davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
American Sugar
Passes Dividend
On Common Stock
Quarterly Disbursement
Omitted for First Time in
20 Years: Stock Breaks to
Lowest Since 1893 Panic

Announcement yesterday that direct
ors of the American Sugar Refining
Company had decided to omit the
usual quarterly dividend Of $175 a
share on the common stock for the
first time since 1891, when the COM
pany was organized, came as a surprise
to many in Wall Street, in spite of the
fact that the action of the stock for
several days had indicated that such
action was probable.
Immediately after the announcement
the stock sold down to 627s, almost
point lower than the previous bottom
reached this year and the lowest mark
since the panic of 1898. Large blocks
of stock came out on the decline, ind-
eating that many holders had been con-
tident up to the time of the meeting
that the directors would see their way
clear to make some kind of payment
In fact, many insisted that the divi-
dend would be reduced but not entirely
omitted. The American Sugar Com
pany had paid dividends at the rate
OF at least per cent on the common
stock since 1901. In 1918 it paid 81
and in 1919 and 1920 10 per cent. A
dividend Of 61s per cent was paid in
1900 and at least per cent from
1891 to 1899
The regular quarterly dividend of
Sl.75 on the preferred shares was de-
clared payable October 3 to stockhold
ers of record September l. After the
directors meeting Earl d. Babst, presi-
dent, said:
"Since the crisis year ago in the
sugar industry the American Sugar
Refining Company has been without
adequate earnings on it's refining oper-
atlons. Its income from Investments
has decreased also. Meanwhile it has
taken losses on inventory and by rea-
son of population of contracts for
sugar sold to the trade. While condi-
tons have improved recently, yet it is
the judgment of the board of directors
that conservative course should be
followed. Accordingly, at the meeting
to-day of the directors it was decided
to omit the dividend on the common
stock for the present. The dividend
or the preferred stock was declared.
The building in Cuba OF the raw
sugar Central Jaronu is nearing COM
pletion, and the new refinery at Balti-
n ore will be in operation within nine
months. Both of these properties
should be good earners in normal times
and should greatly increase the eff
cheney of the company
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
Western Union Co.
Sells S15,00O,000
6H@o Bond Issue
Money Needed to Reimburse
Treasury for Expendi-
lures on Extensions; Sc
curities TO Run Is Years

Kuhn, Loeb & Co. announced yes
terday the purchase of s15,00o,000 of
Western Union Telegraph Company
hfteen-year 6i2 per cent non-callable
gold bonds which are being offered to-
day for public subscription at SO and
accrued interest to yield more than
$50 per cent on the investment if held'
to maturity.
The purpose of the issue, according
to letter sent to the bankers by
Newcomb Carlton, president of the
Western Union, is to reimburse the
treasury of the company for expendi-
lures made On account of extensions,
additions and improvements to its
plant and equipment and TO provide
funds for further expansion.
The letter further says:
THE Western Union Telegraph Com
pany has outstanding 9,786,727 par
value of stock, having a present mar
ket value II Approximately $4,000 900.
The company has paid dividends on its
stock uninterruptedly since 1874, and
since 1917 at The rate of 7 per cent
per annum. The funded debt of the
Western Union Telegraph Company
ard of its subsidiary companies out
standing, including this issue of bonds,
VIII amount to $4,000. 600. this being
the first issue OF capital securities
made by the company since 1907
The net income of the company,
ofter charging taxes and before pay
ment Of interest on Western Union
bonds. for the year ended December
81. 1920. amounted to S14,634972, or
bout eleven times such interest for
the same period, which amounted to
S1.33l.s5G. Fer the six months ended
June 80 1921. the ret income appli-
cable to bond interest, notwithstand-
ing the prevailing business depression,
amounted to S4,867,543. while the bond
interest for the same period amounted
10 only s665,925. The net income of
the company. applicable to interest
charges, for the five years ended De
cember 81 1920. averaged $14.252 ,238
or more than ten and one-half times
the interest charges during the same
period
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
Financial Items

STANLEY c. Eaton has become associated
I'm r. j. L.sman & Co in their railroad
trading department.
-.' George E Meyer for The last four years
"la T. " Wagner t Co.. has become as
''cla'so With Thomas n. Mckee e. Co
Frank s'aley and Alexander S. Banks
. .s~se Withdrawn from StAley, Banks Il
rresH. which firm has been succeeded By
I'm 4 Leca, VINO will specialize in the
"A9lsssAaE of secpsities and the purcha ST
shd sale % Industries
= feinhast {: Benret. members OF the New
-ss~ Ssoe% Exchange. have Issued q spe-
-, lst,@! dealing ~ith the position u the
,a..soffs and The present outlook for rail-
Efsesiic1 Lord Hunds has been elected a
- DSI y the New YORK Cotton Exchange.
- -s'9fesncr Naming Of south Carolina,
"a. - q Fis.tor ON the eoor OF the Cot
~ ,fh]1ehanye yesterday. reported crop
S"n'i9'Hs IL bis state very bad
asErbeFs o. ,he Cotton Exchange win
tso-say pn the proposition TO make
~, ~'e@s. september q. preceding Labor
'1cy' a. extra holiday.
40 ~ 'niset Cigar stores Company OF
az - reported aale2 for July OF $50 :
~, e1'n pared wi'n }se257s3 in Juiy,
ss',... ~n1 foF ne seven mouths s43s5i.I5t'
4 s-.'.s' s}.1ss.5f7 IN me 1orrcvpondi)x
:, me preceding year.
r.. NJ, NJ schultz Rs,an stores CORPORATION
"a, "a ~ ks'.s rs Jaiy IT 1909 600. cor!
---- -. ,l'A slf9s.e5o ;or July. 1920
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
Tbs Tribune prints each day tho

Ihe Ir6uro prints each day the
mcturity dates Of all active bonds quoted
on the New York Stock Exchange. The
return on a bond to the invcstor depends
upon three factors: the rate of interest
the security bears, the market price,
and the distance Of the maturity date.
To figure the precise yield on q bond it
ia necessary to use yield tables. bat the
approximate yield can roughly be figured
ont BY the following fo1mxla. Divide
the closing quotation on bond into
the rate Of interest it pays, aud the re-
suit lciU De the annual return. II the
bond is selling beloV par you must
cllolO also for the appreciation of the
principal. To do this subtract the mar
ket quotation from par, or 100, aud d.
eide the remainder BIZ the number ct
gears the bond hos to run before ma
tm'itv. For example, if q per cent
bond is selling at 90 and has ten years
to 21tn, the annual return UiU be 6.65
per cent. The difference. bctwecm par
and the market price rOilL be To- points,
subtracting 80 from 100 Dividing ten
points bv ten years the Qlotient ,oiu be
/. This figure is to be added to sos,
,0hich is the annual rettrn, aud the re-
suit 80 per cent, WiU givs you the dp-
proIindtc Weld
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11

is coming on the Cunarder Aquitania,
" hich will bring their total to s94,560,-
300 since January l.
Equitable Trust Company has been
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
The Market

An easier tone in the bond market
yesterday was attributed to the same
influence which made for unscttle-
ment in the stock market. Prices
sagged off in the case of many issues
which have lately been exhibiting ris-
ing strength, although there was no
real weakness. The volume of bust
ness contracted somewhat. An inter-
esting development in the investment
market is the offering to-day of an
issue of $15,0O0,0O0 Of Western Union
Telegraph fifteen year non-callable 612
per cent bonds, which are being sold
to investors on a $50 per cent yield
basis. These are the best terms any
industrial corporation has obtained in
borrowing new capital in a long time
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
100000
United Fuel Gas Company
Ten Year 7He6 Secured Gold Bonds

Ten Year 712e@ Secured Gold Bonds
VI % s ss s 1s esses
T @ % @ @
cosrANy o NEW yoRKrR
President cmpany whShs arzedasf follows ~ " ~ " ~
oil sS sr c G S ssas the proc 1ng and dssd
vgaaon oand Katucy.L rgqun esofgSrc
cb 5n esd cs"n mYsns sn such 4p%an s Gs
PROPERTY ~ The
West Company asin opuaden7o
a tof 1somHesine extraction plants
Ten Year Secured
xson and f amy
ofadddona htona xuau npants ~
9Fsn to be issued in the
sinking Gold Bs T ponet yp@ wb% the 5 %gs %
h d)amots toonyS1
EARNINGS h arenddA pn,
pr t hdn
edn e year 61ena
A .ss:s @ 4a4
We Reoname dhheeBo
Price 98A and Interest, Yielding 7.75q5
A. B. Leach & Co., Inc.
81 Cedar Street, New York
5ss S 5 ssasss a e
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
Endicott-J Earns
$4.20 Share in 6 Months

For the period from January / to
July , the Endicott-J ohnson Corpora
ton reported net profits, after Federal
taxes, depreciation and all charges, in
Guiding adjustment of inventories, of
81 .a57 ,0l0, equivalent, after prefcrrcl
dividends, to sA.29 share. at $50 par
value, earned on the $l6,S62, 1916 out
standing common stock
This compared with net profits of
$2,075.623, or Sab a share earned on
the Sl6,390, 600 common stock in the
spending period OF the preceding
year. Net sales amounted to S2S.S3i :
55i, against S3s677, 4Ol. Manufacture
ing profit Melted $3,055.758, compared
with $6,5l9.0s2. Surplus after divi-
dcnds, totated S6046l3. against $76s.
1873 Inventories on July stood Mt
$40, i57 ,t38, compared with sci ,079,6Sl.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
Street Railway Line
Bankrupt by Jitneys

BAY CITY, Mich, Aug. 1o.-The
Saginaw-Bay City Railway Company.
operating local system in the two
cities and an interurban line, went into
bankruptcy to-day, and announced that
night tonight. The action was taken
on petition filed by the Commonwealth
Power, Railway and Light Company
and two other creditors Otto Schupp.
president of the Bank Of Saginaw, was
appointed receiver pending appoint
ment of trustee.
Low rates of fare insisted upon bv
the city councils of Saginaw and 3ay
City and jitney bus competition were
declared by John A. Cleveland vice
president Of the company, to have made
it impossible to operate the lines ut a
profit
The company's liabilities are given
as $3,588.85l, while the value Of its
assets is placed at $4,000 900.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11

advised that $l.7o0,oo0 gold from
France will be shipped to them on the
French liner France, due TO leave in 4
few days.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
Injunction Is Denied
Application Against Cities Serv-
ice Dividend Fails

The application of Robert B. Rosen-
brth for an injunction restraining the
Cities Service Company from paying
dividends in scrip instead of cash has
been denied by United States Dis
trict Judge Knox, who, in a de-
eision filed yesterday, held that
in declaring dividends in scrip
instead Of in cash the directors
Of the company were within their
rights. In the opinion of Judge Knox
the mere fact that the corporation has
large surplus, or net profits. does not
erut!e stockholders to payment of
dividends.
The court held that any setting aside
Of assets to provide for the retirement
O. scrip issued upon subordinate classes
Of stock is subject to the rights of
holders OF scrip dividends upon the
preferred stock.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
Days NeW Issues

A new issue of 100000 ten-year
TX per cent secured gold bonds Of
the United Fuel Gas Company is be-
ing offered by A. B. Leach e. Co., Inc.
at S9A and interest, yielding IT'S per
cent. The company holds under lease
or in fee gas rights in Sal 900 acres
and oil rights in 100000 acres in West
Virginia and Kentucky. Fifty munich
palities Of West Virginia, Ohio and
Kentucky are supplied with gas.
The National City Company, syndi
cate managers in the $7,5Oo,0o0 Re-
public of Uruguay bond offering, an
nounced yesterday that the subscrip-
tion books had ben closed, the issue
having been oversubscribed.
Cables received here from Argentina
yesterday indicated that for the time
being the negotiations for a S5O,OOO.-
600 Argentine government short-te rm
loan are off. Failure TO agree upon
the terms is said to have caused the
hitch.
Watkins & Co. are Offering new
issue of $4,000 Longmeadow, Mass.
per cent school bonds, dated August
/, 1921, and maturing serally from
1922 to 1941, inclusive. The bonds are
offered on 525 per cent basis to
$50 per cent basis, according to ma
turity.
Fl. L. Allen E. Co. are Offering a
rev issue of s1o4ooo City of East
C-onge,a N. j., 51a per cent coupon or
registered school bonds. They are ex-
empt from taxation in New Jersey, as
well as exempt from all Federal income
taxes, and are legal investment for
savings banks and trust funds in New
York, New Jersey and Connecticut, and
eligible as securities for postal saw
lngs deposits. The bonds are due 1922
to 1916, and yield SIS to 500 per cent,
according to maturity.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
Gold From Far East Arrives
Olympic Brings Shipments
From Asia and England

Additional shipments of gold were
received yesterday on the Olympic,
part Of the consignment being from
the Far East. The gold was consigned
as follows: Kuhn, Loeb g. Co.. one
box from England, value $4,000 stcrl-
ing; Barclay, Hazard g. Co, cighty-tivc
cases, value 9392,473 sterling.
The gold consigned to Barclay
Hazard e. Co. was transshippcd from
q P. & O. steamer from Bombay, and
consisted of British sovcregns, Turk
ish lire and Indian mint gold This
metal goes to various banking CON
Germs in New York. including Kuhn,
Loeb & Co, Guaranty Trust Company,
National City Bank aNd the Sumtomo
Bank, Ltd.
Kuhn, Loeb & G. 4 been advised
that 1925 900 gold } signed To them,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11
Utah Securities Net Drops

Income account for the year ended
December 81 Of the Utah Securities
Corporation Including undistributcd
earnings Of it's subsidiary, the Utah
Power and Light Company, and subsil-
iarics OF the latter company shows
com bined net income of $40 ,339, against
$1l1 ,G74 in the previous year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-11

c been advised
} iigncd 10 them,
Every evening, Wilmington daily commercial., 1921-09-07
DELAWARE TEAMS UP
AGAINST BIG GAME
In Stiff Competition at Camp
Perry, But Hope to Win
Some Honors.

Special Correspondence Every Evening
Camp Perry. o.. Sept. fs--The two
rife teams which will represent Della
ware In the big national rifle matches
at Camp Perry this month are getting
In shape. The National Guard team,
under Major Salter, and the civilian
team, under "Biil" Terriil, both ar
rived in camp Saturday morning a
week ago Saturday and Sunday
we're busy days, drawing equipment.
cleaning the cosmoline out Of Spring
fields and .45 Colts and generally get
tiing down. Monday morning az 7.15,
the two teams started actual work on
thes range, shooting until ,. m. At
| $50 the team coach, a captain assign
Cd by the War Department. gave the
boys a lecture in their company street
and at 715, Colonel Smith w. Brook
hert. president Of the National Rife
| Association and chief instructor in
the Camp Perry school Of Musketry.
delivered lecture on the rudiments Of
| training men in the science OF small
arms firing. The same program has
| been followed every day, so that none
Of the boys has suffered from in
somnia.
1
excellent progress, not only in putting
on creditable scores at the various
ranges, but what is more important
this year, from the standpoint o. the
Guard, in training bunch Of sergeant
| Instructors who win be able to take
their squads 70 the State range at
| New Castle and to indoor practice
| Fl the armories this winter and teach
them the fine points Of the game
which means most to the soldier.
The civilian team is fortunate in
Numbering several oldtimers among its
members. 20 that the tyres" among
the "civies" have plenty Of coaching
from men who have been figures at
the national matches for years. As
result of this coaching the civilian
team, sporting a gold diamond on a
| dark blue brassard. is turning in ex-
ce1ient scores and have visions of re-
turning to Wilmington with Class 'B"
medals. As a matter Of fact, although
none Of them will admit il, every
man on the team really hopes that
| Class "A" medals viii be a part Of
| their watch fobs when the big match
is over.
Continued on page u.
Every evening, Wilmington daily commercial., 1921-09-07
FOOTBALL STARTS.
Candidates For The College Teams
Begin Practice

BY Associated Press to Every Evening.
New York, Sept. 7-Old Man Foot
ball made his initial bow yesterday
The University of Pennsylvania grid
iron candidates started practice at
Cape May Candidates Tor Harvard s
1921 squad were ordered out at Cam
bridge. by Head Coach Bob Fisher.
Chick Meehen, the youthful mentor
at Syracuse, greeted the advance
guard of 1921 candidates yesterday
afternoon. At State College, Pa, more
than three score candidates worked
out under the direction of Coach Hugo
Bezdek.
Rutgers candidates gathered at
New Brunswick for their first scrim-
mage. West Virginia University's
squad is in training at Deer Park,
Maryland. under the direction of Fat"
Spears. the former Dartmouth mentor.
Lehigh's aspirants will report today
or tomorrow at Bethlehem, Pa.
Every evening, Wilmington daily commercial., 1921-09-07
BILL" NJ 'GOWAN A
CLASSY ARBITER
Local UmP Gives Big League
Stars Chance to Take the
Air" When They Need it.

Wilmington's member of the AN
cient and Horrible Aggravation of
Baseball Umpires," "Bill" MCGOWAN.
continues to shine as the Beteleguese,
whatever that is. of arbiters in the
international League. according TO
sports writer's in cities where Bill
has been efficiently working this sea-
son.
BY calling EN- as he sees 'em, and
e has been eyeing EN- correctly, Will
lam has become not only the best UNI
ire in the circuit, but he is as popu-
ar with the fans as it is possible for
any umpire to be in any league and
hats saying something An umpire
may be good and unpopular; but he
eannot be punk and remain in the
good graces of the fans. Amt nature
wondeful?
Now and then, in addition to the
job of watching the ball. Umpire Nc
Gowan finds it necessary to present
considerable atmosphere to players
who suffer from crouch or over-feed-
ing.
The latest victim to the majestic
sweep of Bills trusty arm, which
means take the air" is old Fred
Merkle, the venerable ex-Giant, who
hobnobs with George StaIIings. ex-
Miracle Man of the Boston Braves
Tor two years, and present Master
3ean of the Rochester, n. Y club.
In recent contest between the J.
:. Skeeters and Rochester, Old Fred
look il upon himself TO argue the pro
and con of ''balk" and to dissent
vigorously and to great length 10 the
opinion of Umpire MCGOWAN. After
patiently listening to the tale of woe,
Umpire Bill de1iberated a second and
awarded Uncle Fred damages to the
.xtent of one luscious mulberry. which
5 thrice, as big as a razzberry and
waited him to the cooler. The law
inexorable, Fred.
Merl<le. it may be remembered, is
the fellow who, few years ago, beat
his own brother Giants out Of pen
nant by failing to touch second base
during a mad rush for the home plate
and all intermediate stations. For
this Uncle Fred was honored with the
title of Bone Head" and, it is said
he was the first baseball player to
earn this sobriquet He has lived
the monicker down, however, and to-
S~s - PttAf Ait1 tAttsAA <AtS92 belHEJetll III
the International
According to the Rochester Herald,
they select their umpires out there
with as much care as a sultan picks
his wives.
a few days ago Bill I<illefer and his
Chi. Cubs hoped off at Rochester for
an exhibition tussle with Stallings'
battlers. Killefer figured the Rochester
outfit was just good enough to bring
out Alexander and himself as battery
mates and chief attraction
Umps Bill MCGOWAN and O'Brien
were chosen for the job and as con-
siderable space in thes papers was
given TO this part of the affair il ap-
pears that umpiring is considered as
important in the International League
as peanuts III a monkey cage
Well. good umpiring makes for good
ball games. That's why there haven't
been any good ball games in Will
mington since Mr.. and Mrs. Worm
eased up Noah's famous gangplank.
Didn't know he had one? Neither did
we
Every evening, Wilmington daily commercial., 1921-09-07
ABRAHAMS To PILOT
CHESROOK ELEVEN
Meeting of Candidates Will be
Held Tomorrow Night; Start
Practice Soon.

The football season will find Ches
rock represented by one of the tastes
,eams IN the clubs history. Manage
Eddie Abrahams, the new pilot. has
leen working overtime and has al
ready arranged games with some of
the best teams in this section.
A meeting of the candidates will be
held tomorrow evening and all former
Chesrook men are requested to he
present as important matters will be
discussed. Any other players desir-
ing tryout with Chesrook are Invited
TO attend this meeting.
While Manager Abrahams has not
eeen able to reach all of last years
men, he feels sure that none OF ths
Old faces will be missing when ,hex.
inc up for the first kickoff.
1t is planned TO start practice with
in the next ten days
Every evening, Wilmington daily commercial., 1921-09-07
RudIey Gets Team Going.

Coach Sam" Rudley of South Side
Eden has called football practice fol
this evening at at the club rooms.
Bah" McNif, one of the best all
around athletes IN the State has been
elected captain Of the team and with
the men from last year as a nucleous
in addition TO the men who have sign
ed up, the 'tBridgers" should turn out
first class team. All players are
requested TO meet at the club rooms.
s13 South Heald street at 8.
Every evening, Wilmington daily commercial., 1921-09-07
ANOTHER FOR LIBERTY
Defeated Arcade for the Second Time
by the Score of I2 TO 5.

by the Score of IL to 5.
The fast going Liberty A. c. hand
ed Arcade their second straight de-
feat on Monday. at Seventeenth and
Spruce streets, u to 5. The game was
featured by several catches by Ma
suire, which cut Arcade's runs.
Connor led for Liberty with tn.
stick, getting four straight hits while
Dougherty and Thompson also star
red. Every man on Liberty connected
with the ball for a hit. making a
total OF p hits
F'ahey who was on the mound for
Liberty pitched excellent BAH. hold
ing his opponents where he wanted
them. besides having ten strikeouts to
ms credit, while Carpenter had seven.
In the afternoon Liberty lined up
against Baker All-Stars and handed
them defeat. 8 to 1. Taggart led for
Liberty, getting a triple and homer.
while Riley carried the fielding honors
Toy was on the mound for Liberty
and pitched excellent ball. while
Dougherty was on tbs mound for
Baker All-Stars and also pitched good
ball. This game was played in one
hour and 10 minutes. being one Of
the fastest games ever played at Sey-
enteenth and Spruce
Liberty would like to arrange a
game with some fast club in or o,,t
Of the city. Eastlake, Union. Krehs
rive POINTS or any other teams de-
sirane series should get IN touch
WITH =. townsend 29l5 West street
city.
The following players are request
ed to be on hand tonight at Seven
teenth and Spruce at s: E. Cullaine
~. Toy. j. Ferris. E. Fahey. Ma
guire. CoyIe, McCIoskey. Doughertv
Thompson. Townsend, Taggarf. Rfley
The score: