davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-02-10
Spectators
Rule Market
lrregularity
Industrial Shares Surge
Higher OH Cross Currents
i'll the Trading; Foreign
Exchange in Reaction

Speculative cross currents resulting
in irregularity of quotations yesterday
dominated the markets at the approach h
Of the Lincoln's birthday holiday. AT
the Stock Exchange, where the profcs-
sional spcculators were dominant, quo
tations. particularly of industrial
shares, surged higher. and, in the case
Of the latter, the declines Of the pre-
vious day were more than offset. The
ebb and flow Of prices of these shares
represented little moro than the count
ers of speculative cliques.
The more striking developments Of
tho day were outside the exchange.
There were reactions in the commodity
markets and the foreign exchanges.
Sterling cables, whose rise has been the
outstanding event recently, climbed to
the new high record of s439 At this
figure considerable profit taking wss
invited, and holders of bills. who had
been waiting for higher prices, made
offerings. AS a result the dollar worth
of sterling reacted to s3.35sa, reveal
ing a net decline of ono cent. In the
perspective of the remarkable upturn
the reaction was neither large nor sur
prising. Some of the selling was at
tributed to fear that President Har-
ding would announce that tho United
States would not participate in the
Genoa conference. II that guess proves
wrong. the news will no doubt come as
a fresh stimulant to the market Trad
ng was light in volume, particularly
among the Continental exchanges,
which also turned easier.
The setback affected the trend of
comm modity prices. and energetic profit
taking sales in tho wheat market re-
duced prices between Z cent and ! Is a
bushel. Cotton quotations. which were
up 81 bale, declined late in the ses-
sion with other commodities, and
closed w tn net loss of about 10 of
a cent pound
In the stock market, selling waves
effaced part of the gains of some of the
more active stocks, but the general
average of industrials retained fairly
| large gains and the rails too were once
more moderately higher.
The announcement from the District
Attorneys office that efforts would be
made to prosecute illcgitimatc brokers
attracted much attention. Various
movements to combat the deccpt We
brokerage evil arc crytstalizing.
New-York tribune., 1922-02-10
Selling of Alton Stock

Recent selling Of Chicago e. Alton is
III part presumably for the account of
holders who received their stock in ex-
change for Toledo, st. Louis & Western
collateral trust bonds which fell due
August l. 1917. These bonds were de-
faulted, both principal and interest
and it was not until January 20. 1922.
that the litigation il regard to them
was finally settled and the collateral
deposited under the bonds was d;strib-
uted to bondholders and holders of GER
tltcatcs OF deposit Of the bonds. It
Will be recalled that each 81 900 Series
bond received sl52 in cash and GER
titcates representing IS shares com
mon Toledo, ST. Louis d. Western and
is shares preferred T.. S. l.. 4 W. and
certificates representing l2.5 shares of
Chicago & Alton common and SO
shares Of c. & A. preferred. Chicago
q Alton preferred closed yesterday st
5ls. off =, and the common closed at
2'c, off a.
New-York tribune., 1922-02-10
The Rise in Steel Common

The outburst Of buying in the com
mon stock of the United States Steel
Corporation yesterday. which carried
the price up to S9's at the close. was
attributed in brokerage circles to the
expectation that untitled orders at the
end OF January We're much larger than
recent estimates have indicated. The
tonnage figures will oe made public at
noon to-day. Bookings of the Steel
Corporation on December 81 stood at
4,26S,414 tons, an increase ofs 1882
tons Recent forecasts have indicated
another slight gain, but thc informa-
f.o2 ye 'erIay was that incoming or
defs within the last few days have
been so heavy that the total increase
wan be the largest reported in mauy
months Yesterdays top price for
Steel was the ighest since 1920. The
pest quotation for 1921 was S61s. Most
o. the day s rise in the stock took place
In the last hour, when large buying or
GERS were thrown into the market The
snort interest in the stock rushed to
cover. and this accounted mainly for
the rapidity of the advance.
New-York tribune., 1922-02-10
Netherlands Loan

Passage by the Second Chamber of
the Netherlands Parliament Of bill
authorizing 100000, 900 guilder loan
gave rise to a crop Of rumors yester-
day that an Offering in the United
States was scheduled shortly .eBankers
credited with having purchased the
and expressed the view that, barring
unexpected developments. the financing
was still some distance in the future.
New-York tribune., 1922-02-10
London Market Firm

LONDON, Feb. e.-The general tone
Of the stock market was firm to-day.
Gilt-edged securities became quiet after
early firmness, while oil shares we're
steadier. Only a small business was
done in British industrias.
Bar gold was quoted at 95s Id money
was loaned at per cent. Discount rate s
we're: Short bills, 3i4 per cent: three
month bills, 3ss per cent: consols for
money, 622s; British 5 per cent loan,
931s; British Az per cent loan, S7lla.
Closing stock quotations We're:
New-York tribune., 1922-02-10
The Dollar in Foreign Exchange

The rise in sterling exchange to a
new high level at SA39 for cables
brought out an increased supply Of
bills and checked the demand. From
that point rates dropped 20 sA.35ss
closing All eighth Of cent higher. with
a ret decline OF 3 cent.
0ontinentals ruled easier although
net changes were small and transac-
tons were in light volume.
New-York tribune., 1922-02-10

the per capita circu alton Of money in
the country WAS s5@03 based on a total
circulation of $5.715. 1903 5 and an esti-
mated population of lOs.9l7 600. com
pared with a per capita circulation
on February OF Sa9.96, based on a
total circulation of $5,447k953,533 and
an estimated population of ,O9, ,O55, 600.
New-York tribune., 1922-02-10

fcrred stock. to $4o3 share earned
on the 81 ,9o0,500 common stock. com
pared with surplus, aftog taxes
charges and depreciation. OF so21.l6O
equal to $3.50 share earned en- the
common stock in the preceding year.
Net earnings amounted to $3.1OG.673,
against $3,792,536 in 1920.
New-York tribune., 1922-02-10
Virginia Railway Earnings

Tie Virginia Railway & Power Com
pany reported a surplus for the wear
ended June 30, alter taxes and charges
of $99o.o99, equivalent, after allowing
6 per cent for dividends on the pre.
New-York tribune., 1922-02-10
Paris Market Irregular

PARIS, Feb. 9.-Prices moved ;rregu-
larly on the Bourse to-day. Three per
cent rentcs. 81 francs 90 centimes En-
change on London. SO francs 80 CEN
times. Five per cent loan, IS francs
s6 centimes. frhe dollar was quoted at
a9 francs 81 icentimes.
New-York tribune., 1922-02-10
Money Circulation Hrous

"ASlIlNGTON, Feb 0. Every per
son N the country was tnrec dollars
poorer at the end of January than at
the beginning of the month, according
TO circulation statement issued to,
night by the Treasury. On Januaw !
New-York tribune., 1922-02-10
The Proposed Fcrdnev Tax

The proposal os Representative Ford
ney for imposing a tax on one-liIth Of
per cent OIL ss'es of stocks and bends
to help ra.se funds for the soldiers
bonus would bring the total of selling
100 shares of stock or $4,000 par value
or bonds up to $40, or four-tenths of a
point. brokerage house statisticians
inquired yesterday: Despite the report
ed statement of Mr.. Fordney that the
proposed impost was merely his own
idea regarding the method for raising
money for TIE bonus Stock Exchange
firms continued to view the mater Sc
r!o9s'y. although the stock market re-
hected different opinion on tie part
o. the trading public
New-York tribune., 1922-02-10
international! Combustion Engineering

international Combustion Engineer
ing, which made its debut on the Stock
Exchange yesterday. performed we'll for
a newcomer The stock sold up to a
pared with Wednesdays last sale on
the Curb Exchange at % The company
is engaged N tne manu lecture of st
ecs and accessories designed to in
crease the efficiency and capacity Of
poi'or plants, and to la4er Der'.ting
costs through saving OF labor and
fuel. Earnings in 1921 were 60 ,iva.ent
to S3.II a snare on the l17.510 shares
OF stock outstanding, against S2.79 a
share earned in 1920. untitled orders
at the beginning of 1922 were in excess
of $4,00O,000.
New-York tribune., 1922-02-10
FL IEOI'E

ia fsOtt
Tester- Previous Tea-
GREAT BRITAIN 'rar s@.ss sovcrelsn)
demand ....... a.%5 = A.2fss 2.s.
eO-a bills 'buy,s> 4.ss as s.se
500 bills 1buy'g) 4.20'4 i.31s< $50
FRANCE tpar 1913 cents frsn nc)
ca 'soiss'' Csbiss''...... 49, S.S$,s ..IS
BEIGlUM Cp~r % cents frane>
rsbies st'is ,'D sio SIS 80
sWITzEELA,>D tpar lo.s cents a Franco
Demand. ....'.. .i@t2 l9.4s lsl9
ITALY tpar 1873 cents q lirs)
Demand. ....... ass 4sSs Sss
HOLLAND (par 4o.2 cents 4 florin>
GERMANy (par 2Ss cents a mario
Demand ...'.... .5o'a .5s 1861
AUSTRIA Cpar EOS Genus CROWN
cables. .oSts .oSs. 81,
NORWAY (par 2ss cents CROWN
Demand ...'l 1880 $3.50 40
Gables ........1s.55 1850 11.>o
SWEDEN tpar 2s.s cents CROWN
Demand ....... rs 10 $50 2229
DENMARK ,par 26.s cents CROWN
Demand .... 20. ., 200 $50
SPAIN (par 1873 cents peseta)
Demand .......I5.s6 15.7a 14.0S
ca bles ...l5.Ss 1880 l4.l0
PORTUGAL (per 1896 cents an csc edo,
Demand ....... s.oo 90 S.oo li.4n
GREEcE lpsr 1913 cents drachma, ''''
Demand .....'.. go 4SS 100
POLAND (par 2s.S cents a marIo
Demand. ..--... .oSli2 .Sl'a IL
czESHosLovAKl& s S1fs S'' epsr sos " cents Is
rss1sJ psMsnd ...... 1891. ss,. 80 81 I.sss's
Y, (pa
Demand. ........ .ssA .33 ii
=, Naoes ,Ti ,,a,.,o 80 o,s ,a~, ~
capiss'.... 5st4snd .'.. s. s. Ts's 7s'. 1.s3 :;
FINLAND opar 49, cents marl3
Demand .-..... 90 .20l 3.A5
FAR EAST
CHINA Shanghai par unsettled)
Demand .....7s50 ,sSo 500
CHINA (Hong Kong par unsettled)
Demand. ........54. 4.5o $3.50 1925
Gables. ........ 55.25 55.25 1895
IA PAN (par 4s.S cents yen)
csbiss'.s7.5o sb'@"o ;5S 475S 47sS asSs sS'
iNl'IA tpsr 1855 cents rupee)
Demand. .......2S,5 2s 10 ESQ
Cables. es..........s0O $500 29.75
STRAITS SETTLEMENTS (par 5s.s cents
6.slss. Dsmsno :.:S?9 50. CSC 80
THE AMERICAS
ARGENTINA (par 42,44 cents paper
peoo)
Demand .,...... IS % S6 90 35e2ih
Gables. ............3 .36.S1ia 36.l2ia 3575
BRAZIL tpar $40 cents a paper miirais)
Demand. ..13.621z 1850 1915
Cables. ..lS-'5 l3.o2l2 15.57la
PERU (psr $4.86 pound)
nShGbon SassSs oar $50 s5s cent. az q suers, ''
Checks 4.25 2t.25
CHILE ipsr 3s5 cents peso,
Checks. s....-....1o.l2is 1000 1905
Checks .......1s.5o ,7.'5 90
SIT, i1iA tps" eS ceats BOLIVIA,
checks ........l 10, l7,s7
Canadian Exchange York funds
IN MonHcai AIS per ccrt premium;
Montreal funds in New Yorn. s-l6 per
cent di} ount.
New-York tribune., 1922-02-10
Money and Credit

Opening and renewing at 5 per cent.
call money continued at that level
throughout Yesterdays session. Sup
plies were plentiful and it was reported
that some funds went unloaned at that
rate upon the Stock Exchange. Inter
est in time money was restricted on
the part of both borrowers and lenders,
conditions being unchanged.
Yesterday. Year ago.
On industrial collateral o 6
On mixed collateral. 6
Time money (mixed colateraD:
Sixty days ......... 4a4 as
Ninety days ........ 4&4n5
Four months ........ 4a4Nl3
Four to six months. AK Z
Bank Clearings Bank clearings at
New York yesterday we're: Exchanges.
$500, 900; balances. siS,200 .oC0.
Silver - London. 34lsd d. New York.
domestic bar. 995sc; foreign, 657Gc;
Mexican dollars, 50isc.
New-York tribune., 1922-02-10
In Wall Street
Victory Notes Redeemed

Many holders yesterday took advan-
tage OF tho Immediate redemption pro-
vision Of Secretary Of the Treasury
Melons statement calling for payment
on Juno Is next the entire amount Of
Victory 3M per cent notes outsta nding,
officially estimated at s400.000,00 No
figures as to the amount of notes pre-
scntcd for payment at the Federal
Reserve Bank were available. but it WAS
lcarncd that tho total ran into several
millions Of dollars. The effect Of the
call upon the notes in the market vas
Immediately to establish the quotation
at par, involving the loss Of premium
Of u cents per 500 piece. The vol
un'c Of offerings was negligible and
after ranging up to 10000 the quota
ton declined to 1898 on the final sale
as reported on the Stock Exchange
Switch to Other Tax Exempt
The elimination of s40O 900. 900 tax
exempt securities from the total avail
able to investors caused q rush to
other issues Of this class. Demand was
particularly urgent for municipals Of
relatively short term, presenting a ma
turity corresponding to that Of the
Victory notes, but extended TO other
investments not strictly compare BILE.
J NO most conspicuous example Of this
influence was found in the absorption
Of the last Of The $4,000 900 Federal
Land Bank twentyyear (ten-year r
optionaD per cont bonds, which were
aubsoqucntly quoted at l03. Almost
third Of the total remained to be sold
yesterday morning and this was dis
posed Of before noon, sctting a record
for quick distribution in this type of
operation. Investors also turned tn
First Liberty 31as, which. opening 20
cents hig her, climbed moro than .
point during the day.
New-York tribune., 1922-02-10
Transactions Yesterday in Listed Stocks
Summary of Stock Exchange Dealings

Copyright 1922. New York Tribune Inc)
New-York tribune., 1922-02-10

Canadian Exchange New York funds
IN MonH'cai. . AIS per cert premium;
Montreal funds in New YORK. 5-l6 per
cent di} ount.
The New York herald., 1922-10-09

An effective of and sober pa checks herrngbonc
mixtures fleece poaire cloth and plaid back coatngso such
splendid materials and IN many coorngs that choosing
garment will be peaSurable event.
They hang loosely bced YOU prefer But they all carry
roomy weltaiored pockets and handsomely silk lined
Sizes IA years. N,c,ai Fb95
The New York herald., 1922-10-09
CALDER OPENS CAMPAIGN
ON COPELAND HOME SITE
Senatorial Nominee Insists Industrial Strike Remedy
in First Speech Delivered at Suffern-
Backs Arbitration Plan

William NJ. calder, United States Sen
ator. picked Suffern, y. ", the summer
home of his opponent. DR.. Royal ;. Cope
land. Democratic nominee for Senator
for the opening of his campaign.
In speech there last evening before
the Forum the Senator insisted that the
Government must work out plan of
arbitration which would prevent strikes
that tie up commodities of public neces-
sity. or the railroad situation the Sen
ator said
THE present method of handling con-
troversies between the men who own
and operate the roads and the railroad
employees has not worked out satisfac-
torily | insist that the Administration
and Congress have an obligation to the
American people to work out a system
by which the continuous operation of the
railroads in the interest of the people
Of America will be assured. Products
of the farm must be moved without
delay, industry must not be intertered
with, and. above and beyond all, the
people must have at all times the things
they need in every day life. ] am con-
fident that with the spirit on the part OF
all concerned 10 get together and de-
velop a system which will bring about
The New York herald., 1922-10-09
IS, 900 BOYS'AND GIRLS
TO MARCH THIS MORNING
Mayor Will ReuieW Children
Advocating Safety.

Fifteen thousand Boy Scouts. Girl
Scouts. Campfire Girls. Y. w. c. a. re-
serves and other children's organiza-
tions will parade north on Fifth ave-
nue. TO Central Park this morning as
the feature of Children's Day in Safety
Week.
The agitation was begun yesterday
to arouse interest in a campaign now
under way to lessen death through acci-
dent. OF some $500 such fatalities last
year in New York. 1.05i were children.
according to Ebert II. Gary. director
of the Public Safety Committee of 10o
Mayor Hylan is expected to review the
juvenile host at Sixtieth street. After
dedication of a children's memorial in
the park. at which Health Commissioner
Copeland is to speak Police Commits
sioner EnriGht will present gold medals
to boys and girls who have figured
notably in rescues.
mass meeting for mothers will be
held in City Hall this evening to dis
cuss principles of improved safety
Group days will be observed the re-
mainder of the week. with Transporta-
tion Day. Police Day. Automobile Day,
The New York herald., 1922-10-09

cooperation on he part OF the men who
labor and those who own and operate
the roads the solution will be found.
The most serious question in recent
mcnths has been the coal strike. That
strike lasted for five months and dur
ing practically all of that period no
hard coal was mined. Try as the Presi-
dent would. ii seemed impossible to
bring together the parties at issue. /
doubt very much IL the people of the
nation understood how near they were 10
coal famine. believe there is no
question facing the people OF America
to-day which is OF more concern than
the need Tor assurance that in the fu-
ture no such desperate condition will
confront as as that which had prevailed
within the last few months
Il shall always insist that a plan or
arbitration, conciliation or whatever you
may call II, shall be brought about
which viii effectively protect the public
interest having in mind always the fact
that the man who owns and operates
the mine is entitled TO a reasonable
proft on his investment. and that the
man who goes down into mines under
disagrceable. adverse and dangerous
conditions of employment shah get a
talr days wage for his labor"
The New York herald., 1922-10-09
URGE HIRING DAWES |
TO CUT CITY BILLS
Alderman Harvey Appeals to
Mayor to Thwart Bank
ruptcy Peril.
FEARS POLITICS TAINT
Official Says Budget Director
Even Might Be Borrowed
From Army.

knowing the city is on the verge ol
man of the Fifty-eighth district. sug-
gested yesterday in a letter to Mayor
Hylan that the municipal government
employ Gen. Dawes or a man Of his
character and standing. as budget di-
rector to cut down municipal expenses.
Failing to get Dawes, the city could
borrow from the army at no expense
some other man who could do the job"
and who would be free from political in
fluences. the Alderman wrote. ''Your
Honor knows that the city is on the
verge of bankruptcy and to avoid 1t
drastic action must be taken at this
time. The rent payer. the home owner
and the business man must have their
burdens lightened. The Alderman wrote !:
"The budget for 1923-will exceed that
of 1899. In 1922 the expense of running
the city government was $3.50, ,237 433, or
nearly Sl.000.0OD a day. This huge
sum does not include millions of cor,
porate stock and special revenue bonds.
This the public was led to believe was
the high water mark for some years TO
come and that a reduction was to be
expected Various reasons were assigned
for this stupendous amount. such as
the war and the solution of the schooling
problem. The war ended in 1918 and
the condition of the schools is worse
to-day than twelve months ago, with
little or no relief in sight.
"T ask for no reduction in funds for
the Department of Education. The peo-
pie have been repeatedly told that the
interests and corporations arc milking
them. which Is true, but the corporations
are not taking the money out of their
pockets faster than the city government
Itself. II this statement is wrong. l ask
for specific information.
IL appeal TO you as head of the city
government and in control of the Board
of Aldermen. 70 make a reduction in the
budget for 1928 of at least 10000. 900,
with like reduction for 1925 and 1925,
so that the city can be run within
5000, 600 900.
The New York herald., 1922-10-09
RADICALS OPEN CAMPAIGN.
Three Parties Center Their Fight
on Bronx.

Norris Hillquit. secretary OF the So
cialist party to-day will open the State
campaign Of the Socialist. Farmer
Labor and American League parties.
Edward f. Cassidy nominee ot the
parties for Governor: johns Haynes
Holmes and The Bronx Socialists will
start the fight.
In The Bronx. the radicals arc maxi
ing a hard campaign to elect Salvatore
Nifto and Philip Umstadter 10 the
House of Representatives from the
Twenty-thrd and Twenty-fourth dis
tiictS
The New York herald., 1922-10-09
CALLS ABDICATIoN FINAL.

PARIS, Oct 8. ASSOCIATED Press) -
Former King Constantine OF Greece. in
an interview with the Petit PGisieu in
Palermo, said that his abdica.ion was
real, as he desired to get out OF the
limeight. He added that he intended TO
come to Paris at some later date. Con-
stantine said he abandoned the throne
In 1917 in obedience TO allied pressure
but without abdcating. and therefore
had remained King
The New York herald., 1922-10-09
MILLER And Smith
START RACE TO-DAY
Governor Will BE OH the
Stump Every Day From
Now On.
AL OLD FASHIONED
Democrat Promises Cam
paign of Old Time Whirl-
wind Pace.
REGISTER ALL WEEK
Voters to BE Brought Out by
Republicans and Tam
many Hall.
REGISTER ALL WEEK

Jumping into the race at top speed
Nathan L. Miller and Alfred t. Smith
are off to-day in the great contest for
the Governorship.
Mr.. Miller will depart on his cam
paign train from Albany at 3 o'clock
this afternoon. Every day hereafter
he will be on the stump. Mr.. Smith
will open his headquarters to-day in
the Bitmore. Tomorrow night he
Will mount the stump in Yonkers. fol-
low with two days here and then start
up State after the Governor and tour
every county.
Mr.. Miller is slightly in the lead Of
his opponent in getting started, but
Mr.. Smith declared yesterday that.
freed of the gout and rheumatism and
ready for the fray, he would make a
whirlwh campaign of the old fash
Toned wasfiety.
While the leading candidates are
starting the real fight every organiza-
ton leader and party worker in New
York will begin getting out the care
less and indifferent voters for regis
tration. The registration of voters will
begin in this city to-day and continue
all this week
The New York herald., 1922-10-09

Industrial Day and Merchants Day fol-
lowing in the order named.
The New York herald., 1922-10-09
Literacy Test In Use.

Tammany and the Republican or
ganization will work harder than ever to
get a big enrolment. In cities and VIII
lagos of 5000 population or more regis
stration days are October 13, Ia, 20 and
Fl. In communities fewer than 5000
population where personal registration
is not required, the registration days are
October IA and 81
With both organizations making en-
unprecedented move to get big turnout
of their party members the enrolment
should equal that of 1921, when there
was Mayoralty election. The figure
that year was 1.265.51S. The enrolment
IN this city in 1920 for the Presidential
year was 1,373S73.
The literacy test, which went into ef-
feet on January /, will be applied for
the first time this year. 1t is expected
to bring some confusion and trouble.
Under this law. new voters are required
to show their ability to read fifty words
in English and to write ten words legibly
before qualifying to vote. and the new
voter Is one who has. through natural
ization or by attaining his majority. be-
come eligible this year.
At each of the polling places there
will be 100 extracts from the state
constitution, selected by the Secretary
Of State. and printed in English. The
new voter. il required to prove his
ability to read and write. will draw one
OF the slips and read aloud the words
printed thereon. The new voter may pre-
sent to the board of inspectors "A cer-
ti1cate of literacy. signed by the prin-
cipal or other head of public school,
stating the applicant has been ex-
amined.
The New York herald., 1922-10-09
Miller i'm Utica Tonight.

Every man in the two organizations
from the head of the ticket down to the
district worker will have his work as
signed beginning to-day There will be
no cessation until election day.
Gov. Miller has made four important
speeches and is well ahead of his op-
ponent. but will start his real campaign
ing to-day. He will speak in Utica this
evening and every day for the rest OF
the campaign will be touring the State.
His big vote is to come from the up
state districts. He will reach into every
county and every community of impor-
tance In his effort to make that upstate
plurality big enough to overcome the ex-
pected Smith plurality in New York city
Even in the three days he has been
speaking the Governor has shown that