davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1920-03-03
GERMANY MUST
Be RELIEVED
Burden Imposed Should
Be Modified to Some
Extent.
BANKRUPT CONDITIONS
Allied Aid Only Solution to
Complete Industrial
Decentralization.

Discussions now under way In
Paris looking to modification of the
economic conditions imposed upon
Germany under the peace treaty are
being watched closely by officials
of this government. for II Is the
belief here that Germany must be
relieved of some Of the burden
which was put upon her or she will
go into utter bankruptcy.
Press reports and information
from Hugh C. Wallace, American
Ambassador to France. who has
been acting as observer for the
United States, have convinced this
government that the matter is now
being considered seriously by the
allies.
Sentiment in England has been
favorable to modification for some
time, and the only country in which
the feeling still remains that every
penny must be exacted from Ger
many Is France. Even there the
business men and bankers have
come to realize that they cannot
gain anything by being the neigh
Dor of prostrate Germany. Forces
have been at work. IL Is said. for
several months to bring about a
change In French sentiment anu IL
is believed that they have succeeded.
Investigations which have been
made by allied and American repre-
sentatives in Germany have born
out in every detail press reports that
Germany's industries were at the
lowest ebb, and could not be ex-
pected to recover without some form
of assistance from the outside world.
Decision in the matter rests In
the reparations commission, which
has power enough to remedy the
situation without reopening the
treaty. The United States Is not
represented on the commission,
pending ratification of the treaty.
but officials in this country, IT Is
said, will approve any steps toward
the, Industrial rehabilitation bf Ger
many that might be taken.
Public Ledger Service.b
The Washington herald., 1920-03-03
|I0CK MARKET
DISAPPOINTS
bod News Has Opposite
Eject on Speculative
Issues.
'0OLS HANDICAPPED
doney Situation Prohibits
Operations on Exten-
sive Scale.

New York. March 2.-With the
anroads back in the hands of pri-
late owners and labor starting no
bot about II and with the Steel
rorporation receiving a Croix de
tuerre from the Supreme Court the
hook market went today to lower
evels. II was discouraging to the
|ptjmists.
The bear party was so surprised
hat IL forgot to make a drive. The
host confirmed bear was prepared
10 see an advance of four or five
<oinfs with such a combination Of
favorable news Not only has there
been no wild speculation recently.
But brokers' loans as q whole have
BEEN reduced to 40 per cent of what
hey were last November.
Everybody thought there was a
large short interest. but now II ap-
bears that much of the borrowing
N stocks has been for the account
N rich men who would not sell on
Recount of the income tax last year.
Now they are quietly slipping out
N their shares, and borrowing the
ttocks for delivery in the hope Of
lowering up their operations. Owing
10 the fact that so few rich men
|old at the high prices the market
lacks the buying power that would
Formally have been developed afte
+uch a decline.
The saddest feature of the mar
ket Is the action of the small rail-
foads. Statisticians had persuaded
The public that such stocks would
fnjoy a sharp rally when returned
10 private ownership. Many traders
|rho were heavy losers in the in
fustrials bought, these rails in the
h,,e. of recouping their losses. Now
they have losses in both indust~'als
Ind rails. The market is therefore
With the railroads back
Ind the Steel Corporation declared
legal. Wall Street can see no good
bews of importance likely to be
in the near future.
The only liquidation of CONNER
tial loans that the Reserve Board
Is trying to force will not increase
The supply of money. because those
|oans are represented in Federal
loans outstanding. and liquidation
bf the loans will automatically re-
fuce the money supply just so much.
Pools are therefore unable to or
frate because they capnot stand 10
Der cent call money and 91-2 per
cent time funds.
Although the petroleum stockt
hre favored by all market analysts.
they were among the weakest on
the list. Some of these companies
hre doing remarkably well. Mex
Ecan Petroleum expects to sell 40,-
Doc. 900 barrels this year. and di-
rector of the New England Fuel
Company said today that his con-
eern would earn $50 a share in 1920.
The Washington herald., 1920-03-03
HEAVY EUROPEAN BOND
SALES "0VER THE COUNTER

One of the main reasons why the
railroad bond market has not shown
a better response to the era Of good
feeling ushered in by the railroad
legislation and the return Of the
roads to private control has been
tho steady pressure of sales for for
eign account.
Europe has been a steady-seller
here for weeks. Some Of these bonds
have been sold through the New
York Stock Exchange. but a much
larger volume has been handled
"over the counter" In one week
recently s6.0oo,0o0 of old line rail-
road mortgage issues came in from
the other side A block of approxi-
mateiy $500. 900 in bonds OF one
road was sold the other day. These
offerings have been well taken by
this market, bond men say. consid-
ering the general attitude of in
vestors toward rail bonds.
The Washington herald., 1920-03-03
HUGE DROP IN
A. ]. EARNINGS
Income for Last Halt Of
1919 Causes Surprise
In Wall Street.
FLETCHER EXPLAINS
Company S Head Says
Small Domestic Business
Direct Reason.

Surplus earnings OF the American
Locomotive Company dropped from
$6.04z.0s6 in the hrst half OF 1913
TO s1,7o1.170 for the last six months
of the TEAR. The respective equfva-
lenfs on the common stock. after
preferred dividend requirements
were $24f share and s6.sl .
share.
Gross earnings for the last half
of the year. amounting to s20.630.-
os3., compared with sfy.443,4ss for
the FIRST half. For the full twelve
months the total earning9 were
s70.115.5S1., contrasted with $10s.-
s13,524 for the fiscal year ended
June 80 last The report issued
yesterday was in conformity with
the company's previously announced
plans TO make its fiscal year cor
respond with its calendar year.
The balance available for diyi-
dends for the caiepdar year was
equal to s30.98 a share on the COM
mon stock. compared with $f1.5o q
share earned in the last fiscal year.
last half of the year, Andrew
Fletcher. president Of the company.
said:
The business Of the company for
the six months ended December IL
1919. as was anticipated by the
management was of low volume
due to practically a complete alb
Esence of orders from our domestic
railways. The orders taken were
largely from foreign railways. and
were both on q cash and on a de-
ferred credit basis. A larger volume
OF foreign orders on deferred
credit basis could have been taken
but the securities offered were OF
a character that in our opinion rep
resented unusual, commercial risks
and were theref>re declined
The plants averaged for the si1
months period but 2e.2 per cent
tonnage production OF their rated
capacity and for the month Of No
vember. 1919, but 12.5 per cent OF
capacity"
From the ss.oss.5ss pronts of the
last half year Mr.. Fletcher said
that there had been deducted q re-
serve of s461.39s for income and
profit taxes. This left q net profit
Of 32.577.170. compared with ss,s17.-
oss for the first half of the year.
The Washington herald., 1920-03-03
BALDWIN LOCOMOTIVES
FOREIGN TRADE DRIVE

The Baldwin Locomotive Works
|is making a big drive for foreign
business and at present the COM
|pany has nine representatives in
THE United States and twenty-seven
agents in twenty-four foreign coun-
tries. In a few cases the company
As Represented abroad by native
business houses, but in the major
|ity. of cases new Offices have been
Opened and equipped with STATS
who received their training at the
shops here.
The Washington herald., 1920-03-03
GRAIN SHORTS
BADLY CAUGHT
Crop Reports Advano
/ Prices Sharply as Shorts
Rush to Cover.
|LO ONO BUYING APPEAR:
Whole Situation Show
Pronounced Tendency
For the Better.

Chicago. March 2. - The B. "
Observation-Disclosures special repor
on farm reserves for corn mad
public today was construed by tb
trade as buIIish. and following tb
p. c. Goodman-clement Curtis fg
ures Of Monday. seemed to -toD
up" the entire trade to take part n
buying bee"
Mr.. Snow places that part Of tn
corn crop carried over at 35.4 pc
cent. or 1.e11. .oo0. 200 bushels. Usin,
the official estimate Of the crop TN
reserves would be 1.oS2. 900 90
bushels. The crop distributiol
from November 1 last to March ]
1920. appears as 1.s57. .ooo. 900 bush
(e1s. against 1.737 900. 900 bushels 10
the same period a year ago.
Covering by shorts and actiyit'
| among buyers because of the snoy
report sent corn prices up zk TO 81
cents. Those who sold early In tn
belief that values had advanced "a
enough were forced to cover thei
outstanding contracts later a
losses.
Cash corn was to { cents highe,
There was good demand for tht
grain.
Oats showed advances Of ~ b
az. the markets showing q stron,
tone. Cash sales were exceptional
ly light at advances Of 1 to cent?
Rye was strong. going up az Z,
AZ cents, while barley was cent
higher. The strength In barley wa
on the fact that several States hay
voted to legalize beer.
| Hog products ruled firm TIL
strong grain markets and an ad
vance in the price Of hogs here wer
the principal Strengthening infiuen
ces. Cash prices for provisions wer
irmer.
The Washington herald., 1920-03-03
"o'h' ~ STOCK MARKET

1t is the confirmed opinion of! one
of the dearest thinkers among Wall
Streets bankers that money rates
have risen to a level along which
they will travel for a considerable
time to come. Apart from minor
fluctuations in rates from day to
day, he does not expect to see any
further serious squeeze.
But at the same time he does not
anticipate any marked Improvement
in the Immediate future. Stock
market prices. in his opinion, will
go somewhat lower before the de-
cline has run its full course. Then
there will be a period in which pri-
ces will keep on a fairly even keel.
which will be followed by SUBJ
stantial upswihg.
The Washington herald., 1920-03-03
BANKERS DISCUSS
CREDIT PROBLEMS

Bankers are continuing to give
close attention to the domestic credit
situation. II became known yes
terday that a conference OF bankers
was held one night last week at the
Metropolitan Club. New York, at
which the matter of the stock mar
ket loan account was considered.
what the result of the conference
was Is not known. but IL is under
stood that the bankers agreed that
the Wall Street loan situation was
wen In hand. Another conference
Of bankers is reported to have been
held last night at the Metropolitan
Club, when the problem OF STABILIZE
INK the dollar received attention.
The Washington herald., 1920-03-03
MONEY.

Eew York, March Mooney on
tall on the New York Stock Ex-
today ruled at 10 per cent
Rll day.
Time money market was firm
with rates unchanged. Funds were
still difficult to get and the supply
|was scant. Rates were quoted at 8
|to 50 per cent for loans on all in
hustrial collateral and S19 to per
|cent for loans on mixed collateral.
The mercantile paper market also
showed little change, rates for high
|grade paper being quoted at 6A per
cent while rates for names less pop
|ular were quoted at per cent.
Business was mostly for the ac-
|count of out of town institutions.
The Washington herald., 1920-03-03
WHIPSAWED.

Many folks have the idea that the
professional floor traders on the
New York Stock Exchange never sell
at loss. Nothing is further from
the truth, take II from a prominent
floor trader. "Since the first of the
year." said he yesterday. IT have
lost about s125.000. have lost
money on the long side and have
lost money on the short side" A
good many other traders have been
having similar experiences. The
market has been such that they
have found 1t extremely dificult to
catch the swings right.
The Washington herald., 1920-03-03
PENNSYLVANIA REPORTS
HOLDERS OF STOCK

The Pennsylvania Railroad an
nounced yesterday that, on Febru-
ary'1 it had 120,313 stockholders, a
gain of 2.5SS for the month of jan
uary and the largest number ever
reported. On February l the aver
age holdings of each stockholder
was S2.99 shares against S4.S2 on
January l of this year and s2.4s on
January l, 1919.
Careful inquiry in reliable bank
ing quarters disclosed the fact that
the Increase in the number of Penn
sylvania shareholders to q new high
record is due to steady selling by
foreign holders. The stock thus be-
ing sold by European holders Is be-
ing taken by small investors In this
country.
The Washington herald., 1920-03-03
To Handle
Increased
Ru~fn>1S
FINANCIAL NOTES.

The Mercantile Bank Of the Amer
icas, New York. announces the OPEN
ing at Puerto Cabello of the fourth
branch of its Venezuelan affiliate,
the Banco Mercantil Americana de
Caracas. According to recent figures
So per cent Of Puerto Cabello's ex-
ports go to the United States and
81 per cent of its import trade comes
from the United States. The export
trade is largely dependent upon the
size of the coffee and cacao crops
which are the principal exports.
The Washington herald., 1920-03-03
THE "FAIR HAIRED"
BOY AT PALM BEACH

One of Wall Streets known
professional stock market operators,
at Palm Beach at present,
bought for his own account during
the past two weeks between 125,000
and $4,000 shares of railroad stocks.
Part of the rails bought have
since been sold at profit. This
trader Is said to have held railway
shares in contempt heretofore and
was only converted into a bulf by a
broker friend.
The Washington herald., 1920-03-03
FEDERAL INCOME
TAX PAYMENTS

big Bilr' Edwards. collector Of In
ternal revenue in the district COM
prising all of the Borough Of Man
haitian. estimated yesterday that
payments in his district for Federal
income and excess profits taxes this
year on 1913 incomes will approx
mate 1880. 100000.
He expects that about one-third
of this, In round numbers approx
mately 100000, 900. will be received
from taxpayers on March Is, the
date OF the frst payment. Collector
Edwards figures that about 30 per
cent of the individuals paying the
Federal taxes will pay in full on
the 18th instead Of spreading IT
over the rest Of the year.
The Washington herald., 1920-03-03
c0TT0NSEED OIL

New York. March AFTER open,
ing lower cottonseed oil frmed VI
on short covering and good buyinl
through commission houses. SaleI
to midday were 1890 barrels
Tenders on March contracts wer
l,400 barrels.
The Washington herald., 1920-03-03
WALL STREET LOSES
AN OLD-TIME FRIEND

Fred Eberlin, who died at the age
of 75 years. was one of Wall Streets
fixtures for half century. His New
Street cafe was the gathering place
of brokers and fnanciers for years.
Fred was the only man." said q
Wall Street regular yesterday. "wfo
knew how to satisfy the thirst and
appetite of a Wall Street broker
His cocktails in the happy days be-
fore the Prohibition Age were q
Joy and q delight to his customers.
There are fmen who have since
amassed forthneSin Wall Street who
remember Eberifn as q big-hearted
who financfed them
temporarily through periods Of ad-
versity
The Washington herald., 1920-03-03
, c0sDEN e co.

New stock of Cosden & Co. is SELL
ing on the New York curb at around
s42 per share.
L Old stock OF the company Is az
IchanEeab1e in ratio OF f1ve old for
The Washington herald., 1920-03-03
LOCAL SECURITIES

Washington stock Exchange.
SALES.
Washington Railway and Electric pfd.. .
at 81.
washington Gas. 10 at 49,.
Old Dutch Market COM, 80 ut 4j5, 100 at
Az.
Old Dutch Market pfd.. 100 at 1oz. 100
at 10h, 100 at 10A. -..4
AFTER CALL
washington Railway Electric pfd., Is at
81, 10 at 81. 10.
Ianston, 10 at Slk. ....
The Washington herald., 1920-03-03
HIGH RECORD PRICE
FOR CRUDE OIL

Pittsburg. March 2.-Pennsylva-
mia crude oil took it's second Is
cent leap in two days. when the
Seep Agency today announced q
price of $6.10, a barrel. This es-
tablishes new high record.
The prices paid for oil Of various grades
by the purchasinR afeuryes arc: .Et,.
The Washington herald., 1920-03-03

Before buying securities it
might be well to investigate,
the solidity Of the security as
ven as the house advising its
purchase. Hundreds of mil
lions Of dollars are taken from
an unsuspeeting public each
year BY scheming individuals.
The Washington herald., 1920-03-03
MisceHaneous.

MEXICAN PErRoLEUM.
The company declared its regular
dividsnds ysstsrday. <
The Washington herald., 1920-03-03
hank CLEARINGs.

s:s 60 .';:s ;::.;. ~ sss s''.''
The Washington herald., 1920-03-03
National Bank
Trust Company

American Security and Trust. 225 -,
Continental Trust. .......... Ill n
National Savings and Trust. 215 2s
Washington Loan and Trust. 2ls .,
The evening Caledonian. [volume] (St. Johnsbury, Vt.) 1918-1920, 1920-04-26
Exhibit of Russian
Articles at Museum

The Fairbanks museum classroom
is the center of a great deal Of unus-
ual interest these days because of Nj.
Rand's fine exhibit of Russian articles
The first to greet the eye of the men
and boys perhaps IS the great coat of
reindeer fur and the other garments
adapted to the life in northern Rus
sia, also the skins from which these
garments are made. The holiday at
tire of the peasant women, especially
the gay head dresses, are most at
tlactive The fine thread laces and
the many towels appeal to the women
and girls. Coins of Russia, a samovar
and other household utensils made of
brass, numerous ikonS and other culi-
os, as well as pictures taken by Mr..
Rand during his time in L-.ssia and
the passports which enabled him to
get about the country are included
in this most interesting collection. It
is pleasure to announce that the eX-
hibit will remain here for part Of
the coming week.
The evening Caledonian. [volume] (St. Johnsbury, Vt.) 1918-1920, 1920-04-26
Watch the Clock If You
Are Taking a Train
Continued from first Page)

The change in the train service nee
cssitates closing the mails at the post
office one hour earlier throughout the
day and Postmaster Gleason announc-
eS the following hours of closing
For the morning mail south, T Il. NJ. !;
for the accommodation north, g a.
M. for the afternoon mail, p. m.
The mail westbound that leaves here
now on the 4. m. train --.:'' - clos
ed at the post Office the night before
and anyone having mail after that
time should mail it at the train. The
carriers will not change their Sche-
dulles in delivering local mail
The Caledonian-Record has adopt
ed the new schedule as it follows tho
trains and the new schedule OF. the
Associated Press. The paper will go
to press each day at , o'clock. This
change makes it extremely important
that all advertisements and news
items should be sent to the office the
afternoon before publication or early
in the morning of publication.
The evening Caledonian. [volume] (St. Johnsbury, Vt.) 1918-1920, 1920-04-26
Vermont Leads All
States In Health

BURLINGTON, April 24-Ner-
mont again takes the lead among the
states in matters pertaining to health
of its citizens according to an an
nouncement made today by Dr. c. ).
Dalton, secretary of the state board
of health. He said that the infantlle
paralysis department of the board IS
to take up the study of the disease
commonly known as sleeping sickness
and make such experiments and IN
designations in the state labratory as
are found expedient to gain thor
ough knowledge of the disease which
is becoming prevalent throughout the
country. There has been very little
of the disease in Vermont up to the
present time in fact only one case has
been reported, this being a patient IN
Newport, who died.
The evening Caledonian. [volume] (St. Johnsbury, Vt.) 1918-1920, 1920-04-26
w. Charleston Church
Oversubscribes Quota
Especial to the CaIedonlan)

Especial to the oaledonlan)
BURLINGTON, VT, Apr. 24-At
the Baptist and congregational inter-
world church movement here it wa
announced today that the first Yer
mont church of the two denomlna-
tons to secure their quota of the pre-
sent canvass were the Federated Ban
fist and Congregational churches IN
West Charleston. The combined quo
tas of the churches for the tour-year
period were $2452 or $G13 a year.
They have pledged $2932 or $3.50 a
vear-18 per cent more than Their
quotas.
The resident membership of the
two churches is Ga. Average per
member for the four years, $43.63 or
over $11 per member per year. II
this average were kept up throughout
the state it would result in oversub-
scribing the state quotas by SO Is
per cent.
w. A. Dawson
c. C. Merrill
The evening Caledonian. [volume] (St. Johnsbury, Vt.) 1918-1920, 1920-04-26
Planning to Take Over
Plymouth Creamery

At a meeting of those interested IN
taking over the Plymouth Creamery
at St. Johnsbury Saturday it was
announced that the plan would I'M
doubtedly be carried out by May l.
though mostly on account OF weather
conditions it has been found impos-
sible to reach all the farmers that
had been patonizng the various
creameries in the chain. The sum OF
so. 900 more is needed to make the
plan workable and the coming week
an effort will be made to secure this
sum. Some of the business men who
have the bulk of their trade with the
farmers have generously subscribed
to help the deal go through and Il
any others wish to help their sub
scIiptions will be welcome.
The evening Caledonian. [volume] (St. Johnsbury, Vt.) 1918-1920, 1920-04-26
QUICK RELIEF FROM
CONSTIPATION
Get Dr.. Edwards Olive Tablets

That is the joyful cry Of thousands
since DR.. Edwards produced Olive
Tablets. the substitute for caiomel.
DR.. Edwards, a practicing physician
for II years and calomeIs old-time
enemy, discovered the formula for Olive
Tablets while treating patients for
chronic constipation and torpid livers.
DR.. Edwards Olive Tablets do not
contain calomel, but ! healing, soothing
vegetable laxative.
No gripping is the keynote of these
little sugar coated, Olive-colored tab
lets. They cause the bowels and liver to
act normally They never force them
to unnatural action.
Ilvou have . dark brown mouth =
lad breath a dull, tired leellng-sicli
headache torpid l.yer-constlpation.
you'll find quick, sua and pleasant re-
suits from one or two Of DR.. Edwards
Olive Tablets at bedtime.
Thousands take them every night Just
to keep nght. Try them. l0c and 2oc.
The evening Caledonian. [volume] (St. Johnsbury, Vt.) 1918-1920, 1920-04-26
THE HEALING
POWERS OF
CARBON GAS
St. J. Boys Experience In
Shell Hole Leads to I'M
pOrtant Discovery

There is Il physician attached to
the army barracks in Montreal, who
believes that carbon gas has grea;
healing value, and discovery OF tins
was made through the fearful expert
ences of a St. Johnsbury boy in II
she'll hole in France. The boy is Wal
ter Elliott. son of Mr. and Mrs. Fred
Elliott Every one is familiar with
the story Of his rescue. After lying
IS hours in a shell hole shattered
hip submerged in water, and given up
for dead, he was found by comrade
who had persisted in the search and
carried him to safety. The case wa
at first considered hopeless but today
ne is comparatively well and is in
Taunton, Mass, acquiring a useful
vocation.
Physicians who watched his milac-
ulous recovery accredited it to the ac-
ton Of the carbon gas in the water
filed shell hole in which the boy lay
two nights and tw days. This fact
was brought home to ST. JohnsbulY
by an accident at Richelieu, p. O.,
where young mans arm was mang-
led between pulp rollers. The local
physician said the arm must be am
putated at once, but Olville Bryant.
head chemist of the Richelieu Paper
and Pulp Co., in whose plant the ac-
cident occurred, rushed the patient TO
Montreal in an endeavor to save the
ann.
There's only one man who can do
it" they told him in Montreal and the
boy with the mangled arm was take'
10 the army barracks. There a ply
stefan from overseas, one who had
watched the remarkable cure of young
Elliott, put the arm into solution OF
carbon similar to that in the she'll
hole in France. For days this treat
ment was kept up, according to MI.
Bryant, and the young man now ha
practically the full use of his arm.
Nj. Bryant is a nephew of r. A.
Moore of St. Johnsbury and in tell
ing the story inquired for young Ell
lott whom the Montreal physician
said was responsible for the discovery
of the beneficial effects of carbon ga
American Throat Tablets are now
on sale. adv.