davidaulloa/AmericanStories huggingface dataset:
The dispatch-news. [volume] (Lexington, S.C.) 1919-2001, 1920-06-16

: a Reaching gPrpnn Have Been 70
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Thousands wmNowRap
The Washington herald., 1920-07-23
THE DOLLAR IN FOREIGN EXCHANGE.
GRAIN MARKET.
LIBERTY BONDS.

Chica go, July 22-Grain prices
held steady today and the close
showed substantial gains compared
with the previous finish Wheat
closed near the best price of the day
and gains of to 2l= were recorded
Corn closed lSs To 81. higher and
oats showed gains of J.. to 1c.
Wheat opened quiet with an un-
steady tone. At midday there was
talk of high temporal in the
Northwest, especially the Dakotas
and this caused late buying. On the
break commission houses bought
freely and there was some buying
by one of the big elevator interests
Corn opened nervous, but gained
strength as the day wore on. There
was "A good commission house de-
mand early. but the bulge brought
out good selling. News factors were
mostly bearish. IT was expected the
corn movement wDuld show a de-
crease because Of diversion of cars
to the wheat belt.
Oats was traded in at levels be-
low the previous close. The weak
est spell was shortly after the open
ing on profit taking sales by houses
with country connections. \ rally
in corn strengthened oats later and
the close was firm. Cash premiums
were unchanged at &c over July for
No. . white.
The Washington herald., 1920-07-23
COTTON MARKET.

New York. July 22.-New history
was made for prices for cotton
futures today when July sold at
1915. or 81 points above the previ-
Gus high mark. Trading in current
July contracts will cease at midday
tomorrow.
The market opened steady at a
decline of points TO an advance of
10 and during early dealings showed
little change. There was trade in
July after the opening at i3. The
later months after selling off about
20 points under yesterdays close,
fully recovered the loss after IL
o'clock.
Attention in the early afternoon
was ccntured on July which continu-
cd to advance steadily. The urgent
dcmard which sent the price to 1919
around midday apparently was filled
Later months then ruled dull and
Lheavy.
In the final half hour there was
an avalanche of selling Of new
crops. which dropped more than a
full cent. July held around 1926
and finished at a net advance of %
points. The remainder of the list
closed with a net loss of 125 to $50
points.
Spot here was quiet with mid
ding IS points higher at 1915, no
sales; at New Orleans il was steady
with the revised quotation of mid
ding fixed at 40 cents, sales 1,l66
bales.
Receipts at Galveston were 1898.
New Orleans 1.2T5 and Savannah,
500 bales
The Washington herald., 1920-07-23
Secretary Houston Thanks Labor for
Stand Regarding Government Securities

Keen appreciation of the educa-
tional, economic and financial policy
recently adopted by organized labor
as a factor in the protection of
holders of Liberty bonds and gov
crnmcnt securities and the advance
ment of individual and national
welfare and prosperity was express
ed by Secretary of the Treasury Da-
vid +. Houston in a letter to Samuel
Gompers, made public yesterday.
Secretary Houston's letter was In
acknowledgment of the action taken
by the Montreal convention of the
American Federation of Labor,
which urged the purchase Of Lib
erty bonds at present prices and
their retention until maturity by all
union members and reiterated in
dorsement of the thrift and savings
campaign of the government.
The letter declared that il the
principles adopted by the American
Federation of Labor were followed
by the nation, all holders of gov
ernment bonds would be protected,
for the basic intrinsic of these Sc
curitics backed by the good faith
and resources of the nation were
anu WOulu remain SO.
The reiteration OF the principles of
thrift, saving and safe investment
Secretary Houston said, could not
but tend to the welfare both of the
individual and the nation.
Secretary Houston's letter was as
follows:
The Treasury Department has
learned with keen interest of the
educational, economic and financial
policy outlined by the American
Federation of Labor, in convention
at Montreal, looking to the ad-
vancement of the financial welfare
and future prosperity OF the indi-
vidual and the nation through pur-
chase and retention until maturity
of government securities.
The patriotic part played by or
ganized labor in the financing of
the United States during the war
The Washington herald., 1920-07-23

already has been fittingly acknowl-
edged. Permit me to say that, In
my opinion, the policy of the Ameri-
can Federation of Labor. enunciated
in resolution No. 90 at Montreal.
faithfully and successfully carried
out. as l am sure il will be, will
perform no less a service in time
OF peace.
The prosperity, the stability and
the well being of the nation and of
every State and community in it is
inseparably linked with the pros-
perity. the financial independence
and the moral strength of it's citi-
zens. Waste and extravaganza will
produce not only economic ills. but
inevitable individual deterioration
and unhappiness. The reiteration.
therefore. of the principles of thrift
saving and safe investment, out
linede so forcibly in the Federation
resolution. cannot but tend to the
welfare both of its members and
the country as a whole.
Nowhere are Liberty bonds more
widely distributed than among the
ranks of organized labor. Both the
Treasury Department and the Amer
lean Federation OF Labor are desir-
Jus VI the nOlQerS OF
these government obligations. They
can protect those who hold their
bonds and buy more, but they can
not protect those who sell at pres
ent prices. But il the principles
adopted by your organization are
followed out by the nation, all hold
ers of bonds will be protected, for
the basic, intrinsic value of the Sc
curitics backed by tho good faith
and total resources of the nation, is
unchanged and will remain un-
changed.
Il sincerely hope that the request
of the Federation for the provision
of facilities for partial payment
purchahe of Liberty bonds and Vic
tory notes may be accorded the
hearty and Immediate response from
employers. banks and other agencies
which 1t deserves"
The Washington herald., 1920-07-23
COALOFFICIALSl
AT WHITEHOUSE
Illinois Committee, Repre-
senting Day Wage Men,
Call on Wilson. 5

Growing out of discomfort with.
the award of the United States
BItuminous Coal Commission. the
day wage men in a large number
OF mines in Illinois have refused
to work further. AS a result sub
stantially more than one-half of the
mines in the State are idle and the
daily production OF the State is re-.
duced to 100000 tons per day, or
less, as against the normal daily
output Of $4,000 to $4,000 tons.
Recognizing the extreme gravity of
the situation, since Illinois is ex-
pected not only to provide for its
own home markets, but to furnish
a very substantial increased coal
movement to the Northwest StateS
this year, a committee of Illinois
operators were yesterday at thu
White House presenting the facts
of the case and urging that such
action be taken by the President
as within his Judgment would meet
the situation.
cupy a highly important position
with reference to the fuel welfare
of the Western country. The mines
'"VsC i"O oNdNeS nave SHOWN a n
ability, based on their performance
of 1918. where with sufficient car
supply they have worked twenty
two days only out of each month.
to load regularly approximately
$4,000 tons. of coal day. or about
II, 100000 tons per month. If alt
or any substantial part. Of this
production shall be stopped by mine
strike. the recent program laid
down for the coaling Of the North
west cannot be met
Just what action the government
will take is not yet known.
The committee Of Illinois opera
tors is as follows: Illinois Coal
Operators Association. F.. c. SearIs.
president: F. G. HonnoId. secretary-
treasurer: Coal Operators Associa-
ton. Fifth and Ninth districts, II.
-. Perry. vice president: F. S.
Pfahler: Central Illinois Coal OPP
orators Association, H. c. Adams,
president
The Washington herald., 1920-07-23
MONEY.

New York. July 22.-Differences
of opinion are expressed by even the
leading banking interests regarding
the course of the money market in
the next month or two, and while
they agree that there will not be
any easy money. it is thought that
the constant preachments of the
necessity for def1ation and econo-
mics will gradually alleviate the
situation. 1t is pointed out that de-
velopments in the future for which
extraordinary preparations are made
are rarely as grave as forecast.
While only practical considerations
will obtain in the money market.
sentiment among bankers as well
as business is favorably Influenced
by the indications of bounteous
harvests in this country.
In reference to current report.
that new money was coming into
the market on call from Canadian
banks. an institution which lends
more money than nearly all the
other Canadian banks together, de-
nies that there has been any change
whatever in the direction of larger
offerings for account of the Domin-
lon in this market.
Prime acceptance rates are for
prime 9O-day New York member
bills SIS bid and 6H asked. For
s0-days 6L per cent is bid and s
per cent offered.
The situation is unchanged in
prime mercantile paper which is in
moderate inquiry in the country
sections. Rates are being governed
by the collateral loan fixed date
market.
Time money on all Industrial COL
lateral is . per cent bid with Offer
ings negligible.
Money on call ranged at per
can't all day.
The Washington herald., 1920-07-23
CONTINUED STRENGTHENING
OF LIBERTY BONDS EXPECTED

Continued strengthening of the
values of Liberty bonds on the open
market is expected. according TO the
opinion of Treasury officials ex-
pressed yesterday, as additional
money is invested in the govern
ment securities.
Large interest payments on i.-
dustrial and railroad securities on
July / and July Is are being in
vested in Liberty bonds as the ia
vored investment for the money.
Added to this factor government
purchases of Liberty bonds are pro-
crossing steadily as a part of the
Treasury's program of Iiquidating
the outstanding debt of the country.
Government bond purchases alone.
it was pointed out. are contributing
powerful influence upon maintain
ing the values of government Sc
curities at high levels.
The Washington herald., 1920-07-23
FINANCIAL OUTLOOK.

New York, July 22.-Presiden,
Clark. OF the American Exchange
National Bank, who only recently
returned from an extensive visit in
the Orient, says: Il feel that the
financial outlook appears brighter
even though money is higher than
it was several months ago. OF
course it is necessary to be eau
tious and for business people to
heed the warning which high money
indicates.
IF car movement improves it
will go a long way in materially
helping the credit situation during
the crop moving period, and / do
not believe there is any doubt but
that there is going to be a better
movement for which. with action of
the Pennsylvania Railroad, it is
bound to be impressed upon the
minds OF employees that they have
not been giving efficient service"
The Washington herald., 1920-07-23
SHIPPING SITUATION.

In the study of the American
shipping situation by the Bankers
Trust Company, New York City. the
conclusion is emphasized that A
prosperous. operation of America S
new merchant marine is largely a
matter of balance in types of ships
constructed. 1t states that types
of ships considered essential to Il
ell-balanced modern mercantile
fleet are large, fast ships. inter
mediate ships 'tramps" and tank
ships. The larger. speedy vessels
arc efficient in the service between
the great European and America n
seaports, but for world wide trad
ing ii is the freighter-the so-callcd
tramp" ship-which best meets all
requirements.
The Washington herald., 1920-07-23
U. S. FOOD PRODUCTS.

New York. July 22.-Earnings of
the U. 5. Food Products Corporation
are showing remarkable increases
and net profits for six months end
ed June 80 last are estimated in ey-
cess of s3,000,000. For the first five
months the actual profits were
$2,10O, 900.
Profits of $4,000. 900 for the half
year mean that the company has
earned interest charges and per
cent dividends for the entire year
and has a surplus of SS50,000.
The Washington herald., 1920-07-23
INSURANCE FIRMS REFUSE TO
COVER JAPAN's OLD BOATS,

Tokyo, July 22.-Japan's worn
out freighters seen doomed, due to
the refusal Of insurance Arms to in
sure them any longer. AS there 10
now more tonnage than Is required,
shippers have come to pay greater
attention to the selection of ships,
and thus new boats will force out
those Of concrete and wood As q
matter Of fact. hundreds of wooden
and concrete ships are now tied up
in America. Insurance companies
refuse to cover risks on such ships,
and no shipper IL willing to en-
trust goods to such vessels. As a re-
suit. diiapidsted ships will be
driven out OF the heid by good ones.
The Washington herald., 1920-07-23
GOLD AND SILVER.

The Federal Reserve Board an
nounced yesterday that total inn
ports of gold from all countries for
ten days ending July 10. amounted
to S9,67O.4 .459; exports for the same
period totaled s9.S40,673. Total inn
ports of gold from all countries
from January to July 10 amounted
to Sl34.l21. .626: exports for the same
period totaled s205.256,543.
Total imports of silver from All
countries for ten days ending July
10 amounted to s2,544.5S1: exports
of silver for the same period to-
tailed s3S7.295. Total imports of sill
yer from all countries from January
to July 10 amounted to S5S,62S.-
COZ: exports for the same period
totaled S2,50S,943.
The Washington herald., 1920-07-23
CHAMBER OF COM
MERGE ORGANIZED IN MANILA.

announcement has been made
from Manila that an American
Chamber of Commerce of the Phil
ippine Islands has been organized
there. It's purpose. as stated in the
articles OF incorporation. includes
the development and protection of
american trade in the Philippine
Islands and Far East; provision of
means for the convenient exchange
OF ideas; perfection of plans for
promoting resources of the islands
ana the cultivation of friendly re-
iatlons between Americans and ORR
entails.
The Washington herald., 1920-07-23
HIGHER PRICE FOR MAIL
SERVICE MAY BE ASKED FOR

Railroad directors may ask the
Interstate Commerce Commission
for higher rate on mail transpor-
tation in order to help raise reve-
nues to meet the .ss0o.0O0.000 wage
award granted the workers. rail-
road executives meeting here say.
At the Postoffice Department 1t
was said that any increase in mail
rates would probably result in
higher postal charges.
The Washington herald., 1920-07-23
TREASURY CERTIFICATES.

Secretary Houston yesterday an
nounced that the total amount of
subscriptions allotted for the two
issues of Treasury certificates of
Indebtedness dated July Is, 1920.
(Series B-1921, maturing January
is. 1921, Series Il. NJ. 2-1921, matur-
ing March Is. 1920 was s2o1, ,O61, 900.
The subscriptions allotted were
divided among the several Federal
Reserve Districts (Which are ranked
in the order of the percentage of
their subscriptions to their Quota)
The Washington herald., 1920-07-23
GILLILAND OIL COMPANY.

Gilliland Oil Company's report of
operations for the six months ended
April 30. 1920, shows gross income
OF S4.562,049, which after deduction
OF general and administrative ex-
penses of sls7.64S. and reserves for
depreciation and depletion and Fed
eral taxes of s2,67s.3s1, drilling ex-
penses. etc, Of s452,024, leaves a
net profit OF ssl-2sk.aek. s-vs s'ess
The Washington herald., 1920-07-23
PIG IRON.

Pittsburg, July PET. w. Friend,
president of the American Pig Iron
predicts higher prices
for pig iron and attributes the
prospected advance to the un-
precedented price of coke and i'm
pending freight advance. The sale
of coal in the open market has
been made at $3.50 ton with
coke at s21, which are record
pricas
The Washington herald., 1920-07-23
CENTRAL RY. OF GEORGIA
TO PAY INDEBTEDNESS

Authority yesterday was given by
the Interstate Commerce Commits
sion to the Central Railroad of
Georgia to guarantee uncondition-
ally the payment of the first mort
gage of per cent thirty-year gold
bonds OF the Ocean Steamship Com
pany of Savannah, due July l. The
issue has an aggregate face value
of $1,000, 900.
The Washington herald., 1920-07-23
STOCK MARKET
AGAIN LISTLESS
Professionals Believe Turn
ing Point in Market Has
At Last Come.
GARY IS OPTIMISTIC
Wall Street, Having Suffer-
ed Most, Should Be
First to Profit.
GARY IS OPTIMISTIC

New York, July 22.-Judge Gary
said today that he had not felt SO
optimistic regarding business for six
years. He said he had been sur
prised recently at the increasing ef-
nciency in the steel mills. Labor
has at last realized its response
oility. 1t means that the turn has
come
Wall Street having been the most
drasticaily cleaned out, fumigated
and humiliated department of Amer
lean industry. will naturally be first
to recognize the new order of things.
Another period of weakness in the
sugar list was the feature Of trad
ing. but after sharp break these
snares recovered practically all their
losses. In the rails also there was
some decisive buying and in the
oils.
The break in sugar stocks has
been due to the decline of sugar op-
tions and that in turn has been due
TO the sudden appearance from mys-
terious sources of vast quantities
OF the commodity that had been held
by profiteers. Vast as this secret
hoard has been il cannot make up
Tor the deficiency of the crop this
year. The crop is now practically
harvested and weighed in so that
the producers know exactly what
they can do.
OIL Stocks.
The good buying of oil stocks that
has been the feature of the market
for the last month was continued.
There is a suspicion that some of
the wells so earnestly expected have
really come in and that announce
ments are being withheld for the
psychological moment when they
will do the most good. Reading and
Canadian Pacific displayed the most
strength in that department of the
market. All the rails are we'll
bought. 1t is generally believed
that the wage award will be ac-
cepted. The fact that additional
dema nds will be formulated immedi-
ately by the men is not so impor-
tant, because Congress has said the
railroads must make a certain per-
centage on their investment
Two of the best judges of rail-
road securities discussed today the
relative merits of the stocks traded
in by Wall Street. They agreed that
an important feature in buying rail-
roads was the interest charge and
that therefore everything else being
equal the stock selling for the
smaller number of dollars per share
was to be preferred
Pennsylvania Railroad.
Pennsylvania is discriminated
against because the war has de-
stroyed its remarkable personal
force of freight solicitors. Millions
of tons were before the war sent
over the Pennsylvania that belonged
geographically to other lines. The
Pennsylvania had a force which for
personal efficiency was without
equal anywhere in the world. The
individuals of that force are now
scattered and shippers having been
left to themselves for several years
have learned to route their own
freight and in most cases are doing
ii geographically. Much OF il will
never go back to the Pennsylvania
again. The Pennsylvania has seen
its best days as an investment prop
osition.
The Washington herald., 1920-07-23
NORFOLK & PORTSMOUTH
TO RENEW ITS NOTE

Application yesterday was made
to the Interstate Commerce Com
mission by the Norfolk and Ports
mouth Belt Line Railroad for au-
thority to renew its note for $3.50, 900
with the National Bank of Norfolk
at the rate of per cent until July
16, 1921.
The Washington herald., 1920-07-23
Mexico Removes Expectation
| Embargo on Sugar
Adyices Yesterday

Advices yesterday were received
by the Department of Commerce
from Trade Commissioner Cunning
ham at Mexico City. that the Mex
lean embargo on the expectation of
sugar has been removed. The Mex
lean export duty on sugar, the re-
port said. has been increased to
twenty centavos per kilo or about
Az cents per pound. On July I
ths export duty on sugar Was in
creased from ave to ten cehIayss.
The Washington herald., 1920-07-23
MORE SILVER FOR MINT

silver purchased by the Director
of the Mint yesterday totaled 23, 900
ounces. making a grand total of
7,6s1,0o0 ounces purchased since
passage of the act.
The Washington herald., 1920-07-23
Total Subscrip-
FRENCH FINANCIER COMING.

Paris. July 22.-The Ministry of
Finance win send representative
to the United states within q few
days with reference to the payment
OF the french part OF the Anglo
French s5oo.ooo.ooo loan. 1t was
learned today.
The Washington herald., 1920-07-23
STOCKS EX-DIVIDEND.
STEEL AND TTBE EARNINGS.

New York, July 22.-The Steel e.
Tube Company reports for June and
for six months ended June so last
as follows:
The Washington herald., 1920-07-23
Before buying securities i

might be well to investigate
the solidity of the security as
well as the house advising its
purchase. Hundreds of mil
lions of dollars are taken from
an unsuspeeting public each
year by scheming individuals,
The Washington herald., 1920-07-23
To Holders of
Cities Service
Company
Convertible Gold Debentures
Series c, Seven Per Cent

Holders OF the above Debentiires may con-
vert on August /, 1910, or on the arst day Of
any month thereafter, ten per centum tl0Tct
Debentures- owned by them RESPECTIVELY on
July L, 1870. Conversion must be requested
by, such owners prior to August /, 1890, or
after. and upon delivery by them on or be-
fore August J. 1920, or on or before the hrst
day of any month thereafter. Of the Deben-
tsres SO desired to>be converted properly en-
dorsed, IL registered, to Henry J.. Doherty
4 Company, Fiscal Agents, such Debentures
will be converted into Cities Service Gem
pany Preferred and Common Stocks M the
basis set forth in said Debentures, certif-'
Gates for which stocks will be issued and
transmitted to such owners In. the amounts
respectively due. s sNI.
Henry L. Doherty & Company
Fiscal Agents, Cities Service Company
90 Wall Street, New York 8
ne tsd -Jnix n lo10r
The Washington herald., 1920-07-23

Local Securities.
Washington srock Exchange.
furnished By Moorhead . Einora
Sales Yesterday. !

Sales Yesterday.
Washington Gas Be-. 500 at TAN.
Capital Traction. 10 at IS.
Washington Ry + FL. pf. 10 at 44z, % at
ID, 2S at 45. 70 at 45. % at 45.
Washington Va. Ry. com. Is at 2&.
Continental Trust, 10 at i07.
Mergenthaler Linotype, 2 at 1891.
Washington Ry. & FL. com, 20 at 15k.
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1920-10-19
NEW YORK WINTER
QARDEn -PABBINd SHOW"

willie and Eugene Howard. the P"pu-
lar New York Winter Garden c0modlnnH.
come Ia the Court Thurndny. Friday ana
Saturday with Saturday matinee In Inc
gigantic. ElitthrinB. gorgeou" IanSihB
Show -
This extravaganza Il tho most bril-
linntIy HprctaCulur and Overwhelmingly
amusing or any or tho twenty AK OK -
trnvnganuns produced nj Tho winner
Garden To fully undcTHtnnd Tho eSl"ht
Of this revue all ono nocd know In thht
n 4. I'm two artH nnd nftrcn CUl0hhhl
n,rnrr In tho way or Fun and 1O'hlhT.
nv tho "I'usHinE show" iU of compound
mirth. a potent clkrr, rnVlVlfylnE 90
srnCn all tho most important drhmhIlr
pu,-cesnen OF tho ysnr arc rHr"diod Hhd
,h.ro 10 benidrH "a hugo condemnation
uf nonu aud dance nEorEooun bargain
I'm Amusement Tho book and lyrl'H al
Tho "ruauinE HhWw" hIo 10y Harold At
tcridEc, tho munlr by hlEmuih it"hh''R'
md loan HchwnTtL Tho show han been
ntnued by ! g Hoffman. ana tho dnn'
lnp numbers arranged 10y JnCh Mnr""
A., on,h "IuaHlnE Elbow" In n onmhlnn-
lion of IrayouIy aud Extravaganza, II 70
uuIrrn a very vpTlcd collection Of talent
Every branch OF HtnEo art IN r"I'r"h"hl" al
ia thono Hh"wh. Practically Ia" nnmo
ru,nnnny which was at tn" Now YORK;
Winter Garden with tho II"wnrd1 will
DO soon horr. whlIo prominent In IhH
Cnst nro such hOHhlinCrH M Roy Cum
mInrr. VIII Thllbrlck. Edward lsaHH",
Edward Cutler. victor noZnrt. JACK ana
Frank Hall. lIolcn CnrrlnRiuh' TIn'Iy
Miles Alexandra paEmur, Dolores SIIH-
rcZ F1oronCo Cummings, i"KGy brown.
milo Shaw, Clara Lind Thclmn Soy
mour and tho Winter Gnrdcn'a roHcaic
garden OF radiant ElrlE. nm onuIErht "H-
vcrcncc OF engaging onchanirosS"H.
Seats arc now on "l", curtain
promptly Mt and 3 owing to length
or pcrfOrmancc