davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-02-15
Money and Credit

Completion of series of heavy
government Withdrawals and liquida-
ton of securities on the Stock Ex-
change resulted in easier call money
last week. Although the opening rates
Oh Monday and Tuesday were respect
lively IA and 10 per cent on the remain
ing business days brokers reported
little difficulty in obtaining loans at 6
per cent.
1t could not be said, however, that
there was any real ease in the loan
market for purposes of speculation, as
the banks held to their policy of main
tanning stiff rates on time money and
bids of as high as 10 per cent for loans
running up to ninety days were not
successful in bringing out offerings Of
any substantial volume. There was
also a disposition on the part of the
banks not to renew maturing time
loans.
A Wall Street estimate during the
week placed brokers' loans now out
standing at approximately 0O,0O0.-
600. This was said to be the lowest
total for several months and was ac-
counted for by the recent liquidation
of many Stock Exchange accounts held
on margin.
Bank Clearings-Bank clearings in
New York yesterday were:
Exchanges. Balances.
New York ....S938,61 1896 $57,O57,376
Baltimore 49,. 1851 ,70l 5,OS9, 1886
Boston ...... 54,972,3 $40 II. .491 ,461
Philadelphia =. 9O,154,O68 26.6O7 ,108
ub-Treasury-United States Federal
Reserve credit balance, $40, ,154, ,208.
Silver-London, S4%d; New York,
s1.32; Mexican dollars, s1.011a.
New-York tribune., 1920-02-15
Indiana Pipe Line Net
Equal to SlO.73 a Share

For the year ended December 81.
1919, the Indiana Pipe Line Company
reports net income of s1.O73,684
equivalent to sl0.73 share, $50 par
earned on the s5,OOO,000 capital stock
compared with $1,146,233, or $11.46 a
share, IN the preceding year. Holders
OF the stock shared Sl,O00,OO0 in divi
aends, leaving a $73,684 surplus, a TALL
ing on OF Sl9,649 from 1918. Previous
paiahce OF 1887 ,462 was added to that
amount, bringing the profit and lose loss
surplus to $2,9O1,146. S''
New-York tribune., 1920-02-15
Southern Pipe Line Reports
Deficit After 1910 Dividends

t,rno 0outnern Pipe Line Company re-
surteo eo,;s profits of s1,6S5,e95 in 1919.
earned edient en- to $1s.s5 a share, 500 par
compared co with s2,o6s,oa7. or s2oss a. a.
s,,s;s, sh,are, In the preceding year. After
II.vioend payments of $1,000 500 had
ts;a pesn paid deficit was $314,0o4 When
unls loss had been deducted from The
prS prSVious , surplus Of $2,594,se3, profit
""o loss balance vaa s2.22l.62a.
New-York tribune., 1920-02-15
Paris Prices Steady

PARIS, Feb. 14.-Prices were steady
on the bourse to-day. Three per cent
rentes brought 81 francs 65 centimes
Exchange on London was quoted at 4s
francs AZ centimes. Five per cent
loans sold at 81 francs 65 centimes.
me dollar was quoted at ii francs II
centimes.
New-York tribune., 1920-02-15
London Money Market

LONDON, Feb. 14.-Bar gold, 121s Cd.
Money, AZ per cent. Discount rates,
shore and three months bills, 5% "a
i3-l0 per cent Gold premiums at
Lisbon, 1000.
New-York tribune., 1920-02-15

OF philadelphia. The bonds are directly se-
cured by closed first mortgage on ths n,an+
Of the company. PAM
The Guaranty Trust Company has been
appointed transfer agent Of the capital stock
CT the Prime Oil and Refining Company.
New-York tribune., 1920-02-15
This Weeks Program

A number of interesting develop
ments, routine and otherwise, are down
on the books for the new week. To-
morrow the Crucible Steel stockholders
arc scheduled to vote on the capital m
crease, the quarterly earning state
monts of the Chino and the Utah Cop
per companies are to be issued, and the
onnual meetings Of the Mackay Com
panies, the Caddo Central Oil Con-
paNy and Superior Steel are scheduled
On Tuesday the annual meeting of
stockholders Of the National Enamel
ing and Stamping Company will be
helG. On Wednesday are scheduled
the annual meetings Of the Pressed
Steel Car Company and the American
Sumatra Tobacco Company, also di-
rectors' meetings Of the American
Writing Paper, Reading and Pacific
Mail. The annual meeting Of the Cen
eral Chemical Company will be held
Thursday
New-York tribune., 1920-02-15

Almost two-thirds Of the subscriptions
necessary to assure tho publication OF tbs
proposed new cable code for the hide and
@ a1a.ner INDUSTRY have been obtained. 1t was
announced yesterday. The publication cf
the volume will mark the first issuance Of
4 cable code In forty yesrA
New-York tribune., 1920-02-15
Selling N MystarY

During tho hectic days Of tho spscu-
lative boom In stocks last year, any
issue that had anything that savored
OF mystery had q market asset that
was worth real money to pool manipu-
lators. This was especially true on the
Curb where several stocks were doomed
to dizzy heights because of "hidden"
assets. For example, an oil company,
whose stock had great run on the
outside market, dug we'll on its prop
erty, put up bsrbed-wire fence
around it and stationed guards round
about to keep outsiders from knowing
what was going on. All sorts of stories
about the wonderful we'll spread and,
helped to furnish a mystery on which
to bull stock. But the smash Of the
past fortnight has knocked the mystery
out of a lot Of these stocks. Such
issues IS General Asphalt, Carib Syn
dicate, Colombia Emerald and Houston
Oh have come down in hurry. Gen
eral Asphalt, pushed from 301s to 1872
last year, dropped to 78 last week.
Houston OIL moved from rs to 167
during the year, slumped to 49, Carib
Syndicate, quoted on basis of SIS 900
share at its recent peak, was down to a
basis Of less than $500 a share last
week. Colombia Emerald, which sold
at the equivalent of s2,100 a share at
one time last week, touched $500
share. The losses sustained by the
public in the fall in these issues alone
must have reached huge figures.
New-York tribune., 1920-02-15
Things Worth Ponderinp

Business men and investors should
not be deceived by the large untitled
orders in almost every branch of trade,
for. as is pointed out by Wrenn Bros.
& Co., this is a characteristic of prac-
tically all periods of dangerous infla-
ton Every speculative business VEN
ture." says the firm in its weekly mar
ket letter, however unsound it may
be, requires a certain amount of offic
or factory space. and q stock of goods
or materials; and this speculative buy
ing of space and supplies is the very
factor that makes money tight. Huge
untitled orders are therefore sometimes
an evidence of genuine prosperity, and
sometimes a symptom of dangerous in
flation. just shortly before the panic
of 1907 the untitled orders Of the
United States Steel Corporation in
creased rs per cent in eighteen months.
Just before the panic of 1873 untitled
iron orders were SO great that pig iron
rose from $37 a ton to $5275. in spite
of continuous new high records in the
production of the United States and the
world. Vast untitled orders in many
lines of goods were the rule in Great
Britain prior to the collapse Of 1866
and here prior to those Of 1857 and
1884. Thus it cannot be contended
that the unsatisfied demand for goods
and products is any guaranty of unin-
terrupted prosperity"
Omaha daily bee., 1920-01-25

ties of aerial navigation is one of
the disconcerting facts of the situa-
ton. There are, it is true, men OF
vision and foresight who see the
wonderful possibilities of the airship,
both of the heavier -than-air type and
the dirigible, but the rank and file
are still Indifferent.
Not so, however, Great Britain.
With true British thoroughness the
great merchants and transportation
magnates of the tight little isle" are
alive to the situation and are bend
ing their tremendous energies to the
accomplishment of their purpose and
unless the merchants and carriers OF
the United States wake up Great
Britain will have so thoroughly in
trenched itself in world commerce,
by the use of airships as an auxil-
iary to its great merchant fleet, that
the rich commercial fields OF the
world will be in British hands, won
and held by its swift and splendid
transportation facilities. In both
freight and passenger service it will
thus have far outstripped us in the
race and won for itself an impreg-
nable position in the great world
markets.
Those who have studied the his
tory of Americas merchant marine
are familiar with the spectacular and
glorious career of Yankee clipper
ships. How in the, olden days they
sailed the Seven Seas and fetched
and carried the commerce of the
world from all far places of the
earth. But alas, it was in their very
glory that the seeds of decline were
Omaha daily bee., 1920-01-25
Britain. Radang Steamship Ar.hips Inland Delivery

nourished. Strongly intrenched, this
feet of graceful deep-sea carriers
felt so secure that they scorned to
heed the warnings OF the prophets
OF their day and as result their
sturdy shippers saw the British
steel-constructed, steam-propelled
freighters slowly, but surely, super
sede them in the carrying trade of
the world.
'Su!prIL 10 s1oauo!d
If the open seas were destined to
be the theater of action on which
the world battle for the carrying
trade was to be fought the United
States might we'll have no fears as
to her ability to hold her own, for
the rapid expansion of Our merchant
marine, brought into being almost
over night under the desperate spur
of wars grim necessities, is one OF
the marvels of modern engineering
and constructive genius.
The shrewd Britisher was not
slow to take stock of the miracles
worked by Americas mighty cap
tains of production. 1t saw that
its long undisputed supremacy on
the seas was threatened and that
unless some new method of trans
portation was taken advantage Of
it would be unable to hold the para
mount commercial position which It
has so long held.
The largest factor in Great
Britain's commercial success both as
manufacturing nation and carrier
OF merchandise is in the fact that it
| Continued ON Page Two, This sectiou.)
Omaha daily bee., 1920-01-25

ing unrighteously to obtain them,
whether in his heart there is such
purpose that If he succeeded in OBJ
tanning them he will use them justly
and in obedience to the law of love. /,
Let every man ask himself, since
every man now is responsible for
the rules of the common life,
whether his voice and vote is always
given in such wise that the wealth Of
the world shall be administered in
obedience o@these' great laws. What
profits it to know God if the god
we know is not the God who exerA
cises Himself in these things. Or
how can we say that we know Him
who SO cxerciseth Himself, unless
we put ourselves at His disposal that
He. through us may exercise His
righteousness, justice and love?
Likewise in the matter of disease
which comes from the abuse. of
power, let a man ask himself
whether the power that has come to
him because of the talents that were
in him, because of the opportunity
Of education that has been his, or OF
the position and influence that are
his-whether these are being exer-
cised by him in such way that the
God whom he claims to know has
His chance with this power loaned
to him for little. Is he glorying
in the power or is his glory in the
will OF the God9who has given him
the power? To none Of US comes
the temptation of the, abuse OF power
which comes to privileged classes in
old world monarchies of the type of
former times, but to every one Of us
comes the temptation for similar
abuse OF power in democracy
where every man has the vote in his
hand, where every man has his voice
in the shaping of that public opinion
which is ornipotent. Are we exer-
cising this power by letting God ex-
ercise Himself in US? We know
right we'll that if so. the effect of our
vote in politics and the effect of our,
voice in public opinion will be for
the realization in the common life
of righteousness, Justice and love,
| for it is in these that He exerciseth
Himself in the earth. j
Again in like maner il we have
wisdom, ii knowledge is ours. are
we using that knowledge, exercising
t'that wisdom in such wise that Gods
righteousness and justice and love
can be realized in the world through
us? II so we are immune from the
disease OF class conscious pride. Of
ihe naughty, scoffing. cynical spirit.
the exclusive. selfish attitude that
Swould seal up our own souls with
its icy chill and embitter the lives
| Of those with whom we have our re-
| lationss in the common life.
l give to you the warning of the
old prophet. Let not the rich man
glory in his riches. Let not the
mighty man glory in his might. Let
not the wise man glory in his VIE
dom. I give to you the exhortation
OF the ancient prophet as 2 worthy
word Of warning and OF hope for our
time. Let him that glorieth glory
in this that he, knoweth, God. Let
him be sure,that the God whom he
knows is the God who exerciseth
righteousness, justice and love in the
earth and let him be sure that he
does not krow that God unless he
submits what he has and what he is
to that God in order that He may
exercise justice, righteousness and
'love through him
Omaha daily bee., 1920-01-25

1000 miles up the Amazon. While
bulky merchandise can go most of
the way by boat, the trip consumes
many days. The same is true Of
Mendoza, San Rafael and San Juan.
The long, slow trip over rudely con
structeds trails across myriad in
land lakes in fat bottomed boats or
down roaring torrents, through boil
ing rapids, often hls the effect OF
rendering the merchandise so car
ried unstable when it finally reaches
its destination.
These difficulties will be effectual-
ly overcome by the use of air craft.
The airplancs will solve the prob
lem of carrying the lighter express
packages ard mails while the dirig-
ibles or Zeppclins, whichever type
is finally adopted, will be employed
in transporting freight in quantities
up to 100 tons. Ships OF larger car
rying capacity may be expected as
soon as the business warrants their
construction.
In Position to Compete.
The United States has the ad-
vantage in this game of serial
transportation if the start already
made is only vigorously followed UP.
The production of helium gas, which
has 81 per cent of the lifting power
of hydrogen gas. has now been so
far perfected that it can be pro-
duced in commercial quantities at
cost that renders its suse in air-
ships i'll the freight and passenger
trade practicable.
With this gas, the danger of ex-
plosion or fire from the engine
or heat OF the suns rays is entirely
eliminated and the time an airship
can stay in the air, the speed it can
make and the load it can carry are
all mere engineering details. The
genius for accomplishing wonders
under the spur of wars necessities
that America displayed was such as
to warrant the assumption that we
can compete with the world in aerial
transportation if only we will wake
up to the situation that confronts
! us.
Great Britain saw the coming of
the airship as a factor in the future
of transportation and its merchants
Omaha daily bee., 1920-01-25
Typical Commercial Airship.

aircraft is the small original invest
ment required. To build roads suit
able for motor trucks and busses
over these mountains would cost
millions. If railroads were con-
structed the expenditure would call
for an outlay of billions over the
long reaches of country to be COW
cred. But the airship will require
no such expenditure. The total cost
for the construction and equipment
of big dirigiblc capable of carrying
100 tons and of moving through the
air at from IS to 100 miles per hour
will not exceed $7s0,000 in any one
case. With helium gas, which elm
mates the danger of fire and explo-
sion. the airship becomes as safe a
means of transportation as the mo-
tor car or the railway train and
there is no roadbed to be kept UP,
no rights of way to be secured. no
long construction waits, no caving
in OF tunnels or washing away of
bridges. The air lanes are practically
always lnavigable and the expense of
upkeep, ton for ton of carrying
capacity, is as low as any other
form of transportation that, is
adapted to these difficult regions.
With these facts laid plainly be-
fore us, we readily see how natural
is the resort to air transports to
convey swiftly and easily that ever
Increasing bulk of commerce des-
tined for distant points, over noun
tains or other stretches of land that
make transportation in the usual
way difficult or impossible. Air nav
igation solves the problem. There
are no factors that make it either
extra hazardous or difficult for a
line of dirigibles to ply back and
forth from port to inland trade CEN
ters. The air lanes are open; the
airship has been perfected SO as to
make its use both safe and practic-
able; it only remains for enterprise
and energy to make use of it.
The British have been quick to see
the advantages Of aerial navigation
as a commercial asset and have
Omaha daily bee., 1920-01-25

gone to work to make it part of
their system of transportation.
Companies Being Organized.
The First British Industrial Aerial
Navigation company has been Or
ganized to operate dirigibles and
load-carrying airplanes. This COM
pany is now planning on carrying
passengers from London to New
York at $3.50 per head. The big
dirigibles that will enter this service
will have all the comforts and con-
veniences now to be found on the
most modern of ocean liners. These
ships OF the air will carry up to 100
passengers and from 50 to 90 tons
of freight and are said to have a
speed of l0C miles per hour and to
be navigable at attitudes away above
the widest storm that sweeps over
the Atlantic reaches. While just at
present it is the passenger air serv-
ice that is in the limelight, freight
carriers are even more important.
All over Great Britain the govern
ment is preparing to erect guide
posts and aerial lighthouses to en-
able the mariners of the air to fol-
low their chosen routes with the
same degree of precision as the navi-
gators of the sea. In a short time
there will be added to England's S
coastwise lights, which Kipling has
immortalized in song, the "Air Line
Lights of England"
Most Disconcerting Fact.
That the United States is not TAX
ing the vigorous measures to de-
velop to their fullest the possibili-
Omaha daily bee., 1920-01-25

Is Great Britain planning an air
laid on the commerce of the world,
and more especially on that OF
South America? This is question
that may we'll attract the attention
of Americans in this time OF read
justment in the worlds affairs. Ask
the average business man the ques-
ton and he will look wise and say
there's nothing to it--that what we
need to do is to keep righ. on build
ing ships SO. that we may have the
largest and best merchant marine in
the world. That will enable us to
control our full share of the worlds
commerce as well as of the carry
ing trade. Airships may become use
full auxiliaries in carrying fast mail
and even a limited express service,
but that is all.
This sounds reasonable and con-
servative, but investigation quickly
proves it to be an untenable posi-
ton, resting on outworn conditions,
and overlooking the most startling
new movement in commerce since
the introduction OF the steamship.
What are the facts? Great Britain
has gene to work quietly and with
characteristic thoroughness and or
ganized governmental agencies for
the regulation of air traffic. 1t is en-
couraging its merchants and trans
portatit n magnates to establish air
lines to the farthest corners of its
world-encircling empire and has ar
ranged to charter private stock COM
panies to conduct the business. All
this preparation presages nothing
less than an air raid on the COM
1nerce OF the world. This raid will
be made in the open, for the Brit
ishcr is above all square dealer
and withal good sport. He will pit
his brains, money and effort against
the world in fair stand-up, give
and-take contest and will applaud
his opponent if he proves worthy of
his steel, in whatever field the con-
test is waged, be it commerce, sport
or war.
Arrangements Now Made.
Arrangements have been made
with many of the South American
countries for aircraft stations, both
airplanes and dirigibles. These ships
of the air are to act as feeders for
the ships of the sea. Merchandise
will be brought to the port and in
stead of lying around on the wharves
or on lighters in the open roadsteds,
which is all that many of the South
American ports are, it will be
Omaha daily bee., 1920-01-25

them exercise themselves upon
wealth.
Now disease may be the excessive
and therefore abnormal exercise of
a normal function Of the body, as
we'll as the lack of or a deficiency in
the exercise of a normal function of
the body. So mental and moral dis
ease may be the excessive exercise
of a normal instinct of life, and it
appears that wealth tends to develop
in men the abnormal exercise of the
instincts of self-preservation and of
self-propagation as related to mate
rial possessions. Such abnormal ex-
ercise of these instincts is a mental
and moral disease. 1t was prevalent
in the time of Jeremiah. Men sought
wealth not in a normal, sane, healthy
fashion, but in an abnormal, insane,
unhealthy fashion, with an intensity
and passion wholly beyond that
which the normal life should exer-
else in relation to material things.
The result of this was two-fold. One
of these results is the result named
by the prophet. The rich man
gloried in his riches. All men spent
labor, energy and desire for wealth.
The few who succeeded in gaining it
gloried in their gain. They became
proud. naughty, dominating and
cruel. Their use OF their wealth be-
came ostentatious, spectacular, luxu-
rious. The other result is not here
named by the prophet, but it must
have existed because it always exists
as the diverse of pride and power in
wealth. 1t is the bitterness and false
shame, the fauning subsection of
those who, desiring wealth and
pouring out their energy, their labor,
their desire toward it, fail to secure
it. The cry OF the poor was bitter
cry. The spirit of the poor was a
rebellious spirit, or on the other
hand it was a parasitic, weakened
spirit that leaned upon those who
had been successful in their quest
for wealth.
These were the two characteristic
results of that popular tendency
tlldI RlOIlCu lll tlSHCS, llldl SOuSHe
after wealth and poured out desire
and labor and energy to get it. These
results always follow from the abb
normal, insane and unhealthy EN-.
phasis upon getting material pos
sessions, holding material posses.
sions and using material pos
sions. 1t was distinct human dis
ease $500 years ago. 1t is a distinc.
human disease now. 1t manifests
itself in the same way, it issues in
the same two-fold result. II, is the
excessive exercise of a normal in.
stinct which in its normal, sane ex-
ercise produces health; which in its
abnormal, insane exercise produce:
disease. 1t is manifest not only in
those who have but also in those
who have not. In those who have il
is manifest sometimes in the pride
with which they hold their posses.
sions, sometimes in the fear with
which they hold their possessions
sometimes in the ostentation an6
luxury with which they Use thei,