davidaulloa/AmericanStories huggingface dataset:
The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1921-06-25

DEMOCRATS IN the senate spent a whole day
criticising the administration. but then. there ism
much else for them TO do.
The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1921-06-25

THE MILLENNIUM in dress which women see
to have as their goal will be reached when gowns nj
he utilized as bathing suits.
The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1921-06-25

DEMPSEY IS NOW reported 10 be Overweight"
the first time, according to war records. that he b
been over.
The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1921-06-25

A CENTER OF gravitation was a big advantat
the hammock had over the porch swing.
New-York tribune., 1921-12-03
Congratulations to the p. r. r.

Question: am fifty years old. am mar
ried. have my home free will be retired at
the age of stxty-two, + have 125 shares
pennsylvania, $1,000 Northwestern BELL
Telephone per cent bond $1,000 Liberty
bonds and SS,0aO In bank at present for
investment. What will you suggest for
his $4,000 with as high an income as is
bonds running from twenty to twenty five
years. Any suggestions you will give will
be highly appreciated. I we'll aware
that J hnve too much Pennsylvania for
the balance OF my investments. but I have
been runnin COVER the main lines of tho
Pennsylvania for the last twenty
years, and while they are speculative am
satisfied with them and intend to keep
them all my life. and any losses through
them trust will not hurt me.~-M. p. s.
Answer-The Pennsylvania Railroad
is to be heartily congratulated on hav-
ing an employee who feels the way You
do about the company. We suggest
two New York Telephone per cent
bonds, due 1941, recently selling just
below par; two Pacific Gas & Electric
general and refunding 5s, duo 1919,
recently selling at s7A, yielding 6.O6
per cent at lot, yielding 675 per cent
if held to maturity, and one Western
Pacific first 5, due 1916, recently SELL
ing at 25s, yielding 6.03 per cent cur
rent interest and 6.39 per cent income
if held to maturity. This is the new
Western Pacific Company which is
sound, in our opinion, and the bonds
are next to the rails.
New-York tribune., 1921-12-03
Petroleum Dealers
Accused Of Fixing
Prices for Group
Standard of California Set
Pace, Is Charge; ''Domi-
nant'' Company Denies
Seeking Pacific Control

WASHINGTON. Dec 2.-Memher,
Of tho Independent Petroleum Mar
keters' Association were charged b,
the Federal Trade Commission to-da,
with having agreed among themselves
to maintain the prices and selling
practices established in California b,
the Standard Oil Company of Califor.
nin,
The charges Of the commission were
contained in the second section of it,
report to the Senate on price ant
competitive conditions in the Califor.
MIA oil industry.
The commission in it's letter of sub
initial declared that Los Angeles Off
cials of the Standard Oil Company
were notified promptly" by a mem.
Der. OF the marketers' association oi
understandings and agreements rela
tive to price maintenance within that
association, thereby placing the
standard in better position to know
wnen new price advance would be
followed"
The commission also assorted tha,
records since 1916 disclose that the
standards prices in California have
been followed generally by all mem
bers OF the marketers' association
He declared that the association had
prepared a list of p-ddlers and othe,
retailers who refused to sell at the
agreed prices and held the distribl,-
tors responsible, so that this class OF
trade would not receive supplies until
the retailers maintained the 'Iisi
prices
The commissions report furthe,
said that the Standard Oil interests
were in a dominant position" in the
California industry. but quoted let
ter from K. R. Kingsbury, president
OF the California Standard, in which
he denied, as was reported to the com
mission: that his company was add
ing TO its holdings by gaining contro'
of the Pacific Oil Company
About 20 per cent of the stock OF
that company was bought by the
Standard, Mr.. Kingsbury wrote. in
order TO protect its oil supply against
invading foreign interests. said BY
the commission to he the Royal Dutch.
smell group, Denial was made by off
Gals of the Dutch Shell interes is
however, that they had bought or were
seeking to buy Pacific Oil stock. The
commission asserted.
Inc commission set forth among The
agreements which it claimed TO have
found one covering bids on oil re-
quirements of the City of Los An.
geles in December, 1916. Memoranda
of certain meetings of representative
of four companies. the Standard. The
Union, Western and California Oh
and Asphalt, showed, the commission
said, that they were to bid on the re.
quirement and that cit was agreed
all should bid 1 cent off open tanl
wagon market prices at the time anc
place Of delivery" Later record.
showed, the commission added tha-
three Of the companies submitted bid:
at the agreed price in December ane
again in January, 1917.
New-York tribune., 1921-12-03

A Premium and a Discount Bond

Question-out OF my household allow
ance for the past few years I have made
some savings, and now have about $4,000
In the bank. which I should like TO invest
with safety to yield about G per cent 1
own at present $1,000 in United states
Liberty bonds and Victory notes $3.50 in wal
savings certificates. $500 in building and
lean shares and 5000 in the stock OF an
advertising corporation in which my hus-
band was formerly employed This stock
has regularly paid per cent. and last year
ar additional "A per cent. I bought it at
$50, two shares, and sell 1t at any time
10 the corporation for $2Oc. VIII you tell
mo how best to invest my $4,000 TX. J. c,
Answer-We suggest Northwestern
Bell Telephone rs, due 1871, recently
selling at 10S, yielding 6.26 per cent
true income if held to maturity, and
Colorado & Southern refunding and
extension 41as, due 1885, recently sell
ing at 1914, yielding $50 true income to
maturity. By thus buying q premium
and discount bond you average yor
annual interest receipts and the diff
ference between buying price and face
value.
New-York tribune., 1921-12-03
Cut in Newsprint to $40
Looms; Shocks Canadians
Prospective Action of Interna-
tionai Causes Uneasiness
Across the Border

cPsc!ct OFSpdtCh 10 Iho Ir16Nno
MONTREAL, Quebec, Dec. 2.-Pros-
pective action of international Paper in
cutting first quarter newsprint to $40
has shocked the Canadian trade. No one
questions the likelihood of the cut, but
every one is puzzled as to why the In
ternational people should take such a
step.
For some time past it was believed
that international was more concerned
about stabilizing at $50 ton than cut
ting under other producers. One theory
was that when Mr.. Dodge found Ca
madam manufacturers were inclined to
the S75 rate as fair solution of meet
ing the cut rates of European exporters
he experienced swift change of heart
and concluded that it might be as well
to go the limit at once and take a loss
on the inventories by going Canadians
one better.
1t is understood Canadian manufac-
turers will await definite action on the
New-York tribune., 1921-12-03
Utility Showing
Decreased Costs:
Earnings Better
Pacific Gas & Electric's Ne.
income Larger for Year
as Expenses Begin to De-
cline; Outlook Improving

Accompanying the October report of
earnings of the Pacific Gas ard Elec-
tric there Is cumulative statement
for the twelve months, showing s3T,-
$4,000 gross earnings, an increase
over the corresponding previous twelve
months of $4.is6,ooo. Operating ex-
uenses amounted to S2%,1s5.oeo, an in
crease Of sf,s1s,ooo, which left net
gain OF S2,3S&,0o0 in net income.
Pacific Gas and Electric is like the
xtssu roads in showing an increase in
net, but the increase is attained by
exactly opposite methods. The steam
roads show decreases in gross and SO
much larger decreases in expenses as
70 show large gains in net, whereas
.hs Pacific Gas and Electric increase
in gross is in part Offset by increases
in expenses.
In October, however. Pacific Gas and
Electric showed decrease in expenses,
indicating that it, like the railroads,
was beginning to get control Of operat-
ing expenses.
The following table shows the twelve
months er ded October 81, earnings and
expenses, with comparison with pre-
vious twelve months:
New-York tribune., 1921-12-03
Days Dealings in Bonds

10 -. BIN
j 49,. ~ n
10 81
Am w p s (
rs 1899
4 siE
1 s2h
Ann Arbor ss
1895
New-York tribune., 1921-12-03
Investment Information

and in 1920 earned $251 900 net with
interest charges, calling for S172,000.
This is not large margin, but 1920
was comparatively unfavorable year.
We think you would be safer to SUBJ
scribe for the per cent first mortgage
bonds, duo 1886, at So, that is, $3.50
per $1,000 bond, rather than to sub
scribe for the preferred stock. The
bonds arc not active and have not been
recently quoted. 1t is not. in our
opinion, an unfair thing for we'll
established public utility to ask prop
erty holders, who will be benefited bv
an extension of facilities. to subscribe
for certain amount OF the company's s
bonds.
New-York tribune., 1921-12-03
More Equipments Sold
Total Disposed OF by Govern
ment Reaches Sl32.OlO.6OO

WASHINGTON, Dec. 2.-Sale of $12,-
$4,000 of railroad equipment trust
certificates held by the government was
announced to-day by Director General
of Railroads Davis, bringing the total
of these securities disposed of by the
government to 1920, 600
The sales to-day consisted of blocks
of Cleveland. Cincinnati, Chicago & St
Louis Railroad certificates totaline
SA,507, 100, sold to syndicate of fnan-
cial interests OF New. York, Pittsburgh
Chicago, Cincinnati and Cleveland. and
certificates of tho Delaware & Hudson
New York Central, Chicago & North
western, Michigan Central, Chicago, St
Paul, Minneapolis & Omaha railroads 9,
totaling 200. to a syndicate of
Chicago banks.
New-York tribune., 1921-12-03
Long Island Lighting Company

Question-P1ease advise as to the safstv
OF an investment with the Long Island
Lighting Company. Hudson Herminal, SO
Church Street, New York Which would
be preferable, their first mortgage per
$1,000, selling now at $3.50, or their per
cent cumulative preferred stock at si0o
par value? They ask US to subscribe for
order that tthey may build line throug h
our locality. We are willing to take nearly
hait or the above amount. but feel they
some question the value OF these securi-
ties.-L. r.
Answer-Long Island Lighting Com
pany has good record of earnings
New-York tribune., 1921-12-03

: 6aH
M MarAet ST Ry
st con 5s
1904
New-York tribune., 1921-12-03
LIMITED PARTNERSHIP
HENDERSON & cosPANY-csrttacats

HENDERSON & COAEPANY-Csrtthcate Of
renewal of limited partnership.
WE the undersigned Norman Henderson.
Louis f Hatfield. Norman II. Donald ana
. Robert II McCurdy. having heretofore formed
limited partnership pursuant to the , stat.
the first day OF May. 1920, and 10 end on the
31st day OF December 1921. and having
renewed and continued said partnership pur-
suant to said statutes. do hereby certify:
!. The name under which such partnership
Is TO he conducted is Henderson 4 Company.
and the county wherein its principal place
OF business Is TO be located IL the County or
New York. IN the State CT New York
>. The general nature OF the business to be
Transacted is the general brokerage and COM
mission business IN stocks. bonds. securities
and other commodities. and the purchase,
sale and dealing in stocks. bonds. securities
and other commodities.
g. The names Of all the general and special
partners Interested therein ard their respec-
tive places OF residence are as follows:
Norman Henderson. residing at NorrtstGHn,
New Jersey: Louis Z. Hatfield residing at
eS pa,ar place Ne,v Rochelfe <ev York
and Norman H. Donald. residing at No
Benedict Avenue. Dongan His. Borough or
Richmond New York City. who ara the gem
sral partners and Robert II. McCurdy. resid-
ing at West fslip Suffolk County, New York.
who is the special partner All OF said per-
4. The amount OF capital which said Robert
H. aIcCaFdy. the special partner. has con-
trib9ted 10 the common stock. IN cash. IL
two hundred Thousand dollars $500. 5000.
5 The 2arsnegshlp Is renewed and con-
the sfst dsy Of December 1921. and is 10 end
on the 5ist day OF Decemker. 1872.
Dated. New York. November 2sth 1891,
NORMAN HENDERSON
LOUIS Z. HATFIELD
NORMAN II. DONALD
ROBERT 81 NcS-JTRDY
STATE or NEW YORK., COUNTY OF NEW
YORK. So.
On this .sth day Of November 1871 before
me personally came NORMAN HENDER-
SON. LOUIS e. HATFIELD. NORMAN Fl.
DONALD and ROBERT H MccURDy, TO
NE known and fEovn % ne 20 be the tndf-
vtduais described IN and Who executed the
foregoing instrument and they severaity
aeSnos ledsed- 10 that they executed the
same
Notary Public Bronx County, Cert
filed IN New York County ~ y.
County Clerks NJ. IS: N z. Reg
| (SEALl sstsr's No. 304s; Bronx County
Clark No Z. Term expires March
STATE OF NEW YORK. COUNTY OF NEW
NORMAN H. DONALD being -uiy s~vorn
says. that he is of the general partners
| in the limited partnership OF Henderson &
Company named in the foregoing certificate .
have heen contributed 10 the coumon stock
| by Robert II McCnFdy. the special partner
herein named 10 wit, the OF two han
dred Thousand dollars t$oD 09el. has been
actually ana IN good faith paid in cash by
NoRMAg n DONALD.
Sworn 70 before me this assh day OF Noyem-
her. 1874.
Notary Pubic Bronx County. Cert
fled In New ynsse County. " r.
County Clark Nc. ss; N r ReF-
| (SEAL> listers No SesS. Bronx County
CLERK No. !. Term expires NAreA
New-York tribune., 1921-12-03

Commenting on the statement, A. F.
Hockenbeamer, vice president, said:
"As in all our monthly statements
since July, the outstanding feature of
the October operations is the large re-
duction of Sls6,72T in operating ex-
penses notwithstanding an increase of
mors than 100000 in reserves for
taxes and contingencies. October sales
of electric energy increased 719 per
number Of customers added in Octobe
was 3.74S, 2 gain of 29,SA6 in the
twelve months period, making the total
customers served at the close of Octo-
Der so, ,671 Owing to several rate ad-
justments during the past year these
figures rather than gross earnings al
ford an accurate index Of the Increase
in the volume of business.
sour gas business. contrary 20 the
experience of practically all other
large gas companies, has held up re-
markably well throughout business de-
preston, and fer the ten months to
October 81 shows gain in volume of
sales Of 2 per cent IN gross receipts
Of s1.552,3f5
"The balance carried to surplus
after depreciation in October, in
creased s1sS,710. or rs per cent, and
for the twelve months ended October
81 Last, 81 .4S2, ESQ. or 40 per cent.
"The company has at this time tied
up in new hydro-electric developments
and other construction work which has
not yet reached the income producing
state approximately SIT 900, ,00o The
major portion of this capital will begin
paying its way about July /. 1922. with
the completion of our Pit River plant
No. 1, having a capacity of 3,934 horse
power. This additional energy will be
readily absorbed through the normal
growth OF business which is again in
evidence and in replacement of energy
generated at higher cost in steam sta
tions or purchased from other COM
panies.
"The company's recent sale of s10,-
100000 Of 6 per cent twenty-year
bonds, plus s4300000 cash in treasury
at the close OF October, will, it is an
ticipated, leave the company with am
pie funds to carry or its construction
progress throughout the year of 1922" !"
New-York tribune., 1921-12-03
A Workingman's Bonds

Question: am working man and
married. l am sending you list of the
bonds l own I bought the FIT. Smith and
the Portland bonds at about 90 would
be glad of any advice concerning same.
What do you think OF the bonds I hold ;
are they suitable for me? S4,Soo In differ
IS, 1856; Union Pacific first As. ls4T:
Atchison. Topeka & Santa Fe general As
I995; l American Shelters 5s. Is47; FIT
Smith L. 5s, 1885; Portland Ry. first re-
funding 5s, 1912. Bought Union Pacific
and Atchison since reading your column
Answer-All the bonds you have are
well secured, in our opinion, although.
of course, Union Pacific As and Atchi-
son general As are in higher class
than the others. We should hold all
of them, however, in your position.
New-York tribune., 1921-12-03
csds Not High Enough

Question: and some Of my associates
would appreciate AN eNrresston OF opinion
from you on nciosed Nelhuisla 8 Bodeli
foreign bond offerings. VIII you favor us 2
IS. NJ. f.
Answer-Spcculation in foreign ex.
chagne, even of such countries as
France, Holland, or even England. is
speculation purely and simply. but
when you get into speculation in Ru-
manian or City of Vienna bonds. ii is
more like playing the races where the
hookmakers do not even give you fair
odds for YOUR money
New-York tribune., 1921-12-03
The Market
Realizing sales continued ia

Realizing sales continued to cause
irregularty in the bond market yester
day, although the volume OF business
again ran exceedingly heavy. United
States government issues were partic-
nlarly prominent in the dealings, with
the fourth 4A Liberty bonds advanc-
ing to $780, new high. In the for
eign government group the tone was
generally steady. The French 7Ms,
which were extremely weak on Thurs
day, rallied to 94A. The movement in
railway bonds was narrow. Invcstment
bankers described the market as
tired" holding that it was logical to
expect something of reaction in view
of the extraordinary recovery in re-
cent weeks.
New-York tribune., 1921-12-03
association Secretary
Surprised by 4cf;ou

Los ANGELES, Dec. I'll. H. Max
son, secretary and manager of the In
dependent Petroleum Marketers' Asso-
citation Of California, expressed surprise
to-day when informed that the Federal
Trade Commission had charged the as
sociation with having agreed to main
tain the prices and selling practices
of the Standard Oil Company of Cali
fornia
Maxson said that he was certain
that the association never notified the
standard company "promptly" or any
other wav about understandings or
agreements within the association on
price and marketing questions.
New-York tribune., 1921-12-03
-Four full columns Of in-
resfment questions and an
sacers are published in The
Tribune erery Sunday

part Of international before taking any
steps, but little doubt is entertained that
if Mr.. Dodge makes his cut the Canadian
export rate viii come down another So
to meet the situation. 1t is claimed that
if Canadian mills are kept busy on the
price basis of the anticipated reduction
those now paying dividends can main
tain them
New-York tribune., 1921-12-03
New York Metal Navko,

On the New York Metal Exchange
TIN was firm, but quiet with straits
and straits shipments quoted at 3o.s2ls
loS1 81 1ac; standard, O.62laM31.37lhc.
and 99 per cent at 31.371lac asked. Cor
per firm; standard spot, December and
January, 13c asked and electrolvtic
spot and December. 13.12MO13.75c
Lead steady; New York spot, 4.75c
asked, and East st. Louis spot, 4.45c
asked, and zinc quiet, with New York
snot quoted 505c, and East St. Louis,
47Oc asked
New-York tribune., 1921-12-03

Questions Of general intersst to in-
testers sssI be answercd IN this col
nma. sa sehich case only saittuls wall
be used. Others srill be answered bY
mail. Address aii iHqssiries, iacios-
ing stamped, addressed enueIops, to
f'imaacsal Editer. The Trib@ae, I53
Nassau Street, Nete York. City.
New-York tribune., 1921-12-03
Answer-The purchase outright of
New York Telephone 6s

Question: will appreciate your opinion
OF the recent issue of refundng 6s OF the
New York Telephone Company. 1 under
stand that there. are only two issues of
bonds ahead OK these. namely the ~ per
cent and the per cent debentures.
notice the recent Issue is selling now at
around par. DO you think they Will hold
TO par. or Will they finally settle down
at around the price made to subscribers
namely. 9Tf--W. A
Answer-Our opinion of the recent
bond issue of the New York Telephone
Company is that it is high grade in
vestment. What the market course of
these bonds may be we cannot tell YOU.
because such movement depends upon
many other factors besides the intrin-
sic value Of the bonds. We should be
inclined to doubt, however, that they
will soon sell anywhere near the
offered price.
New-York tribune., 1921-12-03
London Metal Market

LONDON, Dec. 2.-standard copper
spot, SCI; futures, s6S. Electroivtic'
SPOT, SIS; futures. SIT. Tin. spot. f164
los; futures, 1886 rs Cd. Lead. spot,
f25 5s; futures, 924 12s Cd. Zinc, SPOT.
e26 IS; futures. 926 LIS
New-York tribune., 1921-12-03

To figure the precise Yield or a bond it
approximate yield hly be figured
oct by the following formula: Divide the
closing quotation a bond into the rate
of the annual return. If the bond is selling
below par you must allow also for the
appreciation OF the principal To do this
subtract the market quotation from par,
or 100, and divide the remainder by the
number of years the bond has 20 run be-
fore maturity. For example. tf a per
cent bond is selling at 90 and has ten
years to run, the annual return viii be
&c per cent. The difference between par
and the market price Will be 10 points
subtracting so from 100. Dividing ten
points by ten years, the cuotient vii. be l.
This figure is TO be added TO 6.66. which
is the annual return, and the result: 7.66
per cent. VIII give you the approximate
yield.
New-York tribune., 1921-12-03
Days Nesc Issues

P. W. Chapman & Co., managers of
the syndicate which offered the $4,000
900 Charcoal Iron Company of America
per cent ren-year closed first mortgage
gold bonds, due November /, 1881, yes
terday stated that all of the bonds were
sold and the books closed.
The State Savings Bank and Trust
Company Of Columbus. Ohio, is offer
ing block Of Pure Oil Company per
cent convertible preferred stock at par,
800 share This is an issue which
was underwritten by bankers some
time ago.
The issue Of 12.5oo, 900 Philadelphia
Electric Company first lien and refund
ing gold mortgage per cent bonds,
due 1871, offered by Drexel & Co,
Brown Bros. & Co. and Harris, Forbes
Co at 90 and interest, to yield about
CLIO per cent has all been sold.
New-York tribune., 1921-12-03
Sales
Bonds

loco Bell II Pen 7sl0s los los 1Os
5000 Con Tr N j 5s s9ia s9H S9s5 Sg1h
1000 lei e. Peo 4s,ctfs 62s. GA. g2N G2a.
600G ksy'e Tel 5s 73 "a "a n
l00o Lake Sup Il IS 3lsz SIX sls4 sf&
1000 l. Nav oon4Iss so 90 90 qo
1000 |. RIP Is, '2slO0A 10OT 1909 TOO u
1900 Phil Elec 5s 81 "A 81 H. ~ u al IL
1000 do Gs. 1O0I5 100 IL ION l. 1oo Z
5000 Pub Ser Cor 5s s9js $685. s9E S9ia
New-York tribune., 1921-12-03
Stocks Ex Dividend

Uate. Company. C't
Dec S--Baldwin Locomotive Works. 81
" uo pls 3 "
Dec. 3-Mergenthaler Limo. Co ~
Dec. 5-Union Bag & Paper Corr.
New-York tribune., 1921-12-03
Speculation

p, ouestion~~-I purchased ten shares Of
Fierce on preferred stock one year ago
had my dividends up to July this year
The next dividend was due on October l.,
and this dividend passed. Could you
tel me where I could write to get souac
information in regard to this stocls7 DO
you think II will resume it's dividendsf |
see BY the daily quotations that 1t has
been going up. It's about 6s, think. now
II 1t should get up Go T93s twhat | paid
Tor ~ would you advise mo 60 sell 1t? 1
bought 1t outright.--Mrs. G. l.. s.
Answer-The purchase outright Of
an oil stock, such as Pierce Oil, is n
speculation just as much, although
not as risky a speculation as a pur-
chase ON margin. We would advise
you to sell your oil stock and put the
money received in q good bond. Ii
you could sell the stock in the neigh
borhood of 70, you could add little
to the money and buy Colorado e.
Southern refunding and extension 41s
per cent bond, due 1895, recently sell.
ing at S114. yielding over 61s per cent
If held to maturity.