davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-01-01

vet been announced b. the board. This
has been due. according to officials, to
.hc certainty that no prices could be
obtained a present which would return
20 the government what they consider
would be reasonable sum. With thou
sands of vessels tied up throughout the
world there has been practically no
market for ships. The board. within
the last few weeks, has resolved to test
conditions. Twenty eight ships have
been adve rtised for sale under com
ro'i,ivc hias to he opened the last 0.
this month. This development Is
awaited with considerable interest BY
steamship men as an indication OF the
existing situation.
The Shipping Board still faces a
great problem in the liquidation of the
war program, which involves a settle
ment Of claims for Cancelled contracts
and reouisi-ioned Sims. In an official
statement fled with the Senate it was
said that on the first of October the
board had s7S.e3O000 with which to
meet it's outstanding indebtedness. On
the same date it faced 1888 unpaid
claims, amounting to 1921 633 600,
which had not been investigated. No
attempt has been made to estimate the
amount Of offsets through counter
ella inns that are deductib,e.
The present status of the American
merchant marine has been outlined in
the annual report of the Bureau OF
Navigation, which shows thst the gros s
tonnage OF ships registered for toreign
trade is nearly eleven times greater
than in 1914. Almost one-third of the
vessels operating in the overseas trade
Of the world are American at present,
as compared with scarcely per cent
Of the total in 1914. The salient
changes in our merchant. marine dur
ing the last seven years sre outlined
New-York tribune., 1922-01-01
MomenfOus Decision

1t was no simple matter to close
down the copper mines Of the country
IL was momentous de sion. carefully
thought out. and carried into effect
with the greatest reluctance. Il meant
loss of employment to thousands OF
men for an indefinite period. A ass
Of men. unfortunately. who are least
able TO stand up against such reverse-.
Many Of the mel thus thrown out
employment had spent thor lives in
the copper regions. had built their
homes and raised THEN families the-e
If there had been any possible wy n
avert the situation il would have been
followed, but there was not
There had 10 be shutdown = .he
peculiar conditions facing the copper
industry were to be met. Copper and
brass found themselves almost entirely
supplanted at the close Of the war. not
through any fault Of their OWL or
through any loss in merit OF reputs
tion, but solely because their nerd in
munitions forced them out Of com
merce for several years. and then sen.
them back heavily stocked with eNpen-
sivelv produced metal 10 bate With the
substitutes which had invaded their
fields while they were IN war service
Very naturally. the copper industry is
LOOKING for an expansion OF us domestic
markets pending the time when Europe
is again in position = take its share
OF American copper. We are not at nil
pessimistic about the future. We not
only feel that our own country is ap-
proaching its normal condition. with
great building and electrical enter
prises to be und0rteken but we feel
that Europe will in time work out its
problems and once more enter the
American market for its share of the
copper which it must have if its nat
ura needs are 70 be taken care OF.
New-York tribune., 1922-01-01

inc experience or copper and its
products during these trying years may
be ,aid to DC typical Of the sor. Of
battles our American leaders Of in
dustry have had to Gght Copper aad
its chief alloys, brass ard bronze. act
uAiy are essentials, yet their develo
ment ovcr the twenty-;ive-vear period,
beginning wiki 1895, brought abou. al.
investment Of capital in mining prop
critics that could not possibly earn a
decent living for itself without
steady maintenance Of foreign demand
Even if domestic consumption had
speedily returned to normal. which It
did not. there still would have been
grave prob.ems to face. because il must
be KEEP in mind that you cannot work
great mining prope rites on frag-
mcntary basis without 50 greatly in
creasing the cost Of production that II
IS not possible TO market your meta
at a profit.
The copper industry is not a CHART
able institution. Neither is it mendi =
cant. Having plenty of copper m a
refined state for any domestic or for
eign demand that was likely to mate
rializc, it closed most of the mines, and
to-day only few properties actually
arc operating. How soon the mines
vii! again open Is question I shai
that must be carefully studied, keeping
in mind the thought that il reopen
;ng of the vast producing prone TT ? $
anticipates demand. which later fails
to manifest itself. the industry il in
danger of again creating the very CON
dltlon that IT has been wrestling with
for the asst three yeare
New-York tribune., 1922-01-01
large Potential Demand

In're is an enormous potential de-
mand throughout tho world for steel
products 70 provide for much necos-
sary and long delayed construction
work. With the correction Of these
specific factors in our domestic situ-
alton to which | have referred. and
With the gradual Improvement in gen
oral world conditions which is now
'akirg place. we have every right to
took forward optm stically toward a
long neliod of sustained prosperity.
The elements Of the situation ia
which have referred as not yet being.
in harmony with conditions necessary
for sound and healthy revival will.
believe, be gradually corrected. !
should exnect to see the result reflect
ed IN thc snrng Of 1922: not in an cx-
aggcrated torn il would be a mistake
if that should take place but at lea st
IL turn for the better, followed by a
gradual. wholesome. substantial return
to sound prosperity.
New-York tribune., 1922-01-01
transportation loo2S One of Years Important Problems
Shipping Industry Look
ing to 1922 With Great
Enthusiasm as Year Of
Greatest Depression i'm
Trade Draws to a Close

mn ELIENlNG in the theory that
m the darkest hous comes just
~ before dawn. the shipping in
dustry at The end Of 1921 is looking
TO the new year with greater opti-
mlsm. There is general feeling
that shipping has been thoroughly
liquidated, except in one or two mat
tets, and that the future trend will
bc upward. The last year will be re-
membered as marking perhaps the
greatest depression ever seen in
ocean transportatio Stimulated by
an abnormal demand for goods
abroad and high profits, the two
years following the armisticc brought
great prosperity and an unprece-
lented increase in tonnage.
Last year. accordingly, found foreign
commerce dwindlin: while the volume
OF shipping was unusually large Many
companies which grew up during the
war were revcling in huge profits and
had disregardcd warnings for economy
THE intervening twelve months have
Of weakly organized steamship com
panies. AS an instance OF this, the
number Of concerns handling govern
ment vessels has decreased from l73.
d, tho maximum, TO 43 st present.
Office, forces have beer cut down, in
efficient ships have been tied up, and
the industry generally is on a soundcr
basis.
The shipping companies which have
weathered the storm are largely thos Q
Of previous experience. They arc now
stripped TO keen competitive basis,
and are looking forward with rc-
newed confidence. There are sever"!
reasons for this. Foremost is the
aid to Offset the higher cost of opera
tior under the United States flag, es-
pccially with regard to wages and the
fixed charges growing out Of higher
costs Of construction. Another is the
fact that low freight rates, which are
now generally below the cost Of opera
tion. have eliminated much Of the COM
petition that existed a year ago. The
recent rise in foreign exchange has
created hope OF a revival in export
trade The Shipping Board has placed
the government ships in charge of
practical steamship men, who are work
ing in the interest Of private shipping
AS we'll as that Of the government fleet.
A considerable part of the cheerful
ness that is evident just now is due
TO the recent statements of President
Harding and Chairman Lasker that the
government will stand behind the mer-
chant marine in efforts to esta ablsh
American shipping permanently on the
seas.
A review Of the past year shows a
return toward normal in practically
every phase CT operating costs. Food
stuEs. fuel, supplies of all kinds, and
repairs have taken substantial drop.
Wages also have hecn cut - per cent
III the official scale, and considerably
New-York tribune., 1922-01-01
Not Orerproduciion

This condition has been referred to
from time TO tinc As one of over
production. Actually it is q condition
OF under-consunlption, in part brought
about in this country By she substi-
tuition of cheaper metals and mater;a Is
during tho war period, when copp.-.
brass ana bronze were not = be had
for commercial purposes, and II El-
rope By q lack Of funds wae~exith TO
uation il steadily improving. Slowly
but surely copper. brass. bronze and
copper products generally are coming
back into their own. Europe will buy
when Europe has money. Meanwhile,
as Is well known. the copper producing 2
interests. through the agency of the
Copper Export Association. have done
all tHat they could to help out the
stricken nations across the water with
The raw materials TO start some Of
their industries moving.
In building enterprises copper and
brass lave q place that cannot profit
other metals and materials have place !
IN comm on-sense construction work
that copper and its products would not
expect TO FIJI. This is gradually com.
ing to be understood by those who put
their money into building enterprises.
and It is one OF many encouraging de-
velopments of the last eighteen
months. The orgy OF cheap substitu-
tion seems to be disappearing, and not
only III building but in otaer forms of
investment our people are realizing
that there is no real economy in short
lived materials waich require con Instant
urkeen ard replacement charges, no
matter hoH' attractive and tempting
,a sli5yiitiv ,uar in .tial cost may be
New-York tribune., 1922-01-01
Large absorption Likely

The two are insepara Bile. and we may
expect a continued large absorption OF
copper, as present electrical enter
rriscs expand and new ventures in this
field are started Not only in this
country but in South America and EN-
rope we rear with Erea: frequency
nowadays of new projects having e.ec-
tr:cal power for their base being under
taken. Within month announcement
WIS made that the telephone interests
OF the United States would spend
$50 900, ,OC0 during the coming year
sor additional equipment. q large part
of which necessarily will be copper.
Chile, few weeks ago, placed 81,
100000 order in this country for mate
rals to be used III the electriticaton Of
her raj ways, and Japan, which has
5000 miles of government controlled
railways, began program of electrii-
cation by placing 4 s5,000,00o order
here. We also know that Italy, Switz-
erland and Holland are committed to
similar enterprises; from all Of which
New-York tribune., 1922-01-01

A season Of recession followed,
which. however was of but comrara-
lively brief duration Beginning abou.
,he middle of 1919 and continuing up
10 tic latter part of 1890 there was a
srgc demand upon the steel business.
production absorbing practically the
capacity of the industry.
Toward thc end Of 1920 began the
RAPID contraction in tho volume Of
business Indeed. the demand for stcol
continued TO decline until it reached
point which may be regarded a the
'rrcducble minimum Buying was re-
ducod TO quantities merely sufjcien.
70 mect the immediate daily ncccs-
sites There was 10 expansion for thc
future This condition stiN obtains.
although there has been a slight in
crease IN demand extending over the
PAST siz months. Buyers stocks arc
exhausted and the increase in demand
is due entirely to requirements for i'm -
mediate consumption.
New-York tribune., 1922-01-01

(3) building operations. all occasioned
Very largely by the existing high cost
OF labor entering into these lines Of
industry. These three factors mus. be
corrected before coni1den. buying can
be resumed While these conditions rs-
main money can no, be invested in the
development Of industry with any OK
pectation Of reasonably safe return.
Adding t. the anomalous situation
existing by reason of delay in the
process Of doflation there still remains
20 be amended the rnsound tan losis
lat'o" which IS driving money. ordinar-
'ly aVallahlo FOR investment into chan
ncls othel than productive cntcrnrisc.
New-York tribune., 1922-01-01

a study Of the wage situation re-
Vcals the fac tnst the pay Of foreign
scamen is sNll much below that Of
Americans. According to the Shipping
Board srair, the monthly wage o. s'l
abb seauaM 81 $50, while the pay
Of Rrt.shef is S4S Other maritime
nations show = still lower scale IN
Germany, for instance. the seaman gets
around s. Il month, rcprcss snting his
wages converted into dollars at the
present rate Of marx exchange. This
is not a fair comparison. however. for
the value OF the mark in Germany is
cons idcrably more than its rating in
fcreien exchange. But this gives the
reason why mnay American com
panies operating in the North Atlantic
trade routes, are having repairs done
in Germany, and are utilizing German
facilities in many was. 1t is eX-
peated that shortly after the first of
The year American steamship owners
viii announce decrease o. at least
Is Per cent in wages, and perhaps
more if the expected cut by British
companies develops. There is dis
position on the rart Of the owners not
to force wages too low for fear that
American citizens w!ll be discouraged
in going to sea.
Ihe cost OF construction in Ameri-
can shipyards, which ordinarily is the
second greatest handicap on the mcr-
chant marine. az rcsent is practically
nonresident. Before the war, ships
built here cost 30 per cent to 40 per
cent more, bat just now there is very
little difference between American and
British yards, though German yards
are still considerably lever 1t is the
belief Of steamship officials that when
conditions have returned to normal the
American cost Of construction will be
IS per cent 70 20 per cent greater,
which VII give corrcs spondingly higher
charges for interest, depreciation and
insurance. This is Il problem Of the
fuiule MAich luanr aln 1.ar ,4innt viii
New-York tribune., 1922-01-01
nalt Expenses CIT

pstss tv' the the future one confidently antici-
recor.ga greater prosperity, because the
rescCbbe'fy should be more raoid and far
The ,h~n.ng' na, s.nce the Improvement from
10 aoS N.Y. s OF record depre ssion has not,
djrea.y sny great extent, resulted from the
tors orr - Operation of the particular fac
rather mat ax.y. were brought into play to
,ion,s !, aftl'cially stimulate the ma
~, s,yn $ business. such IS the rai,rosd
viviaed yIS war labor Pi,r. Board and the re-
rel rei;es .aese @ otherwise likely sources SO Of
.sae, :se & were limited in eifectiveness sss by BY
Of r cppeeIslstently antagouistic attituGe
.hrousso rcs',Foads ads, have turned the corner
ems eoeh their own efforts to curta;j OK.
when 1e r.n s'n'e the Federal control ner;od. -.
20. ,s@ns as legitimate sources Of nafron- v
anane-'.,%s -.% indications Of serious raiiroad
ssfr1i opefn1 ,rouble are noted. There is a a
besp pslu' indication that the cvcle ia 9
" sd, dv9npleied vita labor which rights tHs
tie 4eosed, eonn., can hep Itself in hepng s'ensz
10 a;d ;rdouh'ry, for the crops are amn' 's, q
Tbs d m natural cut in living costs .
4"s War Finance Corporation tiorS' ba.
New-York tribune., 1922-01-01

We may reasonably infer ths. before
many Years ali over the CIVILIZED uorid
vast proioct- wiii be undertaken in
which electrical power w.il plaY an
important part
Also those vho arc perhaps better
versed in great problems Of economics
than | feel that. If the limitation of
armamcnts program becomes eFectire.
it Will mean tho release Of many mil
lions of dollars for ncw commercial Il
enterprises. In any such dceel eloplacne
Of the worlds industrial structure cop
per. brass and bronze arc certain 20
play Troitabie r~les. tor copper ard
its alloys still arc among the ica4inc.
metals Of commerce. made so by tho=e
peculiar and exclusive qualities be-
stnWol ~ nat.l.o
New-York tribune., 1922-01-01
Issue Income Tax Primer

4 Primer Of Income Tax Procedure
compiled especially for manufacturin coy
porat.ons. has been issued by the lnterna
t.onai -Associat ion OF Garment; Manusac
tirers. Il is announced by A. 7. Allison
secretary
The primer. under the title. AN Anal
ys.s Of Federal Taxation for Manufac.u'
ing Corporations. takes UP in detail ths
problems ,acounterei in filing income and
other tax forms. and X simplihe6 ths
all OF the stumbling points in the way o
manufacturers making returns have beer
removed. permitting tho tax payer &
avoid errors and insuring the goVernmen,
Its proper revenue without loss to the tax-
payer.
New-York tribune., 1922-01-01

trend Of international relations? If
these are ground FOR faith-~and think
they are--t is good sign.
However, the country has been or
level Of spending whicn it cannot long
sustain. It is shaping its descent from
these flights to return to sound sense
81 normal values. Condition. inclui ng
taxes, inherent to the evolution from
the war state Of affairs. will no doubt
rctard the rate at which we approach
the aim
1t may we'll be so. because there is
much to Go that must be done we'll in
order to be right and endure.
New-York tribune., 1922-01-01


be met VIXEN it arises. The com
panics which are now having difficult
ties because Of higher capital charges
are those which purchased ships a in
fated prices following the war, and are
now compelled to meet foreign vessels
costing $25 to $50 a ton, compared with
$l75 to 1926 in this country.
Shipping men who have been dis
appointed in the delay in enforcement
Of the Jones act by the board eNpec.
that the law will be made effective dur
ing the next year. President Harding
has asked Congress for repeal of Sec
tion "a directing the abrogat ton OF
those parts of commercial treaties re
stricting the right Of The United
States to impose preferential duties
and tonnage dues 1t s expected that
Congress will accede to his request.
New-York tribune., 1922-01-01
Outlook for Year

There exists the most favorable con-
dition for the consolidation of our
tlxed term national debt. along with the
floating debt of the nation represented d
By our Treasury certificates of indeb.-
edness. To provide for the floating
debt IS the chief essential for early tax
relief for the individual and for busi-
ness; broader plan to comprise all
Federal bonds, launched at the psyche
logical moment, would certainly take
the country By storm and could prob
ably be effectively handled by the Fed
New-York tribune., 1922-01-01

amount Of business the carly part Of
the year in the direction Of "nsereers'
which Will tend to enlarge security
dealings. and these schemes may be
hasten"d RS much as possible in order :
to make them effective by the time the
act may be modified, in case there
should be changes written into those
parts. such as Sections POP to POS
New-York tribune., 1922-01-01
Copper Buying Expected
10 Be Heavy This Year
Electrical Industry. Regarded as in IT.
Infancy, Will Take Large Supplies.
Agassiz Predicts
BY r. l.. Agassiz

18d7 Mining Company, C7oDr- nd
Assocnt
LII American industries had problems grave
~ face since the termination
The Of
Hose whose return development depend
healthy
" have struggles ahead Of them the
country has entire history
dust1lal than that
OF the armlce, when
rehabilitation Of which they know they mad eadg
New-York tribune., 1922-01-01
Boards Sales olicv

Shipping men generally give the new
board considerable credit for bringing
order out Of chaos in the first six
months of its administration. The
losses per month have been reduced
from approximately $6.000,000 to less
than $4,000,000. The losses on voyage
operations alone have been decreased
from more than 81 900 900 d month to
less than 100000. The annual pay
roll has declined from Sl5 5,S51 900 to
$40 $1,000. Similarly the annual cost
Of maintenance Of idle ships has bceA
cut from $39410 900 to s29l9.00O, de-
spite an incrcsse III the numbc. from
956 TO 1900.
The expected sales policy has not
New-York tribune., 1922-01-01
a. III. Sssn;Eia Sees Ground for Hopeful
Outlook fo' Railroads Despite Diff
caslgies To BE Encountered

PrcS'dca' Nc'p York. Central Lives

I'csocat Ncp York. Central
Nt outo' for Volume of business
railroads
There hopeful that the railroads will prepared
serve business later There difficulties
level tic
control and hap et1d the adaptation Of existing
New-York tribune., 1922-01-01

Large Potential Demand
For Steel. Grace Finds
industry Has Consistently Led i'm the
Rc-cstablishancnt of Normal Condi.
lions. Says Bethlehem Head
By Z. C. Grace
Ffesidc,t Bethlehem Steel CorDoyo,oy

7t77T77V 7f7VFN607 Nfcf t0r0o1O11o0
X ORDER lntelgenty consider Of ~
must tf review its experience in the
signing Of the armiste November H. with the canccl
of government acquisitions supplies cac an
unprecedented production he industry '
New-York tribune., 1922-01-01
in the following return OF gross ton
mage on June 80, 1914 and 1921:

in the following return OF gross tor
mage on June 80, 1914 and 1921:
Foreign trade. Total
Gross tons. Cross tons.
June "a. lel4..-.. l.o7E.l52 792s sss
June so. ls2l..... ll.osi.6aO Is2sclSs
Increase ....... io.cOS,5ss lo.ssstss
Practically the entire increase has
been in ships registered for foreign
trade, while the total for domestic, in
Guiding Great Lakes and inland water
ways, has remained constant.
In 1907 the United States had lass
than 10 per cent of the worlds steel
steam tonnage; in 1914 we had still
less than 10 per cent; while at present.
as result of the war program, this
country has 26 per cent Of the steel
tonnage of the world and 27 per cent
OF the total tonnage The vessels un-
der the American ilag now are ade-
quate for the carriage not only of SO
per cent of our total commerce, as :.
carried last year. but over 10 per e-n
of the foreign trade.
New-York tribune., 1922-01-01
" age .S;i,:nt:0n

more in practices further reductions
are contemplated.
New-York tribune., 1922-01-01

E "5'S@s I: s.::... " o:. :"' ''.":. ::%.. '::s ,s
- hnfnrn 6laun tho >Linni1,,r H.,
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-05-10
c. ?. A. WILL TRY
To SECURE MORE
QUAIL IN STATE

How to increase the number of
quail in this section of New Mex
leo is the problem which is being
worked out by a committee of
members Of the Albuquerque G.. p.
A. which has recently been APP
pointed by X. Baldridge, presi-
dent of the local association. The
committee is composed of Char
les Quier, NJ. A. McCrodden and
Aldo Leopold.
In many sections which are
adapted to quail, none exist and
in many of the sections where
there have always been numbers
OF quail, but few still remain.
Members of the G. P. A. feel that
while there has been fair quail
shooting for the past few years,
there should be more quail and
some sort of plan should be
worked out which would not only
better the shooting, but increase
the number Of quail left when
the open season is ovey.
The committee will meet this
evening and will consider num-
Der of plans which have been adj
vanced for increasing the quail
here, among them is that of es-
tablishing more bird refugees.