davidaulloa/AmericanStories huggingface dataset:
The Columbus dispatch. (Columbus, Miss.) 19??-1922, 1919-04-02

Mrs. w. II. Duncan has been called
to Birmingham on account of the
serious illness of her uncle Mr.. j.
II. Hurry.
The Columbus dispatch. (Columbus, Miss.) 19??-1922, 1919-04-02

Mrs. Grace Woods friends will re-
greet to learn that she is still on the
sick list
The Columbus dispatch. (Columbus, Miss.) 19??-1922, 1919-04-02

Boys clothes at Kaufman's with
style, wear and the price.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
Big COTTON
, EXPORT COMBINE
Producers and Dealers Have
Project Of Pool With $780,
100000 Capital.
WOULD FINANCE TRADE
Draft Of Proposed Powers to
Be Submitted to New Or
leans Meeting.
WOULD FINANCE TRADE

NEW ORLEANS, May 13.-The proposed
plan of organization for the American
Cotton Export Financing Corporation, a
pool Of cotton producers and dealers, for
export trade. as made known here to-
day at conference of cotton interests,
provides for q corporation capitalized at
800, 100000, to be paid largely in Lib
erty bonds.
The corporation would be empowered
to accept n wide variety of foreign Sc
curities and to market them in this
country or to issue bonds of it's own. It
also could acquire control of foreign
cotton manufacturing plans
Provision also is made in the organi-
zation plan for the corporation TO lend
money to dealers or shippers on security
Of warehouse receipts in cases In which
cotton is being assembled for export.
Thus It would finance the entire export
transaction.
The draft Of the proposed powers for
the corporation will be submitted later
this week to the entire conference OF
representatives of the cotton interests at
New Orleans and adoption of the plan
without material modification is e&-
pected. The corporation would be au-
thorized to begin business when the
amount of capital stock subscribed
should reach $2o,ooo,ooo. with so per
Ctllt pdlu
In addition to finding a market abroad
for cotton and cotton products and MAX
ing necessary contracts, the corporation
would be empowered to deal in notes,
drafts, checks, bills of exchange, ac-
ceptances, cable transfers or other evil
dences of Indebtedness.
1t could .ake bonds OF foreign Govern
mepts or of foreign banks syndicates or
other private business firms and make
loans to those foreign interests on the Sc
curity OF their obligations BY that
means the corporation virtually would
sell It's cotton to foreign purchasers on
credit, raising money in this country on
security of the foreign bonds to finance
the operations
Another power proposed for the corpo-
ration would be 'to acquire the good will.
business, rights, property and obligations
Of any individual partnership or corpora
ton carrying on business similar or cog
nate to the business which this corpora
ton IS authorized to conduct, and to pay
therefor in cash, bonds or other obliga-
tons of this corporation" That power
would pave the way for the corporation
zations. and is understood to constitute
one OF the principal subjects of disagree
ment among the organizers.
Authority would be given the corpora
ton to act in any part OF the United
States or in any foreign country on its
| OWE account and as agent, trustee,
broker or conslgnee in dealing in cotton.
cotton yarns, cotton goods. seed. and
the articles he meant solely for export
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14

kissel Kinnlcutt a. Co. and William
> .'oinoA Co. have purchased an issue
.! $1,000 600 Columbia Graphophone
-han A'acturing Company per cent. Gu
nv. 1.-Two sinking fund preferred stock,
wien Is being offered at S95 and ac-
,,Fled dividends. The purpose of the
,ssle TO D"y of S1,936.S00 first mort
rage per ccat bonds to retire $1,000
WV serial per cent. notes and to sup
pE additional working capital. On
completion Of this financing the Column
va company will have no mortgage or
Iuhded debt, except small purchase
money mortgage for $4,000 due in
- The net profits OF the company
10Y free and n quarter years ended
v. March 81, after depreciation, taxes,
t,c, hut before allowing for interest
winch Is being eliminated by this issue
averaged s1,7S1 ,O5s, or more then two
ana quarter times the annual dividend
:, 74rements on tho preferred stock.
s.w me fifteen months ended on March
81 The net profits were at the annual
Ia'e ~ 32l59,303, or more than two
shd three-quarter times the dividend re-
qu!remeuts.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
CONSOLIDATED EXCHANGE.

Wide price movements and unusually
heavy transactions in the equipment
shares were the outstanding features in
the trading on the Consolidated Stock
Exchange yesterday. The movements
were based on orders expected to fol-
low Congressional provision OF n fund
to meet railway requirements. Baldwin
Locomotive made a net gain of 81.
points TO 96& and American Car and
Foundry of 6 u to 1895. Others of the
group moved along similar lines.
Reading advanced to S7&, Texas Pa
cifc TO 49B and Southern Pacific to
1917. Oils were active and erratic.
Mexican Petroleum. shortly after the
opening, declined to x, Sinclair oil
to So, Pan-American to 81 and Royal
Dutch OF New York to 11OSs. In the
last hour Mexican Petroleum rallied to
1501a and Royal Dutch of New York 10
113A. Others OF the group moved up
proportionately.
The coppers made further gains at the
outset, Utah Copper selling up to so,
American Smelling and Refining to 70 Is
Anaconda TO 6Sh and Inspiration 10
say, all new high records for this year.
On continued demand for silver mining
stocks, Ontario Silver was bid up to
1914 and others OF the group gained
fractionally. United States Steel COM
mon ranged between 100% and 101%
closing at X better for the session at
l0lB.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
TENNESSEE COPPER
WOULD ADD STOCK
Stockholders to Vote on Plans
to Double Capital to Ex-
pand Business.

Stockholders of the Tennessee Copper
and Chemical Company are to be asked
to vote on proposition for the doubling
of the capital stock OF the company by
the issuance OF 100000 new shares, ac-
cording to an announcement made yes
terday by the management of the COM
pany. The proceeds of the issue will be
used in expanding the business of the
corporation by the construction OF a
large fertilizer plant on some new prop
critics to be acquired in Tennessee, Il
was announced.
The decision of the Tennessee manage
ment to enter into the fertilizer business
Is the result of a thorough investigation
of the best manner in which It can dis
pose of its tremendous output of sui
phuric acid when Its present contract
with the International Agricultural Cor
poration expires in 1920. The Interna-
tional has been purchasing all of the
sulphuric acid produced by the Tonnes
see under a contract which has proven
very favorable to the International and
will expire at the end OF next year The
Tennessee management decided that Il
could make more money by constructing
new fertilizer plants and utilizing its
own sulphuric acid rather than by re-
newing the contract with the Internal
tional.
If the stockholders approve the propo-
sition to be submitted to them. the 400
600 new shares Of no par value will be
offered to present stockholders Mt the
rate of share for a share Of the old
stock now held. The shareholders will
be permitted to subscribe for the new
stock at l2A. the date for the expira-
ton OF subscription rights to be an
rounced after the stockholders shall
"a he IL
OF the stock will net the Tennessee be-
tween $500, 900 and 100000 after the
deduction of underwriting expenses II
is believed, and all of that amount prac-
tically will be spent in the new venture.
The Tennessee Copper and Chemical
Company has obtained valuable options
on extensive acreage In the southeastern
corner OF Tennessee, almost on the
Georgia line. and 1t is here that the
new plant will be built. according to
plans. None OF the options has been
exercised. as the company's experts are
investigating the properties available,
and that which shows the best produc-
ton Of phosphate rock will be selected
as the site for the new plant
The projected plant will include big
mixing plants where phosphate rock will
be treated with sulphuric acid, the re-
sultant product being superphosphate
used to get free phosphoric acid for
fertlllxing purposes. The company
believes It's properties are In a
very strategic position to make
costs as low as possible and
net returns of substantial size. The
campaign OF education along lines OF in
tensive farming carried on by the United
States Government and several States
for the last few years has had a marked
effect on the fertilizer market and more
and more farmers are coming to use the
product The company believes, accord
ing 10 ons official. that that demand will
be increased and that there Is before
the concern a splendid opportunity tc
start new and very prosperous ven
ture.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
AFTER WHEAT PESTS.
Federal Experts studying Diseases
Discovered in West.

WASHINGTON, May 13.-Although two
wheat diseases recently discovered in
Madison County. Ill. and which previ-
ously were unknown In this country.
may cause heavy losses to individual
farmers, the losses in the area affected
will have no appreciate effect on the
total production of this years wheat
crop, said statement issued to-day by
the Department OF Agriculture. The
first of the two diseases, said the state
ment apparently is identical with the
take all, or white-heads, known In many
foreign countries. Tho second Is nag
smut of wheat
Both pests are known extensively IN
Australia and Federal experts. sent TO
Madison County, are OF the opinion that
the diseases were brought to this coun-
try In seed shipped from Australia AS
a result, a nationwide survey Is In pro
gress to find II either or both or the
diseases have been introduced anywhere
else In the United States. All grain
growers have been urged to help their
state experiment stations and the Fed
eral authorities in this work and there
by aid in preventing the spread OF pests
which have had such serious effects IN
Australia
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
COPPER COMPANIES
EARNINGS DECLINE
Three Porphyry Concerns Had
Big Reductions for First
Quarter Of 1919.
CUT OPERATIONS HEAVILY
Utah, Nevada Consolidated and
Ray Consolidated Report
Operating Losses.

Three OF the four porphyry conner
companies issued their income state
ments for the first three months OF 1919
yesterday and ell OF them showed a big
reduction in earnings in comparison with
their showinss of the precediaa quarter.
The fourth, the Chino Copper Company,
probably will issue its quarterly state
ment to-day.
The Utah Copper Company. tho larg-
est Of the group. showed net earnings
available for dividends OF only s4S1,324,
or 20 cents a share on tho capital stock.
In the first three months OF the year. in
contrast to s3,S10,664, or sass a share.
for the corresponding period OF last year.
Gross production during the period COW
cred by the report was nearly 20,OO0,OOO
pounds less than in the final quarter of
last year Operations for the quarter
resulted in loss Of s12,94S, but other
income OF 81 oS5 and income from divi-
bends OF s375,ls7 brought the net profit
for the quarter up to s4S1,824.
The decrease in production" says the
report, was due to the fact that opera
lions were curtailed TO approximately a
go per cent basis. A further reduction
OF output does not seem to be imms-
dlately advisable, bait, II, the betterment
OF industrial conditions Is too long de-
layed. this may become necessary TO
further limit the accumulation of metal
stocks. The operating cost per pound
OF copper for the quarter is lower than
1t has been for many months. II is
anticipated that further and gradual
Improvement in costs can be made, which
Will Justify continued production at
reduced capacity until such time an an
Increased demand for copper at fair
market prices will warrant resumption
Of normal output"
The Ray Consolidated Copper Com.
pany for the same quarter reports net
operating loss after deduction of income
received from incorporating sources OF
S152.29S, against a net profit Of S1,105,-
S62 for the same period in 1918. That
company also reported a tremendous cut
In production, the total for the quarter
being 12,291.S91 pounds, against 1861.
149 for the final quarter of 1918. The
average cost a pound was 1918 cents,
against 1880 cents for the preceding
quarter
The Nevada Consolidated Copper Com
pany shows a net loss after deducting
other Income and depreciation for the
quarter OF s111,159. A net income OF
s310.070. or Is cents share on the out
standing capital stock for the same
period Of 1918. Operations were greatly
curtailed during the quarter, and the
total output was reduced from 10. 900. 600
pounds to. a little more than 1900, 600
pounds.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
ST. LOUIS BANKS MERGE.
Largest Bank West of Chicago.
Special Despafch To The SIN

ST. LOUIS. May 13-St Louis is to
have the largest bank west of Chicago
and one OF the largest IN the United
States as the result of merger an
nounced to-day. The Mechanics Ameri-
can. st. Louis Union and Third National
banks will consolidate and be known as
the American Union Third National
Bank with headquarters at the south
west corner of Broadway and Olive
street, the present home OF the Third
National Bank.
The capital stock OF the new bank
will be $4,000 900 with Sc, 100000 sur
plus and $780, 900 undivided profits. The
deposits OF the three banks in the mer-
ger are 2l,469,446 and the resources
of the three $l56.4s5.173, according TO
the statements OF the banks published
at the last official call.
The three presidents. F. o. Watts,
Walker Hill and N. A Mcmillan, will be
the executive managers OF the bank and
+. Q. Watts the President
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
Norfolk and Western Offering.

- bernhard, Scholls & Co, the Bankers
IT, Company % New York and the
mon trust Company Of Pittsburg are
Offering for subscription. at the market,
sE'Voo0"0 Norfolk and Western converti-
ee.r l'n-fear per cent. bonds dated
,,ep,'mher J, 1919, and maturing on Sep
"hner J. 1929. They are part OF a
w'ai authorized and outstanding issue
W NI9i5,000 represented by subscrIp-
I'. receipts eNchangeable on September
J. !tl', FOR defnitive bonds and are con-
N'fN'.e At par into common stock of
ne company At the option OF the holder
I'll. any time between September /, 1919,
Ind September !, 1929.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
OCEANIC STEAM REPORT.
Fronts of Marine Subsidiary Drop
During 1919.

The annual report OF the Oceanic
steam Navigation Company, n subsidi-
airy of the International Mercantile
Marine Company. which operates the
White star Line, shows a decline in
profits for 1918 compared with the
preceding year. Because of cut Of
per cent. In dividends paid during
1918 the final deficit was somewhat
smaller than It was for 1917.
Net profits for 1918, before interest
charges, depreciation and reserves,
were approximately S6.707.71o, against
sLoIl,3O5 in 1917. In 1918 interest
charges advanced nearly 500, 900, and
reserve for depreciation fell about SIS, 900.
other reserves were half a million dol
lars less. Dividends paid during tho year
aggregated IL per cent. on the out
standing capital stock, against 90 per
cent. In 1917, the total for 1918 being
t3,1S7.5o0. against s3.750,000 in 1917.
The deficit, after dividends, totalled
about s660.OO0.
The report points out that mono OF
the company's steamships was lost by
enemy attack during the war, but that
there is still great difficulty in carrying
out large overhauls and reinstating pas
senger accommodations The company's
fleet at the close of 1918 was thirty
seven vessels with 425.65S tons gross
tonnage, and four vessels with a ton
mage Of 10000 were In process OF build
ing.
The report OF Frederick Leyland 4
Co. another British subsidiary OF the
lnterna tional Mercantile Marine Com
pany, for 1913 gives an audited balance
sheet but falls to include a profit and
loss account. The report declares that
the dividend on the preference shares
has been paid to November 30, 1918,
and the directors propose to pay the
ordinary shareholders a final dividend
OF per cent. in respect of the year
1918, and to carry forward balance of
e175,602."
Two years ago the company paid of
arrears OF the preference dividend, es-
tablished a S3,75O.0oo reserve fund and
paid dividend and bonus aeggegating
24l5 per cent. on the ordinary shares.
profits having Jumped from 81, $50 900
to more than $1,000, 900. Prior to that
time no dividend had been paid on the
ordinary shares for thirteen years.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
MICHIGAN R. R. SELLS BONDS.
National Company Takes $4,000
900 Traction Issue.

The Michigan Railroad Company,
which owns and operates lnterurban rail-
ways In Michigan, has sold to the Ma
tIonaI Company $500, 900 first mortgage
five year per cent. gold bonds. and the
National offered the bonds yesterday at
90 and interest TO yield 721 per cent.
reporting a wide distribution OF the por-
ton sold
Investment houses say that the out
look in the Bond market is good and that
Industrial companies. which propose to
do new financing, will sell new stock
Issues There are many negotiations for
the sale of public utility and railroad
financing issues.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
AnEIo-American Commercial Corp.

F. S. Smithers & Co. and Colgate.
Parker & Co. have underwritten 1000
shares OF common stock OF no par value
OF the Anglo American Commercial Cor
poration and will shortly make a public
offer OF the issue. This Is part of an
authorized issue OF 10000 shares OF
which 10000 shares are outstanding
The corporation also has $500, 900 8 per
cent. preferred stock outstanding The
Commercial Corporation
has been formed under the laws OF New
York State TO acquire all the property
and business of the River Plate Com
mercial Company, Inc.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
NEW COAL DELIVERY COMBINE.
stock of Proposed Corporation o
Subsidiaries IL Underwritten.

Spencer, Trask & Co. and Ladenburg,
Thalmann & Co. yesterday announced
underwriting a new company to be
known as William Farrell Son, Inc,
which will include delivery subsidiaries
of twelve to fifteen coal companies. II
is expected that the new company Will
centralize operations and reduce over
head expenses.
The underwriters will make an offer
ing of $4,000, 900 preferred stock of 800
par value and 10000 shares OF common
stock OF no par value.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
Elect Seymour Cromwell.

Seymour Cromwell was elected a vice
president OF the New York Stock Elk
change yesterday at a meeting Of the
directors. 1t was announced that James
r. Auchincloss. who has been in Wash
irgton during the war, in charge OF the
activities of the Four Minute Men, will
be added to the exchanges library com
mittee,
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
sun Company bond Offering.

Montgomery & Co. are offering at
pany ten-year 6 per cent. gold debenture
bonds dated May l, 1919 and maturing
May /, 1929, being part OF an authorized
issue OF S20.000,0o0. They are callable
in whole or in part on any interest date
at 1O1 and accrued interest and are re-
deemable for the sinking fund at par and
accrued interest
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
Exports From New York.

Wheat. bu.. 1882; beans, bu.. $50 /;
-four, sacks, 1873; bacons. lbs. S,025,-
$50 lard. lbs, 2,S3i,05O; rye bu., 2s3.-
1853; barley, bu., 33,444; cornmeal, Ubls.,
1 63i pork, bills. I 800 cottonseed oil,
gals. 10000; lubricating oil. gals,
1880. -.--
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
GRAIN MARKETS.

CHICAGO. May 1S.-Dec'ded setoacks
in tho price Of corn resulted to-day
largely from the fact that weather con-
ditiors for planting and for the crop
movement were better than had been
looked for. The market closed weak.
%. to 4%c, net lower. with July ls4%
to 164% and September 1861 TO l56%'
oats finished ~ 10 IN down and pro-
visions off 5 TO 45 cents.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14

Custom House Receipts.

Receipts for duties at the Custom
House yesterday were S52S,345.76, OF
which S92,025.35 was for merchandise
Withdrawn from bonded warehouses, and
S4S1,S2O4l for recent importations
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14
SOUTH AMERICA
American Investors
Should Know About Brazil

THE present economic strength of
the United States of Brazil is in
dicated by the following facts:
A S producer Of two of the most es-
sential staples, rubber and coffee,
she ranks first among the nations of
the world. Brazil is second only to the
Gold Coast of Africa in the worlds pro-
duction of cocoa. Brazil ranks third as
an exporter of tobacco and fourth as to
the number of her cattle available for
food. Brazil stands sixth as producer
of raw cotton and seventh as a pro-
Queer of cane sugar.
RRAZIL ranks second among the
countries of South America in
her manufacturing industries and in
the mileage of her railroads. Her mile
age of navigable rivers exceeds that of
all other countries. Her area exceeds
that Of all countries except Russia,
China and Canada.
THE above facts concerning Brazil's
present economic strength are not
fully appreciated by American invest
tors, nor are the tremendous future
possibilities of this rich but undevel-
oped country fully grasped by the
American business public.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14

CORN-Ths market yesterday reacted
from Mondays high level tho closing hg-
ures being 2K6I&c. net lower. May.
which showed the greatest strength on
Monday, experienced the largest losses,
In tho local cash market No yellow
was quoted at sl.95% No. white
si.974. cost and freight New YORK. .,,
OATS-The market yesterday was weak
throughout the greater Paars Of The 70, Day tSs
closing at net losses of ~ giHe, tos .ne
standard and No. Z? white quoted at 1sn
white. 7snG7sc. fancy clipped white
79it 6fsihc.; ordinary clipped white. ISM
KYF2Market weak yesterday. No. :
western. Sissy, cost and freight New
BARLEY--Market weak yesterday:
Feeding N.ls; mating, il.2S, cost and
freight New York.
BICKWHEAT-Mark quiet Yesterday.
Sound milling. S2.s5, cost and freight New
HAY-Mariset steady yesterday. No: l..
,s,25; No. z, ,2.l5a2.2o; No. ,. f92lo' =,
STRAW-Market quiet yesterday No l
rye, Sl5@l6 ton.
The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-05-14

RRAZIL'S future economic power
lies in the greatness Of her re-
sources as yet untouched and unex-
plotted. Her present production ST
world staples represents but small
proportion of the attainable produc-
ton.
FER known mineral resources have
limitless possibilities, particularly
as many are accessible to water trans
portation. Her cotton yield is but a
fraction of its possibilities, there being
comparatively little of the available
cotton land under cultivation. The
Brazilian Government is making an
energetic effort to develop agriculture,
factories and transportation and has
sincerely sought the lead anG assistance
of the United States.
IMPORTS from the United States en-
joy special privileges and American
money invested in Brazil is money in
vested in our only South American Ally
in the European War.