davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-05-07
Replogle Steel Is Given
Clean Bill of Health
Brokers Explain That No Plan
to Trap Short Interest Had
Been Intended

investigation of recent transactions
IN Replogle Steel developed the fact
That there has been no manipulation IN
the issue, according to an announce
ment yesterday. Representatives &C
tour brokerage firms which have bean
the principal firms of the stock an
peared before the business conduct
committee of the Stock ExchAnge and
are understood to have explained that
the principals for whom they acted hsu
no intention of trapping short lit
terest.
In letter to E. " d. Cox, secretary
of the exchange, Allan A. Ryan, who's
name was connected with TRANSACTIONS
in Replogle Steel, denied that he had
anything to do with recent purchases
or sales. He continues:
"While l do not consider that you
have the right to require this informal
fact that my name has been publicly
inquiry, wish you and the public gen
orally to know that there is not tic
slightest basis or foundation for any
such connection.
I was not associated in any capacity
with the fiotation Of Reploglc Steel, had
nothing to do with the sale or purchase
of it's shares, either at that time or
subsequently. l have never bought rr
sold single share of its stock, either
for my personal account or that of my
firm, and have no interest whatsoever,
directly or indirectly, in the Replogle
Steel Company Or it's shares or in al:y
operation connected with the same
New-York tribune., 1920-05-07
Reserve Bank Sees
No Headway Gained
I'm War ON Prices
Business Conditions for First
4 Months of 1920 Said
to Emphasize Need to
Curb Unnecessary Loans

Reviewing general business cond-
tions for the first four months Of the
year, the local Federal Reserve Bank,
in statement issued yesterday, ar
rives at the conclusion that little
headway has been made toward a re-
duction Of either commodity prices or
credit voume.'
Referring to the necessity of i'm
proving conditions, the statement says:
"When we realize that in another few
weeks Southern harvests will begin
and in another four months we shall
be in the autumn period it Is
important that both bankers and bust
ness men should carefully study the
situation at once, calmly but frankly,
to see what can and should be done to
prepare for these demands and to eff
feet, meantime, not only prevention of
further credit and price Imitation, but
a measurable reduction of both"
Officials of the branch bank empha-
size the bankers responsibility toward
his client and the country in exercis-
ing "stricter control of credits" with
further gradual defation of loans as
tNe ODJeCLlVc III CHlS connection Varl-
GUS suggestions are made, including
the following:
Making new loans for purposes
which will not further production or
distribution of necessary goods creates
fresh demands on labor at time when
there is not enough labor to meet
pressing needs. Reduction of existing
loans for similar purposes tends to re-
duce demands on labor.
Loans for the purpose of speculat-
ing in commodities, securities and rea,
estate absorb credit required for nee
cssary production and tend to increase
the cost of living. Loans for the pur-
pose Of carrying stocks Of luXurics and
expensive grades of goods or stimulat-
ing their production merely increase
the temptation to extravagant living,
while loans to individuals to purchase
such articles seem wholly indefensible.
"Clearly the present is not an ap-
propriate time to extend business
merely for the sake of increased VOL
ume or profits. Nor is it time for
New-York tribune., 1920-05-07

situation. For that reason we believe
it would be most unwise to exchange
your Standard Oil preferred stock for
Rock Island preferred. The former
company is one whose earning power
is established. The preferred stock is
a good investment. To be sure the new
issue recently announced has caused a
small decline in tho outstanding pre-
ferred shares, but that Is due to the
somewhat depressed condition of the
investment market. On the other hand.
Rock Island has not shown up well ins
earning power under government opera
tion. While this is the rule rather than
tho exception, it shows that the road is
dependent upon higher rates and fair
property valuation in order to main.
tain itself. We believe Rock Island wilf
maintain itself, but why speculate when
you already have sound investment
The two issues of Rock Island pre-
ferred rank equally, the 7 per cent
issue being entitled to per cent more
per annum. The 5iz per cent return
does not relate to dividends on stocks
The commission is supposed to make,
rates which will, in it's opinion, be equal
to 51a per cent on the property invest :;
ment. If road has 7 per cent pre-.
ferred stock outstanding, or indeed IL
it has 10 per cent preferred stock out
standing, the dividends would have to
be paid upon it before the common re-.
ceived anything.
New-York tribune., 1920-05-07
Plunges on Big Ledge

Question--some twelve months ago I
To- aH bur uys1d H,p ny ad curb broker In New York
cents share. Before doing no | wrote
70 five other curb brokers asking about
It's n' psrobsss srofh and 90 each % one strongly urged
until Il is now as cents bid. rf This con- com :.
nanv panr N,.y lI supposed to have property at or
nrt, m,nt, WI you tell me IL there is any
hcrit ne to this property and. II so. what OF
imr ns dara dInmhaIgcment? 1t looks to me like the
insln gers nave been feeding out the stock
az ~ u could be sold. As have put all
me tn IN money .ny | had in the stock. am anxious
10 get the true facts concerning the prop
erty and the management Of the com
pany.--J. B. J.
Answer-So far as we are able to
determine Big Ledge Copper is more
or less of a prospect. No statements
of operation appear to be Forthcoming.
thus stockholders are kept very much
in the dark. So many people purchase
stocks because they are low in price,
largely on the theory that "cheapness
recommends them" Almost all copper
shares have been depressed, and there
seems little reason to expect a rise in
a security such as Big Ledge when
stocks like Anaconda, Inspiration and
Utah Copper sell at low figures. Moth
ing is sure in this world except death
and taxes, and therefore no one should
speculate who cannot afford to lose,
We cannot advise you what to do. If
you hold the stock you will still be
specializing. If you sell it now and it
goes up you will regret it, perhaps.
We regret that we have nothing of a
constructive nature to tell you.
New-York tribune., 1920-05-07
Financial Items

The International Vegetable Oil Com
pany has appointed the Columbia Trust
Company transfer agent of its new issue
os sio00,oo0 preferred stock.
Bank has been appointed transfer agent
for the capital stock of the Westfeld
Manufacturing Company.
j. E. Reynolds, vice president of the
First National Bank Of New York and
p S. Howland, vice e-presdent and treasurer
road Company, have been elected direc
tors of the Chicago. Burlington & Quincy.
Increasing the boards membership from
eleven to thirteen. At the organization
rcctors were reelected.
j. NJ. Lummis has become associated
with the trading department of John
Muir g. Co, members OF the New York
Stock Exchange.
Lawrence, Chamberlain & Co, Inc. an1
and will shortly offer issue OF So,
500. 600 per cent cumulative preferred
stock Of the Great Eastern Paper Com
pany, Ltd.
The New York Stock Exchange has
admitted to its trading list the V. Vivau-
dou, Inc, capital stock. without nominal
par value.
The Equitable Trust Company has been
appointed transfer agent and the Guaranty
Trust Company registrar of the stock OF
the Brooks Steamship Corporation.
d. G. Wing, president of the First Ma
a director Of the American international
Corporation. succeeding the late r. n.
Vail and Newcomh Carlton was elected
n member of the executive committee.
succeeding Mr. Vail. Officers were
elected.
Alfred Borden member of the Arm OF
Proctor * Borden, has become associated
,-,- 'hs8 \. Read & Co.
New-York tribune., 1920-05-07
Buys Three Stocks; Picks Two Losers

Question: have been buying the fol-
method: Five shares shell Transport and
solidated Copper at s?2; fifteen shares An
glo-American Oil, at $34. With the excep
ton of Shell Transport and Trading my
count stands ME considerable loss In your
opinion. do the above stocks represent IA
fair investment of my money? OrsYould It
be wiser to change this for SAFER ones
Kindly advise how the recent announce :
ment regarding stock dividend on She'll
Transport and Trading will affect the
shares l holds. c. W.
Answer-We do not regard the stocks
you hold as investment issues. Oil
and copper shares are about as specu-
lative as any one could find. If you
would have funds permanently in
vested we believe you would do better
to purchase well-secured bonds or sea-
soned preferred stocks. The recent an
nouncement regarding an increase in
the stock of Shell Transport and Trad
ing Company was unofficial, although it
is expected that this increase will take
place in July. In all probability the
present price of the stock has largely
discounted stock dividend
New-York tribune., 1920-05-07
Ann. Steel Foundries
Declare Stock Dividend

Directors of the American Steel
Foundries Company have declared a
stock dividend of So share. or the
equivalent of per cent, on the COM
mon stock, payable in stock so far as
dividend amounts and remainders per-
NIT of full share payments. Dividend
amounts and remainders represented
by fractional shares will be paid in
cash at price equal to such fractions
multiplied by the closing sales price
OF the stock on May Is. The dividend
is payable May 20 to shareholders of
record May Is.
For the quarter ended March 81,
1920, the company returned surplus
after charges and Federal taxes of
81 5,295, equivalent, after preferred
dividends at the rate of per cent per
annum, to $2.44 a share earned on the
Sl7,lo4, 900 common stock, against
81 294,131, or $7.53 a share, earned on
the $l71S4,O0O capital stock in the
corresponding quarter Of 1919.
New-York tribune., 1920-05-07
Interested in Rock Island

Question: I own forty shares OF Standard
OIL of New Jersey preferred per cent
stock. for which l paid 110H. and which
therefore, nets me over per cent.
notice that Chicago. Rock Island & Pa
cific per cent preferred is now selling
at approximately s71. at which rate it
would net about 10 per cent. Is the con-
dition of the Chicago, Rock Island &: Pa
cific Railroad such to Justify my SELL
ing the Standard Oil stock and purchasing
sixty shares Of the Chicago. Rock Island
& Pacific 7 per cent preferred? l, of
course, realize that the present price of the
latter stock would indicate weakness in
the cOmpany's financial condition, though
to what etent l do not know. Does the
Chicago, Rock Island & Pacific per cent
preferred rank ahead of the per cent is
sue in preference as to earnings? What
effect will the 5la per cent limit imposed
on railroad earnings by the recent law en-
acted by Congress have on the payment Of
the dividend on the Z per cent issue p
w. D. S.
Answer-There is still considerable
uncertainty surrounding the railroad
New-York tribune., 1920-05-07
Feels Safe, but Not Satisfied

Question: have fifteen shares New
Haven Water Company common stock,
bought at S88 share. l know ii to be
absolutely safe. but in few years I would
like to put what I have into house.
Above stock Is now selling for $3.50 a
share | noticed in your paper General
Motors per cent debentures are selling
as low as s7I,25. Would you advise SELL
ing New Haven Water and buying General
Motor debentures? California Packing, at
rs, and Westinghouse Electric Manufac-
turing. at SO, have heard spoken of very
highly. Would you be kind enough TO
suggest anything else that looks as good
or better Q am willing to take a. reason
able chance) Mrs. K. f. d.
Answer-If you know that you have a
good investment don't spoil it by pur-
chasing some security Of which you
know nothing. New Haven Water Com
pany is sound concern, having paid
dividends for many years. Our advice
is ''to leave we'll enough alone"
New-York tribune., 1920-05-07
rere Marquette Earns
Sl.59 a Share i'm 1919

Inc Pere Marquette Railway Com
NV I returned surplus after charges
\, b.s,'''e'9S1 for the year ended Decem-
ds.,a, Sl, 1919, equivalent, after the de-
sSs,aa Sua ol preferred dividends. to 80
man saa'e earned on the $45 ,046 900 com
,lSs. $40 1ss,oek, which compares with
ssl'',as4 snl st or Sl.5S share in 1918. Fed
nI,osava,o osava,opensation for the use of the
passS Saa a.. aggregated S3,74S,196, com
pnss t W WIN net income of $4,866,6 ,615, a
t gotsT1 T' sllls,4l9 for the government.
snsna. .al operating revenue last year
mora a'sso .s to S35,443,136 or S6.48S,1
os.,.,i'lhan .s than in the preceding Year.
asduc..a,aag expenses Of $26,81S,72s were
iattosSe leaving net revenue of So
'lSs27s. . other s,l 80 income aggregated
tssslsa; t,s; .IsS Taxes paid during the year
ssd intossao1 s.o1'ZS3 and charges, rentals
ASssS',eSF ssuS'eFest st sS,124,7S6, after which a.
nd lss0 loss balance remained for profit
New-York tribune., 1920-05-07
Bankers to Discuss
Needs of Railroads

"A group of leading railroad bankers
from New York will to-day appear be-
fore the Senate Interstate Commerce
Commission at Washington at the invI-
tation of Senator Cummins to give
their views as to the equipment needs
of the. railroads, especially in relation
to the use of the $500, 1000 900 revolv-
ing fund which was created under the
Esch- -Cummns bill.
The following were invited to at
tend: George Whitney, of j. p. Nor
gan e. Co.; Jerome J. Hanauer. 6f
Kuhn, Loeb & Co.; Joe Swami, of the
Guaranty Trust Company; Charles o..
Mitchell, of the National City Com
pany; Everett Sweezy, of the First Ma
tional Bank, and Frederick w. Allen.
Of Lee, Higginson & Co.
New-York tribune., 1920-05-07
ensock nsock Offered EmnIoyees

,sses S'.i1o, May "a SO per cent
par aeho, vaio, OF $4,000 shares with
,ashor;,saaai saiae OF $6,400,0o0, has been
aNeil oy the directors of Libby,
tasd n.oa Libby, manufacturers Of
4ssust ut'qacts. ~ Payment is to be made
!sse s "a to stockholders OF record
~ yaIna ysadIoation, $4,000 shares. with a
We II ae % oi $40, are authorized for
y rr.nn,pioyees, who will be given
tA,006 hunity to purchase u total Of
At nraa snares on deferred pavraents.
sand p.esent the comoanv has out
NTH s @ STOCK totaling ! .280 900 shares,
|as srapf par value Of $12,800,00o. Tho
b mad daheing, the directors announce.
kss:. e necessary by increased busi
New-York tribune., 1920-05-07
Decides to Change Investment

Question: have ten shares of preferred
stock of the American Locomotive Com
pany. intend to SELL 1t and buy ten
shares of Standard OH of New Jersey pre-
ferred. DO you think the Standard Oil
will be safer investment in years to
come than the American Locomotive Com
pany Mrs. NJ. b.
Answer-The earnings Of Standard
OH of New Jersey have been better
than those of the American Locomotive
Company over a period Of years. The
former company's business is more di-
versified. For that reason we believe
it's preferred stock is entitled to a
somewhat higher rating than that Of
American Locomotive
New-York tribune., 1920-05-07
Ford Motors of Canada

Question: have 5000 to invest and am
thinking about putting II into Ford Motors
or Canada What do you think about this
investment "a NJ.
AnswerThe Ford Motor Car Com
pany of Canada has been highly pros
porous since organizations It's profits
have been enormous. Large dividends
both in stock and cash have been de-
clared from time to time. Securities of
New-York tribune., 1920-05-07
Investment
Information

Questions Of general intsrsst to
emvestors tDiN be ans,Dered in this
column, in ,vhsch case only initiass
WsH De used. Others 4oin be an
sWered by mail. Address all tm-
qutrtes, dnclosing stamped, ed-
dressed enpeIope, to Financial Editor.
The Tribune. I54 Nassau Street. New
York City.
New-York tribune., 1920-05-07

public or private improvements not
absolutely necessary for health and
en1ciency.
with shortage Of goods and labor
the necessity of conserving both is as
great as it was during the war, and
requires an even higher degree of self
Eestraint on the part Of bankers, pro-
ducers, distributors and consumers,
SINCE governmental controls no longer
New-York tribune., 1920-05-07
Big Cotton Mill Dividends

GREENVILLE. S. c., May 6. - Di-
rectors Of the Woodsde Cotton Mills
Company, of Greenvlle,, and Of the
Riverside Manufacturing Company, of
Anderson, to- day voted to declare stock
dividends of 100 per cent.
New-York tribune., 1920-05-07

this character naturally are very at
tractive on account Of their high re-
turn, but we do not believe they should
be considered for permanent invest
mIent, because dividends are not stable.
but subject to change in accordance
with earning power.
New-York tribune., 1920-05-07

offer exceptionally safe investment opportunities
security of the highest type and combined great
earning assured by operation under strong corporations
of nationwide reputation We have purchased these bonds
after careful investigation and offer them with full
rnendation.
New-York tribune., 1920-05-07
TEN MILLION DOLLARS

11RST mortgage investments of the described below
formerly were available only to large insurance
panies, banks and estates Today through the division
Of these mortgages into First Mortgage bonds they are
available to the public generally surrounded by all the
guards of the Straus Plan which has investors
New-York tribune., 1920-05-07
Foreign Govt. and Municipal Bonds
Unterest To BE Added)

Bid Asked
Arsentne slM Intern 'ss" ss' 1s4s 81 !'.o SS% siE
Canada, Dom Of, Notes. 1921. 96 81
Canada, Dom Of 5s l921 97L& 971a
Canada. Dom OF. 1926. S6la S0ia
Canada, Dom OF, 1929. S97s 90s
Canada, Dom of, 1881. .......... SSA S97s
Chinese GVt, Hu kug Ry 5s, 81 43M 43 "a
Cuba Extern 5s. l9Ai.......... 90ie 91%
Cuba Extern 5s. Series a, l949 SIS S2%
Cuba Extern 412s, 1949. 9..,.... 7SI. 1874
Dominican Rep 5s. 1853. BS1a So
City Of Lyons Is yr 6s 1884. 87A 87&
City or Marselles Is yr IS, 1884 S7A S794 !
city Of Bordeaux t5 yr IS. 1884 S7A SIN
c OF Copenh'n n 25 VI 5las, 1914. 75ts 1885 !
French, Paris City, 6s, 1921. S9& S9ia
jap Gvt AVS String in, 1926. 75la 76A |
Jap GNt i2s I'd series. 1926. 74% 75A |
Jap Govt 4s String In, l931.... 6sia SO
Jap, Tokyo City. IS, 1852. 80 81
U X CT Br & Ir 5 yr 51as 1921 947s 90
L X Cit Br e Ir 3 yr 5hs 1892 1914 9S& |
I X CT Br & 1r 10 VI 5 Us 1929 81 9lA |
L X CT Br & II 20 yr las, 1887 S5% Sc
Mex Extern strl 5s, OF 80. 1916. 31ia 33
Mex Extern gold Is of o. 1854 26la so
New-York tribune., 1920-05-07
$5,000,000 NEW ISSUE
The Drake Hotel
Chicago
First Mortgage SO Serial Coupon Bonds

(Safeguarded under the Straus PLAN
49n Federal Income Tax Paid
hotel under the management an
the wel-known Blackstone
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-05-30
make NO DISTINCTION IN
RANK OF MEN WHO DIED
Markers at Graves in Government
Fields OF Honor in France
Uniform In Character.


WASHINGTON. May 2s.LUnder an
agreement reached with the French
government. tho return OF the Ameri-
can soldier dead from the military
zone in Franco, Will begin after Sep
tcmber Is.
Ralph Hayes. assistant TO Score
tary Baker. recently returned from
mission to France to complete
arrangements. has reported that
French objections finally were waived
In Aprr. removals to be limited to
those bodies, for the return Of which
relatives mad specifically asked.
Mr.. Hayes reahirms the policy OF
the War Department to defer to
wishes Of relatives completely. Re
turns from inquiries sent out show
that SO per cent of those who re-
piled asked that the bodies be
brought home. Those which remain
In France will be "httingly and ten
DERBY cared for by the government
In Fields of Honor purchased for that
purpose. Tho report deals at length
with arrangements for acquisition,
location and preparation Of these.
hi the e,d report . refers to charges tina,
return OF the soldier dead was the
propaganda OF the undertakers and
collin makers" and the further
charges that actlvating the move
ment TO keep the bodies abroad was
the hope OF the French to mako
their presence a source OF constant
and substantial financial revenue"
Specific and sufficient data" says
tho report has not yet been adj
duccd to indicate that either fear Is
borne out in fact" II adds that
while some undqrtakers conducted
movement for the return of tho
bodies they were repudiated by tho
recognized association OF reputa BILE
funeral directors" and that "it is not
true that there exists now In France
any generally prevalent effort TO
capitalize financially. American
burial places"
Mr.. Hayes recommended that the
permanent Fields of Honor be To-
Gated at RomaSne. Bclleau and
Surcsncs in France. the dead to sleep
there without 'segrcgation into dis
tinctive locations on the basis OF
rank" Head stones and markers
should be uniform and erected by tho
government OF advice of a War Me
MORALS Council to be composed of
representatives. OF all Interested
veteran and other organizations AR
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-05-30
White Goods!
DOnnestics!

A good quality bleached cotton, SO
inches wide; special at zoe yard.
Androscoggin, yard wide, bleached
cotton. soc a yard.
~Yard wide Pajama checks, perfect
quality, at &C yard less than whole
sale price, 29c yard.
English Longcloth, Chamois fin
ish, SO inches wide: 10-yard bolt, for
$2.95.
Blue Bird null or nainsook in a
very fine and soft finish, suitable for
children's wear and undertakings; 39c
a yard.
Miller G. Rhoads' No. 100 Long
cloth; 10-yard bolts, special, $3.9s.
40-ilfch fine quality unbleached
cotton, in short lengths; special
value, zoe yard.
Miller e. Rhoads' excellent pillow
cases, 42x36 inches. These are made
by us, and sold as an unusual special
at 35c each.
S1X90 Salem Sheets-one of the
worlds standard brands, and noted
for long wear and service. The
price is below regular, $2.40 each.
76x90 Seamless unbleached sheets.
Plenty large for double beds, 3-inch
hem on one end and 1-inch on
other. This is one of the sensa-
tlonal values Of the year, $3.50 each.
Basement, West.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-05-30
Pretty Colored
COttOnS

Rich Dark Voiles-4O inches
wide. These are shown in the sea-
sons very newest patterns and coll
orings, and usually sell at much
higher prices, SOC yard.
Beautiful quality 4Q-inch voiles in
light and dark colors, and in a large
range of new designs, soc yard.
A pretty assortment of light and
dark yoiles, 40 inches wide, soc a
yard.
Printed voiles and faxons. About
100 pieces to close out at 29c a yard
Silk and cotton crepe de chine.
Just few colors to close out at SOC
yard.
36-inch Panama Suiting in all the
popular colors; also white. The
mill price on this desirable cloth is
doc yard. Our price to you, SOC a
yard. !.
32-inch Dress Ginghams. Our
price all season has been SOC a yard.
This lot to close out at SOC yard.
Serpentine crepe, in the very new
est patterns for spring and summer,
suitable for kimonos, lingerie and
dresses, 47c yard.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-05-30

engagements should be made similarly.
he reported. for erection OF hostess
houses to accommodate relatives Of
the dead who visit the plots.
Describing his visit TO all the points
where American dead now lilo in
France. Mr.. Hayes said he saw many
touching evidences of the care In
dividual French citizens and small
communities were bcstowing on tho
graves.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-05-30
VudOr
Porch Shades

best Tor Summer Homes.
Vudor Porch Shades are
the only Shades made with
a Ventilator.
The Vudor people own all
the patents with the new
Vudor Self-Hanging De-
vice.
Licensed under Basic
Patents.
One person can hang a
shade in only four minutes.
No measurements, boring
tool, screws. nor screw
driver required.
Shade taken down for
winter in one minute.
Sizes and Prices OF VudOr
Porch Shades
4 1t. wide X { #. 6 in.
drop, $3.i0.
S fit. wide X Z #. 6 in.
drop, $500.
g TT. wide X Z #. 6 in.
drop, $500.
s TT. wide Y Z #. 6 in.
drop, $500.
8 #. wide X Z #. 6 in.
drop, $1,000.
10 TT. wide X Z #. & in.
drop, $11.00.
II TT. wide X Z TT. 6 in.
drop, $3.50. :
Floor Three, West.