davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01
New Orleans River Trade Up
Government Barge Line and Private Owners Report
Largest Business Ever Handled; Pros
porous Season Seen Ahead

tracted. Louisiana has about 81 100000
OF highway work under way.
Throughout this section of the Soltf
the indications are for a prosperous
fall, winter and spring. Further that
that it is not possible to forecast, bu:
it's the longest distance forecast that
one has been able to make from known
and logical premises since the Gays Of
the war
The principal basis of this prosperity
is in the agricultural situation. The
South will probably make larger net
profit this year on its crops even than
it did during the war, when prices for
the products of field and factory wers
exceptionally high.
The success of any business IS
measured by net profit. In the South
to-day we see the phenomenon of crops
produced. under the most economics
conditions, with good prices now OBJ.
tanning and an increased productios
in certain lines.
The farmers had to produce then
crops cheaply, for the reason tEa'
they were unable to draw heavily %
the banks to finance themselves. Rlss
has been produced at remarkably lM
cost, and the strength of the markf
and the present prices mean a larR
net profit. The same is true of cotsaR
the yield of which in Louisiana viii %
considerably larger than last year, tfe
prices fairly high and the cost Of PR
duction far below last years. Such
likewise the situation in sugar
cheaper production, better prices aas
the outlook for an excellent crop,
Turning to industry we see improves
and better production. The lumber ~
dustry has been greatly stimulates
the revival in buildings moyeIaesf
that bids fair to continue through ass
year. In the coal regions of Alapsm
the maximum production is being "
cured.
The sulphur and salt industries
Louisiana are benefiting in the gepslIs
improvement and manufacturing err
prise in general is or the upVE'
swing.
There has been decrease in uasS
ployment and the settlement Of II
strikes has enabled business, VIM
was held in check by that nasaoa~
obstacle, to make plans for expansi0ns
The stores are putting IN
stocks of goods in anticipation I'M
large business. Some of the cossr.ss
stores, which were late in senslnt s,s {
real Improvement in condisiodA An
placing their orders by teiephens
the Wholesale houses here, assipss ,si
the best of the market without IS
discussion as to price.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01
Bales Unprotected

The American bale is first made at
the gin, where it takes its bulky form
and is partially covered with either
new coarse jute bagging or, all too
is next either sold to the ginner or
other local buyer, or it may be hauled
back to the farm and stored in the
barn Or thrown on the ground outside
and left to the mercy of the weather.
Its next journey is to concentration
point, where it is unloaded on the
ground or on the platform of public
compress to wait it's turn for COM
preston into the standard commercial
size. AT this stage it often remains
on the ground unprotected from the
weather for weeks at q time Then it
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01
Wa,,t EpiIs Corrected

The users Of raw cotton have for a
generation or more begged the South
TO correct the evils attendant upon the
existing system, but the shameful
wastefulness persists, despite warn
ings such as that sent out the other
day by the Department of Agriculture
to the effect that although cotton is a
long suffering and much abused crop
the old fallacy that cotton is indie
structible and hard to damage has
been exploded. So much cotton is
damaged after being baled that the
custom has grown up in some markets
of assessing country damages" on all
bales whether actually damaged or not
The American cotton bale is con-
demned on every hand. Judge Ogden,
a representative cotton grower at the
Washington convention of the cotton
trade as far back as 1906, said of it.:
THE American cotton bale is dirty,
damaged, disreputable, water-soaked,
wasteful, slovenly, clumsy, highly-in-
ffammable, turtle-backed package"
Another Southerner characterized it
as: "The clumsiest, dirtiest, most ex-
pensive and most wasteful package in
which cotton or any other commodity
of like value is anywhere put up"
Then a report of the United States
government adds to the Indictment:
NO liaG eHlSiS iHtO vie
domestic or foreign trade of any coun-
try is so carelessly prepared or so in
adequately covered as American cot
ton. If the spinners of Europe
could obtain cotton elsewhere in
needed quality and quantity they
would not come to the United States
and accept the unsightly and anti
quated package with its wastefulness
and loss, its fruitful sources for ex-
asperating contentious and liability to
expensive litigation. Cotton is the
only important commodity which has
resisted the progress of the age and
which continues to enter the market
places in the form and garb Of days
prior to the Civil War"
Every important organization Of cot
ton spinners in this country and
abroad has persistently demanded re-
forms. At nearly every congress of
the International Federation of Master
Cotton Spinners' Associations resolu-
tions are adopted asking for better
ment of methods. The Indictment is
continuous and universal, but it has
made little impression on those re-
sponsible,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01

These addresses and discussions by
the delegates to the bankers conven-
ton, although unofficial so far as ac-
ton is concerned, should aid the bust
ness community and the public in
forming conclusive opinions, which as
suredly will be felt in official circles.
| Aside from the consideration of in
ternational finances, the convention is
expected to temper anad augment the
opinions of the great body of merican
bankers on other phases of American
| business life.
| Francis H. Sisson, Iice-president of
the Guaranty Trust Company of New
York, and chairman of the public re-
!ations committee, said that he be-
/ lieved the convention would accomplish
three great results, aside from its
technical phases-giving out of town
bankers clearer conception of New
York bankers and financial institu-
tnins,. warning bankers against ILL
conceived and impractical cure-all
panaceas and instilling the awareness
that the prosperity of the United
States is linked up with the welfare
Of the world.
I'VE want to show the bankers of the
country" said Mr.. Sisson, "that New
iork hnanclers are human beings and
not monsters squeezing the industry of
the country for profit, as is so often
pictured by some politicians. We want
them to see that New York, as the
financial center Of the United States.
is primarily interested in financing
productive activity"
He pointed out that in many sections
OF the country the opinion was held
that !, New York banks were parasites
on industry, sucking in vast funds to
be loaned for the great "Wall Street
gambling orgies"
Finance Industry
,,. "As matter of fact" Mr.. sisson de-
clared, "only very small part Of orr
funds are loaned on the Stock NY
change, which certainly fills a leeiti-
mate need, while the vast proportion is
sent into the channels Of business and
industry" gnu
A considerable part of the funds put
out on the Stock Exchange are sent tn
New York by out-of-town banks he.
cause of the liquidity inherent in such
The bankers of the country must 900
when they come here, said Mr.. Sisson.
Continued on page elsven)
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01
Only Partly Copered

1t has been calculated that the
coarse mesh jute bagging with which
the American cotton bale is covered
leaves two-thirds Of the surface Of the
bale absolutely without protection. So
it is no wonder that those who buy the
bale for use are always asking that
better covering be employed In brief,
the spinner asks that American cotton
be covered as is Egyptian and Indian
cotton. or, as requested at the last In
ternational Congress, that as an alter
native to the Egyptian and Indian prac-
tice the bale be covered in an efficient
manner with light burlap or osna-
burg. 1t is obviously in the hands of
the American trade to rectify the quail
ity of the covering, for the maker of
this material manufactures Just what
his customers call for, and as soon as
the latter specify differently, Just so
soon will the change be made.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01
Special Dispatch to The Tribune


NEW ORLEANS, Sept. 2S.-With
merchandise estimated to be worth
100000 examining the warehouses of
the MississippiW Warrior barge line and
owners of other river transportation
craft reporting greater amount of
business than ever before, one does not
have to be an optimist to foresee the
awakening of the Mississippi Valley.
which advocates of water Transports
ton have been forecasting with the
development of the rivers. New Or
leans, the terminal of the Mississippi
River trunk system, stands to benefit
principally.
Of course, large part of the present
water-borne business is partly due to
rail difficulties, but there can be no
doubt, judging by the books of the
Mississippi Warrior line, which is OPP
Grated by the government, and the
greater Investigation of goods han
died, that the volume of normal traf-
tic is swelling.
For the fiscal year ended June 30.
Tor instance, the books show that ST.
0O0 tons OF wheat were carried by the
barge line, $4,000 tons of corn, $4,000
tons Of cotton, 22,500 tons of coffee.
$4,000 tons Of sisal, $500 tons of oyster
shells, 1900 tons of molasses, III 900
tons Of sugar, 10000 tons of sheet iron,
$500 tons of tin plate, 1000 tons of
farm wagons, 9,700 tons of nitrate of
soda, $4,000 tons of burlap, 9,700 tons
OF canned goods, 4.7oo tons of iron and
steel products, 5000 tons of prepared
roofing, 1000 tons of rags, 5000 tons
OF soap, 1000 tons of starch and $4,000
tons OF mIscellat articles.
A straw. pointing to the general bust
ness development here is furnished by
a large motor truck company, which
claims to be the largest distributor of
trucks in the country, in report that
New Orleans bought more motor trucks,
relatively. in July than any other city
IN the United States, and that the col
iections were better. Of possible so
points in collections New Orleans
scored "a.
The acting manager of the Toyo
kisen Kaisha (0riental Steamship Com
pany), visiting the port from the New
York headquarters, expressed satisfac-
tion with present business and future
prospects here, and said that "of all
American ports New Orleans has the
greatest opportunity for developing
trade with Japan, and is making the
best use of its opportunities"
Road building is increasing rapidlv
IN the South. 1t is estimated that
about 40,000,000 of such improvements
are under way or are about to be con-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01
Who Pays the Bill

There is. too, q custom, which is not
uncommon, of using the half of an old
sugar bag as patch upon which the
marking Of the bale is made, and a
regular trade in these is maintained.
The cotton grower seems to think
that the spinner ought to pay some
thing directly to him for any extra
precautions taken to deliver the bale
IN better than the customary condition.
inns IS hardly reasonable expecta-
tation, because while the spinner de-
p!ores the waste inherent in the pres
ent system he realizes that in the last
analysis the loss falls upon the farmer,
except in so far as a waste is always
deplorable and reflects some degree of
injury to all concerned. At the same
time the spinner pays only for the
cotton he actually receives, and if he
does not buy net weight he makes full
allowance in other ways for any short
age or damage there may be in the
material he buys. Nevertheless, if any
planter or ginner places on the mar
ket bale packed and preserved as is
desired by the spinner and marks it
IN such way that the user can trace
its origin, the spinner surely will seek
that mark again and again and will
pay an increased price commensurate
with the advantages he secures over
other bales. This fact was impressed
upon the trade at the World Cotton
Conference in New Orleans in the
fall of 1919 by Jesse Thorpe, Lam
cashire spinner.
The character of the fabric covering
the bale also comes in for well-founded
criticism. Much of it is secondhand,
willis a great deal Of it is rewoven, be-
ing manufactured from the decorti-
Gated fibers of second-han or worn
out stuff. This is reworked over and
over again until there remains little if
any effective strength in the resultant
fabric. If, however, it looks all right
at the start it would seem to be no
body's business to care whether it will
perform the work it is expected to do
or not
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01

Thursday night at the Bowery Mission
227 Bowe1y, John G. Hallimond. the
superintendent, said that the speech
was unique among the discussions
which had previously taken place,
| Ordinarily more spiritual topics are ar
tlculated. 1t appeared unprecedented
for financial editor of metropolitan
newspaper to come before this fotsam
ana Jetsam Of human kind and speak to
them about money matters. And the
unusual character of the situation
worked both ways. Unusually profess
slonal scribblers about wealth talk
through the medium of the written
word to persons of some degree of af-
fiuence. Although no statistics are
available, it is fair to assume that un-
sllled laborers and illiterate folk ara
neglecting the financial pages as COM
pared with the interest in them ~
skilled laborers, salaried men and
women and enterprisers.
AS we rose to speak in that little mis-
sion room, where the spirit of the
brotherhood of man lives, we were CON
1ronted with majority of men we'll
over fty--battered by life's iolts dis.
lllusioned, penniless, and in manv in
stances without jobs. They were a
tragic illustration of the consequences
OF lack of thrift, rather than nromis !.
ing material for lecture on whv saw
ing Is desirable. And yet they seemed
glad to be informed that by saving
8 l-S cents a day and making deposits
monthly in building and loan associa-
ton they would have $2oe in twelve
years-in other words, at least 10a
days labor saved up for the emergency
OF unemployment, i'll health or prema-
ture death. Products of their environ
ment, these men find an attitude Of
frlendliness at the mission, visit 70
which will be moving experience for
1oik who are struggling with problems
Of investment, rather than the pros-
poets OF getting a bed to sleep in to.
night.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01
The Purchasing Public

AS to the exact size of the purehas-
ing public in Japan for American and
other foreign goods. there is room for
speculation and no statistical data OF
any great accuracy. But suppose, now,
that one in five persons in the entire
empire were to have the purchasing
power and the desire to buy American
goods. There would be something more
than 100000 persons in the potential
market for American products. There
is another way of getting ct the same
sort of thing; that is the number Of
the Japanese who pay or should pay
income tax of one sort or another. CT
such there are between 100000 TO
100000. 1t would not be far wrong
therefore for the merican exporter to
figure on about 100000 prospective
purchasers in Japan waiting for foreign
goods. Waitin gis not the right word
for they are not waiting for the COM
ing of the American goods, but they
are there to buy if American traders
are swift-footed enough. wideawake
enough and aggressive enough to make
good their boast Of being the greatest
hustlers in the universe.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01
What Figures Mean

These bare figures command the Sc
rious attention of any who has goods
to sell to Japanese customers. But
there is much more in the newspaper
advertising In Japan than these mere
circulation figures show. An American,
generally speaking, puts down his PEN
MES, picks up a newspaper, chances
over it and when he is through throws
it into a waste basket. That is often
the end of the American newspaper, as
far as its influence and it's existence
for the day is concerned. The life and
destiny of Japanese daily is entirely
different.
In Japan-and this is more especially
true in China, incidentally-the news
papers go into the hands of a we'll to do
person, first of all. He is usually the
head of family. When he is through
with it it does not find it's prompt
burial in a waste paper basket. 1t is
handed down to another person less
favored financially. The procession so
started usually ends with a jinrikisha
coolie. 1t is important for the Ameri-,
can advertiser to bear in mind this
important fact: That in Japan virtually
everybody can and does read. And
the Japanese are passionately fond of
reading newspapers.
The one thing needed there is to edu-
cate the buying public to look to the
newspaper as shopping guide. And
less success. Under the circum stances
it is not hard to see that a thorough
study Of the Japanese dailes as to the
quality and extent and the particular
locality of their circulations would re-
ward an American aynorter arnn1y
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01


which points the moral. A Japanes.
trim placed large order with an
American concern with the instruct;ss
not to wrap the goods in white nsnss
The particular manufacturer had -
ways used white paper. To use en-
ored wrapper struck him as an insut
to his common sense. White wranna.
was by far the heater His commns
sense told him to ignore the heathss
suggestion on the matter And he wen,
ahead in his faith in the infallibil;tv
of his common sense. When the good,
reached Yokohama they were refused
They had to be rewrapped before tk,v
were accepted and marketed. Here |.
the reason: In Japan white is the color
Of mourning. In some things a Whit
wrapper is entirely too suggestive and
acts disagreeably on the fancy Of thu
JanaOeSa nI1rr haspr
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01

diplomacy. Yet, In the opinion of
ggIravated the unsettlement in Europe.
Many economists predicate the soiu-
tlon OF the Preparations problem on a
DEFINITE settlement of the question of
lnter-Allied debts, and declare that a
firm basis for the free internationa Il
exchange of goods is dependent upon
a successful working out of both prob
lens. There is also a great BODY of
opinion among financiers of every ma
ton that the discussions on repara-
tlons and debts should be removed
from the realm of politics. They con-
slider both problems from a purely
business standpoint and cry: "Leave
business matters to business men,"
These financiers contend that repara-
tions and international debts have too
long furnished political capital and
have too long been the flame under the
caldron of postwar enmity. Europe
cannot really return to normal paths,
they, say, until the uncertainty of these
overhanging problems IS removed.
Bankers coming to the convention
here realize that the question of inter-
national finances is one of the most
important in the great series of eco
nomic complexities. What is the way
out? Can the debts be collected? If
so, would it be advisable for the United
States to collect them? What effect
would cancellation have, Would it
tend to improve international trade. or
would it merely place the burden on
70
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01
Along the Highways Of Finance

MERE is irony in the fact that the
j. former Kaiser's large royaltie.
from his memoirs cannot be seized t.
help Germany pay raparations to the
Allies. The main figure stands aside
safely in Holland, while the relatiyel,
innocent plain people must bear the
brunt of paying for the sins and mis-.
takes of the past.
An examination of the reasons WHY
Germany defaults on her Preparations
oblizations has been made by the city
editor Financial editor, in the Amer.
lean language) of "The London Times
His primary conclusions are thus sum.
married.:
That the imitation of the cur
rency is primarily responsible for
the depreciation Of the mark.
the depreciation of the mark;
That imitation Is not due to repa-
ration, but is primarily continu-
ance or unsound financial policy
which has been pursued since
1014;
That imitation is the cause of
Germany's default on reparations
and that unless it is stopped the
default will continue;
That moratorium should be
granted to Germany on condition
that she balances her budget and
consents to the appointment of an
international commission of con-
troll having power to terminate the
moratorium in the event of failure
to stop inbation:
That an international committee
OF experts should be appointed to
examine closely the economic CON
ditlons of Germany and to draw
up scheme for the definite AKA
tion of reparations, to be con-
s!dered by the Allies in conipnc-
tlon with settlement of inter.
Allied debts; s
That with the restoration Of
SOUND financial conditions Ger
many could in time make substan.
tial reparation to the Allies:
lhat the present depreciation
" the mark is not justified by the
actual economic conditions pre-
,, .s IN the country, but is large
~ que to speculative selling of
ha ~, owing to political fears.
mat this proved by the facts
sAa' German commodity prices and
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01


pound as the value of this destruc-
tion, there would be a money loss of
S2,o04, 900 to be charged against
the boil weevii out of total of
$3.50, 100000 from all causes. Which
means that the losses classified under
the comprehensive head Of "all causes
averaged al per cent during the dec
ade. During the last season (i9a1l
they reached the alarming percentage
or 57A. The percentage of loss of
American cotton due to the bill weevil
rose from per cent (714,000 bales) in
1912 to 80 per cent (s,277 900 bales) in
1921.
These figures are given by way of
Introduction because they arise from
the principal menace to the cotton
growing industry, There are also
others of long standing than the
weevil which, while costly, have re-
ceived comparatively little attention
from those responsible for their con-
tinuance and which, unlike insect pests
and adverse weather conditions, might
have long ago been corrected by con-
certed action on the part of those who
are the direct sufferers.
One of the more serious of these is
the system of baling and sampling,
which it is often said imposes an
annual penalty of at least 81 200 900 900
or the producer.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-10-01

wages are much below the world
lever and that mark exchange fell
SO per cent in value in a week and
rose to the same extent few days
later;
That, definite settlement of
reparations should be linked with
a permanent devaluation of the
mark and the issue of new cur
rency;
That the cessation of inbation
would automatically stop the
flight of the mark;
mat imitation and the conse-
quent depreciation of the mark
have brought about serious indiyi-
dual loss and social disorder. but
not general economic bankruptcy,
Interesting opinions from disinter.
ested person who has been on the
scenes. Being opinions and not facts,
the views of the city editor of "The
London Times" cannot with finalitv he
assayad. e..lsp.s,,w,
Began With the War
The fact that imitation and unsouna
financing began with the war and mt
aIter the armistice needs to he
stressed. Eminent economists believed
that the war would end infinitely
sooner than it did because of the in
ability Of belligerents to finance on
erations. Many, after the event. have
laughed at the folly of the academ-
lclans. And yet there was an element
of truth in their error. Particularly in
the case of Germany, the war was
financed not alone out of current and
accumulated wealth, but largely bv
means of a colossal red ink over
draught on the future.
What is now needed is conference in
the spirit of a creditors meeting. The
issue cannot be solved by shouting
campaign slogans or by disseminating
hatred. The problem is essentially eco
nomic, and must be approached in the
attitude of constructive and Intelligent
business men dealing with partly
emasculated debtor.
After the speaker of the EVENING had
nnished brief talk on "What Poor
Man Can do With His Money! last