davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1922-10-01
BAN
On ]. :. VESSELS
AFFECTS TRADE
It Persists Regardless of Rates
American Ship Official
Declares.

NEW YORK, Sept. 3o.-One Of
the gravest handicaps to Ameri-
con shipping is the fact that
many foreign purchasers. in placing
their orders. bar the use of United
States vessels despite lower rates and
equal service. according to a state
ment from Winthrop l.. Marvin. vice
president and general manager OF the
American Steamship Owners Asso-
citation. He added that this discrimi-
nation was a continuation of prac-
tices started long before the Jones
merchant marine act of 1920 or the
ship subsidy bill were contemplated.
Mr.. Marvin said that while this
policy OF European discrimination
still was effective, considerable prog
ress had been made in combating 1t.
Gradually more business was being
gained for domestic shipping through
insistence that American ships have
the. right to "A proper share of the
carrying trade of the North Atlantic,
he said.
Carrying TwO-Thirds.
However. foreign ships, thanks
largely to this long -esta ablished policy
OF discrimination, are still CARRYING
two-thirds of the sea borne trade Of
the United States" Mr.. Marvin de-
clared. "A lumber exporter of the
Southwest. for example, when asked
why none of his product was being
shipped in American vessels, replied
that he was compelled by external
influences to favor British com.
panies In shipments to the United
Kingdom. Discrimination against
American vessels has been especially
marked In the flour export trade.
These instances have been reported
TO Washington, but American flour
exporters are Concertedlv moving TO
insist that foreign purchasers must
in fairness allow part Of the product
or American farms to be sent abroad
In American services.
What makes this discrimination
against the American merchant flag
all the more Vexatious and harmful
70 Americn producers as well as 10
the ship owners and operators OF this
country, is that in some instances
the foreign ships insist on freight
rates higher than the standard rates
charged by American steamers. An
American shipping company Of New
York lately offered tonnage to the
Continent for grain at the standard
figure, but found that the Continental
interests controlling shipments de-
manded that the grain be sent in
European steamers at an advance
Of cents hundred pounds over the
figure at which the American shfps
were Offering.
"U. s. Steamers Excluded"
"A Continental purchaser sending
a cable inquiry for grain stipulated
that American steamers We're eX-
Cluded.' Against an American offer
of II cents per 100 pounds on heavy
grain to north Europe, the foreign
purchasers insisted that the gram
be sent on n foreign ship at 20 cents
hundred.
These experiences prove that il is
not only higher wages on shipboard
that hamper the development of the
American merchant marine. Many
foreign interests are distinctly hos
tile to the use of American ships at
any time. And II is rather an iron
clad fact that such interests as these
are violently protesting against ma
tional aid to American ships provide d
in the pending subsidy bill before
Congress"
The Washington times., 1922-10-01
RUSSIA PLANNING TO
SAVE OIL WEALTH
Government Regulations Will
Prevent All Wasteful
Development.
By international News Service.


MOSCOW, Sept. 3O.-Russia does
not intend to waste her oil resources
as the United States has done. aC.
cordng to statement made by the
in charge of all the oil in
Russia. Gushers which pour their
reserves into the sands are not to
occur here if Russia can help it..
Little wildcat companies, each own
ing tiny claims, and each digging
their claim not nationally, but in
efforts to undermine their neighbors'
Claims-these pests of the United
States will also not be permitted in
Russia.
No "pikers" need apply is the gen
eral impression received after con-
ferring with the chiefs of Russian
oil In the districts where great
gushprs are to be expected. for in
stance. no one may drill without
having enormous storage tanks and
pipe lines. In fields where ordinary
wells are to be expected smaller
storage tanks may be prepared.
But everyone who takes a con.
cession must have a rational plan
for the whole field and enough CAPT
tai 10 carry it out. That is one Of
the things Russia insists on. She
wants oil developed scientifically, not
in the mad rush and gamble which
made the oil discoveries OF America
so picturesque and so wasteful. For
even the hunting of oil. one of the
worlds great adventures, can be
made a science, and Russia is now
putting forth as part of her pro.
gramme technical school to develop
prospectorS for oil.
The Washington times., 1922-10-01
Ronds React.

on the listed bond market the re-
tion in prices continued on. mod
ate scale, and a considerable
Inber of second grade bonds yield
b from one to four points in their
uotstionS Some of the bonds
hich had been leading the buoy
ncy in the market over the rast
sw months displayed rather IN
sual weakness when offered for
ale this week. Investment bank
RS have characterized the move
Inents Of the past two weeks as
Temporary shifting of funds frCm
kne channel to another. ana STE no
Ieason why the upward movement
Ia prices should not continue.
The money situation, not on!V in
New York but in tho principal fl
noncial Centers of the country. has
been of particular interest. not
only to the speculative community,
but to business and industry in
general. The latter group was as
sured that there are ample credit
resources for all their requirements,
though slight hardening Of loan
ing rates is looked for.
In the stock market il is signifi.
Eant that there is always plenty or
call money when the rates are
krsctionally advanced The bank.
hg institutions of Se country were
never better prepared to finance
business boom than they are at
the present time.
Based upon the statements Of
the railroad earnings already in
hand. II is estimated that the Au.
,,uet total of net earnings for all OF
theS class one roads will bc about
,eNNnn .nOn, rn-, ra,'n@ with little
o~r- 500, ,oeO .00n in the same month
last year. This r. about az per
cent IN their estimated valuation.
The Washington times., 1922-10-01

1.-THE stock market has not been
4llipg' the true story of the coun.
tSy's business and economic status
during thespast week and it's apollo
Astsi declare that 1t does not at,
tbmpt =. to do. Its most important
function is to sound the keynote
j the period six or seven months
il advance. and in this respect its
rkcord has been more nearly per.
fEct than any other agency.
Look for Advance.
Eor the most part the stock mar
kef has been dominated by profes-
siohal traders of large means who
have been actuated by a desire to
reap The benefits of an acute Situa'
ton in the market. From intimate
knowledge of the movements OF
stock prices at similar periods In
the spast they know that The course
OIL a bull market Is not III an un-
interrupted march forward, but
that occasional setDacks occur,
mo1rly due To what lhey are
pleased to term technical condi-
Lbns' in the market itself. The
RINK ana file of wall Street traders
ate heavily CommItIeu to The Dull
she, and are conuuent that prices
Viii WORK out much higher over an
extended period.
HCouSIueIaUle interest was dis
Mayed TINS weeksn the who're mar
keI, when includes the curb mar
ket.- anu the unnsted division, III
theA 81 ocks OF the various Standard
OH companies. Trading in STANDARD
Ont OI New York was tostered
largely by the expectation OF a
IheIon-cuttlng by the directors or
tkat company, and even their failure
II take such action did not dampen
tie ardor of the bulls in "Standafd
qIs'
lii needs only a glance at Curreht
stbck prices to note that the shares
oil the companies which promis d
Rtsat. things and failed Ito deliver"
have dropped considerable dis
tsnce from the high points to whicn
thSN were boosted on these false
rumors, while the Standard pro-
ducers and dividend payers, the ones
which turn out their products In
fair or foul weather, have been able
10 retain their high ratings despite
the weakness of their speculatlN7
brethren. Keen investors soon learn
to discriminate between the genuine
and the sham, and they have shown
no false modesty in throwing the
latter overheard.
The Washington times., 1922-10-01
Professionals Active
''' During Past Week
Market Dominated By Traders of Large
90 80: Means in Desire to Reap Benefits
i-- of Acute Situation.
BY w. s. COUSINS.
sht. 1879. by cosmopolitIan News servtee1

Il Cosmopolitan News serVce)
NEW YORK, Sept. 30No great surprise should be felt
HAT the sensitive of all speculative markets in the world
e New York stock market should experience touch Of
rves in while and the most expert diagnosis of the
arke ths week would doubtless ascrbe its actions to the
Well known malady. The efficient and productive indus
al units thrown of gear by occasional complications
various sections of their mechanism and when this happens
e obvious of action to remedy the parts affected
S1.y-as blo
The Washington times., 1922-10-01
Road to Buy Equipment.

sion today authorized the New York.
Chicago, and St Louis railroad TO
assume liability for S8,15O.OO Of 5
per cent certificates 10 he issued by
the Union Trust Company OF Cleve-
land and to be sold at not less than
oS per cent Of par. The proceeds are
to be used to buy equipment.
The Washington times., 1922-10-01
National Bank Charter
Granted for Kenbridge

The Comptroller of the Currency
has issued national hank charter
TO the First National Bank Of Ken.
bridge, Va. with $45,SOO capital
This is conversion Of the State
Bank Of Kenhridge, w. S. Manson
is president and r. ]. Barlow is
cashier.
The Washington times., 1922-10-01

- AND

BY b. C. FORBES.

Well. how do you find the cost of
living. rising or falling?
And how, do you figure, is it
likely TO go in coming months?
Broadly, this is what is taking
place throughout the world:
In countries where the govern
ment has been correcting currency
initiation, prices of the necessar aries
OF life are tending lower.
In countries where output of
paper currency has been allowed to
run riot, prices are soaring and
there is widespread discontent.
Let us first glance at foreign
countries.
German Prices Double During
August" reads the caption Of a re.
cent cable. Taking 100 as basis
for 1914 prices. the German level
on September l stood at 2S.9I9. At
New Year it Was only 4,23S-a!.
though this was twice the price
level which ruled at the beginning
| OF last year. In other words, prices
in Germany have multiplied 2S9
times.
Russians cost-of-living figures
make your head swim What could
be bought for 100 rubles in 1918
costs, according TO the latest figures
available, 544,556,S54 rubles!
Austria's cost of living index rose
1872 per cent last month alone, the
figure on September being 16.94S.
In July a loaf of bread could he
bought for 2,49O crowns, but last
month the price jumped TO 6,"4O
crowns. Meanwhile, wages Of un-
skilled labor rose to about 1900
crowns per hour.
! John Bull is gradually getting
down to bedrock. The index num-
ber of the London Economist record
ed decline from 1896 on August l
| to 4,257 at the beginning of THIS
! month, while the Statist's excellent
compilation showed a decline from
1888 to 1919 for last month. Prices
in Britain are now at the lowest
point since the war ended.
Prices are also moving toward
more normal levels in Canada. The
CANADIAN department. OF laDOr gives
| the August wholesale price index at
! 164, a decline for the month of 1l2
per cent, and the lowest in more
than a year.
Japan also reports a drop from 266
in July to 25S in August. Price
movements in that country. however,
have been quite unsettled, as there is
reason to fear general conditions are.
What's what at home?
If we leave the recent furry of
! coal prices out of the reckoning, tn"
| figures for last month would show a
slight decline.
As a matter of fact. the average
! level of prices in this country has
moved extremely little during recent
months.
In the nature of things, the
changes recorded by all the different
cost of living complications do not
always exactly agree, as they do not
all include the sam" r'ImhCr of iteIns.
Dun's record, which does not in.
/ Clude fuel, showed a decline of R
of l per cent during August. Brad
streets, which does include fuel,
showed a nominal advance.
The Washington times., 1922-10-01
PUTS & CALLS

$40 to Sl25 controls 100 shares Of any
listed stock on \ Y stock Exchange. No
further risk Move Of & points from or
tion price gives you opportunity to take
$500 profit. 3. S3oO etc. white for Fec
ROBERTS 4 CO.. so BROAD ST. y. Y.
The Washington times., 1922-10-01
Here are interesting figures from
RradStreet'S record:

1t is interesting to note that the
Department of Labor announces
decrease in the retail cost OF food
to the average family for the
month ended August Is of per
cent
The Washington times., 1922-10-01
"Gass% aAsgSuHHHne HHHne BUSINESS AND FL NCE HHHa
Industrial Condition
Shows Improvement
Expansion In Fall Buying Noted, Wit
Faster Pace in Industry.
By CosmopoIitan News Service.


NEW YORK Sept. 30.-Bradstreets Weekly Business Re
view today says:
'Trade and industrial conditions very generally show fur
her improvement Expansion fall buying steady to higher
commodity prices still faster pace industry employment
about widely dused of the year. collections better
and late Northern rpenng with rifng frost damage,
are the notable features Of the week.
The Washington times., 1922-10-01
Whit Of the future?


Frankly. hesitate TO express
any dogmatiC opinion. particularly
as the new tariff may operate in
a way to upset quite few cal.
Culations. Then. the prospective
shortage of labor may send awry
the reasoning Of the theorists who
proclaim emphatiCally that the
process of deflation, of declining
prices. will go on for years, follow.
ing the wartime initiation. Also. I
am hopeful that grain prices will
advance rather than decline; this
not solely for the sake OF our
farmers, but for the general pros.
perity of the country. Further
more. there ought TO he suffi lent
expansion in the dinand for goods
to have an influence on prices In
quite a number of directions.
Even so. however. I, for one. do
Not fool alarmed over the loudly.
prophesied secondary initiation"
on the other hand, neither may
prices conform to the prognosttca.
tions Of the theorists who point to
precedent as n certainty that prices
will decline for long time to come.
(copyrlght. 1922. by d. c. Forbes)
The Washington times., 1922-10-01
Effect of War.

1t is not easy to make correct
APPRAISED of the effect OF the IurKlCa
war scare upon our markets. IN
Vestors in stocks and bonds Kept in
close touch with the foreign e&-
change market this week, and We're
inclined to regulate their activities in
the stock market by the fluctuations
In sterling. But even in this respect,
the market was not consistent. Dur
ing the European war, the heaviest
demands were made upon our ma
tional producers of steel, munitions,
and war supplies of all kinds, and
the outbreak of another war would
doubtless create a bigger market for
these products and consequently
SboOming of their stocks, But the gen.
eral idea of another war in Europe
was so disconCerting that investors
were inclined to sell indiscriminately.
Land bank bonds featured tn"
market for new security offerings
during the past week, the aggregate
kbeing SIS, ,OO0, 900, out OF a total of
kllS. 900. 900. The offering of $75,-
DAQO. 900 ST Federal farm loan bonds
was only few minutes old when the
hooks were closed with heavy over.
subscription. This is an evidence of
the excellent demand for securities
which bear the United States GOV
ernments stamp of approval.
State and municipal bonds also fig
ured quite heavily this week, the
total being $4,000, 800, and the larG-
| est being an issue of $S,OOO'Ooo CITY
Nj Chicago per cents: public utili-
kiesI amounted to $1l 100000: indus
Mails. $lO,OOO,OOO. and railroads to
100000.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-08-19
ARMY AIRPLANES CARRY
TERROR TO AB0RIGINES

|. Washington, August 19.-Army
airplanes have brought the fear OF
God" to the aborogines of the Phil
ippine Islands.
Strange reports of how: the natives
+ act and what they think when the
aerial activities 3. Of the Third Zero
Squadron recently ON duty at Jolo,
Fulu Archipelago, Philippine Islands,
reached the War department today.
Some Moros believe the airplane
an emmisary from Allah; others, that
the. superhpman. occupants are All
seeing and all powerful; anG, still
Others that the plane is q dragon out
| Of the South Seas, come to wreck
dire vengeance on all bad Moros, ac-
cording to an old Arabic tale. ;. -
One. pilot reported that while on, a
rr,ecognisance flight over the Island of
Jolo, he was at loss to account for
a native who was riding along the
highway holding aloft in outstretched
arms a small white sheet, as if: in
application. Upon landing he
learned that certain natives are au--
thorized to carry. barongs OF knives
by. written permit, Those apprehend-
ed with knives. but without permits,
are severely punished. The native
noticed by the pilot. was carrying a
barong. and was holding his permit
aloft for the pilot to. read from his
plane. fearing that a bomb might be
dropped on. him or that the plane
might swoop down on him and eonfis-
cate his weapon.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-08-19

trial relation which most directly
concern Labor. That is to say: the
time to develop personnel depart
ments, set up profit sharing, orga5
nize shop committees and all OF the
rest of the things that belong to
this class is, not when Labor is in
the saddle and holds a gun at the
employers head, but when the EN-
ployer himself is in the saddle and
is in the position to dictate terms.
.'The. employer does not have TO
take this reasonable course, if. he
does not want to. He can use these
next years to pile up trouble fol
himself and his successors in the
days to come. If, however, the en-
.ployer is wise, he will take advan'
tage Of his position to set up the best
kind of machinery, with which to
defend himself: and his industry: i
is not a question Of strikes in the
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-08-19
BIG HISTORIC PAGEANT
CLOSES SUCCESSFUL run

iContinue0 srom Page -
three evenings Of the pageant met
with such. hearty approval as did
the "Over the Top" scene, which was
staged by members of the Ralph
Oracle post of the American Legion
and Company X, Bemidji National
Guard unit. Fireworks, special lights
and dynamite added to the effect
iveness of the charge made by the
boys. ....r ...5,
At the close Of the pageant, a
ftashlight group photograph was at.
tempted, and the historic pageant OF
Northern Minnesota came to a close.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-08-19

going to be disposed to accomplish
by indirect means. A man who can
not get his pay raised can stall on
the job. He can get the best of his
boss by all kinds of nasty tricks in
the factory. Nib . -
d "These are short sighted policies
In the long run they work to the
disadvantage Of labor. Still, they
are the usual recourse of !, Labor
when it is met by obstacles that do
not yield = :. - s..s:,s
E: Right here IS the, problem of
the employer Of the next few years.
How shall he meet the new temper
of Labor? In my opinion that ugly
temper must be met by open deal
ing, by setting before Labor the
facts under which business is done
and by admitting Labor progressive
IL to greater share in the manage
ment Of the elements of the indus
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-08-19

servative investors will seek secur-
tiles les 7of companies which haze a
broad minded labor policy and which
companies are now developing plans
which will be of use when the next
period of prosperity. comes. Ice can
not be. gathered in the summer. but
must be put up in the winter. when
t is not needed. The same principle
applies to- Labor. Labor troubles are
very difficult to settle when they
occur. Wise manufacturers prepare
during such times as these. proven
tative measures so that labor
troubles will not, occur when times
are good."' iii. '..:..:.,
. General business is holding its
own according to the index of tie
Babsonchart. It shows activity to-
day at Z per cent below normal as
with 9 per cent last week
and minus 10 per cent a: year ago.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-08-19
END OF LABOR DISTURB
=. ANCES BELIEVED NEAR
CONTINUED From LAxs I

-(Continued From UAxe ID
The men. went on strike for more
pay. They. were :. courageous, conf
dent. bouyarrt1 They were sure Of
success. :, They were. seldom disap-
pointed. In. the: future just ahead
they are going to strike against wage
cuts; against attempts to rule out
the unions They are not going to
be as successful, as they were in the
war time strikes. - ..s,s
"In consequence Of this the real
question Of next few years is as to
the; frame. of mind which Labor is
going to have. In. contrast with the
bouyant confidence Of the war years
Labor is now going to be sullen, re-
sentful, revengeful. What they do
not gain in open. victories, they are
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-08-19
Additional
Want. Ads.

y -.
LOST-New mounted 33x4k Good
rich Cord casing yesterday, be-
tween Walker and Cass Lake.
Finder please leave. at Pioneer Of
flee for reward. 1dS-19
FOR RENT-After Sept. I, six
room house with bath. Apply
i Cases store. 4d8-23
LOST-Ring Of keys, in grandstand,
yesterday evening. Finder please
return to Pioneer office for re-
nj ward .s. ..s..... 20. ..--..... 2d8-21
Tor iN RENT +: = Modern ., :. furnished
I rooms, by day orweek. $40 Bel
sSssstrassi Ave. Phone 765=J. 1888
MI ANTE A travelling, solicitor, A 8.
3 u blished Minnesota mannfac-
turer of fiavcrings, spices, medi-
cines, toilet articles, food prod
.eucts, ETC., selling through wagons
and autos direct to consumer.
Wants, reliable hustler to make
contracts with statesmen or rural
dealers. Prefers man who has
had house to house medicine wag-
on experience selling to farmers.
A good job for a good man. Adj
dress, Winona Reporting Co., Wi
.,cna MINI s+..F 1dS-19
FOR RENT--House at At Mime
sofa Ave. Inquire mornings at
above address. Sds-Zz
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-08-19
NORTH (l[I j[][ DAKOTA, GROWERS
!: e.. AIDED IN WHEAT. POOL

+, Grand Forks, N. D., August 80
At recent conference between Of
ficials of the North Dakota Wheat
Growers association and Grand
Forks bankers, arrangements were
made for financing the 1922 wheat
pool locally.
A syndicate loan of $4,000 was
arranged to take care of immediate
needs, and the bankers promised
that this would be increased to half
million more if necessary. The
SIS, 100000 loan, advanced by the
u. S. War Finance, Corporation %
the N ID. Wheat Growers associa-
ton August 10 will also be. used in
financing the marketing of associa-
ton wheat and making advances to
growers, but local bankers will be
given the preference in, the matter
of ilsarior loans. II
Tks Grand, Forks Bankers stated
that they were whole hearteliy, be-
hind the Association in its efforts tp
sell wheat Jon theHopen markets .ofl
the world, in order to reduce over
head handling expenses and elimin-
ate the ItoIhmissionmen's and spec
ulators dip and thereby increase
the price returned to the grower,
The loan to the wheat growers
will be. handled by the Grand Forks
Clearing house association. The
Northwestern National Bank sof
Grand Forks has been named custo-
dian for the War Finance loan.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1922-08-19
THREE GENERATIONS or
POTATOES IN ONE YEAR

John. b. Miller, farmer living
about 10 miles northeast of Was
.kish and "a miles north of kelliher
is a:visitor in Bemidji today and has
an exhibit Of potatoes Of which h
is very proud. He has three genera
tions of Early Irish Coolers the
first generation having been. y: dug
MAY ID from an open field where
the seed lay, all winter in the ground
which did not freeze. The second is
The regular crop and the third is the
result of planting seed from the
regular crop. Mr.. Miller now has. a
new variety Of potatoes which he
will. give a name of his own.