davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
u. S. Rubber Sells
$20,OO0,O 200 Notes to
Kuhn, Loeb & Co.
Company Issues Ten-Year
IN Per Cent Security to
Provide Funds for Elk
tensions of Its Plant

The United States Rubber Company,
according to an announcement yester-
day by Colonel Samuel P. Colt; chair
man of the board, has sold to Kuhn,
Loeb & Go. $20,00O,000 of it's ten-year
II per cent notes, secured by 25,O00,-
600 of 6 per cent bonds issued under
the company's first and refunding mort
gage of January 2, 1917
Owing to the present time being I'M
favorable for the placing Of long term
bonds on advantageous terms, "sColonel
Colt stated in his announcement, "the
directors felt that it was in the interest
of the company to borrow upon the
bonds for a shorter period of time
rather than to sell them under exist
ing conditions, and therefore the $780,
100000 of ten-year notes. with bonds
as collateral were issued. The bonds
themselves run for thirty years from
January 2, 1917.
"The proceeds of this sale, with the
current surplus earnings, will give the
company sufficient funds for the COM
pletion of the plant extensions now in
progress at Detroit, Hartford, Provi-
dence and indianapolis, for the increase
of the company's tire production, which
is far below the demand.
"The company does not contemplate
any further financing and it is not ex-
pected that there will be another meet
ing Of the board Of directors before
the middle Of September"
At the offices Of Kuhn, Loeb & Co,
no statement was made as to tho price
at which the notes would be offered
to the public, but it is believed it will
be at par or very near that price. The
recent trend new security fotations
has been toward Offering bonds and
notes at par rather than at discount
This method of financing has already
met with considerable popular favor.
The new United States Rubber financ-
ing will bring the company's consoli.
dated funded debt up to $87, 807 900, OF
which 59,20700O consists Of first and
refundipg "A' 5 per cent bonds. due
January y, 1947. The last financing
done by the company was in October
1918, when 100000 five-year 7 pc,
cent notes were sold to Kuhn,s Loeb &
Co., who offered them In exchange for
like amount Of General Rubber de-
benture IS maturing December 1 that
wear,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Stocks Continue
| Under Pressure
I'm Dull Session
Market Displays Pronounced
Weakness at One Stage;
Lower Money Rates; Rub
Der Financing Announced

Stocks felt the weight of profess
sional selling again yesterday and to a
degree that made the market look
worse than at any time previously this
week. Yet all. things considered, the
offerings were.n not especially heavy; in
fact, the main trouble from which the
market was suffering was an absence
of buying power. Few traders seemed
to want to buy stocks even at conces-
sions, while on the other hand the
bearishly inclined clement stood ready
at all times to work for recessions.
Fears of another money squeeze did
not materialize, but the possibility of
complications in this quarter proved
an adverse influence that was made the
most of by the short sellers. Call
loans renewed at per cent, and then
in the afternoon, when the bulk Of the
demand for funds had been satisfied
at this rate, the banks lowered the
rate to per cent. The reduction in
the rate induced some short covering
in the final hour, canceling portion
of the losses recorded on the earlier
selling movement.
In its main characteristics the mar
ket differed little from preceding ses-
sions of the week There was the
same hesitation on the part of traders
in entering into new long commitments,
while the biggest part of the profess
sional contingent seemed disposed to
sell stocks on the slightest provocation.
Of course, the fact that the market
lacked resiliency and displayed little
rallying power tended to encourage
bear operations, as is usually the case.
The market now has got back to
about where>it started from the first
week in July. Many observers took a
pessimistic view of the outlook yester-
day, arguing that as matters stand
with regard to credit stringency and
business readjustment it is too much
to hope for successful speculative
revival.
Again the speculative favorites Of
recent days stood out as among the
weakest stocks in the market. The
oils, which have lately offered resis-
tance to selling, yielded with the rest
of the list. Invincible Oil was one of
the weakest spots. Baldwin Locomo-
tive and Steel common dropped to new
lows for the movement. Steel touched
90ss before the late afternoon rally.
Rubber stocks, which were under pres
sure earlier in the week, acted better.
After the close Of the market an
nouncement was made Of the purchase
by the corporations bankers of an is
sue of $20,0OO,00O of ten year III per
cent notes of the United States Rubber
Company, The new securities are Sc
cured by s25,ooO,ooo Of 6 per cent
bonds of the company Thero were
rumors yesterday of other important
financing, one report involving lead
ing Mexican oil producing concern.
One of the reports on which stocks
were sold during the day intimated
that the Federal Reserve authorities
were about to issue a warning rela-
tive to credit expansion. This went
unconirmed.
The foreign exchanges were irreg-
ular and the rate moved against Lon
don. Francs also displayed slightly
easier tone
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Net Income Increases
Minneapolis & St. Louis Earn
incs Improve i'm 1919

Corporate net income for the year
ended December 81 of the Minneapolis
& ST. Louis Railroad, according to the
annual report issued yesterday, showed
an increase of $219,864 over the pre-
vious year. being s4SO,692 after deduc-
tion of taxes, charges and lap-over
items.
This was equivalent to s1.67 share
on the $25,792,600 capital stock against
81 share in 1918 Crediting the in
come with the net debit balance of
s179,o51, charged out for lap-over
items. would give earnings of $2.S6 a
share on the stock against $2,01 on the
same basis in the preceding year.
The Federal operating account
showed deficit of s135,646 compared
with government compensation of $2,
773,s57, or loss for the Railroad Ad-
ministration of $2,909,503. Without
the benefit of the Federal guaranteed
rental, the showing for 1919 would
have been a deficit after charges and
taxes Of $2,299,760 against deficit of
sl,566,7os in the preceding year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Decline in Demand
Causes Toe. Drop
In Wheat Trading
Net Loss Since the Market
Opened Increased to Is
Cents as Result of Fur
Their Hedging Operations

Trading operations in the wheat mar
ket were of larger volume during yes-
terday's session and, while the big
margins demanded by commission
houses served to curtaiI outside bust
ness, the market as a whole seems to
be rapidly regaining it's position as
leader in the grain list.
Prices experienced a decline of about
10 cents per bushel, making a net loss
since the market opened on Thursday
largely to increased hedging operations
and more or less selling, which was
credited to Europe. Cash handlers are
beginning to utilize the opportunities
offered to hedge against their holdings,
and the selling was more aggressive
than the buying. Furthermore, the ex-
port demand was of much smaller
volume and offers from the interior
were larger. There have been some
large export sales made during the
last week and Europes needs are
quite extensive. 1t was announced
from Liverpool that the British Com
mission had withdrawn from the mar
ket and it looked very much as if for
elgn buyers were inclined to limit
operations for the time being in the
hope of prices going to lower levels.
Receipts Of wheat are picking up Ut
primary points and cash prices at the
seaboard tor export wheat were down
about 8 cents per bushel from those
prevailing earlier in the week. In the
local cash market No. red and No. Q
hard wheat were quoted at 1922 c. i. T.
track forward shipment.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Financial Items

The committee on securities OF the New
York Stocls Exchange has ruled that the
National City Bank stock be not quoted
ex rights August 10 and not until fur
Their notice: also that the South Porto
Sugar Company common stock be not
quoted ex 100 per cent stock dividend on
July "a and not until August 9. Applica~
tion has been made to list Phillips Petro-
leum Company 10000 shares additional
capital stock, no par.
The United States Mortgage and Trust
Company has been appointed registrar of
the. capital stock of New England Cereal
Company
PIGGY Wiggly Stores, Inc, reports sales
for the quarter ended June 80 of 81. 03l. 1853,
as against S4,412,5S9 for the previous quar-
ter. Profits for the periods were. respec-
lively, S23o,512 and S1o2.s02. The COM
pany had 24s stores in operation on July
is, with approximately fifty ready for
opening on or about August /.
The Stock Exchange has received notice
from the National City Bank of the pro-
posed increase in capital stock from SIS, =
O00, 900 to $40, 000,0 900.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Market Rallies at Close

When it appeared yesterday that the
market was about to break through the
mornings low prices a rally got under
way. which in some of the principal
speculative issues about wiped out the
earlier losses. The recovery, in the
opinion of market observers, was not
very convincing, however, and follow
er3 Of the tape said that the action
Of the market to-day would probably
determine whether the rally would con-
tlnue further. Money was one of the
chief considerations, influencing the
operations of traders. When they saw
the high renewal rate of per cent at
The opening they Immediately started
to increase their short lines, but when
1t was apparent that money was COM
ing in at that rate they began 70
cover, on the expectation of lower
rate before the close. This expectation
was later realized in an per cent rate.
That there is still large short inter
est in the market was indicated by the
heavy borrowing Of stock at the end of
the day.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
In Wall Street
"Pan Pete" Financins7

The fact that representative Of
Blair g. Co Inc. had conference yes
tcrday with E. L. Dohcny, president OF
the Pan American Petroleum g. Trans
port Company, and his attorney. gave
rise to reports of new financing. 1t
was noised about the Street that there
would be q new issue Of $4,000, 900
notes, for the purpose of raising funds
to increase the company's tonnage o?
tank steamers. Although no Official
confirmation of the report was obtained
there was disposition to give it some
crcdence in financial circles, particu-
larly in view of the fact that neither
Mexican Petroleum nor Pan American
have yet entered the market for funds
when other oil companies have been
doing so. Should the Doheny company
decide to issue notes at this time it
would not be surprising if the offering
contained a convertible feature.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Selling Pressure
Sends Curb Issues
TO Lower Figure,
Stocks Continue to H..
cline as Buying Fall,
Off and Net Advance,
of Last Week Are Jos

Speculative issues on the curb no.
ket continued to move toward lows.
levels under yesterdays selling prs,
sure, and some of the less desi,.,
stocks reached new low grounds
few ~eld fairly firm under the circp,,.
stances and these were the only ons,
to show net advances as the resul, =;
last weeks upturn.
In majority of cases prices ue,.
down to the level from which the Nm.
swing, started, or in some cases loxs,
and traders saw little hope OF immeS'
ate recovery because of money con5.
tions. Apparently short selling va,
not so much responsible for the pen.
eral weakness of the list as a wd..
spread movement to reduce commit.
ments and take what profit was left i
the gains made last week.
Virtually all active issues showed ne,
losses for the day, but in most csse,
they were fractional. In some IN
stances, however, declines reache,
more than point without recoysres
Carib Syndicate, under pressure again
got GOWN 70 Ia, DuI moved up Traction
ally on covering. Fensland Oil lest
fraction of Thursdays advance, Win
Maracaibo Oil. Merritt and Midwey
Refining were slightly lower. Salt Cree
aid White Oil, on the other hand, wen
fairly firm and sold near the closia,
quotations of the day before. Simm
Petroleum and Tropical Oil were easiel
In the industrial group lack Of de
mand was general except in Aetna Ey
plosives, which showed recovery I
II. General Asphalt broke through
for the first time in several days, bu
on the last sale was a fraction aboy
this figure. D. W. Griffith, Inc, acte
well, however. Gardner Motors, Guar
tanamo Sugar Rainier oMtors an
Retail Candy were slightly lower
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Pre-War Wheat Marketing

OTTAWA, July 16.-The wheat crop
OF 1920 will be marketed by pre-war
methods, the Dominion governme mt
having decided that the present wheat
board no longer shall function as far
as this crop is concerned, it was an
nounced to-day. The government may
exercise the right to proclaim "enab-
ing Legislation enacted at the last
session OF Parliament permitting con-
tinuance OF the present wheat board
If circumstances outside Canada mako
it necessary.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Chicago & Eastern IIlinois

Henry Evans, chairman of the COM
mittee of bondholders for Chicago &
Eastern Illinois Railroad general con-
solidated and first mortgage per cent
bonds, has issued statement review
ing the reasons why a plan Of reor-
ganization has been delayed, including
the governments refusal to accept the
decision of the board Of referees ap-
pointed by the Interstate Commerce
Commission regarding the controversy
over the roads Federal compensation
Mr.. evans concludes by saying: "The
late strikes of coal miners and strikes
of railroad men have affected the op-
erations Of the road, but we are re-
liably Informed that your road is in
physical condition to handle its bust
ness economically, and that with the
settlement of the wage questions and
the increase in rates which will be
granted the railroads the receiver ex-
poets the earnings of your road will
be very satisfactory"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Chemical Merger Believed Near

1t was reported in brokerage circles
yesterday that an announcement may
be made some time next week of the
completion of plans, for merging Bar
rett, National Aniline, Semet-Solvay
and General Chemical. If the much
talked-of consolidation is near a CON
summation the market action of the
three stocks listed on the exchange
has given no indication that the mer-
ger Is going through at the prices
mentioned, namely, IS or Sc for Ami
line, 100 for Barrett and 200 for Cen
eral Chemical. Barrett closed yester-
day at 140h and Aniline at 80, while
no sales in General Chemical were re-
corded. 1t was said yesterday that
one OF the reasons accounting for the
expectation that the merger may soon
be put through is the fact that Belgian
interests representing the old owners
of Semet-Solvay patents have sailed
for home and the people connected
with the other three companies have
received word to be subject to cali not
later than Thursday next
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Bears Use Warming Rumor

rumor which could not be TRACED
to its source, but which served as a
basis for aggressive operations on the
bear. side yesterday, said that IAN inn
portant statement" was in the course
Of preparation by the Federal Reserve
Bank. This was taken by most traders
TO mean that warning of the neces-
sslty to reduce loans would be issued
here or in Washington. INQUIRY at the
Federal Reserve Bank failed to solve
the mystery of the rumor, as it was
said that the bank had no statement
to give out. The belief persisted. how
ever, that something would be done to
call attention to unstable conditions OF
commercial credit.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Regular Declaration
Stocks Elk Dividend

Date Company Por cent
July 17-Anaconda Copper Mining Co.
July lib g. o Co pf. .....
July 17--Kelly- Springfield Tire Co
In c & X in com
July 17-Loew's, Inc ................. u
July 17--Muilins Body Corp. .........
July IT, do pf ........... 2
July 17-Pere Marq, " ctfs pr pf... l \
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Money and Credit

Call money renewed at 8 per cent
yesterday, but no higher rate was es-
tabhshed during the day. This high
rate served to bring in funds and be-
fore the close the rate had dropped to
8 per cent, despite the fact that brokers
mad to borrow enough funds to carry
them over until Monday. Time money
uns rnchanped
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Hopeful About Credit

Discussing the credit situation,
Z. A. Morse had the following to saw
yesterday: There is little to Justify
the critical attitude of outside banks
unable on occasion to place funds at
the rate maintained at the Stock Ex-
change. There is no desire for an
lnrush of funds which might start a
stock speculation big enough to threat
en- effective money control later on
when in the natural course such out
side money would be promptly with
drawn for use at home in the support
OF the customers of such banks. This
IS the reason why, though general con-
dltlons seem to be improving with sat
lstactory crop news and relaxation Of
railroad tension, banking interests are
dlscouraglng excessive speculation,
though generally holding that liquida-
ton has SO completely discounted what
we expect of further industrial de-
preston that the investor may buy
tested securities with fair safety Our
feeling is that the East will get
through without serious difficulty if
careful and conservative, and that ~
to 10 per cent rates some banks in the
West and Southwest have been pay
ing on part Of their borrowings under
arbitrary enforcement of the Phelan
amendment of the Federal Reserve act
are proper and simply in accord with
what security markets have passed
through and likely to prove their eff
cheney when fall demand for money in
the interior reaches its peak"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Dividends

st. Lawrence Flour Milis--An extra div
idend of per- cent share has been de-
clared in addition to the regular quarterly
dividend of / n per cent and y per cent
on the preferred, all payable August to
stockholders OF record July 20.
Regular Declarations
Pay Sholders
Stock. rate and period. able OF rec.
Kaufman Dept Stores Inc.
81; Northumberland Aug 2 July 20
Patchogue- Plymouth Mills
Corp pf. 50, q......... Sept Aug 30
Trenton Potteries non-cum
pr, 81 ................J July "a July Is
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17

Ycster- Year
day. ago.
Or mixed collateral. .... 8 6
On industrial collateral. 8
Time money (mixed col
lateraD:
Sixty days .s@sA 5%@e
Ninety days .8@8h 5%@6
Pour months ...... .8@81s 5%@6
Four to six months .8(08h 81 @6
Bank Clearances-Bank clearings at
New York yesterday were: Exchanges,
5,281 1914; balances, $74,394, 432.
Silver-London,> 52hd; New York,
domestic, 99kc; foreign, 9oAc; Mex
lean dollars, 68&c.
b-Treasury-United States funds:
Reserve credit balances, $55 ,439,559.
Canadian Exchange-New York funds
in Montreal, $135.62 premium per
81 900; Montreal funds in New York,
$3.50 discount per $1,000.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Leave for Mexico

H. S. Brown, president of the Mex
lean International Corporation; John
R. Hall, Of Knauth, Nackod & Kuhne.
and A. ]. McQuatters, president of the
Alvarado Mining & Milling Company.
left yesterday for Mexico. The trip
is planned to inspect the Alvarado
properties at Parral, State Of Chihua-
hua, where the company operates one
Of the worlds great silver mines.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Views on Rate Decision

The announcement that the Railroad
Labor Board will make public its award
on the demand of 100000 railroad
workers for an annual billion dollar
wage increase next Tuesday gave rise
to reports yesterday that the decision
in the rate case will follow quickly
after. An investment banker said he
believed the answer to the application
of the carriers would be handed down
by August l at tho latest. On the other
hand railroad man who has been fol-
lowing closely the developments in the
rate case predicted that it would be the
middle of next month before the Inter
state Commerce Commission could pos
sibly make known its decision, mas
much as it would take several weeks
before it could be correctly ascertained
what the wage award to the railroads
would mean in the way of increased
costs.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
Invincible Oil Weakens

Invincible Oil, which had been a bull
wark of strength in the market in the
earlier days of the week, succumbed to
heavy selling pressure yesterday and
broke from 45A to AN. At the clos
ing price of 42% the stock showed a
net loss of three points.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-17
The Dollar i'm Foreign Exchange

After an early display of strength
sterling exchange yielded yesterday
and closed substantially lower. Most
of the other exchanges were also
easier.
Quoted dollars to the pound)
El Imparcial. (San Juan, P.R.) 1918-197?, 1920-08-09
Sci LECTION FILM SERVICE.
Eel DERECHO A MENTER"
PELICULA EXTRAORDINARIA
DOLORES CAsLNELLL

Que la SELECTION FILM SERVI-
CE ha presentado con extraordinario
6xito todas sus pelfculas de lujo es
un hecho indiscutible.
RecuerClan nuestros lectores ell dra
ma que todosi conmovi0 intensamen
te: La PEeDet1a9 ;.
Fu6 esta la cinta diScutida de la
temporada y la que dio espl6ndida
oportunidad a la hoy popularfsima
actriz Fannie Ward, para que Ell pd,
'blico Ell general pronunciara su fallo
mas favorable sobre las condiciones
excelentes de esta admirable inter
prete del arte mudo. @
,"LENGUAS VIPERINAS y, f u e
aplaudida sin reservas; en- esta pell-
cula, por veZ primera pudimos darnos
exacta cuenta de los meritos de la
sugestiva actriZ Dolores CdSinetE.
Sobre Dolores Casinelli, es diffcil
decir algo que resulte original
La bella italiana, con 10 que bieh
pudidramos lSamar, su Icgeaci0n de
El Imparcial. (San Juan, P.R.) 1918-197?, 1920-08-09

una nueva escuela artfstica, ha que
dado consagrada y cOnvertida por los
cronistas cinematograicos, en- ell cell
tro de attraction, ell la fuente maravi-
llosa la que todos Sc acercan presu-
rosos de apurar ell, elixir divine de la
inspiration. -f g ..s..f st t..
iQu6 aprieto, pues, poderle scontar
algo nuevo a nuestros lectOres! ~.
Alberto CapeIlGRi, ell decano entire
los directories de 'pelfculas de artes, ha
tornado una importante corporation ::
Alberto CGpeHaDi Productions, Inc., y
entire las estrellas de primer magni-
tud, escogi6 a Dolores CdsinelH, para
interpreter el papel principal en- la
original y bella production: GEL DE-
RECIO A MENTIR". 81 'r'
-. Y la SELECTION FILM SER
VICE deseosa de cimentar Y sostener
sm fama como casa que importa pelf-
culas de eXtraordianrios m6ritOs, con-
trat6 los derechOs de eXhibici6n para
Puerto Rico.
Ell solo tftulo de la Obra, nos dd La
idea de 10 original y complicado del
argumento. ~
Las obras tragicas que NADIA ense-
iian que por 10 inverosimil de
sus argumentos, pasados los instantes