davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
MUST ENCOURAGE FARMERS.

We must encourage agriculture. be-
cause that is the basis of all indus
trial life. The number of farms in
America is not increasing fast enough
to keep the country on a self-sustain-
ing basis. Therefore, we have need,
through reclamation and develop
ment. to increase the rate at which
we are opening new farms.
Our nation must continue large
importer and in order that the bal
ance of trade shall not be disastrously
against us we must seek to export to
new foreign markets. To that end
there must be new commercial treat
les and international trade agree
ments.
Instead of suspicion and hostility.
which in recent years have marked
the relations between autocratic gov
ernnfent and business, we must intro
duce a spirit of mutual interest, of
understanding and of Willingness to
cooperate.
1t is true, of course, that special
favors to particular businesses are
always to be avoided, but Il is equally
true that special antagonism to bust
ness must not be permitted.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
DEFICIT ACCUMULATING.

We are starting on the new fiscal
year with deficit accommodating at
such a rate that. If continued. VIII
add three-quarters OF billion to our
national debt this year.
The Democratic nominee has been
promising reduction of taxation. How
does he propose to reduce taxes at
time when the Government debt. al
ready above $4,000, 900 900, is in
creasing at rate not far from
81 0O0, 900, 900 a year?
The war fought US how important
il is to foster certain industries that
are essential to the nation. Inevi-
tably as other countries face the
necessity of exporting more than they
import to restore their trade balance.
they will endeavor to undersell us in
our own markets. and II win be neces-
sary for us to return to the Republi-
can policy of protection, wisely adj
justed, to meet these particular con-
ditiOnS.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
GERMANY'S EXPORT
MAY PASS IMPORTS
RhineIand's Outgoing Trade
Shows Marked Increase De-
spite Fall in Marks.

Germsny's exports will pass i'm
ports during the present year II the
record made by that country in May
as announced by the Bureau Of For
cign and Domestic Commerce con
tinues throughout the year.
The bureau, in explaining the largo
increase in Germany's imports and
exports during the first five month";
in this year, as compared with the
same months last year, explains that
the value of the mark has depre-
Ciated in that time. The exports,
however, increased from 251 100000
marks in May. 1919, - 6647,00o, 900
in May 1920.
Last year flgures made publ by
the German government and received
here indirectly by the Department
OF Commerce show that Germany i'm
ported goods valued at 30, 3T6, 0O0. oOo
last year against exports of 10151,-
900. 900 marks.
Communication between the trade
sources In the United States and
Germany has not been fJlly revived
and late figures as to financial
records are not available at the De-
partment of Commerce. The figures
for May arrived today.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
II. ORGANIZATION tContJ

u. How is a Federal Reserve
bank managed?
Each Federal Reserve bank Is
managed by a board OF nine direc-
tors, six being elected for terms OF
three years each by the member
banks and three appointed for sim
liar terms by the Federal Reserve
Board. The first elected and ep-
pointed directors, however, were az
lotted terms of one, two, and three
years, respectively. so that two di-
rrectors are elected each year by the
member banks and one Is appointed
each year by the Federal Reserve
Board. The nine directors are desig-
mated as Class A, Glass II, and Glass
C directors. respectively Directors
OF Class A (three in number) are
chosen by. and Intended to be repre-
sentatives Of. the stock-holding
banks. They may be officers and
stockholders in member banks. Class
II directors (three in number) are also
elected by member banks, but must
be men who are actively engaged in
commerce, agriculture, or some other
industrial pursuit. No Glass u. d.
rector can be an officer director, or
employe OF a bank. though Class II
directors may be stockholders OF
banks. Directors OF Glass G (threo
in number) are appointed by the
Federal Reserve Board. No director
OF Class can he an officer, director,
cmploye. or stockholdcr OF any bank.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
.GERMANy'S STOCK
OF GOLD DEPLETED
b. S. Treasury Hears Paper
Money Turned Out Fast by
.,,, Printing Presses.

Germanys gold stocks have dwin-
died to a low ebb, and paper money
continues TO expand with printing
press speed. said private adyices
which reached the Treasury today.
No official estimate is made OF the
amunt of gold still in Germany's
posses sion, but some statements not
fully confirmed have put the gold
stocks as low as S15G.O0O,OOO.
officials today expressed more con-
Germ, however, over cablegrams from
American advisers abroad, stating
that expenses for running the German
government this year will exceed
81 900 600 900 marks. Financial ad-
visers said the situation in this respect
had become 80 serious that Germany's
chief financial agents had pressed for
further depreciation in the outstand-
ing currency, and heavy cuts in the
government expenses.
Scarcely more than one-tenth of
Germany's expenses Will be met by
new taxes, the Treasury was advised.
Germany's deficit from the operation
of the railroad. postal, and telegraph
systems amounts to about sixteen
billion marks.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
FREE SMALL INCOMES.

The incomes from war-bred for
tunes, those OF the profteer and the
non-producer and those derived from
industries which flourish by reason
of special unfair privileges, should
stand at a high mark, but taxes on
the smaller earnings of workingmen
and the professional classes should
be appreciably decreased.
But IL an equitable revision Of taxa
ton is essential. justice and common
sense demand no less urgently that
the Governments REQUIREMENTS in this
direction be scaled down through the
establishment of national budget.
One of my first duties as governor
of Ohio was to insist upon a reor-
ganization of the States fiscal meth
DDS. A budget system was adopted
in 1913. and it has resulted not only
in great simplifcation of finance,
but in the saving of millions OF dol
lars annually. This is an earnest Of
what might be accomplished for the
taxpayer IL the system were estab-
lished at the National Capital.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
NET TON-MILE FIGURES.

While the net ton-mile figures arc
available only for the first seven
months OF this year, an index to the
amount of freight traffic is avail
able in the revenue car loading hs-
ures published each week by the
car service division OF the Ameri-
can Railway Association, 1t so hap
pens that a new week began on Aug
ust this year. and the car loading
figures are now available up TO Octo-
Der 8. These show that from August
to October D this year. there were
loaded 9,G37 .04l cars of commercial
freight, as compared with 1851. 4l0 In
the corresponding weeks of 1919 and
y,59O.O90 in 101S.
While these figures are not 50 eN-
act as tie ton-mile figures, since they
do not take into consideration either
the length of haul or the average
carload, ii is believed that the freight
traffic this year so far has been
greater than ever before, as both the
average haul and the average carr
load have also been increasing. The
wear 1913 has been the record year
heretofore in point of ton miles, al
though twas only per cent greater
than 1917; but in 1917 the railroads
originated more actual tonnage than
in any other year to date The
greater number of ton miles handled
in 1918 was due to increase in the
average haul.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26

We'll, in that short year the world
has very largely got back 10 produc-
ton and saving. The domestic pro-
duction and foreign trade of Great
Britain. France. Italy, Germany, and
our own country all prove this.
The war added hugely TO the
wealth and also TO the debt OF our
country. At the end we were still far
better postured than any other great
state and our recovery ought to have
been at pace far outstripplnS
theirs.
The TACT that In the months of July
and August. 1920. our national eN-
penditures exceeded the national re-
ceipts by S12J,O00.OO0 is the conclu-
sive testimony OF ineptness and in
ca pacity for administration that. had
1t been paralleled in countries less
fortunately situated than our own,
would have meant the bankruptcy OF
their civilization.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
AJAX RUBBER

H. S.-Kindly let me have any In
formation you may get regarding
the Ajsx Rsbb~S Company. DO you
consider the stock fair business
speculation? Why does the stock
stick around $40 a share while IL ls
paying 50 a share? Do you think
-The dividend is likely TO be reducedF
Answer-Ajax Rubber Company. In
corporated 1918. business originated
1905, has an authorized capital stock
OF 1000. 900, half OF which lis out
standing; par, $50. Since 1906 II has
paid ~ per cent $50 a share) per an
mum, payable quarterly. March 10
etc. The latest dividend of $50 was
paid September 10
Last year Ajax earned the IL pei
cent dividend twice over and in IN.
first half or the 1920 year IL earne'
x7.84, or sl.64 more than a whole
years dividend but in the CORE
spending period OF 1919 the compan.
earned $9.i3 a share despite the fac
that gross sales for the first hair
1920 exceeded the first six months
1919 by about 10 per cent, which Ia :
very fair reason why the stock Il
selling below par.
Earlier in the year IL sold for twic.
it's present leval Ihe directors hsV
not acted on the next dividend, bu
when they do act they probably WI
be Influenced more by the unsett''
conditions in the rubber tire ira
han by the company's past and pre-
ent earnings.
The stock is speculation.
We do not permit ourselves l.
recommend speculative stocks
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
DOUBLES STRENGTH
OF Dc. GUARDSMEN
War Department Has Tentative
Plans for New Outfits in
Capital Militia.

Tentative plans OF the War Depart
ment provide that the District Ma
tiona Guard comprise between 100
and 200 men, an increase of more
than 700 men over its present
strength.
Brig. Gen. Anton stephen, COM
mander Of the local guardsmen, made
this announcement today. General
stephen plans for an organization to
comprise the following units;
One regiment OF infantry, one bat
talon of pioneer infantry for colored
soldiers; one complete motorized bat
talon of field artiiler, one signal
company, and a small medical detach-
ment.
BEFORE the war the District Ma
tional Guard comprised more than
1000 men. Since that time II has been
completely reorganizcd.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
PEOPLES GAS AND COKE.

The Illinois Public Utility Commits
sion is expected to hand down the de-
cision on application of the Peoples
Gas Light and Coke Company for an
adv ance in its gas rate to S145 thou
sand cubic feet Dispatches from
Chicago indicate that the commission
will allow the company to increase
it's rates to SIPS "a thousand. Up I'M
til last June the company was furnish
ing gas for SIS cents a thousand and
since that time has been operating on
a xl15 temporary basis The in
crease to s115 was granted until such
time as the commissi ion could de-
termine a fair permanent rate.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
WANT TURNOVER TAXED.

AS a substitute for the excess
profits tax 1 strongly favor a small
tax on business turnovers. 1t will
require approximately four billions
of dollars annually to meet our sink
ing fund installments, interest
charges and departmental expenses;
and 1 estimate that about half this
sum could be derived from a tax OF
not more than one and one-half per
cent on the total volume of business
done by large going concerns.
From such a levy the wages paid
to laborers. incomes OF salaried and
professional men, and receipts from
agricultural and small businesses
ought properly to be exempted. Units
Of larger capital can bear it without
inconvenience
This tax must be borne by the con-
sumner, as must all taxes levied upon
commodities, but it has the direct ad-
vantage, in my opinion, of being paid
at once.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
YEAR TO BREAK
RAILROAD RECORD
Figures OF Seven Months Show
High Water Mark Of 1918
Is Passed.

The year 1920 promises TO break
all records for the volume of freight
transported by the railroads OF the
United States. in spite OF unfavorable
conditions in the early part OF the
year. The Interstate Commerce
Commission has issued statistics
showing that the number OF
net ton miles of freight handled
during the frst seven months of the
year was greater than for the cor
responding period in any previous
year. II was PAS, 300 millions. against
ZOO millions in 1919, a gain or
III per cent
In a recent statement the com
mission also said that during the
past four years the net ton miles
for the frst seven months were $3.50
per cent OF the total for the full
year; and that, assuming that this
percentage Will be maintained in
1920. the years figures for the vol
ume OF freight will far exceed an
past records.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26

trial life. American manufacturers
have entered new fields. They are
producing many commodities I'M
known to our laboratories and mills
and factories before the war. The
explosive and dyestuff sections Of our
great chemical industry may be men
toned as a fair example. Am r.can
dye manufacturers are now export
ing more dye than we impor in
1914.
What is true of new American
dyes is true of many other Ameri-
can-made products More and me .
our manufacturers are sending t.eir
goods into the export markets. We
must safeguard their interest not by
coddling them, but by guaranteeing
to them fair play and fair night at
home as weel as abroad.
We cannot hope for a fair business
field at home unless we have have
tax readjustnent.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
WALL STREET GOSSIP.
}. G.. BRILL STOCK.

NEW YORK. Oct 2G.-An advance
of twenty points in the price Of the
common stock OF the J. q. Brill d Co.,
OF electric GAYS and
trucks. is declared to be due TO eN-
panison in earnings that expectation
that the directors Will make some i'm
portant announcement In the near
future. The shares are now dealt In
over the counter and application will
probably be made to have them ad-
mitted to trading on the New York
Stock Exchange. The increased fares
being received by the electric rail-
ways in all parts OF the country is
enabling the companies to place or
ders for additional equipment.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
A CLOSED MORTGAGE BOND.

Mrs. q. X. M.--Wiil you be kind
enough to give me your opinion OF
Kansas city. Memphis and Il rm'"
ham tacome 81. due 1894? These
bonds are offered to me at 40. Also
IL IL worth while TO put a little
money into Hart OIL. say, loo
shares?
Answer-kansas City. Memphis and
Birmingham Railroad income mort
gage currency 5s are closed mort
gage and are secured by secon'
lien on 2SG miles. The Kansas Cit!
Fort Scott and Memphis railway qua
autees to pay the interest on ia
stamped bonds, amount to SO 600 GOO.
The issue is one of the underlyih
liens of the St. Louis-San Francis
Railway Company. As a semi-spec'
lative investment these bonds at
giving a direct return of 10 pc.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
CELEBRATE 50TH YEAR
AS HUSBAND AND WIFE

More than $50 friends and relatives
attended the golden wedding celebra.
ton OF Capt. r. T. whiting and his
wife. Mary Il. Whiting, of DOG
seventh street Pythian Temple last
night.
The couple were married In the Dis
trict of Columbia in 1870. and have
been residents Of Washington ever
aimee. Captain whiting IL seventy
two and his wife is siNty-eight. They
have tour children and the same
number Of grandchildren, oil rcsi-
q .nts OF Washington.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
WICKwIRE SPENCER.

The Wickwire Spencer Steel Cor
poration reports net earnings after
all charges and taxes for the nine
months ended September 80 of ST.
72S,1O, equal to $4.l5 share on the
common stock after al
lowing for preferred dividends. Net
for the three months ended Septem-
Der 30 amounted to &513,3T5, as COM
pared with sS25,17S in the previous
quarter.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
STOCl<HOLM LOAN.

The city of tockholm. Sweden, is
reported to be considerin. approach
ing the New York money counter for.
loan. This would be the Nhird OF
the Norwegian capitals to negotiate
loans hSre.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
RAILROAD EXECUTIVES.

The standing committee Of the Rail-
road, Executive Association will hold
a meeting on October IS at which
time the controversies between the
railroad executives and railroad labor
in regard to the national adjustment
board and other questions will be dis
cussed. The committee will take up
its program OF efficiency and talk
on aspects of the coal situation as
they affect the roads.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
CITY OF Dr:RNE LOAN.

An American banking mouse is I'M
derstood to have proposed lending
The city OF Berne. Switzerland, $4,000
900 on bonds bearing a coupon rate OF
per cent
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
Democrat Wants Levy on Bust
ness Turnovers and In
come Tax Burden Lift
ed From Workers.
NJ JAMES M. cox.

The attitude of our own govern
ment toward business should be lust
and economically sound. During the
last hve years there has been an
enormous stimulation In our indus
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
Harding and Cox
Tell Programmes in Special Articles
Republican for Protective Tariff,
Encouragement OF Farming,
and Fostering For
eign Trade.
nv WARREN q. HARDING.

II is only short year ago since
we were being told that unless the
world gets back TO the serious busi-
ness OF production and saving, every
thing is going TO the bow-wows."
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
Income and

cent, offer attractive Income ana
speculative possibilities.
We never permit ourselves TO rec
ommend two-priced oil stocks, whica
are always speculative 20 high de-
gree.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
DEMOCRATS RALLY

\ grand rally and mass mec ms
OF tho Harding Democratic club OF
tho District OF Colu nbia viii be held
tonight at O'Clock IN the Commun-
ity House. Sol y street northwest.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26
ISM 7H%1gnn B BUSINESS AND FINA nee
The Washington Times
Investors Service

sisd
snrey
sddre OF the
b,
serses Nuns Building wsshins'o" ID &
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1920-10-26

Looking for q home, rooms. or an
apartmcnt7 Phone your want I'D to
The Times now. Main $3.50.
Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1920-12-13
FRENCH PRAISE FOR
OUR RED CROSS WORK

landing the work accomplished By
american philanthropy for war
stricken France. Andre Tardieu, form
or high commissioner from that ma
ton to the United States, in a recent
article widely commented on through
out the French press, says:
1.-THE American Red Cross has &C
complished a work which calls for
the heartfelt gratitude Of every true
Freedman. IN 1918 this great relief
organization spent in behalf of France
nearly ST.C00,C00 francs, and in 1919
its expenditures on charitable projects
ia our country attained the tremen-
dous total of III, 100000 1t has re-.
Gently turned over to the French relief
organizes lions huge stocks Of sup
plies whose value must be counted in
the hundreds OF thousands OF francs.
Fifteen million American boys and
girls banded together in the Junior
Red Cross OF America, are, back of 3
movement TO establish the closest ties
between themselves and Frances
younger generation through the char
table works they have financed. and.
are now. carrying out among our little
war sufferers.
THE bonds Of friendship between
France and america is cemented with
mutual admiration. EssQect and graft.
tude."
Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1920-12-13
NATIONWIDE FIGHT
AGAINST DISEASE
American Red Cross win Have
Health CenterS in All Parts
of United States. "

The American Red Cross has launch
ed upon nation wide campaign of
/ fighting disease and physical defect
among the American people. A new
. sul unique health institution has come
! iato beng rs the result of several
/ months study by the Red Cross Health
/ Service Department at National Head
/ quarters.
OMcials in charge OF the department
+ predict that before long this new health
activity viii be in actual operation all
. over the country. and that the sign
American Red Cross Health Center
/ will become as familiar TO the peo-
. pie everywhere as are now the signs OF
+ tae Telegraph companies.
cu5y Loag Before War.
The interest % the American Red
Cross Ia the fight against disease is
not nu-revar. OF recent origin. Long
/ before taa war the organization began
5r.s eeaIch service through its medical
u...s I'D d'sascar relief work and its
lsulgtai Of Town and County Nurs-
Ing During tile war and following
tHe ar..-s.lca thousands OF American
E,ad Gross officials have been fighting
disease 5n The wa--stricken countries
Z. t,e.-ar'n time tens Cs thousands of
ieea' H-l Cross officials have been en-
ri HH.A1 A5a-'hS CSease' hota-
biz during the influenza eDidemics.
TIE American led Cross has de-
t1il ,' ,'e- all -n-s valuable expert
e-.. =a e-..-l service abroad and at
hr,.. =.at l.- go 10 waste, So long
@~ ..-Fe re "-- q million people
-fs-r-rtr. from
aAo SO 'ohS rs more
,.'a .. a- ,-e American chli-
/ ai-2 and s. People are victims OF
I-. '-~rs- --e i-ei cross recos-
..@ 'tt- iof eo'ltlIlueu
-'~- - ""'-e'
-s. 1nt---.1n s-1TNS-
l-- l.- Cross Health Center Is
--.---.. business principles, APP
plies methods. and, IN its
. a'are a can be established
--- -u...e ..- lay people
3. u.-yae --"0 the demonstrated
. la-, .-.. L-s--tA IS "c@modity that
can ta a. and SOLD ike brooms
ANA soap. ----a-ere- il establishes IT.
%- I'D Is s-.-.".- i1 t@e principal
cet ~ tilr community It
displays lis --"-s IN the form OF at
Jr-ti-Fe i---.- exhibits IN It's show
WINDOWS IL ia>-s.-~5.S constantly ana
e-,a-~.Ee'l. -aue II uses every ousl-
-'o 0----I 0~''-- 10 az 1e' Gus
-'-
$3.50 --l'---- c-ieF Is o.
7--' 81" .--1' ID S''eS ou1
.-.-~-@ 30 i-i'''io
s' -'>- '''-S, S''!'>,-
--'T'' ~ ions ioF 'he SIGN
~ '''v',- ''Nit ..IIi
'-'- "-i. p':'c'ie''i,
~ r..--- '.'e = ---S 5 7-5 Ia anu
- ~ ''-e ~"'oA anu '-'-' nus
-
.e--..'5 disease FreEehtion.
i-e ---. cross health center Is
-ut........ .. eve. greater service TO the
Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1920-12-13
Home in Chicken Coop
x o. K. After Life in Flat

! rhicago.-Discovery of a ram
Siy of nine persons living along
with their fowls in chicken
eoop-all that the tornado left
Of their home-was made in
Rellewood. When Red Gross Of
fcials started to move them to
more habitable quarters, the
, family raised walls of protest.
70 ave don't mind living in our
Chicken COOP" explained Gustav
Kraft, head OF the family. "You
Gee, we Nved In a Chicago flat
once"
Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1920-12-13

Wild has anything so haul or move,
call 653 day or 253 might and let
SANDLIN do it. McKee's Rink. 81
Hyder Alaska miner. [volume] (Hyder, Alaska) 1919-1923, 1920-04-02

The government has given per-
mission to all who wish, to chase in
to the so-called oil fields of Alaska
and make damphools of themselves.
Many are taking advantage of the
opportunity,