davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
Will
CUT INTO TAXES
Slack In Business During 1920
Expected to Reduce Govern
ment Revenues.

Business depression and the shrink
age in profits will cut heavily into
income and profits taxes to be col
lected in the first quarterly income
tax installment March IS, tax experts
today informed the Secretary of the
Treasury.
Some estimates are that the first
quarters record will show collections
considerably under 81 .OOO, 600, 900. The
calculation In some quarters indicated
that the revenues due by March Is.
might not far exceed $3.50 DOC. 900 Of
ficials emphasized the fact today es-
Inmates are only approximate, as no
records are available to show to what
extent last years taxpayers have suf-
fered business reverses. In some
lines OF business the losses have been
tremendous.
Taxes falling due by Tuesday next
are paid upon earnings o 1920, and
the fear OF officials today was that
the slump in values and earnings
throughout the country watch began
to set in early last fall viii reflect
sharp declines in incomes generally.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
TIPPED ny A FRIEND OF A
FRIEND.

II. B.-CD Two years ago /
bought on the recommendation Of
friend OF mine. who himself was
tipped of by friend OF a friend
OF Charles NJ. Schwab. 200 shareA
OF North American Pulp and Payer
1t S4.z5.
Repeatedly l have been advised
to hold on to these shares. What
do you think about IL? CD Kindly
give me your opinion of Oklahoma
Producing and Roaming at present
low price.
existence that has been tipped OF"
any more than North American Pulp
and Paper.
For two years or more almost
every curb market letter has urgent
ly advised a purchase. 1t lent itself
easily. but innocently. to the par
poses of the curb houses and bucket
shops. This was because there was
much favorable sentiment reflected
from the impressive earnings of the
big paper companies and IL made
good and convincing reading, but up
tc date the stock has served as an
unfortunate speculation for many.
1t has just been stated that the
stockholders have voted for a dis
solution and the formation of a new
concern. to be known as the SaEuc-
nay Pulp and Paper Company, under
Canadian law, in order to escape
American taxes.
New stock will be given on a basis
of ten shares for each eight shares
Of old common. The par value of
the new stock will be IS. 1t Is
stated that the companys entire out
put for 1920 has been sold.
We think the stock has fair pos
sibilities, even though IL had so
many tips given about 1t.
CD This company pays 40 cents
a share per annum,. 10 cents quar-
terly on stock of IS par value. The
latest dividend was paid January 1.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
BIC INCREASE IN
BANK EARNINGS
National institutions Have Gain
ed 400 Per Cent
. Since 1900.

! Soundness NJ orr hanLing ,,.,,o,,
| :, i,a;..
= '""'e" g. ny Inc iact 'nat last
year there were only five insolveu.
national banks out OF s.Ols. The five
tna, faiIea b,d ,o,,, ;.,
' 'o,Vvo OUT OF uotai capitsnza ton
ono "' ional oa"hs OF si'zzo''ol'-
a. VI ia'iure was
~ per cent
me previous year made the best
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
CRUCIBLE AND MEXICAN Pc
TROLEUM.

Crucible and Mexican Petroleum
were steady targets for the bears all
day. A good part of the raiding was
understood to emanate from 'the
Waldorf crowd"
For a time. however, ii was whis-
pered, "The fair-haired boy is back in
town and is all over the market" 1t
can be stated that the trader whom
the whisperers have in mind is no;
in town. but, as one broker said.
THE wires still work both North and
South"
II was also rumored that a pool in
Crucible had started to liquidste.
Sales Of Mexican Petroleum during
the day amounted to 5000 shares. or
more than the actual foe ting supply.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
SPEAK FOR FOREIGN TRADE
CORPORATION.

That Washington bankers and
merchants should give full support
to the s1o0.OOO.O0O Foreign Trade
Financing Corporation, was the
declaration of l. L. Stock, member
of the local committee representing
the corporation. in an address de-
livered last evening before the Mer-
chants and Manufacturers Associa-
ton.
Up to the present time, he averred.
the city's leaders in these two lines
have failed to subscribe for the quota
which has been assigned them. AMI
that the project may fail, through the
lack Of interest which is being man
ifested.
II. H. Mckee. president of the Ma.
tional Capital Bank and Gray Silver,
Washington representative of the
American Farm Bureau Federation,
and also member of the local COM
mittee of the corporation, addressed
me meeting, in addition to Mr..
stock.
They, too, averred that subscrip-
tons must come forward at once, or
there is grave danger that the great
corporation idea may go on the
rocks.
All the speakers pointed out par
ticularly that everybody in the coun-
try is either directly or indirectly
affected by foreign trade.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
RAILROAD RATES ON
LIVESTOCK ATTACKED

The cost of livestock products q
involved in complaint filed today
with the Interstate Commerce Com
mission by the National Livestock
Exchange. attacking the present
rates on ordinary livestock on all
class l railroads.
We have reports indicating the
discouraging and disheartening ell
fects of the present rate adjustment.
which, coupled with the recent de-
cline in livestock values, gives to the
producer more than his proportionate
share of the postwar readjustment
burden" said Everett c. Brown,
president of the Livestock Exchange,
in discussing the complaint. Our
organization is glad to lead in a
fight to restore our transportation
rates and charges to normally"
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
PENNsYLvANIA DIVIDEND.

NEW YORK. March 12.-Doubt
as to the continuance Of the Penn
sylvania railroads dividend has been
aggravated by the passing of the West
Jersey and Seashore quarterly payment
Pennsylvania owns $6,747,0O0 OF the
81 $50, $50 capita, stock Of the West
Jersey, and though it's dividend has
not always been earned in the past,
payment has been made regularly
since 1896. While the road operates
only $40 miles of line. it's stock has
heretofore been favorably regarded
because OF Pennsylvania sponsor
ship.
Pennsylvania directors meet next
month, and some traders are predict
ing that the rate will be reduced.
The stock was q little stronger yes
terday. partly on some buying by
small investors.
One prominent house says: This
buying il on the same belief as that
in New Haven several years ago
because the road has a past
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
&c. c. TO RECONSIDER ITS
MAIL RATE DECISION

Upon the petition of the New
England railroads the Interstate
Commerce Commission today decided
to reopen for further examination
the recent decision OF the commits
sion establishing reasonable rates
for different classes Of mali service
performed by the railroads. The
question at issue in the application
OF the New England roads is for a
readjustment of the rates fixed for
special services performed in the
handling OF United States mails at
the terminals and in connection with
special service.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
COLUMBIA GRAPHOPHONE HAS
1920 DEFICIT OF Si,4s7.e 23,
REPORT SAYS.

That the Columbia Graphophcne
Company has a deficit of 81 ,49I,023 for
1920 is shown in the report II the
company just made public.
Sales have been large, but expenses
heavy, the report states, as II Is
pointed out that the sum of S1.911 OIL
has been charged of for adjustment
OF inventories.
A part OF the statement Is as fol-
lows: Earnings, s5.s05.51f: interest
and discount, s655.56O; net earnings.
S5l49.954. Depreciation, etc. Sis5.S13:
inventory adjustment, 81 97i.Ol1: Fed
srpl taxes. s2.1l3.oo6: net ircom,
$3.50 2sf: dividends. se.0Ts.isI: deficit.
81 iaT oa3 previous surplus, q. Sci. SO
total surplus. fi.sss.s.l. adjustmentS
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
LOCAL STOCK EXCHANGES.

The Washington Stock Exchange
saw a nice trading session today with
stocks predominating. and Capital
Traction leading, 1O1 shares chang
ing ownership. Eighty-fi shares
sold at SO and sixteen at S5S
Forty-seven shares OF Washington
Gas were also sold. twenty five go
ing at A. two at 435s, and twenty
at 43% these sales being after call
as were fifty shares of the Capital
Traction-total for the day.
At the opening two $1,000 Wash
ington Gas TVS sold at 100ia and
two 81 900 Washington Railway As
also changed hands. the nrs: at 5S1a
and the latter at. 5Sa4.
After call a $1,000 Potomac Elec-
trio Debenture sold at o. and two
81 900 and one $500 Washington Gas
Us brought 1914 and 7s. respectively.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12

Following the lines of the first
survey. the F & d men are ind
ing out whether industry is get
ting back into it's stride and how
far the public has resumed it's buy
ing.
They are questioning the bankers,
merchants, and other key men Of
their communities about the trend
OF living costs, the building pro-
gram, and the extensiveness of
strikes, unemployment and failures.
In the centers which draw their
wealth from the soil. they are study
ing conditions on the farm and the
movement from rural to city dis
tricts.
In the first survey the return Of
optimism in business was accurately
forecast. This time the nationwide
inquiry will diclose what local and
other issues are uppermost in The
minds of the people.
The f & d men are going to ask
particularly what the average Amer
lean thinks about his taxes, and will
make a comprehensive review of the
business and financial situation.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
STEEL AT LOW PRICE.

Selling of United States Steel con.
tinued throughout the session, and il
closed at a new low price for the
year-$7S q share. The stock con-
tinued to come out steadily, and one
of the most conservative houses in
the Street was said to be identified
with the selling.
The 1920 report will be made pub
lie in about a fortnight and will make
a very strong showing. Earnings fol
the current quarter, to be published
in the latter part OF April, will not be
so favorable, although they are ex'
pected to show well over dividend re-
Quirements.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
SERVICE FOR BROKERS AND
BANKERS,

Roger w. Babson of Babson's Sta
tistical Organization. Wellesley Hills
Mass, will make the address at the
Laymens Midday Lenten Service on
Wednesday at Keiths Theater, the
occasion being known as Brokers
and Bankers Day.
President Charles J. Bell Of the
American Security & Trust Company
will conduct the meeting and Rev.
Lucius C. Clark will give the prayer
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
REAL LIQUIDATION.

II Is fashionable nowadays to ex-
plain all declines as short selling.
However, brokers maintain that some
real liquidation is in progress, due to
the necessity Of raising funds for tax
payments and also to a feeling Of un-
rest.
This was exemplifed by certih-
cate for 100 shares of Pennsylvania
which turned up in a Wall street Of
nee yesterday. after resting for
twenty-one years in stronghold.
The certificate was dated 1900" duly
registered and signed for transfer on
March z, 1921.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
PUNTA Allegro PAYMENT
DOUBTFUL.

Directors of the Punta Allegro
Sugar Company meet for dividend ac-
ton in about a fortnight. The stock
Is on an IS annual basis, but is ex-
pected the rate will be reduced to
81 or IS.
IL IL stated that directors will prob
ably announce the reduction IN order
10 conserve each resources" in view
OF tn" recent Generalization in the
sugar industry and the general BUSH
ness dullness.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
SITS BUSINESS AN + | Ma n CE
LOCAL SECURITIES.
Washington stock Exchange.

SALES
Washington Gas 71s's S1,OOO@10Oh,
81 900 a 1909. .-'
Washington Railway and Electric
As. s1,00O@5SR, 81 ,0OO@5S&.
Capital Traction, l0@S8, 1O@ SO, so
So, 10@S5. 10@S5&, 6@S5&.
AFTER CALL.
Washington Gas Light, 25q44, 20
4@%, 20@43&.
Potomac Electric debenture SIS,
S1.000M94
Washington Gas SIS, sl,OOOn7sA,
$1,000 m7Shi S500G7S.
Capital Traction, 10@S6, 100 SO, So
SO, 209s6, 5MS6
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
every day. while the Easter de-
mand for silk blouses is good.
MOTOR ORDERS INCREASE

President II. NJ. Leland has al
nounced to ockholGers of the Lin
COIN Motor Car Co. that orders for
February exceeded those for January
by $50 per cent
March orders arc steadily increae-
ing. 100000 worth being received in
one day this week. The company has
hardly any unsoli s.utos on hand
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
SILK BUSINESS EXCELLENT.

An official of a large silk house
says retail business is excellent, with
a scarcity noted in the better grades
OF goods. Sales in the last two months
have shown a substantial increase
over year ago.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
J0bIeSS Shun Free Baths.

LONDON, March 12.-When the
local unemployed of Edmonton
seized the town hall they demanded
free baths. The council agreed, but
report presented to the council
shows that although provision was
made at the public baths for 1910
unemployed, with soap and towel
free, only 100 had awaited themselves
of the concession.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
DRY GOODS BETTER.

The John v. Farwell Company Of
Chicago report that business during
the past three weeks has been better
than last year. Collections are salts
factory and buyers have been in the
market in increasing numbers. There
is very healthy demand for staple
floor coverings and for white goods.
Organizes occupy a stronger position
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
ATLANTIC GULF MYsTIrIEs.

Strength In the Atlantic Gulf q
West Indies common caused comment
among traders. Although the pre-
ferrcd was very weak. the common
maintained its position in the face OF
a declining market
There is some doubt a. 10 whether
the preferred dividend will be paid.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
FOREIGN EXCHANGE.

NEW YORK, March 12.-The for
eign exchange market opened steady
today with demand sterling per
cent lower, at $3.9OA. Franc cables
yielding 1 centime, to 7.16 for cables
and 7.15 for checks.
other quotations are: Lire cables,
$3.50, checks, 3.6S; Belgian cables, 7,47,
checks, 7.46. Guilder cables, 34.4O,
checks, 1880; Swedish kronen cables,
22.55, checks, %. so; marks, 1.59.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
SOLAR REFINING REPORTS II
CREASE IN EARNINGS.

The Solar Refining Company re-
ports net earnings for 1920 of 1888
EOS. equal to SS4.a1 a share on it,
capital stock, compared with Sl,651.-
S92, or $S2.5s a share in 1919,
Profit and loss surplus as of De.
cember 81 was s5,112197. agains,
$4,413,991 at the close of 1919.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
LIGHT AND POWER BONDS.

Blyth. Witter e. Co, of New York.
and associates have purchased 81
00O.00 bonds from the San Joaquin
Light and Power Corporation of Cali
fornia. consisting OF S5,000,00O in
thirty-yeaH unifying and refunding
mortgage rs. and $1,000, 900 in one to
five-year serial bonds.
While no definite plans have as yet
been made for the public offering of
these issues it is probable that they
will be offered to the public within
the next few days.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
TEXAS 4 PACIFIC OIL WELL.

1t Is stated on official authority
that the Texas & Pacific Railroad is
drilling a promising oil we'll on its
largest tract of land, Ave miles east
OF Ranger The well is down $500
feet and the development of gas
promises well for the district.
This is the first strike made by the
road. Development work is proceed
ing, and further details are looked
for at the annual meeting.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
RECORD MACHINERY EXPORTS

Construction machinery exportct
In 1920 totalled 33,474,973, as agains
go, 'oS,O39 for 1919. The exportatio-
last year more than doubled that O.
1913. which was sI5551.0S6 These
ngures include machinery for OF
wells, mining and pump machinery.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
BANK OF ENGLAND RATE.

London advices received by brok-
ers state that the selling rate on
Treasury bills has been reduced from
6b to 8 per cent.
This encourages the belief that the
Bank OF England per cent rate may
be reduced in the near future.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
NEW YORK CLEARING HOUSE,

NEW YORK, March 12.-Clearing
house statement: Exchanges, s915,-
444669. Balances, $50, O65.62O Fed
eral Reserve bank credit balance.
sos 90i,iS4
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
LIBERTY BONDS

NEW YORK. March 1c--Closing
liberty bond quotations: ass 5000:
second IS. $3.50 frst as. $3.50
second a., =. $685.; third as. soo.3i
fourth Ks $3.50: victory sN's
S9,.22: victory AS 1874
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
Wall Street GOSSIP

but it is generally accepted that the
common payment will be passed. In
view of the company's condition and
the continued delay in its financing.
1t is difficult to understand why the
common should sell higher than the
preferred.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
PUBLIC UTILITY IMPROVEMENT

The Trumbull Public Service Com.
pany OF Warren. Ohio, reports gross
earnings for 1920 of $1s6s,200, an in
crease of "a per cent and net income
OF $S11.233, gain OF Az per cent
over 1919.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
BABY BONDS.

BABY BONDS.
8. H. G.-Please give me a list Of
eiGht bonds In SEQ dessninatios
! have about $500 to invest and
want to spread the money. over as
big a surface as possible and at
the same time obtain good income
yield. should like bonds that
mature within a few years.
Asswer-We suggest the following
800 bonds: Anaconda Copper rs. 1879,
10 per cent, Armour 4 Co. rs, 1880,
~ per eenty Central Leather SIS, 1875.
81 per cent, n. J. Helms 10. rs, 1890.
II per cent, kenneeott Copper -,
1880. Sd per cent, South " estern Bell
Telephone rs, 1925. ..6 per cent,
Southern OIL Refining SIS, 1928. 8 Per
cent, New York Central SIS, 1895, 60
PER cent, and American Telephone SIS,
1875, IL per cent:
IS SAFE DEPOSIT VAULT SAFE.
o. Mon February / asked you
to advise me how to invest $4,000.
week later I bought the bonds YOU
suggested. twelve different issues.
Now / don't know what to do with
them, but suppose l have to rent
a safe deposit box.
But what / should like to And
out is who is responsible for the
safety OF bonds locked up in one
of these socalled safe deposit
boxes? i have asked a number of
. persons this question. Some say
the safe deposit company is re-
sponsible, and others say not.
Answer-The danger of loss OF SC
curities locked up in a safe deposit
vault is so very remote that it is not
worth considering.
We have never heard of case OF
theft from one OF these vaults. Should
case of robbery occur it would be :,
matter for the courts 10 determine the
responsibility.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
A NEW
ENDORSEMENT

The Senate Committee on Re-
construction recommends new
legislation that q portion of
the deposits in the savings dc.
partments Of national banks
may be invested in long term
securities and MORTGAGES .in
order to give greater security
to the savings and to assist In
nrevtdinE homes for the
thrifty"
Our First MORTGAGE Notes
on improved Washington real
estate, are available in small
and large denominations.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
Investors Service

stocks bonds II ton from
entirely
a All
De made by
ms c.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
Personal MENTION.

Francis NJ. Savage. president of the
Northwest Savings Bank, is at the
Marlborough lenheim, Atlantic City,
for a weeks rest.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
DEPARTMENTAL BANK OPENING.

The Departmental Bank. l3ll Penn
sylvania avenue Northwest, VIII hold
its official opening Monday.
There will be reception and
'housewarming" from $50 p. m. TO
10 p. m.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
CHICAGO GRAIN MARKET,
+ urnisned BY Thomson & McKin

tuInsned by Thomson Mckinnon-
1915 Prev.
Opening. High. Low. Pm. Close.
Wheat
May 1891 154k 1924 1874 1897
March 1924 1921 16l u 1924 1924
Corn
May 69h 20 69Is 69S 69A
July n& 72k IN ~ TN
Oats
May 43k AN ASH 43M 4sS
July AN 44s AM AM 44M
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12

At present level IL yields about ~
per cent. which very high yield rs
very good evidence Of its speed
lative quality.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12

s347,o32; profit and loss surplus,
SlO19.5S9.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
FOREIGN BONDS.
Furnished by w. b. Hibbs & Co.

Furnished by W. B. Hibbs & Co.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-03-12
NEW YORK COTTON MARKET
CHICAGO GRAIN MARKET.

Furnished by Thomson & AcKinnon
Open High. Low. 1915 Prev
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17

FROM The Tribune's Washington Buredx
WASHINGTON, Aug. 16.-The Presi-
eert Is to take part in his first golf
tournament on August 25, when he
engages in the contest TO be held by
the Washington newspaper correspond
erts. The players are restricted to
active newspaper men, but the Presi-
dent considers himself sufficiently ac-
tive to warrant his narticip patton.
II came about to-day when some of
the newspaper men arranging the
match asked him if he would present
nc cup to the winner. "How much is
the entrance fee?" asked the Executive
H. was informed there was no entrance
lee, as the tournament was for news
paper mer. "Weu, III enter the tour
namenr and very likely award myself
the trophy" he said.
Observing that the President felt SO
confident Ct defeating the newspaper
men, the members of the tournament
comm tee added Tat an astute handi-
capper will arrange it SO that the pros
poets q Mr.. Harding winning will not
De quite so bright
Nothing daunted, the President re-
irerated his intention of being on hand
the morning the tournament starts.
When it became known among the
fifty newspaper men who are to COM
pete that the most famous newspaper
man Of them all was to match puts
With them there was considerable an
Fyehension. A number who have been
Expecting little competition hied to
&c links at once for practice.