davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-01-02
THE CONSOLIDATED STOCK EXCHANGE
of NEW YORK
The Second Largest Stock. Exchange i'm the
United States i'm Volume of Stock Transactions

THE remarkable growth and Importance Of the Con-
sodated Stock Exchange of New York since the days of
infancy The New York Mining Exchange 43 years ago is due
primarily to the splendid opportunities offered small operators
and investors.
Beginning with only twenty-five Charter Members the
Exchange grew rapidly absorbing four other organizations
within the first years.
Within year of this consolidation the volume of business
toaled Al 6z570 shares and the following year. 887 the
sales increased six million. In 1906 the transactions
toaed 81 $4,000 shares and the present time the volume
OF business is
The universally used Clearing House SYSTEM originated
and perfected in this Exchange 1888 members
invaluable service at minimum
The Consolidated Stock Exchange in conjunction with it's
efficient Clearing SYSTEM handles the tremendous odd lot bus
ness OF ITS members with and expedition
ferng With handling and clearing the large lots
1t thus fills the essential and important role of giving equal time
and attention the orders Of both small large Dealers
ties to Members and their Customers resulted in an increa
ing demand for Exchange Memberships MEMBERSHIPS from
tile to time offered for sale by retiring Members or Membe
SHIPS OF deceased Members be obtained through the
S3cretary Office 10 of large moderate capital no
other field offers so great an opporuntv 80
WILLIAM s. SILKWORTH
President
oC0NN0R de CoRDOVA S.. A. LUTHER
r1fst vice PRESIDENT Second Vice
E. LYNCH JOHN E. HOEY -.
secretary Treasurer
VALENTINE MOTT
Chairman
BOARD OF GOVERNORS
= Bsa B1si' ns; c9%oS5 % Chile, s y ls5nm
f'f f}s R}se"s Mar Msr % Gs %s 9"s 1Ss Ess'
New-York tribune., 1921-01-02

Nevertheless, the carriers will un-
doubtedly mako an earnest effort by
further economy and efficiency to ap-
proximate the 6 per cent return dur
ing the present year, even in the face
of less traffic. 1t is hoped that de-
cllning prices will be Of substantial
assistance in decreasing operating ex-
penses. For instance, it seems not un-
reasonable to hope that tho average
price ton Of coal used by railroads
may decline dollar during the COM
ing year, which in itself would mako
substantial addition to net operating
| income. There also will be an earnest
effort to increase the utilization made
Of existing facilities and to decrease
operating expenses in this way.
The relations OF the carriers with
their employees considerably improved
during the last year, and further
Improvement is looked for during 1921.
The effort Of the carriers to restore
local responsibility by direct rela-
tions with their own employees. as
distinguished from relations carried on
through national agreements and inter
prcted by national boards, seems about
to bear fruit. 1t is also hoped that
many Of the limiting working condi-
tions contained in the national agree
ments signed by the United States
Railroad Administration will be abro-
gated or modified is a result Of the
inquiry beginning before the United
States Railroad Labor Board on Jan
uary 10. The effort Of tho carriers so
far has been to increase the productiv-
ity Of their facilities and employees,
but II it develops that this cannot be
done on scale sufficient to justify
present railroad wages the matter Of
the equitable adjustment Of those
wages downward may, Of course, have
to be considered
New-York tribune., 1921-01-02
Believes Recovery Is Certain to
Follow Drastic Readiustment
Continued from p.ss s.vsn>

Continued from pass ssvsn)
Of disturbance and to the soundness OF
the underlying credit situation, which
already is showing marked improve
n.ent. These are matters Of weight
that are not to be ignored because they
are not immediately operative in con-
structive way. They are fundamental
and they bear chief1y~upon the future,
whereas the readjustmcnt that has
brought about business depression is
now, to very great extent, a matte r
accomplished, and therefore Of the
past. For that reason they arc much
the most important to tho stock market,
which already has measured and moro
than measured the downward curves
OF business and prices.
Early Recovery Unlikely
Immediate Industrial recovery ia
not to be reasonably expected, nor is
1t indicated by tho present market for
securities. II current hopeful predic.
tions Of marked improvement In eener.
81 business In February or eArly MaYch
New-York tribune., 1921-01-02
Conservative PROGRAM,

With regard to additions and bet
terments to fixed property, only d
conservative program can be expected
for 1921, generally similar to the pro-
gram for last year, which consisted of
improvements which were designed to
remove points OF construction and to
increase the use of present trackage
and terminals to a maximum point
Accordingly, improvements to existing
| locomotives, the extension of the use
OF heavier power, reducing grades,
f1attening curves, extending side tracks,
increasing yards, roundhouses repair
shops, signals and train dispatching
facilities, will probably constitute the
main items of expenditure, together
with higher maintenance than has OBJ
tanned during the war period.
The purchases of new equipment
during the year 1921 will probably also
be upon conservative basis. During
the last year the carriers have &C
CURED approximately $4,000 new
freight cars, 1900 new locomotives and
about 1000 new passenger cars. The
congestion which existed in the earlier
part of the year has been cleared away.
and the railroads since November so
New-York tribune., 1921-01-02
CONTINUED from paoe slx)

selves very much in the predicament
OF the young student who created the
Frankenstcin which dcvoured him.
New-York tribune., 1921-01-02
An Investment
Message

This is the thirN letter in our
effort to carry to you this mes
sage:
Omaha daily bee., 1921-08-15
Hughes to Head the DELEGATION.

President Harding is not going to duplicate
one of Woodrow Wilson's blunders, but will put
his secretary OF state at the head Of the delegates
who will represent America at the disarmament
conference in November. 1t is idle to speculate
on what might have occurred had Robert Lam
sing been sent to Paris as chief Of the American
commissioners, yet that would have been the nat
ural thing to do. Mr.. Wilson was the only head
of nation who sat at the table, and he found
himself at disadvantage because he was en-
gagged personally rather than through commits
sioner in the details Of the negotiations. Mr..
Harding will not encounter the embarrassment
that thwarted his predecessor by reason Of his
peculiar relation TO the conference. AS to the
qualifications of Secretary Hughes, better
choice could not have been made, and if his col
leagues are OF a similar caliber. the personnel
Of the American delegation will compare with
any, even with Lloyd George and Lord Curzon
sitting for Great Britain and Marquis Kato for
Japan These names, by the way, suggest the
character Of the conference and the importance
attached to 1t by the governments whose par
ticipation has been invited e..
Omaha daily bee., 1921-08-15
Thank You, Gentlemen.

1t is long way from the committee on ways
and means to the presidents signature, and
good many things can happen, and frequently
have happened, to revenue measure as it passes
along the route. Yet, fully realizing this, we
believe the gentlemen who make up the ways
and means committee entitled to, credit tor
good intent. Therefore, on behalf Of several:
millions Of our fellow-citizens, we thank the
committee for its endeavor to- afford relief, by
arranging to allow $40 bill to remain in the,
pockets of that great group Of taxpayers whose
incomes fall between $1,000 and $4,000. a year.
By increasing the exemption to.$2,So0 TO heads
Of families, the committee affords welcome
and certain to be appreciated relief. The grand
est most magnificent coin the world knows any
thing about is, or was, the American double
eagle. 1t has been so long since one OF these
has been encountered in the mart or seen pass
ing through the arteries of commerce that nearly
everybody has forgotten that such things exist.
The action OF the committee that is framing the
revenue bill nAans that one OF these splendid
tokens will besssyed to every taxpayer whose
annual idcohs is over $1,000 and less than $4,000.
If the thaAks sofs the millions now on earth are
worth as much as those "of millions yet to be-"
then Mr.. Fordney and his devoted gfoup of fel-'
Iow-congressmen will shortly receiveson1e COM
pensation for the harsh things said about them
in connection with the tariff.
Omaha daily bee., 1921-08-15

membership an opportunity to pro"
test!
The head Of the order Is. now In
Europe. ostensibly to place a mopu-
ment In honor OF tho fallen Amer
lean w. o. w. soldiers, while hum
dreds, yes, thousands of our sover.
cigns lie in our home cemeteries
their graves unmarked. We are tired
of far-fetched patriotisml
Nearly 100000 have dropped out
In the last two Years, Ask them
why.
The w. O. W. must stand for more
than revenue for our city. 1t must
stand for right or It must perish.
Let The Bee interview solid business
and professional men here ana get
the truth.
Let the remaining membership
vote and rs per cent will vote against
the present management. II this
goes on nothing will remain Of the
order except salaried officers. In
surgency is here to say until justice
comes to the w. o. W.-not sover-
eign camp laws with which the
courts cannot interfere, 4. but the
Justice OF Almighty Cod s.sE.
49, G. II. SCHLEH,
Official Representative, Welfare Com.
mittee. w. o. w.
Omaha daily bee., 1921-08-15
"Other People $ Money

A story almost as interesting as that origin
ally bearing the, title, Other Peoples Money,
is now being written in Nebraska. the difference
being that it deaisswith facts The only fiction
connected with it is, the amount used by the
promoters and stock statesmen to wheedle peo-
pie into investing, Not all Of. the enterprises
were visionary; many of them had not only
sound foundation. but splendid prospect for sue
cess under capable management. But the fumes
of other peoples money were too much for the
judgment of ffesexecutiyes, it seems. and good
cash was too easy to get In the heyday OF
flush times no thought was taken Of the NOR
row, when the buyers of stock certificates would
make inquiry as to their investments. Like
wise with some Of the banks that are going
down. Other peoples money was handled reck-
lessly there, and the crash could not be STAYED
off, Authorities are busy now, gathering up
what may be saved from the wrecks, but that is
little enough in many instances, and only Sc
cured after hard effort. There is no moral in
this Other peoples money must be invested to
support any worthy enterprise maintained by a
eorpofatSoon issuing shares Of stockto secure its
capital, and must be entrusted to bankers. AS
Omaha daily bee., 1921-08-15
Side Light ON Caruso
tFrpm Musical An,erica.)

The musical confraternity had
foregathered.
Said one, ANY news from Ca
ruso?~ .''
YES" said another. 1.-The report
is that he Is rapidly gaining and is
recovering a great deal OF his vigor,
but private advices express the fear
that he may never again sing as he
did"
by the bye" said another, "did
you hear Of the fees he had to pay
the doctors before he left? They
amounted in all to over 100000.
The bill of one medicuss showed
that there had been no less than
eight separate operations--enough
to kill a horse. 1t is miracle how
Enrico survived it,"
Did you know interposed
woman, that the only doctor who
had attended him and sent him :no
bill was his personal physician, Dr.
Horowitz, who. you remember, in
sisted to the last that it was not
pIeurisy? When Caruso found that
Horowitz had not sent any bill for
attending for some time he immedi-
ately ordered his secretary to 60 out,
and buy a diamond ring for $4,000.
which he sent with his kindest re-
CARDS to HorowitZ." ~
Omaha daily bee., 1921-08-15
Another Victory" for Woman.

An Oregon judge has cast another pebble
into the pool, setting in motion circles that may
not lessen as they widen. He holds, in dismiss
ing divorce suit, that there is no reason why
woman should not work to support herself
when she is not employed in caring for fam
iy.' He says the idea that wife must be sup
ported is played out. We do not know just how
to interpret this In the marriage service, more
or less regarded as binding by some yet un-
emancipated persons, the husband is required to
promise that he will love and cherish the woman
who contracts with him in matrimony, and with
all my worldly goods thee endow" is supposed
to have some meaning. One clearly understood
and time-honored Interpretation Of this is an
obligation to provide shelter, food, raiment and
such like things for the wife. Most courts hold
a husband responsible for the debts his wife
contracts, if the charges be for ordinary necessi
ties OF life and even that term is given consider
able latitude in its application. However, the
balance has been knocked considerably askew
by certain aspirations of the femnists, and it may
be that the Oregon judge will find imitators, who
will insist that lovely woman contribute her
share to the maintenance of bed and board. Life
is becoming more complex with each passing day.
Omaha daily bee., 1921-08-15
Unconstitutional What of 1t?

Senator Reed is probably right in asserting
that the anti-beer bill now before the senate is
unconstitutional, but he is in error il he be-
lieves its advocates will hesitate OH that account
If little thing like the constitution could stop
the Ant-Saloon league it would have stopped
long ago.
p The eighteenth amendment ITSELF prepared by
the Anti-Saloon league and presumably embody-
ing all it desired in the way of prohibition pro-
vides that the states shall have concurrent power
with congress in its enforcement. What concur
rent power have the states been allowed under
the Volstead act? Moreover, the amendment
was thoughtlessly put through without a clause
nullifyng the constitutional guarantees of per
sonal liberty But what individual rights worth
having have been left intact by the enforcement
officers? They have invaded homes, held up
citizens on the street, snelled drinks served in
restaurants and violated every legal limitation
on search and seizure.
Hence it is no trick at all for the prohibition
forces to enlarge the meaning Of beverage pur-
poses" to cover medicinal purposes" And since
the enforcement of prohibition is an absolute
impossibiiity while precedent is regarded. Sena-
tor Reed need expect. no support from the fol-
lowers of William H. Anderson for his amend
r1ent to the arti-beer bill imposing penalties on
officers who disregard the fundamental laws of
the land in carrying out the imperial dictates of
the drys. For them there is but one article in
the constitution and it can be stretched to cover
anything they want7-New York World.
Omaha daily bee., 1921-08-15
Dress for the School Teacher.

- Omaha teachers as rule are remarkably
discreet in their Dress" says the city superin-
tendent, in connection with an announcement
Of certain rules to govern garb for the young
women while on duty. The tribute is deserved,
yet the Omaha teachers are just as human as
any aud with all the natural inclination of the
sex towards adornment. Happily, they have dis
covered that extremes in dress do not make either
for appearance or comfort, and that they can
costume themselves so as to be neat and attrac
tive, in appearance, and yet without sacrificing
anything OF the proprieties. Teaching school
does not require girl to be trump, and the
? training she is required to have before she can
get on the staff is quite likely to have given her
some tinge of sobriety Rules must be made
where more than thousand teachers are en-
ployed, and as long as the restrictions do not
amount to serious interference with the liberty
of those affected, obedience will not be accom-
panied by hardship.
Omaha daily bee., 1921-08-15
Awakening World G Consciousness.

The Brooklyn Eagle sees in the assembly OF
a world-poiities Sacongress at Wllhamsto~n'
Mass, a hopelnl sigh, Out of the interchange
of opsnioss xal come, i expects, the permanent
cstabliskment !of ! forum. where the science OF
politics will be debated BY those who are quail
hed toStreatsnet only The abstract, but the con-
crete apphsaai1n Of theories. Especially is the
Eagle gratihedby the thought that the gathering
indiccatss the aWakening Of the American people
to 4 relation with the world that has not hith-
erto been acknowledged. Instead of thinking in
terms ofSnationalism we are hereafter to consider
all ,pfobfsms inS world aspect and so we will
move Steadily, TO the goal in direction Of which
..NvoodrowsWilson st his face that of inter-
1t may Be dAicnlt to trace the connection be-
tween. the aassemblyaat Williamsport and the
t-sudde,i aetsvity 81 Hamilton Holt in his efforts
to, revive sths League OF Nations. but the fact
that Dr.. Harry Garfield was sponsor for the call
and Bernard Baruch financed the gathering to
the extent ot 100000 suggests even to the guile
less that it was not intended to do any damage
TO. the Njtson ideas Or TO hamper their develop
ment by the group that hopes to stage at least
g'oue more battle under the banner Of interna-
i tionalisrn. '11 ~''A "''
Particularly is it noticeable that the advocates
: q, the league are busy as ants just before the
coming together of the conference the president
. has called 10 discuss disarmament Little harp
is likely to come to the Harding program because
4 these impaeables insist on having their own way
:. They ase the successors to the "intelectuals'
,.who so 'tnergeticaly opposed MeKiniey's plans
for dealing with, the islands that. came to us as
result oSsflN spspisk American war. only then
they were iassussi National, and could not abide
the though4 of tie Aag going over tn; sea, while
( the doctrine that tie, constitution followed the
Mag was ahlprrsnt. t.T They are now at the other
sspdls b,Itt Aesssae ersistent because ting
9aess sAfs W ass aa,'hsss Of what hss
of l9oo@Ssss ~ :
Americans are completely self-centered, nor
unniindf,it Of their, duty to''other peoples they
are safe, however, behind the bulwark OF their
own institutions, and prefer for the present that
security to the uncertain outcome of the venture
on which the internationalists would plunge. We
can help the world more efficiently by keeping
out of the chaos and retaining our habits OF
national thought.
Omaha daily bee., 1921-08-15
Keen the States Seal.

Plattsmouth, Neb.. Aug. l2.-To
the Editor Of The Bee: note the
state seal commission appointed by
Governor McKelvie called for sug-
sestions and expressions OF opinion
touching the expedtency Of dong
away with the present state seal
adopted in 1857. and creating In
lieu thereof new one more in con-
formity to our present thrifty and
exalted condition. ",
Lam decidedly opposed to any
change In the seal whatever. 1t now
typifies most forcibly the true con-
Gition as II was in 1857. ana suffi-
ciently we'll our present aftluent con-
dition.
Our present motto. Equality Be-
fore the Law" could not be improved
on. The muscular blacksmith In the
foreground, with his anvil and up
lifted hammer fittingly represents
labor, the principal factor then as
now in developing the states Won
derful resources. The mountains
depicted have not changed. AS to
the train Of cars, would a longer
train now be any more significant.
The sheaf Of wheat all will admit
Is uPph oPA ApsS' A~"h'S
before the time for changing the seal
again. II the present river improve
ment agitation keeps up. the steam
boat will again be plying the old
majestic Missouri. Now last, but
in INV opinion by all means not the
least, is the old log cabin, which the
Commission says spells nothing"
Why divest the seal of the only in
vxysn
sociating as it did territorial days
pioneer could call home; where he
beat, the wild animals and the In
dians, and where the brave and noble
housewife nurtured her children.
and where peace. pleasure and COM
fort reigned more completely than
in the average home of today.
II the present seal Is obsolete and
antiquated as stated. as much can
be said Of the Declaration Of Inde-
pendence.
The seal, with its emblem has
grown old In service. but no less in
effectiveness and it stands as con-
slant reminder. OF what has occurred
in the way Of advancement since its
adoption in 1857. r.. q: lrs
/ came to Nebraska with the ad-'
vent of statehood and before the
present seal was adopted, at which
time the alleged population was only
$4,000, and during all these years !
have, been deeply interested in all
movements to advance it's interest,
having had an active part in the
passage of many of its laws.
T am keenly conscious of the trans
formation since 1867, and Of the
changes that have taken place, and
can comprehend no serious need of
a radical change in the great seal Of
state. ~ --.-
With all proper respect for all
those who hold a different opinion,
l am yours truly.
r. B. WINDHAM.
Omaha daily bee., 1921-08-15
Made-to-O Order Language.

Friends of the made-to-order Ian
guage, Esperanto, have been holding
a congress in Prague. and there may
he some significance in the fact that
the largest number of delegates
came from Sweden. The Esperanto
idea does not seem to be so strongly
endorsed by Americans, English,
French or Spaniards as by men
whose native tongue is not spoken
by many millions Of people.-Boston
Commercial Bulletin. -
Omaha daily bee., 1921-08-15
National Debt and Foreign Debt.

Cheyenne. Wyo, Aug. ITO the
Editor of The Bee: In contemplate
ing the first subject, we have now
tc consider recent plans covering the
second, wherein it is tentatively
agreed to postpone interest payments
for many years, combining this ac-
crural with the capital sum, and ac-
cepting long term bonds in settle
nient, this course because Of the rep
resentation that our debtors have not
sufficient ready funds to meet inter-
est and sinking fund currently, over
and above funds required to meet
government and industrial demands
during the long transitory period OF
adjustment.
This procedure, in effect, is tanta-
mount to a temporary cancellation.
at least, and eliminates all possibi1-
ity save future expectation, from that
source as an asset against our ma
tional debt. consequently for the
time we must depend on our own
resources.
The foregoing developments, the
fruit of the minds Of national and
continental financiers, has value in
that it carries a seed which suggests
that for the same reasons and to re-
duce current taxation, we might we'll
adopt (as a happy medium) a some
what similar policy extended to cover
part OF our debt, accordingly. the fol-
lowing is proposed: .-;
Making allowance for that norton
of our debt coming due we will as
sumo the net balance. for considera-
ton will be s20.00o. 900 900. which
amount il is proposed to divide into
two or more bond groups or series.
| the first current or primary. the re-
naming one or more post dated fu-
lures or acceptance bonds. carving
interest accrurals. thus spreading
capital sum with it's interest in prop
| er horizons over the current genera
tion and the next or the current de-
cade and the two or three following
according 10 the number Of erouns.
| For illustration. we submit a fabric
based on but two groups, the first a
$4,000, 100000 bond. issue, per
Omaha daily bee., 1921-08-15

From Chicago comes report that the Hon,
William Jennings Bryan, ever-so-often candi-
date for president, lecturer, writer, reformer,
preacher, etc, was stopped twice by suburban
automobile seuths. who frankly .avowed that
they did not know him, one saying that he had
never heard of such a person. Fame is fiimsy
thing, indeed, when a country cop can pune
ture it as easily as he would soap d-air
bubble. Shakespeare sized it up correctly when
he spoke Of the bubble reputation
burgh Chronicle Telegraph.
Omaha daily bee., 1921-08-15
Loose Change Is $4,000.

New York is the home Of six rail
road presidents, each Of whom draws
a salary of $4,000 or more, but Los
Angeles numbers among its residents
Mr.. Charles Spencer Chaplin, to
whom $4,000 is matter of loose
change.-Boston Transcript.
Omaha daily bee., 1921-08-15

Dispatches from Ireland are almost as con
fusing as those from Russia, but some day til,
facts will show through.