davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1921-01-14
BALTIMORE PRODUCE,

BALTIMORE. Jan. Is. - Eggs
Western Maryland. Pennsylvania and
nearby. firsts, SEC: Eastern shore,
Maryland and Virginia, firsts, Sc;
Western COhiO). firsts. Sc; West
Virginia, firsts. SAC; Southern On.
c.. firsts, 63c.
Live pOultry-Chickens. young, by
boat. lb., 35a36c; by express. h..
35c; old roosters, lb.. zoe; old hens,
over 4 lbs, lb.. 35c; do. small, lb.,
3Oa32c; white Leghorn hens, Ib., 32a
33c; young White Leghorns, IL lbs.
Ib.. 32a33c.
Dressed poultry CscaIded, undrawn,
head and feet on); turkeys, choice
to fancy hens. ID. 55a56c: do. mix
cd hens and gObblers. lb, 53a54c:
do. poorly dressed. thin, ID, 4Oa45c:
chickens, straight, young, lb., asa
SIC: do. mixed. young and old, Ib.,
35a36c; ducks. choice, fat. lb., 34a35c:
geese choice, fat nearby, lb., 32a
35c: do, Southern and Western, Ib.,
2Sa29c.
Turkeys-Choice. hens. Ib.. 55c;
do. young gobbIers, Ib., 5Oa52c; thla,
crooked breast, lb., 35a4Oc; do, old
toms, lb., 45c.
Butter-Creamery. Western sepa-
rator. extras, 5R5sc; do, frsts. 55a
56c; Western Prints 4 Ib., extras.
5sa5sc; do. frsts, 56a57c; Western
prints, l lb., extras, 5Sa59c; do,
firsts, 56a57c; nearby creamery, ex-
tras, 4Sa5Oc; do, irsts, 46a47c; dairy
prints, extras, 2Sa30c; do; firsts, 25
a26c; Maryland, Pennsylvania and
virginia, store packed, firsts, Tia
1sc: rolls. West Virginia. extras, 19a
2Oc: Maryland and Pennsylvania, ex-
tras, 2za23c.
The Washington herald., 1921-01-14
COTTON EASIER
ON ACTIVE MART
January Reaches Good Price.
Pressure Noted at
Midday.

NEW YORK, Jan. 13.-An easier
feeling developed in cotton today.
following the establishment of new
high marks for the present recov-
cry during the forenoon. The set
back in futures from the top was
accompanied by rumOrs that a major
portion of the January short inter
est had been liQuidated.
The market was active and firm
early. with first prices up 20 to 40
points. January reaching 1Sc In the
face of heavy prefit-taking by Wall
Street the list was well sustained
after the start by trade buying and
further covering by shorts.
Atthe end of the first twenty min
utes dealings here were still active,
with later deliveries about 35 points
above the previous close.
There was a good deal of realizing
on the early rise, but after saggins
few points the list moved upward
again, March touching 1850. or AZ
points net higher. Toward midday
the market became more sensitive to
pressure. active months selling off
25 or 80 points for the best, only to
become steadier again. Heavy local
and Wall Street liquidation devel-
oped in the last hour and prices
dropped sharply Last quotations
showed a net loss of 10 to As points
Receipts of cotton in bales at
some of the leading points today
were: Galveston, 11.734: New Or
leans. 5,2S4; Savannah, 1882.
Following are tOday's quota tions:
The Washington herald., 1921-01-14

BALTIMORE. Jan. 13. Flour
Receipts, 2,226 bbls, including 1891
bbls for export.
Quotations for -four per bbl in
9S-lb sacks. carload lots.) Com
parative prices today: Winter pat
ent. S9.50a9.75; winter straight, $Sa
S.25; spring patent, s9.5Oa9.75;
spring straight, SS.75a9; hard win
ter patent, S9.50as.75; hard winter
straight, $S.75a9; rye -four, pure to
blend, S7.50aS.50; cornmeal, per 100
lbs, S2.50a2.75. City mills (9S-lb
sacks}-Winter patent, $10.5O; win
ter straight, S10.25; blended patent,
s1O.75; spring patent, $10.75.
n. B.-The above quotations on
city mills flour are jobbing prices.
Wheat-Receipts. 39,760 bus, viz:
10 bus afioat and $3.50 bus by car.
Shipments from elevators, 21,S19
bus. Stock in elevators, 3,0S3,44
bus.
Corn - Receipts, 1886 bus, viz:
126 bus afioat and 76,510 bus by
car. Shipments from elevators, 27,-
S64 bus. Stock in elevators, 525,445
bus.
Cob corn is in moderate supply
only, and the market firm on q
basis of s4.35a4.4O per bbl for prime
nearby yellow, on spot, with inquiry
fair on this basis.
Oats-Receipts, s,46S bus. Ship
ments from elevators, 4,259 bus.
Stock in elevators, 560,944 bus.
Domestic basis-No. white, 59c;
No. 3 white, .57hc. .-
Rye-Receipts, 46,132 bus. Ship
ments from elevators, 5S,915 bus.
Stock in elevators, 75s,e3S bus.
Closing prices yesterday: No. 2
Western export, s1.ssS per bu; bag
lots of nearby rye, as to quality,
s1 5naS e6
The Washington herald., 1921-01-14


striking of
total gold holdings the hands OF governmental controlled agencies
SINCE the Prewar period In the total holdings
teen countries showed
total gold OF S667oooooo This over
S3oooo or nearly The growth
reserves central institutions due chiefly the
n various governments to withdraw gold from general circulation
and to concentrate where could
issues and would also be available for international gold
BY the
case OF the United States under
control amounted only $o2oooo while present they
amount S2oo6oooooo This
to the large volume Of gold flowing into this country during
to pay tor increased England shows the
crease IN gold reserves which amounts to $68ooooOo Spain
the and Argentina also show largely increased holdings
Five OF the countries listed show loss gold
pared with These Italy Belgium, Germany,
and Canada The loss the of the
bank due largely the Germany early
of the
The loss OF SIooooooo in gold from the German Reichbank
1913 the total gold
Germany since the beginning Of the In the early days of the
Germany began gathering her gold the
tuton that by 1916 the total gold Rechsbank
approximately $6oooooooo compared with $270oooooo
the the
shipped pay supplies improve
the exchange position the
of gold large portion of which paid the
allies Tor food under the OF the Brussels
Copyright 1921 by The Washington HeraldD
The Washington herald., 1921-01-14
STATEWIDE SALES COMPANY d.
PLANNED BY OHIO FARMERS
Molding of Cooperative Associations Into
One Corporation Is Proposed.

tion would simply delay the process
of defiAton. o.
Increased Tranae Expected.
Advices to the car service COM
mittee Of the seven railways here
from heavy Cleveland shippers are
10 the effect that railways should
look for a gradual increase in ton
mage in sixty or ninety days, accord
ing to II. o. Dunkle, chairman OF the
committee and general agent OF the
Erie Railway here.
Shippers think that the worst Of
the readtustment period has passed
and business will soon be on the up
grade. In view Of this probable
general resumption. with its tax
upon the equipment OF the roads.
the carriers officials are making
plans to handle the volume of traffic
in better shape than they did last
spring.
With this purpose in view. the
roads have continued the car service
committee in existence.
The Cleveland Passenger Club.
composed OF railroad passenger
agents and other railway men inter
ested in passenger service, was
formed here this week. F. A. Hunt.
of the American Express Company
office here. is president.
The Washington herald., 1921-01-14
Special to the Business Section Of Wash
infton Herxn),

tnfton Heuh)s
CLEVELAND, Jan. 10. - Farmers
around, Cleveland are beginning to
fiirt with high finance. They have
several ambitious schemes that they
hope the next two or three years 10
ripen and harvest.
At the annual meeting OF the Guy
ahoga County farm bureau here this
week, Murray d. Lincoln. secretary
of the. Ohio Farm Bureau Fedora
tion, told Of the State federation's
project to form a holding company
Of. several million dollars capital,
which would absorb all the interior
or line elevators and livestock SELL
ing associations connected with the
farm bureau system.
Under present conditions, all the
oo-operatiyes scattered through the
State are working as individual
units. Under the new plan, each
would have its own organization of
neighborhood farmers to operate the
elevator or stock association. but
the ownership would be vested in
the big Statewide corporation. in
which all the little co-operatives
would own stock.
Cooperative Bank Proposed.
Another scheme under discussion
by the farmers around Cleveland is
that Of starting a farmers co-opera-
tive national bank here. The city
bankers. say its promoters, have not
given the farmer the attention they
ought. They point as argument TO
the fact that one-haIf of one per
cent of the paper discounted by the
Federal Reserve Bank here was
farmers paper. They point out that
if they started a national bank they
would have access to a greater use
of the Federal Reserve funds.
This would be the second coop
erative national bank n Cleveland,
the other being thu. Of the Brother
hood Of Locomotive Engineers.
The Ohio Wool Growers Assocta =
tion's wool pool in Columbus and
Wheeling is releasing some wool at
between 80 and 40 cents a pound
according to officials of the farm
bureau federation here. The pool
was formed last year to keep wool
at the high prices then prevailing
or at least to prevent il dropping to
IS cents a pound. a price at which
some sporadic buying has been done
in this State recently. The pool
succeeded in practically suspending
all trading in wool in this State dur
ing the fall.
Bankers of the Federal Reserve
district are reported to be critical OF
any effort on the part of the grow
ers, whether of tobacco or wool or
wheat. to bolster up prices on fall
ing market, believing that such ac-
The Washington herald., 1921-01-14
METAL MARKET.

NEW YORK, Jan. 13,-The fol-
lowing prices were quoted at the
New York Metal Exchange today:
Copper, spot, January, February,
|12%a13%; March, 12%p1314: mar
|ket quiet.
Tin (Straits shipments), De-
cember-January, January-February,
February-March and March-April,
'ssa39; market easy.
Lead, spot, January and February
5a5A; market firm.
Spelter (East st. Louis), spot.
January. February. March, April,
offered 555. Market quiet.
Bar silver, domestic, s91z ,cents,
unchangedi foreign, 65H cents, of
Il cent.
The Washington herald., 1921-01-14
Lou Level Reached
On Call MOney

NEW YORK. Jan. 13.-Money on
the Stock Exchange was loaned at
per cent on call, and outside has
been loaned at Az per cent and per
cent. feature of the market in
dicated the sharp contrast with con-
ditions recently prevailing was the
fact that some money loaned today
for to 4 months at s per cent.
This is the low level thus far.
The Washington herald., 1921-01-14

The new Northwest Savings
Bank located at Eighteenth street
and Columbia road, which will be
opened tomorrow morning; is a con-
spicuous addition to this rapidly
growing section of the city. II has
a frontage of 81 feet on Eighteenth
street and AZ feet on Columbia road.
The building is classic in design,
with a front of granite and lime
stone. The interior has been elabo-
rately treated in breche opal marble
and bronze with walls of Caenstone,
with the ceilings and ornaments in
old ivory.
In the north end of the room is To-
Gated the note teller's cage. Ad-
joining this and facing the main
entrance is the cashiers room, after
The Washington herald., 1921-01-14
GERMAN POTASH
CAN'T Be SHIPPED
TO U. 5. MARKETS
Native Yield Is Protected
By Order Refusing
Huns Export Right.
YANK PRODUCT BEST
Leaders in Industry Pleased
That Safety Is
Assured.

Leaders of the American fertilizer
industry have taken lively interest
in recent cables from Berlin max
ing announcement of the foiled ef-
fort to dump German potash on the
American market.
The Germans, it appears, were re-
fused permission to send their pot
ash representatives to the United
States last week because there is
an ample domestic supply of potash
to tide the American farmer safely
over the next planting season.
There is indeed an excess quantity
on hand in the fertilizer factories
and warehouses on the Atlantic
Coast. Until those stocks are con-
sumed American potash producers
are not likely to resume operations.
Wilbur W. Hubbard, of Chester
town, Nd, one of the leading fac
tors in the American fertilizing in
dustry. said yesterday:
Everything should be done to
protect our domestic potash pro-
lions of dollars and given much
thought and time to the develop
ment of the industry. Unless there
y such protection, they may not be
able to continue to produce any
considerable amount. The result
would be that the Germans would
make the American market a dump
ing-grOund. in order to increase
their own output, reduce their over
head and enable them to sell Ger
man farmers at a low price and
charge US a high one.
American Grade Best.
When our domestic potash was
first put on the market it was made
from salt brines and contained a
large percentage of borax, which in
the first instance was Injurious to
plant. Our people now have over
come that difficulty. having reduced
the content of boraX to less than
1 per cent and sO-called actual
potash is now the best grade
Imaginable
American fertilizer manufactur-
ers are going to do their utmost to
patrOnize domestic potash pro-
duCers. mainly because of the
methods of the grasping German
potash combine before the war
The Germans violated every condi-
tiOn of their contract by levying
export duties, retaining refunds
agreed to and undertaking. Neither
have we forgotten the lavishly-
financed propaganda carried on by
the German potash barons prior to
1914 for the purpose of inducing the
use of far larger amounts of potash
than were actually required for
artificial fertiIizing purposes.
Worked Hardship.
The Germans thus worked a
great injustice not only to the
American manufacturer in requiring
them to stock up on that product,
but also imposed an arbitrary bur-
den on the American farmer who
had to pay for it. The fact is. the
Germans often adyocted such large
percentages of potash that the
chlorine in the potash salts often
would injure the crops.
The American fertilizer and the
American farmer were delighted
that if any more imported potash
was required than could be supplied
here at home. Alsace Lorraine, a
former important source of German
supply, was now French. We hear.
however. that the Germans are trv-
ing to get hold of the Alsace potash
mines, which were among the best
potash sources Germany had, claim
ing that the French do not under
stand the business"
The Washington herald., 1921-01-14
CHICAGO LIVESTOCK.

CHICAGO. Jan. I3.-Hogs-MostIy
35 to 40 cents higher than yester-
days average. Big packers doing
very little, but most hogs out OF first
hands. Average cost Wednesday,
$9.2l: weight 236.
Cattle-Beef steers, she stock and
bulls steady to higher; spots. 25
cents up; veal calves mostly steady:
heavy calves dull; stockers and
feeders. steady to higher
Sheep-Au classes very slow,
about steady. Lamb top, Sl1.9O:
good ewes easy $5.75; handy
weight held higher
The Washington herald., 1921-01-14

which is the receiving teller, paying
teller and bookkeeper's rooms and
the savings department.
In the east end of the building is
the presidents room. Adjoining
this on the north is a spacious safe
ty deposit department with coupon
booths, a large and commodious
vault to accommodate 1900 safety
deposit boxes, in addition to the
money vault with a burglar-proof.
time-locked door.
A floral souvenir will be present
ed those visiting the new building
on opening day.
B. Stanley Simmons. prominent
local architect. designed both the
interior and exterior of the new in
stitution; William P. Lipscomb and
Company were the builders.
The Washington herald., 1921-01-14
NEW YORK PRODUCE.

NEW YORK. Jan. 13-Butter
market firm. Creamery frsts, 531z
a57c; creamery frsts. 44a55c; cream
cry higher scoring, 54ha5sc; State
dairy tubs, 2Oa52c.
Cheese market firm. State, whole
milk specials, 24lza2Skc; whole
milk fancy, 23a25hc; whole milk
lower grades. 2Oa224c Wisconsin,
whole milk fancy young Americas,
27A a29c. State, skim specials, lSa
20c; skins choice, 15a17kc; skins
fair to good, 12a14I2c; skins lower
grades, 10c.
Eggs market firm. Nearby white
fancy. 76a77c; nearby brown fancy,
73a74c; extra, 72c; firsts. 6Sa69c.
The Washington herald., 1921-01-14
LEADING COUNTRIES GOLD
RESERVES ARE SHOWN
That of the United States Has Grown to Over
$4,000, ,000, ,000-German Loss.

The Federal Reserve Board recently has published
the total of gold held by the banks
by the of the Leading of the world
lowing table has been compiled from this and shows
and each of the four last for
portsnt countries.
CENTRAL GOLD RESERVES IN PRINCIPAL COUNTRIES.
millions of dollars)
The Washington herald., 1921-01-14

Best buying was credited to cash
houses.
Rye declined to 7-Sc and bar
ley 1-2 cent
Following are tOday's quotations on grain
and provisions:
The Washington herald., 1921-01-14
BALTIMORE GRAIN.

(auotations furnished BY W. B. Hibbs 1
Co. Members New York Cotton Exchange
The Washington herald., 1921-01-14
FINANCIAL STATEMENTS. FINANCIAL STATEMENTS.
REPORT OF THE CONDITION
LIBERTY NATIONAL BANK
FINANCIAL STATEMENTS.

in the District Columbia the close OF business
December .. 1890.
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1921-05-09
Motors, SteelS, Tires
Drop at ". Y. Opening

the New
this for
showed OF
~
Rails
49,"
nsysn IN Asphalt Teh unohangsd Central leather %
Gulf % off American Wooden Reading 7b off
um
Paeiic fbh, unchanged. Atlantic i0sn.
continued during the forenoon Rails held up fairly ws VIII
per cent with al 9 per cent
point n 1 = -
Motors eentinnd PisrcsArrow sold 5h and the
dividsnds for ths
included
Raj WITH
Ter sold at 100 American Writing Paper
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1921-05-09
GRAIN MARKET
IS IRREGULAR

CHICAGO. May s.-Grsin prices
were irregular at the close OF the
Chicago Board Of Trade today. Scat
tered ~ Hing at the Outset caused the
market 10 open generally lower. but
rallies were made In most lines be-
fore the close
Provisions were irregular. May
wheat opened at ii.t0 off @. and
wheat opened Unchanged at fi.if ana
closed OFF nc
May corn started unchanged At
tshc and closed up NC. July corn
was off u G at the opening OF 81 - g.
and ciored &c higher. September
corn opened at tskc off &c. and
closed y G higher.
May oats opened AT sbzc. off sc.
and advanced - 6 at the close. July
corn opened Off u c at ssc and closed
nc higher September oats opened
At 1ssc, of &c. and advanced NC
at the close.
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1921-05-09
STRAWBERRIES
SCARCE HERE
Otherwise Market Is Well
Supplied

The Seattle Wholesale produce mar
Ike, was well supplied with seasona-
bio produce Monday. Only straw
berries wers scarce. A car OF the
berries quickly sold out at 81 TO s4zs
n crate
One car each of Crystal War
onions. new Garnet potatoes. cabbage
and tomatoes was among Mondays
arrivals.
Sacramento lettuce wss easier AZ
some houses at 80 10 t5.zt a crate
Cabbage was half n cent hisho
Monday at ~ cents a pound
Green peas were selling al IL TO y
cents n pound.
The butter market was STEADY at -
cents a pound for city creamery
bricks
Tho egg market continued weak
Monday. tho the demand had slightly
Increased All dairy quotations were
steady.
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1921-05-09
Vessels in Port at Seattle

Smith Cove Tcrminal--pier A, str wheat
land Montana; Pier II. str katori
Maru.
orea, northern TormlnAi--str Toyama
Maru.
Grand Trunk Pacific TcrminAi--str city
OF Seattle.
pier str Tippecanoc
Pier Str West Jappa.
Pier Str Nsldex. str Alameda. str JEFF
Pier A~-s,r Admiral Rcdmnn. str Ad-
mirai Dewey.
pier n--str Spokane. str Admiral sehlcy
Seattle shipbuilding q Dry Dock Co.
Motorship anvil
Union Pacific Terminai--str Texan.
United states Shipping Board Moorings-
Str westward Ito. str Icosium. str Yo-
semitic. str Eastern Glen.
AIbers Bros Milling Co. Dock---str Raj.
nier.
Alaska Steamship MoorinG--str Victoria,
str ekagway, str Santa Ana
Stacy Street Terminal--u burnside.
Spokane street Tcrmnal-Str Colin H.
Livingstone. motorship Libby Maine.
Todd Dry pocks--str Forest King. str
West uartIand. str Santa Alicia. str
H. n. fovcjoy. nchr Admiral Mayo.
Puget Sound Bridge a Dredging Co..
Str Patterson.
Ames YArd--Str Roosevelt
Hcffernsn Dock-str ketchikan. str Cor
dosa.
Boiocm Canal Lumber co.--schr Philip
pine.
Lake union---schr Levi w. ostrander
winaiow Marine Observation-Disclosures
Anne Comyr. barge Grlffson. barge
uenry Willard str Montieelio
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1921-05-09
Portland Market Status

PORTLAND. May e.--cattie-Receipts.
$50 Market rs a soc higher. Rest steers,
ss.b0ms.7b. common TO fair steers. sFH
1915. choice cows and heifcrs se.boaf
ssss' canners. ss1t5o. bulls. ss.So3
$3.50; calves. sSali
Hogs--Rcccipts. 3ss. Market steady.
Prime mixed. s9..sae.sS: heavies. Sso
s so; pigs. 81. 20 u9.7s.
shecp--Receipts, i.bts. Market steady.
Prime iambs. 81 a 7, so: Gull lambs IS. SOC
So, yesrliugs. ts.so o $50; wothers, y4gt;
ewes. siIt2s.
Hens-lT a ssc ID.
EgEs-soc dos
Chccse-ssc Id.
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1921-05-09
EXTREME PEssIMIsTs SEE
SEVERAL had YEARS

Some Standard on executives think
ruadJuatmont win not be completed
for another five months or even
year. Extreme pesaimis,s believe
that business for several years will be
like tho teeth Of n saw. with accumu'
lated demand for necessities occasion
ally bringing revival for several
months Average. however. would
not be- far below normal.
STANDARD OIL 81 Indiana has cut
gasoline three 20 four cents n gallon
In the Middle West Similar cuts
coming In East. Caaollne In Chicago
whoissaling at 20 cents gallon.
loves, In four ycarA
Flood Of gold. pouring into the
United States. swnnps New York as
.ay office. tho II can handle sit. 600.
900 a day. since most countries have
export embargo on gold. the flood u
believed 20 have its origin In Russia
WIN make money easier.
Number Of commercial failures on
down grade. but total liabilities siiil
tend upward.
British conrois. before the war con-
aldorcd barometer OF securities prices.
are on up grade. but lowest since
1877
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1921-05-09
CANADIAN BACON HOO

PRINCE ALBERT. Sask.. May 3.
Canadian farmers were heartened
by the recent pronounccmcnt OF Chi.
caEo packers that n strong market
tendency has developed since the
war toward the bacon type of hog.
This typo has been distinctly the
Canadian hog for the last so years.
On the other hand. tho lard hog Is
the most widely bred in the United
States.
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1921-05-09
TRADE TABIOIDS FROM
MANY PARTS

Pennsylvania and Virginia forn.
dry Iron In spotted onsna advances
to SGT a ton. Makers trying 10 con.
vince backward buyers that bottom
prices have been reached
business IN better shape around
los Angeles than anywhere eisa-
Lumber outlook brighter on Pacific
coast
Onty q fourth Of Great Lakes
frcigsters win work this season. iss
operating out Of Toledo now laid up
llndeflnlteiy.
Wooden ana worsted wood~. for fan
delivery. In v~ry good shape. espe
esaiiy womcn's wear.
Steel industry. n 10 pev csnt ca,
paeisy. Revived auto industry slim
uiates finished stecl sales. particu.
larry shccta
Number Of employed In New FORK
IL per cent Srss than year ago. Aver.
age wage down II per cent
Crude oil production Ereasert In
history. March output exceeded Oc-
toh~r. 1880. previous high record.
Japan: sink industry improvea
cotton trade gets worse.
Revival Of building awaits lower
costa. Prices no far have fallen
average Of only nth. says c. 4.
Taylor. financial editor Of the Arch.
itecturai Forum and Builders Jour.
nal
Sales OF nations 81 leading depart.
ment stores only per cent iess than
year ago. despite lower prioos- In.
dictates vast pcntup public purchas
Ing power.
In last six pears. woriTs produc.
ton OF cotton has been 20 low that.
compared with pre.war normal. a
whole years production has been
lost
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1921-05-09
3 REASONS
FOR EARLY
PROSPERITY
The Stars Weekly Review
OF Nationwide Business
Conditions
ny ALBERT APPLE

One year ago this week. wholesale
prices broke and business depression
began.
A poil Of the more optimistic bank.
ors and manufacturers discioses a
growing belief that business has
reached low water mark and In now
on the up grade. because
oNE-Previous business depres
sions have always run their course In
from nine 20 II months
Two--The stock market apparent
iy is on a definite tho very slow up
ward movement. which began April
IL
THREE Pradvtrcct reports. for
the country over. "a faster pace In
output Of shoes. leather. bituminous
coal. crude petroleum. automobiles
and tires. decraan. In the number
~ idle cars and reports OF better
loadingr on the railways generally.
and AN improved tone In iron and
steel