davidaulloa/AmericanStories huggingface dataset:
The Neshoba Democrat., 1921-11-17
BUSINESS LOCALS

SEED OATS-Plant home grown
Recleaned Hastings 100 Bushel
Seed Oats, free from Johnson
grass or weed seed, $1.00 per
bushel. Beware of unreliable
western seed, they sometimes
contain weed pests.
IT, 7. w. Richardson
FARM FOR SALE 100 acres
near the Playground. 40 acres in
Beashea Drainage District. A
ar gain.-Henderson- Molpus Co.
P.S. BARRETT MILL FOR SALE
10000 capacity Saw Mill near Bar
retts store Beat for sale at a. bar
gain. In good condition. See Joe
Barton r 2 Edinburg. 4p
CALF LOST Red and white
spotted calf lost last Thursday
week ago. Calf heifer about five
months old; pretty well grown to
age. If found notify j. S. Hamill
Philadelphia. lilo c
The Neshoba Democrat., 1921-11-17

WANTED-A good looking coon
hound that does not fool with
opossums. Price must be fair on
10 days test Oscar Proctor,
Ethel, Miss. lilo p
The Neshoba Democrat., 1921-11-17

FOR SALE Eight room resi-
dence on south side Philadelphia
with 3 IL acres Of land, good
well Of water, barn, garden an d
out buildings, place is in good
repair.
]. M. Carter
Philadelphia, Miss.
The Neshoba Democrat., 1921-11-17

The regular meeting Of the
Board Of Trade will be held
Monday evening at 7.30 sharp
in the the Court House. The
meeting will be short and crisp,
and will adjourn early. Every
body interested in the develop
ment and Improvement OF town
end county be sure and come,
The Washington herald., 1921-06-05
WASHINGTON PRODUCE.

Egzs-Nearby. 2sc; southern, 24c;
average receipts. Csc.
Butter-Print, 35a3sc; creamery,
extra, 3oa32c; store packed, 15a1sc;
on nearbys, 12a21c; southern but
ter, tubs. 3oa35c
Ponltry-Alive: BOOSTERS. 1sa2oc;
turkeys, 30a33c; spring chickens.
soasec: white leghorns, 40a50c;
hens, 2Sa3oc; keats, 75c; dressed
fowls. 35a3sc; turkeys, 40c; roosters.
f3a23c-
Green fruits-Apples, western. per
boxss s3.50a4.5o; apples, per bhl..
3.o0s3.10; pineapples, s4.50a5.00;
California oranges. s6.O0a6.50; Cali
forrfa lemons, per box, s4.5oa5.5O:
grapefruit. per crate. s6.00a6.50; /;
FLORIDA oranges, S6.00as.5o; straw
berries. 1914 a30c qt.
Veeetablss-Potato nearby, per
bbl. s1-50a1.75; northern, per sack.
S200a225: string beans, per basket,
Florida, s2OOa2.5O: South Carolina.
s2.50a3.50; new cabbage. s2.O0a2.5o
per ct; beets. per bunch, safe: let
tuceS romaine, per Ct, s1.25a2.00:
peppers. per ct, s1.75a3.00: GYM
lings. per Ct, s2.00a25O: eggplant
per ct. s3.OOa4.5O: onions, Texas.
s2.oQa2 25 per Ct: spinach, per bbl.
s2.5aa3,0 Florida tomatoes. per ct,
81, 5aa5,o0: Florida celery. per ct.
-. f.Sea5.00; bunch. celery. 81 25a1 so; ;
sS1.-bus- basket. So 50a5.na
Ea7l. calves. 9allc; lambs, I2aItc.
The Washington herald., 1921-06-05
See FLAWS IN RAIL
BOARDS DECISION
Philadelphia Business Men
Disapprove Conditions Hedg-
ing Cut in Wages.

Especial corrsspendsnee Of The washiAsten
Herald and The New York Evening Psst.)
PHILADELPHIA, June 4.-It is
difficult to arouse any enthusiasm
in a business sense over the wage
cut announcement by the RAILROAD
labor board. The reason fer this is
that the decision is hedged about
with SO many regulations as to
seniority. eight hours. etc. that
the railroad authorities feel il il
doubtful whether transportation
companies will be able to get more
efficiency that prevails today. II
would have been much better, rail-
road officials say had the labo;
board rsfrained from any condi-
tons
Despite this stand, 1t is known
some roads have placed orders for
equipment and repairs conditionea
on the wage decision. FTthermore,
there is evidence that accumula-
ton of railroad stocks has been
going on in anticipation of the cut
in wages. Behind this Is the theory
that railroad net earnings in the
next quarter will make a good
showing, assuming the gross is
kept around the present level II
was estimated that the Pennsyi-
vsnia railroad might be able to
effect a cut in wages of almost
$40. 100000 a year on the entire sys-
TEN based on the April payroll in
event of the acceptance by the en-
ployes of a IL per cent reduction.
A reassuring feature OF the gen
erai situation Is the contraction OF
operating costs to public utility
companies. This results in greater
net income. Some electric and gas
companies reporting gains of to
per cent in the last thirty days.
The big barrier. ON the other hand,
is high cost of credit With cor
porations that can pass this cost
on to the consumer, this makes
little difference, but with many not
as favorable situated different
story is told.
The Washington herald., 1921-06-05
Hide Prices.

The continued firmness in hide
pSces contrasts sharply with exist
ing conditions in some other mar
kets. While business in hides is
somewhat less active than recently.
"a good demand is maintained for
most descriptions and quotations
have been further advanced in cer-
tain instances. Unfavorable shipping
facilities at the River Plate have
served to restrict dealings In for
eign hides, but the market is well
sold up and high prices are being
realized for frigorifico steers. The
stronger situation in hides is re-
Elected in SIMILAR tendencies in the
leather trade, and some kinds of
bottom stock are in short supply. A
fair call for upper leather is noted
in some dispatches. but shoe pro-
ducers are not purchasing beyond
immediate requirements and accum-
ulated holdings are being disposed
of slowly in some quarters. Both
manufacturers and jobbers of foot
wear. however, report more business
for early fall delivery, and Brockton
plants have started up again after
recent Inventories.
The Washington herald., 1921-06-05
ny c. c. LATOUR-

Several mistaken ideas are preya-
lent in this country with respect TO
the huge dividends distributed by
German industrial concerns during
the past year. British. French and
American writers have frequently
pointed to the enormous dividend
disbursements as proof OF Ger
many's brilliant progress in the
rehabilitation of her industries"
and. as conclusive evidence Of her
ability to pay the indemnity. But
all is not gold that glitters.
Last year, for example, the Bis
marchhuette. one of the greatest
upper Silesian metallurgical con-
Germs. reported a net profit of over
13, ,o00,0 marks, as compared with
about 10000 marks in 1918. and
distributed a dividend of IS per
cent as against 8 per cent in 1913.
Similarly other industrials showed
apparently huge profits and divi-
dends. But this should not be ac-
cepted as evidence that German in
dustries are hourishing. since the
enormous profits and dividends
merely reflect the heavy deprecia-
tion OF the German mark.
Large Dividends Deceptive.
Since the value of the paper mark
last year was only about one-tenth
of it's prewar face value. a rise in
commodity and security prices and
corresponding increase OF turn
over resulted. The large dividends
paid by German business enter
prises, therefore. appear deceptive.
The stockholder who paid for his
shares in gold marks received only
The Washington herald., 1921-06-05
CONVERSION LOAN
EPOORLY PLACED
Only a Fraction of Old British
Securities Con-
verted.
CForeisn correspondencs Of The wsshinston
Herald and the New York Evening Post.)
By ARTHUR W. NDDY.

BY ARTHUR W. KDDY-
LONDON, May 26.-To most people
in Great Britain the only surprise of
the recent budget was the announce
ment at the end of the chancellor's
speech of a large conversion loan.
The circumstances responsible for
this policy can be very briefly re-
cited. During the next eight years
the government will have, quite
apart from it's treasury bill debt of
over a thousand millions, to meet
maturing obligations to a total Of
not far short of f2.00o.o0o,o0o. or
this total something like f6,7oo,ooo.-
900 falls due within the next three
years, and IL Is these maturities-
mostly in per cent bonds. which the
government offered to renew.
No cash subscriptions were in
yited, but holders of the bonds were
invited to convert in a 3h per cent
loan irredeemable before 1851, and
only thereafter at the option of the
government, the terms of conversion
being approximately that OF obtain
ing a an per cent loan at about 81 II,
giving a yield verying slightly. ac-
cording to the maturing bonds, from
SIS to So per cent. Holders of the
maturing bonds were given until the
2Sth of May. At first the reception
was disappointing. and though the
subscriptions increased. only about
f150, 100000 out of f750,0oo,0oo of
maturing obligations were con-
verted.
In view of the unfavorabte at
mosphere engendered by the coal
strike, the trade depression, and the
Ruhr crisis, It was surprising that
the government should have felt 1t
necessary to choose such a moment
for a conversion operation. More
over. the terms do not seem to have
been very happily framed, because
while on the one hand one school OF
critics maintains that the govern
ment is to be blamed for issuing
40-year loan on practically s% per
cent basis. potential converters are
not too sweet on the terms, the un-
certain outlook rather increasing the
popularity of the short-dated bond.
1t must be pointed out, further, that
all the bonds maturing during the
next two or three years are redeem
able at small premiums. Nor Is the
fact overlooked that at the end of
40 years redemption is only at the
governments option, and while there
was a time. long ago, when that
fact would have been regarded as an
advantage rather than otherwise to
the investor, the experience OF
holders of consols who saw that
form of security depreciate to an
extent which at one time would
never have been deemed possible, has
been a painful one not likely to be
easily forgotten.
The Washington herald., 1921-06-05
PAPER PROFITS OF
GERMAN INDUSTRIES
Large Dividends, Payable in Deprecated
Marks, Create False Impression.

very moderate return on his in
vested capital. while the stock
holder who paid for his shaYes in
paper marks generally had to pay
such high price that the yield
was also very conservative.
In this connection the Rheinische
Stahlwerke of Duisburg-Meideric
one Of the most important German
steer companies. makes some Sig
n-fcant observations In its annual
report for last year. This company
showed net profit of over A.
100000 marks as compared with
about 100000 marks in. 1913. and
declared a dividend of 20 per cent
as against 10 per cent in 1913. The
report states:
1T is true that the net profits for
the year appear large. But upon
closer examination the business and
the entire condition of the industry
lose their brilliant aspects. The
balance sheet has not been recon-
structed as regards the value of
the plant and machinery. They have
been bought for gold and appear
in the balance sheet in gold values.
Setting them down in the present
money. paper marks, wtuld show
that the business has been poorer
than in any peace year. Before
1914 the Rhienische Stahlwerke
distributed dividends Of between q
and 12 per cent. The present
dividend amounts to 20 per cent
but II will be paid in paper marks
while the pre-war dividends were
paid in gold. The stockholder who
receives 200 paper marks will by
no means be able to purchase as
much with this sum as he could
with the lowest dividend in peace
times, 60 marks"
The Washington herald., 1921-06-05
ASSIMILATION OF
BONDS HAMPER
Unsettled Market Mainly Due
to Strong Competition.
Liberties Pressed.

NEW YORK, June 4.-For the un-
settlement in bond prices during
the week the most pertinent ex-
PLANTATION seems to be that assimi-
lation of recently issued bonds was
a strong element of COM
petition. That applies. of course,
to all bonds except the Libertys
which were under a special influ-
ence and are likely to continue so
for some time. By a peculiar line
of reasoning some bond experts
have construed as favorable the
slowness with which the new
French loan of 100000 900 is being
absorbed. 1t was expected that the
subscription books would close be-
fore the end of last week. AS a
matter of fact they were still open
on Friday of this week and the syn
dicate seemed determined not to
turn down a single subscription,
many of which are yet to come
from western points. The favorable
construction referred to has to do
with the probable restraint that
will be put on other borrowers.
1t is figured that the slowness of
the French loan subscriptions will
be taken as an accurate sign of a
glut of securities in the portfolios of
investment houses and will there
fore forestall unnecessary borrow
ings for a time.
Apropos of this, the Daily Bond
Buyers compilation of municipal
and state loans fioated during May
places the total for that month
above that of May in any year
since 1913. The total for the first
five months of the current year was
greater than in any similar period
in ten years. The principal items
going to make up the increase have
been soldiers bonus bonds and large
issues to finance road building and
public improvements which were
held in check during the war. The
fact that New York banking houses
are determined not to bid for the
bonds because of doubts about their
legality, is destined to have an in
fiuence on borrowings Of other
states
The trend in the bond market was
downward during the week. Excep-
tions were noted principally in the
case of inactive issues which, COM
ing into the market after a long
absence, naturally made up the ad
interim appreciation of comparable
issues of greater marketability.
The Washington herald., 1921-06-05
TMELYWALL STREET TOPICS

NEW YORK. June i.-Yesterday
out-of-town money appeared In the
wall street district for the first
time since the present strinRency
has prevailed in the money market
and the supply from this source was
SO large as to more than equal
brokers requirements, a consider
able amount being left unioaned at
the close. The out-of town funds.
however. were without influence in
the time money market quotations
for time money for all periods on
both classes Of collateral being Ia
TN per cent. but with the offerings
The Washington herald., 1921-06-05
FOREIGN CABLES
CAUSE WEAK MART
Threat of Lockout Monday of
British Mill Hands Brings
Slump. (

NEW YORK, June 4.-The threat
of a lockout Monday morning of the
British mill hands, involving up
wards of 100000 in the aggregate,
because of the refusal to accept the
25 per cent reduction in wages or
dered to go into effect Monday
among the cotton operatives gener-
ally, which reduction has been re-
jected by nearly s5 per cent of the
workers, has increased Great Brit
aims labor troubles to such an ex-
tent the news of this situation
caused a weak cotton market hero
today. 1t comes at a time when
efforts to settle the British coal mi
ners' strike, already in effect a
month longer than anyone had
thought 1t would continue. had
failed. There was no Liverpool
market today as 1t Is always closed
on Saturday. Liverpool houses here.
however, were good sellers Of cot
ton contracts in our market from
the opening, evidently as a hedge.
This pressure, together with con-
siderable scattered liquidation by
local trade and Wall street commits
sion houses VINO had been the best
SuppOTlcFs Ol lne mdTkeI at inter-
walls the past several weeks, dis
couraged the local bull element and
prices gradually declined through
out the first hours trading. The de-
cline reached a maximum of 25 to
80 points from yesterdays closing
quotations before enough new sup
porting orders came in from trade
houses TO check the slump. July
sold at about 12h cents while. Oc-
tober of the new crop went down
to near 13k cents; December 1870
and January 1880. There was very
little rally to the market as scat
tered southern selling orders kept
coming in up to the close, evidently
Influenced by the unfavorable views
taken of the labor situation on this
new stock. In this connection there
Is also considerable labor trouble
among the North Carolina mills
around Charlotte. The British Mas
ter Spinners' association on the 1Ith
of May ordered general cut IN
wages of 80 per cent, as the present
wage scale expires with today's
date. The operatives labor union
leaders rejected the proposition.
The master spinners then agreed to
make the reduction 25 per cent.
This was countered with an offer
by the operatives to accept cut
of but 12h per cent. The situa-
tion now stands that the 25 per cent
reduction goes into effect Monday
snd II 1t is not accepted the mills
will be closed as trade conditions
have been SO bad for the last three
months the British mills have. not
been able to operate on a better
basis than 50 per cent of their nor
The Washington herald., 1921-06-05
CHICAGO LIVESTOCK.

UNION STOCK YARDS. CHICAGO.
June 4.-Receipts today estimated
at 500 cattle, 5000 hogs. 5000 sheep
and. 800 calves.
Compared with a week ago. choice
steers show a gain of 25a5oc, with
top lots $3.50. Grass cattle, steady
to strong: best cows and heifers.
up 25c from a week ago; calves
showed a big advance. choice veal
ers closing as much as 81 higher
for the period.
Hogs in good demand today, values
showing a gain of 1oa15c over lew
els of previous day; choice light
hogs went at $50: bulk of good
hogs wep at s7.eoas.1o. with few
Of the rot Eh packing hogs below 81.
The Washington herald., 1921-06-05
NEW BRITISH CAPITAL
First Of

the first quarter of 1921 the profit
and loss statement of Az such com
panies showed a 1et proft OF E43'-
4o0, 900 as against raj 100000 in the
same period last year. This, Is a
gain of , 1-2 per cent in spite. OF
the Industrial depression. OF course
these reports reflect operations
which occurred sometime prior to
the period to which they refer. No
doubt in the coming months the re-
turns from these corporations Will
reflect the present conditions when
profits will undoubtedly shrink es-
pecially with the tie up from the
coal strike.
The following table gives a COM
parison of earnings, as reported by
quarter years.
The increase reported in the last
quarter is very much smaller than
during 1920.
The Washington herald., 1921-06-05

1t will be noted that 65 per cent
of the new capital went to English
uses in the 1921 quarter compared
with IS per cent last year and is
per cent in 1913. OF the remainder
in 1921 more than half or 1s per
cent of the total went to foreign
countries outside of British poses
sions. 1t will also be noted that
the total of E11,612,O00 going to for
eign countries in the first quarter of
1921 was greater by over S4,O0O,0oO
than the amount to similar destina-
nations in the whole of 1920. Eng
land is still a long way from being
able to export so to IS per cent OF
her surplus capital as in the pre-
war days but she is showing signs
of regaining that former power.
Another point of interest is the
relative earnings of British indus
trial joint stock companies. During
The Washington herald., 1921-06-05
ENGLAND REGAINTNG HER
POSITION AS MONEY LENDER
More New Capital Going to Foreign Countries
Industrial Profits Maintained.


new capital of f1ss.357.ooo. only f3br.
s51,2o0 or IS per cent went to the
United Kingdom. The remaining 81
per cent found employment In Brit
ish possessions and foreign coun-
tries. In 1920, however, nearly 30
per cent of the a3s7,54s.6oo Of new
capital was Invested In the United
Kingdom. The following table gives
a summary of the destination OF new
capital in 1918 and 1890. Only 2.2
per cent found its way to foreign
countries in the latter year COM
pared to 43 per cent in 1919
The Washington herald., 1921-06-05

Figures published at intervals by
the London Economist give a rather
good idea OF the course in English
finance. England mas always been
a heavy investor in foreign coun-
tries and in British colonies. Dur
ing the war a vast amount of these
investments were Withdrawn. Since
the end of the war English domestic
Industries have demanded relatively
much greater amounts of new Brit
ish capital.
In 1918, out of a total amount of
The Washington herald., 1921-06-05
Corporal and 2 Priuates
First Killed in War

The warfdepartment yesterday an
nounced that the first three Ameri-
can soldiers killed in battle in the
world war were Corp. James b.
Gresham. of Evansville. Ind; Private
Tomas F. Enright. of Pittsburgh.
and Private Merle D. Hay. of Gid
den. Iowa. This is from official
records.
The Washington herald., 1921-06-05
OVER TWO MILLION
WORKERS JOBLESl
US. BUREAU SAYS
Number Shows Big In
crease under Figures
For January.
WAGES ARE DOWN
Factories Resume Operations
With twenty-five Per
Cent Cut.

Approximately e.225.Ooe workers
now are jobless. according 10 ~s-
Inmates made here yesterday. based
on reports to several branches OF
the government. indicating that un-
employment is decreasing.
At1esst $500. 900 men and women
were idle in January, q survey by
the u. s. employment service show
cd. Now, however. no exact re-
ports are available for the entire
country. but data dealing with Sc
lected Industries collected by the
labor department, tho federal re-
serve board and other agencies
indicate the wartime wage
scales are now generally denstsd.
Dehation makes IL possible to op-
crate at full time factories which
.ormeIly were closed or running only
two or three days a week.
Coal Presuetio. Grew.-
Production Of bituminous coal In
shown TO be greatly Increased in
reports to the L. S. Geological sur
Vey. proving that thousands Of nm
ers in the central eastern ard MD
die western fields are returning 10
work
Railroads now are getting into
the swing OF summer track mar
tcnance jobs and are hiring msn
daily. Railroad shops also are Le-
ginning TO hum vita activity fcI-
lowing the winter period when
thousands Of mschini5ts sna other
workers were laid Of.
Strikes and lockouts during Nav
were fewer than in May for several
years past. according 70 Director
Hugh kerwin, Of the labor depart
ment bureau of mediation and con-
cilistion. Despite the strike Of
marine engineers. seamen. radio
operators and cooks and stewards.
the number OF men now idle
through controversies with thetr
employers is comparatively small
Strikes in the building trades in
several cities are being rapidly ad-
justed by the labor department
medistors.
Prevents M.ny strikes.
The mediation bureau IN the
week ended yesterday received only
IL cases in which the workers were
idle through strikes or lockouts.
At the same time the men remained
at work in so cases in which the
government orhcials were asked 20
The Washington herald., 1921-06-05

Furnished BY W. D. Hibbs q Co., member
New York cettsn Exchange.J =
The Washington herald., 1921-06-05

Industrial. Average 2 Point. Loss IN Week

NEW YORK the o.
Friday OF
ompfed with