davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
American Wooden
To Name Reduced
Prices This Week
New Schedule, Based onLow-
er Wages, To Be Used OH
Stock Goods to Determine
Policy for Opening Lines

Lower prices will be named on the
surplus stocks of woelens and worsteds
held by the American Wooden Com
pany some time this week, it was
learned yesterday upon good authority.
The new prices are expected to be
made public on Wednesday. This sets
at rest ,rumors that the company was
planning to hold an auction similar to
the sale of overcoatings staged late
last year.
IT is believed the company is figur-
ing its new prices on the surplus
goods at present replacement levels =
or )ower-fgured on to-day's raw wool
and labor markets. In case the sale is
successful, it probably will establish
prices to be asked when the companv's
fall, 1921, line is opened to the trade.
in general, it is thought that prices
will be about 80 per cent under the
opening prices asked last September.
The new prices, it is understood, will
APPLY to all untitled orders on the
books
The overcoating sale demonstrated
the fact that buyers were willing to
operate if prices were in their favor.
During the last few weeks the cloth
market has shown more activity and
moro strength.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Big Drop in Imports
OF Hides and Skins

That the leather trade has expert
enced a period OF stagnation can be
readily discernible in statistics recent
ly compiled which show tremendous
declines in the importation of articles
connected with the industry. Imports
of calfskins during November amount
ed to 166,529 pieces, valued at $685.
5T7, compared with SlS,354 pieces,
valued at $4,533, $50 for November IN
1919. For the eleven months ending
with November S3,76l,912 pounds o.
calfskins were imported, against 9s,-
53S,301 pounds for the corresponding
period of the preceding year.
Imports of cattle hides declined from
LISA, 40 pieces, valued at $l5,olu,loS'
in November of 1919, to 229,30S pieces.
valued at s2,107,335, in November o.
this year. For the eleven months OF
1910 the imports dropped from lU,Oc.-
ALB pieces, valued at $1l4,52l.Z4g, 70
6,7S3,109 pieces, valued at SSH 80.
during the corresponding period OF
1920. Imports Of goatskins during
November amounted to l,54S,9s6 pieces
valued at S1,763,7S1, compared VITA
4,62S,313 pieces, valued at S7'o5s,llzo,
during November of the preceding
year. The eleven months imports To-
tailed 46,i42,963 pieces, valued at sS',-
973.333. against 71,S6S,S64 pieces, va.
ued at $S3,9s5, 1907, imported IN the
same period of 1913
The total imports of hides and SKINS
of all kinds during November amounsea
to 20,064'S20 pounds, valued at se'os5,-
042, compared with 6S,726,7SS POUNDS:
valued at sSS666, 915 for November Of
the preceding wear
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
More Work, Less Talk
Needed, Saws Worner.

YOUNGSTOWN, Ohio, Jan. 15.-"I
believe business affairs will grow
stronger and better from now on" said
Jonathan Warner, president Of the
Trumbull Steel Company, to-day. IF
the manufacturer, workman, distributor
and retailer do their duty, work more
and talk less, then the prosperity we
all hope for will come sooner. We
have been surfeited with theories and
panaceas for all our social and indus
trial ills, but the gospel of work, com
bined with thrift and honesty. will do
more to set the world Alright than all
else
"lhe duty of every one of US is to
get down to earth again, stop extrava-
gances, produce at the lowest possible
cost and sell accordingly. We have
passed through labor troubles and
many others, the natural result of the
great rush. Now the time has come
when the great buying power of the
nation is on strike for lower prices.
and this condition will end only when
we produce at a lower cost and sell ac-
cordingly"
The Trumbull Steel Company has
taken the lead among the independents
in the Mahoning Valley in its retrench-
ment policy, laying off hundreds of men
and abollshing many salaried positions
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

center and issues from that center
loans or temporary ALLEGATIONS of
power IN accordance with the facts.
Fourth. 1T was pointed out by Ma
poleon at the very dawn of the era of
modern business that credit-capital is
new kind of property 1t is power
property. 1t does not originate in the
legal but in the business system. 1t
reduces to subordinate role all other
kinds of property. The sanctions of
legal property can be strengthened by
a sound administration of credit. capi-
tai. Ihey have everywhere been shak-
en- and undermined by a general NAL
administration of it. Credit-capital is
a Recommendation of the current produc
tive power Of the community. This
power is pooled in trust at the credit
senter, to be piped out, in due proper
ton, to the best producers and the
most essential services.
Having these fundamentals in mind.
we are in possession of the KEY to the
foreign-credits problem. There is no
country in Europe, however desperate
It's present situation, that cannot
achieve a sound credit base and sta
n y prosperity by the application of
the intrinsic laws of business.
II 1t is LETT to Americans to furnish the
initiative of such regeneration-in
ASIA, Africa and South America as we'll
as IN Europe-our rewards in wealth
and power will surpass the fables of
tactolus and Golconda. The mobiliz-
ing of the latent technic skills of Gull
tured and historic peoples will release
unimaginable volumes of value-a tril-
billions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Good Business ahead This Year
If Evils Are Checked, Says Bond

good healthy business is in store for manufacturers whole
saers and retailers goods 1921 they
to the hectic speculation and
the beginning the the middle year.
OF s. M Bond president the Company Cleveland
of the largest wholesale country He
his views of the current situation while
York week.
1.-The purchasing the
generally believed especially
interests rural communities stocks
or staple goods depleted their
chandse successful sales in our es+ah
shnent in Cleveland in the latter
which retailers bought sufficient
point where rep!enshmenl
oweve the retailers buying and
will continue to for months believe
shape their business accordingly
return to ordering six eight months
heahul Manufacturers business
risk and make
need them The policy of making orders
foolish If manufacturers gghams run their mills at
al their product in the first days OF year,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

veloped to which each Office binds it,
self to adhere. The system tends to
restrain and moderate the competition
Tor business which inevitably and to
some extent properly exists among the
companies, and its value to them is
manifest But it is also of service to
the insuring public.
at is an unquestionable truth
though one often lost sight of, that
all losses by fire ultimately must be
borne by the public.
Seek to Lessen Danger
"On the supposition that the Offices
are correct in their estimate of risk;
the effect, and indeed the intention, of
this rule is not so much to put money
into their own Golfers as to lessen the
DANGER and to save themselves in the
erty ultimately, from the consequences
Of prevcntable fires"
Although business is bound to suffer
unless an agreement is reached to per
nit continuance of policy writing in
the state, there is strong feeling that
commercial interests will bring suifi-
cient pressure to bear to prevent any
catastrophe.
In pcturing the dangers involved
The Hattiesburg American says:
Property owners will have to take the
chance of fire loss. Banks will not be
protected in any loans made on prop
critics, cotton in storage, etc. Whole
sale dealers will demand cash on de-
livery for large stocks sent to stores in
Mississippi without fire insurance.
Mississippi will be avoided by invest
ors who see no protection for their
investments"
Another danger is that "wild cat'
companies worse than none will
spring up and attempt to fill the gap.
probably making conditions actually
worse.
Business Men Confident
On the other hand, chambers of com
merce arc optimistic. f. Herr, secre-
tary of the Greenwood chamber, writ
ing to The Tribune, says:
eve do not feel that the situation is
as serious or is likely to become as
serious as has been generally imagined
But should the worst come to pass. in
panies will be promptly organized that
can and will take care of business in
terests, and although nothing specific
has been done in this direction, plans
have been discussed for meeting the
emergency.
Although the situation is extremely
it presents no features i'm
possible of solution. In fact, business
is proceeding about as usual"
B. F. Martin, secretary of the Natchez
chamber writes that the situation has
not vet caused any serious financial
d tficulties, "hcwever grave apprehen-
sion is felt in business circles"
1T is my understanding" he con-
tlnues, that no cancellations have
as yet been made, but that a large
number of the companies are declining
to take on new business or to renew old
business. My rstanding is that re-
newals and new business are being
taken over by local agents through
other than those against
which suit has been brought"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Raw Wool Tone Easier
Two Conflicting Influences Over
hang the Market

The activity in raw wool which set
IN about the first of the year has SIM
mered down to a great extent. and
some buyers are expressing the opin-
ion that present prices will not hold.
The trade is torn between two conflict
ing inf1uences-one the possibility Of
a high tariff on raw wool entering shc
countery, which would boost prices.
and the other the even greater posi-
bility that the great amount of Aus
tralian wool held by the British gov
eminent will be made available to the
trade In tn enear future.
1T was reported yesterday that The
British government has sanctioned the
formation of the British Australian
Wool Realization Association, the pro-
motors of which will be the Aus
tralian wool growers, and which will
have capitalization of s25 900, 900,
about half the estimated value of the
surplus wool. 1t is understood this
amount will be advanced to the Aus
tralian government. The association
plans to arrange for regular sales as
soon as market conditions permit.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Transvaal Mines Paid
$l6.833,344 in Dividends

The total dividends of the gold mines
o. the Transvaal amounted to $685.
344 at the close of September, according
TO the Union Department of Mines and
Industries. The total working profits
Of these mines were s6,343,697, &C COM
pared with $6,114,855 in August and
SIS, $40 in January of last year. The
working profit ton milled was equiv
alent to 1929 in September, 1922 in
August and S2.49 in January. Ore
nlilled in the Transvaal during Septem-
Der amounted to $1,9S0,296.
Diamonds produced in the Union of
South Africa in September totaled POLL
$50 carats, valued at 1868 $50, as COM
pared with 230,967 carats, valued at
Sf,6S9,22S, in August, and 234,697
carats, valued at $6,569,3s1, in January
The total value of all the minerals pro-
duced in September amounted to $l6,-
455,530, as compared with $16,827 ,459 in
August and S16,475,710 in January. OF
this total the Transvaal Province con-
tributed $15,28l ,63l.
The total value of the minerals pro-
duced in southern Rhodesia in Septem-
Der amounted to $1,684,0S1, as compared
with $1,664,2S2 in August The min
eral production of northern Rhodesia
was valued ct S107,715 in September,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Politics Al.stria's Ruin

Consider, for example, the case of
Austria Austria has been paralyzed by
the virus of politics-her own tradi-
tlonary dynastic politics and the OBJ
scurent anti-economic politician of
Versailles. The map makers have ampu-
tated the limbs of her former life
sustaining system. Austria is hopeless
from the point of view of the finance
that II, we inherited from the Fuggers of
flanders and the money changers of
Bagdad. But Austria is full Of light
for financiers who can think in terms
of technic power.
There is movement afoot in Wall
!street-though the momentum of it
is not yet great-to establish here in
New York the headquarters of uni
yersal technic trust, to organize and
finance strong combinations of pro-
ductive ability in various parts of the
world. 1t purposes to apply to a whole
complex OF staple industries and neces-
sary services in given district the
have been worked out in particular
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

At the annual meeting of the Motor
and Accessor Manufacturers Associ-
alton held in New York on January 10
+. c. Glover, vice president and general
manager of the Timken Detroit Axle
Company, and II. L. Horning, secretary
and general manager of the Waukesha
Motor Company of Wisconsin, were
elected to the board of directors, sue
ceeding c. Girl and E. W. Beach.
At meeting of the new board of
directors <. H. Broadwell, vice-presi-
dent and general manager of the Fisk
Rubber Company, was elected presi-
dent of the association. succeeding
CharlNs Z. Thompson, who still retains
his place on the board of directors.
W. Q. Rutherford, vice-president of the
b. F. Goodrich Rubber Company. is
first vice-president; A. w. Copland
president of the Detroit Gear and Ma,
chine Company, is second vice presi-
president.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Chinese Raw Silk Higher
Advances in Canton Market Are
Laid TO EXCHANGE

Cables from Canton, China, yester-
day reported continued rise in raw
silk prices in that market, with a
broadening demand from American in
forests. No change was made in local
quotations, however, as Canton prices
are based on Mexican dollars, and the
fall in silver recently has about offset
the advance in silk prices
Japanese prices are still firm, al
though some users of raw silk in this
country are still dubious of the ability
Of the Imperial syndicate in Japan to
keep prices pegged at present figures.
Cabled reports of the ability of buy
ers to obtain raw silk in the Yoko-
hama market at less than syndicate
prices are conflicting. Buyers here
assert that it is possible to buy silks
in this market at less than syndicate
prices, giving the impression that i'm
porters and dealers here are not con-
WINGED that prices have been strongly
pegged.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Value of 1920 Farm
Crops Is Estimated
AT $l0,465, Ol5,0OO
Texas Maintains Lead, With
Iowa Second, While New
York Jumps From Four
teenth to Fifth Place

WASHINGTON, Jan. 15.-All farm
crops OF the country were valued at
S10,465, 015, 900 last year, based on De-
cember l prices paid to producers, the
Department Of Agriculture has esti-
mated. That compares with Sl6,O35,-
900 in 1919 and $1O,156,426.O 900 the
fve-year average, 1914 to 1918, inclu
sive.
Texas maintained it's place as pro-
Queer of crops Of greatest value, with
total of 1927, 10000 which was half
e billion dollars less than in 1919.
Iowa retained second rank with $780,
$4,000 Illinois, only slightly behind
Iowa, continued its place as third with
S459, 179,O 900.
California jumped from tenth into
fourth place, held in 1919 by North
went into fifth place from fourteenth
rank with $456,507, 900. North Caro-
lima dropped into sixth place with
s412,374, 900.
Pennsylvania went forward into
seventh place from sixteenth rank the
previous year with 1897 SIT 900. Kansas
dropped from fifth rank into eighth
place with $378,436, 900. Ohio dropped
from eighth rank into ninth place with
$369,S69, 900. Wisconsin moved into
tenth place from eighteenth rank with
$360,270, 900.
Missouri dropped from ninth rank
into eleventh place with $343,O12, 900
Georgia dropped from sixth rank to
twelfth place with 1928, 100000.
The other states. according to rank
and the value of their farm crops for
1920 follow.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Value Of Credit Capital

Third, the government of the polit-
ical or protective organization rests
upon mental izationz-common
submission to rigid and abstract rules
enforced by the power of the police
On the other hand, the government of
the productive organization rests upon
mental liberty or personal initiative,
mutualized by credit on basis of
current fact. Whether in the dispatch
ing Of trains and the command of great
ships or in the control of the life
sustaining processes of an economic
district. business government is an
economy OF mutual faith sustained by
aceQrate txnth-speaking Il ASSEMBLIES
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
immigration Restricted
To Labor Needs Is Ureed
Reverse Of Contract Law Might Be Bes,
but Is Probably Impracticable,
Says Prof. Carver

this is probably out Of fro Co.
mere are too many demagoeress ' W:
also too many of that Kind ~ ana
leader who is more DESTROYS Of saeof
his position than of benehtiap la hung
permit such law to 90 througt '@'e'' 70
The literacy test, while obi.
rather ineffective, was undopbtns,1oasly
ter than no test at all. Il never ~ss
opposed by any one who didn't bs,. was
ak to grind. There was neva s'e "a
sound argument against il of any
tive nature. The only objection p ~
was that it did not 20 far enough y
In any constructive immigrants -,
icy, we must face honestly and fran III.
the question of race. No two @1 "a.
tlnct races ever did live together in ~.
same territory without trouble Ama,s sns
nation or race war either. is the So
alternatives. Territorial Separates n"ia
the only solution. This means .ha -
people with whom our people will ' 10.
amalgamate must be kept out. Il mn Nv.
be done, of course, in a dignife5 a ,'s
proper way through diplomacy and - ~.
by mob action; but it must ba ao ,s'
and the sooner We realize it. the lass
trouble we shall have. Both s;ds.
must realize that the only method ~
preserving peace is by observing linz
fences. War is as inevitable as snys
thing can possibly be if non-ass;m;
liable races try to live together in lars.
mum berS IN the same territory
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

Yet if the question Of justice in cs-
tablishing uniform premiums on risks
can be definitely settled once for all
time, the Robertson suit will have
served its purpose well--and the in
surance companies are confident that
the final decision will be to their adj
vantage. Moreover, if the contest re-
suits in repeal of the Objectionable
features of the Mississippi law, the
insurance companies and the policy
holders will feel repaid for the an
noyance the present situation is caus-
ing.
The law on which the Robertson suit
is based has served to provoke
previous attempts against insurance
companies, but in these cases the con-
troversles were compromised
Other States Failed
Other states from time to time have
sought unsuccessfully to prevent what
was termed stif1ed competition by re-,
course to the courts.
The Mississippi law is plain. 1t de-
fines criminal conspiracy" provides
penalties and says in regard to fire
insurance companies:
ANY corporation organized under
the laws of this state or any other
state or country, who shall enter
any agreement to regulate or fix
IN this state the price or premium
to be paid for insuring property against
loss or damage by fire, lightning or
tornado. or to maintain said price when
so regulated shall be deemed and
adjudged guilty of a conspiracy to de-
fraud and subject to the penalties Az
of 1906"
The penalty provided is fine of
$1,000 a day, and Mr.. Robertson asks
that this be enforced from the time
the law went into effect 1t is figured
that the total would be approximately
$1,000 100000. And since the state law
provides that the officer may deduct
~ per cent of all he RECEIVERS in a sue
cessful suit, Mr.. Robertson's rcmuncra-
tion-should he collect the whole
would be approximately $780,
goo, 600; That he would get this much
Mr.. Robertson probably never believed.
but even judgment of $4,000 against
each company would net him tidy
sum. And the law would remain on
the books for some successor to use.
ETAOl SHR DLCMFW YPVBGKQ j
Basis for Defense
The companies defense is based on
the contention that they have not vio
lated the law, for they have purchased
information on risks from a Misss-
sippi corporation. the Mississippi In
spection and Advisory Rating Bureau,
which suggests rates based on scien-
ttic examination. The companies have
commonly followed these suggestions,
for they say it would he impossible
to examine each piece of property in
sured because of prohibitive expenses.
The standpoint of the insurance com
panies is explained in the following
excerpt from the Encyclopedia Britain
MICA:
"Consultation about rates and a COM
mon understanding necessarily involve
reciprocal obligation to charge not
less than the rates thus agreed on; in
other words, a tariff of rates is de-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Linen Fabrics May Drop
Abandonment of the Minimum
Price Agreement Factor

Lower prices for linen fabrics,
which have been showing some de-
clines already. are presaged in the
abandonment of the minimum price
agreement on linen yarns, entered into
by Belgian, French and Irish spinners
last October and intended to hold until
March 81.
The agreement terminated yester-
day, according to reports and fall
in the price of yarns is anticipated
Immediately. Passing on the reduc-
tions will be a slow process it is be-
lieved, since the production of linens
has been curtailed greatly because of
lack of demand. Some importers are
planning to make lower prices on cur
rent lists here, but there seems to be
no we'll defined plan among them to
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Should Limit Number

Those whom we do admit on N.
ground of their ability to amalgamat.
should also be strictly limited in num.
Der. To begin with, they could bs
required, upon entrance to the conn.
try, to take an oath of temporary al.
legiance; that is, they should be r..
quired to agree not to abuse our hos.
pitality by conspiring to overthrow our
government by violence. It should ha
impressed upon them that they are not
comforting favor upon US by coming.
but that we are comforting favor
upon them by permitting them to come,
Finally, no one should be allowed to
come unless he can show proficiency
in some kind of work for which there
is a known demand, at wages Of IS q
day or more.
If IS day is not enough, higher
figure should be substituted. Whatever
figure is agreed upon as the minimum
here will virtually become the mini
mum wage for the country. for the
simple reason that the supply of labor
viii be Kept within such limits as
will make that the market rate.
By the expansion Of our Industries,
increasing the demand for labor and
by such restriction of our labor sup
ply as to guarantee high and increas-
ingly high wages to our laborers, we
would be in position to demand good
work The public would soon begin
to ask whether collective bargaining,
strikes and other well known devices
have not ceased to be means of de-
tense and become means of extertion.
If our laborers persisted in abusing
the power which our policy gave them
we still have power to remove re-
strictions upon immigration; that is.
if our own laborers will not do good
work for the good wages which re-
striction would bring them, we can
remove the restriction and hire others
who will do good worl:.