davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-06-26
REPORTS TO PRESIDENT
ON DUTCH OIL ISSUE
Minister Phillips Tells of
Fight for Concessions.

WASHINGTON, June 25.-William H.
Phillips. American Minister at The
Hague. gave to the State Department
to-day report of his efforts to induce
the Netherlands Government to modify
It's position in the granting of conces-
sions In the DJambi oil fields. He after
ward called on President Harding, but
no announcement was made indicating
that he discussed the same subject with
the Chief Executive.
Mr.. Phillips's reports to the State De-
partment are understood to have been
Substantially the same as those made
prior to his departure from his post for
a vacation in the United States Since
he left The Hague the Netherlands Gov
ernment has published its reply to the
American note, In which the United
States insisted that the Netherlands
Government had been fully Informed of
American desires regarding the oil fields
prior to the submission of the legis-
alive measures now before the Dutch
Parliament.
The State Department has not yet re-
ceived more than summary of the
Dutch reply. The text Is understood to
be coming by mail.
The New York herald., 1921-06-26
OLD CURB HAS LAST
SESSION IN BROAD ST.
viii Open Inside Market To-
n1orroIU Morning.

The New York Curb Market Associa-
ton bade farewell yesterday to its open
air surroundings. Tomorrow its mar
ket Tor securities will be opened for
mally underneath the roof of the hand
some new home built by the association
In Trinity place. just back of Trinity
Church There was no weeping and
wailing, but on the contrary great re-
1oicing. because the members of the as
ISOLATION were glad TO be able to 20
where they could transact their business
from day TO day without Annoyance from
the elements and without the bizarre
raiment which circumstances demanded
that they must affect while trading I'm
the street.
The formal opening of the new build
ing will begin at . AS tomorrow morn
ing. fifteen minutes before the opening
of the market
Il. II. Mccormick. president OF the
curb association. and J. l.. Mccormack,
head of the Curb Realty Associates. who
had charge Of the erection Of the build
ing. will address the members
Members of the new organization, the
Curb and Bond Market, which will con-
tnue to trade outside. announced yes
terday that they had been assured by
Police Commissioner Enright that no
move would be made by the Police De-
partment to Dust them from the street
after the association should have moved
Indoors.
The New York herald., 1921-06-26
To Take On Unclaimed Goods.

The formation of a corporation TO
take over unclaimed American goods
piled up in Latin American ports 10
protect and distribute the >merchandlse
is TO be recommended by the commit
tee appointed a month ago in an EXPORT
ers' meeting. The recommendation will
be Included In the report that the COM
mttee Will submit In a meeting TO be-
held in the Commodore Hotel ON
Wednesday afternoon. The corpora
tons functions, II the plan be
adopted. will be defined in it's charter
as the liquidation OF unclaimed and re-
Jected merchandise and the liquidation
OF frozen credits and extended drafts.
The initial working fund will be prob
ably cash advance of not more than
10 per cent OF the original c. /. Z. value
OF the merchandise. and shares OF capl-
tai stock will be issued for cash ad-
vanced. Absolute title to the merchan-
disc viii be transferred to the cor
poration
The New York herald., 1921-06-26
FINANCIAL NEWS
AND COMMENT
All Active Stocks Advance in
Stronger Market-Rails
Lead Movement.

The strongest market of several week.
occurred in yesterdays short session or
the New York Stock Exchange and all
active stocks gained point to more than
8 points. The advance was due to short
covering for the most part, but there
were three important news indications
which may prove to be of constructive
import. In the first place the weekly
statements for the New York Reserve
Bank and the reserve system showed
great Improvement In position aud indi-
Gated that more liberal banking credits
would be extended from now on. Sec
ondly banking interests are informed
that the United States Railroad Admin
istration Is about to take action to i'm
prove the railroads cash position
through funding capital expenditures,
and the movement in rails resulted from
general acceptance of that report
Finally. the announcement that the
striking miners in Great Britain had re-
quested conference, expected to result
In settling the strike, which had affected
Great Brttain's financial position more
than the news had suggested. With those
developments in the background a busi-
ness Of nearly halfsa million shares was
done in two hours and active stocks
closed right at the top.
The cotton market appeared to be in a
situation similar to that in stocks. and
the July cotton delivery gained SO points
to 11.20 cents. Foreign exchanges. on
the other hand, were dull and steady.
Sterling gained half cent. The New
York Clearing House statement disclosed
further contraction in loans. reducing
them s14.4s3.ooo to $4,5eo,o25. 900.
Shrinkage In deposits was even greater
demand deposits falling s46.43s, 900 and
time deposits s1s.543.00o. Despite de-
crease in deposits surplus reserve de-
creased $2o.43s.2oo. United States de-
posits stand at s222.311,o 900 and rela-
lively large Withdrawals are expected |
this week. In speculation for the rise
larger gains were made by American
Sumatra Tobacco and locomotive and oil
issues. Rails gained to points.
The New York herald., 1921-06-26
Husbanding Capital.

Many stories of the extremes to which
many corporations and firms are going
IN their efforts to conserve their cash
are heard. but it Iemained for a sales
man just returned from a trip through
the country to give an example OF econ
omy exaggerated to the nth degree
That salesman had just reported to his
tlrm that he had done practically no
business, that shelves throughout the
country We're bare. that no one ap-
peared to be paying their bills, that
purchases were being made for only the
most imperative of immediate needs,
&c. Before the gloom engendered by
the salesman's report had left the office
head with whom he was talking an Of
lice boy reported that stamps were
needed. The manager asked how many
would be needed that day. and on re-
celvinS the reply that six would be
sufficieat he authorized ther purchase.
cautioning the boy TO buy no more
than that number.
The New York herald., 1921-06-26
Brokerage Houses BuIIiSb.

We are confident that the market
VIII give good account OF itself and
would suggest the purchase of good
stocks on all weak spots that have been
Wen Hquidated."-A. J. Johnson & Co.
Bears are ignoring everything favor
apie and quotations are discounting bad
things that Will never happen."-J. S.
Bache & Co. "On downward movements
hereafter 1t should be possible to make
purchases without encountering much
risk."-Henry Clews & Co. There are
more attractive bargains In the stock
market to-day than there have been
for years."--Morris & Smith. Profits.
we believe, are on the constructive side
or the accpint."-W w Cohen & Co
There is little doubt that the short in
terest is large and is beginning TO show
traces OF nervousness. Prince &
I'VE believe that the future
holds out good prospects for better
things. ."-McClave &c Co. 1--WE may rea-
look for a smaller speculation
with less acute pressure. Clark.
Childs & Co.
The New York herald., 1921-06-26
Paper Won't Arbitrate.

The International Paper Company has
advised union leaders that ii will not
arbitrate further in the strike question.
In it's letter the company said that the
mills had been closed for sevek weeks
and that the company as conse-
quence, has suffered large loss and
cannot see its way clear TO start up its
plants on the basis of paying the wages
That were in effect when the plants were
shut down. with the prospect of arbi-
tration proceedings lasting at least sew
eral months and possibly dragging over
a much longer period. The company
does not see i;s way clear to. accept any
proposition that does not involve sub
stantially the reduction in labor costs
outlined in our statement of May "a"
The New York herald., 1921-06-26
Class 1 Road Earnings.

The Interstate Commerce Comnis-
sion's final compilation Of the April
earnings OF POI class / railroads shows
net operating income OF s29,2 1874 saved
out of gross receipts of Si33, 357, 1879. con-
trasted with s2S.7iS,666 net operating def
lett and s402,2sl,9l3 gross revenues In
the strike month of April. 1920 Their
net operating income for the first five
months of 1921 totalled S53. .653. 493, against
S32. 151.lSl in the corresponding 1920 Pc
riod.
The New York herald., 1921-06-26
Freight Rate Reduction.

The suggestion of Samuel O. Dunn in
the current issue of the Rdilwdy Age,
that national legislators who hold that
an early horizontal reduction of freight
rates is necessary to revival of bust
ness could take n constructive step by
repeating the 3 per cent. Federal tax
on freight and the per cent. Federal
tax on passenger transportation. was
read with interest in many quarters of
the financial community. Railway off,
cials say that there is little likelihood
that the suggestion will be acted on by
the Congress. Repeal of the transporta-
ton tax was not recommended by the
Secretary of the Treasury In his recent
letter to the House Ways and Means
Committee
The New York herald., 1921-06-26
TOPICS OF WALL STREET.
Time Money to BE Had.

In authoritative quarters yesterday 1t
vas learned that plenty of time money
could be had by the fright" people. AL
though difficulty was experienced by
would be borrowers in obtaining suffi-
cient funds TO meet their needs at per
cent. it was said that money was Of
fered to others at 6ia per cent.
The New York herald., 1921-06-26
OIL CUT IN MIDDLE WEST.

CHICAGO. June 25.-The Standard Oil
Company of Indiana announced to-day
an average reduction of two cents a
gallon on gasolene throughout the eleven
Middle Western States in which II oper-
ates. The cut Is effective at once. The
new prices were not announced, the
company stating that they varied
throughout the territory. Gasolene has
been selling Ia Chicago at 22 cents.
The New York herald., 1921-06-26
Mexican Petroleum strong.

Mexican Petroleum continued again
yesterday to be the markets feature
After opening above ia. 1t sold promptly
as high as 116H. at which profit taking
appeared. Then 1t sold down TO lis.
rallying again before the close TO 117%.
Its net gain on the day amounted to
points
The New York herald., 1921-06-26
Listing Applications.

Applications have been made to the
New York Stock Exchange to admit to
It's list 100000 of additional per cent.
cumulative preferred stock of the Otis
Steel Company and sls6. 900 of 6 per cent.
purchase money mortgage 90 year cou-
pom bonds of the Brooklyn Edison Com
pany.
The New York herald., 1921-06-26
Declares Fifty Cent Dividend.

The New York Transportation Com
pany has declared dividend of 80
cents share, payable on July IL to
stock OF record on July l. In announc-
ing the dividend the company stated
that it was declared from it's surplus
as 1t appeared on it's balance sheet OF
May 81.
The New York herald., 1921-06-26


morrow.
Rodney e Co. have opened an urtown Of
flee At II East Forty-second street under the
management Of G. T.. Lyman.
Lage Bros. Co. members Of the New
York stock Exchange, have opened an up-
town office in SEQ Fifth avenue under the
management OF Cyril J. Norton.
Buy Bonds Now" Il tho title OF n cirrula r
just Issued by Dominick & Dominick calling
attention TO thirty eight issues Of railroad
industrial, UTILITY and Government issues
selUng At low prices. Tho circular points
out that bigh grade underlying rail bonds
are selling on almost exactly the same basis
as they did forty years ago.
Frank ". Hamilton. secretary and treas
urcr OF the St. Louls-San francisco Rail
way. has been elected its vice president sec
rotary and treasurer, with headquarters in
ST. Louis, Mo.
William n. McKenna & Co., dealers IN
foreign securities and exchange, have opened
a nc~ downtown office in 25 Broadway
which will be the companys main office,
The New York herald., 1921-06-26
EXPORTS FROM NEW YORK.

Exports from New York yesterday
Flour sacks. S,23aS oatmeal, bbis., 270
hops, bales. 1o7 alcohol. bbis.. 20 ba-
con. lbs. se.600 lard. lk,, $4,000
lubricating oils, gals, 12o,sOo.
The New York herald., 1921-06-26
DIVIDENDS.

Stock Of Pay
60 -, Record able.
S1.I5 ....................... - -
First Natl. Bank Of Brook
lyn, a.. June "a ruIv I
Indiana Illinois Coal Corp.
pf.. 3. n, $500. 8 July II
Magnolia Pet. Co, a., 81. .2S. June Is July :
Nova Scotia Steel-Coal pr
a.; 500 ................. June 30 July i5
~ Y. transportation Co., a.,
'vc. ..4s.s ....s............Jul 1 July Il
Public Service OF ~ j., a.,
r.bii: Service ,oi N !. pi.. June y June %
a., S2.VO.. ....................J June % June 30
The New York herald., 1921-06-26
OPEN MARKET RATES.

Prime eligible acceptances. on call, @; re-
discountable at Reserve Bank. 90 to 90 daya.
3Mn5N non-member and private BANKERS
eligible. 60 20 90 days. 6d6N; non-eligible'
go to 90 days, Sd7k.
The New York herald., 1921-06-26
LONDON MONEY MARKET.

LONDON, June 25.-Bar gold. 110s. sd.
money. per cent. Discount rates
Short bills. 5i5 per cent three months
bills. 5A as 7-16 per cent.
The New York herald., 1921-06-26
CLEARING HOUSE STATEMENT
SILVER MARKET.

Clearing House exchanges $500 500 900
balances s52 zoo. 900; Federal Reserve credit
balance. $40. 800. 900.
The New York herald., 1921-06-26

Official bar silver In New York, domestic.
e9hc. an ounce. unchanged foreign, bsxc,
up Sc; London. 35hd., up I'D; Mexican
dollars, 4I7sc.; unchanged.
The New York herald., 1921-06-26

Commercial paper. is days, 6k: 10 To et
days. 81: Liberty bonds and Victory notes
10 days, o: 10 to 90 days. 9; bankers accept.
tnces, 16 to 90 days. @.
The New York herald., 1921-06-26
SOUTH AMERICA.
CANADA.

New York funds in Montreal. si35 premium
per $1,000; Montreal funds In New York.
$1le.37 discount per 81 900.
The New York herald., 1921-06-26
FINANCIAL NOTES.

LOWS 4 Co. have completed the boa I'd
room and facilities for trading IN all mar
keis In their ne woffices, 60 Exchange place.
In which they will be ready for business to,
morrow.
The New York herald., 1921-06-26
UNITED STATES TREASURY STATEMENT
Special Despatch

Special Despatch to Tnn NEW Yo.x
New York Herald Bureau,
Washington, -. {.
The New York herald., 1921-06-26
COMMERCIAL PAPER,
DISCOUNT RATES. RESERVE RANK

Best names. 4 to O months. .... sL6
Other names, 4 TO months. ....... an
The New York herald., 1921-06-26
MONEY MARKET.
SATURDAY. JUNE %.
CALL MONEY FOR WEEK.
TIME LOANS.

Mixed collateral. 60 TO 90 days ....... 6aeh
Mixed collateral to o months ... 6f16il
Industrials. 60 to 90 days. sflsii
ihoustriais' TO months. 6Q6h
The New York herald., 1921-06-26

Stock Of Paw
Record. able.
The New York herald., 1921-06-26
NEW YORK STOCK EXCHANGE QUOTATIONS
JUNE E25 s2
SATURDAY. JUNE 25, 1921.

- 1921.
ear 20 GATE. Observation-Disclosures. SO, 10l. .O3!
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26
PAY ENVELOPE
ISLARGER NOW
81. Louis Man Works Full Time
Every Day Since Taking Tan
lac-Catarrh Ended.

i began taking Tanlac about
eighteen months ago, and in three
months from that time l was en-
Sfeiy rid OF catarrh, from which l
nad suffered for years, and Tanlac
gets all the credit for the splendid
health | am now enjoying" was the
statement made by John ]. Swatske,
wen known mechanic, residing at
'iao Grand avenue, st. Louis, Mo.
!, FOR three years l don't think
tnere was time when l was not
suffering from a bad cold caused
W catarrh. Most of the time / had
headache, could hardly eat any
hing, and my stomach was so dis
eruered my whole system became
Dauly run down. l was nervous,
never got a good nights sleep. and
oiten | felt so tired, run down and
weak l couldn't work.
But today I'm a well man and can
work every day. l took Tanlac
until it completely relieved all my
troubles, gave me a splendid appe-
ute, and fixeda me up in the best of
neaith in every way. It's the first
ana only medicine to give me per-
manent relief, and I'm glad to rec
ommend it to anyone suffering from
eatarrh and a general breakdown
In health"
Tanlac is sold in Rock Island by
Schlegel's Drug store and leading
druggists Observation-Disclosures
mentl
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26

limitations is three years. The gov
ernor's term has three years and
more yet TO run. y prosecution
means an effort on the part of the
state 10 bring the accused to trial.
The accused is not in court He
has not been officially notified any
suit is pending. He is not asking
the court to do anything with re-
spect to the case. There can be no
doubt that if the court, Of its own
motion, should order a stay Of
prosecution over a period of three
years, and over the many terms of
court that will be held during that
time, the statute of limitations
would be held to have run and
there could be not then a trial for
ohenses charged which have no
connection with the Office of gov
ernor, and which the people have a
right to have tried. The people
have rights as we'll as the accused.
and the people would thereby be
deprived of their right by volun-
tary order of the court and not by
any provision of the law.
The court appreciates the pre-
sensations that have been so ably
and forcibly made and welcomes
the suggestions, but the court
alone must decide and the court
alone is responsible for the error
OF its decision Before the presid-
ing Judge can consent to enter an
order multiplying the specific and
direct command of the legislative
department-andt that upon his own
motion and without any request
from any party to the suit-his
mind and conscience must be sat
isfied that such enactment is in
valid and that the proposed action
is within the lawful power of the
court, consonant with law and JUS
tice. They are not so satisfied.
The court can reach no other con-
clusion in this matter than that it
is not the duty of the court to or
der the warrant in this case to be
withheld from the sheriff and that
it is the duty OF the clerk to issue
the due process of capias and de-
liver the same to the sheriff. and
that it is the duty of the sheriff to
serve the same when received.
81 am quite willing, however, and
have no doubt the other officials
OF the court are willing the re-
spondent shall be permitted to vol
UNFAIRLY enter his appearance and
submit himself to the jurisdiction
of this court without the formality
of an arrest, II he desires to do so.
If such desire is expressed by coun-
sci, who seem from the public press
to be attorneys for defendant, and
a reasonable time suggested, the
court will accommodate itself 10
their wishes so that there may be
as little inconvenience as possible,
consistent with the due administra-
ton of the law.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26
ing securities accepted by the d.
rectorge Of railroads.
No AdAed RurdeH

ing securities accepted by the d.
rector-general Of railroads.
No Added Burden.
NO added expense, no added in
vestment Is required On the part OF
the government, there is no added
liability. no added tax burdens. 1t
is merely the grant Of authority
necessary to enable most useful
and efficient agency to use its avail
able funds to purchase securities
for which congress already has au-
thorixed the issue, and turn them
into the channels of finance ready
to float them
IL can readily see that so simple
remedy would have your prompt
sanction The question of our obi
cations cannot be raised, the wis
dom of affording early relief is not
to be doubted, and the avoidance of
added appropriation or liability will
appeal to congress and the public
alike.
Pending proposals for relief and
their discussion have already
brought to the attention of congress
the very promising possibilities of
broadening the powers of the war
finance corporation for the further
relief of agriculture and livestock
production. This corporation has
proven itself SO helpful in the relief
thus far undertaken, that l cannot
help but believe that its broadened
powers, a shave been proposed, to
meet agricultural needs, will en-
able it wholly to meet the nation
wide emergency. This is an i'm
polling moral obligation to Ameri-
can farming in all it's larger aspects,
and it will be most gratifying to
have your early sanction.
Asks Action.
I'm the case of the railroads there
is a moral and a contract obliga-
ton and your favorable action is
no less urgent and will no less
appeal to public approval. Rail-
way solvency and efficiency are es-
sential to our healthful, industrial,
commercial and agricultural life.
Everything hinges on transporta-
ton.
After necessary and drastic cur
AILMENTS, after narrowing straits
in meeting their financial Difficult
ties, the railways need only this
financial aid which the fulfllment
of our obligations will bestow, to
inaugurate their fair exchange re-
Viyal. Its effects will be felt in far
districts and will Danish to a large
degree, the depression, which,
though inevitable in wars after
math, we are all so anxious to see
ended"
With this message, the president
sent also to congress a large
amount of data from Director-Gen-
eral Davis of the railroad admins
tration showing the progress of
liquidation so far and treating pres
ent financial conditions.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26
MRS. ELLSWORTH DIES.

Mrs. Mary Ellsworth (colored)
aged 46 years, for many years a
resident of Rock Island, died Sun
day morning in her home, 613 Thir-
teenth street. Complications OF
diseases was the cause of death.
Surviving are two sons, Samuel
Overton of Rock Island and Joseph
Pruitt of Detroit, Mich. Three
grandchildren also survive.
Funeral services will be held to-
morrow morning in the Overton
residence, SIS Ninth street. Rev.
Eugene Thompson will conduct the
services. Burial will be in Chip
piannock cemetery.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26

than 1000 Scouts registered at To-
cal and national headquarters be-
fore Christmas.
In addition TO the campaign for
more Scouts there will be efforts to
secure new leaders and assistant
scoutmasters for every troop in or
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26

troops during the fall months are
going forward Every troop in the
city will put forth special efforts
to recruit up to the full strength
of their troops and more if pos
sible. 1t is hoped to have more
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26
der that scouting may be thorough
ly supervised.

Louisville. KY, is the largest leaf
tobacco market in the world.
The expectation of grapes from
Spain amounts to $4,000. 900 pounds.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26

OF all the peoples of Europe, the
French have the fewest children
and the Irish the most
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26
SCOUTS RECRUIT
TROOPS TO FULL
NUMBER IN FALL,

Plans for a membership cam
pa1gn for new recruits to Scout
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26
GOVERNOR HELD
AMENABLE TO
COURT ACTION

continued from First Pageo
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26

WOULD FUND
ROAD DEBTS

Continued from First page1
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26

Really a $500 value, q
just 80 of them, beautifully
colors. Wednesday after
noon only
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-26

Kayser's Fownes, Van
Raalte and Eiffel brands. ALL
colors-aH sizes. On sale
Wednesday afternoon only.