davidaulloa/AmericanStories huggingface dataset:
The sun., 1919-08-22
SYNDICATE OFFERS
B. R. 7. CERTIFICATES
$18,000,000 Issued by Re-
ceiver Put on Market at
90 and Interest.

The syndicate which purchased S18,-
100000 Brooklyn Rapid Transit Com
pany 9 per cent. two year receivers GER
tificates from the receiver. Lindley NJ.
Garrison. is offering them, through Solo
mon Bros & Hutzler. at 9s and interest
Tho members of the bankers purchasing
syndicate are the Chase Securities Cor
poratiol, Bankers Trust Company. Gem
trail Union Trust Company, ]. & w.
Seligman & Co, and Hayden, Stone 4
Co. The price paid is said to have been
95 and interest.
Outside Of the offering by the discount
house OF Solomon Bros. & HutEler the
banking houses concerned are selling
the bonds privately and have not or
ganized a distributing syndicate. The
certificates. which are dated August /.
1919, and mature August /. 1921. are
part of an authorized issue of $50. 0oo.-
900. They are in denominations of
$1,000, and are redeemable at any inter-
est date at par and accrued interest on
thirty days notice.
The proceeds of not less than s13 .000.-
900 nor more than SIS 100000 of the
certificates are to be used principally to
complete the subway contracts with the
city OF New York, and the proceeds of
the balance to complete the power house
improvements required in connection
with the new rapid transit lines.
The sun., 1919-08-22
GENERAL MOTORS MEN SAIL.
VIII Look Over Foreign Markets
for Their Cars.

The trip abroad of several officials of
the General Motors Cooperation. who
sailed yesterday, will probably have q
considerable effect upon the future ex-
pansion OF that organization along ex-
port lines. General Motors is reported
10 be planning to enter the foreign mar
ket on a broad scale. not only in COM
petition with foreign built cars, but with
American manufacturers who have al
ready obtained a footkold In the old
countries.
The purpose of the party's trip
to look over the field and offer sugges-
tions as to how this may best be done.
1t is deemed likely that General Motors
will follow the lead Of Ford In the for
eign field by establishing ASSEMBLING
plants in various centres. shipping the
cars in knockdown shape. assembling
and sailing them at points Of delivery.
The foreign automobile market is de-
clared to- be bare, particularly OF in
expensive pleasure cars. Second hand
automobiles. II is reported. are bring
ing about the price of tho new car. BY
quick and direct action American manu-
facturers are bestirring themselves to
gather in the cream OF this insistent
trade.
The sun., 1919-08-22
CONSOLIDATED EXCHANGE.

The bulls had il all their own way In
the matter of encouraging developments.
on which the professional bear element
was sigually worsted on the Consolidated
stock Exchange yesterday after a brief
advantage at the outset.
United States Steel common was bid
up 2A rfrom its early low to 101. Cruel
bic 5H 10 1861 Bethlehem Steel b az
TO SO ana Baldwin Locomotive az to
lolA. Tobacco Products, which at the
start fell back 4 points to S5%, rallied
10 S7aI. American Sumatra was bid up
81 70 7SH. International Mercantile
Marine common netted a gain OF 2k to
53Is. the preferred 21s to ll2N, and
American International Corporation 2B
to 93%.
Reports OF a new gusher on the Sin
clair Oil holdings caused a vigorous de-
mand On which the shares moved up I X
10 57js. Mexican Petroleum gained
-. 10 1884 and Pan-American Az to
s'h. General Motors rose 9h to 222.
while Studebaker gained 49, to ss.
United States Industrial Alcohol moved
Up "a from it's early low to ls2A, Key
stone Tire bss 10 70h. Kelly-Springneld
N to l24A and United States Rubber
TO ll9.
Copper properties were slightly i'm
proved. Gains OF from one TO two points
we're melted in the active railway shares.
The sun., 1919-08-22

FOREIGN BONDS DEALT IN FLAT.
Mexico Extern. sterl. IS Of 80, 1876. =. 60
Mexico Extern gold IS of "a, 1854. sen 66
The sun., 1919-08-22

mount among the factors contributing
TO the recovery was the weakened tech
meal position, which In itself was a
check against a further recession. The
rally in foreign exchange had bullish
effect on Wall Street and outside opera
tors and was, the cause OF buying by
some old bulls. Shorts, however, were
again the most prominent on the buying
side, tho peak OF tho advance in the
afternoon seeing a rush to get under
cover.
Weather and crop advices were rather
bulllsh. Worms and weevil were re-
ported active in Western localities and
rains or showers were general in the
central belt In the Southwest. how
ever, many believed the downtails oene-
fetal owing to the excessively high
temperatures that prevailed there re-
Gently. The securities market as a
barometer to the country's labor situa-
ton was carefully watched, the better
ment there late in the day being re-
neoted in new local buying.
Many were again observing policy
OF 'watchful waiting" as It was felt
that the approaching Government report
on the condition Of the growing crop
would do much toward determining the
future trend of values. AT times senti-
The sun., 1919-08-22
FINANCIAL NOTES.

Ksnnecott Copper Corporation produced
s,E3,66O pounds Of copper In July, COM
J. c. Penney Company reports sales for
July at n.s5323s. an increase of S4lI, $50
over same period last year.
member OF the New YORK stock EXobanKe
New York stock Exchange has admitted
to dealings Kelly-Springneld Tire Company
temporary certificates per cent. preferred
stock
Thomas A. Buckner. vice-prssident of
the New York Life Insurance Company,
has been elected a director of the Columbia
Trust Company.
Liberty National Bank has been ap-
pointed r:sIstrsf Of the the preferred s, and
Corporation OF PsnnsylvAnia and the pre-
ferred and common stock OF the Tacony
Neville Godren Hart and Ira Haupt.
members OF tho New York Stock Exchange,
have formed partnership under the firm
Broadway. to deal in stocks and bonds.
Directors of tho Mercantile Bank Of
Americas have ELECTED as additional vice
joint title Of Woe president and general
manager; L g. wyler, Walter NJ. Van
peusen and WI,Am s Mt of sh: Chem
Icai National Bank Edwin Gibbs. assistant
secretary OF the Farmers Loan a Trust
Company. was appointed trust officer. Ho
lied trust department. W. F. Crook. for
several years credit manager OF the bank,
Hugh F. Donneily credit manager of
the Italian Discount and Trust Company,
was appointed assistant secretary OF that
company yesterday.
Bankers Trust Company has bssn APP
pointed transfer agent for the preferred
and common stock of the p. l.. Collier a.
SON Company; for the preferred and com
mon stock OF Oklahoma Producing 4 Re-
lining Corporation OF America, and agent
Tor the S per cent. cumulative sinking
fund FIRST preferred stock OF the Anal
xamated Sugar Company.
The sun., 1919-08-22
EUROPE DUMPS HERE
MILLIONS IN BONDS
Exchange Rate Is Advantage
to Foreign Holders Of U. s.
Railroad Issues.
IN BLOCKS OF $25O,oOO
Increase in Movement Is Elk
pected, Unless Sterling
Shows Improvement.

Railway bonds to the extent of many
millions OF dollars are being marketed
here by European holders, It was learned
Yesterday, In order to take advantage of
the opportunity to get more pounds ster-
ling per hundred dollars than would be
available in ordinary times. The exact
extent of this movement Is uncertain.
but the sources OF information agree
that 1t Is heavy one.
Bids were asked this week on stand
ard American railway bonds in blocks OF
$3.50 600 each by international banking
houses acting for holders In England
and France, but the best offers were in
general Ave points below the current
market on account OF the magnitude OF
the securities for sale here. With ster-
ling about 1b per cent below parity
even these bids are somewhat advnn-
tageous to the foreign holder. How
much of this business has been consum-
mated is matter OF conjecture, but IL
is probable that the movement will In
crease rather than diminish unless there
is substantial recovery In exchange
The news that these securities, Gre
atlng in London commercial bills on
New York as more or less OF an offset
TO the commercial bills for sale here on
London, 1t was said yesterday. had con-
siderable to do with the rally in ex-
change on London and Paris. Any fao-
tor that would help the position of the
pound as expressed in dollars Is suf-
fcient TO induce short covering To q
moderate extent In sterling and franc
exchange. but the development has not
gone far enough to determine whether
the ebb tide in sterling and francs has
been stemmed or not.
Recovery alternated with reaction in
the foreign exchange market yesterday,
but on the whole moderate improve
ment in rates resulted. Sterling ended
the day at SAITH to the pound, against
Wednesdays final Of $4.15A francs at
sl7 to the dollar, unchanged from
Wednesdays closing. and lire at s.5s.
During the recovery sterling sold as
high as SASSY to the pound.
The sun., 1919-08-22

ment was reactionary, but the under-
current. while irregular. was indieput-
ably improved NIX
Liverpool displayed an excellent tone.
with spots in better demaud and futures
higher. closing we'll UP from the previous
ending. Liverpool received scant alton
ton at the local opening. which was
steady, to 20 UP on the active list.
After the start on furry Of New
orleans selling the market reacted 20
about Wednesdays hnal level From
then on, however. the tone improved.
prices being steadily bid higher as the
session progressed.
Demand came principally from those
short OF the staple. Holders OF con-
tracts held on in the face of the rise
and longs seemed In no mood TO sell
The afternoon saw the high mark OF
the day established ~
Export clearances, almost $4,000 bales
being posted at 2 o'clock, were favor
able, bulls making the most of the move
ment which was the largest IN some
time. When options had advanced from
81 to more than IS bale a natural
profit taking reaction set IN. 1t amount
ed 10 little, however, and the close was
not far from the best. 7b to % points
up.
The sun., 1919-08-22
EXCHANGES DROP HITS BANKS.
Losses to Chicago Institutions Put
at 100000 to 5000, 900.

CHICAGO, Aug 21.-"A very large cur
tRilment in foreign exports has been
caused by the advanced value of the dol
lar in Great Britain and France. Ar
thur Reynolds, vice-president of the Con-
tnental and Commercial National Bank,
explained to-day. The value of the
pound sterling is SO low that 1t takes
considerable percentage above par for
foreign buyers to purchase commodities
they formerly bought"
1t was explained that Chicago banks
lost between 100000 and 100000 yes
terday in the drop of English money, ac-
cording to reports here to-day. This
loss it was said, is the difference in the
value of drafts at the time they were
deposited by American exporters and
their value when paid by foreign i'm
porters.
Mr.. Reynolds said that any reduction
in exports from the United States would
tend to reduce prices here.
up until the announcement several
days ago that crops would be consider
ably less than estimated It was felt that
food prices would be materially reduced"
said Mr.. Reynolds, but now that condi-
tion has changed"
The sun., 1919-08-22
INDUSTRIALALCOHOLI
WILL DOUBLE STOCK /
Holders to Vote on Proposal
to Increase Capital From
~ to "a Millions.
NEW METHODS PLANNED
Common Stock to Extent of
100000 Shares Will Also
Be Sold by Company.

The United States Industrial Alcohol
Company announced yesterday its long
awaited plan for new financing by ask
Ing stockholders TO authorize an increase
In the capital stock from ola, 000, 900 to
S24oo0,o00 and tho sale OF 10000 addi-
tlonal shares OF common stock share for
share 20 present stockholders at $40 a
share. Contrary to rumors OF a forth
coming cut in the rate the board de-
clared the regular quarterly dividend of
81 share.
After yesterdays meeting the board of
directors issued this statement:
AT a special meeting Of the Board Of
Directors OF the United States Industrial
Alcohol Company, held to-day, II was re-
solved to call a special meeting Of the
common stockholders OF the company on
the seventh day of October next for
the purpose of authorizing the Increase
of the common capital stock OF the COM
peny from sl2.0O0,o00 to S24 900, 900,
and. further, to authorize the sale OF tho
additional 10000 shares OF common
stock at $40 per share, giving the COM
mon stockholders of the alcohol company
the right 10 subscribe to the additional
stock, share for share. in proportion to
their holdings.
The chairman of the board explained
that the purpose Of raising this addi-
tional capital il the development OF new
processes and the production and mar.
keting OF the resultant products of the
alcohol company and its subsidiaries
As soon as authorised by the stock.
holders the development contemplated
will be Immediately begun.
when asked the question as to the
future dividend policy OF the company
the chairman stated that he saw nc
reason why the present amount of divi.
dend disbursement should not be avail.
able during the construction and develop.
ment period. This. of course, would
mean dividend at the rate of pei
cent. on the total common capital stocl
as increased"
The sun., 1919-08-22
RErTBYll IRoN 9 STEEL cOMPANY

PREFERRED DIVIDEND NO o.
At the meeting of the Board OF Directors
OF the Republic Iron & Steel Company.
held August goth, 1919, the regular quar-
tsrly dividend OF lhes OF tho Preferred
stock was declared payable october LIST.
1919 to stockholders of record SeptsmbsS
18th 1918. Books remain open.
COMMON DIVIDEND NO. II
At the meeting OF the Board OF Directors
Of the Republic Iron & Steel Company
held August goth, 1919, a dividend OF M
on the Common Stock was declared pay.
able November LIST, 1919, to Btookholdsrs Of
record October 18th, 1919. Books remain
open. RICHARD JONES, JR.. Secretary,
Atlantic Coast Line Railroad Co,
Interest due September /, 1919, on At
Iantie Coast Line Railroad Company First
Consolidated 40 Bonds will be payabls
at the once OF the UNITED STATES
TRUST COMPANY OF NEW YORK. No.
as wall street, New York. on or after
September /, 1919.
The transfer books Of saId ponds will
bo closed Angus, 20. 1919. and Fsopsnsd
wIITRED j. WORCESTER, s.srs..-sI
The sun., 1919-08-22
CORN STABILIZED BY
HIGHER HOG PRICES
Fluctuations Are Few, Pro-
fessionals Trading Dur
ing Seesaws.
OATS STEADY AT FINISH
Provisions Turn Strong on
Firmness in Hogs and
Tone in Grain.

Trading in corn yesterday was pro-
fessional and dull but steady, with little
nuctuation. The market has resolved
itself into a trading affair, buying on
the breaks and selling on the bulges. 1t
is believed that the bear news has gone
stale. outside interests have virtually
withdrawn.
Hogs, which have been one of the
main supports of the market. helped to
steady prices when they showed good
advance Reports from Kansas told of
damage by drought and this heartened
the longs Shorts covered quite freely.
Prices were under pressure due to sell
ing by the professionals and advices OF
favorable weather, with beneficial rains
in Texas. Early weakness in the secur-
tiles market had a depressing effect on
grain.
Corn was nervous and irregular In the
first hour, opening steady only to decline.
Selling was checked when the exchange
market failed to break again. Cash corn
was strong, but the demand was quiet.
Offerings were small and the buying was
scattered. The trade Is mixed In corn.
All indications are that the movement
in old corn will increase, and then too
new corn is coming to market from
Texas. Economic conditions as a whole
cannot be described as favorable. so that
traders DO not feel inclined to expect
any materially higher prices unless the
situation changes radically.
Oats were irregular the greater part
Of the day, but steadied toward the close.
The oats trade Is feeling the lack OF OK
port business more than the others.
Price changes were small and narrow.
Improvement in foreign exchange and a
better cash demand caused some cover
ing. Profit taking and bear pressure
were heavy. however, and prices soon
sagged back. Rain has delayed harvest
ing in some sections, but for the most
part It is progressing rapidly.
Provisions were dull and strong
strength being due TO f,rmness in hogs
and the steady tone in grain.
Local quotations on grain. &C.
wHEAT--A marked increase In the eX-
| port movement Of wheat to Europe Il
| looked for soon. Wheat Is arriving at tbs
seaboard from the interior in steadily in
| Grain Corporation has taken about so pei
| cent. of the available freight room for
| moving It, Latest crop accounts from
| crops In Germany are the best for a auin-
| Der of seasons and compare favorabiy with
the pre-war outturn.
NO o9H whits a, ,s ei0S 9. I. Ss% York.
white sac. No WINE at sic. ali nom
''f RY E f,irt'' No. , western. 1851 Z. {
BARLEY Easy. Feeding. ti.": malt
INF hEuss lsN Nss rHyk steady Sound
milling. $3.50 c. T. New York.
HAY--Barely steady, No. !. 81 to s1.os
No 2, ti.s5 TO Nss; No. 9. sl.66 to $40
| shipping. Si.so TO si.to.
sTRAw-DulL No. l rye. ga ton
The sun., 1919-08-22
LOAN DEMAND GOOD IN LONDON
Discount Market 1. Firmer--
More Japanese Bonds bought.

More Japanese Bonds bought.
Special Gable Despatch 10 TIE Sun from the
London Times serpice. 90.
Copyright. 1919, all rights reserved
LONDON, Aug. 21.-There was good de-
mand for loans at per cent. in the
early hours to-day, money being with
drawn from the market, possibly In con-
nection with the call on the new funding
loan, which fell down. Toward the close
balances were offered at higher rates
The tendency in the discount market
was hrmer at the outset, some houses
refusing work at under a as rate, but
an inquiry for bills sprang up later.
The tone of the stock market was less
unsettled. although tho course of prices
was again erratic. The War Loan was
dull and interest In the foreign market
centred in French loans, which declined
further u to 10 for the IS and 81 for
the new Is, Russia pcr cents 1892
bonds were marked down and Greek
funding fell 1 to 81. Over two dozen
Argentine and CHILEAN bonds were
marked down a point. Slamese AZ per
cents. were " to lower, but there were
again buyers OF Japanese AZ per cents
Moscow-Windau 4 per cent bonds were
sold at 2S, fall OF 8. Argentine rail-
way stocks held their prices. Soroca
Bana bonds rose a further 2, but Sac
Paulo reacted point, closing at 1885
Inc New York exchange recovered to
SISSY, the finsl rate being the highest
or the day. Paris, after touching "a
francs 10 centimes,. closed at IS francs
30 confines. There was also a slight
Improvement in Belgium to 35 francs
81 centlmes. The Ira deprecated and
a further Improvement in the peseta was
recorded. Switzerland went in our ia
vor. closing at 20 francs s2.5 centimes.
scandinavian rates were again mostly
lower. There was large business In
German marks, which deprecated fur
Their, closing at 5000 to the pound.
The sun., 1919-08-22
COFFEE MARKET.

The coffee market opened steady yes
terday 10 TO l5 points up. Later gains
sent prices at one time IS to 80 points
higher than Wednesdays close. with
trade interests buyers, influenced by
bullish cables from Brazil reporting a
damage to the crop by frost, estimated
at 20 to 80 per cent. The market
dropped off sharply later on much lower
Santos ca bles and a slightly easier cost
and freight market Final prices were
net unchanged to an advance Of three
points
The sun., 1919-08-22
NEW PRODUCE EXCHANGE PLAN
Vote VIII he Taken on Placing
Quotation Board In Bniiding.

Acting upon the petition Of 100 MEM
bers, the Board Of Managers of the
New York Produce Exchange is taking
vote on the advisability Of establishing
a board for The posting Of stocks. cot
ton, coffee and sugar quotations on the
floor. II adopted, these quotations will
be for Information purposes only, as are
other figures posted from the various
markets
No trading in these various commodi-
ties will be done on the floor OF the
EXCHANGE
The sun., 1919-08-22
Exports From New York.

Wheat, 1869 blu. oats. 17o,1ol blu.
rye, 5s,512 bu.; barley. 1920 bp.;
malt, 1875 bu. peas, 1872 bu. beans
1900 bu.; four. 169,411 sacks; rye
-four, 8,s7i bills corn meal, S,94o bills. I;
pork, 1877 bbls, beef, 90 bbls. 4; bacons.
764.4o0 lbs lard, 42,S4o lbs. \ butter.
124,47s lbs. cheese, 14,440 lbs. lubri-
eating oils, 2e4.250 gals.
The sun., 1919-08-22
CALUMET AND HECLA DIVIDEND

BOSTON. Aug 2l.-Directors of the
Calumet Hecla Mining Company re-
sImed dividend payments to-day through
tie declaration OF a distribution OF Sc
a share payable Sept 20 to stockholders
OF record Aug. rs. The disbursement
constitutes the FIRST dividend since De-
cenber. 1913, when SIS was paid
Dividends were discontinued In the
first quarter OF the current year be-
cause OF depression in the copper In
dustry.
The sun., 1919-08-22
<Bank of England Statement.

LONDON. Aug. 2l.-The weekly state
ment of the Bank OF England shows the
following changes: Total reserve in
creased 100000, circulation decreas ed
f2es,00o. bullion decreased fls065,
other securities Increased fl.7s2o00,
public deposits increased f942,0 900, other
deposits increased f6,o62. 900, notes re-
serve increased f239,0o0, Government
securities increased f6,o2s. 900. Proper
ton of reserve to liability, 2294 per
cent. last week. 2i,20 per cent Rate of
discount, 9 per cent.
The sun., 1919-08-22
PHILADELPHIA.


5000 ;SS9 P PSs yI.S b . s sS S s7N sI
The sun., 1919-08-22
PIERCE BUTLER & PIERCE
MANUFACTURING CORPORATION.
twenty ear sinking Fund &C., Gold Ronks

Due October 1, 1884.
Notice is hereby given that the under
signed, as Trustee under tho First Merit
gage, dated October !. 1914, securing the
issue of bonds above described, will, pur-
suant to Article of said mortgage re-
ceiye sealed proposals up to p. M
Wednesday, october !, 1919, for the sale
to II for account of the Sinking Fund at
price not to exceed 1853 OF par value,
OF sufficient Of said bonds to exhaust tho
sum Of $4,000; payment to be made from
funds TO be furnished by the said Corpora.
ton
Proposals should bs placed In scaled
envelopes addressed Tenders for Account
OF Pierce Butler & Pierce Manufacturing
the undersigned, at its main office, No.
100 Broadway, New York city. Tho under.
signed reserves the right to reject any or
all tenders.
EMPIRE TRUST COMPANY,
BY II, f. WHITNEY, Asst. Trust Onioen.
Now York CllN- Aur % 1h1a
The sun., 1919-08-22
BRAZILIAN COFFEE STATISTICS.
Continent Buys London Wool.

LONDON, Aug 20 (delayed) Offer
ings were $3.50 bales at the wool auc-
tion sales to-day Prices were steady
and unchanged except for low cross
breds. which were withdrawn. America
bought the best merinos and crossbreds,
but the bulk of the offerings went to
the Continent.
The sun., 1919-08-22
N. J. STANDARD REWARDS TWO.
t. j. Williams and J. A. doRett,
Jr., Elevated to Company's Board.

Two men, both OF whom started their
careers In subordinate positions with
the concern. were elected yesterday to
the board of the Standard oil Company
OF New Jersey, when the directors menu
bership was increased from nine to
eleven. T. ]. Williams, for several
years at the head OF tho company's
marketing activities, was chosen q
director, as was j. A. Moffett, Jr., Of
the younger men of the organization.
who came rapidly to the front during
the war when he filled the position Of
secretary of the National Petroleum
War Service Committee. s. B. Hunt, a
member of the board. was elected a
vice-president and George II. Jones,
also on the board, was made treasurer.
The sun., 1919-08-22
New Orleans Cotton Market.

New ORLEANS, Aug. 21,-Advanoos OF
moro than a cent a pound were made By
cotton to-day, chiefly on q covuSfnE
movement by shorts. A recession from
the high levels just at the close was iAid
TO reports Of freer offerings of spot COT
ton In south Texas. Last prices were ~
net gains of 6S to IS points. Closes
October, B0.5s; December, 5000; Jauu-
airy, 3O.71; March. 30.71; May, so.7G
Spot quiet, middling 80.3s.