davidaulloa/AmericanStories huggingface dataset:
The evening world. [volume] (New York, N.Y.) 1887-1931, 1921-11-12
Capt. Robinson Makes Touch.
down Early in Second
Quarter.
LINEUP.
By Robert Boyd.
SpsaAl 10 Ihs Drnins World.

FOLIO GROUNDS, Nov. 12.-Under
overcast skies and threatening
weather that held down the attend
ance to 5000. Dartmouth and Penn
sylvania met here to- day in their an
nual gridiron battle
Since 1917 Pennsylvania has not
taken a game from Dartmouth. Both
elevens are finishing one OF the most
unsuccessful years in their grldiron
history. But Dartmouth was a slight
favorite TO win. jim Robertson, the
big captain OF Dartmouth. started the
game at half back. and wray, captain
of the Penn team, who has been out
the last few weeks from injuries. be-
gan as quarter for his team.
FIRST PERIOD.
Penn won the toss. After three at
.tempts 10 penetrate the Dartmouth
line, Wray, with the assistance OF Mil
Ter, executed two forward passes sue
cesstully, bringing the ball down TO
midneld. Here Penn lost the bali on
tumble. Capt. Jim Robertson cir
clo1 Ponn's left end FOR two long
gains Burke ripped holes into Pcnn's
LEFT side which evidently was the wcE k
spot Both teams found It difficult
task 20 gain with line plunE.ng aud
a kicking duel between Robertson and
Wray cnsued, with the Dartmouth
captain having the much bettar OF the
things. The FIRST period ended with
the ball on Penn's 20-yard line. End
| OF first period soore-Dartmouth O.
Penn 0.
Tho Penn line would not hold the
assaults OF Capt Jim Robertson and
Burke OF the Dartmouth bach field
The evening world. [volume] (New York, N.Y.) 1887-1931, 1921-11-12
NAVY'S GOAL LINE
CROSSED TWICE
BY PENN STATE
MiddieS Made First Touch.
down, but Quakers Come
Back With Two More.
LINEUP.

KfferFr. Nhafne. YaTe- TnlrlTt, EVA0a- WiIIlam (
Head 1in.snlsn. Ecklcs Washington and Ieffsrsnn
Ftrld JudEc. MARVEL. Swarhnors Time NJ Pc
r'ods fferu minutes
The evening world. [volume] (New York, N.Y.) 1887-1931, 1921-11-12
Lineup OF The TEAMS,
WITH NUMBERS OF PLAYERS
PRINCETON.

OfcalsW j Crowel Swarhmore Referee David
The evening world. [volume] (New York, N.Y.) 1887-1931, 1921-11-12

(Raeing Results, Scratches, Entries
ard Selections on Page 81.
The evening world. [volume] (New York, N.Y.) 1887-1931, 1921-11-12

Continued on Second Psss.l
The evening world. [volume] (New York, N.Y.) 1887-1931, 1921-11-12

tContinued on Second PsEe)
The evening world. [volume] (New York, N.Y.) 1887-1931, 1921-11-12

Continued tn Second Pase)
The evening world. [volume] (New York, N.Y.) 1887-1931, 1921-11-12

Cont red on Second Psge)
The Washington herald., 1921-05-09

Inc peynuchlS IhuS cAlcHu oNcE q
period Of twenty-six years. IL
equal annual payments could be
made il would require about $780,
ooo.o 900 a year to Iiquidate the prin-
cipal in this period. In addition
to this the interest charges OF $780,
100000 at the beginning of the
period would have to be met re-
quiring an annual outlay Of 1885,
100000 per year. Q.
It Is clear. however. that the
msturities arranged as they are will
require payment at a much more
rapid rate than this in the early
years. The Victory notes OF 81
zoe, 900, 900 mature in two years
while our annual rate would pro-
vide only $500. 900. 900 in that
time At the end of seven years a
total of s7,s5O.ooO.oO0 of principal
will have become due while the
scheme of annual payments would
provide only $3.50. 900, 900. Even at
the end of twenty-one years when
khe second Liberties become due We
would be short nearly S2,0o0,0oo,-
600.
Furthermore, there is also out
standing a floating indebtedness OF
about .2.5oo. 100000 and war saw
ing securities to the extent of some
$500, o,0o0.0 900 all of which must be
met within the next few years.
At the present time Congress has
provided for an annual sinking fund
equal to 1-2 per cent of the out
standing war bonds less an amount
equal to the par value of the OBJ
legations of foreign governments
held by the Treasury. This sink
ing fund amounts to about 3253,-
100000 for the present year. Any
repayments Of the principal of for
eign obligations must also be ap-
piled to the retirement of Liberty
bonds. 1t is calculated that the Gu
mulative sinking fund would retire
the war debt less the foreign obli-
FOREIGN OBLIGATIONS TO TIL
The Washington herald., 1921-05-09
New Steel Prices Expected.

Steel Corporation and the independ-
ents, is expected to be given its real
test in the next thirty days. The
Steel Corporation is not expected to
modify it's prices for some time to
come, and the question is whether
the independents will resume price,
cutting, either by reason OF running
out of such business as they now
have, or by reason OF seeing that
there is more business developing
such as might be secured by COM
petitive methods.
The Washington herald., 1921-05-09
Japanese Price Movement.

TOKYO. April Is. - Price levels
reached thei rhighest point in Japan
in the first quarter of 1920. During
the year since then the decline has
been precipitous Between January,
1920. and January. 1921. the price
of cotton yarns declined SO per cent.
that of raw silk 5S per cent, and
that OF matches 1s per cent Recent
Iy the tone Of the raw silk market
has greatly improved. A better
feeling obtains among the dealers in
other commodities, more on account
of increasing inquiries. however.
than because of any substantial de-
velopment Of actual sales.
The Washington herald., 1921-05-09
WHY WE ARE ACQUIRING
WORLDS GOLD SUPPLY
Europe Must Use 1t to Pay Debts-Foreign
Holdings Not Depleted.

worldwide movement of the metal
to this country is not hard to dis
cover. II is result of the efforts
OF foreign countries to pay their
debts to the United States. We have
advanced credits from public and
private sources to the extent Of
something like $4,000. coo. 900. and
have lately shown an increasing re-
luctRnce, as well as diminishing
ability to grant further accommo-
dations. At the same time. with
the general slackening of business
in this country there has been a de-
creasing demand for foreign as well
as for domestic goods, and our for
eign debtors have been unable to
pay US with commodities, in spite of
the stimulus which the condition of
the exchange markets is supposed
to give to export to this country.
In consequence the debtors have
been compelled to go down into
their pockets and pay us with hard
cash. 1t has also been suggested
that the easing of the credit situa-
ton abroad, as indicated by the low
erinE of the Bank Of England's dis
count rate. is making it less diffi-
cult to supply this country with
gold. II the foreign banks can
spare the metal they have a chance
to derive profit by it and
Strengthening the price of foreign
exchange.
One phase of the gold movement
which has been puzzling observers
is the fact that while Europe is be-
ing drained of its metal the stocks
in the central banks, instead of be-
ing depleted. have tended to in
crease. For example. the gold hold
ings of the Bank of England where
E12S, 200, 900. as compared with fll2,-
000, 900 a year ago, and during the
past year the holdings of the Bank
of France have remained fairly con-
stant. This is explained by the fact
that during the past six months
European banks have been con-
stantly drawing in gold from pri-
vate sources. A portion of the gold
imports have also come from the
hoard in Soviet Russia, reaching
this country indirectly by way of
Finland and the Scandinavian coun-
tries Travellers returning from
Russia state that a surprising guam
The Washington herald., 1921-05-09
By WILLIAM o. sCRoGGs.

Gold just now is actually beng
drawn out of the ground in remote
parts of the globe for shipment To
the United States. The bulk of the
output from the chief mines is com
ing to this country. Europe, Asa,
and Central and South America are
still further adding from tneII
boards to the stream of yellow metal
flowing in our direction. Not only
the big commercial countries, Dut
poorer countries like Syria, Soviet
Russia. Colombia. and Costa Rica.
are making their contributions. Dur
ing March gold poured into thu
United States at the rate of 5000. 600
day. Perhaps a better idea Of
what this means can be obtained
when il is shown that this represents
an average inflow II slightly moe
than $500 per second. OF the world S
total gold stocks. estimated at ST.
5s5, 200. .OV0, the United States. now
holds in round numbers $4,000. 600. %
600. or 80 per cent. The gold i'm
ports from January 1 to April 20 Of
this year amounted to a little more
than s2i9.00o,000, while the exports
were less than sS.OO0.000. Such a
mas ib buI
history except during the period i'm
mediately preceding the entrance
OF the United States into the world
war
During the Derioif OF hosti.ities
the expectation Of gold was prui:ih
tied and in the six or seven months
following the armistice our gold
stocks continued - expand, attain
irg their peak in July. 1919. when
they stood at s3.Os5. .0OO. 900 The om-
barge on exports OF gold w2S re-
moved on June Z, 1919. and this
was followed by an outward flow OF
the metal. chiefly to china, Japan
and British India, but with 4 con-
siderable shipment .1so to Latin
America. BY Mly, 1920. the gold
stocks had shrunk to s2.S4O. .00c. 600,
showing a net loss for the tea
months of $349,C0O, 900. In June
however, the &tide again turned 20
ward the United States ana each
succeeding month, with the excep-
tion of SeptemSer,, has registered a
net gain in our nold'ngs of geld.
Why Gold Comes to Us.
The pyincipal reason for this
The Washington herald., 1921-05-09

tity of American goods are in use
in thai country.
The Eject Of Gold Imports.
II is obvious that this inflow Of
gold cannot long continue at the
present rate. 1t is not desirable that
it should do so. On the whole, II
represents an unhealthy economic
condition. As our gold holdings
here accumulate the metal will tend
to become cheaper; that is. il will
lose some of it's purchasing power.
and the larger quantity may have
no greater exchange value than the
holdings possessed before their In
crement. II gold were allowed to
move freely and International trade
were back to a normal basis, such a
condition would carry its own
remedy. As soon as it appeared to
alert traders that gold would buy
more elsewhere than in the country
with a surplus they would send il TO
places where IL would buy the most
and an equilibrium would eventually
be established. Today the outflow Of
gold is impeded for the reason that
other countries are heavily in debt.
that they are embarrassed with de-
pr~Ciated cUrrencies which tend to
disrlEce specie from circulation,
that they have very little to sell US,
and that even IL they had we arc
not just now in a very active buying
mood.
The Feasibility of Imitation.
Concerning the effects of this
steadily accumulating gold upon the
future course of prices in this coun-
try. the views among bankers and
monetary experts are somewhat
divergent.
one group maintain that the sit
uation will probably produce a pc
riod of secondary initiation" with
the possibility prices-will again
register an advance that may cul
inmate in a secondary crisis"
The Washington herald., 1921-05-09
WHEAT STOCKS ARE
RAPIDLY NEARING
new Low RECORD.
Usable Supply at Present
Lowest i'm the Past, -
- -
Three Years.
TOTAL is 13, 100000 Blu.
Primary Markets Have Little,
But Farmers Holdings Are
Relatively Large.
special corTespendence Of The wsshinrtsu
Herald and the Evening Post.)

Especial correspondenee Of The wsshinrtsu
Herald and the Evening PostD
CHICAGO May S.-An acute -sito-
alton is developing in the wheat
market, and the United States is
nearer to a domestic basis than u
has been in any recent year except
1918. The visible supply OF whesLis
down to I5.tOo.ooO bushels. the
smallest at this time in thirty years.
with the exception OF 1918, when IL
was only 7S5.ooO bushels. the lowest
on record. The nearest approach TO
the present supplies was in 1915.
when stocks were 26.43s. 900 bushels
and on August ] were down c"
sSS2. 900 bushels. In 1909. which -
known TO the trade as Patten year!
the visible on MAY l was 29.s2S. .00s
bushels while on July was 1885,
600 bushels. while on August 1 IL
was 1905. 900 bushels.
After reaching the low record
level Of 7S5.0o bushels on July q,
1918. the supply increased to l7.i5s-
600 bushels thirty days later as
farmers sold their wheat freely at
the governemnt price Of s2.2s IN
Chicago for No. Northern. capped
PremIuns on Export wheat.
Chicago has less than 500, 900
bushels Of wheat with only 24.oAo
bushels Of contract in public houses.
The bulk Of the stock IS sold TO 60
but and much more could easily
have been sold the past week. as
there were orders here for export at
premiums Of IL to is cents over the
May for hard winter and 10 to IL
cents over for the soft red winter.
Recently there were seven interests
in the market each holding more
wheat than was in store in Chicago.
but several have since liduidated or
reduced their lines. Sesbosrd eN-
porters are large holders Of May
contract for both wheat and rye, ana
the market is congested.
Prices have advanced to the high
est point since March % and are
up over "a cents from the recent
low point. There are light stocks
in the Southwestern markets where
supplies have steadily decreased in
the face Of a large movement from
the country. Kansas Cty has only
500. 900 bushels, the large receipts
there OF late having been whtat
eoing through 10 the GUl: for cN-
!ort OF the l3.o"S 600 bushels N
the visible SUI ply. there ar, Sooo. 90 ,
n srels at -" seaboard and SOC .O"h
bus Eols at Buffalo. leavia.: only g.
100000 bushels at interior points
for domestic consumption.
Large HoIdInEs In Southwest.
There are larger holdings in farm
ers' hands in the Southwest than in
any other section. while in the Cen
trail West farmers appear TO have
fair stocks, especially in Ohio. which
have been coming out within the
last week. owing to the advance.
Harvest and movement OF the new
wheat in the Southwest are abou,
sixty days away. and seaboard es-
porters claim that there are $4,000
900 bushels OF wheat to 60 for *
pert this month. 50 that q VIII be
necessary to draw heavily on in
terror supplies TO I'LL the export or
ders.
The Washington herald., 1921-05-09
FOWLER PREPARES
SOLUTION FOROUR
COTTON TROUBLES
Has Simple and Practical
Plan to Aid Elk.
ports. -.
OUTLINES MEASURE
Manufacturers Report Needs
To Central Agency Which
Pools Requirements.
OUTLINES MEASURE

Al a convention Of prominent
bankers and cotton exporters meet
ing in Washington today considera-
tion will be given to an export plan
pr.oa.ed by F. B. Fowler. of this
city This plan is declared to De
simple and practical and offers a
possible solution of our present cot
'Ta dirncuIties..
As the simplest method e explain
ton. 4 j. supposed that fSe icH-
tile manufacturers of certain Eu-
rrpean Gu ntry cesire to import ~
ton under the Fowler plan
Methods Of Procedure.
The individual foreign manufac-
turing corporation or MANUFACTURER
ascertains the needs for the plant
to cover certain periods OF time
such as may be desired. These
needs, with statement as to what
use is to be made OF the raw prod
uct. /. p. actual manufacture or
speculation. and what class OF man
ufacture are reported to the proper
central agency of the government
Estate. royal or private body au-
thoriZed to act in the necessary ca
pacityO
This central agency then totals
and pools the cotton needed by the
combined manufacturers of the
country for stated periods. notify
ing each as to the cost. plus 10 per
cent. figured in New York funds.
but loaded for transport at desig-
mated American ports
Necessary Acts
(a) Upon receipt Of necessary in
formation. the manufacturer makes
formal application for the desired
an,=ur's AMI va'ue& of cottot 81
necessary periods. his .applicationto 10
be such a standard application as
my be specified by the central agen-
may be specified by the central agen-
tials to be later suggested herein.
Cb) Accompanying the applica-
ton, the manufacturer transmits the
proper commercial paper in such
decimal units. of such maturitles.
bearing an agreed interest, and OF
such amounts as necessary. These
units. being drawn payable to our
selves" are then indorsed by them
and also by three or more officers,
directors. stockholders. partners, or
co-partners. or individuals of ac-
ceptable worth or property.
(c) Accompanying the above pa
pers, the manufacturing body or
manufacturer sends a certified check
or funds for an amount equal to
. per cent or other agreed per cent
of 80 per cent of the commercial
paper executed. This percentage is
to be held by the central agency for
the joint account of the various
manufacturers, out of which to pay
necessary expenses II desired, in
terest. at an agreed rate. can be paid
by the central agency upon the idle
funds Of the joint account. such in
terest and surplus to be distributed
upon agreed peroods OF upon the
retirement of the commercial paper
The Washington herald., 1921-05-09
Steady Buying Of Eggs.

Although demand Tor eggs con-
tinues steady. receipts are so heavy
that prices are maintained with diff
ficulty. Buyers are particular in
their selections, and, as the quail
I:y of the receipts averages, unu-
suslly high, the weather having
been favorable for shipping, deal
ers ind Il easy TO meet the re-
qrirements of, tEeir customers. There
Is, however, a considerable accu-
mutation Of undergrades, which are
hard to move and have q some
what depressing effect on the gen.
eral. market. as they are being Of
fered at irregular prices.
The Washington herald., 1921-05-09
A Approximate Period
From Beginning

cation in about twenty-five. years,
or within the terms of their matur-
ity.
However, there seems to be little
Immediate prospect of any substan-
tial payment on these foreign obli-
cations and in the meantime our
own bonds will mature and must be
met. There seems to be no way out
of the difficulty except TO refund
the issues. The country is not YIN
the mood to bear the excessive bur
den of taxation which would be
necessary to meet these large
amounts.
Many schemes have been proposed
for this anticipated refunding.
Several suggestions have been made
which involve paying a variable
rate of interest determined period
ically by the Treasury with the idea
Of keeping these bonds at par. Such
scheme is probably impracticable
and would lead to undesirable
practices. The suggestion which
seems to be most favored is to re-
fund the whole amount. in long term
bonds. say forty years. with pro-
vision for the regular retirement of
a fixed portion each year. II such
a refunding Is made at present II
would require a higher rate of in
terest. probably at least S per cent
which would increase the annual
outlay of the government for this
purpose about 315o.0oo,o0o. 1t would
be unfortunate to make this re-
funding at the present time because
of the unsettled condition Of the
money market.
Any refunding arrangements
would undoubtedly include the pres
ent provision for the application of
payments on the principal Of for
eign loans to the liquidation of
these bonds. The following table
gives a statement OF the direct. OBJ
legations of foreign governments to
the United States as held by the
Treasury on January 81. 1921.
UNITED STATES GOVERNMENT
The Washington herald., 1921-05-09
Dried Fruits in Demand.

= There was an excellent demand
for California prunes this week,
both from domestic and export buy
ers, and. with spot supplies ex-
tremely light. prices were decidedly
firm. There was also a good in
uuiry for fancy apricots. which
were scarce. and some fair-sized
sales were made Of ordinary grades.
Peaches were taken more freely
than for some time past; when i'm
mediate delivery could be guaran-
teed. but there was not much change
In prices. Rxisins and currants
were In routine demand at un-
changed quotations.
The Washington herald., 1921-05-09
C0tt0nseed Oil
a Center at CHICAGO

CHICAGO, May & - More
cottonseed oil II consumed Mt
Chieage- than at any other cen
: ter. IL is used. largely BY the
. packers In mixing with lard.
Various attempts have been
made in past fears to establish
trading In cotton oil for future
delivery, and u looks rs though
there Ia q certainty Of starting
operations within q short time.
Rsles and regulations have been
prepared by special comnittees
and snbmitted to the Board of
Trade directors. when adopted
they will he submitted to the
membership for approval by bal
lot. Ample storage room for cot
ton oil has already been ar
ranged. = 90
The Washington herald., 1921-05-09
BANK CLEARINGS.

~ decided narrowing of the mar
gin of decrease In bank clearings
appears in last weeks returns.
Thus, total clearings at twenty
cities in the United States, as re-
ported to Dun's Review. reach ss.-
5s4.644.sS4. or 1877 per cent. less
than the sS.lo7,sss.412 Of the same
period of 1920. The previous week,
however. the reduction was 2s.S
per cent. Augmented activity In
the stock market partly accounts
for the better showing at New York
City, which reports clearings 17.6
per cent. smaller than those of a
year ago, against a falling off of
$40 per cent. last week. At points
outside the metropolis. the clear
ings are 204 per cent. below the
figures of this week of 1890, but the
decrease the previous week was
26.l per cent. Only at Los Angeles,
where there IS an increase of 16.2
per cent, were last weeks clear
ings in excess of last years. and
declines of 80 per cent. or more in
each instance are disclosed at At
lanta. Kansas City. Omaha and
Seattle. Last week. on the other
hand, eight cities reported reduc-
tions of 30 per cent or more in each
case. when comparison is made
with the 1919 totals. It is seen tina,
this weeks clearings at all centers
included in the statement show a
gain of "a per cent, but the daily
average for May to date is o.3 per
cent smaller than that of the cor
responding period two years ago.
Average daily bank clearings for
the year to date. and for the three
Immediately preceding months. are
compared herewith for three years:
The Washington herald., 1921-05-09

covering the transaction necessitat-
ing the expense fund.
Id The formal application for an
allotment of quota of cotton
should contain the agreement of the
applicant to bear the proportionare
loss incident to any default by any
co-member OF the number of manu-
facturers participating in the allot-
ment of cotton, an agreement that
the cotton is for actual manufac.
ture. and such, other points and con-
dition "a may, be agreed upon. Such
applications should be sworn to and
properly witnessed to strengthen
the statement relative to proposed
uses OF the cotton.
Security Back Of Bonds.
Particular emphasis is laid upon
the security back OF the propoSed
cotton bonds. These are listed as
follows:
General assets and credit of man
ufacturers-
Financial and property assets OF
indorsers.
.Proportionate liability of all man
ufacturing members for the liabili-
ties of defaulting contender.
Ten per cent excess in value of
notes executed over the value of
the proposed cotton bonds issued.
Proposed cotton bonds to be direct
obligation of the foreign govern
ment or central agency.
Manufactured value of goods made
from the purchased cotton, the value
being represented by accounts re-
.ceivable due the manufacturers.
Under methods of procedure" II
will be noted that the manufacturer
executes paper to an amount of 10
per cent in excess of. the cost of
the cotton in American funds.
The Washington herald., 1921-05-09
Widow Loses Topeka Estate.

TOPEKA, Kans.. May S.-Sarah T..
Burns, widow of John T. Burns.
has been denied a share in her late
husbands $4,000 estate by the
Supreme Court because she had
signed a prenuptial contract.
The Washington herald., 1921-05-09
DRY GOODS MARKET.

OF the 10000 pieces of print
cloth yarn sold at Fall River last
week, nearly all were odd widths
and constructions. principally under
36 inches. Manufacturers are much
firmer in their. price ideas.
The Washington herald., 1921-05-09
REFUNDNG OFWAR DEBT
WILL HAVE TO BE MET SOON
Nearly So, ,OOO, 900, 900 Mature in Next Years.
No Immediate Help from Foreign Obligations.
,ny The wn.hfnrten Her.id,. Eesn.nistD' "


United
and some
Il
The Washington herald., 1921-05-09
TotaI, ,s2l,432,s5s,s 500
s2.oO1.s34.s5o sls.431,5so,75


OF his becom a ' ~ ' '
-- ..,. ApsMgosi%sts M % Period