davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
EStockReuieu,
Furnished By Thomson & McKinnoi

Furnished BY Thomson & McKinnon.
NEW YORK. Jan. 31.-During
the past week we have had only a
moderate volume of business on
the Stock Exchange. but the action
of the market has been in many re-
spects very interesting and indicates
a soundness in fundamentals, as well
as in its technical position.
On several days, selling was ag-
gressive, but il had all the ear-marks
of professionalism. 1t was not ac-
companied or followed by any com
mission house liquidation. On the
contrary, in each of these periods of
weakness buying orders through COM
mission houses increased and offer
ings were quickly absorbed. and as a
consequence the sellers in their effort
to recover stocks sold were obliged to
bid aggressively, with the result or
price recovery.
\, There were number OF factors
which helped TO strengthen the public
view of the soundness of the market
and encouraged continued buying. We
had the reports of the United States
Steel Corporation and the Bethlehe n
Steel Corporation. both of them show
ing a surprisingly profitable year, and
we were especially encouraged in view
of the fact that pessimism had taken
such a strong hold of the public mind
during the closing months of last
year, and this naturally leads to the
thought that we had over-discounted
the depression in business. In view
of the showing made by these COM
panies, are we not justified in looking
for surprises when other corporation
reports are published? Then we have
had the announcement that some
progress had been made by the stock
holders in their fight against the fore
closure of the Denver and Rio Grande
Railroad, and this fact in itself en-
couraged further purchases of rail-
road shares.
The Northern Pacific was distinct
favorite during the week and prom
Uses to continue so, as there are in
teresting possibilities for the road
growing out of the development of
the company's oil properties.
Some of the buying of railroad
shares was credited to English in
vestora and with the continued rise
in sterling exchange this should be-
come a more important factor.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
FOREIGN EXCHANGE.

Further progress in setting the
German indemnity is reassuring to the
financial district. Prominent bankers
are practically unanimous in stating
that the settlement of this matter
should have a beneficial influence on
foreign exchange and should tend to
stabilize rates. This. they state,
should accelerate industry abroad, re-
suit in increased manufactures and
larger exports by the European coun-
tries. Higher rates for foreign ex-
change would also increase the buy
ing power of foreign countries in the
American market. The credit of the
foreign countries is also expected to
be enlarged by the absorption in the
United States of additional foreign
loans. Great Britain, it is declared,
is already sounding American inter-
ests regarding the extension OF it's
obligations to America. Notwith-
standing the unfavorableness of the
European situation a good demand is
reported for the bonds of foreign
countries, and this Is acce1erating
preparations for the offering OF new
issues. Expectation that foreign ex-
change will continue to rise is found
in purchases Of the external bonds Of
the largest foreign powers. This is
particularly true with regard to
France.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
BROKERS URGING
RAIL PURCHASES
While Railroad Leaders View
Outlook With Misgivings Wall
Street Does Not.
ny BaOADAN WALL.
Resisterea ~. 3. Patent Oniee.

Notwithstanding the sorrowfui-
looking picture being painted by
railroad executives OF the outlook for
the transportatioh companies the
large brokerage houses in Wall street
advise the accumulation OF the rail-
road shares and investors oversub-
scribed an Offering Of s60,OO0,OOO OF
collateral trust bonds by the Penn
sylvania Railroad Company. In other
words, the railroad managers and In
vestors are divided In their opinions
OF the future for the transportation
companies of the nation.
Earnings OF the common carriers
for December were not as favorable
as had been expected. but most OF the
properties show increases in net
over the corresponding month OF last
year. The showlngs for the twelve
months ended December 81 last are
very unfavorable, but traffic was
hauled during the greater part OF that
time at much lower rates than are
now being obtained by the common
carriers. r..
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
POOL OPERATIONS FUTILE.

Pools have been formed in many
Industrial issues, but despite he
churning OF the respective shares
have been unsuccessful in most in
stances in attracting following.
Pool members also find that owing
to the thnness of the market for
their shares in the absence Of the
public IL is difficult to dispose of the
issues. The public has not come
forward despite the sharp rise that
has occurred in the industrial de-
partment since the low level reached
last December. For this reason the
large commission and wire houses
are advising the sale of the indus
trials and the purchase OF the rails
which have done little or nothing
since the December smash. The con-
tinued absence of the public Is demon
strated by the small volume of Dor
rowings by stock exchange houses,
Even the cash buying. which was
heavy about three weeks ago, had
practically disappeared.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
MIGHT LIFE" STOPS
/. FOR MURDER TRIAL
Underworld Revelations Prom
ised When Texas Sheriff
Faces Jury for Killing.

DALLAS. Tex, Jan. 31.-The pic
turesaue night life in West Texas oil
town cabarets. dance halls and rag
town roadhouses will be barred here
at the trial OF b. II. Hughes, former
deputy sheriff OF Stephens county, be-
ginning February Z. on a charge OF
numbering A. L. Lockhard last Mo-
vember, according to Assistant At
torney Claude McCaleb, Of stephens
county.
McCaleb declared startling revela-
lions OF the oil field underworld"
would be made at the trial for which
cabaret dancing girls, road house
bouncers. gunner, bootleggers, gam
blers and State rangers. he said, have
been subpoenaed as witnesses.
The prosecutor said an effort would
be made to prove alleged collusion be-
tween the law enforcement officers
and bootleggers at the time of the
death of Lockhard. The shooting re-
suited in sending State rangers to the
oil fields to stamp out alleged liquor
traffic and other alleged crime there.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31

man Gates Dawes. he early attended
Marietta College where he received
the A. b. in 1884 and the degree OF
l.. l.. b, in 1857. He graduated from
the Cincinnati Law School in 1886.
In 1889 Mr.. Dawes was married TO
Miss Caro- ID. Blymyer. of Cincinnati,
he being engaged at that time in the
practice of the law at Lincoln, Neb.
Later he became gas magnate and
interested in projects at Eevanston,
H.. La Crosse, Wis, and Seattle,
Wash.
He is member of the Chicago,
Union Leaguefi Glen View, Eoston,
Evanston Country, Evanston Gold.
and other clubs.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
IN a. CONRAD
Buying Public Holds
Back, Harding Says

tail traders are doing il found In the
report OF wholesalers TO their various
bank connections. A glance at a few
OF the hgures and facts brought out
by the Federal Reserve Boards in
quiry shows the extent OF the con
the waiting attitude OF the public has
had upon business.
RETAILERS HOLDING BACK.
Retailers are not proceeding with
their plans for restocking, as In
former years. expecting a better price
level may be reached. Declines in
wholesale lines. in consequence. are
very general. the board is Informed.
The wholesalers have few unified
orders. in contrast TO the heavily
booked business OF other years.
Representative Wholesale dry goods
firms which usually at this time OF
year report unified orders running
into millions OF dollars report their
books clear OF orders. The same story
is told to bankers by big dealers in
many lines, dry goods. boots and
shoes, hardware, furniture and gro
ceries. The declines in business vary
in percentages all the way from 8 to
80 per cent, according to the class OF
commodities. For example, falling on
in dry goods sales shows a drop of
so per cent in. many reserve districts
In some districts there is a drop OF 80
per cent in demand for furniture.
Governor Harding states this APP
parentiy stagnant condition in some
lines OF business is a healthy proc
ess" through which business is pass
ing. War prices and war methods
OF carrying on business had to be
changed. he says. and the community
will benefit from the resdjustments
now so widespread. He is highly
confident the public will show it's
spending power again within a brief
period.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
ADVANCING
WASHINGTON'S INTERESTS
Redmond DE- Co. and
Frazier DE- Co. Unite

An important movement in the feld
OF investment banking has been an
nounced in the combination of the
firms OF Redmond and Company, OF
New York. and Frazier and Company.
OF Philadelphia. This action brings
together two OF the Oldest and best
known houses in the investment bus
mess In the United States.
Both of the firms are well known
In financial and business circles at
home and abroad, where both have
important connections, and through
theft participation in large financing
actlyities OF high grade character,
especially in municipal and railroad
issues.
officers in Philadelphia, Baltimore
and Washington, have been actively
identified with much recent and i'm
portant financing. While somewhat
younger firm than Redmond and Com
pany, IL has since its organization In
1913 by Benjamin West Frazier and
Howard Hansell, jr., made an enviable
position for itself in the investment
field. One OF the founders of the
firm is brother OF George Frazier
formerly senior partner OF Brown
Brothers
Nearly thirty years ago the late
Henry s. Redmond organized the firm
OF Redmond. Kerr and Company
which in 1904 became Redmond and
Company and has since operated under
that name, with offices in New York,
Pittsburgh and Buffalo. and with
extensive connections in Europe.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
Single Standard Bill Filed.

DES MONIES, Ia, Jan. 31.--Single
standard OF morals for men and wom-
en-, with like punishment for both, is
the object of bill drafted by the
legislative committee OF the State
Women's Christian Temperance Union.
The bill proposes to change the age
OF consent from fifteen to eighteen
years. Two degrees OF crime arc de-
fined In the bill with penalty Of
twenty years to life imprisonment for
the first and imprisonment OF one to
Ave years for the second degree.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31

"consumers' strikes" against prof
iteers will not be broken until retail
prices slide further downward. ae-
cording to Governor. Harding and his
ASSOCIATES in the Federal Reserve
Board. They also found. In a review
OF the bank reports. the spending
power OF the public Is strong. but is
not being exerted. The public Is
waiting for prices TO show real
reductions" TO more nearly correspond
to big cuts made some time ago by
Wholesalers IN many lines.
Retailers, officials md, are not de-
luding the public by pronouncements
that they are losing money in pres
ent price reduct ion sales, which are
highly specialized and have not been
extended very widely. The Reserve
Boards hopeful view Is that the pub
lie has a big cash reserve, is In need
OF commodities and ready to buy. but
stung so often by conscienceless ex-
tortion, buyers are found extremely
cautious
The caution shown by consumers I'm
restricting their buying to actual
needs, Governor Harding thinks, is
one OF the best signs OF the times
His advices from the governors of the
twelve big reserve district over the
country say II reflects general econ
omy and a growing desire by the
public TO have and use It's available
funds judiciously. Savings bank de-
posits steadily Increasing also de-
notes that the era OF extravaganza
Is passing.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31

Washington bankers are deeply in
terested in the announcement today
that Charles Gates Dawes, chairman
OF the board OF the Central Trust
Company of Chicago and formerly
Comptroller Of the Currency. will be
the new Secretary of the Treasury
when President-elect Harding as
sumes office. ...-.
Mr.. Dawes, who was Comptroller
from 1897 to 1902, is author of The
Banking Systems of the United
States" and regarded as one of the
country's foremost authorities on
finance. g..
Born in Marietta, Ohio. in 1855, the
son OF Gen. Rufus r., and Mary Be
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
PiTTsBURG DEBATERs TO
ATTEND BALTIMORE DINNER.

Lewis Konysthy OF the Duquesne
Trust Company OF Pittsburgh; W.
L. Dunn, OF the Bank of Pitts
rurgh: Leo Griffith, Of Cassstt a.
Co, and George Rankin, jr., of the
Central National Bank Of wilkins
burg, Pa, will be members OF the
Pittsburgh debating team which
plans to debate here early in Feb
ruary with the New York team. They
will sta yover in the city and attend
the Baltimore Chapter, American In
stitute of Banking. dinner on Feb
ruary ~, according to announce
ment made today by Charles III.
Boyer, assistant cashier OF the
Federal National Bank and presi-
dent of Washington Chapter, A. l. Ii.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
FINANCIAL
Your Investment
y Policy

Costly lessons from the pX-
perience of speculative investors
viii influence the policy OF
many investors for months to
come. Men and women who
have suffered surprising losses
will be more and more inclined
TO analyze and investigate tie
foundation and character OF the
securities they are invited to
purchase. Conservatism VIII be
a more dominant note In nm
ancial commitments.
Such tendencies create new
strength for the appeal Of our
First Mortgage Notes on i'm
proved Washington real estate.
These securities are back cd by
land and property values which
do not vanish in the face OF FIN
ancial depression and necessary
liquidation. Their income. bear
ing value Is one of the few con-
slant factors in a varying finan-
cial world.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
WAGE CONFERENCES.

The financial district attaches much
Importance to the conference which
will be held this week at Chicago
concerning the reduction in wages
being urged by the transportation
c1n,Ie Transportation heads de-
clare that il is absolutely necessary
that labor consents to a reduction In
wages IL the railroads are to be
placed on a paying basis. Some OF
the roads. particularly the Atlanta.
Birmingham and Atlantic have gone
ahead and disregarded the Adamson
law and cut wages. A heated and
drawn-out battle between the rail
road heads and the representatives OF
railroad employees is expected to de-
velop, and IL Is not expected to be
without influence on the securities of
railroad companies.
Bankers advising the purchase Of
the transportation shares believe that
the decline in the price of materials
and smaller working forces will more
than Offset the falling off in traffic
which is now being experienced, and
for this reason look for increases in
net Attention is directed to the fact
that, despite the business depression
which followed the panic in 1907,
ec-nings contracted only from 8 to 8
per e..s.. No such contraction Is, ex-
pected at this time because of the in
creased rates being received.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
BUSINESS MORE FIRM.

New bank reports reflect that bust
ness men are getting upon a frmer
foundation. and generally have
started the new year under favorable
conditions. The holiday trade and
isolated reduced price sales brought
enough money from spenders to en-
able merchants to liauidate some Of
their loans to the banks. By liqui-
dating some OF the money mer-
chants thus had tied up in stocks the
Reserve Board is OF the opinion that
within the next sixty days or, at
most, ninety days, there will be pro-
nounced revival OF activity In bust
ness lines. This. IL is said, will have a
tremendous effect in speeding up OPP
erations in the big mill and factory
districts now affected by suspensions,
part time schedules and much I'M
employment.
Accurate reflection OF what the re-
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
SMALLER WAGES ON CAPITAL.

Easier money conditions find re-
Election in the fact that owners Of
surplus capital are evidencing a will
ingness to accept a smaller yield on
their funds when placed in bonds.
This has been demonstrated by the
Pennsylvania Railroad Company offer
ing. which yielded about 81 per cent
on the investment, and the fact that
the new $4,000, 900 loan OF the Allan
tic Refining Company will be offered
to the public at a yield of about 6h
per cent. Up to recently new secur-
ity offerings by the best industrial
companies have yielded per cent.
bankers declare that there
is no doubt but what the trend OF
yields on securities is now toward
lower rates. This reflects "a more
plentiful supply of money. A sharp
drop, however. is not expected. Time
money is working easier, and the call
rate on the New York Stock Exchange
would be lower except for the fact
that the out Of town institutions
which up to about two weeks ago had
large amounts loaned on call in New
York city have been withdrawing
their funds.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31

especially England, France and Hot
land.
The new hrm will continue the bus
mess OF both houses under the name
of Redmond and Company and VIII
remain members OF the stock ex-
changes OF New York. Philadelphia
and Pittsburgh. The partners In the
new nrm are Franklin =. Brown,
BENJAMIN West Frazier, Howard +.
Hsnsell. jr.. J. +. B. Mitchell, A. Perry
Osborn and Warren ;, Jarvis.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-31
OFFERED ZIG FORD JOB.

Walter A. Campbell, vice president
and treasurer of the Canadian Ford
Motor Company. has been Offered
the vice presidency and treasurership
OF the Ford Motor Car Company. of
Highland Park, recently vacated
through the resignation of Frank
l.. KIingensmith, according. to news
received here. During the latter's
re gime the position carried a salary
of $4,000 a year. 20 &c..
New Ulm review., 1921-11-30
DISCUSSION OF FIFTH
NORTH STREET HIGHWAY
Contention offered That the
Bridge Should be Built at
Center Street.

There is considerable discussion Of
the project to build the new Highwater
Bridge on Fifth North street and some
objections have been reported to the
Review for public consideration. 1t
has been said that the plan was to
make Fifth North street the main
highway but, according to Mr.. Henry
N. Somsen, the plans as drawn at the
present time do not contemplate ex-
actly that. Mr.. Somsen says that
the road will cross the river at Fifth
North and then follow Front Street
to Third North, then coming up to
Minnesota street, to carry the traffic
thru the city.
Otto Heymann voices his opposition
to the Fifth North street bridge in nc,
uncertain terms. He says the cost lof
construction at that point along the
river will vastly exceed the cost of
getting to the Nicollet side provided
the Center Street crossing were en-
ployed. Mr.. Heymann points out
that the Center Street expenses for
putting the Highway into condition
from Front Street to the river will be
practically nothing unless it should be
decided to pave Center, whereas the
New Ulm review., 1921-11-30
FROM DESPAIR TO HOPEFUL.
NESS. s5s

In come ction with the 18th Annual
Sale Of Christmas Seals, which started
November 25, DR.. VIM. r. Wild,
executive secretary Of the Minnesota
Public Health Association, calls att
tention to- the changed attitude re-
garding tuberculo losis. DR.. Wild says:
IF we turn our minds back genera
ton, a situation of hope pelessness and
despair presents itself. People with
tuberculosis did not worry as to how
long it would take to have the disease
arrested; their friends and sneig ghbors
gave no thought to the fact, that some
thing could be done; sfor a, gloomy
pessimistic feeling pervaded the at
mosphere. The one thought Of both
patient and friends was how soon
would death leave it's call; and this.
feeling was more than justifable, for
at that time, when tuberculosis was
discovered, !, it had in truth and in fact
taken hold, for the. reason that the
disease was not discovered until the
patient was on the brink of the grave.
Through education, people have
been made to realize that there is hope
for one with tuberculosis if the disease
is detected early enough, and in an
enormous number Of cases the disease
is detected early enough, and the
patient sent backsinto the world able
to earn a livelihood. The disease is
being diagnosed earlier and earlier with
the result that thousands, who are to-
day living, would be dead, if the older
order still existed. f
sFor many years the National
Tu berculosis Asso ociation and it's affili-I
ated State and County Public Health
Associations have been teaching.
preaching and educating so that the
people would realize the Importance
of preventing tuberculosis. And each
year, as Christmas draws near, the
little penny seal is offered to all. The
constant hammering, year after year,
ION the subject Of tuberculosis has made
the people realize that something can
and is being done. The result is that
last year the death rate was lower than.
lit has ever been in the history Of the
state
New Ulm review., 1921-11-30
HOW TO SPEND A NEIGHBORLY Y
CHRISTMAS.

& 4 - ] +
Form Community Service New York.
7 When the chill Of winter begins to
I,creep into the air, and the big log-fre
1 in the iWing-room is a lodestone for
5every member Of the. family, then be-
gins the ever-engross talk of what
to give Aunt Harriet and Julia what
/ father and Dick would like. And with
the chatter about gifts is bound to
come the discussion Of how Christmas
Eve and Christmas Day shall be spent.
| Somehow, during the holiday season,
plans for pleasures and fun tend to in
clude larger number Of people than
they do at any other time Of the year.
Immediate families are no longer
sufficient unto themselves And this
is as it should be. OF all days, this
day Of peace on earth and goodwill
toward men ought to be one when
good-felloWship should rule and the
community spirit be master Of cere-
monies. At Christmas time, every
town feels that something should be
done in which everyone may have a
part.
&C. But what to do? tits not the easiest
thing in the world for the Christmas
celebration committee or the neighbor-
hood, school, or church worker to find
suitable activities which are colorful,
interesting, and picturesque enough
Ito make everyone, even the veriest
EScrooge, long to participate. The task
Eis difficult, but byno means imp possible.
There is a certain rollichng jollity
[about an old English Christmas that
makes one wish the clock might be
turned back three or four hundred I
years. It would be fascinating just
once to hear the wandering .carollers
singing Good King Wencelas' under /
IA Pickering lamp in a cobbled street |
and to see the olly-decked ruddy-
checked retainers Of some bluff old /
squire, dragging the Yule-log into the
Eraftered manor house.
By organizing Community Christ
mas Carollers'' It is q simple thing for
any town to project itself for awhile,
at least,sback to an old-fashioned, old
country Christmas. Just how to dis
tribute the singers through the town,
what carols to teach them and all the
details which go to make up the
traditional atmosphere Of q medieval
Christmas Eve, are to be found in
list Of suggestions for hesuse Of music.
u s A Community christmas Celebra-
ton, . issued by Community Service,
One Madison Avenue, New York.
The learn carol ! day plan for II
newspaper carol campaign and the
scores Of Christmas songs that are
listed will be found valuable and in
,teresting. Definite rules for organ
izing 3 community for Christmas music I