davidaulloa/AmericanStories huggingface dataset:
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
Grain.

Chicago.-John Treadwell & Co. say:
During past 30 days Chicago lard sup
plies have decreased 56,37l,4 46 pounds,
indicating probably an unparalleled
movement and shrinkage in stocks for
similar period Short rib stocks, even
at the liberal reduction for the half
month, would not look especially bullish
were 1t not for the fact that the other
dry sailed meats are so closely sold up
ana present available supplies OF side
meats are probably as light as they
have ever been at this time of year.
Kansas City office wires: Corn Is
being offered freely in Oklahoma at IS
cents"
Chicago. Yesterday export sales
wheat placed at 100000 bushels with
Belgium and Holland principal buyers
Chicago.---Bert Schwarz broker, has
bought half million March wheat and
still buying.-T. & NJ. TO Clark & Co.
Chlcago.-The demand for wheat and
corn Is slow. Some more influential 10!
cal traders are selling corn, but not
much pressure on wheat.--Babcock to
Clark & Co.
Broomhall cables: The weather In
the. Argentine has greatly improved
during the past few weeks and this Is
influencing the farmers to let go their
reserves Of this years crop, which are
quite liberal, and should provide
fair carry-over into the new season.
New crop prospects have much inn
proved during October and prospects are
for q good yield TO the acre CONT
mental merchants have purchased few
lots Of American and Canadian good
quality oats during the past few weeks,
but these quantities have not reached
any large amount, and continental
countries in general are drawing upon
their native supplies instead of import
ing from foreign lands, and consequent
ly paying the high exchange rate.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
NEW YORK COTTON.

NEW YORK. Oct. 16.-There was a,
renewal of Southern hedge selling In
the cotton market this morning. Spot
prices in the Southwest made new low
records yesterday with a larger bust
ness reported. and much of the hedg-
ing came from that section during to-
days early trading. There was also
selling on the continued depression of
the goods trade as emphasized by
week end reviews estimating Fall River
sales for the week at only 5000 pieces.
and London advlces indicating that the
British coal strike would take place as
scheduled. First prices were easy at
a decline of 90 to 80 points and while
there was a good deal of covering, the
market soon worked still lower un-
der the pressure of Southern offerings
and liquidation by recent buyers for
reaction. December broke to 1880,
making a new low record and net
decline of so points while January sold
off to 19.10c or 20 points below last
railway workers were planning to strike
in support of tho miners were an un-
settling factor.
The pressure became still more ac-
tive late in the morning, when there
was heavy Wall street selling as well
as continued pressure from the South.
and the break extended to 1900 for
December and 1850 for March, or 95
to 140 points below Fridays closing
quotations. Last prices were at the
lowest OF the day with the, market
weak at net decline of 10 to 140
points.
Futures closed weak at decline of 70
to 140 points.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
COTTON MARKETS
Further Crash in Values in
Cotton Market With Little
Resistance Shown.

Saturday Afternoon, Oct. 16. :,
Apparently there was feeling OF
absolute helplessness among cotton
traders during the short session to-
day, for prices descended without meat
ing any resistance of consequence. The
advices from Great Britain that the
big coal strike was on seemed the oc-
casion for most of the pressure, as
there is no telling how far the effects
OF this may reach IL prolonged. Wealth
er conditions in the belt continued ex-
ceuent, while the weekend trade re-
ports were discouraging. Further re-
auctions were announced in prices OF
finished goods and more expected II
there is not revival of demand soon.
Absence Of any encouragement from
washington as to relief being granted
Tor the cotton belt by the federal re-
serve board. and private opinions that
such would notkbe, also helped in the
hquidating tendency.
At the close tone was weak in both
speculative centers. with New York
from 20 to lao points to the bad and
New Orleans from 200 to 105 off Oc-
tober In the latter center went off the
one day limit, closing at 1890. De-
cember in New York seemed especially
under fire, although some private ad-
vices told of fairly large absorption
by one or two concerns.
Liverpool on Monday to make proper
response should open n to SO points
to the bad.
In the spot department there was
nothing to stimulate hope, although
volume of sales were not so large as
they have been, Reductions in quo
tations, however. were general, rang
ing from so to 150 points, New Or
leans being the only one of Importance
to make none. That center sold 432
bales, leaving middling at 20.25c. Mem
points, middling to 20cI Houston re-
ported sales 8,421. reduced middling 65
points to zoe, Dallas sold 9,445 and
cut middling 140 points to 1890, while
Fort Worth sold 5,54S and put mid
ding $50 lower to l8.50c. I. "
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
NEW ORLEANS COTTON.

NEW ORLEANS, oct. 1.-THE coal
strike in England was the main in
fluence in the cotton market today and
it caused lower opening which dur
ing the first hour OF the session, the
trading months dropped to levels 20
to SO points under the close OF yester-
day. December trading as low as 1856
and May as low as 1870. All months
made new low levels for the season,
Not as much rain as expected fell
in the belt and this, together with the
unfavorable tone Of weekly business
reviews. helped to increase offerings.
During the second half OF the SEES
sion selling pressure increased and ex-
tremely heavy liquidation OF long con-
tracts came on the market. The close
brought much excitement. mainly ow-
ing to the break of $40 a bale in Oc-
tober. Last prices were at net losses
for, the day Of los to 200 points, Oc-
tober being the weakest month aud
dropping to 1sl0c. the lowest price yet
made this season by a spot month.
Spots closed quiet and unchanged. Or
binary, else; good ordinary, S.75c; low
middling. l375c; middling 2025c; good
middling, 22.25c Sales on the spot 1872;
to arrive, 800
Futures closed weak at decline Of
200 TO 105. points.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
Asserts Var Is
Form Of Disease

COLUMBUS, Ohio. Oct. IS. (By
International News Service. THAT
war must be considered as a disease
"a form Vf social mania-is the
claim made by Dean George F. Arps,
college of education, Ohio State uni
versity
Addressing university students on
Educational Effects of the War"
Dean Arps insisted that war was one
Of the social epidemics against which
I'VE apparently can not carry on an
effective quarantine"
I'VE must have an educational
movement which will bring about So
cial accord through the process Of
integration," he declared. discussing
cures for radicalism.
IAN intellectual Moses is needed to
lead us out Of the wilderness. Hu-
man nature cannot be remade, but
1t can be developed through the
proper mode % education"
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
GRAIN MARKETS
Trading Heavy in Wheat and
Commission Houses on
Buying Side.

CHICAGO, Oct. 16-Trading in
wheat was heavy at, the start today
there being heavy and persistent buy
ing by a strong commission house and
prices advanced rapidly. After OMEN
ing 1 to 2kc lower. with December
$2,16 to $218 and March $2.10h to
$211b, the market rose swiftly above
yesterdays finish, but when a house
that usually acts for leading New
York trader went on the selling side
break from the high point occurred.
Wheat continued under pressure. the
investigation talk seemingly to have
been forgotten and the close was near
the lowest point of the day. Az to &c
under yesterdays final figures. with
December s2.13 to $2.13A and March
S2.07 to $207h.
There was a general rush to buy corn
at the start, but on the bulge there
was free selling. After starting 70 to
nc higher. with December S9A to 90c
and May 93A to 93Ihc, a sharp re-
action set in and prices descended.
Later the break in corn was checked.
the trade devoting it's attention to
legitimate market influences and the
finish was unchanged to 25-Sc lower.
with December S7% to S7%c and May
91hc. ,.-,
Oats followed other grains, initial
quotations being II to Nc higher with
December 571k to 579sc and May 62
to 62hc.
Provisions were fairly strong because
of the strength in hogs.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
ROUND THE ticker
Cotton.

New orleans,-According to private
cabiegrams the coal strike in Eng
iand has already commenced as some
aiternoop shifts Of men In certain dis
eI,ess iaiied to show up. but Man
viii be brief"-Shepard a Giuct.
New rleans.-washingto wires:
GOV. w, j. g. Harding OF the federal
reserve board announced today that
the board was preparing to make
new statement Of It's credit policy as q
result Of recent frequent appeals for
Ieueral aid from agricultural interest
Inc governors announcement was
MADE after he had conferred with rep
resentauVes OF Southern cotton COM
mission merchants. He said he ex,
pected to make public the boards at
titude on the questions tomorrow.
New York.-Local buyers around 10
cents for March on theory all bad fac
tors known. hope expressed drastic re-
duction cotton goods will start bust
ness, many think federal reserve will
DO something to help,--Hubbard to
Reese.
Natchez, Miss, wires: We are hold
ing steady. My county will make about
10000 bales OF cotton. Less than 400
has been sold. Banks in my county
able to finance crop without calling
on the federal reserve. Expect to car
ry every bale my customers cotton
into next May or June. II had to be
sold at present market would not col
lect over. so per cent of the money
ana supplies advanced to make it.
Shepard & Guck.
sents no new features and Is still sur
rounded by demoralized business and in
addition thereto the possibility Of sus-
pension OF manufacturing in England,
but with II all the market displays
marked stability.-Ettelson to Clark &
Co.
New York.--Outsiders selling out De-
ceember on story cotton can be brought
here.-Hubbard to Reese.
New Orleans. --Market may work
lower under political and trade pres
sure. but do not advise selling.--S. n.
& Co. to Turner & Reid.
London.--As the strike has been
brewing for so long the authorities
have accumulated large stocks OF coal.
while private consumers have laid in
supplies. Hence, unless the strike is
unduly prolonged, 1t Is not expected
that the country will suffer seriously.
New Orleans.-Private advices from
Washington indicate something favor
today by the federal reserve board
Beer to McFall.
New York.--Cotton market was pro-
fessional in character Weather map
showed rains over cotton belt A little
larger export demand: would not be
surprised to see very sharp recovery
occurrence. the market being heavily
oversold.-Weismann to McFall.
Waco, Tex.-Basis fairly steady I'M
I'll late in day when country flooded
with bearish news. offers late today in
excess Of takers, basis easier. We ex-
'pect enough leakage of spots to prob
ably more than supply the demand
Beer to McFall
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
INDIAN CHIEF FINDS
AVIATION EXPENSIVE

HIAWATHA, Kan, Oct. Is. (By In
ternational News Service. )-Chief
Harrison Council. an Indian, bought
an airplane in Kansas City several
months ago 70 give exhibition flights.
He brought the plane to his home
here where scores of redskins assem-
bled to see their chief fly. Chief Con-
nell had sold his last so acres OF In
dian land and was preparing to fly
high when the plane came down with
a sickening thud. Chief Connell had
$2,750 invested In the machine, but
sold it for 500 to an oil man from
Texas.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
Stocks.

New York.-If we omit from consid
Grafton for the moment conditions in
Europe our main problem here at pres.
ent Is the state of trade and CONNER
cial agencies again call attention to
an important decline affecting manu-
facturer, jobber and retailer. Condi-
tons today are almost similar to that
which prevailed following outbreak OF
the war and following the signing of
the armistice. Basic conditions sound
but there is want Of confidence.-T.
& NJ,
Oh City Pa.-Western Kentucky
rel.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
SPINNERs' TAK1NGs.
FROM WALL STREET
Stock Market Depressed by
Unfavorable Industrial
Conditions.

NEW YORK, Oct. 16.--Another squirt
in obscure coal shares, based on ru-
mors OF dissolution plans with resultant
benefits to stockholders. was the only
constructive incident of the week end
stock market session. The movement
in general became decidedly reaction
airy soon after the opening. Many of
the speculative industrials and special
ties fell back one to almost five points
on selling induced by more adverse in
dustrial conditions at home and abroad.
Steels, equipments, motors and oils
offered only slight resistance to pres
sure, but Investment rails were not
materially affected. The closing was
heavy. Sales approximated 10000
shares.
Range of prices on New York stock
exchange, with previous closing bids,
furnished by Shepard & Gluck. Falls
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16

FORT WORTH. Tex. Oct 16.--Cat-
tie, receipts, $50; steady beeves, $500
6g10 90; stockers, s5,0Od7. so; cows, $3.50
dT00. heifers, SO 0O075O; bulls, $500
as. rs; calves. So 25m9.50
Hogs, receipts, 500; steady light,
SIS. 00aI5.25: heavy, $14,75dl5,00; me-
dium. $14 25q1475; mixed $l3 75d1425 !;
common. $4,000 1875; pigs, $1,000
1900.
Sheep. none; steady; lambs, $4,000
1850: yearlings, 81 .O0G1S SO; wethers,
Sc. 0oGi8 %; ewes, Ss-OOa6 90; culls, 800
as 90; goats $4.00Gp5. 90.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
COTTON REGION SUMMARY.

Warmer weather prevailed over north
ern districts during the last "a hours
and temperatures were generally sea-
sonable to 10 degrees above normal
Moderate to heavy rains occurred on the
Texas coast and light to moderate scat
tered showers in Louisiana, Missis-
sippi, Eastern Arkansas and Western
Tennessee.
TEXAS RAINFALL
Corpus Christi 2,l2, Galveston 222,
Houston IA
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16

ST. LOUIS. Oct, l6.-Cattle, receipts,
1000: no sales today: steers 25 TO soc
lower; heifers 80 to 75c and in spot 81
lower; beef cows 90 TO Csc lower; can
ners 25 TO soc lower; bulls Csc lower
vealers and heavy calves 81 lower;
feeders and best stockcrs steady; COM
mon stockers SOC lower; stock cows
rs to SOC lower.
Hogs. receipts. 5000 10 to 15c lower;
top, 1880: bulk light and medium
weight. s15.40@l5.S0: bulk heavles, $500
a15,60.
Sheep, receipts. none; no sales to-
day. Steady TO 25c lower for week,
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16

CHICAGO. Oct. 1s.-Wheat, No. 2
hard, $222. ~
oats, 10. ! white, 5sh@57G; No. 3
white, Csc. '"
Rye No. 2, $1.75.
Barley, 94cdS1 .06.
Timothy seed, S5.00Q650
Clover seed. $12.00d20.00.
Pork, nominal.
Lard, $2075.
Ribs, $1L0Od1S.50.
-
ST. LOUIS, Oct 15.-Cash: Wheat,
No. red winter. $2.3S; No. 8, S2,SS;
Dec $2.131z; March $207h.
Corn No. / white, 94c; No. 2, CSC;
Dec S7hc; May 91hc.
Oats, No. 2 white, 57g57hoi No. g.
56Ja a57cS Dec. SIC; May &c.
9
KANSAS CITY, Oct. i6.-Cash
Wheat &c lower to &c higher; No. /
hard. So l512.2 No. 2. S2.1SG4a5: No
/ red, 1921; No. 2, 92.25.
Corn, unchanged; No. 2 mixed 97c;
No. 8, 95c; No. white, 95c; No. g.
9O6f93c mo 2 yellow, $1.07; No, 3. $l00.
Oats NC lower; No. 2 white. 56hc;
No. 2 mixed Sec
Rye, S1.5s.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
MONEY.

, NEW YORK. Oct. 1s.--Prime mer-
camille paper 8, Exchange irregular.
Sterling s0-dav bills. ts41Jh; CONNER
eial 6o-day ellis on banks, ss.41h; com
mercial 6o-day bills. sail; demand
s5.4t; cables. &3,46%. Francs. demand.
6.iS; cables. 6.5l. Belgian francs. de-
mand, s.s7; cables. 6ss. Guilders, de-
mand. 1892: cables, 1892. Lire. de-
mand, $50; cables, S92. Marks, d,
mand. l.42: cables. la. Greece, de-
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
NORTHERN sPINNERS.
COTTON ON sHIPRoARD.
INTERIOR MOVEMENT.

Weekly at IL towns to Oct. Is:
Receipts this week ......,... 242, 020
Same week in 1919 ........ 270, 965
Same week in 1918 .......... 219,649
Decrease compared with 1919 2S,945
Increase compared with 191S.. 22,371
Shipments this week 49,. a.. ITO, $50
Same week In 1919 ......... 177,650
Same week in 1918 ..,...... $780, 58
Decrease compared with 1919 6,9Sl
Increase compared with 1918. 20,411l
Stocks this week ..............1 1854, 046
Same week In 1919 ...,...... 986, 800
Same week in 1918 .1,011,6t0
Increase compared with 1918. 67,726
Increase compared with 1918. AZ,
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16

CHICAGO. Oct. 16.-Cattle, receipts,
5000; compared with week ago.
Choice steers Is to 25c lower other
steers and butcher cattle unevenly a
dollar to dollar and half lower; can
ners and bulls Csc lower; calves 81 so
to SAGE lower; best Western about
steady. Others mostly so to 75c lower
Hogs, receipts. 5000; mostly steady
to I5c lower than yesterdays aver
age; closing weak on hogs weighing
1870 pounds and down; top. slJ.90; bulk
light and butchers, $l4.40dl5,O5; bulk
~ 25c lower bulk desirable kinds,
Si4.50n14.76,
Sheep, receipts. 5000; fat lambs clos
ing % to 40o lower than week ago,
aged tat sheep and yearlings steady;
feeding and breeding stock steady.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
BOND CLOSE.

NEW YORK. Oct is.-Liberty bonds
closed: 3lss, 500. 46; first Is, $50 so,
second is. $500 bid; first 4As, $50 70;
second 4As, $3.50; third ANS. 500. So
fourth 4hs. $s9,52: Victory AIS. Ss6,ls;
Victory ANS, S96.l4.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16

Hugh +. McElroy. well-known mar =
ket expert associated with Carpenter
e. Co., New York, and S. w. Quinn,
Of the same. firm. were in Memphis
Saturday, The latter is a brother a
c. B. quinn. of Memphis, NJ
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
SUGAR.

NEW YORK, Oct. 16.-Raw sugar
firm; Cuba s cost and freight quoted
nominally cents.
Refined steady and unchanged. Fine
graduated II cents.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
LIVE STOCK MARKET.

KANSAS CITY, Oct. l6-Cattle, re-
ceipts, $50; market for week: Fed
steers steady to strong; grassers weak
to soc lower; she stock uneven lot
mostly steady: Gamers and bulls
steady: Vealers so to 75c lower. other
calves mostly 81 to 81 50 lower, feeders
steady to strong; common stock weak;
stock calves uneveny lower.
Hogs. receipts, 400; quality plain;
steady with yesterdays average; few
lights, S1495al5.00: one load heRvies.
$l5.15; odd lots packing sows. $3.50;
top pigs. N4.25dlA75.
Sheep. no receipts; market for week;
Sheep Csc higher, yeBs4ings 80 to I5c
higher; fat and feeding lambs Soc
higher.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
CONSOLIDATED PORT.
ToMoRRows ESTIMATED.

1920 Last wk. 1919.
N. Orleans 10000 5000 1924 6,736
Galveston .1SOOO@2O.OOO 1919 11,925
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
Memphis District.
BANK STATEMENT.

NEW YORK, Oct 1.-THE actual
condition Of clearing house banks, and
trust companies for the week shows
that they hold $26. 256,020 reserve in
excess OF legal requirements This is
decrease Of $9.943, $50 from last week.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16

CHICAGO, Oct. 16.-Potatoes, mar
Sxet steady; Northern white, $1.65Q1.75:
Early Ohios, $1.65@1.75.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16

NEW YORK, Oct. 16.-Butter bare
ly steady; firsts, 4S@5Sc.
Eggs irregular; firsts, 63@66c.
Cheese unsettled; average run, &c,
Poultry, alive, not quoted. Dressed
easy; Western broilers. fresh, 3894Sc;
others unchanged.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
MISCELLANEOUS

LONDON, Oct. 16-Bsr silver. SD
per ounce. Money per cent. Dis
count rates: Short bills 5$@5B per
cent; three months bills. 11-1SG6%
per cent.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16

SAVANNAH, Ga, Oct. 1s.-Turpen-
ceipts, 270; shipments, I; stock, Ii, s2s.
Rosn firm; sales. 5SS; receipts, 1877;
shipments, 40; stock, 1858. Quote;
B, D, F, F, g, H. I. K. M, N, Wg.
1920; WV, HOO.
KANSAS CITY. Oct 16.-Butter,
packing, SAC.
Eggs, packing. 55@62c.
Poultry, hens; 20@23c.
Potatoes unchanged
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16

CHICAGO, Oct. 1s,-Butter easy;
creamery, 400542c.
Eggs unchanged; receipts, 1924 cases.
Poultry, alive. unchanged.
NEW YORK, Oct. 16.-Coffee. No.
Rio, SIS; futures steady. Dec. 6.22;
May 7.24.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16

Read News scimitar Wants.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-10-16
NEW YORK VISITORS.

Total sales 244, 200 shares.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-01-31
New York stock Market.

Wall St, New York Jan. 31.-sTOCKs-
The FINAL session of the week on the stock
exchange openea- with further moderate
strength in steels and equipments, rails
and shippings also contributing to the
advance. Most gains were soon forfeited,
however. when selling of the motors and
affiliated shares precipitated a general re-
yersal. Reactions extended from 2 to 10
points, General Motors displaying marked
weakness. Aside from another slump in
foreign exchange there were no surface de-
yelopments to account for the reversal
Irregular recoveries were made in the later
dealings. The closing was heavy. Sales
appropriated 315.000 shares.
Equipments and steel as featured by Bald
win locomotive, Crucible steel and Repub-
lie iron, were the strongest issues in the
extending yesterdays gains by 1 to 2
points. Motors and the specinlties, includ-
ing rubber shares, also improved with tex
tiles. There was a<moderate inquiry for
rails which started with the low priced
issues. Among high priced specialties.
American tobacco was prominent for its
gains of points.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-01-31
British Greatly Alarmed at Low
Exchange Rates.
Secretary Glass Letter Adds to
Their Nervousness.
NAY CALL FINANCE CONGRESS-
Gold Export Ban Lift win Be
Last Resort.
Fear Depletion Of Reserves Be-
fOre Normal Is Reached.

London, Tan. 31.-Great Britain can
not alter the worlds economic situa-
ton by anything the government can
do with it's money values the Pail Mall
Gazette warned today.
Commenting upon the letter of Sec
rotary Glass of the American treasury
to Homer L. Ferguson, president of
the United Suites chamber of COM
merce, the newspapers declared you
cannot change temperature by manip-
ulation of the Thermometer"
GLASS; letter outlined Americas DO
sition as giving mo more aid to Europe
beyond what has been done and what
is being done now
Publication of che letter here has
focused all attention upon the finance
problem. The Press headlined Glass's
frank statement as mo more loans
from America"
May Call Finance Conference.
Austen Chamberlain, chancellor of
the exchequer. was to confer with a
deputation of bankers next week. 1t
was reported they were to discuss call
ing of an international conference OF
finance in an effort to prevent a crash
in European affairs.
Low exchanges" the Pail Mall Ga
zette asserted, can be raised only by
consum ing less and making and selling
more"
The newspaper recommended that
the government reduce importations of
luxuries, reduce public expenditures
and increase taxation.
Lord Cotwyn, leading banking au-
thority, favored removal gradually of
the prohibition on export of gold, but
said that with the present adverse bal
ance it was question whether this
could be dome without serious risk of
loss of all Cheat Britain's gold supply.
Colwya DECLARED if the gold export
ban could be removed safely, exchange
would right HseH.
Many authorities were reluctant to
comment upon the Glass letter, but
agreed it would have a salutary effect
in making Europe get to work. be-
causa of its fra pkness.