davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-09-17

financial sacrifice. In Troy, N. Y, a
secondhand automobile exchange was
opened out Of funds furnished by the
dealers. 1t was to be central mar
ket place, whera the forces Of supply
and demand were to clash and deter
mine prices. The experiment failed
because too many cars accumulated
and the holding OF them became eX-
pensive. The idea was good, but the
market. being limited more or less to
Troy, was too restricted. national
market, such as the New York Stock
Exchange, would give a better indica-
ton of the present worth of used
machine. In order to prevent the
damning up of cars, prices ought to
have been depressed to level where
they would prove attractive to new
strata Of buyers. And professional
spectators in cars would be necessary
to keep demand constant when actual
buying ebhed. That is the theory Of o
free and open msrketplace.
Of course, the practical obstacle is
that there is no Standardization to
used cars, which come to the market in
an infinite variety of disrepair. AL
fred Reeves, Of the National Automo-
bile Chamber of Commerce, tells a
story about man entering an auto
mobile salesroom, who said, II would
like to see good used car" To which
the dealer replied, $50 would l."
One solution of the usod car prob
lem, which ties up the assets Of deal
crs. would be to scrap discarded ma
chimes. A less ~as.eful o..s would be
TO educate dealers regarding values.
The industry seems on the verge of
doing this. So this might be good
time to unload used cars before the
light Is spread.
New-York tribune., 1922-09-17
Italy Bids for Foreign Capital
I've" Measure Would Exempt From Taxes Securities
Issued Abroad; Trieste Developing
American Trade


Spsc'o' Foreign Financial Correspondence
NVMt, Sept. 1.-THE bad impression
produced b. the budget speech made by
minister for Finance Peano. reported
III these columns, and the troubles
"hich have taken place between Fas~
e'stl and Socialists were responsible
iOf the fall of the Facta Cabinet some
weeks ago. Pcano, who spent $4,000 900
ARE on the Genoa conference, was not
aO!e to place before Parliament a real
P.ogfam of economy. However. the ~ in
.sser realized taat one OF the means to
ease the present economic crisis was to
..SgiHtate investments of foreign CAPT
ai, especially in connection with hy-
Isfe,eiectric works, railways, ports and
'and reclamation.
81, 10 this effect bill has been pre-
ssh.ed to Parliament, which will, no
soupt. be approved by the new govern
msns' whereby all foreign capital in
sestad in Italy In any of the above
aentioned industries will enjoy ex-
isnpllon from income tax. This plan,
so8eYer, is TO operate only if the com
gsay is formed according to Italian
avs as fiscal control can only be ex-
.'ssed on the budgets of national COM
ita1ies. T. nee Exemption from income taxes
limited united TO the interests on the obi
s. sauohs issued abroad by Italian com
gSn'es f.. !, and subscribed in foreign money.
Im I;sa tne time being the bill in project
sn, lne privilege to obligations is
I've sged to December 81. 1925. The cleo
ohS. ei,l industry so far hes been the chief
eesee.lve ess Of foreign capital and Ameri-
fuI k,,.- l.
-evtion. - ''''' e0i'
lapital needed to develop the cleo
b b,eaa oea IN industry is, therefore, more than
bbysDv..ooo'ooo lire. and the necessity of
Eiu,'s.lshing 81, foreign capital is evident;
IT, the more as pubic opinion does not
l55eiy approve Of the state having
ISs ISaa N public service of industrial
Eiseter; The government was re-
ES;ss.y onliged to promise a return TO
gmasse g.'.s enterprises of the telephone
LSSe ena OF steamship lines in the
IDaring the years following the war
New-York tribune., 1922-09-17


'raoe associations that are powerful
enough to WELD an influence in the
particular trades they represent IT
mas been discovered that honesty /,
not only the best policy, but thar IL
pays and pays we'll.
ihere are still many loose ends in
the development, however. that remain
to be gathered up. This catherine vn
process Is gaining momentum and
within the next few years, some trade
leaders predict. the business man who
practices questionable ethics will far
not because he will be Stunned by his
fellow business men, or hailed into
court but because he will find he i.
pursuing an uneconomic course Of bue;-
ness
New-York tribune., 1922-09-17

rENHE moral responsibility of broker
A to his customer is moot question.
A typical exchange of remarks be-
tween two individuals the other day
suggests the cleavage OF opinion
After seven months travelling sales
man who had lost $4,000 in brokerage
failure received call from the secur-
ity vender who had led him into his un-
happy financial adventure.
"You certainly have your nerve in
asking me to buy new stock from you,
said the customer. "You not only per-
suaded me to place my savings into
highly questionable securities, but you
also failed to tip me of that your firm
was about to fail. Surely, you knew
how the wind was blowing And this is
the first time have heard from you"
The sins of the past cannot be
lodged.
They will return to plague the guilty.
A customer should shun broker who
has misrepresented his wares. A
broker who has lie6-who has know
ingly misbranded securities-ought to
receive no further patronage from ms
victims. On the other hand, security
buyers ought not to blame brokers for
their own incapacity to speculate sue
cessfully Where customer asks for
q safe investment and the broker wit
tingly recommends highly speculative
stock, the agent is open to criticism.
On the other hand, when the customer
asks for a good tip on the market, for
stock which ought to sell much
higher, he is consciously stepping into
the whirlpool where risks are high and
the chances Of profit and loss enor-
NOUS. The broker then only expresses
his opinion, and, IL he articulates car
New-York tribune., 1922-09-17

experts Of the Department Of Aericul-
ture, who also lay down the principle
that rs the yield of lint cotton IN
creases the net cost per acre increases.
while the net cost per pound decreases,
and whore comparisons can be made
It would appear that he farms produc-
ing the larger acreages have the lowest
unit costs.
An examination of the records of sz2
farms showed that of twenty-eight
farms producing 100 pounds and under
per acre, twenty-four of twenty acres
and under averaged a cost of 81 cents
per pound, while on one farm Of sixty
20 eighty acres the cost was but 2S
cents.
Yield Variation
An examination Of the record of 226
farms which produced 150 to 200 Lounds
per acre, within which range the Amer
lean yield of 16i pounds Of that season
falls, shows that on ninety-fve farms
OF less than twenty acres the net cost
p6r pound was 32A cents, while on
seventeen farms OF over 100 acres the
cost was 20 LILO cents. Then taking
the group Of 1923 farms on which over
300 pounds to the acre were picked,
the highest cost was 22M cents per
pound on fifty-three farms of twenty
acres and under, and again within a
small fraction Of a cent of 20I5 cents
on ton farms of over 100 acres, or prac-
tically the same as on the seventeen
farms of over 100 acres, but producing
only 150 TO 200 pounds to the acre.
Leaving out of consideration the
farms in Ellis and Rusk counties, Tex,
and Laurens County, Ca, which, due
to extremely unfSIorable weather,
made a bad showing, the five farms
with the highest yields produced 400
pounds per acre, while the lowest five
had a yield of only 70 pounds. How,
then. can an equitable price for all be
arrived at? 1t is plainly impossible.
In the propaganda to increase the
returns to the cotton grower, which
are admitted on all hands to he gen
orally little above the poverty line, not
much is heard about increasing the
yield per acre, and less of the equally
important matter of increasing the
yield per man. And as there is no
better informed nor conservative au-
thority in the United States on the
practical aspects Of cotton culture than
"The Progressive Farmer" ! quote its
opinion, which reads: There are two
ways, by either of which. or rather
by com mbination of which, the South
ern farm worker may produce more. OF
course, he can earn more by producing
more per acre. But he must produce
more per man to compete with other
sections Of the world"
Then on the shibboleth of "monopo-
lv'A the same expert continues: "Tt is
the nonsense Of a stand -patter' to
say that we have a monopoly of cotton
production or that Of any other crop.
We have only been able to maintain
limited and incomplete monopoly on
cotton production because we produce
it so cheaply. We must produce more
per worker"
The Importance of this advice may
be understood from the fact that on
the fifty farms III a county represent
ing as near as may be the average for
the cotton belt, the worker and his
INDISPENSABLE mule were responsible
for 1913 per cent of the total operating
cost, with land rent left out of the
calculation
New-York tribune., 1922-09-17

The railroad industry, on the other
hand, is necessarily relatively con-
servative; it freezes its plans of a
generation ago into lasting system;
it is slow to change the character of it's
equipment and its terminal facilities,
which are harnessed to the past by
bond issues
New-York tribune., 1922-09-17
Movements TO Protect
Consumer Show Results
Business Houses Placing More Empha.
SIS Than Ever ON Honesty in
Statements and Advertisina

A oNhoih IN business 10 not ioea ,,s -
dressed up in attire, out recently s mas oe"
- w '"ousaha or more eureals for business denression
Nhnm inc aSt year thefe been
right dealing on absolute truthuness statements and OH
INC whole truth and nothing but the between r - ="
individually some or he larest
stressed honesty and fair dealing their advertising and oh
work Collectively there is movement in many +raa
wipe out questionable ~ so'ia"
New-York tribune., 1922-09-17
Pickingg--tIae Bottle Neck
OF u. S. Cotton Growing
Cost Approaches Total Value OF Finer
Ten Years Ago; Acreage Linn
tied by Labor Supply
By William Whittnm

ME problem Of cotton production the
American cotton belt is complicated to
TO realize the ideal Of "cot profit
out an IDLE dream Yield acre often
even deterg factor in the total Of
the ether hand cotton being requiring culture
devoted to it on given farm limited available
to do the choppng picking
ing plans must take these two consideration
New-York tribune., 1922-09-17

to facilitate transportation over steam
railway lines by taking over short
hauls and by relieving congestion at
New-York tribune., 1922-09-17

didiy, he is not to be exercised because
of a lack of infalliblity. And yet>oc-
casionally he would serve truth we'll by
admitting that he is no fortune teller.
New-York tribune., 1922-09-17
sSkinipy'' Corn. ents

sMisbranding, however, is but one
srm of fooling the public. During the
arIod of depression, when low prices
gre uppermost in the minds of con-
amers, many and devious methods
gre invented by manufacturers to
ning down prices, often at the expense
quality. One of the favorite meth
ds was the "skimping" in materials.
here arose recently q great hue and
~ among retailers against "skimpy"
arments. One trade association, the
shletic underwear group of the Inter
sstional Association of Garment Manu-
fcturers, is attempting to correct this
fal by issuing licenses and labels,
Aich guarantee that the garments
paring these labels are cut to stand
sti size. A standard scale of sizes has
bsn drawn up by the association and
nnst be rigidly followed by the users
Il the labels.
The National Association of Knitted
Wterwear, as reaction against
&impy' sizes in sweaters and other
kitted apparel, is attacking the prob
len, and special committee will pre-
ssit at the association convention next
month in Chicago a scale of standard
sizes, together with a plan to indicate
Onthe garments of every manufacturer
whether or not standard sizes are fol-
loved.
The manufacturer who maintains full
Standard sizes feels that he is suffer
ing from unfair competition when
hlS competitor cuts a greater
The combined effect of all these
movements is bearing some fruit.
Vigilance committees in many sections
OF the country have policed the mer-
. chandise field SO well that trade leaders
now assert that the general public is
tnsn ever before in the history Of
business.
Codes of business ethics are be-
coming highly popular in many trades
and are being generally adopted by
New-York tribune., 1922-09-17
Care in Handling

Then. as the price the producer will
receive for hs crop is determined BY
the grade and staple, and as grade -
affected by the amount Of leaf, dirt
and other extrsneous matter color Of
fibre and the manner in which the
Gotten is handled in the fields, If care
Is not taken TO see that the cotton is
carefully picked and kept as free as
possible from trash and dirt. the dc
ductions from selling price for this
carelessness, in effect. add Just 30
much to the cost Of picking. A like
financial penalty is imposed by the
buyer when cotton is gathered off the
ground and when mildewed or half
rotten bolls are mixed with good fiber.
II is better to bale such inferior
grades separately than to spoil the
entire crop by mixing little bad with
the good
The cross section record Of s4g
farms showed that the man hours per
acre expended on picking cotton
varied from 232 in Ellis County.
Texas. to 81 hours in Laurens County.
Georgia, the average for all farms
being 42h hours The normal quan-
tity of seed cotton picked per day
would not be far from $50 pounds for
most districts. This would mean ap-
proximately so pounds of lint cotton
per day per worker.
A calculation based on the some
what generous allowance OF 100 pick
ing days Of ten hours each as an aver
age for the entire cotton belt. and
taking the average area planted in
cotton during the last ten years, which
was about 34,500, 900 acres, would show
that it required, on the average record
of the S42 farms, 1,470,000 men or the
equivalent in women and children to
harvest the annual cotton crop The
rumber would. in fact, be much greater,
because the yield on these farms was
well above the average for the belt.
No matter how the boil weevil and
ether insect pests may be controlled
oS even exterminated, it is TO be borne
in mind that an increase in cotton pro-
duction TO keep pace with the growing
needs OF the world for the fiber in
wolves corresponding increase in the
supply of casual labor for the picking
season. And ns the South has never
attracted any considerable or even
countable proportion Of the immigra-
tion coming into tho country one is
at loss to Giscove. where this labor
may be drawn from. Indeed, the bot
tie neck of the situation would seem
to be this necessary supply Of casual
labor
New-York tribune., 1922-09-17

-
Mdn.faoturers' Association, at BuGaIo,
or September 49,
TSHE founders of the nation,
who were less utilitarian than
some folks are to-day, spoke
OF "life, liberty and the pursuit OF
happiness" as national objectives.
These were bases Of the original
American credc.
The automotive industry contrib
utes to all three. It's utility features
in making life possible in the eco
nomic sense have been sufficiently
stressed.
The function Of the automobile in
terms Of human freedom, I have never
seen sufficiently emphasized, and vet,
it is one of the great selling points,
or rather one of the primary sources
of origin Of the buying impulse, in my
opinion.
The subway carries you each day
ever route which you had no part in
planning. Each day you follow line
more or less arbitrarily selected by
engineers a dozen years ago. The
same for the steam railway and the
trolley. They are social tools. The
automobile, on the other hand, is more
sensitive to the changing whims of
the individual. With it, he can pick
out new avenues to work or to play.
With it, he can vary the speed Of move
nent to suit his own ends. With it,
he can translate his own will into ac-
tion instantly, instead of blandly sub
mitting.
The relation of the automobile to the
pursuit of happiness is moro obvious,
even If it has been submerged in sell
ing plans since the armistice. In my
opinion, the recrcational features of
the automobile should and will be
stressed more in future selling cam
paigns.
Recreation Feature
In urging that the industry no
longer be ashamed that there is tre-
mendous amount of fun in having auto
mobiles, for those who can afford them
without sacrificing still more important
requirements, am not oblivious to the
great and increasing utility features of
passenger cars and motor trucks. am
aware that when railway strike is
threatened now and then. even COM
plete tie-up cataclysmic as it would be
in evil results, it would not make the
national economic organism stop
functioning completely, for motor truck
caravans, already in daily use, would
facilitate 8 limited few Of essential
commodities.
Railroad executives are not unmind-
full Of the expanding possibilities for
competition from motor trucks and are
seriously considering the means of
meeting the new situation. For ex-
ample, in the annual report for 1921 of
the Southern Pacific Railway, ! find
this reference: Cooperating revenues
were seriously affected by the nation
wide business depression that began
about the close Of 1920 and continued
throughout tho year 1921, aggravated
on your company's lines by diversion
Of transc ontinental business, by much
lower rates offered by the Panama
Canal route, and by the competition on
the highways OF motor trucks sub
stantially free frem taxation and regu-
lation.'
I think it would be futile for rail-
way executives to seek to combat the
motor truck. 1t is an instrument for
usefulness whose worth is being in
creasingly recognized. 1t can be made
New-York tribune., 1922-09-17

on account Of the Nigh wuges of farm
labor In Arizona and California in
1920 1T costs four cents pound fer
picking Egyptian, (some growers sag
three because tho bolls are small.
while upland cotton was picked for two
cents pound. In some upland varle
ties pound Of seed cotton may be
picked from fifty or sixty bolls. white
more than ono hundred bolls must be
gathered for each pound Of Egyptian.
Apart from boil characters it is
easier 50 pick cotton from plants OF
upright habit and without veEetative
branches TO interfere with the move
ments of the pickers. II is one of the
advantages of American Egyptian cot
ton that the stalks are stronger and
more upright. while the upland varie-
ties often bend over and become nearly
PROSTATE when the plants grow large
and fruit heavily. Picking is more
difficult IN such fields, and many Of the
bolls rot or mildew. especially in wet
weather.
New-York tribune., 1922-09-17

OVNU HaSAo VA R0tt AEaEQH SUCH q
condition might well be considered an
ideal one. On the other hand there
are some obstacles that. will have to
be overcome before such a condition
can be reached.
The general public, it is argued.
needs q vast amount of education be-
fore labels stating the true contents
Of merchandise will have real
meaning.
THE general public certainly has a
right to know what it is buying" said
prominent underwear manufacturer.
but the trouble is that the average
man is not sufficiently informed along
technical lines TO form an adequate
Judgment on the quality of merchan-
ldise even though it's contents are
clearly and correctly labeled. Take
fny own line of merchandise, for in
Stance. Some of the underwear we
hake contains 80 per cent cotton. and
laboratory tests will prove that it has
trester wearing quality, more strength,
bore elasticity and as much warmth
+ 100 per cent woolen product. If
pc buyer of underwear believes that
El-wool and nothing but wool will rem
Fr the best service, the labelling Of
his 80 per cent cotton garment will
Rwer its desirability in his mind. 1t
the multiplication of such points
a these that mako tho corraot I,hoI
sg Of merchandise not only difficult
At inexDedient in the present state
I affairs
New-York tribune., 1922-09-17
Tribune's Financial Edition
nj Convention Stresses
Automobiles Function in
Terms of HumanEreedom
-------~
The Recreational Feature
Thinks IL Would Be Futile
for Railroads to Combat
Growing Utility of Trucks

By Merrylc Stanley Rukeyaer
fEscsrpts frsm an address delivered
bg the findncidl and Business Edito,'
Of the Ne1e York Tribune before the
conventSoa Of the Motor and Accessors
Mdnmfaoturers' Association, at Bu6aIo,
or September 49,
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-12-20
Cdnt1ta to Be GiUen
At Npm Madison Dec. "a

NEW MADISON, Ohio, Dec. 20. =
Christmas exercises consisting of
readings and songs by the children,
and cantata, ITO Bethlehem" by the
choir, will feature the annual observ-
ance of Christmas by the members
of the Universalist Sunday school
here Sunday evening. Dec. "a, at 1880
o'clock. The following numbers will
be given in the cantata:
Overture.
Break Forth into Joy-Chorus.
And Thou Bethlehem, bass recita-
tive, Warren Duffield
Bethlehem of Noblest Cities, bass
solo, soprano and alto duet, tenor So
10. alto solo and full chorus, Warren
Duffield, Zelma Brown. Lille Ray, D.
T. Hill and Irene Snyder.
Calm was the Hallowed Night, so.
prano and alto duet, Dorothy Smoker
and Gertrude Thomas.
Let Us Hasten to Bethlehem, tenor
recitative and male chorus, D. T. Hill.
And They Came. alto recitative, so
prano solo and chorus, Irene Snyder,
Zelma Brown.
The Morn is Breaking, full chorus.
Behold There Came Wise Men, ten
or. recitative, w. H. Brown.
Three Kings of Orient, male trio
D. T. Hill, w. H. Brown and Warren
Duffield
Fairest Lord Jesus, alto solo, Ger
trude Thomas.
o Come Let Us Worship, soprano
solo, Lucille Hageman and chorus.
Mrs Warren Duffield-Pianist.
Mrs. Clifton Smelker-Director.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-12-20
REFLECT HITCHCOCK
LEGION COMMANDER
IN RANDOLPH COUNTY

WINCHESTER, Ind, Dec. 20.-Rob-
inson Hitchcock was reelected COM
mander of the Randolph Post, No. 30,
of the American Legion; Timothy
Baldwin, vice commander; Donald
Brown, adjutant; John Cheney, treas
urer, and Pierre F. Goodrich, James
Brady and Franklin Fouse, members OF
the executive committee, at the last
meeting of the post.
The post defeated a resolution de-
nouneing the Ku lux Khan, in one OF
the most lively meetings ever held.
Pierre F. Goodrich presented the reso-
luton, in which the Khan was called
"un-American."
George A. Wilson, living south of
this city, is recovering from injuries
received when. he was thrown from a
buggy struck by Big Four switching
engine, Monday. Mr.. Wilson was in
iured about the shoulders and arms.
His buggy was demolished.
Suit for damage has been filed by
James w. Stewart and Eliza Stewart,
exparte.
Complaint on note, foreclosure OF
mortgage and appointment of receiver,
with demand for 81, 900, have been
! filed by the Indiana National Life In
surance company against Lodge No.
| SGT, Loyal Order of Moose, of Randolph
county; Reliance Life Insurance com.
pany of Pittsburgh, Pa, William Trio
kett Giles, James ]. Davis, Donald H.
McGelloray, as trustees for the Liberal
Life Insurance company of Indiana.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-12-20
COUNTY AGENT TURNER
DESCRIBES CONVENTION

EATON, Ohio, Dec. 20.-The due col
lection of the national American Farm
Bureau federation was larger in 1922
than in any previous year, indicating
an increase in membership, reports E.
d. Turner, Preble county agricultural
agent, who has just returned from the
Chicago convention, to which he was
sent as a county delegate.
Over 600 delegates from every state
in the Union were present SO from
Ohio, alone. Georges Clemenceau, of
France, was given an enthusiastic ova-
ton several minutes long, when he
spoke on THE Farmer as World
Citizen"
James Howard, former president of
the farm federation, H C. Mckenzie,
taxation expert, and Ex-Governor Frank
Lowden were the principal speakers
The Wednesday evening session was
conducted exclusively by women, and
discussed women's part in the organ.
/ ization.