davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-06-20
For fortnight the sale Of new corpor-
ate issues has been limited to few
small and unimportant commitments

The call money market in Wall
Street vacillates to extremes. A fort
night ago the financial district was in
the throes Of monay squeeze. Call
loan rates scared to per cent and
borrowers covered their needs only
with difficulty. Last week the situa-
taon was exactly reversed. More money
was available than was needed. At the
Stock Exchange the rate dropped to
6a per cent. Lending institutions
found they could not placs their sur-
plus funds through the usual channels,
80 they took to Offering money over
the counter in what tho Street calls
tho "outside market" Here some money
was lent on call against government
paper at 3 per cent toward the end
CT last week, the lowest rate in several
years. The explanation for the sudden
increase in loanablo call funds was
simple. Banks were in funds by reason
Of preparations by the government to
meet its heavy Juas IL payments and
this temporarily created large sur
plus, which was put out on call. AS 1t
is drawn against 1t will 60 out Of the
Street. so xhst the low rates Of last
week cannot be expected to continue.
The most significant development In
the mouey market was, Of course, the
reduction by ths local Federal Reserve
Of its commercial rate Of discount from
6sa to PER cent. Such action had been
foreshadowed by the steady improve
ment IN the local banks position. It
will be Interesting to SEQ the effect Of
this LATEST change, which puts the off
cial rate back to that obtaining in
June, 1920, upon open market CON-
mercial discounts, which have held
around z per cent since the bank low
cred its rate from to e1a per cent in
May.
In declaring the regular quarterly
dividend Of ~ per cent the directors
Of the Northern Pacific Company did
better than stock market gossipn pre-
dicted, yet there was little cause for
elatiop In their action. The dividend
was not earned, but WIS taken out OF
surplus, representing the savings from
past periods of prosperity. Giving
stockholders returns which are un-
earned is doubtful financial practice
and the only cheerful aspect Of the
move is the suggestion Of faith on the
part Of the Northern Pacific directors
that the present Improbable period Of
railroading is only passing phase Of
the situation.
New-York tribune., 1921-06-20
The Trend i'm Finance
Vigorous Driving Depresses Industrial Stocks BE.
low the Average Prices of Last De.
cembers Credit Is Easier

UMAN perception according
laws Folk large extent what
example, that segment
spccuates In securities uned
smisc the destructive
development recognition by such high authority the directors
the Federal Reserve Bank Of New butressed Federal
Washington practically
spring paper
by the whirlpool
New-York tribune., 1921-06-20
National City Opens Branch

The Forty-second Street branch Of
the National City Bank Of New York
w1il be opened for business to-day in
the former Manhattan Hotel Build;no
on Madison Avenue and Forty-second
Street. The building was purchased
some time ago and converted into a
modern office building, and banking
quarters have been established on the
ground floor.
This marks the first use by the Ma
ttonal City Bank of the amendment to
the Federal Reserve act allowing ma
tional banks to operate branches, al
though the bank operates more than
seventy-tive foreign branches in all i'm
portant countries throughout the
world.
New-York tribune., 1921-06-20

hepeLiESon OK olQ TumQrS apouS Rd-
verse conditions Of the oil fields Of
Mckee, continued weakness In raw and
refined sugar, heightened dullness In
the barometric steel industry. and fur
ther reductions or passing Of divi-
dends-such items in the news were
avidly absorbed by traders. And on
each Of the last four sessions Of the
week the average quotation Of thirty
typical Industrial stocks tumbled help
|lessly 20 the lowest levels attained
thus Gar IN 1921. without any. repsti-
tion Of chs panieky feeling Of the dis
|astrous ssssions Of last December, quo
tstaons xeceded until an tho average
che Sass vssttEes Of the recovery earlier
this spring were effaesd. At the depth
Of the slump last Dccenaber the in
dustrial average was 67.e7, compared
With 62.2S ON last Saturday.
The action Of tho Market altar more
than u month Of decline, ks causing
much philosophical speculation among
these who lock upon 1t az a forecaster
Of what 70 coming IN business. If the
market hSs been foretelling the future
during the last two Sortnights, tho
coming months are not likely to bs
replete with the same degree OF re-
covexy 40 was hoped fos. In assess
ing the meaning Of the recent quiet
slump, one should remember how
largely it has been facilitated By bold
driving tactics by professional specu-
lators In quest Of deelins.
There 10 nothing fataMstio In the
Judgment Of SPECTATORS. The nature Of
the present readjustmsnt in industry
Is unprecedented, and sven the wisest
bankers and tho shrewdest business
mem are waiting humbly day by day
to learn from tho event.
Although fundamental conditions IA
vor an upward trend in prices OF fixed
interest bearing securities for the long
future, temporary and superficial IN
nusnces have tended recently to check
constructive impulses, so that the bond
market is for the moment gcaxcely do
ing little more than holding its own.
The nervousness in ths stock market
last week caused natural hesitancy in
bonds where prices ruled irregular and
exhibited no we'll defined tendency. The
feeling Of the Investment community
Is that the passing Of the gloom hang
Ing over all the financial markets will
be quickly reflected in the bond mar
ket. Reduction last week in the COM
merc!al discount rate Of the Federal
Reserve Bank Of New York was help
full factor, temporarily ignored. An
other favorable factor was the let-up
In the Aow Of new security offerings.
New-York tribune., 1921-06-20
International Board for
Trade Arbitration Urged


WASHINGTON, June 19.-Creatioh
OF permanent international COMMITTEES
charged with ironing out difficulties
arising in the exchange Of goods pv
tween nationals of different countriss
is to be proposed by the American de,s.'
gates to the London meeting OF tns
international Chamber Of Commerce Oh
June 27.
"The American committee proposes
that the international committee go
made up Of two distinguished distriegs.
tors from each country affiliated ~i'n
the international chamber" says
statement from the Chamber OF oos'I
merce of the United States. "lt woui9
be empowered. to make its own rules
to promulgate its own decisions =
matters like standard documents, uni'
form clauses in contract, arbitrator
practice and the like, and TO act for tns
benefit of distribution in any way thas
does not conflict with the general
rsngements Of tho international casm-
her."
New-York tribune., 1921-06-20
Brazil Studying National Coal

Or. Simon Lopes, the Brazilian Min
lister of Agriculture, has ordered that
studies and experiments with Brazilian
coal be continued. and toward this end
he is Fastening the installation of the
experimental station for combustibles
and mine products, adjoining the Min
istry of Agriculture. The station is
erecting boilers suitable for locomo-
tives and ships, in which various types
ct natksnal coal will be tested,
New-York tribune., 1921-06-20
Transactions Last Week i'm Listed Stocks
Summary of Stock Exchange Dealings
January ! to date.

(Cepyrght. 1881. Now York Trisuns fas.l
Sfncln
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16
RAIL SITUATION
EXCITES STOCKS
Rails React and Reversal
Extends to Steels
and Others

NEW YORK, oct. 15.-Ovcrnight
developments IN the railroad situa-
ton unsettled today's stock market
session. rails Of the investment di-
vision reacting / to 3 points.
Tho reversal extended to %stcels,
equipments and nero allied is
sues. but domestic oils followed their
recent movement into new high
Ground. Several OF the foreign oils,
especially Mexicana Petroleum, also
were substantially better.
Elsewhere trading was OF a desul-
tory character specialties tending
mainly downward, with n new low
record for American Sugar. Pierce
Arrow common and preferred were
unusually active at material ad-
va0ccs. Sales amounted to $4,000
ehlrDs.
Aside from the rs, which rose
eighty over 80 points, dealings In
liberty bonds were dull and feature
less. The general bond market was
Irregular.
Another sharp rally in British
rates. with demand sterling at $500
or almost 3 cents owe the week >
minimum. and the further slump in
German marks to a level approx
mating 65-10O directed renewed at
tention to the chaotic conditions
abroad. Most other European rates
were better on limited dealings,
Total sales, par value, aggregated
S7.l62.0OO.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

with G7O,S5O barrels for tho proceed -
ing week, an Increase OF 1900 bar
rulR.
Tho estimated daily average gross
production ~ tho Gulf Coast (hcavy
OH field Nea i0iT0O barrels, as
compared with s5.i0O barrels ion
tho preceding week, an increase OF
q. COO barrels.
The combined daily average gross
production or the souJnwcvt firIu
was TI1.t6O barrels. al compared
with 765,950 barrels FOR the proceed d
ing week. an increase OF 1880 bar
relR.
Oklahoma-kanals shows a daily
average grosa production qf 800. 200
barrels, an Increase OF $50 barrels.
North TcNa7 shows a decrease of
1850 barrels; Central Texas, an in
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16
WORLD MARKET PAGE
Cotton

NEW ORLEANS. La, oct. Ia
irohounced firmuoss was shown in
the early trading In cotton today ct
me highest the trading months were
~ 70 81 points over the close OF yea
terday December rising to 19.Ogc.
Nltef the middle OF the session
values gradually tapored off under
renewed selling for short account
ana realizing by those who took on
long contacts around the opening.
Tle close showed not gains ON the
day OF only 2 to Q points on the
moro active months, Becembcr's
last price being iSslSc.
Highest prices OF the day were
reached on kilograms from Tcxaa
claiming the crop Of that state was
90 per cen giuned and ON tho t,lr-
rams from oklahoma saying thai
glhnlng would De finished there in
Is days.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16
In the Oil Fields
Standard Oil Complains of
Lou Freight CHARGES

Baltimore. guarding against repi-
tition court actions, which in past
have resulted in fines imposed upon
II for rebating, Standard oil Co,
complained to Maryland Jublic serv-
tee commission that It was not be-
Ing charged enough for freight ship
ments between Canton and Anfnapo-
lis. Company C~outended IL was
yaping 2 l-2 cents less per 100 lbs.
than It should pay, y. & O. off
cials replied that charge was all
right, Standard has been asked to
withdraw its complaint.-N. Y. sun.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

KANSAS CITY, oct. l6.-Catts-Re-
ceipts 500, for week Beef steers Rener-
ally i505Oo higher; some short fed steers
UP more. top Sl0.25i fat she stock, can
.ners and cutters steady to ESQ lower.
bulls steady 20 weak, yeaierS steady
heavy calves strong to soc higher stock
ers and feeders mostly lJGbOc higher,
stock cows ana hoifsrs steady, stock
calves mostly csc higher,
H~ogs-Receipt5 26Oi generally steady
with Fridays average prime weight al
to 1926 pound weights $500 Sis, me
sows S6.5od co. stock pigs steady,
She p-HrcCiptE 800 FOR week. sheep
Toe higher, top westerns $500, feedinE
lambs 30 ~ SOC higher.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16
WHEAT DECLINES
IN LATE TRADING
Figures on Farm Reserve
Responsible for the
Early Bulge

CHICAGO, oct. Ia Although
wheat prices at first showed
strength today a. a result Of
tiRurcs on farm reserves, the mar
ket later declined owing to asser.
tons that tho report was incom-
plete. II was said the stocks In
country elevators and mills had been
omitted. This would make a differ
once Of about 10000 600 bushels.
opening prices, which varied from
the same OF yesterdays finish to
/ lac higher, with December at
3ll5 "a to &i.l6 IA and MAY xt.20
to Sl.2l, were followed by moderate
sctbagks all around.
week end evening up OF trades
rallied the market IN the last hour.
The close was unsettled at l-Sc net
decline to q Ike advance, with be
cember S1.l6 SIS TO gl.15 rs and
May Si.l9 b-S TO Si20. Corn fin
ishcd 1-Sc of to 1-S01-4c up. and
oats gained Is to i-4m3-6c. In
provisions the outcome varied from
? l-2c decline to a rise Of Toe.
Corn and oats were governed
chiefly By. the action OF wheat.
Rural offerings lacked volume.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16
Russia to Export oil

Announcement made at Moscow
that commissariat for foreign trade
has decided TO throw on local market
all Kerosene allotted for export trade
and alFo to organize export he'c iu
RiEn, Lctvla4 for naphtha products.
Said purpose decision b. Go avoid
control these products by a western
European syndicate. which commits
sariat alleges offers only one-sev-
cnth OF their value for them-N. y.
journal OF Commerce.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

crease Of $50 barrls; North Louie
lana. an increaac Of 1850 barrels,
and Arkansas. u decrease Of 1900
barrels.
The estimated daily average gruF
production Of the Wyoming suu
Montana field was iS,25O barrels, as
compared with 1880 barrels FOR
tho preceding week. a decrcosn Of
400 barrels.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

chr Kan, oct. 1b.-Hogs-Re-
eeipts 2oOi steady top 1906. bulk $500
sS.Ob.
C~attle-Reccipts 200. steady for week
with only fat cows, 25c lower: butcher
steers |350m6.25t butcher cows and
heifers- }2.7J 600. COWS s2.76HA.OO
gtockcrs and feeders &2.50a 5.75i calves
1850 500.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

what Il Is under present conditions.
and oil mon are urging that the pro.
gram Of rond building. now under
consideration, be adopted and put
through. The daily production W
oil In the Usage. at 'ho present time
Re- around cO.OOO barrels, Tho Usage
on Producers association has in
durscd the rona houd issue.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

" IONk. OCT. l5-COtt0rgcoH on
vas ialr!y active and firmer ON buying due
port and %firinncss In lard. The close was
, 10 IS points net higher. Sales 10000
barrels, Prime crude TOCc; prime sum
nier yellow spot 5 ,t0c bid December S.Slc;
march s.OAc and May 3.yOci all bid.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16
Torrirn Eulhnnrr.

NEW YORK. oct. - -korcign Eye
change irregular.
Great Britain-Dsmaud 2.gPI. cabies
S,SgA 6O-day bills on banks YGg
Frauce-DemHnd 50: cables 7A2v.
ltaly-DemAnd 400 cables I04L.
Germany-DemSnd O6bA cables O.66
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

Total ...,....l ,162 700 i,156 600
The cstlmatcd daily average gross
production of tho Mid Continent
Olght oil) field. including OK oho-
ma. Kansas. North Texas, Central
rcXGs, North Louisiana and NrNan-
saa. for the week ended October &
was 672.7b0 barrels. ~ compared
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16
Fort worth Livestock
70
rrDr VIZ

FORT WORTH. Texas, oct. i5.-Cattle
Receipts $50; beeves s3.50a625i stock
ers $500 n $50; cows ana heifers g2.0Om
500. calves 81 90 CTS.
HoEs-None; lights ts40dS.5o: heavy
$50 Ws.25; pigs .7504SOO.
Shep-Nouc, lambs $500 AZ 3. rs; weth-
ers Si.G0Gj.00i goats 800 200.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

OKLAHOMA CITY, oct. Is. Cattle
Receipts 1850; steady; steers S425GS753
cows and heifers $500 $50, calves s.. SO
Gs.bo; stOckers and feeders $500 al 90.
H~ogs-Receipts $50; steady; top 17s5;
bulk f7oOUf70.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

NEW YORK oct. Is.-Tho actual con.
dition ~ clearing house banks and trust
companies for the week shows that they
hold A39.0bS 400 reserve in excess OF legal
requirements. This Is an Increase Of
I l.o?L3l0 from last week.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

EEw ORLEANS Oct. IS. Cotton
Spot quiet, Csc higher. sales on the spot
IL. o0c, good middling 10000; receipts
g.6O2, stock iiS,9G6.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

CHICAGO, Oct. rs. Cattle-Receipt4
LOCO compared with week ago: Corr
70 steers and yearlingS mostly 20 II SOC
higher; spots on yearlinEs up more,
srtssers, warmed up steers and She stock
steady to 25C higher. bulls weak 10 l5c
loWer, light veal calves unchanged:
hesFy calves unevenly higher; stockeTs
ana feeders strong TO i5c higher.
Hngs-R Receipts 1000, uneven; Eight
ushis st'fpy to lOc higher others
steady to Toe lower than yesterdays
butchers tS'sOa $50; bulk packing sow
tt.bOn7 rs; holdover liberal; pigs strong
9ulk desirable 100 TO i3O pound pigs 1875
sheep-Receipts 1000; receipts today
Practically all packer direct compared
WIN week ago Killing classes steady to
ese higher feeders 2bc higher.
New York Cotton.
u,NEW YORK, oct, ls,-Cotton-Spot
qulHf middltnE 1860
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16
MARYLAND to Build More Tanks
to Care for NeW Production

PONCA CITY. oct. 15.-In order
TO take care Of the new production,
secured in the field south OF Tonk-
ava and about Is miles southwest
OF this city, the Marland on com
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16
Production in General
Shows Slight Increase

An increase OF G,lO0 barrels In
the daily average gross crude pro-
duction in the United states for the
week ended October s is shown by
the estimates Of tho American Pc
trolcum institute, production for the
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

CHICAGO. oct. 10. - -puttcr-tnwe-i
creamery extras Aiiac. nHsts 2Sd44c;
seconds SOC 3lCi standards agitc.
EEEs-unChanged receipts G.3S7 cases.
Puutry-Aivc unchanged.
Potatoes steady. receipts 81 cutai
Wisconsin anu Minnesota white sacked
LOO r IS Cwt. North Dakota white
bulk $500 cwt.; Minnesota and North
Dakota Red River Ohios bulk assoc
1 30
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

NEW YORK. oct. ~l5.-Liberty bonds
closed 3Es e2B2, first IS 92.S0 hid
second a. 92.6S, FIRST AS 03lt, second
as s272s third ihs S462i fourth 49,
g3.02i Victory SIs 99,iO.",,. Victory
ANS 99li.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

NEW YORK. oct. IG-Butter poul-
try and potatoes unchanged.
2gc
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

pany will build five morS r.g tanks
for crude storage ON It's tank farm
adjoining this city ON the southwest
Announcement of this Intention was
made here this week.
Marlaud's new field production II
now running cloeo 20 1000 rrelr
daily. as the discovery wei on the
Smith school land lease is still Flow
ing around 75N barrels and the new
well on the See farm t. nj Toast iu
the 1000 barrel per day class. There
was not sufficient storage In the
field for the new well and It was
turned into the pipeline to Ponca
! CITY.
The MARYLAND refinery has IN
creased its running schedule ana II
now taking care of 10000 barrels Of
crude daily at the plant. II has
been necessary, 10 Is understood, TO
turn some Of the lube stills into
crude stills, and indications are that
the big refinery here Will be running
full blast.
The town Of Bliss. 10 miles south
OF ponca city, is the nearest ship-
ping point to the new field, the haul
~ truck being between six ana
sever miles from the 10l ranch
town. Several years ago Bliss looked
forward to being an oil center, bur
the well then being drilled by the
Miller brothers close to Bliss proved
dry and the towns aspirations went
away also. Now, however, Bliss IS
getting a good play from the new
field.
May Bring II Railroad.
ON men predict that, /: the ne"
field proves as good as indicated
It will bring an east and west tail.
--.1 ,..... 4I.a sgEW,taa.r H.aIuvt
the Rock island from It's dead enc
at Billings on the east to Ponca city
or the Midland Valley will extend II,
Appersou line on westward into thii
district. This extension would put
Tulsa in close connection with th'
new field. and It would also give an,
other outlet for the output OF the
three refineries here.
oil leases again went on the mar
ket in the field south of Tonkawa
following the bringing-iu Of the sec
ond well by Mariand, and there has
been a strong play there tho past
week. Numerous companies arc
seeking entrance into this field ana
leases are being sought in all dIroc-
/ lions. One test has been started to
the northeast I'm Kay county, aCros
the Salt fork of the Arkansas river
from the proven field.
Another wildcat test in the Tonk-
ava territory was made certain the
past week. when H. l.. spencer an
others made a location on the y. X
Schmidt farm, I'm the northwest OF
l~9-26-lw. The rig has been com
pieted and work is anticipated soon
This location Is about three miles
northwest Of ToukawH,
OH Men for Good Road.
OIL operators In tho Usage u
try have gone on record as favorinE
the proposition, now mp in that
county, to vote $500, 900 for hard
surfaced roads that viii result IN
every town in the county getting al
least "A branch from the main lire
east and west across the county The
oil men are now paying In the neigh
borhood of $l2,UO0 per month In
gross production tax that m BACK
to the county for good roads. and
oil men. like others, believe the hard.
surfaced roads can be built from
this money without a cent Of dIrecI
[ axation being necessary.
such a h8rdsurfaced road would
make the development Of the west
ern Osage oil field a pleasure ID
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

Following Is price asked and closing bid
OF indppendent oil stock on the New York
curb SATURDAY as reported by Houston
Flble & Co.:
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-16

Following IL price rsked and closing bid
OF Standard OF stocks on the New York
curb saturday as reported by Houston
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-01-21
OAK GROVE

Prin. Owen was the speaker at the
regular midweek noon chapel on
Thursday. The service was held In
Sophia Bailey Memorial chapel Prin.
Owens subject was Ambition and he
explained it in an unusual and inter-
! esting manner.
Wednesday afternoon Coach Tay-
lor's men held, an exciting track meet
to which members of the school were
invited.
At the beginning of the term Mrs.
| owen, Dean of the girls offered a prize
to the girl who should write the finest
creed or symphony for her guidance
during the coming year. Each girl sub
united one and board of judges de-
clared the results excellent The prize
an imported copy Of Ruskin's Sesame
and Lilies" artistically bound in leath-
er, was awarded to Ethel Miller %, the
vice president of Y. w. c. A. The fol-
lowing girls were close contestants for
second mention: Eileen Clement 90
Florence Fuller '23, Greta Thomp.on
"a and Mary Wilcox 20
The seniors have put out a fine array
CT posters announcing their play "My
D.uther's Keeper which will be given
this Saturday evening. They feel sure
Aunt Betsey'' is going to make big
hit, and they say that the audience will
be taught three ways to propose 1t is
a lively drama with touch of pathos
and an abundance of fun that will ap-
peal to everyone.