from the Wash
fngton, Baltimore, Richmond
Lynchburg, Roanoke, Bristol and
Norfolk associations will attend.
Some of the members who will GO
from Washington are James A. Bal
ley, Of the Addressograph Company:
j. George Auth. of the Auth Proyis.
ion Company; NJ. r. Flynn, of w. n.
Butler Company: s. Fay Harper. of
e. F. Droop & Sons Company. Jas.
8. Mckee. of A. Eberly's Sons Conn
pany: Carl c. Mueller. of George J.
Mueller, Inc; Herman Schrot. OF
Schrot Brothers: F. w. BuckIer. of
Washington Tobacco Company, and
r. Preston Shealey.
The Washington herald., 1920-04-06
Requests Additional Appro-
priation to Meet Rail
Obligations.
EXPLAINS THE POSITION
Points Out Governments 5
Requirements to Liquidate
Railroad Affairs.

An additional appropriation OF
s42o.7z734l to enable the Railroad
Administration to meet its obii~.-
tions under the transportation act
and to defray costs of Federal con-
troll Is asked by Walter d. Hines.
director general of railroads. in a
letter transmitted to the House yes
terday.
Already s1.45o,ooo, 900 has been
appropriated to meet the expense.
OF the governments operation Of
the railroads. The original appro-
priaton In the Federal control act
was s500.oo0.000. the deficiency ap-
preparation was s750.0OO. 900. and
the amount carried in the trans
portation act, known as tho. Cum
mins-Esch bill, was $500, 900. 900.
In connection with the foregoing
estimate of the amount of the an.
preparation required to liquidate az
fairs of the Railroad Administer
tion," Mr.. Hines says in his letter,
no allowance has been made for
the settlement OF claims on the
part OF the corporations for under
mainte nance of their properties
during the period of Federal con-
troll.
while there may be many such
claims. there will be on the other
hand claims by the government
against some corporations for the
maintenance OF the property In ex-
cess Of the contract requirements.
which may require the payment by
corporations to the. government. In
the absence of final figures. it seems
best not to make any estimate Of
the net amount required to settle
maintenance claims"
The estimated excess of operating
expenses and rentals over operating
revenues is outlined as follows:
Class / railroads. .S617,513,15
Smaller railroads. sleep
ing cars, refrigerator
and steamship lines. 43,01l.lzs
Inland waterways..... 2,i49.739
Expense of central and
regional organization. 1926. $50
American Railway Ex-
press 3S,111,1iS
Other profit and loss debit bal
ances:
Adjustment for materials and
supplies in settlement OF railroad
companies on account increasing
prices, SIS, 5,.O4.61S.
Net interest adjustments and mis-
cellaneous income debts and credits,
s40.233,3s6.
The total profit and loss debit
balance is placed at 5000. .47S.766 and
the total items of Indebtedness and
investment at ss6s.sc3.363. These.
with the administrative expenses OF
the Railroad Administration from
March !. 1920, To January I. 1921,
of S3.445e22. make the total re-
quirements s1,S7O.727.34I
Copyright. 1870. by Public Ledger Coz
The Washington herald., 1920-04-06
HOUSTON COMMENTS
ON TREASURY POSITION

Following Is q copy Of a telegram
sent by the Treasury Department
to the governors of the Federal Re-
serve Banks yesterday:
There appears to be some danger
that emphasis laid in the press upon
reduction of the public debt in
March will lead to a misunderstand-
ing of the Treasury's situation.
Though progress has been made
since last August in reducing the
gross debt and the floating debt of
the government of the United
States from taxes and salvage and
by reducing the net balance in the
general fund. II would be a mistake
to assume that any such reduction
in the public debt as occurred in
March was other than temporary.
The income and profits tax pay
ment in March amounted to $919,-
100000 on the basis of Treasury
daily statements, while the govern
ment's other current revenues
amounted only to about $1So,0o0,-
900. Its current expenditures In
March exceeded $537, 900.
obviously the government must
be heavy borrower in April and
May, and the public debt will be
again increased In those months.
The fact that so large q proportion
of the governments annual income
Is paid In four months Of the year.
March. June. September and De-
cember, will necessarily result in
fluctuations Of the public debt, and
IL IL q mistake to concentrate at
tention upon the operations Of those
months and to leave out Of account
the intervening months In which
current expenditures have regularly
exceeded current receipts to a
greater or lesS extent.
The Washington herald., 1920-04-06
Corn Products.
MONEY.

/ Hew York. April 6-In time funds
ths situation appeared to be un-
chAnged Nominal quotations were
sA par cent on Industrial loans and
8 Per cent on good mixed for all
maturtttes. The authorities on the
money market were uncertain re-
garding the credit situation. Com
noerctal demands for money are still
At or close to the highest, and the
gold 90 far figured on from Great
Britain, arrived and to arrive, up to
tfts date only Offset part of the
heavy exports OF the yellow metal
10 Argentina
Prime mercantile paper Il un-
changed as to conditions and local
tty of business. Eastern institu-
lions are only moderately interest
cd; and In the interior the per
cent minimum discount applies to
most of the business.
Prime bank acceptances moder-
atefy active; rates unchanged; call
loans on bank acceptances 81 per
cent
Money on call. opened Z. high z,
low 6, closed Z, with ruling rate 6
Der cent
The Washington herald., 1920-04-06
, LOOKING BACK

The period when James Monroe
was president (1S21-25) Is referred
to In the texts on American history
rs AN era of good feeling The
fundamental explanation Of the
good feeling then existing Is that
altar an exciting period Of credit in
nation and speculative activity dur
ing 1858, following the Napo-
leonic wars, the atmosphere was fin
ally cleared by the Crisis of 1913,
and within two years prices. wages,
land values and securities were
down on a solid and permanent
basis People could look ahead with
confidence. The Erie Canal was
built; the shipping tonnage of the
country rapidly increased. Prices,
wages and rents seldom changed as
much a. or 10 per cent in a year.
Invention. new construction work
and economic development increased
rapidly. There were no fluctuations
in wages and prices to unsettie the
minds Of employers and wage earn
ers. Both mind and muscle were en-
gagged In productive effort. 1t was
an era Of good feeling.
That Is something which the world
will enjoy once again after the pres
ent period Of feverish speculative
activity Is over. Perhaps Ii will
come between 1925 and 1890. Mean
while there Is too little labor and
capital employed upon railroad con-
struction and agriculture, while too
much time is wasted in complaining
OF the high cost of living. In dis
putes regarding the division of the
spoils of profiteering and in efforts
to get more money with less work,
as the case may be.
The present era of Ill feeling is
due largely to instability of prices
and wages begot of currency inhaL
,tion.
The Washington herald., 1920-04-06
AUTO SHIPMENTS HELD BACK
A railroad man who has just re

A railroad man who has just re-
turned from g. trip through the
Middle West studying transporta-
ton conditions said that the car
shortage in Detroit IL 80 acute that
$21, 100000 worth Of auto trucks
and pleasure cars are being held
there awaiting shipment.
The situation Is 80 bad. he said,
that the manufacturers are using
old trucks to make deliveries. He
saw no immediate relssf for the sit
uation in view of /khe troubles the
carriers are experiencing In inanc-
ing their equipment ueeds.
The Washington herald., 1920-04-06
Local Securities.
wsshsassss sssss x.sAa.s~

osetstIses for is9o 10 dass.
Surnishsd by Moerhead . Elnors.
The Washington herald., 1920-04-06
STOCK MARKET
ONELAGGARD
Week Opens With Little
Activity Shown in Either
Direction.
STERLING A FACTOR
Belief Is That Market Has
/. Not Yet Discounted For
eign Improvement.
STERLING A FACTOR

New York. April 5-Aithough
some disappointment was felt by
those who believed the stock mar
ket would open with a burst of
strength after the three-day holi-
day. II could not be said that its ac-
don was to the distinct liking of
those interests playing for lower
values. In fact, IL may be said that
notwithstanding a laggard tendency
At the opening. later dealings dis
played buying of a broad character.
Some fear was felt of another up
ward turn in money, but this ele-
ment proved a favorable influence.
ruling around per cent during the
greater part of the day.
Sterling q Factor.
The continued rapid advance in
the price Of the pound sterling over
the ~ mark was taken favorably,
and in the opinion of those who
have made q close study of the for
eign situation, reflected a healthy
condition existing on the other side.
at least so far as Great Britain Is
q sconcerned- The expectation of fur
ther heavy gold receipts this week
Is also looked upon as a factor IA
vorable to the constructive side Of
the market. All in all, the feeling
generally toward the foreign situa-
ton Is extremely optimistic.
Exchange Ruling on stutx.
The ruling of the law committee
Of the New York Stock Exchange
relative to the delivery of Stutz
Motor stock was the subject of
much discussion. The ruling, as
Interpreted. leaves the question of
the responsibility of those short Of
stuG stock to the courts. the Stock
Exchange authorities claiming no
responsibility IN the matter. In
other words, Allan A Ryan & Com
pany, will be forced to resort to the
courts in order to make those short
OF the stock settle. provided, fof
course, no amicable settlement can
be agreed upon privately. The en-
tire matter Is indicative Of q long,
drawn-out mess.
The Situation I'm stromberx.
The Stutz controversy placed an
uncertain aspect on the market
position of Stromberg. The short
interest in this issue is of large
proportions, and there is reason to
believe that the same interests who
were responsible for the Stutz
squeeze, were about ready to run in
those committed to the short side
sf Stromberg. However, from those
who have been well posted on the
situation IN the past, it Is now
learned that there has been no
definite change in the stocks mar
ket position The shorts, II is said,
will have sufficient cause to feel
nervous II present plans are car
rfed out
Corn Products
orn Products advanced into new
high ground today. and there is rea-
son to believe that the stock will
90 very much higher. Aside from
the fact that there is q strong pool
operating in the issue, intrinsic
value IL the main reason for the
stocks continued strength Earn
ing approximately $40 a share, there
b prospects for some Juicy melon"
cutttng In the not distant future
In fact, plans are said to have al
ready been formulated for the dec
laratton OF two stock dividends dur
ing the present year. II such is the
case, IL is difficult to forecast tust
bow high Corn Products will go.
The Washington herald., 1920-04-06
Month

Feb. 1913
31,767.276.z7
6S,os6.2o
The Washington herald., 1920-04-06
COMPARATIVE STATEMENT.
,ANAcoNDA's PRODUCTION.
New York, Ap'

New York. April s.--Copper pro.
duction Of the Anaconda Copper
Mining Company in March amount
ed to ls,450,000 pounds. This COM
pares with 1s.50o.ooo pounds In Feb
ruary; 1S,1oo.000 pounds in January;
3,3o0.0o0 pounds in December. when
the properties were shut down for
a time by the coal shortage. and a.
120, 900 pounds in November.
In March of last year the output
of the company was 13,s00.0o0
pounds, and in the same month of
1918 II amounted to 2S,0oo.ooo
pounds.
The Washington herald., 1920-04-06
EAST BUTTE.

New York, April 5.-The East
Butte Copper Mining Company for
the year ended December 81 last
shows net surplus from operations
of $524.1SS. equivalent to s1.24 a
share before Federal taxes, COM
pared with s7s5.46s. equal to s1.7s
a share in 1918.
The Washington herald., 1920-04-06
WEsTINGHoUsE AIR BRAKE.

New York, April 5.-Westinghouse
Air Brake and subsidiary companies
report for the twelve months ended
December 81, 1919. net profits of
$7,s12,5ss; estimated Federal taxes,
s1,625, 900; balance. $6.2s7.56s; divi-
dends, s4.o72.4s2: surplus. $2.215.o77;
previous surplus, $12,es4,552; total
surplus. $14S79.62s.
The Washington herald., 1920-04-06
Cities Service Company Shows
Marked Progress in Expansion

Service for Fsbrussy 1920 reported gross in,
February
s14s9512
earnings avaabe for Of preferred
available
months
adv n
production
o
ing
1913 from a Sos higher than
most Tshsr condiSns
Pa Pinto county
Company thus steadily being demonsaed
The Washington herald., 1920-04-06
FIRST QUARTER FAILURES.

The number of commercial fail
ures in the United States. the
amount of assets reported, and the
amount of liabilities, for the first
quarter of each year, are shown be-
low for twenty years:
The Washington herald., 1920-04-06

Net earnings.
Interest on deb.
Net to stock. ......
Dividends pfd. stock
Net to common stock
and reserves. .....
Total sur. and res.
March 10. $780,.
The Washington herald., 1920-04-06
CURB STOCKS

Furnished By W. B. Hibbs 4 Co.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14
EVERY COLUMBIAN HAS
SPRING FISHING FEVER

Its certainly peculiar how that Mr.:
Smith next door digs around in his
yard so early in the morning" said
Miss Brown, whose occupation is
watching poor Mr.. Smith dig every
morning from until s.
But it isn't a peculiar occupation
for this time of year cause it's fishin'
time and every man and boy is drag
ging out his rod and line in prepara-
tion for a trip to the old pond or
creek.
Maj. H. C. Jackson, commanding Of
ficer in the artillery unit Of the r. O..
T. c. of the University, is one Of the
first to make use of the streams
around Columbia.
Just after the ice began to break
on the creeks and ponds. Major Jack
son started down to Brushwood to
fish. According to several old-time
fishermen, Major Jackson is the best
authority on reel and line in town.
He says that the streams around Co
lumbia are natural trout streams and
If the people would only wake up to
this fact, they could make Missouri
the best fishing state in the Union.
''The trouble is seiners are allowed
to empty the streams of all good fish,
minnows and all, and there are no
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

Fish to CATCH" he says.
Wayne b. Allen. of the Allen Music
Company, has plan to form a county
Fishing Club. This organization
would include every farmer, business
man and boy for the purpose of pro-
tecting the fish. stocking streams and
preventing netters from cleaning the
waterways.
Russell Monroe, secretary OF the
Commercial Club. has the fishing fever
too. He has just completed bank
rod of his own make which is made
of Greenhart wood Of yard lengths.
each joint being bound with white
silk thread. 1t has had seven coats
of varnish. Mr.. Monroe says he
wouldn't take $50 for It. He expects
to make use of it when he goes to
Wisconsin.
E. r. Childers and DR.. A. w. Kamp-
schmidt returned Sunday from fish
ing trip to Cedar Creek. Their catch
amounted to twenty-four catfish and
perch.
L. E. Renie and D. C. Ballanger have
been going out for two weeks to Sill
yer Forks. north of Columbia. They
caught thirty-three croppie and perch
Thursday. Mr.. Renie says this is the
best time of year to fish and that bit
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14
Kansas Coaching
staff Organized.

The athletic board of the University
of Kansas appointed as the football
coaching staff of the Jayhawkers DR..
F. C. Allen. director of athletics. How
ard ("ScrubbyO Laslett, captain Of
last years football team and "Ad"
Lindsay, assistant football coach last
year.
Doctor Allen will. in addition to his
supervision Of athletics and of the
football coaching staff. have charge
of the Jayhawker's basketball squad.
Spring football practice will start un-
der the supervision Of Laslett. who
will also have charge of freshman
basketball next year. Lindsay is fresh
man football coach. and will also
coach the Varsity backfield.
Track Coach Karl Schlademan.
freshman football coach last year, will
devote his entire time to track.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

ing has been especially good. He ad-
vises minnow as bait and early morn
ing or late at night as the best time
for catching.
Homer Heibel returned Sunday with
a catch of 20 from Dooley's Mill.
R. q. Cox and A. D. McGrath have
also tried out the line and tackle this
season and have brought back catches
of perch. bass and croppie.
Local dealers in fishing paraphana-
liza say that this last week everybody
in town was trying to fish somewhere
or sometime.
II you haven't been, it's time to go.
say the experts.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

As q policy holder Of the New York
Life you pay your pro rat share Of the
operating expense. By reason Of Its
position in the financial world, the
New York Life is in a position to make
this expense as low as it can be made.
With the operating expense paid. you
get your insurance in the New York
Life at net cost. No, institution can
sell its wares for less than cost and
continue to do business. w. G. Steph-
enson will be glad to show you more
about the New York Life.
Adv.-S-217 and 220.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14
THE CALENDAR

May 15-Arkansas delegation inspects Col
lege Of Agriculture.
May 15S3 p. m. Rollins Field. Baseball
Missouri VS.. Washington.
May 1j-7 p. IN. Daniel Boone Tavern.
Dinner for Arkansas delegation by
Commercial Club.
May 16-3 p. m. Ground broken for Boone
County Hospital.
May 1913 80 p. m. Christian College au-
ditorium- Student recital.
May 11-Special session Of Circuit Court
opens.
May 17-6 p. m Dinner of Boone County
Bar Association.
May III 80 p. m. Y. NJ. c. A. Auditorium.
Meeting Nof Hoover for President
Club.
May 1s-4 p. m. Y.W.C.A and S.G.A. picnic.
May 1S-7 80 p. m. University Auditorium.
University Elementary School pre-
sents a series Of children's plays.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

NATIONAL STOCK YARDS. EAST ST.
LOUIS, ILL.,, May 1.-THE live stock mar
ket for today was as follows:
CATTLE: Receipts 5000: Market steady.
Native beef steers $6.75@$14.00.
Yearling seters and heifers $650QS14.25
{ Cows $7.O06$10.75.
Stockers and feeders $6.75@$l0.55
Calves $7.OO@$14.00.
Cows and heifers $6.50Q$11 .00
HOGS: Receipts 1000; Market &c
higher.
Mixed and butchers S1i.5O6$15OO.
Good and heavy, $14.OOQ$145O.
Rough $11.506&12O0.
Light $15.OO0$1535.
Bulk S14.150S15.25.
SHEEP: Receipts 300; Market steady.
Sheep and ewes $lOJ0@$11.00.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14
For County Aasesssl

For County Assessor
We are authorized to announce W. e.
Pace q candidate for the Office Of asses-
sor Of Boone County. subject to the action
Of the Democratic primaries In August,
For County SherfR.
We are authorized to announce Fred C..
Brown a candidate for the Office Of sher-
Ia Of Boone County, subject to the ae-
ton Of the Democratic primaries in Au-
gust. 1920.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14
NOTICE

Turn In all the bills incurred by the
'Made-in-the- Philippines" anQuet
Committee to G. A. Da1a. superintend-
ent, at the Tavern not later than Sat
urday, May Is. adv.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14
Freshman Will Get ssK"
For Breaking Record.

Edwin Sandefur. freshman track
man at the University Of Kansas, has
been recommended for a. TX" by the
athletic board for breaking the indoor
shot put record at the Kansas City
Athletic Club indoor meet. Sandefur
showed the shot 55 feet and inches.
breaking the previous record Of John
("Bonnie") Reber, Kansas City ath-
lete, by two feet.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

The Edith Circle Of the Christian
Church will have a sale Of Japanese
parasols in the millinery shop Of Mrs.
Hess. 1011 Broadway on Saturday aft
ernoon, May Is, at O'Clock. Adv.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

For County ene-s1.
We are authorized to announce G. Ed
Chambers a candidate for the office Of
sheriff OF Boone County, subject to the ac-
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

nolllus Z candidate for the o0ics of -
reoeptatfve Of Boone County. subject 4 ~
action Of the Democratic primaries d ~
rust 1870.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

Fer Representative Beens County.
We are authorised to announce James 3
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

For Prosecuting Attsr.ey.
We are authorized to announce RUBY =
Hulep 4 candidate for the Office Of PrusS;
cutting Attorney OF Boone County, suhiS<'
to the aetion Of the Democratic primaSlSs
In August, 1890.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14
ANNOUNCEMENTS

For Constable. Columbia Township.
We are authorized to announce Jabe
Sublett candidate for the Office of con-
stable, Columbia Township. subject to the
action of the Democratic primary, August
8, 1920.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

Fer County Court Judge.
We are authorised to announce Frank
L. Gibbs q candidate for the Office Of
Judge of County Court Northern DIS
trict Of Boone county. subject to the act
ion Of the Democratic primaries In Au-
gust, 1870.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

ton Of the Democratic primaries in An
gust, 1870.
The Evening Missourian. [volume] (Columbia, Mo.) 1917-1920, 1920-05-14

There's news in the ads-good nsul