davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-10-28
WHEAT DIPS AS RAIL
STRIKE LOOKS NEAR
Heavy Selling Continues In
til Gong Closes the Chi
cago Pit.

CHICAGO, Oct 27.--Prcdictions that the
railroad strike would be averted did
much to rally the wheat market to-day.
but the outlook later was uncertain. and
prices closed unsettled. ssc. to / &c. net
lower. with December s1.061s and May
sl.10M to s1.10Ts. Corn lost u to sc.
and oats Is to &c. In provisions, the
finish was unchanged TO &C. higher.
At the opening wheat prices showed
downward tendency. owing TO general
commission house selling, based largely
ON hedging pressure from the North
west including Winnipeg. Assertions
that Germany would be out of the mar
ket until spring counted, too, as a de-
pressing factor. and so likewise did a
bearish estimate OF the Argentine crop.
On the resulting decline. however the
market apparently became oversold and
made sudden upturn when gossip made
the strike settlement outlook seem more
hopeful. Temporary fear that a large
amount of grain would be damaged in
an elevator fire reported at Montreal had
also transient bullish effect. Then
calnc word that no definite results had
been achieved in the meeting OF rail-
road employees. and that the Montreal
fire was of a minor character. Heavy
selling ensued and was still in progress
when the gong cleared the pit.
Corn and oats held within narrow
limits, and merely followed the changes
in wheat.
Higher quotations on hogs steadled
provisions. but owirg to the strike prob
lem the amount OF business done was
small.
The New York herald., 1921-10-28
OIL OUTPUT FALLS OFF.
September Production 1,c10,633
BbIs., Against 1,321,4S4 In August

OIL production In the United States
during September averaged LII, ,633 bar
rolls daily in contrast to 1,3Z1. .fSf in Au-
gust. drop of 105.SSi In the averags
daily production, according to the
United States Geological Survey. The
total production in September reached
8S.469.0o0, In contrast to 1896. 900 in Au-
gust and 37.ss9,oOo in September. 1920.
California production last month was
c63.l33 daily, decline of 60.2S6 In con-
trast TO that of August. A strike OF
California field workers has been re-
sponsible for the continuous falling off
in production in that State. The yield
of the Midcontinent field was 6S7, 400
daily. In contrast to ,261 In August.
Total stocks OF domestic crude at the
close of September were 163,942,0O0 in
contrast to l62.s03,0o0 at the end of Au-
gust Mexican crude stocks In this
country at the end of September were
7,zB.o00 against 5.2s1. 600 at the end of
August. the combined stocks amounting
20 III ,2e7 900 at the end OF laet month.
in contrast 10 1853. 10000 at the end of
August. Imports OF Mexican crude in
September totalled 9.o95.447. in contrast
to 3,352, us In August.
The New York herald., 1921-10-28
COTTON Is HIGHER
AFTER HESITATION
Bullish Sentiment Prompted
by More Optimistic View Of
Strike Situation.

The temper OF yesterdays two sided
was decidedly more optimistic and prices
advanced moderately after uncertainty
at the opening. Bullish sentiment was
largely due to feeling that the rail
strike, situation was slowly being set
tied In manner agreeable to both sides.
reports OF an improved spot demand In
some sections of the South and the bet
terment In the stock market. Futures
prices showed a gain of 3S to as prints
over Wednesdays final bids at the final
gong.
Buying was we'll divided among many
interests. II was not heavy. Some sup
port for Japanese account was no,ice-
able at the opening. Selling came largely
from local and outside longs. Liverpool
and the South.
Liverpool prices were about to 10
penny points worse than expected, and
at the time of the local call were Fl
to % lower Spot business abroad con-
tinues TO show a falling off.
The official map showed that the
tropical storm had passed over Florida
to the sea without doing much damage
to the cotton belt The map was partly
cloudy and unsettled to the east of the
Mississippi. Temperatures at 8 A. M.
ranged from SO to "A degrees.
Much has been said over the last
ginning report: more remains to be dis
coversd yet. but the feeling appears to
be Spreading among the trade that the
yield Of about 100000 bales indicated.
combined with the l.750.000 bales III
farmers hands at the end of last season.
would Just about furnish enough Of
supply to meet actual mill needs for
the twelve months OF the season without
allowance for restoration Of normal
consumption.
Range Of prices--
The New York herald., 1921-10-28
U. s. war issues Go Higher.

In yesterdays bond market the re-
sponsc to the news that the new Gov
ernment financing was being done on
4A and ~ per cent. basis was not
as vigorous as those pledged TO the
constructive side OF the market would
like to have seen. Nevertheless. that
latest development was considered an
important indication that a still easier
money market might be expected soon.
There were predictions of a further re-
duction In the discount rate. All United
State Government bonds were stronger.
every Liberty and Victory issue clos
ing higher. Victory GAS established a
new high record for tho year at 1910
Outstanding short term United States
Treasury certificates made q slight ad-
vance. Certain foreign issues were ac-
tive and strong and new high records
were made IN that group. Queensland
Is touched "A new high mark at 1914.
as did Dominion of Canada 5iTs OF 1879.
Most foreign municipals were higher.
The feature Of the industrial list was
the advance in Atlantic Fruit Is, which
sold up from 36 to 40. an advance OF
about 10 points from their low price
touched a little more than month ago.
The New York herald., 1921-10-28
S2,OOO,OOO,OOO BIDS
FOR NEW U. S. ISSUE
Padding of subscriptions by
Many to Obtain Part of
S200,000,000 Issue.

Recorded subscriptions TO the new
offering of $500. 100000 In the aggre-
gate of six months 4 Il per cent. certifi-
Gates of Indebtedness and ~ per cent.
101a month certificates were estimated
at the close of business yesterday TO be
the largest for any issue thus far re-
ported. No figures or intimation could
be obtained from the Federal Reserve
Bank, but aggregate subscriptions for
the country in the neighborhood Of s2,-
0O0. 100000 with an allotment of 10 per
cent. on subscriptions would cause no
surprise.
For the first time since the issuance
OF blocks of certificates a proposed issue
has sold on when issued" basis, and
the price of 100 lie was reported
yesterday. This is premium of Lie
of per cent. on an issue which will not
be made until next Tuesday. as the new
certificates are to be dated November 1.
The experience in connection with pre-
vious issues of heavy over subscription
led to padding of subscriptions this
time. An instance was heard of a
banker who really wanted about $780,
900 of the certificates. but who entered
a subscription for s1.00o,00o.
The New York herald., 1921-10-28
RAILROAD ECONOMIES
ARE SHOWN IN REPORTS
Net Operating. Income Larger
for September.

Railroad reports covering operations
for September continue TO show in most
cases net operating income equal or
slightly better than for September a
year ago. With few exceptions the re-
ports reveal a shrinkage in gross
operating receipts and indicate that net
earnings were held up only through sub
stantial cuts In expenditures for MAIN
tenance OF way and equipment and in
charges for conducting transportation.
The New York Central reported net
operating income of $5.322,916 saved out
of gross operating revenues Of $28.565.-
729 compared with $4.727,52S net and
S38, 8,30S.775 gross receipts for September.
1920. Its nine months report showed
gross revenues Of $240,023,5S5 against
1857. S09.6S9. while net earnings amount
ed to $32.484.661 contrasted with q def
icit of S4.7GS,761 for the corresponding
nine months Of the preceding year.
Atchison. Topeka and Santa Fe re-
ported September net operating income
Of $3.G75.365 against $3,9S6,648 for the
same month Of 1920. Gross revenues
totalled S20.560.349, decrease Of
s1.5S0.97S from the preceding Sep
tember. In the first nine months of the
year Atchinson's net operating income
OF $30.613,143 represented an increase
of $3,930.4S6. although gross receipts de-
clined S12,410,472 from the St82,390.412
reported for the corresponding period
of 1920.
Other Class ] carriers whose Sep
tcmber reports were made public yes
terday included
A ~,
The New York herald., 1921-10-28
Average Bond Prices
October 81, 1891.
BOND NEWS AND NOTES.
Loan to China Discussed.

The American representatives OF the
consortium for loans to China held an
other meeting yesterday to discuss the
project of lending S15,000,000 to s20,-
100000 to the Chinese Government to
meet its maturities and needs between
the end OF this month and the end OF
this year. Although nothing definite de-
veloped 1t was intimated that formal
announcement regarding the project
would be made on Monday. The ques-
tions asked by cable of Frederick w.
Stevens. who is in Peking as the Ameri-
can official for the consortium, were
answered satisfactorily to the American
members of the consortium. There re-
mains consultation by cablegram with
the foreign members of the group and
details OF the proposed financing should
be cleared up by Monday. Quick action
Is required because of Tuesdays ma
turity of a $5.5oO.o00 loan to the Chi
nese Government, negotiated through the
Continental and Commercial National
Bank Of Chicago.
The New York herald., 1921-10-28
CHICAGO PRICES.

Some Of the buying Of 100000 bushels
OF cash wheat yesterday was believed TO
be in anticipation of the Greek order for
1.250,000 bushels OF Manitobas later in
the month. The United Kingdom was
purchaser OF Canadian wheat, which
indicated that the much discussed dis
tressed wheat had been about all alb
sorbed. Cables from Germany late in
contradlcted those received earlier, which
declared that that country would not be
In the market until spring. Export in
terests claimed to have an inquiry from
Italy for 10000 tons OF oats. but no
such business has been done.
NEW YORK PRICES.
WHEAT-In the local cash market No. .
red and No. hard, $1.14K: No. l Mani
toba. S1.l5h; No. mixed durum. S1.02%
CORN-In the local cash market No Q yell
low, G4c.: No. 9 white, 65c.; No. mixed.
63lkc. q. |. Z. N. Y. lake and rail shipment.
OATS-In the local cash market No. 3
white. 43,sc.; No. 4 white, ttMc.; fancy
47@50c. all elevator.
RYE-Market easier; No. Western, S9isc.
Z. o. b. and sSc. C. I. I. N. Y. export
BARLEY-Market BARLEYMkt steady: feeding. 5a157c.;
Observation-Disclosures easy: sound mill
ing, $i.659l.I0 a 100 lbs.
HAY-Market firm: No. I, $30032: No. 2.
s2s9so; o;No. 3. ,s2692s shipping. s24@2s
sssasi; shipping. s2a@a4; no grade. sis@So:
fancy, clover. mixed, 2s@29; No. !, clover
mixed. $26927: No. 2. $22924: alfalfa. s1s
STRAw-Market steady. No. / rye, sa2@
Sf66117
The New York herald., 1921-10-28
STATISTICS.
TO CONSIDER BIDS FOR
L. d w. COAL co. STOCK
Central N. J. Directors Look
Into Offers Tuesday.

Bids received by the Central Railroad
OF New Jersey for its $S.4s9.400 Of the
Lehigh and Wilkesbarre Coal Com
pany's stock will be considered at a
meeting OF the directors Of the road
on Tuesday afternoon. The committee
appointed to receive the bids. headed
by Robert w. de Forest. declined to
make any statement as to the number
or character of the bids received. 1t Is
understood, however that several pro-
posals by banking syndicates were sub
mitted yesterday. the last day on which
such offers :ould be received.
Under the Federal Court order IN the
Reading dissolution case the Jersey
Central was ordered to dispose of its
Lel1igh- -Wilkosbarre holdings before De-
cember II. and in case the stock should
not be sold by that date TO give It
into the custody Of the Central Union
Trust Company.
The New York herald., 1921-10-28
SUGAR.

The Cuban committee reported yes-
terday more further business In Cuban
raw sugar. including about 10000 tons
for Europe. at 14s. Cd. c. l. T. United
Kingdom. equal to fractionally below
2rzc. . and Z. New York 10000 bags OF
Cuban sugar. prompt shipment, at 2i5c.
G. and T. 10 O. New York refincr. and co.
GOO bags Cubas, prompt shipment. at that
price. TO a. Savannah refining interest.
Tefiners are anxious buyers of prompt
eugars. but there were few 10 be had
Refined sugar was unchanged. a fair
demand being roorted for prompt de-
livery.
Tho range OF prices IN yesterdays
rusar futures market was az follows:
Omen TTirh low C-fouc Pr CI
The New York herald., 1921-10-28
BIDS for states and Municipals.

Sealed bids for a considerable volume
of new State and municipal securities
are to be opened as follows: To-day.
sl2, ,65s,SOO of Philadelphia's 81 per cent.
bonds and $l,4S6000 OF the and ~ per
cent. one to twenty year serial bonds OF
the city OF Worcester. Mass. which on
account of the credit standing of the
city should result in new top for bids;
on Monday, S2.000O 900 of Cook County
Road As: on Tuesday, 81, 100000 of 5is or
5A per cent. twenty years highway I'M
provement bonds of the State OF Michi-
gan in the near future. sS.000,o00 OF the
city of Chicago's bonds and $12.000,Oo0 of
the Commonwealth OF Pennsylvania
bonds.
The New York herald., 1921-10-28
LEGAL NOTICES.
No. 1901.
TREASURY DEPARTMENT.
OFFICE OF COMPTROLLER OF THE
CVfRRENCy


Washington, u. c.. September "a. 1921.
WHEREAS, by satisfactory evidence pre-
sented TO the undersigned. II has been niads
y ..fRE fRf: lMETRneopoIlrAN NATIONAL BANK
OF THE CITY OF NEW YORK; IN tho
CITY OF NEW YORK In the County OF
NEW YORK and State OF NEW YORK has
complied with all the provisions. OF the
Statutes OF tho United States, required to
be complied with before an association shall
be authorized to commence the business Of
NOW THEREFORE, I. d. r. cRIssrNorr.
Comptroller OF the Currency, do hereby
certify that THE METROPOLITAN ma
TTONAL BANK OF THE CITY OF NEW
YORK" IN the CITY Of NEW YORK IN ths
County Of NEW YORK and State OF NIlY
YORK is authorized 20 commence tins puet-
ness OF Banking as provided In Section FIFTY
one hundred and sixty nine OF the Revised
Statutes OF the United Statca.
CONVERSION ~ metropolitan Bank'
with branches IN the Borough of Man
haitian, County and State OF New York.
and branch In tho Borough OF Brooklyn,
County OF Kings and ,.,e OF New York.
IN TESTIMONY WHEREOF witness my
hand and seal OF office this TWENTY.
FOURTH day OF SEPTEMBER. 1871.
ID. r. CRISSING Ell.
Comptroller OF the Currency.
Currency bureau, Seal OF the Comp
troller OF the Currency. Treasury
DEPARTMENT.
The New York herald., 1921-10-28
Range of prices
NEW ORLEANS.

NEW ORLEANS.
NEW ORLEANS, Oct Election closed
very steady to-day. at net advances OF 40 to
43 points. Closing bid: December, 1850:
January. 1S.64c. March. 1886: May.
17.9dc.; July. 1T.46c. Spot quiet; midding,
1S.15c.
srOTs.
Tho local spot cotton market was quiet and
40 points higher. 19.60c. for middling; sales
nil.
Southern spot markets: Galveston steady.
30 points higher. 1886: sales, 3l4 bales.
New Orleans quiet. unchanged, 1880; sales.
456 bales. Mobile steady, % points higher.
II. $780,: sales. 10 bales. Savannah quiet,
unchanged. 19c.; sales nil. Augusta steady.
80 points higher. 1885,. sales. "a bales.
Memphis steady. unchanged 1850: sales.
2 $50 bales. Houston steady. 40 points higher.
19.50c.: sales. 1870 bales. Little Rock
steady. unchanged. 19.50c.: sales. 750 bales.
Dallas steady. 25 points higher. 19.05c.; sales.
1927 bales. Montgomery firm. 70 points
higher, at 1s13c.: sales. 49 bales. Fort
Worth steady. IS points higher. 19c; sales.
. $40 bales.
LIVERPOOL.
In spot cotton fair business doing. so points
decline; niddling, 12.15d. Sales, 1000:
American, 1000 bales. Imports. 600: no
American. Futures opened quiet at "a to II
points decline; closed steady, points higher
to lower. October, 12.5fd.; December.
12.1sd.: January, 96d. March. l1.Ild.;
May. 11.53d.; July. 11.3od. ManchesterN--
Yarns dull and easier; cloth offers too low.
STATISTICS.
The New York herald., 1921-10-28
Big Sales of Farm Loan Bonds.

Up to the close OF Wednesdays busi-
ness s45,400.000 of the original issus of
$50. 100000 Of Federal Land Bank bonds
had been sold. but bankers estimated
that by the close of yesterdays business
at least 600 had been distributed.
Yesterdays orders were the largest and
the initial day of their offering, and
more than one single order for si,0o0000
was filled. In fact. those bonds. at )
per cent. arc declared to be tho cheap
est Issue in the market.
The New York herald., 1921-10-28
Nem York City Bonds.

In the event that the authorities OF
New York city decide right after cleo
ton TO put out a S0.ooo.000 or larger
long term bond issue. bankers said yes
terday that the cost 10 the city would
be no more than o 5 per cent. basis.
Their belief Is that a post-election bond
offering by The city Is inevitable.
The New York herald., 1921-10-28
California Results.

The results OF the sealed bid opening
for s. 900 900 of California's 5a4 per cent.
eighteen and three-quarter year average
highway bonds we're not known at the
clos. of yesterdays business. the tram
saction occurring at p. NJ. (New York
time). Further information will be made
known to-day.
The New York herald., 1921-10-28
To the Stockholders Q, Mu,SALBRo STEAM

To the Stockholders OF MCyNALBRO STEAM
SHIP CORPORATION:
Notice is hereby given pursuant TO n Res
olution OF tho Board OF Directors adopted
October 9th, 1921. that a meeting OF ths
Stockholders OF MUNALBRO STEAMSHIP
CORPORATION will be held at the office OF
the Corporation, 81 Wall Street, Borough of
day OF November. 1921. at II 80 o'clock in
the forenoon. for tho purpose OF voting upon
proposition that the said corporation be
forthwith dissolved, and the transaction OF
such other business as may properly come
before the meeting.
Dated: October 2Sth. 1921.
J. w. REYNOLDS. Secretary.
The New York herald., 1921-10-28
~. 500. 900 Nova scotia Offering.

An Issue OF sl.soo.o0O of the Province
of Nova scotia's fifteen year 6 per cent.
non-calIable gold bonds Is being Of
fered for subscription at 100 and ac-
crued interest by q syndicate composed
Of Blair Il Co., Inc: Kissel. Kinnlcutt
& Co.. william Il. Compton Company
md Stacy & Braun.
The New York herald., 1921-10-28
DIVIDENDS AND INTEREST.
LIMA LOCOMOTIVE WORKS. INCOR-
PORATED.
Ao.I

II Fast 42nd street,
New York City.
September 20. 1921
The Board Of Directors has this day de-
rlared a dividend OF seven (79) per cent
upon the Common Stock OF the Company.
payable IN instalments, rs follows:
1kss December !, 1921. TO stockholders OK
record at the close OF business No
vember IS. 1921.
ix% March /, io22, to stockholders OF
record at the closo OF business Febru-
ary 10. 1922.
i&% June 1st. 1922. to stockholders OF rec
ord at the close OF business May Is.
1927.
ixs septernbcr 4. 1922, TO stockholders OF
record at the close Of business August
IS, 1922, l.. A. LARSEN,
Vice President & Treasurer.
The New York herald., 1921-10-28
Norfolk Syndicate CLOSED.

Estabrook & Co.. managers OF a synd'-
cate offering n recent issue OF s1.547 800
Of 81 per cent. bonds OF the city of
Norfolk, Va. due In October. 1851. an
nounce that the syndicate has been
closed.
The New York herald., 1921-10-28
NET PROFIT Is s41.4so.

The report of the Tennessee Copper
and Chemical Corporation for the FIRST
eight months Of 1921 shows a net profit
OF s4i.4Se after charges and inventory
adjustments. The company's operating
The New York herald., 1921-10-28
Manitoba Bonds Purchased.

The Province Of Manitoba sold yes
terday to Dillon. Read G. Co. s2.725,000
Of its twenty-five year yer cent bonds,
which. It is reported, are being offered
at s9H to yield slightly more than .
per cent.
The New York herald., 1921-10-28
OILS.

Refined petroleum was unchanged yes
terday. Yesterdays prices OF oils in
Now York follows: Standard white,
New York. export. barrels, s14; do,
bulk. 81; do. cases. 1880; water white.
New York, barrels. s15 do. bulk. ss
do, cases. $3.50. Motor gasolene,
garages, 25c.. steel barrels. Linseed
Ou-Strictly pure. gallons Of IN lbs. In
barrels. 73c. Calcutta oil. s3c.
orL CrTY, Oct. 27.---Credit balances,
$3.50; runs. 52.2se: average. 4s.150
shipments. 49,442; average. 400so.
The New York herald., 1921-10-28
ErEcr1cNs AND Mxrrrycs.
THE CHASE NATIONAL. NAME
OF THE CITY OF NEW YORK.
New York. September ssti

New York. eeptsnbsr seth. 1Sms
TO THE sToCKHoLDRRs,
Notice Il hereby given that Special 2oQn
ing of the Stockholders Of the Bank NJ u
held es Its Bauking Rooms a. 81 Broadway
state oe New York. on the lst day Of Novsu3
ber. 1891. at te O'Clock noon. for the purs
pose OF ratifytng and confirming the tsrna
the board Of directors Of The Mstropoiital
National BANK of the City Of New York an1
by majority Of the board Of directorI
banking aoscciatioss into one associatio9
under the charter Of The Chase National
Bank OF the City Of New York; and for the
transaction OF such other business a. mai
properly come before the meeting.
BY Order OF the Beard Of DIRECTORS.
W. p. HOLLY. c.Sa1sas
The New York herald., 1921-10-28
TTyr PrTTspURGH q WEST VIRGINIA
RAILWAY COMPANY.
nprnIrp


Tho Board OF Directors has declared div'.
dend OF one end one-half th) per cent. on
Tho Preferred Stock OF the Company for the
oue rter ended September go. 1921. payable
November 30. 1921, TO stockholders OF record
A. tho cisse OF business on November I. 1921.
+. H. HARVEY. Secretary.
Pittsburgh. October II. 1921.
The New York herald., 1921-10-28

income was ss.55S.eoi and its operating
expenses. s3.o2S,590. It's total income
was ss02.512. from which deductions for
interest, inventory adjustments. depre-
citation, &C. took $761,023. Its profit
and loss surplus on August 81 was
Si,142,659.
The New York herald., 1921-10-28
CHASE SECURITIES CORPORATION
New York. September ssth. leaf,

TO THE STOCKHOLDERS;
Notice Is hereby given that Special MssAs
ing OF the Stockholders Of Chase Secdritssl
Corporation will be held ~ it's office q. 81
Broadway, Borough OF Manhattan. City u
New York. State OF New YORK. on the ls1
day OF November. 1921. a. two o'clock Ia
the afternoop. to consider ma vote upon pro.
posals to increase from 10000 to 200. .0Oe
the number Of shares, without nominal OF
par value, which the said Corporations may
Issue. and the amount of It's stated capital
under which such increase shall becoms ef.
fect!ve; the consideration for nad the terms
and conditions under which. II Authorized,
sued; and for the transaction OF such otneS
business as may properly come before the
meeting.
Ey Order Of the Board OF Directors.
y. n. TINKER. President
HALsTEAD c. FREEMAN. Secretary.
The New York herald., 1921-10-28
To the Stockholders Of MUNRO STEAM
SHIP CORPORATION.


Notice Is hereby given pursuant to Reso-
luton OF the Board of Directors adopted Oc-
tober 18th. 1921. that a meeting of the stock
holders Of MUNRO STEAMSHIP CORPO-
RATION will be held at the office of tho cor
porotion, 81 Wall Street. Borough of Man
haitian. City OF New York. on the 17th day
OF November, 1921. at AS o'clock In the
forenoon. for the purpose Of voting upon a
proposition that the said corporation be
forthwith dissolved. and tho transaction OF
such other business as may properly como
before tho meeting.
Dated: October 28th, 1921
J. w. REYNOLDS, Secretary.
The New York herald., 1921-10-28
UNITED ROYALTIES COMPANY

The 10Th regular $50 monthly dividend
and ard extra dividend OF 1ss has been
declared payable Nov. 81. 1921. to stock.
holders OF record Nov. s. 1921.
C.. A. ROGERS, Trustee.
The New York herald., 1921-10-28
rEssED STEEL CAR COMPANY

PREFERRED DIVIDEND NO. oi.
A quarterly dividend on One Dollar, Seven
ty. five Cents (Sf.15) per share will be paid
Sov,rnbcr goth, 1927. 10 Preferred Stock
ho'dere. Of record at the close Of business
November o, inai.
III. Il. swARTz, Treasurer.