davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-02-19

MISS MAY BASNERAAN.
' Of Glasgow, Scotland. who
has been honered BY King
George for her services ~ chief
operator Of the British army
telephone service during the
war.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-02-19
Saved My Life
With Eatonic

says Vot~ Oos80r woman
81 was nearly dead until I found
Eatonio and l can truly say u saved
my life. Il Ia the best stomach
medicine ever made" writes Mn.
Ella Smith.
Acid stomach causes awful misery
which Eatonio quickly gets nd OF
by taking up and carrying out the
aoidity and gases which prevent good
digestion. A tablet taken after meals
brings quick relief. Keeps the stom-
aoh healthy and helps 10 prevent the
many ills % liable 20 arise from az
cees acid. Don't Sdffer from stomach
niseries whom you can get big boz
Of Eatonio for . triHs with your
drueEist's guaraaAsA
The evening herald. (Klamath Falls, Or.) 1906-1942, 1921-11-01
OUR SEMI.ANNUAL
One Cent Sale

Briefly stated the plan Of the sale 10
this: We sell you an article at the regular
price and give you the privilege Of buy.
ing another one for ONE CENT. For IN.
stance you buy a jar of face cream for
so cenfs-you may haUe the second one
for ONE CENT. A high grade Wearevsr
Hot Water Bottle may be had for $500
One cent more ,UiN buy another one.
The evening herald. (Klamath Falls, Or.) 1906-1942, 1921-11-01
Extra Specials
For Wednesday

Csc Japanese incense. ................ z for 26c
Your choice of odors
Bath Caps, values up to $1.5O.
Your choice -............................ SIC
Hair Nets 2 for Ice
Wests Beach and Motor; Bonnie B
Cainsborough
The New York herald., 1921-02-22
ACCOUNTING SOUGHT
FROM POSTAL BY u. S.
Equity Suit to Determine Reu-
enue Due.

The United States Government
through Earl 3. Barnes. Assistant United
States Attorney, began yesterday an
equity suit in the United States District
Court to obain an accounting from the
Postal Telegraph Gable Company for the
moneys taken in by that company while
acting as agent for the Government from
July 81, 1918, to July 81, 1919. The
Government took over the Postal sys-
TEN at midnight July 81, 1918, pursuant
to an act of Congress directing that the
supervision should be exercised by the
Postmaster General. All the money
taken in by the company was for the ac-
count of the Government. this arrange
ment to continue until the lines were
returned.
IN November, 1919. four months after
the system had been returned TO its
owners. the Postal company asked
$3,SO0.000 as the amount due the COM
pany for the year of Government
control. But the Postmaster-General
awarded only S1.6s0.OOO as direct com
Eensation. Other allowances were made
to subsidiaries to keep up depreciation
accounts and to meet other requirements.
The suit is for an accounting, to de-
termine what amount the Government
shall receive. No amount is specified in
the complaint.
The New York herald., 1921-02-22
COTTON MARKET
HAS DULL SESSION
Bear Selling Follows Early
Fairly Firm Tndertone and
Most Gains Lost.

The cotton market was steady and
little changed yesterday and closed with
8 points decline to 4 points net advance.
The market had fairly firm undertone
at one time early in the session. but
the bulge attracted selling from local
bear interests and gains were mostly lost.
Much OF yesterdays business represent
ed evening up efforts. Switching of
March into later options was particular
ly heavy at times. The March situation
is arousing considerable interest. To-
morrow will be first notice day. and
estimates as to the number to be issued
vary widely. Recent arrivals here have
been heavy. yesterdays total being
1851 bales. of which 10.577 came from
New Orleans. Some in the trade say
that March liquidation has been so
heavy of late that deliveries can hardly
be heavy.
Except for March, which was off s
points. the market opened unchanged TO
22 points net higher. Most options
| scored a further gain after the call, and
before the first hour had progressed far
the list was up approximately 15 to rs
points. When that level was reached
pressure increased and prices slipped
back to about the level of Saturdays
final bids. Southern and spot interests
were among the heaviest sellers, while
support came mostly from shorts, al
though Liverpool brokers took little
cotton at times
Reports said that freight rates on
cotton from New York to Liverpool had
been reduced to S5 cents a 100 pounds
for high density bales and to 60 cents
for standard. Up to the last half hour
the market fluctuated idly and showed
few points net gain. Commitments of
any size. were limited, and business gen.
orally was without snap. Dispatches
from the South emphasized the unusu-
ally small sales of fertilizers for new
crop preparation. Spot demand shows
no Improvement Near the finish con-
tracts were in greater supply and some
options made new lows for the day. Lo-
cal spot was unchanged at 1920 cents.
Range OF prices:
The New York herald., 1921-02-22
REPORT OF FRENCH
BANK ENCOURAGING
National Institutions Show
ing Reflects Better Interior
i. and Exterior Relations.

Special CdbIe to THE NEW YoRK HERALD.
Copyright, 1921, by THD NEW YORK HERALD.
New York Herald Bureau,
Paris, Feb. 21.
Interest in money circles here GEN.
tired last week, first. in the Bank of
Frances quarterly report, showing con-
siderable Improvement in interior and
exterior relations. and. second, in the un-
orecedented speed with which the public
francs Credit Foncier 61a per cent. lot
terry issue. The national banks gold
deposits increased more than 100000
600 francs, with a decrease of only
1900, 900 francs silver, while. a diminu-
Ion OF l99, 900, 900 francs in paper money
seemed to encourage fnanciers, whose
thesis is that Frances financial restora-
reduced steadily.
Discount rates in most banks here
ranged from 5A to 5h per cent, but
money generally was tight. awaiting the
decisions by the allied Premiers who are
meeting In London and discussing ques-
tons which are vital to Frances eco
nomic rehabilitation.
The Credit Foncier's subscriptions 10
its new Issue opened on February 10
and the issue was oversubscribed before
noon on February II. This is generally
taken as O valuable hint to the French
Government in connection with its next
national loan. which, 1t is held should
be based on the lottery idea. the Credit
Foncier having shown that the pubIic's
stockings empty readily when a sub
come wealthy twice a year.
The city Of Rheims has decided TO
accept the scheme proposed by Louis
Locheur Minister of the Liberated Re
gions, for 500 900 900 franc loan issue,
to be subscribed for chiefly in France.
although considerable help is expected
from England. This loan is to be de-
posted in the Bank of France and used
solely for reconstruction work the
Rheims Government to insure the inter-
est from the reparations payments as
they shall be received from Germany.
Details Of the new French loan which
is to be issued In London have not
been received by the public here, but
THE NEW YORK HERALD correspondent
is informed that it is TO be on the pound
sterling basis. instead of on one Of
francs.
Oils generally showed better resist
afce during the latter part Of last
week London passing several important
purchase orders TO Paris They were
filed promptly. with rising quotations.
Industrals. especially metals. reacted
to rumors of the collapse OF important
cable manufacturers IN the west OF
France, but confidence was expressed
that their difficulties were only tempo
rary and the market is expected to be
l,nnrn ncfivn next Week
The New York herald., 1921-02-22
HERRICK & BENNETT,
BROKERS, SUSPEND
Firm Attributes Difficulties to
Heavy Speculation by Ger
tain Employees.

Announcement Of the suspension Of
the firm of Herrick & Bennett, Sc
Broadway, was made from the rostrum
Of the New York Stock Exchange at
the opening of its business yesterday
morning. In formal statement, issued
Immediately after the suspension. the
firm attributed its difficulties TO heavy
speculation by certain of its employees
and the failure OF those employees to re-
quire favored customers to cover mar
gin calls.
Shortly after announcement of the
suspension on the Exchange an invol-
untary petition in bankruptcy was filed
in the United States District Court
against w Wilson HerTjck, Il. Eversley
Bennett, Frank l. Scheffey. ]. II. B.
Rebhann and Franklin w. Palmer. Jr.,
individually and doing business as The
firm of HerricS & Bennett. The petit
tioning creditors were William II. Reid.
81 East Eighty-third street, 1with a
claim of Sl24; Murry Olyphant of Engle-
wood, y. j., with a claim Of S35. and
Herbert d. Smith OF 81 Ninth street,
With a claim of 1926. 1t is set forth
by the petitioners that the firm has
liabilities of s1.300,00O. represented mostly
in bank loans, and assets of $l,7oO,OO9,
represented by stocks and bonds. The
petitioning creditors alleged that the
firm committed an act of bankruptcy
in making an assignment to Edward +.
Fitzgerald, a curb broker, Of 2cS6 Cres-
ton avenue, The Bronx.
Judge Martin 7. Manton appointed
John B. Johnston, 100 Broadway, and
Raymond H. Fiero, % Broad street, as
receivers for the firm under a joint bond
Of $4,000, and they took charge OF It's
business Immediately. They had no
comment to make last night about the
affairs of the firm, but said that they
were being put in shape and that a
statement would be issued soon Tor the
benefit of its creditors.
w. Wilson Herrick the floor member
of the firm. has been member of thO
New York Stock Exchange since Sep
tember %; 1910. The firm of Herrick X
Bennett was organized on May .. 1913.
In addition to it's main office, 66 Broad
way, il maintained branches in ol last
Forty-second street and in Poughkeep-
sic. The firm had been known rs heavy
dealers in Government and municipal
bonds.
Mr.. Herricll issued statement which
said that the speculations or the losses
which embarrassed the firm were not
known to any of its partners until last
Saturday. One of the spectators, ne
stated. had made a clean breast OF his
operations.
''The hasty and cursory examination
OF our books. which we were able TO
make over Sunday" he said, convinced
us that the best course to pursue, nav
ing in mind the interests Of all con-
cerned. was to make general assign
ment. Time. however, has not permitted
us to ascertain the exact condition of
our affairs. but we hope that our con-
d.tion is only temporary
The New York herald., 1921-02-22
MOST STEEL ORDERS
COMING FROM ROADS

A few steel orders are drifting into
the manufacturers, according TO reports,
those of railroads for rails and other
steel forming the bulk Of the new busi-
ness. The Virginia Railroad has or
dered 5000 tons OF steel rails from the
Carnegie Steel Company and the Hun
tington and Broad Top Mountain Rail-
road has ordered 500 tons Of steel rails
from the Midvale Steel and Ordnance
Company. The Erie Railroad Ia report
ed to be in the market for between
5000 and 8, 900 kegs of spikes.
In the structural steel department the
following are among the orders report
ed The Bethlehem Steel Bridge Cor
poration. no tons for q crane in the
New York Navy Yard; the Rochester
Bridge Company, 500 tons for the Mu-
tual Enamelware Company of Chatta-
nooga;. the Lackawanna Bridge Com
pany, LOO tons for NJ. w. kellogg &
Co. Of Jersey City. The New York Dock
Company has received bids on three car
floats which win take approximately
5000 tons Of structural steel.
The New York herald., 1921-02-22
TRADERS SEE ATTEMPT
TO DEPRESS STOCK

an insidious lsid attempt to sress the mar
ket price Of the shares of Atlantic, Gulf
and West Indies Steamship Com
pany. through the circulation of false
statements and rumors. resulted yester-
day in the inauguration of an investiga-
ton by authorities of the New York
Stock Exchange and by officials of the
corporation itself to trace down and II
possible to punish the men responsible.
Since the time IL sold on the Exchange
al $40 q share there has been q heavy
short interest In the stock, and profess
sional traders have sold il carly and late.
During the time OF its decline, which
eliminated in "A smash yesterday to the
low mark of s42.50 a shSre, all sorts of
rumors have daily cropped out about the
I corporation's financial affairs. To these
scant attention has been paid.
Late Sunday night an advertisement
was sent 10 the offices OF THE NEW YORK
HERALD by a well known advertising
/. agency. in which stockholders Of "Atlan-
tic Gulf were advised to pay no atten-
ton TO "insidious bea2 rumors," and
closed with the plea to "sit tight. hold
your stock and watch"
There is no Atlantic Gulf Company"
but In Wall Street parlance, the Atlantic.
Gulf and West Indies Company Is known
as atlantic Gulf" Investigation yes
terday showed that the advertisement
had been turned in by 'Aron Kossossky'
Of the Hudson Bay Fur COMPANY In
Sixth avenue. Mr. Kossossky could not
be located yesterday The Atlantic Gulf
and West Indies Steamship Compai y
made il clear that Il was not connected
with the advertisement.
After the close OF the market yester-
day an unidentified person called by
telephone the financial editor OF every
morning newspaper IN New York. The
bear clique is holding q meeting IN the
office Of Vause n Black, 15 Broad street.
to decide whether or not to cover tho
Atlantic Gulf stock OF which it Is
short said this voice.
The story was Investigated The firm
Of Nause n Black is engaged ia law
practice and has no connection with the
stock market Mr.. Vause authorized
/ the statement that no meeting Of any
sort was held In his office yesterday.
The New York herald., 1921-02-22
AGWI RECEIVERSHIP
RUMORS DENIED
A. B. Nicol Frankly Reviews
Company's Financing
Negotiations.

A. r. Nicol. president OF the Atlantic,
Gulf and West Indies Steamship Lines
and Joseph F. Guffey. president of its
subsidiary oil organization, the Atlantic
Gulf Oil Corporation. yesterday ISSUED
emphatic denials that they have any
information about minority stock
holders meeting, in Chicago, and its
reported movement for receivership
through a committee headed by one
Robert Deerfield
Both Mr.. Nicol and Mr.. Guffey denied
strenuously that there is any need for
such committee. and gave a review
OF the corporations affairs in which,
the current situation was outlined.
Mr.. NicoIs Statement.
After reading the press despatch from
Chicago. concerning the formation OF
the committee, Mr. Nicol authorized the
following statement:
THE management of tho Atlantic
Gulf and West Indies Steamship lines
has absolutely no information of any
such contemplated action. and until
reading the statement just published.
never heard of Robert Deerfield. Upon
being questioned regarding the proposed
financing, NlT. NlCOl stated lndL ucSOLld-
tions looking toward financing the COM
pletion of the company's programme in
connection with the construction OF its
tanker feet. and its Mexican oil prop
erty are proceeding favorably along lines
determined upon several weeks ago (; that
the company has every reason TO be-
iieve that these negotiations will be satis-
factorily concluded within a reasonable
period, and an announcement of the
plans made In due course. In the mean-
time Mr.. Nicol stated six of the COM
pany's tankers have already been put
in service. and all arc operating on a
most favorable basis, three being
chartered to other oil companies, and
three being used in the company's own
SERVICE"
AS regards the position Of the COM
pany's Mexican subsidiary, that is, the
Atlantic Gulf Corporation, Joseph f.
Guffey, president said:
''The Atlantic Gulf Oil Corporation has
doubled the capacity of the twenty-five
mile ten inch pipe line from Los Naran-
jos to the Tecomate terminal. This will
enable the company to handle $4,000
barrels Of oil daily, against 10000 here
tofore. Atlantic Gulf shipped 1,347,2 ,225
barrels of oil out of Mexico last month.
In addition it delivered approximately
1000 900 barrels in the field, making a
total of 2,437,225 barrels, or about $4,000
barrels daily. Production in the nine
months ended January 81 last was 9,311,-
443 barrels.
The New York herald., 1921-02-22
1920 A BAD YEAR FOR
COPPER COMPANIES
Several Report Losses in
Years Last Quarter.

With copper selling in the open mar
ket at 13 cents pound and with their
costs OF operation totalling consider
ably larger figure than 13 cents a pound
to get the metal out of the ground. most
copper companies report losses from
operations during the fourth quarter OF
1920.
The Utah Copper Company for the
quarter ended on December 81 reports
a total loss OF $5S9,515 after charging
out $535,270 net loss on marketable Sc
surities, which contrasts sharply with
total profits OF s502.953, or 81 cents q
share. in the preceding quarter and
S2,699,45 or S1.66 a share, in the quar-
ter ended on December 81, 1919. In
1920 the company's total profits were
$5,024,498. equivalent to S3.09 a share
$40 par value. earned on $l6,244,90O of
its capital stock, against SS,252.s96, or
S5.0S a share. in 1919
The Nevada Consolidated Copper Com
pany reports a loss for the three months
ended on December 81 of S280,499 after
depreciation, which contrasts with a loss
OF SS3,lS0 I'm the preceding quarter. and
net earnings of $6S7,29O, or "a cents a
share, in the corresponding 1919 quarter
It's net earnings for 1920 totalled S235.-
904. equivalent to IL cents a share
against $1.225,357, or 81 cents a share
in 1919.
The Ray Consolidated Copper Com
pany reports loss of S60731 for the
final 1920 quarter. In 1920 its total in
come was S911,675, equivalent to 81
cents share, against $1.10 a share ir
1919
The loss of the Butte and Superior Cop
Tper Company. after depreciation, was
$169.727. In 1920 that company showed
total profits of s20S,30o, equivalent tc
II cents a share against $f,054,961, OF
$3.63 share, in 1919.
The Utah Copper Company reports
that it's average cost of producing cop
per in 1920 was 17S09 cents pound.
The New York herald., 1921-02-22

"The company is drilling five wells in
ZacamiXtle pool. The first should be
completed about March 10, the second
about April Is. The company's titles to
these locations are free and clear. Oil
is being taken from the three wells in
the Los Naranjos pool. No salt water
has yet appeared in these wells.
Within q reasonable period salt
water will probably make its appear
ance in Atlantic Cuffs Los Naran-
jos wells. as it has I'm other Mexican
fields, but in the interim the Zaca-
nixtle wells should be producing and
their output fully compensate for what
ever production is lost at Los Naranjos.
Atlantic Gulf has acquired substantial
acreage in other sections of Mexico.
"The company is building an extern
sion of it's double ten inch pipe line
from Amatlan to Zacamixtle. about
eleven miles This should be completed
April /. The topping plant under corr
struction at Tecomate terminal VIII
have a capacity for handling 10000 bar
res daily. The first unit with a capac-
ity of 10000 barrels should be operating
April 1. ! am optimistic about the oil
outlook in Mexico. / believe that Iaca-
rnixtle will prove to be the largest field
Vet discovered in that country and viii
produce more oil than any other field
in Mexico. Our position in the field
assures us of our full share of this new
production"
The New York herald., 1921-02-22
MERGER PLANS DENIED
IN MAINE COURT SUIT

ALFRED, Me-. Feb 2i.--Denial OF any
intention 20 consolidate the constituent
corporations OF the Atlantic Gulf aud
West Indies steamship lines was made
IN a Joint answer filed with tho Clerk OF
Courts hero to-day by the defendants
named IN bill in equity brought By
Dr Michael Chirurg OF Boston In July.
1917
The suit WAS for an injunction to re-
strain the Atlantic. Gulf and the Clyde
steamship Company and their directors
from reducing the capital stock or from
consolidating or morg'-g the Clyde with
The New York herald., 1921-02-22
PR0FITED DURING 1920.
National FireprooGng Co. Reports
Net Income of S550,3o3.

A remarkable record was established
last year by the new regime of officials
IN the National F'ireproofing Company,
according to its figures for 1920. which
were announced yesterday. From a
deficit Of S2s4,936 established in 1919
the corporation changed TO n profit in
1920. its net income amounting to
$3.50, 500. or approximately $40 a
share on its preferred stock and S2.35
on its common stock. after the payment
Of the preferred stock dividend.
The rapid change in the corporation s
affairs Is attributed TO the management
OF w. L. Curry Of Pittsburg, who was
made chairman of the board after a
years connection with the CORPORATION.
The New York herald., 1921-02-22
METALS.

On the New York Metal Exchange
yesterday tin was weak. class a being
quoted at 32.5O633 asked class r at
IS a $3.50 asked and Straits shipments at
32m33.5O. Copper was dull spot. Feb
ruary and March, f3.12is asked. Lead
was quiet; New York spot. 4.i0 asked.
and East ST. Louis SPOT, 4.35 lpA.40
asked. Zinc was quiet New York SPOT
525. and East st. Louis asked. The
American Smelling and Refining Com
pany reduced It's price OF lead from 4.G0
to 4 40. New York and East ST. Louis
The New York herald., 1921-02-22
P. L0RIILARD COMPANY GAINS
Reports Surplus After Charges and
q. =. Taxes OF t,3Ds.

The y. Loriliard Company. which is
sued yesterday It's annual report for
1920. showed surplus after charges
and Federal taxes Of s6.551.39S. against
s4.g9i.St4 IN 1912
After deduction OF preferred dividends
the company's balance was equal 70
S1S.9s a share ON sac .30i. 700 Of common
stock. against s1727 share on S2f.
246. 500 Of common stock in 1919. Profit
and loss surplus az the close OF the year
amounted 20 S1O.Ti3.i97. Net income
after Federal taxes was S7.796.25S In
1920. against Se,252.459 in the preceding
wear.
The New York herald., 1921-02-22
REPORTS NET LOSS FOR YEAR.
william Davies Company shows
Shortage After Deductions.

The annual report of the William
Davies Company. Inc. for the year
ended on September 25. 1920. shows
$500. 404 in profits on operations of pack
ing plants, after charges for manufac-
turing. selling and general expenses and
maintenance. Deducting reserves for
depreciation. amounting TO S255.127. al
lowing for miscellaneous earnings of
s17s,764 and after deducting interest. the
company reported for the year net loss
Of S102,150.
The companys balance sheet of Sen
tomber %. 1920. showing inventories
valued at the low prices prevailing on
that day. also shows net tangible assets
Of s9.S57.O79.
The New York herald., 1921-02-22
COTTON GOODS QUIET.

Cotton goods were quiet in first hands
to-day and further softening In gray
goods was reported. Yarns continued
inactive and weak Fall overcoatings
and dress goods were opened for the
1927 season at prices ranging from q
to so per cent down from last season.
Raw silk was firmer. Burlaps were
Quiet and unchanged
The New York herald., 1921-02-22
SOUTHERN SPOTS.

Galveston quiet: unchanged at 13c.: sales.
S36 bales. New Orleans steady: unchanged
at 12.75c.; sales. sos bales Mobile nominal :;
unchanged az 12.50c.. sales. nil. Savannah
quiet. unchanged at i1c: sales, nil. Nor
folk quiet; unchanged at II. Toe. sales $40
bales. Augusta quiet unchanged az 12.50c. {:
sales. 80 bales. Memphis steady; UNCHANGED
unchanged at 1855: sales, nil Houston
steady; unchanged at 12.50c. sales, 1.5f7
bales Little Rock quiet; unchanged at f3c. :;
sales. 100 bales. Dallas steady; unchanged
al 10 15c; sales, 222 bales.
The New York herald., 1921-02-22
the Atlantic. Gulf or with any other cor
poration-

ELIOT. Me-, Feb. 21.--Announcement
was made here to-day that the Atlantic.
Gulf and West Indies Transportation
Company. a subsidiary OF the Atlantic
Gulf and West Indies Steamship lines
had filed with the Secretary of State a
certificate increasing its capital stock
from $1,000. 600 to s6.000,000. Both are
Maine corporations. The purpose OF the
increase was not given.
The New York herald., 1921-02-22

CUSTOM HOUSE RECEIPTS.

Receipts for duties at the Custom
House yesterday were S547206.59. Of
which S159.5S9.5S was for merchandise
withdrawn from bonded warehouses and
s3S7.6f7.01 for recent importations.