davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1921-10-21
Without the Price.

The world is full Of individuals
who want TO attain success without
paying the necessary price.
They hope To strike a streak OF
luck" They try to tell themselves
that some day something good will
lurh up" They are good wishsrs
and goou dreamers.
Bu low many tell themselves 'his
essential truth: THE surest way
for Ire TO prepare myself TO TAX,
advantf ge OF opportunity is 20 woil;
az herd and as intelligenuy as
know how and save every dollac pCs.
sible, because very little can he done
without some amount OF capital"
or course. a man may win promo.
rion as an empioye and reach high.
salaried position without having ac.
cumulated any capital
Even in this connection. however
the fact is that today the ablest EN-.
ployers look with more favor upon a
man who has demonstrated that he
can handle his own finances success.
fully ard has been able to save a re.
spectacle amount Of money than he
looks upon the man who has proved a
failure at handling his own financial
affairs.
The Washington times., 1921-10-21
Harding Sees
Turn for Better

w. p. G.. Harding, governor
of the Federal Reserve Bank
believes that a turn for the
better In banking and business
conditions had occurred, but that
there would not be any substan.
tial revival until the Admins
tration had determined definitely
it's policies regarding financing
the railroads and taxation.
He is not excited over the
railroad strike talk.
II believe that the average
citizen has good amount of
common sense" he said today.
81 don't believe there will be a
strike. Therefore, the strike
order left me cold and ] did
not begin to lay in a supply OF
food"
The Washington times., 1921-10-21
StoeI Merger Soonf

NEW YORK. Oct. 2l.-Aceording 10
information that ought 10 be reliable,
al least one OF the iong-expected merg-
ers is approaching actually, namely,
the consolidation Of four independent
steel companies.
for over year certain steel produc.
ers have been inclined TO favor an
amalgamation OF various plants, 30
situated as TO render "A consolidated
organization In "a stronger position to
meet competition.
Several different groupings have
been mentioned. The one now expect
ed 10 go through, II negotiations prove
successful, will comprise Republic Iron
and Steel. Lackawanna steel. the Brier
lIill Steel Company and one other.
Heretofore these rumors have been
confined 10 industrial circles. nJw
they are heard in banking quarters.
II would appear, therefore, that action
is likely.
The Washington times., 1921-10-21
Rail Bonds Hold Back.

Despite the general and substantial
rise in bond prices during the last
four months, many railroad issues
have failed to participate in the
movement
During the past week several is.
sues have reached the low level Of
the year and the record low. Price
movement, however. has shown that
there has been fine discrimination by
investors IN picking issues ac. ord.
ing to their merit, based upon finan.
cial position II he bonds anl the
ability of istuipt companies to ear,
interest Chaig"s
Should the railroad situation tJrn
for the better. 1; will be quickly re.
Re Ted in an upward price mo,t.
n,nt For tAa present pr' se- scen,
Il have disc united the worst.
The Washington times., 1921-10-21
Foreign Exchange.

NEW YORK, Oct. 21.-The foreign
exchange market opened strong today,
eth demand sterling sc higher at
S3.95h. Francs rose 2 centimes to 1888
for cables and 1892 for checks. Lires ad.
vanced IA points to 3.96 for cables
and 395 for checks. Belgians were
centimes higher to 7.l9 for cables
and 7.1S for checks Marks yielded
points to .0064.
other quotations are: Guilder ca.
hlcs 34.l0, checks 34.0S. Swedish
kroncn cables 23.25, checks 23.20,
The Washington times., 1921-10-21
The Larger Success.

What | have in mind, however 10
theN larger success that comes from
launching some idea On founding
some enterprise; in other words,
going into business on ones own ac-
count.
That is the goal which our most
ambitious men, particularly young
men. have in view. Before the attain
ment OF any such goal us possible the
saving Of money may be said to be
absolutely essential.
This lack OF capital perpetually
Ira ndicaps all classes and conditions.
Why. for example, are grain AMI cot
ton dumped on the market at declin.
ing prices Immediately they are har-
vested. when the growers know that
they would stand an excellent chance
OF obtaining better prices after the
pressure upon the market had sub
sided?
The grain growers and the cotton
81 overs sacrifice their products simply
because they are in urgent need oil
money and cannot wait for more
favorable market on which TO sell
This glutting of the market az GER
tain seasons occurs in other direc'
tions. and the reason always is the lack
of sufficient capital to hold off untii
the flood of selling has ceased.
The Washington times., 1921-10-21
Chicago Grain Market.

CHICAGO, Oct. 2l.-Wheat opened
1a1hc higher: corn. "a iac higher;
oats, &c higher; lard, higher; pork and
ribs, inactive. Opening:
Wheat - December, Sl.O41a "a LOO
May, S1.0S@1.10.
Corn-December. 464 q4612c; May.
SIS @51%c.
Oats-December. 32ss d32%c; May,
37%c.
Lard-January, $3.50.
The Washington times., 1921-10-21
WHY Bonds Are Strong

prominent Wall Street man own.
ed a farm out west. After paying
taxes and making nu1orous repairs
for tenants he received about $3.50
annual net return. lie has sod
the farm and Douglt good honds,
which yield over tl,S0o yearly in.
te.est.
The Washington times., 1921-10-21
Liverpool Cotton Market.

LIVERPOOL, Oct. 21.-spot cotton
was firm at the opening this morning.
Prices were steady, sales were 10000
bales.
American middinPs, fair. 1924, good
middlings, l9.i4: fully middlings, 1924.
middlings. 1854; low middlinas. ll.34.
good ordinary. 1904: ordinary. e.2o.
Futures opened uuiet.
The Washington times., 1921-10-21

Isn't IL the
lack OF the neces-
sary capital?
There IL hardly
"A man walking
in sh oelea a theI'
who ha sn't. at
some time or
other. thought OF
som e plan OF
proposition which
he ls sure would
prove a big money
Inaker.
Every wealthy
Imam In besieged
by In d iVi d uals
anxious TO pre-.
sent schemes OF
wonderful posi-.
The Washington times., 1921-10-21

DIIIIIts.
I'm constantly bombarded with re-
quests to investigate all sorts OF new
propositions and to put the authors
of such propositions into touch with
some man of wealth.
Success does not come merely from
having an idea. Success comes from
devising ways and mean to put
sound ideas into practice. And that
invariably resolves itself into find.
ing capital
The Washington times., 1921-10-21

ot the NeW Willdru last eNeHiilB,
when over 400 members of the
organization were in attendance.
Raymond b. Dickey, member
: of the local bar, and George o.
Watson, president of the Liberty
National Bank, were the prin-
cipal speakers of the occasion,
while Charles d. Boyer, assistant
cashier of the Federal National
Bank and past president of the
chapter, made short statement
of the organizations past work
and the future program.
Of special interest were the
awards of the Charles j. Bell
gold coin prizes amounting to
$50, which were won as fol-
The Washington times., 1921-10-21
FINANCE
AND
BUSINESS IN,
~ y. C. FORBES

Haven't you In your head right
at this moment some idea which you
are sure would prove very success
ful II IL were carried outg
And what is Il thai prevents YOU
from having your idea carried out
The Washington times., 1921-10-21

following permission just given by
the Public Utilities Commission.
The proceeds Of the sale are 10 be
used 10 reimburse the company Tor
expenditures made in taking over ad
ditl0nll property. new construction
and improvements since late in 1920
The Washington times., 1921-10-21
BUSINESS An ID F MA G. E w1AMmdS mdSsnD
Local Stocks.

SALES.
Capital Traction. 25aS7A, l0qs7%
Washington Railway and Electric
Company, 25Q2G. l6926, lOU26'
After call:
Capital Traction. 25Qs7A,
Washington Gas ih's. 10000 l0S.
900 plOS, 10000 lOS, 5OOql0Sh.
Washington Railway and Electric
As. 10000 594s.
Capital Traction. 5as7a. sqs7& I
ass. 25QSS,
Ianston Monotype, lOQ72
Money: Call loans, 8 aBd per cent.
nnNnG
The Washington times., 1921-10-21
4 Stirring Illustration.

The marketing of grain affords
striking illustration Of what we are
discussing Look what percentage Of
wheat is marketed Immediately IT is
harvested and how little is held on TO
until the market is less glutted
par Cont pf Seasons MarketinRs.
The Washington times., 1921-10-21

lows: WILLIAM ]. WALLER.
Frederick II. Cox, Commercial National Bank, $25
Harold w Burnside Farmers and Mechanics National
Bank $15 Robert H. Stader of the Treasury Depart
ment, $40.
All of these prizes members of the advanced
class the chapter while the awards for those of the
elementary class Major Louis c. Wilson, director of the
American National Bank and Miss Mildred Woodcock, of
the American Security and Trust Company tied for
first place.
Major Wilson awarded the first prize however on
of having absent from only session. while
Miss Woodcock had missed several He received camera
Woodcock awarded $40 in gold donated by
Francs G. Addison r vice president of the Security Saw
'ings and Commercial Bank.
The Washington times., 1921-10-21
A Profitable Side Line.

Due to the strength Of the tobacCos
United Retail Stores has recently at.
tracted attention.
Many fols overlook one OF this com.
The Washington times., 1921-10-21
Slogan Of Success.

United We stand, divided we fall
should be lived up to by financiers
business men, and labor in these times
OF readjustmcnt.
The Washington times., 1921-10-21
Wall Street GOSSIP

Dsnys most important branches the
real estate department.
An interesting tale is told OF its
efficiency. Recently the company
was Offered opportunity 10 buy TIE
old Morton House al FOurteerth Ga
street and broadway IL poitc.,
however, il 10 eonfine its res esusis
operations 10 leases. The pr perty
was bought In by Julius Lichten-
stein, OF American sumatra Tobacco.
Retail Stores secured a lease on
the corner of the properly for $40.
900 annually. Not requiring an
this space, II split il up into several
stores and subleased what was not
needed for total rental of s2o.eoO
annually. This. one transaction nets
the company $1,000 az year and Sc
cures AN attractive site Tor a linked
Cigar store for nothing incidentally,
IL IL stated that Lichtenstei1 pur.
chased the property for 1880. 900;
was able 10 secure $1,000 200 mort
gage on IL. and stands Ia receive
something like 2l per cent a year
on his cash investment pf $js0.9Je.
Therefore, everybody's happy
Corn Products Income.
Corn Products Refining will issue
It's quarterly statement next week.
II is expected TO show net earnings
OF about 81 on the common.
II 80 the numerous rumors regard
ing the instability OF the xl.5O quar-
terly payment will be silenced. The
third quarter, II is stated, was the
best for the year.
Operations are understood TO he
running at over IS per cent OF
capacity, as compared with ieeT thf
30 per cent earlier III ths yrG Ns,
OF 50 a share In the third- tiaFter
would bring the total net a. The
nine months close TO S6 a shaasr or
sufficient for a full yeafs cosnmoa
dividend.
The Washington times., 1921-10-21
ADVANCING
WASHINGTON'S INTERESTS
Banking Institute
Begins Year of Study

With President William j. Waller in the chair, Washing
ton Chapter American Institute of Banking inauguraed
what promises TO be the most successful year OF It's work
The Washington times., 1921-10-21
Washington Gas Issue.

Washington Gas five-year 712's
dated January !, 1921, amounting 10
The Washington times., 1921-10-21
Tho Curb Market.

FURNISHED by W. b. Hibbs 4 Col
Prices at noon:
D.;.n. o, moan. pid Asl ad
The Washington times., 1921-10-21
Liberty Bonds.

FURNISHED by W. B. Hibbs 4 Co..
New-York tribune., 1921-05-24
Examiners Take Up
Union Charges OF
Rail Extravaganza
N. Y. C. Engineer Testifies
Shops We're Disrupted
Under u. S. Control and
Couldn't Handle Work

Examiners for the Interstate Com
assembly room of the Merchants AS
sociation yesterday, began an investi-
cation of the charges made by officials
Of railroad brotherhoods that the rail
roads of the country might save ST.
000,G00,o00 year through economies
in their maintenance and repair depart
ments. The charges we're made in an
swer to the railroads contention that
wages must be reduced
Most of the first days session was
devoted to the testimony of F. H.
Hardin, chief engineer of the rolling
stock of the New York Central, who
was questioned by attorneys before F.
H. Barclay, examiner for the commits
sion, who presided.
w. Jett Lauck, counsel for the
unions; Clyde r. Brown, counsel for
the New York Central, and M. C. List
counsel for the commission, appeared.
William l.. Johnson, President of the
International Association of Machin-
kSl0I WIZ iEipSQ DI4iiS dDouL IiD III
vestigation through his charges that
the railroads were cxtravagant, prob
ably will be heard to-day.
Mr., Hardin's testimony concerned
the repair of 112 locomotives which
were sent to outside shops during 1920
1t was charged that these locomotives
should have been repaired by the com.
pany's shops. Mr.. Hardin declared that
in period of increased business the
output from the company's shops, de.
spite increased hours and enlarged
forces, steadily declined and that al
the termination of government contro
The motive power was bad as com
pared with its normal condition undel
private control" The witness exhib
tied figures to show that the capacity
Of the shops increased after govern,
ment control ended.
P. Il. Crowley. vice-president il
charge of operation of the New York
Central, is expected to testify to-day.
New-York tribune., 1921-05-24
Subway Sun Scooped ON
News for Straphangers
Medical Society Shows How
Crowd and Long Ride Are Com
ducive TO Disease Immunity

Even The Subway Sun has failed to
present to the public all the advan-
tagos of straphanging. 1t has re-
manned for the diphtheria symposium
of the New York Medical Society to
show that this luxurious mode of travel
is conducive to disease immunity. The
bigger the rush and the longer the ride
the bigger the immunity and the longer
its protection, according to the sym
postum.
The reason for this is that the con-
slant contact with germs forced by
congested living conditions affords in
many cases the equivalent of inocula-
ton, physicians say.
The object of the symposium was to
explain to the city's doctors the newly
discovered Schick test for determining
diphtheria immunity and the new
toxin-antitoxin, which gives active
immunity to those not naturally pro-
tected, The introduction of both into
the schools of New York was urged.
Five authorities collaborated in the
exposition. Chief among these was
DR.. Abraham Zingher, of the New York
University Medical School. He pro-
duced statistics To show that natural
immunity is approximately three times
as common among the children of the
congested districts as among those of
the country or the better sections OF
the city
New-York tribune., 1921-05-24

justice az The United States District
Court In Manhattan June &.
Accompanying the papers In the case
Is statement by Captain Rosenbluth,
issued yesterday, in which he com
ments OH the fact than, n reporter dis
covered In few days what the bureau
Of investigation has been unable to
demonstrate in two months, and odds:
"My attorney, Jonah j. Goldstein,
has written to Attorney General
Daughorty requesting him TO hold Il
public hearing limited TO. two hours.
il that hearing is granted revelations
transosnding those already made viii
be shown. The bureau Of investiga-
ton to which the present Attorney
General fell heir, has forgotten that it
ig part Of the American government
and a branch of the Department of
Justice and has resorted TO falsifica-
tion Of records and deliberate conceal
ment Of evidence from the court and
rom the head of tbe Department OF
Justice of which 1t is part.
II hope that the Attorney General
will grant the request of my attorney
to hold public hearing, where testi-
mony can be taken under oath and in
the open"
: In their letter TO the Attorney Cen
eral Rosenbiutf' . attorneys say that
two months have elapsed since his ar
rest and ask for the discharge of bail
New-York tribune., 1921-05-24
Question of Paying
Transit Employees
Again is Postponed
Request for Appropriation
for New Con m S S ON
Also Laid Over; Delaney
Raises Legal Technicality

Action on the application Of the new
Transit Commission for an appropria-
tion sufficient to pay the salaries OF
the $50 employees transferred to the
Few body from the old Public Service
Commission was postponed for another
week by the Committee on Finance
and Budget of the Board of Estimate at
it's meeting yesterday. The request for
$1,083,327 to pay the expenses of the
ne commission for the last six months
of this year also Was laid over. with
the suggestion that Chairman George
McAneny, or some one else who was
familiar with the situation, be pres
ent at the next meeting and explain
conditions.
John II. Delaney, former Transit
Construction Commissioner. told the
committee that the request for tho
payment Of wages was really transfer
of corporate stock money which was
designed solely for construction pur-
poses. He said this could not be done
and that payment of wages should be
from revenue bonds or tax levy. He
declared the form of the application
was wrong.
The employees in question have not
been paid since April &c, when they
began work with the new commission.
Most of them are low salaried en-
ploYees and need the money badly.
Godfrey Goldmark, associated With
former Justice Francis NJ Scott as spe-
cial counsel for the Transit Commits
sion in the injunction proceedings
brought by the city, yesterday served
notice on Corporation Counsel O'Brien
that the case of the city would be
moved for trial on June 6. The notice
demanded that the case be preferred. =
While the decision Of Justice Nc
Avoy, handed down last week. denied
the city's motion for ga injunction dur
ing the pendency of the case, it was
said that the commission was DESTROYS
of having the action finally disposed
of and therefore it directed it's eoun-
sci to place the case on the calendar al
once. The city sought to restrain the
new commission from functioning pend
ing the determination of the constitu-
tionality of the law creating the Transit
Commission.
Corporation Counsel 0'Brien wrote
Mr.. Scott last night that the city
would be glad to cooperate in any way
to facilitate q final decision of the
case.
New-York tribune., 1921-05-24
II. S. Wins First of Many
Excess Profit Tax Suits
Philadelphia District Court Up
holds Revenue Department
Ruliug ON Law of 1917

PHILADELPHIA May 23.--A decisiou
in favor of the government to-day In a
suit brought by the Ehrct Magncsia
Manufacturing Company to recover
s93, $3.50 alleged overcl arge for taxes for
1917 was said to pave the way for the
government to collect millions of dol
lars from firms having similar cases
pending.
Judge Thompson of the District Court
sustained a construction placed upon
the excess profits tax law of 1917 by
the Internal Revenue Department..
Excess profits taxes are levied on q
graduated scale of a corporations net
income. ranging from 20 per cent
when the profits are less than 10 per
cent of invested capital to 60 per cent
when they exceed 80 per cent. The tax
payer is allowed to deduct from his in
come the average pre-war profit.
The plaintiff contonded the deduction
should be made from the whole OF the
net income for 1917, and that the re
mandcr should be taxed on a graduated
scale. The department. held the deduc-
ton should be made from Is per cent OF
the invested capital, and if the deduc-
ton did not exceed is per cent, the cor
poration should be liable for the differ
ence. If the deduction exceeded Is per
cent, the excess was to be applied to the
succeeding classes until absorbed and il
the net income exceeded 33 per cent the
tax is so per cent.
New-York tribune., 1921-05-24
Mineola Sheriff Again
Called Down by Court

John c. Wagner jr., whose failure
to respond to jury notice in the
Supreme Court in Mineola, l.. l., last
week cost Sheriff Charles w. Smith
his gum and his grin, called down the
wrath of Justice Cropsey on the IN
fortunate Sheriff again yesterday by
appearing Us ordered and saying that
he thought the jury notice was for
his father. Sheriff Smith had told the
court that he thought the talesman
was out of the county.
"What excuse do you have for lying
to me?" demanded Justice Cropsey
turning to the gumless and grinless
Sheriff.
Il certainly would have told you if
I had remembered" said the Sheriff.
you have a very treacherous mem
ory, Sheriff." said Justice Cropsey. at
is lucky you don't have to give much
attention to your work on things would
be in terrible mess
New-York tribune., 1921-05-24
Five More Union
Agents Indicted
I'm Chicago Graft
Special Building Grand
Jury Acts ON Evidence OBJ
tanned by the Legislative
Committee Investigation
Special Dtspatch to The Tribune


CHICAGO. May 23.--~Five moro In
dictmepf 5, charging conspiracy TO ex-
tort ne ney, were voted against union
business agents to-day by the special
building grand jury as a result OF ev'-
dence uncovered by the Daley legisla-
tive committee. The men named IN the
bills are Albert Young, Iron Workers
Union; John J. McAndrews, Elevator
Operators Union; Michael Artery
Teamsters' Union; Charles T. Peters
Janitors' Union, and Charles Wright
Carpenters Union,
They are the men who were named
by witnesses before the Daley com
mittee last Saturday as having col
iected $1,000 graft in connection with
the construction of the new Sovereign
hotel. Wright already was under in
dictment in connection with the sale
of the union label to dealers IN non
union made mill work.
While the grand jury was in ses-
sion the outstanding developments at
the legislative inquiry were:
Revelation of an alleged price-flxine
conspiracy by the Chicago Retail
Lumber Dealers Association.
Disclosure of a "diferential rate
combine entered into by certain cement
manfacturers and tha Chicago Build
| ing Material Exchange.
The lumber combine revelation came
during the closing minutes Of the ses
sion, while Frank J. Burns, chairman
of the wholesay market cost com
mittee of the Chicago Retail Lumber
Dealers Association, was on the stand
Mr.. Burns admitted that every mem
Der of the association was compelled
to furnish sales lists to the organiza.
tion and that on these figures a table
was compiled alloting certain percent
ages of the city's business to tbs
various firms.
Henry Wade Nelson, of Mellon, Stu,
ait & Nelson, Pittsburgh contractors
testifying before the Daley Committee
said that Simon O'Donnell, for.
mer president of the Building Trades
Council of Chicago, had demanded
| $4,000 damages from the Chicago
Alton Railroad for bringing uon-unioE
labor to Chicago to work on the new
Union Station.
According to Mr.. Nelson's testimony
O'Donnell first asked for $4,000, ther
increased the demand to $4,000. Graf
payments of $4,000 to Joe Moreschi
president of the Hod Carriers anc
Building Laborers' Executive Council
and $500 to q representative of the
plumbers union, also were made in
connection with this work, the witness
| said
Henry T. Douglass jr, chief engineer
| for the Chicago & Alton, charged thai
the contractors were forced to pay
| $4,000 "license fees" to unions fol-
permission to do work in Chicago. Mr.
Nelson denied any knowledge of thi.
angle of graft.
Senator Daley, chairman of the com
mittee, announced that the books o.
! the contracting firm would be exam
ined in an effort to determine whether
/ The money was paid.