davidaulloa/AmericanStories huggingface dataset:
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

The Pi Kappa Alpha fraternity will en-
terrain the following guests at dinner
dance this evening: Misses Edna Brown.
Marjorie Newton, Olive Benning. Emile
Baca. Laura Francis Headon, Lula Moss
Robnctt. Eleanor Glenn. Isabella Sears.
Jerry Harper, Dove Mcintosh, Virginia
Boswell, Mrs. Kenneth Sears. and Mrs.
Francis Murrell.
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

Miss Florence E. Whittier. city editor
Of the lntelligencer. Mexico. Mo-. will
be the guest Sunday of Mr.. and Mrs.
Herbert Blumer.
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

Eleanor Nolpe and Daisy Sweeney were
dinner guests at the Alpha Phi house last
night.
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

The Alpha Delta Pi sorority had the
following guests at dinner yesterday cy-
ening: Fred Curlcy. Fred Anheuscr.
John Dalton, Robert WoodfiIl, Harold
Brooks, Cecil Mcintosh oi Ration. n. W..
Macnus Loewenthll. of Nansas CITY
and Mrs. G.. VI. Upton Of Bolivar. Mo.
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

DIR. Ida Bohanncn entertained with a
luncheon at the Daniel Boone Tavern YES.
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

Miss AdeliEe Quill is spending the
weekend at her home in 81. Louis.
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

Mr.. and Mrs. A. L. Ferguson motored
10 Sedalia this morning where they will
visit relatives They expect to return TO-
morrow evening
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

The ". c. T. L. will meet at 2:3O
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

The Alpha Kappa Kappa medical fra,
iernity will give a smoker for all pre-
medics Monday evening al the chapter
house, 100 Hit street.
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

spring, and is now connected with the
Crawford Loan & Abstract Co. of Seda-
liza. He is member of the Phi Delta
Theta fraternity. Monroe is a former
student Of the University. and for the
last three wears has attended the United
States Naval Academy al Annapolis. He
recently returned from the annual cruise,
and is now on leave of absence. He is
member Of the Beta Theta Pi fraternity.
Frances Haley of Louisiana, No.
former student in the University. is spend
ing the weekend with friends at the Pi
Beta Phi house.
Anna Lou Robertson has returned 10
her horne in Kansas City with her par
onts, who mOiored TO Columbia for her.
DIR. and Mrs. E. II. Smith. l4Oi Paris
road. entertained Mr. and Mrs. Morris
Dinwiddie and Mr. and Mrs Joel Carter
at dinner last night.
". ]. Pollard Of Kansas CITY arrived
in Columbia last night to enter the Uni
vcrsiiy. Pollard has been a student here
for two years. and is a member Of the
Kappa Alpha fraternity. He spent the
touring the northwest with the
Mayhall Stock Co. dramatic show. He
has been re-enEaged by the company for
next year. and will accompany them to
the western coast in the spring.
Miss laren Taylor OF Kansas City, is |
a guest at the Pi Beta Phi sorority house
his weekend.
The Alpha Kappa Kappa medical fra,
erniiy will give i smoker for all pre-
nedics Monday evening at the chapter
louse, 100 Hit street.
Mr.. and Mrs. 4. L. Ferguson motored
o Sedalia this morning where they will
isit relatives. They expect to return to-
norTow evening.
Miss Florence (. Whittier. city editor
( the lntelligencer. Mexico. Mo-. will
e the guest Sunday of Mr.. and Mrs.
lerbert Blumer. II
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

Frances Haley of Louisiana, No. Il
former student in the University. is spend
ing the weekend with friends at the Pi
Beta Phi house.
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

Miss Laren Taylor OF Kansas City, IS
a guest al the Pi Beta Phi sorority house
this weekend.
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

Anna Lou Robertson has returned 10
her home in Kansas City with her par
cnis. who moiored TO Columbia for her.
The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-09-16

DIR. and Mrs. E. H. Smith. l40i Paris
road. entertained Mr. and Mrs. Morris
Dinwiddie and Mr. and Mrs Joel Carter
at dinner last Night.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-31
ALTON OF RAILROADS TENDS TO KILL INITIATIVE

other ntcrgovornmental debts ar.
still! unsettled and arc contributing
their share 10 the arrangement OF
markets and the DISCRIMINATION OF
international trade
Enough forces are operating,
therefore. 10 maze up cautious IN -
ttmatiug tn" prospects FOR the future
and take car" lest We build on 4 false
basis. business in this country can
not progress indefinitely without l,E
Foreign markets and undue expau-
sion now. with rising costs and arti-
fetal values. would inevitable SOW
the seeds OF reaction and make more
difficult tho REIMBURSEMENT OF nor
NAL relationships abroad. To avoid
these pitfalls. We depend for tho most
part on the good sense and foresight
Of American business. Tho Treasury,
on its part. aims above all 20 keep
It's own house IN order be-
lievc that lc in other aclds we VIII
proceed with caution and with proper
regard for the distressed condition
OF Europe. 1t will DC possible To main
tain our prosperity on stable basis
Copyright. 1922. by y. Y. Evening
Post, Inc)
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-31

the railroads during the uast two
months in handling the abnormal
output OF the coal mines. az well as
the great crops. with the existing
equipment should make uE feel more
comfortable In regard to their abil-
ity TO meet whatever conditions may
arise In 1923. after taking into con-
alteration tho new equipment now
under contract and tho old equipment
that is rapidly being put through
the shops
do not regard consultations.
either in accordance with the tcnta-
tive plan OF the Interstatc Commerce
Commission or on any other basis
as being Of any benefit To tho rail
roads or To the country. The con-
solidation into larger systems Will
destroy the initiative In both ell
cheney and economy, Will remove the
executive OF tho roads 80 far from
the organization and people served
by the roads that he viii be abso-
lutely out OF touch OF details OF
management and operation. unable
TO know all Of his organization and
stan, and thus unable 10 improve
the morale and develop the loyalty
OF that staff. There can be no suc-
cessful operation OF q railroad with
out the real esprit de corps That
spirlt cannot be developed under the
system Of cancellations proposed by
tho commission. Naturallv. Consoli-
dations may come where ono system
can absorb the smalicr ono to secure
feeder OF n distributing agency
that VIII be beneficial to both, but
an artificial consolidation. as dis
cusssG in Washington. viii not bring
tho benefits or relief claimed by It's
advocates.
The problem that Is most pressing
at the present time In the transpor-
tat!on system is pence and relief
from congressional meddiing. The
transportation act has many good
features. Under II and the rulings
made by the Interstate Commerce
Commission the railroads can get
back some OF their old-,irne proaper-
ity, but they must be given the op-
nortunity for all executives and the
entire organization To devote their
entire energies To the operation Of
their roads. aud the development Of
increased facilities that viii bring
about Increased economies and cr-
uciency. Let the railroad manage
mcnts regain their vision. lc; the
railroads have sufficient income and
credit 10 provide means TO make i'm
prpvcmcnts have the government and
government agencies keep their hands
OFF. and the time life and pros.
perity Of the railroads Will promptly
return, competition will become eff
fect!ve. rates VIII b.. gradually re-
duccd and general business through
out tho country vii be good again
for number OF years
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-31

duction in the gross debt amounting
to about $l.000.000. 0O0 a balanced
budget for the fiscal year 1922.
showing Il surplus OF over 100000
600 above expenditures. and sub
stantial progress in the refunding of
the short-dated debt. which has now
been reduced to manageable proper
tons. These Developments are all
helpful and afford the basis for n
revival OF business and industry on
sound lines.
Elements OF Uncertainty.
There are. however. factors op-
Grating which contain elements Of
uncertainty and make It difficult to
determine the nature and extent of
ne revival which is in progress. Ow-
Ing TO tho restrictions on immigr a-
ton and the general resumption of
industrial activity the country is al
ready suffering from scarcity OF
labor which Is embarrassing some
lines OF business and leading TO
higher wage scales where lower
were expected a year or two ago.
The railroads are suffering from un-
nermaint"nance and Inadequate
equipment. and are finding 1t Diff
cult to move commodities to meet
the demands of business. with re-
and trade and dislocation OF prices.
AS consequence farm products are
selling too low at the farm and too
nigh at the distributing centers.
tnderma intcnance is affecting other
lines. and apparently is Itself the
underlying basis for much OF the
years activity.
AT tho same time the uncertain
state of Europe and the disorder OF
foreign currencies and the foreign
exchanges have impaired tho cor
receive forces, which used to Oper-
at in normal times. and have created
such unscttlement in foreign trade
and so reduced tho buying power OF
foreign countries as TO destroy or en-
danger the foreign markets for many
OF our products. This has tended to
Keep the prices OF agricultural pro-
ducts below the general level. while
rising costs OF manufacture. on the
other hand. are tending still further
to restrict foreign buying in our mar
kcts and threaten our ability TO com
pete with manufacturers abroad.
Preparations and indemnities and
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-31

pressed about Europe. Nobody could
help hut be.
DomcstIcaiiy. there Is still one bad
spot. and that Is the farmer. partlcu-
larly the grain farmer. Conditions
have improved Immensely in the last
year. even for him. The market for
agricultural products has been re-
stored TO 4 considerable extent. Corn
that was selling rs low az ls cents in
Western Nebraska a year ago is now
bringing from 81 TO co cents. and
tho sheep and cattle industries have
been considerably stabilized. The
relative disadvantage Of the agricul-
tural producer as compared to union
labor remains. however. az a seri-
Gus underlying unfavorable factor
But 1t rs held that the very prosper
ity Of labor. now fully employed. may
result In an increased consumption.
which Will in the end he OF great
benefit to the farmer.
Authorities Arc Optinistic.
ON the whole. capital authorities
are optimistic, though cautiously so.
People hereahouts have come to have
very considerable confidence in the
Judgment OF Secretary Mellon. and
here is the way he sized up the situ-
alton in his annual report:
The twelve months which have
passed since the last annual report
have been marked by further liQui-
dntion and recovery from depression.
and. more recently, by substantial
revival OF business. Prices of COM
modities have risen materially and
inventories generally ar. low, the
volume OF business has been mount
Ing to higher levels. and labor
throughout the country is again full
~ employed. The year Is closing
with hountiful crops. and the severe
depression In agriculture has been
relieved. Many OF the sections which
year or so ago were in preca-
rious condition are today working
out Of their difficulties and gradual
~ paying their debts.
"a few weak spots remain, but
banking conditions generally are
sound. money rates are reasonable
and there is sufficient credit avail
able to meet all legitimate demands
The waste OF war is being repaired
and even abroad there are signs of
progress In reconstruction. In the
Treasury the year has seen re-
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-31
TRAFFIC is AFFECTED
BUT LITTLE BY RATE
Railroads Have Not Had Full Year of Normal Condi.
tions TO Enable Them to Try Out Either
Rates Wages, Is Said.

do not expect any material
Chahses in either rates or wages dur
ihE the coming year. The present
ACTIVITY in general business shows
mat the rates have but little effect
upon the movement OF tranic when
there is Il demand for 1t. Certainly
rates should not be reduced while
wages remain as they are. Wages
cannot he reduced with the present
great demand FOR labor. The rail-
roads have not had u fun year OF
normal conditions to enable them
to try out either the rates or the
wages. and they should he let alone
80 as 10 have full opportunity to
demonstrate what they can do under
the present conditions,
While some changes might bc de-
sirab!e In tho transportation act Of
1920. I'm my judgment none whatever
should be made during the year 1929
until the railroads and the employees
nave settled down 10 normal condi-
lions and have had at least one
full year TO show what can actually
be accomplished under the present
act.
AZ far az ] have been able TO as
certain tho railroads have q normal
shop force that is rapidly becoming
normal In It's efficiency, and they arc
rapidly overcoming any deferred
maintenance in the equipment.
In my opinion, the physical condi-
ton OF the railroads at the present
time In very near 100 per cent o.
normal. 1t certainly will be normal
upon receipt Of new equipment for
which contracts have been made and
upon the return Of the crippled equip
mcnt sent To outsld" shops for over
hauling during the disorEanizcd con-
ditions In The shops. The records OF
car loading and car movement al,
show that tho railroads are handling
maximum traffic indicating the
good physiCal condition OF the rail-
!oads the present t!ms.
The Long Island Railroad will cx-
PEND on maintenance OF equipment
It's usual amount OF about $1,000. =
600 In addition TO which IL has con-
ractcd for new passenger cars,
motor cars. etc. and for locomotive.
TO tho extent OF about 32,5OG,oO /,
VIII also cNpcnd about 100000 for
rail
Tho Long Island Railroad will not
do any Nnanc!nE beyond the plac-
ing of small equipment trust. II the
railroads. generally are TO Keep pace
with the requirements Of tho country
they should cXpcnd not less than
55O0.0Qo.y0O FOR additions and better
mcnts in 1929.
do not see any Indication OF an
acute car shortage being Iikely 20
develop In 1923. provided we can
avoid serious labor troubles and have
no extraordinary changes In bust
ness conditions. Tho record made By
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-31
WASHINGTON SEES FEW
CLOUDS ON THE HORIZON
Congress, Radicals and Europe
Offer Possible Dangers
to Stability.
: REGARDED AS REMOTE
OmcInls' Attitude Not ns Dubious ~
Tint or Observation-Disclosures Fnrm
md Labor Conditions Also Are E1-
pccted 10 Result.
ny Harold Pheip. Stokes.

WASlIlNGTON, Dec. 29.-Europc.
Congress and tho radicals are the
only clouds on the business horizon.
in the capital view. Officials arc
disposed To think that these clouds
are not necessarily 40 Immediately
threatening as more pess!mlsticaily
inclined folk believe. The radicals
may not paint the town so rcd as
Wall Street expected after all Con-
gress cannot pass tho bonus-for
months 20 come. at any rate. Eu-
rope IL in bad way. and just At the
moment some OF its problems are
particularly acute. but IL is held that
even Europc's troubles are not com
pletcly subvcrs!ve Of our economic
prospects.
or course. you can't tell about
Congress The bonus ism, the only
mischief It can be about. 1t might
take 1t Into its head. for instance
to break the budget. though the in
dications are that il won't do any
thing so rash. II the ship subsidy
bill Is passed. an event which looks
unlikely just now, that legislation
might prove more costly than Presi-
dent Harding thinks. when the new
crowd gets in next spring or fail
.HeS "iBhl wei push program Of
taxation which would make Wall
street feel pretty sick-and business
generally.
Rural Credits Inv Certain.
But when II comes to the moro
pressing needs OF the Western farm
ers. OF whom the East is 80 fright
ened, 1t may turn out that they are
not such desperate fellows after all.
Or course. there are radicals among
them. and none OF them likes Wall
street very much. Undoubtedly.
there is danger OF asrarianism ngur-
ing In the coming campaign But
mat Is no excuse for New York bank
ers to feel faint when somebody
snys rural credits" Rural credits
are needed. They are going to come
what's more. even the mos conscr-
rative officials here, far from fear
ing such measures. welcome them.
provided they do not go too far
Everybody admits that conditions
IN Europe are real obstacle in the
way or our economic development.
and that our relations with Europe
political and commercial. are very
real factors i'll that development. ANY
expert will tell YOU that we can't
reaTh the goal or fun prosperity
with Europe in the mess sho is still
IN: But some experts here at least
VIII tell you that we can go n lot
further than we have gone so far.
even without Europe. Men like
Hoover are for tho moment more
cheerful over employment conditions
and the favorable present working
OF the business cycle than they arc
worried about tariff or dcpres.ed
about Europe. That doesn't mean to
say that they arc not mighty de-
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-31

rcau Of Foreign and Domestic
Commerce.
4 shipping depression. like typhoid
fever, must run its course. The
crisis OF the present one is passed.
but tho long Convalcsccncc mas Just
started As pointed out in the
Evening Posts annual financial re-
view two years ago. tho shipping
world cannot logically expect a pro-
nounCcd upward movement of rates
for many years TO come. The slight
malaisc Of tho Boer War period was
followed by rcaCtionary earnings for
eleven years. The present surplus
of tonnage over Immediate trade re-
quircmcnts Is much larger pcr-
centaSe OF the total than in the
Bocr War period, and In addition
there Is the great exhaustion OF pro-
ductivc processes in many countries.
Huge Ship Surplus Remains.
Nothing happened during the past
year to change materially the under
lying causes OF low ocean rates and
lower net earnings. The volume OF
overseas cargo at tho end OF tho year
Is approximately what it was at the
beginning OF the year; meanwhile.
the steam tonnage Of the world has
Increased further. Today there arc
approximately "uo-third more ships
than IN 1913. and these ships are
competing for only three tourthS 10
four hiths tho amount Of cargo
which moved in the earlier year. II
Is beside the point chat many snipr
on the register today. such as iron
vessels. those over twenty-five years
old. our own Lake" tyne. are not
fitted for commercial use. The world
survey OF the Department OF Com
h Il = M.
OF vessels on; of employment in tho
middle Of the year. This surplus
VIII continue TO hang as a threaten
ing cloud over the rate market.
Consequently tho outstanding
events Of Tho year in shipping, while
striking. arc not fundamental The
most widely discussed event. TO use
a cheSt"rton paradox. did not hap
pen At all Tho American shin sub
Sidv '"CiEi.ti0n Was passed hy tho
House ot Representatives on Eu-
Vcmoer 20. hut as yet puts no money
in the ship owners pocket: nor does
II DISTURB, except in anticipation, the
maritime enterprises OF other coun-
i tries. Or more import was the com
pletion OF postwar subsidy lcsis-
lation by France and Japan. and the
plain tendency away from general
navigation bountics and towards the
more logical and effective scheme of
ala 10 essential lines. As is TO he
expected in period of declining
rates, 1t was bad year for steam
snip conferences. and many disrup-
lions h1d rcaliGnmcnts took place.
me more fundamental changes of
me year were the continued increase
III tonnage, the falling OF rates. tho
dccline In shipbuiidns. the rapid in
|, crease In popularity of the motor
SNIP phenomenal development of
German shipping. and the striking
CROWN OF our micronesia trade
through the Panama Canal.
Whnt tho Subsidy CONCENTRATES.
On February 2S the ship subsidy
Dill. drawn by the experts called
together by the Shipping Board, was
introduced simultaneously in the
House and Senate. After 1t had been
referred to the proper committees of
both chambers. hearings were begun
ION April and were ended on May
- ----- a -.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-31

Since tho index numbers OF whole
sale prices here and abroad show
that prices are 80 per cent or more
above prc-Har. Il can be seen that
shipping Is worse off than industry
as whole. While some progress
vas made during the year In re-
duc!ng operating expenses. shipping
companies in general earned less
than IN 1921
After the war and postwar ac-
tivity the shipbulldinE industry has
fallen below its pre-war rate. de-
pressing situation in view OF the en-
!arged shipyard capacity Of oil
countries. on June 30. 1914. the
yards OF the world were constructing
2.si6,0o0 gross tons: on September
30. 1922. only 100000 tons The
average amount OF tonnage under
construction on September 80 from
1909 TO 1913 was 2,2o4000 tons. a
faircr figure with which to com
pare the latest results, because the
rise In freight rates in 1912 and 1913
wa. as spectacular as any tina, ever
occurred in normal times and the
resulting speculative building OF
ships inflated the 1914 figures. AS
at the outbreak OF the war. British
yards arc again building So per cent
OF the worlds tonnage. On Sep
TENDER 80, 1922. only I50.6o3 tons OF
vessels were being built in Amer
lean yards.
ship EnIucs mt Low.
Owing to a temporary increase In
the volume OF trade in the first half
OF 1872. rates rose slightly in tho
spring and tn" sales price OF ships
responded. Tho average price OF
twelve cargo vessels. 5000 10 10000
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-12-31
TONNAGE OF MOTOR SHIPS OVER
1000 GROSS TONS EACH ON JUNE 30

h'ion or tho Reardon Smith lines
mas caused break I'm the strong
transatlantic conference. These
changes can b" expected when n
scarcity Of cargo Causes the keen
competition which always exists in
shipping to take on cut-throat
character.
Worlds Tonnage Incrrnsrs.
Ihc worlds steam tonnage in
creased 100000 gross tons between
June 80. 1921. and June 80. 1922. The
most conspicuous gain was made by
Germany. as can be seen in the table
below:
STEAM AID MOTOR VESSELS.