davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-03-05
Heavy Covering
By Shorts Puts
Stock Prices Up
Leading Industrials Advance
From 2 to S Points; Rail-
road Shares Neglected;
Money Slightly Easier

An advance in stock prices yester-
day, which carried many Of the lead
ing industrial shares ahead anywhere
from 2 to points, was the natural re-
action of the market to an oversold
condition. The buying power came
mostly from the professional element
that has been aligned on the short side
Stocks went up easily. traders seeking
to cover their requirements finding. in
many cases q rather limited floating
supply. Dealings expanded to ap-
proximately a million shares, or about
double the turnover on the two pre-
ceding days.
The recovery in stocks coincided
with sensational developments in the
foreign exchange market, where ster-
ling exchange rose to $3.50, an advance
of more than Is cents from the close
of Wednesday,. The rise in sterling, it
|, was learned in banking circles, fore
shadowed probable heavy shipments of
gold to the United States from Eng
land. Such a development, bankers
said, would have far-reaching effect
upon the credit situation here, since
gold imports of the amount reported as
impending-the Street heard estimates
s25o,oo0, ,o00-would go a long ways
toward replacing the gold that has
been lost on the export movement.
The stock market was strong through
out the day, with the attention of the
speculative element centered upon the
industrial shares.
The rails suffered more or less from
neglect and did comparatively little.
closing irregular.
Buying for the short account was
quite active in the steels, the motors
and the oils. The last-named group
had shown signs of an increasing de-
mand on Wednesday and the upward
movement in prices begun then was
carried considerably further yester-
day. The thlnness of the market as a
whole was clearly demonstrated by the
fact that it required only a compara-
lively small volume of buying to push
many issues up 3 or points. General
Electric, for example, moved up more
than 6 points on transactions involv-
ing only 500 shares. Strength Of
United States Steel common was help
full to the rest of the list, that issue
steadily mounting until it touched
e7A in the afternoon, closing right
at the top for net gain of 274 points.
Slightly easier conditions were noted
in the money market, where call loans
renewed on basis of 8 per cent, COM
pared with 10 per cent on preceding
days this week. This made for i'm
proved sentiment early in the day and
started the shorts to covering, the
movement being accelerated later when
reports of impending gold imports from
England gained circulation.
New-York tribune., 1920-03-05
ROBINSON & Co.
Investment Securities
z6 Exchange Place New York
Members Ne.o York Stock Exchange.
Financial Items

George w Gale, formerly national bank
Ter of the Pacific Bank and has become
assqciated with the New Netherlands
BSnk as assistant to William f. Koelsch,
F.. W. Chapman & Co. have opened a
trading department dealing in Investment
bonds and unlisted securities under the
effiliated with Pynchon Co.
February sales of the American Whole
eale Corporation amounted to $3750Sis
an increase of ,s1.s4o.9ss over the oorre.
the two months ended February 90 to-
tailed ss.66s.443. an increase OF s3.o11. 1872
John n. Lee, formerly associated with
ated with Mckinley & Morris.
C; N. Woodward. general superintendent
OF lines OF the New York. New Haven &
been appointed assistant to the general
manager. r. d. Fitzmaurice succeeds Mr
woodward as superintendent.
At the annual meeting of the Standard
vi Company OF Indiana directors and
off1cers were reelected.
!. Az 'hur W. Sesselherg. Joseph A. Ma
honey and Cleveland Cobb have been
Siec Ssiecied to membership In the New York
- Harris Forbes q Co. and tho National
Tey ~ company are Offering $52S.000 Frank
bridge bonds. due 1921 to 1895, to Weld
$40 per cent and 100000 Lucas County.
1929 to 1880 to yield SO per cent: % both 9th
ISSUES exempt from Federal income taxes
J; T. Gwathmey has purchased the New
york Cotton Exchange membership Of r.
VV0 from the last previous sale
Funeral services were held yesterday at
Poughkeepsie for the late Edward w
s~i.. fswii..s' nnisso,s the asv Dr. smi,hers OF St.
efficiassng. Mr. Jswstt was % sraduate a1sses.s Of
aa s1siF u ss;sS e y.s.s sas N'v
New-York tribune., 1920-03-05
Baldwin Stockholders Meet

Compared with other years the an
nual gathering of stockholders of the
Baldwin Locomotive Works at Phila-
delphia yesterday was tame affair
Only about thirty stockholders put in
an appearance. John Luntz, who has
been a regular attendant for several
years, was present, introducing a num-
Der OF resolutions which he offered .
year. ago. but they were voted down
Mr. Luntz wanted some facts about the
sale of the Southwark Foundry & Ma
chine Company, BY whom it was bought
and what it netted Baldwin. Pres;.
dent Vauclain of the Baldwin said
the plant was sold to President Har-
MOI, mon of the Southwark Foundry for
the same price paid for it by the Bald
win plus 6 per cent interest for the
period il was held. 1t developed dur
ing the meeting that the Baldwin com
pany has received more orders since
January / than the total number of
locomotives built during 1918. Pro
1000 locomotives year. BALDWIN IN
shares, which bave acted we'll for sev. v.
era, days. moYsd up moro than 8 points
New-York tribune., 1920-03-05

oub-Ireasury-United States Federal
reserve credit balance, s65,SSe,s41.
oiiver--London, Sad; New York,
Sl'3l%; Mexican dollars, $1.ooN.
New-York tribune., 1920-03-05
Holders May Convert
Third Liberty Bonds
Reserve Bank Announces Per.
manent Bonds Will Be
Ready March Is

Ihe Federal Reserve Bank yesterday
announced that plans had been formu.
lated for the conversion of Temporary
AiDer1y bonds in permanent issues. with
al tne coupons attached. On March 15
holders OF more than $1,OOO,00O 900 in
tnlro Liberty bonds will start to ex
change bonds. The conversion NAV be
MADE either at the Federal Reserve
Bank or at the headquarters of the
Liberty Loan Association. or throurh
the individuals own bank.
lnasmuch as there were more than
S,ooo,oo0 original subscribers to tie
third loan in this district and large
quantity OF bonds issued in the Other
districts will undoubtedly be EXCHANGED
through the Federal Reserve Bank If
New York, the task will undoubtedly
ne large one," statement issued by
une , Reserve Bank yesterday said
Holders of $50 and S10O bonds NAV
make tnelr exchanges at the office of
Tne Liberty, Loan Association, 19 West
f,orty-fourth Street, New York, while
the great volume Of exchanges will he
greatly simplified for other bondhold-
crs' since they will be able to secure
the new bonds through their own bank
or trust company without going to the
Federal Reserve Bank. " ''''
1T Is expected that bonds Of the
first and second loans, both per cent
aho ~ per cent issues, will be ex
changed for permanent bonds after
April L.: In the cases where these
oonos WIZ nave coupons attached hold
eIs shoold detach the coupons and hold
mem until maturity, when they can be
easneu IN the usual manner. Holders
return q per cent bonds of the same
loan, with all coupons attached. unless
IN making the exchange they specif.
cally ask for 4 per cent bonds in 70
turn. 40
Holders of the temporary bonds who
avall themselves of the assistance Of
'enelr own banks in effecting the ex-
changes will present and surrender
.nelr present bonds to these institu-
htions, win coupons detached. The
s@nks VIII, In turn, make the neces
ssary exchanges of Az per cent bonds
TOT permanent bonds, and will receive
tie temporary per cent bonds for
conversion and exchange into the per-
msnent A per cent bonds. This SER
vlce Will be undertaken by the varjons
oanking institutions for their custom
ers without charge,
Inc first Liberty Loan 31a per cent
90 ponds and the Victory Liberty Loan
"a and "A per cent bonds were issued
py the government in permanent form
as as were the registered bonds of all the
government war loans, and therefore
Zone OF these bonds need be offered for
esSchange. The date for conversion of
the temporary bonds of the fourth I;h-
erty Loan, on which the last tcounon
wlli WI not mature until October Is, 1920.
hes not yet been announced. Bond,
holders offering temporary counon
oonds tor exchange may receive, if thew
oealre, permanent bonds in registered
New-York tribune., 1920-03-05
Steel Stock Subscription Plan

Although United States Steel COM
mon is now selling more than ten points
below 106. the price at which the cor
poration announced that employees
may subscribe to $4,000 shares under
this years stock subscription plan, it
was learned yesterday that indications
point to larger participation than
year ago, when 156.6S0 common shares
were offered at 90. There seems to be
a popular misconception concerning the
Steel Corporations proft-sharing
scheme. Under the plan when en-
ployees signify their in ,ntion of buy
ing the stock at the offered price it is
paid for on partial payment system
After all payments have been made
each employee is entitled to q bonus
Of $5 share for every year that he
holds his stock, up to five years, so for
the full period the bonus amounts to
S25 a share. This rebate, therefore,
would bring the net price Of the stock
subscribed for this year down to S81
a share If held for the five-year period.
New-York tribune., 1920-03-05
Mercantile Marine

For couple of days the Interna-
tional Mercantile Marine issues have
given an exhibition of real strength.
The preferred stock, for instance, yes
aerd serdday -. at II its high price Of the day:
Wednesday and 1875 above the low
price for the year. Much of the buy
ing this week has come from the short
interest, which has been of large pro
portions in the marines, but in addi-
tion it is stated that there has been
what the Street calls good" buying.
1t was reported not long ago that the
company was buying in its own pre-
ferred stock. Such an operation might
be worth while in view of the fact
That the company has AZ per cent in
back dividends to pay ON the senior
issue.
New-York tribune., 1920-03-05

Duncan ". Fraser. managing director
OF the Montreal Locomotive Works. It'd
mas been elected vice president In charge
Of sales Of the American Locomotiyye ye
company and the Montreal locomotive
reslgned to becorkA vice.president "nS aS
Merton 4 o.. Inoy Anksrx -
New-York tribune., 1920-03-05
The Market "Aristocrat"

Atlantic Refining common stock,
known as the "aristocrat" of the ex-
change trading list, moved up another
peg yesterday. Ten shares sold at
S1,365 a share, and thirty-nine shares
at $1.370, the latter an advance of 20
points.
New-York tribune., 1920-03-05
General Motors

Among the shorts who shifted trouble
were those in General Motors common.
The stock sold as high as 2471a and
closed AZ points up, at 245. The new
General Motors stock will be traded in
on the Stock Exchange to-day for the
first time. One of the things that aided
and abetted the bulls in Motors yes
tterday was the publication Of the E.
!. du PoDt de Nemours & Co. report
for 1919, showing the powder concern
had increased its holdings Of General
Motors common stock from 27.6 per
cent Of the total issue to 1928 per
cent. This investment, the report
showed, is represented by 23S,5o4
shares. The du Points also own 1915
shares of Chevrolet Motors. The latter
shares represent 209,952 shares Of Gen.
era! Motors common on the exchange
basis, so that the du Pont holdings in
General Motors really aggregate 49,
156 shares. Total cost of the invest
ment to the company was $48.758.252.
or an average cost share of $1O8.72.
At present market prices the value OF
the Investment is close to 100000, 900.
How the Street Feels
Opinions widely differed after the
close yesterday as to the probable
future course of prices. On the whole
the better feeling abroad on Wednes-
DAY spread in widening circle, but
at that the rank and file of stock
market followers were not enthusiastic
about bullish possibilities, since that
old fear of another money squeeze
remains in the background and is not
easily shaken off. The question brokers
were asking was: "How much further
can the recovery go before the Reserve
Bank authorities step in and hit it on
the head again 2" Most Wall Street
men are, of the belief that we Shall
see another money squeeze before the
tax payments are made on March. Is.
Arrival of large gold imports from
London, as reported to be impending,
might. Of course, completely change
the whole complexion Of the money
market, since it would mean a rehabili-
tation of depleted bank reserves. What
the Federal Reserve Board would say
about large gold imports abroad would
be interesting to know. Financial ex-
perts pointed out yesterday such
development might defeat many Of the
well laid plans Of the board to force
deflation and bring living costs down.
OF course, the stock market viewpoint
was that shipment here Of say $780,
100000 in gold from London would
cure lot of present ailments and give
speculation new lease of life.
New-York tribune., 1920-03-05
Chandler Motors

The directors Of the Chandler Mo-
tors Company are scheduled to meet
to-day in Cleveland and, according to
advance information received in the
financial district, they will increase the
cash dividend on the stock from So to
$40 year,
New-York tribune., 1920-03-05
Money and Credit

Call money twas slightly easier yes
terday and the rate ruled throughout
the day at per cent. compared with
10 per cent the preceding days of the
week. Bankers now believe that there
will be no serious money squeeze
around the 18th of the month, not onlv
because large part of the tax pay
ments due them will be met by Treas
ury tax certificates, but also because
many corporations and individuals are
already prepared to meet the drain on
their resources, through borrowings al
ready made. The time money market
was unchanged.
The ruling. rates for money yester
oay' compared with year ago, follow:
c.u Yeester- Year
On mixed collateral. :. 8 az
On industrial collateral 9
Ilme money (mixed collateraD:
SSl;xay S;nHyt,, days: ys:........... 9 5k@5A
N'hety uays. ........... 6h h005A
-Four months. .... 9 5bm5%
Four to six months. 9 5iIG5%
Bank Clearings-Bank clearings in
New York and other cities yesterday
were: '
Exchanges. Balances.
New York.. .$739, ,9O6,975 $72,093,365
baltimore ....15,247,900 7117.S27
Doston ..... 51,25o,719 14,182,79O
Detrolt ~, .,....... 16,S44,701 3,625,957
1pn;Ii4Iadelpnla 84,298,713 15,483,4O5
fltesourgh 2S,419,470 11,874,471
Sub-Treasury-United States Fed eral
reserve credit balance, s65,SS6,s41.
Siiver-London, 84d; New York.
sl'0l%; Mexican dollars, $1.ooA.
The Dollar in Foreign Exchange
The European exchange, led bv
spectacular rally in sterling, Yesterday
spurted further than on any day since
the smash in the market early last
month: The report that Great Britain
and France would ship gold to this
country in anticipation Of the Anglo
French maturity on October Is facili-
tated the rise, which was helped by an
accumulation Of buying orders which
were placed on the market.
Sterling rose as high as $3.50, and
closed at $3.5525. compared with s3.4475
on the previous day The dollar would
buy 1880 francs yesterday, compared
with 14.16 the previous day at the
close. Belgian francs and lire moved
up in sympathy.
Yesterdays rates, compared with
those of week ago, follow:
(Quoted dollars to tho nound>
New-York tribune., 1920-03-05
Bid and Asked

Allis- Chal pr. So So
Am Az Ch pr 0OM 90
Am Blk Note. 40 43
do pr ...... As so
Am Bt Sug pr 81 81
Am B S & h 30 1O01h
do pr .165 200
Am Cot 0 pr. S5
Am La Franco 12N 13
Am Linseed pr 90 95
Am Malt & G 3Oh 80
Am Shipbldg.. 1875
Am Snuff -. los ll2
Am Sugar pr Is lis IS
Am Sum T pr 81 S5
Am Tel & c.. 4S SO
Ann Arbor -. 15N l6H
DO pr ...-.. 26 80
A d q lst pr so 6Sh
do I'd pr. .. IS 70
Assoc Oil Ill ll6h
At Birm & At 8 8H
Auto 8 Cor pr 26t 2Sh
Barn Leath pr IS 95
Beth Steel -. 80 IS
do re pr. 97h 1O4h
Bklyn Edison. 94h 81
Bklyn U Gas. So So
Brown Shoo... 84N 95
do pr ...... 95M 81
Burns Bros pr.lO2 lO5
brunswick -. 6H TN
Buff II & p, ASH so
But' & SusQ. G994
do pr ...... 6IE
Bush Term :. -. 100
Can South 90. BIN so
Case ] 1 Pr. 9S 90
Cent Fdry %. IS 80
do pr ...... SO 56
Cent Leath pr.lO3 lO6
Cent OF N J.l65 2O5
9 & S A Tel. l09 ll4h
Cert Corp 49,. 80 81
do lst pr. S4N
Chic & Alton Z Sh
do pr ...... 12h l5h
Chic e. E Ill. g Z
DO pr ...... 7 8
G & N W pills 1l8
Glove & Pitts so
G $ p NJ & o go 66
do pr ...... 80 1o5
c G c 4 st L 44h 81
do pr ...... 63 69%
Cluett- Pea pr. 100 l0l
Col 4 s lst pr 50n 50
do I'd Pr. 40 4S
Comp Tab Rec 48 30
Con Cigar pr. 1914 so
Cont Can -. rs 81
do pr 100 los
Cont Insllr :. 73 75h
Corn Prod pr. 104H los
Crex Carpet. :. so SO
Cruc Steel pr. 86 81
Cuban Sug. .S25 400
do pr .102 no
Deere Co pr. 99N l03
Detr Edison. .l04 LOT
Detr Tn r r 100
Diam Match. lib 1875
D 8 s & A pr Z 10
Durh Hosiery. sc co
do pr :. SO l00la
Elk II Coal pr 81 ~
EN- Brandt :. 20 20
do pr ...... S21a SO
F. johnson pr. 1909 lOl
Erie & Pitts. So
Fed Min & S l2 l3
do pr ..e... 90 30A
Fisher Body. no l25
do pr 100 ITO
Gen Chem -. 1870
do pr ...-. 90 %
Gen Cigar =. o. 100
q 8 Sd LIST pr 97
Int Harv pr. ILL., 11lH
Int Mot Truck - 100
do I'd pr.... 80 63
Int Paper pr. rs 100
do pr stpd.. ~ IS
Int Nickel pr. SO Sc
lat Salt 49,. 67h 10
Iowa Central. s :
Jones Tea -. % 90
! Kayser 49,. .10j 1I5
KCFtS&M pr. SO 63
kel Spring pr a3 99ll
Kelsey VIII pr So 9S
keos & D NJ 4 z
do Or $500, 20 80
KrcSEe 8 8. .143 ls5
do pr 100 lO7
kress & Co. &c
do pr ..... 100
New-York tribune., 1920-03-05
Union Pacific

z:s:ss III s.; s:: IS: IL: s!;;;i
New-York tribune., 1920-03-05
French Internal Loan

Brown Bros. & Co. announce that
the official subscription price on March
. for the new French internal loan of
1920, based on the closing rate of ex-
change OF March 4, is $72.20 a 1000
franc bond.
New-York tribune., 1920-03-05
In Wall Street
Pennsylvsnis's Record


The Pennsylvania Railroad has =
pretty fair record, all things considered.
On April 13 next the road will be
seventy-four years old. That Is some
thing in itself. But what is more in
none Of those three score and four
teen years has its stockholders ever
had to forgo a dividend. -
Shorts Retreat
There is an old saying, oft-repeated
in Wall Street, that she who sells what
isn't his'n must buy it back or go to
prison." Stock market bears spent most
of the day buying 'em" back yesterday.
The biggest part of the demand for
stocks came from those professional
traders who have recently been work
ing overtime on the bear side. They
had been growing more and more un-
easy. since the beginning Of the week.
Efforts to knock prices down again had
proven more or less unsuccessful, and
on both Tuesday and Wednesday the
market looked and acted like an over
sold affair. Yesterday developments
outside of the stock market were con-
structive enough to start the shorts
covering. A slightly lower renewal
rate for call loans made the bears
nervous early in the session. Later
they showed signs Of increasing faint
heartedness when sterling exchange
made q sensational recovery, and the
Street heard circumstantial reports of
impending gold imports from England.
In banking circles there was talk of a
possible influx of $100,OO0,o00. Tie
Bank Of England has been rapidly add
ing to its gold store for many weeks.
Mansfield mirror. (Mansfield, Wright County, Mo.) 1908-1957, 1920-07-22

AS a general rule there is nothing
serious about a loss of appetite, and
II you skip n meal or only eat two
meals a day foc a few days you will
soon have a relish for your meals
when meal time comes. Bear in
'r;ad that at least five hours shous!.
always elapse gefore meals SO as to
give the food ample time to digest
and the stomach a period Of rest ge-
fore a second meal is taken. Then il
you eat no more than you ray and
take a reasonable amount OF out
door exercise every day you will
not need to worry about your appe
tite. When the, loss of appetite is
caused by constipation as is often the
case, that should be corrected al
once. A dose Of Chamberlain's
Tablets will do it.SAdv.
Mansfield mirror. (Mansfield, Wright County, Mo.) 1908-1957, 1920-07-22
THE EVILS OF GOSSIP

We heard a minister ,av tL a
sermon that, in his opinion. there
wee criminals in our state prisons
who were saints, compared with
many respectable" people outside.
who deliberately Islander others, or
peddle gossip about them. which
tends to injure their regulations;
or to hurt them in the opinion of
Their neighbors. A pretty strong
statement. but we have an idea it
IS perfectly true.
Much gossip is actually sinful.
and, taking as charitable a view as
possible. we must admit it is cow
ardly TO say unkind things about
a person behind his back, when he
has no chance to defend himself.
When the absent are spoken Of"
said Henry Ward Beecho., some
speak gold of them, some silver,
some iron. some lead: some always
speak dirt; for they have a natural
attraction toward what is evil. !
viii not say thai it is not Christ
ian to make beads of others faults,
rrd tell them over every day; l say
Il is Internal. If you want to
know how the devil feels you do
know it if you are such a. one"
1t is told of Peter the Great of
Russia, that when anyone spoke i'll
of IL person, he always asked:
is there not a fair side also to the
character of the person of whom
you are speaking. Tell me what
good qualities you have remarked
about him"
Some of the worst sins 3 COM
| mitted in the home, where little
children frequently get their first
lesson in gossip and scandal. The
neishbors' characters are hauled
| ever the Goals, their weaknesses and
shortcomings enlarged upon, in the
presence of innocent little minds
and thus the ball is started rolling,
1T were better for him that q
milestone were hanged about hi>
neck. and he east into the sea, thar
that he should offend one of these
little Ones"
What a paradise on earth if WI
all would form the habit of think
ing and saying only the good ant
pleasant things about everybody
Elk.
Mansfield mirror. (Mansfield, Wright County, Mo.) 1908-1957, 1920-07-22
SAGE AND SULPHUR
: DARkEMS GRAY HAIR
Grandmother's Recipe to
Restore Color, Gloss
y and Attractiveness.

Almost everyone knows that Sage
Tea and Sulphur, properly compound.
ed, brings back the natural color
Iustre to the hair when faded. streaked
or gray. Years 9 the only way TO
get this mixture vas to make It AT
home, which is mussy and trouble
Nowadays. by asking at any
drug store for "Wyeth's Sage n Sui
phur Compound" you will get a large
bottle of this famous old recipe. I'M
proved by the addition of other In
gradients, at q small cost.
Don't stay gray! Try It! No one
can possibly tell that you darkened
your hair, as It does It so naturally
and evenly. You dampen a sponge or
soft brush with 1t and draw this
through YOU hair, taking one small
strand at a time; by morning the gray
hair disappears, and after another ap-
plication or two, your hair becomes
beautifully dark. glossy and attractive.
wyeth's Sage and Sulphur Com
pound Is q delightful toilet requisite
Tor those who desire dark hair and a
youthful appearance. It 10 not In
tended for the cure. mitigation or pre-
vention Of disease.
Mansfield mirror. (Mansfield, Wright County, Mo.) 1908-1957, 1920-07-22
Executors Notice

Notice is hereby given that
letters testamentary upon the
estate of Elizabeth Eeets, de-
ceased, have been granted to the
undersigned, by the Probate
Court of Wright County, Mis-.
souri,, bearing date the Sth day
of July, 1920.
All persons having claims
against said estate are required
to exhibit them to me for allow
ance within six months from the
date of said letters or they may
be precluded from any benefit of
such estate; and if said claims
be not exhibited within one year
from the date of the granting of
letters on said estate they shall
be forever barred.
George B. Freeman, Executor.
State of Missouri, County of
Wright, SIS.
/ hereby certify that George
B. Freeman was granted letters
testamentary upon the estate of
Elizabeth Deets, deceased, on the
date above written.
In testimony whereof, l have
hereunto set my band and affixed
the seal of said Court, this 9Th
day of July, 1920.
(SeaD Geo. G. Murrell.
Judge of Probate Court.