davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1921-05-26
STEADY TONE
RULES ON CURB
Absence of Pronounced Pres.
sufe Important Feature.
Trend Downward.

NEW YORK. May 25.-The Broad
street curb showed a generally
steady tone. with quiet trading in
nearly all the prominent issues.
the most important feature of the
market being an absence of any
pronounced pressure even in the
shape of an overflow from the
heavy selling that was the feature
of the trading on the stock ex-
change The majority of issues
moved downward. but losses were
practically in all cases of small
fractions and of little Importance.
Interest was attached to the con-
fusion in regard TO the conditions
under which the Glen Alden coal
stock is offered for subscription. IL
was stated by officials of the com
pany that the subscription rights
are transferable. although no war
rants will be issued by the com
pany before the certificates are de-
Iivered in August. but in the past
few days uncertainty in regard to
transfer increased and today there
was a halt in the dealings of Lack
awanna rights. Glen Alden was
traded in on a moderate scale at
IS to ASK. There were no trans
actions in the Reading rights.
Southern Coal and Iron was an
exceptionally strong feature. SELL
ing at AZ to AZ. Acme Packers
sold at new low record of 2k.
There was a fair amount of busi-
ness in British American Tobacco
at Is and 13h. Durant Motors sold
during the forenoon and advanced
to 24ii after the announcement of
absorption of the Sheridan company.
Petroleum stocks showed a heavy
tone. with fractional losses. Mer-
ritz Ou- sold down to the new low
of 10. Simms Petroleum ranged
from sh to tx. and Maracaibo sold
at 29 to 2sA. International Petro-
leum was firm. with sales at l5S
to Is. Elk Basin was traded in
at 7S and y, and the rights sold
at u and y.
The Washington herald., 1921-05-26
STATE OF WEATHER
DOMINATES WHEAT
Profit Taking Brings Reaction
From Early High
Figure.

CHICAGO, May 25.-wheat has be-
come entirely a weather affair. The
opening was easy on reports of l
inch of rain at Dodge City, Kan,
and a few showers at other points
in that state and declined to 1.33
for July only to jump to s136%
quskly with numerous "stop-loss"
orders caught on the way up. There
was extremely heavy profit-taking
on the bulge by commission houses
and a reaction of around cents
from the high point followed. Very
rapid price changes have always
featured weather markets and the
action today was not surprising to
the trade. May showed increased
congestion and while slightly lower
at one time advanced to s1.s5 by
noon. or nearly 10 cents above the
old high figure of the crop. Buying
by scattered shorts was responsible
for the bulge in May as there was
little wheat offered on the way up.
Sales of 10000 bushels of wheat
were made to go to store, making
$1,000 bushels sold in the past two
days. The country is offering wheat
to arrive freely. and two cars have
been consigned to Chicago from
Scotland. Ont. SHOWS report from
Nebraska and Lecount's report from
Missouri were construed as bullish.
and the government weekly weather
and crop report suggested that the
Kansas crop was deteriorating. Corn
and oats were unsettled. breaking
early only to advance with wheat
later and then ease of sharply. Out
side interest Is increasing in both
grains. but the greater part of the
strength in corn has been in SYM
pathy with wheat. Country offerings
CT both grains were large with one
house buying over 100000 bushels of
corn to arrive and it is estimated
that sales today exceeded 100000
buxhsfs which was hedged by sales
of futures
The Washington herald., 1921-05-26
CROP
REPORT aids MART
Commission House and Trad
ers Heavy Buyers in Spec
ulative Trading.

NEW YORK. May 25.-A crop re-
port was put out today by local
Arm of a very sensational charac-
ter. 1t claimed the average condi-
tion of the crop to be as low as 65.4
per cent to the date of May Is with
the reduction in the acreage about
3Oh per cent from last years gov
ernment figures and that the indi-
Gated yield from such conditions
with normal weather throughout
the season was for a total crop OF
only '7,600,000 bales without linters.
The report referred to claims that
the present acreage is but 24,7s6,000
and that the low temperatures ano
rains have retarded the proper
termination OF the seed to such an
extent the season is now about two
weeks late.
1t is only fair to state, however.
that since its report was compiled
to the average date of May Is, the
weather conditions throughout the
belt have been almost perfect. 1t
is therefore assumed considerable
replanting has been done and the
condition of the crop averages
higher than its figures Indicate.
There was a good deal of local
speculative buying on this report
yesterday afternoon when the mar
ket closed firm at a net advance Of
25 to 80 points on the day. There
was more of such buying from the
opening this morning as its figures
became known among local traders
and commission houses. In addi-
ton to their influence was the fur
ther sensational rise in wheat
prices on the Chicago board Of
trade making over so cents per
bushel maximum advance on May
and IS cents on July from the low
levels of about six weeks ago. As
this advance in wheat has been
caused mostly by a crop scare II
brought in a good deal of western
buying of cotton and also some
further large purchases in Wall
street stock operators notwith-
standing the continued unsettled
conditions prevailing on the stock
market. and the Liverpool market
making only a little more response
to our rise OF yesterday than had
been expected. Spot cotton there
was advanced Is English points to
the present basis of 7.42d for mid
ding with the days sales 1000
bales. while futures closed steady
at is to II points net advance on
the day against 10 to IL due to have
met our closing prices Of yester-
day.
The Washington herald., 1921-05-26

element found that even in the case
OF stocks that displayed softness
the level beyond which reactions
could not pe carried without run
ming into real buying was only q
short distance under the market az
II stood at the opening.
one of the markets strong spots
was United States Realty and I'm
provement Traders sold Il yester-
Gay In common with otSe stocks
and for no apparent reason but that
eagerness TO sell was changed into
buying demand today probably for
the reason that the few shorts who
were bold enough to attack realty
found no cause for grstifcation-
from their own point Of vIew-in
the forecast Of the annual state
ment to be published late this week
Realty's fiscal year ends April 30.
In one quarter that showed a pro-
nounced leaning toward this stock
on its rise from 41h on March II
to 5s& on May is It was stated to-
day that the report would show
earnings at the rate Of SIS a share,
compared with s5.55 a share in the
previous fiscal year.
The Washington herald., 1921-05-26
EXPERTS DECLARE
SALES TAX WOULD
TRANSFER BURDEN
State Adoption of New
Plan Means Greater
Complication.
SAY METHOD FAILS
Yale Professor Sees Effort 20
Remove Revenue on
Incomes.

Arguments against the sales tar
were presented 10 the senate finance
committee yesterday by Prof. Fred
r. FairchiId. of Yale university, and
J. +. Zollers. tax attorney for the
General Electric company. Science
tady, n. Y. Both witnesses made
a deep impression upon the COM
aittee and the manner in which
their testimony was receives
strengthened the steadily growing
impression that a majority Of the
committee will line up against the
sales tax.
Both Prof. Fsirchild and Mr.. zoI-
lers contended that the result OF
the operation Of the limited saies
tax in effect in Canada did not
furnish any very important evi-
dence as to the effect OF the gem
eral turnover tax such as is being
advocated in the United States. Mr..
Zollers declared that as a matter
of fact the Canadian sales tax IN
not much more extensive than the
system Of special excise taxes IL
effect in the United States.
Canadian Law Different.
He pointed out that while the
Canadian law imposes general
sales tax upon sales by manufac-
turers and wholesalers. IL contains
so many exemptions applying TO
entire industries that the net re-
suit is similar to what IL would
have been il the taxes were inn
posed only on transactions Of spe-
cific industries.
Prof. Fairchild expressed the opin-
ion that IL the sales tax il added
without doing away with a con-
siderable part Of the present TAX
system there will be no greater
simplicity in administration. He de-
clsred, further. that IL many ex-
emptions are made in the sales
taxes all arguments for a gross turn
over tax will be destroyed. He also
expressed the belief that the sales
tax Is advocated by those who wish
TO see the burden Of government
shifted from those who pay in
come taxes to the consumers.
He said he believed the ultimate
abolition OF the income tax sys-
tenn is the purpose which many
sales tax Supporters have in view.
Senator Penrose interrupted TO re-
mark that he had received no such
intimation in letters which he had
received on the subject. Senator
Penrose expressed the opinion that
the income tax has come to stay.
Warns of Complication
The sales tax has nothing 20
commend IL as a substitute for our
present tax system" declared Prof.
Fairchild. 1t IL not needed to
make possible the repeal Of the
excess profits tax or the removal
of other obnoxious taxes.
1T is not needed TO balance the
budget Why, then, should we ac-
cept it? Let us beware lest we
find ourselves strsddled with a great
new tax device which will prove
to be simply a general tax; yield
ing a revenue OF an economic al
ministration. inviting congress to
new forms OF eNtravaEance and
vasteful expe nditure: discriminating
unJustly between different business
concerns and adding to the costs
Of all business just at the time
when business is struggling 20 get
back on its feet"
The Washington herald., 1921-05-26
DENIES FAILURE
OF KANSAS WHEAT

TOPEKA, Kans.. May 25.-Kansas
is still optimistic about its wheat
crop.
Grain quotations advanced sharp
ly in the last few days, due to re-
ports of a drought in Kansas and
Nebraska. The wheat crop was
still looking good today, ]. c.
Mohler. secretary OF the department
of agriculture, announced. although
he said considerable damage had
been done in a few Of the smaller
wheat producing counties. \
Mohler denied the report circuH
lated on leading markets that -
100000 bushels of Kansas wheat
had gone to pieces" Inuica..vIIs
today were that showers would
fall over the state within the next
twenty-four hours and relieve the
situation.
The Washington herald., 1921-05-26
WASHINGTON PRODUCE.

Eggs-Nearby, CSC: Southern, 23c;
average receipts, 21a22c.
Butter-Print. 35a3sc; creamery.
extra. 3oa32c: store packed, 15a1sc.
on nearbys. 22a2lc; Southern butter,
tubs. 30a35c.
Poultry-Alive: Roosters, 1Sa20c;
turkeys, 30as3c; spring chickens,
50a60c: whito Leghorns, 4oa5oc;
hens. 2sa30c; keats. 75c: dressed
fowls, 35a3Sc; turkeys. 4oc; roosters,
22a23c.
Green Fruits-Apples, Western.
per box. s3.50a4.50; apples, per bbl.,
s3a10: pineapples, si5oa5: Califor-
MIA oranges. s6aS.50; California
lemons, per box. s4.50a5.5o; grape
fruit. per crate, ssaS.50: Florida
oranges, ssa6.5o; Strawberries, 12ha
30c qt.
Vegetables-Potato nearby, per
Dbl, s1.5oa175; Northern, per sack,
s2.00a2.25: string beans. per basket,
Florida, s2-00a2.50: South Carolina.
s2.5oa3.50; new cabbage, s2.5oa2.75.
per ct; beets, per bunch, SAFE;
lettuce, romaine, per crate, $1.25
az; peppers. per crate, s3a4; Gym
lings, per crate. s3.50a4; eggplant,
per crate. s3.ooa4.5o; onions, Texas,
s2a2.25 per ct; spinach. per bbl.,
s2.5oas; Florida tomatoes, per ct,
$450a5; sweet potatoes, per bbl.,
ssa7; yams. $5as; Florida celery,
per crate, s4.50a5; bunch, celery,
$1.25a1.5o; peas. 1-2 bus. basket,
2.50a3.00.
Veal. calves. sa11c: lambs. 12a14c.
Z. s. Department of Agriculture
Bureau of Markets.
Based on May % quotations in
important markets. prices for hay
feed and grain in carlots delivered
Washington, d. c., for prompt ship
ment are quoted as follows:
No. 1 timothy hay, $500 ton;
No. 2 timothy hay, s23.50; No. /
clover mixed. $3.50; spring wheat
bran, s25.00; spring wheat mid
dlings, s24.00: cotton seed meal f3t
per cent?. $3.50; old process lin
seed meal, $3.50; gluten feed
$4,000; hominy feed (white). s31.00;
dried beet pulp. s2s.5o; No. 2 white
corn. SEC bushel; No. yellow corn
sic: No. 3 white corn. Sic: No. 3
yellow corn. soc; No. white oats
53c: No. . white oats, SEC.
The following commodities may
be obtained from local dealers IN
carlots, basis cash payment. al
prices quoted:
No. 1 timothy {western) hay
s27.o0 ton; No. timothy fwestern,
hay, $500: No. clover mixed
$500; spring wheat bran, $500;
winter whest bran. $3.50; standard
middlings, $500; four middlinss
$500: cottonseed meal t36 peI
cent?, $3.50; gluten feed. $4,000;
hominy feed twhite), $4,000. Flour
Soft winter straight (140 lbs
jute). $3.50 to $50 per Dbl; hard
winter straight t14o lbs. jute), ss.a5
to $1,000 per bbl: fancy spring pat
ent family brandy. $500 to io.5s
per bbl: No. white corn. s4c pcu
bus (bags extra); No. yellow corn
sac per bus fbsgs extra); No: !
white corn, S5c per bus
The Washington herald., 1921-05-26
TIMELY WALL STREET TOPICS

Trading in the stock market mar
rowed down today as the pressure
of short selling became less severe.
operators continued to play for the
decline but they seemed bit more
wary, probably for the reason that
as an aid to yesterdays operations
6hey had used about every bear ar
gument that could be mustered. Is
sues which we're the weakest on
Tuesday were practically ignored
for long periods today while 9TH
ers were taken up and sold for the
decline ON fimsy pretexts or with
out any excuse at all. The short
The Washington herald., 1921-05-26
METAL MARKET.

NEW YORK. May 25.-A partial
recovery is reported in London tin
prices, spot being fl higher at
f1S2, and futures 15s higher at
f1s2 Ss. sales 20 tons and $50 tons.
Spot standard copper is l5s higher
at f74 1Ss,, and futures los higher.
at ga los, sales $50 tons futures
is unchanged at E76.
Spot lead is IS Sd higher at f24 Is
Cd. and spelter SIS higher at E2S.
The Washington herald., 1921-05-26
COTTONSEED OIL.

NEW YORK, May 25.-Cottonseed
Oil was easy. Spot, us bid: crude,
$50 Bid. Futures-May. 7.50aS.0
June, 7.0oa74o; July, 7.25a7.34; Au-
gust, 7.4es7.4s; September. 7e4a7.ss:
October 7.7sa77s; November. 7.7oa
7.S4; December, 7.7oa7S5.
The Washington herald., 1921-05-26
Sheridan Auto Co.
Is Sold to Durant

MUNCIE, Ina. May 2S-rhe
sheridan Motor company. eper-
sted By the Geserai Motor. cor
porntien. was sold 10 . syndicate
Of automobile hnanciers headed
By william Durant. according to
an announcement made here to-
day.
Daniel A. Burke, president of
the sheridan company, is inter-
ested In the new project. It In
believed the sale was close to q
SS,00o, 900 transaction.
The Washington herald., 1921-05-26
Favors Piece Work.

He had been much opposed to the
abolition of piece work, but 1t was
outside his province at the time to
criticise the rulings made. He ap-
parently believes this to be the
principal single factor in the de-
cline of shop efficiency. but II is
joined with many psychological
factors as well as the working OF
minor rules to effect a serious de-
moralization in the working force
His testimony directed to meet the
allegation that locomotive repair
work was sent to outside shops as
a measure of lighting the crafts
unions in the railroad shops or for
giving work to friendly interests
was a very full and circumstantial
denial.
The locomotive efficiencies on his
road are apparently we'll main
tanned. s6 per cent of his engine:
having superheaters. ss per cent
having arches, while some oi
boosters are now undergoing serv-
ice tests. The results of concen-
tration on the condition of the
power are indicated in the train
load record of tons per train mile
for 1915. s22: 1915. SAT: 1917, o27;
1918, 975; 1919. e45; 1920. $50.
He was very explicit about the
condition of undermaintenance in
which the equipment was turned
back to its owners by the gov
ernment. The freight cars were so
per cent of home rails and were
in very bad condition when return
ed. The locomotive roster had not
been kept up by new locomotives
as private management had done,
the difference reaching a total OF
$4,000. 900 constructive locomotive
miles.
No Criticism Intended.
In reciting the conditions as he
found them. Mr.. Smith insisted that
these statements conveyed no criti-
cism, direct or implied. The con-
ditions confronting the director
general in war times were suffi-
The Washington herald., 1921-05-26
BY J. SHIRLEY EATON.

A. H. Smiths testimony in the
past few days has shown in great
detail the effects of the various
wage increases, but the large losses
which could not>be located were in
the decline of effectiveness Of labor.
and this, in his opinion, may be
ascribed in large measure to the
national wage agreements. One of
the provisions of these agreements
abolished piece work. The full ef-
feet of these rulings was illus
trated by the results of one par
ticular shop which did practically
the same volume and character of
work in 1915 and 1920.
1915. 1890.
Men employed. 2,7a9 4.52l
Cost ........ 2,sO3,7OO $3.50, 900
In general he said there was an
increase OF sos percent in force. OF
1877 per cent in money paid and but
2 per cent increase in output. This
was the showing of his five prin-
cipal shops. The story is told IN
another way by the number Of man
hours per shop per 1000 shop miles.
The shop mile is a statistical fg-
urre Of the number of potential en-
gine miles restored, to equipment
by repairing it and bringing II
back to efficient condition.
The Washington herald., 1921-05-26

Ine eXpUrt CItdTdHCes IUr IHe
seven principal ports of the Allan
tic seaboard (New York, Boston,
Philadelphia, Baltimore, Newport
News, Galveston, and New Orleans)
thus far this week as compared
with the corresponding day of last
week have been as follows:
Flour. Wheat. Corn.
To-day 5000 $4,000 12s, 900
This week. $4,000 1888, 900 24s,oeo
Last week. 117,0o0 3,6S5,o00 263,0o0
The Washington herald., 1921-05-26
Breadstuff Movements

NEW YORK, May 25.-The follow
ing shows the movement of bread
stuffs at New York today in bush
els of grain and barrels of -four:
The Washington herald., 1921-05-26

urnished by W. B. Hibbs e Co., memb
Chicago Board Of Trade.)
The Washington herald., 1921-05-26

The export clearances for the
Omaha daily bee., 1921-11-30
Liberty Bond
SWindler Given
Prison Sentence
Ross P. Johnson Pleads Guilty
To Perpetrating $4,000
Fraud on Trust Com
pany.

Ross p. Johnson, alias Harmon,
charged with forgery in connection
with the swindling of the United
States Trust company OF $1,000 in
liberty bonds several months ago,
pleaded guilty to the charge in dis
trict court late yesterday, and was
sentenced to from three to five
years in the penitentiary.
Johnson was extradited from Can
ada by local officials. He posed as
a prosperous contractor during his
former visit here. He forged check
and its certification on the First Ma
tional bank. He then hired Frank
McCumber, an ex-service man, to be
his "chief accountant in the office. =
Johnson instructed McCumber to
take the certified check to the Uni
ted States Thust company for $4,000
worth of liberty bonds. McCumbes
did so, obtained the bonds, and de-
livered them to Johnson, he said.
Johnson failed to meet McCumber
later as he had stated he would and
McCumber became suspicious and
reported the matter to the police. 1t
was then that the fraud was dis
covered.
Johnson at. first refused to plead
guilty. On the advice of his wife
and the county attorney, however.
he did so yesterday.
Omaha daily bee., 1921-11-30
Heroism in Film Fire
Costs Yale Man Life

New Haven, Conn, Nov. %
Two more persons, burned in
the fire which destroyed the Rialto
theater Sunday night, died today,
making the actual death list six, the
coroner having eliminated the name
Of Timothy Hanlon, who was a vic
tim of heart disease Those who
died today were Everett Case and
Victor Cortclle, both of this city.
The deaths last night were those
of Allen Keith Yale sophomore,
whose home was in South Port,
Conn, and Miss Mabel Moran, a
telephone operator of Derby, Conn
Keith, after getting out OF the
theater unharmed, returned and as
sisted a number OF women out OF
the place, returning again to search
for others. On his last trip inside,
which he prolonged in order to
grope about in the smoke, he was
burned severely.
Many Yale students assisted in
rescues. it developed today.
T. E. and A. H. Dolittle OF Spo-
kane, Wash, are twins, and botiI
were hurt and taken to different
hospitals. George Heffelfinger, "a.
of Wayzata. Mimi, nephew OF
"Pudge" Heffelfnger, famous foot
ball player, stood inside and divided
the crowd so that it used two doors.
He lowered oyer the people he was
ordering to obey his commands.
Omaha daily bee., 1921-11-30
Heavy Damage Done by
Pennsylvania Floods

Pittsburgh. Nov. 2o.-Thc first
November flood in more than 20
years was today sweeping down the
Ohio river from the upper reaches /,
of the Monongahela and Allegheny,
the result of an almost continuous
rainfall for several days. The food
stage, q feet at the Point bridge.
was reached before daybreak and a
few hours later the Ohio was rising
three-tenths of a foot an hour.
Scores Of persons living in tho
lowlands Of the northside were taken
from their homes in boats by ths
police. while rising waters compelled
the suspension of operations in a
number of mills and factories.
Reports from points along the Mo.
nongahela river said the damage
would be heavy, but no estimate
could be made until the food had
receded.
Omaha daily bee., 1921-11-30
Vanderlip Scores Pact
As an Unwise Document

New York, Nov. 2o.-Frank A.
Vanderlip, New York banker, who
has just completed tour of Europe,
declared in an address before the
Economic club last night that the
treaty OF Versailles was "thc most
unwise document ever struck off
from the mind of man."
Before the world could be restor-
ed to normal conditions, he said, the
treaty would have to be rewritten
and the map of Europe redrawn.
The speaker asserted that Germany
would not be able to meet her in
denlnity payments and that when she
tailed to meet them anything might
happen from a revolution in Ger
many to the break down of civilizs-
ton in western Europe"
AS remedy other than the re-
drafting of the treaty and the re-
drawing of the map of Europe he
suggested a federalized Europe.
something like a United States of
Europe"
Omaha daily bee., 1921-11-30
Bulls Facing
25-Year Term
In Penitentiary
Man Found Guilty of Receiv-
ing Stolen Property Con-
victed Also Under Habit
ual Criminal Act.

Ii required little more than an
hour for the jury in Judge
George w. Cullison's division
of the district court at Coun-
Gil Bluffs to reach the con
clusion that William Bulls was
guilty of receiving and concealing
stolen property on the Lena Schnei-
der bandit farm as charged in the
grand jury indictment.
The verdict carries the maximum
penalty of five years in prison bu:
answering affirmatively three inter-
rogatories submitted by the court
upon the demand of the state, Bulls
was also declared to be an habitual
criminal, which calls for imprison-
ment not less than rs years, and
there is some reason for believing
that the mans fate may fall within
the provisions made by the Iowa
legislature last winter when i.
amended section 9044 by inserting
the words, mot more than 40 years."
1t is the opinion of County Attor-
ney Swanson, however, that section
5o9l-a will govern, which fixes the
punishment at Is years. Rules of
the parole board, it is understood. do
not make habitual criminals eligi-
Bile for parole appeals until the
lapse Of IS years.
Affirmative answers to the three
interrogatories that convicted Bulls
OF being an habitual criminal we're:
WAS he convicted at Tekamah.
Neb., on May IA, 1904 of burglary
and sentenced to seven years?"
Was he convicted at Vermillion,
5. D., April 7, 1910, and sentenced to
tour years."
WAS he convicted at Columbus,
Neb., September 27, 1917, and
sentenced to nine years and nine
months?'
j.. J. Hess, counsel for Bulls, inn
mediately gave notice that he would
ask for new trial and Judge Culli-
son gave him until December S to
present his motion.