davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-11-05
Da niels Motors

The following letter has been re-
ceived from the Daniels Motor Com
psny, Of Reading, Pa:
"In one of the columns of your news
paper Of November !, in answer to a
question with regard to the opinion of
the Daniels Motor Company stock,
there appeared the following statement,
which we request that you retract
in as noticeable form, as it appeared:
. We think that is yet Impossible TO
answer your question to whether or
not the Daniels fs good car. Ihe test
OF motor car to our mind. Is several
years operation under service conditions.
Even IL the Daniels eventually passes
s1ch test however. we still think that
any company which is beginning the
manufacture Of motor cars at a time
when many Of the we'll COM
ranies are finding the going hard. stands
good chance OF coming to grief
"This statement unquestionably con-
vcys a false impression and is mani
testify untrue, inasmuch as the Daniels
car has been manufactured since the
latter part Of 1915, and over a thousand
Daniels cars are now running in the
United States in the hands Of satisfied
owners, many Of whom have given the
car abnormal tests for a period Of
years"
Editors Notc.-The Tribune finds
that the quoted portion Of the state
,mcmt which appeared n, this column re-
garding the Daniels Motor Car on No
vcn,ber 1 aOas erroneous, and that the
statement Of the Daniels Motor Com
pany to the effect that the Daniels motor
car has been manufactured since 1915 is
corrcct.)
New-York tribune., 1921-11-05
Rail Chiefs to Meet
On Wage Cut Next Week

The decision of the railroads to pro-
ceed with plans for further cut Of 20
per cent in wages and, in the event
that these plans are successful. to
translate those reductions into lower
freight rates, will come up for formal
discussion at meeting of the Associa-
tion of Railway Executives in New
York some time next week. This viii.
be the first gathering of the member
roads since the meeting in Chicago on
October IA, when the announcement
was made that no further general re-
duction in rates could be made without
corresponding lowering of wages.
Since the Chicago meeting. however.
several important reductions have been
announced affecting shipments the
bulk of which have been. going through
the Panama Canal. These reductions
cannot be put into effect until the nee
essary authority has been obtained
from the Interstate Commerce Com
mission after duly appointed hearings,
which are likely to run beyond the first
of the year.
Regarding the public demand for a
reduction in rates railroad officials
pointed out yesterday that the Inter
state Commerce Commission has no
power to order lower tariffs because OF
the provision Of the transportation act
fixing rates that will yield 512 per cent
on the property investment.
New-York tribune., 1921-11-05
Haskell, & Rarker.pnllman

There was sharp run-up in both
Haskell & Barker and Pullman shares
just before the close yesterday. The
former sold ct 1874 and Pullman at
1O3z4. The action of the Chicago,
Milwaukee & St. Paul in purchasing
$500 cars, of which Haskell & Barker
get 1900, was regarded as favorable
development. Advices from Chicago said
that the two committees appointed
on the proposed Haskell & Barker
Pullman merger are making progress
and that announcement of consum-
nation Of the consolidation may be
made within a week. The committees,
it was said, have not yet reached the
point of discussing figures on the ex-
change of stocks. Pullman stockh old
crs are reported to be expecting some
sort of distribution
New-York tribune., 1921-11-05
Stock Prices
Are Irregular;
Bonds Up Agar,
New High Prices Are Es-
tablished in Investment
Securities; Reaction
After Upturn i'm Shares

Again yesterday the broad advance
In bond prices at the exchange over
shadowed all other market develop-
nents. Stocks, on the other hand, pur-
sued an irregular trend and the close
showed few striking changes. In the
bond market the trading expanded even
further than on the preceding day, and
testified to the urgency of the demand.
Many new high prices were established
in investment securities. Dealings in
bonds aggregated par value of more
than $2e,ooo,ooo, making i one of the
heaviest days trading of the year.
The best that could be said of stocks
was that prices were generally we'll
maintained on a moderate volume of
activity. The more speculative part
of the list worked higher during the
forenoon, but the rise invited profit
taking, and the offerings for realizing
purposes checked the upturn. The most
striking feature of strength in the in
dustrial list was Haskell & Barker,
one of the railway equipment issues,
which has lately been mentioned in
connection with merger with the
Pullman company. Steel common, after
its forenoon rise above 81, eased off
and showed slight net decline at the
close. Rail shares were generally
neglected.
The demonstration in Nhe bond mar
ket had many of the ear marks of a
bull drive in stocks. Few issues failed
to respond to the sustained demand
for investment securities. The United
States government bonds, which have
been advancing since the beginning of
the week, went further in the recovery
and the Victory 4As sold at par.
Others Of the same group touched high
prices for the year. An equal degree
of strength and activity developed in
railroad, industrial and most of the
foreign government issues.
Interest in the international markets
centered in the fresh decline in Ger
man exchange. Marks plunged to .4S
of a cent yesterday, which was the
lowest price reached so far on the
present downward movement The view
of the exchange market is that the Ger
man government has resumed offerings
Of marks to obtain funds to meet
the next payment on reparations ac-
count. Exchange on London and Paris
showed comparatively little change as
\ result of the days dealings.
In the commodity markets the decline
in wheat prices went further for
time, but after new lows had been es-
tablished, quotations closed Ia to z
cents a bushei higher. Cotton was
comparatively steady.
New-York tribune., 1921-11-05
General Discount Rate
Cut Completed by Banks
Cleveland and Minneapolis to
Put Lower Schedules in
Effect Monday

WASHINGTON, Nov. 4.-Completion
of the general reduction of rediscouns
rates in all twelve Federal Reserve
districts was announced to-day by the
Federal Reserve Board with the ap.
proval of reductions in the Cleveland
rate from SIX to 5 per cent. and in the
Minneapolis rate from 6 to 5is per
cent.
The rates in these districts are ef-
fective on Monday, while reductions in
other districts are already in effect.
The new schedule of rediscount rates.
which covers paper of all classes and
maturities. is as follows: AK per cent,
Boston, New York and Philadelphia;
5 per cent, Cleveland, Chicago, St.
Louis, Kansas City and San Francisco;
5h per cent, Richmond, Atlanta, Min
neapolis and Dallas.
New-York tribune., 1921-11-05
Answer-Swift & Co. stock has been
German Bonds

Question-Will you kindly give me your
5s selling at approximately s105? From
time to time I have noticed your opinion
on marks. but ! do not recall seeing any
various German municipalities which are
presumab bly, supported by the taxing power
of the municipalities.-J. +. c.
Answer-The fact that German cities
bonds are payable in marks makes them
nearly worthless in our opinion. If you
feel that you must buy German securi-
ties we think that stock of the strong
industrial companies is the nearest
thing to. an investment that Germany
has to offer at present. Stock repre-
sents ownership of property and not
q promise to pay in currency.
New-York tribune., 1921-11-05
Improved Copper Demand Continues

A favorable feature of the copper
market last month was the fact that
large proportion of the 140,000,000
pounds sold was for domestic ac-
count. The improved demand for the
metal has been particularly noticeable
from brass manufacturers, who are
running out of supplies of scrap, of
which they had such large quantities.
eve understand" says "The Engineer
ing and Mining Journal" that the
worlds stock of scrap is now largely
made up of the 10000 tons which was
recently taken over by a British metal
company. This will in large part be
divided among American. German and
the British rehneries, and deliveries
are to extend over the greater part of
the coming year. The balance will no
doubt go to brass manufacturers, who
will be able from time to time to take
reasonable quantities of the higher
grades. The scrap bogey is now Il
thing of the past, and by May the sur
plus American copper stocks are likely
to have faded away Also
New-York tribune., 1921-11-05
Cuha Cane Sugar

The $1O,0OO0OO new money which the
Cuba Cane Sugar Corporation has at
its disposal as result Of the new
financing plan being declared operative
will not be paid in lump sum, but as
needed. 1T was said yesterday. Super
vision of the expenditure of the money
rests in subcommittee Of the board
of directors. Acccptances, about $4 ,500.-
600 of which have been paid off and
$13,500 900 renewed, were recently held
by more than seventy banks and bank
ing institutions. Some Of these are
understood to have participated in the
new S1O,0OO,00O loan. The new money,
according to the recent circular sent to
debenture holders, should carry the
company to January Is. 1922. BY that
time. it is hoped, present unsold stocks,
in the neighborhood Of 2 100000 bags,
will have been largely liquidated. This
would enable payment of the accept
ances and reduce outstanding obliga-
tions to $45,000,000 or less.
New-York tribune., 1921-11-05
The Dollar in Foreign Exchange

In a spectacular way the slump IN
German marks to a new low record OF
.43 of a cent was the feature of the
local foreign exchange market, although,
transactions in this currency continued
small. Quotations moved in sympathy
with the market in London, where most
q the business was transacted:
Cable rates on London declined a
quarter of a cent, at $3.94%. Con-
tinental exchanges moved irregulariy,
French francs and Scandinavians hold
ing firm, while most of the others
burned easy.
Exchange on Indian and Chinese
senters ruled easier.
New-York tribune., 1921-11-05
Pacific Oil Report

The earnings statement Of the Pa
cific Oil Company for the nine months
ended September so, showing s3.79
share earned for the stock, was appar
emily not quite up to the expectations
of the Street, judging from the reac-
tionary tendency of the shares after
the report had been published. The
surplus, however, was more than suf-
ficient to pay full dividends for the
year of SO share, which is apparently
what the directors intend to pay.
New-York tribune., 1921-11-05
Carriers in Rail Market

indicated by current reports that con-
tracts expected to be closed this month
for shipment next spring are estimated
at 100000 tons, of which $4,000 tons
are for Eastern roads and 10000 tons
for carriers in the West and North
west. In addition to the 44,60O tons
purchased by the Southern Pacific, al
ready announced, it is understood that
the Illinois Central is on the point o.
closing for close to $4,000 tons for
1922 delivery.
New-York tribune., 1921-11-05
General Electric

The General Electric Company is to
be an important factor in carrying
out the illumination program of the
Brazilian Centennial Exposition, which
will open near Rio de Janeiro in Sep
tember, 1922. The program will in
volve a large power plant and con-
siderable amount of wiring and illu-
minating equipment for both the Bra
lillian buildings and those of other
nations. Contracts for wiring have
been awarded to the General Electric
Company of Brazil, which handles the
parent company's business in that ter
ritory. The cost of the illuminating
equipment will exceed $1,000,000.
New-York tribune., 1921-11-05
Investment
Information

QUESTION: Of general interest TO in
pestors vill be answercd in this col
up,n, in which case only initials witi
be used. Others wiH be nnswercd by
mail. Address all Inquiries. inctos-
ing stamped, oddrcssed envelope, to
Financial Editor, The Tribune, f54
Nassau Street, Ncw York City.
New-York tribune., 1921-11-05
Dividends

Stockholdess -
Rate. Period. Payable. Record.
Amer Smelt 6
Ref CO.. pf-l4ss Q Dec. ! Nov. "a
Stand OH OF
New York. 81 @ Dec Is Nov. rs
CT Lakes Dock
& DR. dge Co. 20 Nov Is Nov.
Harbis'n-W -Walk'r
Refract Co.. $3.50 @ Dec Nov. 10
do pf. $3.50 Q Jan 20. 90 Jan. 10. 70
If h t N
Shirt 4aAc O Dec 1 Nny Is
New-York tribune., 1921-11-05
Endicott-J t-Johnson

Endicott-Johnson was another indus
trial issue that made new high for
the year yesterday, touching 72h, com
pared with the previous high of 71as.
The companys Binghamton plant is
now reported to be running on full
time Output is estimated at $4,000
pairs of shoes a day, which is 10000
pairs greater than the output duri. g
the war, when all business was running
at full capacity
New-York tribune., 1921-11-05
Paris Market HEAVY

PARIS, Nov. 4.-Prices were heavy
on the Bourse to-day. Three per cent
rentes, So francs rs centimes; exchange
on London, So francs 80 centimes;
per cent loan, 80 francs 20 centimes.
The dollar was quoted at 13 francs %
centimeS
New-York tribune., 1921-11-05
Brazilian IS

Question-Do YOU cinsider City of Rio
de Janeiro and United States of Brazil ss
gooi Investment tor business man:
also, what Dor DIS netting around per
cent do you consider of a higher class?
would also like to Know what you think
OF issue of alabama Power Company
honds which were fcated In England
few years ago. If you have any dope on
them. r s.
Answer-We think that City of Rio
de Janeiro SIS and Brazil 8s are good
business mans investment in fact, We
think that they are probably among the
best bonds available at the present time
with such a high yield. The Alabama
Power Company bonds to which you re-
fer, are, we think, the first gold SIS of
the Alabama Traction, Light and
Power Company, which controls Ala
bama Power and several other power
companies in that territory These
bonds were sold in London in March,
1912. They are in denominations of
500 and $500, subject to call as
whole or in part at any time on six
months notice at los and interest and
participate in the earnings of the COM
pany to the extent of an extra l per
cent interest in any year when div
idends are paid on the common stock.
No dividend is being paid on the COM
mon stock at present. however. For
the year ending eDcember 81, 1920, the
company earned $244.000 above charges
and depreciation.
New-York tribune., 1921-11-05
Corn Products Continues Advance

Strength in Corn Products continued
yesterday, and the stock made a new
high for the year at 87h. The special
ist in this issue has reported large
volume of public buying since the pub
lication of the earnings statement for
the September quarter, showing the
full years dividends of $6 a share more
than earned in nine months. The com
pany is one of the few industrials
which has weathered the postwar re-
period successfully. 1t has
been using its surplus fund for retiring
bonded indebtedness, which is now
around $5,563, 900, compared with S5,-
923,160 on December 81 last. Indica-
tions are that the surplus for the com
mon stock at the close of the year will
equal more than $40 share. Earnings
for the first nine months were equal to
$754 share, after all charges, taxes
and heavy depreciation.
New-York tribune., 1921-11-05

Bank Clearings-Bank clearings at
New York yesterday were: Exchanges,
$767 400, 600; balances, $75,ooo,ooo.
Silver-London, 39%d; New York,
domestic bar, 99Ac; foreign, 69ssc;
Mexican dollars, SO 12c.
New-York tribune., 1921-11-05
London Market Featureless

LONDON, Nov 4-There was no fea-
ture to the trading on the Stock Ex-
change to-day. Bar gold was quoted at
lois 4d; money was loaned at 21s per
cent. Discount rates were: Short bills,
81 per cent; three-month bills, 1915
@3A per cent.
Closing quotations on stocks were:
New-York tribune., 1921-11-05

CHILE (par ss.6 cents n peso)
Cheeks :.l.s7h lls6 1900
Checks ........se.75 SS.s2h 5000
VENEZUELA (par 1913 cents bolivar)
Checks 1867 1857
Canadian Exehange--New York funds in
Montreal 81 per cent premium; Montreal
funds in New York. 1916 per cent dis
count
New-York tribune., 1921-11-05
Wants to Speculate

Question-The following stocks and
bonds We're left to me by my people, and
are all l have. My health is poor and |
have child to educate am very anxious
to make some changes in the list, and IL
possible l must have more interest l
sh ould like to sell the poor class invest
ments, invest the proceeds in some stock
that has a chance of advancing bust
ness conditions improve, then as soon as
Of the stocks / now hold SELL investing the
money in good. safe bonds. / intend to live
on my interest, and the bonds which you
consider high grade I will keep. One $500
Chicago North shore & Milwaukee 8 per
cent. due 1923; one 81 900 American Tele-
phone and telegraph Is per cent. due 1924 ;
due 1925. one $1,000 Armour & Co per
cent. due 1889; $1,000 Cuba Cane Su-
gar per cent, due 1880; one 81 900 Arllan-
sas Water Company per cent, due 1890: :
per cent due 1880; one $1,000 Kansas City
Southern Railroad 5h per cent, due l956;
York, Chicago & st. Louis first preferred
railroad stock, bought at IS; five shares
Willys OVERLAND preferred bought at 9s;
ferred. bought at 45; FIVE shares Transcon-
tsnental OIL, bought at 42-E. r.
Answer--If you will stop to con-
slider what you are really doing, you
will see that you are attempting to
speculate in stocks, purely and simply,
and if you should by chance win then
you are going to turn over q new leaf,
which would be good, and make in
vestments. That is what is in the
mind of nine out of ten people who
know nothing about speculation and
almost always lose out. Assume that
you sold some of your second grade
bonds and bought stocks that are now
paying dividends and suppose that the
company should go through a period
of three or four years of severe de-
preston, then your stocks would not
only sell at a much lower market
price but would discontinue dividends.
For a woman in your position the safe
and sound thing to do is to sell your
less desirable bonds, and we would ad-
wise you also to sell the stock that
you now hold
New-York tribune., 1921-11-05
Cotton Exchange Closes Nov. III

The board of managers of the New
York Cotton Exchange has voted to
close the exchange on Armistice Day,
November II.
New-York tribune., 1921-11-05
Bid and Asked

Following are the closing bid and
asked quotations of stocks listed on the
Stock Exchange in which there were
no transactions yesterday:
New-York tribune., 1921-11-05
I'm Wall Street
Speculation in Bonds

Bond men said yesterday that there
is an increasing volume of speculation
in the bond market. This accounts, i'm
part, for the sudden expansion of ac-
tivty. 1t is pointed out that with
prices Of bonds of all descriptions rap
idly mounting the public Is likely to
become less discriminating in it's pur-
chases
New-York tribune., 1921-11-05

Bid. Asked.
do I PC pr So 6s
Am Wh pr... 92h 96
AM Wool pr 1914 102h
A q l. l. pr 80 S3
Ann Arbor :. 6h II
do pr 40. is "a
Ar Metals. INK 10
Assets RI Co. l IA
Atlantic Pet. 81 2lh
Atlantic Ref. .920 $50
Atlas Tack e.. lix
Austin Nichols az l0H
do pr -. 60 66Ls
Auto Sales Co 2& az
Raid Logo pr 81 100
Barnett Lea. S5 So
do pr .. rs e6
New-York tribune., 1921-11-05
Largely Speculative

Question: have $1,000. which am
planning to invest in five shares OF Ameri-
can Telephone and Telegraph and five
shares of Swift e. Co. VIII you kindly ad
wise how I can secure the Swift & Co. and
price I should pay for same? Please give
your opinion of the above as invest
ment and on the following list OF securi
ties: Anaconda SIS, due 1929, purchased at
$3.50; Dominion of Canada 5s due 1925.
purcha sed at par; Dominion Of Canada BIS.
Chino Consolidated Copper. purchased at
35; ten shares of Chino Consolidated Cop
per, purchased at 20s4: ten shares OF
kennecott Copper, purchased al IL "a; ten
shares of Chile Copper. purchased at 10.
Are there any changes in this list that you
would suggest? Could a better return and
good security be obtained by g. switch In
the bonds III. e. c.
Answer-Swift & Co. stock has been
recently quoted on the Chicago Stock
Exchange at about sc. AS an invest
ment we do not consider it in the same
class with American Telephone and
Telegraph Good bonds, however, are
far better than either. AS for the rest
Of your list, your Dominion of Canada
IS are investments of the first grade
your Anaconda 6s are fair investment
and your various copper stocks arc
utterly speculative. If you are asking
us to make changes which will give
your entire list an investment char
acter we can only advise you to sell
your copper stocks and buy such bonds
as we frequently recommend with the
proceeds.
New-York tribune., 1921-11-05
Money and Credit

Call money firmed up yesterday to
BA per cent following renewal rate
Of per cent.
New-York tribune., 1921-11-05

Bid. Asked.
Harnsdall b.. 90 "a
Beth Steel q. 81 "a
do pr ..... 9oh s1H
Rkn Edison. :. "a 96h
Rrown Shoe. :. 4lh AZ
Bun II & p, IS 65
do pr $50, II
Bun & Sus.. rs
do pr ...- IS
Burns Brs pr.l0o ITO
Bush Term. =. 100
Can Southern. AK
Case J I pr. ~ IS
Cer.aintcesi -. os 30
G e. Ait pr 9h l.
c & Y I ctfs 2is 3
do pr cus.. rs iA
C & n " pr. iol lo7
Chi Pneu Tool "a SIS
CSPM & o pr rs 7s
q & Pitts. sax 65
Cuett Peab pr So 81
q & S lst pr 80 53N
Con cigar pr IS ca
Con Dist -. y |
Cont Can pr. 9s 81
Cont Ins Co. 81 o.
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-11-02
S17,219,695 Balance
in The State Treasury

Charleston. ". Va. NOV. IA toni
ca sh Ia.ancc Of s!7.2f?.n?S.l4. The !ars-
cs, ,o- xe,t-a. months. WAS reported to-
lavi a., All ,:ars friHd~ ny state Treasurer
" e johnson, IN his rc:"rt for 'c'"-
ter.
tbs condition 81 the treasury Was
rad. rn~3!h!e through the sal" during
,hc month O, the ;IJ.nehnOU ROAD mona
.ss.;n the treasurer says. the cash
t.Ionrc IN the s,a'e road fund alone a
,I,. ,i,,, 81 business October 81 was
fl5.g27.s+j?+.
- he beginning ~ che month the
h..,n.e N the road fund was $"3loes.-
=, Receipts amounted {" 3lS.2b3.-'l'-
.,u md disbursements were $2SS.6Sl 81.
Tho treasurer reported grand tota!
balance. including investments. or va
6SiSa6la The amount OF the school
fuad invested is 3l.oOO.ooo and 39.tsS,@oo
uf the wortmcr's compensation fund Is
invested The condition Of other FUNDS
remained practically the same during
tho month 81 October. with slight de-
,.r.ases in some and increases In others,
the report shows?