davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1921-09-02
WHEAT DISPLAYS
.STRONGUNDERTONE
Strong Commission Houses
On Buying Side Creates
Large Bulge.

CHICAGO. Sept. Wheat showed
a strong undertone from the start and
while fractionally lower at one time a
bulge of 21za2& cents from the in
side figures was made by noon with
strong commission houses on the buy
ing side. Local sentiment generally
is bullish and while the Greek order
for 100000 bushels was filed
through London with Manitobas IT
nevertheless had some effect on senti-
ment. Premiums at the Gulf were
quoted as frmer. Chicago houses
bought fairly liberal quantities on
overnight bids in the Southwest Spot
premiums here were firm with no. 2
hard sold at 3a5% cents over Sep
tember. Deliveries of September con-
tracts were $4,000 bushels and at Kan
sas City $4,000 bushels The Snow
Bartlett-Frazier report suggested a
total wheat crop for the country
of 100000. 900 bushels or 1900, 900
bushels less than government August
returns and 47.o00000 bushels less
than last years harvest.
There were no deliveries of corn
on September contracts and. with a
good class of buying. that advanced
around l cent over yesterdays close
and went to about u cent over De-
cember at one time. The Snow re-
port showing 3.145, 100000 bushels
against the governments 3.032,O00.-
900 bushels in August had no effect.
The seaboard was after cash grain
and took 100000 bushels here. Pre-
miums on spot were firm to 4 cent
higher with some cars of No. and
No. yellow selling at . cents over
the September.
Country offerings were liberal for
15-day shipments. Oats held witnIn
rather narrow limits, with the bulk
of the business in buying Septem-
Der and selling December by cash
houses. Deliveries were 1884, 900
bushels.
Provisions were lower. Deliveries
were 100000 pounds lard and 1000
900 pounds ribs and some of the latter
taken in during the morning were Of
fered at IS cents under October in
exchange for the latter. with carriers
bidding 20 cents under. Hogs were
steady to Is cents higher, with bulk
of sales at s6S5a9.40. Receipts
Western run, $500 against $4,000 a
week ago and $1,000 last year. Ex-
change par. Money steady, call g..
time, 6a615.
The Washington herald., 1921-09-02

While the decline is not so great
compared with a year ago the fact
that the total Is already bslow 1918
Is of interest. The principal short
ages are found in butter. cheese
and cured meats, principally pork.
All other meats have declined with
the exceptions Of lamb and mutton,
compared TO a year ago.
The decrease in butter Is due TO
a drop in the amount put into
storage during July which was only
20.716.000 pounds compared to a
five-year average of 4I.s33, 900
pounds. The storage of cheese
was also low during July, amount
ing to only 5,ss4.000 pounds COM.
pared to 2asSo.00o pounds as the
fve-year average. While the pro-
duction OF butter has been slowed
down slightly by the dry summer
period which has reduced the flow
of milk the chief decline Is prob
ably due to the Judgment of the
butter dealers who have observed
the declining demand.
Last year at this time large i'm
ports of Danish butter were COM
ing into the United States. In July,
1920 import figures were over S,0O0,-
900 pounds. This year but little
Danish butter is coming in since
prices there are too high for Amer
lean buyers and the tariff Is a fac
tor. England is taking about 60
per cent Of Denmark's butter and
the drouth conditions are compel
ling Germany and France to buy
heavily.
American creamery. butter pro-
The Washington herald., 1921-09-02
CURB TRADING
IS AGAIN QUIET
General Mass Of Stocks Gen
orally Unchanged-Few Is
sues Slightly Advance.

NEW YORK. Sept. THE New
York curb market continued quiet
from the beginning OF business to-
day and was without special feature.
a few issues making advances on
small transactions but the mass Of
stocks was generally unchanged in
its trading position. A few OF the
closely held issues were moved up
small fractions including Sweets
Company of America which was
traded in at 2S and 2h and there
was moderate activity in Phillip
Morris which sold at 3h 10 3% /.
Commonwealth finance issues were
also well held the common stock
selling at 81 and the preferred at 81.
Durant Motors was steady a small
amount of business being transacted
at IS. Glen Alden Coal sold at 34h
and Farrell Coal was traded in at
in the first half of the day. both
stocks being practically unchanged
in their trading position. North
American Pulp was also unchanged
from the position which has been
maintained by il for a long period.
A sale of Goldwyn Pictures was
at az. Denver preferred was a little
firmer, selling at 90 cents a share.
r. J. Reynolds. B stock was traded
in at 35.
Petroleum issues also moved with
in a narrow range and were without
special feature. Tropical Oil shares
had better support, Imperial Oil
selling at S7s and Mexican Eagle
was traded in at 1s to 19II. The
low priced shares were practically
unchanged. Ryan Consolidated SELL
ing at and Simms Petroleum SELL
ing at 6k. Standard Oil of Indiana
was traded in at ssh TO 6Sk. A
sale OF Cities Service was made at
III. Mining stocks were without
feature although dealings continued
on a fairly large scale.
The Washington herald., 1921-09-02
NEGRO SLAIN WITH
KNIFE BY WOMAN

Stabbed in the back just below the
heart in Kirby alley northwest short
ly after 6 o'clock last night Joseph
Price, colored, Is years old, 14o2 First
street northwest died an hour later at
the Sibley Hospital from the wound
Police OF the Second precinct station
secured the city for the alleged slayer
Effie Williams. "a years old, 1902 First
street northwest.
The murder was the result of an
at their home. during which
Price was slightly cut about the neck.
He dashed cut of the house and was
chased up First street to Kirby alley.
where the woman overcame Price and
plunged a knife into his back. The
body was removed TO the District
morgue. An inquest will be held this
morning.
The Washington herald., 1921-09-02
NERVOUS STATE
In COTTON MART
All Options Touch Highest
Levels Reached During
Life of Contracts.

NEW YORK. Sept. 1.-The mar
kets for cotton today became eX-
cited and nervous as all options
touched the highest levels reached
during the life of the contracts.
The advance carried prices over IS
a bale above the previous nights
final bids.
On the most sensationally bullish
crop report ever issued by the De-
partment of Agriculture all in
terests rushed to buy cotton. Liver
pool, even before the government
report was issued, reported heavy
buying of cotton by American
houses. The selling was chiefly by
professionals who desired to take
profits. Bulls were aided materially
by supplementary statement of
the Bureau of Crop Estimates.
which report depicted a deplorable
condition of the growing cotton
crop. There was a reaction from
the high levels. but the market re-
manned very strong.
In the goods market conditions
were also favorable for upturning
prices. Some Fall River men say
that they could have consummated
double the business reported If
they were willing to accept goods
at the prices bid for later deliveries.
The break in cotton yesterday
caused slackening in the busi-
ness done in the Philadelphia goods
market. but today a private wire
reported a good busines working.
or just under the market
weather reports from the South,
while mostly more favorable than
they have been recently. were
ignored.
The Washington herald., 1921-09-02
SURPLUS OF FOODS
IN STORAGE DECREASES
Heavy Supplies of the Past Two Years Greatly
Reduced-Smaller Amounts Being Stored. Z
tBy TAe washington Herald Econoni.t)

Herald EeonomistD
duction has declined during July
and August The stocks OF con-
densed and evaporated milk in-
creased during June In the period
Of heavy production. but the ex-
ports also increased which absorbed
the surplus to quite an extent.
Prices of milk products were re-
duced during June and July.
The census summary on dairying
for 1919 shows that in the ten years
the amount of milk produced in
creased 1875 per cent, while the
amount of milk produced increased
80 per cent. This great increase
OF milk sold is due to the fact that
less butter and cheese is being made
on the farms. the milk being sent
to the factory. This is further
borne out by the decline of 28 per
cent in the amount of butter made
on the farms. and a loss of - per
cent in butter sold.
The great change in the dairy
industry in the last ten years is
the drift to factory industry for
butter and cheese making. Dairy
farmers now sell cream and butter
fat rather than the finished prod
uct, butter and cheese. During the
last ten years the amount of butter
fat sold from farms increased TAI
per cent and cream 40 per cent. 4
The loss of some of the export
market would lead to the conclu-
sion that the surplus supply of food
products would grow during the
midsummer season of flush produc-
tion, but the fact is that the shrink
q o. af l.
pace with the decline in foreign
demand and exports of pork and
lard are increasing in quantity.
The stored supply of eggs reached
new high level in August greater
average, although the amount
stored during July was quite low.
The egg market has recovered from
the slump of June and early July.
The foreign trade in eggs Is in
creasing. For the first six months
Of 1921 exports were 14,1S6.000
dozen and imports were 2,471,000
dozen. This is a large increase in
imports Ger 1920 or about 1856 per
cent. not including dried, frozen
eggs and eggs and egg products.
OF the latter 6.197.0 900 pounds were
imported compared to 6.453,0oO
pounds in 1920. The exports of these
products are small.
Imports of eggs from China Is
not likely to grow to any extent
since they must be sold at greatly
reduced prices compared with the
American product after the tariff
is paid. Such eggs are about two
months old when they reach the
consumer. The imports of dried and
frozen eggs may increase, however,
since the business of preparing
them in China is in the hands of
Americans to a large extent.
The amounts of all meats placed
in cure or frozen during the month
was less than in June except beef
which gained about 90 per cent,
The totals put in during July this
year were all less than the amount
put in during the Same motnhs u
1920 or 1919.
These diminishing stocks of food
stuffs in reserve. with none too good
prospect for animal production, do
not give promise of any great re-
duction in the cost of food in the
near future.
The Washington herald., 1921-09-02
Suit Attacks Transfer
Made Prior to Death

william Cummns, administrator
OF the estate of Mary A. Washing
ton. who died May % last, filed suit
yesterday in the District Supreme
Court to set aside deed. signed by
Samuel Washington, conveying the
premises at 1926 Walter street
southeast to Alice r. Brawner.
Samuel Washington died three
months before the death of his wife.
II Is claimed, and withoutihis wife's
permissicp conveyed. the property,
which was held by him and his wife
as joint tenants, to the Brawner
woman. The administrator claims
that the transfer was illegal, as il
required the signature of the wife.
The Washington herald., 1921-09-02

The food surplus which has been
a weight on the market for the
past two years Is disappearing. The
first indication was the August he
port on foods in cold storage. For
this date the amounts on hand Tor
the. past four years was as follows:
stocks of Food I'm storage.
The Washington herald., 1921-09-02

a EcE CcnI ~ u mallIr OIL LHCL
action on this dividend win be
taken at a meeting scheduled for
September 9 The action really
taken and which caused the con-
fusion was a declaration Of q per
cent dividend on Mobile and Ohio
stock trust certificates.
There was a revival today OF ru-
mors regarding the financial din
culties OF Cuba Cane sugar. Re-
ports were to the effect that efforts
TO obtain help from the banks had
not been quite so successful as had
been expected. The stock opened
at 8. unchanged from yesterdays
close and then sold down early TO
IN. Traders. however. have iong
since pretty thoroughly discounted
any unfavorable developments and
the low point for the year. sx.
was reached JaIy IL other sugar
stocks were heavy.
The rumor mongers we're also
busy again with Northern Pacific.
A reperthhad 1T that the dividend
makingshas been set for September
IL and guesses differ as 20 the
probable action Of the directors.
In some qnarters IL was stated ,,at
the regular q per cent rate wSiId
he declared, while others insisted
that a reduction to S per cent is
more than probable. The stock
opened up q at 73tS but before
noon had ssgged of 2Iz points.
Great Northern also reacted tx.
Inactivity Of the market today
and tomorrow are quite in line
with cxpectations In view Of the
approaching triple holiday. Profit
taking by those who bought when
they thought the bottom had been
reached last week anu who do not
wish TO carry their stocks over the
holidays is likely to offset more
or less covering by shorts who have
a considerable account still out
standing. A sharp divergence of
opinion exists as to the probable
course of the market during the
next two or three weeks, one the
ory being that a resumption OF
operations by large bear interests
may be expected which will result
in many new lows or duplication
OF previous ones before bottom is
reached and the upward swing he
gins. The other opirion 30 that
this swing has already begun and
that the sharp raHS Of the last
few days was too pronounced to in
dicate an immediate resumption Of
the late decline.
Interborough issues had their
ups and owns this mo-aiar on news
regarding the receivershiP suits
Early reports that Judge Mayer
had refused a postpouement Of the
hearing set for today. caused =
sagginE in prices. but good rally
came later when the court an
Eounced an extension Of time -
September . for ths tearing of
arguments and intin-tci that too
Sasty action might nor be in tie
best interests nf the puc"" Inter
borough common advanced 10 foI
gain Of one point and the pre-
ferred got up TO lh at SS. Man
haitian Eleva.c1 also recovered one
point to SO. Action ~ IaterborcuCh
stocks f,'- the last TWO days has
reflected the belief Of the Street
that a recei"e-shlD S-ilI be avoided.
The Washington herald., 1921-09-02

way had declared a per cent div
idend ON the preferred stock,
"a per cent. As a matter OF fact
action on this dividend win be
taken at a meeting scheduled for
September 6 The action really
taken and which caused the con-
fusion was declaration Of per
cent dividend on Mobile and Ohio
stock trust certificates.
The weekly times-record. (Valley City, N.D.) 1912-1922, 1921-08-11

industries and in transportation be-
fore this situation is reached. It
has been contended, and with much
force, that living costs should lead
rather than follow, wage reductions.
and they have led at the expense OF
the earnings of farmers and at the.
expense of profits and dividends,
but they have reached a point where
further price reductions are depend
ent upon wage reductions. These
reductions, however. will not mean
a loss of purchasing power to wage
earners, for the very reason that
wages are now the principle factor
in prices, and the cost of living,
generally speaking, will decline
accordingly.
On the other hand if further re-
auctions are not made in the in
dustries indicated. living costs are
likely to rise. Already the farmers
are organizing for the purpose Of
curtailing the production OF agri-
cultural products. The cotton crop
this year will be Is per cent below
the average amount required under
normal conditions to meet the de-
mand. Plans are being developed
to curtail the production Of food.
stuffs. These policies are justified
by the combinations of wage-earners
and others to maintain wages and
the prices of town-made products at
an unfair level above farm products.
The whole system of restriction is
wrong and in the end defeats the
purpose in view of lettering living
conditions for those who practice it.
When everybody practices it tie
result is poorer living conditions fef
ALL, The best results will be a.
tanned for every group OF woek9s
by a fair attitude toward oteeee'
and by a common policy to Deoe
the general good. .....-..4.. -
The weekly times-record. (Valley City, N.D.) 1912-1922, 1921-08-11

evident reason that the farmer can
NOT buy as many clothes at the
present prices as. when MS own
compensation was on a par WIN
the compensation of these people
with whom he is trading services.
4. A similar problem faces the wage
earners in all the industries. Inc
wape-workers in agriculture nave
the situation before their eyes, ana
have Welded to it promptly. The
wages of farm hands have dropped
approximately one-half. Farm hanos
were close enough to the situation
to see that it was that or nothing.
The factory workers, railroad en-
ployes and town workers generally
are many of them working for the
farmers and will have to face the
same situation. Unemployment ex-
lists on a large scale because goods
cannot be sold, and they cannot be
sold because the industrial situation
Is out of balance. Recovery vii!
come as the balance is restored ana
cannot come otherwise.
It is greatly to the credit OF the
wape-earners as a class that the
process Of readjustment has pro-
ceeded with as little friction as mas
been the case thus far. Generally
there has been willingness to make
concessions. 1t is not advisable that
the movement should be unduly
pressed. 1t is better to take more
time, although delay means that tne
losses are greater, for the wage
earners are entitled to know why
lower wages are necessary. 1ney
are interested in havine the neces'
sarv readjustments made IN oraei
that industry may be on bass tna'
will afford steady and full en-
r'oyrent. \. :, ~
Wage reductions will have to g.
much further in the manufacturing
The weekly times-record. (Valley City, N.D.) 1912-1922, 1921-08-11

~ BSERVERS Of business are
almost unanimous in their as
~ surances that there is better
feeling" about BUSINESS.
lust exactly what this recurring
phrase means is difficult to state.
It might be descriptive of any OF
dozen psychological changes that
could enter into the situation. II
it means that people generally nave
begun to realize the causes that
have thrown industry out OF bal
ance, and to appreciate the things
that must be corrected before con-
ditions come into equilibrium again,
then we should say that the re-.
ported better feeling" constituted
an important advance toward nor.
malcy. If, however, the better
feeling" means simply that people
are merely smiling and waiting
more patiently. rather than setting
themselves seriously to the task OF
wage and price reductions and other
readjustments that are necessary,
then we fear that it signites but
little. ..
= There is fresh evidence constantly
that the readjustments are taking
place. They are slow, but it takes
time for a knowledge of conditions
to reach all classes and divisions OF
the population, and for them to
make up their minds to give the
cooperation that is necessary to
bring industry back into balance.
Meanwhile, it will aid in the cultiva-
ton of patience to realize that con-
ditions are by no means so bad as
they might be, and that considering
all the circumstances the volume OF
business is really surprisingly large.
The fundamental difficulty upon
which a revival of business waits is
still the inequality of values as be-
tween the various classes OF goods
and services. The normal basis OF
trade between people in different
industries has been disturbed, and
it is only by the pressure OF painful
experience that the old relations are
restored.
The producers of cotton, corn and
oats, wool, hides, sugar and food
stuffs generally are getting no more
for their labor than before the war
Among the principal items OF ex.
pense to them is clothing. They
produce the raw material for it, but
under the modern system Of indus
try sell it and buy it back in thu
form of garments, paying the trans
portation charges, mill-workers
earment-workers and all middle
men by supplying food and raw
materials to everybody.
All Of the people who have par
n the conversion of wool cote!
md hides for the farmers use arr
efill getting 100 per cent or bette
dove p,e-war wages, but :nTa,'!
0hey are not all at work. Tor tn
The weekly times-record. (Valley City, N.D.) 1912-1922, 1921-08-11
FUNERAL OF FRANK
LANNON JR. SAT'DAY

The funeral Of Frank Lannon, Jr.,
will be held at the farm home near
Leal on Saturday afternoon at 2
o'clock, and interment will be made IN
the cemetery at Leal. The officiating
clergyman will be Rev. Nugent. The
deceased was Born fifteen years ago
on the 18th day Of July at Leal. Two
other sons as we'll as two daughters
of Mr.. and Mrs. Lannon have passed
away and there are now three daugh-
tiers living, Mrs. Nick Runck, Mrs
George Butler and Miss Grace Lannon.
This last sorrow is hard one for the
parents ard sisters to bear and to
them the sympathy Of large circle
of friends goes out. "a
The weekly times-record. (Valley City, N.D.) 1912-1922, 1921-08-11
EXPENSIVE BORROWING

Does it cost North Dakota as much
to borrow money as she can obtain
from her borrowings j..
In other words, are the expenses OF
selling these North Dakota bonds
equal to the total amount OF money
we get from the sale?
Are we just putting all we get from
the sale of our securities into salaries
to Socialists, office expenses, advertise
ments in Mr.. Lemke's and Mr.. Town.
ley's journals. advertisements in The
Nation and The New Republic, and
Entertainment" bills of Miss Mary
MacFadden, whoever she may be.
It would seem so. gy .g
To date, the cost Of the bond selling
campaign has exceeded $4,000.
And what are the results?
Nobody outside the inner circle OF
the administration, knows but there is
nothing to show that any material
amount of money has been received
for the bonds. There is no item in the
report Of the Bank of North Dakota
showing that any money has come IN.
The administration moreover is very
modest in it's claims. It is long OF
promises that the bonds will be sold,
but it is silent on what progress has
been made, and what money has &C
tually been received.
In fact there is very good reason to
believe that more money has been paid
out in expenses than has actually been
received.
That means that North Dakota is
letting its securities be kicked around
the bond markets like so much worth
less oil stock, in order to beg enough
money to pay Socialists salaries and
keep some red editor eating regularly.
Isn't it time that the voters demand
ed an accounting from the administra-
ton as to the amount Of money re-
ceived for the bonds, how many have
been sold, at what price, on what
terms, at what interest charge, and
at what cost to the state Forum.
The weekly times-record. (Valley City, N.D.) 1912-1922, 1921-08-11

strong footing in this or any other
Community as to honesty Of character
and if these people steal in these mat.
tiers we have no knowing but wna1
thew would steal other. things, Jas
stealing becomes habit just like any
other habit is formed. We know that
it is annoying to those who have spent
much time in raising fruit trees to
have the fruit stolen before it is ripe
and before they themselves can get
a chance to enjoy it themselves.