davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-01-24
General Motors Dividend

1t was learned from reliable quar-
ter yesterday that it is the plan of the
GENERAL Motors interests to put the
ne" common stock, issued on basis Of
zen shares OF the new for one of the
Old, on an annual basis of s2a share
inns Will probably be done some time
in May. when a quarterly dividend OF
50 cents share. is expected to be de-
clared. On the basis Of the present
common stock. this would mean divi-
dend of $50 share. against the SD
rate now being paid. The new common
stock VIII not be issued until May. be-
cause Of the delay in getting the ccrtifi-
Gates engraved
New-York tribune., 1920-01-24
Bringing Rates Into Lima

The high point for Federal Reserv.
discount rates has not vet hoe,
eached, accci ding to knowing oanksrs
Under normal conditions. 1t wa,
pointed out yesterday, the bank rats,
should be above the oYea msrkes
rates. That they have not been sbovs
the open market rates has been dus n
the eNigencies of the war neriod No,v
that the system is functioning norma.
l.. however, it is only Il question ~
time before the rates will be maTkei
above the open market level. Tbo
rates put into effect this week bv tba
Reserve Bank OF New York and oth,r
reserve institutions in this part o,
the country. have Just about brought
The oficia. discounts IN to levol
with the open market The next steo
which viii come alon~ in due courss
according to the bankers, will prob.
ably see advances against commercial
paper raised from 6 to Ga per cen.
the discount rate on government. war
bonds from 5i2 to 81 pr cent. ami
the rate on bankers acceotances from
D 10 D IL per cent
New-York tribune., 1920-01-24
Buying Rate ON
Bank Acceptances
Raised to 5A p. C..
Price of Call Loans Secured
by Bills Is Advanced:
Expect Another Jump
i'll Rediscount Rate

The immediate effect of the increase
IN the Federal Reserve Bank rcdis
count rate on bankers acccptances
from AZ to 5 per cent was a iump
yesterday in the buying rates Of the
reserve Bank and of dealers. J. p.
Morgan g. Co., who have been among
the principal purchasers of this class
or bulls, also announced an advance in
tnelr call loan acceptance rate from
~ per cent to per cent.
The new buying rate of the Reserve
Bank is now 5A per cent. instead of
per cent, while dealers in prime bills
marked their rates up one-eirhth Of
per cent, the new rate being as fol-
lows:
SPOT DELIVERIES
r,; 80 DAYS; 50 days. 30 days
Elg; F. ;;'3, non-m. bks sas @5as si@m52 SIS ass
FOR DELIVERY WITHIN THIRTY DAYS
Eligible member banks. s.... ga, hid
Eligible non-membcr banks az bid
Ineligible bank bills. s............ bid
Following the announcement that
the Morgan firm had advanced the call
loan rate on prime two-name bills
there were reports of some calling of
loans, but dealers were of the opinion
that the new rates for the fixed ma
general market inasmuch as the rates
at their present levels are said to nrc-
sent an attractive investment for both
banks and corporations in competition
with the Stock Exchange call loan
market. ivan
Reports that the current commercial
paper rate Of per cent for high grade
names would be increased above the
Reserve Bank redscount rate were not
generally credited by banks and deal
ers. it was stated that the Likelihood
OF the Ilquldation of less essential
loans would probably have the effect
Of stablizing the rate on advances ~
industries that are considered essential
to the country's welfare.
me feeling in banking circles yester-
day was that there will be still
another increase in the Reserve Banks
redlscount rates before it is felt that
the central institution has attained
its proper function of having its rates
above the open market rates.
As a result of the advance in the
Irediscount rate on Liberty bonds and
victory notes to 5l2 per cent many
PanKs which had been carrying these
securities for customers at ) per cent
jumped the charge to 6 per cent
hese factors were the primary cause
TOR heavy selling wave in all the
government war issues except the first
3 rs. which closed at 1882 up two
cents on each 500 bond. Other clos
ing prices, with the losses sustained.
were: W
First IS 91.ss. off 10; second AZ
so.oz. or g.; first AIS 1926 off "a:
fourth Az OLA. off "a; second Az
9o.96, off "a: third AZ 1920. off s.
fourth 4hs OLA, off "a: Victory "a, .
1876, off %; Victory 4s4 IS 98.42. off 10
New-York tribune., 1920-01-24
Organizations
Fighting g g Fake
Stocks MERGED
Associated Advertising Clubs
Take Over Business Men, s
League; Plan Big Cam
paign Against Swindlers

The Associated Advertising Clubs of
the World has taken over the work of
the Business Mems Anti-Stock Swind-
Ing League. which was organized
short time ago to combat the stock
svindling evil. In making this an
nouncement yesterday f. 7. Meredith
president of the advertising association,
SAID that in assuming the functions
Il the league the movement would con-
tinue to be aided by the directors of
that body.
Transfer of the work, Mr.. Meredith
said. was made because it was ap-
parent to the organizers of the league
that the campaign against stock swind-
lers would make better progress in the
ready peculiarly equipped for doing
such work
Every business is injured" said q
statement of the purposes of the move
n,ent, by the consequences of a con-
tinued exploitation of the public at the
hand OF fraudulent stock promoters, be-
cause the public is the customer of
business Clearly, if the customer is
defrauded and mproverished, his buy
ing power is impaired. Funds which he
should employ for the improvement of
his own condition, to his own profit
and the profit Of legitimate business,
are wasted.
Thrift tends to anchor men to their
Jobs-to steady them, and to increase
their value to them selves and to their
employer. When they save and ac-
quire property, whether this be the Sc
curitles of the company by which they
are employed or a home. they become
steadicr and more useful. The en-
couragement of thrift promotes better
habits both Of body and of mind.
"The employee who works hard and
saves. only to fall into the hands of
ruthless swindlers. is the more likel,
TO acquire prejudice against all who
represent invested capital. II he were
so discriminating that such a resul,
would not follow he would be discrimi
mating enough to decline 20 be charmed
by the stories of the promoter
Business is safest when the owner
snip OF business extends to the Creates
possible number OF people. Moreover
business VIII more easily acquire the
capital needed for legitimate expansion
rom thrifty citizenship
Education is the basic THOUGHT o4
his movement. We propose, through
me use Of advertising space in the
pubic press. through the distribution
o. printed matter in pay envelopes and
enc use OF moving picture slides, tho
employment of placards. posters, etc.
and by oti4er means. TO give the public
me facts with which TO combat such
swindlers
We propose 10 describe the carmarks
OF the faker, so That ali people MAJ
know him for what he is."
II vas the plan Of the league to ra;sc
AZ least $4,000 with which 10 star. thc
movement. 1t has been announced that
me advertising clubs would not, how
over. raise separate fund, but thai the
YORK would be financed out Of a fund
of sl9V' 900 year which is now being
sanscrined to carry on and enlarge the
nght of the advertising aeSoc;a,,nn
against the fraudulent usc Of adyer.iy.
ing.
New-York tribune., 1920-01-24
Federal Reserve Banks
Attacked in CONGRESS-

WASHINGTON. Jan. Complaints
rom state bankers against methods of
81 o, Il'claIs or the regional banks of the
Federal Reserve system are ho;nr ,a
ceivcd daily by members of Coneress
representative Rcavis. Republican, If
Nebraska. declared to day in the House
charging that agents and employees
or the regional banks have started on
policy toward state banks that cnn
work only disaster"
Mr.. Reavis said the trouble "arises
IN large measure through a differ
ehce IN the systems with reference TO
the charging of exchange on checks )"
Tar' 'hThcr. Democrat
I'x"s; sn'd he also had protests from
S'a'e pahhcrs, and Reavis rcjoined that
New-York tribune., 1920-01-24
The Crucitlf Melon

The Street viii not put out of its
mind belief that melon is coming
on Crucible Steel common and soon. {
the Supreme Court decides that stock
dividends are taxable the plan OF the
company to declare such a disburse-
ment may be changed, it is stated, and
it is hinted that an alternative would
be a splitting up Of the stock on a
basis of three new shares for one of
the present issue, the new stock to be
put on an annual basis Of Sc. That
would be equivalent to increasing the
dividend on the old stock to SIS. The
rate is now $l2 a share
New-York tribune., 1920-01-24
Financial Items

4@r"'' Asnferson, formerly Win st...
- Hraun. hHs become ars0rth,e.J ..lti
9"fe'. 'anscs. Fosicr b 10 Of Icnvc,
fh"4n 'N'
"hsshouse & %. members of ,ho A.v
'|ix H'cck Exchange. win open sn orlen
~ =" bfoo.lyn on 1onfsy on the ground
@ij be under the fnanakeu,nu, nf n >,
FhJfe ana Roland Efnning
Directors ~ the is r Goodrich f,o,o,a,,,
nayc vcte0. subject to approval II fio
s.cchHclGrrs AZ their annual ynre,inv nu
rar.n ~ ~ retire 1f,ss0 sbsrAs II pre-
4s19Y stock Ifioi 10 Juiy L. 1870
New-York tribune., 1920-01-24
The Dollar in Foreign Exchange

A much stronger tone developed in
the foreign exchange market yesterday
and substantial recoveries occurred in
rates on London and Paris
Demand sterling, which dropped
under $3.50 on Thursday, rallied to
S3.S3125 at the close yesterday Francs
were shade higher at ! 94 for checks.
txchange bankers said the market
had responded to a moderate increase
IN demand. AS soon as the buvInc
ceased 1t was expected that rates would
ease oh again. The market in serling
IS such that on any appearance Of buy
ing orders dealers are wont to mark IN
their quotations.
Exchange on Germany continued to
tail and the mark went to a value of
i.59 cents, new low record.
New-York tribune., 1920-01-24
Coppers Under Pressure

Copper stocks were under pressure
yesterday. 1t is learned that the gov
ernment is going after a number of
the copper companies to find out about
their tax payments in recent years.
Representatives of the leading copper
companies, it develops, will confer with
the government officials in Washing
ton early in February. probably Febru-
ary 2, although the date has not been
settled upon definitely At tire con
ference the matter of war taxes COW
cring operations in 1919 and previous
years will be discussed
New-York tribune., 1920-01-24

1t was "almost a universal complaint
among members of Congress-"
"Officers of Federal Reserve bank" "
said Reavis, "have collected as high
as 4l,OO0 in checks against q small
bank in small town and men have
gone to that bank in an automobile and
demanded cash on the checks in legal
render. Ihat is an oppression that is
likely to close bank. 1t amounts al
most to conspiracy to close a bank,
and somebody ought to be prosecuted
for that sort of conduct"
New-York tribune., 1920-01-24
Bethlehem Steel

Preliminary figures on earnings of
the Bethlehem Steel Corporation are
likely to be made public following the
meeting of the directors rext Thurs
day. Advance estimates. unofficial. in
dicate something like $50 a share on
the common stock. The company is
back to normal operating basis and
most of the earnings last year were
derived from deliveries of commercial
steel
New-York tribune., 1920-01-24
In Wall Street
The Restraining Factor

Returning to Chicago after visit
East, John j. Mitchell says there is no
doubt about the undertone of conf
dencc in securities. "But the demand
for money is strong" he continues
land is expected to continue So This
may operate against what may be re-
garded as a pronounced bull market
Money demand comes in large part
from increased cost of doing business
| do not find apprehension among
bankers over increase in Federal Re
serve discount rates"
New-York tribune., 1920-01-24
Dividends
Extras

Ludlow manufacturing Associntcd-An
extra dividend OF s. share has been de.
c,arod In addition To the regular quarterly
n,Nldend or $50 share. both payable
ruarv .
Standard Oil Company Of Indiana-Extra
dividend OF S. share has been declare.
IN addition to the regular quarterly livi
dend OF So a share both payable March 10
TO stockholders Of record February .
Regular Declarations
New-York tribune., 1920-01-24
Bid and Asked

~ Bid. Asked. Bid Asked.
AmBk Note pr 45 4512 Laclcdc Gas. 40 80
$ s?s a y > .ss cs g. 5s'' .5s 5s'
Am G & F. pr ia ll6 LWBCo lat Ir 80 D9%
Am Co; Oil. 80 LWBCo "a prlI4
Am Express. % ~ Lorlard p i6S l75
Am Icc...... ~ AN MacNay Co... 67la 20
Am Am Shipb.dg rs Math' son A 81 %
Am SIN pr A. 81 50 Mex Pc. pr. 100 l05
Ann Ann $ rSh %h pr s3 g. pr g s.
Am An. i1i iS.. lel. 90 80 X & pr l2i2 l31a
A. A., d q lst pr = ~: Nash 4 Chat lo7l2 li3
Is Loco Go pr. lol 1925. Nat Lead pr loS 100
Fax nA'SDias l,, Min: ~ aI's 9 5 @ MtS !! j
BE h St 7,h pr % 100 NYc&ssLlstpr 3 :,
Bklyn Edison. % IS NYC&StI2dpr 43lh AZ
Brown $ Go pr e5 80 y Y Dock pr s. 60
Burns i'ros pr. a5 100 ont 4 W i6s. liz
f;''Ii'SssIH + 4;s 80 $GTi <of sovIh 10 a'.
'" HSii ss pr s.: s ovens 'Ss hss pr 4s% as lss ts
H",is,jcH Is',s, rSrn 20 50 100 scc sc C G. rcas 3 50
"uf'I'iuS "u rHs pr ro ,sS s racc ac "a d = = 60
Cal & Arizona 63h - Pan A Pet Or l7S 200
Can southern. AZ 80 Peoria & East il "a
@ 90 = slS ?S clS N Mafa HTlSi pr pr g a. % e5
C"ntTaI Fdry. 20 81 ? c G 4 50 l. IS 5S
H,mt Fdry pr. u 20 Pet Nul Co.. Is *
Chi Il Alton pr 0 Is T + W & c l22i. l3l
chi + M. ) y Va pr IS 70
OK. pr nt, lis lIS' Pr St Car pr lo2'3 lo5
y S,p,, :, ~ so M&o % g. ~ Siy pr. io4 lo6
!. G: C. st l. Is A Il & Sco p- 1912 10. u
rnuMS, ,',,.s T. IL pr HS HS GG 81 J. q L pr 20 y
Elas'' c ( r; 'ss q, lei $ / s 5.
& a, 4 $ ~ pr. . 5 !; Ar i:.s i:.ns pr Il Il
Cont Con. Can s6S4 sa94 ? r sugar a25 30
crex carp Co. g 81 'ea 90 Stand Ni Sps Sr y no us
T. a Sug pr. ~ l01 lStudehaker pr. l0l l05
l. uS io7 los Sup p Steel pr r. lolA4 io io5
pet pet Edison 10 1l2 Third Av KR Il il
Rlam I'l Match, ll3 I Water Oil 2l5 $50
D I'e' s N A. loiA ro9 B. rr"t pr. los los1s
y IN : "a pr g g g. T s. l. " Gifts II IL
Elk II Coal pr g s do ctfs pr ls ~
y pr 30 aS' Il T"'@ T" ryp!w " cal: pr Iso g;
G Ghon Co.. .lss ls5 Tn r Co Isl los ilo
~ mem % 20 pr ~ l0l II Gig stores. l25 .le
CRANKY Min. 80 o. rn u LIST pr ii il7s
:. +. N w. - s's IN ID p.l3o
:, " q q \ pr. ~ 20 u Ry Invest. IL. ley,
= ~ c:'ra 81 lgt rr s> s9,> = TsCIr & pr 5$ =
IA Nrkel pr sss. sop. Vulcan n Dot. : IT, 4 4 9S
Int Salt. t...... 70is II Vulcan net p- sS ~
Iowa Central Wabash ! Su
.ew' Tea ~: lSi3 Wabash pr A. .I5i. I6,-
Jewell Tea rr 40ia ~ Wabash pr H. ~. n
kayser Julius. llo lli W Nd ID pr II 10
ll,rtS&M pr. - 63 West Pacific pr so a.
n = south. go. lS'a li'AtW Mfg ls pr C2
\ e South pr. J., +7 Wilson 60 pr 9-I. 90
II Spghril pr 9S 700 W & l. pr is 10
N Wheel 90 - 7s WiNs q pr SSia 90
y Wn 90 pr. Hf 91ia Wise Central 20 -
X & Dcs NJ 3ia II Wooworll l95 lo6
n " pea VI pr 90 30 Woowurth pr.ll4 IL,
i\r~s q CO.. ~ " PAN pr A 90 o.
w PAN pr B =. -
New-York tribune., 1920-01-24
INTO SIGHT STirENEST
Wheni-Tnc n,ar,,et VAS caster yesVe,-

Wheat-Thc market was easter y,SSSsrs
day witM prices showing r'aV.,' de-
,crGcncs. The Minneapolis lasrNe ,,hs A.
ciincd = cents per hushel for SpFi"s 5oun
whNn Ia kanaas City prices "e'c g.. r.
ahult = c.nts This WAS h"AeN,N ,n,ls
fec, a less active demand from ,n' ~ vnts.
ana littlo more pressure for Ca,,s,nnespols
Oh The market AdNiccs fion - 80, down
said that mills there were clos'ns .nr
owing To Il lack ef shipping direot.,"'. dire,s ma:
-four This WAS thought 10 ina'sy,ss,rced =
the demand Tor -four has eNpeit.ade 70
sharp falling on and that tAe a.ur y,
wgW suppiisd TIE production ot neus apd,
lar this season has been very hea,uih isa
as exports hsve not kept pace w,o V.n, tina:
wears movement. II has oeeH so,,, ths
countrv az IL has not teen reasonap.
New-York tribune., 1920-01-24
Southern spot markc:.-New orlssa'

steady. % points higher at 40c, sales =.
V'' ba les. Mobile nominal. unchanged =.
"Hf sales nii. Savannah steady. se pom
Aishor a. zoe sales 454 bales Nilnihs'
ION quiet. unchanged ~ es.50o: ss.es .a.. ni'.
Baltimore nominal unchanged s' .ss.
sal"s nal August. quiet. IS points lo".
AT 2'.25c. sales co7 bales Me.lpAs steae,'
nnc c1ansca at 80 5Qr. sales l.l'o bales -,
louis steady, uucaAus,d at 41.soc. sa =
hii F"uStnu quiet. unchanged 2; - -. -.
Sa'ys a.i1N lalrs. Lttir Eoea suie,; ~.
changed AZ as-tnc. sale. ai5 bales la,..ss
steady. > points hi-Afr ~ sisec. safes .r
bales i'uff North s,,4r. ua. ransea
New-York tribune., 1920-01-24
Money and Credit

The market for Stock EXCHANGE
money displayed slightly frmer ten
dency yesterday. Although the open
ing and renewal rate was per cent,
early IN the afternoon lenders were
askAng 8 per cent on borrowings, but
before the close of the stock market
the rate dropped back to 6 per cent.
Bankers asserted that the market for
call loans had already pretty we'll dis
counted the effects of the advances in
the Reserve Bank rediscount rates.
They said the future course of the
market will be governed entirely bv
the law of supply and demand. Time
money continued at and 812 per cent
Tor all industrial collateral.
The ruling rates for money yester-
day. compared with a year ago, were
as follows:
New-York tribune., 1920-01-24
Omen. lIigll. Low.
{ otton Statistics


10 points advance on th. basis Of s's'.
70" middiius Sal"s. eco, Arierlc' I.
900 Imports. g6.0oo. american. lo9sp
Tenders. new docket. -orJ bales. Futures
opened steady at - 70 5S points advance
Closed barely steady 80 ret advance o
70 = points. January 2f.52l; Ma;rn
- I'd. MaH, 23.6od. JULY. q 54i. OCTOBER
2o.57d. December. lgs7l Manohes,er
Yarns duh and irregular cloths quiet but
steady
New-York tribune., 1920-01-24

these or any other circumstances ~.
only means Of relief would tax tas ~
imagination 4" ''c
New-York tribune., 1920-01-24
What Do You Think of the Market p"

A big speculative operator who is a
close follower 0 the tape: Il may be
wrong, but believe that we are within
seventy hours Of Che lowest prices for
the next six months. Somebody has
been buying every share of stock sold
in this market all through the late un-
settlement and the recent stagnatIon.
1t hasn't been bootblacks or clerks,
either, who have bought the stock sold
Those kind of people never buy in a
market such as we nave been expert
encing. You can take it from me that
the bankers have been picking them up
and are Still picking them up. And
You know what that usually means
New-York tribune., 1920-01-24
Wcrthington Pump

lot Of loose talk has been heard in
the Street for a fortnight about the
high rate at which Worthington Pump
earnings are running currently. Added
to this has been a runlor that the stock
has been bought on all dips by inter
ests close to 2G broadway. The story
yesterday was that the earnings on the
common stock before taxes aporoxi-
mated 500 share last year, and after
taxes around $50 a share. These Iig-
ures are apparently based on euess-
work. This much is to be said, how
ever, about Worthington Pump. The
report of the company covering opera
tions for 1918 to a certain extent
covered up much of the prosperity en-
!oyed during that year by reason of
large items for depreciation and gem
era reserves. For this reason the 1919
report Will be awaited with much in
tprpSt
New-York tribune., 1920-01-24

Yester- Year
Call money: day 400
On mixed collateral . 6 4sh
On industrial collateral 6 5L
Time money (mixed col
lateraD:
Sixty days .7@71a 5M5lb
Ninety days .........7M71s 5Ms5s
Four months .7M71a 5M5h
-Four to six months ...7M7h 505%
Bank Clearings - Bank clearings in
New York and other cities yesterday
were:
Exchanges. Balances
New fork.... S755 ,3o2,883 $G8,473 9o9
baltimore ..... l4,593.741 6.O4O.832
Philadelphia -. 78,o2sl62 1s,54s,o54
Silver London, 797sd; New York.
Sl.S2A; Mexican dollars, $1OO4.
Sub-Treasury-U United States Sub
Treasury debit balance, SCI, ,457; Fed
eral Reserve credit balance, S64,713,143.
El Imparcial. (San Juan, P.R.) 1918-197?, 1920-11-17
Noviembre IL.

ANONANlAi iiysk
Ell Pueblo v. Casiano Lipardo, inf.
art. 1928 del c. P. y Alfredo Padilla
ct al, adulteracion de leche. Sc ce-
lebraron las vistas de los casos con
asistencia de las parties.
Gabriel Guerra v. Comisi6n de In
demnizaciones a Obreros, certiorari.
Sc celebraron conjuntamente las vis-
tas de los casos con asistencia de las
parties.
Renet y Souffront, peticionarios,
senalamientos de asuntos civiles PEN
dientes. en- apelacion. Tengase en-
cuenta en- su oportunidad Ia nlocion
de los abogados Benet1y y Souffront,
de fecha-9 del corriente mes.
Elk parte Pedro F. Quinones, Mi
guel Gonzalez, Adolfo Porrata Deria,
Arturo O'Neill, Horacio Franceschi,
Vicente Ortiz, Eduardo Perez Casal-
due, jaime Llovina y j. j. Vergne,
admission a examen de revalida. Sc
aprobaron las solicitudes de los pc
ticionarios, ordenandose Sc de cuen-
ia con elias la Junta Examinadora
para la resolution que estime proce-
dente.
Elk parte JESUS Alexandra Gonzalez,
admission al ejercicio de la abogacfa.
"No ha lugar".
Elk parte Angel C. Gambia y Juan
Lastra, Jr. admission al ejercicio de
la abogacfa. Sc admiti6 a examen de
revalida a los peticionarios con la
condici6n de que deberan radicar opor
tunamente en- la secretarfa de esta
corte, su Diploma de Abogado debida-
mente legalizado y la declaration del
Dean sobre asistencia personal cla-
Sc.
The Fajardo Sugar Co. v. Manuel
Rodriguez Lopez, desahucio. Sc tu-
vo por desistido al demandado-ape-
lante de la apelacion interpuesta en-
este case contra la sentencia de la
corte de distrito de Humacao.
Manuel Rodriguez Lopez v. The Fa
jardo Sugar Co. injunction. Sc tuvo
poN desistido ell demandante de la
apelaci6n interpuesta contra la SEN
tencia de la Corte de Distrito de HUI
macao.
Noviembre IL.
Cecilia Mendez v. Victor P. Marti-
nez, declaratoria de herederos. No
ha lugar la prorroga que Sc solicit
ia ell apelante para radicar la trans
cripcion de los autos.
Elena y David Barclay v. La Suce-
sion de Juan Carlos Nc Cormick ct
al, nulidad de testamento. Sc con-
cedio a los demandantes una prorro-
ga de 20 dfas contados desde el 10
de Noviembre para radicar alegatos.
Rafael Asencio v. Domingo Gar
cia, divorcio. Sc ordeno pase este ca
so al Fiscal para que en- ell termino