davidaulloa/AmericanStories huggingface dataset:
Evening star., 1923-07-26
SHUN WORLDS COURT,
Is JOHNSON'S ADVICE
Continued from Ninth Page,

States did not hesitate to express the
views of our country In foreign az
fairs. and remember when the
greatest American of his generation
spoke in clarion tones Americas for
eign policy, and all the world listened
Free, independent, unfettered by
league or association, court or con-
ference. America can speak and the
world will heed"
Recalls Change of Views.
Senator Johnson said he did not
question the good faith Of President
Harding in asking for Americas en-
trance into the world court. nor the
fact that he ''believes he may accom-
plsh the seemingly impossible task
but aside from his few advisers. ]
think there is quite a substantial dis
agreement with him.
Recalling that in 1920 Secretaries
Hughes and Hoover OF President
Harding's cabinet had urged Ameri-
since changed their minds. Senator
johnson pointed out that they were
now believed to be among the chief
sponsors of the world court He said
he conEra tulated them that they had
seen the error of their ways" and
asserted: 81 may be pardoned, there
fore. in suggesting to you the vehe-
mence of their views three years age
upon a most important international
policy, views which they now have
changed; and we may be pardoned
too. in accepting, respectfully. bu,
with bit of caution. their present
views upon a less important inter
national policy"
Points OF National Issues,
1t is not wisdom that France and
Britain want" Senator johnson de-
clared; They know chat We have no
special wisdom tu offer. They know
| that they could. get better special
wisdom about the Ruhr. for example
from Denmark. But they do not sa \
that Denmark is essential tc the
league. They do say that the United
! States is essential to II. What is the
difference? The difference is tina,
Evening star., 1923-07-26
FIREMAN BURNED,

Private Michael Lamp of No. Il
engine company sustained painful
Durns to his arms yesterday after
noon while assisting in extinguis h
ing fire in motor truck in front
Or 1918 North Capitol street. Case
Ilne showered on the fireman's arms
1nd fgnited. inflicting the burns. DIR.
-. ID. Mulcahy dressed the burns, and
Lamp was able to return to duty this
morning. He resides at 915 10th
street northeast
Evening star., 1923-07-26

Have a little patience. Even a cork
screw doesn't go straight to the point,
but IL gets there
Evening star., 1923-07-26

II Is not uncommon for glass blow
ers to drink twenty-five or thirty
quarts of water a day
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
DAILY BUSINESS EDITORIAL
What 1t Is to Be a Great Producer
By RICHARD F. JOHNSTON

THE other fellow knows neghbo doing
Especially well known the acts of those who produce
of the
the earth blasted the sides hills
the of life 1t has sweated mill and
that the might basic materials necessary IN
Many what produced
of AS the anpodes and that far
Phopate manufactured Ensey of Stag
Australia
China cherry trees in japan proong their life and increase their
by-product
the yproduct plant oils thousand articles of science
medicine the arts, and /
laid with water produced the Beemer plant of the U Pipe
when the Harrison
Bueno Ayres Rio their Serving the
pies of the world.
shelters Chile with
with steel products and for Cuba with rails plates and supate
ammonia for Japan with steel mill
for the Pacific Serving peoples
their primal necessities Is that glorious mission?
Not only making iron for factories but for the
large Making that fuidiy peculiar properties
beneath the
ers here the needle points to the north.
The pipe have built
The build the attractive the investment 1t diff
cult ovpoduce for hundred millions
country and other peoples Our cast iron is world necessity and
lowest worlds
The Columbus, Ga, Industrial Index
Birmingham is first of all producer. of
mines come great volumes of material and fuel from the
furnaces fed supply of for
plants and It's great cement and lime mills produce these
tai building materials in enormous volume
production high tide
truthuy significant and heartening
material
turing plants reports of tremendous activity.
Men cannot but feel kindly district produces
OF its wants The entire south
having this producer situated
burden enaed these
1t is to be producer. is next to creation
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
FOREIGN BONDS
{nn Cx,rh MorIyafA
Current Condition OF
Reserve Banks Shown

WASHINGTON, Feb. 2S-Combined re-
sources and liabilities of the IL federal
reserve banks at the close of business
February 81 were reported tonight by
the federal reserve board follows:
Resources: Gold and gold certificates,
1902, 66s.0O0; gold settlement fund. fed
eral reserve board. $574,s57,000; total gold
held by banks, $S77525,000; gold with fed
eral reserve agents, s2.142, 076.0 600. gold
redemption fund, s55,64l,0o0; total gold
reserves S3.075. 242 900; reserves other
than gold, S12S,S67.0 600; total reserves,
600.
Bills discounted: Secured by United
States government obligations, $3.50, 241-
900; other bills discounted, s259,6S2 900 :
bills bought in open market, $1S2, 353 900 !;
total bills hand, $50, 900. United
States bonds and notes. s167.420 900 /;
United States certificates of indebtedness,
S1S6.614,O00.
Municipal warrants: Total earning as
sets, SILICA 100000; bank premises, s47.-
$4,000; 5 per cent redemption fund
against federal reserve bank notes, s311,-
Goa uneollected items. s606. 500 900: all
other resources. Sl6,566,000; total re-
sources, S. LOG, 1854 900
Liabilities; Capital paid in. $10S,S74, 600 ;
surplus, $21s,369,000
Deposits; Government SAG, sos, 600; mem
Der banks, reserve account, S1,S97, 691. 600 ;
SI,965, 914, 900
Federal reserve notes in actual circula-
tion$ 2,260, $4,000; federal reserve notes
in circulation, net liability S3,066, 900; de-
ferred aYalia bility items. S53S, 323. 600; all
other liabilities, s11.712. 900; total liabili-
ties, $5,106.755 600. Ration OF total re-
serves to deposits and federal reserve note
liabilities com bined. 1858 per cent.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
NEW HIGH RECORD
FOR THREE YEARS
IN SUGAR MARKET

NEW YORK, Feb. 23.-The high
records for the season and for the
past three years were established in
the raw sugar market today, with
Cubaos selling at 55sc, cost and
freight, equal to 7.40c for centrifugal.
There was a fair business reported,
the sales including about 225, 900 bags
of Cubas and $4,000 bags of Porto
Ricos at 7.2Sc, duty paid, and $1,000
bags of Cubas and $4,000 bags Philip
pine Island eentrifugals at 7.40c.
Raw sugar futures were active and
prices were firmer during most of the
day at one time showing advances
of 10 to 20 points. At the advance.
however. there was heavy realizing
and prices reacted, closing points
net lower to 10 higher. Closing.
March, 5.54c; May, 5.73c; July, 5.S3c;
September, 5.94c.
Refined was firmer. with fine
graduated now listed at cents by
local refiners. A much better inquiry
was reported.
Refined sugar futures were firmer
and final prices were 10 to 40 points
net higher and little more activity
reported. There were sales of May at
9.o5c and 9.10c, and June at 9.10c and
925c.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
ATLANTA RESERVE BANK

Atlanta, Feb. 23.-Statement of re-
sources and Liabilities Federal Reserve
bank OF Atlanta, at the close of business
February 81;
resources: Gold coin and certificates in
vault. S5.597. 4Ss; gold settlement fund,
S20,315401.6O; total gold held By bank,
S25.912,ss4.6o gold with federal reserve
agent, sl1o,s13.7s5; gold redemption fund.
SsS0,531.03 total gold reserve Sl37707.
20O.63; reserve other than gold, ss,52s,-
SOS: total reserve, sl46,235, 705.6S; non
reserve cash, SS,l33,716.1i Bills discount
ed Secured by government obligations,
S2,75S431.60; all other, $15,320. 697.S6 bills
bought in open market S7,614.46771; total
bills on hand, s25,6ss. 597.17. United States
bonds and notes, s4S2,650; all other GER
tifeates of Indebtedness s9.530,922; tota.
earning assets, s35,702,169 II. Bank prem
ises, S21S2,9S6 81; unsolicited items. $24,-
7S2.163. 9s. all other resources SS35,293.37.
Total resources, s217,372.0 44. 3d.
. Liabilities Capital paid in s4,4lS. 600 !;
surplus SS,941,55342. Deposits: Govern
ment, s2,21l,741. Is; member banks. re-
serve account, s5I4s1,o s736; all other,
$500, 3s5.sl; total deposits. s6o.1se.,,
1915. Federal reserve notes in actual
circulation, S121473,035; deferred avail
ability items, $2l.743.533.04; all other La
bilities, $500, 15s.72; total liabilities, $217,-
372. 044 g.
Ratio of total reserves to deposits and
federal reserve note liability combined.
sos per cent.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
OLD CROP MONTHS
SENT UP TO NEW
SEASONAL HIGHS

NEW YORK, FEB. e3.-Scattered
liquidation as result of March mo-
tees checked an early advance in the
cotton market today, but was alb
scrbed on comparatively moderate re-
actions, with old crop months making
new seasonal highs in the later trad
ing March sold up to 29.S6e and May
to 29.9Oc, but met increased offer
ings in the last hour. when there
were reports that spots were being
sold little more freely in the south
March closed at rec and May at
29.65c, with the general market clos
ing steady, IA to 3S points net higher
on the old crop. but from 10 to 81
points net lower on new crop posi-
tions.
The market opened irregular, De-
cember points lower, but generally
to As points higher. with near
months relatively firm on renewed
covering by trade or speculative
shorts and the firm showing of Liver
pol over the local holiday. Notices
representing about 10000 bales were
issued against March contracts and
while it seemed the general convic-
ton that some of the larger spot
interests were fully prepared to take
up the cotton, their circulation
evidently brought out some scatter
ing March liquidation. This sup
pied the early buyers and the mar
ket eased off, with March selling
down to 29.52c and May to 29.61c, or
about 10 tc % points from the open
ing quotations. Trade interests were
buyers on the scale down, however,
and as soon as the scattering liquida-
ton had been absorbed, prices firmed
up again on continued reports of a
good spot demand in the south.
Early sellers for reaction covered
on the advance which followed, while
there was fresh buying or replacing
of old long lines as prices worked
up TO 29.22c for July, or about 43 to
81 points net higher on old crop de-
liveries.
New crop months remained rel
atively easy owing to reports of con-
tInued good weather in the south,
and the whole list eased off in the
late trading under renewal liqufda-
ton and southern selling, accom-
ranied by reports that the advance
was bringing out more spot cotton
offerings and hedging. Port receipts
for the Cay were 9.762 bales. United
States port stocks, 772,S49. Exports
for the day, 1858, making 3,6O7,755
SO far this season.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
Price Level Smashed
By Cotton, Buoyed Up
By News From South

NEW YORK, Feb. 23-The cotton
market has been very firm during the
past week. with prices making new
high records for the season on all the
old crop deliveries. The development
of an increased spot demand jim the
south, probably to fill out engage
ments for February shipments,
seemed to emphasize the strength of
the old crop supply situation, coinci-
dentally with the approach of the
first March notice day. Daily reports
trGm the south indicated an advance
ing basis and near month shorts here
evidently became apprehensive that
holders of contracts would demand
deliveries This started a covering
movement in March, which extended
to later months, and there was prac-
tically no halt in the upward move
ment of prices, until March and May
both sold at 29.S0c this morning.
The advance was checked by scat
tering liquidation due to the circula-
ton of March notices estimated at
about 10000 bales, but offerings of
March contracts were well absorbed
within or 10 points of the May
price, and the best quotations of the
season were touched this afternoon.
with March selling at 29.S6c and May
at $4,000 or 270 to 290 points above
the low prices reached on the reac-
tion at the beginning of this month.
New crop positions were pulled up
by the strength of the old months,
but made relatively easy showing
and evidently met some selling on
scale-up owing to expectations Of in
creased acreage.
Weather conditions in the south
have been considered favorable as a
preliminary to new crop preparations
and local traders, quite generally
seem under the impression that the
south Will make an effort to raise
more cotton this season. The idea
leads To some selling on new crop
months on advances, Notwithstanding
the large discounts at which they are
selling as compared with old crop
deliveries.
continued moderate or poor trade
has been reported in the Manchester
goods market and there were reports
from London today that the cotton
yarn association had recommended
that Lancashire mills close for two
weeks next month to prevent accu-
mutations of stock.
Reports from the domestic goods
markets, On the other hand, have con-
tinued generally favorable. Retail
distribution is said to be progressing
in satisfactory quantity.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
Wheat Short in France

PARIS. Feb. 23.-France's wheat short
age has been found by the ministry Of ag-
riculture to be less than supposed Re-
vised statistics. published today show that
last years crop totaled 10000 600 quin-
tails, instead of 64.oOo,OOo auintais. as pre-
viously announced.
The shortage, however, is still sufficient
iy serious. the ministry says. to necessi-
tate the severest measures OF economy. in
GLIDING the use of rye and other substi-
tutes in flour and reduction in the waste
age of bread. 1t is desired to restrict
as far as possible importations of wheat,
which are particularly costly in view of
the fall of the French franc.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
Gulf States Shows
Increased Earnings

Earnings of the Gulf States Steel com
pany are reported at more than $50 a
share so far this month. This leads east
ern financial journals to say that Gulf
States Steel is expected to place its com
mon stock on dividend paying basis
within the next three months"
Speaking OF the Gulf States Steel the
Wan Street journal says:
Certain directors are known to favor
placing the stock on 10 per cent annual
basis. This would be warranted by cur
rent earnings. WHICH in January were at
annual rate of close to $40 share.
Rate far in February is still higher.
Net for the $11,152,150 common in 1922
was equivalent to s725 share. Earn
ings in the last quarter were at an an
nual rate of 81 ga share.
Bond interest and preferred stock divi-
dends total only S154,766 year. These
charges for the entire year were earned
about one and one-third times in January.
All plants are operating 100 per cent
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
NEW YORK COTTON FUTURES


NEW ORLEANS, Feb. 23.-Advances in
the price of cotton today were due to the
entire absence of March tenders In this
market, this being first notice day for that
month, to continued high spot accounts
from the interior and to the further bull
lsh variations in the statistical state
ment. Old crop months made new high
records for the season. March at its best
trading up to 20, Gle a pound, spots made
new nigh records with midGling at 20 Use
but the new crop months were prevented
from making full response to the adj
vance of the old crops by favorable
opinion of the weather conditions over the
greater part of the belt The market was
more irregular than 1t has been Of late
and its irregularity recently has attracted
much attention. The close was Al points
net higher to IA net lower on the day, the
new crops closing at net declines March
closed at 20 42c and October at % SEC
Mill takinEs for the week were some
what larger than expected, 216,000 bales
against $4,000 this week last year; the
visible supply decreased during the week
by 1875 bales, an unusually wide loss,
and was reduced TO only 2,662,670 bales
against 3.7sl.934 a year ago.
While the new crop outlook was
sidered generally favorable, further rains
in south Texas were followed by the com
plant from that section that in the ear
hest localities planting had already been
delayed from two TO three weeks.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
Gulf, Mobile & N. r. r.
Dividend Is Forecast

The Gulf Mobile and Northern railroad
dividend on the per cent cumulative pre-
ferred stock on which SIS a share has ac-
cumuated since January 1, 1920 1t is
said in eastern financial circles that mo
confirmation is obtainasle, but some cred
ibility is lent to these reports by last
years earnings. best in history of the COM
pany. which showed small surplus after
full requirements the preferred and
by the fact that earnings this year have
continued excellent January gross being
a new monthly record"
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
Sugar Melon Sliced

NEW YORK, Feb. 2s-stockhoiders of
the Savannah Sugar Refining company to-
day authorized the directors to declare
preferred stock dividend covering the rs
Der cent deferred dividends on preferred
stocks payable May l. The dividend will
Increase the preferred stocks from S2,750,-
900 to s3,750,000. The directors also were
authorized to increase the no-par com
mon stock from 1880 to $500 shares
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
Hubbard Bros. & Co.

Members New York Stock Exchange. New
Orleans Cotton Exchange. New York Pro-
duce Exchange. Associated Members
Liverpool Cotton Association. Orders So
licited for the purchase and sale of Cotton
and Cotton Seed Oil for future delivery.
Special attention and liberal terms given
for consignment of sp~A cotton for dc.
livery.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
LIVERPOOL COTTON

LIVERPOOL. Feb. 23.-spot cotton
quiet; prices steady. Good midding,
i6 54d; fully middling, 16 AID; middiing,
10 S4d; low middling. 16 09d; good ordi-
nary, Is. sod: ordinary 10 god. Sales, 900
bales including $500 American. Receipts,
2.oOO, no American. Futures closed steady
February 1920, March 15.91d May
l5.s0d, July Is. SOD. October IA. cid, De-
cember 10 SGD. January 10. 75d.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24

,.ba 49, aUhh, Feb. 2s.-Foreign ex-
Brltain, demand III 7-16c; cabJes
I'll ll-l6c day bills on banks 469 S-I6c,
france demand 6.06%c; cables 6.o7N
and 3 .S4lae. Germany. 0O44Ihc and
Sstgo44Ae. Holland. 39.65c and 80 6Sc
Norway, is Sic. Sweden, 26 &c Den.
mark 10 SEE. Switzerland. i8.s2i5c
spain l5 s64 &c Greece. 1.12hc Poland
.oo22c. Czecho- Slovallia. 2.961ae Argen.
o osne, 01zSc. Brazil, IL 62c. Montreal.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24

NEW YORK, Feb. 23.--After advancing
to points for active positions in sym
PATTY with cotton and lard, Gotten seed
oil turned easy under March liquidation
and pressure from local bears. Closing
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
HEsTER,s COTTON STATEMENT

NEW ORLEANS, Feb .23-Comparisons
are to actual dates, not to close of CORE
spending weeks
In sight for week. $4,000: same seven
days last year. $4,000; same seven days
year before, $4,000: for the month, S23.-
date year before, $4,000; for season.
9145,000; same date last year: s,396,OOo;
same date year before. $4,000.
date e. last year, ASS, 900; same date year
before last, 4,560,000.
Overland to mills and Canada for sea-
son, 905,00o; same date last year, l,2oo.-
900; same date. year before. $4,000.
date year before, 2.o4s.O0O.
Interior stocks in excess of August l.
427. 900. last year. 144,000 year before,
100000.
Foreign exports for week, 10000 same
seven days last year. 1000: same seven
days year before, $4,000; for season. 1885,
600 same date last year. 3,6S5.OOO; same
date year before, 3,290,000.
Northern spnners takings and canada
for week 5000 same seven sa noo days ~ sa ,nss
date last year 100000.
Statement Of spnners takings Of
American cotton throughout the world :
year. 100000; same seven days year pc
fore, III 900; total since August !, S,395,-
900; same date last year. SSH OU; same
date year before. 6612, 900.
Statement of worlds visible supply
Total visible this week. 4,4oS,ooo; last
week 4534.000; same date last year
Of this the total American this week was
:. 6s3. 900; last week. 2s11,0o0; last year,
S'7S2'OOO: year before. 4.3S4,oOo.
Ali other kinds this week. la45' oO0 /;
last week. 1,723.ooo; last year. 1'o4z'ooo;
visible in the United States this week.
1,5120oo; this date last year 2sV weak
. SOS 900: this date last year. 3 $4,000.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
DRY GOODS MARKET

NEW YORK, Feb. 23.-Cotton goods
We're firm but quiet in todays markets
most OF the unfinished goods being in
small lots for prompt delivery. Yarns
Were steady. Fancy worsteds for fall
sold freely, and the largest lines of mems
wear has been sold up and withdrawn
Burlaps were quiet in the local markets
but easier at Calcutta. Business was
light. Silks in novelty designs sold freely.
Wool markets were steady.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24

high 6. low 5A ruling rate u siIaois !,
DID ola B. offered at a. last loan s. call loans
AGAINST aceeptances ~. Time loans fir1,
mixed collateral, 60-sO days 5; four1e ~,
months ., prime commercial paper AZ
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
---==-77-
WEEKLY LIVERPOOL

LIVERPOOL. Feb. 23.-weekIv cotton
statistics; Total forwarded to mills 5S :
600 bales of which SO 600 was Amrrican.
stock, $4,000. American 1872 900; Imports
$4,000. American $4,000: exports 1000,
American, 600 S
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24

bids were 3 to 6 points net lower for lead
ing months. Sales, 5000 barrels. Prime
crude 10c bid. Sales: Prime sunlme err
yellow spot lie, March IL o4c, Nav ii.Ssc.
July 11.55c, all bid.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
Raising Federal Reserve Rates Encourages Bear Dealings Stock
NEW YORK STOCKS

NEW YORK. Feb. 23.-Folowing are
today's sales high, low and closing prices
OF stocks listed on the New York Stock
Exchange.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24

NEW YORK, Feb. 2S.-The circulating
Of March notices estimated at about TO-.
600 bags caused some liquidation in the
market for coffee futures during todays
earlier trading The opening was TO
IL points lower, while July declined to
lo.77c. or 10 IS points net lower. OF
terings We're comparatively light after the
carly selling had been absorbed. however
and there were rallies Of net decline Of
4 to 10 points. Estimated sales 1000
Bags. Closing March 1880. May II 45c
July 1o.79e, September Ole. December
. .5Sc.
Spot coffee duh and nominalIy un-
changed. Cost and freight offers includ-
ed Santos So and SIS at 14.S71a OILS 25c,
and Rio is at 12.10@I2. 15c.
The official cable received early showed
decline of 20 rels in the dollar buying
rate and of IT'S to 275 reis in the Rio
market. although Santos was 100 to 1875
reis higher. Later special cables from Rio
showed advance of 10 reis in the dollar
with decline Of so to SIS reis in the
milreis price. Brazilian port receipts.
10000; Jundahy receipts, $4,000.
Santos. cleared. $500 bags for New York.
1900 for New Orleans and 1000 for Bos-
ton.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-24
NEW YORK CURB


NEW YORK, Feb. 2s.-Transactions on
the New York Curb Market today were
as follows.