davidaulloa/AmericanStories huggingface dataset:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31

With the aid of rediscounts with other
Federal Reserve Banks to the extent of
$22.000.000, making the total amour
borrowed from other institutions $4s,-
100000. the Federal Reserve Bank of
New York Increased It's ratio of total
reserves to deposit and note liabilities
combined from 3S.6 per cent. to 391 PEI
cent. and its ratio Of reserves to net
deposits after deducting 40 per cent.
gold reserves against Federal Reserve
notes in circulation from 36.7 per cen /.
TO 37.9 per cent. The effect of tn
fresh borrowing from other reserv,
banks was to increase the gold holdings
by 100000 900. Member bank borrow
ings from the local Reserve Bank in
creased net more than $4,000, 900. the
member banks increasing their reserve
account s2s.500.000. Taking all the de-
velopments into considerat, on. the local
Reserve Bank neither bettered its re-
serve position nor did II grow worse
The consolidated statement of the
twelve Federal Reserve banks will be
viewed with more than ordinary inter-
est this week.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
GOSSIP OF WALL STREET.
Market Sentiment Mixed.

A curious blend of bullish and bearish
market advice was sent out from Wall
Street yesterday by brokerage houses
to their customers. Most of them are
frankly bullish on the rail stocks and
on selected industrials. Some of them
say that they wouldn't touch the present
market with the proverbial ten foot pole
until Industrial readjustment has been
completed. The comment quoted below
Is representative of wall Street opinion
at the moment. J. 8. Bache & Co. say !:
"The unsettled future Of business makes
too unstable a foundation for any at
tempts at speculation of more than tenn
porary Importance" Eastman, Dillon
& Co. declare that a sweeping Republic
can victory will go long way toward
stimulating business and restoring pub
lie confidence and, possibly. result in a
better market. Spencer Trask & Co.
express the belief that the market has
discounted the changed position of COM
merce and industry and will at the earli-
est opportunity reflect the Improvement
in business certain to occur. Wade.
Templeton & Co. say I'VE believe that
the better class of Industrial stocks at
current prices have largely discounted
known unfavorable factors and can be
safely bought for long pull investment"
w. j. Wollman & Co. think that with
the exception of the oils we do not think
the rank and file Of industrials offer at
traction to buyers. We favor the rails"
Walker Bros. declare that 1.-The stand
ard dividend paying rails can confidently
be bought on all recessions." Fl. b. Nc
Connell g. Co. say: DISCRIMINATING pur-
chases Of the rails on any setback Of a
few points ought to be attended with
profitable results"
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
Pending Financing.

II is expected that this week will
bring announcement of the conclusion
of several important pieces of financing
which, figuratively. have been on the
fire for considerable time. One OF them
probably will be the reaching of an
agreement on the Cuban financing. Cuba
wants between s75.000,000 and $780,
O0O. 600 to take care OF her present needs,
and wants that credit on one year notes
Bankers are inclined to hold out for five
year notes, but Il Is expected that an
agreement will be reached within short
time. Announcement OF financing them
by the Aluminium Company of America,
through the Guaranty Trust Company
and the Union Trust Company of Pitts
burg. to the extent of s12,000.000 Is ex-
pected TO be announced. The Haytian
Government Is seeking to place loan
in this country for the purpose Of re-
funding It's present 100000 franc OBJ
LEGATION into dollars. thus taking advan-
tage OF the prevailing low rate of francs.
But that such a loan will take the form
OF a public offering Of bonds Is regarded
al present as improbable. The amount
asked TO refund that loan VIII be
slightly less than s15,ooo,O0O.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
DIZZINESS IN STEEL
MARKET CONTINUES
Prospect of Much Activity in
Near Future Slight--Price
Policies Vary.

gpeotal Despatch 10 THE New York HERALD.
PrTrsBuRG, oct. 30.--Dullness contin-
ues to predominant the pig iron. semi
finished steel and finished steel mar
kets. and there Is very little prospect Of
much activity In the very near future.
It is considered impossible that con-
surptive requirements can have de-
creased anything like the decrease that
has occurred in market demand, and any
change in the market Is due TO sud
den change In the attitude OF buyers as
class that is characteristic and ia
mlliar. II is recognized by everybody
IN the industry that the independents
prices will decline TO Approximately
those OF the United States Steel Cor
poratione price level. but there Is a
great degree OF variance In the price
policies Of the different Independents,
some OF them being disposed TO main
tain their prices and restrict production
as necessary. but others cut prices to
the extent necessary to obtain business.
Although Il Is admitted that eventu-
ally Independent prices VIII land at the
steel Corporation level, some indepen-
dents predict that that corporation will
advance it's price, some that Il will re-
duce It's prices and few that II will
make no material change. There is a
great difference Of opinion as to the
length Of time that the price readjust-
ment Is going 10 take. steel production
IL declining In general, but the steel
Corporation continues 20 operate UP 70
tho physical limit
The enrichment " pig iron produce
ton Is becoming more noticeable than
ever. At least half n dozen furnaces In
western Pennsylvania and the Mahonlng
Valley have gone out already or will go
ont IN the next few days, according 10
decisions made this week In the ma
jority Of cases banking rather than
blowing out is resortcd TO- az the sus-
pensions and curtailments In pig iron
shipments Issued by customers came so
suddenly that the furnacemen wish to
take a little time 20 watch the situation
before committing themselves positively
The pig iron market "a absolutely dead
as far as inquiry Is concerned. Early
IN the week basic was marked down 81
a ton 20 $40. valley foundry iron down
81 10 s45. and Bessemer down 81 ton
10 S45 The decrease in the shipping
requirements Of customers from mer-
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
Gain I'm Surplus.

The Clearing House bank statement
disclosed n surplus reserve Of $13,995,-
900, a gain for the week Of $37,972,270,
that increase representing almost to the
dollar the amount of fresh borrowing
from the Federal Reserve Bank on re-
discounts. Deposit holdings showed a
continuation Of the downward trend. the
decrease for the week being $21,307 900
The falling off in deposits decreased the
amount Of reserve required and at the
same time the cash reserve In the Fed
eral Reserve Bank rose S37, 049, 000 The
contraction in loans aggregated SCI, 49,
900. At the beginning Of yesterdays
business United States deposits
amounted to $26.640,000, and withdraw
ais are expected this week. There also
Is expectation that a fresh lease of GER
tificates Of indebtedness will be author
lied.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31

italian exchange yesterday declined TO
the lowest point for which 1t has sold in
this market Checks on Milan sold at
s .03s9, Off s.0005, and In contrast to
s0372, the previous low. recorded earlier
in the week. The market In italian ex-
change was entirely without support and
most of the selling originated in foreign
sources Francs we're also weak. de-
clining to the lowest figure recorded In
eight months--s.063o for checks, off
8 .O00s from the previano close. Sterling
sold at s3.435s, off oents.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
SATURDAY,. OCT

chant furnaces Is doubtless greater than
TIE decrease In the acual rate of con-
sumption OF pig iron, although it is
noted that scarcely a steel works is
using merchant pig iron that has not
Increased materially its rate of opera
ton in the last two or three weeks As
TO foundries, their melt Is also decreas-
ing although so far the decrease does
not seem to have been very great.
Connellsville furnace coke for spot
shipment was sold for still lower prices
this week, sales occurring at $40, the
previously low price being s11. Two
weeks ago spot coke was selling at SIT.
Consequently In a little longer than a
week of business days there has been a
decline of 81, considered remarkable by
the trade. with the market declining
so rapidly, those who have occasion to
buy from time to time are wondering
how far the decline will go. To delay
purchase a day or two means a con-
siderable money saving. The coke oper-
ators that have coal shipping facilities
can hardly. turn to coal because the
coal market Is almost dead and IL is
practically impossible to sell coal. The
slump in coke has eliminated all thought
of first half contracts. and will stay SC
until some furnaces see an opportunity
to sell pig iron ahead, whereupon they
will want to get line on their proba-
Bile coke cost. There is no prospect OF
any forward buying in pig iron for
considerable time.
one independent steel maker here
opened books last week for regular Gus
toners mt 235 cents on merchant steel
bars. but this week withdrew that figure
and is quoting TO 3.25 cents. The
level OF 2.35 cents Is that maintained by
the Steel Corporation, and IL Is under.
stood that the independent which took
bookings at that figure had had some
heavy cancellations. and, to recover com.
mitments made price concession. Most
independents. however, are still quoting
325 cents base. but say that the mar.
ket Is extremely dull and that practi
cally no new business has been done II
longer than n week.
There are reports that the leading tir
plate interest will maintain Its level o.
81 base box on tin plate and Interest
is manifested as TO prices that inde
pendent makers WIN quote on first hal
business. Independents are selling stocl
items for $3.50 in car lots and for 50 II
less than car lots. Some Of them are
well committed into next year, and de
mand has become little easier. Til
mill operations are estimated Mt abou
S5 per cent OF capacity, although some
producers are working ut 80 per cent.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
VIRGINIA RAILWAY REPORTS,
surplus of Last Fiscal Year Shows
Reduction N Share.

The annual report of the Virginia
halfway and Power Company for the
fiscal year ended on June 80 shows a
surplus. after taxes. charges and depre-
citation, of $921,160. equivalent to $3.50
share earned on it's common stock
after deduction of preferred dividends
IN contrast to a surplus OF $435,332, or
$5.45 share on its common in the pre-
ceding year.
Gross returns from operations were
ys'WoOoo and operating expenses S.
ddo'ofV. making net earnings s3.7e2,-
336. Other income aggregated s1s1.
424. Taxes. interest CHARGES. deprecia-
ton, &C, reduced that amount TO 1921
100, from which no dividends were de-
Quoted leaving that amount for trans
fer to profit and loss surplus. In the
preceding year there was a deficit after
dividends OF S105,323.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
CONSOLIDATED EXCHANGE.

Price movements during last weeks
Consolidated Stock Exchange trading
were mostly downward. Losses in ac-
tive specialtles. steels. oils and equip
ments were point to seven points. In
rails the trend was Irregular, Texas
and Pacific and Southern Pacific net
ting gains OF and per cent. respec-
lively, while the balance of that group
was lower. High money rates and the
slump In foreign exchange at the end
were the principal factors for recess
siopary quotations
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
Saturdays Market.

Stock prices sloshed around irregu-
larly yesterday under the influence Of
preholiday settling UP. Here and there
extreme weakness developed and in one
or two cases stocks developed excep-
tional strength. United States Rubber,
Royal Dutch, Mexican Petroleum and
American Locomotive appeared to be
under pressure Of liquidation, while
Southern Pacific again led the rail list
to higher prices. The copper stocks
we're uniformly strong, which surprised
the Street. There were no overnight
developments to guide traders in their
commitments and the days quotations
were governed to a very large extent by
evening up sales and purchases.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
OTIS STEEL NET 1884, es7.
Report Covers Three Months
Ended on September 30.

The Otis Steel Company, reporting
yesterday for three months ended on
September 80, showed net earnings be-
fore Federal taxes OF s1.334.6s7. practi-
caliy the same earnings as those OF three
months before and in contrast to S1,Os9,-
lis in the quarter ended on March 81.
After deducting estimated Federal
taxes from the balance of earnings, az
ter ordinary taxes, charges and deprc-
citation for the nine months ended on
September 80. the surplus available for
dividends for the period was s2,591,66S,
equivalent TO more than five and half
times the requirements for the nine
months dividends on the amount OF pre-
ferred stock outstanding on Septem-
Der 80.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
BERNIE GETS 100000 LOAN.
Swiss Capital Sells Issue to Bank
ers for Public Offering.

The city of Berne. Switzerland. has
sold to speyer & Co. an issue of se,-
100000 of twenty-five year per cent.
sinking fund gold bonds, according to
an announcement made yesterday. Prin-
cipal and interest on the bonds are pay
able at the New York Office of Speyer
& Co. The bonds are to be offered early
next week by those bankers for public
subscription and. pending the formal Of
fering. no details OF the loan are to be
made public. The loan was obtained. it
was said yesterday, after prolonged me-
gotiaton and keen competition and 1t is
known that at least two other American
banking groups competed for the issue.
BERNIE, Switzerland, Oct 29.--The
Town Council has accepted an offer OF
Speyer G. Co. for a s6.000,000 loan at
s per cent, The price OF fotation will
be "a instead OF o2la which the Council
rejected last Monday.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
EXPORTS FROM NEW York.

Exports from New York yesterday:
Wheat. 15S,64O bu.;. barley, $4,000 bu.;
-four 107,1t7 sacks: beef, 125 bbls.;
bacons. 1,345,sOO lbs; grease, $4,000
lbs oatmeal. 1850 bills; oil cake,
1 .Oss,7o0 lbs; rye, 171,957 bu.; peas,
$50 bu.; cornmeal. LOO bills; beef, 100
tcs; lard, 954,450 lbs. cheese, 1890
lbs; grass seed. $50 bags; lubricating
oil, 154,150 gals.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
LONDON MONEY MARKET.

LONDON. oct. Solar silver. So Nd.
an ounce bar gold 11ss. Id. money.
per cent. Discount rates--Short bills.
81 G5M per cent three months bills.
6@6i-i6 per cent Gold premium at
Lisbon, i40.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
OPENS pnILApELPnrA OFFICE.

Charles f. Brickley q Co, members
of the New York stock Exchange. have
opened Philadelphia offices In the WIG
ener building. under the management 90
i. w. snyder. formerly OF Paine. We'd
Der & Co. =
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
MONEY AND EXCHANGE.

CANADIAN EXCHANGE.
Kew York funds In Montreal, sf05.31 pre-
MUM per 81 600 Montreal funds In New
York, sos 80 per 81 900.
EnREIGN rNcII ANGE.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31

Guaranty Trust Company will exchange NJ
Its trust department the outstanding tenn
porary Utah Power and Light Company first
cent. gold bonds. due May /. 1925, for defIn-
1.-Two bonds with coupons No l. duo on No
vember 1 and subsequently attached.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31

Irwin J. Greene has been appointed assist
ant secretary OF the Brussels office OF the
Guaranty Trust Company
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31
FINANCIAL NOTES.

Great Atlantic and Pacific Tea Company,
Inc, reports that its sales for the first seven
months OF It's fiscal year, ended on October
2, totalled si46, .T07. an increase of $k3-
0S0,5i3 compared with the preceding cor
responding period.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31

Franz Meyer an assistant cashier OF the
National Bank OF Commerce and manager OF
It's foreign department. has been appointed
second vice-president of that institution.
The bank announced the appointment OF
three new assistant cashiers-Ira w. Aldom,
William s. Graves and Eugene NJ. Prentice.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31

Guaranty Trust Company announces that
interim certificates Nos. 25b. 37B and 3T7 for
81 900 each, Province OF Manitoba per cent.
gold debenture bonds, due In 1923, recently
reported lost. have been found.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31

White Weld & Co. announce that tho
S., OO0, 900 OF Pfister q vogel Leather Com
pany ten year 7 per cent convertible bonds
recently offered, have been sold.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31

Carpenter, Caffry Co, members OF the
New York Stock Exchange, viii open their
branch office. $50 Fifth avenue, on Tuesday
evening to receive election returns.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31

Joseph A. Flynn, formerly vice. president
and In executive charge Of the New York
office OF the Fidelity and Deposit Company
and John n Harrison, formerly associated
with the Fidelity and Deposit Company, have
formed a partnership as Flynn Harrison
and have opened an office In 40 Cedar street.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-31

Brown Bros 4 Co. are distributing book
let entitled Long Term Railroad Bonds"
The Washington herald., 1920-10-10

II make myself useful we'll doing you
laugh said the grasshopPe to Uncle Wgg With my long legs
kick butter from the dish the slices bread for Nurse Jan
The bunny said that would be very nice while the gashoppr
helping the muSka lady all sudden Tommy Uncle
Wgg by the and led him another stump table Look
eating the crackeP said the pussy "Shan catch hm
The bunny shook his head 'Le the party
The Washington herald., 1920-10-10

Uncle Wiggly told Nurse Jane special little stump
table for the Sugar and Squg bugs And when this had been done
all of sudden Arahela Chick the girl led Uncle Wggy
the stump where she going eat Oh, Uncle Wigg look
what's in the butter cucked Arabela "Ha! Ha! laughed
Uncle Wggiy again That only Jolly grashopper
party You very welcome Nj Grasshopps After party
you can do some jumping tricks for US
The Washington herald., 1920-10-10

We'll Nurse Jane all ready" asked Uncle Wiggy one
day he loaded his automobile with good things eat ard started
for the woodland This the day to have party for the
animal children Nurse Jane climbed up beside the bunny rabbit
gentleman 81 hope DOESN'T rain said She But n take my
Paraso anyhow Uncle Wgg said he hoped she would not need
it. and away they Say there's enough here keep
from starving for ten years said S4uggIe Bug the other
The Washington herald., 1920-10-10

Excuse for nbbng the picnic crackers sausaked
the little mogs who had come the party without being invited
But IN wait table you'll let me- Uncle Wggly told the
boy help Nurse Jane So the moue boy did putting
crackers the plates Jackie Bow Wow gave loud bark and ced
"Oh Uncle Wggy Look at the mud turtle taking hard boiled
eggsP The turtle was tossing them the air jugger in the
circus W they fall and break harm done said Uncle Wggy
The Washington herald., 1920-10-10

Hal Hal! laughed Uncle Wiggly, when Susie gave him the
sugar bowl You shouldn't be afraid Susie dear Let's
what that's buzzng the stuff The bunny off the
and out popped big jolly bug Excuse coming
to party without invitation Uncle Wggy buzzed the bug
But shut in the bowl mistake and couldn't get OUT
Uncle Wiggly laughed and said You stay
with your friends the Squgge Bugs Make yourself at home
The Washington herald., 1920-10-10

"Let What baye you DO help ~ spoke Nurse
sa9s Tie mud turtle crawea to her JINGLE Wiggy
had sent him. "Oh, know You slow and careful
pass the sggsp cried lady she put platefqn
the turtles back Just then the guinea pig g led Upas Wggy to
squeeze some pickles out Of upes Wiggyf The bunny
gentleman winkled bis " help the snake hssed
The Washington herald., 1920-10-10

What snake do to help -? asked BTigheyes Uncle
Wgg "r make myself into swing for Nurse Jane" said the
snake which he did And then snake friend of his cawed
the party and stretched himself between
tight Jackie Bow Wow and the animal to walk
DO everybody had good time the
land party and Nurse Jane said she had enjoyed swing
before And there plenty for everybody to eat
The Seward gateway daily edition, and the Alaska weekly post., 1920-03-23
NEW SEWARD RESTAURANT
 TO BE KNOWN AS MARATHON

Stewards new restaurant, wnicl will 6e opened possibly on Thursday, will be known as the Marathon Cate. Gabriel Santo and Tom Rally, the proprietors, announced through an ad- vcrtiSement in the Gateway last week. that ten dollar meal ticket would be given to the party presenting a name which might be selected for the name of the restaurant. Advertising pays for several hundred names were sub- mitted. Finally five names were pull cd out and two of Stewards prominent ladies were named a committee to de eide upon the name. Marathon wor, being the unanimous choice.
The Seward gateway daily edition, and the Alaska weekly post., 1920-03-23
ALAMEDA AT CORDOVA

Steamer Alameda was due to al rive at Cordova at 3:30 o'clock this afternoon according to radio advices. Former adviceS were that the Alame- da was to sail from Cordova at S:So o'clock for Seward
The Seward gateway daily edition, and the Alaska weekly post., 1920-03-23
" F. \ T II FIR RET @ RT

The following iS the w.;,'cr npo' for the 2I hours cmiing M o'c'o"' this morning:-
 SEWARD 20. Clear, Calm. Anchorage 22, Cloudy, Calm. Chickaloon IS, Cloudy, Calm. Matanuska 26, Showing, Calm. Talkectna 27, Cloudy, Calm. Dcadhorse IS, Showing East. Indian River 20, Showing, Calm. Hurricane i6, Showing, Calm. Sullivans l2, Showing, Calm. Summit &, Showing, North. Carlsons 10, Showing, Calm.
The Seward gateway daily edition, and the Alaska weekly post., 1920-03-23
SiLNLA'S
FOR SALE Water front prope" ty for Industrial purposes, in lots 10 suit. Apply J. .. Holman, owner. A l9
SPECIAL MEETING OF
 SEWARD'S WOMAN CLUB
 TO BE HELD TOMORROW

There will be special meeting Ct tn" Woman'S Club of Seward tomor- E,w qftcrnoon at ? o'clock at the "cSi- d.nrr c. Mrs. Erich Lucas. All memb- c.,s ui tRr club are urged to attend
The Seward gateway daily edition, and the Alaska weekly post., 1920-03-23

Jack Howell of Hot Springs and Dr. Sutherland of Fairbanks, have bought Jack Hamilton's mine on Moose CreeS in the Kantishna-
The Seward gateway daily edition, and the Alaska weekly post., 1920-03-23
TRAIN OUT TOMORROW

The scheduled train for Anchorage VII get away on time tomorrcw morning at S o'clock.
The Seward gateway daily edition, and the Alaska weekly post., 1920-03-23
mll,InlnuIIIIllmIiInIiInuIIu,IIlinliI
Andy's express meets all trains and steamers. Phone li3.
iIMuiIIIlIlIiiiiliInilniilBIiIiiii

Herring fish bait for sale at Hali- bui Cove. price three cents pound.
 MI6.