davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1922-06-18
Bond Issue Carried By
Fraction of One Vote

MORGANTOWN, w. Va, June IT..
One of the strangest elections over
held in West Virginia In that the
issue was decided by about three
fifths of q single vote, has just been
held here. A special election on the
qustion Of issuing $750.000 in bonis
for street improvements and a mu-
nicipal building was carried by the
narrow margin Of .6004 Of a vote. ac-
cording to expert mathematiciaDs,
the unusual result arising from
West virgipia's constitutional pro-
vision that Ill bond issues must be
approved by three-fifths of the vote
cast. Three.fifths Of the total vote
cast would be 1.130 rs, while the
vote for the issue was 1,131.
The question is not likely to re-
main settled by this balloting. as pro-
tests have been made that many
could not vote because they had not
been registered under an inadequate
registration provision? and steps
have been taken to hold the elec.
ton over again.
The Washington times., 1922-06-18
PEEL|NG CASCARA
BARK PROFITABLE
SkiIIfuI Natives in Washington
State Earning $40 to SIS
BY Days Work.

HOQUIAM. Wash, June ia
half million dollars was the value Of
this seasons cascara bark, harvested
by Grays Harbor folk. It is the peel.
ed leather-like skin of the barberry
tree, stripped by settlers and city
dwellers who spend six weeks each
spring in the swampy forests near
here.
Six years ago this bark gathering
industry was a babe, the few who at.
tempted to sell the peeled bark get
ting from to 4 cents per pound for
it-not knowing just how to properly
cure and pack 1t.
Then came the drug famine. The
wholesale price which has gradually
been rising is now Is cents per pound
and skilful strippers make $40 to SIS
per day. With a knife an incision
10 made near the ground and q piece
Of the bark loosened there may be
pulled from the tree upward for ten
to fifteen feet. Taking but a part Of
the bark does not injure the tree.
Much of the bark harvested 10
done over week-ends by school.boys
One load brought here recently in a
farm wagon represented ten days
work for two sturdy lads and sold for
$50.
The Washington times., 1922-06-18
BUSINESS MUCH
IN FALL,
|. THINKS BARNES
President of U. S. Chamber Of
Commerce Sees Prosperity for
Farmer and Merchant.

Improved business tuith Europe
In the fall is predicted BY julius
II. Barnes, netUly elected president
of the United States Chamber OF
Commerce and one of the largest
grain dealers in the World.
Mr.. Barnes prophesies optimts-
ticdtly for both the farmer and the
business man in the following
article.
BY JULIUS II. BARNES.
President United States Chamber Of
Commerce.
Copyright. 1922. by Cosmopolitan News
Service.)
1t is possible to speak with entire
sincerity of the improving business
outlook.
The farming position Is distinctly
healthier. Farm products such as
cotton. wool, and hogs are at pros
perity levels, and other farming
products have in recent months dis
tinctly gained in price from the de-
preston basis. The coming crops are
being produced with considerable
economy Of cost, and when they are
gathered and marketed the ability of
farming communities to buy from
other Industries will be distinctly en-.
larged. 1t is already improved.
The interior commerce Of Europe.
on which the activity of their own
industries depends, is distinctively re-
viving.
This Is indicated. for instance, by
the railroad tonnage figures of Po.
land, which tonnage Is now in excess
Of the pre-war record, and is necessi.
tating the purchase of additional en-
gines and cars to care for that re.
viving traffic. On this reviving in.
terror commerce of Europe 10 based q
great potentiality Of increasing pay.
rolls which enlarge the buying power
Of their own people and thus the
European demand which absorbs our
surplus crops and also the surplus
production of many Of our industries
Is distinctly reviving. The clearest
indication Of this is the steady ap-
proach to the gold equivalent by
many foreign exchanges. particularly
the great indicator of British ster-
ling.
The significance Of this Is that II
not only indicates an improved finan-
cial and economic position on the
part Of our best customers, but clso
the expenditures of their own people
for American purchases will be i'm
proved this fall with less strain at
home and less effort than in the
three years past.
Every business man and every
farmer can devote themselves Ia
their particular production now with
Increased confidence that the con.
Stunning market will enlarge and i'm,
prove.
The Washington times., 1922-06-18

to the creating of a better demand
for the outstanding war loans.
Bond Market.
Foreign government bonds have
also been in good demand, interest
centering this week upon the three
listed issues of Mexican 4 and s per
cent bonds. The international bank
ers who have been comforting with
the Mexican finance minister on the
subject of Mexico's debt. have for
tunately reached a conclusion which
seems to be satisfactory to all con-
cerned. The leading features Of this
agreement are: That cash payments
are not to be made on overdue cou.
pons, and they are to be deposited
with a trustee for future adjustment;
cash payments on the various bond
issues to be begun after January l.
1928; Mexican government to assume
by Endorsement all of the railway
debt not previously guaranteed: all
classes of bondholders to agrae to
temporary suspension of sinking
fund rights during a five.year period.
Important developments have
featured the international money
situation. The Bank OF England re-
duced it's discount tate from 4 to
3h per cent. Rates on prime bank
ers' acceptances have declined to the
lowest figure in over four years.
Time money has been freely offered
at around 3% per cent. Call money
has been in good supply AS low as
per cent, Notwithstanding that
brokers' loans are unusually large.
A number of the Federal reserve
banks are said to be contemplating
further reductions in their discount
rates and have already passed along
the suggestion to the Federal re-
serve board at Washington. 1t will
not be surprising II the Federal Re-
serve bank of New York announces
a cut in it's rediscount rate during
the coming week.
Developments in the realm OF
business and economics during the
past week were all of a constructive
nature, indicating further progress
towards normal conditions. All OF
the week end reviews are cheerful
and hopeful, none Of them over
enthusiastic.
The Washington times., 1922-06-18

II mas been interesting 10 lolioW
the developments in the market dur
ing tho past month and to consider
the effect of various factors upon
the movements of prices. The
weeks have been practically devoid
OF features that might be expected
to cause violent movements but
there has been no halt to the piling
up of favorable economic and bust
ness Developments which in the
long run must result in firmer and
more substantial financial position
for the representative industrlals OF
the country. During the past week
we have had ample evidence Of
the returning stability of a number
of these companies by the declara-
ton OF extra or initial dividends
and tie notable additionals which
they have made to their facilities
for larger business in the future.
Drop Was Due.
1t has been quite apparent the
upward swing in price in the list
market could not continue at the
rate which was inaugurated in the
early part of the year. Statisticians
and Wall Street dopesters are always
ready with their charts and dia.
grams to show that never yet have
prices swung from the bottom to
the top in a continuous movement.
They point with satisfaction to the
fact that each reaction improves
the technical position Of the market
and transfers stocks from weak
holders to those who are more able
to weather a storm.
Should there be a further upward
movement'in prices, the action Of the
market in the past week fully demon
strates the accuracy of their state
ment. From the opening gong on Mon
day morning the tendency has been
unmistakably in q downward direc-
ton. Mondays losses ranged from 2
to 8 points In the active list: on Tues
day and Wednesday about half Of
these losses were made up; on Thurs
day another violent decline featured
the whole list, and or point losses
were chalked up against the spccula-
tive leaders; on Friday the market
was ushered in by another mild de.
cline, which, however. terminated be.
fore the close of the day and a good
many speculative stocks regained a
point or SO Of their losses.
49,. Stocks Decline.
Taking the week as a whole, how
ever. the net result Is expressed by
= plurality by minus rather than PLUS
signs In the active stock list, as will
be shown by the following tabulation.
which offers a comparison of prices
at the opening Friday, June 9. as
compared with the closing on Friday.
June 16. A more impressive CON-
parison could be shown by taking
the high and low Of this oeriod, but
the figures as submitted are more i'm
portant as showing the net results
Of the weeks rise and fall of specu-
lative stocks.
The Washington times., 1922-06-18
sEx-dividend.
Mexican "Pete" Up.

It will be noted that a small
number Of the market leaders are
not included in this list, notably
Mexican Petroleum. which because
Of special developments, registered
net gain of over eight points;
figuring the SO quarterly dividend
which was declared during the
week but which has not yet been
paid.
New bond issues brought to the
market during the past week ag-
gregate about S81, 900, 900 and in.
ciude one prominent foreign loan,
that Of Jueo-Slavia forty.year 8 per
cents; $4,000. 900 Industrial, includ-
tng t15,000,000 Atlantic Refining
Company ; per cents and $3.50, 900
Van Sweringen company five per
cents; I'll, 100000 railroad. the
Cleveland Union Terminal 1-2's;
t12,Soo,000 public utility. including
37,000,000 public service company OF
Northern Illinois and $4,000, 900
Manchester Traction Company and
ss.SO0.ooo State and municipal, the
largest OF which are the $4,000, 900
New Haven, Conn, issue of 4 and
~ per cent bonds. ~. ....#
Investment bankers are not as
enthusiastic over the market for new
bond issues as they were few weeko
ago. They point to unmistaixable
signs Of market indigestion as ex.
Nbited by the large number Of bonds
-Dgich the dealers still have on their
shelves and by the return Of large
blocks OF new bonds to the Wall
street market.
On the listed bond exchange the
most satisfactory feature OF the
past week has been the steady ad-
vance IN Liberty bonds. some of the
insues registering new high prices
for the year. The activities Of the
foverRment I'm the market and the
rapid absorption Of new Government
offerings has doubtless Contributed
The Washington times., 1922-06-18
Premature Plum Picking
Makes Quality Lower

The demand for California plums
could be expanded considerably IL a
uniform high quality product were
put upon the market, according TO
Because of a desire to reach the
early market and secure the high
prices paid for the first few cars
Of plums shipped. the department
stated, there has been a tendency
among shippers in recent years to
pick the fruit in a greener condition
with each succeeding season.
The Washington times., 1922-06-18
Busy Farmers Excused
from Services on Juries

TWIN FALLS, Idaho, June IT,.
Juries In the present term Of the
district court here viii include no
farmers, unless they themselves
waive claim for exemption on the
ground that farming operations de-
mand their attention, II was indl.
Gated when Judge w. A. B1bcock
excused from jury service nine out
Of eighteen citizens summoned as
turymen for this term. -
Each of the nine said the late
spring had delayed work 80 that his
presence on his farm was necessary.
The Washington times., 1922-06-18
Stock and Bonds Slump
During the Past Week
Speculative Issues Have Been Gradually
Sinking and Spectators Have Been
Losers By the Operation.
BY w. s. COUSINS.
1929. by the International News Service

International News servieeo
NEW YORK. June 17-It makes little difference py
what technical movement of the stock market IN the
past week may be primary or second
ary reaction liquidation profit taking, major or minor
swinghe plain truth is that prices of speculative stocks
and bonds gradually sinking and the rank and file
of specuators have been losers by the operation
The Washington times., 1922-06-18

hhc 10 a typtSai lCIlcI, I'll
gent inquiry. What is the answer?
Could we improve the peoples in.
come by getting a new system of
business? Perhaps. But 1t would
require fifty years to try the new
system, and the present generation
of bread-winners would receive no
benefit.
What then? Hard work-save
money-be less extravagant. That
advice Is threadbare. Let 1t pass.
Produce larger crops, get more out
of the soil. Nine or ten countries
get larger crops to the acre than
does the United States. Some of
them produce twice as much. But
our Improvement is a slow process.
though 1t is going on all the time.
Bring under cultivation the 200,-
COO, 900 acres of usable land that
still lie idle. That is another sug.
gestton. Extend the railroads, open
up new country, drain off the idle
from the great cities. give the peo-
pie productive work on new terri
tory. That is still another.
Business Enterprise.
But what do all these suggestions
come to? What is the one big thing
behind them II they are to mean an
increase Of national and family in
come to comfortable proportions?
The one big thing is enterprise, busi-
ness enterprise. and, with enter
prise. the capital or money to keep
enterprise moving.
We have heard more about enter
prise than about anything else in
American business ever since this
country began doing business at all.
What is It? Or, better still, how
does 1t work? In this way:
Nearly 100000 acres Of sage
brush and dust lay in twenty.six
localities Of the great West twenty
years ago. These acres were good
for nothing except to hold the world
together. Nearly equally useless
water ran to waste. BY enterprise,
by the pioneering spirit in business
by the foresight and sagacity that
inspire men OF affairs to work as
hard for the future as for the pres
ent. the waste water and the waste
land are being brought together and
already, with the irrigation projects
but partly completed, $500, 900 900
has been added to the solid wealth
Of the country.
Farm Wealth.
But that is not business; 1t Is
farming. 1t adds to the farm wealth
and income, but how about the rest
Of US? Just this:
There lies before the writer a map
of the Salt River valley territory,
showing an irrigation project with
its new community and the lines of
trade marked to the rest of the
United States. What story do these
lines Of traffic tell? A total Of 1885
cars Of business products drawn
from every State in the Union-s7
from New York, 80 from Penn
syivania. 457 from Illinois, $500
from California. And all this IL
new business that means new bust.
ness wealth and new business In.
come.
We have the men, we have the
tools. we have the territory. All we
have to do is to add the enterprise
and the triumph Is ours. We then
shall be able, without waiting for
any distant miracle or doubtful ex.
pertinent, to produce not only $40.
The Washington times., 1922-06-18

900 ,0O0, 900 a year, but ST. 900 .000,-
900, or even more, within the lives of
many who read this page today.
The Washington times., 1922-06-18
American Production
Soon To Be Increased
Hinman Predicts That the United States
Will Increase It's Production from Forty
to Seventy-five Billion Dollars Year.
LATEST NENS
OF FINANCIAL WORLD
BY GEORGE w. HINMAN

CHICAGO, June 17-Your statement that produce only
100000 of income year and that have 25,O00
600 families to live from has caused to think good
DEAL writes F. H. Kup, of Battle Creek II do not feel
that system of production and distribution is right
when we produce SO little wealth annually"
The Washington times., 1922-06-18
RATIFY U. S.-cANADA PACT

Secretary OF State Hughes and Sir
Auckland Geddes, the British ambas.
sador, yesterday exchanged ratifica.
tions Of convention between the
United States and Canada concern.
ing the tenure and disposition of
real and personal property. The
original convention was entered into
by the United States and Great
Britain In 1899, but had never been
recognized by Canada. The new con.
vention became effective yesterday,
The Washington times., 1922-06-18

vscation days win Do happy n
ycu get The Daily and Sunday
Times regularly. Let Washington's
most popular paper follow you 20
the niountains or seashore; et. cents
Q month Or &e5o for thrns nonfhs.
The Washington times., 1922-06-18

WE BUY, SELL AND QUOTE
sscuritiss Of svsry dsscription that
l ere marketable. II you want % nY
DiEMEB n m 1915 81. NV.
NlE.NlEN - S0sMashinEtan .; e
The Washington times., 1922-06-18

The next Few years promise to
bring interesting DEVELOPMENTS
among the personnel Of high finance.
After much arguing and counter.
arguing the Mexican finance minis.
ter and the international bankers
representing Mexican bondholders
have reached q compromise agree.
ment. They were quite far apart at
the start Of the conference. The
bankers wanted what De Ia Huerta
regarded as Gar too much. And De
la Huerta offered what the bankers
regarded as far too little. There
were days when a deadlock appeared
inevitable. The issues at stake. how.
ever, were 20 tremendously important
and such high hopes Of a settlement
had been formed that neither side
relished the idea of q rupture.
Gradually o give-and-take spirit
began to manifest itself, and final
ly all points were settled. The
terms OF the settlement are likely
to be hailed both In Mexico and
In other countries, 'as reasonable.
although neither borrowers nor
lenders win probably feel disposed
TO throw their hats In the air N
exultation. 80, !. =
scspyrisht isss. -ss n c-rsrs.s,
Every evening, Wilmington daily commercial., 1922-08-25
zAR|NG AND MARTIN
TO BOX LABOR DAY
Fine Card of Bouts Scheduled
to be Staged at Kennett
Square Club.

The Kennett Square Club will stage
an all-star boxing show, on Labor
Day. just outside OF the borough line.
air and will settle several disputes as
to who Is the real boss of the different
classes in Delaware.
The wind-up viii see Joe Martin.
local welterwelght. and Young Ear
ing, formerly of Reading. but now of
this city. The winner OF this bout
viii be I'm limo for the State welter-
weight title. left vacant by Ralph
Raymond. Martin is well-known in
this city and has fought some very
good battles around these parts His
opponent, Earring. although an un-
known quality in this section, Is ex-
pected TO make a good impression.
Olen Hackett. manager of Earring.
is confident that his man will return
a winner.
The semi-windup will bring to-
gether X. o. Brommall the Eastlalte
bear cat and Kid Michaels, of Marcus
Hook. This bout will he Bromraall's e
first fight for long time In Mlchaels.
Brommall meets one of the toughest
welterweights In Delaware county.
The third bout Of the program will
bring together Lenny Sullivan and
Johnny Doyle, both of the Ninth
/ Ward. These two battIers will vie
for tho honors of that section of the
city. II is expected that a lnrge dele
cation from the northern section OF
the city will witness this battle.
The second bout will find Pete
Devine against the best featherweight
of the city, George Morrow.
The opening card will be between
lid johnson and Battling Breadon
Both boys are from the Engineer
Regiment at Fort du Pont. This du,
has a long standing dispute and the,
are anxious to settle the question in
the ring. This bout alone should
draw large number from the Fort.
The matches now arranged ar,
about the best ever carded between
local talent and should tho weather
man be fair on Labor Day. the larg
est crowd that over attended a sport
ing event in Kennett Square. will b.
In attendance.
Every evening, Wilmington daily commercial., 1922-08-25
GENE TUNNEY WINS !
BOUT OVER L0UGHRAN
Earl France Goes to Oreamland
at Hands OF K. o. George
CLANCY.

Philadelphia. Aug. 26.--Gene Tun-
ncy OF New York. former lightweight
champion OF America. defeated Tom
my Louxhrsn OF Philadelphia. in an
eight round bout at tho Philadelphia
National League Baseball Park last
nlght. Tunney weighed ia pounds.
and Loughsan was ten pounds lighter.
Tunrcy landed hard right on Lough-
rams Jaw In the first round and Tom
my went down for "A count OF nine.
Loughran came back gamely and
made great battle. go much 81
that some sport writer's were inclined
10 Judge thu match a draw. Tunney
wa~ bleeding from the mouth and nose
much OF the time. Loughran took the
offensive In the last round. but Tun-
ncy's body blows had him weak IN the
fnal minute
George Ok. o. Chaney Of Baltimore,
,35 pounds. knocked out Earl France
OF California, in the second round ol
their bout
phia. won hy comfortable margin
from Ear Baird of California.
joe Tiplitz of New York, beat Willie
Herman OF Paterson y. J. T1put2
scored knoc lSdown in the second with
left hook. In later rounds repeated
body blows had Hernan weak.
Pal Mran of New Orleans ano
Harry Kid Brown OF Philadelphia
boxed six rounds TO a draw.
Every evening, Wilmington daily commercial., 1922-08-25
RECORD BREAKING
CROWD At SALISBURY
Fair Attendance "a 1000; Horse
Races Attract Considerable
Attention.

Salisbury. Md, Aug. 25-Egh-
teen thousand people, according to es-
umates OF the management, attended
the third day of the Salisbury Fair.
making the total for the first three
days more than $4,000. Ideal weather
and fast track prevailed. Lulu Wood.
owned by w. J. Daugherty, Norfolk,
Va, proved 10 be the class of the 2.17
pace. taking each heat. Six heats were
necessary 10 determine the winner OF
the 2.l0 pace. which was the fastest
race on the program during the week.
and In which Tonka Patch, owned by
p J. James, Kendall Grove, Va, was
the winner.
Nine entries contended for the
225 trot purse. In this the third
Virginia horse carried of the honors
The summary:
FIRsT RACE .2I5 TRoT-PURsE $50.
Lqis Har,SIS MS0d Va w. J. Daush'rty'
Nor%an M1aa2. A1ysrthy yS Il. j. walk. l
Fsiims 81 seAs xswortsy. ArSsV' " v. L. Bull.
oSsd l'Fi Frey S. II. Fox B.iti;
Elsie N @. T. saterneid. Do:
sf5SsB SiSs sii1; A11;aHa,iJ PA1cn-puasn
5000.
TonAa Patch II. James,
Kendall Grove. Va. 2 z
Cherry willis; w. L.
Bull, Nslfa. Va. 49,. I
thur Grow, Middle
town, Del ..........S Il / 2
Time, 1.l7H, 2.l2AY i.l2t. 2.14h
1TrHfkp RlcE-aas TRor - PURSE
Ms. roadl.s, W. .'SS. =. M.pp.
s,s:s4 ss'Ih.E:Sl; p.l;.v,s, y; stock Farm ( !
B.iIhsy:n, v. ;..a,,;,;..... q 5 3
snoE Al!l. Ad. 1890. 2 4
osoSss s'Elf3s; E5Sry: wv W. j. Wat.
kins, Cambridge Ld,..... 9 DR.
Every evening, Wilmington daily commercial., 1922-08-25
BETzMER WILL NOT
| RETURN TO DELAWARE
Big Athlete Enters tho Coast
Guard Academy for Three
Year Course.
Special Correspondence. Every yv.n,ns

Special corresDondenos Every rv.n'nS
Newark. Aug. 2b.-Henry =. Ho,znor
star athlete for the past two year.
at tho University Of Delaware in a
letter 20 a local friend states nat be
has entered the Coast Guard Academy
at New London. Conn. for thre.
year course leading % q commission
I'm the Federal Coast Guard and con-
sequsntly he viii not return - Deia-
ware for the coming year Frank
Leamy. another former Delaware stu
dent and athlete. may enter the same
school.
Beizmer was star IN tho iavrnn.
discus and shot put and % wnH large
~ his work In these three events that
gave Delaware crack trark team
the past two years He hold nc Md
die Atlantic states Collegiate cham
| pionship for the isveiin throw with
mark Of i7g feet inches Hs was
at Delaware two years. coming hero
from PerkiOrnen Hls first year he
/ played end on ihe footbail team bat
owing % n Disagreement with ne
coach did not play last year.