davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-02-28
New York Stores
Report Drop in
Value of Sales
Distribution of Merchandise
ON Wider Scale Because of
Lower Price Range, Says
Federal Reserve Bank

Although net sales in money value by
department stores in New York and
Brooklyn reported to the Second Fed
eral Reserve Bank declined SIS per cent
in January. 1921, compared to Janu-
ary, 1920, the decrease in stores else
where in the district was but 1.5 per
cent. The average in the entire dis
trict showed a 5.3 per cent decrease.
The preliminary reports Of February
sales indicate a continued tendency to
decrease.
when allowance is made for price
changes" says the March business re-
view issued by the bank, at is prob
able that these sales represent total
volume of merchandise larger than that
sold in the corresponding months last
year"
Stocks at the close of January this
year were II per cent below those of
last year for the district as a whole,
20 per cent outside of New York and
Brooklyn and 9.5 per cent in those two
cities. Compared with the close of
December, 1920, stocks on January 81
this year were 81 per cent less in New
York and Brooklyn, 81 per cent less
elsewhere in the district and 7.6 per
cent less for the district as a whole.
The stocks on hand on January 81,
compared to net sales for the month,
were 1858 per cent in New York and
brooklyn; 351.3 per cent elsewhere,
and 325 per cent as an average for the
district. Compared with many of the
months last year this relation shows a
startling decrease, having reached
more than 400 per cent in some months.
Outstanding orders in New York and
Brooklyn stores at the close of January
were but 5.5 per cent of the total pur-
chases for the calendar year of 1920
and III per cent elsewhere in the dis
trict giving an average of 81 per cent
for the entire district.
Supplementary data submitted by
fifteen stores" says the bank, "show
that there were IL per cent more
transactions than in January, 1920. The
actual increase in volume of sales may
be even greater than is indicated by the
number OF transactions as there is a
tendency on the part of the public to
buy more articles at each purchase as
prices become lower One large store
reports that in January, 1920, the aver
age number of pairs or hosiery sold at
each transaction indicates that the pur-
chaser of two pairs year ago now
buys three.
"Changes from January of last year
IN the dollar value of stocks are part
ly due to the decline in prices, and
the volume of merchandise on hand is
reported to be at least equal to what it
was at that time.
"Merchants report that competition is
much more intense than it was few
months ago and they are selling at a
smaller profit and keeping goods III
stock shorter time. This is shown
by the percentage of total stocks on
hand to net sales which indicates a
present turnover Of stock at the rate Of
about four times a year.
Outstanding orders are about Z
per cent below what is normal at this
TIME Of year. Usually orders placed
at the end Of January amount to about
- per cent of the years purchases, as
merchants buy large proportion of
spring merchandise during that mon:n
for later delivery"
New-York tribune., 1921-02-28
Apparel

Activity in the apparel markets las.
week was centered largely on wompn,,
dresses, (which continue in strono 4,
mand among retailers who are nro
pairing for the Easter season Pro
duction is retarded by labor trouble.
but the entering of the dress field bg
manufacturers of other garments la.
augmented the supply. Wash dresses
IN particular, have sold well and soma
manufacturers are booked ahead for
two months and others have witbdr,wn
their lines from sale.
Cloaks, suits and waists continr.
sluggish, although activity amono tboe.
individual producers who have broncbt
out good merchandise at low prices i.
marked. Some liquidation Of surnlns
woolen and silk supplies is reported
among the garment manufacturers
through the process of converting these
goods into garments and Offering them
below replacement values.
Tne mems clothing market is max.
ing slow progress on spring goods. Pro.
duction already has begun in manv
markets and some buying is still IN
progress. 1t is conceded that fewer
garments will be sold to retailers this
year unless an unexpected denand
manlfests itself in the next month
summer suits of mohair, Palm Beach
tropical worsteds and similar fabric,
have been well bought by retailers and
manutacturers appear we'll satisfied
with the course of trade in such mer.
chandise.
Apparel retailers are still offering
winter stocks at reductions which are
expected to make spring goods lool
high in the eyes of consumers. Thi,
IS enc OF the points of uncertaint,
confronting retailers about to ente,
the spring season. wa
New-York tribune., 1921-02-28

A moderate revival of buying for
the Easter holidays has been shown in
the retail line. Although in some
lines of jewelry the sales have equalled
those at this time last year, the volume
OF business IN general is still below
that in 1920. This renewed buying on
the part of the public, has had little
effect IN the wholesale line, since the
retailer is now enabled to rid himself
OF part OF the large stock which had
been on his hands
Orders sent to wholesalers indicated
that the retailer is ordering only fer
immediate needs. One manufactures
expressed the opinion that the retailer
is holding off buying in large quantities
IN the anticipation of a price redue-
ton.
A reduction in the working week Of
the Oneida Community, Ltd. silver
ware manufacturers, TO four days has
been made in order to curtail produc
ton to correspond with current orders.
Silver workers, who have been out
since january I, have not as yet Sc
guessed in the lengthening Of their
working week four hours with no COM
pensation for the extra time. Silver
smiths who have been affected by this
disagreement are said TO be employ
ing new help. leading silversmita
SAID that much of his work was being
sent to New England manufacturers.
watch manufacturer, representing
the leading American watchmakers, bas
recommended. before the Ways and
Means Committee at Washington, that
the rates of duty on watch movements,
which, under the present law are al
valorem, be changed to specific duties.
and that specific duties should be pro-
vided for each grade of movements as
classified, to enable them to compete
in prices with foreign makers. a
change in the classification of the
watch schedule from Schedule G 20
Schedule n of the tariff bill was rec
commended The rates recommended
are said to he generally based on the
pre-war basis.
A committee, representing the Amer
lean Manufacturers of Imitation PEARS
and Fusible Enamels of New York, has
recommended before the Ways ana
Means Committee. that provision be
made for combination of SPECIFIC
and ad valorem duties on imi-
tation pearls and beads as we'll as on
certain imitation precious stones IN
order that the American industry have
proper protection to continue its de-
velopment. The combined duty IN All
the recommendations made is said TO
be under so per cent ad valoreTn.
New-York tribune., 1921-02-28
Eilers Continues Attack
Seeks TO Show Holdings Of the
Guggenheim Interests

Continuing his attack on the Gug-
genheim management of the American
Smelling and Refining Company, Karl
Eilers, former president and di-
rector, has addressed a letter to stock
holders in which he purports to show
the stock holdings of the Guggenheim
family, salaried employees who are di-
rectors and directors not employees.
The record, which, Mr.. Eilers SAYS,
was taken from lists recently furnished
by the company, shows the following
holdings of members of the Guggen-
helm family: Daniel Guggenheim, 100
shares; Isaac Guggenheim, 1913 shares,
and Simon Guggenheim, % shares.
The holdings of salaried employees
who are also directors were given as:
Hamilton Brush, none; L. H. Brownell.
5 shares; Charles Earl 40 shares; L.
G. Eakins, 10 shares; John c. Emison.
shares; Fl. A. Guess. none; William
Loeb jr.. II shares; W. f. Merriss, 8
shares; H. A, Prosser, 10 shares; f.
r. Raft, 5 shares; L. r. Reefs, II
shares; CIV. Whitley, 10 shares; John
Steele, shares; G. P. Bartholomew,
none; W. S, Morse, 10 shares; II. R.
Wagner, 10 shares, and H. w. York, "a
shares.
The holdings of other director en-
ployees, according to Mr.. Eilers, were
as follows: F. w. Hills, 148 shares; E.
l.. Newhouse, zoo shares; w. M. Drury,
300 shares; Walter 7. Page, 600
shares, and c. A. H. de Saulles, 100
shares. E. B. Schley, another director
not an employee, was listed as holding
100 shares, and w. S. Mccormick, one
share.
New-York tribune., 1921-02-28
Wants Nothing Not absolutely Safe

Question--It is my desire to organize my
bond holdings so that / had nothing but
absolutely safe issues. Kindly give me
your opinion on the following list: $4,000
Belgium s per cent, due 19f1 $1,000 Gulf
or Corporation 12-year per cent sinking
fund debenture gold bonds, due 1898
$4,000 Southwestern Belt per cent, due
1925; $4,000 Pennsylvania Power and
Lighting Company first and refundiug
mortgage honds, series A, per cent, due
1951.-H. c. NJ.
Answer-Your list is good one and
has diversity, but an exchange of the
$4,000 which YOU purpose to put into
Pennsylvania Power and Lighting Com
pany first and refunding rs, due 1861,
into first mortgage railroad bond, such
as. for instance, Atchison, Topeka e.
Sante Fe general (now frst) 4 per cent
bonds, due in 1895, and selling at about
7S, or if you prefer a bond with a
higher yield and not in the legal for
savings banks class. you might consider
New York Central debenture per cent
bonds, due 1885, selling at 90 and
yielding over per cent
New-York tribune., 1921-02-28
Furs

4 wider market for raw furs. VII,
some of the bolder speculative .l.,
ment willing to run up prices on sn.
cial summer articles. such as mari,
and mink, was demonstrated q. ~
auction held by the international F"s ;ns
Exchange in St Louis last week NJ. y,
sale viii continue this week. Decr,...
averaging around 30 per cent from f'sss ~
prices reached in the spring sale lsss ,a.
year-the last auction held by the com ors'
pany-were registered, but in summs,
furs the prices appeared to be in ID.
vance of those realized in the wipts,
sale in New York last month. '''
Little interest in fur garment, e.,
next fall is shown by retailers. wSa VIZ,
are still Offering reduced prices ON t5s
present seasons stock. ''''
New-York tribune., 1921-02-28
international Salt Bonds

Qucstion-WiI you kindly give me in
formation regarding the bonds OF the In
ternational Salt Company first consolidated
and collateral 5s. due 1851. quoted bid
6912, asked II? DO You consider these a
high class bond suitable for an estate to
lay away and forget, except to cut cou-
pons, and is it a mortgage lien upon prop
erty, of high grade? Are they sinking
fund bonds &C. F.. w.
Answer--The International Salt col
lateral trust, S per cent bonds, due
1851, of which $4026,40O are outstand-
ing. have a sinking fund provision
which retires one-siXth of the issue
each year. Of the total, $8,917,9o0,
S4,797, 500 were retired up to April 1,
1919. The company is holding com
pany, and paid 10 per cent dividends
on its $6,077,130 stock in 1918 and 6
per cent each in 1919 and 1920. AS you
will see, it is not a mortgage lien on
property, but a lien on collateral. We
would hardly class it as a bond for
trustees to lay away and forget, al
though, as you see, it is sound.
New-York tribune., 1921-02-28
Combines Good Issues, New and Old

Question: have $4,000 to invest and
have made up the following tentative list.
In my selection / have tried to include
diversity, absolute safety. some of the re-
cent high interest issues and some Of the
old long-term favorites, the latter in the
belief that in the probable upward swing
of such securities my principal will grow.
At the present buying prices the list below
win give me approximately per cent.
Will you please suggest any changes that
no more Liberty bonds, as have $4,000
of them now; $4,000 United Kingdom
1887, 512; $4,000 Americsn Telephone and
Telegraph collateral 5s; $4,000 Northwest
ern Bell Telephone Is; $1,000 Northern
Pacific prior lien as; $4,000 Illinois Cen
trail refunding AZ; $1,000 New York Central
collateral 7s.-G. w.
Answer-Your list is an excellent
one, we'll diversified, and we consider
each one of the selections you have
made safe and high grade. Your
NortheEn Pacific prior lien due in 1897
New-York tribune., 1921-02-28

India Market for u. S. Products

India offers an extremely good op-
portunity for American trade at the
present time. AS the natives are ac-
customed to trading with British mer-
chants and understand English in many
cases, one of the greatest difficulties of
trade in the Orient is eliminated. Fur
ther, Americans are popular with the
natives, the government is settled, the
country is rich as result of the war
and the rich natives are inclined to
spend money on such products as are
manufactured in the United States.
New-York tribune., 1921-02-28
Woolens

The opening of women's wear fabrics
and mems overcoatings for fail, 1921,
by the American Woolen Company on
Monday of last week, at prices from 40
to 45 per cent under those of year
ago. and guaranteed throughout the
season, served as the best stimulant
the woolen and worsted goods market
has had in months. Little complaint
was registered against the prices by
buyers who viewed the new lines. Tho
activity in women's wear goods was
New-York tribune., 1921-02-28
Desires Water Power Issues

Question--You will confer a great favor
IL you will name TO me the water power
companies which. in your opinion. are the
best and safest. | desire TO buy q few
bonds or preferred stocks for young
and regard safety hrst.--H. j. II.
Answer--M Montana Power we consider
a sound comrany, with good earning
power. It's first and refunding mort
gage per cent bonds, due in 1913,
selling at 81, we consider a sound, CON
servative investment. It's preferred
stock, paying Z per cent and selling at
around 81, is good semi-speculative
investment for a business man. Nj
agara Falls Power per cent bonds,
due in 1882. and selling at about 88,
are we consider a we'll secured invest
ment.
New-York tribune., 1921-02-28
Brazilian External as

Qucstion--Would you consider the Brazil
Republic per cent external sterling bonds
a safe investment? At the present price of
sterling they give a nice annual income.
Would you advise purchase of same as an
investment?- X, r,
Answer-We consider Brazil Rcpub-
lie per cent external sterling bonds a
good investment. AS foreign govern
ment securities they are not quite so
high grade as United Kingdom 515s,
Belgian 712s or Swiss SIS, but are rea-
sonably safe.
New-York tribune., 1921-02-28

Finished silk goods maintained a
iairly steady rate of activity last week,
out raw silks were Inactive except in
some OF the coarse sizes, for which a
strong spot demand exists Additional
supplies scheduled to reach here in the
near future, however, will relieve this
situation. which has led to premium 3
being paid for some raw silks needed
fo- immediate use.
In the silk goods market some of the
producers of staple numbers are sold
ahead for sixty days. The spot demand
for taffetas, crepe de chimes and Canton
crepes IS still strong and some of the
smaller producers and speculative job
bers are attempting to force prices
higher. The dress manufacturing trade
is a heavy buyer of silks at present
and retailers keep TIE market fairly
active with small purchases from time
to time
New-York tribune., 1921-02-28
Investment
Information

Questions Of general interest to sm-
oestors ,Uilt be answered in this coll
ttmn, in sohich case only initials ioiil
be used. Others ,oH be ansWered by
mail. Address oil inquiries, inctos-
ing stamped, addressed epuelopo, TO
Financial Editor, The Tribune, 154
Nassau Street, New York City.
New-York tribune., 1921-02-28
The Week lin Business
New Normal Basis Being Reached Slowly and Pal,
fully as Difficulties Become
Clearer

reported stronger than in ov.reo,.
ings. The trade feels that the prs.sa. s,"..
level OF prices will be maintain
throughout the season and that IN.
ness viii develop slowly but snr.5s rrs,.
from now on. indications of a w;S.'
resumption of operations in the NJ
England mill district are carried in =,
ports emanating from Boston, Law.
renee and other sections.
The labor troubles in the earrn.,.
producing trades are a retarding fseto1
in forward cloth buying at present ~. IN.
are being cleared up, in the opinion " ~
trade leaders. 'H VI
New-York tribune., 1921-02-28
Less Egyptian Cotton Acreage

According to a Reuter- cable from
Cairo, published in London on Decem-
Der 8, following the recommendation
OF majority of the Provincial Coun-
CHS the Egyptian government has de-
cided to reduce the cotton acreage next
season by e-third."
New-York tribune., 1921-02-28

are selling at about n, and Atchison.
Topeka & Santa Fe general As secured
by mortgage, due 1895, are likewise
selling at about n, and we consider
the earning power and credit structure
of the Atchison rather better than the
Northern Pacific
New-York tribune., 1921-02-28
Boot Trade Declines

Trade in the boot industry has beI
come so slack that many of the Sydne1
factories arc finding it difficult to msip@
tain operations. Tanners are also IN
an unfortunate position, selling leather
for less than they paid for hides.
New-York tribune., 1921-02-28
Standard Oil Compan;ea
Miscellaneous Oil Companie.

All Lobos. Is 81 Midwest IA l42
40 pref 20 80 Mt Prod. Sss 81,
| BrA Ltd 271s 2SM Norw Oil, % az
| Cosden -. 5% Pr & RI as
BLK Basin tx fSalt p sst 10
| Imperial, % 9s Sap Ref. 4ks an
Mag Pet...145 @b5 West SITS 81 II
Merr on l21k IL tPar $40
New-York tribune., 1921-02-28
Federal and Joint Stock Land Bank
Bonds

p,a.., - Bid. Ask, Yield
19Ss-1e2S ...... s5X as 2s
Federal Farm Loan 4ss,
I9S9-1924 4...... ssM abX ss
Federal Farm Loan AIS
trsdsraj asss,lsas sssrr, ;..;t. saA ssA 5,a4
1937--1922 ..... seX All soe
Joint Stock Land Bank IS,
19S3-1924 ......... as ~ On
Joint Stock Land Bank 5s
1sSs-1ssS .......,....,. Sc 81 s2S
New-York tribune., 1921-02-28

The Tribune Is read by wideawake and
ambitious employees. Telephone your Heip
Want Ad TO Beekmsn 3o0o.~AAdvt.
New-York tribune., 1921-02-28
New York State Bonds

issued In coupon and registered form
terablc,
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-03-28
SUGGEST BANK LOANS
TO Stimulate BUILDING
''rh E'inccs Altruisuc Tcmdcnct
Says Prominent Local
Bankers.

y suggestion that baukors ~;
thhE" loans for the proinotio, &c
hnilhI". without profit 10 themselyci
'ot''S from q leading dealer In mort
80" io"hS. The suggestion cvincrn q =,
",'r"iN'ic tendency on the part Of n,
""'hpr ana ~ the same tim" raises
u point OF wide application in crIIo-,
tiv" affairs point yet unse,ii.,t
observed a prominent local banlr
Yesterday "ilow Ear docs the nuh
ne interest conntcnIu"" the iuJiyiI.
uhl > performance oI purely Ccououi'
.rrvic"s' gratis 10 tho people AZ :.
Tho impulse to give the pnbli
something :or nothing is not a nryi
one. Ia Roman DAYS wealthy mo-
Wed "iih ono another ia largcss.,
t" tn" pcopic Of food money. "nicrl
iainincnts. public baths and tn. IiEsf
Ih"y wont further than amy on
thinks of going Hpw. AZ present In /
tradition of centuries lies Etrou'y
upou us that ia matters of purcl
material supply and demand the piir.
N"Eor should in general exact hi.
profit
"A',ruists VIII object tina, IA
golden rule VIII never become IN
universal economic inw unless son,e;
OF" begins "upplyiug something col,
nothing nrst TO sct tn" Example TN
believers ip mccUJUlSti" economies
"ll' protest IN" uuapuudnc>s of alt
to" ing an. essential scrvic" 20 70.
unpaid. therefor" uuetimulatch. can
itni Viii shuT ih" distinction Of being
asked 10 ipf"gr itr return. while iaboi.
TN farmer viii ETumhl- that he Tuft. 7
'rmt1puIy performs his shhro 81 make
IN. ih. worlds livelihood withorL.
adequate return already" I
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-03-28
PUPILS BANKS REPORT
INCREASE OF SAVINGS
Money Deposited in Various inSti.
iniionS Up {" February l.
81 2Sli,.J Iu.J

i''ia\"d returns To- tine AMERICAN
E"pN"rs Association. saving haui.
division On the Schooi savings bank
ing Systems of TIM CuitcA states In
crease ia" total of purns' SAVINGS boo
banks on February ! 10 Si.2>"..lo.7I.
according :" Information received ia
Richmond Yesterday
Anou; 10 per cent nj that amount
Was deposited 10 the credit of schools
or principals using stamp ur oihvr
plans which Required To, pupils 10
say" 81 or more before uhtHIu.ug In
t!Vduai credit a. the TANK Sine
i-nths OF tho total was iu Individual
bank accounts h.lonGiug q" th' chill
dr,u
cross collection reported for the
school hrii-y"nr Guiding january 81
are now reported - hCiu- Sls@l.-
@l"l0 TIA" cash with !rawH'~ during
the p"rl"i amounted :" about SO yet
Crui "t TIA" collections
=: rprtS We" cc"ir"d .'um iin
cities. OF WhNh tw,niy --Il.h. rapport
,i for th. first tiulo. an! a~s-.'..,
ton has Information :" indicate Nat
over 100 systems hHNr p-'l Installed
''n '''rIi. :, ,tUtT:hH b., i'r ""
suits 81 wu"S '.Jriu. 81: a..'i .c.,r.
E."so VIII .tp, ~ u 'ht .g..l.Il re-
-'.li :" be- complied u,N' 's.f,
BOSTON I'hiladclphia ANIL o'h,~
cities promise ""turus r.r in, Illi
Yea. although th"y are NOT i,Ic.t;.ls q
3D. tn" present rcE":l
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-03-28
NEW BEDFORD WOMAN
TO FORM ASSOCIATION
Massachusetts Will Have Organi-
cation for Feminine Shooters.
May lSrcNmc National One.

because Mrs Elsie H. Wcihl. Of
III Maple street. New Bedford.
Mass" was unsuccessful in an Of
fort TO become a member Of the
New bedford Gun club IL is more
than likely that Massachusetts Nil
have II state association for sports
women and Il national trapshootinE
association for women is WITHIN the
range OF possibility.
Mrs. Wc!h is AN ardent sports
woman and with her husband who
is AN expert fisherman and sho; both
al the Held ANA over the traps she
spends The summer seasons at Kapa-
wach on Mariha's Vineyard on III"
shores OF E!gartown Great Pond
hshinG and hunting. Becoming quite
expert with the trdpguu Mrs Wcihi
decided to JOIN y gun club She
looked NJ the Martha : Vineyard by
laws and discovered that only males
were eligible for membership. but
in the bylaws of The New bedford
Gun club NOTHING was said about
males. So Mrs. Wcihl put in her
application.
l.! was laid on tho table"
There ar" hundreds OF gun clubs
every club women have been aC-
ceptcd rs members just as the men.
The club that does not provide for
women members IS standing in It's
sh"o, IN any competition with the
mon: aud there are women who can
shoot just as well as the best Of the
males. and most clubs are prni;d 10
say that they have women on their
rolls
Mrs. Wcihl is more determined
now man eyer I" shoot at the traps
aud ii she cannot join u KUN club
in New bedford she intends to or
GaniZc ono for women. conducted by
women. bn' which VIII not exclude
males from membership. She has
applied I" the massachusetts state
Fish and Game Association for al
vice, also 10 members "r the Amcri-
can TrapShootinG AsigOcintion unb
Mrs. Wcihl - getting assistNurc il,
her work from many quarters She
hopes 10 form woman'S orgauizl-
ton IN massachusetts, and when this
i perfected Ia try aud max, ,n,
organization national one