davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
US. Has Large Tax
Claims On Steel Corp.

Reports that Government officials have been in confer
with officials of the United States Steel Corporation in
regard to claims against the latter for back taxes tosng
approximately S6000000 have been confirmed at the offices
of the Steel Corporation This amount equivalent to ap
proxmate $180 share the 5083O26 shares OF common
stock outstanding.
United States Steel in making income tax returns for
1917 and 1918 raised questions regard to certain items
believing them taxable claimed credit for them in the
So far the question of whether the Steel
pay these has been determined and according
to statement from Judge Ebert Gary chairman OF the
corporation there of determining when decision
will be reached stas
Judge Garys statement follows:
In making income tax returns to the Government
for 1917 and 1918 raised questions concerning stems
voving approximately $600000 of taxes Believing these
taxable claimed credit for them in returns
Recently the Government representatives have been discuss
ing with us the question relating to these items.
They have not been decided has any OF them been
decided We have of determining when decision
will be reached" fr
1t is doubtful of course, how many of these claims
must be paid However if the whole amount should
be paid United States Stees undivided surplus OF $623
891 and it's appropriated surplus of Will not
decreased but the would be paid from the contingent
miscellaneous operating and other funds item On
December 81 1920 this item totaled over twice
the amount required for the full payment OF these claims
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
Weekly Grair, ReuielU

nson Mckinnon.
threshing returns showing rather
light weight.
Cooler weather has checked the
menace Of rust, but premature ripen'
ing is likely TO be disclosed by
ultimate returns, even in Canada. In
the Southwest the producer IA selling
rather freely, the bulk of the offer
ings moving to the seaboard ports
20 such an extent that some conges'
ton appears at Gulf points. Milling
trade is fair, but cannot be called
active.
During the week cables have
emphasized drought conditions In
southwestern Russia. These CABLES
also carry appeals for help to prevent
widespread famine. Japan has taken
wheat for shipment via the Gulf az
well as from the Pacific coast. and
one or two cargoes have been ship
ped from the Atlantic seaboari To
South America
These items suggest a consider
able breath of foreign demand dur
ing the crop year, but for the
present the foreign buying Is not
Urgent, being held in check by lack
pleted loans in this country and In
england and is negotiating more. II
s understood these loans will be
used for the purchase of foods.
There is considerable unanimity OF
belief that higher prices will prevail
before the present crop is entirely
marketed, but just at the present
time the market is on debatable
ground. it's immediate future Ringing
considerably on the character OF
weather in the Canadian west, where
the crop will not be fully maturcd
Tor another two weeks at least.
The corn belt has received some
rain, but is in need of more. Lower
temperatures havo prevented extreme
damage by the heat. but @ few claims
Df damage filtering in to the market.
Forage crops abroad have suffered.
Threshing returns from this grain
continue to uncover small yields and
poor quality.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
Bankers Advise That
Short Term Bonds
Be Exchanged

Several leading banking houses
which make a specially of dealing
in bonds are advising their clients
to exchange holdings which ma
ture in the next few years for
long-term bonds.
This recommendation is being
offered on the theory that money
rates will gradually decline for an
indefinite period and bond prices
accordingly advanced.
As bonds near maturity they
move toward the price at which
they will be paid off.
MANY short-term issues falling
due this year are in this position,
so that the investor may now sell
his short-term bonds and place the
proceeds in long-term issues with
out any sacrifice of yield, but at
the same time secure an issue
with a high yield for many years
and also possibilities of apprecis-
ton in market price in the future.
Next year and the following
year bond prices may be substan-
TALLY higher, and the advantage
now offered will not be available
when these short-term bonds ma
ture in 1922 or 1928.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
BRONX CHILDREN HALT
ICE CREAM PROFlTEERS

NEW YORK, July 23.-The cam
paign started recently by Bronx
youngsters and their mothers to bring
down the price OF soda and ice cream
bore fruit today. when forty confec-
tioensr. several Of whom own chains
of stores, agreed to make reductions.
The new price will be IL cents for
a dish of ice cream and Is cents
war tax inclusive-for Ice cream
sodas. The cuts We're decided upon
at conference called by Mrs. Louis
Reed welzmiller. deputy commissioner
of public markets. Many Of the deal
ers, the deputy was informed, have
been getting II to 20 cents for ice
cream and sodas. Dealers declared
wartime prices for the CONNECTIONS
would prevail when served at tables,
but Mrs. Welzmiller urged the public
to keep up the fight by sitting or
standing at the counters.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
j. s. MAY EXTEND
POWERS Of WAR
. FINANCE BOARD
Congress Favors Plan to Have
Corporation Handle Rail-
road Problem.
BY j. BART CAMPBELL.
international News Service.

The Administration's proposal for a
further extension nj the powsr. NJ m.
Nv
nance corporation 10 permit IL
to tackle some OF the big financial and
commercial problems confronting the
country is finding favor in Congress.
today.
Republican leaders have swung be.
hind the plan to have the corporation
finance the settlement of the railroad
situation without Congress having TO
dip into the Treasury again.
They are also supporting a move to
have the CORPORATION finan nee the ex.
port of surplus AGRICULTURAL products
in lieu of the scheme Of the pendins
Norris bill for the creation of a sepa.
rate Federal corporation for that pur.
pose.
No,-r;s Rm Onro..d
cena.or Lcose oi nassachusetts, the
u1poon ieaueI OF inc senate 10 OF
.ne opi,Ioli tnat ,here 10 no necessary
loI se.ons up the Norris corporation
when lnachine.y LOT .ne Promotlon OF
the eAport ,aae OF the United states
70 81. possesseo ny the war FL
n"'e ooI poraeoh.
&c. ues , IN at the oehatoI,al
.,detrackine ~ ~. moyr, n,sr 80 the
War Finance Corporation is more fully
empowered to meet the demand for
foreign markets for the American
farmers.
President Harding Ia being assisted
by Secretary of the Treasury Mellon.
Secretary of Commerce Hoover and
Senator Cummins Republican) OF
Iowa, chairman of the Senate Inter.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
AMERICAN WOODEN
CO. TO OPEN BIG
LINE TOMORROW
As Spring List Is Brought Out
Trade Expects Success
From Start.

American Wooden Company will
open its principal spring lines tomor-
row, and feeling is general in the
trade that offerings VIII be met with
pronounced success,
Goods offered will include all stand
ard serges, clays, worsteds. fancy ana
staple woolens and women's coatings,
suitings and dress fabrics.
Many buyers had their orders dras-
ticalIy scaled down last spring and ex-
perienced difficulty IN meeting their
needs. and large numbers OF out-of-
town buyers are in New York city
anxious to buy.
Consequently. the demand is ex-
pected TO be good.
Although many OF the smaller con-
Germs will not hold their openings I'M
I'll August. it il thought the decision
of the American Wooden Company to
hold it's usual early opening this year
will do much to bring conditions back
to a normal basis and will aid In es-
tablishing confidence among retailers.
One reason for uncertainty last
spring was the lateness of openings,
which did not give the mills sufficient
time to complete manufacture Of goods
ordered.
The settlement of the New York
clothing strike and peaceful labor con.
ditions in other markets will also do
much to increase volume of business.
Last year. New York. which is the
largest clothing center in the country,
did only Is per cent of It's normal bust
ness. and even those manufacturers
who We're able to operate did not get
their normal quota Of business, since
retailers We're afraid of the general
uncertainty.
There are many who feel that they
will be lower. but no drastic changes
either up or down are expected.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
GERMANS AT WORK,
SAYS SHIP man,
BACK FROM EUROPE
Haig, Of Sun Company, Sees
British shipbuiIding In De-
moralized Condition.

: Robert Haig. vice president of the
Sun Shipbuilding Company, OF Phtlar
delphia, speaking yesterday Of his
recent observations In England and
Germany. sRid:
THE shipbuilding business in Eng
land was in very demoralized condt-
ton owing to the serious coal strike.
Most of the yards were closed; others
that were not closed were doing 90
of the whole industry.
The shipping business was further
demoralized by the sale last year Of
the government-owned ships during
the war and this year by. the forced
sale of the ex-German ships. Ship
builders In some yards have prac-
tically nothing to do. Other yards
have contracts that are In strong
hands and their work will 90 ahead
now that the strike IL over. but in
every sense the industry 10 In a very
bad condition.
ION my visit to Germany, found
that trade conditions had very much
improved. The German seems to
have settled down to his well-known
industry and has forgotten all his
political upheavals, with the result
that his people are much MOTE con-
tented and seemingly in much better
condition.
There Is not the serious shortage of
food that was to be seen last winter:
I found that the German shipyards
were exceedingly busy, and they
stated that they had work UP until
1923. This condition II very largely
brought about by their low cost.
Their tonnage price today il very
much under anything else that has
been offered.
"A very large amount of tonnage
is laid up in Europe. In the Swedish
and Norwegian ports they are prac-
tically jammed with idle ships. This
Is also the case in England. and. of
course, It was made doubly worse
by the strike laying UP all the ships
that were engaged In the coal trade.
which amounts to great deal In
England.
Further. Notwithstanding the I'M
settled, seemingly serious condition.
shipbuilders were more optimistic
than otherwise. and thought that
they had seen the worst and that
better times would develop this
winter and next spring"
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
U. S. SEEKS DATA ON NOTES
OF AUSTRO-HUNCARY BANK

The State Department issued a
warning yesterday to American hold
ers of currency notes of the Austro-
Hungarian Bank to furnish the de-
partment with complete Information
regarding the matter in view of the
pending liquidation of the bank. The
department further suggested that In
view OF the dissolution Of the Austro-
Hungarian monarchy and the readjust-
ment Of public finances incident there
to II would be desirable that the de-
partment bu furnished with informa-
ton regarding Austrian or Hungarian
bonds Or other securities held by
Americans.
The department requests the follow
ing information: Names and addresses
of holders of securities and notes; a
definite description of SIch obligations,
including amount, jates of issuance
and serial numbers; dates of scquisi.
ton Of obligations, and names Of per-
SONS from whom acquired.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
ELECTRICAL DEALERS
DEFEAT OPEN SHOPS

BUFFALO, July 23.-Afrer hot
fight on the floor of the convention
this afternoon the National Associa-
ton of Electrical Contractors and
Dealers voted down a proposition to
put the association on an opens shop
basis. Action was taken following a
recommendation made on the floor
that the associations council of ten,
which now arbitrates all differences
between labor and employees be dis
continued. Proponents Of the open
shop were lined up solidly behind the
resolution.
James p. Noonan. president. Of the
international Brotherhood of Electrical
Workers, was present and personally
directed the fight against the open
shop resolution. The vote on the
proposition was rs to %.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
GRAIN TRANSIT RULES
ARE SLIGHTLY, MODIFIED

governing the rates on grain accorded
transit at Chicago distric stop-over
points yesterday was found justified
by the Interstate Commerce Commits
sion.
The commission ordered that the
words ''or rate basing point" be elm
mated from the rule. The present rule
was established January 20, 1921. For
many years prior thereto It did not
contain these words, and the commits
sion was informed that their inclusion
in the present tariffs was the result
of an error.
The words rate basing point" as
used In the present rule means a point
between the points of origin and Chi
cago At which the shipments, may be
accorded transit.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
OCEAN RATES ON
COTTON AND WHEAT
SHOWING DECLINE
Approximately Fifty Per Cent
Lower in July Compared
To November.
by international New. Service.

Ocean freight rates on cotton and
wheat moving from North Atlantic
ports to the United Kingdom were
approximately so per cent lower on
July i last than on November J.,
1920, according to data transmitted
today to the Department of Agri.
culture by the Shipping Board.
This decline corresponds substan-
TALLY to the price declines Of those
commodities during the same period,
SO that the ratio between the freight
rates and prices remains relatively
the same, Department of Agriculture
officials pointed out.
The ocean freight rate on cotton to
the United Kingdom was $1.10 per
100 pounds of November 1. 1920. or
40 per cent OF the value OF the cot
ton as represented by the quotation
on that date. On July I last, when
the ocean freight rate was 52h cents
per 100 pounds, the ratio between
the freight rate and the price OF cot.
on was a. per cent. In other words,
says the department, the ratio be.
tween the freight rate and the price
Of cotton was one-haif of per cent
less than on November 1. 1920.
I Tn NoNeUlDcf 4, i3NV, mo. REQ
wheat was quoted In New York at
s2.34k a bushel, and the ocean
freight rate was 40 cents per 100
pounds, or at the rate of "a cents n
tushel. which represented 10.2 per
cent Of the value OF the wheat. On
July 1 last, with No. 2 red wheat
selling at s1.74h per bushel, the
freight rate was 81 cents per 100
pounds-12.6 cents per bushel-or SIS
per cent OF the value OF a bushel of
wheat. Both the price of wheat and
the freight rate may be SAID to repre-
sent a fair average FOL. June.
The decline in the rates and prices
other commodities was less marked.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24

for unpaid compensation during Gov
eminent control is also claimed by the
railroads.
What the Administration particu-
larly desires Is the adoption Of plan
whereby the railroads may be provided
with ready cash. to the extent prob
ably of $500. 1000 900, without Congress
having to appropriate any part of 1T,
and 1t is believed the powers Of the
War Finance Corporation can be so
extended as to permit it to arrange
for this.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
Killed In Fake Hold-Up.

FAIRvIEw, w. Va, July 23.--Sam
Gilleland, aged twenty-three, Is in jail
here for hearing set for July 81, in
connection with the killing of How.
ard Fritz. aged twenty-one, during a
fake holdup of poker game on hill
near here. Gilliland with Frank
Hoge. Hugh Knicely and Ross Snod
grass, are said to have agreed to stage
a scare, and, going to the scene Of the
game, Gilleland sprang out and waved
his revolver. Several of the players
seized him; and during the struggle
the weapon was discharged, the bull
let striking Fritz and causing imme
date death. All the participants in
the horseplay are close friends.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
Low GRADE COAL
MADE EFFICIENT
BY TRENT PROCESS
Bureau Of Mines Gets Success
ful Test From AmaIgam Fuel.
Big Possibilities.

The Bureau Of Mines has just
completed laboratory tests of the
efficiency of the Trent process for
producing a highly efficient fuel from
mixed coal and oil. Results were IA
vorable, fuel produced by the process
being IS per cent combustible.
Special value Of the process Is re
moval OF ash, or non-combusttble
mineral matter, from low grade coal.
Amount of ash removed in the bu.
reau's tests ranged from 80 to 10
per cent.
Essence of the process. IL In q
physical phenomenon which occurs
VIXEN water and oil are agitated with
powdered coal. Particles Of oil select
particles of coal almost entirely OK.
Guiding the water and mineral mat.
ter which 1t holds in lux.
Oil Can Be Reclaimed.
Using an oil which distills at lower
Temperature than the coal makes pos.
sible reclaiming the oil and results
In q powdered fuel. Use OF q heavy
oil containing much pitch produces a
coke product after distillation, al
though the coal used may have had
no coking quality.
Operation of the process il simple
consisting merely in churning the
mixture in much the same way as
butter and with similar pasty mass
q resulting. Paddles adapted in al
most any manner are sufficient for
the work. 1.
Coal Is first crushed fine. riddinG
II of extraneous mineral matter. then
mixed with water and put through
the Trent process, which separates IL
from the intrinsic mineral matter.
Proper amount of oil, the Bureau Of
Mines fouSd. is about 80 per cent IN
weight of the tonnage of dry coal
Any oil of moderate viscosity can
be employed.
Wide Commercial Possibilities.
Commercial possibilities are regard.
ed as quite broad. though not yet
fully examined. F'lue dust can thus
be converted into coke. graphite ore
separated from It's gangue and gas
house tar emulsions can be dehy,
drafted by mixing with powdered
coal. the amalgam being retorted for
further gas-making.
Probably the greatest advantage
lies in the ability to utilize low.
grade Goals and materials now con
sidered waste at the mines. by re.
raoval OF the large proportions VI
ASH.
Amalgam from which the oil is not
distilled can be handled mere readily
than other fuels, as besides being
shoveled it can be forced through
pipes and can be stored under wator
without detriment.
The process is the invention OF
Walter E. Trent and was presented
to the war inventions board during
the war. present experiments being
conducted at request of the War Dc.
partment. Other methods of clean.
ing coal which ordinary anthracite
washeries cannot handle have been
devised. but the Trent process is
probably the most satisfactory.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
BOARD PICKS OFFICERS
TO SERVE IN PRIMARY

, FREDERICKSBURG, Va, July
23.-The City Electoral Board. COM
posed of w. l.. Burrus. chairman:
Charles Insco Williams. secretary. and
Judge Alvin T. Embrey, has appoint
ed the following to serve as judges
and clerks in the Democratic primary
election on August 2
Lower Ward--Judges, J. Wilmore
Cox, Val Dannehl, ID. s. Russell;
clerks, w. Francis Rowe, Frank
Gouldman.
Upper Ward-Judges, j. Fred
Brown, A. Stuart Jones, p. N Stern:
clerks, c. J. Jones, Henry ID. Williams.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
"FlAPPERs' ARE BARRED
FROM CAPE MAY STREETS

CAPE MAY, N. j., July 23.-Clty
Commissioners at a special meeting
passed an ordinance forbidins the
parade of bathers In bathing suits
on the streets without suitable COW
erings. Older folks at the shore
have complained to the police about
'flappers' parading in suits, some
OF whom do an hours ,rrands Before
going 20 the beach.
The suits seen on the bathing
grounds here this season are of the
latest Parisian models.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
Weekly Financial ReDieD
BY HENRY ClEWS.
OF Henry Clsws 4 Co., New York Bankers.

NEW YORK. July 23.-President
Harding's leadership and his success
IN dealing with Congress, AZ shown by
the modification of the oil duties at his
request and the apparent intention to
lay aside the tariff until the question
of tax reform has been settled. are
proving an extremely hopeful factor
In the restoration OF = better tone
among business leaders.
There II now fun confidence that
the excess profits tax will be repealed
and some relief at least given In re-
gard TO surfaces before the end OF the
session. The development Of what ap-
pears to be definite plan for effect
Ing settlement between the Govern
mont and the railways has helped rail.
road stocks during the past week and
has encouraged outside buying.
Improvement In orders for struc-
ditions in the interior of the country
and ID partly q response to the cuts
that have already been made In quota
tons. There 10 also an improved ex.
port demand for leather, while the
establishment of some important for
eign credits indicates the restoration
of better conditions In connection with
the financing of our export trade.
Altogether the week has been q dis
tinctly hopeful period, not 20 much ~
for what has taken place a. for the
brighter outlook on the future which
10 afforded.
Getting Ready for Crop Movement.
Positive efforts are being made to
facilitate the crop movement of the
coming autumn and to make sure that
the large "carry-over" OF agricultural
commodities from last year does not
result in curtailing the amount oi
credit rendered available for use by
borrowers In the West and Southwest
The ''live stock pool and the sim
liar organizations which arc now being
formed to help cotton growers. coupled
with proposal on the part Of the Wan
Finance Corporation. to adopt more
liberal policy toward exports, are ex
rected 70 result in lifting the burden
of old credit demands from the banks
thus leaving them free to furnish AID
rs needed to the producers and dealers
In this years output OF agricultural
products.
Reduction of discount rates, both In
the Reserve System and at the Bank
Of England, to 5h per cent for ninety
day paper, once more gives evidences
of the intent to make money less ex
penstve for business purposes.
Improvement In railroad traffic re
ports shows that early crops are al
ready moving. while the figures for ex
port trade point to a moderate renewal
of foreign buying which Ii reflected in
strong demand for dollars with which
10 meet payments In this market
The present indications confirm the
belief that there will be a healthier
and more normal marketing of crops
this year than for some time past with
far more satisfactory results to farm,
crs even at the lower price now pre-
vailing than last year because of the
reduction In the cost of raising the
output.
Trade Developments.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24
Attend Institute Meeting.

Guy Il. Bowerman, executive man
ager; George +. Allen, educational
director Of the American Institute OF
Banking; ID. A. Mullen and r. w. Hill,
secretary of the American Institute of
Banking. were the members of the A.
r. A. official family in New York who
attended the American Institute OF
Banking Convention In Minneapolis
last week
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-07-24

Threshing returns from winter
wheat section continue to indicate
disappointment except in the Far
West and Southwest. where they are
more favorable. Harvest Of spring
wheat is well under way, the first