davidaulloa/AmericanStories huggingface dataset:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

Stockholders to Vote on Pro-
posaI on April z.

Special meetings Of the stockholders
OF the Dominion Steel Corporation, the
IRA Scotia Stee: and Coat Company
and the Halifax Shlpyards have been
called For April to vote on the proposal
10 consolidate the companies into the
British Empire Steel Corporation, the
long talked OF Canadian steel merger.
The details OF the consolidation have
been practically completed BY the man
agements of the consolidating companies
and their stockholders will be asked 70
approve the proposal at their forth
coming meetings.
The basis on which the stocks OF the
three consolidating companies will be
exchanged for stock of the bigger COR
poration is understood 70 be substan-
TALLY as follows:
Every fully paid ordinary share Of
Dominion Steel viii be exchanged for
500 of fully paid per cent cumulative
second preference shares every fully
paid common share of Nova Scotia
Steel will be exchanged for $50 fully
paid per cent. cumulative second pref
erence shares and $40 common shares
every 800 fully paid common share Of
Halifax Shipyards win be exchanged
for $50 OF Z per cent. cumulative prefer
ence shares and S25 common shares.
None of the stock of the British En-
pire Steel Corporation will be issued
except what shall be necessary to pro-
vide for exchange Of shares Of the con-
solldating concerns. The present pre-
ferred stockholders Of the merging
companies will be given preferred shares
OF the big company, probably on share
for share basis.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23
BRAKE SHOE EARNS S13.OS.
More Than 100000 In Invcn-
tories written on. Report Says.

The annual report Of the American
Brake Shoe and Foundry Company for
1920, issued yesterday. shows net in
come after all charges and Federal
taxes OF s2.571.S4S. equal to S13.0S a
share earned on the outstanding COM
mon after deduction of preferred divi-
bends and dividends on subsidiary
stocks. Profit from operations totalled
S2.5S4.593 after depreciation reduction
OF inventory values ard estimated Fed
eral taxes. For losses on Liberty bonds
s3S7.133 was written of and S74S,693
was paid in dividends on the common
stock in addition to S626.247 distributed
on the preferred
Joseph Z. Terber president. said IN
his report:
Average rate OF production for the
entire year was "a per cent. Of capacity.
compared with 52.9 per cent. FOR 1919.
Net income was arrived at after taking
loss slightly exceeding 100000.
owing to writing down to their market
value raw material on hand, In transit
and due on future commitments. as well
as a substantial part of manufactured
stock on hand and in process Of manu-
facture."
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23
Maintenance and r..
SsfI
pRODrCTION IN TON

That the corporation had gone ahead
In 1920 with q large programme OF ship
production was generally known, but tho
fact that that work in 1920 nearly quad
rupled that of the preceding year was
not revealed until tho report was made
public Judge y. ~. Gary. chairman Of
It's board has said that MS long as Il III
profitable for the corporation 10 build It's
own ships just so long Will IL DO 50. Iii
connection with the big drop OF nearly
$4,000. GOO Ia Federal taxes the report
fails 10 disclose the reason That thu
corporation has been consistent in main
tanning policy or expansion and de-
more than S27 900. 600 in net capital out
ley,
For the year the output Of tho COM
pany's steel plants. measured by the ton
mage Of finished products FOR sale. aver
aged SS.3 per cent Of capacity. During
the -four months from April TO July botn
Inclusive. the output equalled only about
So per cent ~ the capacity.
owing ID financial conditions which
prevailed DURING the latter part sc
1920" Judge y. n. Gary. tile company
chairman, points out iu his remarks
the subsidiaries were required 10 carry
an increased amount or credits 10 GUS
toners. II + believed. however that
these credits orc safe and will be FUZZY
realized upon In due course. very
considerable part Is due from railroad
companies and interests dependent upon
them which hive been unable TO receive
currently guaranteed and other balances
due them from the United states"
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23
SHAFFER OIL IN NEW HANDS.
Standard Gas Takes Over Control
ling Interest.

II. NJ Byllesby & Co, on behalf OF
the Standard Gas and Electric Com
pany. have acquired. on very favorable
basis. the stock and other interests in
the Shaffer oil and Refining Company
heretofore owned by G. r. Shaffcr r.
*. D. Shaffer and Il. T.. Smathers. ac-
cording TO formal announcement made
yesterday BY the Byllesby firm. The
Skaters and their associates have re-
signed from the directorate and 9. "
Moore, general manager Of the refining
end sales department Of the ShaffeI
company, has been elected its president
10 succeed G. II. Shaffcr
Shaffer oil stockholders will be mott.
fled In, the near future Of a proposed
reduction IN the company's outstanding
common stock and plans for effectinl
the reduction The company retails al
its large holdings including the re-.
Gently acquired acreage in the Cat Greek
and Wild Horse Lake section Of Mon.
tana, and viii proceed with the develop
ment Of that property.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23
ISLAND CREEK PROFITS JUMP
$1S.35 share Reported by Coal
Company Compared with S9.45.

The report Of the Island Creek Coal
Company for 1920 shows net profits
after tax reserves and charges OF
S2.4S2.713. or $1S.37 a share earned on
the 11s.S01 shares of common stock
after preferred dividends. In the pre-
ceding year the profits were S1.1S4,Oo2,
or S7.45 a share.
Net earnings from coal were sS.S75.-
$40. compared with s1.749,5 1885, and adj
ministrative and general expenses We're
$16S.754 against s102.497. Charges for
depreciation totalled s575.4o7. against
S535.452, including taxes. in 1919. Other
income was $l90.S33 against S97,7l6.
Fcderai taxes for 1920 were placed az
s675, 900. while Si64.305 was written off
ms loss on Government bonds.
During the year the Island Creek
mines produced 1.795.077 tons Of coal, an
increase Of 1865 tons as compared with
the preceding year.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23
1920 BIGGEST YEAR
OF US. STEEL CORP.
Gross Business Was More Than
S1,750,000,000-Net Earn
ings S185,095.359.
WORKING CAPITAL ADDED
Increase of Production Shown
by Report-Ship Programme
Made Big Progress.

The United States Steel Corporate
during 1920 did a gross business Of
more than s1.750 .OOO. 900. the largest in
its history. exceeding even that of the
biggest war year 1918. Total receipts
from sales of iron and steel products
and the receipts OF transportation and
miscellaneous companies amounted TO
S1.755.477 .025. in contrast to $1.44S.557 ~
SS5 in 1919 and S1,744,312. 163 in 1918,
the biggest previous year. From its 1890
gross business the corporation had net
earnings. available for distribution on
its stock. OF S109694.227. which. after
deduction OF $25.919.67T in preferred
dividends, was equivalent to 1851 a
share earned on its $5oS. 500 OF out
standing common stock. in contrast to
net earnings in 1919 Of S76.794.5S2, or
$i0.14 share earned on its common
stock The figures in the pamphlet re-
port OF the corporation for 1920 differ
slightly from those complied from the
four quarterly statements OF the big
company.
The following table shows the chief
items of the income account OF the
corporation and its subsidiaries in 1920
and its changes from those of 1919:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23
nrcnrAene
EXPORTS FROM NEW yosK.

Exports from New York Yesterday ~
cludcd Wheat bu, iG.0e9 peas. bu.,
2.T0o beef toe, 322 lard. lbs. 3s7a.-
$40 cheese. lbs. 1850 lubricating oil.
gals. tfi,7eo; corn, bu.. 499,62S: flour.
sacks. 6S.Go3 bacons. lbs. l,sfa.50u +.
grease. lbs. $4,000 cottonsced oil, ms.
i.oss,o0o hops, bales, 936 oil cake lbs
500 200
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

L He sons Of early American ship owners were
trained by their fathers in the calling which
was the basis of the family fortune. They
Grounded the Horn" and sailed the southern
seas, in the China and India trade. Skilled
ship masters and traders, they carried on the
work of their fathers when the family estatcs
became their inheritances.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

f Il Blmstrom, Boston i, W. m Hamii-
tUu, charles X. Johansen. q. VI Lundbeck
G. 4 Okcrlnd, jamestown. G. y Rhodin
san Francisco, Cal. y. II. Seeburr, Chi
eago iu. and g. A. Smith. Berkeley. Cal.
we're elected yesterday 10 flll vacancies IN
tHe directorate of tho Swedish Chamber of
Commerce Of the United states 81 America
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

THO Guaranty Trust Company or NeW
York hss been appointed transfer agent ~
tho common stock of the General Syndicate,
Inc.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

Receipts ~ motion pictures theatres III tn,
United states for 1920 were more than -four
times the receipts Of nl other kinds 81
theatres, according 10 a circular on th,
Famous Players Laslty Corporation frN
Issued w Dominick Dominick. fneubef.
Of the New York stock Exchange The an
cular shows that the corporations earning
we're nearly seven times dividend require
nents on it, outstanding per cent prs
ferred stock. or s2i.TT n share. avauab,
for its common stock
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

tflth 4 Co have established depa rtment
.a deal III foreign and municipal bonds. spc-
clailxng ln Danish and Scandinavian issues.
Trt department. Il under the management n
charles =. Corbett, formerly with Jazard
rrltcs.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

Tne French American Banking Corporation
received yesterday $4,000 III gold from Mon.
fsfIdco by tho Bonheur.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

Tic Coca Cola Company reports earnings
from lts operations ~ February 1921 ~
sg35 500 20.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23
FINANCIAL NOTES

The New York stock Exchange las sttltl
u from the list the Chicago and North
Western Railway Company's stb.ooOOOO ~
ifteen year 81 per cent secured gold bonds,
Tue on March !. 1896, when issued. and fas
admitted % the list temporary bonds for
hem.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

Tho American Acceptance Councils latest
addition 70 It's series OF pamphlets on sr-
ceptanccs subjects u booklet entitled
bankers Acccptanccs as an Investment
hy Morton ". Fly.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

Moss Ferguson. 90 Beaver street. msm-
hcrs 81 Tire New York Cotton Exchange end
thc Chicago Board of Trade. are ISSUING &
letter on cotton.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

The Public Utilities Commission of Wyom.
ing has granted rate Increases 10 he
Cheyenne Light, Fuel aud Power Company,
CITIES servlse subsdisr ~, In IT, raa and
steam heating departments. Il r. estimated
that those Increases, which are effective
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23
increa Sc
A HAAN
.pecrease

decrease.
The companys balance sheet OF De-
cember 81, 1920. disclosed that its work.
ing capital had been increased during
the year more than $40. 900. Its
current assets at the close of 1920 stood
at S7o2.S70.d64 and current liabilities at
S156.745.195. The former represented
an increase OF more than $4,000. 900
and the latter decrease of little
more than $4,000. Inventories and
accounts receivable were much larger
than they were year ago. but there
was a relatively light reduction in SCI
curities, certain other reccivables and
a drop Of more than $43. 900 in cash
The reduction of current liabilities. on
the other hand in items other than ac-
counts payable was sufficiently large to
offset the jump of $4,000. 900 in that
item.
Appended is a comparative statement
of the salient features of the statement
Of working capital. eliminating all but
the most important items:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-23

Decrease
1920. from 1919.
Inventories ......,. S25s 1858 4o7 1881 .566.si9
Accounts receivable. i3s. T2i,s43 CSC, 532 ,o51
Liberty bonds ana
Cash ................ 12l,53o.76l 4s,o65,s51
Total ................ 7o2.s70 Isl .sC,c75, o7G
CURRENT LIABILITIES.
Accounts payable. s7s,5ll SCI 's12. o53,oo7
Accrued taxes ..... G3, O63 $50 d.olO.il5
Accrued dividend and
interest ........,... 70 l3N 403 .O1,l ~
Total ... ........... 56.115.t Q5 326, 06S
Working capital ..... 81. G2J ,269 '30,i0i .lJs
sIncrease.
Several interesting points are dis
closed fin tho report, vouminous affair
setting forth at considerable length the
infinite details Of the corporations oper-
ations. II shows, for instance, that the
salary and wage costs Of the corpora
ton passed for tho first time the $780,
900. 600 mark. aggregating in 1920 $751;
$685. against S479,54s. 040 in 1919. a
part Of that increase is attributable 70
the increase in wages granted about a
year ago and a part to the fact that the
average number Of employees was larger
in 1920 than It was in 1919. The aver
age earnings day for corporation
workers in 1920 was ST. against s6.17 in
1919.
"A consistent increase in production Of
All Of the corporations important prod
ducts was made during the year. An
advance OF approximately 100000 tons
was shown In the total output OF iron
ore. coal. steel ingots and finished steel
some increases being slightly less than
100000 tons and some slightly moro.
Pig iron alone was less than 1000, 900
tons higher.
The following table presents COMPARE
Sons Of the salient features Of interest
contained IN the report aside from the
balance sheet and the income account
New Britain herald., 1921-10-26
!. BILLION DOLLAR BANK
Frank Vanderlip offers Proposition to Officials of PoIand-Dollar Would be Basis of Business.

Warsaw, Oct. 26.-(By Associated Press)-Plans for establishment of the Bank of United States and Europe" which would have a capital of $1,00O,- 00O,000 were presented to President Pilsudski, former Minister Skirmunt and Minister. of Finance Michalski by Frank A. Vanderlip, the New York fi- nancier, yesterday. Under MT. Van derlip's plan. subsidiary banks would be established, and exchange of prod ucts between nations would be on the dollar basis. N
 "I am not offering 8 panacea,' said Mr. Vanderlip last night, "but am a doctor offering prescription in aid of central Europe. am not represent ing any group or government nor am I pressing for a decision, because the success of the undertaking would be possible only if several countries of their own initiative should invite a group to organize such a bank. The plan provides for capital stock amount ing to $1,000, 100000 in gold and the institution would be governed by nine trustees, five American and four Flu ropean. Under this control the na- tions would establish banks to issue dollar notes, backed by a gold reserve for trading purposes
New Britain herald., 1921-10-26
STONE CHARGES RAILROADS WITH TRYING TO KILL OFF
 UNION OF BRO7HERHOODS
PERMITS TO BREWERS
 TO BE ISSUED SOON
Manufacturers Have Only to Apply to State
 Directors.

Washington, Oct. 26.-Issuance of permits to brewers for the manufac- ture of medical beer under the new treasury regulations will proceed with promptness and dispatch, Internal Revenue Commissioner Blair said to- day.
 Operation of the regulations pro- mulgated on Monday, MT. Blair said, would be devoid of red tape and with out undue delay. Brewers have only to apply to their state directors he explained, in order to obtain the neces- sary permits.
 Brewers who have violated the pro- hibition law, MT. Blair stated, would be unable to obtain these permits but in his opinion he added, there were not great many of these.
 Instances of the purchase of closed breweries by companies formed for their operation under the new regula- tions Mr. Blair declared, would be thoroughly investigated before permits to manufacture medical beer would be issued. Where the transaction was not "blind'' but a bona f1de business venture. he said he could see no req son why such concerns should not operate under the treasury regula- tions.
New Britain herald., 1921-10-26
PRIEST CALLED OUT
 AND SHOT TO DEATH
Father Belknap of St. Patrick's Church
 At Lead, s. D., is Foully a Murdered.

Lead. s, D., Got. 26. - Father Belk- nap, parish priest at St. Patrick's church here, was lured from his home today and shot to death.
 The priest was called from his bed by a man who represented that he wanted him to answer sick call. Ths priest, whose quarters are in the resi- 5dence of the Bishop of Lead, dressed hurriedIy and went to his garage for his motor car. He was heard to att tempt to start his automobile. His car, however, would not work and the priest left the garage on foot in com pany with the man.
 Later persons living in the west part I@ag s5sf r slssts IS Known asePoor Man Gu'eh load, heard three pistol shots in rapiL sucoaesien.
 An investigation made by persons living nearby resulted in the finding of Father Belknap dead on the road. He had been shot three times through the body. One shot entered his head. His body was lying face downward on the roadway. There was no ssign Of struggle.
 The priest wore a cassock over his street clothes. No motive is known for the crime.
New Britain herald., 1921-10-26
LIVELY WORDY BATTLE
 IN CITY HALL OFFICE
Sam Menus and Assessor Burckhardt Swap
 Compliments.

Following heated argument in City hall this morning In which Chairman August Burchardt of the board of assessors and Sam Menus, one of the owners of the D. c. Judd property on Main street, were the principals, the latter left the for mer's office with statement that he would bring suit against the city of- ficial.
 MT. Menus called upon an attorney a few minutes later. He was advised by counsel against bringing the mat ter into the courts, his attorney ex- plaining that it should be allowed to pass as official impoliteness' and f'official discourtesy."
 The complainant called upon Chair
 man Burckhardt for the purpose of filing a list of his taxable properties. While discussing his holdings he re- quested the assessor to see that the Judd block, opposite Central park, be given lower valuation next year than last, it being his contention that the 1921 figure was far too high. He explained that the building was purchased by him for s1s6, o0b and Is now assessed for $1So,000. Menus dlSO lOlu lHS CndlK1udIl. LHdL In0 F6n- tals in the upper floors have been re- dueed during the year. According to. Menus statement, Bhrckhardt tifen asked hilh If he was not charging $e0e for a lease an one store. The reply was that he asks but sS5o and cannot cancel the lease if he wanted to. The taxpayer claims that the assessor then replied: You're a liar: and I'll take the word of the other man first" l Menus parried with demand that the statement be retracted. By this time there were about a dozen persons in the office and the tones of the two men were. far from modulated After they had argued back and forth for several minutes, Burckhardt or Idered Menus out of the office but the
 latter refused to go, reminding the assessor that it was he (Menus) and
 other taxpayers who paid of1cials' salaries, hes told a reporter. l Threatens Suit.
 l Menus supplied the assessor with
 what information was desired for the
 tax list and then left the office with
 the statement that he would bring
 suit for the public insult which he
 claimed was hurled at him.
 As explained by officials, the Judd
 block is held by Menus and others
 under a bond for a deed. As far as
 they were in position to know
 however, Menus makes the leases Tcollects the rentals and pays the taxes.
 Chairman Burckhardt explained
 that he attempted to prove wherein
 Menus was receiving good returns or
 the property and the latter attempted
 to "shut him up.' This, he sad, he declined to do. The assessor denied having committed any act of dis. courtesy
New Britain herald., 1921-10-26
POLITICAL EQUALITY FOR COL0RED PEOPLE Harding Insists However, They Never Seek Same
 Social Status.

Birmingham, Ala, Oct 26. = The right of the American negro to broad CT political, economic and educational advantages based on a pride of race but never on an aspiration for social equality. was championed by President Harding here today in plainly word ed enunciation of his views on the whole American raca problem.
 These are some of the principles on which the president appealed to the nation to Hay aside old prejudlces and old antagonisms, and give support to constructive policy of racial rela- tionship:
 Politically and economically there need be no occasion for great and per- manent differentiation, provided on both sides there shall be recognition of the absolute divergence in things social and racial"
 1T would say let the, black man vote when he is fit to vote; prohibit the white man voting when he is unfit to vote"
 1T wish that both the tradition of solidly democratic south and the tra- dition of a sohdly republican black race might be broken up"
 T would insist upon equal educa- tional opportunity for both.' :
 "Men of both afaces may we'll stand uncompromisingk against every sug- gestlon of social equality, This is not a
 yGontinu aue ol. TSre1ftf. Page)
New Britain herald., 1921-10-26
SHOE WORKERS MAY
 HAVE WAGES SLICED
Factory Owners at Lynn Submit
 Proposition to Union WILL BE DECIDED FRIDAY
VTOrkmen's Organization Will Take up Matter at Special Session = Labor Conditions Make Action Necessary. I3 Explanation.

Lynn, Mass, Oct. 26.-Proposals for an immediate 20 per cent. reduction in the wages of the 13,00O shoe workers in factories affiliated with the Lynn shoe manufactuxers association were submitted to the workers union today for approval.
 Under an agreement with the unions changes in rates of pay are effective only when both sides are agreed that such a change is necessary to stimu- late business.
 Letter Are Sent.
 The proposal for reduction was made in letters sent by George w. Gage, secretary of the manufacturers association to union representatives with the suggestion ithat unemploy- ment and general depression existing in the shoe industry warra nted the ac- ton.
 Meetings of the union councils will be held Friday night when the pro- posal will be taken up. Forty fac tories including several Of the largest in the city are affiliated with the man ufacturerss association.
New Britain herald., 1921-10-26
City Bureau to Replace
 R. R. Men Who Leave Work

In the event of a rail strike, Mayor U. F. Curtis has planned to turn over the services of the municipal employment bureau to the task of replacing railroad men who give up their work. The mayor questioned Employment Agent James Cochrane this afternoon as to whether or not 1t would be possible to prepare a list of men willing to take such employ ment. The labor bureau head ex- pressed himself as of the belief that it would be an easy task. Among those registered as out of work is one locomotive engineer.
New Britain herald., 1921-10-26
TRIED MOVIE STUNT
Eleven Year Old Boy Seriously In- turcs Three Year Old Playmate While Initiating Screen Actor.

Dayton, O., Oct. 26.-Imitation of stunts seen in moving pictures to- day resulted in the arrest of II year old Emerson George in connection with injuries inflicted upon three year old Everett. Sortman, son of MT. and Mrs. Charles Sortman.
 The Sortman child was found tied to ush this morning after an ali- night search.
 Wounds were found on his head and he was rushed to hospital where physicians said he would live, al- though he was reported in a serious condition.
 Police. reported that young George confessed he had bound and Injured the Sortman boy and quoted the II year old lad as saying
 "I,was initiating stunts I saw in the movies"
 The boy will be examined by a mental expert.