davidaulloa/AmericanStories huggingface dataset:
St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-01-11
Statement of the
CONVICTION BANK & TRUST
COMPANY
Located at Covington. l.

Report furnished to the Examiner
of State Banks by the above Bank at
the close of business on December
81, 1918:
E. G. DAVIS, r. I'll. DUTSCH,
President Cashier
St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-01-11

Mrs. Chas. Barthelemy ana little
son, Clyde, returned Saturday nigh
from New Orleans after having spent
ten days there, she having returned
to look after her affairs. Her many
friends regret to learn of her depart
ure from Covington.
St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-01-11

Mrs NJ. NJ. Rhymes is the guest
of her sister, Mrs. NJ. n: PaIrlch'
Mrs, Rhymes Is from Pine Bur MISS
St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-01-11

Mrs. Jasper E. Nilsson and children
have returned from New orleans
after having spent the holidays Win
Mrs. H. r. Mcleod and family.
St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-01-11

Mrs. J. R. Wauguespeck and little
son, OF Houma, La, arrived Wednes-
day night to spend some time here
as the guests of Mr. and Mrs. E. F.
Watkins and family
St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-01-11

Judge T. NJ. Burns was New Or
leans visitor Friday.
St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-01-11

Miss Willie Olin has returned 10
New Orleans after spending the holl-
d,ys at her home here.
New-York tribune., 1919-11-15
Financial Items

Charles F.. Koth for many years asso-
ciated with the Continental National Bank
of Chicago, now the Continental & Com
mercial National Bank. and of the staff
of Redmond e. Co.. with which he was
connected six years before leaving that
establlshmert to organize the foreign de-
partment OF the present Irving Trust
Company. has been elected a vice presi-
dent OF the Hartman National Bank
Tho new Coca-Coa Company, which
offered its stock TO the public about three
months ago. now has approximately 2l-
600 shareholders Close to $4,000 900 OF
the stock was taken up by odd-lot buy
At a special meeting OF the Stewart
Warner Speedometer Company stock
holders approved the resolution of tn.
directors 10 exchange new stock Of no
par value for outstanding stock OF 500
par in ratio Of to I.
William A. Read & Co are Offering
s1.750,000 of an authorized issue of 81.
100000 Manchester Traction Light &.
Power Co. 3-year per cent couverti-
BILE gold notes at 9sA and interest. Pro
ceeds OF the Offering viii be used to re-
due January /. and for other corporate o
purposes.
Henry D; Hughes. OF Hughes g. DER.
has been elected member of the Pitts
burgh Stock Echange.
j. D. Campbell & Co. are Offering $3.50.
preferred stock of the Burk Pipe Lines
and Refining Company. The proceeds VIII
be used to retire a loan made by interests
identified with the Middle States OIL Cor
poration The Guaranty Trust Company
has been appointed transfer agent for the
issue.
The Guaranty Trust Company OF New
York has been appointed transfer agent
Of stock Of tho National Exploration Com
pany and the Livingston OH Corporation.
New-York tribune., 1919-11-15

Yoshinari Hawai-, secretary of the
Toxic Stock Exchange, who is in New
York studying the methods of the local
exchange, said yesterday that Japan
has been experiencing big bull specu-
lation similar to that which ended so
abruptly here this week. Transactions
on the Toxic exchange, however, have
not reached the enormous figures of
the New York exchange, owing prin-
cipally to the fact that the number Of
issues traded in are fewer and that
the bulk of the orders to buy or sell
stocks are handled by only eighty
brokers, whereas nearly all the mem
bership of LOO on the "big board" is
at present active.
"There are approximately 200 differ
ent stocks and bonds traded in on
the Toxic Stock Exchange" said Mr..
HAWAI-, "while transactions this year
have been running at about 100000
shares day. The present unit of trad
ing is only ten shares, but this may be
changed to correspond to your 1OU-
share unit. Trading is carried on as
a rule between 10 and a o'clock in the
afternoon, but if it is deemed neces-
sar:' the trading period is extended
until later.
"The chief issues traded in on the
New-York tribune., 1919-11-15
Japan, Too, Has Had
A Big Bull Market
Secretary of Toxic Stock Exchange, Studying Mefh'
ods of Local Market, Says Wild Cyrations Are
Prevented by the Monthly Settlement System

Japanese exchange are steamship, stes1
and cotton mill spinning shares. In
stead of trading posts. which you have
on the New York Stock Exchange, we
have three different platforms, which
indicate the importance OF the various
issues.
"Our system Of settlements corre.
spends to the French, and the Toxic
exchange is regulated by the jap
anese government. This means that
in the event of a failure of one
Of the member brokers the government
assumes his liabilities. Great care is
taken that the broker is of high stand
ing before he is admitted, and he also
operates under a government license"
Mr.. Hawai-, commenting on the re-
cent wild fluctuations of the call
money rate here, declared that on the
Toxic exchange such gyrations do not
occur because of the system of set
Elements, which take place monthly,
bi-monthly and tri-monthly. He said,
however, that the Japanese system Of
settlements may be shortened prob
ably to correspond to those in vogue
on the European bourses.
Prices Of memberships on the Toxic
Stock Exchange, its secretary said.
have risen in the current year from
$4,000 to 100000 each.
New-York tribune., 1919-11-15
Kayser & Company Report
S625.682 Surplus in Year

For the year ended August 81, 1919.
julius Kayser & Co. report net profits
after Federal taxes Of s1,455,s32.
equivalent after preferred dividends to
$19.94 share earned on the $685. 900
outstanding common stock, which conn.,
pares with s1,585,6 or s21.82 share,
on $6,58O, 900 common stock in the year
before. First and second preferred
shareholders received s14O,2s8 in div
idends, while the common stockholders
shared 1927 200 in disbursements. After
redemptions of S162,682 on the pre-
ferred stock had been made surplus
was s625,682, or $9O,754 less than the
year ended August 81, 1918.
New-York tribune., 1919-11-15
Japan Taking Gold
From United States

japanese banks are apparently con-
vertlng part of their securities in the
United States into gold and withdraw
Ing the metal from this country. 1t
was reliably stated yesterday that over
s5O,00O,0OO had been withdrawn for d.
rect shipment to Janan since the en-
barge on gold exports was lifted June
8. One Japanese banker said yeste rday
tha this house has been shipping gold
recently at the rate of about 100000
week for some time past. Of re-
cent shipment to the Orient of over
$lo,O00,0o0 Japan received $1O,OOo,OOO,
the remainder going to China.
The total of the Japanese balance of
credit in this country created by the
war Is estimated at we'll over half a
billion. 1t has been assumed that the
Japanese government opposed the i'm
portation Of gold in payment, believing
that country was already suffering
from an oversupply Of precious metal.
Japanese banks have invested largely
IN American and foreign securities in
this market, and lave generally re-
ported that their policy would be to
keep their credit balance on this side
intact.
The balance Of trade with the United
States Is still in favor OF Japan, al
though our exports TO that country
have been steadily increasing in pro-
portion since the armistce,
The greater part of our tremendous
gold shipments have gone to China and
India to supplement our shipments of
silver, which Oriental banks have not
been able to obtain In su Is cient guam
tity to satisfy the needs of coinage.
Much of this metal finds its way from
the commercial c<1ters up the river
systems to the interior, where it is
boarded by the natives and even used
as Jewelry. Consequently it disap-
pears from circulation, and so far as
the worlds credit system is concerned.
is as good as lost.
New-York tribune., 1919-11-15
Coinage Not
Threatened by
High Silver Price
America Is an Exporter of
Metal and Bankers See
the Benefits to Country
in the Rising Quotations

Bankers have expressed the opinion
that the high price Of silver should be
regarded with satisfaction rather than
alarm. The United States is the
worlds principal producer Of the
metal and the principa exporter, and
is relatively small consumer. Most
of the buying at current high levels is
for export to the Orient, and the small
domestic consumption by jewelers. is
considered relatively unimportant. The
government is supposed to have sufi-
cicnt metal on hand for coinage pur-
poses.
Should the price of silver be main
tanned slightly above its present level,
it is considered highly improbable that
the government would find it necessary
to follow the example Of England in
placing an embargo on silver exports
to conserve the supply, reduce prices
and prevent boarding.
The danger of melting silver dollars
by unauthorized private persons in this
country is considered slight, for several
reasons. The number of silver dollars
in circulation is very small The
pocket circulation of silver certificates
emitting the holders to silver coin has
also been reduced by the general sub
stitution of Federal Reserve notes
Most of the silver dollars in the coun-
try are more or less worn and prob
ably would not pay the expense Of re-
melting unless the price of silver
should rise to a point several cents
higher than the gold parity of the dol
lar.
The melting of half dollars does not
need to be considered until the price
of bullion is greater than S1.35 an
ounce, at which figure the intrinsic
worth Of the metal is equal to the face
value of the coins. The proportion of
silver in dimes and quarters is even
less, and their gold parity is around
S1.38.
The gold situation bears an interest
ing relation to the silver market.
Large quantities of the yellow metal
are being exported to India and China
as substitute for silver in order to
satisfy the great demand of the Orien-
tai systems for metal coinage. Our
gold exports to those countries and
Japan have grown to such proportions
that some bankers are discussing the
advisability of placing an embargo on
gold shipments from this country. To
on the white metal. One authority ex-
pressed the opinion that an embargo on
gold exports would cause the price of
silver to rise to $3.50.
The last Treasury statement shows
total of 226,284,983 silver dollars in
it's depo sitaries. Of this amount $685.
850,117 is held against silver certif-
Gates and $1,709,093 against Treasury
notes. The number of available silver
dollars in the general fund is $685.
773.
New-York tribune., 1919-11-15
Stocks Ex Dividend
Cranky Mining Reports
Deficit for Fiscal Year

AS result of operations in the fiscal
year ended June 80, 1919, the CRANKY
Mining Company shows deficit Of ST.
296,946, falling off from the preced-
ing year of S2,324,O37.
Gross earnings for the year amounted
to S6,56i,o i,o99, decline of $5.083,211.
Operating expenses were s6,6so,o
interest, etc, $l2o,8S4, and deprecia-
tlon s164,57O, causing loss of $984, 400
ceived S1,312,537 in dividend disburse-
ments, bringing the total deficit tn
S2,296,946. Previous balance agra
gated S3,421,355. After the loss for
the year had been deducted a surnlns
of $1.124,409 remained N-'
New-York tribune., 1919-11-15
California Petroleum Earned
$5.65 a Share in 9 Months

The California Petroleum Corpora-
tion reports a surplus after charges.
depreciation and Federal taxes for the
nine months ended September 80, 1919,
of S 1,489,221, equivalent after preferred
dividends at the rate of per cent per
annum had been deducted to $685. a
share earned on the Sl4,877 ,O55 common
stock, compared with $1,446,7O7, or
$5.37 share, in the corresponding 1918
period.
Gross earnings in the period totalled
$3,452,591, an increase of 1927 ,665 over
the same months of the preceding year.
After operating expenses, net was ST.
44O,095, decline of $5,191. After de-
probation, bond interest, etc, surplus
was Sl,4o9,221, an increase Of $42,514.
New-York tribune., 1919-11-15
New Security Offerings

Investment houses are preparing to
bring out several new issues early next
week. Among these are an offering of
s4,50O,000 two-year per cent notes
and a preferred stock Of an industrial
concern. The note issue will be han
died in this city by Bonbright & Co.
and Montgomery & Co., and in Chicago
by the Continental and Commercial
Trust and Savings Bank. So far as
the bond market is concerned, invest
ment firms find little change in the
situation that has prevailed for weeks.
They are hopeful, however, that the
break in the stock market will influ-
ence those who were able to take profits
to put them in more stable securities.
New-York tribune., 1919-11-15
In Wall Street
"What DO You Think of the Market?"


The president Of leading ma
tional bank:
"Speculation for the rise may have
been overdone, but most stocks at pres
ent prices are not selling above their
real values. They have the assets.
earning power and prospects Of big
future business behind them. The ef-
fort to force contraction Of banking
credit by precipitating q stock market
break of disastrous proportions was i'll
conceived and carried out in a bungling
manner. 1t looks very much as if the
public has been scared out Of this mar
ket and lower prices will be in order
the remainder Of the year, at least so
far rs industrial securities arc con-
cerned. There is no reason, however,
for alarm on the part Of holders of
seasoned stocks. They represent valu-
able equities"
New-York tribune., 1919-11-15
Paris Market HEAVY

PARIS, Nov. 14-Prices were heavy
on the Bourse to-day. Three per cent
rentes, go francs 25 centimes for cash.
Exchange on London, 80 francs 40
centimes. Five per cent loan. SO francs
AZ confines. The dollar was quoted
at . francs 62 centimss.
New-York tribune., 1919-11-15
The Dollar in Foreign Exch. nge

German exchange declined to a new
low record yesterday when marks sold
at 2.6O cents. The previous low was
2:76 cents. Dealers reported fairly
large offerings, with practically no de-
mand excepting from spectators.
Exchange on London was weak at
SAIL A for demand sterling bills, while
French exchange fell to new low, or
$50 francs to the dollar.
New-York tribune., 1919-11-15
London Money Market

LONDON, Nov. 14.-Money, 21s per
cent. Discount rates: Short bills. b5a
per cent. Three months bills, 5N per
cent. Gold premiums at Lisbon. l40,
New-York tribune., 1919-11-15
ANDREW J. MCCORMACK. AuctionesA
REGULAR AUCTION SALE
STOCKS AND BONDS
By ADRIAN ii. MULLER s. SON,
OFFICE. 55 WILLIAM ST.
WEDNESDAY, NOVEMBER 18th 1918.

"A K AUCTION SALE
STOCKS AND BONDS
BY ADRIAN II. MILLER s SON.
wEpSHspaaEE. SaHHI,aE. XoVtHnn & WlNiIAM ,s1h sr 1914
at $50 O'Clock. at the
EXCHANGE SALESROOM,
NOS. Il AND IS VEsEY STREET.
BY Order OF Exec utors:
10 shs. New York Lifs Insurance =
Trust Co.
BY Order Temporary Administrators.
so shs Mortgage Bond Company.
For Account OF Whom II May Concern:
l2o shs United Engineering 81 Con-
tracing Co. common.
100 shs L. s. Mortgage & Trnst Co.
1,oo0 shs. Railway Storage Battery Cas-
Co. common Trust Ctfs
z'sSd sSa shs @ The Permutit Co. common
$4,000 Hortonia Power Co Ist MtgA -
Bds., l945.
rs shs Merchants National Bank
20 shs Bond Mortgage Guarantee
Co.
$4,000 Kings Kings County Electric Light.
.. Power Co. Convt. oee Bonds. s25.
$4,000 Peoples Gas Light & Coke CO.
Chicago lst Consld. Mtge. So
Ronds. 1919
1856 shs. The Permuttt CO common
200 shs. The Pernutit Co prefd
Soo'Voo Detroit. Toledo & ironton K. r. -
Adjustment Mtge. 50 BIDS. 1954
900 shs. Detroit. Toledo & Ironton r. r.
prefd.
4sO shs. Detroit, Toledo & Ironton r. R.
100 shs. Redden Motor Truck CO. Inc.
eVO shs Edith Mining Co
sVo shs- Green Monster Mining Co.
.Oo sns Alaska j uneau Gold Mining Co.
-, .o3 sns Chicago Elevated Rway prefd.
s5S.ioo Chicago Elevated AWAY 90 Deb.
BIDS.
$50 900 Chicago Elevated p.wav So Bda
(not extended)
90 shs. lnterOceanio Steam Naviga-
tion.
sls.5oo Maxim Munitions CORPORATION 81
Cold Bonds dated Nov !, 1919
with all subsequent coupons.
$''ooo Mohegan Granite Co. SO Ntge.
lSON0S. f1er
pons on.
$937b0 Mohegan Granite Co So Deb. Bd.
10 shs. Mohegan Granite Co.
$1,000 Bern.ce Anthracite Coal Co OF
Penn. ist Mtge. 90 Bond. due Sept
1924.
IS shs. Heine- Myer OIL Co.
20 shs. Pershing OIL q Gas Co
$4,000 Peoples Gas Light Il Coke Co.. Che
cago. lst Consld. Mtge 6S Bonda
1943.
shs. Electric Investment Corpa Z
common.
New-York tribune., 1919-11-15

Bank CIearings-New York: Ex-
changes, $1,112,630.544; balances, $83,-
A01 ,575.
Treasury credit balance, $1,S58,487,
Federal Reserve credit balance, $63,-
835,316.
Silver-London, esd; New York
$1.24&; Mexican dollars, 98@1O2c.
New-York tribune., 1919-11-15
Rails Active

1t was big day for the rails. The
market in this department developed
great activity, and prices of standard
comparatively heavy buying. Wall
Street looked upon the developments in
Congress with regard to railroad leg
islation as embodied in the Esch bill as
being constructive and promising.
With traders wary about buying and
selling the industrials after such a
wild market as has been witnessed this
week, it was only natural that activity
should be transferred for the time
being at least into the railroad de-
partment, particularly when the rails
have been neglected SO long. During
the break in the industrials on Wednes
day railroad issues held rather firmly.
Yesterday they were moved up easily.
New-York tribune., 1919-11-15
Dividends

Standard Oil of Ohio In addition to
regular quarterly as listed below, an ex-
ira or II has been declared. payable on
same dates as for the regular
Rate and HoIdars
New-York tribune., 1919-11-15
Favor Railroad Collateral

Around the Street it was asserted
that the banks were disposed to treat
loans on railroad collateral much more
literally than all industrial loans
That in itself would make it worth
while to the brokers to divert specula-
tive activity into the rails. Among the
strong rails we're St. Paul, Norfolk e.
Western, Reading, Delaware, Lacka-
wanna e. Western, Louisville E. Nash
vile, Union Pacific and Atchison. There
we're times when the rails were booming
that the market brought to mind the
pre-war days, when the industrials were
generally kept in the background.
New-York tribune., 1919-11-15
Bankers Discuss Investment Trusts

Informal discussions are going on
among bankers regarding the advs-
ability of the formation of other in
vestment trusts similar to the Foreign
Finance Corporation, whose incorpora-
tion with s10,0OOOOO capital was an
nounced this week. The bankers feel
that the organization of numerous
small concerns Of this character to
purchase foreign securities will make
it possible for the country to absorb
much larger amounts of such issues
than can be sold directly to the Ameri-
can public. Incorporation Of trusts for
the purpose of handling specific trans
actions, such, for example, as the pur-
chase of a single issue of foreign gov
ernment securities, is held to be advis-
able by many of the bankers who are
directly interested in the matter Of
distribution of foreign issues here.
New-York tribune., 1919-11-15
Fulton Motor Truck Co.
Notice to Common Stock
holders

The Fulton Motor Truck Company
was placed in the hands OF a receiver
by order of the United States Dis
trict Court for the Southern District
.of New York on November 9Th. 1919
The undersigned have consented
to act as a Committee for the pro-
lection OF the interests of the hold
ers of the Common Stock of the
Fulton Motor Truck Company.
Stockholders are requested to de-
post their stock with the Central
Union Trust Company, depository.
80 Broadway, or their branch Office
at Madison Avenue and And Street,
n. Y. City, on or after November
18th and before December lst, 1919.
Certificates OF receipt will be issued
therefor b. said depository. There
will be a charge of 10 cents per
share to cover the expenses OF the
Committee, payable to the Central
Union Trust Company at the time Of
deposit.
New York, November 14th, 1919.
THOMAS MORTLAND,
DR.. HARRY B. OGDEN,
HENRY w. SOLFLEISCH.
Committee
Secretary, JAMES B. KILBURN,
o8 William Street, N. Y. City.
Counsel, REYNOLDS, RICHARDS
& McCUTCHEON, 6S William
Street N. Y. City.
New-York tribune., 1919-11-15
Money and Credit

Outstanding call loans were renewed
at the Stock Exchange yesterday at the
high rate of Ia per cent. This is the
rate that stock market borrowers must
pay until Monday, as there is no call
money market on Saturday.
The demand for money on call was
somewhat lighter than it has been on
preceding days of the week, probably
because Of the slowing down of specu-
accounts.
In the afternoon the call rate dropped
to 8 per cent, which was also the clos
ing rate. This compared with clos
ing rate of per cent on Thursday.
The ruling rates for money yester-
day, compared with year ago, were
as follows: Per cent
New-York tribune., 1919-11-15
Betting on the Call Rate

Wall Street has a new pastime of
betting on what the opening and re-
newal call money rate will be. Yester-
day there were a number of wagers
that it would be at least as low as 10
pert cent, contrasted with Thursdays
renewal rate Of 16 per cent. 1t was
argued that the drop in the rate late
Wednesday meant that the banks had
more funds to lend, but this was not
borne out by the facts, SO considerable
surprise was expressed when word
came from the floor that call money
was lending and renewing at Ia per
cent. After the bulk of the days loans
had been negotiated at that figure the
per cent, and this was followed by
sharp rally in prices. Before the close,
however, there was another dip, and
large part of the gains of few mo-
ments before were soon wiped out.
New-York tribune., 1919-11-15
Short Selling Not So Profitable

Short sellers, who reaped harvest
in profits on Tuesday, Wednesday and
Thursday, found it more difficult to
depress values yesterday. Stocks like
Crucible, Baldwin, Republic Steel and
the motor shares, which, on the pre-
ceding days Of the week yielded easily
under bear pressure, seemed to find a
level under which it was difficult to
drive them further. AS consequence,
many traders, when they took account
of the days transactions, learned that
they had barely broken even, or else
had little to show either in a profit or
loss.
The sun., 1919-10-02


Julce makes against tne relerencs 10 n1
.unoerstanaings elea.y iaass
. me-, .smpntude puts them IN 'nc ,ontSes
WIN tne pSuai e1trenhuss VI al sS a. .h
overshoe. -
oMhhe MT Jacques 1lu hot "y'nuy1Ih
the bsnssnI bsverevs ~ that mama whieN
4. - nnIe,i ~ - ~ 49,, a. a., ,sr.t
naow,,ar tbat th a. IN di,TH,ai at go nsN
on the oyeraboe' and ~ would be u1i-
yarsaiIy rseretted h ~ III ~ reSar, - tsnH
and Gun e II another @ aellTStfel 'GeoS~S
Enrland' or .;James Rohart c,'Ne,r' mv2.
tery thus had been pu mStvr at the Vss
start by the Mystery himself Nv
II Grape Juice" will but visit Beach
Haven next week 1t will be a pleasure ~
invest him with some real authority -.fa-
SWITCH REEL :
Asbury Park Fishing Club Sept. 80.
t OF oid Timers Lures Fish
While on the M. ]. Il. III. Sunday I
noticed that 'iold timers like Shorty. Bill
COBB and others made record catches of
ing. whiting and cunners with bait Of
their own. while the rest with the bait
supplied by the skipper pulled out only
occasionally hsh;
WI some of the "old timerS' kindly
zen the writer, an apprentice at deep
| sea nshlng, what bait to bring along in
or1er 70 make ike catchesf saw hsh
pait anu SOFT Grams where - TINS nsn
oa,t lot SAFE AUG. T. SNYDER.
T..