davidaulloa/AmericanStories huggingface dataset:
The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1916-03-10

satisfactory share of this money may
be regarded as permanent improve
ment. This means that the bond is
sue should not be spread so thin over
an exorbitant mileage that the i'm
provement will be largely superficial
and practically disappear in very
short time.
It means, also, that large percent
age of the bond issue should go into
building satisfactory and permanent
foundation for the road which will cali
thereafter principally for resurfacing
repairs. rather than for frequent COM
plete reconstruction. ;4ae-.e
Cd Provision for proper main
tenance and repair of a bond-built road
throughout the life of the bonds, so
that when bonds are retired the coun-
ty will still have an actual and valu-
able property to show for it's expendi-
ture.
(e) Limiting the term Of bonds so
that the life of the bond will not ex-
coed the life of the Improvement.
The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1916-03-10
Colds Quickly Relieved.

Many people cough and cough from
the beginning of Fall right through to
Spring. Others get cold after cold. Take
DR.. Kings New Discovery and you will
get almost immediate relief. 1t checks
your cold, stops the racking, rasping, It's
tearing cough, heals the infamma-
tion, soothes the raw tubes. Easy to take,
antiseptic and healing. Get SOC bot
tie of DR.. Kings New Discovery today.
1t. is certainly great medicine and |
keep bottle of it continually on hand'
writes w. C.. Jesseman, Franconia, N.
II. Money back if not satisfied.
The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1916-03-10
A Norfolk Coast Garden.

Unique among English parishes is
Wingland, on tile Norfolk coast. Rich,
nth soil producing almost unbeliev-
able amounts to the acre, it has no
school, postofice, public house Or tax
collector. Wingland has a church
gard, and in it lies one grave, that of
a boy thrown up by the Wash. Along
the north coast of the county, where
the cliffs are chalk, sand, clay and
loan, the incessant sea is making in
roads. Once happy and fruitful vii
lagos now lie seven fathoms deep be-
low the waters. The land is practical
ly all reclaimed and is only few feet
above the sea, but is one great garden
An acre has produced more than $1,000
worth Of flowers, fruit and vegetables
in a year. Here bulbs of hyacinth and
narcissus as good rs if not better than
those that come from Holland can be
bought; Here they grow millions Of
flowers that grace the tables of Lam
cashire and Yorkshire.
The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1916-03-10

of interest on the sinking fund to dis
charge the debt at maturity. The ex,
istence of the sinking fund is a con-
slant temptation to municipal officers
to use it for purposes other than the
purpose originally intended. If a
county, for example, issues bonds for
a second object, it is easy to argue
lated may be used to purchase the new,
securities and the finances of the COM
munity are likely to become much con-
fused. This is particularly true since
the officers in charge of such opera
tions are frequently changing. Sink
ing fund tax levies may be deferred
through carelessness or under pressure
of other needs. The sinking fund al
ways requires careful attention, be-
cause it does not progress autOmat-
ically in most cases. 1t has some
times been entirely neglected. The
total cost to the community of bond
issue retired by sinking fund will
be considerably greater in the end
than the cost of the same bond issue
made by either the annuity method or
by the serial method
By the annuity method of issuing
bonds both the principal and interest
are discharged by constant annual or
semiannual payments. The amount
of each payment or installment is de-
termined by the term of the bond. 1t
usually is necessary to subdivide the
bond issue into individual bonds of
500, $500, or $1,000 each. The result
ing periodic payment of principal and
interest must vary slightly because of
this adjustment. Under the annuity
plan the amount of principal retired
The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1916-03-10
In a Queer Town.

Margaret Ellington was making a
coast to coast tour as the star in a new
play. She had reached the land Of the
one night stands, and to break a long
jump she was to play in new COM
munity that expects to have 10000 in
habitantS some day.
AS the actress, in the early morning.
dismounted from the through train,
with her maid and her manager and
the supporting company, an aged dar-
Ky laid hold of her hand baggage and
led the way. bowling and scraplng. to
where the hotel bus waited. Follow
ing him.. Miss Ellington emerged from
the station, she'd on an expanse OF one
story stores, fanking each side OF q
dusty road.
.sUncle." she asked. lis this the prin-
cipal street,"
"Dis yere one? No'm,' he said. dis
yere town amt got no principal street :
Saturday Evening Post.
The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1916-03-10
Belgian Kongo.

Belgian Kongo, founded thirty years
ago. is still in the early stage of devel-
opment. So far practically no manu-
featuring industries have yet been es-
tablished, and, aside from the impor-
tant copper mines in the Katanga dis
trict. the only large industrial enter
prises are the railways and river trans
portation services. 1t may be said that
all business activities in the colony are
devoted to the collection OF tropical
products - rubber. ivory, gum copal.
palm oil and kernels, cacao, etc.-and
the railway and river services are in
reality only accessories to these activi-
ties, having been established primarily
to aid in the transportation OF these
products to the seaports The gather
ing of rubber in KOngo has never re-
covered it's former activity, and in all
probability will never again be so rich
a source of income to the colony as it
was previous to 1912.
The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1916-03-10
Destroying Roads, Bennington


is small at first and constantly in.
creases while the interest charge de-
creases. The sum Of interest and prin-
c1pal remain constant, "a and this is an
advantage as the tax is then uniform.
Serial Bonds.
The serial bond differs somewhat
from the annuity bond, because, in
stead of keeping the annual payment
of both principal and interest constant.
the amount of principal that is re-
tired each year alone remains fixed.
This type of bond has become more
common for highway purposes in re-
cent years, and during 1912 and 1913
the number of serial issues exceeded
the number of issues for any other
single given term. The office of pub
lie roads received reports from these
two years for $15,300,S19 in the serial
highway bonds, which is over 20 per
cent of the total county and district
bonds for which the period or term
OF issue was reported. The first re-
tirement of serial bonds is sometimes
deferred for a number of years.
The continued success of highway
oonds as means of road Improvement
will depend largely on whether or not
The county authorities follow these
principles of sound road financing:
(a) A steady and well administered
system Of meeting interest and provid-
ing for the retirement CT bonds on
maturity, whether by means of sink
ng fund.- by the annuity method, or
through serial payments.
(b) The limiting of expenditures for
load improvements to sums which are
warranted by the actual saving in
cost of hauling that the road improve
nent will effect. IN this item may
also be considered increased tonnage
which follows road Improvement.
(c) Expending bond moneys only
IN roads of such character that a
The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1916-03-10


The proper method of retiring rural
highway bonds is one of the serious
problems which must be worked out
by county commissioners and others
intrusted with the expenditure of road
funds. The three methods usually
followed for meeting bonds at maturity
are known as the sinking fund, annu-
ity, and serial bond plans.
Sinking Fund Bonds.
The majority of highway bonds now
outstanding have been issued as
straight terminable bonds to be retired
by sinking funds The term of these
bonds varies from 10 to 40 years,
with an average of nearly Is years.
The fund to retire them is accumu-
lated by annual installments paid by
the taxpayers, and is supposed to draw
interest continuously and to accumu-
late a sufficient amount to discharge
the debt at maturity. The interest
which the sinking fund draws is usu-
ally from one to two per cent less
than the interest paid for the loan.
Five per cent highway bonds are CON-
mon with the sinking fund calculated
to draw three and one-half per cent in
terest.
The following table shows the an
nual payments which, with interest at
three, three and one-half and four per
cent, compounded semi-annually, will
amount to $1,000 at the end of term
of years.
The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1916-03-10
HAULING OVER PUBLIC ROADS
Prevailing Cost in the United States
Is About Twenty Three Cents
Per Ton Per Mile.

The prevailing cost of hauling over
the public roads of the United States
is about % cents per ton per mile.
More than 350,0O0,000 tons are hauled
over these roads each year, and the
average haul is about eight miles,
from which it can readily be seen that
our annual bill for hauling over the
public roads is nearly $650,00O, 900.
The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1916-03-10

There are many objections to the
sinking-fund method of retiring high
way bonds. It may not be possible to
obtain continuously the required rate
The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1916-03-10
We Pay Express and
Postage on Mail Or
ders Within $50 mi.
New Spring Merchandise

goods pouring
amazing pica
things
We penddly ready for the early
will
the moder the
Tailor Made
ST $50
Handsome New Sl1itsNever a beautiful
Remember this Silk Suit Season and will
find stock equaft the demand
Prices S. S35 Ask the SPORT
COATS Sport Coats will be demand this All the and
hobby Prices IS 500
Garments For Large Women complete line of
which
preserve
20
Visit Our Third Floor Dress Sectior,Speial showing
An Almost Endless Display Beautiful Goods
Ribbons Trimmings
Second F1oor-This Depart
this
exclusive dapei and make special
ty o. Especial order work.
o a Size Rugs
The in all
Giving Southern Wisconsin.
t
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22

Announcement was made today that tenn,
porary certificates for the first preferred
and common stocks of the Acme Tea COM
pany, Inc had been admitted to trading
in the Unlisted Department of the Phllauel-
phia Stock Exchange. The company re-
Gently took over all OF the Acme stores III
this city. =
or the first preferred stock, which Is
per cent cumulative, s2,75o,000 is admitted
and the common admitted amounts 70 90,
5O0,O The par value OF each Is 500, fuil
paid and nonassessable. The transfer
agents are the Pennsylvania Company tor
assurances on Lives and Granting Annulties
of Philadelphia, and the Guaranty trust
Company, of New York. Registrars, the
Commercial Trust Company, of philadelphia
and the Chase National Bank, of New York
Philadelphia and New York certificates are
both a delivery. For the preferred certif-
icates e7Ih was asked early In the day.
Late in the day 5Oh was bid for the COM
mon.
Steel trade .thorltles report quieter con-
ditions in the market and some producers
state that orders now coming to hand are
slightly below the operating capacity and
output at present Some of the business
that was pending a few weeks ago has been
virtually withdrawn, 1t Is believed, as MOTH
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22

NEW YORK, June 22.-The feature of
the foreign exchange market in the first
hour of business today was n decline in
reichsmarks of nc from Wednesdays final
figure to 74& and "a "a. The decline on the
movement in the last two weeks is &c. Lire
showed increasing Crmness. while a lower
tendency developed in Swiss and Scandina-
Wan exchange Sterling and francs were
steady without particular change. Quota
tions: Demand sterling, 4.75A OATS 1916 ;
cables, 4761a franc, cables, SOL; checks
5.91h; lire, cables 6.35A checks, 636 ;
Swiss cables, 5,26A; checks, SCI; pesetas
coils and 2O.3O; Vienna. 1880 and 1885 {;
Stockholm, % and 2S.25; guilders. Az q
414s; rubles, 1880 and 3065
The market continued fairly active after
the opening call. with further liquidation
by longs There was nothing in the way
of fresh market news to stimulate trad
ing on the long side. with weaker Bra
lillian cables and receipts at primary ports
running full. The local spot market
showed an improvement in demand, with
prices, however, unchanged at 9Ac. for
Rio No. 7.
Around midday francs improved about
3s. to 5,9OB for cables and 5.91% for
checks. Reischmarks shaded to 745s and
TAN. Sterling was unchanged. The other
market was dull but steady.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22
RATES FOR MONEY
RANK CLEARINGS
DIVIDENDS DECLARED

Central and Southern American telegraph
regular quarterly OF IA per cent. payable
July to stock of record June 80
Mexican Telegraph Company, regular quar-
tery of 2h per cent, payable July 10 to stock
United Firemens INSURANCE Company semi
annual Of per cent, payable June 30 to stock
Republic Halfway and Light Company reg
stock. payable July 10 to stock OF record
Temple Coal Company. quarterly of per
cent. on the preferred stock payable July 10.
Wells Fargo & Co.. regular semannual per
cent. payable July Is to stock of record July 81
Virginia Carolina Chemical Company regular
quarterly 2 per cent on preferred. payable July
10 to stock OF record June 80.
Interstate Railways Company, regular semi
annual 8 per cent. on preferred, payable July 1
to stock OF record June 23 Books close June
% and reopen July l,
Merchants National Bank, regular semian-
nual per cent, payable June 80 to holders of
record June "a.
Kenslngton Trust Company, regular semIan-
nual OF 3 per cent, payable June 80 to stock
of record June 10.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22
LOCAL EXCHANGE ADMITS ACME TEA
ISSUES TO THE UNLISTED DFPARtTMIrn1or
Trading Allowed in Temporary Certificates for Commo.
and Preferred Stock-Conditions in Steel Mar 'O'
ket Quiet--Light Trading in Stocks

ing more has been heard fror, a..
pecttve consumers. "e pros
1t is generally believed in the to-.
this situation has been brought boe abo's that
atfairs in Mexico. and that hesitas,out oy
oe expected until a clearer knoyiSs.tna koa may
what is to be expected can be MEG ob.ts Of
The point is made, however. by so,,,s Uo'a,ned lid
principal interests that even corS,ea y. ths
tween this country and Mexico csn De
the steel market only temporarIIv amect
the demand for steel is likely n u ~ mat
larger rather than smaller as a r..',.e ..some
the situation 'ult Of
There was very little to dlsous, a.. :,
trading on the local Stock Exchanva ~ .a,na tna
Traders on the floor and custorn.ss .ouay,
brokers' offices devoted much Ynoys 20, u
ton to bulletins on the Mexican si,nss,i
than to the trading In stocks, ana ss.On oes"'
quently business was on very sinai, .au,s
Prices we're generally toward lower is,.s,e is,s,e
but tho losses. with the exception Of tsss.S
Valley, which was Off more than ons .isn rassa
were small or unchanged from the cIoss -. -
yesterday. Lake Superior sold at the Nss ss,s. =.
price as last nights final early in ths ,.e da.'
but eased off in the afternoon. vssu
local issue was Lehigh Navigation. wtias
was of one.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22
COTTON PRICES ADVANCE
AFTER TAKING A DROP
Covering by July Shorts and Bullish
Southern Advices Cause Jump

NEW YORK. June 90 - Strength was
shown on the Cotton Exchange at the open
ing this morning and prices rose to 8
points Spot houses purchased July and
October and sold January.
Some of the largest floor operators were
good purchasers. Liverpool was active in
the market, selling october and December,
but was a good buyer of January Wall
street and commission houses took small
amounts. Room traders sold on the balance
and after the call they put out lines on
which prices dropped to points before
the end of the first Is minutes.
The setback from the opening advance
carried prices back to about last nights
closing figures. There was Southern SELL
ing of July, presumably realizing on long
contracts, and considerable scattering Wall
street liquidation, which may have reflected
the unsettled ruling of the stock market.
Prices rallied in consequence, with July
selling points net higher after II o'clock,
while later deliveries worked some to 4
points net higher
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22
RAILROAD EARNINGS
TOLEDO. ST. LOUIS AND wEsTEI
English Bank Statement

LONDON, June 22-The weekly state
ment of the Bank of England shows the
following changes Total reserve E44, 4,942,-
600, increase f27O.OOO circulation, Es5 ,21s.-
600. decrease 100000; bullion f61 100000
Increase fl34,0O0; other securities f73, ,3s2,-
600. increase e.. $4,000; other deposits f9l =
$40 600. increase "a. 4.00s,000 public deposits
f5l, 200, 600, decrease f1,064.000; Govern
ment securities f42,1s7.0o0, unchanged The
proportion OF the banks reserve to liabilities
Is now $3.50 per cent, against 3190 per
of from 1914 per cent. to 1874 per cent. in
this week last year Clearlngs through the
London banks for the week were f275.67O.-
600 against 1890, ,3T0 600 last week and
f236, ,435 900 this week last year.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22
Financial Briefs

May net earnings of the Oklahoma Pro-
ducing and Refining Company were approx
imately $4,000, or at rate of S225.000
quarter. This is six times the dividend
requirements on the s1,500,000 capital out
standing. At the present rate of "a per
cent. quarterly. June earnings are expected
to exceed those OF May, owing to increased
production.
David NJ. Miller, for some years past con-
nected with Francis Ralston Welsh, has be-
come associated with Robert w, Daniel
The New York Subtreasury lost Ss.42s, 900
to the banks on Wednesday. and since Fri
day lost s26,ss3,OOO.
Andrew Hoyt has been elected member
OF the New York Stock Exchange. George
C. Thomas. who recently bought the seat
OF the late Edward F. SIayback, has been
proposed for membership in the Exchange.
Announcement is made by the Chicago
Elevated Railways OF an extension plan af-
feeting tae two-year per cent. secured gold
notes issued July 1, 1914. 1t is qesigned
TO extend maturity to July l, 1919, under
an arrangement whereby interest Is 10 be
increased to 6 per cent, with SIS cash to
be paid IN respect OF each $1,000 face value
OF extended notes. The National City Bank,
Of New York, is depository under the plan.
Next Monday the petition Of the Fearon
committee OF the Wabash-P Pittsburgh Ter
minal Railroad bondholders will be heard
BY Judge or. ia the Federal District Court,
at Pittsburgh. The petitioners objected to
the reduction In the upset price urged BY
the majority bondholders' committee for
the forealesags sale,
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22
LONDON STOCK MARKET
Americans Sag and Lack Steadiness.
Markets Are Quiet

LONDON, June 90. - There was less
activity in securities on the Stock Exchange
today and the markets were higher. Dull
ness was noted in gilt-edged section. Deal
ings on the exchange were sanctioned in the
$4,000, 900 So per cent. four to six year
Australian Commonwealth loan, the under
writing of which at par was completed.
Americans sagged and steadiness was
lacking, following the setback at New York.
Canadians were sluggish, South American
rails were quiet and mixed. Dealings in
home lines were not brisk and the group
had a confused appearance.
Under the lead of Russians, allied bonds
were cheerful Further Russian credit bills
were offered and they were absorbed readily
at lie per cent Spanish issues were
dull in sympathy with Paris.
Investment stocks were assisted by the
Governments reduction in the tax on un-
earned incomes
London markets less active
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22
TONE is VARIABLE
ON NEW YORK CURB
Public Interest Lacking-Prices
Are Generally Lower-Okla-
homa Oil Active

NEW YORK, June 22.-The market tone
on the Broad Street Curb was extremely
variable throughout the day, with price
movements in most cases following the lead
of the important issues on the stock ex-
change. Public interest was lacking and
there was little effort made by leading
operators or pools to force important move
ments, and in consequence business was
to a great extent of drifting character,
with lower levels generally in order
Special developments in the oil fields
were incentives for trading on large
scale, with Oklahoma Producing and Re
filming. active, selling as high as So. Other
oil stocks, however were in slight demand
and yielded under small sales There was
some wide fluctuations in the motor stocks.
Chevrolet advancing from 22l to $50, but
losing this gain in the afternoon.
Metropolitan Petroleum was directly in
fiuenced by the Mexican situation and sold
down more than / point, and declines were
noted in Sinclair Oil and United Western.
Zinc stocks followed the lead of the stocks
in the same class on the Exchange with
the new United Zinc falling from so to g..
Little attention was paid to United Motors,
apparent syndicate manipulation being
about the only trading in that stock.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22
N1Iz%kggz!e 1Izk % SERVICE
" SECURITIES

Public Service Securities are lien
on the success of communities.
q Municipal Service Co. S % Collateral
Trust Sinking Fund Gold Bonds.
g~These bonds are amply secured by
deposit of first mtg. bonds to an amount
greater than outstanding Municipal Ser
vice bonds and veryconsiderable equity
In the stocks of the several subsidiaries.
in in Penna., Virginia, twoi Ohio, So.
Carolina, Georgia, which insurss the
stability of earnings, which are largely
in excess of required charges.
q Tax refund in Penna. FREE from
normal Federal income tax.
Baker Ayling g Young
Land Title Bldg. Philadelphia.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22

CHICAGO. June 22y-wheat again moved
frregularly today, finishing lower, but above
the bottom Better weather gave the mar
ket an easy start but official predictions
for showers turned sentiment later, and
prices sold above yesterdays close, the
selling having been Overdone
On the rise there was a great deal of
liquidation. which more than took care of
; demand from shorts, who had been stam-
peded, and all other wants. There were
export orders in the market but bids APP
peared to be out of line
A leading commission house called atten-
tion to the fact that there had been sales
OF 5000 900 bushels of Manitoba in the last
few days 10 be shipped abroad at the rate
NJ I00.o 900 bushels month
Interior receipts were large The mar
ket at Liverpool displayed heayiness be-
cause of the fact that Argentina, Australia,
India. Canada and the United States have
reserves sufficient to supply the United
Kingdom for IL months. There was
further recession In Atlantic freight rates
and the inquiry from the Continent was not
urgent
Corn finished easier after having de-
veloped considerable strength on indications
of showers. Moisture was not looked upon
as favorable. In view OF the recent long
continued rains and cold nights. The mar
ket at Liverpool was dull but steadier.
Oats ranged higher, but did not retain all
the gain. Expectations OF a demand from
the United States army and the heavy re-
uuirements OF importers abroad were in
nuenees.
Leading futures ranged as follows;
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-06-22
Liverpool Cotton

LIVERPOOL, June 22-There was a
fair business done in spot cotton today,
with prices points lower on the basis of
S.22d. for mld-upland The sales aggre-
gated 5000 bales, including 5000 bales
American. The imports were 1900 bales
including 1000 bales American. The mar
ket for futures closed easy at a net adj
vance of 31s @5h points,