davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1920-01-04
Stocks IN DEMAND;
sHORTsA[ARMED BY
EASIER money
Professional Spectators at
Board Responsible for Most
of the Days Business.

The unexpected decline In the price of
money late on Friday to what Is re-
garded now as & normal basis was re-
sponsible yesterday for one Of the broad
est and most active markets witnessed
on half holiday in many months. Trans.
actions in the two hours of business
amounted to almost 100000 sharts, equiv
alent to more than 100000 shares for
a full session. Almost every issue on the
list registered q net gain at the close, with
the fina. tone decidedly strong.
The buying, which at one period In the
day caused the market to boil, figura-
tivtly speaking, came from various
sources. Professional spectators at the
board who bought and sold several times
during the session were responsible for
the major portion of the days business,
but so-ealled tax adjusters we're ex-
tremely busy endeavoring to replace hold.
Tags sold to- establish losses in income.
In addition to that there was consider.
able covering by shorts, fearful of run
away market this week in the event Of
fayora bic developments in connection
with the peace treaty, with railroad leg
isleti and with one Of the other mat
tcrs Of market Influence pending in
Washington. = l-..,. .-,-. -, g~.
Pools of course took advantage of the
situation to mark up prices. That was
particularly noticeable in some of the
early manipulated food stocks. at+
The bank statement issued after the
close of business on the Stock Exchange
explained the ease in money. Banks have
increased their surplus reserves largely,
showing vast Improvement over the
condition of two weeks ago, when a de-
ficit was registered. Funds accumulated
for January l disbursements are return
ing to commercial channels and are swell
ing the reserves of the banks. r@s,
Demand for steel stocks was one Of the
significant features of the day. Quotations
for those issues were advanced to the
highest levels they have touched since
November last. United States Steel com
mon at 10SM registered a new high level
for the movement. Republic Steel crossed
124; Bethlehem Steel crossed par and
minor steels were also very strong.
Equipments, oil and motor stocks all
were active and strong. Studebaker,
General Motors, Baldwin, Sinclair Oil and
Mexican Petroleum being features. Rub
Der stocks were led by United States Rub
Der, which established new high mark
in its history. Other stocks To reach new
high marks included American Inter:
national and International Paper. Good
rich gained 3ss points and Kelly Spring
field 27s points. American Can was
bought for pool account to the accompani-
ment of renewed rumors of dividend dis
bursement. t..ss "
Certain railroad stocks were active and
strong. They included Reading and
Southern Pacific. The belief is that dc,
velopments of constructive character
may be expected in railroad legislation
soon. .
The New York herald., 1920-01-04
Copper Outlook
Improves; Foreign
Inquiries Increase
Following is a

With copper quoted at 10 cents a pound
for January delivery and at Is% cents for
export, the larger companies are more
than optimistic over the future OF the in
dustry. Sales OF metal during the last Eve
weeks have been larger than any previous
period Of 1918.
large number OF inquiries have been
received during the last week from Euro
bean and Oriental corporations Several
large shipments OF metal have been made
to France. England and Japan. Those
countries are buying the metal on cash
basis.
When credits are established Germany
Will enter the market for q large tonnare.
When the armistice was signed thar coun-
try was practically without metal
Lack OF credits and the demoralizcd con-
dition Of the foreign exchange market have
been the factors that have prevented Eu-
ropean countries from buying as much
metal ag they want. One large copper
company recently estimated that Germany
alone Will contract for more metal than Is
now above ground in this country.
With marks selling around two cents the
German companies have been compelled to
pay premium for the metal. For that
reason copper quoted az 1s4 cents a pound
Is costing them more than twice the
amount IL would under ordinary exchange
conditions. Austria also is In the. market
for a large amount Of metal. but the same
situation exists thsro that Germany Ia
fncing. Kronen are WORTH lees than dol
lar, being Quoted around sixty cents the
lAna, pnek. ~ af s. ~
The New York herald., 1920-01-04
CINCINNATI MAY SELL
SOUTHERN RAILROAD

CINCINNATI. Saturday.-The Cincin
natl Southern Railroad. the only tru-t
line municipality owned railroad in the
United States. may be sold in order to
provide funds with which to make needed
public improvements in Cincinnati.
The proposal for the sale of the road
Kellogg. of the First Ward. who sub.
mtted for introduction In the City Council
la resolution providing for the appointment
of n committee OF prominent citizens ia
Investigate the wisdom OF selling the road
Mr. Kellogg says that he does not look
for Immediate action. but desires to in
spire a public discussion OF the matter
He contends that the road has served the
,urpose for which IL was built bv tbe
city Of Cincinnati providing a gateway 70
the South.
The New York herald., 1920-01-04
OHIO CITIES GAS TO PURCHASE
UNION DES PETROLES co.

=. G.. Dawes, president OF the Ohio
Cities Gas Company. announced yester-
day that negotiations had been opened by
that company for the purchase Of tho
shares Of Union des Petroles D-Oklahoms.
now owned by Oklahoma Producing-Re-
firing Company. The holdings consist Of
all the ordinary and preferred shares OF
The Union company. They represent
sixty-three per cent Of the total outstand-
ing stock Of Union.
Union des Petroles owns a substantial
interest In the oklahoma Producing Re-
filming Corporation Of America, which
owns oil fields in Oklahoma. Texas and
Kansas. The properties In all it's fields
are. substantially contiguous TO those of
Ohio Cities Gas Company.
The New York herald., 1920-01-04
SURPLUS IN BANKS
SHOWS INCREASE
OF s46,246, 460
Loans Also Expand According
to the Weekly Statement of
the Clearing House.

In It's weekly statement Of the condi-
ton OF. the banks ard trust companies
the Clearing House yesterday showed the
following changes as compared with the
previous week. .
Actual Condition.
Loans. discounts, &C.. $5,s7s. 776,o 900; In
crease, SITS. .2s2.o 900.
Net demand deposits 81. .ls7. .l57, 900: in
crease, $135, ,ce3, 900.
Net time deposits. s25e. 900; Increase,
IS, ,758, 900.
Circulation, $sSs7,vo: decrease, $4,000.
Cash in vaults Of member banks, $685.
1881 900; decrease S.147.00o.
Reserve of member banks in reserve
banks, $5SS. 1864. 900; increase, $64, $780,.
Reserve in State banks and trust COM
Ipanies. $12 .0S. 900: decrease, 1924. 100.
Reserve In State banks and trust COM
lpany deposits $1l PIG, 900: decrease, 1923, 900
Aggregate reserve, ssh, COS, 600; increase.
ss3 935, 900. .-.', f'h'-
Reserve required. s557 7,12s.ooo; increase.
Surplus. s54.47s.ooo: increase SAG. .s4s. .4so.
! 'United States deposits deducted s31l,-
dS4, 600.
Average Condition.
Loans. discounts. s5.e72. ss7 900; increase,
NJ
E''Net demand deposits. N.14s,s7e,oo In
crease $s4.3 900
Net time deposits. s2ssoss, 900: decrease,
sS7S, 900 ."S
Circulation. $se.s1 900: decrease, $4,000.
Il Cash In vaults OF member. banks, S11l,-
4o3, 900; increase, $3.171O0o
Reserve Of member banks in reserve
banks. s5S2.77 900; increase. s2S, ,ao5. 900.
Reserve in State banks and trust COM
panies, $124S6,0 900: increase $14S.OO0.
Reserve In State banks trust companies
and repositories, $11,lo7.oOo; increase
$3.50 900. = -.-'t~ = ~ ..4.s .&:A -
Aggregate reserve, s5ss, ,sss, 900: increase,
I$26, ,913 600. .s
Reserve required. ,ssi.sss.4so; increase
Excess. ss4.s7. $50; increase. 81. .s5s. $50.
'United States deposits deducted, $24o,
|o34 900.
Non-Member Banks and Trust COM
"t' pnnies.
Loans and investments. ss12, ,<so 800; in
crease. 81, ,456. 100.
Gold, s7.e4e. 400: increase. $3.50
i Currency and bank notes, e,o54. 100; In
crease. $l31 600.
Deposits with the Federal Reserve Bank
Of New York. $s0.475. 500: increase. s., ,6O4. 500
Total deposits, $s04 10. 300; increase, s23.-
7k6ssa00.--,> ..,.~--,..,. +. ~.,. .a ~, -,
deposits. sse, ,:s3,O 100: increase, s1s. .4so 600.
Reserve on deposit, .Si57 ,423. 200; increas Sc
tSSi4. 800 s-l
l:siPer cent Of reserve. 2f3: Increase, 4.
.'Eliminating amounts due from reserve
Repositories and from other banks and
trust companies In New York city. ex-
changes and deposits by United States
government proceeds of sale of bonds.
The New York herald., 1920-01-04
EXPANSION OF LOANS.

The big increase in the item OF loans and
investments undoubtedly is accounted for
by purchases Of the new ~ per cent GER
tificates Of indebtedness offered last week.
Proscceds Of such nvestn ents by banks are
Immediately credited to- the government
and figure as government deposits without
actual transfer of funds. thus accounting
for the biz increase In government funds
held by qualified banks AZ no reserve Is
required against such deposits the banks
we're able to show a large increase In sur
plus reserves IN spite of n gain Of $780,
100000 in net demand deposits, against
which reserve must be held This increase
in demand deposits In turn represents
funds disbursed as January 1 interest and
dividends ard Immediately redeposited by
the recipients
RENEWED STRENGTH IN RAILS.
Reports from Washington that con-
ferrees on the railroad bill had agreed TO
insertion OF "a clause giving to the Inter
. ate Commerce Commission supreme au-
thority over intra-State rates was the
ignal for buying movement In the rail-
x)ad shares. While the Interstate Com
merce Commissions record In the ratio
question Is not a satisfactory one from
the investors or railroad operators Point
OF view. dt is felt that one master in rates
81 better than forty-nine. AT least much
confusion and loss due TO conflict between
State rate makers and iiitorstats rate
makers viii be avoided when they become
o7c and the same There will be one ratio
Instead Of a multjcipiicity Of rates. South
ern Pacific. Reading. Norfolk and West
e-n ard other atisndard raHS advanced
rAhsSl. sn eu.1rs, due ~ thss nsrss "
The New York herald., 1920-01-04

discounts Of commercial paper continue
to increase. They now total $23s' s'eol ,aoS.
That is an increase of $36, 100000 for the
week and of 1856 90 for the year. The
reserve position OF the Federal Bank was
impaired slightly last week, now standing
iat $S.7 per cent II total liabilities arc in
,ciuded, compared with 100 the previous
The New York herald., 1920-01-04
News and Gossip
Wall Street
INCREASE in BANKS SURPLUS.

With publication Of the weekly bank
statements Yesterday the recent sharp de-
cline IN the call money rate here was ex-
plaincd. II was. due 10 large increase in
surplus reserves or the Clearing House
banks which inftu1h was the net outcome
Of the large cnd.-sf. the years financial
operations of thes Gbycrnment and private
corporations. Eyceqe reserves OF member
institutions expanded s4s.246.46O last
week. bring the tota: surplus above legal
requirements up to $54,47s.ooo. This In
crease was brought about BY an expansion
OF 49,. os2. 600 in reserves OF member banks
in the Federal Reserve Bank. Other
changes in the statement were registered
In unusually large amounts. Loans In
creased s17s.2s2. .0oo; demand deposits ex-
elusive Of government funds gained sl3h,-
$4,000. while government deposits In
cree sod Sss GA. 900
The New York herald., 1920-01-04
FEDERAL RESERVE. BANK
ISSUES WEEKLY Statement

3
. WASHINGTON, D. c.. Saturday.-The
combined resources and liabilities of the
twelve Federal Reserve Banks for the
week ending january Q follow
Resources.
Cold and gold certificate tes, So39, ,6Oe o00
GO Gold d. settlement % fdnd Federal Reserve Board
Gold Win so5esn agencies: s,sl. 81 $sc s, coo.
Gold. with Federal Reserve agents. 81 .c05.-
Gold redemp,ion fund: sla9; .,rs se7 ;Soc.
Les sss ssnder sald ressasss sotes s2ss
Total reserves. s2.i2i. ..72; 600.
Xli othes s74s.s 900.
Fos Fs eSnEA sHs On II haSs Sefn i. sses
ni,ed n,sd stass satss yc,nrT ns
United States certificates Of Indebtedness.
4o.. Al Y'ssr ssrnias fasnns a.s.s assets nf1s
Bank prrmises $40 $50 900
res n"eosssa sposs snf7 aaS SeeF deductions fF0n
Five psr een, redempticn fund fund against Federal
Nil other resources. 81. 7l3 900.
Total resources. 81. 5O4O OoO 900.
,. Liabilities.
Capital paid in. ss5; ;4as.co
Surplus. Si2D. 12o. .OOn.
Government deposits. SIS. .020 900.
Deferred avalabiiity Items. 1914. .ss4.oo0
credits. siIs.8O7 200.
Total gross deposits. 81. .o2o. .s11 900:
60 Fsderal ed raj & Deserve notes in actual circulation
! Trderai Reserve bank notes In circuls tion. net
liability. S2SS ..G1 00O
Total liabilities. s6.5oI 100000.
erai Reserve note liabilities combined. 43.7 pc:
in circulation after setting aside IS pcr cent
against net deposit liabilities. 4s.5 per cent.
The New York herald., 1920-01-04
CHANGES IN BANKS POSITION.

A new departure In preparation or the
weekly statement Of the Federal reserve
Bank statement is the publication. begin
ming yesterday. OF comparative statement
as OF the week previous and OF the cor
responding week for the year 1919. These
comparative figures show at a glance
what changes are taking place IN the DO
sition OF the bank. The current report
compared with that OF tho previous week
shows further decrease In the item oi
Idiscounts OF war paper OF a little more
than 100000. That Is to say the pember
banks succeeded In scaling down theii
own loans az the central bank by that
lamount These loans now are slSoVpU'
smaller than they we're on the correspon q
tns aay yeag asa On ths esn~ seeA
The New York herald., 1920-01-04
Foreign Exchange
Rates Irregular:
Sterling Advances

The general tone of foreign exchange
yesterday was irregular. Sterling and
French francs made fractiontl gains,
while Belgian francs and lire were weak
Danish. Greek and Swedish rates were
soft. Pesetas were strong German marks
and Austrian kroren broke sharply to new
low levels. - .,F
South American exchange was firm.
Australian sterling made fractional ad-
vances, while other Far Eastern exchange
was steady.
The following rates were quoted on the
principal foreign exchange markets at
the close Of business yesterday
The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1920-09-30

Ham: How nurposed, sir. l pray you?
Cap; Agains, some part OF Poland.
Ham: Who commands them, sir?
Cap: The nephew to old Norway,
Fortnbras.
Ham: Goes it against III. 1r,ui,, of 70
land, sir, or for some frontier2
Cap: Truly to speak, sir. and with
no addition.
We go to gain little patch of ground.
That hath In 1t no profit but the name.
To pay Ave ducats, five, l would not
farm It;
Nor win it yield to Norway or the
Pole.
A ranker rate should 1t be sold in fee.
Ham: Why, then the Polack never
will defend 1t.
Cap: Yes. tits already garrisond.
Ham: Two thousand souls and 20, 900
ducats.
viii not debate the question OF this
This is tn mposthume of much
wealth and peace,
That inward breaks, and shows no
cause without
Why the man dies. humbly thank
you: SIR.
To my shame. / see
The imminent death Of 20 600 men.
That FOR a, fantasy and trick OF fame
Go to their gravelike beds; fight for
n plot
Whereon the numbers cannot try tho
cause:
Which is not tomb enough and con-
tinent
TO hide the slain.
The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1920-09-30
De BATERS BRING
OUT THE ISSUES
Republican and Democratic
Candidates for Governor of
S. d. Warm to Subject
in Third Meeting.

Armour, =. D.. Sept 23.~4'Fhe third
of the - scheduled debates under the
Richards primary law between the
republican and democratic candidates
for governor took place here We'd
nerdaY night with both candidates
running in good form, showing that
they are getting used 10 the saddle.
Mr. McMaster. the republican can
didate, still talks national issues. The
charges he made against bis demo-
cratic opponent, Mr. Iowes, as at
totney for the Midland Packing Com
pany were explained by Mr.. Howes
and MI McMaster admitted his mis-
take.
Nv ltowes attacked state officers
and appointees for electioneering in
other states while drawing salary
from the state.
Mr. McMaster offered an efficiency
expert plan for the state setting it up
against tho plan offered by his OPP
poncnt for the consolidation of com
missions.
Mr.. Howes made IL vigorous attack
on the office of state sheriff, owing to
the latitude given that officer in the
matters of deputy appointments.
while MeMasters defended the office.
The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1920-09-30
"Open Diplomacy and Private
Debate
From tho New York Times.


ter from te point Of view Of David Lloyd George
sp"n book THE Prime Minister For 81 years MI spendsr wen
George. .
Times as he himself desired to have them
George the
which the forced to operate
follows
of @ ssf s e v Tehfa ss0qsh S by main
. ] :: s eye; ssss s II p f. g .ssss e. ] ss
r s % "o s 2e The peace peace r rot BE @
":s s &c.,: :S$: s s si I'll s aS 5
= $;:,; :: Z; :;;:
g; X . :s Is: i f.. s$
( @ 3 om as ssS G3d repeat wa Go en h Believe a %
.s FL 4 y S 4! ss? @ e. s s!s
British the initiative for We
oanz is outside the real orbit Of Poland Make it international
ing state but not to enter It's existence by naicng others the crime
On the Rhine valley Lloyd and Wilson
stood IN opposing the French claims once more %
wsh,nan best
Persuaded h reden ppone appeal
precisely
n Just es as yh p the e snpea ~s s l
Wilson acted with his usual high and simple honesty Mr. spenaer com
macy did not secure conspicuous triumph
PLANTATION of the mai reduction Big
the Big Three the author With 10
ons We're possible Explosive greeds
preliminary private
&c the had been published great popular emotions would
lasted wee. No advocate Of open diplomacy will
weight TO this opinion
The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1920-09-30
DEMOCRATIC CANDIDATE
INvADEs q. q. TUESDAY

Sioux Falls. y. D., Sept U.-~Govs
James NJ Cox democratic candidate
FOR president, viii begin his tour Of
South Dakota Tuesday morning at
aitb o'clock, when he will deliver a
short address at nix Point.
Governor Cox will arrive IN Sioux
CITY early on the morning of Tues
day September "a, and will depart on
the tour at 40 o'clock after deliv-
pfns short address,
A fiyeAminute stop will be made al
mix. Point. after which the candidatea
train will depart for Vermillion, aud
he will make another five minute
stop at 1850 o'clock. He will spend
40 minutes In Yankton, arriving there
Mt 10 o'clock In the morning. A five
minute stop will he made at Scotland
at II o'ulock and at Trip at 1t.ao
o'clock,
Arriving at Mitchell AZ o'clock In
the afternoon, Governor Cox will re-
main there for two hours, during
which time he will deliver a street
address
stops will be made FOR five minutes
aF fcilows; Alexandra, asab o'clock.
Emery. slab o'clock: Bridgewater
aslb o'clock. Parker, o'clock, Len
nox, sac o'clock, and Canton, G
a'cleelt.
Governor Cox will arrive In sioux
Falls at I.1s o'clock. where a big
democratic rally will be held during
the evening.
The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1920-09-30
Another Treaty "Peril"
From the New York Post

From the New York Post.
The facts about the fatal discrep-
ancy between the English and French
texts in the covenant Of the league in
reference to the Monroe doctrine. lust
discovered by Senator Harding, arc az
follows:
The English text says that nothing In
the covenant ''shall affect the validity
OF regional understandings like the
Monroe doctrine" Th q French text
tays Regional understandings. like the
Monroe doctrine are not incomna t,ble
With any OF the provisions OF the pres-
ent pact" II is a triumph or the ere.
alive imagination to find any difference
in meaning between the two state
menta.
Connecting that any difference : OF
meaning between the two statements
could be discovered by trained aia.
lestieian. the II atty 81 Versailles de-
.lares that both the Inglish and ths
French texts are equally "authentie'i
or authoritative. And If there lie any
desire 10 go behind this plain ,,eaiara=
tlon, there Is the fact Of ea,nmop
Knowledge, that as far as the eayesa nj
Is concerned English was the erigina,
language and French is The translation,
The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1920-09-30
CHILD 10 LECTRoCuTED
WHILE HE Is AT PLAY

Dalls s. D., Sept. 2T..--5Leland
Brunjng, II, son Of Mira. Maude Brun-
Ing, was electroeuted here while play
Ing with ether boys on the top Of
building adjoining the old Dallas mill.
The boy put both hands on one OF
the main lead In lines. which ear
ries the full current supply from Win
ner to Dallas. The tin roof OF the
building acted as ground" for the
electrical charge, and the current
passed completely through HIS body.
the inetai OH the rVot where tfte poS
feet touched was melted.
After receiving the shock the
sehild's body fell across the wires aud
the clothing was burned,
The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1920-09-30
OPINIONS CLEAR
UP SOME POINTS
Attorney General Holds Bid
ders for Road Work Must
Give Bond to Secure
Contracts.

Pierre. S. ~. Sept 27--Oplnions OF
| general interest which have recently
been rendered cover several different
| subjects, two of them on highway
matters, which are prominent just
now in this state under the highway
Improvement work which Is In pro-
gress. One OF these covers the mat
ter of contracts for highway work.
In this issue apparently was one
where bid had been given n county
al rate so low that no surety com2
pany would agree TO write bond for
the completion of the contract, and
tho contractor who made the bid ap-
parently was not in position to pro-
vide a personal bond. This is held
~ be an invalid contract, as the high
way law requires all contracts to be
completed under bond for completion
OF the work. Apparently the county
could get the work done cheaper I'M
der this contract than under others,
uut the iaoR or POND In neld TO place
the contract where II would not DO
binding on the county.
Another highway matter is whether
or not Hanson county can legally pay
for the markings which were put UP
on the Custer Battlefield highway
across that county, and In this It is
held that while under the law coun-
~ commissioners arc required to
plainly mark highways, that before
such action can be legally done the
highway to be marked must have
been officially designated by the state
highway commission az legal high
way.
May Not Store Game.
Another opinion which Ia OF interest
to hunters at the present time and
under existing weather conditions IL
that under the law ae II is drawn, X
ia illegal to hold game birds in cold
storage In this state. The opinion
holds that the legislature might make
such provision IL it SO desired but
AS they did not take such action IL
was evidently Intended. by them to
prohibit such holding OF game, birds
in this state.
County auditors have inquired "a
to the scope OF the election law in Tho
distribution OF sample ballots Ap-
parently there are different provisions
covering this, and these different pro
Visions are construed by the after
ney general to mean that sample bal
lots, both OF the constitutional
amendments ana referred laws. but
those containing the names Of the
different candidates. are 10 he sent
TO the voters of the state. The issue
was raised "a TO whether any other
ballots except those covering the con-
stitHtional amendments or the re.
ferred laws need he sent out.
II is also held that clerks OF courts
may retain feee paid to them In car
rying out the federal naturalization
1awa,