davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-12-16
Great Northern

Question: purchased some OF the Great
Northern stocks for investment at rs and
a fraction 1t would appear from rscorcs
that portion OF their last two dividends
has been taken out OF surplus. The Dues
ticn in mind is az TO the probabilities OF
another dip into their surplus or whet her
their earnings ara likely to be sufficient
to take Of the next dividend without
encroaching upon surplus. or course. there
must be limit to how far their sur
plus can be used to make up the neces
sary dividend; What Is your opinion Of
the prospects2 Do you think 1t would be
wise to get out Of 1t at about cost and not
take the chance OF what appears to be q
rather douotfur condition TO earnings
OF this road for dividend purposes? My
stock is fully paid. Do you think that
cate that they can cannot continue their
present dividend oasis?-T j.
Answer-If you can get out Of Great
Northern stock at cost we would ad-
wise you to do it, since you say that
your requirements are Investment, not
speculation. Until the beginning of
September, 1921, the Great Northern
was doing little more than earn lis op-
Grating expenses and taxes, with moth
ing left for fixed charges, much lcss
dividends. September and October
showed an improvement, but either
purchase of Great Northern, or holding
it when you could get out at cost, would
be speculating as to whether or not
these gains show a permanent change
fer the better 1t is pure guess
as to whether they can show enough
improvement to justify continuation of
dividends, even in view OF the good
showing OF the Burlington, in which
Great Northern owns i substantial
interest
New-York tribune., 1921-12-16
Anaconda Copper
And American Brass
Merger Is Nearer
FORMER Offers $50 and 3
Shares for Each of Lat
ter, Involving s45,OOO,-
900; Others May Follow

;. nat is believed in the financial
olstslct to be one of the steps toward
greater consolidation o. coroorate ~
terprlses was taken yesterday when
important stockholding interests OF the
s1haconda Copper Mining COMPANY and
the American Brass Company met to
present definite plan by which the
la.eer would be merged into the Ana.
conda company.
Ihls viii be done, according to John
a. Coe, president of the brass concern.
Cnrousn the offering to American Brass
shafenolders In the near future Of an
optlon TO dispose of their holdings to
the Anaconda company for $3.50 cash
per snare and three shares OF Ana
oonda Figuring each share of Ana
eohaa worth 500 share the transac-
ION VIII involve total payment to the
american Brass shareholders on
S45 100000.
Inc offer, it was said, will be CON
dltlonal upon the deposit of at least 81
per cent OF the outstanding American
Brass capital stock, of which $4,000
goo is outstanding The period in
winch American Brass stockholders
may signify their assent TO the deal
will probably last throughout the
month of January.
There were present at yesterdays
meeting stockholders approximating
40 per cent of the American Brass
ComPany's stock, and these representa-
tives unanimously approved the mer-
ger plan, subject to the working cut
OF the details. A. committee formed
Ior this purpose consists Of Charles
r: Brooker, Royal Victor, A. II. Lar
KIN, Harris Whttemore and c. S.
Bliss. II and when the consolidation
IS completed the American Brass work
ing organization will continue as at
present.
Those who represented the Anaconda
Company at yesterdays meeting in
clpded John D. Ryan, chairman Of the
board, and c. f. Kelley, president
Mr.. Ryan said that no new financing
would be necessary to carry out the
merger OF the two companies.
The American Brass Company" be
said, SIS the largest single consumer
of copper and zinc IN the world ana
the Anaconda is the largest single
producer. American Brass in is peak
year turned out 600 600 pounds Of
the metal, or 40 per cent of the ccun-
try's entire output"
air. Ryan added that negotiation.
involving the acquisition of the brass
company had been going on for six
months and that a letter would be
sent to Anaconda stockholders in q
A@S ~ wv aSAtls bHeiH 10 approve tae
transaction.
TIE merging of the Anaconda and
the American Brass companies, it is
believed in the financial district, will
be followed by further consultations
Of leading producers of copper metal
The American Smelling and Refining
Company, the Kennecott Copper Corr
poration, the Utah Copper Company,
Braden, Chile are mentioned IS one
group that may cenae together The
other group, it is said, viii include
the Anaconda, Inspiration, Magma,
Calumet & Arizona and certain other
properties in the Southwest.
Progress is reported in the plan for
merging the more important of the
independent steel companies. including
Republic Iron and Steel. Midvale. Lack
awanna, Youngstown, Sheet zncx Tube,
Inland Steel and the Steel and Tube
Company Of America.
New-York tribune., 1921-12-16
seek Credit Relief
For American Farmer

WASHINGTON, Dec. 15.-Failure OF
s'sssnt-day financial and credit svs-
''ns 70 meet the needs Of the people is
as'atening the destruction of the funda-
asa'al American industry-agriculture
senator Ladd, Of North Dakota, de-
-a'ed to-day in opening the conference
saea Dy him to seek legislative relief
aum ,. ,ne situation. Senator Ladd de-
m,oea ..sa MS proposed Federal loan bu-
ssas ssas as as one method of relief, asserting
,sss "a. through it the government would
ss ,Ssume Its proper function of issuing
ssausy nsasy and of providing credit to all the
''vple on terms of equality.
.,;ss ;sSs.iating .,g that loss to "al indus
- a'aa a.s glasses" ass during the last few years
,r,.s r,s.Sso,uoo'ooo,0OO, with an equal loss in
,,s..saaaslng ,s.sa power, had resulted from de-
la.sa value of farm produce. he decIares
f,ss,ias ss sals could be traced TO the mon
rsss rsss'oning Of capitap' held by a few
psss corporations.
n..s saI FEDERAL loan bureau bill pro
yusJ rsrs. 70 advance credits to farmers on
M 'vase y receipts, on city real estate
4 sS oo per cent Of it's value, on farms
% A per cent and farm improvements
Sarspp representative e James H. Sinclair. of
aons.. DaAota, also criticized the present
ssserr.' system, declaring the Federal
n s.se sswo Board was controlled absolutely
LOT the benefit of bankers,
New-York tribune., 1921-12-16
Deere 4 Co. Stock

Question--My father. who owns some
Deere q Co. preferred stock, has asked my
advice 70 holding it at present. That IL,
II the corporation has prospects OF sur
viving the present depression. He is not
dependent the income from this stock.
Any Information you can give mo Will be
greatly appreciated. 1 would also like to
ask about the Chandler Motor Company.
Do you know of any reason why the stock
should not be Il fair business mans tn
vestment at present "A. b.
Answer-We would rate the Chandler
Motor Car Company stock as spec
ulative and as not coming under
the head OF investment, in the sense
in which we use the word in these
columns, or in the sense in which the
word is ordinarily used. 1t is the
merest guesswork as TO how soon
agricultural implement companies will
begin again to do a normal business.
If youS father can afford to face the
possibilities of loss of income, and If
he cares to take the risk involved in
what amounts to speculation, al
though entered into probably in the
spirit of investment, he would be justi-
fed in holding Deere & Co. preferred.
Otherwise we would advise selling it.
New-York tribune., 1921-12-16
United Cigar Weet;no

In connection with the proposed is
sue OF s5,000,0o0 preferred stock by
the United Cigar Stores Company. a
special meeting of stockholders has
been called for December 27. Share
holders will be asked to authorize an
additional slo.0o0,000 preferred, bring
ing the total authorized up to $4,000
wv. The additional s5,000000 will be
held IN reserve against future require
ments, 1t was announced. Common
ana preferred shareholders of record
december 2S will be given the right to
subscribe to che new stock. The rights
will expire january y.
New-York tribune., 1921-12-16
preiudiced Against Rails

Question--Klndly favor me with your
suggestions for an investment OF $4,000 10
SEQ, geo (now in Liberty bonds and w. S.
50 in first grade safety first" railroad.
Industrial and other securities yielding 5
per cent or better (6 II posslbe) 1 have
some prejudice against rails. and any Sc
lecticns In that industry must be gilt
edge beyond reasonable questionR. S. D..
Answer-In our opinion some of the
best investments outside of railroads
are the bonds of the hydro-electric
power companies. We suggest Niagara
Fails Power first mortgage 5s, due 1882,
recently selling at 95la, yielding 5.57
per cent If held to maturity, and Mon
tana Power first and refunding IS, due
New-York tribune., 1921-12-16
Days Dealings in Bonds
The Market

Prices generally were frm in che
bend market ut the exchange yesterday.
The Victory AA per cent notes were
again conspicuous, with an advance co
new high OF 10000. Other United
States government issues wore some-
what irregular, although changes were
not large In tho foreign government
group the Belgian government se were
the strongest feature. Irregularity
marked the course of railway issues,
with the prime descriptions holding
Arm As \ rule,
New-York tribune., 1921-12-16
Exchange Seat at 100000

ssnbss.1sck ssst1ck 8. Moseley has sold his
Fr.Ssosrship in the New York Stock
los 20 Charles c. Auchincloss,
sssors. ~ nominal consideration. and
,nysss ~ Thompson his to Waiter 3.
als I1s' v.. ior Ss6. 1000. The last previous
Toosss s'.er .s, T. Loebmann, Sherman 3.
zen sIas.a Iaa Alien Reynolds Bishop have
!hsSss' Ian s'scted to membership in the ex~
New-York tribune., 1921-12-16
Financial Iser,ss

l. r. Powell Jr.. long in the aeeouating
'i uep taneHt OF the Seaboasd Air Line Rail-.
way Company. has been elected q vt..sz
President in charge OF accounts With
Offices at Baltimore
Walter 7 Loebmann recently elected to
membership in the New York Stock Ex-
cnange and In the order department OF
Vilaa d Hickey, has been admitted to gem
ersi partnership inkthat firm-
Z. Il. Eilicott haA ben elected director
ok the Safety Car Heating and Lighting
Company. To Ill vacancy on the board.
New-York tribune., 1921-12-16
Should Sell Her Stocks

Question: have been bit anxious
about some stock bought number OF
years ago. Seven shares OF 1r-at North
ern preferred at sl32 pay Z per cent, two
shares of United States Rubber preferred
at s1o7 pay per cent. The balance OF
my small savings s invested in war
savings stamps railroad and Liberty
bonds I am not dependent upon the In
terest. 1 save and invest it. Do you
think 1t advisable to sell the stock and
invest in something else? If so, pleasa
suggest some hond-Mrs j Il c.
New-York tribune., 1921-12-16
0uotatiorS.
Paris Market Firm

PARIS, Dec. 15.-Prices were firm on
the Bourse to-day. Three per cent
rentes 50 francs 25 centimes. Exchange
on London, 81 francs 80 centimes.
Five per cent loan, 80 francs 90 CEN
times The dollar was quoted at 70
francs 36th centimes.
New-York tribune., 1921-12-16

Questions OF genercl interest to in-
restors wiIl be answered in this col-
nmn, in ,0hich case only initials ao,l!
be used. Others wtII be answered by
mail. Address all inquiries; inclos-
ing q stamped, addressed cnpelope. to
Financial Editor, The Tribune, 1sl
Nassau Street, Nev York City.
New-York tribune., 1921-12-16

Answer-Under The CIRCUMSTANCES
which you describe we would advise
you to sell your Great Northern, which
is preferred in name only, there being
no common. and your United States
Rubber preferred, not because they are
without merit, but because they involve
speculative elements. One of the par
ticularly safe, sound, recently offered
issues is, in our opinion, New York
Telephone IS, due 19A1, offered at 9712
and selling higher than that when
issued
New-York tribune., 1921-12-16
Days Neac Issues

A syndicate headed by the Guaranty
Company of New York and including
the Equitable Trust Company, East
man, Dillon & Co. Redmond & Co. and
the Fidelity Trust Company Of Buff
falo, is Offering to-day an issue of
S7360,0o0 City of Buffalo 4 p per cent
bonds dated December Is, 1921, and
January 3, 1922, and due serially 1922
20 l942 The Offering prices range from
$l0o.29 to $l06.13 to yield from 4.2O to
4.G5 per cent. The issue consists of
So,o00,00o school bonds, $1,000, 600 hos
pital bonds, and 100000 sewage dis
posal bonds.
William r. Compton Company are
Offering s45o,0oo Yazoo-aIi aIississippi
Delta Levee Department, State of Mis-
sissippi, direct obligation AZ per cent
serial bonds due July l, 1926 to 1856
Inclusive at a price to yield $50 per
cent. The 1895 and subsequent ma
turtles are optional on any interest
period after 1886
Eldredge & Co. were awarded yes
terday an issue of S1,75s.000 City of
Cleveland serial 5s and 519s on a bid
Of s1o9.71, Public Offering will be
made later
The Hooker Electro Chemical Com
pany is negotiating with Hemphill,
Moves & Co. for the sale of an issue
OF S1,250,000 Z per cent twenty-five
year bonds.
Keane, Higbee & Co. are Offering an
issue of S50,000 Benton Harbor Mich.
6 per cent direct obligatiop bonds due
ls92 to 1851 at price 70 yield 4.80
per cent.
New-York tribune., 1921-12-16

TO figure the precise yield on a bond It
IS necessary to use yield tables but the
approximate yield can roughly be figured
out by the following formula Divide the
closing quotation on bond into the rate
below par you must allow also for rhe
appreciation Of the principal To do this
or 100. and divide the remainder bv the
number Of years the bond has to run be-
fore maturity. For example, If a 8 per
years to run, the annual return Will be
6.6s per cent. The difference between par
and the market price Will be 10 points
points by ten years the auotient will be l.
This figure is TO BE- added to 66s, which
is the annua! return, and the result, 1865
per csns, VIII give you ths approximate
New-York tribune., 1921-12-16
London Market Steady

LONDON, Dec. 15.-Prices were
steady on the Stock Exchange TO-DAY.
Bar gold, 98s Id. Money. "a per cent.
Discount rates, short and three-month
bills, 3la per cent.
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-12-30
PLACES OF DANGER
People are Safer on the Ocean Than on
Land. tt
(By a Staff Correspondent.J


The average person suffers q dis-
abling accident once In seven years
II may be only smashed thumb or
sprained ankle, but 1t puts the sunerer
temporarily out of business.
If one would avoid disabling accis
dents, the safest place is indoors. ~
bed, In the cellar. ttt
Next to that the safest place Is q
Pullman car on a railroad train. so
say the accident insurance companies
A passenger in an ordinary railroad
car Is much safer than at home, be-
cause he is sitting still and few things
can happen to him. If he Is in q Pull
man. and there Is a collision, other
cars may be smashed, but his own yes
hicle. being Of steel and enormously
heavy, will likely escape serious In
jury.
For all that is said about the perils
of the. sea. you are just about ten
times as safe on O ship as on land.
One man in every 1900 Is fatally hurt
by an accident on land; on the ocean
only one person in $4,000 suffers ecci-
dental death.
IL there is safer place than a Pull
man car, 1t Is the Boardwalk at. Allan
tic City. Nothing ever happens on
the Boardwalk; the municipality sees
to that. 1t is via sacra-c sacred
road of planks. The town authorities
keep q watchful eye upon 1t day and
night. There is never any disorder
there; nobody is held up and robbed.
In winter, if so much as an inch Of
snow falls on 1t, the srow-plows ap-
pear and remove 1t. II anybody were
to slip up and tumble on the Board
walk the Jersey resort would deem IT.
self disgTaced.
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-12-30
Dangerous Bridge.

There are all kinds Of bridges in
York cOlmty-wOOdcn bridges ana iron
bridges, long ones and short ones, high
bridges and low bridges, and good
bridges and some not so good. On the
main cross county roads and other
much Travelled highways the bridges
arc in pretty safe condition. The bridge
across CrOwders creek at the Riddle
mill in Bethel township, is i much
used bridge. II is q wooden structure
and has been there for several years
and is still in daily use, but it isn't
safe. The bridge has been Knocked all
out of linc-perhaps three or four feet
and i'm places one side of the floor is
much out e line-Somcthng like three
or four inches and to the car driver
who may be a bit nervous it is fright
The understanding is that the old Ca
tawba river bridge on the Fort Mill
road, carried away by the 1916 frcShet
has been dragged out of the river and
a part OF il Is to be used to bridge
Crowdcrs creek at Riddles mill, but
lust how soon tie bridge will be put in
Mace is question that Bethel folks
are much interested in, as the matter
has been under consideration for sew
Cral months
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-12-30

more tastily dressed than the Japanese.
Then were the representatives Of Por-
tugal They speak English well. Meth
erlands comes next, and Belgium next
The Belgians are very handsome men;
50 are the Italians, who come next
Then the handsome representative OF
India, with white turban, regular fea-
lures, square shoulders, bronze COM
plexion, easily one Of the striking fig-
ures In the conference. He is with the
British Empire delegates, which we
have reached in going around the table.
Then we come to Sir John Salmond Of
New Zealand, George Pearce Of Aus
tralia, and Sir Robert Borden Of Can
ada, Lord Lee Of England, Sir Auck-
land Geddes and next to Judge Hughes
on his left, Right Honorable Arthur
James Balfour.
The United States delegation is. on
the right OF Judge Hughes, that a Great
Britain is on the left, and the Anglo
Saxon is a race to be proud Of. when
you put them down with the other
races. Whether growing up in Canada
SHOWS, or Australian or New Zealand
heat, or English fogs, they present an
appearance Of solid attainments and
persevering endeavor. which impresses
the thoughtful.
Mr.. Balfour and Sir Auckland Geddes
are both over six feet tall. Balfour has
snow white hair and florid complex
ion, while Sir Auckland Geddes has a
jaw that gives him the look OF the man
who cannot be swerved from his pur-
pose.
The enthusiasm which greets every
announcement Of progress coming from
the most representative audience ever
assembled to witness deliberations Of
body like this Tin fact the first such
body that has had open sessions)
shows the overwhelming desire of the
world for an assurance OF peace.
While Woodrow Wilson didn't get al
he desired, he started something which
the people of the world have set their
hearts upon.
w. F. Stevenson.
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-12-30

- Expanding activities of the tcdcr-
al courts may swamp them, and DC
LAYING is denial Ot Justice, 'hl"t
Justice William Howard TAFT, oi Inc
United States supreme court, Sald To-
night in an address before the Chicago
Bar association, urging reforms TO cN-
pcGitC court procedure. Chicf JuSlicc
Taft urged three reforms which nc
outlined as follows: First, an increase
in the judicial force in the trial lcu-
eral courts. and an organization anu
effective distribution Of the force hE
the council Of Judges. Second, SIM
plicity Of procedure in the trial lcucr-
al courts. Third. q reduction IN lH'
obligatory jurisdiction OF the Su-
premc court and an Increase III th'
field of It's discretionary jurisdiction
by ccrtiorar. There is no field oi gov
crnmcnt action $" important 10 '"'
ncnplr as nnr courts" he said. There
Is nothing in those courts 50 cSscil'ill
to the dOina: Of Justice as the prompt
dispatch of business and the 'cillnl-
nution from Procedure Of such require
mcnts as will defeat th" ends Of JUS
ticc through tcChnirality and delay.
While the lar and bench ~" really
much Irss rCSponSihl" for delays Ill
legal procedure than ILL" public Isl ike
" TO think. the very fact that they ar,
popularity supposed to he Responsible
should make us act with energy 10
Justify the existence Of our profession
and the maintenance of courts. fX-
animation of the statistics OF cases
brought and tried and personal con-
fercnces with judges leave no doubt
that an increase OF the judges OF first
instance in the federal system is ahso-
lutpIy necessary"
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-12-30

- The Postofiicc Department has ap-
proved reports made by Carl w. Mays,
q marine postal guard who shot ana
wounded two college students near
Denmark, S. c., December II, on tneh
l., fusal TO leave the train Oh which nc
was stationed. Mays contendcd thal
he was obcying orders he had received
in connection with his duty Of guard
ing the mails. when he fired on the
couple. but added that he did not kn9"
that they had been injured until the
train arrived at the next station. Inc
postal clerks on duty on the same train
said the two students had been put OH
several times. but persisted in return
ing, and had finally taken positions pc
tween the storage mail car" and that
uscd for sorting the mails. They were
i,r this position, the report of the CLERKS
said. when the final warning to leave
was given.
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-12-30
FEDERAL TAX RETURNS
Time for Filing is Between januacy
and March 10. ~[


With the approach of the period for
fling income tax returns. January l to
March Is, 1922, taxpayers are advised
to lose no time in the compilation OF
their accounts for the year 1921. A
new and important provision Of the
Revenue act of 1921 is that every per-
son whose gross income for 1921 was
$4,000 or over shall file a return. re-
gardless of the amount of net income
npon. which the tax Is assessed. Re-
turns are required of every single per-
son whose net income was $1,000 or
over and. every married person living
with husband or wife whose net IN
come was $4,000 or over. Widows and
widowers and persons separated or di-
yorced from husband or wife, are re-
garded as single persons.
Net income is gross income, less
certain deductions for business ex-
penses, losses, taxes, etc. Gross in
come includes practically all income
received by the taxpayers during the
year: in the case of the wage Garner,
salaries, wages, bonuses and commits
,sions: in the case Of professional men,
all amounts received for professional
services; in the cases Of farmers all
profits from the sale Of farm products
and rental or sale Of land.
In the making of an income tax re-
turn for the year 1921, every taxpayer
should present to himself the follow
ing questions: .
What were your profits from your
business, trade, profession or voca-
tion?
Did you receive any interest on
bank deposits?
Have you any property from which
you received rent?
Did you receive any income In the
form of dividend or interest from
stocks or bonds?
Did you. receive any bonuses during
the year?
Did you make any profit on the sale
of stocks, bonds or other property, real
and personal?
Did you act as n broker In any
transaction from which you received
commissions?
Are YOU interested in any partner
ship or other firm from which you re-
oa;yed any income?
Have you any income from royalties
or patents?
Have you any minor children who
are working?
Do you appropriate. or have the
right to. appropriate, the earnings oi
such children? II so. the amount
must be included in the return Of in
come?
Has your wife any income from any
source whatsoever? If so 1t must be
included in your return or reported In
separate return of income.
Did you receive any directors fees
or trustees fees in the course Of the
year?
Did you hold any office in benefit
society from which you receive in
come?
Answers to all these questions are
necessary to determine whether a per-
son has an income sufficiently large
to require that a return be filed, and
may be the means of avoiding the
heavy penalties imposed for failure to
do so within the time prescribed.
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-12-30

- Joseph .Horowitz Of Charleston, de-
batting the affirmative side Of the ques.
ton Should the United States Recog'
nize Russia" won the Roddey media
awarded last week at the annual de-
bate before the Euphradian ant
Clarisopic societies OF the South Caro-
lima University.