davidaulloa/AmericanStories huggingface dataset:
Evening star., 1922-11-04
|ACTTVE COMPETITION IN 1928
PREDICTED IN TRADE WORLD
Huge Profits In Most Lines Are Believed
Unlikely-Present Business Activ-
ity Excellent.

successful In advancing prices and
reducing costs than others
The lines Of business most favor
ably situated in these respects can
year in 1928. Those that are not so
we'll of will have to be content with
a small return. 1t has not now. nor
Is 1t likely to be. time of extraordi-
nary profits, but rather q time Of ac-
tive competition.
Bond Market Rallies.
The recovery in United States gov
ernment bonds of the losses sustained
the previous week has been a stimu-
market in general. Still the i'm
portant change which has occurred in
the bond list is more In the nature OF a
rally than new advance. The main
upward movement In investment values
can only be resumed II one or the
other Of two things happen-either
money rates must work permanently
lower or the supply Of new securities
be SO curtailed that investment cap
ital will accumulate a surplus. With
more and more capital being alb
sorbed in Industrial lines. the first
likely. AS for the second. new issues
are still coming out in volume suf-
f1cient to absorb any increase In the
investment surplus.
German Situation Again Acute.
The German reparation matter has
reached another crisis, where oppos-
ing viewpoints promise to be brought
again into violent collision. The allied
commission is investigating on the
spot whether it is possible or not for
Germany to balance her budget. and
at fine same time provide for the full
indemnity schedules as they now
stand. The results of this investiga-
tion will shortly be made public. But
in the meantime the mark continues
to sink and the Berlin government
has let it's attitude be known. This
is that internal fiscal reforms cannot
be devised that will be adequate for
the purpose. and that either there
must be an international loan or a
reduction and postponement OF fu-
ture reparations payments.
French Securities Low.
The uncertain position of French
finance with this critical question SO
far from settlement has been illus,
trated during the week by renewed
weakness in French exchange. which
is down well to the lowest Of the
year. and by the comparatively low
selling prices of French government
securities. Italian exchange. on the
currencies Of the other European al,
lies for the first time and has had
quite a notable recovery.
Mainly this Is an expression OF the
hope inspired by the new political
regime that 1t will carry through
successfully the program OF hard
work and economy to which it stands
committed. But the Italian outlook
had already begun to improve before
the advent Of the fascist. The figures
Of the last two or three months have
shown substantial progress in the
defation of Italian paper currency
and in the expansion of government
revenue.
Copyright, 1929
Evening star., 1922-11-04
COMMODITY NEWS
WIRED STAR FROM
ENTIRE COUNTRY

AKRON. Ohio. November Rub
ber manufacturers are making plans
Tor an early expansion of business on
broad scale in anticipation Of next
years demand. One Akron tire COM
Pany has announced construction
program which will double its pres
ent output.
PHILADELPHIA. November A.
Sales of automobiles, both pleasure
cars and trucks, have been running
from 60 to 100 per cent above the
record for the corresponding period
of last year. Many Of the lower
priced cars are being sold on part
payment, but the more costly ones
are being paid for in full.
SEATTLE, November 4-North Pa
cific coast -four mills today are re-
turning to normal production. Full
are obliged to pay high prices Tor
milling wheat. The best grade Of
early wheat raised in the big grain
district Of eastern Washington is
quoted at S1.3s to $l.44 bushel at
Puget sound terminal. There is some
hard wheat coming in from Montana
and millers look for larger supplies
from that source.
sEDALIA, Mo, November 4.-North-
apples today at the lowest price in
years. Every orchard has produced
a record crop. Tho farmers are SELL
ing apples at from 80 cents to 81 a
bushel, depending upon the grade.
BOSTON. November 4.-Sales of
the leading Boston department stores
today are running well ahead of last
year and Of 1920. Retail merchants
in all lines report a quickening of
trade with the approach Of the holi-
day season.
DETROIT, November Paper
mills are working at capacity today.
Four mills in Monroe have put on
night shifts and are turning out 1000
| tons Of boxboard a day.
CHICAGO. November 4.-There are
| market inquiries now pending for
nearly $4,000 freight cars. an addi-
tion of 10000 within the last week.
Among the new buyers are the Dem
yer and Rio Grande, with 500 gon-
| dolas and 1000 stock cars; Northern
Pacific. with 5000 boxcars: Great
Northern, with $500 cars of various
types.
Evening star., 1922-11-04
BY STUART p. WEST.
Special Correspondent Of The Star.

NEW YORK, November IA, week
ago it was stated that the principal
subject of discussion in tho Wall
street situation was whether the
rapidly declining stock market at
that time was a mere downward turn
correcting previous overspeculation
or whether it portended a genuine
change in sentiment regarding the
financial outlook. 1t was plain
enough to those familiar with the
market ways that the decline could
be accounted for perfectly we'll on
the ground OF conditions on the stock
exchange itself. That is to say. 1t
had no reference whatever to the
situation in finance and industry out
side. But 1t was not until the latter
half of the past week that proof was
Afforded which was strikig enough to
satisfy the non-professional public
Then, without the slightest develop
ment in the trade news, without fresh
market suddenly turned about and
rushed back over the ground lost
with the rapidity that it had plunged
down.
Raids Influence Wall Street
1t is the accepted role Of the specu-
lative stock market to foreshadow
economic changes. and over the long
run it does perform this important
function. But Of the market OF the
last two months it cannot be said
that it has been of the least signifl-
canoe as barometer of business
conditions Rather it has responded
as no other market has done for
years to the shifting operations OF
certain Individual and speculative
groups-operations conducted with a
equaled in Wall street history.
The decline in the last fortnight OF
October was undoubtedly called for
by the extravagances of the midsum-
mer speculation. But. after all, II
was a raid of the crudest sort, de-
lative interests to get back cheaply
stocks which they had been distrib-
uting a month and two months be-
fore. With this object accomplished
the market rebounded readily and nc
further attempt was made to read
thing unfavorable for the general
trade outlook.
Business Position Little Changed.
ter of fact, has altered very little
from what 1t was early in Septem-
Der. Railway tonnage. as measured
by the weekly figures on car load
ings. has closely approximated the
maximum Of all time. Herein lies
the strongest evidence of the activity
of trade throughout the country.
Consumption of goods is back to
normal and production has to follow
How much profit is being made ou,
of this very satisfactory business vol.
ume is another question. Results
differ widely as between individual
industries. Some have been more
Evening star., 1922-11-04
GRAIN MARKET STRONG
IN SPITE OF BIG SALES
Weekly Summary Shows Demand
for Corn and Oats Rela-
lively Easy.
By the Associated Press.

By the Associates Press.
CHICAGO, November Assumed
scantiness of European stocks Of
wheat, together with estimates that
winter wheat acreage IN this country
showed a reduction Of 10 per cent. has
had a sustaining influence on the
wheat market this week as against
heavy profit-taking sales. Wheat
prices this morning, compared with
week ago ranged from q on to l ad-
vance, Corn was up q shade to u up.
with oats varying from u decline to
SAY gain, and provisions higher by
Is to 1872.
1t was a generally accepted opinion
that Great Britain had yet to provide
for half of her November requirements
of wheat and that other European
countries had been getting less than
enough to supply current needs. Mean
while, the outlook for domestic winter
wheat was declared by crop experts to
be the poorest for some years, both as
regards acreage and condition. Under
the circumstances, rising values car
ried May delivery to new top record
price for the season.
Prospective enlarged receipts Of
corn tended to keep the market for
corn and oats relatively easy.
Foreign buying and decrease in
warehouse stocks of lard were causes
assigned for an upturn in the provision
market.
Evening star., 1922-11-04
NEW YORK CURB MARKET

attracted most attention. Prairie
Pipe Line was a feature and advanced
sharply on the execution of moderate
market buying orders. Independent
issues were firm. Cities Service, old.
common rose more than a point, and
Fuel. Southern States OH was in
good demand at an advance.
Among the Industrial group New
Jersey Zinc was strong and moved
up several points on moderate trans
actions. National Biscuit new stock
was in fair demand. Gillette Safety
Razor was Influenced by realizing
sales, and a small decline took place
in Amalgamated Leather. The radio
shares were easy.
Mining stocks continued fairly
active and generally firm. Bonds
were quiet and steady.
Evening star., 1922-11-04
OPINION DIVIDED
ON STOCK UPTURN
Wall Street List Likely to Be
Very Irregular During
Rest of Year.
By the Associated Press,


NEW YORK. November 4.-The re-
action in the stock market. which
was a natural correction of a weak
ened technical condition. resulting
from the speculative excesses of last
month. was checked this week when
prices resumed their upward course
in virtually the entire list. Specula-
tive short covering furnished the i'm
petus for the advance. but 1t was not
long before new and substantial buy
ing power came into the market In
sufficient volume to Offset the usual
profit taking.
The initial advance was most
marked in industrial shares. which
had borne the brunt of the short SELL
ing, but as the movement progressed
the leadership was taken by railroad
shares. which had Jagged behind the
rest of the list In the previous bull
movement.
Opinion stin Divided.
Opinion is still divided as to how
long the upward movement will con-
t1nue. Traders generally agree that
the movements either way from now
to the end of the year will be of short
duration. with more or less irregu-
larity in active sessions. Some of the
large commission houses have been
they have held for long time on the
rallies. indicating their belief that the
major upward movement for the year
was nearing an end.
Industrial news continued favorable.
Latest statistics on car loadings
showed that they had crossed the
million mark for the first time this
year. and were within a few thousand
OF the record mark for all time, estab-
lished in 1920. Surplus freight cars
virtually have disappeared, and
equipment companies are being hard
larger systems. which have been
handicapped by the car shortage. The
shortage of unskilled laborers con-
tinues, and a further increase in
wages for this class before the end
Of the year in some Of the basic in
the financial district.
Strike Costs Rejected.
September earnings statements of
the railroads continued to reflect the
heavy expense entailed as a result
of the shopmen's strike, but the Octo-
Der statements. which will begin to
make their appearance next week,
are expected to disclose considera-
Bile improvement.
upward. Cash cotton touched 2470
cents during the week, a new high
record. Lead also was marked up
and a better demand was noted for
copper.
Auto Output booming.
October automobile production ex-
ceeded that of September. and while
the Ford shutdown in September was
partly responsible. sales are holding
up usuSually we'll for this time OF
the year. Studebaker was the first
of the large companies to announce
an increase in prices
Interest in the foreign exchange
market centered on the further
collapse of the German marks to
less than two cents a hundred, and
a new high record for Swedish
kronen, which were quoted slightly
above par. Sterling exchange held
steady. and some Improvement was
noted in Italian lire. In reflection OF
peaceful developments in the politi-
cal situation in that country, but
French and Belgian exchanges were
weak.
Evening star., 1922-11-04
American Wool Stronx,
FOREIGN EXCHANGE.
BY the Associated Press.

NEW YORK, November 4-Foreign
exchanges irregular. Great Britain
demand, 4.45N; cables, 4.46al. France
day bills on banks. 4.43A. France
demand, .o6s6A; cables, .06s7A. Italy
GUM, demand, .OS40h; cables, .0641
Germany, demand, .0001N; cables
.O601 11-16. Holland. demand, 1912;
cables, 1917. Norway. demand, .01s24
Sweden, demand, 1855. Denmark
demand, zoos. Switzerland, demand
1888. Spain, demand. 1925. Greece
demand, $780, Poland, demand
.0000%. Czechoslovakia, demand
0316. Argentine, demand. 1925
Brazil, demand, .1137. Montreal
LOO 1872.
Evening star., 1922-11-04
COTTON MARKET STRONG
AFTER YESTERDAYS RISE
Price of December Remains Over
IS Cents in Today's Active
Trading.
By the Associated Press.

By the Associated Press.
NEW YORK. November 4.-The
cotton market showed continued
strength and activity early today.
There appeared to be a lot of over
night buying orders around the ring,
while there was fresh buying en-
couraged by reports that New Or
leans authority estimated the crop at
100000 bales, and the opening was
There was covering on stop orders
and an active demand from the trade
on this advance which established new
high records for the season. but at
|25.42 for December and 2o.12 for
January the market attracted heavy
realizing.
This combined with a good deal OF
scattered southern selling checked
the advance and caused reactions OF
some Is to 25 points after the call
when trading continued very active
with fluctuations irregular. Liverpool
was a buyer of near months here and
there was continued trade calling In
December and January.
Cotton futures closed strong. De-
cember, 25.4S; January. $500; March,
24.96; May, 2474; July, 24.47.
NEW ORLEANS. November 4.-The
favorable tone of week end reviews
of trade in general, combined with
a private crop estimate OF 9,500.00O
bales, gave the cotton market very
strong tone today and sent 1t to new
high levels for the eason. December
rose to 2465. at which level the trad
ing positions were II to rs points
higher than the final prices of yes
terday.
Evening star., 1922-11-04
F1REsToNE's BIG YEAR.

AKRON, Ohio, November 6.-An-
nouncement of the regular quarterly
dividend on the Firestone Tire and
Rubber Company 7% preferred stock
was accompanied by g. statement that
the fiscal year ending November 1,
will probably prove to be one of the
most satisfactory in the history of
the company. while final figures are
not available, 1t Is said that the
number Of tires sold during the past
summer and fall has not only ex-
ceeded the best previous records for
these seasons, but that the years
total will be the greatest in the
history of the company.
Evening star., 1922-11-04
BALpW1N,s BIG ORDERS,

orders now on the books of the Bald
win Locomotive works total $41,400,
900. which together with business in
sight is expected to warrant increas-
ing the rate of operations to IS per
cent by the end Of the year, compared
per cent on September 1. The COM
pany's bookings during October were
38,309,048, which brought those for
the first ten months Of 1922 up to a
total Of $53,135,8 an increase Of
lot per cent over the corresponding
tan months Of 1871
Evening star., 1922-11-04
DAIRY MARKETS.

BALTIMORE. Md. November 4 (Spe-
ciaD.-Live poultry-Spring chickens.
pound, 20a22; leghorns, 16a1s; old
hens. 16a23; leghorns. 16a1s; old
roosters, IA; ducks, 20a25; small and
poor, 1s; geese. 22a30: turkeys. As;
pigeons, pals, 20a25; guineafowl, each,
45a7O.
Eggs (loss off)-Native and nearby
f1rsts, dozen, 50: southern, As.
Butter-Creamery, fancy, pound, 5oa
81; prints. 51a53: nearby, creamery.
4oa42; ladies. 32a34; rolls, 30a32; store
packed. 29a30; dairy prints. 30a32
process butter, 35a36.
Evening star., 1922-11-04
BY WILLIAM F. nEFFERNAN.

Special Dispatch to Tho Star.
NEW YORK. November New
outside buying continued on tho curb
exchange in the early dealings today
with some Of the larger commission
houses the leaders. Professional
operators and floor traders, however.
did not take part in the purchasing.
and after advances had been estab-
lished profit taking and some short
selling developed, which caused r.
regularity later in the short session.
Sentiment among the active moor
traders was less bearish than 1t had
been in some time, and many of these
operators are believed to have COW
cred most of their shorts In the past
few days.
Evening star., 1922-11-04
Washington Stock Exchange

Chesapeake and Potomac Telephone 6s-
q 900 at esA. $1,000 At esh. $1,000 at ssh.
81 900 at SS12.
$500 at 1914.
~ 77ia, 100 at 7s. 10 at IS, 10 at 70. at
ys, 10 at 7sls, 10 at 7s1s, 10 at 7eh.
Washington Gas Light at ST.
AFTER CALL.
Potomac Electric cons. 5s-$1, 600 at e6.
Evening star., 1922-11-04
Pat Is q Linguist.

From the Boston Transcript.
Pat and Norah were sitting In the
sheater before the performance began.
when the girl observed the word
"Asbe estos' on the IRE curtain and
inquired what 1t meant
''Whisht!" said Pat, "and don't be
displayin' your ignorance. Don't ye
know that Asbestos' is the Latin
Ne1d for .Welcome?"
Evening star., 1922-11-04
Grain, Produce
and Live Stock
WHOLESALE PRODUCE MARKET.

WHOLESALE PRODUCE MARKET.
Meats in general were pretty we'll
cleared up in the wholesale market
this morning, only the hind-quarter
type Of beef being draggy. Fore
quarters are very firm. but this is ac-
counted for by the season of the year.
Sometimes. local dealers say. fore
quarters can't be given away. while
at other times they bring high prices.
Strictly selected eggs are at pre-
MUM. while nearby fresh are passing
or at around So cents. Butter is hold
ing its own.
Poultry was also cleaned up this
i morning. Prices were stationary, and
between now and Thanksgiving very
little activity is expected with chick
ems and hens. The turkey takes pres
tige. small number Of which are be-
ginning to arrive now.
Fruits and vegetables are slow.
Some local turnips and parsnips are
| on the market, together with mix
| ture of local and New York cabbage.
String beans are running freely from
South Carolina.
Eggs-Strictly fresh, selected. can
| 3oa32
Live poultry-Roosters. per lb, 15:
| turkeys. per lb.. 35a40: spring chick
ems. per h., 23a24; keats. young, each.
| 50a6o: fowls. each. 22a23.
| Dressed poultry-Fresh killed spring
! chickens. per h.. 27a2s; hens. per lb.'
| 25a26: roosters. per lb., 20: turkeys,
| 6oa7O.
! Live stock-Calves, choice. per lb..
4; medium, per lb.: 1s; thin. per
| live pigs. 3.o0as.00 each: live hogs.
per lb., 8.
| Green fruits-Apples. new, per bbl.,
| 1.00a6.00: per bushel basket. nearby.
/ b0a2. delicious, No. /, per bbl.. $50
as.oo: per box. 3.0oa3.5O. California
oranges. per, crate. 6.5oa7oo: Florida,
Grapefruit. s.5oa4.oo. Peaches. per
dews. 1.50a2.00.
|: 2:ooa2.5o; per sack. 2.ooa2.5o: No. 2.
| 50al.00: Sweet potatoes. North Caro-
lima. 1.ooa1.So: nearby; 1.5oa1:75; Let
tuce. per crate. 50a1.25. Romaine let
tuee. per crate. 5oa1 rs; 1ceburg let
northern. 1.75a2.00 per bbl.: nearby
cabbage, per bbl.. 1.25a1.50. Elephants,
per crate, 50a1.25. Tomatoes. per box.
nearby, 2.00a5.50. Beans. southern. 3.00a
4.5O per basket. Peas, 3.00a4. so per bas-
ket. Peppers. per crate. 1.00a2.o Kale,
per bbl., 50a1 co. Spinach, per bbL, 15a
1.25. Lima beans. per qt., 50a65. Gel
cry, per doz.. 50a1.0O.
Evening star., 1922-11-04
CLEARING HOUSE FUNDS.

NEW YORK, n. Y, November A.
The actual condition of the clearing
house banks and trust companies for
the week shows that they hold
S4.Os6,24O deficit in reserve. This is
a decrease of s55.262,26o from last
week.
Evening star., 1922-11-04
SERIOUS POWER SHORTAGE.

ciaD,-The SchuylkiIl river is lower
today than it has been in the last
fifty years. Tributaries are drying
up and q number of towns along the
SchuylkIIl are almost without water
This river furnished Phfladelphia's q
main water supplH.
Evening star., 1922-11-04
PARIS BoURsE HEAVY.

PARIS, November Prices were
heavy on the bourse today: Three per
cent rentes 5s francs 26 cendmes.
Exchange on London, Ga francs 81
centimea Five per cent loan. 76
francs SIS centimes. The dollar was
quoted at IA francs 571 centimes
Evening star., 1922-11-04
Provisions were a shade higher on
LONDON BAR SILVER.

LONDON, November 4.-Bar silver,
S3Z pence per ounce. Money TX per
cent. Discount rates. short bills, 2h
per cent; three months bills, ~ a2Z
Der cent
Evening star., 1922-11-04
NEW YORK SUGAR PRICES.

NEW YORK, N. Y, November A.
sugar futures closed dull. Approx
mate sales, 5000 tons. December.
3.S7; March. $50: May. 3.33: July. SAT.
Evening star., 1922-11-04
WALL STREET FEATURES

NEW YORK. November "copper"
shares were the leaders Of the mar
ket today. The fact that this group.
which had taken comparatively small
part in the summer advance, was So
quick to yield to the bear pressure
early in the week, discouraged and
frightened a great many small hold
ers. The clearing away of the out
side speculative following greatly
improved the market position, and
hence the coppers were better able
to respond than they have been for
months past. to the renewal of bull
operations. There were no develop
ments in the copper trade to account
for the rise, but it Is known that the
statistical condition Of the copper
metal market has been steadily i'm
proving.
American Wool Strong.
Reports from Boston say that the
American Woolen Company Is operat-
ing at about 80 per cent of capacity
against slightly over so per cent only
two weeks ago. The strength of the
wooden market will dispose of the
possibility Of the company having to
absorb any inventory losses at the
end of the year and puts an end to
any question that the dividends on
both common and preferred will be
earned with a comfortable margin
this year.
Evening star., 1922-11-04

NEW YORK, November 4.-Follow.
ing Is a list Of today's highest, lowest
and closing prices for the most aciive
bonds and stocks dealt in on the Ne"
YOrk Crrh Markaf
Evening star., 1922-11-04

WILL BUY COMMON
STOCK OF WASHINGTON
MORTGAGE AND INVEST
MENT CORP. AT $22 PER
SHARE; ANY AMOUNT.
CALL MR.. STEVENS, NUN
sEY BUILDING, FRANKLIN
.7I53.
Evening star., 1922-11-04
Money to Loan

Secured By arst deed Of trust on real estate.
Prevailing interest and comm!ssiou.
Joseph I. Weller 1zS p,sI w;:S; s,s !. L.. Tr1.'
Evening star., 1922-11-04
BONDS.
Bid and Asked Prices.

PUBLlC UIlLII1.
American Tel. and Telga 4s.... 90h 91
American Tel and Telga. rs. 101a -.
Am. TEL and Tel. ctl. tr. 5s.. 81 ~
Am. Tel and Tel conv. 6s.... III 1ls
Anacostia and Potomac 5s.... SO 91
Auacostia and Potomac guar. IS. 80 81
4. and p. Telephone 5s....... eS -.
4. aud +. Telephone of Va. 5s. 81 a 953
Capital Traction X. X. 5s.... e1A 10
city and Suburban 5s.... SSH S6h
Georgetown Gas LIST 5s........ SO 81
Metropolitan X. K. IS. 97h 80.
Potomac Electric LIST 5s.... 9S 1Ol
Potomac Electric cons 5s.... 95% .....
Potomac Electric deb. IS. -. 100 1OOH
Pot. Elec. Pow. g. m. & ref. Is. 1O6E 1U7A
Wash, Alex. Mt. Yer. 5s.. % -.
wash BALTIC. and An. 5s...... 19t SOY
Washington Gas 5s............ N 9312
Washington Gas 712s. 1O3 -.
Washington Rwy. and Elec. As. I3K 1875
Wash: hwy. and Elec. z. m. 6s. 9S13 100
MISCELLANEOUS.
u. C. Paper Mfg. Gs.......... so .....
riggs Realty IS Qong). 80
Riggs Realty IS tshort). 98
Security Storage & Safe Dep. IS. 95
w NJ Cold Storage 5s........ 98 .....
wardman Park Hotel 6s...... 1Ol 1O2
Evening star., 1922-11-04

TODAY's BOSTON STOCK MARKET.
BOSTON. November 4.-Following
is list Of today's highest, lowest
and closing prices for the most ac-
tive stocks dealt in here: