davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-08-28
Uneven Tone i'm
Stock Market as
Money Rates Rise
Borrowers at Stock Exchange
Pay 10 Per Cent for Call
Loans; Motor Shares Are
Weak; Gold Coming

All things considered the stock mar
ket gave a fairly good account of it.
self yesterday. 1t had to contend
with advancing call money rates right
from the opening, with renewal
rate OF per cent and high rate for
the day of 10 per cent, yet stocks
with Il few notable exceptions, man.
aged to hold their own. and in many
cases showed substantial net gains at
the close. The market was mainly
professional and consisted of alternat-
ing up and down, fluctuations which,
in measure, broke the continuity of
the rally begun earlier in the week.
The Street talked great deal about
the credit situation and the trading
element was not certain whether to
put bullish or bearsh construction
upon the statement of Governor Hard
ing, of -he Fedc-al Reserve Board.
denying that the BOARD was discrim
mating in the matter of credit ex-
tension as between non-essential and
essential industries, The head of
the Reserve Board made it clear, how
ever, that measures adopted some
months ago for curtailing undue cx-
tension Of credit are still effective.
While the majority Of stocks moved
within comparatively narrow limits,
the motor and motor accessory shares
constituted a markedly weak group.
Sharp declines were recorded by
and stromberg Carburetor. There
were rumors afloat few days ago
that the Reserve Bank authorities
would take steps to insure the motor
industry more liberal treatment with
regard to credit supplies, and disap-
pointment over the failure of the
board to announce such a move prob
ably had something to do with the de-
cline in these shares. The appoint
ment Of a receiver for Bethlehem
Motors q few days ago has had an
for the other motor shares, induc-
ing some liquidation and encouraging
the professional bears.
Another weak group yesterday was
the sugar shares, which are still suf-
fering from the effects of the slump
in raw sugar. Special weakness in
Replogle Steel was attributed to the
publication of the semi-annual report,
which showed earnings of only 90
cents share. Other steel shares
maintained a fair degree of firmness.
In the rail department a sharp ad-
vance in Union Pacific attracted at
tention.
The news that s5,Oo0,oo0 in gold is
on the high seas en- route to the
United States from France did not
come until after the close of the mar
ket. This shipment is believed to be
the forerunner of substantial move
ment, as much as $50,OoO,00 being ex-
pected in the course of the next few
weeks. The gold will 60 toward pay
ing the French share of the Anglo
French loan maturity in October This
amount of gold can be used to ad-
vantage here to strengthen bank re-
serves, at this time particularly.
New-York tribune., 1920-08-28
Replogle Steel Shows
Earnings of 9Oc. Share
Net Income for Six Months Is
$224,629 Delay in Fur

mace Operation

Net income for the six months end
ed June 80 of the Replogle Steel Com
pany, according to financial state
ment issued yesterday, was 1924, ,629,
equivalent to 80 cents a share on the
100000 outstanding shares of no par
value.
Income was derived from securities
owned and the interest and discount
account. Regarding the statement and
the outlook of the company for the
future, w. H. Brevoort, president,
says:
"The statement reflects only inter-
est on bank balances, call loans and
bonds. Owing to unavoidable delays
in securing fabricated materials, the
new blast furnaces of the Wharton
Steel Company, owned by Replogle,
will not be in operation until the last
of the year. An average production Of
1000 tons pig iron daily will be as
sured.
THE development of the company's
iron ore mines has been satisfactory
and the ore reserves augmented by
extensive underground work.
More than 100000 tons of mined
ere are in reserve in the slopes. The
new Replogle mill and reduction works
are working three shifts a day, pro-
ducing and stocking at the blast fur
naces concentrate averaing SO per cent.
iron with low PHOSPHORUS content"
New-York tribune., 1920-08-28
$219, 900, 900 Repaid to
War Finance Corporation
Railroads Reduce Loans s64,.
6OO,OOO; Public Utilities Pay
ments Below Expectation

WASHINGTON, Aug. 27.-Loans Of
the War Finance Corporation have been
reduced $219,9O0,000 since it BEGAN
liquidation of its affairs. The total
outstanding loans August 81 amounted
to S132,2oo,0O0, according to figure 8
made public to-day by Managing Di-
rector Mclean.
Advances to railroads, which at the
highest point aggregated $204, TOO 600.
have been reduced by repayment to
$64,600,000. Virtually all Of those out
standing are call loans and officials
anticipate a further substantial reduc-
tion before the new year
Cattle loans, made principallv
through Kansas City and Dallas cattle
loan agencies have been largely re-
Banks and bankers to whom financial
help was given have returned all but
$158,000 of their borrowings, which ag-
gregated at one time more than
S4,700, 900.
Public utilities, to which nearly s4o.-
100000 was lent during the war, have
repaid less than half and are the only
group which has not liquidated to the
extent expected. The amount unpaid
is $21,233,0oo Other industrial cor
porations have reduced their original
borrowings from s23,S0G 900 to $3.50 900.
The figures reveal that earnings of
the corporation for the first half of
the year were $12,477,O00, against
about S10,000,000 for the same six
months in 1919.
New-York tribune., 1920-08-28
Realizing Sales
Cause Recession
On Curb Market
Car, Light & Power Contin.
ues to Attract Attention:
Homer Field Oils Active:
Industrials Fairly Steady

Recessions in many active issues on
the curb market yesterday were at
tributed to realizing sales on the
recent upturn rather than to profess
sional pressure Of bearish sentiment.
Many operators continued outwardly
optimistic of better times and pre-
dicted a sustained bullish market in
the not distant future.
Trading in Car Light and Power con-
tinued to attract most attention in the
Industrial group, while Homer field oils
were the feature of the petroleum
stocks. On the whole, industrials
acted fairly we'll, most Of the declines
being small on light trading. Aetna
Explosives sagged under 10, while
Firestone Tire eased off points, to 11s.
on a small turnover. General Asphalt
moved within a narrow range and
closed at fractional net decline.
Hercules Paper was slightly lower,
while North American Pulp and Paper
held steady, at a fraction above g..
Car Light and Power sold as high as
3 during the day, but at the close was
virtually unchanged at 2Ss.
A sale of share of Stutz Motors at
220 was reported, with bid price Of
215 and an asking quotation of 230.
OIndll IeCeSSlOIiS WtIc uOI uuSOlililiVl
IN the petroleum group, Simms Petro-
leum yielding fractionally On large
turnover. White Oil was active, SELL
ing up to 20 at one time, but declining
to 1875 on the final sale. Midwest Re-
fining was steady, Maracaibo slightly
stronger and Merritt fractionally
weaker. Carib Syndicate yielded to
11h.
Mining shares were again active,
moving irregularly in narrow limits.
Nipissing Mines Company has declared
an extra dividend of per cent, in ad-
dition to the regular quarterly divi-
dend of per cent, both payable Octo-
Der 20, to stock of record September
80. The company reports as of August
26: Cash on hand, Liberty bonds, etc,
$3,515,037; with value Of bullion and
ore in hand and process, at mines and
mills, as we'll as in transit, estimated
at $1,623,00O.
New-York tribune., 1920-08-28
Financial Items

Tho Liberty National Bank of Nav vo~L
has been appointed registrar Of penn
puolio Service Corporation Z per cent pre-. pre-.
James e. Wilson. president of Wilson
the ninth annual convention Of the IN.
vcstment Bankers Association Of America
IN Boston. October 4. and S. Mr.. VIII
situation.
The directors OF the Standard Bank
OF South America. Ltd. have declared an
Interim dividend at tho rate OF IL per
cent per annum. less income tax The
bank'a Investments stand In the books at
loss than market value as at juno 80.
Al Other usual and necessary provisions
New-York tribune., 1920-08-28
In Wall Street
Call Money Rates Up

In it's present phase the call money
market suggests the window display OF
bargain store that offers attractive
eemmodities at SO cents up. The
prospective purchaser on entering the
store usually ascertains that the "up"
is more significant than the 1913 cents"
Since the first Of the month the per
cent sign has been hanging out allur-
ingly in the call money mart, but,
whenever there is any heightened at
tempt to borrow at call, as result Of
an improvement in security prices, the
rate goes up. 1t scared to 10 per cent
yesterday. Of course, the theoretical
ly minded can say that the increased
demand caused the rate to rise, but
that explanation does not spoil the
bargain store analogy. The per cent
renewal rate was the highest since
August 8.
New-York tribune., 1920-08-28
New York Metal Market

On the New York Metal Exchange
Class A tin was quoted 400 and
lass ass h 44.00. Straits shipments
: cc, 4cnoo, the. market being quiet but firm
at 1850. Sales, so tons December ~
iS.oo. Lead quiet, at 8.75 for spot
nero and 8.25 in East St. Louis. Zinc
$50, and at East St. Louis 500. the
market being easy. London cables to
the Metal Exchange reported standard
5in' spot, ETA 1Ss, and futures 1882 5s
sales 100 tons spot and 200 tons f,,.
lures. Copper, standard spot, s93. and
iutures $50 los. Sales $50 tons spot
and ane ev tons futures. Lead, spot, 23f
c.S c %, and futures f36. Zinc. spot
gao. and futures cal los. epoe
New-York tribune., 1920-08-28
Road Postpones Interest

The Atlanta, Birmingham & Atlantic
halfway in statement to holders of
its n1teen-year mortgage 5 per cent
bonds explained that interest on these
bonds, which is due September 1. will
not be paid at that time, because the
company Is at present unable to de-
termlne whether net income sufficient
to cover interest is available. Accounts
with the railroad administration have
not yet been settled, and the amount
OF guaranty due the company under
the Esch-Cummings act has not vet
been learned.
New-York tribune., 1920-08-28
Alaskan 1920 Gold Yield
Shows Considerable Decline

DAWSON, Y. T., Aug. 27.-Gold
yield of placer camps in the Yukon
Valley for 1920 is estimated at $4,485,-
600 by mining company officials here
to-day. Camps in the interior of
Alaska are expected to yield $685.
O00
There has been considerable
shrnkage in the output, it was stated,
owing to a dry season and the de-
crease in the purchasing power of
gold
New-York tribune., 1920-08-28
Shows Good Earnings
Duluth & Iron Range Railroad
Nets &C6 A6 Cl.

Net corporate income of the Du-
,,a ,utn Iron Range Railroad for the
and taxes, was $1,720,4s4. EQUIVALENT
TO $26.46 share earned on the Sd
$4,000 capital stock, according to a
financial statement issued Yesterday.
.. This compares with net income Of
Sl,ool ;439. or s25.56 share. in the
preceding year. Federal compensa-
ton was $2,365,241, while gross income
was was $2,57S.652, little less than sIoO.-
uoo below the figures for 1917, but
nearly $4,000 ahead Of 1918
New-York tribune., 1920-08-28
Discrimination in Credit Grants

Governor Harding's fresh denial of
the report that the Federal Reserve
Board had rigidly classified industries
into essential and non-essential groups
ought to leave no doubt as to the
matter. However, in the curtailment
of credit in recent months, certain in
dustries, according to their leaders,
have suffered most. Men in the auto
motive industry feel. that they have
been Disseminated against. If this is
true, Governor Harding's assurances
make it plain that the Reserve Board
has not concretely ordered discrimina-
tion of this kind.
New-York tribune., 1920-08-28
Bond Market Firm

Because of reasons Of time, the bond
market has been quiet all week, as
was to be expected toward the close
of August. But the tone of the mar
ket has been firm. Bond men are dis
tinctly hopeful about the outlook for
investment securities, which they pre-
dict will benefit greatly from the read
justment in industry and the antici-
pated ultimate easing in money rates.
New-York tribune., 1920-08-28
Dividends
INITIAL

Wheeling Steel Corporation.-An initial
dividend of l per cent d share has been
declared, payable November /, to stock
holders Of record October 15 in addition
to the cash dividends of per cent, on the
preferred A and 21s per cent on the pre-
ferred B stocks. both payable October /
to stockholders of record September IS.
Nipissing Mines Company Ltd.-An ex-
ira dividend of per cent a share has
been declared. in addition to the regular
quarterly dividend OF per cent, both
payable October 20 to stockholders Of rec
Todd Shipynrds Corporation.-An extra
dividend of $2.25 share has been de-
cared in addition to the regular quarter
ly dividend Of $l.75, both payable Sep
tember 20 to stockholders Of record Sep
tember g.
New-York tribune., 1920-08-28
Paris Market Firm,

PARIS, Aug. 27.-Prices were firm
on the Bourse to-day Three per cent
rentes. 56 francs 40 centimes. Ex-
change on London, 81 francs 20 cen
Iimes' Five per cent loan, 81 francs
oV centlmes. The dollar was quoted
at IA francs 36 centimes.
New-York tribune., 1920-08-28
Stocks Ex-Dividend
United Light & Railways

United Light & Railways Co. and
subsidiaries for twelve months ended
July 81 reported yesterday the larg-
est gross business in their history,
amounting to $11,17S,3O3, against So
month period Net earnings available
for dividends amounted to 1892, ,566.
against sl,15s.126 q year ago.
New-York tribune., 1920-08-28
Money and Credit

Call loans renewed at per cent
yesterday, an advance of l per cent
from the day before. In the afternoon
the rate rose further, finally getting
up to 10 per cent before the close.
This was new high for the month.
Yester- Year
day. ago.
On mixed collateral. :. 8 6
On industrial collateral 8 6
Time money (mixed collateraD:
Sixty days .s@sM 5A@e
Four months ...S@Sk 5N@6
Four to six months..8@Sh 5%@6
Bank Clearings-Bank clearings at
New York yesterday were: Exchanges,
$673,772,658; balances, $65,958,311.
Silver-London, Sid; New York,
domestic, 99hc; foreign, 97Ac; Mexi-
can dollars, 74Mc.
Sub-Treasury-United States fund
reserve credit balances, s63,545,145.
Canadian Exchange-New York funds
in Montreal, $125 premium per $1,000;
Montreal funds in New York, $1l1.1i
discount per $1,000.
New-York tribune., 1920-08-28
Replogle Earnings

The decline of Replogle Steel to
1875, off 2s points, yesterday is not
surprising, in view of the report made
public covering operations for the first
six months of the year. The income,
which was derived from investment,
was sufficient to make earnings per
share reach only 80 cents. The stock
crept up from 341a this year to 93L
then reacted to 65, and has recovered
to 80.
New-York tribune., 1920-08-28
Incoming Gold and the Exchanges

The effect of the report that the in
fux OF gold from France in connection
with the Anglo-French maturity has
begun on the course of foreign ex-
change fluctuations will be watched
with acute interest. The exchanges
have been nervous this week, with
traders hesitant to take definite posi-
flon. The flow of gold from Britain
had helpful sentimental effect IN the
exchanges.
New-York tribune., 1920-08-28
Depression in Steel7

Has the business depression which
has been felt for weeks in the textile
and automobile fields worked back to
the steel mills? The financial district
has heard rumors of threatened unem-
ployment in steel-producing districts
Tor several days. and the report yester-
day from Massillon, Ohio, that approx
mately 600 employees of the Central
Steel Company had been laid off did
not come as complete surprise. Lack
OF sufficient orders to keep the plant
IN full operation was the reason given
by the Central company. While many
of the larger companies are believed
to be in better position on untitled
orders, the action of the Massillon
plant is considered significant. Reports
that unemployment in steel districts
are giving government officials at
Washington concern are considered
premature, if not entirely untrue.
New-York tribune., 1920-08-28
Steel Prices

The average price of eight princi
pal iron and steel products now stands
at $84.59 ton compared with SS4.4l
on August II and $84.0l on July 27
The advance this week was due almost
entirely. to jump in the price of Bes-
semer iron from $4840 to S499O
gross gross ton. The average price of the
elgh1 products Is now approximately
$21 ton above the level of vear
ago.
New-York tribune., 1920-08-28
Central Vermont Issue Favored

x %u.nority @ to Issue refunding mortgare
Z, Per eno cent "nn gold bonds to the amount Of
3ral Vermont Railway Company nv esh- en-.
announeea n1ersrs,s Sommsrce commsssion i, was
rmanc. co Sesterday. Approval of the H.
OF bonds has been deferred worth
New-York tribune., 1920-08-28
Consolidated Member Expelled

Winslow l.. Taylor has been ex-
peiied from membership in the Con-
solidated Stock Exchange by the board
OF governors for violation of Section
0, Article III. Of the bylaws Of the
exchange.
New-York tribune., 1920-08-28

LONDON, Aug. 27.-Bar silver sid
per ounce. Bar gold, 115s. Money, 5h
per cent; discount rates, short bills
6H4 per cent, three months bills 6A
Q6 1915 per cent. Gold premium
at Lisbon, 14O.
New-York tribune., 1920-08-28
The Dollar in Foreign Exchange

Sterling exchange turned slightly
easier yesterday, and francs and marks
were also slightly lower. Lire held
steady. After the market closed it
became known that flow of gold from
France in connection with the Anglo
French maturity has started.
Yesterdays closing rates, compared d
with those of year ago, follow:
(Quoted in dollars to the pound,)
New-York tribune., 1920-08-28
London Wool Auctions

LONDON, Aug. 27.-There were
10000 bales offered at the wool auc-
ton sales to-day. Trading was quiet
and prices we're unchanged. Fine
haired nerinos made tho best show
New-York tribune., 1920-08-28
Cautiously Cheerful

Most of the market letters that went
out of Wall Street were inclined to be
cautiously cheerful. In other words,
they represented the brokerage houses
as being hopeful of the immediate
market outlook, but not exactly bullish.
One house said: eve feel we have
passed through the most critical period
and on weak markets conservative pur-
chases are in order" Another said:
"The outlook is rather encouraging, al
though certain Irregularities may from
time to time continue to manifest
themselves" And again: "The credit
and business situation make for eau
ton"
New-York tribune., 1920-08-28
Transactions Yesterday in Listed Stocks
summary of Stock Exchange Dealings

FORK Tribune 1nc.1
Year January to date.
ago. 1920. 1919. 1918.
eo1 400 1888, 100 4o,es3.7oo 1898 200
3es, 300 12s,11s,5oo 1877 ,e24 800 sc, ,s41 800
so1 800 1853 ,o4s, 800 1893, sos, 900 $3.50 900
.. Year age. 1920. 1918.
, $7,2s4, 1000 $2,o1s, ,eo7. 600 81 ,e24 ,s7z, 600
D 1902 700 231 .4Se, 900 24o.773 900
D 1,o3s,o 900 43.os1 900 257, 1927 900
0 e,e31 900 2,4s4, ,1s4 600 1857 600
The St. Johns herald., 1920-10-21
Proceedings of Supervisors.
St. Johns Arizona. Oct. 4th 1920

Board of Supervisors met regular monthly session. this date at 10 o'clock There present Chairman w. H. Gibbons Members Joseph Uda and Burr Porter and B. r. Peterson Clerk.
 Minutes of September meeting read and approved following demands examined and approved and order
The St. Johns herald., 1920-10-21
IN THE SUPERIOR COURT Of Apache County, State
 Of Arizona. NOTICE TO CREDITORS

Estate of Juan B. Gonzales, deceased. Notice is hereby given by the under signed administrator of the estate of Juan B. Gonzales, deceased, to the creditors of and all persons having claims against the said deceased, to exhibit them, with the necessary vouchers, within four months after the first pub- lication of this notice to the said Gilbert E. Greer at his office in St. Johns, Ari- zOna the same being the place for the transaction of the business of said es- tate. in said County of Apache.
 GILBERT E. GREER, Administrator of the estate of Juan B. Gonzales. deceased.
 Dated St Johns, Arizona, this 18th day of September, 1920. s.2S-
The St. Johns herald., 1920-10-21
For Supervisor

I hereby announce my candidacy for County Supervisor, Apache County, re publican ticket. subject to the action of the voters at the General election No vember 2nd, 1920.
 Joy B. Patterson,
 St. Johns, Arizona.
The St. Johns herald., 1920-10-21
County Attorney

I hereby announce my candidacy for County Attorney, Apache Go. republican ticket, subject to the action of the voters at the General election Novem- Der 2nd, 1920.
 Gilbert E. Greer,
 St. Johns, Arizona.
The St. Johns herald., 1920-10-21
For Representative

l hereby announce my candidacy for State Representative, for Apache Coun- ty on the republican ticket, subject to the action of the voters at the General Election November 2nd, 1920
 John H. Udall,
 Hunt, Arizona.
The St. Johns herald., 1920-10-21
For Sheriff

I hereby announce my candidady for Sheriff, Apache County, republican ticket, subject to the action of the voters at the General election Novem- Der End, 1920.
 John E. Edgar,
 St. Johns, Arizona
The St. Johns herald., 1920-10-21
For Recorder

I hereby announce that I am the Re- publican candidate for County Recorder for Apache County, subject to the ap- proval of the voters at the General elect ion Nov. 2, 1920.
 Viola Overson.
 St. Johns, Arizona.
The St. Johns herald., 1920-10-21
For Treasurer

hereby announce that I am the re- publican nominee for County Treasurer for Apache County, subject to the voters at the General Election Novem- Der 2, 1920.
 ABEL ORTEGA,
 St. Johns, Arizona.
The St. Johns herald., 1920-10-21
For Assessor

l announce that I am the republican nominee for Assessor for Apache COun- ty, subject to the action of the voters at the General Election November 2, 1920.
 4. E. THURBER,
 Vernon, Arizona.
The St. Johns herald., 1920-10-21
For County Attorney

announce that am the Democratic nominee for County Attorney, subject to the action of the voters at the Gener- al Election November 2, 1920.
 J. SMITH GIBBONS,
 St. Johns, Arizona.
The St. Johns herald., 1920-10-21
ANNOUNCEMENTS
County Supt. of Schools

I hereby announce that 1 am the Re publican nominee for Superintendent of Schools for Apache county, Subject to the approval of the voters at the Gen. eral Election November 2nd, 1920.
 AMELIA H. GARCIA
 St. Johns, Arizona.
The St. Johns herald., 1920-10-21
For Sheriff

I hereby announce that I am the Democratic candidate for sheriff of Apache county, subject to the voters at the general election Nov 2, 1920.
 J. A. MINER,
 St. Johns Arizonn.
The St. Johns herald., 1920-10-21

Continued next week.)
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-04-14

Mrs. r. L. Hendrickson, 70S
Twsnty-6rst street. formerly Miss
Mary r. Fitzgerald. secretary Of
the Federal System Bakeries Of
America, and said to have been the
highest salaried woman in Dayen-
port and one Of the city's most
prominent business women, has re-
signed her position with that con-
Germ and will become her own
housekeeper at her home in Rock
Island. This city was her home
for many years while she was sec
rotary and treasurer of the Walsh
Construction company.
1t was the administrative work
Of Mrs. Hendrfckson while she was
with the Walsh Construction COM
pany, that drew the attention Of
the Federal Bakeries officials, and
led to her appointment - sscre.
tary and placing In charge of the
Offices in New York. Her bushes.
ability was employed in the organ
ization of the corporation while Il
was in the formative stage. Sht
then came to Davenport with tn
concern and was in charge Of thu
ONCE force there.
She is succeeded by F. ". Hol
stem. Her husband, F. L. Hend
rickson. will maintain his connec
ton with the Federal System.