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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
May 02, 1922
Page
4
A Commerce Department survey of the international cotton situation through April 1 shows world consumption rising to an estimated 21,000,600 bales for the year ending July 31, 1922, with a projected carryover near 7,900,000 bales by July. The report notes a return toward prewar levels and highlights weather and boll weevil factors as key influences on future production.
A Baltimore market page lists butter prices across creameries and associated goods, plus live poultry quotes for various fowl sizes and weights. Grain futures show oats, wheat, and corn prices with nearby contract details and related market notes.
Markets show steady rates across major currencies with Britain at 4.4234, France 9.22, Italy 5.36, and Switzerland 19.38. Listings include Argentina 36.12 and Brazil 13.75 as Montreal quotes note 98 16.
The New York money market shows call money firm at 4 percent with closing bids around 4 1/2 percent and last loan at 4 1/2 percent. Call loans against acceptances stand at 7 1/2 percent with time loans steady for 60 days at 4 percent and six months at about 4 1/2 percent. Prime mercantile paper cited at 4 1/4 percent.
Negotiations between a new allied debt commission and the British Government over funding Britain’s 5 billion dollar debt to the United States may start this week. No meeting is arranged yet, but early development is anticipated. Secretary Hughes and Ambassador Geddes have discussed informally the funding talks, with Geddes likely to represent Britain unless England sends a special commission.
Governors of twelve Federal Reserve banks and the Federal Reserve Board convene for their yearly policy discussion. President Harding hinted he favors Gov Strong of New York attending the proposed international conference of banks, with officials noting a request to audit the conference may soon come.
New York reports three large municipal bond issues announced by banking syndicates on May first. Baltimore sells 8.382 million of 5 percent bonds due 1980 to 1952 for 107.805. Wilmington moves 746 thousand of 4 and 5 percent bonds due 1949 to 1957 for 104.677. Toronto awards 6.288 million of 4 1 2 and 6 percent bonds due 1922 to 1952 to Dominion Securities for 100.68, payable only in Canada. The Guaranty Company of New York also offers 560 thousand of 4 percent road bonds due 1932 to 1945 in Washington County Pennsylvania, priced to yield 4 percent.
Edmund Abbott West aged ninety nine, long linked as a founder of the Republican party, died in Chicago after pneumonia contracted on his birthday. Born in Elyria Ohio, he later moved to Wisconsin and served in the state legislature, participating in the Ripon meeting credited with birth of the party. He moved to Chicago in 1865 to practice law.
Chairman Volstead reported a Senate-passed measure to authorize additional grand juries for the District with minor amendments. Attorney General Daugherty sent a supportive letter noting the District’s need for more than one grand jury. Richmond authorities report the season’s first drowning in Falling Creek as L Allen Woody, 28, disappeared.
Joint Congressional Investigators conclude that federal intervention is only justified when rail disputes threaten commerce. The Anderson commission says wages rose to 105 percent of 1916 in 1921, with workers growing while hours rose slowly. It argues management should have freedom and labor may organize as needed, within uninterrupted service.
The commission urged adjustment by conference and prefer ed a continuing arbitration body. Experience shows that either side may refer disputes to such a body, yet this multiplies rather than diminishes disagreements.
Mrs. William Dove hosted Shorehem dinners with guests including Senator Dial’s daughter Miss Rebecca Dial who won first prize in a four act play contest. Miss Dial will present another work at Thorpe School Friday evening as the South Carolina society continues its events. Edward S. Schmid hosted an informal dance with attendees such as H Schrott Frank B Schmid and many others from the social circle.
Mrs Margaret Bacon Gilbert and daughter will arrive from Europe. Kip recovers from illness. Mrs Richard T Wilson hosts Sherry’s dinner for Mr and Mrs Harry Black. The Graves Goetz wedding moves to May 17 at 1615 Rhode Island Ave Washington. The Tegeptiaon will be at the bride’s uncle’s home. The Stillmans to summer at Burlington cottage Southampton. Billings couple at Ambassador until May 13 then sail aboard the Olympic. Irwin Laughlin and wife stay at the St Regis.
Court of Appeals upholds 26 000 verdict against Standard Oil, allowing heirs of Samuel B McDaniel to recover after a driver failed to prevent a fatal collision on Louisiana Avenue despite warnings by horn. McDaniel crossed the street when struck. attorneys Wilton J Lambert and R H Yeatman for the family.
Paris officials said ambassador Jusserand had not asked to be relieved and would not resign until he requested it. The report that Count Perretti Della Rocca would replace him was dismissed since Jusserand is Rocca’s superior. The government acknowledged no change unless Jusserand's own request.
The Court of Appeals ruled in favor of Mrs. Addie H. Snow over Chester A. Snow in the custody contest for Dexter Hubarg Snow. The decision assigns school- period custody to Mrs. Snow, father custody Saturdays, with alternate monthly terms and Sundays for the father, aiming for stable routines and Sunday school attendance.
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