davidaulloa/AmericanStories huggingface dataset:
Ellsworth American., 1921-11-09
ALL HIS LIFE
He SUFFERED.
Until "Fruit-a-Hves" Brought
Perfect Health

40 ANDERSON ST., PORTLAND, MAINE.
was troubled with Constipation
ever since / can remember. AS
result, was subject to distressing
Headaches and Pain in my left side.
i CHANGED to read about "Fruit-a-
tfves" in one of our local papers and
began their use about four months
ago. Since then, have been free of
Headaches, my bowels have been
regular, and from the use of "Fruit-
a-tives" (Fruit Laxo Tablets) feel l
have derived the greatest benefit.
OTIS M. BRYANT.
SOC box, 6 for $3.50, trial size 25c.
At dealers or from FRUIT-A-TIVES
Limited, OGDENSBURG N. Y.
The Washington times., 1921-04-13
MELLON ASKSF0R
MOREPAPERM MONEY
Shortage of Printed Currency
Keeps Big Amount of Silver
Out of Circulation.

Large quantities Of silver coin
which might be in circulation arc
necessarily being held in the Treasury
vaults because OF a shortage of print
ed currency, il became known today
through a request from Secretary OF
the Treasury Mellon to Congress,
urging the authorization of a large
currency printing schedule at the Bu-
reau of Engraving and Printing.
He asked that the bureau deliver
136.000,000 sheets OF currency of tn,
various classes for the fiscal year end
ing June 80. 1921, intsead of the 49,
25O,0o0 sheets originally planned. The
principal shortage Is in silver GER
tifcates in small denominations
mostly 81 and 80 pieces. So acute il
this shortage, according to Secretary
Mellon. that the ordinary demands of
commerce and replacement cannot he
met, and the chief of the Secret Ser
vice has also given warning that there
is serious danger from counterfeiter3
because of the number of worn and
mutilated bills in circulation.
Under the Pittman act. Il was
necessary first to print Federal re
serve bank notes, large 81 and 50 de-
nominations, to replace silver certifi-
Gates retired by the authorized melt
ing of silver dollars. Secretary Mel
Ion points out this operation is now
being reversed, with a consequent de-
mand for silver certificates
The Washington times., 1921-04-13
FINANCE
SUBJECT FOR U. sc. OFC,

international finance is one OF the
important subjects that will be dis
cussed at the ninth annual meeting
of the Chamber of Commerce Of the
United States at Atlantic City, April
81 to 20.
with the United States now a
creditor nation" says a statement of
the chambers department OF, finance,
"and with the Treasury's revenue re-
auirements in excess OF five times
those of 1914. and with the Govern
ment facing a debt of almost $4,000. -
0O0. 900 due to be retired or refunded
in the next three years, discussion of
the Governments fiscal policy, with
detailed consideration OF taxation and
tariff. will properly have important
places upon the program of the fl
nance group sessions" Sessions of
this group will be held in the after
moons of April 81 and ..
Because of the importance of the
problems to be discussed and the
timeiiEess Of the meeting. leading
figures in the financial world are in
dicating their intention of being
present.
A review of Canada's experience
with the sales tax, presenting the
viewpoints OF the government, manu-
facturer, wholesaler, retailer, and con-
sumer, will be followed by a discus
sion in which advocates and oppo-
nents OF the sales tax in the United
States will participate.
The Washington times., 1921-04-13
PRESIDENTS VIEWPOINT
ON BUSINESS

The following summary from
the address of the President to
Congress is of interest to busi-
ness throughout the country:
Taxation - Repeal of excess
profits taxes and abolition. of in
equalities and unjustifable exas-
perations in the present system"
with a wiping out rather than a
shifting of burdens.
Tariff Instant emergency
tariff legislation to be followed
by a "maturer'' revision of the
tariff on a protective basis which
will protect American wage
standards, industry. and agricul-
ture.
Budget-Prompt enactment of
the budget bill and Inauguration
of business methods in opera
tions of the Government.
Prices-Existing retail prices
of perishable foods cannot be
justified in view of the decline
in raw foodstuffs. A Congress
sional Investigation Is suggested
as a possible incentive to a
speedier return to normal levels.
Railroads.&c. Congressional in
vestigation is proposed. He de-
clared for removal of remnants
which are the ''inheritance of
capitalistic exploitation" reduce
ton of rates and operating costs
and for cooperation of wage
earlers and the management in
giving maximum service to the
public.
Highways-Federa aid must
be extended only under strict
conditions as to maintenance
and repair by Stste authorities.
Merchant Marine-Governm
encouragement but not operation
OF shipping. revision of the mer-
chant marine law II found made
gate and coordination of inland
and ocean water carriers
The Washington times., 1921-04-13
REDUCTION HAS
EFFECT ON STOCKS
Announcement by Steel Corpor-
alton Causes Fractional Drop
In Prices at Opening.

NEW YORK, April 13.-The reduc-
tions announced in the price Of its
products by the United States Steel
Corporation was reflected in some
selling of the steel shares at the
opening of the stock market today.
resulting in losses of from fractions
to one point in this group. The rest
of the list was irregular, with tho
tendency being to lower figures
Steel common sold off N, to so,
and Republic Steel dropped one point.
to 59N. Crucible also sustained a
loss of about one point, while Bald
win and Bethlehem Steel "B" drop
ped ".
International Paper features the
trading with a further advance of 21s
points, to 64h. following the publi-
cation of the 1920 earning statement
showing earnings far in excess Of
what had been expected.
Mexican Petroleum yielded a, to
139%. and Royal Dutch dropped IA 4.
to 59%. Atlantic Gulf yielded nearly
one point, to 37b. Studebaker. after
dropping Y, to TIN, rallied to 1875
American Sumatra declined fraction
ally to "a. The coppers were slight
ly lower.
The Washington times., 1921-04-13
PRESIDENT HARDINs's MESSAGE

While the Presidents message to
Congress evoked only favorable COM
ment, IL had little apparent effect on
the stock market. This was rather
disappointing to sume traders, who
had looked for a rally to follow its
publication. The outstanding feature
from a financial standpoint, appeared
to be the advocation of the e>repeal Of
the excess profits tax and the relief
of existing railroad conditions. Ex-
cess profits taxes have been the bug
aboo held up by big business for the
past two years. However. traders
realized that the return to "normalcy"
is going to be a long-drawn out pro-
cess. In the meantime numerous pes
simistic reports were in circulation
regarding the steel issues. With these
to work on traders sold without pay
ing much attention to the many con-
structive policies outlined by the
Chief Executive. Although the effect
of the message was not apparent in
trading, 1t added greatly
to the optimism of that steadily grow
ing group of optimists who refuse to
"go short on the United States"
The Washington times., 1921-04-13
BUSINESS ENGINEERING
FIRM OPENS LOCAL OFFICE

The Engineering Business Ex-
change announces the opening of a
Southeastern branch with Marshall o.
Leighton, of this city, as director. Mr.
Leighton was for many years an Of
fcer of the United States Geological
Survey.
Associated with Mr.. Leighton will
be A. c. Oliphant
The Southeastern branch, Of the
Engineering Business Exchange has
Offices In the McLachlen building. It
will cooperate with the main office In
New York. but will have. especial
charge of the territory from Mary
land to Alabama inclusive.
This branch OF the Engineering
Business Exchange Is another Of the
many business firms that are locating
in the Capital.
The Washington times., 1921-04-13
RESERVE BANKS SEEK
DATA ON EMPLOYMENT

The twelve Federal Reserve banks
Of the country have issued, simultane
ously, questionnaires in an attempt t
make a survey of employment and un-
employment in industrial and CONNER
cial lines. The findings will be COM
bined for the country as a whole by
the Reserve Board and made public
soon after April Is.
Six questions are asked. They are:
Number of employees on payroll? Any
reductions in wage rates? Have re-
ductions been uniform? The per-
centage of reduction and the percent
ages of reductions in wage rate for
different major groups or classes OF
workers IL the cuts have not been
The data is asked as of
April ] this year and the same date
last year.
The Washington times., 1921-04-13
CENTRAL LEATHER RESERVE.

When Is a reserve not reserve"
This is puzzling analysts who have
made a close study of the Central
Leather annual report for 1920. The
answer appears to be: "When 1t may
be a concealed asset" Much has been
said about a reserve of $4,000, 900.
which. II Is argued, can be used for a
further writing down OF inventory.
The report shows that the company
has in reality no such reserve. 1t
shows inventories of $50, SOC, 900. con-
sisting Of 500, 100, 900 finished goods
and S3s, ,4OO,O 900 raw materials. The
report reads: "Raw materials, etc,
less a reserve of S5,500. .000," amounted
to S3S. .40O, ,O0O--but there Is no reserve
for this amount shown in the liabili-
ties. This statement has misled some
folk into believing the company has a
reserve of S5,5OO.OO0. against which a
further charge-of can be made. The
actual fact Is II has already been
charged of. II II had not made such
a deduction total inventories would
have amounted to s66,OO0 900. or onlv
Se,0OO.OOO decline from its record
large holdings of S75.OO0,OO0 at the
close OF 1919, despite the final deficit
OF SOS, ,000. 900 shown for last year. Tn :
only actual reserve shown In the re-
The Washington times., 1921-04-13
Wall Street Gossip

port is s4,594,0T7 to be used for insur-
ance, retirement of bonds, and other
accounts. This leaves
only a profit and loss surplus of x4.-
15I 900 to meet any operating loss or
further write-off in inventories during
the first quarter of the year. Some
folk close to the company claim the
value of inventories on December 81
was S66.OO0, 900, and that any decline
in value over the past quarter will be
taken care of by the $500, 900 already
deducted. IL such is the case, why
was not the asctual value shown AMI
II necessary reserve for that amount
set up and shown in liabilities? This
may be explained at the stockholders
meeting on Friday.
The Washington times., 1921-04-13
B. & o. Officials Optimistic,

Signs that a turn in the tide OF
business depression is near at hand
is the belief of Baltimore ard Ohio
officials. This belief is based, not
en- recent car loadings nor the show
ings of gross and net revenue, but
upon the increase in the number OF
orders taken. For instance. according
to these traffic officers, February was
a greater "order taking" month than
January and likewise March excelled
February. This, they declare while
not indicating an immediate increase
in traffic. does portend a gradual re-
turn to normalcy.
The Washington times., 1921-04-13
HELPING WAR BONDS.

Despite optimistic feelings in Wall
street advices from Washington indi-
cate there will be no immediate re-
duction in the rediscount rate of the
Federal Reserve. Present indications
lead to the belief that first relief
will be given to the war bonds when
put up as collateral for loans. No
definite steps have been taken. but
IL Is understood that plans are under
consideration whereby the amount to
be advanced on the Liberty issues
will be larger. 1t is also possible
that some reduction may be made in
tie rate on these issues.
The Washington times., 1921-04-13
INDEPENDENT STEEL COMPANIES

Although all the independent steel
stocks except Crucible have been
gradually slumping for some time.
traders appear to have just realized
the situation. Everywhere one goes
there is a different bearish rumor on
one of the independents, principally
dealing with the expected dividend
action. Anyone who has kept in close
touch with conditions realizes that the
independents cannot keep on paying
dividends at current rates. That Re-
public will probably cut, Lackawan-
ma suspend payments. and Bethlehem
maintain its existing rate are the
latest reports. The real information
wanted. however. lis when will the
Crucible pool let go, and directors
take conservative action as to divi-
dends.
The Washington times., 1921-04-13
CHICAGO MARKETS.

CHICAGO. April 13.-Reports OF
enormous export business done over
night were a factor in wheat at the
opening today. May was unchanged
to x lower at the start, and July was
1 cent of: trade was mixed.
All transactions in corn were con-
fined to small lots. May started un-
changed. while the more deferred de-
liveries were ~ to " lower.
Trade in oats was very light, with
prices unchanged to a shade lower.
Lard was lower and ribs higher at
the start. with no trading in pork.
The Washington times., 1921-04-13
WANTS TO INVEST $500.

q. r. P-I recently made ny
nrst Investment, buyinG $1,000
PenpsyIvsnia RailrosA SK per cest
bond. Do You consider this . good
secuyftyf ! now have $500 nore
and have been considering DeanfArk
Ss and Chile Ss, but hesitate be-
cause I thought the interest was
too high for q sound bond. IL that
because they are foreign bSnhss
Would ! have to take less than
per cent ON account of the diff
ference I'm exchanged
Answer-Denmark SIS and Chile SIS
are regarded as high-class securities.
These bonds are obtainable in $500
denomination. Foreign governments.
seeking loans in the United States,
must pay the market price for money.
Before the war. England or France
or Germany could have supplied these
loans. but low South America and
Europe must come to New York when
they want money. and as there is a
greater demand for funds than sup
ply. naturally the cost or interest
charge is high. This obeys the in
evitable law of supply and demand.
We believe Denmark IS and Chile
SIS extremely attractive investments.
Your Pennsylvania bond is high
gr ade. Interest and principal are
payable in New York.
FUTURE OF EASE AND COMFORT.
w. r. DeA.-Kindly advise me as
to the enclosed prospectus of the
Huntington OIL 4 Gas Co. L. the
stock at IS a share a worth while
gamble in a small way?
Ans.-The prospectus reads very
much like all such screeds. 1t ex-
presses optimism luridly. Among
other things the writer says, "One
hundred dollars invested now in
Oil & Gas may mean a
future OF ease and comfort OF
course 1t may" but we should say
II was about one chance in a tril-
lion. We do not know OF any worth
while CANDLES"
The Washington times., 1921-04-13
CHICAGO MARKETS.

CHICAGO, April 13.-Wheat opened
u to 1c lower; corn VI to 1hc lower;
cats unchanged; lard lower. Ribs
higher and pork not quoted. Open.
ing:
c11.09la.
Corn-May 57@56%; July. eokoh;
September. 63d62%.
oats-May, 3eh; July 37Ta%; Sep
tember. 3sss@%.
Lard--July, 1920.
Ribs-July, 9.40.
The Washington times., 1921-04-13
NEW YORK COTTON MARKET,

NEW YORK. April 13.-Gloomy
strike news OF England was reflected
n weak cables and led to active SELL
ing at the opening of the cotton mar.
ket here today which depressed first
prices II to 10 points. Liverpool and
the South led the selling early while
Wall street and room shorts were
buyers.
The market subsequently, acted
steady at about the initial levels.
There was a fair trade.
The Washington times., 1921-04-13
Montgomery County Bonds.

The Issue of $4,000 So per cent
serial bonds of Montgomery county,
Md. on which bids were opened yes
terdas, was purchased by a Baltimore
banking syndicate composed OF Baker.
Watts & Co, Nelson. Cook e. Co, and
Townsend Scott e. Son. The syndi-
cate has not decided on the price at
which the bonds will be offered pub
licly.
The Washington times., 1921-04-13
WESTERN UNION MOVE.

The long expected move in Western
Union, as mentioned in this column
some weeks ago. has finally develop
ed. Those in the pool have taken real
atcion for the first time. Their ef-
forts have met with considerable
initial success accompanied by a re-
port that the dividend is to be in
creased to an annual 80 basis.
The Washington times., 1921-04-13
McoUAOE IS SPEANER.

At the weekly meeting of the
Elementary Glass OF Washington
Chapter A. r. r. last night. Edward ].
McQuade. cashier OF the Liberty Ma
tional Bank. was the principal
speaker.
Graduation exercises Of the chapter
will be held on May ! according to
announcement made by President
Charles II. Boyer.
The Washington times., 1921-04-13
LIVERPOOL COTTON MARKET.

LIVERPOOL. April 13.-Good in
Guiries were made at the opening OF
spot cotton today. Prices were
steady. Sales were seven thousand
bales.
American mids. 1898: good mids.
S.73: fully mids. SOB; mids. 7.43: low
G.3S; Good ord. 513: Ord. 43S.
Futures opened quiet today.
The Washington times., 1921-04-13

Following the traditions of the cor
poration Judge Gary made public the
new price schedule, after a conference
with the presidents Of the subsidiary
companies. He said that the decision
to lower prices was reached "after
careful consideration of the whole
subject" Judge Gary declined to
say. however, whether a cut in wages
would follow the action with regard
to prices.
EFFECTIVE TODAY.
The new price schedule, which be-
comes effective today. represents re-
ductions ranging from $1.50 a ton for
heavier billets to SIS a ton for tin
plate. Prices previously maintained
by the steel corporation were those
approved by the War Industries
Board on March 21, 1919. following
which time the leading independents
advanced their quotations in a rum
away market not participated in By
the principal factor of the industry.
Beginning last November. however,
the independents began cutting prices
with the result that their average at
the close of last week stood at $685.
a ton, compared with $63.49, the In.
dustrial Board level.
THE NEW SCHEDULE.
The reductions compared with the
corporations previous schedule to!-
low:
price. price
AKA and heavier bill
let's ..............S37.o 90 gross ton $3.50
Slabs ............... $500 gross ton 1900
biIiets ............. $500 gross ton 47.oo
Rars .............. 2.10 100 lbs. 2.35
rlates and structural 2.2o 100 lbs. =
Wire rods .......... $500 gross ton $500
Plain wire, base go. 800 3.35
Wire nails, per keg... 3.25 base no chg.
I'm plate .-.....-.... o.Ss oase oox f'oV
'Plates, sass: structural, 32.s5.
The reductions for all the above
products, translated into tons. are
S1.5O for the heavier billets. 81 for
slabs, $S for sheet bars and small
billets. IS for bars. 50 for plates, IS
for structural, 81 for plain wire and
SIS for tin plate.
1t was stated that price readjust-
nents on the Steel Corporations tu-
rular products and sheets will be
made in the near future.
President Simon Guggenheim and
ether officers of the company were re-
elected today at meeting of the
beard of directors.
AMERICAN sUMATRA DIVIDEND.
Reduction in the American Sumatra
dividend to an IS annual basis, an
Iounced after the close, did not
come as a surprise. Rumors to the
effect that a reduction was likely
have been in circulation for some
time. Early yesterday. II became
known that the extent of the reduc-
ton would be decided on at the meet
ing of directors. 1t was stated that
while some interests felt the reg
ular pa per cent payment should be
made influential, directors believed a
cut to an annual q per cent rate
looked like compromise to some
traders. r--
The Washington times., 1921-04-13
NO RECENT RETURNS FROM
NINE.

r. w. L-By the death of my
father. I came into possession of
45O shares of Empire Copper and
Gold Mining stock. ] suppose 1t
was bought a good many years ago.
should like to know IL the COM
pany is in existence and IL tho
stock is OF any value.
Answer--This company was incor-
porated in 1906 by Los Angeles
men. The company had a
prospect mining property at Dragon,
Ariz. No recent returns available, and
The Washington times., 1921-04-13
BUILDING NEW PLANTS.

The Ampco Metals Products Co, of
Springfield, Mo-, has started the erec-
ton of a new factory building, and,
on it's completion. will build a foun
dry and machine shop. The company
is capitalized at 100000. The Lucius
Manufacturing Co, of Canton. O., has
changed its name to the Canton Tank
and Mfg. Co.. and has purchased a
plant $50 feet by so feet
The Washington times., 1921-04-13
VIRGINIA ROAD SEEKS
RIGHT TO PLEDGE BONDS

The Virginian Blue Ridge Railway
Company today asked the Interstate
Commerce Commission for authority
to pledge s35.000 of it's per cent
FIRST mortgage gold bonds as security
for short-time notes
The Washington times., 1921-04-13
Insured Investments

Is your house insured against
fire7 II you are q home e-owner
you have probably looked after
that, but are you sure that you
have not been less provident in
the matter of your investments!
Your investment in our First
Mortgage Notes is literally insur-
ed against fire, to pegin with.
and II is safeguarded at every
point by the most thorough and
far-reaching financial precautions
The Washington times., 1921-04-13
AMERICAN sUMATRA DIVIDEND
AMERICAN LOCOMOTIVE OPERA
TIONS.

The American Locomotive Company
il operating at between 80 and 35 per
cent of capacity. Three plants are
operating while the Pittsburgh plant
is shut down. The company, some
time ago. was dickering for a sub
stantial order from a Spanish road,
but was outbid by a German concern
The Washington times., 1921-04-13
DUTCH GOLD FOR rooDsTUFFs.

Gold to the amount OF $4,000. 900 ar
rived yesterday for the account OF
the Federal Reserve Bank of New
York. The precious metal came from
Amsterdam and will be used for the
purchase of foodstuffs.
The Washington times., 1921-04-13
u - i ~ n .
DIRECTORS TO MEET.

A meeting will be held today of the
directors of the Washington Virginia
hallway. Among the matters ex-
pected to come up is the election of a
president to NIL the vacancy caused
by the death Sunday in Philadelphia
OF Howard s. Graham. Mr.. Graham
also was senior member of the Arm of
Graham. Parsons & Co.. Philadelphia
bankers.
The Washington times., 1921-04-13
A NEW RECORD.

This is the first time in the MEM
ory OF the oldest trader that no ad-
vance dope was to be had on an i'm
portant happening in the Capital. The
answer Is tSat this Is the first time
that a newspaper man has occupied
the White House.
The Washington times., 1921-04-13
American Telephone & TeIephone Co.

A quarterly dividend Of Two Dollars per
share will be paid on Friday, April Is, 1921.
Z" stockholders of record at the close of
business on Friday, March is. 1921.
On account of the Annual Meeting. the
transfer books will be closed from Satur-
day. March 10. to Tuesday, March 2s. 1891.
both days included.
G. d. MILNE, Treasurer.
The Washington times., 1921-04-13
Steel Prices Cut
Beginning Today

NEW YORK, April 13.-Elbert H. Gary, chairman of
the United States Steel Corporation yesterday announced
substantial cuts in the prices Of its principal products.
For months the business community has waited for
indication that the leader Of the steel industry ready
to Join in the downward readiustment movement.
The Washington times., 1921-04-13
w. ID. HOOVER RETURNS

w. u. Hoover, president of the
National Savings and Trust Com
pany. has returned to Washington
from Arizona after attending the
wedding Of his daughter and visit
ing friends.
The Washington times., 1921-04-13
LIBERTY BOND OPENINGS.

NEW YORK, April 13-openins
Liberty bonds: 3h's 90.06; first AVS
S7.56: second AXIS. S7.4S: third AVS
90.70; fourth AVS, $3.50; Victory
3%'s, 97.5s; Victory, ANS, 97.8o.
The Washington times., 1921-04-13
GET BETTER HIDE PRICES.

CHICAGO, April 1.-TWO cars OF
packer bull hides sold at 71ac a pound
today, an advance of &c a pound over
previous sales. An offer OF 16c has
been refused by one packer. who is
holding out for higher prices for his
accumulation OF calfskins- Another
The Washington times., 1921-04-13
Prosperity Returning

dealer declined an offer of 6I5c for a
lot of 800 damaged skins, while sew
eral small packers refused SC fo-
April hides.
The Washington times., 1921-04-13
Investors Service

be
service without
be
D.
The Washington times., 1921-04-13

the property is probably idle and the
company dead. AS late as September,
1918, mail addressed to the former Of
nee in Los Angeles was returned un-
claimed.
The Washington times., 1921-04-13
NEW YORK COTTON.

NEW YORK, April 1s.-opcning
cotton: May. 12.oo; July. 1880; oc-
tober. 13.1f: December. 1349: Janu-
airy, 1855: March, 1890.