davidaulloa/AmericanStories huggingface dataset:
The Richmond palladium and sun-telegram., 1922-06-15
MODERNISTS TRYING
TO KEEP CONTROL OF
BAPTIST CONVENTION
fRr Associated Pressl

INDIANAPOLIS, June Is. Mar
shaling of forces by the fundamental
lists faction of the Northern Baptists,
in session here, to gain control of the
fifteenth annual convention was seen
today by the modenists, who are rally
ing their forces to keep control of the
convention within their ranks.
The fundamentalists at meeting
organized a steering" committee
which will have charge of all the res
olutions, nominations and other bust
ness presented to the convention by
their faction.
Modernists, at meeting, also organ
lied a committee to handle work pre-
sented by their delegates. The mod
ernists' committee is composed of DR..
.C. Wolfgand of New York, DIR. C. w.
Petty of Pittsburg, Pa; DR.. c. N. Ar
buckle of Newton, Mass, Layman Will
liam McKercher of Sioux City, Ia, and
Charles w. Gilkey of Chicago. The
fundamentalists declined to make pub
lie the names of their committee
The first fundamentalist victories
came yesterday when the nominations
of convention committeeman were or
dered printed and laid open to discus
sion on the floor of the convention,
when DR.. j. C.. Massee of Brooklyn
n. Y, succeeded in having his resolu
ton passed by the convention. The
day for the election of officers also
was changed on the motion of DR.
Massee. 1t was originally planned to
hold the election of officers on Mon
| day but this was changed to Friday OF
Saturday by the vote of the funda
mentalists.
According to DR.. Wolfgand the mod
ernists would not oppose a statement
! concerning the history of the Baptist
! church, while the fundamentalists be
! lieve that the convention should e
/ on record as favoring a creed or state
ment of faith for all Baptists
The Richmond palladium and sun-telegram., 1922-06-15
ASKS SPEEDY ACTION
ON MUSCLE SHOALS
(Bv Associated Press)

WASHINGTON, June 15.-An ap-
peal to Republican leaders to bring
in a special ruling by which speedy
action made be had on the proposals
of Henry Ford to develop the Muscles
shoals project in Alabama was made
+oday in a brief speech by Representa-
tive Aloman, Democrat, Alabama. He
declared the issue was clear with the
great masses of people appealing to
congress for acceptance of the offer,
on one side, and the fertilizer trust
and directive insiduous lobbyists and
other selfish interests on the other.
The Richmond palladium and sun-telegram., 1922-06-15
BREAK IN MINE WAGE
NEGOTIATIONS SEEMS
IRREPkRkBLE TODAY
(By Associated Press)


NEW YORK, June 15.-The break
in the wage scale negotiations between
the United Mine Workers and the an
thracite operators appeared irrepar-
able today as the union members pre-
pared to leave for their homes. That
the suspension of the hearings means
a strike was the opinion of both sides
Of the controversy.
There is no prospect of another
meeting between our people and the
operators" said Thomas Kennedy,
president of District No. of the
United Mine Workers at Hazleton,
Pa 81 am leaving for home today and
the other union men here will be gone
by tonight"
Mr.. Kennedy said the next move
was up to the coal operators but that
he did not expect any more proposals
from that end.
1--WE will await the outcome Of the
strike vote which VIII be completed
the 22nd of this month" Mr. Kennedy
added, "and report on the vote on the
Wilkesbarre on the 26th."
Between 100000 and 175,000 miners
are out now The strike of mainten-
ance men, 5000 of whom are on duty
protecting the mining properties,
would place millions Of dollars worth
of coal properties in jeopardy through
water seepage and other dangers.
| The union delegates at the meeting
yesterday refused to entertain a pro-
posal from the operators that the en-
tire wage controversy be submitted
! to arbitration of a committee ap-
! pointed by President Harding The
conference then adjourned without
] future date when the operators re-
fused to negotiate further except upon
! the arbitration basis.
CINCINNATI, o., June 15.-Assert
ing the Illinois coal operators had not
been treated fairly in negotiations
| looking to settlement of the coal strike
| Frank Harrington, president of the
| United Mine Workers of Illinois, in G
statement last night expressed the be
lief that mine owners of his state
would go along with any reasonable
plan for settlement of the strike" His
| statement followed receipt of a repor-
from Chicago stating that the Illinois
operators had refused to enter int
conference with operators of othel
states.
/ HARRISBURG, June 15.-Coal min
ers and operators of Pennsylvania ART
estimated to have lost S145, ,0S0, ,232 b,
the present coal strike in figure!
today by DR.. c. B. Connolly. state com
missioner of labor and industry afte
study of reports to the department.
mediation bureau.
The figures date from April /, ant
are from original sources. They ar
based on an average daily wage of s!
for each miner and an average cos
of maintaining the mines while idle t,
the operators of 100000 day count
ing 571a working days during April
May and June.
The Richmond palladium and sun-telegram., 1922-06-15
Committee to Complete
Fourth of July Plans

The general committee of the Fourth
of July celebration will meet Friday
noon in the Y NJ c. A. to complete
plans for the celebration. Every mem
Der is urged to be present.
'Rube" Dalroy visited several of the
neighboring towns Wednesday and
told theinhahitants of the big Fourth
of july celebration which will be held
in T11ehmond
The Richmond palladium and sun-telegram., 1922-06-15
Japanese Premier Pledges
To Work For Arms Cut
CBv Associated Press)

sabura Kato, Japan's new premier. to-
day pledged Japan to cooperate with
the world powers for a further reduc-
tion of armament and the mainte-
nance of peace furthered by the Wash
ington conference.
The Richmond palladium and sun-telegram., 1922-06-15
CUT DISCOUNT RATE
tBy AssociatAd P. ess,

LONDON, June 15.-The Bank of
England today lowered its discount
rate to three and one-half per cent, a
reduction of one-half per cent from
the figure established on May Is last
The Richmond palladium and sun-telegram., 1922-06-15
Walter F. Ward Indicted
For Staying of Peters

WHITE PLAINS, N. Y, June 15.-
Walter F. Ward, millionaire bakers
son, today was indicted by the West
Chester grand jury on a charge of
killing Clarence Peters, sailor, last
May.
The Richmond palladium and sun-telegram., 1922-06-15
CITY MANAGEMENT PLAN
Is DEFEATED AT pEPiI

PERU, Ind, June 15-The city-man-
agement form of government was de-
feated at an election held here yester-
day. The vote, as announced today,
was 2,413 to 371.
The Richmond palladium and sun-telegram., 1922-06-15
Weather Forecast
FOR RICHMOND AND VICINITY
RX W e. Moore


Unsettled and continued warm to-
night and Friday.
Conditions are favorable for local
thundersho howers. Barometric pres
sures being low over the plain states
indicates partly cloudy and unsettled
weather for the next 36 hours. High
temperatures will prevail.
Temperatures Yesterday.
Maximum 90
MINIMUM ................ o {
Today.
Weather Conditions = The warm
wave covers all the states east of the
Rocky mountains The hottest por-
ton of the United States is over Kan
sas and Nebraska, ranging from 81 to
104 degrees in the shade. 1t is consid-
erably cooler in the far west where
Temperatures range from AZ to 68 and
Flagstaff, AriZ., reports a minimum
temperature of "a. Local rains report
ed in the west and also over the mid
die Mississippi valley states and more
general rains over the Atlantic coast
and over Tennessee, Knoxville report.
ing LAO inches in "a hours. The
drought is very severe in Oklahoma
Nebraska, Kansas and Missouri.
For Indiana, by the United States
Weather Bureau - Partly cloudy to
night and Friday continued warm.
New-York tribune., 1922-11-26
-s1uasd,ass<ss,slaasaas..-,@
s-sAsessi<Assaaz5o.a-ant-,

/ resentatives Of the agrarian West to
effect changes in economic legislation,
the transportation act of, 1920 is bound
to come up for consideration. The
measure is not perfect, and can be
improved by amendment, as Secretary
! Hoover has Indicated. For example,
| the functions Of the Railway Labor
Board and the Interstate Commerce
Commission ought to be better CO. ordi-
| mated, if not definitely combined. How
ever, changes in the railroad law
ahould be made in scientific spirit
and out Of no blind passion to punish
the railroads. The time has definitely
/ come when the necessity of an ade-
quate railroad earning power ought to
be recognized. The transportation act
was departure In setting down the
will of Congress that the carriers
should be permitted to earn d fair re-
turn on their property value. The only
thinkable alternative TO roads with suf :
| ficient earning power under private
management would be government own
ership. The present system of control
potentially is adequate to prevent the
abuses to shippers which led Few
generations ago to profound anti-rail-
road feeling. The fundamental fea-
lures of the present law, especially in
regard TO IT'D effect on earning power,
seem sound and should be continued.
A system of starvation earnings for
the roads would tend to halt radically
their ability to serve the nation bust,
ness, which has already been limited
by the lack of growth in the last
decade, which Is IN turn result Of i'm
paired credit.
New-York tribune., 1922-11-26

Syenska Taendsticksastieboi con
troiIing the entire match Industry OF
sweden, has just announced the issue
Of 4b,o00,0o0 kronor in new stock.
whereby the total capital stock of the
concern will be raised from $4,000 GOO
TO s0,o09,o00 kronor, or about $4,000,
Ooo. Forty per cent of the new stock
VIII be placed in England through the
banking house of Higginson g. Co, and
the remainder will be placed in Sweden
The shares are to be sold at 20 per
cent above par, and it is expected that
they Will find almost immediate absorp-
ton. An important development IS
that the stock of the Swedish Match
Company will be sold on the London
Stock Exchange, thus signaling the
introduction of Swedish securities on
that market. This company dominates
the match market of the world, its
total sales during this year being esti
mated at about $l6,00,000. Fts export
Is steadily rising and now exceeds the
pre-war figure, in spite of the Jana
nese competition, which seems 10 ba
losing out against the Swedish in near
ly all countries.
By writing off huge losses Svenska
Handelsbanken Is now in q really solid
position. The original capital fund of
u,epO,0O0 kroncr has not bssn touched.
while the loses, totaling $4,000 ,Ooe
kroner caused by tho industrial
depression and the depreciation Of
securities held by the bank, have
nlade up, out of the reserve fund
and She last annual profit, leaving Is
balance Of 40,000,000 kronor still in
those assets Fresh capital of 40,00o.-
900 kronor is now being raised on bank
certificates, thus bringing the total as !
sets of the bank to fta q fy+,.s., !. .Aegxan
100000 kronor, or about s42. coo .ft,tl
This is said 10 be in exact proportion
TO the volnme Of business actually
transacted. This radical reconstruct
tion has been made after thorough in
vestigation by outside financial ex-
perts, among which is the leadinw
financicr, dr. Marcus Mallenberr. The
future activity Of the bank is now a,
sssolid foundation. ss
New-York tribune., 1922-11-26
Shift in sweden's U. S. Exports
shipments OF Wood Pulp Have Increased as News
print Trade Dropped; Our Takings
of Steel Products Less

epscsai foFeiea Finatcial Correspondence
STOCKHOLM, Nov. 11.-A remarkable
change in the relative proportions al
the various kinds OF Swedish Goods ex.
ported to the United States has taken
place during the last eight or nine
years, according 10 an article on the
new American tariff jast published by
the Association of Swedish Industries.
Thus, 81 per cent of the total export
to the United States is wood pulp and
20 per cent Is newsprint, compared with
O total of only about 40 per cent for
Doth OF these items nine wears ago.
On the other hand, American purchases
OF Swedish iron ore and manufactured
IRON and steel, not including sepagators
and ball bearings, have dwindled from
90 per cent OF the total nine years ago
TO about per cent now.
Since wood pulp and newsprint re-
main on the free list, shipments TO
America may be expected to continue
large Swedish cement, which is now
being exported to the United States in
increasing volume, will under che new
tar1H regulations carry duty Of about
l6 cents hundred KILOGRAMS; that ID.
9 duty equal to that imposed on cement
Imported TO Sweden
On Swedish mackerei, which lis ex-
pected to form an important export
item, duty of one cent pound will
be imposed, but this probably will not
be in any way restrictive. Swedish
high quality steel articles are not 90
favorably placed, the American import
duty having in several eases been more
than doubled. The duty on matches
also has been more than doubled,
which may have d serious effect on
swedish sales TO the United States.
During the immediate past the experts
to all countries hava been considerable,
The figure fer sentesnber Deips $4,000
csses. or .2I5,0o0,0o0 boxes, this being
about 40 per cent more than the corre
spending hgures fog 1913. Production
evidently ~ increasing, as a new match
factory is being started in the famous
old town Of Jonkor pg.
New-York tribune., 1922-11-26
Pure Oil's umphrey'sHoldinss

Pure Oil Company will receive ST.
567boo additional stock in the Hum
phreys Oil Company as result of a
75 per cen stock dividend declared bv
the later company on stock of record
November 80. payable December Is. In
addition, Pure Oil will receive 5 per
cent cash dividend payable on the same
date; This will increase the holdings
Of the Pure Oil Company in the Hun
phreys Oil Company to $s,657 500 par
value and as the stock dividend Just
declared will make the remainder of
the xsl5,000,000 authorized capital OF
ne humphreys Company outstanding
Pure Oils holdings will be equal to
24.3 per cent. The Humphreys Oil
Company had surplus after deprecia-
ion and depletion as Of September 80
Of approximately $13,300O00. For the
nine months the gain in surplus after
depreciation and depletion and ali
other charges amounted To 80 ai1o0 OOo
New-York tribune., 1922-11-26
by Merryle Stanley Rukeyser=

Mitchell tipped off the members of the
investment fraternity that French, Bel
gian and Scandinavian external dollar
bonds are at present, in his opinion,
sailing at lower prices than the credit
position of the countries justifies.
The presiding officer of the Bond
Club Rollin C. Bortle, of the National
City Company, -dramatized the unusual
situation Of introducing his chief. In
reporting on his efforts to get his
president to consent to have the lunch
con given in his honor, Mr.. Bortle
said, "Mr. Mitchell said, 4 suppose I'll
have to speak," To which Mr.. Bortle
testifies he replied: "If you desire to
speak. sir, the Bond Club will LISTEN
Mr.. Mitchell understands the value
of publicity, but dislikes public speak
ing himself. "There is no easier way
for man TO dig his grave than with
his tongue is an aphorism attributed
to Mr.. Mitchell.
The order of the United States Dis
trict Court for the sale next Tuesday
morning of the assets Of James w. Ell
liott's Business Builders, Inc, comes
after two and a half years of pictu-.
rescue efforts allegedly to humanize
finance.
Although such assets as list of
names Of stockholders, five pianos, an
tique furniture and art :, ks are list
ed. there will apparently be no attempt
TO realize on the original songs which
Business Builders statesmen sang at
the inspiritlng morning meetings az
New-York tribune., 1922-11-26
Along the Highways Of Finance

"A boND salesman confronted Gus,
: toner Unfortunately endowed with
che power to resist sales talk.
Finally the vender struck new line
Of appeal.
AS a service TO our customers. he
said, we have a woman keep record
OF stock quotations. She constantly
watches the market, and her comment
on it Is always Illuminating, he added.
This hint that stock market infor.
nation would be available appealed tc
the customer, and he said he would
like TO avail himself Of the privilege OF
getting the service.
"0h. just call the Office and ask 70,
the stock clerk remarked the sales
man triumphantgy.
The prospective customer called at
1910. The stock clerk he'd just gone
out 10 lunch and an Office boy was pinch
hitting in the task Of copying quota
tions from the ticker.
"How's the market asked the ex-
perimentai prospective customer.
The Office boy was nonpiussed.
Finally pulling himself together, he
suffered: "The market oh, the mar
ket's all right"
Our authority for the story is one
OF the senior officers Of the bond house.
Charles Z. Mitchell, in his first pub
lie address since his promotion to the
presidency Of the country's largest ma
tional bank, spoke before the members
OF the Bond Club on FRIDAY. Mr.. Nit
chell Is up from the ranks of bond
saiesmen and is. still very close in HIS
interests to security distributors. Mr..
New-York tribune., 1922-11-26
Brazilian Silk Mill Project

proposal has been made to the
Brazilian Ministry of Agriculture for
the establishment Of a. silk mill in
Barbaceca, in the State of Minas
by we'll known Arm in Lyon, France
and Rio de Janeiro, says Assistant
Trade Commissioner M. A. Cramer
The proposal involves the turning over
to the petitioner the state sericulture
station at Barbacena, in return for
which practical plan of culture of
mulberry trees, the twisting of thread
and the weaving of silk goods will be
carried out.
New-York tribune., 1922-11-26
s. Faces Cheap Money
Agitation, Say Economists
Need of Campaign TO Counteract
Fallacious Reasoning Play
ing ON Discomfort

HERE sver was time IN the history OF American when
deaon OF commodity and services were
out with full justice parties concerned Economists
n conscious that relative badly ont Of balance
81 goui have to closely cloistered place
OF the farmers contention getting more
terms OF dollars and commodity we'll and ba+ bs
geng Tess than he entitled 70 terms OF both
and things must buy If they are to
New-York tribune., 1922-11-26
Use of Statistics Grows
LIN Business Planning
Progress in Flattening Trade Curves
Expected to Result From Scien-
tific Compilations

GNTRENUOUS being
science To this end host professional
astcians working almost supply
with figures and charts which
s applied business particularly undoubtedly
has made great strides astw years.
New-York tribune., 1922-11-26

In such circumstances IL NAV bs wal,
that G stable monetary standard ia ~ a
most desirable in the world and that
the adoption of any other, or. indeed.
OF any standard which tends to pro-
mote or accept instability as q per-
manency will expose the community TO
suffering and loss.
Argument in favor OF any such svs-
tenn must in that case partake OF fhe
nature of faiiacy of the worst kind.
But X, on the other hand, an unstable
currency standard making for the re-
turn OF less or more wealth, as the
case may bos than was borrowed in the
first instance, tends to Offset the evils
OF an existing system of distribution.
then may 1t not be that he is nost
guilty Of fallaey who insists upon
stability as an essential quality in such
monetary standard? An affirmative
answer would seem to be indicated In
this case, and the most Fundamental
conclusion 80 be drawn is that since
money and banking are not In them
selves methods Of exchange which are
founded upon any immutable prin-
ciples, the desired thing about them
is that they shall conform to existing
systems of exchange and distribution
30 the end that they may introduce
into prevailing systems of she sort as
little disturbance as is practicable, and
may leave the underlying @issues of
production and distribution as clearly
cut as possible.
fherc is second general principle
in connection with money and banking
that may we'll be cited In this connec~
tion and out of whose disregard many
Of the ideas which we consider fall
lacious have from time to time de-
veioped. 1t is seen in the statement
that actions of legislative bodies In
changing the standard of money or the
methods Of banking cannot be relied
upon to change Fundamentally the will
OF the community In connection with
it's system OF exchange. This is some-
times BADLY put as statement that no
government can legisla*e money or that
fiat money is the most disturbing and
the worst of all forms of currency. Al
eli events, we may safely say that the
efforts OF Legislative bodies TO change
the habits and practices Of the COM
rnunity may be very effective in alter
ing the past distribution Of wealth
which grows out Of transactions al
ready closed, but that they are hardly
likely to bring about changes in meth
DDS of doing business or in transfer
ing goods or in fixing future standards
of payment and values which are dis
tasteful to the community. This may
be otherwise summed up in the state
ment that much law in connection with
money and banking is itself she most
serious kind Of fallacy, and chat In this
as in many other branches Of economic
life the sound and wise policy lie that
of keeping the hands Of the govern
nent as far off from commercial prac-
tice as may he.
New-York tribune., 1922-11-26

been Converted to statistics. "our
firm" he sold, "has been more than
ordinarily successful, but until re-
Gently we depended mainly upon what
we called sixth sense, a sort of
sensing Of future Developments in
business, to shape our policies. About
year ago, however, we began using
statistics and find that we can work
with much greater precision than we
did when We depended upon mere busi-
ness Judgment" I"
New-York tribune., 1922-11-26
p. & L. e. Net Advances

The October report of the Pittsburgh
q Lake Erie Railroad showed net
operating income Of 81 ,1ss 900, d gain
Of S879,00o over October, 1921.
PrTTsBURGfi q LAKE ERIE
New-York tribune., 1922-11-26

the headquarters in the Knicker erbocker I
Building.
A sample of the lyric creations which
appeared in the official songbook fol-
lows. The Jimmy of the song evident
ly refers to James w. Elliott, and Tom
and Mac to other executives. On with
the song:
Great old selling weather, and every
one on his toes,
With the heart and punch Of Jimmy,
to make our prospects close.
Pull, pull together, with Jimmy and
Tom and Mac,
Pull, pull together. from breakfast
to hell and back.
$50 don't forget TO remember, and
remember to forget!
The past is dead and buried, today
is your best bet!
Pull, pull together, with Jimmy and
Tom and Mae,
Pull, pull together, from breakfast
to he'll and back"
Christopher Morley, commander of
"The Bowling Green" in "The Even
ing Post" reminds The Tribune that
"a good deal Of our Ginger Cube cam
paign was Inspired by the glorious
antics" Of the Business Builders. We
take this opportunity publicly to recog-
nize the service the essayist has ron
dered in his comment on the philoso-
phic basis Of the Organization.
New-York tribune., 1922-11-26

visions contained In the plan failed to
meet with the approval of the gov
ernment as we'll as of some of the
security holders and the matter was
again thrown into the courts. On June
6. 1921, the company fled modified
plan, but this, while approved by the
court, was not approved in It's en-
tirety by Reading security holders. who
appealed to the Supreme Court A
year later the Supreme Court ordered
still further notifications and gave
the company until October 80, 1929. to
file new plan. The Intervention Of
the coal and railroad strikes delayed
the fling of the plan and up to the
time of writing its details had not
been announced
PHILADELPHIA READING RAILWAY
Growth of Revenues and Mileage
Gross Net after Tota,
Y ear. Revenue Taxes Inco,na
1912. S44.5O0 900 Sf8 900 oon s,a q m oan
'i922.. 100000 1890 600 zoo 900
nc INC -. SsYe 1863 t42%
New-York tribune., 1922-11-26

In connection with the efforts of rep