davidaulloa/AmericanStories huggingface dataset:
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21

The feeder is just 4 machine to +,
turn corn into beef. When the |
price of beef is low and the price
of corn is high as was the corn
in 1924, the machine which con-
verts one into the other will be
cheap. In 1924 the abundance of
hogs and the scarcity of corn
helped keep the price of beef low
and the price of corn high. Low
stocker and feeder prices were m
evitable under these conditions.
But this year the corn crop is
O0,000.00O bushels larger than
last. And there are relatively few
hogs to eat it. So we have less
competition for the corn. This will
keep the price of corn relatively
low. Nor will beef be obliged to
compete with cheap pork in the
retail markets. So the price of
beef will be high. Naturally this
will create keen competition for
the feeder who turns cheap corn
into high priced beef. Corn will
probably be as low as 20 cents per
bushel at the farm in November
and December this year. The
cheaper corn gets the more will
they bid for a feeder steer who
can turn that 70 cents corn into
$l4.00 beef. So the man who has
feeders to sell should not be in a
hurry, and his banker should help
him in this program.
One other special matter in the
situation should be mentioned here.
The future for beef is going to
be good for animals of high quail
ity and younger steers. This is
the first time for FIVE years in
which the older and poorer stuff
could be sold at a good price. The
scarcity of pork makes that pos
sible. Every wise grower will
take advantage of this situation to
rid his herd of all his old stuff
difu iCofu Oiiy youiS SdlliC ain
breeding stock of the best quality.
So there are six years of pros
perity ahead for the cattle coun-
try. / venture to predict that with
improvement in quality and good
management in marketing it will
be the most prosperous six years
the industry has ever enjoyed.
The reason why cattle prices re-
main high when once they rise is
that it takes about four to six
years to increase the supply of
cattle on the market when once
that supply gets low. And the
reason they remained low during
the years 10000 was that it
took S years to decrease the supply
materially. On January /, 1920
we had 43, 100000 cattle other than
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
Preparing POntOOns
For Work in Raising
Sunken Submarine

new London, Conn, Oct. 20.-(AP)-
WA four mooring buoys in place to
shlen ne pontoons will be attached
Immediately upon arrival from the
.svliolk navy yard, the United States
a1y - prepared to start a final at
emp. to wrest the submarine S-61
ssn Inc sandy tentacles of the Attain
W. potion off Block Island. In heavy
- which made diving hazardous,
zy divers from the submarine res
"a place.
pNefs report that the submarine
- shifted its position somewhat and
~ mes almost fiat on it's side.
o,i me Brooklyn navy yard has been
. MseIed to rush construction of six
~. m'ional pontoons that will be used
~ Inc four from the Norfolk navy
.aao IN the efforts to raise the sub
i. aptain E. ]. King, commandant Of
y " submarine base here. home station
~ 4 'ne Sol, has been designated by
~ secretary of the navy to take
tons. 9diFasihg opera
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
Einstein Theory
Proved Good

Pasadena, Oct. 20 - (AP) - The
Einstein theory has been tried on the
pup" and it has made good.
With the aid of the Dog Star Sirius
and its celestial but invisible pup"
DIR. Walter S Adams, director of the
Mount Wilson observatory, said that
one Of the bases of Einstein's PROPOSE
ton, which says that light has mass
and is subject to gravitational attrac-
ton, has been further substantiated.
Sirius companion Is said to have a
density so great that a pint bucketful
of its substance would weigh 25 tons
on this earth. With such density
goes exceptional gravitational pull,
say the scientists and DIR. Adams ev-
periments established the fact that
this star were bent by this heavy
drag.
The conclusion reached was that
light is not illuminated nothingness,
but that it has mass and, that being
the case, it is prone to be attracted or
repealed by certain forces, notably
that of gravitation.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
Saws Quacks Are
Sill With Us
And Going Strong

cb;caro. Oct. 20-(AP)-Quack
Assuming an ancient craft, still
sourishes to an incredible extent IN
Ill ace OF touted public intelligence,
ss;5 Tr. Arthur ]. Cramp. director
If the bureau of investigation OF the
American Medical Association. he
suoks ID officers of the American
academy OF Ophthalmology and OF.
ehrynology, which, starts its annual
convention here today.
There are styles in quackery" ne
asserted. "The prevailing modes OF
the current season are those products
so]d for alleged rejuvenation. They
range from glandular substitution
from the ring-tailed monkey to ra-
dun emanations dissolved in drink
Ing water.
But in quackery there are certain
Old stand-bys that like Tennyson s
brook, 70 on forever. There are con-
sumption and cancer cures: the cpl
iepsy and rupture cures; the female
Weaknesses and weak men cures !:
cures for fairness and leanness; and
quacks who will fit glasses on no
other data than your age and ability
70 pay the bin and the fakir who will
sweepingly promise to cure deafness
Of whatever origin.
"Quacks may be divided into two
general classes. Those who sell a
more or less elaborate but worthless
course Of treatment, and those who
dispose Of trivial, worthless and Oft
en- dangerous devices at exorbitant
prices.
Virtually all Of these widely ad-
yertised cures are sheer medical
nkery. The testimonials, bulletins
ana other paraphernalia are usually
made from whole CLOTH"
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
Str. StOckwell
Sinks Near Algeria

Boston, Oct. 20-lAP)-The stealn-
er Stockwell of the Brocklebank-
Cunard Line, reported on fire In dis
patches from London today. has been
sunk at Oran, a coaling station in AL
geria, it was said in advices received
here today from Lloyd's, London.
A fire starting between decks yes
terday. gained such a Roadway thai
II was necessary to sink the vessel IN
order to extinguish the flames.
The Stockwell was bound from Cal
cutta and Colombo to Boston. NE"
York and Philadelphia with a very
valuable cargo, which was heaVlly
underwritten by Boston companies Dc
we'll as by London firms.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21

better prices for farm products and
the clearing up of old debts, and in
the absence of home demand to alb
sorb it have sent a portion of it to
this market.
However, stock speculation in Wall
Street cannot be charged with alb
sorbing all of this increase of $780,
100000 borrowed on stocks and bonds
since January 7, for money is Dor
rowed on this kind of security for
real estate investment, for use in busi-
ness, and various purposes.
In connection with the above state
ments relative to direct borrowings
Tor commercial purposes, it may be
added that the amount of commercial
paper outstanding has been compare
lively low throughout this year. At
the end of July it was lower than at
any time since 1921.
Some Undesirable Tendencies
The business situation is essentially
sound, but there are signs and ten
denotes of which it is we'll to take
account. The extent of building OPP
erations this year is surprising, and
suggests the danger that at the pres
ent pace they may be carried beyond
present needs, and cause an unproht-
able tie-up of capital. Speculation is
rife in real estate, particularly subur-
ban property, in many localities. The
stock market has had lengthy period
of rising prices, justified in part GER
tainly by the improvement in the BUSH
ness outlook which has taken place
in the past year. Rising prices how
ever, always stimulate speculative buy
ing and there is limit beyond which
it cannot be safely carried on Dor
rowed money. 1t is sufficient to
point to the break in the market last
Spring if proof of this generally &C.
cepted statement is wanted. Install
ment buying is creating a great body
of indebtedness which will have a
| first claim on earnings in the future,
and while it stimulates business in
the present there may be unpleasant
after effects Prosperity breeds ex-
cesses, and these are symptoms to be
watched. The great body of the
business of the country, however, is
being conducted on conservative lines
and is in no present danger of being
affected by the conditions named.
The Crops
The crops rounded out in the hnal
calculation to be rather larger thar
estimated at the beginning of August
This is particularly true of the small
grains, and prices have suffered tc
some extent in consequence. Every
where but in the United States al
the grains have made big crops. TIL,
needs of Europe will be much les.
than last year, and Russia is again
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
Harvest Machinery Fails
I,d;ors On Rack to Rice Fields

cass Lake, Mimi, Oct. 20 CAP)-
Machinery, ally of the pale face, mas las
1aG,ad in it's effort to collect rice In
th ae inni,merable lakes Of Minnesota
s sne the Indians have been temper
a aI successful in defending :, Their I,aa
t traditional I'd monopoly of the wild rice
harvest. r;n+endent
~ the Consolidated Chlppewa
Agency here, said this was due ITO 10
he i'm nracticability of modern rice
h tnT machinery rather than to
the colnter efforts of the red man.
The indians were greatly alarmed
- the appearance of rice harvesting
machines. They not only threatened
to remove an indispensable means
Of making livelihood but iiter aho
DESTROYED the precious fields. me
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
Hold Negroes in
Theft of Large
Private Lot Liquor

New York, Oct. 2O.-(AP)-f OF
the theft of large private stock OF
liquor from Allan Bona, co..on
here and another in Richmond, va
Harry bennett, who was the brok-
er's valet, is in jail here awaiting
hearing, having been arrested aiter
his visits to Harlem cabarets with
woman aroused suspicion.
In Richmond, r. v. Haynes, a
taxicab owner, is opposing extradi-
ton. A New York detective said IN
Richmond that Haynes in COLLISION
with servants, used an acetyiene
torch to drill into the vault OF the
brokers' home where the liquor was
stored before prohibition. Inc liquor
was taken from New York to Rich
mond for disposal.
Mr.. Bond discovered the liquor
had been stolen when he ret nn me-
from Europe. 1t was worth Soo'oVo'
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
Tn. Future of Southern Industry

AS the cotton industry augments
in the South, the South's differentlal
of thirty per cent will be eaten into.
Increased demand for Southern sites
and labor and cotton and power Will
raise manufacturing costs in the
favored section. The newcomers
will not invest so largely in paternal-
ism as have their neighbors, the
Southern mill men. They will look
upon the native white population, &C
customed to a low standard of living
and untainted by radical proclivi-
ties" or foreign blood, as an exploit
able factor in the industrial calculus.
The responsibility of the managers
will be to themselves, and not, in the
old Southern sincerity or the new
Southern pretense, to the operatives.
Gradually welfare work everywhere
in the South will shrink, because
in the new competition that will in
vest the Southern section. every dol
lar must 3e rendered Immediately
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21

in his own bins. \ I
The opponents of price-hxing legis-
lation do not deny that If IN the
future the production of farm COM
modities. shall be in excess of de- :
mands prices will fall. They have
commended that the, low prices OF the
past were due to excess production.
and that the true remedy for them
was in diminished production. That
contention has been completely proven
by the course of prices in the past
year. They have in all cases risen
as supplies diminished and declined
as supplies increased.
The Law Of Supply and Demand
The lesson everywhere is that
price depends upon the relation be-
tween supply and demand, and that
price is the only trustworthy regulator
of production. It is the only regu-
lator whose influence will reach every
producer, and the only one which
directly represents the consuming
public. Everybody who is willing
to pay a given price for anything
helps to make that price effective.
and no price can be made effective
without Just that support. To fix an
arbitrary price, which does not have
this popular support, for the purpose
of giving better returns to the pro.
Queer, is certain to have the effect OF
encouraging a volume of production
which will not be consumed, and IS
unsound policy.
Despite all that is said to the con-
trary the law of supply and demand
| is operating practically as it always
has and the same in the other m
dustries as in agricultural products.
Sugar is an agricultural product, but
has been commonly thought of az
| under the control of rich corporations.
The industry is suffering from low
prices today more severely than any
other branch of agriculture, simply
because it was unduly expanded I'M
der the stimulus of war-prices. There
is no help for it except as production
declines or consumption increases.
The group of products classified by
the Bureau of Labor as metals and
metal products" including iron and
steel, copper, lead, zinc and various
products, had an average price-level
in the month of August only ~
per cent above the 1913 Level, while
the level of general commodity prices
was 60.4 per cent above. The prices
of oil and gasoiene are popularity
supposed to be under control, but
there has been abundant evidence u
recent weeks to show that they can
not be held up against productiof
which exceeds the demand.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
Deputies Hungarian
Parliament i'm Fight

Budapest. Hungary, Oct. 20-(By
the Associated Press)-The floor Of
parliament was the scene of fight
between deputies today in which one
man had his ears nearly torn off and
the aggressor was thrown bodily out
of the chamber.
Herr CONDOS, floor leader of the
Awakening Hungarians," was &C
cused by the Social Democrat deputy
Fabian of having made common
cause with Rumanian enemies OF
Hungary last week at secret anti
semetic congress held in Budapest.
CONDOS rushed across the floor and
seized Fabian by both ears and
nearly wrenched them off. The her.
culean Social Democratic deputy
Herr Payer picked up CONDOS and
tossed him over his head out into the
lobby.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
!. Eek Federal
NJ Il Solution Ill
y n..,,4nckY Tangle

III NS w Oct. 20.-(AFl-
pigsdlle. iii iii be sought by PIKE
yde.rsss Ksntucky' r elAI mine murder
6alusa h, Mccarr' y, ny Which ave per.
nlm .ssiudls case ,, ~ = of,icials
\, y: tun a adding that Ill J. Z t pousi
XIV wouloo, ing about the arrest
,seps u IN lack lack. ST.. believed TO DC
n Hungary. said by William n,
lack was Thought killed in a
sr ,,sturs Mecarr ,n mlne nn Uier' arrest
charged s W. story, to have obtained
6gare u =. for him to enter nun
1 passport believing Jack mas
gary. bes If the explosion which
sncsledss death of two men. ON,
.aused tne Nm arrested for alleged
assponla. It aliens into America
lsgs'ns months after me-, ne wa T, ~up
posed = a.t I'd as he landed IN New
vas arrs S, Europe last week. Foi-
York ron sheath" his wife and rel
loving n.as,;ved $4,000 from his IN
a aa,sncs policies VI r !hi + Farley.
s sIsnsr's sister. Mrs. r eio m 200 Viii,
Turner ss ! fla, gave him $lo,ooo M T,,n
Ismps' aid he gave his son lheo-
turner = fake to his wife. r
dore g !. under Indictment are Turn
Ihose and Mrs. Farley and Joe
er. Mf; and Jr. The latter is IN
IaS, o. sccuscd by Turner of tell
Jail nere, ha was responsible for set
, e ID 81 the blast; ..,,on+ 20 New
u ? s..sctiyes made public here by
ION -. ag n Johnson. telling his con.
snelYl nth his death" Turner SAID
recnos saten off his coat and vest
ie ~ Lore the explosion and the
sa.hIng was later found, slsihs INC
elOm .ss;or, he had been killed.
n Ks statement quoted him as say,
Ins lack Jr.. told him he would
ing . s0s guilty of setting off the
be NUE. advised him-at the point
plasI ~ a,s.oi--to leave the country.
o. p's sol,owed the advice but not
tun1 I. had made the trip to the
g n!aac = coast and to Florida, where
I . s;ster gave him the $4,000, AFTER
ny s,sss' hs was Alive. While in Flo
Atm 81 Turner also met his son Iheo-
asss , wept when he saw him 1,,
w si,er being given a passport. TUT.
M lent to Hungary, living at the
s ~ Il Joe Jacks stepdaughter.
a0,as canada, but after four months
s ..,',u s to the United States upon
, ,asa;rv that she intended to XII
"a ,s..' PfoNce. having learned of ms
,aas,ments from letters to his frienas
s nv arrested him Immediately upon
his arrival tryirr 70
....sl;sb . corpus deficit to deter
ssns he identity of the man whose
NAV hI's was found buried for Turner.
m Tnrner, carrying $4,000 insurance,
,.s me, him $500 a year. was on a
~ I aaa salary at the time of the ex-
,,osinn His wife, now in trenton
S0jf' has agreed TO return to the in
.r,snre company the sum paid her.
SuidneS
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21

plants will increase in numbers, and
more machine shops will be set up.
The supplying of power will grow
in Importance, and all the institu-
lions Of credit will expand, qlicken-
ing industrial facilities all along the
line. With alternate employments
open to Southern workers, the cotton
mill will have to offer higher and
higher standards of remuneration, Tor
it is agreed that little fresh labor
remains to be conducted into factory
employment, even under present con-
ditions.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
MotorbOat Wreck
Off Boston Lightship

BOSTON Oct. 2O-(AP)-Captaih
George A. Murley Of the BRUSH
steamer Hethpool, Halifax, n. 81 IoI
Boston today reported signing .nt
wreck of a motorboat 90 mics eas.
half south of Boston, Lightsnlp: IN
the how which projeced 10 feet above
water carried no name or nui! nn ~ Ko
toet long. painted white, with brown
~ '.to 80, and brass ratings leading. to
-, 800 how No motorboat answering
the description has been reporteo
missing.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
Disabled Steamer
Towed TO Boston Port

Boston, Oct. 2o-lAP)1Lhee, 5rt *
ish steamer King City, disapien u, .
miles east of Boston Ligh!snip Wy yo
cracked high pressure cyn GYM -, the
lowed into this port tonient ,,oT had
coastguard cutter TamPa, , w nv
o sd;o after the steamer sent out calls
for help. ber wav 10
pos+ Inc from swansea with a cargo
% coal when the accident occurred
81 Sta was the fourth vessel to receive
aid from the Tampa within a 1or1-
night.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21

as at present. transfer operations
when pressed by his workers.
The South is now on a one-manu
featuring system as much as on a
one-crop system. The workers
chances to assert himself are limited
so long as there is only the cotton
mil, for him to go to. AS 1t is
at present, cotton mill wages cannot
rise much above income on the land.
But as more mills are built in the
South other branches of the in
dustry besides spinning and weaving
will be entered upon. Finishing
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21
Money and Banking

Money rates have been frmer in
the past month under increasing de-
mands and some shifting of funds.
Other loans and discounts" in re-
porting member banks increased from
$500, 600, 900 on July % .to 1885,
100000 on September Is, the latest
date for which statement has been
made. This is the classification in
which commercial loans are included,
and the increase is normal for the
season of the year. As it compares
with Se,z22,000,000 on January last,
it indicates no speculative expansion
in regular business. Moreover, since
this class includes all unsecured loans,
these figures speak we'll for the gen.
eral credit situation.
When it comes to loans secured by
stocks and bonds, however, there is
proof to the contrary, as they have
increased from $4,6oS, 100000 on
January z, to S5,124,000000 on Sep
TENDER 16, and it is interesting to
find that this increase was entirely
among banks outside of New York
City. The loans of New York City
banks on stocks and bonds aggregated
$1,000. 100000 on January 7 and ST.
9S5, 100000 on September Is. This in.
dicatcs that country banks have sup.
piled the funds for the activity or
the stock exchange in recent months
Apparently they have had an increas.
! ing supply of credit, as the result oil
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21

an unsettling factor with its reports
OF a big crop and large exports
The latter have not materialized as
yet but the talk about them makes
European buyers very slow to buy
largely.
The feed grains, corn, oats, and
barley, are affected in their markets
by the fact that the number of hogs
and cattle has diminished. There is a
never-ending see-saw between the
value of these grains and the value
of live stock. The ideal situation is
to keep them in a close state of bal
ance, for they must be finally COM
bined in order to be marketed. The
fact that good crops of these grains
restores the live stock industry to a
normal basis must be considered when
there is disposition to be pessimis-
tic over lower grain prices.
Dairy products are a much larger
source of direct farm income than
any one of the grains put together,
and the production of these is helped
by good crops. Moreover, butter is
bringing better prices than q year ago.
Live Stock Markets
Professor David Friday, the we'll
known economist who was reared on
a Michigan farm and has been Presi-
dent of the Michigan College of Ag-
riculture, made an interesting address
last month before the Association Of
Joint Stock Land Banks, in which
he discussed the cattle situation. The
following paragraphs are taken from
his speech:
What is the ground for the be-
lief that range cattle prices will be
high this year and will remain so
| for six years to come? The prin-
cipal reason for the high price of
| range cattle is the high price OF
fat cattle. This is due primarily
| to the small supply of hogs in the
| country this year as compared viii,
| last year and two years ago. We
| had a pig crop of 100000 this
year in the corn belt as against
| H,500,000 last year and 81, 900 1000
two years ago. This means that
100000 fewer hogs will be mark
eted than a year ago, for we will
keep out more hogs for breeding
and 100000 less than two years
ago. The average hog dresses l6t
lbs. 50 we will have 100000, 00C
| lbs. less pork available in the coun-
| try than last year. And 2,300O0
| 600 lbs. less than we had in 1928
The average beef animal onl,
dresses little over 500 lbs. Il
/ would require 100000 beef cattle
therefore to make up the dehcien
cy in pork as against last year
and 100000 head to bring oul
II meat supply up to 1923.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-21

productive. Also, with increased
wages and bettered standards of liv-
ing, Southern operatives will demand
money in their pay envelopes instead
of seeing it spent in all sorts of
social services. Trade unionism will
strengthen its foothold in the South.
AS the industry is more and more
concentrated in this section, labor
Organization, indeed, may become
Imore nearly complete than 1t has
been in the North, for there will no
longer be a definitely non-union
| field to which the manufacturer may.