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Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19

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Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
CAPITAL COMBINE RESPONSIBLE =
FOR NATIONWIDE SHUTOOWNSI IS
CHARGED IN RAILROAD HEARINGS

+ within the identical capitalist group
lies the power to adjust or misadjust
relative prices in manner that will
stimulate or suppress industrial ac-
tivity 1t points out that this focal
capitalist group has deliberately
maintained high prices of steel, coal,
cement and other basic materials and
that the railroads, financed by the
same interests, have refused to place
The orders for plant maintenance, or
even the orders necessary to prevent
plant and equipment deterioration
The exhibit shows that the great
er factors In American industry, the
railway equipment producers, the
railway repair works, the steel inter
ests, the coal, cement and other ba-
sic material producers-all are close
ly bound together by intercapital re-
lations and interlocking directorates
coming to focus in the house Of
Morgan.
The railway employees make no
issue as to the propriety Of a CEN
tralized system Of economic control
The point Of the exhibit is its chal-
lenge Of the uncomfortable misuse
which the great combine has made
Of its power The employees call at
tention to the national responsibility
which the possession OF such power
entails and note that this responsi-
bility in the case OF the railway in
dustry has been recognized and writ
ten into the federal laws Of the
United States, and the employees spe-
cihcally point out that this responsi-
bility is being unscrupulously evad-
ed
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19

POTsDAM, Germany, April 10
Amid the tolling of bells, the fu'
neral services for Augusta Victoria
the former German empress, were
held here at the royal residence SUI
burb Of Berlin. over the simple
rofan in the mausoleum or antique
temple in the Potsdam palace
grounds had beoa raised the fa-
mBiar yellow standard of the ex-
empress. and at its foot stood four
sons Of the former royal couple who
were free to attend the service
Lacking was the presence OF her
husband, tho former emperor, and
the former Crown Prince FREDERICK
william. exIled in Holland
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
AND WRITER.
IS TONOPAH VISITOR.

Mrs. Lydia Adams-Williams, for a
number Of years past employed at
Washington, D. c.. in the u S. de
partment Of agriculture, is now visit
ing in this city, and will remain
here for the next 10 days. Mrs.
Adams Williams is the daughter Of
Mr.. aud Mrs. John Quincy Adams,
two of Nevada's earliest pioneers.
who came to Genoa, Nevada, then
known as the Mormon Station" in
1852 They settled on a homestead
about one and q half miles north 1f
Genoa and by use of the crude meth
DDS Of irrigation then in vogue, de
yei0pei their desert farm into a
beautiful ranch where it now stands
and has been frequently pointed out
q monument OF irrigation.
In their family born and reared
on this farm, besides Mrs. Adams
Williams, we're two boys, John Ad-
ans, a member of the well-known
firm of Adams & Miller, of Haw-
thorne, and who now resides at Los
Angeles, and William r. Adams, who
still lives on the old homestead at
Genoa.
When Mrs. Williams first
went to Washington, D. c. in 1904.
the Importance of the undeveloped
resources Of the west had just begun
to be, to a small extent, realized
While working, at first a teacher,
during her spare time she devoted
herself to the task Of enlightening
oy lectures and newspaper articles,
the people Of the east as to the won
dertuI opportunities of the west.
When congress finally saw fit to open
the Walker Lake Indian reservation
ior mining locations, in 1906, she
came west TO be in the rush" and
carried the dynamite for the signal
saa fred at the south boundary
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
SCOTTISH RITE
NASONS ARRIVE
HERE TOMORROW

F'ieen members of the Scottish
"'s 2 Masonry will arrive tomor.
II" morning from Reno. and short
after their arrival their eere.
"'aiss viii be commenced In Mason
temple which win consume over
~ aays q eoaierriuE degrees upon
9eFs @ be advanced in degrees
'aa' order On Friday morning
shFiners and their noted brass
@ a.ll arrive from Rene and thelr
'''''oa and high links win con
Naas uatil Saturday uirht on Fr
gay o'shl me Mason. viii en,sr,alf
w @embers aaa ladies With a ~
~ lance a. he Airaame
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19

was prepared by the American Fed
GRAFTON of Labor bureau Of research
railway employees department, and
entitled, Human Standards and
Railroad Policy"
The dozen New York financial in
stitutions as named were:
Mutual Life Insurance Company
Of New York.
First National Bank
Equitable Trust company
j P Morgan & Co.
Guaranty Trust company
Equitable Life Assurance Society
OF the United States.
American Surety company.
National Surety company.
Mechanics & Metals National
Bank.
National City Bank.
New York Trust company
Chase National Bank.
Mr. Lauck charged that these
banks had directors in 92 Glass /
railroads, and In 20 railroad equip
ment companies, that their director.
ships reached "a coal railroads and
coal companies, and that through
non-banking directors this alleged
capital combine was still further in
terlocked
Mr. Lauck summarized the report
as follows:
The evidence shows there is a
capital combine consisting Of major
banks, the railroads and the indus
tries controlling basic materials, and
that this combine has and exercises
a power over the economic destiny
Of the United States. It shows that
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
u. S. COAL PRICES
LOWER THAN GERMAN

BERLIN AHfH no "A Herrrf tan
Halle states mHf American eoaI Is
being ansrad Can industrial rmsa m
that section al a pr.ge SO uHrsa uf
uoa below tae present German EE
ufe German Industry t %
te taHfnF from a eaf ahHFfae
owing g. hn eHaru7gs m1H.aN te
Iyees ta tha erJaats
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
Boiler TUBE
EXPLOSION ON
PRINCES ship
NV A..ocinted Pressl

TOXIC, April ia boiler tube
exploded aboard the Japanese bat
tleship Katori, on which Crown
Prince Hirohito is travelling to Eu.
rope, while the vessel was between
Colombia and Suez, says an official
statement today Two sailors were
killed and two wounded, but the
crown prince arrived safely in Suez
A similar explosion occurred
aboard the battleship Kassima, es-
corting the Katori, killing three sail
ors and woundiuE one
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
HARDING ATTENDS
STATUE UNWILLING

WASHINGTON. d. c. April 10
President Harding left Washington
today by special train for New York
where he will attend the uuyelllng
OF the Bolivar statue, returning 70.
might Ho WIS accompanied by Mrs
Harding and party ot personal
friends
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
opDER INVESTIGATION
UNI OF RAIL SITUATION

", ,,.,suNaroN. u G, April i9.-
A sausral Investigation OF the ''"
..t .rsatiau vas ordered by a sen
-,s resolution offered by Chairman
e,um.ns % the interstate eommsEee
committee ana adopted WITHOUT 's
L---
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
COMPLAINT 7
IN FREIGHT
RATE FILED
BY NEVADA

WASHINGTON. D. C, April 10
The Nevada public service commits
sion today complained to the inter
state commerce commission against
tho freight rates maintained by the
Southern Pacific between points in
California and that state, and asked
for an investigation.
The Nevada commission said the
same rates were maintained between
San Francisco and Loveloek, dis
tance of 343 miles, as between San
Francisco and Reno, 244 miles, and
that similar blanket rates are in
force between those points.
....xssseRaSSSk.sS@
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
FUNERAL Of
EMPRES S
5 7 A
VIC + 0 RIA


BERLIN, April l9.-All roads out
of Berlin led to Potsdam today.
The throngs which made their way
thither to witness the funeral ceme-
monies for former Empress Augusta
Victoria crowded all manner of con
yeyances to this home of the erst-
while royalty, For the last As hours
Potsdam has been the mecca of a
pilgrimage the like Of which has not
been known since the historic su-
burb became the shrine of Hohen-
zollern traditions.
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
w NorleIs srNr our

se4as Treasurer Larry Glass has
~. lhe aotleoa to taxpayers
attention q the fact that the
y, n''A'lmea' % axea q aae
~ esooms delinquent On Mon
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
100000 FIRE
DESTROYS 1870
AUTOMOBILES
ny Associated Press)

STOCKTON, Cal, April l9-Fire
OF unknown origin gutted the build
ing occupied by the Menzies & Can
rel and Earl c Anthony automobile
firms and also damaged the next
door building of Allen Tesa, auto
mobile dealer One hundred and
eighty automobiles were destroyed.
The total loss is expected to be ap-
proximately 100000
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
SERIOUS fight
IN ITALY AMONG
THE COMMUNISTS
Dry Associated Press)

Wy 1NEHV'I1I1VF IVTHT
ROME. Italy, April 19 Distressing
details Of a battle between the fas-
citi and communists are reported by
the Giornale DItalia, which says the
communist villagers attacked fasciti
motor lorries with rifles, revolvers,
spades, hoes and sickels One of the
chauffeurs was beheaded by the
crowd, says the newspaper, and
others of the fasclt were mutilated
by the crowd
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
AMENDMENT To
RAISE columbian
PAYNENTOFFERED

iby Associated Pressb
WASHINGTON, D. C., April 10
An amendment to the Colombian
treaty providing for payment Of $780,
100000 instead Of $25,OOO,OOO to Co
lombja and for cession to the United
States Of the Providence and St. An.
drews islands in the Caribbean sea
was offered by Senator Ransden
Senator Shorridge Of California
urged ratification Of the treaty.
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1921-04-19
SALE Of
ART TREASURES

by Associated PreSs
RELSIEGFORS, April 19,-Soviet
Russian officials are putting into
effect a decree proposing that Rus
sian art treasures seized from the
palaces Of private individuals be
placed on the market and sold for
food
The Washington herald., 1921-04-02
Treasury Retires
Special Certificates

The Treasury has begun the re-
tirement of the special Treasury
certificates OF Indebtedness isued
to secure Federal Reserve Bank
notes under the Pittman act ap-
proved April %, 1918. according to
announcement by Secretary Mellon
yesterday. Pittman act certificates
to the amount of $5,000,000 were
retired on February IS. 1921, out
Of the general fund, and s5,000,00o
additional were similarly retired on
March 2s. The Treasury -expectS to
continue to retire Pittman act GER
tiicates not required to secure is
sues of Federal Reserve Bank notes
at the rate of about s5,oo0,ooo per
month.
Pursuant to the terms of the Pitt
man act, the Treasury is also coin
ing into standard silver dollars the
silver bullion purchased under the
act. Silver certificates will be is
sued in regular course against the
standard silver dollars so coined.
and Federal Reserve Bank notes
and Pittman act certificates pledged
to secure them will be retired in
corresponding amounts. Pittman
act certificates to the amount of ST.
900, 900 have been retired up to
March 81, 1921, as the result of
the coinage of standard silver dol
lars. This means that the total
amount of Pittman act certificates
outstanding has been reduced from
$3.50. .37s.oo0 on December 81, 1920,
to ,$247,375, 600 on March 81. 1921.
The Washington herald., 1921-04-02
COTTON SITUATION
AT SERIOUS STAGE
Wanamaker Confers with
Hoover; Bankers to De-
eide Upon Remedy.

The cotton situation was described
as very serious yesterday at a con-
ference between Secretary OF Com
merce Herbert Hoover and John s.
wanamaker. of the American Cotton
Association. II was announced that
Southern bankers and representa-
tives OF producers will meet with
Mr.. Hoover Tuesday in an effort TO
decide upon a remedy.
The plans tentatively proposed
are: Formation of Southern export
organizations to extend long credits
to European purchasers OF cotton;
War Finance Corporation assistance
to this export movement; Edge bank
organizations in the South to handle
foreign credits; a method, not yet
worked out, of getting longtime
credits to the cotton farmer. so he
can get cold cash for his crop while
the paper credits are being ar
ranged.
II was pointed out yesterday that
Southern banks are carrying large
loans made on cotton when IL was
worth much more than present
prices. Forced sales now could not
pay these debts. At the same time
Europe cannot buy this cotton for
lack of cash or credit.
The Washington herald., 1921-04-02
NUMEROUS STATES
NAME DELEGATES
Nearly Score Elect Represen.
tatives to General Farm
ers' Conference.

|, CHICAGO, April 1.-Nearly a
score of States have elected dele.
gates to a general conference OF
farmers associations to be held in
Chicago this month for consideration
Of the grain marketing plan of the
committee of seventeen. Whether
the plan will be indorsed in its pres
ent state is a question.
Farmers. under the provisions of
the plan, would contract to sell all
their surplus grains to the National
Marketing Association for five years
and to contribute $40 for member
ship. Leaders of the movement say
there are 100000 farmers who
should contribute. A pool Of $1o,-
100000 therefore would be placed in
the hands of the marketing COM
mittee.
There are three MARKETING plans.
A farmer may consign to any
market. sell direct to his co-opera-
tive elevator, or enter a pool. In
pooling he has no voice as to the
sale price of his grain. His profit
would be derived from a pro-ratfne
method on the basis of the amount
of grain shipped to the national
marketing agency. Reports say
leaders of the movement are some
what at odds over phases of the
three plans. the, disagreement de-
veloping at a recent meeting Of the
committee in Chicago with represen-
tatives of agricultural publications.
Agricultural economists have de-
clared the committees plan win in
effect destroy the existing market
Ing machinery and in its place build
up giant experimental marketing
machine. A number of farmers or
ganizations have adopted resolutions
recently protesting against action
that would destroy the hedging ia
cilities of existing machinery. Copies
Of such resolutions have been for
warded to Congress.
The Washington herald., 1921-04-02
FRENCH SILVER
COINAGE GAINS
20, ,60S,429 Pieces Struck OF
During Past Year Up to and
Including May Ia.

The commission in control of mon
etary circulation in France, in q re-
port just issued, states that during
1920 up to May IA. 2s.s0s.42s silver
pieces were struck of. Since the
beginning of the war the total num-
Der of silver coins produced was
5s7,020,737 of a value Of 6s.60s.061
francs. Details of the commissions
statement received by the Bankers
Trust Company. of New York. indi-
cate that the wartime production
Of French silver money exceeded the
total production for the previous
fifty years. The output from 1864,
when the present. monetary regime
was begun. to August 2, 1914. was
544,s20.00o silver coins of value of
Is5,13s.ooo francs.
In spite of this heavy issuance, II
was impossible to keep the silver
coins in circulation on account of
the high price of silver which pre-
vailed a year ago and which made
1t profitable to export French silver
coins for sale as silver. The intrin-
sic value also induced boarding. The
minting of coins was. therefore.
stopped May IA. 1920. II now an
pears that the lowered price of sill
YER may again bring Hhoarded coins
into circulation.
1t is estimated that the total of
1858, 100000 francs in silver cur
rency produced during the above
periods about s5,000,000 have been
worn out and 1S0.000.00o bearing
the enigy of-Napoleon III were with
drawn from circulation.
The Washington herald., 1921-04-02
COTTON WEAKER
UNDER PRESSURE
Market Loses twenty-five
Points on Heavy Sell
ing Orders.

NEW YORK, April 1.-Pressure
against cotton continued today. and
the market was weaker after a
steady start. The selling was led
by Wall Street interests. At its
maximum loss the list was 26 to 3S
points below the previous close.
The market at Liverpool was sur
prisingly steady. as many brokers
had looked forward to demoralizs-
ton Trading in the pit was small.
Initial quotations were unchanged
TO IL points higher. The south gen.
orally sold. After the call there
were reactions, but fluctuations
were narrow until late in the ses-
sion.
In the final half hour offerings
enlarged. including small selling
from Liverpool. There was an abb
sence of spot pressure from the
South. Futures here ended easy at
a net loss of IS to IS points.
Spot here was quiet with mid
ding IS points lower at 1900; there
were no sales. Spot at New Orleans
was easy with middling unchanged
at ll-5oc; the sales were sos bales.
Receipts of cotton in bales at
some of the leading points today
were: Galveston, 957; New Orleans,
1867; Savannah, 965: Norfolk, 702;
Memphis. ISL; st. Louis 1,s45; Hous-
ton. 1,l6O.
The Washington herald., 1921-04-02
EXPECTS MUCH OF
SECOND QUARTER
Forbes Confident Present Pc
riod Will Bring Great
Improvement.

The first quarter of 1891 promises
to be followed by a somewhat BET
ter second quarter and a very much
better third quarter and fourth
quarter, according to B. c. FORBES
in the magazine which bears MS
name.
We are reaching the nnal stages
of the present readjustment move
ment. wages proverbiallS are the
last thing to go down" sharing
this distinction with rents.
Uncertainties Prevail
Although the air is thick with
uncertainty, l do not believe the
nations business will be thrown
into chaos by strikes of railwaymen
all over the country. There may be
shortsighted outbreaks of local i'm
portance here and there, incited BY
iIl-advised agitators. But. in my
opinion. the great majority OF rail
way workers are today alive to the
downward tendency of everything
and will accept reduction In
wages as unacceptable.
l also believe that steel wages
can and will be lowered, after steel
prices have been cut, without pre-
cipitating turmoil While the
United States Steel Corporation os-
tensibly still has enough orders on
its books lover 100000 tons) to
keep its plants going at full speed
for months. it is operating only
about one-third capacity. and new
business is not being received in
sufficient volume to keep the coun-
try's steel plants going at more
than one-fourth Of capacity. Under
such circumstances, price reduc-
tions by the steel corporation are
morally certain. And inasmuch as
additional thousands Of workers are
steadily being laid of. Judge Gary
need not be fearful that the work
ers will seek to vent their venom
on him II he lowers prices in order
to attract enough business to give
many idle men employment.
Let the railroad outlook be cleared
UP and let the steel industry be
placed on stable footing. and I be-
lieve a more cheerful view will be
taken of the whole economic situa-
tion. =
There Is warrant fSr Increasing
optimism rather than the deepening
pessimism which recently devel-
oped.
The Washington herald., 1921-04-02
FOREIGN TRADE PROBLEMS
TOBE THOROUGHLY AIRED
Questions of Wide Variety to Be Handled BY
internationally Famed Authorities May Al.

CLEVELAND, April 1.-Fcreign
trade problems of q wide variety
are to be handled by men Of inter-
national reputation at the coming
convention of the National Foreign
Trade Council, to be held in Cleve-
land, May 4 to T.. While the pro-
gram has been- only partially com
pIeted, Insofar as speakers are con-
cerned, the assignment Of subjects
for discussion to date has mar
shaled an imposing array OF au-
thorities on financing. exporting In
generals and the many questions
that are constantly arising In ex-
port trade.
Program Outlined.
The program as outlined by
topics covers practically all Of the
more important lines of industry
contributing to our export trade
The first announcement Of speakers
selected indicates that the discussion
will cover the export field both
from the viewpoint Of the American
exporter and the foreign buyer. Ihe
latter feature will prove particular
ly interesting to the exporter ano
especially to the manufacturer VINO
is just about to embark in the e1'
port trade.
In the general sessions these
speakers and their topics have
been announced:
Wednesday. 1000 a. M Financ-
ing American Trade" Fred ]. Kent
Bankers Trust Co, N. T. Frozen
Credits-what They are and How
TO Thaw Them" W. p. G. Harding
FEDERAL Reserve Board. Afternoon
session. Value OF Long Credits to
.ha Exnortinr Manufacturer
Georre r. Meyercord, Illinois Manu-
facturers Association; The Lum
NJ Fxnorter's Need for Long Cred
The Washington herald., 1921-04-02
FebruUy's Wholesale
Price Drop Averages 600

Wholesale prices of eighty-eight
commodities dropped an average of
6 per cent during February, accord
ing to figures compiled by the Fed
eral Reserve Board and announced
yesterday.
On the basis of prices in 1913 as
equal to 100. Imported commodities
dropped point to 113, as compared
to 24s last May. Exported con.-
modities dropped : points to 133. as
compared with. 2e+ last April, and
the price of produced goods
dropped 10 points to 15s. as COM
pared with 2ss last May. The all
commodities figure now stands at
1s4. a drop of 110 points from the
kighwater mark of last May.
These decreases. however, have
not been reflected in retail prices.
the board admits.
The Washington herald., 1921-04-02

by our banks and our investors.
Davis said. and that IL a cancella-
tion of the $4,000. .0o0. 900 is neces-
sary because We cannot take goods
it would still leave unsolved the
question of foreign debts and Sc
curities held privately in the United
States and the settlement of our
future trade balances.
Refutes Idea.
IF this contention were sound we
would have to cease to supply goods
and services beyond what we take
in return and would have no means
OF collecting what is already due.
AT the outbreak Of the war IL
was generally estimated that Great
Britain had foreign Investments TO
a value approaching 32o, 1000, 900. 900.
The British met the situation. not
by artificial steps, but by giving
free play to economic laws and by
investing abroad from time to time
a sufncient amount to cover the
foreign balance in their favor"