davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
The Problem of Prices


One of the greatest needs of Ameri-
can citizens to-day, in the opinion OF
Howard s. Mott, vice-president OF the
irving National Bank, is competent
understanding Of the problem Of prices.
Diagnosis leads US, inevitably, to the
conclusion" says Mr.. Mott, that pres
emit high prices and their concommit-
ants Of shattered standards, uneasy
politics and social unrest, have been
provoked by stationary or declining
production of staples and the substitu-
tion Of dollars for wealth. With such
diagnosis the remedies should be
simple if we are courageous enough
to take them. The first one, naturally,
could be to produce more staples. The
second, to stop buying things we do
not really need or can get along with
out. The third, namely, to create
wealth instead Of dollars, would fol-
low partly automatically from che ap-
plication Of the first two, but would
be tremendously accelerated were we
to admonish our legislatures and our
political administration to follow our
example," Mr.. Mott believes that the
peak of prices has been reached, at
least for the time being, and adds:
'"Should the signs and portents of
the last few days prove to be the
forerunners of period of defation--
long or short-the outlook should be
regarded not as a cause for discourage
ment but merely as an opportunity
again to exercise the virtues of pru-
dence and good judgment"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
The Dollar i'm Foreign Exchange

The problemj Of the American dollar
over the currencies of Great Britain,
France, Belgium, Italy and Germany
was substantially reduced during the
last week. Focusing of attention on
the matter of making the collection or
reparation payments practical thing
sentimentally improved the exchange
value of the countries which would
most benef, and this, coupled with short
covering, was largely responsible for
the movement
France, according to reports, many
Frenchmen were technically short OF
francs, and the abrupt change in the
market caused not little excitement.
The rise in marks was perhaps the
most striking development Germany
too would be helped by removing the
vagueness that surrounds the indem-
nifty problem, and would be benefited
by leaning precisely what it will have
to pay. Bankers returning from Ger
many report an apparent desire Of the
Germans to get back to work, and this
has helped the mark, which has gained
strength also by covering operations by
dealers In this country who have been
selling German securities in the United
States.
Despite the rse of the European
financial questions, and are dininclined
to overemphasize the significance Of
the weeks movement.
If yon calculate the cost Of the dol
lar in erns Of foreign money at cur
rent exchange values-that is, if you
were buying dollar with pounds,
marks or francs-its value at the close
of last week, as compared with a year
ago, follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23

off Of s?e.1n,4s5 from a week ago,
Whlie discount for other reserve
banks increased $31 ,645,896. The oper-
ATOMS with member banks showed q
drop OF S73,O11,430 in loans secured
by government war obligations; a de-
crease of $4,590,373 in loans on com
merclal paper, and an increase of ST.
429,3l8 in holdings of bankers accent
ances.
The decrease In membr banks bor-
rowlngs is attributed in some degree TO
the wave of price cutting that Is now
taking place but it is believed that
TINS development has not vet advanced
sufhclently to be an important factor
IN the money market. 1t is evident
however. that merchants and dealers
IN commodities are seeing the neces-
sity of reducing their bank borrowings
through the sale of Inventories at
marked down prices.
~ The weekly statement of the New
York Clearing House banks showed .
decrease of $21 ,oe1 $3.50 in the excess
reserve serve bringing that item down to
$7,69O,350. This drop, however was
more than Offset by a decrease Of
$s;29476,o00 in loans making a total at
the close of the week of S5.127. 139 0o0
M non demand deposits declined S2e.249.-
200 O. $4,164929,ooo while governments
deposits increased to $56,249 900 from
$o4, 404,0 900 q week ago
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
Singer Building to Use
Oil Instead of Coal Fuel
American Shipping Also Fast
Turning to New Type of
Burners. Review Shows

The Singer Building will probably be
the first big O zee building in the city
to turn to oil for steam Two of the
five boilers in the steam plant have
already been converted and the other
three will be changed next week, it is
understood. 1t is planned to start
operations with the use of oil Monday.
About 100 barrels of oil will be-
needed daily for the building, it is be-
heved, and contract has been let
for the first three years.
Because OF the greater advantages
offered by oil as fuel, majority of
the better ships now under construc-
ton In American yards are oil burners.
according to a study of the shipping
situation by the Bankers Trust Com
pany made public yesterday More
IMAM three-fourths of the 1,706 steel
vessels-9,065,97S uot of 11,547,3S6
ddeadweight tonnage--on the Shipping
Boards construction program were
planned as oil burners.
The advantages offered are curtai!-
ment of crew, saving in fuel consump-
ton, greater speed and increased cargo
space. The reduced costs give an i'm
proved competitive ability with ma
mons having lower wage standards
the percentages of saving vary &C
cording to the type of ship. Other
advantages obtained by the use of
oil are the better control of steam
ing. because fires can be started and
stopped instantly, steam raised quickly
and time in port saved through the
greater ease Of taking on oil as con.
trasted with coal. 1t Is also said that
oil does not deteriorate, that it elimi-
mates the danger Of fire from spon-
taneous combustion and Is not sub.
ject to the danger of shifting in g.
rough sea.
1t is calculated that beginning with
1921 100000 barrels of oil year
will be needed for ships now operated
by the United States Shipping Board,
exclusive of any private construction
done after August I. Virtually all of
the ships under private construction
are designed as oil burners.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
British Securities Down

The London stock market has been
undergoing period of drastic liquida-
ton which apparently compares in VOL
ume with the heavy selling that has
taken place on the New York Stock
Exchange since February at is a
long time since our valuation of Stock
Exchange securities showed such a
wholesale decline as that which has
taken place during the last month"
says "The Bankers Magazine" of Lon
don. "1n fact, the occasion is unique
in the sense that not only is the ag-
gregate depreciation heavy, but there
Is not single department showing an
Improvement for the month" Accord
ing to the magazines compilation the
total depreciation in 3s7 representative
British stocks during the period from
March 18 to April 20 was f147, 000, 900.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
Nickel Co. Earnings Drop
Interaational's Balance Shows
Decline of About so p. C..

shahrp decline in earnings WIS
shown. by the annual report of the In
ternationg3 Nickel Company issued YES.
terday: The balance after charge and
taxes for the year ended March 81 was
-: ao,7S4. equivalent, after preferred
81 to 1882 share on the SAL
ea4,ooo outstanding common stock, as
compared with $5,922 62a, or 1922 a
Total earnings were ss,oe4,7s2, a de-
cline Of $6,l2l,642. The gross income
showed drop Of S4,846.O4a.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
InbersolI-Rand Report
Shows Substantial Gain

Net surplus of the Ingerscll-Ean'
Company for 1919 "ho're" srH''"
tial increase, according TO the annsal
statement issued yesterday. 49,.
after charges and FEDERAL taxes va
S5,016,a07, equivalent after prefenee'
dividends to s44.63 a share on the ~
900,035 common stock, against So,ae :,
172, or 5000 share IN the preceaiHS
year.
Net earnings showed decline 1i e
1919 of s2.6S4.212, being placed 81 ~
1862, but Federal taxes were eoa,
siderahly lower, and the net balanss'
showed an increase Of 1889, 73S, resea,
ing total of s5,016907, which sS,
counted for the gain in the sm''H'
available for dividends. .N
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
In w all Street
Ren sons for Optimism

The drastic liquidation Of securities
the past week has brought about
change in sentiment among several
Stock Exchange firms which have been
bearish on the stock market outlook
for several months. Among this
number arc Goodbody & Co.. who say
that "if we were to hazard predic-
ton 1t would be that prices of most
stocks, except, perhaps the luxury
stocks, are now near bottom and that
they will sell materially higher in the
next f.w months. We are moderately
optimistic in spite Of the poor out
look for this years crops" The firm
gives as reasons for it's optimistic at
titude toward security values the fol-
Iowing: Commercial interests have
needed the warnings of the Federal
Reserve Board, the efficiency of labor
will be greatly increased owing to the
slowing up Of business, the throwing
on the market Of goods on which the
banks will no longer make loans will
lower money rates, lower money rates
will mean higher prices for good bonds
and preferred and common stocks, the
proposal to increase railroad rates to
make the carriers self-supporting and
independent, reduced prices of COM
modities and increased efficiency will
reduce the cost of operating railroads,
street railways and other public
utility corporations.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
American Wooden

President Wood Of the America
Wooden Company denied reports that
the management intended to put into
said that while the company has been
Inconvenience by the present rail-
road freight tie-up, it is certainly
doing its best and will continue to do
its best to keep running under the
present very trying circumstances. No
official representative of the American
Wooden Company. so far as I can as
certain, has made any such statement
as appeared in Friday mornings pa
pers with reference to curtailment Of
production by the American Wooden
Company. If any person made such
q statement it was Witout authority"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
Atlantic Fruit Co. Profits

Net profits Of the Atlantic Fruit Com.
pany, after deducting charges and Fed.
eral taxes. were $1,S07, 070, equivalent
to s4.b7 share on the $4,000 shares
of capitl stock Of no par value. The re.
port shows total revenue Of $3,191,6SO.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
Dividends
Ex-Diyidends

May 2s-American Express ....-'.
May 2S-Am. Tel. ~ Cable Co, ..-..::'
May 29-Calitornia Packing Corp. -
May 27--cons. Cigar Corp. Temp. Pr, :
May 23-Crex Carpet Co... .s...-s =
May 2S-Reiaware & Hudson Co. $50
May 29--Diamond Match Co.-......'t
May 2S---Erie & Pittsburgh Ry. 1855,
May 3l--Eastman Kodak Co. 2h e.
May 81 do of ACKNOWLEDGEMENTS. -,
May 26-Endicott-J johnson Corp. . ~
May 2s--Federai Mfg. & Smelt Co. Pr
Nay s1-7Ftsk nubner Co. Cd pr. .,,,-
May 24--Genersi Cigar &c. pf. ........
May 29-Norfolk q Western Ry co 3,
Nay Si-Pierce OIL Corp. ........S III es
Nay 25-Reading Co 1t pf. -;
May 2S-Uni Cigar Stores Co OF Am pi- :
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23

port issued yesterday. This was equiv.
alent o after preferred stock dividends
TO $500 share on the $4,000 900 com.
mon stock, compared with $3.50 a .hsr.
earned in 1918. s""1e
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
An Ohio Bankers Opinion

in the financial district Yesterday, de-
clared that in his opinion too much
attention was being paid to the reports
of price cutting. "Out in Ohio, where
| live" said, 1--WE do not believe that
prices are coming down right away,
because the farmers are barren of
supplies and are buyers rather than
sellers. The law Of supply and demand
will continue to assert itself, and, be-
lieving that the demand for goods is
still greater than the supply, the banks
with which I am connected are still
lending money based on current
prices"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
Crucible Steel

Selling of Crucible Steel, which has
been 80 much in evidence tie past
week, carried the price of tat stock
down yesterday to 121, new low
since the so per cent. stock dividend
came off. Fear that Congress may pass
the soldier bonus bill carrying a retro
active tax of 10 per cent on stock
dividends is believed to be behind the
weakness in Crucible. Early in the
year the company authorized an in
crease in its common stock capitaliza-
ton from $25,0o0,OO0 to s75,oO0,O0O,
the intimation being made that the in
crease would ultimately be given to
shareholders in the form of stock divi-
dends.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
London Money Market

LONDON, May 22.--Bar silver, 5ead
per ounce. Bar gold, 1oss I'd. Money.
oA per cent. Discount rates: Short
and three months bills, 6 13-1606A ner
cent. Gold premiums at Lisbon, 40.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
Steel Workers Laid Off

Plans for 20 per cent reduction in
the Office force of the Youngstown
Sheet & Tube were announced yester-
day by President j. A. Campbell The
did not warrant it, and our heavy over
carrying our full force when conditions
will not permit it any longer.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
Mexican Oils In

Mexican oil issued moved up sharply
yesterday following publication Of the
report Of President Carranza's death.
The Pan-American Petroleum A, in
which pool operations also were a fac
tor, after opening 1ss points higher, at
9TH, advanced further to 1885, and
finally closed at 97ss. The B stock was
less active, but nevertheless gained a
full point in the two-hour trading ses-
sion. The advance in Mexican Petro-
leum was only fractional. The state
ment of General Oregon to The Trib-
une that he favored establishing an era
Of friendship with the people Of the
United States was regarded as favor
able stock market factor.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
Federal Reserve Bank of New York
RESOURCES

Gold coin and cer;s..o May Mav1A
fund.-
Gold with 1io21769 S954965
Observation-Disclosures. 41,390300 43eO.300
F. R. agent $241155ss s2o2o5ses
Gold 2S4ISbS6e
2SSs39OO 27,0O0,0O0
Legal tender notes Silver etc $54227s4se
106y88s,700
Bills discounted sses,7s22e2 ss1e7,1a7
All others war oohsati.. e1s1es 7h
in 2l86572o24
" ~TN A0'' T1,529,31S
II snvo o19 on h $oe5b42 ,,0o5 lao Az
US. Victory
of indeb
Observation-Disclosures. 7b3b2s76 7S,2s9,117
Bank premisess ~ $o37 5151ss $os4ss4see
dedua. ozsAs2 32843oo
a. -O-'''''o' 1oo'oao,os%
nanK no'ss 31ae
" ~ -~O'''' '''''''''''' 978267
~ ''S $1,S6s,ls39 $1so2o12s12
c..;., ;, LIABILITIES
Snrnins pa'o s245bs 900
Cover
725,214293
other
~ ~ ep0'''S' '''''''.....- 42s6744s
Total
38269800
'''''''''''''''''''.'.. Z3S270s6 22,686O42
Ro tGeat nan t $lsesIs3s17 $eo2ol2s2
note liabilities combined 1ooo
ate da.
Quoting 1919 gold on F. R. notes
Contingent liability bills purchased Tor $3.50 1862
es" correspondents s1e,s77b s1s,ls7sa
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
New York Dock Report

The New York Dock Company earned
a surplus after all charges of 1921
944 in 1919, according to the ANNUAL re-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23
Contract Let for Wireless
Station at Rocky Point. r., I.

The contract for the construction of
tbs rev wireless station to be built By
the Radio Corporation at Rocky Point,
L. l., has been awarded to the j. G.
White Engineering Corporation, 43 Elk
change Place, it was announced yester-
day. Work will be begun Immediately.
The station. when completed, will
have diameter of more than three
miles with twelve sets Of antann9,
strung to seventy-two-foot self-support-
ing steel towers 400 feet high, set up a
mile and half away from the central
power house. and will probably cost
about $10,000,0O0. 1t will be divided
into five units for communication with
Arghentina, France, Scandinavia, Ger
many and one with Italy and Poland.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-23

The annual meeting of the Anglo Amer,
can OH Company will be held in London
June %. Shareholders residing In America
ara entitled to astsnd In person Is their
share warrants are deposited with the
Guaranty Trust Company fourteen days be-
fore the date OF meeting.
The midland journal. (Rising Sun, Md.) 1885-1947, 1920-10-08
NEW BRIDGE.

Sept. 80
Mrs. Sophia Coulson has been
quite i'll at the home of her daughter,
Mrs. Harvey Tome.
Granville Riley and family, Ken.
nett Square, were the Sunday guest.
of friends and relatives here.
Misses Lula Lindamoed and Mabel
GRAPHICAL visited their homes one day
last week.
Tyler Fulton, Glen Mills, is spend
ing an indefinite period at his home
here.
10 M. Saunders, Liberty Grove, was
the weekend guest of Slater Pyle
and family.
Revival meetings will begin at
Porter's Grove M. P. Church on Oct.
10th at 1880 p. m.
The festival held at New Bridge
school~was quite a success, the net
proceeds being $40, which will be
used for the benefit Of the school.
Mr.. and Mrs. VIM. Sterrett have
recently returned after spending a
pleasant visit with Mrs. Sterreti $
sister at Cambridge, Md.
The midland journal. (Rising Sun, Md.) 1885-1947, 1920-10-08
COLORA.

r,va,va dollars was CLEARED at ME
sao;aihald ~ MI pleasant last week.
r1aranca carvin has 3 cron Of sew
aroI hundred bushels Of notatoes.
Tobn Iannas. is-attend;ne Tome
cahooI
M MorT e;i, ID con ,nad "a he'd
- har bosa IN West NotN,neham
49,. ,,,4,,rias ~ ustained. ~ falIine
~ ..o,.a ,ast E,;aau nigb5
= &C., pras.on baa hoan bonser
.,,s,, ~ n,aasIos
Tahn n p,arco hos ;nonrovad his
.s,saaaa r,;th arotrar rorcb
NJ Ta,,r rTo rvo,y MI, hawai- NH.
~ $3.50 ha, narsonal nronertv On
r - s..aS astor,oo, n. RoNrot,
sr:,, :, - ,,,to arc house vacated \,
ns- rya.au and win he caratakar q,
=. {. ,,,aa4;,, horsa ard hrrv
s.s
20 n1oc.,,,o,o, ho has baor
- 49,. e ~ &C., 80 ~ r,o+hor
~ ~ Morul,a,gh hos cola III,
- s.ru,;,a ;r,nIar6,ts !,
9 49,. p,,.,,ns - bsa ,,ovod !,
~ 800 raoataa hv M Mccul
$3.50, -
~ NJ. p,,,,n p,ss;raar l. an,orta;n
z - ~ S,.na 80
-. No. pa,,o Nash;t+ q az .,,ast .
M r,,an M Tosb and dS...xhtar
80 NJ. 49,. = -
The midland journal. (Rising Sun, Md.) 1885-1947, 1920-10-08
ELK MILLS.

The stork visited the home of Mr.
and Mrs. Widdoes on Sunday anc
left fine baby boy.
r. r. Kearney, who has been
spending some time with his uncle
James M. Tosh. near Rising Sun. has
returned to his home in Elk Mills.
The Kay & Todd Co. have closed
their weave mill here owing to the
fact that there is no market for their
product at the present time.
The Baldwin Manufacturing Co
have placed a new Commerce truck
in commission to do their hauling.
Mrs. Marie Kincaid and Mr.. Jona-
than Todd were married on Sunday
The midland journal. (Rising Sun, Md.) 1885-1947, 1920-10-08
CALVERT.

Your correspondent wishes to
make correction of an item that APP
peared in our notes of last week, in
which it was stated Mr.. Eric John
son had assaulted and threatened the
life of his neighbor, Howard Brown.
We were misinformed as to the facts,
as Mr.. johnson did not threaten Mr..
Brown with his life. We have no
wish to do Mr.. Johnson an injustice
and are glad to make the correction.
The midland journal. (Rising Sun, Md.) 1885-1947, 1920-10-08
TRIBUTE OF ESTEEM.

We, the women of The Home and
Foreign Missionary Society of Zion
Presbyterian Church, desiring to
keep in remembrance the life, loving
disposition, and christian character
Of our last Charter member and Co.
worker,
MRS. RUTH G. CARHART
who was ever ready and willing in
all our missionary undertaking
make mention of this upon the
minutes of our Society as a, memorial
and tribute to the great respect we
had for her, feeling that in her death
we have sustained very severe loss
She was indeed most lovable char
acter. one of earth's noble women, in
whose spirit there was no guile; one
who lived in constant communion
and fellowship with the Father, con-
scientiously and willingly performing
IN His service every duty Incumbent
upon her to the glory Of His name
asd enduring with patient longsutfer-
ing, like her blessed Lord and Mas
ter. her long trial and afiiction
Having served our organization for
the space of forty-three years, we
naturally looked to her for guidance
and inspiration, valuing at all times
her foresight and sound judgment.
AS we now bow before our Lord and
Maker in humble submission to His
Divine will concerning us, we com.
mend ourselves into His safekeeping,
beseeching His Divine guidance in
the future. And moreover our
hearts go out in tender, loving sym
pathy to her home circle, praying
that the God OF all comfort may
bless and sustain them according to-
the riches Of \grace in Christ
Jesus our
The midland journal. (Rising Sun, Md.) 1885-1947, 1920-10-08
PUBLIC SALE
HOUSEHOLD GOODS

HOUSEHOLD GOODS
Intending to relinquish house
keeping. will sell at the home OF
the late John Harvey at Colora
Maryland. on
SATURDAY, OCTOBER 8, 1920
At O'Clock
the following personal property
Three-piece bedroom suit, oak side
board. 6 chairs, / rocker, extension
dining table, all new; also, cup
boards. tables, chairs, settee, Q bu-
reaus, good cook stove No. S, oil
heater. dishes, silverware, carpets,
mating, mattress. feather bed, pill
lows, quilts, towels, household linen.
Some antique pieces of furniture
in AL condition. arm chair, card
table, guilt chair.
Cooking utensils, glassware, jars,
lamps, pictures, clocks. crooks, pre-
serves. jellies, butchers outfit com
plete, iron pot. grinder. lard press
knives, etc Saws. axe, shovels,
grindstone. rakes, mattock, step lad
der. horse blanket. lap spreads, fly
nets, in good order; rubber carriage
apron.
Terms Cash.
w. d. Ewing, Auct.
MRS. ANNA GAMBLE HARVEY.
The midland journal. (Rising Sun, Md.) 1885-1947, 1920-10-08
PRIZES OFFERED BY TRUST 90.
Encourages Raising OF Pure Bred
Stock

Encourages Raising OF Pure Brc6
Stock
In keeping with their progressive
policy and knowing that pure bres
stock is one of the finest assets Ceci
County can have, the Elkton Banking
and Trust Company will offer at the
Community Fairs this year the fol-
lowing prizes:
Calvert Fair. October 16th-A
pure bred Registered Sow Pig, the
breed to be selected by the winner.
Appleton Fair, October 21st-A
pure bred Registered Sow Pig, the
breed to be selected by the winner.
West Nottingham Fair, October
29th-A pure bred Registered Sew
Pig, the breed to be selected by the
winner.
The winners of the above prizes
shall be governed by the following
rules:
The winner of the pure bred pil
must keep same for breeding pur-
poses and it must be bred to a pure
bred. sire OF it's own breeding, ane
the papers must be produced at time
OF breeding by owner OF sire. The
winner of this pig binds himself to
give the winner of Second Prize his
choice of sow or boar pig from the
first litter.
MI
The rule concerning the pig will
govern the prize in each show.
The Officers and Directors OF The
Elkton Banking and Trust Company
are to be commended upon the>spirit
shown in the giving of these prizes;
and, understanding that it will be
followed up with some very con-
structiye work for pure bred stock
in the County and encouragement tc
the Boys Clubs-our future farm.
ers-Cecil County can we'll adopt the
slogan suggested by Irwin T. Keplcr,
Treasurer Of the Company, "The
Scrub Must Co."
The midland journal. (Rising Sun, Md.) 1885-1947, 1920-10-08

The United States Postofffce De-
partment will hold a sale of 100
motor trucks of from one half to five
and a half ton capacity on the Ok
ford Fair Grounds Saturday, October
18th, The trucks have been in the
government garage at Oxford for
some time and put in first class con-
dftion for this sale. The sale win
be in charge of S. T. Freeman & Co..
Auctioneers. of Philadelphia.