davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1921-11-08
Causes and Cure.

The same may be said of the Ma
poleonic wars, the war of 1872 and
the financial reverses that overlook
as to a large extent. The same may
be said of the grinding hardships of
the seventies and the civil war that
caused them.
The causes in all cases were poll
cies and passions and conflicts ut
terly beyond the control of business
reason, absolutely outside of the
business field, and usually thousands
of miles away from the territory OF
the United States.
The blow that came could not be
prevented any more than stroke
OF lightning may be forseen and
averted. Engineering formulas, sta
t,stical surveys, are as useless in such
cases as jazz concerts or Voodoo in
carnations.
Is there, then, no cure, no help?
No sure cure, but always help, If we
only look for II sensibly and are not
diverted by such vague and foggy
schemes as those Of Mr.. Hoover.
The stronger we make this country
and its industry in good times the
more we diversity its manufactures
spread abroad its trade, ramify its
markets, vary the sources of its in
come, the more backbolds and sup
ports we shall possess in times OF
turmoil and difficulty like the pres
ent.
That sounds too general. What
does IL mean now. In the conditions
around us?
The Washington times., 1921-11-08
Live and Win Plan"

The "live and win" plan Of saving
which IS now being pushed by the
Commercial National Bank, is the
object of much interest in the ranks
of small investors of the city.
The plan which Is called the Com
mercial National Insured Savings
Plan" is a combination of per
cent savings account in the bank and
a life insurance policy iE the Cont
mental Assurance Company.
Under this plan one can start to
save $1,000 or a larger sum II one
elects. A small monthly deposit Is
made for 12 months and at the end
of that time, the $1,000 or other
agreed sum is received in cash.
Should one die after having been
accepted under this plan, even though
lhey had made only one monthly
payment, their heirs would receive
the full $1,000 or other agreed upon
sum.
Another step Is also taken in the
agreement, the insurance company
agreesing to pay in the event of the
total and permanent disability of the
investor to pay him 800 yearly on
the $1,000 unit, which payment will
complete the contract.
The Washington times., 1921-11-08
Range of Steel.
NEW YORK. Nov. s.

Those who look for a desultory
trading period point out that options
are beng offered on Steel common for
thirty days only h away from the
market.
Calls are offered at Il up and puts
at IA down. This does not necessarily
mean, however. that the dealers in op-
tions feel that Steel Is not going TO
have a wider range during the com
ing month.
When they sell a call or put they
will simply trade against it, and an
II of a point leeway on Steel gives
them as much leeway as would 3
points on a stock on Mexican Pc
troleum. The American Iron and
Steel Institute meets on November Is.
Judge Gary and other magnates will
undoubtedly give their views on the
outlook. AS the armament confer
ence will be in full swing at that
time, it will be interesting to hear
how the leading steel men will view
events at Washington.
The steel industry doubtless will be
one of the first affected by whatever
decision is arrived at.
The Washington times., 1921-11-08

Metropolitan Bank Building. is now
IN the hands OF a special committee
consisting of John Poole, president Of
the Federal National Bank; George l..
Starkey, vice president Of the Ma
tional Bank of Washington; Harry V.
Haynes, president OF the Farmers and
Mechanics National Bank; Clarence
Carson, cashier of the Columbia Ma
tional Bank. and II. II. Mckee. presi'
dent of the National Capital Bank.
The committee will meet on Thurs
day afternoon to consider the matter
and will then make it's recommends
ton to the association.
The Washington times., 1921-11-08
EDITED BY
WILLIAM M. CONRAD
Brokers Will Offer Big
Goodyear 8's Issue

vision OF a cumulative sinking fund
90 retire the bonds annually up 70
llO.
All bonds not retired by the sink,
ing fund before maturity will be sold
at 1l0. The trust agreement also
provides that the company will create
no other security issues ranking
ahead OF or equally with these de-
bentures Except purchase money
mortgages or issues TO refund the
first mortgage bonds) unless Its net
quick assets total $50 per cent OF all
It's liability. including the debentures.
Although the public offering OF the
bonds was subject OF gossip in
banking circles yesterday. the price
of Goodyear SIS, held by the public.
was unaffected, the SIS closing at
1I0% in contrast TO a final OF Ill
on Saturday. The SIS were brought
out at par.
The Washington times., 1921-11-08
Local Stocks.
WASHINGTON STOCK EXCHANGE.
SALES.

BALES.
Washington Gas SIS, sl.ooogs2
s5Q0QS2.
fotomac Electric GIN and refund
ing rs w. l., S1.O00Q102h. $1,000
gl02h. s1.0O0q102h. l,oooqlo2h
81, ,000Ql02h.
Capital Traction. 5qS8h.
Washington Railway and Electric
preferred. 1OQ61h, 10Q6lh, 1096lh
lOg62, 10Q62. 10962h.
Washington Gas Light. 6949H. 6q
49H. 5Q49H.
After call - Washington Railway
and Electric As, $1.000Q6l, $4,000
81, Sl,000Q61. 3l.000Q6lh. 100000
6lA, sl.000q6lk. sl,00096lk
81 .OO0Q6lk. S1,000961k. 10000
61A, sl.OooQ61k. si.oooQelA
81. .000Q6lk. &l.000QS1k. $1,000 q
61k, 35.o0og6lk, s5.o0oQ61k
IS. .OO09sh.
Washington Gas 5's. s1.0004s2
81, ,OO0Q82, S500QS2.
Washington Railway and Electric
pfd., 10Q62h.
Capital Traction. 10Qss%. 6qss. .
Potomac Electric gen. mort and ref
rs, w. l., 81 l,000@102h.
Washington Gas rs, ~ .0009 1881
Capital Traction SIS, S500@90h.
MONEY-Call loans. 6Q6 per cent.
The Washington times., 1921-11-08
Foredoomed to Failure.

They are foredoomed to failure be-
cause most causes of hard times
come upon us from places and
sources over which we have no con-
troll
II we never had gone into the
great war the wreck and ruin in
Europe would be just as bad today.
Our foreign customers would be just
as Impoverished: their credit just as
bad; their currencies just as depre-
ciated; their exchanges just as
chaotic.
All the enineering formulas and
surveys and college mathematics and
sociological stuff could not prevent
the strain of events that started
the war or even forecast the conse-
Quences. The fact is so plain that
it seems foolish to state 1t. And
with the war came the boom, the
collapse, the hard times as inevita-
bly, as every basement step leads
down stairs.
The Washington times., 1921-11-08

A banking syndicate headed by
Dillon Read a Co. OF New York. will
offer tomorrow s27.60O. 900 OF the
Goodyear Tire and Rubber Company's
ten year 8 per cent debenture sink.
Ing fund bonds at price around
par.
They do not represent new financ-
Ing by the company because they
were issued I'm May under the plan
OF reorganization and have been out.
standing ever since. although not be.
fore offered to the public tor sub,
scription.
The banking syndicate includes the
following: The National City Com.
pany, Lee. Higginson q Co.. Blair q
Co. Inc. White. Weld 4 Co.. Kissel
Kinnicutt Co, Cleveland. and Red
mond & Co.
A feature of the bond is the pro,
The Washington times., 1921-11-08
War Finance Advances.

The War Finance Corporation has
approved advances, aggregating $685.
$50, for agricultural and livestock pur-
poses through the financial institu-
tions as follows: Eighty-five thousand
dollars in Nevada, $50,000 in Iowa,
s25, 900 in Nebraska, S35, 900 in Wyom-
ing, s12S,500 in South Dakota, $105,G00
in North Dakota, sS5.250 in Texas
and $40,0 900 in Georgia.
The corporation has also approved
advances OF $500, 900 to finance the ex-
portation to Great Britain Of tobacco
from North Carolina.
The Washington times., 1921-11-08
Richmond Bank Sights
Big Business Ahead
ADVANCING
WASHINGTON'S INTERESTS

Signs which to point to healthy business revival are
slowly but steadily becoming more apparent in the Fifth
Reserve District according bulletin received today by
local bankers from the Federal Reserve Bank of Richmond
to which the Washington banks report.
This development it pointed out has its origin with the
improved demand for cotton cotton goods and profitable
prices for tobacco The effects of the present prices for cot
ton tobacco been every line OF business in the
district and the reports received from leading firms in numer
GUS lines full of optimistic predictions
Condition reports received weekly from eghythree MEM
Der banks in leading es show increased and low
cred borrowings from the bank Other reports nd-
that selling cotton and tobacco has enabled many
banks strengthen their position by reducing loans due to
other than Federal Reserve Banks.
The Washington times., 1921-11-08

very substantially in cost and In
creased enormously in supply. The
largest Federal reserve bank had TINS
year lowered it's discount rate from Z
to Az per cent. -
InsteaI OF bond issues carrying 8
per cent coupons, the latest railway
offering gives yield of less than .
per cent. The Treasury Department,
although paying as low as Az per cent
on its new obligations, was rendered
$500, ,000, 900 when 1t asked for only
5000, 900. 900.
The country's reserve ratio last week
climbed to new maximum since
1871, at II per cent. The conse-
quence is that competition for trust
worthy bonds at advancing quotations
is now keen, and it Is a moral certainty
that the availability of an abundance
of borrowable capital will stimulate
the spread and the speeding up OF en-
terprise all round. Capital, like labor,
must needs find employment in order
to earn.
The Washington times., 1921-11-08
Wooden Mills Booked Up.

In virtually every other industry
conditions today are notably better
than they We're a year ago, although
the change has come about so gradu-
ally in most instances that the extent
of the recovery is not fully recognized.
Leading woolen mills are booked up
for months ahead.
Both raw cotton and cotton goods
interests are decidedly better off.
The oil industry recently has en-
loved something Of a boom, as re-
Elected by rather sharp advances in
crude oil products.
The leather and shoe industry, at
one time PROSTATE, is in reasonably
healthy condition.
Surplus copper is gradually moving
into consumption at prices which at
least tend upward rather than down.
ward, and before long mining opera
tions should increase materially.
The latest weekly figures show
more freight cars loaded than in any
previous week since October Of last
year.
At last weeks auction Of Govern
ment wool. prices advanced IN to 10
per cent.
The worlds largest railroad took on
7,4OO additional employees between
September 16 and October 16, bring
ing it's total above 100000.
Both sugar and coffee have been
much more active at Strengthening
prices.
F'urs, totally neglected not so long
ago, are now all the rage.
1t is significant, too, that paper
consumption is expanding, and that
advertising is beginning to pick up.
a.. a
the winter bring increased idleness in
some directions, apparently effective
plans have been formulated to cope
with it.
The Washington times., 1921-11-08
PoSToFFIcES TO REMAIN
OPEN ON ARMISTICE DAY

The national holiday on November
IL will not interfere with the dispatch
OF mail, the Postoffice Department an.
nounced today.
Postoffices will be kept open on
November IL such length of time as
may be necessary to meet all reason
able requirements of the public, and
mail shall be made up and dispatched
as on other week days"
The Washington times., 1921-11-08
Orders Doubling.

Marshall Field & Co. report that it's
road statesmen are sending in more
than double" the orders received at
this time last year.
The monthly reviews OF the Federal
Reserve Board and OF various Federal
Reserve banks are quite encouraging
in tone. The Philadelphia Reserve
Bank, for example, records that of
thirty separate lines OF business de-
mand ls good" in nine, fair" in six.
teen, and poor" In only three.
Furthermore, merchants consider
prospects for holiday trade are very
much brighter than they were last
year. The buyers strike" has sub.
sided. There is. too, this important
fact to be taken into calculation: The
majority of those who work for a
weekly salary are In a position to pur.
chase a larger volume of merchandise
now than last year, prices having
como down more than salaries.
II is proverbial that all major
upward movements In securities start
al the top, with governmental and
similar gilt-cdged investments. Hence
The Washington times., 1921-11-08
PPmryv BUSINESS AND Fl N N c E
Holiday Notice.

Today being election day and
a legal holiday La New York. the
New York stock exchange ans
yther markets Of the metropolis
.re closed The Washington
Stock Exchange. which generally
loses whenever those Of New
York do, however. remained open
today.
The Washington times., 1921-11-08
N. Y. c. to Issue 9onds.

The Interstate Commerce Commits
sion today authorized the New York
Central Railroad Company to issue
19,500.000 Of per cent refunding
and Improvement mortgage bonds, Sc
ries Il, and to pledge them with the
director general of railroads as Sc
curity for a demand note for a like
amount.
The Washington times., 1921-11-08
Exchange Seat
Subject to Tax

NEW YORK. Nov. s.-A seat
upon the New York stock ex-
change is sub Ject to a State tax
the United States Supreme Court
held yesterday In deciding an ap-
peal brought by John M. Ander-
son from a decision OF the Ohio
supreme court. which held a seat
upon the exchange property
within the tax laws of that State.
The Washington times., 1921-11-08
Many Traders Absent.

Customers rooms are indicative Of
the falling off in interest this week.
In face of the two holidays, 1t is
natural that many traders should
decide to rest for the whole week.
About the only topics of converse
ton among brokers and customers
are the armament conference and the
election. The first cxcites varying
views. Privately every man in Wall
Street expects Hylan victory.
The Washington times., 1921-11-08
Chicago Grain Opening.

CHICAGO, Nov. S.-wheat opened
Y to * higher. Corn, Y to y higher;
oats unchanged to u higher. Provis-
ions. lower. Opening:
Wheat - December, $f.osh q 1.Q3;
May, S1.0s1a a. .0Sk.
Corn-December. 46% 94sSc; May,
52% @527sc. a,.y
371h @87Ac.
Lard-January, $3.50; March. $s.77.
Ribs-,January, $40.
The Washington times., 1921-11-08
FAITHFUL DOG GUARDS
DEAD HUNTERS BODY

JoHNSToWN. Pa, Nov. S.-with
his fox terrier Queenie standing guard
at his head the dead body of Charles
Novisher, nineteen years old, was
found i'm the woods near here yester-
day. A shotgun, lying ten feet away.
indicated another fatal hunting acci-
dent
II is thought Novisher attempted to
stand on a stump, slipped and the
weapon was discharged.
The Washington times., 1921-11-08
C., b. & @. Orders
NeD Equipment

CHICAGO. Nov. s.-Beiieving
that there Is a decided improve
ment In general business cond,-
tions. the Chicago. Burlington
and Quincy Railroad and It's sub
sidiary, Colorado and Southern
lines, today authorized the lmms-
date expenditure Of sib.ooo,ooo
for new equipment.
Directors OF the two lines ms.
here today. The action was taken
following consideration OF a busi-
ness survey made by the two
roads.
The Washington times., 1921-11-08
ENGLAND URGES LEAGUE
TO SETTLE ALBANIA ROW

GENEVA, Nov. S.-Preniier Lloyd
George today telegraphed to the sec
retariat of the League of Nations
requesting an immediate meeting CT
the League of Nations council to
consider the situation in Albania.
where the Albanians and Jugo. Slavs
are at war. Britain alleges that
Serbia Uugo-Slavia) is refusing to
carry out the terms of the peace
treaty.
The Washington times., 1921-11-08
Bank Notes Outstanding.

The Treasury Department an
nounced today that at the close of
business on November 4 national bank
notes outstanding totaled $742, 1876, ,232,
and Federal Reserve notes $12,S36, 400.
For the week ended November 4 ma
tional bank notes circulation decreased
$1,25S,790, while Federal reserve notes
decreased 81, ,647 900.
The Washington times., 1921-11-08
Reaction in Bonds?

So many folks have commenced
talking reaction" that 1t has spread
to the bond market
Some brokers state that when the
reaction in bonds develops il will
mean more interest in stocks"
This would be correct in a normal
market period with bonds selling to
yield normal return.
Under existing conditions II is mis-
leading. The general public is inter.
ested in bonds because they now con-
slider safety the first essential.
With bonds yielding from to 8
per cent they hold as much specula-
tive attraction as stocks. Some
profit-taking in the investment issues
may halt the advance a little.
1t is unlikely to interfere with the
main upward trend. When good
bonds sell at a normal level and yield
less than 6 per cent then a big pub
lie following veer to stocks.
By that time business should have
improved and the good stocks be
yielding a normal return. Only the
wealthy can hold stocks for many
months without return. The
average participant in the market
does not want to wait very long.
The Washington times., 1921-11-08

proyement, may
be xperi en- ced
temporarily.
In this event, a
relapse into pes
simlsm must be
guarded against.
The progress al
ready made Is
more comprehen-
sive ths popu'
larly recognized.
Stop for a mo-
ment and reflect
.pon such develop
|.nents as these:
The wherewithal
TO conduct busi-
ness and enter
prise has declined
The Washington times., 1921-11-08
The Meaning.

It means. for example, a recogni-
| ton Of the fact that our business
should be extricated from the con-
troll of England and japan in China
In order that the next time we have
slack market at home we may find
employment for our people by making
The Washington times., 1921-11-08
Rapid Transit Earnings.

The October report of the Washing
ton Rapid Transit Company just re-
ceived by the Public Utilities Com
mission shows a deficit of $64.3s. The
total operating revenue for the month
amounted to $12,211.1l.
The Washington times., 1921-11-08
Mr.. Addison,s Address.

"The Endorsement Of Negotiable
Instruments" will be the topic Of an
address which Vice President Francis
G. Addison Of the Security Savings
and Commerce Bank will deliver before
the class of Washington Chapter.
American Institute of Banking, this
evening.
The Washington times., 1921-11-08
Wall Street GOSSIP

there has been little. II any, real pub
lie following attracted by the ad
vance. Professionals are simpi,
trading against one another wher
they try to conduct a shake out
under existing conditions.
The Washington times., 1921-11-08
Beats 1915 Pork Price.

CLEVELAND, Ohio, Nov. s.-Fo,
the first time since 1916 hogs sold be.
low IS at the Cleveland stock yards
today. sdost grades were offered at
S7.7S.
The Washington times., 1921-11-08
FIN ANCE|
- AND
Business IN
By d. C. FORBES

The inclination In high places now
10 TO await international develop
ments. particularly at Washington.
Fpr this and other reasons hesi'
fancy, rather than quIckened i'm
The Washington times., 1921-11-08
Washington Loan Application.

The application of the Washington
Clearing House Association, whi-~
came up at a meeting of the associa-
ton held yesterday afternoon at the
The Washington times., 1921-11-08
American Brake Shoe Preferred.

Replying to a reader, American
Brake Shoe preferred is a per cent
cumulative issue.
The Washington times., 1921-11-08
A Repetition.

Reactions seldom come when every
one is prepared for them.
The Washington times., 1921-11-08
"Shake-Out" Due.

The number of those expecting a
healthy reaction" is increasing. One
of the first to forecast the recent
advance now states: Reactions in
a bull market always have for their
object the dislodging of stocks with
the idea of accumulating at as low
a level as possible preliminary to an
other forward movement. In other
words. reactions will be just as Sc
we're as necessary in order to shake
out weakly margined holdings. Each
successive reaction in a bull market
is greater in extent than the previ-
Gus one, both because 1t starts from
higher level and because the pub
lie usually provides bigger margins
each time, and the professionals are
compelled to put the market off
further to get their stocks back"
II this hypothesis is correct, 1t
would be we'll to remember that
The Washington times., 1921-11-08

the spectacular rise in Liberty bonds
now under way ought to be deeply
significant. Investment bankers are
quite confident that the demand will
broaden to corporate obligations.
In a sense. the outstanding feature
of the stock market Is the magni-
tude Of the short interest as indi-
Gated by the abnormal demand for
the loan of cert icates to make de-
liveries. In a money market like
today's, such bearish operations are
fraught with unusual danger, not
withstanding the unfavorable fea-
lures of the situation which the
bears can truthfully point to. par
ticularly in Europe as a whole and
more especially in Germany, as well
as in our own agricultural States.
Discriminating courage, not blind
optimism, Is what the present situa-
ton and the outlook warrant.
(Copyright, 1921, by II. G. Forbes)
The Washington times., 1921-11-08
The Motor FURRY.

General Motors and Chandler sud.
denly took a squirt and caught pro-
fessionals mapping.
The only happening to account for
the advance was President du Points
optimistic statement of last week.
AS the last quarter of the year is
usually the worst period for the
motor companies, these issues sci.
dom display any great strength at
this time.
However, there is talk of a strong
pool in General Motors. It is whis.
pered that the market is being made
by one of the streets most astute
operators.
So far as known. insiders are not
doing anything in Chandler at pres
ent.
They feel confident that the ~
per cent dividend will be declared
next month and that business will
pick up in the spring. Belief that
the dividend will be maintained was
largely accountable for the buying
of Chandler following the strength in
General Motors.
The Washington times., 1921-11-08
Dividends.

WE BUY, SELL AND QUOTE
Ii.,ed ana Unlisted Stocks, Bonds
ara Securities OF every description
that are Marketable II you went 70
RiEMER & COMss..ssh M.shsnatcrSt = -; :; "
Rockingham post-dispatch. [volume] (Rockingham, N.C.) 1917-1965, 1921-05-12
NORTH CAROLINA,
Richmond County.
NOTICE OF MORTGAGEE'S SALE
OF PERSONAL. PROPERTY.

Under and by virtue of the power
contained in Chattel Mortgages
now owned by the Nance Presnell
Hardware Company and executed
by A. T. Frye as follows:
One. to w. C. Nance dated Feb.
26th, 1920; one to P. c. Coley dated
December 31st, 1919; one to Nance
Presnell Hardware Conn any dated
June 18th, 1920 and an Their to
Nance-Presnell Hardware ompany
dated March LIST, 1920, drfl alt hav-
ing been made in the pa nent of
the Indebtedness secure, Dy each
OF the aforesaid mortgages, and in
order to satisfy the indebtedness Sc
sured thereby, we will offer for sale
to the highest bidder for cash ON
SATURDAY, MAY 28th, 1921, ON
MAIN STREET IN THE TOWN OF
ELLERBEE, IN FRONT OF THE
BANK OF ELLERBEE, the follow
ing described personal property:
One Bay Mule years old.
One Roam Horse years old.
One Black Side Spring Buggy.
One Red Milk Cow about 6 years
old.
One Walter A. Wood Moving Ma,
chine, - =
One Walter A. Wood ~
This May End, 1921;
| NANCE I|||II IA 70