davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1920-05-10

shows Improvement, II is regarded
as unlikely that there will take
place any pronounced change for
the better in this respect.
Some Of the large investment
houses complain of a lack of inter-
est on the part of the public in the
market. but entertained feeling
that perhaps a little later on in the
year there will develop a brisker
demand for this class of securities.
especially IL the much, desiredNde-
nation in commodities takes place
which. in turn. will release funds
which are now tied up purely for
the purpose of profiteering
1t Is well known that there has
been and still continues the rank
est kind Of profiteering in COM
modities and the bifls payable of
numerous corporations today rep
resent larger totals by far than
under ordinary conditions. Promi-
nent bankers say that they are en-
deaVoring to present to CONNER
cial interests the necessity for cur
falling their operations in order to
anord relief to the banks Of the
country which are now straining
their facilities to the utmost, to
meet the unprecedented demand for
money. 1t was pointed out by one
influential banker that whereas ear
ly In January, the raising of dis
count rates by some of the Federal
Reserve Banks had initiated a de-
fation movement on the part Of
many commercial enterprises, the
better feeling created by the Su-
preme Court decision in the Steel
Corporation suit as we'll as the
stock dividend tax decision suit
with the subsequent declaration of
numerous stock dividends, etc, up
set much Of the good work which
had previously been accomplished
and commercial interests again re-
sumed their expansion progress
Naturally, the numerous strikes
which have taken place recently
have exerted an important infiu-
ence in bringing about much of the
present money stringency because
commodities have been held up
with the consequent tying up of
capital which could not be freed
for the desired purposes.
Some OF the leading railroad is
sues have been in slightly better
demand recently. but this has been
only in special instances such as the
Reading bonds, which were improved
materially following the decision by
the United States Supreme Court in
favor OF the government which was
Immediately interpreted as indicat.
ing that that company would be
liquidated which in turn would en-.
! tai! paying off the Reading bonds
at par. Some of the bonds repre-.
senting several OF the smaller rail.
roads have been picked up on re-
cent declines by strong interests,
prominent in this group being the
ST Louis AMI SaL Francisco bonds.
There has been considerable activ,
ity in somc OF the leading indus
trials, such. as the United States
Steel sinking fund SIS.
IN the foreign government dc.
partment there was a moderate de.
gree Of activity during the week,
but price changes were Of unimpor.
tant proportion. Some Of the prIn.
cipal bond houses of the Street have
recommended the purchase of such
issues as the United Kingdom of
Great Britain and Ireland 5Ihs, CITY
of Paris IS and the Japanese Gov.
eminent 4iss. The return on these
bonds Is an attractive one. but buy.
Ing has becn only in moderate vol
ume
The Washington herald., 1920-05-10
May Adopt New Method of Quoting
Various Foreign Money Values

The weeks dealings In European
exchanges were for the most part
exceptionally quiet. particularly in
sterling. in which exchange the
violent fluctuations Of previous
weeks disappeared and a steady
tone prevailed. The bidding was
firm for this exchange while, with
the exception of Tuesday. offerings
were on a light scale. The net re-
suit of the weeks dealings was an
advance OF about 3 cents to around
S;S6 for the demand remittance.
The feature of the week was the
strength developed, first in marks
and later in lire exchange. In one
quarter. where the nature OF trans
actions is usually judged with ac-
curacy. it was said that the strength
In marks was not wholly justified
by conditions and that further ad-
vances would probably be more
moderate.
Lire came into heavy demand on
Wednesday and the quotation re-
sponded quickly. advancing through
the week from $50 cents per lire
~ o.VV SChlS- Ine OlQeT
method OF quotation this was an
advance from 2220 to 1000. The
advance was not readily explained
in this market. though 1t was sug-
gested. probably With some degree
of truth, that plans for the refund
ing Of interest due to England on
Italian Indebtedness would be forth
coming in the near future. It was
noted that such financing on a
previous occasion had saved Italian
exchange from the disastrous re-
suits of a default on interest pay
ments.
In discussing the outlook for the
Latin exchanges in the near future.
a dealer in one of the largest insti-
titions Of the Street gave It as his
opinion that the strength which de-
veloped in the Latin exchanges dur
ing the week was an indication that
the corner had been turned in the in =
ternational financial situation of
these countries. Belgium. he ex-
pressed as extremely firm. il judged
by the character of the dealings in
this market, and France showed re-
assuring firmness through all the
quiet dealings of the week. He
pointed out that the coming of the
spring season materially Iightened
the demands OF these countries up
The Washington herald., 1920-05-10
French Prohibition OF Luxury Imports
Affects but Few of Our E xports to France

Except In motion picture films
and parts of automobiles, the pro-
hibition Of imports of luxuries in
to France seems unlikely to be q
serious matter in our trade with
that country. The list says a
statement by The National City
Bank Of New York, contains, 10 be
sure. hundreds of articles. but onIv
a comparatively small number of
them of the class which we are ac-
customed to export, though certain
OF the articles in the prohibited list
published In the Journal officiaI are
phrased In such terms that they
might possibly be included In our
export classifications stated In diff
ferent phraseology.
Even in the few prohibitel artI-
cles which are distinEuishable in
our own list OF articles ,exported
the number or value exported TO
France is extremely limited, the
most important being motion pic-
ture films. chassis and bodies of
motor vehicles. airplanes. motor
boats, wall paper, artificial flowers.
spectacles' toys, and certain other
less important articles recognizable
az wi o"h SApOTt ClASSlnCat1OnS.
Take, for example, the item in. the
French prohibited list "sensitized
cinematograph films which in our
own classification OF exports is des-
ignated motion picture films"
The total exports df exposed motion
picture films to France in the cal
endar Year 1918 Is 100000. feet.
valued at s653.o00 as against So
$4,000 worth sent to Great Brit
ain and grand total of ss,oe7, 900
exported. In the elassifea tion OF
films. mot exposedr the exports to
France in 1918 were less than 2.-
100000 feet, valued at s1s3,o00.
AS 20 the prohibited group or
automobile parts, chassis. with or
without<motor. and with or without
body" also bodies Of motor vehi-
cles for transportation OF passen-
gers no definite figures OF our ex-
port thereof 10 France can be OBJ
The Washington herald., 1920-05-10

on the United States for those COM
modities clsssed as necessities. this
being borne out already by the al
most negligible volume OF CONNER
cial bills coming into the market
at this time.
This same person was authority
for the prediction that gold ship
! ments from Europe in the near fu-
ture were more likely to originate
in France than England. The ef-
, feet of such a shipment on the pres
ent condition of the franc exchange
market here would be to send the
rates upward in a violent move
ment comparable to the rise in
sterling earlier in the year The
technical position OF francs at the
present time. he said. is almost ex-
| actly analogous to the position OF
sterling when il lowered between
3.35 and 3.45 just before its me-
teoric advance to above S4.00.
Something in the nature of a con-
troTersy has arisen among the New
York dealers in foreign exchange
over the matter of whether the
Latin exchanges. francs and lire,
shall be quoted in francs or lire
per dollar. or in cents per franc or
lire. The former method has been
in vogue regularly in the past, but
two Of the large institutions an
nounced during the week that they
would her "rth quote these eX-
changes ir ITS. The gain in con-
venience hVious. the cents-per-
,foreign-uE Cthod being employed
in dealings With all the countries
Of the world except those now un-
der discussion France, Italy, Bel
GUM and Switzerland. There is not
a dealer to be found on the Street
who viii! deny the benefit to the local
market OF quoting in the new
method. But the dealers complain
that concerted action was not taken
on the innovation and that coffIu-
sion has resulted from too precipi-
tate action on the part OF the few
houses which were responsible for
1t. And for the present there is a
deadlock. two large houses quoting
as per innovation. and the remainder
quoting according to the OLD Gus
tom. II is likely that the new
method will win out eventually, hut
not until the displeasure OF the
standpat group have disappeared
+, A foreign exchange club is main.
,tained by banks and brokers In New
York. where an agreement will prob.
ably be reached in The near future
The Washington herald., 1920-05-10
CAPITAL INCREASE.

Stockholders of the Franklin
Manufacturing Company Drank
lin Automobile Company VIII meet
to authorize an increase in. pre-
ferred stock capitalization from
s5.oo.epo to $4,000. .ooo. approved by
the directors. according to an
nouncement from Syracuse.
The purpose OF the increase is TO
take care OF future expansion and
to supply funds as needed in the
enlargement Of the plant. An.offer-
ing Of S1.56o.o0o Z per cent cumu-
lative sinking fund preferred stock
Is announced. For every two shares
Of preferred stock the holder will
be permitted to buy one share of
the new no par value. common stock
at $50. This right will expire in
thirty days after the authorization
meeting
The Washington herald., 1920-05-10

per cent, were secured by Liberty
bonds; 29G millions, or 2o.5 pcr cent
oy victory notes. and 1923 millions
or 50 per. cent. by Treasury certifi-
Gates, as against s7.f. 20.2 and 327
per cent of total of 1868 mil.
lions OF war paper reported the
week before. Total discounts heI,l
BY the Boston, New York and c,eye-
land banks are inclusive of 1886
millions Of paper discounted for
seven other Federal Reserve banks
as against 1876 millions the week
before. while acceptances held by
the New York, Cleveland and San
Francisco banks comprise I5.s mil
lions OF bills purchased from three
reserve bank5, compared with Is.2
millions reported the week before.
All classes Of deposits wers
smaller than the week before, mem
bers' reserve deposits showing a
decline Of 41.2 millions, Eoyernmsnt
deposits decline of Ih.2 millions
and other deposits. including for
eign government credits. a decline
OF 81 millions. On the other nand,
the float" carried by the reserve
banks and treated as q deduction
from gross deposits, shows q reduc-
roe Of zs.1 millions.
e
The Washington herald., 1920-05-10
STEEL PRICE AVERAGE LOWER

Tie average price Of eight lead
ing iron and steel products based
on quotations in last weeks Iron
Age" showed a decline OF As cents
a ton from the high average on the
recent current upward. The de-
cline was attributed to drop In
the price Of Bessemer billets from
1926 to S3.l0 per 100 pounds. The
average price of the eight basic
products, including Bessemer bill
lets, rails. bars, shapes, plates, wire
nails and tin plate. was Ss0.34 last
week, compared with the recent
level of ss0.79 a long ton. The
Steel Corporation Is still charging
the Industrial Board prices estap-
lished in March, 1919, the average
of which is nearly Sl7 a ton below
the quoted market.
The Washington herald., 1920-05-10
RETAILERS CANCEL
SPRING COMMITMENTS

Manufacturers of wooiens and
silks have received heavy cancella-
tions on orders for spring merchan-
disc placed some time ago and stfIi
undelivered. In some cases where
the goods have been received by
customers after the specific deliv-
cry date, they have been returned
to the seller. The problem Of can
cellations and returns is growing
with the declining market and
many manufacturers assert they
are unable to cope with il.
Heretofore with merchandise ap-
preSiating in value almost daily.
retailers and garment manufactur-
ers willingly accepted all belRted
shipments Of textiles, but the
change in the markets has brought
about a return of the evil" as il
is called by the sellers.
The Washington herald., 1920-05-10
PITTsBURG STEEL STOCK
r- DIVIDEND.

Stockholders of the Pittsburg
Steel Company will meet July 20. Il
was, announced in Pittsburg yester,
day, to act on the proposal Of direc.
tors to increase the capital stock
from Sl7,50o.000 to S24,5O0. .0OO
through authorization of an add.
tional 10000 shares of common
stock at 500 par. The increase is
to provide additional stock for dis.
iribution as common stock dividend
on s7.o00.ooo common stock now
outstanding.
The Washington herald., 1920-05-10
STANDARD OIL OF NEW YORK.

Net earnings Of the Standard oil
Company OF New York after depre,
citation. su=dry reserve and Federal
taN.s for the year ending December
81. 1913. were si3.Ie5.1oe, against
$2s.642-3S7 In 1913. This was equal
TO s51.52 share on the $4,000. 900
capital stock compared with s3S.Is
In the previous year.
Increase ip net earnings was sI4..
s2s.722. Dividends for the year
totaled s12.eeo,ooo. an increase OF
tS,0oo.ooe. The surplus showed an
Increase of s11.522.722 to s3I. I.is5. los.
The annual meeting win be held
May 2I. AMI the transfer books will
be closed on May II until the meet.
ing.
The Washington herald., 1920-05-10
UNION BAG a PAPER co.

The committee on. securities OF
the Stock Exchange has ruled that
the capital stock Of the Union Bag
& Paper Company will not be quoted
"ex." the so per cent stock dividend
until Nav 20.
The Washington herald., 1920-05-10

rxr wasKueros araAID VIII NOT
'EspvnsLx iSszrT EFT All asnxpysr4is2s. aSsa5ISss.
The Washington herald., 1920-05-10

Nue SHOWS p0Oe y@n OF 0ao7oo Oue
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1920-10-21
- - -
A HORSE ON THEM

The Kansas Democrats are great
ly exercised because Of alleged ex-
travagant telephone and telegraph
bills incurred by Governor Allen In
connection with his official duties.
The criticism Of these gentlemen Is
entirely proper and in good taste. A
political party that in its manage
ment of a war in which we had in all
580,1S2 horses, 67,498 Of which
were sent overseas, 10000 Of which
died and only S8,41S Of which were
used in the cavalry, for which we
bought 2,S5O,853 halters, 045,000
saddles, 5S5,516 saddle bags, 1881
100 horse brushes, 2,033,204 nose
bags, 1,14S,384 horse covers, $780,
326 sets Of double harness, 11O,S2S
sets Of single harness, S,,7S1,516
horse shoes, 1880 complete sets of
spur straps for officers in the Ord
nance department, or about 80 sets
for every officer, and 1876, 900 brand
ing irons, should not remain silent
when there is prospect of fastening
upon Governor Allen a charge of hav-
ing wasted few hundred dollars of
state funds through the excessive use
Of the telephone and the telegraph in
his official duties.-Be-
lott Gazette.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1920-10-21
SWIVEL CHAIR LOAFERS

Congressman Strong when he was
here told this: Just before l left
Washington a committee called on
me representing the government en-
plOyes Of that city. They wanted me
to pledge my support to a bill they
are trying to get through congress TO
fix their working day at six hours in
stead Of seven, with half holiday each
Saturday. Every one Of them gets
thirty days vacation a year and also
thirty days sick leave and they man.
age to make the two leaves match so
that they draw full pay for two
months while they are not working.
! refused to support the bill-they
ought to work eight hours instead of
seven"
With nearly 100000 more en-
pl0yes in Washington than before the
war 1t can be seen what a glorious
loafing army the taxpayers are sup
porting-twelve months pay for ten
work. The administration
has now over 100000 on the payroll
the greatest swivel chair army ever
on earth and yet folks won
der why the income taxes and Other
taxes are so high.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1920-10-21
THE COUNTY COMMISSIONERS

| Two county commissioners will be
elected at the coming election, one
each for the Second and Third dis
tricts. John Book who is a Republi-
can for second term in the Third
deserves endorsement for his excel
lent record. He has stood for sound
business sense In county affairs. It
would have been easy to build
bridges, roads and culverts cheaply.
to have allowed the old fire trap of a
county farm house and hospital to
go to ruin, but 1t would have been
poor economy. Mr.. Book has insist
ed that what we did should be well
done so that 1t would not have to be
done over again and that is sense
He has looked after county affairs as
If they were his own personal bust
ness and the record of the board
shows that he was always active in
caring for the interests of his own
district in everything.
Bert Funk, the candidate from the
Second district, Is farmer with a
record Of success that promises well
for the county. He has a reputation
for good business judgment and he
will give the county the benefit Of his
The two Republican candidates de-
serve the hearty support of their dis
riots and should be elected.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1920-10-21
THE NEW DISPENSATION

The announcement which came
from France few days ago that the
French Masons have admitted women
to the order may suggest to the Ma
sonic bodies of the world to follow
the example, doubtless was rather
startling to the members Of that an
cient and honorable order through
out this country. The incident has
brought more or less discussion and
among other things has evolved the
information that French Masons have
no connection with the Masonic fra
ternity elsewhere, nor can Free Ma
sons have any Masonic intercourse
with them. The separation harks
back to the days Of the French Revo-
luton when various lodges in France
removed the Bible from the altar and
substituted the Constitution of
France therefor. This act automat-
ically removed them from the Ma
sonic order and they have never been
restored.-Iola Register.
All Of which is mighty interesting,
but reverting to the French proposal
we'll say this: II it prevails and the
women are taken into full fellowship
In Masonic lodges in this country,
you'll have lot Of old dodgers who
have been looking faithfully toward |
the East for 40 years or more, going |
south at high rate Of speed when
1t comes to initiation night. 1t would
revive interest in the new work from
the grand lodge and crowd the sacred
precincts to capacity.
The ladies', God bless 'em, have TAX
en- the ballot from man and offices
and business from man and there's
no reason why she shouldn't take
away his bushes and leave him a
cold gray stone image. BY all means
let the candidate advance with q
powder puff and let the brethren sing
hat ancient hymn Of the CRATE,
Pull Down Your Shades Mary Ann"
Is she faces the goat.
So mote 1t be.-Hmporia Gazette.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1920-10-21
H. w. KINGS FINE RECORD

The county will have distinct in.
terest in the selection of county clerk
because Of the vast amount Of bust
ness passing through his office and
the close touch in which 1t comes
with almost every citizen. Fl. w.
King, the Republican nominee, en-
joys most enviable reputation for
efficiency. 1t is often said: 1.-THE
county clerks office always has the
facts when you want them; every
record is perfect" This testimony
comes from political friends and foes
alike and he will be supported by
those Of all parties because of his
splendid service. In addition to the
accommodating work of his office the
law now makes him ex-officio county
assessor and fixes his salary, as 1t
does for every county in the state,
and this work is most voluminous as
every township assessor knows. Yet
1t Is done faithfully and well.
Probably no business concern or Of
fee in the county has so much work
accomplished for so little money as
is paid to the county clerk and his
deputy. They work every day and
many evenings keeping the records
straight. He is also purchasing agent
for the court house offices, cover
ing the buying of stationery and like
for the county offices and
prevents excessive or duplicate buy.
ing, saving money to the county.
For this he receives no salary. All
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1920-10-21
A REAL COUNTY ATTORNEY

Dickinson county has had a real
county attorney in S. s. Smith. He
has not only performed his duties
conscientiously but has saved the
county thousands Of dollars by his
good sense in handling the criminal
and business affairs Of his office.
Looking over the criminal records
Of the county we find that County
Attorney Smith has during the past
twenty-one months filed 1873 crimi-
nal complaints, charging almost
every crime known 70 ttherlaw from
assault to bank robbery. Fin every
case In which there has been an ar
rest there has been a conviction or a
satisfactory settlement, with the ex-
csption Of two cases. This is one of
the best, II not the best, records ever
made by any county attorney in the
state Of Kansas. He has been able
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1920-10-21
GERMAN DUMPING BEGINS

The North American notes that at
the port Of Philadelphia, "made-in-
Germany" goods have been coming
in at the rate of 100000 worth q
month since the beginning Of the cur
rent year. This influx of German
wares at one port alone is all the
more remarkable from the fact that
since the armistice 1t was not until
August Of last year that these goods
began coming at all. Between Aug
ust 1, 1919, and January 1, 1920, the
total value of German goods received
in Philadelphia was only $350,000.
In one month, July, Of this year, more
than 100000 worth Of German
goods were received.
Cotton In great quantities Is ship
ped from here to Germany, where
cheap labor makes 1t up into hosiery
that is brought back here as the fin
ished product and put upon our mar
ket to compete with our high priced
American goods.
In the meantime our American hos
iery mills are beginning to close down
through lack of orders, or orders can
celled, thereby throwing an increas-
ing number Of American workers out
Of employment.
This is precisely the state Of af-
fairs against which Senator Harding
has vigorously protested In so many
Of his recent speeches. 1t is a state
Of affairs which cannot be continued
II American standards Of wages and
American standards Of living are to
be maintained.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1920-10-21
HARDING AND LABOR

The position Of Senator Harding
toward labor is one that ought to ap-
peal to every worker. The Typo
graphical Union Of Marion in a let
ter signed by its secretary says:
Senator Harding's newspaper, the
Marion Daily Star, published at Mar
ion, Ohio, employs only Union card
holders as linotype operators, adver-
tisement compositors, foormen, Job
compositors and pressmen. There has
never been any trouble between the
employees and the management, and
contracts have been made and enter
ed into without friction and without
the loss Of time-substantial in
creases In wages being granted in
every instance. Aside from paying
the contacted scale Of wages, Mr.,
early in the war, authorized
the office management to keep wages
apace with increased cost of living,
with the result that wages have
steadily been increased till his en-
ployes are no wreceiving from $72S
to 1884 yenr above the scale, &C.
,ording to their line Of employment"