Miami Record-Herald (Miami, Okla.), Vol. 28, No. 7, Ed. 1 Friday, April 15, 1921 Page: 4 of 6
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PAGE FOUR
MIAMI RECORD-HERALD
unemployment
By FRANCIS H SISSON
Vice-President Guaranty Trust
Company of New York
"ANY business men seem
to have been taken un-
awares by the sudden
chance In business con-
ditions In the Inst twelve rnnnths
Their failure to foresee this chance
and to prepare for It was probably
due In a large degree to the fact
that they were not keeping well
enough Informed about the eco-
nomic situation In general
Our business men who properly
studied the economic forces shap-
ing business conditions during the
war and in the subsequent boom
period realized that commodity
prices were soaring too fur beyond
the per capita purchasing power of
the masses to remain long at such
levels f
And today they are carefully ob-
serving economic trends to dis-
count the future Merchants and
manufacturers are aware that this
is a time to buy in smaller quanti-
ties and more frequently than usu-
al thereby avoiding the evil of
The PUBLIC MUST iEAiRN THAT THE "BUYERS-'
STRIKE" CANNOT ARBITRARILY REDUCE PRICES
ovcrstocKiig during this transition
period They see cleurly that It is
a wise policy not to hold goods for
higher prices than existing costs of
production warrant although In
some Instances such goods may
have been purchased at higher
prices than present replacement
costs They apprehend the neces-
sity for reducing overhead ex-
penses as -far as Is compatible with
sourd business methods They ap-
preciate the ultimate advantage of
sharing reduced costs with consum-
ers They are alert to the danger
of extending credit beyond safe
A VIEW IN ONE OF NEW YORK'S RETAIL SHOPPING
CENTERS- THE READJUSTMENT OF RETAIL PRICES
IS CNEOF THE MOST IMPORTANT FACTORS IN
“IRE RETURN TO NORMAL BUSINESS CONDITIONS
limits and of tempting their ns-
torners with too easy crcdiL
Such business men recognize the
sanctity of a contract' and deplore
the world-wide repudiation of obli-
gations that lots developed in the
post-war dellutlon period in fact
the sudden depreciation la business
morals should concern us more
than the precipitute depreciation In
commodity vulues Muny tinnhclul
bankruptcies are preceded by and
result from morel bankruptcies
And It Is Just ns essential for busi-
ness men to have a moral rating as
a Hnuuclnf rating j
The widespread and Increasing
number of cancellations of orders
repudiations of fcontraets and pro!
testing nt Irrevocable credits con-
stitute one of the most serious
business problems of the day The
majority of American business
men however are living up to the
not doing go 'are jeopardizing the
Interests of the majority
The Importance of the retailer
has never been more accentuated
than now The public has come to
look: upon the retnller’s readjust-
ments ns the lust in the cycle that
must he completed before economic
conditions are on a comparatively
sound Imsls preparatory to a gen-
eral revival of business That pop-
ular conception was strikingly Illus-
trated by the recent so-called buy-
ers' strike
I believe that the majority of our
retailers understand this public
psychology and fully appreciate
their responsibility I am confi-
dent that most of our retailers ap-
prehend that the 'sooner their
prices are made commensurate
with the existing purchasing pow-
er of their customers the better It
will be for themselves -
On the other hand the public
must comprehend that reduction of
price cannot be made arbitrarily
without das consideration tot all
Ihe factors that enter Into the proc-
ess Perhaps the chief of these is
labor cost which affects all others
hen prices soared to prohibitive
heights raw materials were the
first to feel the reaction But so
long as labor costs remain high the
manufacturers cannot pass along
large part of tiie reduction in the
cost of materials because his big-
gest item of cost is labor
Tbe solution to tbe problem Is
lower production costs We qre in
a period of smaller margin of prof-
its than that which we have expe-
rienced for the last few years
Greater efficiency is urgently de-
manded f
The solution of this problem
must be found before we can ac-
complish thft most important of all
necessary readjustments — namely
a stable basis of exchange between
farm and industrial products
wjiich In tbe final analysis is an
exchange between form and Indus-
trial labor Agriculture Is still anr
largest industry When it is pros-
perous the country is prosperous
Friday April IS 1921
tat whM it 6 ait fZSt&ftlleit'- ’
soon try cainot be prosperous j
And there is another problem
which vitally concerns all of ns—
namely unemployment - Like the ’
repudiation of contracts this also
is a world-wide condition and must
likewise be remedied as soon a
possible While we hay been fa I
mqre fortunate than any other na
tlnn it is a serious matter to havs
thiee million people out of wort
even In this rich country ' -
Consequently the task of “ade-
quately financing oar overseas com-
merce which Is tbe ernx of tho
problem Is a matter of vital Inter-
eqtte- every business man farmer-
and laborer in the country It I
essential for all these elements of
our body politic to do all In - their-' -power
to make successful such
movements as that represented by
the Foreign Trade Financing Cor- '
poratlon whfth is being organized - -with
a capital stock of one hun-
dred billion dollars on which un-
der the Edge Act it can extend t
billion dollars in long-term credits
to foreign buyers of American
products and Issue its own deben-
tures against the collateral fol
these loans for sale to the Ameri-
can public
Our productive -capacity- hat -steadily
been increasing since tbs
beginning of tbe World War It -now
exceeds tbe capacity of dome-
mestlc consumption- And It fol-
lows therefore that merely dome--
tic readjustment cannot solve tha
problem of satisfactorily disposing
of our surplus goods Further-
more ail nations are so economical-
ly Interdependent that employment
in any one country depends fo a
large extent upon world-wlds co-
operation and facilities for the ex-
change of goods ' r - -
Because of world condltlonirtnd
their Influence upon ns business re-
covery here will naturally bq grad-
ual but oil the' better for that If
a matter of national congratu-
lation however that there arw
abundant Indications that the tide
in our bnslnes affaln has unmlstakr
ably turned Confidence la being
restored and very Important de-
spite tha precipitate fail In the '
price of farm products tbe latest'
reports from agricultural districts
disclose the fact that the plight of
our farmers generally is not as
bad as we have been led to believe
at first Oops are being marketed
gradually and that means that -newly
created wealth is being made -available
to tha nation Mora in-
dustrial plants are reopening
Transportation facilities have been
considerably Improved since tbs
railroads were returned to private '
control through greater efficiency
In their use Bank reserve hare
been materially strengthened and '
banking conditions '" In common
with fundamental business coedi-
tion are sound and have been con
siderably bettered recently i
the steadier and more acdefiaralbd
movement of agricultural products
to markot and through u M
rapid liquidation of paper held ty( '
lha banks — — :
gie light 'White Way posts each
equipped with 600 candlepo'wer
lamp
Excluding oil there has been a gain
High taxes and constant agitation of almost 2000 per cent in Okla-
for more pay and shorter hoursar homa mineral values in the last ulne-
having their eftoct on industrial ac-
tivity The process must be reversed
-It we wish a return of stabilized con-
ditions Reasonable -taxes fair pay
and full efficiency should be our
motto
Duncan starts huge city building
plan to cost $1000000
Durant cotton clearing plant burns
loss $60000 i
Okmulgee gets new tank manufact-
uring plant representing Investment
of $70000
Fairfax votes $50000 bond isuse
for new high school gymnasium
Oklahoma iCity — Standard Gas &
Electric Co buys holdings of Shaffer
Oil A Refining Co for $18000000
fia'pulpa— New oil pool opened
within 9 miles of city 3000 barrel
well brought In
Highway construction in state
drops one-third -in year
Bristow starts construction n 7-
story hotel costing $225000
Bristow — Oklahoma Gas & 'Elec-
tric to spend $30000 oa Improve-
ments Bell Telephone Co makes
$30001) Improvements
State gains 24100 school children
in 1920
iWynona Completes $40000 school
building
Duncan — Construction starts at
once on new freight deport here
Quapaw — Sherman Iron Works Co
to establish auto assembling plant in
addition ito foundry and machinery
departments
Pawhuska builds bugs water sup-
ply system
iMIaml’sllre fighting equipment
ranks among first of state
Holdenvllle takes steps to get con-
vention hall
Plcher restaurant first to serve 25-
cent dinner
Oklahoma City — Ford plant not to
be moved to Kansas City but will re-
open employing 275 men
- IPawhuBka reports heavy paving
and road projects in Bight
Henryetta to celebrate coal indus-
try Oklahoma City's First Street White
Way lighting contract covers 46 sin-
teen years' — and aside from the coal
and -petroleum industries no more
than a beginning lias been made in
the development of -the state's mineral
resources "
Electric cars replace mules in
Henryetta cJal mines
Wyandoaae district to grow 200
acres strawberries
Okmulgee county to get new pipe
line
North extension of Duncan - dis-
trict is proved in new well
Holdenvllle expects relief from
house shortage with organization of
building and loan association
Much wheat in Kay county being
moved
Hominy starts paving campaign
Marlow cuts cotton acreage -50 iler
cent diversified farming urged
Kellyvllle builds 50 new houses
Oklahoma again climbing as coal
producing state
Al-tus to build '$80000 church
Mangum Chamber of Commerce
urges farmers to cut cotton acreage
encourages diversified farming
Kingfisher county poultry raising
more profitable than raising cattle
horses or hogs ’
Marlow experiences building boom
and many Improvements
Norman — 'Religions education add-
ed at university here '
Kindness to Animals- Week and
Humane Sunday to be observed April
11-77 'with eervlces In sobools and
churches
A healthy horse able to work must
be properly 'fed A public utility is
the community horse end it must re-
ceive proper rateq or it will be unable
to properly serve its master the
public -
LOFTY TO OKMULGEE
TO ATTEND CONFERENCE
Supt John Lofty of the public
schools here will go to Okmulgee the
latter part of tbe week to attend a
Conference of superintendents and
other educators from various parts
of the state A part of the confer-
ence will be devoted to the dedica-
tion of a vocational building
K C Livestock
Market Letter
Kansas City Stock Yards Monday
— Cattle and hogs lower lambs
stronger Liberal receipts ot both
cattle and hogs caused a further de-
cline in priceB Cattle were down 15
to 25 cents and -practically back to
the low point In early February
Hogs were down 25 to 40 cents with
the -market under the 9-cent level
for the first time in two months past
The top on hogs today was $885
and bulk $785 to $875Sheep were
steady and lambs strong v y
Receipttoda were 15000 cattle
13500 hogi and 7600 sheep 'Com-
pared with 12000 cattle 10600
hogs land 6000 sheep a week ago
and 1025 cattle 1060 hogs and 3-
100 sheep a year ago In this week
last year a strike among switchmen
tied up traffic
With' liberal receipts here and a
heavy run in Chicago cattle prices
were unevenly lower Here prices
were 'oft 15 to 25 cents mostly 25
cents-’ Handy weight steers and
choice yearlings declined the least
and rough heavy steers the most
Choice steers sold at $850 to $875
yearlings up to $875 and heavy
steers tap to $860 -Heifers were 15
cents -lower and cows down 15 to 25
cents Veal calves sold slowly at
weak prices
Though there was a fairly good
demand for Stockers land feeders
especially the better grades prices
were weak to 26 cents lower largely
because of the decline In fat steers
The approaching grazing season is
Increasing demand Few cattle are
going on feed ' ‘
Hog prices today crumpled under
the 9 cent level for tho frist time
since early February The decline
was 25 to 40 cents making a net lose
ot $125 In the past seven days
Chicago with receipts of 50000 was
25 to 50 cents lower and demand
for -light weight butcher hogs on all
eastern markets Is decreasing Indi-
cations are that light and heavy hogs
will sell at a narrower price spread
In the next few weeks Today's top
price WSB $885 and bulk $8 to
$876 Pigs sold at $9 to $976
Trade In the shoop division was
fairly active with --1 lambs i quoted!
stronger and sheep steady Lambs
sold mostly at $826 to $925 and
ewes $550 to $6 Yearlings and
wethers were scarce
With receipts ot horses and mules
about the- same as on preceding
Mondays prices were unchanged
There was a fairly gooddemand for
the better grades land common kinds
were slow sale -
Crops Are Far Ahead
of Usual Stage Now
' General weather ' and crop conditions:-
The past week has been most-
ly moderate during the day with
balder temperatures at night rain-
fall was general over- the state the
precipitation 'being' particularly
heavy In the west where considerable
damage resulted from floods Crops
are far in advance of the usual stage
ot growth and rapid progress Is be-
ing made in farm operations Plow-
ing planting were retarded by the
rain early in the week -but resump-
tion Is now noted 6upply of labor
surpasses demand
Wheat is again making good pro-
gress end is growing with renewed
vigor Jointing has begun In the
northern counties ' The first week of
April was well above normal — 44
degrees at Oklahoma City — thereby
acoring another point iq favor of the
parasites charged with the control ot
the greenbug Every district In the
State reported a higher condition for
wheat on April 1st than at this time
last yoar
The oats recently sown have come
In a good stand and are generally
growing well Barley and rye con-
tinue favorably with condition well
above average
Corn planting has extended Into
the northern counties
Land Is -being prepared for cotton
and planting will begin shortly Some
picking Is still being done but most
of the remaining lint Is being plowed
under The Oklahoma Cotton Grow-
ers’ Association now comprises more
than '28000 farmers who represent
some 350000 dales its organization
Is now assured
Broom corn planting is beginning
In the 'Lindsay district The demand
for soed Is active but little idea of
acreage can yet be formed
Somo peaches and cherries sur-
vived the recent freeze apples pears
and berries were serverly injured but
there promises to be from a fourth
to one-half crop
Livestock is la good condition
pastures very good
Belfast Parliament
Facing Obstacles
Belfast (By Mall)— Ulster Union-
ist plan to use the Carsonite machin-
ery of the Orange Lodgers tn Insure
the of1 thi Northern Parlia
ment' Sinn Fein will counter 'with
naming candidates In the six coun-
ties “pledged to'a policy of abstention
similar to that existing towards the
British Imperial Parliament" These
two facts are accepted here but opin-
ions vary as to their respective chanc-
es of success
Belfast business men are divided
as to whether the Unionists under
the leadership of Sir James Craig can
elect enough members to Bet up
smoothly running legislature The
Partition bill Is becoming less popu
lar every day In the North as the
Southern boycott is beiug increasing-
ly felt
Secret emissaries of the govern-
ment have lately made several efforts
to secure the support of the leaders
of the old Nationalists party In an en-
deavor to have them put forward can
didates to form a more1 tractable op-
position to the Carsonitos It Is re-
ported that a coalition Unionlsts-Na-tionallbts
cabinet was the bait used
These efforts seemed to have failed
The actual position of the rem-
nants of the Old Irish Parifamentary
party is a matter of uncertainty but
It 1b believed that -they will throw
"In their lot with the Sinn Fein
Prospects for Ulster working tae
Home Jlule Bill are not as bright how
as they were three months ago but
it Is evident that the Unionists lead-
ers think that- only by so doing can
they avert a central Dublin parlia-
ment which they are determine) to
do at all cost
Farmers Should '
Take Advantage
of Parcel Post
An effort Is being made to educate
the farmers of Ottawa county to the
use of parcel post in the handling of
farm products between Miami and llie
farma Postmaster J M Dixon has
issued information on the subject of
farm products which can be handled
by the mall carrier
The local parcel post rate is 5 cents
for the first pound and one-half cent
for each additional pound or a frac-
tion thereof The local rate Is appli-
cable to parcels mailed within the of-
fice delivery limits for delivery with-
in the office delivery limits
As the rural Carriers use cars par-
cels mailed on rural routes reach the
office In time for delivery by the city
parcel post carrier on the afternoon
trip Parcels mailed to the grocer or
merchant containing butter fresh
meats dressed fowls Vegetables
fruits and articles of similar nature
will be accepted
MAYOR RECEIVES LETTER
OF THANKS FROM CUBA
Mayor W S- O’Bannon has re-
ceived a letter of thanks from -Ray
M de CastrO Jr of Havana Cuba
who visited here recently to view the
light and water plant here The
Cuban was much ' Impressed with
Miam) and writes Of Miami In his
lettef aa ''beautiful and hospitable”
The Lawton Railway and Lighting
Company plans extension of its lines
from Fort Bill to Medicine Park'- a
dlstauce of nine miles at an estlmnt-
ed cost of $300000 '
V
ALICE IN DOT LAND
By Clifford Leon 8horman
T5S luror wore all writing very bually on slate' "What an (he
lolnsT" Alice whimpered to the Gryphon "They can't havs onvlhln n'SIe
lown yet before the trial s begun-' "They-ro rutt“ downthe"? nime“ fha
Oryphon whispered In reply "for fear thoy ahould forgot them before the end
of the trial "Stupid things!" began Alice In a low indignant volee but oho
ifn nil th w"11 Rabbit oried out "Sllenco In tho 00 lift I" and
th oourtr and
mi
(Copyright 1919 hr Tbs Bofi Syndicate Ino)
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Martin, Eugene P. Miami Record-Herald (Miami, Okla.), Vol. 28, No. 7, Ed. 1 Friday, April 15, 1921, newspaper, April 15, 1921; Miami, Oklahoma. (https://gateway.okhistory.org/ark:/67531/metadc1749360/m1/4/: accessed May 31, 2024), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.