davidaulloa/AmericanStories huggingface dataset:
Rockingham post-dispatch. [volume] (Rockingham, N.C.) 1917-1965, 1921-05-26
Lewarae News.

Miss Ida Griffin has returned home
again. She has been at Stokes Sanitorum
at Salisbury for some time and is very
much improved.
MIR. Lee McDuffie has opened a nice
cold drink and ice cream stand at his
home in Lewarae. but he says he is not
going to sell on Sunday. Would it not be
fine if all of us would remember the
Sabbath Day and keep it holy.
MIR. w. S, Ramsey has bought a nice
milk COW but she is not as good as Toms
Is OTIS. per day.
Mr.. Henry Brewer has given up, his
job here and has taken position as
night overseer of weaving at Mccoll
S. C.
The gardens at Lewarae are very small
on account of SO much rain and cool
weather and farmers are badly behind.
Some are blowing up and planting over
again. 49,
Rev. Leon NJ. Hall is conducting a
revival at Roberdel No 2 this week. He
has as his Singer Mr.. Parker, of Biscoe.
MIR. Floyd Frye and Miss Beulah Ram
sey were married last week at Bennetsville.
May they always be happy and prosperous
is my prayer.
Mr.. Clay Covington's baby is very sick,
but we hope it will soon be well again.
Mr.. and, Mrs A. B. WEIGH visited Mrs.
WEIGHS sister over in Arson, Sunday.
Miss Beulah WEIGH. entertained quite
a number of her little friends last Friday
night at her birthday party. After they
had played for some time all went into
| the dining room and were served ice
cream and cake. But the fun came when
a ring was placed in a pan of flour and
each one had chance at getting it out
with his or her mouth.
Mr.. and Mrs. Raiford Dawkins attended
Childrens Day service at Ledbetter's last
Sunday; sure was fine.
Mr.. Walter Felkner is wearing very
broad smile this week; it's girl
Some of our people are attending the
Revival services at Roberdel No. 2 and
we know great good is being done. May
God bless dear Brother Hall. He is doing
a great work on this, the Piedmont Circuit
We hear some more bells are to ring
around Lewarae. Don't know if it is sure
wedding bells; will tell you later; Believe
so.
Blue Eyes.
The New York herald., 1921-09-04
NEW YORK MARKETS.

NEW YORK MARKETS..
WHEAT-,rhe local grain market was not
open yesterday. The principal bullish piece
OF news was an official estimate on tho
Indian crop. placing It's indicated yield at
246. .0O0. 600 bushels. against last years crop
OF 37T, 900 900 bushels, and II seemed to in
spire active buying through commission
houses. Receipts were fairly liberal at
spring wheat points. Local cash prices were
nominal
CORN-Export interest was largely lacking.
Cash prices were nominal.
OATS-The local cash market was not
open.
PROvISIONS.-Receipts OF hogs at Western
points were about 80. 900.
FLOUR.
MINNEAPOLIS. Sept. 3.-Flour unchanged
to 10 cents lower In carload lots family
patents quoted at $s6S.10 barrel. in 9S
pound cotton packs. Shipments. "a ,0o4 bar
rels. Bran, SiSQ15.
The New York herald., 1921-09-04
GOLD RESERVE OF
BANKS EXPANDING
National Average Proportion
Is 81 Reserves to $11.5O
Loans and Deposits.

Under the Reserve system the gold
held by national banks as reserve is in
an average proportion of about 81 of
reserves to $11.50 OF loans and deposits,
in contrast to ratio of about one to
eight under the old national banking
system. according to an article on the
mechanism OF expansion under the Re-
serve system appearing In the current
Monthly ReUtctD of the local Reserve
Bank
The different degrees Of expansion In
the three classes of banks, those in CEN
trail reserve cities. reserve city banks
and country banks, are explained in
their varying reserve equipments. The
article gives the following example.
which assumes that a country bank Is
expanding to the maximum on 100000
Of gold deposited In reserve bank:
For every S. of gold deposited by a
member bank with Federal Reserve Bank
Reserve notes and 81 is likely to be used
as reserve against the deposits of the MEM
Der bank The 50 OF gold will act as reserve
against Federal Reserve notes amounting to
$3.50. because its 40 per cent. reserve re-
aurement permits an expansion OF 2.5
times)
the reserve deposits OF member banks,
amounting to 1912. because it's 3b per cent
reserve requirement permits an expansion OF
2.SB times.)
.'And that $5.72 will act as reserve against
deposits I'm country member bank amount
ing to $S1 80 because It's per cent. re-
serve requirement permits an expansion Of
14.3 times.)
(which multiplied by 10000 (the number
Of times s. is contained in 500 .o0o) gives
81. .7s6. .000
'It will be observed that the figures
given above do not take into considera-
ton the vault cash which a member
bank may find 1t desirable to keep.
Making allowance for that requirement,
and averaging all banks in the country.
the expansion works out at about 11.5
times.
I'm order for a member bank to en-
large its reserve at the Reserve Bank
It Is not necessary for 1t to make
deposit Of gold or lawful money, because
n loan by a reserve bank to a member
bank adds to the reserves OF the latter
in exactly the same way as though gold
had been imported and deposited by
that member bank; and it may use 1t as
reserve against it's own deposits or with
draw notes against 1t in just the same
way. The determining factor as to how
long such loans may go on Is the stock
of gold which the Reserve Bank has
and which 1t uses as the basis for its
own expansion"
The New York herald., 1921-09-04
WHEAT MARKET Is
STRONG AT CLOSE
Small Early Break Is Followed
by Sharp Rally on Com
mission Buying.

CHICAGO, Sept. 3. - Wheat opened
somewhat unsettled. with prices holding
within a range d6 about cent. A small
early break was followed by sharp
rally on buying by strong commission
houses. while the selling in the main
was scattered. Wheat opened at s1.2sN
to s1.24 for September; $1.24% to s1.25
for December and s1.29 for May. which
was a cent lower to "a cent higher than
yesterdays finish. Tho end of the first
hour. however. found wheat a cent to
/ " cents higher. with the market TAX
ing on a slightly hrmer tone.
Wheat showed more activity and there
was an increase in outside interest. The
market advanced sharply and houses
ers. The local. element also took the
buying side and there was sufficient
news OF bullish character to prevent
great pressure.
The market closed strong, az to ~
cents above the opening, with September
at S1.26H. December at $1.2S and
sl2S1s, and May at $1.321h.
Corn opened rather dull and a trifle
easier. Country offerings were light,
due to a certain extent to the recent
break in prices. September opened q
shade to nc. Off, with September at
53h. December at 53S to 53k and May
at 671s. but a slight rally during the
initial hour carried the market slightly
above last nights finish.
Corn was under early pressure, but
when wheat started upward. coarse
grains followed. Trade was not large.
and mainly of local character. the pros
poets of very large arrivals Of corn over
the holiday being factor. The close
found corn &c. to &c. above the open
ing, with September at 541, December
at 54s to 54A and May at 5s% to So.
Oats opened duh, unchanged to nc.
higher. with September at 34ss. Decem-
her at 38 and May at AK. Oats also
made a slight early gain and the end of
the first hour found prices a shade to
NC. higher than the opening.
Provisions were steady. private
report stated that recent purchases of
lard were almost phenomenal.
The prices for wheat advanced Az to
points during last week. Corn lost H
to q while the figures for oats show
exactly what was shown a week ago.
Provisions gained 35 to 10 cents.
Reports Of large sales for export
early in the week started the market on
the upward trend. which was followed
in the midweek by 9 private crop re-
port showing 1000. .O0o bushels OF wheat
less than the Governments August re-
port for all wheat which served as a
stimulant to the market. and a gain Of 5
cents was noted then.
That gain was maintained generally
until yesterday. when closing Of
spreads between here and Winnipeg
weakened the market and 1t slumped off
between a point and 2 points.
The market broadened until 1.2S for
December was reached, when a flood of
selling took place, and the high mark
was not sustained.
Export demand for corn served as a
sustaining influence during the greater
part OF the week, the market displaying
a slight weakness toward the end Of the
period. Oats followed corn throughout
the week
Provisions displayed a firm tone,
mainly owing to strength of grains.
CHICAGO PRICES.
The New York herald., 1921-09-04
LINER SCYTHIA LEAVES.
Denomination mt start OF Return
Lap OF First Voyage.

The liner Scythia, the new oil burning
one stacker Of the Cunard company, left
for Europe yesterday on the return lap
Of her maiden voyage. Much footing OF
whistles and cheering marked her sail-
ing.
Capt. William Prothero expected to SEQ
what his ship could do in the way of
speed. but will rot force her to the limit
until the turbines have been well tried
out. Among those sailing was Maxwell
H. Maxwell, director of the line.
The New York herald., 1921-09-04

was part OF an imposing conceptions q
Mansarde. Louis xIv,s famsCD archi-
tect. and designed to commemorate the
glory Of the Grand Monarque. Stately
pageaptry OF that golden age was asso-
ciated with the site and it's structures.
At a later date the old walls furnished
background for stirring revolutionary
episodes of French history.
Amid these historic surroundings the
Bankers Trust Company during the last
two years has been constructing quar-
ters In keeping with Its New York Of
fees. The facade of Louis XIV. has
been left practically in its original de-
sign. including the exterior decorations
by Mansarde and the roof invented by
him which to this day perpetuates his
name the world over.
However, the interior of the building,
with the exception Of the grand stair
case, has been completely remodelled to
mt the requirements of a modern Amer
lean bank with special conveniences and
accommodations for services to trav-
ellerS.
The New York herald., 1921-09-04
METALS.

A better demand for copper has been
reported and the market has been frmer.
The Improvement reported In London has
been attributed partly to reviving de-
mand from India and has been accom-
panied by q renewal Of export inquiries
here. II is reported that sales have been
made through the Export Association for
shipment to England, France and Ger
many, chiefly to the latter. and business
has been reported for the Far East also.
Meanwhile buyers for domestic consump-
ton have shown a little more interest.
The small lots recently available around
11x for spot and prompt shipment APP
pear to have been absorbed and larger
producers have reported sales on 12
cents basis.
Lead has continued In good demand
from consuming interests, with its price
Arm and higher.
Tin continues quiet and about a cent
higher IN response to the advance In
London end In sterling.
Zinc has been steadier A better de-
mand Is noted from consumers especially
from galvanizers. and although the lat
ter appear to have fair stocks producers
are Offering sparingly.
Anthony was Arm on spot but lower
in China. and recent arrivals are well
! cleaned up. '7
The New York herald., 1921-09-04
LONDON MARKETS.

LONDON, Sept. 3.-Bar gold. 109s. Sd.
Money. "a per cent Discount rates
Short bills, AS per cent; three months
bills, Az per cent
The New York herald., 1921-09-04
MONEY MARKET.

TIME LOANS.
Mixed collateral, go to 90 days. bN@0
Mixed collateral, to months. 49,. 5%@6
Industrials. 60 TO 30 days. b%@6
Industrials. 4 to months. ......... 6A06
COMMERCIAL PAPER.
Best names, 4 to 6 months. ........ .6@oN
Other names, to months. ......... .606H
DISCOUNT RATES. RESERVE BANK.
Commercial paper. s15 days. 5h; 90 to -
days, 5h; Liberty bonds and Victory notes,
is days, BY: 16 to 90 days, bh; bankers'
acceptances, 18 to 90 days. 5h.
sFixed July 21. Previous rate. 8. fixed
June 10.
OPEN MARKET RATES.
Prime eligible acceptances on call. 6: re-
discount at reserve banks. go to 90 days.
5hD5; non-member and private bankers
eligible, 60 to 90 days. 5h95; non-cligibles
80 to 90 days. 5%05h.
CLEARING HOUSE STATEMENT.
Clearing House exchanges, S549 800 .000y
balances, $55, ,000, 900; Federal Reserve credit
balance, SAT SOC. 900.
SILVER MARKET.
Official bar silver in New York. domestic.
unchanged: London, 38hd.. unchanged Mex1-
can dollars, 4S%c., unchanged.
The range of silver prices this year:
London. 421zd. Jan. g 30Nd. March
New York. 6Sssc Jan. b2Mc. March
The New York herald., 1921-09-04
HISTORIC PARIS SPOT
FOR ~. Y. BRANCH BANK
Bankers Trust Will Open Of
flee in Place Vendonae.

Within historic walls in the ancient
Place Vendome, Paris, a new banking
Office Is about to be opened by the Bank
ers Trust Company of New York.
strengthening by another tie the friend
ly relationship existing between the
United States and France.
This new home OF the company's Paris
branch Is Nos. 3 and In the Place
Vendome. where modern banking facil-
tiles have been installed with little dis
turbance of architectural surroundings
invested with much of the romance Of
bygone era.
In the recent past the building was
the Hotel Bristol. an exclusive hostelry
which for years enjoyed the patronage
of visiting European monarchs. among
them Edward VII. and George V. Of
England. But in more remote days 1t
The New York herald., 1921-09-04
sheet Trade Improves.

There is a distinct Improvement In
the sheet trade. one of a few steel com
modities which looks good Orders
nave come from jobbers in diversified
sections of the country, and although
they were for only a carload lot In any
instance, in the aggregate they MADE
a slight increase in production. An
outstanding feature of the sheet market
is that in several cases buyers show a
disposition to contract for fourth quar-
ter requirements, something not noted
in the market for several months. Man.
ufacturers, however, are not inclined to
contracts, evidently expecting higher
prices. Not much business Is coming
out, and 1t is a matter of speculation
as to how long sheet producers will be
able to bear the brunt OF selling their
material below cost. Tin mill black Is
being quoted at 2.75c., Pittsburgh base.
by an independent producer on attrac-
tive specifications, II extras repair
losses said to be encountered in produc-
ton of ordinary stock. The leading In
terest's mills are operating at about a.
per cent. of capacity, which tops last
weeks rate by 10 per cent Prices are
in the main 2.25c. on No. 10 blue an
nealed sheets, 2.75c. on No. 2S black
and 3.75c. on No. 2S galvanized. Stocks
that many consumers must buy material.
There was confusion last week be-
cause of rumors that tin plate had been
reduced from s5.25 to s475 for mill
production plate. but confidence was
soon reeetablished when denials of them
came The leading interest and the
leading independents are quoting the
higher price, and there Is nothing in
the present situation to suggest lower
prices soon. Tin plate in stock sizes
has been offered during the last two
weeks at s4.75. base. and even lower.
Although certain makers still will shade
s4.75 on stock items. sentiment is turn
ing to fiat price of s5.25. base Pitts
burgh. The last week brought out new
business. and although It was not large
In the aggregate II was sufficient to reg
lister a distinct increase in production.
The Jones &c Laughlin Steel Company
has about so per cent. of Its capacity
engaged. and the leading interest in
creased Its activities by per cent. dur
ing the week and is doing 40 per cent.
OF capacity. Generally speaking. the
market appears to have shaken Off some
OF the prevailing dulness and is showing
The New York herald., 1921-09-04

DEMAND ON STEEL
MILLS INCREASING
Calls for Sheets, Tubular
Goods and Merchant Bars
Are Reported Best.
PIG IRON TRENDS UPWARD
Coke Market Stiffens-Nuts,
Bolts, Rivets and Ferro-
Alloys Improve.
PIG IRON TRENDS UPWARD

| Special Despatch TO THE New York HERALD.
PITTSBURGH, Sept. 3.-Certain steel
producers report a lighter demand IN
the second half of August than they
did in its first half when they noted
sizable Improvement compared with
that OF July. The majority saw further
betterment in the last week or two and,
on the whole, there Is on doubt that
demand on steel mills has been increas-
ing rather steadily since the middle OF
July. although at very slow rate De-
mand Is best for sheets and tubular
goods and merchant steel bars come
next. Wire products are in moderate
demand and plates and shapes are In
light demand. There is hardly any call
for rails, but in the last few days re-
leases received have permitted addi-
tionaI shipments on contracts for the
years supply.
Steel mill operations are averaging
nearer 80 per cent. than rs, in con-
trast TO less than 20 per cent. at the
low point. which was about the middle
of July. Prospects are that the rate
will increase slowly in the next two
months. perhaps to 35 or 40 per cent.
No particular additional Improvement
Is to be expected. according to the
normal course OF the market, In De-
cember or January, but very decided
Improvement and freer launching OF
investment construction projects and
perhaps a fair volume of railroad buy
ing are expected in February or March.
From a survey Of the whole finished
steel market the indication is that the
price decline is practically completed.
There may be an occasional slip OF a
dollar or two ton in one product or
another. but no such decline as would
injure a buyer who would take hold
conservatively at this time.
Attempts of the merchant blast fur
naces to obtain slightly higher prices
for pig iron have met with little sue
cess, and the pig iron market is trend
ing upward. Actual transactions In
Connellsville coke show that the market
has not been altogether as low as 1t
was reported recently In certain quar-
ters. The American Rolling Mill Com
pany has bought 5000 tons month.
September, October and November. from
the Hillman Coal 6 Coke Company
for $310 and is about to blow In one
Of its Columbus stacks. The coke mar
ket has stiffened and its prices are rs
cents or so higher. Spot foundry coke
remains quotable at S4 to $3.50, but
its best grades are generally at $4.25 to
the broker and $3.50 to the consumer.
The New York herald., 1921-09-04
FINANCIAL NOTES.
CLUB HoNoRs PRESIDENT.

Watkins Co. have moved their Boston
office TO 40 State street.
The New York herald., 1921-09-04

President Harding has accepted the
honorary craftsmanship OF the National
Committee of the Army and Navy In
stitute. The club has elected to hon.
orary membership Marshals Joffre and
Fayolle of France and Gen. Badoglio OF
Italy. The institutes new club house
will be opened late In September. 1t is
located at 112 West Fifty-ninth street
and formerly was the German Club.
The New York herald., 1921-09-04
LIVE STOCK AND MEAT PRICES.
DIVIDENDS.

Stock of Pay
Record. able.
Martin Tire Co., s-a. 4q5. !. Sept. 10 Sept. 20
The New York herald., 1921-09-04
Nuts. Bolts and Rivet. Gain.

Manufacturers OF nuts, bolts and
rivets. report an Improvement in the
volume Of orders. received In the last
ten days. Most rivet sales are made to
companies engaged In car repair work.
but outside of that movement there is
little to be said. Button head riyets
are quotable at 2.35 to 2.40 cents, and
boiler rivets at 2.45 to $50 cents. Small
rivets are quoted by certain makers at
65. 10 and 10 Off, and in certain cases
Ave points additional can be obtained
Hot pressed nuts in black form range
from s4.60 TO s5.25 off. White tapped
nuts still range from s4.25 to IS off.
Attractive specifications are said still
70 be developing lower prices, although
as n general rule, little tendency is
shown on the part OF makers to sell
their products at prices under usual
quotations.
From all appearances better de-
mand for ferro-alloys exists. there being
a slight increase in this weeks sale Of
them. Makers still notice competition
from New York importers. who con-
tinue to offer ferro-manganese at sG5,
seaboard. wlfSeh with s5.32 freight
brings that grade 10 the Pittsburgh
market at s70.32. Despite that fact,
makers are tightening up on their quo
tations. whicn are $IO 10 $I5 Tor 10 TO
80 per cent. domestic material. AL
though so ton sale OF ferro-manga-
nese has been reported at $40, offerings
at that figure are unusual. Recent
sales showed closing figure OF s72,
freight allowed. but the company taking
that business is quoting SIS. freight al
lowed outside Of an inquiry from the
WeIrton steel Company for carload OF
so per cent. ferro-siicon. nothing of
prominence is before dealers In that
alloy. a quotation submitted on that
inquiry was 500. delivered
Demand for Niron and steel scrap has
narrowed down and little business in
other than carload lots is pending. As
far as can bk ascertained. only one
steel melter is ln the market for fair
sized order and Is inquiring for a few
hundred tons oftiron car wheels. holding
s15 as his closing figure.
The New York herald., 1921-09-04


n
O Sesess sn anch "a
@ % 0''As " " '''o0
Additional Bank and Trust Company Reports.
Fo thew kEndeds dseptenb 2.
The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1921-10-19

supposed to carry arms, that the or
ganization always complied with To-
cal parade regulations, that many
parades had been permitted in At
lanta and that neither the mayor nor
chief Of police Of that city was q
klansman.
"rhey say that the Klan sends
threatening letters" he added. 81
might say here that | have received
hundred Of threatening letters, tell
ing me I had been picked out for
slaughter. Well, l guess this irish
man was picked out as target by
somebody else, for Klansmen would
not attempt to shoot their old wiz
ard"
The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1921-10-19

sMHHy DTbmnllC lnCluontS EoAturG1 the
Hearing During the Day as tho I'm
perial Wizard Denounced Charges
Before Rules Committee.
+ Washington, Oct. disclosing an
Iall-day defense OF the Iku Klux Klan,
gWilliam ]. Simmons, its imperial wiz
sard, toppled over in chair today
while the chairman Of House com
mittee investigating the order was
attempting to stop the applause which
broke before the crowd knew the
wizard had collapsed
Friends Of Mr.. Simmons rushed to
his side and supplied stimulants, but
as 1T was evident that he was in no
condition to continue the examination,
the hearing, filled with many dramatic
incidents during the day, was adj
iourncd until tomorrow Physicians
later reported that Mr.. Simmons con-
dition was not serious.
Bundled Mo about tho chest, Sim
mons returrcd to the afternoon scs-
sion unsteady Of feet, his voice hoarse
but apparently eager to denounce
what he characterized as outrageous
charges against the organization he
founded in Georgia five years go.
A solemn stiffness previled at times
while the wizard holding aloft the
ritual Of the Klan, read parts Of the
oath taken by Klansmen. And, then
in husky tones he told the committee
that while Julius Caesar had hie
Brutus and Washington his Benedict
Arnold, he, too, as imperial wizard o.
the Ku Klux, could enter that fellow
ship because he had suffered from thu
treasonable conduct Of those within.
''If this organization is unworth!
then let me know and will destroy It,
he exclaimed but if it is not, then 10
1t stand"
Turning to the crowd Simmons de
clared he wanted to "call upon tn
Father to forgive those who had per
secuted the Klan," and as the word
left his lips he tumbled into heap.
The first dramatic incident Of tn
day was the sudden appearance {
Senator Thomas T.. Watson, OF Geol
gia, who, edging his way through th
crowd, stepped up and seized the VIII
ard by the hand. Whispering some
thing, he turned and sat down, but
moment later he was on his feet, d.
manding the right to question the wi
ess in "the interest Of fair play"
Chairman Campbell broke in to so
that the witness was getting that, an
that it was not in line with regul;