davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-01-03
WILL TRAIN TEACHERS
FOR RETAIL SELLING
N. Z. UniUersify Announces
Extended Course.

Following meeting of department
store officials and representatives or New
York University. II was announced yes
terday that the universtyfJ training
school for teachers Of retail selling will
reopen In September as the New York
University School of Retailing. with an
enlarged curriculum covering all phases
of merchandising. The department store
representatives subscribed TO a $1,000
600 endowment fund for the new insti-
tuition.
The meeting was held in the Office OF
Percy Straus of r. III. Macy a. Co That
store and the following in the metro
politan district were announced as sub
scribers Abraham & Strsus l.. B7m-
berger & Co. Best * Co. Bloomingdale
Bros, l.. H. Blumstcn. American
Bookscllers' Association. Cammcyer,
Gimbel Bros, Hahne q Co. James a.
IIoarn & Co. Frederick I.oeSer & Co..
Lord q Taylor, Jamcs McCutchcon &
Co. 4. Z. Nam II s. Son. oliver A Olson
a. Co. Oppenhelm Collins & Co. L. s.
Plaut g. Co, Retail Millinery Aseocia-
ton of America. Saks & Co. Franklin
simon & Co. arid Stern Brothers
The departments that will comprise
the new school OF retailing are ae fol-
lows: Textiles. merchandising. publicity,
Industrial relations. merchandising Eng
lish and ethics. non-textiles. accounting.
merchandising research. store orRaniza-
tion and management, merchandising
finance. buying, design, merchnndisiu2
statstics. merchandising administration.
training social aud Industrial welfare
mad galcsmanship.
The New York herald., 1921-01-03
COST ANALYSIS SHOWS
UNEVEN PRICE DECLINE
Economic Sturucture Upset,
Says Merchants' Body.

The unevenness of the general decline
In prices has upset temporarily the equi-
librium OF the countrys economic struc-
ture. according TO an analysis OF falling
prices made puh'is yesterday by the
Merchants Association. This analysis
shows that clothing has fallen "a per-
cent below the highest price reached /;
farm products. 33 per cent. foodstuffs,
80 per cent; lumber and building ma
terials. 30 per cent metal products. 10
per cent fuel and light. . per cent. !:
chemicals and drugs per cent house
furnishings. ] per cent.
This fact OF uneven price reductions
Is of tremendous Importance to mer-
chants and manufacturers" the asso-
cIatiou's bulletin said. 1T means that
the equilibrium of our economic struc-
trre has been temporarily upset. Had
the price Of an commodities as well az
the wages of workers declined in ap-
proximately the same ratios the buying
power OF the different classes would be
relatively the same as "a year ago. But
as II happens certain classes have been
affected more adversely than others.
Farmers. for instance, arc now receiving
one-third less for their products. so have
suffered a real decrease in purchasing
power. since other products, with the
exception OF clothing. have not fallen
comparably with farm products"
The New York herald., 1921-01-03
NEW LOANS SUCCESS
ENCOURAGES FRANCE
Considered Strong Proof of
Financial Solidarity.

Special Gable to THE NEw YoRK IIEaALp.
Copyright, 1871, BY THE NEW YonK HERSLp.
New York H,raId isureaa.
Paris, Jan. q
An things considered, the recent inter-
national per cent loan can be re-
garded as strong proof OF the financial
solidarity of France and confidence in
the future. is the comment in banking
circles following the statement OF Fred
eric Francois-Marshal. Minister OF Fl
nance. that the total subscriptions
reached the unprecedented figure OF a.
600, coo. .0o0 francs. of which 9,100. 000.-
OO0 represented subscriptions In New
York.
National defense bonds representing
$500 900, 600 francs were exchanged for
the indefinite 6 per cent securities and
more than IL. 600, 600 900 fracs are repre-
scnted in the transfer of scattered Sc
curities for the newer and higher in
terest bearing bonds. NJ. Marsal points
out that this will represent 20,00G Gee
GOO francs available for the consolidation
OF the budget for next year. which, II
the taxpayers open their rockets COM
mensurately with the eacerness with
which they subscribed TO the G per cent
loan, leaves the situation satisfactory
notable fact Is that whereas COM
merce and industry were largely re-
sponsible for the success Of the pre-
vious loans the organizers of the lat-
est loan campaign stressed the con-
stancy Of Frances natural resources as
the best security and the greatest sup
port came from the agricultural regions
The New York herald., 1921-01-03
PRICE OF MUSLIN
CUT TO IT CENTS
B. b. & X. Knight Slash Fruit
Of Loom Is Per Cents
a Yard To-day.

Among the first OF the large firms 10
b. b. & r. Knight, Inc. which an
nounces to-day reduction of cents
yard In their Fruit of the Loom"
muslin, widely known throughout the
trade. The new price is Is per cent.
cut and brings the price down to IT
cents yard. The reduction. which goes
into effect to-day, was announced BY
Converse 4 Co. selling agents.
In n letter to the trade the corpora
tion says: after figuring labor on the
lower schedule effective Dec 90. and
taking into consideration the lowest
available price on cotton, this price bare
ly represents the cost OF manufacture.
1t Is not our policy to advise our GUS
toners to buy. That Is a question they
must decide for themselves but we do
want to say we have done our best tc
establishe a price that will be generally
recognized as low and on which our
friends can operate with confidence"
Fruit of the Loom is made by a
subsidiary of the Consolidated Textile
Corporation. The Windsor Print Com
pany, n subsidiary of Converse & Co.
also announces several reductions IN
price of their products. They follow
Windsor Gloria percale. light. from 13h
cents to 11% cents: Windsor Gloria
percale, dark. 15 cents TO 13 y cents
Windsor premier percale. light, Is cents
to 13 cents. and windsor Premier per-
caier dark, 1s cents to 14is cents.
To-days reduction is the second or the
price OF Fruit of the Loom since
Sent
The New York herald., 1921-01-03
FORD LIKELY TO BUY
TOLEDO AND WESTERN
Receiuer Appointed on H. L.
Doherfy Co.'s Application.

Seecial Despatch to THE New York HERALD
TOLEDO Jan. AT the request of the
Henry L. Doherty Company OF New
York, Federal Judge Kollits to-day ap-
pointed J. Frank Johnston and Harry
A. Dunn as receivers for the Toledo and
Western Railroad. Johnston is general
manager of rhe road and Dunn is trust
officer of the Ohio Savings Bank and
Trust Company of Toledo.
The Doherty company filed claims of
approximately 100000 against the road.
setting forth in it's petition that last July
the company defaulted its interest on
bonds. 1t is averred that stockholders
have pressed claims for past due divi-
dends until about eighty suits are pend
ing. To forestal this multiplicity of
suits the Doherty company asked for
the receivers.
officers of the road made threats to
junk the railroad last summer unless in
creased fares were granted. As a result
higher rates were allowed. The road
runs from Toledo to Adrian, Mich, by
way of Sylvania. At Sylvania another
line runs west to Pioneer, Mich.
What is believed to be reliable in
formation in financial and court circles
here tonight was that Henry Ford has
about completed negotiations for the
purchase of the road. Mr.. Ford desires
IL to link 1t with Indiana points. max
ing a continuous electric railway service
to Chicago Mr.. Ford, 1t is said, intends
to install his new gasolene propelled
street cars on the road.
The New York herald., 1921-01-03
LOCKWOOD TO GET
FULL AUTHORITY
Demand for Yncstigation
Strong IN Albany.
Special Despatch to THE NEw York IInaArn
New York Herald Rarranp
Albany. Ian.

Special Despatch to THE NEw YORK HnaALn
New York Herald Pnrcar1
Albany. Jan. ..
IT is well known that the powerful
lobby which fought the passage last
spring of the resolution creating the
Lockwood committee and providing for
the investigation of the banking and in
surance companies will renew the battle
when the session reconvenes next
Wednesday.
Due TO the activity Of the lobby, the
resolution as finally passed was amend
ed, with the teeth pulled. The provision
for investigating the management as
well as the financial affairs of the insur-
ance companies and banks was lifted
out so that the hands of the committee
were tied. Senator Lockwood and his
ASSOCIATES had annoHced their determi-
nation to ask the Legislature to put
back the teeth as soon as the session
gathers and it is expected there will be
a hard fight on that proposition. Some
of the insurance lobbyists have been here
for the last few days sounding out SEN
timent, but only few of the Senators
and Assembhmen have yet arrived.
Most of the propaganda work is being
carried en- presumably back home IN the
districts.
There is overwhelming demand here
that nothing be allowed to interfere with
the Lockwood committee. The sentiment
TO continue its life until it's work is com
pleted is so strong thai IL is believed
none VIII stand up against it, The whole
fight will be made against changing the
form Of the resolution giving the COM
mittee its authority. Senator Lockwood
went to New York to-day.
The New York herald., 1921-01-03
Big DROP IN EXPORTS
THROUGH THIS PORT
Gold and Silver Imports in
1920 More Than Ten Times
Those of 1919.

4 Domestic exports valued at $3,119,-
bS0,SS4 flowed through the port of New
York during the past year bound for for
oign markets. During the same period
imports valued at s2,93S, 3S4,471 arrived
in this port for distribution over the
United States. -
"A comparison of the figures OF 1919
shows that the export trade showed a
decrease of approximately s231,oO0.000.
while the import trade increased about
SS6S. 900, 0G0 Foreign. exports, which
reached the total of s117,9I5,916 in
1913. were shaded down to sS1, ,965, 715
during the past year.
Gold and silver imports in 1920
eclipsed the 1919 record more than ten
fold the figures being. 1920, $343,292.-
1G6. against 32,S39,216 in the year
1919
Fore ign commerce yielded duties in
1920 which totalled S223.6S6, go. 45,
which registers substantial gain over
the collection in 1919, which amounted
to s172,279,527.55. Miscellaneous custom
house receipts aggregated Sl.6S2,596.l5
in the last year, as compared with
S1,649.SS3.94 of the preceding year.
The New York herald., 1921-01-03
SUPREME COURT FACES
MANY ASSIGNED CASES
Skce Machinery and Dakota
Boundary Litigation.

WASHINGTON, Jan. Rec nvening
to-mosrcw after the holiday recess. the
Supreme Court will face a .calendtsr. of
assigned cases which those FAMILIAR with
the court declare to be unusual both as
to number and public interest.
The Government suit against the
United Shoe Machinery Company and
the cross bill of that corporation heads
the list with the original boundary suit
between North Dakota and Minnesota
next in oider.
Other cases include the Detroit street
Railway case which is a suit for an
injunction restraining the city of Detroit
from entering upon public ownership
programme the Kentucky distilleres
ease" involving an appeal from the
state law affiNing IN extra tax on liquors
in bonded warehouse the Invested capi-
tai case" and two nearly related rev.
cnuc suits. and the appeal Of Senator
Truman. III. Newberry Of Michigan and
others from conviction under the corrupt
pra ctices act.
The New York herald., 1921-01-03
THE MEXICAN EAGLE OIL COMPANY.
LIMITED.
(CIa MEXICANA DE PETROLEO "EL
AGTIIAv = Al
NOTICE TO AMERICAN SHAREHOLDERS


NOTICE TO AMERICAN SHAREHOLDERS.
NOTICE IS HEREBY GIVEN that lby
Resolutions OF the Company passed IN Mexico
City on the 22ud Deeeniber 1920. K was
resolved (a) 70 authorize an increase OF
Share Capital to 100. 600 900 Pesos Mexican
by tie creation OF ASS .0i2 Ordinary Shares
Of Ten Pesos Mexican each. and (bl 20 offer
70 the present shareholders Of the Company
one of such new Ordinary Shares at par for
every two Shares. either Preference or Ordi-
nary, held by them.
TO enable holders OF Share Warrants 20
Bearer TO take advantage Of this issue,
they must deposit at The London Joint City
Midland Bank, Ltd, Threadneedle Street,
London, T. c. ., or any of It's branches, The
Belfast Banking Co., Ltd, Belfast, or any
Of IT'S .hTancheS. The Clydesdale Bank, Ltd,
Glasgow, any OF It's branches, Coupon No
representing Ordinary Shares end/or Coupon
No .o detached from Definitive Share War
rants representing Preference shares. These
Coupons must be accompanied by remit
lance to pay up IN full At par for one new
Ordinary Share In respect Of every two old
Shares represented by such Coupons.
For each new share the sum Of 81 s. %
Cbeing the exchange equivalent OF Ten Pesos
Men. Csold) rs payable az the time of Lodge
ment Of such Coupons.
Due application for the new Shares must
be made 70 the aforementioned Bankers
not later than the 3irt January. 1921. but
the Board may, IN any special case at lta
abeoluts dtecrc'ion. extend such time, for
not exceeding onu month
The above mentioned Coupons and remit
tance rAust be forwarded to London by tho
Sharehoiders' bankers. who in turn must
forward and present them through their
I,cidon agents.
The new shares VIII ranlf parl passu with
The cNisting Ordinary Shar res. but win not
participate IN any Dividend that may be
declared payable on the 3tst December. 1920.
Provisional Receipts will he issued IN eN.
claacc lnr the aforementioned Coupons anil
Remittances. which Provisional Receipts viii
n; due course be exchanged for DefInltsye
Share Warrants 70 Bearer
Fractional Receipts representing onc-halt
of neN Share win he Issued againrt pay
rcRt OF lis oil each IN respect Of each odd
Stare and such Fractional Receipts II pre-
sented not later than a1st May. 1921. at the
Office Of WhitenaI Securities Corporation,
LIZ. Lon'on, Financial AGENT Of the COM
patty. ~ Parliament Street. 3. W, with adj
difional Fractional ReceiptS representing one
more complete Shares, ana letter OF
request signcN by the holder VIII be ex-
changed for Provisional receipts for fully
paid shares.
HERBERT J. CARR
Attorney inf tct for
Whitehall SccuIitie7 Coz poration Limited.
(London Financial Agents9
The New York herald., 1921-01-03

AlsBEltI L. SMlIiis
RADCLIFFE CfIESTON. JR..
CHARLES s. CTfESTON.
ALBERT II. MARCKsNALp.
EDWARD w. BIrCKHOUT.
John w. CUTLER.
The New York herald., 1921-01-03
DYES HERE EXCEED
PRE-WAR IMPORTS
Better Quality Produced and
Consumer Gets Better
Value for Money.
TOTAL 63.0OO.OO0 POUNDS
Decrease in Those Easily Made
and Increase Fitting Rarer
Ones for Export.

WASHINGTON, Jan. marked prog
ress in the development of the American
dye industry is shown in a report made
public to-day by the United States Tariff
Commission
Production OF the various classes Of
dyes during 1919, the period covered by
the report, is stated as equal to or In
excess of the pre-war imports of the
United States. with the exception of vat
dyes other than indigo. The manufac-
ture of vat dyes. however. is said to
have made much progress despite the
high technical skill. long research and
large investment of capital involved.
Although the average price n pound
of dyes in 1919 was the same as in 1918,
the commission found that the consumer
received better value for his money. as
the dyes produced In 1919 were of a
higher quality and in many instances
were of faster type than the dyes
available the preceding year.
The total production of dyes in the
United States in 1919 is estimated by
the. commission at more than So, ,000. 900
pounds. an increase of per cent over
1913 manufactures and OF SO per cent.
over pre-war imports. Many instances
are said by the commission to have been
found of decrease ia those dyes rela-
lively easy to make and the appearance
OF many new dyes. The output of GER
tain dyes is said to have been developed
to a point beyond the domestic consump-
ton, and large quantities of these were
exported, particularly to China and
Japan. Little competition was expert
enced In foreign countries in 1919 from
German dyes. the commission reports.
adding that the rate Of dyestuff produc-
tion by Germany since last July had
been about one-third the pre-war out
put.
The New York herald., 1921-01-03
GUARANTY TRUST co.
HAS ITS BEST YEAR
Undivided Profits Increase
S5,O00,000: Employees
Number $40.

The year 1929 was the most success
full In the history OF the Guaranty Trust
Company. according to special report
cent 10 shareholders by Charlie II. Sabln
president Undivided profits on Decem-
her 81 were more than S11,6O0,000. as
cornpared with s6.239.S90 at the begin
ming of the year.
The letter adds that the increase is
made "after the deduction of all operat-
ing expenses. including the 20 per cent
high cost OF living allowance TO the EN-
pIovees. providing for all taxes, the
regular 90 per cent. dividend amounting
70 $1,000 .0oo making deductions for
distribution under the profit sharing
uIan. CHARGING of determined losses end
making due allowance for bad and
doubtful accounts. both foreign and do
nestle" Mr.. Sabir saws further:
Besides these allowances. the securi-
ties owned by the company arc carried
n less than market values. and there are
rNore than sufficient unreali2ed profits to
cover any nossible eventualites in con-
nectfon with any business in hand.
'Tn every department of the COM
panv's business the year 1920 has been
marked by rnaxirnur1 of volume and
the pressure OF the pIhlic's demand upon
us has been 30 great that constant en-
lar.ement OF our organization and or
working quarters has heen necessary
During the year the ratio of earnings
to operating costs has been considerably
increased"
The number OF officers and employees
has grown from 1886 In 1918 and $50
In 1919 TO $40 in 1920. In the year
lust closed the company's bond DEPART
oent and the Guaranty Company
handled a total of s2.165.S2o,900 par
value of securities, compared with 81
$50. .726.6S7 in the preceding year Total
holdings of the companys stock by its
officers. employees and their families
are 2O.01S shares.
After referring to the death OF Alex
ander J. Hemphill. Mr. Sahiu discussed
tie banking situation as follows:
"In common with a majority of tho
hanks of the country, your COMPANY win
show sons what decreased deposits at
The close Of 1920 in comparison with
those OF 1919. This is. of course.
reflection Of the natural reaction and
the general readjustment OF business
which IS I'm progress. These readiust-
nlents. of course, have not been confined
20 this country alone. but have extended
throughout the world and have affected
business conditions generally. In facing
this period Of liquidation, defiation and
reconstruction it is source of con-
graduation TO YOU both as citizens Of
this country and as stockholders Of this
company. that American financial insti-
tutions are on the whole, on a sound
'asis and amply prepared to meet both
the problems the situation raises and
The opportunities which are certain 70
follow in the future.
ut is the feeling of your officers that
this period marks the turn Of the tide
in declining prices and liquidation and
although there are many readiustments
yet TO be made in the months and years
20 come, there Is every reasonable as
surance of a return TO normal business
conditions, stabilized prices. easier
money and larger business oppor-
tunities."
The New York herald., 1921-01-03
FAITH AND OPTIMISM
NEEDED NOW, HE SAYS
Thomas Wilson Makes Plea
for Cooperation.

slogan Of optimism 10 carry busl-
ness through the present crisis OF de-
ciining prices was sounded yesterday
by Thomas Il. Wilson. president or the
Institute OF American Meat Packers
Recent Developments IN the Industrial
field have received an exaggerated Inn
portance. he said. and the pessirnism
now pervading tho country is due 70
faulty reasoning.
This Is no time for pessIrnisrn." said
Mr.. Wilson. but II Is the time for con-
structive cooperation. with n generous
slice OF pluck. 20 be displayed by ali of
us TO bring this nation back 10 that
prosperity which rightfully belongs 70
~.
Industry must forge ahead. and such
rsvere setbacks as have been ewrpri-
anced must be considered an being left
behind. for We cannot build permanently
upon a structure having as its founda-
ton a lack OF faith In ourselves and our
country"
The New York herald., 1921-01-03
CONSOLIDATED LIST EXPANDS.
Adds 90 Securities During Yenr
Just Closed.

During no previous period in the HIS
tory Of the Consolidated stock Exchange
Of New York has arv'hing approaching
the record OF 1870 been reached In trad
ing liat cxpanslon. Approximate figures
Indicate that more than nifty securities
were listed during the year. bringing the
number OF such properties well above
zoo. the additions representing an In
crease OF about 30 per cent. in the year
The first fve months OF 1920 were
figures in connection with the final seven
months Of 1919 in producing the record
breaking aggregate OF 26,56e.044 shares
(cxclusive OF loans) for the fiscal year
ended on May 81 The December ag-
gregate--1. .sGot561--shows substantial
increase. compared with figures OF every
month since April. which may be taken
as an Indication of-an early return to
monthly totals approximuting Va the
neighborhood Of 2,500.0 900 monthly
The total by months follows
The New York herald., 1921-01-03
DIVIDENDS AND INTEREST.
Wins!ow, EaHier & Co.
50 CEDAR STREET
NEW NCRH

TEE FOLLOWING C0TrONS AND pIVl
DENrS ARE PAYABI r AT OUR BANKING
HOUSE DURING TIE MONTH OF JANU-
AIRY, 1921
JANUARY /. 1921.
Cleveland & ~Pittlburgh I'D. Go. Cen Mtge
4ihs
Cleveland g. Mahoning Valley Ry. Co. LIST
Mtre. 80 Coupon Bonda.
Cleveland & Mahoning Valley Ry Co. 1st
Mtge. so Registered Bonds.
Grand Rapids and Indiana Ry. Co. 1st Mtge
Ext. 3iss and AS.
Indianapolis, Ind, City Of.
indianapolis, Ind, School Bonds.
Jellyl Island Club 1st Mtge. ilsH
Nuskegun, Grand Rapids Indiana LIST os.
Marion County. Indiana. Bridge Bonds.
Northern Pacific Terminal Co. OF Oregon LIST
c.
New Orleans, City Of, Constitutional & I'm
provcmcnt As.
Niagara Falls Power Co. lst IS.
Niarara Falls Water Works ist IS.
Pittsburgh. Fl. Wayne & Chicago Railway
CO. Common and Special Stock div. l%fe.
Traverse City r. r. Co. tTt 3T.
JANUARY s. 1921.
Pittsburgh. Tt Wayne e. Chicago Railway
Go Preferred and Original Stock div.
Igos
The New York herald., 1921-01-03
BETHLEHEM REDUCES
WAGES OF EMPLOYEES
Cuts Pay Of All at SparroDs
Point Plant.

baltimore, Jan. "A 10 to 20 per
cent. reduction OF wages. affecting all
elassea of employees, at the Sparrows
Point plant of the Bethlehem Steel
Company was announced last night.
The decrease is effective January 16.
and is said by company officials TO be
due to business conditions and de-
crease in prices OF steel products"
Several thousand rnen wifi be affected.
The company employs In normal times
5000 TO C,00O men, although the work.
ing force has been reduced somewhat
In the last six weeks.
No notice Of an impending reduction
In wages OK employees Of the Bethlehem
Shpbuilding Corporation had been He-
celved last night and none was known 70
be contemplated.
The New York herald., 1921-01-03
PRISON PLANT MAKES RECORD.
VIII Meet Demand for Automobile
License Plates.

The plant installed at Auburn prison
last July for the manufacture OF State
automobile license plates is working
under pressure of day and night shifts
according 20 "A report TO the State Com
mission Of Prisons. made public yester-
day. The plant Will be able to meet the
demands of the automobile license bu-
reau of the office OF the Secretary OF
State.
A representative Of tho Secretary OF
State has informed the prison authors
ties tha; more plates have been deliv-
cred TO date than in any corresponding
period OF previous years.
The New York herald., 1921-01-03
Doherty Operating Company

NOTICE OF ANNUAL. MEETING
or STOCIHOI.DEI,S
TIE ANNUAL MEETING Of stockholders
OF DOHERTY OPERATING COMPANY. .
Corporation of tho state OF New York. VIII
be held OF the office OF the corporation. No.
60 Wall Street, New York civ. New York,
on the 10Th day OF January. 1921, AZ ~
o'clock noon for the purpose Of eiecting .
Board OF Directors, APPROVING the acts OK
tile officers and directors tor the preceding
year and the transaction OF suct other
business as may properly come before said
meeting. LOUIS r Mioii..
Secretary.
Dated December 2Ith. 1870.