davidaulloa/AmericanStories huggingface dataset:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
CAN'T keep PRICES
ART|F|C|ALLY HIGH
Plenty Of Money for construc-
tive Investment, Little for
Speculation

New York, Oct. 30.-The financial
outlook is presented today in the Her
aid as follows:
The eagerness with which new bond
issues have been bought In the last
month or two, and which continued un
abated in the current week, should not
be ignored in association with the re-
stricted operations within the securities
markets In general. In other words,
there has developed q lively investment
interest at the expense Of the specula'
tive and semispeculative.
The reason is perfectly obvious, al
though as an argument 1t has been
worn quite threadbare-limited loan
accommodation for other than essential
purposes. The post war period Is one
of intensive constructive enterprise.
The financial resources of the nation
are absorbed In the undertaking.
What cannot be done in the way of
development during a period Of war
must be done after war. and. in addi-
tion the wastage of war must be made
good II is a double task, and the
United States at the moment Is In the
midst Of il. The other nations with
which the United States has been most
closely in touch commercially and in
dustrially are engaged In the same task.
Tho burden presses down on all Of them
and creates an international problem.
There is plenty of money available
for constructive investment. but not a
great deal for restricting marketing Of
crops or bolstering inventories in the
interest of keeping prices high. Were
IL otherwise. inevitable readjustment
would be hampered at time when the
slate should be cleaned as speedily as
may be consistent with basis for or
derly rebuilding.
The moment is one of especial tight
ness in money because funds are being
withdrawn from the financial centers,
incidental to the seasonal crop require
ments, because the government is ask
ing payment Of bank deposits to meet
high current expenses aggravated by
short term borrowing over a long period
past and a long period to come, and
finally because the banks are being
called upon to finance heavy current
borrowing on the part Of domestic in
dustrial and railroad corporations and
OF foreign governments and munich
palities.
New borrowing of one character or
another fell not far short of S175, =
OOO.OO at this financial center in the
week closing today. while this govern
ment took out of the banks some S44, =
600. 900 of it's deposits.
Under those conditions banks were
forced to call in loans. The result was
nominal market for time loans and
light operations in call at minimum
loaning rate of 8 per cent and a maxi
mum. of 10 per cent for the five days
running.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
DEMAND FOR STEEL
PRODUCTS SLUMPS
Decrease Being Felt In Every
Producing District in
Country

New York, Oct. 30. - Since Judge
Gary's speech TO the American Iron and
Steel Institute, which referred to the
high prices and virtually recommended
equitable reductions, there has been n
further decrease in the demand for
steel products, and this is being felt in
virtually every producing district in
the United States at present.
While many of the independents
maintain that Judge Gary's remarks
had for their basis the prices for all
commodities. and not necessarily steel
quotations, It is. nevertheless. the be ]
lief among consumers that when the
judge speaks he has in mind mainly bis
own industry. and. therefore. thev nm.
parently have decided to wait for fr,r
thcr reductions in prices before placing
contracts.
Despite all that has been said on be.
half of the independent companies n
Is known authoritativcly that sales of
steel bars have been made durin. the
last week at another cut Whereas. nil
the reports indicate minimum Of three
cents for this product, more than one
consumer has found IL possible TO gcr
deliveries within thirty days at a shade
under that price.
What is perhaps most significant IL
the admission from various producing
points that price shading is being in
dulged in and that new business hos
dropped preccptibly. 1t will be recalled
that up to several weeks ago tho reports
cmanating from these producing centers
discrcditcd the statements made in this
column that the situation was decidedly
unsettled.
Now 1t is being admitted that con.
sumcrs are out Of the market and are
not doing much toward seeking steel.
Of course, there are some users who
are in need Of various products, but On
all such orders there are prolonged ne.
gotiations and invariably the buyer has
been able to get early deliveries at CON-
cesSions from the quoted price.
President Grace, Of the Bethlehem
Steel Corporation, after the meeting Vt
the directors at which the regular divi.
dends on the common stocks were de-
clared, admitted that there had been
lull in buying, but added that he be-
lieved the present wave of liquidation
was healthy" and would clarity the
situation considerably.
Railroad buying Is Snid tn have
shown signs of improvement. especially
with some Of the independent makers.
Rail bookings have increased. but nt
best these are merely mill reservations
thus far, rs no price has been fixed
and this question will be matter OF
agreement between the buyer and the
seller.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
LITTLE INTEREST
IN LOCAL SHARES
Growing Dissatisfaction in
Market Circles Concerning
Rapid Transit Situation

Dealings in the local market dwindled
to small dimensions, which was to be
expected, in view of the uncertainties
attending both the political and general
business situation. \ further restraint
was supplied by reason of the fact of
only one full market session intervening
before election on Tuesday. Undcr the
circumstances there was II general dis
inclination To either extend old or make
new contracts. As result, prices for
most of the more prominent local shares
were either stationary or with slight
fractional changes. United Gas near
the close advanced to 81.
The week movements in local stocks
were governed by conditions outside
rather than by influences within the
market itself, or by developments Of
purely local character.
The continued tension uf the money
market, coupled with disturbing trade
news, naturally rX"rtrd restraining
influence. which. perhaps, was further
intensified by III" unsettled state Of
other prominent security markets. Some
h"aviurSs developed among tho utility
shares, more particularly the street
railway group, This was easily trace.
able to the apparent growing dissatis-
faction in financial circles concerning
the local transit situation.
Thj, concern does not apply 50 much
to the immediate situation, but rather
more to the future. The unfortunate
side is that innocent holders Of the
securities should suffer loss Of money
and investment return because differ
euces have arisen between various in
tor"~tS and which, from all signs.
promise to become very bitter. The
temporary relief granted by the Public
Service Commission. from the stock
market viewpoint, does not and will
NOT settle tn" local transit muddle by a
long shot. What is most desired is the
creation Of more harmonious working
relationship between the contesting in
tcrc,ts, At the moment, unfortunately,
the breach would seem TO be widen
ing, as personal feelings have entered
very largely into the controversy.
This il 10 be regretted in view Of the
more generous attitude shown by state
commissions in all parts OF the country
toward the utility corporations, which
as every one knows, have been greatly
hampercd by the abnormal conditions
created by the war.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
NEW YORK COFFEE MARKET

New York, Oct. 30.-The market
for coffee futures opened 80 to 81 points
higher this morning on the advance of
"S in the rate of Rio exchange in Lon
don and the higher brazilian markets.
Two days ago, there was heavy
liquidation, attributed to group of To-
cal banking interests and this morning
1t loo ked as If these same interests were
covering ON large scale. December
opened at 7.4O and at once sold to 7.75.
Some expressed the opinion that pos
SibIy this group of financiers had pri
vate advices regarding possible action
on the part of the Brazilian Government
regarding a scheme to stabilize prices
there
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
FOREIGN EXCHANGE

New York. Oct 3O.-Opening feuro,
In the foreign exchange market shou;
as compared with yesterdays closing
tTinses ti,Se ot 1g cents In sterling. 10 CEN
ana 3h In marks, The market gener.
ally was weak.
Quotations were:
,raDc Demand nd. sterling 80, cables S44a.
37S: checks 3,72; guilder cables 30 az
checks $685. pesetas cables ISa2
checks 1925; Stockholm cables 10 10
checks 1870 Christiania cables 1885,
GO; marks 1872 = N'e1NS
Central European exchanges showed n
loss Of 9 points in Jugo- Slavta to .s3.
down 2 points. respectively, at 1853 and
l.lO. Austria lost Y to BIZ Other
quotations were unchanged az follows;
Finland, 22O; rubles. / cent Greek,
$50; Polish marks. .32
New lows for the week were estab-
lished by the end of the first hour of
business. The declines were in part at
tributed to the fact that commitments
were closed today, as Monday Is Lon
don bank holiday.
From the high OF the week, 3.49H for
sterling cables. the rate fell by II O'Clock
today to 344B and demand to 3439s
compared with 3,46A for cables and
3.45% at the close yesterday. French
G.@2 for cables and 6,3l for checks. Lire
fell to the lowest rate that has been
touched I'm number OF weeks past, 37l
for cables and $40 for checks. Belgians
reached net decline on the week OF IS
centimes to 666 for cables and G65 for
checks Swiss cables were 1859, checks
1864 marks dropped IA from yester-
days close to 1928, the lowest figure yes
terday at the opening.
Yesterdays FINAL QUOTATIONS.
, Sterling Francs Lire GuiIders
Demand .'', 8.453 9,3I S.73 SO45
TODAY's OPENING sUOTATIoNs
Sterling Francs Lire Guilders
GSpies PS%e.d ,..,. '.. 81. s.ttt SS$$3 S53 sS$s
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
GAIN IN BANK CLEARINGs
Only City In East to
Show increase for Week

y Philadelphia was the only city in the
naSt TO show n gain in bank clearings
thls week, The aggregate exchanges of
she u ne, local clearing house association were
SiWn'V2l .o62. against 1896, ,11O.370 this
week last year, or a gain of III per
cent. New York lost 14.2 per cent.
while Boston was "A per cent below last
Total clearings of all the clearing
eTn nonses eSo IN the United States were S.,
3Sd0'2oo' Sco iS4, compared with so. .232'-
ooo.ooo the corresponding week in 1919.
or a loss of 90 per cont. i''
Comparisons follow.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
RECORD OIL CONSUMPTION
Geological Survey Reports Loss In
Production During September

Washington. oct. 3O.-Consumption Of
petroleum reached the high record figure
of 48,67O, OOO barrels in September, while
production decreased slightly, the Geo
logical Survey reported today in It's
monthly statement. The average daily
production was placed at 1,26l,5OO bar
rels, as compared with l,27O,s70 barrels
in August
The deficiency in domestic production
the Survey stated, was offset by net i'm
ports of l0,9l4,0O0 barrels, the largest
ever recorded IN single month
Decreased production was ascrihed by
the Survey to lessened returns from cen
tral and north Texas and north Louis
lana.
California, in September. attained he
record daily production of 3O4,267 bar
rank. Montana also went ahead Of Colo
rado.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
Commodity Markets
COTTON MARKET

New York, Oct. 3O.-Thc cotton mar
kpt onencd weak at a decline of 40 to
81 points under general selling led by
Wall street. the South and local IN
terests. Influenced by bcarish textile
trade reports from abroad, as well as
from domestic manufacturing centers'
absence Of killing frosts South, and the
comparatively small October deterlora
tion In crop conditions as reported by
the journal of Commerce.
Trading continued active, with in
creased offerings on rallies. and prices
after the opening ruled barely steady.
Private predictions We're for frosts
tonight over the central and eastern
belts.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
Methodist EpIscopni
FAIRHTLL N. r. CHVKGII

9th and CIearHeId SIS,
ELIAS b. BAKER. Minister.
e30-Class Meeting, George Fowler
leader.
lo:30--Misslon.ry Address. Mrs. F. H.
Morgan. OF New England.
2:80-Sabbath School. Mr.. Theo. r. MfLer
Supt. OUR AIN-1OOO" "
70n--League. leader. Mr.. F. Whitley.
745-Worshlo and Sermon. Real Faces
and False Faces
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
Financial Briefs

The average price OF twenty active
Industrial stocks advanced O.47 per cent
" sterday to S5.0S, while twenty rail-
roads advanced the same extent TO 82.57.
The New York subtreasury gained
10000 from the banks yesterday.
William T., Cadbury NJ. Brantley El-I
lis and Harold A. Hanes announce that
they have formed partneIShip. for ths'
purpose OF dealing in n,iHvestmSflf seeSirf-
ties, under the ufrm name OF Cadbury,
Ellis q Haipes. 30l Franklin Bark
Building. ~
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30

'5L per cent on paper secured by ~, nor
cent certificates, and per cent on paper se-
Gates. '
tDiscount rate corresponds with interest
rate borne by certificates pledged as collat-
OF Philadelphia, Atlanta. Kansas City and
Dallas, and ba per cent In the case of
Cleveland, Richmond Chicago and San Fran,
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
THE BETHLEHEM PREsBYTERhN

CHURCH, broad and Dlamond Bis,
Rev. WILLIAM L. MCCORMICK, Patol'
10 $50 a. m-Morning Worship. a.,
CITY. viii occupy the pulpit IN the moufG
$40 ., m.-Sabbath School.
8:45 D. m.-Young Peoples Soc. ofq b.
7:45-Evening Service.
The Pastor will preach In the e'fhs
Subject, THE GREAT ELECTION.1
Fine music by our quartet choir.
Everybody welcome. -
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
RELIGIOUS NOTICES
Baptist
THE TEMPLE

Broad and Bcrks SITS. u9oo NJ.
5000 Seats.
RUSSELL II. CoNwELL. Pastor.
William Dyre McCurdy. Associate Pastor.
Frederick r. S.arke. Organist.
Mr.. Conwell breaches 1890 a. m.
80 y. m. Combined Temple Chorus sings
Bible School. Jere l.. Cresse. Supt. 2:3o
D. m. Reception Committee and Ushers
Association makes all visitors welcome.
For reservations. phone Diamond 837.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
LIVESTOCK QUOTATIONS.

ChicaSo. Oct. O.--HOGS--EstimateI re-
,eiutE 1000 head: few sCattrring Sues, strong
10 ioc higher than Yesterdays average;
sis 10 paid for light butchers. left over 1921
'rcskTrI E-Estlmated rcrcUrs. "O0O head,
sHIcEP-Estmntcd receipts. 1000 head.
plttxburxh, Pa, oct 10 IICTS-Re-
S.sSs p's y1rssrs 5S"" "a 81 o5 sht SorkSrs l
Sis 9b6h1I; pigs tl36Ofl2 -
SHEigP AND LAMBS-Rrceipts 300
head Market steady Top sheep, $3.50 top
"it''ALVEs--Recepts 100 head Market
lower, Top, si7
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
Protestant Episcopal
CT pHTERIs CUITRCH

Rev EDWARD II. JETFERYs. s, 7 D.
7;3o a. m.-IIoly Communion.
II 100 a. m.-Morning Service and SrmTTn
by the Rector. The Choir will sing IT,
Deum In c." Lutkn; Lord OF Our Lie
Fled. ,,,
500 p. m.-Evening Service Wit S nr",
address. Special music by choir i r, tor.
men and boys: ''sanctus" tSt. ec,'
Nass) Gounod with tenor solo by NJ,
Weir) Sweet ls Thy Mercy. BaThY
with soprano solo by Master RAIN ,,r,, mTI
MANN: "In Humble Faith" Garitt, ,wT ",,1
soprano soto by Master Everett SiDert',
"Nagnlhcat in F." w, q. Wood ln'
length OF this service is Just one EoyHr,
Advance copies OF these programs VIII Nv ~,
mailed to any one who will write to 'n'
Church for them.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
MoNEY.LENpING RATES

PHILADELPHIA-Ca per cent |;
time. per cent commercial paper three
to six months, 6 per cent.
(Note-These are merely nominal
quotations. as the legal rate Of interest
in the state of Pennsylvania Is fixed at
per cent. Plus premiums and commits
sion, time money for thirty to ninety
days Is loaned at to Sh per cent. while
commercial paper. from three to six
months. is being offered at s to S12 PEI
cent?
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
FINANCIAL
Dividends

Il,E UlRAkD NAIiuNAL DANk
Philadelphia. Pa. Oct. 2B l9no
The Board of Directors has this day de-
eiared a quarterly dividend OF five per cent
6c5), PAYABLE November Ist, 1890, to stocI
Hoiders OF record at the close Of businesa
Gclobsr 2ttH. 1920.
Checks will be mailed,
CHARLES NJ. ASHTON Cash,e-
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
Ethical Culture

There Is No Vision the People Perish"
New Century Hall. i24 8 18th: 3 m;
MORAL ISSUES OF THE CAMPAIGN"
Speakers. Thomas Raeburn White. Russell
Dusne. Miss Jean.tta Moore. Miss Gtt-
trude Ely.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30

LOSDON-Monev is quoted at per
cent. Discount rates. short bills 5I2 %
SIS per cent; three months bills SO
6 Lie per cent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
Friends
THE OLD MERION MEETING HOUSE. sIt.

uated on Montsomery pike Merion. 10 oDep
for services every First-day Sunday
morning at II o'clock. 1t was built In
1882. Here william Penn worshiped. Ons
OF the Oldest most historical church edl-
fees In this country. Cordial invitation
extended to visitors.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
A BIG REMOVAL SALE OF
BOILERS
RADIATORS
STEAM AND

HUT-WATEK HEATERS
We must make Immediate dlssosIlIOn OF
our enormous stock Of Boilers. Radiators
Steam and HOt-Water Heaters Etc. Of every
description account OF moving from our
present quarters Every article in stock
imost OF which we recently purChas sed from
the Government Salvage ROardl has been
considerably reduced in price and IL now
selling below manufaCturer's cost. Just a
visit to our yards and you Will convince
yourself.
GORDON & FREEDMAN
2i0 Canal St. New York City
Tel. Franklin 3nO3
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
BAR SILVER

Bar silver was I'D higher in Londor
today at 521ad
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
DIVIDENDS DECLARED

vaige Motor Car Co., l per cent for oc-
gagsels November 10 % stock Of
~ harvester Co. Aquarterly
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
Reserve Banks Discount Rates

Official rediscount rates at the twelve Fed
eral Reserve banks are as follows.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30

oet Tunl 4Hs North'n States L.. 100
l... IS Power Co IS U Rub 7hs
Erie Gen Lien 1... 9OH 1..... 9sh
l.... 4SIs Ores q Col =. U'd S Steel bs
Erie Ry Co As 10. ... SsA 2... 03&
7.. 30 b.... SSH Vera Cr Ans
g.. 50A Pa RR gm Al 5.... 2S
Sen'l Elect is 4..... SO Wabash r 1st
g.. 100 Penna X r Is 3D.. 80
l.... 100 H.. 105 West'n " 4
g.. 100 T.... 1O4h Pa r 1st
.... 80. H.. 105 5.... S8h
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30

PROPOSALS FOR THE INSTALLATION OF
an Electric Lighting system in the New
Power Plant Building. Office OF the officer
In Charge ot Construction, Frank'ord Ar
senal PhiadrIphia Pa Sealed proposals q
will be received here until . p NJ November
g. 1890. and then opened Tor Installation a,
stated above. Plans and SvecIhcatio on
applicatia
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30

ARCH ST. CHURCH. 18th and Arch
l0;+5. Or. MACARTNEY wi! preach o.
The Probat ionary Element in Mans LIE
Al he will preach the final sermon n
the series to young men and young woTn,l
on the Periis OF the City. his subject being
OF the wrong kind OF friends. and how t5e
words. He Had Friend make htilri
epitaph for many wrecked and hr9sS,
will preach series OF sermons on no
cardinal doctrines OF Christian theology
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-30
ProposaIs
DEPARTMENT OF PUBLIC WORKS
BUREAU OF WATER

sealed proposals will be received and
opened at Room 2l6 CITY Hall. until -
o'clock noon on Tuesday. November o. 1920.
Contract No, I@O-Lay!ng g.. 81. 1O' and
Contract NJ, 49O--Furnishlng and deliver.
ing g.. g.. 10" and -" water pipe
Contract No; +3l-Lay!ng IS" water pipe
n West PhilRdel pha.
Contract No. 432-ChlorIne apparatus.
Contract No. 4S3-Special casting for
Queen Lane Pumping station.
Contract No 43+-Steam flow meters
Snfract SSntfraStt No. 43S-RU0RITssTrn 3SRURITsTneatGrs tssd ~
Contract No. 43T-Electric generator
For full informa ton and particulars apply
O Room 7SS. City Hall.
FRANK II. CAvEN
The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1920-10-22
Able DEFENSE OF. :.
DEMOCRATS MADE
!. BY MIR. PADCETT
IN SPEECH THIS AFTERNOON
REPRESENTATIVE POINTS OUT
WAY FOR VOTERS.
CONSTRUCTIVE WORK OF WILSON
Contrasts the Great Record Made by
the Party With That Of the Repub-
ican Congress During the Past Two
Years.
From Mondays Daily Herald. J

(From Mondays Daily Herald.)
To a fair sized audience that almost
filed the auditorium of the circuit
court room Representative Lemuel P.
Padgett, democratic nominee for re-
election, spoke this afternoon in the
interest of the democratic party. The
speaker was given the closest hearing
by the audience which frequently APP
plaudel his timely thrusts at the en-
envy.
Mr.. Padgett gave a most interest
ing convincing resume of the legisla-
ton that has been enacted during the
six years that the democratic party
had controlled the executive and leg.
islative branches of the government.
He said that during the past two years
the republicans had been in absolute
control of the legislative branch and
therefore must be held responsible for
the failure to enact legislation so
much needed during the period Of re-
adjustment
Mr.. Padgett went over the record
made by the democrats from the pass
age of the federal reserve act on down.
He spoke of how the country had pros
The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1920-10-22
B. A. SatterfieId & Go.
.IhD|CT HUNDREDS
NOT PAYING DOG TAX
MORE THAN 200 ARE HAILED TO
COURT IN LAWRENCE COUNTY
FOR THAT DEFENSE.
(From Saturdays Herald.)

(Erom saturdays Herald ~
They are after the folks in Law
renee county who are not paying
their dog taxes. Attorney General
Looney B. White recently warned
the people of that county that they
would be prosecuted if they did not
make settlement OF their canine taxes
and the recent grand jury indicted
over 200 for this offense. The Law
renee Democrat makes the following
report:
1.-THE Grand fury which has just adj
iourned, has doubtless broken all re
cords for Lawrence county in the tre-
mendous amount of work done and
the number of true bills returned. The
total number of true bill is between
23O and 240 No other jury has repor-
ted, more than half as many. Almost
as many more cases were investigated
where the evidence was not sufficient
to justify an Indictment,
i. ,.All but 56 of the PSI Indictments
returned were for failure pay dog
tax. Other indictments were for var
ious offenses including attempt 10
murder: arson forgery; passing pad
checks; violation of age of consent;