davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1921-07-07
KANSAS BODY ASKS
CUT in INTERSTATE
RATES ON GRAINS
Delegation Says Excess
sive Charges Add to De
plorable Condition.
PREPARE PETITION
Reed to Present Paper of
States Public Utilities in
Next Few Days.
PREPARE PETITION

Substantial reductions In inter-
state railroad rates on grain, grain
products and hay from the Middle
Western States was asked by the
Kansas delegation in Congress yes
terday.
A petition Of the public utilities
commission OF the State in behalf
Of the grain and hay shippers ask
ing reduction was filed and Clyde
NJ. Reed, chairman of the commits
sion. will present the appeal for the
reduced rates before the Federal
Commission in the next few days.
''The critical situation N which
the grain. hay and livestock ship
pers hnd themselves certainly needs
no statement for emphasis" the
Kansas delegation in Congress
wrote the Interstate Commerce
Commission. 1T is a matter of
great and grave national concern.
The farmers products are back to
the prewar level. which Is true of
no other group of commodities.
Adding tremendously. to the deplor-
able condition in the agricultural
section is the ruinous burden of
the freight charge which in many
cases is actually prohibitive. The
Kansas wheat crop has just been
harvested and the bulk of the move
ment must take place within ninety
days. Early relief in the matter of
freight rates is Imperative
The Washington herald., 1921-07-07
BUSINESS BODIES (!
WILL OPEN DRIVE
FOR AUDITORIUM
Chamber of Commerce
And Nj. and Nj. Unite
To Obtain Site.
NEED is DEPICTED
Harper Announces Business
Men Interested May Under
write Project

Business men contemplating an
auditorium in Washington. with .
seating capacity Of 5000 people, de-
cided yesterday to double their
committee personnel. in the hope
Of forming a corporation for the
immediate purchase OF a site. The
ac-foa was taken by representatives
of the Merchants and Manufactur-
ers' Association and the Chamber OF
Commerce at a meeting yesterday
afternoon in the Homer Building.
Robert y. Harper. who presided,
announced that business men Of the
city who feel the need Of an audit
torium will be given the chance 10
underwrite the proposition.
Several sites were considered. in
cluding the Emery Building. at First
and b streets northwest. and a site
at Virginia avenue and B street
northwest
Charles J. Columbus. secretsr. Of
the Merchants and Manufacturers
Association. declared last night thst
never in the history Of Washington
has there been greater need for
business mems auditorium. He pre-
dicted quick results.
The Washington herald., 1921-07-07
UPTURN FOLLOWS
GRAIN DECLINE
Good Rains in Western Belt
Have Little Effect on
Market.

CHICAGO. July s. Good rains
fell over the greater part of the
Northwest and in Montana and Me-
braska, but had little effect on the
grain markets. although the drought
had been effectively broken. A small
decline in wheat early was taken
advantage of by strong commission
houses to buy freely, which absorbed
the surplus in the pit, and a sharp
upturn followed that carried values
well above yesterdays finish. The
upturn was not surprising to many
in the trade. however, as the out
side trade remains very light and
the market rallies quickly after
breaks when any good buying ap-
pears, while THE bulges fail to hold
for the same reason. Threshing re-
turns on winter wheat continue dis
appointing and the quality is none
too good, due to the heat at the
critical period, so that much, light
weight grain Is reported in some
sections. Export demand was bet
ter. with Germany In the market
on a credit basis The government
report will be issued Friday and
Is expected to show smaller yield
The Washington herald., 1921-07-07
UPWARD TREND
BOND QUOTATIONS
Effect of Continued Reinvest-
ment of Midyear Funds
Makes Itself Felt.

NEW YORK. July 6-The effect
of continued reinvestment Of mid
year income was noted in the bond
market today. Yesterday the de-
msnd was more particularly for
high-grade railroad issues, but to-
day the buying movement spread
out TO embrace speculative rails as
well. The movement toward higher
prices in tho issres was concurrent
with a remarks able demand for rail
road stocks at much higher prices.
Naturally the effect of the rise in
stock Tas seen hrst and most clear
Iy in the convertible bonds. North
ern Pacifc-Great Northern JOINT
6Ls were again active and sold AT
IS. The Great Northern as. Series
A. into which the joint 6izs are
convertible. sold as high at SIX
Pennsylvania general ii2s advanced
a f-Ill point. TO 77i2.
Transa ctions during the first hour
we're heavy, totaling more than
81. 900 900. hut this pace became
much slower later in the day. War
bonds did not account for SO large
a percentage 81 the sales as they
did on Tuesday. The most active
description was the Victory as.
which sold within a narrow range
Of Yesterdays closing. The active
demand for Victory PAS dwindled
over night. and the Liberty gas
became q feature II their stead
The aus advanced more than SO
cents on the 500 bono.
The Washington herald., 1921-07-07

markets recovery. always fur
nish added impetus to the general
movement. Louisville and Nash
vile advanced 9 points within a
brief period during the second hour.
touching lis, and thereby establish
ing new high record for the year.
This stock sold up to Ill in an
ticipation of action by the directors
on June 1e in calling a special meet
ing to vote on an increase of s53.-
100000 n the capital stock. After
that action was announced the stock
reacted. but DIP to the close yes
te-day had recovered to 1I2. The
Interstate Commerce Commission has
yet to decide how much Of addi-
t:onal stock the company may is
sue in the form of a dividend. The
maximum would be 73.6 per cent on
the outstanding capitalization. At
lsntic Coast Line stock advanced az
points while Louisville was going
up s. The former owns more than
30 per cent OF the Louisville stock.
The Washington herald., 1921-07-07
rNG CORPORATIONS.

in establishing representatives ana
in adopting uniform trade methods
An important feature has been
developed in the form of uniform
trademarks. At first there was
much objection by the older hrms
to anything to take the place OF
their individual marks. The advan-
taGes of one trade mark for adver-
tising abroad prevailed. however.
and there are now a large number
Of joint brand names in use-cover-
ing such products as steel, paper.
lumber, meat and milk.
Most bankers and manufacturers
insist that permanent improvements
in American export trade must be
worked out by private industries
with the minimum Of government
intervention. The Webb act export
associations combined with good
financial organizations to provide
credit for sufficiently long periods
offers a way for those who prefer
this plan.
The fact that exports of many
agricultural products did not share
in the general decline of exports
in May compared to April this year
may in some degree be attributed
to the activity of the agencies
mentioned. Cotton exports increased
in May over April by $4,000 bales
The Washington herald., 1921-07-07
COTTONCONTINUES
Dull and LOWER
Reactionary Movement at Liv-
erpool and Fresh Hedge
Selling Responsible.

NEW YORK, July 6.-There was a
dull and lower cotton market here
mainly from the effects of some
reactionary movement at Liverpool
from profit taking there and also
some fresh hedge selling. Futures
there closed quiet and steady at a
net decline Of Z to 10 English points,
against what should have been un-
changed quotations to have met our
closing prices of yesterday. Private
cables simply said that the better
weather and crop news from this
side had inueneed the setback from
the marked strength and sharp ad-
vance which had developed in the
market yesterday. Here traders fol-
lowed the Liverpool fluctuations and
sold contracts freely from the open
ing, in liquidating purchases made
Yesterday while others who had
covered on the advance then were
putting out fresh lines of shorts.
The maximum decline ih-prices
here ranged from IS to % points.
from yesterdays closing during the
forenoon with July going of to 11.66
against l2.41 for October of the new
crop, December. lass, and January
l2sS. The weekly government
weather and crop bulletin issued at
noon was generally regarded as the
most favorable reI ort issued so far
for the season, and as the weather
over most sections of the cotton
belt continues in the main all that
could be desired for the proper de-
velopment of the crop there was a
good deal OF selling when this re-
port came out. There were also
notices issued for the delivery of
about 1000 bales of cotton on July
contracts. This weakened the July
option and its price went off the
most. In the last hour the market
was rallied on some new buying
from local and Wall Street commits
sion houses Influenced mainly by
the sharp rally in the stock market.
This rally continued until nearly all
OF the loss of the forenoon in the
general contract list had been re-
covered. r-
Southern spot markets were quiet
today and mostly unchanged. Ex-
port clearance. since last Friday
have been very heavy. They have
been due to the fulfillment of con-
tracts for shipments for July. They
amount to $4,000, bales so far this
week against 40.067 for the whole
of this week last year. There were
some favorable, showers for the crop
in parts of Georgia and also in
Jacksonville and at few points in
South Carolina. II was cloudy in
those sections and also in parts of
Northwest Texas. Elsewhere skies
were generally clear and while tenn
reratures were high they were of
the seasonal average for July
weather in the cotton belt. The re-
ceivership for a small textile COM
pany at Lowell. Mass, reported this
afternoon only received passing at
tention. As a ruie reports from the
dry goods district are now showing
some Improvement over the recent
dull and saggy conditions.
The Washington herald., 1921-07-07

than suggested a month ago on both
winter and spring wheats. Cables
indicate that the European wheat
crop this season is 10000 to 100000
bushels in excess Of last year.
Corn and oats were lower early.
but rallied quickly on scattered
buying. There was some selling of
July and buying of September corn
by a local cash and elevator inter
est which put the July to a dis
count. The greater part of Illinois,
Iowa, Indiana and Ohio remain dry,
while temperatures are still. rather
high, but SO far there are very
few complaints. Country offerings
were only fair. and Eastern demand
slow, with the movement holding
up very well. There was some bet
terment in cash. grain prices as COM
pared with the July. 20
Provisions were firm for lard and
easier for. ribs, but the market act
ed rather firm with a fair class OF
buying.
The Washington herald., 1921-07-07
Guaranty Trust Co. !
Issues Statement

n. Guaranty Trust Company
Of View York has fssued . eon-
eused statement, as of June 30,
.hewinx total resources ef $73e,-
ooS. $50. 90, with capital, surplus
and undivided pFeAts aEgreEsr-
ing SS5,545,373.s<, and deposits
Of ss34.4ee. .074.33. Substantial
reductions are nsted In the cen-
pany's rediscounts with the Fed
erai Reserve Bank, new agEre-
eating s4s.31I .355.Si. as cenpaF-
Cd With SsS, ,4s8. .s45.0o On Febru-
ary Is Of this year. the date Of
the eompany's Last Dreyisus
statement. and present ouistand-
ing aeeeptanees In New York. aad
foreign ofiees Of 334,So3,l77.7O.
as compared will. ess73f.s20.4S
ON February -. TIE Agure Of
undivided proAts sf sS,54S,372.A
IN arrived ut after charging or
determineA lssses and setting
aside reserves for future csntin-
geneieae
: Compsratsve Aglres Of the M
divided proAts sccsunt Of the
company, n sf June 20, fer tie
past three years are Given ~
feuowss .L2
June %, 1920. .ss.sso,sss.c4
June 80, 1870. 4.47s.s7e-63
June 80, 1915. ISIS ,361.51
The statement shows eash re-
sources of s146.oOs, ,5so.7T.
The Washington herald., 1921-07-07

In addition to the above may be
mentioned the Foreign Financing
Corporation. yet in process OF or
ganization, with a projected capital
of 800, 100000.
The recent report of the opera
tions of export associations organ
lied under the Webb-Pomerene act
as administered by the Federal
Trade Commission furnishes some
interesting comparisons. The Weob
act was passed April 10, 1918, TO
permit concerns to combine for for-
eign trading without becoming Vlo-
lators of the antitrust acts. UP
to the end of the fiscal year ending
January 80. 1919, some ninety-two
concerns filed statements. repre-
senting members numbering S4V
firms. The summary of export
business done for the calendar year
1920, just announced, is s221.O00,OOo.
This includes the business of forty
eight associations exporting to
nearly all parts of the world.
In the total exports were in
cluded a great variety of products,
steel. copper. cement, lumber, food
stuffs. machinery, etc. In working
out plans for selling abroad the
industries concerned have been led
to cooperate in many particulars
in surveying the foreign markets;
The Washington herald., 1921-07-07

thorized to issue bonds secured by
it's own assests. Only one issue of
5000 100000 was made on April i,
1919, and retired April l. 1920.
Amendment of the War Finance
Corporation act has been suggested
to make it's requirements more
favorable to the borrower and to
enable 1t to serve the purposes for
which several other proposed gov
ernmental export agencies are de-
signed.
The development of private for
eign trade financing corporations Is
indicated by the list gathered by
the Federal Reserve Board which
is as follows:
The Washington herald., 1921-07-07
ELeuen-Cent Reduction
In Gable Rate to Brazil

NEW YORK. July "a reduc-
ton Of II cents a word in the rate
from New York to Brazil is an
nounced bv All America Gables, Inc.
as effective beginning tomorrow
duly -. The new rate OF So cents
a word. a cut from IS cents, applies
to messages for both the compa-
ny's stations at Rio de Janeiro and
Santos. and is in direct line with
it's policy Of providing for the
cabling public Of the three Ameri-
cas- the maximum Of service Tor the
minimum Of cost. Oncials OF All
America Cables. Inc. believe that
the reduction Of IL cents WORD
will be a distinct stimulus 60 trade
relations between the United states
and Brazil.
The Washington herald., 1921-07-07
M. e T. L. Railroad
Secures Obligation

The Interstate Commerce Com
mission yesterday granted authority
to the Minneapolis and st. Louis
Railroad Company to issue 3714. 900
in per cent gold bonds. The rail-
road had requested se,oss.e0o for
the purpose of reimhursing It's
treasury for expenditures made for
retirement of equipment obligations
and for additions to roadway and
structures.
The Washington herald., 1921-07-07
(By The Washington

The proposals of various plans to
facilitate export trade continue to
receive a large amount of consld-
Grafton both by bankers and, Con-
gress. Efforts to organize a farm
ers' export corporation with means
to extend credit amounting to hum
dreds of millions of dollars keep
the subject constantly agitated in
business circles.
A review of present agencies,
government and private, shows a
considerable volume of present and
prospective business. A year ago
the revival of the War Finance
Corporation was urged, largely on
behalf of farmers, as the best
The Washington herald., 1921-07-07
METAL MARKET.

NEW YORK. July ga sharp de-
cline of f2 15s is reported in Lon
don tin prices. spot being quoted
at f169 los and futures at fi7l los;
sales, 100 tons and $50 tons. Spot
standard copper Is 5s lower. at f7z,
and futures 2s Sd lower. at f72 IS
6d:- sales, 100 tons and $50 tons.
Eleetrolytic Is unchanged. at Els
'1os. Spot lead " unchanged at f2o
IS. and spelter los higher, at fss
lis Sd.
The Washington herald., 1921-07-07
TIMELYWAIL STREETTOPICS

NEW YORK, July e.-After Q brief
period of hesitancy, during which
the Mexican oil stocks sustained
further heavy losses, the whole mar
.ket started upward and continued
that trend without serious Interrupt
tion right up to the close. Thc
net result was gains of 1 to S points
spread over a broad list of stocks
and even greater advances in spe-
cial issues which had harbored a
large short interest. Each group
had its leader 1t was Baldwin in
the equipments, Louisville and Nash
vile in the rails, Studebaker in the
motors, and Crucible in the steels.
The Hill road stocks came into
prominence in the afternoon. After
selling as low as SIN in the early
trading. Mexican Petroleum re-
bounded about ten points. Pan Amer
lean recovered more than points
from the lows of the first hour.
On the whole. the rally was the
broadest Wall Street has witnessed
since the end of the seven weeks
decline.
A rise in Studebaker appeals TO
the Imagination of traders just as
strongly as decline in Mexican Pc
troleum did in reverse fashion be-
fore that stock was segregated from
the general Industrial list. Stude-
baker was the stock which started
today's sharp rally. In the early
trading, while the average indus
trial stock was scarcely doing frac-
tionslly better, Studebsker was
showing the effects, of big de-
mand. when IL broke away and
climbed rapidly. the rest Of the list
followed along. One OF the reasons
why :he shorts have not been able
to attain complete success in theiI
attacks on :his stock lies in the
very substantial fact that the Stu
debaker Company is manufacturing
and selling cars. 1t was reported
today that the company sold 45l
cars in trc New York district dur
ing June. as compared with eighty
two in juno. 1920. Sales in this
district during the first six mont his
Of 1920 totaled 1853. compared with
655 in the corresponding period OF
1920.
In point OF activity today's stock
market was in pronounced contras,
with yesterdays. Sales during the
first two hours were greater than
in the entire Tuesday session. II
was around the end of the frs;
| hour shat individual transactions
began to run into big figures. The
active industrials came out on the
tape in long strings, and la gt
blocks of Iow-priced issues wer,
taken al rising prices. The mar.
ket was running into the kind oi
volume which some observers con.
slider the signal for a change oi
direction
The rise in Louisville and Nash.
| vile Railroad stock was one of those
unexpected developments which, al.
though unrelated to the motives for
The Washington herald., 1921-07-07
FOREIGN TRADE FINANCING
INVOLVES LARGE SUMS
Further Government Aid Questioned in View
of Growing Private Operations.
;conomist.D

means of maintaining the volume
of exports at something near war
levels.
The corporation was revived by
Congressional resolution by Con-
Gress on January and its activi-
ties since have been largely con-
fined to aiding in the export of
farm products. While all the de-
tails of its operations are not made
public due to the policy of preserv-
ing the confidential nature of in
dividual trade information. the an
nouncements thus far made give
some idea as to how the corpora
tion is functioning.
The Washington herald., 1921-07-07

: Other advances have been ap-
proved or are in process of con-
sideration to assist in the exprrta-
tion of milk. canned foods, coal.
packing products and hides.
To estimate the Importance of
this amount of aid for export move
ments it may he compared with the
MAN ry~rr yaAnc nE UAp
The Washington herald., 1921-07-07

operations of the corporation DUR
ing the first period OF its activity
under its wartime powers. The
totals of the advances made and
balances outstanding at the time OF
the last annual report were as fol-
lows:
The Washington herald., 1921-07-07

The loans on warehouse receipts
were mainly to the United States
Grain Corporation, which received
SIS, 100000. the rest going to the
New York Gamers Warehouse
Company. which received s21L500.
The corporanon rendered other
services in inspiring confidence. by
the purchase of government securi-
ties to provide support during pc
riod of liquidation and by acting
as a clearing house for the con-
sideration OF many problems OF
commerce that did not find express
sion in financial dealings.
The corporation had a paid In
capital of $500, 100000 subscribed
by the government and was au-
The Washington herald., 1921-07-07
The Difference of $50 Years

YOU'VE heard the story of Paul Revere-how he clat-
tered out of Boston and spread the alarm to every
Middlesex village, That in April Iz75. 1t was
a-nght job. Today the Boston papers would slap
their presses and in the shake of little lambs
tail the whole thrilling would be in each home
of the we'll known county.
This represents the adva of 80 years in the i'm
portant business of spreading news.
The cry of Extra - Extra the midnight
air brings startled folk their doors did the
pound horses hoofs and the breahless shout of the
rider Papers have supplanted the multiplied
his effectiveness mes-increased his speed hum
dredfold
How far back would go without newspapers We
would remain ignorance only of events at home and
abroad-bu also of much that just vitality
of the things that have to do with the
sonal, everyday life of each one of us.
Somebody hight be selling better and more
economical food; utensi that would add immeasura-
bly to comfort and l-beng better
rial making shoes clothing would
know it.
- Modern advertising is boon. Hkeeps informa-
up-to-date the things need in order
live profitable, happy and useful life in this age of
progress. '..
= 81. Do you take full advantage of the advertising?
i: ..- Read it!---H pays!
The Washington herald., 1921-07-07

furnished BY W. B. Hibbs Co.. members
New York Cotton Exchange.)
The Washington herald., 1921-07-07

The rise in Louisville and Nash
willie Railroad stock was one of those
unexpected developments which, al
though unrelated to the motives for
The McCarthy weekly news., 1921-09-10

N. P, Nelson, a prominent min ling operator from Chisana, al ri- ved in town this week with Mrs Nelson, having cleared up his interests there he will leave for the 1dlta1Cd. VI ere le will still follow the mining game, having found some ground in that sec. ton some years ago. which he feels sure will justify installing a hydraulic plant Mrs. Nelson will remain in Cordova till trav- cling is easier, Their many friends regret their departure and wish them big success in their new venture,
The McCarthy weekly news., 1921-09-10
A BARGAIN

Furnished house for sale con- sisting of three rooms. Living room II by 23, bedroom 12 by 14 and kitchen z by F. This house is warm andwell papered. Furn- lture consists of stoves, beds, tables chairs etc. Full title to the lot, For terms apply the News office.
The McCarthy weekly news., 1921-09-10
|TELEGRAPHIC
BIG LIQUOR SEIZURE

New York, Sept 10th. Sever members of the crew of the EGreek steamship King Alexand Ter We're wounded by pistol snot yesterday, when they resisted the search of the vessel by fed leral prohibition officers. These officers later confiscated lone hundred thousand dollars worth of liquor and narcotics found on the vessel.
 TIME for ASSESSMENT WORK EXTENDED Washing ,on, DO. Special to the News, from Delegate Sutherland A Bill has just been signed by the President which provides that the time for doing assess Iment work on mining claims has been changed from the cal. |enGar to the fiscal year. Work for nineteen twenty one must be |completed before twelve noon on July1st 1922. Thereafter on July 1st. each year.
The McCarthy weekly news., 1921-09-10

Philadelphia Sept 9th. Babe Ruth slammed home his fifty fourth home run today, tying his last years record.
The McCarthy weekly news., 1921-09-10

J. P. Hubrick has developed some fine pictures which he took from the rear of the train returning here last Tuesday.
 Considering the time the train was making the pictures are ex- ceptiOnally good, especially one of Spirit Mountain.
The McCarthy weekly news., 1921-09-10
OF LOCAL INTEREST

OF LOCAL INTEREST
 In the Commissioners Court this week, Jack Johnson was fined fifty dollars costs, and thirty days in the Bastile for violation of the Bone Dry Law.
 Mrs. Jean Tjosevig was ap- pointed Administratrix for the estate of Joln Underwood, de- ceased, by the Probate Judge, Chas. Spongberg.