davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1921-04-18
FOREIGN REQUESTS
FOR PRICES FLOOD
AMERICAN MART
European Coal Buyers
Adopt Watchful Wait
ing Policy.
OUR STATE SERIOUS
Association Reports Restrict
cd Export Business Since
English Strike.

NEW YORK. April II. = The
American coal market is flooded
with requests for quotations from
foreign buyers, who have adopted
the watchful waiting policy, says
the weekly report of the Whole
sale Coal Trade Association. Very
little actual export business has
been consummated since the begin
ming of the English strike, but each
day 1t continues strengthens Ameri-
cas- chances of securing consider
able foreign business. Leaders of
the coal trade feel that buying in
large quantities may begin at any
time now.
The American situation contin-
ues to grow more serious, says
the wholesale Geview "and the de-
preston has grown to momentous
proportions. Commercial buyers are
purchasing only for immediate re-
Quirements, instead of on yearly
contracts as is the usual custom.
and production continues to de-
crease in the bituminOus fields. I'm
less buying commences in the very
near future a recurrence Of last
years conditions s forecast.
The anthracite situation, while
still serious. is improving. and
many householders in this city are
taking DR.. Copeland's excellent ad-
vice and ordering their domestic
requirements now. The numerical
inadequacy of coal cars should
make apparent the necessity for
immediate purchase and delivery.
The bunker situation has
strengthened because of the British
strike, and a brisk trade in that
line has developed. Prices have
strengthened about IS cents, and
bunker bituminous is now bringing
from $3.50 to s6.75 at the piers. For
local consumption, bituminous coal
pool /. the best grade Is being Of
fered at $3.25 (. o. b. mines; pool 10,
$3.50. and pool 8, s2.s5 to So
The following table shows last
weeks anthracite prices:
The Washington herald., 1921-04-18

In the Forthcoming number Of the
Chase Economic Bulletin, DR.. B. NJ.
Henderson, jr, economist of the
Chase National Bank Of New York,
outlines in detail the. methods by
which Germany can pay her -indem-
nifty. The following summary o.;
DR.. Henderson's article points out
the most important steps.
The German indemnity problem is
to find a method by which German
goods and services can be trans
formed into cash for the benefit III
the British, French and Belgian
public treasures, without the forced
importation by clumsy government
tai methods OF unwelcome German
goods or unwelcome German la
borers into the French. Belgian and
British commodity and labor mar
kets. A satisfactory solution of this
can Be found only IL ordinary COM
merciai methods can be employed
The forcible seizure of movable
German assets in the form Of live
stock, railroad rolling stock, or gold
would bring in some current cash.
out would strike at the foundations
of German economic efficiency and
make impossible that sustained ef-
fort through a period of thirty to
forty-two years which Germany
must make IL she is really to pay a
substantial indemnity.
Greatest Obstacle.
The greatest obstacle to indemnity
payments at the present time Is the
deprecated irredeemable paper mark.
Sound money in Germany is a neccs-
sary pre-condition to a solution Of
the problem along commercial lines.
Sound money is an ESSENTIAL instru-
mentality of commerce. Stability in
the value Of the mark is needed.
both to make possible German in
dustrial revival so that a surplus of
goods and services can be created.
The Washington herald., 1921-04-18
FOREIGN TRADE IN
VEGETABLE OIL DECREASED
Total Imports and Exports Some $3.50 Less
Than in 19l9-Production Also Decreased.


hydrogenation process, in which re-
duced nickel Is used to effect the
combination of hydrogen gas with
the liquid glycerids of the Oh, mas
been . great boon to this industry.
By the hydrogenation process the
oils are reduced to a solid state,
which with a continuation of the
process can be made quite stiff. This
has made possible the present pers
fection of such products as lard
compound and margarine, which
are becoming more and more i'm
portant in the worlds diet.
The total production of vegetable
oils in the United States runs from
z, ,ooo. 100000 to 5000. O0o, 900 pounds
per year. of which about 40 per cent
comes from cottonseed and IS per
cent from linseed. In addition we
import anywhere from SOC, O,0oO, 900 to
over 1000. 100000 pounds of these
products.
Figures collected by the United
States Food Administration and
later by the Bureau of Census, show
the production OF vegetable oils for
recent years. Inasmuch as some
nrms report only refined oil pro-
duced, and others report it both in
the crude and later in the refined
state, 1t is difficult to get any ac-
curate summary of the total pro-
duction. The following table gives
the amount of raw material used in
the production of the more import
ant vegetable oils in the last two
years. The change in the amount
of material used gives some index
Of the change which has taken
place in the industry:
nr,I-cIA-I,
The Washington herald., 1921-04-18

the German people. On the -ath@
French. and Belgian treasu<tes
through the indemnity payututs
would make Il possible. for them TO
impose less heavy taxes than would
otherwise be necessary on their own
people. thus increasing the buying
power CT the British. FrenchTd-
Belgian peoples. The payment .of fh4 !
lnoemnity' therefore. even thauxh
accompanied by an Increased ~ S~r-~f
Foreign mot necessarily Gernhn)
goods to the British, French. ana
Belgian markets. would not dtrnin-
ist their ability TO absorb the-prod-
ucts OF their own Industry.
The same general analysis spbffer
to the whole question of iuterna-
tional payments. including the .r<l1s
payment by Europe OF her debts 20
the United States :.
Trade Balance weIeS-ed.
The so-called adverse balance -of
trade on the part OF the creator
country is to be welcomed. rssner
than feared. Before the war. Ger,
many. Britain. France the Neither
lands. Belgium and Switzerland had
unfsvorsble bals&ces Of trade, be-
cause as rich creditor countries.
they could afford TO consume raorl
than they produced The countriss
with the so-cslled favorable hal
ance OF trade before the war were
the United States. Brazil. British
India. Russia, Egypt, Siam, Haiti
and Guatemala when a dsbtor.
country paying debts in q creditor
country. sells its goods in the cred
itor country's markets. but leaves
the money with the creditor com
try in payment of debts. the total
income Of the creditor country f4s
inc1essed. and its ability to conf
sumo and enjoy is increased. There
is no reduction in it's ability TO con-
sumo the products Of it's domestic
industries. .-,os
This analysis is not in coRaict.
with the suggestion that -gueat
loans might be hoated in the out
side world to provide immediate
cash for France on the security Oh
the German indemnity. or with the
suggestion that Germany might
float outside loans with which ia
get immediate cash to pay France.
Such processes would not pay ths
indemnity. in any proper sense.
They would merely mean a shift In
creditors, other countries assuming
Frances rights as against Germany
There would still remain the pro-
cess Of liquidsting these credits. and
that process would have ITO be in
essentials the one described above.
The Washington herald., 1921-04-18
Small Portland Mills
Resume Operations

A number of small lumber mills
have resumed operations. but sew
cral large mills, which recently re-
opened, were compelled to shut
down because of restricted markets,
comparatively high costs. and sales
returns which are below cost. For
the industry as q whole, the pros
poets are for Intermittent opera
tions on a production level consid-
era bly, below normal until such Nme
as freight readjustments restore the
former competitive relations which
existed in Eastern markets. Pro-
duction in Western Oregon and
Western Washington last week was
45,574.l92 feet, or IS per cent below
normal. Shipments totaled 52.2Ol,-
747 feet OF. which 1,233 carloads
moved by water to coastwise ports,
4,713.466 feet were exported, and A.
0O7.777 feet were delivered locally.
The Washington herald., 1921-04-18


Vegetable oils have come to form
such an important part of our food
supply and of our Industrial raw
material that conditions affecting
them have q direct bearing on all
business. 1t was not so very many
years ago that the disposal of cot
tonseed as a waste product was q
serious problem. The statute books
Of many Of the Southern States still
contain laws forsidding this seed to
II dumped into rivers because 1T
killed the ash and otherwise pol
luted the water.
- To-day this seed is one of the
most valuable parts of the cotton
crop. Our total production runs
from 100000 to 100000 tons. and
is valued at around 100000. 900.
About 50 per cent Of the total value
is represented by the oil, 30 per
cent by cake and meal. while lint
ers and hulls make up the remain
ing 10 per cent.
Peanuts, which were formerly
used only as hog feed. now furnish
an important food oil. Soya beans,
rapeseed. corn, copra, or cocoanut
meat, olives. palm kernels and many
other materials are used in the
manufacture of oils to be used
either in foods or for Industrial
purposes. The perfecting of the
RAW MATERIALS USED IN P
M
The Washington herald., 1921-04-18
Britain Drinks More.

Great Britain's drink bill increas
ed by more than $500. 100000 last
year. as compared with 1919. says a
report to the Department of Com
merce from Consul Hunter Sharp.
at Edinburgh. Scotland. The amount
spent on intoxicating liquors in
the United Kingdom in 1920. the
consul says. is estimated at s2.-
2s5, 5,7s5.050 as against S1.s7s,4e9.0O
in 1919. The total however. is about
"a per cent less than before the war.
The Washington herald., 1921-04-18
State and Municipal Bonds.

State and municipal bonds were
not put out in as great volume in
March as in January and Febru-
ary, probably because Of the un-
favorable bond MARKET conditions
which prevailed throughout the
month. Total of new issues was
only S54.92s.609, according to the
records of the Daily Bond Buyer Of
New York, as against S71,6s0,959 in
February. and S75,746.656 in Janu-
ary. For the three months of 1921.
however, the total amount of new
issues floated is greater than in any
corresponding period in the history
of American State and city finance.
The following table shows sales of
long-term American State and mu-
nicipaI bonds in March and the
three months. ended March 81 for
ten years; Three months
The Washington herald., 1921-04-18
oDUCING VEGETABLE OILS.

decrease occurred in peanuts, copra
and rapeseed. The use of faxseed.
olives, castor beans. and palm ker-
nels increased slightly.
Exports of nearly all kinds of oils
declined in 1920. The only excep-
tions were corn oil and soya bean
oil. The most marked drop occurred
in lard compound and margarine
and in cocoanut oil. Imports of
cocoa butter. linseed oil, Chinese
nut oil and rapeseed oil increased
compared to 1919. There was q very
heavy decrease in imports Of olive
oil and peanut oil. The following
table gives the total imports and
exports of the principal vegeta BILE
oils during the last five calendar
years. All figures have been re-
duced to pounds.
The Washington herald., 1921-04-18
Russian Gold,

A recent dispatch says the Rus
sian gold reserve. which was 1.ooo,-
100000 gold rubles at the opening Of
the war. has been reduced to 12O,-
100000 gold rubles. or $4,000. 900,
according to estimates of financial
experts Of countries having repre-
sentatiyes at Moscow, who have
been studying the Bolshevist eco
nomic situation. The Russian So
Wet government also has large
stocks Of jewels and art objects not
In museums. upon which 1t hopes
20 obtain loans.
The Washington herald., 1921-04-18
England Reports
Drop in Bank ReserUe

The Bank of England reported on
Thursday a decrease for the week
Of f67S,0o0 in circulation and a de-
crease in gold coin and bullion hold
ings OF f126.
The highest percentage to date
this year was 1899 in the week end
ing February 90: lowest s.S3 jan
uary s. The highest percentage in
1920 was 23.49 in the week ending
March IS: lowest, 7.30. on December
30. Highest percentage in 1919 was
24.20 on August Il.
The Washington herald., 1921-04-18
II. o. B. Mines,

To these prices must be added the
railroad freight rate, barging and
towing. stevedoring. and delivery
costs, to put coal in the retailers
yard, which, under the present
rates for these items. make up the
total that the consumer of anthra-
cite is called upon to pay.
The Washington herald., 1921-04-18
MARK IS MAIN OBSTACLE
INDEMNITY PAYMENT
Authoritative Economist Outlines in Detail
Germany's Possible Methods

and to serve as an fundamentally
for the transfer Of the value Of these
surplus goods and services in cash
to the British and French treas
uries.
To stabilize the value of the mark
by gold redemption at the pre-war
basis is doubtless impossible. Meas
ures could be devised, however, for
stabilizing the value Of the mark by
gold redemption. IL the fact Of de-
probation be accepted, and stabiIizs-
ton attempted at a low level. One
essential in this process is the
balancing of the German budget so
that taxes will equal public expendi-
lures.
Given sound currency and going
industry in Germany, the process of
indemnity payment would be as fol-
lows: UD additional taxation Of the
German people, with the accumula-
ton of surplus bank balances in
Germany to the credit of the Ger
man government; CD the transfer
by the German government of these
surplus bank balances to the gov
ernments receiving the indemnity;
go the sale by these creditor coun-
lIltS OF InclT SeTIndn DdldnCcS IN
the foreign exchange markets to
whatever buyers appeared; o the
utilization by the purchasers of their
mark credits in the purchase of Ger
man goods.
Buyers.
The buyers may be people in any
part of the world, and the German
goods may go to whatever part Of
the world offers the best market.
They would not be arbitrarily forced
into the French or Belgian mar
kets in large quantities by govern
mental machinery, but would be
drawn into markets by willing buy
ers who know how to dispose Of
them to advantage. They might, for
example, go to the Argentine, serv-
ing to pay French debts in the
Argentine, or serving to pay for raw
materials imported from the Argen-
tine to France.
Increased taxation in Germany
would lessen the buying power OF
The Washington herald., 1921-04-18

increase.
: Ordinarily the total exports of
vegetable oils amounted to about SO
per cent of our imports. During
the war years exports decreased and
imports became very much lafger.
Both imports and exports decreased
very materially in 1920. compared
with the preceding year as shown
by the following figures:
Foreign Trade in Vegetable Oils.
The Washington herald., 1921-04-18

There was a decrease of nearly 10
per cent in the total amount of ma
terial crushed last year, compared
with the year before. The greatest
DETAILS OF yEGHI
The Washington herald., 1921-04-18
Power and Light Companies Prosper

following
The Washington herald., 1921-04-18
Since the last issue of Federal Land Bank Bonds
two events Of interest have occurred, viz
Special attention directed 10 the following
Stzteu,en Of Sezstwy Of de Trsasuy Melloo,

Ths s.t'.- Ce-1 dc Usaes ssates 3, ss
esbhad Federal Of
eg as ety ;shgs"y fss. es.dsen % tts Bss, ..<.st G
% s.se. .ysryus ne U.id Sa.s s.d Of he sAse s--y
bos<s
s.A4 ,.sfsess re ee.s tsH f.'rs Of ne uE
S1 1 Th wl se.ea d~.o.S for losfr iear<.t
ssasstiss rsdeeobk
The Washington herald., 1921-04-18
Exempt Federal State Municipal and Local Taxson
s4o,ooo,ooo
$4,000, 900
1870 Year
Federal Land Bank So Bonds
No, -sdssm.sss ssssr.iMsy .. 1881
Dated NO. .. Is2I
Due usy ., tNt

Land Bank Bsnk
andS a.
e n from issue
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-23

f, his tact. the capacity TO work with
! others. Tho Democrat on tho Amcri-
can delegation has. forgotten Ills poll
tics. He Is an American in his activ-
tiles. us though lie were. not Il party
leader in IIs lighter moods. Men
don't shed their politics easily, even
I'm great causes. Mr.. Wilson found
that the creator the cause the mean
er tho politics.
But the hughes methods are not
tho Wilson methods. Mr.. Wilson al
ways had Industry and intelligence
at tunes he glowed with enthusiasm.
but sometimes It went dead Also
his kindly sympathy often jammed
and froze and the machinery about
him stalled. 1t is the Hughes tact
which lubricates the machinery I'm
this conference.
Comes by Requirement mud Growth
And tact has come to the American,
secretary partly as an ucouire.d
tr"it ana partly as the slow growth
of many years. He has overcome !,
tendency To brusqueness. a habit of
impatience with the slower wit, n way
or following the right. though ~
heavens fail and establish the wrong
All this. the tremendous impac, n
inc job may have put upon hin.
VT maybe he was ready with IL when
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-23

| trouble was in living. up to his prlvi-
legeS. All day long he Is on the 20,
His mail lies OH his desk unsigned and
, a day old. He Is everywhere I'm the
c0nferencc--in formal committees. I'm
private conferences. at Cabinet meet
ings. mt social functions of n semi
political nature. meeting reporters.
comforting with the advisory COM
mittee of citizens which the President
has appointed. whose advisory powers
seems to be the receiving rather than
midst OF these alarms the Secretary
the giving OF advice. and finally In tho
midst OF these alarms the scrcrctary
must meet such delegations and en-
'oEs as may drop In by way of diver
sion TO change the kaleidcscopic man
Of the world
n hard job has this American For
ciGn Minister. Yet he does IL well and
Keeps sweet. The tremendous impact
oil the job is hammer;ng him into
rather heroic size. This does not mean
mat lie is going out to run for Presi
dent. Nothing can beat harding for
me republican nomination so long as
tfnshcs does his job well. Tho nom
nation would not de worth seeking
II by any slip the Secretary should do
il badly.
hughes becomes World Figure.
yet here. under the eyes of the re-
portcrs and through them under The
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-23

lies the whole Ear Eastern question
II Is because other spvernments have
ronnscateu the Chinese turifrs tina.
China is unable to raise and main-
tain Il Standing army in an old and
wicked world. and SO is at the mercy
OF the armed powers.
To straiGhtcn out the finances and
the import duties of the Chinese is
The practical way To so ut the East
ern problend And the practical way
TO approach any problem seems to
be the spirit of the conference. Men
don't usually act this way in dipio-
macy. They did not act this way i'm,
Paris. They backed into everything
hind end IL. MIR. Wilson. who dis
trusted politicians. and SO inspired
their fear and suspicion, could not
make the diplomats go ut matters
fortnight ana earnestly.
Changed b! Hughes md Chaos.
Two things have changed them.
First. TWO years Of European chaos.
and second. the American Secretary
of state. MIR. Hughes.
Here is a bi:, man. BUT his size is
somewhat the opportunity made for
MIN by the American government.
which means the President, and the
American people. Mr.. Hughes is liv-
ing uo to the dimensions of his Job.
ne told friend today that his chief
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-23

eyes of the world. rather large man
! year ago. who had been one OF the
leaders of American politics for Il
decade and Il half. sharing honors
only with the great men of his nn-
ton. Is becoming II world figure OF
power and consequence. Hesis doing
his days work we'll In Il most simple
fashion. He practices no hocus pokus.
INDUCES I'm no winning ways. plays no
farorites. is not at all devious, not
even subtle. He Is succeeding by four
rather simply and most common
American qualities: qualities common
enough save In combinations; indus
try. intelligence. enthusiasm and a
kindly and understanding heart.
Most Americans who get ahead at
all have one or two of these qualities.
Harding has three. But the lucky
combination of tho four plus oppor-
tunity is galvanizinE Charles Evans
Hughes for his statue In the park.
When the details of this work arc
done. when the supcrstructurc about
the cdifice we ore building Is torn
a way. IL masterpiece of diplomatic
achievement will stand forth. And
MI. hughes. who has carried out the
work of the President. but with /,
free hand. must have credit for an
architects genius.
The surest arrow in his CULVER is |
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-23


ton conference. His illhcsu w.
caused by overwork and neryo,
collapse. which has been complIcat,
by malaria.
AS u result OF tho Hines the r.
sponsibiIity of the Japanese dol.
cation has developed upon Admit
Baron Kato. who has counted nm,
Baron Shldeharn to attend Ia All.
matte questions. particularly as n
fecting the Far East. In the circ,,,
stances. Admiral Kato is turniny .,
a'piomatic assistance to NJ. Hanihar
the vice. minister for foreign anui,
who camo to Washington as ono
the chief advisers to the delegate
DIR Hanihara was for eleven Won
secretary of embassy here.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-23

China has Get forth her ten points
which demand the open door and "A
permanent conference to consider
Far Eastern matters. Japan has
asked FOR the retention of subma-
r:nes and for standing army suni-
ciont I" cope with Germany.
The cards are now all on the
table. And upon the main questions
at issue agreement lin principle"
has been secured. The American dis
armament suggestions have been ac-
copied: the Chinese open door,
proposals have found thcoreticab ac-
ceptance. subject To amendment and
debate. And in the matter % her
standing army and her request for
the moral support OF tho allied and
associated powers, France has rcE
ccivcd her three cheers. which amount
to little, but which seem To satisfy
France
Now TO work out the details of
ihcs. proposals. suggestions and re-
guests III the form of letters, agree
men;S and understandings
The committee on disarmament has
been working nearly Il week. and Far
Eastern committees have started to
work cut settlement for the rev
cnuc tanrle OF China.
In the Chinese revenue question /.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-23
HUGHES TACT D|sARM|Nc
WORLD At CONFERENCE:
American Secretary of State
Rapidly Develops Into
Heroic Figure.
is HANDLING HARD JON WE'LL
NTH Americas Proposals Accepted
'.in Principlc." Washington Gather
Ing Now Must Get Down tO settle
ncnt To Make Plans Workable.
Bs Miliinm Alien Mhitc.

MASKING TuN. Nov. 2o.--Thc con-
ference has closed the formative
pcriod OF its deliberations. The
major iins OF the powers having
most At stake have been declared
America has stated clearly and def
initely her proposal for partial dis
armament. England has made her
plea for abolition of the submarine.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-23

the job Gninc. but. however. the saw
Ing grace OF his character hos been
added with the growing years OF
experience. II Is there.
80. wc Americans are witnessing
one OF those pleasant minor miracles
'hat deiight the world; the develop
incht or great historic character un-
der the responsibility OF heavy bur.
den In doing u heroic task. 1t is ono
or the most pleasurable of national
experiences.
Copyright. 1921. by United News.)
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-23
BARON SHIDEHARA
CONTINUES UNIMPROVED
Iiincss OF Japan-ae Ambassadors
Places Much Added tesponsI-
billty Upon Hnron knto.
iBy Associated Press.

WASHINGTON. Nov. 22.-The con-
dition OF Baron Shidehara. the JaDan
csc Ambassador. who has been I'll
Tor srernl days has not shown the
Improvement which had been cS-
pected. IL was learned tonight, and
although his condition Is not serious
he may be unable to resume his
work us II delegate to the Washing