davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1920-12-11
U,S.Chanber
Asks Speedy
Budget Lau,
Appeals to Member Com
merce Bodies to Seek
Conaress' Action.

An appeal to the member organ
izations of the United States Cham
Der of Commerce to ask Congress
to act Immediately and pass the
budget legislation, was sent out
yesterday by the committee on
budget and efficiency OF the cham
Der. A budget bill was passed at
the last session of Congress, but
vetoed by President Wilson, and
Congressional leaders have indicat-
ed that they might not reach 1t for
repassage at this session Of Con-
gress.
IF the passage of the budget law
rs postponed until the next Con-
gress," says the committee, "the
delay will surely be embarrassing
to the incoming administration In
Inaugurating a budget system ana
will considerably delay the begin
ming of the operation OF the system.
In view of the fact that the diff
ference between Congress and the
President which led to the failure
of the bill as first passed, relates to
a feature that does not affect the
budget feature of the bill, strictly
speaking. and Is one capable of ad-
justunent by later action. the conn
mittee believes that 1t would be un-
fortusnte. in the extrtmc for capr
gress to tan to pass the bfif m lis
amended form so as to conform to
the Presidents wishes at this ses-
sion OF Congress.
Under the act. estimates for ap-
propriations for the fiscal year end
ing June 30. 1923. Will have to be
prepared during the summer and
early fall of 1921. The preparation
Of these estimates for submission
to Congress by the President would
be made in the first instance by the
Budget Bureau. The task is a
heavy one. The Budget Bureau
should accordingly be thoroughly
organized as soon as possible after
March 3. In fact, IL the system
is to be of real help to the incom-
ing administration in its first year,
the organization of the bureau
should be under consideration and,
II possible, settled before the Pres
ident-elect takes his oath of ONCE.
"All the facts in the situation
clearly point to one wise course
for Congress to follow, namely, inn
mediately to pass the pending budget
bill, leaving to the next Congress
such amendments as to details as
may seem WISE"
The Washington herald., 1920-12-11
Orat0rio Features
ChanailIedh Program,

An ,oratorio on Judas Macca-
baeus." from the. opera by George
Frederick Handel featured the
sixth day of the. celebration OF the
Feast Of Channuksh.' at the Eighth
Street Temple last night. Previons
to the -oratorio. DR.. Abram Simon.
rabbi Of the temple. conducted brief
services. -
Those who participated in the ora
contradict: Louis Thompson. tenor.
and George miller. bass: assisted by
Miss selma Selinger, soprano: Mrs.
Gertrude Miller. eontrslto; Herbert
Aldridge. tenor and Charles r. Titt-
man, bass. Lewis Atwster. organist
aid director.
The Washington herald., 1920-12-11
MOSES ASKED
TOURCEPROBE
In GUATEMALA
Latin Minister Requests
Senator to Study Real
Conditions.
CABRERA BRANDED
AS HARSH DESPOT
Diplomatic Precedent Set
By Enjoys Visit to
Capital.

Julio Bianchi the Minister from
Guatemala. set a new precedent in
diplomatic affairs yesterday by go
ing TO the Capitol to discuss with
Senator George H. Moses. of New
Hampshire. a legislative proposal
pending before the Senate Commit
tee on Foreign Relations.
He discussed with the Senator a
resolution calling upon the State
Department for a full statement OF
the facts bearing upon the part
played by Benton Mcmillan. Amer
lean Minister to Guatemala. In the
capitulation Of Manual Estrada
Cabrera.
Wants study Made.
Bianchi did not undertake to per-
suade Senator Moses against press
ing the resolution, but he did~seek
to have the Senator favor the ap-
pointment of an American commis-
sioner to go to Guatemala to study
and report on conditions there. The
Senator advised the Minister the
Senate had no inclination to intrude
upon the internal affairs of any
nation in such a manner.
Senator Moses listened to a lengthy
recital by Biachi OF the political his
tory of Guatemala and to a con-
of former President Ca
brera as a despot. The Senator
sought to have it understood that
the Senate's concern was restricted
to the conduct of the American Min
lister in permitting the use of the
American Legation as a place of
for the retirement by
extra unconstitutional methods of the
Chief Executive of friendly power.
Asks EIpianaties.
The Senator said he further was
the action OF Mr.. Nc
Millin in taking such action with
out instruction from or report TO
hs government and in the alleged
failure, of the American Minister
to transmit 60 the State Beuartnnent
a copy ofSthe articles of capitula-
ton which constituted pledge to
the United States for protection of
Cabrera.
Following his interview with
Minister Bianchi, Senator Moses
said 1t was the hope of Republican
leaders in the Senate to regain for
the United States the prestige en-
ioyed by this government at the
close of the Taft administration
He said there was ample authority
for the statement that during the
past seven years there had been
such a steady decline in American
prestige as to now place 1t at the
bottom. He said that applied with
like emphasis to other quarters
than Central America He blamed
the Wilson policies for political
outbreaks in Latin-American coun-
tries.
The Washington herald., 1920-12-11
Asks Why Bmry's
Name Not H0nored

Upon a request from Judge Jo-
seph p. Rogers, OF Philadelphia,
Representative George W. Edmonds.
of Pennsylvania, yesterday address,
ed a letter to Secretary Baker call
ing his attention to the fact that
the name of Commodore John Barry
had been left of the Arlington Me-
mortal. Judge Rogers made his
representations to Edmonds as pres
ident of the Society of Friendly
Sons Of st. Patrick, OF Philadelphia.
The view assumed by Edmonds Is
that Commodore Barry's name was
left on the memorial through some
oversight.
Judge Rogers pointed out that a
statue of Commodore Barry stood
on Independence square and that his
body was buried not far away.
The Washington herald., 1920-12-11

He quoted Secretary OF the Treas
ury Houston to the effect that the
deficit would reach $4,000. 100000 by
June so, 1891. the close Of the cur
rent fiscal year. He referred to the
further forecast by Mr.. Houston
that reduced expenditures during
the ensuing fiscal year and main
tenance Of the high revenue returns
still would leave a deficit on June
30. 1922. Of s1.soo.ooo.0oO:
TIE Prime Farm Problem.
TT would seem to me-" said Mr.
McCumber. that SO far as the ,agri-
cultural situation is concerned the
first, the real and sensible thing to
be done. is to stop the importations
and give the American farmer eX-
clusively the American market 50
long as he can supply that market
at living prices
Ny principal object is to reach
the ear Of thoses who are askine
fayors of the government We
want every man and every corpo-
ration who must be called upon 20
remit for taxes TO look not alone
upon his own discomforts but also
upon his country's dire needs We
want the soldier who is asking foi
Immediate action on q bonus bill
to exercise patience and forbecs
ance and TO understand the graSs
financial dificulties that confront
Congress We want our appropria-
ton committees TO cut to the bone
and to keep appropriations down to
the limit OF the bare necessity OF
government This is not time 70
even dream Of new governmental
The Washington herald., 1920-12-11
K.C. Employment Bureau
Gets Request for Airnien

NEW YoK, Dec. 1o.-A cry for
more airmen has been heard by the
Knights of Columbus, according to q
statement issued by that organiza-
ton tonight.
A mail and passenger service to
be established for the winter months
between Havana and Key West has
asked the knights to furnish eight
aviators, four mechanicians and II
mechanics laborers. The request
specified that the men must have ex-
perience in the aerial section of the
Navy.
The employment service Of the
Knights of>Columbus says that this
is the first request received for air.
men and indicates a scarcity Of men
in that work. The men will be re-
oruited at the K-C Longacre Hut
next Tuesday.
The Washington herald., 1920-12-11
ship BOARD ASKS
FOR S95,OO0,O00
FORREST OF YEAR
Officials Say This Sum Is
Needed to Keep Up Build
ing Now in Progress.

The United States Shipping Board
will appeal to Congress within a
few days for a deficiency appropria-
ton of ss5.ooo.o 900 on the ground
that without 1t ninety-five ships
now under construction cannot be
completed. The money is to be re-
quested to carry the board along
until June 80. 1891. the close OF the
current fiscal year. The board has
asked Congress for S147.sss,zSo for
the next fiscal year.
Shipbuilding operations In the
Delaware River district are repre-
sented as being involved In the imam
ciaI plight which officials OF the
board say confronts them 1t is
urged that thousands of men would
lose employment II cessation Of work
on ships now on the ways should
be necessary.
Rear Admiral william s. Benson.
chairman of the board. said last
night the situation had been dis
cussed with oficials of the Treas
Tury Department 1t was his hope
he said, that revenues derived by
the board through the sale OF ships
might provide funds for essential
work. hat that all prsparations had
been made 20 ask Congress for the
deficiency appropriation In order to
forestali possible hating OF ship
construction
Representative James w. Good. OF
Iowa chairman of the House Com
mittee on Appropriations. has in
dicated that II suficient grounds
were shown for the deficiency ap-
propriation il would be made, but
that one result would be heavy
slashing of estimates for the next
fiscal year.
The Washington herald., 1920-12-11
SENATE PROMISES
QUICK ACTION ON
DC. TRAFFIC BILL
Dillingham; Plans Early
Hearing on Plan of
William p. Emo.

Drafted and ready for the action
OF Congress- is the bill to regulate
Washington traffic to conserve life
and limb.
William Phelps Eno.- international
traffic authority, submitted the
measure to the Senate District Com
mittee yesterday. 1t conforms to
the plan he advanced last Friday
night in an address before the City
Club. At that time Mr.. Emo said
Washington was the worst city in
the world in regard to trafic perils
and that the only effectual way of
dealing with the situation here was
to organize a tranic squad under
the direction of an expert answers
able to the chief OF police.
MI. Emo, who has drafted trafie
laws for New York. London, Paris
and other cities, and whose ideas
have been widely embraced in cities
throughout the world, was anxious
for immediate action upon the
measure following conferences with
members of Congress.
Propose Quick Action.
Senator Dillingham;. who is in
charge of the Senate District Com
mittee work in the absence of Sem
ator Sherman, who is i'll, said yes
terday that the bill would be in
troduced before it is submitted to
the committee. in order that some
thing definite may be established
as a working basis. II the bill is
then referred to the committee by
the Senate, hearings will be held at
Wnich all persons and business in
terests desiring to be heard could
appear. The fact that the District
Committee will not hold its regular
meeting next Monday was made
known by Senator Dillingham; yes
terday and it was doubtful, the
vermont solon said. that a meeting
could be held before the following
Monday.
Representative Johnson's bill for
the motorization of the police de-
partment as one means of coping
with the abnormal accident toll has
oeen referred to the Military AZ
fairs Committee of the House and
action upon this measure is ex-
pected after the holidays.
The Washington herald., 1920-12-11
BILLION DOLLAR
DEFICIT MENACES !
u. S., HE WARNS
Senator McCmber Declares Rigid
Economy and Prompt Payment of
Taxes Alone VIII Keep the Indebted
ness at 81, ,229, ,9Sl, ,765 = Discourages
All Relief Plans.
By ROBERT BARRY.

Senator Porter McCumber of North Dakota ranking Rpub
can member of the Committee Finance
plain speaking the subjects
yesterday He decidedly problems
confronting the Republicans He addressed himself
manufacturers who urging the deement of the December
payments to former soldiers and sailors who desire cash bonus from
the Federal members of Congress with schemes
for the projects involving further drains the
Federal Treasury the farmers bank credit facilitate
which foreign unable purchase; the
citizen whom the whole question of and the national
situation bears intimate relation than academic discus
sions of foreign policies.
Mr. Mecumber undertook outline the financial condition of the
government pretense optimism He sub
establish his that January
there would be a Treasury deficit of SI,zzooSI.7oS.
The Washington herald., 1920-12-11
d. c. REPUBLICANS
RENAME BRADSHAW

Aaron Bradshaw was reelected
chairman of the Republican Cen
tral Committee for the District of
Columbia at the annual meeting of
that organization Thursday night at
headquarters. 1900 Pennsylvania
avenue northwest. Other officers
chosen were; Robert 1. Miller. first
vice chairman; Col. Winfield Jones.
chairman OF executive committee:
Capt. J. Walter Mitchell, secretary;
Samuel T. Kalbfus. treasurer:
Charles Gussom, sergeant-at-arms;
second vice chairman. Capt. A. A.
Thomas; third. Gen. L. w. Whit
taker; fourth. Oscar J. Ricketts,.
comfnitteemen for % voting pre-
-s.cts also were chosen.
The Washington herald., 1920-12-11
NEW ORGANIZATION
TO AID CREDIT PLAN

An organization which will be
known as the Associated Retail
Credit Men of. Washington was
formed at q dinner held at the
Raleigh Hotel Thursday night
Charles N. Keefer was chosen to
head the new organisation which
has been formed to aid reputable
residents in obtaining credit 1T
local stores. Other officers selected
are Harry v. ostcmer, vice presi-
dent; A. Coonin, treasurer; s. n.
Takes. secretary. Immediate steps
will be taken by the association to
Incorporates under the laws. Of the
District.
J. H.. Barrett and Richard Hewitt,
two members OF the national body,
were the speakers at the dinner.
The Washington herald., 1920-12-11
Horace Dodge, Auto
2 Maker, Dies, Report

DETROIT, Miles,, Dec. To-
Horsee Dodge, the automobiIe
manufacturer, died Mt Palm
Beach, Fla. today, IL was re-
ported here tonight. He Had
gone to fain Beach to spena the
winter. a..
The Washington herald., 1920-12-11
CaIifornians Hear Speeches.

The California State Society held
its annual meeting at the Thomson
School last night. Speeches were
made by G. w. McChord, Deputy
Commissioner OF Pensions. #. A.
Royse and Thomas +. Flaherty.
The Washington herald., 1920-12-11
Wilson Praises
industries Board
In Daruch Note

Presiasst Wilson's letter to Ber-
nard n. BarueA Ii rs follows,
MY dear Baruch,
wisA I could be present at the
reunisa Of the War Industries
Beard tonight.
Under your leadsrship the
board did sueh enc and fndispen-
sisie work during the great ees-
nict that I shsu1a l1lbe 10 render
my meed ef praise saa gratitude.
Please convey nay heartiest
greetings and say how much ].
personally. ~ m American. feed
Indebted to them.
AHectionateIy yours,
(signedD WOODROW WILSON.
The Washington herald., 1920-12-11

projects which will call for Treas
ury disbursements"
Quotes Treasury Statistics.
The statistics on which the Sem
ator from North Dakota based his
statements were:
Treasury balance. Dec. g.. SiGo.Ois. 2S5
Dec. - tax payments......... Ojo!oOO. 90
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09
MONEY AND EXCHANGE.
CALL MONEY.

CALL MONEY.
High .............. 10 Last .............. 10
Low ............... oRenewais ......... o
Years high ....,.. 25Yenr's low........ @
CLEARING HOUSE STATEMENT.
Clearing House exchanges, 1854, 1851 PA !:
balances, S101. 1888, 766 Sub-Treasury debit
balances, $3.50, 2ss; Federal Reserve credit
balances, SOL 900, 40S
SILVER MARKETS.
Official bar silver IN New York: Domestic,
0p1c. per ounce. unchanged: foreign, s0Ac,
off IKE: London. 537sd.. off I'D. Mexican
dollar, 61hc.. off 1Lc.
CANADIAN EXCHANGE.
New York funds in Montreal, $40 premium
per 81 900; Montreal funds In New York,
500 10 per 81 900
FOREIGN EXCHANGE
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09
Watching steel.

The years previous low of United
States Steel common was S3A. Yester-
day It touched low OF san. or within
three-eighths of point of the years
low mark. Extraor dinary interest at
tends the market in Steel because it has
become such an excellent barometer and
Indicator. and. as rule. cas- goes Steel
so goes the market" Predictions that
Steel would break its previous low be-
cause gloomy tonnage statement Is an
ticipated in Wall Street In general on
wednesday were made generally ycster-
day. The last statement OF untitled
tonnage exhibited decrease. Since IL
appeared there has been a perceptlble
slackening in business. and IT is gener-
ally expected that the untitled tonnage
will exhibit n sharp slump. The de-
crease in tonnage at the time of the last
announcement was 430.234 tons. The
decrease in untitled tonnage in the pre-
ceding month was 100000 tons. July
was the last month in which an increase
was shown.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09
GOSSIP OF WALL STREET.


Weakness and liquidation character
lied yesterdays stock market from bell
to bell, industrials bearing the brunt OF
the decline and any number OF them
recording new lows for the year. The
days decline brought averages down
1.35, to 81.51, an absolutely new low
for the year. Railroad stock averages
declined ST. bringing them down to
1921. The catching of a great number
of stop loss orders in Saturdays mar
ket and the margin calls which went
out at the end of the week and were
unanswered opened the market with a
wave of selling. Emboldened by weak
ness of stocks. professionals jumped in
and sold them heavily all day. obtaining
important results. Such stocks as Vana-
dunn Steel. Food Products. Industrial
Alcohol. Mexican Petroleum. Pan-Amer-
lean Petroleum, American Wooden and
Baldwin went through the day without
a rally of Importance and closed at the
absolute lows for the day. Call money
became an active factor In the late
afternoon. when the rate advanced to 10
per cent and accelerated the decline.
Industrial stocks melted away rapidly
under the momentum gained through
morning selling. There was said to be
considerable selling to establish tax
losses. Such buying as appeared during
the day was of the scale sort or to cover
short commitments and was not of suf-
ficient size or Importance to stop the
slide,
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09
A Year Ago.

A glance at the price at which stocks
were selling a year ago and compari-
son with the close of stocks yesterday
give a graphic idea of the twelve
months decline in the market which has
foreshadowed and forecast Industrial
liquidation and the pricking of the bub-
BILE of initiation. 1T is a Wall Street
axiom that the market discounts condi-
tons far in advance of their actual ar
rivals. Such certainly has been the case
this year. because with a few rallies in
termingled the market has assumed a
downward course for a solid year, or
since November last year. when the
Federal Reserve officials took the bull
by the horns and brought booming bull
market to a close by an increase In thu
rediscount rates The problem that now
confronts Wall Street is to pick the psy-
Geological moment when the market will
turn about and start a major upward
movement. Industrial prosperity will
return. OF course, when industry and
labor get back to normal. The market
undoubtedly will discount prosperity
just as it has discounted adversely. 1t
will be a shrewd trader who can pick
the bottom this year because Of the alb
solute lack of precedent.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09
Bull Market Hopes Fade.

Traders who have hoped against hope
for bull market this fall have hung up
their fiddle. The professional element
OF Wall Street practically has ADAM
doned the constructive SIDE and, as usu-
ally Is the case, can see nothing ahead
but lower scale of prices for all in
dustrials. Rallies, Of course, are antici-
pated from time to time, when the mar
ket becomes technically oversold. but the
last two trading days have done much
to. undermine the confidence of those
who were sticking to the long side of
stocks. The exception was in the rails.
Southern Pacific distinguished itself
yesterday by advancing IL points in
the face of the tide. Dividend paying
rails and such small rails as are likely
to figure in mergers with trunk Bnes
are selling far below their merits, in the
opinion Of great many financial au-
thorities. The rush to sell stocks yes
terday brought day In which 1,179,5S3
shares were turned over.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09
Eliminating Short Support.

The last few days has demonstrated
one thing, at least, and that is that the
withdrawal Of a big short interest from
any stock, when it finally is covered
leaves that stock in a weakened posi-
ton. This was emphasized yesterday
in cases in which stocks which had been
under influence Of adverse circumstances
had been held up by nothing in the
world but the short interest which had
accumulated on the way down. In sew
eral stocks yesterday the shorts found
comfortable profits and decided to cover
their commitments. With that prop re-
moved 1t did not take long for the stock
to exhibit a sagging tendency with the
balance of the market. OF course the
covering yesterday was a scattering
movement and there remains in the mar
ket very large short interest in prac-
tically every industrial.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09

charges were s4s7.7so and depreciation,
renewals. &c. s2S3,65O. Dividends
amounting to $6S0.56S were distributed
in contrast TO s290,196 in 1919. making
the surplus for the period s345.245.
against $165,23S.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09
CONSOLIDATED EXCHANGE.

Continuance of tight money and fur
Their substantial shading Of foreign ex-
change figures combined to bring de-
morallzatlon in prices of industrlals dur
ing yesterdays Consolidated Stock Ex-
change trading. Their net losses wec
2 TO more than 6 points. the brlmt OF
pressure being exerted against steels
marines, oils and specialties. Rails.
which reflected accumulation and re-
sisted the general downward trend fo~
the greater part OF the session with
midday rallies OF I to per cent, moved
down moderately at the end
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09
Prices Then and Now.

Most of the standard industrials since
the height of last falls boom have had
their market prices cut squarely in half
In some cases that decline has extended
further and some stocks are selling at
a quarter of the prices commanded last
fall In exceptional instances. in some
of the motors and oils. the market prices
are fifth to a twentieth of the prices
at which they sold last fall. The fol-
lowing table of representative industrial
stocks shows their close a year ago and
their close last night:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09
Pools Abandon Operations.

Several pools which were in full bloom
last week have folded their petals and
suspended operations until after the
passing Of the storm of liquidation.
Pools were operating last week in at
least one equipment, two or three stcels.
several oils and some specialties. In
every case they Withdrew artificial sup
port yesterday and let the affected stock
take care OF itself
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-09
TOOL COMPANY SHOWS GAIN.
Chicago Pneumatic Reports Net of
s7.eb n share for Nine Months.

The consolidated statement OF earn
ings of the Chicago Pneumatic Tool
Company and It's subsidiaries for nine
months ended on September 30 shows
net income after charges and taxes, of
s1,025,s1s, or s795 a share earned on
its outstanding capital stock. In the
corresponding period Of last year It's net
income amounted to s455.434. or S7.06 a
share earned on It's stock then outstand-
ing.
The company's manufacturing profits
for the nine months were S4,099,551,
against s8.153.5si In the corresponding
1919 period Expenses, Federal taxes.
&c. aggregated s2.36s.954. against
.s1e37.7f7 other income was s76.e26.
against st5,573, making total income
s1.sO7,2 1923, against s1,215,s64 Interest