davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1920-06-20
FINANCING
FOR u. S. RUBBER

Owing to the unsettled conditions
Of and outlook for the security
market. the directors of United
States Rubber have decided. for the
time being at least. to table con-
sfderation Of the financing plan.
conceived few months ago with
the idea of eliminating the fioatine
debt and providing additional
working capital to handle th,.
years enormous business and plan,
expansion.
The company is, borrowing about
$2o.oo0.ooo and Is running into the
period when the, floating debt in
creases. since II does not begin to
cash In heavily on footwear until
fall.
This Is not large aggregate Of
borrowing for a concern of its sire
and the directors are not moved to
wipe 1t Off the\slate except through
the issue of Junior securities, the
market for which, at the moment
Is not all II might be.
United States Rubber Is stflf
keyed up for a record turnover this
year, and the sales volume should
approach $3oo.ooo.ooo. Every efror,
Is being made to rush the building
program of the tire company SO
that the capacity. by early next
year. wa be doubled
The Washington herald., 1920-06-20
STEEL AND TUBE EARNINGS.

Earnings of the Steel and TUBE
Company of America fell off sharp
ly in 1919. according to the annual
report issued recently which
showed net profits after fixed
charges of s3,962.445, compared
with s7,S77.317 in 1918. Gross sales
amounted to s44.120,605, compared
with s5s.o5S.5sS the preceding year.
Gross profits after Federal taxes
were s6.0S0.s15, against ss,7os,71s
in 1918. The report shows that
gross earnings after Federal taxes
for the first four months Of the
current year amounted to $3,56s,464.
The report says: THE year 1918
presented most unusual problems,
beginning with a period of read
justment from wartime conditions.
serious embarrassment throushout
the year due to inadequate trans
portation facilities. and ending with
labor troubles. Taking all these
circumstances into consideration.
the results of the years operations
must be considered as highly satis-
factory"
Unified orders on the books of
the companyt at the end of 1918
amounted to $4,000 tons of pipe,
steel and pig iron. which more than
covered the company's production
for the first half of 1920.
The Washington herald., 1920-06-20
THE DOLLAR In FOREIGN EXCHANGE.
BANK CLEARINGS.
ruished By American Security Trust Company

While substantial gains in bank
clearings continue to be reported
by a number OF important centers,
the tendency. as a whole. is now
toward contraction, the aggregate
at twenty-one leading cities in the
United States last week, being
a decrease of OIL per
cent from that Of the same week
last year. This loss Is mainly due
TO the falling of at New York City
the total at the metropolis amount
ing 10 S4,ss5.323.37S. or so per cent
less than in 1919, and which large
ly reflects the shrinkage in opera
tions on the Stock Exchange and IN
other speculative markets. as wen
as some quieting down in certain
commercial and industrial channels.
The contraction at New York, now
ever, is nearly offset by the favor
able exhibit made by the majority
of the remaining cities. at which
the clearings Of $3.32o.52o,I43 are
80 per cent more than a year ago.
Comparisons with the corresponding
week in 1918 are almost uniformly
Average daily bank clearings tor
the year to date. are given peio"
for three years: ,o
The Washington herald., 1920-06-20
FUEL ONLY SOLUTION
TO STEEL SITUATION

For many weeks the coal and
coke supply will be the key to the
whole iron and steel situation, ac-
cording to the weekly summary in
the current issue of THE Iron
Age No signs appear that any
marked change is impending in the
relation of output and consumption,
the paper says. Basic pig iron has
advanced so cents a ton. while coke
has gone up 81 a ton, It is said.
Consumers who are wrestling
with the most difficult situation in
all their experience are still pug
zled by the large production figures
and the smallness of the visible
supply of finished steel of nearly
all descriptions" the paper says.
The May output of steel ingots,
partly estimated, was about AGO.
600 tons, a gain of 10 per cent from
April. and the industry was sur
prised that the total for the past
five months was at a yearly rate of
41,400,000 tons, pointing to the pos
sibility that 1920 may yet be one of
the three great years in steel.
Cancellations of Japanese busi-
ness are apparently swelling in
volume, but many American sellers
as yet find no reason to accep,
them. Failure to renew satisfac-
tory credits may prove the determ-
ming factor. There is little dis
turbance. as the Dutch East Indies
and even Europe have absorbed
most of the reflections.
"Slowness In the delivery of coke
and its very high price have
caused embarrassment to numerous
furnaces and unless deliveries inn
prove several will become inactive
at an carly date. Beth francs and
foundry cokes have advanced at
least 81 per ton and some sales
have been made at still higher
prices"
The Washington herald., 1920-06-20
BOND MARKET
WITHOUT LIFE
Prices During Past Week
Displayed Tendency to
Seek Lower Levels.
NEW OFFERINGS SMALL
Bankers Reluctant to Flood
Market in Its Present
Top-heayy Condition.
NEW OFFERINGS SMALL

There was very little Of interest
In the bond market during the past
week. aside from a tendency to-
ward irregularity. with some issues
selling at new low levels. while
others scored moderate gains as
compared with the final Quotations
OF last week. The PennsyIyania
railroad Company Is were slightly
easier which created some surprise
because OF the firm levels which
nave been maintained by those is
sues since they were originally
placed with investors. The higher
interest rates which obtained prior
10 the June Is income tax date.
no doubt had some influence over
the bond market. but the indica-
lions now are that money will be
easier for a time which should he
renected to some extent in the bond
market.
Bondmen, however. insist that
there will be no real general un-
ward movement in bond market
prices until such time as there has
been a drastic downward revision
OF government taxation which has
proven SO burdensome to the pub
lie for a considerable period OF
time. High taxes have driven the
investor Of big means out of the
market, except for the fully tax
exempt issues, and while the gem
eral public or so-called small in
vestor had been enabled to pick up
securities at bargain counter prices.
IL Is recognized that the buying
from this source is not sufficient in
volume to permit a steady tone. In
normal times. when wealthy inves-
tors are actively identified with
bond market affairs. individual
transactions in many instances are
OF greater Importance than pur-
chases at the moment by a large
number Of individuals.
One OF the leading investment
houses Of this city for several
months past has noticed a falling
on in its so-called large sales of
securities. although the number of
its customers from day to day has
shown an appreciable increase. In
a way this is looked upon with IA
vor because 1t reflects a wider dis
tribution of securities than hereto
fore. but IL is not a stabilizing in
huence in the sense Of maintaining
a proper equilibrium in the bond
market Therefore, hopes are en-
tertained by the leading bond ex-
perts that the time will soon arrive
when new legislation has been
enacted calling for elimination OF
the preset excessive surtax.
Only a few fresh offerings of Sc
curities were brought out during
the past week, although il was re-
ported that a number of transac-
tions are under way, the most i'm
portant of which is that of the
Great Northern Railway Company
involving a total of around s2O,-
100000 to provide for the maturity
OF similar amount of three-year
notes next September. Before the
coming summer is over il is not i'm
probable that there will be a con-
siderable amount of new securities
offered for subscription, as it is
well known that numerous corpor-
ations are in need of fresh funds
for the conduct of their affairs, but
for the moment the market ap-
pears to be suffering from indiges-
tion as a result of the numerous
new issues which have been Of
fered.
The Washington herald., 1920-06-20
INVINCIBLE OIL.

The earnings record Of the In
vincible Oil Corporation since the
first of the year shows a remark
able record of progressive in
creases. The net income for the
four months ended April so before
provision for depletion and depre-
citation amounted to s3,30l,267. of
which January contributed $780,
ASS, February s527.346. March ST.
o45.073 and April s1.29s,362. Much
importance is attached by inter-
ests of the company to the con-
templated drilling operations in
Arkansas with the Standard Oil
Company of Louisiana. If the ex-
pectations of both companies are
realized earnings will be at a con-
siderah)y greater rate than at
present.
The Washington herald., 1920-06-20
ANN ARBoR EARNINGS.

Net corporate income of the Ann
Arbor Railroad in 1919 increased
from a deficit of $15,s69 to $5l,l5f,
according to the annual report Is
sued recently. The income was
equivalent to y1.27 share earned
on the s4.oo0.eoo preferred stock.
Excluding q net debit balance OF
$71.317 charged in the account for
the period prior to January /, 1918,
earnings would show $3.06 a share
on the preferred stock, as compared
with $3.s3 on the same basis in
1913
Federal operating account shows
net income Of ss4s.4s4, as compared
with Federal compensation OF $685.
900, or . profit of $11s.4s4 for the
governnAl II the road had had
the benefit Of actual earnings the
result for the year would have been
S1.o4 share earned on the s3.25o.-
0o0 common stock after allowing s
Per cent for the preferred stock.
The Washington herald., 1920-06-20
CORN MARKET.

Chicago, June 1s.-The corn mar
ket bulged during the last half
hour of trading today. but the close
was slightly below the top prices
of the day. The finish was IL to
2k cents higher than the previous
days close. The feature Of the
day was a coup executed by the
bulls. They put heavy buying or
ders in the market late in the ses-
sion and forced locals who had been
selling short all day to cover in
competition with them. On the
bulge profit taking by local profess
sionals supplied buyers with Of
ferings.
Little activity was shown in the
corn market but the undertone was
strong and shortly after the start
the July sold at the highest price
on the CROP, while September
equaled the top point. There was
a fair commission house demand in
evidence throughout the greater
part of the session. Offerings were
exceedingly light and came princi-
pally from locals.
The Washington herald., 1920-06-20
Committee on Valuation Places Roads
Worth Far Beyond Capitalization

be radical. But, IL the reorganized
Interstate Commerce Commission
continues. as IT has apparently be-
gun. to interpret in a broad and
liberal spirit the new authority with
which II is clothed. and resolutely
approaches the solution of the rail-
road problem, II will not hesitate
to make the necessary readjust-
ment merely because unprecedent-
edly large rate increases are in
volved.
While 1t may be unreasonable to
expect that the commission will
grant all that the railroads ask, 1t
Is impossible to escape the conclu-
sion that substantial provision will
be made for satisfying the claims
OF justice in respect to the capital
invested in this essential industry.
The Washington herald., 1920-06-20
FAILURES LAST WEEK.

Commercial failures last week In
the United States are 152 against
17S the previous week. 101 in the
preceding week, and 11o the corre-
spending week last year. Failures
in Canada number II against 10
the previous week. the preceding
week and g. last year. OF failures
last week in tho United States 81
We're in the East, 80 South. Is
West. and IS in the Pacific States
and IS reported liabilities of $4,000
or more, against 81 the previous
The Washington herald., 1920-06-20
PHILADELrHIA COMPANY.

Pittsburg, June 1s.-The. Phila-
deiphia Company today declared
the regular quarterly. dividend of
II per cent on the common stock,
payable July 81 to stockholders of
record July 10.
The Washington herald., 1920-06-20
DOME MINES.

New York. June 19.-The Dome
Mines today declared the usual
quarterly dividend of IS cents q
share payable July 20 to stock
holders OF record June 90.
The Washington herald., 1920-06-20
Local Securities.

Washiaetss sesek nxehanss.
Furnished by Moersssa 9 rinse>.
Vsstafieas fsF ls7o 70 oates
The Washington herald., 1920-06-20
Rails Favored.

Railroad stocks are looked upon
by many careful students of stock
market affairs as being in line for
a seasonal upward movement in Ju-
ly, but there has been almost COM
plete quietude in this group or
stocks for the most part of the
week. The declaration of the reg
ular dividends by both Northern
Pacific and Great Northern set at
rest the bearish rumors which
were current regarding railroad
stocks as a whole, as the general
discussion in the Street prior to
the action of the boards of these
two companies had tended to indi-
cate that these dividends would be
reduced the same as those of the
Chicago and NoFthwestern Railway.
The Washington herald., 1920-06-20
RAILROAD BONDS.
MISCELLANEOUS.

......... 73k N Y. R. r. adj inc 30. 1912.
5...A... 03h Intern Nero. Marine 6s, 1941.......
94e...... "a Midvale Steel g. 1885. u
g. ...... 51h U. g. Steel S. 1863 .............. 81
The Washington herald., 1920-06-20
Active New York Stock Exchange Bond.
LIBERTY BONDS.

Is UU1NSSHHD DY Ho0nHEAD MMORD
Nenbsrs New York Stock ExchangsJ
The Washington herald., 1920-06-20

M wAszueror uaAxp WIZ NOT
IIowMeLx AcoxrT ANY ouEsrloN.
The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1920-07-03
Medicine Proved Worth
During Epidemic.
"Sedituss Cough BaIsam" Most
Effective in Combating Flu.

The medicine which proved most
effective in the recent Flu" epidemic
is a product of Atlantic City and is
known as "Sedituss Cough Balsam."
1t was used extensively, with wonder
full results. 1t is pleasant to take, and
is very good for children. 1t is valua-
BILE as a sedatiye in affections of the
throat, relieving obstinate coughs by
promoting expectoration, and serving
as a calmative in bronchial irritation.
For coughs, colds, bronchitis, in1uen-
"a, loss of voice, hoarseness and huski-
ness, it has absolutely no superior.
The genuine "Sedituss Cough Balsam"
may be secured in three-ounce bottles
for 35 cents at the Arctic Drug Shop,
1929 Arctic Avenue, Atlantic City. Be
sure to get the genuine; accept no
substitute, adv.
The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1920-07-03

edy at once. 1t costs but tri1e and
is easy to take. You will be surprised
and delighted at its prompt work in
Kidding you of the misery that ac-
companies stomach trouble.
Be sure to insist on NJ. D. l. It's
a remedy you'll be glad to recommend
For sale by H. J. Dennis & Co., II
S. Main street, Pleasantyille. adv.
The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1920-07-03

OflcI-idheIS DuI " HuceI int man VI
whom we have heard so much, and to
acquaint him with the Wearever Tire
company"
I'm not in a order-giving mood
this morning, but I am glad to talk
with you"
81 don't know our requirements,
Newcomb, but I Will make Inquiries"
Here are your requirements" and
Newcomb drew from his pocket the
figures which the master mechanic had
given him.
"There was more in your friendly
visit than you at first intimated, Mr..
Newcomb." The commissioner smiled
as he took the paper. "What are your
terms?"
"Thank you, Mr.. Grayce. May |
suggest as little delay as possible I
should be sorry to come In tomorrow
with a revised price list; yet, as I
have explained, quotations today are
hardly secure over night. Good morn
ing to you" Mr.. Newcomb extended
his hand.
you're right, Newcomb. I will sign
an order now and send in the requisi-
ton today"
Before Deane realized 1t, an order
for several thousand dollars had been
booked, the goodbys said, and he and
Bert Newcomb were leaving the state
house.
you're a wonder" the boy enthusi-
astically confided to his comrade.
What I have done, you can do,
Cameron"
An hour later he and Deane
emerged from the office of the Amkeg
mills, and Deane had the miracle of
a good-sized order. Later in the day
a second order fell to his credit, so the
days work filed him with an incred-
ible sense of satisfaction.
The next morning as he and Mr..
Newcomb were leaving the Office, Mr..
Harding called them.
"Newcomb. we have an order of
Deane's for the state. Fine! But
how happens it that the copy the COM
missioner sent bears your name, while
our copy bears Deane's?"
Deane's heart sank but "Ready-
Salesman Newcomb," as he was some
times called, answered:
at so happens, Mr.. Harding, that
without Deane's assistance, l would
never had landed that man. l was on
my mettle to show Deane, and in
showing him 1 landed the commits
sioner. Cameron was the real force
behihd the order" The friendly smile
that Cameron rad by now come to
know well, worked its charm with Mr..
Harding.
Gail right. Newcomb, but how about
the other orders?'
Absolutely bona fde Cameron or
ders. those-he did all the talking-I
was his silent partner"
Good work, Deane; keep this up
fr a month, and you can speak for
that minister"
"Thank you. =" was all Deane re-
piled, but life had taken on a new
i'r aring with his chiefs words. and
'eff the office with a high heart
The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1920-07-03
MEANS TO AN END
BY A E. RILEY.

o. 1920. by Mcclure Newspaper Syndicate
Deane Cameron was discouraged.
Fol a week he had entered office after
office hoping for an order which never
materialized. Nor did it help matters.
any to realize that successful sales
manship was not his ultimate goal,
simply the means to the end the end
being to make Katherine Harding his
wife. 1t had been required of him
first to show that he could care for
her at least in the fairly modest way
that her parents had started 2a years
before.
Her father, Deane's chief, was gen
eral manager of the Weareyer Tire
company.
Today the company's special repre-
sentative was to accompany Deane.
L spy upon me. l suppose" thought
he, bitterly, receiving with no very
good grace Mr.. Harding's statement
that NewcOmb could sell ice to the
Eskimos. Even the broad smile, the
firm handclasp and the honest friend
liness with which Special Salesman
Newcomb greeted him could not dispel
Deane's gloom.
81 am supposed to call on Commits
sioner Grayce; but what's the use?
I've been there three times and could
not wen get an audience"
"Have you seen his master mechan-
ic?"
"What for?"
Through talking with him we will
know what the requirements are"
Inquiry brought them to the master
mechanic, who outlined briefly what
was needed.
Don't think you'll get a look-in,
though. The commissioner has bought
only of the Glidewell people up to
now"
up to now is right-watch the-fu-
ture," Newcomb confidently remarked
as he left with Deane,, who was learn
ing his first lesson in craftsmanship.
'"That fellow met US man to man..
but they say the commissioner is a
bear" Deane vouchsafed.
The confidence in Bert Newcomb's
manner was in a slight degree re-
lected in Deane's as the two men en-
tered the lobby of the commissioners
office.
commissioners busy" a boy la
conically informed them.
1--WE will wait" answered New
comb. his I'M conveying the i'm
preston hat two important men We're
being kept waitingsThe boy took
their names into de ipnaf ssmetRIa, to
The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1920-07-03
HEADACHY FOLKS
QUICKLY find RELIEF
Their Troubles Go When They Begir
This Splendid Remedy.

The most stubborn cases of indiges-
ton can be cured. Stomach disorders
New-York tribune., 1920-08-02
u. S. Officials admit
They Haue No Evidence
P0115i Is q Criminal

Daniel j. Gallagher, United States
District Attorney of Boston, whose
office is auditing the books of Charles
Ponzi, get-richquick wizard, is here
to attend the supreme convention of
the Knights of Columbus. Mr. Gal
lagher presided at a committee meet
ing yesterday at the Hotel Commodore.
Joseph c. Pelletier, Boston District
Attorney, who brought Ponzi into the
limelight by suggesting that he SUBJ
nit to an audit, is also here, attend
ing the convention as one of the
supreme directors.
Mr.. Gallagher said that he had not
personally examined Ponzi's books.
and that he could say nothing about
them until the audit had been fin
ished. How long this will be he does
not know
According to the United States Dis
trict Attorney, the government has no
criminal evidence against Ponzi, but
naturally is incredulous of stories of
interest at the rate of 400 per cent.
Mr.. Gallagher confirmed stories of
street demonstrations in Ponzi's be-
half and remarked that Ponzi was
individual.
New-York tribune., 1920-08-02
bedtime Stories
teddy Fox Trusts His Nose
E5y Thornton W. Burgess
Whote'er he does, aUhere'er he goes
A Foo aoiH ol,0oys trust his nose

Jolly, round, red Mr.. Sun had gone
to bed behind the Purple Hills. The
Black Shadows were creeping across
the Green Meadows and all through
nc Green Forest. 2eddy Fox watched
them from the edge OF the Old Pasture
re was waiting for it to get quite dark
AS ne waited ne grinned
~ nothing has happened to Peter
Rabbit, and | don't believe anything
has, he has simply been staving. at
rome n IN the dear Old Briar- patch. And
II Peter has been staying at home in
the Old Brlar-patch all these days and
nights 1T is for a reason There ;s
something there that interests him
more than .gadding about gossipinr,
and it must be something very inter.
esting indeed to do that. | have an
IDEA that Peter has a secret and that
that. secret will interest me quite as
much as it does Peter"
suit him Reddy started toward the
Old Brar- patch He trotted swiftlv
until he could see just ahead of him
what looked like q bigger, backer
Shadow in the midst Of the Black
Shadows he had watched Green ont
from the Purple Hills. He knew #
wasn't Shadow at all but the old
bflar-patch itself. Then Reddy beea,,
70 move very slowly and cautiously,
crouching low and every two or three
steps stopping to look and listen.
Reddy knew exactly where were the
patches Of sweet clover nearest The
old brlar- patch and it was toward the
nearest Of these that he now crept.
You see Reddy makes it his business
TO know such things as this. He makes
II hls business to know all about everv
thlng that interests those in whom he
IS hlmsef interested He is alwav.
interested in Peter and Mrs. Peter.
and so he knows all about their favor,
tie clover patches and other eating
places. He knows just which ones are
wlthln jump or two OF the Old Brjar-
patch and which ones are far enough
away to make them bit dangerous
for careless young Rabbit.
The clover patches nearest the Old
brlar-patch were the ones he was in
terested in now. He examined the first
one very carefully, smelling the ground
all about between it and the edge Of
the Old Briar-patch. He did the same
thing at the next patch of clover, Roth
times he shook his head in disappoint-
ment.
But at the third patch Of sweet
clover his eyes suddenly CLEANED with
satisfaction and eagerness. Reddy
g7i1ne', fnAt wonderful nose Of his
New-York tribune., 1920-08-02

had found the fresh scent of Rabbi;
and 1T was young Rabbit. very young
happ't. Just as thought" muttere d
Rcddy Peter has a family and that
IS why ne is staying at home. | won
der how big that family is. must
find out"
Slowly and carefully Reddy went all
around that patch of clover, his nose
IN the damp grass. In one spot the
Rabbit scent was very strong. "This
IS where Peter sat keeping watch u
thought Reddy. and grinned as he pic
ttured to himself Peter sitting Up look
ing this way and that way for danger
While the little Bunnies ate their fll.
He found the scent of Mrs. Peter and
recognized it at once
But what interested him most was
the faint scent of young Rabbits all
about. Slowly. patiently, carefully he
followed each little line Of scent.
Often they were so mixed together
that he couldn't tell them apart. Then
they would separate. Reddy was in no
hurry. He took his time and he
worked carefully.
At last he was satisfied. He glanced
once toward the Old Briar-patch.
grinned. and then trotted away a.
silently as he had come. "Six." said
Reddy: six, and no one knows about
them but me-"
Copyright. 1929. by T. W. Burges.>
=, The next story: Freddy Fox Makes