davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-12-31
Holidays This Week

Monday. January I'm every part Of
Europe, except England and Ireland,
Greece and Turkey where IL Ia OBJ
served by foreign banks and mer-
chants); in all Of the European colonies
in Africa and in Liberia; in every
country and colony in North, Central
and South America; in all parts Of Asia
except Hejaz, Mesopotamia, Palestine
and other parts Of the former Turkish
Empire, and China (where II is observed
BY the foreign community, and in Aus
tralnsia and Oceania. In the United
States, In every state and territory, In
the District Of Columbia and all colo
nial possessions.
TUESDAY. January 2-Ceylon, China.
Japan, Maur.tius, New Zealand. Persia
New Years Day.. West Australia
(part), Windward Islands (day after
New Year, and Haiti (glorifeRtion Of
the heroes Of independenee).
Wednesday, January 3-Ceylon, japan
New Years Holiday.
Thursday, January 4-Newfoundland
Thanksgiving Day..
Friday, January 5-Japan (shin-nen-
en-Kai).
SATURDAY, January 6-Argentina, Aus
tria. Bulgaria, Canary Islands, Dominion
OF Canada Quebec, Colombia IypruA.
Estnonia. Fernando Po, Finland Ger
many, Guatemala, Hungary, Latvia,
Malta. Nicaragua, Peru, Poland, spain,
Sweden, Tripoli, Venezuela Epiphany !,
Mexico (HAif Day). Lithuann Twelfth
paw, Dominican Republic tThroe Kings
Dav1
New-York tribune., 1922-12-31

because, every one IN Germany being
anxious 20 exchange marks for goods.
causes factory ehimncys all over that
land 10 pour forth smoke. shelves 10 lll
and refill IN q picture OF a fictitious
prosperity which cannot last.
Great Britain Is holdlag her own
and. IN places. gaining IN South
America. In the recession from war
time peaks, British trade Is ebbing
much less than that OF the United
States, notably In Brazil This l. true
in some Of the other southern markets.
Turns to u. s.
But South America Is turning 70 the
United States for her financial needs
In less than four years our outstand-
Ing loans 90 tho republics Of that part
OF tho world have increased from about
SEQ 900, 900 to between 100000, 900 and
$500 900 900. In the last eighteen
months more than $3.50, 900 worth
% I.atin-Amcriean securities we're
foatcd In New York alone. During the
same period London loaned South
America Ss0,000.000. where these bor-
rowings are for constructive purposes
they arc bound 20 have a strong reflex
on the direction OF the flow and the
volume OF the interchange Of goods.
Only the beginnings Of this will be felt
In 1929, but enough 70 decidedly favor
ably influence the trade trend for the
United States.
As yet, in most sections, the ten re-
publies OF South America are buying
only 70 satisfy immediate needs. With
the first signs OF European normnliza-
tion and a consequent increased pur-
chasing power and a botterment In e1'
change. the coffee and cocoa OF Brazil
the hides. wool. wheat and meat OF the
Argentine and Uruguay, the nitratrs Of
Chile. the tin OF Bolivia and tho cop
per and silver OF Peru viii begin 20
approximate IN purchasing power OF
manufactured articles the prc-war
ratios. Then South America will begin
buying for stock.
il to-day We arc selling hardware
machinery and some other lines m
many OF these markets on a quality
basis as against substantial differences
in the price Of German bidders, i IS
reasonable TO assume, with the added
impetus OF the economic forces men
toned above. that 1923 will be a much
better year than 1922 10 our trade With
South Americs--this in spite OF iarih
which discouragcs all overseas trading.
New-York tribune., 1922-12-31
Leather Business
Made Good Gains
In the Past Year
Large Stocks Carried Over
Into 1922 Have General
ly Been Disposed Of;0ui-
look Bright, Say Dealers
THE leather trade generally I'M

TIME leather trade generally inn
proved in 1922 over the pre-
vious year. The trade faces
the new year with stocks consider
ably smaller than those OF 1922 and,
unlike the beginning OF the year Just
passed, practically all Of the sur
plus is Of the better quality. Pre-
vailing prices generally are higher
than those at the beginning Of 1922,
and some members Of the trade ex-
peet 10 see a gradual rise in leather
prices after the first quarter Of 1928.
The large stocks Of high-prieed
goods carried over into 1922 have been
generally disposed Of. according TO
Richard Young, OF Richard Young.
tanners.
The volume Of business has In
creased" Mr. Young said, until the
trade generally has had a larger num-
Der Of sales than either In 1920 or
1921. Goods have been sold close, but
still have left a margin Of profit. The
trade is closing the year without large
acoumulations Of stocks and will enter
1929 with goods manufactured az prices
generally lower than can now be pro-
duecd with the prevailing cost OF raw
materials Shoe manufacturers have
had a steadily growing volume OF busi-
ness. which has proved remunera'iYe'
There have been fewer failures than
heretofore aad credits generally are In
better condition than they have been
for the past several years. The out
look FOR 1923 Is brighter than for
long time. Prices on nearly all classes
OF raw materials have advanced some
what and manufactured goods are held
hrmly at to-dRy's prices. which. gen
orally speaking, are not likely 10 ad-
vance sharply. ! do not look for much
higher leather prices than prevail at
present"
In January. 1922, there were eonsid:.
erable amounts Of distressed lots OF
leather, but beginning In May and June
business picked up and has kept going
until the present, according TO Frank
Heeht, leather manufacturer.
There has been nothing very abnor.
NAL about leather sales during 1922,
NJ. Hecht said, "but there has been
fairly steady business. Prices to-day
are Is per cent higher than year ago
and the trade expects 20 see prices
fairly steady for the first half OF 1928.
There have been few fsir-siEed or
ders placed for the spring run. The
most marked improvement in the
leather trade has been In export bust
ness. Stocks AZ the close OF 1922 are
not burdonsome and all the distressed
lots have been disposed OF. Consumers
still refuse to buy beyond immediate
needs; Therefore, stocks in consumers
hands are practically nil"
New-York tribune., 1922-12-31
OuerSe0S Trade

The Emerson Birmingham Company,
Of Rockford. H.. has booked orders
for more than one hundred cars OF
harvesting machinery for France.
Exports Of artificial silk arc inereas-
ing In tho last few months more
thap two million pairs Of silk stock
lncs vent forward 70 foreign countries
leather exports showed big In
crease during the last month. October
exports Of boots and shoes alone
totaled 100000.
The Port Of Baltimore reports cargo
lots Of corn snd -four going forward;
l0.OO0.0O0 bushels Of corn alone was
cleared In the last Two weeks. an in
crease Of $4,000. 900 over 1921 records.
Flour shipments fell of 100000 barrels.
Canada and France have just con
cluded treaty covering trade rela-
tions.
Shipments OF buttor from Canada
for export have reached new hlgh
levels.
Last month 100000 packages went
forward 10 the United Kingdom, the
largest shipments since 1906.
In,por,ations Of wood pulp from
Scandinavia reached 10000 tons In last
month.
Exports Of locomotives show q de-
October averaged S3o,0oO.ooO month.
The beet sugar crop Of Europe is
estimated at 100000 tons.
Germany, Czeeho-Slovakia and France
lead IN order named in exports from
Europe.
The Department OF Commerce has
been granted an increase OF $Sol,OOO
for next, the fiscal year.
Exports Of locomotives show a de-
crease lately. In 1921 our exports
reached Sl.500,000 in value as COM
pared with 100000 this year.
Importc on the steamer Western
World from South America include
$1,000 bags Of coffee AM large lot Of
turkeys for Christmas.
Government advices from Mexico re-
port a corn crop Of $500, 100000 pounds,
the largest in ten years.
The Mexican wheat crop is esti-
mated AZ 228,000 900 kilos, as COM
pared with $4,000, 900 in 1921.
The Marconi Company has with
drawn It's service TO Peru.
Many inquiries are being received
from South Africa for farming i'm.
piements. Windmills are in great de-
mand az present.
The new Turkish tariff practically
prohibits imports in shoes, clothing,
furniture and cigars.
The Bull lines has established a
new service 70 West Africa via the
Azores, from both Gulf and Atlantic
ports.
New-York tribune., 1922-12-31
u. $. Steel Stockholders
Show a Decrease of 2,5l8

A decrease Of 2,51s in the number Of
stockholders of the United States Steel
Corporation was recorded in the last
three months, the total at the closing
Of the books for the December dividend
standing at 93,7se. The reduction,
compared with the record number Of
last December, 1O7, ,43s, amounted TO 49,
$50.
Preferred stockholders at the closing
Of the books for the November diyi-
dend numbered 79,+69, compared with
s0,93f in August, 81 ,446 in May and Sl,-
62l in November, 1921. The average
holdings Of the common, based on the
December figures, we're about 54.2
shares, against 52% in September.
New-York tribune., 1922-12-31
Final Week Quiet in COttOns

cleaned Up. The supply In the hands o.
wholesalers and retailers arc estimated
below normal, though less 30 than sir
months ago, while consumers arc CON
Ing into the market in increasing mum
bers 20 supply actual needs.
The New England textile Industry
has passed thr0t Oh one Of its most re-
marksble yenr-. Except for the wage
issue and tho strike. Il has been quiet
and, from surface indications, uneyert-
ful Bot the year has been probably
rs crucial as any known. Like ever
industry, it was in the throes Of the
depression At the outset Of the year.
In this situation, there were a multi
tude OF disturbing influences In the
industry aud n good share of tmpting
methods Of drastic character 10 over
come them. Chief Of these was The
southc y competition. both real ard
imaginary, and the temptation In soly
ing this issue vas reduction Of wager,
Here centered the outstanding re
sistance tho industry has shown 70 de-
pressing influence In the past two
years. Mills stood side by eide With
the operatives and said the dehation
movement had gone FAR enough. The
reduction was made In varying sections
and strikes ensued Sentiment wares
with individuals as 20 whether q gen
eral reduction would have been ehec.
tive, but certainly around this contro-
versy centered much that was 20 gov
ern the future welfare Of the industry.
Tho fact that Fall River and New Bed
ford mills, along with the other eenters
OF New England, have emerged into the
new wear with a record of good bust
ness the past six months and better
prospects ahead is a tribute 10 them
In facing squarely instead Of yielding
because of irritating eireums,aneeG
The yarn mills have shared least OF
the improvement In business Of any
OF the textile products. Their recoy-
cry has been Both slower and az no
time in such proportion as cloth has
enjoyed. New Bedford has Jared bet
ter than Fall River, At no time seeing
her sales shrink 10 as low a point a.
the latter city. This was because tho
print cloth output OF Fall River came
into much sharper competition than
the fine goods Of New Bedford, whose
cloth is not produced much IN ths
South.
New-York tribune., 1922-12-31

the Bank Of Montreal, takes . hopefu
view OF Canada's trade position and
although 10 has not definitely com
mitted himself on the outlook Tor buai'
ness between the two neighbor eoun-
tries. his remarks are, nevertheless
we'll worth quoting
favor Of Canada. Within two
years there has been a betterment o.
no less than 500 100000 in our fof
cign trade, a factor contributing IN
considerable degree toward the re-
toration OF the Canadian dollar 20 pa
Taken altogether. The foreign trade hg
uros afford encouragement. Ihere
can be no great trade boom without
further important expansion Of forsigf
commerce, and this. unfortunately, if
not yet in sight"
Sir Vincent IL probably one Of u,
soundest students Of Canadian anc
world economies in the Dominion O.
the present time. and bis judgment q
regarded o. sound By the public OF thf
country az a whole.
other opinions. Of course, vary cor
siderably, but one which tho writer be
reason 20 respect was given 20 Ih'
Tribune on the undertaking tnat tnf
mans name would be withheld fron'
publication. This authority says;
There Is not the slightest doubt tbs
the United States tariff policy a.
Affects Canada Is the height of folly
The United States seems % be doinf
It's best 20 kill whatever trade has bee
built up with many years of SOUND
effort on the part Of exporters on bot
sides OF the line. Canadian exporter
are being driven 10 markets furthe'
aheld and consequently less adyan
tageous. In return they are doing
greater purchasing in other market
I look 20 SEQ n marked shrinkage IN
our trade with the United States dur
ing the next few years unless the
authorities at Washington adopt saner
methods OF legislation and stop thi,
ridiculous ehild's play"
New-York tribune., 1922-12-31


States Is taking a very large snare
SO far AZ the Dominion is con-
eernsd. trade during the year showed
sood Improvement over 1921. .
balance Of exports over imports was
maintained. exchange righted tseli a;
trade with the mother country showed
particular gains, and removal Of the
British cattle embargo means that the
restrictive measures on Canadian
cattle imposed By the fordney.McCum.
ber tariff will be largely compensated
Meantime Canada's revenues are
showing satisfactoiy expansion, and
although the returns arc not yet avail.
ablo there is every reason 70 expect
that the fgues will indicate a new
high level for tho country IN any one
year.
Despite tho higher tariffs imposed By
the United States upon Canadian eH-
ports, the Dominion continues 10 snip
her goods Ia goodly volume 20 thc
American markets. Probably the most
important item in this trade Is news
pfnt papsr. the figures Tor which con-
tlnue 20 expand with surprising regu-
larity. Wsrp Il not for 'hc fact that
,hsrs Is "A restrictive measure against
the export of wood and pulp the sotal
for the three items would mount 10
very high figures.
I'm the mean time, because Of the
higher ,arfs placed upon imports BY
the Unitsd States, trade with the
Dominion has been largely moving
agninst Canada. In other words, the
seven months ended October 81. last,
showed imports into cansds from the
United States amounting 70 s2S2.585.'
6i3. with exports from Canada to INC
United States OF S2o0sl2,S3s, which
means that this trade wac favorable TO
the United States by ssi, ,72o63s.
This has resulted. Il might be stated
here. in an expansion Of business vita
Great Britain. so that IN the net Cam
ada il not losing n great deal through
the heavier American tariff imposts.
Sir Vincent Meredith, president of
New-York tribune., 1922-12-31
Favorable Surface Trend
In Business to Continue
Tregoe Advises Caution in Let
Ter to Country's Credit
Men

Favorable surface currents in husi-
ress will continue for a while longer,
in the opinion Of J. Harry Tregoe, ex-
ecutive manager Of the National Asso-
citation Of Credit Men, but what Is 70
happen thereafter "will depend upon
the way we solve our individual, ma
tional and world problems. The manu-
facturer and wholesaler must refrain
absolutely from gambling in the pro
duction and sale Of commodities. Credit
departments must scan their risks and
take no reasonable chances. We must
not be swept of our feet. We are
stronger than we were twelve months
ago. but we are not yet on a firm foun-
datiOn."
Writing his January monthly letter
TO the associations membership Mr..
Tregoe sums up the favorable and un-
favorable factors as follows:
The favorable factors are;
1. An improved transportation situa..
tion in the decreased car shortage and
slightly frcer movement OF commool-
ties.
2. An increased supply Of fuel for
industrial purposes.
8. Activity in the production Of basic
4. A slight increase in the prices OF
farm products.
3. A slight improvement Of prohts IN
some Of the industries.
s. A slightly diseernible improve
ment in the earnings Of railways.
z. The prospect Of our country at
tempting some solution Of Europes
financial problems, and what has been
accomplished by our observer at the
Lausanne conference.
The unfayorable factors are:
1. The increasingly serious financial
conditions in Europe and the continu-
ing unsettlement Of the Near Eastern
problem.
2. The lack Of buying power in Eu-
rope OF our farm products and fabri-
Gated commodities.
g. The continuing tendency 10 rise
in prices and an increase in the cost Of
living.
4. Slow collections that are diseov-
cradle in some sections Of the country.
5. Agitation for IN advised changes
in our Constitution. and attacks on
business. The unwisdom Of these
political movements will be discovered
should they be persevered In, for bust
ness will retreat and the income Of
the nation will diminish IN the face Of
such unwarranted aggression.
New-York tribune., 1922-12-31
Predicts a Banner
Year for Varnish
And Paint Trade
Protective Value Being Rec
ognized More, Says At
wood; Small Household
ers and Farmers Buying

Though 1922 was n banner year for
the consumption Of paint in America,
1879 should eclipse by a wide margin
this Years figures, according to Lewis
r Atwood, Of Louisville, KY, recently
elected president of the National Paint,
Oil and Varnish Association. The or
ganiEation estimates that sales in 1922
totaled more than S350,000,000
"The coming II months" says Mr..
Atwood, promise TO mark a new epoch
IA the consumption Of paint and var
niSh--and for very good reasons.
"0ne important fact that justifies the
forecast OF a big paint year Just ahead
is that our citizens arc finally determ
ined 20 effect economies. The hectic
days Of the war and the period which
Immediately followed have given way
70 more sober thoughts Of the future
with the rank and file Of property own
ers who are fast becoming more ju-
cieious in their expenses. They now
realize more than ever before that
PAINT is an agent Of economy that auto
Eaticslly circumvents expensive peri
edie repairs TO their homes and busi-
ness establishments.'
"Information Of the sort that has
brought about this immense demand
for surface protection travels in
waves. II has already permeated our
industrial centers, the larger cities. 20
quite a marked degree. And the rural
localities are finding that they need
paint II they are 10 keep their operat-
Ing costs down TO a figure that will
enable them 10 show profits.
quite a noticeable reaction, there
fore, has lately come over property
owners in the smaller cities and in the
farming communities. They are in-
sreasing their consumption Of paint,
ard this movement each day gaining
momentum. Reports from few seat
tired sections Of the country subStan-
tate the belief that these classes Of
our citizenship will consume unusually
liberal quantities Of coatings for ex-
terror and interior application during
the coming year.
"This business alone should keep the
paint factories Of the country busy.
since the farmer now sees the light; he
Is going to trim his expenses by keep
ing his house, his barns and his ma
ehinery in perfect working order. Bit
ter experience Of the last few years
has shown II 70 be the better plan for
Jim to follow"
New-York tribune., 1922-12-31
Canadian Wheat Crop

The Canadian Wheat crop IN 1922.
amounting to S3s, ,7s3, 900 bushels, Is es-
timsted 20 have produced a revenue Of
Tor eveyv man. woman. and child in
Canada, a fairly gratifying showing
Tor a country whore urban and rural
population are about equally divided.
The three Prairie Provinces alone se-
counted for 1907. .7S4, 900. Saskatchewan
with t204 4.t0s,000; Manitoba with s55,-
744.0O0. and Alberta with t47.o32, 900.
The value Of the wheat raised per
head IN the three Prairie Provinces
was over si06 for the 1922 crop.
New-York tribune., 1922-12-31
New Oil Well in Japan

In Mishiyama. Exchigo Province,
Japan, an oil we'll Is reported 10 have
been sunk 20 q depth Of 4,sO0 feet. with
satisfactory results. This Is particular
y interesting, says Commercial At
taehe James +. Abbott, in a dispatch
70 the Department Of Commerce, be-
cause the usual depth FOR this province
is no. much over $500 feet. Com
nsreial Attaehe Abbott also forwards
report that the Mural Mining Com
paay which has been drilling for some
rme In Wakkanai. Hokkaido Province,
lss struck oil at $50 feet, the well pro-
<es'ng 2,SsS gallons a day.
New-York tribune., 1922-12-31
Many Mills Now Have Or
ders on Books Running
Well Into the Second
Quarter Of ! 9 2 3
ss...ol pi..n,ch 70 u. rr.1un.

NEW BEDFORD. Mass. Dec. 30
The final week Of The year witnessed no
vital change in the cotton textile in
dustry. but passed with svery indiea-
tion that the gains Of 1922 will eul-
inmate in a prosperous period FOR the
industry in 1928.
Inquiry has been stimulated this
week in most markets, but trading con
tinued TO he largely Of routine ma
ture. Fall FLYER print cloth market
was again favored with more selling
interest than other finished goods mar
kets. Here. though, tho sales did not
keep up With the busy previous week
the total sales for this week being esti-
mated A. 10000 pieces. The Fall River
demand vas for all styles.
New Bedford fuc goods markets re-
acted With some Improvement after the
holidays, but there was no general buy
ing The cotton market made sub
stantlal advance so far as short cotton
was concerned, but extra staples IN
New Bedford closed the week only a
little frmer than the previous week
Inquiry Broadened for All Cotton
Though the more active trading IN
Fall River thc last two weeks Of the
year gives more concrete basis for
optimism for the new year, The New
Bedford mills arc entirely confident the
outlook promises sound business and
plenty Of Il. In fact, the New Bedford
cloth mills are not obliged 10 look 20
prospective business 10 base their esti-
mates Instead large number Of mills
now have orders on their books run
ming we'll into the second quarter Of
1923, and some cannot offer any fur
ther goods for delivery prior 10 the
second quarter Of the year. Stocks
cannot be turned 20 for any volume
trading Spots have practically been