davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-11-23
Selling Agents Who Book
BUSINESS at Prices To
De Determined Later
Encouraged by Progress

Dry goods selling agents who have
shifted to r "memorandumv basis of
booking future orders reported con-
siderable amount of business yester-
cay IN many cases of greater volume
thah on any day last week The ad-
nerenIs or TINS policy. which merely
Sohslsts OF writing down a memoran
uum OF an order to be confirmed later,
and the price to be determined at the
time Of delivery, believe that it will
bring order out Of tangled web of CON
dltions now prevailing in trade and will
he the means of getting the wheels
OF the mills started up again more
nearly on normal basis.
The memorandum basis Of trading is
recognized as a stop gap" policy on
the part Of both buyers and sellers,
Despite the many low-priced lines now
IN the market, buyers assert that little
IN the way of spring buying can be
done on them, as most of the prices
hold good only until the end Of the
year. when the mills make definite
prices for spring We will be ready to
buy" is an expression frequently heard
among buyers.
With obstacles in the way of spring
business, some houses are concentrat-
ing their efforts on selling goods al
ready in hand. Some sellers assert
that the low prices have had but little
effect in stimulating business, while
others assert that when prices are put
down to a bedrock basis customers
can be found The efforts of jobbers
to rid themselves of surplus stocks
through special cut price sales week
or so ago are reported to have been
cnly partly successful. One jobber,
whose views were expressed in the
market yesterday, was frank enough to
admit that the volume of merchandise
purchased in his house was below eX
pectations and scarcely exceeded the
volume that might be normally ex-
pected at this time Of the year.
New-York tribune., 1920-11-23
sale Of Hides Fails to Aid
Leather Market. Trade Saws

The recent sale of packer hides has
not as yet welded any influence over
the leather situation. Less optimistic
trade mon are inclined TO believe that
the condition of the trade is worse than
it vas d week or so ago.
Their opinions ere strengthened more
or less by the report that several tan
nerles in Wilmington, Del, are report
ed to have closed Other tanneries are
normal force of 10000 working, their
wages having been cut from 25 per
cent to 33 10 per cent.
New developments in the hide market
are reported with the sale of approx
mately 900 bulls at IS cents. They
are kills for August. September and
October of next year.
New-York tribune., 1920-11-23
Financial Items

F. w. Wilson, vice -president Of the
Anglo and London Paris National Bank
OF san Francisco, ana who has been
designated as head OF the Bank In Manila
VIII succeed Senior Nenancio Conception.
president of tho Philippine National Bank,
who has resigned on account Of the un-
satisfactory condition Of his health
Andrew Fletcher, president Of the
American Locomotive Company has been
elected member of the board Of trustees
of the American Surety Company.
The Central Union Trust Company of
the Grand Trunk Railway Company Of
Canada s25,ooo,0oo face amount. twenty
year per cent sinking fund gold de-
hcnture bonds dated october /. and due
October l. 1910
The F4fth-Third National Bank and
Wei. Roth & Co, OF Cincinnati, and Pot
Of New York. arc Offering 81 000. 900 Gin
cinnau. Ohio, per cent bonds, duo July
j., 1868, at a price to yield 40 per cent
issued to provide funds for the erection
OF railroad bridge across the Ohio River
70 be used by tho Cincinnati Southern
Railroad
New York. announce that Stewart Had
dock Is now associated with their New
York Office. which transacts tho nrn's
Eastern business IN both the purchase and
sale OF government. municipal railroad
pubic utility and Industrial corporation
DNiU9 o"o 'hHeStiiieut preferred STOCKS.
Comparative sales of the Fisher BODY
Corporation for the first quarter ended
July 81 totaled s22. 627 900 compared WITH
ss'sso 900 for the corresponding quarter
Of the preceding year During the second
quarter they amounted to S23632 600
compared with 1881 900 for the same
quarter year ago.
Julian Dick, OF si Broadway. has an
piled FOR membership in the New York
Cotton Exchange.
A cable dispatch from the head office
~ the Bank of British West Africa, Ltd
in London to the Now York agency yes
terday announced the authorization OF the
usual half yearly dividend Of per cent
Sir Henry Darlington Smith. c. b. T..
director OF the Bank OF British West
Africa. Ltd, has been appointed a director
of the Bank OF England
At recent meeting OF the board Of d.
rectors OF Asia Baking Corporation, Fred
J. Kent vice president Bankers Trust
Company. was elected director and
member OF the executive committee Of
Asia Banking Corporation. to succeed John
F. Schmidt. resigned.
J. p, Sugarman 6 Co., members OF the
Consolidated Stock Exchange. have re
rnoved their Offices to the new Sugarrnan
building at 9 Beaver Street.
New-York tribune., 1920-11-23
Would Average on FL Salvador

ouestlon-.wiN you kindly advise regard
ing the following: Some time ago l pur-
chased purely gamble block OF III
Salvador silver at ~. since which time 1t
has gradually declined. until II Is now
around 8 or S.. From the infoFmation
had at the time OF my purchase nave no
desire TO dispose OF this stock and ! am
buying further.-F 4. /.
Answer-The FL Salvador Silver
Mines Company operates in the Cen
tral American republic OF the same
name, where it has extensive proper
ties. We have no late information
about the progress Of the company
You say yourself that the shares are
gamble, and you must realize that The
Tribune cannot attempt to advise
readers about matters which are ad-
mittedly so uncertain. We will say
this much. Don't buy the shares to
average down unless you are convinced
they are a good buy at the new price.
The fact that you hold some Of the
stock at higher level is not going to
affect the course Of the price.
New-York tribune., 1920-11-23
Buyers Arrived
Fairchild Service

Mss HqNe; art g9od.s. $50 7it5h ~, Ayeq9s ), ~
AsNLAND, ky.-McCiintock, Field & Co. :
sir. kantzhols. piece goods; 72 Leonard
ATcHIsON. Kans j. wallensteln, dry
goods. notions; Pennsyivania
ATLANTA--B. II. Levy g. Bro; s. Levy.
mems and boys furnishings, 1850
ATLANTA-David wilson, Paxon 6 Stokes Co. Z:
/. V. Wellborn. ladies' ready TO wear;
AJLANTA~J. 4. High < Co.: J. d. Bel
iah- coats; W. e. Hopkins, bags jewelry;
toilet goods, art goods; Alfred Fanih
l1e West Thirty second Street.
ATLANTA--Frohsn's; j. Frohsin. ladies'
ready TO wear; sos Fifth Avenue. room
BAIT TtllORE-American Wholesale Corp !:
G. y. schort. notions; II. g. Frazier,
muslin underwear; s54 Fourth Avenue.
BALTIMORE - American Wholesale Cor
poration; A. Dieterle. cotton piece gods.
blankets are needle work; 354 Fourth
Avenue.
BA.LTiMoRE-L. Freudenthal Carl Freu-
denthal, tailors' trimmings; McAlpin
B-ALrlioRE-rh Maryland CO. H. Vein
berg. cotton piece goods Grand.
BALTtMORE - VIM Kraeger. tailoring
goods Pennsylvania
BIRMINGHAM-liold Bros J. Cold
stein. waists millinery. Pennsylvania.
Jordan Marsh Co. {. !. Brady
floor coverings: +. II. Bell, upholstery.
lacs curtains and porueres: Eugene DAILY.
inexpensive dresses aprons and toilet
goods r. 4 Fuller. furs. :. K. EmerM
cotton and French underwear and pettiH
coats w. \. london, leather goods;
-'iiss 4. l.. Luerin. toys +. {. kemball.
Woinens costumes: MISC McCauley.
*otnens extra size apparel. ". r.
NaTnum. boys clothing and wash cloth
4"s NJ Rob.ilard. boys clothing. base
l!tNt. 452 Fourth Avenue.
SOSTON-R. II. White Co; J. T. Ciexton.
s.oVes and hosiery; A. II. shannon, silks
+, = @n4 = d. dress goods: AZ Fourth Avenue.
KY IN" iiliam Filsne's sons Co: Miss
hii special lot sweaters. special price;
MSS Fitzgerald. petticoats; Miss Gil
man, Juniors' skirts. basement. Miss
Berk childrens millinery. MI Day.
waists Miss Lynch. petticoats; Miss y.
ta.lahanax. Infants wear; 225 Fifth
BGsTQN-sylvia & Coppinger: r l..
,, sy5via dry goods; "a Leonard street
4sION-Gilchrist Co; Miss Wall, tn
fants wear basement: A. Cohen. coats
suits and dresses: 200 Filth Avenue
BOSTON f T. S!attery 60. Miss Mur-
New-York tribune., 1920-11-23
ID. & II. C.. Purchasers
To Name New Officers
Another Name Will Be Given
Road at First Meeting
Here Tomorrow

DENVER, Nov. 22.-The first formal
meeting of the Denver & Rio Grande
Western Railroad Company, the hold
ing company for the Denver & Rio
Grande Railroad, will be held in New
York at noon, Wednesday, at the Offices
Of Alvin W" Krech, chairman of the
board Of directors of the Western
Pacific Railroad Company, it was an
ncunced here to-day.
The Denver & Rio Grande Railroad
property was sold here last Saturday
to three men representing the Western
Pacific Railroad corporation.
At the New York meeting, it was an
nounced, new officers for the Denver
e. Rio Grande road will be named and
a new title for the road will be Sc
lected. Under the law, according to
railroad attorneys, the name Denver
& Rio Grande Railroad" cannot be used
by the purchasers of the property.
New-York tribune., 1920-11-23
Business News
Increased Orders Reported
On Memorandum Sales Basis
Buying for Spring
NosU Gains FduOr

Endorsement of the announced
policies of the May Company and
Glmbel Brothers, to buy mer-
chandise now for spring require
ments and thus start up the lag
ging wheels in factories, has been
given by Victor Sincere, of the
Bailey Company, Cleveland, and
chairman of the executive board
Of the Affiliated Retail Stores,
an organization of close to a score
of prominent department and re-
tail apparel stores in all parts of
the country.
Mr.. Sincere, in an open letter,
expressed the opinion that the
curtailment of production had
reached stage that might be re-
fected in a scant supply of goods
next spring.
ut will be our plan,' he wrote,
''to purchase spring merchandise
in such quantities as may be cur
rently necessary, but not, how
ever, in any manner to bring
about the possibility of chaos and
uncertainty such as were expert
enced during the war period, by
the placing of heavy orders so far
ahead as to disturb the equi-
librium Of the primary and Sec
ondary markets"
New-York tribune., 1920-11-23
Commercial Credit

The merchandise credit situation is
growing moro strained with the fall IN
prices. and many credit authorities
are convinced that the worst of fnan-
cal embarrassme extensions and
other forms of difficulties has not been
seen. Further financial difficulties are
expected among the smaller retail
dealers
Until the present the retail trade
has been fairly free of bankruptce es
and similar troubles, in contrast to the
number of failures in wholesale circles.
The fact that retailers are carrying
fairly heavy stocks of high priced
goods, which are not moving as rapidly
sale credit men, forms a sore spot in
the situation. A good holiday business
would relieve the financial stress on
New-York tribune., 1920-11-23

Notice from the CHICAGO Great Wsstero
Railroad Company winch owns all of the capital
res bonds of the not been earned
r that during this period Chicago Great
w ke deficiency the Chicago Western Railroad Com
nv determined that it will longer such advances
and result of this decision the interest bonds
~ he 1920 will not be paid
The been agreed to act az
Bndhoders Committee interests of
The holders of the above described bonds Deposit Agreement
Illinois Trust and Savings
ocess preparation and thereof will upon
application to those applying to the office of
The situation which prompt and concerted
action the bondhoders who therefore URGED TO DEPOSIT
THEIR BONDS with 1 1920 and subse
ouent attached with The New York Trust Company
BROAD New York City The Illinois Savings
Bank Chicago Illinois, under said Deposit Agreement
that he Committee in their behalf.
Temporary Certificates of Deposit will be by
rtar Sub Depostary exchangeabe for
certificates when ready for delivery.
York City, November %, 1920
MORTIMER N. BUCKNER Chairman,
President, The New York Trust Company.
HUNTER s. MARSTON
Blair Company,
FREDERICK H. ECKER,
Vice President, Metropolitan Life
Insurance Company.
EUGENE NJ. STEVENS,
Vice President, The Illinois Trust
and Savings Bank
Bondholders Committee.
HERBERT " MORSE
Secretary,
26 Broad Street,
New York City.
W NJ. CUTCHEON,
ALFRED A. COOK,
THE NEW YORK TRUST COMPANY
Broad Street,
York City, Depository.
THE ILLINOIS TRUST AND SAVINGS BANK,
Chicago,
Illinois, Sub Deposary.
New-York tribune., 1920-11-23

many retailers and the entire trade is
hoping that relief Will come with good
shopping weather, between now and
Christmas.
The banking supply Of commercial
money is growing more plentiful, ac
cording to bankers, although rates have
not yet softened. Commercial paper
continues to discount at per cent,
with some exceptionally good names
going for 7$a per cent. No change
was made yesterday in rates for bank
ers' acceptances. The market for both
commercial paper and prime bankers
bills waS active
New-York tribune., 1920-11-23

can find here number of profit
able and attractive offers TO submit
to it's clientele. Can get the Gus
toners orders before the goods are
purchased. Visit the sample room.
Prices are extremely low. SUBJ
stantial discounts on large pur--
chases, and 30 days 70 completss
payment. Ring up and state your
requirements; or ask for catalogue. :
Tel. Sunset s100. Ext. 755. Or
write: u. S. Navy; Board of Survey.
Appraisal ana Sale, Naval Supply
Depot, 30th st. and 3rd Ave, :.
Brooklyn, N. Y. =.
Eugene II. Tricou. q
Lieut.. Commander Is. c., u. S. NJ.
New-York tribune., 1920-11-23
Fears Further Price Recessiors

Queetion-Wil you kindly give me your
estimate of the value OF the stock of the
General Electric Company absolutely
safe Investments hear reports, Of en-
plans OF that company for early new
financing operations the effect of which is
said to be to probably reduce the market
value Of the stock without in any way
impairing Its safety What you tell
me Of this reported plan? I am referring
to investments which are not likely to
have their yield impaired or reduced by
the prospective further drop In prices OF
securities.-S. r.
Answer-The General Electric Com
pany has authorized an increase in
capitalization of 20 per cent. Stock
holders may subscribe at $100 a share,
one share for every five held. What
the future dividend policy of the COM
Iany will be we cannot attempt to say.
The companys earnings have been
lood, and the new money was needed
for corporate purposes. This by no
means indicates that the General Elcc-
trio Company stock has suffered an
Impairment Of value Much, of course,
depends upon whether current 'divi-
Gends will be maintained. The stock
fas been paying 8 per cent in cash and
per cent in stock. We cannot at
tempt to give you list of securities
which will not suffer decline. If you
would buy TIE best investment. and
tive one which will maintain itself best
ef all, you should consider United
States Treasury certificates due in 3
Sew months
New-York tribune., 1920-11-23
Chino Copper Earns SLAB
Share for Nine Months

The Chino Copper Company reports
total profits for the nine months ended
September 80, at sl,24S,6s2 equal to
SLAB share. compared with $685.. 1888.
or S1.03 for the corresponding period
Of the preceding year Surplus for the
period amounted to $269,935, against
6 deficit of $1,O58 ,067.
For the quarter ended September 80
total profits showed $10s,7S3. equal to
Il cents share, compared with $780,
152. or 81 cents share, for the pre-
cents q share, for the CORRESPONDING
quarter of 1919. Deficit for the quar-,
ter was $217,459, compared with $40
800. F'''
New-York tribune., 1920-11-23
Chooses Issues Sensitive to Earnings

Cuestion-Will YOU kindly give mo some
Information on British American Chemical
Cities Service bankers shares and Chi
caso Rock Island & Pacific per cent
are they good investments?-N T.. b.
Answer-We do not regard any of
the stocks you name as good invest
n.ent issues. All are highly sensitive
t. earnings, and dividends in the first
two instances are based upon such
g. Pacific must show it's ability to
cbrn considerably more than for the
pest two years to maintain preferred
dividends. The railroads are by no
means out of the woods. Rates have
been increased, to be sure, but so far
vesults have been rather disappoint-
ing. If you desire to place yourself in
good investment position, you should
consider only those issues which are
so we'll secured that they are not so
sensitive to earnings and other devel-
Opments.
New-York tribune., 1920-11-23
Sharp Drop in Worsteds
Rapid Decline Alarms Some
Textile Trades

Prices of fine worsteds, which for
some time showed slower inclination
to lower prices than did woolens. are
now coming down with such rapidity
that some trades are frankly alarmed.
According to a prominent jobber of
fine woolens, such merchandise is now
procurable at prices about 40 per cent
under those of 1917, and an even
greater decline compared to the peak
reached early this year.
New-York tribune., 1920-11-23
Awaiting Lower Prices
Retailers Look for New Lists on
Rubber Footwear

Shoe retailers are anxiously await
ing the announcement OF new prices
by tha leading makers OF rubber foot
wear. Stocks in the retail stores are
not heavy at present, but most Of the
merchants assert they have substan-
.ial orders placed to be delivered with
in the near future.
Some of these orders are overdue
now, and this seems curious in view of
the fact that lower prices in primary
sources are expected to be made with
in few weeks as a consequence OF
New-York tribune., 1920-11-23

Information

Questions Of general interest to In
cestors ,cifl Do ans,oeyed IN this csl-
unn. IN achich case only initials .siI
Dc used. Others toiN be dns1ccred BY
mail. Address all inquiries, incles-
ing stamped, addressed envelope, to
Financial Editor, The Tribune, lSI
Nassau Street. Ne,o York City.
New-York tribune., 1920-11-23
Retailers Show Anxiety
Most Concerned Over Possible
Slump in Buying Power

The curtalment of production in the
textile mills and in the leather and
shoe factories is having a curious effect
upon retailers. They are not 80 afraid
of a shortage of goods next spring as
they are of a wave Of unemployment
that will seriously affect the purchas-
ing power of the countryA
New-York tribune., 1920-11-23
sls7.s76.ss7.
s;s,e Of New

s'sse Of New York. County OF New York.
|. WIZ. p. CABLE. JR, Cashier OF The
hanover National Bank OF the city OF New
'ork, do soiemnly swear that the above
'atement is true. to tho best OF my knowl-
edse and belief.
WM. n. CABLE. Jr., Cashier.
subscribed and sworn to before me. this
"a day OF November. 1920.
~ ". l. THOMAS. Notary Public.
rs,irrect-Attest; New York County.
WILLIAM WOODWARDV
JAMES s. FARGO Directors.
ELIJAH =. SMITH
New-York tribune., 1920-11-23
Stocks Ex-Dividend

vals Conpany Per cent
Nov sI-Delsware & Hudson Co. 81.
NNoy se--Diamond Match Co.
nov NOV se-Eastmau Kodak Co. 2is extra ga
Ssv a.-Generai Cigar Co.. Inc, pt. -.
''V xI-Ct Northern Iron Ore Proper
ties. r. c. b. I......
SSov so-Norfoik g. Western Ry Co... / u
NNov so-Nunnally Co. Co.................
Sev!e-Reading Co. LIST pf.-....... II
wv wNov so-United Cigar Stores Co.. pf. 81
NV wv So-Ajax Rubber Co. Ino..
Wv Wv so--Amertcan Express Co...
Wv Wv So-Am. Tel. s. Cable Co... IL
wv wv ss-Atlsntic Reening Co.......
wv wv So-Cslifornta Packing Corp. I Il
wv 'A+-Cousolidated Cigar Co.,
N. Temp pf. ................. IN
Wv Wv so-Crex Carpet Co.
yss ysy se-Erie & Pittsburgh K. X. Co.. =
wv s'--federai ed Mining & sinelt ,x
NJ sI-HackensackW Water Co... =
"0v as-Nationai Cloak and Suit
NOr =, Co. pf. ...................
Nos. NJ. so-Southern Pacific Co. ........ -
NV NV so-Southern Ry. Co. pf. 5n
Nor' ssss-Standard on Co OF N. j..
Na,' % do pr. ..,...-........ "a
y" se--U. s. Industrial Alcohol Co. z
= Aany . worried person made happy by
New-York tribune., 1920-11-23

q Asny . worried person made happy by
~. ~ return of lost valuable through a
II nsa.nuns Lost and Found ad. Phone Beck
~~n Soo0.--Advt.
New-York tribune., 1920-11-23
REPORT OF THE CONDITION OF
The HANOVER NATIONAL BANK

OF THM 0I7N OFT NEW YORK
II New York -iu the State Of New York. at
The close OF business November Is. 1920:
NESOJ re ES.
Loans and Discounts. ....... .S96971,S2s
New-York tribune., 1920-11-23
Philadelphia
Bonds
Pittsburgh

$4,000 Phil GO con 5s 70 - 7s,s 7sis
1000 Phil El 1st 5s SAL. So. S4l, SAL.
1900 Il & = ctfs Is 55 30 So So
New-York tribune., 1920-11-23

:. --7--7---------7@ wv, 3 70 oV
stters OF Credit and Travel
sfB' Checks ............. s6s34l.5o
A'tsers OF Credit (acoept-
snces executed by ether
Banks thereunder) ... s2e2ss.24
New-York tribune., 1920-11-23

ALTOONA. Pa.-Wllialn F. Gable Co
Miss Bahe. art goods. $50 Fifth Avenue.
ASHLAND, ky.-McCiintock, Field & Co.
,Hr. kantzhols. piece goods; I2 Leonard
New-York tribune., 1920-11-23

Total .................. $S<,3to,4ii
LIABILITIES
Capital stock ck................ s2,ooo,ooo.oo
Surplus:
Surplus fund. $4,000. 10000
Undivided profits l.l<3s2
Arizona republican., 1920-07-23
Summering ArizOnians

c. H. Rittenhouse of 1121 north First street is located for the present at Mendon, Mich.
 Miss Ferieda Laveen of SIS North First street is spending her vacation in Long Beach.
 Mr and Mrs. E. R. Hubbard of West Bynwood Street left recently for Los Angeles and southern California beaches where they will spend the summer months, returning about Sep tember 1.
 Mrs o. J. Lundgren of R. F. D. No. l left recently for Los Angeles, where she will spend the remaining summer months.
 MT and Mrs. F. D. Lane of East Me Doweu road left Sunday for Flagstaff, where they will remain for the rest of the summer
 Mrs. George Sears, who has been in Los Angeles for the past few weeks. is now visiting in San Diego.
 Mrs. Elizabeth M. Young, who has been visiting in Los Angeles, is now located at Long Beach.
 Mrs. Harry Effron of East Van Blu ren street left a few days ago for San the next few weeks.
 Joseph Loftus of 520 West Latham street is enjoying the sea breezes at Hermosa beach.
 George s. Price of West Palm Lane left recently for Long Beach where he will remain until the middle of Sep tember.
 H. B. St. Claim of 1911 West Jeffer- son street is located for the remainder of the summer at Long Beach.
 J. N. Brown of South First avenue left recently for Santa Barbara, where he will spend his vacation.
 E. F. Schrab of S34 North Third lcfr. ic nf ha summer in San Diego.
 MT. and Mrs. J. s. Griffin are To- cated until the middle of September at La Jolla; Cal.
 S. L. Hamilton of 9O9 North Sev- enth street left a few days ago for Prescott, where he will spend a short vacation. w. E. Wainwright of North Fourth avenue left yesterday for Los Angeles where he will spend his vacation.