davidaulloa/AmericanStories huggingface dataset:
Evening star., 1922-03-12
BETTER BUSINESS OUTLOOK 4
h IN THE SOUTH IS ANNOUNCED
Chairman of Birmingham Branch of Fed
eral Bank Makes Encouraging Forecast.
Local Financial Conditions.

( Close on top of optomstic reports
from northern. eastern and western
sections of the country announcing
general Improvement in business con-
5ditions comes word from W.. I'll.
kettig, chairman of the Birmingh ham
branch of the Sixth Federal Reserve
Bank and deputy chairman of the
Federal Reserve Bank OF, Atlanta.
--:ecasting gradual improvement
Of conditions in the southland.
MIR. Kettig is most Sanguine as
regards the future of that section of
the country and sees better times
ahead for Dixie as result of the
increased price of agricultural prod
-.a including grains. hogs and
cotton. 1t is his opinion that hard
and Industrious work on the part OF
each Individual will bring prosperity
back.
"The advance in the price of agri-
cultural products" he said. puts the
farmer, particularly in the west, in
a much better position financially.
IT helps his purchasing power, and
this, in turn, is an aid to the gen.
efal business situation.
1.-The prosperity of the west would
create demand for southern
products, and thus this section will
feel the benefits. In the United
States you cannot help one part with
out helping the other"
3 Nr. Kettig pointed to the advance
In foreign exchange as another good
Evening star., 1922-03-12
GRAIN AND PROVISIONS.

CHICAGO, March 11.-Light trading,
quick changes in prices and general
nervousness marked today's short ses-
sion of the Chicago Board of Trade.
Most of the transactions were by local
traders. Wheat finished "a lower to
Y higher; corn, y to y higher: oats,
unchanged to \ higher, and pro-
visions, from 1211a to II lower.
Wheat opened weak on depressing
cables, but took on new life when
corn showed Independent strength
and later bulged sharply when local
shorts. who had Sold freely on the
opening decline, were driven to cover
With this movement ended, there was
nothing to interest the market and
prices sagged feebly.
Within rhe last fifteen minutes
wheat touched the low point Of the
day, but scored q recovery OF a full
cent before the close.
The government report. showing
mill and elevator stocks Of 100000
bushels, was 100000 less than last
year, but was. nevertheless, con-
strued as bearish, as farm reserves
of 2O4,000,0O0 bushels indicated that
there was still plenty of wheat for
export.
the corn market. but was not ex-
tensiye enough to hold it up through
out the session. Outside trade was
light and the market toward the last
swing into the path blazed by the
wheat pit. -
oats were duh. The bulk Of the
operations were trades in the May
and July spread.
There was some eastern buying of
provisions, but on the whole that por-
fion Of the market was dull. There
was enough scattered selling to make
for lower prices.
NEW YORK, March 11.-Wheat-
spot. unsettled: No. red. LAM; No.
hard, 1.45A; No. 1 Manitoba. 1.5S Y /,
and No. mixed durum, 1.41 c. i. t.
track New York to arrive. Corn
Spot. firm; No, 2 yellow and No: 2
c j. I. New York. all rail-. oats-spot.
steady; No. white. 47a47h. Cot
tonseed otl-Quiet; prime crude.
10 90 bid: prime summer yellow, spot.
1T55: May, 1853; July. 11.S1; Sep
tenber, 1897. all bid.
Other articles unchanged.
Evening star., 1922-03-12
REVIEW OF TRADE.

NEW YORK, March 11.-Dun's re-
view of trade says:
Recent betterment in business is
supported-by the prospects of further
gains, although the general situation
is still conspicuously irregular. With
rapid and uniform progress not ex-
pected, the present gradual and un-
even commercial recovery occasions
no general disappointment, and ad-
verse phases now affect sentiment
less noticeably. Added reason for
more hopeful feeling appears in the
continued rise of iron and steel pro-
duction, in the diminishing unem-
ployment of workers and in the
tions, while the improved financial
position of agricultural interests mas
strengthened confidence and stimu-
lated buying of merchandise.
apart from the broadening OF ac-
tiyities, which develops with the ad-
vancing session. there is an increas-
ing disposition in various quarters
TO undertake deferred commitments
along conservative lines, and forward
transactions are becoming a more
potent factor in some industries.
Competition for orders. however, has
narrowed profit margins in different
instances, causing closer reStrlc-
tion of outputs in certain cases, and
the greater discrimination in public
purchasing is reflected in price con-
cessions in consuming channels. ine
main trend of wholesale quotatlons
this week was also downward. DUN
comprehensive list disclosing small
excess of declines.
weekly bank clearings, $6,o7o.-
4O4 OO0''
Evening star., 1922-03-12
NEW YORK BANK STATEMENT.

NEW YORK. March 1.-THE actual
condition of~the clearing house banks
and trust companies for the week
shows that they hold s30,401,650 in
is an. increase of $42,455, $50 from last
week.
The statement follows:
Loans. discounts. etc, ,$4,s43, 769, 900;
increase, 's2,036.000.
Cash in own vaults. members fed
eral reserve bank. $63, 3,565,00o; in
crease. s2.O36.000.
Reserve in federal reserve bank of
member banks. $523. $4,000; increase,
$45,102,000.
Cash in own vaults. state banks and
trust companies, $7.744.000; increase,
$12S,00O.
Reserve in depositaries, state banks
and trust companies. ss,265.ooo; in
Net demand deposits. $3,s45. 1872. 900:
increase. $23.305,000. United States
deposits deducted. $S5,243,000.
Time deposits. $2Sa.sSs.ooo: increase.
; $1159,0O0
1881. 900.
Aggregate reserve, s54o,1s3,o0o.
Excess reserve, s3o,401.65o; increase,
$42,455.6S0.
Summary of state banks and trust
companies in Greater New York. not
included in clearing house statement:
Loans, discounts. etc, $612. 200;
increase. $670.100.
Gold. $5.014 900: increase, $43,100.
Currency and bank notes, $16.441,-
700; decrease. $4,000.
Deposits with Federal Reserve Bank
of New York. $50,s47,7oos decrease,
$2.S50.0O0.
Total deposits, $685.. s.57s. 400; increase.
$481.S00.
Eliminating amounts due from re-
serve depositaries and other banks
and trust companies in New York and
United States deposits, $592,954,7 200;
increase, $2.0S1,S 500.
Banks cash in vaults, $25,796,4O0.
Trust companies cash in vault.
$46,607. 800.
Evening star., 1922-03-12
BERLIN BANK STATEMENT.

BERLIN. March 1.-THE statement
of the Imperial Bank of Germany as
of March shows the following
changes:
Total coin and bullion increased l..
900 marks.
Gold decreased 5000 marks.
Treasury notes increased 522.2oi.0O0
marks.
Notes of other banks increased l.
3S1 900 marks.
Bills discounted decreased
3343. 3S6O00 marks.
Advances increased 19S.S9i.00o
marks.
Investments increased 1921 900
marks.
other securities increased l23,720.0o0
marks.
Notes in circulation increased l.
900, ,779. 900 marks.
Deposits decreased 4,19224s,00o
marks.
other liabilities decreased 4o.3S0.ooo
marks.
Total gold holdings. aa6.379,00o
marks,
Evening star., 1922-03-12
SUGAR MARKET FIRM.

NEW YORK. March 1.-THE raw
sugar market was firm and un-
changed. Spot prices were quoted at
5-16 cost and freight. equal to 3.92
for centrifugal. with no sales re-
ported. There were sales of 10000
bags Of Cubas to an operator for
April shipment and $4,000 bags to an
outport refiner for late March at ~
cost and freight, equal to 3.9s for
centrifugal.
The raw sugar futures market was
quieter and prices easier under scat
tered liquidation by trade interests
and commission houses. Closing
May, ESQ: July, 2.6s; September 2.s5;
December, 2.92.
The market for refined was un-
changed at $50 for fine granulated.
There was a good inquiry reported.
Refined futures were without trans
actions. Closing. May. $40; July,
500; September. sos.
Sugar futures closed easy, approx
mate sales, 1850 tons; .
2,S5: December, 2.S2.
Evening star., 1922-03-12

sign certain to help the purchasing
power of Europe and create better
demand for agricultural products.
He said:
The price of exchange is purely
matter of credit. Nations reducing
their budget within their income, as
England has done. will cause their
rate Of exchange to rise just as
sterling has advanced. while those
that continue to spend more than is
coming in will find their exchange.
proposition as that faced by man
keeping house. When he overspends
his income he loses his credit. When
he reduces his expenses within that
income his credit expands.
Mr. kettig sounded note of warn
and declared that any one looking
for another period of Initiation would
be disappointed.
Day of Imitation Gone.
THE day OF imitation is gone" he
said, land in it's stead has come the
day of sharp competition and quick
profits Strict economy is the hope
of the nation in national. state and
municipal affairs. This, coupled with
hard and industri. us work by every
individual. will bring better times
to us. Nothing else will.
Condition of Columbia GrnphophOne.
Touching on the trade condition of
the Columbia Graphophone Manu-
featuring Company, many stockhold-
ers of which are residents of Wash
ington. the Wall Street Journal has
this to say:
One of the greatest assets of Co
lumbia Graphophone Company is that
its sales organization of $500 agents
has been held intact. despite the dis
appointing sales and profits of 1921.
impending receivership and plans OF
readjustment of finances.
"Of more than 100 manufacturers
of Photographs in the United States.
Columbia is conceded second place.
At peak of demand it was disposing
of over 10000 Photographs month.
Maximum output of records reached
214O00 Il day in 1920. If the esti-
mated demand for 100000 machines
in 1922 materiahzes. it is expected
Columbia will reap its share of the
business.
Company's PfOducta.
Columbia Graphophone Manufacturing
Company makes monographs ranging in
Evening star., 1922-03-12
BALTIMORE PRODUCE.

BALTIMORE. March IL (SpeciaD.-
The egg market is steady. and the
buying movement has improved sub
stantially. following the recen: de-
fairly liberal, but all desirable stock
has cleaned up rapidly and no fur
ther drop in price is looked for. the
market closing firm at % cents
dozen Tor native and nearby firsts
Shippers are advised to let their
held, stale eggs are easily detected
and hurt the sales of good, fresh-laid
stock when mixed.
The live poultry market rules
steady, especially On young chickens
and fat old hens. which are in light
receipt and clean up readily. Ship
pers have been active buyers this
week. and liberal shipments of fat
stock of all descriptions are advis
able. Large. smos h young chickens
are bringing "a and 35 cents pound,
while desirable winters. two pounds
and under. bring .3S to 40 cents:
rough, shaggy and thin fowls are
SVerlooked at "a and % cents. De-
mand for turkeys limited. and stock
must be fat. of small to medium size.
to draw top quotations of 43 to IS
for hens and So to 3S for young COB
blers; old toms not desirable at 35,
and poor and crooked breasts slow
safe dt 0V. MdIhel lOT uuChS HI Ill.,
with desirable stock wanted at 80 to
So; small and poor will bring 2S.
Geese are steady, with an improved
demand noted for nearby fat stock,
at % and Is cents, and Kent Islanders
bringing Il premium of cents over
top quotations, but poor and thin
birds are neglected at 90 and %.
Young guinea fowl wanted at 65 to
20 cents each, while old will bring 40.
Pigeons in ample supply at 35 to
40 cents pair. Receipts of dressed
poultry ar erunning very light, and
under fair but limited demand the
market rules firm. with movement
ems, fat hens and large. fancy capons.
but it takes extra fancy stock to
bring a premium over quotations for
live poultry. Large capons, seven
pounds and over, find ready sale at
40 to AZ cents; medium, five to six
pounds. IS to 3S. and slips, 80 to S2
cents.
The market for white potatoes is
rather in buyers favor. for with ample
stocks on hand to satisfy all trade re-
quirements and prices easy poor quality
Maryland and Virginia McCormicks
and nearby No. l stock selling at
200 to 2.15 per 100 pounds and Nc
Cormicks 1.65 to 1.9O. No. stock,
all sections. not active at IS to LOO.
and No. 3s not wanted. Sweets and
yams are running fair. and market
rules shade frmer on barrel stock
at 400 to 500 for the former and $50
to 400 for the latter. No. 2 stock of
both will bring about half price. Sup
ply of choice hamper stock of sweets
and yams is equal to demand. at 1.25
to IT'S a bushel and so to IS cents
for No. 2s.
Native and nearby garden truck in
fair demand at the following quota
tions: Oyster plants. to 10 cents
bunoh; parsnips, 40 to so bushel;
spinach. 1.25 to 1.65 bushel; turnips,
IS to IS per four-elghths basket. and
horseradish, 800 to 400 bushel. Nor
folk spinach and kale, barrels, SELL
ing mostly 1.50 to 800 for the former
and rs to 1.25 for the latter. Onions
in freer receipts and market easier at
500 to S.25 per 100 pounds and 800
to 400 for No. 2 stock.
Evening star., 1922-03-12
ST ,250, ,000'U. S. BUILDING.
!Proposed Construction in Cincinnati
for Parcel Post Purposes.

CINCINNATI, March ia building
to cost $1,250,O00 to be used by the
United States government for parcel
most purposes will be erected here on
practically half a block. bounded by
4th. John and Sd streets. it was an
nounced today following the closing
of the deal in Washington for long
time lease by the government from
George Sawyer, Cincinnati broker. and
associates.
The building. which will be equip
bed with all the latest devices for
handling of mail. will be 800 by $50
feet, and of three stories.
The third or upper story is to be
used as a garage and automobile and
wagon repair shop. A special feature
will be a tunnel under Sd street to
the Central Union railway station
and in which electric mule" con-
veyors will be operated.
1t is said that there will be em-
ployed in the building from 800 to
400 persons.
Buildings now ON the site, among
which are church and former con-
vent, will be removed speedily. 1t
was said tonight, and erection OF the
new structure will proceed without
delay.
Evening star., 1922-03-12
LIVE STOCK MARKETS.

BALTIMORE. March IL (SpeciaD.-
There is a firmer tone to the live
cattle market. under Il fairly good
demand for choice fat cattle. Re
ceipts at sSckyards fair. but very
light at wharves. Quotations today
at Light street wharf:
Beef cattle. first quality, per lb.,
,a7 e: medium. 5saGi:: bulls. as to
quality, 3i.ao: cows. CHOICE to fancy.
4l.a5: common to fair. 2a4: oxen. as
to quality. 3a41 y: milch cows. choice
to fancy. per head. 50.O0a 1900: COM
mon to fair. per head. 3O.o o0a40. 90.
Calves. choice. handyweight veais.
H.. IL; choice. fat heavy veals. 9l2a
10: fair to good, 9a9ia. heavy, smooth
fat veals, 7aS: heavy rough calves,
~6a7.
Lambs and sheep-No. l sheep, lb..
4a6: fair to good. 3i.a4E.; common.
choice, per h., I3a14: fair to good.
10al2: common, thin. Sa9>
Hogs. straight, 10al1: sows. as to
quality. laS: stays and boars. oa6;
live pigs. as to size and quality. la
Is: shoats. as to size and quality,
I0a11.
CHICAGO. March IL Omitted States
b, eiu Of markets).- ).-Cattle-Re-
ce:pts. 500 bead: compared with week
ago beef steers steady to - higher:
strictly good and choice grac"s show
ing the advance: extreme ,op for
week. $40: she stock. 25a40 higher.
with fat cows and heiferS up most
bulls steady: light Vealers. unevenly
lower: mostly SO off; stockers and
feeders. 10a1J higher: common and
medium grades slow.
Hogs-Receipts. 1000 -head:e light.
10a15 lower: others steady to 10 low
er than Fridays ave >'"n' bet -
grades fairly active; heavy mixed,
slow; shippers bought about 1000
head; holdover moderately light:
bulk. 10.50al1.00; pigs about steady;
bulk. desirable 100 to 1875 Founders,
9.25a9.50. with stronger weights up to
1O.0Ga10.25.
Sheep-Receipts. 5000 head: today's
receipts practically all packers direct
Compared with week ago best heavy
weights, fat lambs and shearing
lambs about steady: yearlings and
weighty lambs steady to 25 higher;
matured sheep mostly SO up.
NEW YORK, March 11.-Cattle-
Receipts. SIS head: no trading.
Calves-Receipts. 1876 head; firm.
Veals-9. 9.00ai6.00: culIs, 7.00a8Oo.
Sheep and lambs-Receipts. 2,1OO
read: steady. Sheep 50aS50; culls,
3.00a4.o0: lambs, 11.0Oa16.5O: culls.
S.OOa9.O0
Hogs-Receipts, $3.50 head; steady.
Medium to light weights. 12oOa1215:
W hogs, IL. .0a11.90: roughs. 950a
Evening star., 1922-03-12
CEREMONY ABANDONED.

BALTIMORE, Md, March 1.-THE
ceremony of comforting the paliium
abandoned because the cathedral is
inadequate to hold the throng thai
desired to attend, it was announced
The date had been fixed for April 81.
More than thousand priests be,
sides archbishops and bishops had
notif,ed him they would be here Tor
the ceremony and thousands of re
quests for tickets had been made.
the head of the Baltimore archdiocese
when Mgr. OHern received the pal
lium from the late Pope Benedict as
the archbishop's representative.
Evening star., 1922-03-12
Commodity Reports
From Various Sections


SAN FRANCISCO. March II tSpc-
ciaD.-An increasing demand for
lumber reinforced by short cut.
indicates higher prices in the nca"
future according to lumbermell. The
recent visit of eastern lumberEicu to
the coast has been followed by
demand for California red wood IN
the east and middle west. japan.
Siberia and Australia are buying
freely.
DETROIT. March II CSpeciaD.-
Fruit orchards in northern Michigan,
which appeared to have suffered Sc
rious damage in the recent ice storm.
are now believed to have come
through with a loss of only 10 per
cent of bearing capacity. Cnpruned
apple orchards suffered the most and
cheery trees the least
LONDON. March II tSpeciaD.-
Practically all of The steamers
launched at the Clyde shipyard since
January ! have been constructed II
use oil fuel.
CLEVELAND. March IL lSpecialp-
Ohio shoe dealers are of the opinion
that shoe merchants this year vii!
carry smaller stocks than ever be-
fore. They will handle a larger as
sortment of sizes. but fewer styles
The dealers, it is said. now have dis
posed of ali high-priced inventories
Flour.
NEW ORLEANS March II Especial.
Flour shipments through this poii
for export in 1921 amounted to nearly
3.02J.000 barrels, exceeding all pre-
vious records. The larger portion Of
this amount. which went 10 forty
different countries, came from the
millers of the middle west.
LinoIeums.
PHILADELPHIA, March II tSpc-
cial).-Linoleum makers here HAY"
booked large orders. indicating that
retail dealers are expecting good
trade in spring floor coverings. Prices
are firm.
ST. LOUIS. March II tSpccialD.-
Illinois mine workers have notified
executives of operators that if there
is no national conference prior To
March 81 they will confer with the
Illinois operators. as they are unwiii-
ing to drift into a strike.
Bread.
ATLANTA, March IL (SpeciaD-A
local bakery has increased the price
of loaf of bread from 10 to - cents.
This advance so far has not been fol-
lowed by other bakers.
Notes.
DETROIT. March II Especial An
indication of how 1922 business com
pares with that of former years in
this territory is shown by reports of
a metal machine belt company, which
in 1920 sold a trife over one million
dollars worth of its products i'll
Michigan. In 1921 it sold but 100000
worth. while its business for the first
part of this year has been at the
rate of 100000 year.
ST. PAUL March IL (SpeciaD.-Rail-
way traffic. in the northwest suffered
! somewhat from the recent heavy
SHOWS, but for the first ten days of
this month indicated steady gain
Coal and lumber and iron ore are
moving in increasing quantities
Evening star., 1922-03-12
AVERAGE PRICES UP AGAIN.

NEW YORK. March 11.-Bradstreet's s
average of commodity prices for
March 1 shows an increase during
February amounting to 1.5 per cent.
This is stated to be the eighth in
crease shown in the past nine months.
AS compared with June I, 1921. the
March average shows an increase Of
S.5 per cent. AS compared with the
highest average on the record. that
of February 1. 1920. there- has been
a decrease of 44.4 per cent.
The present index number stands
332 per cent above the average of
August 1. 1914, whereas the index
number of February 1, 1920, marked
an increase over that same date of
1895. The Bradstreet report shows
that during February, out of thirteen
separate groups of articles included
in the average, advances were made
in breadstuffs, live stock. provisions.
textiles, oils and chemicals, against
which there were declines in hides
and leather, metals. coal and coke,
naval stores. building material and
miscellaneous goods. The average of
fruit prices remained unchanged.
Evening star., 1922-03-12
TREND OF PRICES
: STILL IS UPWARD
Popular Shares Exceed Prior
Records Speculative Is
sues Dominate investments.

NEW YORK. March 1.-THE ad-
vancing trend of prices on the stock
exchange was continued this week,
with occasional setbaclas. many popu-
lar shares exceeding previous high
records of the year. Speculative is
sues overshadowed investment stocks
BOTH in, activity and extent Of gains.
The movement derived much Of It's
stability, however. from the progress
s.ve demand for dividend-paying
rails.
The most constructive influence
was the higher price schedules
adopted by a number of Independent
steel manufacturers, their action oe-
speaking confidence in the immediate
future of that industry. Similar tend
encies were observed in the auto
mobile and copper trades. and among
foodStuffs the better inquiry for sugar
was accompanied by an upward re-
vision in the raw and refined prod
ucts.
Ignore Financial Statement.
Traders ignored the many unfav-
orable 1921 financial statements.
nearly all of which revealed drastic
reduction of inventories. Almost the
only favorable exhibit for that period
was the statement of the Studebaker.
which reported the best year In its
history.
Tonnage movements on leading
railway systems were generally In
excess of the corresponding week OF
the last two years. Steady accumu-
lation of some of the secondary
transportation stocks. particularly
Ann, Arbor common and preferred,
and several of the cheaper coalers
revived rumors of mergers or change
of control to new and stronger in
tertsts.
Lower money rates stimulated the
markets speculative operations and
accelerated the underwriting of new
corporate offerings. as we'll as mu-
nicipals, notably the new city of
Detroit and several Canadian issues.
Foreign Exchange Reversal.
Foreign exchanges sustained sharp
reversals. mainly in consequence OF
the British crisis in India. but the
movement did not extend to far east
ern remittances. those holding firm
fer the most part.
The demand of the United States
government that its Rhineland army
expenses be met out of the German
reparatiOns payments injected new
element into the European economic
situation. Bankers were of the opin-
ion. however, that the allies would
yield to the Washington government.
Evening star., 1922-03-12
BOND MARKET is MIXED;
AVERAGE PRICES HIGHER

NEW YORK, March 11.-Bond mar
ket movements during the week were
somewhat mixed, but the average of
prices, was materially higher at the
close, utilities and several of the for
eisn industrials contributing to the
better tone.
Strong features of today's moderate
but varied operations included Amer
lean Telephone 6s which rose 1h
points, and Cuban Cane Is and IS at
3-pont advances.
Foreign governments and munici- :
pals showed almost equal gains and
losses, Mexicans featuring the reac-
tionary side, with stronger tone for
French 8s and United Kingdoms.
Trading in liberty and Icoa is
sues was nominal and the final tone
in that quarter was uncertain. Total
81 es (par value) aggregated $S,794.-
OOO
Evening star., 1922-03-12
NEW YORK DRY.GO0Ds.

NEW YORK, March 11.-Wide
sheetings were revised in price to a
basis of 5s cents for 1914 goods.
Some of the narrow bleached muslins
were placed on memorandum with
prices to be on a lower basis when
made. The demand continued light,
although about 5000 bales of brown
sheetings~ were sold this week for
export to near east ports.
Yarns were irregular and quiet,
with curtailment threatened in some
mill centers. Linen markets were
steady. Staple cotton hosiery prices
were made on a lower basis, no
change being made in wool or silk
goods. Underwear was quiet except
for a spot demand for light weights.
Wool goods were quiet and silk un-
changed.