davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1923-04-17
Grain Future Trading Act Is Declared Valid

WASHINGTON. April l6-The grain fu- lures trading act was declared valid and constitutional today by the supreme court.
 Sales on the Chicago Board of Trade are as necessary to the continuity of this flow of grain, the court held, as are stock yards sales in the movement of cattle. 1t was added that the evidence showed that future trading does have an effect on the cash price of grain.
 The fact that corners in grain have been brought about by dealings in futures evil deneed. the decision said, the relations be- tween future dealings and cash grain.
 The Chicago Board of Trade. the court concluded, is engaged in business which
 Justices McReynolds and Sutherland dis sented
 "It Is clear from the citations in the statement of the case the decision said, .of evidence before committees of investi- gation to manipula tions of the futures market and their effects. that we would be unwarranted in rejecting the findings of Congress as unreasonable, and that our inquiry as to the validity of the legisla- tion. We must accept as tho view that such manipulation does work to the detriment or producers, consumers, shippers and le- gitimate dealers in interstate commerce in grain. and that is real abuse"
 Manipulations of grain futures for spec uiative profit" the court held, though not carried to the extent of corner or complete monopoly, exert a vicious influ- ence and produce abnormal and distrbut- ing temporary fluctuations of prices that demand. and discourage not only this jus tifiable hedging, but disturb the normal flow of actual consignments. A futures market lends itself to such manipulation much more readily than cash market"
 In discussing the alleged restraint of in terstate commerce involved in the contro- versy the court said
 The fact that corner in grain Is brought about by trading in futures shows the direct relation between cash prices and actual commerce on the one hand, and dealing in futures on the other, be- cause corner is not a monopoly of con tracts only: 1t Is monopoly of actual supply of grain In commerce If corner and the enhancement of prices produced by buying futures directly bur den interstate commerce in the article whose price is enhanced, it would seem to follow that manipulations of futures which unduly pressed prices of grain in interstate e commerce and directly influence consign- ment in that commerce are equally di-
The Birmingham age-herald., 1923-04-17
WHEAT SUFFERS SHARP DECLINE ON COURTS DECISION

CHICAGO, Ill, April G. Wheat underwent a sharp decline in price today owing chiefly to better reports from the northwest and as result of the United States supreme court decision upholding the grain futures act. The market closed 1a4 to 9s net higher with May $l24a to S12414 and July S1.2l& to s1.22. Corn finished l e is to 1 5s down, oats off half cent to l b, and provisions cents advance.
 Wheat opened higher, July touch Ing new high price record for the season. Then heavy selling set in, apparently of a profit-taking nature. which ensued had been in progress two hours before announcement was made that the grain futures act had been declared constitutional. No de- eided additional setback in prices took place immediately, but an hour later when details of the supreme court decision were at hand, the mar ket underwent material decline. Some rallying power was shown by wheat values toward the close but the upturn failed to get more than fraction above the low. small in crease of the visible supply was d handicap on the bull side as was the fact that primary receipts continued of good volume.
 Corn and oats followed wheat in a downward swing of prices. With weather more seasonable and with a number of traders inclined to be pes simistie over the supreme court decis- ion, recaveries lacked vigor.
 Provisions were depressed by the weakness in lard quotations at Liver pool
The Birmingham age-herald., 1923-04-17
BRITISH TAX CUT
 BRINGS REJOICING. IN WALL STREET.
Very Little Interest Is Taken In Market Session
 Tuesday
By WALTER F. BROWN
 Editor New York Commercial Special Dispatch to The Age-Hera1d.


 NEW YORK. April 16-yery little interest was taken in the stock mar ket today, relatively speaking. the turnover being only about half what it is on what we have come to regard as normal days. The undertone was firm, but there was some irregularity especially toward the close. There was some pressure on the petroleum stocks. but this was simply because they were considered little more vulnerable for the time being.
 As a matter of fact most of the days news developments were con- structive. One of the most important was the news from London of sub stantial reduction in the British in come tax, both for individuals and for corporations. The regular income tax Is reduced sixpence to the pound for four shillings and siXpence, while the corporation profits tax is reduced 90 per cent, or from one shilling to six pence We do a great deal of grum- bling over here4because we think our income tax is heavy but when a Britisher pays four shillings and six pence out of every pound, he is pay ing more than 20 per cent tax. At current quotations the British pound Is worth S4.65. We grumble because we have to pay about 1Sia cents tax on an income of that amount.
 But our British cousins pay s1 04 There would be pretty loud complaint nere if we had to work at least one Hay a week fer the government.
 Not Same Hostility.
 The reduction of the corporation tax is wise procedure. There is not the same hostility, to corporations over there that there is here. British companies are run by their stock holders and company meetings are great events and very largely attend ' ed. We can imagine the tremendous uproar that would come from the . radical element in Congress, and even those not so radical, if we attempted to cut the corporation tax here in half. Yet the British are acting on the theory that reduction of cor l poration taxation will stimulate ;n- dustry and thereby decrease the un- employment The British public would rather see their workmen employed than be taxed to support them while unemployed. The incerase of corpo- rate income will provide just so much additional taxable income. It will increaS SC the revenues derived from taxation without increasing the bur den of taxation. It is plain. sound common sense, and is in line with what Secretary Mellon and President Harding are advocating here. If our people could only realize that the cor porations were owned by their stock holders and that the stockholders were their neighbors and fellow citi- zens. there would be good deal less agitation tolerated from the political demagogues.
The Birmingham age-herald., 1923-04-17
20 BIG. CASH PRIZES OFFERED
How to Play

The picture above contains number of oo- jects and articles. the names of which start with the letter "T." How many can you find? You can readily such objects as "Tent" Turkey" Turtle" etc The others are just as easy to find and you don't have to turn the picture upside down or sideways in order to see them. The visible parts of the objects whose start with the letter "T" can also be used. Study over the plc- ture carefully and then write down the names of the objects and articles you can find. the names of which start with this letter
 Twenty big cash Prizes will be given for the twenty best lists of words submitted in answer to the puzzle. The answer having the largest and nearest correct list will win first prize; second best, second prize etc.
The Birmingham age-herald., 1923-04-17
Told by Priuate Wires
HUBBARD,S LETTER

NEW YORK, April 16-- Special )-Con- tinued heavy liquidation again made it's appearance this morning. carrying the market into new lows for the movement. Weather conditions throughout the south continued to be unfavorable, and while we may have some further decline we do not think that 1t is advisable to follow the market and believe that soon as this liquidation has run it's course a sharp reaction can be expected, especially ahe American mills were pretty fair buyers of near positions, fixing prices on the decline. Unless the weather improves expect to hear some compla ints of delayed planting in the near future. Futures in Liverpool are due: May l4.s7d, July 14 60d.-Hub bard Bros. & Co.
The Birmingham age-herald., 1923-04-17
Follow These Rules

This puzzle game is open to any man. woman, boy or girl residing in the states of Alabama Georgia and Mississippi, who is not an employe of The Birmingham Age Herald or member of employees family. It costs nothing to take part in the game
 2-Ansvers should be written side of the paper only and numbered consecutiveIy- l, ? B. etc. Write your full name and address mailed before midnight Monday, May IA, 1925 and address sed to J. H. Brittan. Puzzle Mana ger The Age-Herald Birmingham. Ala
 s--Persons who have sent in answers or Inscriptions before midnight May I. VIII De qualified for the larger prizes, providing sup. scription orders are received by midnight May 26.
 4-only words which found in the Eng fish Dictionary will be counted; Compound; hyphenated and obsolete words will he counted as errors. If the singular of word IS used the plural cannot be counted. and vice versa Words of the spelling can be used only once. even though used to designate different objects The same object be named only once, although any part of the object can also be named Where more than one me wore one af them will count.
 5-The person sending in the largest and nearer correct list of words beginning with me letter IT." naming visible objects shown in the picture. will win First Prize; second near; near est Second Prze etc. One point will be given for each correct word sent in, and one point deducted for each incorrect word omls sion This will be figured percentage basis. Neatness style of handwriting will have no bearing upon the deciding of the winners
 6-A answers will receive the same con sideration regardless of whether or not sub scripticn is sent in.
 7-Persons may work together in preparing Il ir list. but only prize will be awarded to any household. Nor will more than one prize be awarded any group outside of the family where two or more have been working together
 s--In the event of tie for prize or fcred the full amount of such prize will be pad to each person tied The correct list will be made up from the correct words submitted by the various contestants and will not consist of any Master or Predetermined list
 e-Three we'll known citizens of Birmng- ham, having connection with The Brmng- ham Herald, will act as judges and award the prizes at the close of the puzzle game International Dictionary, and contestants agree to accept their decision final and conclusive
 1o-These judges will meet directly follow ing the close of the puzzle game and the names of the prize winners and the winning list of words, together with the correct list which is made up by the judges from the correct words submitted by the contestants will be published in The Birmingham Age Herald and the prizes awarded just as quickly thereafter the judges can complete the checking.
The Birmingham age-herald., 1923-04-17
FEW YORK COTTON FUTURES
NEW ORLEANs COTTON

NEW ORLEANS, April 16.-While the price of cotton stood at net declines throughout the session today, after the heavy early selling was over, a fairly pro nounced reactionary trend was taken on, and it was more or less In evidence dur ing the middle stage of the day. Early declines amounted to 47 to "A points; from this there were recoveries from Sl to v bale. but in the late trading selling in creased again, and the new crops wiuened their declines to 61q62 points on the day on the list of 3S to 50 points, May closing at 27 42c after having traded as low as e7 OSc October closed at 24.12c. after having traded as low "A Ole.
 The opening was lower and the early selling was caused by favorable opinion bf weat ther conditions over Saturday. This favorable opinion of conditions in the in terior did not last the session through, and some of the rallies of the day were
 due to re eports of rain falling in Texas, of
 complaints of too low temperatures here and there in the belt and of almost gen
 eral complaints of unsatisfactory start
 for the crop. ,
 Unfavorable accounts from the Man chester market, claims that trading in both cloths and yarns was very light and further short time talk from English mills has much to do with the early weakness. but later on such reports were offset to some extent by claims of a quiet but fairly good spot demand in the interior markets and by the line of about 1000 bales Of spots sold in the New Orleans market
The Birmingham age-herald., 1923-04-17
A Game for Young
 and Old Alike. It
 Costs
 You Nothing Take Part
The Key List

For your guidance and to assist you in the solv ing of the ''T-Word" Puzzle we have prepared a list of nouns which start with the letter "T' and which contained in "Webster's New Internal tional Dictionary" (which diction- ary is used as authority.) This list con tains every word which could possibly be in the above picture, and we absolutely guarantee that there is no object contained in the picture which is not contained in this list. Study over the picture carefully and by referring to this list you can easily determine whether not the word is represented in the picture. This list will be given away free and will be mailed to all who submit a self addressed stamped envelope or who will send cents in postage to cover the cost of mailing
The Birmingham age-herald., 1923-04-17
LIVERPOOL COTTON

LIVERPOOL, April l6.--Spot cotton ii good demand. but business modera e prices easier good middl!ng. Is. .Gsd. full. middling>-l5 4Gd; middling, Is 36d;. lov middlIng, 15 lid; good ordinary. IA Cid ordinary IA S1d. Sales. 10000 bales, in ciuding 7500 American. Receipts. aoOi bales including l,5o0 American. Future closed firm; April 14.74d. May 147Sd Puly 14.51d. October 3.50d, Januar, l3 old, March 12 .S3d.
The Birmingham age-herald., 1923-04-17
FURTHER DECLINE M COTTON PRICES FOLLOWS SELLING

NEW YORK, April 16.-There was continued liquidation In the cotton market today and a further decline of from B to s4 per bale in the price of active deliveries. with July con tracts selling off to 27.05 cents, or 70 points net lower and 369 points be- low the high record of March IA: That delivery closed at 27.36, with the general market closing barely steady 30 to 5S points net lower. The market opened irregular to 2S points in response to relatively more favor able weather and reports of a contin- ued lull in the demand for cotton goods. There was little trade buy ing and considerable covering but liquidation of old long accounts was active, and selling became more ag- gressive as prices worked lower.
 Stop-orders were uncovered as the market broke to 27.75 cents for May and before the decline was more than temporarily checked by covering, old crop positions sold 70 to so points below last weeks closing quotations or about 3.74 to 3.S4 points below the recent high records. The break in new crop positions was less severe as some Of the sellers or olu crop months seemed to be rebuying in the later deliveries, but they showed net losses of 55 to 65 points with Octo- ber selling at 24.50 cents and Decem- Der at~24031 cents. Covering became more active around these figures and there may have been some buying for a rally on private complaints of rains IF. the southwest and scattering re- ports of better spot demand.
 The tone of the market remained more or less unsettled, however. and the bulges ret considerable liquida : tions, although net prices were about 8 to 16 points up from the lowest. Prices reflected an increasingly bear ish influence in Liverpool owing to crop reports from the south.
 Much of the selling local market was attributed to liquidation of old long accounts, the holders of which were believed to have been discour- aged by the recent aclion ofeprices and the failure oe spot demand to develop more active-y. Port receipts 14,S59. United States port stocks 527,315. Exports 2737S, making A. -153,637 so far this season.
The Birmingham age-herald., 1923-04-17

Eggs kept in cold storage for one year lost 10 per cent of the total weight. due to evaporation Of water from the whites.
The Birmingham age-herald., 1923-04-17
NEW ORLEANS COTTON FUTURES
GpnT COTTON

NEW ORLEANS. April 16.-spot cotton ,teady. 63 points lower. Sales on the spot, 23i3 bales; to arrive, 200; low middiing, 27 e5c; middling. 2sc. good middling, 2s.50c. Receipts. 1883; stock, 1S9,oSo. NEW YORK. April 16.-spot cotton was quiet; lniddling, 2S 35c.
 FORT MOVEMENT
 Nav Orleans: Middling, 2sc; receipts, 1ss3: exports, 5,T31; sales, 251S; stock. Galveston: Middling, 27.95c: receipts. 1sss exports 1i.5ki' sales. 7ooi stock Mobile: Middling. 2s soc; receipts, l; Savannah; Receipts. 2,763; exports. so4; sales, ils; stock, 452Os.
 Charleston: Stock. 32332.
 wiimi1xton: Receipts. g. stock. 25.s7s. Texas CitX: Stock, 479. . Norfolk: Middling, 27 .b0c; receipts 4-S' sales. 54; stock. 6S,040.
 Baltimore: Stock. 2,3S5.
 Boston: Middling, 2s.75e; receipts, s4s; Philadelphia: Stock, 4,572 New York: Middl.cg. 2s,25c; receipts, l19; exports. 263; stock, b7,5l9.
 Minor ports: Receipts. 9.sS2; exports, 9.s32; stock. 7.037.
 Total today: Receipts, 14,s44; exports. Total for week. Receipts. 17.s4s; ex- ports. 29,4b9.
 exports, 6,402.ls4.
The Birmingham age-herald., 1923-04-17
DRy GoODS MARKET

NEW YORK April 16.-Cotton goods market in first hands quiet today and gray goods prices softer. Yarns ruled quiet with prices nominal and easier. Burlaps were weak and generally quiet. Raw silk was down about 10 points with trading light. Dress goods were firm and quiet.
The Birmingham age-herald., 1923-04-17
=-7--l---l-----s8s------- INTERIOR MOVEMENT

Houston Middling. 2Sc: receipts. 73 shipments 11.191; sales. 336: stock. 9,746. Memphis Middling. 29c: receipts, I.54ii shipments 1,4l5; sales. 100; stock, Sls3s Augusta: Middling, 27. 75c; receipts. 39s stock. 37,25S.
 st. Louis: Middlng. 2sc; receipts, 1.1os; shipments, 1,172; stock, 15.2S9.
 Atlanta: Middling. 2s. 20c. Little Rock: Middling, 2s e5c receipts 14: shipments, 24; sales 1Oe; stock, as, 300.
 Dallas; Midd.lng, 27 zoe
 Montgomery: Middling, 27.50c.
 Total today: Receipts, 3,ss6 shipments. i3,S SOP, stock. 63.029.
The Birmingham age-herald., 1923-04-17

Ground beans are fed to horses of Arabia when extraordinary service is
 An N-ray clock that measures the wave length of all N-rays is expect ad 70 give valuable aid iH cancer eases.
The Birmingham age-herald., 1923-04-17
GnTTON SEED OIL

NEW YORK, April I6.-Cotton seed OH was heavy under rather general liquida- : tion. induced by the slump in lard Al and aa! in the south and less bullsh ideas as to the probable showing of the census re- port on consumption. Closing bids were IS to 20 points net lower. Sales. 1o,50O barrels Prime crude 25c. nominal; ; prime summer yellow spot. II 50 IF. 1oc j; May II 60c July, Il soc; September II 50c, all bid.
The Birmingham age-herald., 1923-04-17

NEW YORK. April ts.--Flour steady; spring patents. s6 50 or; spring clears. S5.50q6; soft winter straights. s5 20 a $ 25 hard winter straights, s6Q6.5 50. Pork steady; mess, s27 .509 2s; family, s32@S3; lard easier; middle west, S12.15 a 12. 25. Talow steady; special loose, S%c; ex- tra, 9c.
The Birmingham age-herald., 1923-04-17

NEW YORK, April 16.--Butter steady; receipts. 4231; creamery higher than ex- tras, 46 F Q47c; creamery extras. 92 score, 46c. Eggs firm; receipts 13,S54 fresh gathered extra firsts. 28 F e 30 lac; firsts, 27ia % 29c. Cheese steady; receipts, 120,- 946 pounds: state whole\ milk, flats, fresh specials, 22@2 23c; average run, 211ac.
The Birmingham age-herald., 1923-04-17

CHICAGO, April 1s.-Butter higher; creamery extras. 46c; standards 46c; ex- tra firsts. 45m45Iac; firsts, 44t2 Qi44% c; seconds 43Q i4c. Eggs higher: receipts, $6,s55 cases: firsts, 26h q27c; ordinary firsts 24 ia e 25c; miscellaneous 26 p261s sc; storage pack, extra, 29c; storage pack, firsts 2S94c.
The Birmingham age-herald., 1923-04-17

ST. LOUIS. April 16-Hens, 22c springs, 32c: 1928 springs, 52c; turkeys. BOG: ducks, 25c geese, 13c. Eggs, 25c. Butter, 47c.
The Birmingham age-herald., 1923-04-17

CHICAGO. April f6-FolIowing are the opening. high. low and close ill grains and
The Birmingham age-herald., 1923-04-17
LIVE STOCK

LOUISVILLE, Ky. April 16.-Cattle re- ceipts 900; active. steady; heavy steers sSQs.75 beef steers, s5@s.25. heifers s4 @8 25; cows, s2q6 50; feeders, s6a ' 52; stockers. S3, 60 Q6 .65.
 Hog receipts. 2,9oo; 1oc higher; 1si pounds up, $s 50; 19o 10 165 pounds. s795 90 to 120 pounds, $ 75 90 pounds down s5; throw outs, s6 50 down.
 Sheep receipts, 50; steady fall lambs s13 sheep, s6 down.
The Birmingham age-herald., 1923-04-17

CHICAGO, April 1s.-Poultry, alive higher: fowls, 24c springs, BOG; roosters, l7c; broiIers. 50 e 60e
The Birmingham age-herald., 1923-04-17
PRODUCE AND POULTRY

TOLEDO, O., April 1e.-cash wheat, s1 S7 .3S. Clover seed, SIP. Alske. s1O 60 Timothy seed. 80 30 asked.
The Birmingham age-herald., 1923-04-17

NEW YORK, April 16.-Live poultry steady; chickens by freight, 24@ 55c by express, 27 c 45c; fowls, 2Sc; reosters. 1tc turkeys 25c. Dressed poultry steady. western chickens. 1s445c; fowls. 21@31e: old roosters 16q 22c; turkeys No. 1 fresh, 31 q 36c, frozen, 32 e 3Sc.
The Birmingham age-herald., 1923-04-17

NEW ORLEANS, April l6.-Rough rice quiet sales none; millers receipts, 226 sacks; clean rice firm; sales, 1,5s5 pock- cts Blue Rose, aM414c; l2S second heads. 3lsc; 542 pocket screenings. 2Q2Ac Re- ceipts f1S76 pockets Bran and polish unchanged.
The Birmingham age-herald., 1923-04-17

CINCINNATI. O., April 16.-HoE re eeipts. 6,S00; active; steady to 10c lower heavles. ss ,75GS. 90; packers and butch CTS; ss go; heavy fat sows; SCOT; pig and lights. s6qs 10; stags. S4g5.
 Cattle receipts, 1.700: steers and ligh cows steady heifers and heavy cows weak IS G 25c lower: steers. si.5O09; heifers steady; medium and common, 50cQS' higher, s5Q10.
 Sheep receipts. 25; steady. s3as.5o sheared. Sl. 5045; lambs steady S7d II 50; sheared. $5al1.25; sprina SIS a 20
The Birmingham age-herald., 1923-04-17
CASH GRAIN

CASH GRAIN
 fed Sd 9a!s si Anf i5 Nc. red si sssa p May. s1 1.24Is @1.24s4: July. s1 21 s4 a 9l.22. Corn: No white. SSqs31ac: No. 3 white, S1 F 6DS21ac; May, 791s @ I9c. July, s0QSl7sc. Oats: No. 7 white. i7iac: No. 3 white. 46l2c; May. 45ssc; July. 46 isc.
The Birmingham age-herald., 1923-04-17
HOW TO WIN $1,O00

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The Birmingham age-herald., 1923-04-17

KANSAS CITY, April 16.-Cash wheat: No. hard, s1 19 91 .2s; No. red sl.2s@ S3. Corn; No. , white, Sl l5c; No. vel low s3lec. Oats: No. ? white 17c: No. 2 mixed. 46 x Q4Ic.
The Birmingham age-herald., 1923-04-17

NEW YORK. April ls.-cattle receipts
 ' eoWs T@ s'eFFs Car eus 1sceDts ss 4,793; higher; veals. s9@12.76; euls. s6Q | s; little calves s4q6. Sheep receipts, 5.390: firm sheep, un- shorn, s5,50@s culIs, s3@5; unshorn lambs s12@14.75: clipped lambs, .ssQ12.25: i Hog receipts. l1,l2d: higher; medium ss. 75q9; roughs s6.75@7.