davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
Stock Prices
Again Lower;
Losses Small
Average of Thirty Indus
trials Says to the Low
est Point of the Year:
News Called Adverse

Yesterday WAS q day of declining
prices in tho stock and commodity
markets. At the Stock Exchange hopes
Of technical recovery failed of reali
cation and fresh liquidation, combined
with professional bear pressure, force d
many representative industrial shares
into new low ground. The heaviest
selling occurred in the forenoon. al
though there was a removal of the
pressure in the final hour which pre-
vented rally at the close.
The average price Of thirty leading
industrial stocks used in compiling
The Tribune's daily tables closed at
62.72, new low record for the wear.
At its present level the industrial share
price average stands less than points
above the low record of the postwar
period made last fall Railway shares
succumbed to the general selling pres
sure, but the declines here were not
large. The prospects of an early
enactment Of the relief legislation for
the railroads were helpful to sentiment.
The weakness in the market yester-
day was not confined to any one group of
industrials, but extended to practi-
cally all of them. Among the oils
Mexican Petroleum, Pan-American
Petroleum and Sinclair were pressed
for sale at sharply receding prices. Of
the equipments Railway Steel Spring.
Pressed Steel Car and American Car
and Foundry were the notable spots of
weakness. Among the other issues
which gave way for substantial losses
were General Electric, Sears Roebuck.
Texas Company, Virginia. Carolina
Chemical, Westinghouse Electric,
United Fruit and Columbia Grapho-
phone.
Speculative sentiment was adverse
ly affected by the Washington news
on the taxation program, and this
doubtless stimulated some selling. Ac-
cording to present plans Congress is
to defer one year the effective date of
the repeal Of the excess profits taxes
and the reduction in the burdensome
surtaxes. If the legislation is enacted
IN this form business Of the country
will not have relief from these tax
burdens until it comes in 1928 to nav
the taxes on 1922 incomes. It had
been expected that the changes would
be effective during the current wear
and therefore the latest development has
come as shock to the financial com
munity.
German exchange. which has been
weak for several days. declined again
and marks broke to los, new low + r.
the year, recovering at the close IN
l11h. Exchange on London was s'so
lower, while francs eased of On lion
dealings. Call loans renewed 1T G
per cent and this rate was maintained
throughout the day In the grain mar
ket wheat prices declined sharD.y
while cotton prices were slightly lowc~
at the close.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
Amateurish Short Selling

Despite the fact that the present mar
ket seems to go down much easier thar.
it goes up good judges Of the trend be-
lieve that the short interest Is bccor-
ing SO large that if definite turn for
the better in the business outlook
should suddenly take place a good
many of the shorts might have an un-
comfortable time getting out without
mourning substantial losses. AS one
broker put it, there is a good deal of
amateurish short selling now taking
place, and the strange part of it is that
the sellers for the moment are having
everything their own way. Just as at
the end of bull market the public is
usually left with the stocks, il appears
that the public will be short of the
market up to their necks when the up
turn starts"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
Two Banks Protest
Stock Assessment

NEWBURGH n. Y, Aug. 1e-Ths
Quassaick National Be K ard Highlan@
National Bank have filed protests with
the local assessors against placing
their ban~ stock on the assessment
rolls, it was learned to-day.
The banks base their objections CT
the assertion that while the state and
Federal laws forbid assessment on
bank stock greater than that against
ether moneyed capital. rhe state n
come tax law, imposing a ia on earn
ings. exempts capital other than ban,
shares from state and local assess
;aents.
The effect OF this is. It is ~lainied
by the banks, that moneyed capt;
other than bank stock pays only PR
cent on earnings while bank stock
pays in assessments 1 per cent on the
whole capital.
Newburgh's assessment roll is about
S2b,00o,ooo OF which the oank stock IS
down for 81 900 .OO0
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17

The decline Of the last week has
brought out steadily increasing mum
Der Of margin calls, and market observ-
ers yesterday insisted that large part
of the selling could be attributed to
liquidation Of course, those selling in
anticipation of a decline still controlled
the situation, but it was asserted that
in many instances holdings were being
reduced or collateral was being sold be-
cause of defaulted loans. Just what
proportion Of the total business could
be laid to liquidation is question, but
it may change the opinions of some
traders.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17

Although dispatches from Washing
ton yesterday indicated that the rail
relief measure may be hurried through
the present session of Congress after
all, the railroad stocks fail to respond
to what ordinarily would have been
considered the best kind Of market
news: This probably was due to the
belief here that little will be done m
Til the December session DESPITE the
good intentions of President Harding.
As matter of fact many observers at
tribute the present apathy of the mar
ket to the delay Of Congress in putting
through constructive measures.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
Air Brake Meeting TODAY

Directors of the New York Air Brake
Company are scheduled to meet to-day
ana IN view of the fact that business
has shown little if anv Improvement,
since the board met last Nav it vii
be interesting to see what dividend &C
ton will be taken. In May no DIVIDEND
was declared, and at that time Presi
dent Starbuck announced that it hac
been decided to reduce the annual rate
from 10 per cent to per cent. The
21e per cent dividend. paid March rs
1871, it was stated, covered the first
SIX months of the year, and mo furthe,
dividend will be declared until August
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17

Bid Asked Bid. Asked
4 4 IN %" ssps9 1851 g. 81 S5s' 81 9F pr .
An } B"R No ss So ssa % s' Bs ~as" lsx $
Am Rsst ~ pr 80 g e Dol Hud 1se 7 7Ss
G 4 r pr.lOs n 1885, bet Edison - IS 90
Am leo pr. coz 81 do pr 49,. 50
A ll liz Pr pr IS IS Diamond MOO li00
An Mal; & q ]l% i D $ & A.
Am smelt pr s9N 70 P" "l,, sap:. - Z
Am sum Snp" pr pr .s 90 East st Kodak. $50 ess
Am a." WI vi pr g. % % q El co St Nat i I5 12o
Am Wool pr. 95 81 flIlon Coal. |, l7h
Ann Arbor r.. 40 pr ..... 80 80
do pr ..-- II rni Brant 49,. )
Asso I Dw e. a., "a Endi John rr 95,s .
90 l IS pr ssS$A g. E Fan MPay pr rs so
At BIZ & A. 2sl Is. Fisher Body. 81 $
HG&w i list pr X II Gen 'ror pr s. ico
do Or 'ios i0s GnlnaAd o DR. 80 d
Atlas Tack . lax 10 Guam Sugar. s'a 81.
Austin Nichols Sl4 ~ Cuff Nj & n. .ol1 10
Barnett Lea. Al s. Hartman Corp 60 20
u &c, 40 pr ~ s6 licndse Mtg l3r3 u
Barnsdall A.. ~ % home Mine 5jL 50
u . uo = l5A II liy'rauic ST. ~ ~
BC , iTisl - "a = i ln Ass4d IT,. " ~ q.
pm tr Gas ga 50 Int liar pr. a7is l0l
Brown Shoe. - a71k NJ r lst pr O. 20
- do pr ..... - S3 do ID pr. 5SA 6i
Hruiswfck . ~ ~ Int Sali .... Az d0is
Bun a. r. 81 10 Town Central
- 10 pr $3.50 II .orcs TEA. l7la 1874
Bun Sus.. IS iN'FS&M pr. 60@.
90 pr ~ khvser J ~ S5
burns Bros SO - do ist pr. a5H MS
- N, pr .....lOp lis Kelly Spr pr 70 SO
ltush FARM. 100 * pc pr ijia 79H
~, soii,ne... i2'4 ll1h Kelsey Wheel 80 70
' r"~o ri, j %. pr ~ n Kcof & d NJ 10
do "a pr. 20 tSrcsgo - 6, < ~ ,qr
Chl & Alton. a. 81 40 Or 100
40 ..-.. II 1.rase q ~ * *
< y M. y IL do pr 81
DO pd .... ~ iisir.aE, i & ~ IN IL
do pr .. w ~ ~ '" 10 80
= cnl T. - w Or ,d l9As Y Lgc 4 NJ r. lis i5i
'lu&p7 De pr 75 70 to !, 10 "a
J. NJ 4, 0 * IS Lima ioco e9n 90
g G & s l. a714 40 r.Wv biscuit 40 -
40 pr ..... go no lst mr. a. o.,
81 Ptts hsis GA. do "a mr. =, ~
tusli FcAb. ~ IL 1ofnfnri :, - :
10 pr .. ~ de- mr. ia a.,
G & s 1T pr ~ "A Narhap ,,' n,a. ~ ~
do "a ur A. t5ia Ia NJ N'''' p'7s ~
CON 'ignr ur 81 II Man Goal a2o IA
Cont Can pr B2H 10 Naliinsn ~
S'''' A"s W. ~ " ID ~ 49,. 54A 10
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
Freeport Texas Net Lower

For the six months ended May 81.
the Freeport Texas Company reported
net income, after expenses but be-
fore taxes. depreciation and depletion,
OF S2ls,s66, equivalent TO - cents a
share. earned on the 100000 shares o.
capital stock of no par value, con-
trasted with S7Ss,t92, or STAT a share.
earned in the cores spending period OF
the preceding year. Net profit from
sales amounted to S2lo,94e, against
S733,96S. Gross sales totaled Sl,606.-
1868. compared with $2,225.375.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17

Republic Iron and Steel is now under
stood to be operating its plants at
about 40 per cent Of capacity, against
low Of approximately Is per cent
in the second quarter and an average
operation of rs per cent In the first
SIX months of the year. This bit of
information made public in the Street
yesterday, however, failed to encourage
any important buying of the stock.
which, along with the rest of the in
dustrial list. was heavy throughout the
stock market session.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
Below June Low Levels

A decline of more than y point in
thirty typical industrial stocks used
by The Tribune in compiling it's daily
averages carried the composite figure
INTO new low ground for the year at
02.73, as against $3.50 On June 20. The
average at the close Monday was a
tribe below the June mark at 1888,
and yesterdays sinking spell caused a
defnlte break into new low ground.
Chances at stock prices of year ago
snow some interesting changes. Bald
win shows decline of more than 40
points, American Sugar is some So
points lower, while U. s. Rubber, Cen
trail Leather and Mexican Petroleum
show enormous declines. On the other
hand, Studebaker and a few Of the
rails are higher.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
Brokers Want Triple Holiday

Brokers on the floor Of the Stock Ex-
change began circulating petition
yesterday that the exchange be closed
or the Saturday preceding Labor Day.
In view OF the present dullness of the
market, the indications are that the
governing committee viii grant the
petition, although formal action will
not be taken for a week or two.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17

For the six months ended June 30.
Lott Inc, reported net profits. after
charges but before Federal taxes of
$933'3z3, equivalent to 81 cents a
snare earned on the $50, COO shares of
pared with $7O6,704, or $1.0S n shere
earned in the same period Of 1920 M
sales totaled $3,124,476. au,;nst
$3376.6S1. e"'.'9V
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
keystone Telephone Earnings

The keystone Telephone Company re-
ported ret earnings for July of S59,-
ava, compared with $43,172 in July.
is2o; and for the seven months $685.
64S, against $685. in the correspond
ing period of the preceding year. Bal
ance available for dividends. surplus
and reserve amounted to S1S,S35 for
July; and for the seven months S58,7Ql.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17

MANCHESTER, Eng, July 20 (By
Mail The Federation NJ Master Cot
ton SDinnerS Annexation has decided
70 increaae work In mills using Amor
'can cotton " thjrty-hvc hours wcckly
against the present mort ,imc ~
twfn'y, fraT honse. nc milis ueiny
EEyptiHn cotton WIN lInmcdiateiy re-
same tnll tlnp working.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17

PARIS, Aug. 16.-Trading was very
quiet on the Bourse to day Three per
cent rentes So francs so ccntimes; ex-
change on London ~ francs IS CEN
times; five per cent loan 81 francs 45
centimes. The dollar was quoted at i 9
francs SO centimes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
G quotations on stocks were:
Germans Fail to Get q. S. Loan

PARIS, Aug. 16.-Negotations for a
loan in the United States of $50, 100000,
which have been carried on by German
and American fnanciers, have failed.
says Berlin dispatch to the Paris
edition of The New York Herald.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17

Bank Ciearings - Bank clearings at
New York yesterday were: Exchanges.
S642,5oo,o0o; balances, 5000 900.
Silver-London. SD; New York, do
mestic bar, 99hc; foreign, e1Ac; Mexi.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
London Market Dull

LONDON, Aug. 1s.--The Stock Mar
ket was featureless to-day. Bar gold
was quoted at 112s 4d; money was
loaned at 4 per cent. Discount rates
were: Short bills, AS per cent; three
months bills, as per cent.
Closing quotations on stocks were.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
New Financing

1t is the opinion of competent in
vestment bankers that the market is
not likely to be called upon to absorb
any great mass of new financing in
the months that lie ahead. While pos
slbly Cuban loan may be arranged in
the fall, and some South American and
European commitments may be lined
up, it is not believed likely that the
market will be glutted. Corporate Dor
rowlngs are pretty we'll taken care of
Tor the. time being, while if the rail-
road relief legislation goes through ac-
cording to schedule the railroads are
not. expected to do much borrowing
during the remainder of the year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
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. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
Money and Crea;y

Call loans renewed at per cent On
the stock exchange, this rate holding
steady all day. Time money in small
amounts was loaned at per cent
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
La Wall Street
Bears Always on the Job

at seems to me-" observed a banker
yesterday, that the bears of the stock
market never take day off TO play
golf. The bulls on the other hand seem
to be away most of the time"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
Record of Stock and Bond Averages
Stocks

Copyright. 1921. Inc)
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-17
Transactions Yesterday ia Listed Stocks
Summary of Stock Exchange Dealings

Copyright New York Ino.)
The New York herald., 1921-11-22
HELP WANTED-MALE.

BILL clerk. Christian; hours A. NJ. to 4
p. NJ; chance OF advanceUent. 421 W.
14th st.
The New York herald., 1921-11-22
Instruction.

AN INDEPENDENT income IL assured vii.
fred Graduates OF Hair and Beauty Cul.
ture. Day evening classes. Can, write
wilfred Academy. i33 W.. 44th. for hoax.
LET n.
EARN $50 weekly through Prof Bohrer' 4
famous Hairdrcse, Manicure, Beauty
school, iip w. s2d IT.. or brooklyn, is gth
av. Newark branch. SAT Broad st. Circular.
The New York herald., 1921-11-22
Instruction,

Conditions point to an enormously in
creased demand for traffic experts
within the next six months: salaries will
range from 90 900 to $40 OC0 a year"
A system has been devised by a group
OF traffic specialists to fit men for this
growing need.
BY this system. without interfering
with your present work at all, you can
qualify for this splendid profession In
few short months.
Find out about IL. Call or phone for
znformation or write Dept. H-5. No obli-
CATION
LA SALE EXTENSION UNIVERSITY.
112 w. 42d st., ". Y. C. Bryant 500.
The New York herald., 1921-11-22

STENOGRAPHER - Competent s.enogra pher
and entry clerk. Apply Seaboard Trading
Company. 12 Water ST.
uPItOLSTFRFR. experienced insiGe: open
shop. Apply G. 4: Grand1ean. 1sa F. 42d.
YOUNG man. learn new business; expert
ence unnecessary: we teach you 70 make
$50 weekly. B 1870 Herald. Herald so.
The New York herald., 1921-11-22
MEN.

Honesty. ambition and diligence arc
not without their due reward. Any
man who In willing to show himself
possosscd OF all three qualifications
can earn, under our guidance. almost
any figure his desire may set. Drop
In 20 talk TO VA about this. You'll
find our proposition especially inter
cstinr II by chance your present re-
probabilities call on YOU, without de-
lay. 10 at least double your income.
Call room 80, i0G Market st.. New
ark. ~. J.
The New York herald., 1921-11-22

GOVERNMENT AUDITORS FOR Income tax
revenue service. salaries 1880 10 5000;
write for free information. FEDERAL IN
sTITUTE. room l00. Washington, y. G.
AUTO instructions. 500; unlimited lessons.
guaranteed on Lexingtons and Ovcrlands
until license secured. 12i West 65th st.
The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1921-03-11
PEAK OF DEPRESSION HAS
REACHED US and PASSED
This Is Verdict of the Officials of the
Western Union Officials in Con-
ference Recently at Helena.

M. G. Durkee, manager of the loca
Western Union Telegraph Office, re.
turned Saturday morning from Helena
where attended a two day conference
of managers and officials.
The meeting was conducted by A. C
Kaufman, general commercial mana.
ger, of New York, who rave much
consideration and discussion to the
question of developing business and
efficiency.
The telegraph is considered one of
the best barometers of business condi-
tons. The recent depression in bust.
ness has reach, and passed, the peak
period and conditions are now rapidly
receding to a normal basis and for
that reason the telegraph company is
making extensive plans for big bust
ness and the placing of considerable
equipment in many of their Montana
o~fficse, as well as the opening of a
number of new offices.
Other officials in attendance were:
A. B. Cowan, general manager, Den
yer Colo; W. G. Titley, division plant
superintendent, Denver; C. j. Ince, di-
vision commercial manager, Denver;
w. M. Wood, division plant supervisor,
Denver; U. G. Life, superintendent,
Salt Lake City; H. H. Hardy, district
commercial manager, Salt Lake City;
J. C. Rankine, superintendent tele
graph Great Northern Railway, st.
Paul; w. M. Mckay and f. E. Thorn
pson, assistant superintendent Great
Northern Railroad, st. Paul; and six
teen managers from the larger en-
ters of the state.
The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1921-03-11
GOVERNMENT BY THE PEOPLE Is
RESTORED

The keynote of the Harding inaugur-
al address was sounded in those words
which declared, "the success of popular
government rests wholly upon the cor
rect Interpretation of the deliberate, in
telligent, dependable popular will of
America" That sentence recognizes
the important fact that, in order to be
intelligent, the will of the people must
be based upon full information, anal
yzed and discussed in a liberal manner,
and when thus formed, is dependable.
In the opening paragraphs of his ad-
dress, Mr.. Harding demonstrated his
OWL correct Interpretation of such a
judgment of the people, for he stood
steadfastly behind the decisions reg
istered at the polls last November.
Particularly was this true of his
comments upon our attitude toward the
league of nations. In the course of
last summers campaign Mr.. Harding
had said, SIN simple words the issue
is, he 1.-THE Democratic candidate) ia
vor going into the Paris league and
I favor staying out" On that plainly
stated issue the American people gave
Mr.. Harding a plurality of more than
seven millions-a decision expressed
after a keenly contested campaign had
given the entire nation full information
The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1921-03-11
T. R. |. H. DIRECTORS HOLD
MEET AT DEVILS LAKE
Budget of 5000 Is Decided Upon for
Coming Year. S%Ociability Tour
Is Planned and Banquet.

The directors of hte North Dakota
division of the Theodore Roosevelt
Highway association held a meeting
at Devils Lake on Tuesday of this
week to which Henry F. Dooley, secre-
tary Of this association, and Ernest
Bylin, president, both of this county,
were present.
The main features of the meeting
were the adoption of a 5000 budget
for the year of 1921 and the plans for
hiring a field secretary to look after
the work on this division during the
summer. The field secretary will
start this work on April Is.
A report >of Me road situation in
nine counties was read and plans made
for better roads this coming year.
Federal aid will be given in six coun-
ties along the highway and the asso-
citation will publish a booklet adver-
Using the trail through North Dakota.
1t was also decided at this meeting
to have a s~ociability tour across the
highway sometime in July. A large
delegation of highway boosters from
Minnesota and states to the east along
the highway to take part in this tour.
A group of road boosters from this
state will meet them at the Minnesota
line and escort them to the Montana
line where the Montana association
members will meet them. If possible
the national association will secure
Theodore Roosevelt, Jr., to make the
trip across the highway at that time.
Those who were present at the
meeting Tuesday were E. Bylin, TIC
ga; H. F. Dooley, Williston; NJ. r.
Mayer, Devils Lake; H. M. Stanton,
Grand Forks; M. Jacobson, Rugby; D.
}. O'Connell, Towner; G.. Van Slyke,
York; c. E. Danielson, Minot; H. B.
Seen, Rugby; L. E. Jones, Glasgow,
Mont; A. w. Tracy, Duluth; Herbert
Metzger, Bismarck, and Mr.. LIE Ton
oreau, Duluth.
Following the business meeting the
directors and members at the meeting
were the guests of Mr.. Mayer at a
banquet held at the Great Northern
hotel following which they attended
a theatre party given by the president
of the Devils Lake Commercial club.
The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1921-03-11
A NOVEL SERVICE FOR OUR
READERS

The Courier, in view of the import.
ance of the event, has for the benefit
of its readers, published in this issue
a complete and unbiased review of the
proceedings at Helena. with reference
to the Extraordinary Session of legis-
~lature, and the controversy which has
resulted from such call. To this is
also added an editorial digest relative
to this matter, which is one of the
most complete features ever published
in a Montana newspaper. Your at
tention is in this manner called to this
innovation merely to remind you once
more that this newspaper is just a
little different from the ordinary
county seat weekly. This is just an
other feature of the "service" which
this paper is endeavoring to render to
its large family of readers.
Especial attention of our farmer
friends is also added to the detailed
plan given out by the Committee of
Seventeen, which report is published in
full on page two of this issue.