davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-10-14
FOrgan Denies Reserve
Board Halls Farm, Loans
asserts Adrice to Banks Has
Al,oays Been to Encourage
the Agricultural ustrv

CHICAGO, Oct. 13.-Charges of farm
ers' organizations that the Federal Re-
serve Board is responsib@ for declin-
ing commodity prices in the grain and
cotton markets were answered to-day
by James B. Forgan, chairman of the
board of the First National Bank Of
Chicago and president of the advisory
council of the Federal Reserve Board.
Efforts of the Federal system to cur
tail credits, he said, have been directed
against non-essential industries and
speculation. The advice of the board
to member banks has always been that
the latter give every encouragement
po slple to the essential agricultural
jrdustrV"
New-York tribune., 1920-10-14

He will be permitted to sit in secret.
Every meeting of the council may be
in absolute secrecy.
"The incredible thing about this
whole proposition is that such
scheme ever should have been seriously
submitted to a people who have been
trained to democracy and devoted to
the principles of popular government"
New-York tribune., 1920-10-14

1900. There we're few present and tha
bidding was far lower than had been ex-
pected by Count Magri. A. walnut four
post bed. with a canopy, presented to
the couple by P. T. Barnum, broughs
sSl, the high price of the day.
A piano, built especially for tho
countess, sold for $11. The sale is IN
continue tomorrow.
New-York tribune., 1920-10-14
Mrs. Thumbs Effects Sold
Dwarf's Household Furniture Is
Auctioned for $500.

MIDDLEBORO. Mass, Oct. 13.-The
auction sale to-day of the effects of
the late Countess Lavinia Magri, known
as Mrs. Tom Thumb, netted less than
New-York tribune., 1920-09-03
Unsettled Conditions
Rule in Sugar

current prices. fr. ago.
Sugar gran. ID. ........ 1900
Coffee. Santos. No. T.. 22ss % o37s .s
Unsettled conditions continue in
both the raw and refined sugar mar
kcts, and correct quo,ntlons arc difficult
to arrive at. Full duty raws were offered
from 10c to 10i i@c c. i. f., and Porto
Hicos were believed to be available at
about nc c. i. f. Cuban holders arc sit
ting tight. sugars arriving here being
pmcdiately placed in store for an ad-
vance in price. There arc said to- be
about 10000 bags of Porto kicos now
on lighters awaiting an improved mar
kct. At the moment these sugars are
not being pressed on unwilling buyers
There were rumors circulating in the
trade to the effect that lower Wall
Street refncr who had bought heavily
of Java whites had diverted upward of
$4,000 tons Of these sugars to Holland
and other European countries. thus
being relieved of large block of sugar
originally intended for this market.
Sugar Futures-The market for sugar
futures was again dull and without special
feature. The opening WAS 2 points lower
TO "5 points higher on II few transact ions
In September on the call. There lit
II" or no further trading until late in the
afternoon. when outside interests started
covering movement which stcadicd
prices. f1nal quotations being net 90 to 20
points higher. the relative strength being
shown in tho new crop months.
The range OF prices rOllOWs:
New-York tribune., 1920-09-03
Cotton Regail1s Part
Of Lost Ground
AS Shorts Cover
Bear Traders Take Profits
and Get Out of Market i'm
Anticipation of Three
Day Holiday

The cotton market recovered the
greater part of Wednesdays losses dur
ing yesterdays trading. There were
various features in the news which
were emphasized on the advance and
may have led to some buying, but the
demand was most generally attributed
TO covering for over the approaching
three day ADJOURNMENT, as the Amcr-
can futures markets will both be
closed from tonight until next Tues
day morning.
Whatever the character of the de-
mand, October was relatively firm, sell
ing up to 27.2O, or 40 points net high
cr, while LATER months showed gains
OF ITO to 1873 points at the best. Last
ErIces were Is to rs points off from
the top under realizing. and the final
tone was called easy, although the mar
ket showed advances Of 90 to 1873 points
for the day.
The market opened steady at an ad-
"ance of II to AZ points on reports Of
uHfavorablc weather in the South and
covering after the big break of the
previous day. There was heavy selling
for Liverpool account which caused re-
actions of several points right after the
call, but the offerings were soon alb
points net higher before the end of the
morning. Another setback Of 25 to so
points occurred during the noon hour,
but the covering movement continued
and the highest prices Of the day were
reached in the late trading. There was
como talk Of buying to cover hedges
against sales Of spot cotton in the
South, but nothing definite developed
ir that connection, and most brokers
thought the advance reflected a dis
position to cover contracts before the
holidays.
Private cables said there was n bet
ter feeling in Liverpool with reference
tc labor conditions in the coal mines,
among some Of the local traders that
mcnt in domestic trade demand after
Labor Day. Many Of the mills which
have been curtailirg or shut down dur
ing tn" past week or two are expected
to resume operations next week, and
che idea appeared to be that they might
show Il renewed Interest in r;l.v mate
ria!s. There was also talk Of light GIN
ming returns from tho Census Bureau
on Wednesday, but there was little
change in the ncws from the goods
market, :nd reports from the Southern
spot markets showing rallies in the
Southwest also INDEBTED declines in
some Of the Eastern belt ccntcrs. Quo
tGtions for middling cotton in the South
now range from 2750 to $50. quota
tions Of about 80 cents bcin. nomi-
nal in most c"2cs.
The local market for SPOT cotton was
quiet and $50 points higher at 31.75 for
miGdling; no sales were reported.
Tho range of prices follows:
New-York tribune., 1920-09-03
Silk Production Decreasing

Optimism is growing in ~thc silk
trade, and the vo.umc Of business .s
tending to Increase. but prodaction is
on the downward curve and probably
will reach still lower levels if present
indications are accepted. At current
market levels, say the silk manufac-
turers, there is no profit in operating
their mills. Some attempts have been
made to induce labor to accept smaller
wages, and in the majority Of in
stances have not hcca successful.
Several manufacturers yesterday de-
ciared that as soon as raw materials
on hand'run ou. they will close down
their mills completely. unless their
workers show disposition to take
lower wages. As one manufacturer cx.
pressed it, the fight now lies between
labor on one hand and buyers on the
other. Buyers apparently are not yet
ready to pay higher prices for finished
goods. and labor is not willing to ac-
cept less for producing them One or
the other will have to give in soon,
according to this manufa cturer. or 90
per cent Of the industry will cease
producing.
New-York tribune., 1920-09-03
Non-N1ember
British Plan to Use German
Labor and Textile Machiner,

The much discussed project of sup
plying Germany. with raw materials
and taking back frished or partly
finished goods AID allowing the Ger
mans to keep a. certain portion of the
raw material as payment for their
work, apparently is near realization.
A textile man recently returned from
England states that many of the lead
ing textile interests there are nrepar-
ing to put this plan in operate n,
largely because Of the continued
underproduction OF the workers in
British mills. The plans call for the
supplying of German and Austrian
mills with cotton, fax and wool and
the taking back of partly finished
fabrics, the finishing TO be completed
in the british mills.
Southern cotton planters are dis
cussing the formation OF an export
corporation to supply the low grade,
short fbred cotton, OF which there is
great surplus in this country, to the
Central Powers, which in years past
we're the principal users of this grade
of fibre. The acceptance of cloth IN
payment for the cotton IS one OF :he
features Of this pan that has been
under discussion
New-York tribune., 1920-09-03
Commercial Credit

Opposition to the wider use of trade
acceptances, according to Robert H..
Bean, executive secretary of the
American Acceptance Council, speak
ing yesterday before the Delaware
Bankers Association, is kecner among
bankers than among business men.
1.-THE trade acceptance" he said,
"needs explanation rather than de-
fense. To allow perfectly good live
commercial credit to remain tied up
for thirty, sixty or ninety days in il
liquid open book accounts when such
credits could and should be released
for other service is a reflection on
the business judgment Of the American
merchant. Wherever the trade accept
ance is used certain cardinal prirci-
Piles should always be followed. 1t
should be used only where goods are
sold on time and for current live ac-
counts. 1t should approximate the
date of invoice and should run for no
longer time than the usual open ac-
count terms. 1t should be free from
conditional or involved agreements,
interest charges or discount, and repre-
sent plainly the amount Of the invoice.
1t must never be used as a renewal
of msturcd or unpaid acccptances nor
as means to secure additional work
ing capital"
Commercial paper yesterday contin-
ued to discount at and 81 per cent.
Bankers acceptance rates were un-
changed as follows:
New-York tribune., 1920-09-03
I'd Posthumous Award
Made Capt. A. E. Hamm
Widow Receives French War
Cross and Citation for His
Heroism i'm Raid at Fliery

Another posthumus decoration has
been awarded to Captain Arthur Ellis
Hamm, the New York officcs who was
killed in action Mt St. Mihicl and whose
gallantry won him the Distinguishes
Service Cross. The new citation is oy
the 32d Division Of the French Army
and the decoration is tho Croix DC
Guerre with gold star.
Mrs. Elizabeth Creevey Hamnn. widow
Of the officer, who lives in the Apthorp
Apartments. 800 West End Avenue. has
received the medal from France. to-
gethcr with a description of the vaior'
Gus act which won it. This reads:
During the famous Flirey raid OF
August 4, 1918. Captain Hamm not. only
proved his ability to lead and COM
mand men, but displayed remarkable
GOODNESS and utter personal disregard
for self under the most severe machine
gun and artillery fire. His company
captured that day several machine
guns, the first to be taken by the divi..
sion. and many valuable papers ana
documents, besides inficting heavy
losses upon the enemy. Many Of his
men were wounded, and he himself re-
ceivcd q grenade splinter in tho hans
but due to the skillful manner ~
which he handled the advance and re
order with which Ne conducted sne
withdrawal. not . man Of tho comseYt
Vas killed
New-York tribune., 1920-09-03
More Financial
Troubles Appear
In Silk Trad e
A4w Silk Trading Company
Forced to Seek Extension
and Jobbing Concern Is
Petitioned in Bankruptcy

The financial troubles Of some Of
the largest concerns in the silk trade
which come to light from time. to time
serve to unsettle the confidence Of
buyers in prices, and. according to
trade leaders are delaying the revival
Of trade despite the fact that indlca-
tions point to sound footing. Yes
terday the financial difficulties Of
Goldman Brothers. a jobbing concern,
came to head by the filing of an in
voluntary petition in bankruptcy
against the firm. The petition al
leges that liabilities are about $780,
600 and assets $4,000 Efforts to re-
organize the company have been in
progress for some time. but failed.
Other estimates Of the liabilities OF
the firm run as high as S1,250,000.
The Raw Silk Trading Company, one
of the large operators in raw silks,
has asked its creditors for an cxten-
sion of one year. The firm is declared
to be solvent with liabilities of 81
600, 900 and nominal assets of $780,
900. Like the Klots Throwing Conf
pany, and other factors in the silk
trade that have run into trouble, the
dull market has left the company in a
position of needing ready cash, but to
realize on it's merchandise assets at
present would incur large financial
loss and possibly bankruptcy.
New-York tribune., 1920-09-03
Clock Business Steady

Clock manufacturers report q slight
falling OFF in new orders, but as yet
are not pressing their customers for
new business. In fact, according to
representatives Of leading clock con-
Germs, the slight lull is welcomed as
an opportunity to catch up in back
orders. There have been no cancella-
tions and the manufacturers feel easy
concerning the orders now in hand.
Retailers are expecting less Of bulge
in the demand for home clocks this
fall than usual on account Of the
housing shortage. October in past
years, with its many changes in resi-
dence, always has led to an increased
demand for new clocks. Retailers re-
port the present demand as steady and
their own stocks low.
New-York tribune., 1920-09-03
Domestic Buying
Lifts Wheat Prices
To Higher Levels
Report That Large Foreign
Orders Overhang Market
Causes Optimistic Feeling
Around Board; Interior
Markets Strong

As a result of an active demand for
wheat contracts throughout the day
prices developed further strength and
closed with net gains Of AZ A@6Ac.
The volume Of new export sales was
small, amounting to about 100000
bushels, but there was good buying
which was believed to be against old
business and offers were small.
There were believed to be some
large export orders in the market, but
the rapid advance in prices apparently
placed thsee out 6f line, as they were
limited as to levels. Receipts at
primary points were moderate. and the
fact that the movement is not keeping
pace with the demand has created
strong bullish sentiment despite the
fact that the crop is liberal one and
there is large surplus on the farms.
The Winnipeg market also was strong,
and the fact that the price OF Canadian
wheat has recently advanced to about
a parity with the domestic markets
has contributed to the strength in the
situation. 1t is quite evident that
farmers are not selling freely. and al
though the car situation has improved
considerably recently and shippers are
having little difficulty in moving
wheat to the seaboard for export to
Europe the movement from the farms
to the terminal markets has not in
creased as expected and all the in
terror cash markets were strong.
The domestic -four demand has been
slow all season on account Of the
numerous uncertain features in the
situation. and in consequence the
domestic demand for cash wheat has
not been up to normal. In the local
cash market No. red and No. 2 hard
were quoted at $276 spot C. i. f. track.
New-York tribune., 1920-09-03
More Cotton Mills to Close

The continued softcning of cotton
goods prices is leading many mills to
plan still further curtailments in pro-
duction. Reports from the South indi-
cate that mill owners there are getting
little new business and that close
downs are imminent. At present the
Southern mills are running to greater
capacity than the New England mills,
II 10 understood in the cloth markets
here. While 10 set policy is in rogue
smong the mill owners, most Of them
appear to be willing to use up their
present supplies Of cotton or yarns and
sell the cloth at loss, il necessary. be-
fore closing down. few mills are
piling up goods in anticipation Of q re-
vival OF business this month and the
stabilization Of prices.
New-York tribune., 1920-09-03
Crop Report Brings
Late Rally IL, Corr,

The corn market was easier at the
outset under further selling, prompted
by increasing receipts at the primary
points and show of weakness in the
cash situation. On the decline, how
ever, there was heavy covering by
Eastern shorts in the September posi-
tion as we'll as new buying in the
at one time showing net advances Of
over &c for the active positions. There
was no frost in sight throughout the
belt, but official reports to the effect
that in different parts of the West the
corn crop was from fifteen to forty
days late, made it seem more than
probable that considerable per-
ccntagc of the crop will be caught by
frost unless the date of killing frost
is abnormally late. Cash corn in Chi
cago was weak, despite the advance in
futures and the rapidly disappearing
cash premiums caused some nervous
ness among those who wero inclined
to take a bullish view of the situation.
corn was quoted at $1.72 c. j. f. New
York, ten days shipment.
Yesterdays Previous Year
No. S'S yelow yeno sieSs SIZE fiSs'' $751; Hsa
Espts%ssF DsetmSer ] 1iss 1is7s 1iSs 1iSss 1as' 1as
Oats-rhc oats market was Influenced
largely by the action of corn, but price
changes were confined within narrow linn
its. and closing quotations showed net
gains OF is to i4c. In tho local cash mar
ket No. l white and No 2 white were
quoted at soc; No. 3 white. roc: No 4
white. 7Sc; fancy clipped white. sec. and
ordinary clipped white. 7oc all elevator.
Yesterdays Previous Year
New York: close. close ago.
No white. .so.79 $3.50 so.93Q
September -. SO .66A .69M
December .66H .GGss .72A
Ryc-Mar<et steady.
Yesterdays Previous Year
Now York: close close ago
No. West. .S2.30ia $2.35 $155
\ yrsterday.s rasa rrcvous sios" Year
sl3.S5 ri 1925 sl225@1a25 s11s59 -
Cornmcal.
3..oqy 400 1900 400 4co@ --
10 2501o.75 los5@1o75 s.oo0 $40
Bran.
5000 5000 1900
Cottonsecd Oil-Thore werc further do
Itr"riHS of 100 barrels on September con-
tracts IN the oil market. bringing the
total deliveries 10 1920 barrels. Tho oil
appeared to have passed into strong hands,
however. and there was tendency on the
part OF September shorts to cover whil,.
offers wrrr small. This demand and a.
little new buying on tn" strength in cotton
and grain EavP the market frincr tone
and final prices were 1sly45 points net
higher. Total sales for tho day were 7 200
burrcls
Tho of ric foil
New-York tribune., 1920-09-03

Coffee Futurcs~-Thcr" was little In thr
way of frcsh Development in the local cot
f." market yesterday, Knd 1t WAS 81
dragging AFFAIR. On the call prices were
J.. % II points lower on lluuidntion in De
crInirr by II Wall street commission house.
which carried down the entire lixt.
Around midday prices worked iow"r at
one timo being 20 to 30 points below tho
previous close. Late In the day frw
huylnK orders appeared and a partial re-
to 20 points rct lower. No cncoura:;. inrnt
came from Brazil. the cost and freight
but RIO offers were about .5 to 35 points
lower
rhc official cablN from Snntoa rcporting
tho ci"ning In tn" futures market thcr.,
a.id that quotations wcr. for liquidniinu
of outntandng term contracts delivery all
xrades. New futurca contracts attrulnt.d
type. Nos. ard 8. and the delivery Of
lowor grades was not allowed IL was
the opinion OF most brokera hare that this
WeS An0thsr step on the part Of the Bra
New-York tribune., 1920-09-03
Island Oil Income Report

The semi-annual report of the Island
OIL and Transport Company, issued
yesterday for the six months ended
June 30, shows a surplus after charges
and taxes of $l,326, COS, equivalent to
SO cents ($10 par value). earned on the
$22.500,000 capital stock outstanding.
The gross earnings totaled S4,140,595
and the net from operations was ST.
702,198 Profits of the refneries in
which the corporation is interested are
not included in the statement. Two Of
these, the New Orleans plant Of the
Island Refining Corporation and the
Boston plant of the Massachusetts Oil
Refining Company are now in opera
ton.
New-York tribune., 1920-09-03
Toronto
Western Electric Organizes
Company in South Americs

Organization of a new company in the
Argentine to take care of the telephone
requirements Of countries in the lower
part Of South America has been an
nounced by c. E. Pingree, ice-presi-
dent of the International Western
Electric Company.
The new company will be known ss
the Compania Western Electric Argen-
tina and is expected to form an i'm
portant link in the group of subsd-
Iaries which the American company has
been establishing throughout the
world during the last few years. The
capital stock of the new company con-
sists of 5000 shares of par value Of
100 pesos. Its headquarters will be in
Buenos AYrcs.
New-York tribune., 1920-09-03

Herman, David L. 49, Firemen's
Fund Insurance Co: OF San
Francisco: July 81 1919 49,. 28s.2o
isie eo.o''.o".. 49," M 5000
q Co.: Nov s. 1915. .......... bss25
Nov. 6. 1912 .............. 2ss.so
Kaplan. Benjamin A. Japan
Leather Cloth Co.: March rs, ,.,..
Polsky, Herman. Benjamin Fein-
ser: june Fl. 1920 ............ soAss
Massachusetts Bonding and In
surance Col. Schneierson:
July 20, 1920 .............. 2.747.H
Tipperman. Simon - Equitable
IS. 1920 ..................... " ~ ~ 1868
scheickert; Nov. II. 1si7.... 1.s2soo
In Bronx County
Do Falco ADomenico - Eblng
Brewing Co.: Nov. /, 1915 167oA
New-York tribune., 1920-09-03

MeTchAndls!ng activities by whole
salers and manufacturers throughout
the country this week, az observed by
the Credit Clearing House, show a
slowing down from last weeks report.
Buying decreased - per cent. in
debtedness increased OF per cent, and
payments dccreased IL per cent. In
only one section u the country. the
North agricultural, was there any in
crease in buying. During the two
weeks previous the report showed an
Improvement in merchandising condi-
ttons.
New-York tribune., 1920-09-03
Textile Industry Recovering

The textile industry of France en-
ploycd about $4,000 men, in 1914. Of
whom only per cert had returned
by July. 1919. Last December. how
ever. more than 33 per cent were back
at work. or about four times az MANY
na in July. Six times as many miners
were at work In December az in July
and twice as many in hardware and
New-York tribune., 1920-09-03
General Petroleum Corp.
Earns SlO.S3 Share

The surplus of the General Petroleum
Corporation for the fiscal year ended
June 80, according to report issued
yesterday, amounted to $2,449 ,236, after
charges and Federal taxes had been de-
Quoted. This is equal. after allowing
for preferred dividends, to sl0.53 .
share on the S2ll23.900 common
stock. compared with the surplus OF
s2.448,578, or s12.9l share, on $l7r
2l7,6 600 stock in the preceding year.
The gross profits totaled S7,669, ,So9,
and the net, after expenses and ordl-
nance taxes, was $6.332,446 decrease
of $341 500 from last year.
New-York tribune., 1920-09-03
Silk Exposition Committees

Committee have been appointed for
the promotion Of the international Six
Expedition TO be held under the join,
auspices Of the SILK Association Of
America and the Eiik Trayelers' As
soejation 1t the Grand Central Palace
4urfng tbs week Of February 7, 1921.
Albert Tilt eS tho Phoenix Six Manu-.
Heeeas1sg ceaeanys IL sbsasasa Of the
New-York tribune., 1920-09-03
Business News

committee on educational exhibits; W.
Fl. Yelland, Of the Carl Schoen Silk
Corporation, heads the committee on
publicity, and ]. ]. Twohey. Of the
Bentley & Twohey Silk Company, is
chairman Of the pageant committee.
Charles Cheney, Of Cheney Brothers, is
chairman Of the organization COM
mittee
New-York tribune., 1920-09-03

CONSTANTlNOpLE, Sept. 2.-Ad-
vices from Brussa, the ancient Turkish
capital in Asia Minor, report the Greeks
holding in hand bands Of Turks who
have been carrying out raids in the out
skirts of the city. These bands have
been rounded up by the Greek troops
and their depredations stopped.