davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1922-04-17
j. 5. BUSINESS
CONDITIONS ON
UPWARD swing
General Revival Of Business
Seen In Industrial and Com
merciaI Enterprises.
Copyright. 1914. BY Cosmopolitan News

Copyright. 1s1s, by Cosmopolitan News
NEW YORK April 17.-Further
indications of the general revival of
American business are to be seen in
the current performances OF the in
dustrial and commercial enterprises
of the country, and those who have
been concerned at the comparatively
rapid rise of the security markets
have had occasion to revise their
opinions and deductions during the
past few weeks.
As has always been the case In
the Transformation from depression
to prosperity, investors who were
timid about the purchase OF specula-
tive stocks at or near the bottom
prices are quite willing 20 take their
chances at prices from ten to thirty
points further up. AT present there
are few II any indications that the
upward movement In the stock mar
ket has run it's course, and the ma
jority opinion of those who have had
long experience in the financial dis
trict is that the present level OF
prices has not fully discounted the
Forthcoming arrival of business.
The sudden marking down of rates
for treasury certificates, as well as
the growing ease in the money mar
kets has emphasized the attractive
ness of high-grade securities, and a
good many OF the listed bonds which
were formerly rated as semi-specula-
tive have been slowly but surely
moving up to a higher classification.
The recent advance In the prices of
these issues has been little short of
phenomenal. and the end is appar-
emily not In sight.
Today's foreign cables outline a
fairly optimistic situation in the
financial markets Of London, Paris
and Berlin, notwithstanding the
absence Of any real accomplishments
In the first week of the Genoa con-
ference. The real fiasco there has
been the attitude of the Russians,
who are playing a four flush as
though they held all the cards in the
pack. They evidently forget Unat
their arguments are directed, not
against the poor. deluded Russia n
peasants but against the shrewdest
diplomats of Europe.
The London markets are again
closed today In observance OF the
Easter season but the outlook is for
an active and buoyant market when
the exchange reopens tomorrow.
Gilt-edged securities remain the
prime fsvorites with the investing
public and new high record prices
are being created in nearly all of the
British government issues. These
developments are not without effect
upon American security markets.
General trading conditions through
out the country are as satisfactory
as could be expected. Retail dealers
were somewhat disappointed at the
small volume OF Easter trade. but
attributed IL TO be the frugal tend.
encies which the people have been
developing during the past two years
rather than to lack OF ability TO pur.
chase what they desired. Whole
sale business is proceeding on a
satisfactory basis, production Of
every line OF commodities IL being
gradually speeded up, unemployment
is declining and railroad traffic is
on the upgrade.
The Washington times., 1922-04-17
BANKING GROUP
D0M|NATESU.S.
LAUCK CHARGES
Labor Economist Tells Sena-
tors Combine Controls
Economic Destiny.
By International News Service.

The economic destiny of the United
States is directed by an inter-indus.
trial.railway5snd banking combina-
ton" with power to stimulate or
suppress Industrial activity, IL was
declared today before the Senate In
terstate Commerce Committee by w.
Jett Lauck. appearing as consulting
economist of the railway department
of the American Federation of Labor.
Lauck placed the responsibility for
the present plight of the railroads
upon the financial rather than the
operating end of management.
THE railroads have been domi-
mated" he charged, 'by men who
knew how to manipulate stocks and
bonds, rather than by men who knew
how to carry on the service OF trans
portation on the basis of a maximum
load for a minimum OF energy"
Iauck declared the control OF the
railroads, manufacturing and mining
finance and credit centered in a
small, inner group of New York
bankers and financiers of which the
banking house OF ]. p. Morgan a Co.,
Is the apex"
Lauck presented an exhibit which
he said showed ''indubitable evidence
of the intention and design OF. this
combination with respect to the in
tensificaion Of general unemploy.
ment."
"It shows" Lauck continued, that
there is a capital and credit combine
consisting of the major banks, the
railroads and the Industries control.
ling basic materials, and that this
combine has and exercises a power
over the economic destiny of the
United States"
The Washington times., 1922-04-17
STOCK MARKET
MOVESUPWARD;
oils FEATURE
Flood of Buying Orders oreets
Market at Opening, With
Many New High Marks.
BY w. s. COUSINS,

Copyright. is22, by Cosmopolitan News
servico)
NEW YORK. April 1.-THE ex-
traordinary display of strength and
activity in the stock market which
characterized the close of last week
was responsible for the flood OF
buying orders which greeted the
market, at the opening today, and
under the influence of which, COM
bined with the reduction in call
loan rates TO 3h per cent, the
market doomed forward again.
As on the last few days of last
week, the oil stocks practically
lators In the first hour, and II was
ten minutes after the opening be-
fore the committee was able to an
nounce the official price on Sinclair
OIL. The price was posted at 81 TO
SAN, one point higher than Satur-
days close. This was the highest
point IL reached, however, for short
ly before noon q raid was made on
the stock, under the influence of
which IL was heavily sold in every
part of the market, retreating
abruptly for a APPOINT loss 70 S0A
when reports were received that the
Teapot Dome dealt with the Govern
ment will be attacked. selling or
ders flooded I'm from all sides.
other Of the oil stocks which In
the early trading exceeded their best
1922 records were s. o. of N. j. at
1s4, Texas Company at 42M, Invinci-
BILE at 20. and Mexican Petroleum at
1851. Houston OIL was strong and
active at so.
The shipping stocks were again
prominent for their strength and ac-
tivity. Marine common made a new
high at 21, while the preferred sold
up to S4if. The copper stocks made
the best showing of the year. Ana
conda selling up to 81. for a new
high, Kennecott at 32%, also a new
high and American Smelling and re-
filming at 5sk. The railroad shares
went into high ground in the first
hour. but failed to maintain their ad-
vantage. selling off under profit TAX.
ing, around the noon period.
The Washington times., 1922-04-17

The amendment would require each
regional Federal Land Bank. subject
to- the approval OF the Federal Farm
Loan Board, 70 proceed TO establish
IN the capital of each State in its dis.
trict. branch bank which would
make laons TO farmers according TO
the provisions of the act.
Upshaw's Statement.
In explaining the purpose OF the
bill. Congressman Upshaw said:
However vigilant the directors of
The regional banks under the present
system may be. 1t is impossible TO
communicate and negotiate with
prospective borrowers as promptly
and as satisfactorily as could be done
II there were branch bank in the
capital of each State. The Farm
Loan Associations are making con-
stant appeal for closer contact and
quicker action. When the Federal
Land Banks were emancipated by the
Supreme Court decision establishing
their constitutionality, I announced
my purpose to introduce this bill
establishing a branch bank in every
State. and the sluggish functioning of
regional banks under the congestion
of business since then has convinced
me more than ever that a State
branch is a necessity for the con-
venience of the farmers"
The Minneapolis, st. Paul and
Sault Ste. Marie has been tempor-
srily enjoined from paying sS40, 900
dividends on common and preferred
stocks by Federal Judge Booth.
Continental and Phoenix Fire In
surance Company, owning 1900
preferred shares, asked that pay
ment of a semi-annual dividend OF
S2 a share be enjoyed on the ground
preferred stockholders must be paid
at the full annual rate Of per
cent before common purchases.
The Washington times., 1922-04-17
I. c. c. to Defer Decision.

The Interstate Commerce Commits
sion announced today that II would
hold up until August Is decision on
the proposal to increase the freight
rate on lumber from 35.5 to 45.5 per
hundred pounds from points in Mis-
sissippi on the Alabama and Missis.
sippi, Jackson and Eastern, Missis-
sippi and Western, and Meridian and
Memphis railroads to Ashland, KY;
East Huntington, w. Va, and dcsti-
nations on the Chesapeake and Ohio.
The Washington times., 1922-04-17
STRIKERS IN GERMANY
DlSRUPTINC INDUSTRY

Widespread strikes through Ger.
many have partially disrupted in.
dustries, the Commerce Department
was advised today In reports OF
American agents.
Growing unrest among workers,
because wage advances have not
kept pace with the soaring cost OF
living, was reported by trade rep
resentatives.
While the general wage level In
Germany has increased twenty-five
times the pre-war figures. the cost
Of living, even modestly among Ger.
mans generally has risen several
hundred per cent.
The Washington times., 1922-04-17
Fs HHaHH#s BUSINESS AND FINANCE ~##aaEsug
TODAY'STIPS
ON
BUSINESS
BY Cosmopolitan News Service.

California produced 1o,s45,s57 bar
rels of oil in March against s,03e,-
476 In February.
The Ohio Savings Bank and Trust
Company has filed in Federal court
at Toledo a motion for an order of
sale or the auto-light corporation's e
plants at Toledo and Fostoria in
an effort to assist In payment OF
claims against the willys-O Overland
corporation, OF which auto-lite is a
subsidiary. Total claims filed
amount to $4,000, 900, half of which
will be admitted to be valid, the
report accompanying the motion
says. The auto-lite corporation il
held to be worth s4,210,000.
The A1lis.Chalmers Manufactur
ing Company reports a net prof,
for 1921 OF s2,215, ,46s, after pre-
ferred dividends are met this gives
s4.O7 a share profit on $4,000. .o0t
common stock.
The Washington times., 1922-04-17
local Stocks.
SALES.

Capital Traction SIS, 81 ,0oo@s5h
81, ,000@965l, s1,000Q95ia.
Washington Railway and Electric
as, $1.000@69.
Washington Railway and Electric
General 6's. s1.000@9SA.
Capital Traction, 1Q961, 25@95h
10@95h. 6@s5h. 2oQse, 1o8s6, 10
@96, 10@S6,
Lanston Monotype. SOFT, 5a77,
5Q77, 6477. 10Q77.
After Washington Gas SIS,
s500@92&, s500@S2%.
Washington Railway and Electric
As, s2,000@96k, s2,000@6sA.
Potomac Electric q. M. SIS, $1,000
@100.
Money-CaIl loans, and per
cent.
The Washington times., 1922-04-17
So. Ry. Asks Guaranty.

The Southern Railway Company
today asked the Interstate Com
merce Commission for authority to
guarantee payment OF 1890, 900 OF
equipment trust certificates to be
issued by another road.
The Washington times., 1922-04-17

Undoubtedly the next important,
development In the financial mar
kets viii be the flotetion of mil
lions of dollars worth OF new bond
issues, the proceeds of which will
be devoted to the refunding or high
coupon outstanding issues, the ex-
pansion of domestic enterprises OF
various kinds and the accommoda,
ton OF foreign governments and In
dustrial concerns which desire to
purchase goods in our markets.
The Washington times., 1922-04-17
BONDS
SHOW INCREASE
0VERLAST YEAR
Price and Volume of 6onds
Sold Both Show SUBJ
stantiaI Gains. =
" MUNRoE ROBERTS.
sarYine.l - !. -.

ssrvios.l ~ "a
NEW YORK, April 17.-Fractis
caliy the same tendencies may be
observed In the bond market az in
the stock market. In every bull
market the spectators and inves-
tors who are timid about acquiring
their stock and bond holdings when
prices are at the bottom show no
hesitancy when they have moved up
10 TO 30 points. Investment dealers
report a spontaneous demand from
investors for every kind OF high
grade bond. The supply. Is not equal
TO the demand.
On the listed bond market the
total sales this year TO date have
reacheda the high figure of 81 ,35o,-
100000 compared with $3.50 900 600
in the same period last year. The
following price comparisons ara nes
nificant Nbv.N
The Washington times., 1922-04-17
ADVANCING WASHING.
TOMS INTEREST
Would Aid Farmers by
Increased Land Banks
Congressman Upshaw Introduces Amend
ment Establishing Branch Land Banks
By Each Regional Bank.
BY HARRY GUSACK.

The establishment of branch land banks by the various
regional Federal land banks with full power to negotiate
loans FARMS contained in amendment to the Fed
era Farm Loan act introduced by Congressman Upshaw
of Georgia.
The Washington times., 1922-04-17
REVIEWS
FINANCE Of 40
YEARSINb BOOK
Interesting Narrative, Without
Tables, Written by Deputy
Comptroller of Currency.

Thomas p. Kane, Deputy Comp
troller OF the Currency, has just com
pleted writing his "reminiscences OF
his forty years service I'm that de-
partment. and the books are 10 be
brought out this fall by the Bankers
Publishing Company. Of New York,
publishers of the Bankers Magazine.
The period covered by Mr.. Kane's
"reminiscences was the real formative
period OF the national banks. and
their growth in number, size and i'm.
portance during that time has been
enormous. The whole subject is one
OF intense interest to bankers and to
those interested in the financial de-
velopment of the country.
The first chapter of this book re-
lates TO the passage of the national
bank act and the necessities which
led TO it's adoption. This is followed
by a chapter on the organization of
the Currency Bureau by McCullocb,
the first Comptroller of the Currency
and twice subsequently Secretary of
the Treasury. Then II takes up each
succeeding administration of the
office. commencing each chapter
with the biography and portrait of
the Comptroller, followed by all of
the principal and interesting events
OF his administration.
The Washington times., 1922-04-17

" you Wish 10 profit through the Mss
ferk Stock MARKET you should uaderstsnd
0ur system. Tell us hew much you have
10 lsysst and we Will advise you how We
believe ycu can best invest u 10 secure
safety and GOOD returns. sEsco, asa Bond
BuHdins, wsshinafcn, o. o.
The Washington times., 1922-04-17
History OF Failures.

1t covers the history of all large
and important national bank fail.
failures. entertainments, defalcations,
robberies, etc, such for instance as
the Fidelity Bank of Cincinnati. the
result of Harper's attempted corner
of the Chicago wheat market, the
wrecking OF the Oberlin National
Bank by the celebrated Cassie L.
Chadwick by use of notes bearing
the forged signature of Andrew Car.
negfe, with photostat copies of the
notes and fictitious agreements. The
story of the failure OF the Chicago
National Bank and the trial, con-
viction, imprisonment and death of
John r. Walsh is related in detail.
as well as the Bigelow defslcation OF
81 10000 and the Alvord defalcation
Of 100000, the Riggs National Bank
controversy, the failure OF the Ma.
rine National Bank, and OF Grant a
Ward, the great fires in Chicago,
San Francisco, and Baltimore, and
the resulting banking property losses,
the several bank panics that have
occurred during the period indica,
ted and their causes and effects. and
many other matters of a similar In.
teresting and varied nature.
The Washington times., 1922-04-17
Liberty Bonds.

FURNISHED by W. d. Hibbs a Co.
prl0ae NJ poon.
The Washington times., 1922-04-17

Stock sales up to-
II a. m. ~ noon .. m. 2p. m.
ss7,soo
Bond sales up to-
II a. m. IL noon In. m an m
fs.o1s,oo0
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1922-11-06
INDEPENDENTS WIN

The Indepdent football team had
easy pickings when it ran into the
leatherneck Devil Dogs" from An. An
nanolis Yesterday and defeated them
in a poorly played game "a to =. Inc
scoring was done throughout the
came beginning with the first two
minutes Of play when Tom Peyton
took in one of Simpsons passes and
went over the goal for counter
The air route is the principle one
nsed by the Independents in their
scoring. Two superb ends and a
quarterback who can pass are the
chief reasons for the eciency of this
system. Jimmiffie Hasson, who. Is
captain of the Independent team is a
GOOD and consistent ground gamer.
The Marines from Annapolis could
hardly be classed as a team that
could do Justice with the 1ndepen-
dents. They could not gain anywhere
and scored their touchdown following
q tumble.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1922-11-06

hack To Detroit where he mad 10 nave
he hone rebroken mad reset. At this
tine Il was found that his shoulder
also was broken,
In letter to his brother, Dick
Heilman. in San Francisco, the niger
star declared his shoulder was IN
such bad shape that he not only des-
paired of being able to SWING a pat
next wear, but that he feared ne
would never be able to play again.
As they finished the season, the
Tigers looked lie read good pros
pect for the 1928 pen,ant race and
the loss of Heilman, one of the main
works of the team, would be a severe
hlow TO Tv Cobb's chances of grab
bing the pennant.
Cobb is rebuilding the team and
the results he achieved In the lasSS
race was one of the big surprises OF
If the deal should go through with
the Boston Red Sox by which the Ii
gers would get Derrill Pratt and
erin" Collins, they ought TO be one
of the favorites for the championship
After they finally got going past
the half-post in the race, the Pitts
bnrgh Pirates looked like the best
team in the National League.
Pittsburgh fans felt if Bill Nc.
Kechnie had been placed in charge OF
teh team at the start OF the season,
that the Pirates would have won the
pennant
McKechnie is going right out after
THE championship next spring, and he
plans. to make several changes in the
team. He wants a couple of pitch
ers. and new infielder and another
right handed outfielder.
/ Horace Ford, the Boston Brave
star, may be in a Pittsburgh uniform
! if deal can be made this winter, it
is understood. -
McKechnie is said to be willing to
part with Barnhart, Hamilton, yell
low Horse, Brown Rohwer, Collins,
and Lovelace in trades.
! Cooper and Morrison are said to be
the only pitchers that are sure OF
their jobs for next year.
Considering the fact that the Pr
rates did not begin to work properly
until Walter Schmidt deserted the
holdout ranks, it is rather unusual to
hear talk from Pittsburgh that Bar
ney Dreifus wanth to get rid of him.
Schmidt is one of the finest catchers
in the league but he and his boss
cannot agree on what salary he is
s worth.
Just before the close of the season,
Schmidt wrote to a friend in Cali
fornia that he was going to manage
teh team in 1923 and it gave rise
to reports that he wasn't friendly
with McKechnie. Previous happen
ings do not support the story, how>
ever, as one of McKechnie's first acts
as manager of the team was to insist
upon meeting Schmidt terms and &c:
him back in the game.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1922-11-06
cp I,gtAfp ~ - -
o. attest =c
OPORT NEWO

vania.
Syracuse was figured to be a cinch
for Nebraska, a team that came cas-.
touted as one that could take all the
big aesterr teams one after another
in successive days. 1t was not al
! together the breaks either, that gave
Syracuse the victory
After defeating the great navy
eleven, the week previous, Pennsyl-
vania went into a sort of agotistical
trance and fell an easy victim be-
fore an underestimate Alabama
! eleven.
Washington and Jefferson's victory
over the undefeated Lafayette elevea
might be regarded as a surprise only
to those who picked Lafayette to win
Both teams were evenly matched and
w. and j., won because their game
went above their shoulders.
Harvard, Princeton, Cornell,
, Army, Washington and jefferson and
West Virginia are undefeated among
the eastern taems. Harvard still
looks to be the best rouded and the
most powerful eleven. Three of them
will get their test this week when
Harvard meets Princeton and when
Cornell goes against Dartmouth
Cornell, with 259 points, leads the
east in scoring; Bucknell has scored
200, Colgate 1872. Carnegie Tech 1872,
Army 172 and Penn State 1877.
Notre Dame leads the west in
scoring with 1856 points. Auburn is
the best in the south with 252 points
and California leads on the Pacific
Coast with 264.
Michigan is the only eleven in the
country that has not had its goal
line crossed or a point scored against
it.
Jimmy Robertson, Carnegie Tech,
leads the east in individual scoring
with 10 points from IL touchdowns
and one point after touchdowns
Bruner. Lafayette, back is second
with II, Wilson, Penn State back, is
third, with CT and Palm, Penn State,
quarter back is 4th with 55.
Robertson leads in touchdowns
scored with -; Manson, Cornell leads
in goals after touchdown with % ana
Mcbride, Syracuse leads in feid
goals with 8.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1922-11-06
Generous Response In
Appeal for Lepers

In response to the appeal made to
the churches of the city through IT,.
Gazette in behalf of the Leper AS
sociati0n for old vests and Ivody
soap, there was a generous response.
It came from the home department
of various Sunday Schools, church
members and citizens il general
Eighteen vests and fifty cakes Of
IvCdy soap were counted in donations
from tie churches. Seven vests with
no name attached were received,
eleven cakes of Ivory soap, no name
attached; % pair Of eyeglasses from
st. Paul's Church; two pair from
the Al. E. Church South; handker>
chiefs. belts etc, from Christ Episco-
pal Church.
The assc citation deeply appreciates
the general response and desire to
thank all who came forward. The as
ISOLATION also desires to thank the
Gazette
Mrs. William Campbell, chairman.
Mrs. NJ. T. O'Brien, president; Mrs.
William Campbell, vice president;
Miss Mary Williamson, treasurer,
Miss Margaret Germond, recording
secretary
The total received follows: 35l
cakes of soap; 45 rests, $50 cash, all
from the churches and divided as fol-
lows:
Second Presbyterian, "a cakes OF
soap, 13 vests, $8.45 cash.
Christ Episcopal, rs cakes Of SOAP.
First Baptist, As cakes of soap; 80
cents cash.
st. Paul's Episcopal, IA cakes Of
soap; 5 vests, $40 cash.
Nj f. Church South, so cakes Of
soap; vests; 1925 cash.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1922-11-06
zgs, VfRGINIANS LOSE

Mercury is revenged. Last season
the southwest warriors invaded Alex
andria and returned home vanquished,
but yesterday, on their home grounds
at the Washington Barracks, they re-
turned the compliment with q ven,
geance when they triumphed over the
Virginia A. c., with 32-0 score.
The Virginians put up much bet
ter battle than the score would indi-
cate. They offer no abb for their
defeat as they fully realize, as did
the immense throng that witnessed
the scrap, that Mercury presented the
hest team. In the first half each
team appeared to be about equally
matched, though Mercury, in the last
few minutes of the half, aided by n
penalty. managed to push over thelI
first score. The opening OF the sec
ond half found Mercury with a much
stronger combination than had been
performing in the earlier periods
which completely took the Virginiaans
off their feet. The Virginians IN TINS
final half displayed their finest brand
of football shown this season but all
to no avail. as they were unquestlnn'
ablv outweighed and eutclassed. Inc
Virginia team, both line and backheid'
PLAYED real football throughout the
game but the odds were too large 10
make any definite impression.
Rivers. of the Mercury team Was
thnir outstanding star, accounting
for three of their touchdowns, one
from q long forward pass which was "a.
the feature play of the game. Sulll-
van. by far, outranked his opponent
on the punting question. Mcbride and
Ganey also put up superior brand
of football. ,.o,s
"Heinz" Yates again proved himself
the Virginians ace on defense, though
the work of his running mate, Dave
Corsa. in the line, and of Captain
Peyton and Brute" Briscoe IN the
backfeld, was far above par. On tne
offensive Poss, Paul Howard anu
"Ham" Nugent excelled.
II there is such a thing as beng
glorious in defeat the Virginians sure
Showed that spirit, and even though
ontclassed they went down fighting
Never once did the thought of giving
mn appeal to them-they kept right
on plugging and fighting and showing
the stuff that makes for real football