davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1920-05-02

Sagging prices were q feature Of
the bond market during the past
week there apparently being no
initiative on the part Of investors to
take advantage Of the attractive in
vestment opportunities available.
This was attributed in considerable
measure to the present excessive
taxation laws as well as the talk In
Washington during the week of stiil
further burdensome taxation for the
purpose OF providing funds to meet
the so-called soldier bonus" 1t is
lregrettable that there should be such
a lack of judgment on the part Of
legislators sent to Washington by
the people In matter Of such great
import as the proposed ruinous tax
alton.
The general expression in the A.
nancial community as we'll as in
commercial circles has been one of
keen regret over the state of affairs
created by the introduction Of such
ill-advised legislation in Congress ut
a time when the country as a whole
Is struggling under the burdens of
taxes which are killing the initiative
of capital from all sides. 1t Is this
phase of the situation which has
teen instrumental in bringing about
the present unsatisfactory condi-
tions obtaining in the bond market
as well as the security market as a
whole.
While it is admitted that to award
the soldiers who served in France
something as a testimonial of their
excellent showing would be
right. it is believed generally
that the present is not pro-
pitious moment for such an un-
dertaking. 1t also is felt that poll
tics has been injected to a consid-
cradle extent in the legislation
which has been introduced because
the soldier vote will be an important
one in the coming Presidential CAM
paign. Much harm. however, already
has been done by the political activ-
tiles which already have become a
matter of record in Washington with
regard to this important situation.
Apprehension is felt in some i'm
portant market circles over the out
look for United States Government
Liberty bonds. but the low levels es-
tablished in these issues have been
brought about, not alone by selling
on the part OF corporations, but by
Liquidation of holdings by individ-
uals as well. The great difficulty in
obtaining money for the conduct of
business at the moment is a serious
one and naturally corporations need
ing funds have preferred to liqui-
date Liberty bonds rather than pay
the excessive interest rates which
have been eXacted by institutions.
1t is hoped that the country as a
whole will undergo a period of de-
flation gradually so that there may
not take place a panic in CONNER
cial lines which some believe is in
evitable unless prohteering is
stopped and the effort to expand by
business enterprises generally
dropped.
Another factor in the Liberty sit
uation has been that of the selling
The Washington herald., 1920-05-02
DECI ARES STOCK DIVIDEND.

A proposed stock dividend Of $50
ner cent by William Cramp & Sons
ship & Engine Building Company
will follow Affirmative action In
creasing the capital stock at meet
ing to be held July !.
There is no question about the
proposition going through. A ma
iority control of the Cramp stock is
owned by the American Ship e.
Commerce Corporation.
This dividend will distribute TO
shareholders what will represent the
earnings surplus Of the
company as per it's balance sheet.
having been $10,96s.566 on January
1, 1920. The amount of the $50 per
cent stock dividend would be ss.147.-
900. outstanding share capital being
S6,OeS.00o.
Stockholders will be asked to vote
for an authorization of 100000, 900
capital, which will leave over s4,-
100000 for future purposes after
payment of the stock dividend.
The Washington herald., 1920-05-02
Foreign Exchange Rates Display
Wide Fluctuatng Tendencies

The operations in foreign ex-
change in the week under review
were. according to the best au-
thOrities. largely irregular in char
acter. There were sharp counter
currents and wide alternate move
ments. Sterling was exceptionally
irregular, moving from 3.75h for
cables up to $50 and reacting to
3.S4lz later. The entire market
was Influenced by the erratic
course of sterling. At the outset
most OF the operators were bearish.
taking the view that requirements
for April and some time later had
been covered and that new offer
ings of exchange would be likely
to cause more or less sharp de-
cIines. The feature of the market
was the rally of nearly IA cents to
3.S9 for eX-cables and 3SSA for
demand. due to reports, so far un-
sumption Of shipments of gold to
New York for account of the Brit
ish government. These rumors
caused a rush to cover shorts and
after the demands were satisfied
the market became irregular. al
though there was still a consider
able margin over the extreme low
figures.
Irregular Fluctuations.
Marks moved from LES to lis.
lire from a low of 23O7 for cables
and 23.05 for checks, advanced TO
21.75 and 21.77. Francs were equal
ly irregular. rallying from 1904 for
cables to 1852 and later reacting to
6.65. BelEians recovered from 1897
for cables and 1899 for checks to
1850 and 15.J2. Scandinavian OK
changes were decidedly irregular
as result Of the political. eco
nomic and labor disturbances in
those countries.
Some comment was occasioncd by
the reduction to a little over So
Oo0, 600 in the exports of gold to
Argentina from the earlier stare-
ments that from $4,000, 900 to $12.-
00O.O would be forwarded to that
country. This change was due to
tho fact that the rate of exchange,
1920. proved insufficient to show
any profit on the transactions. The
shipment that was made was by
an international bank which enjoys
special privileges in connection
with operations for the British gov
ernment. Toward the end of the
week an engagement of about ST.
100000 in gold for Ceylon was made
and there were reports Of the prob
able shipment of several million
dollars from the Pacific Coast to
China or Japan. The Japanese
crisis attracted less attention than
in the previous week
The Bank Of Belgium announced
an advance in it's official rate OF
discount from 4I2 per cent to So
per cent. Until within a few weeks
ago the rate stood at per cent
The latest advance was said to be
in sympathy with the advances in
the other principal foreign bank
rates.
Owing to the depreciation in the
The Washington herald., 1920-05-02
IMITATION.

In an address before the Sales
managers Club of New York, o. 7.
Austin. statistician Of the National
city Bank. presented the latest iS-
ures of world currency. national
debts. interest charges and other
governmental expenditures. showing
that the paper money of the world
exclusive 'of that issued by the Boil
sheHik) had increased from $1,000. =
100000 at the beginning Of the war
to $4,000. o00.0 600 at the date Of the
armistice and S56.o0O. .OOO. 900 at the
present time: also that the national
debts OF the world had grown from
$4,000. 100000 in 1918 to Ss65. 900. =
100000 in 1920. while world credits.
another form of imitation. had ais"
enormously increased
The Washington herald., 1920-05-02
FAILURES LAST WEEK.

Commercial failures last week in
the United States are 132 against
liz tn" preceding week and l.O
the corresponding week last year.
Failures in Canada number ten
against eight the preceding week.
and six last year. OF failures last
week in the United States sixty-ouc
worc in the East. twenty-nine South
twenty-siN West, and sixteen in the
Pacific States and fiftY-seven report
cd liabilities OF $1,000 or more,
against hfty-two for the preceding
week.
The Washington herald., 1920-05-02

ing about a point under the final of
the day previous.
Oil Issues.
Oil stocks, which for the most part
of the week had been soft tended to
stiffen slightly on Friday when Pam
American Petroleum sold up to
around 80 as against a closing quo
tation of S9A on the day previous.
Royal Dutch acted better than any
OF the oil issues, but sustained a
moderate loss on the weeks trans
actions. There was a liberal supply
OF Sinclair Consolidated stock which
dropped to below "a, but closed the
week at slightly above 35. 1t was
said that there had been banking
support of this issue because of the
Offering of notes of that corporn-
tion which were said to be going
slowly with the investment public
The increase in stock which will
take place through the conversion
OF these notes was not viewed with
favor from a stock market point of
view by the Street.
The Washington herald., 1920-05-02
UNITED FRUIT COMPANY.

United Fruit shareholders are
looking forward to a stock divi-
dend some time this year. 1t is es-
timated 1920 earnings ought to to-
tai more than $40 a share, after
taxes.
United Fruit interests predict
earnings from sugar operations
alone will total more than $50 a
share this year.
The Washington herald., 1920-05-02
Local Securities.

wsshington Stock EIcnanr..
Quotations for 1870 TO data.
Furnished By Moornead a Elmore.
The Washington herald., 1920-05-02

There was rather heavy selling of
the motor issues during the entire
week under the leadership of Gem
cral Motors common. which was in
supply on all recoveries. This nat
urally tended to weaken the posi-
tion of other motor stocks with tho
result that new low quotations on
the present downward movement
were established. Studebaker COM
mon. Notwithstanding the declara-
non Of "A per cent dividend, and
The excellent statement of earnings
SOLD OF moderately on Friday, clos
The Washington times., 1920-08-05
RANDALL MAY Be
FOUND GU|LTLESS

Continued from Page Thirteen)
the club he had used in attacking the
music, teacher.
Asked about the handkerchief
found around Mrs. Manns throat. the
negro denied he had tried to choke
her. except with his hands to prevent
her from screaming. The negro who
attacked Mrs. Gleason tied a cord
about her, throat.
" 81 did rot attack Mrs. Gleason"
said the negro, but / admit killing
Mrs. Mann
What did you do with Mrs. Manns
wrist watch?" the negro was asked.
after l had attacked the woman.
/ was running away from the scene"
said the negro. "A man and woman
came into sight. As was trying to
put the watch and money in my pock-
ct, dropped the watch. I was afraid
to stop to pick it up"
Campbell this morning took the po-
lice to the place where he said he
dropped the wrist watch, but they
could not find It. Further search will
be made for the time piece this aft
crnoon.
Seventeen cases OF housebreaking
and four cases of Docketbook snatch
ing from women have been placed on
the blottcr at the Tenth precinct po-
lice station against the negro.
Campbell did not admit any
thing" said, Captain Judge this
morning" until we had found the
owners OF the jewelry discovered in
his possession and in his home. We
found that beside the $4,000 worth
of jewelry we have. recovered in
Washington. Campbell sold and
pawned n large number of gems in
Baltimore.
1T was not until VIC found that
the ring he had given the Balti-
moro woman was the property of
Mrs. Mann that Campbell confessed
to have assaulted and robbed her.
We have the right negro, and we
expect to pin n number more cases
on him. lie IL n desperate negro"
Campbell IL twenty-five years old,
and was born In southwest Washing
ton. In early life he was an inmate
OF the National Training school from
which institution he was released in
1918. His mother. Emma Dixon, has
been arrested and charged with re-
cciving stolen goods.
The Washington times., 1920-08-05

A. s. Galley. cashier of the Lincoln
National Bank. are convinced that
Deer Park, Md. Is practically the
best summer resort in this section or
the country. and have been enjoying
themselves there for some time past.
Victor B. Deyber. cashier of the
second National Bank, has been
spending his vacation at Cape May,
y. j., and plans to return to the city
on Monday. Charles B. Lyddane,
cashier of the Federal National Bank,
is also on his vacataion.
British railroads are likely to re-
ceive permission to increase both pas
ecngcr and freight rates considerably
more than the American roads have
been authorized to increase them by
the recent action of the Interstate
Commerce Commission, according to
views expressed yesterday by John II.
Nc edham, foreign representative in
London for the Irving National Bank,
who has just returned to the United
States after residence of three
years in England.
The rates advisory committee OF
the ministry of transport. Mr.. Need
ham said, is now working in con-
junction with British railway offi-
cials on new passenger schedules ap-
proXimately 100 per cent higher than
before the war. While in the matter
of freight rates the increase which
tie railroads have requested is about
I112 per cent above the pre-war levels.
II. l.. Offutt. jr., cashier of the Dis
trict National Bank. has been an
nounced as chairman of the audit
committee of the local organization
arranging for the coming convention
of the American Bankers Association.
Others on the committee with him
will be w. Il. DeLashmutt, United
States Savings Bank, vice chairman:
Il. f.. Herell. Merchants Bank; ID. $.
Venable. Standard Savings Bank;
Ferd dinand Petit, Citizens Savings
Bank. and Charles c. Eckloff, Hamil-
ton Savings Bank
The Washington times., 1920-08-05
GAS SHARES AID
NEW YORK MARKET
Reading Leads Roads and D.,
p L. and W. Moves Up-0il
Stocks Break.

NEW YORK, Aug. 5.-Prices moved
in an irregular manner at the open
ing OF the stock market today with
the trend in the important issues be-
ing to higher figures.
The gas shares developed activity
and strength, Consolidated Gas ad-
vancing ~ TO 81; Brooklyn Gas u
70 SO. and Peoples Gas l point to 2sI5.
Steel common yielded % TO s7h.
Crucible rose over 2 points to izs&.
and Baldwin Locomotive at 1854,
and Republic Steel at SSk showed
fractional Improvement.
Reading led the railroad shares
and after yielding 4, to SsA. rose
point. Canadian Pacific dropped over
I point. TO llSh. but soon recovered
this loss. New Haven advanced l
point from it's low. to 35s.
Mexican Petroleum reacted to 15sh
and then advanced TO loo. Psn-Amer-
lean Petroleum dropped a full point
to s2x.
A sensational break In Middle States
oil featured the dealings in the early
afternoon. On heavy offerings the
stock broke 10 points to 10Y. Other
oils were carried down by this sharp
decline.
The supply and demand was about
evenly balanced in the leading issues
during the forenoon, but room traders
were able to force declines in some
issues after the first fifteen minutes.
United States Steel yielded to s6%.
Delaware, Lackawanna and Western
moved up 8 points to 224. American
Express rose 10 points to l4l y.
Reading sold off to S9%, and South
ern Pacific rose over ] poi1t to "a.
Marine preferred dropped 3 points TO
74k, the lowest price touched in
long period. American International
also showed pronounced weakness,
falling points to 20.
Sugar stocks were heavy. The
petroleum issues were firmly held.
American Woolen declined IA to
IS.
The Washington times., 1920-08-05
LOCAL PRODUCE MARKET.
ijc; average receipts, i5c

EGGS-Nearby, 45c; average receipts, hc;
Southern, Ac.
PT'TrER-Country print &c.
CHEESE-Juneh held. soc; new made, 3N.
DRESSED POULTRY-Fresh killed spring
chickens. soc to b5c; bcns, i2c to f5c;
roosters, SOC; turkeys HOc to SOC.
POULTRY-Alivc, roosters. 22c to 23c;
turkeys. 3Sc to i3c; spring chickens, foc to
i5c white leghorns, AOc; hens. 36c to SIC;
keats, zoe To 7ic each.
GREEN F'RUITS-Applcs. now, 81 to 81. 10
hu: No ., g. to 81 bbl; basket, 1hc to
81 25: lemons per box. s. to $3.50: pineap-
pics. - to 81; California oranges, 81 to S.;
valcncias, s. to t67h
VEGETARL LES-Potatocs thome grownl.
$3.50 to IS bbl.: No. I, per bbl.. 81 TO $40;
No. .. per bhl.. t2 to $780, beans. per bush.
cl nearby. s1.15 to $3.50; cabbage, bhl.. 81
to 81 %: lettuce, native, 81 to fl.5O crate;
corn. Virginia, soc to 7jc doz. huckleberries,
at. CSC to 3oc: blackberres, at, l5c to Soc J
cooscberrics per H., &c TO lnc; peppers,
Nh0 pcr crate: eggplant, $3.50 per, crate:
spring onions, 81 to 81 per 100 punches; Texas
onions. 81 to 81 Is per crate; spinach per
crate, 81 to t.50 home grown tomatoes, per
crate. SOC to $3.50: peaches, 81 to N25;
watcrmelons, per 100. t15 to $50; canta-
loupes. 81 to to $3.50 per crate; peas, New
York state, s2.75 to 81 bu.; celery. Michi-
gan and New York, 50 to ~ doz: string
boans. ~ SO to 81. so; cucumbers, 81 to 81. so
box; oranges - to -.
The Washington times., 1920-08-05
RAIL RATES TO AID
STEEL INDUSTRY
Large Orders Not Expected
Now, But Trade Look
ing to Future.

The steel trade does not expect
large orders for rails ane equipment
TO be placed Immediately by the rail-
roads but Is prepared TO walt until
the roads build up their earnings
from the increased revenues granted
by the Interstate Commerce Commis-
sion last week. according to the Iron
Age.
Tie steel companies recognize that
time will be required for increasing
the next few months will not be
easily accomplished.
The market in pig iron. this au-
thority states. has already felt the
effect OF the advance in railroad rates
and during the last four days there
has been active buying at rising
prices.
Some grades OF pig iron have ad-
vanced - per ton in the past two
months, and Sl5 and SIS per ton in the
last two years.
Both pig iron and finished steel
are sold delivered at the point Of
production. so that the buyer Will
pay the freight rate increases.
New railroad inquiries" says Iron
Age. Include $500 cars for the Mis-
souri. Kansas & Texas, and the st.
Paul will probably close this week
for 1000 box cars and 1000 gondola
cars. American Locomotive Co. new
orders include fifty for the Chicago
e. Northwestern and twenty-five for
export. At Chicago two systems VIII
order 1900 tons Of tie plates.
The Washington times., 1920-08-05

already regular attendants at the
lake. The cool lake breezes make
dancing at Chevy Chase real
pleasure.
The Washington times., 1920-08-05
BALTIMORE GRAIN MARKET.

BALTIMORE, Aug. 5.--Wheat--
Firmer; better demand: No. red
winter, s2.63 No. ? red winter, gar
licky, s2.54: receipts, 252,222 bush
els: shipments. 1O3,S9 bushels.
Corn-Quiet; not quoted; receipts,
Is. bSI bushels; shipments, I, 1851 bush
els.
Oats-Steady; No. 3 white, domestic,
% cents; receipts, 14,77S bushels; ship
mcnts, 0,S54 bushels.
Rye-Firmer; No. . Western export,
spot, s2.0s; receipts, s5.6s2 bushels
shipments. 192,ts3 bushels.
Hay--Dull; No. I timothy per ton,
s37: No. clover mixed. S31.
Flour-QuIet; unchanged
The Washington times., 1920-08-05
AND EVENTS
IN CAPITAL SOCIETY
Continued from Page Eighty

Continued from Page Eighty
per Marlboro, Md, on Wednesday
morning.
The nuptial mass was solemnized by
the Rev Francis Loughran. cousin of
the bridegroom. During the cere-
mony and the mass Miss Jacqueline
Warren rendered several solos, ac-
companied by Miss Blanch Harbin.
The brides only attendant was Miss
Agatha NJ. Lanigan. Mr.. Loughran's
brother. Charles Loughran. acted as
best man.
Immediately after the ceremony Mr..
and Mrs. Loughran left for an extend
ed motor trip through New England
and Canada. on their return they
will be at home at 1927 Sixteenth
street.
The Washington times., 1920-08-05
CHESAPEAKE BEACH.

Cool breezes constantly fan the
large open-air, oveT-the-water dane
ing pavilion at Chesapeake Beach.
Free dancing is a daily feature, music
being furnished by Bert Sausman's
snappy eight-pieoe jazz orchestra.
The Grabbing season is under way and
fishing still remains good. Saltwater
bathing and boating are other attrac-
tions.
The Washington times., 1920-08-05
SMALLPOX HOLDS UP SHIP.

NEW YORK, Aug. 5.--The steam
ship MORO Castle arriving from
Havana was detained at quarantine
yesterday when case OF smallpox
was discovered among the steeIsge
passengers.
The Washington times., 1920-08-05
GREAT FALLS PARK.

Pleasant summer days continue to
attract crowds OF picnicers. pleasure
seekers. tourists. and dancers 70
Great Falls Paris where admission
as well as many OF the amusements
are free. The programme for the
Sunday concerts by the Ladies
orchestra will include selections
from many of the operas of great re-
nown. For one who wishes to kodak.
there are opportunities at Great Falls
Park unequalled elsewhere.
The Washington times., 1920-08-05
BUSINESS AND FIN A N CE
LOCAL SECURITIES.
waskinStos stSrk Exchange.
SALTS TO-DAY

iih. -
Lanston Monotype. IOq71S, 5q7S%.
The Washington times., 1920-08-05
CHEVY CHASE LAKE.

Chevy Chase Lake still maintains
its standing among dancing resorts
and is nightly attracting crowds to
its two open air dance pavilions. The
smooth floors and the peppy Meyer
Davis music have added many en-
thusiastic dancers TO those who are
The Washington times., 1920-08-05
AT THE RESORTS

Continued from Page TwelVe.)
park Amusements OF the present
season. There Is no charge for ad-
mission TO the park and outing
parties are always welcomed.
The Washington times., 1920-08-05
MARSHALL HALL.

This popular river resort Is reached
after a delightful 32-mile sail down
the Potomac ON the steamer Charles
Manchester which leaves seventh
street wharf at 10 a. m, 2:3O and
$3.50 p. m. daily Free dancing on the
steamer is enjoyed.
The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1920-11-17

capital, as it were, of the surrounding
farming district, leading in business en-
terprises, education and progress, almost
everywhere the country town is out
classed BY the farmers.
Leadership is needed, DR.. Birkhead
says, but there is nothing to develop
leadership, no satisfactory opportunity
for young people, and they go elsewhere.
In one community 80 per cent OF the
young people went to the city.
The country town merchant, according
to DR.. Birkhead, conducts his business
by time worn methods and the mail or
der house takes his place. In addition,
he says, the retired farmer is not an as
set to the town, seeming to rot out af-
ter leaving the activities of farm life.
On the other hand, DR.. Birkhead says,
the farmer il wideawake and progressive
SO long as he remains on the farm. Co.
operative enterprises are spTinglng up
everywhere. There are cooperative hard
ware and general merchandise stores.
There are cooperative mills and eleva-
tors owned by farmers. The projects
are incorporated, the farmers are stock
holders, they hold meetings and appoint
salaried men to administer the business
Great pride is taken in the schools, Dr.
Birkheads survey shows, but In every
town there were from one to five dead
churches. Some signs of a movement to
establish community churches were APP
parent.
The farming communities have re-
ceived their inspiration from the ma
tiOnal and state departments Of agri-
culture, from the agricultural colleges
and from the farm papers, according to
DIR. Birkhead There is a farm agent
in practically every county who repre-
sents the state department of agriculture.
Farmers institutes, which began at state
agricultural colleges are now in different
towns and lectures on farm subjects are
given.
In many counties there is woman
demonstration who advises with the wo-
men concerning everything about the
homecoming modern kitchen equipment,
laundry machinery and similar subjects.
There is nothing like this for the
country town no organization for i'm
prOyPment.
The two great needs of the farm are
better equipped homes and good roads"
DR. Birkhead says. The American farm
is the best equipped in the world, but
modern improvements in the homes are
greatly needed. In many cases the barns
are better equipped than the houses, per-
haps having running water where there
is none at the house"
In many places. farm tenancy is in
creasing and the permanent good of the
farm and of the community suffer. The
tenant does not take the same interest
in keeping up the value of the land, nor
in the cooperative enterprises of the com
munity. The condition is due to farm
ers retiring and leaving their lands to
tenants. In some counties, as much "a
60 per cent of the farm land is occupied
by tenants