davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
HARDING GROUP IS
WINNING IN FIGHT
ON NORRIS PLANS
AgricuIturalBIoc In Senate Meets
to Consider Changing Meas
ure as Compromise.
BY, j. BART CAMPBELL,
I. ". 3. Staff Correspondents.

Opposition was renewed today by
the Senatorial Agricultural bloc" to
the Norris bill to create a 800, 000,-
900 finance corporation for financing
agricultural exports.
Members of the Senate Agricultural
Committee, headed by Senator Norris,
Republican, of Nebraska, met before
the Senate reconvened TO further
amend the Norris bill in an effort TO
meet some Of the Administration OBJ
jections to It. 1t was agreed to elimi-'
nate the provisions which would have
had the Federal Government engage
in buying and selling or farm products
for export, and to cut the proposed
$1,000, 100000 bond issue to $500 000,-
600.
By changing the bill so as to make
It conform more with the Admins.
tration viewpoint, the agricultural
bloc" planned TO offer a substitute of
their own for the Norris plan, and
to thereby block the Administrations
measure. Senators identified with the
bloc declared II was their purpose
TO test the sincerity of the Admins
tration's opposition TO the Norris bill,
but even they admitted that the Ad-
mintstration's bill would probably
prevail in the end. They insisted.
however. that but for the strong SUD.
port the Norris bill had mustered. the
Administration would not have nut
forth any plan for a further exten.
sion Of credits to the farmers. even
through the War Finance Corpora.
.uon, and they expressed themselves
as not altogether dissatisfied with the
latest developmnts in the situation.
Unul the rumpus over the agricul-
tural legislat ton has subsidized, and the
Administrations bill is either passed
or rejected, no action is contaminated
by the Senate leaders on the Presi.
dents proposal for assisting the
railroads through the war finance
corporation. A bin embracing the
railroad financing plan will probably
be introduced by Senator CImmins
Republican. of Iowa, chairman of the
Senate Interstate Commerce Commits
tee, upon his return from Atlantic
City, where i'll health forced him m
go recently. One may also originate
from Representative -yinslow Re.
publican, of Massachusetts. chairman
OF the House Interstate Commerce.
Committee.
While Republican leaders belive tho
agricultural legislative mix-up in the
senate will simmer down before the
weekend, they admit that the antjci.
pated fight over the Administra tion's
railroad plan, which Senator Cumnins
is credited with suggesting. will he q
bitter and probably a long drawn o,,t
one. vigorous opposition to n hy
senators like La Toilette, Republican
Oh wisconsin, is regarded as, ,nev'
liable. AAe''
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
Wholesale Produce
Market
Furnished by ridewater Lines. me,

Except for slight changes on this
poultry market prices remain steady
with demand firm.
Quotations are as follows:
EGGs-strictiy fresh, ssGS7c; average,
sac.
PoULTRr-Aiiyei BOOSTERS. lsoIsc per
10. turkeys, 3S4s5c per ID. chickens,
3t8ssc: per ID; hens, 2sc per ID; keais.
young. 6od7sc each. Dressed; Fresh killed
spring chickens, s6GSsc per ID; hens Aso
per ID; ROSTERS, 2i9 2ae per h.; turkeys.
80 o 400 per ID.
PoRK-Dre,sed: Small, lsc Dor III
medium, 1s014o per lb.i heavy, lo0iIs
per ID. '.'..
LrvEsTocK-csiyes, Choice, 100 p.r
lb,; lambs, choice. ioe1ie per ID.
virginias. No York Impsrials, s1oio;
Winesaps, best. IS; poorer, 1850, yellow
ssSeS Foo. 'e 'A'' poorer vi Ben Davis
BLACKBERRIEs-IS@ SOC per QUART.
ACKNOWLEDGEMENTS 3fa603.So per
CoRN-1oo AGO per crate.
CUCUMBERs-sI.60 cas- per tusb.,
LETTUCE-s1.5o@e. so per crate
ONIONS-Standard crates, Nos. 1 ana
Z, mixed, $500 400.
TOMATOES-Mississip Is and turning
ORANGBs-Caiifornia. st75@s.Sc.
EGGPLANTS-Per crate. sz.oo0soe
WHITE POTATOES - North Csronna
ana vir.iniss, Irish coblers. No /. per
NEUTRALITY-SUSPICIOUS. and Flor
iass 10 to 20 lbs. ao025c; 20 to 80 lbs,
LEMoNs-caiitornia, per box. $4,000
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
d. d X. G. Road Suit
Dismissed in Denver
EDITED BY
WILLIAM Nj. CONRAD

OF deep interest to Washington stockholders in the
Denver and Rio Grande railroad the action taken
day afternoon in Denver by Federal Judge Lewis in dis
missing without comment the suit charging collision and
fraud brought by Denver and Rio Grande stockholders
tecve committee against directors of the company and
others.
He has also denied the plaintiffs motion for file
an amended and supplemental petition.
The protective committee subsequently appealed to the
United States circuit court of appeals at ST. Louis right
nile amended and supplemental complaint and this appeal
has been granted by the court at st. Louis
The suit dismissed by Judge Lewis was the filed by
counsel for the protective committee last December and
which made general charges Of nterockng directorates
and which alleged conspiracy and fraud in with
That part OF the Denvers financial history surrounding the
companys default of bond interest on Western Pacific
bonds, which had been guaranteed.
lnasmuch the charges in this suit were only of gem
1t was expected that the protective committee
would he another complaint naming specific instances
OF alleged fraud, but this has not been done.
The committee has made as to whether
or not it intends yet to file entirely new complaint
Inc stockholders hope of saving the property now rests
WIN wha success might have in the of appeals
counsel for the protective committee has
ns IN tne last resort the Supreme Court of United
states will be referred to and the whole matter laid
before it. Oi "''ei iaio
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
General Asphalt.

w. HI note that General As
phalt closed at so. July 10. What
are the extreme points of quoted
values 80 far this year? Is this
common or preferred stock? Does 1t
carry voting privileges? What rate
of dividends was paid last year and
what amount was earned on the COM
mon stock? How can the stock be
bought? Do you recommend It?
Answer.-General Asphalt was incor.
porated in 1903 as successor to the
National Asphalt Company, which in
1901 went into receivership, as did also
Asphalt Company of America, con.
trolled by General Asphalt.
1t controls the Barber Asphalt Paw.
ing Company and four other companies
and owns the largest factory in the
world for refining asphalt, which is
located at Maurer, n. j.
Total shipments of asphalt by the
company In 1920 amounted to los, 1885
tons against 10000 tons in 1919: S5.05
share was earned on $19. 68S $50 stock
Of 500 par value. There is an issue
of 1854, 100 8 per cent cumulative pre-.
ferred stock on which dividends are
regularly paid. but no dividends have
ever been paid on the common stock.
The reason is obvious, as earnings
for the past ten years have averaged
less than per cent per annum. So
far this year the common stock has
ranged between 7S% and 40A.
Last year IT sold at 32ia low and 100
high, and the preferred ranged be.
tween 76 and 240.
General Asphalt is a highly specula.
tive stock, always keenly susceptible
to the state Of general business in the
country.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27

Capt. E. v. Rickenbacker, the
American "Ace," will be vice pres
ident and director of sales of the
new Rickenbacker Motor Com
parry, which has organized in De-
troit with a $5,000,0 900 authorized
capitalization.
The new car, which will be a
lightweight, medium priced type,
will, be produced in the Michigan
metropolis and named for Captain
Rickenbacker.
B. F. Everitt will be president
and general manager, and H. l..
Cunningham, secretary and treas
urer. Directors are Walter e.
Flanders, Carl Tichener, Roy
Hood and E. R. Evans.
Since the sale of the E. M. F.
Co. to Studebaker Everitt has
been building automobile bodies.
Flanders has been out of active
business since retiring from the
Maxwell Co. Cunningham, after
early service with W'nton and
Ford, has been associated with
Flanders. Hood. former purchas-
ing agent for Maxwell Chalmers,
will hold a similar position with
the new company. Tichener is
production expert.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
SPEC|ALT|ES GROUP.
SHOWS WEAKNESS
ON STOCK MARKET
Prices Undergo Sharp Decline.
Central Leather Drops 2
Points-SteeI Firm.

NEW YORK, July 27.-The stock
market opened generally strong and
fairly active this morning.
Mexican Petroleum advanced u to
105x; United States Steel rose Il 10
73%: Reading declined Y to 6Sla;
Cuban American Sugar advanced q
to II; American Wooden advanced Is
to TN; Studebaker declined a TO
7SA; Baldwin Locomotive declined
x to 1914: United States Rubber rose
Y to SAN; General Asphalt advanc-
ed q to Sly; Tobacco Products
rose Y to 69k; Crucible Steel ad-
vanced u to 56A; American Su-
matra Tobacco rose 4 to 81 and Un-
ion Pacific advanced VI to 1909.
The future of the market after the
opening was the development of
weakness in half a dozen specialties
the prices OF these stocks declining
sharply.
Famous Players. Sears Roebuck.
International Harvester and Pullman
Company were among the stocks that
were subjected to the selling move
ment and those issues declined from
! to over Q points. The market leaders
held firm.
Central Leather showed a belated
response TO the unfavorable statement
for the June quarter published yes
terday, the common stocks sustaining
a further loss of points, to 32H, and
the preferred dropped from 69h ID
g..
United States Steel, in which there
was continued large borrowing de-
mand, was firmly held and after re-
acting from 1871 TO 73h. moved up
again to 1914. Mexican PetroIeu nj
ranged from 1881 TO los. Railway
atnckn were in moderate sunnlY
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
$763, 900, 900 is DUE =
U. S. FROM RAILROADS.

Railroads owe the United States
Government 1888 100000 for improve
ments during wartime control, 1t was
brought out in a report President
Harding submitted to Congress with
his message. 1t is this amount which
Congress was asked to fund for ten
years. "A
A memorandum from Director Cen
eral Davis, of the Railroad Admlnis-
tration. attached to the Presidents
message. showed that out Of the 425
roads operated by the Government
during the war, 1S4 filed claims
against the United States amounting
to S75S, 032, 900. Forty.three per cent
of these claims have been settled
for s68. 141 900 in cash. as against
the total Of $225,5sS, 900 asked by
the carriers.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
ADVANCING
WASHINGTON'S INTERESTS
Henry Knows Nothing
OF Proposed Trust Co.

S. j. Henry, of the F. H. Smith Company, today made
nat denial that his company in interested IN
proposed 900 trust company about to be organized
and to be housed in the remodeed building of the Hotel
Bellevue at Fifteenth and streets northwest has been
reported. so $500
The published statement that the F. H. Smith Company
interested in the formation of trust company to be
located in the Bellevue Hotel property is emphaticaly
denied by S. ]. Henry, of the H. Smith Company runs
the statement issued by Mr.. Henry.
He states that they have not secured any New York
capital for such project and do not intend to take part
whatever in the formation of proposed financial
institution in Washington"
The Smith Company recently secured possession of the
hotel property in question and thought by that
they might be interested in the formation of the proposed
trust company which has been rumored here for
the past two months. ~
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
QUARTERLY EARNINGS OF
STEEL co. SHOW DEFICIT

NEW YORK, July 27.-The United
States Steel Corporation has de-
clareG the usual quarterly dividends
Of " per cent on the common
stocks and tx per cent on the pre-
ferred.
The corporation reports for the
quarter ending June 80, trading last,
with S32,2s6,722 in the preceding
three months. A deficit of S4,571 ,66s
is reported for the June quarter
after all deduction of dividends con.
trasted with a surplus of S2,Sl6,905
in the previous three months.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
SEASONS FIRST COTTON
SALE BRING CSC POUND

SAVANNAH, Ca, July 27.-The
first bale of cotton Of the season was
sold at public auction yesterday for
s8 cents a pound. The cotton was
raised by A. Il. Rogers. of Moultrie,
and was bought py Middleton and
Peterson, of Savannah.
The cotton was rated strictly low
middling green and gin cut. The
price of IS cents per pound is the
highest paid for a first bale of cot.
ton In ten years with the exception
of last year when the first bale
brought $l.Ss per pound,
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
August To Be Ford's Record
Month

H Month.
The Ford Motor Co. will break all
Production records in August, ac-
cording to schedule announced yes
terday by officials and received by
Washington agents. Next month
Ford's plants throughout the United
States will make a total Of 101,700
cars and trucks.
In addition, the Ford tractor
plants will produce 5,400 tractors,
and the Manchester, Eng, and Ca
madam plants will increase output
by about 600 daily, making Ford's
grand production total for the month
approximately 10000.
Postpone Federal Reserve Inquiry.
The Joint commission Of agricul-
ture. which has proposed an inquiry
into the charges Of John Shelton
Williams, former Comptroller of the
Currency, against the conduct and
operations of the Federal Reserve
Board, has postponed action until
August for the purpose Of securing
Some additional information it deems
necessary.
Joins Mexican Banking Committee.
Charles e. Mitchell, president Of
the National City Bank of New
York. was elected a member of the
American Section of the Interna-
tional Banking Committee on Mexico,
succeeding James A. Stillman, late
president Of the National City Bank.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
Lock Of Faith Slows the Rail
road Advance - Auton,o-
bile Ldyoffs-Pennsylua-
mia DiUidend Action.
The Advancing Railroads.

NEW YORK, July 27.--Of the many
reasons why the advance in the rail
road stocks is not as rapid as many
folks hoped the principal is lack of
faith.
Traders and the public for the past
-FOUR years have been educated TO
think of nothing but the industrials.
Now brokers are endeayorine to
turn attention to the rails-this, too,
after the latter have enjoyed a nice
advance. 1t Is not as simple nova.
Gays to convince the investing public
that the railroads can prosper while
the fndustrials anguish, as It was a
score OF years or so ago.
They realize more and more that
one Ia dependent upon the other. The
howls OF anguish and poverty raised
by railroad executives have also had
their effect, even though the tone is
changing as Indications become more
pronounced that the roads are again
TO have their own way in the matter
OF labor and other things.
There Is no doubt but what the
rails can and probably will be pushed
somewhat further. But there is also
no doubt that when they reach a
somewhat higher level many large
holders will be glad TO relinauish some
OF their stocks-and perhaps have
started already.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
Now York Cotton Market.

NEW YORK, July 27.-The cotton
market was quiet at the opening this
morning, but showed steadiness on
trade buying and first prices were one
to four points net higher. The south
ern products company condition fig
ure OF $50 represented decline OF
is for the month against the average
loss Of "a points. Later the market
was firm and about steady at three
points net higher
Opening cotton prices: October,
1903; December, 1913; January, 40:
March, 1911.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
Baltimore Grain Market.

wheat-Active; demand constant.
Receipts far in excess Of correspond
Ing time last year.
Corn--Steady. No. z yellow domes-
tic. SIC. Receipts light.
Oats-F1rm. No. 2 white domestic,
501a oslo. Receipts light.
Rye-Gocd demand. No. Q Western
export, SIPS.
Hay-Irregular. Some new hay ar.
irving in warm condition. Good tim
othy, per ton, 1922.
Flour-Steady.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
Chicago Grain Market.

CHICAGO. July 27.--wheat opened
u lower to u higher; corn, Y lower;
oats, Il to II lower: provisions. to
10 higher. Opening:
wheat-July, SHAY; September,
s1.23% "a; December, s1.2791.26N
.Corn-September, 81; December,
6o&.
oats-septembef, s9h9N; Decem.
Der, AZ.
Lard-september, s121o112.12: oc-
tober, Sl2.20912.22.
Ribs-October. S10.65.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
Two Roads Are Re-VaIued.

The Interstate Commerce Com
mission today announced that It had
fixed the following tentative yalua-
ton on two railroad properties: st.
Johnsbury and Lake Champlain,
operating in Vermont, $2,92l.120;
Thornton and Alexandria, operating
in Arkansas S243,542.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
The Automobile Outlook

|. Tho first unfavorable automobile
news comes in the form Of the an.
nouncement OF lay-off by the
Willys-Overland Company.
Selling that Immediately develop
ed In the motor stocks was on the
theory that this Is only the first
company to take such action.
According to all reports, the Stude-
baker business Is still holding at
tho peak, but II is felt that some
time later It, too. will feel part of
the ultimate effect. That the ex-
listing demand may fall off as the
colder months draw nigh is quite
probable. Some of the Studebaker
stock purchased around 10. it is
understood, has been liquidated. and
quite substantial short interest
has been built up.
uonally favorable earnings on Sat.
urday. and IL they so desired. the IN
siders could give the shorts a try
ing time for a while longer.
AS demand falls off. however, the
other companies can be trusted 10
give tudebaker a sterner fight for
business, so that 1t would appear
that the readjustment is not yet
completed In this group.
Copper Before Steel.
The saying that now goes the
rounds is that the copper industry
will revive before steel.
On this basis those who know the
copper industry don't see much light
for the steels for a long time.
Pennsylvania Dividend.
Directors Of the, Pennsylvania
Railroad are expected to meet to-
day for dividend action.
They will undoubtedly declare 1
per cent, the same as In the pre-
yious quarter, when the rate was
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
Liberty Bonds.
Vermont Central Asks $4,000.

The Central OF Vermont Railroad
today asked the Interstate Commerce
Commission for Government loan
Of SIS 900 for five wear, for the pur.
pNse OF retiring equipment notes.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
New York Clearing House,

NEW YORK, July 27.-Clearing
house statement: Exchanges, $546,-
700. 600. balance, 5l.70o. 900; Federal
Reserve Bank credit balance, $45.-
00o, 900.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
assBBss urrn B BUSINESS AND FINANCE
Local Stock Market
- ~ BALES.

After call
Potomac Electric general NJ &c.
S6oo0s5A.
Washington Gas TVS. S5oo11oaA.
Money--Call loans. 6h to per
cent.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
A Matter OF Policy.

Figures don't lie 1t is true. but on
ures.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
In VeStOrS'
Service

The Washington Times will be
glad to answer for its readers
inquiries about investments in
stocks and bonds. II will give
tho best available information
from the most authoritative
sources. This service is entirely
without charge, and all letters
will be held in strictest conf
dence. Every inquiry must con-
tain name and address OF the
writer and a 2-cent stamp for
the reply. II the inquiry is of
general interest II will be an
swered In the Daily or Sunday
Times. Address
INVESTORS INFORMATION
SERVICE
Tho Washington Times Finan-
cial Department. Munsey Build
Ing. Washington. ID. c.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
The Curb Market.

FURNISHED by w. r. Hibbs q csD
Prices Mt mon.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
Public Utility Stocks

Faint whisperings Of preparations
for rally in the public utility
stocks in the course Of a few months
are heard
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-27
Wall Street GOSSIP

reduced from IA per cent. Many
brokers' who are inclined to look
with doubt on the present stage Of
the move in the railroads. are ia.
Vorably inclined toward Pennsyl.
vania, as they feel that it at least
has seen it's lowest level.
All the benefits so much talked Of
as being in store for the rails will
accrue TO Pennsylvania, and, in ad-
dltion, Its management can be trust
ed to adopt conservative policy
at all times.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-12-09
BANKERS MEET HERE
War Finance Corporation Repre-
scntativcs 10 Explain Farmer RE-
lief Through Federal Loans.

Bankers from all over the easfern
part OF this state Will meet in Tulsa
Friday to learn from tho six okla
homa representatives OF the War
Finance corporation how tho funds
OF the war Finance corporation may
be loaned TO farmers and others.
and other workings of the corpora
tlon. The session will be In the
form OF an institute, or school. whore
the bankers will be instructed upon
what ground funds may he loaned
and in what manner application for
loans may be obtained.
The bankers. expected 60 number
over 100, will go into session in the
Municipal auditorium at 10 o'clock
Friday morning. whether the bust
ness meeting Will constitute the only
number on the days program could
not he ascertained yesterday. az II.
J.. Brewer, tho Tulsa member OF
the Oklahoma board. was out of tho
city. Fellow members OF this board
are p. A. Janeway. John w. Teetcr
Prentice Prince. Il. y. Martin. jr,
and Sam l.. Morley They are from
different points throughout the
state.
The first infaliment of okla
homa's apportionment. f25,0O0,OO0
was received recently and the re-
mainder will he forthcoming in reg
ulsr installments and az Il IN needed.
During the war the War Finance
corporation operated principally In
extending foreign loans and since
has been reorganised TO assist. farm
ers in time of depression. Funda OF
the corporation are derived from
loans by banks al over the country
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-12-09
sHouoUETTE PRELIMINARY

Eddie Shouquette. convicted bank
robber and VIII West, both accused
OF auto theft faced Justice $. II.
Hallmau Mt their preliminary hear.
ing Thursday. The two alleged
thieves had been informed against
before Justice ] y. Thompson, but
requested a change OF venue The
case against West was dismissed at
the request OF tho county attorney
West was immediately rc-arrestcd
by Oklahoma City officers. lie was
taken TO the state capital to face
charges of robbery. Shouquette's
counsel interposed demurrer after
the state had rested. which Justice
Hallman promptly over ruled, The
defense then rested without intro
ducing testimony. The magistrate
took the case under aGvisement
until Friday afternoon,
Shouquette and West were ar
rested three weeks ago In Oklahoma
City, suspected OF being implicated
In the Tyron, Kan, bank robbery
when a car in their possession was
identified as the nna which was
stolen from George Dullett Of Tulsa
several months ago the pair was
brought here. Shoudue,te was con.
victed last spring In district court
and sentenced to i5 years In the
penitentiary. Pending an appeal M
was released under $4,000 super
sedeas bond. but upon his arrest foi
auto theft, his bondsmen withdrew