davidaulloa/AmericanStories huggingface dataset:
Vashon Island news-record. [volume] (Vashon, Wash.) 1919-1954, 1921-07-08

twy Of commerce, and the Office
so enlarged as to give him al
most lhnitless power in the work
ing out Of reconstruction ideas,
And now Mr.. Taft is made JUS
tice of the supreme court of the
Y. S. Mr.. Harding knows what
is in the air. He knows the peo-
pie are anxious to have the U.
S. lead in some sort Of a plan to
stop war. He is slowly working
to that end. But il will take
time to lead the popular mind
away from the Wilson League of
Nations and to prepare it to re
ceive the same thing uder a new
name. And Mr.. Harding is doing
that very thing. Ii may take a
year, and it may take the re-
naming three years of his adj
ministration.-but if some cove
nant of nations isn't adopted be-
fore the presidential election of
1924, the clear-cut paramount
issue will be that very thing. And
the party that favors such a
covenant, or association, or com
pact, or league, will win, in our
opinion.
Vashon Island news-record. [volume] (Vashon, Wash.) 1919-1954, 1921-07-08
A GREAT PREACHERS CON
FESSION TO HIS FLOCK
(Reprinted by Request)

TT ENRY Ward Beecher's sue
IL cessor in Plymouth Church,
DR.. Newell Dwight Hills, has
barred his heart to his congrega-
ton in a personal statement ex-
planning his business deals, of
which there has been a good deal
of gossip.
He had accumulated, by lee
turing and other services, the
preacher said, a sum Of money
the magnitude of which he was
ashamed to name, in view of the
small wages paid the working
masses of humanity. This money
he had invested in projects that
were recommended to him and
seemed to promise large profits,
but which, following the depres-
sion and panic of 1908, turn
ed out Improbable.
Now he finds himself just
about even with the world. By
selling his handsome Brooklyn
home he will be able to clear up
his debts and "start life over. .
In the course of this confes-
sion, DIR. Hills said:
Gotten have taken honors
when l should have chosen soil
tude and dwelt apart and listen
ed to the voice of God and tried
to be true prophet of God to
you. For several years | have
had a growing conviction that
a minister has no right to make
money, and does his best work
without it.
"My deepest thought is that
there are home missionaries and
foreign missionaries and social
settlers and neighhorhood visit
ors whose shoe latchets | am not
worthy to stoop down and UNI
loose.
''At best, the longest life is
short-all too short for the
noblest of tasks, that Of the
Christian ministry. Nothing can
be higher than the call to shep.
herd Christ's poor and weak, and
happy the minister who has new,
cr secuIarized his sacred calling
and who, at the end Of his life
Vashon Island news-record. [volume] (Vashon, Wash.) 1919-1954, 1921-07-08

Burns caught the same inspira-
ton when he pleads in his great
song of Democracy:
Then let us pray, that come it
may,
AS come it will for a. that,
When man to man the whole
world DER
Shall brothers be, and a tina"
No sooner had the pIoughboy
of Ayr laid down his pen than
in this new country of America
our own Longfellow wrote in his
poem on "Concord":
IF half the power that fills the
world with terror,
If half the wealth bestowed on
camp and court,
Were given to redeem the human
heart from error,
We'd have no use for arsenals
and forts. y
The world has just gone
through a sickening spectacle of
the horrors of war. And what
has it accomplished? Who dare
stand up and say that any of the
millions of lives given, were not
given III vain? Tell us what the
great war has settled? 1t made
thousands of millionaires, it i'm
Ipoverished dozens of nations, it
bewidowed and beorphaned hun
dreds of thousands of women and
children, and the curse it has
left behind will blight genera
tons yet unbon-and what did
it settle? eyes, it was a famous
victory" as Southey said-and
that's about all.
Light Is Breaking
But the light is slowly break
ing over the earth. In this coun-
try, the last election was not the
result of solemn referendum
! of the people against peace by
arbitration. The three greatest
leaders of the republican party
last fall were each in favor of
some kind of a world court OF
arbitration-some sort of a lea.
que of nations to maintain peace
We refer to eX-president Taft
who is President of the League
to Enforce Peace, to Former
Justice Charles Evan Hughes
who was an advocate of the
League Of Nations, and to Her
bert Hoover who was easily the
most popular world figure in this
country during the war, himself
Iiu favor of the Wilson treaty.
What has happened during the
past six months with these men.
Mr. Hughes was made Secretary
of state easily the next posi-.
ton to the president Of the U
Is. Mr.. Hoover was made secrc
The Washington times., 1921-07-26
vAsn4 APSssBa BUSINESS S. AND FINANCE
Big Demand for NelU
Amer. Tel. & Tel. Stock
EDITED BY
WILLIAM M. CONRAD

The American Telephone Telegraph Co. that
rights to subscribe to 90 per cent of the
stock have been avaed of and subscriptions received therefor
II is expected that the balance remaining will be applied
toward meeting subscriptions already received from employees
under the companys employees stock plap
On May 10 American Telephone Telegraph Co. offered
500 stock at to shareholders record May
TO- in ratio of share for every five shares held
Rights to subscribe to the stock expired July 20.
On March So 1920, companys capital stock increased
by 100000 bringing authorized capital to 900
Including the s9O,Ooo0OO stock there is S532,82s,OoO
stock outstanding
Wall street pleased with the response to the American
Telephone and Telegraph offering Stock not UNDERWATER
being direct offer to shareholders The response
preston the part of shareholders both old and new of their
belief in the future of the great corporation
That the heavy subscriptions the 100000 issue will
add to the fast increasing of American Telephone share
holders goes without saying.
1t too early to give the total but early in july including
10000 employees paying for their were
stockholders making the list of investors the longest in the
United States and comparing with the Corpora
ton The company has been adding shareholders at the
rate of 5000 monthly.
Moneys received from the subscription will take care of
plants needs for about year and will be used this way
throughout the system.
The Washington times., 1921-07-26
Wholesale Produce
Market
FURNISHED BY Tidswater Lines. mo

The egg market continues to rise.
Live and dressed poultry shows some
what lower prices. Other commodities
remain steady.
Quotations are as follows:
EGGs--strictly fresh, 3sc: average. 34c.
PoULTRY-Apve; BOOSTERS, noise per
ID. turkeys, .35u36c per ID; chickens,
keats, young. so675c ZACH. Dressed
Fresh Killed spring chickens, IS case per
ID; hens, s7c per ID; boosters. 500 Tie
per ID. turkeys, $50 toc per ID.
roRK-Dressed: Small, $50 per h.
medium. l30l&c per h.; heavy. 100 40
LfvEsToCK-csives: choice. Toe Der
h.. lambs, choice. lo9i1c per Id.
APPLES-Bbls, NIrginiss and West
virsiniss. No. 1 York In,pcrials, sf0fo,
Ninessps, best. IS; poorer, 1850: yellow
winsssP. best. sioi poorer. ~; ben Davis.
BLACKBERRrEs-1s9 soc Per quart.
CABBAGE-Homegrow r.250tBo per
CoRN-i.oom,oo per crate
CUCUMBERs-tI 5oQa7S per bushel
LETTuCE-sl. 5o6aSo per crate.
oNIoNs.stsnd crates, Nos and
NEUTRALITY-SUSPICIOUS. a. and turning
'e NEUTRALITY-SUSPICIOUS.. s.7Sesm
EGGPLANTS-Per crate, s2.oo0soo
WHITE POTATOES - North Caronns
ana virsinihst Irish Coolers No l. per
wATERMELoNs-Ge and Flor
idss, Is 20 20 lbs, zoo 7so; Is to SO lbs,
,L5GsMoNs-c.lifornta, per box. $4,000
The Washington times., 1921-07-26

NEW YORK. July ga promi-
nent broker issued this unique com
parison: 'The present situation of the
stock market. in view OF the very i'm
portant constructive work being done
In Washington. seems to suggest a
common occurrence in large cities.
Passing prominent corner sur
rounded by board fence one notices
q sign THE - Foundation Com
pany." For weeks and maybe months
work goes on behind this fence and
many people pass II daily with little
or no thought Of its importance or
promise.
Excavations are made, caissons
are sunk, granite blocks placed in
position. and the foundations OF a sky
scraper are built. Then down comes
the fence and up goes wonderful
building, higher and higher before
any one realizes 1t; when by simply
peerinR over the barrier one could
have realized just what was to hap
pen.
Let us look over the fence how and
see what wonderful financial foun-
dation is being laid by the far-seeing
The Washington times., 1921-07-26
ruy,,.s,s by W. b, Hibss q COZ
Sanitary Grocery Co.
Assumes Business Of
J. T.. Let's Co.

The Sanitary Grocery Com
pany, Inc, has taken over the
business of the John C. Let's
Grocery Co., Inc, as Of July %,
according to announcement made
in financial circles today.
The new corporation, which is
a Virginia one similar TO the one
it succeeds, taxes over all the
assets of the John g. Let's Gro
Gerry Company, including real
estate, merchandise, book ac-
counts, machinery, motor equip
ment, furniture, fixtures, bank
accounts, good will and leases,
together with all and singular
the assets heretofore owned by
the said Let's Company and will
continues the combined business
under the name OF the Sanitary
Grocery Company, Incorporated.
The John c. Let's Grocery
Company and the Sanitary Gro
Gerry Company having been in
operation since 1909, under the
management of the same cor
porate officers, it was thought for
the best interests of the two
companies to consolidate.
The Sanitary Grocery Com
pany assumes and will fully dis
charge all obligations heretofore
contracted by the Let's Com
pany.
The merger was effected with
out any change in the owner
ship of the corporate stock and
business policy heretofore main
tanned in behalf of both COM
panies.
The financial stability will be
equal to that of the two COM
panies combined.
John c. Let's is president and
will be continued treasurer,
z. G. Yonkcr, vice president,
and Harry Hoshnson. secretary.
The Washington times., 1921-07-26
War Finance Corp.
MaY Handle Credits

The Administration will ask
Congress to authorize the War
.IddHce Corporation to handle
the entire problem of extending
credits to the cotton and agricul-
tural industries, the railroads and
for export trade, Secretary OF
Commerce Hoover announced to-
day.
Secretary Of the Treasury Mel
lon is now preparing legislation
to be presented to Congress
which would grant the desired
authority and place the entire
problem of Government aid In
the War Finance Corporation,
Secretary Hoover announces.
The Washington times., 1921-07-26

ANY person who begins to tinker
with the financial structure must as
7 certain "a the use to which the lie
sired funds are now devoted (for, of
course, they are not idle). (2) the pos
sible emergencies which may yet
strain the liquid resources of each
. institution, az the ability to divert
into different channels. and 10 that
depositors and loan holders desire
that their funds shall be directed in
particular lines of investment which
may change according to the idens
and assumed needs of persons who
accept no corresponding responsibility
for resources.
ITO sum up the situation as to
housing finance, no proposed remedy
is adequate which is not based upon
certain truths:
Il. Housing win not multiply until
there Is market for the finished
product.
90 This is largely a question of
price, of willingness to tie UP capital
lin houses rather than in other things,
and cannot be effected by any mere
theory of a certain manufacturers
!, association that . workman can AT
ford to pay $4,000 for cottage be.
cause the building will last so or
100 years.
80. Money and credit are scarce and
there are neither billions nor millions
available for investment in new cen
struction now.
"a Construction activities cannot he
sustained or even stimulated by refer
ence to house shortage as Is often
ATTEMPTED.
"5. Until there is market which
The Washington times., 1921-07-26
.UNDERTONE OF
STOCK MARKET
IS MUCH BETTER
Trading, However, Continues
Sluggish, With Rails Having
Special Attention.
BY MAX KASE.
international News Service financial
Editor.


NEW YORK. July 26,-Thare was
a moderate Improvement in the un-
dertone to the stock market, follow
ing a period of heaviness after the
opening, Toward noon number Of
specialties became active and strong
and the list generally rallied from
the low levels of the first hour.
Most interest was attached to
United States Food Products, In
which concentrated buying caused an
advance from l6h to IS.
Cosden was In brisk demand, ris-
ing over one point to 29&. and there
was sudden development of strength
In California Petroleum. Witch .ose
from san to SO. Canadian Pacific
was another firm feature, moving up
from 112x to 1iSS.
Trading generally continued slug
gish.
Many of those who had taken full
position on the railroad issues believed
1t was better to wait until after the
publication of President Harding a
communication before making further
commitments In railroad shares.
The money situation did not show
any special change.
1t was thought that the supply
would increase and that all brokers
requirements will be filled promptly at
or below 8 per cent.
The Washington times., 1921-07-26
BLUE SKY BILL
HAS OPPOSITION
Of BIG BANKERS
Investment Banking Leaders. In
Session at Milwaukee, OPP
pose Denison Bill.

Governors OF the Investment Bank
ers' Association of America, at the
Milwaukee meeting. voiced disappro-
val Of the Dsnison Blue Sky bill.
introduced IN Congress on June IL.
The opposed bill seeks to have the
Government assume the same regu-
lation of security offerings as that
exercised by various States.
The governors said In statement:
ut would mean that before any
security of countrywide reputation
could be offered for sale II would
have to be approved in practically
every one of the thirty-eight States
having blue sky laws In force.
This legislation In effect opposes
not only the blue sky laws in the
thirtyreisht States. but II also affects
as Federal laws all of the rules and
regulations made from time to time
by the blue sky commissions under
those laws.
/ 1T would be almost a physical i'm
possibility for an honest dealer In
securities to know ut the time Of
offering any security for sale whether
or not the laws or regulations of any
State had been changed since he last
knew Of them"
The Governors went on record as
favoring House OF Representatives
Bill 1868. intended to curb the sale
and offering Of fraudulent securities
through the agencies OF special com
mittees In the Federal Reserve Bank
districts. II is the purpose Of this hill
to have these committees so organized
that as soon as an offering of fradu-
lent security comes to their attention
they will inform the Federal Depart
ment OF Justice so that the legal ma
chinery may be set in motion. not only
to stop the further offering of such
security. but to punish the offender IL
he continues to offer them.
The Washington times., 1921-07-26
New York Cotton Market.

NEW YORK. July 26.-The cotton
market was quite steady at the open
ing today and while first prices de-
clined to 10 points under last nights
close. there was a good demand from
shorts which quickly restored the loss
and at the end of the first firteen
minutes the market was a shade
higher than last night.
The South was again the principal
seller while Wall Street and trade
interests bought. There were twenty.
two notices in circulation this morn
ing.
Cotton opening prices follow: Au-
gust, 11.65; October. 1871; December.
II go; January. l2.62; March. 1915.
The Washington times., 1921-07-26

will absorb new construction In COM
Petition with old, building will NO.
revive.
IS. This is not the time to agitatc
forcing capital INTO second mortgages
investments which confer the RICH;
% pay a first mortgage in a large
majority of cases.
The American Bankers Association
has given close attention to mo. =
gage loans which bulk so large among
assets OF financial institutions and
the other funds. endowments. and
estates under their charge, but there
is a vast difference in loea5 and all
of these funds are distinctly private
in their nature and cannot be N.
vested under complsion of law AMI
in the future will be distributed &C.
cording to economic forces which are
beyond the reach OF the legislators.
The Washington times., 1921-07-26
WOOD AND FORBES PLAN
VISIT TO CHINA, JAPAN

MANILA, p. l., July 2s.-Maj. Gen.
Leonard Wood and w. Cameron
Forbes, who. as the heads OF a com.
mission from the United States have
been making an exhaustive investiga.
ton Of Philippine affairs. will. leave
Manila for China and japan about
September 10. They have received in.
vitations from many sources In Chin,
and Japan to visit those countries.
The Washington times., 1921-07-26

companies and life insurance
companies, is 100 per cent
wrong, according to w. A. Sadd,
president of the Savings Bank
Division of the American Bank
ers' Association, IN a statement
issued today.
Mr.. Sadd in taking exception
to Secretary Hoover's remarks,
said, "The institutions to which
Mr.. Hoover refers have total
resources which are distributed
approximately as follows-mu-
tual savings bank, SO, 500, ooo,-
600, building associations, ST.
100000, 900; savings national
banks, estimated 100000
The Washington times., 1921-07-26
Chicago Grain and Provision.

CHICAGO, July 2Ss--Wheat opened
Y to u higher; corn. u higher to Il
lower; oats, u to X higher; lard and
ribs he higher. Opening:
wheat--september. LISA OLA; De-
cember, l,27.
Corn-July, s46N: September. SIN
az; December, 6lhGh.
Oats-Scptember, 40Q39T; Deem
Lard - September. 1900; October,
1910.
Ribs-October. 1852.
Der, 42A
The Washington times., 1921-07-26
Foreign Exchange.

NEW YORK, July 26.-The foreign
exchange market opened steady to-
day with demand sterling q cent
higher at $S.5ss. Francs rose one
centime, 7.73 for calls and 7.72 for
checks Lires yielded u point to
4.35 for cables and 4s< for checks.
Belgians rose one centime to 1855
for cables and 7.b< for checks.
Other quotations are: Guildef. ca
Bile 3l.I2, checks 31.10; Sweden Kro-
men cables 20.3o. checks 20.25; marks
127
The Washington times., 1921-07-26
Soft Coal Output Declines.

The Geological Survey states that
production OF soft coal failed to re,
cover after the interruption by the
Fourth Of July. Total output during
the week ended July l6 ia estimated
at 7,359,0o0 tons, as against 1858 900
tons in the last preceding full.time
week. The average production per
working day, which declined from
100000 tons In the week ended July
2, to 1897 900 In the week of indie.
pendence Day, dropped now to 1,22T,-
900 tons. a decrease In two weeks Of 4
per cent.
The largest elements In the present
decline are a falling off In the lake
movement and in exports overseas.
The Washington times., 1921-07-26

ooo companies savings data state bank savings no
data life insurance companies, $1,000 100000. .
perhaps" said Mr. Sadd he two items not now available
will make gross approximang Mr. HooverS
estimate of ooo but he 100 per cent wrong IN
advising that this be regarded the total sum OF money
available for loans to support home building.
Tha amount not available for home building NOT over
onehaf of possibly be tied in real estate security
and the amount loaned upon real estate security by those
institutions be very materially Increased because OF other
demands which confront each Individual institution
The Washington times., 1921-07-26
Central Leather Report.

While the Central Leather Con.
psny in its quarterly report To Re
issued at noon will probably not sho,v
the big Improvement 80 many exp.c
II VIII undoubtedly De better than &c :
the first quarter, when a deficit ef
$s,o3s,oll was reported.
The Washington times., 1921-07-26
New York Clearing House.

NEW YORK, July 2s.-Clearing
house statement: Exchanges. 1874
100, 900; balance, s6S,sO0.OoO; Federal
reserve bank credit balance, $685.
zoe, 900.
The Washington times., 1921-07-26
A Repetition.

The bond market is due to seeths
and boil before the real Investment &C
cumulation of stocks that marks the
beginning of substantial move will
develop.
The Washington times., 1921-07-26
Liberty Bonds.

NEW YORK. July 26.-Noon LID
.rty bonds quotations: ava, ss!'is:
lst 4A's, $S7.74; End AS, Sl.oo;
srd AIS, $3.50; 4th Ans, $3.50;
Victory AVS, 39s,46.
The Washington times., 1921-07-26
Reserve Notes Decrease,

National bank notes outstanding
July %, s73s,s21 ,227; Federal reserve
notes, s13S,533, 400. For week ended
July %, national bank notes increased
S2.16S.481; Federal reserve notes de-
creased $3,448, 900.
The Washington times., 1921-07-26
Local Stock Market.
SALES

After call:
Potomac Electric gen. SIS, 81 ,o00@
s5h; $1,000 o 95k; 81 900 % S5 ";
81, 900 u s6k; 800 q sSk.
Money: Call loan funds offered at
81 per cent with 6A per cent bid.
The Washington times., 1921-07-26
Liverpool Cotton Market.

LIVERPOOL. July 26.-Spot cot.
ton was quiet at the opening today.
Prices were easier. sales were 5000
bales. American mds., fair. 1913;
good mds, SIS: fully mds., $50. mds.,
7.s8; low, 7.o3; good ordinary, SIS;
ordinary. SIS.
Futures opened steady.
The Washington times., 1921-07-26
Wall Street Gossip

executives In Washington, and also
visualize the size and importance o
the foundation being laid for the mar
ket for securities"
The Washington times., 1921-07-26
Hoo0er 100 Per Cent
Wrong, Ayers Banker

Secretary of Commerce Hooves statement that there S22
100000 available for home building the mutual savings
savings national and State banks building associations, tru
The Washington times., 1921-07-26
Baltimore Gran Market

BALTIMORE. M July g.
Wheat, firmer. No red wi tier,
S1.s7h; No. 2 red WINTER atjlcky,
s128k. Receipts, 370,3i6 shells.
Shipments, 240,099 tushC'E.
Corn, firm. No. yellow onmestic,
sac. Receipts, 2,4ol buShcls Ship
mcnts, S35 bushels
Oats, steady. N" , white Domestic,
sic. Receipts non Shipmsn $500
bushels.
Rye, easier. NJ, 2 Western export
spot, s1.2SA. RoneiUts, 5a,faD bush.
els. Shipments, 81 4o5 hush els,
Hay, quiet. Prices Irregular on new
hay.
Flour, steady.
The Washington times., 1921-07-26
Studebaker Selling.

Some selling Of Studebaker is now
apparent from large commission
house.
The Washington times., 1921-07-26
The Curb Market.

FURNISHED by W. b Hibbs 4 Co.
The Washington times., 1921-07-26
Today's Bond Prices.

Received b. gsdruond = COL