davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-12-03
: Along the Highways Of Finance

Following soon after the announce
ment Of plans Of the Bethlehem Steel
Cooperation 10 absorb the hidvale
Steel aud Ordnance Company and the
Cambria Steel Company, the news Of
the election Of william Wood, prssi.
dent Of ,he American Woolen Com
piny, and several Of his associates 70
the board OF directors Of the Consoli-
dated Textile Corporation 10 another
indication Of the tendency Of business
to amalEamats into large units. The
American Woolen Company Is The
largest factor In the weolsn goods
trade and Consolidated Textile the
larxss, In the cotton goods hsld. Thso-
retIeally both corporations remain In
dspendsn, Of each other, but the plae-
ing OF Mr. Wood at the leadership OF
both is likely TO give q certain amount
Of coordination to the activities Of
both. The tWo corporations are In
non-compe,l.ive liaeS, except in 80 far
az woolsn goods and cotton goods In
an ultimate sense compete with each
other, and the managers expect no
legal obstacles 70 having some Of the
directors OF one serve on the board Of
the other.
The psrmAnsnes % groupings Of in-
dustries into large units depends, In
our opinion, on the degree to which
they use their power for socially de-
slrGble purposes. From the stand
point Of the public. any rsarrange-
ment Of the factors Of production and
distribution which will tend 70 reduce
costs without exploiting labor or sac
rificing quality Of merchandise is COM
mendabls, and no corporation or msr-
ger should be condemned merely be-
cause Il ls big and influential
New-York tribune., 1922-12-03
u. S. Calls Conference
For Standard Radio
To BE Held In New York Nen
Month, Many Manufscsur'
era Interested

The work Of standardlzing manuiae'
tursd products, which has been ,s''
eessfuliy carried out In several inev'
tries. notably brick, harware, esa"'
etc, 10 about 20 be extended 10 tns
radio apparatus manufacturing field. =
conferences on radio stsndardi1as'o'
has been called BY the bureau OF ''ans'
ards Of the Department Of Commerce
for January IL IN New York CITY. 1ss
call for a conference has refulsed '''-
specific requests OF the Insii'ais =
Radio Engineers, the Nationsl h.s,s
Chamber of Cofnmerce, the radio
paratus section Of the Assoeiated N.S ~.
ufacturors OF Electrical Supphss, -
National Retail Dry Goods AssoeiAs..s.l
the American Radio Relay Lesgss -"
the Radio Cooperation Of Amenea .s,
These Organizations have pointse ~.
that there IL need for greater uniI.s-
Ity In the methods Of describing: rAnsns
and testing Of perfOrmanes o' TO"
apparatus. ... ali of
the HaFloNai ahaV|AaNA'Aa - -
neering and technical nature wn'ea -
known 70 be interested In radio ss. s.,.
ardization. The purpose Of the eon,.a, ~,
enee IL 20 eonsider broadly' nasT e.,
whether a formulation Of ttsndaros ~
radio apparatus and servies shsh y
made; second, II 20, what gene
classes os apparatus or service sbee.s
BE- included, and third. what proeeduIs
shaIl be recommended for carrying es'
the conclusions reached BY the come
enee. n The eonference decides W,
Ado standards should be formvla,eo
h Il expected that they Will be pr
pared With special consideration of .ns
vide range Of interests which are con.
esrnsd With the subject and that tn..s gig. =
standards may ultimately. be sdop.se
With the approvs' Of the American ~
rinesrinx standards committee -
American standard.
New-York tribune., 1922-12-03

CELp-MADE men deserve credit, and
~ they are ususlly aware Of the fact.
More than frequently they are fully
satisfied with their product. The lad
der-elinb.ng type Of president Ia often
less sSmps.hstie toward his own work
inRmen and humble outsiders than the
executive who owes his place 70 the
circumstances Of birth. Specifically, 9
man born With q sociological silver
spoon In his mouth, like John D. Rock
sfsllsr jr, 10 sometimes more inter-
ested and more kindly disposed toward
the aspirations Of the less fortunate
than captains Of industry who are up
from nowhere. The man who By his
own efforts attained the plnnaelss 10
often q sufficiently fsilaeious statistl-
elan 70 think that there are enough
prssidsnsiss Of banks and Of large
corporations avAilsble 10 reward every
energetic youth who is rune.ual, am
bisieus and psinstaklng.
The PennEylvanis Railroad. which,
incidentally, controls about one-tenth
Of the nations rail transportation IA
eilitieS, has succeeded IN building up
morale BY making almost fetish Of
selecting seniors officers from lower
grades Of employees. The fact that
higher cAeers are up from the ranks
IN accordance with q generally knoTn
policy Of shs company and not because
Of accident helps enormously 10 de-
veiop friendly feeling between man
Agtmeat and men, and II any AInsri-
can railroad has more loyal workers
thon the Pennsylvania we do not know
OF IL. After an interview the other
day with 4. J. County. viee-presIdent
in charge Of accounting, who began
many years ago AZ clerk In the see
retary's once, re vent down the sls-
New-York tribune., 1922-12-03
Canada Needs el0,000,00
For Conner Development

WASHINGTON, Dee. 2.--The BIRD
Lake district, In Manitoba, about eighty
miles northeast OF Winnipeg, II esu-
rsntsd by mining engineers to contain
millions Of tons Of high grade copper
ore, assayinR at 20 10 81 per cent COP
DER With a valuation ton placed At
isi.iS, says a report to the iron and
Conmsrce from Consul General Joseph
l. Britain. II is estimated that about
40 900 900 capital will be u"css9ary TO
Develop the territory. The Dsvlin Min:
ing and Development COMPANY, ot
Winnipeg, is preparing 20 commence
diamond drilling. At the Anderson
mines, ~hcre claims covering ABOUT
IoO acres have been located, the main
vein has been opened up for d.
tsnec Of 4e5 feet, with aS.foot tunnels;
The ore body consists Of bstresn !
and IS feet OF solid ehalcopyrlte, $40
per cent copper, With intrusions Of
bornite, Sc per cent copper.
New-York tribune., 1922-12-03
Diridend Record

Tho dividend record IL OF interest a.
an index Of a railroads earning power
over long series Of years. Under
this head we have gone back 10 the
date Of the initial payment and hare
followed through 20 the present time.
tn record, With its gllmpsss into
the past, often affords interesting rsVe-
lstions. Il shows that the New Haysp,
now struggling in adversely, vas ehes
a highly prosperous road. II shows
the same was true Of Sc. Paul. n
other cases, like st. Louis southwsit-
ern, whose preferred stock has beer
placed IN tho dividend class since the
publication Of the analysis Of the CON
pany, IL shows that the managemers
preferred TO build Up the property out
of earn ngs before giving consideration
TO the Initiation or resumption Of dlVi-
dond payments. And hnAhy, tie recon
shows that those companies that have
the longest dividend sistory IN poin.
Of continuity OF time up % the pyssen,
may be reckoned as among the strong
est In the present standing Of the
roads.
New-York tribune., 1922-12-03
German Leather Output
In 1921 Shows Increase
10000 Tons Produced Last
Year, Compared With 200
Toms Annually During War

WASHINGTON. Dee. 2.--Ihe pro.
dretion OF leather In Germany last
yssr v,as 10000 tons, compared With on
annual produe.ien Of $4,000 tons dur
Ing she war ard 10000 tons in 1919,
aaya Yles.consul z. r. sehesnseld, OF
p.rlln. IN A report 20 the Departmsnt
Of Commerce, in spite Of the fact that
IN 1921 tAe situation ~as relatively
worss thGa during the var. The ez'
panslon Of the automobile Industry
and the requirements Of betting and
clothing manufacturers we're responsi-
bic in par. for this inersassd activity
Prior 20 1914 the German tanneries
obtained tTgo-thirds Of their raw ma
teriala from abroad, az compared with
the pressnt time, when only ene-hAlf
OF t6s raw stock comes from foreign
sources. Il Is interesting to note That
untll the present the German leather
manufacturers have made no effort to
strengthen their posis!on By .hs forna-
,ioa OF earteln or syudicAteS. a meas.
gre which has been reeorted 20 By the
majority OF other German industries.
New-York tribune., 1922-12-03

vs,or In the Broad street station
building, in Philadelphia, with the sz-
ecutive. Az we stepped out he said,
Hello, Bill" 70 man At the door
"He's watehmsn," remarked Ar.
County, "Rnd I'm vee-president'
We've known each other for years and
are good friends. ThAt's the spirit Of
the Psnnsylvania." In theory such re-
latlonshIps should be universal in q
democratic country, bu. are they In
prHetiesi
The setback IN ths stock market since
the Ides of October remind ut that yeu
can be bullish and wrong With impunlty
and bssrish aad riEh. and yet be pill
loried. Corporations sometimes resent
comment which indicates that their
shares are worth less than inflated quo
tations. yet the complaints are few
when reporters wax oTsrsnthusiasiic
about prospects.
Some observers do their ,hlnking
about the stock market on the machine
which unwinds the ticker tape.
I. would be interesting 3, apply the
James-Lsng theory Of emotions 70 the
stock market. That Psychological anal
ysIs held that you do not cry because
you are sorry. but tina. you are sorry
because you err. Further, I: held that
you do not laugh because you are
happy. but that you are happy because
you laugh.
In terms Of Wall Street. the James.
Lange theory would be that the market
does not rise becauEe traders are bull
ish, but that traders are bulliEh be-
cause the market has riren.
aChefs tha aeeuYitC fnkirs IL a nav
New-York tribune., 1922-12-03

ny methods will be adopted In .he
near future. Reaction among the dry
goods jobbers, who talks consider
able portion Of the goods made BY
Consolidated, has been favorable 20
far. According % one veil known mid.
Western jobber the new combination
Ia not likely 20 affect ths distreutive
end OF the trade. There IL no danger
that Consolidated Textile vill dominate
the cotton goods Geld or WELD n power
suihelent 70 force new polIeies onto
the JSbbers," he said, "evsa such
an idea we're contemplated. While the
consolidatsd 10 large factor In the
business, there 10 sufielent eompeti-
tIon outslds 10 keep An obsolussly Tree
and open market"
In the cotton goods hsld Southern
mills for some time have been giving
the Northern mills greater eompsti-
tlon, largely because Of the lower rage
scales IN the South and tho longer
hours put in by the workmen. This
has led 20 Efforts at increased sfiei-
tney In the Northern mills. II 10 sx-
pected that most Of the efforts Of Mr..
Wood will be csntered on this anglia
Of the business, although the Con.
soildatad was organised hrst wlth all
Southern mills. The companys b. b..
and r. knight mills, however, are I'm,
portant New England properties, and
because Of the value Of their trade
marked products are considered among
the best ssss.s OF the company. These
mills, however. are eorHidsred By the
trade 40 needing more attention IN the
matter OF nsT machinery and produe-
tion reorEaniSation than other Con-
solidated properties.
New-York tribune., 1922-12-03
Sal, Lake & Utah Bonds

WARRINGTON, Dec. 2.--Autherity
was given the Salt Lake & Utah Rail-
road to-day 6y the Interstate Com
nsree Commission 70 issue 100000 In
De cent Arst mortgage bonds and
$500 900 In 7 per cent preferred stock.
Beth Issues Of the securities will be
deposited with the Treasury 80 col
lateral for loan Of 100000 made 70
the railroad by the government
New-York tribune., 1922-12-03
Diuision of Effort

The position Of Y. x. Rupprsoht In
che new llnt OF officers also received
corSldsrabls communication from the
Grade. Mr.. Ruppfseht, Il 10 argued,
being relieved Of the rssDonsibility Of
prediction by Mr. Wood, can now cen
Ter hIs efforts on the selling end. As
prssilen. Of con7erre 4 Co., selling
agents for the Consolidated, he 10 in =
position 20 devote his best Efforts 10
merchandising, a Aeld IN which he has
had thlrty-i-e gears Of experience.
In hcrt, the trade takes the 7ieT that
With Mr.. Woed IN charge Of produet!oh
and Xr. RuppTecht in charge OF mer-
chandising the new combination pre-
ssnts a formidable front.
So FAR as competition is concerned,
Il Ia not expected that any revolution
New-York tribune., 1922-12-03
Farmers Lose Heavily
By Poor Cotton Baling
Yet There Is No Mechanical Reason Why
High Compression Cannot Be Per-
formed at the Gin

and mutlisslon Of the cover" This
desirable change IN practice has been
indcraed, recommended and almost
berrsd for by every organization 81
eotton sp!nners IN tho world. The
planter wants 10 and has not been be-
hind his customer, the spinner, In Civ.
ing o1ieial Endorsement 70 the plan.
Under the gin compression system
the cotton 10 baisd ct the Rinnary in
exactly the form the spinner has BEEN
asking for over many years, and thie
is performed In one operation inetead
OF l. three, ae at present The bales
are severed with a light closely woven
fabric, saving ene.hali In weight Of
fabric cover and leaving praetielly no
exposed surface Of lint 70 collect dirt.
etc. The markings are carried better,
thus reducing less In transit 70 . mini.
mum. Freight rates are reduced and
the hi9h short haul rate between the
Gin and the compress abolished. The
Iniquisous "sampilnf" practice is done
away With. Gin eomPfession estAb-
fishes uniform tsre and rate Of ineur-
ance IN warehouse and transit and has
Likewise been the means Of making per.
Raissible the "nst weight" contract
which twas q privilege long desired
By beth grower and spinner,
IL 10 generally conceded that com
preston At the ginnsry would save ct
least 30 per cent Of the expense at
tsehed 70 ths prevailing eysten os re-
cor preston a. concentration points.
There are many other savings attached
10 the system sueh rs the wiping out
Of the "sampiing" system and the
blghting Of ihs "eity crop" the sum
Of which. II saved. would divert from
iileeitimsts channels TO the currents
Of decent eomemroe an amount which
has been varionsly estimated at from
one hundred 70 two hundred millions
Of dollare q season.
The one factor which has so far
been . hindrance 70 the general adop-
tion Of the system, and which 10 In.
he7ent In gin eompressss % far devel.
oped has been the sost Of the press.
When Il is remembered that the aver.
aRe Rross income Of the ginnerits Of
the United States 10 only about tS. 900
and that cut Of this sum the bagging
and Ties TO cover the bales has 70 be
bought by the ginner. It will be elenr
that q machine costing several thou-
sand dollars will be beyond the range
greater number Of existing gin owners.
Of profitable employment for ths
This obstacle may be ovsreoms b. Z
better distribution Of ginneriss
.hrouRhont the South. The eonGtrue.
tion Of bsttsr roads which Is nov IN.
der way will faeilititste such 4 re.
arrangement. But the vital necessity
OF the entire development will be the
production Of q machine 90 simple and
low IN price ~ to fall within the reach
Of most Of the ginning establishments
now In active existence. A press
which is said 10 be the nearest ep.
preach 70 thees essential requirements
IL being put forward as part Of
scheme Ter varshorsing cotton and In
suring the warehouse receipts. whether
II viii really be the pioneer device IN
this much to be desired improvement
am not In q position 70 say, having
seen nothing more than Photographic
Of the apparatus and q bale COM
pressed by II
New-York tribune., 1922-12-03
Wood Expected to Promote
Efficiency of Consot. Textile
Trade Expresses Satisfaction With Choice of Ameri
can Wooden Head Director General; Anal
gamation of Two Companies Seen as Illogical

ATIsFACToN generally followed surprise last week when public
announcement was in financial and mana
~ eerA capacity William M Wood. head Of the largest single
factor IN industry the cotton goods producing field
his the board Of the Consolidated Textile
Corporation which tho largest producer cotton fabrics
New-York tribune., 1922-12-03
By William whittAm

n HANIFESTLY, II is an eco
MI nomically unsound practie'
A'A to put up year after year
millions Of bales Of valuable mer'
ehandise IN packages wrapped In
their final covering. secured in the
accepted way. and then because they
we're not subjected to sufficient
pressure a. the first operation have
70 load, transport, unload and re-
press and reload twice In order %
reduce them to q size small enough
70 earn the lowest ocean freight
rate.
The invarisble practice In baiinE
American cotton was two compress
sions until the exigencies OF war
forced a third recOmpression on the
trade to moet the imperative demand
for cargo space created in gres.
measure by the dspredations OF
enemy submarines.
Unfortunsteiy. In that emergency
che sort Of temporarily expsdisnt eourSs
vas followed that has always afflicted
the handling Of this great product,
Ard, ss sxplainsd IN q previous article
this unsatisfactory sSpsdisnt Of high
density decomposition has become e
fxed custom. 10 would appear that 20
Jar, at least, eYeTy change vh'eh has
been made IN the package form OF
American cotton has been IN the d.
reetion Of making bad worse.
II is not because the waste and other
evils attendant upon the system In use
have not been recognized that no reai
Improvement IN method has been ap-
piled. II 10 because the chief obstacles
in the path Of reform are the enormous
costs that would be incurred IN intro:
duelne a south.vfds new system and
the equaiiy gigantic investment loss
that would necessarily follow the
serappinR Of the old. The shyneSs Of
che investibie dollar rstards The IN
PRODUCTION OF the new. while the
naturas and fierce resistance 20 the
destruction Of eapl4al retains the oldsr
methods. Again, The cotton growerr.
who - q class are almost always hover
ing about the poverty line, are the
ones who wSul6 be the gamers BY bet
tss methods, but they are Of little use
as providers Of capital 70 install the
desired improvements. The weli-.o-do
planters are mostly apAthetlc. Some
few have, II Is true, boldly ventured 70
ute the better methods, With sstisfac-
ton and profit. Bat 80 little proRrSss
in this dlrsctjen has been mAds that
new types Of bsiss, which were Arst
introduced we'll on TO a quarter Of q
century ago, are 70 seldom seen ss
~onaur,in0 eoeufriee
New-York tribune., 1922-12-03
Revenues

Following property value Genes sAs
table giving the growth Of revenues
during the decade. All Of the roads
show good increases In gross, cone
greater than others, and those roads
making tho poorest shoViag are, esny
orally speaking. the ones hsrtsft u.
BY the coal strike.
In making comparison Of grovtA
however, II ls advisable also % gigs
confederation 20 mileage, for IN cerialr
instances notably Ponpsylyanis and
New York Central z increase H.
operated mileage has had much 70 DO
With the big Increase shown In Eross
reyenues
New-York tribune., 1922-12-03
Possible SGuing


when Arsriesn cotton vas selling
At near forty cents a pound IN was
shown In q detailed ets.ement pre-
pared BY the American Cotton Asso-
citation that the differsnee between gin
compression and The usual proeedure.
in the so-caiied fixed charges deducted
from splnnere' prices BY exporters ~
making price 10 the farmers was sueh
that this net difference applied 20 a
crop Of 100000 bales would moan
a net saving 70 the grover Of ti42,2oo.- :
600, enough 70 pay the Initial cost OF
equlpping svery Arst class ginnery tn
the South with high density gin com
press machinery and building all sddi-
tional warehouses needed to safely
house the crop. Truly prines'e ran.
soua, although II DOES aot include the
butcher or sampler.
This survey Of the bAlina situation
may be left With the remark that there
10 an exceedingly simple method yh
which ail high density second recon
preston could be oSviatsd and the
bales, &c they leave the fret com
press, kept at the necessary high
density. It consists In the use Of
l&htncTb loI Wv tleb Va hnp bbNo wv
such a. are used on Egyptian bales
These will not yield. They are not
used simply bsceue they take up toe
much time In fastening thus reducing
the output Of the press. The eonte'
ouence 10 that the bale which is SUB
jeesed 20 n pressure which produces
density Of ffty.nye pounds to the
eubie foot Is reduced By the slippins
Of the ties or bands through the pres'
ent style Of fassner used on The Amer
lean bale TO q density Of about twenty
two pounds per cubic foot. neeessitst.
I ing under the transportation rules Q
transfer 20 another plant 70 have the
density restored 20 about thiTty-foui
pounds TO the eubie foot.
The spinnsrs, who buy and use tAt
bales know quite we'll what they would
like 20 havs---s bale Of standard size
and shape to suit the American frsighi
ear, tAs weight 70 be around and
average 500 pounds net, the lightosi
| possible but completely covered tare
compressed to thirty-four pounds pei
cubic foot and secured 70 retain that
density, and, generally, that American
cotton be az carefully packed anc
covered when delivered TO the user q.
are the Indian and Egyptian bales.
New-York tribune., 1922-12-03
Railroads Earning Power
The Determining Factors
Editor Presents Summary and Interpre.
tation of Studies Recently Con-
cluded in Tribune

Our use Of these figures Ia these sis
cussions has been 20 apply them 70 ths
capitalization Of the various railroad
In order % determine what equities az,
possessed By their common stocis
This has developed some very intere,t
Ing Companions. We find In near,y
every lnstanes that the common stock,
Of strong companies show iarRs
equitles In these estimated Valuation.
while the equities Of the weaker rosI,
are small Take Atchlson, With AZ
equity Of ti77; Louisville 4 Nashville
With an equity Of $3.50, and Pennsyi
ysnia, with an equity Of 1872 for eaei
$50 share. Then turn % 81. Paul, ults
an equity Of t6s; New Haven, With A.
equity Of 357, and Ssaboard Air La
With no equity vhatsver for the cor.
mon stock and only $50 a share r.
the preferred.
There are soms apparent exesptlo-,
% this general rule, but when the sus.
feet is closely scanned there Il usu,i
~ a valid reason for the apparent a.
ercpaney. Take Union Pacific asan1
ample. Here Is road among n.
strongest and whose seeurities 40.
rated with the best, and yet the soqI,y
for the common stock n estima,.i
property value Is only $50 a shay,. H..
Union Pacific, In addition % bslnS
railroad. Is an investment company. srS
lts holdings In the seeurltles Of "a,
ahiilated companies may essllv \.
worth SIS a share Of common s,oel
This would make the true eautv -
Union Pacific common AZ least fi.o,
share. These outside sssets do -,
form par Of the railroads prop,y,v
value because they are No. sssd n ts.
service Of transportation. But oftss.
as in the case OF Union Pacla,, DO shsy
furnish . large part Of the income "a,
IL made available for the paymsnt sf
interest and dividends.
New-York tribune., 1922-12-03

"cAAl. the security fAtir" is a new
The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1922-04-13
AWARD MEDALS TO
YOUTHFUL ORATORS
w. C. T. c. to Conduct Defamation
Contest in Schools-Eight
Glasses Prepare


Nine classes in the public schools
under the direction of Mrs. C. C.
Carman are preparing to take part
in series of w. C. T. u. defamation
contests to be given in the High school
auditorium the evenings Of April Is
and 26 and May and 8. The winner
in each class will be awarded a suit
ably engraved medal. The medals will
be displayed in the window of Gil
more's jewelry store. A short musical
program will be given at each con-
test under the direction of Miss Mary
Harvey.
The declarations are intended not
only to give the young people training
along evolutionary lines, but to inn
press upon them and their audiences
facts about the moral, physical and
financial effects of intemperance.
Advance season tickets are now on
sale at so cents for adults and 25
cents for school children. The single
admission charge will be 20 and 10
cents.
The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1922-04-13
NEW STOCK
look this oUer

Just received fresh supply 81
Hills red can coffee in one and +,,
pound cans.
Del Monte extra Sugar Peas hav.
been hard to get for some time but
this week finds us with small shin
ment. Del Monte brand canned
goods are always right and Del Mont
is the line carried by our local whole.
sale house.
Money spent for Del Monte Canned
Goods not only insures you the hest
for your table, but it passes thru our
hands to the Kennewick WHOLESALE
Grocery, from there to the bank
helping to pay a good many Kenne.
wick salaries, plant spuds, etc.