davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-07-27
Standard Oil Nav
Change Basis of
Capitalization
Par Value of Common Stock
May Be Reduced or Made
Nominal; Active Trading
i'm New Preferred

The new preferred stock of the
Standard Oil Company of New Jersey
sold in the curb market yesterday on a
when, if and as issued" basis at $116
q share. Creation of this new issue Of
S10O,000,000 preferred per cent stock,
in addition to providing funds for the
expansion of the corporations for
eign trade, is believed to be the first
step in a general readjustment Of the
company's capital structure which will
result in a reduction in the par value
of the present Stock or a sub division
of the 500 par value shares into
shares of no par value.
AS the company acquesced in the
underwriting agreement with j. T.
Morgan Co. to make public from
time to time balance sheet and in
come account and to list the preferred
stock on the Stock Exchange, there is
general understanding that the COM
mon shares also will be listed.
The notice to stockholders in connec-
tion with the current financing indi-
Gates further action. Among the
amendments to be made in the COM
pany's certificate of incorporation is
one to the effect that from time to
time either class of stock may be in
creased or decreased or one or more
additional classes Of stock may be Gre
ated
The compensation to be paid to J. P.
Morgan & Co. for underwriting the new
preferred stock is 1 per cent of the
amount offered for subscription, or ap-
proximately $1000,000.
Announcement that the Standard Oil
Company of New Jersey was contem-
plating the expenditure of nearly $780,
100000 to carry out it's ambitious for
eign trade plans resulted in increased
activity and strength in the Standard
Oil issues now traded in on the curb
market and over the counter. The
stock of the New Jersey corporation
rose 80 points to $772 a share, and the
rights to subscribe to the new stock
advanced above $15 a share. The val
uation of these rights was apparently
based on the statement of the man
agement that stock would be redeem
able at Is points above par. The new
preferred opened at 115, went to l16
and closed at 115
Stockholders have the option of MAX
ing payment on the new stock either
in full on or before September 15 or
in four equal instalments on or before
that date, October IS, November Is and
December Is. The transfer books Of
the company close on August 5 and re-
open August 16.
New-York tribune., 1919-07-27
Copenhagen Seeks Funds Here

Arrangements are understood to be
nearing completion for the extension
to the city of Copenhagen, Denmark,
Of a $12,000,000 credit. The loan will
probably run for a number of years
and the bankers interested in the trans
action are said to be Brown Brothers
g. Co.; Lee, Hgginson g. Co., and j. &
W. Seligman & Co. The yield to the
investor on the bonds, if precedents
established in recent foreign issues be
followed, will be slightly more than 6
per cent. The proceeds from the sale
Of the bonds, it is said are to be used
mainly for the purpose of building new
docks and other improvements at the
free port of Copenhagen.
New-York tribune., 1919-07-27
Looking Backward

On May "a the ticker tape abbrcvia-
tion for Sinclair Oil was changed from
so to sc. In the light of the an
nouncement of the Standard Oil Com
pany of New Jersey that it is going to
list the S100,0OO,O0O of it's new pre-
fcrred stock, Wall Street yesterday pro-
fcssed to discern a particular signif-
cance in the change in denoting the
transactions Of Sinclair Oil. Some even
went so far as to say that the Stand
ard Oil management was actively work
ing on its new capitalization plan over
two months ago.
New-York tribune., 1919-07-27
Banks Improve Position

The explanation for the more nor
NAL call money market last week was
supplied yesterday in the statement Of
the Clearing House banks. 1t showed
that the banks were able to contra ct
their outstanding loans by nearly $780,
100000, and at the same time increase
their surplus reserves by So 800 900
The banks also cancelled a portion of
their borrowings at the Federal Re-
serve Bank of New York, the 1edis
counts of that institution against
United States government paper
amounting to S649, 7,496, compared
with 1861, ,882,180 the previous week.
New-York tribune., 1919-07-27
Cunard Steamships Year

The annual repor, of tie Cararl
Steamship Company. Ltd for tire year
ended December 81. iflS. shows yros
earnings of S3,S0l.e 900. compared ufa
,s9ss9,9l7 for the preceding yaf
from TINS amount expenses of 4
go were deducted.
tl.207l25. Previous arce a
- o',722, bringing tleta.l
1he end of the 1er
After depreciation. income aa g.
9ehds and other cnaf-rs, fIo.. aHl
loss surplus was sl1.--.
New-York tribune., 1919-07-27
The Small Fry

Small traders continue an important
factor in the stock market. During the
last week, as has been the case for
many weeks, trading in odd lots on the
Stock Exchange has shown large bal
ance on the buying side. According to
competent authority, small traders
during the last two weeks, despite the
severe relapse in prices on two occa-
sions, have continued to buy with great
enthusiasm. Last week purchases of
stock, it is estimated, were about 35 per
cent in excess of sales
New-York tribune., 1919-07-27
New York Dock

New York Dock common, which
scared to Sc as the result Of opera
tions of powerful pool, sold at 1919
early in the year. Until the pool oe-
came active in this issue the market
for it was extremely narrow. Specula-
tive interest in the stock has been
aroused in recent weeks by the posi-
bllities of greatly increased profits ac
cruing to the company from the ad
vance in the leasing value of piers
along the New York waterfront New
York Dock owns a number Of valuable
piers and storage houses about New
York Harbor.
New-York tribune., 1919-07-27
Goodyear Tire Dividends

TIL Goodyear Tire and Rubber Com
pany has declared a regular quarterly
dividend of 3 per cent on the common
stock, payable September l to stock
holders of record August IS, in addi-
ton to the regularly quarterly divi-
dend of per cent on the second pre-
ferred stock
New-York tribune., 1919-07-27
Steel Production

Production of steel at the principal
mill centres continues at the rate OF
about 70 per cent. Some plants have
increased output slightly in the last
week. The volume of incoming busi-
ness is said to be satisfactory, but poor
ly distributed. giving full operation to
some departments of the industry and
light operations to others. The steel
rail mills are not doing much, and there
is little indication of Improvement in
this department, since the railroads are
not .buYing.
New-York tribune., 1919-07-27

We advise our clients 20 scll III. or
nearly all, Of their stocks at their
present prices or on bulgcs. We do
not expect the market TO dcclin, pre-
ctpitatcly, because large proportion
o. the big holders of stocks will no.
(hecausc Of income taxcs) sell for re-
actions. They will as n rule, sell ONLY
"aen they reach the conclusion that
New-York tribune., 1919-07-27
Financial Bureau.
Telephone Bcekman 5000.
all Street
Market Strong, but Quiet

Stocks were generally strong yester-
day in quiet market. New leaders
appeared, notably the so-called food
shares, with United States Food Prod
ucts, Corn Products Refining and Cali
fornia Packing prominent in the deal
ings, all these issues establishing new
highs. Steel common was a feature Of
strength during the two hours trad
ing, advancing / 80 points to 113 New
York Dock advanced 11% points net to
56 on dealings of 1900 shares Other
strong stocks were Royal Dutch, TO
bacco Products, General Motors and
Lackawanna Steel
New-York tribune., 1919-07-27
Italy asks u. s. for
81, 900, ,OOO,O 900 Lour,

DOME, July 26.-It is reported
here that nm appeal has been
made to American bankers for
financial aid for Italy to the extent
u Sl,O00,0 900.
New-York tribune., 1919-07-27
The Days Bond Market
Following is a complete record OF
all transactions in bonds on the Ne,u
York Stock Exchange yesterdoy:
u. S. Government Bonds
Liberty Issues
Transactions

The following table gives the trans
actions yesterday and the approximate
investment yield in the several Liberty
loan issues at closing New York
Stock Exchange prices:
New-York tribune., 1919-07-27
French Duty on Tires

In a recent decree the French gov
ernment fixed the import duty or pneu-
matte tires at S1707 per 100 pounds.
while for solid tires the ratc vas
placed at 1l.3S per hundredweight
These specific duties, according to
New-York tribune., 1919-07-27

The Federal Reserve Bank of New
York has put in force the following
schedule of rediscount rates, which
apply TO bankers acceptances: Maturi-
ties up to Is days, per cent; 16 to so
lays, inclusive, AZ per cent; 81 to 80
days, inclusive, Az per cent.
New-York tribune., 1919-07-27
Corn Products

Corn products still pursues fnan-
cial policy that makes the Bank Of
England look like a faro layout Earn
ings are running at such a rate that
dividends could easily be inauguratcd
Why this has been done is something
Of puzzle.-Odd Lot Reviep.
New-York tribune., 1919-07-27
Wheat Costs $50 to Raise

Figures presented at the Intcrna-
tional Farm ConQress, held at Kansas
City, show tha, ths average cost Of
yaising bushsl Of wheat In the states
- Ksnaas. Missouri, Nebraska and
CAiahoma Hao Sl0Q.
New-York tribune., 1919-07-27
Finance and rade
Business Mems Bureau.
Telephone Beckman 8243.

there is something radically wrong
with a corporation in which the: are
stockholders.-Goo e Co.
New-York tribune., 1919-07-27
Market Opinion
Perpendicular Rise Over

1t is evident that the period of per
pendlcu!ar rise Is about over, and the
shrcwd trader will exercise caution
lest he be compelled to NJ rse commit
ments made on the bulges that might
have been purchased several points
lower on the declines which now as in
all advanced stages of speculation are
becoming more frequent Lamborn & Co.
New-York tribune., 1919-07-27

Commercial Attache O. ID zau. "a
equiNalont 20 an increase. al.N pr cent
in the former latess.
New-York tribune., 1919-07-27
Money and Credit

Loans and discounts of the New York
Clearing House banks decreased $97,-
054000 to $4,861 ,063, 900 last week
while net demand deposits decreased
$106,354, 900 to $4,007 ,455O0O.
United States government deposits
were reduced from $149 100000 to
1929 1880, 600. Excess reserves increased
3,402, 200 to $29 609, ,410.
According to the weekly statement
of the Federal Reserve Bank of New
York, gold holdings increased $28, ,O0O,-
00O
Bank Acceptances.-Rat were un-
changed, as follows:
Thirty Sixty Ninely
Spot de- days. days. days.
livery: Per cent. Per cent Per cent.
Eligible
member
banks. -. 4h@4 4A@4a 42s@4fs
Eligible
Eonmem-
Der banks4a@4 4h@4}4 4s@4as
Ineligible
bank bills.5A@4Iz 5I4@4z 5I4@4M
fo- delivery within thirty days:
Per cent
Eligible member banks. ........ 4Ts
Eligible non-member banks. 80. 4La
Ineligible bank bills.
Discount Rates.-The following table
gives the current rates Of the twelve
Federal Reserve banks on commercial
paper for all periods up to ninety days:
New-York tribune., 1919-07-27
Would Buy on Recession
Would Sell Stocks

We think stocks can still 1e ought
n small recezsions. Wrcnn Bros. {: Co..
New-York tribune., 1919-07-27

Paper Made From Seavccd
Ftreproof, waterproof and odorless
paper has been made from a seawecd
by an English scientiat.
New-York tribune., 1919-07-27
Bank Clearings.-Bank clearings yes

e71ee'1 11tS I1f7IIh CItdTIHBS yes
terday were:
Exchanges Balances.
New York ..$779,o53,259 $57,957,673
Baltimore -. 14,766,078 4,810,53O
Boston 49,. 58,321 ,6O4 13,433,752
Philadelphia. 60,876,1o 14,506,S97
Silver.-London, 5510d; New York,
sl.o64; Mexican dollars, SSas (0S7ssc.
Sub-Treasury. - The Sub Treasury
lost $326,00O to the banks on Friday.
London Money Market.-LONDON
July 26.-Closing rate for money, 27s
per cent. Discount rates-Short bills.
3 Is@ 2 per cent; three months bills,
80 (G39s per cent Gold premiums at
Lisbon, 40.
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22
rIMEsREkuBlcAN MARsAlLfowN IOWA, sEPTEamER =
Omaha Live Stock.

Omaha, Sept, 90
Cattle-Estimatcd receipts Tor today,
$4,000; market. higher,
Heavy beef steers, medium
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22
New York Produce.
New York. Sept. %.

New YOrk, sept. z.
Butter-Ffrm: receipts 6.2$5 tubs;
creamery specials. 5s12 G50; creamery
extras. (s2 score) So: extra firsrs. 524
SIS: packing stock, current make. No.
>, a.
Cheese-Irreguiar: state and whole
milk special. 30h dS1; average run
2sG30.
Eggs-Firm; receipts $3.50 cases:
fresh gathered selected extras. 51d5S;
extra firsts. 54G So; 'frsts. 1888.
Poultry-Alive- steady; chickens 80;
old roosters. 10: fowls, 80 a IS; turkeys.
25G 80; dressed. steady; fresh killed
western chickens, 2T@4s: fowls, 2sG
80: old roosters, q G22.
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22
pRecEs IN CORN MOVE UPWARD
AS RESULT OF COVERING
BY SHORTS.
BzARIsH EFFECT OF STEEL
eTRIkE DISCOUNTED
Upturn Follows Opening Of Steady
Msrket-oats Follow Lead Of Corn
With Market Unchanged to Cent
Higher - Provisions Governed by
Action Of Noss and Grain.

Chicago. Sept. Corn prices
moved upward today as q result of
covering by shorts, which took the
position that the bearish effects OF
the steel strike had been discounted.
Strength of hogs tended to lift values,
Opening figures, which ranged from
Saturdays close to ~ cents higher,
with December l.22s to 1913 and May
I.21 TO 1919, were followed by a slight
upturn all around.
Later there was persistent buying for
commission houses. Offerings were
light. The market closed strong, to
81 cents net higher. with December at
S1.25s TO s1.25&, and May at sl.2SS
to s1.23S.
Oats assembled with corn. After
opening unchanged to Il cent higher,
the market sagged and then rose high
er than at first.
Provisions.
Provisions were governed by action
of grain and hogs. Initial prices
showed a weakness.
No important setbacks took place in
the late dealings.
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22
lAMsoN's MARKET REPORTS.
Furnished by Lanson Bros. & Co., 20

Furnished by Lanson Bros. & Co, 2o3
Masonic Tenn pie: Phone 1913.
Chicago, Sept. 22.-Corn-There was
no important pressure on corn at any
time today, and offerings were grad
ually absorbed until the market closed
at the high point Of the days range
and near the top of the present reac-
ton. There was a good deal Of trad
ing on the steel strike, which has lit
tie to do with the market for grains,
unless It spreads TO transportation
lines. Cash corn was in good demand,
altho eastern buyers held off over
Sunday, hoping to find a weak mar
ket today.
Oats-After opening, oats acted
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22
Chicago Produce.

Chicago, sept. -.
Butte--Higher; creamery i'no'.
Eggs-Higher; receipts, $685. cases.
ordinary firsts. 1914 4l1s.
Poultry-Alive. lower; fowls. Esq
500.
Pork-Cash. nominal.
Lard-Cash, PAS.
Ribs-Cash, ls.25Gls.5o.
Rye-No. 2. 1.43.
Rarley-1.2 goa $50.
Timothy-S.50G1l
Clovcr-Nominal.
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22

strong. leading In the advance In corn
most of the day. Heavy oats continue
in excellent demand, and speculative
sentiment Is intensely bearish.
Provisions After opening weak
product reacted and closed around the
days best prices. Selling came LARGELY
from scattered sources, while pack r
were credited with buying on IN
breaks.
ChicaEo-whcat. INA; corn, $40;
oats. 2Sl,
nneapolts-wheat. sci; corn. II;
oats. SO.
Duluth-wheat, e5: corn, 0: oats. S'
winnipeg-Wheat, 532; corn, Q; oats,
Of.
RANGE OF PRICES.
Prev,
Omen High Law Close, Close
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22
Rance Of Chicago Grain Prices.

Corn-Dec., opened at l.2@3s; high
est, 1854; lowest l.22is; closed
122ss; May. opened at 1.21; highest
1875; lowest 1.20as; closed, 1888.
Oats-Dec., opened at SO; highest,
T0;s; lowest, 691a; closed. 20; May
opened at 70A; highest, 72lS; lowest,
70Ss; closed, 72ss.
Pork-oct.. opened at ss.75: highest,
$3.50; lowest, 1878; closed. $3.50.
Lard-Oct., opened at 1915; highest,
1880; lowest, o5.70; closed, $3.50; JAN,
opened at 211o: highest, 21.s2; lowest,
21.I0; closed, Clio.
Rfbs-Oct., opened at 1880: highest,
1880: lowest, 1s.47; closed. 1880; Jan.
opened at 17.40; highest 1880; lowest,
I7.40; closed, 1880.
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22
MINNEAPOLIS CASH GRAIN.

Mlnnea pOIls, sept --'
Corn-No. 3 white, 1.4lGl.43: No. i
yellow. 1.44Gl.l5: No. yellow. hssn
l43: No. yellow. l.ioGlI; No. )
mixed. I.4IG143: No. mixed, 1.Ssu
~: No. mixed, l.559l.SS: other
grades. 1.25I1.35.
Oats-No. white. s+a a67as; No.
white, s4Sa6s7s; No. 4 white, 6I5s q
647s.
Barley-Choice. 1.2lTlcs; medium,
l.I4aI.2o: lower grades, ESQ lis.
Rye-No .. laos Il.407s.
FlaX-4S564.10.
PEORIA CASH GRAIN.
Peoria, Sept. 90.
Corn-Receipts 90 cars, unchanged TO
! cent higher: No. yellow, 1.isIa; No.
. yellow. l.i9ta; No. yellow, Las: NO
5 mixed, l4SIa: No. mixed, 1.i1Q Las;
sample grade, Las l.4S.
Oats-Thirteen cars unchanged to
one-half cent higher: No. white. o''2
ass.
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22

Open. High. Low. Close. Close
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22

Sioux City Live Stock.
Sioux City, Sept. ~.
Cattle-Estimated receipts for today,
$500; market. strong.
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22
Chieauo Potato Market.

chicago, SEPT. =.
Potatoes-Weeker Minnesota bulk
and sacked round whites, s2.45 70
S2.55: bulk and sacked early Ohios'
80 to $3.50; Wisconsin round whites,
s245 70 s2.55: sacked round whites,
L. s. grade No. !. $3.50 to $3.50; Ida
no rurals, sacked. $3.50 TO $500; Maine
Irish cobblers, SO. Receipts, Sc cars
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-09-22
Kansas City Live Stock.

Kansas City, Sept. %.
Cattle-Estimated receipts for today
$4,000: market steady. 1000 calves.
Heavy beef steers. medium
md hnavN weight choice
Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1919-06-10
MARKET AT SPOKANE.

The general business and economic
situation is a true paradox. On one
hand it may be said that continued
advances in the average price OF
many commodities, due, in large
measure, to continued wage in
creases, is hating real development
and REIMBURSEMENT" more than any
other single influence. On the other
hand it may be said that efforts to
organize the country for peave activi-
ties have made considerable head
way. There is a good tone to gen.
eral trade, with broad activity in re-
tail lines at various centers owing
to the relatively high spending
power of the wage earning classes.
In this section wheat crop pros
poets continue better than in any
previous year, both as to acreage,
conditions and assured remuneration.
The lumber business is well sus-
tanned and due for expansion. Min
ing is steadily readjusting itself and
getting going on fairly active
basis again.
Provisions.
Butter-A good demand, including
in-storage and export, is holding the
market up at a season when 1t usu-
ally declines. If coast markets
should advance again (they went up
to cents in the last two weeks)
there would have to be an advance
here, but this may not occur. Local
quotations have continued steady at
IS cents for cartons, 81 for prints
and So for butter fat
Cheese-There have been no
changes. quotations holding at sea
81 cents. Production is charging.
Eggs-Quotations are unchanged
at s12 to the producer (this includes
loss Off and S13.5O@13.75 wholesale
While production continues heavy
active in-storage movement has pre-
vented further declines.
Poultry-Broilers are off cents
through the list. Ducks are up
70 2 cents. due to receipts not equal
veen to a limited demand. Other
items unchanged.
Fresh Meats-Receipts at the
union stock yards for the week end
ed. June 4, were 975 cattle, IL
calves. sO4 hogs and 4,43O sheep
Seasonable conditions are reflected
bv declines practically Throughout
the live list to a top of $3.50 OF
hogs. $3.50 on cattle and S14 OF
sheen. In the dressed list, steer bee
is off / to 2 cents with other items
alphabetically easier:
Lard and Cured Meats-Som'
brands of lard are slightly higher
Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1919-06-10
THE ASSOCIATIONS.

The annual convention of the Ma
tional Retail Hardware Association
will be held in Pittsburgh, Pa, June
1927. Herbert p. Sheets, Argos, Ind,
is secretary.
The Oregon State Retailers Asso-
citation, headquarters Portland, is or
ganizing a fire insurance department,
through a special arrangement with
the Northwestern Mutual Fire Asso-
citation of Seattle, which is to seq
gregate the associations business
and conduct it on a mutual profit
sharing basis.
The Portland (Ore) Grosers and
Merchants Association has voted in
favor of Wednesday afternoon clos.
ing during July and August. This
association is planning sending del
egation to the national convention in
Salt Lake in June and will also hold
it's annual grocers' picnic August 9Th
at Bonneville.
Forty representatives from eight
western Moptana counties unite at
Missoula, Mont, June 3, in an en-
thusiastic meeting at which prelimi-
nary steps were taken for the for
nation of the Western Montana
Chamber of Commerce. At the con
clusion of a day of meeting, lunch
cons and entertainment at the Mis-
soula Country club a committee OF
IS; composed of two members from
each county, a chairman and a sec
rotary, were appointed to meet June
10 to effect permanent organization
and to call a second convention
within 80 days.
Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1919-06-10

1;censsd Architect for the State of
Idaho. Address 511 Fourth Ave. Sand
point, Idaho.