davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-10-21
Lowering of Interest To Be Gradual

Qucstion--Wil there be any material
change, in your opinion. within the next
year IA the price of interest bearing listed
securities. including five and ten year
notes taking into consideration that the
Federal government will be obliged to be-
come a heavy borrower in some form or
other because OF shrinkage in income
taxes? This Is the assumption that
present expenditures will not be radically
cut, ana income taxes will show up as
predicted. I'm asking this because within
seven months n considerable sum is due
me and Will be paid and IL you thoug IT
THIS was a much better period to invest |
would borrow against what is coming due
"A. d. NJ.
Answer-We look for a gradual ease
IN money rates. 1t may take some time
before much lower rates are estab
lished for the reason that there viii
probably be a considerable demand
upon capital. Europe owes us about
$4,000 100000 outside her debts to this
government for loans during the war.
Already we see the fiotaton of French
railway securities in this country.
There is a great deal of money here,
but not enough, perhaps, to care for
all the financing needed. Neverthe-
less, we believe the long term bonds
arc a good purchase at present and
that short term issues will not show
any considerable advance in price for
a while.
New-York tribune., 1920-10-21
Movement Toward
Lower Steel Price
Gains Momentum
Curtailment of Production
Increases as Signs Point
to Further Decline; Break
i'm Coke Costs Is Noted

AS indications Of an increasingly
rapid downward revision of steel prices
continue to accumulate one of the most
significant developments of the week
is break in coke prices, which appar-
emily marks the end of the fuel fam
inc that has ruled for months. Fur
ther curtailments in production are
noted in the weekly summary of the
trade by The Iron Age.
with a decline Of 50 ton in the
week and foundry operations on a
diminishing SCALE" says the paper,
"consiC cradle contract coke is being
released and buyers once more have
something to say in that market.
The movement toward lower prices
tor pig iron and the products of indie
pendent steel mills IS more rapid and
there are more shutdowns and curtaii-
ments of production. Signs now point
to a decline in both pig iron and steel
ingot output in October, though an in
crease was indicated as the month
came in.
can Eastern steel company has Just
blown out four blast furnaces, and at
western Pennsylvania Independent
steel plant operations are at so rer
cent, as against 80 per cent only le-
Gently.
"The efforts of the Ford Motor Com
poiiy 1OA q iSNlSlou O1 llS contracts on
cold finished steel bars have met with
fair success, and it is expecting con-
cessions from the strip steel makers,
but Independent sheet makers have not
been willing to revise their prices to
the Steel Corporation level.
"The belief that activity will suc-
ceed the present hesitation early in the
new year is prompting the policy in
some cases of adjusting operations for
the time being to the limited demand,
without pressing for new business.
Meanwhile concessions are largely con-
fined to the smaller mills"
The Iron Trade Review will say to-
day:
"Rehecting the listlessness IF the mar
ket, some Independent companies have
manifested a willingness to reduce
their prices to the level being quoted
by the Steel Corporation, but have re-
Trained from doing so, since they are
convinced this would not stimulate
buying any at this time. Renewed in
terest has been centered upon the price
policy of the Steel Corporation. with
the appearance of widespread reports,
as yet without official weight, that
important announcements by the lead
ing producers are near at hand"
New-York tribune., 1920-10-21

curities, inventories, reccivables ane
cash. $139, 100000.
"The companys production of crude
oil in 1919 amounted TO 20,000,000 bar.
rels, and it has holdings of approx.
mately 100000 acres OF undevelopcd
lands in the United States and foreign
countries, situated in proved or promis-
ing oil territory" Mr.. Teagle informe ed
the Morgan banking firm. "Thc present
daily average production of petroleum.
is 10000 barrels. Several new and
impo Ntant trunk lines have been buil,
Its rehneries are being largely in
creased in size and manufacturing ca
l.acity, and improved by the installa-
tion Of new and modern equipment de-
signed to achieve maximum efficiency
in operation.
New refneries are alsoe in process
of construction and will be in operation
within the present year. The com
pany's transportation fleet comprises
forty-six tankers and eight cargo
steamers of 100000 aggregate dead
weight tonnage, together with barges,
tugs and other craft, and is being jim
creased by the addition of 16 ocean
going tankers of 215,000 deadweight
tonnage now being constructed in
American yards. Foreign subsidiaries
also own and operate a fleet of tankers
and cargo carriers of about 10000 dead
weight tonnage, in addition to smaller
ora ft ~
New-York tribune., 1920-10-21
Cities Service Earnings.
Show Increase in Year

For the month of September the
Cities Service Company reports net
earnings of S2,012,040, an increase Of
S610,027 over the same month in 1919.
Net to common stock, reserves and sur
plus shows 81, ,446306, as against 1884,
805, or an increase of S56l,5O1
Net earnings for the twelve months
ended September 80 disclosed $23 49,
094, compared> with $19,828,187, or an
increase of $3,290,907 over the corre-
spending period of last year. Net to
common stock, reserves and surplus to-
tailed $16,612,7 700, an increase OF ST.
537, ,949.
Regular monthly dividends of one
half Of l per cent in cash on the per
cent preferred stock the preference B
stock and the common stock, and the
regular monthly dividend of 1 a per
cent on the common stock payable in
Cities Service Company common stock
at par, have been declared payable De-
cember l to stockholders O. record No
Vember 15
New-York tribune., 1920-10-21
Bush Terminal Preferred Safe

Question: Kindly tell me If the 6 per
cent preferred stock of Bush Terminal
is safe to buy at s72 per share. Also, will
it pay. dividends and has it been doing
so each year? | have a little money to
invest and don't know much about stock
or bond buying. Kindly tell me also the
difference between stocks and bonds
+. z. S.
Answer - The dividends on Bush
Terminal preferred have been paid
regularly since 1911. For several years
these dividends have been earned be-
tween five and six times over each
year. The stock is limited to 6 per
cent, but the margin is gratifying to
stockholders. We regard it as a good
investment. Stocks represent owner
ship in corporation, while bonds rep
resent the holding of an obligation
debt) of company. Bonds or notes
must be satisfied before any dividends
may be paid on the stocks. Pre-
ferred stock holders must be satisfied,
both as to dividends, and, in the event
of liquidation, as to principal, before
common stock holders.
New-York tribune., 1920-10-21
Danish Bonds Payable Abroad

Question - Kindly inform me through
your columns if either the Danish govern
mment 5 per cent bonds, due 1925 -or the
City of Copenhagen 3ls per cent loan Of
1902 are good investments. Where are the
principal and interest payable?-E. II.
Answer - We have no record of a
Danish 5 per cent bond due 1925 The
5 per cent reunion loan of 1919 was
authorized to take over Schleswig's
share of the German debt, for buying
German property, and for other pur-
poses. These bonds are due 1912 Both
these bonds and the City of Copen-
hagen bonds are speculative, so far as
you are concerned. because much de-
pends upon the course of Danish ex-
change. Principal and interest are
payable in Denmark, and if you pur-
chased bonds you would have to ar
range to have the coupons cashed at
the current rate of exchange. The
Danes are a thrifty race and we re-
gard their obligations as very fair
speculative investments at present.
New-York tribune., 1920-10-21

TO HoIDERs OF CERTlHiC'rEs or
DEPOSIT FOR M!SSOT RI KANSAS i
IENA> RtII.N ~ COMPANY II.
LOtiS DIVISION FIRST @0RItAtt
REFt NDiNG fOIK . PR CENT
bonds DUE April. l>T. e0oi Is
~ I'D Ni1ER AGRFFNENT DhTTD
NUN ENlSER 10TH 1915 BfrN I'm
!HE COMMITTEE THEREIN NAMED
md THE HOLDERS NF -AtD
BcNDS WHO ~HOtl BECOME
PARTIES THERHTO:
Notice Is hereby given that roafSra
non ana amendment of saif Agreement -
proposed By the undersigned ,if.. t.-r.
ana a copy thereof has t-oa fiei .u iirra-
o@er per Stn, l9Zo, with THE FAk> ER~ f' y
AND TRUST COMPANY. NrD4, ,.t4rr Iirirr
sara Agreement. at iis nfit. N
'Si,. M.,,. stree Borough 'f Manhaftts. ciif -
NrW York EACH hold.r of certificate
81 Deposit issued under said Agreement
II ne does not within two weeks after this
cate ME Win said Heposif.ry ~ ifs sad
oilice ms dissent in writing from rle pro-
POSED 1nodiiication and amenlfraaf VII
ne cohclusVely presumed 70 have asssr ID
Agreement.
Dated. New York October 18th ago
EDWIN s. atARSTD~ Chairman.
j., EDMUND ZACHER
FREDERIC ". ALLEN
COMMITTEE.
New-York tribune., 1920-10-21

Kuhn, Loeb and w. A. Reed Top
Bidders on Manila PorI Bonds

WASHINGTON, Oct. 2o.-Kuhn, Loeb
& Co. and William A. Reed & Co. were
the highest bidders for the 5000 900 of
Manila port improvement bonds, which
were offered yesterday by the War De-
partment bureau of insular affairs
These firms bid S101.27 and interest for
the bonds, which pay 5la per cent inter
est. There were fifteen other bidders,
each of whom offered better than par
for the entire issue.
"The strength of these financial in
terests and the number of irms inter
ment announcement to-day, "src an in
dication of the favor in which Philip
pine securities are held.'
New-York tribune., 1920-10-21
TO THE HOLDERS or
THE DOMINICAN kEpT BIC
$50 CUSTOMS xTION SINK.
ING III Nd GOLD LOAN BONDS
DUE FEBRUARY l. tH5.

NOTICE IS HEREBY GIVEN thar Guar
anty Trust Company or New York IS Srr.
cessor to Morton Trust Company. s'ise IL
Agent under the Fiscal Aseucf sereeraea,
made by and between tAe paln.aleaa Ra-
pubhc and Morton Trust Company dated
January II, leOS. hereby invites pro oosa 's
ior the sale 10 the sinking Fund on oc's-
Der 20. 1920. with accrued interest fa tHtf
cate, OF as many bonds of th. above issle
IS can be purchased for the sun 80 TNo
Hundred SeNenty-siX Thousand Three Hun
dred Twenty-Five Dollars and Elrhfv-rire
Cents (276.s25.S9) SeaIea proposals w.'i
be received az Tho Trust Department Dt
ne Undersigned, 40 Broadway New YORK
city, up to 10 o'clock a. AL on l-iaaf
october 22. 1890 when the same VIII be
opened, and bonds onere ar fhe loves.
prices not exceeding lo2is Of par ~
accrued interest 10 fne extent nrctssaff
10 exhaust said sum. VIII bc accepted
subject 10 the reservation rf The righ- 20
reject any or all offers in whole nr .n part
Ht ARNNTN TRUST COMPANY or
NEW EORH
BY CHARLES II. sARlS. President
Dated. October l5 1920
New-York tribune., 1920-10-21
Worried About Motor Stocks

a holder: General Motors. Studebaker and
WHY'S Overland, all common. The WHY'S
Overland was bought a a considerably
higher price DO you think I should even
UP this stock in order to be able to dis
pose of it ground par?-F G.
Answer--Your stocks are all specu-
lative. We do not recommend such is
sues for investment. They are too SEN
sitive to earnings and other factors
SO far as evening up is concerned, it
is matter upon which we can give no
advice
New-York tribune., 1920-10-21
Ne,o Loic Marks Again
Made in Corn Decline

New low records for the season were
established in the corn market, which
closed weak, with net losses of &c to
1sc. Early in the day prices were
frmer, in sympathy with wheat and on
the belief that the market was in an
oversold condition, but subsequently
there were renewed pressure and little
support. Elevator interests in the West
were liberal sellers against cash hold
ings, while the whole cash situation
was weak, with only moderate de-
mand.
In the local cash market No. yellow
was quoted at 81 O9 and No. 2 mixed at
$1.08 c. i. f. New York, ten days ship
ment.
Yesterdays Previous Year.
New York: close. close. ago:
No. 2 yellow ......s1.oo s112 s1.55 q
Chicago:
Dees1sb December ... si si3s SO SO 1.sss 1.ss I
oats--New low records were also estab-
ished for oats and the market continued
TO feel the influence Of the liberal sup
plies and poor domestic and export de
mand for the cash article.
In the local cash market No. white and
No; white We're quoted at ss'ac; No. a
white. 65hc; No. white. 6412c; fancy
clipped white zoe; ordinary clipped white
65c. all elevator.
Yesterdays Previous Year
-NcW 7 oTk: CLOSE close.
No. white $0.65i2 S0.66 sOS20 S2h
Chicago:
December :. .52aa 546k 713s
May '...... .5S12 .5oH IA Is
Rye-Mar1let steady.
Yesterdays Previous Year
New York: close. close. ago
No West... s2.001a $1.97 s155
Flour and Menl-Quotations were:
Yesterdays Previous Year
close. close. ago
Spring patent:
Sill: :oO@11.5o 11.oo@11.5o 1900 -
Cornmeal:
s.250 $50 s.so@ $40 $500 -
e.o07 $50 5000 $50 1850 7.5c
Bran 44.oo@ - 10000 - 43.5o0 =
Butter, Cheese, Eggs
Butter-R Receipts, 9, 900 packages. Cream.
cry, higher than extras, b. 5Si5 % 59c,
extYas 92 score. 5Sc: firsts. 90 to 81 score
New-York tribune., 1920-10-21
ST. Paul and Missouri Pacific Bonds

Question-Would you inform me OF your
opinion of the following two bonds, Chi
cago. Milwaukee & st. Paul refundlng Az S
at CA x and Missouri Pacific general As at
IS L Please state which is the better
bond for investment.-H. n. w.
Answer-The St Paul refunding 4 u
per cent bonds are secured bya first
mortgage on part of the property, while
the Missouri Pacific per cent are a
general mortgage on the entire prop
erty We consider the former a better
investment.
New-York tribune., 1920-10-21
Standard Gas and Electric Notes

Question--Please give me your opinion
as TO the safety of Standard Gas and
Electric Company per cent gold notes.
due 1851. NJ.
Answer-Standard Gas and Electric
notes, 1885, are not high grade, yet
the company shows Improvement in
earnings and interest charges appear
80 be amply earned at present 1t is
our opinion that the majority Of pub
lie utility corporations are facing bet
ter times. These notes are entitled TO
fair business mans investment rat
ing, in our opinion.
New-York tribune., 1920-10-21
Offer Philippine Bonds

Formal Offering Of the $4,000, 900 is-
sue of 5 Y per cent Manila Port Works
bonds was made yesterday by Kuhn,
Loeb & Co. and William A. Read & Co.
The new securities were offered at
1031a, on an income yield basis of sos
per cent to the first redemption date
and $50 per cent thereafter. The bonds
are tax exempt, and the bankers report
ed an active demand for them
New-York tribune., 1920-10-21
Listed and Unlisted Argentine 5s.

Question: contemplate buying a f2oo
Argentine b per cent bond due in 1915.
w nat Is your opinion? l am informed
that the yield Is per cent approximately.
Is, IS that correct? The listed bonds sell
lve points higher than those unlisted
Which would you buy?-T. C.
Answer-We regard Argentine bonds
as good investment. The Weld on
the unlisted bonds is about per cent.
The advantage in having the listed
numbers is that they have a better
market. For investment purposes we see
no reason why you should not take
advantage of the lower price of the
unlisted numbers.
New-York tribune., 1920-10-21

onds 81 To ST score. 40 q &c. lower
Sn.SHs '1a'e hsr bnmyn csls
extras, 59W8oc; flrsts. f7m67c; Aeconds
t2eg46c; state dairy tubs. finest. $50 SIC
good to prime 4odbtc: common to fair
3SW fSc. renovated. cxtrus. 1870 49c
ladies' current make, frsts, ss q 3sc; sec
ohds, 30 p36c; lower grades, 33G034c pick
ing stock; current make. No. |. 35c; No
!, &c; lover, grades so@aac; storage
Cheese Receipts 1.329 boxes state
Whole milk held flats, Specials H.. era
sias sF Hysgsss ru" s!~sse fresh aws,
grades, 2om22i &c; twna held apecials ~
, Sp11 'ac; nverage' run, 24a 2sc Wisconsin
26'a q 27iac double pniaca, held 26@27c'
Young Americas, hold, 2SN3shc; slsims,
held specials iSg2oc, prime to choice, IL
~ nc; fair to good. I2Wl4Hc; lower
tSaasa REGENTS. 1895 cases Fresh Fresh
frsts oo dozsn extra Es
@61c: dirties, No. |, 50Ql52c; checks fair
to choice. dry. 46M47c refrigerator, spe-
cial marks fancy. 56 " q sec; firsts, b3hs0
and nearby Western henncry whites. extras
1850 1.1o; extra hrsts slm1 .o5 firsts. Ss
m96c: gathered whites tirsts to extra
firsts, S7cQsl.o5 under grades, 72et SOC
puliets. 70@S2c; Pacific Coast whites. ex
tras. $l;O5@ 10; extra firsts. 9Scm ST. o3;
hrstss f, ss@9ac; under grades Goa sac;
aRl Southern gathered whites, G5 fb00c.
stSte. Pennsylvania and nearby Western.
hcnnery browns. extra, 750ps5c; gathered
brown and mixed colors graded extras,
7l@ 72c fSrsts to extra frsts, $50 zoe.
Livestock, Meats, Provisions
Yesterday. Year ago.
Live beef fair to
prime 100 lbs s11.5o@1soo st2.5o0175O
d e s d beef
sides. lb 49,. lao .27 100 .26
Live veal, COM
mon to prime
100 lbs. ...... 13.oo@2o.oo 1s.oo@23.oo
D g s c veal.
city. lb. 49,: 200 80 .22@ .35
Live ewes. 100
lbs .....:... 1000 800 4.5o@ $50
Dressed mutton,
city, lb. ...;.. $50 IA 900 .15
to prime, 100
lbs. II 90 01300 13.0OM15 25
Dressed | m 3,
city, lb. 49,. 1870 .2s .2o@ 2S
Hogs 100 lbs>. 16.0OW165O 1425M145O
Dressed hogs,
bacon lb. 80. .24% q. .247s 22% %. .23 u
Mess pork, bbl. . 3O.OO0p31.00 4AOO "a A. 90
Ness beef, Dbl. 19.Oo@2o.oO 23.0O@24.0O
Lard, NJ ddle
West. 100 lbs. 215o@21so 2o.4o@29.5c
New-York tribune., 1920-10-21
UeStment
Information

Qncstions Of general interest to IN
restorv r0ill Je answcrcd in this COL
uTan. in chich case only initials wiIl
DC used. Others ,oiU be answered by
nui2. Address all inquiries, inclos-
ing stamped. addressed envelope, to
Financial Editor, The Tribune, 1sI
Nassau Street, Nctc York Citv.
New-York tribune., 1920-10-21
Henry L. Doherty & Cornpa-,
ATLANTIC MUTUAL.
INSURANCE. COMPANY
At.anslc Building.
40 and 81 Wall Street.
NeW iOrh, VtfO1tr q, IHI.
Snecial Nn.ica IL H.l-l.-. nf

Special Notice to Holders Of
Certificate OF Profits
The remaining outstanding c~rti f3cates OF
profits of tho Issue of 1915 VIII be re.!eernad
and paid to the holders thereof or ~ their
legal representatives on and after Monaay
November !, 49>0. from which aats All
interest thereon will cease: the coroi1cates
to be produced at the time Of pa ,ineut and
Cancelled.
A dividend of interest OF FIVE percent
(being at the rate OF six per percent per
annum) on the said outstanding certificates
OF profits of the issue of rhe year ls.S. viii
be paid to the holders thereof or TO Their
legal representatives on and after Monday.
November l., 1890. Checks for the said
dividend of interest VIII not be mailed IN
accordance with mailing orders to those
who have flied such orders wiki the Com
pany; but will be delivered to the holders
OF the said certificates of profits upon
their surrender
The transfer booEs, with respect to the
Issue of 1919 certificates, will be closed on
and after October IL. 1920
~ order OF the Board of Trustees
q. STANTON FLOYD JONES. SECRETARY
New-York tribune., 1920-10-21
THE UNION OIL COMPANY
OF WICHITA, KANSAS

PREFERRFD STOCK DIVIDEND No =.
The regular quarterly dividend 20 Two
Per Cent upon the Preferred ~.nHh ~ faI'
Company has been duly eciafe3 PAYABLE
NoVernb" j, i52e. 70 lfefsrrtl ST.. ....4-
ers OF record at the close ui lue..l as o,Is-
Der 25. 1920.
Transfer books VIII not be- closed.
JOSEPH {. GORDON. Treas.
wichita, Kansas. October 20. 1920.
New-York tribune., 1920-10-21
DIVIDEND NOTICES

OFFICE or
LOCKWOOD. GREENE & co. MANAGERS
i,osteu. Mass
he quarterly dividend % r. uror
the preferred stock az Lancaster Mills fas
been declared payable November l. 1890.
At the offce Of the Transfer agents the
New England Trust Company Bofton.
Mass. 70 al stockholders of record az he
close OF business October %. 1920
LANcAS STER MILLS
j. DENEREJX WINSTON. Treasurer.
New-York tribune., 1920-10-21
DIVIDEND NOTICES
GilIi!and Oil Company

September "a. 1920.
AT Special Meeting OF the Board of
directors held to-day quarterly dividend
OF TWO t2Ss) per cent on the Preferred
STOCK OF the Company declared paya
Die November s. 1920. 30 stockholders Of
record at the close Of business on Novern-
ber 1, 1920.
j. w. HAYES, Secretary.
New-York tribune., 1920-10-21
To Holders of
Cities Service
Company
Convertible Gold Debentures
Series G, Seven Per Cent

Holders Of the above Debe4tlres mag coarar- IN
November !. 1920. or lie first dsy - ar. mont,
thereafter ten per centum fl0fel rf ne ss--ss..,
principal amount Of Series c Dlhontlres oens. a-
them respectively Ola Oc-ohcr l. 1920. Coryers'a.
must be requested by such owners r-.or % Ns-
yenber !. 1920 or prior 10 rhe first asy ~ ss
month thereafter. and upon deliver tg them OIL n.
before November !. 1920 h7sore fhc a-s- ds-
of any month thereafter ot the p-r.nfiras sr .ie-
sired to be converted fpr-pcrlg endorsed il TX
rered) to Henry l. Doheriy & Company Fi.eal
Agents. such Denentures MIL be converted nfa e.,
Service Company Preferred and Common >fors, on
the basis SET forth In said Deheltur-s f-r-lf-a.c,
for which stocks VIII he issued and Transmitted io
such owners in the amour.s respectively aac.
Henry L. Doherty & Company
Fiscal Agents Cities Service Company
80 Wal Street. New Y5fk
Dated. October 20 1920.
New-York tribune., 1920-10-21
THE PULLMAN COMPANY

DIVIDEND 40. e15
quarterly dividend of tao dollars per
share Will be paid Novrui Der 18th $50
to stockholders o9 rPrort Nf rins.r ~ b4sl-
ness October 50th. 30
r. kA..f .a4y-
New-York tribune., 1920-10-21
Miscellaneous Oil Companies

Atlantic Lobos Oil Co 28 "A
l,NI.o uo pl ................. 65 rs
Cosden & Co. Co.............. " ~
Ilk Basin Cons Pet Co.... SIX
imperial Oil Ltd .......... 107 110
Magnolia Petroleum Co.. $50 $40
Merritt Oil Corporation.... 49, 14s,
Midwest Refining Co...... $50 152
Mountain Producers. .... l0is ~
Northwest Oil Co.. IS 20
Producers G. Refiners Corp Gas az
SAT- Creek Producers new 1ol ii
Sapulpa Refining Co. o.... 5s T57s
New-York tribune., 1920-10-21
Pittsburgh

10 Am Roll Mills GO 60 eo ca
3l5 Am W Gil Mill 11G ~ ~
2S do pf ....... Sc s. Ss isS sS
30 ~ nrhahSas I1,nsl sa5 Gas; I0H 1oH 10.a 10ls
9do do Harb Walk pf s9l7 s9Ls 9sis 9eis
loo Lone Star Gas 80 30 so % Is
Z5S Marland Ref . %
$40 Mrs Mrs 1t & H.. 5Gls 677s 5sn 57A
800 Nat Fireproof 6& 6% fa =,
SO do pf ....... 13lr al ~ 90.
,ooo 0iio 0i. fuei Sup. As 4S 4s AZ
f9 s. = MON e Gas. .1l7ia 117'a 1l7la 1!7ia
% % Steel. Ssla sS9s 8sl. sQss
~ "estingh B.1o2ls 1925 = 1929
Bonds
New-York tribune., 1920-10-21
Philadelp
ROndS

$4,000 Am G & FL 5s ~ 7a 70 20
| 1000 Bell Tel loo 100 ,oo ,no
1000 Elec & Peo 4s 54 54M Ggtz ~,
5000 ilqult IL G 5sl00 100 ,o0 y ,o4 or y
1000 Key Tel 1st 5s 6s 6S Gs % r9
1000 I.ehigh Val IS. 9Sts 9Sil az, oo,
10000 Phla Ell 1st 5s S9is SAL 81 80
1000 United Ry 4s. 80 33 n o.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1920-11-14

There are in the United States to
day several hundred boy and girl edi-
tors and publishers.
Banded together in an organization
known as the National Amateur Press
Association they exchange papers, con
duct literary contests for the best story,
poem, essay, editorial and papers OF
the year, meet IN annual convention,
and write for one another's papers.
Boys Print Own Papers
Many Of the publishers are also
their own printers. The cost Of an
amateur printing outfit is not great,
and the pleasure of getting out an
amateur paper is increased a hun
bred fold If you print it yourself.
But lack OF a printing press does moi
prevent many boys from publishing.
There are amateur printers who print
Z paper at a very modest sum. Horace
A. Lawson. Detroit youth, prints his
paper. The Wolverine" on duplicat-
ING machine. Another boy uses pen
and ink and gets out three or four
copies that are passed on from anna
teur to amateur.
Organized by Scribner
The National Association was orga-
nized in Philadelphia in 1875 when a
group of boy printers and writer's met