davidaulloa/AmericanStories huggingface dataset:
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-06-23
STATE OF MAINE
KENNEBEC, IS. SUPREME judi.
CIAL COURT IN EQUITY.

CENTRAL SECURITIES CoRPO-
RATION VS.. ,KENNEBEC GAS AND
FUEL COMPANY.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-06-23
NEUTRALITY-SUSPICIOUS. llllH
Daily Change of Program
Today at 2.15-6.45-s.3o


was only a figure Of speech
to Madse until tho collapse
Of her show left her stranded
on q farm.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-06-23
STATE OF MAINE

H. NANCY,
Counsel for Petitioner,
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-06-23

Secretary James F. Bagley Of the
State Board Of Charities and Correc-
lions announces that licenses to main
tain homes for children, to maintain
maternity hospitals and for child plac-
ing agencies have been issued by the
board as follows:
The Washington herald., 1921-04-24
EXCHANGE VALUES.
HOLDS UP MEASURE.
Anti-Dumping Section Also
Aids in Delay of Tariff
Bill Proceedings.

Diniculties in connection with the
valuation and the ani-dumping
sections Of the emergency tariff
bill have further delayed action on
that measure by the Senate Finance
Committee.
Senator Penrose, chairman Of the
committee, had expected the bill
would be reported out Monday. Now
he finds the committee will be COM
PEELED to go into executive session
for several days" to consider the
changes in the sections over which
trouble has arisen.
In. addition, Senator Knox, Of
Pennsylvania, has prepared an
amendment which he wishes incor-
porated in the bill, which would
protect American dye manufacturers
against German importations. Knox,
who Is author of the resolution to
declare peace with Germany. fears
that when his resolution is enacted
Germans may begin wholesale i'm
portations of dyes, pending enact
ment Of a permanent tariff.
The committee will hear Knox
Monday. 1t had not been intended
that the emergency bill should be
amended in any way.
The Washington herald., 1921-04-24
WISCONSIN ROADS
MAKE BAD SHOWING
No Road in State Makes Op.
Grating Expenses, Tax
Commission Reports.

MADISON. Wis. April 2L-No
railroad doing business in Wis
consin has made operating ex-
penses this year. according TO hg-
ures made public today by the
State tax commission.
Losses incurred in operation total
millions. the tax commission found.
The Chicago and Northwestern.
earning normally S2O.O0O.0 900 annu-
ally. has lost $4,000 this year
The Chicago, Milwaukee and St
Paul. earning normally $4,000. 900.
has sustained a loss Of Ss.4S6.Ooe.
The Burlington, Great Northern and
500 lines have sustained smaller
loss. the tax commissions statement
said
Despite the losses the railroads
must pay more taxes than Iast year
While the total valuation has been
decreased approximately $1,000, 900.
the tax rate has increased. The to-
tai taxes charged to the thirty-eight
different companies is s7,l5s.s57.
Last year the amount charged was
s6.S37.O56. The total valuation
found this year was 1857. 600.
and last year s3eo.73l. 900.
The Washington herald., 1921-04-24
UNSETTLED MART:
GAINS SLIGHTLY
Small Advances Enjoyed on
May Buying Credited
To Northwest.

CHICAGO. April 23.-The wheat
market was unsettled. advancing
slightly early on buying Of May
credited to the Northwest. only to
decline sharply on reports that a
discussion Of the emergency tariff
bill had been postponed and that
a crisis had occurred in the Ger
man cabinet. On the break, how
ever, there was a good class Of
buying, and sentiment generally
seemed to be rather friendly to the
buying side, the tightness in the
cash wheat situation being a factor.
At the top point today May was
up about IL cents from the inside
figures of last week, while July
was up over 6 cents Little change
was shown in the May-July spread
early, although there was some
selling Of the latter on the excel
lent crop prospects. The Kansas
wheat crop. on the basis Of q par
yield of eighteen bushels per acre.
is estimated at 14s,ooo.o00 bushels.
or 5000. 900 bushels more than har-
vested last year. while the govern
ment estimate on the acreage was
around 100000 in excess Of the
States report.
Export demand was not active,
but there was no pressure of cash
grain, as recent rains have caused
country roads to break up. Winni-
peg cash wheat premiums were
about unchanged early. The corn
market showed strong undertone,
and while slightly easier at one
time, advanced quickly later and
averaged higher, with a further de-
mand for cash grain from exporters.
Above 81 cents for May there was
fair selling by commission houses.
but on all the breaks there was
persistent buying. Sentiment Is
rather mixed, with many of the
local element inclined to the buying
side. Oats followed other grains,
with trade mainly of q local char
acter. Crop reports were generally
very, favorable.
The Washington herald., 1921-04-24
Claims Kansas Roads
Lose Millions Yearlu

Railroads In Kansas are Iestur
S3,24s. 900 q year because Of the
refusal of the Kansas Utilftfes
Commission to approve freight
and passenger rate Increases au.
therized by the Interstate Com
merce Commission, J. L. Coleman,
representing the roads, told the
1. c. c. yesterday at q hearing,
Chairman c. NJ. Reed, Of the
Kansas Utilities Commissfou.
argued against approval Of tbe
Interstate Commerce Cemmis.,eu
rates On the ground that In many
eases the State comnission had
Put into effect rates that were
higher than those Of the Federal
eommission. .
The Interstate Commerce Corn
mission rates increased pss.
senEer fares 20 per cent and
freight rates 35 per cent. The
Kansas commission refused to
approve the passenger fare m
crease inside the State on the
ground that State laws prohibit
II. but the eommissien aid an
prove o 10 per cent Increase IN
freight rates within the State.
The hearing arose from the
conflict Of authority between the
two rate-makinE bsdies On intra-
state traAc.
The Washington herald., 1921-04-24
Egyptian Cotton.

Good Egyptian cotton sold around
81 per pound during the cotton
planting season in 1920. In 1880
the total cotton acreage amounted
to 1.s7s,32s acres, the largest ever
planted in Egypt. Early in the fall
of 1920. however. the price of cotton
fell below the cost of production,
and during February. 1921. the
Egyptian farmer sold his cotton as
low as 13h cents per pound. Ameri-
can money, says the Market Re-
porter. The situation was compli-
Gated by the fact that the Egyptian
cotton merchants had purchased
vast quantities of foreign. manufac-
tured goods for future delivery, in
tending to pay for them from the
proceeds Of the high-priced cotton.
Cotton ordinarily represents more
than s per cent of the exports of
Egypt. TO which must be added cot
ton seed. cotton-seed cake and oil
The cotton exports Of Egypt during
1913 produced a favorable trade ball
ance for that country, amounting
to s14o.ooo.oo0. The cheapness of
cotton and the falling OF in ex-
ports during 1890 resulted in an un-
ft vorable balance Of trade. amount
ing to $100,eo0.0oo The docks and
warehouses of Egypt are crowded
with imported goods which were
purchased at high prices and can
not be absorbed
The Washington herald., 1921-04-24

Emphasis on the size and scope OF
the textile industry in CEecho-
Slovskis is made by Assistant Trade
Commissioner Donald L. Breed in q
report from Prague. within the
borders of the new republic are over
SIS per cent os the textile industry
OF the former Austro-Hungsrisn
empire.
OF the 4.s4l.OOO cotton spindles Of
former AustrisSIungsry. 3.5lS.io4
are now in Czecho- -Slovsk territory.
There are also about 10000 machine
looms, representing 30 per cent of
the power looms Of the late empire,
as well as between $1,000 and 10000
hand looms. OF the cotton cloth
finishing plants, so per cent are now
Czecho-Slovak. and l7o out of the
go cloth printing machines. Accord
ing to the report of the Interna-
tionsl Cotton Federation last year,
Czecho-Slovskis stands eighth in
the cotton spinning countries of TIE
Iorld-
The Washington herald., 1921-04-24
LAUCK BEFORE
RAILROAD BOARD
Reduction in Living no Reason
Why Road Wages Be
Cut, He Says.

CHICAGO, April 22.-Rehuction in
the cost of living is no reason why
wages Of rail workers should be
slashed. w. Jett Lauck. economist
for rail employees, said today in an
exhibit presented to U. S. Railroad
Labor Board.
Lauck took the position that gen.
eral reductions would lower the cost
OF operation of the railroads be-
cause coal, steel and other mate
rials would be cheaper.
Since the materials are bought
wholesale. railroads will feel the
price reductions sooner than work
ers because retail prices always fall
long after wholesale quotations,
Lauck stated.
Lauck said that falling prices
would save the railroads scot, ,ooo, 900
in coal bills and 500, 100000 in
steel bills the coming year.
The Washington herald., 1921-04-24
Our Trade With Germany.

Prior to the war. says a statement
by the National City Bank Of New
York, oor biggest exports TO Ger
many were s352.0oo. .oOo' Gin 1879.
They dropped to $4,000 600 in 1915,
s2,0oO,ooo in 1916, and nothing In
1917 or 1918. They will considerably
exceed $500, 100000 in the fiscal year
1921, as against the prewar high
record. In the eight months for
which we have now Official figures,
the record shows exports to Ger
many of s2s2,ooo. 900. and should the
four remaining months of the fiscal
year average as much n that of
February, sto.oo0.00o the total ex-
ports to Germany in the fiscal year
1921 would be s440.0O0. 900. as against
the high record Of s352.000. 900 in
1913. Food and manufacturing ma
terials are our principal exports to
Germany. and fertilizers. coal tar
colors, chemicals, laces. kid gloves
and china making up most Of, the
ss5,ooo.ooo we bought from that
country In 1sso.
The Washington herald., 1921-04-24
PRODUCERSCEASE
SELLING WHEAT.
This Important Development
Lessons Volume of Receipts
At Terminal Markets.

CHICAGO. April 23.-The import
ant development Of the week, say
Thomson & McKinnon in their
weekly report, was the cessation Of
practically all selling OF wheat by
the producing section This, Of
course. has lessened the volume of
receipts at terminal markets and
necessitated a higher relative basis
Of bids by both exporters and mil
lers- Belgium. Germany and Italy
have been constant buyers. It now
develops that Japan has taken U. S.
wheat, solely because Of its relative
cheapness. The enormous drain upon
cur reserves made by the record
volume of exports since the frst Of
July is beginning to be felt in the
market.
Three periods Of freezing temper
ature have delayed the growth of
wheat to the extent that the new
crop will not be available for an
other ninety days. Trade journals
are beginning to mention the less
favorable appearance of the new
crop, suggesting that the low tenn
peratures have caused damage not
heretofore apparent. The State re-
port of Kansas wheat indicating a
crop as large, or larger. than last
year, is of Importance for the rea-
son that the present condition is
lower than tine government report
Of April !, which fact is contrary
to popular ideas that the crop was
making favorable progress every
where.
Seeding Of spring wheat has been
delayed, and warmer weather is
necessary to benefit seed already IN
the ground. 1t is Saimed that In
dia's crop is reduced to the point
where exports will not be possible
and imports may be necessary. In
times gone by India has contributed
35.OO0.OO0 bushels to the worlds
needs, Russia l00. .0o0. .0OU, and the
Balkan countries 100000. with
Russia and India out Of Il, and the
Balkan states uncertain, IL would
seem that the condition of new
crops Of North America is OF the
greatest Importance.
The Washington herald., 1921-04-24
HARDING ASSURES
FARMERS UNION
Pres. Barrett Expects Prompt
Action to Secure Lower
Farm Products Rates.

Assurance that President Hard
ing will take prompt steps to Sc
cure lower freight rates on farm
products has been given the three
hundred farmers who have been at
tending q convention of the Ma
tional Farmers Union in Washing
ton during the past week, accord
Ing to C. 8. Barrett, president OF
the union.
Mr.. Barrett declared that Congress
had been completely won over to
the necessity of reducing freight
rates as a means Of saving the ag-
riculture of the country. and will
cooperate with the President fully
to this end
We have asked the government
to act quickly and give US such
temporary relief as will justify the
country in entertaining the hope
that permanent readjustment
will speedily follow said Mr. Bar
rett, yesterday.
Il have hopes that the President
WIZ soon call conference Of
spokesmen for all great interests,
Including farmers and labor. In
such q conference q basis Of settle
uaent for the questions that are
found.
m Is useless to tell tn. f.rm.r
that he II the backbone Of the ma
tfons while an assistant govern
ment is bending that backbone al
nest to the breaking point"
The Washington herald., 1921-04-24
TIMELY WALL STREET TOPICS

NEW YORK. April as.-PennsyI-
vania Railroad directors meet on
Wednesday to act on the semi
annual dividend. For a long time
the speculative element on Wall
Street has been disposed to regard
q reduction in the dividend rate as
certain. but in the past few days
this condition has changed. and
there are now many usually fully
informed who look for a mainte-
nance of the dividend rate. but that
the dividend while at the full rate
will be paid in scrip. Uncertainty
about the dividend position of the
stock. Its sales on some days, includ-
when large holdings were thrown
on the market for a long period,
forcing the price down to 32& on
April IL, the lowest price touched
since it had been traded in on the
New York Stock Exchange. The
high record Of the stock Is IS. made
In 1902. In the past few months
one prominent brokerage drm has
sold about 100000 shares of the
stock, its sales on some days includ-
ing yesterday, being 5000 and 10000
shares on single orders. and some
Of those concerned in the trading
attributed this selling to liquida-
ton by institutions. including in
surance corporations. Recently
there has been persistent accumula-
tion Of the stock and the rally since
April IL has been an influence in
creating hope that the dividend rate
Of per cent will be maintained.
indications are plentiful in the
stock market trading in the past
week that a substantial change IN
the security trading conditions has
occurred and that the market Is no
longer at the mercy Of interests
that had been for so long a time
persistently committed to the shorr
side. An important factor in caus-
ing improvement in the trading sit
uation was the temperance after
long absence of fractional-lot buy
ing, reaching up to a large aggre-
gate. Some houses on different
days of the week bought as much
as $500. shares each on fractional
lot orders, and II was stated oy
some of those concerned In this
trading that a large part Of these
purchases were in five share lots
and according to their knowledge
Of the buyers the business was or
a purely investment character. An
The Washington herald., 1921-04-24
BETTER TONE IN
COTTON MARKET
Stronger and Higher Level
Follows Dull Opening; Fa-
yorable Foreign News.

NEW YORK, April 2s.-The mar
ket developed q better tone after
dull opening In following the
stronger and higher stock market
and the more favorable views on the
foreign situation. In the absence
Of any fresh selling pressure from
the South or other sources, q cover
ing movement among the shorts sent
prices up sharply after the end OF
the FIRST hour. One interest was
credited with covering a line OF
$4,000 bales short May contracts
This with some new buying by To-
cal trade commission houses aud
Wall Street interests carried prices
up about IS points for May from
yesterdays closing and 20 to 2z
points for the rest of the list under
the lead of July. May sold at l2h
cents on this rise vk!le July went to
near the basis Of 1874 cents as
against 1894 for October OF the next
crop and about 1880 for December.
Trading was fairly active on the
rise as the advance brought out con-
siderable fresh profit-tak:ng by
trade interests over the weekend.
The only new factors strength
ening the market were the senti-
mental influence of the improved
proposals for q settlement Of the
German indemnity question in the
near future and also the probabil-
ity the British coal miners strike
will be adjusted next week. The
weather throughout the cotton belt
has turned clear and a little warmer
after the heavy general rains of the
last several days, the storm hav-
ing passed of the Atlantic States
over night after q rainfall there
and in the East Gulf States the past
"a hours ranging from 1 to TX
inches in some places and an average
of about q to I inch In others.
The Washington herald., 1921-04-24
HUGE DECLINES
MARCURB TRADE
Issues Display Activity and
Strength, But Reverses
Offset Advances.

NEW YORK, April 23.-Activity
and strength prevailed in many is
sues on the Broad. Street curb dur
ing the past week. but advances in
the majority Of issues were Offset
by declines of considerable extent
in other groups. The motor stocks
acted in q disappointing manner.
Bethlehem Motor falling from 2E
to IL and Maxwell Chalmers "A"
from SO to SO and the "B" stock
from Is to IA. Hare Motor when
issued, a combination Of three other
corporations. sold at 8. the first
transaction in II for a long time.
A strong feature Of the market was
the trading in commonwealth n
nance, the common stock advancing
from II to Is and the preferred to
4s to IS.
Durant Motors acted in a disap-
pointing manner, in view Of the
strength shown in the motor stocks
generally 'on the Exchange, moving
up from 20% to % and then reacting
to 21k. Goodyear Tire sold at Is
to 13h and the preferred at 81 to
IS. New Jersey Zinc dropped from
125 to lis and rallied to l20. Sweets
Company was active and strong.
moving up y to az. Market Street
Railway prior preferred sold at ASK
to 80. Special interest was attached
to the market action of South
American gold and platinum, not
only because of the ratification Of
the Colombian treaty on Wednes-
day, but also on account of infor-
nation about earnings of the COM
pauy stehdilv Increasing in volume
Strong Interests were buyers of the
stock early in the week.
Independent oil stocks were ir-
regular. Ryan Oil selling down to
the new low record of 6k and then
raliying to tx. International
Petroleum rose from 14K to 17x.
and Elk Basin advanced from So
to 10.
The Washington herald., 1921-04-24
GAIN OF sll,2OO,O0o
In GOLD NOTED IN
BOARD STATEMENT
Advance Offset by Losses
OF $3,5OOy 900 in Silver
And Other Cash.
RESERVE RATIO 54.14o
Reserve Bank Holdings Of Pa
per Show Increase for Week
OF s1a,5O0.000.

Further gains Of siI.zoO. 900 IN
eolo' onset by losses Of $500. 900 in
silver and other cash reserves. a.
sgAinst reductions Of s5.iOo.OOe IN
deposits and of fil. 500. 900 In Fed
eral Reserve Note circulation were
snown In the FEDERAL Reserve
boaros weekly bank ststenent
isst night. The statement cover.
tne close OF business on April q.
fhe reserve ratio of the bank
SHOWS q rise for the week fror,
SS.7 to 5i.1 per cent
Reserve bank holdings of nane.
secured by United States roverr
ment obligations show an increa,s
for the week Of sIa,SOo. .OOO. rhiie
other discounts on hand declined by
s4,z0o,ooo. Acceptances purchassS
IN open market aggregated sis.Ioo
VVV less than q week ago.
Pfttmaa Notes Decline.
Pittman certihcstes show . A,
cline Of about $4,000, 900. ana o,no.
certificates a decrease of abou, 40
100000. As a result Of ths..
changes, total earning s,se,s -
a decrease for the week OF shor,
slS.ooo.0O0. and on April y stood =,
sz,tso.7oo,0 900, compared win 81
!'e''es.oOo on the correspondins,
date Of last year.
Fapers secured by United stst1t
government obligations arprer,,.
.stz,7oo.ooo. Proportion secured by
Liberty and other United stare,
bonds. Seos.3OO.00O. Proportion g
cured by Victory notes. sz5s Ioo ma
proportion secured by Treasury 60.
tihcates, S7s.2OO. 900.
As against an increase NJ sae Ann
Voo In government deposits tb.r.
are shown reductions Of SIG soo ma
In reserve deposits ana Of as snn noo
in other deposits, compose Isrr
OF nonmember banks clearing -,
counts and cashiers checka
Note CircuI.tiea Lower.
Federal Reserve note eirculst1on
shows q further decline for ~.
week OF sI1.soo. 600, the April %
total of s2.sss7Oo. 900 being sStS-
100000 or l6 per cent below the
peak figures Of December "a. rs.o.
and s2ll6oo.o0o. or per cent be-
low the total reported on the CORE
spending Friday last year.
There is also shown q decline of
s3.eoo.ooo in Federal Reserve Rsnk
note circulation. the reserve banks
net Liabilities on account Of these
notes aggregatinG sl5s. 500 900 COM
pared with SlSo.60o.oo0 a year ago.
A decrease OF sss.0O0 in the paid
in capital OF the Federal Reserve
Bank Of New York is attributed
largely to the consolidation Of two
member banks in New York City
and reduction in the amount OF
Federal Reserve Bank stock carried
by the new institution.
The Washington herald., 1921-04-24

other factor was of a far different
character and consisted Of the APP
pearance of buying orders in large
blocks similar to the trading which
had been a feature In previous
years. One house bought $4,000
shares OF Columbia Grsphophone on
one day during the week and on
Thursday another firm bought 20.-
900 shares Of Studebaker. In addi-
tion to these purchases many buy
ing orders for 5000 and 10000
shsres>were executed. and with the
scant offerings Of stocks that have
been a feature Of the trading for
some time those buying orders
combined with the fractional lot
buying were enough TO exhaust the
supply and put the short interest in
many stocks In a vulnerable post
ton.
There were many who thought
that the market had been Influenced
by a desire to have favorable con-
ditions prevail in the coming week
when the new Burlington bonds are
offered for subscription. These
bonds will carry eh per cent inter-
est and will be offered to the pun
lie at s6h. The total amount of
the issue Is s23o. 100000. and it was
stated by some Of those who should
be well Informed at least one-half
Of the Burlington joint 4s would be
exchanged for this issue. This bond
Offering is expected to come in the
early part Of the week.
It was insisted by some Of those
who were active on the buying side
of the market the past few days
that they had based their operations
on the fact that over $500. ZOO. 900
gold had been imported into this
city from abroad since the begin
ming of the year and also the per-
centage of Federal Bank reserves
had moved up to such a high per-
centage compared with the reserves
held up to a short time ago. Spe-
cialists in money, however, did not
agree with the view that the money
situation has become substantially
easier. One OF them in speakins
about the position of the banks said
that the highest Importance must
be attached to the fact that in spite
of efforts to force liquidation the
bank loans in this city now stand
equal to sl2s for each 500 Of de-
posits, against sI1s a year ago and
sll2 two years ago.
The Washington herald., 1921-04-24
Improved Movement of
Freight Cars Indicated

Improved conditions are reported
In freight transportation with de-
crease in the number of idle cars,
according to a report made public
tonight by the car service division
Of the American Railway Associa-
tion.
The number OF surplus or idle
freight cars on American railroads
for the week ending April Is was
4ss,f7e. II was reported. This is a
decrease Of 7.s4s as compared with
the total for the previous week, when
new high record in the number
OF idle cars was shown.
increases in surplus cars only were
reported in the Eastern and North
western districts.
The Washington herald., 1921-04-24
COFFEE MARKET.

Fairly heavy Iiquidsting pressur.
appeared in May at the opening.
about 5000 bags selling at declines
of 4a5 points Later deliveries were
much less active, but also showed
losses of 4s5 points on the call or
soon afterwRrd.
The bulk OF the May offerings
seemed to come from one sourcs
said to be the same interests which
bought December somewhat freely
early in the week.
Had IL not been for this pressure
some traders believe that the mar
ket would have done better, as cables
were rather better than expected
Santos was 25a75 reis higher. Rio
unchanged 10 50 reis higher; Lon
don unchanged at So and the dollar
rate 20 reis hiRher