davidaulloa/AmericanStories huggingface dataset:
, 1922-05-23
SHORT COURSE IN BONDS NO 2
By John U. Fish.

Differentiating between active In
vestment. which might aptly be called
railroading, manufacturing. exporting
in fact, the various lines of industrial
activity which r productive of new
goods or the movement Of goods al
really manufactured as against pas
siy investment, which might be call
ed bonds, mortgages. notes. stocks.
commercial paper n acceptances.
Tho money, which heretofore has
been employed in active investment.
following the slump In commercial a C
tivity. sought the only natural outlet
which was passive investment in or
der that the funds might be produc-
tive of earnings. In Juno, 1921, this
volume OF money began to seek in
vestment channels. causing a turn IN
the bond market and Incidentally, a
rise in the price Of investment secur
tiles. A bond, which in It's simplest
form is q subdivided mortgage bear.
ing a given rate. must. II the price
of money reaches a rate higher than
the rate borne by the bond. sell at a
point below par, and, inversely, IL the
price OF money is al a lower rate than
that rate borne by the bond. then the
bond must sell above par. During
the period from 1917 to 1921, money
rates were at q high level. with the
result that the majority of bonds had
to sell at point below a hundred in
order to return a yield commeHsu'
rate with prevailing none rates.
Since June. 1921. money rates have
steadily declined, with the result that
the bond market has experienced q
rapid rise which rise should continue
in the opinion of competent authori,
ties. This rise has not yet reached
Its apex because there are still in.
creasing quantities of money offered
for investment. The natural conse
quence OF such a reaction as we have
gone through and are going through
is that manufacturing is carried on
on a lessened scale. Less one is
needed o turning out a given art
icle today than was needed to turn
out such an article three years ago
and it's the money represented seek
fng h investment market Also cor.
porations which increase their work.
ing capacity in tho way of additional
forth, are now curtailing rather thar
labor. machinery. building and SC
are now curtailing rather than ex-
expanding with an additional release
Of money. All of this none must be
put at work n the logical outlet is
bonds and investment securities.
There was a good deal of dissatis.
faction entertained by many people.
, 1922-05-23
STOCK MARKET
TRADING ACTIVE
Standard Oil Issues Among
Leaders in New York
Session Today.

NEW YORK. May s3-Recoveries
from yesterdays late reaction in the
stock market. due to the furry in
call money. were quite general at the
opening Of today's session. Independ-
ent stcels and some domestic oils
were the strongest features with COP
pers. tanscontinentaI rails. and coal
ers- Republic Iron soon rose tx
points and crucibIe Steel gained iX.
Virginia-Carolina Chemical made up
n better part Of yesterdays loss and
Assocs=l.d OIL was active at a rain
OF ~ points United Drug. which
had been mentioned in connection
with the proposed merger of several
OF the tobacco companies. rose tx
points. Sears Roebuck. Famous
Players. Atlantic Gulf. Atchison and
Erie first preferred were higher by
large fractions.
The opening rate OF 4 per cent for
call loans seemed to foreshadow FUR
Their stiffening of money rates with
tho progress of the session and
prompted occasional realizing sales
before Aside from the strong
tone of independent steeis. upper
and speculative oils. accumulation OF
Erie issues was h striking feature.
Gains OF 1 to az points were made by
the common and first and second pre-
ferred shares. Reading second pre-
ferred also was strong and the more
representative rails were featured by
Union Pacific. Atlantic Coast Line
and New York. Chicago and st. Louis.
Pressure was directed against Next
EAR Petroleum, u. s. Rubber, Peoples
Gas. Eastman Kodak and Kayser,
those issues locing 1 to IL points.
Standard OH shares were depressed
later but bullish operations continued
in the low priced oils. motors. coppers
public utilities and steels. Republic
Steel extended its gain to 4 points.
Kelsey Wheel jumped five n New
York. Chicago and St Louis. 4 points.
Studebaker. Texas company. Brook
lyn Transit. North American. Phillips
Petroleum. Sinclair oil. Computing
Tabulating recording. CRANKY Copper
and Willis Overland preferred were
moved up between one and two
points
, 1922-05-23
WHEAT RALLY
CHECKS SLUMP
Prices Recover in Late Trad.
ing and Close Is Higher
Today.

CHICAGO. May 2s-wheat prices
moved sharply upward in price today
after considerable hesitancy had pre-.
vailed throughout the first half OF the
board of trade session.. Confirmation
OF reports that several s of
whcat would be moved out of Chicago
for shipment to Europe was the chief
influence Strengthening the market.
The close was unsettled. &c net
hig'.sr. with May $1.57x TO s1.ss and
July s1.25s to s1.2s.
CHICAGO. May 23-Heavy deliv-
cries on May contracts, I'll. 900
bushels. together with big receipts.
400 carloads. put bulls at a disadvan-
tase in the wheat market today dur
ing the carly dealings. On other
hand. absence OF liquidaung sales
gave the market comparative firm
ness ut the opening. Demand. how
ever. was limited and the market
showed n tendency to sag. Opening
prices. which varied from unchanged
figures to half cent higher, with May
sl.s3z and July s1.23z to s1-24M,
were followed by a little further up
turn for May and then by a setback
all around to below yesterdays I'm
ish.
Announcement was MADE tha rail
roads west OF here had ordered wheat
shipments to Chicago rushed on n "a
hour schedule from Missouri river
points to Chicago. Subsequently.
though. improved prospects fer h
movement eastward from Chicago led
to enlarged buying and to higher
values, May delivery showing tempo
ariiy an overnight advance Of 5 cents.
Corn and pats were Easy with
wheat After starting unchanged to
sc iowcr. July e3xc to SIC. tho corn
market declined a little for all deiiv-
cries.
Advance Insured when the wheat
market developed strength. The close
was nervou at n shade off to &c gain.
with July 64Isc.
Oats started unchanged to nc
lower. July 3shc to 3s%c and then
suffered a slight general setback.
Lower quotations on hogs weak
ened provisions
, 1922-05-23

NEW YORK. May 23.-Great Bri-
tain demand $4.44%; cables s4.45; 60
day bills on banks s4.42&. France
demands .o4; cables 9.o4h. Italy de-
mand 5.I3h: cables 5.14. Belgium de
mand. $685.: cables s.35h. Germany
demand 33z: cables s3z. Holland
demand 1855; cables 1890. Norway
demand 1920. Sweden demand 25.so.
Denmark demand 21.30. Switzerland
demand 1909. Spain demand 1892.
Greece demand 42o. Poland demand
OPS. Argentine demand 1887. Mon
treal 90 3-16.
, 1922-05-23

DENVER, Colo. May 2s.-Cattle-
Receipts. $500: market 15c to csc
lower; beef steers. s6.75@s.25; cows
and heifers, S4.75@7.75; calves, $50
11.so; bulls. sS@4.75; stockers and
feeders. s667.40.
Hogs-Receipts 1900; market I5c to
25c lower: top $t0.15; bulk. ss.e5@1o.
Sheep-Receipts. 1900: market Csc
higher; clipped lambs S11@12-a5;
ewes, s7Qs.6o.
, 1922-05-23

Two hundred feet of damaged az
ing remains to be removed from the
well of the Southwest Petroleum com
pany near Saratoga, Wyo., before
drilling can be resumed. The hole Is
now clear to a depth of 2.S00 feet.
The parting OF the casing followed de
strucuon of the rig by fire and other
misfortunes which have delayed the
test.
, 1922-05-23

due to he fall in the market value of
Liberty bonds. If the above law of
supply and demand Is taken into con
~sideration, this matter is easily ex-
planned. Many people felt that the
government should have maintained
the market at a hundred on Liberty
Bonds This was n physical impos-
sibility In view of the fac that Lib
erty bonds were issued at a time
when money was worth from 4 to 5
per cent.
, 1922-05-23
Water Found in wildcat.

Water vas found in the Greybull
sand in the Collins well being drilled
to test the Bonanza field In the Big
Horn Basin. northern Wyoming. IT
is possible that the Big Horn and Jes-
seph interests will consolidate In the
drilling of a deep test on the struc.
tIue.
, 1922-05-23

Dctroit-Wyoming Oil company is
down 3,315 feet with its test of the
Goshen domeS Goshen county, wyo
ming. which will be continued for sew
eral hundred feet II necessary 20 thor
oughly test the structure.
, 1922-05-23

from the Teapot field and not from
Salt Creek were mad by Frank b.
Taylor. geologist and newspaperman
In publications that he represents sew
eral months age. At the time ha
cited that structural conformity in
southern Salt Creek would result in
comparatively smnlI wells as the prop
critics were nea the waterline limits
of the field. He held however, that
due to a break in the Teapot struc-
ture that wells could be SO spotted
that Seapot oil in large quantities
could be derived by such Development
A very rare gas in the air is neon.
Of which a % contains but a tea
spoonful or two. 1t is used for filling
bulbs required to give an orangecol-
ored light.
, 1922-05-23
HOW ABOUT THAT PIANO FOR
YOUR HOME JUST NOW?

Our, stock is complete in beautiful
new pianos in a number OF high grade
pianos, also a fine line OF the best
players pianos. including the worlds
wonder in the marvellous Ampico re
producing plano. Should you De In
terested in anything in the piano line.
drop a line to tho Chas. e. Wells MI
sic company, Denver. Colo. and we
will go the limit to help you solve
your problem. 5-23-3t
, 1922-05-23
Sugar.

NEW YORK. May 2S.-Sugar
futures closed steady: approximate
sales 1000 tons; refined sugar quoted
by one refinery up s points to $5.45
for fine granulated with general sales
from $3.50 to $3.50.
, 1922-05-23

CHICAGO. May 23@U. S. Bureau
of Markets).-Cattle receipts 5000:
market fairly active: beef steers strong
to loo higher; top beef steers 1925:
bulk 1886; she stock and stockers
steady. bulls strong to higher: ask
ing higher on veal calves; fed early
sales choice handy vealers to outsid-
ers s10.ooG10.5o.
Hogs. receipts 2s. 1000: market &C.
tive: mostly 10 cents lower than Mon
days average on lights and 10 to 15c
lower on medium and heavy butchers
or about steady to SC lower than tx
treme close: top s1o.65; bulk s1o.15@
1855. pigs steady to strong; bulk good
ITO to 100 Founders. ss.5o91o-25: pack
ing sows weak: heavy weight $50
pounds up $1o.25 @1o.4o: medium
weight, 200 to $50 pounds. 10000
1865: light weight $50 to 200 pounds
s1o.6o@1o.65; light lights 13o and $50
pounds, s1o.oo@1o.e5. packing sows.
ESQ pounds up. smooth ss-359s-75;
packing sows. 200 pounds right, $500
@s.4o: killing pigs, $50 pounds down
ss.25@1o.25.
Sheep. receipts 1900; mostl Is to
, 1922-05-23

Csc higher; some aged wethers and
ewes steady; early top shorn lambs
S1s.25. best Texas wethers $3.50: best
native spring lambs s11.25; early sales
CALIFORNIA spring lambs SIS .oo@15.4o:
feeder lambs S11.25; vcv2 shrd cmfw
feeder ends s5c higher at s12.s5: choice
California yeanling lambs 5000; Cali
fornia ewes Sis.
, 1922-05-23
Butter and EGGS

CHICAGO. May 23.-Butter unset.
tied; creamery extra SAC; firsts 31h
s3hc; seconds 2sQ2e1kc; standards
54hc.
Eggs higher; receipts 41,1s3 cases
firsts 24G24hc: ordinary firsts. 226
22hc: miscellaneous, 23@23h; stor
age packed extras 27c; storage packed
firsts. 2eh@2e%c.
, 1922-05-23

LONDON. May 23.-Bar silver
ssXd per ounce. Money IN per cent.
Discount rates, short and three
months bills rs per cent.
, 1922-05-23
MARKET GOSSIP AND FIELD NEWS
MARINE OIL ISSUES STATEMENT

A statement of earnings and expenses prepared in con-
nection with the quarterly statement of the Marine Oil com
pany show a net earning that exceeds that of any other SINH
lar period in the history of the company.
The statements follows:
, 1922-05-23

NEW YORK. May 2s.-copper
strong: e~lectrolytic spot and nearby.
lax 913Mc; later. lax 614c. Tin
easy; spot and futures. SCOTS. Iron
steady; prices unchanged. Lead
firm: spot. S5.5o65.s5. Zinc firmer;
East st. Louis spot and nearby de-
livery. s5.15@5.2o. Anthony spot,
s5.3795.5o.
, 1922-05-23

NEW YORK. May 2s.-Cal money
firm; high 4; low 4; ruling rate 4;
closing bid sM; offered at 4. last loar
4; all loans against acceptances az,
Time loans steady. sixty days and 30
days 4@4X; six months Az.
, 1922-05-23

NEW YORK. May 2a.-Foreign bar
silver 72A; Mexican dollars ssh.
, 1922-05-23

Whale sharks. found In the Indian
and Pacific oceans, often attain a
length of 60 feet. but are quite harm
less uALaHhladzzkzzzE
, 1922-05-23
BIOLOGISTS OF CASPER Divided
ON TEAPOT DRAINAGE QUESTION

Efforts to ascertain the prevailing sentiment among geolo-
gists here as to whether or not wells in the southern end Of
the Salt Creek are deriving their production from the Salt
Creek field proper or are receiving oil from the Teapot field
due to a non-conformity in the strata has developed about
an equal number of partisans for each side of the question.
, 1922-05-23
Livestock Mart
Omaha Quotations.

OMAHA. May 23.-U. S. Bureau of
Marketsl-Hogs. receipts 1880; slow.
mostly Is to Csc lower: bulk $50 to 24o
pound butchers s1o.1o@1o.25: top
5000; bulk. $50 to s25 pound butch
ers. Ss.su@1o.1o. packing grades
ss.75@s.75.
Cattle. receipts 1000: beef steers
strong to 15c higher; light and medium
weights mostly at advances; top yearl
ings $3.50; she stock. about 10 to
15c higher; other classes OF stock con.
orally steady.
Sheep. receipts 5000. lambs mostly
so cents higher; wooded lambs s14.so
bulk springers s14.ooQ14.75; clipped
s12.65@12.S5; sheep strong; eve tor
$3.50. feeders steady.
, 1922-05-23
TOUnLey Out On
$4,000 Bonds

FARGO. N. D.. May zs.-By the
Associated Press.HA. C. Townley.
former president of the National Non
, 1922-05-23
Crude Market

partisan league, gave bonds OF 81. 900
in Cass county district court here
Monday in connection with six indict-
ments against him, returned by the
recent grand jury which Investigated
affairs of the Gefunct Scandinavian
American bank OF Fargo.
H.. A. Paddock. Minneapolis. lor-
mer secretary of North Dakota In
dustrial commission gave bond of ST.
900 in conviction with one indictment
charging false entry. This also deals
with relations between the Scandi-
navian American bank and the Con-
sumers United Stores.
, 1922-05-23

The finest Kashmir shawls cost as
much at $500 when bought in that
country.
, 1922-05-23

This Teapot oil is not a character
fit for naval uses So the Sinclair
contract provides tina the government
royalty oil be sold Mt Midcontinent
price and paid for in black of to be
bought in at the market price. AS the
Standard in effect creates and can
maintain both prices, If only indie
pendent reflners are kept from Sc
curing oil in substantial amounts, 1t
will be seen that this provision pre-
sents great value to the Standard.
Since the leasing law passed. the
greatest task confronting the Stand
r OH organization has been to keep
tho United States royalty oil from
coming into the pen market where
Independent capital or refineries may
bid for it.
The leasing law carries a provision
that such government royalty oil
shall be sold, from time to time, by
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1922-12-08

her Lesson, she learned & well. for
she hsd plenty OF time TO think.
Wren she was suddenly stopped IN
her mad rush after pleasure.
But the Outstanding feature Of
the story Is the stand taken by the
laws represented by Thomas
Mehghan. the young district attor.
ney, who takes the attitude that
the law should be carried out to thr
letter. and Justice meted ont 10
rich and por alike; acc6rilng TO tile
otfense committed.
That the offender. in THIS An
stance, was his sweetheart was lost
sight Of, so faS. as his dnty VII
concerned and this OF course t,s
some, seems TO be an extreme
measure that would mot he follow
ed out In real life, but a. a storr
the writer has jut into this phasc
of It the element Of human inter.
est and heart appeal that carrie
the lesson homo as nothins elAo
could do.
Thomas Mslghany Leatrico JoS
and Lois Wilson have the ieadlns
roles, and all have given their bes
efforts to make real The difficult
parts assigned them. aud they Ger
tatnly have succeeded,
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1922-12-08
TlleIpkie

Katherine Mcdonald. Who M
pears at the Dixie today In eTie
1nfidel,n has been given the itic
Of the American beauty of Tia
screen" and many movie fans aay
that they acknowledge that she 4
q beauty, but she cannot act. 81
she has been somewhat handicap
ped by this criticism she says. bal
she intends TO show that beautr.
brains and ability may aii walt
hand in hand to ultimate success.
In the picture in which she II
seen today she shows that she is
making great strides In attainine
her ambition, for she giyes tie
best portrayal in which we haze
ever seen her, and her acting dls.
plays a marked improvement.
1t is a stirring story Of the
South Sea islands. and there arc
many highly dramatl e scenes. one
of which is the uprising OF the
natives against the missionarics.
and tho effort Of the giri-who
has been termed an infidel--lo
save them.
There.are also several good
added features.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1922-12-08
Warrington Personals

Miss Melissa Patterson. teach,
er in the local high school, has
been Ill at her home in Main street.
for the last few days. Mrs. F. @.
Atha is taking her place in the
school.
]. X. swIger OF Martins Ferry,
Ohio, was the guest OF his brother
@. W. Swiger,. In East High stree:
last evening. Helleft thig morning
to spend the remainder Of the week
at the home Of his father, q. w,
Swiger, in Fairmont.
Mrs. okey Metz is III at her home
in Beatty avenue.
Miss Martha Anna Beatty OF
Pleasant street, who had been Ill
for the last few days. Is nearly re.
covered now.
Mrs. Charles Bauman and daugh.
ter, Miss Winnie, were shopping in
Wheeling the first Of this week.
Marshall Matthews was the guest
Of friends in Fairmont last evening
Mrs. G. A. Snodgrass. Of SMain
street has been visiting friends In
Moundsyille fora few days this
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1922-12-08
Miss Dorcas Prlchard, Presi'
dent of Fairmont Club.
Attends Meeting.

MANN1NGToN, Dec. S.-A tenn.
porary organization Of the local
business and professional women
Of Warrington was affected at a
meeting held at the home Of DR..
Phoebia G.. Moore last night. The
organization will be known as the
Business and Professional Wo-
mems Club"
Miss Dorcas Prichard, dean Of
the Fairrhont Normal and prest-
dent Of the Fairmont club, was
present by invitation and discuss
ed the purposes Of the oeganiza-
ton In an interesting manner.
Miss Prichard is a member Of the
Fairmont club, and her experience
proved Of great help to the club
last night in forming plans for the
future.
More than thirty business wo-
men of the city were present, and
everyone seemed very enthusiastic
over the organization of such a
club. The gathering included doc.
tors. nurses, stenographers, clerks
teachers, bookkeepers, postal en-
ployes, telephone operators, and
other professional and business
women.
Doctor Moore was elected tenn
porary chairman, position she
will retain until the first regular
meeting which will be held some.
time in January. A committee Of
five was appointed to prepare a
program for this meeting. 1t will
make its report at another meet
ing yet to be held in December.
The date has not been determind
yet
It was stated last night that
this club is not temporary at-
fair, destined to last only few
months, but here to stay and to do
things"
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1922-12-08
Business and Professional
Wonlaf1S Club Organized
at1Nanningto Last Night

Ibeing-pat on for the eradication o;
tuberculosis.
Mr.. and Mrs Earl Reese AMI
little daughter Mary were visiting
friends in Warrington Tuesday.
Miss 1nez Hixenbaugh is con
fined to her home on Mods Run
on account OF illness.
Mr.. and Mrs. Otto slmms ami
little son George OF Sunshine wera
visiting friends in Downs Wednes
day.
Mrs. Ebert Bailey of Hundred
was the guest Of her aunt, Mrs.
Edna Cumberledge, Wednesday.
Mrs. Stella Taught and her
daughter, Mrs. William Crawford
of Spencer, are visiting at the home
OF NJ. and Mrs. James Brand,
Frank Hathaway, who Is employ.
ed at Fairmont spent a few dnys
at his home here this week.
Mr.. and Mrs. j. Vandervort and
daughter OF Annabelle are visiting
at the home Of the formers sister,
Mrs. Melvin Brown.
Mervin Stillings is suffering from
an infected hand which was in.
jured while fighting the fire which
destroyed the company store here
recently.
Mrs. Charles shuttlesworth OF
Sunshine was visiting friends hero
Wednesday, t.t1I
George Flanagan left Monday for
Wheeling after having spent the
last two weeks as the guest OF his
sister, Mrs. Mary Rudy.
Mrs. Al. Smith was a business
visitor In Warrington Tuesday.
Mrs. Mary Beddick and daugh.
ter Mary were shopping In Man.
nington Wednesday.
Mrs. Edward swiger of Sunshine
was "a business visitor in Downs
Wednesday.
Mr.. and Mrs. A. E. Rothlisberger
motored to Fairmont on business
yesterday.
Ezra TalkIngton and Clyde Talk.
ington were business, visitors n
Downs Wednesday.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1922-12-08
HUNDRED HUI.

Turkey Dinner
The Domestic Service class Of
the Hundred High School served
q chicken dinner for the men work
trg on the new high school build
~ last Friday. A number OF To-
- people were also guests of the
class. 5s7d n
HI Life
The second edition of "Hi Life
the Hundred High School paper,
will be out next week, It was an,
fnonnced today. This paper is edit
ed by the English classes Of the
high school, and contains news OF
general interest to the school.
Nearly $40 subscriptions have al
ready been sold.
Basket Ball"
Both the boys and girls bas-
keith u. teams are practicing now
Ia Issparation for the opening
game OF the schedule which begins
soon. Eighteen boys reported for
DacHce. Several of these are
men who won their letters last
year, including Q. Kennedy, H.
Kennedy, Hostutler, Hunt. Spltz'
nogle, r. Hamilton and Shriyer.
Many Of the newer ones are
showing up well In practice, and
are already causing the older men
some trouble to hold their places
The girls who won their letters
on the girls, team last year are
Hamilton, Parrish, Thomas, Dye,
Booth, Custer, NJ. Hunt, with sew
eral new candidates in addition,
w. C. 7. U.
heWoman's Christian Temper
ance Union met Wednesday eve
ming at the home Of Mrs. William
q. Ritchey. The guest list includ-
ed twenty-one Of the most active
members OF the organization, and
4 very Interesting business meet
Z II was held.
4 Died Sunday
George Maine died at his home
here Sunday after long Illness
assnlting from q complication oil
diseases. Funeral services were
uela 1uebudgr d1LSEuOOut anu III
terment was made in the Butch
or Cemetery. Mr.. Maine Is sur.
ytyed by his wife.
Personals
The infant son of Mr.. and Mrs
Haryiland was buried at Hun
dred Sunday afternoon.
Mrs. Flora Carney spent Wed
nesday in Wheeling where she
was shopping.
* Mrs, IA. Z. Morrison returned
sSunday from a short visit at the
home Of her parents, Mr., and
rs. J. r. Dodds, in Unionport
Ohio.
Mrs. Homer shriver was a bus.
mess visitor in Warrington Tues
daS.
Several cases Of chicken po1
haye appeared In the city lately
Nat nearly all are reported bet
Teri and there Is no likelihood, II
Is believed, Of an epidemic.