davidaulloa/AmericanStories huggingface dataset:
Evening star., 1921-02-12
important ACTION
IN AID Of TRADE
Copper and Coffee Situation
Saved-Money Is Working
Easier-HoIiday Today.
BY l. A. FLEMING.

The process of readjustment in the
business world is slowly working out
the betterment Of the situation in the
United States.
Two very marked movements in the
interest of trade and commerce were
noted during the week, one of the
sale Of s40.o00,0O0 notes. secured by
400 900. 900 pounds of copper, which
at once removes the strain Of this
great incubus on the copper market
and gives time for the slow and
healthful marketing of the great
The second movement will help the
coffee trade between Colombia and
the port of New York. A syndicate
of bankers. composed Of the Equit-
able Trust Company, Chemical Ma
tional Bank. National Park Bank. the
Trust Company. the Bank Of New
York and the Commercial Bank of
Spanish America, has decided to
liouidate the debts of five great COZ
fee importing houses. engaged in the
Colombian coffee trade. matter OF
$5,000,000.
Marketing of Certificates.
Another movement OF Importance
during the week was the decision OF
the Secretary of the Treasury to
market 500. 100000 Treasury certih-
Gates at 51z per cent.
1t is a distinct recognition OF the
effect that money Is easier ana more
plentiful. SO that the government
may confidently expect a sale Of 5A
per cent certificates against 5A per
cent a month ago. and 6 per cent as
the maximum rate on government
borrowing last December.
One very positive evidence OF OF the the
eastr eantraction % Of s25s. s.os5. 900 in the
loans of New York city clearing
| house banks since the list Of January.
Considering the limited character
of the Wall street trading ana IN
vestment movement, and the rela-
| tivelv small amount of money going
| into real estate mortgages. WIN les
| sened merchants demands, money
| should steadily work easier. banKs
have more money than they really
there are some banks that have been
| SO generous in their loans that tneS
are extended somewhat IN tnls re-
| spect.
| Reserve banks should lower tneli
discount rates in the near future. The
deflation movement has gone far, and
| may have to go further. out II VIII
| not be aided by high rates on ols-
| counts, and the profits OF inc reserve
| banks are enormous.
| The Richmond federal reserve dis
| trict. including the banks OF this
city, is expected to cake $3.46O.00O o1
| the latest issue of certificates
VIII Protest Tax.
Local bankers. at the meeting of the
| association held last evening. decided
| to protest the assessment OF gross
| profits tax on the interest received
| from liberty bonds. After the filing
OF the protests, Frank j. Hogan. coun-
sci Of the association, will appear be-
| fore the assessors and argue the in.
| Justice Of the tax.
| In the event Of forced payment. suit
| will be brought in the District courts
to settle the proposition.
i Important Hearing Monday.
Tho Chicago. Burlington and Quincy
lRatlroad Company wtu have an i'm.
Evening star., 1921-02-12
TAXATION ISSUES
PROBLEM IN DEBATE
Replacement of Excess Prof
its Levy Is Decided No
Solution.

! Ih&t the replacement OF the excess
Profits tax with a tax on sales is not
the solution of the perplexing taxa
! tion problem that confronts the gov
ernment of the United States today
! was the decision two OF tho three
judges who passed on the question as
debated by teams representing the
PittsburG and New York chapters of
the American Institute of Banking at
the Willard Hotel last night
More than 500 employees of Wash
lngton banks. interminElcd with many
officers and directors Of their respec-
tive institutions listened attentively
TO the pro and con of the discussion. A.,
ably presented by the embryo finan-
ciers. and when. after ten minutes
consideration. the judgos-Charlcs NJ.
Bel. president of the American So
curity and Trust Company; Judge
Ashley NJ Gould and Dean William
Allen Wilbur Of George Washington
nivcrsity-decided in favor of the
New York representatives. who ar
sued IN the neEative. hearty applause
greeted both victors and vanuuished
Basis of Arguments.
The young Pittsburgh bankers based Z.
their arguments i'm favor Of the re.
placement from n standpoint of fair
ness ana equity to all tho people and
referred to The success of the pro-
posed method as tried in France. Cam
ada and the Philippine Islands
Granting the undcsirahiIity of tho
excess profits tax. the winners di-,
rected their attack against the sur-N
gested substitution on the grounds OF
its impracticahility. not only in the .
matter or collections, hut as a source
OF revenue; the uncertainty as TO the
determinat ion of cost OF collecting:.
dificulty of application: the oppor-r
tunity offered for endless claims of,
exemption: the unjus,n ness in simple
application and the past condemna-
tion of the proposal when tested at
the conclusion of the civil war.
Personnel OF Teams.
| The New York team was represent
| ed by J. V. ID. Stryker of the Fed
eral Reserve Bank of New York. w
l.. j. Conway OF the Guaranty Thurst
Company, and y. M. Mckernan. a for e
mer Washington boy. now with the
; Irving National Bank. Alternate,
Frank J. Heger of the Title Guaranty
and Trust Company.
The Pittsburgh debaters included
Lewis Konyathy of the Duquesne
Trust Company, Leo Griffith of Cas- :
satt & Co, and W. l.. Dunn of the
Bank of Pittsburgh. The alternate
was George Rankin. jr.. Of the Gen.,
| trail National Bank of Wilkinsburghs
Pa.
| utes for direct Srgument and FIVE
minutes for rebuttaL The timers
| were John NJ. Riordan and +. j. Stef-
| fens.
Annual Banquet March 20. =.
| Charles d. Boyer, president of the'
local chapter of the association, pre-"
sided and at the conclusion of the
debate announced that the seven
iteenth annual dinner of the chapter
would be held at the New Willard
| Hotel on the evening of March 26.
Rev. James F. freeman, rector of
Epiphany Church, will be the prin-
cipal speaker.
| Applicants for tickets to the ban
quet We're requested to communicate
with Messrs. Doolin. Boyer, Deyber.'
McQuade and Towson.
Evening star., 1921-02-12
DAIRY MARKET.

BALTIMORE-Arriv by boat
Poultry-Young chickens, live, per lb-
3Oa38: dressed. isaac; old. live. 33a34;
dressed. 34a35; old roosters. live. %;
Ducks-Per Ib., live. 3oa4o: dressed
3sa42 Geese. live, 25a33: dressed. 3Oa
35. Turkeys, live, 40a55: dressed, 4Oa
46. Pigeons, per pair. 45a50. Guinea
fowls, each. 4Oa75. Capons. dressed.
EGGS Goss on)-strictly fresh near
by. doz.. IS; southern. "a: duck eggs,
55.
Butter-Creamery fancy. per lb., 46a
At; prints. 47a4S; nearby. 43a44; dairy
prints. 20a24; rolls. per h.. 20a24;
ladies'. 2sa3O; process butter. 33a35;
store packed, 20.
No grain quotations - chamber OF
commerce closed-legal holiday.
CHICAGO. February 12.-Butter-
Higher: creamery, extras. A; stand
ards, 43k.
Eggs-Higher; receipts. 1o.447 cases:
firsts, 37a3714; ordinary firsts. 33a34;
at mark. cases included. 35a36.
Poultry, alive-Lower: fowls. 80;
springs, 80.
Evening star., 1921-02-12

I'VE. when mounting the stage of
existence. found ourselves the legal
inheritors of these fundamental bless
ings. We toiled not in the acquire
ment or establishment of them; they
are a legacy bequeathed to us by
once a hardy. brave and patriotic
but now lamented and departed. race
of our ancestors. Theirs was the
task (and nobly they performed it
to possess themselves. and through
themselves US. Of this goodly land.
and to uprear upon it's hills and it's
valleys a political edifice of liberty
and equal rights; tits ours only to
transmit these-the former unpro-
famed by the foot of an invader, the
latter undecayed by the lapse of time
and untorn by usurpation-to the lat
est generation that fate shall permit
the world to know. This task
gratitude to our fathers. justice to
ourselves. duty to posterity and love
for our species in general. all iInper-
atively require US faithfully to per-
form.
How. then. shall we perform it.?
AT what point shall we expect the
Evening star., 1921-02-12

approach of danger? BY what means
shall we fortify against it? Shall
we expect some transatlantic military
giant to step the ocean and crush us
at blow? Never!
"An the armies Of Europe, Asia
and Africa combined, with all the
treasure of the earth (Our own ex-
cepted) i'm their military chest, with n
B0naparte for u commander. could not
BY force take n drink from the Ohio
or make n track on the Blue Ridge
in trial of q thousand years.
eat what point II the approach of
danger to be expecteds Il answer.
II IT ever reaches us 1t must spring
up amongst us, 1t cannot come from
abroad. If destruction be our lot we
must ourselves be it's author and nm
Usher. As n nation of free men we
must live through all time, or die by
suicide"
After giving some examples Of the
evil effects upon the innocent as well
as the guilty. which occurred in the
operation of mob violences. Mr.. Lin
Evening star., 1921-02-12
BY STUART p. WEST.

NEW YORK, February 12-All that
the view that the country is passing
through the familiar resting spell
which follows a violent upheaval like
that of last autumn. Business con-
ditions are variable; in some lines like
woolen and cotton goods a decided
recovery is uder way: in other lines.
notably iron and steel. prices still are
falling and production, along with
new orders. is on the decline. This
unevenness. however, is quite normal
under circumstances like the present
and has been forecast very gen.
orally ever since the first of the year.
The earliest date which has even been
set for new forward movement to
begin Is some time in the spring.
Aieantime, readjustment, while it has
been completed in most quarters, has
not been finished in all.
The Wall street market. rejecting
the trade position outside. is also in a
waiting mood. Trading has sunk to
a minimum and prices have been
swinging back and forth in an ex-
tremely narrow range. 1t is precise
ly the sort of market which was wit
messed in the early part Of 1904, fol-
lowing the so-called 'rich mems
panic" and more or less acute trade
Likewise it is very much like the
market which we had for a few
months following the crisis Of 1907.
Not Very Responsive.
1t is a market which is not respon-
sive to developments. either favor
able or adverse. Still it is Of more
consequence that bad news has ceased
to count than that good news has not
yet begun to count. The performance
cutting Of crude oil prices all the way
from rs to SO per cent has certainly
been remarkable. At no time during
this price-cutting campaign have
these stocks been weak, and they
even had, during the recent trading.
their moments Of very decided
strength.
The same is true of the steels. Open
war has been declared between the
independents and the Steel Corpora
ton. Some of the former companies
have reduced prices sharply in an ef-
fort to stimulate business. It is GER
tain that they can make no money
and will probably lose at these price
levels. Yet the steel stocks gained
ground on the week.
FOREIGN Exchange.
Renewal of the recovery in the for
eign exchanges may be set down first
of all to the improvement in interna-
tional trade from the standpoint of
most of these countries. Following
the estimate Of a $1,000, 100000 credit
for Great Britain last year, taking
the invisible as we'll as the visible
items into account, the January fig
ures showed British exports and i'm
ports even closer together than for
any month of 1920.
ri
in exchange rates is a reflection of
confidence in the settlement of the
German reparations question, and
still again it is Influenced by the pros
pect of easier money on this side.
ing connection between the recovery
in sterling. francs and lire and the
plans under way for financing the
American export trade.
The $4,000 900 note. Issue -by-.<he
Evening star., 1921-02-12

to the support Of the Declaration Of
Independence. and SO to the support
of the Constitution and laws, let
every American pledge his life. his
property and his sacred honor-let
every man remember that to violate
the law is to trample on the blood
of his father. and to tear the char
ter of his own and children's liberty.
"Let reverence for the laws be
breathed by every American mother
to the lispinE babe that prnttIes ON
her lap; let it be taught in schools,
in semfnaries and in colleges: let it
be written in primers. In spelling
books and I'm almanacs; let 1T be
preached from the pulpit, proclaimed
in Legislative halls, and enforced in
courts of Justice, And. I'm short, let
1t become the political religion of the
nation; and let the old and the young,
the rich and the poor, the Erave'and the
gay of all sexes and tongues and coll
affairs.
Evening star., 1921-02-12
PETITION IN BANKRUPTCY

NEW YORK. February 12.--An in
voluntary petition in bankruptcy was
filed in the federal court today by
creditors of Christopher Hannevig in
|dividually and as president on Hanne-
Wig & Co.. banking firm, which also
dealt in foreign exchange and ship
building.
The petition stated that the liabili-
ties of Hannevig and his company
were moro than $S.000.000 win free"
assets of 100000. Counsel for the
firm said the financial embarrassing Mt
Of Hannevig and the company was
due to delay in collecting just COM
pensation from the United States
Shipping Board for vessels construct
ed during the war Judge Knox ap-
pointed Henry A. Wise and Thomas z.
flanagan temporary receivers.
Evening star., 1921-02-12

Stock Of Pay
record. able
Atlantic Refining Co.. q, IS. Feb. 81 Mar. Ii
General Electric Co., q, 81. Mar. o Apr. Is
Peerless Motor & Truck Corp,
q, SOC c..................M Mar Mar, 81
Peerless Motor T. Truck Corp
q. 50c ....................J June 1 June 80
Peerless Motor 4 Truck Corp,
q. Soc ....................Se Sept I Sept. 80
Peerless Motor & Truck Corp.,
q. 5Oc ....................D Dec. 1 Dec. 81
Philadelphia, Germantown and
Morristown. q. $1.60..-.-..Feb. 10 Mar. 4
6coville Mig. Co, S.. ...... Mar. "a Apr. !
Evening star., 1921-02-12
BILL FOR GREAT LAKES.

The House bill extending the pro-
visions of the seamen's act SO that
the passenger service season on the
great lakes may open May 1, instead
Of May Is, and continue until Octo-
ber Is, instead of September Is, was
favorably reported today by the Sem
ate commerce committee
Evening star., 1921-02-12
FRENCH BOURsE QUIET.

PARIS, February 12.-Trading was
quiet on the bourse today Three per
cent rentes, SO francs. Exchange on
London. So francs 6S centimes. Five
per L. Mt loan, SO francs 95 centimes.
The doIIar was quoted at 13 francs
ISL. centimes.
Evening star., 1921-02-12

Tho rate Of growth Of mahogany is
shown in southern Nigeria, where the
site Of a town destroyed sixty years
ago has been covered with a forest
containing mahogany trees, some of
which ara maga than. ten feet in
Evening star., 1921-02-12
One Hundred and Twelve Years Ago Today
ON Abraham Lincoln Was Born

andA nacG h( ( HtD in
d oretke khomh k
rlf tad
Evening star., 1921-02-12
N. RESERVES GROW

'They (the revolutionary fathers)
Evening star., 1921-02-12
DIVIDENDS DECLARED.

Copyright, 1921. J
Evening star., 1921-02-12

Tho Chicago. Burlington and Quincy
Ratlroad Company wtn have an Inn
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-20
PENSACOLA TRAFFIC AND FOREIGN
TRADE CLUB FORMALLY ORGANIZED
Among the Matters Be Taken Up Are the Study Workings
of the Systems of Transportation in Effort Obtain
a Fair and Equitable Freight Rate.

The Pensacola Traffic and Foreign
Trade club was organized yesterday
afternoon in the auditorium of the
chamber of commerce, with a CHATTER
membership Of thirty, officers and ea-
ecutive board being Roscoe Wel1es,
president; j. B. Morrow, vice-presi-
dent; p. w. Reed, secretary treasurer;
directors, f. F. Bingham, representing
the lumber interests; w. G. Yonge,
coal and shipping; j. II. Sheriff., oil;
Max L. Bear, wholesalers: A. L. Rein
schmidt, manufacturers Pieter Altink,
exporters.
on the afternoon of Thursday, De-
cember 22nd, the organization viii have
the pleasure of entertaining the Hon.
Axel Oxholm, chief OF the lumber di-
vision of the department. of commerce,
who will be in the city on that day.
Mr.. Oxholm comes to Pensacola on an
official visit and will make a talk be-
fore the newly organized club, which
every member is asked to attend.
Organization Meeting.
The meeting yesterday followed a
tentative meeting which was held on
the afternoon of December 4th, at
which constitution and bylaws were
drawn up and tentative plans made
for putting over what is believed to
be one of the biggest movements ever
started in Pensacola.
The object of the organization, which
is affiliated with the industrial COM
mission of the chamber of commerce,
is to put into effect the objects of the
chamber of commerce and the indus
trial commission insofar as it applies
to matters of transportation and for
eign trade.
Among the matters to be taken up
are the study of the workings of the
great systems of transportation, inso-
far as they injuriously affect the in
terests Of Pensacola; to obtain fair
and equitable freight, passenger and
express rates to and from Pensacola,
and to prevent, If possible, liscrimi-
nation against Pensacola; to secure the
abatement OF vexation and unjust
charges, and to assist in securing
prompt settlement of claims for dam
ages ana demurrage; to secure fair
and equitable trea- nent in matter of
terminal charges; to secure additional
ocean shipping lines for Pensacola, and
to secure fair and equitable ocean
rates; to devise ways and means. to
expand the export and import business
of the port OF Pensacola. .
The Pensacola Traffic and Foreign
Trade club will cooperate with other
traffic clubs and freight rate associ-
ations in rate matters, as may be
deemed advisable to the interests of
Pensacola, and with other export as
sociations on foreign trade matters
The charter membership includes
Roscoe Wallace, of the Antwerp Naval
Stores company; A. +. Paderick and
G.. C. Richards, West Florida Grocery
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-20

company; A. L. Reinschmidt, Pensa-
cola Cooperage company; James f.
Phillips, coal dealer; Pieter Altink. of
the Cuba South Coast Trading COM
pany; J. T. Battles, Newport Tar and
Uurpentine company; Harding Burke
and w. E. Acosta, Louisville and Nash
Vile railroad; Marvin Garrett, Lon
don Savannah company; John r.
Jones, Southern Paving Construction
company; Jesse Clark, Warren Fish
company; Lou Caro-, Fred Gilmore
company; Lee Macdonald, the Mac
Donell company; Evans Bozeman,
Pensacola Compress and Warehouse
company; F. It. Bingham, Southern
States Lumber company; r. NJ. Cary
and John Massey, Cary and company;
A. II. Jones, Gulf Export Lumber
company; w. c. Yonge, the ]. A. Mer-
rift company; r. w. Meacham and
A. f, Reade; G. f. and A.; f. j. Egan,
Pensacola Shipbuilding company;
Chaffee Hallmark, Levy & Hallmark;
FL. V. Lynn, Lewis Bear company; w.
G. Campbell, Consolidated Grocery
company; A. L. Poidevapt, Western
Papermakers Chamical company; ].
II. aoue4IiiI, FoneTlu O1l company ii.
L. Hughey, Pensacola st. Andrews and
Gulf company; E. H. Carter, Carter &
Arnold company.
In assuming his duties as president,
Mr.. Wallace said that he believed that
the Pensacola Traffic and Foreign
Trade club would be one of the great
est factors for Pensacolas develop
ment that could possibly be devised,
and he urged his co-workers on the
official board to do all in their power
to make the organization one hundred
per cent efficient, by not only attend
ing the meetings, which will be on each
Wednesday afternoon, but by bringing
other members into the club, and thus
forming strong force for concerted
action, which will eventually bring
about much needed results.
1t was pointed out at the meeting
that since the organization the traffic
bureau of the chamber of commerce,
many thousands of dollars have already
been saved to the city, and it is be-
heved that the Traffic and Foreign
Trade club will result in a great gain
in influence and results attained.
The next meeting will take place the
first Wednesday in january.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-20
RECEIVER NAMED
FOR VALPARAISO
William n. Knowles Appointed by
Judge Sheppard Upon Petition for
involuntary Bankruptcy.
A petitlon Of Involuntary lbankruptcy

A petition of involuntary bankruptcy
against the Valparaiso Development
company was filed in the office of 2.
w. Marsh. clerk of the United States
court, yesterday and following petit
ton praying for appointment of a re-
eeiver by the court, Judge William B.
Sheppard appointed William H.
Knowles as receiver of the company.
Both petitions and the order of ap-
pointment were filed yesterday.
The petitioners were the w. A. Ray
Hardware company, c. Mckenzie Ger
ting & Co. and Ferris-Lee Lumber
company, each being creditors of the
Valparaiso Development company by
virtue of the purchase of supplies on
open account by the company. Accord
ing to the petition, these supplies had
not been settled for and for protection
they filed the above mentioned petit
ton.
The amounts named in the petition
are: w. A Ray Hardware company,
for hardware and other supplies
$1,21o77; G. Mckenzie oerting & Co..
for groceries, ship chandlery supplies
and hardware, $2S5.46; Ferris-Lee
Lumber company, for building sup
plies. S1,O27.T0. Two notes for the
sums of $500 each had been applied
to the lumber companys bill, which
left an unsecured balance Of $3.50
The property named in the petition in
cluded certain farm lands which are
under cultivation, certain live stock,
and various other kinds CT personal
property of the value of many thou
sand dollars, the exact description of
which was unknown to the petitioners.
About two weeks ago, following a
hearing of the unit holders of the COM
pany at Crestview in the circuit court,
Judge Campbell appointed J. NJ. Reid
of DeFuniak Springs as temporary re-
ceiver. w. w. Flournoy, attorney for
the development company, Immediately
filed a supercedas bond and it is I'M
derstood that an appeal was made. 1t
is thought that the manner in which
the business of the company was be-
ing conducted after these proceedings
prompted the filing of the involuntary
bankruptcy petition yesterday.
In the order of Judge + Sheppard,
naming William H. Knowles as receiv-
er, he was authorized or ordered to
file the necessary proceedings in the
circuit court of Ol1aloosa. county re-
questing that Judge Campbell order
Mr.. Reid, the receiver appointed by
him, to turn over the books and other
business of the company to the newly
appointed receiver.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-20
WILL SEND GIFTS TO
METHODIST ORPHANAGE

TROY, Ala, Dec. 19.-IThe Troy
Methodist Sunday school raised be-
tween two and three hundred dollars
as a Christmas gift for the Methodist
orphanage at Selma.
A white Christmas tree was held and
over three large boxes of fruits, toys
and other useful gifts were made to
the orphanage at Selma, in addition to
the above mentioned cash collection.
The Birmingham age-herald., 1921-11-17
Store Turned Over to Buyers and Managers

December
  showu what eleven real live hus can when turned There will  eandf it. for
The Birmingham age-herald., 1921-11-17
Buyers and Managers Say "Watch for Our Bargain"

Mr. P has turned his entire do with e and
   Bmngha m m f
  b every his bargain
The Birmingham age-herald., 1921-11-17
'.The Lucky. Eleuen" Will Bring You Back to

Buyers and Managers Sale" of Wall Paper and House Paint, and pay espe- cial attention to the Amount of Money We Will Save You.
 (Mr. Glover. Manager)
 There are just exactly 4.Soo rolls of this wonderful wall paper to sell at the little prices we mention below. The manager of this department has made up his mind to clean up his entire stock because he is going to market real soon and wants to have his stock entirely cleaned up before he goes. at lower prices Than you ever thought to buy 1t before. Take notice, how ever, that none of this paper will be sold without borders.
 1000 ROLLS OF FOG VALUE O. WALL PAPER, THE ROLL OC I,soo ROLLS OF soc WALL 101 PAPER, THE ROLL xVC 1000 ROLLS OF 3sc WALL PAPER, INCLUDING 3o-lNCH WIDTH OATMEAL, THE 10~ ROLL 4kC 800 ROLLS OF S0c WALL fAPEN,
 THE ROLL lBe
 A SALE OF BEST WALL PAINT; REAL UP TO $3.6s VALUE. "BUYERS' A N D MANAGERS SALE," THE CT HE GALLON 0xsIO Just e5 gallons of this paint to close out at this price. Best wall paint, and we are selling it cheaper than we can buy it at the paint mills. &