davidaulloa/AmericanStories huggingface dataset:
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
USE JACK PINE
FOR NEWSPRINT
Canadian Paper Maker Says That
Wood Can Be Substituted for
DMindiing Snrnce supply.

Montreal. Jan. 27.-Possibility OF
utilizing jack pine for making news
print paper today is occupying the
interests of members of the Cana
dian Pulp and Paper association,
who in recent years, have watched
with apprehension the steady
dwindling of the spruce forests,
heretofore regarded as the only
considerable source of supply for
newsprint.
Use of jack pine for the purpose
was advocated at the association S
meeting yesterday by Maurice Neil
son, who said that his firm, the Bel
gian Industrial Company. Ltd, had
carried on successful experiments
with jack pine under both the sui
phite and ground wood processes
OF manufacture
Mr.. Nelson pointed out that the
depletion of the spruce forests en-
tailed ever-increasingly long hauls
TO the mill, while jack pine is plen-
tiful and cheap. and attains COM
merciaI size 10 years earlier than
spruce.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
CATTLE-TRADE
is SL0W;KOCS
SHOW STRENGTH
(By. Consolidated Pfess.)

U. S. Yards, Chicago. Jan. 81
Light receipts were reported for
cattle and hogs today, but in the
sheep house the run was larger
than expected. Much of the fresh
stuff was direct to packers, 5000
hogs and 1900 sheep being report
ed forwarded to the big houses.
While the fresh run of hogs was
light, sellers had more than $4,000
held over from yesterday, and this
hurt the trade for the fresh stock.
Receipts CT livestock were esti-
mated at 1000 cattle. $4,000 hogs.
1000 sheep and lambs and LOGO
calves. -
CATTLE.
Few good steers were on sale and
the trade was slow. Prices were
steady to weak for all grades. Some
100 pound steers sold at sS.15. Best
cows and heifcrs sold at good
levels, but the trade was slow. Can
ners went at s2.5OG3.00 on a fair
market. but bulls were easy. Pack
ers paid mostly $9.5O01o.5O. for
veal calves, while shipping calves
were weak.
HOGS.
hog trade was strong from the
start. Shippers were the best
buyers, while yards traders also
were in the market. Hogs weigh
ing 1S0@190 pounds sold at $3.50
$3.50, while butchers averaging
2O09 $50 pounds went at $500
$50, Some deals showed a gain
of dime late in the session. with
tip lights at $90009.1O. Few
rough packing hogs sold down to
$500 with good lots at $500.
SHEEP.
Fat lambs held steady, but
medium grades were weak. Choice
lots sold at $13.75a13.S5 with bulk
stock at S13.25013G5. Feeding
lambs were placed steady at
$12.00@12.50 for the best. Aged
muttons sold at unchanged levels.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
WHEAT HIGHER
BUT INTEREST
IN TRADE LAX

Chicago. Jan. 2T.-Wheat devsl-
opell strength and activity along
about midday today. Prices were
higher early but the trade seemed
to be more interested IA halloting
on the new clearing house system
than they were in trading. The
strength in foreign markets caused
some covering by overnight shorts
at the start and that was followed
by a little commission buying, Just
before midday there was another
rush on the part of shorts to cover
based on the opening advance at
Buenos Aires and offerings tight
ened up. At St16 for May resting
orders to sell we're uncovered but
these only temporarily halted the
advance. Another bulge to Sl-l6A
followed and resting orders again
checked the upturn. Australia re-
ported Japanese interests buying
there; also that Italy had purchas-
ed a cargo of new Victorian wheat
at $134, carriage, insurance and
freight Genoa. Baltimore reported
sale of 81 900 bushels of soft wheat
TO mills. Minneapolis cash wheat
was lower but Winnipeg was firm.
Weekly exports were 4,147 000
bushels or 4.000,000 bushels less
than a week ago.
Corn trade was quiet and the
range was narrow. The market
started firm and thereafter sup
porting orders at 5312 cents for
May kept the market pegged at that
price. Country is selling little cora
to arrive but receipts continue OF
good volume Domestic shipping
demand was slow and exporters
are buying at their figures or not
at all.
Oats trade also was quiet and
prices were nearly stationery.
Prices showed little change. Cash
oats basis was unchanged. Ship
ping demand was broader.
Provisions started easier. Later
offerings dried up and the market
rallied on commission house buying.
Sales OF 100000 pounds OF loose
lard at $3.50 were reported.
Wheat closed strong and near the
best prices of the day, . TO is
cents higher, May S116A to $. July
S102& to e. Corn closed un-
changed to Is cents higher, May
5312, July 55A. Oats Il to IS cents
higher, May SO to Il, July 40 Pork
closed unchanged To 10 cents low
er. lard to 10 cents higher and
ribs unchanged to 10 cents higher
Local cash sales were 1000 bush
els of wheat, 10000 bushels Of corn
and 1876, 900 bushels of oats. Sea-
board reported from 300 to 100000
bushels of wheat worked for ex-
port.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27

chiefly for 1928 or an exact total of
1903 900, 900.
The best estimates available to
the treasury of the cost of the bon
Us approximately is three and one
third billion dollars, of which at
least $S50,000.000 would fall due
in the first twOs years of its opera
ton with varying amounts in the
intervening year and an ultimate
Payment of more than S2,114, 000,-
900 in the twentieth year.
The secretary of the treasury has
virtually confirmed the fact that no
money can be expected Immediately
either on interest or principal
from the allies and he insists that if
any does come from abroad it must
go by law to pay the existing lib
eTty bond holders. So the $3.50, 000,-
900 for the next two years would
have to be raised by direct taxa
ton or the government would face
deficit of more than one billion
dollars a year for the next two
years.
Business Overtaxed.
The treasury thinks business has
been taxed too much for its own
good and that a sales tax imposed
as an addition to existing taxes
would only be passed on to the con-
sumner and increase the cost of liv-
ing. The sales tax itself is gain
ing more friends in the treasury
but as a substitute for the present
| income taxes and not as an addi-
tiOnal burden.
Whether the bonus goes through
and has to he killed by presidential
veto as seems certain if congress
persists, the political phase of the
economy program will cause more
and more trouble as the next few
months draw members of congress
! into their respective contests for
denomination and reelection. Did
this congress reduce the taxes? Did
/ it actually reduce the government
expenses any appreciate amount:
/ The budget is still around four bill
lions annually as it was estimated
by Secretary Houston under tho
last administration. Will it he
reduced below that, or increased
the danger is now that it will bs
increased unless President Hard
ing applies the brakes to congress
sional enthusiasm for the soldier
! bonus
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Bond Market
BY STUART P. WEST
tCopynEht. 1921

Wall Street, New York, Jan ~.
The uncertainty occasioned oy
prospective soldier bonus legisla-
ton was the main influence again
in the bond market today. 1t had
its effect upon prices. which were
generally lower and upon the vol
ume OF business, which was heaVlly
curtailed. Victory bonds went 10
a new high point, but in as mucn as
they are now being bought up most
actively for government account,
their movement is not of much sig
uificance. The main thing about
, the government security group was
the continued sagging of the liberty
bonds and here the shadow or the
bonus legislation, with its propo.
sition OF another huge output OF
government bonds, was keenly feiC
The railway group particularly
irregular A new high in Norfolk
Southern IS, accompanied by frac-
tional advances in a few active is
sues, was offset by declines or a
half point or more in Big Four 6s,
Louisville and Nashville 5I2s, Chi
cage and Western Indiana IS, down
points, Colorado Southern 41@s.
Chesapeake and Ohio IT'S, New
York Central IS and Quincy s.
Traction bonds, with the exception
of Interborough refunding 5s,
which broke 81, were up. Hudson
and Manhattan adjustment 5s and
| Third Avenue adjustments each
rose nearly a point.
-E= -7T.t1 Y l.
! pals was the feature OF the foreign
government securities. A number
( Of representative industrial bonds,
including American Telephone and
| Telegraph IS, American Smelling
! 5s and American Rubber IS were
! reactionary Columbia Grapha-
phone IS on the curb exchange adj
vanced sharply, recovering over 10
points from their low of Tuesday.
Speyer and company and the
Equitable Trust company today
sold an issue of sS,310.500 st. Louis
and San Francisco Railway com
pany equipment trust six per cent
gold notes to yield $50 to 5.75 per
! cent.
The sale of 81 ,O0O, 900 five per cent
refunding and extension mortgage
bonds maturing July /. 1867, was
proposed to the Interstate COM
merce commission today for ap-
proval by the Jacksonville Termin-
al company, the Atlantic Coast Line
Railway company, the Southern
( Railway, the Seaboard Air Line
company and the Florida East Coast
Railway company. The Dominion
Security company has bought $780,
| 600 512 per cent Is year bonds OF
the Province of Manitoba. The pro-
ceeds of the sale will be turned
over to the farm loan department
of the province to be applied on
loan sto farmers.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
PEKIN men Win
PRIzEFOR CORN

Champaign, H., Jan. 81. - The
best 10 ears of corn grown in Hi
nois won the state championship
for Sommer Brothers of Pekin. at
the University of Illinois corn show
held this week in conjunction with
the short course" in agriculture
The best single ear champion was
entered by NJ. Lasson of Princeton.
Both entries were yellow corn.
In the sectional championship, c.
G. Holden of Hillsdale, had the best
10 ears in the northern half of the
state, and A. r. Lasson's entry was
the best single ear.
The southern winners were Som
mer Brothers in the 10-ear class.
and f. A Newkirk of Bowen, for a
single ear.
F.. V. Wilson of Edgewood, was
placed first in the single and 10
ear combined division.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
tBy the Associated Press.
LiUe Stock
Chicago Livestock.

Chicago. Jan. 27.-Cattle: re-
ceipts 1000; beef steers, steady TO
strong; top, SIS; weight 1906
pounds; bulk beef steers, $500
$50; she-stock, stockers, feeders
and calves, steady; bulls weak.
Hogs: receipts $4,000; mostly
steady to strong with yesterdays
average; few 10 cents higher: big
packers holding back; top. 80 for
40 to $50 pound averages; very
few over 800; bulk, S.509S.S0: pigs
steady TO % cents higher; bulk de-
sirable. S.906900; few, $40.
Sheep: receipts, 11.000; mostly
steady; fat lamb top (early) 1885;
bulk, 1S.c5@13.75; shorn Texas
yeariings and two's $50: medium
weight fat ewes. 7.0067.35; desir-
able feeder lambs, I2.O0@12,50.
Prices for livestock IN Chicago yester-
day were:
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
STEEL.

Steel stocks bore the brunt of
the early selling. Republic Steel,
common, was very weak at the
start and the preferred broke, toe.
IN expectation of a very dismal
showing in the annual report.
which is due at any time now.
There is some suggestion that the
preferred dividend will either be
cut or passed altogether. The main
bear argument, however, all on the
independent steels was the hitch
in the merger negotiations. This
has not become serious enough for
the deal to be called of, but diff
culues have appeared which are
not easy to surmount The trouble
lies, OF course, in trying to fix the
terms upon which each of the pros
pectiVe constituents are TO enter
the combination. Bethlehem Steel
B was Steadied by the remarkable
showing in the balance sheet. With
inventories of $41,115,0 against
$73,20S,000 the year before and the
smallest in the company's history
cash and marketable securities rose
to $2O,O7S,000 at the close of, 1920
to $54 ,S61 900 at the end of 1921.
1t is doubtful If any other industry
whose shares are actively dealt in
on the stock exchange will be able
to make such a showing as this.
SUGAR STOCKS.
With the exception of American
Sugar, sugar stocks were slower tc
yield ground than most of the other
groups. With them there was nc
suggestion that the various comb
nations projected between refiners
and producers were likely to fall
through. Where these stocks went
down at all it wasn't more than
following other things. While opin-
ion in the sugar trade is still a
good deal mixed, the best judges dc
not look for any great advance in
prices yet awhile. The banks are
loaded down with sugar which they
hold at very low figures and would
| undoubtedly take advantage ever
of comparatively slight rise tt
| get out on large scale. A house
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Kansas City Livestock.

Kansas City, Mo, Jan. 27.-Cat-
tie: receipts LOO; quality plain;
all classes, slow; sales around
steady; packers bidding lower on
second and hold-over steers; best
steers, ITO; most COWS. 2.7504.25;
few heifers, 5.00Q5.75; Gamers
mostly so; cutters largely $3.50
$50; medium to fairly good stock
steers, 5.25@5.50.
Hogs: receipts 5000; steady 20
strong on all better grades of 250
pounds down, others, slow, barely
steady; $50 to 200 pound weights
mostly to shippers, S50QS.65; bulk
200 to 250 Founders to packers
S.35QS.55; bulk of sales, 8.O0Q
$50; packers top, $50; fat pigs VI
to SIS.
Sheep: receipts 5000; sheep
mostly on through billing; no de-
sirables light weights, lambs
steady; best, 1900.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Curb Market
BY STUART P WEST
Copyright, 1922

Wall Street, New York, Jan. 2S.-
The market on the curb exchange
acted independently of \ the stock
exchange factions during the great
er part of the session today. Co.
lumbia Graphaphone SIS were fea-
lures. Announcement that ar
engagements had practically been
completed for meeting the Feb. l
interest payment was followed with
a substantial upturn carrying the
bonds more than 10 points above
the lowest of a few days ago. Hud-
son company preferred was in com
parative demand, and there was a
good demand for Phillip Morris and
Tobacco Products export. ConSid-
cradle interest was again displayed
in the Radio issues but dealings
were smaller. International Com
bustion Engineering. which sold
ex-GiVidend, was easier but scat
tered buying orders were executed
On the reaction, according to word
received from the floor. The motor
stocks were quiet but held com
paratively steady. Intercontinental
Rubber was higher.
Standard Oil Of Indiana was the
leader Of the oil stocks. The Cities
Service share were higher as a re-
suit of rather heavy covering of
shorts and there was a fair in
duiry for Standard Oil of New
York On the other hand an easier
tendency was displayed in Kirby
Petroleum, Maracaibo and Anglo
American Oil. Red Bank Oil and
I Y Oil and Gas were the active lead
ers of the low-priced shares.
Aside from the Columbia Graph
aphOne IS the bond market was
generally irregular. Some issues
were quite active but price changes
were small.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Continued from First Page }

900 must be cut out of the intended
expenditures in order to balance
the budget. On top of that Mr.
Mellon confirms what has been
rumored for some time, that a
heavy shrinkage in tax receipts is
imminent and that the estimated
deficit may grow still larger when
the tax returns are all in. He
holds the business depression as
partly responsible and insists that
under the circumstances new or
extraordinary expenditures are not
being thought of fer a minute.
Makeup OF Deficit.
The $500, 000,0 900 deficit is made
up in this way:
The budget deficit for 1929
amounts to $4,000 900 and for 1928
over 1857 900 900. and these figures
make no allowance for the $50, 00o,-
900 requested by the shipping board
TO meet claims, $7.000,0Go relief to
Russia, $4,000, 900 TO be paid as the
first installment to Colombia for
the Roosevelt policy in Panama in
1901 and possible $50 100000 for
additional pay to government en-
ployes-a total of Nl2,o0o, 900
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
'DruGoods Market
BY STUART p. WEST
Copyright. 1921

New York, Jan. 27.-Cotton goods
buyers were still holding on today
expecting further reductions but
until conditions become a little
more settled they are not likely to
buy in large quantities even at
price concessions. Offers to buy
3S1A inch 65x60s in large quaint
ties at cents were made but the
best that could be done was s 3
and there was little trading at that
figure. Sales of SO inch 6Sx72s
were made by a few mills at 91s
Sheetings we're offered at ga for
5.I5s. Little business was done.
Trading in raw silk was on very
limited scale with prices irregular
The market for double extra cracks
is considered to be about $40 and
for canton new style 14-16s about
S7.55. Some cheap thrown silk Of
fers are reported particularly in
hosiery tram said to have been
quoted below IS.
Human body is three-fifths water
and one-fifth carbon.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
MORE THAN 1000
DEER KILLED IN
NEW HAMPSHIRE

Concord. y. H., Jan. %. = New
Hampshire is still j happy hunting
ground More than four thousand
deer were killed in the state in the
last hunting season according to
the office of the state fish and game
commissioner.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Peoria Cash Gram.

Peoria. III, Jan. 27.-Corn: re-
ceipts 20 cars; unchanged; No.
yellow Az; No yellow 4611; No.
) yellow As; No. yellow 40; Nc.
3 mixed 47A.
Oats: receipts Is cars; I'M
changed to &c lower; No. white,
35A.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Chicago Potatoes.

Chicago, Jan. 27.-Potatoes a;
weak; receipts, 80 cars; total Unit
ed States shipment, 684 cars; Wis
consin, sacked, round whites, 1.S0@
1876 per hundredweight; Wisconsin,
sacked round whites, some frozen.
1.65 per hundredweight; Minnesota
sacked and Red Rivers, 1.759 50
per hUndredweght-
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Peoria Livestock.

Peoria, Ill, Jan. 27.-Hogs: re
ceipts. 1900; Is cents higher; top
SIS; lights and mediums, $500
SIS; heavies, S:30QS.65; packers,
6.500725; pigs, 7,5O@8.50.
Cattle: receipts 200; steady:
calves so cents lower; best calf
price 1850.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Chicago Produce.

Chicago. Jan. 27.-Butter. unS
changed.
Eggs, lower; receipts, 1864
cases; firsts, $50 @36c: ordinary
flrsts, 31032c; miscellaneous. Sag
35c; refrigerator frsts, 23@25c.
Poultry: alive, lower; fowls.
23l2c; springs, 23c; BOOSTERS, 1Sc.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Kansas CITY Cash Grain

Kansas City, Mo, Jan. 27.-Cash
wheat: No. 2 hard, 1.110120; No. 2
red, 1.15@1.16.
Corn; No. white, 44@441ac;
No. 2 yellow, 44c.
Oats; No. , white. 37Q38c; No.
2 mixed, SIC.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
New York SUGAR.

New York. Jan. 27.-Eaw sugar:
market easier; Cuba's declined 1s
cent to the basis of 23s cents cost
and freight equal to 1913 for centri-
fugal.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
WALL STREET FEATURES

'AHr r WEST tCoPY RIGHT.-1s22.D

which makes a specially of sugar
securities estimates that the IN
sold portion of the Cuban crop,
which at the beginning of the sea
son amounted to 200, 900 tons, has
now been reduced To 400. 900 tons.
SPECIALTIES MOVE.
While professional sentiment was
bearish and while most of the let
ter writers were predicting further
reaction. some of the pools in indi-
v1dual stocks stuck to their guns
Among specialties in this class that
gave the best account of them
selves, that is, showed the greatest
rallying power whenever the gen
eral market permitted, were Davi-
son Chemical, Can, Gray e. Davis,
Corn Products, Savage Arms &
Texas and Pacific. In all these in
stances, the reasons accompanying
the buying operations have now be-
come entirely familiar, and there
was nothing new in their situation
today.
Columbia Graphaphone stocks
ran up sharply on reports that re-
cent difficulties in the way of put
IAh6 ILLS Cou pduE on us IeeL nave
now been Strengthened out, and
| that the Feb. l interest on the FIVE
year notes will be met An official
1 announcement of the plan of re-
construction was expected later in
the day or tomorrow.
NORFOLK AND WESTERN.
Norfolk and Westerns December
report showed a very encouraging
progress. The gross revenue in
creased from $6,940, 900 in Novem-
| Der, 1921, to $7,219,000 a month
! later Over the same period net
operating income increased from
| 1922 900 to $2,139 900. This i'm
! provement is all the more welcome
| because of the general expecta-
/ ton that December reports even
of the prosperous roads would
make unpleasant reading for stocx-
| holders. At present Norfolk and
| Western is earning at annual rate
of between II and IL per cent for
| the common stock.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Weather Forecast

Illinois, Missouri, Wisconsin and
iowa: Generally fair tonight and
saturday; not much change in tenn
perature.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Horses and Mules.

East st. Louis, Ill, Jan. 81
Horses and mules, unchanged.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27
Silver.

New York, Jan. 27.-Foreign bar
SILVER, 65s; Mexican dollars, .493s
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-01-27

Human body is three-fifths water
and one-fifth carbon.
The New York herald., 1922-12-16
New Orleans Entries.

first RACE-Purse $500. for two-year-
oldS: five turlongs 'Sweet Nam lO5.
terhandos. 1O5: Auntie En-. l05: Begun,
IL; Permarco. 10. Jota. 1,2; Gold Mount,
los; Barbara Palmer 1o5. Bijou, l05: Eau
SECOND RACE-Purse $780, for two-year
olds; claining five and half furongs
Hillhouse, 49, Leslie, ia; sSettine sun.
10; Rork. 100: 'Al Stebler los; sVennie
ilo; 'Punta Gorda. l04; Elizabeth Bean
THIRD RACE-Purse sToo: claiming: the
Gunewald Handicap; for all ages: six fur
longs: William A. 49, Knight OF the
Heather, III: Mock Orange, 1O4; .Raico
100: tSea Mint. l05: James T. O'Hara
40; tLast Effort, l06. thrown & Dundee
FOURTH RACE-Purse $7oO: claiming: for
ce-year-ods and upward: one mile
Grass Tree. 100 Who Cares, 10; Ameri-
can Boy. i13: Minute Man III: sKirah
loJ' Amanda, 1O1: "Jacobina. lO2; @Rib
Grass, lO2; 'Bally Bell. 1902: attorney
1O1; Frank W.. 1903; "Carnarvon. III.
Also eligible: Grace Foster. 90; The
FIFTH RACE-Purse $500: claiming: for
three-year-ods and upward: six furlongs
Lady Luxury. 100: Rekab. 100: Financial
Rooster, l0S: Camoufeur. 1913: Serbian
100 Spugs, II; Ragazza. Il2; Grayson,
~; Jago. i07; Stock Pin. l0s: stamp,
Natural, 100; Attoo. 100: Hindoostan. 1903:
Money, lo2; sandalwood. 1903: sDeInos 95.
SIXTH RACE-Purse $500 claiming; for
three-year-olds and upward: one mile and
quarter: Lucy Kate. 90; Musito. 1902:
Little Ed. i02; american Soldier. 1903:
Lord Herbert. 1O6; .l<ing Trojan, 106
'Honolulu Boy. los; Rama. los: Austral,
no.
Apprentice allowance of five pounds
claimed. Weather clear. Track sloppy.