davidaulloa/AmericanStories huggingface dataset:
Smyrna times., 1921-03-09
BOOST FERRY FROM LEWES
TO CAPE MAY, NEW JERSEY
NEW JERSEY DELEGATION CON-
FERS WITH DEL. LEGISLATURE
Seek by Ferry to Make Shorter Auto
Route Between Delaware and the
Big Jersey Resorts

Several New Jersey officials and a
large delegation of citizens of that
State and lower Delaware appeared
before the House and Senate Commit
tee on public highways afternoon in
advocacy of the project for a ferry
service between Lewes, Del, and Cape
May, N. j., to connect the road sys-
tenn of the two States and bring Del
aware in closer touch with resorts on
the Jersey coast and consequently that
section of New Jersey in closer touch
with Rehoboth and other points in
lower Delaware. There is bill in the
House providing for the establishment
of wharf at Lewes or some point
near there to accommodate the pro-
posed ferry service. Senator Short
presided at the hearing, which was at
tended by about two hundred persons.
1t was explained by New Jersey Of
ficials that the Legislature of New
Jersey has already passed a bill to
provide for the ferry, including boats
to be used, and that Delaware is only
asked to provide a landing. The New
Jersey bill, it was stated, is so drawn
that all that is needed is for the Della
ware Legislature to provide a wharf
when the New Jersey act would then
become operative.
The proposed ferry would link the
Eastern Shore and Delaware's modern
highway system with the 200-mile
ocean boulevard along the New Jersey
coast. 1t would bring Wildwood, Cape
May, Atlantic City, Ocean City anC
other resorts within few hours rur
of the numerous towns of lower Della
ware and Maryland. State Senator
William H. Bright, spokesman for tn,
New Jersey delegation, said: "Thi'
project will open up the State of New
Jersey to you of Delaware. 1t viii
bring US closer to you. Hundreds o
our people will visit your State an,
through this intercourse a stronge
community of interests will develop.
Senator Bright stated that he projec
was taken up about year ago in NeN
Jersey and pushed energetically. H
said New Jersey felt that her road de
velopment was of paramount import
ance and had recently expended $15
100000 on highways. Two bills al
pending now providing $75,000,0O0 fc
new and improved roads, he sal,
Through the opening of the ferry SCI
vice, Senator Bright said, the tw
\ States mutually could use their sple1
J did highways. He said it was also
good business proposition.
Former Congressman Hiram
Burton, of Lewes, who took part
the discussion, strongly advocated Il
improvement. He said Lewes was
favor of the project and no dificuli
Of great expense would be met in o
taiing ferry wharf site. He ventu
ed the opinion that the town coun'
uusa..yes would support the plan
The Washington herald., 1921-08-12
HEAVY TONE TO
CURB TRADING
Practically All Leading Issues
Are In Supply at Con-
cessions.

NEW YORK. Aug. 1.-THE mar
ket on the New York curb showed
generally heavy tone. nearly all
til leading issues being in supply
at concessions. but with only a linn
tied market on which to sell, max
'ng transactions in the various
groups extremely small in volume
The coal stocks. however, continued
prominent, some Of those issues he
ing in good demand and showing
a firm tone. especially Glen Alden
Coal and Southern Coal aai Iron.
Farrell Coal, however, after =. show
OF strength couple of days ago.
was In supply apparently because
of weakness in other trading groups
and yielded from IL to 11k. AL
lied Packers was a weak feature,
selling at 23s, against 6, its last
preceding sale. Acme Packing was
steady, with sales at 1k.
A small amount of business was
Transacted in Acme Coal at /. The to-
bacco stocks were fairly active, Phil
lip Morris selling at 3% andd 3Ik,
and Tobacco Products exports was
traded in at 5h. There was only
small amount of business in the
motor stocks, Continental Motors
selling at 5%. Intercontinenta II Rub
Der was unchanged at Z. Specisi
interest was attached to the mar
Set for H. #. Hoibroox, Inc. be-
'aLse Of the pron.iaen..e OF tie man
ufacturer prior to the incorpora-
tion of the company, and there were
many reports from trade circles of
q demand for that stock. Radio
issues were traded in to q mod
crate extent at UNCHANGED prices.
A sale of Repubic Railway and
Light was made at 5k.
The petroleum stocks showed lit
tie change in trading position. CaIib
Syndicate again selling at and
small lots of cities S,-vice chspged
lands at lis and lis. Maracaibo
was unchanged. selling at from 1917
to 1sk. Elk Basin was in moder-
ate supply and ranged from 6 to
81. Simms Petroleum was steady.
selling at 6% and sA. Standard
OIL u Indiana was dull, n little
business being transacted ct es%.
Mining stocks continued TO be dealt
in on a large scca.e. Boston and
Montana being prominent featur.
in that group. F1o-snce Goldfeld
was hrm and sar-c was a steady
tone t0sNationai Tin.
The Washington herald., 1921-08-12
CsItIvste More Land Than Befsre
COFFEE MARKET.

NEW YORK, Aug. ll.-Thers was
a further rally in the market for
coffee futures at the opening todss.
first prices being 10 Z points
higher on renewed covering or
scattered buying promoted by the
steadier showing OF Brazil. This
bulge encountered scattering liqui-
dation or realizing around 6.s6 for
December. however. and price
later SsRged off several poI9ts from
the best Gs though Influenced By
the unsettled feeling reported in
Wall Street and the stock marks:
Rio exchange rates were steadieT
the dollar being so reis lower while
exchange on London was Lied
higher. Notwithstanding this rnilrefs
quotation showed moderate advsn-
ces. tine cables quoting Rio UnchsnE-
ed TO l75 reis higher was followed
by a further advance of lJo reis on
some deliveries
Except for Ihe fluctuations there
was no buying incentive in the Bra
lillian news. as the weather was
favorable in Sac Paulo and receipts
were about on the recent scale
The two ports had 5000 bags
against $4,000 last year and January
receipts were $4,000 against ls,eOp
last year. Santos reported q clear
ance of 1920 Gags for New York.
Rather steadier tone was re
ported in the cost and freight mar
ket and 4 continued fair demand Tor
spot coffee with quotations on tie
basis OF 65s for Rio IS and 50. to
The Washington herald., 1921-08-12
WESTERN UNION
BONDS FEATURE
Offering of s15,00O,OOO Obi.
cation Readily Absorbed.
Foreign Issues Dull.

NEW YORK. Aug. 1.-THE mar
ket for outstanding bonds derived
NO support from the readiness with
which the sl5.oOo.GU9 offering of
Western Union Te.orraph So Ter
cent bonds was Tsken when the
subsci .ption books open d this morn
ing The inclusion Of a noEcal'ab
feature in the loan agreement un-
dorhtedly added to the popularity
e tn" issues. The bonds >old en-
a when issued" basis today at ssI
and s9i2. compared with the issue
price of 90. Today's bond market
presented much the same appear
ance as the market for stocks, ex-
cept that reactions in bonds were
more orderly. 1t is worthy % note
that the volume of bustress was
much reduced as the decline con-
t'nued. and that transactions in
;-ibert% issres accounted .or the
major part OF the total sales. A
decline of - cents in Second Lib
erty AZ and l2 cents in the Fourth
AIS represented the only hrpor-
tsnt changes in the war group
There was very li:tie trading =.
foreign bonds, and changes were
small. Denmark IS advanced y
point to IolS. Armour Real Es-
tate ti=s declined 4 10 79'i. Fer
no apparent reason. CCo1 Cane
Sugar IS were sold in large VOL
ume. declining 81 poin:s TO so. This
issue reached the low point of 81
early in july, but made recov-
cry Of almost ten points before
the end of that month Another
feature today was a declin. oi H.
points in Kelly -S2rilSfield Tire SIS.
st. Louis and San Francisco ir-
come and adjustment: bonds were
offered in large volume. and dc.
clined large fractions
The Washington herald., 1921-08-12
Enormous Tonnage
ODer Country Roads

The necessity of keeping country
roads in good condition is shown
by a report recently compiled by
the Bureau of Markets and Crop
Estimates. United States Depart-
ment of Agriculture. showing the
extent to which they are used IN
hauling farm products TO market
According to the report. which
shows the tonnage of eleven prod
ucts hauled on country roads, giving
the yearly average for the period
from 1915 to 1919, there were twen-
ty-seven tons of these eleven crops
hauled for every 100 acres of land.
The average tonnage OF the eleven
crops hauled on the country roads
each year for the period mentioned
amounted to S6.56O.000 tons. The
eleven crops referred to in the re-
port are corn, wheat. oats. barley.
rye. rice, flaxseed, cotton Qnclud-
ing seed), tobacco. potatoes and
cultivated hay.
The Washington herald., 1921-08-12
FOREIGN TRADE BALANCE
MAINTAINS HIGH LEVEL
Years Total Near to 1920, Notwithstanding
Recent Declines. Farm Products
Exports High. -
(By The Washington Herald Econonist.)

The outstanding fact of the
years foreign trade is the main
tanned balance as compared with
the fiscal year 1890. While both
exports and imports have dropped
off, the difference in favor of the
United States remains almost as
high as the past year.
The summary of foreign trade for
the fiscal year ending with June
shows the depression in manufac-
turing in contrast to the produc-
tion Of raw materials. OF the total
decrease of about 10 per cent. raw
materials lost % per cent. food
products Is per cent and manu-
faetured goods Is per cent.
or imports. raw materials showed
the greatest decrease or about so
per cent. while manufactures and
foods lost only II and II each.
The factories both her and abroad
have been taking a smaller amount
of crude materials
Errors are frequently made In
comparisons of foreign trade for re-
cent years by using the figures for
the fiscal year ending June so when
the calendar year Is meant and
vice versa In the following table
the fiscal year is used ending with
June 80 last.
The Washington herald., 1921-08-12
FINDS EUROPEAN
BUSINESS BETTER
]. Leonard Replogle Back
After Summer Trip
In Europe.

J. Leonard Replogle. chairman of
the Replogle Steel Co, and presi-
dent OF the Vanadium Corporation
OF America. who has just returned
from a trip to Europe where he vis-
tied Germany. Austria, Poland.
Czecho- -Slovakia. England and
rance. finds conditions in that
continent still bad but materially
improved from what they were a
year ago. Mr.. Replogle was par
ticularly impressed with the prog
ress being made by Czecho- -Slovakia.
He said:
Germany is coming back strong.
A year ago she had few industries
operating. largely on account OF
coal shortage. Now she appears to
have plenty of coal.
Il found good crops throughout
the countries l visited. although
materially injured by the long con-
tinued drought.
"Czecho- -Slovakia appears to be
about the most promising of all the
newer nations. 1t now has IS per
cent to so per cent of the steel in
dustry in what was formerly Au-
tria Hungary, and such plants as
Skoda, Witkowitz. and Bergun Hut
ten are operating about So per cent
capacity. They are shipping con-
siderable steel to South America and
a material amount to England.
Their low labor costs, due to depre-
eiated currency. give them an enor-
nous advantage in export trade.
in Austria, where ! spent some
time, and Poland, the currency sit
uation Is very bad and has almost
reached the stage Of barter ana
trade. The farmer. in many cases
refuses to sell his products Tor
money as he does not know what
the money will be worth tomorrow.
During the few days we were In
Vienna kronen went from $50 to
1000 to the dollar. The farmer re-
fuses to take it on any basis and
will exchange his eggs and butter
for shoes and clothing in pref
erence."
The Washington herald., 1921-08-12
Big REDUCTION lyg /.
COTTON, TOBACCO.
And RICEACREAG
Gain in Staple Food
Planting Offsets Half
OF Loss.
LOW PRICES REASON
Much of Implanted Area Goes
Back TO Pasture or Re-
mains Idle.

The Cotton Belt has this year re-
corded an unprecedented change In
tho ratios Of the acreage devoted to
leaoing crops. 4 change Of pcr
rent In the country wide zcresrS Of
major crop is unusual, 10 per cent
is rare. and Is per cent Is unknown
except under extraordinary clrcum-
1f1nces. such as arose during the
var. or in the case Of fall-soNn
grains when severe winter kiIliHG
may result in extreme changes.
Cotte. Acreage Cat - Per Cest. :,
The ten leading cotton States.
North Carolina, South Carolina.
Georgia, Alabama. Tennessee, Mis-.
Eistippi. %Louisisna. Texas, Okla.
hnma. and Arkansas. have cut their
cotton l0.ls4. 900 acres. or IS per
cent. from last year, according TO
figures compiled by the Bureau Of
Markets and Crop Estimates. United
States Department OF Agriculture.
In addition they reduced rice 45O.pOp
acres. or 3s per cent, and Tobacco
2S2. COO acres, or 90 per cent, a total
reduction for these three crops OF
lo.seS,O0O acres These reductions.
which were due 20 the unsatisfac-
try prices for last years crops re-
sUlting from financial deflatfou.
coupled with heavy stocks and fes-
scned buying, are partly offset by
Increases in the acreages Of staple
food and feed crops in these States
Corn shows a gain Of 4.52I Goa
res. or lS per cent: wheat $4,000
acres. or lc per cent: oats 100000
aT'es, or IL per cent; hay $4,000
ares. or > per cent: sorghum and
c ne $4,000 acres. or 10 per cent. and
r. tatoes 1890 acres, or 10 nes
cent: a total increase in these six
G. ops OF C.ts3.OOo acres. Further
Cffsets to the remaining difference
g 4.4s3,00o acres exist in increased
? antings Of cowpeas, SOY beans.
velvet beans. and other less import
Iant crops. Alabama alone reported
increased paintings OF S34. 900 acres
of the three crops named. but these
Is largely planted in with corn and
are. therefore. included In the acre
sLo Of that crop.
Cultivate More Land Than Bessre
War. ...
The larger part OF the L423pso
acres unsccounted for has gone
hack into pasture or is left idle,
T'he land in cultivation during the
past few years has been Consid-
cia0ly in excess OF the paintings in
the pre-war period. the area under
cultivation in the United States fn
1890 having been about 10 per eesE
greater than the average acreage
titled for the years lSlo-1sll The
net reduction In the cotton States
still leaves in cultivation a larEe-
acreage than before the war
The Washington herald., 1921-08-12
q. 8. Foreign Trade.

The decline Of the last half of
the fiscal year just completed has
been chiefly in values. The price
peak came late in 1920 and the
most rapid declines since the first
OF the year 1921. Imports began to
decline sharply in September, 1920.
while the most noticeable decline in
exports began in February and
March.
The years trade in terms of the
index figures. prepared by the Fed
eral Reserve Board TO eliminate the
effect of price changes for twenty
nine commodities. shows exports
very near to the 1918 mark. while
imports have declined steadily for
several months and are also but
little above tho 1913 mark.
A survey of a group of leading
The Washington herald., 1921-08-12
TMELYWALL LSTREETTOPICS

appointments. notably the fault of
Congress to take more speedy ac-
ton TO help the railroads. have led
10 pessimism7 Or is the specu-
lative community again looking at
everything through dark giasses
because the market is undergoIne
enothsr technical reaction? A ma
oority' Of the men who make o bust
ness OF following the markets
movements have been bearish for q
week or more. Some Of them sensed
distribution before the top OF the
last FORWARD swing was reached.
others have reason to believe that
INCUBATION was in progress or in
Still others be-
came bcartsh on general principles
Their sentiment. has now spread a.
the rank and fle OF traders. who
while not yet emboidened enough
to follow in the wake of the big
bear operators, are 1t least not buy
ing stocks on the reactions.
Having taken for granted the
completion OF the forward move
ment. market observers are con-
ccrned now with the probs bic ma
ture and extent OF the present
downward swing. or will the sharp
break come first and be followed by
q slow decline? IL was recalled to-
day that the last bear market was
made up OF a slow decline of four
weeks, beginning May 6. and A
sharp reaction OF about two weeks
running up to June 20.
Western Union recovered over
night about points Of the ga
points 1T lost yesterday and ad-
Nanced close to so before finding a
resistance point II was aided By
the favorable terms Of the $4,000 :
900 loan, which was offered this
morning, and by the fact that the
issues were all taken within . sfsor;
time after the subscription books
opened. The June statement ~
earnings, showing a decrease on
s24s,oOo in net to sI,255. .OOO. was
not inspiring, but IL was no wors.
than what the Street was led 20
expect when the stock declined SO
sharply yesterday.
. The probability that relief for
the railroads will not be fortbcom-
ing until october had a depressin,
effect upon the equipment stocks
notably Baldwin. and hallway Steel
Springs American Locomotive and
American Car and Foundry were
also heavy. With the equipmen,
companies the granting Of loans 70
the railroad means payment for
work already done. as well as re-
Punishment of future business on
order books.
-Four important dividend declara
uons were announced today. The
regular American Locomotive div;-
dends of II. per cent on the COM
mon and = on the preferred were
expected even before the compan nv
re9ort5d its common dividend for
the whole year earned more than
twice Over during the first halr Of
this year. No question OF the
Union Pscific's ability TO pay the
regular quarterly 81. per cent com
mon and semi-annuaI per cent
preferred dividends had been raised
The ether regular. dividends an
nounGed today were the Il, per
cent American Telephone and cable
company common disbursement
and the regular quarterly II. per
cent on southern Pacific.
The Washington herald., 1921-08-12
COTTON SCORES !.
SHARP ADVANCE
Heavy Selling and Liquidation
By N. Y. Bulls Aid Crop
Materially.

NEW YORK. Aug. 1l.-There was
q heavy selling movement on the
market directly after the opening
today It looked like the continue
tion OF liquidation by some local
bulls and also some further hedge
selling on Southern orders. In ad,
dition to this pressure on the gem
eral list there was a good deal Of
liquidation in October contracts.
Prices started about 10 to is points
lower and made a miximum break
Of 30 to "a points from yesterdays
closing before the selling move
ment ran its course. BY that time
october contracts had sold as low
as 1892. December 1889. January
13.40. March 1854 and next May
deliveries 1874. The Liverpool mar
ket closed weak at about the lowest
with, the decline ranging from 10
to Is points under the lead of near
months from yesterdays final quos
tations, against the decline of but
to points due to have met our
closing prices OF yesterday. Spot
cotton there was still in fairly good
demand with the price points
lower in the early trading and sgd
for middling with the days spot
sales $4,000 bales. including 5000
transacted late yesterday.
Private cables said there was a
good deal of liquidation and hedge
selling of futures there. mainly be-
cause dry goods trade reports were
not as good as had been expected.
Liverpool houses were good sellers
of contracts here on balance. In
the early afternoon the market rail-
lied on covering of shorts upon the
development Of some fresh specu-
lative purchases. for some of the
local and Wall Street bull element.
This proved sufficient to turn the
market up about 20 points from
the lowest for the near months and
Is to 10 for the latter. with October
rallying to l3L cents. December
1855. January about 1859. and
March to 1874 against 1884 for
May. Export clearances posted up
to o'clock were but 4.s2S bales.
Some ~ the Southern spot markets
were Off 10 to 90 points. Tempera-
lures in most sections of the cot
ton belt were again high with.
however. some scattered further
rains in the Atlantic States and
the upper Mississippi Valley.
The National Ginners Associa-
lions reports makes the domestics
consumption Of cotton for the
month of July 42s,000 bales against
461. 900 in June and 525.00o in July
last year The Census Bureaus
report will he announced at II
O'clock. our time. on Monday. Au-
gust IS.
The Washington herald., 1921-08-12
METAL MARKET.

NEW YORK. Aug. 1i.-There, was
another sharp decline in the Lon7
don tin market, with standard spot
quoted at Er57 IS. decline OF f2.
while futures. were quoted at
fl5s los, a drop of { los. with sales
Of. 100 tons spot and $50 tons fu-
lures.
The Washington herald., 1921-08-12

the proposed Federal charter to the
acceptance of the Secretary OF
Commerce. This" he said, "would
necessitate the raising of private
capital to launch the campaign 10
force the company to accept such
charter"
Chairman MacGregor. of the sub
committee adjourned the hearings
until Monday of next week, when
the livestock associations will con-
ciude their testimony and DR.. w.
}. spillman. former chief of the
Bureau of Farm Management. will
he heard in favor of the bill.
The Washington herald., 1921-08-12

NEW YORK. Aug. lf.-Real
OF stocks and renewed
activity on the part OF professional
operators on the short side resulted
in not only q continuance of the
downward trend on the stock mar
ket. but also quickening OF the
pace ut which industrIals and rail-
roads declined yesterday. The best
results from the point of view OF
the short eiement were obtained
by concentrating pressure on one
weak spot after another. In like
manner losses OF / to points were
sustained in such issues as Baldwin,
Houston, Cosden, Allied Chemical,
General Electric. General AphaI,,
81 Paul : common and preferred.
Union on. Chesapeake and Ohio,
American international, Mexican
Petroleum. InternationaI Paper, Ma
rine preferred and California Pc
troieum. Several issues went into
new low ground. In the case OF
General Asphalt loss Of more than
points followed closely on the
publication of a report showing a
dehcit for the first six months OF
this year. III -
The Washington herald., 1921-08-12

The American Petroleum Institute
estimates that the daily average
gross crude oil production in the
Cnited States fof the week ended
July 30 was 1,314,2i0 barrels, as
compared with 1.307.360 barrels for
the preceding week, an increase of
$3.50 barrels.
The Washington herald., 1921-08-12
CONTROL OF INSURANCE FIRMS
SOUTHERN PACIFIC
DECLARESDIVIDEND

SAN FRANCISCO. Aug. 1.-THE
Southern Pacific Railroad announced
1t had declared a diyidend of ,i.5o
per share, payable october /. to
stockholders Of record August 81.