davidaulloa/AmericanStories huggingface dataset:
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-03-22

and theology IN the Lnlru party
movement; as against the preponder-
ance of workers and exploited farm
ers, their leadership and theology, in
the farmer-labor movement.
Forces Making for Third Party
The forces moving with various de-
grees of political consciousness and
determination in the direction of a
third party are dominated by the
petty bourgeoisie. Altho this move
ment includes large sections of
organized workers and exploited far
mers, yet its political expression and
leadership is conferred in group of
petty bourgeois liberal Senator's and
Congressman known as the La Fol-
lette group, which really represents
the interests of well-to-do farmers
and small manufacturers and other
middle class elements. This group
in Congress is looked upon by mil
lions of workers and farmers as their
leaders against the domination and
oppression of big capital. And it is
this fact that makes the political
strategy of the La Toilette group one
of the determining factors making
for the formation of third party in
the coming Presidential Elections.
The strategy of the La Toilette
group has been to gain the leader
ship of the revolving masses prefer
ably under the banner of the Re-
publican Party. If they fail to con-
troll Tie Republican Convention they
will very probably split and try to
unite the entire mass revolt against
the two old parties into third party
under their leadership. On account
Of the great and rapidly growing dis
content now existing in the ranks of
both old parties this split may be of
such far-reaching nature that sec
ton of the capitalists will go along
with it in order to control it. In
such an event the new party would
approach the old parties in character.
The Conference for Progressive
Political Action is another political
force moving in the direction of a
third party. Altho it is based on and
maintained by the railroad unions
it's political theology is very much
the same as that of the La Toilette
group. The leaders Of the sixteen
standard railroad unions who are
also founders and leaders of the
Conference for Progressive Political
Action, were committed up till the
Feb. 18th Conference in st. Louis, to
the nomination and support Of Nc
Adoo on the Democratic ticket.
But because McAdoo was involv-
ed in the Teapot Dome oil scandal,
they did not dare to nominate him
at st. Louis, but contented them
selves with vague third party propa-
ganda and the calling. of the July
ltE Conference in Cleveland. A few
days later, however, these same lead
ers of the Conference for Progress
sive Political Action participated in
the McAdoo Conference held in Chi
cago and endorsed McAdoo as presi-
Dental candidate of the Democratic
Patty. Since that time, however, the
chances of McAdoo receiving the
Democratic nomination have dwindl-
ed down 10 zero and this has drawn
the C. p. P. A. more deeply into the
current of the third party movement
led and directed by the La Toilette
group
But it can safely be depended up
on that the reactionarv labor lead
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-03-22
Present Economic and Political Sit

longer fits the economic facts, begins
to destroy the individual ownership
of which it was supposed to be the
basis.
Capitalism, blindly following its
own laws and appropriating the prod
ucts of agriculture, has changed the
fundamental basis Of the system of
agriculture by taking the ownership
of the land from it's tillers, but it
has failed to substitute the social
and productive forms necessary to
adjust the individual productive
forces to the centralized financial
control and ownership. The result is
the, present major dislocation, the
wholesale exodus from the land of
the bankrupt farmers from their
fiourishing industry. The entire agri-
cultural system has been brought to
fundamental crisis by the opera
tions of capitalism. This crisis has
shaken the conservative and individu-
alistic American farmers out of their
old political channels and is forcing
them in alliance with the city work
ers and middle classes, into indepen-
dent political action.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-03-22
Biggest Campaign Fund
Wins the White House

NO be president of United States unless the
capitalist interests GIVE HIM THE MONEY the
form of campaign fund with which to run.
Since 1860, with exception, the who had the
biggest campaign fund has been elected president The
exception Wilson's second election in which (unIes the
secretly and handled) the mionares Tin
Guiding Mr. Doheny up only 81 Wilson,
while other milonaires (ncluding Harry SincIair gave
$2,012,535 to Charles E. Hughes campaign
The presidents of the United States from 1860 1920
with their campaign funds
1860-Lincoln 1O0OOO-elected Douglas $4,000
Breckenridge,-
1864-Linco.n, $125 000-elected Mcclellan, $4,000
1S68-Grant, $50, 0O0-elected Seymour, $4,000
18Z2-Grant $3.50, O00-elected Greeley, $4,000
1S76-Hayes, $780, 00O-elected Tden, 100000.
1e80-GarfeId 81, 1O0,OO0-elected Hancock, $355O00.
18S4-Cleveland, 0000O-eleced Blaine, ST 100000
1eS8-Harrison, $1350O00-elected Cleveland, $s55,0OO
1S92-Cleveland $2,3500O0-eected Harrison, ST
1S96-McKinley $16,500 000-elected. Bryan, $675OOO
l900-McKinley, $500, 00O-elected Bryan $425 OOO
i904-Roosevelt, $780, 00O-eleced Parker ST. 100000
19O8-Taft $1,700,000-eected. Bryan, $75O,O0O
I912-Wiison, $850OO0-elected Taft, $750,OOO
Roosevelt, $325OOO
l916-Hughes $2,012,535. Wilson, ST. 400 229-elected
1920*-Harding (admitted), $2,741 SOB.
Cox (admitted), $1,170321.
These officially but
millions secretly raised WIN
Harding and Coolidge item alone
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-03-22

ers controlling the G. P
not support a third part
unless they are driven
pressure of the masses,
quite likely to betray the
ment by endorsing one
of the old capitalist par
tial candidates in the {
ton
Forces Making for a F
Party.-The forces max
formation of a class PAL
ers and exploited farm'
marily the left-wing o,
unions and the politics
sections Of the exploit
These forces have crys
a number of city and s
labor parties, most of w
lowing the lead of the
Farmer-Labor Party anC
ers' Party. The nation
this movement is the
committee in charge Of
ton of June 18th. in
In this combination Of
ing for the formation of
mer-labor party, the "
ty, and the Federated F
Party are the most consC
termined factors. A l
of this combination. altl
lily in favor of a Rss
strongly influenced by
|of the La Toilette Oup,
therefore, one of the mo
and urgent problems Of
the farmer-labor forces
course of action which,
ing contact with the bro
| ty movement, will at lth
bring about he crystaNi;
workers and exploited
a separate class party oi
Workers Party it
Our attitude toy Al
from the old PARTED :
ment for the split Of
and farming classes a
bourgeoisie away fro
can and Democratic P
are dominated and cd t
capital is creating
change IN American 4 /
not solve any of the 4
workers and exploite
bring any real relief
theless, this split We j
the development G
gle and must be !,
Workers Party for Id 1
sons,
|. 1t represents a .
ers, farmers and lowq
owning class agains
domination of the bill
breaks the capitalist 4 I
ems their leadership
workers, farmers and
and professional elem
hitherto followed. thet
successful united al
workers more difficult
2. Millions of vol
farmers are follow
movement away FRONT
The split breaks the
masses. sets them in J
ders them highly sus
paganda for a class ri
Of these working ant
es from the capitals
they have followed
properly utilized, ma
starting point for 4
|of a orroaf nlooo fsa-r
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-03-22

The Economic Situation
I INDUSTRY The industrial system
4 of America, alone among the cap
italist nations of the world, still
shows great strength. The year
1928 was a peak year in production,
in spite of the drastic curtaiIment
of exports as compared with other
boom years. This unprecedented ex-
pansion was, however, due largely
to tremendous capital expenditures,
Constructive, building, requirements
Ind extensions of plant and equip
ment), which have already reached
close to the limitations imposed by
production for profits. The con-
tinuous decline since May, 1928, now
interrupted by a slight counter-ten-
dency, altho it still leaves produc-
ton on a fairly high level, shows
that the limits Of the domestic mar
ket have been reached.
The enormous capital expendi-
lures, by increase Of plant and equip
ment, have still further increased the
potential productive forces of Ameri-
can industry, but no new markets are
available to absorb that production.
The pressure Of the accommodating
capital, intensified by the influx of
gold into America, is already presag-
ing a crisis in industry, and at the
same time is bring about tremendous
internal changes.
Concentration Of capital is pro-
lceeding at an unexampled rate; new
industries, infants of a few years ago
like oil and automobiles, are becom-
ing giants; great industrial trusts
that completely overshadow anything
seen before are coming into being;
the economic basis is being complete
ed for the most powerful imperial
ism the world has seen.
The present depression is undoubt-
eddy leading to crisis, in which cap
italism will repeat the historic cycle
described by Marx. This develop
ing crisis is bringing with it the in
evitable pressure upon the working
class, in the shape of wage reduce
tons, wars against the unions,
lengthening Of hours, and loss of
previous gains IN working conditions.
At the same time it makes more diff
ficult any effective economic strug-
gle.
The weakness Of the labor unions
is accentuated by the complete bank
ruptcy Of the official leadership,
which is going over bodily to gn open
policy of collaboration of classes,
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-03-22

Memorandum to the E. c. c. /.
Adopted by the Central Executive
Committee Of the Workers Party,
March is, 1924. Submitted by Fos-
ter, Cannon and Bittleman.
The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-03-22

These officially, generally understood that
several millions secretly raised and Colonel
$35O0O00 Sinclair
Of Harding and Coolidge, item alone
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
Cotton Crop Conditions

The condition of the cotton crop
in the United States on August l
was 67.4 per cent of normal, com
pared with a condition of 71.2 on
June rs, 1924, and 67.2 on July rs,
1928.
Judging from the relation of
condition on July rs and August
rs to final yield in former years,
the condition on August 1 indicates
a yield per acre of about 1853
pounds and a total production Of
about 1881 900 bales Of 500 pounds
gross.
Last year the production was
10,128,478 bales. the average pro-
duction for the five years from 1915
to 1919 being 11,481 ,084 bales.
This was the first report of con-
dition and forecast Of production
published by the Department of
Agriculture for August 1. and was
issued in compliance with an act
passed by the past Congress.
At the same time. the Census
Bureau announced that 21,924 run
ming bales, counting round as half
bales, were ginned from the cotton
crop Of 1924 prior to August /,
compared with 64,3S1 for 1923.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08

NEW YORK-The July output of
steel ingots was 1,S69,41 tons, a
decrease Of 237,O50 tons from the
preceding month.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
COTTON CROP IS
BETTER THAN
AVERAGE
Total Production Of 1885,.
600 Bales Compared With
1,4e1 ,084 in Past

The condition Of the cotton crop
In the United States on August /
was 67.4 per cent Of normal, com.
pared with a condition of 71.2 on
June rs. 1924, and 67.2 on July 25,
1928.
Judging from the relation Of con-
dition on July 25 and August 25 to
final yield in former years, the
condition on August l indicates q
Weld per acre of about 1853
pounds and a total production of
about 12,351,00O bales of 500
pounds gross.
Last year the production was
10,128,47 bales, the average pro-
duction for the five years from
1915 to 1919 being 11,4S1 ,084 bales.
This was the first report of con-
dition and forecast of production
published by the Department of
Agriculture for August /, and was
issued in compliance with an act
passed by the past Congress.
At the same time, the Census
Bureau announced that 21,924 run.
ming bales, counting round as half
bales, were ginned from the cotton
crop of 1924 prior to August /,
compared with 64,381 for 1928,
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
O|LPRODUCT|ON
DROPS DURING
WEEK
Declines 1900 Barrels Daily
From Preceding Week,
Report States

Crude >oil production in the United
States during week ended August 2
averaged zoos, 100 barrels daily, a
decline Of $500 barrels daily from
the preceding week, according to
estimates Of American Petroleum
Institute. In week ended July 90
production was at the rate Of 2,005,-
900 daily, according to revised fig.
ures. including pools not previously
reported. Domestic output aver.
aged 2,24O.o0O barrels daily during
week ended August 4, 1923.
Oil imports were at the rate Of
228,143 barrels daily last week, com.
pared with 203,571 daily in week
previous. The receipts of Califor.
mia oil at Atlantic and Gulf coast
ports increased from 40,286 barrels
daily to 86,143 daily.
Though there were increases in
daily crude oil production last week
Of 4,100 barrels in California, 2,0CO
in Oklahoma and 1900 in Kansas,
these were more than offset by de.
clines Of ALSO barrels in Arkansas,
$500 in Central Texas, 1850 in
North Texas and 1850 in North
Louisiana. Decline in Arkansas to
a daily average Of 144,950 barrels
occurred mainly in Smackover light
oil. California produced 628, 300 bar.
rels daily, fields in Los Angeles
basin showing small increases.
In Oklahoma the Cromwell pool
increased it's daily average from 49,
700 barrels to 81 900 and Stroud
from II, 500 to 1880, but production
in Burbank pool declined from So.
200 barrels daily to $1,000, so that
the daily output for the State was
only slightly higher at 487,95 bar
rels. Central Texas produced 49,
800 barrels daily. Corsicana- Powell
field remaining unchanged at SO 400
barrels a day and Mexia showing
slight decline. Luling field on Gulf
Coast receded in production from
44,400 barrels day to 1920. Wy.
oming, Montana and Colorado com.
bined had daily production Of 1885,.
200 barrels, increase Of 700, Salt
Lake field declining from $1,000
barrels day to $4,000.
Compared with a year ago, the
current domestic production Of
crude oil at the rate Of zoos, 100
barrels a day is more than 10 per
cent lower, and just about as much
In excess Of production at the begin.
ming OF this year. With the domes-
tic consumption of crude running
100000 barrels a day, the new
supply Of oil is less than the lie.
mand. At this time a year ago
production was nearing it's peak
volume of $4,000 barrels a day in
all California and $4,000 barrels a
day in the Los Angeles basin, which
Is now producing 80 per cent less
than the maximum in August, 1923.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
Chicago Grain Market

CHICAGO, Aug. Son account of
a good shipping demand the hog
market was steady to strong today
compared with the average prices
paid on Thursday. There were 80 900
received and outsiders were expected
to buy $4,000. Top choice light was
$10.S5, with the best heavies at
5000. The market was so cents
higher than a week ago.
Cattle values were not much
changed with demand rather slack
and unsatisfactory. Plain heavy
steers were the hardest to sell. Cows
and heifers sold steady to weak and
bulls were generally steady. Calves
sold actively and feeders were un-
changed.
Good lambs were quoted the same
as Thursday. Feeder lambs sold
readily.
Hogs-ReceiptS 10000. Market steady
to strong: Bulk. $s,2591o,2o; top, s1O.S5;
weight, IlOOo01C.sS; light y10 weight meal Ssa
@l0.SS; light lights, $s.OO@1O.2O; heavy
packing sows. smooth, $S.55@9.0O: pack
ing sows' rough, $s.1o@S.65; pigs, $500
Cattle-Receipts, 1000. Market stsadv
seer steers, medium and heavyweirht-
Choice and prime, $10.50@II.50; medium
ana good $S.0099.50; good and choice.
$1O.9O % II; rs; common and medium, 81. 90
%yoo: Butcher cattle. heifers, $4,000
CCoO; cows $3.760S.00: bulls, $4.OO@7. 90
Canners and cutters, cows and heifers
1zOO LOO; Gamer steers $5.o007o0:
veal calves eight and handyweishtI
sto OSg 1l $50 feeder steers. $675@s.25
and heifers. $3.oO@5.5O; stocker csIvs.
$5.50@s.O0. ealVes'
sheep--Receipts 10000. Market sta,dv
Lambs. fat, $125O@13.9O: lambs, cuiIa
1000 911.bO; wethers, $S.0o0s'00: eros
$S90WI'76; ewes, culls and common
$t.SO % 500; breeding ewes, S6.b01iI So |:
FEEDER lambs, $11.50@13.o0.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
CURB PRICES ARE FIRM
IN DESULTORY TRADING

NEW YORK, Aug. S.-Prices
were firm on the curb market to-
day in desultory trading controlled
almost exclusively by professional
traders and stock pools. Early ir-
regularity in Standard Oil stocks
was followed by renewal of buy
ing interest in these shares, and
prices made an immediate response.
Industrial and speciality stocks were
generally inactive and prices as a
rule showed little change from
those prevailing at the close Of the
previous session.
In the Standard Oil group Prairie
Oil and Gas sold in good volume
at PIP, a slight gain, Prairie Pipe
Line was fractionally lower at 106,
Standard of Indiana unchanged
around So, Standard of Kentucky
at 114h, and Standard of New
York at 40H. In the Independent
Oil group, Royal Petroleum sold at
6h, Lago at Az, and Mutual Oil
at 113s.
Industrial stocks improved as
the session advanced, and prices of
active issues compared quite fav-
orably with those of the previous
session. Easy money conditions, as
evidenced by the further decline in
the Federal Reserve Bank redis.
count rate, was not a special stim-
ulant to the stock market, as this
factor has long been present in
the speculative district.
Radio stocks were in good de-
mand at current prices, with Du-
butler selling at AM, Ware Radio
at 10, Radio Corporation at 5A.
Motors were steady. Durant sold at
19H, Gillette Safety Razor at 292,
Lehigh Valley Coal certificates at
41ss. New Jersey Zinc was strong
and sold at 155h.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08

New York funds in Montreal 1855
premium q $1,000.
Montreal funds in New York 1856
discount % $1,000.
PHILADELPHIA Total car
loadings Of the Pennsylvania sys-
tenn for the week ending August 2
were 153,587, an increase of 5,357
cars over the preceding week.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
STOCKS SHO "
IRREGULAR
TREND
Profit-Taking Causes Prices
to- Sag After Strong and
Active Opening

NEW YORK, Aug. S.-After a
strong and active opening the
stock market exhibited further ir.
regularity under profit-taking to-
day, and with the exception Of the
merger rails. prices began to sag
shortly after the opening of the
market.
With the sharp advance in ster-
ling exchange, the marking down
OF the New York Federal Reserve
rediscount rate and the "semi-offi-
ciap' statement of the terms Of the
MCKEE Plate consolidation all COM
ing after the close Of the market
yesterday, there was a natural de-
sire to observe the effect of these
important factors on the markets.
Adjustments in the railroad shares
were quite we'll made prior to the
announcement and only fractional
price changes were recorded in
most of these stocks. In fact, the
real sensation Of the railroad share
market was Lackawanna, which
jumped nearly points at the open.
ing to new high at 1891, up
about 10 points from last weeks
close.
Pere Marquette gained a point at
66% and sold up to 6S in the first
half hour, but it met heavy selling
Ut that point and declined to 66A
Erie was reactionary from the
start, and sold down from 1914 10
BIZ. Chesapeake and Ohio was
down fractionally, and Nickle Plate
after a fractional gain at the open.
ing, sold about l point higher. Pr.
ferred stocks of these companies
were generally active, with the best
price record made by Pere Mai.
quette preferred up 8 points at T6h,
Oil and INDUSTRIAL stocks made NJ
particular response to the new evil
dences of easier money conditions.
General Electric made a 3-point
squirt at the start and then declined
IN good order; speciality stocks, like
Cast Iron Pipe, encountered plenty
OF selling pressure and were unable
10 advance; oil stocks were conspic.
uously inactive, but with few exccp.
lions prices were firm. Phillips Pc.
troleum lost more than a point on
announcement of the offering Of
new stock at $S2 a share. Famous
Players lost point at Sly, and
Foundation Company was sold in
volume on the decline. Liberty
bonds sold higher on easier money
conditions, and foreign exchange
showed further effects of the prog.
ress of the reparations conference
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
Chicago Grain Market

CHICAGO. Aug. s.-wheat open.
ed u to Y lower. Corn IN to
Us higher. Oats, IL to Y higher.
Opening prices:
Wheat-Sept., 12S% @12s; Dec.
1917 Q132; May. 1871 @13s.
Corn-Sept., 114%; Dec, 104hA
los: May. ll0561O5K.
oats-SPt.. 4sh949k; Dec.
l&0s2; May. sax 6blK.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
Foreign Bonds
Liberty Bonds
Business Briefs

NEW YORK-Surplus for six
months ending June 80 of Associ.
ated Oil Corporation was $4,434, DOT,
equal to $1.9S share against &c..
253,072 or $1.41 a share in the
first half Of last year.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
N. Y. Cotton Market

NEW YORK, Aug. S.-The cot.
ton market was higher at the open.
ing today. October sold at 1925,
up 10 points. December, 27.53, up
10; JAN, 27.45; up II.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
ATTEST NEWS AND QUOTATIONS OF THE FINANCIAL MARKETS
Local Stocks
FURNISHED by W. b. Hibbs & Coz
SALES.

IFurnlsheu Dy W. .. E1IDUs q OUJ
SALES.
Washington Gas IS, $1,0OO@9SA,
$500@98A.
Washington Gas 6s '33, $1,000
1005s, $400@1O05s.
Capital Traction, 1O@94. 1904,
1904.
Washington Gas Light, 10@49%.
Real Estate Title ms. Co., 1Q154.
AFTER CALL.
Washington Railway & Electric
Gen. & Ref. Is '33, ,O0O@9S%,
$2,0O0@98A, $1,O00@98A.
Call loans-Money, sos per cent.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08

NEW YORK-Gross income Of
the Superior Oil Company for the
quarter ending June 80 was $685.
SS4 compared with $302,726 in the
same period last year.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
Curb Stocks

FURNISHED by w. B. Hibbs & Coz
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08

NEW YORK-The Phillips Pc.
troleum Company Is offering to
stockholders 37O,133 shares of stock
at 1872 a share.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
Foreign Exchange

FURNISHED by w. B. Hibbs & Coz