davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1921-01-30
Petroleum Production
Gains; Imports Double

The monthly summary OF petroleum
statistics issued by the United States
Geological Survey shows that the
total production for the month Of
December 100. was 5S.ss1. 900 barrels
compared with 5S.6ss,OOO barrels for
the month OF November. Owing to
the extra day in the month Of Dc
cember. the daily average produc-
ton was $4,000 barrels less than in
the preceding month.
The total production for the year
1890 is given as 4l5.4O2.oeO barrels
compared with 377.71s.ooO barrels in
1919. Imports for 1890 amounted 70
I0S.I75.ooo barrels against only So
sec marrelsr the year before.
Consumption of domestic and i'm
ported petroleum during 1920 reached
the unprecedented total OF 551. .lSe-
900 barrels. Even with this increase
in consumption, amounting to ap-
proXimately IS0oo,0 900 barrels, Il
did not keep pace with the increase
in the available petroleum. The
total amount Of domestic and i'm
ported petroleum available lest wear
was 54s,577.0O0 barrRls At the end
OF the year there was a net in
crease in stocks Of approximately
lO.350.oOo barrels. On December 81.
the total stocks of domestic crude
petroleum was 155,sse,eoo barrels
and the stocks Of Mexican petroleum
held in the United States was 4
742,eo0 barrels.
The Washington herald., 1921-01-30
NATIONAL FORESTS
INCREASE
Timber Sales Show Big Gain
Over 1919; Graz
ing Recedes.

CHICAGO, Jan. 29.-Receipts from
the national forests for the fiscaI
year 1920 were greater by $4S5.O67
than for the previous year. accord
ing to the annual report of Col
W. B. Greeley, of the United States
Forest Service. The total receipts
for the fiscal year 1920 were *4.-
793,4S2.
Receipts from timber sales in
creased 1896, 800, while on the other
hand grazing receipts decreased
sl2S.ss34, chiefly because OF the re-
iuctioR N the herds of many per
nittees. The increase in timber re-
'"ipts shows the increasing demands
on the national forests. II funds
Ire provided for examination and
sale of national forest timber. now
in demand. the receipts from tim
bcr sales may be expected to in
crease still more rapidly until the
cut reaches the limit that must be
imposed in order to maintain a con-
ttnuous yield from the forests and
give stability to the industries and
communities that will gradually
come to be dependent upon them.
While receipts have been inCreas.
ing year after year. appropriations
have remained practically station
ary- From 1915 to 1920 receipts
increased 80 per cent. while the total
appropriation for, the Forest Serv-
ice increased S per cent, exclusive
Of deficiency appropriations for fire
lighting
The Washington herald., 1921-01-30
No Surplus Margin
In Weekly Grain ReUieu

II is ofncially reported that ex-
port shipment from the commence
ment of the crop year TO the nrst
Of January totals s20s .Oo0. .cSe bush
els. a record showing. and largely
In excess of last year, according to
Thomson & : McKfnnon in their
weekly grain review. 1t is believed
that there are further export sales
for shipment between now and the
middle Of April to the extent OF
10000. 900 to $4,000, ,oOO bushels, con-
tinues the report. However, there
is very little new foreign demand,
as the Argentine crop Is Offering.
despite the failure of the Argentine
government to nominate the amount
OF take to be imposed upon exports.
The Department of Agriculture
estimates the amount remaining for
marketable purposes at 32o.oee 600
bushels. This furnishes little II any
margin OF surplus over and above
home requirements, and new export
business between now and the new
crop. July ! next. The market is
dominated by the withdrawal Of the
foreign demand and by continuation
OF an unimportant demand from
millers: tie -four trade still being
materially beIowe normal Condf-
tIon OF the growing crop of winter
wheat in the Southwest is Sonsid-
cred good, although warm weather
has created some fear OF insect in
festatiOn. Reports from soft wheat
territory are not so favorable.
The Washington herald., 1921-01-30
LIBERTY BOND
OWNERS MAY Aid
JOBLESSCRISIS
Relief for Unemployment
Situation to Be Sought
Through This Channel.
no MAKE REQUEST
p7,000,O00 Holders Will Be
Asked to Support Foreign
Trade Corporations.

Seventeen million Liberty bond
owners, are to be invited to use
heir bonds to relieve the unem-
ployment situation and industrial
tagnatiOn, through a reopening Of
foreign markets for American
goods.
The bond owners will be asked
10 reinvest their government securi-
ties in foreign trade corporations
being formed under the Edge law.
which will provide credit to Eu-
eopean nations with which to buy
American products. Senators have
feseiyed information to this effect
krom those now organizing such
Corporations.
Congress, and particularly the
Senate. is watching closely these
Corporations. which are looked to
eolve the problem which members
bf Congress acknowledge they have
hailed to do. That problem is to
transfer American surpluses of ag,
kfcultural and manufactured prod
pets to the empty food storehouses
Ind idle factories Of Europe. When
congress met in December this
problem was being agitated more
than any other and promises were
nade it would speedily be solved,
kt least temporarily.
War Finance Agency FsiIed.
Passage of the resolution reviving
the War Finance Corporation was
counted on to give initial impetus
o financing Of foreign buyers. Sen
ator Capper, of Kansas, who early
suggested that method, admitted
yesterday it has failed, principally.
be said. because of the hostility Of
Democratic officials in the Treasury
Department.
I'VE are looking to the eNpOr,
nrade corporations now as the chief
1nope Of solving the problem said
sspper One Of these, with S1OO,
poo, 900 capital, is being formed, with
bnany big financial men interested
in it,"
Other Senators agreed with Cap
per that private capital and charity
1nust take care Of reopening EurOp-
can markets anil feeding EurOp"s
starving. No proposal to extend
gCvernment credit to Poland,
Czecho- 81 lOvakia JugO-Slavia or
other small countries would got
Through Congress. they say, because
of popular disapproval of more loans
ito foreign countries.
In a letter to Capper this week.
John McHuEh. member OF the or
Sanization committee OF the S1O0.-
0OO, 900 corporation. said that every
day shows more clearly the vital
need of getting credit to Europe to
relieve industrial and economic con-
ditions here.
The Washington herald., 1921-01-30
BANK CLEARINGS.

A slight narrowing of the margin
Of decrease in bank clearings is dis
closed in last weeks returns, the
aggregate at twenty leading Centers
in the United States, as reported to
Dun's Review. being S6,555, ,34o.1S5,
or 1872 per cent less than the $7.+65,-
461,S72 of the corresponding week
last year. A loss of considers BIZ
size still appears at. New York Citv.
where the weeks total Of Slo45,-
so4,S74 is lis per Cett below an"
S4,569.s44,25S of a year ago. while
the clearings at points outside the
metropolis, s2.50s,735,3l1, are 1873
per cent smaller than the s2,Se5,6l7.-
6S4 of this week of 1890. or the
cities included in the statement,
Pittsburgh, Louisville. Minneapolis
and Los Angeles alone report in
creases, and the reductions are es-
pecially marked at Atlanta, New
Orleans, st. Louis, Kansas City,
om"ha and Seattle.
Average daily bank clearings for
the year to date. and. for the three
preceding. months, are compared be-
low for three years:
The Washington herald., 1921-01-30
ROYSE AGAINST
TAX FREE ISSUES
Terre Haute Trust Head Re
CARDS Such Loans as Busi-
ness Menace.

The existence Of tax exempt Sc
curities is one Of the greatest plen-
aces to business today" writes
James S Royse, president of the
Terre Haute Trust Company. in a
conDunicatioh which has just been
made public by the American Bank
ers' Association.
He says that housing and build
ing construction would show no
possible need for, public subsidy. for
tax exemption OF mortgage interest
for tax exemption Of new buildings.
and so forth, II the States and the
United states would ADOPT a policy
Of making no securities exempt
from taxation.
Building and loan associations
loan money at variable rates-frOm
6.2I to per cent and over. These
loans as I understand il, are paid
on monthly and loans Of this kind
run from ten to eleven years. Trust
companies and savings banks OF
this city do not make loans on the
building and loan plan at all, but
this city is well supplied with build
ing and loan associations to take
care of that. We consider them a
big help, because they loan from
! 60 to 20 per cent Of the value OF the
property. while banks and trust
| companies DO not loan more than
| % per cent on the actual value and
most OF the loans arc around 90
per cent. VIC consider the building
and loan associations are quite an
assistance to the home builders
We have no objection to the
| Federal 'home loan bank, as !
think our community here would be
I fzbIe to take care OF itself anyhow
There might be some Communities
| in which the Federal home loan
bank is a necessity. but l am op-
posed to the securities which the
| Federal home loan banks sell and
which the Federal home loan banks
might sell. being tax exempt Sc
CuriticS.
"As ] said above, think tax eX-
ompt securities one Of the greatest
drawbacks to the business OF our
country"
The Washington herald., 1921-01-30
CHIEF CURB TRADE
in MINING GROUPS
Business in Other Issues Lags
And Few Orders on
Either Side.

NEW YORK, Jan. 29.-The curb
blarket today was practically a
repetition of the Weekend two
hour sessions Of the past few
months. Business was unusually
mail, but the tone was compare
lively STEADY. The professional ele-
Fnent showed less interest than
heretofore an dmerely evened ac-
Eounts over Sunday. Commission
house had a few orders, but these
|were distributed on both the buy
Ing and selling sides and had little
Enect Insiders watched the trad
ing and kept supporting orders in
Ehe market under the prevailing
levels, but made no purchases, 50
Tar sCOuld be asCe rtained.
The bulk of the trading was again
(n the mining group, where the
leaders of the past two weeks again
tame5 in for considerable interest.
elthough transactions were smaller
khan on the previous days of the
bast week In the oil stocks deal
|ngs were unusually small and
brice changes were confined within
harrow limits. The tone, however,
Pvas steady.
Bonds were quiet with price
khanges generally slightly higher.
The Washington herald., 1921-01-30
Electricity Production
Shows Slight Gain

According to a report by the U. S
Geological Survey the average daily
production OF electric power in pub
lie utility plants in the United States
in November was l23,6o0,o 900 XIV
hrs. which is an increase of $780,
900 XIV. hrs. over the preceding
month. The gain in November is
probably due to the increased use
of electricity for lighting. purposes,
The curve of average daily produc-
ton for 1920. shows a reduction in
the demand for power .due to the
slowing up of industries in the latter
half Of the year. Based on the out
put for eleven months. tits estims-
ted that the total 1920 production
will be about AL billion XIV. hrs.
This is an increase of about,I3.4 per
cent over the output for 1919.
The Washington herald., 1921-01-30
COTTON DECLINES
AFTER HIGHSTART
Strength at Opening Due to
Sharp Advances in
Exchange.

NEW YORK, Jan. 29.-Business in
cotton was small today and the mar
Nct turned heavy after a frmer
start. Initial gains of IL to II
points were due to the fixing by the
allies of the reparations that Ger
many must pay and to ADVANCES in
French, Belgian and sterling ex-
change.
Wall Street and the trade fur
nished the chief buying power at
the start, while Liverpool and the
South sold. Offerings later were in
excess of the demand and as a re-
suit quotations lost all of their early
improvement. The chief trading fea-
turc of the session was switching
rom near to late months, which was
.fected without much change in diff
terenCes. Recent estimates of the
cost of carrying cotton here have
included commissions, which bring
1t to between 35 and so points.
without allowance for commissions
the cost would be between rs and 35
points per month. One authority
said that a March July difference OF
around so points is as wide as one
may expect on the ground that 1t
-cpresents very nearly a carrying
charge to a man who has cotton in
stock here. At the same time he
said that the difference is not likely
o narrow much more from a carry
ing point. At present March is ahout
~ points under July.
The market showed little change
late in the session. With the old
crop losing its influence as a factor
on sentiment and as new crops pros
poets have not Yet shaped them
elves sufficiently TO create any
active interest there was a tendency
to hold off. Final quotations were
barely steady at a net gain of
points to a decline OF Is points.
Spot here was quiet with mid
ding unchanged at 14.75s; there
were no sales.
Spot at New Orleans was quiet
with middling unchanged at l4.25c;
the sales were 325 bales
The receipts of cotton in bales at
the following points today were:
Galveston. 11,463: New Orleans.
6.27@: Savannah. 1.125; St Louis
2,S4S; Houston. 9.21S
Following tDIavs-
The Washington herald., 1921-01-30
TOTAL OF Sl,25O
in FINES PLACED
ON OLD DOMINION
District Suburban Line
Assessed Seven Times
By State Board.

RICHMOND, Jan. 29-The State
Corporation Commission has as
sessed fines aGgrcGating $3.50
against the Washington and Old
Dominion Railway Company for
ignoring the commissions sweeping
orders for better service on it's lines,
and will continue to fine the car
rier as they fail to observe the
mandates of the board, it was in
dicated here today.
Counsel for the company ap-
peared today and informed the
commissioners unofficially that the
company had purchased and put
into operation an electric locomo-
tive to expedite freight.
Changes Demanded.
The principal features of the COM
missions order for the betterment
of the service were:
The commission finds the Wash
ington and Old Dominion Railway
has rendered inadequate service to
Nlt publlC anu ldS bSNh ihAiAA IA =
to the needs of it's patrons.
That the company operates an in
sufficient number of cars. resulting
in overcrowding.
That it has negligently failed to
properly maintain it's schedule.
Transportation of milk and cream
from points of production in Vir-
ginia and Rosslyn has been so irreg-
ular and negligently delayed as to
cause serious loss to shippers.
Freight Negligence.
The company has been negligent
in furnishing freight cars.
Passenger cars are inadequately
lighted.
Toilet facilities in passenger cars
are lacking or very poor in most
cases.
The company maintains an en-
tirely inadequate repair shop.
insufficient notice has been given
the public of changes in schedules
Because of the lack of adequate
service great loss and damage has
been suffered by the public.
1t is further ordered that within
Is days a schedule on the Bluemont
division shall be put into effect
which will allow passengers and
mail to reach Leesburg not later
than 9 a. m.
That within 30 days it shall pro-
vide a train leaving Bluemont for
Leesburg and Washington at a. m.
Care for Schools.
That it shall arrange its schedule
after consub1ng with the commits
sion's engineer, on the Great Falls
The Washington herald., 1921-01-30
Record Philippine Trade.

According to a report issued by
the Philippine. Government Agency,
the total imports into the islands
for 1920 amounted to $l4s,43s,00O as
against s12S,63S,000 for 1919. OF
this amount ssa29osO00,. or 81 per
cent OF the total, came, from the
United States, The total exports
from the islands in 1890, amounted
to $l51,124,000 compared to s113,-
15S.O0O in 1919 Exports to the
United States amounted to s1o5,216,-
900 or 90 per cent of the total. The
most important item in the export
trade was sugar. which totaled
nearly $50.o00,0O0. The next item
was hemp, valued at sSs,oOo.eoo and
.coeonut oil amounting to s23,ooo.0oo
Practically, all of the latter came to
the United States
The Washington herald., 1921-01-30
Would Help Immigrants
To Aid Economic Status

An article in the January, 1921,
number OF the Monthly Labor Re
view of the Burcap of Labor Sta
tistics. u. S. Department of Labor,
suggests that farming communities
can take an important part in solv-
ing pressing economic problems if
they will extend sympathetic and
practical help in a small way to
immigrants. Benefits to the big
cities. the immigrants and to the
local communities are pointed out.
The farm colonies of Italians near
Vineland, n. j., are cited as an in
stance of the wealth added to a
community by immigrants, and of
the way they share tax burdens,
patroni0e business and increase
property values for all. These ral-
ians have had remarkable success.
Figures are given showing the value
of farm land and livestock owned
by them and of the crops raised.
The Washington herald., 1921-01-30
Australian Wool to Poland

Arrangements have been made bv
which Poland is to get something
over $4,000 bales of Australian and
New Zealand wool under a con-
tract signed with the British di-
rector of raw materials. Poland is
to give bonds for f1.15O.OOO as nav
ment to the international Committee
for Relief Credits, which will finance
the affair. The Polish government
has agreed not. to requisition the
manufactured goods and plnas to
have most of the cloth held for ex-
port trade.
The Washington herald., 1921-01-30
VANDERBILT SAYS
GERMANY CANNOT
: MEET WAR DEBT
International Authority
On Economics So De-
clares in Interview. .
ISSUE A VITAL ONE
Capacity of Payment Placed
At 3,OO0,OOO,OOO Marks
Per Annum.
ISSUE A VITAL ONE

NEW YORK, Jan. 2s.-"Germany
will never be able to pay the war
indemnity fixed by the =, allies, &"
Frank A. Vanderlip, international
authority on economies, declared in
an interview tonight.
This statement may be rega rded
as particularly significant in view
of the fact that several noted econ
The Washington herald., 1921-01-30
BANKERS EXPECT
BUSINESS REVIVAL
Labor and Manufacturing
Conditions Improve, Is Re.
port Made 10 Convention.

MEMPHIS. Tenn. Jan. es-Wlt1fr
sixty days, thousands OF industrics
throughout the nation Will reopen
aud soon after business conditions
will return TO something like 1917
conditions. according TO ofncers and
directors OF the Association Of Re-
serve City Bankers. who are hold
ing = national conference here to-
day.
Within a short time business
conditions will greatly improve. "
said George r. Rogers. vice pres
ident OF the Msuufsctv
Traders National BSnk. Br.. - g.
Y, and secretary treasure
association.
Labor conditions are p -E
Automobile manufacture
will start to reopen after
Rogers said.
All Northern bankers are eAPecl-
ing a great revival in trad within
sixty days, said Charles II No-r'.a.
cashier Of the Seaboard NsrrohaI
Bank. New York City.
Financing Of exports is tho T-os'
important thing to ConsIoe- non
said Fred W Ellsworth. vice Q--.-
ident Of the Hibernian Bar and
Trust Company, New Orleans. Eu-
rope offers q great markeA Tor Amer
icsn farms and fsctOres but Il
needs financial help from Us before
il can buy"
The trouble with the South =
that IL is commodity spoo-. sa'7
Oscar Wells. president OF the fITs'
National Bank. Birmingham.
The South must lind q mark
for its cotton before II can rSEa n
full prosperity" Wells said And
II needs to grow something else
besides cotton"
The conference will r1eet again
in Buffalo in early spring.
The Washington herald., 1921-01-30

PHILADELPHIA. Jan. 29-Butter
Dull and unchanged. Quotations
lid-paCked creamery. fancy, high
scoring goods. 491za51lac; extras,
As &c; extra firsts, 4612a47l2c; frsts,
fOa46C: seconds, SOa3Sc; sweet
creamery. choice to fancy, SOFIA
80 23-c; fair to good. 3915a49Ibc:
prints jobbing at 5Sa6Oc for fancy
and 45a57c for fair to choice.
Eggs - Market further decIineS
4'2C. Quotations: Nearby frsts,
oOt=C per dozen: nearby current re-
ceipts. 9i-c; Western extra frsts.
so &c: do. frsts. 59l2C: inferior lots
lower; southern. 5Sa59c; fancy can
died eggs jobbing at 73a74c; fair
to good. 6ja72c.
Nheesc-Firmly held. Quotations:
New York. whole milk. flats. fancy.
held. 2Sa29c; do. fair to good, heIo.
26a27c; do, fancy. fresh. 25a25Lc:
do. common to fair, fresh, 22a24c;
LonEhorns, held. 29a29i2C do, fresh,
2Sd29 }@C; single. Daisies, held 27a
2Sc: do. fresh. 2Ga27c: jobbing sales
Of fancy held goods. 3Oa31c.
Live POultry-Fowls. fancy. asa
Sbc: medium, %3a34c: small and In
ferior. 3Oa52c; white Leghorn fowls,
""a5fc; spring chickens. fancy.
weighing li2a2I- lbs. and over
apiece, 36a3sc: young roosters.
fancy, sOft-meated, 33a35c: stagCy
young rOosters, 26a2Sc; old roostqrs,
2ta25c; turkeys. fancy. 45a52c: do,
ordinary, 35a43c; ducks, white.
Pekin. 43a45c; mixed coIors, 4Oa42c:
do Muscovy, 2Sa3Oc; geese, 2Sa32c:
pigeons, per pair. 5Oa55c
killed, dry-piCked, in boxes, weighing
!sa5 lbs and over apiece, 4Oc:
Weighing lbs, 39c; weighing 81
IDS 3Oa33C; fowls, fresh killed, in
bbls, dry-picked, weighing 4a5 lbs
apiece, dry-packed, 39c; weighing
4 lbs, 31a34c; weighing lbs and
under 3Oa32c;; roasting chickens,
western, dry packed, in boxes,
Weighing 4ha5 lbs and over apiece,
3Sa4Oc; weighing lbs, 37a38c;
roasting chickens, Western, dry
packed, in bbls, weighing 4a5 lbs
and over apiece, 3Oa4Oc; fryers,
Western, dry-packed, weighing ga
Z lbs apiece. 33a35c: broiIers,
western, dry picked, Weighing IL a
lbs apiece. 43a45c; broilers, nearby,
weighing ~ az lbs apiece, 46a4Sc:
roasting chickens. nearby, weighing
4a5 lbs and over apiece, 39a4Oc:
tryers' nearby, weighing Sa31s lbs
apiece, 34a36c; turkeys, sprinS
fancy, Virginia and West virginia,
6la62c; do, Western, dry-packed.
GOc; do. old toms, 55a56c: do, fair TO
good 45a50c; old roosters, dry-picL- :
ed, 2Sc; ducks, Western. fancy, ara
4Oc; geese. Western, 3Oa32c; guineas,
per pair. spring, $1a1.25: old, 75aS5c,
The Washington herald., 1921-01-30

Omists recently have stated the
world industrial situation hinges
largely on the German reparations
question. In an interview with the
United Press, Bernard NJ. Baruch
predicted that IL an amount were
fixed within Germanys capacity to
pay" American industries would re-
spond instantly as the result of the
reopening of world markets and
unemployment would be quickly
wiped out.
Vanderlip said he believed the
Germans would be able to neEo-
tiate the annuities up to 3. 900. 600. eco
marks year, but that figure would
mark their capacity
IF the allies should insist on Ger
many attempting to carry out the
arrangement made in Paris today.
the German children in the future
would not thank Herbert Hoover for
keeping them from starving to
death now" he said.
There seems to be no question
that 221.O0O,O 900 marks is be-
yond Germany's capacity to paw
Nanderlip continued. They might
be able to meet their obligations up
to ",oOO.O0o.0o0 marks a year. but il
is hardly possible they could nav
the 5000, 100000 marks annuity pro
vlded for in the final period of thir-
ty-one years, and l doubt II they
could avoid defaulting in the 1000, :
600, 900 marks period.
Wealth Greatly Deprecated.
The total wealth of Germany be-
fore the war. according to the las,
available figures was around $50
| O0O.000,0OO, which is nominalIy
5000 100000 marks Since then
not only has that country's indus
trial life been totally disorganizcd
but 1t has lost valuable territories
Entirely aside from Germany
| ability to pay. however. the effect
of prohibitive indemnity upon tho
allies themselves. and their asso-
ciates. should be considered 1t
would be certain to disorganize
the whole industrial life of Europc
and seriously affect the United
States and other countries. Ger
many naturally, will have to pay
in goods, and that means her for
mcr enemies will be forced int
competition with low priced manu-
! facturcd articles. Germany. would
| be so poor herself that she could
not be considered as. a market for
the goods of other countries.
Another angle for the allies
themselves to consider~'is that in
making up their budgets they will
count upon the German reparations
EsA
many default at any time, their f.
nancial plans would be seriously
disarranged."
Vanderlip predicts that Germany
would refuse to accept the agree
ment at the, meeting scheduled tc
be held in London on February %
In that event. he said, the allies
probably would have to undertake
| the task of revising their figures
to a level compatible with Ger
msny's ability to pay. -