davidaulloa/AmericanStories huggingface dataset:
Sioux County pioneer. (Fort Yates, Sioux County, N.D.) 1914-1929, 1920-10-14
INITIATED MEASURES
BOARD OF AUDITORS

i he Sco an Ass fsss Y sse9l ss g
include therein the requirement. that
the state board Of auditors shall semi.
vouchers and funds and ascertain the
assets and liabilities Of ali industrial
institutions and make public the re-
suits OF said examination.
Amends Section 389 of the Compiled
Laws Of 1918 80 as to require the stats
board Of auditors to examine and audit
the accounts. books and vouchers. and
ascertain the assets and Liabilities 81
All Industrial institutions ct least, twice
IN each year, and make report thereof
to the Governor, and make the same
Shall said initiated measure be ap.
New-York tribune., 1920-11-27
Stocks Decline
But Refuse to
Break Sharply
Dividend-Paying Rails Are
Higher, Despite the Move
to Capitalize Bearisf Busi-
ness Events

Despite developments in the bust
ness world which operators for the
decline sought to capitalize, industrial
securities moved irregularly yesterday
and tended lower, but did not fall pre-
cipitatcly in price On the other hand,
the dividend paying railroad stocks,
particularly those of corporations own
ing coal lands. we're eagerly bought
and moved higher.
The announcement by Jones &
Laughlin, leading Independent steel
manufacturers, Of a reduction in
prices to the level established by the
means that the long expected yielding
of this basic industry to the influ-
ences of dehation has come The
other independent steel companies, ac-
cording to advices from Pitts burgh,
will probably follow. and efface the
premiums over the scale continued in
effect by the United States Steel Cor
poration. While demand for the baro-
metric metal outstrippcd the supply,
buyers were willing to pay a higher
price to Independents in order to get
deliveries. But now that the effective
calls on the steel mills equal only
about half the capacity of the com
panes, the Steel Corporation, which,
the total output Of steel in this coun-
try, could itself take care of the cur
rent demands. If this is true, the rea-
son for the cut by the independents
is patent.
Apparently depression has restored
state of active competition in the
steel industry. The news that this
condition had become a reality could
hardly have surprised any serious stu
dent of the process of industrial re
adjustment. However, bear traders in
securities took full advantage of the
item, and the stocks Of the steel COM
panies. which have receded strikingly
for weeks. were heavily sold, Pres
sure to a lesser extent was also d-
rected nthe copper stocks, as the
quotation on spot copper dropped to
1874 cents, new low figure for this
movement.
In spite Of the moderate declines
in the stock market. this medium for
the interplay of spectacular forces
seemed conspicuously firm in contrast
TO the commodity exchanges, where
the lowest prices Of the year were
quoted for cotton and grain. Unset
tied financial conditions in Liverpool
and heavy selling originating both from
the South and from professional opera
tors in New York, carried cotton QUOTA
tions down 90 to 145 points for the
day January futures were traded as
low as 1915 cents to the pound. In
the wheat mart, March contracts
slumped to $1.4S bushel, and De-
cember futures to S1.52 bushel Corn
price@ in sympathy. continued to ex-
plore new low levels. In the foreign
exchange market fluctuations were
within narrow boundaries and were
without special signiticance.
New-York tribune., 1920-11-27
Lower Commercial Rate.

Action yesterday by one of the large
national banks in the financial district
in reducing its commercial discount
rate from to per cent was generally
accepted as foreshadowing lowering
Of rates all along the line. Rates on
prime bankers acceptances were re-
duced 7s of per cent by dealers on
Wednesday. In announcing its reduc-
tion in its lending rate to commercial
customers the bank said yesterday:
THE president of one of the largest
downtown banks, feeling that the COM
mercial discount rate of 7 per cent
which his bank has been charging has
been in operation sufficiently long
to serve its purpose in bringing about
proper adjustment, has to-day au-
thorized change from TO 6 per cent.
He feels that this is a proper and fair
course TO pursue in the interest Of
business in general and further, that
it will convey to the public mind a
iustifiable reinsurance of the progress
being made as a result of the policy Of
the Federal Reserve Bank" 1t was in
timated in financial circles that other
banks might make similar concessions
to their commercial borrowers, which
would in turn mean a reduction of q
full 1 per cent in open market rates
on commercial paper, which have lately
been holding around per cent
New-York tribune., 1920-11-27
Cotton Breaks More
Ihan a Cent; New
Low Records Made
Weakness in Liverpool and
Selling Pressure From the
South Send Prices Down
90 to I45 Points

Weakness in Liverpool ard reports
of increased selling pressure from the
South led to break of more than a cen.
pound in the cotton market yesterday
Pre-hollday rallies were not only los.
but all months excert October made
new low records for the season. with
January selling at 1915, compared
with 1850, the high point OF Wednes-
day, and 1916 at the close Of Wednes~
day night. That delivery closed at
1918, with the general market closing
barely steady at a net decline Of 30
to l45 points,
There was very sharp decline in
Liverpool over the local rolidav. and
London advices published here before
the opening reported the failure Of
Liverpool stock Exchange house and
SAID that certain cotton brokers we're
IN difficulties owing 10 the cancella-
tions Of American orders, presumably
of cotton goods. This started the sell.
ing moVem ent here. which was later
stimulated by the Increased pressure
from the South and TIE TACT that none
of the holders of December contracts
seemed willing to stop notices, a.
though only 6 or : we're reported in
circulation. This made an unfavor-
able impression on sentiment, while
weakness in stocks and grain probably
accounted for some Wall Street and
Western selling on the decline, which
carried active months J5 10 $50 points
net lower.
Closing prices were within few
points OF the lowest. with sentiment
still nervous ard unsettled, although
later reports from London Indicated
an improvement in the financial si.ga-
ton st Liverpool.
Southern spot markets, as officially
reported, were generally 80 to $50
points lower, with Fort Worth quot
ing middhnE cotton at 1920, the low
est price touched this season. hid
ding quotations ranged from taas
figure up 20 16c. comparing with 1876,
the closin~ quotation Tor December
contracts at New York
The local market tor spot cotton
was quiet and l45 points lower, at
1885 for middling. No sales we're re-
ported.
New-York tribune., 1920-11-27
American Wooden

American Woolen common stood out
rather prominently yesterday as a spot
OF strength in q market that was cx-
ceedlngly Irregular. 1t gained 212
points net at 1872. An analysis OF
Il position Of American Wooden pre-
pared By stocI. exchange house says
that at the end of October the COM
pany's cash balance was $14.0OOOO0, or
more than twice its notes payable. Net
quick assets were SG0,000,000, with in
ventories marked down to current
levels. This was equivalent to $3.50 a
share for the present $40,0OO,00O com
mon stock after deducting the pre-
tered at par. During the war period
the equivalent of s45 share for the
present $4,000 900 common was worked
back into the property Wooden is Of
course affected by the slump in the
:e%tiie industry. The percentage Of
IDLE WOO! machinery in the country is
SAID to be larger to-day than at anv
time in six years.
New-York tribune., 1920-11-27
Market Opinion Mixed

Since the downward course Of the
market was checked on Monday by the
announcement that the holdings Of
". c. Durant in General Motors had
been taken over by the du Points and
j. P. Morgan e. Co. the opinion on the
market has been decidedly mixed.
Some observers have it all figured out
that security prices may reach g
double bottom within the next few
days, to be followed by a period of
dullness that will prboably extend
until some time in February. They
expect that an upward swing will
develop which will wipe out much of
the losses of the past year. Others
argue that the industrial shares have
not fully discounted the readjustment
now under way in the basic industries
and that they must go lower before the
discounting process has been com
pleted. Easier money, they say, will
not counteract the downward tend
cncv.
New-York tribune., 1920-11-27
Heavy Selling Sends
3. Wheat to New Lows:
Market Is Nervous
Flour Prices Still Soft After
Declines of 25 ao5OCents:
Many Sfop-Loss Orders
Uncovered on the Decline

The downward readjustment Of val
ues vas again in progress in the wheat
market yesterday, and new low records
were established. There vas unusual
~ heavy selling, much of which was
credited to Wall Street account. and
st 0-loss orders were uncovered on the
.dt clire
LXrorters reHorted a good demand,
sales for the day being estimated at
l.'5Q,00o bushels or American wheat at
Calf forts, while over our holiday Brit
isA buyers came into the Winnipeg
market and too. about 400, 900 bushels
Of Manitobas. This buying made but
Attie impression on prices, however,
and closing quotations were only
slightly above the lowest at 6A to 7
cents net decline.
ne main cause Of the weakness was
t'neVed to be due to extreme nervous
ness over financial cond itions. The
weakness IN the cotton market and ru-
mors o. hnancia difficulties in the cot
ton trade IN Great Britain contributed
: to tn" decline in wheat. and there were
reTorta that tAree more country banks
IN North Dakota Gad been forced to
close. Most of the EXPORT demand
cine from Southern Europe. especially
l1on' Spain and Italy, and Belgian buy
ers. who usually make purchases on
! .day, were ont Of the market, and it
Was said that Belgium has supplied its
ncvts for the present, and, moreover, is
getting more liberal offers from the
Southern Hemisphere.
-Four prices experienced further
drop q % 10 so cents per barrel, and
leading grades we've quoted at sS25
-with limitations that mills would prob
local market No. 2 red and No. hard
senere quoted at s1.791a c. i. f. track
New-York tribune., 1920-11-27
Norfolk & Western

W., a four-point advance in Norfolk &
" estern yesterday called attention TO
the possibility that this read. alonfy
with the Reading and the De'aware'.
Lackawanna & Western, will divorce
itself from its coal properties, includ-
ing the Pocshontas Coal and Coke
company. The stock was easily the
feature of the railroad list, the hjrh
PRICE of the day being lo5, compa re d
WITH ednesda s last sale at 100.
norfolk e. Western is also one of the
ro@ds mat are beginning to feel the
benefit of the freight rate increase
September operating revenues in
creased 22 per cent over the cor
responding month year ago. and it is
e-ieved that the gain for October viii
be even greater. -
New-York tribune., 1920-11-27
Barre (Nt.) Bank Accused

BARRE, Vt. Nov. 26.-State Bank
Commissioner George Carpenter filed
with the county clerk at Montpelier
to-day bill Of complaint setting forth
his reasons for closing the Barre Say
inEs Bank and Trust Company Mon
day after that institution had been
subj jectcd to a run. He said the books
failed to show the banks true con-
dition when exam ned in October. 1t
is also alleged that the bank failed to
keep proper reserve in cash, that
Liberty bonds carried in the bank state
ment were really the property o indi-
viduals, and that the bank has made
excessive loans.
New-York tribune., 1920-11-27
More y. ID. Banks Close
Depletion of Reserves i'll Two
Makes Is in FORTNIGHT

FARGO. N. d. Nov. 26-Two more
North Dakota banks closed their doors
to day as result of depleted reserves,
bringing to fifteen the number o inan-
cial institutions that have shut down
for similar reasons in the last two
weeks. Those closed to-day were the
Farmers and Merchants Bank at Sher-
wood and the Farmers State Bank at
Rhame.
The closing Of state banks at this
time is owing to Withdrawals exceeding
collections to q po mt where the re-
serves have become depleted, accord
ing to 0. +. Loithus, State Bank Ex-
aminer.
The primary cause is the sudden
drop in pr.ces Of grain and stock to q
point where, if sold now, will be a
severe loss to the producer, and he re-
fuses to SELL he said
New-York tribune., 1920-11-27
Sinclair Consolidated

r. Nearly 100000 shares Of Sinclair
dol,s Jdon,s0naated ,1'. changed hands in yester-
Tha Td mlaIAet al q net loss of a point.
rlse to all sorts of rumors. amonS, ,r5ice 49,
was wa one that one of the largest bold-
ers err was Sc ling to establish losses "a
include in his next ears income tsV
return. The Sinclair directorate is
made up of a number of wealthy men
some OF whom, according TO renorf
oousht the stock at much HIGHER fr,
ures; The liquidation which caused 60
much attention yesterday was under
soooa 10 have been augmented by
CONSIDERABLE volume of short selling.
New-York tribune., 1920-11-27
Canadians Go Well

Investment bankers pointed yestcr-
day TO the quick sale of the S25 900 900
OF Canadian Northern Railway twenty
year per cent bonds offered by To-
cai bankers as indicative of the excel
lent demand for prime issues of fairly
long maturity. This issue went as well
as the S25, 10000 issue of Grand Trunk
Railway 7s offered several weeks ago.
Both issues have behind them what is
tantamount TO guaranty by the Do
minion government. which makes them
doubly attractive from the viewpoint
of security.
New-York tribune., 1920-11-27
Copper at 1890

a new low price for copper on the
present downward movement was re-
ported to have been established yes
leroay with the sale of half a million
pounos at i3@ cents pound The
market continues entirely in tha bands
of the buyers and they are purcbasing
only for their most pressing needs
Many producers assert that on pres.
eno-daN operating costs thcv lose
money If the metal is sold under Is
cents a pound. In 1918, when the gov.
ernment fixed the price of copneT At
40 cents pound, it also STIPULATED
mat miners were to be paid on that
oasls. Since then the companies
agreed on wage scale based on tbe
selang price of the metal, but in no
bas; bast were the men to be paid on the
OASIS OF less than IS cents a pound
New-York tribune., 1920-11-27
Brazilian Loan Revived

Bankers interested in proposal to
make q credit advance to the Brazilian
government under discussion several
weeks ago without definite results
were SAID yesterday to have resumed
negotiations. The amount mentioned
when the project was first broached
was $40,000,000 The present negotia-
tions are understood to be for credit
o. much smaller size.
New-York tribune., 1920-11-27
Anaconda Syndicate Dissolved

Inc managers of the syndicate which
underworld $4,000 600 ser;os u
per cent bonds OF the Anaconda Con-
per Mining Company and offered hem
the middle of October yesterday mott
hed the underwriters that the syndi-
cate had been dissolved all bonds hav-
ing been sold. They were offered at
30 a and interest to yield 762 per
cent
New-York tribune., 1920-11-27
French Loan Growing
subscriptions to internal Issue
Reach HIGH Figure

PARIS, Nov. 26.-The new French 6
per cent loan, including yesterdays
commerce Day. subscriptions, has
according to figures made public in
financial quarters here to-day.
1t is expected that subscriptions,
when the loan closes four days hence,
Will total 30,000,00O,o00 francs.
New-York tribune., 1920-11-27
We'd fnesdsys 8
Buyers Act Cautiously
In Dull Sugar Market

f7-rrT-T
.r,cas $50
Sugar. granuiated b.. s.. - ~
Coffee. No. : Kio-..--.- -"
Coffee Santos. No. Tips 9 lss
There were no sales reported IN me
raw sugar market ycste day. the mar.
kct being quiet but steady AZ iass ..
prices. Offerings were comparatively J
light and the small demand Tor reAhea
sugar caused buyers to act with eau
ton. Cable advices reported one cen,
trail having started grinding on ne"
crop cane and it is expected that ON,
ers viii rapidly follow. Final price,
for futures were to Is points nc.
higher on stronger demand ior DC"
crop positions.
Tho rance ni Driccs: :.
New-York tribune., 1920-11-27
Cntfonseed OIL

The market for cottonssed oil. a.ter
show Of stcaainrss early ln the day, g.
veloped pronounced weakness and a. tn'
close was A 10 - points net lower aer 2e.'
WAS heavy commission house se'..ns.
prompted by the weakness .r cotton Aii1
other com1nohitits. ard. a. le from cover
ing there was 1ittle demand. a.tho1sh
there was further talk OK export oiet atoms
The range % prices follows
New-York tribune., 1920-11-27
Oats Market Is Easier,
Shorts Prorc Good Huyers

he oats market was easier earlv
ard prices felt Inc influence Of tho
hreaK n wheat, but shorts we're GOOD
buyers On ,he decline and Anal Quota
sions showed net gains of u to nc.
tash premiums in the West were
.nTniy he'd and rece pts over the two
days wcre uaodcra,e
In the local cash market No. l white
was quoted ~ Glc No. 2 white. e0Hc:
No whi tc. 59'4c; 30 white, SO nc:
fancy clipped white, G51zc; ordinary
clipped white, GoizpGl nc, all elc-
yator.
Yes'~rfay's Pr.v'ou. Year
No white. .ssr1 s5I1 ssWssH
nsosnber ....... - ~ 7s7.w
Nay .....-....,-. .4sA .+sN 7s =. q
hyo--Hark-t weak
Yes'~fasy's Previoun Year
No. wsr'.rn sisz 49, ,iss
fi"nf ani hra, Quotations were:
Yer'rrGAy Pr~yious
t.oz. ,f1pe y.a,r,
Spring ~ - ztn3 ~ ts.I0W3zs ;l27s
J'ys npvr. s75WaiD z7tmsI0 7z5E7 10
Efan .-.... - ~ 4DD 4+0DGe4s 80
New-York tribune., 1920-11-27
I'm Wall Street
The General Motors Deal

Terms of the deal whereby the du
Pont and Morgan interests acquired
upward Of 100000 shares Of General
Motors stock held by William C. Du-
rant, president of the company, in
volved the cash payment of soT 900 900.
1t was reported in banking quarters
yesterday. The additional amount due
in payment for the stock consisted in
shares of the du Pont Securities Cor
poration. and the whole transaction
involved approximately $5O,OO0,OOO.
New-York tribune., 1920-11-27
Resisfs Pressure
Caused by Wheot's Fall

The corn market felt the influence
o. the break in wheat, but again
showed indeoendent resistance and at
the close oi me day values were isc
lower to l4c higher There was moth
Ing especially bullish in the news Of
the day, but the trade was not inclined
to press the selling side as the mar
Ket !s now on about a pre-war basis,
which, many think, discounts many OF
-~e bcarlsh factors in the situation.
Receipts were trAe larger at
r primary points, but the country is not
pressing sales and stocks recently have
experienced slight decrease In tho
quoted at 94zsc and No. 2 mixed NJ
92@,c C. i. + New York, ten days' shin
..ent.
.,,.~ v,-,, Yesterday's Previous Year
New-York tribune., 1920-11-27
Money and Credit

Call money rates on the Stock Ex-
change yesterday were maintained at
6 per cent. Considering the fact that
$40, 100000 has been withdrawn from
the banks this week by the govern
ment, borrowers argued that the inme-
diate outlook did not indicate higher
rates. Time money was unchanged
New-York tribune., 1920-11-27
The Dollar in Foreign Exchange

The foreign exchange market was
steady yesterday, without important
changes in rates Sterling held around
S3.48% Francs moved narrowly.
Quoted in dollars to the pound
New-York tribune., 1920-11-27
The range Of prices follows

100 points lower at 15.7sc sales 1854
bales. New Orleans quiei 80 lower az
l5.O0c; sales. l.579. Mobile nominal
so lower at I5.50c sales nl.. Savannah
nominal. 100 lower at IL 75c. sales nil
Augusta Gull. 75 lower I'll l5.25c sales
l69- st Louis steady, $50 'ower at loc;
ssies nil. Houston quiet. 100 lower 81
i5c. sales. 5.730. Liite Rock quiet oV
lower az I6c. sales 2sO. Dallas steady
40 lower a j soc sales I'll. Fort Worta
steady. t2Q lower at - 40c. sales. z5s8.
New-York tribune., 1920-11-27
London Money Market

TNDON, Noy 2G.-Har silver. VIVA
per ounce; bar gold. ll7s cd; money
M per cent Discount ratcs short
bills, 8 - isMs% per cent; three
months' bills, g1i-le per cent. Cold
premium at Lisbon. 40.
New-York tribune., 1920-11-27
NnAnnsdays

Coffee Futures-Covcring by str stv
strengthened the market after an os rsrs
inE decline yesterday and final prices rh
80 TO 43 points net higher. alth'~Ssns
slightly under the best for the day III ts
local spot market was up NC asa res'''
sCaatrusd an rsxt sauel
New-York tribune., 1920-11-27
Cotton statistics
IiyerDOOl Gables

As points decline: mtdaling II 25d. sa.es
900 bales. American 2.001 bales. lnpof'ss
none. Futures opened Qliet 81 10 -, 80
points decline from Thursday Closed sus'
at 81 to 80 points decline from Ne'nrs
day. December and January, l!..,d' .ea
March. 1l.0.d. NAY. 1854 July. 4se'~
Aanchester Yarns ard cloths quiet
New-York tribune., 1920-11-27

iIcrtiiDcT 10
Regular Declarations
Pay holder,
Rate. Pcrod. able. OF Rec.
Am. Tobacco co..
p' ......,:., 49,; iHn q Jan. Dec 10
4 rr Co. pt.. lN@S q Dec Is Nov 30
Baldwin Locomo-
I've Works ..... 3iz92 s-aJan. Dec. I
40 pf. .-........ 3H%9 s-nJan- Dec. 1
CaNf PACKING Co. $3.50 Dec. IL NoY -
c3fbD- ifydroKcn
co. of Amer. n lA@s q Dcc 81 Dec. I,
Conn. Fow. Co. ~ $50 q Dec. Nov 20
Dominion Iron T.
steel co......... 1h% q Jaf Dcc. Is
40 y. .-.t..-.. ,. 70 q Jan. Dec. Is
Co.. pf .......,. ~. a Jan. 3 Doc 20
90 ~ ..-+..' III Jan. Dec. lG
rino Mines ... Les Jan p.o !
Puget Sound Coz
Df. ...........-. s.M q Dec. IL Nov 40
Wfo. farrell
... 5on. ,, ........ i'.%s a Jan. Dec. 20
S'sndard Gas II
,u tr"r,flc co., ~ 1o Dec Is Nov. 80
i'p' nbl lpyhrp- "a. ~ Il IIrc n Dec.
Tnln Cny y r.. !. Jan Z bee "a
10 pt ...,...... iHM q jan. Der
United Dyewood
,.,n,iDp.. 60. .,..,...,.... lN% q Jan. Dec. 1s
WHY'S rDrpora1ion
Ass ~. scrip..- Dso. Nov. ~
New-York tribune., 1920-11-27

Bank Clearings-Bank clearngs at
New York yesterday we're: Exchanges,
$924,l29 ,096; balances, 94,355,24O.
Silver-London, 4S%d; New York,
domestic bar, 99lac; foreign, 75Hc;
Mexican dollars, 574sc
Sub-Treasury - United States fund
reserve credit balances, S75,77S,395.
Canadian Exchange York funds
in Montreal, Sl3S.75 premium per
$1,000; Montreal funds in New York,
$l2l84 discount per $1,000.
New-York tribune., 1920-11-27
Dividends
Sherwin- william,
MI InT

sherwin- Williams Company OF Cannda--
An initial quarterly dividend OF li2 per
cen, share has been declared. payable
December II. to stockholders OF record
December 49,
New-York tribune., 1920-11-27
Transactions Yesterday in Listed Stocks
Summary of Stock Exchange Dealing.

Copyright 1920 New York Tribune Inc)
The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1920-05-19
10 RESTORE ORIGINAL
SCHEDULE JUNE 1sT

The Hustler has learned from a
reliable source that the L. & y. nal
road will restore the original sehe-
dule Of the u. Il. & z. passenger
train on June ! 50 that the train will
leave EIlmitch in the morning and
return there at night instead Of leav-
ing Darlington in the morning and
laying over there AZ night.
This viii enable Anton people 70
come 70 this city and do their shop
ping and transact other business.
Hustler.
The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1920-05-19
$50 900 WILL SUIT
COSTS ARE $4,000

Frs1kfoTt. Ky, May 17.-After
spending 10000 in costs. heirs Of
the late Granville Cecil, Who died
in Boyle County in 1915. leaving
1900 acres Of land and personal
property valued a. 10000, have
COMPROMISED the contest u his viii
ana TIE Court Of Appeals affirmed
the compromise judgment.
Under &. the three children. J.
g. Cecil. Bessie Anheir and Margaret
Em5ry, receive $4,000 each and the
income from The estate IS divided
among them.
The other cases between heirs
and the erecItoTs and trustees, in
which 4 receiver was appointed for
the home property, "MelTose," vas
reversed.