davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-12-10
Computing, Tabulating and Recording

The rise Of approximately 10 points
in Computing, Tabulating and Record
ing during the last month has tegun
to attract speculative attention to
these shares. talk with one of the
company's officials yesterday brought
out the information that earnings for
the current year on the 1903 shares
Of no-par-value stock outstanding will
be in excess of the 81 dividend re-
quirement, despite that 1921 was a
year Of depression in some Of the COM
pany's lines. This official declared
that this years revenues were derived
largely from the tabulating machine
business, SO that with any improve
mcnt next year in general business
other departments should reap the
benefit in higher income Since 1912
the company has added S7,200,0c0 to
it's investment account, of which near
ly $6,00O,000 was taken from earnings.
The company so far this year has cut
down its notes payable by about $780,
600, or 30 per cent of the total. The
United States Circuit Court of Appeals
recently handed own decision for
S475000 in a patent suit won by the
company, and when this sum has been
received it probably will be applied to
a further liquidation Of floating in
debtcdness
New-York tribune., 1921-12-10
Changes Small
In Irregular
Stock Market
Rail Shares Move Uncer-
tainly in Continuation
of Rebound: Industrials
Are Bid Up by Traders

In the stock market there was
further curtailment of activity yester-
day. Professional spectators took the
initiative In price movements. and,
with Corn Products a focal point, they
bid up the prices on industrial stocks,
Railroad shares, which have reacted
for almost ten days, were irregular and
slightly easier. The movement is
speculative rebound from the squirt
which preceded.
The tightening of call money rates,
which brought the rental charge of
borrowing funds for one day up to 6
per cent per annum, the highest rate
IN month, relaxed yesterday, and
rates fuctuated between and 53a per
cent. The stiffening reflects a dimin-
ishment Of funds available for this
special purpose, and this is due largely
to the heavy how to the interior. 1t is
not expected to last long. and signifies
no check in the fundamental credit
easement which the country has been
experiencing.
In tho foreign exchange market the
price variations were slight and the
close irregular. Sterling cables, how
ever, were quoted at $4.1oM to
the pound, the highest rate since 1919,
when the pegs which artifcially kept
the rate around $4.76 pound were re-
moved. The mint parity for sterling is
S4.s66, and in February, 1920. the pound
was quoted at S3.1S, the low point in
the recession. On January 8 of this
year the pound was quoted at 1854 for
cables. which IS the low for the year
The upward surge represents not
mere changed trade currents, but also
heightened currency in the ability of
Great Britain to work out its cur
rency and broader financial problems.
The prospects for an agreement that
will clarity the German economic posi-
ton and the promise Of settlement of
the Irish question are factors behind
the present optimism. Offerings here
of sterling bills have been light re-
Gently.
Visions Of an improved economic
order in Europe, accompanied by
specific gossip about possible German
buying, stimulated speculation for
the rise in the wheat pit, where prices
fiuctuated feverishly and closed with
net gains of v to 1A. A reaction fol-
lowed advances in the cotton market
and Anal quotations we're three points
lower to one point higher.
Further profit taking in tho bond
market carried quotations slightly
lower in an irregular session.
New-York tribune., 1921-12-10
A Market Opinion

Goodbody & Co., members Of the
Stock Exchange, take the view that the
entire market is being controlled by
funds seeking investment. cat the
present time," the firm says, "the mar
ket must be meeting selling to record
losses and to provide funds to pay the
last installment OF the income tax. due
December Is. 1t is also successfully
meeting moderate amount of short
selling melted by the weakness in GER
tain stocks, such as St. Paul, Pennsyl-
vania and Sears Roebuck. This indi-
Gates that there is considerable de-
mand for most securities at only small
recessions from present prices, and al
most serves to convince that unless
unfavorable and unforeseen develop
ments take place there can be no gen
eral reaction. The bad stocks are apt
to continue weak and the good ones
steady to strong"
New-York tribune., 1921-12-10
Days Ne,o Issues

The Guaranty Company Of New York
announced yesterday an offering Of
$4,000, 900 ten-year sinking fund per
cent gold notes Of the Tobacco Prod
ucts Corporation, dated December l5,
1921, and maturing December Is, 1891,
at price Of 100 and accrued interest.
A sinking fund is provided 20 retire
one-half Of the issue by maturity.
The notes are redeemable at tho op-
ton of the corporation at 1lo during
the first year, the premium decreasing
i per cent annually thereafter. The
sale Of notes will provide the company
with additional working capital.
A syndicate consisting Of Harris,
Forbes & Co., W. R. Compton Com
pany, the Northern Trust Company
Of Chicago. and the Bankers Trust
Company Of Denver was the high
bidder Yesterday on the sale by Mari
copa County, Arizona, Of an issue Of
$4,000 900 serial highway bonds due
1931-195l. Bids were invited on .
basis of 51zs or IS. The award will
probably be announced to-day.
The syndicate composed Of the First
National Bank, William r. Compton
Company, Harrison, Smith & Co., Esta-
brook & Co. and associates, which
offered the S11,2OOo00 State Of Penn
sylvania AK per cent bonds announced
Yesterday that the entire Issue had
been sold.
Eastman, Dillon & Co. are offering
a. block of 100000 Philippine govern
ment public improvement SIS per cent
gold bonds at IO6 and interest, to yield
more than 5 per cent. The bonds are
dated August /, 1921, and are due Au-
gust !, 1941.
New-York tribune., 1921-12-10
Corn Products

Buying Of Corn Products featured the
market yesterday and the stock moved
UP to new high for the year at 94as
The closing sale, at 94A, showed a net
advance of four points. There was
nothing new in the Corn Products sit
uation to account for the unusual rise
except fact that has been common
knowledge In the Street for the past
several months. This is that the COM
pany in the current year will earn
about double the dividend requirements
of $6 q share on the common stock.
Some statisticians calculate that the
company's total profit and loss surplus
at the end of the year will be equiva-
lent to the entire outstanding common
capitalization.
New-York tribune., 1921-12-10
An Investment Problem

what have to invest and your sugges-
tions will be Immediately acted upon Ny
s.hond holdngs Of $500 ts T. st.
fourth L. L., s4OO fifth l.. L.. $500. all
bought at par. one each Of the 81 900 900 oonds aIs
note bought at sss7s2; Bethlehem Steel
Marine, s95s97. bought at 1858 81; Great
Britain and Ireland. 1929, bought at $3.50 !;
Denver & Rio Grande, bought at s,'oohi sSoo ,D =
bought at s6515s. and Copper EXPORT AS
socaton, bought at S1,oS7 or stocks as
follows: Two shares Realty Trust Com
pany of Birmingham, Ala, paving 8 per
cent and has for years two shares Macon
(Ga.) National Bank stock, for which !
am to-day offered s135 per share pays 9
per cent: one share Commonwealth Hotel
stock. one American Telephone and Tele-
graph Company. twelve Magma copper: @
Hecla Mines and two certificates OF de- de-
posit of Georgia State Savings Association
paying Bh per cent Eloo certificates)' ~
the moment I have between $500 ana
$4,000 to invest In casn comes from sale
Of q house. My salary Is sufficient TO pay
all my living expenses and permit sme 70
want to invest this money for long time
investment. not seeing any need OF making
conversion OF 1t for long time in the
future. I carry fairly heavy insurance,
which is taken care OF by my salary In
come, and as I see it I want the best re-
turn on my money. with minimum risk,
of course. Personally, I was considering
taking the loss on the I. II. 7: bond and
switching those funds with tho rest to
some other investment. What is your
have tried to keep my list varied, splitting
up between railroads, foreign mining etc,
and have practically no industrials.
getting out with whole skin and feeling
satisfied with that l should add that
do have twenty shares of General Motors:
averaging about 124s. and Aye shares OF OF
American Writing Paper, at 33. which are
my only Speculative" ones. with the pos
sbe exception Of the hotel ny stogn .h SSaS me
have a few shares of Silver King Of Ari-
zon a speculative flyer. which failed to ny
sons broker in order to change off this
legitimate 1921 oss?-R. E. r.
Answer-Your bonds are good invest
ments, in our opinion, and we would
not suggest any change. 1t is ques-
ton whether or not to hold on to the
Interborough Rapid Transit notes; our
own inclination would be to hold them,
but this is a matter of opinion only
Somewhat the same lines Of reasoning
which induced you to sell your Coca
Cola might we'll also induce you to
sell your Commonwealth Hotel stock
Where you are inve sting both the pro
ceeds of the sale of your house and
from time to time, presumably, com
pounding the interest you receive on
your investments, we thing that long
term, low-coupon rate bonds are good
investment. We suggest Kansas City
Southern first 3s, due 1850, recently
selling at GIN; Denver Rio Grande
consolidated (now first) as, due 1886
recently selling at 707s; Adams Ex-
press collateral As, due 194S, recently
selling at 681a, and Bush Terminal
Building first mortgage 5s, due 1860
recently selling at "a. We think that
you would be wise to sell your Silver
King of Arizona.
New-York tribune., 1921-12-10
Wickwire-Spencer Steel

The upward movement in Wickwire-
Spencer Steel shares yesterday to a
new high for the year was accom-
panied by reports that this company
eventually will be taken into the pro-
jected merger Of Independents. Outside
the Steel Corporation it is considered
the largest manufacturer Of wire prod
ucts. Outside the possible speculative
attraction Of the merger talk it was
pointed out that the company is now
running on a profitable basis, opera
tions being in excess Of 75 per cent of
capacity. Orders on hand are said to
be sufficient to insure high rate until
March.
New-York tribune., 1921-12-10
To Close or Not to Close

10 close or not to close on the Saturday
preceding Christmas Day is a question
that brokers on tho floor Of the Stock
Exchange arc now trying to decide.
There will be no business in securities
the Monday following, as that will be
observed this year as the Yuletide holi-
day, Sunday falling on the 25th. Some
brokers' have started q petition to
close on Saturday, while others have
come out openly against triple holi-
day. From present Indications, how
ever, the yeas will have 1t. Those who
favor the Saturday holiday also want
the exchange closed on the Saturday
preceding New Years.
New-York tribune., 1921-12-10
For a Lady of Seventy

Question--A lady finds her income less
ened by what now may be considered poor
investments. These investments are as fol-
lows: American Cotton Oh preferred stock.
Missouri Kansas & Texas first mortgage 4
per cent bonds. The Cotton OIL stock has
ceased paying dividends, and whether 1t IS
advisable to hold the stock in the hOpt it
may recover is a serious question. The Mis-
souri,, Kansas & Texas first mortgage per
cent bonds the first, and while one in
terest was deferred they are still paying
the Others There has been a reroganiza-
tion Of this company. and whittier these
bonds affected under the plan, this
lady has yet to learn. Could you tell me
about this? The uncertainty of this income
prompts this letter, and to learn whether
you would recommend selling both stock
and bonds and invest in some good paying
stock, such American Telephone and
Telegraph. The reason mention this
stock Is that not only is the company in
good shape but the dividend rate is at
tractive bearing in mind that every cent
counts with this lady. for she has no other
income and Is unfortunately deaf. coupled
with the fact that she is over seventy
by the American Telephone and Telegraph
will exist for reasonable time.-F. A. S.
Answer-We think that, in the long
run. the lady would receive more in in
come If she sold her American Cotton
Oil preferred and invested the money
Al Oii0 VI e1AC AIeu SIdQe DORQS we
often recommend, or in American Car
and Foundry preferred or Standard Oil
of New Jersey preferred. A reorgani-
zation plan Of the Missouri, Kansas &
Texas has been made public, and sunder
it the holders Of the first mortgage 4
per cent bonds are asked, but not COM
PEELED, to exchange their bonds for
prior lien bonds Of the new company
Holders of the present first mortgage
bonds who exchange their bonds re-
ceive $500 new prior lien per cent
bonds and $500 new prior lien 4s and
will receive S23.33 in cash, representing
unpaid interest. We would advise max
ing this exchange. While the American
Telephone and Telegraph stock is not
possibly, quite as safe as American
Car and Foundry, we think your sug-
gestion of selling American Cotton Oil
preferred and buying American Tele-
phone and Telegraph is good one.
New-York tribune., 1921-12-10
Columbia Graphophone Reacts


The announcement yesterday that re-
ceivers had been appointed for the
Pathe Freres Photograph Company
caused some heavy speculative sell
ing in Columbia Graphophone. The
preferred stock bore the brunt of the
attack and sold from 1915 down to IL "a
AT that level, however, support ap-
peared and there was quick recovery
to Ia, with the closing sale at 1919, q
net loss Of two points. The common
declined from 4 to and then re-
covered half this loss. The company
is now in the midst of the holiday buy
ing, when the bulk Of the years sales
are made. At the end Of September
the company was understood to have
$3,000,o00 cash on hand. Banking ac-
commodations are reported to have
been extended until next April.
New-York tribune., 1921-12-10
The Dollar in Foreign Exchang,

Charges were small except In rare
aRs osng
presenting an irregular trend.
Cable rates on London worked up to
S4.1OA, while French francs jumped
at one time to ISL, but later settled
back to around Thursdays level. Ger
man marks ruled firm and worked
slightly higher. Swiss francs dropped
back slightly after early gains, and
guilders were somewhat lower.
Changes elsewhere in the list were
small and irregular
New-York tribune., 1921-12-10
Ford Plant for Germany
DETROIT, Dec. 9.-A factory in Ger

DETROIT, Dec. 9.-A factory in Ger
many for manufacture of automobiles
for the German, Russian and other
eastern European fields is being
planned by the Ford Motor Company
it became known to-day. Charles Z.
Sorenson, member Of the Ford organ
ization, left for Germany a fortnight
ago. AT present he is in London, fol-
lowing a visit to the Ford plant at
Cork, Ireland. He will leave for Ger
New-York tribune., 1921-12-10
I'm Wall Street
New Haven and Ontario & Western

Concurrent strength In New Haven
and Now York, Ontario & Western
shares yesterday was accompanied by
vague rumors that the former COM
pany Ia planning to sell it's holdings
Of 0. & w. stock at price above the
market for tho shares of the latter to
u syndicate. The funds to be raised
thereby, tho rumor said, would be used
to provide money to meet part of the
New Haven's 1899 maturities. Of the
$5S,113,983 common stock Of the Q. &
w. $29,18O,00O Is owned by the New
Haven. Yesterdays closing quotation
of % for the o. g. w. stock would
give value Of $6,416,200. Bankers
uoually associated with New Haven
financing said yesterday that they
knew of no syndicate being formed to
acquire the New Haven's holdings Of
0. & w. stock, either under or above
the MARKET
New-York tribune., 1921-12-10
Financial Items

Henry F. Corwin, manager of the credit
department OF the Metropolitan Trust
Company; Edward c. De varennes. head OF
the loan department, and Arthur l..
Barnes. chief clerk. have been appointed
assistant treasurers OF the company
Donald S. Stewart. formerly with Rollins
Kalbfeisch & Co.. has become asso CT ated
with Stacy 4 Braun, II Wall Street.
New-York tribune., 1921-12-10
Investment
Information,

Qmestions of general interest to ~
pestors wiI be unswered In thts COL,
umn, In which case only Initials sosH
be used. Othsrs will be answsred oy
mail. Address all inquiries, srotos-
ing stamped, addressed emveIope, to
Financial Editor, Tho Tribune. 1s1
Nassau Street, New York CITY.
New-York tribune., 1921-12-10
Railroads Place More Orders

In addition to the order for 1875 900
tons of steel rails just placed by the
New York Central it is understood that
the Burlington has made reservations
on $4,000 tons for 1922 delivery. The
order, according to "The American
Metal Market" is to be divided between
the Illinois Steel Company and the
Colorado Fuel & Iron Co. Illinois Cen
trail and Burlington car inquiries
amounting to $500 are expected to bc
closed in the near future. About 10000
tons of steel will be required The
Chesapeake & Ohio is taking bids on
500 gondola and hopper cars and the
Northern Pacific has ordered 81 passen-
ger cars from the Pullman Company.
New-York tribune., 1921-12-10
Paris Market Unsettled

PARIS, Dec. 9.-Prices were un-
settled. on the Bourse today. Ihree
per cent rentes SIS francs censimes.
Exchange on London so francs 60 ceh-
times. Five per cent loan 80 francs
20 centimes. The dollar was quoted
at 12 francs 50 centimes.
New-York tribune., 1921-12-10
Would Tighten Germany's Burdens

A banker Of international standing
declared yesterday that without doubt
Germany must be given a respacing Of
the dates on which installments on
reparations account fall due" He
added that sentiment In England and
France was swinging around in favor
Of tightening Germany's indemnity OBJ
legations.
New-York tribune., 1921-12-10

many within a few days, according to
information here. The present nlan
provides for the purchase of a large
plant IN Germany and conversion of it
into Ford factory. Announcement as
to size OF the plant, the output and
number of employees is withheld at
this time.
New-York tribune., 1921-12-10
Bid and Asked

Following are the closing bid and
sstsd quotations of stocks listed on
~ stock Exchange IN which there
we're no transactions yesterday:
New-York tribune., 1921-12-10
London Market Firm

LONDON, Dec. 9.-Prices were firm
on the Stock Exchange to-day Bar
gold was quoted at zoos Sd; money
was loaned at "a per cent Discount
New-York tribune., 1921-12-10

URUGUAY (par 103.42 cents a peso)
Checks ........GS50 so $3.50 1915
VEN NEIUELA (par 1913 cents bollvar)
Checks .17.33 e7.33
Canadian Exchange--New York funds II
Montreal. is per cent premium; Montrea
funds in New York. sis per cent discount
New-York tribune., 1921-12-10

Bank Clearings-Bank clearings at
New York yesterday were: Exchanges,
s707 100000; balances. $71 100000.
Silver-London, 34%d; New York,
domestic bar, 99ssc; foreign, 64A
Mexican dollars, 4S%c.
New-York tribune., 1921-12-10
British Trade in November

LONDON, Dec. 9.-~Board of Trade
figures for the month of November:
Total imports. s........,.........f8 .f89. $50 600
Exports OF British products. 62.S90 600
1s-SAfciAs As J,S-p.UOV
Total exports. s................ 72TlO. 900
Excess OF imports ts...........i 16.6A0, 900
New-York tribune., 1921-12-10
Money and Credit

Call money became slightly easier
yesterday. After renewing at 51s per
cent, which was also the closing rate.
The current tightness Of call funds is
attributed to the temporary shifting
Of money to the interior.
New-York tribune., 1921-12-10
BID. Asked

Bid Asked bid ASsSA ss
k. G NJ IS ,os u AeSs'f % iss pt. lSe % lss
Blk pf. 4ss& % NY d p al az
BIT sug pf 5s1a 90 xeiooS 90 "a wb ~ y, S6 Is
essson ess' on sss. 2 Esss q ! D II Z <
pt :, ,4s q 30 kfssss ps 81 pi losx lS,
& loco pl p, s. 100 Kress & Co.. s. 90
1sl ! g; g q I. aG E p Z W p, "a q >,
oSs p 60 e5 I.igg & Ny pf. .los 10
N % os 9G do b ......l54 l6e
Whole pf. "a .. Lima Loco pf ~ ss
Asoor - oe 81 L-w p Isl pf q ~
W 49, ~ * do % pf.. ... 95 IL,
Metals :. 80 rS11 Lorillard pf.. .i03 ~
=, - Is. s - "a n Mackay Cos. ~ ~ ~
otic REF 1859 100 SfaiI,nson l31 -
pf llSA ll3i2 Sians,i e,,v n, 30
Nlch pf.. @ =. .. Mar St Ry p: -
Loco pflol loS tstb sn "A AZ k' w 10 %
ett lea,i CO., 90 os Max Mot cfs. =
pf ..,-. So7a ~ ~ do CTS lst u
pilas pnss Min y "a do 90 efs Sqs !sI ID pi Pr !
h creek % ~ do ..-.- - =,
stseI pi.. - ,sd sd'A May az D ps 100 .
n Tn Gas 70 ~ do / II. 80
IN Shoe 81 "a O, Mullins Body. q -
ssiet r. q q ss y; Sssh r;s,,,i cAa' ss 6 s !s
s,:c ;,:,' ss "a n OK & Suit q -
Is Bros pf.los,s lis Nst IN Lead a 81 p' s W
ida South sS~ o- p VI lat pf
Corp ~ o. o. Y Air BIKE. so
lst m..,- % e., O. & ST L 5I's p
PM & o ssia 90 do do ID ' x. 81 o.
pf .:- 40 40 4oo Dock pf. l3 :
& Pitts 62S so ornb or,,'@ cGrx, If ~
!, reab p 9 "a tp" OTIS risT lev y = 8 %
"a p. lS. Ssn IS ras dc E "a i5s # ~ 30 20 e
Can n. 100 los Pac T & r. 81 q
Insur 70 90 90 Peoria & East
Steel pf 81 o. o. Pitts Cosl pf. 81 s.
Am Sug pf a. 80 FIT W & Clol
Beers -. las< 10 10 Pitts Steel pf. 50 s1
oft EdIsoa 9si5 100 Rvs ssc,,r 60ls 81
Tn R r. . sshs N sn spg pf los
q A. s. HsIs Do 1. 1 &c. r.. :. q ss Il
IAN Hos, ssx 5, 5, Rem n : i it Df 3 3 q q
Kodak. $50 st 10 Lead. is4 lSis
pf -; .loS% .o p r. Sugar. 80 -
,hnson m io41z 1854 stand Mi. les ils
MA Ma S. i 9 .ssn stadsbsksr aa e, ;i.i II % "a
= BODY: ,i; S;S %ss, e : ss'i * g.
Am Tei. - 56es TsI&w pf cfs "a
Asph pf .l0l los Tw City r T. 81 Sc
Davis . loH loA do is, pf IS g.
NJ 4 n 5% -. Und Typewrit l9l ~ q,
man Corp s2 SO do pf .l0Ti4 ls3 Z
ice Mfg. Is II Union Tank "a ps
le Mine :. 54% SIS Tn Cigar st 100 lis
r Steel :. 6i& ~ do pf los
Cent l.. SIX iU S CIP&F p SO e44
Cement >. 27& 27ssU A.c pf SO IS
Harv w. .loeN 8 a 4 pf 43sS 4 =
Trk I'd pf 59at SO Raalte ! NJ s2B "a \,
Nickel pf. 6sE 20 Va c & c IS 81
Paper pf. 95 loI Web He'll II L.
Salt ... As " & l. + pf. IL in
Cent ... 4H 8 Wis Central q so
t g. East go Woolworth pflfs
tS&A ps 6% r. W Pump u 4 seK 50
New-York tribune., 1921-12-10

rates were: Short bills, oss per cent;
three month bills, 3 GIG per cent.
Closing stock quotations:
New-York tribune., 1921-12-10

Four full columns Of in
slcers are published in The
restntent questions and an
Tribune every Sunday
New-York tribune., 1921-12-10
Transactions Yesterday in Listed Stocks
Summary of Stock Exchange Dealings

New YORK Tribune Inc.)
CAi
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1921-04-21
OUR BIRTHDAY

Twenty eight years ago today the Times was estab-
shed as newspaper at Iron River, Wisconsin, and two
years later the rights purchased by J. Jones and
the paper moved to Washburn where has since been
published Until October, 1905 the paper was publish
ed by J. E. jones' when it purchased by the Washburn
Printing Company, it's present owners
In looking our subscription records today find
many of the men, who the Times first subscribers,
still with u.s. which is encouraging and to this number
have been added down through the years
and we are indeed proud of our list.
When the Times first established in Washburn
the newspaper business not overly fourishing but
with har effort behind the paper it's business has con-
trued to grow and prosper
It was the Intention to begin our twenty-eghth year
as an ~An Home Print Newspaper but due to a serial
story which did not complete itself until this ISSUE this
had to be postponed until next week. when the Times will
come to its readers published entirely at home
The Times has always believed in Washburn, Bay
field County and Northern Wisconsin, and it is am
with the help and encouragement of many friends to
make hs of the best weekly newspapers In this part
of the state. -
At this time we wish to take opportunity to thank
those who have remained still counted among
subscribers and those who have favored with their
business We appreciate support and the encourage
ment and good will
It shall be aim to enlarge paper and to make
it a better medum for BOOSTING Washburn and Bay
field County which we love SO well.