davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1921-12-18

ceipts, 1OS92; exports, 2S,445; sales, 36S stock, 376,52s.
 Mobile; Middling. 16.75c; receipts. 561 sales 12; stock, 15.933.
 Savannah Middllng. 17.75c; re- oeipts, 1.767; sales 523. stock, 163,- 69O
 Charleston: Middling. 17.60ci re- ceipts 294: stock, 1ts,47I.
 Wilmington: Auddling, 17.25c: re- eeipts 43S; stock 4O,24l
 Texas City Stock, 12.270.
 Baltimore Exports. 100; stock, 2.474.
 Boston: Anddling. 1s.sOc; receipts, 3S5 stock. $500.
 Norfolk Mlddling. 17.75c; receipts. i,416 exports. 1.54o; sales 665; stock. 185.S35
 Philadelphia; Receipts, 114; stock. f2.52s.
 New York: MlddlIng, 1s.76o; stock, s7.070.
 Minor ports: Stock. 2150.
 Total today; Receipts. 21.sss; eN- ports, 25,085; stock, 1.S62139.
 Total for week; Receipts. 21,9Ss; exports. 25,Os5.,
 Total for season. Receipts, s,7s2.- 576; exports, 2,6ss,76s.
The Birmingham age-herald., 1921-12-18
INFERIOR MovEMENF
By AssooIated Press


 Houston: Mlddling, 1Sc: receipts. S,576; shipments, 6,561: salesn 2,474; stock. s12,Ts4.
 Memphis: Middling, Isc; receipts, s,375; shipments. 4,5s4; sales, TOO; stock. 2e6,360.
 Augusta: Middling, 1T.68oi receipts, 1,s72; shipments, 1.1oe; sales, 1sS; stock. 144,6To.
 St. Louis: Middlins, 1so; receipts, 2.ss2, shipments. a,S21; stock. s4.- 6S2.
 Atlantai Middling, 1s.2So. Little Rock: Mlddling, 1Soi re- eeipts. ess; shipments. 1.s2o; sales, 977; stock, 6e,s56.
 Dallas: Middling, 1T.5oci sales, 4,o4s. Montgomery: Middiing. 1T.2b. Total today: Receipts, 1e.744' shipments, IT. .O45J stock. sos,1eo.
The Birmingham age-herald., 1921-12-18
TRADING WAS LIGHT
 IN ALL GRAIN LISTS IN TIE CHICAGO PIT
Wheat and Oats Closed at Fractional Gains While Corn Dropped 0ff-Pro-
 visions on a SeeSaW
By Associated Press

Chicago, December 17.-Trade in all lines was light on the Chicago Board of Trade today. Wheat finished 1-4 to 1-Sc lower, oats 1-S to 1-4 higher, and provisions un- changed to 10 higher.
 Wheat started easy and after an initial furry turned heavy. sagging slowly until half an hour before the close when sharp break was re- corded. In the final 30 minutes evening up and some buying influ- enced by export news caused re- aotoin in which the losses were generally reganed,
 The trade was singularly indif- ferent to news that 2,250,000 bush els of wheat had been booked for export in two days and the North eastern Grain Dealers associations report at Winnipeg on Canadian production and reserves were also ignored. It was pointed out, how ever that the grain dealers had based their figures on the old acre age, whereas government figures showed some 4.500.O0O acres excess and 1t was argued that this made the two reports about equal.
 Sharpshooters in the pits have developed a favorite spread of sell ing May against purchases of July wheat. As a consequence the latter option has been gaining strength.
 Heavy rains, making country roads impossible, helped to hold corn firm. Towards the end, how ever, the break in wheat, coupled with the fact that export bids were below working basis, turned that grain heavy. Oats were dull and merely followed corn. Provisions fluetuated within narrow limits.
The Birmingham age-herald., 1921-12-18
By Associated Press

Baltimore, December I7,-The local financial district has been hearing rumors of a proposed consolidation in the fertilizer in- dustry for several days. but there is lack of detailed information. Leaders in the industry here ad- mitted today that tentative ef- forts" were being made to get to- gether. but nothing more definite could he learned. According to the reports, headquarters of the proposed organization will he in Baltimore. Plants understood to be affected by the combination are located in Atlanta, Savannah, Baltimore. Charleston, $. C.; Co., lumbus. O.; Louisville, Ky; Nash vile, Tenn. and other cities. A lower price for fertilizer through maximum efficiency of operation Is snid to be one of the objects sonGht by those interested in the proposed merger.
 Washington, December I7.--A hill authorizing the President to expend s2O,0D0,OOO out of the hhHbH Ol Ane Inltcu StateS NNra1n corporation for relief of the dis tressed and starving people of Russia was passed late today by the House, 1I4 to 51.
 Paris. December 17.-The allies rcpRrntiOns commission has re- fused to consider Gerlnany's re- quest for an extension of time on her January and February repar- ationr payments until the German government tells just whnt she can pay on these installments and gives other information. This de- veIoped when the text of the com- mission's note to the Berlin gov ernment wns made public today.
 savannah, Ga, December IT, The Commercial hank posted a notice today that it hnd been closed by direction of the state bank examiner, W. F. Reilly. The cashier of the bank recently dis
The Birmingham age-herald., 1921-12-18
DOES THIS APPLY TO YOU,

Jacob Penn, in Leslie's Weekly.
 If. after a real heart searching, you can satisfy yourself that you fully deserve promotion, then go to your employer or head of your de- partment, whoever is your immediate superior. and quietly state your case. The chances are your wishes will be granted.
 Of course, human fraflties overleap all bounds~sometimes. and it may be that your immediate superior. for some reason probably known to him. self only cherishes an unfriendly feeling toward you. I have known of such cases where both men and women were the principals.s If you feel that you can expect little en- couragement from your immediate superior, present your case by letter to the person next in rank, stating the reason for your action. If you are right, and your service is satis- factory. you will not only hear from him. but you will also obtain your merited promotion.
The Birmingham age-herald., 1921-12-18
Reserue Excess Has
 Increased Past Week
By Associated Press

New York, December 1.-The &C., tual condition of clearing house. banks and trust companies for the week shows that they hold s3703s,- 400 In reserve in excess of legal re- quirements. This Is an increase of s26, ,756,390 from last week. The state- ment follows:
 Actual conditions: Loans, discounts, etc., $4,469, 670.000; Increase s74,036,- 900. Cash in own vaults. members federal reserve bank, $76,512,000; in- crease s1,202,000. Reserve In federal reserve bank of member banks s534.- 123,O0o; increase s39.166.o0o. Reserve in own vaults: State banks and trust companies ss,951.0O0; increase s67. 900. Reserve in depositaries: State banks and trust companies sS,691 000: increase s125.000 Net demand de- poists s3,S93, ,605.O00 increase s9s.- 310,000. Time deposits. S217822 900; decrease s4,604,000. Circulation s33.- 269 900; increase s25,000 United States deposits deducted $99,1S9,00 Aggregate reserve $551,765,000. Ex- cess reserve s37.039. 400; increase s26,- 756, 3e0.
 Summary of state banks and trust companies in greater New York not included in clearing house state- ment:
 Loans. discounts, etc. ss4o,43S,soo: decrease s1.043,000 Gold s49s6SO0; increase s70,5oO. Currency and bank notes s17.9s4.500; increase s603, 500. Deposits with federal reserve bank, New York. s56,718,400; increase s3,- 759, 100. Total deposits $675,212,200; increase s4.759,100.
 Eliminating amounts due from re- serve depositaries and other banks and trust companies. New York and United States: Deposits s632.s15,- 200; increase s4,43S,s00. Banks: Cash in vault s2s,293,5o0. Trust companies: Cash in vault s51.3ss.2 200.
The Birmingham age-herald., 1921-12-18
MARKET SIDELIGHTS M WORLD WIDE TRADING
appeared and is under indictment for an alleged shortage.

appeared and is under indictment for an alleged shortage.
 Washington, December IT, Permission was given today by the interstate commerce comnis- sion to the Cumberland Telephone company, the Chesapeake and PO- tOmac Telephone company and the Bristol Telephone company to consolidate several Tennessee and Virginia plants in towns sur rounding Bristol. Nn.-TenD-
 Havana. Cubas December IT, Abolition of the sugar finance commission is still being cOnsid- cred by the President, but aS yet no date hnS been officially set for terminating its control over the surplus from last years "crop," it was stated today at the Presi- dents mansion. It has been re- ported at various times during the k0st month that the commits sion would be dissolved on De cember I5 or December 31, hut in regard to these reports official confirmation has been lacking.
 Washington. December 17.-In- terstate Commerce Commissioner Hall, presiding at today's session of the commissions investigation into the reasonabirify of trans port charges. ruled thnt partfci- paung shippers might also file |. individual complaints concerningS pnrticuiar rates and prosecute them in the ordinary way. c. F. Capps, vice president of the Sea board Air Line, appearing ns the second witness for southern rail- ronds, declared that operations in that territory since the increases of 1920 had yielded the railroads scarcely per cent on their prop erty value.
 Havana, December I7.-RaIIwny rates prevailing before Cuba en- tered the war are re-estabIished under bill, the passage of which has been completed by Congress. The measure had been vetoed by former President MenocnI.
The Birmingham age-herald., 1921-12-18

New York, December 17.-There was no change in local raw sugar marke s today and no fresh business came to light, uncoptrolled Cubas was quoted at 3.67c for centrifugal on tne spot, while later shipments were quoted at $500. The committees price was 24 c, cost and freight, equal to 3S5c for centrifugal.
 There was only a slight trade in raw sugar futures and operations appeared to be in the form of evening up. Near months were lower under scattered liquidation. while later de- liveries were steadier on covering. Final prices were points lower to ? points net higher. January and March closed at 214c: May, 2.26c; July, 2.39c.
 There was only~a moderate inquiry for refined sugar and prices were un- changed at 5.10c for fine graniilated.
 Refined futures were unchanged with no sales. January, 5c; March, 5.10c; May, 5.25s.
The Birmingham age-herald., 1921-12-18
THE WORLDS GREATEST OIL
 FELD---MEXIA, TEXAS
5000 to 20 o,ooo- BarroI Gushers Coming in
 Almost Dailyl

Numerous companies are making snor- nous fortunes in this field. Mexia has grown from a population of 8,700 to nearly bo.0O0 within 10 daysl A million dollars worth of freight shipments arriving weekly. The oWENWooD MAGAZINE contains the fascinating story of this wonder oil field. This 6s-paze magazine profusely illustrated, has the largest cir culation of any oil publication in the world. Price 25e a copy. Special Decem- ber souvenir issue FREE on request. Write at once. Editor 0wenwood Maga- zine. 135 owenwood Building, Fort Worth, Texas.--Adv.
The Birmingham age-herald., 1921-12-18
DRY GOODS

FtT NEHUHIHLNN Tr&NH
 New York. December ty-cotto@ goods closed steady today, with tradS of moderate volume. Yarna have been bought more freely this weak at low prioeA The burlap marketS were fairly steady. si1k produGtS were priced higher. but Eslss res stricted, In wool goods markets slow progress haa been made towarda showing fall, 1sa2. lines. The ready to-wear trade was qnIst.
The Birmingham age-herald., 1921-12-18
COTTON SEED OIL Nv Assocjatefl Press

New York, December 17.-Cotton seed oil was lower under liauida ton due to a bearish interpretation of the census report which indicated con sumption of about 179.0 barrels dur ing November. which was consider ably smaller than anticipated. Aside from covering the demand was slow and final prices were 13 to l5 points net lower. Sales were 1000 barrels. Prime crude. S.75c, nominal, prime summer yellow spot, s.10@s.50c; Jan uary, s.24c: March. s.61c; May, s.s2c, all bid.
The Birmingham age-herald., 1921-12-18
NEW yoRRs THEATRICAL FART

Brander Matthews, in the North
 American Review.
 The theatres of New York offer . larger variety of dramatic fare than can be seen in, A single season in any of the capitals of Europe. We do not get as many or aH adequate perform ances of Shak kespeare's comedies and tragedies as we ought to have. all though it is sadly impoverished winter in which we do not see half a score RhRkesperean plays. We rarely have a chance to revive our memories of the. so-oalled "old come dies" which Lester Wallaok and Au- gustin Daily kept in their rspertoires 40 years ago ana of which the tradi- tions are destined to be lost unless they are rescued. But as an offset to these defioiences wo have set be- fore us avery season vary varied bill oE fare, to tempt Appetites of all sorts land conditions of playgoers, whether they have sturdy Btomachs for the solid meat or exotic problem plays or whether their palate Is more easily affiliated by the he~whipped sylla- bub of poetic fantasy.
The Birmingham age-herald., 1921-12-18

Electric signs afford one of the most effective ways of advertising. but their cost and upkeep are often prohibitive. A sign recently tried out with success replaces the individual lamps in the rim of the letter with small mirror reflectors. according to the December Popular Mechanics Magazine. These reflect the light supplied by two. 25-watt lamps, placed near the center of the letter and~fitted with opaque caps so as to be invisi- ble from the front. An arrangement of this kind will effect considerable saving in lamp renewals and current consumption.
The Birmingham age-herald., 1921-12-18
Nothing Unusual Ouer
 Wires Yesterday
HUBBARDs HETrrR

New York, December IT. - (Spe- cial)-The> market proved stronger today than for some time past and 1t would Seem ttat the government figures on the ultimate yield have been disregarded to a great extent. The trade is now looking forward to a better demand for goods after the first of the year. However, we did receive advice from Texas to- day that the spot basis was a little easier but we feel that 1t Is only temporarily and that the basis will improve steadily from now on.
 We think market has improved to some extent and taking all things Into consideration we feel that the market will advance from these Bros. & Co.
The Birmingham age-herald., 1921-12-18
Hubbard Bros. & Co.

Members New York Cotton Exchange. New Orleans Cotton Exchange, New York Pro duce Exchange. Associated Members Liverpool Cotton Association. orders so- licited for the purchase and sals of Cotton and Cotton Seed oil for future delivery. Special attention and liberal tssans given for consignment of spot cotton for de- livery.
The Birmingham age-herald., 1921-12-18
FOREIGN EXCHANGE

New York. December 17.-Foreign exchange strong. Great Britain de- mand 4.17%; cables 4.1sh: 60-day bills on banks 4.14ss. France demand 7.s612; cables 7.S7. Italy demand 4.54 #; cables 4.55. Belgium demand 7.55Aa; cables 7.56. Germany demand 501k: cables 51. Holland demand 36.55; cables 36.61. Norway demand 15.42; Sweden demand 24.65; Denmark demand 1860; Switzerland demand 19.45; Spain demand 14.70; Greece de- mand 422; Argentine demand 33.25; Brazil demand 12.75 Montreal de- mand 92 1916.
The Birmingham age-herald., 1921-12-18
NEW YORK BONDS RN AaSnciutal llrnn


 U. s. 2s. registered, bid ........... 1o1% '. s. 2s, coupon. bid ............... 1O1X U. s, As. registered, bid ........... IO4K U. $. As, coupon, bid ...,.....r.... 1O4h Panama 3s. registered bid. ....... 80 Panams Ss. coupon bid ........ so Amer. Smelt. & Ref. 5s ........... ssB Amer. Tel. & Tel cv. 6s .......... 1os Atchison gen. 4s ............. s5h Atlantic Coast Line 1st As. bid ... SAX Baltimore & Ohio cv. 4hs ........ 75K Bethlehem Steel ref. 5s ........... 901s Central GentraI of Georgia consol 6s go Chesapeake & Ohio ev 5s ,...... s5 Chicago, Mil. St. P. ev. 4ks ..... si% Colorado & Southern ref. 4i3s ~ s5 Denver &, Rio Grande consol. 4s bid 72h Dominion of Canada 5s (19sD .... 95A fire E,le sen; 4s -, ...-#.... ..'.'.. 4S Int, Mer. Marine 6s ............ 53% Kansas City Southern ref. 5s .. s4i5 lsiggette X Myers 5s ..s............. SPA Louisville X Nashville un. 4s ..,.. 9S1I Missouri, Kar. x Texas 1st 4s ..... TAX Missouri Pac. gen. 4s ......i...... 61 New York Central deb. ss ........ 99 Norfolk 6 Western CIV. 6s .......... 1O5h Northern Pacific As ........... s3% Pennsylvania gen. 5s ............ 94% Reading gen. As .................. s2N Republic Iron & Steel 5s t1e4o) bid 92% St. Louis 6 San Fran. adj. ss Did =. i5T Southern Bell Tel. 5s, bid ........ 94M Southern Pacific cy. 5s, bid ..... 961h Southern Railway 5s ........... s9 Southern Railway gen. 4s ........ 62 Texas & Pacific 1st 5s, bid ....l.. s9 Union Pacific As ............ S7X United Kingdom of c. B. & I. 5hs
 " staaii .....,.''''.'t.. 95h Virginia -Caroiins Chemical 5s, bid s4R Wabash 1st 5s. bid ........ g3 Wilson & Co. cv. 6s bid .. s7%
The Birmingham age-herald., 1921-12-18
RICE MARKET


 New Orleans, December 17.- Rough rice strong. No sales. Re- ceipts s.427 sacks. Millers receipts same. Clean rice strong. Sales re- ported: 500 pockets Honduras at A @6%c; 1899 pockets Blue Rose at 1A @4%c; s1 pockets Fortuna at 6 6Ac Receipts 4,s74 pockets. Bran, per ton, SIP; polish. per ton, SPA.
The Birmingham age-herald., 1921-12-18
Standard oil of California. The n,

Standard oil of California. The news slips contain a very optimistic view of their land holdings On the other hand. the sugar shares have been heavy and that situation seems to Be a long and doubtful pull.
 At to the outlook. we certainly have had as yet nothing of the proverbial December reaction, and 1t looks as if in the place of it we have had the equally conventional January rise ahead of time. It remains to be seen, therefore, after the turn of the year whether the market. doing so well this month, has somewhat anticipates conditions, and will work easier then Certainly as yet no reactionary ten- dency has eveloped-Shannon & Co.
The Birmingham age-herald., 1921-12-18
POTATOES
By Associated Press

Chicago. December IT. Potatoes steady; Wisconsin sacked round whites s1.70@1.S0; Minnesota sacked round whites and Red Rivers s160@ ITO. Idaho sacked russets $2Q2.15.
The Birmingham age-herald., 1921-12-18
NAVAL STORES
By Associated Press
Savannah

Savannah, Ga. December 17-Tur- pentine firm, 74hc; sales 167 re- ceipts 2s6; shipments IT; stock 12,- BIO. Resin firm: sales 1,010; receipts 1,439; shipments 103: stock 7e,993
 Quote B to I. s4.05; K. s4.s0; M, s5.2o; N. s5.35: VIC, s5.s0; wv, s5.9o.
The Birmingham age-herald., 1921-12-18
SUGAR MARKET
By Associated Press

New York, December 17.-Raw Sugar unchanged at S.soc for centri- fugal spot and 3.6sc for centrifirga al committees price. Refined un-
The Birmingham age-herald., 1921-12-18
NEW ORLEANS COTTON h. 4 n----

New Orleans December 1.-The mar ket closed steady at net advance of 2a 10 41 pointa.
The Birmingham age-herald., 1921-12-18
CHICAGO GRAIN Nv Associated Press
CASH GRAIN A..oatotad nraaa

Chicago. December 17.-Wheat, no sales reported. Corn, No. mixed, 47@471sc; No 2 yellow, 47A @4Sc. Oats. No. ? white, 36@37hc; No. white. 34@s5c. Rye, nominal. Barley 45@52c Timothy seed, $500 0@6.10. Clover seed, s12.5o91S.50. Pork, nom- inal. Lard. $S.65@S.7o. Ribs, s7.259 S.25.
The Birmingham age-herald., 1921-12-18

St. Louis, December 47.-Wheat, No. 3 red, s112@L16; December S1.o9; May, s1.10%. Corn. No. 2 white. 47c; December 47c; May 51Ss @51%c. Oats. No. white, 351Ac; December S4hc; May 39cc
The Birmingham age-herald., 1921-12-18
SPOT COTTON Rv Aaa.oga q p~...

New Orleans, December 17.-Spot cotton steady. 25 points higher; sales on the spot, 425 bales; to arrive, 1907. Low middling. 15.25c; middling. 17.25c; good middling, 1s.25c.
The Birmingham age-herald., 1921-12-18
LIVE STOCK By Associated Press

Chicago, December 17-Cattle, re- ceipts 1000. Compared to week ago.: Beef steers mostly 50c to s1 lower, medium and good grades showing de- cline, strictly common steels little changed, she stock generally 25 to soc lowers veal calves steady, heavy calves sharply lower, stockers and feeders strong to 25c higher. bulls 25 to soc higher.
 Hog, receipts 5000. Opened steady to 1Oc higher than yesterdays aver age, closing slow and 10 to 15c lower than early. Shippers bought about 7,500. Holdover light. Top s7.30 for light lights, ITO pound average up to s7.15: bulk of sales $6.50@7.00. Pigs, steady to 10c higher; bulk desirables s72o07.30, with some at $7.40.
 Sheep. receipts 5000, mostly pack CTS direct. Compared with week ago: Fat lambs. $1.00 to s1.25 lower; fat yearliDgs. 75c to sl lower; fat sheep, 50 to 75c lower; feeder lamps, soc higher.
 East St. Louis. H.. December 17.- Cattle, receipts $50. Compared to week ago: Steers, beef cows and bulls, 25 to soc lower; light yearline steers and heifers. 50 to 75c. lower; canners, 25c lower; stockers and feeders. steady: light veal calves. s1 to sl.50 lower; heavies, soc higher.
 Hog receipts 5000, closing after A very weak start. active 5 to 1oc high CT; top s7.S5 on light lights; s7.15 practical butcher top: bulk s1.so and down weights sold s7.00@7.25: bulk lS0 to 25o pound average. s6.5O@7.35; quality good: clearings fair.
 Sheep, receipts nothing. Compared to week ago. market 50 to 75c lower
The Birmingham age-herald., 1921-12-18
SPOT COFFEE
SUGAR MARKET

New York, December f7.-Coffee. Rio No. ', 95-16c.
The Birmingham age-herald., 1921-12-18

By Associated Press New Orleans: Middling, 1725c; re- cepts, 6,177; sales, 2.332; stock. 3S9,- 654.
 Galveston: Middling, 1S.15c; re-
The Birmingham age-herald., 1921-12-18
BAR SILVER
BRILLIANT ELECTRIC SIGN

ny ASsOcidteu GreSs New York. December 17.-Forei barver, 67c; Mexican dollars, 5lc.
The Birmingham age-herald., 1921-12-18
PRODUCE By Associated Press

New York, December 17.-Butter weak; creamery higher than extras; creamery extras 44u0 44c; creamery firsts 37@4Skc. Eggs firm; fresh gathered extra firsts 56@ 5Sc; firsts 51 O D55c. Cheese steady; average run 201a Q21c. Live and dressed poultry quiet; prices unchanged.
The Birmingham age-herald., 1921-12-18
PORT MOVEMENT

New York, December 1f-Spot cot ton steady. Middling, 18.75o. d,
The Birmingham age-herald., 1921-12-18

Chicago, December 17.-Butter low CT; creamery extras 4Sc; firsts 34@ 41c; standards 37c.
The Birmingham age-herald., 1921-12-18
s. R. STEWART 3 CO.'S LETTER

Birmingham, December 17.-Our markets opened about unchanged and ruled strong during the entire short session. closing 40 to 50 points above yesterdays finals Small ginning, rising spots. stronger basis and bullish weekend figures along with heavy buying of Janu- ary in the second hour and short covering were the cause of the New York was fofced IS points over March. which stimulated buying fin the whole list. Many stop orders were reached over the IS cent level in the northern market and this helped the advance.
 The demand for Jnauary came largely from domestic and foreign spot people covering hedges either calling cotton or transferring them to the late months. Straddlers cov- ering short January contributed to the run up. Bullish developments were not considered highly impor- tant. The trend of the market will look toward much higher levels. The technical position of the market is much relieved but underlying com ditions warrant purchases on re- actions.---S. R. Stewart & Go.
 
 SHANNON & CO.'S LETTER
 New York, December 17.-(SpeciaD The cotton market exhibits the usual irregularity with much of the busi- ness Consisting of switches. Fluctua- tions are less wide and cratic; how ever, and steadiness for time is the most essential requisite. A rush upward Is hardly more desirable at this time than a plunge downward. Considerable transferring of hedges from January to March is reported.
 A message from Greenville, s. C.. reported cotton blooming a second time, and a second crop of cherries. Such conditions would seem ideal for the weevil also. There Is little to comment upon and our feeling re- mains the same that spring and sum mer months should be bought on good recessions when they occur.
 Trading in stocks today has been reasonably active for Saturday, and prices in the main firm, though somewhat irregular. American Lin seed has been strong and 1t looks as>if this company were getting back into shape again. The management has always been so conservative that the passing of the dividend is no doubt a part caution, as well as ne- cessity Pacific Oil has acted won- derfully we'll of late. and there is report of further buying by the