davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-07-18
Is u S sine S 1. N e w .
American WOODEN Co.'s Spring
Prices Lower Than ExDected
Cloth Quotations Advanced
About 3 Per Gent, AL
though Raw Wool Cost
Has Increased 100 p. G..

Prices placed on mems wear woolens
and worsted goods for spring, 1929, by
the American Woolen Company at it's
opening yesterday came as a surprise
to the trade, in that the prices named,
generally, were under the levels that
the trade had expected. Compared
with spring, 1929, yesterdays prices
showed an average advance of not more
than per cent and were under the
levels to which fall 1922 fabrics had
been advanced in three successive
stages from the time they were opened
early this year until June.
Other mill agents are expected to
announce their prices now that the
American, the recognized market
leader, has set the pace. Some prices
have been tentatively set by other
agencies, showing larger advances over
last year than those made by the
American. 1t is expected that the en-
tire market will drift to the Ameri-
cans price level within a short time.
On the basis Of yesterdays prices,
mems clothing Cor next spring should
show little if any advance over prices
quoted this year At the outside the
advance on the cost of cloth in high
grade suit should not exceed 81.
score higher advance than actually
took place was founded on the fact
that medium and higher grade wool
prices are now about 100 per cent
above those prevailing year ago,
when spring, 1922, cloth prices were
made
The average prices of representa-
tive number of serges and unfinished
worsteds, all staple goods, yesterday
showed an advance of 3 per cent over
the prices named for spring, 1922, fab
RIGS year ago. Tropical worsteds,
which have forged to the front in re,
cent years and are considered to hold
great possibilities for next spring,
were advanced about 2 per cent over
q year ago.
The we'll known Fulton serge, No,
1892, used as a standard in the trade,
yesterday was priced at $3.50 yard.
For spring, 1922, it was priced at S242.
At the opening OF the fall season early
this year the price was S2.3b and was
advanced in three stages to $267 u.
Trade comment before the opening was
to the effect that this cloth would be
opened at $2.75 yard.
Other comparisons for standard fab
RIGS follow:
Cloth sp,, '2s Open Close sp., '2a
$50, ss44 's.s ss.s7M sa.s2M sa.77M ss,s2h
1907. unfnd
ss1s-i .2.1o 200 2.42M 2.a7'A
o7oo-1 -, 2o7A 1929 2.22h 2.o7h
Tropica1 worsteds showed smaller
advance over the prices named for
New-York tribune., 1922-07-18
Contest to Stimulate
August Sales Efforts
$500 Prize for Best Stories. of
Difficult Sale Made Dur
inc Next Month

Stimulation of the sales efforts of
statesmen through the normally dull
month of August will be undertaken
by committee Of sales managers that
has just announced preliminary plans
for a contest with this, end in view
Bartlett Arkell president of the Beech
Nut Packing Company, is chairman of
the committee, which includes Thomas
c. Sheehan, president, Durham Duplex
Razor Company; Norval A. Hawkins,
general sales manager, General Motors
Company; A. c. Fuller, president,
Fuller Brush Company; 0, w. Bart
lett, sales manager, American Sicing
Machine Company; Philip C. Stab,
Francis H. Leggett G. Co.: H. K.
McCann, president, H. K. McCann Com
pany; A. MacLachlan, sales manager,
Square D Company, of Detroit; E. A.
ing Company; F. D. Van Amburgh,
editor, "The Silent Partner" and
others.
According to the announcement, $500
is being offered in prizes for the best
stories of difficult sale effected dur
ing the period of August to Sep
tember l by any salesman in any line
OF business. The stories will be judged
by committee composed of some of
the best known sales managers in
America.
The periodicals issued bv business
houses throughout the country and the
sales managers of the concerns issuing
these magazines are carving the
movement to the thousands of sales
men. 1t is anticipated by the com
mlttee that stimulated sales effort
Will result in many lines.
New-York tribune., 1922-07-18

manner, it represents a demand OF
France that must be met.
Second, Frances financial and eco
nomlc recovery depends upon her abil-
ity to collect reparations from Ger
many. Italy is setting her house in
order, taxing her people and generally
proceeding with reorganization more
successfully than any other Cont
mental nation. She is doing this with
out regard to reparations. Frances
problem is different. She cannot thus
forget reparations.
81 talked to most Of the leaders OF
political thought in England, France
and Italy, and although the aims of
these nations, united in war, are now far
apart, there seemed to be general rec
ognition of these essentials and a
strong purpose to compose a settle
ment. France may be expected to in
sist upon her rights under the Yer
sailles Treaty until the other nations
ask her how, otherwise, her problem
may be solved"
People More Hopeful
Mr.. Dillon reported that in all the
countries he visited the people were
more hopeful and the will to work was
in evidence. In England, he noted, as
QueS-
tion is still acute.
as here" he said. "It is not until you
look at the depreciating currenc cies, the
unbalanced budget and government
finances generally that you realize the
gloomy side of the picture"
Mr.. Dillon, who reached Genoa be-
fore that conference had concluded its
sessions, was not particularly optimis
tic of results from the conference
method of approaching Europe's
problems.
mo congress of bankers and econ
omists can sit down and work out a
formula for curing the ills of Europe
he said, "but individual bankers, work
ing independently, can accomplish {
great deal toward bringing about nor.
NAL conditions abroad For example
an American company has taken an
interest with an italian group in de.
veloping the port of Palermo, one OF
the largest contracts ever let bv the
Italian government. The project is be-
ing carried out with American capital
and Italian labor.
Many contracts of this characte,
have either been put into effect or are
pending in Italy at present, American
capital might similarly find employ
IA4cHI III oIuci EuIopedH countries.
A brief allusion to Russia was char
acterized by Mr.. Dillon as the "best
news that have brought home with
me-"
Everywhere I went people out of
Russia told me of the tremendously
favorable impression that the Ameri
can relief work is making upon the
Russian peasants. They have never
had anything done for them in this
way before and can hardly realize that
it is true. Naturally, they are enor-
mously grateful. That Igratitude is
going to count for America more than
we can estimate now when Russia is
restored to good standing in interna-
tional trade. No other nation is fol
lowing like course. When the Britor
or German goes into Russia to-day
he goes to exploit the Russians fol
his ends and not for theirs"
New-York tribune., 1922-07-18
Mistaken for Salesman,
Receives Cruf Greetings
Three Experiences in One Day
Convince Teacher That Sell
ing Is Hard Job

A local high school teacher last
week received an unexpected demon
stration of the difficulties of whole
sale selling at present. The teacher,
en- shopping trip in search of some
apparel for small son and a few
yards of upholstery cloth, started
down town carrying small travelling
bag in which to bring home his pur-
chases. His first stop was in small
store far up town. A gruff "What do
you want?" with suspicious cycling
Of the bag, greeted him. Upon inform
ing the proprietor of the shop that he
wanted to make purchase, the gruff-
ness turned to ingratiating smiles,
with the explanation that the prospec-
tive purchaser had been mistaken for
a salesman.
Gruff greetings also were extended
in two of the large department stores
when the teacher inquired the direc-
tion to the upholstery department, and
explanations that he was mistaken for
a salesman promptly followed. The
teacher is under the impression that
the salesman who calls on the re-
taller is having hard !ife-also that
prospective purchasers should not
carry bags that resemble sample cases.
New-York tribune., 1922-07-18
Early Advances in
Wheat Wiped Out
By Late Declines
Talk of Possible Rail Strike
Settlement and Better
Chances of Escaping Rust
Main Factors in Drop

CHICAGO, July 17.-Renewed talk
of possible speedy settlement of the
railroad strike and about increased
chances of escape from serious dam
age by black rust had much to do to-
day with bringing about lower prices
for wheat. The market closed heavy,
11s to 2asc net lower, with September
1.117sc to 1.12hc and July 114c to
1.14Ac. Corn lost &c to 1bc, and
oats 5sc' to 1c. Provisions finished
unchanged to 12c higher.
1t was late in the session before the
wheat market showed any tendency to
to point toward prolonged strike on the
railroads. This circumstance moro than
anything else gave for the time being an
upward swing to values. Higher quota
patton Of y good sized decrease in the
Visible supply total. were also effective AS
temporary aids to the bull side
Gossip about a new move for solving
midday, but details were lacking, and
wheat sellers who acted on bcarish views.
as to a change In the rail strike outlook
appeared to be guided almost entirely by
action OF railroad shares In the stock mar
ket.
Meanwhile. advices of favorable weather
conditions in the Northwest helped to
dispei fears of black rust and with an in
hux of selling orders from the East gave
impetus TO the last fall in prices. Early
spite covering by shorts. the close was at
nearly the bottom figures reached.
Corn and oats. weakened with wheat
after showing strength early; weather con-
Provisions averaged higher, rejecting
changes In the hog market
New-York tribune., 1922-07-18
Endicott-J Johnson Shows
Cain for the Half Year
Net Profits Equal $3.50 a Share,
Compared With S4.29 in
Same Period of 1927

An increase in earnings over the
corresponding period of 1921 was re-
ported yesterday by the Endicott-
Johnson Corporation in its report for
the six months ended July /. Net
profits of $2,361,239 were shown after
Federal taxes, depreciation and ad-
justment of inventories, equivalent,
after preferred dividends, to $5.55 a
share (par s5o) on the $16,s56,85o out,
standing common stock. In the similar
period of 1921 the surplus for the COM
mon was equivalent to $4.29 share.
Net sales for the six months to
July totaled $27,485,2O9, againsts $780,
831,651 the previous year, while oper-
ating income amounted to $3,901, ,736,
contrasted with $3,055,758.
The company's balance sheet as of
July ] last disclosed cash on hand
of $3,517,277, decrease of slightly
more than S1,o00,oo0. Accounts pay
able amounted to $SO6,0s4 and notes
payable to $7,9bo,ooo, against Ss,90o,ooO
on July 2, 1921. Accounts and notes
receivable were $8,912,304, an increase
of S2412526
New-York tribune., 1922-07-18
Country Produce

~ nafter- -Receipts We're 10.a15 packages.
eysran eysefS Ss higher than extras. s7h G sse;
ssyysohds. Il u @s21ac; lower grades. 80 ~ %
sa Genital lied cars. 90 score. "a @p3s " c +:
scors seols, ae,.sS5 ~ &c; SIS score. sac; So to 81
tf trss 1se' unsalted higher than .ex-
frsfs Ss9ass &c; extras, % score, 3S038 y C;
sr 's' si937c; seconds, 32M @33hc; low
finest. eseS' ssa y gSSs; state dairy tubs.
9en g faf s6$ssp SSSa tS prldd ades es5rsnt
pgs'as. paes,a. 2e3a 927c; lower grades. 20 q 26c (;
No ssMoss sMtoss current make. No. /. 27c;
=, 50 y Ws6c; lower grades. 22c.
Yori s.. eceipts were 2.539 boxes. New
aver 70 'a.e re mats, fresh specials, 2l@22o;
Hat run, zoAc; twins, fresh specials.
consin. ~, srssI average run. 2o@2oise; Wis
sis.s siSn, Daisies 2oA @2ic; Young Americas
eathssrsd eathssdaeoeipts were 1928 cases. Fresh
packed 1 extras. dozen. 31@ S2c: regular
sssksd rs rsts hFs5s assss;@s 2zis @soo; regular
sirstsr' slsisa' 2oQ2ahc; trade eggs, iS@sic;
;sna regular packed, No. l. 1917 90
psor pss, - NO; : and poorer. 17@1sc checks.
heanery onSSiee: wSi,e:. dry. i5@02oc; New Jersey,
wh,t.su extras, 4i444c: nearby hennery
and 'sso ea@lras. local candied, 44c; nearby
age ex@ras western hennery whites. aver
Esstern ~, bsW S9W 4lc; nearby and nearby
shl,.. hrsts So@34c; nearby gathered
gacsr hgsts 70 extra firsts. so@ sse
ses. Ps.aees' 70 2sc; pullets' eggs. 800
<oe. sethc Coast, whites, extras. $50
anasrexira extra firsts. a4@37c; frsts, so@aSc;
soush std rae S. as G02sc: other Western and
and I'm n, gathered whites 25 % 32c. nearby
Ira sssrby western hennery browns, ex-
calo,. S& Ssc; nearby brown and mixed
srtrs gathered extras. 31Q sac; firsss to
Nsrssa rssa'oes-,M Maryland, bbl. sf.25@175;
fscM., aroma. bbi. s1.25@1.75: No. Q.
sey ssai.; SO; Virginia, Dbl. s1.2502,5o Jer-
ssak ssssk S2.25; sweets, Jersey, basket. s sS5oG
han. vans, North Carolina, bbl s4; Ala
'sA ana Georgia, basket. SIPS 59l.59.
New-York tribune., 1922-07-18
Financial Items

Sales of the j, c. Penney Co. for June
were $3,9SS,46S, an increase of sl53.633 t er
the same period for the previous year
The Banco di Roma yesterday an
nounced the appointment of Mr. Andre
Hess as manager of its New York office.
MIR. Hess was formerly Paris manager cf
the Mercantile Bank of the Americas.
The firm Of Walter Stokes & Co. has been
formed with offices in the Lafayette
Building, Philadelphia, to deal in invest
ment securities The partners are Wal. .er
Stokes and w. r. Littleton. Mr.. Lttiat IN
is the son of w. G.. Littleton. vice presi-
dent Of the Fidelity Trust Company of
Philadelphia.
Dillon Read G. Co.. on behalf Of the
syndicate which offered 150 100000 guild
ers. Kingdom of the Netherlands, loan in
this market announced that the Dutch
portion OF this loan WAS heavily oversub-
scribed and that 1t is expected allotments
on subscriptions there will be approxi-
mately 40 per cent of the amount ap-
Piled for
y. Harry Lake. formerly vice-president
of A. Il. Leach & Co., in charge of sales
has become associated with Kelly Dray-
ton & Co.. members of the New York
Stock Exchange. in charge of sales.
Dominick & Dominick and w. A. Harri-
man & Co., Inc;s offering Jointly ST.
200. 900 American Water Works & Electric
Company, Inc, 70 cumulative first pre-
ferred stock. par value 800 (voting trust
certihcates). at 81. to yield about s.05gs.
New-York tribune., 1922-07-18
Commercial Credit

Both the buying and selling rates
on short term bankers acceptances
were dropped slightly yesterday. a re
Election of the continued easing in
commercial money. The buying rate
for both thirty and ninety day accept
ances was reduced from 3A to 8 per
cent and the selling rates from 8 to
2B per cent.
Commercial paper continued in fair
demand, especially from interior banks.
Local banks are buying little paper, it
is reported. Commercial paper rates
remained at and Az per cent, with
the bulk Of high grade paper moving
at the former figure.
The American Acceptance Council
quoted the following discount rates
for prime bankers acceptances eligi-
BILE for purchase by Federal Reserve
hanks.
New-York tribune., 1922-07-18
.oll Weevil News
Fails to Check
Cotton Declines
Reports Give
Bears Opportunity to
Work for Lower Prices;
Close 25-55 Points Down

rAa cotton trade did not take as
|s,aalv to boil weevil news yesterday
h did at times last week. There
s.s an abundance of such news in
- market, but there were also re
.o,ss at hand claiming that tho damaoc
s.cm this source was not so great as
IA heen reported, whicn .su u sc4ss q
4srs,,sion of ideas on the subject and
.sorded bears an opportunity to work
sa-a decline in the market. The trend
- =. downward pretty much ali day and
=. he close prices showed 25 to 55
so;ats net loss.
prss official forecast for rains in the
.a.,sr.vest, In where they are needed to help
~ .-ovgth OF young cotton. and the alb
- go 81 any favorable Developments In the
s;se situation were the principle selling
a.sscs throughout tho day Along with
iasss,,i,ints THAI the boil weevil menace was
esstssng rapid strides in all parts of the
p ssss v.ere reports that Texas WIS making
I ssh good progress that crop of even
y n 1sS "a f6o bales was possible. should wealth
= eartinue moderately favorable from now
- ON the afternoon decline, during
vrstcn nrices asnk 10 lowest Levels of the
Nv there was some heavy selling attrib-
s.sS 10 old bulls who appeared to be eithe-,
rsstInK out entirely or tightening thelr
s.Ns ssss.% Rains on the weather map we~s
aassss<sstbu,ed mostly over the Eastern belt
Nee they are not needed, while clear
wssthpr appeared In the Southwest. Au.
-xssa Ca. was one of the points report
sss~ i heavy rain in the afternoon. Taken
% %sssext her the market seemed to be moro
- = Two sided affair than 1t has been for
s.ne iue past, although most of the COM
,.srssofl houses we're still giving out advice
= NV on reactions and It was the opinion
y ssSae of the best posted circles that the
asrsst could still advance materially II
"a u 7ected rains should fail to develop
e. IL. Southwest or the labor problem be
ssstisa overnight. 1t was reported here
NAT sonne OF the cotton taken up on July
.snsxscts has been gone over by domestic
s3N men and the part which will meet
these particular mills requirements will be
moytt out of the stock, the balance being
ia local market for spot cotton was
oasi and As points lower at 2220c for
usadaag; no sales were reported.
Tne range Of prices
New-York tribune., 1922-07-18
Germany already Collapsed,
Near U.pheapal, Says Banker
complete Cave-ln, Which Is Only Question of Time,
Way BE Accompanied by Social Revolution,

Germany has to all intents and pur-
poses already collapsed, according to
clarence Dillon, head of Dillon, Read
q Co, who has just returned from
Europe Conditions there, are very
Pad, as measured by the decline in the
Iorelgn purchasing power of the mark
TO less than quarter of a cent, and
it is now only question of time. he
heheves, when German currency, fol-
lowing the course of the Austrian
kronen, will be as worthless at home an
abroad. When that point is reached
the completion Of the caving-in pro-
cess VIII, he expects, be signalized by
a poiitical upheaval, perhaps ac-
companled by social revolution.
:, This, in brief, is the picture of
Europe,s most troubled situation
brought back by Mr.. Dillon, who was
at his desk yesterday, following his
return on the Mauretania last Fridav
from two months trip, during which
ne visited England, France, Italy. Bel
gium and Holland.
=, "A loan to Germany at some time in
the future is almost a certainty" said
Mr. Dillon, "but at present there is
no basis for such loan, and there can
DC none until the political aspects of
the situation are adjusted. 1t is very
difficult to prophesy what will happen
IN Germany, but l rather expect a
complete collapse before relief of this
kind is Forthcoming. 1t will be bad,
put not so bad as in Russia, or even
IN Austria. In England they are look
ing Tor social revolution, but doubt
whether this will necessarily follow
upon a political turnover"
Mr. Dillon indicated the expectation
80 IL
might reach limit where francs.
guilders or other foreign circulating
medium might be used in Germany,
pending reorganization of the Ger
man currency. -.
Reparations the Crux
The necessity ssof proyidinr for
France, first, 'sectTfty, and secondly.
reparations, constitutes the crux of
the political situation in Europe, in
Mr.. Dlllon's opinion. These questions
takenS care of, he believes that the
working out of economic phases, in
Guiding the amount to be paid by Ger
many, which probably will have to be
scaled down considerably from ORIGINAL
estimates, will be relatively easy and
susceptible of quick accomplishment.
France has very real problem to
face said Mr.. Dillon. "She is at
present getting little sympathy in Eng
land, but | think that's should have
and has much sympathy from the
United States. We may not agree with
her position in all details, but we must
recognize the extent of its iustifica-
ton. By asking American sympathy
do not mean that the United States
should remit the whole or part of the
French debt to our Treasury. That is
not necessary to. a settlement and I
do not think that France is counting
upon it.
"The first essential is that France
be accorded security. Whether that
will come through treaty, through the
formation of a bumper state between
France and Germany, through the
seizure of the west bank of the Rhine,
through the -disintegration of Germany
into several states, or in some other
New-York tribune., 1922-07-18
Have 1t Written in the Bond-"M Mortgage Absolutely
Guaranteed"

The field of investment is in transition
state. Fluctuations have alarmed investors
generally. They are seeking to find a thor
oughly safe market for their money.
A way has been found that has stood the
rigorous test of the past thirty years The
Guaranteed Mortgage. as offered by the
Bond & Mortgage Guarantee Co. Capital
and Surplus SI2,oooyooo), has produced bet
ter results than any other line of invest
ment. 1t demonstrates that steady earn
ings and no losses win in the long run
New-York tribune., 1922-07-18
Middle States Oil Road

Directors of the Louisiana g. North
west Railroad, which was recently ac-
quired by interests identified with the
Middle States Oil Corporation, have
placed the stock on an annual Sc divi-
dend basis by declaring an initial divi-
dend of $3.50 share for the quarter
the equivalent of $18.61 share on
the S2,300,000 capital stock. Under the
Middle States management the road
has been considerably improved by the
laying of new rails and purchases Of
additional rolling stock.
New-York tribune., 1922-07-18
To the Holders of
NASHVILLE RAILWAY AND LIGHT
| . COMPANY
Refunding and Extension Mortgage 5O-Year
$50 Gold Bonds Due July l, 1858.

Notice is hereby. given as provided in
article 6 Of the Mortgage dated July /,
1908. securing the above issue of bonds
that ea!ed offers will be received until 10
A. NJ. on Wednesday. July 26, 1922, at the
office of the undersigned, No. 140 Broadway
New York City, for the sale to 1t as Trustee
ar the lowest prices at which such bonds
snail be offered not exceeding that price
at which the bonds so purchased. II held
until maturity, Will yield an interest re-
turn Of four and one-half per centuIn
G's 20 per annum OF sufficient Of the
above bonds to exhaust tho sum of Three
Thousand Two Hundred Thirty-two Dol
Lars ,Fortytwo cents (s3.2S242l Interest
IN the bonds accepted will cease on July
81 1922.
Offers should be sealed ond endorsed
Offers of Nashville Railway and Light
company Refunding and Extension Mort
gage Bonds to Sinking Fund" and should
be addressed to the Trust Department
The right Is reserved to reject any and all
offers in whole or in part
YORK.
By WILLIAM C, POTTER. President
Dated, New York. July l2, 1922
New-York tribune., 1922-07-18
NOTICE OF REDEMPTION
NOTICE OF REDEaipTIoN OF BONDS
OF
SPERRYs TT OJ-R COMPkNY


NOTICE is HEREBY G1VEf that on the
LIST day of August, 1929. all of ,.e outstand-
ing First Mortgage Six Per Cent Fifteen
Year Sinking Fund Gold Bonds OF Sperry
Flour Company. dated February /. 1919, and
secured by mortgage OF the same date exc
cuied by said sperry Flour Company to
Anglo California Trust Company, Trustee
will be redeemed and there will be then dus
and payable on each of said bonds. at the
office of said Anglo-California Trust Com
pany. situate at the corner of Marke, and
Sansome Streets, in San Francisco, Cali
fornia. one hundred and two and one-hsif
1o2h) per cent Of the face value thereof
with accrued interest thereon to sai6 LIST day
of August. 1922. The holders of SAID bonds
are REQUIRED to present the same for redemp-
ton at said Office of said Anglo California
Trust Company on said 1ss day of August.
1879, NJ said redemption price, to wit one
hundred ara two and one-hsif per cent OF
the principal amount thereof with accrued
interest thereon. Interest on said bonds will
cease to accrue on said 1st day Of August.
Dated: June 81, 1922
ASGLo-cALlFoRNiA TRUST COMPANY.
Trustee.
CHAS. F. LEEGE. vice-President, z
ssR% Ne EOPDREy. Asst Secty.