davidaulloa/AmericanStories huggingface dataset:
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-06-09
To CIarkshurc.

Ms Myrtle Mckinney Is LEAVING 3;;
8 5I NAV for Clarksburg where she w, VIII
(: an ! meeting OF the Board Of Man asa
: s. i y 9 : mi = Tro:iam committee Of me
: -; 1iss.a!a BAPTIST Summer as Fem
Il I wh;fi vii be he.., at B. ,o;.a, :
I. m Board viii make arrange: slnS-
!. Nj o. tie assembly when p. S;c,
b. he best yet hclt and w nani
y, 90, .cr3ed by hundreds OF Bay
s ss3.t o. the safe.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-06-09

n 'l!,,,ono, i'd by Mrs. Harvey
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-06-09

headng-Miss MarIowe. ,.,,.or
sccial hour with the following aos :
ss $500 Iesdames A. H Hunsakel, ~, p.
4 Grimm, Clyde Polling, GoIaaa,s
ssHoMalter and Miss Mary DeBassey,
The Washington times., 1920-08-27
BALANCE
CURTAIlED
Higher Money Rates and Big
Business Caution Is
2 Responsible.

The big export balance OF the Uni
ted States is due to be still more
sharply curtailed. The Federal Re
serve Board. in a survey of export
trade conditions, today predicted con-
tinued decline In exports. as a result
partly, of the disincIinstion OF finan.
ciers to back the movement of goods
abroad.
The board finds that with money
stringency and higher rates more pro-
nounced" bankers generally are slow
TO furnish financial facilities for e,
port shipments. Discussing the eau
tion bankers are exhibiting with re-
gard to export trade. the board said:
More conservative banking insti-
tutions engaged In export trade have
taken pains to cover their foreign ex-
change commitments as rapidly as
they are incurred. Even In the face
of the rather more stable conditions
OF exchange that prevailed during the
latter part of June and the first weeks
OF July, they were disinclined to carry
very large balances in foreign cur
TcnCy.
Banking institutions expressly de-
voting themselves to foreign trade
have found 1t difficult to continue the
extension of accommodation under as
favorable conditions as heretofore.
The sale OF their acceptances-a re-
source upon which they. have neces.
sarily relied in large part to carry
on their operations-has naturally
been hampered by high rates for
money. while they have found in some
cases the effort to offer foreign bal
ances as security, unsatisfactory to
local buyers of paper"
Reserve board officials declared
that such attempts as have been
made on small scale to place for
eign securities in the United States
have been successful only when a
very high rate of interest was offer
ed.
The Washington times., 1920-08-27
HIGHER LEVEL IN
MARKET TRADING
Railroad Group Is Again Chief
Feature in Moves on New
York Exchange.

NEW YORK. Aug. PA generally
higher level marked the early trad
ing in the market here today con-
tinuing yesterdays closing recovery.
The chief feature was found In the
railroad group though fractional ad-
vances were general in most all
issues.
Reading again came to the fore
selling close to 81 and Union Pacihc
crossed 100 for the first time during
the current movement Chesapeake
and Ohio was up nearly a point, Mis-
souri, Pacific sold up three quarters
Of a point to 26A
Motor shares were slightly lower
but stee!s, equipments, oils and to-
baccos showed firmer tendencies.
United States Steel gained y OF a
point at the opening quotation of
9O9s, Crucible advancing over half a
point, at 1884,, and Bethlehem Steel B
and Vanadium opening fractionally
higher. Pan American Petroleum
opened at SSA an advance of y of a
point, and Texas Company scoring a
gain Of u point, at AN.
The Washington times., 1920-08-27
EARLY CLOSING DISCUSSED.

The question of the . o'clock clos
ing for banks in the District was
again brought up in local banking
circles this afternoon, and before
very long the matter may be vitality
discussed.
The subject has been brought to the
local attention by the campaign be-
gun by Baltimore bankers today. to
make permanent their summer early
closing schedule which expires on
September 80
A majority of the Monumental City
bankers say the plan has worked ad-
mirably for both banks and their Gus
toners.
They also point out that patrons Of
the banks and members Of the busi-
ness exchanges have become so ac-
customeu to the early hours that they
have dropped into the habit of con-
Quoting their business within this
time. Therefore. they believe. most,
il not all, are willing to continue.
William Ingle, president of the Bal
timore Trust Company, and Henry B.
Wilcox, vice president of the Mer-
chants Mechanics First National
Bank, two Of the largest institutions
Of their class, are the leaders in the
early closing move.
The Washington times., 1920-08-27
FUEL CONDITIONS
VITAL TO Credit
Steadier Improvement Means
Release Of Money, Says Fed
erai Reserve Board.

Checking of speculation and the re-
striction OF operations In securities
and stocks In the financial eenters,
particularly New York. was an
nouneed today by the Federal Re
serve Board as IA decisive element"
in the present period of business and
credit transition.
Featuring the developments in the
changing Industrial situation, the Re-
serve Board cited as highly important
the tendency OF commercial rates to
go to slightly higher ngures, not~ith-
standing the maintenance of the same
rates OF discount at Federal Reserve
institutions. The unemployment In
some lines of Industrial activity. due
to Cancellation OF orders and poor
transportation OF fuel and materials.
Is not regarded as more than tempo
rsry. and officials stated resumption
OF activity in many lines inevitably
will follow improved transportation
and fuel conditions.
The board stated that IL certain
favorable factors now observed con-
tinue in evidence, II will mark a de-
parture from the period OF peak" In
fiation and a return to sounder con-
ditions.
The difficulty in both the indus
trial and credit situations" the board
finds. sis still found in the lack OF
transportation means which permit
regular and steady movement OF
goods to market and shipment OF fuel
and materials to points OF manufac-
ture and consumption"
Only slight Improvement in rail and
fuel conditions has been reported by
Federal \Reserve' agents. Fuel re-
serves at factories continue limited.
Officials said the fuel conditions bear
most vitality upon the credit outlook.
Large accumulations of goods at pro-
ducing and distributing points must
be carried largely by advances made
by banks. and officials see in stead
Ter Improvement in rail and fuel con-
ditions the release of much credit
which otherwise would be tied up TO
protect varied industrial interests.
The Washington times., 1920-08-27
II. 3. LOSING TRADE.

American trade with the Scandi-
navian countries Is practically at a
standstill. pending re-opcning of Rus
sian markets and a more favorable
exchange situation, Norman +. An
derson. trade commissioner at Copen-
hagen. today advised the Department
of Commerce.
After the srmistice. Mr.. Anderson
said, Norway, Sweden. and Denmark
loaded UP with American goods, ex.
pecting a resumption of trade with
Russia, but unsettled conditions in
that country have left the imports on
their hands, and they are. overstock ed.
The outlet to Germany also has been
cut off, he added, because OF the
failure OF many German firms to live
up to their contracts and the efforts
OF the German government to equal
ize the exchange rate, by a virtual
embargo on interchange OF goods
Great Britain, Mr.. Anderson re-
ported, Is rapidly taking the place
the United States occupied in trade
with Scandinavia during and lmme-
diatcly after the war.
The Washington times., 1920-08-27
NEW SAVINGS BANKS.

John Brosnsn, jr.. prominent in in
surance circles of the city, is at tie
head OF the organization committee
moving for the establishment Of the
Terminal Commercial and Savings
Bank, which, is to be located at the
corner of Twelfth and II streets
northwest, ana will have 100000
The bank will have 10000 shares
Of $40 each. which are being sold at
Sl2 to create a tAirplus of $4,000 at
the opening OF the institution.
Already Mr.. Brosnan and his as
sociates have had much success in
the work in hand. and II is expected
that within q short time the bank will
be able to begin business.
The Washington times., 1920-08-27
NEW SINCLAIR GUsHER.

The Sinclair Consolidated Oil Cor
poration announces that the well Of
the Sinclair-Mexican Company on lot
I14-Chinampa- Mexico. which is a
light oil district. has come in flowing
at the rate of go. 900 barrels daily.
The company states that the well
was drilled 1922 feet and the At
lantic Refining has connected with it.
The Atlantic Refining has also con-
tracted for approximately $4,000 bar
rels OF the oil daily for a period of
one wear. This is the first well to
come in for the Sinclair In, that dis
trict. The company has other drilling
operations under way.
The Washington times., 1920-08-27
HAB0MD AIR LINE
EXTENDS OLD NOTES

The Seabosrd Air Line railway
plans In the immediate future to
oner TO extend part OF it's S4.-
100000 OF o per cent notes. which
mature September is. 1920.
These notes are secured by s5.-
$4,000 par OF Sesbosrd Air Line
nrst and consolidated mortgage
bonds.
In extending part OF the 81
100000 the company Is expected
to offer a higher interest rate to
holders OF the old securities.
A substantial part OF the ma
turing issue will probably be
taken up by funds obtained by
the revolving fund provided in
the transportation act.
The Washington times., 1920-08-27
URGES LIQUIDATION OFF
ANCLO-FRENCH LOAN |

PARIS, Aug. 27.--Frederic
Francois -Marsal, finance minis
ter, referring in a published in
terview today to the effect upon
exchange OF present negotiations
to liauidate the Anglo-French
loan, said:
. $50 long as these operations
are not completed. and no mat
ten what Improvement occurs In
the commercial balance, the
financial balance, which has a
considerable influence on the
worlds markets, will not be ca
pable of restoring the eouilib-
dunn"
NJ. Francois-Marsal reiterated
his intentions to take up obliga-
tions to individuals when they
mature, but recalled that the
Hythe conference OF the allies
had decided to reserve action on
the debts OF one government to
another. t.H r..
The Washington times., 1920-08-27
FARM LOAN BANKS EARN
RECORD sum OF INTEREST

Earnings of the Federal Farm Loan
Banks reached $257,OOO during the
month of July, the largest in the
history of the banks, the Federal
Farm Loan Board announced today.
The statement of the hoard was
prompted by reports that litigation,
preventing the issuance of loans for
the present, had impaired the oper-
alton of the banks. Interest on pre-
vious loans fax the present earnings,
The hoard announced.
The Washington times., 1920-08-27
INCREASES CAPITAL.

Stockholders of the National City
Bank of New York. at a special meet
ing yesterday, voted to increase the
capital stock from $25 .OOO, 900 to S4O,-
900, 900, They also approved the pro.
posal to divide the capital stock into
4OO, 900 shares of 800 per value each.
The increase of 100000 shares in
the capital is to be offered for sub
scription to shareholders at S125 a
share. The premiums received above
par will be credited to surplus ac-
count and an additional sum of So
$50, 900 transferred from undivided
profits to surplus. thus bringing the
hanks surplus up to $4,000 900.
The Washington times., 1920-08-27
LOCAL STOCK EXCHANGE.

Much interest was again shown in
the preferred shares of the Washing
ton Railway and Electric Company
on the floor of the Washington Stock
Exchange today when IS sold before
call and a similar number afterward.
The first sale was made at Al while
the latter 25 sold at an advance OF u.
Three $1,000 As of the company
brought 55 after call.
Washington Gas stock sold at 42h,
type sold at 1913, a decline OF "a on
u the prices in the last sale OF yes
terday.
Capital Traction stock showed an
advance in the prices Of yesterday of
u, six shares selling at 85h.
Six shares OF Mergentheler Limo
type sold at 1913, a declined of n on
the price secured yesterday.
The Washington times., 1920-08-27
NEW YORK COTTON MARKET

NEW YC~~<, Aug. z7.-cotton open.
ing: October. 25.z5; December 2S.40
January, 1855; March. 25.46; May
s5,+5.
The cotton market opened firm TO
day at/an advance OF SO TO 81 poinu
on strong cables from Liverpool. for
eign buying, unfavorable weather ant
renewal OF heavy coverings. The
list held well after the start Busi'
ness was active during the nrst TWEEN
ty minutes with some Wall Street
firms selling. Moderate pressure alss
came from the South.
The Washington times., 1920-08-27
SUBSCRIPTION RIGHTS.
NOTES OF THE STREET.
FEDERAL RESERVE EARNINGS.

Total earnings of tn eFederal Re-
serve banks for the six months ended
June 30 last, were S1,7IS,352. com
rared with SAG. .s9O,577 for same period
OF 1919. Total current expenses for
the first six months of the present
year were $13,185,241, compared with
S9,O61 ,746 in 1919.
During the first six, months OF the
present year Federal Reserve banks,
assisting the Government in it's fiscal
operations, expended a total of $3,-
397, lab against $11,119,274 during the
same period last year.
Current net earnings of the banks
totaled $6S,5S3, Ill, or at a yearly rate
Of 1912 per cent on an average paid
in capital of sol ,165 900, compared
With o. per cent for same period of
1919 and $50 per cent in 1918.
The Washington times., 1920-08-27
NO BIG LETvIAN ORDER.

Samuel NJ. Vauclain, president,
Baldwin Locomotive Works, yester-
day stated in New York that he had
no knowledge of report that an
agreement between the Letvian Gov
crnment and an American company
for delivery of s25,OOO,O0O of railroad
locomotives you first have to And
II noticed an agreement had been
made covering $50 locomotives" Vau-
CLAIM said. Before you can buy $50
locomotives you first have ito find
out where you are going to get them.
I don't know where they can get $50
locomotives at the present time"
At the meeting of the directors of
Baldwin Locomotive Works yesterday
only routine business was transacted.
The Washington times., 1920-08-27
FRENCH ENVOY COMING.

Advices from New York announced
today that Jean Parmentier, French
financial envoy, in this country ar
ranging for the new loan and redemp-
tion Of Frances share of the $500, ,0O0,-
900 Anglo. French loan. which natures
October Is. is in the city. but as yet
he has not made his appearance at
the Treasury Department.
At the French embassy - was
stated that as vet nothing has been
heard from NJ Parmentier.
The Washington times., 1920-08-27
BALTIMORE GRAIN MARKET.

BALTIMORE, Aug. 27.-Wheat-
Firm; good demand; No. 2 red winter,
$2.77; No. 2 red winter garlicky. $2.67.
Receipts, 1891; shipments, 23S,967.
Corn-Firm: No. yellow or better,
domestic, $1.6O. Receipts. $3.50: ship
ments. 1890.
Oats-Steady; No. ) white old do
70. Receipts, 1886; shipments,
5,365.
Rye-Firmer; good demand; No. 2
Western export spot, S2.1s. Receipts,
40,272; shipments, 24,946.
Hay-Steady on better grades.
Flour-Unchanged.
The Washington times., 1920-08-27
FEDERAL LAND EARNINGS.

Earnings of the Federal Land Banks
established a new record in July, their
net return totaling s257. .203, approxi-
mately $4,000 more than in the pre-
vious record month-last February.
THE Increase in net income for
July" said Commissioner LobdelI, 'is
explained by the fact that while the
fixed gross income is the same--new
loans are being temporarily suspended
as result of pending litigstion--tbe
land banks have reduced their oper-
ating expenses through a reduction
in peoeonnel. Dividends will be paid
as usual"
Outstanding loans aggregate S344,-
$4,000 IL was announced.
The Washington times., 1920-08-27
TWO NATIONAL y
BANKS MAY Join
,Rumor Says Old Project Has
Been Revived-New Bank.
Other Notes.
NJ WILLIAM N. CONRAD.

Z" Rumors OF the proposed consolids-
tion OF two OF the older and more
prominent national banks of the city
were being discussed In local financial
circles today, but nothing from an
authoritative source could be learned
Officers OF the banks pointei out
that while some months ago the mat
ter of a consolidation had been pro-
posed, nothing had been done In the
matter, and to all intents and pur-
poses the original move was a dead
letter,
However. rumor has revived the re-
port, and some bankers are wonder
ing II the original move may go
tffroagh.
The Washington times., 1920-08-27
URGES DECREASED RATE.

Governor General Harrison cabled
from Manila urging withdrawal OF
instructions to the Philippine National
Bank to increase it's interest rate
from o to 12 per cent.
other Manila banks believe that the
per cent rate should be maintained
by the National Bank, as any increase
would be detrimental to their busi
ness.
The Washington times., 1920-08-27
MONEY MARKET.

NEW YORK, Aug. 27.-Call motley
Is renewing at per cent today, with
the time money market holding firm
and borrowers bidding 8 per cent.
The paper market is steady.
The Washington times., 1920-08-27
CHICAGO GRAIN MARKET.

CHICAGO, Aug. 27.-Wheat opened
X to 1c higher; corn was up u to Nc;
oats were a to &c higher; provisions
were generally steady. Opening:
Wheat - December, 2.3442.331s u /;
March. 2291a.
Corn-September, 1.43@143%; De-
cember, 119h @119k.
Oats-September, GIN; December.
66Z 066N; May, 6866SA
The Washington times., 1920-08-27
900. .ooo FOR ExCHANGE SEAT.

: The New York Stock Exchange seat
OF w. H. Sands, deceased, has been
sold to f. S. Newburger for 800. 900,
or $1,000 under the last preceding sale
reported. according to announcement
made yesterday. Kenneth w. Hume
has been elected a member Of the
exchange.
The Washington times., 1920-08-27
July COTTON EXPORTS.

Cotton exports from the United
states during July. 1920, were 211.-
SiI bales or'1O7,iii,322 pounls. valued
at SIi,151,S ,S27. tho Department OF
Commerce has announced. The cx-
ports during July. 1919. were 52s,oo2
bales.
The Washington times., 1920-08-27
LOCAL SECURITIES.
wa.Ai.st.. s,ssk ExsA..ss.
TODAY's SALES.

Washington Railway and Electric
preferred, 26U4T.
Washington Gas. 1Oq42h.
After call
. Washington Railway and Electric
preferred. 2og4Tla.
Washington Railway and Electric
As. 1.00Og65, 1.00OG55. 1,0O0Q5o.
Mergenthsler Linotype, 64l23.
Capital Traction, 6qsoh,
The Washington times., 1920-08-27
A N y F. l N A n G. E

EZRA GOULD. president Of (
the Washington Mechanics
Savings Bank and chairman Of
the street decorations and IL
Elimination committee for the
coming convention of the Am
eriean Bankers Association,
which arranged today at the
District Building for a large
amount of flag decoration
about the city during the gath
ering.
The Washington times., 1920-08-27
THE CURB MARKET

Quotations furnished by W. Il. Hibbs 4 Co.
Prices at noon:
The Washington times., 1920-08-27
OIL STOCKS.

Quotations furniahed by w. B. Hibhs Co.
Prices at noon:
The Washington times., 1920-08-27
FOREIGN BONDS.

Quotations furnished by w. B. Hibbs & Co.
Prices at noon:
Prices at noon:
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-12-19
GOVERNMENT REORGANIZATION
PLAN WILL TAKE MANY YEARS
tsy Harry .. Hunt,

WASHINGTON. Dec. u. ME
bodies move slowly. That is an axiom
OF science.
The United States government ia a
big body. That IL the boast OF every
individual connected with h ana every
patriotic citizen. Therefore
The public must not expect too
much IN the way Of an early overhaul
ms 81 government departments and
bureaus. promised BY the inconlng
administration Ia the interest both 81
efficiency and economy.
For instance Congressman c. r.
Reavis, who has bsfors. congress the
only proposal 70 date which would net
IN motion the machinery necessary FOR
reorganization. says e viii be al least
two years before any proper program
O reorganization can be formulated.
Duplication OF activities and ever
tapping functions OF departments and
even Of bureaus within departments
keaFis says, Is a source Of waste al
most incalculable. In my Judgment
= amounts 10 not less than $500, 0oo,
Yet enormous as tho waste i. and
- easy as II - 60 put one'H finger on
laalsieuai points q lost motion and
waste ehort' Il would only add 70 con-
fusion ana waste to undertake 70 cor.
rect tho situation piece meal Ii can
only be done properly after a com
prehenstNe study has been made ~
the whole governmental layout.
"on the basis Of such a study. and
on X alone. viii e be possible 10 work
Out q unified. systematic program Of
reorganization such as Is necessary II
fnh dollars worth Of government
service IL 20 be given for each dollar
wrung from the taxpayer
Reavis has introduced a resolution
calling FOR the appointment OF a spe-
cial reorganization commission. 10
consist of three members from tina
house and three from the senate -
conduct an Investigation into dupif-
cations and overlapping activities il
the present government orga nizatlon.
as the nrst ne esaary step toward pro-
viding a remedy.
appointment OF this REORGANIZATION
commission. Reavis hopes, viii be-
made at this short session. IN order
mat II may buckle down TO work irn-
mediafely.
II the Job Is 20 lie done thoroughly
and right as II should, the work az
investigation and OF drafting the lee
lslation necessary 20 atralghten out
present kinks viii require a long time
perhaps two years.
II II desirable. OF course. that II
Dc Gone quickly, but Il IL more impro.
tant that Il il done right"
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-12-19
EXTRA TROUSERS
FOIL ROBBERS

PATERSON. ~. y. Dec. Is--Louis
Lenner today accidentally discovered
an antidote Tor New Jerseys crime
wave. Put On two pairs of trousers -
is his formula.
A chill wind was blowing this
morning when Lenrer had 10 rush
from his home 20 summon a doctor
for his sick wife.
Two pairs Of trousers viii not
come amias." said Lsnner TO himself
In front 81 the public library two OF
the states many highwaymen urged
him with revolvers drawn 20 throw up
his hands.
search me" cried Lenner. cont
dent ia the security o. his double-b bar
relied trousers
The robbers left him. provoked after
finding nothing ~ his outside trouser
They looked no further for-well. two
pairs are a bit unusual Carrying
fat bank roll in his timers" Lsnner
stopped. incidentally. az the police
station en- route 20 the doctors.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-12-19
RUMELY GUILTY
ON TWO COUNTS
Former Publisher 81 Evening Mail
Liable 20 Fine ard Imprisonment.

NEW YORK. Dec fS-Dr Edward
A. Rumely. former Publisher 81 the
New York Evening Nal. and s. wal
ter Kaufman and Norvil Lindheira.
HIS co defendants. were acquitted BIZ
a jury here today on three counts or
an indictment charging conspiracy 70
withhold from the government knowi-
edge Of the alleged German ownership
Of the paper. and found guilty on two
counts.
The finding Of not guilty was on
counts alleging that the German gov
ernment owned actual shares Of the
newspapers stock while the verdict
~ guilty was on thai part Of the in-
dictment which alleged the defendants
had borrowed money from German
sources with which 20 conduct tho
paper.
The jury made strong recommen-
dalton ~ mercy for the defendants
whose bail was continued. The court
adjourned until next Monday when
they viii be sentenced.
The maximum penalty for violation
81 section 81 81 the United States
criminal code, with which the de-
PENDANTS were charged. = two years
imprisonment. a me Of $40 GOO. or
both
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-12-19
NEW ORLEANS QUOTES
LOWER COTTON PRICES

NEW ORLEANS. Dec. I7.--Lower
prices prevailed in cotton today nell-
Ing making its appearance in mod
Grated volume on the opening and be-
ing felt 10 some extent throughout
the session. The close was practically
% the lowest, az net losses Of "a 10 20
points with January az l4.6s and july
az 1895. Selling - the early hours
was caused mainly by the ginning ea-
innate from - private bureau OF 10. =
$4,000 bales produced 10 Dec. IL
against 9.s9C .e46 70 the same date last
year and io.2si.I5a two years awo.
This meant ginning for the last period
which was the seventh OF the ginning
session. or $1,000 bales against ss2 O00
for the same period last year and no.
COG two years ago. such a showing
was considered altogether In keeping
with the governments estimate Of the
crop this week Of 1887 900 bales
Floor comment was that ginning for
The period was rather heavier than ex-
pected.