davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Firmer Tone Noted
I'm Cotton Market
On Export Buying
Japanese Interests Believed
to Have Bought 20, 900
to $4,000 Bales of New
Crop; Weather Favorable

While the cotton market remained
nervous and unsettled, there was a
somewhat smaller volume of business
yesterday and the undertone Of prices
was steader. This was attributed more
largely to the stronger technical posi-
ton and covering by shorts, than to
any change Of sentiment with reference
to general trade conditions, and the
bulges met considerable selling for
Southern account.
Near months were relatively firm
during the entire day, with October
contracts selling up from 1858 to 31.30,
compared with 3084 at the close Of
Tuesday, and closing at 31.O3. The
general list closed steady, net . points
higher to 25 points lower.
The feature Of the early trading was
active buying of both October and
December by brokers with Japanese
trade connections. 1t was estimated
that their purchases of these two
months aggregated between 10000 and
$4,000 bales, while there was also a
good demand for the near positions
from Liverpool. AS soon as this initial
demand had been supplied, however,
the market turned weak owing to the
continued weakness Of exchange, re-
ports of increased curtailment in the
manufacture of clothing, favorable
weather in the South and Southern
selling. The break carried active
months about 20 to AZ points net lower,
January and later deliveries making
new low ground for the movement, but
there were Omparatively few near
month contracts for sale after the
early buying had been supplied and the
market was firmer during the after
noon
The weekly report Of the Weather
Bureau made a favorable showing, plac-
ing less emphasis upon boil weevil
damage and low night temperatures
than had been expected. 1t was pointed
out that this was the sixth favorable
weekly report in succession and indi-
Gated further Improvement in the
crop since the government report. Re
ports from Manchester indicated an
increased demand for Goods from India.
but traders found no Improvement in
the news from domestic goods trade,
and the break in foreign exchange has
rather confused sentiment as to pros
pcctive export demand.
The failure Of the market to respond
more Importantly to the bearish
weekly report of the Weather Bureau
was taken by some traders as sug-
costing that bearish features had been
pretty we'll discounted.
Southern spot markets as officially
reported were unchanged to $50 points
lower, with midding quotations rang
ing from $500 to 1880, as compared
with 3l.o3, the closing quotation for
October futures.
The local market for spot cotton
was quiet and unchanged at 1870 for
middling upland; no sales were re-
ported
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Book Value of Common Shares

Question-Kindly give me whatever In
fornntion you might have IN regard TO
am stakeholder. but in the last couple
of years | did not receive any annual re
ports from its officers. Please also explain
how to determine automatically the value
OF n share Of stock in any ordinary corpo-
ration. Illustrate your operation by an
example, Il. G. l..
Answer $500 The Mascot Copper Com
pany's mine was leased in 1917 to the
American Smelling and Refining Com
pany, upon what terms we do not know.
The company has lands, equipment and
q fifteen mile railroad near Wilcox,
Ariz, so there should be some value
for the $10000,000 outstanding common
stock. We suggest that you write to
the company, asking what the terms
Of the lease were and whether stock
holders can expect return. To find
the book value of share of stock in
a corporation add the current assets
to the fixed assets. From this total
subtract intangible assets like good
viii, patents, etc; also current liabil-
tiles, funded debt and preferred stocks
Divide the remainder, if any, by the
number of shares of common and the
result is the book value per share. This
does not mean that share is worth
that much; for the element of earning
power enters here. You don't care how
much the book value is if you get a
small return or nothing. The book
value of United States Steel common
is more than $40; it sells at less than
par partly because the dividend now
is only s. share. Taking the Amer
lean Can Company's 1919 report for an
example: Total assets were $135, 076,
125 Assuming that the entire common
stock issue, Sal ,233,3O0. represents in
tangible assets, subtract that. also
SAL ,233,30O preferred stock, $1O,791 800
debcnture bonds and $9,769 ,O1O con-
tingent funds; also take out $10,218,-
72O current liabilities. These items all
would come ahead of the common stock
in case of liquidation. The result is
$7G64 share on the 412,333 com
mon shares. With the tangible assets
left in it would be S176.64.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
CASTOR, Williams
& WI es4sllol'c Shows
Deficit for Near
Provision for Losses Since
Inception OF Company
and Unfavoral,Ic Foreign
Exchange Cause Decline

Making allowances for wartime
,o..o. oa..a..;on.,.1 H.. 49,, ,,.,e.,.o,. ~.
'o''eS 'e''''''0''V'' ny '"e U''i"' o'@''e
course o. iorelgn exchanges caused a
deficit for the year ended April 80,
Cae+or V-.llio,o e. Nri.,,,o,.o
nonnced voetorday Tho snnuoI reno,t
showed o. defc;t. - %fnlf lao a.. c io1r
pared with net income in me n W.
Wear Of ST ~ ,4o9.
The profit and loss deficit WIS nlaccd
at S4.95l.l9G. but it was oxnlained that
this figure rcprescnted the result after
providing for all previously unaeter-
mined losses incurred from the begin
ming of the company's business to the
end of the fiscal year, among which
We're those resulting from unsati 81 fac
tory conditions during the war, espc-
cially in Russia, and the unfavorable
course of foreign exchange. Allowances
were made also for losses which might
be expected as a result Of further re
adjustment from a war to peace basis
of operation.
The consolidated income account Of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Beginning of a Great
Constructive Era

With the railroads coming
into their own, signalized by.
the recent increase in freight
and passenger rates and the
fixing of a wage rate for en-
ployes commensurate with
the cost Of living. it may
fairly be felt that an era Of
rehabilitation has begun that
will have telling effect upon
the vital structure Of the
Commercial, industrial and
financial life Of the country
We have prepared a circular
outlining these conditions
among railroad stocks, such
as Atchison, with it's long
record Of prosperity and divi-
dend paying; Pennsylvania,
with its continuously paid
dividends for 90 years, and
Chesapeake & Ohio, Southern
Ra;lway, Pere Marquette and
New York, New Haven &
Hartford. This circular, to-
gether with the current mum
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Old Corn Crop Higher:
No,r Sells rt DecEine

There was irregularity in the corn
market as the old cro-) was strength
ened by leht receipts and a fair cash
inquiry. while the new crop position
was weakened by rain news. the
whole market closing &c higher to
2i4c net lower. Early reports Of dry
weather over the belt were followed
by talk Of showers in Kansas and
Iowa, with predictions Of showers gen
orally throughout the belt
The light movement caused frmness
in cash corn and it was said that far
mers show a holding tendency on both
corn and oats. The Price Current
report was bearish The trend Of
crop reports thus far received is to
forecast government yield around
8 900 900 600 bushels. 1t was reported
that warehouse receipts for 25O,0
bushels of corn for shipment East via
the lake, had been cancelled.
Locally the cash market was steady
with No yellow quoted at Sl.65l2
cost. and freight New York ten days
shipment.
Yesterdays Previous Year
No. : yeiIow .....si.s5la sIs51s s354iA
Chicago:
September 49,. 1.s24 14a 174,s
December ..--.... 1.2as4 las 1928.
oats-Bccause Of the car situation. re
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Tax Exemption on Libcrtys

Question - DO you consider America
,pti"n OIL per cent dcbenture bonds due
May J. 1881, secure to principal and
Interest? DO Liberty AZ and Victory -.
bonds come under the income tax
Answer-Amcrican Cotton Oil de-
bentures 1881, are entitled to very
fair rating. They are not secured by
mortgage, yet as there is no mortgage
on the property the position of this
issue IS good. Liberty and Victory
bonds are exempt from the normal in
como 10y
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Considers Exchanging Bonds

Question: own a 900 Armour 6 per
cent bond, due 1922. | thought | would
sell it and invest in some long term bond.
Would you consider Wilson first per
cent, due 1871. good exchange? II not.
viii you kindly name some rather good
boud a l..
Answer - The Wilson & Co. first
mortgage bond is well secured, and
earnings are ample to care for it MANY
times over. The proposed exchange
looks attractive.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Investment
Information

Questions Of general interest to
ancestors wiH DO dnstOered in this
column, IN aohich case only initials
,oiN be used. Others aUiH be an
socred BY mail. Address all in
quiries, nclosing q stamped, 3D.
dressed cnpelope. to Financial Editor.
The Tribune. 154 Nassau Street, New
York CITY.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Chance for Some Excitement

Question--I own 100 shares Cities Ser
vice preferred at g. They now offer
ing series per cent deb"ntures, due
January /. 1866, each $1,000. principal
amount convertible on January |, 1921,
INTO ninc shares Cities Service preferred
stock and one share Cities Service com
mon stock, together with the accumulated
cash ana stock dividends one share
common stock from January |, 1919, to
time dcbentures are converted. Their pre-
ferred stock is quoted to-day at &C eX-
dividend common stock from january !.
1919, to time debentures are converted.
Their preferred stock is quoted to-day at
G6 eX-dividend, common 1922, and the Z
per cent series c at "a. Would you ad-
wise selling out my preferred and taking
your opinion Of National orr. O.
Answer-The Cities Service PROPOSE
ton regarding the conversion Of their
debenturcs is one which should appeal
to those who desire to speculate, for it
must be obvious that no one can tell
at what prices the two issues of stocks
viii be during the next year. This is
particularly true of the common issue.
If this convertible privilege appeals to
you We should think the change might
afford you slightly more excitement
than holding the preferred stocks. Ma
tional Oil Company appears to be a
we'll managed concern. 1t is making
considerable progress and earnings are
SAID to be satisfactory.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05

- Hf04NNay. Now N0rl-
COAiMpN DIVIDEND SO IT,
New ork. August sfr. lQ2e
The Board of Directors OF NlI,ES RE-
AiENT-POND COMPANY has this dav de-
clared dividend OF TWO PER CENT
upon the COMMON STOCK OF the Com
pany. payable September Goth. 1870 to
gockholders Of record at 3 +. NJ Septen-
ber LIST, 1920.
Tts Transfer Books Will not DO closed.
JOHN h CORNELL. Treasurer
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
American La France Comnauy

Operating profit of the American La
France Fire Engine Company for the
three months ended June SO, accord
ing to financial statement issued
yesterday, was $275.223l. and a net in
come before deductions for taxes was
sal 1867
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
American Exchange Bank Stock

cuestion-Please give your opinion of
keeping American Exchange National
Hanl1 stock. also American Exchange So
eurities CORPORATION shares For what
price is tn" latter selling Also adVisa-
huity of Keeping ten shares OF Erie first
preferred purchased years ago, at Co
G.. H. ".
Answer The American Exchange
National Bank of New York is we'll
managed. prosperous institution. We
see no reason in disposing of your
holdings The American Exchange
Securities Corporation 8 per cent pre-
ferred stock is quoted about 107 bid,
offered at l12. We regard it as very
fair investment. The B stock Of the
latter corporation may not be sold
unless you also dispose of your bank
stock. While your loss in Erie first
preferred stock is considerable, we see
no good reason for selling at present
prices. Having but ten shares you
can probably afford to speculate on it
at this level.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
SECURITIES OFFERED AND WANTED

Abbot Attorney Dairy Pfd.
Akron, Canton & Y. IS, 1890
Borden's Co. Com. & Pfd.
Central Sugar
Childs Restaurant Com. & Pfd.
Continental Guaranty Corp.
Crescent Pipe Line
E. w. Bliss Conn.
Int'l Ct. Northern so nts., 1914
Lackawanna Steel SIS, 1923
Mere. Strs. Co., Inc, BIDS. & Stk.
Mills & Gibbs Properties Nts.
No. Ontario L. & P. Com. & Pfd.
Sheffield Go. go Pfd.
Standard Gas & Elec. IS, 1925
Standard Oil Of Indiana
Texas Central r. K. SIS, 1923
Tol., Peoria & West. As, 1917
Charles E. Doyle & Co.
80 Broad St, N. Y. Tel. Broad 7lo6-7-s-s
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Miscellaneous Markets
Public Utility Securities
CtanIra

Rid. Asked
American Light & Trac com. ..1l5 40
do pr ............. 80 as
Adirondack Flee Power conn.,. - IS
American Gas 4 Electric com. 81 1o2
do pf Observation-Disclosures. 34H 81
American Power & Light com. 4 50
do IF ......, Go 70
American Public Utilities com. 10
Amer me \ waterwcrNs Electric 49,.
do list pf .......... II A.
Carolina Power & Light com Is so
Cities Service coM...........o92 800
do pf. observation-disclosures. So CT
do bankers certificates $500. SO "a
do per cent series b. 1866. i3s
do per cent. series c. 1866. % 97
Colorado Power com .,........ II
comweaith rr Ry & 1. com. is ~
Denver n Gas s Electric gen S.. IS S.
Electric Bond Il shares pf..,. so So
Empire District Electric pf. 55 65
Federal Light & Traction com. 10
Gas & Electric Securities com. $50 $50
do pr OBSERVATION-DISCLOSURES. ca a
Northern Ohio Electric CON-. 20
do pt Observation-Disclosures. 40
Northern Ontario 1t & Pow com. 10 "a
Northern states Power COM. 45
Pacinc Gas & Electric pf IS sick
Republic Ky 1t Co conn.,. 10
e, do pit .;.........: ;..,...... S2 &c
Southern California Edison com So IS
standard Gas K Electric com. IL IA
Tennessee ny. 1T & power com m. u
United Light X Railways COM. 1s 90
90 ISL pr ''.....-............ 30 %
western Power com. .......... 10 q
GO III 20 "a
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Cottcnsecel Oil

The market WAS quite steady during the
day in. sympathy With lard and grain and
on little commission house buying Tho
movement OF prices. however, was snlau
and at the close They ranged from 4
of 1900 barrels
The range Of prices follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Trust and Surety Companie.
Standard Oil Stocks

iSee New York Title and Mortgage.
llnciudes American Trust Compan
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-05
Sugar Stocks
Tobacco Stocks
Chemical StOck9

"Ex dividend 500.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25
DOCTORS favor
new TASTELESS
CASTOR OIL
New Process Makes Cas-
for Oil Absolutely
TaSteleSS

Doctors have always prescribed
castor oil when real laxative Is
much trouble 1t is to get children
to take it. There need be no more
trouble, tor doctors are now rec.
ommending Kellogg's Tasteless
Castor OH from which absolutely
all nauseating taste has been re
moved. Children take it readily.
They need not even know it is cas-
tor oil, THIS spIenulu new torln
Of the good old family remedy is
the result Of remarkable process
nerfected by the chemists OF Spen.
Ger Kellogg & Sons, Inc. In strength
and purity Kellogg's Tasteless Cas-
tor OH is exactly the same as the
old.fashioned disagreeable kind.
Nothing has been removed but
the taste. Do not accept substi.
tutes, IL you want a really tasteless
castor oil. At all good druggists.
TWO sizes, 35c and 65c-Adv.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25
Library Committee
Will Meet Monda

The committee organized recent
ly for the purpose OF devistng plans
whereby FaIrmont and Marion
county may secure and maintain
a public library will hold a meet
ing on Monday evening at 1895
O'clock in the Marion county law
library rooms in the court house
Attorneys Harry Shaw and Ken
meth w. Barnes have been appoint.
ed representative on the commit
tee from the Bar association. Re-
representatives. has been named from
eight bodies OF the city and the
committee consists Of 80 members.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25

OBSERVATION-DISCLOSURES
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25
Oily Spark Plugs.

Isthe:spark plugs are constantly
oii.Boaked, this indicates 4eaky
tfsfon rings. Or 1t may be .caus.
"a l,y the pistons pumping oil In
fhis scase,s the vacuum produced
when 1.-The engine Is trolled down,
sdrayfE un' oil from the crankcase
past the piston rings. 1t is sign
of ia overdose Of oil in the crank
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25
can6e Of caIloplno Motor

Owners Of cars with small-bore
5siS.cyIinder engines sometimes
2finti II hard to obtain proper idling.
iThe motor rolls instead. This
trouble is usually caused when, the
spaTlS plug gaps are set too close.
4 II Sin be cured by increasing the
rang aud cleaning the plugs.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25
rho WheeIa WobbIe

- Won find tire wears faster
tfah the rest OF the car, test the
vglifiel 10 see IL 1t is properly align.
"a az ub ssthe car at that emo
and Bpm thetwheel to see II It runs
true, Or borrow a netgbor's car
ana drive BEND your own to see II
81 wheel wobbles. Wobbly wheels
"a IN tires very quickly.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25
II the Brakes Fall.

F.I9N

Won are eoasting down hill and
Hes fail, the thing to do Is
N of the switch and let in
8intch. This would check the
the aengtne would nave no
sss stroke to propel 1t ana the
sisfjnfpression stroke would meet a
Iea t6auce in pressure.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25
ono Cause Of Noise

The noise in the motor can Of
4sn "a reduced considerably by in
MISUNDERSTANDING screws in the
valr l8ters. These points are sub.
3ee I'd Stos considerable wear and
on y wear down to such un extent
Ma ha Iaiyegtiming is affected.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25

oil Grooves

on Grooves in bearings should be
chi V-shaped. II cut U.shaped,
moi grooves forming sharp an
~ with the shaft would tend 70
sefape or wipe oil from the. shaft.
Iiie angle Of the V-cut avoids this
ana permits proper distribution OF
de OIL,
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25

Selling gasoline on Sunday is
no violation Of the blue laws,
ruled Magistrate Wright, sitting
in the police court at Huntington
". Va. Gasoline Is as necessary
to an automobile on Sunday
hay, corn or oats Is TO q morse OF
the same day, ruled the magi
trata
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25

Talking machines are still bar
red from the homes Of the mem.
bers Of the Old Order Branch OF
the Brethren Church, at Logans.
port, Ind. But the automobile Is
accepted. Some members sought
to obtain an order from the coun
eli forbidding these devil ma
chimes" but they were in tho
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25

and IS others turning out trucks.
OF the population OF 996.7S6, &C
cording TO the latest census, 55V.'
600 are employed In some brancn
Of the auto industry.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-09-25
L5TO TOPICS

RAILROAD trains have been taken
Oh arsmRil road In Illinois and mo-
tor trucks substituted. The trucks
are fIEtad with thanked rims to fit
tlfs racks, sandboxes and auto.
matte couplers. Each carries 80
naSgengers and hauls a trailer for
sfraiRht, It is said the truck makes
the S2,nlile run on six gallon OF
gasoline with full load.
sIn the last eight years, Mexico
mas sfaKSns q total of 11,146 pas
sena1sr cars and 1880 trucks from
the Bnteed States. That country
"a One OF the foremost Latin.Amer-
lean customers for automobiles, ex.
ports this year being exceeded
only by those to Cuba, Argentina
and sTa1Il
Second to the United States in
Ana export Of automobiles is Italy,
which heretofore had not been
nrominant as an automobile
iianhfact curing country. But while
the automobile plants Of the allied
countries wore being used for war
purposes, the Italian factories kept
RIGHT on at their original work. So
that now that country Is ready TO
export half OF her output. The F.
\ A. 7, company alone is exporting
5two.thirds Of It's production.
Before Detroit got its name as
tha greatest automobile city IN
Ire country, 1t was stove build
ing center. There are "a automo.
sBiie factories In the city and near
by towns, two more about to start
Evening journal., 1920-10-12
HOSPITAL FRIENDS AT
AT SUPPER NEXT

That Kent county Will be well rep
resented at the supper 10 be held for
the Physicians and Surgeons Hos
pital bazaar workers IN the Hotel du-
Pont ball room at o'clock tomorrow
night Is indicated by a letter which
the chairman. Mrs. Albert Robin has
received from Mrs. Marshall C. Derby.
OF Woodside, who Is In charge OF the
work In Kent.
Mrs. Derby has assisting her. In the
hospital work, several well known
Kent county women including Miss
Frances Slaymaker, OF Wyoming.
Mrs. Emma piersOn. OF ChCswold ,
Mrs. W. NJ. Dickson. OF WOOdsldo
Mrs =. C.. DALEY. OF Hartley: Mrs. G..
b. Hope, OF Dover; Miss Emily Spru-
ance. of Smyrna; Mrs. ]. II. Rosa, of
Milford and Mrs. C. ID. Clark. OF
Smyrna
Not satisfied with doing what they
can for the cause before the supper
tomorrow night. the women OF Kent
are sim engaged In soliciting gifts
OF fancy work, canned goods. etc. for
the Christmas sale that Is 10 be held
a few weeks before Christmas 10 dis
pose OF the articles left from The ha-