davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-03-05
FIGHT WAGE CUT IN
PACKING INDUSTRY
Union Leaders Announce 20O,-
900 Will Resist Move to
Restore 10 Hour Day.
CONFERENCE is CALLED
National Organization TO Start
Battle to Force Terms Of
War Time Pact.
CONFERENCE is CALLED

CHICAGO, March 4.-Dcciaring that
the 100000 packing house employees
throughout the country would resist to
the last ditch reduction in wages and
return to the ten hour working day. q
formal call was issued here to-day for
a national conference of employees at
Omaha on March 9 and 10.
The call. which was issued BY Dennis
Lane of the Amalgamated Meat Cutters
and Butcher Workmen's Union, de-
cIared that the Omaha conference would
take such action as might be necessary
to protect the interests of the workers in
view of the recent withdrawal by the
packers from the war time arbitra ton
agreement"
This agreement, designed TO eliminate
the danger of strikes in the packing In
dustry, was cancelled by the packers on
February 26, when Federal Judge
Samuel A. Alschuler was notified that
there would be no further use for his
services as arbitrator.
This action was taken by attorneys
for the packers in a letter to the Secre-
tary of Agriculture, in which they said
that inasmuch as the war has been over
two years and the purposes OF the agree
ment had been secured there was no
further need for 1t.
The arbitration agreement resulted
from differences between the packers
and their employees in the latter part
OF 1917, when a strike was threatened
1t provided that grievances which the
packers and the employees could not
adjust should be referred to the United
States arbiter.
Under the agreement Judge Alschuler
granted the workers q wage increase 81
SIS, 100000 a year. the eight hour basic
day and other advantages.
The New York herald., 1921-03-05
FOREIGN BONDS

5000 6 OF Berg ss... ss, sa31 s$,y aa, sass
10000 Sac Paulo S5.. oa.a ssas5s esaa5sa
1000 Swedish 6s.... Tvs ists 20
10000 Vienna 4iss.... 2ss ~ -
Total sales stocks, $50, 500 shares.
Total sales bonds. sS22,ooo par VAiue'
The New York herald., 1921-03-05
new YORK PRICES.

wHEAT-So. . hard. sl.oist; 30 Mani
lobas, s2.0t, and Nc. mixed durum, si.s2A
=. !. & track New York % arrive.
CORS-No. . Fellow. Saslc.. No. > white.
oo'ze.. aud No. missed. s9i4c., Z. !. +, New
Yor!; ten days shipment.
OATS-No. white, asi.c so . white.
57iac. 70 5Sc. 80. 2 white. 5GHc 70 tic.
40. white. 54iac. 10 55c. fancy clipped
white, Gle; ordinary clipped white. 1ac all
elevator.
RyE-No. Western, si.73t., 7. !. b.. Nc-.
York, and Sl.69ss e. 4 7. domestic.
BARIt1--Fccdlng, s0dSGc., and mating.
cu,faIc. C. 1. T. New York
BUCKwnEAT-Mlilins. $2.Coa2d5 i iOo
lbs.
HAy-Ho. I. si.45al.55; so. .. Al .;5oti Is
No. =. fi.2Oui,S0 shipping, sial1j.
STRAW-No. | ryc, siSmla ton
WHEAT-lnciuding flour exports Tor Tie
week. according 70 Bradsfrccrs, aggregate
T.5is,sil bushels, against 4,4GG,G74 tho pre-
vious week ana 3.0iI .2s5 lart year; rinco
July 7. o.702 100 buaheip against 104, ,7so. .sa
iast season.
COHS-ixpofts for the weok g.goi.sil
ngainst i.i1o.i2i 3 week aEo and 21s.i"5 laat
year; since July I, i7,5o2,oil. against
2,ip4 5lS last year.
The New York herald., 1921-03-05
TWO YEARS FOR BANK THEFT
Clerk, Married, Wro Took $4,000,
Went to Palm Beach with n Girl.

Arthur Wagner, who confessed to
stealing Liberty bonds valued at $500
from the Irving National Bank. where
he was employed as a clerk. was sen
fenced yesterday TO two years In the
Federal penitentiary in Atlanta BY Fed
eral Julius VI. Mayer.
After stealing the securities last Oeto-
Der. Wagner, accompanied by woman
companion. went 70 Palm Beach under
the name OF Mr.. and Mrs. Harding.
Here he purchased cottage. naming 4
1--WE Should Worry" On Thanksgiving
Day Wagner returned TO his home ~
The Bronx, and after telling his wife ..
his trip South, communicated with the
bank authorities. He then surrendered
himself.
The New York herald., 1921-03-05
PHILADELPHIA.
BONDs.
BALTIMORE,

sSSs SSs ts t% ais e E. ss ss. s ss Sc. So. ss ss
The New York herald., 1921-03-05
N. Y. C. MEN TO FIGHT.
sixteen Brotherboods Prepare 10
Resist Wage Cut.

Officials of the sixteen brotherhoods
OF the New York Central Railroad will
meet in this city next Tuesday to for
mulate plans for fighting the proposed
wage reductions lor unslsillcd laborers
which arc expected to go into effect
April /.
General chairmen or shopmen, freight
handlers, steamship clerks and other
union organizations of the Lackawanna
system at a conference yesterday at the
Hotel Marlborough decided TO act Jointly
in opposing the reduction, but decided to
accept the invitation of V. NJ. Rine,
vicc-pres,dent OF the road, to confer with
him on wage schedules on March 10.
The New York herald., 1921-03-05
cus--23d Ward Bank. ........ !
SATISFIED JUDGMENTS.
1856.

The first name IL that Of the debtor, ghe
second tnnt OF the creditor and date wa sn
Judgment was filed
MANHATTAN.
The New York herald., 1921-03-05
MILLER's, OUTLOOK.

Special Despatch 70 TIIr NEW yosK lfEnALs.
CHICAGO, March According to the
Modern Miller, insect activity Is noted
IN numerous sections OF the winter
wheat belt. but little actual damage has
been claimed. Weather conditions have
favored the pests. but development OF
the pasasites Is retarded. Soil is dry
ing out in sections of the Southwest and
rain or SNOW would be welcome. 30
serious condition has developed. Aban-
doned acreage promises to be less than
Il was o year ago Reports OF alternate!
freezing and thawing are confined tol
small areas. The appearance OF the
plant In Ohio and Indiana - spotted.
There are many comments on the small
ness or tho growth"
The New York herald., 1921-03-05
PROPOSALS.
REQUEST FOR BIDS.
S.rs.,t fsnnfr frnnt M ~

serial OntrHct NO.
The Delaware, JiackawaEna and Western
Railroad Company, pursuant 70 tie order OF
the Interstate Commerce Commission. dated
October 9Th, 1919. E;x Parte No. 81. and amends
n,ents thereto, gives notice that It viii re-
ceiye bids for Fabricated Steel Plate WORK
described below. according to plans and
specifications on file In office mentioned
below:
Bridge no. iS.51 Washington. \. T.
Estimated Weight TO tons
Grade Elimination Cortland. n. V.
Estimated Weight G4 tons
Bridge No. .20. ~ Coventry. y. y
lGsiimat tel Weight 10 tons
Bridge No. a.3.16 Shcrburn, n. Y.
Estimated Weight 10l tons
Bridge No. 3aO.S0 at Dclayan Ave,
East Buffalo. ~. y.
Estimated Weight 1915 tons
Point OF dcliyery-f. o. !. points mentioned
above
Time OF dciiyery-During 1921 rs required.
Terms OF paymcnt-rc be arranged.
Bids must be submitted 10 q. 4. Hubball,
Purchasing Agent. 1T Ills office. 20 West St.,
n. i. c., or before noon Of March 9tii.
lT21. and VIII be received and opened by
him at said office
Bids to be acccp.cd must comply In all
spects to the order above mentioned.
Tho right l. reserved 10 reject nny and all
bids.
The New York herald., 1921-03-05
WANT TARIFF ON GRAINS.

MADRID. March 4.--Senatorial repre-
sentatiyes of agricultural interests have
approved the document asking that GUS
toms duties on foreign grain be estab-
lished. II win be presented to the Cow
ornlnent Twenty Senators and afty-
nine Donutles hnYe signed u.
The New York herald., 1921-03-05
STATISTICS.
COTTONSEED OIL.
METALS.

On the New York Metal Exchange
yesterday Tin was quiet. standard oeing
quoted as 27029. Straits tin as 2s.75D
s9.75, Straits shipments as 2sd30. and
90 per cent tin 27@27.5o. Copper was
dull; spot. March and April, 1850 asked
Lead was firm; New York spot, 40
and East st. Louis. asked. Zinc was
quiet; New York spot, $40, and East st.
Louis spot. z.65@4.S5.
The New York herald., 1921-03-05
STEKL STOCKS.
GRAIN.

CHICAGO. March 4.--lncreased conh-
dence IN values showed IN to-day's wheat
mari:et. largely on account Of crop con-
diticns and export business, but more Of
less because OF optimism based on Presi-
dent Hardings inaugural speech. The
market closed at ~ n &c. net higher
With March ct sl.7SM1.7Sl4 and May
al si.Cs u Q1.63I. Corn gained * % y
q &c, and oats - q 9sc. IN provisions
there was a setback Of @15c,
At first the wheat market appeared 10
be In hesitating mood, and some
traders were inclined to the selling side
as result OF tho failure OF the emer-
gcncy tariff bill. For the most part
however, the pit regarded the tariff
situation a. having been discounted In
advance. Selling was not pressed, and,
with the receipt OF green bug adviccn
backed hy buying orders, tho market
turned upward soon. especially as e2-
portcrs seemed to be renewing thor ac-
tivity IN Kansas City. Moderate fur
thcr gains were scored after tho sub
stance OF President Harding's address
became known. Reactions which took
place later were apparently OF q
transient GOT. due to profit taking.
Corn ane oats sympathized with
wheats strength. Country offerings
were light.
Lower quotations on hogs weakened
provisions.
Export sales OF cash grains IN local
markets were confined to 100000 BUSH
els OF corn. There was some inquiry for
rye, but no reports OF any worked. Kan
sas wired that Il had sold $50. 900 bush-
els OF wheat TO foreign interests, but
did not disclose who purcha sed them.
Export and domestic demand for -four
continues dull. In some quarters It
was thought that the veto OF the Ford
ncy tariff bill might check the pressure
of Canadian -four. as Canadian mills
have been selling for quick shipment In
The New York herald., 1921-03-05
THE DELAWARE Z HUDSON CoMrANx.

quarterly dividend Of TWO AND ONE
QUARTER (aAeo) PER GENT, on the cap
irai stock Of this Company WIN be paid r.;
the office OF the Company, ~ Nassau Street.
in this city, or and after Monday, March y.
1921 TO Stockholders OF record ct close Of
business to-day.
BY order OF the Board OF ltanagers.
w. II. DAVIES, Treasurer
The New York herald., 1921-03-05
Business Troubles
PETITIONS N BANKRUPTCY.

The following petitions In bankruptcy we're
filed yesterday in the United States District
JACOB II. BLANK, grocer. III Monroe
street, involuntary. on behalf Of three
sssdi.or. alabil.iss given as 5000 and
amounts claimed are: Morris Cioldstein.
$500; Isldor Rosenberg. st50: Harry Her
man. 5000. u. J. Wittstein is attorney for
JOSEPH. zWillG. drug clerk. 1859 Manson
avenue, voluntary, who places his liabilities
az $l,I2O, all unsecured claims and as
sets; J. Emanuel Ankers Is attorney for
MORRIS FRIEDBERG. bakery and rcstau-
rant, 2266 Broadway, Involuntary, on behalf
OF three creditors. Petitionlns creditors
and amounts claimed are: Emil Fleischl s
Son, SIl0; Seeman Bros, SLIT: Reiter &
Botterman, S63. Harry L.. Horwitz Is at
torney for the petitioners.
ALICIA L. NEARY, ao77 Bainbridse avenue.
Bronx. voluntary, who places her liabili-
ties at S1.0Ti all unsecured claims and no
assets. Thomas q. Price is attorney for
the bankrupt.
AUGUST GsRLEIT. mechanic, 1929 College
avenue, Bronx voluntary, who places his
liabilities at s1i.I1O. all unsecured claims
and assets M S. Schector IS attorney
for the bankrupt.
SCHEDULES IN BANKRUPTCY
The following schedules in bankruptcy we're
filed Yesterday In the United States District
Court
LOUIS sLAvoTzKY. against whom a petit
tion was filed January 20 show liabilities
OF S12,33a, all unsecured claims. and as
sets OF S5.Gsa. OF which $..i32 is cash in
hand. SS07 debts due open accounts.
and 81, ,1S3 property in lcversion. remainder.
trust, Sc. Sobel Brand are attorneys
for the bankrupt
LOUIS POLLOCK. against whom q petition
was filed December II. 1920, show liabili.
ties of $2,5T1, ell unsecured claims and no
assets Henry Hirschbers is attorney for
WINNER HOSIERY MILLS. nc, hosiery
sa snd undersar s ear % Worth 15ee slo. s lr
secured claims. and SI761 unsecured
claims. and assets OF Saa,3JS. OF which
So i30 represents debts due on open ac-
counts, and s9iS machinery. tools. &C., and
$3.50 stock In trade. Blumenstlel i
Blumenstiel are attorneys for the bankrupt
LENENSON 4 PRGNZLAU. INC, against
whom a petition was filed September l6.
1920. show liabilities OF S3l .I13. all unse.
cured claims, and assets of 81 100, OF
which 5000 Is stock In trade, and S13.o00
debts due open accounts. Goldstein
Goldsten are attorneys for the bankrupt.
RECEIVERS IN BANKRUPTCY.
Tho following receivers III bankruptcy were
appointed yesterday In tho United States
ni.trct Court by Judge Manton;
JOSEPH G. CLYNN, general merchandise,
1924 Broadway, Max Rocl;more, temporary
receiver, with bond of $500.
UNION RAIN COAT COMPANY, INC, rain
coats, 13 University place, William
C;lacl:en. temporary receiver, with a bond
of $500.
JACOB H. BANK. grocer. III Monroe street;
Harry 5. pattcn, temporary receiver, with
a bond OF $500.
JACOB BLUMENTHAL electric lighting fix
lures, .96 Grand street; Thomas IA. Mat.
teig, Jr., temporary receiver. with q bond
OF $500.
The New York herald., 1921-03-05
Fire Record

A. ~. Loss.
i9:iO-31a seventh aNenuc, n. Z G.
Clothing %. and others. Considerably
~ :i0-i322 Fifth avenue, Ludwig
Tranbc ............,........ ..%ci.
5:@d-10 ana 81 Second street. un-
Known ACKNOWLEDGEMENTS. .tscfls
:UO-.l Wcst T'iiriy-scventn street,
Kinblc Electric Comm. Unknoy
0:if-Chatham . rquerc and Mott
street. faird RycHuc car. Unknown
a;s5--3ad 1a1t i"ith rtrcst. Aictia .fI
u. M.
1900 Fourth avenue and seventh
siroct automobile. Blue Tai
20. .ts.t...t.........s FrifliNE
l@l0-iGs fast l41th street. The
lironx, Joseph Downlng. Unknown
i":i0-iiT Wcst i3sti street, J.
Pctcrmnn .t..........,...... Cnl.noN
~ :io--Ioa East Eleventh. atrcet. un- ~
known, ,.tt....4 4.....4..s....N No dafnhse
i0--23s William street, New York
4.i0--tkTJ I'd av.. Charles Schmitt .UnkaoNn
J:f0-Eitcrsidc Drive, iGlst aud 1921
sts. vacant lot. ot.....t.4......... None
$500 Hamilton ct; lranh Loser. Unknown
7io-eTa Broome ST.; lrNing Wool
Company ...4.t...44s.st.s.#.,.T .Trifl.
The New York herald., 1921-03-05
AMERICAN cAS 60.

4 quarterly dividend or one and tnrec-
quarters per cent has been declared OH tho
Preferred Stock Of this Company. nayab. ;
April lst. 1921. to Stockholders of record q.
the close of business March 10th, 1921
Transfer Books win remain open. Checks
mailed. Il. H. ISMON,
sccrpYarv G Trpas,lrer
The New York herald., 1921-03-05

HoLDERS-SoAPITOR CO., INC.
Notice is hereby given that the annual
meeting OF the stockholders of the Soapitor
Co.. Inc. VIII be held at the office OF tho
Company, 1Ji West 14th ST.. IN the Borough
OF Manhattan, City OF Ne" York. on tlrs
10th day OF March, 1921, at +. M. for thu
purpose OF electing Board of Directors
for the ensuing year and for the transaction
OF such other business as may legally come
before such meeting.
GEORGE Is. KAPLAN. Secretary.
MARCH 1ST, 1920
The New York herald., 1921-03-05
ELECTIONS AND MEETINGS.
rnE TEXAS AND pACIFIC RAIi.wA

Rfiis itSAAS AM GNs fIN hEtitsN ~ W.
Notice Ia hereby given that the Annual
Meeting OF the Stockholders OF The Texas
end Pacific Railway Company viii be held
way, New YORK City. on Wednesday, Tie
18th dsy OF March. 1D.I at twelve o'ciocls
noon for the transaction OF such business
as may come before said meeting, including
the election or Directors. The TRANSFER
Dooiss VIII be closed Thursday, the 10th
day OF March, 1921, at 3 o'clock r. NJ.
and rcopeued on Thursday. the 18th day OF
March, 1924, at 10 o'clock A. NJ.
c. w. VEITCH, Secretary.
New York, March ., 1921.
The New York herald., 1921-03-05
INTERIOR RECEIPTS.
rIOUR.

MINNIgAPoLfs, March 4 Flour un.
changed TO aOc. higher: IN carload iotE. fam.
~ ID. cotton sacks shipments, 34,5.t bbls
Bran, .@5.
The New York herald., 1921-03-05

order to move -four before there was
any chance OF the bill becoming 2 law.
CHICAGO PRICES
The New York herald., 1921-03-05
Wednes-
NEW ORLEANS.

NEW ORLEANS.
NEW ORLEANS, March 4.-The cotton
market closed steady at net decline of 8 10
4 points Closing bid: March, 1896: May,
1i.J1: July, il.60; October. 12.14: Decem-
SOUTHERN SPOT.
Galveston steady, unchanged. at toc.:
saies, 1850 bales. New Orleans quiet, ur-
changed. at t1c.: sales, 426 bales. Mobile
nominal. unchanged, at 10.50c.: sales. nil.
Savannah quiet. 225 lower. at 11.o5c.; sales,
315 bales. Norfolk quiet, % lower, at
1l.25c.; sales, SIG bales. Augusta steady.
unchanged, at 10.50c.: sales. 10 bales. Mem
pills steady, unchanged, at 12c. sales. 1000
bales. Houston steady, unchanged, at
1o.TJc.; sales, 3,6T0 bales. Little Rock
auiet, unchanged, at 11.5oc,: sales, LAOS
bales. Montgomery firm. unchanged, at
1o.25c.: sales. nil. Fort Worth steady, un-
changed, at 10000; sales, $50 bales.
LIVERPOOL.
Spot cotton quiet at points advance;
niddling, 6.5ed. Sales 5000; American,
1000. Imports nil. Tenders, new docket.
1000 bales. Futures opened steady at IA
70 u points advance; closed steady at a net
advance OF 23 to IS points. March, 1.2fd.
May. 7.45d.; July, 7.63d.: October, 1921. .
December, T.SSd.; January, 7.91d. Manches-
ter yarns aud cloths, dull.
LlVERl'OOL, March A.-Wcelsly cotton sta
ttstica: Imports $1,000 bales. including
1000 American: stock i.13I.oO0, American
$1,000: forwarded 30. oOo American as 1000;
exports 5000. American 5000 sales 70 900,
American 90, 900. Quantity afoat Ell kinds
10000; American. 6i 900.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
GUFFEY QUITS AS HEAD
OF ATLANTIC GULF OIL
Franklin D. Mooney Chosen
as Successor.

Joseph F. Guffey. president of the
Atlantic Gulf Oil Corporation, a sub
sidiary of the Atlantic Gulf and West
Indies Steamship Lines, has resigned
his Office to be succeeded by Franklin
D. Mooney. This is the second resigna-
ton Of a high official in the Atlantic
Gulf group since the time. few weeks
ago, when the steamship company found
itself in need of new funds and nego-
tiated unsuccessfully with some bank
ing institutions for the financing of its
needs. The first resignation was that
of A. r. Nicol, who was president of the
parent company. Franklin ID. Mooney
was also elected to succeed Mr.. Nicol
Besides President Mooney. the follow
ing officers were elected: w. II. Zahn-
User and Samuel a. Megeagh. vice-presi-
dents; r. c. McBain, treasurer and as
sistant secretary: G.. n. Wonacott. secre-
tary and assistant treasurer: F.. d.
Mooney. II. F., Rogers, r. +. Hoyt. w.
II. Zahniser and A. n. Gibson, men,
bers of the executive committee.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
THE WESTERN PACIFIC
nAH RnAn COMPANY

I-pUESUANT TO THE REGULATIONS
OF the Interstate Commerce Coinmissaon'
In Docket Ex Parte No. 81. as amended
October :, 1920, THE WESTERN PACIFIC
RAILROAD COMPANY hereby requests bids
for tho purchase from said company OF
81 $50 900 face amount OF its First Mortgage
Five Per Cent. Gold Bonds, to be issued
under and secured by It's First Mortsa ,ss
western Pacific Railroad specifications No.
Bids must be submitted 70 the under
signed al hia office. No. 81 Wall stree,.
civ 8, New York. New York. before twelve
O'Clock noon. Eastern Standard Time. MAJ
IA 1877 aud VIII be received and oponec
by the undersigned at raid office, IS pro-
yided II tho regulations hereinabove men,
toned. Bids received after that time VIII
not be co7sidered ,,...
Bids must be prepared and submitted
on the forms complying With said fegna-
tons copies OF which forms VIII De luE-
nIshed by the undersigned on request.
4-The successful bidder will be required
10 enter into and eSocute the proposed con-
tract. Western Paafio Railroad coliraot
No 73a. -
s-Tne right is reserved to reject any and
s-Each bidder IS required 70 tender Win
ire MA a bond IN the penal sum OF 5000
with sufficient surety or sursties conditioned
unor the faithful and prompt performances
of me terms 81 said contract
7--Specifications. form OF proposals apo
forn, n, said contract are now on Tile n
Room $50, Mills Building. San Francisco.
california. and also At the oftioe 81 tne
Undersigned, and are subject 70 eSannlna-
lion. free OF charge. by persons doslrins -
and copies thereof will be furnlsnsa ana
ALVIN w. KREcH.
,.rot-rnan 81 the Board Of Directors OF tn.
Western Pacific Railroad Company, 81
wall street. New York. y. 4.
Dated April p. 1921.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
OTIS ELEVATOR STOCK
DIVIDEND so PER CENT.
Common Holders Benefit
From Directors Action.

Directors of the Otis Elevator Com
pany yesterday declared stock dividend
of so per cent. on the common stock,
payable July to stock of record June
10. About = yslr ago the company au-
thorized an incvcase in It's common cap
italization from $10.000.o00 to SIS. 00o,-
900. and since that time stock dividend
of from 20 TO so per cent. has been con-
fd sn4ly expected by stockholders.
Earnings reported for 1920 totalled
&c,SS0,277 after all charges, deprecia-
ton. taxes. &c. This was equivalent to
$26.25 a share on the outstanding COM
mon stock. Earnings after charges, re-
pairs and maintenance totalled s4,645.-
749 and interest charges totalled $115.-
472. Federal taxes were estimated at
$3.50. 900, while 100000 was set aside
as a pension fund reserve. After set
ting aside an additional reserve for
working capital and paying dividends on
both common and preferred stocks the
surplus for the year was 100000
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
MUST HOLD TRADE
LEAD, SAYS FARRELL
L. s. Steel's President Tells
Foreign Trade Council We
Can't Afford to Lag.

CLEVELAND May 4.-!rhe predominant
ing note sounded at the opening sessions
';.c-day of the eighth annual convention OF
tho National Foreign Trade Council was
the adoption OF an active policy of CO.
operation among bankers. manufacturer
premacy for the United States in foreign
trade.
Organization Of financial resources TO
supply long time credits to foreign coun-
tries. doing away with the burdening
taxation of American investments abroad
and the adoption of an elastic tariff
policy. were cited as important steps In
accomplishing this object
The Foreign Trade Financing Corpora
ton was approved.
In opening the convention James A.
Farrell Of New York, chairman of the
council and president of the United
States Steel Corporation, told the 1000
delegates:
"The war placed the United States
where it belongs In the foreign trade
list-in the lead. and now 1t is only a
matter of a definite policy, backed not
only by the merchants, bankers and
manufacturers, but by the Government
to maintain our rightful position among
nations.
THE welfare of every man. woman
and child In America Is linked up with
correct solution of these problems"
Fred /. Kent of the Bankers Trust
Company of New York, spoke on Fl
nancing Foreign Trade" and w. Z. G.
Harding. governor of the Federal Re-
serve Board, on Frozen Credits-What
They Are and How to Thaw Them"
Both speakers urged that methods be
adopted to provide foreign countries
with sufficient credit to enable them to
regain their pre-war standing in pro-
duction and distribution.
There Is now no danger of any gen
eral financial trouble in this country"
Mr.. Harding said. "rhe present is a
time to do things in the business world.
time for courage. We are on a much
safer basis than a year ago. Frozen
credits can best be thawed out by a
movement, a stimulation Of business,
which will do the thawing out auto
matically.
Federal Reserve Bank reserves are
higher than since the fall Of 1918. With
the present average reserve So per cent,
compared with AZ per cent. a year ago,
the banks are able safely to take part
In movement to stimulate business
with a view to liquidating foreign
credits"
The general convention committee OF
nearly one hundred. with Ar. Farrell az
chairman, was chosen to-day. The COM
mittee will present its rerort at the
closing session Saturday, giving recon-
mendations as to foreign trade policy.