davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-01-28
Cotton Is Firmer
On British News
In Quiet Trading
Manchester Trade Reports
Encourage Buying and
Technical Position Is Con
sidered Much Stronger

The cotton market was firmer yester-
day owing to reports of an improving
tone in the market for cotton goods
at Manchester and Of better demand
for low grade cotton in the South.
After selling at 14.85 early, May re-
acted to 1865, but later advanced to
14.97 and closed at 1896, with the gen.
eral market closing steady at net ad-
vance Of 20 to 81 points.
Trading was generally quiet and the
advance reflected firmer technical po-
sition following the decline of about
to 21zc pound from the high prices
of two weeks ago, as we'll as the more
encouraging character Of the British
trade news.
According to local brokers there was
no improvement in the export demand
for spot cotton, but domestic mills are
more active, and there was probably
some buying for that account.
Southern spot markets, as officially
reported, were unchanged to 65 points
higher, the gains being in the rela-
lively low price markets of the South
west. Middling quotatio now range
from 1915 to 1900. According to local
spot people it would cost about &c per
pound to bring cotton here from the
Southwest for contract delivery.
The local market for spot cotton was
quiet and SO points lower at 15c. No
sales were reported.
Tho range of prices follows.
New-York tribune., 1921-01-28
Cotton Leads in 1920
Exports of Commodities

WASHINGTON, Jan. 27.-Cotton ex-
ports last year exceeded those Of ony
other comm odity, according to review
Of foreign trade for that period made
public to-day by tho Department of
Commerce. Shipments of the white
staple were valued at $1,136, ,40S,316,
as compared with $1,137,371,252 the
year before.
Exports Of breadstuffs were valued
at $1,o79,085, 1888, as against s920,3o1,-
977 in 1919. Cottonseed oil exports
totalcd s24,S74,790, decrease from
the 1919 total of $40,s90263. Mineral
oils were valued at S549 ,348,84o, as
compared with sS43,e73.4 .432 the year
before, and meat and dairy products
dropped from S1,16O,643, 1876 in 1919 to
$544,074,050 in 1920.
In December cotton exports we're
valued at $92,385,393, compared with
$1so,64S,27s in the same month the
year before. Exports of breadstuffs
during the month were valued at $685.
237,6O3, while the same month a year
ago they were $55,775,989. Cottonseed
oil exports increased from $2,381 ,277
in December, 1919, to s5,10 ,410 last
month. Meat and dairy products ex-
ported in December amounted to $751;
866, ,131, as compared with $63 ,397,
and mineral oil exports rose from
$50, ,227 ,055 in December, 1919, to S62,-
447, ,1A7 last month.
New-York tribune., 1921-01-28
New York CITY Bonds
New York State Bonds

Issued In coupon and registered form
not interchangeable. Coupon bonds regis
New-York tribune., 1921-01-28
acknowledgements,
ChOCkEK BROTHERS
NOTICE

NOTICE is hereby given that the unaer.
~knso nave formed q limited Dartner,hin
unasr the name OF CROKER ERCTHEpa
sgItn w principal place of business In ,hs
sgofcugh os Manhattan, City Of New Worry :.
.nas inc general naturs Of In. hunines. IN .
ssnasd TO be transacted by saia arm IL a
Esnsfai commission and rnerchana,aln -
DnEnsss In ifoa. othel netais and ,ner
..nnAhGcsne. The names and res!dences y,
tns General Partners are D. isairfax Busb
gIooxvlsie, Nassau County N Y W.
,ssSssc' fsinam Manor, Wes,chester County
-. 4; geo. A. Crocker, Jr. Oyster nav
1nssau County. n. r.: J. Bentley cusnayn'
5nsloomneid, n. j.; Charles II, Newc"mh
yeIAantown. Philadelphia, Pa. ana Uar,
1eIL r. Topp, Cincinnati, Ohio. ana ,hs
IsTss tro Addrcss OF the spccist Partnsv
LSe~ = Cxocker, Mt. KtAco. Westcheste,
of fuii age Tho amoun, f Of ad.nfrs s,s arc
which sssd Leah II. crocksr. gpscia, pas,s
ncr. has contributed to the f,ornnyonn atnrt-
cs said partnership fs Tf,yee Unndrsn ,rsmS,
sand O5oo. oeo) Dollars ia aetuai cs.t,
The ene st which said parfrerahin tss,n.
- January 5rd. 1921, and tho tt,ras 'ns = :
whtoh u - 70 end DeceYnbor aist 1asp ~
Dated December 2sth, 1879 A'~A'
d. FAIRFAx nryau
WM. DETTE.
=; xbENTLEY cUEAAN.
CHAg. ~ NEWcOMB.
HERBERT r. TOrP
General Partners.
LEAH n, cHOCKER.
- spAciAt Partner.
New-York tribune., 1921-01-28
Cerro de Pasco and Midvale Steel

-, Question-Your valuable information on
the following stocks will be greatly ap-
preciated: Cerro de Pasco, Midvale Steel,
American Hide and Leather preferred
What Is the par value OF those stocks and
what Is the general condition of the COM
panies?-J. j. b.
Answer-Cerro de Pasco copper has
shown considerable decrease in pro-
duction of late. In December it was
reported that the company was oper-
ating at rs per cent capacity. All its
metal was not sold, due to the high
demand and low price. The company
recently sold $8,O0o,00O 8 per cent ten
year bonds. At the time of sale the
president of the company stated that
it was estimated net income for 1920
would be not less than $4,000 900. This
would be the equivalent of slightly
more than 81 share on the capital
The stock has no par value. Midvale
Steel, for the laarter ended September
80, 1920, showed the equivalent of 4.45
per cent, or $2.22 share. The par
value is $50. Dividends of per cent,
or $4 share are paid American Hide
and Leather has not been earning the
preferred dividend for the last three
quarters. 1t is very probable that
it will be passed at the next meeting.
soon to be held. The par value. is
$1O0.
New-York tribune., 1921-01-28
LIMITED PARTNERSHIP
THIS is TO CERTIFY that the underyi

THIS is TO CERTIFY that the undersigned.
oil persons OF full age. have formed
limited copartnershp pursuant to the pro-
visions of the State Of New York and that
FIRST: The name of the firm under which
said copartnership Is to be conducted 10
WILLIAMS. MOREHOUSE g. COMPANY,
and the County in which the principal place
OF business Is to be located Is New York
SECOND: The general nature of-the busi-
mission merchants in hosiery. underwear and
kindred lines.
y, THIRD: The general partners arc Ed
WARD H. WILLIAMS, of full age, residing
at zoos Renson Avenue. Brooklyn, New York
and HENRY B. MOREHOUSE. Of full age.
residing at Darlen. Connecticut. The special
partner Is the Estate Of CAMPBELL. b.
CARM1CHEL, late OF 625 Lenox Avenue
Westfield. New Jersey.
FOURTH: The amount Of capital which tho
special partner has contributed to tho COM
non stock Is Twenty Thousand (:20, 900 .o0)
Dollars.
FIFTH: The copartnership is to begin tho
drst day OF January. 1921, and Is to end the
list day OF December, 1921
IN WITNESS WHEREOF, tho parties
sboye mentioned have hereunto severally
ubscribed their names the 2sth day OF De-
AMBER 1920
HENRY B. MoREHoUsr
ESTATE OF
CAMPBELL B. CARMICHEr..
ANNA B. CARM1CHEL, Execu-
trix and Trustee
, EDWARD H. WILLIAMS
New-York tribune., 1921-01-28
FINANCIAL NOTICE
To the Holders of Dominican Republic ~
Bonds. Issue OF 1918. Due 1888.

To the Holders of Dominican Republic -
Bonds, Issue Of 1918. Due 1888.
Ia accordance with Executive Order 80
sealed proposals. will be received by thV.
Secretaria dc Es+ ado do Hacienda Co
mercio until 10 clock A. II. OF February
March l. and april /. 1921, for tho pur
chase for retirement OF bonds Of tho Do
mtnican Republic dated January /. 1917
due 1888, without regard to series, to al
amount estimatgd At THREE IUNpRE3
AND TWENTY THOUSAND DOLLARs
&320Q00) on each OF the above dates. T.
total for all three dates OF 100000. An
proposals shall be submitted in triplicatt
and shall specify the number of the bonds
offered. the series, the par value and the
price at which offered and shall be signed
by an on1c!al duly authorized to act fol
the bidders. Upon the outside Of the
appear the words "Proposals opening %
------------- lnll in date). Said proposals
WILL be opened in public in the office OF the
undersigned on February /, March ] and
April I. 1921. unleas such dates fall upon Z
Sunday or legal holiday in which case the
BIDS will be opened on Che following day.
Arthur II. Mayo,
Lieutenant Commander (SC), u. 8. NJ,
Omcer Administering tho Affairs Of the
Secreterta de Estado de HaceDdA Co.
mercio for tho Military Government.
New-York tribune., 1921-01-28
Doubtful About Varid Holdings

Question: hold the following securities
and purchased them at given prices. Kind
ly inform me which you would keep and
which dispose Of Also. If you would dis
pose Of any right now or wait until the
market Is better: Twenty-Five shares Phil
adelphia Company cumulative preferred Z
per cent. purchased at $30-S35; 20 shares
American Drug Syndicate, at 81; IS
shares Oklahoma Producing and Refining
Company, at IS per share; 20 shares Penn
sylvania Railroad common. purchased at
$50 per share; 20 shares Midvale Steel and
at$49; shares Armour Leather preferred
per cent; at 500 per share IA shares
Armour Leather common stock, at $1b per
share; 25 shares Fidelity Oil Company OF
New Jersey at 81 per share; bond United
Railway Investment per cent purchased
for $3.50; shares Lambert Tire and Rub
Der Company, a present.-E. S. w. 4
Answer-With the exception of
Armour Leather preferred and possibly
the United Railways Investment bond
your securities are not entitled to
good investment ratings. The Tribune
does not attempt to give advice on
speculation, therefore, you will have
to determine for yourself what is to be
done with most of your securieties.
The two securities we name are fair
while Pennsylvania Rail-
read stock is good of its class.
Erie Common Far From Dividend
Questlon--What do you think of an
Erie Railroad bond. common stock ?-H f.
Answer-Ere Railroad common stock
is preceded by so many other securi-
New-York tribune., 1921-01-28
=. GUSTAV v. LANG
ATE OF FORMATION OF LINZ,
TIED PARTNERSHIP

AS. The undersigned desire to
.sea cps, partneSshlp II, Wd.lI pursuant to the
ef ~. GUSTAV V. Lang;
aEREFoRE. We. the. under
uant to the laws Of the State
FPe name Of the firm under
t.J. GUSTAV V. LANG" and
wherein tho principal place Of
be located ls the County of
Borough OF Manhattan, City
New York. The undersig ned
no that they are the only per-
of ]. Gustaf v. Lang. and who
Zeal under such name.
~ The general nature of the
attended to be transacted by such
zip Is that OF commission Iner.
10 purchasing andNexport agents
ot Tho name and place Of resi-
the general partner in this part
Who g. dusrhP = 8 fdl' e. vsf; LING + e. follows
$50 Riverside Drive,
New York City.
WRTH: The name and place Of resi-
OF the special partner IN this part
' "A' ANA + 'qs. K. Ia; IaNa. e a" f0ll0wS'
$50 Riverside Drive.
FIFTH: The amount Of capital wbich
n,s,s Anna r. Lang, the special partner. has
thousand 10000 dollars in cash cash. 'l'
sthIH; The time at which such special
@Anuary 1921. and the time at which the
Sec..eh Shsa'p is to end Is the 3lst day of
IN wITNEss WHEREOF, we. the un-
cer1msnsd, o1 the said J. GUSTAV v. LANG
ana srsi,y ANMA m r. LANG. have hereunto sew
The so,h set e our hands and seais, all as Of
ss'efaily acknowledged this certificate.
!. axNA xSNygrAT & : Y ~ LANG &. g
q. PETERSON.
New-York tribune., 1921-01-28
United Auto Stores Speculative

Question--Would you kindly advise q
novice about the following investment? I
have $1,000. all my savings. now in bank
and have been advised to put it In stock
OF United Auto Stores. chain store
company, with executive office in Phla-
dclphia. unit Of stock is one preferred.
800, and one common. s3S. total. $138.
Please let me know if this is a good in
vestment.-A X. S.
AnswervIf you wish to invest your
life's savings-that is, to put the money
IN safe securities-we would advise you
to purchase bonds or preferred stocks
having greater marketability than
United Auto Stores, which in its pres
cnt stage of development must be con-
sidered highly speculative. Liberty
bonds yield higher tnan per cent,
and there is not ing safer. Other good
bonds and preferred stocks on which
banks Wi > Money wn ch can
be easily disposed Of in times Of need
yield as hign as or even Z. per cent
Unless you can afford to speculate
don't buy speculative stocks.
New-York tribune., 1921-01-28
Sharp Recovery
In Wheat Prices
On Active Buying
Market Believed Oversold.
Values Advance Quickly
as Shorts Cover; Break of
Sc Precedes Late Advance

Price changes in the wheat market
yesterday were feverish over q wide
range. During the greater part Of
the session the market displayed q
weak undertone, and at one time values
were down 44c to SIC from the pre-
vious close.
During the last hour. however, the
market rallied rapidly and values more
than regained the early losses. closing
with net advances for the day of 1ac
to 1Ac.
At the low point values were down
13c to 14Ac from the high Of Mon
day, and showed losses Of 2515c to
277ac from the high Of the month.
There was heavy selling, and sentiment
was bearish on the theory that Amer
ica for the rest of the eason would meet
sharp competition from the Southern
hemisphere. The market was evidently
oversold on the break and when shorts
attempted to cover, prices advanced
with great rapidity.
In the local cash market No. 2 hard
was quoted at $1.91 and No. 2 mixed
Durum $1.S7 c. i. {. New York to ar
rive
The range of prices:
Open. High. Low, Close. Gloss
March,. 1.62N 1865 1.5s% 1.641a 1.63A
New-York tribune., 1921-01-28
Considers High Yield Issues

Question: desire to know your opinion
as an investment OF the following COM
panies. or which, In your opinion, to be
the best issue: Pennsylvania and Ohio
Power and Light Company ten-year per
cent secured sinking fund gold notes. due
November /. 1890. being offered at SO and
ison Company (Readng. Pa.) refunding
and improvement s per cent gold bond
series A: due November I. 1895, price
95.25 and interest.-A. B.
Answcr-The two public utility
bonds you name are. fair only, in our
opinion. The fact that the yields are
we'll over per cent shows that they
are not entitled to very high ratings.
panies operate in growing fields, and
if you are determined to obtain a high
yield perhaps these issues are as good
as anV.
New-York tribune., 1921-01-28
TO THE HOLDERS OF
THE DOMINICAN REPUBLIC
so Customs Administration Sinking Fund
Gold Loan Bonds.
NOtu LOAN DOIiUS,
DUe Fph-uary l. 1853


NOTICE Is HEREBY GIVEN that Guar
anti Trust Company of New York as Sue
o~ssor to Morton Trust Company, Fiscal
Agent under the Fiscal Agency Agreement
made by and between The Dominican Re
public and Morton Trust Company, dated
January II, 1908. hereby invites proposals
for the sale to~the Sinking Fund on Fehru-
ary Tth. 1921, with accrued interest to that
date, of as many bonds OF the above issue
as can be purchased for the sum Of TWO
Hundred Fifty Thousand Dollars f25c.0Oo).
Sealed proposals will be received AZ the
TRUST DEPARTMENT of the undersigned
14o Broadway, New York City. up to ~
o'clock A. NJ. on Friday, February 4th, 1921
when the same viii be opened. and bonds
offered at the lowest prices not exceeding
1929 % Of par and accrued interest to the
extent necessary to exhaust said sum, VIII
be accepted, subject TO the reservation OF
the right to reject any or ali oners sn
whole or in part.
GUARANTY TRUST COMPANY
OF NEW YORK.
BY CHARLES H. SABIN. President.
Dated. January "a, 1921.
New-York tribune., 1921-01-28
Hesitates to Swap Libertys for Stock

Question: beg to inquire about invest
ing in the Permanent Mortgage Corpora
tion. 80 Court Street, Brooklyn. I am in
formed by a good friend it is very con-
servative. They told that this corpora
ton took in Liberty bonds at their full
face value for shares in the corporation.
This made skeptical right there.
went to 80 Court Street to about 1t. 1t
turned out TO be true IN regard to Lib.
ertys, and. OF course, like in all cases OF
this kind everything IS sound and safe.
What I want to know is, IS this corpora
ton, IN your opinion, safe investment for
a man with little money to lose? Would
you advise to buy shares in this corpora
ton with Liberty bonds at their face value,
as stated? Through my devotion during
the war I bought quite number Of Lib
ertys and paid cash. good and cold, for
same, seeing them for two years decreas-
ing In value But am not kicking One
can do worse. Par value of this stock $40
a share, now selling at about s1S.25
share.---J M. D.
Answer-We advise you not to ex-
change your Liberty bonds for stock in
the Permanent Mortgage Corporation.
Taking Liberty bonds at par is hardly
fair to those who pay cash, for it
amounts to discount Of more than 10
per cent.
New-York tribune., 1921-01-28
Break il, Rnso Sugar
Near Seasons Lo,p

Yesterday. Year ago.
eS6ss cofss. So. Ss5an9'ft' Ris lo 7sS 70 1So5ss
Conee, Santos No. 4...... 9%o 24c
Raw sugar sold to within fraction
OF the lowest point reached in De-
cember when sales of Cubas were made
at 33s cents, cost and freight. Porto
Ricos were sold at 4.s0 cents, cost, in
surance and freight. Buyers acted
with more caution. New low ground
was reached in futures, which closed
at net losses of 16 to 21 points.
The range Of prices:
The range Of prices:
New-York tribune., 1921-01-28
Corn Prices Irregular
After Early Decline

The corn market was lower, with
prices early in the day down about R
cent a bushel to new low records for
the season. There was little dispos;-
tion to buy heavily, and, although
prices rallied from the lowest, closing
quotations we're nc net lower to Nc
higher.
In the local cash market No. yellow
was quoted at 84c and No. mixed at
83Ac C. i. f. New York, ten days. ship
ment.
Yesterdays Previous Year
No. 2 yellow. .so.s4 so.s4N sl.ssN
Chicago:
Saiy May :::::: ] :ssx 81 ~ ~ 49, 4.ss "a
Gats-Price changes were feverish as a
result Of the action Of wheat. but there
was little in tho situation to attract new
business and at the close prices were but
= In n the local cash market NJ white
was was quoted at b5@g55'Ae: Ne. white;
white, 5l@511ac: fancy clipped white.
53c ordinary clipped white. 631a @54c;
all elevator.
Yesterdays Previous Year
No. white SO @.5sh SO @.5sM SOL
Chicago:
4nlyy M4aly '-'..... - ~: ~: ~ ..ssss7s
Rye-Easy
Yesterdays Previous Year
New York close. close. ago.
No. Q Western.$1.79l $1S1h $1.So
Flour and Meal-Quotations were:
Now York:
Yesterdays Previous Year
close close. ago.
$500 1880 s9.oo@o.5o si3.5o@14so
Cornmeal:
195@215 1o5@2.15 a.s7h
Rye 9.O0mo.4o 9.OOGD9.5o $500 90
Bran $500 $500 49.O0@52.00
New-York tribune., 1921-01-28
FINANCIAL
CENTRAL PACIFIC RAILWAY COMPANY
Three and One-HaH Per Cent.
Mortgage Bonds

=, Notice is hereby given that. pursuant to
the provision of Article Nine of the mort
pany to the United States Trust Company
of New York Trustee, this Company has
1t from the lines of railroad therein mort
gagged the sum of Twenty-Five thousand
dollars, and that bonds issued under said
mortgage will be redeemed Herewith.
Bids are hereby invited for the surrender
Of such bonds at prices to be named by the
Sinking Fund.
=. Such bids should be presented to this
Company at its office, 165 Broadway. City
OF New York. or Before March i, 1921,
at twelve Q clock noon and should be en-
dorsed Bids for Surrender Of Central
pacifc Railway Company Three and One
Half Per Cent. Bonds"
CENTRAL PACIFIC RAILWAY CO.
BY WM. II. HERR1N. President.
Dated January g. 1921
New-York tribune., 1921-01-28
Twin City Rapid Earns
So. 50 a Share in Year

Net income. after charges and taxe''
of the Twin City Rapid Transit Com'
pany for the year ended December o.
amounted to ss99 ,o99. equal after de.
ducting preferred dividends. to s3.os
share earned on $4,000 900 common ~
stock, compared with $7sS,S52, or $40
share, the preceding year. according
to a statement issued yesterday
Net revenues, after taxes, showed
s2,0S0,065, an increase of sl5s'oao'
while the surplus amounted to $lss,Vss'
an increase of S100'T4I.
New-York tribune., 1921-01-28
ties and IL so far from a dividend that
we consider it pure speculation.
General Electrics Rank Hikh

Question-Kindly give me your opinion
Of the following bonds and the rating In
order an investment: General Electric
debenture IS. Pennsylvania rs. Westing-
house Electric 7s Chesap peake & Ohio con-
vertible IS. Could you suggest any better
bonds for investment M. *. n.
Answer-All these bonds are entitled
to good ratings. We place General
Electric debentures first because that
company enjoys the highest credit and
after Which come Pennsylvania 7 per
cent, Westinghouse z per cent and
Chesapeake & Ohio convertible per
cent. The last are not so we'll secured,
although the road is good one and we
regard the bonds as safe. You might
consider also Northwestern Bell Tele-
phone Z per cent 1871, Denver & Rio
Grande first per cent 1885 and Rio
Grande Western first 4 per cent 1889.
New-York tribune., 1921-01-28
Big Canadian Rail Deficit
Operation of Roads Costs Gov
crnment 500. O.OOO. 600

OTTAWA, Jan. 27.-A deficit Of about
$60,000,000 as a result of last years
operation of government railroads is
disclosed. it was announced to-day, IN
figures now being complied. The pre-
vious years deficit was S47,000,ooo:
The increase is attributed mainly se
higher wages and deferred mainse-
nance costs. Increases in rates, u wss
said, have been more than taken up Dy
higher labor charges. The report M
cludes operations on the Grand TRUNK
Pacific.
New-York tribune., 1921-01-28
To Hear Government View

WASHINGTON, Jan. 27.-The House
Agricultural Committee decided to-day
to hear next Tuesday a representative
from the Department of Agriculture be-
fore reaching final decision on bills to
regulate grain and cotton futures ex-
changes Clifford Thorne, of Chicago,
representing the American Farm Bu--
reau Federation, will be cross-examined
at that time also.
New-York tribune., 1921-01-28
DIVIDEND NOTICES
LIMA LOCOMOTIVE WORKS. INCOR-
POKATED,

so Church Street New York,
December 30th. 1920.
The Board OF Directors has declared O.
quarterly dividend OF ono and three-quar-
ters 1A%) per cent upon the Preferred
stock OF this Company for the three
ITai Inontns ended December 81. 1920, payable
at the close OF business on January IL.
1921. Transfer books do not close.
l.. A. LARSEN,
Vtce-President and Treasurer