davidaulloa/AmericanStories huggingface dataset:
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
FIGURING BOND YIELDS.

What Of the investment will bond
question Graduate from
this class by clipping using reference when the
bond salesman approaches. -v--- ~ .--.
The return bond depends three factors: rate
OF interest and security bears the market distance
of maturity The yield by yield tables
issued by banker but the approximate yield reached
a follows:
Divide the closing quotation bond into the of
and the result will be the annual II the
selling below par you allow also for the appreciation Of
the principal To do this the market
and divide the number bond
has to to maturity For example, II per bond
selling and has the annual
900 The difference between and the price
will be points, subactng from Dividing
the quoen This figure to 666
which the annual and the result 1885, will give
approximate yield.
If the quotation par, allow for depreciation Sub
tract from the quotation divide before of years
maturity quoenf the return For
example: ten-year bond selling yields
approximately annual but of
only when redeemed
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
Bonds Irregular, With
Numerous Large Losses

NEW YORK. Dec. 1.-The bond
market presented an irregular ap-
pearance, with numerous good-sized
losses extending pretty well over the
list and some issues to advance. but
the market on the whole suffered
from considerable profit-taking, which
was particularly in evidence in the
railroad group.
Government war bonds were steady
and some further gains we're made,
but there were also some recessions.
Victory AIS again sold at par at
one time, but subsequently fell back
to a level slightly below yesterdays
closing. while the Liberty 3ks were
heavy throughout Foreign bonds
were inclined to be soft, especially
ME French government issues, which
were down from Y to 1is points.
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
PHILADELPHIA PRODUCE.

PHILADELPHIA, Dec. /. - Live
Poultry-Fowls, not Leghorns. fan
cy, fat yellow skinned, Weighing s
pounds each or over, 18a3oc; medi-
UNI quality. z4a2sc; inferior. 2oa23c.
Fowls. White LeShsrns, 2oa2sc:
Spring ohickens, fancy. yellow
skinned. Plymouth Rock. Weighing
pounds each or over, 24a26s; ex-
ceptional lots higher. Spring Chick
ems, not Leghorns. medium quality.
zoa11c. Spring chickens, not Leg
horns, inferior. lsa1sc.S Spring
chickens, Leghorns. 1ss22c. Old
ROSTERS, 17a1sc. Turkeys. fancy,
45c; do, fair TO good, 4oa4sc. Ducks,
White Peklns. 25a56c: do, mixed
coiors, .aaaIc; do. Muscovy. Isa2o.
Geese, 23a2bc. Guiness, young, per
apiece, $1.sos1.so; Weighing / and
III pounds apiece. S1.0oa1.2S.
Guineas, old. per pair. S5aSSc-
Pigeons. per pair, old. 35a4oc:
young. Csc.
ButterFresh. solid packed cream
cry. fancy, high scoring goods, 47h
a4sizc. the latter for 3obbing sales:
extra, 4shc; extra nrsts. 4sha
4kc; frsts. 35a3sc; seconds, 3za
SAC; sweet creamery, choice to fan
cy. 4saa5ohc: fair TO good, 39ka
Fhs: ladle packed, as to quality.
3oa34c: packing stock. 2sa5oc. Fam
cy brands of prints were jobbing at
ssaS1c: fair to choice. 57a5sc.
Eggs-Nearby extra irsts, CSC;
do. hrsts, SIC; do. seconds, 47as.c;
Western extra firsts. 66as7c: do.
firsts, s2as5c: seconds. 47as2c; infe-
rior lots lower; fancy. carefully Sc
lected candled eggs were Jobbing al
s0a81c and fair to good at 7ia7sc-
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02

BALTIMORE PRODUCE.

BALTIMORE. Dec. 1.-Butter-
FANCY creamery. 47a48c; choice
creamery 44a4sc; good creamery,
ioa4lc; creamery prints. 4sasoc;
blocks. 44a4sc: nearby creamery.
4oa43c; ladle. 30a32c: Maryland and
Pennsylvania rolls. 2Sa3oc; Ohio
rolls. 2sa3oc; West Virginia rolls.
2sa3oc: store packed. 2sc: Mary
land, Virginia and Pennsyivanta
dairy prints, 2sasoc; process butter.
s5a30c.
Eggs-Maryland and Pennsyl-
vania and nearby Arsts, seaslc;
Western high-grade. soc; Western
average receipts. 58aSse; West Wiz
ginia, ssa5sc: Southern, SSc.j
Live Poultry-Turkeys. ytung.
pounds and over. <Sasoc; do. old.
%5a5oc; do. poor. and crooked
breast. 3ta4ec. Chickens. old hens.
pounds and over. 2Sa2sc; medium.
8 to 4 pounds. 3sa3<e; smaller, Zoe:
white LAghorns. aloe: old roost-
ers. 14a1sc; springsrs. large. smooth
fat. Sc; small to medium. zee:
white LsShorns. ate; rough. poor
and thin, zoe. Geese, nearby. fat,
s4aa5e; Western, 21a23c; Kent Is
land. 27a2sc. Ducks, Muscovy and
mongrel, young, 2oa21c: white
Pekins. young. 24a2sc: puddle.
young, 33a24c.
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
Conflicting NelDs Brings
Unsettled Cotton Mart

NEW YORK, Dec. There were
numerous conflicting developments in
the outside news bearing on the cot
ton markets today. This caused a
very unsettled tone, with mixed trad
ing and sharp fluctuations. The Lfv-
erpool market was sharply lower than
due and there was a good deal of
comment on the renewed Irish crises
having an unsettling influence on SEN
timent at Liverpool and Manchester
Against this, however. was the sharp
rise to new high records in ster-
ling exchange. with cable rates 60
ing up to s4,o5A. and demand to
s4.O4L.
The market started with a de-
cline Of about 10 to Is points, but
turned firm and made a good rally
OF 10 to 20 points in the later months
from yesterdays closing quotations
from considerable buying of March.
May and July by longs who con-
tinued to liquidate in December and
January. The latter months were
forced down during the late after
noon to 40 and 43 points from their
closing prices OF yesterday on a con-
tinuance of this selling. while March,
May and July went of to but is
and 10 points, respectively.
In this decline. December con-
tracts went Off to 17.s5. against 1920
Z Tor January. while March sold at
l717: May. 1891; and next July de-
liveries at about 1915. Most OF the
buying during the way outside of
llquidating longs in the near months
replacing their interest with fate
months. camS from scattering local
trade and Wall Street commission
houses taking cotton on the scale
down. Export olearances posted I'D
ta O'Clock were $4,000 bales, in
Guiding $4,000 bales from Houston to
the continent.
New York Cotton Exchanre'0
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
DUTCH MARKET
BUYS BIG STEERS

One Of the products of the In
ternational Livestock show at Chi
cago, a load of price winning steers.
was quickly snapped up by ]. A.
Whitfield, president Of the Old Dutch
Market Company. and the Sullivan
Packing Company. of Detroit. Mich.
Whitford, who attended the show
in the interest of the company, stat
ed that each will weigh approximate
ly 1900 pounds. The purchase price
Of 40 cents per pound for the steers
makes the cost of each more than
$500.
These cattle were awarded the
highest prize. They will be exhib-
tied in Washington. Baltimore. Rich
mond and Frederick. After their
slaughter by the J. A. Whitfield Com
pany, the meat will be disposed Of
through the Old Dutch Markets.
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
PRODUCE MARKETS
CHICAGO LIVESTOCK.

CHICAGO. Dec. l.-Prf~I
steers. 3s.eoae.St; good to eAescl
heavy steers. ss.esas SO; fair Il
good stssrs, st.eeaSst; ysayfss ~
fair TO choice, ss.soaiI..t; fse<is]
steers. sS.eeasSs; hsifera. Ss.eeat.71
heavy calves. s3.eoa7.te; rood 3
choice calves. ss-SeaIese.
Hogs-Cboics light butchers, 81
7easse; medium weight butehsrI
Se.ssat-st; heavy butchers. SS.xS]
ESQ; fair TO fancy light, ssbs.7l
10: hsavy packing. SSfSassa
rough packing. saeosGss; piel 81
fSa73s.
Sheep-Good TO ehoies lanAs a.
eeals.Se; feeding iamba, sf.soas,lS
Gull lambs. 3s.eeas-3s; yssriinr,. 81
sess.7S; vsthsrs. ssftaITI; eve
t1.eeaS.ee.
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
WASHINGTON PRODUCE.

EgGs-strictiy fresh. Sc: aver
age receipts. ssc; Southern. &c.
Live Pouitry-Roostefs, ID. lie;
turkeys, h., 4sa4Sc; chickens,
spring. h.. 17a2sc; hens, IL. aSa2sc;
keats, young, eoa67c; dressed fowls.
Csc; fresh killed chickens ID. asa
soc; turkeys, h.. 4sasoc; keats,
young. each. ss-s7Sc; guinea hens,
sse.
Livestock-Calves. ID, IzaIihc;
lambs. choice, shc; hogs. &c.
Game-Rabbits. No. /, per dos,
rss.5oa4.os; No. .. s1.Soaaos.
Fruits AND VEGETABLE.
COMPILED BY the U. Q. Bsreas Of
Markets and Crsp Es'tDstes.)
sales frs1 wAsiesaiers direct 10
RetafIers-
Apples: Barrels. virginfls a-d
West virginias, York Imperials, No.
ss.0oa8zs. poorer. s7.oos7.5o. New
Yorks, Baldvins. No. /, s75oat0o.
Nova scotias. Tompkins Kings. No.
/, 37.00aS.oo, mostly $3.50. some
wasty poor condition. s5.ooasoo, No.
2. ss.seas.75. Names, Baldwins. No.
/, s7.ooa7.So, No. 2. showing waste,
IS. ooa5.6e. Boxes. Washington, De-
licious, extra fancy, large sizes,
S425aI.5o Spitzenburgs. c grade.
medium sizes, s2.5oa2.75; yonathans.
extra fancy. medium Sizes. s2.soa
z7B; fancy and c grade. small sizes,
g. 2saaSe; faced and filled. si.so.
Oregons, spitzenburgs, extra fancy.
medium to large sizes. S3.eos3.So; c
grade, medium sizes, 32.5oai.75. Blu
shell baskets, New Yorks. various
varieties. some ordinary condition.
s1.5oa25o.
Cabbage-New Yorks, bulk per
cwt. Danish and Domestic. round
type, s25oa3.oo. mostly $500.
Onions-Ohios and Indisnas 100
ID. sacks, yellow varieties, No. /,
best s5.5oa6.oo. some wasty, $500.
White. Potstoes-New Yorks 15o-
Id. sacks, round whites No. 1, s3.5oa
$50, few sales f3.75.
Sweet Potatoes - Virginia and
North Carolinas. cloth top Stat and
stave barrels. yellow varieties. No.
/. mostly s3.5o. few sales $500.
Lettuce: CALIFORNIA;. crates. fee
bers. $3.50. Virginias, 5-peck ham
pers. head lettuce, fair condition,
Local. so. New Yorks. crates. head
lettuce. fair condition, sl.0oa1.75.
Celery-New Works, punches, all
sizes, 5oae0c.
Oranges Floridas. pineapples,
small sizes. s450a5.75.
Caulinower CALIFORNIA;, crates
all sizes. sl.00a3.5o.
Grapefruit Floridss, boxes,
large sizes, S325s275.
String Beans-Floridas. bushel
hampers. fair condition. sl.OOa250.
Cranberries: Barrels. $500.
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
TEELPRODUCERS
OPTIMISTIC OVER
1922 PROSPECTS
Heavy Buying Expected
Right After Inventory
Season
STOCKS NOW LOW
More Building and Cut in
Freight Rates Generally
Expected.
STOCKS NOW LOW

NEW YORK, Dec. AFTER the
worst depression the steel trade has
ever seen. il seems at present that.
at least after the first two months
Of 1922. a demand for steel products
will develop which will compare
favorably with some of the best
years in the industry.
1t is likely. however. that the de-
mand will be most urgent in the
lighter products such as sheets,
lar goods, whereas during the
boom period OF the war the heavy
rolled products. particularly plates,
were most active.
At the beginning of the new year
stocks will be very low, as with
the falling prices of the past year
piling OF stocks was a dangerous
undertaking. Low stocks mean that
demand. once it develops. will De
sharp. With a settlement of the
freight rate question which will
result in a sterilization of prices.
a tendency to acquire inventories
undoubtedly will be seen.
Light Products Needed.
Prospects Of various Industries
which are large users of steel for
next year would indicate an ex-
ceptionally large demand for the
light products while the extent of
railroad buying will determine the
demand for heavy rolled materials.
Building. for instance. will be
heavy and will require large
amounts of wire nails and ner-
chant pipe while in proportion
structural steel needs will not be
so heavy. Industrially. 1t Is claim
ed. we are 20 per cent to 90 per cent
over-eNpanded and as a conse-
duence one of the greatest outlets
for structural steel will be largely
closed. To balance this partly. the
erection OF new department stores
structural steel
Auto Men Optimistic.
In sheets another light produc.
and one which was the first to feel
the expansion OF buying In the
past fall. an excellent demand is ex-
pected. Automobile men believe
1922 will be good year for the
automobile Industry. which would
mean a good demand for sheets IN
addition, IL is belived export de-
mand particularly from Japan,
where light steel sheets are beign
used for roofs. will be large.
In Tubular goods merchant pipe
will probably be the strongest. the
demand largely being for plumbing
uses in new dwellings. Dealers will
close 1921 practically bare OF
stocks. At present, demand for line
pipe is best OF the year following
the development of the MeIia oil
field. What the demand for this ma
terial will be next year will depend
upon the development of new oil
fields. 1t is very likely that new
lines will be extended through
South American fields, resulting in
still further substantial needs for
line pipe.
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
BUFFALO LIVESTOCK.

EAST BUFFALO. n. Y, Dec. l.
Cattle-Receipts. 1925: market ac-
tive: prime steers. ss.0oas.o0; cows.
$1.50a5.5o.
Calves-Receipts 500; market ae-
tive; culls to choice 81 lower.
Sheep and Lambs-Receipts. 24o0 /:
market active, IS cents lower;
choice lambs. s10.5oa11.00: culls to
fair. s6.ooa10.0o; yearlings. s6.50a
$50.
HoEs-Receipts. 500; market ac-
tive.
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
PITTSBURGH LIVESTOCK.

PITTSBURGH. Pa, Dec. Cat
tle--Receipts light: market steady.
Choice beeves. Ss.eoas.o5: good. 1875
ANS; fair, s7.o0a7.50; veal calves.
sl3 0oaII00.
Hogs - Receipts light; market
steady. Prime heavy. s5.t5a5. so:
medium, s4.50a5.0o: heavy Workers,
S4.00a4.5O; light Workers, slO.50a
100; pigs. 40 doubIedecks
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
SUGAR MARKET.

NEW 1ORh. Dec. The tlTIF mind
closed point lower 20 i point higher
HiEh Low Close
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
DEEDS OF TRUST.

So 2s77, lot s4o-Douglass co-ou-
erative League to Charlie II. John
son & Alfred H. Collins, to secure
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
DEEDS AND DEEDS OF TRUST

record of all deeds deeds of filed
in office Of the District Recorder of Deeds yesterday
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02
Municipal Bonds For Investment

Municipal Bonds and safeguarded
S among
The full
other subdviso
Municipality has taxable
boundaries of
by law for the sale of his the due
fact
of
OF the most Among the largest holders
individual siderauon
all technical details for
the and recommend
Municipal
of the compared with
the United States be had to yield as high
business confined largely this class
movie in OF form
requetw hail be lad send
Of next Bond List
Harris, Forbes & Company
Pine Street Corner William.
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02

Argentina. improving the outlook
there.
Furnished By ". D. Hibbs L c., Nsnh,r.
Chicago Beard Of Tr,ds.)
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-02

Washiagssa Office, Hssbs OsAg.
Tsisphons Main 1915
Norwich bulletin., 1921-05-18
MANUFACTURER CONCERNED
 ABOUT FOREIGN EXCHANGE

Washington, May 1.-The pressing need of stabilizing foreign exchange and the necessity of American exporters making greater efforts to sell what for egn importers want, in order to build up American trade, were pointed out to the National Association of Manufactur- CTS today by representatives of several foreign countries
 Iyuming C. Suez, Chinese consul in New York; Dr. Julio Bianchi. minister from Guatemala; Sadign- -es- -Saltaneh, minister from Pershia. Dr. R. H. Elza!de, minister from Ecuador and Senator Rol- dani Ricci, the Italian ambassador. out lined trade conditions with their respec- tive countries Each spoke of the de- pressing influence of unfavorabIe ex- change rates. There was nothing greedy or vengeful in the recent repara cions agreement made with Germany, Ambas- sador J. J. Jusserand of France declared in an address at the afternoon session.
 I've did not initiate the Germans, he added, when they claimed from us in 1871 an indemnity for their war expense We ask for none on that score and fu- ture genera tions of Frenchmen, in spite of the war having been won, will con- tinue to bear the weight of debt heavier than the temporary installments we are claiming today from Germany. Their payment will allay only private losses which they wantonly made. It is true, as considerable as possible, and only only part of them, something like half, will probably be covered"
Norwich bulletin., 1921-05-18
NI-ERs TO
 JOIN WITH BIrUMINors

New York. May 1.-The anthracite min. workers will join forces with the hituminous miners In formulating policies which zili govern the negotiation of neN wage agreements with the coal operators to take the place of the present contracts which expire March 3l, 1922.
 This action. which will consolidate thf ranks or the seo, ,eeo organized miners ol the country. was decided upon today at conference between international ofhceu Of the tinted Mine Workers of Amerfcs and the presidents and international board members of the three union dis tricis comprising the anthracite coal re- zion.
 The conference decided that the znthra> cite tri-district convention. which is usual ly held in August for the purpose Of drawing LID inc new wage demands, should be postponed until after the inter national convention Of the United Mine Workers. which convenes al Indianapolis. Ind. on Sept 20. At this international gathering the hituminous workers frame their wage proposals
 John l.. Lewis. international president of the United Nine Workers. explained that under this arrangement the Indian spolis convention would frame policies that would give both factions Of miners in their wage negotiations and the extent and method of their cooperation He said a dat. would he fixed after the in- t.rnstional convention for the tri-distriet meeting, at which time the anthracite workers would complete their demznds-
 This is a strategic move in the inter- est of hzrmony and cooperation, said Thomas Kennedy Of Hazleton, Pa, presi- dent of District No. [. United Mine Workers. and chairman of the tri-district executive board. finder this arrange ment. however. the autonomy of the an- thracit. organization of miners is guzran- teed and we will negotiate our own wage scales as usual
 The national convention will decide af to how far we shall back each other in our coming negotiations with the opera tors
 Officials of the anthracite miners point ed out that under the new plan. yhics originated with the international officert of the mine workers union. the bitumi- nous miners would ''set the pace" in the wage negotiations instead of the hard coal workers as in the past. when their convention preceded the national meeting. MT. Kennedy said the membership of the miners organization at the present time in the hard coal region vas approxi- mately 0,O00. Practically all mines in the region. he said, were operating. Pres
 ident Lewis said arrangements were made for A membership drive in District l which will result in the completion of a 100 per cent membership in the United
 Mine Workers in the entire anthraeite
 region.
Norwich bulletin., 1921-05-18
NO FEDERAL TROOPS UNTIL
 STATES EXHAUST RESOURCES

Washington. May 17.-Federal troops will not be used in the territory along the West Virginia ?kentucky border where disturbances in the coal mining sections have occurred until the states concerned have exhausted their own re- sources in coping with the situation
 Decision to this effect was reached today after Secretary Weeks had held several conferences and the subject had been discussed at the regular cabinet meeting. It was communicate ted by Pres ident Harding in a telegram despatched by Secretary Christian to Governor Mor- gan of West Virginia, who with Gov ernor Morrow of Kentucky had request ed federal troops
 Secretary Weeks reiterated today that the federal government was not dispos- ed to declare martial law in the disturb ed territory or to employ regulars there except as a last resort. Kentucky has state troops, De said, and although West Virginia has none she has with Ken lucky a number of special officers on the scene. Moreoer, he added, reports to the department indicated that the sit ustion was much quieter.
 Attorney General Daugherty, who at tended conferences with Secretary Weeks said, however, that if the trouble con- tinued to any great extent the federal SONtiuHleilt Noulu De JuSllueQ III tax ing a hand. While reports to his de- partment showed that the situation was serious he added. they gave only six or seven persons killed, much less than other reports. Those causing the trouble. he continued. were not West Virginians, but probably professional agitators from Colorado. Alabama and other states.
 4 serious aspect of the situation, the attorney general said, was interference of the mails through delay of trains. The department of justice. he said, had as yet taken no steps in the matter and had no agents in the district but the situ- ation was being studied to determine a course of action should the president decide to interfere without using federal troops.
 Mir Christians telegram follows
 'The president directs me to address to you the statement that the fedarel ! government is ever ready to perform it's full duty in the maintenance of con- stituted authority. but he feels he is not justified in directing the military 1 forces of the nation to enter the state of West Virginia, according to your request, until he is well assured that the 1 state has exhausted all it's resources in ] the performance of the duty clearly be- | longing to it, or the situation has become a menace to the federal government or 1 a hindrance 10 the performance of its | function
 "On the representations thus far made 1 the president is not convinced that Wesl 1 Virginia has exhausted all it's own re- 1 sources and he awaits more definite as. surance."
Norwich bulletin., 1921-05-18
2.I PER CENT. DECLINE IN APRIL,
 IN RETAIL FOOD COSTS

Washington, May 17.-A decline of 2.7 per cent in retail food costs of the aver age family for April as compared with March was reported today by the labor department. On Prices of 43 articles from 51 cities, 31 showed a drop, 10 an increase and no change. For the year 10 April 15, a combined decrease of 2S per cent. was reported.
 Eggs decreased IS per cent, flour and potatoes 5 per cent, prunes [ per cent. nut margarine, lard. crisco and rice 6 per cent, butter per cent, cabbage in- creased q per cent bacon s per cent. pork chops per cent
 Birmingham, Butte, Memphis, Mobile and Salt Lake City showed the greatest decrease at per cent In Atlanta. Bal timore, Detroit. Jacksonville, Louisville. Portland, Me, and Portland. Ore, and Providence prices decreased per cent. In Fall River Houston, Indianapolis. Kan sas City, Los Angeles, Milwaukee. Min neapolis, New Haven. New Orleans, Nor folk Richmond, St. Louis San Francisco. Savannah, Seattle and Springfield, H., 3 per cent.
 At Boston, Bridgeport, Buffalo. Charleston, Chicago, Cincinnati. Cleve- land, Columbus, Dallas, Denver. Man. chester, N. H. Newark, Omaha, Peoria Philadelphia, Rochester st. Paul and Washington the decrease was ? per cent. and in Little Rock, New York. Pitts. burgh and Scranton l per cent
Norwich bulletin., 1921-05-18
TO CONSTRUCT FUEL SUPPLY
 SHIP FOR JAPANESE NAVY

New York, May IA contract for the construction in the United States of a 20,oe0 ton electrically driven combination fuel supply ship for the Japanese navy was signed today with the New York Shipbuilding corporation. This announce ment was made by Captain M. Yokura. chairman of the imperial Japanese naval commission, which recently arrived in this country, at a dinner attended by repre- sentative steamship and other business interests
 Captain Yokura characterized the placing or thls contract as an evidence of the cordial feeling which Japan has for the United States. He said it was proof that Japan desired only the most friendly commercial relations with this country which, he said. for half a century has been Japan's true friend and ally.
 George J. Baldwin, chairman of the directorate of the shipbuilding corpora ton, said this contract was the first placed by Japan in the United States for a naval vessel in many years, England alone being entrusted of late with such work.