davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1921-07-10

will bear upon questions of farm
credit, prices, marketing, foreign
trade and the interrelations of fac
tors having to do with the deter
mination of farm prices. The i'm
portance- of national farm surpluses
and the finding of markets abroad
flor these, as well as the develop
ment of ways and means of en-
couraging export trade in such agri-
cultural products has furnished
surplus which will command first
attention.
While farmers are to a certain
extent anxious to. know II they have
had fair share of credit during
the defiation period, they are per-
haps more interested to know what
the national policy is to be regard
ing future development and to what
extent the government, through
legislation or in other ways, may
assist in maintaining national
food supply that is equal to all
needs. The agricultural economists
point out that it is not yet clear
what part our export markets will
play in assuring prosperous con-
ditions to agriculture until the gov
ernment policy with respect to such
trade is clearly outlined They
point out further that the commits
sion may be able to do a great
public service in emphasizing the
close relation between agricultural
prosperity and general business conS
ditions. The outstanding fact, to
which they all refer at present, is
that the low purchasing power OF
the farmers dollar has acted as a
check upon all forms of business
activity and brought about to a large
extent the present depression in
trade.
The extent to which local trade
is reviving in sections in which the
new crops are being marketed fur
nishes some proof that the econ
omists are right, since merchants,
manufacturers and bankers report
Improvement in conditions
idly as new crops become available
Tor market Ii is believed t.....
stock phrase. Good crops mean good
business" may be demonstrated to
be a fundamental principle by tn.
Investigations of the Agricultural
commission and that the publicity
Following this investigation may
serve to impress industries other
than agriculture with the fact that
they have a vital concern in a ma
tional agricultural policy that will
promote profitable farming. II is
the determination of the commits
sion to direct its efforts toward dem
onstrating that agriculture is the
basic industry.
The Washington herald., 1921-07-10
RAIL SITUATION
TOCLEAR SHORTLY
Government to Take Step, Ac-
cording to Reliable In
formation.

A real forward step toward clear
ing up the railroad situation will
be taken by the government short
ly, IL was stated in authoritative
quarters last night following a con-
ference between President Harding
and members of his official family.
The government shortly will begin
paying over to the railroads sew
eral hundred million dollars, which
will be used in getting the lines
back to prewar efficiency.
The meeting was called primarily
to consider answering urgent de-
mands of the railroad executives for
at least part of the money due the
railroads from the government.
The executives stated the money
was necessary to expand the traffic
facilities, which in turn would pro-
vide employment for many thou
sands of idle men and in general
lend stimulus to lethargic business
While no statement was issued by
any of the conferees, it was under
stood the government will soon be-
gin making payments to the roads
The Government owes the railroads
approximately $500. 900. 900, the debt
having developed during the period
of Federal operation.
The Washington herald., 1921-07-10
DROUGHT HASTENS
WHEAT RIPENING
Threshing Returns Disclose
Disappointing Yield and
Quality.

CHICAGO. July 9.-Abnormally
high temperatures and drought over
the spring wheat belt have hastened
ripening and prevented proper fll-
ing of the new crop. according to
Thomson & McKinnin. In addition
to this. threshing returns of winter
wheat are disclosing disappointing
yields and quality. Despite this
condition, there has been no breadth
of interest in the market. World
financial conditions continue to be
paramount. Export business is be-
ing done on 80 days credit, flour
iobbers and millers seem unwilling
to anticipate their future needs.
The Government estimate Of yields
as of July 1. reduces the total crop
22O .O00,0O0 bushels from June esti-
mate, making the total crop yield,
both winter and spring 100000, 600
in excess of last years crop.
Reserves on farms are given at
100000 bushels larger than a year
ago, but the visible supply and
probably the stocks of flour
throughout the United States are
considerably smaller than last year,
the net result being around 30.000.-
900 less available than at the COM
mencement of the crop year 1920.
Assuming that the foreign demand
the coming year will equal the vol
ume of last, it can be argued that
the reduction in the amount avail
able may bring higher prices before
the crop year is ended Just at the
present time business conditions
generally do not seem to warrant
ideas of higher prices.
The Washington herald., 1921-07-10
By J. CLYDE MARQUIS.

The Joint Commission on Agri-
culture has completed its prelimi-
nary work in outlining a series OF
hearings and Investigations to be
followed in fulnlling the provisions
of the reholution of Congress au-
thorizing the commission. The
hearings, which open tomorrow. will
be devoted primarily to a descrip-
ton of the situation in agriculture
presented by farmers, representa-
tives of farm organizations. and
other organized agricultural bodies
to give a preliminary groundwork
for the committee to determine the
exact directions which its investiga-
tions should take. The farm or
ganizations represented in wash
ington have prepared summaries OF
the agricultural situation, and are
cooperating with the committee by
securing reports from various Sec
tions from their constituent bodies
They anticipate that a large mass
of material will be available for
the committee to consider next
week.
This investigation will be the
first comprehensive study of the
status of American farming since
the Roosevelt Commission on Couu-
try Life in 1910. At that time Con-
gress authorized a comprehensive
survey of country life conditions.
with a special reference to the
standard of living and the social
conditions of country life. The
commission. included such we'll
known country-life authorities as
the late Henry Wallace, father OF
the present Secretary Of Agricul-
ture; Walter Page, afterwards Am
bsssadorr to Great Britain; Kenyon
l. Butterfield. president of the
Massachusetts, Agricultural Col
lege; Clifford Pinchot, of Pennsyl-
yania, and Charles S. Barrett, pres
ident of the Farmers Union.
The Roosevelt commission studied
the situation by holding hearings
at many points in the country.
through several months, and pre-
pared a report which has been the
basis for sevedal important agr,-
cultural improvements inaugurated
since that time. This study first
brought to popular attention the
need for a better agricultural edu-
cation for mature farmers in the
details of farm management, and
the rapid development OF the county
agricultural agent system, and ex-
tension education in agriculture
followed the agitation of thar
period The later adoption Of the
Federal Land Bank system and
other less important farm improve
ments may be traced to the impetus
given by the surveys of the Roose-
welt commission.
A link between the previous sur
vey of agriculture and the pSesent
congressional commission is found
in the fact that President Barrett,
of the Farmers Union, was a prime
mover in both instances. He was an
active member of the Roosevelt
Commission and has been one of the
most ardent supporters of the pre-
sent effort to develop a thorough
The Washington herald., 1921-07-10

NEW YORK, July Sit was In
sisted by some of those brokers who
had much to do with the violent
movements in the industrial issue
during the week that there had been
no essential change in trading con-
ditions and that price movements
continued to be directed by COM
binations of speculative operators
who have been dealing stocks on an
extremely large scale and for some
time have practically had the market
in their absolute control. Brokers
generally acting for one Of these
operators often referred to as a bear
plunger. bought fully 100000 shares
of various stocks on Wednesday and
Thursday and many in the Street
jumped to the conclusion that this
action meant that the active op-
orators in the market had deserted
the bear side and had taken a posi-
ton on the long side of the market
because of some Information that
had been obtained by them in re-
gard to coming developments. This
assumption, however, was disproved
yesterday when the same brokers
appeared as sellers on a large scale
and pressure coming from these
sources were effective in putting
prices of many issues down to new
low records. Many outside specula-
tors who had bought stocks on a be-
lief that a sustained upward move
ment had started were hurried SELL
ers when the violent decline occurred
yesterday afternoon.
Although the Street generally
jumped to the conclusion that the
action of the United States Rubber
directors in deferring dividend dis
tributions amounted to a suspension
of dividends. interests concerned
with the control of that property in
sisted that the action taken was
correctly specified in the announce
ment made on Thursday. There was
good deal of discussion as to the
The Washington herald., 1921-07-10

agement and representatives of the
employees 1t has actd as a clear
ing house for the disposition of
disputed questions and a proof of
its work and its successful opera
tion lies in the fact that up to the
present time no questions has come
before this body that has failed Of
settlement.
The method followed in settling
controversial matters with our en-
gine and train service employees has
so appealed to certain other classes
of our employees that we are in re-
ceipt of a request to establish for
them joint reviewing committee
along lines similar to that followed
for employees in the engine and
train service.
The method followed by the
Pennsylvania system management
in complying with the terms of de-
cision No. 11s has been one of alb
solute fairness 20 all concerned"
The Washington herald., 1921-07-10
DAVIS DEFINES :. !
FIGHT AGAINST :
IMPORT OIL TAX
Says Standard and Others
Are Lined Up Against
Independents.
MEXICO A FACTOR
Charges Decentralization Re-
suit of Free Importation of
Cheap Mexican Crude.

william n. Davis, president OF
the Mid-continent OIL and Gas As
sociation, yesterday gave out the
following statement:
The opposition 10 import duty
on OIL. as provided in the Fordney
tariff bill. by Standard Oil and other
large corporations producing and
importing Mexican petroleum. has
created a situation which makes Il
imperative that the issue be clearly
defined as a battle between the
Standard and similar corporations,
on the one hand. in an effort to IN
crease their dominating control OF
the oil business: and, on the other
hand, the $4,000 independent pro-
ducers and refners who are struE-
Cling for their business and nnsn-
cial existence
Cause Of Denorsr1.stfer.
The demoraliIed condition Of the
oil industry in the United States
is almost entirely due to the free
importations Of cheap Mexican
crude. Domestic production has in
creased until IL more than equafs
consumption. Imports from Mex
leo are creating a surplus OF sp-
proximstely IS per cent. which Is
the cause of the Generalization or
the industry. Not only are the great
corporations making immense pror-
its through importation OF this
cheap foreign oil. delivered at
fraction OF the cost Of production
in the United States. but they will
avail themselves OF the financial
distress and necessities OF the in
dependent oil producers in tnfs
country to purchase their properties
at a fraction OF their real worth.
The Washington herald., 1921-07-10
FINANCIAL STATEMENTS.
REPORT OF THE CONDITION
OF TIE
Peoples Commercial &
Savings Bank

At Washington, In the Distrset ef
Columbia, at the close Of busi.ess
June 30. 1921.
The Washington herald., 1921-07-10
Cuba Removes Ban on Rice.

The Cuban prohibition against the
importation of rice. which is one of
the chief prodocts imported into
Cuba. has been raised by presi-
dental decree. Consul General C. b.
Hurst yesterday Informed the De-
partment of Commerce. No increase
was made in the retail price at which
ricesmay be sold, il is stated.
The Washington herald., 1921-07-10
st. Johns Picnic Tuesday

MOUNT RAINIER, Nd. July g
The annual ri :n'c and outing of the
Sunday School of ST. Johns Episco-
pal Church will be held Tuesday at
Glen Echo. Malcolm Reintzel, su-
perintendent of the school, is in
charge of arrangements
The Washington herald., 1921-07-10
PElNNSY OFFICIALS
OUTLINE REASONS
FORRECENT STAND
Results Obtained After
Negotiations with Own
- Employees.
u. S. RULES IGNORED
Satisfactory Results Obtained
Through Direct Negotia- =.
tions with Men,
u. S. RULES IGNORED

CHICAGO, July Sin support OF
its position taken yesterday BEFORE
n. United States Railroad LABOR
Board the Pennsylvania Railroad
made public today the following
summary of the results Of its ne
gotiations with its own employees
on tie subject of rules covering
working conditions.
TIL. signal department employees
selected their representatives when
neTotiations were begun and have
been concluded satisfactorily to the
employees and to the management
with the exception of the question
regarding the payment OF punitive
overtime for service beyond the
.ixht hour, Sunday and holiday
work and travel time, which ques-
tton has been referred to your
board In a joint commission
with the maintenance OF way
employees negotiations are under
way.
with the marine department en-
uloyes of Philadelphia harbor com
rnittee were elected and negotia-
tions have been concluded and your
board SO notified.
with the marine department en-
pioyes Of New York haroorr neSo-
ttztions are under way.
with the telegraph department
ernployes committees were elected
and negotiations are under way.
with the clerical forces COM
rnittees were elected and negotia-
tions are under way.
with the cooks. walters, and
restaurant employees negotiations
have been completed satisfactory
10 the employees and the manage
nnent and with the dining car stew
ards negotiations are under way.
Majority Concluded
-Neeotiations have been conclud-
ed with the engineers, firemen.
hostlers, conductors. trainmen and
switch tender and the only matter
remaining open between these
classes of employees and ourselves
IN the question Of overtime in road
freight service. which question was
submitted to your honorable board
on June and decision requested.
This matter Is still in the hands CT
your board awaiting decision.
Notwithstanding the attitude of
System Federation 90. we would
most respectfully call the attention
Of the board to the situation ex-
isting at Altoona works. which is
the manufacturing plant of the
system At this point the employees
elected their representatives by a
voting system similar to the Aus
tralian ballot They have negoti-
ated and concluded a schedule of
regulations satisfactory to the rep
resentatives of the employees and
the management and your board
was 50 notified on June 80. 1921.
These-regulations were made effec-
tive July 1. 1891. At the other
points, on the system, namely. in
each Of the four regions the shop
crafts employees elected their rep
resentatives and negotiations are
under way.
Recalls Committee.
We also wish to call your at
tention to the creation December
-, 1890. by our engine and train
service employees and ourselves OF a
joint reviewing committee which
began to function in February, 1921,
and has been functioning since in
4 manner satisfactory to the en-
ployes, and the management. This
Joint reviewing committee receives
for adjudication all matters which
cannot be settled between the man
The Washington herald., 1921-07-10
TMELYWAu STREETTOPICS

financial position of the company
and the directors after the dividend
meeting stated that at the present
time they had no intention Of taking
any financial steps except that of
reducing government losses. Those
loans hzve been materially reduced
according to ofncial statements from
collections on footwear accounts and
the situation in the footwear busi-
ness has improved to such an ex-
tent that mills engaged in this work
that were shut down several months
ago will resume operations next
week. No meeting of the directors
Is scheduled until next September.
There was a material change In
the time money situation in the past
week dealings being on a larger
scale than In any previous week for
over a year past One firm alone
placed s5.0oo.0o0 of time loans at 6
per cent for periods extending all
the way from thirty days to four
months and on the two classes of
collateral all industrials and half in
dustrials and half rails. Six per
cent continued bid after the close
yesterday with some offers of sh
per cent. hut IL could not be regarded
as a market in which there was
evidence OF supply as all the busi-
ness transacted consisted of fliing
Of bids by leading banks. 1t was
thought by some that the per cent
rate was because most OF the money
was supplied by institutions never
charging more than per cent for
time money, but brokers transact
ing most Of the business said that
there was no foundation for this
understanding as the supply of
money came from sources including
lenders who are not disposed to make
any concessions. The advance in
call money yesterday was said by
them to be chiefly due to withdrawal
Of time money becs-,se of the dis
satisfaction Of the 5h per cent rate
prevailing during the greater part Of
the week
Dividend reductions and suspen-
sions continued TO cause unsettle-
fnent in security trading and made
the matter of dividend distribution
of greater interest than any other
factor in directing price movements
Just before the United States Rub
Der dividend meeting was held that
stock had a quick advance OF nearly
points to 76. but the announce.
ment of the directors action in de.
ferring the dividend was not made
until long after the close on Thurs.
day. This made ii come with in.
creased influence as a disturbing
factor at the beginning of business
yesterday. the first sale OF United
States Rubber being at a decline OF
points. International Harvester
was unsettled yesterday afternoon
when the Street was full of predic-
tons of a coming suspension OF
dividend payments on that stock anc
heavy offerings carried its price
down to a new low record in the
last half Of the day. Dividend un-
certainty was brought forward as
the reason for selling many other
stocks, but the outlook in regard to
dividend distribution has not actually
changed as compared with the sit
uation that existed before the two
days rally in the, stock market oc-
Cured
The Washington herald., 1921-07-10
FINANCIAL STATEMENTS.
REPORT OF THE CONDITION
OF THE
United States Savings Bank

At Washington, I'm the District Of
Columbia, at the close of business
Juae 80, 1871.
The Washington herald., 1921-07-10
PENNSY OFFICIALS EXPLAIN RECENT STANDDAVS SCORES STA
Industrials Average 36-Point Gain IN Week.

NEW YORK s-For
compared with last of
Evening star., 1921-06-10
LOUISVILLE PAYS HONOR
TOA. T. HERT'S MEMORY
Funeral Services Today. With
Episcopal Bishop of Kentucky
Officiating, Largely Attended.

LOUISVILLE. KY. June 10.-Final
marks of respect are being paid by
sorrowing city to Alvin T. Hert,
capitalist and politician, whose fun
eral today brings to a close an active
and successful career. Mr.. Hert died
Tuesday in Washington, where he
had gone to attend a meeting of the
republican national executive COM
mittee. of which ne was the member
from Kentucky.
Beneath the friendly boughs of two
majestic beech trees at his country
home. the Rt. Rev. Charles E. Wood
cock, Episcopal Bishop of Kentucky.
and Dean r. L. McCready of Christ
Church Cathedral, will conduct the
funeral services. Some of the most
successful business men and poll
ticians in the country. members of
British royalty. associates and
friends, and servants will mingle in
this hour. The cortege to the vault
in beautiful Cave Hill cemetery will
be restricted to members of Mr..
Hert's immediate family.
= The active pallbearers are men who
were his business associates. Num-
bered among the honor pallbearers
are members of President Harding's
cabinet. the republican national
executive committee, the republican
state committee, former Gov. Frank
o. Lowden of Illinois, Gov. Morrow of
Kentucky and many other men promi-
nent in the nations business and poll
tics.
Evening star., 1921-06-10
CoLLIDED IN FOG.
Captain Of seapool Describes Strik-
ing of Iceberg.

ST. JOHNS. n. F.. June 10-A thick
heavy fog prevented the lookout on
the steamer Seapool from seeing the
iceberg she struck early Wednesday
morning. Capt. Bartlett. her skipper,
said today. The steamer arrived here
last night. damaged to some extent
but not enough to prevent her con-
tinuing the voyage. She is laid up
here for repairs. with her cargo in
tact.
The steamer was travelling at only
half speed when the accident occurred
Capt. Bartlett said. but despite the
fact that the engines were reversed
the ship hit the iceberg with tremen-
dous force. The berg. he said. tow
cred a hundred feet above the ship
The bow Of the seapool was crumpled
in and her forepeak was flooded. but
no water was made in the forehold
Her pumps were kept going until she
reached this port.
Evening star., 1921-06-10
|SH|P STRIKES Mine,
|ExPECT MANY DEAD
Greek Steamer Founders in
Aegean With 265 Aboard.
Details Lacking.
By the Associated pre.s

By the Associated Press.
ATHENS. June 10 (Reuters).-Many
lives are believed to have been lost in
the sinking Of the Greek steamship
Bouboulina, which has struck a mine
and foundered in the Aegean. The
Greek battleship Lemnos has arrived
at Piraeus from Smyrna with two
passengers who were picked up. De-
tails of the disaster are lacking.
PARIS, June 10.-The mail packet
Bouboulina. which has been sunk in
the Aegean by a mine. had 240 pas
sengers on board. beside a crew of
twenty-five. says an Athens dispatch
to the Radio Agency.
The Bouboulina was formerly the
steamer Coronilla. She was built at
Newcastle. England. in 1873. and was
owned by ]. G. Bouboulis of Spezia-
She was 25s feet long and had beam
Of thirty-two feet. Her registered
tonnage was 1912.
Evening star., 1921-06-10
WILL GIVES GRANT FLAG.
Gen. Porter Provides for Custody
in Memorial Association.

NEW YORK. June 1o.-The American
iag used at Gen. Grants field head
in his tomb on Riverside Drive, has be-
.ome the permanent property Of the
Grant Memorial Association by the will
of the late Gen. Horace Porter. A fund
Of $4,000 is left to the same association
for the care and maintenance OF Grants
tomb.
Gen. Porters servants were among a
number Of beneficiaries. each receiving
a'year's salary. In addition, the will
Cancelled a mortage for $7.100 on the
home Of George F. Holt, the generals
chauffeur Most Of the estate went to
relatives.
Evening star., 1921-06-10
SIGNAL CORPS PLANS.

Reorganization of the District Signal
Corps. formerly of the 104th Field Signal
Battalion. 29th Division. was decided
upon at a meeting held Monday even
ing. Those present were F. Reifenburg.
r. l.. Schriner. M. F. Keen and H. K.
Rfdgley. The corps will be held together
as a chapter. it was decided, in memory
of ]. N. Dorsey, who was killed in the
Meuse-Argonne offensive.
Evening star., 1921-06-10
STEAMER SAFE IN PORT.
Ship Which Strikes Iceberg Ar
rives With Decks Awash.

By the Associated Press.
ST. JOHNS. N. F.. June 1o-The
American freight steamer Chariot. still
staggering from the effects Of a collision
with an iceberg yesterday, reached this
port today. Capt. Albert Ricca and his
crew had made hard fight through the
night to stay afoat. When the crippled
ship slipped through the narrows her
decks were awash and her boats swung
outboard, ready for launching. in the
event of the foundering that appeared
imminent
The Chariot, bound from Philadelphia
for London and Hamburg. was 200 miles
from this port when she encountered the
ice yesterday. She had left here several
days ago. after effecting engine repairs.
Capt. Ricca reported that the steamer 8
bow was stove in by the blow. The
water reached the areroom last night
and he found it necessary to send out a
i, call for help.