davidaulloa/AmericanStories huggingface dataset:
The evening world., 1920-05-21

George Hodges q the Americas
Railroad Association saidi 1T win
enable manufacturers to vastly In
crease production and this VIII end
shortages Of commodities In many
localities"
The Federal Reserve Board believes
speculatorS have borrowed large SUNS
at high interest rates to buy COM
modities and stocks and hold them for
higher DriceG The public has paid
this.
The Reserve Board has determInad
that this Dort Of borrowing must stop
and long standing loans must be paid.
Funds for pure speculation win be
denied. Borrowings for dealings In
luxuries and nom essentials win be
halted. Long standing loans viii be
called in.
onfciais here differed to-day as 10
whether or not the board would be
able to carry through It's programmes
of denation.
The three orders issued by the In.
terstate Commerce Commission were
as follows:
That the railroads shall route an
shipments by the most available ard
least oongested lines, regardless of
the individual preferences Of shippers.
That the Western railroads supply
TO the Eastern roads within twenty
days a total Of $500 empty opsn-top
cars, the purpose being to pUvIdO
equipment for the movement OF coal
from the Eastern mines.
That the Eastern roads supply % the
Western roads within thirty DAYS
1880 empty box cars, the underlying
purpose being to provide equipment
for the movement OF grains 70 the
East.
The orders mark the flrst definite
move on the part OF the Interstate
Commerce Commission TO END the
dangerous congestion at freight ter
minals and TO relieve the acute
shortage OF empty cars at points
whore they are urgently needed to
prevent a slowing down II not COM
plete stoppage OF hundreds Of large
industries.
II u understood that m the matter
OF controlling the movement OF load
cd and empty freight and coal oars
the powers of the Interstate Com
merce Commission will be vested IN
the Car Service Commission OF the
American Railway Association 70 he
extent necessary to bring the qulck-
est and greatest amount Of Allevia-
ton to the present condition.
In the re-routeing OF cars care "a
be taken by the carriers TO avoid 80
terminals with large shlpmenta q
through freight and by that d u
hoped the congestion at the distribut-
ing points win be relieved,
The act provides q penalty of not
less than 800 nor moro than $500 for
eaeh Oasnse and $50 Ar each AID
The evening world., 1920-05-21
BANK MESSENGER HELD.UP.
SAVES PAYROLL IN BATTLE;
BANDITS ESCAPE IN TAXICAE
CARDINAL GIBBONS
URGES WOMEN TO
ESCHEW POLITICS
BALTIMORE. May q.

GEX you are the queens or tne
domestic kingdom. DO
not stain your garments
with the soil Of the political arena
No man OF woman can rule veil
over two kingdoms" Cardinal
Gibbons told delegates to the
Catholic Women's Benevolent Le-
gion In session here. warning
women against being active In
politics.
You rule the home, the hus-
band and the children, and should
not attempt to dabble In politics.
IF you try to rule over two
kingdoms you will surely lose
both Of them. II you leave the
home, II you divide your time be-
tween domestic affairs and polit-
ical affairs, you will become the
less perfect in your own sphere"
The evening world., 1920-05-21
MAYOR DEFIES CITY STRIKE
Providence Rejects Employer De-
mAnd for Higher Pay.

PROVIDENCE. r. l., May 2l.-
Mayor Joseph II. Gainer has served
notice on the Municipal Employees
Union that It's demands for twenty
five per cent. increase, an eiEht-hour
day and other changes would not be
granted by the city.
The Mayors action followed receipt
by him Of letter from the union EN-
bodying the demands and declaring
that the men would strike next Mon
day II they were not granted
special meeting OF the union win be
held to-day.
The evening world., 1920-05-21
Women Members OF Council May
smoke.

EToN. Eng May 21.--Women mem.
bers OF the Rural District Council. Il
is announced. are to be permitted 70
smoke TO keep them In good humor.
to expedite business and as an antldot1
% ! badly VsnhlAted room"
The evening world., 1920-05-21
LIBERTY BOND RALLY
BOOSTS ALL STOCKS
Second 4 i-4s Lead with Recovery
of $50 Points.

Liberty bonds to-day showed rally
ing tendency for the FIRST time since
recent liquidation broke the market In
the Governments war obligations. Sec
ond las. which touched the lowest
price OF any OF the Issues. led the rally
with a recovery Of $50 points. while
Fourth 1-4s advanced 236.
The cry OF Wall Street houses cali
Ing attention 10 the attractive Yields
offered by war loan investments At
current levels apparently had checked
the fall OF these bonds.
The sharp rally Of Liberty bonds had
favorable effect on the entire stock
List Steel common. after an early low
at Of. got above 80. while other steels
rallied from 2 10 ( points.
The buying Of oils was a feature.
Pan-American, which had sold az low
as 81 on Wednesday. jumped TO o..
Motors we're not In such great demand
Rumors that the Government intends
to reaSsume regulation Of the sugar
market precipHated extensive selling
OF sugar shares at midday. losses eX-
tended from 1-2 10 l-2 points.
The evening world., 1920-05-21
Provision Prices Tumble In Chicago

CHICAGO. May 2l.--,Prices came rotu
helter- skelter to-day ON the Board OF
Trade. All grain and provisions Joined
In the tumble.
Corn and pork underwent extreme
breaks. respectively 3-s cents a bushel
and S2,O5 barrel, July delivery OF corn
touching as low as tl,6I LIS and July
pork f347b
The evening world., 1920-05-21
SsS MEN's SUIT OR TOPCoAr, aat o.

The hub" Clothing Corner BroAdway. corner
Barclay StTet topp. WOolworth BuildinEl. will
.en to-day and SATURDAY 1000 rDen's and young
man's surinE Suits and TOpcoAH In blues. hr3ana.
Eroals ErayI and fanny mixtures; single o. toulas.
breasted iogm- htttnG military sge slaah or pAteh
porksts ven latest Iaodra. al sises Our ipeclal
ph0s kg to-day aud Saturday. s2i.OS. Othsrs al
tS2.5o. Opon saturday nisht tm 10. nUn
oLoTHA9lB. Bl'aasas. -. HaEzlas sl-sAasL
The evening world., 1920-05-21

THE WORLD TRAVEL BUREAU.
Nov, n. Y. Ciy. TsleQhono Bssh1nAn tOoa
Obeck room ioi bAgsaao and paro?lA open d.y 80
night. MonS oraou and GaEsnGiB' sasoa -
The evening world., 1920-05-21
OF ONE-QUARTER
IN PRICES EXPECTED FROM
ACTION BY RESERVE BOARD

Large Sums Borrowed by Specula-
tors to Carry Commodities Are
to Be Called In-Commerce Com
mission Distributes Freight Cars.
The evening world., 1920-05-21

0ss, 81 RsI.ss SsI,,s... 4. ws'sr' surs Relief
The evening world., 1920-05-21

WHAT Is SURE RELIEF-WHY IT'S
Bel. ans tor indiEestion.-Ad
The evening world., 1920-05-21

CONTINUED on Second Pase)
The Washington herald., 1920-03-15
BANK clEARNcs.

Payments through the banks. ~
reflected In bank clsarinss, are n1ain-
tanned In the heaviest volume ever
recorded for this period. in spite Of
tendency toward contraction at a
few points. Total clearings last
week at twenty. leading cities In the
United States amount TO s7.5as,-
457.355. or 2s.s and 4s.s per cent re-
spectiytiy. more than for the same
weeks in 1919 and 1918. To the
weeks aggregate. New York City
contributes si.51o.s2s.e7I and the
cities outside the metropolis ss.o15.-
s27.sSL representing gains OF z7.o
and 40 per cent at the leading
center. and Of se.s and 41.s per cent
at all points exclusive of New York.
as compared with the correspond
ing weeks In the two Immediately
preceding years. Louisville remains
the only city that reports any i'm
portant decline from last year or
the year before. while at a number
OF centers the Increases over all
former periods continue abnormally
large.
Average daily bank clearings for
the year to date are given below
for three years:
The Washington herald., 1920-03-15
LOOKS AS THOUGH
DAN REID IS ACTIVE

American Can common has made
so many false-starts in recent years
that it can hardly be called popular
with the speculative element. In
the last few days, however, there
has been evidence of a fairly active
demand for the stock. apparently
based upon the fact that recent re-
ports as to the demands upon the
company for larger tax payments
for 1918 have been exaggerated. 1t
is even stated in some quarters that
II may never be necessary for the
company to apply to tax payments
the contingent reserves set up in the
report for 1919. This item. carried
as contingent funds" in the bal
ance sheet on the liability side
amounted to ss,7ss.o1s, compared
with S6,S42,107 in 1918, and $4,237,-
543 in 1917.
1t is pointed out that if the same
figure had been taken last year for
the contingent fund as In 1918 the
would have shown earn ,
ings of more than SO a share in
stead of the $3.50 reported.
The Washington herald., 1920-03-15
SAXON MOTORS.

According to the gossip of the
Street a strong pool has been or
sanized in Saxon Motors common
with a view to exploiting Its specu-
istive possibilities on the bull side.
On the February break saxon drop
ped to f3N. The company before 1t
encountered financial din1culties two
or three years ago was faiely pros
porous. Last November the com.
pany was reorganized on a basis
which started its new corporate ex-
istenee with cash of s1.22s.o3s, ac-
counts receivable tes5,ssf and inyen-
toriesrof ssss.sts. Against this was
tsa4o5 Tor accounts payable. leav-
ing q net working capital of s2.-
23o.sas.,
Enorts of the management are
being directed, II is stated. toward
Strengthening the company's trade
position among motor car manufac-
turers. There Is ti.2so.ooo s per cent
cumulative preferred stock and $780,
geo shares OF no par value outstand-
ing. with 200 shares in the treasury.
The Washington herald., 1920-03-15
BANKS REDUCE
U. s. WAR PAPER
Contraction Of Liberty and
Other War Issues
Manifest.
OTHER BOND YIELDS
-.
Some Attractive Issues in
Utility Group Selling Far
Below Worth.

United States war paper. that is
Liberty bonds Victory notes and
Certificates OF Indebtedness. is
gradually being Withdrawn from
This is manifest from reports
sent In each week by the principal
member banks throughout the
country to the Federal Reserve
Board and discount figures issued
by the Federal Reserve Banks.
Loans secured by United States
war paper reported by about 500
member banks amounted to sS76,-
$4,000 for the week ended Febru-
ary "a. reduction Of $42,e0O, 900
from the week before and eompar-
ing with over $i.3oe. goo. 600 shown
last summer when these loan re-
ports were FIRST compiled By the
Reserve Board.
In other words, reduction of
nearly $500, 100000 has taken place.
Discounts reported by the COM
bined Federal Reserve Banks Sc
cured by war paper amounted last
week TO $1.s2o,fs4. or reduction of
$52,5oo. 900 from the previous week,
and comparing with figures in ex-
cess of s1.7oo. 600, ooe late last No
rember, or q reduction in the mean
time Of about $2oo, 600.
In the New York district the
present war paper discounts have
shown a reduction Of close to $780,
Ooe.eo0 in a week
Miseei1aneeus Bend Market,
During the war period earnings
OF all public utility companies were
affected as result OF high cost
of material and labor and laws re-
stricting increases in rates and
fares.
Hence bonds OF such companies
which continued to pay interest dur
ing this adversity are reasonably
assured Of paying interest during
their life and principal in full at
maturity.
While utility bonds have, on an
average. had the largest decline Of
any class of corporation issues,
many of them are selling at prices
that do not truly reflect their in
vestment strength.
There are many issues now selling
at prices to yield from Z to IL per
cent.
Lowering of commodity prices US
uaily has q good effect on public
utility bonds. and periods Of busi-
ness depression do not affect earn
ings as in other industries.
Although general business NAV
tall off. people are still obliged 10
use light. heat and water, as wen as
travel on street cars.
Trading In bonds on the New
York Stock Exchange in February
totaled s2ss.33s.0ee,. compared with
s35s.os5.ooe in January, the record
figure of sest.s3o,eo0 in December
and $2S2.s23.o00 in February. 1919.
Daily average sales were Miscel-
laneous. sS.233,727; Liberty issues.
!Io:32I: GOO; all bonds. s13.56o,727.
The Washington herald., 1920-03-15
CORN PRODUCTS EXTRA
DIVIDEND PROSPECTS

On the basis OF earnings Of the
Corn Products Rehning Company in
recent months 1t is expected that
the directors when they meet on
March 2s will declare an extra dlyi-
dend OF SO cents a share in addition
to the regular quarterly disburse-
nent of 81. This would be at the
same rate declared at the last
meeting. ~
The eompany's earnings in jan
uary are said to have exceeded those
OF 1918 by q substantial margin.
Earnings in the current month are
expected to be we'll In excess of
February's net--the latter was q
short month--and bring profits for
the first quarter In line with tina
s1.s2o.s27 net earned after all
charges and taxes 10 the CORE.
spending period Of 1918. The best
quarter the company ever had was
in the June quarter of last year,
when net after all charges reached
s5.s5s.5Ii.
The Washington herald., 1920-03-15
WFIELAN "BULLIsH" AS
HE SAILS FOR EUROPE

George ]. whelan, president of
the United Retail stores Corpora
ton and one of the leading interests
In the tobacco trade, left for Europe
Saturday in an extremely optimis-
tic frame of mind regarding the
outlook for the tobacco industry.
He predicted that 1920 will be one
of the most prosperous In the his
tory of the tobacco companies.
1T matters not" said Mr.. whelan.
whether general conditions are "a
vorable or adverse. The year 1919.
In which tobacco companies had to
readjust themselves to peace basis.
was q trying one for them. But.
notwithstanding that the tobacco
companies as a whole made a rood
showing and with the difficulties
OF 1913 eliminated in 1920, their
showing ought 10 be the best in
their history" Mr.. whelan express.
ed the opinion that the stock mar.
ket appears to be in pretty good
hands.
1t is rumored that Mr.. whelan,s
trip 10 the other side has to do with
negotiations said to be under way
TO obtain control OF the tobacco
monopoly in France. which Is now
held By the French government
The Washington herald., 1920-03-15
COLD IMPORTS.

Bankers who ought to be In a po-
sition to know are inclined to be
skeptical of some OF the recent re-
ports to the effect that Great Brit
ain. and France were preparing 70
ship s75o.ooo.oe0 in gold to this
country to meet tho Anglo-French
maturity of next October. while II
is generally believed that some
gold will come forward between
now and next autumn. many mem
bers of the banking community
win be surprised IL as much as
SEQ, 100000 is imported on British
and French account. An officer in
a leading bank said yesterday that
the gold rumors, which have never
been oficia1ly confirmed. have
served the purpose OF constructive
propaganda. The mere fact that
Britain and France are prepared to
ship gold, IL was stated, had helped
sentiment a great deal.
The Washington herald., 1920-03-15
7REIN NATIONAL MARKETS go -
GEO. LIVINGSTON MADE czaEF
OF U. s. BUREAU OF MAIzkETS

George I<vineston has been a.
pointed chief OF the Bureau Of n.r-
kets. United States Depsrfren, ~
nerfcuiture. elective January ~.
ne mas been acting chief OF the
since July 1, when Charles
ar. Livingston II native OF Ohio
ana rs ~ years old He WA. ear
es,ed at Ohio State University. cor-
neh and the University Of Hsue
ne was Instructor in farm erco~
ana Mechanic Arts In 1sos arI
Isip and taught axronomv a
onio state University from fa,f
20 1918. During 1914 aad Jag.
ne was acting chief of the A.
partment OF agronomy ana A. ~.
same time was associate arronor,fs<
OF the Ohio Agricultural Experi-
ment Station.
he came to the United States n.
partment OF Agriculture in IaIs -
assistant marketing speciaIist In
1919 ne was given the position of
specialist In grain marketing. He
remained in that position until he
became acting chief OF the bureau,
he Was in immediate charge OF Fed
eral grain supervision under the
United states grain standards act
ana directed the work of grain SUI
pervisors and their assistants IN the
thirty-six Federal grain supervision
districts OF thea country. In addi-
uon he had general supervisors over
all of the grain and hay marketing
activities of the bureau.
Mr.. Livingston was born on a farm
and lived there until he was fs
years of age. Since that time he
has been. continuously engaged In
some phase of agriculture.
The Washington herald., 1920-03-15
CRUCIBLE SOON
TO CUT MELON
Shareholders Due for Ad-
ditional Benefits
Shortly.
STOCK TAKES sPURT
ATTRACTS Considerable At
tention In Last Weeks
Market.
STOCK TAKES SPURT

crucibIe steel attracted more at
tention this week than any other
stock following the stock dividend
decision handed down last Monday
by the Supreme Court. That was
because on January -. 1890. H. s.
wilkinson. chairman OF the board.
announced that the directors Of
his company had planned 10 create
$50. 100000 new stock to be issued
from time TO time as stock divi-
dends after the Supreme Court had
handed down its decision in the
Macomber case. He added that no
action would be taken until after
the Supreme Court handed down
the decision on the taxation of
stock dividends. that the company's
policy would be one Of conser-
vatism and that at no time would
there be any large stock siistribu-
tion. He said earnings would be
carefully watched. so that In is
suing additional stock there would
be no jeopardizing of the contin-
uance of reasonable common cash
dividends. He then pointed out
that current earnings had been and
were going into improvements
properly chargeahle to capital ac-
count. and that such appropria-
tions would be available for divi-
dend purposes.
Crucible ends its fiscal year on
August 81. According to the an
nual report of August 81. 1919, the
company had s25,000.o0o common
stock outstanding against s24.57s.-
900 at the close of 1914 and a proft
and loss surplus Of s45.774.o00
against s7.371.oo0 for 1914. For
1914 the company earned only 4os
per cent for its s25.0o0. 900 7 per
cent cumulative preferred stock:
Tor 1915. 5.4 per cent was earned
for the common stock: for 1915,
45.s: for 1917. 42.I;~ for 1918, Is.3;
for 1919, 31.3. The following table
gives the high and low price
touched for the common stock DUR
ing the war period. together with
the company's dividend record:
The Washington herald., 1920-03-15

One reason for the enormous buy-
Ing Of Reading last Week 10 the ex-
peetation that the company will
declare stock dividend soon rep-
resenting the coal properties which
the government may compel II 10
ssgresats, Another reason fs that
the company will not sesregate
these coal properties because the
supreme Court decision In the
United States Steel case seems to
confirm the right OF a holding COM
pany TO own any reasonable amourt
OF property. The Reading Railroad
does not own the coal mines. They
are owned by the Reading Com
The Washington herald., 1920-03-15
Huge Buying Of Reading Stock
Forecasts Stock DiDidend Action

pany, which is not q railroad com-
pany, hut . holding company.
wanna haiiroad directors perfected
lt fos g psy.ns :.as 100 per cent
Ing coal properties owned by tbe
fsilresd; The distributes was held
up pending dscision OF the Supreme
Court on the taxsbility OF stock
dividends. Now that stock divi-
dends are tax free. aunouncofnent
Of this Laskawanns dividend IL ex-
pscted AZ any time Is-will natur.
ally help the market for other coal
railroads and its reflections is seen
In the market for Rssdins stock.
The Washington herald., 1920-03-15
Hope to Improve Exchange.

They emphasize further that while
all these European countries are so
closely linked together. there will
not be much chance for exchange
reaching normal, unless conditions
of all countries show the people
are working and producing.
Copyright. 1870. BY Public ledger Coz
The Washington herald., 1920-03-15
COLUMBIA GRAPHoPHoNE.

The annual report Of the Column
bia Graphophone Company for the
year ended December IL. 1919, shows
net income after all charges and
Federal taxes Of ss.s2t.2o2. equir>-
lent. after the deduction of preferred
on the outstanding Sss.47I shares
of common stock of no par value.
Gross earnings last year asgre-
gated s7.7s3,o4L After interest on
funded and floating debt OF s2sa. $50
and s5lt.5so for depreciation reserve
and other charges, net proft for
Federal taxes was s7.o15,515. Divi-
dend payments totaled s2,435,402,
leaving a Sl,1ss.S0o surplus.
The Washington herald., 1920-03-15
GOING UP.

Standard Oil of New Jersey COM
mon continued its rise in the Wall
Street market Saturday, adding IS
points 10 its high of the previous
day, selling at $3.50 share over
the counter. This set a new high
record. <It Is understood that AN
early announcement is to be made
by the company Of a plan involving
splitting up each share of the pres
ent outstanding stock into four
new shares OF SIS par value.
The Washington herald., 1920-03-15

Today the holder of, say. 1ee
shares of Crucible is receiving diyi-
dends at the rate<ef $1,000 per an
annum. IL a stock dividend of. say,
so per cent should be declared and
the dividend rate should remain at
12 per cent, he would get s1.So0
income. On this additional income
he would pay. as the law now
stands, at the PREVAILING scale of
surtax rates. In other words, he
would be taxed on his increased in
come. All corporate dividends are
exempt from the normal tax, cor
poratISns themselves being subject
to normal tax of 10 per cent on
income. If the additional cash in
come received by reason of larger
dividends should bring an individual
stockholders income above 5000.
he would pay a surtax in excess
above 5000. AS to principal, the
stock market result OF a so per
cent dividend should be a decline
OF 80 1-3 per cent in the market
price of the shares the day the
shares sell ex-dividend.
The Washington herald., 1920-03-15
United States Grain Corporation
Reports Weeks Grain Movements

-fourth
out in
receipt pm arms. bu.
wheat
Flourpr
March
m
Totaist tocks. wheata al tors and
mills, previous 1S2s2Soeo s93oseoo
Change for week. bu 4i54.000 dec 7,2i4,ooodec
flour
l. 1919
sto20oo bushels wheat Ssooo barrels OF flour
bushe
inude Relief Administration and American