davidaulloa/AmericanStories huggingface dataset:
The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1921-09-23
FREDERICK METCALF
is CALLED BY DEATH

Frederick Lloyd Metcali 1i.year-old
s..n of Mr.. anu Mrs William Me. 'alf
died at his home on East Ohio ave.
Tue Monday afternoon at ~ o'clock
following six weeks illness of a
complication of diseases
The parents, a sister, Mrs. Lyman
Robinson, and brother. Earl. sur
vive.
Funeral services will be held We'd
nesday at 1880 at the home, Rev. A.
e, Black officiating Burial in the
Workman cemetery at Danvillc.
The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1921-09-23

Utica, and Lucy J. Hanger. Morgan
township. Rev. J. M. Miller
%
Hearing Continued
In the earl estate proceedings Of
Charles Knox Jr. vs.. Charles Knox Sr.
the hearing has been continued bv
Jduge Duke In probate court.
The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1921-09-23

Not inslnuat,ons. but news. In THE
BANNER
The Washington herald., 1921-07-31
TIMELYWALL STREETTOPICS

1t took some time for the reduc-
tion in the Federal Reserve dis
count rate to exert its full infu-
ence on the money market but a
pronounced change in money condi-
tions was recorded on Thursday
when. time money was offered in
substantial amounts at per cent
and some special loans were made
below that rate. This was the first
open and maintained offering of
time money in a period dating back
to prior to November, 1919, when
the Federal Reserve managers
issued the mandate that securities
must be liquidated. Since then
money has at times been in urgent
demand at 10 per cent and the
statement was repeatedly made by
those making a speciality of time
loans that the market was one of
bids without offers. There have
been instances when transactions
were made in time money in the in
terVal but these periods were
quickly ended and followed by re-
newed tension.
Early in the week reports were
made of loans OF call money out
side of the stock exchange at rates
below those ruling on the board.
Apparently these loans at conces-
The Washington herald., 1921-07-31
RECORD PEACH AND
WATERMELON CROP
Heavy Shipments from State
Of Georgia, Figures
Show. ..

ATLANTA, Ca, July 30.-Ship-
ments of peaches and watermelons
from Georgia for the 1921 season
have surpassed all previous rec
ords. According to figures COM
piled by the Southern Railway Sys-
tenn from official sources, 10.264
cars of peaches had been shipped
from Georgia up to July %. and the
crop is expected to run above TO-
500 cars. In 1920 Georgia shipped
1868 cars of peaches. With a great
part of the watermelons still to be
shipped, Georgia had shipped 1o,-
110 cars of watermelons, and ship
ments since then have run above
$50 cars per day.
The results show that there was
no ground for apprehensions ex-
pressed early in the season that the
Georgia peaches and melons would
not move this year. Prices re-
ceived by growers have been quite
satisfactory. Estimates for the re-
turn received by Georgia growers
from the two crops so far are placed
at s10,000.000. Favorable weather
continues. Improved transporta-
tion facilities and better methods of
marketing are among the factors
which have contributed to the sue
cess of the Georgia producers.
The Washington herald., 1921-07-31
WORLD BUILDING
1873 MOTOR SHIPS

There are 1873 motorships of
Ee2,s44i gross tons under construc-
tion IN shipyards OF fourteen ma
tions. The plants in the United
Kingdom are working on nifty
seven Of these motor driven ves-
sells. while seven of 2s,s1s gross
tons are being added to the Ameri-
can merchant marine. There has
been a steady growth in the volume
of motorships, and 1t Is reported
that Germany, whose totals are not
iaciuded in these figures, will pro-
duce a large number of ocean
going motorships for her new fleet
On July 1. according to 'Lloyd's
Register of Shipping" there was a
total of 1,s4o ships of s.1ss.5ss tons
steam, sail and motor-building
throughout the world.
The Scandinavian countries. which
were the first to perfect the Diesels,
are engaged upon the reduction of
a good proportion Of the large
ocean-going motorships. Sixteen of
the $3.50 gross tons are under way
IN Denmark. while Sweden Is con-
structiltg sixteen of 61.0e5 tons and
Norway i've Of 1s.400 tons.
The Washington herald., 1921-07-31
WESTERN GRAINSMARKETED
FREELY; SHIPMENTS HEAVY
Large Export Buying and Selling by Farmers
Start Wheat Moving.

CHICAGO. July 30.-A feature in
the wheat market which a large
part of the trade lost sight of Is
the way prices have held up in
the face of an unusual movement,
Chicago received 1.225 cars on Mon
day and TO cars on Tuesday, while
the primary movement for the two
days was nearly 100000 bushels.
The speculative trade expected that
the heavy receipts would depress
prices, but the breaks of to
cents were followed by reactions of
the same size to a little more, and
those who sold on the break became
the best buyers later.
Seaboard exporters were large
buyers of July and September. and
absorbed the hedging sales which
were unusually heavy, giving the
market good support The pressure
from cash wheat was light because
practically all the receipts had been
sold to arrive and were applied on
old sales, so that only a small per-
centage of them came on the mar
ket- The trade did not realize this
until late Tuesday, when July
wheat. which has been at a discount
The Washington herald., 1921-07-31

sions made banks and other insti-
tutions decide on meeting the out
side competition and on Thursday
heavy offerings of call money were
made on the exchange by leading
banks forcing the rate for call
money down to az per cent, the
lowest touched since August 1s,
1919, with the exception of a freak
loan made at 2 per cent November
last: 1t was remarked as a curious
coincident that this break in the
call money rate came at the same
time that the sale of 100000, 900
United States Treasury certificates
was SO quickly affected. 1t was
suggested that the sharp reduction
in the call money rate might have
the usual effect OF driving the out
of-town money away from the city
again and some of the leading lend
ers believed this result to be ex-
tremely probable. 1t was insisted
by banking agents that the chief
reason for the heavy offerings on
Thursday was to obtain employ
ment for a. excessive supply of
funds that otherwise would be Idle.
Railway Steel Spring. which fell
during the week to the lowest price,
touched since 1918 when il sold
down to ASH. is an exception in it's
financial condition, to the general
position Of Industrial corporations
in that it has no bonded debt and
the only substantial item of obli-
cations in its balance sheet Of De-
cember 81, 1920, is the item of "ac-
counts payable of s7s5.sS4. Against
this II held securities chiefly United
70
S4,1s9.s27: accounts receivable
amounting to si,061.1s6. and cash
H.9S1.7a5. The common stock
has been on an 8 per cent dividend
basis for the past two years. Ths
next dividend meeting should be
held In the last week OF August
In spite of assertions of distri-
button of long holdings many stocks
are in such scant supply in the
stock loan market that they are
hard to borrow except at a pre-
MUM. International Harvester is
an instance Of that condition, the
borrowing demand being so large
as to be the subject of comment
in the loan crowd. where il COM
mands premium of around one
eighth per cent for use each day.
American Sugar loans from fiat to
1-32 and Pressed steel Car and Rail
way Steel Spring both loan fiat, that
is the borrower advances the market
valve In cash as security without
receiving any interest allowance.
Attention has been called to the
heavy borrowings demand for
United States Steel common in the
stock loan market after the close
each day. This demand has been
intensified by the fact that only
few honses offer TO loan the stock
On Wednesday only. one house ap-
peared wiling to lend the stock and
on Thursday a supply came in sub
stantial amounts from only three
houses. This contrasts sharply with
the situation year or more ago
when the firms Offering to lend
United States Steel common coul6
be numbered by the hundred.
The Washington herald., 1921-07-31
WHEAT IRREGULAR
in NARROW MARKET
Weeks Receipts Have Been
Largest in Many
Years.

CHICAGO, July 3O.-Wheat prices
moved irregular within good
range. There was pressure early
from liquidators. and the cleaning
up of large line of wheat bought
against sales of rye. This weak
ened July for a time, but 1t was
absorbed later and prices advanced
ga cents. Trading was largely
local. Cash prices were easy with
fair export inquiry. 1t is said that
wheat is moving to the Gulf faster
than it can be moved out, and that
more has been sent there titan has
been sold.
Primary receipts this week are
the largest in years, IL not on record,
22,197,oe0 bushels. or 4,30S.O0O BUSH
els more than last year. Deliveries
for the morning were 229, 900 bushels.
making 1,51S.000 bushels for the
month. Six cargoes of hard wheat
have been sold to Brazil and one to
Uruguay within the past two weeks
as our wheat is cheaper than Argen-
tine. Wichita reports lighter ar
rivals and country offerings. Russia
has bought 5000 tons of flour in
this country.
There was little in the corn mar
ket. July being offered fairly on the
strong spots. Prices had a narrow
range. with the undertone rather
steady. Sales for exports late yes
terday were 100000 bushels, receipts
for the week show a good Increase.
Weather remains warm, and while
there have been good rains in some
sections the past two days, most of
the moisture has been in the way
of showers.
Northwestern hedgers were active
in selling September and buying De-
cember oats at cents difference.
Local elevator interests are trying
large enough to admit of extensive
trading. Arrivals are increasing.
and primaries of 1851. 900 bushels
for the week are the largest in
years. July rye was on tap from
Eastern interests at II cents over,
and No. grades were taken by
them at Z cents under July. De-
liveries were $4,000 bushels this
morning. and 1000 bushels for the
month. q.
Armour interests bought lard, and
report export business the largest
of the season. Other houses are
doing little. The weeks shipments
of lard and meats were over 10000
900 pounds, or 100000 pounds
over last year. Estimated hogs for
Monday $4,000, against $4,000 last
year. Western run for the week.
$4,000, last year, $4,000 hogs.
Money 61l to ca
The Washington herald., 1921-07-31
YEAR OF BUILDING
LOST in GERMANY
Lack of Responsibility and
Confidence Delays
Work.
(foreisn Correspondence Of The Washington
Herald and New York Evening Post.)

(Foreisn Correspondence Of The Washington
Herald and New York Evening Post.)
FRANKFORT-ON July Is.
The entire German nation looked
with great expectations toward the
year 1891, and was convinced that
with the revival of building a gem
eral recovery in industry and COM
merce would occur. These hopes, it
is needless to say, were not realized,
and apparently will not be for some
months to ccme. We may therefore
call 1921 a lost year in building.
Housing commissions are over
burdened with red tape, financial
provisions for building were duly
made. and there are still available
funds carried over from last year.
The delay is due to lack of con-
hdence and of responsibility. The
commissions have not yet learned
that their task Is to build houses
and not to promote the interests
of certain political parties. The
state Of the building trade has
caused number of construction
companies. to discharge their work
men, with a consequent increase in
the army of the unemployed. In
the meantime hundreds of thousands
who at present are living in tenn
porary wooden huts look with dread
upon the possibility of having to
spend another winter in them.
The Washington herald., 1921-07-31
LOWER PRICES
RULE CURB TRADE
Motor Stocks Make Further
Declines Under Sell
ing.

NEW YORK, July 3o.-There was
heavy trading in many of the low
priced issues on the New York curb
market during the past week, but
the medium priced issues were
dealt in to ony a small extent and
the important movements were to
materially lower prices. Gillette
Safety Razor was one of the weak
features. ranging from 143s to 1913.
Goodyear Tire advanced to Is but
quickly reacted to 12S, and New
Jersey Zinc, after moving up from
ia to 1l9, reached to 116. Glen
Alden was fairly active and strong.
advancing from 33T to 34%. Acme
Packing dropped from 1S to the
new low record of IL. Low
priced motor stocks made further
declines, Bethlehem Motors selling
at Csc a share. Locomobile at 20 to
75c a share and Willys Corporation
SO to 4Sc a share. Durant Motors
was fairly we'll held with trading
at % to 2S. Chicago and East Illi-
nois was steady, selling at 13% to
13A, United Retail Candy ranged
from 6h to 6N, and Sweets Com
pany was traded in at 2% to 2lz.
feature of the petroleum mar
ket was the decline in Gilliland Oil
from 2%I to the new low OF IS. In
ternational Petroleum developed
weakness, yielding from 11k to
10%. Maracaibo, after advancing
from Fl to 22&s reacted to 21S
Cities Service issues developed
strength. bankers shares advancing
to IA and the preferred to 1904.
There was heavy trading in the
mining stocks. Boston and Mon
tana moving up from ST to IT on
heavy transactions and Florence
Goldheld ranged as to 40. Magma
declined from 1SA to 17k.
The Washington herald., 1921-07-31
EXPECT new CORN
CROP TO Be LARGE
Crop Well Advanced and Fine
Prospect Is As
sured.
Especial Correspondence Of The Washington
Herald and New York Evening Post-)


Herald and New York Evening Post)
CHICAGO. July .3o.-Unless there
is very cool weather the next thirty
days the greater part. II not all,
of the corn crop will be made by
September I. The crop is further
advanced than usual, and while a
good part of the corn section needs
rain, the crop is doing wonderfully
well. It is silking and caring
earlier than usual and the crop in
Texas. Oklahoma and the South is
made, while in Kansas, Nebraska.
parts of Missouri and Illinois, and
Indiana reports indicate that a
large crop is assured. Iowa has
the best prospects of all and the
crop is doing well, ears forming
and filling readily, and a gosd per-
ceEsage of the acreage is In the
roasting ear stage. according to the
Iowa State report.
Rain or no rain. there will be .
large crop. Stocks of old corn IN
the country are larger than usual.
and prospects are for heavy sup
plies for the next season. The
United States could easily spare
over los. .0eo. 900 bushels of corn
without feeling IL. 1t is seldom
that the exports have ever run
above 100. ZOO, 900 bushels in a sea-
son.. At the present rate there is
a good export business on, as prices
are low. Feeders in some sections
are doing very little because of the
scarcity of money. Those who had
fed hogs have profited. as prices OF
hogs are the highest since last
March
The Washington herald., 1921-07-31
HIGH COST OF LABOR
TURNOVER is SHOWN

NEW YORK, July So.-"You're
fred" and II quit" cost one Ameri-
can industry s1oe.ooo.ooo last year,
the American Engineering Council
declared today.
The council, making public a re-
port of its committee on the elimi-
nation Of waste in industry, de-
clared that metal trade firms lost
that sum through unnecessary labor
turnovers. With an accompanying
idfeness OF machinery the loss
reached s1,ooo.ooo,oo the report
said.
The Washington herald., 1921-07-31
CHICAGO BANK RATE
STILL SIX PER CENT

CHICAGO, July 30.-There are too
many large unliquidated loans in
the Chicago Federal Reserve dis
trict to permit of a reduction in the
rediscount rates from per cent.
The Chicago Federal Reserve Bank
has held out in defiance of the
action of other reserve districts in
reducing their rates to 5X per cent,
apparently regardless of financial
conditions. This reduction is be-
lieved by financiers here to be un-
warranted. Chicago bankers are
anxious to get the business situa-
ton on sound basis, and do not
believe that there has been a COM
pletion of defiation. Reducing dis
count rates they regard as retard-
ing readjustment-
The Washington herald., 1921-07-31

under September Of late. advanced
to half a cent premium over Sep
tember on buying led by the sea-
board. Chicago has sold over
100000 bushels of wheat to sea-
board exporters within a week. the
bulk OF IL being for shipment be-
yond August Is. Cash handlers here
do not like to take the risk of
large commitments for the near fu-
ture. owing to uncertainty as to the
steadily improving.
Farmers Selling Freely.
Farmers in the West are selling
wheat and other small grains freely.
particularly wheat. the marketing
of which is nearly at a record ieves.
A Nebraska banker says that within
the last two years farmers borrowed
money extensively from their local
banks to buy automobiles. farm
lands. oil stocks. and "blue-sky
stun" and had no trouble in getting
the money because prices Of grains
were high. when the slump in
grain came last year." he said. "the
farmers were unable to meet their
obIisdtlOnS- we tOlu tnem tnat we
did not want to press them too hard.
and it was generally agreed that IL
they were carried until the present
harvest they would sell their grains
freely and pay up.
They are now making good, and
the result is seen in the hsavy
movement of grain from the farms.
This is easing the country banker,
who secured his money from the
Federal Reserve banks. Some have
little surplus, while others have
none, but the situation Is being
clarified"
One OF the largest grain opera
tors in Nebraska says that farmers
have sold their wheat as il was
threshed> and that within a week
or two the big movement will be
over. Nebraska has good crops this
year. The corn crop is further ad-
vanced than usual. and investisa-
ton throughout the leading corn
counties finds the crop practically
made.
The Washington herald., 1921-07-31
NEW YORK PRODUCE.

NEW YORK, July 30.-Butter-
Creamery extras, 43a46c; creamery
firsts, 3Sha43hc; creamery, higher
scoring %a46c; State dairy tubs,
32a42hc: ladies, fresh flrsts, 31a
321sc.
Eggs-Market firmer. Nearby
white fancy, 53a55c; nearby brown
fancy. 44a46c; extra. 41a42c; firsts,
34a37c
The Washington herald., 1921-07-31
CoTTONSEED OIL.

EEw YORK. July so.-Cottonseed
oil was easy. Spot, S.75 bid; crude.
7.25: sales. Futures-August, S.75a
800; September, S.S2aS.S3; October.
S.S2a8.84; November, S.42aS.43; De-
cember, s.42as.45; January. s.42a
s.45; February, S.45aS.5o; March,
s.5Oas.6O
The Washington herald., 1921-07-31

OF this investment the average
farmer carries as his Individual
holding all except about 10 per cent.
which represents capital borrowed
on mortgages and current credit. As
has been shown by the census re-
Gently, the entire mortgage indebt-
edness of farms amounts to a little
more than s4.00o.0o0.o 900 and other
credits, loans and interests, other
than the owning farmer. probably
double this amount. This increase
in valuation naturally appears only
on the books in the case of a great
many farms and the increment does
not involve corresponding in
crease in overhead expense in actual
practice. But for that proportion OF
farms that have been sold. which at
present is unknown. the increased
valuation represents a real capital
increase, upon a large part of which
reasonable rate of interest must
be allowed il agriculture is to main
tain itself as business industry on
basis of profit
Here the peculiarity Of the agri-
culture industry comes in with re-
spect to the fact that interest on
Investment is not a fixed charge
that must he paid along with other
costs of production. but is really a
part of the individual owners
profit. except in the case of a farm
The Washington herald., 1921-07-31
HIGH TARIFF HURTS ARGENTINE TRADE-STEEL PRICE DECLH
Railroads Average EOS Point Cain 4 Week.

NEW YORK July OF busi-
i'm the
compared with Comparisons
The Washington herald., 1921-07-31
FARMS SNEEDMOREC CAPITAL
AS VALUES INCREASE
Average Farm Has Become Larger Business
Unit Requiring More Working Capital.
(By THE WASHINGTON HERALD EcoNoMIsT)

The great increase in farm values
Just reported by the census have ap-
proximAteiy equalled the recent es-
timates and the total Of s77,s25, ,ooo.-
900 represents practically 100 per
cent Increase in tenfyears. The in
crease In the value Of individual
personal property would undoubted-
ly bring the total far above the
$4,000, 100000 mark. The chief Sig
niicance of this growth in values is
the Increased obligation in finance
ing agriculture in view of the fact
that this dollar increase in valua-
tion is so much greater than the
increase in the volume of farm
products during the same period of
ten years.
Judged from value in dollars
alone, the farm products of the
country have made new RECORDS
during the war. but such valuations
are deceptive and cover up the rear
rate of Increase in farm production
which Is relatively little when prod
ucts are judged in terms Of guam
titles. There has actually been a
decline in some instances. notably
beef production. although the value
of livestock on farms has increased
81 per cent in the last ten years.
When the increased valuation Is
compared with the units of procuc.
ton. 1t is found that the amount OF
farm capital, both invested and
liquid. per unit of farm product, has
approximately doubled during the
past decade, and this is a fact OF
first economic Importance to the ma
tion in considering questions Of ru-
raj finance and the farmers needs
for capital in various forms.
In terms >of the average, indi-
vidual farm the following table
show the conditions in years of the
last tWn rensnses.
The Washington herald., 1921-07-31

z urnshed by W. b Hibbs e Co., membe
New York Cotton Exchange.)
The Washington herald., 1921-07-31
Breadstuf Movements

NEW YORK. July 30. = The following
shows the movement Of breadstuffs at New
York today in bushels of grain and barrels
of -four. Receipts Exnorts
The Powder River County examiner and the Broadus independent. [volume] (Broadus, Mont.) 1919-1935, 1921-09-23

lesaoon, TUsssse Z e. ~ il ~ NJ
ward Q. Hobbins property Of $40 acres
FOR the aut6Nf e7sS. Tho sale Vas to
safety : JUDGMENT secured ~ Peters
combany aSaihst Robbins, wh6se prop.
erty II on the Mixpah. near the Jchu
Irion place.
Emmett 3falloy Of Miles City, who
was the successful bidder for classt-
flying and appraising lands in this
county, was in Broadus Wednesday.
A son was born Wednesday morn-
Ing to Mr.. and Mrs. John f.. Reynolds
Of Hay creek.
H. ". Broaddus returned to e. Paso.
Texas. Wednesday after visit here
with his aged mother and brothers.
John, Oscar and Billy Broaddus and
their families.
Henry lttig OF the Olive country was
in Broadus Wednesday.
Hunting licenses were issued by
G &. Craw, justice of the peace. the
past week 10 H. II. Straiton. NJ. 7.
Wiley. II. a. I1oobey and {. :. Einsel.
Pay 81 now and get a 16-month
subscription to the Examiner.
Nearly all the primary equipment
in the Broadus school turned up miss
ing with the start of school this year.