davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-11-26
General Motors
Leads Advance
In Motor Shares
Industrial Specialties Rise in
Irregular Market as Re-
suit of Pool Operations
and Short Covering

Led by a spectacular advance in Gen
eral Motors, which closed with net
rise of 27ia points, after having sold
Sc points above the low price recorded
during the recent crash, some indus
trial stocks scored substantial gains
yesterday. 1t was noted, however, that
the greatest advances were made by
the stocks of which floating supplies
are small and which, therefore. are
most easily moved The action of the
market Indicated that coal operations
were PLAYING an important part in
dealings. Heavy covering by those who
had sold short in anticipation of the
decline also contributed to the strength
of the specialties.
Motor shares were most prominent
both in point of activity and breadth
of fluctuations Pierce Arrow, Stude-
baker, Stutz, Chandler, Republic Motor
Truck and Maxwell, all following Gen
eral Motors as centers of interest. The
accessory stocks also displayed
these shares was attributed in some
quarters to the fact that the outlook
for the automobile and accessory man.
ufacturing companies undoubtedly is
excellent. This explanation was, how
ever, not very convincing, since there
was an almost complete absence OF
public buying.
Aside from the general strength of
motor shares and a few other indus
trial specialties, the market was irreg-
ular. Losses about balanced gains at
the end of the day. The steel and
equipment groups displayed considerable
strength at times, but weakened be-
fore the close and in most cases sus-
tanned fractional losses. Copper shares
again were under pressure, with Ana
conda especially weak. Sales of the
metal were reported as low as 19 cents
pound, which, combined with the
uncertain outlook for exports of the
metal, was sufficient to account for the
decline of this group.
Money again loaned and renewed at
per cent, but this did not seem to be
an important factor, inasmuch as trad
ing was not heavy enough to bring
about any substantial increase in the
demand for funds
The bond market continued to show
the effects of liquidation, Liberty issues
being particularly weak. Victory notes
went to a new low record. Traction
bonds also were sold heavily and dis
played great weakness as result.
Much of the selling is said to be for
the purpose of establishing losses in
making up income tax returns. If that
is so, the bond market should recover
when the selling pressure has subsidized
The foreign exchanges, after show
ing considerable strength, dropped a
little in the afternoon.
New-York tribune., 1919-11-26
[. Nj. Nj. Control UNCHANGED

Referring yesterday to the announce
ment of an agreement reached by the
British subsidiaries of the lntcrna-
tional Mercantile Marine Company with
the British Admiralty making it COM
pulsory for English subjects to control
these companies, =. A. S. Franklin,
president of the American holding cor
poration, said that the pact had no
bearing on the control of the latter
company.
"The international Mercantile Ma
rine,' he added, "remains as it always
has been, distinctly American com
pany. Practically all the stock is
owned by Americans. This agreement
refers to the British subsidiaries, which
have always had British directors and
have been controlled by British man
agement. The agreement had the full
approval of the directors of the parent
corporation, and is considered extreme
ly beneficial to international Mercan-
tile Marine"
New-York tribune., 1919-11-26
b. & NJ. Receiversl1ip
May End in Few Days
Withdrawal of Objections Opens
Way for Discharge of
Receiver

BOSTON, Nov. Termination of
the Boston & Maine Railroad receiver
ship within a few days is regarded as
probable as result of the withdrawal
Of the objections of the estate of Sam
uel I. Lawrence in the Federal District
Court to-day: 1t was announced that
George l.. Mayberry, counsel for the
receiver, would present form of de.
cree dlscharging the receiver to-mor-
row. Before taking any action how. how
ever the court will hear Conrad c..
Crooker, counsel for minority stock
holders. Mr.. Crooker is expected TO
appear tomorrow.
W. Mayoerry explained to the court
that the decree which he would seeL
TO have approved would set forth that
the loan from the railroad adminjs-
tratlon on bonds amounting to approy;.
mately $4,000, 900. and the payment of
moneys taken when the railroad ad-
hlinislfarlon assumed control and
earned since then, amounting to an
rroXlmately 100000 would enahfo
the Boston & Maine to meet nract;ca;I', ,laGlv
all its Obligations
Counsel for the Lawrence estate
pointed out that the withdrawal Of
eolectlons to winding up the receiver.
snip was without prejudice N ,ba
right of the executors to have ~
questions raised by them determ;nnd
IN further proceedings if they deemed
it expedient. '''e
He filed memorandum. in which
ne stated that the step was taken
enleny because the executors of the
ss.a.e did not wish to appear in the
t,s"t ~ H., OF oDstructionists with respect
70 Ihe plan Of reorganization now
pending, the main details of vh;.1' n"I
they approve ""'e'
New-York tribune., 1919-11-26
Absorption

Absorption
Observers who have been watching
the market carefully since the smash
ing decline Of fortnight ago are i'm
pressed, they say, with the steady alb
sorption Of various of the Hetter grade
of industrial issues. Cash buying Of
such stocks has been heavy right along.
1t is believed to indicate confidence on
the part of investors that market
values are not too high espite the
bcarish Interpretation put upon the
action of the financial powers in
checking speculative activity. Large
blocks of high grade industrials have
been going out Of Wall Street for some
time past, much Of it being taken by
real investors in the interior who
have a surplus to put to work and who,
whether rightly or not, are not much
impressed over the outlook for bonds.
Silver Stocks StOlid
One of the market mysteries these
days is the failure of stocks of the sill
yer producing companies to respond to
the steady rise in the price of the
metal to record heights. Bar silver
touched $1.37 an ounce in this market
yesterday the highest yet. But silver
stocks did comparatively little despite
the fact that at the present market
price even the high cost silver pro-
ducers can turn out metal at a substan-
tial profit. Heavy shipments Of silver
to the Far East continue and the
American silver dollar is in demand for
this purpose since its bullion value is
now we'll over it's face or coin value.
New-York tribune., 1919-11-26
In Wall Street

.What Do You Think of the Market!"
A financier Of international repute:
"Selling the market short from any
angle is a perfect investment for
widows ard orphans"
New-York tribune., 1919-11-26
Regular Declarations

Pay holder.
Rate Period able of rec.
81 Nf Il LIN y H..
New-York tribune., 1919-11-26
Dividends
Extras

Auto Sales Corporntion.-An extra divi-
dend of l. per cent has been declared ON
the preferred stock in addition TO the
regularly quarterly preferred dividend of
Ia per cent. both payable December 81
to stoc kholders of record December l5
New York Transit COmpany-An extra
dividend of 81 has been declared, in addi-
ton to the regular quarterly dividend of
-. both payable January Is to stockhold-
ers OF record December 20.
Realty Assocutes.-An extra dividend
of > per cent. in addition to the semi
annual dividend of per cent both pay =
able January IS to Stockholders of record
January 5.
New-York tribune., 1919-11-26
Traction Issues Heavy

Local traction issues were sold freely
yesterday following the statements of
engineers that neither the Interborough
nor the Brooklyn Rapid Transit Com
pany is earning its fixed charges,
making a default of the next coupon
probable unless some measures are
adopted to relieve the situation before
that happens. Interborough Rapid
Transit first and refunding 5s went to
the new low record Of 45 and closed at
as Is. The Interborough Metropolitan
A iss got as low as 13, off points. B.
R. 7. stock was off 12s points at 1872,
while Interborough Consolidated, pre-
ferred, dropped to 1214, a net loss of
2A
New-York tribune., 1919-11-26
Securities Listed

The following securities have been
admitted to trading on the Stock Ex-
change, beginning to-day: Sl,398, 900
additional common stock of the Stand
ard Milling Company, 100000 shares
OF no par value common stock of the
Fisher Body Corporation. $2,722, 900
Gray & Davis. Inc, common stock, con-
slsting Of los'so4 shares of the par
par value stock of the Parish & Binp-
ham Corporation and temporary voting
trust certificates for 309,263 shares of
common stock of the Coca Cola com
pany.
New-York tribune., 1919-11-26

tionate amount OF registered subscription
warrants.
Directors Of the American Sumatra To-
bacco Company have voted to call for
payment on April l, 1920. at 105 and ac-
crued interest all outstanding ten-year
debenture bonds of the company. A large
part of the issue has already been con
verted into common stock and the re-
demption Of the balance OF the bonds w i'll
leave the company free from all funded
debt
William n Enstrom and George r.
Graves have been elected vice presidents
of the Irving National Bank. Northrop
Holbrook was appointed assistant cashier
and Robert w. kuebl. James c. Bradshaw
George Hclfrich and Frltz Hartman We're
eign department..
Martin s. Watts has been admitted to
partnership in the firm of w. G. Langley
& Co
Herbert II. Dean has been elected vice
president of tho Buffalo e SusQuehanu
Coal and Coke Company.
New-York tribune., 1919-11-26
Financial Items

Bankers Trust Company has been an
pointed registrar for the preferred and
common stocks of the Aluminium Manu-
factures Inc
Guaranty Trust Company has been ap-
pointed transfer agent of the stock Of the
Aluminium Manufactures. Inc.
On and after December I. 1919, the
trust department of the Guaranty Trust
Company OF New York will. upon presen-
tation and surrender of interim receipts
covering West India Sugar Finance Cor
poration secured sinking fund per cent
gold bonds. issue in exchange therefor the
defnittve bonds, together with a proper
New-York tribune., 1919-11-26
Silver Stocks Stolid
General Motors Meeting To-day

General Motors directors meet to-day
to act upon the suggestion of President
Durant for splitting up of the COM
mon stock capitalization by which ten
shares of new no par value stock shall
be issued for every share now outstand-
ing. knowledge that the meeting was
about to take place may have been the
reason behind the spectacular advance
yesterday in the common stock, which
sold as high as 1856 and closed 271a
points up at 3641a The new "when
issued" stock on the curb got up to 40
and closed at 80, the equivalent of 800
for the present stock. General Motors
at its high yesterday had recovered
nearly 80 points of its loss sustained
during the big break of two weeks ago.
New-York tribune., 1919-11-26
Money and Credit

The market for Stock Exchange credit
continued on an even keel yesterday.
Rates remained unchanged throughout
the session at 7 per cent, which was
also the figure at which outstanding
call loans were renewed. The demand
for call money was reported to be
fairly heavy though, of cotrse, much
lighter than few weeks ago, when
the speculative activity in the stock
market was absorbing SO much money
AS matters now stand the supply of call
money offered by the banks is ample
to take care of present market needs
This would not be true, however, were
speculation to be resumed On the re-
cent active scale.
The ruling rates for money yester-
day. compared with a year ago, we're
as follows: Per cent
Yester- Year
Call money: day ago.
On mixed collateral. ! 6
On industrial collateral. 7 6h
Time money (mixed collat-
eraD:
Sixty days. 6
Ninety days ys........ 6
Four months. hs............. 6 6
Four to six months. .. 6 6
Bank Clearings New York, ex-
changes, $1,o49,675,667; balances, $685.
947,O38
Sub-Treasury - United States Sub
Treasury credit balance, $991,252 Fed
eral Reserve credit balance, $56,742,-
SA5.
Silver - London, 7ed; New York,
Sl.o| 12; Mexican dollars, $1.05h.
New-York tribune., 1919-11-26
Pierce Arrow Rumors Denied

The shorts in Pierce Arrow were
given further punishment yesterday
when the stock was run up 1925 points,
following an advance of "a Monday
and of over points last Saturday
making q rise of over 81 points in the
last three trading days, one of which
was of only two hours duration. The
usual rumor concerning General Motors
buying for control was circulated but
as on previous occasions they met with
official denals. Pierce Arrow di-
rector said: 81 have been informed by
General Motors interests that they
have not been buying into Pierce Arrow
nor have they any intention of doing
So Our company is still in the tran
basis and earnings are still substan-
TALLY below those Of the war period
when they were enhanced by the manu-
facture of large number of trucks
for the government. Based on real
conditions I should say that so was
plenty high enough for the common
stock" The closing price yesterday
was SS7s, at which figure Pierce Arrow
showed a recovery of about 80 points
from the recent low
Europe Buying Copper in Small Lots
The price of copper continues to dis
play a sagging tendency and quota
tions of 19 cents a pound We're made
yesterday contrasted with the recent
price of 1919 cents. Producers state
that some copper is being sold to
France. England, Belgium and Ger
many but not in sufficient quantities
to affect the price. 1t is acknowledged
that this buying is not of very big
proportions, but il is believed that
the movement coming at time when
the metal is suffering from q lack of
domestic demand indicates that for
eign buyers are ready to talk business.
Booking Steel Orders for 1920
Latest reports from its subsidiaries
indicate that 92 per cent of the en-
ployees of the United States Steel Cor
poration are back on the job. At pres
ent the corporation is operating at
about 85 per cent capacity, which is
rather high figure considering the de
moralizing effect on production gen
orally of the labor upheaval. The
corporation. it was learned yesterday.
is going ahead booking business for
1920 delivery at the prices fixed under
the old agreement with the industries
board. The average price for steel
products under that agreement was
around $63 ton: 1t is understood
that the so-called independents are
booking business for next year delivery
at SO to SIS above the Corporations
Offering basis.
New-York tribune., 1919-11-26
The Dollar in Foreign Exchange

The foreign exchanges declined yes
terday, following their recovery the
closed at s4.o5A, compared with 4.069s
on Monday. Francs were lower at 9.72
to the dollar, Austrian crowns got down
to 70 cents hundred, while German
marks were quoted under PA cents.
Dealers said the market had rallied
on purchases by spectators, and that
as soon as that demand had been sat
isfied there was little support. Offer
lngs of sterling bills continue heavy.
Yesterdays rates, compared with
those of year ago, follow:
New-York tribune., 1919-11-26
Transactions Yesterday i'm Listed Stocks
Summary of Stock Exchange Dealings
Stocks

Copyright. 1919. New York Tribune 1nc,>
Pine Bluff daily graphic., 1919-04-15
ARE
 ADOPTED TO FIX
 SPOT QUOTATIONS
Recommend All Quotations Be Based On Bona Eide
 Transactions.

Memphis, Tenn, April 14.-Resolu- tions proposing uniform method of fixing spot cotton quotations on which differences in the contract markets are to be based were adopted at the meeting here today by repres- entatives of the ten designated spot markets. The resolutions will be submitted to each of these exchanges for action, and, if adopted by a ma iority, the system will be put in eff feet August 1st.
 The resolutions recommend that all quotations be based on bona fide transactions in middling spot cotton, government standard 7-8 inch staple. and that daily quotations be made at the closing time of the New York and New Orleans contract markets based on the average of prices reported by buyers and sellers to the various ex- change superintendents since the previous close of the central market. Buyers and sellers would be required to report daily to the superintendents all purchases and sales with prices of each grade and, if the purchase or sale is of average grade. the approxi- mate value of each grade. The super intendent would be required to report to the quotations committee an aver age price of the various grades trad ed in and the number of bales in- volved. The committee is given the power to determine whether the total transactions are large enough for basis for quotations, and, if not, to obtain from the superintendent an average of the bid and ask prices for each grade on fifty bales or more Any sales of spot cotton which the committee might consider made to influence the quotations or which do not represent the true market value would not be considered in striking the average. In basis transaction, it is provided, the buyer and seller must agree, to get the average quotations on the approximate amount of each grade involved.
 In addition to delegates from the ten designated spot markets. the department of agriculture and the New York cotton exchange were rep resented. The spot markets are sit uated at Norfolk. Va; Augusta and Savannah, Ga.: Montgomery. Ala; New Orleans, La.; Little Rock, Ark; Galveston, Texas; Houston and Dal- las, Texas and Memphis.
Pine Bluff daily graphic., 1919-04-15
GOVERNMENT WILL PROBE SHOOTING
 OF , AMERICANS
Report Mexican Bandits Also Robbed Paymaster
 Of 15,000 Pesos.

Washington, April 14-The state department today ordered thorough investigation of the shooting of two American citizens by Mexican bandits in the Tampico oil district and the robbing of a paymaster of the Huas- tee Petroleum company of 15,OOO pesos. The attack which occurred April 10th, was reported today to the department.
 George De Haya, pipe line super intendent, was shot through the neck, and Frank Willis, construction engineer, received serious bullet wound in the shoulder. A Mexican who was member of the party was killed. The dispatches describe the attack as having been made near Rivera. at which point the federal garrison for the TampicO district is stationed. The commander of the garrison, according to the dispatches, was asked to assist in the capture of the bandits but replied that he did not think it possible to apprehend them.
 The attack reported today, makes total of 15 Americans who have. been wounded or killed by bandits in the Tampico district. Seven of the number were killed. The oil com panies recently asked permission of the Carranza government to use air planes in carrying payrolls to their various camps, but this permission has not as yet been granted.
Pine Bluff daily graphic., 1919-04-15
LOCAL POWER PLANT
 GETS CONTRACT
 :. FROM ARCENTA
Will Furnish Power To Cot ton Oil Mill In That
 City.

The Arkansas Light & Power com pany has just closed a long time contract with the Dixie Cotton Oil company, according to an announce ment made last night by H. c. Couch, president, for the purpose of supply ing the Argenta plant with power. This contract was awarded to the To- cal plant in the face of Little Rock concerns, and is but one of series of triumphs for the Arkansas Light & Power company, and it's president, MT. Couch. Last week, it was announ- ced that the local plant would supply Altheimer with light. This week, it is contract for furnishing an indus try in Little Rock, and next week, only Mr. Couch knows what it will be.
 The Dixie Cotton Oil company re- gently burned, but it has been pur- chased by the Bridgewell and Scrog- gins interests of Morrillton, who own and operate mill at Morrillton. The
 The Dixie mills is being rebuilt and is now being made into one of the
Pine Bluff daily graphic., 1919-04-15
PROHIBITION ENFORCEMENT PUZZLES MANY Not Up To Internal Revenue
 Bureau. KEEN INTEREST
 SHOWN IN MATTER President May Transfer Power To KevenGe Burran But Funds
 Are Short.

Washington, April 14.-Legal ad- Vlsers of government agencies in- terested in liquor regulations exam ined statutes and executive orders to- day without finding specific legal au- thority by which the internal reven- ue bureau migh. enforce war time prohibition after July 1st.
 President Wilson, under the Over man act, giving him power to trans fer functions from one department to another, might delegate the author lty to the revenue bureau, some law yers declared. However, this still would leave the bureau without ade- quate funds to pay the costs of main- taining a large federal force, unless there is some legislation at an early special session of congress.
 Suggestions received today did not change materially the air of uncer- tainty over the question of how pro- hibition is to be enforced after July 1st, as caused by Internal Revenue Commissioner Roper's announcement ttat his bureau had not the authority nor the funds to carry out the en- forcement measures properly. Many telegrams received at the commits sioner's office today reflected keen interest by individuals and organiza tions in the status of war time pro- hibition.
 Cite Food Act.
 Legal advisers of other agencies to- day discovered that an executive or der of the president dated September End, 1917, issued under authority of the Overman act, delegated to the re- venue bureau and the customs divis- ion the enforcement of the food con- servation act of August 1O, 1917 which prohibited the use of food ma- terials in production of whiskey and paved the way for restrictions of beer brewing. These agencies, acting under the treasury, were authorized by the president to employ such addi- tional assistants for this work as the secretary of the treasury might deem necessary. The amendment to the ag- ricultural appropriation act of Mo- vember 21st, 1918, by which war time prohibition effective July 1st, was established, did not become law until long after that executive order was issued, and consequently the or der would not apply to the prohibit tion measure.
 The distinction between this act and the other war time liquor restrictions, as pointed out today by officials, is that it relates to the sale of liquor, whereas the others related to manu- facture. Consequently, it was ex- plained, that the revenue bureau will not have power to take action against illicit sale but will retain it's present power to prevent illegal production of liquor.