davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
MARKETS UNSETTLED.
DUE TO PRICE DECLINES
Bankers See Prospect of Lift in
Protracted Strain on Credit
Conditions.

NEW YORK. September 25.-The
stock market, especially industrial
shares, was very much unsettled this
week because of Inauguration of
another wave of price cutting which
promises to be far more comprehen-
sive than the movement of last
spring.
Banking interests viewed the situa-
ton with equanimity and were al
most unanimous in the opinion that
the ultimate result would go far to-
ward relieving or correcting the pro-
tracted strain on credit conditions
View Shared by Treasury.
This opinion was shared by Treas
ury officials at Washington. who de-
ciared in effect that the time had ar
rived to refuse all requests for loans
|Cn credits which had their basis on
tue preservation of high commodity
prices
shares most affected in the weeks
reversal were those of companies
more or less identified with the motor
INDUSTRY, notably rubber tires leath-
ers and textiles, in which losses
ranged from 10 to almost 25 points
Automobile shares were under in
cessant bear attack and oils. which
naturally follow any definite change
In the motor trade. also fell back
under pressure with steels. euuip-
ments and coppers
Almost the only shares to hold firm.
when not actually strong, We're the
speculative rails
Large Trading I'm Bonds.
Trading in bonds was unusuallv
large and broad. embracing MANY
hitherto dormant issues The chief
feature, however, was the sharp re-
bound in liberty issues. which re-
trieVed much of their mid-year loss
on buying of a substantial character
international exchange was de-
pressed, British and French rates for
1eltlng the greater part of their re-
cent rally. The fifty per cent dis
count for remittances to Denmark
anu norway reflected the adverse for
elgn trade balances of those conn
tries.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
NEW YORK BANK STATEMENT

new YORK, September 25.-The
actual condition of clearing house
uaf. ana trust companies for the
week shows that they hold S23 sol $50
reserve in excess of legal reouireo
ments. This is an increase of 81 2O5
Inc statement follows. including first
report of Equitable Trust Company.
Inc statement follows, includes first
Actual condition-Loans, discounts
SIS, 600
Cash in own vaults, members fed
erai reserve bank, SSS,SS1 900; de-
crease. s2,012,O0O.
member banks, 1851. 001 900; increase.
$14,010,O0O.
Reserve in own vaults, state banks
and trust companies, Ss.414.O00; in
crease, $4,000.
Reserve in depositaries. state banks
and trust companies, SS,51O000; de-
crease, $4,000
Net demand deposits, s4.14s,so1, 900;
increase. S72. 21 900. United States de-
posits deducted. s175.114. 900.
Time deposits, 2s2.344. 900; increase,
Circulation. ss4.7s1.Ooo; increase.
$4,000
Aggregate reserve, s573.sS5.0
Excess reserve, s23,501 $50; increase.
s4.2O5.S50.
SUMMARY Oh state banks ana trust
companies in Greater New York, not
included in clearing house statement:
Loans. discounts ETC. sTS7,75S,100;
increase. S3.007 900.
Gold. sS,066. 400: increase. s3350e
Currency and bank notes, $500
900; increase. $4,000.
Deposits with federal reserve bank,
New York, s72,330,400 decrease. 81
9SO.100.
Total deposits, sS34,076, 700; increase.
81 536. 500.
due from reserve depositaries and
other banks and trust companies in
New York city and United States sde-
posits, S776,3S7, ZOO; decrease, s4.753.-
900.
Trust companies cash in vault, s72,-
576,600
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
|SL|GHT PRICE CUTTING
| IN STEEL; DEMAND LESS
Pig Iron Sales in Small Lots, Con-
sumers OBSERVATION-DISCLOSURES
Market Easier.

NEW YORK. September 25.-Cur-
tailed demands for steel products
used in the auto. shipbuildinS and
structural lines and oil field goods
resulted in an easier position for
finished as well as semi-finished ma
terials. Plates. shapes and bars have
been offered at slight concessions and
sheets have softened in tone as pre-
are cutting prices. Billets and sheet
bars are offered down 50 to SIS a
ton. The heavy rate of shipments
reproduction eases both the supply
and price tendencies. Mill operations
are steady around So per cent on
Railroad equipment orders are light.
but inquiries substantial
Sales in Small Lots.
small lots. Consumers are conserva-
tive, looking for reductions in line
with similar movements in other in
dustries. Furnaces are booked well
ahead, but still some concern is felt
over a possible dullness in future
buying. Prices have not changed, but
coke is easier, as supply has been
good
The copper market has taken on an
easier tone as regarding open trade
offerings as a result of stagnant de-
mands and ., heavy importations of
European war scrap, which total 6.40O
tons so far this month against eN-
ports of 1886 tons. Producers are
getting little or no business, most
of it going to smaller sellers at Il to
y cent concessions.
Tin is weak and dull. Buying is
at low ebb and declines in London
and adverse exchange influence the
market here. Present prices are the
lowest of the year.
Other Metals in Review.
Lead and zinc continue quiet and
easy as result of heavy importa-
lions and import agencies cut pro-
ducers quotations for lead. Neverthe-
less business is lifeless and unprom-
Using. Better feeling is manifested in
zinc owing to steady Improvement in
London prices the past few days.
Inquiries for antimony are of good
proportions. The market is steady
and unchanged.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
C. M, KEYS TO CONTROL
CURTISS CORPORATION
Buys Substantial Block of Stock
and Will Take Over Direction
of Voting Trust.

NEW YORK, September 25.-Acqui-
sition of control of the Curtiss Aero
plane and Motor Corporation by c.
NJ Keys, vice president and chairman
of the financial committee of that
company, was announced today
through the Manufacturers Aircraft
Associa ton. Mr.. Keys said that he
would assume control of the voting
trust and the financial and manufac-
turing policies of the corporation"
Il have bought a substantial block
of the stock of the Curtiss Aeroplane
and Motor Corporation" said Mr..
Keys, for the Willys-Overland and
the J. N. WHY'S interests and will
take control of the voting trust.
1.-The control of the financial and
manufacturing policies of the corpo-
ration will, of course. also come into
my hands. Mr.. Glenn H. Curtiss will
continue to be head of the engineer
ing division of the corporation and
closely associated with me in the
management.
Changes in the board of directors
and officers will be made at meet
ing of the board scheduled for next
week.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
NEW YORK COFFEE MARKET.

NEW YORK, September 25.-The
market fer coffee futures opened at
an advance of two points, hut there
was very little buying in evidence.
and prices later turned easier under
reports of further recessions in the
price views of Brazilian shippers.
december contracts sold off from
7.S5 to 40, or back to the low lever
of Thursday. and closed at 1867 bid,
with the general list closing at
net decline of Is to 10 points. Sep
TENDER, 7:15; October, 7.20: Decem-
Der, 1857: January. 7.S4; March. s.1I;
May, s45: July, S.63. :,
Spot coffee, quiet; Rio Is. 8: Santos
As. 13a13A The only fresh offers re-
por-sed in the cost and freight market
were of Santos 3s and SIS. well de-
scribed, at Is, London credits. equal
to about 1895 American credits,
which were said to be the lowest yet
received.
change in the Rio market, but a de-
cline of 20 reis in the dollar buying
rate and an advance of X in Rio ex-
change on London. New style futures
in Santos were 100 refs higher. Re
ceipts at the two ports were $4,000;
Jundiahy receipts. $4,000. Victoria
reported clearances of 5000 bags and
Santos 20,500 bags for New York.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
COTTON PRICES SLUMP:
BUYERS OUT OF MARKET

BALTIMORE. September 25 (Spe-
ciaD Careful inquiries made in Bal
timore this week revealed the fact
that slump exists in the wholesale
ttotton goods market in this city
and elsewhere. Prices of cotton ma
terials have declined, on an average,
more than 80 per cent, and in some
instances the drop has been as much
as 10 per cent. The slump, according
to statements made today, is due to
the reduction in the price of cotton
and the falling off in demand. Buy
ers are almost wholly out of the mar
ket, and there is no indication that
they will enter soon again.
These statements on the general
condition of the trade followed adj
vices received from New England
that the biggest cotton manufacture
ing company there had announced
a cut of 33 Id per cent in the price
of manufactured cotton goods. This
announcement occasioned no surprise
in local cotton trade circles. AS a
matter of fact, it was stated that
prices had been down for the past
sixty days, large quantities of ma
terials having been offered at al
most cost But even the drastic cuts
made in many lines are not attract
ing buyers, who appear to be hold
ing off for even lower prices.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26

to have enough ash trays in the
house. The drinking classes won't be
conducted with the aim of makeipg
the gal acquire taste for alcohol.
but so as she can take couple cock
tails or something without busting out
in peals of laughter. They's no need
to point out the advantage of the
brewing and distilling course, a spe-
cially the brewing as l think most
people will agree that knowledge
of lager beer is a whole lot more help
around the house than a knowledge
of logarithms.
The professors of poker will try and
hammer into their pupils beans that
Ia dollar bet on the part of a male
ioppt. don't necessarily mean that he
has got something and also that aces
up can some times be throwed into the
ash can even if they do look pretty.
The music course will include lessons
on the different instruments witch
different people has give me and
witch ! have just naturally mastered
Gordon and whistle. In respect to the
barbering. etc. classes. what man
would ever think of deserving a wife
that shaved him and cut his hair if
any and pressed his clothes and
Skinned his shoes and don't even half
to tip her let alone pay a $500 check.
The chamber maiding course will be
very simple, the object being to learn
prospective house wifes to put clean
towels in the bathroom the same time
they take soiled towels out and not
make the man of the house wipe his
hands and face on handkerchief
|washday mornings. The mathematics
course will be designed to learn wom-
en- to write the same amt in their
stubs that they wrote on the checks
and the art classes will consist of
painting the barn. fence and screens
in oil. A thorough knowledge of up
to-date profanity will enable the
women folks to talk on even terms
with the up-to-date hired gal and
maybe scare the last named into give
ling up her reading long enough to
wash couple dishes.
The Ring School, beautifully sit
uated on a bay on Longs Island, pro
vides pupils with salt water batheing
II you don't mind it being kind of
dirty. to saS nothing about digging
for CLAIMS. Other out door sports in
addition to these is washing, lawn
moving. fly swatting. pushing GO
cart and trying to use the telephone.
The fall turn will open up on the 1
of Oct. and the annual tuition include
ing bed and board will amt. to s4O5. 81
in round numbers includeing the lux
ury tax. Write to
RING W. LARDNER.
Longs Island. Sept "a
Copyright. 1920. by the Bell Syndicate, Inc. }
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26

That brings US to history witch she
took whole 8 yrs. of it and all as
she is sure of is the of july be-
cause she has got to order 2 days
worth of groserys on the 3rd AS for
art, she took course in drawing
but all / ever seen her draw was 2
spades to 3 hearts trying to fill a
flush VS.. bird that had raised the
pot and was standing pat with a ace
full. She mastered music so as it don't
only take her 20 minutes to pick out
Sweet & Low and the sociology and
economies she learnt was pre-war
vintage and what has those got to do
with now days? Further and more. 1
could tell her all about L. S. govt. in
a adjectice of 2 Syllabus. The scol-
lege fixed her taste for literature so
that the LIST. thing she does in the
a M is run for the paper and read the
comics. She is pretty well up in criti-
cism, but what woman amt? Finely.
the only horseback rideing that gets
you anything is a jockey out to Bel
mont or somewheres and you got to
keep yourself down to around 100 lbs
witch the only gals that can do that
could make whole lot more money
in the follies or something; and the
home where this gal I speak of lives
isn't provided with no basket ball
links or even a basket for husband
to throw soiled clothes in it and has
to toss them on the floor.
So all and all what did she get out
of scollege? Well, what she has got
as long as I have knew her is a
bunch of letters asking for a sub
scription to different million dolla
funds to build a new fudge machine
for the campus or something.
haven't as yet got up the ads
witch l intend to run in the different
periodicals for the Ring School, but
can give you a outline of it in few
wds. The school is situated in my
house and lot which is IL acres. Gals
THAT can't stand the cold can sleep in
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26

School for Gals and it won't be no
preparatory school for college or it
won't be no regular college, but it
will learn girls how to be what they
was meant to be. namely a wife.
1t is perhaps unnecessary to state
of the fair sect is college gals on acct.
of my position in society. Well after
reading the ads in the magazines and
they don't mean nothing, / finally de-
cided to get some 1st hand Informal
ton about what a gal really does
learn le in college so I asked the one
that happened to be nearest to me
and here is what found out: This
gal went to a A No. college and here
Is what they give her: college alge-
bra, logarithms, spherical geography,
Latin, German. English. U. S. history,
ancient history, English history. U. S.
govt. art, music. sociology and eco
Monies, literature. criticism. horse
back riding and basket ball. Well
friends, this gal done what most of
them does, namely she married bird
that can pretty near support her and
she don't half to do no work and
don't.
Well. friends, leave us overlook this
matter and try and find out what
place take the mathematical course.
1 been around the house a good deal
where this gal lives and I never seen
case where she would of been up
against it only for her knowledge of
logarithms and college algebra and
as for spherical geometry the only
spheres she ever sees is a orange and
though she passed with honors in that
course, it don't keep her from getting
the juice in her eye like anybody else.
Now take the languages. They
don't nobody dast talk German no
more even if they could remember
it. witch they can't. and as for Latin,
why If the Ciceros was to drop in to-
morrow night and begin knocking
Cataline in their native tongue with
spinach, why this alumina would
think they was talking about island
on of California. In regards to Eng
lish, she was born and dragged up in
home where they didn't speak moth
ing else and had good working
knowledge of the lingo before she
ever seen school and besides never
met gal yet that didn't know
enough English words to keep her
going every minute she was awake
and lot of times when she wasn't.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
RAIL WAY OVER ANDES.
Bill Provides for Connecting Link
in Chile.

SANTIAGO, September 25.-A bill
has been introduced in the Chilean
house of deputies in furtherance of
the long-discussed project to build a
railway across the Andes connecting
Salta. center of a rich agricultural
region of northern Argentina with the
Chilean port of Antofagasta. The
bin provides that the contractors
would receive a state guarantee of 6
per cent of the actual cost of the
railway for fifteen years after it is
opened. The cost is estimated at
SIS, 100000.
The Chilean newspapers comment
ing on the measure say the railway
not only would serve as an outlet TO
Argentina such as sugar, but would
open to exploitation rich mineral
regions of north-central Chile.
The only direct rail route now con-
nectine the two republics is the
from Los Andes. Chile,
to Mendoza, Argentina.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
PLENTY OF TOBACCO.
Traveller Reports Europe and o. s.
Well Stocked Up.

LOUISVILLE. KY, September Is
First-hand information regarding the
tobacco situation abroad has been
brought to Louisville by G. o. Tuck,
a local tobacco handler. after an ex-
tensive trip through western Eurone
Tobacco export is checked, he said.
by the general turmoil abroad. I'M,
favorable foreign exchange rates.
shipping conditions. unrest of labor
in Europe and the resumption of
European tobacco production.
In view of these conditions. he as
serted, it is rather unfortunate" that
Kentucky and other tobacco-growing
states have planted large crops. as
indicated by government reports.
Europe" Mr.. Tuck said, has plenty
of tobacco on hand and many Of
them want to sell to other countries !"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26

prominent in the insurance business
and will, with his associates, who are
all business men, win a measure of
success for the new institution. He
is a member of the City Club, is
active in the Mid-City Association and
is X. of c.
The opening date Of the institution
has been set for, the near future in
temporary quarters. and. soon after.
application will be made to join the
District Bankers Association.
Local Securities.
Stocks on the local exchange have
developed a little weakness, without
any apparent reason therefor. The
movement from day to day is so limit
ed that the small fluctuations repre-
sent nothing more than supply and
demand of the security traded in on
the day the quotation is made. Delay
in the declaration of the preferred
dividend, and the term is used ad-
yisedly, disappointed shareholders. but
furnished no reason for a price reduc-
ton. as it is admitted by officials of
the corporation that it is a delay and
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
CANADA's TRADE GROWS.

NEW YORK, September IS Especially.
The total external trade of Canada
reported for August was S23S, 0S5, 409,
as compared with $202.235.978 for the
corresponding month in 1919. Imports
were valued at $124,31s,014 and ex-
ports at $113,767, 1876. Imports show
an increase of about $43,000,000 over
August, 1919. but exports declined APP
proximately sS,000,000.
The total trade of Canada for the
first eight months of the year was
$1,707. 020.566, or at the rate of $215,-
S77,57O a month. Exports for the
period were valued at SITS. 566,4S5
and of total imports $931.4 64,OS1.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
SYNDICATE METHOD
] Of SELLING BONDS
Commerce Commission Gives
Details of Last New York
Central Issue.

In its order authorizing NE issuance
of s25.OO0.O0O New York Central ten
year ia collateral trust bonds and
of a like amount of the company's
refunding and Improvement mortgage
bonds to be pledged as security for
the short term issue. the Interstate
Commerce Commission Sets forth the
following details of the syndicate
transa ction:
3 The facts in regard to the sale are
briefly these: 1t was made without
competition. Applicant dealt only with
j. +. Morgan & Co. and accepted that
FIRMS agreement to 'endeavor to form
syndicate to purchase from our
selves and associates at 9IGo and &C
crued interest and offer for public
subscription at par and accrued inter
est If this endeavor proved success
full, J. Z. Morgan & Co. agreed to buy
the bonds at 96.5259To of par and ac-
Crued interest, or, in other words,
upon 11aT basis. The associates
mentioned in the agreement Were
eventually the National City Company
and the First National Bank of New
York.
The evidence shows that on Au-
gust Is, 1920. J. p. Morgan e Co. by
wire and letter, invited various deal
erS in investment securities through
out the country to become members OF
the syndicate, notifying them of the
amount of their participation. to
which they were to signify their as
sent by 10 o'clock of the morning of
August 20. when the subscription
books were to be formally opened.
Out of 42S dealers to whom the invi-
tation was sent. including }. L. Nor
gan & Coz. 403 accepted.
THE substitution books were closed
within two hours of their opening and
there were 6.473 subscriptions. at par
and accrued interest, totaling $685.
500, an oversubscription of more than
so per cent The evidence shows that
the contract of conditional sale be-
tween ]. p. Morgan & Co. and appli-
cant was not conSummated until after
the formation of the syndicate on Au-
gust 20.
S1lS325 Profit Made.
1.-The entire cost to the applicant of
marketing the issue was the differ
ence between the par value of the
bonds and the sale price to j. z. Nor
gan & Co, this difference being $685.
525. plus small amounts for taxes,
legal services and the engraving OF
the certificates. ]. 2. Morgan 4 Co.
received as syndicate manager $11s,-
525, which was divided with it's asso-
ciates, and out of which it paid GER
tain clerical expenses. but none of the
other expenses of the syndicate. Inc
syndicate members who placed the
bonds with investors received from
the syndicate for such services COM
mission of ~ per cent on all sales
within the amount allotted to them
and a commission of per cent upon
sales in excess of the allotments. Art
er deducting these commissions and
the expenses of the syndicate, the
portion of the $4,000 remaining was
distributed to members of the syndi-
cate in proportion to their allotments-
This profit amounted to about 101
per cent. Out of the 403 syndicate
members, 26 sold no bonds. 1t appears
that the main items of expense COM
prising the $4,000 were approx
mately $4,000 for advertising and
$4,000 for legal services.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
EQUIPMENT ORDERS.

NEW YORK, September Is Especially.
1T it We're not for the recent in
crease in freight rates." says the cur
rent issue of the Railway Age, land
the confident expectation that the rail-
ways will soon come into the market
for large amounts of equipment. the
totals of orders for cars and locomo-
tives placed in the month just passed
would be something disconcerting. T"
Orders during August, according to
this publication, were for only four
teen locomotives and 6,176 freight cars
for domestic service. OF the freight
cars considerably more than half were
included in the order for $500 for the
Union Tank Car Company. Orders
last month were the smallest SO far
this year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
Lardner Says He Will Open
An Unusual 'SchoOlforGa

the garage and the more ruggeder
ones will have their domitorys out
doors, and as our yard is a series of
terraces, why they will be reduc-
ton in room rent for the gals that
sleeps in the uppers.
AS l said a vile ago the objects OF
the school is to fit gals to become a
wife, and with that end in view. the
courses will be as follows: Caddying
smoking. drinking. brewing and dis
tilling. poker. profanity, music, art,
barbering, cleaning and pressing,
shoe shining, chambermaldlng ana
mathematics.
| Caddying is not only a good thing
for economy sake, but when a wife
has got a education along these lines
she is more libel to see her husband
once in a vile and maybe get him to
come home and visit. The object of
the smoking course is to learn women
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-26
NEW YORK DRY GOODS.

NEW YORK, September 25.-Cotton
unsettled and quiet today. A large
manufac turer of staple hosiery re-
duced prices rs per cent New lines of
silk hosiery We're offered at prices per-
hitting retailing at SIPS per pair Wool
goods were quiet, kuit goods openings
more numerous and burlaps inactive.
Price quotations follow: Print
cloths, 2S-inch. 64x64s. IL; 64x60s,
10k; 3Saa Inch, 64x64s, 16: brown
sheetings, southern standard. 81;
denims, 2.20 indigo, A nominal; tick
ing, S-ounce, 42k; prints. % nominal;
staple ginghams, 20; dress ginghams.
25 and 2712.