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Newspaper
Athens Banner
Location
Athens, Georgia, United States of America
Date
Dec 31, 1921
Page
7
Negotiations between the Mexican government and oil interests proceed per Secretary of Finance Dora Huerta. An International financial problem is expected to reach a favorable settlement, signaling progress in the ongoing discussions.
A Secretary filed suit following publication by El Democrata of an editorial on Thursday stating negotiations had failed. The brief alleges defamation and seeks redress for the statements published in the newspaper.
New York police and prohibition officials intensified efforts to trace poisonous bootleg liquor after nine deaths and numerous illnesses in six days. Victims include Carrie York a Ray haired woman and several others among them George Co Henry and Charles Williams with John Dooley a 14 year old boy in critical condition at Bellevue hospital. The Kings County grand jury seeks wider cooperation to crush bootleg traffic.
President Harding expressed optimism that 1922 will bring national business improvement. In a message released by the Omaha Chamber of Commerce, he praised traveling salesmen as ambassadors of business and said their efforts spur American confidence and growth in the coming year.
County officials announce a survey of the Princeton road leaving Athena. Homer K. Nicholson leads the project, expected to finish within weeks so paving can start early spring. A $30,000 federal Highway Improvement Fund allocation funds the project as authorized by the county commissioners.
Armour Herse ls, formerly Minnie Armour, defends Vienna surgeon Adolf Lorenz over a Journal of the American Medical Association note labeling his treatment not a cure for Lolita Armour, daughter of J Ogden Armour. She recalls 1903 04 operations by Lorenz and Dr Ridland in Chicago and says partial gains came from prior work.
Los Angeles reports more alienists will be called Friday to testify for defense in Artur C. Burch’s murder trial of J Belton Kennedy. Three experts already testified he was sane, while the prosecution has mental specialists under subpoena to counter the defense's claims.
The Georgia Markets conference program at the State College of Agriculture is nearly set and will be announced January 1. Dr Andrew McSoule, college president, said experts from distant areas will participate, and the program is expected to include notable national figures.
The American proposal to imitate auxiliary naval craft up to 10 000 tons was virtually agreed by the arms conference naval committee with all powers, except France, approving in abeyance. An added provision limits guns on auxiliary craft to eight inches, as France’s approval remains tentative.
The Bance Italiana di Sconto, once open, received a court granted moratorium effective for one year. Operations continue except payments, which will resume as tribunals permit daily withdrawals as the exchange rate fell from 2.90 to 23.60 per dollar.
The Industrial League circulated a note to members about the Banco Italiano di Sconto suspension in Rome. Brokers dispatched a commission to Rome to discuss exchange and the crisis. Early reports claimed confidence remained in financial circles and other banks were not affected. Lima hit by blackout after dynamiting power lines to disrupt New Year services. Major buyers of American-made automobiles include the UK, British India, Canada and Cuba.
Good middling cotton quoted 19% cents in Athens Friday as little movement occurred. New York futures opened firm with January at 18.97 and March at 18.85 amid reports of improved textile markets in Europe and steady to higher bids in Orleans and Liverpool. Prices fluctuated through the day. March near 18.99 at times, late session firm with gains of 18 to 26 points. New Orleans spot steady at 16 to 18 cents with modest sales and a reported brokerage failure causing brief market uncertainty.
Chicago markets show mixed opening wheat quotes with declines and advances, followed by broader weakness as corn and oats fail to gain traction. Livestock demand remains uneven with cattle dull, hogs down and sheep steady to lower amid large receipts and weakness in beef and pork values.
The New York stock market opened the last full session of the year with little change. Sears Roebuck led gains of 3 to 4 points on a stronger financial position, while copper and other metals rose due to Montana reports of forthcoming mining resumption. Rails oils steels showed no clear tone amid broad selling of low priced shares for cash to cover margins.
Market reports cover Chicago dairy butter eggs and refrigerator eggs, with steady or mixed prices. Potato market shows steady Northern white and Idaho sacks. New York raw sugar and refined sugar levels unchanged. Live poultry prices listed for New York, dressed poultry weaker. Savannah naval stores show firm turpentine and rosin values with receipts and stocks. Halifax reports blizzard conditions halting street car service and a note on Pennsylvanian driver license vision and hearing requirements.
In New York the cottonseed oil market closed steady with prime summer yellow at 8.23 to 2.45 and prime crude at 7.00. Notable contract figures include Masel 619 April 2002 May 0 19 May 16 June 0.05 July 9.23 August 9.25 with total sales reported at 22,500.
New York reports show cotton prices steady to firm with some decline in rejection and liquidation. Traders note short positions covered, expectations of a market pause, and pockets of buying interest led by some southern mills and brokers amid volatile pricing.
New York AP reports New Year’s Eve broadcast plans as radio operators join in a nationwide moment at midnight December 31 1921 with Rev Lages Boove delivering a radio sermon from station 2BAK in Tarrytown New York plus prayers hymns and seasonable songs for a large audience aboard ships and inland stations.
E W Wagner and Co, premier New York cotton options broker, faced downfall as the New York Cotton Exchange faltered. The firm, once a leader with direct wires to out-of-town houses, suspended business Friday and drew sharp public criticism for its conduct on stock dealings.
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