davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1921-11-13
COTTON ERRATIC
In LIGHTER TRADE
Selling Pressure Lessons
After Heavy Liquidation
In Earlier Periods.

NEW YORK, Nov. 1.-THE local
cotton market opened in very IT.
regular and unsettled condition TO-
day. Although trading was much
lighter and there was decidedly less
selling pressure in evidence follow
ing the heavy liquidation OF
Wednesday and Thursday trace
sentiment has been considerably
shaken by the weeks developments
plainly indicating much larger
crop than had been calculated upon
when prices were advancing SO
rapidly in August. September and
the early part of October. While
there was a good deal of profit-tak-
ing by recent short sellers and bet
ter support from some of the spot
houses and other trade interests
there was an absence of much new
outside buying. In this connection
the majority of the commission
houses are now apparently await
ing fresh developments.
Prices opened at a decline of 16
to rs points and rallied the frst
hour about 10 to 20 points from
opening quotations. In the last
hour gene al list sold of sharply
on selling by Liverpool, South and
Wall street with market closing al
a net declipe Of So to 73 points on
near months and 40 to A on distant
deliveries. Closing quotations were.
December 1880, January 1913, Marcn
1910. May 1908 and July 1870.
There has been a forced read
justment of speculative holdings of
cotton contracts the past week. The
question now Is how much of the
extensive dull accounts created dur
ing the September and October bull
campaigns remains to be liquidated.
This is the problem on the market
to be determined before renewed
confidence can be established In the
stability of prices On the other
hand, planters and factors having
seen cotton in big demand earlier
in the season at as high a price as
% to 20 cents and having sold a
great deal of the crop in its mar
keting of the past three months,
will be inclined to hold back the
balance for better prices rather
than press II for sale at the pres
emit level. At the same time IL Is
also quite likely the more attractive
prices by fully s to cents per
pound from the seasons high level
will induce a larger amount Of for
eign buying as soon as financial
conditions In Europe are improved.
Therefore after the stale specula-
tive bull accounts have been pretty
wen evened up. some recovery in
prices for both spots and futures Il
expected to develop from renewed
trade buying.
The Washington herald., 1921-11-13
ECON MIc POSITION
REQUIRES WORLD PEACE
Renewed Prospsrity VIII Be Difficult Without
A Long Period Of Uninterrupted
World Commerce.
World Cornmerce.


Great Britain offers the best ex.
ample Of the evolution Of the eco
nomic forces that lead . nation into
4 position of q world power. All
Of the three essentiai steps In ex-
pansion have been well illustrated
in English history. and progress has
been made 20 rapidly that the Brit.
ish Empire now faces new situa-
tion.
overpop uiatIon forced England to
seek new ways for her people to
support themselves. Both an outlet
for surplus population and new in.
dustries from which to make a live
iihood were required. This led to
the second step in this chain OF eco
nomic eventa
The development OF manufactures
supplementing the crafts and agri-
culture provided work for the grow
ing population, but also produced a
surplus OF goods above what the
people OF the nation could consume,
leading TO the next development
Colonization. both to secure more
room for expanding pop ulation and
10 provide markets for the increas-
ing volume Of manufactured goods
which the growing factories were
turning out. forced British states
men to make colonial expansion. q
national policy.
Engiand's far scattered colonies
called for a merchant marine a~d
q strong navy to protect these snSps
on their long voyages. Sea power
was essential to the maintenance
of trade with distant colonies
Large and effective navies mean
lanes Of communication spotted by
bases and fuel stations, consequent
ly the British nation was Obliged
to develop a line of small colonies
along the route to India as an ad-
junct to maintaining trade. Once
she set about TO develop these small
possessions, It likewise became 20
her advantage to prevent competing
nations securing similar bases II
possible. Consequently. II win be
seen that the economic need for
trade led directly into a competi-
ton for small provinces scattered
through the Mediterranean, Africa
and In the Far East.
England also offers another good
demonstration of the fact that most
| wars grow out of economic situa.
tions. Most of our struggles have
been over the efforts OF colonies to
gain their independence or contests
over the right to COLOMBO In various
parts of the world.
The reorganization of nations into
large groups in order to preserve
the balance has been worked out
The Washington herald., 1921-11-13
BALTIMORE GRAIN.

BALTIMORE. Nov. i2.-wbe,,-
Receipts. S1,4i5 bu. by car: shinnen,.
from elevators. $4,000 bu.. stocL u
elevators. Ssoss.5ss bu.
Closing prices. No. 9 red wIp,el
spot. sl.14z; No. red winter gsr1
licky spot and November. 81 Ioa.y
December. si12.
Corn-Receipts. 27.774 bu.: shin
ments from elevators. 2.l7l bu. Prin.
new yellow corn for deferred deItv-
cry offered at s2.i5a2 Der hi.
contract spot. 55&c: domestic tract
yellow corn. 64c asked.
Oats - Receipts. nil: shipment,
from elevators. 4.315 bu.: market
quiet at 45ixc nominal for No. 2 whits
oats and 40a41c for No. 3 white
Rye-Receipts. 5.s4s bu.: shipments
from elevators. s.2s5 bu.: No. 2 West
ern spot closed higher at ssLc.
Hay-Receipts. % tons: good mix
ed and timothy are selling al ran.
OF sl6a21.
Straw-Receipts. NIL: No. I tangled
rye $3.50; No. wheat. sl3: No.
oat (nominaD, sI45Oal5.
Mil Feed-City Mills winter bry %.
per ton. loo-Ib. sacks. s27: Pataps !
mill feed. per ton. in I0O-Ib. sact
s25; white middlincs. Der ton. IN b..
10. cotton sacks. S33; same in 4 ..
To- tute sacks. $50. These quotstt~ .
are for jobbing lots.
The Washington herald., 1921-11-13
CONSTITUTIONALTTY OF GRAIN
ORDER Is CHALLENGED
individuality on Chicago Board of Trade Carry
Plea to Supreme Court.

CHICAGO. Nov. IA test Of the
constitutionality Of the Capper-Tincher
bill to regulate grain exchanges. which
is known as the Future trading act.
Is to 60 to the United States Supreme
Court with the least possible delay.
At a recent hearing before Judge
Lands in the United States Circuit
Court It was agreed by all interested
parties that the case should be passed
10 the United States Supreme Court
at once.
The case is being backed by private
individuals Who are members OF the
Board Of Trade. and is being fought
by the Board Of Trade, the officials OF
which agreed with Senator Capper ana
others to abide by its workings, pro-
ytded certain changes were made In
the original draft Of the bill. II Is
contested, however. by John HILL IT.
The Washington herald., 1921-11-13

and others on the ground Of its al
legged nconstitutionality. In that II
deprives members Of the Board Of
Trade OF their property without due
process Of law In the compulsory ad-
mission to membership Of the board
of representatives of cooperative as
sociations. which will impair the value
of all memberships.
Called Unconstitutional.
The law gives farmers cooperative
associations and their representatives
the right to share In and enjoy the
use of the real estate owned by the
board, a private corporation, without
giving 1t any compensation. 1t Is also
contended that II imposes a tax not
intended either to pay the debts or
provide for the common defence or
general welfare Of the United States.
but for the purpose only Of regalat-
ing grain exchanges and of benefiting
the producer Of grain. and is there
fore class legislation. The plaintiffs
afiege further that 1t attempts to regu-
late commerce Of a purely intra-
state character: that It interferes
with the rights Of the State Of Illinois
to provide for and regulate mainte-
nance Of a grain exchange within its
borders that It authorizes unreason-
able searches by the Secretary OF
Agriculture respecting books and
papers wh!ch do not relate to any
properties upon which tax Is i'm
posed: that 1t deprives members OF
grain exchanges Of the right to con-
tract for the purchase Of grain for
future delivery as fully as owners.
growers. or growers associations are
permitted by law to contract: and
that the provisions Of the act have
no proper relation to the tax imposed
mon nonmembers OF exchanges, whose
contracts for future delivery are taxed.
The Washington herald., 1921-11-13
WHEAT REVERSES
BACKWARD TREND
Thomson and McKinnon Head
Commission Houses in
Buying Move.

CHICAGO, Nov. 12.-wheat re-
versed its action of Thursday and
with free buying by strong com
mission houses headed by Thorn
son and McKinnon moved I'D over
2 cents from the previous days
close with December getting above
$l.O7 and May above s1.12, the best
prices Of the present upturn. show
ing over cents above the inside
ngures OF November 4. Selling was
scattered early, although around
Wiz for May there was some pres
sure from resting orders which
checked the .upturn early. Senti-
ment generally was more in favor
OF the buying side. There was evI-
dence Of export business in Mani
TOBIAS and Liverpool reported stocks
or No. l Manitoba on spot as ex-
hausted. No rain of consequence
Tell In the southwest over the holi-
day and the crop there is expected
to 20 into the winter in poor con-
dftion. Country offerings remain
very small. and receipts are de-
creasing both sides of the interna-
tional line. The trade are looking
Tor a moderate decrease in the
visible supply statement on Mon
day.
Coarse grains showed a frmer
undertone mainly in connection
with wheat. There was some buying
OF corn credited to seaboard account
and exporters were after Offering
here. Country offerings to arrive are
not large due partly to the low
price offered in some sections and
also to the reduction in freight
rates which go into effect Novem-
Der 20 In parts of the west. Colder
weather Is beneficial for the crop.
~.
The Washington herald., 1921-11-13
WASHINGTON PRODUCE

EEgs = strictly fresh. ssassc;
average reosipts. s<c; Southern. SEC
Lave Poultry-Roosters. ID. lie;
furksys. H. ssazoc; chickens.
spring, h., zsasoc; hens. H.. 16az7c.
keats, young. loa6Bc; dressed fowls.
s6c: fresh killed chickens. h.. 3oa
s1asSc; turkeys. lb., l3a4sc; Keats.
young. each. 60a75c: keats. old. 4oc-
Hvestock-cafves. H.. Use: lambs.
choice. sasc: hogs. Sc
FRUITS AND VEGETABLES.
(CenpiIed ~ the u. .. Bureas Of
Markets and Crops Estinates.)
Sales direct fren Wholesaler to
Retailers.
Apples: virginias and w. Virgin
las. York Imperiais No. 1. $1,000
$50 per bbL: cold storage stock.
ss.0oasSo per bbL: Romes A ga
inches, ss.ooas.2s per bbL: Jona-
thans. poor condition. decayed. "a
ooae.0o per bbi.: Grimes No. .. very
poor condition many decayed. slack
pack. s4.ooas.oo per bbl.: Nova SEQ
tias. Tompkins Kings No. I. s7.oea
$50 per Dbl: No. ?. ss.5oa7-0o per
bbl.; Washington. delicious extra
fancy. medium to large sizes. sfa
$50 per box; fancy medium sizes.
s2.75a3 500. s3.soaf.ee per box; Jona-
thans, extra fancy and fancy medi-
um 70 large sizes. sz7sas.eo per boz:
Grimes extra fancy and fancy. All
sizes. s1.ooa3.oo per boz: View YorkA
Baldwin,. sa.oose-ss per b.sa basket;
few. eaSo.
Cabbage: New Yor,<s. bulk per
cwt: Danish and Domestic Round
type. t1.o0a1.Se: some fair condi-
ton. small. s1soaI76-
Onions: New Yorks and Ohios.
1oo-lb sacks Yellow varieties. No.
i. best. $500: fair condition. s5.e0a
$50; ordinary s4.oos4.50.
White Potatoes: New Yorks. l5o-
Id. sacks. Round whites. No. l.
mostly s3.75 per sack.
Sweet Potatoes: virgfnias, cloth
top stave barrels. Yellow varieties
No. 1. sz.50a3.25 per Dbl
Lettuce: CALIFORNIA;, crates. lee
bergs, s2.ooaa.50.
Celery: New Yorks punches. all
sizes. 5ocas1.0o.
Oranges: CALIFORNIA;, valencias
all sizes. s4.50a6.5o; Floridas Parson
Browns. all sizes. s3.75al25.
Beets: Home crowns, Dozen
punches. 75asoc.
Grapefruit: Floridas, boxes, al
sizes. s3.75a425.
String Beans: South CaroIinas
bushel hampers. best, s15oa2. 90
poorer Sl00a1.25.
The Washington herald., 1921-11-13
RAPID ADVANCE
in BONDS CHECKED
Past Weeks Market Moved
Irregularly With Slight
Upturn at Close.

NEW YORK. Nov. I2.-As was to
be expected. q check to last weeks
rapid rise in bond prices and this
weeks market lapsed into consid-
cradle frregularity. with a slight
upturn at the end. Early reaction.
which was not confined to the en-
tire list. was the result In the main
of proft-taking. indicating that the
sharp upturn was partly due to
speculative purchases. The recess
sions were especially noticeable In
the government war bond list. the
victory issues and several OF the
libertys losing q few cents. At the
same time some industrials made
new highs. notably United States
Steel IS. while rails were irregular.
There was apparently no great &C.
cumulation Of orders over the
Tuesday holiday and irregularity
continued with a falling OF in the
volume of trading and 1t was evil
dent that more speculative commit
ments in high-grade bonds were
being retired.
A rally set in during the last
hour of the trading prior to the
Armistice Day holiday which
list. The Libertys and victorys,
with the exception of the first Lib
erty Is. recovered from 8 to 30
-. "a
and foreign government issues also
displayed strength. The traction
group was firm throughout the
week.. and feature was the
strength and activity in Third Ave-
nue. Railway bonds. the adjustment
5s reaching their high price for the
year. This strength has come with
the belief by holders that the COM
pany is about to pay accumulated
interest on the bonds, which now
amounts to 20 per cent
New offerings for the week to-
tailed approximately SEC. 900, 600,
thus keeping pace with average
weekly offerings for the past
month, regardless Of the two holt
days. over two-thirds of the new
fi0tattons were in the Industrial
group, the largest of which was the
S27,500,000 per cent issue of the
Goodyear Tire and Rubber Conn
pany, sold at 90 1-2, to yield ap-
proximately $40 per cent. The next
largest issue was that of Wilson &
Co. for $10.125.o0o. at 71-2 per
cent. State and municipal issues
were fioated at rates and prices to
yield around per cent, the prin-
cipal Offering being that" of the
State of North Carolina for
$5,000,000.
The Washington herald., 1921-11-13
Bui1M7g UD.U0urG Game
SY L0mesc8. 30ynes
Open COP Champion e,pthe lbufed States

and the feel Of the head. %,
that feels like a stick Of wood /. .,
good.
The weight might average aror ,
thirteen ounces. but all the Nei
= Sun be ~ the grip and shat. -
ways be able to feel the weight
the head.
In handling the body rer,eul %
that one can sway forward as "A.
as backward. In guarding aga,
backward sway be careful NOT 81,
lean too far forward at the TON ~
the swing. for then. you will ha,-.
no power left with which 10 hit 10.
ball.
don't believe in long. heavy
clubs. for you can get Just as Ia
with the lighter ones and control
them in an carrier way.
since you are after distance as
well as direction. balance is an i'm
portant thing in handling a wooden
club. and you can only get this
balance by the proper pivoting Of
ieft shoulder and left knee togeth-
er. and with an equal distribution
OF weight at the top Of the swing.
as far as the feet are CONCERNED.
Let the left arm come back straight
as far as il will 20. and then at the
top there is a slight bend Of the
wrists. a natural bend TO complete
the back swing.
Let the body again use only the,
same amount of space in pivotings
that IL held before. That is to say.
you pivot in the same space tho
body held at the start. without
swaytng TO the right or left
The head always remains the
anchor to the swing and must not
u" moved IL isn't had idea. howl
ever. before starting the swing ID
tilt the chin in slightly toward the
right shoulder.
IN you are hooking or smotherine
the ball. turn out the toe OF ths
driver or brassie slightly.
The ball should be played just j
trifle TO the right Of the left heel.
with either n slightly op"n or Il
slightly closed stance, depending
il.-...Iy upoH greater physical com
fort.
The Washington herald., 1921-11-13
PERSONAL NEWS
OF STRASBURG

STRASBCRG. Va, Nov. &c. NJ
Chiies went to Richmond Wednes
day on account of the Illness Of bid
son. George. who has been sufferiu 4
from a nervous breakdown for sew
eral weeks past Mr.. Chiles eN-
poets TO return home soon. bringing
George with him.
Mr.. and Mrs. william Anthony
and little son. Of Hagerstown. Mi.
are visiting her mother, Mrs. Grace
Kneisley.
The United Daughters Of the Con-
federacy met last Saturday at the
home Of Mrs. A. c. Stickley. The
sum OF $ss was collected for the
Lee mausoleum fund and also a
fund for the Jefferson Davis monu-
ment. A paper by Mrs. c. ".
Cooley. The City OF New orleans"
was read.
Mrs A. T. welfe and children and
Miss May Neal spent the past week
In Manassas with Mrs. Wolfe's sis
ter. Mrs. T. +. King.
I. w. keister has returned from
Richmond, where he was called Nv
the extreme illness Of his son. Wal
ter. who was operated upon for APP
pendfcitis In the Richmond hospital
last Tuesday. Mr.. Keister is still In
a precarious condition. Mrs. c. W.
Edmonds. sister of the I'll man. has
also gone TO Richmond to be by the
side of her brother.
Misses Susie Kniseiy and ola Stin-
son. OF Washington, ID. C.. spent the
Weekend with their parents In
West Strasburg.
A SON was born TO Mr.. and Mrs
Eugene E Barr last Sunday.
Mrs. Grace Mccullough. who has
been spending the summer and fall
months at lovely Matin Hill, has re-
turned to Washington. where she
will open her winter home.
The Washington herald., 1921-11-13

revealed index
dHrentas October that
in others
Greats in the evdof
m
4 o
f
in
cpykht b n T. Event P
The Washington herald., 1921-11-13

IN history by repeated coutests-
Babylon. Rome. Egypt and Great
Britain are examples Of the results
OF long periods and successive war;
AS history advances. however, the
time required for such evolution
appears to have Shortened Ger
many created her empire by few
swift strokes from 1854 to 1870.
and hoped to complete her triumph
by another swift stroke In 1914.
but In her haste net disaster. The
United States was established as q
unit by one severe connict-the
Civil War.
So long as the main areas Of the
inhabitable world have been In
process OF exploration and survey
these wars Of readjustment have
continued. but we now appear to
have reached point where the
worlds resources are rather thor
oughly understood. and q balance
sheet can be made out on which the
claims Of the leading nations may
be stated.
In many sections Of the world
there are colonies and small groups
Of people who are coming CT age,
so to speak. or reaching q certain
|
that they desire and will fight for
been attained only through revolu-
lions. Every republic in America
had to night for it's independence.
The same 10 true of most Of the
small countries In Europe. These
small revolutions have sometimes
started greater struggles. when
larger powers would use the efforts
Of the smaller nation FOR freedom
as. pretext to settle some score
Of their own.
At the present time, colonization
10 facing its end and the common
open domain of underdeveIoped
peoples is very limited IL there In
any such area at all. II we recog-
nize the right Of China to control
her own territory in any manner
she may choose. there is little of
the world left to be partitioned.
This is all development of the
last fifty years. In 1878. when
Stanley returned from Africa and
told of the possibilities of the de-
velopment OF the interior of this
continent he opened the last great
continent to a rush OF colonization
|
completed In the following fifty
years. The United States had
stopped colonization in America by
the Monroe Doctrine at a much
earlier date, so that there, has been
no doubt as to the future of South
American countries.
The position OF England in this
new situation with numerous colo
MES that are rapidly reaching ma
turity and requiring more and more
independence needs no great en-
phasis. AS was pointed out in a
previous article France is less de-
pendent upon her colonies than the
United Kingdom for one reason in
particular-she has no problem of
overpopulation. In England. how
ever, the surplus of population has
been steadily increasing. From 1915
to 1852 the total emigration from
the United Kingdom was only 81
$4,000, while during the period
1s53-1s1s. 13.7s0.0oo emigrated.
The rate of surplus population is
shown by the following table:
The Washington herald., 1921-11-13
CHICAGO LIVESTOCK.

CHICAGO. Nov. IL. - Cattle
Prime steers. ss.soa1l.00: good to
choice heavy steers. ss.0Oas75; fair
to good steers. s6.e0as.25; yearIings,
fair to choice. ss.5OaI2.Oo; feeding
steers. s5.ooas.s0: heffers. s5.o0as.7s.
Hogs-Choice light butchers. 500
a1-25: medium weight butchers.
s6-6sa7-20: heavy butchers. ss.sOa
lis; fair to fancy light, se.65a7.e5;
The Washington herald., 1921-11-13

fair amount Of BUSINESS in Far
rell Coal at TN to TN. Motor
stocks were irregular. Lincoln Mo-.
tors dropped from 6h to the new
low record of 3K. Durant Motors
was active and strong. with trad
ing at 25h to 27%. National Tin
was the strongest Of the mining
group.
The Washington herald., 1921-11-13

PRODUCE MARKETS

heavy paciinE. ss-zs.s.ss; rourh
packing. $s.eoas.4e; pigs. st.5eas.oe.
sneep-oood 20 choice Iambs
~ Ibss.fo: Feeding iamb<. ss.ees
szS; Gull lambs. <f.o0ss.Bo: year
nnga $b-ooa1-se: wethers. Ss.5os
500: ewes. sz.ooalss.
The Washington herald., 1921-11-13
The British Possessions and Trade, 1913.

In the figures concerning imports
from the United Kingdom to the
colonies are disclosed the trade re-
lations of England proper with the
other countries. India buys a little
more than she sells, while the rest
of Asia furnishes a considerable
surplus of raw material Australia
STA furnishes more food and raw
materials than she purchases man
ufactured products. while in Africa
1t is the other way about. The
American colonies. however. are
the outstanding support Nfor the
United Kingdom. exporting a large
balance of foodstuffs, particularly
from Canada The British posses
sions in Europe are the two small
provinces of Gibraltar and Malta.
examples of strategic points on the
trade route to India. which must be
maintained without respect to their
own economic Importance.
The situation within England as
regards food production and manu-
features is shown better by the fol-
lowing table of imports and exports
by principal groups of commodities
for 1919:
United Kingdom Foreign Trade 1873.
Thousands Of pounds-sterling.
Imports. Exports.
Foodstuffs .............. 1l2 ~
Raw materials. 6f6 II
Manufactured articles... 266 63l
While 1919 Is not a representa-
tive year the high balance OF i'm
ported foodstuffs 10 significant. At
the same time the imports of
goods are somewhat
higher than they would be nor
mally. Exports of manufactures
are usually much more than double
the imports and also much above
the value Of raw materials i'm
ported.
The war debt Of England. which
to total Of nearly $4,000
100000 sterling, or approximately
500 .ee0. 900. 900. can be paid only by
the profits of active trade between
England and her colonies. through
which she may secure foodstufrs
and raw materials to best advan-
tage in return for the assurance Of
a ready market for her manufac-
tured goods. Colonies and prov
inces mean to the British Empire
that certain economic ADVANTAGES
are assured In trade. These can
only be conserved by continued
peace. England needs peace in or
der 70 proper. q
The Washington herald., 1921-11-13

Had England had no vigorous CO.
lonial development she would today
face the same situation that Japan
faces in over-population and lack or
outlet for the products of the labor
of her people.
The scope Of the British posses
sions in colonies are suggested by
the following table:
The Washington herald., 1921-11-13
COFFEE MARKET.

NEW YORK. Nov. ia-rne coffee MARKET
closed 3 to 8 points lower
The Washington herald., 1921-11-13
Breadstuff Movements

NEW YORK. Nov. II. - The follov,n.
shows the movements Of breadstuifs at New
York today In bushels Of grain and barrels
OF hour: Receipts. Exports.