davidaulloa/AmericanStories huggingface dataset:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
TRADE IMPROVEMENT
IS SLOW BUT CAUTIOUS
Experts See Best Tone in the
Apparel Lines.

Slow, cautious but sustained improve
mcnt marked the general Industrial and
trade situation during the last week.
Especially in the apparel trades was the
better tone noticeable. Industry is still
suffering. according to the weekly re-
views Of trade. from the blight OF I'M
employment and numerous reports of
assumptions or OF increases In time
worked in some lines are partly bal
anced by reduction In employment In
others, notably the railroads.
Rather less doing in some big pri-
mary lines and markets." says Grad
streets, but more business at small
jobbing centres. particularly In the West
and through the medium Of road sales.
give an appearance of irregularity to
several OF the large apparel trades and
their kindred lines. That the improve
ment noted earlier In January In these
trades has been maintained, however,
and that current spring needs are de-
manding attention from retailers OF dry
goods seem evident In the dispatches
this week. Immediate need buying In
still the subject of note. Even retail
trade Is a shade better. although II is
noted that mild weather Ia a bar to
much activity In heavyweight goods"
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
PENNSYLVANIA PLANS
FOR $4,000, 900 ISSUE

WASHINGTON, Feb. Tho Pennsyl-
vania Railroad Company asked to-day
the Interstate Commerce Commission for
authority to Issue $120.0O0,00O OF gold.
bonds. Half OF them. bearing Ga per
cent interest would be sold and the
other half. bearing per cent. interest.
would be pledged as security for the
bonds placed on the market ca
OF the funds to be derived from the
sale of the $60.000.000 of bonds to be
marketed. $20.000.000 would be used to
purchase equipment OF the Pennsylvania
company. Of which the railroad owns
the majority Of stock, and s22.000.000
would be used In purchasing shares
owned by the Pennsylvania company In
the Pittsburg, Fort Wayne and Chicago
Railway Company and in other units Of
the Pennsylvania system. The balance
would be held and spent for capital ex-
penditures authorized by the general
mortgage to be contracted to secure the
second issue Of 100000, 900.
The Louisville and Nashville Railway
Company applied for permission to issue
S3,500,000 Of first mortgage bonds to be
secured by a general mortgage on the
properties Of the Southeast and St Louis
Railway Company, OF which the Louis
Vile road il tho lessor. Tho money "a
to be used to retire a like amount OF
bonds maturing on March 1.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
RESERVE BANK PUTS
H1n
UP REDISCOUNT RATE
6 Per Cent. Is Set on Certifi-
Gates Because of the Ex-
cellent Demand.

The first change since May 20 of last
year by the Federal Reserve Bank Of
New York In rates for rediscounts and
advances occurred yesterday and the re-
vision was upward, the bank announcing
that the preferential rate Of 515 per
cent. for advances and rediscounts on
certificates Of Indebtedness had been
abandoned. The rate becomes per
cent, or the same that applied to paper
secured by Liberty bonds and Victory
notes. Similar steps had been taken by
other reserve banks earlier in the week.
In a statement issued yesterday and
mailed to member banks the reason for
the step was explained as follows:
1.-The abandonment of the preferential
in the rate for advances against Treas
ury certificates over that which prevails
for advances against Liberty bonds and
Victory notes is a reflection of the ex-
cellent and increasing demand for these,
certificates during the last eight months,
eliminating in the heavy oversubsecrip-
ton for the January 10 issue. At present
all outstanding certificates are selling at
a premium except the small portion of
the March Is maturities, which bear the
rate Of AZ per cent. got
Preferential rates for advances by
the Federal Reserve banlxks secured by
the various classes of Government secur-
tiles were originally established to facil-
itate their purchase and distribution.
But the broad open market which has
developed for certificates OF indebtedness
and their ready absorption by investors
make a special discount rate on loans
secured by certificates, as distinguished
from other Government securities. no
longer necessary. ~,
There has been an almost complete
distribution of the certificates. which
were formerly SO largely used as col
lateral for loans at the Federal Reserve
banks. At the end OF January there
were s2.351. 900. 900 certificates outstand-
ing. and of thees only 81 per cent. or
$751; 100000. were held by the twelve
Federal Reserve banks as security for
loans. The rest were presumably hele
by investors or non-borrowing banks. 2.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
TOPICS OF WALL STREET.


Bankers handling the proposed Bur-
lington financing express the opinion
that the Great Northern and Northern
Pacific will put out issues of approx
mately $40. 900 each before July to
care for the balance of their obligations
on the Burlington joint As. due on July
!. Nothing will be done. however. until
the Interstate Commerce Commission
takes action on the application to issue
$SO.000000 of bonds and $60.000.000 Of
stock against the surplus which has been
accumulated. II Is pointed out that
three separate issues are more likely
than joint issue. AS one banker sug
gested yesterday. should big investor,
such as an insurance company. desire TO
participate in the offering it's subscrip-
ton probably would be larger IL the
three issues were offered separately.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
CrucibIe Steel.

So heavy was the volume Of selling
orders In Crucible Steel at the opening
yesterday morning that no fiat price
could be reported, and its opening sales
we're grouped between 87H and SS1a,
against Thursdays close of 891t. No
explanation Of the selling was found In
the news Of the day. but the report that
IL was largely for short account was
borne out later by the premium OF u
on borrowed stock. That premium was
raised later In the day to u.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05

1t is pointed out that in view OF it's
large earnings the Burlington has a COM
paratively low capitalization. Includ-
ing the $140.000.000 which Will be re-
quired to pay off the joint As and in
addition to the current securities for
which application has been made, It's
capitalization will be $46.600 mile, In
contrast to S69,513 for the Illinois Cen
trail. $S2.250 for the Union Pacific.
$63,183 for the Great Northern and
SS7,11s for the Northern Pacific. rhe
figures are recapitulated thus:
A mile
Total stock .. S1f0, S39, 100 $11 1926
Funded debt outstanding. 16s ,O5O, 600 $4,000
Cnpitalizatn outstanding. $27S. $50. 100 $50. 425
New securities proposed. 140oo0.OOO .....>.
Total ......$ 4ls, ss9. 100 $4,000
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05

There will be no immediate financing
loans payable. disclosed in the balance
sheet made public yesterday by the
United States Rubber Company. accord
ing to reliable information obtained yes
terday. The company has plans for
gradual liquidation of at least a part Of
these obligations without resorting to
permanent financing. II was said, and
does not desire to fund the debt at pres
ent high rates unless necessary. Slow
collections. especially In the footwear
branch OF the company's business, was
responsible for the unusually high loan
account. II was said
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
Zinc stocks Helped.

The despatch from washington re-
garding the favorable report In the Sem
ate on the miners reimbursement bill
had favorable effect on zinc stocks,
which have been in the doldrums for
considerable time, and they became I'M
wontedly active. with a slightly upward
tendency. Under that bill. small pro-
ducers of zinc, tungsten and other min
erals. who periodically responded to ap-
peals from the Government for increased
production and were left flat with big
stocks of metal on their hands when
the price broke sharply after the armis-
tice was signed, would be granted re-
lief.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
international Banks.

A banker yesterday called attention to
the fact that many large International
houses, which generally participate In
undertakings. had not taken part In any
recent offerings, largely as precaution-
airy measure and to await developments
on the other side. He expressed the
opinion that those houses which had
been standing aloof had a tremendous
reserve power of credit to throw into
the balance on the constructive side when
the time should be ripe
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
FINANCIAL NOTES.

Stroud Co. announce that Mrs Elizabeth
W. Moore has Joined the bond department
Of their New York office
Tho hoard % managers ~ The New York
Cotton Exchange has refused 80 grant she
petition OF We members Tor an exchange
holiday on February n.
Y. Laurence vickcry ~ Atlanta Ca. and
Paul Appenzuiiar 81 Svartwout Appen.
cellar have been elected members OF tho New
York Cotton Exchange.
Dresser 4 Eschcr nave published circular
containing descriptive list Of short and
long term railroad. Industrial ard public
utility bonds with Yields ranging from . 70
80 per cent.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
Florida Selling.

For eleven months in the year Florida
means little else than a pleasant State
to most of Wall Street Just at the
moment, however. 1t Is an important fac
tor because most of the big bears have
gone into Information by the Gulf and
have not failed to drag branch offices.
pink selling slips and telegraphers along
to their places OF winter vacation. Most
of the heavy selling of stocks in the
last three days is reported to have orig
mated in Florida.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05

The plan of the directors OF the Inter-
national Products Company to create a
$5.000.000 s per cent mortgage note
issue, OF which s2,272.2zg will be issued
In exchange for present outstanding
bonds and In payment for ships under
contract. was approved yesterday by
the stockholders OF the amount to be
issued about $1.0s0,0sa will be required
for the exchange of securities and the
balance for the payment for ships and
other corporate purposes.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
Pullman Company.

According to reports from Chicago
there will be no change in it's regular 2
per cent. quarterly dividend rate when
directors of the Pullman Company meet
next week for action. One of the direc-
tors was quoted as saying that there
would be no change in the rate and that
such q thing had not been considered.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
Gold Imports.

Kuhn, Loeb & Co. announced yester-
day that gold imports Of S2.S50.000 were
on the way from England to New York,
making the total for the movement since
January /, 1921, exceed 100000, 900 for
the first time. The Adriatic has on
board $750.0o0 in gold, and the Finland.
which sails to-day. s2.100,000. The ag-
gregate movement thus far is $101,-
$4,000.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
COPPER SALE PLANS MATURING.

Arrangements for financing tho sale OF
about 4o0.000.000 pounds of copper to
foreign consumers. chiefly Germany, by
the Copper Producers Association were
said yesterday to be progressing. II is
understood that the plan involves an
outlay approximating s40.000,000, and
that syndicate, which may include
banks and trust companies Of this city,
Boston ana elsewhere. viii likely be or
CANNED.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
CONSOLIDATED CIGAR REPonTs.

The Consolidated Cigar Corporation,r
1920 report shows net profitn, aftef
charges and taxes. Of $1.lS5.tt7. equiva-
lent to $11.64 @ share earned on It's OUT
standing common stock. It's groas
profits were $5.S45.S66. expenses S2.~
els.557 other income s151.s17. interest
sye7,754 and taxes $6ss,273. For pro-
ferred dividends $260.491 was paid and
ses1,f25 was distributed on lie common
stock. leaving $593.831 surplus. To-
total profit and ross surplus. After de-
duction Of tho $4,000 stock dividend
paid during tho year, was S56S,7s7.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
CRUDE OIL PRICE LOWERED
Principal PittsburE Agencies An
nounce Moro Cuts.

PrrrsBuRo, Feb. Further reduc-
lions in the price of crude OIL were an
nounced here to-day by the principal
purchasing agencies. Tho reductions
range from 20 to as cents a barrel. '.i
The new prices. effective Immediately.
follow: Pennsylvania crude. $4.75. q re-
duction OF 25 cents: Cabeli. S8.S6. . re-
duction OF % cents: Somerset, $3.76. a
reduction of as cents; Somerset light, -.
a reduction of rs cents. and Ragiand,
$1.b0, a reduction of Is centa
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05

In tightening up their pay rolls, as
the railroads have been doing since the
first Of the year, most of them have
adopted the policy of using the seniority
rule in eliminating men from their pay
rolls Men who have been in the offices
or on the roads will remain the longest
and. when taken back, will be re-
employed in the same order as dis
missed.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
Underwater OIL Company.

The Tidowater Oil Company's net
earnings during 1920, before interest
and taxes. with December estimated.
were $14.500.000, an increase of more
than 100000 compared with those of
1919. Net sales for the year were $780,
100000, against s46,S2s.7s4 In 1919.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
STATE BANK IN KANSAS CLOSES.

TOPEKA, Kan, Feb. 4.--The Farmers
state Bank OF lie Loup, Franklin county.
was closed to-day. G. #. Pettijohn or
Olathe, whose personal affairs wore
placed In tho hands Of q reosiver q Tow
DAYS ago. was president % ne beuk
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05

LONDON, Feb. t.--Bar silver, 36Ad.
ounce; bar gold, 1905. 3D.. money, so
per cent; discount rates, short and
three months bills, 6ss per cent gold
premiums at Lisbon. 1900.
PARIS, Feb. 4.--Prices improved on
the Bourse to-day. Three per cent.
rentcs, IS francs so centimes; exchange
on London, 81 francs 40 confines; 8
per cent. loan. 80 francs s6 centimes
ssllar aueted - ~ erancs ~ confines.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
TO WHOM 1T MAY CONCERN.

Tho undersigned. pursuant to Section 34f.
Article Job OF the Insurance Law Of tho
state OF New York. hereby publish notice OF
our intention TO form n corporation for the
purpose OF making insurance on the mutual
plan. upon or pertaining 20 automobiles,
against loss or damage resulting from accl.
dent 70. or injury suffered by. any person,
and for which the person insured II LIABLE
against loss by burglary or theft or both OF
such hazards; against loss or damage 10
automobiles Except loss or damage by fire
or while being transported In any convey.
rnce by land OF water). Including loss by
legal liability for damage 10 property result.
ing from the maintenance and uso OF auto
<.o,f1cn
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
CHANGES IN WHITE OIL co.

a director OF tho White OIL Corporation
TO fill vacancy. J. w. Colvin, vice
president, has resigned, but win con-
tinue with the corporation for a time
In an advisory capacity. Sales hereto
fore under Mr.. Coiv'n's direction wifi
be in charge Of =. II. Bethel, vice.
presidenk Us.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
Gets Car Order.

The American Car and Foundry Com
pany has received from the Louisville
and Nashville Railroad Company an
order for 1900 box cars.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
PENNSYLVANIA OIL MARKET.

on CrY. Pa. Feb t~--crsdit bsl-
anccs, y4.75. Runs, $3.50; avsrags.
so.725. Shipments, 27.ssSs svsrsgS.
2A.657. ~.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
Guaranty Trust Company
of New York
CoPARTNERsHn NOTICE.

TO. WHOM IT MAY CONCERN:
The undersigned. pursuant to Section 321,
Article t0-A OF the Insurance Law OF the
State of New York, hereby publish notice OF
our Intention 70 form a corporation for the
purpose of making insurance the mutual
plan. upon pertaining 70 automobiles,
against all any OF the hazards OF fire,
explosion. transportation. collision. loss by
legal liability for damage TO property re-
sulting from tho maintenance and use OF
automobiles. and loss by burglary or theft
or both. Including all any Of the risks OF
lake. river. canal, inland and ocean navi-
CATION and transportation. but not including
Insurance against loss by reason OF bodily
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05

CALL MONEY.
OVERWHELMINGLY. stYear's high-.......- 9
Low .............. slYear's low.
TIME LOANS.
Mixed collateral. 90 10 90 days. ....... .6hGI
Mixed collateral. 4 TO months. .6laU7
Industrials 60 to 90 days. .........--..
Industrfais, to O months. ............
COMMERCIAL PAPER.
Best names. to o months. ............. ~
Other names, 3 to o months. ......-.--... "a
DISCOUNT RATES. RESERVE BANK.
Commercial paper. 10 days. 2; 10 to 20
DAYS Z. Liberty bonds and Victory notes.
10 days, g; 10 to 10 days, 9. Bankers 40
ceptances, 10 20 90 days. O.
OPEN MARKET RATES.
Prime eligible acceptanccs, on call, 81: re-
Accountable nj Reserve Bank. 60 10 30 days,
6it0f6; non-membcrs and private bankers.
eligible, 60 70 90 days, 63stOk: non-eligible,
60 to 90 days, s11h.
CLEARING HOUSE STATEMENT.
Clearing House exchanges, 1852. 5iS. 384:
baiancee. SCI, 1884, 053; Federal reserve credit
balances, Sol, 43i .2DS.
SILVER MARKET.
Official bar silver In New York. domestic,
qailc an ounce, unchanged; foreign, Coo,
or axe; London, 36Ad.. off ND; Mexican
dollars, f5Nc, off 2Ac.
The range OF silver prices this year:
Highest. Lowest
London ........ .42isd. Jan. 3 34ikd. Feb.
New York. .GsSsc. Jan. 5IStc. FEB.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
NEW YORK STOCK EXCHANGE QUOTATIONS


FRIDAY. FEBRUARY a, 1921.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-02-05
MONEY MARKET.

FRIDAY. FEBRUARY 4.
CALL MONEY.
The Daytona daily news., 1921-02-16
BIG NIGHT TONIGHT
AT ELkS' CHARITY
FAIR FOR military

Tie biggest night of the fair. IS
The slogan Of the military men 81 the
Triple Cities. in respect Is this even
ing 5 program at the great Elhs char
ity Fair. which has been st aside for
the American Legion the National
Guard and all ex-seryice men.
Al National Guardsmen II the First
Seperate Company have been re
quested 70 meet al the American Leg
ion clubrooms on North Beach street
at 7:So sharp, iii uniform LikeW
All members 81 the American Legion
win meet AT the sarnc pla e 4ud ti.re
aud all eXscrvice men not members
uf the Legion are especially extended
an invitation to meet al the same time
to join their fellow comrades that au
may march "a body To the Armary
FOR the fair tonight. which Wiz shine
in all its splendof foI The men vao
have placed. and are placing their
lives in the hands Of Their country.
Last evening was lodge night wiih
the Eastern Star and Masonic Lodge
and the Prince George Hotel holding
sway. hundreds enjoying tba fuu ee
the evening which was brought ta "a
close with big dance uptil midnight
Thursday evening viii be destgI.at-
ed Palmetto Club. Princess lsaeaa.
and Clarendon night" at the fair at
which time MANY from tAe his Sea.
brteze hotels, and sron tbe vamaa IS
clubs VIII attend.
Many o. The prizes ar= being dganu
each night. adding interest iu the at
fair. W hich VIII be brought 90 CLOSE
ou Saturday evening.
Evening journal., 1921-05-28
Sure, You're a Hobo!
Only You Resist 1t

DIR. Davenport's data show, as
was to be expected. that these peri
odic inhibitory disturbances are as
sociated in the nomadic individual or
his family relations with other trou-
bles Of a periodic nature such as
epilepsy. hysteria, periodic insanity,
dipsomania, etc.
These diseases have at times been
considered as causes OF nomadism,
but they are rather concomitants or
at the most weakening conditions
which permits the nomadic Impulses
to appear.
The inborn tendency TO wander
is an inherited trait appearing for
the most part in the male sex Thus
DR. Davenport found 16S male no.
madics to Is female
Different occupations attract fol-
lowers differently endowed in this
respect; the seaman. the explorer,
the travelling salesman. and the mis-
sionary stand in contrast with the
clerk. the shopkeeper, the farmer
and the sedentary pastor
Careful study reveals that the
wanderings OF the farmer are not so
much due to the nature Of their oc-
cupations as 10 the fact that they
chose such occupations because of
nomadic predispositions and innate.
restless impulses
Evening journal., 1921-05-28
INTEREST IN
CHOOSING Of
CHANCELLOR
Ccontinued from First Page)

CContinued from First Page)
fications OF Mr.. Wolcott for that
Office.
Friends OF Chancellor Charles NJ.
Curtis among members of the Bar
yesterday afternoon started a petit
ton asking the Governor TO reap
point him. While some lawyers have
signed it, it was said today that
others were Withholding their sigma
lures. as they did not care 20 commit
themselves at this time.
Meanwhile some members of the
Bar were urging the names Of friends
for consideration in connection with
the chanceilorship. One name sug-
gested is that OF Caleb S. Layton, OF
the firm OF Marvel. Marvel and Lay.
ton. He is a son OF Congressman
Caleb r. Layton. OF GEORGETOWN. and
brother OF Daniel j. Layton Of thai
town. Another name mentioned IL
that OF Reuben Satterthwaite, Jr.
A Philadelphia newspaper this
morning suggested that Judge Dam
iel o. Hastings was seeking the
chanceilorship. When the judge was
asked about Il he remarked: 1T is
ridiculous. haven't considered it,"
Senator L. Heisler Ball in Wash
lngton yesterday made the following
statement regarding stories in a
Philadelphia newspaper purportine
TO show that the Senator and Gen.
eral T. Coleman DUPONT are on the
outs"
The relations between General
dupont and myself were never
more cordial. Any attempt. to
make it appear otherwise be-
trays either gross ignorance Of
our relation or a malevolent de-
sire 10 create mischief.
I'VE have a complete under
standing as to appointments and
all other matters concerning the
party In Delaware.
1T seems most unfortunate
that the appointment OF my col
league 20 the bench should have
been taken advantage of as a
basis for wild aid utterly untrue
statements regarding General
dupont"
Evening journal., 1921-05-28
MANY STATE WOMEN
SEW FOR EUROPE

One OF the most recent Red Cross
branches of the Delaware Chapter
TO reorgauize for the clothing appeal
for the children Of Europe is the
Milford Branch. At the headquar-
ters, Old City Han. Sixth and Mar
ket streets, yesterday. a letter came
from the Milford Branch requesting
that supplies be sent them at once.
as they were greatly Interested in
the child welfare work of Europe
Word has been received from the
Union Park Garden Century Club
that The club will devote one after
noon a week to Red Cross sewing
The Dover Branch also has reorgan-
ized and is making garments. In
addition TO the branches and auxil-
iarics IN the State many individuals
h@ro applied at the headquarters
for materials. both for sewing and
knitting chndren's sweaters and
eocks
Monday being a holiday. Red
Gross headquarters will be closed.
but VIII be open again on Tuesday
morning During June. : Is hoped
that every Delaware woman viii as
Elst with AZ least one garment