davidaulloa/AmericanStories huggingface dataset:
The Little River news. (Ashdown, Little River County, Ark.) 1897-current, 1920-10-27
One=Crop System is Being
Abandoned in Hampstead

Hope, Oct, 26-(SpeciaD-If south
west Arkansas is to be resurrected
from an agricultural depression the
farmers must give up the one-crop
idea and practice general crop diversi-
fication to the extent that food for the
family and feed for the stock will be
produced on the farm and that the cot
ton grown will be a surplus money
crop. Arkansas farmers are unusual
ly good losers but when they face a
situation wherein they are forced to
dispose of short crop at price that
is far below the cost of production it
is time to apply little common sense
to the farming business and that is
exactly what they are going to do in
the Hope territory another year.
Urged into action by dire neces>
sity to save the country from threat
ened poverty the bankers and the busi-
ness men are going to join with the
farmers in an effort that will bring
relief 1t is being pointed out by the
agricultural department of the cham
Der of commerce that farmers in the
Hope territory may plant number of
crops that will yield a better rturne
crops that will yield better return
than cotton even at high prices, and
that the farmer must systematic his
business if he would compete with the
manufacturers and other branches OF
business. The greatest treasures OF
this region lie hidden in the untitled
acres, for the sandy loan of his re-
gion will grow tomatoe, radishes,
gion will grow tomatoes, cabbage,
cantaloupes and melons. Either one
of these crops, year in and year out,
will yield return that will double the
return from a like acreage of cotton
and with less work. Also the dairy
ing industry offers an avenue of es-
cape from depressed conditions in cot
ton circles. It is we'll known fact
that one acre of bermuda grass pas
ture will run four head of cattle thru
ten months grazing season and feed
crops may be grown cheaply here as
anywhere on earth. Dairy cows pro-
vide an income every month in the
year.
Farmers who experimental with po-
tatoes, cantaloupes and melons dur
ing the present year are more than
pleased with returns from their crops
and similar acreages will be planted
to these crops next year with an added
acre or two of tomatoes and radishes.
Also many Of the farmers are going
to buy few dairy cows, and, in CIV
ing some attention to these things, will
reduce their cotton acreage. En-
couragement for this kind Of farming
is being given by the agricultural de-
partment of the Missouri Pacific, the
state and federal extension depart
ments and every business interest be-
cause ii is realized that the farmre s
prosperity means the property of all
The Little River news. (Ashdown, Little River County, Ark.) 1897-current, 1920-10-27
Quarterly Conference.

The Fourth Quarterly Conference
will be held at the Methodist church
in this city Wednesday night by Pre-
siding Elder j. l.. Cannon. Thih being
the last quarterly conference of the
year full attendance is desired. Rev.
Cannon will preach.
The Little River news. (Ashdown, Little River County, Ark.) 1897-current, 1920-10-27
No Services Wednesday.

The Rev. David Shepperson has
noaified the members of the Presbyter-
ian hurch that it will be impossible
for him to be here to preach Wednes-
day evening.
The Little River news. (Ashdown, Little River County, Ark.) 1897-current, 1920-10-27
COOLIDGE CLOSES TOUR
G. 0. p. Nominee Ends His Invasion
Of the South.

Boston, Oct, 24.-GOvernor Coolidge
returned tonight from Today speak
ing tour which took him into South
ern states. He will next speak at
New York Thursday, and Is expected
to close the campaign here Saturday.
New-York tribune., 1920-10-24
Industrial Stocks
Register Gain as
Buying Increases
Sentiment Optimistic as the
Week Closes; Signs of a
Revival of Pool Opera
tlons; Trading Is Active

Speculative interest in stocks IN r.s
'eraay's two-hour trading session at
.ne exchange centered mainly in a num-
per OF industrial specialties and nubl;c
uulity shares. In some cases substan-
.!ai advances were scored on fairly ac-
1--WE volume of business and the move
men. OF these issues suggested re-
SlVa1 OF pool operations. The market
as whole displayed q moderate de-
gree OF strength and there were evi-
oences OF covering of short commit
ments by professional traders. who
were impressed at the resistance offer
ca ca oy the ilst on Friday in the face of
III per cent call money.
Sentiment in the market nlace as tho
week closed seemed to be conserva-
lively OPTIMISTIC. Most market OBJ
servers, IN judging the immediate
future of the stock list, were inclined
to take cheerful view. The oninion
seems to be general that the short in
terest IN the market is of fairly large
proportions. and many experts hold that
should the English strike situation i'm
prove a substantial recovery can be
looked for. 1t was the possibility of a
SeI'Iement OF the strike crisis over the
week END that accounted in a measure
for the repurchases yesterday for the
short account
fuohc utility stocks, which have dis
played an advancing tendency most of
the last week, went further Yesterday
IN the group were Montana Power
winch advanced 4a4 points; Consoli
dated Gas, which gained more than a
point; Laclede Gas, up 4; BROOKLYN
Snion Gas, UP 2l2, and Peoples Gas, of
Chicago, up 2Ss. The bidding up of the
public utility shares is plainly a result
OF the improved outlook for the public
service corporations, which seem to
nave passed the peak of high operating
costs. In the bond market public util-
lty issues are also responding to the
same influence.
Ialk of an extra dividend for United
FRUIT common was heard yesterday in
connection with the sharp rise in that
issue. OF the oils Houston, which is
one OF the most volatile of the group,
jumped more than 8 points Associ-
ated Oll, strong feature earlier ir the
week, on the other hand, moved off
sharply on light offerings. Railroad
and steel shares were quiet as gen
eral thing and showed comparatively
little change
The effects of the large government
withdrawals during the last week were
rejected IN the statement of the Clear
lng House banks, which reported a
uehclt IN reserves amounting to $685.
977,180. The New York Federal Re
serve Bank lost in gold holdings and in
the gold settlement fund, but its ratio
OF reserves to deposit and note labili-
ties combined was practically un-
changed
New-York tribune., 1920-10-24
The Dollar in Foreign EXCHANGE

The foreign exchanges were domi-
mated last week by the erIatic tend
ency displayed by sterling rates on
London, which fuctuated in unsteady
manner on the news of the strike of
English miners. At one time demand
sterling broke to within a fraction of
$40, which set new low record for
the current declining movement Sub
sequently it rallied and recovered
much Of the ground lost.
International bankers said there had
been considerable selling for sterling
and francs here to establish dollar bal
ances with which to buy coal and fuel
oil in this market should the miners
strike prove serious
The South American exchanges at
tracted attention by the general tend
ency toward Weakness The rate on
Buesnos Ayres fell to a new low record
toward the end of the week The de-
cline is due to combination of cir
cumstanees Argentine credits in this
country, which at one time amounted
to approximately $40 100000 in actual
gold, have about been exhausted The
American dollar to-day stands at a
premium ow 25 per cent in Argentina
and % per cent in Brazil. In the case
of Brazil the bankers are considering
loan fotation here, and $4,000. 900
has been mentioned as the probable
amount of the operation
If you calculated the cost of the dol
lar in terms of foreign money of cur
rent exchange values-that is, if you
were buying dollar with pounds
marks or francs, its value at the close
Of last week, compared with a year ago,
follows:
New-York tribune., 1920-10-24

statement was that which showed that
the New York bank had borrowed from
other reserve institutions through re-
discounts. Member bank BORROWINGS
at the local bank against government
war paper increased from 5Oo,4O2 900
to 1921 ,950,10S. Borrowings against
other kinds of paper declined from
$40, ,646 coo to $407, ,364811. Total bills
on hand at the end of the week amount
ed to 9l.0O2 ,6l7, against 81 ,O28 1872. :
OJV the previous week.
Explanation of the advance in call
money rates on Friday to 10 per cent
at the Stock Exchange was supplied
yesterday by the weekly statement Of
The Clearing House banks, which re-
ported deficit in reserves of s23. .9T7.-
ls0. This is the largest deficit the
banks have shown since September 20.
1919. There was heavy outward
movement of funds to the interior
through. the Federal Reserve system.
and local banks remitted these funds
by drawing down their reserve bal
ances which decreased $65, Asa 600.
Loans and discounts of the Clearing
House banks decreased S90,843 900 last
week, while net demand deposits de-
creased SIP ,935000 United States
government deposits in the banks to-
taled S64.9l9 600, compared with S11O.-
100000 the week before
New-York tribune., 1920-10-24
Factors Indicating Easier Money

While the money market last week
was still suffering from the effects of
the heavy October IS settlements, stu
dents of the situation are still of the
opinion that there is still an under
lying tendency toward easier condi-
tions. Writing in the current Accept
ance Bulletin OF the American Accept
ance Council, Morton H. Fry, of
Bernhard, Scholle & Co., says: Time
money against securities as collateral
can now be obtained for the six
months period at about per cent,
whereas only few months ago it was
almost impossible to obtain time
money for practically any period, no
matter what rate was bid This is one
Of the real tests of easier underlying
conditions. There are indications.
moreover, that in some of the out
lying districts money is coming INTO
greater supply, owing largely to the
more ready movement OF crops. An
even better indication of an easier
tendency or, rather, of the belief in
easier conditions in the near future,
is the excellent investment demand for
gilt-edged securities on the part of in
stitutions and private investors. 1t
seems to be the consensus of opinion
among dealers in investment securities
that q demand exists for securities of
this description such as has not been
witnessed in number Of years.
New-York tribune., 1920-10-24
In Wall Street
Market Stands Shocks

The outstanding feature of the
market during the last few weeks has
been its ability to stand shocks The
cuttirs & of steel and iron prices and the
slump in the volume of new orders at
the very time when it was the opinion
Of many that wave Of prosperity was
in prospect for the industry produced
only a moderate reaction in the steel
shares. Next came the slump in copper
metal prices from 19 cents to below
16 cents, and, notwithstanding that the
majority OF companies cannot cover
costs of production at such low selling
costs, the copper stocks as a whole de-
clined only slightly. The last week
has witnessed the advent of the great
British coal strike, together with the
prospect that the railway workers may
also go out, yet the market during the
closing days of the week showed an
advancing tendency despite a jump in
the call money rate on Friday to 10
per cent. These aspects of the market
in the opinion of some market observ-
ers leave the political situation as
pregnant with possibilities. 1t was re-
1900 the market resumed the boom
which was thought to have been over
done during the vast industrial expan-
sion of the preceding year. Present
conditions, according to q number of
market interests, somewhat favor a
partial repetition of this experience.
The innumerable socalistic expert
ments of the recent past" say Wrenn
Brothers g. Co., "have created such a
general nausea that even the war taxes
may be revised along equitable lines
by the next Congress, and if this
should come into prospect the stock
market would certainly respond"
New-York tribune., 1920-10-24
New French Internal Lean

SUBSCRIPTION lists Tor the new French
national 6 per cent loan Of 1920 have
been opened in New York, according to
an announcement by CASTOR L4ebert.
Consul General here. The subsctip
lions which are to close at the end ef
November, will be accepted IN French
bonds of 1915, 1916 and 1920 up TO ons-
half Of the amount subscribed. in max
ing the announcement Mr.. Lieber.
said in part: As this loan is IN part
intended for the redemption Of an ia
portant part Of the currency Of the na-
tlonal banks Of France, the natural con
sequence viii be that in the near flrure
the value Of the franc viii greatly a-
crease. Without any exaggerated oD-
t!mlsm, one may say that the investor
OF dollars IN 1920 VIII in 1927 receive
from per cent to 9 per cent on ms
capital: Since the beginning OF the
year the French government has MOI
borrowed any money from the Bank Of
france. Therefore, 1t can be said in
fiatlon has ceased. More than ,rat. de
tlation will follow in short time. TIE
French Minister Of Finance expects 20
reimburse to the Bank Of France AT
the beginning of next year 5000 0OO 600
francs so as to reduce the debt of the
government 10 the bank. A correspond
ing elimination of banknotes viii re-
Sult.'
New-York tribune., 1920-10-24
Seneca Conner

The rise Of more than / points in the
shares of the Seneca Copper Company
SINCE their recent Introduction 20 trad
ing on the Stock Exchange has been
the subject OF considerable gossip in
the Street, particularly inasn.ocb ~
the unfavorable condition Of the coppef
industry has created unsettlelnent iu
the rest Of the copper list One of tie
reports current regarding Seneca +
that the Calumet and Hecla Mining Com,
pany Is negotiating for control. .5otr
are known as lake coppcrs, Seneca bc
ing the first of this group TO be listed
on the exchange. The greater part Of
the copper wealth of New England has
come from the mines in the lake dis
trict, Calumet and Hecla alone having
distributed upward Of s15O,000.c0O .n
dividends.
New-York tribune., 1920-10-24
Associated Oil

Profit taking in Associated Oil was
again in evidence yesterday as on Fri
day, but the closing price Of 1851 was
still nearly 10 points above the closing
sale of the week previous. The ad
vance in this stock in recent weeks has
been going on with little comment.
The company owns or controls over
$4,000 acres Of oil lands located main
ly in California, besides rehneries and
pipe lines. Earnings for 1919 were s15
share after taxes, depreciation and
depletion Charges for depreciation
and depletion have always been lib
eral, amounting to 38 cents a barrel last
year. Net after all charges, for the
first six months Of 1920 was equivalent
to s9.15 share. Of the s39, ,756, 900
capital stock the Southern Pacific owns
S20,O69,OO0, or over three-fourths Of
the amount outstanding.
New-York tribune., 1920-10-24
w estern Union

Among the public utility stocks
which are beginning to show signs of
recording an appreciation in market
value is Western Union. The COM
pany has been achieving excellent re-
suits since the restoration of its prop
critics to private control. The gov
ernment turned back the lines in a
fairly high state Of efficiency, which
enabled the company to resume the
management of its business and take
advantage of the increased amount of
business offered without difficulty. The
company furnishes about 50 per cent of
the telegraph service of the United
States. For the nine months ended
September 80 the company reported net
earnings equivalent to S10.22 a share
or its stock. This rate of earnings is
equivalent to an annual rate of Sl3.62
share. or nearly twice the amount of
uividends paid.
New-York tribune., 1920-10-24
Striking Changes
In Reserve Bank
Showing g of Week

Operations of the Federal Reserve
Bank of New York, as revealed in the
statement issued yesterday as of the
close of business Friday. showed some
striking changes, although the ratio Of
total reserves to deposit and Federal
Reserve note liabilities was practically
unchanged at 38.6 per cent. The week
before the ratio stood at 3S7 per cent.
The local institution lost approx
mately 100000 in its holdings Of
gold and gold certificates, but this loss
was about balanced by the gain of
$4,000, 600 in gold with the Federal
Reserve agent A fortnight ago the
agent transferred gold from his ac-
count to the banks account, and last
week the metal was shifted back. In
its operations with the other reserve
banks the New York bank lost approx
mately S17,000,000.
One OF the interesting items in the
New-York tribune., 1920-10-24

for its large fleet Of fruit steamers.
This is another evidence OF the rapid
changes being made in the use of
liquid fuel instead OF coal By the lead
ing ocean transportation companies 10
safeguard an ample supply OF fuel oil
for the years to come United Fruit
was the feature of yesterdays stock
market session. 1t sold and closed At
2247s, new nigh for the year and az
advance of rs points above Fridays
last sale. Reports have been revived
that the company intends 10 declare a
large stock dividend in The near future.
New-York tribune., 1920-10-24
United Fruit in Carib Syndicate

special meeting of directors of the
Carib Syndicate has been called for
the coming Tuesday, at which time it
is expected new members will be
elected to the board representing the
United Fruit Company. This will fol-
Carib Syndicate by United Fruit. al
though it was indicated yesterday that
the latter company does not intend to
go into the oil producing business.
1T has allied itself with the Carib
Syndicate. said an announcement.
for the purpose of being assured of
a supply of fuel oil in South America
New-York tribune., 1920-10-24
Chile Copper Income Report

surplus, alter charges including de-
probation, of the Chile Copper Com
pany for the quarter ended juno 8a
moved S424,1l4, equal TO II cents :
share on S95000,o00 of capital stock
against Sl,233,O36, or 81 cents share.
the preceding quarter. In the Quaftes
ended June 30. 1919. the COMPANY fe
ported deficit, after charges os S5ls.
o9' The statement disclosed re.
nronts of $1,397,3o0, decrease Of 81.
2l6.l8S from the preceding quarter
New-York tribune., 1920-10-24
Trading in Bonds
Features Session
OF Curb Market
New Danish Securities Are
Dealt In ON Large Scale:
Premium for Norwegians:
Little Change in Stocks

Heavy trading in bonds was easily
the outstanding feature of the market
on the Curb yesterday. The bond list
in the outside market at present is
one of the longest in its history and
most of these issues were traded in
yesterday.
The new Danish government s per
cent bonds showed a turnover of $40
900 par value, selling at high of l0034
and closing at l0012 The Norwegian
government SIS touched 10lS.
In the stock dealings on the curb
price changes were small. The open
ing was higher in the case of most
issues, but afterward the ground
gained was lost. Business was almost
entirely professional.
New-York tribune., 1920-10-24
Dividends
Extra

Invader OIL Refining Co.-An extra
dividend or per cent share has peen
declared in addition to the regular moathy
dividend OF i per cent. both payable on
November to stockholders of record Oc
tober Is.
Hamilton Trust Cc.--An extra dividend
OF 2 per cent a share has been declared In
addition to the regular quarterly dividend
OF 3 per cent both payable November !
to stockholders OF record October 25.
Pacific Bank.--An extra dividend OF 9
per cent a share has been declared in ad-
dltion to the regular quarterly dividend OF
Q per cent. both payable November to
stockholders OF record October %.
Regular Declarations
Pay Holders Of
Rate. Period. able. record.
Eiseman Mag. Corp.
pf $1.76 Nov. Oct. 20
pf .............2 2Ts q Oct. 25 Oct. cl
ps .......$26o so ga Nov. Oct 80
do I'd pf $3.50 ST. Nov. Oct. 50
Am. Soda Fount. Co.
Amosksas Mfg. co..slSo Nov. Oct. 10
New-York tribune., 1920-10-24
Bonds

Sales (ooo omittedj. open High Low. Last.
$40 'Alled Pack IS. 60 e9ia 90 g.
lS'A T 8 T ds zz ~ ss : 81 sS4 : 30 90 s ~,
20 Ana Cop IS WI s6 Sos se se
lo'A \ o 7i2s WILCOX 1907. looi4 looa.
Is Armour IL " s7..a ~ ssa sa -
Is *Boone Oil IS - ~ u 50 81
sdo -. ro..... 81 81 - 81
lsC Ry ~ loo4 1907 loOi4 1905.
35 'ChristlaniA ss-. - go. ~ ~ >
IS 'Col Graph ss.. 81 9ii, - !.
l75 *Denmark ss...lOQ'. loOs1 1905 ~ 100 Z
le'DuQuesne 1t 6s s9S4 ssSs SsAa s9s.
5'E q & + IS e 81 81 81 81
10 'do IS 1876. s5 - rs 80
70 sGdrich 10 - vi 81 al sos. 81
% Grand Tx IS M IS 1ol - l0l1. 10l 4
- 'InieI + T IS. = 81. 73
10 0"l1enn cop 7s IS 20 es O.
Is * Of Nwy W loi a 1ol 5 1olls lol s
2@N y \ A&H 10 - C. 5. s.
New-York tribune., 1920-10-24

Sales. Open. High. Low Last
"a +Ohio c Gas %. az s5 9ts. -
5 *do 7Te 1923 95l2 95I5 g5l g5 10
10 'do 1924. 94la 94s. 94i5 q4Ia
3 'do 1925 ..... 95s- 954. 95s. s5a.
40 'Seab Air L go 60 60 SOS. Eqs
70 eS-Roe Is q yr) 99X 991 9gi qgI
100 'do rs g yr) eSsg sSst 9sss gs5s
100 do 7s 6 yr). .. 9sAs 9Sia 9Sas qSss
Is Sinclair 7fc... 917s 9l7s gls g1s
Is +Solvay & c $500 lOois 100 10Ol'
'Swiss Gov 512s So IS So S5
40 tdo sc w.t. SIX 97ss g7N gT1
20 -Tex co 79a nts. 9s7s 9g7s qSss gSa
5 Sun Tank l. 7s.I0i 10l l0l l01
.Wost Eicc IS. 80 90 90 90
80 Zurich ss......l00A 10oil 100 100 ls
German Internal Bonds
Marks 1ooO omit). open. High Low. Last
10 .l5erlin 4s..... l3la 1872 l31a 1872
10 cologne 4s.... l52. 1854 l5s. 15s4
German FL AIS 17is 17la l7js ~
ttiamburg IS. 15i- l5lg 1914 15i3
Nuremberg As 1914 1874 1874 l5l4
"Unlisted tsells cents per share
New-York tribune., 1920-10-24

5000 Al-Br Col Met Il u 5. "a
$500 'Amer Mines. y ~
Ios9 I9s9 .Agi9 ( 555.z5, Siiysr i. = 4 =
$500 ~Tl5elch - Ga p) 3 W
200 %T5eich e Ca p eia
1000 Rost q Mont Al - Il -
200 *fcaledonia IS IS II is
5590 500 sfcasn5oy fs''9 S'5i''- o. elss s. e'
1900 Cons Nir Si!v.. 6i9 az
.:ss * Ss:iiSs Be N. 81 :. s.,35 a, = !
500 Ii Saiv SILVER. u Is 3 y
oooo *Eur Or NJ CO, IS 81 86 81
500 = Eureka Holly Ia rs ~ lle,
25oo FTGold Il Div. 81 37la 81 81
23up 'TGoldf Cons. 10 10 9 9l2
300 *IGoldf Dew. Az
$500 .+HarmiA u NJ % q 25 q
S5o Hecla Mining. ~ 4}s - -,
1900 sTJim Butler. II II Is 1G
5000 fJumbo ENien. 6l7 s ola
low - i ewanas
1000 -Lone s. NJ.
boa @TNarsh Mng.. II II II II
s$$ sss :s':as .H:'sss = - =. =: =: :: 8
$500 |New Arcad c "a 41s az
100 Nipissing NJ Co 9 g
500 Prince Con ..- "a il IA "a
4Soo Ray COP Co. * ~ "a ~
1000 Rex Consol g..
$500 Koper-G NJ Co. q Il "a n
1900 81 Groin S.Ver = IS
$500 sfSllver Pick. Ga 6i2
I5oo tTSllv Kg Div. : 2ia
leo Stand SLY Id. u u u y
1900 'ISuccess Mg.. PA
5000 *Sutherld Div.
500 'Tallapoosa Sil n X y =
200 *Tono Belmont Is. Is. ~ =.
7-O -Tono Divide. Ia is ~ ia
$50 Tono Exten IA Is. . ~
200 +Tono Mining. l@s $ ~ Is
4-0 United Eastern - 2{s rs ~
1900 1W End Cons. IL Tx lIs
1900 TWh Caps Ng. ~
1900 VII c Il ia ~ 1is II
1s.n AN,Llho-t ~. 81. ~ u,
New-York tribune., 1920-10-24
Standard Oils
Other Oils

Shares. Open High. Low. Last
200 'Anglo Am OH 2l !. 2lia 2l+a 2lL
245 sS q of Ind. 765 760 1852
New-York tribune., 1920-10-24
German Internal Bonds

Unlisted. fsells cents per share.
New-York tribune., 1920-10-24
Transactions Yesterday i'm Listed Stocks
Summary of Stock Exchange Dealings

Copyright 1920 New York Tribune Incl