davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-12-17
Stock [ r'ices
Recede Further
In Quiet Mart
Professional Selling Reduces
Gains Established Since
Recovery After Monday;
Foreign Exchanges Rise

The net result of yesterdays trading
in securities was a further reduction
the price gains made on Tuesday,
after quotations had fallen to the low
est level Of the year on Monday. The
rebound which continued Wednesday
morning was checked later in the day,
and in the session dominated by tne
professional element yesterday the
trend of prices OF both railroad and
industrial stocks was toward lower
! levels.
But since the elimination on Monday
of the movement consisting of precipi-
tate declines the activity at the market
/ place has been waning, and the char
( acter of the selling has altered lii
I stead of the prominence of necesstous
liquidation there has been an increas-
; ing proportion Of short selling by op-
orators hoping to profit from q further
decline. Obviously, the professional
sellers are hoping to drag quotations
back to Mondays low levels and below.
l. they succeed they will bring prices
to new strata, where new series of
stop-loss orders will be uncovered to
facilitate the decline. To-day the mar
ket will be subjected to q test Of
stocks is great enough to stand off
these efforts.
The conveyance on Wednesday of
the passing of dividends by corpora
tions, including the WHY'S Overland,
helped to unsettIe sentiment yesterday
and caused pressure against the motor
and allied stocks. Moreover, traders
used the steel stocks as especial tar
gets, and, with the exception of Steel
common and Bethlehem, they receded
The proximity of wage cuts by the steel
companies was interpreted by traders
as an index of depression in the IN
dustry.
Although stocks tended lower, the tone
was fairly steady, and the recessions
were moderate. The average of twenty
representative railroad stocks was 81,
compared with 62.25 the previous day
and 61.O5 on Monday, and that of
thirty industrials was 1907 yesterday,
compared with 1858 the previous day
and 71.57 on Monday.
Money again lent at and per cent
for call loans, and the easier tendency
in part accounted for the strength Of
the European exchanges, which was
attributed to financial operations in
connection with end of the year set
Elements. Sterling, gaining s cents to
the pound, rose to $3.51n, and francs
rose above cents.
Cotton quotations were once more
steady, and wheat prices after fluctu-
ating widely, closed with little net
change for the day. Moderate declines
in the market value of corn established
new low records for the year.
New-York tribune., 1920-12-17
In Wall Street
Hill for Farmer Relief

The urgent need of relief for the
American farmer, who has suffered an
enormous loss as q result of the ter
rife fall in the value of products of
agriculture, was emphasized yesterday
by Louis ". Hill, chairman of the
board of the Great Northern Railway,
who has been in tbwn since Monday On
business connected with the property
What is needed more than anything
else" said the railroad executive, "is
the development Of an export outlet
for the huge stores of farm products
which at the moment are practically
unsa' able" Desrite the lc-s w ich
the farmers are facing, they have gone
ahead in the Northwest, according to
Mr.. Hill, with preparations for the 1921
crops, and the amount of land plowed
in that territory this autumn sets II
new record acreage. Discussing the
railroad outlook. the head Of the Great
Northern expressed the opinion that
the carriers are entering upon a new
era of prosperity. Mr.. Hill emphasized
in this connection the improved stand
ing Of railroad securities as compared
with industrials.
New-York tribune., 1920-12-17
Cerro de Pasco Bonds

Practically all of the 50. 600 900 ten
year convertible sinking fund per
cent gold bonds of the Cerro de Pasco
Copper CORPORATION offered for sale by
a syndicate of banking houses. headed
by j. P. Morgan & Co.. have been sold
it was learned yesterday. The bonds
were offered at par and interest and
are convertible at the option of the
holder, up to and including January /
1881, into stock of the corporation at
the rate of thirty shares of stock for
each $1,000 principal amount, eouiva-
!ent TO price OF S33 Is per share Of
stock. The inicnture und r. which the
bonds are issued provides for the oav
mcnt as sinking fund in semi-annual
instaliments of a sum equal to not less
than 20 per cent of the corporations
net earnings before interest charges
and depletion, but in no event less than
Ss4o,oo0 per year, to be applied to the
purchase of bonds in the market at not
exceeding 1O5 per cent and accrued in
terest
New-York tribune., 1920-12-17
The Steel Shares

With the weekly trade reviews ssress-
ing a further recession in the iron and
steel industry and the leading inde-
pendent companies preparing to make
effective lower wage scales. sentiment
regarding the steel shares yesterday
was none too confident. The early re-
cession in prices was caused largely by
the success Of the bear traders in de-
pressing such issues as Crucible, Re-
public, Lackawanna and, to lesser de-
gree, Steel common. Crucible was made
to look particularly weak prior to the
dividend meeting that took place in
Pittsburgh in the afternoon, and re-
ports were current that cut in the
present 8 per cent rate might be eX
rected. Such was not the case, how
ever, as the regular quarterly disburse-
mont of 2 per cent was declared. Those
who remembered the recent statements
of Chairman Wilkinson regarding Cru
cible's dividend policy would have been
greatly surprised to see reduction at
this time. Nevertheless, traders argued
that a prolonged continuation of pres
ent conditions in the trade must inev-
tably foreshadow curtailment in div
idend distributions to stockholders.
New-York tribune., 1920-12-17
British Finance

Bankers conversant with British gov
ernment finance placed little credence
IN cable reports from London yester-
day to the effect that the British
Treasury is planning funding opera
of dollar bonds to take UP the British
floating Indebtedness in this market
The amount of this indebtedness, the
bankers said, is less than $4,000 900 and
consists wholly of British Treasury
bills, which are gradually being retired
1t was suggested in connection with
the funding report that it might be thai
some time next year the British Treas
ury would arrange for consolidating
the United Kingdom notes sold here
during the war before their maturity.
Nothing has been done in this direction
as yet, however, it was said.
New-York tribune., 1920-12-17
Investment Buying Heavy

A number Of important commission
houses say that the volume of stocks
taken out of the Street within the last
few weeks has been surprisingly heavy
despite the fact that these purchases
have had little or no effect in stemming
the downward movement Of prices. A
partner of one house said that this
tendency was becoming so marked that
he had asked his man who has charge
of stock transfers to prepare list of
the issues which have been paid for
outright over given period. He said
that the people who are buying stocks
now profess to care little for the day
to-day fluctuations and arc looking
ahead to the time when business condi-
tions have recovered from the present
slump.
New-York tribune., 1920-12-17
Sears, Roebucl & Co.

Albert H. Loeb, vice-president of
Sears, Roebuck & Co., was quoted in
Chicago dispatches to the financial dis
trlct yesterday as saying that "the
February dividend is as much assured
as any dividend can be in the sense
that, barring unforeseen contingencies.
1t will be paid" Nobody has raised a
question about payment Of the dividend
due IN February, Mr.. Loeb said except
outsiders. "Buslness is about as poor
scarcely enough time yet to feel the
benefit from cold weather, but We are
still hopeful"
New-York tribune., 1920-12-17
Smelling Wage Cut Expected

The movement Of the copper pro
ducers to reduce wages is being ex-
tended to the smelling companies. 1t
was said yesterday that the American
smelling and Refining Company, the
leading factor in this industry, is
considering program for curtailing
the pay of employees at its smelters.
Officials, including William Loeb, ir.,
are at present making a trip of in
spection of the different plants in Or
der to learn first hand how much of a
cut is feasible at the present time. It
is said to be the intention Of the man
agement to devote considerable atten-
tloA to the question OF efficiency, so as
to make the wage cuts as small as pos
siblc.
New-York tribune., 1920-12-17

Bank Clearings = Bank clearings at
New York yesterday were; Exchanges,
S10G8, ,9A9,613; balances, s141 ,069, ,240.
Silver - London, 417sd New York
domestic bar, 9919c; foreign, 64s4c;
Mexican dollars, 49l4c.
Canadian Exchanges York funds
in Montreal s173.75 premium per 81
600; Montreal funds in New York,
$148.03 discount per $1,000.
New-York tribune., 1920-12-17
The Dollar in Foreign Exchange

The foreign exchanges displayed
marked strength yesterday, with
sterling leading the wav with rise
Of more than three cents in the pound
TO s3.5114. Francs rose above si,,
cents.
Exchange brokers attributed the up
ward movement to International tinan-
cial operations incidental to the ap-
preaching end-of-the-yea settlement.
Tho easier money situation here was
also d factor. In sterling there was
some covering of short commitments.
Quoted in dollars to the pound.)
New-York tribune., 1920-12-17
On the Road to Pekjng

Frederick ". Stevens, who is on his
way to China to act as special repre-
sentative of the American banking
group Of the international consortium,
SAILED from Kobe, Japan, yesterday for
Shanghai, China. From there he viii
20 to Picking. With his arrival at the
Chinese capital it is expected that def
mite developments with regard to the
consortlum's program will be forth
coming
New-York tribune., 1920-12-17
Money and Credit

Call money on the Stock Exchange
yesterday was again in fair supply
snd the rate, after ronewing at per
cent, fell to per cent in the after
noon dealings on the Stock Exchange.
Time money was quiet and unchanged.
Yesterday Y ear aoo
New-York tribune., 1920-12-17
Food Products Dividend Passed

The recommendation of the United
States Food Products executive com
mittee last week that the quarterly
dividend of Y per cent due at this
time should be deferred was. carried
out by the directors yesterday. The
stock was little affected by the an
nouncement, however, as the action of
the board had been previously dis
counted lin heavy drop in the price.
New-York tribune., 1920-12-17
slump Grows in Brazil
financial Circles Worried; Dol
lar Quoted al 81 81.

RIO DE- JANEIRO, Brazil. Dec. 15.-
The continued drop in the exchange
rate is causing mach concern in hnan-
cial and CONNER rcial circles here.
The dollar on sight vas quoted to-
GaY 4. tho oanivaLcnl Of - II
New-York tribune., 1920-12-17
More London Gold

Two ships are on the Atlantic bring
ing additional London open market gold
to New York for the account of Kuhn,
Loeb & Co. The Olympic is bringing
S1,80000O and the Kroonland 81 $4,000.
The arrival of the gold here will bring
the total imports on this movement by
Kuhn, Loeb & Co. up to SIS, $50 900.
New-York tribune., 1920-12-17
Lordon Money Market

LONDON, Dec. fe.~~Bnr ellvcr. A17zd
per ounce; oar gold. ll7s Cd Money,
m per cent. Discount ratos: Short
and three months bilis, IN per cent.
Gold premium at Lisbon, 40.
New-York tribune., 1920-12-17
Paris Mark cf -,tcady

PARIS Dec. To- price~ were STEADY
On the Hoursc to-day. Three per cent
rcntes, 5G francs 70 confines Ezcho e
IN London, 58 francs 80 ccntimcs. Five
per cent loan. 80 francs 20 ccntirncs
he dollar wa1 quoted at IS francs 90iz
ccntimcg.
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-01-13
PREDICTED SILVER |
WILL CO TO $1.50

That silver which hit the high mark
of S1.37 in New York and Is selling
for 81 40 in San Francisco, will reach
$3.50 within thirty days, was the pre-
iiction made by several prominent
mining men gathered in the Mine
Operators Association office at the
annual meeting in Reno. says the
Reno Gazette.
John j. Kirchen, Frank NJ. Manson
and others made the prediction. Clyde
Heller, president of the Tonopah Bel
mont Company, was not so sure, but
stated that the silver buyer was pay
ing a price now that would secure the
silver for him and that the market
as announced in New York did not
make much difference.
"If silver goes up another cent it
will mean to large extent the with
drawal of subsidiary silver coins, as
the value of the silver in halves and
quarters is about $1.37h," said one
operator "At the present moment.
silver in the dollar. allowing for
seigniororange and melting charges,
is worth about six and quarter cents
more than the dollar itself-in other
words, every one thousand silver dol
lars are worth about $65 more as sill
yer than as coin.
THE sub-treasury at San Francisco
is not giving out any silver dollars
now and the silver dollar is fast dis
appearing although no coin is being
melted down. Considerable coin is
being shipped out of the country,
however"
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-01-13
EFFICIENCY. DEVELOPMENT
TOPIC OF ANNUAL BANQUET

The Winnemucca Volunteer Fire
Department held their annual banquet
last Saturday night. at which time the
future efficiency and development of
the organization was the main topic.
R. b. Hawcroft. chief of the Reno
fire department was present and gave
many interesting and useful sugges-
tions. E. H. Gilman, superintendent
Of the Winnemucca Water & Light
Company was also one of the guests
and on Sunday he accompanied mem-
bers of the city council and fire de-
partment on a tour of inspection of
the new equipment recently installed
for the further protection of the city
from future CONGREGATIONS. Among
the other invited guests were: Mayor
Brandon, Councilmen Hoskins, Sites,
and Akin. Sheriff Springer. Chief of
Police Moore and Fire Warden
Rougon. The banquet was served in
Winneva hall by Sutherland and
Hancock.
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-01-13
TWO BASKETBALL GAMES TO -
BE PLAYED SATURDAY NIGHT


The Humboldt county high defeated
the Battle Mountain high at basketball
last Saturday night by a score of 20
to %.
In the game between two picked
teams of high school girls, the
Giants" won from the "Dwarfs" by
score of 16 to IA. --
On next Saturday evening there will
be two games played at the high
school gymnasium, one between the
Elko and Winnemucca high schools
and the other between Winnemucca
Town Team and the Mayrose aggrega-
tion of Reno. These promise to be
the best games of the season as both
of the visiting teams will come with
more or less of a reputation.
1t is also planned to hold dance
after the games and arrangements
for this feature have already been
started.
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-01-13
JOB AS COUNCILMAN LOOMS
UP ALLURINGLY AT ELkO

Supervisor Frank Williams re-
Gently rendered his resignation as
member of the city council of Elko.
according to the Elko Independent.
Mr.. Williams. it is understood. will
soon take up his residence in Cali
fornia. In the meantime no intima-
ton has been given of prospective
city councilmen to supplant Mr.. Will
liams. The job is very remunerative.
paying a salary of one dollar month,
does not carry more than 365 days of
grief out of the whole year. takes
very little time outside of about three
nights a week. never subjects holder
to public criticism except on special
occasions. which happen about every
other meeting night, and is guaran-
teed to last as long as any fellow
looking for fame and fortune wants
to hold 1t. Consequently there ought
to be several hundred applicants for
the place.
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-01-13
NEW BANK STARTED
At BATTLE MOUNTAIN

That Battle Mountain is growing
steadily in a business way, is empha-
sized by the fact that some of its
most progressive citizens realize the
necessity of an additional banking in
stitution, says the Battle Mountain
Scout.
At a meeting held Tuesday evening
the subject that had been given con-
sideration for some time was
thoroughly discussed and an organiza-
ton perfected. Though it may be sew
eral weeks before necessary arrange
ments can be made to carry on a
banking business, the plans are about
perfected and officers and directors
named as follows:
Directors-Fred Altenburg, A. Le-
maire, Sr., George Russell, Jr., Dave
Shropshire, G.. NJ. Southward, Henry
Starrett and w. G.. Adams.
Oficers-G. NJ. Southwark, presi-
dent A. Lemaire, ST., vice-president; /;
Fred Altenburg, vice-president; w. G.
Adams. cashier
The capitalization of the new in
stitution is $4,000
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-01-13
ADDITIONAL PERSONAL

A. Burdetti is a recent arrival here
from Lovelock.
B. H. Mervin is a guest at the Star
hotel from Lovelock.
w. E. Moore left last night on
business mission to Lovelock.
C. N. Lancaster was an arrival in
town today from Rebel Creek.
Mrs. Virgil Pasquale of Paradise
Valley is visitor. in this city today.
Mr.. and Mrs. Toney Semanda and
two children were arrivals today from
Paradise Valley
Mr.. and Mrs. Theodore Miller and ].
7. Reeves are in town today from
Paradise Valley.
j. NJ. Fulton of Reno and w. G. Will
son of Ogden. Southern Pacific off,
Gals, are W1nnemdcca vfSit0fS To-Day
o
Mr.. and Mrs. P. Brophy and children
returned to their home here Sunday
from Pocatello, Idaho, where they had
been visiting.
Mr.. and Mrs. Oscar Nehls, who were
recently married at Valparaiso Indiana.
arrived here Saturday en- route to
their future home at Paradise Valley.
District Attorney Powell has gone
to Carson City to be in attendance
on the Arrascada liduor case. which
comes UP for, hearing before the
supreme court.
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-01-13
STOCK SALE GIVES KENDALL
CONTROL OF con. VIRGINIA

A deal involving the sum of ap-
proximately $4,000 was consumated
recently at San Francisco by which
Zeb. Kendall and his associates will
be placed in absolute control of the
Con Virginia mine. a ComStock min
ing property.
Forty days ago Kendall secured an
option on $500 shares of Con. Vir-
ginia stock at the rate of one dollar
share. The option has been taken
up and the remaining seven dollars
share (making price of eight dol
lars for the stock paid in cash. On
the San Francisco stock exchange.
at the time of this DEAL sales of Con.
Virginia were made at $3.50.
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-01-13
OFFICERS INSTALLED BY
EAGLES LODGE LAST NIGHT

Officers installed by Winnemucca
Aerie, Fraternal Order of Eagles,
were: John Gulling. president; f. NJ
Sommers, vice-president; George Wes-
coat, secretary; Gerhart Tholen,
chaplain; w. ]. Dedman, outside
guard. In reporting election of these
officers heretofore The Silver State
enormously said George Wescoatt had
been elected treasurer. c. J. Travers
retains that position.
Another night of initiating and BAN
quoting is scheduled for the Eagles
here when they next meet January 26.
it was decided at the meeting last
night Several more candidates are
to be put through"
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-01-13
SOCIAL EVENTS At
M'DERM|TT MANY

McDERMITT, January IL. = Last
Tuesday a dance was given at the
Commercial hotel to celebrate the
birthday OF the charming and popular
Mrs. Angel Aboitez. At midnight an
appetizing supper was enjoyed by all
and dancing continued until 2 am.
Amos Aramburu. accompanied by
James Anderson, went to Winnemucca
Wednesday.
J. p. and l.. w. Duncan are here
from Jordan Valley. attending to busi-
ness matters. They report the roads
through Jordan Valley to Boise In ex-
cellent condition and state that auto
trucks are working night and day,
taking advantage of the good roads to
get freight hauled to Jordan Valley.
Dancing was again enjoyed at the
Commercial hotel Saturday evening.
The class in Spanish reports an in
crease of four members.
Stewart Robinson returned to Win
nemucca Saturday.
]. u. Minor was an arrival from
Winnemucca Saturday.
Mr.. and Mrs. Joe Giacommetto en-
tertained at dinner on Sunday. Among
the guests were Messrs. and Mesdames
w. o. Baber ST., w. o. Baber Jr
Charles Hewitt, Will Minor; Misse
Royce, Minor, Rodine Minor and Rue
Minor; Mesdames Jacobs and Kelsey
Messrs. Jose Ugarizza Sr.. Jose Uga
rizza Jr.. Joe Uribarren. Ralph Mont
gomery, j. d. Minor and James Baber
John Lowry was in town SUNDAY
from his Skull Greek ranch.
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-01-13
GOING TO REBEL CREEK

d. A. Christy, Jesse Howard, ]. r.
Atkins and C. NJ Lausten. all'of whom
have filed on homesteads iIf'the Quinn
River,valley near Rebel Greek, and all
of Arbuckle. California, were visitors
here yesterday. They are completing
arrangements preparatory to moving
onto their newly acquired property
during April of this year. when all will
commence active clearing of ground
and building of homes.
The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-01-13
MUCH WATER TO Be
SAVED IN HUMBOLDT

State Engineer J. G. Scrugham has
sent out the following to the press of
Nevada concerning data recently gath
cred concerning the Humboldt river
reservoir sites:
"The Office of the state engineer has
just received a full report on the
Humboldt river Investigations which
were made during the past year in
cooperation between the state and
United States reclamation service.
This report covers preliminary sur
veys and data on the most practicable
reservoir sites and the records of
stream flow at various points on the
river which have been recorded during
the past twenty-three years. 1t is
recommended that the initial reservoir
development be made on the south
fork of the Humboldt, to be followed
by others as the adjudications are
made and the irrigation systems i'm
proved. :
THE report calls specific attention
to the fact that most of the irrigation
systems in the Humboldt valley be-
tween Palisade and Oreana are of a
very primitive character and estimates
that minimum of $4,000 acre feet of
water can annually be saved by inn
proved systems of regulation and dis
tribution in this district 1t is esti-
mated that an average of 10000 acre
feet of water. now lost, can be stored
and made to serve land susceptible of
! improvement"