davidaulloa/AmericanStories huggingface dataset:
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16

to $t.2O. Corn finished &c off to
&c TO Il c up and oats Gained "a c
to &c to &c. In provisions, the
outcome varied from ~ c decline
to a rise of 10c.
The farm reserve estimate which
was current put the total at 419,-
100000 bushels $ agf' t 477,000,-
coo bushels last yea Apparently
this SHOW irg would a disap-
poIntment to the bulls, but there
was much question as to whether
the amount II 0Ok in seed
requirements and also whether
country mill and elevator stocks
were included. One comment which
attracted attenti n was that If the
estimate should finally be ut out
as official it would difficult to
reconcile with previous reports
generally accepted as to consump-
ton, exports and incr ed visible
supply since July l amounting to
more than 3O0,000,O0N bushels.
Corn and oats were governed
chiefly by wheat Rural offerings
lacked volume.
Provisions averaged little high
err with hogs.
Closing prices:
Wheat - Dec. s1.15%; May,
s1.19fs.
Corn-Dec., 47kc; Ma. 53hc.
Oats-D' =, 34Bt; May, 3S$c.
Pork-Jan., $500.
Lard-Jfn., So: March, $500.
Ribs-Jan., 1852; y, & 80.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
FlNpS PRICE MOVEMENTS
CONFUSED; Value OF GERMAN
MARK APT TO Decline FURTHER
Foreign Trade Drops Again With Wheat Ex-
! ports Touching Low Record of July; Rever-
y sal In Oil Situation Causes Surprise; Steel
Reports Are Disappointing.

to the reluctance of American
banks and business men to initial
the British and German practice
and grant their foreign customers
credit over extended periods?
The Reversal in Oil.
The experience of the oil trade
during the last two weeks repre-
sents the most astonishing reversal
which any industry has yet been
through. Less than a month ago
over production was the phrase
everywhere used when referring to
oil. To be sure, there were signs
that September would see q sharp
curtailment in output at the wells.
There were the other and now very
familiar intimations that Mexico
as a source of supply was giving
out, and the Mexican companies
would have to turn to American
oil reserves to fill their needs.
But few took these suggestions Sc
riously and it appears to be n fact
that the great majority of oil men
themselves have been completely
surprised by what has happened
during the last fortnight.
Whether or not so rapid an adj
vance will hold is a question which
will not be settled until the latest
figures on production and con-
sumption have come to hand. But
in the meantime we have had an
example of how, when buying
starts up in any commodity after
a long interval of stagnation, it is
apt to mount and spread with Il
rush. 1t is the old story of in
tending buyers who have been
holding off and holding off, fin
ally seized with the fear of miss
ing their market
steel Reports Disappointing.
The steel reports for the third
quarter, judging by the reception
given to the Lackawanna Steel
figure, are going to be taken as
decidedly disappointing. At the
moment they have nullified the Ia
vorable sentiment created by last
months advance in sheet and
wire prices and the increase of OPP
erations at the mills However.
these quarterly reports do not In
the least undo the evidence that
the turn in the steel trade came In
w lllle ~ IldS NV ~
gone far enough for the independ-
ent steel company to begin ma
money again, 1t will keep on grad
ually until by next spring, so it 5
expected, business VIII be back to
sonnet ing like normal.
The Wage Scale Difficulties.
The railway problem has
more become acute because of the
pressure, which the carriers
viii scarcely be able TO resist, to
reduce their freight rates. Evil
IDENTIFY If rates are reduced wages
must come down also or else the
gain accruing under the ~ per
cent reduction of last July will he
jeopardzcd. But with the rail OPP
cratives not even accepting the
July reduction, and threatening to
strike, the difficulty of putting
through another lowering of tho
wage scales would seem to be so
great as to be almost insurmount-
able
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
THE MARKETS

New 70. oct. 15.---Over night
Development II the railroad situa-
lion unsettled today stock mar
ket sessions. rails of the investment
division rtacting one to three
points.
The versa. extended to steels,
equipments and numerous allied
issues, but domeiti oils followed
their rece movement into W
high ground. Several forei oils,
especially Mexican Petroleum, also
were subst- ntially better.
Elsewhere trading vas of a des-
ultory cnara etc., -pecialties tend
ing mai ly dow. ord Nith a new
low for American Sugar. Pierce
Arrow com on an preferred were
unusually active at n eri.l ad-
vances. Sales. 275.000 shares.
Aside from tn 31ss. which ose
slightly over fifty points. dealings
in Liberty bonds were dull and fea-
tureless. TIL general DC d market
was irregular, Cuba Cane Suga Is
being conspicuous among foreign
issues for further decline G. two
points.
Another sharp RAIL- In British
rates with demand sterling at
$3.S9K, almost Its over thJ
weeks minimum ar the further
slump in re: a marks to a level
approximating 65-100ths, directed
renewed attention to chaotic con-
ditions abroad. lost OF. Euro
pean rates : ere better on limited
dealings. The cleari house
weekly statement was devoid of in
teresting features. loans and dis
counts revealing only a moderate
expansion. Ger holdings increas-
ed by $11.000.0o0. however, with
consequent increases of exc Z re-
serves to s39,000,000.
Total S; -, par value. aggregat-
ed s7.162,000.
Closing prices:
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16

In view of the prospect for light
sowings in Russia this fall and no
surplus there next year, it would
seem to be good policy to sow a
larger acreage OF wheat in the
United States this fall.
1t docs not appear that the posi-
ton of agriculture or any of the
primary industries has generally I'M
proved during recent months. The
cotton producers have gained by
the increased value of their carry
over; tobacco, and dairy products
are bringing better prices, and
wheat is on remunerative basis,
but hogs have suffered a heavy
slump and are now with cattle and
sheep down TO about pre-war prices.
Taken as whole the prices of
farm products are so far out of line
with the prices of manufactures and
charges for transportation that the
usual exchanges cannot be made.
Hsnce the state of unemployment
in the industrial towns.
The whole business situation is
ciogged and obstructed not only by
the high cost OF railroad operations
but high industrial costs, placing
goods beyond the purchasing power
OF consumers. This is the principal
reason why millions of men are out
of work and it will have to be
sQuarely faced before any general
recovery can take place.
The sunshine cure is no remedy
for this situation. Prosperity will
not be created by cheerful talk while
this unbalanced state Of industry
exists. 1t via not be created by
unemployment conferences unless
they bring about an understanding
of the necessity for reducing in
dustrial costs. Such mal;c-shifts as
spreading what employment iii, re is
10 include the unemployed and Gre
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
(BY STUART p. WEsT.)

tCopyright 1921 by Albuquerque Journal
New York, oct. 15.-The main
developments of the week bearing
on the financial situation have been
extremely varied. The decision of
the allied supreme council threat
ening to take upper Silesia from
Germany was fol owed by the fresh
collapse in the value Of the mark.
The September figures of our for
eign trade show, / that exports
have not impro- ed over the July
minimum. The remarkable rccov-
cry in oil prices continued. En-
phasis was laid upon the fact that
the steel companies despite the re-
cent advance in prices, are still as
a rule losing money, and finally
the railroad situation had taken an
unfavorable turn due to the insist
ence that rates come down and the
great difficulty that evidently
would confront the carriers II they
were to attempt another reduction
in wages.
Price Movement Confused.
This tumble of incidents, some
good, some bad, have naturally pro-
duced a very confused price move
ment in all the markets. There is
as yet no suggestion that Germany
will repudiate her currency as Aus
tria Is supposed to be facing the
Reputation of hers. But the Ger
man government officials and fl
nanciers are on record as predict
ing that. deprived Of the enormous
ly valuable Silesian mines a still
further shrinkage in he price of
the mark would be inevitable and
with 1t the ability to meet future
installments OF the reparations
money would even more seriously
be called into question. There is
no reason to challenge the good
faith of these opinions. This weeks
break in mark exchange to 10 Of
a cent Is q sufficient indication OF
the mind of financial Europe.
Export Trade Falls Off.
The September foreign trade
statement has furnished fresh ma
terial for those yho ma:nt,,in that
the slackness in Furope's buying
power is the chief stumbling block
in the path of trade recovery at
home. August exports rose over
those OF July only h ,ause of the
aDnOTmal WHeHt SHlpHleI'S' ne
falling off in the wheat movement
in September forced the export
totals back to the low record of
July.
The meaning OF this is that the
foreign demand for everything but
wheat and cotton Isl still at the low
est ebb since 1914 Our bankers
and merchants and roltical lead
ers continue to talk about the ne
cessity of stimulating the export
trade ard the remedy they suggest
Is the granting o" long term credits
on a large scale, the wav 1t has
been done in certain industries, like
copper and cotton in n small way,
but nothing practical has yet come
from these urgings. What has be-
come of the s100,000000 foroic'n
finance corporation about which
there vas so much OF stir last
winter? Are we to assume that
the failure OF this and other
schemes to make progress is due
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16

w lGH d kCbCldl STATE
of confusion exists in which the ex-
changes cannot be made as usual,
production slows down. The inSi-
vidual employer cannot go on MAX
ing goods unless he can sell them.
When his outlet is closed he shuts
down, and when he stops buying
materials and paying wages an out
let for other products is closed.
Employers and employees are alike
affected it is not situation to
quarrel over, but to investigate in
diligently, to find the original cause.
The existing situation presents 4
test of the quality Of labor leader
ship. Has it the foresight, the
wisdom and courage to act for the
best interests Of the whole body Of
wage-earners and of society as a
whole2
Undoubtedly the responsible labor
leaders are in trying position.
One of them is quoted as saying
that labor unions arc not organized
to reduce wages" but are expected
to secure advances rather than re-
auctions. Leaders, however, de-
pend for their lasting influence upon
their ability to lead wisely and to
serve the real interests Of their fol-
lowers, which means that they must
serve the best interests of the pub
lie as well. There is no achievement
worth while for any class unless it
A. Al -
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
A Remarkable Record.

Chamberlain Cough Remedy
has a remarkable record. 1t has
been in use for colds. Group and
whooping cough for almost half a
century and has constantly grown
in favor and popularity as it's good
qualities became better known. 1t
is the standard and main reliance
for these diseases in thousands "
homes. The facts that 1t can always
be depended upon and Is safe and
pleasant to take are greatly in its
favor when 1t is wanted for chill
dren
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16


buy cotton at the new quotations
and advance the price OF goods
accordingly.
Retail merchants are vigorously
opposing advances in all textiles and
insisting that lower prices are neces-.
sary to create a good volume OF
.rade. The situation is unsettled,
with opinion spreading that costs
must be reduced both in the manu-
facture of cloth and in the garment
trades. .
In many lines there is stir OF
increased activity, attributable to
fall trade. Crop moving is not,
however, affording the normal slim
illus, owing in part to the low prices
Of farm products and in part to the
TACT that the proceeds are going
largely to pay old debts. However,
there is a more cheerful feeling as
debts are paid or reduced. There
is not enough business to go around,
which makes competition sharp,
with profits at the minimum. -.
The wheat crop of the United
States and Canada stands at latest
estimates about the same as year
ago, and the worlds crop is about
the same as for last year. About
l35 million bushels were exported
(cither as whole grain or -FOUR be-
tween July and October |.
1t has been recognized in we'll
informed quarters throughout the
last two months that the price OF
wheat between now and the next
harvest depends largely upon the
crops in Argentina and Australia,
two countries which have their
harvests in Our winter season.
Neither OF these countries ships
wheat to the United States, but
their surplus completes with ours
in Europe and the price Of the sur-
plus makes the prices everywhere.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
ENORDSED.

Foreign. No. 11176. Cor Reed.
Vol. 7, Page 1903. Certified Copy
of Amendment to Certificate of Ina
corporation of FL Paso Cattle Loan
Company, increasing capital stock
from $500, 100000 to s900,000.0o.
Filed in office of State Corporation
Commission of New Mexico Sep
TENDER 20. 1921, $3.50 p. m.
A. M. MORRISON. Clerk.
Compared: ICK to JJO.
INDEXED.
State of New Mexico. Countv Of
Bernalillo, ss
This instrument was filed for
record on the 4th day of October,
1921. at 1910 o'cloc'; a. m. Re-
corded in Vol. Z Miscl. of Records
of said county, folio SO.
(SeaD FRED CROLLOTT,
Clerk and Recorder.
BY s. CROLLOTT, y
Deputy Clerk.
Compared: EG to &c.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
FOREIGN EXCHANGE.

New York, Oct. 15.-Foreign ex.
change ir. egulcr. Great Britain
demand, $3.50: cables. s3.S9%
France demand, 1872; cables, 1924
Italy demand. 404; cables. 404h
Belgian demand, 720; cables
7201k. G., my demand. 65k
cables, &c. Holland demf nd, 1852;
cables, 1914. Norway demand
1925. Sweden demG.ld. 1920. Den
mark demand, 1910. Switzerland
demand, 1910. Spain demand
1896. Greco, der md, 42S. Ar.
gentina demand. $3.50. Brazil de-
mand, 1".75. Montreal. 81"
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
LIVESTOCK IdARKE-s.

Chicago, Oct. 15.--Cattle- e.
ceipts 1000. Compart i with week
ago: Corn fed steers and yearlings
mostly 25c TO soc higher. sp' 8 on
yearlings UP more; grassers, warm
cd Up steers and she stool. steady
to Csc higher; bulls weak 15c
lower; light veal c.lves unchang-
ed; heavy calves unevenly higher;
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
CHICAGO BOARD OF TRADE.

Chicago. ct. 15.-Unc rtainty
regarding farm reserve figures
credited to he government but not
officially issu = from " shington
gave an advantage to bears in
wheat today during most OF the
session. Week end evening up.
however. c"used a rally. The close
was unsettled at Nc net decline to
a like advance. with December
$1.15% to $t.15H and May S1.1sh
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16

stoc. ers and faede strong to 15c
higher.
Hogs-k eceipts 1000. Market
uneven. Iis..t lights steady to loo
higher; others steady to 1Oc lower
than yester avs average. Top.
$3.50; best i. hit md light butchers
SS.30@S.50; bulk packing VS.
s6.50@I25; holdover liberal; pigs
strong; bull, desirable leo to 130-
pound pigs, SS.25@S.S5.
Sheep-Receipt 0c' Receipts
today practically all packer direct
Compa.ed with week ago: Killing
classes steadv to Csc higher; feed
ers Csc higher.
Kansas City, Oct. 15-Cattle-
Receipts 800. For week: Beef
steers generally 15c to soc higher,
some short fed steers up mCre, top
$1025; fat she stock Gamers and
cutters steady to Csc lower: bulls
steady to weak; callers steady,
heavy calves strong to soc higher;
stockers and feeder mostly Csc to
soc higher: stocl cows and heifers
steady; stock calves mostly Csc
higher.
Hogs-Receipts 200. Market
generally steady with Fridays av-
erage. Prime 211 to 300-pound
weights sS.0O@s.15: medium to
good light mixed. s7.65; packing
sows. s6.509 700; stock pigs
steady.
Sheep-Receipts 600. For week;
Sheep steady to Csc higher; top
lambs steady to 10c higher Top
western, $500; feeding lambs 35c
to SOC higher.
Denver. Oct. 15.-Cattle-Re
ceipts 300. g 1g Csc to 40c low
err. Beef -teers, $50, = 6.25; cows
and heifers. s4.25@J.25; calves,
sS.00@10.00; bulls. s2.50@5.00;
stockers and feeders, s4.50@ 800.
Hogs-Receipts 100. Market
steady. Top, $500.
Sheep. eceipts $500. Market
steady. lambs. $7.5O@S.25; ewes,
$2.O0@ 400; feeder lambs. s6.25@
z OK
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
CHICAGO PRODUCE.

Chicago, Oct. 15.-Butter-Mar-
ket lower. Creamery extras. 44hc;
firsts, 35Q44c; seconds. 9 \ 1c;
standards, 3c-;,s.
Eggs-Market unchanged. Re-
ceipts 5,3S7 cases.
Poultry--A,ive. unchanged.
Potatoes-Mark steady. Re-
ceipts 81 cars. Wisco.4 ir and Min
nesota white. sacked. $500 @ 2.25
cwt.; North Dakota white, bulk,
$500 CIV. inn. -ota and North
Dakota Red rive" Ohi1, bulk, $3.50
also cwt.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
Current Business Conditions
BY E. ROBERTS
Oobe)

ating employment upon
public works are at best
effective only as a means
of tiding over a TEN.
porary situation, and are
chiefly Objectionable be-
capse they actually post
pone the readjustments
that are necessary to the
restoration Of a normal
state OF industry. The
natural course for an en-
ployer to pursue when re-
auctions of force must be
made is retain the oldes:
and most worthy en-
ployes, and it is not likely
that many will be per-
suaded to do otherwise.
There is no way to
have prosperity except by
self-supporting balanced
industry-by the free and
natural exchange of prod
ucts and services - and
this requires that the
compensation of the peo-
pie in the various indus
tries shall be on such a
basis that they will
absorb each others
products.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
LIBERTZ BONDS.

New York, Oct. 15.-Liberty
bonds closed: Stas. $90.S2; first As,
$92,S0; seco d As. s92.6S; first
AIS. 1914: second AIS. $92.72;
third As. $94.::; fourth AIS,
$93.o2; VICTORY 3%s. $99.40; Vic
tory AXIS, 1894
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
LEGAL NOTICE

State of New Mexico, State Corpo-
ration Commission of New Mex
leo. Certificate of Comparison.
United tates of America. State Of
New Mexico. IS.
1t Is Hereby Certified, that the
annexed is a full, true and COM
plete transcript of the Certified
Copy of Amendment to Certificate
of Incorporation of Ell Paso Cattle
Loan Company, increasing capital
stock from $400,000.00 to $780,
10000 (No. 11176). it'll the en-
dorsements thereon. as same ap-
pears on file and of record in the
office of the State Corporation
Commission.
In Testimony Whereof, tie State
Corporation Commission of the
State of New Mexico has caused
this certificate to be signed by it's
Chairman and the seal of said
Commission. to be affiy I'd at the
City of Santa Fe on this 10th day
of September, A d. 1921.
(SeaD HUGH H. WILLIAMS,
Attest: Chairman.
A. L. MORRISON, Jerk.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
PRODUCTION IN THE UNITED STATES
DURING 1921

The following table compiled by the Federal Reserve
Bank of New York gives the available figures for
monthly production percentages of normal produc-
ton Allowance has been made for the normal increase
in production from year year and the normal seasonal
variation from month to month
Normal production - 1907
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
NEW YOR-1 COTTON.

New York, Oct. 15.-Cotton fu-
lures closed barely steady. Dec,
1921; jan. 1902; Iarch, 1888;
May, 1851 JAM, 1903.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
KANSAS CITY PRODUCE.

Kansas City, Oct. 15.--Butter
and poultry. unchanged.
Eggs-Mcrket 1c high :. Firsts,
41c; seconds, 29c.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
CLASSIFIED ADS

BUSINESS CHANCES
sOH sALE--,isTagc Ucsi mcaIiSG ~
town. Phone s79.
FOR sALE-Oue OF the best business
properties in Albuquerque. 2l5 South
First street. Inquire at Savoy Hotel Of
flee
FOR SALE-Forty-a dairy farm, on
North Fourth street; silage and alfalfa,
ready for feeding, concrete floor for
fifty cows; a real bargain. 400 West
Gold.
SMALL BUSINESS WANTED--Must be.
bona fide money-making proposition,
that can stand investigation. Address
Business" 124 North Mulberry phone
147S-J
WANTED-To establish fire insurance
agency In Albuquerque, Ell Paso or
southern California Address Fire In
surance, 22O North High. Albuquerque,
N. NJ
LARGE manufacturing corporation wants
capable men to open branch office and
manage statesmen $500 upward neces-
sary; handle your own money. Exclusive
rights; patented article; money-making
possibilities unlimited. Win pay ex-
penses to Baltimore II you qualify. Ad-
dress Secretary. 343, st. Paul Pl, Balti-
more. Nd
LARGEST manufacturer Of 14O house,
hold necessities, extracts, spices, soaps,
toilet articles, food products, medicines.
disenfectants, etc, now ready to con-
slider applications for sale of Its prod
ucts In Albuquerque. Exceptional oppor-
tunity TO Industrious man Cor woman)
Of steady habits who will work hard for
good profits. Lowest wholesale prices
for cash or time. For particulars give
age, occupation and references in first
letter. Address Box 50. care Journal.
LEARN OF the Vale Of Paradise, where
dreams come true. This wonder city
Is having a magic growth, and million
dollars In municipal improvements are
authorized for this year. Every kind OF
business opening here. We have seven
teen miles Of protected water front, with
gorgeously beautiful home sites. Won
derful homes. Wonderful velvety lawns.
Wonderful flowers in semi-tropical pro-
fusion. Fishing supreme. Every day yon
can catch the big fellows until your back
aches and your hands blister. Paradise
for motor boats, with hundreds or miles
of protected waterways with wonder Spots
to visit Finest motoring roads IN the
south. Bathing in bay and gulf wonder
full, Healthiest city in America, Witt
no business for doctors. Greatest golt
course in America under construction
Coolest place in America In summer oe-
lightful in winter. You may own oeau-
tiful home here. with perpetual income
at practically no investment Grasp the
opportunity Of a lifetime. Address THE
MAYOR, Valparaiso. Fla
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-10-16
(REPUBLICATION.)

Y
NOTICE FOR PUBLICATION.
Department OF the Interior, u. 8. Land
Office. at Santa Fe. N. NJ, Oct. s,
1921.
Notice Is hereby given that eaiomo
Montoya Chavez. of Alameda, N. NJ.
who, on December 7. 1917, made home
stead entry. No. 03433s. for EN- sen,
Ell sWA SEA-. Ell sen NwN sEA.
section 81. township 0 NJ. range 9 T..
N. M. p. meridian. has filed notice Of
Intention TO make three-year proof, to
establish claim to the land above de-A
scribed. before U. s. Commissioner. Al
buquerque, N. NJ, on November II, 1921.
Claimant names as witnesses: Qulrino
Coulter. Jacobo Medina, Augustin Aifaras.
NestorA Pachecho. all of Chilli, N. M.
A. M. BERGERE. Register.