davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-06-28
:. Il. o. Sign Brings Bids
Of 100000 for Seats
After Stock Exchange Building Operations Are Com
pieted Board May Enlarge Membership for First
Time Since 1879; Routine of Initiating Brokers'

Measured by Broadway standards,
the New York Stock Exchange has been
an unparalleled success, for since half
century ago it has been able to offer
standing room only" to those who
sought admission. In the old DAYS
there were seats enough to 60 around,
but, although the last thing a member
of the exchange would do to-day would
be to sit down during trading hours,
the pristine phraseology persists, and
folk still speak Of buying a seat on
the exchange.
Allan A. Ryan, head Of the Stutz
popuarlze the intricacies of the Stock
Exchange, although critics disagree as
to whether he has added to or detracted
from its popularity. Mr.. Ryan offered
his resignation, and the exchange ex-
PEELED him. BY whichever method his
relations with the exchange were really
terminated, there is no doubt that
there is now a vacancy.
member in good standing has the
right to sell his membership to any
other individual at any price he
chooses, but the buyer must satisfy
the committee of admissions. consist
ing of fifteen brokers, that he is de-
slrab'e according to their standards.
retarJ OF the exchange may sell the
seat" the proceeds going to the ex-
pelled member.
Labor turnover among Stock Ex-
change members is not so great as in
some other trades, but is larger than
Is commonly supposed. In the last
twenty years there has been approx
mately 1900 sales of seats, and the
entire membership is limited to 1,100.
Impossible to Find Seller
When man has reached his major
ity ard attained desire to become a
member in good standing of the
worlds busiest stock exchange-that
is, busiest, when folk are actually buy
ing or selling stock, not deadlocked
with doubt, as at present-he must
find a member Of the exchange who
wants to withdraw and sell his seat.
In practice, the market for Stock Ex-
change seats exists in the secretary's
office. Often it is impossible to find a
seller. and this suggests one of the
which has frequently been criticized
its exclusiveness. The Pujo Investi
eating Committee in Congress recon-
mended in 1913 that the exchange in
crease its membership. Up to the
present nothing has been done and the
maximum limit remains as it has been
since 1879. During the bull markets
last year even some exchange members
thought the membership ought to be
increased for practical reasons, as the
volume Of business was almost too
great for the existing members to
handle.
The Stock Exchange has an elaborate
building program which is now being
executed. In the reconstructed build
ing the trading floor will be double its
present size, and will bring to a focus
the question of enlarging the member
ship. 1t is not unlikely, in the opin-
ion of independent observers, that the
exchange will decide either to increase
the membership or to follow the Eng
lish system of permitting clerks to
trade on the floor in the name of mem
hers
New-York tribune., 1920-06-28
His Motto Is Safety First

Question-Pease tell me what YOU think
OF the p per cent Belgium bonds Are
they a safe proposition for a poor man?
Ihey look so attractive would like to put
81 900 IN them, but l want safety first =
3. S.
Answer-Belgium shows signs Of
more rapid recovery than any of the
other continental nations, besides
which it has the moral and perhaps
the financial support of most nations.
For these reasons we believe the 10
per cent bonds offer rather unusual
opportunities. There is, however. an
element of speculation in the purchase
of most foreign securities. Political
complications may occur which might
cause changes and affect the finances
of nation. We think it rather remote
in this case. There are many good
American bonds selling on basis to
yield from over per cent to per
cent. If you wish the best in bonds
Liberty issues yield over 5 per cent
good railroad and industrial bonds like
St. Paul Railway general 4 per cent.
Illinois Central 4 per cent, 1858;
Wabash first per cent, Atchison nd.
JuStment per cent, Illinois Steel IL
per cent and American Telephone s
per cent yield from per cent to over
per cent,
New-York tribune., 1920-06-28
New York Central 6s

" cuestion-What do you think of New
YORK central debenture 6s bonds as an in
Vestment? What denomination are they
and when do they mature? Also same
questions on southern hallway 5s and As
How about $1,000 to invest no specula-
ton prefer bonds to stock Have
some Liberty bonds, but don't care to rut
an my eggs in the same basket would
like a good bond. if in $500 denomination
would prefer to split the $1,000. }. H B.
Answer-New York Central Railroad
convertible debenture 6 per cents are
que Que May /, 1885. There are sl00,0o0,-
ooo' convertlble into stock of the COM
pany"at 110 and interest. They are NOT
secured by mortgage We regard them
as very fair Investment. The de-
nominations are 500, $500 and $1,000.
Southern Railway consolidated ) per
cent are due 1894. There are $72 .s09.-
600 outstanding and are a first lien on
1923 miles and a first collateral lien
on 52l miles, d second lien on 489
miles, second collateral lien on 23S
New-York tribune., 1920-06-28
Change Is Not Necessary

Question: have some shares Of Great
\ Northern preferred. Would you consider
II advisable to switch into Northern Pa
cthc at this time j. S.
Answer While Northern Pacific has
than Great Northern, we believe on ac.
count of the declaration of the regular
dividends recently that the directors
believe the outlook is more favorable
The Great Northern Railway has an
issue of 20000,000 of notes maturing
September l next. The uncertainty
regarding the method of financing has
perhaps tended to keep the price of
Great Northern stock under that Of
Northern Pacific. AS a matter of fact
we see very little to choose between
them.
New-York tribune., 1920-06-28

The full membership Of the ex-
change does not trade on the floor.
On busy days, there are sometimes as
many as $50 on the floor, but nearly
half of the memberc are usually in
active. The membership includes 200
out-ot-toNn brokers, many aged men,
and more than 100 capitalists who do
not trade for their own account or for
customers.
Some Queer Sales
Although for fifty years the secre-
tary's Office has been the marketplace e
for seats, sales have occasionally been
made elsewhere. About fifteen years
ago, Bronx milkman bought seat
on the exchange that was disposed of
by marshal at forced sale. The
milkman had obtained Judgment
against member who had failed to
pay his milk bill, and his seat was
seized as an available asset Under
the hammer the seat brought s15. The
member whose seat had thus been
sold was out of town at the time. He
returned, paid his milk bill, and got
the court to upset the sale on the
ground that the price obtained was
out of proportion to its value because
it had not been offered in the proper
mission to the floor in the rnantime.
but it was never granted by the com
mittee on admission.
A similar case arose about three
years ago. A member married an
actress, but the romance did not per
sist and divorce proceedings ulti-
mately came. The wife was to re-
cefvee alimony, but the checks did not
reach her. She got judgment against
her quondam husband, and his seat
on the exchange was auctioned off at
forced sale. A motion picture man
bought it for 81 .0OQ but was never
seated
The last previous sale had been made
at $50, 900, and the ex-member's law
yers prevailed upon the court to upset
the sale on the same ground as in the
milkman's case.
Seat Not "Property"
AS the Stock Exchange officials view
it, seat in the exchange is not prop
erty, because the exchange is not an
incorporated body, but voluntary as
sociation. A seat is merely right to
trade on the floor under the standards
set up by the exchange.
A wouldbe buyer goes to the secre-
tary's office and makes bid for a
seat. If any member is willing to sell
at the bid price, he accepts and buyer
and seller sign an agreement transfer
ring the right. Then the buyer ap-
pears the following Thursday before
the committee on admission and is
examined. His name is posted for
two weeks, and then he is voted on,
needing ten votes for election. The
decision of the committee cannot be
appealed from.
The initiation fee has just been
raised from $4,000 to $4,000, and the
ing the fouris shing days of rising mar
kets, and as low as $4,000 forty years
ago. The last sale was 100000 and
100000 has been bid for several
weeks. If Allan A. Ryan's seat is
forthwith sold, it will bring about
100000.
New-York tribune., 1920-06-28
Crucihe Common Dividend

Question-ls Crucibe Steel common pav-
ing 16 "a per cent extra stock and a
81 cash dividend payable July 81 to holders
OK record July l5? II I buy said shares on
July 10 VII! receive dividends? Ia
Crucible Steel preferred a good invest
ment? Is Cannon & Stamm Company q
reliable broker u. A. b.
Answer-You are correct about the
dividends. If you purchase shares UP
to and including July IA, you will re-
sceive the dividends. We regard Cruel
Bile Steel preferred as good invest
ment. This issue does not particinate
in the stock dividend mentioned above.
We do not attempt to pass upon the
standing of brokerage firms.
New-York tribune., 1920-06-28
Curb Market
lndustrials

20.
zoo Armour Leath
1900 Auto + & G..
500 Brier H Steel.
$500 BRAN Chem.
400 Bra Tob cou.
200 Bucyrus Co.
500 Buddy Bus.
1000 Car L g. Y.
45 Can G &; + pf.
$4,000 Chic Nipple
100 Cent Ag Sugar
400 Cleveland Auto
500 Conley Tin +.
90 Colonial Tire.
900 Cont Motors.
! 90 Dom Steel old
GOO EN- pire Steel.
400 do pt.
POO Empire T & s.
500 Farrell Coal.
1890 Gen Asphalt.
zoo Goodyear Tire.
500 do pf.
100 Goldwyn Pic.
100 Godschaux Sug
23G00 Grape Ola.
$4,000 do pf.
200 Guanta Sugar.
1900 Hayden Chem.
1900 Hero Paper. =.
900 Hydraulic Stl.
400 do pf.
$500 I T of G B&I.
2s00 Ind Packing.
500 do pf.
1900 Int Rubber
5000 Kays Co Gas.
400 Keystone Sol.
90 Lib Men & l..
1860 L.ig Int c CT. .
$500 Lig Mar Coal.
100 Lin NJ CT A.
400 Mercer Mot.
1900 Nat Leather.
500 Nat Firepf pf.
$500 Nat Vana dunn
45s00 n a = & p.
600 Peerless Mot.
5l00 Perfec r q z
200 Print Bieder.
400 Radio Co.
400 do pref.
500 Rainier Motor.
200 REQ Motor o..
II 4o0 Republic Rub
400 r J Rey p W 1
200 Root & Wand
49f0 Roy f # b.
255 Singer Mfg.
600 Stand G g. Ell
500 do pref.
17c0 Submarine Bt.
GOO Swift Inter-.
$500 Swts Co of A
1000 Times So Au.
100 Todd Shipyds..
$1,000 Tn Drug ret.
1900 Tn Pic Pr G.
2e00 Tn Profit Sh.
3400 L s II Sp r.
200 Tn Carb.
5000 Tn Ret Candy
SEQ u S Distrib.
400 L S L & II.
17l00 L S Steamship
600 L S Transport
700 VIM Davies.
500 Wyllis Corp.
400 do 1st pref.
200 do % pref.
0S20 VT Mar Aero.
New-York tribune., 1920-06-28
Investment
Information

Questions Of general interest to
snvestors rtU b ansuersd in tAls
column, in phach case only initials
so'H be usea. Others will be az.
stoersd by mail. Address all in.
qutr1es, inclostno stamped, ad-
dressed enrslops. to Financial Editor,
xhe Tr1tvns, Is4 Nassau Street, Nsw
York City.
New-York tribune., 1920-06-28

miles, third on 6l5 miles and q
fourth on 808 miles. We regard the
bonds as good investment. Denomi-
nations, $1,000 only The Southern
Railway per cents are a general lien
on the property, subject to sl33,6 900
of prior liens. They are a fair invest
ment. Denominations $1,000 only.
New-York tribune., 1920-06-28
Argentina Aids u. S. Trade

BUENOS AYRES, June 26-Ameri-
can salesmen, with the exception of
those handling alcoholic drinks, are
freed of the necessity of paying more
than one license tax under the terms
of a treaty which has been agreed
upon by the United States and Argen-
tina. Heretofore salesmen have been
required to pay a separate license in
each province.
New-York tribune., 1920-06-28

CONTINUED on neat page)
New-York tribune., 1920-06-28
Notes Have Speculative Featnre

Question: shall very much appreciate
your opinion of the American Iieht &
TRACTION Companys 1--WE year per cent
gold notes described in the circular herein.
Would you classify it as first grade in
Vestlnent y. Il.
Answer-We regard the per cent
notes Of the American Light and Trac-
ton Company as a good investment
The stock purchase warrants attached
to the notes give them a speculative
future of value, without detracting
from the security Of the note.
The evening herald. (Klamath Falls, Or.) 1906-1942, 1920-07-08
HEROINE HAD HER SYMPATHY
Swedish Maid Teek Paragraph In
Book Which She Wss Reading
Little Too Literally.

One NJ the pecuiinrities Of our Ian.
runre was brought 10 the notice Of q
Chicago woman by her Swedish maid.
This girl had attended night school
for some weeks and was delighted by
her attachments In English. She ex.
pressed her wish TO try her knowledge
by reading q story In English. and the
mistress recommended for her perusnl.
a tale called "A Modern Cinderella" /"
then running In one Of the magazines.
II was simply wordcd and appeared
not 20 present any linguistic pitfalls.
did you like Il. Hildaf" asked the
mistress, when the magazine was re-
turned.
"Yns. ma'am," was the reply. "but
am sorry she had no much trouble and
those glass eyes. too. My brudder. he
had one glass eye. and II was hard for
him."
The lady Of the house was puzzled {;
30 Hilda unfolded the magazine and
pointed with q respectful finger to the
following undenisbie proofs:
"As Polly moved about the Kitchen.
doing her work. her eyes suddenly fell
on the letter which iay unopened On
her aunt's lap.
"'Eeep your eyes where they he
long, said that lady sharply. and poor
Polly colored with shame"
The evening herald. (Klamath Falls, Or.) 1906-1942, 1920-07-08
How the heart 0esta

A normal heart. from long before
birth to death, beats roughly once a
second, and II II stops beating at any
time Of day or night or weekday or
Sunday for as long as sixty seconds Il
never begins beating again. The nor.
nnl beat begins at the top Of the heart
and runs down TO the bottom of the
heart with the regularity OF toss
running down the length OF a rope.
When the toss, however. instead Of
running regularly down the length Of
the rope. scatters Its force and merely
sets the rope shaking feebiy through.
out Its length Il loses Its force. and
In the same way when the beat of the
heart instead Of running regularly and
easily down from the top Of the heart
10 the bottom merely sets the heart
feehly a'Quiver We have the condition
called filtration.
The evening herald. (Klamath Falls, Or.) 1906-1942, 1920-07-08
CAREER or 4Neo suN1Llwr-
Writer o. Sensational Stories Once
Extremely Popular Had . einov-
iariy Adventurous LIE.

"Nrd BuBiline." whose renl name
was E. z. G. Juds0n. hmd . career
which ~ns on ifs plane ROoseveltian
Gargoniuan snd TartsriDian. II In de.
scribed In Life ard Adventures of
Ned Buntline.'" by Fred E. Pond. 9th.
-rwise VIII wildwood. says the DE.
roit News. Judson ran sway from
HE home when eleven years old. In
1874. becsme q sailor and then . mid.
shIpmsn. A. hfteeb he fought Q duel
with seven midshipmen Who bad de-
cIIned 10 mess with him.
when seventeen years old Judson
served with distinction In the Sem.
inoIe war. lie became . hunter In the
Evergiades. then hurried of 10 the
Rockies In the employ Of the North.
west Fur company. turned back 10 the
Southwest. where he married and
fought more duets.
Judson became Q mainstay Of the
Knickerbocker magazine IN its best
years and was % violent . beGetter Of
sensational .0mances that he once
wrote book Of go pages In az hours.
tie turned into . patriot with the
Know Nothings. and on account Of
his shnre IN the Astor place riot was
sent to the penitentiary for q year.
Tie then took himself 10 the Adiron.
dscks. which he helped make classic
ground for sporfsmen. lie served In
the Mexican and Civil warS.
ssa 81
The evening herald. (Klamath Falls, Or.) 1906-1942, 1920-07-08

visdivoStok carried 1850 Germss.
Austrian and some Turkish war pri.
onerr from Siberian and Chinese
points.
In q speech Of welcome 10 ths peo-
pie from Ts!ngtau Admiral Tsegert
said although Germany had been
besten In the Far East seed had been
sown there which would restore the
honor Of Germsny'a name.
Adminai Meyer -wsldecN. accord
Ing to AN agency report. replied that
since the end Of the war . strong re-
vuiaion of feeling In favor Of Ger.
many had set In In Japan where
there WAS much indignation at the
Ent.nto's interpretation Of the peace
treaty. japan had great faith In
Germany'r future. he added and able
diplomacy would doubtless succeed
The evening herald. (Klamath Falls, Or.) 1906-1942, 1920-07-08

In re.es,sbiishing the former friend
iy relations between the two coun-
tries.
The Japsnese general star. con-
tinusd Meyer-waideck, believed 10
the end that Germany would win the
war
Minister koester welcomed the
other repa,riated persons with hochs
for the Fatherland.
The evening herald. (Klamath Falls, Or.) 1906-1942, 1920-07-08
Fashions In Suicide.

II seems that there are fashions In
suicide. A medical Journal traces their
history from the stone age. when men
sought death by jumping from cliffs
or disappearing In the sea. The an
Client Egyptians poisoned themselves
with prussic acid extracted from peach
kernels; the Italians Of the Renais-
sance used weird combinations OF ar
senic. Shooting came with the chesp.
enins of firearms asphyxia with the
uss Of gas for lighting. Carbolic acid
was the tavorits method when every
household kept Z bottle of thls for
dshtins bedbugs. The death a .
banker from an accidental dose Of
eeyepric chioejde lcesvesivs G1blt
nAtsl sst . new fsshieA
Perth Amboy evening news., 1920-02-02
The Spoiled Dresses

~ 49,
But not a soul answered. just a
chattering and fussing within the
little house under the water. 1t was
no wonder no one heard Nick's timtd
knock.
1t seemed a queer place for them
to be hunting for Jocko, but the mag
ical mushroom advised them to try
You see, there really wasn't any place
they couldn't go so long as they had
on their green shoes. And besides,
the mushroom said, it wasn't as
though Jocko were a real monkey,
A top monkey stuffed with sawdust
could be lost anywhere.
Tap, tap. tap!" again.
This time the tadpoles heard. There
was sudden quietness. then Tiny Tad
pole opened the doors bit and peeped
out the crack. WHO'S there?" she
asked. rs it the dressmaker?'
Nancy and Nick answered. quite
astonfshed, that it wasn't. They had
only come on an errand.
Then you may come in" said
Tiny, opening the door wide. But
Mothers busy and-cross at every
thing"
Yes, Mrs. Frog was busy and cross,
too. She had all the little tadpoles
Perth Amboy evening news., 1920-02-02

wife, Lady Anne, and french Esther
Araxie AZgapetian. whose baby eyes
opened upon scenes of horror and later
through them saw much of the suffer
ings Of the people Of Armenia.
The family are making their tour I'M
der auspices of the Near East Relief,
the big organization which has saved
hundreds of thousands OF the people
In that part of the world from death
by hunger and cold and is soon to open
a nation wide campaign for funds to
complete the work OF saving the sur
vivors, more than a half million OF
whom must perish unless aid comes to
them soon. America Is their only hope.
General Azgapetian served CALAMITY
In the Russian armies in the Caucasus
against the Turks. His wife, who ac-
companled him to the front, did noble
work for the wounded and sick, and
II was while in this service that her
baby was born in a hospital tent during
a battle. An army blanket swung from
two poles in one corner of the tent was
the haby's crib during the rest of that
terrible winter campaign. With the
collapse of the Russian armies after
the Bolshevist revolution the Azgape'
tians returned to Armenia for a brief
spell and did their best to alleviate
the suffering they found on every hand
But with q Turkish price on his head
the father finally made his way with
his family through Russia to Finland
and then to this country y
Perth Amboy evening news., 1920-02-02

CaHrShe6 1919 b. the - N<pqpSG fe1<zzASorahaa
The men

The men objected.
"A very little food viii suffice for
Us men," aid the doctor. we a
live on water for quite a while, you
know"
And let your strength run down."
I commented Indignantly. Then
you'll be Of no use whatever to US
'Women-in case we may need you
awfully-maybe to fight for us-be-
fore We get out of here I said. and
my sincerity brought the tears to my
eyes.
Chrys was standing between the
two men. Being unable to speak, she
put q hand on a wrist Of each-and
simply smiled. I think her touch. not
my plea, won tho decision 1 wanted.
Jordan Spence spoke Immediately:
LAS you will, Mrs. Loriner." And he
proceeded to make a fair division of
the food-with Chryys TO oversee the
Job.
I thought. as I watched them, hat
at last l had found a man who was
really worthy to WOO and win Chrys-
tobel LOrimer. DR.. Spence would
understand her, and humor her as
much but no more than was good fer
her. And I remember with a great
gladness that although h had mar
ried Hamilton Certeis. she had
been his bride.
Al tire TIME W INC WChAN'5 SAAS hd0
thought herself in love with Certeis.
That IS why he had been able to
coerce her into the ceremony. How
ever, she had at the time approved
Of his liberal political ideas. She
had, more than once. defended his
sentimental fantastiea1 ultra-mod-
| ern radicalisnl. She had liked to think
herself one of the mentally elect, n
of a group which would reform this
old earth!
"Chrys has been asleep in more
WAYS than one" said myself to myself.
Maybe this splendid Prince Charm
ing is the real man who will wake her
and restore her normal sense as
we'll as her speech!"
resolved to tell Jordan Spence all
about her as soon as I could shape
an opportunity to do so.
! (To be Continued.
Perth Amboy evening news., 1920-02-02

A bug may hold up a locomotive. 1t
takes a large number to do the trick,
but 1t has been done. Specialists In
the train holdup line in bugdon are
the army worm. the tent caterpillar,
the cotton worm and migratory To-
Gusts. Huge water beetles travelling
in force have been known to accom-.
plish the same feat. When these In
sects a upon the track they so
effectually grease the rains that no
wheel can be kept turning.-Boston
Post. 1880 ~'~ h-- 'ee~