davidaulloa/AmericanStories huggingface dataset:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
COTToNsEED OIL.
Range OF prices: Pr
FOUNDRlES DIVIDEND
PAID BUT NOT EARNED
Company Reports Earnings
Drop in 1921.

Although tho quarterly dividends of
the American Steel Foundries for three
months ended on June 30 were not
earned, they were declared yesterday by
the company's directors. The common
dividend of rs cents share was made
payable on October Is to stock OF record
on October /. and the preferred dis
bursement. s1.75. will be paid on Sep
TENDER 80 to stock of record on Septem-
Der Is.
The companys report for the fret
half OF tits year showed net operating
earnings Of s777.547. in contrast to
S4,002.645 in the corresponding 1920
period. Depreciation charges were
S267.373. against s2S7.209. and other in
come $iS3.210. against s219.G31. Fixed
charges aggregated s277,10e, against
s223.253. and sS1,500 was set aside for
Federal taxes.
r. p. Lamont. president OF tho COM
pany. In announcing the dividend. said ]:
THE directors declared the regular
dividends. although the earnings state
rnent shows they were not earned The
balance sheet Of June 80. however.
shows the company TO be In sound and
satisfactory condition. We have no
money borrowed from any source. We
have $4,000. 900 In cash and over $4,000
600 invested I'm securities. mostly Lib
erty bonds and certificates OF indebted
ness. The surplus is over sf0.000.000.
Our inventory has gone down $4,000 900
since the first of the year. although II
was low ut that time.
Business for the present IL not good
and for the Immediate future will de-
pend largely upon tho action OF Com
eress on the bill to permit the War
Finance Corporation TO fund the obliga-
lions OF the railroads and give them
funds needed for proper maintenance OF
roadbed and equipment"
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
CONSOLIDATED EXCHANGE.

Spirited inquiry throughout the session
for Mexican Petroleum. based on likeli-
hood OF an improved status for Ameri-
can oil companies In Mexico, was at
tended by an advance OF 5 ~ to los. that
movement being the outstanding feature
Of yesterdays trading In securities In
the Consolidated Stock Exchange. pan
American moved up "a TO AZ and to-
bacco shares netted substantial improve
ment. In the balance OF the Industrial
list and the rails, local fractions ex-
cepted. there was a sagging tendency
until the final hour. Other feature
changes were gains of 21a in American
Wooden to II u and 2 In Famous Players
to 5s1s, and declines of In Northern
Pacific to 70h, 2 In Great Northern pre-
ferrcd to 701a and 2h in Cuba Cane
Sugar preferred to IL.
Tobacco Products rose 2TA to san,
American Sumatra az to AN, Stude-
baker ~ to 1855, Pierce Arrow pre-
ferred ~ to 2Gh. International Har-
vester / to 75, General Asphalt IL to
4iA. Houston Oil rs TO 1855 and Royal
Dutch to 4sia.
st. Paul fell 10 25, New York Gem
trail ! II 10 20. Reading TO 66As. Pierce
Arrow 1Ss 10 10h. Chandler Motors 4
70 42h. Marine preferred ~ 10 ifh.
international Paper IL 10 ~. United
States Steel to "a. Cruciblc TO 81 and
Baldwin Locomotive / u to IAN
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
COTTON SCARS ON
U. S. CROP REPORT
Low Government Figures Send
Prices Up 100 to 165 to High
Mark Of Movement.

Probably the most bullish and the low
est Federal report on the condition of
the cotton crop In the United States and
a promise for a yield of only 100000
bales. the smallest since 1892. pushed the
cotton market yesterday 100 to 165
points above its preceding close to the
highest levels of the present movement
The Department of Agriculture an
nounced the condition of the cotton crop
on August % as 49.3 per cent. OF nor
NAL. In contrast to 64.7 per cent. on July
25. 67.5 per cent. on August 25. 1920.
and an average of 67.7 per cent. for the
last ten years.
Tho release of the report at midday
was the signal for the heaviest buying
In many months, stop loss orders being
uncovered on the way UP. Prior to the
report the market was quiet, but ii
tended to go higher, due to belated short
covering. First prices were IL points
higher to 5 lower. Directly after the
call support increased. prices rising 25
to so points In the first hour. Business
was largely evening up by local profess
SIGNALS. Liverpool cables were about as
due after a sharply lower opening. Spot
business abroad was the most active in
considerable time, amounting to 10000
bales.
All interest In yesterdays market GEN.
tired on the Department Of Agriculture S
report. The weather in the belt made
little or no difference one way or the
| other. 1t was bit more favorable on
the whole. In the afternoon active buy
ing for spot house account helped to
absorb the growing number of realizing
sales. The advance carried December
up to 1871, up 15S points. and May to
1906, up 155. In the last few minutes
of business there We're reactions of about
| 20 to 20 points from the days best level,
but all in all the market held and con-
tinued strong in tone up to the final
gong.
| The close was 129 to 1876 points up
from the preceding final bids. The local
spot market was las points net higher
| to 1850.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
U. S. COTTON CROP
WORST IN 50 YEARS
Boil Weevil Causes Lowest
Condition in History-Esti-
mate 100000 Bales.

WASHINGTON. Sept. Cotton grow
ing has just suffered the most disas-
trous month in its history. The indi-
Gated crop will be the smallest in the
last thirty-three years. while its condi-
ton now Is the lowest ever recorded In
any month in the history Of the indus
try. Ravages of the boil weevil are
principally the cause of the severe de-
cline OF the crop, amounting to q loss
of 200 bales in prospective produc-
ton since last months forecast. The
Department OF Agriculture in announc-
ing to-day its forecast Of total pro-
duction of 7.037.000 equivalent 500
pound bales based on a canvass made
August 20, declared everything seemed
to have gone wrong with the crop"
An acre yield of 1877 pounds Is indi-
Gated for the country as whole this
year. Never in the last fifty-six years
has the yield been so low. The nearest
approach was 129 pounds In 1865. Only
10 per cent. OF a crop is promised in
some counties of South Carolina.
Parts OF Oklahoma will have not more
than is per cent. of crop. About one
third OF a crop or less will be produced
In sections of Texas, South Carolina and
Georgia. A half a crop or better may
be produced in Mississippi. northern
Alabama, northern Georgia and north
ern South Carolina. States on the
northern edge of the cotton belt may
have about two-thirds Of crop.
The condition OF the crop on August
70 and the forecast Of production by
States were:
Virginia, SO. 1900 bales: North Caro-
lima, So, $4,000; South Carolina. so
$4,000; Georgia. Al. $4,000; Florida,
50. $4,000; Alabama, So. 472.000; Mis-
sissippi, 81, $4,000: Louisiana, As. 244.-
600; Texas, A. 1,93s,000; Arkansas. SO,
| 10000; Tennessee. "a, 235.0oo; Mis-.
souri,. rs, $4,000; Oklahoma, 4S, 474.00O
California. SO, $1,000; Arizona, IS, A.
| 600; all other States. IS, blank.
Lower California's production forecast
is $4,000 bales, which lis included in Cali
fornia figures, but excluded from United
States totals.
| The condition on August 25 was the
lowest Of any month in the history OF
the cotton growing industry. The De-
partment of Agriculture in commenting
on the conditions said
Everything seems to have gone wrong
with the crop. In southern South Caro-
! lima. in Georgia and Arkansas and in
portions of other States excess rainfall
and cool weather have combined to give
big weed which the boil weevil in the
flush of early invasion has attacked vo-
raciously. In Oklahoma. notwithstand-
Ing heat and drought, it is worse than
ever experienced. In Texas it is the
chief cause OF deterioration.
The mild winter is held responsible
for sparing an unusual number OF Wee
wills as well as other insects, which have
multiplied beyond measure and are dew
astating the new growth in practically
all the area Of It's present range. The
army worm Is present in large numbers
throughout most of Arkansas. Tennes-
sec and north Mississippi. In North
Carolina and Virginia the long drought
has been almost as destructive as the
weevil elsewhere"
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
c. b. SEGER IS CHOSEN
u. S. RUBBER CHAIRMAN
VIII Continue as President OF
Company Also.

Charles p. Seger. president OF the
United States Rubber Company, was
elected chairman Of the board yesterday
TO succeed Samuel T.. Colt. deceased. He
win continue MS president, which office
he has held since January. 1919.
MIR. Seger was IN railroad service
thirty-six years before becoming prcsi-
dent OF the United States Rubber Com
pany. lie started his business career as
an office boy with tho Southern Pacific
Company.
From 1893 to 1904 he was auditor and
secretary Of the Galveston, Harrisburg
and San Antonio Railway. Texas and
New Orleans Railroad and the Direct
Navigation Company.
Mr.. Seger became auditor OF the Pa
cific system OF the Southern Pacific Com
pany 1t san Francisco In 1904. lie was
made general auditor Of tho Union Pa
clfic system and Southern Pacific Com
pany In 1910. In 1911 he was promoted
10 deputy comptroller, and in 1913 to
vice-prcsident and comptroller of the
Union Pacific system. lie became presi-
dent Of tho Union Pacific system in
March, 1918.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
BOSTON AUCTION RESULTS.

FURNISHED by Richardson. HUI 4 Coz
Old Colony Trust Co.. Boston. oi5.
20 dartmouth Manufacturing, 223A.
700 Pepperall Manufacturing. 1856.
10 Corr Manufacturing, 81.
~ Continental Mills. 1904
Bates Manufacturing, 1904.
American Manufacturing. 20.
q Nashua q Lowell, 102
IL Nashua a Lowell, 102.
0 Fsl<e Rubber. list pf., b0-50h.
10 New Bedford Gas a Edison 1t, GOT
paid. fi2iAec
10 Hood Rubber. ~.
$1,000 city Of Boston Is June T. 1861
$1,000 city OF Boston g.. Jan. I. 1858. reg
81.
s2a. 600 city Of Boston is. July i, 1850. reg
sG5s.
20 Gillette Safety Razor, 1if.
West Point Mfg, 1csit.
fremont g. Suffolk Mills. 1875.
Gillette Safety Razor, 1sf.
Lowell Electric Lirht. f3sis.
10 Fisk Rubber, ist pf.. 90.
Charlestown Gas, s4M.
20 Lawrence Gas. 81.
10 Fisk Rubber 1st PIE p0xs -
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
FAILURES INCREASE;
DEBTS ABOUT SAME
August Defaults 81 Per Cent.
AboUe Those in July.

Following the irregular Improvement
or preceding months of the current year.
commercial failures In the United States
In August showed an increase for the
second consecutive month. r. @. Dun
& Co. report the number of August de-
faults was SO per cent. larger than that
for July, with the expansion in liabili-
ties only 0.3 per cent. Thus failures In
August totalled 1862, exclusive of banks
and other fduciary suspensions, COM
pared with 1,444 insolvencies in July.
whereas the August Indebtedness of
s42,904,40 was virtually identical with
Sf2.774,153 for the preceding month.
Following is n comparison of the
number OF failures by months with
those OF previous years:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
ARGENTINEs BUY IN BANK.
Get stock from Mercantile Bank
OF the Americas.

An Notwithstanding syndicate
headed by Or. Manuel M. de Yriondo,
chairman of tho Banco Mercantil
Agricola do Buenos Aires. has pur-
chased from tho Mercantile Bank OF
the Americas the stock Of the former
held by the New York institution. This
Is the second transaction Of Its kind
made by the Mercantile Bank Of the
Americas, which some little time ago
disposed OF some interests K held IN
the Far East
The name OF the Buonos Aires insti-
tuition will be changed TO the American
Bank OF tho River Plate. and tho new
board OF directors viii be composed Of
mon representing important interests In
ACKNOWLEDGEMENTS finance and trade,
according 10 announcement made yester-
day.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
FINANCIAL NOTES.

The American Exchange National Bank n
exchanging permanent tho Denver Gas and
Electric Light Company's twenty-five year
- per cent gold bonds for the temporary
bonds OF that issue.
Mahler Co. OF Amsterdam Holland nre
issuing list OF Dutch municipal bonds for
distribution TO investors
- NJ: j. Hoey Co., members Of tho New
YORK stock Exchange. have opened an office
N 2u7 south LaSalle street Chicago OF
"hich Thomas u. A. Price ~ manager.
John j. and Russell u. Moore are With
Jelke, Hood q Boics, members OF the New
York Stock Exchange.
The New York Stock Exchange has etrict,a,,
gyoin It's list the provident Loan gocIetv az
New YORK "a per cent. coupon gold honda,
Interest on $4,000 600 Of per cent. gold
bonds OF 1904 OF Cuba wi be paid on prcsen-
taton OF coupons at tho office OF Sppyur
Go. @Fe'O'
The United States Mortgage md Trust
Company Will receive scaled proposals untii
noon OF September IL for the sale 10 II az
sufficient first and refundlng honda az the
pacific Light and Power Corporation dated
November 70, 1911, 10 exhaust soeo -ot ,,a,,
In iatter's sinking funds
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
NORWAY FOR MORE SEA LIMIT
Bill seeks Extension OF Territorial
Waters to Halt Smuggling.

CHRrsTrAsrA, Norway. Sept. 1.-The
extension or tho limit OF territorial
waters from three TO nine or ten miles,
az regards the authority OF customs
officials VIII be sought through a bill TO
be introduced tomorrow In the Storthing.
The presumption here is that no objec-
ton viii be made 10 this arrangement
by other countries.
II Is declared that only ships obviously
smuggling wilr be stopped for search.
Norwegian ships and motor cars engaged
IN assisting smugglers in the transport
of spirituous liquors will be conhscated.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
To the Holders of
HERSHEY CHOCOLATE CORPORATION
First Lien sAcS 1o-year Sinking Fund Gold

SINKING FUND NOTICE.
NOTICE IS HEREBY GIVEN that IN nc
cordance with the provisions of Article Three
OF the Trust Agreement OF the Hershey Choc-
olste Corporation 20 The National City Bank
OF New York. MS Trustee. dated as OF June
1870, tho Undersigned Mt It's office, 30 Wall
Street, New York City. until 10 o'clock A. NJ
on tho 18th day of September, 1921 will re-
ceive offers for the sale TO II. as Trustee. OF
sufficient bonds of the above issue to ex-
hnust the sum of S125,3fb.1p held in the
Sinking FUND.- delivery to he made on Sep
tenoer 10. 1921. when interest on accepted
bonds Will cease.
Offers should DO made subject to tho ac-
ceptanco of any part thereof AT a price n
which we win add accrued interest. and
should DO placed In an envelope, scaled and
marked Hershey Chocolate Corporation
Bonds Sinking Fund Offering" and for.
warded under separate cover 10 the TRIrsT
DEPARTMENT.
The Trustee reserves tho rich. "a raioc.
any and all offers. 1870
THE NATIONAL CITY RANK
or NEW YORK.
BY w. w. HOFFMAN, Trus, of,,co-
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
MASSACHUSETTS MILK LOWER.
Springfield Men Break Away From
Boston Schedule.

SPRINGFIELD. Mass. Sept. The
Springfield marketing committee Of the
New England Milk Producers Associa-
ton to-day announced that the septem-
Der price OF milk TO dealers will be
eight cents a quart. a reduction OF ono
cent from the August rate. The price
reduction viii be passed along to the
consumers. making the price In general
fifteen cents. as In July. In August six
teen cents was charged.
The decision marks a break from the
custom of following the Boston market
up or down and IL based on local condi-
lions. II does not mean. Il Is said, that
the local producers have left the assoc
citation.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
FOREIGN MARKETS.

LONDON, Sept. Trading was quiet
on the Stock Exchange to-day. mar
gold, 110s. ID: money az per cent
Discount rates-Short bills, az pa-
cent three month bills, Al per cent.
PARIS, Sept 1.--Prices were firrner on
the Bourse to-day. Three per cent
rentes. SO francs 60 centiuea. Ex-
change on London, a. francs so con-
times. Five per cent loan, ST francs
s5 confines. The dollar was quoted al
IL francs 20 confines.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
STREET RAILWAY SUSPENDED.

JACKSON, Mich, Sept. 1.--C. j. Holmes
OF this city. president Of the Manistce
street Railway Company Of Manistoe
Mich, announced this morning that the
railway would cease operation to-day
The system has beYn operated at a loss
for four years, sat~ Mr. HoimeA
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
$500. 900 IN SALVAGE DAILY.

WASHINGTON. Sept Army salvage
sales have averaged $4,000 day since
January 1. according TO the director OF
sales. In sale at New York yesterday
s141.0 900 was received for $4,000 surplus
blankets. All told 100000 surplus
blankets are TO be disposed OF by the
army
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02

Both as to number and amount the
August failures are well below the
maximum business mortality Of this
year. January. with 1896 defaults, hav-
ing made the least satisfactory exhibit
in point of number, and March. with
more than s67,0oo.000 involved. the
bilitics
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
REcrIvERsurp ASKED ron.

SHRFvEPoRr, La., sept. Application
fllod to-day in The Federal Court here
BY the Confederated Progressive Oil Cor
poration asks that receiver be APP
pointed for the Paramount Petroleum
Company. Inc, si0.0o0.o00 concern,
organized here more than q year ago.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
HUDSON RENTERS BANKING.
Y. Y. STOCK EXCHANGE QUOTATION
To the following prices accrued interes
is to be added.

Alfred w. Hudson has .been elected
vice-presidcnt OF the Metropolitan Bank
10 succeed the late Augustus O. Corby.
Mr.. Hudson was formerly president OF
the First National Bank OF Syracuse.
and more recently vice-prcsident OF the
semet-solvay Company In charge Of
finance.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02

Ciovernmont securities Increased. 2,6se. 900
Proportion Of reserve 10 liability, fl.go
per cent, last week. 1890 per cent
Rate OF discount. 5is per cent.
PARIS. Sept. 1.-The weekly statement
of the Bank Of France shows changes
as follows
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02

NEW ISSUE
$3,35O,OOO
The Glidden Company
First Mortgage 80 Sinking Fund Gold Bonds
September September l. 1896
Company G dse G 1 Federal sons f 1 S ~ ss % without
The Company wnnrensth the Pnnsyla
. part 1917 and acrucintaet
Union Tuco Company, CIeveand Ohio Trustee
nd for
''' par value as;5 asa ' 1 " A open market ""
Coupon Bonds Denominations R, saG 2 Ge and 500 with provisions for
Amount Authorized and Outstanding ss,s5oooO
", D. JqvsPn Of
cn e ssa T. 5s a ss "
s5 S s s s sa ss @ various paa dsps @
s5 5a 1 GSa e861G s largest the @ finishes % | % "
f 5$ E 4 a%s ~ '5 = 52 e. s:;
IL. : sss r. s ~ s s 3s
| IA aa ssS s Sao @ , ss4a sss, :
ss E: : s1;: q: e.: e: f: ; # c. 5 s;as %
m ] % s The q the Company and its subsidiaries " the 1917 1915
Net sla ls s 1873 slsSs as s 1922
Federal as Interest s saaS9 'sasz ''s''
htreda ii shueof will only
T sas .a3 dd a fs stass % @ % S 5ss @
The COMPANY. earning. for
capitalization
a,mn aono
& Z d 9 s 7a 7 5ssS share. ' ssss shares
Offer ne~@ str . o
Price ss15 Interest Yielding $3.50
Hayden Miller & Co. The Union Trust Co.
Cleveland Cleveland
Hailearten & Co. Ames, Emerich e Co.
York Chicago
e= sSsss s sSss s"s
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02

NEW ORLEANS, Sept. 1.-The lowest Au-
gust crop condition report ever made by
the Government. indicating the smallest
yield In about thirty years, created wild
market in cotton to-day and advanced prices
violently. In the ten minutes following the
condition report of 49.3 per cent. of normal,
indicating a yield Of but 1857 600 bales,
there rise on October and December
of 100 TO ITO points, or about $3.50 n bale.
The market closed steady with a net adj
vance of 40 to 1o1 points. Close-October,
1895: December. 1877 January. 1T.40;
March. 1855; May. 17.G2i. Spot, steady:
rf1idhlinr
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
LIVERPOOL.

Spot cotton active at 20 points decline:
mlddling, 10.36d. Sales, 90 900 bales. includ-
ing $1,000 American. Imports 1000 bales.
none American. Futures opened steady at 20
net advance of Al TO 40 points. October
closed 10.a5d: December, 109sd.: January,
i091d. March, 10.s7d.; May. 10.S1d.. Man
chester yarns and cloths irregular.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
SOUTHERN SPOTS.

Galveston, steady. 1875 points higher Mt tic. /;
sales 475. New Orleans, steady. 125 points
higher at 16.50c.; sales 2,150. Mobile, firm,
125 points higher Mt 1890, sales l2I. Sa-
yannah. steady f25 points higher at 1Ic.;
sales 1902. Norfolk. steady. 125 points higher
at 16.25c.; sales 500. Augusta, steady, 1873
points higher at 1Tssc.; sales 50. Memphis,
steady, 100 points higher ut 16c.. sales $500.
St. Louis, quiet. so points higher at 15.30c. !:
sales NIL. Houston. steady, i25 points higher
at 1Tc.; sales 6,oS1. Little Rock, steady,
$50 points higher at 16c. sales 2S6. Dallas.
steady. 40 points higher at 1920: sales
57s. Montgomery. firm. 100 points higher at
15.75c.: sales 80. Fort worth. steady. ii0
points HIGHER at 10 2Oc.; sales 105.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-09-02
FOREIGN BANK STATEMENTS.

IovpoN. Sept. 1.-The Bank Of Eng
lands weekly statement shows the fol-
lowing changes:
The Corpus Christi caller. [volume] (Corpus Christi, Tex.) 1918-1987, 1921-03-19

Chicken Dinner al Bid
we'll Sunday.
The Corpus Christi caller. [volume] (Corpus Christi, Tex.) 1918-1987, 1921-03-19

B RINGS and A BIG STEEL ARENA ,
The Corpus Christi caller. [volume] (Corpus Christi, Tex.) 1918-1987, 1921-03-19

TIE SUPREME ACHIEVEMENT Ia
MODERN AMUSEMENT CREATION
The Corpus Christi caller. [volume] (Corpus Christi, Tex.) 1918-1987, 1921-03-19

BIG FREE EkhIBlTloA bAlLf AZ { lHB Z Pm
The Mellette County pioneer. [volume] (Wood, Mellette County, S.D.) 19??-1971, 1921-07-22

The people of the United States are
willing to extent the time of payment
of the principal Of the debts due this
country from European nations, and
will not oppose extension of time for
payment of interest If there is
evidence Of need for such deferment.
But it will be difficult to make an
American taxpayer believe that Euro
pean nations are unable to pay the
interest If they have plenty of money
with which to pay subsidies in order
that their industries may capture
part of the trade now enjoyed by the
United States. The creditor in pri-
vate transactions Is inclined to look
incredulous when his debtor asks for
postponement Of interest payments at
the same time that he Is g%allivanting
around In a highpowered pleasure
automobile.