davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-04-05
CRAIC'S BORROWING
POLICY ASSAILED
City Chamberlain FaUors
Long Tern, Securities.

Chamberlain Philip Berolzheimer re-
newed yesterday his public attack upon
the policy of Comptroller Charles L.
Craig. OF borrowing for the city on short
term notes instead OF upon long term
corporate stock
The Comptroller's policy" said Mr..
Berolzheirner. takes ont OF the market
about 500. 900 900, which is almost en-
tirely bankers' money rather than in
vcstors' money. ard which must be re-
newed constantly.
again, the rate Of interest upon the
long term securities would be lower than
upon the short term.
Further, Il is a speculation whether
the future rates viii be higher or lower
than the present rates. In the opinion OF
every financial expert, these long term
corporate stock bonds could be sold at .
premium and would be absorbed by in
vestors as they are being absorbed In
other citles-say at 8 u per cent.--and II
they sold at 103 the net return to in
vestors would be $40 per cent. or just
a trife above the present per cent.
bonds, which yield the investor about
5.05."
The New York herald., 1921-04-05
opposition to centraI,s Plans.

II was reported from Chicago ycgter-
day that opposition to the Now York
centrars plans to acquire the terminal
properties Of the Chicago Junction and
Chicago River and Indiana Railroad
com; anics had developed from road1
having terminal properties in Chicago A
hearing on tho proposal starts this
morning in Chicago before W. ", Col
ston of the Interstate Commerce Com
mission. Roads opposing the plans claim
that control Of tho belt lines by one
rad would tend to locaiize industries
TOO nu;oh III rs fascr.
The New York herald., 1921-04-05
DIVIDEND PASSED.
American Rect Sugar Company Ex-
plains situation.

The regular quarterly dividend Of 2
per cent. on the common stock of tho
American Beet Sugar Company, due at
this time. has been passed BY the di-
rectors. The reason assigned for the
action was contained in the following
statement, issued after the meeting:
The high figure paid to the farmers
for beets has been the greatest factor in
augmenting the cost Of sugar produced,
resulting in a slight profit only for the
year ending March 81, 1921. The flnan-
cial condition Of the company Is thor
oughly sound The tangible current as
sets, sugar on hand at present market
prices, large holdings OF Liberty bonds,
cash in banks and bills receivable. are
greatly In excess OF current liabilities.
The working capital remains intact and
there is still balance remaining In the
contingent surplus fund after providing
for dividends on preferred shares paid
during the year and raserving a sub
stantial sum for improvements"
The New York herald., 1921-04-05
OFFERS CELLULOID STOCK.
Issue of s3,000,OOo to Bear Per
Cent. Interest.

Clark. Dodge & Co. are offering
100000 OF per cent. cumulative pre-
ferred stock OF the Celluloid Company
at par and accrued interest. With this
issue the company will have outstand-
ing S.0Woo0 Of preferred stock and
Sl,Vss,WO OF common and no funded
debt Total net assets will aggregate
sl4.JO3,642 and net quick assets, includ-
ing only $1.500,0o0 from the present
financing, about s7.35O,Oo0
This financing Is the first the corn
pany has undertaken since its organi-
cation more than thirty years ago, and
in addition to the offering of preferred
N.l8W0 Of common stock has been
underwritten to be offered to stock
holders for subscription at par The
company which manufactures celluIold
and celluioid articles. has plant at
Newark. Beginning in 1923 a sinking
fund OF 10 per cent. OF net earnings
after preferred dividends is to be set
aside each year.
The New York herald., 1921-04-05
C. AND E. /. PLANS DETAILED.
REORGANIZATION Involves Use of
918.I1O,37O.

The reorganization committee OF the
Chicago and Eastern Illinois Railroad
Company, through the reorganization
managers, Kuhn, Loeb & Co.. made pub
lie yesterday detailed plans for the ac-
Quirement OF the old Chicago and East
ern Illinois line.
The amount of cash required is placed
at S16.110,370, of which s6,o00.0o0 is 70
pay receivers certificates: s3,000,000 TO
retire Evansville and Tei're Hnute first
consolidated mortgage per cent bonds
maturing July |, 1921: s4.003.292 to pay
the Chicago and Eastern Illinois general
consolidated per cent. bonds; ;524,3S3
for the Evansville and Terre Haute first
general mortgage per cent bonds and
$3.107,073 for claims against the receiver
and to pay expenses OF foreclosure and
to furnish working capital.
The cash will be provided as follows.
In hands of receiver. from loans from
Interstate Commerce Commission revolv-
ing fund and in settlement growing cut
of Federal control S10,S00,00o; $3.50
370 from the sale of per cent general
mortgage bonds Of the new company TO
stockholders of the old company or un-
derwriters.
The New York herald., 1921-04-05
Reorganization of Chicago and Eastern
Illinois Railroad Company

Plan and Agreement for Chicago and Eastern Illinois
March which the
has adopted
MORTGAGE COMPANY
the and
has stock under
Plan
Holders the preferred stock Of the
Illinois Railroad
of the following bonds
Consolidated
due
1855
Evansville Haute Reunding Mortgage $50 Bond due s4
N o before April 80, 1921
depostors
payable before April 1921
the Plan which reference hereby for
Of
front
New York
CO..
n
The New York herald., 1921-04-05
BRITISH START CHAMBER HERE

The British Empire Chamber az Com
nerce has been organized in New York
for the development OF closer trade re-
lauons between Great Britain and the
United States. The new organization 4.
Intended to cooperate closely with Amer
lean business houses and financial in
stitutions having business relations with
the British Empire and TO assist In
stimulating markets and facilitate tran
sactions between the two countries. v
II. Darrell Il president OF the new or
glnization. Its temporary offices are
I'll lG5 Broadway.
The New York herald., 1921-04-05
CONSOLIDATED EXCHANGE.

Many speciaities. motors. marines and
steels advanced to about the days best
levels during the final hour OF yester-
days Consolidated Stock Exchange
trading. At the outset there were re-
cessions OF a point to poins in ac-
tive Industrial shares and average losses
Of about 1 per cent. In rails. Declines
of SIS by Mexican Petroleum to 1884,
and Of by General Asphalt to 57Is
and rallies of 2is by Sears-Roebuck to
TIA, OF 1s by Baldwin Locomotive TO
81. O. by Crucibie to S31a and Of 1s,
by Atlantic Gulf to 357s were feature
changes
The New York herald., 1921-04-05
BORDEN EARNINGS SHOWN.
SIO.D5 a share on Common stock
Earned In 1920.

The report OF the Borden company
for 1920 shows net income. after charges
and Federal taxes. Of S2.s1S,s60. or
S10.95 q share earned on tho common
stock after deduction az preferred divi-
dcnda. Gross sales were sl20 2s3,573
and net operating profits. after depre-
citation end pr perty taxes. of ss,503. oo2
Interest charges amounted 70 s540,0 0S2.
and Federal taxes 10 sii4.06o. After
dividends on bath classes Of stock there
remained r Mrp'us for the year Of
Ss30,1sf. and total profit and loss sur
plus OF s6.e0A.777 after deduction OF
loeses On properties and securities sold
and appropriations fer reserves.
Bank loans have been reduced from
St2.75o.00o to $500 900. Net income
was 2.s4 per cent. or gross sales for
1920. compared with az per cent. III the
preceding year
The New York herald., 1921-04-05
EARNS $4,000 A SHARE.

The report Of the steel and Tub
Company OF America for 1920 shows \
surplus. after taxes. interest. &c, ~
s6.315.209. Oh s36.09 share earned on
It's outstanding preferred stock. Its ne;
earnings, after taxas and writeiown Of
Inventories, we're stf.1A2.34f, and Its In
terest charges $1.797.713 For Geprecia-
ti0n s3.029,4i9 was charged of and ST.
225.Oo0 was paid IN preferred dividends.
The New York herald., 1921-04-05
REPORTS 4,s7o FAILURES.
n. q. Dun 4, 60. Give Ttgurcs for
Fsrrt Quarter OF 1871.

For !ac first quarter 81 1871 Il. g.
Dun & 90 lsclosoa business failures
numbering d.Ss0. Involving s17s. .ae9 Of
indebtedness. Those figures contrast
with onlv ig2s nsalveaclea Cor So. .,O2. .49a
reported FOR the firgt quarter Of last
yepr.
ON only four other occasions In thirty
years have there been 70 many failures
In any three months period. The lie
bilitiea or tho past quarters insoven-
cies are the largest for any quarter
OF which there rs q record.
The New York herald., 1921-04-05
nuMANIAN OIL sroNopoLY.

BUCHAREST, Rumania, April 4-Par.
lament has adopted = law creating q
petroleum monopoly. The monopoly will
BE- managed BY corporation In which
the Government will participate. The
corporation will control domestic prices
Of petroleum.
The New York herald., 1921-04-05

issued by UNITED STATES MORTGAGE
AND TRUST COMPANY to depositing
bondhoidcrs under IN agreement dated
March l5, 1915, between such holders Of
FUNDED DEBT OF CHICAGO EAST
ERN ILLINOIS RAILROAD COMPANY us
shall become parties to said agreement in
the manner therein provided tthercin and
herein designated Depositing Bondhoiders)
parties of the first part, and JOHN w.
PL8TrEN and others therein and herein
designated the Committsel. party OF the
second part.
This notice is particularly called 10 tho at
tention OF holders Of certificates Of deposit
under said agreement representing funded
debt Of the following issues:
Chicago { Eastern, Illinois Railroad Com
pany
General Consolidated and First $50 Bonds.
due 1897
First Consolidated 65 Bonds. due 1884
First Extension Ggs Bonds. due 1891
Evansville and Terre Haute Railroad Com
parry
First General so Bonds. due 1912
First Consolidated co Honds, due 1921
NJ. Vernon Branch sqs Bonds, due 1923
Sullivan County Coal Branch so Bonds,
due 1890
Evansville Belt Railway First $50 Bonds,
due 1870
Pursuant to said agreement OF March f5
1918. the Committee has this day approved
and adopted a PLAN AND AGREEMENT
FOR REORGANIZATION OF THE CHI
CAGo q EASTERN ILLINOIS RAILROAD
COMPANY, dated March 81. 1921. under
which Messrs. Kuhn. Loeb & Co. are 70 act
as Reorganization Managers. and filed a
copy thereof with the United States Mort
gage and Trust Company as Deposi;ary at
its office. No. 50 Cedar Street. Borough Of
Manhattan. New York city.
Pursuant TO raid agreement the Committee
publishes notice OF the fact ot such approval
and adoption and filing. The date OF first
publication Of notice is April 5. 1921.
Pursuant 70 said agreement the time
thirty days) within which Depositors may
file notice OF disssnt from said plan and
agreement shall begin to run from the date
Of the first publication hereof.
In case any Deposit,ng Bondholder desires
% Withdraw his bonds from said agreement
a. March Is. 1915, he viii be called upon to
surrendor 70 said Depositary MS Certificate
Of Deposit properly endorsed II registered
and TO pay 70 the Depositary for account OF
the comInittee such amount as the COMMITTEES
may in accordance with said agreement Tx
as a fair contribution toward the cotnpensa-
t,on and expenses and indebtedness OF the
Committee. end to pay 20 the Depositary Tor
account Of the Committee the amount with
interest) which may have been advanced by
or ia behalf Of the COMMITTEES to such De
nositing Bondhoider on the bonds or ooliga-
.ions ,hus 20 be withdrawn In accordance
9Th ths terms OF tho agreement Of March
is. 1915.
conis, o. the Plan may be obtained from
,he oeposi.ary or the Secretary of the Corn
rnittes.
Dated. New York. April 5. 1921.
JOHN W. PIATTEN, Chairman
John W. ALTIN6
JOHN u. BLUNT, Jr.
FRANKLIN q. BROWN
CHARLES n. BUTTS
FREDERICK ". ECKER
RoBYRT FLEMING
DONALD q. GFDDEs
WILBUR =. JOHNSON
OTTo II. KAHN
HAROLD PALaGANo
JOHN .. PULIEYN
MELVIN \. TRAYIoR
COMMITTEES.
Joseph r. COTTON. Counsel.
CALVERT BREWER. Secretary.
bB Cedar Street, New York Cts.
United STATES MORTGAGE AND TRUST
COMPANY, pepositary.
The New York herald., 1921-04-05
ttABT. Ifs.

RIO 1T5 reis higher. Exchange nd. up
= i.gd. Dollar rate 20 lower At ee10O
tleccipts II 900 bags and stock sol 600 bagr
Santos futures unchanged 70 100 reis lower
Receipts 1000 bsga and stock 2.sl0, 600
bags Eece,ptaa ono M ne por's %ere !, oop ~ 900
years ago. Sac Pauio had $4,000, againrt
. .O00 and 2s 600 and Jundiahy 10000 against
3 900 and - 600 bags. respectively. Fine
10 coo hegs for New York and 5000 TO
Baltimore.
The New York herald., 1921-04-05
Talks
To Investors
NsiSM

FoR TWENTY YEARS bond values
have been declining. In 1901.
Lake Shore 3l2s sold mt ITO and
above. In 1920 these same bonds
sold below 60,-a decline Of al
most 80 per cent.
AND YET there was moro prop
erty value and more earning
power back of Lake Shore 3bs
i'm 1920 than there was i'm 1900.
The change I'm tho worlds price
for money during the twenty
year period was the entire cause
for this great change in the
price of the bonds
WHIT WILL BIZ the position OF
these bonds during the next
twenty years? Will they recover
10 the early high figures, will they
decline still lower, or will they
bold the present value?
QUESTIONS or THIS TYPE arc clearly
answered by our organization of
investment experts. For twelve
years up TO the year 1920 We fore
cast "a declining tendency in high
grade bonds of ali types. We arc
now as confidently forccasiing
their trend for the future years.
EVERY INVESTOR who owns long
term bonds should be kept closely
In touch with tl1c trend of the
worlds money market. No in
vestor can be permanently sue
cessful unless he understands
the fundamental factors which
affect investment values.
Give us an opportunity To tell
you all about our Investment
service. IL win pay you.
Moody's Investors Service
JOHN MOODY, Prcsi5eat
IS Nassau Stree: Ncw York, ". y
xoSToN PHILADELPHIA CHICAGO
The New York herald., 1921-04-05
SUGAR.

The range OF prices Ia yesterdays
sugar futures market follows:
The New York herald., 1921-04-05
COFFEE.

Tho range or prices In yesterdays
Office futures market follows:
The New York herald., 1921-04-05

To Holders Of Certificates OF Deposit OF
THE EQUITABLE TRUST COMPANY OF
NEW YORK. issued under Deposit Agree
ment dated May 2s. 1919, representing
shares Of COMMON STOCK or shares OF
PREFERRED STOCK OF CHICAGO AND
EASTERN ILLINOIS RAILROAD COM
PANY.
El Mundo. [volume] (San Juan, P.R.) 1919-1990, 1921-11-05
rEATRo "sTRAND".

Lya Mara, la artista que ha de ser su
predilecta en- la obra de Leon Tolstoy
Gamma Karenine''
Nafana:-La maravi!la del cine. La
monumental obra ''Hombre sin Dios'.
El Mundo. [volume] (San Juan, P.R.) 1919-1990, 1921-11-05
Lo DEL cUARTE1 DE BALIAJA

Con respecto a 10 sucedido en- ell
cuartel de Ballaja de cuyo srceso in
formamos antier nuestros lectcres, nos
ha manifestado ell digno Comandante
Orbeta que Ell individuo Eduardo Del
gado, penetr6 Embellishments en- el Guar
tel valiendose para clio de una ropa de
soldado. va en- Ell cuartel invite a va
rios soldados a jugar, ejerciendo el de
banQuero, y como habia maiciosamen
te preparado los dados, logro ganarles,
valiendose de esa artimafa, $165,00 a
los que con 6l jugaban. Descubierta la
estafa, Sc produjo una fuerte algarada,
teniendo que intervenir la guardia y
llevando preso a Delgado, ell cual, mas
tarde, despues de salir del calabozo
fue castigado en- la forma que dejamos
consignada.
El Mundo. [volume] (San Juan, P.R.) 1919-1990, 1921-11-05

Antonio Moreno en- los episodes nueve
diez de la serie "'El Antifaz Sinies-
tro" " una comedia.
Misunderstanding en- los episodios
siete, ocho y nueve del Maestro Crimi
nal" y una comedia.
El Mundo. [volume] (San Juan, P.R.) 1919-1990, 1921-11-05
E5EE[;C.l.h[lQEl.Q|,,l, ] |, ),
CINE TIRES BANDERAs"

Los episodes siete y ocho de la sen
sacional serie "Los Milagros de la Sci
va y sus rellenos comicos.
Mafiana:-El bonito drama en- seis al
tos interpretado por Warley Barry titu
lado 'No te Cases.. Dado 10 extraor-
dinario de su argumento, creemos que
ambos sexos, masculine y femenino de-
bieran presenciar la exhibition de esta
joya cinematografca.
El Mundo. [volume] (San Juan, P.R.) 1919-1990, 1921-11-05
sELIoGRAPR, (Catano)

La casa Pathe presenta la gran pro-
duccion la Cruz Ajena''.
Mafiana:-La extraordinaria cinta en-
siete actos titulada ''Eu TERRA de Le-
yenda.''
El Mundo. [volume] (San Juan, P.R.) 1919-1990, 1921-11-05
CINE LUNA.

La Comedia en- cinco actos titulada
''El Sefior Bueno" con Wolf Hooberty
y ell episodio doce de la serie "Mala
Sombra.''
Ma6ana:-El drama en- seis actos, I'll
tulado Sci Club Fantasma'' y una CO.
media.
El Mundo. [volume] (San Juan, P.R.) 1919-1990, 1921-11-05
CINE R1ALTo

George Arliss con Sylvia Dreamer en-
81 sensacionalisimo drama en- siete ac-
tos, que tanta acogida ha tenido en- ell
plbhco neoyorquino titulado lei Dia-
blo".
El Mundo. [volume] (San Juan, P.R.) 1919-1990, 1921-11-05
JINE NORMA.

Los episodios tres cuatro de la Sc
rie clos Milagros de la Selva''.
Mafiana:-La divertida comedia dra-
matica en- cinco actos "El Senor Bue-
no" ell episode doce de la serie
"La Mala Sombra''.
El Mundo. [volume] (San Juan, P.R.) 1919-1990, 1921-11-05
CINE "PUERro RICO"

Los episodios ,cinco seis de la serie
"Los Milagros de, la selva" una CO.
media.
Mafiana: Nuevos episodios de la sensa
cionalisima serie ''Los opalos del Cri-
men,, una Revista una Comedia.
El Mundo. [volume] (San Juan, P.R.) 1919-1990, 1921-11-05
rEArRo "R1vo11" (Rio Piedras)

La bellisima Lya Mara en- la bonita
cinta ''Caprichos de un Millionaire
afiana:-Arthur Boucher en- la her
mosa comedia en- cinco actos "El Gran
Dfa''.
The Washington herald., 1921-03-28
REPORT ON Mines
SHOWS OPTIMISM
Boston and Montana Head
Hopeful Over Outlook of
Holdings.

BOSTON. March 2T.-The annual
statement, and operating report of
Eoston and Montana Corporation for
1920 is in preparation for the
printer and il is expected to be in
the hands of the stockholders within
the next week to ten days.
AS an index of what this report
may be expected to show. it is sig
rificant to review President Aliens
recent statement to the effect that
Notwithstanding the difficulties of
the past year in the financial world
the development work on the mill
and the railroad have gone steadily
forward.
Mine development has shown in
creased ore reserves and increased
values and was fully assured a suf-
fcicnt amount of ore to make the
proposition a financial success with
out a question. and the grade of ore
Is sufficiently high so that the COM
pany should make very satisfactory
Profits from the beginning Of opera
tions.
The mine is now in condition to
furnish the mill with ore for several
years to come. Developments in the
western section have shown an in
creased value, especially in gold
and silver"
The Washington herald., 1921-03-28
TOBACCO MACNATE.
GOES TO ENGLAND.
George ]. Whelan Reported as
Seeking Solution to Ex-
port Problems.

NEW YORK, March 27.-George
J. ,'Whelan, president of United Re-
tail Stores, and reputed to be a con-
trolling factor in Tobacco Products
Export Corporation, sailed on the
Aquitania this week for the re-
ported purpose of looking into the
English business of Tobacco Prod
ucts Export, which established a
factory in London last year.
1t is with hope of finding a solu-
tion to some of the problems of the
export situation that Whelan has
gone abroad TO get first hand view
OF things, it is reported.
Certain prominent British finan-
cial interests are said to have for
some time indicated they were de-
sirous of assisting in the develop
rnent of the business of Tobacco
Products Export Corporation. 1t is
also reported consideration has been
given to a plan to change the COM
pany to a British corporation.
In this connection it is recalled
that more than once there have beer,
rumors-always denied-of a possi-
BILE merger of Tobacco Products Ex-
port and British American Tobacco.
Reuben M. Ellis is president of
Tobacco Products Export. He left
New York in January for Shanghai,
to take personal cnarge of Tobacco
Products Export Corporations fac
tory there and to aid in development
of business in the Orient generally.
China is said to hold tremendous
potentialities for the tobacco trade,
and Tobacco Products Exports fac
tory. under President Ellis's direct
supervision. is expected to give the
corporation unparalleled facilities
for growth there.
The Washington herald., 1921-03-28

Aside from the settlement of
tariff and taxation questions the
two most important problems to
come before the next session OF
Congress are those dealing with a
national budget system and the re-
organization of government depart
ments., The new administration Is
committed to these reforms and 1t
seems very probable that at last
some action will be taken on them.
The present system of appropri-
ating government money is without
doubt very inefficient and wasteful.
1t lacks entirely that element of
individual responsibility which is
regarded as esential in any private
business.
At the present time the various
government departments send their
estimates of proposed expenditures
to the Secretary of the Treasury
who assemblies them and transmits
the whole to Congress. In the
House of Representatives the vari-
Gus items are referred to sub-com-
mittees Of the committee on ap-
propriations. Hearings are held be-
fore these sub-committees at which
AhC uCooo VI uCkoA IlAChto anu VI
bureaus have the opportunity TO
explain the various items and pre-
sent their arguments. The commit
tee finally reports the bill to the
House, where 1t is again gone over
with a fine tooth comb, but in which
government officials have no op-
portunity to defend their measures.
Any appropriation for a new pur-
pose is subject on the floor to a
point of order and may be blocked
by a single member.
Anyone who has had experience
with the varying psychology of
large groups of men knows very
well that in the time which can
be devoted to these bills, it is al
most impossible to get uniform or
judicial action. On certain days al
most any kind of a proposition will
pass without a protest. On another
day, especially after few rousing
speeches on economy, it is almost
impossible to get any kind of a
new measure through even; though
1t Is of the utmost Importance.
Under these conditions the execu-
tive branch of the government has
nothing to do with the annual bud
get. The responsibility rests en-
tirely with Congress. The Presi-
dent, however, is responsible for
carrying out the measures passed
by Congress. Yet he has no hand
in planning the work upon which
his administration must stand or
fall. Under the proposed budget
system the various department.
heads would send their estimates to.
the President. who would review
them and in consultation with the
department heads would make such
cuts or such additions as he saw nt.
The various reports assembled in
to budget would then go to Con-
gress as the Presidents plan for
the coming year. On the basis of
this budget he would be ready to
go before the country and to stand
or fall on it as the policy of his
administration.
or course. Congress would still
have the power to review and alter
this budget as it saw fit, but such
changes as Congress might make
would be squarely up to ii to de-
fend. Furthermore the budget
would come: to Congress as a care
fully thought out document instead
OF the mosaic which 1t now is.
DR.. w. F. Willoughby, director of