davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1921-06-02
FIRST INVESTMENT MOST
IMPORTANT.

w. LII have been a constant
reader OF your Investors Depart
ment, and must commend you for
the practical and impartial service
rendered to the people who wish to
invest securely.
/ have a small jobbing business
of my own. and from the profits
therefrom feel that can afford TO
invest $1,000. I am considering the
purchase of ten shares OF Industrial
Extension Institute. What is your
opinion?
/ am twenty-three years of age
and this Is my FIRST investment, and
I shall be guided by what you sayH
Answer-Then we do not think that
you will invest your money in this
stock; as we do not recommend II, II
not being a standard or seasoned In
vostmsnt in any sense of the word. A
mans hrst investment Is his most
important one. and he should lay his
foundation securely.
The highest-grade corporation bond
is none too good for your first invest
ment-and as a matter of fact the
highest grade securities should serve
as your future Investments.
The time inevitably comes In the
experience of every business man
when he finds II necessary TO raise
money quickly. and II his surplus
funds are Invested in standard
stocks and bonds he can always ef-
feet loans from a bank or he can sell
same without loss of time.
We suggest that you buy q 81 900
Northern PaciAc Great Northern Joint
81 per cent bond for your frst in
vestment
So far as convertibility goes, this
bond is as good as cash. Any BANK
will loan on II.
Banks like to have their young Gus
toners show sagacity in making in
vestments of surplus funds, and II
you are able to show a Washington
bank official tnst you own even so
much as one high h-grade bond he will
have a good opinion of you.
IL your business grows apace and
subsequently, develops into a big
thing, as we hope, you can then af-
ford to take on an Investment expert
ment now and then. but you cannot
AFFORD to do IL now.
The Washington times., 1921-06-02
CRACKER MEN TO LAUNCH
BIG ADVERTISING DRIVE

ATLANTIC CITY, June 2.-The Bis
cult and Cracker Manufacturers AS
sociation yesterday expressed itself in
favor of a great national advertising
campaign.
The hrst campaign will call for an
outlay of 100000, which Is TO be con-
tributed by an assessment upon ovens.
Rowe stewart, OF Philadelphia. told
the delegates that II the educational ]
drive would promote the consum ption
of crackers by three per capita in the
United States and Canada, the demand
would equal III 900. 900, 900 pounds
annually at a sales value of s22,-
900, 900
The Washington times., 1921-06-02
e. WASH. BANK ELECTION.

At the annual meeting OF the share
holders of the East Washington Saw
ings Bank, held yesterday, the fol-
lowing fifteen trustees were elected
to serve for the ensuing year: Johr
c. w. Besll, Albert Carry. Gratis e.
Dunkham. Lewis Flemer, John Ford,
w. p. @. Hszen, Michael A. Lynch
William A. Lynch, Charles A. McCar.
thy. Henry II. Mckee. Morris f. Mar
low. William N. Payne, jr.. Samuel
II, Walker, Lewes d. Wilson, and John
c. Yost.
Officers will be elected at the first
meeting OF the new board, June IA.
The Washington times., 1921-06-02
PLAN TO OENLARGE
HISTORIC HOME Of
OLDEST RESIDENTS
RemodeIed Structure Of Union
Engine House Will Entail Ex-
penditure of 100000.

The number of Oldest Inhabitants
10 increasing.
Enlargement of the clubhouse, In
the historic Union engine house, Nine
teenth and G. streets northwest, 10
urgently needed. At a meeting of the
Association of Oldest Inhabitants last
night $4,000 was subscribed to the
building fund and several members
announced that they would bequeath
$1,000 each in their Wills for the bene-
Mt of the youngsters" of sixty or so
who will soon be eligible for member
ship.
improvements whose costs may
total as high as 800, 900. will not.
however, change in any way the
historic headquarters built in 1895.
The association was last night
presented a photograph OF the win
ter headquarters of the 13sth New
YORK infantry, encsmped at Bright
wood In 1853, the gift OF John C.
Proctor.
Resolutions of regret were adopt
ed on the death of DR.. Henry c.
thompson, Commodore Higg. u. s.
~. retired, and Gustav oppenhsimer.
members of the association.
The Washington times., 1921-06-02
FEW SALES, LOW RATES,
CAUSE u. s. SHIP SLUMP

High operating costs. diminished
carsoes, and low rates, are the un-
derlying causes of stasnant condi-
tions in American shipping. accord
ing to reports Of Federal Reservs
Board agents.
, Until there IL q world demand for
larger supplies of American products,
the board sees no prospect OF early
Improvement In the present ship
idlenesa
British demand for American coal.
as result of the coal miners
strike In Great Britain, attracted
some American ships to that trade.
the board said. and had the effect
of stopping temporarily, at least.
the plans of shipowners for placing
thier vessels In the hands of caro-
taksrA
The Washington times., 1921-06-02
RAILROAD WAGE outs.

NEW YORK. June wall Street
Is not over-pleased with the IL per
cent railway wage reduction.
On Tuesday brokers and traders ex-
pected a cut of from 10 to Is per
cent. and rejoiced over the prospec-
tive saving for the roads and higher
prices for stocks.
Tuesdays trading was the dullest
on record, and as tho quietude con-
tinued a good part OF yesterday,
pessimism filled the air. The ex-
pectations of a 10 to 10 per cent cut
were forgotten. and all that was re-
membered was the hope expressed by
railroad magnates a month or so ago
for a 20 per cent cut.
disappointment was intensified by
the statements issued by some rail-
road executives disapproving of the
award.
The ~ per cent cut will mean a
saving OF 100000, 900 to the roads,
but many traders do not forget that
II means a similar reduction In the
purchasing power of large class of
workers And the market reflects
this feeling.
The Washington times., 1921-06-02
:. S. KEMP INJURED WHEN
MACHINE HITS CYCLE

While riding his motorcycle at
sixth and I streets northwest this
morning, Edwin s. Kemp. twenty
nye years old, a steamfitter living at
liis street northeast. was thrown
from the machine when Il colllded
with an automobile. He suffered
conclusion OF the brain. Physicians
at the institution said he may re-
cover.
Charles +. Mllligan. of Potomac.
Va, operator OF the automobile. Is
being held temporarily, at the sew
enth precinct, pending the outcome
Of the mans Injuries.
The Washington times., 1921-06-02
CORPORATIONS ARE CALLoUs.

A great many corporations today
are quite callous concerning the
feelings OF labor.
Such corporations think that the
present is an ideal time to shave 1T
out" with labor. They are not dis
posed to shrink from taking drastic
action. even should strike result, as
they feel that they could "lick" the
workers under existing conditions.
Doubtless executives who feel this
way would have preferred much
more severe reduction In railway
wages even had strikes been thereby
precipitated.
After all, however, II Is incalcul-
ably important to have satisfied
rather than discontented workers.
II the Railroad Labor Boards de-
cision has the effect of convincing
the employees that their interests are
properly safeguarded under the new
laws now in operation and now under
trial. an extremely desirable result
will have been accomplished, a re-
suit. indeed, of more far-reaching
effect than can be readily sauGed.
SO much for the decision from the
la Dor standpoint.
The Washington times., 1921-06-02

pany yesterday afternoon in New
York, 1t was announced that action
on the quarterly dividend of IN per
cent on. the preferred stock, due
July I. had been deferred.
In connection with this action, one
of the executive officers said: IN
view of the present business condi-
tions which are affecting the opera
tions of this company in common
with practically all other lines OF in
dustry. the directors deferred the
quarterly dividend on the preferred
stock"
The Washington times., 1921-06-02
Proposes New Amendment.

Appointment by state executives
OF Representatives to MI unexpired
terms ls authorized In a constitu-
tional amendment proposed In a
resoSItion introduced yesterday by
Representative Appleby. Republican.
New Jersey.
The Washington times., 1921-06-02
GovERNMENr COINAGE.

Coinage executed at United States
mints during May follows: Standard
silver dollars, 7.esooo0. value $780,
900: scent nickels. 1.s27.000 pieces,
value &s1,360. No gold was coined.
The total silver coined to May 81
1921, under Pittman act. amounted
to S1f396,000. r..
The Washington times., 1921-06-02
USINESS AND FIN A N C E
Conditions in Europe Better
Lamont Says

Thomas w. Lamont of j. p Morgan Company,
turning from Europe today declared that conditions
distinctly on the mend there.
He said that in England the coal strike has been
heavy burden to bear but that the attitude of the people
has been patient and cam and there every expeca-
ton when he sailed that early settlement of the strike
would be reached.
"On the Continent" he said STEADY progress in in
dusry and agriculture under way France Italy and
Belgium have all made great strides this last year,
AS to political conditions much has been said from
time to time as to frances uncompromSng attitude the
subject of reparaons, etc; but ! want to say that the
members of her government and of affairs generally
impressed as moderate and reasonable in their views
~ expect to see such difficult situations as still exist
gradually adjusted
"The fact that the United States Government is now
represented in the councils of the allies in their measures to
establish permanent peats and tranquility has been very
hearenng to all Europe and is distinct factor of hope in
the situation"
The Washington times., 1921-06-02
CUBA CANE SUGAR pRErHmRnD.

Interests in close touch with the
Cuba Cans Sugar Corporation expect
that the regular quarterly preferred
dividend will be declared when the
directors meet on Friday.
They point out that the corporation
is very low-cost produoer and
state that earnings for the frst fivs
months while not up TO last years
high record, were very satisfactory.
At the close of 1920 the company
was in a strong financial position.
and earnings are understood to be
more than sufficient for preferred
dividend requirements.
The Washington times., 1921-06-02
RAIL PAYMENTS.

The Interstate Commerce Commits
sion has certified to the Secretary of
the Treasury the payment of $4,000
to the Rockingham. North Carolina,
Railroad Company; 100000 to the
Indiana Harbor Belt Railroad Com
pany. under section 400 of the trans
rortation act.
The Washington times., 1921-06-02
|FINAN ID
- AND
BUSINESS
ny B. G. FORBES.

Railroads asked for wage reduc-
tions aggregating about $soo.ooo.o 900.
The reductions announced by the
Railroad Labor Board will aggregate
about 100000, 900.
In this workaday world II we get
half what we hope for we have reAL
son for feeling satisfied.
Railway executives publicly ex-
pressed keen disappointment over the
mildness OF tho cut.
Railway labor leaders are saying
little, but they are understood to be
well pleased with the decision.
The Washington times., 1921-06-02
American Telephone & Telegraph Co
Is7th DIVIDEND.

A quarterly dividend of Two Dollars and
Twenty-Five Cents per share will be paid
on Friday, July is. 1891. to stockholders
Of record at the close of business on Mon-
day, June 20. 1871.
II. BLAIR-sMITH. Treasurer.
The Washington times., 1921-06-02
sTUDEBAKER PRICES REDUCED.

Studebaker announces an Immediate
cut in prices. This was natural The
only surprise is that II was not an
nounced simultaneously with the
Buick reduction.
The financial district. as stated in
this column, knew last week that the
Buick cut was to come on Sunday.
Therefore, some of those interested
in the Studebaker management must
also have known of IL.
The reduction by Studebsker win no
doubt be made effective on orders
placed some time ago on which de-
liveries have not yet been made. The
lower price will enable the company
to take advantage of the good de-
mand IL is now enjoying.
II Il had not cut prices, the Buick
doubtless would have made inroads
on it's business. Now, however. Il can
enjoy prosperity while the business
lasts. Fsrsighted traders do not be-
lieve the motor war is ended.
During the summer Il is probable
that the existing prices will be main
.tained, but in the fall a different story
may be told.
The Washington times., 1921-06-02
RAILROAD RATE CUTS.

Now that the Railroad Labor Board
has granted the request of the eIecu-
tives for lower wages. the demand for
lower freight and passenger rat es will
become more insistent.
One of the principal arguments of
the roads in requesting the last ad-
vance was the wage question.
A reduction in rates would not
affect earnings as much as many
folks are apt to think. as it would
mean the turning back OF a large
volume OF freight to the roads which
is now being transported over water
ways and by motor trucks.
The Washington times., 1921-06-02
Dies of Bullet at %.

ATLANTIC CITY, June 1--willIsm
Warnock, ninety-two, retired Phils-
delphia business man. who shot him
self May i6. died at the waxHoner
Hospital here last night.
The Washington times., 1921-06-02
Wage Reduction Will
Reach Tuo Million Men
ADVANCING
WASHINGTON'S INTERESTS

Two million will eventually be affected by the wage
Just announced by the Railroad Labor Board accord
ing to the latest adviceS Washington financial circles The
general average decrease placed cent compared
with an average of Fl per cent increase last July.
In supplemental memorandum Just at hand here, the
board points that during Government control the wages
railway employees increased from average of s78
month in December 1917 January 1920 and to
by the increase of last July About 10 cent of the
railway employees chiefly those unsked the board sad had
thus received increases approxmang per cent while the
average increase the pay prior to Federal control 81
per cent '"
The board estimates the present cut would ''an av
erage monthly salary of about s25 for all employees but such
an average means of course that while workers would
considerably of this many thousands would
fall short of that figure"
clas of as Tasty
The Washington times., 1921-06-02
s4oo,ooo, ooo REDUCTION.

reduction of 100000 900 a year
in wage schedules is not to be de-
spised by the railroads.
Such a shrinkage in expenditure
VIII really mean a very great deal to
the railroads. II the ruling 10 hailed
with satisfaction by the rank and fle
OF railroad employees, and stimulates
them to put forth whole-hearted ef-
forts to raise the railroads from their
slough Of depression and despond-
ency, II will bring about far greater
savink than the sum calculated
An enterprising brokerage hrm
has had it's expert statisticians figure
out how much the IL per cent general
reduction would equal on the earnings
per share OF the common stock of the
principal railroads, and here is the
rather astonishing finding:
The Washington times., 1921-06-02
Coal Prices Up 10 Cents.

HAZLETON, Pa. June Am sd-
vance OF 10 cents a ton In the prices
OF all sizes OF coal except buckwheat,
rice and barley. was announced by
the Lehish Valley Coal Company, eff
fective today.
The Washington times., 1921-06-02
ARE THEY ACCURATEf

If these calculations are within
sight of being accurate, railway Sc
curity holders have reason for feel
ing distinctly. encouraged. Every
other item OF railway expense is also
tending downward-coal, oil, timber,
locomotives, cars, repairs, office sup
plies, etc. And taxes ought to be-
come less burdensome.
Moreover, the formation and adop-
tion of working conditions reasonably
satisfactory to both management and
men should bring about the conserva-
tion of a very substantial amount per
annum.
The tendency has been TO Judge the
transportation situation solely by the
conditions recently ruling. This is
short-sighted, unjustihed.
Were one to Judge other Industries
by Che conditions which have ruled
during the last six months, pessimism
would be infinitely bluer than IT has
been.
Because, for example, many steel
companies, rubber companies, automo-
bile companies. leather companies,
copper companies, commodity com
panies. etc, have either passed or re-
duced their dividends, IT has not been
assumed that these companies will
remain harsssed or PROSTATE. forever
and a day.
Every sensible person reasons that
Improvement in general conditions
will bring improvement in these in
dustries.
There is absolutely no cause for ap-
plying any different reasoning to the
transportation industry.
t,x.
cannot fail to bring improvement to
the railroads. Their earnings have
suffered, just as me earnings OF most
other companies have suffered, be-
cause of a severe drop in tho amount
of business handled.
When the amount of business
handled increases. the earnings of the
railroads are sure to increase.
Instead of becoming prophets OF
disaster, II will be wise for our rail-
way operators to face the outlook
with courage, and determine to make
the best of IT.
II they adopt tnfs course and fol-
low II to the fullest extent of their
ability, they stand far more chance
of winning public approval and pub
lie support. Then, II II should un-
fortunately be demonstrated con-
vincingly that further relief must be
granted, there Is little doubt that
the regulatory authorities would
adopt a rational attitude.
My own opinion Is that distinctly
brighter days are in store for our
railroads II everyone connected with
them will now cease expressing de-
spair and set to work with a will
to rebuild prosperity.
The lowering of some rates will
help, not hurt, the railroads No
general reduction in rates is within
sight.
Copyright, 1871, by n. C Forb.s).
The Washington times., 1921-06-02
AND sIMMs PETROLEUM.

ested In American international Cor
poration and which was responsible
for the advance In Simms Petroleum
lust prior to the publication Of its an
The Washington times., 1921-06-02
COL. GRAPHIC. DEFERs pIy.

Following the meeting of the
board of directors of Columbia
'Graphophone Manufacturing Com
The Washington times., 1921-06-02
Wall Street GOSSIP

nual report is understood to be again
quietly picking up the stock.
1t is stated that tho purchases are
largely to bring the initial holdings
OF A. I. c. down to a more favorable
average. Simms has just brought In
drilled that should come in shortly
FRENCH LOAN STILL GOING.
J. p. Morgan Co. has notified appii-
cants for the 500, ,0O0, 900 French
bonds that allotments will be made
on subscriptions received up TO noon
today. 1t is added that the subscrip-
tion books will not necessarily be
closed simultaneously.
The loan did not go over the top
as rapidly as many belived II would
This was due largely to the pessi-
mism created by the continued dull
ness in the stock market.
In order that the French bonds may
be properly passed along to the in
vestinE public this apathy will have
to be banished.
Bankers have recently been holding
mysterious sessions, which lead some
traders to expect the administration
of respiration methods by the fnan-
oial powers In the near future.
The refunding OF the Liberty bonds
and the allied debt will need more
good feeling and prosperity through
out the country In order to be sue
cessful.
Therefore bankers must proceed
slowly. but surely. When these gi-
gantic financial operations are
launched, traders can look for ris-
ing security prices. When tho ven
ture is terminated. however. things
may change.
The Washington times., 1921-06-02
Investors
Service

The Washington Times will be
glad to answer for Its readers
inquiries about investments In
stocks and bonds. II will give
the best available information
from tho most authoritative
sources. This service is entirely
Without charge. and all letters
will be held in strictest conn
dence. Every inquiry must con-
tain name and address OF the
writer and a 2-cent stamp for
the reply. II the inquiry IL of
general interest II will be an
swered In the Daily or Sunday
Times. Address
INVESTORS INFORMATION
SERVICE
The Washington Times Finan-
cial Department. Munsey Build
ing. Washington. d. c.
The Washington times., 1921-06-02

New York Clearing House.
NEW YORK, June 2-CIearing house
statement:
Exchanges, sse,s2b.137. Balance,
&72.lbs,oo2. Federal reserve bank
credit balance, S5S,6O4,1s5.
Evening star., 1921-02-22
OFFICERS FIND BIRDS
IN STUBBORN CONTEST
Raid on Cockpit Results in Arrest
of Alleged Manager-Spec-
tators to Testify.

Surrounded by members of the
sporting set of Prince Georges county,
former saloonkeepers and a county
constable. two game cocks were put
ting up stubborn fight Sunday
afternoon in the home of Robert l..
Markley. Pierce avenue, RiverdaIe,
when Sheriff Eli S. Harrison and sew
eral deputies raided the house.
Markley was arrested on charges of
keeping disorderly house and
cruelty to animals. while the specta-
tors were held as witnesses He was
released upon depOsting $500 collat-
eral with Justice of the Peace Her
bert J. Moffatt for his appearance be-
fore him Friday evening. Thirty war
rants for the appearance of the wit
nesses at the hearing will be issued
today.
The raid also resulted in the taking
of forty game chickens. in addition
to the two battle Scared cocks from
Markley's home. it is said. The game
fowls will be used as evidence against
Markley.
The county constable who was
taken in the raid as a witness is said
to be Frank p. Herd. In addition to
Sheriff Harrison, those in the raiding
party were Deputy Sheriffs William
H. Tobin and Constable Thomas H.
Wildman
Evening star., 1921-02-22
D. c. APPROPRIATION BILL
JOY FOR CITIZENS BODIES
Carries No Funds for Purchase of
City Trash Plant
Site

The District appropriation bill, as
finally passed by Congress. does not
carry funds for the purchase of site
for a proposed city trash plant. as
phalt plant and municipal stables.
Failure of Congress to appropriate
for such a site is being received with
qualification by members of the North
Capitol. lexington and t he Central
Citizens associations. which feared
the Comm issoners intended to place
these activities in their vicinity.
Both these associ atoms made a
strenuous fight against the location
of these plants on vacant ground near
the intersection of New York and
Florida avenues northeast.
The engroSsed copy of the District
bill was sent to the District building
yesterday by the President for final ap-
proval. The city heads returned it to
the White House Immediately and it
probably will be signed this week
The contract under which the Com
m sSioners are using the private trash
plant near BiadensbuTg road expires
in June. 1t will be necessary either
to tndeavor to rent the plant from
its owners for the ensuing fiscal year,
abandon municipal operation of the
trash service and return to the old
contract system.
Evening star., 1921-02-22
100000 ESTATE is STAKE
Mrs. Siccardi's Relatives Saw Mrs.

jury in the Probate Court before
!ustice Bailey is hearing testimony
whether Mrs. Laura S. Slayen is on
TITLED TO administer the $50. 900 estate
left by Mrs. Mary A. Siccardi
Thirteen relatives of the deceased
from New YORK are claiming that
MRS; Siaven was taken INTO the Sic
cardl household when three years old
and was never legally adopted by the
DEAD woman. Mrs. Slaven claims to
be the natural daughter of the de-
ceased.
Attorneys J. NJ. Loughran. Clinton
Roob and Mark Stearman represent
the contestants, while the daughter
is represented by Attorneys HAYDEN
johnson and Charles f. Carusi.
Evening star., 1921-02-22
GIVE CANE TO PRESIDENT.
Is of Hickory Wood and Hand
Carved by Veteran.

Presentation of hand carved cane
of Alabama hickory wood was made
to President Wilson yesterday after
noon by Representative Steagall of
Alabama on behalf of the women of
the Memorial Education Association
of Clayton, Ala.
The carving embodied the Confed-
crate flag as we'll as the national
flag and various figures and was
done entirely with penknife by
A. S. Border of Clayton. Confederate
veteran seventy-eight years old,
Evening star., 1921-02-22
Wants IL French NarshuIS.

IARfS.-Elamin Raibcrti. former
minister of war. deposited a bill in
the chamber of deputies amending the
law of 1Ni9 so as 10 increase the
nuinb Der of marShaiS of France in
peace time from six to twelve
There are at present six marshals
of France three of whom were an
pointed last week. Gems. Fayolle.
Franchet Espery and Lyautry. The
three others are MarShalS Foch, Pc
tain and .Ioffre