davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-10-17
Consolidated Copper Bonds

Question-Wiu you be good to al
Wise me fully about Consolidated Copper I
per cent convertible bonds? should keep
mine or sell them at these low prices' p
Il. II. r.
Answer The Consolidated Copper
Mines Company has shown deficits for
the last two years. In 1918 it was
S11,995, and in 1919 $3.50, l2O. During
the first four months Of 1920 there was
no production except by lessees. Al
most al copper companies have oper-
ated poorly of late. We do not regard
your bonds as a good investment. If
you can afford to speculate upon the
outcome of the present situation you
may be rewarded. Otherwise it would
be best we think, to dispose Of the
bonds
New-York tribune., 1920-10-17
Would Exchange Preferred Stocks

Can preferred which | bought last vear ~
lo3. now intend to sell them out and
nuy ty instead fifty shares American Smelt-
same interest. What is you opinion -
NJ. c. l.. N''
Answer-While the American Smelt-
ing and Refining Company, like most
other metal concerns, has operated
rather poorly Of late, we regard the
company as we'll managed and its So
curltles Gu as sound, in varying degrees.
ne preferred stock has long divi-
uehd record. 1t is more seasoned
~. .han IAN preferred, and in our opinion
inc change is a wise one.
New-York tribune., 1920-10-17
Bonds and Copper Stocks

Question: Kindly give me your advice
Francisco income bond 6 per cent $500
bought at 47ie. Would You advise sell :
ing or holding for another year? Which
is best for invostMe MT, French Norway
per cent bonds For speculative in
Ncstmeut with reasonable egrec of safety,
how a bout Cerr0 de Pasco Copper. Miami
Copper and Kansas CITY Southern pre-
ierred ?--J. A G..
Answer-St. Louis & San Francisco
income bonds are the last mortgage
on the property. We cannot tell as yet
how the road win operate under the
new rates We see no present reason
for selling. Interest is being paid and
the road appears to be in good 'condi-
tion. There is practically no choice
between the French and the Norwegian
issues. We should purchase whichever
is lower in price. Of the three stocks
you mention Kansas City Southern pre-
ferred is probably the safest. The
others are speculative.
New-York tribune., 1920-10-17
Famous PLAYERS Preferred

,-ne,h.r l',,, rinsft,.r rtt'ss s,,.t. ~
cent cumulative preferred stock now Sell
ing around d6l4 4 good Investments How
do you consider Famous Players preferred
paving per cent p c. l..
Answer Cities Service is an oil
company, that is, the greatest part of
its income is derived from the petro-
leum part of its business. While earn
ings are good al present the company
has large capitalization and we do not
recommend it as high grade invest
ment. Famous Players shows good
earning power. However, the motion
picture business is largely a specula-
ton. Large sums of money may easily
pc lost on one picture II it proves 10
be failure. The preferred stock is a
fair business mans investment, in our
opinion
New-York tribune., 1920-10-17
A Fair Speculative Oil Bond

Question-Inclosed herewith please find
.IrcuIar from the Massachusetts, Oil Refin.
ing Company. My interest was attracted
because OF the participating feature and
whIle appreciate the speculative charac-
would have to be moderate, would asks
the courtesy of your consideration and
judgment OF the proposition.-A c. c.
Answer According to the circular.
the interest on the Massachusetts Oil
hennlng Company bonds are earned
over ten times. They are secured BY
first lien and have speculative feature
which may appeal to you We regard
the bond as very fair speculative in
vestmeMt under present conditions
New-York tribune., 1920-10-17
Eventually, but Not Now

. cuestion-W Would you kindly advise me
IL IL thc RUSSIAN bond bought during the war
- 10" OF any value, or is there any way
1"al 'He new government could be made
respohslble FOR these bonds7 If they are OF
no NiIGe now DO you consider they ever
VIII be- (Miss) e. J. ~
Answer-The present Russian govern
ment has repudiated all foreign debts.
we know of no means of making it pay
up at present. Several people are try
ing 10 make 1t do various things, with
small success up to date. Eyentuallv II
IS our belief holders of the external
loans Will receive their money, as we
think Russia will find it necessary to
nave the friendship of the United
States.
New-York tribune., 1920-10-17
Steel & Tube Bonds

Question: have been advised by Sc
cur!ty salesman 10 invest in Steel & Cube
Company OF America per cent general
mortgage bonds due 1924 Before taking
my money out OF The bank for this iur-
pose. would Ak- to have your opinion.
and would also sQprecitr a hist OF bonds
Which you consider as attractive as these.
u 4 5
Answer According to the last earn
lngs statement Of the Steel & Tube
Company of America there is good
margin OF safety in the general mort
gage bonds. For eigh, months ended
August 81, 1920, the next income after
Federal taxes and charges was $780,
GOO equivalent after preferred divi-
dends to SG.54 a share On the common
stock. The company is comparatively
new one, but it has shown good pro
gress. The bonds are not nigh grade,
but we should rank them, based upon
present earnings, as very fair invest
nent
New-York tribune., 1920-10-17
lndiana Standard Oil

Question-Permit me TO ask your opin-
ion OF Standard Oil Of Indiana at $795
as speculative investment for poor
man who contemplstes tho purchase OF
one share In your Judgment Is there
any thing tangible behind the current
rumors of impending stock dividends .
A. NJ L
Answer-The Standard OIL of Indj
ana is q very strong concern. 1t has
a capitalization of $50. 900 900 Its sur
plus is sl05.ll7,257, giving it a book
value Of over $3.50 share 1t pays
~ per cent and Il per cent extra
surplus causes the stock 20 sell where
it does 1t may be selling too low. and
then again it may be selling too high
Therein lies the speculation. If YOU
feel willing to join the game knowing
this we bid you good luck.
New-York tribune., 1920-10-17
Copper Stock Sapging

Question: would like to have informa-
ton on the following points D) Would
Of cents a share on Goldheld Develop
ment stock ? CD Can you tell me- if the
Royal Bank of Canada is reliable bank
to do business with ,s) | hold shares
Of the Chile Copper Company, Kcnneco,t
Copper Company. Consolidated Copper
Company, southern Pacific Company and
these shares? a. What do you think Of
the the Merritt OIL Corporation. Oklahoma
producing and Refining, Glenrock Oil and
Royal Dutch? 90 | also hold notes duo
1922 OF Goodrich Rubber Company per
Syhi What aHa no Sn MlddIT Wet nli'jes due 1924
advise increase hollings?-R H. J.
Answer - We do not know enough
about the operating position of Gold
held Development to advise YOU to
Pay the assessment. We do know that
such a payment would be further
speculation to recoup your loss on the
first commitment. We do not advise
about speculative matters. The Royal
Bank of Canada is high-class institu-
ton. We do not see how you can expect
an early rise in the copper shares you
mand show no signs of life, but the
expected autumn Increase in business
has not materialized and prices are
sagglng. Since you wrote your letter
your rails have already improved.
They are not investment issues. but
If are in position to speculate
on the chances Of higher earnings for
Southern Pacific and Atchison we ad-
wise you to hold on We do not feel
warranted in advising you about buy
ing the oil stocks you mention. All are
speculative. Royal Dutch is probably
the strongest. Your B. F. Goodrich note
is all right. We see no reason for APP
prehcnsion about the Middle West
Utilities bond at present, and it is
our opinion that the position of this
along with most Of the others
in the same line, should improve be-
tween now and the maturity of the
issue. We would not advise you to
increase your holdings Of these two
particular issues, because the present
market offers others just as good, and
by buying some of them you would be
diversifying your investment.
New-York tribune., 1920-10-17
HIiSsOuri Pacific Preferred

Question: have "A few shares OF Mis-
souri, Pacific preferred per cent accumu-
lative. Issued in 1917 in the readjustment
in lieu of bonds held at that time. What
Is your opinion OF the prospects OF an
carly dividend w. c. x
Answer - The Missouri Pacific ls
showing good earning power. The road
was thoroughly rcorganized and the
increase in rates should do much to
place the preferred stock on a dividend
basis. We regard it as good specua-
ton
New-York tribune., 1920-10-17
Switch Would Be Advisable

- Question-l have 500 shares of Texas q
,rii1 raG4hc Coal and Oil stock. left to me by
SSia.. Srar. ouid you advise holding sa mo at
snare or would you advise selling and
ouy'hs some good bonds?-H. II. f.
Answer-f you desire to have YOUR
FUNDS well invested it would be we'll to
convert your Texas Pacific Coal & Oil
stock INTO good sound securities, for
that stock is highly speculative.
New-York tribune., 1920-10-17
Annrehensive About Willys Overland

Question have some shares Of WHY'S
overland per cent non convertible cunu-'
.atiNe sinking fund preferred stock which
purchased carlY this year at Sc, ana /
ma in the daily reports of transactions
that il keeps going lower and lower In
uric. have ;nissi wings as to the future
OF these shares. and as | am not in a
position to lose money ana writing TO
ask vour advice as to whether ! should
sell Them now and reiuVcst Ia some well
secured bonds such as RIO Graude West
ern general ~ or 81. Paul r
Answer Almost ali automobile lie shares
have declined in price. This is caused
by the cut in certain automobile prices.
Ii is not likely that earnings in the
near future viii be as large as during
the war period What the dehation in
the prices of most articles will result
in we cannot say If il is not to be a
prolonged period we think most of the
automobile preferred shares will man.
nge to maintain their dividends. II
YOU are apprehensive ii might be we'll
TO make change 70 a better form OF
investments Your income might not be
so great, but you would perhaps have
greater ease Of mind. We regard such
bonds as Rio Grande Western consoli
dated 4 per cent. l949; st. LouisSan
Francisco prior lien 4 per cent 1850,
and ST. Paul convertible z per cent,
1882. as very fair issues, They are not
Of the highest grade, but we believe
them safe.
New-York tribune., 1920-10-17
Two Good Preferred Rail Stocks

Question: note quite frequently that
You recommend United Statcs Stecl pre-
ierred. Standard OIL Of New Jersey pre-
ferrod as Well several other stocks as
good and safe Investments DO YOU not
Consider Atchison, Topeka & Santa lre Rail-
way Company preferred and Union Pacinc
Nallroad Company preferred safe in
V"stments as above mentioned industrials
preferred u II. y.
Answer-We regard BOTH the rail
road stocks you mention as entitled to
just as good ratings as the industrial
preferred stocks which we quote from
time to time We do not mention them
when inquirers desire high rate of in
terest because they do not WELD 50 high
g return
New-York tribune., 1920-10-17
Investment Information

Questions Of general interest to in
ceStors 1c'u De Gns7ccrcd in this COL
;''nn' IN 'ch'ch case only initials wii!
oe used. Others ac,U be ansuered bv
n'oa. Address all inquiries. tnclos-
ing stamped. addressed enpclope. to
ftnanctat Editor, The Tribune. ISL
Nossa" Street, Ne,O York City.
New-York tribune., 1920-10-17
Financial Items

George II Walbridge and Lyman p
hammond nayr tesie tb their vic.- prceI-
deneies in Eonbright 4 Co. Inc - 49,
sumo iAsnas cement of several utility come
panieS IN which Bonbright a Co. arr in-
t~rested. They are located a. 3S5 k4ulta-
able Building
The J c. Penny Company 2eports sales
for September OF s4.s73.i3s. an Increase 4
- j.. 80 ard Tor tn nine months. s21.-
2o6.gs-, an increase Of ss.Tlls54
New-York tribune., 1920-10-17
Eta Askrd
Bid Asked

B'a Asked Bid Asked
DO 7th pr. 60 s5 Max N "a pr 81. a.
do Sth pr l0+ los May Dept ST. - g.,
ap Burns Ads9s Bros 50 sS4 % Mex s9 r Pr pr so .o5 o5
10 pr .... 9s is Mich Central 20 80
hsq9'Ti'1 haa ( ?. SO 81 ) y NS@& 80 >,
10 rr M 50 100 d, n INES Is q
Bun & Su- -. Mont Power H-is ~
Bush Tenn Norn- Il F.. 50
Butte G lpi- u NA .inS Body = =
Ca Pet pr $50 oai4i DO pr
can Soaiica 20 so N4sh 4 Chat ~ 10
case } n 81 50 Nai Asmc a. 4
Cen. lea pr. % ~ Nai Ri<'uf io- ii3
Cen o; y J ia 80 DO p- JOG 10
ID pr /, = Nat L@aI
c 4 NJ PHO lse Ntk " lsf - 81, f..
cKI~PB tc pr .1's ~ '@Si. isi -
c ! NJ o cS = BOX -
C GO e pr x l. 81. 81 ii '3 r. F. :, :,
do pr ..... eeis ~ NorfaA 50
Cueit PeaD.. % 7l@. Nerf ~ ~ pr - 80
Co X T.. si14 @ No scy.a s. AZ. 4.
a ) lst pr = - ~'.a fue i,ss
Col Graph rr = 7si. ONT SILVER
Comp TAB Rec - - OF hisy -l5I ~
Goa Cigars pr - s3 10 rr 7af. at
Cost Can - Tlls Or. St.cl .ir
Com Pro- prloo ieil4 DO W - i
IIeA I arr %, ,s Pacific Cs4., - an
ca AZ Su !r ~ Ts'4 Pacific Nai
1e''I Do - "'- sIs. ~ ,ae r 81 43
1, 2e hs,rs ct. q, q, Parish Elas =
~, ~, ' ~ Penn - ll
East kodak 20 ,is I'ere Ma a.
n : l. ~ tl ifl.r lr 80
: \ Pcfu N4Ii
Durham ilo. 81 % r6.' J@.. .@ pr j..
t,s9 t:,,.t.,, ~ n@' H. i-S l...ree o pr 81. 81
En- Bra, u x clf
Eaai ,.,l :, i'se h.. p' ~ :. ~ +. '' r. 90
t;,te q S. nohi cr Goa lfs- lff
Fed N K ; 81. iiie y, :. s.r j., ,ss,. g, 81
Fishe fBody loi li0 s1l' a1' 4 Vines n. = 2.
Frcorert Tex 92i. y Rem r. ,e's
Gen Chem 10 l5s 10 lsf NJ " - .,
c,p '' Il, l,ar pr y ~ r. Do "a pr. - %
o.. ~'o X q : rr. 81 ~
Goellich ir NJ. 81. SSsvsge AIMS. ess. =
c;ras DA,.. i5. J.. * g + rr - ~
G II * 30. "A il g., N,e iF lof JOB
Gun S steel - -. q pr ssse -
MA'fHaA corp a =. sugar 10
in Ia ''''. Ax.1eu '.s d stand = Nj. ~ ~ ,e
In, ne lIsr Il p, ,5s ,sa s,ade' sa~r pr /. .21
In N T lsf 1r - x sup Steel ss's -
,o, do NJ, a g' % e5 r.a,s. 'e ~.
Int paper pr " lSs & = ID tr.s0 rs
90 pr stpd. - 7-i Iide"sfor Oh "a 22,
lfi Saf .... - lo lrHe r. >as "a
Iowa Contra u J.. FsI.& " lffs z f-
Jewel E-a = lB tn ir cf'. 2,
!ooes Tca Is 1874 lrafs "a y ss i
Aa5se- .. 50 So lNin CI.s X - -
KcFe&N p do pr Az .
"A o-'Y SO pr. 20 - Underwood T.if4 40
Kelly spr Tsiz IS do ~ iq- lI-
~ ~ ". q sa n Bag q + - -
Kelley Vince. 30 in CiFar - ls4 -
10 50 - DO Ir Jock ia3
heoh q D NJ ~ ted Dfgs -l1 Do.
- 10 pr 30 - ~ J.. ~ an -
iacede Gas ieia A. SCI a + l4la IS
I'@he u W u g 10 nr A. T. Z
I~ee KAD * + ia -H1z lrpre>s -
Lsg &" r itei- "A A pr - e5
90 " - loo r. q 20 Il
J." scnii-, - = Il IS. pr Jos lor
Do Is. pr 81 lol L Il Il 81. 3.
% n pr .losi4 40 do sr a.. g.
L'li"Ar1 az - Va Car ca ly.l55 u, +.
40 W ...- re lei Va d en- l8s
i<"lsv N-lel = Jos y Wabash ~ - "a
Maekay Cos 81 Wells FafRn -
10 pr ....- 5s'< 5si. wcss Pa pr q "a
Ma -. l57s Wcst'se a & lN8ts .oi
90 ir .--. . 81 wilson 60 pr
Mania Beach y y. MMiss q lr s-t. as
Men II sup - 50 MosiNorfH los ,.4i'
No 90 pr 100 10 pr .le3iz lH1
VA VA Rockwell 3s iWP 4 II ~ r
Mzf'H Party i4'- % so pr Is t. e.,
New-York tribune., 1920-10-17
ATLANTIC MUTUAL.
INSURANCE COMPANY
Atlantic Building,
% and ol Wall Street,
New York, October g. 1920.
speeial Natlce 70 nolders Of


DerUiEcate- Of Profits
me reIna'o 'oins outstanding certificates of
pfohts OF tIn i--ie Of i9is Will be redeemed
e'N plia .o t.' ho der- thereof or TO their
,,esel rep rseutat.ves oa aad after Monday,
Nog~moes J, v-V frole 'hich date all
iA'efes' thereon viii cesase. the certificates
!" oe Produced at the time Of payment and
4 dividend OF interest OF FIVE percent
being a; tne rate Of six per percent per
aeuuu ga the sald outstanding certificates
oi profits of tine Issue Of tho year iNlS, VIII
&c Iaii To the holders thereof or to their
weai representatives. on and after Monday,
No'emoer 1870 Checks for tho said
dividend u interest VIII not bo mailed in
accoFdAnce with mailing orders to those
VINO have f'ei such orders with the Com
wey hut Val bee delivered to the holders
81 'ue said certificates of profits upon
their surrender.
Inc transfer boobs. with respect to the
.ssge asg OF iel1 certificates, will be closed on
snd after October d. 1920.
~ order uf The hoard OF Trustees
u STANTON FLOYD JONES. Secretary
New-York tribune., 1920-10-17
AnSNer-If unn Ans;ro 70 ;,.-4

Answer-f you desire to invest YOUR
1uhds so that the speculative features
"lll De ellmlnated as far as possible,
you should purchase only seasoned
securities. The following prefrred
stocks are we'll secured in our opinion:
United States Steel per cent, Corn
Products Refining per cent, National
Lead Z per cent and Standard Oil 7
per cent. The purchase of stocks on
the lnstallment plan is good one. We
90 not attempt to pass upon the relia-
billty of brokerage houses. American
Sumatra preferred is entitled to fair
rating The other stocks are highly
speculative.
New-York tribune., 1920-10-17
Dividends
Initial

lHIllii
s,''eral ,"eneral Optical Co. Iuc--An initial
es -'.i o' $50 share hos been declared
e-. ',S n'" rawulftiFe participating pref
., stock. payable November TO
'e"loldefs of l.rarJ October. 20.
Extra
''at"adien fiauh Ell Commerce An extra
ir 'l 81 @-Hr' mas been N'c!tfeu
f Ii.r i' tAr REGULAR quarterly NiNi-
oi ootn payable 90 Stockholders
'Dtt November rs.
a, 's:iN''nan Kodak Co An extra dividend
~ l.f q. nt a. share has been declared
f.,~ .tlNn t0 lne regular quarterly diNi-
Vi - lrr cent both PAYABLE Janu-
m 70 Ntncf 70 lsrs OF record November
c, ana an extra divi1e nd OF T. per cent
ei cs t'e Irefnrrcd stock has also beer de
" extra dividend being payable
a. nel lH 10 stockholdeTs OF record
ssn,.".'1 9", aud sular dividend payable
gs,.i 10 stocAnoldcrs OF record No
s,'aiilette o'ilette safety Razor Co.-An extra
In lt or share has been declared
d,yifs fsrtl' l'-on 90 the regular quarterly
iler,sAa OK s. 30 a share. both payable
Oc,o,ou' 10 stockholders of record
Regular Declarations
PERT Pay Holder OF
Rfr>, Rate od. able. record.
,sse,ow Hartford
d eSsI.s' Co. $3.50 Nov ! oct. IS
csso,e ......... Sl50 q Nov. l oct Is
1c,au4ar Converters
9on,ral..1a l.1a ..-....-ls. ca q Nov 15 Oct. 50
e. c,'''"i Tramways
Pubic psS 4..,.,.... $50 Nov. Oct 20
ssss,'nsnt ~ ....Siso Nov oct, ~
do az a. S'ssr Co. II 3. g a Dec. Nov "a
'tasea ~ Drug CO.
M ...........l14g Dec. l Nov.
New-York tribune., 1920-10-17
Norwegian 8 Per Cent Bonds

Qucstion-Do YOU consider Columbia
Graphaphone per cent bonds good in
vestment? What is the dato of their ma
tuuty2 What do YOU think Of the new
issue Of Norw egian per cent bonds? -
E. j. c.
Answer-Columbia Graphaphone 8
per cent notes are due August |, 1925.
lhc earnings Of the company are ample
at present 10 care for interest charges
several times oven. The issue is
Sr5o0,Oo0. We regard them as. a very
fair Investment. The new Norwegian
bonds are entitled to a good rating
IN Our oplniOn
New-York tribune., 1920-10-17
Stock in New Axle Company

Question Would like t. know your opin-
ION Of the Parker ANle and l'roduyt IS COR
poration as 1n Investments j. II
Answer-The Parker Axle and Prod
ucts Corporation viii be prospect
until 1t is producing axles and market
ing them at profit to stockholders.
The axle is radically different from
most Of those now in use on automo-
biles and it remains to be seen what
tho demand FOR them win be-
New-York tribune., 1920-10-17
Union Pacific
Railroad

An uninterrupted dividend record
for the past -twenty-one years. aver
aging over per cent a year. is one
OF the achievements OF this great
transportation company Of the West.
II has also put back into its prop
erty. out of net income. during the
past twelve years approximately
$40, 900 900. which is equal 10 So
per cent on the par value OF its
outstanding common stock.
New-York tribune., 1920-10-17
Has $500, Likes Instalment Plan

luestion--As reader of your paper
would appreciate your suggestions on
some good preferred stocks as have
about $500 to invest and would like
to get the most ont Of it. Also what is
your opinion OF buying good stocks on the
- a reliable concern TO deal with? Are
ene 1! following stocks reliable: American
TulNatfa Tobacco PREFERRED American
HIDE and Leather preferred, Burn. Bros
Toal, United States Rubber, United States
IhdustTlal Alcohol and Lackawanna Steel
New-York tribune., 1920-10-17
American Car
& Foundry

This company is in an excellent po-
sition 10 profit from the anticipated
buying movement IN railway equip
ment lines In addition TO paying
substantial dividends the company
during the past four years has ac
cumulatsd a surplus Of more than
$4,000. 900. equal to over 81 per
cent on the par value OF lis out
standing common stock.
New-York tribune., 1920-10-17
Three Diuidend-Pa Companies
With Records
of Substantial Achievement

Unusual conditions prevailing in the money market dur
ling months have increased the
hghgrad securities with the result that many of them
especially worthy of attention Of
In the number of Market Review have dis
cussed the salient Of stocks possessing
soned requirements
New-York tribune., 1920-10-17
Answer Victory Az. per cent bonds

sold lately for $3.50 Consult any
reputable broker and he Will purchase
them for you on commission basis.
The annual commission is 80 cents for
$50 bonds; 10 cents for 500 bonds, and
81 for $500 bonds. Canadian govern
ment bonds are good investments. We
do not consider any bond as sound as
United States government bonds But
Carada's obligations are entitled 10 a
high rating.
New-York tribune., 1920-10-17
National Biscuit
Company

AS one OF the pioneers in the food
industry. National Biscuit has en-
jOyed able management as shown by
its excellent dividend record. ex-
tending over twenty-five years. In
New-York tribune., 1920-10-17
Novice Seeks Baby Bonds

Question Being q novice in buying
bonds would be grateful for a littlc in
formation in regard to purchasing Victory
Loan bonds. a. l consider this a trite
better proposition than the saving bank.
What ! would like to know is II these
bonds can be ought from brokers to-day
for less than their face value IN 800
denominations. ana approximately what
arc The brokers fees? DO YOU consider
Canadian government bonds as safe an
New-York tribune., 1920-10-17

~, N-itIt tiirN AND RECORDS
The Investors pockes Manua
s'2-rase Bool,le,. Issued Monthly
WI Na furnished FREE hy any investment
nav N.r POO ans investor ON alphca-
vh ff Nr current copy VIII h, sent hS
financial r0.s. 10 sraad ST. New York City.
New-York tribune., 1920-10-17

addition National Riscri, has &C.
ou'nura1 Leo ds''sis - ~, ne KS, t." yers.
earnings equal 10 81 : PER cent ot
the par value of its common shares
The demand for the company prof.
ucts appears 10 be such as 20 ASSURE
a continuance Of this prosperity.
Among the other stocks reviewed
in this issue are: international
Petroleum. Baldwin Locomotive.
Submarine Boat. Merritt Oil.
American Smelling & Refining
Company, SkeiIy Oil, Texas Com
pany.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-12-31
GOVERNOR MAKES
ANOTHER REMOVAL
a. .. Smith 81 Marianna ~ Removed
frorn state Read Departuent-~
Was Lmsa 81 Original Members.

TALLAHAesEE. Dcc. 90 -The g0v-
ornor this morning. made two changes
IN the personnel ~ tho state road dee
partment and that BODY. A. now oan-
Ntlfutwd ~ made mp entirely - new
mcmbeFH. TIE last maniher &c the
ola board was removed hhis morning
TIRE governor alieEed that "lmaamuch
~ ne state road department af tho
state ~ Florida has been in possession
Of several millions ~ doia.rs "a the
iaat year and a hair ana very uttia
has been aecumpli she'd in this way 20
road huiidlng Within ere state. and
inaKmuch - tho victory bridge With
"a = y. Smiths district a. mpmbes
~ the state read department. has been
under construction Cor year and a
half ana anly 4 few piers have heen
erected up g. date. 7 therefore -
suspend fha sald , ID smith from the
aMnfr. nem - the duties az said ofnce =
AR smith ~ Mariana IS one ~
thD original members ~ tho road a. y
ltartmunt and has repreHonttd fho
third congressional district 80 that
hoerd Immediately following the
suspension uf Mf smith thu governor
appointed n = Maund ~ TaiiAhanses
a. his successor
Tire other melnDer ~ the depart.
ment suspended ~ Governor cats
this morning IA NJ. Al Holt 81 White
Nprimww Nr Holt was commissioned
~ niembsr - the department On Oct.
as and succeeded r. g. Rerister Of
Jacksonville. y no resigned ar Holt
held oflcc about siN weeks. The or