davidaulloa/AmericanStories huggingface dataset:
Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-05-23
PBL|C UTILITY COM PAN|Es MUST
CREATE GOOD WILL AMONG PEOPLE
THEY SERVE, BANKER TELLSMEET|NG

NEW YORK. May 22.-The pub
lie utility companies Of America,
struggling between the upper mill
stone OF regulation and the neither
milestone OF rising cCSts Ot opera
tion." can attract new capital and
offer q safe investment only by Great
INK a genuine and effective interest
among their customers and the peo-
pie In the territories they serve,
George l.. Burr. Manager OF the
Bond Department of the Guaranty
Trust Company OF New York. told
members Of the Southwestern Elec-
inical and Gas Association al their
annual convention In Galveston. re
Gently
Public utilities must be regarded
not as outsiders hut as integral parts
Of their communities which must be
fostered and developed as much ms
any other industry. Mr. Burr said.
He advocated the sale of the securi-
ties OF public utility companies
among their customers, who then
become owners cr creditors. depend
ing on whether they purchase stocks
or bonds. They will then he directly
and personally interested parties
both from the standpoint of the com
munity and OF the companies. and
outside investors will be attracted 10y
the assurance that the companies
will raccvc the same consideration
rs the other home industries In the
territory served.
DO Net Have support
Mr.. burr said IN part: "lt Is gen
orally felt among investors that
many pullic utility companies have
not had the public support. which
Is due to them us honestly and ably
managed public servants and that
the problems OF these companies and
the lust deserts OF their owners and
creditors have not been appreciated
BY the public bodies. II Is therefore
feared by many that. as u result OF
the combination Of these circum-
stances and the rising costs of opera
iioL. financial disaster ior many
companies may be Just around the
corner In the shape Of possible dis
appearance Of met after taxes.
Compare. on any such basis. the
ease OF the public utilities with the
flexible earning power aud favorable
current asset position Of an indus
trial company and Il is not difficult
TO understand why Il Is almost i'm
possible today To finance any but ia,
exceptionally fortunate public u,ili
ties. do not wish To paint too black
n picture but ! would be- negleciine
my duty II | did not presen, tn you
quite frankly the point Of view al
the investing public Tor whose funds
your companies must sooner or later
become bidders.
What the Public Unity Companies
Must Offer
ION the other baud. Il Is obvious
Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-05-23

that. In order 90 enable the public
utilities 10 expand their facilities "a
meet the requirements Of their com
munitirs. they must be In a posi-
ton Ia attract new capital. hut new
capital cannot be- obtained Tor any
enterprise which has not sufficient
credit Ia attract such capital from
investment In other undertakings. To
state the matter somewhat different
ly-lhc investing public Is no longer
in the position OF purchaser of the
securities Of your companies. The
companies are In the position Of pur-
chBscrs and are In the market for
free investment money which has
the whole world for its field what
must Your companies offer In order
To buy the use OF that money?
First. they must. of course. offer
the prevailing rate Of return as de-
,ermined by the demand for money
and It's supply This rate will fluctu-
ate "a a result ~ many causes but
whatever Il Is |. must be met or
those who have free funds will In
vest them In other enterprises which
are willing 10 bid what the investor
thinks his money l. worth.
Must he Attractive
second. IN order To meet the com
petition for money from lrdustrlals,
your companies must offer something
that will marc ~ attractive back
ground for investment as the liquid
statements ~ such companies and
their ability to meet rising costs by
iucr'' sod prices FOR their rroduc,'.
That the characteristics Of indus
trial Investments are not necessarily
the only basis upon which money
can be- obtained Is shown hy the sale
Of foreign government obligations
and the lords NJ our own states and
municipalities and Of some Of our
public utilities. I believe that u
the investor can be- shown tina, a
public utility obligation will he paid.
principal aud interest. and that there
will continue To be- u good market
Tor Il. he will buy Il. hut he has
thfU UldNN UfiNN lNNH'H W wv" wv
of investment and has very properly
grown Ia be- u discriminating per-
son Investment bankers. In protect
INK his interests as one OF their Gus
toners. have cXertcd every effort In
help him In his powers Of discrimi-
nation. hut also they have always
been and still are equally ready Ia
assist the public utility companies
on any basis that will be- fair "a
tt"'r clients.
n Is not necessary Tor Us at this
time To consider the details Of q
company's corporate structure, the
proportion of is debt Ia It's total
capitalization or the ratio OF It's
earnings t. It's fixed charges. Hut
would like To call attention, as en-
phatically as am able. to the fact
that the gates To new capital are
Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-05-23

reimbursement In economic matters and
President Cullinan ~ very DESTROYS 81
having q fun meeting to discuss thosc
THINGS which this organization can and
ihnuld dn In this period To assist and
protect the business IT Texas. says MIR
George IN issuing the call we are -.
pccinlly anxious to encourage agricul'
mrnl production and lessen the alarm.
ing ,x"ins from the farm and solve
the farm labor situationr
Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-05-23
STATE MEETING CALLED
TO DISCUSS ECONOMIC
AND FARMERS PROBLEMS

IAi.LAS. icXa. May - - n hund
,i,rtors o. %, TcA.s Chamber Of
ttri =. = .'ui.Htr T., Ven IRnirs u
Cui.m cree will l.r,t in Daras MAJ -.
and discuss the present economic AMI
f,rm problem facing T,yns.
The iarcting mas been called ~ ines.
id,nt Z. 3 Cullinan Though James y.
George. waco president and r.fcrl
manager at the chamber.
Texas hike nil other sections q IN"
nntiun h undoubtedly facing a serious
Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-05-23

individuals themselves There Is pro-
baby nn way IN which II can be- done
more effectively than by the sale OF
the companys securities among its
customers. w,o then become either
owners or creditors. depending upon
whether they buy It's stock or IT,
bonds they will then be directly and
personally interested parties both
from the standpoint of the commun-
ny ana of the company and there
fore 10, position To scc both sides
ot the situation. Il Is not necessary
that u compiny's requirements be-
financed rh,ir',N IN this manner. hut
II IL IN many rae'F essential that
there be- on the part Of the com
munijv served q sufficiently large
good faith Investment In lis stock and
debt Ia assure out side Investors that
the company will receive the same
consideration rs the other home in.
uusiries in the territory Witch u
serves. tn. investor will ash to be-
assured of such consideration for
his property. u II the least a. which
he l. entitled n Il more important
than the renewal of franchise or
the winnin gof a rate ease II can b.
not only the salvation OF the indus
try hut also the cornerstone OF tho
development OF many communities.
Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-05-23
Iinunr Issue Holds Interest.

Interest is bccnmng ke"nly aroused
In the probable action ~ the Republic
can convention on the liquor question.
Nonc vi the republican aspirants has
~ vet vmccd his sentiments. General
~. Il Is believed Johnson and Hoover
favor liquors ol light alcoholic con
tent
Both the "wcta' and the "drys" ara
eagerly awaiting the opinion of the
supreme Court ih the cases In which
the conStituiionality uf the amendment
itself aud If the oNlsl'ad enforcement
act are being attacked The acton oi
both conventions will undoubtedly
hinge largely upo ntho courts dictun
la these acscs,
On the Democratic side the breach
between the "wcts" ana "drys" IL wii
cning. William 4 bryan has issued q
statement practically branding Gov
James H. Cux. II ohio. and national
chairman Homer $. Cummings as
VETS" The Democratic scrap ovcI
the liquor question IN certain 10 be bit
ter. with present Indications pointing
toward the adoption OF a beer and light
wine plank.
situation Unhappy.
The Democratic situation with refer
cncc to the League ot Nations II ale
rather unhappy az the presidents d.
ircs In this respect are likely To meet
with considerable opusition. likewise L..
by Bryan Hut II Is believed the Prcsi
dents ideas will prevail. and In this
connection there IL some talk of Seer
tlry ~ State h1.nhridgc Colby u"
coming the PARTY nominee. True. h.
has only been an ayowrd Democrat foi
/ -four years. ON the other hand h. has
been distinctly loyal to the President
| be- IN thorough harmony with Mr.. Wi
un's ideas ON foreign affairs and 4
! strong with the progrcssiVcs. lie 10 d
man II great a., MY and would be- M
/ effective clmpligncr h~vausc 81 his
l keen mind and urptorlral powers IT.
I spoke In Chicago within the past wceE
/ before the Chicago lar ssociatiun. and
/ hi. speech. which dealt largely viii
the nations foreign problems. create.
Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-05-23

virtually closed to public utility com
panies whose customers and the PEG.
pie In the territories which they
serve do not take an intelligent and
effective interest In them hut regard
them a. outsiders and not as integral
parts of their communities which
must be fostered and developed as
much MS any other industry.
ION no basis. except that of effec
tive plhlc interest. Is capital which
has been lcgitimatcly invested In
public utilities safe. and unless the
capital which has been previously in.
vested H. safe. no more will be- forth
coming rhr companies cannot he
liquidated and moved away. they
must he operated. and they cannot
be- operated IN enemy territory IN
such u way as To conserve the capital
which mas been invested In them
Nor cab y community tread It's pub
lie utility companies under foot and
disregard their just claims and at
the came time grow aud develop 10
the extent to which Il Is Justly en-
titled. any more than could the cot
ton mills cf this country continue
to operate IL they refused IN pay the
planter Tor his crop.
I.orai sale of Securities
Just MS nc one industry can BE-
divorced from other Industries, no
public utility can be forever separat-
ed and treated apart from the cont
munity which Il serves. The two
must stand or fall together 4 street
railway whose development Is throt-
/ tied by rigid rate structure cannot
aid IN the opening up of new resi-
. dental districts without which rents
will inevitably rise In the territory al
ready served. 4 lighting company
/ whose net after taxes Is not euffi
cient TO appeal 90 additional CAPT
tai cannot give the service which
attracts new industries to whose own
ors and employees the retail stores
; sell their merchandise. Conversely
YOU cannot have growing utility
serving u district which mas ceased
to develop. and no competently man
/ aged utility will lag behind In .
: growing territory.
ION what basis can the companies
and the communities which they
serve he brought closer together II
such way tina, the intelligent ant
effective interest oi the individual
people in the territories served cat
ne enlisted by sharing with tax
! .ng districts the income above q Ger
tain rate No. Such an arrangement
Is correct In theory hut not IN prac
iicc because Il does not bring th'
question close enough home To th'
Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-05-23

Edward Granville Theodore. Pre-
mler % Queensland, Australia. has
been sent 20 his country by his Gov
eminent 10 inspect the iron and steel
industries and then 20 proceed 10
England for the purpose OF interest
irg capital In these industries. Aus
tralia. ne says offers virgin field TO
American capital. Australia with
out effort. could absorb the sams
population In the next nifty years
that the United states did In the past
half century and can offcr the same
opportunities a. this country Gid at
that time.
Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-05-23
I.nMdrn Camp Confident.

Iowdcn Camp Confident.
Tha l.uwd,n oimp appears To- possess
hr mort real confidence. The lllino's
governor viii not enter the convention
With q very grca, vote. Ills first ball"t
.nto IL not likely To- exceed 10. But hts
managers asserts h. har agroat,r mum.
,rr ct "r.cund choice instructions
han any other candidate.
n b. certain he has been gaining
irength IN q quiet way lately. II u
az tun early To- say that THIS gain vial
continue. but. with Wood aud Johnson
lighting each other bitterly. aud VITA
landing ,r1rently out of II. l."trd' =
..rma - Save been the beneficiary ui
he recent mck cring. and keen olgerVers
ne taking ..,s candidacy muc'i more
jefiously than at any prior u;d".
The Hoover candidacy seems Ia hav"
taken on "A new leas' at life. Despite
Ia. faci that there are few instructed
Huoy,r ltgut,H. The Hoover people
ar hu1.ly organizing. and are aparcnt'
Is banking on dcadlock. They br-
flr,c. o. ,rmingly. u they can create
,nough Hoover sentiment outside II
the convention II will tell after the
other candidates have beaten each 9th
al
Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-05-23

NIfftNl w NV ANfN"f
CHICAGO. May s2-wuh most state
primarics di,puscd 81. the various ~
pirants fnr the Republican nomination
are now engaged in the gentle art 81
calculation and claiming.
General Woud's managers claim most
enough votes Ia nominate him on tbs
or thnllot They assert they now have
at i,au, $50 delegates assured. They
claim there viii 81 a certainty be- nn
NOR, than three ballots. and that Gen
Wood viii lead on all three.
This il scoffcd at In the other preii'
icntial camps There II II insisted m
candidate v,:i nave over 500 votes on
the first ballot II h generally concci'
"a that General Wood Will bc In tho
lead at the start. hut his opponents
ttv hr will show his greatest strength
"a ~. start and Thereafter viii wan".
The Johnson people say h. Will have
nearly ~ many votes un the iirst bal
lot al Cen. Wund and that he viii be "A
gaining candidate. There Is little doubt
that Johnson's strength viii SHOW some
sainr. but II ~ not believed here he
will gain enough votes tu win.
During the past week strong claims
Xrrc made Tor Senator Warren u.
Harding nf ohio The Odd Guard
would Internationally like To- nominate"
iiarIng. but IT, ability to do ~ b.
doubted u the candidacy ct Gen.
wnoI ..ip.ad ,ollipsr harding would
an h,h 30 considerable portion at
h. Wo,d vote. hut hardly enough -
make Inn the nominee.
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03
Today's Events

Today is the 3Oth birthday Of the
State of Idaho.
The bishops in attendance at the
Lambert Conference will make pill
grimage to historic Canterbury today.
The Socialist clubs of New England
are to meet at Maynard, Mass, today
for a three-day conference.
The roundup" carnival at Dewey,
Okla, for several years prior to the
war is to be resumed today.
Thousands of teachers from every
part of the United States will gather
at Salt Lake City today in anticipation
lof the opening of the annual conven-
ton Of the National Education aasocia-
ton.
Senator Warren G. Harding, Rep
ublican candidate for President has
announced his intention to leave Wash
lington today for his home at Marion
| O, where he plans to remain until
election day.
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03
SLIPPING.

Agan rs slipping and Is slipping So
fast that the editor Of the Rutland Her
aid has had nightmare and sees
ghosts in his sleep The Agan people
expected that the entire local option
crowd together with hundreds Of demo-
Gratis would jump right on the tail Of
the Cement kite.
The bubble has collapsed. The big
following which was expected to come
to the local option candidate has not
matarialized. The people now see
through tue shallow platform of Agan
and know that his propaganda is pure
buncomb. 1t is all a myth, pure and
simple. There is nothing to the C aim
Of Agan. He is simply playing on the
desires of those who would like to see
local option restored His power to do
I IL, as governor or not would be about
as effective as that of a grasshopper
III the middle of Lake Champlain.
The Herald indirectly slams one OF
the other candidates and throws out in
nuendo that money Is being used for
newspaper support and to line up
the ward OF town heelers. Then in a
parabolical vein the Herald pictures
Aean going out to round up votes with
the result that they have already
rounded up for one Of the other can
didates. 1t must have been like going
after fish after they had all been
caught.
1t is quite evident that Agan has
been out hunting for votes with view
to getting a line on things and ha.
been greatly disappointed in his ex
pected support
Agan is slipping and slipping fast
Everyone knows what happens to {
man when he starts ON the toboggan--
he goes fast That's Agan, He ha,
started on the down run.
The Herald can draw parallels
throw out innuendo about the ilesa
: use of money, kick about the people,
rights, hollcr for rum and cry for the
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03
Sundays Events.

One hundred and fortyfourth ami
yersary OF the proclamation Of the
American Declaration of Independence
Calvin Coolidge, governor of Massa-
chusetts and Republican candidate Tor
Vice-President viii celebrate his 4Sth
birthday today.
The annual convention Of the Nation
Ial Education association will open in
Salt Lake City today with program
LOT patriotic singing in the Tabernacle.
The King and Queen of Spain, ac-
Icompanied by Prince jaime, are sched
uled to arrive in London today for an
informal visit of several weeks.
Sir Auck and Geddes, British Ambas-
sador at Washington, is to be a speak.
er at patriotic mass meeting in Bos-
ton tonight in connection with the In
iternational congregational council.
/ Both the United States and Canada
win have distinguished delegations in
the international Zionist Congress
which Is to meet in London today for
its first session since the outbreak of
the war.
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03

We offer one Hundred Dollars Reward
Tor any case OF Catarrh That cannot be
cured by Halls Catarrh Medicine.
Halls Catarrh Medicine has been taken
by catarrh sufferers for the past thirty
i've years. ana has become known as the
most reliable remedy for Catarrlt Halls
Catarrh Medicine acts thru the Blood on
the Mucous surfaces. oxpelling the Poi
son from the Blood ana healing the dis
eased portions.
After you have taken Halls Catarrh
Medicine for a short time you VIII see q
great Improvement In your general
cine at once and get rid Of catarfh. Send
for testimonials, free.
F. ]. CHENEY 4 co, Toledo. Ohio.
Sold by all Druggists. 75e
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03
"In the DAYS News.p

Major Van Santyoord Merle Smith,
who has become Third Assistant Sec
rotary Of State at Washington, enter
Jed the State Department less than a
year ago as a special drafting clerk.
Previously he had had experience in
the service Of the American legation
at The Hague and the American en-
bassy at Toxic. A native of New
Jersey, he received his academic edu-
cation at Princeton University and his
training for the legal profession at the
Harvard Law School. When the Unit
ed States entered the war he Joined
the l65th infantry. He was promoted
to major in 1917 and served until 1919
receiving the Distinguished Service
Cross for extraordinary heroism in
action During the Peace Conference
he was military aide and private sec
Iretary to former Secretary Of State
Lansing.
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03
TO HOLD CUBAN SUGAR
FOR "a CENTS A POUND
Growers, Mill Owners and Brokers
Combine to Force Up the
Price.

Havana, July Cuban cane grow
ors, sugar mill owners and brokers
claiming to control sugar are on rec.
ord as definitely pledged not
TO offer any more sugar for sale until
the price had reached "a cents a pound
the oyel reached during The last half
of May
This decision was made at a mass
meeting at which a committee OF IL
81 re elected TO act as the exclusive
selling agency of those represented at
the meeting,
The amount of unsod Cuban sugar
was estimated by member of the sell
ing committee at 100000 sacks. their
holdings of 2,1SO,O00 leaving only t.
100000 sacks under outside control.
Efforts are being made to bring these
into The pool.
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03
Sundays Birthday

Calvin Coolidge, soyernor Of Massa-
chusetts ard Republican candidate for
Vico-presdent, born at Plymouth, VT,
As years ago today.
Former Prince Frederick William,
who was heir rresumptive to the Ger
man imperial throne before the col
lapse Of the empire, born II years ago
today.
Walter l., Fisher who wa9 Secretary
OF She Interior in the Taft cabinet,
born at Whee ing, w Va, IS years ago
today.
George NJ. Cohan, prom nent actor,
manager and playwright born at
Providence r. /. 43 years ago today
William Farnum, popular actor and
motion picture player, born in Boston,
AZ years ago today.
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03
KID PERSHlNG WINS
Defeats Kid Blake at North Adams in
II Rounds.

North Adams, July 3.-Kid Perish
ing of this city had no trouble out
pointing Kid Blake Of Troy in their.
12-round bout here Thursday night
The local boy went af or his coiored
opponent and had a big lead at the
finish Blake was unable to carry g
single round, but he was game and
took everything Pershing had
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03
TodaY,s Anniversaries.

1908 Quebec swas founded by the
French explorer Champlain.
l717- George Clinton was elected first
State governor of Now York.
1883 Pan american Conference Of
the Charch Of England onaned
at Ianlor Palce
1SS9-The Washington Equal Suffrage
Ng5tIation was organized at
Olympia.
1S93-The Royal Geographical society
refused to admit women to its
membership,
1894 The jubilee of the Salvation
Army was celebrated with a
great meeting in the Crystal Pal
ace London
1900-The Khediye of Egypt was vel
coined in the City OF London.
/ 1903 Harriet Lane Johnston mistress
OF the White House in Buch-
/ anans administration died at
Nawagansett Pier Born al
Manchester. Pa, in 1888
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03
Sundays Anniversaries.

l776-American Declaration of hide
pendonce proclaimed.
l79G-Frst settlement of the Western
Reserve begun at Conneaut.
Ohio.
.1Sl5-Ordinance of Texan Congress for
annexation TO the United States
accepted by convention of the
people assembled at Austin.
1866 Integrity of Denmark guarantee
ed by England, France, Prussia,
and Sweden
l@70-Un'ted States Senate refused to
extend citizenship to the Chin
csc.
/ l8S7-Anson p. Morrill,, first Republl.
can governor of Maine, died at
Augusta Born at Belgrade, Me-,
June 10, 1903
/ 1890 Semi-centennitol Of the laying
of the cornerstone of the Uni
ycrsity Of Missouri at Columbia
celebrated
I l01S-The first woman was elected To
the Dutch parliament
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03
Today's Birthdays.

Habizullla Khan, Amer OF Afghanis-
tan. who is threatening trouble for
British rule in India, born As years ago
today
Charlotte Perkins Gilman, noted au-
thor and sociologist, born at Hartford,
Conn, 60 years ago today.
Prof, Ralph b. Perry of Harvard,
president of the American Philosophi
cal association, born at Poutney, Vt,
Al years ago today
Sarah Pratt Greene popular novelist
and short.story writer, born at Sims
bury, Conn g. years ago today.
The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1920-07-03

poor saloon keeper but it all will never
bring back the open saloon or stop the
Agan 81 de.
Vermohfs next governor will be
Rabbit, or Emery, or Hartnes5. There's
nothing to Agan but bubbles Bur
lngton Clipper