davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
NEW GRAIN BOARD
TO OPEN MONDAY
New York Produce Exchange
Trading viii Begin
First of Week.
By BERTRAM G. ELMER.
pec,al Disnatch 10 The star


NEW YORK, July 3l.--Long re-
garded as just another Of the small
brothers running In and about between
the towering legs of the big financial
markets. the New York Produce FIX
change has suddenly taken squirt
and grown right up to elbow It's way
in among the chesty boys.
Trading In grain futures will start
on the Produce Exchange next Mon
day, and the members confidently ex-
pect this development to have a stimu-
lating effect on the big Western mar
kets.
Seat Price Doubled.
Prices Of seats on the Produce Elk
change have more than doubled as a
result OF the new move. The latest
price was $3.50, a new high figure,
and higher prices are expected. Be.
fore the grain futures market was
proposed. the seats We're selling for
around s1,150. Grain operators from
Winnipeg, Baltimore, Duluth, Buffalo
and Kansas City have bought seats
recently at around $4,000.
During the first few weeks, until
the new exchange machinery has been
thoroughly tried out. dealings would
be confined to wheat futures.
The new market will mean much to
Duluth, Minneapolis Chicago, Winni.
peg and all other principal grain cen
tiers of the West, according to Axel
Hansen, chairman Of the grain futures
committee He believes the New York
market will be an ideal one for hedg-
ing operations. IT will have wire con
nections with all the principal markets
and plans are being completed for a
20-second cable service between New
York, Liverpool and London.
VIII Knit Sections.
The New York market will he the
truest expression Of the commercial
values of all descriptions of Western
wheat, said Mr.. Hansen. The East
and West will be closely allied. AS
delivery will he at Buffalo on a New
York contract the price of futures will
be based on the cheapest of the better
grades of Western grain, plus trans.
portation to Buffalo.
Buffalo is really the gateway to the
greatest consuming district in the
country, the Eastern seaboard. S we'll
rs TO the export trade. Heretofore,
with no market here for futures. there
have been periods of inactivity. princi-
paIly because the foreign buying has
not been continuous. With the New
York contract In effect, the wheat will
be purchased, brought down to Buffalo
and kept there in warehouses. This
can be hedged or sold or exported.
Buffalo. in addition. is one of the
greatest milling centers in the coun-
try"
Mr.. Hansen said the New York Off
Gals were working closely with the
Chicago Board of Trade officials. who
have co.operated readily and ex-
pressed the belief that the friendly
relations would continue in the future.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
EVERYMAN'S
INVESTMENTS
Investing and Hoarding Compared.
BY GEORGE T. HUGHES.

Investing and HOarding Compared.
Throughout all this series of ar
ticles on investment principles there
has been a constant endeavor to inn
press upon readers the fact that safe
ty In investment IS entirely relative.
There is no absolutely safe security
under any and all conditions and for
all time In one form or another and
to a greater or less degree risk is al
ways involved.
That much being clearly under
stood 1t will be interesting TO inquire
whether risk is eliminated by refusing
to invest at all Is all danger avoided
by depositing cash in a safety deposit
box or burying money in the orchard?
Assuming the box at the bank can
never be opened by any one else than
the owner and that no other person
discovers the buried hoard. 1t would
seem that the possibility of loss had
been completely removed.
But let US look a bit further. If in
1918 a Frenchman had taken either of
these methods TO keep his fortune in
francs intact where would he be now?
His losses would have been just as
severe as If he had bought bonds with
his francs and much more severe than
IL he had bought real estate. 1t
would have worked out the same way
IL German had hidden away his saw
ings in marks before the World War.
OF course this could not happen with
American dollars, although there was
q period in the history Of the United
States just after the Civil War when
this now commonly accepted axiom
did not appear SO self-evident.
Still there is hazard about burying
American gold dollars. Suppose you
had concealed in some safe place
81 900 dollars in 1896 and should
bring It out now. You would still have
the same number of dollars but you
could not exchange them for the
same amount of goods and so YOU
would have lost just as really as If
you had made bad investment; that
lis, bought some security which had
suffered heavy depreciation in market
price. II follows then that merely re.
fusing To invest your money does not
enable you 70 attain to that acme of
safety which Go miser has always be-.
fore him
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
COTTON IS STEADY;
RANGE IS NARROW
Weather News Keeps Prices
Sustained at About Open
ing Level.
BY the Assnciated Press.

7
NEW YORK, July 3l.-tFotton fu-
lures opened steady; October, 1772;
December, 1870: January, 17.72;
March, 1894; May, 1907. The market
was steady this morning and after
opening points higher to lower,
showed little fluctuatien during the
first hour. Numerous showers In the
belt and fears of more precipitation
over Sunday, together with large
weekly sales of print cloths at Fail
River. induced enough local covering
and Wall Street buying to sustain
prices around opening levels. Crop
reports continued generally unfavor-
able, indicating that the plant Is In
need Of hot, dry weather.
New York cotton futures closed steady
unchanged to points downs
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
New Orleans Quotations.

NEW ORLEANS. July 31.--Cotton
futures opened steady; October. 1883;
December, 17.47; January, l7.4o;
March, 1859 bid; May. 1859 bid.
The market opened steady and
first trades showed gains of to 4
points. The early strength was due to
continued bad weather In the belt.
Liverpool was closed today and will
remain closed Monday for the custom
airy bank holiday. The market, al.
though quiet continued to improve
after the start, owing 10 reports of
rains I'm the Central and Eastern belt,
October trading to 1866. December to
17.55 and January to 1852, or s 10 10
points above yesterdays close. The
market was steady at the highs at the
end of the first hour.
New Orleans cotton futures closed
steady at net advance OF 4 10 8
points.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
FOREIGN EXCHANGE.

NEW YORK. July 81 Foreign
exchanges steady. Quotations lin
centsl: Great Britain, demand
4S5 lille; cables, 1856 3-16 60-day bills
on banks. 48lsi France, demand
2421a; cables, 2.43I2. Italy. demand,
S.2212; cables, 3.23la Demand: Bel
GUM, 25312; Germany. 23.S0; Hol
land, 40.13ls; Norway, 21.S9 Sweden,
26751a; Denmark. 2G.51: Switzerland,
39.S4ia; Spain. 1875; Greece. 1.0912
Poland, lips; Czechoslovakia. 2.96;
Jugoslavia, LIZ; Austria. 14.12l2; Ru-
mania, AS; Argentina, 40.561a: Brazil,
1871: Toxic. 47.3712;. Shanghai,
70.75; Montreal, 100, 159s.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
II. s. STEEL AND GENERAL MOTORS
PULL ALONG ONLY SPECIALTIES
Outside Developments Show Favorable Trend With
Industrial Centers Reporting Unusual Expansion
Commodity Prices Working Slowly Upward

ally large and this, no doubt, has had
it's effect upon stock market senti-
ment.
Money conditions remain about the
same as they have been for the past
month, save for slightly firmer ten
dency in the market for time funds,
and should business continue good,
somewhat higher rates can be looked
forward to in the Fall
Call funds for stock market pur-
poses have renewed throughout the
past week at per cent, but the rate
on new loans was advanced to 5 per
cent just before the close yesterday
This was the result of nothing more
than the withdrawal of funds for end
of-the-month requirements. This con.
dition was only temporary and there
lis little doubt that there will be an
abundance of money available for
stock market requirements for some
time to come.
Investment Market Dull.
The investment market has re-
NAMED dull, but with prices firm. In
terest in the stock market proceed
ings has diverted attention from
bonds, hut has resulted in no weak
ness.
ANOIHIIlS 6AjTdOTNMidCN mas nap
pened in the French financial situa-
ton. French securities generally are
quoted where they We're a week ago,
while the franc remains about u
cent above the extreme low of 1891
Whether the Poincare cabinet will be
successful in its efforts to burden the
French people with increased taxes in
face of the failure of other cabinets is
a question. The decision of the coah-
ton cabinet. however, not to apply
for ratification of the American and
English war debt agreements, leaves
the situation for the time being an in
ternal one.
The commodity markets have been
influenced chiefly by weather condi-
tiQns. With the Government cotton
crop report indicating yield almost
as large as that of the big 1925
harvest, the commodity remains at
quotations slightly above what is
generally conceded production costs
for most growers. Seasonably quiet
conditions have prevailed in wheat
and other commodities.
Dun's comprehensive list of quo
tations discloses 81 advances, as
against % declines These COM
pared with last week s. compilation Of
80 increases and 90 reductions. and
for the corresponding week of last.
year with So advances and % reces.
gionS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
FOREIGN BONDS.
Sales in
aknfNannda
NASH STOCK SOLD.

BOSTON, July 81 GP.-David II.
Howie. one of the executors Of the es-
tate of the late James ]. Storrow, an
nounced yesterday that the Nash Mo-
tors holdings of the estate had been
sold privately for investment. The
identity OF the purchaser was not
made public and the announcement
made no mention of the purchaser or
the amount of stock involved.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
Playwright Under Knife.

LONDON, July 81 [P.-Henry Ar
thur Jones, the dramatist has been
operated upon for kidney trouble. The
surgeon who performed the operation
SAYS he is pleased with the progress
the patient is making despite his Is
wears
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
COTTON GOODS FIRM.

NEW YORK. July 81 Special
Cotton goods markets closed the week
active and firm with print cloths un,
changed at ~ for 64x60s and sig for
6Sx72s. Raw silks We're quiet and I'm.
changed.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
Your Banker. Knows.

When in doubt about a security
consult your banker. 1t Is equally as
much his interest as your to protect
your savings. You trust him with
your deposits-why not trust him
with your investment problems2
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
RANK CLEARINGs.

NEW YORK. July 81 (SpeciaD.-
New York bank clearings, S1,079 ,0O0.-
600: New York bank balances, $780,.
600 900; New York Federal Reserve
Bank credits, SOS 900 900.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
RUBBER UNCHANGED.

NEW YORK, July 81 (SpeciaD.--
Crude rubber, smoked ribbed sheets,
was unchanged at today's quotation
of 39Ia This compares with 42l2 a
month ago and IS a year ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
GERMAN BONDS AND STOCKS.
touoted in dollars per million marks;l !,
BOSTON STOCK MARKET.

BOSTON, July 31.-Following is a
list of today's highest, lowest and
closing prices for the most active
stocks dealt in here:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
DISCOUNT RATE UP.

PARIS, July 81 CP).-The Bank Of
France today raised its discount rate
from per cent to ~ per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-31
Prompt Action
First Mortgage Loans

Lowest Rates OF Interest and Commission
Thomas J. Fisher & Company, lnc.
738 18th Street
Evening star., 1926-05-23
By Louis Tracy
SYNOPSIS.

S1NOhSlS.
JIM Parke Hudson Bay Comnany's agent
at Moose Lake. is greatly disturbed by a
news item in an English paper announcing
the coming marriage of Alistair Spencer
the prospective groom the heir presump-
tive, of Lord Oban, whose only son. John
ago and whose death is about to be presumed
by law. Parke decided to leave Moose Lake
and to go back to England, -
Arrived at Edmonton he tells Mr.. Leslie.
Company. that he is John Bridgnorth Panton.
Maple. Ieshe's daughter. is a sympathetic
listener to the tale. and she encourages her
father to help young Panton.
IN II ono IhS m Eesn Psnto Gra rs
after the ceremony she learns that John
Panton is alive and is his way TO England
aunt. Lord Oban. John Pantons father,
tells Eileen that his son had been dismissed
from the army for c3wsree TndeT fire Ire ar amd
give him Eileen goes off to Inverlochtie
with Alistair as planned. but she tells him
until the matter about John is settled to her
satisfaction.
John. accompanied by his dog Spot. ar
rives in England. He carries letter of in
production TO Mr.; Leslie brother. a lawyer
living at wimbledon. The Leslies invite him
pitality. shortly afterward Maple arrives.
While walking through the streets of
Arthur ,Frensham. who tells, him that he
has evidence that Panton had been drugged
by one of his men ON the fatal day he re-
John lmparts this bit of Information to
Mr., Leslie and the latter calls meeting
land Yard: his assistant Furneaux: Mr..
Mountford. Judge of the Probate Court. and
Eileen reads letters which come from John
TO his father and to Alistair and she is con-
fident in her belief i'll his innocence. She
auarrels bitterly with Alistair.
Continued from Yesterdays Starr
Evening star., 1926-05-23
The Lam of the Talon

"Mebbe not all, sir" was the eau
tious reply.
"Oh, is Miss Betty stiff in my wife
room?"
"Ah'm thenkin so, sir"
We'll, well. What gossips these
women are!'
Some mischief was brewing-that
was evident--but the fact did not dis
turb his rest. He slept soundly and
was his urbane self when he strolled
into the breakfast room next morn
ing. The Hon. Betty Bridgnorth was
at the sideboard, hesitating between
scrambled eggs and tomatoes and kid
neys and bacon. She elected to take
both.
Had a good night. Betty?" he cried.
Fine. Why were you up so early?
who said l was?'
"Alistair, If YOU don't learn to tell
the truth occasionally you'll get into
horrible trouble one Of these days. "
rs it Of any real Importance that
should take quiet stroll before break
fast?"
mo. Indeed, it would do both you
and me good If we ran a mile on an
empty tummy. 1 was just talking on
general principles"
Lord Oban came in. The Lansings
ering was notably silent over the
meal, but that is nothing remarkable
at any British breakfast table, where
any one inclined to cheerfulness Is
generally regarded with suspicion, II
not positive hatred, by every other
person present.
Alistair had special cause to chew
the cud Of reflection; for once in his
life he had not been quite careful
enough.
The letters were taken from the
mail box by one Of the gardeners in
trusted with a special key, whose duty
1t was to put them in a locked bag
and post them in the village. The
man was leaving the house when ALI
stair hailed him.
"Ah, Brown" he said. coming
through a wicket gate which sepa-
rated garden and drive. I'm glad
saw you. 1t won't take 10 seconds to
run through the bag and see II I've
posted a letter to some fellow-dashed
if l can remember his name-Dor-
rington, 1 think it is-to whom I
wrote yesterday It's Of no impor-
tance, but I don't want to either ap-
pear uncivil or write twice"
The gardener opened the post bag
and glanced at the addresses on some
thirty letters. Alistair helped. There
was no letter for "Dorrington," nor.
what was far more to the point, for
"the Hon. John Panton."
Alistair looked duly mystif1ed. Then,
clapping a hand to his head. he pro-
duced a bundle Of correspondence
from a pocket.
Evening star., 1926-05-23
HE CRIED. "WHAT TRICKs ONES MEMORY PLAYs!

by gad." he cried. What trick
ones memory plays! I've just remem-
bered putting the bally letter here,
and I didn't post it when I dressed
for dinner last night. Here you are!
Sorry to have troubled you. Brown" "
That's all right, SIR" said the man.
hurrying off.
Now, the two had met almost on
the exact spot where Eileen first no.
ticed Postmaster Macdonald the pre-.
ceding evening. so they were visible
from many windows. 1t did not mat
ter, of course. The incident was a
perfectly natural one. Alistair, some
of whose actions were molelike in
their borrowings. gave no heed to the
fact that some one in the house
might have been admiring the land.
scape just then.
Copyright 1925. by Louis Tracy
Continued Tomorrow
Evening star., 1926-05-23
A Hop Farm.

From the Ohio State Journal. Columbus.
Texas has a large corporation de
voted to raising frogs for the market,
the tract of land used being a great
natural swamp, the home of thou
sands of frogs. The fish have been
taken out and the series Of lakes
made in the swampy lands will be
the growing place for the frogs, ana
Texas now claims it will have the
largest frog farm in the world.
Evening star., 1926-05-23
GRANDSTAND FOR 100000
URGED AT EPSON COURSE
New Structure Planned for 10000
Persons Considered Too Small
by Some
By the Associated Press.

LONDON, May 22.-Epsom race
course, where the world famous derby
has been run annually since 1880, is to
lose it's 96-year-old grandstands after
this years race on June 2. The old
stand. which holds only 5000 persons,
is to be replaced by one accommodate
ing 10000.
While plans have been drawn and
arrangements made to build the new
stand, a movement has been started
to make the structure considerably
larger and the finest in the world.
It is pointed out that the Fleming
ton stand, in Australia, accommodates
10000 persons and that as the attend
ance at the derby averages 800. 900 to
half a million racegoers. EPSON
should have the largest stand possible.
or at least one seating 100, 900 persons.
Evening star., 1926-05-23
FRENCH TOWN HONORS
MEMORY OF DEFENDERS
Tablet Put on Each House Where
Deceased Soldier Of World War
Lived.

By the Associated Press
PARIS, May 22.--At Enghein-Les-
Bains, small town to the north Of
Paris, the memory Of every soldier Of
the town who fell in the World War is
preserved by a tablet placed on the
wall of the house where he lived.
These tablets, about inches by s.,
are the same for the simple soldier as
for the officer. They show a furled
flag with the words Here lived
who died for France"
NJ. V. Thuau, himself a veteran Of
the war Of 1870 against Germany. was
the originator Of this scheme. which
has since been copied by other towns
in France. At Enghein two hundred
commemorative tablets have been
flxed on the houses. The funds are
derived from voluntary contributions.
Evening star., 1926-05-23

next 18 months,
according to Wat.
son b. Miller,
chairman Of the
legion's national
r e h a b iii tation
committee.
Work on q new
n e IL ropsychiatric
hospital at Bed
ford, Mass. involv.
ing the expend-
iture of $1,5O0,0OO
and providing bed
space for 800 men
tai patients, will
begin within a few
weeks. Work has
begun on a tuber-
CYIlOSiC hocY,itol Of
Evening star., 1926-05-23
GERMAN WAR PENSIONS
EXCEED PREPARATIONS
Civil and Military Doles Are $132,-
$50, 900 in Excess Of Dawes
Payments.
Rr the Associated Press.

BY the AssOCfHteu FTtss'
BERLIN. May 22.-The German
Reich is carrying greater burdens
than the annual reparations payments
in a system Of civil and military pen
sions and rehabilitation work. The
1926 budget appropriates f370,356 900
for these purposes. The reparations
bill for 1926-27 is about s23S, 700, 900.
More than S20,500,000 of this sum
goes for pensions to 800 former high
financial and state officeholders, in
cluding 200 whose positions correspond
to those of former governors in the
United States. Federal and state cab
met ministers. regardless Of length of
service, receive pensions from 10000
marks a year up.
Evening star., 1926-05-23

Laura Hale. Daniel J. Leahy was ap-
pointed to act as treasurer and Com
mander A. E. Pierce as secretary.
Under the auspices Of the veterans
welfare committee of Department
No. /, Veterans Of Foreign Wars. the
initial department automobile outing
will be held to the estate of DR.. M. L.
Turner of Berwyn Heights, Md, June
6. Heretofore, Charles Kohen, chair
man of Equality Walter Reed Post.
No. 284, outing committee, has enter
tained the boys of Mount Alto and
Walter Reed Hospitals. This has
been done for the past three years,
and, owing to the success and appre-
citation Of these outings, the Depart
ment decided at the last encampment
to hold department veterans outing
and enlarge the scope Of activities by
entertaining the veterans of all Gov
ernment hospitals in the District.
Charles Kohen is In charge of the out
ing and has designated the following
to take charge of the caravans OF au-
tomobiles leaving the various hos
pitfalls at 2 pm: Walter Reed Hos
pital, Frank G. Thomas, Samuel Ber-
lin; Mount Alto Hospital, f. j. st.
Jacques, Charles Kohen; Naval Hos
pital, John j. Buffalo, c. Brewer c..
Jennings: st. Elizabeths Hospital,
Everett Miller, John J. Allen; Soldiers
Home, Frank Heise, w j. Keefe: Tu-
bercular Hospital, Ernest Wickstrand.
The caravans upon leaving the hos.
pital grounds will be met by Metro
politan motor cycle police, who will
escort the veterans to the District
line. Music will be furnished by the
Almas Temple Shrine Band, and sew
eral selections will be rendered by the
Masonic Glee Club. Mrs. M. L. Tur-
ner, with the assistance of Mother
Steed, will supervise the handling of
the refreshments. Ice cream, cake
and soft drinks will be served Maj
Turner will furnish the cigars and
cigarettes. 1t is expected 500 men
will be present
asked that 100 cars be donated, with
drivers. His address is 6O6 Thir-
teenth street.
After the business meeting Of
Equality-Walter Reed Post, No. 284,
Veterans of Foreign Wars, at Pythian
Temple May 20, the annual memorial
services were conducted by the post
chaplain. Capt. John Hall, in memory
of the departed members of the post.
committee was appointed to confer
with the officers of the Ladies' Auxil-
iary with the view of aiding in con-
Quoting a membership campaign for
the auxiliary in order to develop the
auxiliary to a strength commensurate
with that of the post
An invitation was received from Ad-
miral Robert E. Peary Ship, Veterans
of Foreign Wars. to accompany that
post in conducting it's memorial serv-
ices May 81. These exercises will con-
sist of dropping a Buddy Poppy"
anchor in the Potomac River with ap-
propriate ceremonies. The post will
sail down the river on the Sylph. the
yacht of the Secretary of the Navy
leaving the navy yard at 10 am.
Evening star., 1926-05-23
American Legion.

AS a part Of the $87 10000 Govern
ment hospital program, sponsored by
the American Legion. many new hos
pital projects will be launched or COM
pleted within the