davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-05-05

Steel Corporations Action
on Wages Stimulates
Buying; Profit Taking
Fails TO Stop Rally

! The application Of the principles Of
| dcaation to thc return to labor by the
United States Steel Corporation gem
Grated fresh enthusiasm at the market
place yesterday. and overcamc the in
fiuence making for reaction after the
rally. AT the opening, spectators ex-+
pressed their approval Of the move
ment of tho corporation toward stabil-
lied conditions by bidding up sccuri-
ties, and, although profit taking and
short selling through the day caused
spells Of irregularity, another spurt in
the final hour caused the average Of
fifty representative industrial and
railroad stocks to climb to the highest
level attained thus Gar in 1924.
Another development of fundamental
Importance occurred after the market
closed. in the announcement by Ben
jamin Strong that the Federal Reserve
Bank Of New York had cut it's discount
rate from to 6h per cent. As has
been pointed out before, the upward
movement In the stock market in the last
two weeks has been to large meas
ure an attempt to discount the easing
Of credit and specifically = reduction
In TIE rate Of the New York Reserve
Bank. Before the action was made
known there was much discussion of
the event In brokerage quarters. and
the gossip induced buying Of stock.
The recession from the peak rate here
was clearly fcreshadowed by the de-
cision Of the Boston Reserve Bank on
April Ia to lower Its commercial paper
discount rate from to 8 per cent, and
last week by the reduction OF the Bank
of England rate from T to 6as per
cent.
Yesterdays action wss just one more
significant message Of cheer from
banking to business and represents The
view of the Reserve authorities that
this district is out Of the woods as
far as the financial pinch Of readjust-
ment Is concerned. On the other hand.
officials Of the system are likely to look
askance at efforts to create a new
structure Of imitation on the founda-
tion Of the reduced rates. which como
after. months Of contraction Of out
standing loans to member banks and
Of influx Of gold from overseas. At
tho Stock Exchange call money was
offered at 61h and per cent yesterday.
The high rate reflects heavy govern
ment Withdrawals Of deposits from the
banks Of the district and also an ex-
pansion of the stock market loan nc
count as result Of the rise in stocks.
In yesterdays security fuctuations
there was struggle between technical
factors making for reaction and the
news, and the latter won out. The
rails were drm. as traders evidently
interpreted the wage cut by tho Steel
Corporation AZ an indication that the
railroads could emerge from their
financial troubles by reducing wages.
Foreign exchanges were quiet yes
terday. and although sterling was
slightly easier the Continental cur
rencies continued firm. Cotton prices
were easy, and grain quotations
slumped after the recent recovery.
New-York tribune., 1921-05-05
Iii w all Street
Mitchell IN the Job

Charles II. Mitchell, the new presi.
dent OF the National City Bank, elected
ON Tuesday to succeed James A. Still
man, took mp his duties yesterday as
the chief executive Of the largest bank
in the country. Most Of the day. wss
spent in handshaking and receiving
congratulations Of Mr.. Mitchell's host
Of friends To-day he Will move his
official quarters from the City Com
pany door 10 the main banking door,
although he Will continue as the active
head o7 thc bond distributing organiza-
tion. Mr.. Mitchell's elevation to the
presidency was bull argument on the
stock Of the National City Bank yea
terday, and II opened at $817 share,
against closing Of $305 the day be-
fore, an advance of $I2 share. The
bid quotation was held at $317 the rest
Of the day, but no stock was to be
had; In fact, there was none offered at
any figure. Reports that with the
change in tho president control Of the
City Bank had passed into new hands
were vigorously denied in authoritative
quarters. II has been rumored in this
connection that control has passed
from the Rockefsllers to the Morgan
interests.
New-York tribune., 1921-05-05

An increase in the authorized capi-
tai stock from S175,0O0, 600 to s1s5io0o,-
600 will be submitted to stockholders
Of the General Electric Company for
approval at the annual meeting to be
held in Schenectady on May 10. The
purpose OF the proposed increase is to
provide for the per cent stock
dividend, which has become q fixed
part of the conpany's policy, and to
set up margin of unissued stock
against the $4,000 shares to which em-
ployees have subscribed. but which will
be held by the company during pay
ment. The July stock dividend will
bring the total stock outstanding up
to approximately $l72 100000, which,
with the 5000 900 employees subscrip-
ton stock, would make the total for
which the company IL liable, SIT, $780,
600, or $2,b00,000 over the present
authorization.
New-York tribune., 1921-05-05

Hayden, Stone q Co, in a revised
statement covering the 1920 operations
OF the Utah, Ray Consolidated, Chino
and Nevada Consolidated, say in part:
I'VE are confidently Of the opinion that
the closing down Of these mines is only
a temporary necessity and that when
favorable conditions shall return, as
they unquestionably must, these mines
w1!l again resume operations. When
this takes place costs will be lower.
and with tho increased demand for the
metal the market price must advance.
thus giving fair margin Of profit be-
tween cost and selling price" The
statement also pointed out that the
cost OF Utah's entire ore reserves at
the present market price, exclusive Of
net quick assets, plants, railroads, etc,
Is cents ton: Nevada, .0o6 cents
Chino, cents, and Ray, .002 cents.
New-York tribune., 1921-05-05
Allied Chemical ard Dive

Recent strength in the new Allied
Chemical and Dye Corporation shares
has been accompanied by reports that
q pool was putting up the stock to en-
able the company to make new offer
ing later. Now come statements
that the company has no intention OF
issuing any stock at this time. The
rise of the last few days in the value
of the shares was attributed to i'm
proved business conditions and tariff
activities in Washington, which if
successful, would protect some Of the
company's products from foreign com
petition.
New-York tribune., 1921-05-05
The Dollar in Foreign Exchange

Foreign exchange rates moved within
narrower limits yesterday and held
fairly steady in heavy dealings, an in
creased demand developing on the re-
action from Tuesdays high levels.
Sterling eased off ss cent to $3.o71s
but. francs held firm and worked up
slightly. Swiss francs and guilders
were strong, establishing new high
levels For the year. German marks
were in supply and dropped back to
~ cents at one time.
South American rates were steady,
the only change being slight rise in
the Urugusyan peso. Far Eastern rates
held at Tuesdays high.
New-York tribune., 1921-05-05
Appeal for Salvation Army

special committee Of the Stock Ex-
change has been organized to make !
special appeal to the members for con-
e ihntions to the Salvation Army Home
Service Fund Committee, which is now
conducting campaign to raise funds,
Ihe ccmmittee is beaded by Gerard
Bee kman Hoppin. The other members
are William ]. Berg. Graham F.
blandy, George B. buchanan, Clarence
]. honsman, Edward Roesler and Rich
ard Whitney. rs B - /
New-York tribune., 1921-05-05
Otis Elevator Stock Dividend

Directors Of The Otis Elevator Com
pany have declared stock dividend Of
90 per cent on the common stock. paw
able July ! to stockholders Of record
june Is. This will increase the amount
outstanding to approximately $4,000
GOO. The present cash rate is s per
cent. The stock closed yesterday at
l45, up ga points. At the annual
meeting on April 25 the chairman Of
the board announced that the company
had over s3,0Q0.000 cash against ST 500,
600 on December 81, 1920. The carry
over OF orders from 1920 totaled $25,-
0oO,000 to $30,000.000, sufficient to keep
the plants busy for six months. For
the Marcn quarter the company re-
ported net income Of 81. .295,088
New-York tribune., 1921-05-05

The announcement Of the reduction
in the rate on commercial paper redis-
counts by the Federal Reserve Bank OF
New York did not come until forty
minutes aftcr the market closed. How
ever, rumors were afoat in the Street
throughout the day that a cut was i'm
pending and this encouraged new buy
ing of stocks on the argument that the
news would be constructive, and at the
same time made the bears nervous.
New-York tribune., 1921-05-05
Steel Stocks Advance

The announcement by the Steel Cor.
poration of 20 per cent ware cnt.
effective May is, did not prove to be 3
bearish influence on the steel shares
Yesterday. Steel common was steadily
bought throughout the day, and closed
the stock market session at S5ss, new
high for the year and net gain of
IA, the last previous high being IS.
Even Midvale, which reported deficit
for the March quarter amounting to
s1,395 .202, was up a fraction. Lacka
wanna and Bethlehem were the strong
est of the independent steel GROUP.
both recording gains of over point
each.
New-York tribune., 1921-05-05
Paris Market Firm

PARIS, May 4.--Prices were firm on
the Bourse to-day. Three per cent
rents, Of francs 25 centimes. Exchange
on London, 90 francs 80 centimes. Five
per cent loan, so francs 10 centimes
ne dollar was quoted at IL francs
63 5a centimes.
New-York tribune., 1921-05-05
Kaufman Stores Report

For the year ended December 81 the
Kaufman Department Stores reported
net profits, after charges and Federal
taxes, of $1,503s399, equivalent, after
preferred dividends. to S18.29 share
earned on the $7.500,D00 common
stock, compared to S2.039 1881, or $25.37
g share, earned in the preceding year.
Surplus, after dividends, amounted to
S1,072,149, against $1,902,881.
New-York tribune., 1921-05-05

Checks (nom.> as.s7 2s.s7
CHILE (par 36.5 cents pesol
Checks .....,..11.75 11.75 1890
URUGUAY (par los.42 cents peso)s
Checks ........66.25 $500
VENEZUELA (par 1873 cents a bolivar)
Checks .......16.26 1926
Canadian Exchange-New York funds in
Montreal, IL IL per cent premium; Montreal
funds in New York. 1890 per cent discount
New-York tribune., 1921-05-05
London Money Market

LONDON, May A. Bar silver 35d ner
ounce; bar gold 103s Sd. Money Ak
per cent. Discount rates: Short hills
per cent; three month bills 5lz to 5s1
per cent -
New-York tribune., 1921-05-05

LONDON, May a.--Standard copper
spot, I'll los; futures, f7O 5s. Electro
lytac, spot 272; futures, s73. Tin.
spot, s169 12s Sd: futures, g1T2 Is ID.
s,,sast spot, 122 5s; futures, s22 IS,
ZINC, spot, fa5 los; futures, s28 i6s.
New-York tribune., 1921-05-05
Great Northern,

The Great Northern Railway, in its
March report to the Interstate Com
merce Commission, includes the amount
Of it's passenger surcharges. This is
the sum received from the Pullman
Company for the additional half cent
which is charged for riding In Pull
man car, In addition to the Pullman
charge and the regular railroad fare.
For March the total OF the surcharge
on the Great Northern was $26.8s9.
Total passenger revenues excluding the
surcharge and revenue received from,
passenger trains, other than passenger
fares, were s1,429,000 roughly. If aver
age passenger fares were equal to 3
cents q mile, this would mean that
about one passenger in twenty on the
Great Northern rides on Pullman.
New-York tribune., 1921-05-05
Another Cat in Crude

That stable conditions have not yet
returned in the petroleum industry was
apparent yesterday, when the Texas
Company announced reduction in the
price of Gulf Coast crude Of 25 cents
barrel from $1.25 to 81, effective i'm
mediately. This action followed q sim
liar cut made by the Humble Oil and
Refining Company, q Standard Oil sub
sidiary, and the Gulf Oil Corporation
about two weeks ago.
New-York tribune., 1921-05-05

Bank CIearlngs Bank clearings at
New York yesterday wore: Exchanges
$678. .169,219; balances, $66,279,7S2.
Silver-London, 85d; New York, do
mestic bar, 99Nc; foreign, 61ssc; Mex
lean dollars, 47c.
New-York tribune., 1921-05-05

The last possible obstacle in the way
Of preventing consummation of pur-
chase of the Aetna Explosives Com
pany by the Hercules Powder Company
seems to have been eliminated by de-
cision of the United States Circuit
Court at Wilmington allowing the mer
ger. Advices to this effect were re-
ceived by bankers connected with the
Aetna Explosives Company yesterday.
New-York tribune., 1921-05-05
Money and Credit

The easier tore in call money rates
on the Stock Exchange yesterday may
nave been IN anticipation Of tho reduc-
tion in the Federal Reserve Bank's dis
count rate. The ruling rate ali dav
was 6h per cent, as .against z the day
before.
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-03-05

ing me ! am keeping house now and
am able 10 do all Of my work. | cannot
say enough for your medicine. II has
done more for me than any doctor !
have not paper enough 10 tell you how
much II has done for me and for my
friends. You may print this letter II
you wish. - ELlZAHETH G. CoRLEY,
care Of A. =. Coriey. Edmund, S. G.
Ability tc stard the strain Of work is
the privilege of the strong and healthy.
but how our hearts ache for the weak
and sickly women struggling with their
daily rounds Of household duties, with
backaches. headache. nervousness and
almost every movement brings a new
pain. Why will not he mass Of letters
from women all over this country, which
We have been publishing, convince such
women that Lydia T. Pinkham's VoPe
table Compound will help them just as
surely az It did Mrs Corloy?
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-03-05
Mix Dealers Get
Reprimand in Court

Tho campaign against alleged yio-
TORS of IA" rity ordinance in regard
| the sal, ut milk which began ,'--
rdny ly ihy city and county health
rlrtm,ut resulted iu 70 |r.pIrmuud
l. various mils vendors lu police
urt last uisht.
The dealer. WrrU charged with
lliuE milk boo tho city limits without
ligrusC and with mot having thrir
iripI inspected salvador Cuudr-
rit. a. H.urdnfiI hia ,mpluNc aud
Hams Creamery were fined $40
IA but tho fine wtg suspended ON
- promise that ih, d|,tlors secure
llDruHv and have their dairi,z In
|sriyl
Tho charges against Ia, othcrs were
smlsscd. -
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-03-05
HOUSE PASSES BILL
RAISING PAY OF
DISTRICT JUDGE
Senate Budget Bill Also
Adopted With One
Amendment

AANN hFRNNNNN
SANTA ~, y. NJ, Mach 1.-Thc
house OF representatives, tu IuNttl
mood Ht the %CunNouing Of tho body
ID . O'Clock Friday afternoon. heard
concert by tho Tscumcari BOY
Scout band, hero Tor the Santa fo
Automobile show ana immediately
hereafter passed into one of the
most strenuous hours or tho session
Rwhon ". \. Otcru. Jr., acting a- ro-
publican whip. undertook To- hurry
through "a number uf measures ful.
4rilling republican platform pledge.
H. was partially Hucc,ssful securing
I he pass1g, Of several important bills
nat not until several members OF tho
house had rrbcllcd. as favuritc meas
Ircs were pushed aside, one member
asserting uuErlly that IA" Santa lt
ouuty representative was trying to
lriyo mcmbcrs like a pack ~ burros
Win "a club
Mr.. OtcrO paid his respects 90 NE,
minority with the statement that the
line had come for the house TO at
end TO business and that II would
make better progress u there wcr,
uss urutnry ana ~ e. work.
The house first tabled ana then
oyiyed and passed senate bill 80.
70, establishing juvenile courts %
Increasing the salary 81 district
Judges $3.50 ID year. 4 hot dchl'C
rrumpauitd the passage of the ltll,
oius chiefly concerned with tho per
uuul differences ct members.
oihor measures passed during tho
SESSION Include.
COMMITTEE substitute for house hll
'o. so, revising she public health
ode.
Horsr resolution 40. 10. extending
Woodrow wilson H~rNFt.IlfIun OF
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-03-05
Catarrh Can he Cured

tatarrh 10 a local disease greatly innu-
od by constitutional conditions IL
reforc requires constitutional treat.
Int. HALLS CATARRH MEDICINE
taken internally and acts through
Blood on the Mucous Surfaces OF
| System. HALLS CATAR II II
.DiClNE destroys the foundation OF
l disease. gives the patient strength by
proving the general health aud assists
|turo In doing It's work.
Nh Druggists. Circulars free.
4. J. Cheney 4 Co. Toledo. Ohio.
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-03-05
TINE LONG TRAVERSE. uv Katho.
I-Lu LuLL Lll L.LL I~-.L--L-n


\ TITITIT WI" T~UNTTTI|TTU Inn
pU'iIH bon Ga, use of tho hyphon.
Among tho examples given hy the
children wus "hird-ptg,
"Thutr right ouroufIglugly
'Npw, Tommy ten mo why W. put q
hyphon lu bird -,apr'"'
IT'S for the bird Co cit ou. was
tho stHrtling %rcioiudor Science aud
Invention.
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-03-05

every month.
! was not able to do
any work and tried a
lot Of medicine. hut
got no relief. | saw
medicine adver
in a little book
was thrown in
door. and / had
not taken twob bottles
of LYDIA f.. Pink
hams Vegetable
Compound before |
see was help
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-03-05
WOMEN WHO
CANNOT WORK
Read Mrs. Corley's Letter and
Benefit by Her Experience

Edmund, sc. 81 was run down with
nervousness and female trouble and suf-
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-03-05
" E w B O K S
AT THE PUBLIC LIBRARY

ID Ath.aL H rH. t..r
Tho, are four one. act piIS# IE
tho Author uf Abraham Lincoln
Ih,g range Iu them, Irom tI, I.l
ant drama. Th, storm" tu tho elias
sic sy,t,ug found boz y %, 4 NiHnI
of the Trojan War"
-
THU lilII'iE TItENSl RE tl.
M'l.N. DO. A. NJ llhlIus
NrI'l'u boo lIn', simple Eu-,i7u
sifl, these stories have sUm'thiuE ut
-
ibIIIl'lSM hN Rose NuDuulIy
lniI'Il.m Ir second ratio .~"H'uDU-
ttilhW. cheap shortcuts. ]li'HaiUu
aud can't 20 DIS go IHtVI'ssIE iNuiuuI
by MI l'utiuIs uu Eurlilh newspaper
man, Do Dds wife 20 novelist both
a. whom are Eii'"l with a dare OF
what b. public wants. that their SON
aud daughter with soma oxford
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-03-05

dlttun fur r. now third party which
n. mLEML I.lI l.r nrn.Ilnnl M ~
The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-03-05

\ story OF the adventure 81 q group
OF people who arc -nIpNrygkri ON an
u]u,hurtrd island. whore th,l set up
q successful government.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-08
He's for AnJer.on.

10 the Editor OF The Times Dispat.h.
sr'-Permit an old.time virginia
Democrat TO say word M In ~h.,
seems 20 DC an unusual crisis in the
as'S OF our State. l am taxpayer
IN one OF the counties OF Virginia.
This year my taxes Amounted to noar.
~ two and one-half times as much ~,
last year on the same proner,y ~,
oouot others arc having Il similar
NpeI, renee. owing TO the disastrous
arouSht this year our people mr..
poorly prepared to meot hi, cpnr-
nous increase OF taxation. Besides
"hat are we getting for it? In sniic
oil inc proud claim made Ey some NJ
our democratic speakers that VIrl
gina, under Democratic control cha.
advanced TO the forefront OF ,hc sIs-
terhood of States. politically. indus.
trially and educationaIly," tho dis
tressing fact remains that I'm road.
guiding, Industrial development and
education virginia stands near tho
bottom.
II mistake not. our people. too
'"nS 'n"'"crent to public affairs, are
what have VIC to look forward to hui
continued increase OF taxation .and
othcr oppressive and unfair condi
ions! Before his nomination at IN.
primary MIR. Trinklc's motto was
Forward-not backward" but now
ne seems to be dcvoting all his at
'chtion to conditions a generation
ago: we are not Interested in that
SUBJECT. we are concerned about con-
unions now and prospects for the fu-
l"re, Like thousands OF other Demo-
ci''s "N 'his time. devouuy hope
and sincerely believe that tho ncr,
Governor OF Virginia will lie Colonel
Henry w. Anderson. of Richmond
INDEPENDENT
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-08

or results which the peoples OF the world
hope for, il the conclusions which it may
reach are to be arrived at in the broad
light OF day.
The fact must be borne in mind In con-
siderng this question, that neither Euro
pean nor Oriental statesmen have been
trained to function in the open. There is
not ministry in Europe that sits publicly.
Nor. for that matter, does the American
Cabinet hold its sessions in the presence OF
n single outsider. 1t is the practice OF prac-
tically all executive bodies OF that chara cter
10 fix upon policies at private conferences.
These policies are accounted for and de-
Tended in public, however.
II is too much to expect the statesmen
who will attend the Washington conference
10 reverse all the practices to which they
have adhered with respect TO publicity. The
visiting delegations may he counted upon
10 oppose any effort, however wholesome il
may be. OH the part of the American group,
10 sit i'll public. Should such sessions be
held il must be remembered. either the con-
ference will degenerate into a purely per-
functory proceeding. fail entirely in its
major purposes through lack of candOr Oh
the part of conferees who have never
learned how to deal with such issues as will
be presented with the spotlight playing
upon them all the time.
For these reasons. ii is certain that the
American delegation will make no move for
wholesale publicity and even il this will
prove Il disappointment to many interests
that feel that business OF such vital conse-
Quence should be transacted openly. thought
full persons will not complain. 1t will be
understood that the Americans are more
concerned over bringing the conference to
successful conclusion than they con-
cerned over the openness of the confer
ence's processes.
There will be open sessions Of course.
During the Paris peace conference they were
known as ''penary sessions" There will
be frequent occasions when the conferees
will sit publicly in order TO receive reports
from committees and in order to ratify find
ings or conclusions informally agreed upon.
At all closed sessions. moreover, there
will be official reporters who will make pub
lie the more important steps that may be
taken, emitting perhaps the greater part of
the debate which may be engaged in. 1t is
the debate itself that the foreigners are
most sensitive about. They do not hope for
any secret understandings, that u.s. secret
covenants, secretly arrived at. What they
desire, and what this government must
cord them. is the opportunity for the utmost
freedom of speech at the conference table
freedom which could not be vouchsafed at
public sessions OF the conference.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-11-08
MINIATURE AIMANAr.
.F|LLED-|N LAND GOES To
DISTRICT OF COLUMBIA,
Made Soil on Virginia Side of
Potomac Not in
State.
by Associated prcas.I

WASHlNGTON. Noy ~, =
boundary line OF the District o. CO.
iumbia on the Virginia side of the
iotomac. liz at low-watcr mark on
the virginia side. the Supreme Cour,
heid today In case brought by the
Marine Hallway and Coal Company.
Inc.
The Federal government. In max
ing river and harbor improvements
at Alexandria, constructed a "rip-
rap sea wall on the edge OF the
channel and deposited behind It ma
,erial drcdGcd from the river. :
claim to the hllcd-in area in front
OF it's plant WAS made by the Marine
Halfway and Coal Company on the
contention that the boundary should
be straight line drawn from head
land at low water mark particularly
from Jones Point to Point Lumlcy.
now Duke street. Alexandria which
would put all the reclaimed land in
the state OF Virginia except "A small
corner near Jones Point The Su-
prcme Court OF the District or Co
lumbia. and also Court of Appeals OF
the District. decided against the con
tentions OF the company.