davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1922-03-05
aH#e BUSINESS AND FINANCE ~1AaH&
Electric Line Seeks to
Drop Freight Service

CHARLESTON. w. Va. March 4.
Tho public service commission to-
day set March II as tho date for
tho hearing on the application Of
tho Ohio Valley Electric Railway
company to discontinue freight ssr-
vice between Huntington and
Kenova- The company seeks to
discontinue the service through 70
Ashland, but this commission has
no jurisdiction in the state Of Ken
lucky.
In its petition g1ied q few days
ago, the electric company declared
that a loss of about $500 10 suffered
every month on the operation of
this service, and that tho loss IL
growing with each month. In jan
uary. the receipts amounted to $500
and the operating expense was
$500. Because of the hard roads
between the termini the business
has been q failure for the last two
years. Two round trips have been
made each day.
The Washington times., 1922-03-05
Weekly Financial Reuiew
BY HENRY cLEWs.
Of Henry Clews q Co., New York Bankers.

labor have cut expense Of operation
for the public utility concerns and
thus afford a basis for permanently
higher quotations for that group IL
shares, which some Of them are al
ready enjoying. In addition. the
pending suits in which the Supreme
Court Is shortly to hand down a
decision-those Of the Consolidated
Gas and Reading compAnies-afford
an important element In current
speculation since the one involves
important questions under pending
Federal legisls ton which Will be OF
decided importance to stockholders
in many companies, while the other
bears upon the right Of the public
utility concerns TO ask for fairly
remunerative rates. when charters
do not specifically prescribe the rates
to be charged
An Improved Crodft Position.
The quick response Of tho market
during the past week to offerings
both of Government and private Sc
curities has once moro demonstrated
the Improvement existing In our
credit position. It u not expected
that tho extremely high ratios OF re-
serve which exist in the Federal Re
serve Systsm will be long maintained,
the board expressly attributing them
to unexpected recent importAtions Of
Russian Gold. The latest report
shows q reaction OF Ia per cent to
1877 per cent. Nevertheless, without
reference to the temporary accre'
tons Of specie which have taken
place Of late months. the banking sit.
uation has been very thoroughly
liQuidated. and conditions In the mar
ket generally show that we are now
prepared to finance any reasonable
demands. whether for home or do
mestic trade, that may be presented.
Extreme declines of market rates are
not to be expected for reasons ofteL
heretofore stated. q fact once more
illustrated In tho recent offerings Of
securities to which reference has just
been made. Much more rapid uqui.
dalton of loans At Southern and
Western banks n, however, now pro.
ceedins.
Market Review and Outlook.
The market has developed unusual
power Of absorption. ono OF the FAC
tors necessary to an upward move
ment. The truth II. as often pointed
out, that the floating supply of stocks
" small and that those who own
shares are confident that by holding
on they will eventually be able TO sell
on better terms than those now pre-
vailing: and this In all probability Is
the correct view to take. although II
goes without saying that one must
be prepared for hating periods nov
and then. especially until the agita-
ton now going on for the passage OF
a huge bonus bill ceases to be an In.
portant market factor. So far as tn .
future ID concerned. notwithstanding
that the market has had such a con-
siderable advance, the general run OF
stocks cannot be regarded as selling
at high figures, now that the tradt
outlook. both at home and abroad, Is
becoming so much brighter
The Washington times., 1922-03-05
U.S.SHIP BOARD
/. MOVES To HALT
NEW RATE WAR
Peace Farley Will Be Held
In New York Next
Week.

Vigorous efforts win be made by
the United States Shipping Board
to halt what threatens to be a new
rate war on the North Atlantic rs
a result of the withdrawal of the
United American Lines from the
Continental Conference by reorgan.
izing the conference on q zone
plan.
William J. Love. vice presidentfof
the Emergency Fleet Corporation
in charge Of traffic. announced that
he would seek a peace parley in
New York next week, while w. B.
Keene. traffic manager. departed
tonight to lay the groundwork
With the Continental Conferences
agreement affecting the trade routes
from New York to French, Dutch.
Belgian and German ports. II 10
feared that the withdrawal OF the
United American Lines. involving
the Hamburg Limo be.
cause OF the joint service maintain
ed. will cause q further drop IN
rates.
According to r. A. 9. Franklin,
president Of tho International Msr.
cantle Marine Company. tho action
OF the Hartman Limo II expected
feet" upon the situation and will
result in tho steamship companies
which are now losing money under
the present tariffs piling up Q
larger deficit
Tho withdrawal Of the Unitet
States Lines came suddenly and
unexpectedly last Wednesday In
New York. Christian J. Beck, traffic
manager. asked the other lines To
permit the United American Lines &c
book provisions at q prevailing rate
for the remainder Of the year. The
conference rule was that forward
bookings could not exceed three
months. When consent was no,
forthcoming Mr.. Neck 10 reported
to have handed in tho resignation
OF his line, stating at that time
his company would not commit
itself to anything calling for m
advance in the provision rate.
The present continental confer.
ence was resurrected after a rate
war had been in effect for mor-
than . year. According TO the
traffic men IL was not organized on
firm ground. covering as II did the
trades to four countries, but this
was considered better than nothing
Tho following statement was
issued today by Mr.. Love:
The action OF ono Of the prin
cipal transatlantic lines Omitted
States Lines) in Withdrawing from
the North Atlantic continental con
ference will undoubtedly result in
lowering Of the already low rates
existing in this trade. and on which
owners Of every flag have found
IL difficult to continue in business.
I'VE have felt for some time that
the North Atlantic conference rep
resented such diversified interests
covering as II did German. Belgian
Dutch and French Atlantic ports
that Il could not continue TO func
ton intelligenuy or remain In
harmony unless certain fundamental
changes were made in its activities
Recently tho situation has beer
further aggravated by the ruthless
competition Of British line Omitted
States Navigation Company e
Hamburg, which had declined &c
join the conference. There wer-
other disturbing elements. as wa,
to DO expected. within the confer
enos.
The Washington times., 1922-03-05
Big Stone Gap Street
Bonds Are Sold at Par

BIG STONE GAP, Va. March I.
AT a meeting OF the finance COM
mittee Of the town council bids for
bonds issued by the town for street
improvements to the extent Of $780,.
900 were opened. John H. Caldwell
Company, of Nashville, Tenn. put
In the best bid. their price being
$4,000 more than any other bid sub
mitted. The bonds were sold at par
at an interest of 8 per cent. 1t will
be some time before actual work on
the streets will commence. as the
legality Of the bonds will have to
be approved by expert bond attor.
neys at New York. 1t Is hoped to
have work started by April 1 or
sooner X weather will permit.
The Washington times., 1922-03-05
RAILROADS AS SHIP
OWNERS ADVOCATED
Sale of Board Vessels to For
eIgners Approved IT oper-
ated Under U. S. Flag.

n railroados were permitted 10
own and operate steamships In Tor
eign trade this would contribute TO
general prosperity by helping to
make the railroads prosperous, ac'
cording to opinion in Administra-
ton circles. 1t was said yesterday at
the White House. The nations
great need, 1t was declared. was
reduction in the cost Of transporta.
ton. coupled with the upbuilding or
a merchant marine and the stimula.
ton Of trade.
Foreign competition could be met
and foreign commerce built up, II
was said. by permitting transconti-
mental railroads to own ships en-.
gagged in trade with tho Orient. and
this, II was added, probably would
bring about reductions in transpor-
tation rates. In addition. II was
asserted, II American railroads
owned steamships in international
service, they could obtain much OF
the immigrant traffic now being car
ried largely in foreign vessels. In
some instances. It was said. I'M
migrants are being landed at Cana
dian ports and make the rail section
Of their journey largely on lines In
the Dominion, leaving only short
hauls for the American roads.
1t was also made known in Of
fetal circles yesterday that the Ad-
saw no objection to sale
Of Shipping Board vessels to foreign
ers, provided they would agree to
operate the ships under the United
States flag. Americans should. Of
course, be given preference in such
sales, II was added. and the hope
was expressed that they would take
of the opportunity.
The Washington times., 1922-03-05
Norfolk to Tap Lake
Prince for Water Soon

NORFOLK, Va, March 4.-The
city Of Norfolk is on the last lap"
Of the Lake Prince water develop
ment, and by the middle Of June, II
all conditions remain favorable, the
equipment will be in readiness to re-
ecive the flow Of water which will
safeguard this city from water short.
age for all time. City Manager Ash
burner announced.
The pipe line from Lake Prince
has been completed to the edge OF the
western branch OF the Elizabeth
river. and on this side It Is complete
from the pump house at Thirty
seventh street and Parker avenue to
the river. 1t only remains to lay the
pipe across the western branch and
make the connections which will es.
tablish the line to the lake.
The Washington times., 1922-03-05
Good Showing Is Made
By Norfolk & Western

ROANOKE, Va. March 4.-The
net income of the Norfolk and West
ern Railway for the month OF jan
uary was $567.234.78. as compared
with $l56.S38.1 for the same period
in 1921. according to a statement
given out from Vice-President A. c.
Needles office here.
The operating revenues Of the
railway amounted to $8,026, 674.70
for January. 1922. as compared with
S7,444,S54.57 for the same period In
1921.
The operating expenses for the
month OF January. 1922, were 81
733.562.os as compared with 36,9l3.-
992.s6 for the same period in 1921.
The operating expenses decreased
more than $4,000, 900 in January this
year under the expenses for Jan.
uary in 1921.
The Washington times., 1922-03-05

NEW YORK, March 4.--President
Harding's definite although unoffi.
cial announcement that he would
veto a bonus bill IL sent to him with
out any revenue feature renders II
still more unlikely that Congress
will succeed in agreeing upon any
action. The talk in both House
and Senate Ia now almost entirely
about q bill without revenue Tea.
lures or based on some supposed
insurance scheme Of inflatfonist
nature which Is practically sure OF
veto IL adopted. This seems to
relieve the community of . menace
In the shape Of new taxes AZ to
which no little fear has been felt
since the proposal was first urged.
Better Foreign Conditions.
The Senate's action In confirming
the Debt Funding Commission, in
GLIDING two members Of such known
skill and conservatism as Senator
Smoot and former Senator Theodore
Z. Burton. in addition to the three
strongest members OF the Cabinet.
gives good promise that our foreign
debt problem will be dealt with care
fully and sympathetically, without
moro disturbance than Is inherent
In the terms Of the legislation
adopted by Congress. Foreign ex.
change quotations have continued
to reflect the improved conditions.
sterling and francs reaching new
high levels, and apparently promis-
ing still further advance. Great
Britain's nearest approach to q for
eisn trade balance through increase
OF her exports and decline of her
imports. and our own progress In
the same direction resulting from
falling off OF exports and increase
of imports. are bringing the two
countries closer to a state OF things
in which parity OF exchange can be
expected.
Decided Business Improvement.
The monthly business report Of
the Federal Reserve Board reflects
decided trade Improvement In many
staple Industrial lines, as well a. =
process OF adjustment among IN
dustries which indicates q much
nearer approach to normal condi-
lions. The operation Of the steel
industry, taking all plants combined.
Is now working well up toward 60
per cent Of capacity. as is shown By
evidence from a variety OF sources.
Shoe and leather trades have also
advanced in activity even more than
the natural seasonal growth Of bust
ness would have required There
has been a very decided improve
ment in conditions in the asrtcul-
tural regions due to the higher prices
for staples and the more hopeful at
titude Of the banks with respect to
the new planting season. Bankers
who have returned from Western
trips report the condition very much
relieved in nearly all sections
Rails and Utilities.
Nothing Is moro striking IN cur
rent market conditions than the con.
tinued strength Of rails and utility
stocks. As often noted In the past,
the basic factor in connection
with the rails Ia tho stronger
earnings showing which they
are so unexpectedly making In
many cases, as illustrated by Penn
sylvania's gain OF $4,000, 900 In jan
uary over a year ago. Equipments
reflect this state Of things. and their
good earnings warrant high values
Lower prices, as shown by whole
sale index numbers. which still ind.
cate q tendency toward reduction,
and the downward movement OF
wages to correspond with cost OF
The Washington times., 1922-03-05
BANK EXAMINER MOVES.

RICHMOND, Va. March BE
cause of the need for frequent con.
ferences with the Comptroller Of the
Currency and to cut down expenses
of the travel, the Office OF Chief Ma.
tional Bank Examiner William J..
Schechter. for the Fifth Federal Re.
serve District. has been transferred
from Richmond to Washington.
The Washington times., 1922-03-05
SUES FOR S26,4OO.

BRISTOL, Va. March Asking
for Judgment in the sum Of s26,40o,
suit has been filed in the corpora
ton court Of Bristol. Va. by J. g.
Tilley. president Of the Twin City
Boiler Works. against the Petroleum
Trust Company. a Chicago corpora
ton. Mr.. Tilley alleges breach of
contract.
The Washington times., 1922-03-05
TOBACCO SALES SLUMP.

HUNTINGTON. W. Va. March 4.
Tobacco sales on the Huntington
hurley market will reach 5000, 900
pounds this season. This figure.
Grayson d. Thornton, hurley expert.
said. In just half of the anticipated
sales. The average price for the sea-
son has been around $50 q hundred.
The Washington times., 1922-03-05
MILL FIRM ASSIGNS.

HARRISONBURG, Va, March 4.
The G. A. Davis Milling Co., Cd.
Grating a Touring mill at Nc.
Gaheysville, and another on the
Shenandoah River. known as the
Riverbank Mill. have made an as.
signment to the following trustees:
d. o. Dechert, Geo. N. Conrad, and
John T. Harris, for the benefit of
their creditors.
The Washington times., 1922-03-05
Building Strike Looms;
Wage-Cut in Charleston

CHARLESTON. W. Va. March 4.
"A strike In tho local building In
dustry doomed to day when the oen-
trail building trades council rejected
the proposed 12h per cent wage cut.
which contractors said was their
ultimatum- Contractors originally
asked Is per cent wase reduction.
but later modified their proposal.
The present contract expires March
81. ...
The Washington times., 1922-03-05
MONEY IN GRAIN

t1iBo buys GUARANTEES Option on
10, 900 bushels of wheat or corn. No
guarantees price gives you an oppor-
tunity TO take 1900: 20, 1900; Sc, $500,
etc. Write for particulars and free
INVESTORS. DAILY GUIDE, Southwest
Branch, Desk DC, 1904 Baltimore Ave,
Kansas City. Mo.
The Washington times., 1922-03-05
BUY $4,000 BARRELS.

LYNCHBURG. Va. March Fifty
thousand empty apple barrels have
been contracted for by the Nelson
County Fruit Growers Association.
which 10 spending something like
$4,000 in a cooperative purchase of
barrels. spraying materials. fer.
tilizers and seeds for the apple and
peach growers who are members OF
the organization.
The Washington times., 1922-03-05
PLAN HOSIERY MILL.

PRINCETON. W. Va, March 4.
business men OF Princeton are pro-
noting a hosiery factory. A COM
pany Is being formed with a capital
stock of something near 500 900 to
equip and build a plant. II 10
planned to start the new establish.
nent with about 100 employees.
The Washington times., 1922-03-05
BUYS RIVER ISLAND.

PARKERSBURG, w. Va, March
4.-The o. v. Sand a Gravel com.
pany has purchased Neale's Island
in the Ohio river. near this city.
The Washington times., 1922-03-05
COMPLETING ICE PLANT.

wAYNESBoRo, Va. March A.
Rufus Hughes. manager Of the
Crystal Front Ice Company. Is
bringing his new ice plant near
completion. II In to be Of thirty.
ton Per day capacity.
The Washington times., 1922-03-05

Hence. obstruction to ciamoredfor
reform should not be carried too far,
II would be wiser TO err. at this
stage, on the side Of radicalism. be-
cause what may be viewed. by az
perts in the business, as radicalism
today, may tomorrow be discarded
by the public and politicians as being
altogether too mild. In this con-
nection events in Ireland. in Egypt,
in Germany, in Russia, in China and
elsewhere may we'll be called to mind
by those who are seeking to insure
conservatism.
(Copyrisht. 1917. BY d. @. Foroes.)
The Washington times., 1922-03-05
Cooperative League
In Receivers Hands
Had 43 Stores in Five States, But Could Not
Stand Competition.
BY GEORGE w. HINMAN.

CHICAGO March "A cooperative league the Pacific
coast has gone into the hands of receiver this week. 1t
had general stores in five States and an annual
business of millions It and is important organize
ton among cooperators listed in their textbooks and pam
phlets of the real cooperative in this
The Washington herald., 1922-03-26
Knife Falls in NeIUS
BOlULing Tournament

Fifty-nine bOwlers survived the
first round Of the newspaper elimina-
tion tournament at the Recreation
alleys. The knife fell at the 27S
mark These survivors will continue
in the second round Of the tourney,
which opens on Tuesday. Those who
felt the knife in the first round will
meet in another series known as
Section No. ..
\. W. Collier. of the Bulletin. cap
tured most OF the hOnors in the
first round and is leading for the
high set and every other prize ex-
cept the high fiat game. which went
to L. r. Miller. of the Star. with
81 r. F. C"Bubbles') Cahoon. of
the Times. last years champion.
trailed Collier for the top berth.
The schedule for Tuesday follows:
Section No. ALLEY No. 1. s. r.
white. q. Gimmen. W. C. DarnelI
AMI u T. Kodier. Alley No. .. c. w
Long. R Daniels. Ewell and e. Kolb
NnCy No. ;. G. Warren. R. d. Thorn
IS. ;. T. Miller and c. T. Burriss
Allev No. 4, r. f. Corwin. ]. Baum.
w. H. Easton and C l.. Malcomb
Section No. ALLEY No. Z. r. NJ.
RpclayeT. G. Gather. Ben CIouser
aud J. $. Films. Alley No. s. I. ].
Sengstack, A. G. Bauer. 6. L. Lynch
Snd w. Barber. Alley No. ., ]. ].
Fitzgerald II. II. Fry. s. NJ. Briscoe
r. s. Long. Gordon Shand. T. Gill
aud \ C. Nelson.
The Washington herald., 1922-03-26
Virginia Prepares
For Lynchburg Nine

CHARLOTTEVIL.E. Va. March
25.-Despite the cold winds which
prevailed the first part of the week.
Coach Jack Ryan has made a stren-
uous effort to whip a representa-
tive nine into shape for Virginia s
opening game with Lynchburg Col
lege Monday. The squad of over
fifty men, which had been report
ing daily for the past fortnight.
has been cut to thirty and from
this material the Washingtonian
expects to mould a team which
should be able to cope successfully
with the heavy schedule arranged
by Manager Hatcher.
The following compose the pres
ent team: Capt. Dunn, Harrison,
Mahood. Clark, Hubbard, Flournoy,
Rruns. Peach. Darlington. r. NJ.
Parrish. DIETRICH. Foster. Mccoy,
Gildersleeve. Sexton, Muse. Deal,
Bones. Archer. Holland. Carlyle,
Maphis, Tavenner, Watkins. Leh-
man. DeButts. Kemper and
Bronaugh
The Washington herald., 1922-03-26
Baltimore Y.M.C.A
Mat Artists Win
SA Championship
Winners Score in Five Bouts.
Washington Canoe Club
Second, With Pair of Vic.
tories-Chas. Havens Cap.
lures Feature Event.

BALTIMORE, Nd, March 25.-
Central Y. NJ. c. A. wrestlers of
Baltimore won five OF the eight
events in the South Atlantic Anna
teur Athletic Union championships
held here tonight.
washington Canoe Club came out
second best, with two. matches to
their credit, while the remaining
tussle fell TO the lot Of the yags-
bond Club.
Practically all of the matches
were close: in fact. so close that at
least two decisions met with a
great deal of disfavor among the
crowd. These were in the 145 and
158-pound clashes where Edward
Fenton of the 'Y" was awarded a
decision over Don Udall, of the
Washington Canoe Club. and Mike
ThaIborg. OF the ''Y." drew a verdict
over e. s. May, of Washington, un-
attached.
Both bouts required an additional
5-minute period over the regular
1O-minute time and were so evenly
divided that a draw was the best
anyone could have given. Neither
Fenton nor Thaiberg had anything
on their Washington opponents,
who gave az good as they took at
every turn.
The main go of the evening fea-
tured Charles w. Havens. of the
Washington Canoe Club, last years
unlimited champion. and Romolo
Sabbotini. of the Tank Center. Camp
Meade. the soldier succumbing after
s minutes and Is seconds of action
Summaries:
nla Inhn WnndS
Nagabond Club: won by decision
from Edward i. Goldberg. "Y." Time
Is minutes.
l15-pound class-Charles Bailey
"Y:" won by decision from Lelnard
Weinberg, unattached. Time. Is
minutes.
125-pound class-GeorEe Eareck-
son. ~" threw James Orman. Cal
laudet College. with arm lock and
chancery. Time, 2 minutes 40 sec
onds.
l35-pound class-Meade, of Wash
ington and Earickson. of Balti-
more; wrestled for 6 minutes. No
decision exhibition match).
l45-pound class-Edward Fenton
Y, NJ. c. A.: won by decision from
Don UdalI, Washington Canoe Club
Time. Is minutes.
I5S-pound class-Mike Thalberg
Y. NJ. c. A: won by decision from
E. S. May. Washington, unattached
Time. Is minutes.
175-pound class-Charles W. Ha'
vens. Washington Canoe Club;
threw Romolo Sabbotini. Tank Cen
ter. Camp Meade. with deadlock and
body hold. Time, minutes and l.
seconds.
Heavyweight unlimited - william
Havens. Washington Canoe Club
threw Norman Dellone. Doyle A. {.
with bar chancery. Time. minutes
and II seconds.