davidaulloa/AmericanStories huggingface dataset:
Evening star., 1921-05-07
BY STUART p. WEST.

| NEW YORK, May 1T was in No
| vember, 1919. that the great down.
| ward movement started on the stock
exchange. 1t was not until the fol-
lowing spring that the first signs be-
| gan to appear of a let-up in outside
| trade. and it was not until the early
| autumn of 1920 that the business de-
| cline became at all general. If 1t be
! assumed, IS is not unfair, that stocks
| will move as far ahead OF INDUSTRY
on the upgrade as they dld on the
down. the bottom of the Wall street
break having been reached last De-
cember. trade conditions would not
| pass the turning point for anothe5
| three months and recovery "1u.u
not become general until the 'a'e
| summer or early fall ..;s ros-
We have seen already TINS pr4s
! nosis partially borne out in the I'M
provement that set in in various m
| dustrial lines. beginning in Marcn
| and April If the rest OF the pro
| gram is carried out this lmpaoser
directions. but the main 1orware
| movement in business will not start
| until August or September.
Credit Situation Improves.
The signal for the stock market
decline a year and half ago was
given by the Federal Reserve boaro
when it began to mark up tne o.
ficial discount rate. The present
movement of recovery was we'll un-
der way on the stock exchange pc
fore the first reverse step was taken
by the banking authorities. sun .he
reduction of the discount rate IN the
New York, Chicago and Atlanta dlstrlcts
This week has been very helpful to the
rising tide of confidence in Wall street.
There is no idea of its being accepted as
an invitation for speculation 10 go aneau
at full steam. On the contrary. IL ~
realized fully that any great speT tirue
lative revival at the present tln,s
would be the one thing which would
nreyent any further let-down OF the
credit bars.
but high banking opinion has ex-
pressed itself thiss week, as IL olu
English bank rate, to the effect that
the credit strain throughout tne
world has been easing for some time'
and that deflation is far enough
along to warrant some relaxation IN
the restrictions which nave neiu .He
such rigid grip for nearly year pas,.
That this has impaired stimulus notn
to the investment and specuiative
markets is certainly not SURPRISING
Liquidation Lapse.
Durine the seven days ending May
4 the twelve reserve banks reporte'
an addition to their commercial iodDs
of nearly 31.000,0OO. TINS was .e ~,
first important interruption in the
liouidation which has been proceed
ing since the start of the year.
Whether this check is to be tempo
rary or whether curtailment of loans
ia to be resumed. is question upon
which much depends SO far as the
discount policy is concerned. The as
sumption that federal reserve banks
in the interior will Immediately 1oi,
low the example Of New YORK ana
lower rates to mercantile borrowers
the main point is that the combined
Evening star., 1921-05-07
FAILURES IN APRIL,
Textile Industries Head tho Big
List Reported.

NEW YORK. May 7.-Business cas-
uaitles IN April. numbering 1,446,
were per cent fewer than in March
according to reports to Bradstreet's'
ana 27 per cent under the total of
January. which brought the high
water mark Of the last six years. The
number. however. was three times
the aegregate Of the preceding April,
and was. in fact. exceeded only once
IN April in the last twenty-eight years
the exception being in 1915.
Liabilities involved in the months
failures amounted to $49,943,619,
which was q per cent smaller than
in March. but three times as large
as in April. 1920 Failures in the
first four months of the year num-
bered 6.3S6. three times the number
Of the corresponding period of last
year. The liabilities of the four
months totaled $269,949,39O, and were
four times as great as in the January
to-April period in 1920.
An analysis shows large increase
In the number of textile bankrupt
cies. which equal 40 per cent Of the
total failures.
Evening star., 1921-05-07
PREDICTS NO FORWARD TREND
FOR STOCKS UNTIL THIS FALL
Financial Writer Says Gradual Relaxation
in Credit Restrictions Will Start Busi-
ness About August or September.

ratio as the result of loans and note
curtailment. and the importation OF
over $3.50. 100000 gold has risen from
its extreme low some Is per cent. ant
is back now to where it stood in the
summer of 1918. With such re.
covery further and a more genera
lowering of interest rates can onl!
be question of short time.
The investment market has shown
it's appreciation of what this means
for the prices of all securities. the
return on which is fixed. especially
when there is the accompanying fea-
ture of a heavy fall in commodity
prices. The latest compilation shows
that the commodity prices list came
down more in the month of April
than at any previous time.
The average decline was AZ per
cent, which means that the pur-
chasing power of the dollar was in
creased by a corresponding amount
AS investment values are founded
upon the money value and fluctuate
accordingly it is not to be wondered
at that the bond market should have
started forward this week with a
buying movement of larger proper
tions and attended by more of an ad-
vance than anything seen since the
elimination of the boom in January
Dehation End I'm Sight.
Deflation. by which is signified the
return to normal condition Of
things, has been pretty well com
pleted in prices. in production and
in credits. In the fourth and equal
ly vital quarter-namely, labor-tt
still has further to go. But two
important accomplishments along
this line stand in the record of the
present week. The first is the 20
per cent cut in the steel corpora
tion's pay rolls, which is ont appar-
emily to encounter any opposition.
The second is the disclosure in the
troubles with the marine workers
that this is a poor time to oppose
wage reductions with a strike. Des-
pite all that has been said by repre-
sentatives of the railwaymen against
their having to go with the rest,
these incidents seem bound to count
in the final disposition of the rail-
way wage problem.
If workers in steel, in textiles. in
shoe factories. in the garment trades
and in many other lines have had
to come down in their wages. it is
quite illogical for the railway unions
to claim exemption. The stock mar
ket, which never waits for things to
happen, but always looks forward,
has registered it's judgment in no un-
certain way. for in the rise this
ahead even of the usually favored in
dustrials, and railway bonds have
been the leading group in the invest
ment market.
To get productive costs down to a
reasonable basis has been the main
end of the business readjustment of
the last eight months. This end now
is in sight, and while wages will still
be far above the pre-war level and
while the price of fuel by past stand
ards seems excessively high. the
whole situation from the producers
standpoint is in sounder shape than
it has been in six years. With manu-
featuring costs down so that there is
some incentive to open up again and
with surplus supplies greatly re-
duced from what they were, the solid
groundwork for business recovery
has been laid.
Copyright. 1917
Evening star., 1921-05-07
WEEKS GAIN HELD
IN ACTIVE MARKET

NEW YORK. May THE upward
movement in bonds showed no signs OF
slackening in the trading today The
weeks advances were we'll maintained.
and in many directions increas sed
Liberty bonds. which were slightly
lower were an exception TO the move
ment in government issues.
Nearly all foreign bonds in this sec
ton of the market were again very
strong. as they had been yesterday.
French IS were heavily traded in as
high as 99a. which meant rise OF
over Il point from Thursday morning.
Danish municipal AS jumped up to over
a point to 100. The Bs were also Very
strong at the same figure. French city
bonds continued in demand at their high
figures for the year.
The extraordinary story put out in
New York this morning that the Cana
dian Pacific was in the market for a
$50. 900 loan was promptly denied
both by the Canadian Pacific Company
and by the banks in New York and
Pittsburgh, which We're set down as the
principals in the syndicate undertaking.
That a story of this sort, where even
details were given regarding the rate
of interest and the length of ma
turity. should have been published
and proved to be without foundation
WAS a most unusual occurrence.
Another FlOtatiOn.
Subscription books to the ten-mil-
lion dollar issue of Libby. Mcneil d
Libby per cent ten-year bonds were
closed very promptly this morning.
1t was announced that the Offering
had been oversubscribed.
Railway bonds were again inclined
to sympathize with the strength of
railway shares. New Orleans, Texas
and Mexico 5s were one of the fea :.
lures. getting up around 60, as com
pared with 5S yesterday morning.
Missouri Pacific general AZ again got
across SIS. st. Paul As of 1925 and the
convertible 41as were again in de-
mand at rising prices.
Evening star., 1921-05-07
COTTON MARKETS,

NEW YORK, May THE cotton
market was quiet early today. with nuc.
tuations irregular. There was bull
tsh comment on week end reviews OF
the goods trade and the strength OF
foreign exchange rates recently, par
ticularly in the case of francs There
was some southern selling here, but
fix prices. :
Futures opened steady: May. offered
1880: July, 1923; October, 1882; De-
cember. offered. 14.15; January. 1920.
NEW ORLEANS. May 7.-Prices
were higher around the opening OF
the cotton market today by from 3
to points. mainly on buying aroused
by private messages from LIVERPOOL
saying that there was a better feel.
ing there regarding the settlement OF
the coal strike.
Futures opened steady; May, 12.40,
July. 1881: October. 1887; December
1850: January. 1852.
Evening star., 1921-05-07
Grain. Produce and Live Stock
GRAIN AND PROVISIONS.

BALTIMORE. May tspeciaD.-Po.
tatoes. white. No. l. per cwt.. 90a1 90
cobblers. 90al.00: McCormicks. 65aS5
No. =. 40a50: new. per bbl. c.00aS.50
sweets per bbl.. 2.50a5.0 90: yams. ? 50a
500. Beans. green. pearl and wax
per hamper. 3 .00a4.50. Beets. per bunch
4aS Asparagus. per doz.. 1.s0a5.00.
Cabbage. per crate. 1.25a2.25. Gu
cumbers. per box. 4O0a5.00. Egg
plants. per crate. 350a5.00. Kale. per
bu.. l5a50. Lettuce. per basket. 75a
$50. Onions. per cwt, l.00a1.25 Pens
crate. 3.00a6.0O. Spring onions. per
100 lunches. 50a75. Spinach. per bu
2aa30. Radishes. per 100 bunches
3.oOa3.a0. Rhubarb, per 100 punches
3.00a5.O0.
Tomatoes. per crate. 1O0a5. so
400: loose. per cwt.. 1.50a250 Grape
fruit. per box. 2.50a5.50
Oranges, per box. 3.O0a6 90. Straw
berries, per Qt, 20a35.
Wheat-No. red winter, spot. f5a;
No red winter. garlicky. spot. 1.4s;
May. 1.4Sla.
Sales-Car lot of No. . red winter
garlicky. spot. at,1.52 per bushel: 1000
bushels of May No. red winter, at
! 1.5S per bushel
There was an advance of csc per bar.
| rel on all straight grades and soc per
barrel on all patent grades Of -four to-
day.
Corn-Cob. prime. yellow. 3s5a3 80
per barrel. in car lots: contract corn
spot, 1e2; May. 70a: No. 4. 67A
| track corn. yellow. No. or better. IS
Oats-No. white. 49: No. 8 white, Al
Rye-Bag lots of nearby rye, as te
| quality. 1.30al.4o per bushel: No. Z
western. spot. 1.51 per bushel; No. 3
Las per bushel
Hay-No. l timothy. nominal: stand.
ard timothy, 23.OOa23 so: No. timo,
thy. 22ooa22 so: No. timothy. 1450a
! 1900; No. l light clover. mixed. 20 0Oa
2o.50; No. light clover. mixed. 1S OOa
700; No: ! clover; mixed. 1S:ooa1s 500
No: clover. mixed. 14.OOa17 90; No. 3
| II l.ooa13.oo; No. clover, Is GOALS 90
No 2 clover. 12.o0a13.OO; No. 3, 10Oos
ll.5O; sample hay, 11.00a14.OO.
Straw-No. !. nominal; No. straight
rye, nominal; No. l tangled rye. 170O
No. tangled rye, 1900; No. l wheat
| 13.O0a13.50; No. 2 wheat. 12OOa125o No
| ! oat, nominal. 1s.OOa1S.50; No 2 oat
| Is. 00a17.0O.
| CHICAGO, May New upturns ir
| the price of wheat took place Yesterday
Evening star., 1921-05-07
OUTLOOK FOR WHEAT.

CHICAGO. May THE Modern
Miller says: In important sections
OF the southwest winter wheat Is
not doing we'll and there is doubt
whether sickly looking fields will
make a crop. Considerable rust is
reported in Oklahoma In Missouri
yellow spots have been caused by
excessive rain. General crop pros
poets are still good and indicate a
Yield larger than last year. There
il sufficient moisture for the pres
ent. but more rain is needed in west
ern Nebraska and some sections of
Kansas Seeding Of spring wheat in
the northwest is mostly completed,
the crop coming up to a good stand
in the southern districts.
Evening star., 1921-05-07
V42GINIA BERRIES HIGH.

BALTIMORE, May Z. Eastern
shore of Virginia reports estimate a
IS to Is per cent crop of Strawberries
and prices ruling extremely high
The first car shipped brought 1913 a
crate, and since then choice berries
have gone as high as SIS per crate.
While the unfavorable weather has
the eastern shore of Maryland to any
great extent, the growers expect to
start picking big quantities next
week, and there is every indication
that they will realize fancy prices
for their stock.
Evening star., 1921-05-07
MONEY AND EXCHANGE.

NEW YORK, May Prime mer-
camille paper, 7a7A: exchange strong.
sterling sixty-day bills and CONNER
cial sixty-day bills on banks. 3.s3A i;
commercial sixty-day bills. 3.93; de-
mand, 3.97A; cables. 3.9SA; francs,
demand, S.32; cables. S.34; Belgian
francs, demand, S.31: cables, S.33;
guilders. demand. 35.42; cables, 1852;
lire, demand. 514; cables, SIG; marks.
demand. Isl; cables, 1.52; Greece,
demand. $50; Sweden. demand. 1925;
Norway, demand. 1880; Argentina,
demand. 5000: Brazilian. demand.
1900. Montreal. 1916 per cent dis
count. Government and railroad
bonds, firm.
Evening star., 1921-05-07
LONDON SHIP OFFICIAL DIES.

LONDON, May 7.-Announcement is
made Of the death of Herbert Couls-
toun Gardner, Baron Burghclere, di-
rector of the Peninsular and Oriental
Steamship Company. Baron Burgh-
clere, who was born in 1916. acted as
president Of the board of agriculture
from 1892 to 1895 and was at the
time of his death chairman Of the
royal commission on historical monu-
mentS.
Evening star., 1921-05-07
Washington Stock Exchange

Washington Loan and Trust-10 at go, 10
fat $50
IAnston Monotype-l0 at n.
Aergenthaler Lnotype-10 at 10. 10 At
13O 10 at 120, 10 at 120. 10 At 10 10 At
119H.
AFTER CALL.
Washington Gas 5s-$5O0 at 7eh. 81 900
at 70.
Yarmers and Mechanics Bank-15 at 240. 2
at 30 10 At 24O.
Potomac Electric general mortgage 6s-
. 81 600 at o..
Farmers and Mechanics Bank-1o at 24o.
10 at 240.
Capital Traction-lo at 90.
Washington Railway 4-$1 900 at 81, $500
at 81. $500 at 81. 81 600 At 81.
Washington Gas Lights at 41&.
Capital Traction 5s-$1 900 at S7k.
Evening star., 1921-05-07
LOW DIVIDEND RATE.

FALL RIVER, Mass. May =
Dividends for the second quarter of
the local mill year of 1921. accord
ing to figures compiled today, totaled
$766,575. an average of approximately
2 per cent. This is the lowest rate
since the first quarter of 1916. when
the rate was III per cent. The tota'
of the first quarter of 1921 ".
$169,575 greater.
Evening star., 1921-05-07
BAR SILVER QUOTATIONS,

NEW YORK, May 7-Bar silver,
domestic. 99A; foreign, 62A: Mex
lean dollars, 48.
LONDON, May 7-Bar silver, 35hd
per ounce. Money, 4 per cent. Dis
counts short bills per cent. Three
month bills, 5ka5A per cent.
Evening star., 1921-05-07
NEW YORK BANK STATEMENT.

NEW YORK. May 1.-THE actual
condition Of clearing house banks and
trust companies for the week shows
excess OF legal requirements. This is
an increase of S7.043,370 from last
week.
Evening star., 1921-05-07
DIVIDENDS DECLARED,
B0URsE CLOSED SATURDAYS,

PARIS. May THE Paris bourse
hereafter will be closed on Saturday IS
until September.
Evening star., 1921-05-07
COFFEE MARKET STEADY.

NEW YORK. April 7.-Conee-Rto.
No. :. cents Futures steady; July.
500; December. 6.s5.
Evening star., 1921-05-07
FOREIGN EXCHANGE.

Quotations furnished by w. B. Hibbs 4 G.
Selling checks: Dollar values at noon tod
Evening star., 1921-05-07
TODAY'S BOND PRICES.

Noon prices reported to The star over eie.'
New York Washington wire by Redmond q w.
Evening star., 1921-05-07
FOREIGN BONDS.
Quotations furnished by W. B. Hibbs f. IN
sHORT.TERM SECURITIES

Closing prices:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-29
EXPECT CHAMPION
TO RETURN EARLY
Dempsey's Bout With Carpen-
tier Is In Sad Middle, That
With Jess Worse.

NEW YORK, Jan. 29.-Now that the
mayor of Portland. Ore. has barred
Jack Dempsey from boxing there in
April. 1t is expected that the worlds
title-holder will hasten in this direc-
ton where his proposed clash with
Georges Carpenter is in a sad mud
die. Just what is TO become of the
Willard Dempsey ARRAY, booked for
March II. at Madison Square Garden
is a mystery. Few folks care to
mention ii.
While Tex Richard is inclined to
hold on to the Carpenter bout. be-
lieving that it will draw million
dollar gate, he may withdraw
eventually and let Charles Cochran.
the English promoter, stage it where
ever he wishes. Cochran is known to
favor London as place for the bout.
but Jack Dempsey has no great desire
to try his luck on the ocean.
The new rule here, holding the top
price down to SIS. has just about
killed all hope there might have been
for Dempsey to defend his title
against Carpenter in this state, but
the Canadian promoters who have Of
fered 100000 for the contest will be
under no such handicap. 1t is barely
possible that they may land 1t.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-29
WHITE S0XSE|
TWO MORE ROCKIES
SandIot First Stacker and High
School Pitcher Sign for a
Vacation.
Nv HAROLD JOHNSON.

CHICAGO, Jan. 2s.-kid Gleason
and Pat Moran will be up against
much the same proposition when
they inaugurate spring training in
the camps of the White Sox and
Reds in March. Both will be sur
rounded by newcomers galore and
asked to pass Judgment on flock
of rockies.
The White Sox roster continues to
grow. for this morning Secretary
Harry Gardiner announced the addi-
ton Of Pat Monohan. first sack re-
cruit. and Stanley King, a right
handler pitcher. to the party that
will be taken to Waxahachie, Tex.
Monohan is twenty-one years old.
standing 5 feet 10 inches and seal
ing at ITS pounds. according to the
bureau of statistics. He bats left
handed and likewise fiips the boss
hide with the same mitt. party
entitled Charley Huber, once trainer
for the Reds, spied Monohan in action
on one of the Cincy semi-pro clubs
and proceeded forthwith to inform
the Sox management of the youths
extraordinary talents.
THREE CANDIDATES FOR SACK.
With the Rhineland semi-pro on
the Job Gleason will be stocked with
first basemen during the training
routine, the South Side list previous
ly having boosted two candidates for
the post in Earl Shelly. Of Salt Lake.
and Harold Bubser. who played last
season on the Oak Park semi-pros
under the management of Frank Nc
Nichols.
school team at Lexington, KY, and
o. q nd nf
cording to Hervey Mcclellan.
when one pauses to consider the
situation at Cincinnati he readily OBJ
serves that Moran is confronted by
no mean problem in the coming
pennant joust. Since entering upon
his latest role as trading person
the grizzled Patrick has wrought
some wondrous changes in the Red
land machine. f|
DUTCH RUETHER GONE. ~
Gone from the club are Dutch,
Ruether, Bill Rariden, Morris Rath.
Jimmy Ring. Breasy Nesle. Eddie
Sticking and Nick Allen. In turn Pat
has acquired RUDE Marquard. Eppa
Jeptha Rixey, jr., and the sprightly
Dode Paskert. The Reds have dis
posed of f'ngng notabes who
achieved thirty-three victories and
lost twenty-eight last season. and
received in trade pitchers who won
twenty-five games and lost thirty.
Word emanates from Cincinnati
that steps are under way to land
Harold Jsnvrin, sll-around infelder,
and Austin McHenry, outfielder. from
the st. Louis Cardinals via the swap
ping medium.
II has developed that when the
Reds negotiated for the services of
Rabbit Meanwhile, Manager Mitchell
of the Braves demanded that Moran
give in exchange Larry Kopf. Pete
Duncan and Ring. but Pat turned
that proposition down.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-29
GEORGETOWN Wins
ONLY HOME GAME
GalIaudet and George Washing
ton Beaten by Fordham
and Hopkins.

Georgetown was the only home
basketball quint to successfully
stave or defeat in last nights floor
contests. At that the Hilltoppers
nipped a Brooklyn Polytechnic rally
toward the latter part of the con-
test which threatened considerably.
Gallaudet was beaten by Fordham.
present trip. George Washington
fell down before Hopkins when with
an apparent lead and the game safely
tucked away, the Hopkins men pulled
out
The Hilltoppers won by SO to 80
playing an important part in pro-
ceedings. With Nelson, the visiting
forward. Flavin staged a great floor
duel. Nelson got six baskets from
the moor and four out Of eight free
losses. Flavin Gagged seven from the
floor and four free losses.
Gallaudet was forced to watch the
Foroham players roll up the score
after Bouchard was removed for per-
sonal fouls in the first half. Gordon,
the visiting center, got going during
the contest and accounted for Fl
points. At half time Gallaudet led
by II to IA, but fell behind when
Gordon and Kelly made their shots
good in the second half.
At the Central Coliseum Johns
Hopkins, after being clearly out
classed in the first half. staged a
comeback and, aided with some un-
usually lucky work by Owings, won
by 80 to 20. The Hatchetites led at
half time by 10 to IL and ran the
count up to % to 13 shortly after the
half opened.
Hopkins spurted after Daily left
the game on the personal foul route
and with Owings and Barrett Gag
ing almost impossible shots, climb
ed up to even terms. The Baltimore
team displayed deal OF fight and
literally pulled the game out Of the
fire on two fine floor baskets. The
Hatchetites missed many easy baskets
and were lamentatly weak from the
15-foot line.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-01-29
WILL REMAIN
!. LIGHTWEIGHT
Benny Leonard, According to
BILLY Gibson, Not Thinking
of Moving Up.
By JACK yEIOCk,

NEW YORK, Jan. 29.-Benny
Leonard is in no hurry to invade
Reports that the lightweight
champion contemplates bounding
into the 145-pound class in the near
future were fatty denied today by
Billy Gibson, his manager.
Leonard has plenty of matches in
sight with leading lightweights," said
Gibson. ''and as long as this Is the
situation there is no reason why he
should give away weight to any
body. Some day he may go after
the welterweight title but rumors
that he is going to challenge the
winner of the coming Britton-Lewis
bout or that he will shortly step
out of his class in search of matches
are the bunk"
offer for Leonard to box Johnny Bas-
nam, the English welterweight
champion in London, and may take
he champion abroad for the one
match.
IF the terms are right" smiled
Billy. Leonard will take Basham on,
probably in June, in which event we
would sail from here in April. The
fact that we have this match under
consideration has been responsible
for recent reports about Leonard's
jumping into welterweight society.
In addition to this offer 1 am
considering four or five others for
bouts on this side. A Baltimore pro-
moter has offered us $4,000 to box Lew
Tender in the Oriole City. New Or
leans, St. Louis, Cleveland, and Day
ton are after him to box opponents
10 be named later and Tom Andrews
wants to match Leonard and Richie
Mitchell for a return bout in Mil
waukee.
Leonard can keep busy. therefore,
among boys of his own weight and
right now 1t looks like a busy year"
There is a chance that Leonard may
meet Tender or Jackson here within
the next two months. Tender and
his manager have just taken out
licenses, which indicates that they
expect to box in a New York ring,
and there is an effort being made to
ret Tender and Jackson together
aere in a hfteen-round bout the win
ner to get Leonard.