Newspapers / Asheville Citizen (Asheville, N.C.) / Aug. 27, 1917, edition 1 / Page 10
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THE ABBEVILLE CITIZEN, MONDAY, AUGUST 27, 191T. r LANGREN HOTEL European Modern Fireproof t. ' A eboloa hotel la a choice location , Xta leading commercial hotel la the Carolina 200 Rooms of Solid Comfort .,.. " ( if Dancing every evening aa the root. : Guy S. Lavender, Mgr. MI A 3R. IK ET ;:MEg CLEWS' BE VIEW COURTLAND TERRACE 37 Coortland At. :. New and modern. Just completed. In Asheville's most ideal location. Entire new furnishing. Steam heat, private baths, hot and cold running water in each room. The most up-to-date place to stay in Atheville. Call in person to see this place and see how pleased you will be. Rates made for room with or without board. Single or suite of rooms. SPEND THE SUMMER ABOVE THE CLOUDS : EAGLES NEST AND CAMP Oa unsJuske mountain, overlooking WaynesvUIe and Lake Junaluaka. . . , v A summer report inoozsparable. Address 'ft, C SaUerthweit, Jr., Eagles Neat P. O, N. C. A rood automobile road Uada from Waynesvllle to summit KEN MORE HOTEL COMMERCIAL HEADQUARTER J; . Oa Mala BCOpen Throne heut the Ti ;,aV. B. SPEARS, Pros, WATKB8TUXB, M. a Tree Sample Rooms HENDEESONYILLE, N. 0. ' Secoad Ave. and Church Be ReDned Homelike Service for the Discriminating. Rates on Application. MRS. E. G. WILSON, Prop. AETHELWOLD HOTEL BRKVARD, N. C. MRS. A. H. KINO, Prop. Headquarters for Commercial Man. ' ' Modern. Fro sample room. , Free ear to station. Open rear round. Rates, fS.OO to 81.00. HOTEL BALSAM, BALSAM, N.C. An ideal spot for one to spend as outing,' Scenery and climate unsur passed and one ef tbe moat modern hotel In the mountains. Running water In all room. Private and nubile bathe. - TennU, bowline, dancing, mountain elinblng, fishing, eta. Highest Railroad Station Beat of the SWoklea. Altitude 1511. For rates, InformaUon or reservation, write to ' " " a M. WMTTMIDB, Pres.. THE IMPERIAL HOTEL .CANTON, N. a R. M. OETJER, PfoBw AMERICAN PIjAN. Bates, $3.00 Per Day. Special Bates by the Week or Month. NEW YORK, Aui. JO. The bust, neas world received a considerable shock from the government's soft coal price-fixing proposals, which proved more radical than expected and will probably not be carried out to the ex tremes feared In some quarters. The cut In soft coal, though tentative, waa particularly unsettling and somewhat prematurely accepted as an Indication at the future policy of the govo-zn-inent Action on hard coal, sugar and other articles haa been lesa drastic. The administration is undoubtedly justified, as a war measure, in putting some restraint upon the upward rush of prices and unscrupulous profiteer ing. It la also justified In buying; munitions upon as reasonable terms aa possible: but. as experience proves, it Is already treading upon quosuonarjie arround. and interfering with uncon- trollable economlo forcea In ways that mar easily do more barm than good Price fixing, as In case of steel, is not Infrequently impossible A price that la fair at one time or In one place, is quite unfair under other conditions. Fluctuations are unavoidable in all markets; costs of production vary and we cannot control artlclea of foreign origin. To put prices down without reason and o unduly curtail profits checks production ana tnrotttes enter prise. There is no surer way of in creasing supplies than by permitting good pronts, or vice versa, or ae c rearing supplies than by destroying pronts. There are some Mings me government cannot do, and one of these is It cannot run' the business of the United States, but can and should reasonably control It. If It fonflnea It self to checking extremes And to set ting examples of paying fair prices for what it wants, and if it will foster co operation between industries and aid in removing Impediments to distribu tion, that is about all it can legiti mately accomplish. Price fixing and Industrial control have been attempt ed in Great Britain upon a much wider scale than here for a longer period and under more favorable cir cumstances. Hut the effort has thus far .proved a failure and Is rousing a great deal of opposition in business circles throughout England. General buslnesa Is quiet, as usual during the mid-summer season. At the moment thla tendency la aggra vated by the uncertainties injected through experiments In government control. In due season these plana will become more definite and buslnesa will undoubtedly adjuat Itself thereto. The crop outlook continues to Improve, al though ordinarily August Is a month of deterioration. From many quarters the advices are that the grain yield ia targe ana quality good. Bank clear Ings are running from twenty-five to thirty per cent ahead of last year wnicn, allowing ror the advance In prices, shows that the volume of busi ness Is if anything ahead of thla time last year. Our monetary situation will bear watching. Forthcoming huge bond Issues will of course be the dominating factor. It must also be remembered that present high Drlcea lor larm products and 'merchandise will Impose larger demands upon the banks than usual when the usual autumn movement begins. Values on tne stock exchange have' shown marked declines this week, owing to the price-fixing policy of the govern ment, to tne proposal to increase taxes on pronts ana to unfavorable news from Russia. The bears seem to have been considerably elated by recent suc cesses, and there Is still a considerable short Interest extant. Fluctuations will largely depend upon the newa from Washington affecting the con trol of Industry and prices. It is to be hoped the revenue bill will soon be passed and that congress will adjourn. wgniy disciplined soldiers such aa Germany commenced the war with. will hereafter have to give way to the superiority of the big life-killing war machinery now In use, which calls for skilled mechanicians. Ths war la now a war of herculean machinery, which makes It tie more costly an 11 desperate In Its slaughtering powers while It lasts, but will make It shorter in the end; therefore, the aide that has the preponderance of facilities and money backlog la bound to win. For that reason the present war is not likely to hold out through another se vere winter In my opinion. The trenches will not afford the protec tion to life on the battlefield in the future that they have In the ast and the war has been prolonged up to the present time largely owing to the shelter of the trenches. The steady rise In power of the allies and corresponding decline smong the central powers strengthens the hopes of an early peace; albeit the end of the war is not yet la view. Germany is by no means exhausted to the point of submission to the well known terms of the allies. Nor are the allies yet able to deliver a decisive military blow. At the moment their policy appeara to be that of wearing the enemy down; the relative rise or fall in the strength of opposing armies being of more sig nificance for the time being than the acquisitions of territory which are geographically trifling. Aa the war goea on, talking and planning for peace oecome more and more definite. Opinion ta divided as to what the ef fect will be upon American trade, much depending; upon the individual point of view. There Is no doubt that peace will necessitate extensive read justments. These will come gradually and will by no means demand a return to Old conditions which la Imnnulhl Concerns devoted to war buslnesa will be obliged to scrap considerable of their plant or prepare for other lines of work. War nroflta would of course disappear, and a few lines of endeavor would cease entirely. But very Important offsets would aulcklv appear. The fact that the world had turned its face from destruction to reconstruction would at once set loose great economlo forces. Optimism would promptly succeed despair, and the work of rebuilding and rearrang ing me civiuzea world would start with a vigor that would soon overcome all confusion and hesitancy. Our steel miiia wouia receive no more war orders, but far better, they would be pressed with orders for shipbuilding, for railroads, for buildings and for all kinds of construction work in all parts of the world. . Our textile mills would soon recover from loss of war orders and be fully occupied with both do mestic and foreign ordors. Our secondary industries, such as automo biles, typewriters, agricultural imple menta, machinery, etc., would also be pressed with orders to make good war losses in Europe. Our mineral pro ducers would be equally aure of good markets and good prices; so, too, would the American farmer who may rest assured of good nrlces for all he can grow for some years to come. The irum 18 war has mnnvurlahnil th. wnoie world. The waste of life and weaitn nas been inconceivable xtii lions of lives have been destroyed nr Impaired, and the exDendlturna of war since 1UI4 or all nations have hun over 90,000,000;000. Everything grown or made by the hand of man Is scarce, .rears will be reerufred to refill tne enormous vacuum. and the scarcity or men or labor at a time when most needed means high wages. mgn prices ana a long period of In dustrial activity. ; Of course, there will be periods of weakness There will be grave impoverishment or some sections, as Well as the craah. Ing burden of debt upon all. Diffi culties, at Present unrjerealved an likely to develop, and recovery from war does not mean esoane from all Its losses. But let It distinctly be keot in mind, peace when it does come will find the United States elevated to a pre-eminence Industrially. dally and financially that would have required a genertain to attain, had It not Deen ror tnis cataclysm In Eurone. The war enriched us enormously, be cause of the profits obtained In our loreign trade and tne fact that we have been the least affected of any of the great nations. We have suddenly be come world bankers, securing a posi tion that will not be surrendered. Even ehould Great Britain recover her lead ership after the war. we will atlll be a close second. Instead of a distant third or fourth as before the war. Our for. i elgn trade ahowa phenomenal arowtn. ana wmie a neiter Daiance oetween im ports and exDorta mav be neeessarv. atlll' we have gained a foothold in foreign markets that will not be relin quished. Tbe future of American ex port trade ia exceptionally brilliant. By far the moat algnlflcant result of tne war to Americans will be the restoratl fit the United States to a fitting position as a maritime power. Our weakness In this respect has long been a thorn In our national pride. Before the war we ranked close to the foot of the world's sea-aolnar tonnaore! but within a couple of years, thanks to prompt seizure of a favorable op portunity, mis country may easily be come a second to Great Britain as a maritime nation The establishment of a big mercantile marine speaks volumes for the future of American foreign commerce. The war brought us two essentials ror International success banking power and our own shipping. It is literally up to our business men and our statesmen to pursue a liberal and constructive policy for developing our foreign trade and our merchant market This cannot be accomplished by any svstam f artificial supports, reprisals or dis crimination. . It can only be ac. compllshed on a sound basis by bear ing in mind that If we want to sell abroad, we must be equally ready to buy, since foreign trade In the mass is notning more or less than simple barter. Nor can It be too strongly im pressed upon leaders of Industry and I politics that the fewer restraints we I impose upon trade, foreign and do mestic, the quicker and stronger will be Its growth. Commerce thrives best when least shackled. Incidentally, It may be said, the best safeguard against war Is a widely distributed commerce, because nothing will do more to preserve peace than the open door and equal opportunities to all. HENRY CLEWS. COTTON EE VIEW NEW YORK, Aug. 16. The cotton market haa been extremely weak and unsettled during the past week under Increasingly acUve liquidation and general selling. Prices at tbe low point of today showed declines extend ing to nearly flva cents sar sound from the high level of the season es tablished toward the and of last June ana or approximately four cents per pound from the best prlcee on the rally which followed the August bu reau. Active covering was in evidence around the St He level during today's trading with talk of a reaction based on the extent of recent losses and the probability of a readjustment of out standing Interest before tbe publica tion of the government's crop report next week, ttenument so far shown around the ring was still of a bear ish average, reflecting Increased new crop offerings. Both these features have been much discussed during the progress of the decline, but local brokers have attributed the break largely to a belief that the market will not be able to austaln the weight of the early movement around the present level of prices. A good many firivate advices have been received rom the south claiming that farmers were rushing their cotton to market aa rapidly as It could be gathered and there have also been many reports of an easier spot basis. The weekly re port of the weather bureau read leas favorably than previously since the compilation of the last condition fig ures and there have been further drought complaints from south Texas. These factors have somewhat modified the talk of higher condition figures but private reports have suggeated better average crop progress than usual during August and an Improve ment over the July 15 indications much letting go of long cotton, es pecially toward ths week-end. Early nthe week price talk was a steadying Influence but It later was offset by the unfavorable opinion held regarding tn situation In Russia. ' . . This week the market will be chiefly concerned with the state of affairs In the spot markets of the belt and with private estimates of the condition fig- , urea to be published by the department of agriculture Friday which will carry the crop down to tne hw. as s-nu- ment stook at ths close or usi wm. It la doubtful It many traders looked for a report of under (I per cent of the normal agalnet 70.1 a month ego. LI on Auguat SS last year. 69.1 two years ago and ths ten year average of 70.9. . .. If these expectations are met It will mean that for the first Urns this season the condition of the crop is higher than the condition on oor responding date a year ago. . FINANCIAL REVIEW NEW YORK. Aug. 86. All other considerations of a feverish week in tho stock market were subordinated to the conditions created by the gov ernment's price-fixing policy. Disap pointment felt at the cut In soft 1 was mrgeiy counter-balanced DUN'S REVIEW STATTTM KHT. MASON'S ANNUITY CO., Atlanta, Ga. CONDITION DECEMBER II. 19IH AS SHOWN BI trr AT.Bisn FILED. Amount of Ledger Assets December list of prevl- ous year .IS7T.I41.5 Income From Members, 1,088.82; Miscella neous, IIT.48l.tl. Total 181,177.41 Disbursements To Mem bers, 8160.688. !; Mis cellaneous, IS5,1SS.71. Total 111,744.71 Assets. Value of Real Estate (less amount of Incum brances) :f 80,000.00 Mortgage Loans on Real Estate OOfl.Ot Value of Bonds and Stocks II1.888.IS Deposits In Trust Compan ies and Banks on interest Bills payable Interest and Rents dus and accrued All other Assets, as detail ed in statement 8t.4ll.l4 8.118.85 tlt.OO S.6I4.ST NEW YORK, Aug. 26. Actual and prospective regulations of commodity prices has remained the dominating factor in many industries and in curitles markets and in certain raw materials and manufactured producte decisive readjustment has resulted from other than official action. In contrast to the former rapid and prac tically general upturn, more recessions than advances now are appearing in wholesale quotations, ana the possl bllltles of further- downward revis lor a enter largely into calculations Where continued yielding Is fore shadowed, either because of accumu lations of supplies or for different rea sons, buyers are not disposed to op erate except at concessions by sellers Tinw. anri when there Is uncertainty as to ever, dv tne more cheerful fenllno. or. Ith. nhana-ea to ha effected, aa In steel r me suneauie ior tne antnra-1 ana iron, new Dusiness is siui wa.ii' cite product. Action remains to he talr.n An finh important commodities aa steel, iron, copper and oils, all of which, mnnriai. ly'the latter, were much unsettled. De clines in rails other than those of the coal group, and In shippings, tobaccos ana a tew otner specialties were sym pathetic. Foreign conditions as exemplified by tun nuMian situation were a drag, likewise the spread of labor troubles, but these developments later evinced more hopeful tendencies. It is believed Washington will stand sponsor for another large loan to the British government and again buttress French commercial interests In this market The urgent needs of the British government were Indicated by the sale to American bankers of $15,000,000 ninety-day treasury bills at a bhi per cent discount and the Intention of the British exchequer to make weekly of ferings here of the same character to an aggregate of $150,000,000. Steady withdrawal of this country's gold, mainly by Japan, gives emphasis to reports that measures to restrict the outflow may soon be -necessary. A cane which can be taken apart and rebuilt Into a stool has been in vented by a Frenchman. Ing. Increasing caution in entering upon forward engagements has be come a more conspicuous feature; yet the abatement of the rush to contract a head at almost any figure has made the situation more wholesome and It Is an indication of confidence In the future -that comparatively few can cellations of orders are reported. Weekly bank clearings $4,665,581,104. NEW ORLEANS REVIEW NEW ORLEANS, Aug. 16. Sharp declines took place in the cotton mar ket last week and the weakness per sisted until the close, which was prac tically at tne lowest ana x.si to s.ti Total $851,771.11 Less Assets not admitted 7,091.65 Total admitted . .Assets. $945,674.26 Liabilities. Death Claims due and un paid $866,184.64 All other liabilities as de tailed in statement 68,681.91 Total Liabilities $986,588.55 J. P. DICKEY. President R. E. EDWARDS, Secretary. Home Office, Atlanta,' Ga. General Agent for service, Jas. R. Young, Insurance Commissioner, Ra leigh. N. C. STATE OF NORTH CAROLINA: Insurance Department, Raleiga, March 16, 1817. I. JAMES R. YOUNG. Insurance! Commissioner, do hereby certify that the above is a true and correct ab stract of the statement of the Masons Annuity, a Fraternal Order, of Atlan ta. Ga.. filed with this Department showing the condition of said com pany on tne sist aay or December, 1616. Witness my hand and official seal the day and date above written. J. JK. XUUIW, JT-Jt Insurance Commissioner. ' MANY WOMEN LISTED. CHICAGO. Aug. 26. Nearly 150 women golferS were listed to start to morrow In the women's western goir championship at the Flossmoor Coun try club to contend for tbe tfJe now points down from tne closing level oi held by sirs. jr. jetts, oi unicago. the previous week. Heavy selling for .both accounts appeared oa each ses sion or tne past weesv tne mgnest prices being made on Monday, each day witnessing a steady widening of the losses. The lack of spot demand In the In terior, the apparent eagerness of farmers to realise prevailing prices for their cotton, the favorable weather conditions over the greater part of the belt arid the generally Improved tone of crop accounts were largely re sponsible for the selling. but formerly of Cincinnati, and Sioux City. The champion will not have to play the qualifying round under the rules of the association. The field will be led In the first medal round by Miss) Elisabeth Allen, of . Rock Island, champion of Iowa last year and Miss Elaine Rosenthal, north and soutb champion. It Is announced from Petrograd that all government posts, including ministerial appointments, will ba There wasopen to women. MUTT AND .JEFF -Will Be Back ' on the Job Soon" KCopyrlgBt, 1917, by H. C sisher. Trade Mark Reg. O. & Pat Off.) -BY BUD FISHER Notice! IA& T30cA)G A) we 2o)r cfce Who ICAJOWi IT i iVL WOfcVf AMD WO pUAV GTHEfcv rjO AS OfcOLb tee's Perfc DlDAfT SAW HMCeJETriy YiEA Mjte TAKE Ar i 1 A C AT OAJ , s (Aa ET7Ae i "TW. Be THAT IT MAY Ive Ate THt S yAT COM fc fVA) G KEASlfc Wit Dory ANb Aie HTTiN6 fciHr V)To' Pl-ATT-SBlfeG 7fc "fcV FfcOMTtte FfcONT.. .-. "bftrvrr teeD Ttf AtVUFfc SEALS A3 YOU fVSSS ootv ' . 0 0
Asheville Citizen (Asheville, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Aug. 27, 1917, edition 1
10
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