davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-06-21
Federal Sugar Co.
Profits Increase
AS L rice Slun1ps
Financial Report for Ten
Months Shows Balance AT.
ter Dividends of $2,336,.
600; Big Gain for Surplus

The Federal Sugar Refining COMPANY
Tor the period from May 81, 1918, to
April ,, 1924, reported a profit after
interest charges and taxes of s3.721. .002.
compared with S1,107,381 earned in the
twelve months ended May 81, 1919. The
balance carried TO surplus on April 2.
after deductlng $1,384 ,677 for dividends
was S2,336,324. bringing the total profit
and loss surplus up to $7,667,529.
n the company's latest balance sheet
cash on hand was given as $1,046,7 6,7O7,
accounts receivable. $2,SS4,701, and
sugar, including raw, refined and in
process, $2,364,327, compared with ST.
o40,457 at the close Of the 1919 fiscal
year Investments were valued al So
61l,1@8, against $2,51G,i62. Current LA
bilities, according to the company's
April statement, were s3,282, $40.
In presenting these figures to stock
holders at the annual meeting yester-
day, Claus a. Spreckels, president of
the company, explained that no fnan-
cial statement was issued last year be-
cause he did not wish to create a
false sense of optimism in the minds
of the stockholders" although the com
pany's financial position was highly
favorable.
81 said" he continued, chat sugar
prices had been raised to a level which
seemed to me to be absurd and ! be-
lieved, therefore, that serious difficult
ties were ahead of the sugar industry.
Well, the storm broke not long there
after. How successfully Federal Sugar
Refining came through the storm this
report will testify. The company has
paid its dividends up to this time and
so far rs / can see will continue to
pay them"
Retiring directors were reelected at
yesterdays meeting of the stockholders.
New-York tribune., 1921-06-21
Days Dealings i'm Bonds


with all the steady fall In spccu-
laave security prices investment bonds
corsanue to render good az
count of themselves. While listed
stocks were falling to new rec
ords yesterday bonds offered fair
degree Of resistance and in the case of
the strictly high grade issues such de-
clines rs occurred were only fractional
On the other hand, some Of the issues
not so well secured yielded suhstan-
TALLY. Rail shares reflected to an in
creasing degree the selling of railway
stocks. The market as whole was
quiet, however, and dealers reported
practically no large blocks offering,
which WAS accepted as indicating that
the volume Of bonds pressing for liqui-
dation is comparatively small. Indie
ative of the general aspect of the
market was the fact that one of the
Streets biggest distributing houses did
the smallest bond business yesterday
in three months. The business was not
to be had, representatives of the house
said, either on the buying or selling
side.
New-York tribune., 1921-06-21
Loss Makes Newspaper Man Timid

CneStion---I am a newspaper man, nifty
years old. and have $4,000 to invest, prac-
appreciate it II you would suggest list
of bonds. have DO prejudice against
Cana adian securities. rs consider the Ca
nadiana sound and Trustworthy people.
10 not want TO touch stocks. as ] know
nothing about the market. During tho
last few years l have purchased some
short term notes, and more through good
iuck than good Judgment havc come out
tnree,yeaf per cent OF the International
traction Company OF Buffalo, which got
into labor, and rate difficulties during the
war and has defaulted on both prinrtpa
and interest. inciose the latest COM
munioations have received from the note
holders protective committee. and would
lika your opinion as to the value of the
note, present or prospective. II X has any
value. understand thore are other note
my mind to write off the $1,000 as lost.
but would appreciate any help You could
GGie Give me in finding out. where ] am at"
OF touching Investments V. r.
Answer-You will notice that three
out of the four men on the protective
committee are connected with E. II.
Rollins & Sons, bankers, of New York.
Rollins & Sons tell us that a plan is
now IN process of formation to offer
International Traction Company's 6
per cent 3-year gold note holders
a bond of the International Trac-
tion Company in exchange for their
notes, and presumably for the bonds
of the railway company which the
protective committee now holds. They
have sent noteholders one letter
at least since the printed circular of
October /, 1920. That was sent early in
May and you should have it, but they
tell us that is nothing but notiGca
tion that progress is being made. AS
things stand now, you have received
certain amount of cash. You have
note which is stamped s24951 paid and
your protective committee holds $2,-
667, 600 refunding and improvement S
per cent bonds of the international
Railway Company. You as a note
holder own an equity in these railway
bonds. Some of the foreign railway
bonds are selling at attractive prices,
in our opinion. All but one, however,
of the Canadian bonds are payable in
Canadian currency, although the bonds
read Canadian Gold" The one issue
which is payable in United States gold
is the s, due 1926. You will see the
difference in price as quoted in New
York.
New-York tribune., 1921-06-21

and the distance Of the maturity date.
To figure the precise yissd on bond it
is necessary 10 ttse yield tables, bat the
approximate yie'd can roughly be figured
out By the following fornuia: Divide
the Glazing quotation on bond into
the rate Of interest it pays. and the re-
cult wfH be The annual return II the
bond is selling belot0 par you must
attow also for the appreciation Of the
principal. To do this subtract The mar
let quotation from par. or 100, and dt-
uide the remainder bg the number of
years the bond hae to run before ma
tarity. Fer caompie. il q 6 per cent
bond is selling Ut 30 and hos ten yccrs
10 Tlsa, the cnnnal return suiH be $50
per cent. The difference bctwscm par
and the market price wiu be 10 points,
otbtracting 80 iron, 100. Dividing ten
points by ten gears, the qaotient seiU be
I. This figure is TO be added to $50,
whtch IS tho annual return, aud the re-
suit 10 7.GG per cent, wiu give you the
approximate Yield
New-York tribune., 1921-06-21
National City Branch Opens

The National City Bank opened its
Forty-second Street branch yesterday
morning in the National City Building,
which occupies the site of the old Man
haitian Hotel at Forty second Street
and Madison Avenue
Thomas A. Reynolds, VINO formerly
had charge of the trust department Of
the National City Bank, was made the
lead OF the new brapch, which will act
as unit entirely separate from the
home Office.
The unusually we'll equipped safe de-
posit vaults and a modern trust de-
partment are among the features of the
rev institution. The National City
Company, the security selling organ'-
cation closely affiliated with the Ma
tional City Bank, will have quarters in
the new building.
New-York tribune., 1921-06-21
[ inds No Evidence
Of Conspiracy to
Depress Mex. Pete
Business Conduct Commit.
tee Of Exchange Unwilling
TO Start Investigation of
Heavy Selling of Stock

The New York Stock Exchange has
undertaken no special investigation of
the recent heavy selling of Mexican
Petroleum shares, despite the reports
from Washington that Z. L. Doheny,
president Of the company, had chal-
lenged the exchange to do so. 1t was
learned yesterday, however, that the
business conduct committee, which ex-
erclSes close supervision where spec
tacuIar movements occur, had been
Matching the recent heavy selling in
Mex Pete," but had found no evidence
CT a conspiracy to depress the value of
the shares. The general impression OBJ
tanned from observation of the char
acter of the trading vas that large
part OF the recent selling had repre-
sented real liquidation.
Oftlclals of the company repeated
previous assertions that the bulk of
the stock, more than II per cent was
still held in the treasury of the Pan
American Petroleum and Transport
Company, so the impression gained
ground that most of the selling within
the last few weeks had come from
'outside" holders of the stock, who.
either because of the present depression
IN the oil industry or through necessity.
had thrown their holdings on the mar
ket.
Official figures made public yesterday
showed that OH May l the Mexican Pc
troleum Company had quick assets of
S29,o62,I50, of which $l1,957 ,224 was
cash. Current liabilities, including re-
serve for taxes and contingencies, were
S11,774,575. Net earnings available for
interest charges for the four months
ended April 80, totaled S5,181 ,638. 1t
Nga nctir fn| L1N e. ~ 4
quarter the net earnings for the pres
ent calendar year, after allowing s6,-
100000 for taxes, etc, will total S22,-
10000.
New-York tribune., 1921-06-21
Receiver Is Asked for
Cuffey-Gillespie Co.

WILMINGTON. Del, June 2o.--A re-
ceivor for the Gutfey Gillespie Oil
Company. Delaware corporation op-
Grating in the Southern oil fields, has
been applied for in the Federal Dis
trict Court here by Dickson @. Brown,
of New York, on behalf of himself and
other stockholders, representing 49,
500 Of the 459,164 outstanding shares
of common stock.
The corporation is alleged to have
liabilities of $2,72O.9S7, which &c ad-
mitted to be less thar the actual value
of the assets, but exceed the amount
of current assets, and the receivership p
is asked as protective measure.
Epsx,rJayAa
New-York tribune., 1921-06-21
An Old Fashioned Trust Company

TIME modern trust company has been compared to
the department store--kc the department. store it
is well adapted to for many aspects of modern
business.
But specialists IN many lines Of business still attract
customers old and new and the management of the New
York Life Insurance and Trust Company believes that
people prefer TO do business with q COM
pany which speciazes in cid fashioned business
The New York Life Insurance and Trust Company has
specialized for more than ninety in the adrnasra
ton Of Personal Trusts. Along with this businesa the
Company has developed banking facilities which have
recently been moderrized so as to afford every con-
venience and interest allowed deposits subject
check as well as tiHas deposits.
The policy Of the management is continue spe-
ciaiZe IN Personal Trusts and conduct its banking
business along tested lines that will keep it safe
depostary for the funds OF individuals corporations
New-York tribune., 1921-06-21
Investment
Information

Questions Of general interest TO ia
ceatoys iciil be anssosreci in this col
u'nn, IN schich case only initials scill
Be used. Others foin Dc amsWered by
mail. Address all inquiries, inoIos-
sng stemped, addressed envelope, to
Financial Editor, The Tribune, 154
NaseGm Street, Ne.c York City.
New-York tribune., 1921-06-21
Bid and Asked

Following are tAe closing bid and
asked quotations of stocks listed on the
Stock Exchange in which there we're
no transactions Yesterday:
New-York tribune., 1921-06-21
Hud a. NJ rfg
- fAST


TIE Tribune prints each day the ca-
taritp dates Of all actiue bonds quoted
on the Neto York Stock Exchange. The
return on bond to the iHpestor depends
upon three factors; the rate Of interest
the ssearitg bears, the market price
New-York tribune., 1921-06-21
Checking Up on Rubber Bonds

Question--About a year ago I bought a
United States Rubber frst 5. 1947, partly
by you in your column as being a good
investment. I also received letter from
you February Is. ia answer to one OF mine,
in which you said it was a good bond.
SINCE that time l have rarely seen you
recommending it. Would you keep same.
or exchange it for a Montana Power first
:, Northern States Power first an
American Telephone and Telegraph col
In 2--R
New-York tribune., 1921-06-21

ident Obregon acted uncon onstitutionally
when he recently issued the decree in
creasing the oil tax, since the action
was tantamount to confiscation.
New-York tribune., 1921-06-21
Answer-There is nothing about this

Answer-There is nothing about this
bond which causes US to stop recon-
mending it. Under varying business
conditions, different bond issues are
more or less attractive as an invest
ment, especially industrials. In giving
advice in regard to United States Rub
Ter year ago, market prices of that
time and physical conditions at that
time were given due weight. This may
In part account for the fact that you
have not seen it mentioned recently in
these columns. We consider it a good
investment, with two outposts Of safety
in the preferred and common stocks,
which are paying dividends, In 1920 the
company earned S256, ,15O gross and
S26,864,2e7 net, while interest charges
called for only $5,64S,314. We see no
cause why you should change to some
other bonds. We think you are wise,
however. to keep close watch on your
securities.
New-York tribune., 1921-06-21

np'es x of italy
hoo - 7's SIS ser A
ooy 1925
:" ,o,, '0H 49,. s6hf
/ s5H x OF Norway
eeS Ss 1870
New-York tribune., 1921-06-21

J 70 s 49,. 72h
~ = Ft ) & Rio G. w col
MAS 1925 Is 1g4O
s 49,. s2A l . SO
Kan CITY SO / . 50X
5s 1850 RI Ark & l.
4 -. 7S% 4hs 1884
3s 1850 / go. 65
& ... rs st L & g r. 4s
2 49,. SAX ser A 1850
The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-01-21
NAMES TWO NEW COMMITTEES
Legion Members Are Appointed by Ma.
tional Commander on Oriental
and Memorial Affairs.

National Commander F. w. Ga,-
braith Of the American Legion has an
nounced the appointH ent of two new
standing committees George e. Roose
welt of New York IL named chairman
of the Oriental committee and the
members are; Paul Edwards OF Wash.
iugton. OrviIle e. Cain of New Hamp
shire. j. NJ. Inman of California
Churchill b. Mehard Of Pennsylvania
William A. Percy OF Mississippi and Al
ton Il. Roberts Of Michigan.
The chairman of the committee on
memorials in the United States is It.
Semmes Walmsley of New Orleans.
Members are Asa W. Gambler of Geor-
gia, Joe S. Harris of Arkansas, Vim
cent j. Jaeger of New Mexico, Miss
Mary Price of West Virginia and Mrs
Julia w. Wheelock of New York.
The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-01-21
READY TO CUT ARMAMENTs
Country Declining Invitation Would
Be Next Germany, Says Bliss.

Washington.-An American call for
world disarmament conference
would be welcomed by the great pow
ers of Europe and would disclose "the
next Germany" should any nation re-
fuse to agree to disarm. General Tas-
ker II. Bliss told the house naval com
mittee on Wednesday.
The general gave the impressions
he had gained through discussions
With European statesmen and soldiers
lille member of the supreme war
council and of the American peace
commission. He said there was an
desire for disarmament,
but added that until definite agree
ment had been reached he would not
"disarm one American soldier or lay
up one American ship"
The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-01-21
DETECTIVES OF THE LEGION
National Commander Galbraith Cut
lines What is Planned to Be Ac-
complshed During the Year.

The detectives of the American Le-
glen for the year 1921 were told by
f. w. Galbraith, Jr., national COM
mander, in recent speech in Gin
cinnati, at dinner attended by Lee
gionnaires and business men.
Mr.. Galbraith cited the disabled
mans problems as the Legion's para
mount concern and termed the finding
of satisfactory solution as one job
that is going to be DONE"
"Woe unto she man." he adta1d, COR
the bureau or bureau chief who will
fully stands in the way of paying the
honorable obligation the government
owes these men. Whoever he is he
will have to get out"
He warned against the activities of
the ]. w. w. and kindred organiza-
lions and outlined the position Of the
Legion as follows:
1.-THE time has come when a line
must be drawn between loyal and dis
loyal Americans. We do not claim to
have q monopoly on patriotism but
because of our service our loyalty is
a little clearer tn our hearts and Is
little more intense. We intend to
crush this thing, If 1t ever raises Its
head, that we already have fought and
licked"
Mr.. Galbraith also SPOKE of the de-
sire of the Legion to unite with the
veterans associations Of the allies, In
order m Dromofe fnterna fiOnal anifv
people accuse us of being over
he said. ''They declare
that we believe ourselves to be the
only patriots. God Knows we are not.
If we were 1t would be sorry day for
the nation. We know we have a hun
dred million associates and we ask
them to help us because without their
good win and assistance we can ac-
nothing
The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-01-21
.FAVORS PROGRAM
To TRIM NAV|ES
SECRETARY DANIELS ADVISES
CALLING OF CONFERENCE
FOR THAT PURPOSE.
Building Program Should Proceed,
However, and If Nc Agreement Can
Be Reached, United States
Should Build Greatest Navy.

Washington.-Th present time was
described as ripe for movement to-
ward limitation of naval ornaments
by international agreement by Secre-
tary Daniels and acting secretaries OF
the state department, in testimony on
January IL before the house naval af-
fairs committee.
Secretary Daniels declared that, in
his opinion, the move might properly
be made by President-elect Harding
who, he said, could "call and hold an
international disarmament conference
within two months after his Inaugural
tion."
Mr.. Harding as president, he pointed
out, would have authorization to call
such conference under the 1916 naval
appropriation act.
Secretary Davis said President VIII
son had not called such conference
because he felt such action would en-
barrass the new administration. Mr..
Wilson did not use the powers granted
him in the 1916 act after the war, Mr.
Daniels added, because he thought par
ticipation by the United States in the
league of nations would result.
The committee was urged by Mr..
Daniels to authorize continuance of
work on the uncompleted part of the
1916 three-year naval building program
until an international agreement was
reached. He asserted If no such agree
ment could be obtained, the United
States should build the greatest navy
In the world"
The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-01-21
REGULATE COAL INDUSTRY.
Drastic Legislation Recommended by
the Calder Committee.

hbC SatdCf SOfiftnhtCCs
Washington. Drastic and far
reaching legislation to bring the coal
industry under federal regulation was
recommended to the senate on Janu-
airy II by the Calder committee as a
result of its inquiry into the coal stu
alton.
The measure, designed to prevent a
repetition of the orgy of profteering
which sent prices to unprecedented
heights in 1920, is one of the most
radical steps ever undertaken by the
congress for the control of a private
industry in times of peace.
The bill proposes. In effect, to de-
clare primarily BY legislative act, that
an adequate coal supply is national
necessity essential to public health
and welfare and to Interstate COM
merce,
Proceeding on this basis, the bill
seeks to place the entire industry I'M
der the regulatory arm of the govern
ment on a plane with government
of the railroads. Represen-
-atives OF the industry already are or
sanizlng Cor a bitter fight. and 1t is
certain TO be contested as stubbornly |
rs the fight that is now waging over !
regulation of the packing industry.
The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-01-21
MORE THAN HALF OF
POPULATION URBAN
NUMBER OF PEOPLE LIVING IN
RURAL TERRITORY IN UNITED
STATES is 51,390,739.
Lone Star State Leads in Rural Reel
dent Numbers, Utah, Idaho, Wyom-
ing and Nevada Having
Large Rural Population.

Washington.-The urban population
of the United States, or people living
in places of 2500 or more, is 54,318,032,
or 51.4 per cent of the country's total
population, and the number of people
living In rural territory is 81 800, 739,
the census bureau announced on Jan
uary Ia. In 1910 urban population
represented 45.8 per cent.
In total urban population, New York
leads the country, while Pennsylvania
stands second and Illinois third Rhode
Island has the highest percentage of
urban population compared with its
total population with 975 per cent
and California was fifth with $50.
The District of Columbia is 100 per
cent urban, inasmuch as the city of
Washington is coextensive with the
district
In total rural population Texas
leads, while Pennsylvania is second,
Georgia third, Ohio fourth and Illinois
fifth, each having more than 1900, 900
people living outside of cities and
towns. Mississippi has the highest !
percentage of rural population as com
pared with its total population, 1t |
being 1856 per cent. North Dakota is
second with 1858 per cent, South Da-
kota third with $40, and New Mexico
sixth with $40.
1t Is shown that Utah, Idaho, Wyom-
ing, Nevada and Arizona have greater
rural population than urban.
In Utah, 215,5S4 people live In cities
and towns while 233,S12 live outside
the towns and cities; in Idaho 119,037
urban and 312,S29 rural residents. The
figures for Wyoming are 57,34S and
l37,054; Nevada. 1924 and g., 153;
Montana, 172,011 and 376,S7S.
The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-01-21
HUGE DRIVE AGAINST
|NEL|G|BLES IN j. S.
A NATIoN-WID ROUNDUP or
oRIENTALS EXPECTED DURING
PRESENT MONTH.
Undesirabies Who Gained Admissios
to American Ports as Seamen and
Were Struggled Into Country
to Be Deported.

New York.--A nationwide roundup
of all oriental ineligibles viii b,
launched January % This announce
ment was made at Ellis Island by Lee
Russell, chief deporting agent of tn,
immigration service.
Sweeping orders for such a round
up have been issued at Washington
and a special force is to be assigned
to the work, Mr.. Russell said.
r. Nj. Kline of the bureau of immi.
grafton of the department of labor,
will have command of the work, and
% with staff of deporting agents for
tour of the south and west seeking
many Chinese and Japanese in the
United States who have no lawful
right to be here" Mr.. Russell added.
The majority of the orientals came
as seamen and took advantage OF
their seamens cards to come ashore
upon arrival of their vessels at United
States ports, deserving the ships and
themselves into sections OF
he country remote from their landing
places, the deporting agent said.
Mexicans illegally in the country
will be rounded up for deportation by |
he Kline force, which Will be under |
riders to hunt for them along the |
order, he said, adding that orientals
yill be deported from San Francisco
nd Mexicans at border points.
Mr.. Russell was at Ellis Island com
letting arrangements for the deporta-
on of Ludwig G. A. X. Martens, Rus
AN soviet envoy in the United States.
The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-01-21
Claims Rights as Refugee.

Washington.-Formal claim to the
rights of political refuge was made
Wednesday by Donal O'Callaghan, lord
mayor of Cork, who entered the coun-
try as a stowaway without a passport,
and whose case is before President
Wilson for final decision as a result
Of differences between the state and
labor departments.
The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-01-21
LENlNE HAS BREAK DOWN.
Soviet Leader Reported Seriously III
Attacks Aggravating Trouble.

New York. The Jewish News
Bureau has made public wireless adj
vices from Berlin stating that Nikolai
Lenine, premier of soviet Russia, was
Ill in Moscow from a general break
down, accentuated by recent violent
attacks upon him by extremists in the
Communist party, who accused him of
selling out the cause" IN his dealings
with foreign financiers, including
Washington b. Vanderlip of Los
Angeles.
The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-01-21
Begins Fieht for Estate.

Los Angeles.-Mrs. Eta Cole Den
ton of Pittsburg, Pa, 1t became known
here Tuesday, has engaged a Los
Angeles attorney TO institute legal
action to obtain for her and her chill
dren the estate of Jacob Charles Den
ton, wealthy mining promoter. for
whose alleged murder Mrs. Louise L.
Peete Will go to trial here January %.
The Oakley herald. [volume] (Oakley, Idaho) 1908-1961, 1921-01-21
WIN Resist Wage Reductions.

Pertland.-The Pacific coast district
Metal Trades council, representing
unions from coast points, went on rec
ord as 'unalterably opposed to any re-
duction of wages at this time" and rec
commended that questions of reductions
affecting workers be referred to local
metal trades councils and internal
tional officers In the districts affected.