davidaulloa/AmericanStories huggingface dataset:
Dziennik Chicagoski. [volume] (Chicago [Ill.]) 1890-1971, 1920-05-19
Czterdziesto : Godzinne
Nabolenstwo ma SLcze-
panowie.

w kOsciele p. W. Sw. Szcze9ana,
PREY kt6rym prOboszczem est Y. Dr..
AIeksy GorskR, odbyio> sic We VITO
rex, SrOde i czwartek dorOczne
neutrality-suspicious. n~abozenstwO.
Lud poboany licznie odwiedzai ko-
Sci6i podczas calego triduHm, ado
rujac pred NajSw. Sakramentem
wystawionym ma oftarzu.~ Nieomal
Gala p~aratia przystapiG do Stold
Panskiego. NaEozenstwa odprawiaiy
sic W nastepujacym ~pcrzadku. We
wtorek Msze Sw. 0 godzirie Sci ra-
no odprawii miejscowy prcboszcs y.
G6rski z wystawieniem / procesyq.
o godzinie loci sumo celebrowa} X.
WladyS,aw KozlOwSk:, " aSyScie y.
Pawla Soboty jake dyakona i X. L.
nacego Mazurowsk;ego jake subdya-
kona. Wieczorem nieszBory celeorc-
wal y. Jan Zwierzchowski. W asys-
tencyi Y. Bon. IwaSZewSkieso c. :.
c. jake dyakona i X. Jana Drzewiec-
ckiego C. r. jake subdyakona. Mi.
strzem ceremonil byi X. Stanislaw
Dabrowiak. Kazan:e wyglOsH <.
Wincenty Nowicki. - " Srode pier
VISA Msze Sw. odprawil Y. Wiaiy-
sIaw Koztowski; sumo zaS o sodzi-
ME loci cdrpawii Y. A. G6rski. ME-
szpory wieczorem celebrowat Y. Fr.
Dziennik Chicagoski. [volume] (Chicago [Ill.]) 1890-1971, 1920-05-19

niu wydanem W tel sprawie dnia 1go
kwietnia r. b..
II recepisu, wykazanego >przez
strone o~skarzajsca, a oddanego "
Wiernem t~iumaczeniu - wynika, II
suma 10 dolar6w zoStaia zaplacona
w charakterze zadatku ma karte O.
kretowa / re. jak dowody stwierdzs'
ia, reszta sunny, kt6ra miaia bye ~
placona przez oskaraajacego "a kar-
te okretcwa,i nigdy ME byia wpia21-
ma. Pieniadze ~wplacone, 'byly otrzT-
name jake zadatek ma karte okreto-
wa, a ME jake suma caikowita, pre-
to re strony o~skarzonego Polsko-A-
merykahskiej Agency O~kretoWej'
Inkorporowanej ME bylo obowtazku
wystawiania karty okretowej Tub "a
rezerwowania miejsca ma okrecie, do,
p6ki Gala sum- "a karte okretoWq
ME byla wplacona. Warunek ten ME
byl wykonany przez oskarzajacego'
przeto receipts wydany mu. ME jest
r~ecep:scm niezgodnym z Paragra-
fem 1870 Ustawy Karnej a eaten
ME pociagajacym "a soba przeKr2-
ezenia prawa, poniewaz receipts ten
ne by} wystawiony ma sumo ca'Ko-
vita, jaka paragraf ws2omnianeJ
Ustawy karnej przewiduje. Usta"a
karna n~aturalnie musi bye sc1sle wy
tlumaczona, a poniewaz receplS
wsp6mniany ME jest tax skonstru"-
wany, iak TO ustawa karna przewi-
duie. gdyz tylko jest recepisem ia
zadatek sunny kupna karty okrsto--
wei - rrDetc dowody W tel sprawl
ME So dostateczne, ce!em uznania
strony oskarzoncj - Wilma zarzn-
camel jej zbrodni.
Ola tych przyczyn znaJouJS
sic strone oskar5ona ME Wilma
,,Zawezwanie Sadowe Jest odrzucc-
ne a strona oskarzona zwclniona .
Dziennik Chicagoski. [volume] (Chicago [Ill.]) 1890-1971, 1920-05-19
Z Polskiego Biura.
Fore gn Language Co.
y~ernmeatal Information
Service, Polish Bureau.
ia East 18th Street, New
York City.
D~ecyZya sadowa W sprawic polsko-
&merykanskiej agency OkretOwej.

New York, \. Y - Sprawl Pol
sko-Amerykanskiej Agencyi Okreto-
wei W Sadie Pierw3zego Okregu
Miasta New YorkH'u, o Swiadome
przekroczenie Paragraph 1870 Prd-
wa Karnego. wn:esiona ma podstaw!e
kwitu zadatkcwego, ~wydanego ma IL
chu2ek biletu okretOwegO n;ejakie-
mu Bednarzowi, ro~zpatrywana byln
przez ~Sedziego George w. Simpson,
kt6rego wyrok, wydany dnia $3.50
kwietnia r. b, zwalniaiacy 2 oskarlr-
MIA jest nastepujQcy:
New York, April so, 1920.
Ma podstawie zeznah i dowod6w,
jestem przekonany, 70 ME zaszio W
tel sprawie przekroczen'e Paragra-
fu 1870 Prawa Karnego, jake Ia
rzucano W kcrporacyjnems zawezwa-
Dziennik Chicagoski. [volume] (Chicago [Ill.]) 1890-1971, 1920-05-19
NIEMIECKI SYSTEM PUSTOSZENlA
IJEGO REZULTATY.
Washington. ID. {.

Washington. ID. c.
Nastcp>twa syStrmu niSzrzenia rr@'@
Nicmc.iw oArcS6w przcmystOwych Fran
rvi / Hcl.ii "kazaly sic StraSzncmi | W
polScr. puhczaS diugicj NiCmirckic1 ~
krpncyi ZaprrwndzonO h prawdhlwi'
Nicmfccky mrt0la. system wywhAS|cIn-
MIA. w fOrmic hldania, prD"pr"WndZo'
nv " dwI'h n~aStCpujlcy"h rr'orh II
Otrzyrhar iabnaiwi~'ci maS1yn'ry1 l
tnv-rru Cmctory. przrlzr paSyl -
zdusir I'"1>kf przrmy>I tkarki Il" taNlel
zalc&no3ci od Niomc6w jakq "nt wy
zuaCzl
Ola swr-o wlaSnc-o "elu. Ntou1"7
micIi harIzn dokiadnc | S~n|INS"toWc
wykazy przemySlowy"h knmhinaryl ia
kir rohili mn rolsgc 70 wyka1y pod
czaS ~ewakuaryi pozoStAwili. tym Np"-
s,Erm pnlshi przcmySl tiarki ma hnm
pIcma listp clcktrycDaYCh motor"w' wy
w~iczionyrh Z ronmaitych tkIlnt ! IA"
hrvk W iodzi, iukotcA navy mielSco-
woSci w-Nipmczcch. Gdzic tc Molory o.
hccnic - ulokOwanc. W"bcc tych lax
tow ME htSlzir wiclkich t~rulnoSci PREY
odbiOrZc maSzyMCryi.
70 IA wywirzicniem wSzyStkich ni'
zbcdnyrh czcSci, plan NicmcGw, spuSto-
sZpnia k~ongrcS6wki. StHnOwif II Hada-
ME doStarczrnia wyEonczoNych t0Wa-
row ~i-surOwego materyaln - konfl-
Skata wykOhczonych tOwardw. W zlda-
niu doStarczenia Nicmcy dawali wia-
SciciplOm. dOklmenta Il WySZCAPSolnle-
MEM OtrzymanecO towaru. Prey k0ntl-
,kacie zadne dowOdy ME hyiy dawanc
DO prOStu rUwar hyi zahierany. -
Trzccia nptula prZymuSu poleTata M
prorlnUwnniu wia<ciciclOwi ~SprZedaIy
i'm towaru. lnatura1nie po najniLSzeJ
c%nicl "A W razie ME przyjccia ofiaro-
wanci przcz N.iemc0w ceny, tOwar sH0n
fiAkuwano.
Dziennik Chicagoski. [volume] (Chicago [Ill.]) 1890-1971, 1920-05-19

Jagielski W asyScie X. Fran. Kulli-
Skiego jake dyakona i X. Jana Ken-
dziory jake subdyakona. S,owo b.
re wypowiedziaI X. Jan Grembowica.
- w czwartek, pterwsza Msze ~.
odprawii X. prcboszcz, sumo o godzl-
ME loci cdprawiI X. W}adysfaw Koz
i0@ski,I W -asyScie y. Pawla Soboty
jake dyakona i Y. Stauislawa Bony
jake subdyakona. Wieczorem nieSG-
pory celebrowa} X. Fran. GrzeS, W
asyScie X. Jana Keniziory jake dya-
kona i X. W~alentego Be!insk.ego ia
ko subdyakopa. Kazanie ma zakonL-
genie wypowiedzial X. Rajmund
AppelG Pc ,nieszpOrach odbyia sic
uroczysta procesya W kt0rej udziaf
wziely ~miejscowe bractwa: Dziewic
R6zancasw.. Dzieci Maryi, oraz licz-
ny szereg m;nistrant6w i duchcwien-
stwo. Oitarz przez wszystkie try
dni adcracyi NajSw. Sakramensu
pIouai blaskiem Swiec i tonai W
kwiatach zy%ych, kt6rego Ozdoba
wielce przyczynily sic Siostry Fell
cyanki. ga co nalezy sic i'm z~asluzo"
ne uznanie. Spiewy podczas w:eczo.-
nych naboienstw ~Swiadczyfy wymo-
wnie o umiejetncsci muzykalnej,
wielce r6wntez p~rzyczynily sic DO
upiekszen:a na~bozenstw. Podczas
dnia ma ch6rze &piewaly dzieci szkol
ne pod dyrekcya p. Marcina Grzedzi-
ckiego. kt6ry dzielnie pracuje mad
krzewieniem i doskonaleniem Spiewu
kA~Scielnego. Slowem trzydntowe ma
bozenstwo ku czci / cddania hoSc1
Dziennik Chicagoski. [volume] (Chicago [Ill.]) 1890-1971, 1920-05-19
ANALFABETYZM W STANACH ZJE'
DNOCZONYCH.
Washington, ID. {.

NNhoilbibStOA'
w Stanach XjC~dnoczOnych 20 pro-
cent doro$iych ~mieSZkancdw ME ulHIe
czyrar. w Sicdmiu Stanach przeSzIo 20
procent ogGlncj ludno$ci, powyzcj 10
lat. ME umie ami cZytac ami piSic. w
badaniach. przcprOwadzonych W dwoch
w~ieiskich powiatach, znaleziono warun
XII. kt6rc siuzyG mosa pOdStawa do in
nych czp$ci kraju. w jednym Z tych
powiatdv dwie trzec;c bialych dzicci /
try czwarte murzy6skich dzicci w vie
ku Cd j do Il lat stale pracGwaio PREY
upuwie roll, z tych IL dDiecl ponlzeJ
S lat Il 120 ponizei 10 lat.
Nieregularne uczCSzczanic krotEi
termin szkolny pow0tluja, zc dzieci W
wiejskich ~okrcgach ME robia poStepow
w nance. w nickt6rych p%Owiatach 10
.procent dzieci mic widH:a{0 jak WyglQ-
da szko}a. w jednym z takich powia-
tow 80 Robin, majacych dzieci W
wieku sDkolnym, mieSzka W Oddalenlu
dw6ch / poi mill Cd szkoly | z togo po-
wodu ME byli ObOwiazani posylac die
ci do s2kOly. w tym powieie jedna
trzccia dzieei, pomiedzy 10 a 90 ro'
klein mic umie ami czytac ami piSac. W
innych poNyiatach analfabetyzm male
ziono wproporcyi jcdnego ma dzieSec
bialych dzieci i jednego ia troje mu-
rzynSkich.
Dziennik Chicagoski. [volume] (Chicago [Ill.]) 1890-1971, 1920-05-19
PO1ska lest no rOzStdjnych

- IOtSHG JeSt H6 TO6StdJHYC"
droqach. PoHbcanic jest ME-
podleg7q. Nodaiejo wiek6w u
$cifa sic. Leca &omOmics"ie ga
1r:nq jest jeszcae od zdgran'-
cy. Ameryko jest dix jei jedy-
.mq nadEieiq. Gdy posycska wol-
no$ciowa bcd2ic u2yta ma odbu-
domc !goSpodarcsq, Polska be-
die mogfa sprsedawaG smoje
produkty ia mseyStkich ryn-
kach Smidta. - Nie-ale5no$C e,
~konomiczna Polsbi sale:y qR6.
wnie Cd Polak6w amerykai
Skich, kt6rzy powjnni pokry'
~poaycske Z naddatkiem.
Dziennik Chicagoski. [volume] (Chicago [Ill.]) 1890-1971, 1920-05-19
WYDATKI BNURA PCDATKU DO
CHODOWEGO.
Washington. ID. c.

Washington. ID. c.
Biuro Polatku DoChod"wego oGfasza
70 ma kaAde 100 dolar6w zaplacone ia
ko'podatnk docholowy fiSNalnym rn-
ku 1910. wydatki wynoSi}y IS gently. W
ubicg}ym roku wpiyne}o Z tegO nodat-
ku do Departamentu Skarhu 3,S5O,1N,-
OTS.56 dol. a og6i ma wydatki "a ten
GAS wynosily 2O.573771.5o dol.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-09
sTRoMBERG CUTS DIVIDEND.
Carburetor Company Reduces Dis
bursement so Cents.

The quarterly dividend on capital
stock of the Stromberg Carburetor Com
pany was cut yesterday from 81 a share.
which the company has been paying for
considerable time. TO 80 cents share.
No explanation of the decision TO cut
the disbursement In half was issued by
the company. The dividend is payable
on January 3 to stock of record on De-
cember co.
The company's report for three
months ended on September 30 shows a
surplus, after charges and Federal
taxes, of So, 6o3. or s117 share earned
on 5000 shares of It's capital stock Of
no par value. against $272 share
earned In the preceding quarter and
s2.O4 share earned in the correspond
ing 1919 quarter.
Net earnings for the period were
sis29s9, against s176,2O2 in the corre-
spending 1919 quarter. Other income
was t3.s15. against s2.47s. and expenses
s7o. pol. against s5l. 1898 For Federal taxes
s20O 900 was reserved. against $4,000 a
year ago, and dividends for the quarter
aggregated $4,000. against $1,000. ieav-
Ing final surplus for the three months
Of sl2,s03. against s52.342 for the third
1919 quarter.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-09
PRICES or PRODUCTS
OF STEEL DROP LOWER
Manufacturers Are Watching
Wages Closely.

Prices of steel products have declined
further during the last week. and the
cost of production especially wages. is
receiving considerable attention from
manufacturers. according to weekly re-
views Of the industry. Independent pro-
ducers are meeting the Steel Corpora
tion's figures on nearly all important
products, sheets and semi-finished ma
terial being the latest products to under
go readjustment. Wage reductions are
appearing In foundries, machinery
plants and other manufacturing plants
collateral to iron and steel production.
the Iron Trade Reptet1 says. but mill
and furnace labor so far has escaped.
Blast furnace operations at the end
OF November that review continues.
dropped to the lowest point of the
year. This was brought about by the
sharp loss Of thirty-four stacks In the
past month. equally divided between
merchant and non-merchant plants.
making/a total net decline Of sixty-two
stacks Total pig iron production In
November was 2.929.576 tons. compared
with 3.2ss.341 tons in October"
Production Of pig iron," says the
Iron Age. 'is now at the rate of about
81 $50. 900 tons a year. or so per cent.
Of the high 1920 rate OF March-less of
a falling off than is indicated by the
fairness Of some steel works order
books. Several cases OF the complete
shutting down of steel works are known
this week. showing that many con-
sumers. with no work ahead. with one
accord have shut off shipments of steel
Two Eastern plate mills are idle, as arc
two steel plants in northern Ohio. Al
other at Cleveland is on the verge OF
closing down"
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-09
CONSOLIDATED EXCHANGE.

Sustained early liquidation In steels
based on unsatisfactory trade advices
was the chief factor for wide declines
In that group during the first half period
OF yesterdays Consolidated Stock FIX
change trading. That selling continued
into the afternoon and was effective for
Generalization of the balance OF the in
dustrials list, numerous active oils and
specialties yielding 3 TO s points. Rails.
after Initial average gains Of moro than
per cent. fell In line with the down
ward swing and ended at about parity
with Tuesdays finals. Some foods and
motors moved to further lows for this
year.
Mexican Petroleum feli back s. at the
minimum, to 1861 Pan Au'erican ~ to
TS%. Texas and Pacific Coal and on
AZ to 36ss. Crucible Steel 4 TO 9oh
United States Steel / X 10 500. Beth
lehem Steel 3 ia to 53%, Baldwin
Locomotive 2 to 92sk. Studebaker liz
to 43%, Pierce Arrow pa to 1883
White Motors AZ TO 33h, American
sumatra tss to 70% and Cerro de Pasco
TX 70 26.
Stromberg Carburetor yielded 81 to
34r, United States Food Az to 20. Corn
Products 3M 70 67N, United States
Rubber ak TO 65h, Bosch Magnetic to
81 and Montgomery Ward OK 70 Is
while Reading. at the maximum, was
up tx TO 90h Reading second pre-
rerred "a to 60h. Norfolk and Western
2% to 1902. Lehigh Valley ! "a TO b3H
and Union Pacific to l19.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-09
PRICE STABILIZING
IS EXPECTED SOON
James Brown Predicts 1t Will
Begin Within so Days and
End Stagnation.

James Brown Of Brown Bros & Co.
will begin within sixty days. according
to an interview published to-day In
Forbes MG0azfne. The recovery OF
business, he said. was likely to occur
within the next two months. and ex-
planned that orders would begin to be
placed with manufacturers and mer-
chants and that there would be an end
OF the present stagnation. He added ::
IL do not mean that expect as active
business as we had at the beginning Of
this year or during last year"
Discussing labor conditions, Mr.. Brown
said: There will still be more men than
jobs. . Labor will be obliged to adjust
itself to the changed conditions, just as
business finds itself obliged to adjust
itself Whether wise counsels will pre-
vail among labor leaders, permitting the
adjustments to be effected smoothly. or
whether disturbances will remain to be
melted. remains to be seen. Judging
from recent conferences held by the
chief labor leaders, they are alive to the
facts of the situation, and their solicit
ing the advice of man like Mr.. Hoover
encourages the hope that labor will fol-
low a rational. sensible course"
On the subject of business failures
Mr. Brown said THE end of the year
may bring quite few failures, although
probably few OF very great magnitude,
After these are out OF the way and the
year end settlements have been made.
the way will be paved for the advent of
sounder. more normal conditions ] look
for enough buying to start moderate
business activity and this activity will
be healthier than before"
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-09
MANILA BANK LOSES
CABLE TOLL'APPEAL
Cannot Send Dispatches as
Government Messages.

The United States Circuit Court Of
Appeals affirmed Yesterday the decision
of Judge julius NJ. Mayer of the Federal
District Court. in restraining the Philip
pine National Bank of Manila, which
has a New York office, from sending
cables as Government messages. The
action was brought by the Commercial
Pacific Gable Company in September,
1910. the plaintiff alleging that the bank
had claimed, Illegally. preferential rates
since June. 1915 sendinr and receiving
mesa es through the Bureau Of Insular
Affairs at Washington. 1t vas also 81
legged that the bank caused messages to
be transmitted In this way for It's pa
irons
The Commercial Pacific Cable Com
pany sought to recover s25O.000. the diff
ference between the amount that was
paid by the bank under the Government
rate and the commercial rate, Tho
court upheld the claim of tho plaintiff.
As the Philippine Governmment own a
large part Of the stock In the bank the
institution sought to transmit Its mes
cages at Government rate.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-09
CHICAGO TELEPHONE
TAKES OVER COMPANY
Purchases Central Union in
S15,5OO, 900 Deal.

The Chicago Telephone Company. a
subsid airy OF the American Telephone
and Telegraph Company. has added ap-
proximately 100000 subscribers to it's
list by the purchase of the Central
Union Telephone Company, the service
of which extends. in II nois. through
Chicago. Officials of the American com
pany sad yesterday that the deal had
been in the nature of consolidation for
the improvement of the service In
Illinois.
The Chicago company has given its
notes for $l5.500.000 at per cent due
In 1928. In exchange for the property. 1t
Is expected that those funds. at ma
tur ty. will be refunded into bond
issue.
Immediate financing needs for ex-
tensions and betterments will be met by
loans from time TO time from the Ameri-
can Telephone and Telegraph Company.
Officials of the latter said yesterday
that that policy was in effect in all its
subsidiaries.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-09
HEDLEY hints 4. X. T..
INTEREST DEFAULT
Says No PROVISION Made Yet
for January Payments.

Frank Hedley, president Of the In
terborough Rapid Transit Company.
said yesterday that while nothing defin-
ite had been provided in the way OF
taking care of the company's heavy In
terest charges due on January l, he was
hopeful that some arrangement to pay
those obligations could be made. That
statement was the first by any official
of the company regarding the possibility
of default of interest on the company 8
S161, 900 first and refunding bonds.
year ago. when the company finally
made its arrangements with banking in
terests for the payment of the interest
charges, Mr.. Hedley announced that the
company had "scraped the box" and
would be unable to get by another in
terest period unless a higher fare were
charged to permit larger earnings.
1t was learned yesterday that there
have been several conferences OF late
looking to an arrangement by which the
PETERBOROUGH may borrow enough money
to pay the charges due at the first of
the year A little more than $4,000, 900,
1t Is understood. is needed. but what
plans for raising that sum have been
discussed could not be learned yester-
day.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-09
GETS $4,000 ACRES.
Pacific offs share In segr~ xs ton
Plsn--Cost Is e5,OOO,vOO.

The Pacific oil Company. the new cor
poration organized by the Southern Pa
clfic. obtained as a result of the segrega-
ton plan $4,000 acres OF land. of which
about $4,000 acres are proved oil lands.
for a net cost OF less than $4,000. 900, II
was learned yesterday. That statement
took into consideration the fact that ex-
perts had overlooked the acquisition of
existing materials. supplies and field
improvements" worth many millions OF
dollars.
The new oil company paid s43,750. 600.
setting s20.06s,000 par value OF Asso-
lated OIL stock. concelvably worth
40. 1000 materials. supplies and
Held improvements, the value of which
according to estimates ranges from
stb.0o0.000 to s25.O00.0Oo. and the oil
lands. Thus. II is pointed out. the net
cost OF the oil lands Is close TO $4,000. 900.
or 5000 an acre for the proved lands.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-09
PIERCE ARROW SHOT
DOWN BY Big DRIVE
Sudden Attack Drops Pre-
ferred From Is to SO. With
Reaction to 68.

The series OF drives which have been
directed day after day against some spe-
cial stocks on the New York Stock Elk
change. Including a number of preferred
issues, eliminated yesterday in an unex-
pected attack on Pierce Arrow preferred
just after / o'clock. For few minutes
the attack was so violent that the mar
ket for the issue was completely demon
allied. So sudden was the onslaught
and so drastic its results that members
OF the Exchange who were on the trad
ing floor at the time called the attention
of members of the governing committee
to the affair.
Nothing earlier in the Pierce Arrow
situation on the floor of the Exchange
indicated what was coming. Trading IN
the preferred stock was small at a price
only slightly changed from that of he
preceding day Then block of 400
shares was offered at rs. which started
the most abrupt drop seen on the floor
In some time. The next sale recorded
was at "a. Then came four more at
". ~. II and 10. respectively.
At this point a block Of 200 shares
came into the market and was sold at
65 off s points from the preceding sale
This was followed almost Immediately
by another block of 200 shares at So
FROM tIlaL point, however. tneTe WIS q
rapid recovery to 6S, where the stock
closed with a net loss of 8 u points.
AS the stock slid down all sorts OF
ugly rumors were afoat regarding the
company, chief among which was the
story that the preferred dividend was TO
be passed. Bankers closely Identified
with the Pierce Arrow company, how
ever. denied emphatically that anything
in the situation indicated a cut in the
preferred dividend. They declared the
corporation had enough business on the
books to keep the plants going for the
next six months.
An inquiry into the raid by the bust
ness conduct committee of the New York
Stock Exchange Is probable. according
to Indications after the close of the
market This committee investigates ali
matters II believes might be detrimental
to the best interests Of the exchange.
No member OF that committee or or the
governing committee would admit.
though. that an Investigation Is either
under way or pending.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-09

FOOD PRODUCTS TO
DEFER ITS DIVIDEND
Executive Committee Recon-
mends POstpOnement of
Current Quarterly.
WOULD CONSERVE CASH
Net Earnings for Nine Months
of 1920 Are S2.87O,998,
Says Statement.
WOULD CONSERVE CASH

| The executive committee OF the United
| States Food Products Corporation. In
meeting yesterday. decided to recon-
mend TO the companys directors that
| Its dividend of lh per cent for the cur
rent quarter be deferred. The directors
will meet on December i6. when they
will receive the recommendation OF
the committee The reason assigned
for its action by the committee Is its
belief that the compapy's cash re-
sources should be conserved as much
as p ssible at this time.
The audit OF the books of the CON-
pany and It's subsidiaries" says state
ment given out at the conclusion OF
yesterdays meeting, has been brought
down to October | and shows that the
net ,arnings for the first nine months
of this year are 81 SIC. $500. After max
ing adequate provision for shrinkage
In the market value Of the inventory.
Federal and State taxes of all kinds
and depreciation, the indications are
that the net earnings of the company
tor the calendar year 1920 VIII approx
mate at least $3.000.00o, or 10 per cent.
on the outstanding capital stock or the
company.
"Though the earnings OF the company
would Justify the declaration OF the
usual dividend of II per, cent. Tor the
three months ended December 81, the
executive committee believes, IN view OF
existing unsettled conditions In tnis
country, that 1t is to the best interest
Of the company and Its stockholders
that it's cash resources should be con-
served and that. therefore, the pay
ment of the / "a per cent. quarterly
dividend for the current quarter snouiu
he deferred and II will be so recon-
mended to the board of directors, which
meets December Is.
.sDuring the last two years the COM
pany has gone into various food manu-
featuring and business enterprises. ana
has invested IN ships, tank cars, once
buildings. factories. real estate, plant
and machinery nearly $10,000,0o0. These
new enterprises were deemed necessary
on account Of the prohibition laUS, but,
notwithstanding these laws, the earnings
of the company from the manufacture
and distr button of alcohol for industrial
and medicinal purposes have been, and
Il is believed, will continue to De very
substantial.
ut Is considered desirable at the OPP
perfume time TO cap 'talize the large
investments made In these new enter
prises and thus to liquidate the COM
pany's floating debt and restore to work
ing CAPITAL the sums which were SO IN
vested. thereby leaving substantial por-
ton of the earrings available for DIV
derds To- general outlook or the COM
pany's business under prevailing con-
ditions Is not bad but, on the contrary
quite good"