davidaulloa/AmericanStories huggingface dataset:
Evening star., 1922-06-24
BY STUART p. WEST.

Special Dispatch 10 Tho Star.
NEW YORK, June 24.-The most
Significant happenings in the financial
reduction in New York Federal Re
serve Bank discount, the new high
records reached for certain of the
United States war loans and the con-
tinued weakness in the Eur ropean ex-
changes. The federal reserve action
had been long expected In fact. in
view OF the decline in outside money
rates and the lowering of the Eng
lish bank rate the week before, it
was quite overdue. While of no great
practical Importance. 1t had a de-
cided sentimental value as putting the
Endorsement of the highest American
banking authorities upon the com
pleteness Of the dehationary process
through which American industry has
been passing for the last twelve
months.
1t is anticipated that the regional
banks In other sections will follow the
lead of New York and subsequently
Boston, and reduce their official dis
count rates. But the situation in the
New York district Is particularly in
teresting in view of the expansion in
Wall street operations during the last
five months. The rise on the stock
exchange started about the middle OF
January. At that time the New York
banks belonging to the federal re-
serve had with their central IN
stitution rediscounts secured by
United States government obligations
amounting to $104,745.000. Roughly
this was the credit assistance which
the federal bank was giving to Wall
street
BY the end of the third week in
June this rediscount item stood a,
only $1S,327,o00 within a measurable
distance, that Is, of the vanishing
point. The meaning of this is that
the entire stock exchange campaign
since January, involving a very large
addition to Wall streets loan account
has been financed not only entirely
by the member banks without re-
course to the rediscount privile ges
but during the interval nearly $780,
600, 600 of previous borrowings at the
federal reserve bank were paid back
Speculation Fear \ Curb.
Herein lies the chief explanation why
the heads of the federal reserve, after
delaying so long. have finally brough,
the official discount down to the 4 pei
cent level, corresponding to the oper
market quotation on mercantile loans
They were manifestly afraid of moving
before, lest they give too much encour-
agenent to speculation. But now wher
it appears that this years Wall street
operations have entailed no strain what
ever upon federal reserve resources
have not even interfered with the liqui-
dation Of rediscount on Wall street
Evening star., 1922-06-24
COTTON MARKETS.

NEW YORK. June 24-The Gotten
market showed renewed weaknessiAt
the opening because OF continues
heavy liquidation. This was encour-
aged by prospects for good growing
weather in the south over Sunday
and after opening easy at decline OF
5 to 26 points active months soon
showed net losses OF IS to 81 points
with october selling of to zl.s5. The
bulk of the selling was attributed N
wire and commission houses btt
there was also selling for southetA
account, which helped to unsettle tie
tone of the market. Trade fntersSk
were moderate buyers on the decliHs
and there was scattered covering fef
over the week end, but otherwf
very little support was reported. ar,
Futures opened easy-July, N.5ps
October, 21.55; December, 21.3e; JanH.
ary. Ellis; March. BLOB sS
NEW ORLEANS, June 24.-Furthes
reports of good weather over the bot
and of continued improvement In thA
crop put the price of cotton lower too
day. the trading positions losing 4G
to 4s points in the first hour OF the
session, July fell off to 21.4o cents q.
pound. The weather map renectSd
dry and warm weather in all sectioht
of the belt and private reports IN
dicated that the plant was getting
the conditions it needed. y
+ Futures opened steady-July. I.S
October, 21.6e; December. BOTS: JaAS
uary, z0.69: March. zo.6o.
Evening star., 1922-06-24
FINANCE AND TRADE NOTES,

American Radiator declared Its
regular quarterly dividends of 81 a
share on common and $1.75 on pre-
ferred. Common dividend is payable
September 80 to stock of record Sep
tember is. Preferred payment viii
be made August Is to stock Of rec
ord August /.
British coal output for week end
Ing June 10 was 2.681.S 500 tons, which
Is the lowest amount for any week
since strike a year ago.
Regular quarterly dividend on Aus
TIN Nichols preferred of y per cent
to stock Of record July Is
1t Is announced that Maxwell Mo-
tor expects to turn out 100000 cars
next year. Tho company now has a
maximum capacity of $500 a month.
Production Of H. H. Franklin Man
ufacturing this month Is running so
per cent better than in any previous
June. Practically the entire output
OF tho factory up to August 1 is sold.
Columbia Gas and Electric declared
Its regular quarterly dividend of $1.5O
payable August Is to stock of rec
ord July 81.
New York Central gross revenue
for May was about per cent under
those for May last year. Traffic has
been steadily expanding, except in
coal.
Corn Products big plant at Edge
water, N J., has resumed operations
after q shutdown.
Offering Of equipment trust GER
tidcAtes Of the Chicago, Milwaukee
and St. Paul were heavily oversub-
soTibed.
Cities Service announces q plan for
payment Of dividends in cash on pre-
fsrrsd. beginning September l. and
on preference B shares beginning
October 1. and for redemption Of
scrip issued for those stocks
Public Service Of New Jersey for
earnings Of Subsidiaries Of $76 6.o67.s74,
Z gain Of 47S1,3S3 over previous year.
Nash Motors has declared a divi-
dend Of 80 . share on common, pay
able August ! to stock Of record
July 20. A dividend Of SO was paid
on common February l last
Illinois Central car loadings for
first half Of Juno were 8S,S4S cars,
compared with s4.50s for first half of
May.
Crude oil production for week
barrels daily. q decrease of 1a,4oo
Warner Sugar Refining has ad-
vanced the price Of refined 20 points
to .o620 pound and continues with
drawing from market
Evening star., 1922-06-24
LOWERING OF BANK RATE
i IS STOCK MARKET STIMULANT
Inquiry Reveals, However, That Wall
Street Operations for Five Months Have
Not Depended on Federal Assistance.

transactions, the need for such extreme
caution no longer exists.
Reduction Of federal reserve discount
acted as a stimulant to the investment
market But the effect was more ap-
parent In government bonds than it was
in corporate securities. All United States
war loans drew well across par some
of them reached higher prices than any
hitherto touched, the reason being that
a discount rate of 4 per cent auto
matically places a premium upon 4A
per cent security constituting the ac-
cepted collateral for rediscounts.
The rest of the investment market, so
far at least, has been slow to follow the
advance in liberties.
Grain Buying Affects Exchanges.
The action of the foreign exchange
market is fairly intelligible. In all
probability the recent advance in sterling
to $4.51 was in part brought about by
overspeculation, which had to be cor
rected by the subsequent decline. But
this advance at the same time had the
effect of acceierating preparations to
finance European purchases later on OF
American grain and cotton. The in
creased supply of exchange drafts
drawn against these purchases is mainly
responsible for the break of the last ten
days. :.
With continental exchange condi-
tions are different. French rates are
down to the lowest since January,
and German rates are practically at
their very lowest The decline has
been persistent and almost continu-
Gus since the failure of the German
loan project
yield a jot to the representations of
the rest of the world, which would
have made possible solution OF the
German indemnity problem through
the grant of an international loan.
and the result has been-as even
most fervid French nationalists must
sea steady and rapid depreciation
in the credit of France as measured
in the exchange value of her cur
rency.
Mexican Petc's Rise.
The stock market of the week on
the whole has been unim portant, save
for the sensational episode of MeXi-
can Petroleum, with its 56-point ad-
vance. The best opinion is that II
there has been corner in this stock
it has been an incidental corner
brought about by real absorption OF
the small outstanding supply by peo-
pie familiar with the Importance OF
the recent oil discoveries in the COM
panyS territory.
Whether this is or Is not the true
version, the stock exchange investi-
cation will quite possibly determine
In the meantime. the general market
having completed during the frs,
fortnight of June the readjustme n
called for after the extreme specu-
settled down into period of quiet
quite characteristic at this season OF
the year. where there is little sus-
tanned tendency in either one direc-
tion or the other.
Copyright, 1927
Evening star., 1922-06-24
RuMoRED RAIL MERGER.
ROCHESTER,. N. T.. June ~

ROCHESTER,. N. T.. June Att
was reported in railroad and financial
circles here today that a movement
was on foot to combine the Buffalo.
Rochester and Pittsburgh railroad
with the western Maryland, the
Wheeling and Lake Erie and the
Toledo, st. Louis & Western railroads.
to make a system S.401 miles In
length, The new system would be
headed by John D. Rockefeller. jr.. ae-
runs from Rochester. Buffalo to Pitts
burgh, owns S6S miles and operates
SOS miles. The Western Maryland
owns 453 miles Of track and operates
7s7 miles through Maryland and West
Western owns 449 miles and operates
i5l miles, and controls the Chicago
and Alton road. The wheeling and
Lake Erie road operates 6ll miles Of
track Of which 1t owns 479 miles.
Evening star., 1922-06-24
INDUSTRIAL NOTES.

Plumbing supplies are active. says
jobber. A brass faucet nozzle on
a swivel for use over sinks was In
troduced about a year ago and has
Cast-iron soil pipe has advanced Ban
per cent within three months
Shirt business Is somewhat quiet
due to weather conditions. The CHIEF
demand is for the collar-ateached
shirt A novelty white shirt with
black stitching. good for sport OF
street wear, which went on the mar
ket a few weeks ago, has taken SC
we'll that mills are already back on
their delivery.
Worsted yarn business has In
creased with the knitting trade, with
prospects for continuing good for
two or three months. There are in
up to the supply. Yarns are going
to the dyehouse as fast as spun
Large retailers. buying direct from
the mills, will not come into the mar
ket until after July 4.
Dress manufacturers continue busy
and expect the present rush to last
we'll into July. A good percentage
Of the output is voile and linen goods
the demand for linen dresses being
much better than for many years
Prospects for fall business are prom
ising.
Wooden yarn for the knitting trade
is moving freely for the sweater
fall supplies. Jobbers were late in
placing their orders and this will
push the mills hard to get deliveries
on time. This is keeping the spinners
busy.
Mohair yarn requirements continue
in good volume and the trade wants
immediate delivery. These yarns are
fnfn RWARfHFA. The
trade feels that mohair will sell
"one Of tho great dimoultiss 70,
paperhangers IL the insistenoe that
repair work be done in August" saya
one dealer. business Is good. bu!
work of contractors. Pretty soon
expect builders. having finished con-
struction of houses. will be eager g
have the rooms papered and Will
begin bidding against one another to
have tho work DONE"
Dealers in engineering and archi:
tectural supplies report activity. Steel
mills. railroad and private machine
shops and road builders are largest
consumers. One distributor says Ger
man drawing instruments still pre-
dominate because of low price and
high quality.
Cleaners and dyers are doing q
STEADY BcdoOuAl Ouulucoo. 0VIcIS udNe
sent sizable quantities of carpets
blankets and portierea Dying OF
oyer-the-counter goods also Is steady
and consists principally Of mems and
women's lightweight apparel.
A dealer In electrical supplies at
tributes his present good volume OF
sales to house, building activity. The
strike has had little effect ON his
business in coal regions. Many new
houses were started there before the
strike, and builders are obliged to
complete their work during open
weather.
High profits from German nanufac.
lures are past. says an importer OF
toys. Uncertainty Of cost bewilders
American buyers. The custom of is-
suing quotations and then changing
the price on delivery of the goods
has become common, this importer
explains. He cites q manufacturer
who quoted paper novelties = few
months ago at $40 marks q gross
When the importer wrote to buy
some. the German maker replied that
the price had advanced "2800 per
cent and other increases are occur
ring daily"
Evening star., 1922-06-24
June 20 July ]
GARMENT TRADING BETTER.

NEW YORK, June 24.-Encourag-
Ing reports from statesmen are being
received by cloak and suit manufac-
turers. Retailers are not buying
heavily, but they seem to have be-
gun to order goods to cover their
probable requirements over a longer
period than formerly Probability of
higher prices has acted 10 stimulate
buying Retailers are ordering more
freely in anticipation OF advances in
values. With the turn of the month
buying is expected to increase ma
terially. In the opinion of leading
manufacturer retailers are going to
buy the better grade garments to a
greater extent than they have in the
last year or two.
Evening star., 1922-06-24
RAW FUR TENDS HIGHER.

NEW YORK, June 24.-Prices In
raw fur and skin market are showing
an upward trend according to leading
fur merchants. Already advances In
values of desirable descriptions nave
been oted the last few weeks. Buy
ers of raccoon and skunk find Market
for these items slightly higher than
that Of a week ago. because OF re.
ported scarcity. A dearth OF opos-
sum. together with the relatively
higher price, has caused many buyegs
to center their attention on skunE
The Increased demand for skunk 70
said to have almost used up the sup
Div on hand. A small but steady de-
mand for furs for cloak trimming
nmrnoses persists. Caracals. beaver&
Australian opossum, wolves and foxes
are in active demand for dress eiAs
bellishment Manufacturing fuf-iefs
are buying Hudson seal. rsceoen,
skunk, beaver and muskrat.
Evening star., 1922-06-24
HOLDS CANAL RECORD.

cargo ever carried through the Panama
canal was landed here few days ago
by the Bethore, one Of tho high COM
binetion ore and oil carriers recently
completed by Bethlehem shipbuilding
for Ore Steamship. to be used In car
sy,ng ore tpom oant cIua nd nnae' rance En,is 70
Bethlehem Steel. On the voyage she
lifted 10000 tons through the water
way, the previous record being 49,
76s tons, held by the steamer Orca.
At the time the Bethore was drawing
thirty-two feet six inches.
Evening star., 1922-06-24
WOOL MARKET SLOW.
Holding-o6 Tendency Seen in Bos-
ton Trading.

BOSTON, June ~ tspsciaD Trad
inr in the raw wool market today
rejected the tendency Of manufactur-
ers to kold OF for the time being.
prices wefe soft except for the higher
grade wo0ls and carpet wools, which
continued in excellent demand, with
prices arm.
Msrinos were strong In London. but
the tendency In the west was toward
slightly lower prioeA This caused
withdrawal Of some tar western wools
from sale. n
Evening star., 1922-06-24

die west ID strong and growing, ana
prices are advancing.
MINNEAPOLIS, June "a (Special).-
Makers Of shoes here are making strong
competition from other sections. De-
mand 10 fair and good orders for future
delivery are being booked.
YOUNGSTOWN, Ohio, June "a (Spe-
ciaO sharon Steel Hoop will start its
Mary furnace at Lowellville within a
few days The stack has been idle for
several months.
PITTSBURGH. June "a Especially
With mills operating practically at Ca
pacity 1t ts nearly impossible to supply
the demand for sheet steel, orders from
the automobile trade and construction
age Of heet bars are In evidence. due to
the limited supply Of coal and coke.
Shirts.
TROY N. r, June % Especially
Shirt manufacturers are making good
deal out Of the Idea Of a top shirt and
drawers in ono for the man golfer.
Usually these have half-length sleeves.
PHILADELPHIA, June "a (specia)
intensified advertising campaigns are
bringing excellent results to local cigar
manufacturers. One maker who has
has just bought a new plant, so that his
output will be 100000 cigars day.
Hats.
DECATUR. ILL.,, ~',ne "a (Special) -
Hat dealers here ' decided to with
nold cut prices aw hats until at
least August /. t h. been customary
| in this city to begin s, aw hat cut price
sales July l.
| Coal.
| ALTOONA, Pa, June "a Especially -
Coal production is gradually increasing
IN the central Pennsylvania field. ac-
| cording to figures offered by Central
Coal Association: During week ended
June II car loading reached 3,577, an
week and an increase of "A over the
record for the June 3 week.
| WILKES BARRE, June "a Especially.
Goal operators throughout the an
thracite fields have been sold and
| resold strike breakers at SIS a head
| by alleged employment agents. Two
such agents collected s2.50O for Sc
! curing men. many of whom had never
| seen q coal mine. Operators found
that the mon only stayed a day or
| two and on comparing notes found
these men were waited back and
forth between the different mines
with IS collected every time they
were hired.
SAN FRANCISCO, June "a (special). }.
I-What unemployment is in evidence
In this district Is chiefly In the metal
| trades, the smaller manufactures
and shipping. The increase in ac-
tivity In new oil areas Is providing
considerable employment
Evening star., 1922-06-24
mar silver Quotatse.s.

NEW YORK. June 24.-Foreign bar
silver, TON; Mexican dollars. 6sx.
LONDON, June 24.-Bar silver. 3SXd
per ounce. Money Is pence. Dis
count rate, short and three months
bills, 2Ha2M per cent.
Evening star., 1922-06-24
NEW YORK BANK STATEMENT.

NEW YORK. June 24.-The actual
condition Of clearing house banks ana
trust companies for the week shows
deficit in~reserve of S3.625,20o.
Evening star., 1922-06-24
DIVIDENDS.

Stock Of Pay
record. able.
Asbestos Corp, g, pfd. s1.75.J July 1 July Is
Chase Mills, q. 81. So. June % July /
d. G.; Health Co., O.. pf., \
Indiana Pipe Line. q, So. July IS Aug. is
Kerr Lake Mines. Ltd, q.
Maple Leaf Milling Co, a, 50 July July Is
Mexican Eagle Oil Co. pfd,
Mexican Eagle OH Co.. 1876. ...... - @ ..:...'
Stoyer Mfg. & Eng. c.. q.
~ .:....... June 20 July /
Steel Co. Of Canada, q, pfd
$1.75 .-..:............... July s Aug 1
Steel Co. of Canada, q, 81. rs July s Aug.
U. s. Mortgage & Trust Co.,
q. II June 20 July I
York Railways Co., ini. Soc. July 8 July Is
York Railways Co. pfd, q,
$l.2o June 20 June 30
Evening star., 1922-06-24
BehinA In Deliveries.
Commodity Reports
From Various Sections
LMlAsaA

SAN FRANCIoCo. June - Especially. }.
New orders are running far beyond
production IN the California lumber
mills. Demand from the west and mid
Evening star., 1922-06-24
GENERAL TREND OF BUSINESS
REPORTED TOWARD NORMALCY
Most Imminent Bar to Prosperity From
Men Who Are Voluntarily Idle or
Are Inclined That Way.

die west ID strong and growing, and
prices are advancing.
Evening star., 1922-06-24
FOREIGN EXCHANGE.

touotations furnished by W. B. Hibbs 4 ca
Evening star., 1922-06-24

American Radiator declared Its
regular quarterly dividends Of 81
share on common and $175 on pre-
ferred. Common dividend is payable
September 80 to stock of record Sep
tember Is. Preferred payment viii
be made August Is to stock of rec
ord August /.
Evening star., 1922-06-24

British coal output for week end
Ing June 10 was 2.6s1.s00 tons, which
ts the lowest amount for any week
since strike year ago.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-05-15
EIGHT LABOR HEADS
ASKHABEASCORPUS
Move Made to Obtain Bail for
Chicago Agitators Charged
With Murder
STATE MUST SHOW HAND

Chieaeo, May 15.-Eisht labor men
indicted on murder charges in eonnec-
tion with Chicago's labsr war will have
preliminary hearings today before
Kiahham Seaman. Chief Justice Of the
Criminal Courts.
Their attorneys have been instructed
to ssk for hebeas corpus writs. Thus
fbrcine the State, 10 II wishes to bold
thsm without bail, to produr evidence
upon which hanging verdicts are TO be
asked for the big three" labor leaders,
big Tim Murphy, head Of tAe Gas
Mo,iss workers Union; Con Shea: OF
the Teamstsrs' Union. and Frsd Ma
der. PRESIDENT Of the Chicaso buiidins
Trades Council. To support tnsir
demand for release on bail the
labor leaders viii be represented by a
strong aeray Of legal taient.
For this psrpose., It is allesed by
Harry Barrett Chamberlain, OF the Uni.
caso Crime Commission. the labor men
are equipsed with million n'dofinr
"s'uah fund. -
Evidence Ensneh. Police Dseaase
Police and States attorneys connected
with the case assert they have sumcient
evidence to warrant continued confine-
mcnt Of the indicted men without bail.
1--WE have established that those
ova,nst whom murder indictments havo
bcen lodged actually engaged in a con :
sniracy TO commit crimes out Of which
kiiiinss occurred" Mr.. Chamberlain
said. "Wc have three astounding con-
fessdons."
ALLEGED tactics employed By Fred
Nader In obtaining the presidency Of the
Rni,dins Trades Council were barred to-
day by members Of that organisation.
Who asserted that many members, said
TO be antayonistic to Nader, were kept
avsy by sluggsrs from the meeting at
which he wss elected. Fewer than one.
third OF the members Of the organisa.
t;on were present when Nader was
elected. they allese. They have not
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-05-15
EuGENIE BLAIR
EUGENE BLAIR IS DEAD;
LED STOCK COMPANY
Collapsed at Stage Entrance In CHI
csoo Theatre

caeo Theatre
Eugenie blair. former leading woman
of the old Forcpaush Stock Company
and Il warm favorltc in this city. Is
dead. Word of her death was received
here today from Chicago and caused
sincere regret among many who knew
her in theatrical circles.
Misc Blair was portraying a char
actcr ro,c in Anna Christie. playing ut
the Court Theatre. Although suffering
severe pain. she insisted on appearing
on Saturday night. At the end of the
second act she collapsed in one Of tn"
stage entrances and died after being
carried to her dressing room.
In addition to playing with tn"
Forepaugh company. Miss Blair sub
se0uently appeared in stock at the
Girard Avenue Theatre and also for II
short season at the Walnut Street The
atre about ten years ago. Her last ap-
l"arancc in this city was made at the
Adelrhi Theatre three years ago
Miss Blair first attracted attention
as leading woman for Robert Downing,
t,ngcdian. who was popular about
twenty five years ago. She married
downing. bnt was divorced in 1912.
She is survived by daughter, Eleanor
Montcll.
George Fish. Of the Globe Ticke,
Company, who was manager Of the
Forcpaugh Stock Company. said toda,
that Miss Blair was ono of the mos,
popular stock leading women who ever
played 1T is just like her to stick t.
work in the shadow Of death" he said
She was wholly wrapped up in hel
work and. best of nll. was never
affected by temperament
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-05-15
Cr0un May Wait
for Visit to y. S.
Continued from Pase One

Continued from PaEe One
said, 7 need you; my country needs
you. Will you come and help u.s.
That simple, frank plea won her heart.
"The young Kings mother died when
he was four years old. and he never
has known family life. Now he Is happy
Mt The prospects Of building up home
with my daughter, for whose family
he has developed an attachment equal
to her own"
Queen Marie said she often smiled at
the position she had been forced into by
the circumstance that she was the
queen mother. In law of the Balkans.
Il can assure you," the Queen added,
laughingly, II am very lcnient
mother in law, and not the traditional
termagant. The three children I have
given the thrones Of Greece, Rumania
and Jugo Siavia are supremely happy
with their choices. All are bound to
get on we'll together. and II VIC have
such peace and contentment in our
family life, why cant we have it as
political and geographical neighbors
Whatever else may be criticized for
l won't be blamed for my efforts n,
bringing about peace and harmony in
the Balkans