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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jul 11, 1920
Page
3
Publicized notes show the U S expenditures totaling 6 766 444 461 and a Terra year end 30 1924. officials form protective committee as creditors push for action. The woe list cites tax and customs revenue impacts amid the financial strain.
The bank shows a deficit after a year of operations with total expenditures at 6,766,444,461 and receipts lower by 71,879,072. The report notes large war debt remaining and discusses taxes, savings, and prospects for reduction in deficits, plus a review of monthly disbursements and a separate note on Washington railway company defaults impacting bondholders.
Parsons & Co with Donaldson and Norment met Philadelphia officials to decide action as June 30 bank deposits fell to 162 747 567. Losses concentrated in national banks and trust firms with savings banks largely spared. Trusts down 6 667 468 and national banks 8 667 265. savings banks down 599 480. Shrinkage attributed to May tax withdrawals and June 15 income tax payments and deposits pulled for Treasury certificates.
A garbled page lists more items than prices, including cheese poultry and varied fruits. It shows discounted figures for apples lemons Florida oranges grapefruit valencias navel oranges and many vegetables with inconsistent units and typos.
July 10 market report shows butter steady to firm with varied receipts and grade spreads. Eggs and poultry prices listed by region. flour, lard, oats, and wheat also noted with current price ranges and regional distinctions.
The week shows banks hold 10 017 800 in excess reserves, down from 43 407 856. State banks and trust companies report lower reserves and deposits while United States Steel announces unfilled orders totaling 10 978 817 tons for the month ended June 30, up from May. The Rev Dr Randolph to speak on Americanization at Foundry Methodist Church tonight on America the Land of Opportunity.
The Hudson owner notes each car as best in its series while praising today’s Hudson as superior to earlier Super-Six. The basic Hudson principle remains, but the model gains smoother operation easier driving and fewer annoyances. The updated Super-Six nearly reaches peak perfection with enhanced overall performance.
The Interstate Commerce Commission heard from steel manufacturers led by Daniel Willard and J. F. Townsend warning a mill shutdown without relief. They urged faster coal movement to the Midwest and larger open-top car fleets, predicting needed cars and costs running into the billions.
J Th A Morrow, president of the National Coal Association, urged the Interstate Commerce Commission to extend a 30 day priority order for open top cars at bituminous mines. He said adequate car supply is the primary remedy for abnormal coal prices and that shortages will persist without more cars at the mines.
President may refer rent act dispute to the Attorney General after Clara Sears Taylor and Postmaster Chance clash with District commissioners over Eagle Mut post office. District officials deny rent commission jurisdiction, raising questions amid coal shortage data and production targets for winter.
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