davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-12-04
Boom in Wool Shows
Up in Boston Trade
Government Sale Brings Active
Buving. Which Is Spread
ing; Mills Conservative


BOSTON. Dec. with advances Of
20 and 25 per cent over prices realized
at last months auction, the government
sale during the week clearly showed the
strong upward trend of. the wool mar
ket. The principal buying was done by
the dealers. All woods offered were
quickly snapped up, and a large pro-
portion of the approximately $1,000
opunds of worsted yarns was sold. The
auction was as the largest attended in
the 115 which have been held Many
came with in the intention of buying
much wool, but the prices bid were too
high. There were too many bulls to
suit the BEARS" as q prominent MEM
Der Of the Boston Wool Trade Associa-
tion remarked in commenting on the
sale
To what degree the manufacturers
and the conservative dealers may de-
precate the exceedingly buoyans ten
dency of the wool market. there is =
real boom on. Wool is rapidly chang
ing hands, and it is reported that some
lots of wool have been sold three times
inside fthree days and each time has
brought higher figure. Manufacturers
do not look with favor on so much buy
ing among dealers, saying that they
should sell to the mills. In reply the
dealers say that some mill managements
send their buyers out West to purchase
wool direct from the growers, so they
feel no compunction about any tran
ssction which they may choose to make
among themselves. 1t is distinctly =
sellers market. Some mill men who
have been short of wool have paid the
new prices, but those who have not
actually been suffering for the lacs Of
it have pursued conservative policy.
New-York tribune., 1921-12-04

expensive goods are holding up we'll,
according to all reports.
Christmas business in jewelry, how
ever, is running below normal. The
jewelry departments have felt the i'm
petus of Christmas buying, but man
ayers of jewelry departments in the
department stores, and individual jew
elers say that public interest in jew
eiry is less marked than it was even
last year. An uptown jewelry manu-
facturer who supplies some of the high
est grade special order pieces and
whose business in this line always
shows q sharp upward trend about
this time, says that this year he has
received few special orders. In the
matter of wrist watches alone last year
he made several special jeweled cases
ranging in price from $40 to 10000.
This year the highest priced special
case order has called for $4,000.
turs, which also furnish some of the
most expensive Christmas gifts in the
category, are not moving so briskly
this year as they did last year, accord
ing to one Fifth Avenue dealer. "Last
year." said he, 81 sold several sable
wraps for Christmas presents. Each
represented small fortune. This year
SO far have sold but one such wrap.
despite the great fall in fur prices"
Getting a line on the comparison be-
tween the volume of business this year
during the holiday period and similar
previous periods will be difficult, be-
cause of the great price changes and
their irregularity
New-York tribune., 1921-12-04
Early Buying Evidenced

The influence of Christmas shopping
made itself felt as early as October
For that month in New York and
Brooklyn department store sales, a. re-
ported to the Federal Reserve Bank
here, showed a 30 per cent increase in
money value over September sales.
When it is recalled that October was
highly unreasonable so far as weather
was concerned and that this had q
great influence on the apparel and
kindred business, it is apparent that
much of the increase in October sales
was due TO the beginning of Christmas
buying
Retail conditions in New York ap-
pear to be better than in most other
centers. due, the retailers assert, to
the wide diversity of industrial ac-
tivities here, which tends to keep the
buying power of the public nearer 3
level than in centers dependent upon
single or two or three large indus
tries. The October sales here, accord
ing to the Reserve Bank figures, were
a per cent in advance of last year.
With prices in most lines considerably
lower, this means a great increase in
the physical volume of merchandise
sold. That more people are buying
and that those who are buying are
sbuying more than year ago is re-
vealed in these figures Stores which
keep record of the number Of trans
actions reported that in October the
number of individual sales was 33 5 uer
cent larger than year ago
New-York tribune., 1921-12-04
Improved Watch Clasp
New Jeweled Fastening Gains
Favor in Trade

A new jewelled clasp for adjusting
the ribbon on women's wrist watches
has made its appearance in the jew
elry trade, and according to it's mana-
facturers, is meeting with great sue
cess. The new clasp, for which applica-
tion for patenets has been made, diff
fers widely from the familiar post and
spring type, which is said to lead to
considerable dissatisfaction on the part
Of wearers because of the ease with
which it breaks and wears out. The new
clasp works on the over and under
groove fric .5n principle, with a little
hinged piece which forms part Of the
jeweled design and is discernable to
the casual observer. One variety is
made to lie fiat on the ribbon, while
another gathers the ribbon together
and allows sman loop to hang down
from which may be suspended the
bangles and ornaments now popular as
bracelet pendants.
So far the clasps have been produced
only in platinum, studded with jewels
and hand made. Such clasps retail at
S225 to $3.50. Tools are being made to
facilitate production, and the clasp soon
will appear in gold,
New-York tribune., 1921-12-04
Rerenue From Duties

Since more than half the government
revenues Of Colombia consist of i'm
port duties, the grave significance of
the above figures TO the national
finances is evident and the present
state OF the latter is indicated by the
fact that the salaries of many govern
nlent employees, including court off,
cials, are from three TO four months in
arrears, the latter in many sections Of
the country having sheathed the sword
of ffigstice by going on strike
This depleted state OF the Colombian
national treasury is of immediate con-
Germ to American exporters, since the
government is a LARGE foreign buyer,
especially of clothing and other sup
plies for the police and army and of
steel rails and equipment for the rail
ways, which are to considerable ex-
tent owned or controlled by the nation.
On the ether hand, the continual
clandestine expectation of gold. in
spite of legal provisions existing until
recently to the contrary, in order to
escape the high dollar exchange Incl
dental to the paying off OF the foreign
Indebtedness resulting from the buying
spree of 1920, has greatly reduced the
circulating medium, in spite Of =
issuance of paper currency by the
banks, under government supervision.
to the amount of several millions OF
New-York tribune., 1921-12-04
Practical Difficulty

"Now, the practical difficulty is that
he has legal right to change his
name. If so minded, he may call him
self William Shakespeare or George
Washington, supposing these worthless
to be solidly rated.
II have records of many spirited
dialogues between the real and the
false Morgan
ut is at any time tcklish matter
to demand that man shall prove his
legal right to his name before YOU
will do business with him, and the
false Morgan often possesses more as
surance than the true.
The manufacturers and wholesalers
who receive his orders readily accent
them as coming from the genuine Nor
gan, and ship their goods to him with
eager satisfaction
Thereafter the procedure is as be-
fore: Sacrifice sale, plea of financial
difficulties, compromise with creditors,
and our enterprising merchant is ready
to begin all over again.
These tricks are on the increase.
First, because they have been we'll ad-
vertised through cases in the law
courts; second, because, with the pres
ent market, manufacturers and whole
salers arc somewhat too eager to ac-
cept orders where orders are hard to
get.
These more than questionable rrac-
tices constitute, of course, an exceed
ingly small percentage of merchan-
dising transactions.
THE methods Of trade as whole
and its credit safeguards grow steadily
BETTER
New-York tribune., 1921-12-04
Toys in First Rank

Toys, as usual, rank first in Christ
mas merchandise. From figures avail
able at present, the managers of vari-
ous toy departments are one in assert
ing that business in their particular
field this year will come up 10 last
year, which was d record breaker in
dollars and cents, and bids fair to
outstrip it in the amount of merchan-
disc sold. Toys this year are cheaper
than they We're last year. Also there
is a wider variety in the cheaper toys
than there was a year ago. The retail
ers in making Christmas preparations
figured that there would be fewer of
the more expensive and elaborate toys
called for this year, and ordered their
stocks accordingly.
Imported toys are back on the market
in great quantities, and while little is
made of this fact in advertising and
sales talk, no effort is made to conceal
the marks Made IN Germany" that
appear on dolls and other varieties of
playthings. Our Japanese friends also
have contributed d considerable guam
tity of toys; but in general the Ger
man toys have supplanted the Japa-
nese to great extent
In other gift lines, such as leather
goods, dress furnishings of all kinds
and boudoir accessories, the public is
buying much as it usually does The
bulk of this business is confined to the
medium and cheaper priced merchan
disc, as usual but sales of the more
New-York tribune., 1921-12-04
India's Sugar Crop Less

the 1921 -'22 crop Will probably apprcxf-
mate 1850, 900 tons OF crude sugar.
compared with the estimated yield Of
2 2500, 900 tens from The 1920 crop.
This estimate is based upon the acre
age, unfavorabie weather conditions at
the tisne of planting, and the condition
Of the crop about August ], as reported
in the first sugar cane forecast of the
government of India for this season.
The sugar cane acreage reported in the
first forecast of this year is 2,37i ,000
acres, as against 1868 .0o0 acres finally
reported for the 1920 crop. but past
results indicate that the final acreage
for this year will be little larger
than this firstnstimate.
New-York tribune., 1921-12-04
Special Foreign Finawoial Correspondence
SANTIAGO, Chile.

Special Foreign Finawoiui Correspondence
SANTIAGO, Chile.
THE conferences between the
Association Of Nitrate Pro-
ducers, of Chile, the represen-
tatives of the "pool" or holders of
nitrate stocks in Europe, and dele
gates from the Chilean government,
which were recently held in Val
paraiso at the instigation of the
President of the Republic of Chile,
eliminated in the signing of an
agreement regulating future prices
and bases for the effecting of new
sales of nitrate up to July 80, 1928.
The continued paralyzation of the nj
trate industry and its depressing effect
on Chilean economic and business con-
ditions previous to the calling of these
conferences decided the government to
make a determined effort to bring
about better working arrangement be-
tween the two important factors-the
producers and the buyers, represented
by the association and the "pooP'--
and to this end drew up a new schedule
of selling prices to supersede the old
prices of Ia shillings per quintal at
the coast and 1914 pounds sterling per
ton in Europe, agreed upon January 26
last, to rule until March 81, 1922.
New-York tribune., 1921-12-04
Progress Toward
Normal Slows
Down in November
Boston, Atlanta and Cleve.
land Reserve Bank Re-
ports Show Drop in Rate
of Activity Last Month

Further evidence that the prooress
toward normal in most Industries
slowed down considerably in October
and November is found in reports of
the Federal Reserve Banks of Boston.
Cleveland and Atlanta.
The Boston banks says that industry
as whole improved but slightly in the
New England section in November
Papef showed the greatest progress.
Inc WOODEN trade is near normal, but
cotton had set back as did shoes. Re-
tan trade took decided leap inward
IN October, sales for that month in
lS department stores reporting to the
bank, being 32.4 per cent larger than
IN September and IA per cent ahead
of October 1920.
The Cleveland hank draws attention
to the unfavorable ratio between prices
for farm products and manufactured
goods, and attributes some of the half
IN business to this factor. Tho move
ment of commodities on the Great
Lakes showed loss in October. Little
change was noted in the automobile
industries. Plate glass is quite active.
with factories operating rs to 80 per
cent CT capacity, and the rubber trade
SHOWS continued Improvement.
Retail sales in the Cleveland district
IN October were 1872 per cent in money
value under those of a year ago, and
for the period from July to November
We're 20.S per cent under last year.
Slow progress is delineated by the
A>lanta bank, with reports from its
correspondents in various industries
less optimistic than they were month
ago. The cotton situation continues as
the chief drawback in this section. Re.
tail trade in October improved over
September, but was I5.1 per cent be.
hind last year in money value Of sales
The drop for the period from Juiy !
10 October 81 this year compared te
last year was 21.S per cent.
Wholesale, sales in dry goods, shoe.
and furniture during October were
larger than those in the same month !
year ago. Dry goods, however, suf
fered 14.2 per cent decline from Sep
tenber to October.
New-York tribune., 1921-12-04
Credit Agent
w arms of Two
New Trick s
Overbuying and Fake
Names Resorted To by
Swindlers' Operation on
Merchandise Wholesalers
Sees Spread Of the Evil
Desire to Sell Goods Makes
Victims Susceptible to
Fraudulent Practices

< WARNING to manufacturers
~ and wholesalers to be on
their guard against two
clever swindling strategems is issued
by j. w. Campbell, president of the
Credit Clearing House. These two
tricks have been practiced many
times lately, according to Mr.. Camp
bell, and are likely to be tried with
greater frequency in the next few
months.
"The first of these trade strategems. :"
he said, "is overbuying, with purpose
that falls somewhat short of honest
merchandising. After establishing a
credit standing the merchant planning
an oblique campaign of this kind pro-
ceeds to order goods, at first in mod
crate quantities and then with rapid
ly accelerated velocity.
"In some cases this kind of overbuv-
ing develops after years of honest trad
ing; hidden weakness of character
suddenly breaks out unoer strain. Once
the decision is made the merchant en-
deavors to spread his orders over as
wide territory as possible, often COW
erlng score of states and placing a
large proportion with manufacturers
and wholesalers who have not sold to
him before
New-York tribune., 1921-12-04

LARRY GEAR.
Eetaliers readily admit that sales in
many departments show falling off.
greater in some than in others. The
clothing and shoe departments appear
to be running behind, largely because
tue public is economizing in the matter
OF personal dress. But even in these
departments contrary trends appear.
Despite the spirit of economy plenty
of high priced articles are being pur-
chased, not in riotous extravaganza Of
couple of years ago. but fully up to
the level of days before the war, and
IN some cases at a greater rate, and
at higher prices.
Although the departments mentioned
are suffering as result of the con-
tlnued economy on the part of the pub
nc, there is much evidence supporting
the theory that the strings on the
ruDllc's purse are gathered less tightly
than was the case earlier in the year.
Supporting this evidence are the sales
hgures on departments handling goods
that fall under the general classitica-
tion of gifts Further evidence lies
before the eyes of any casual observer
who has visited any one of the retail
department stores within the last week
in search of Christmas gifts. The shop
peTs are out IN force, and although
they are choosing their purchases with
considerably greater care, particularly
as to their intrinsic value, they are
spending their nlOney freely
New-York tribune., 1921-12-04
Japanese Chemical Market

The chemical market Of Japan IS
somewhat firmer. according to the
Toxic "Koshinio' of September 20,
1921, as quoted by Acting Commercial
Attache H. A. Butts. 1t is stated that
textile producers have begun to cover
winter requirements and home stocks
are decreasing. Importers, however,
were not yet placing orders with for
eign firms, small transactions generally
prevailing. Wholesale merchants in
the chemical trade, who have compara-
lively light stocks. were reluctant to
sell at cheap prices.
New-York tribune., 1921-12-04
Railroad Pioneers Secret Not a ssDis-
covery," but Necessity, Explanation
to Thomas Woodlock
BY Thomas Woodlock

isoa 'ne iaee James j. Hill
IN american railroad affairs Unlike his rival Mr. Harri
had pioneer both in construction and nera;o 10
alone had out trancontnena line passing through bank
p aon among transcontinental
duted redced dividend
And ih methods of operation among
railroad men, lie kept house cared
better he h&ed It, his superntennts
general managers and
handsomely
paid TO tne IL not the slightest exaggraton
James j. Hill the taught his generation the art of sue
New-York tribune., 1921-12-04
Conference OF, Prices

This new schedule of prices the asso-
citation and the pool" were invited to
consider in conference with the govern
ment. At the old prices the pool
had been unable to effect sales under
the present adverse economic condi-
tions prevailing everywhere in Europe;
those agreed on with the producers,
for, apart from losing money. it would
have been obliged to diminish the
guaranty which its stock of 100000
tons was furnishing the bankers who
had advanced its funds with which to
meet it's obligations to the Association
Of Producers. On the other hand. the
association found itcslf In the position
New-York tribune., 1921-12-04
Reduction Sales

After thus accommodating large
amount of merchandise the merchant
proceeds to stage one or many reduc-
tion sales, marking the goods down to
10 er cent or so per cent of the whole
sale prices, and quickly takes in large
amount of cash.
meanwhile his creditors, scattered
all over the country, are pressing him.
He assumes an air Of tragedy, pleads
financial difficulties, and finally makes
p compromise offer of 20 per cent or
20 per cent of the cost price. The cred
itors accept; the deal is over; the
merchant has made comfortable profit
ard has kept within the law.
"a second trick Of the trade involves
the use OF Il borrowed name. An en-
terprising merchant wishes to estab-
trouble and delay of earning it by
honest industry.
"1n every town there are one or
more long established houses in the
line which our enterprising merchant
has chosen for his operations. He Sc
lects from among them a name which
tickles his poetic fancv and adopts
himself into that family. 1t is then
quite easy to have handsome letter.
heads printed. and to rent a store,
often in the same street. as his still
unconscious adaptive family.
HE then proceeds to scatter orders
broadcast, taking the addresses from
advertisements and circulars What
he successfully relies on, is hasty
reference to the rating books, in which
his adaptive name stands high; the in
secure confidence thus engendered
leads to the prompt filling Of his
orders
New-York tribune., 1921-12-04
sneetaI roreiea rinanelal Correspondence


BOGOTA, Colombia, Nov. ii.
II ME outstanding features of the
\ present economic situation in
Colombia are the existing con-
traction of the circula ating medium
and the desperate fiscal crisis with
which the government is beset, and
which practically amounts to tenn
porary bankruptcy.
The general money shortage and the
depleted state of the national treasury
are due to the same ultimate cause
the unprecedented rush of Colombian
buyers in 1920 to place orders for for
elgn merchandise, chiefly III the United
States, stimulated by the surplus of
money due to the sudden marketing at
q comparatively high price of coffee
stocks accumulated as result of
forced boarding of this commodity dur
ing the war. owing TO lack of transpor-
tation facilities.
The surplus stocks Of merchandise
resulting from this overbuying, coupled
with the greatly reduced prices received
for subsequent coffee crops, have so
checked Importation that as against
import duties collected during the cal
endar year 1920, amounting in round
numbers to 17,500,000 pesos, or nearly
100000 pesos a month, the customs
duties for the first six months Of 1921
averaged only half that amount month
iy and have subsequently suffered a
further decrease,
New-York tribune., 1921-12-04
Free Gold Exports

This money shortage is being still
further increased as result Of law
which went into effect on November g..
and which authorizes the free exporta-
tion of gold in every form, forbids the
further issue by banks Of any form of
credit document designed to take the
place of money and makes obligatory
the prompt retirement of paper cur
rcncy hitherto issued by banks. on the
dates specified in the respective con-
tracts by which their emission was au-
thorized by the government.
Other correlative effects OF this law
New-York tribune., 1921-12-04
Canadian Potatoes Exported

Canadian potatoes exported to the
United States amounted to 116240
bushels in September and 160,536 bush
els in October, according to Consul
General j. l. Britain at Winnipeg.
Most of these potatoes came from the
provinces of Manitoba, Saskatchewan
and Alberta. Large quantities Of Ca
madam potatoes are being stored At
Minneapolis.
New-York tribune., 1921-12-04
! s'oulf Dirided

Nothing, perhaps, in ali the relations
between the railroads and the govern
saent of the United States has tended
more 10 darken counsel and obstruct
development than failure to recognize
lhs great principle. The fault is not
iii on one side; railroad managers
have been to blame as we'll as railroad
eguia tors. Emphasis has been placed
apon seeming-or, at the most, merely
superhcial-antago gonlsms to the neglect
Of the fundamental solidarity of inter
est. There is no profit in attempting
to apportion blame in the matter; 1T
S. however, necessary to note the laet.
We are struggling painfully toward the
light in the attempt to solve our rail-
road problem in this country
1t is the most serious and most dli-
licult single problem in our domestic
.fairs and one must have robust op-
simism indeed if one expects to be con-
tinuously cheerful over the prospects
5or it's successful solution. Continued
ignorance and suspicion (Which we
must unfortunately accept as the more
sor less inevitable s.defects" accompany
,ing the indispensable Qualities" of
sdemocracy") lead US to elaborate sys--
fems ef control, restraint, check and
countercheck which, aimed only too
frequently at shadows and nightmares,
clog and fetter the elemental realities.
Let me illustrate with concrete case
where We may bring together two
things-the thought of the community
at its most advanced" stage with re-
spcct to railroad regulation and the
application of that thought to What
] may fairly call railroad practice at
IT'S best
New-York tribune., 1921-12-04
Colombia Is Short of Cash
Large Purchases at High Figures and Slump in
Prices Halt Trade, Checking In
come From Customs

have been lowering in the dollar ex-
change rate and corresponding in
crease in the premium commanded bv
gold coin
=, On the whole, the buying power of
Colombia is badly crippled. and its
future is dependent upon the volum .
of exports and upon the possible &C.
ceptance of the. treaty with the United
States