davidaulloa/AmericanStories huggingface dataset:
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
s1OCKS RALLY
AFTER DECLINE
OF YESTERDAY
M STUART p. WEST.

wall Street New York, June 13.--
Il vas made still clearer that Mon
AVS violent downward plunge on
me stock exchange was the result
N inside rather than outside con-
ditions by the sequel today. There
vas not the slightest change in the
autside surroundings over night.
Whatever unsettlirg. influence Eu.
-ooean economic problems had ex-
cried was quite as much present as
i had been on previous days. The
decline OF the allied currencies con-
.inued conspicuously again in
French francs. Foreign govern
ment bonds and in fact the foreign
securities market IN general moved
Nth the same INDIGESTION.
But as soon as the New York
stock exchange opened the change
from last nights demoraIized state
al things was quite apparent. AS
always happens after such a sud
den break. there was considerable
.urther liquidation Of over extend
ed or otherwise damaged gpecula-
i've accounts. This ceiling produc-
cd an Irregular decline at the start
but the weakness was only none
sasy. and when it was seen that the
force in the liquidation had run its
course. 4 rally set in which did not
stop until prices had been lifted 4
point to three points all through the
lists. The buying under which this
recovery took place came from
three sources-frop traders on the
short side covering their commit
rrents, from other traders repur-
chasing at the attractive level of
the morning stocks which they had
sold out at much higher prices only
u lsw days before, and from pool
operators renewing here and there
.he;r activities in a tentative way.
The buying orders originating in
these traders coming into COMPETE
ton with one another mads the first
upturn very rapid. But by after
noon its force had been spent and
the market quieted down. The fall
in the foreign exchanges became
more and more pronounced as the
day went on French francs sold
we'll under $50 as against S..S7 at
Mondays close, 914 a week and a
high of 9.35 at the o;A,et OF April.
Italian lire for the first time on
this downward movement fell
through the fiye-cent level. Trans
actions in German marks were
made with nominal quotations
mostly around 81. The pressure
finally became severe enough TO af-
feet sterling and to drive rates
down nearly 5 cents in the pound
from the high Of the year touched
last week.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
Market
BIZ STUART =. " ESP
Copyright, 1922.D

New York, June 13.-Traders on
the market here for cotton cloths
waited today to see what raw cot
ton was going to do. Prices were
firm at recent levels but commit
ments on either the buying or SELL
ing side for future delivery were
made with caution and in small
quantities.. One-eighth of a cent
above the prices for spot were ask
ed for August delivery There was
some business in standard pint
cloths but sheetings showed little
change. Second hands showed no
anxiety to sell even a shade under
the market Drills were in some
demand and sateens were bought in
small quantities.
Some dealers in the raw silk mar
ket held for So a pound for double
extra cracks, but some silks were
obtained under that figure The
market was strong in reflection of
the activity in Oriental centers.
WOOL.
Boston, June 13.-The advances
in worsted prices by the American
Wooden company while they had
been expected, had a tendency to
strengthen the raw wool position
here today. Trading was somewhat
less active but prices were firm.
Activity has not ceased in the buy
ing from growers, however The
saltwater and Carbon County Mon
tana pool brought 401ac a pound
Last year the clips from that sec
ton were sold at zoe and under.
Late Nevada purchases were made
at Csc, although the average for the
spring has been below that figure.
The width of the steamers Males
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
STEERS HIGHER
HOGS INACTIVEj
LAMBS in DROP
by Consolidated yPress.l

O. S. Yards. Chicago. June 10
While values were cut for bulk OF
stock In the cattle and hog pens at
the opening of the present week.
supplies were again heavy today.
Nearly IL 600 unsold hogs were held
over and sellers had no chance to
prevent decline. Sellers are
looking for a light supply OF sh0rn
lambs from now on. In a week or
SO they will be moved into the
yeariing class. with spring lambs
taking their place in quotations for
young stock. Receipts today were
estimated 10000 cattle, 10000 hogs.
5000 sheep and 1000 calves.
CATTLE.
Best steers were fully steady,
with some shorts showing a gain
of 106I5 cents for strictly prime
stuff. while anything above $50
found a good outlet. Heavy steers
sold at $40 while choice yeariings
made $50. Medium grades were
generally steady. Cows and heifers
also sold about steady. while can
ners and bulls also held like the day
before. Some choice bologna bulls
went at 4650475. Calves were
again down mostly. 25c. with some
sales off soc. Good vealers went at
10.00010.25.
HOGS.
Demand for hogs lacked action
and values were lower. Most Of the
light stock started at a decline OFFS
010c from the general average of
the day before with choice lots at
1850. Bids were 15c of for heavy
hogs. Shippers paid 10.50010-55
for light butchers. while choice
heavy stuff went at 10.2561035.
Top light hogs sold at 1866 while
rough packing hogs went over at
8.75@9.25.
SHEEP.
Lambs were again lower. Sellers
had expected a good market with
the light supply, but most of the
deals were OF Csc, while many
showed a decline of soc from the
average of the day before, making
the market nearly 100 off for the
week Best spring lambs were
quoted at 1350014.00, while choice
shorn lots went at 1900 Good
ewes sold at 6O0@6.5O on a lower
market
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
Chicago Produce.

Chicago, June 13.-Butter, low
er; creamery extras. 341s; firsts,
S09S31a; seconds, 26929; stand
ards, S4A
Eggs: Lower; receipts, 35, 1926;
tirsts, %; ordinary frsts, 20@20h;
miscellaneous, 21@2115; storage
packed extras, %; storage packed
frsts, %.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
Toledo Seed.

Toledo, Ohio. June 13.-Wheat:
cash, 1-21; July 1-12A.
Glover seed: prime, cash, 1900;
October, Ills.
Alsike: prime. cash, HIS; Au-
gust 1900.
Timothy: prime, cash, 800; Sep
TENDER 3-25; October, 500.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
tRy the Associated Press.
Grain
Chicago Cash Gram.

Chicago, June Is
WHEAT.
No. l hard LIS.
No. 2 hard LA.
No. 2 yellow 1.12.
Sample grade yellow LOO.
No. l hard dark lis.
CORN.
No. 1 mixed 59h @60Ik.
No 2 mixed 59A 06014.
No. 3 mixed 5S1a @5S%.
No. 4 mixed 57A 657%.
No. 6 mixed ssh 655A.
No. 1 yellow 60@6o1s.
No. 2 yellow 60@60h.
No. 8 yellow 5SA $50.
No. 4 yellow 57A @5S.
No. 5 yellow 56A @57A.
No. s yellow ssh @561s.
No. 2 white 60@601a.
No. 3 white $685..
No. 4 white 57A.
No. white 5615.
No. 6 white 56A.
Sample grade 53A @54la.
OATS.
No. 2 white 35A @361a.
No. 3 white 33A 036h-
No. white 1906.
OTHER GRAINS.
Rye: No. 8615 0S7.
Barley: 55061.
Timothy seed: none.
Glover seed: none.
PROVISIONS.
Pork: nominal.
Lard: 1872.
Ribs: 1212@13.25.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
SHEEP.
Horses and Mu1es

Horses: Good to choice drafts.
S155 0$180; good eastern chunks,
$S00S115; choice southern horses,
S40@S80-
Mules: 16 to- II hands, $3.50
$3.50; Isl to 1913 hands. $500
$225; IA to Is hands. 5000 $50.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
Chicago Potatoes, =

Chicago, June 13.-Potatoes dull;
receipts IS care; total United States
shipments 679 cars: Alabama sack
ed Bliss Triumphs No. 1. $500
S75 cwt; Spaulding Rose sacked
No. mostly 500 cwt; Louisiana,
Texas and Oklahoma sacked Bliss
Triumphs No. l, 3.50@3.15 cwt;
North Carolina stave barrels Irish
cobblers No. l, 6.50G6.75; Eastern
Shore Virginia stave barrels Irish
sbblers No. l, 7.256750.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
Peoria Cash Grain.

Peoria, Ill, June 13.-Corn: re-
ceipts 16 cars; unchanged; No. 3
yellow, 571z; No. yellow, 81; No
2 mixed, 58A.
Oats: receipts 10 cars; q to 1c
lower; No. white, IS; No. 3 white,
"a.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
Flour.

Minneapolis, Mimi, June 15.-
Flour: unchanged to 20 cents lower.
Family patents: 75O@7.75 per bar
rel in SO pound cotton sacks.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13

The German race is supposed to
have migrated from Asia.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
Local Stocks

Quotations furnished by A G. Cochrane
Co. 309 Best BldgD
Rid Asked
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13
Silver.

New York, June 13.-Foreign bar
silver, 72A; Mexican dollars. ssh. /
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-13

The width of the steamers Males
tic and Leviathan is 100 feet
, 1922-03-06

inrs in bonds on the New York Exchange. New high
records have been attained by half a score OF issues
This favorable information is not limited 90 the ma
tons formerly known as the allies, for commercial To
ports inform Us that exports from Hamburg during
January exceeded Imports by 1,7oo,O0o,O0o mArxs
and that Hamburg has regained so per cent Of its pre-
war shipping traffic, despite the fact that Germany Is
practically without a mercantile fleet
Moreover, one of the most prominent hnanciers m
the United States Is authority for the statement that
government loans obtained in the United States
through private banking houses reached the total OF
S2,5ST, 900, 900, and of that amount all but about
$S1s, o0o. 900 have been repaid. OF course those ing
ures bear no relation to the eleveu-binion-doifar debt
owed the United States treasury What has taken
place in the handling of those privately distributed Sc
curities should be accorded serious consideration by
the debt refunding commission The record ehectu-
ally disposes of the argument 50 Frequently advanced
by publicists in certain debtor governments that they
arc unable to pay the principal or even the interest on
their obligations to US. As a matter of fact they have
Paid the interest and t~wothirds Of the principal Of
the loans obtained from Americans direct
There was no greater moral or legal obligation for
making these payments than for keeping up the in
and reducing the principal of the sums owed the
American treasury. In both cases the MONEY came
from the people of this country, and ft must be re-
turned to them. The refunding commission can very
properly maintain n firm stand against any suggestion
a remission of the amounts due our national
treasury.
, 1922-03-06
GOVERNMENT ASSISTS FARMERS.

Practical and legitimate help to agriculture was
demonstrated the other day by a Republican CON
gress when the senate passed without a dissenting
vote the McCumber bill authorizing a loan of $4,000
600 to victims of the drought in western North Da-
kota, eastern Montana and western South Dakota. The
bill provides n maximum of 100000 to be loaned
for the purchase of seed grain, the United States to
have a first lien upon the crop when produced Not
to exceed one million dollars of the $5,000,0 00 may
be used for feed for Livestock, the government to have
the first lien upon the stock as security.
This shows an appreciation of the fundamental i'm
portance of n prosperous agricultural industry and a
willingness to assist it in any reasonable and proper
manner.
The bill was favorably reported from the commit
tee on agriculture by Senator Ladd of North Dakota.
Senator Ladd explained that the section where relief
is to DO afforded has a population of from fifty to
sixty Thousand people and on account Of an annual
rainfall of only about fourteen inches dry farming is
%practiced. Until 1917 good crops had been secured
and in the past season a bumper crop was indicated
by all of the conditions until July when hot winds de-
stroyed the crop. Speaking in behalf of the bill, Sena-
tor Ladd explained that ii is not proposed to make a
donation to the sufferers but to advance them money
enough to buy seed so that they may once more get
on their feet.
Senator McCumber, author of the bill, explained
that the farmers have ploughed their lands for the
1922 seeding but on account of the crop failure of
last year are entirely without seed and unless the gov
eminent affords them relief not more than twenty per
cent of the acreage in a number of large counties may
be put in crops at all
, 1922-03-06

per ccnt in value. but exclusive of
petroleum the manufacturing mater
ial shows a fall OF So per cent in
quantity and 81 per cent IN value.
The fan in values per unit of guam
tity Is most observable IN the natural
products. food stuffs and manufac-
turing material Raw sugar imported.
for example. shows a fall of 25 per
cent in quantity and 76 per cont in
value. coffee ar increase of 3 per sent
in quantity but a decrease of ~ per
cent In valuo: wool an Increase If 81
per cont In quantity but n decrease of
81 per cent in value; hides and skins
a decrease of 81 per cent in quantity
and ~ per cent in value; raw cotton a
seduction OF 81 per cent in quantity
and rs per cent in value; and rubber
a decrease Of 20 per cent in quantity
and 90 per cent in value. On tho ex-
port side. wheat and flour in combina-
ton show an increase of IS PEI cent
in quantity but a decrease OF 80 per
cent.in value; cotton an increase OF 5
per cen in quantity but a decrease
Of 81 per cent in value; tobacco an in
crease of 10 per cent in quantity. but
a decrease OF is per cent in value;
, 1922-03-06
PLACING RESPONSIBILITY.

Manufacturers of automobiles have applied every
device known to motor engineering" notes the Hous-
ton Post, ito add to the safety of automobile opera
ton, but they have not yet succeeded in eliminating
the grade crossings. Fatalities from such accidents
have steadily mounted since motorists themselves have
appeared little impressed with the results of reckless
driving.
"But a verdict of a New York court the other day,
which awarded damages to the New York Central rail-
read from the owner of a truck which had been in
collision with a passenger train, if used as a pre-
cedent for similar verdicts in courts throughout the
country, may accomplish much in tho way of making
drivers cautious as they approach railroad tracks. If
they realized that they would be held liable for dam
ages in case of accident, perhaps they would be more
careful to stop, look and listen when approaching a
grade crossing. There are many people who will risk
their lives who are more cautious when money is con-
cerucd.
"The decision of the New York court is eminentlv
sensible. 1t was held that the lives of people on rail
way trains are endangered as well as those in auto
mobiles when a collision occurs, and where the driver
of the car is at fault, the proposition is set IN that
he is liable Tor damages.
Heretofore, the railroads have usually assumed In
be at fault. Collisions have usually been followed NV
large damage suits against the roads, and they have
been compelled to pay tens of thousands of dollars 10
the victims of such accidents In many cases, no
doubt, the train crews were not to blame.
When two automobiles or an automobile and an
other vehicle collide the driver of the one which is ar
fauit IS usually called upon to pay the damages. Fair
play suggests that the same rule apply in settling
cases IN which the collision is between a car and n
tram. The action of the New York court indicates
that this may be done in the future"
, 1922-03-06
APPLYING ECONOMY.

Figured in dollars at normal rates. the British
budget for 1929 viii be cut nearly $375, 900, 900, IL
the recommendations of the Geddes economy commit
tee are adopted These economies do not take into
consideration the savings which will result from the
naval holiday agreed upon at the Washington confer
ence. In addition, departmental changes have been
suggested which viii coordinate tho three fighting
services under a ministry of defense, with a reduction
of 10000 officers and men of the army, and $4,000
of the navy; and the abolition of the department of
overseas trade. Mention might also be made of the
fact that the government housing scheme is about to
be abandoned as the British government has found
that dwelling construction under government super
vision is n rank failure.
These economies suggest some of the reasons why
Great Britain is able to turn her attention 10 the pay
ment of her debt to the United States, with the proba-
billy that S250,000, 900 will be forthcoming during
the ensuing year to meet interest charges on that debt.
France, meanwhile, staggers under the upkeep of a
vast army. If Great Britain can effect such large saw
ings with a view to discharging her financial obliga-
tons to the United States, why cannot the other ma
tons who are indebted to us?
, 1922-03-06
EUROPEAN FINANCIAL RECOVERY.

reports OF daily transactions in foreign exchange
and IN foreign bonds refute the assertion of debt can
sibly pay their war obligations to the United Statos
Improvement IN their merchandise balance of trade
and IN their service income outside of merchandising
mas so vastly strengthened the situation of the lead
ing european nations that exchange rates, stated in
dollars, have increased to a degree that has aston
ished the most s%anguine. The pound sterling, which,
IN normal times, has a value of S4.S5, went as low as
S6'Is IN 1870 and Is now quoted at S4.4d. From a 33
depreciation 1t has increased to only a nine per cent
depreciation.
Recent reports OF sales of bonds in the open market
of the market is making little Roadway in either III.
reetlon, foreign issues are conspicuous by their
strength. For the last few days foreign bonds bavr
averaged approximately 20 per cent of the total deal
, 1922-03-06
Lower Prices and Foreign Trade

article by article and for the grand
total to Mt least approximate the TO
lation which tho fan In prices has
had to the reduction in stated values
of imports and exports, so much dis
cussed In recent monthA
The results of such Q study OF the
relative fall in quantities and values
of all articles for which tho quantity
can 10 determined. ts presented hero
with. It has been made by transform
ing TO the common unit OF pounds the
quantities of each article OF import
or export in which the value in 1891
was above 81. 900. 900 and for which
quantities imported or exported are
officially recorded In any form This
analysis shows for the calendar year
1920 approximately ESQ. 0oo, 0oo, 900
pounds of imports and exports and in
1921 approximately 200. 900. 900 900, n
reduction of 20 per cent in quantity
whilo tho value of the merchandise for
which the weight is named falls from
50, 1889. 900 900 in 1920 to s4.9ss. 600.
900 in 1921, n reduction of 10 per cent
in value, As against 20 per cent In
quantity. In exports the fail in guam
titles Of all articles for which weight
can be shown is % Per cent and the
fall In values OF h same articles 40
per cent. In imports this fa1 in guam
tity is 10 Per cent and in value Sc
per cent, this comparatively small re
duction in quantity being due to the
big increase IN the imports Of crude
petroleum. Exclusive of petroleum.
the fall in quantities of imports is 80
per cent, and IN value Sc per cent
A division Of tho articles forming
the 1921 imports and exports respec-
lively into three great groups which
form the bulk of all international
trade-foodstuffs. manufacturing ma
terial and Neutrality-suspicious. on
the export side an increase over 1890
of so per cent in tho weight of food
stuffs. but a reduction OF 81 per cent
in value; in manufacturing material
a fall OF IS per cent in weight and 40
per cent in value m in the manufac-
lures for which weight can he stated
the reduction Is 81 per cent in weight
and so per cent in. value. On the i'm
pert side. food etuffs show a reduc-
ton OF % per cent in weight and Ga
per cent in valse: manufactures a re-
duction OF z per cent in weight and
At per cent in value; and manufacture
ing material including petroleum. a
5 per cent reduction in weight and 81
, 1922-03-06

The reduction IN priccs. for which
iI mo world has BEEN chmorfng
since the close Of tho war and which
1t actually experienced during tho
calendar q 1921, WINS a larger fac
tor in the recent fall-off of our IN
tes1,ational trade figures than we
generally renIlze. Now that it is pos
sihlc to compare the official figures
Of imports and exports of tho United
States In Che fun c1dendar year 1921
with thoae OF the calendar year 1890
and To compare Tho fan In quantity
with that of value. wo find In nearly
cve6y case that the reduction in value
is far greater than tho reduction IN
quantity In fact close comparison
Of tho reduction in values of both
imports and exports with that Of
quantities actually imported or OK
ported. susgests that moro than one
half OF tho 1921 fall in stated values
is duo to lower prices OF tho articles
forming the trado M less than ono
half due TO reduction in quantities
OF h merchandise entering or leav-
ing tho country
While tho official reports Of nm
ports n exports do not stata guam
tdes OF all articles entering or leav-
ing b country, and whilo tho units
of measurement utilized In recording
the Quantities OF merchandise i'm
ported or exported include IN many
cases merely tho lumber OF articles
such as automobiles and locomotives;
bushels of h various kinds Of grains;
yards Of cotton, wooden. silk, and
fiber textiles; bales Of cotton; bar
rels OF flour, meal. fish. cement, rosin,
and appaess boxes OF citrus fruits;
dozens Of eggs; numbers of cattle.
and other food animals, and tons of
fibers and minerals, It is possible to
rednce all OF these terms of measure
meut to the single unit of pounds,
and thus to determine the actual num-
Der OF pounds represented by all OF
the imports and exports, except the
comparatively small number In which
no official record is made of the
quantities entering or leaving the
country. OF the 1915 billion dollars
worth of merchandise imported and
exported In 1920 (which fell to about
7 nlions 4 1o71) It is possible to de
termtne tho weight in the common
unit OF pounds of articles representing
about 10 per emit of the total value,
and comparing the reduction In guam
titles with the reduction in values,
, 1922-03-06
Thirty Minutes

Across the range a-turnin' brown,
pinto HawEs swingin' right eriond.
Comes Cowboy. lopin' In "a town
To Join the careless. samhlin throns
Three months a in his pocket
Stops at Faro Bin's sudden like.
steps out stiff lax er Jumpin' jack
walks fn-goin' IA mex OF strike
And says to Bill. Gimme er stack
Three months pay in his pocket
Across the range a-turnin' brown
Pinto Hawss Eoe siouchin' erlons'
Cowboy Is gittin' way from town.
Leavin' tho careless. gamblin'
throng-
Three months pay I'm Bnrs pocket
Il Richard Ship
, 1922-03-06
arsAuR rEcK PROMOTED.

naIiy was confirmed by the sem
ton Of Major Robert c. Peck to be a
lieutenant colonel, bitterly opposed DO
u OF reported statement disparag-
ing tho Kansas and Missouri national
guard contngents of the A E. F. fl
naIly was confirmed today by the sen
, 1922-03-06

Some Democrats are asserting that the United
cause We do not extend credits. Wen W ola A.
rest OF the world, in 1921, goods t. the value of 50.
Uoo'ooo'oOo in excess of our purchases. We did not
get payment Tor all of this in cash, so we must have
friends expect us to do?
, 1922-03-06

ate after please by senators that he
had been punished suffirientiy by war
department rebukes and by rejection
OF his first promotiou last year
, 1922-03-06

and coal a reduction OF 90 PEI cent In
quantity and So per cent In value.
%. p AUSTIN.
, 1922-03-06

What a difference a typographical error can make
axe pep, for instance and let the intelligent com
positor make it pip" sO"
, 1922-03-06

Trial by jury Is sA,d to have exist
cd In 1000 B. c