davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1921-06-18
TIMELYWALL STREET TOPICS

NEW YORK, June l7.-Losses In
today's stock market might have
been as pronounced as those of yes
terday II II had not been for a rail-
ly in the last hour. due partly to
covering by shorts and partly to
the accumulation of stocks at RE-
duced prices suggested by commits
sion house letter writers before the
market opened. Before covering.
however. the shorts were sable to
add materially to the appearance Of
generalization. They drove down
some OF the standard industrials
from to. points. heayiness being
most pronounced in Baldwin. Amer
lean Locomotive. American Car and
Foundry. Sears Roebuck. Chesa-
peake and Ohio and Corn Products.
steel common was lower than at
any time since 1915. All these
stocks shared in the late recovery.
The reason for the active demand
for Louisville and Nashville rail-
way stock, eliminating In tine at
tainment of a price OF 11sh yes
terday became, known long after
market operators had left the street
The company Is asking Its stock
holders to approve an increase Of
about 75h per cent In the stock
The Washington herald., 1921-06-18
CONFERENCE CALLED TO
PROBE FARM SITUATION
Committee Meets College Men Today to Dis
cuss Economies and Possible Changes.

meetings during the past month and
has reached the point in its de-
liberations where it's members de-
sire the counsel of other men who
have been studying the same prob
lem. Members of the committee are
DIR. z. d. Ball, Assistant Secretary
of Agriculture, who is chairman;
DR.. H. C. Taylor, chief of the Once
of Farm Management and Farm
Economics; DIR. W. A. Taylor. chief
DR.. j. r. Mohler, chief of the Blu
reau of Animal Industry, and Leor
Estabrook, associate chief of the
Bureau of Markets.
The group of college men who
have been called to Washington to
counsel with this committee on the
plans which they have had under
consideration consists of Andrew
Boss, professor of farm manage.
ment, University Of Minnesota: q
F. Warren. professor of farm man.
agement, Cornell University; G.
Christie, director of the Indiana ex-
pertinent station. Purdue Univer-
sity; Dean Thomas Cooper, director
of experiment station, University OF
Kentccky, and DR.. Thomas F. Hunt,
dean of the college of agriculture
University of California.
= mo announcement has yet been
made of the plans OF the commit
tee" says DIR. Ball, "and they will
not be formulated nor finally ap-
proved until the committee has had
the benefit of the judgment and
advice of the larger COMMITTEES
which meets today"
The Washington herald., 1921-06-18
HIGHER. RANGE IS
REACHED BY GRAIN
Traders Cover Freely After
Going Short Overnight-Of-
. ferings Continue Light. ,

CHICAGO. June l7.-Grain prices
ranged higher, local traders gener-
ally being short overnight, and
started to cover freely and found
offerings light. Wheat moved up
ska5 cents over yesterdays finish
before the advance was checked. On
the advance there was seliing oy
the same houses that were on tnat
side yesterday. and a good reaction
followed, but prices failed TO ger
as low as yesterdays hnish- The
July-September spread narrowed 10
around s cents at one time against
10 cents at the extreme recently
hut IL yidened out somewhat later.
Export demand was reported az the
seaboard with claims Of 10000
bushels being worked via the Gulf.
Premiums on spot were firm. Crop
reports from South Dakota were
about the same as Of late, but there
have been no reports of actual dam
age of rust received so far, as the
crop and the rust is not sufficiently
developed. Dry and hot weather
prevailed over the greater part OF
the wheat territory with maximums
of 90 to sS, and the forecast was for
continued hot. Disappointing thresh-
ing returns are being received from
Missouri.
Corn and oats averaged higher. al
though the best prices were not
maintained. The markets have
been showing strong under
tone considering the reactionary
tendency in wheat and the ex-
cellent growing weather for corn
Hot weather led to fears OF
some deterioration in the oats crop
which is rapidly approaching tins
critical stage of its development,
over part of the belt, and rains and
cooler weather would be beneficial
Country offerings Of corn were
somewhat larger on the advance
Trade In provisions was very light
with prices somewhat higher thar
yesterdays finish. Hogs were strons
TO 10 cents higher. with bulk oi
sales at 7.eoaslo: receipts. $1,000
with 1000 for tomorrow. Westerr
run, $500 against. $500 weet
ago. and $4,000 last year. None,
easy. call Z. time 7a7is. Exchangs
The Washington herald., 1921-06-18
CURB MAINTAINS
STEADY TENDENCY
Trading But Slightly Affected
BY Disastrous Movements
On Stock Exchange.

NEW YORK. June 1.-THE mar
ket on the Broad street curb main
tanned a steady tone in nearly all
the important issues, trading there
being only slightly affected by the
disastrous movements on the New
York Stock Exchange which were
so effective in causing liquidation
of Stock Exchange accounts. In
some cases this liquidation natu-
rally included issues that are trad
ed in on the curb, and the supply
from this source caused some de-
clines, especially in stocks that had
been closely held and had only mar
row market in other times. Glen
Alden Coal was one of the promi-
nent features, being in good demand
and moving up from SIX to ~, but
reacted from its high price in the
afternoon trading. There was also
a good demand for Southern Coal
and Iron, in which there were mod
crate sales at 3. There was a little
supply of Acme Packers, partly be-
cause of disappointment over the
course of exchange at Washington
Acme Coal was comparatively heavy,
selling with a small amount OF
business at SM.
The netroler-, stocks were gen.
orally in fair demand. although Some
issues were Influenced by the ef-
fects of Stock Exchange liquidation,
among them being Standard Oil OF
Indiana. which ranged from SAY to
san. There was small amount
of business in Anglo american AZ
1914. Cities Service issues serr,~S
to be established at a new Level
reached on the reilly following on
the break en- Monday, bankers Ger.
tiicates selling at 14x and the pre-
ferred stock at 49,. TIE common
stock was traded in at 100 and 11s.
Simms Petroleum was steady, with
ssJes at 7% to ~
Mining stocks continued active
but with irregular movements. Bos-
tom and Montana was one Of the
nrominent features. accumulation OF
that stock being in response "a
rarid progress toward the connie.
tion Of the large .concentrator which
Nas,s capacity - ! .5ao tons . Spv
Operation Of this concentrator Il
expected before the end Of another
month.
The Washington herald., 1921-06-18
BALTIMORE PRODUCE.

BALTIMORE, June 17.-Creamery,
fancy, s3a34c; choice. 3ea33c; good,
sOa31c; prints. s3as5c; blocks, saa
SAC: ladle. 1sa21c: Maryland and
Pennsylvania rolls, 1sa2oc; Ohio
rolls. 1sa2oc: West Virginia rolls,
1sa1sc; store packed. 1sc; Mary
land, Virginia, and Pennsylvania
dairy prints, 1sa2oc; process butter.
23az5c.
Eggs-western Maryland, Penn
sylvania and nearby nrsts, CSC;
Eastern Shore Maryland and vir-
sinia frsts, CSC; Western. CSC: West
Virginia firsts. 25a2sc: Southern
frsts. 25c.
Live Poultry-Chickens old hens,
lbs and over. 2sa3oc; small to me-
dunn. 27a2sc: ROSTERS, 1sa17c; white
Leshorns. 27a2sc: springers. III lbs
and over, Soc; IA a1h lbs. f5a4se:
1a1k lbs. 4oa42c; white. Leghorns,
IL lbs and over. sc; smaller, asa
toc: young winters. 3 lbs and over,
toaf5c. Ducks. young, white Pc
Rims. lbs and over, 27a2sc; puddle,
2sa27c; Muscovy, ate; smaller, asa
Csc: spring ducks. s5a3sc. Pigeons,
young. pair, 3saioc; old. ssa4oc.
The Washington herald., 1921-06-18
NEW WORLDEXPANSION
NCONDENSED MILK TRADE
United States Gains Largely in Exports and
Develops New Markets.
,By The w..Ai.ste. Her.is'. Eeo.o.eI.,,

Condensed and evaporated milk
has become q commodity Of great
Importance In the world trade as a
result of the war. Some of the
growth has been in regions not pre-
vfously large consumers of such
products. The war also opened the
European market for United states
milk products as never before ex-
listed. this being In contrast to the
decrease in world trade in butter
and cheese.
AS shown In . comprehensive
survey just made by the U. s. bu-
reau of markets, department OF
agriculture, the growth of the con-,
densed milk industry in the United
States coincident with the increase
in world consumption developed an
enormous industry by the end of
the war. but also a surplus which
brought about radical readjustment
on the condensed milk industry of
the world. While both supply and
demand in Europe are recovering
their normal balance. the outstand-
ing feature Is the new demand in
the far east and tropical regions.
Europe was practically self-sus-
tanning in 1913. importing only d.
100000 pounds and exporting 1885,
100000 pounds. By 1919, however.
the exporting countries of Europe
furnished only 47.ooo,00O pounds for
export, or less than 10 per cent of
their total imports for consumption
that year. Great Britain imported
three times as much in 1919 as in
1913 from the United States alone.
On the other hand, Switzerland.
which-Shad been the leader in the
production of what was sometimes
called Swiss milk" production fell
of and exports decreased.
The demand from the tropics and
far east was not the big factor in
the expansion of world trade dur
ing the war period, but is now i'm
portant because 1t. offers a more
permanent market for the American
product. Australia was the only
surplus producing far east country
in 1918 and has increased its pro-
duction since. New Zealand had an
exportable surplus of about a mil
lion pounds. No condensers of i'm
portance have yet been developed In
Argentina, and this country still
remains an Important lmportcr'
though the amount received has de-
creased as the dairy industry has
developed. The export surplus of
Canada increased six times from
1918 to 1919. keeping pace with the
increase in world trade
The United States export surplus.
which was about 100000 pounds
in 1913. expanded to the enormous
total of s3s.ooe.o 900 pounds in 1919.
the growth being equivalent to
about 2.o00, 900. 900 pounds of whole
milk. The imports of the United
States of condensed milk have never
been important, amounting to less
than 2 per cent Of domestic produc-
ton.
The various relief organizations
were a factor in promoting the dis
tribution Of condensed milk from
WORLD TRADE IN coNDENs
1918 an
The Washington herald., 1921-06-18
CARLINES To GET
One CHANCE
TO MERGE SELVES
House and Senate Get
Ball Bill to Clear Away
Obstacles.
QUICK ACTION SEEN
Focht Says District Commit.
tee United in Decision to
Solve Problem.
CONTINUED FROM PAGE ONE.


companies within the District fell
on nearly fourteen million as com
pared with the previous year. a de-
crease OF more than per cent.
Traffc is still decreasing. and we
can reasonably expect such decrease
to continue, especially in view of
the reduction in government en-
ployes scheduled to take place on
or before the first of next month
AS to the question of separate
fares on the two railway systems,
the commission has constantly
maintained the policy OF a uniform
rate of fare on all street railway
lines within the District Of Column
bia II is needless for US to refer
TO this, but we feel that possibly
the attached memorandum may be
helpful to the commission, showing
brief excerpts relating to this mat
ter from the orders of the commits
sion dated October IS, 1918; May
%. 1919: October Is. 1919: April Is,
1920; December 30. 1920. and March
IS, 1921.
Further. the effect of separate
fares on the street railway systems
would be to create a zone system
and impose higher fares on the
suburban lines, the system advo-
Gated by this company as a measure
Of relief, against which there was
unanimity of opposition on the part
of the citizens associations. who
demanded that the same rate OF
fare be maintained on all railways
throughout the District"
The present fare order expires on
September l. according to Ham. and
his objection Is based on this point.
As to separate fares. Ham argued
that this would be disastrous to the
suburban residents, as they would
De Obliged to pay a larger fare
than those patrons who lived in the
city. 1t would. he commended. be in
enect the establishment of the zone
system.
Separate Fare Urged.
The demand for a separate fare
for the Capital Traction lines has
recently been made by the Fedora
tfon OF Citizens Associations, and
numerous Representatives have ad-
vocated a fare for the Capital Trac-
ton Company based upon the re-
ports of that corporation.
The bill introduced by Represent
tive Hammer. Of North Carolina, of
the House District Committee, call
ed for the repeal of the act Great
ing the present Public Utilities
Commission. This has been con-
strued as an effort to re-estabIish
arbitrarily the scent fare. Ham
mer. however, has repeatedly point
ed out that he is not averse to the
creation of a separate utilities COM
mission with the powers usually
vested in such a body. The details
Of what he has in mind concerning
the new body Hammer has not yet
made public.
The Washington herald., 1921-06-18
FEDERAL RAILROAD
ANDSHIP VENTURES
TOCOST BILLIONS
Plans to Wipe War Losses
From Books and Start
Afresh.
HAS 1900 SHIPS LEFT
Certain to Lose Nearly ST.
600, 900 for Sea Trans II
port. :

The governments venture N
transporta tion-land and sea-wii
..u . ,ot.i loss Of nearly IS, Ooo.-
VVo'ooo' II 10
The new shipping board IN CON
ference with President Harding
.s ,ns,rvc,ed 70 charge
80.
OH as ioes INC
which have been carried on the
hooks and start afresh with its as
.s On d.ar,,. buxi-
se''
ness OASIS ms means 'ha'
ably s2.500.000,00e invested In ships
mus, be regarded as a pure war
exnendi,ure ON which mo recovery
Ian he expected.
~. ,oo s.,
The Shipping Board and i.s SUI
sidiary organization inc Ems' seneS
Fleet Corporation represent y com
bined investment OF -approAiiha'e'
$3.50, 100000. hSur'ng the sppro-
priations OF congress- lIom .
tne snipo.iue -. 80 ~ coy.
eminent possesses some 1900 ves-
sells 81 nearly II. 900. 900 deadweight
tons OF uncertain value. 1t is tg-
ured sac of these vessels will net
less than $1,000, coo. 900: one au-
tboritatiye estimate was for y7bU,-
900 600. II the latter figure were
correct the loss would be $4,000, 900.
400 but other assets of the board
may scale this down TO a limited
EXTENT.
The total loss to the government
as a result Of railroad operation .,
mounting as settlements with the
roads are made and other claims
are adjusted. Information put be-
fore the Senate Interstate Com
merce Committee indicates that the
final cost from all sources will ag.
crega'e between $4,000. o00.0ao and
81, SOC, ZOO, 900. The accurate total
will not be available for years. for
settlements have been made with
only about nifty of more than soc
principal railroads and literally
thousands Of cases involving the
government are pending or will be
filed in courts.
s. Io..~.
The Washington herald., 1921-06-18
EARLY STRENGTH
FAILS TO HOLD
Discouraging Foreign Strike
Cables Forces Continuance
OF Cotton Decline.

NEW YORK, June 17.-There was
a firm opening Of the market this
morning on definite cables from Liv-
erpool that the British cotton mill
strike practically in effect through
out most Of the Lancashire and the
Manchester districts since June 4
had been settled at this morning.
further conferences. The Liverpool
market. which should have sustain
ed a decline OF % English points
to have met our net decline of 80
to As points OF yesterday, opened
only IL to "A points lower. These
auNIees had steadying influence
here, after yesterday Liquidation
IN which the safes Tor Western ac-
counts and some OF the local and
Wall street buns vi the past two
months we're estimated as high az
lUO,UVV bales.
Prices started firm and advanced
about to 10 points, with July at
life, October 12.56c. December
l3.O5c and January l3l5. When
later cables commenced to come In
lower and private advices followed
explaining that the coal miners ref
erendum vote completed this morn
ing had resulted In continuance OF
the strike which had been in effect
since April l, liquidation was re-
sumed on a heavy scale. 1t was OF
a general character, and trading
was active from its weakening ef-
teets on the market. 1t was accel-
Grated by closing Liverpool cables
being of a weak tone, with the last
prices there 80 to 81 English points
below their final prices OF yesterday
and by reports of some scattered
beneficial showers overnight In
parts of Georgia and the Carolinas
While they did not amount to much
in view of the drouthy conditions
over that section of the past ter
days, some traders thought more
precipitation will be shown in the
late detailed reports by States and.
as the New Orleans market broke
badly and there was a good deal of
Southern selling, the pressure here
continued against the market until
prices had gone off over 60 points
from yesterdays closing quotations
for July and between 60 and IS
points for the rest of the list, there
by bringing the whole contract list
down to new low levels for a long
time past.
On this break July went to lilo,
October 11.S6, December 1921 and
January to l21z cents. The slump
was checked by renewed support
from important trade interests COM
ing into the market at those levels
with one broker bidding ll.S5 for
10000 bales of October contracts.
Today's low prices are as points be-
low the previous low levels reached
for July on March 2 and 19 points
for October on the same date. This
sunport and profit-taking by shorts
rallied the market to 20 points maxi
mum from the low prices stated
above in the last hour.
The Washington herald., 1921-06-18

NEW YORK, June 17.-Continued
liquidation was the only feature of
the coffee market today, causing
declines of 6a1O points early in the
session. On the call a few lots of
July were sold at only l point loss;
being readily absorbed by trade
shorts, but subsequently there was
no aggressive support. Still, there
was a partial rally early in the af-
ternoOu.
The recent growth of bearish SEN
timent is based partly on the fact
that the quantity of Brazil coffee
afioat for the U. S. is now close to
100000 bags against about 100000
two weeks ago. In view of the
many claims that practically no bus
mess was being done in the local
cost-and freight market this in
crease is regarded as an indication
that the interior has been buying
quietly, SO that Brazil no longer has
such strong grip on the situation as
she would have IL our future re-
quirements were absolutely unpro-
vided for, (which many traders
seemed to fear was the case some
weeks ago. This indication of di-
rect business with the interior also
suggests that Brazil has been ac-
cepting bids below the nrm offers
quoted on Front street, the majority
of which had been prohibitively
high. Today's offers were without
noteworthy change, new crop bour-
bon As being offered from $50 to
9.75c.
Late yesterday special cable
quoted a new low rate for Rio ex-
change on London 9-16d.. or Nd
below the early quotation. This
morning the London rate was re-
ported unchanged, and the dollar
rate $50 reis higher. The Rio term
market closed unchanged t. 100 reis
lower. Santos closed 25a75 reis
above the levels reported late yes
terday, making net gains for the
day of 75a175 reis.
Spot markets are quiet. and easier
at ka61zc for Rio U.s., 6a6h for
Victoria Is SIS. and sasSc for San
- lie q
The Washington herald., 1921-06-18

A committee recently appointed
within the Department of Agricul-
ture by Secretary wallace to study
the present economic situation from
the Agricultural viewpoint will meet
here today with a group of men
from agricultural colleges. Plans
which the committee has had un-
der consideration for the relief OF
the present agricultural depression
will be considered. Possible changes
which might be made within the
Department Of Agriculture to en-
able IT to more efficiently serve the
farmers of the country will also
be discussed. >s*
The committee has held many
The Washington herald., 1921-06-18
Indicted In 1870.
Railroad Men Ballot
On Wage Board AIDard

SCRANTON. pa. June l7.-More
than 5000 shop employees Of the
Delaware. Lackswanna and Western
Railroad Company here are casting
strike ballots this week. Their votes
must be in headquarters by mid
night June IS.
The men are voting for the ae-
ceptance or rejection Of the wage
award. which means a reduction OF
about IL cents an hour for the great
majority. II is understood that SINH
lar ballots are being taken by shop
employees OF all other railroads
which operate under the national
agreement. Conferences between
representatives OF the federation OF
shop employees and company officials
relative to a new agreement which
will date from July /, were con-
tinued today.
The Washington herald., 1921-06-18
JUSTICE SIDDONS !;
OVERRULEPLEA !.
IN LEAK ACTION
Declares Supreme Court
Must Keep Right of :
Secrecy.
NOW WAITS JURY
Four Men Indicted Here for
Giving Information
On Stocks. 2

The welfare Of the nation de-
mands that the inviolsbility OF the
United States Supreme Court be
protected at all hazards.
Stock market spectators cannot
be permitted TO obtain advance In
formation on the courts decisions
by conspiring with court attaches
This was the decision Of Justics
siddons Of the District Of Columbia
Supreme Court In everything the
demurrer Of the four defendants in
the Supreme Court leak" case yes
terday.
Must Pace Jury.
The defendants, Ashton r. EN-
bry. former secretary to Associate
Justice McKenna Of the United
states Supreme Court; James Hsr-
wood Graves. a former attorney ems
ployed in the Department OF JUS
tice; L. Willard Mayer. a New York
stock broker. and Barnett e. Moses.
Washington lawyer. now must
face a jury on the governments
charge OF conspiracy to defrsud the
United States.
In their demurrer the defends nts
asserted that however reprehensi--
BILE their conduct. as set forth in
the bill of indictment. may be. Il
did not constitute a crime and there
was no legal redress.
Reply shows Horror.
In language which fairly burned
in the expression Of obvious judi
cial horror at the facts alleged.
Justice SIddons held that the con-
duct Of the defendants. as alleged
in the indictment. constitutes
conspiracy to defraud the United
states"
II the actions charged against
the defendants were proved ana
allowed to go unpublished. the JUS
tice declared. the situation arising
therefrom would be fraught with
great danger to the orderly course
of Justice"
Serious political consequence
and grave international complica-
tons might ensue. the justice
pointed out in his condemnation Of
the contention that Il is not a crime
to obtain and reveal Supreme Court
decisions in advance by tamPerins
with court attaches.
Indicted In 1890.
Embry and his associates were
indicted by the grand jury on
March 81. 1890. The evidence on
which the indictments were based
was developed by Mr.. Pew, after
weeks of cesseless investigation
of the defendants system. Justice
Siddons' decision sustains the in
dictment and leaves only the Ques-
ton Of fact TO be determined by
the jury.