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The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-02-10
CITY NEWS
Read The Daily Gate City.

~2SScA - 1V Ln1as SotS Wy.
-Elks' next dance Wed, Feb. IL.
Read the Dollar day advertise
ments that will appear in The Gate
City Thursday and Friday, so you
can get the bargains that will be Of.
fered Saturday, Feb. IA.
L Q. o. H. lodge. No. 704, meet
regularly every Tuesday evening a:
O'Clock. All visiting members cor
ly invited. John G. 8tadler, die.
otor. A. Z. Laubershimer. secretary.
Dan c. VOORHEES, of Los Angeles,
formerly member Of Keokuk lodge
No. 106, y. p. o. T., sends 10 the
local organization copy of the LOS
Angeles Times which gives an illus.
'tration Of the proposed new Elks
club II Is TO be erected at the cor
ner Of Eighth and Flower streets and
will cost 81 100000. When completed
United States. The building viii be
twelve stortes.
Only the severest kind of sick.
ness and tie worst kind OF roads
VIII keep the shoppers away from
Yeokuk next Saturday. Indications
are that the roads viii be in good
condition, and as the flu is diminish
sng. q large trade is expected from
the nearby towns. The Keokuk mer
chants who are putting on the Dol
lar dey sales are mindful Of the bust
ness from the surrounding towns and
yflE Try harder than ever next Sat
urday to haye something that VIII
. win additional favor from the Wis
! fi0rs.
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-02-10
MERELY A JOKE

You thought you saved $40. Do
you remember those woody surface
cloaks, with paper weight silk Innings,
dyed rabbit fur collars you said were
$40 lower priced than ours? Look at
the cloth and fur collar today.
Where's your lining gone? Why your
coats sagging all over? A nice gar
ment for next year? Now look at
those we guaranteed for two seasons
and notice them next year. Remem-
Der this now when you want a spring
garment. The name Lowitz has stood
Tor quality in Keokuk for As years.
Whenever Lowitz must sacrifice quail
lty for a few dollars we quit Notice:
A few Of those good red tag suits,
coats, dresses, left at so to S25
Worth few months ago SIS to $50.
And new spring wear arriving daily.
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-02-10
CITY NEWS.

-Elks dance Wed. night.
st. Mary's coffee Wed. afternoon
Next Saturday, Feb. ia, Dolla-
day.
Extra salesladies wanted for Dol
lar day. Apply at once. The Roya
Cloak Co.
In drinking J. Burk & Co. soda
water, notice the size OF the BIT
and the quality. Phone 329.
Regular meeting Of Morning ST.
lodge, No. 8, K. OF P, at Castle hal
Fifth. and Blcndeau. i. J. Hutcher
son. c. c.; J. A. Burgess. K Of /
and s.
Funeral services for the late
Jacob Schlotter were held from tbs
residence on the Johnson street rOaE
Monday afternoon at 2:3O o'clocE
with the Rev Ezra B. Newcomb off.
ciating. The paIlbearers were: 4. J.
Hardin, Henry Seaman, Herman
Hemmy, Fred GIewe, Cornelius I'M
megart. W. A. Nichols.
Extra salesladies wanted for Dol
lar day. Apply at once. The Royal
Cloak Co.
/ Rev. F. C. Bowling Of Buxton,
Iowa, will preach at the First Afri
can Baptist church, Seventeenth and
Main streets, tonight Service com
mencing at 1880 p. m.
! -lnterment for the late Srs.
Katherine Merrick was held Monday
in the Catholic cemetery with gerv.
ices at the grave conducted by the
Rev. Father James Dunnion. The
funeral was held from the Pearson
vaughan and Holbrook undertaking
parlors and the pallbearers were:
James Fallon, John r. Welsh
THOMAS BTeheny, Judge w. L. Nc
Namara, Clarence Schoewalter, Ben
; jamin Forquer.
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-02-10
RIZER GOES;
MORAN BACK
Present Chief Clerk at the Hotel Iowa
Goes to Ottumwa and Former
Chief C'-~'c u Back on
the Job.

L. e. Rizer, Wa mas been clerk at
the Hotel Iowa for several years
and lately chief clerk. has resigned
10 be chief clerk Of the Ottumwa
hotel In Ottumwa and will go there
lat once with Mrs. Rizer.
w. V. Moran, long chief clerk at
the Iowa, who recently made little
excursion into the restaurant bust
ness, is again chief clerk there, sue.
.ceeding Mr.. Rizer.
Harry Hull retains his position as
day clerk at the Iowa, and the new
night clerk is o. E. King OF this city
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-02-10
\ TO PROVIDE
SCHOLARSHIPS
Fund Is Available for This Use ana
Former Service Men are Eligible
to Take Advantage of
Offer.
KEOKUK QUOTA is $3.50
Amount Outside of Lee County Is for
S454 and Men All Through
Lee are Eli ,
sbIe.

A fund providing educational
scholarships for exservice men
whether soldiers, sailors, or marines,
has been set aside by the national
war work council OF the Young Men
Christian association. This Is TO De
distributed in proportion to popula.
tion and to be allotted by local COM
mittees.
The money was provided through
the united war work campaign for
educational facilities for the soldiers
in Europe. The close Of the war
made it impossible to use the money
for that purpose and ii Is now being
devoted to the education Of the de-
modified men. For this city S2So
have been provided on the basis OF
our population. This amount is avail
able for scholarshipsin Y. NJ. e. A.
schools, business colleges, correspon-
dence schools, short term agricul-
tural or mechanical courses; and In
any other courses or accredited instf
tutions less then college grade.
The United Y II. {. A. correspon-
s.snce schools offer courses in egrf
culture, rural engineering, civil,
structural and electrical engineering.
commerce, mathematics, mechanical
drawing and civil service. Thus the
opportunity for improving itself In
almost any field becomes available to
the rural young men. the man IN the
small city, and the man In our larger
centers.
a committee consisting Of Messrs. ].
o. Boyd, l.. Matless, Howard Wygle
and Adrian Kirby OF which J. o.
Boyd is chairman, has been appointed
for the administration Of this fund,
for Keokuk.
Applications for these scholarships
will be received at any time, and re-
quests for application blanks may be
sent to Mr.. c. E Durgee, general
secretary of the Y. NJ. C. A.
The amount allotted to the county
outside of Keokuk is s454.
The committee for the county is Mr.
81 c. Brown, chairman, II. C. Chap.
man, Mooar; L. w. Wahrer, Montrose
and G. W. Mattern of Donnelson, la.
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-02-10
CITY NEWS
EIks dance Wed. night.

E1ks dance Wed. night.
Earl Marlin is seriously i'll at ST.
Ioseph's hospital.
Dollar day next Saturday, Feb.
IA. Tell your neighbors.
Keokuk club Valentine dinner.
dance, Saturday, Feb. IA; also tables
for cards. The next regular card
party will be Feb. 10.
Next Saturday there will be a
large number Of out-of-town shoppers
In the city to get the Dollar day bar
gains offered by the Keokuk mer.
chants. Watch the advertisements
as they appear in The Gate City, and
then your shopping will be easy and
profitable. The advertisements will
tell you the stores that are giving
the Dollar day bargains.
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-02-10
K.EOKUK LODGE
HAS PROGRAM
Odd Fellows Enjoy Treat Following
Regular Meeting Last Even
ing at Their

Keokuk lodge No. Is. l. o. o. F..
enjoyed program OF unusual merit
last night following the regular lodge
session. The members who were
present had a treat In the program,
especially in the number given by the
Happy Six orchestra This organiza-
ton is one Of the best OF its kind,
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-02-10
Amendment is Ratified.

limited Press Leased Wire Service
TRENTON, n. j., Feb. 10.-The
women's suffrage amendment was
ratified by the state Of New Jersey
early today when the assembly by a
vote Of 81 to "a passed the senate
ratification measure following an all
night session. The. same measure
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-02-10

and It's program last evening proved
well worth hearing.
Besides the orchestra music there
was an Indian club drill by drill
squad from the Y. M. G. A. Miss
Ruth Mackie played piano solo,
and H. ]. Bonham. P. G. Of the order,
spoke briefly.
The lodge is planning a similar
program at another meeting in the
near future.
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-02-10

! Philadelphia women propose or
ganizing political club. the frs. Of
its kind in the Quaker city.
The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-02-10

was passed by the senate Monday by
vote OF to 2. New Jersey is the
twenty-ninth state TO ratify the fed
eral amendment.
New-York tribune., 1920-03-21
Only Well Came in Dry

Question-Have purchased the following
stocks stock @. Of Messrs Whitney 4 Co., 26 Cort-
landt Street, New York Texas King Oil,
paid 81 per share; Burkburnett Oil and De-
velopment Company. $3.50 per share. They
are now asking me to buy stock of the
Slant (Casinghead) Gasoline Company at
garding the Texas King Oil Company and
can get value for Burkburnett American
OIL and Development Company VIII you
please be kind enough to give me the advice
stocks ?-E. II. P.
Answer-The Texas King Oil Com
pany, we are told by members of the
firm of Whitney & Co., was a one-well
proposition and that we'll came il
dry" although "gushers" were flow
ing on both sides of the tive-acre tract
on which it was drilled in the Burk-
burnett field. Under the circumstances
your stock does not appear to be worth
very much. Mr.. Whitney explains that
the firm feels very bad about this fail
ure, so they now intend to give their
clients an opportunity to get in fright
Company, which has been organized
with a capital Of 100000 shares. The
promoters of this company say it is
their intention to erect plants at Des-
demona and other places in Texas
where gas can be had in large quanti-
ties and compressed into small guam
titles of gasoline, provided enough
stock is sold to build them. Stock in
this enterprise was first offered at So
n share, but now Whitney G. Co. are
asking Sc for the privilege of sharing
in the prospective profits. These may
nlaterialize, but the stock in our opin-
ION is good thing to let alone unless
YOU want to gamble, even as you did in
Texas King Oil. The Burkburnett
American Oil and Development Com
pany is said to be pumping between
100 and $50 barrels o day from lone
and Whitney & Co. say dividends will
be paid on the stock at the rate of l
per cent month, in quarterly Install
ments. The company is capitalized at
$750,000, par value of shares, 81.
New-York tribune., 1920-03-21
Pierce OIL Corporation

Question: am thinking OF buying Pierce
Oil preferred and common as an investment
and speculation. ! would like, and am sure
others would, too, to read your analysis of
this company before making a commitment
Il. D. B.
Answer-The Pierce Oil Corporation
for six months ended June 80; 1919,
showed net income after interest
charges. but before Federal taxes (they
were S703,245 for the year 1919, of
81, ,452,515 After dividends for the
period on the 8 per cent preferred,
which amounted to 100000, the bal
ance was equal to about $1O3 a share
on the $21 ,943,450 common stock, par
$40, or at the rate Of s2.06 per annum.
The company is using it's resources
largely in developing new oil production
on its Texas acreage. 1t is said to have
started the year with net current as
sets of about $15,500 900 over indebted
ness. We regard the preferred stock
as good speculative investment, but
the common is more speculative. Since
the issuance of the preferred stock the
margin of earnings over dividend re-
Quirements on this issue has not been
substantial. Earnings must improve
considerably before the common will be
entitled to any kind of an investment
rating.
New-York tribune., 1920-03-21
French and German Bond.

Question: am offered chance to buv
French bonds, 1ooO-franc bond, Republic Of
France. costing $72.73. par value 5000.
bearing per cent interest, payabla May /,
November J.; German bonds. 5000 marks.
City of Berlin bonds, cost about $3.50. par
value about $1,000. interest per cent, pay
able March l, September 1. Do you con-
slder this an Investment or a speculation
Is it safe? Can you give any idea when
they will be at par !-F. r. S.
AnswerThere is certain amount
OF speculation in the purchase of for
eign bonds. Most of the foreign ma
tlons of Europe are going through a
period which is more or less critical.
Herein lies the speculative feature,
apart, of course, from the foreign ex-
change feature. 1t is our opinion that
France will be able to come through
this period safely. Therefore we be-
lleve her bonds offer unusual specula-
tive investment opportunities at this
time, but would not attempt to fore
cast the time when they will sell at
par. AS for Germany, we are of the
opinion that her case is far more diff
cult than that of France. Many things
are likely to happen in that country, as
events of the last few days have clearly
shown. German bonds would seem,
therefore, to offer little more than a
gamble.
New-York tribune., 1920-03-21
Baby Bonds Usually Cost More

Question: have occas ionally noticed in
your column various bonds which you class
speculative investments. Could you tell
ME which ones can be had in denominations
of less than $1,000, and which fall in this
class, Offering a good rate of return at
present prices with a possibility of an in
crease In market value? Could you also tell
me whether such bonds in denominations of
500 or $500 would cost more in proportion
end whether there Is a higher commission
charged for the purchase of these than for
their big brothers" in the 81 900 denomna-
tions ? Would you also tell me whether quo
tations on bonds in the active list are net,
OK whether accrued interest from date of last
coupon is charged in addition to the quoted
sale prices? What does "s30f' mean? Out
of the following list. which have the least
chance of actual loss Baltimore & Ohio re-
funding 5s. Hudson & Manhattan refunding
5s, 1nterborough Rapid Transit refunding 5s.
Missouri. Kansas & Texas first As Philadel-
phia Company 5s, due 1922 Public Service
of New Jersey bs ST. Louis s; San Francisco
series c. and St. Louis & San Francisco ad-
ent market? Are New York Railways ad-
or is there chance that this is below
actual property mortgaged III. c. X.
Answer-Few of the bonds we have
from time to time mentioned are OBJ
talnable in less than $1,000 pieces.
The purchase of bonds in small de-
frequently results in hav-
ing to pay above the market price for
them. Most New York Stock Exchange
houses charge . minimum commission
New-York tribune., 1920-03-21
The Pullman Company

Question: would thank you for what in
formation you may give me about Pullman
Company. Are they earning the s per cent
dividend? Has the government released
control? Did the Union Pacific order 900
refrigerator cars, and is that considered a
good order? What do they make. and where
is their factory? Do you think that this
concern as a rail equipment company will
profit to any great extent in 1920? Is Pull
MAJ Company an investment stock j. II. S.
Answer-The last report of the Pull
man Company showed that the actual
earnings were $2.61 a share. Govern
ment compensation was equal to $3.50
share. The government has released
control. The Union Pacific ordered
2.1O0 refrigerator cars, divided among
several companies, including the Pull
man Company. The exact number al
lotted to the latter was not stated The
company's plants are located at Pull
man, H.; St. Louis, Buffalo, Ludlow,
Ky; Wilmington, Del, and Richmond,
Cal. 1t manufactures drawing room,
sleeping and dining cars, passenger
coaches and freight cars, as we'll as
auto bodies and phonograph cabinets.
1t also operates the Pullman system of
cars. This is its largest source of rev.
enue. The company should behefit by
the demand for equipment which seems
certain to come from the railroads.
The stock, paying per cent. in our
opinion, is good business mans in
veStment
New-York tribune., 1920-03-21
For i. $40. 900 Fund

Question-Will you please give mo the
benefit of your valuable advice regarding the
investment of a $4,000 fund.- have been
considering the following: Thirty Chicago &
Northwestern preferred, twenty shares Chi
cago & Northwestern common, thirty Union
Pacific common. thirty Southern Pacific COM
mon. thirty Canadian Pacific common. thirty
Atchison common and twenty Atchison pre-
ferred--J. NJ. r.
Answer-You are considering securi-
ties OF one class for your investment.
We do not recommend this. None of
the common stocks of railroads, it
seems to us, should be considered as
good investment at present While the
uncertainty of the railroad legislation
is past, the uncertainty as to what re-
suit the roads vii. achieve under new
operating conditions still remains.
Judging from the present prices Of
these railroad stocks in conjunction
with their present dividend rates, they
appear attractive, yet we do not know
whether present dividends will be
maintained in each casel To be sure,
you, have chosen stocks Of good COM
panies and it Is our opinion that they
will be able to maintain themselves,
but this is only our opinion. We
stated when the new legislation was
first agreed upon. that in our opinion
the strong roads would grow stronger.
We are still of that opinion. However,
there is large element of speculation
about thc1A For pure invcstnsnt pur-
New-York tribune., 1920-03-21
His Family Much Pleased

Question: wish to thank you for YOUR
advice of some weeks ago regarding an ad-
ditional purchase of the common stock of
the American Brake Shoe and Foundry Com
pany, which has sold this week at 102 and
my little family Is very much pleased at the
result l suppose this stock should be sold
and the profit obtained, but as it is possible
a stock dividend may be declared, do you
think it would be better to wait and secure
the advantages to be derived? No one seems
to know what amount of dividend is to be
declared. but the company is an honest
one and capabIy managed. may one not sup
pose the common stock holders will be treated
justly? Perhaps you will be willing to advise
me again, in which case I will be very
grateful.-L. w. A.
Answer-It depends largely upon
whether you have purchased your
American Brake Shoe stock for invest
ment or for speculation. The company
is we'll managed and we have not the
slightest doubt but what you will be
fairly treated, whatever the policy of
the company may be. The common
stock, you understand, is limited to
z per cent after which the preferred
only shares in the profits These are
days of the "stock dividend" craze;
very likely the affairs will be overdone
in the speculative market and many
disappointments will result.
New-York tribune., 1920-03-21
Camoufaged Reports

Question-The enclosed clippinv With 49,
er ee.enoe 70 ennual reports was taken from the
,sanciai page OF a New York morning paper
~ this person, who seems so sure Of his yns;
sion IN discussing what seems to be dan
Ssfous thlng to do (unless he has proof Of
tom s'"ien'enss', can substantiate his conten-
.lons, agree that it is high time that all
stockholders should compel an investiuat;on
.s,. ~ uoes not seem possible that the method he
fuv senus Oh anbreviatng greatly and care
i fuio with high grade and reputable conc.rn.
ne should have qualified his statement tbut
ns cGmcerns who resort to this .oethod Of
and unreliable ones. who fear to disclose thn
truth in financial affairs Kindly y;ve ,,'e r"e
your opinion.--L. G. II.
Answer-There is no doubt that
many reports are issued which are
practlcally meaningless to the stock
hoider. The average speculator. per-
maps desires to know only what earn
lngs are and whether or not the com
pany's surplus is such as to warrant an
extra distribution. Nor are we o,,;te
sure that reports Of corporations is
sued so as to hide certain items arp
connned to unreliable concerns The
average stockholder, we believe. does
not thoroughly read his company's re-
ports, much less attend meetings where
ne may ask questions and determine
Ior himself just what is the status of
tne company. The United States Steel
Corporation issues about as intelligent
report as the average stockholder
would require. The reports issued by
railroad companies probably are the
best of all. In these, as rule, one
may obtain rather accurate statement
of just what each item in the report
represents. 1t seems to us it is with
annual reports a good deal the same as
with elections. Voters complain of the
type of men who represent them in the
Assembly, the Senate or Congress, vet
they are not interested enough to at
tend the primaries. If stockholders
would show more interest in their com
panies' affairs perhaps we might be
! blessed with uniform, intelligent re-
ports.
New-York tribune., 1920-03-21
Barnett OIL and Gas

Question-Can you advise me as to what
disposition l should make OF my holdings Of
1000 shares of Barnett Oil and Gas stock
! note that this stock is not being bid on
the curb. The last heard was that Va was
offered for IT. I bought this at 1s Would
it be well to hold this or would you advise
selling at any price "A B. C.
Answer-Stockhoder of Barnett Oil
and Gas Company were recently asked
to deposit their stock for reorganiza-
ton purposes. We have not been able
amount was acquired for the plan to
be consumated. We regard the stock
as pure gamble.
New-York tribune., 1920-03-21
Answer-Atchison has been q
Large Earnings Shown

Question-Please give me your opinion of
Underwood Typewriter Company common,
Cuban Cane preferred. American Beet COM
mon.--R. D.
Answer-Underwoo Typewriter has
shown very large earnings for the past
few years. In 1919 it earned 24.74 per
cent on the common stock after pay
ment of the preferred dividend. 1t
pays per cent regular, with extras
10 per cent extra in 1919. American
Beet Sugar earnings are said to be
equal to about Is per cent for the year
ended March 81, 1920, against 1856 per
cent the preceding year. We consider
both these issues as Offering good
speculative possibilities. Cuban Cane
Sugar preferred is entitled to a fair
investment rating. Earnings are ample
to care for dividends at present, al
though the stock, we believe, is not
seasoned enough to be placed in the
class with high grade preferred issues.
New-York tribune., 1920-03-21

of 81. All of this adds to the cost of
your bond We think, unless you pur-
chase bonds in $1,000 lots, you would
do better to buy preferred stocks of
high grade. All bonds on the New York
Stock Exchange are quoted land Liter
est" meaning that the purchaser pays
the interest accrued from the last pay
ment. "S30f" means "seller thirty
days, fiat" The seller has thirty days
in which to deliver, but interest ceases
on the day of the purchase. Of the
bonds you mention we should rank
them as follows: Missouri, Kansas e.
Texas first 4 per cent; Philadelphia
Company per cent; St. Louis g. San
Francisco series G; Public Service of
New Jersey per cent; Baltimore e.
Ohio refunding S per cent; St. Louis &
San Francisco adjustment per cent;
Hudson & Manhattan s per cent; Inter
borough per cent. New York Rail
ways adjustment per cent are pure
speculation, in our opinion.
New-York tribune., 1920-03-21
Investment Information

advise the purchase Of common shares
for pure investment purposes. The
class. Of preferred stocks we recon-
mend for investment from time to time
do yield more than most we'll secured
bonds. One cannot say that bonds arc
better than preferred stocks. Some Of
the latter are far better secured. In
the case Of particular company,
United States Steel, for instance, the
bonds are better secured than the pre-
ferred stock, but United States Steel
preferred stock is better secured than
most of the bonds of the Erie Railroad
Well secured bonds of long maturity
yield from 51h to per cent, while the
preferred stocks we refer to yield from
6 per cent to over Z per cent. "The
Commercial and Financial Chronicle" )"
published weekly, is q reliable publica-
tion.