davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-05-20
Figuring on Back Dividends

Question: understand that 1nterna I,
tional Agriculture preferred is to pay about
$40 per share back dividends. Would you
advise me to buy the stock at presen,
Would 1T not be a good investment any
way? Also please advise II, in your opin-
lon. New York Air Brake and United States
Industrial Alcohol have speculative pos
sibilitles at present prices.--R. G./T.
Answer-Although there has becn
talk recently to the effect that the In
ternational Agricultural Chemical Com
pany might take steps to pay off the
accrued preferred dividends. We recall
that late last year one of the officers
stated that the company intended to
conserve its cash resources for the
present at least. Suggestions have
been made that a new issue of second
preferred stock might be made in part
payment to preferred stockholders. but
whether this plan has been discussed
officially we do not know. The company
Is doing we'll and the preferred stock,
in our opinion, offers speculative in
vestment possibilities. Both New York
Air Brake and United States Alcohol
are earning we'll at present. The stocks
offer high income returns at current
quotations. For permanent inves tmcnt
We do not advise the purchase OF such
issues, as earnings are likely to fuctu-
ate widely, but from a speculative view
point they appear to offer possibili-
ties, providing there is any change of
sentiment in regard to the stock market
in general.
New-York tribune., 1920-05-20

IN need Of prompt sugars ana condi,,sl. a..
continue to favor sellers -'''''a'
In refined sugar little D. m s.r...
change in conditions was reported =. 4
oeiieVed that one of the local rears-
VIII announce an advance o. one rsr.
In list prices on Thursday. 0"' 0e-
The sugar futures market ro,,,rr,.
MAKE new high records daily. yesterday,
gains being - 10 1On points viz =
market showing indications ot a brosdsn
ing tendency.
Coffee Futures-Atter Opening uncha,s.,
TO an advance of points. the ,nsrts
sagged off in sympathy with ihe rsrs~s
depression through ghout the country W
apparently affected all comInoSity INC. as
stock markets. There is believed n hs
considera bic outstanding long interes, H.
the local coffee market. ana longs bar
dated freely regardless of 1he fact tbs
there was some bullish features in n.
situation. The Uavre Bulletin de- Corr
spondence" of May corracts the sgs,s
ment of April &c BY reducing the SAINT,
estimate for the calendar year 1920 fra.
12,ooo,oOo bags TO 5000, 600 bags
1t is believed that great deal o. ear,
new crop coffee has already been solf fo-
shipment during July. August aad Septen.
Der, and this is regarded IS reducing III.
pressure against the primary MARKERS
while the government is now reported +.
be holding only 375. 600 bags
The afternoon break sent July to sIS o.;
September to $14.65 and December 20 u
final quotations being at about the los
point. or "a to 30 points net lower j.
some quarters the opinion Is freely ey
pressed that coffee viii show no sustainet
advance until there IS an Improvement IL
the unsettled ruling Of other markets an.
in financial quarters.
The range of prices follows:
New-York tribune., 1920-05-20
Bonds
$4,000 Ind Brew 6s. so so 80 so
TOrnrr0
Toronto
Woolworth Dividend o. X.
Increase in Stock Also Ap.
proved by Company's
StOckhO1ders

The increase in common stock from
s5o,ooo,ooo to s1Oo,Ooo,ooO was approved
by the stockholders of the F. W. Wool
worth Company. it was announced yes
terday. The 80 per cent stock divi-
dend, which will take $4,000 900 Of
the new stock, was also ratified.
Helena Woolworth McCann and
Jessie Woolworth Donahue were
elected directors to succeed the late
F. w. Woolworth and G. 7. Newberry,
resigned. Both are daughters of the
founder of the company, and their
election probably sets a precedent for
large corporations having women on
the board of directors. In addition to
lnherlting large stock interest from
their father both the new directors
held large interest in the company
IN their own right prior to his death
Their combined interest represents
about Is per cent Of the stock. 3. D.
Miller, formerly an executive OF the
company's English subsidiary, was
elected to succeed e. A. Bardol, re-
signed
The plan to reduce the authorized
preferred stock from s15,ooo,ooO to
Sl2,O0O,0o0 was approved, and $500 900
preferred will be retired on Julv I
next to conform with the reduction.
This will be paid out Of stock now in
the treasury, and leave in the treasury
about 100000 par value Of preferred
which has been bought in the open
market and will be retired in accord
ance with provisions of the charter
later,
New-York tribune., 1920-05-20
Expects Fair Deal for Railroads

Question--Will YOU kindly advise me
through your excellent column to the
comparative speculative rating you would
give to the following, that is, rate them
in their order of strength and security:
Canadian Pacific, Cerro dc Pasco. Chicago
d Great Western preferred, Chicago, Rock
Island & Pacific per cent and per cent
Preferred Delaware & Jiudson. Mort he rn
Pacific. Pacific Gas and Electric. southern
Railway preferred and Union Pacific pre-
ferrod? You will, of course, notc tho pre-
dominance of the rails. but, like you, /
have strong faith in the treatment to be
mcted out to them, and from a specu-
lative viewpoint. at least, I cannot help
but think tho rails afford tho best spot
at present to place your money. l realize,
of course: that the above list is made up
largely OF speculative issues, but I always
had a lot of sympathy for Steve Brodie.
w V. r.
Answer-1t is very difficult to classify
the stocks you mention, as almost all
are speculative. The railroads earn
ings are poor, generally speaking, few
roads showing greater income than the
amount Of their government compensa-
ton. Perhaps the following order will
suffice: Union Pacific preferred, Cana
dian Pacific, Pacific Gas and Electric.
Cerro de Pasco, Northern Pacific, Della
ware e. Hudson, Rock Island per cent
and per cent preferred stocks, South
ern Railway preferred and Chicago &
Great Western preferred
New-York tribune., 1920-05-20
Foreign Currency
Again Declines in
Paris Selling Wave
Pound Sterling and Ameri.
can Dollar Drop Sharply
at the, Opening, but Rally
Later; Business Heavy

PARIS, May 19.--Another marked
decline in foreign currency occurred in
the Paris market this morning. The
pound sterling opened at 48 francs and
the American dollar at II francs so
centimcs.
Yesterdays closing quotations were
53 francs for the pound and 13 francs
II centimes for the dollar
A High official of the Bank of France
expressed the view to-day that the
sharp decline of the exchange rates
meant the beginning Of return to the
old equilibrium, ruled by the law Of sup
ply and demand. He considered that the
French government decree prohibiting
importation of luxuries from England
and the United States was the starting
point, and that other reasons were the
results of the Hythe conference, where
the settlement of the German indemnity
question began to take definite shape,
tho French business world becoming
for the first time confident that Ger
many would pay something of her debt.
The official pointed to the manner in
which the French government had met
the May Day strikes and the ensuing
crisis as markedly helping French
credlC IN foreign markets.
In general, the official gave 1t as his
view that the production Of the world
was relatively in better position to-
ward consumption than it had been
since 1914. He noted that there had
been general tendency toward lower
prices in cotton and wool and that silk
prices were declining, and he thought
that similar Improvement might be cX
pected within year in steel, iron and
coal.
The wholesale dealers generally are
not affected by the decline in the
pound sterling and the dollar, as most
of the stocks on hand have been pur-
chased at 80, so or 80 days credit. The
cash buyers alone, who are in the
minority, are the sufferers.
The exchange market opened to-day
with rush, spectators who had been
playing for the rise of the dollar and
tho pound unloading, while others were
busily engaged in trying to stem the
tide of the decline. The opening trans
action in sterling was $4,000 at 48
francs. Later transactions averaged so
francs. American dollars were not
quite so active.
The dollar closed at 13 francs "A
centmes and the pound sterling at 81
francs 40 centimes, after the heaviest
days transactions in foreign exchange
since the armistice
New-York tribune., 1920-05-20
Finished Steel Products
Congestion Still Grows
Little improvement in Iron In.
dustry in Week; More Hope
FIJI s,ions Are Seer,

Finished steel products continue to
pile up in the congested Pittsburgh
area with little improvement noted in
the last week, according to the current
issue of "The Iron Age" There are
some hopeful signs, however, since
government and transportation officials
have taken action toward cooperation
to end the delays.
The length of the tie-up has brought
about a situation which can be cleared
up only after considerable patience aid
time have been expended, the authority
says. 1t reads:
"With the immediate cessation of the
strike it would take six to eight weeks
to approach the operating pace of
March. The present natural stagnation
in business is not accompanied by any
price softerNng as would normally occur
under such \ Condition, for besides full
order books, y slump in buying will be
offset by the necessarily gradual re-
sumption Of the mills. 1t now appears
that there are 100000 tons of finished
products in yards and warehouses in
the Pittsburgh district alone, that the
leading interest has probably 100000
tons of unshipped material, and that in
the whole country the undellvered man
ufactured steel is not far short of
1000 600 tons.
"Only half as much ore is being
moved on the lakes as there would
ordinarily be, and likewise only half
as much coal, and it is estimated that
fully one months ore movement has
already been lost"
A quick betterment of the blockade
of coal traffic on the lakes is promised
by the cooperation Of governmental
agencies and railroad managements, ac-
cording to The Iron Trade Review"
'To that end" it says, "the pooling
arrangement in coal which were pur-
sued during the war are to bn restored.
Furthermore, protection o. iron ore
shipments to the furnaces again is to
be put into effect"
New-York tribune., 1920-05-20
Could Switch to Advantage

Question: have thirty shares Of Baltl-
timore & 0hio preferrcd purchased ut rs,
Would YOU advise mo to hold this or to
switch to Lehtgh Valley common, cities
Service preferred. Allied Packers SIS. 1899
or somo other stock or bond? Or shall |
tnke my loss and invest in something like
New York Central equipment or tho re
cent Pennsylvania Railroad per cents? :?
do not care TO invest In anything too
speculative. but might take a chance on
the United Retail Candy Company. re
Gently started, If you think 1T ia 81 good
speculation will greatly appreciate your
consideration of my problem,~~W. II.
Answer-Your statements are con-
ficting> You state that you do not
care to invest in anything too spccula-
tive, but that you might take chance
on the United Retail Candy Stores
stock. There is not much to guido one
IN forming an opinion of this stock az
the company has issued no report OF
earnings. Baltimore & Ohio preferred
stockholders still receive their a per
cent dividends, not because the road is
earning them but because there has
been sufficient government compensa-
tion to pay them. Therefore, strictly
speaking, Baltimore & Ohio preferred
IS not a sound investment. Under the
new legislation this situation may
change for the better. 1t would be bet
ter to place your funds in higher grade
securities. Lehigh Valley is not earn
ing its dividend Cities Service pre-
ferrcd stock is amply secured by earn
ings at present. Allied Packers bonds
appear to be fairly safe They were
probably not permanently distributed
for investment purposes, thus causing
considerable decline in price recent
ly. The best suggestion is the New
York Central 7 per cent equipment or
the Pennsylvania 7 per cent bonds.
Other good issues are the new Pacific
Fruit Express per cent equipment,
Chicago Union Station 61a per cent
bonds and General Electric debcnture
per cent.
New-York tribune., 1920-05-20
WHY'S Preferrcd-Texas Oil

W NlikyS-ONcTtdIu BTe1eTTCO- cNGS VII
Question: am Interested in the .ha @es
OF WHY'S Overland preferred aud Texas
OIL. DO you consider them a good invest
ment III. V l..
Answer-Willys- Overland preferred
stock appears to be we'll secured. The
earnings of the company were rather
disappointing for 1919, although a sub
stantial margin over dividend require
ments was earned. Present operations
are said to show considerable improve
ment over last year All forms of in
vestments have declined in price, due
to the continued high money rates and
the demand for new capital from var-
Gus corporations. We regard the pre-
ferred stock of WHY'S s-Overiand as
very fair investment Texas Company,
a successful corporation, having large
petroleum interests both in this coun-
try and in Mexico, has been a con
sistently good Garner. The par value
of the stock has recently been reduced
from 500 to S25. Valuable rights
have been given stockholders in the
past. At present quotations the yield,
based upon a $3.50 yearly dividend, is
small. AS an investment we do not
recommend the stock. AS a speculation
it may offer opportunities. dependent
largely upon the trend of the general
market.
New-York tribune., 1920-05-20
Sinclair Dividends Ratified
Four Quarterly Disbursement
Plan Is ApDroyed

stockholders of the Sinclair Con-
solidated OH Corporation at the an
nual meeting yesterday ratified the ac-
uon of the directors in declaring four
quarterly stock dividends of 2 per cent
each on the common stock.
The dividends will be distributed IN
holders of record June 30. September
80 and December 81 1920, and March
81, l92l. Payment will be made the
18th of the month following.
New-York tribune., 1920-05-20
For q Trust Fund

Ouostion--May 7 ask YOU to cypress an
opinion on the following selections for the
invest stmeut of a trust fund; PENNSYLVANIA
per cent notes, $4,000; chill Copper bond,
$1,000; United States Liberty 4$4, $4,000
Perc Marquette preferred. $1,30o; United
States Rubber pcr cent, So. 400. United
States Steel preferred, $1,000; Standard Oil
preferred. $1,000; Missouri Pacific general
As 1000: Union & Southern Pacific Equip
ment. $4,000; Atlantic Gulf & West Indies
preferred. Sl.3o0 and +. Lorrlllard COM
mon. $l,370?-S. S.
Answer-If the will under which this
trust operates, states that the trustee
may invest only in securities legal for
trust funds in New York State, none of
the scuritics you mention except the
Liberty bonds should be purchased. If
the trustee has powers to invest in
anything in his discretion, other sccuri-
ties might be considered. However, it
would be better, we believe, to err on
the side Of safety and not purchase any
securities Of speculative character.
For such a list Pennsylvania T per cent,
Victory 4s4 per cent notes, United
States Rubber 5 per cent, United States
Steel preferred, Standard Oil preferred, ;,
Pacific Fruit Express 7 per cent and
Atlantic Gulf preferred are the issues
which, in our opinion, offer the best in
vestment features,
New-York tribune., 1920-05-20
Hudson Tire and Rubber Go.

NHITE FLAINS. May 19.-A certiti-
cate Of incorporation was taken out t.
day by the Hudson Tire and Rubb r
Company. of Yonkers, with capital OF
$l,000.o00 Three directors were
named - William M. Doucette aud
AIRY B. Seymour, Of New York. and
Charles j. Wallace, of Yonkers.
New-York tribune., 1920-05-20
Cotton Exchange Resolutions

The following resolution in regard to
Cotton Exchange trading has been
adopted by the board Of managers. it
was announced yesterday: "Under au-
thority conferred by the rules. the
board Of managers hereby suspends
from May 10 to 2l, inclusive, on Nav
contracts only, the trading limit Of two
cents pound This is designed to give
shorts all possible opportunity to cover
May contgaStss Friday Is tAs laaf day
New-York tribune., 1920-05-20
Investment
Information

Questions of general interest to
Investors wil1 be anoVered in this
column, in 1ph:ch case only initials
Will be used. Others Will be an
swered by mail. Address nil in-
qutries, tnclosing a stamped, nd.
dressed enssiopc, to Financial Editor,
The Tribune, 154 Nassau Street, New
YORK; Citu.
New-York tribune., 1920-05-20
Commodities
Continued from preceding pase)

that temperatures generally we're too low
for gerinination and rapid growth Of corn
considerable improvement in the South
east reported, where rains were bene-
fetal.
In the local cash market quotations
were entirely nominal owing to small
stocks and uncertainty over the question
OF delivery.
co New York: ,, CLOSE CLOSE. aago.
Chicago:
May a,y.......,...... 1.ss 1901 1861
Oats-The market was weak and lower
early in sympathy with corn and under
liquidation; but rallied toward the close
of 1ac while the later months were u c
to %c lower. Commission houses were
good gss buyers on the declines and the mar
western trade publication Indicating a
very small surplus left on the farms
settled with prices quoted nominally at
sl46 to $l4e for the leading grades.
Yesterdays Previous Year
No. 2 whsi.l5 @14s s145@1.4s sc.7sh@.s 50
May -. 1o4ls 1oI .7oss
July -. .S9ls. .90A $50
Rye-Market weak.
Yesterdays Previous Year
No Western. $2441a s24s $165
Flour and Neutrality-suspicious. were:
Yesterdays Previous Year
n. Y: close. close APO
NJ. pat.s14.75 @15.76 1915 @15.75 l2.oo@1s.75
Cmel 75 1917 4:76d4o7E2 3.5O@ 4.5O
Bran. $500 64OO 1900
Cottonseed Oil
The market was Influenced by tho gem
eral decline in the grain and cotton mar
kets as we'll as In the early weakness in
lard, although the subsequent rally in
that market checked selling and brought
a bout partial recovery from the low
of the day.
Final prices were Z to II points net
lower for the active POSITIONS and total
sales for the day were 1880 barrels
The range Of prices follows:
New-York tribune., 1920-05-20
|. II. L. Monthly Report

April gross ....s4.59s227 Ino s5s41ao
Net after tax. 163s,4a6 1nc 200, 900
Iotal income 1b94.709 Inc 207.1
SSurpus aft chg 1898 lno 135730
10 nlths gross. .42.58a.o76 Ino 78I3Ss0
Not after tax...l4 1G6,S48 Inc 31236S3
Total income ..14.64A,9o7 1no. 311O,lSS
Dencit after chg 1.979,S17 Inc tl478ol5
Exclusive Of accruals under provisions
Of Contract No, and related certificates
which under these agreements with the
city are PAYABLE from future earnings,
New-York tribune., 1920-05-20
ANACONDA
and CHILE
ItOo Great Coppers Analysed
According to Type

Comparative rating of copper
mines from an investment
standpoint is difficult because
OF the difference between the
types of ore bodies--the vein
type of which Anaconda is
representative and the por-
phyry, or disseminated de-
posit class. TO which Chile
Copper belongs.
The current number of our
Market Review begins a series
OF brief analyses from which a
comparison of values behind
the shares of the various COP
per companies may be ar
rived at.
AS initial examples Anaconda
and Chile are selected, the
article showing comparative
figures based on annual pro-
duction--in the case of Ana
New-York tribune., 1920-05-20
Livestock, Meats, Provisions

Yesterday. Year ago
Live steers. fair
TO prime. 100 lbs s1I.75 q 1886 Slt00GliN
Dressed beef.
sides, lb..... .i5@ 20 .ale.as
Live Veals. COM
100 lbs ,..... 1Aooa1sao 15.ooen@
city, Ii. 1870 .ss .2oe Is
lbs. :...'..... 7oo8looo zmslltr
Dressed mutton.
city. lb. b........ .159 .22 .lsS :
Live lambs. fair
lbs ....'..:. 14ooe1soa lauelSa
Dressed lambs.
Hogs. 100 lbs 15.oogIs.oo ao75s:ls
Dressed n $,
bacon, Ib..... .2ii3 % .2sS = ;
Mess pork. bbl AZ oO94 1900 57.QoG5h'
Mess beef hbi. IS o081s.Oo $4,000 IS
Lard. NJ d d q
west. 100 lbs 2o.55@2os5 s415G'is
Simon J. Shlenker. Of NJ. Levy { GO
New Orleans, Seton Tranter. OF Ware X
Tranter, New Yorh, and Tyre n. Hutchi7'
son. of 7. r. Hutchinson Il Co. ATTAIN
Ga. have been elected members OF q.
New York Cotton F.NC a0ge
New-York tribune., 1920-05-20
Markets in Other Cities

S15:s s~,e. 9ss": i5s& n;sH ~ tx H?'s
assS 80 ThGmps2n Tnan Sarsde e. e $s g g g
400 y Paperboard 2$& 2s% 231s 23i%
1909 United Iron. 50 e. IS 2sia
500 500 W.T. Wen' knitting 10" 10 1H ~ IS IS 50
$4,000 NV FL 1st S. so so 50 60
!:s s;s $:?:s' $:2sss HsiG'5 s2 ~ s
soS S aSe'9 xosis Oh Motor ts 4 1s q "a ~ 20 80
1900 Packard NJ c.. 81 2IH 20% ~
1859 800 Rs,se Reo Motor q s7n Fix = 221Iss
Philadelphia
atsss i A% A% Sores ass : tss g e.. 4 g Z
15o nToo fTa"P Storage. .iis iis lis ia ii5
l10 keystone Tel. 10 10 10 10
1850 Lake Superior, ia% la& dS l3
5a7 Isn1s" Psnna va.'y a. Z asSs M s3s:. - 8 :
11s Ps;ia Psndns e So 5s s. s5 S59 ~. Sc -
ss7 81 phiia HH Eectrc: Re Pr, sdM 224tn = q
$50 Phila Rpd Trs IA 2lh 20 A. 20 =.
~ To%opaR 1, AN, Mns: .55as -. - -. j s
0Zl Cntd Ci lmpN. ~ a. - a.
$500 an an ! 5s 5s. 70 e. 5s 50 5s g. g
1000 Reading 4s -. 791a 1874 1874 1872
Pittsburgh
2ao Am Roll MN: 50 50 80 50
1SQ Am Wind @ M,114 11f III Ill
3535 Arkansas Gas. 17A 11a is = 1879
80 do pf ......130 130 129 129
1880 Gufey Gin 20 20 2S1a 2S "a
ESQ Habr Elec Cab IS Is Is 10
20 tIarb-Welll pf. 100 100 100 100
ass Kay Co Gas. "a
80 La Belle I VIA 124 124 12a
1900 Marland Ref Ala 4's Az afs
so Nat Fireproof
800 Ohio Fuel Sup 80 501a 80 so
345 Okla Gas .... 35 35 34A 81 q
% Pitts Brewing. 6I4 6H 6A ga
500 Pit Mt Shasta 42c 42c 4lc 4lc
$40 Pitts O & c.. u 12A 12 IL
20 Pitts Plate G.l62 1852 16l 16I
100 Penn R.. 39la 1914 39A 39Ih
So River East Oil ia Ia 17s Ia
10 Stan Sanitary la ia ia ia
120 Stecl.... 92A 92% 81 81
100 Westing Air Il 40 40 108 1OS
100 Wcsting Elec Al Al ASK 45A
Bonds
New-York tribune., 1920-05-20
miscellaneous Oil Companies

Atlantic Lobos Oil Co com. .... 80 40
do nf ACKNOWLEDGEMENTS 100 115
Cosdcn & co. .,....,....... Ga ~
hlk Basin Petroleum Co,..... 77s sia
Houston Oil Co com. ........ 65 70
Imperial Oil, Ltd ............ 1OS 119
Magnolia Petroleum Co...... 316 400
Merritt Oil Corporation. l41a 10
Midwest Refining Co o.......... 13S 40
Northwest Oil Co. Co.......... 20 80
Producers & Ref Corp. CON-. ~ 7s.
Sapulpa Refining Co. - h /.
New-York tribune., 1920-05-20
Sugar and Coffee
Current
prices
m

Current Year
prices ago
Sugar. gran, ID. .2o11 02s .os
Coffee, Rio, No. .I5s. .19L 61qIa
Coffee. San, No 4 .22% Q.227s 22ia923
Sugar-In the absence of business in raw
sugar quot ations more or less nominal
al last paid prices: 1. e.. 23.07c duty paid.
Technically the market was higher a
the close. there was a buying interest
shown for Cubas at 221ac without sellers
making known price at which they
would sell. New Orleans refiners have
paid 22 &c c. and {. for Cubas. Local re
New-York tribune., 1920-05-20
Trust and Surety Companies
Insurance Companies

fSee New York Title and Mortgage
includes American Trust Compa
NJ
Perth Amboy evening news., 1920-05-28
PERTH ANDoY EVENING NEWS. FRIDAY. MAY Is. 1920

Lexington viii be a whale of a ship.
1T Will displace 43. 200 tons and win
have the power of 10000 horses, as
measured in mechanical terms. Its
length of s74 feet is within &c feet of
the iength-of the Leviathsn, monster
passenger liner. The 101.4 feet OF
width of the Lexington will make that
floating u platform broader than
any passenger ship.
The Lexington. which is to be equip
ped with e~lectric drive, will attain a
speed Of IS knots. This crusier speed,
higher than that of many destroyers,
Is the object of much of the designing
that entered into the creation of the
Lexington class. Armor will be sac
rihced TO make possible the IS knot
Perth Amboy evening news., 1920-05-28

The Carteret ferry has opened for
the coming summer season.
David Murphy moved yesterday
from Staten Island to Linoleumville.
Bernard Kahn has remodelled the
by fire.
William Dalton was a New York
visitor yesterday.
The Roosevelt Post of the Ameri-
can Legion has a drive on for mem
bers who served during the late world
war. The charter has closed with the
present membership. The officers
chosen are: Edward J. Dolan, COM
mander: Charles Rapp. vice comman-
der: finance officer. William Bishop:
Edward A. Lloyd, adiutant; Nicholas
Sullivan. insurance officer: John II.
Masbach, entertainment officer, and