davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1920-03-14
Sir George Paish Says Commercial
Credits Poor Remedy for E mope

pay for the goods they buy from
other nations.
The announcement recently made
that the British and French govern
ments intend to redeem the $780,
100000 Anglo-French loan which
natures for payment in America in
October and will send whatever gold
is necessary to accomplish this re-
demption is a matter of consider
able Importance from the point of
view of exchanges. Repayment of
this sum will increase Europe's ad-
verse trade balance with the United
States in the current year, but re-
mittances of something like $780,
100000 in gold should substantially
increase the cash reserves of Amer
lean bankers and thus enable them
to grant a very large amount of
additional credit.
Whether or not this will happen
will. of course. depend upon the ex-
tent of Americas exports of gold to
South America and the Far East.
If these exports correspond to the
amount of gold imported then ship
ment of gold from this side will
merely prevent American bankers
from restricting credit, but will not
allow them to expand their loans.
South America and the Far East
may not have the power to obtain
as much gold in the current year
as they imported last year as ex-
ports of British goods to these
countries should show substantial
expansion and should allow Great
Britain in some measure to provide
for her adverse trade balance.
AS matters stand the gold which
Europe will send to America this
year will be needed to offset Amer
ica's exports of gold in South
America and prevent restriction of
bankers credits.
The conference that is expected
to be called by the league of nations
to meet at Brussels to discuss the
European financial crisis will now
be awaited with very great interest.
By that time events may have NOV
ed in such manner that the addi-
tional measures needed to deal with
the situation can be no longer post
poned.
Copyright. 1920. Public Ledger Coz
The Washington herald., 1920-03-14
CwashingtOn Herald-Public Ledger
Service, Special Cable Dispatch0
BY SIR GEORGE PAISH.

London, March 1.-THE Supreme
Council is apparently not yet fully
conscious of the great difficulty of
taking care of Europe's adverse
trade balance as it maintains that
the necessary means must be found
by commercial credits. Were the
supply of commercial credits merely
dependent upon exporters and i'm
porters no difficulties would arise:
but unfortunately the situation is
one which demands new methods
and for which ordinary commercial
credits are not the remedy.
Normally, traders have not to
think about how money is to be re-
mitted from one country to another.
After goods have been purchased
the bills are presented for payment
and Is charged. But they are now
confronted with the fact that after
goods have been sold and turned
into cash it is not possible to remit
that cash from one country to an
other except by offering to sell it at
relatively ruinous rates to specula-
tors who are prepared to supply ex-
change. Even then the debt of one
country to another is not dis
charged, but merely remains in
dDeydHCe-
AS the supreme council does not
yet fully appreciate the exceptional
nature of present needs l fear the
situation will not be adjusted until
experience teaches statesmen and
people what needs to be DONE Only
when ordinary floating credits can
be converted into more or less per-
manent credits as they mature will
the exchange difficulty be settled.
Nevertheless 1t is all to the good
that the statesmen of Europe are
now devoting serious attention to
the exchange problem and are in a
way of learning the lessons which
events will surely teach them.
1t should be clearly understood
that the governments of Europe rec
ognize their responsibility for their
own governmental obligations to
foreign countries even though they
do not recognize obligations to pri-
vate traders unable to exchange to
The Washington herald., 1920-03-14
Rail Mergers.

1t Is the opinion in some con-
servative railroad offices that clas-
sification of roads and systems into
the rate groups as provided in the
transportation act is one of the
greatest tasks confronting the In
terstate Commerce Commission. So
far most of the tentative plans for
a grouping of properties to COM
ply with the law have. in the opin-
ion of some railroad heads, been
done from the financial angle alone.
To be of practical value in the
development of the transportation
of the country the grouping should
be done from the viewpoint of the
service to be rendered by the phys
ical properties. or course 1t is gem
orally admitted that the question
of financial expediency must be con-
sidered. but 1t is believed by many
operators that this should come after
the grouping has been done from
the angle of service and deyelop-
ment.
The Washington herald., 1920-03-14
Cities Service Holders
Profit by Stock Div. Decision

The decision of the United
States Supreme Court in the
stock dividend case means much
to the holders of common stock
of Cities Service Company. as all
stock dividends which have been
declared by Cities Service Com
pany are affected by this de-
cision. Cities Service Company
in 1916 paid per cent in stock
dividends and second per
cent in 1917. In 1918 8 per cent
was paid in stock dividends and
in 1919 IL per cent.
Up to January 1. 1920. Cities
Service Company had paid in
stock dividends on its common
stock a total of 33 per cent. or
$9,109.326 par value of common
stock, which at current quota
tions represents a market value
in excess of $33,000.OOO.
In addition to these stock div
idends, Cities Service Company
had paid on it's common stock up
to January 1. 1920, cash divf-
dends amounting to S7,0OS,O77.
The Washington herald., 1920-03-14
MONEY.

New York, March 13.-Money on
call on the New York Stock Ex-
change ranged between Is and
per cent during the past week. as
compared with 10 per cent high
and s per cent low in the previous
week.
Time money continued firm this
past week. being quoted at s to 9k
per cent for loans on all industrial
collateral and S12 to 9 per cent for
loans on mixed collateral.
Mercantile paper rates were also
unchanged. being quoted at 6& per
cent for Hhigh grade names and Z
to IA per cent for names less well
known. Interior money rates were
unchanged today.
The Washington herald., 1920-03-14
PROPOSED BILL TO FORCE
ELIMINATION OF STOCK DNS

A prohibitive tax on the privilege
of issuing dividends in stocks was
proposed in the House yesterday by
Representative Green, Iowa, Repub-
lican. member of the Ways and
Means Committee.
His plan is to prevent large cor
porations from evading taxes by is
suing dividends in. stock. which the
Supreme Court. last Monday held
cannot be assessed by the Federal
government.
Green would make the tax for the
privilege of issuing stock dividends
so high that the stockholders would
find it more profitable to take their
dividends in cash and pay regular
income taxes on them.
The Washington herald., 1920-03-14
Automobile Production
Running at Record Rate

Output of the automobile facto-
ries of the United States is now
running at the highest figure in the
historT of the industry.
Approximately 400 frames are
being delivered to the Ford Com
pany daily, which would indicate
that this company has either al
ready brought or expects shortly
tc bring it's daily output up to
this number of cars.
In the first five weeks of the cur
rent year General Motors turned
out $4,000 cars, or an average of
$500 cars a day, but it is under
stood the present output is nearer
1000 cars.
A 4.1O0-car schedule daily for the
Ford Company would mean a yearly
output at the rate of 1,250,0O0 cars.
The Washington herald., 1920-03-14
VENABLES ELECTED CASHIER
OF STANDARD SAVINGS BANK

At meeting of the board of di-
rectors of the Standard Savings
Bank yesterday Dale S. Venables
was elected cashier and secretary
Mr.. Venables Is fully qualified to
enter upon his new duties. having
been directly connected with bank
ing for nearly fourteen years. He
was formerly manager and assistant
treasurer Of the Northeast branch of
the Home Savings Bank.
The officers of the new Institution
are Algernon s. Gardiner, president;
Z. D. williams and J. Rozier Biggs,
vice presidents; I. s. ID. Sauls, treas
urer. and Dale s. yenables. cashier.
and secretary.
The Washington herald., 1920-03-14
FAILURES LAST WEEK.

Commercial failures last week in
the United States. as reported by f.
G.. Dun G. Co. are 129 against lis
last week. $50 in the preceding
week. and l57 the corresponding
week last year. Failures in Can
ada number 16 against 16 last week.
II the preceding week, and 10 last
year. OF failures last week in the
United States. SO were in the East.
34 South. "a West. and 81 in the Pa
Cific States. and 60 reported liabili-
ties of $4,000 or more, against 81
last week.
The Washington herald., 1920-03-14
SHORT SELLERS
AGAIN CAUGHT
issues Run Up Sharply
Causing Scramble Among
The Bears.
CRUCIBLE STEEL LEADS
Short Interests in This
Stock Badly Beaten as
Pool Advances Price.
CRUCIBLE STEEL LEADS

New York. March 13.-The Ger
man revolution scared Wall Street
about fifteen minutes today at the
opening, but did not break prices.
The liquidation resulting was quick
1y assimilated and the whole list
advanced. Traders figured that the
money squeeze was ended for the
time being and pools became active.
In Reading and Crucible particular
ly and Vanadium there was excited
buying. Most of the other popular
stock advanced with but slight
reactions at the close. Crucible
made new high record at
thevery end of the trading. The
high price of Chandler was a record
also. Readings high price was a
new top for the year.
The situation in Reading has
reached an interesting stage. Ru-
mors persist that the so-calIed
Livermore interests have been eX-
ceptionally big buyers of the stock
during the past two weeks, and
that this buying was the direct re-
suit of information received from
reliable sources to the effect that
in the not distant future Reading
shareholders will be we'll cared for.
The action of the stock would
lead one to believe that something
unusual is under way. of late Read
ing has taken its old rank as leader
of the rail group. This. after the
stock has been dormant for some
time past.
As to Cha the Street is thor
oughly convinced that a stock divi-
dend will be declared in May. or pos
sibly earlier. Cleveland interests
! were heavy buyers of this issue dur
ing today's short session.
1t has been known for some time
that the short interest in Vanadium
was of large proportions. and it has
been surprising that some action
against this interest has not before
been taken by those in control of
Nanadium's market.
The Washington herald., 1920-03-14
AMERICA BREAKS WORLD
SHIPBUILDING RECORD

In the calendar year 1919 more
ships were built in the United States
than in all the rest of the world or
in any previous year of our history.
In that year 1888 ships were con-
structed, compared with 1884 in
1918. The following table shows the
number and tonnage of the different
kinds of vessels built in the two
years concerned:
The Washington herald., 1920-03-14
1a1s
1919
Total. 1,ss4 2,s22, ,5ss ASS 4,2Is

On January 1, 1920, the total reg
istered enrolled and licensed Amer
lean shipping consisted of 28,5O0
vessels of 1a.ss 900 errs. ton..
The Washington herald., 1920-03-14
NATIONAL MARKETS s..:. :.:..
Active New York Stock Exchange

FURNISHED ny MooRHEAD ELMoRE)
Members New York Stock Exchange
LIBERTY BONDS
The Washington herald., 1920-03-14
DOLLAR IN DENMARK.

Copenhagen. March 1.-THE value
of the dollar within a week has
dropped from krone to SIS krone.
The Social Demokraten" attributes
the fall to the stopping OF the Inn
portation OF American luxuries.
The Washington herald., 1920-03-14
Investments
Local Securities.
wasAI.stoa stock E1eA..sa
SALES,

SALES.
Washington Gas 5s. $500 at 81, 81 900 at
%, $1,000 at 81 81 ZOO at 81, $1,000 at 81.
$1,000 at 81.
Metropolitan Railroad bs, $1,000 at Of.
Potomac Electric LIST 5s, $1,000 ut o.
1000 at 92.
Capital Traction. 10 at 81. 10 ut 81.
washington Railway and Electric pfd.,
10 at %. 10 at So. at 81,
washington Gas IS. $500 at 81.
AFTER CALL
at 81. $1,000 at 81, 81 900 al 81. 81 600 al
81. 5000 Mt 81.
washington Gas, 25 ut 46H, at 46ik.
Public UJfiIffv uo-a.
Hyder Alaska miner., 1920-04-09

This Paper 10 Out to Publish all
the Miuing News. Keep Your
Fritnd& Posted by Sending them
ths Paper after You Have Read
it. boost for Hyder all the
Time.
Hyder Alaska miner., 1920-04-09
First Court Ever
Held in Hyder

Commissioner John T. Reed heard
his first case in Hyder this Friday
and released from custody w. H.
Wheat, who had been arrested the
previous night on a charge made by
Margaret Fern, whose house was
busglarized while she was absent
and over $50 stolen from her trunk.
The commissioner deemed the evil
dence insufficient to warrant bind
ing the prisoner over. Both CON-
plainant and accused are colo1ed,
Mr.. Reed, at the close of the hear
ing, stated that the government is
determined that law and order shall
prevail in this community, and that
secret service men would be sent
here if necessary.
Hyder Alaska miner., 1920-04-09
Hyder Has
Close Call
From Fire

BY being late this week the Miner
is able to report a fire which com.
pletely destroyed building owned
by Adolph Anders, the "Canaonball
Kid" and for time threatened the
total destruction of other buildings
of the piled area. 1t was only bv
the most heroic efforts on the part
of Hyder residents that the flames
were confined to the one building
and the partial equipment provided
by the Commercial Association
proved indispensable.
The fire occurred early Saturday
afternoon, and evidently resulted
from a defective fiue. The house,
which was one of the first built in
Portland City, as Hyder was former
dy named, was occupied by Mrs.
Margaret Fern and Miss Edith Ber-
ger. both of whom were absent
when the flames were discovered.
Mrs. Fern conducted a laundry there
and this was her second misfortune
of the week, her place having been
robbed two nights previously. She
managed to reach home in time to
save her household effects.
Hyder Alaska miner., 1920-04-09
THE MIDGET EMPORIUM

By combining two names handed In,
or rather, making use of half of each,
H. ii. Howard has secured name which
suits him. and the Up to Date Store. will
hereafter be known as the Midget En-
porium. Emporium was chosen because
the name suggests strength. and Midget
because the store is small The prize
money of $40 is divided between Miss
Maud Bishop and W. r. Hull
Hyder Alaska miner., 1920-04-09
HOME LAUNDRY MOVED

Mr.. and Mrs. Jack O'Connor have NOV
ed their home laundry TO their new resi-
oence on Cottonwood between Feurth and
Fifth streets and now have tUetn for a
greatly enlarged business. They have
made an unqualified success with their
laundry and have been compelled to Sc.
cure help to handle the trade which has
grown even beyond their original expec=
tatiofis.
Hyder Alaska miner., 1920-04-09

Captain John Irving, one OF the best
known ship masters and mining men of
the Pacific coast, spent the week visiting
with NJ. R. Jameson. Captain John is
owner of a group of claims adjoining the
famous Engineer mine at Atlin and will
do considerable development this year.
He first brought vessel to Skagway At
years ago, His present home is Victoria
Hyder Alaska miner., 1920-04-09
HANSON IN STEWART

Hafky t1ahson. the Prince Rupert plum
Der; is now i'll Stewart and has already
Installed Rot water SYSTEMS iii several
places. inclddlhs the Northern Gill, Rid
ieys and Beale's restaurant, BY the use
Of his batsht COBB he enables ANY stove
owner to have almost instantaneous hot
water In any amount. Seeing is believi--
Ing. snd Hyder folks have a chance to In
yestigstS 81 making 4 trip 70 Stewart:
Hyder Alaska miner., 1920-04-09

Louis Watkins, one Of the original own
ers of the Unicorn, and still heavily in
terested in mining property here. is back
from Indiana where he spent the winter
with relatives.
Mrs. Dora Burnett, q mining woman
from the interior of Alaska, has arrived
In Hyder to take hand in the GENE here
after spending. several months in the oil
fields of Texas.
Lon DogGett and F. w. Petrie who
have contract to drive 200 feet of tunnel
on the Unicorn, were down this week.
They are now in 1873 feet, and expect to
finish next month.
Dalby B. Morkill, B. @. land surveyor
and publisher Of the famous Morkill map
of Salmon river district, has arrived to
begin his seasons work. He has opened
an Office in Stewart
Jack Lambert has purchased a power
saw from Nelson and Heath and gone
into the wood business. He did this at
an opportune time as the town was fac
ing a wood famine.
Captain A. NJ. Sobieralski, brother of
Mrs. VIM. Gray. visited the camp this
week. He was in command OF the patrol
boat that destroyed the German submar-
inc that sunt the Lusitania.
Harry Howson. superintendent of the
Forty Nine, has gone to Vancouver on
business. In his absence his position
will be filled by Wesley Warren. who re-
Gently arrived from Sidney Inlet,
w. R. Hammer, secretary and treasurer
of the Portland Wyoming Oil Syndicate,
who are drilling In the Ferris field of Wy
oming. has been in Hyder this week. He
is en- route to Katalla to look that field
over for his company.
Mrs. Helen " Estmere, for IS years a
resident of Alaska, is putting up a room.
Ing house on the forest reserve which will
contain % beds. Mrs. Estmere's husband
who was a mining and civil engineer,
died In Juneau In 1917.
X. j. Suratt. Alaska field operator for
the Gaumont weekly pictorial service, has
finished his work for the present in this
section and will return to Wrangell. He
was fortunate in securing some very fine
pictures portraying the business and other
activities of the district.
W. A. Meloche. engineer in charge in
this district for the Aleunican Syndicate,
went to Ketchikan Wednesday to meet
the vice president Of the syndicate who
is out from Belgium. They will 90 to
Rupert together. and Mr.. Meloche will re-
turn from that port on the next G. C.P.
boat.
Hyder Alaska miner., 1920-04-09

That the most important road
building that could be undertaken
in this section this season consists
OF an approach for a wharf will be
earnestly impressed upon the gov
eminent by the Hyder Commercial
Association, who held their regular
monthly meeting Monday night and
took action in this regard. The
meeting was one Of the most inter-
esting ever held by that body and
marks another step forwaed in the
business development Of Hyder. A
committee was appointed to take
the wharf approach up with the gov.
ernment, and the letter prepared by
them appears in another co1Wmn.
Votes Of thanks were rendered
Sam Estes who managed the street
improvement dance, Miss Arthur,
owner Of the building, and Ed Jones
one of its occupants who prepared
it for the dance,
US. Deputy Marshall John Ronan
volunteered the information that
the construction of a bridge across
Salmon river is assured, and also
that steps are being taken for the
establishment here of radio sta
ton, Delegate George Grigsby hay
ing taken the matter up with the
War Department and Signal Corps.
Hyder Alaska miner., 1920-04-09

Tn Salmon River District Is
t5arveleuAly Rich in Minerals
snd Hyder 10 the Gateway In
Consequence Of Which Hyder is
the Fastest Growing Town in
the North.
Hyder Alaska miner., 1920-04-09

The Miners Hotel was given real old
fashioned housewarmins Monday night
In celebration of its being officially open
ed to the public. Mrs. Anna Weiss. the
proprietor. showed the true instincts of
hospitality. and the refreshments provid-
ed were thoroughly appreciated. The So
clal amenities commenced Immediately
following meeting of the Commercial
Association held there, and that body, to-
eether with numerous other visitors. agreed
in praisins the manner in which the aft.
air was conducted and in admiring the
decorative effects produced by the hostess
and her capable assistants.
Hyder Alaska miner., 1920-04-09
PERSONAL AND PERTINENT.

H. H. Howard has considerably enlarg-
ed his store.
VIM. Papke has gone to work at the
Big Missouri.
D. j. Mclean. a builder from Victoria.
is recent arrival
John Dahlberg. hard rock man from
the interior. Is recent arrival.
Bill McGrew has sent lumber to Eleven
mile for Improvements on his cabin.
Dan Mcdonald. foreman of the Big
Missouri, was down early in the week.
Billy Ellington who has been cooking
at the Forty Nine, came down Wedpes.
day,
L. A. Doyle. building contractor of
Seattle. arrived this week and will 30 in
to business here,
Charlie Berg arrived Tuesday from An
chorage. He was hard rock contractor
on the Alaska railroad.
Mrs. Nels Glantz, who had a barber
shop on Main street last summer. has re-
turned from a trip outside.
C. NJ, Pratt. who was in business here
last summer. is back from Seattle and
Portland where he spent the winter.
Harvey Crumm. formerly of the build
Ing contracting firm of Stevenson and
Crumm, Hazelson, has become resident
of Hyder.
VIM. Filler. former foreman of the
Lakevlew, is back from Vancouver. He
has property up the Salmon and will
some work soon.
AL Sweeney and H. A Allen mushed
up to the Forty Nine Monday, the latter
taking his dog team along to haul some
wood for the camp.
Oren r. Hill, the druggist. returned on
the Prince Of Wales Tuesday from Ket-
chikan, having made speedy recovery
from touch of pneumonia.
VIM. Hobill, who has been in most
camps in B. c.. and who took In the big
show in France. is here to, work with
Daily B. Morkill. the surveyor.
The site Of the Spider camp was reach
ed Wednesday by Superintendent John
Rowland and his crew of men and snow
shoed horses who are taking In supplies.
VIM. Bunting, one Of the original loca-
tors of the Premier and other important
properties up the Salmon. has returned
to camp after spending the winter out
side.
Hyder Alaska miner., 1920-04-09
Ask Funds
On Dock
Approach

Letter from
Association
Committee
The following letter is self explain
atory.
Hyder, Alaska, April 7, 1920.
Major W.H,Waugh;
of Alaska Road Commission,
Juneau, Alaska.
Dear Sir
At a meeting of the
Hyder Commercial Association held
at Hyder, Alaska, Monday, April S,
the undersigned were appointed a
committee and instructed to COM
municate with you in the matter of
road building in the vicinity of Hy-
der, and we beg to present the mat
ter to you in the following light:
The citizens of Hyder have been
informed that the Alaska Road
Commission has a considerable sum
of money at its disposal to be spent
in road work in our section, and be-
lieving that any information we
may be able to give the Commiss-
ion in regard to requirements which
will advance the upbuildine and
development of this section and the
Territory will be appreciated by the
Commission, therefore we submit
the following outline for your con-
sideration, The present road lead
inc from Hyder to the mines of
both Alaska and Canada will not
contribute to the upbuilding of AL
aska unless proper connections are
made with an American dock built
on American territory. At present
all materials and supplies for this
section must pass over a Canadian
doch and through Canadian terri
tory. In other words it must 90
out of American territory into Can
ada, pay Canada for that privilege,
and then return to American terri
tory. This condition is an enor-
nous handicap on the Americans
in developing this section, and calls
for relief, If relief be at all possible,
and with the cooperation of the AL
aska Road Commission can be made
an accomplished fact.
Inc way to relief is through the
building of a dock on the American
side, and have the road start from
that dock. The building of this dock
is a costly undertaking. and one
which capital will undertake with
extreme caution. 1t is made costly
owing to the extreme length of ap-
proach over the tide fats necessary
to connect the dock with the road,
and any company putting in such
a dock Under present conditions
Would be put to the expense of bull
ding considerable road to render
their dock seFvicible: Owing to this
additional road work necessary to
a dock, private capital hesitates to
undertake this much needed i'm
provemeht; In view of this fact
we desire to suggest to your Com
that they build thia app.