davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1921-03-19
.SPECIALTIES SHOW
LARGE ADVANCES
In 9TH big" DAY
Session Shows Marked
Strength; Prices at
End Are Best.
CALL MONEY DROPS
Financial District Optimistic
Over Outlook in Rail
Circles.

NEW YORK. March lS.-For the
fourth consecutive session the stock
market showed pronounced strength
today with gains running from !
to 4 points. The maximum sd-
vsnces were recorded in specialties.
The upward movement was most
pronounced in the afternoon and
final prices were around the best
While the bulk of purchases were
attributed to the short interests,
some OF the large commission
houses reported an expansion in
business. The tobacco shares failed
to participate in the general i'm
provement, although the outlook
for those companies is considered
very promising.
Call money renewed at per cent
on the floor Of the Stock Exchange
and before noon dropped to 6 per
cent, where IL closed. Outside OF
the exchange loans were made on
call at 5iz per cent. One very
large institution loaned funds for
thirty days yesterday at per cent
A belief is growing in the fnan
cisl district that railroad employee
ultimately will submit TO the pro-
posed reduction in wages and for
that reason there was better buy
ing in Of the transportation shsres.
Hornblower and Weeks sent a wir.
to their correspondents and custom
ers in various parts OF the country
stating: We feel confident there
will be a settlement announced OF
the labor program before Easter.
We would buy rails again after
this setback"
Pronounced strength Of New York
Central and heaviness OF Pennsyl-
vania was explained by the fact
that one substantial firm sold about
10000 shares of the latter and
bought 5000 shares of the former
Despite the semi-oficial dsnisls
there is some uncertainty surround
ing the ability OF the Pennsylvsnia
to maintain the present dividend.
At about the opening Of the mar
ket a rUmor rapidly gained circuIa-
tion that the Atlantic, Gulf and
West Indies had obtained a loan of
$4,000. 600. This story was respon-
sible for the vigorous buying Of the
stock during the forenoon. hate In
the afternoon a director denied the
story. but from other sources il wa
stated that the Tidewater oil wa
negotiating for the purchase Of
some of its tankcrs and oil property
and would thus supply the funds
needed by the "AGW,"
Purchases Of odd lots of shares
by investors. many of whom are in
v,s.ing for dividend return as well
as probable enhancement in quoted
market value. continue to be re-
ported by the commission houses
that do business directly with the
public.
Notwithstanding the increased
business being done by brokeraG"
houses a canvass OF, some 81 tn,
most representative firms fails L"
show any expansion IT. their loan
accounts. which leads to the as
sumption that most OF the buy inE
represents short covering
The Washington herald., 1921-03-19
UNION MINERS TO
RESIST WAGE CUTS
United Mine Workers Full
Force to Be Pitted Against
Action, Says President.

INDIANAPOLIS, Ind, March 1S.-
Union coal miners will resist any
effort to reduce their wages. John
l.. Lewis, international president of
the United Mine Workers, declared
today.
The full force of the organiza-
tion will be thrown behind the
miners in any fight against lower
wages" Lewis said.
Lewis made the statement in con-
nection with the national executive
board now in session here in re-
gard to the situation in Wash
ington State. where operators closed
their mines because the miners re-.
fused to accept a wage cut.
ohcials of the international
union took the position that this
action of the operators was a yio-
lation of their agreement with the
mine workers. which runs until
March 81. 1892. and the officers ad-
vised the Washington miners sew
eral days ago the union would give
them full support in resisting the
reduction. The executive board
ultimately approved action by the
officials.
fhe proposed reduction in Wash
ihgton VIII not be permitted" Lewis
said. The present agreement will
nave TO stand until it expires by
iimitaion. The same action has
peen taken regarding proposals for
reductions in Southeastern Ken
lucky and Tennessee. The agree
ment viii be protected with the
Iui force Of the United Mine
Workers"
The Washington herald., 1921-03-19
Considerable Call
Money! at z Per Cent

NEW YORK, March 1S.-A con-
siderable, amount of money on call
was reported offered at the Stock
Exchange early today at the per
cent renewal figure. Outside money
was reported lending at 5h and 6
per cent. Time money was Y per
cent easier at quotations of to
IA per cent for all maturities. Re-
Gently the rates were firm at 7a7h
per cent for good mixed and 7Aa
IA per cent on industrials. The
gold imports logically have a IA
vorable influence on the money
market, and there continues stead
iiy a liquidation of credits. Prime
bank acceptances are in good sup
ply and demand at unchanged quo
tations.
In mercantile discounts. the min
imum except in certain country
districts is IN per cent in the West
and Southwest, some paper is be-
ing discounted at IN per cent.
The Washington herald., 1921-03-19
INSURANCE STATEMENTS
STATEMENT oF THE CONDITIONS OF TIE
COLUMBIAN NATIONAL
LIFE INSURANCE co.

Of Boston. NassschUseIJs, % the Slst d!
Of Ilecember, ly3D. required under une
District OF COLUMBIA Code, amcnoed 'Hhe
50. isOs. and August II, 1911.
CsritaI STOCK .... 81 .Oou,oN"
capital stock, paid
up. IN cash. OeV.0s"
The Washington herald., 1921-03-19

Playable in French francs.
The Washington herald., 1921-03-19

hay, s27 ton; No. l clover mixed
S25 ton; spring wheat bran, s31 80
ton; winter wheat bran, s32 tom
standard middiings. ss1 ton; aour
mtddlings. $33. ton; cottonseed meal
(ss per cent?, s35 ton; gluten feed
Sf4 ton; hominy feed (white). san
ton: Flour: Soft winter strairh,
uto lbs. jute) $3.50 to $3.50 per
barrel; hard winter straight ffIo
lbs tute). $3.50 to 1926 per barrel !.
fancy spring patent (famiiy brand,
ss.7s to ss.55 pei barrel; No. 2 whSts
and No. yellow corn, ssc ner
bushel tbags extra); No. wbife
oats, b5sc per bushel tbars ertraSs
Jobbers prices in ton lots or more
terms cash at dealers wsrchouses
range mostly from 81 to - Der ron
over local market prices on Nav Ana
A.
The Washington herald., 1921-03-19
Unemployment Increases
OUer February, Last Year

Unemployment increased for all
industries during 1921 compared with
last February. the Department Of
Labor announced yesterday.
The greatest unemployment was in
hosiery and underwear factories,
automobile plants and leather and
wooien factories. The least was in
bituminous coal and cotton indus
tries
For, February compared with Jan.
uary this year, unemployment de-
creased in the wooden industry,
mems ready made clothing. hosiery
and underwear.
The Washington herald., 1921-03-19
Richmond Terminal
Receives Loan

The Richmond Terminal Railway
Company. Richmond. Va. was yes
terday authorized by the Interstate
Commerce Commission TO issue s25.-
900 in notes TO pay its part of real
estate obligations incurred by various
Richmond railroads for the new
Union Station site.
The Washington herald., 1921-03-19
Northern Railroad
APPLIES for Loan

The Buffalo. Rochester and Pitts
burgh Railroad today applied to the
Interstate Commerce Commission for
authority to issue ss.54s.ooo AZ per
cent consolidated mortgage bonds "a
The Washington herald., 1921-03-19
NY. CURB MARKET TRANSACTIONS
W. 4 Hsss u Curb Market a,.,
STANDARD OIL ISSUES
Y. Curb Market Assn.

70 Ohio Oil .......... e7oIs go go
800 tand Oil Ind. new 30 Sss. s9S.
20 Stand Oil n ". 800 3as 3.N
MINING
The Washington herald., 1921-03-19
Toledo Railroad
To Issue Obligations

The Interstate Commerce Commis-
sion Yesterday authorized the To-
Iedo TGminal Railroad Company.
q Ioledo, ohio. 70 issue s72.peo
The Washington herald., 1921-03-19
COMPLETE N. Y. BOND SALES
3. Hsbs BIas- Y steek ExeAa,<e

NEW YoRK March :.,ss
sa SSe sss,a.s .nd sltlsSSS two
Following a toda, ro. ,.. =, ..,,
security and the high low and closing prices
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20
BIC BUILDING PROGRAM
PLANNED IN NORFOLK
More Than S5DO.OOO Worth of
Buildings to BE Erected
Within Few Months.

NORFOLK. VA. Feb. l9.-Morc
than 100000 worth Of new construc-
ton work is contemplated here with
in the next few months. according to
announcements having been made in
financial circles. y two-story ware
house. TO cost 100000: an apartment
house. to be six stories in height. to
cost Approximately $1,000 and "a
store. which IL i estimated will cost
more than 5000, 600 when Complct cd.
are the three largest Items contem
plated,
The name of the owner Of the
apartment house which is to be
erected has not been divuleed. but
the plans. which are being drawn up.
call for twelve family apartment
located in the heart Of Portsmouth.
Philip - Moscr is the architect;
Lowcnberg. Goodman Corp. Will
erect the store. which will be n two
story affair with a mezanine floor
S3Nl15 feet. located on CRANKY street
between Tazeweil and College Place
Poebles & Ferguson are the archl-
tccts.
Two synaeogues. 10 cost approxi-
mately $4,000 each. one OF which will
he erected in Newport News. are now
being contemplated here. and Il. r.
Spisel. architect, j. now drawing
plans for both buildings.
Name Of the owner OF the ware
the architect drawing the plans is
Philip II. Moser. The building will
he 1o0N220 and Will be located or
East Main Street
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20
NEW REAL ESTATE AND
CONSTRUCTION CONCERNS
Corporation .ComnIssi",, Grants Chnr-
tcrs Ia Many Firms In

The Macbeth Corporation. Roano:<c.
Capital-maNimum S50.0o0: minimum
$4,000. Onicers-S. l.. Pace. pre.,i-
dent: c. 5. spindle. secretary T.. r. T..
Easley and W. J.. Rowling, all OF
Roanoke. Object: general real estate
business.
Apex Corporation. Norfolk. Capital
= MA y!mum. $1,000. L. y. Willis,
president; Daniel Coleman. secretary.
AMI r. T.. Martin. all OF 'iorfu'k. OH
ject: general real estate business.
National concrete CONSTRUCTION
Company. In". Victoria. Capital
maximum. $4,000. y. n. whclp!ey.
president. Wilmington, y. c.: G. l..
John q. Leland Jr., Richmond. OBJ
ject: general construction business.
Amendment to charter of Poca-
hontas Navigation Company. Inc.
Norfolk. T. +. Farrell, vice-prcsiden,.
and H. r. Hawthorne, secretary. Oh
ject: charging its purpose and its
holdings of real estate.
Nentosa. Inc. Norfolk Capital
ma imum, $4,000. Paul 7. Collins,
president: &. T.. Townsend. secretary,
and c. Earle Townsend, al of Nov
folk. object: general real estate
business.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20
MOODY TELLS BANKERS
FUTURE OUTLOOK BRIGHT
Far Values Are Being Ite-i;s.ab-
Iishcd, Financial Expert Tells
Richmond Chapter, \. l. B.
PAR VALUES ARE RETURNING;
Investment Situation Improv $
Greatly, and as Conditions Re-
adjust Themselves Basic Values
VIII Right Themselves.

'uFIhS the next ten or tweniy years
HhbstaNtlal. non-spcculativc stocks
.Hh hohus VIII become again the good
Investment ihcy have been Il, the
past: ana pnr values viii once more he
established. according To John moody.
financial expert. who wya in Ricb .
mpnd last Week 10 address Richmond
INK.
SIR. Moody looked upon the invest
W.ht situation In q very optimistic
.iGht and said ~ things come back
10 normal. normal values TN the real
sound and established commercial en-
and benefit
Although NOT specifically mention
ing railroad stoCiS. except MS an IL
luStrhis"n. his speech led littl. to he
doubted ~ to his opinion Of this In
Ecs'mcni as future dividend pro-
Queer. He said. In answer to qucs-
t'chs asked him hy members OF I'll.
p.nhFylNania i:niiroah. whDc losing
money last year. must u. considered
~ being Under private ownership hllt
hvc months. aud that. while .ndicn-
LIONS wcr" d"Fpcrntc fight must IL.
Nan" this year 10 pat the property an
Il paying basis, he believed the end
"f it2i would set the road making
declaring sid" OF tn" ledger. This
statement WAS made in direct answer
70 pucsiions put go him by the mem
nrrs OF IN. organization concerning,
this road IN particular.
Mr.. Moody stated IL as his belief
that TIA" only stocks and bonds whose
future was doubtful. or depended up-
what Is known as spcCulatiy. invost.
m,ntS.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20
TWO YEARS OF BUILDING
PREDICTED BY HAWKINS
Ac,isu, ard Constructinn Line Can
net Wink" III Deficit Soon.
Say. Ntultor.

believing III. people have go,
down to Garth again Ircal esta,e) ar
arc coming under "A secondary in
hucnc", @. :. Hawkins. whosc oh
Scrvaticn and experience is large d.. :
clares tina, all possible activity In
building can hardly make Up FOR the
deficiency III Richmond and vicinity
within one or two ycnrS This fact.
he SAYS, ought - stimulate huy:ni,
~ thos" Who want a home and are
In position Ia pay q reasonable
a'nouti or tho purchase.
The position 10 regard TO uniln
proved land Is subject 10 change as
building protests ar" Developed Lots
d-Araaly ioCstcd. said Mr. Hawkins
ought to IL" good Investment propo-
Whenever Lively ADMINISTRATION in
building is started, he says II Will
located lots Of land
Ihcrc are certain sections In the
city toward which the eyes and at
tcntlon Of buyGrs are already direct eel
which nromisc enhancement in value
says Mr. Hawkins This IL true az
property OF Graz. street. Those WHO
are In position TO buy and are VIII
ing and can afford 70 wall a reason
able time for return on their Invest
mcnt without being cranped ar. sure
10 be tho winners II they get IN now
Just before the tide starts to nood
Just "a Fi!th Avenue. New York
came 70 the relief OF crowded Broad
way. SO. too, VII! Grace Street serve
tiIiS purpose In Richmond"
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20
Predicts Investor Is Coming Into Own
Law Would Stop u. S.
Acting "World's Banker :"

William a. Law. president of
the First National Hank, OF PhiIn-
deIphin, In the monthly financial
"utiOOls letter, published by the
Institution. makes the following
stntcncnt,
So long NV the United states nets
ns banker for the rest of the world
md the government itself Is II fire.
Iucnt marked borrower there will
be mo permanently easy money I'm
sight. The foreign demand for
credit nnst continue fnr In e1-
cess of the supply released
through the reduction of 0utstnnd!
inH Indebted ness by private do
mr.tic borrowers. This situation
viii he corrected In time, however,
but IL IL apparent that thorough
going relief must await the sUIu-
lion Of the foreign financial prob
lens which are stili big factors
In the outlook. This country hnn
grown ~ individually Within the
iast seven yenrS that sustained
prosperity * dependent upon de-
vriopinE foreign markets for
American products md merchan-
disc.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20
RICHMOND TO HAVE NEW
100000 SUNDAY SCHOOL
Broad Street Methodist Church,
Plans Extensive Building
Program.
BAPTIsTs PLAN NEW HOME
w. ;. Forbes Donates Lot Embrace
ing Entire Block to Trustees OF
institution-Will Cost Approxi-
matcly S1,OOO,0OO.

fians for constructing n new Sum
uaE school and up-to-date community
mouse. as we'll as completely remodel
ing the present structure of tho
broad street Methodist Church, n, n
cost OF 100000, were announced yes
terday by the pastor, Rev Fred. r.
chenault. through w. 7. Smithd,nl.
who is in charge. The old building
next 10 the church will be torn down
ana the new building erected on the
site. This lot has frontage of sixty
deep. i'SI
The Sunday school and community
uSe are expected to be completed
about December 1. 1921. The base
'patred ut the same time. Following
the completion of the new building
me me present church will be remodciled
Lighting system will also be Installed
In both buildings.
VIII Accommodate I,5cO.
when finished the new building
WI, VIII ~, acommodate approximately 1900
for the cradle roll, beginners and
primary department. juniors, interme-
aiate and senior departments. as we'll
as Tor the young people and adults.
1t will have reading rooms and n
rest room for women with special
lounges and baths. -
'I'P''i"'c lQCflitloy for
pom men and women. with shower
baths, are being planned. A tennis
court will be placed on the roof. as
we'll as rccreational rooms -
The social hall in the new building
VIII seat between 700 and 500 people
and a large stnge for the entertain
ments to hold between seventy 1--WE
ana one hundred on the stage at a
serving rooms will be prepared also
ARRANGEMENTS are being made for
the construction OF n new home for
the First Baptist Church congrcrn-
ton to cost about s1.OO0.0oO. A lot
donated by w. S. Forbes. embracing
the entire block bounded by the
berry Street and Park Avenue, has
been transferred to the church, and
stands In the name OF the trustees
of the congregation. n
Represents St.000.OOO,
Mr.. Forbes has subscribed s35Q000
to the building fund, and it Is planned
to r2ise by subscription in the con-
Eregation about an equal sum- The
new building. lot. furniture and euuip-
mcnt. will represent an inv estment OF
! about 100000.
The new building win probably
have an auditorium seating about
$500 people. or nearly twice the ca
pacity of the present First Baptist
Church. which with It's galleries and
side rooms can seat about 1880. The
various departments and Bible class
rooms for the Sunday school will BIO
estimated at total capacity OF about
1900. y
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20
ny OLIVER ). SANDS.

Extracts from speech BY Oliver i.
Sands before the Credit Mems AS
ISOLATION OF Richmond
Cicero said: Il shall always con
slider, the hes, gucsser the best
prophet
repeat the conditions which con-
fronted business early in the
year 1920. You know better than
market on a the various ar lines OF 70 m ,ne
chandisc. in which you are inter
estcd. ana that wheat was selling at
s3.i5 per bushel. corn sl,6C. sugar
pound tBradstreet reports thirty
one foodstuns COS, S. - January II.
1920. against S3.i2 January 10. 1920
That the labor situation was becon-
ing. or had become. Impossible on
account Of wages and the output per
man. In fact. the purchasing power
OF our dollar had dwindled until it
was absolutely necessary TO bring
abou, Il change. The cost OF com
mnditics always advance in exact
proportion as circulation increases.
We had TO pay for the cost. OF the
war--particular for the war we eX-
pccted we mi ght have--so with s25.-
! 000.000,600 OF government bonds to
sell aid TO convert the credits which
the government established on the
DO pks into something which would
circulate ard pay tn: governments
accounts. tho rcserv" banks were
given the authority TO use govern
| ment bonds and gold in proportion
OF sixty and forty and to issue it's
Redemption Value In Gold.
Exchange conditions. balance Of
trade, etc. all have some bearing Oh
Fundamental thing TO be considered
is the redemption value in gold. We
know. ourselves. or our fathers have
told VIZ. what becomes OF money
f1,. .l.f u
the money gets in position where IL
is not stable. or when it owes more
than u can pay. Germany's national
debt is 3l2.5 per cent Of It's national
per cent: England. over 20 per cent.
| with our debt less than 3 per cent
OF our national wealth, there is not
debts. Notwithstanding this. how
ever. IL was not deemed wise TO re-
duce our gold reserve requirements
travaGance into which we had drifted.
for sooner or later. If the air was
not permitted to escape. the balloon
would burst, and the consequences
would be most disastrous. so the de-
fation program was adopted. interest
rates were advanced and general
! halt called.
| Twenty-Five million OF our people
invested in government bonds. believ
ing they were buying the Soundest
and snrest Investment in the world
| Most OF these ponds were purchased
by people without real money. bu;
with credit expecting ~ he given
! every possible aSsista<ce by their
| government, and were assured L.
with the duty OF placing these bonds
| that they would he helped To carr"
them, and that they could reasonably
| expect little loss and perhaps a profit
II was not possible for them to
have been absorbed by personal
| saving within the time which
! has TRANSFERRED since the war.
| That the government permitted these
/ bonds to become so deprecated
! market value as to cause Il ShrinknG
OF perhaps as much as two billions Of
| dollars. much OF which was lost by
| the patriotic people who Fought these
bonds. is. TO my mind. one OF the un-
! pleasant incidents which Will long he
remembered, and which may cos!
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20
CONTRACT FOR CLUBHOUSE
Is AWARDED TO ANDERSON
improvements mt Lakeside In Charge
af George Ingalls,. OF Building
COMMITTEES,

r. NJ. Anderson & Co. have been
awarded the contract for the erection
near Lakeside. according to state
mcnts made by members yesterday
T'hc work proposed will cost $4,000.
The building will he seventy by thir-
ty-three feet. George ingalls, is
chairman of the building committees
The Hermitage Club decided to max
the proposed improvements to the
club some time ago. and II is believed
the addition will he completed within
u few weeks The building is an
addition to the clubhouse.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20
Three Churches to Spend ST. 100000
100000 CONTRACT LET
HERE Is AMONG NATIONS
LARGEST AWARD OF WEEK

james Fox ~ Son Get Contract
According to Statements of
Trade journal.
Among the largest awards of the
week, the contracting journals of the
country. print that ST. Johns Lu-
thcran Evangelical Church. of Rich
moad, has just let a 100000 con-
tract for the erection of Church.
sunday school and parsonage. James
Fox & Son. of Twenty-hfth and
Franklln Streets are named as the
contractors having been awarded the
work
Carl NJ. Under. of the American
national Bank. is named as the ar
chitcct, in conjunction with Bascom
j. Rowlett. According to the notice
carried work will begin within a
few months. being temporarily held
mp.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20
NORFOLK ARMY BASE
WILL COST $4,000
Cong" s> Also May Authorize S.2:.. 90 %
liz FHid for Warehouses ut New
port News.
NJ" AssOcIated Press. /

.N'"''h'c" iiess'I
WASHINGTON Feb. l9.-Compl--
non OF the purchase or real estate in
certain army projects authorized BY
nc army appropriation bill of 1919,
Dut 'teId up by an amendment last
FEBRUARY, would be allowed under
= Dill introduced today by Chairman
Kahn. ot the Military Committee.
Tnc projects an dthc amount mu-
'norlz"d Tor each Includes army sup
ply base, Charleston, :. G.. ti59.O20:
army supply base, Norfolk. Va. $3.50.
'v'; 4partcrmaster warehouse. New
f"rt N"w> Va. te23.g7O: general hos
pithi 40. ~. AZale:i. y. G.. $4,000: for
site FOR septic tank. Southern Field.
-tmcricus. Ga 1850
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-02-20
w. B. SUTTON is AWARDED
PRIZE IN HOME CONTEST
Other Successful Ones Are Miss =. NJ.
Houston and Miss
Annie Vi. DOlnn.

Winners In the second of the series
OF three own Your own Home" CON
tests. conducted by The Evening Dis
patch. We're announced yesterday.
Numbers of competitors from all over
Virginia sent i'm ideas and arguments
for the campaign.
w. r. Sutton. OF 1919 Virginia Ave
nue.. won first prize of S25 in the
second contest: Miss S. NJ. Houston, OF
l05 North Fourth Street. second prize
Of SIS: Annie NJ. Dolan. 3lT North
Harrison street. third prize. $40.
Great interest has been created
throughout the city In the contest.
1t has been the incentive for the or
the housing conditions. particularly
for the benefit of the working man.