davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1920-06-24
JACK OF GUIDANCE
 CAUSED IRREGULAR
 WALL STREET LIST
Call Loans Ranged Between Eight and Eleven Per Cent on Reduced
 Borrowing
By Associated Prass

New York, June 23.-Lacking guid- ance from any constructive quarter to- days session of the stock exchange was opening to the apathetic close. The ticker was motionless for long inter tals and many issues which usually contribute to the days business were relegated to obscurity.
 Financial, industrial and related con- sideration seemed to play no part in the days operations and pools evident ly found it unprofitab1e to continue their recent tactics in selected special ties.
 Steels, equipments, oils and several of the food issues furnished the only noteworthy movements, notably Cruci- ble, American Car. Baldwin, Mexican Petroleum, Sugars and Corn Products These and kindred stocks finished at variable advances.
 The money market reflected the gen. eral inertia, call loans repeating their recent low and high quotations of to II per cent on reduced borrowings From 1-2 to g per cent was again bid for time funds, but offerings were negligible.
 Apathy extended to foreign exchange or the international money market The London rate reacted moderately as the buying power diminished, with concur rent easement of French and Italian quotations.
 Reports and other advices dealing with the railroad labor situation were confusing, but indicated for the most. part, that the strike is on the wane at this and adjacent centers. These dis turbances, however, have again crip- pied production at eastern steel and iron mills, according to trade authori- ties.
 Losses of large fractions to a point were made by bonds of leading rail- way systems, but Liberty Bonds and the foreign group were steady to firm. Total sales. par value, aggregated $l2,- 400, 900.
 Old U. S. bonds were unchanged on eall,
The Birmingham age-herald., 1920-06-24
New York Futures h., A.s.n..tnL n.a..
New Orleans Cotton By Associated PreSs

New Orleans, La. June 23.-Wide advances and equally wide declines featured the trading in cotton today. with the net changes for the day in- significant. the active months on the close being unchanged to three points down, compared with the final prices of yesterday Late in the session the market was trading AS to 61 points higher than yesterdays close, but the rumor that a private bureau was out with a bearish report on condition, 72 per cent of normal, indicating a crop of 11,440,0 bales, caused the heavi- est kind of selling. which broke the, market violently
 Around the opening the trend wast higher on heavy rains in the western belt and prices advanced to levels 25i to Al points over yesterdays close.i The weekly crop reports were con-i sidered favorable. on the whole, andi they checked the upward movement for awhile but expectations of moDe rain in the belt caused renewed buy ing, with the heaviest demand coming on the market late in the session. At the best of the day July stood at 36H2c and October at 33.50c The close was at lowest levels, where July stood at 36.22c and October at S3.50c.
The Birmingham age-herald., 1920-06-24
Coffee Market nv Aeenr;atad prAss

New York, June 23-There was a re- newal of liquidation in the market for coffee futures at the opening today First prices were 6 to Il points lower, and active months sold 10 to 14 points below last nights close during the early trading, with July touching 13.6Sc and September 13.55c Lower Brazilian cables were a factor. but there was con- siderable covering at the decline and pa Tt of the losses were recovered. with July selling up to 13.75c and, September to 13.6Tc. The close was 6 to points net lower. July, 13.74c; September, 1361c: October, 13.64c: December. 13.Toc: January, 13.73c: March, 13,7sc; May, 13.s2c.
 Spot coffee dull Rio Is. 14kc; San tos 4s. 221A e 1231sc. No fresh offers were reported in the cost and freight market. Those received yesterday in cirded Rio Is at 13.40c to 13.S0c. Amer ican credits.
 The official cables reported a de- cline of 150 reis in the Rio market and of 50 to 250 in Santos futures. The rate of Rio exchange on London was unchanged and the dollar buying rate 10 reis higher. Victoria cleared 1000 bags for New Orleans and Santos 39.000 for New York Brazilian port receipts, 2e.000 Jundiahy receipts 5000 The weather was fine in all districts of Sac Paulo. with minimum temperatures of 4s to AS degrees.
The Birmingham age-herald., 1920-06-24
GE ,1T|NG AWAY WELL
 COTTON TOOK SLUMP AND CLOSED DULL.
The Final Figures Were Barely Steady at Seesaw Quotations on New
 York Market
By Associated Prsss

New York, June 2S.-Early advances on unfavorable weather and crop re- ports from the southwest were fol- lowed by renewed weakness in the cotton market late today and the close was barely steady at an advance of Is points to a decline of points. The advance carried October contracts up from 33.56c, the low point, of yes terday to 54.12c, with that delivery closing at 33.62c, compared with 33.60o last night
 The market opened firm at an ad- vance of to S5 points on relatively firm cables and reports of rains in Texas. There was active covering at the start and the market sold about s5 to 42 points net higher right after the call. Reactions of several points
 followed and there was some selling on the weekly report of the weather bureau. indicating that the crop had improved over the belt. There were unfavorable features in this report, however, and prices firmed up again during the early afternoon on the de- tailed weather reports showing rain fall, which ranged up to three, inches in some of the largest producing sec tions of Texas. July advanced to 36.60c and December to 33.06c, mak- Ing net gains or 42 to 60 pomts, but the demand from shorts became less active later and the market broke sharply in the late trading, when there were rumors of bearish private condi- tion figures.
 Last prices showed reactions of some 3S to 50 points from the best and some of the later months made new low ground in the last few minutes. Liverpool was a buyer of July here, on the late decline and there was some trade buying during the day but brokers said the bulk of the demand came from recent sellers.
The Birmingham age-herald., 1920-06-24
PERMITS ISSUED FOR
 SIX NEW BUNGALOW

Building permits for six or ssors houses to cost $2,0oo each were taksn au1 yesterday afternoon by the Birmushssai Realty Company
 The houses will all be one-stoIS a4th tile roofing, and will be built in disrer ent parts of the city. The first will ae built at Highland avenue and south Thirty-frst street.
 One of the houses will he an at snstive bungalow on the boulevard in Nr8ood. The other four will be built or south Thirty-second street, between I've th &ge Thirteenth avenues. Work upon he six houses will be started at once.
The Birmingham age-herald., 1920-06-24

Panama 3s. registered. bid ..... n
 Panama Ss. coupon, bid ......... 77 American s. X R. 5s. bid ....... 77is American T. X T. cv. 6s ........ 93% Anglo-French 5s ............. 9S1s F Atchson gen. Is ........ 7O24 < Atlantic Coast Line 1st As ...... 71S < Baltimore e& Ohio cv 4Iss .. 59ls d Bethlehem Steel ref. 5s ...... 7S Central of Georgia cons 5s. bid. 771sg Central Leather 5s, bid ..-..... gl Chesapeake & Ohio cv. 5s ...... 74 Chi. B. & Quincy joint IS 9SH Chi. Mil. & St. F. cv. 41es ...-.. 62H Chi. R. 1. & Pac. Ky. ref. As 64A City of Paris 6s ,......... s2A Colo. & Southern refI41zs. bid. 67 Denver & Rio Grande cons. 4s 6l, Dominion of Canada 5s 193D. . S6~s Erie gen. As ....... ssls Illinois Central ref. As .. 6Ss4 Int. Mer Marine 6s ......-..... & Kansas City Southern ref. 5s, bid 65 Liggett & Myers 5s, bid 7S Louisville & Nashville un. Is, bid F76A Missouri. K S T. 1st As, bid .... h521s Missouri Pacific gen. As ...... i51% New York Central deb. 6s ..... sS7a Norfolk & Western cv 6s ...... 496 Northern Pacific As ........ E7OA Pennsylvania gen. 5s ........ FS3 Reading gen. 4s ............. 75% Republic I. & s. 5s (1940) ...... S5 St. Louis & San Fran adj. 6s .. 60A Sea aboard Air Line adj 5s ..... S3N Southern Bell Tel. IS ....e 79H Southern Pacific cv. 5s ..... 941s Southern Railway 5s ........-..f T97s Southern Railway gen. As ......s 56s Texas Company ev. 6s. bid. ....- 104 Texas & Pacific 1st ...........- 76& Union Pacific As .............-. " United Kingdom of Great Britain
 and Ireland 5hs d93D D...-.. S4B U. S. Steel 5s .............. Ss1s Virginia -Caro Chemical 5s. bid. s1&. Wabash lSt oz Wilson & Co. cv 6s ........i.... S5
The Birmingham age-herald., 1920-06-24
Metal Market
By Associated PFess

New York. June 25-Copper dull: cleo trolytic spot. June and July.( lSs4mlsc' August and September, 19a1sAc Iron steady: prices unchanged Tin steady; spot and June, Soc; July, 49-5Oc. Antimony, Sc. Metal exchange quoted lead nominai' spot and June offered at sc Zinc quite' East St Louis delivery, spot, [ 5oc nid-
 A. London: Spot copper, es6 Is Cd; fu- tures fSS lis Cd; electrolytic spot, Gl9O; futures. e1o5. Tin, spot e25e 15s; futures, e2Go 5s. Lead, spot es2 15s; futures, e34. Zinc. spot, s4O los; futures 942 5s.
The Birmingham age-herald., 1920-06-24
Liberty Bonds h.. a...s.4.a nro.s
Money Market
 By Associated Press

New York June 23.-Mercantile paper, 7s4 Exchange irregular. Sterling 6O-day bills 393b: commercial 60-day bills on banks, s931h, commercial 60-.day bills. 3 93; demand, 3.9734; cables, 3,es1s. Francs: Demand, S.44; cables, s. 46. Belgian francs: Demand, S.s7; cables, s.S9. Builders: De- mand, 2.71; cables. PIP. New York ex- change on Montreal, 121s per cent dis count. Government bonds steady; rail- road bonds easy. Time loans strong; 6o days 90 days and six months, S12.
 Call money strong; ruling rate, s; bank acceptances, SIS.
The Birmingham age-herald., 1920-06-24
Live Stock
(Union Stock Yards.)

NUHIUH SlUCk IdTUs.J
 Fed steers:
 Good to choice, s10.00a1i.O0; medium to good, 9.o0Qs100o; common to medium. -$S. .O0@9O0
 Grass cattle according to weight. quai- ity and flesh:
 Steers, $So0@10.0o; fat cows, $700G9 %: medium cows. s6.O0Q7.o0; cutters, 5000 500; canners, t4o0Q5.0o; heavy bulls. s7.O0 CISCO; light bulls, $6.001700; oxen, $4.0oQy 500; fat yearlings. s7,oo@Soo; medium yearlings. $6.oo@7.0o; vealers. SS.00Q11.0o. Hogs
 Choice corn fed hogs, 1S5 to 165. sl4; choice corn fed hogs, 90 to 135, sl2 light pigs, 90 pounds down, s10; best heavy rough hogs SIP; half fat rough hogs, $Y1 10; soft and oily hogs from Ito cents pound less than above prices.
The Birmingham age-herald., 1920-06-24
Intellect Disdained

From the Washington Star
 q have become convinced, remarked young Mrs. Torkins. that there IS ID chance for brains these days.
 What has convinced your
 "f,harley knows more about horses than anybody I overheard talk. But the horrid race track people won't let him make bit of money.
The Birmingham age-herald., 1920-06-24
Louisville Live Stock
Chicapo I.iyr Stock,


 Chicago June 23.-Cattle Receipts, S,oVo Heavy beef steers closed steady with Tuesday.
 Top yearlings .........-.......s... 1850 Bulk steers, al weights. ......... 14.e0d1s.so
 Fat cows and heifers strong to 25c higher: canners, cutters, fstokers and calves steady; common. light bulls lower; others steady.
 Hogs: Receipts, 22,00o:f opened strong to 15c higher: closed weak. fully 25c lower than early.
 Early top ..-...-..t..... .-.-.--'..-S io'-" Bulk light and light butchers. 15y60dlS.l5 Bulk, 25O pounds and osaer....... 14.50@l5.So Pigs steady. Bulk .......-..-....'.,. ........ l1-tou iS'ao Sheep: Receipts, Il ,oo0:t25c to soc higher; no western lambs here.i Choice native lambs ..--........s 170O Bulk Standardization. IS. 00n17. .Vo Choice yearlings ........-........ 49a. Oregon wethers ......-........ 900@ .925 f,boice ewes .. SCu Bulk .......... TOO ITS Breeding ewes ................ s.OO@lO53
The Birmingham age-herald., 1920-06-24

New York, June 23-(Special )-About three weeks ago an American banking syndicate, at the head of which were J. r. Morgan X Co. and the Guaranty Trust announced the successful marketing of bonds issued by Belgium for the nur- pose or taking up acceptances which were que asgregating S5O0o0,000 In fact. the offering was oversubscribed. This state meht was accurate so far as the banks Which subscribed to the offering are con cefneu But there appears to be some reason Tor the suspicion that these bonds i tempting as are some of the inducements set iorth in them, have not been readily apsorbed by the investing public If this De true, 1t is not to be explained by any doubt as to the credit of Belgium but as illustrating the reluctance of American capltai to make investment at this time in foreign securities
 Ailu Vet those who are of high expert authority have often said that in no other way can the enormous indebtedness Of Great Britain and Europe to the lnlted States be paid, and furthermore In no other way oan the very large trade balance in favor of the United States De Hquldated than by the purchase of foreign securities, or else by very heavy imports into the United States of com moditles made in Great Britain and Eu- rope or in the third place by the send ing of gold to the United States
 But It is impractieable, even impossible, to remit gold to this country in settle- ment of indebtedness. There is not enough gold in the entire world available for that purpose, In fact. there could not be mined a sufficient amount of gold Tn many years to pay this indebtedness Therefore, either a large part of this debt must remain outstanding fundec into bonds or else there must be a yer . heavy export of American capital to f. n eign countries
 John H. Williams who is assistant nro. lessor of international trade and Etis. tics in Princeton University, has / been giving careful study to the ques fon ot the export of capital. He discovered early
 in his investigation that the Chief off set against our enormous surpl' ass of nner- chandise export while the war was in progress was the export of orr own cap ital to foreign countries.
 ONE EFFECT OF CAPITAL
 Few of our people ref1fize what the enormous amount of capi cal exported dur ing the war period, that is to say, from July 1914, to DecerAber 31. 1918. was Professor Williams believes he is justified in the statement that the total amount Of Amercan capital which was exported in the war perioa was $l0,s4o coo
 Thisfexport of/capital was represented in the first place by the marketing in the United States of America securities. When the European war began the largest estimate of our indebtedness represented by securities held by foreign investors was $5000. .00D0o0. Other estimates did not place the amount in excess of $4.000 O00, 900. Whatever the amount was. the securities came back so rapidly that the wonder was that the effect of the dumping upon the American market was so slight. Very
The Birmingham age-herald., 1920-06-24
Every Little Bit Helps
By Associated Fress

i, Minneapolis, June 23.-A lower wheat market the first few days this week was responsible for . decline of 20 to 20 cents a barrel in the price of flour here today. At the mill where the quotation for family patents was down 20 cents flour dropped to $14 barrel. and 14.55 was the price obtafned by the mill that sold flour at a 30-cent re- duction.
The Birmingham age-herald., 1920-06-24
London Money. Ru Assoniafed PrasAl

London June 23.-Bar silver, 5f5s pence per ounce; money IA per cent; discount rates, short bills 6aa per cent three months bills, 6 11-16 per cent
The Birmingham age-herald., 1920-06-24
New Orleans Futures
Spot Cotton

New Orleans, June 3.-Spot cotton quiet and unchanged sales on the spot, 300 bales to arrive, so Low middling, 30 soc: middling, 40c; good .middling, 44c; receipts 1,2S4; stock, 32S052.
 New York. June 23.-Spot cotton quiet; middling, 38. 25c.
The Birmingham age-herald., 1920-06-24
Meats

D. s. Clear Bellies-20B623c D. S. Rib Bellies-201aQ2S1sc Pure Lard-23xc Hams Regular. 41c; skinned, 42c. Pork Loins--2Sc. Bacon-40M55c.
The Birmingham age-herald., 1920-06-24

New York. June 23.-There was con- tinued weakness in the raw sugar mar ket today and prices declined to the basis of 17Ac for Cubas. cost and freight equal to 1S-S1c for centrifugal. There were no sales of Cubas. how. ever, but there was small sale of full duty sugar in port at 171sc. eff. which is about on the basis of TIA c for cpbas, although it might even be possi- tle to secure sugar below *his level
 but refiners were not very xio4s and
The Birmingham age-herald., 1920-06-24
Daily Financial Gossip
BY HOLLAND.

little notice was taken of the return of these securities. Professor Williams has discovered that the return of these se- curities. of which enormous amount 4 were sent here in the first months of t se war, continued for about two years r zen there came a falling off probably due to the fact that almost all of the syail- able American securities which ha been held by private investors abroa 4 have been exhausted. In other wo' n1s the United States absorbed by the export of capital to Great Britain and fo Europe substantially the entire amc xint of the indebtedness which stood sainst us at the beginning of the Europ can war.
 THEN CAME PRIVA TIE LOANS
 Alter that many priv sre loans were gloated in the United tates, the aggre- gate of which is of cc Arse impossible to learn Transactions of this kind, how ever, representing u <, export of capital were practically en Aed when the United States entered the, war Then the gov ernment itself, faving been authorized by Congress, ma ke direct advances to for eign governmel it's, and this movement Professor vii Eams says expanded to an extraordinary /size during the war.
 In 1919 the Government advanced lit tie over 800 .000o00, and that brought the total up tcycs9 $50, ,000,000 This is represent ed by de mand notes now held by the
 
 which fhterest is steadily accumuating.
 Will tnere be further export of capital? The Secretary of the Treasury, who is now Tnited States Senator Glass, and his succ Hssor, Mir Houston, have said that there will be no further advances to for e' En governments by our own government, Sj that the export of capital in that form has ceased.
 Professor Williams estimate that | American "a nital exported since July 1914 amounts to about $l3.0o, 100000. In other words we have exported capital equiva- | lent to about one-half of the indebted ness which our people are now laboring 1 under. and which is due to the charges entailed by the war. On the other hand 1 it is estimated that about $1,W0000W0 or 1 foreign capital is in the United States. The total interest due to this country l is approximate $600,000,000 year This | interest must be funded or otherwise | cared for for if it be neglected it will within a few years amount to perhaps one-half of Europes indebtedness to us. This interest alone exceeds, according to | Professor Williams, our net outgo repre- sented bv invisible item, such as freight and other charges
 HISTORY IN THE MAKING 1 This very large volume of foreign ln- vestments has been So suddenly devel- 1 oped, and upon so great scale, and also consummated within so short tlme l flat there is nothing in the history Of the civilized world as far as finance and I trade are concerned which compare with it. This, it is believed, should be borne 1 in mind by those in Congress and by the new administration at Washington whether it be republican or democratic, when the attempts are made, as they will l be made to restore stability and bring about normal trade and credit relations.
The Birmingham age-herald., 1920-06-24
Meal and Feedstuff

Mixed Horse $S5@95. Old Style Hulls-$26. Corn-s2 40 bushel. Corn Chops-$4.75. No. 3 White OoatS-$1.45 per busheL Shortss75. c. S. Meal, per cent--$75 s Hen Feed-$4 50 per 10o-lb. sack. Economy Dairy Feed-$S0 Choice Pea Green Alfalfa-$50. Wheat Straw-s25. Timot othy-$55. Perfect Hog Feed-s82.
The Birmingham age-herald., 1920-06-24
Potato Market

Chicago. June 23.-Potatoes dull. Southern Triumphs. sacked, $7@750: Cobblers, barrels, s$1250@13.
The Birmingham age-herald., 1920-06-24
Cash Grain

BY Associated Press
 Chicago, June 23.-Wheat: No. red s2.9o No 3 hard. s2.76. Corn, No. ? mixed s1.s3@1.S4Hs: No. yellow, s1.S31a @1.s512. Oats. No ? white, s1.17 @11S1a; No 3 white. s1.12@14s Rye. No. 9 s223. Barley s1.49m1.53. Timothy seed. s1O@12 Glover seed, s25@35. Pork. nominal. Lard $2o.so. Ribs. s1.25 @1s.25.
 St. Louis, June 23.--Wheat. No 2 red. winter. s2.S2@ 2.s3 No. red. win ter. s2.7s. Corn. No. white, $1.s7@ 1.99; No. white. $1.s5: July, s1.82; September, s1.72%. Oats. white, $1.21: No. white. sl.19h @1.20H; July. $1.04h September, s6hc
The Birmingham age-herald., 1920-06-24
Rice Market

New Orleans, June 23.--Rough rice: No sales; reeeipts.T 2s0 sacks: millers' receipts. same.
 Clean rice steady: sales. Japan. 1s pockets at Sc: Blue Rose. 80 pockets at age.
 Bran and polish unchanged; receipts 1.12s
The Birmingham age-herald., 1920-06-24
Chicago Futures
Produce Market

Butter steady; creamery frsts, 521at 57Ac. Eggs irregular; fresh gathered frsts. 42d45c. Cheese firm; average run, 251adI27c Live poultry steady: broilers, 45667c. Dressed quiet; prices unchanged. Chicago. June 23.-Butter firm; cream cry, 43m56c. Eggs unchanged. Poultry, alive higher; fowls, 3l1ac
The Birmingham age-herald., 1920-06-24

with cotton. but later turned easy un- der renewed liquidation induced by the heaviness in competing oils and greases. Closing prices were IS points lower to 5 points net higr.er. Sales, II, 700 barrels. Crude oil was easy. Prime crude, 13@14c prime summer yellow spot, s15.70@16; July $15.s0; $16.70; December. $16.45; prime winter yellow and summer white, nominal.
The Birmingham age-herald., 1920-06-24
Hides and Tallow

No.i1 Green Salt Hides-14c. No. Il Fresh Green Hides--11c. INo.{ Green Salt Hides-13c. fNo. 2 Fresh Green Hides-10c. < No. Dry Flint Hides-2Sc. No. Dry Flint Hides-27c. fNo. 1 Dry Salt Hides-25c. fNo. Dry Salt Hides-24c. Sheep Skins-25c@si.25.
 Horse hides-s2. 5005.
 Goat Skins--60075c.
 Hog Skins -25150c.
 Taliow-SM10c.
 Beeswax 340b35c.
 Clear Washed Wool-50@55c.
 Clear Grease Wool--30435c.
 Bury Wool-15G1Sc.
 Ginseng (Wild-$Sd9.
The Birmingham age-herald., 1920-06-24
Naval Stores oxnrs

Jacksonville, June 23.-Turpentine firm: 1.55 sales. 99; receipts, 255; ship ments, 24; stock, 7,s67. Rosin. steady; sales, 1,742; receipts. 7S7 shipments, 1,7S9; stock, 46.915. Quote: B, s1o: p, $15.75; E. F, G, H, I, K, M, IN, Wg, wv, s16.05
 Savannah, Ca, June 23.-Turpentine, firm: 1855; sales. 1sS; receipts, 4SO; shipments. 66: stock 4.496. Resin. firm ! sales, 1,014; receipts, 1,s54; shipments, 2,792; stock, 19067
 Quote: B, SIC; D, s15.40; F, F, G, H, Tx, M, Y Wg. Wv. $15.so@l6.o5.
The Birmingham age-herald., 1920-06-24
MARINE NEWS
By Associated Press

Z New Orleans, June 23.-cleared: Oar den, Hamburg via Sabine; Fort George. Port Arthur; Koyo Maru {Jap), Kobe and Yokohama via Balboa and San Francisco3 Lake Gorin, Antilla and Cu- ban ports; Steel Age, Buenos Aires via Mmtevideo; Tipton. Tela.
 Port fEads, La. June 2s.-Arrived: Schooners Cristohal (Span.) Havana.
 Sailed- Ceiba (Hond). Ceiba Coahuila f(Mexa Progreso; Corning, Tampico; Pi- oneers Tampico.
 Mobile, June 23.-Arrived: Sagua (BrD, TSagua LaGrande; Tulso Gin tow tug South American). Port Arthur. Sailed: Schooners Taguna, Cardenas; 3Robert R Murphy. Milville, Fla.
 were out of the market for the time being.
 There were no changes in refined, which are quoted at 22 to 24c for fine granulated. There was a fair inquiry reported and refiners are still pretty well sold up although reports from the west would seem to indicate that the territory was pretty well supplied, as a large western refiner announced that he was alloting small amounts as Tar east as Chicago. There were further sharp declines in sugar futures at the opening this morning under continued liquidation, with opening prices 70 to 100 points lower on active positions but the market was believed to be in better technical position, after so se- we're a decline, and there was sharp rally on short covering with prices gaining half the early loss and closing at net declines of 20 to 30 points. New crops were less active and price move ments not so violent and after opening 10 points lower, rallied and closed 5o DC ints net higher.