davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-05-13
RESERVE BANK 0. KS
6 MO. ACCEPTANCES
New Plan Will Be of Much
Advantage to Importers
and Exporters.

The Federal Reserve Board. acting
yesterday on the advice and suggestion
OF the Federal Advisory Council. ex-
panded its regulations for the purchase
of acceptances by Federal Reserve
banks to the extent of including six
months bills required by the usages
of overseas trade. movement of sig
nificance to exporters and importers
as well as to dealers In acceptances.
For some time the Federal Reserve
Board has frowned on the rediscount-
ing of bills in the export and import
trade extended beyond the original limit
OF ninety day maturity. Such bills If
extended beyond the original period
were not purchasabfe by the Federal
Reserve banks except by special per-
mission and after the unravelling of
red tape. The new ruling gives no re-
lief from the rediscounting point of
view, but 1t widens the purchasing
facilities of the reserve banks and par
ucularly of the Federal Reserve Bank
of New York.
Incidentally the new ruling recog-
nizes that the turnover both In exports
and Imports is less rapid than for
merly, and that If our exporters and
importers and acceptance dealers are
to compete with London the available
ity of six months paper for purchase
by reserve banks Is of vital Importance.
The trend in overseas trade is in the
direction of the extension of longer
credit The official announcement issued
yesterday read as follows:
Under new regulation of the Fed
eral Reserve Board, six months bankers
acceptances issued in import and export
transactions become eligible for open
market purchase by Federal Reserve
banks.
Therefore, bills of the longer maturi-
ties up to six months, when required by
the usages of overseas trade, may now
be offered to the Federal Reserve Bank
of New York for purchase as the shorter
bills heretofore have been.
THE effect of the longer eligible ma
turity is expected not only TO provide TO
the discount market a class of paper for
which there heretofore has been an un-
satisfied demand, but also to place more
effectively the facilities of the open dis
count market at the service of overseas
commerce"
The New York herald., 1921-05-13
BRITISH BANKERS
FOR FREE TRADE
Sign Manifesto Against Any
Measure to Check World
Exchange.
MUST HAVE BUSINESS
Say That Britain Cannot
Limit Imports Without
Restricting Exports.
SEEK NATURAL RECOVERY
Declare Con trolls, Licenses and
Tariffs Only Retard I'M
provement.
SEEK NATURAL RECOVERY

LONDON, May IA manifesto signed
by score of leading bankers was pub
lished here to-day protesting against
any legislative or administrative meas
ures tending to check the free eX-
change Of goods with foreign coun-
tries and declaring the policy of trying
to exclude foreign commodities to be a
mistaken one.
I'VE cannot limit imports without
limiting our export trade and strik-
ing a grave blow at worldwide COM
merce. on which this kingdom prin-
cipally depends" the manifesto says.
Expressing the opinion that all Gov
ernment controls. licenses and tariffs
can only retard Improvement in con-
tinental exchanges and prevent the
natural recovery of trade, the mani
festo concludes:
I'VE desire to enter a respectful pro-
test against every restrictive regulation
of trade which tends to diminish the
resources of the State"
The signers include Lord Avebury,
partner in Coutts & Co.: Lord Chal-
mers. former joint Secretary OF the
Treasury; Frederick c. Goodenough.
chairman of Barclays Bank, Limited:
Sir Everard A. Hambro. director of
the Bank Of England: Lord Inchcape,
senior partner in Mackinnon, Mackenzie
&c Co.; the Right Honorable Frederick
Huth Jackson. director of the Bank of
England; Sir Robert Kindersley. di-
rector of the Bank of England: Walter
Leaf, chairman of the London County,
Westminster and PARIS Bank, and
Reginald McKenna. director of the Lon
don City and Midland Bank and former
Chancellor of the Exchequer.
The manifesto is an important move,
clearly aimed at the present Govern
ment's trade policy as exemplified by
two resolutions passed in the House of
Commons yesterday, although the reso-
lutions are not mentioned In the mani
festo, and also at excessive public ex-
pendture.
The document is a weighty protest
against erecting trade barriers. 1t de-
clares: I'VE have to build up the mar
kets we need by encouraging the Con-
tinental nations to export to us. for 1t
is only by exports that they can re-
establish their credits and provide
funds for the payment of their debts"
Tho banking community said TO be
IN eayor of repeating the so per cent.
levy on German exports, which, ac-
cording to an official statement made
in Parliament yeterday. only produced
In the first five weeks $1,000. and in
the opinion OF the business community
Will act as a great hindrance to trade
With Germany, driving 1t into the hands
II neutrals.
Former Chancellor Mckenna, Lord
Inchcape, Walter Leaf and Frederick c,
Goodenough. as well as other signers
of the manifesto have all emphaized
in speeches recently before the share
holders of their respective banks the
urgency of recpening European trade
for the purpose of finding markets for
the huge accumulations of stocks in
British warehouses.
The New York herald., 1921-05-13
DER ISQUESTIONED
IN HIS TICKER PLEA
Member Of Firm Whose Wires
Were Removed Is Heard by
Exchange Committee.

l.. d. Dier. a member OF the firm OF
Hughes 4 Dier. brokers. of AZ New
street, appeared before the New York
Stock Exchanges committee on quota
tions and commissions yesterday and
made formal application TO have replaced
in the firms offices the. tickers removed
on Monday. These tickers. rented under
contract from the Western UUon Tele-
graph Company were taken from the
brokers' offices without any warning,
according to members of the firm.
The committee on quotations and COM
missions held a protracted session yes
terday afternoon at which Mr.. DER
answered questions put to him After
the meeting Mr. Dier and members OF
the committee refused TO make state
ment
At the Hughes & Dier offices igno-
rance was again professed as 10 the
cause of the removal OF the tiokers.
Yesterday the firm maintained quo
tation service I'm it's customers room By
means of a Consolidated Stock Ex-
change ticker. A member of the Hughes
& DER staff is also a member Of the
Consolidated Exchange.
The New York herald., 1921-05-13
HAVANA ELECTRIC GAINS.

The Havana Electric Railway, Light
and Power Company reports for 1920 a
balance. after charges and taxes OF
S3.502.595, which contrasts with s4,10S,-
$40 in 1919. Its gross earnings were
1f.477.937, net after taxes, s5,O2s.4s5.
and dividends aggregated s2.155, 600.
leaving a surplus of s1.952. 2.901, in 1920.
The New York herald., 1921-05-13
NEW STOCK EXCHANGE FIRM.

Farr a co. have become members OF
the New York stock Exchange through
the election on Thursday Of Irving r.
Kingsford 20 membership In that body
The firm does r brokerage business in
raw and refined sugars and are special
lists I'm sugar stocks. Its members are
John Farr. Ir. f. shelton Farr. Francis
H. Geer and Irving y. FSingsford.
The New York herald., 1921-05-13
DIVIDENDS AND INTEREST.
THE NATIONAL SUGAR REFINING
COMPANY OE NEW LEKSEN

New York, May iith, 1921.
The Board OF Directors OF this Company
has this day declared a dividend OF TWO
AND ONE-HALF PER CENT (2ise) on
tho Capital stock of the Company. payable
Suly .ne, 1921, TO stockholders OF record at
thc cioso Of business June nth. 1921
X. IT. MOLLENtfAUER, Treasurer.
The New York herald., 1921-05-13
REFINED.
wednes-
REFINED.
R,ndne.
FAR EAST BANK PAYS WELL.

The Chartered Bank OF India. Aus
tralia and China shows In its report FOR
1920, made public yesterday By William
Baxter. New York agent, that net profits
amounted 70 fs4e.6Oi after providing for
bad and doubtful debts Dividends OF
2oia per cent on the stock were paid.
The New York herald., 1921-05-13

among other covenants, thar
SO long as any Of these Notes are OUT
standing:
The Company will not mortgage or pledge
any OF its real personal property now owned
or hereafter acquired, unless these Notes shall
share equally and ratably in the lien OF such
mortgage or pledge. This covenant shall not
prevent the Company from purchasing property
subject to a mortgage or from creating pur-
chase money mortgage TO the extent OF 7S% Of
the fair value OF the property purchased, nor
from pledging S security for loans made to il
in the regular and current conduct Of it's busi-
ness, accounts receivable or other liquid assets
or stocks, bonds or other securities owned by IT.
During the life of these Notes, the Company
will not increase the amount invested in
Fixed assets (ss OF May IS, Iozr) BY more
than 1870 Of the face amount Of these
Notes except from future earnings or the
future issue OF preferred common stock,
and will maintain total current assets at least
equal to the amount OF its total indebtedness,
including these Notes then outstanding.
The New York herald., 1921-05-13
T.. H. II. SIMMONS ELECTED.

e. III. Fl. Simmons has been elected a
vice-president Of the New York Stock
Exchange, succeeding Seymour Crom-
well. who was elected president at the
annual election last Monday.
The New York herald., 1921-05-13
$6,OOO,OOO
The Niagara Falls Power Company
and Consolidation Mortgage Series AA 6 Gold Bonds
Dated November 1, 1929


Dated November
%rs
AA.aa0Mm
PROPERTY
mda Pow Company bring he ggg u
the
AA @S oysR sk e @ II IS @ 4sEk KS IS @ ] e
mndda the P nd Console ges
asy @~epa bee
VALVE OF PROPERTIES
hh under -
L s.I sA~A~t President -~e~~'
Price S8 and interest yielding about 7%
sss $50 60 - SSsS. - &C. y = = & sat %2H ss
Spencer Trask & Co. E. II. Rollins & Sons
BoadS Street. NwY ExhngeP, Yk
SchoeDkopf, Hutton & Pomeroy Inc
Marine Trust
za%s. sn~= % @ | %
The New York herald., 1921-05-13
UNION PACIFIC RAILROAD co.
A Quarterly Dividend OF

VuhrtefIy HiNfdend OF
$3.50 per share on the Common stock
Of this Company has this day huen declared
payable on Friday, July I, iD2l 10 stock.
holders Of record al L. NJ. Wednesday,
June 1. 1921.
EDWARD q. SMITH Treasurer.
New York. ". H., May II, 1921.
The New York herald., 1921-05-13

These Notes are the direct obligations
of KellySpringheld Tire Company and
constitute its only funded debt.
The proceeds Of this issue will be used
for the funding of it's floating indebtedness
and to furnish additional capital.
The Company's outstanding capital
stock at current market quotations repre-
sent an equity of over $40, 900, 600 ranking
junior to this issue.
Net profits for the four years ended
December 81, 1920, after depreciation, and
available for interest and federal Taxes
as certified by Messrs. Touche, Niven
& Co., Public Accountants, averaged
$3,2oo oo6 per annum, or over four times
the maximum interest charge of 100000
under this issue.
These Notes will be issued under a
Trust Agreement which will provide in
The New York herald., 1921-05-13
BID AND ASKED QUOTATIONS
=. Y. STOCK EXCHANGE QUOTATIONS..
FOREIGN BONDS.

To the following prices accrued interest 10
10 be added In every case:
The New York herald., 1921-05-13
SUGAR.

The range OF prices in yesterdays
sugar futures mav' follows :. ),
The New York herald., 1921-05-13
FOREIGN BANK STATEMENTS.

LONDON, May t2.-The Bank Of Eng
lands weekly statement shows changes
The New York herald., 1921-05-13

Government secufltleh. dcc..ssts.. 1851 wv
Proportion OF reserve 10 liability, l4.0o per
cent. last week, 1877. Rate " discount.
GM per cent.
The New York herald., 1921-05-13
The weekly statement Of the Bank Of
France shows the following changes

Fresh advances TO the Sthtt, @"V'VVv'VlV
francs.
BERLIN, May 1.-THE weekly state
ment OF the Reichsbank for the week
ended on MAY 7 shows the following
The New York herald., 1921-05-13


II o
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-06-23
THE ANGLO,JAPANESE ALLIANCE

Er,vat a. w., be- with specific reference
britain and the plain that Britain
renewal OF objectionable to this country
anything '''
Especially Premier Lloyd George IN his Ae
opening cooperation with America the eaFa'
much As by reason and '0r'"n" sense me ~ ~
pressed appare"ttha' the natural " be-
political alliance that may DO
..her OF
OF the alliance with Jaan
the world war because OF
the Far East and because Britain "'"'S 10 "
Pacific and the Far
Australian and New ZH"' soldiers EUROPE ~
had not been for these
been able t" hold out until the 'F
OF American forces
These are excellent position Of the United
States this country IS clearly
Tho treaty is NOT
adopted New """and ana AUS"
amendments India Is against the pact put
underso will make protest
The Ango-Japane So 1907 It ou'
| - r. y,. a,, Germany d.yriylnr fruits
the contract
ing parties 70 MAINTAIN .tsno o. Kor., In case either
powers attacked ITS ally "h'" wa" 'a 70 ~ W
remained neutral In the
var Of
eliminated The
either nation should he attacked " any 0's' ~
in defense OF KS territorial f
interests assistance 1t also recognized
Japans in Korea
In 1911 the renewed with only change This wa
arbitration with third
power should entail obligation upon either England
Japan with whom such arbitration treaty was
force The arbitration treaty with Eng
land but February regard the Bryan agreement
.,,,rv o,s VAR for consideration such treaty
tn. British dutntons aIn" be renewed at all
the language regarding 'nH "' , I 49,. a,a ,-. Pacific
the as our own and they nue." prefer ~
n,wi,hth i cuntr : Japanese
Present will be adjusted satisfactorily 70
all concerned
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-06-23
IRISH sEA-GOING SUBS ?

The story Of the Irish navy which
was circulated several months ago has
been revived IN new form. 1t IS now
asserted that there are two submarines
In the service OF tho Irish republic,
operating between the United States and
Ireland on these subs. tho story goes.
the Irish visitors to this country have
come and gone.
OF this interesting story Z may he
said that II is not impossible. but Will
be received with considerable" skcpti-
cism. Submarines capable Of crossing
the ocean are not exactly rar". hut they
are by no means plentiful II the Irish
republic has two and Others avall1hl","
rs - claimed. where did II get them
It may be assumed, too. that X the
Irish were able TO get oc"an-tourinE
subs. they would be able to got som"
carrying tornedors and guns a. easily
A. the passenger Cr,tt. Possession Of
such undcrsra warcraft by the Irish r.
public would mean attacks upon British
warSh!pS. and no such attacks have ~
yet taken place.
With a ltttle assistance. Il x not "a
d,GIculc matter FOR irish officials 20
roach or leave America on regular sur
face ships. Fer these reasons. the world
may be pardoned douh: IN the subject
~ ocean-go!aS subs IN tho service OF
the Irish republic.
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-06-23
THE CHAMBERLAIN CASE
AGAIN

The famous Chamberlain case is {"
be given another airing. This time the
senate naval affairs committee VIII un-
dertake 70 find out whether Captain
Edmund C. Chamberlain was remaining
when he told OF a remarkao'" exploit IN
France, or is one OF Americas Srea'"St
and most prosecuted heroes
CAPTAIN Chamberlain Il will be re-
called. told n story which. II true. puts
him in the same class a. Sergeant York
Who captured some l6j Germans single
handed. He said that while he WAS on
a rurlouCh he borrowed a British arr
plane and. while flying alone. engaged
In battle with squadron OF twelve
German planes. OF these he destroyed
five, he said damaged TWO others. scat
tered q detachment OF German soldiers.
landed and captured German by pre-
tending that his compass was bomb.
and then carried a wounded French SOL
der 70 SAFETY.
Regardless OF tho result OF the COM
Ing probe. II must DO said OF Captain
Chamberlain tina, II he did tell lie he
told good one. IL found guilty. he
should be given job IN the weather
bureau Seriously, It does not seem
possible that any man could perform
such an unprecedented exploit without
being able 70 produce positive proof.
An air battle in which five planes w"r"
shot down would almost certainly hc
seen by somebody. aCd now THAI the war
IS over tho records ~ the German air
service would be available 20 show
whether such combat ever look place.
So far. Chamberlain has not been able
20 produce any Cu-rohorat'on OF hiS
story. but maintains thar II - true.
British officers denied that he ever boc-
rowed q plane but he contends that th"y
did that TO protect themselves. as they
would be subject TO punishment for hay
ing loaned Il. That does not sound on
tirely plausible" To lend 4 plane wouIl
be 4 breach OF regulations. no doubt.
but not serious one and c"i.,l De con-
doned II Il resulted In such destruction
to tho enemy.
The case Is perhaps the most remark
able growing out 81 the war Despite
tho fact that Cham heria,n cannot prove
his story. Il !s believed hv some. and
certain circumstances seem 70 give Il
color Cooperation Of both the German
and British governments should DO
sough, In an effort 20 ascertain whether
this OFFICER - one OF The nations great
est heroes or greatest Munchauscns.
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-06-23
BY MARK SULLIVAN
National Political Correspondent OF
The Intelugoncor)

WashinEtou. June 2-.--Th"re - n"
other surprise IN Washington 50 great
as the failure Of :Gr senate to take
power and achieve action. The theory
upra which the Republican PARTY, I
yer arv. laid oUt the future was tina;
the country WAS to be run by the senate
That theory had its origin largely In
resentment by the senate itself against
tn" degree of power which the Whit"
House. under Wilson. had acquired.
Wilson's power was acquired. 10 SON"
rN,rn;. 10. IN" force Of his own pcrS H.
s,.ouul;ty. and To some extent 10y ths
Willingness ut Con@rcS~ e. give the
President unusual power ~ an Incl
dcri ~ war With the ending OF n"
war. AMI with the unsatisfactory way
in which the government; WAS managed
t"c:,uSe Of Wilson's Illness. th"r" Wa
diSlpproval Of this condition 10y tn"
public strong :s.rntiU"'t ot Il 10y III"
scn..;c. and u determination IN n" s''"-
ate'S part thut IL th' 0cw adulniStr"-
tio;. thu White Hnu~" SHOULD surrender
much of It's power.
The talk during the r:Sr'Aign Of
"srnatc oliGarchy' WAS no. wholly 4
car Na!rn slogan invented ny the Demo
Gratis There waS dehuit" expectation
on the part OF the Republican leaders
and On tho. part Il many republican
senators that with Harding In tie
White House IN" senate should take
hac, it's ancient prcroEativ"S. ana that
there should b" no interference" from IL
White House in the Legislative end OF
the government.
Fut as things turned ou:. the senate
olicarchy d.r,a"t.v docs MT run Hard.
ing I: do"sn; even run ~" senate
DO hp In
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-06-23
RIPPING RHYMES
A DECADE.
1Y WALT NASoH.

Ten years ago the world was rat.
and basking amply in it's grease: We
laughed until we sprained a Stat when
sctrs foretold the end Of peace. And
Wilhelm changed his uniforms, was
pho,ographed twelve times day. and
courticrs, in idle swarms, admired the
war lord on his way. The weary poet
scratched his head 10 think up topics
for his rhymes and then the fooN>h
books We read had faked-up wars IN
Zenda climes. Tho voters bought their
band-me-downs, and knew the dyes
would never fade, and women wore
their ample gowns and kept their
ankles in the shade. The railway
harons walked in state, like princes oi
the royal blood, and now the row they
raise IS great. and they confess their
name is Mudd Ten years ago l hireo
Jim Jones, and paid him thirty cents
an hour: and now each day he draws
ak bones. and such 4 stipend makes
him sour. And RusSia's car. ten years
ago, still wore his crown upon ms
brow; somewhere beneath the northern
snow his battered bones are lying now.
The world Is not the same old place.
rs teeth are loose. It's lost It's hair, II
has been shaken to Its base. and noth-
.ng's right side up with care. And
brwail the dear dead days that snail
return no more, alas! when We AL went
our routine ways and cut the old ac-
cuS1Dmed grass.
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-06-23
REvOLUT |0NARY CHANGES IN
OH|O'5 STATE GOVERNING Mt

marshal, $500, md superintendent OF
Insurance. sJ10n.
Highways and Public Norks-Statc
architect and engineer, $4,000: state
.hway engineer. $4,000.
Agriculture
ASriculture--t,hief Of the division Of
animal! husbandry. $500. chief OF the
division Of nSh and game. $1,000; chief
Of the division IF plant industry. $4,000;
chief OF the division OF foods and
DIARIES. $1,000: state fair manager. $500.
Industrial RaiatinnS--Chicf OF the d.
vision Of factory inspection. $4,000:
ch:.r of division Of labor and statistics.
5000; rhirf Of division Of mines. $500.
FduC:l'!un-- Chief Of division of ex-
amina ton and licensing. $500: chief OF
d!y,*iun IF i:lm censorship. $500.
Welfare FISCAL supervisor $4,000:
superintendent of charities, $4,000. AMI
superintendent Of pardOrs and paroles.
$1,000.
IL tie directors may name advisory
boards to their departments Or any sui
divisions.
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-06-23
PRESIDENT BEING URCEDTO
STIR CONGRESS To ACTION

ana spr,w!!ng inaction on IN" part OF
the Legislative end % the government.
one OF TWO th!:.cs riU~t happen: Either
tho delay and !ractlOr on tho Part ~
congress Will continue. or else lIMrd!ns
mus; take he responsibility for leader
ship IN the Legislative brunch.
This - a rcrurnant alternative for
Harding 20 face. He was in tho senate
during the years when much OF Its
power passed L. Wilson. lie shared the
~,r4tr resentnrC, against what ne anil
his associates cai!"! ""ne-man govern
iuyut" Deep 'hourh Hard!ngs preju-
dice must be against White House lead
rrship Of the !. E!slative branch OF IN"
government. Washington era y
agrees IL will be necessary 1or him TO
take the step II the huuse and senate
are to we hurried into action.
President Harding undoubtedly feels
that he has attended e. Ms end OF the
government with faithfulnrss and rea-
sonable speed Barring foreign affairs,
nobody utters any complaint against
the speed and efficiency with Will n
things have been accomplished D.
Harding and has cabinet within thei-
SPHERE And cen rs to foreign affairs
there is Il general disposition TO lei
IIa riding have all the time he wants In
Thu difficult field.
The approval OF what has been ac'
co,nplishcd by the executive department
Of the government - as marked as III"
diSl pproval Of IN" delay Of congress on
taxation and the tariff. President
Harding Is being urged TO see himself
no, only rs the head Of the executive
branch Of the government. but also ms
hc.,G az the Republican party and &C
curntahl" for the manner In which the
EcruLllcan uarty run" the government
a4n whole There * little or no hop"
that the greater promptn"Ss or action
which the country wants can be accom-
p!isncd in any other way.
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-06-23

cartoon pictures better than anything
else in the humorous line. think they
are immense. Can some picture thenter
man tell me where they have AL gone!
Some times still SEQ cartoon intro
ductton 10 n picture but never a real
cartoon comedy any more. II they have
been deliberately abandoned. think
that Is big mistake. for they make
the tired business man Forget his
troubles better than anything else. l
never laughed so much in my lne as
Aid at those cat pictures by Tad.
Hoping to see some Of this kind OF
shows in our local theaters I remain.
"A Movie Fan.
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-06-23

that the Niagara river be damned four
miles below the falls. H. says that
eight million horsepower. the equivalent
OF eighty million tons Of coal. could
thus be developed annually.
Development OF power from water
above the falls has been going on for
number OF years, and has reached the
point at which Il cannot be extended
further without seriously marrinG their
scenic beauty Everyone who has S""n
tho gorge h"iow the falls is aware that
the power Of the stream there, as we'll as
above. Is tremendous. To harness tn"
waters there would not be open 10 the
objections raised against 4 similar ac-
tlon before they have passed over the
falls.