Newspapers / The Charlotte Observer (Charlotte, … / June 2, 1921, edition 1 / Page 9
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V x THE CHARLOTTE NEWS, CHARLOTTE, -N:- C, THURSDAY AFTERNOON, JUNE 2, 1921. U. S. Department of Agriculture, Weather Bureau. CHARLES F. MARVIN. Chief. daily weather map EXPI-ANATORV; NOTES,' observations tafcen ftt 8 . n,. 75tb meridian time. Air pressure reduced sea level. Isobtrs (continuous lltea) pass tbrottgb points 0f eq ialair pressure. Isotherms ((Jotted lioes) pass through poinu of equartemperature. Q clear: Q partly cloudy; cjoudj; (r) rain; snow; (M) report missing. Arrcws fly with the wind. Shaded areas show precipitation of 0.01 inch or more ia past 24 hours. 4? WEATHER CONDITIONS. LOCAL HOBOES FORM AN UNION Willie Edwards Reveals in Charlotte, June 2, 1921. ti- jjtt' 'hieh" has movM to the interior, of the New England states, QdUrt That Hfi ?S One of and low pressure continues over the j vvUll XUt Vlic eaat Gulf and the extreme southwest. His4l Officials. A shallow low-pressure area has also! moved eastward to the upper Mississip- "Servant of All" NO ORDER TOO LARGE OR TOO SMALL TO RECEIVE OUR CAREFUL ATTENTION. J016 -PHONES 1768 Current Business Conditions By GEORGE E..ROBERTS (From the Monthly Letter Issued by The National City Bank of New York. for June)- "Where has all the money gone?" Time after time during recent months we have been asked this leading question. People generally understand that, say this time two years ago, money was "easy"; to "dav, with presumably the game amount of wealth in the country, money is "tight." To the average man, hundreds of millions of dolMrrs seem to have literally disappeared. Bankers are seeing their deposits and their loans drop. What has become of all this money which, two years ago, seemed so easily .obtainable on every hand? Understanding of the true answer to these queries, we believe, means a more intelligent understanding of the business situa tion to-day.' It may be said this condition gen erally is the result of the' fall of prices which has taken place in the past year, the fact that the prices of all commodities have not fallen in like degree, and that bank de posits have not been replenished to make good the drafts on them to pay outstanding obliga tions. During the period . of inflation bank deposits rose steadily with the loans. When a bank customer borrowed money, taking credit for it in his- account, the bank's de posits were increased in that amount. And when the customer checked out the amount to pay for a Liberty Bond, or any other pur pose, the check went . into some other bank as a deposit, and thus it became purchasing power per manently in circulation until that borrower or some borrower -checked against a deposit account that had been actually earned and saved, and thereby extinguished a corresponding amount of credit. We followed this process of in flating our bank deposits up to about November 1, 1920. Some of our bankers were very proud over the "growth" of their deposits dur ing that time, although they signi fied very little except that a carload of hogs, or wheat, or other prod ucts, was creating twice as big a credit entry as before the war. The fundamental point to bear in mind is that money is only the medium of payments. As a con crete example take, say, an agri cultural community in the ' Middle West. The real debt-paying power of that community is in its farm products, and as. the prices of these have fallen the debt-paying power, or purchasing power, lias been diminished. The bank patron3 went on drawing upon their deposit accounts to pay their obligations A GLANCE AT THE BUSINESS SITUATION INTERNATIONAL-SITUATION Substantial basis for improve ment afforded by German reparation agreement. British coal strike still unsettled but radical developments checked. GENERAL INDUSTRIAL POSITION Continues uneven and without marked change. Industries making goods of common consumption such as clothing and shoes are having moderate revival, owing to depleted stocks. WAGES Reflect steady downward trend. Reduction of 20 per cent by Steel Corporation and downward revision of wage scale by Railroad Labor Board will promote industrial recovery. WHEAT Lowered estimate of winter crop and sustained exports have strengthened market. Carry-over reduced. LIVE STOCK Markets steady during May. Cattle and sheep in fair demand while hogs hold above parity with corn prices. COTTON AND TEXTILES Consumption of raw cotton in U. S. ' during April dropped 28 from that of April, 1920. Demand for textiles and raw wool slightly improved. IRON AND STEEL Production at lowest ebb in miny years. Industry waiting en better net revenues for railroads and revival of construction. BUILDING High cost of . operations blocks pressing need for construction. Building permits in 201 cities for April show drop of 24 from same month of 1920. AUTOMOBILES Demand has sagged since April, especially in agricultural districts. MONEY Rates easing slightly as credit strain is gradually 're lieved. Federal Reserve Banks in various districts reduce bank rates from V to 1 per cent. but their deposits were not replen- Philadelphia and Cleveland reserve ished as before. Their debts did banks began to lend to the reserve not shrink with the value of their banks of Chicago, Minneapolis, products, and the prices of goods Kansas City, Dallas, Atlanta and which they purchased did not Richmond, all of the latter serving shrink in the same proportion, districts in which agricultural in Probably there is as much money terests predominated;, This shows in the community as before, but how the banking system of the money is only small change; the' country is interlocked and mutually buying power, or debt-paying supporting, to the advantage of all power has diminished," and the com- industries and all sections, inon form of expression is that , It is not so much present specu "money is tight." What it really lation and extravagance that is con signifies is that the means of mak- tributing to tight money as past ing payments are hard to find. indulgences which had to do with The agricultural districts have creating the indebtedness now out suffered more than industrial dis- standing.. It is the debts so gaily tricts because their products have created in. boom .times that make fallen more than manufactured money tight when prices fall. The goods; moreover they (Jo not have debts do not' shrink with the loss the amount of fixed income from of debt-paying power, savings , that some of the older The trouble is largely due to the states have. Their outstanding in- unbalanced state of industry. The debtedness usually runs to other pricesof what the farmer must buy states. The Boston reserve bank have not fallen to correspond with was the first to experience liquida- the prices of what he has to sell, tion in its own territory, its clients His purchasing power is' contracted being banks that serve industrial and he cannot go on buying the communities. As the latter col- same quantity of goods at 'the old lected what was due them from prices. Consequently great um other parts of the country, and as bers of workmen are out of em thcir operations slowed down, they ployment in the industrial centers; paid off their, bank loans, and the and money grows tight with them Boston reserve bank and later the also. . ' nap Beans Fresh and -Tender. ITS VERY ECONOMICAL To Buy From the Car COULBOURN'S MARKET CARS Are Always Here ON SEABOARD TRACKS AT EAST FIFTH ST. Opposite Seaboard Freight Depot) Corn Pepper Beans Cabbage Lima Beans Canteloupes Onions Tomatoes Carrots Celery Head Lettuce Oranges ' . , Cucumbers Grape Fruit Watermelons Beets. . Spring Onions Potatoes Okra Squash Peaches Field Peas Egg Plant Our Prices Always Are tow ft Watermeloirii: Rip Sweet' and Juicy pi valley, followed by a "high" of mod-! erate strength, centered north of Mon tana. " The weatther his continued fair in. most districts, there having been Heavy rains in Iowa and on the southwest Florida coast, and light scattered show era at a few stations on the south Atlantic coast, and m southeastern Louisiana, western Tennessee,, upper Miehigan, Colorado, the Dakotas and northern Montana. The northwestern nigh" is attended by slightly coaler weather, but else where temperature changes have been Slight. They are somewhat above the seasonal average in the eotton belt, ex cept' the Atlantic coast districts where they are near normal. Continued fair - weather with little ehange in temperature may be expected in this vicinity tonight and Friday, THE WEATHER . Weather Pureau Office. Pliarlnttp .Tun 21c 25c 39c Fresh Eggs Sunrise Sunset. Iiviuutn. ip5 .. .. - - , Moon set Moon phase ew June 6th. 5:10 7:32 ..2:34 am. .3:53 p.m. TEMPERATURE. Dry UuTb. S a. m. 10 a. m. Noon . . 63 .. 75 T. 78 Wet Ealb-. 8 a. m. Noon . . Highest yesterday 85 Lowest last night 61 Mean yesterday Normal it Moan same date last year Deficiency for month 1 Excess for year.. .. .. Highest of record for June, 102 in 1814. - - " T 4 - : 100A Lowest or recoru wr junc, -a m iocs. PRECIPITATION. TYtnl for 24 hours ending 8 a. m. Total, for month to 8 a. m .Normal ior juuc, Deficiency for year HUMIDITY. 8 a. m. Noon . G. S. LING REN, Meteorologist. GROCERIES The beaming light of- publicity gleamed forth upon the innermost se crets of the Hoboes'. Union, or the Mys tic Order, of the Sons Of Rest, when a high official of the union appeared in the recorder's court Thursday to answer a charge of store-breaking. The cause of mysterious meetings, solemn oaths taken under strange circumstances, and ghostly rrjbvements about a deserted cabin alongside the railway tracks in the southern, part of the city was revealed through the ques tioning of Solicitor Tom Guthrie when Willie Edwards was tried for entering a. Kr.nre. The Hoboes' Union, it was revealed, is composed of a gang of youth who have taken a solemn oath not to work. Should any member violate the saerel oath and take himself tinto a- job no matter how light the work might be: out he must go irom tne union-aia-graced by his comrades. WOULD BE DISGRACED. Should any member violate his sol emn oath and reveal any of the secret 3 of the orderout he must go with disgrace hanging over his head aa strongly. as if he had got a job. For that reason. Solicitor Guthri3 could not get much information- out of Edwards. He is alleged to nave been sworn to keep within his boso.n the secrets and mvsteries of the union. 62 j But Edwards admitted the presence 64 j of such a union though he claimed he didn t have anything more to uo with it than to attend a few meetings and to enjoy the friendship of some ff the members. The solicitor was fin able to make it clear, through que3 tions, whether Edwards was the pres ident or secretary, or what, though he broueht out the intimation that ho had something important to do with i. j Willie was up before the recorder two weeks ago. He denied the allega tion of Solicitor Guthrie that members of the union had threatened to place him where he would never tell again should he "let the court in" on tne se crets of the hoboes' union, or the ac tivities of its members. REST IS ASSURED. "Rest for the weary" isassured with in the protection of the hoboes' union; frequent trips to distant points is i n ooiigation or tne oraer. ooiicnor uum- rie had heard tne members some time ago took a trip to Washington. Ed wards himself has taken only one trip by the rod-route, he told the court, though he did not place much empha sis on the statement. When pressed by the solicitor, '.. 7 bars good laundry soap . . . , Sugar cured picnic ham ... Kingan's reliable hams . . 4 and 8 Th. nails best comDOUnd lard . . . 55c $1.0 10 lb. pails pure lard ...... .. Ji.7 100 lb- sack Eadan chicken feed, the best . . $2.75 New Irish potatoes, peck . . . . 60c Va. fish roe 15c 30c Medium red and pipk salmon 15c 25c 1-ib, jars strawberry preserves .. 35c Fancy stuffed and plain olives 18c 25c DeeD sea fat lobster , . 25c Veribest California heavy syrup peaches . . . , . . . . " " . . . 85c Place your orders early. Prompt de livery. Fresh stock Melrose, Eliza beth and Sunflower. selfrisinsr flours. PRICES ALWAYS RIGHT WITH QUALITY. . John Allen Taylor Cash Groeerv, Corner Church and Fourth Sts. Phones 2016 and 1763. 43e 36c $6.25 $4.75 $1.05 $4.5)5 $3.90 38c 50c " 29e Dozen. Best grade fresh slice bacon Swift's Premium hams . 60 lbs. lard . . -, . Na 50 tins . . . . No. 10 pails t 98 lbs. best flour 30 lb. pails jelly . . . 50c jams . We sell quality groceries for less, than anv nnn store and deliver them. Big bargains in toilet paperslet U3 save you money. Economy Grocery r"io . 9 r ite $ 37 W. Fourth. Phone 4880 Sp ecials 0 00 4.46 2.74 70 46 13 lbs. best sugar $1.00 Del Monte syrup peachea . . ..... 25c Dozen lots .. $2.75 Del Monte pineapple .". S5c Dozen lots . . . . $3.75 50e size jams, jellies and preserves 35c 3 for -. . $1.00 Fresh white pearl grits, lb 5c Head rice, 15 lbs ., $1.00 Nice pure coffee, 6 lbs $1.00 Higher grade coffees, lb. , . . 20c- 10c Our store will p closed tomorrow after one o'clock very Thursday curing the summer months. Craig Fite The Cut-Price Cash Grocer. Red Front 39 S. College St. 1875 PHONES 1876 We Deliver All Over the City. PICNIC TIME We have the goods for it. Pimentoes, praft cheese, pickles, olives, pimento cheese, boiled ham, pot ted ham, mayonnaise and salad dress ings of all . kinds, relish, cakes and crackers a full assortment, . Easy-Make-Pudding, Jello, all flavors. Swana Down cake flour, fresh blackberries and all kinds of fruits, full line fresh, vegetables, your chickens, eggs and but- , ter. Phone us your oraer. Watts Grocery Co. 813 East Seventh St. Phono 4431. KKIT.OGG BRAN BISCUITS. Physicians of the Battle Creek San atorium in their efforts to meet the dietetic neeas oi meir panem-a, navi when pressed by tne solicitor, vvi. gradually developed a diet system in J jie- named a half-dozen boys whom he whioh "hran biscuit" is the chief fac- ndprstnnfl are members of the hoboes' tor. .And this is giving the 'institu- unjon. Solicitor Guthrie indicated that Hrtn a wofiri-wirle refutation. I Via knpw snmft of them because he MILLER-VAN NESS CO. j named "over several, Edwards pointing Wp. Close Thursdays at l u ciock. out those he knew to oe memoers. FRESH RED RASPBERRIES TUES- However, he was reluctant in giving -l t - -WW-n Tron n t i x va- v lilt-" i iii 1 1 im. SXt Te5?veT'JaXhcr .Mpr'S " Edwaraf st had connect Royster's ceieDraiea canuies, an vd- -tZli oTtr. riefles, always Iresn. -'resn ; ? P 11' veeetables too numerous to mention. u s . " --. , , .- mo tprtivps ftinser ana vveei. ne ciaimiu. just pnone xui t C" T " ,-o-ti,0 ctoro to t. some O. iv. a. I , r ill. " M-iZLjt p 315 N Tryon St. Phones 101 & 102 Kerosene ior a. menu m W M. Sigmon, Manager. i-yv "-" ,JUL- vv . u'b'""' o i I : Ji ,i I,; v rionpa wasn't strong1 btiuAK 82Si '.. I enough to justify his entrance into the Why pay more for coffee elsewhere . He was bound over to ..bU ?50 buys & brand new Corona portable tvns- vrriter. Other makes at attractive prices. Se us before you buy. PHONSr 4542 POUND & MOORE CO. Fresh Shipment Hiddenite waterground meal and Ova, ham flour. Country cured hams, lb. .. .. oac 40c Sliced country cured ham, lb 50c Countrv cured shoulders, lb. .. .". 2c 'Two pttops spring chickens, lb. .. 55c Fresh country eggs .. 3 dozen for 91.1.11 Snowdrift lard 60c $l.o Nancy Hall sweet potatoes, peck 60r Large can blackberries, can. . . . . 20c Dozen : . $2-"0 1-lb. can red Alaska salmon .. .. 35c 3. for M 100 lbs. sugar $7.50 GULP BROS; Phones 18061807. 225 East Trade. TtrVion we ran save vou 5 to 10 cents li a nnund of coffee. Roasted and A roiinrl fresh everv day Mnoha-" and Java 4oC Trinity blend 40c Kenny's high-grade ac Ho-ntoc! Mfnfl dUC Rios 18c and sic Good Rice. 4 lbs. for AOt Fancy head rice, 3 lbs. for.. sac Chocolate, cocoa, grits, extracts, oaK- ing, powder, etc. f 18. KEXNT CO. T. f!nrtes- Siiffars. Grits. Rice. Etc. 23 S. Trvon St. Phone 1551-1552 court." He had not given a ?200 bond this afternoon. $10.00 SALE. ugar $1.00 $1.00 $1.00 12 lbs. for ....... .. .. .. 21 cans pork and beans . . .. 11 tall cans salmon .. .. .. 7 large cans kraut $1.00 4 cans 50c apricots . . .... 3 cans 50c pineapple 3 cans 50c syrup peaches .. 8 cansi 20c tomatoes . . . . 4V lbs. Arbuckle coffee .. .. 9 cans assorted soups . . . . PROBLEM OF FINANCE HANDICAPS INDUSTRY ChiVflsn. June 2 How to obtain ot billion dollars annually to finance elc trio nmvpr facilities demanded by th'J public was declared to be the greatest I problem confronting electric power companies m a report to tne .auunai Electric Light Association todpy The problem of finance was asserted to be handicapping tne electric ngni inuu try and, unless large investments are made, the report said, the production of cheap, efficient power would be greatly, retarded. The committee on eiectricai re sources told the association that de tn of watpr nower under the new Federal Power Commission would cost $3,700,000,000 in plants and equip ment in the next four years. Sixty millions of horsepower wouia power supply 1 ejvinaior Refn$eratesJ)Wihout Ice, See It in Operation at 301 North Tryon St. E. GUGGENHEIM, Distributer SI .00 $1.00 De added to America's $1.00 $1.00 $1.00 $1.00 $10.00 sale .. .. .. .. .. $10.00 Fite & Harris PHONE 2883. Chicken Feed Purina chow, per 100 lbs. . . ..$4.00 Purina baby chick feed, per 100 lbs - $3.35 Purina scratch feed, per 100 lbs. $3.15 Sunshine scratch feed, per 100 lbs. $2.30 Big S dairy feed, per 100 lbs. .. $2.35 Big S mule feed, per 100 lbs. ..$2.15 Superior . growing mash, per 100 lbs. . i - $3.25 Oyster shell, . charcoal, canary feed and grit in stock. Will have full supply potato plants Monday, per 1000 . . . . .... $2.25 Full stock of highest grade garden and lawn fertilizer. AMERICAN SEED CO. Sll East Trade St. Phone 3861. nrVian tii nation's watemower is ha1" nessed, Henry D. Shute, of New York, toifl thp convention. He said tne low- est point of depression in the electric industry had been passed and that fu ture nrtnplpration would deoend on large-scale purchases by the railroads and upon home building. WhyPayMore 1 dozen good laundry soap .. .. 39c 3 dozen fresh country eggs .. .. $1.00 9 coops fat chickens. New red Irish potatoes, peck . . 65c Our best chicken feed, peck .. . . 45c 100 lb. bag our best chicken feed $2.65 Waterground corn meal, peck 45c Pint W'esson, oil - 28c Quart Wesson oil 55c No. 5 Snowdrift lara owe No. 10 Snowdrift lard $1.20 24 lbs. Elizabeth Aur ...... $1.30 48 lbs. Elizabeth flour .... $2.60 24 lbs. self-rising flour . . . . $1.35 4 8 rhs .!f-risine flcvir . . ... . . $2.65 -Full line of fresh vegetables. Phone us your wants. We deliver Open the Basket- AUTO OWNERS AND DEALERS YOU wear good clothes. WHY not dress Up your car? . The suits we make for motor cars are of the very best materials. The work is done by skilled workmen. MR. J. A. WADSWORTH now has charge of our upholstering. He is one of the best in the state in auto ton recovering, side-curtain making and seat covering work. Such work can be done well better pr best. We do it BEST. Carolina Auto Paint and Trim Company W. P. SchoD, Manager . Dowd Building . Corner Fourth & Poplar Sts. Telephone 4084.' - - EfohaCASH gROCEfty Corner 11th and Graham Streets. Phone 4090. , J. R. Faulkner Co. CASH GROCERY Our store closed tomorrow after one .1. n,.4n !i a cummer months we will close every Thursday at one o'clock. . 4 WE OFFER TODAY 8 lb. pail compound lard .. .. 1 tti nail romnound lard .. . TrioH notH.toes. neck . . . Fresh cabbage, tomatoes, bananas and nice lemons. Unc feA . Tuxedo chop mule feed . Dairy feed Chicken feed Red Front. $1.00 . 50e . 60c . . . $1.75 . . . S2.75 . .. $2.75 . $2.75 45 North College Phone 695. J. R. Faulkner Co. Get out a Sandwich! Two hours yet to lunch time, but you know how it is on a picnic when that great big out-door hunger swoops over you I Any kind 'of sandwich makes the right response, but real de luxe holi day effects may be obtained with spepial fillingschopped nuts-and-dates; tomato and mayonnaise; egg-and-lettuce; cold sliced ham or chicken with chopped hard-boiled eggs. . x - Cream Cheese and Walnut Sandwiches Moisten one cream cheesS with a table spoonful of milk. Work in one-eighth teaspoon of salt and one-fourth cup of chopped walnut meats. Cut Bread in rather thin slices and. spread with fill ing. If a dainty size is desired, cut each sandwich in four small triangular shaped pieces. . Jelly Sandwiches For the sweet sandwich which serves nicely for n dessert use marmalade, jam, jeUy or any con serve not too liquid. BUTTER-NUT BREAD is the sweet nutritious loaf that, makes these or any other saXichel ideal. And it makes plain meals a picnic, too. Ask your grocer. Carolina Baking Company s 1- i 9 "! We Deliver All Over the City. ..8-1159 ) .v . ... - y
The Charlotte Observer (Charlotte, N.C.)
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June 2, 1921, edition 1
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