davidaulloa/AmericanStories huggingface dataset:
The Daytona daily news., 1921-03-11
Dramatic Reader
of Note Here in
Monday Concert

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talented aranatse FsaaeF au6 e
talusr a5A give rsr6tal s. f4e Pes
greasf flonai ehgfth aa tsaAF ewes
Ing saFch Ill - E
rhls au~f Is f IaFaaa psa w
hattie. ol h# hh teel ss-a
Mrs Eifa ~ itH
before Haaat eFs ea4
Unssei States ana aHAar
able pres. Ea Es
The Daytona daily news., 1921-03-11
an Special
Ford Special
Spirited Race

ehallenge alter challenge
uag BY the many contest
9ors in the final sweep
on the bee ch tomorrow.
create the most interest
]. Malby. driving a Ford
fently conn leted in his
= Cassie Wing tie, driver OF
- Garage Ford Special,
I|e straighta way race.
and his co rps OF expert
1xe been lard at work
0elr new er cation. which
tipped will many speed
aments. in luding over
racing mag neto, ignition
1Ad carburettr and special
Special IL" owned by
oslished ne,y world anna
q the beas h during the
the seasoI, and is adj
q the fasts ST gas gon-
9l section. fhe challeng-
ned James sand iapper"
nfrant mel rs blood at
1ent.
Special pr owed capable
x able speed On trial spins
this after oon. and the
nls assistan 5 feel conf
ey can walk way with the
z challenge ace with the
lord.
g the other land. having
r. heet Utic;l airplane for
having takei up the Nal
y also confident that he
ue little red Furd over the
winner in both events.
Ia 4So challenge races alone
Anse an after loons excite
many other Events are to
The Daytona daily news., 1921-03-11
"gssssts..ss,
!. : H0WS THE WEATHER !
!. !. TODAY? /!

Friday. with a high temperature Of
u and d low at GA. with a slight north
wind, cool and cloudy weather. prov
ed slightly damp and threatening.
with a heavy fog lowering over the
city during the morning. indications
We're leaning toward showers before
nightfan
Slightly colder weather prevailed in
other sections
The Daytona daily news., 1921-03-11

*Guy. Importer. Hotel Clarendon,
announces a 30 per cent discount on
all hats for the balance of the season.
starting today. 665-3-1 l-lt
The Daytona daily news., 1921-03-11
LATEST NFNS0FF
the TICKER FROM
new YORK MARKET
(Dow Jones service.)

The government plans a railroad in
quiry TO get changes in the present
law. There has been issued denial
" rumor OF government ownership
with Herbert Hoover as director.
New-York tribune., 1921-02-26
Wabash
/ 80. So
I .e.. 5l7s
I'd ar 1899
I "a

| West Mary d.
| land As 1852
| 10 .... 1874
! West Pacific
/ 5s 1922 *
I y 50
New-York tribune., 1921-02-26
The Days Bond Market

Ths Tribune prints each dag tAe mo-
tAyity dotes Of oil cctipe bonds quoted
on the NeV York Stock EGchange. Tho
@etNr1 on bond to the i4.uestor depends
upon three factors: the rate of interest
the security beers, the. market price
and the distance of the maturity dote.
To figure the precise yield on bond it
ts necessary TO use yield tables, but the
approximate yield con roughly be figured
ont by the follo1o;ng formula: Divide
the closing quotation on Is bond into
The rcte Of interest it pays, and the re-
sult s0iU be the Gnnuel return. II the
bond Is selling beIosc par you must
eItoto also for the opp, ec,Gtto,s Of the
principal. To DO this subtract the mar
het quotation from par, or 100, and d.
tide the remainder By the number of
gears the bond has to run before mo-
tnrity. For example, if per cent
bond IS selling at 80 end has ten years
to run, tho atnuol return toiu DC 6.6S
per cent. The difference bctaosen p6r
end the nrcrkct price soiu be 10 points,
subtracting 90 from 100. Dividing te4,
points bg ten years, the quotieht will BE-
/. This figure ts to be added TO 6.s6,
which Is the umnual return. Gnd the re-
s1lt 7.sS per cent, toiEI givs you the ap-
proxiTt1te yield.
New-York tribune., 1921-02-26
Wants Good Issues for s1o.ooe

: Question-I wieh to invest s1s,e6o.fn good
securities and have in view az an invest.
as. a3ent chicago g. North Western RAILROAD
1p9nds' 195ss' dated March 1, 1921, due March /.
1855; also Louisville a. Nashville Railroa 4
ootnpahy 645 per cent equipment trust
soid ceftihcates, series D, dated March I
maturing March /. !. 1929 and 1886: also
lawson Chemical Company flftsen-vear
sihking tund gold debentures. dated Ireb
ruary L. 1924. due February !, 1926. viii
you kindly stve me your opinion as to the
safety and yield OF these securitiesY-H,. s,
Answer--Your selection Of railroad
securities is good, and we consider
Doth 90 OF them sound and conservative,
Ihe Dawson Chemical per cent de-
bentures are a new issue by a company
which has shown largely increased
earnings in the last year. The total
amount Of the Issue is $4,000 900, and
the company states that net quick as
secs alone amount TO S2,3O0,O0O after
tne sale OF the debentures has taken
place The debentures are not secured
by mortgage, but it is provided that if
any mortgage is created except nur-
chssc motley mortgages these deben-
lures must be equally secured therehv
AS you see, the yield on the Chemical
company debentures, which were Of
1ered at 98H$, yielding $40, is high.
New-York tribune., 1921-02-26
U. $. Foreign Trade
Drops $l25,OOO,0OO
/, On January Total
Exports 500, 900, 600 Lower
and Imports $55, ,OOO, 900.
Below December Figures;
Trade Balance Grows

WASHINGTON, Feb. 25.~-A shrink
age OF $66,000,0ud in American export
trade In January was reported to-day
by the Department of Commerce. I'M
ports for the month fell off S55, ,oo0, 900
as compared With the, December
figures.
Exports in January totaIled $685.
000.o0O as compared with $T22 900 900
in January 1920. The total of imports
tor last month, $209,000,000, compared
with Sa1d,0o0,Oo0 in the same month
any month since February, 1915.
The trade balance In favor of the
United States for the month Of Janu-
ary was $446,000,0 900.
imports during the seven months
period ending with last January were
valued at $2,543 ,0O0, 900, against Sc, ,76S,-
100000 in the corresponding period
the year before. Exports in the seven
months totalled S4,63e,Oo0,O0O, COM
pared with $4,585, ,0o0, 900 in The CORE
spending period.
Imports of gold amounted to $38, ,u0o,-
600 in January, and to $342,0OO,000 in
the seven months, as compared with
S12.000,O0O DIN January, 1920, and .$3S,-
10000 in the corresponding seven
months.
Gold exports showed large drop.
amounting to only ss,0oo,ooo in Janu-
ary as compared with s48,O00,oC0 in
January, 1920. In the seven months
the total was $4,000 900 as compared
with $319,000,000 in the corresponding
period the year before.
Imports of silver fell for the seven
months. being $37.0o00O0 as compared
with S56,000,000, while exports of sill
YER yer were We're s38,oo0,ooo as against
New-York tribune., 1921-02-26
Railroads Reach
New Record for
Freight Haulage
Average Load Carried by
Each Car 3I2s Tons, an
Increase Over November
Figures; Tonnage Drops

Reports received from the railroads
OF the United States compiled by the
bureau Of Railway Economics show
that for the second successive month
the carriers in December established
new record in the average load car
rled by each loaded freight car. The
average for the month was 31ts tons.
which was seven-tenths of 8 ton more
than that attained in November, when
new mark was also reached.
The increase in the average was
made despite the fact that freight ton
mage declined during the month. Com
pared with December, 1917, when the
railroads were still under Federal con-
troi, the December average freight
loading represented an increase of 8 is
tons over the average made then and
gain Of I % tons above the average
for the corresponding month Of 1918.
The average movement of freight
cars in December was "a 4-5 miles per
day, compared with 28 4-5 miles in No
vember. This was due principally TO
the increase in the number Of empty
freight cars moved to "home roads,
The decline in traffic in December was
reflected in compilations showing that
the net ton miles for the month, the
number of tors of freight carried
multiplied by the number of miles
transported, totaled 34,722, 1885, 900, s.
reduction Of 2,736,259,0G0, compared
with the November total. 1t was, how
ever, an increase of 3 $40 per cent over
the net ton miles for December, 1919.
Surplus idle freight cars on the
roads of the country on February Is
stood at 392 ,162, contrasted with 473,-
080 on March l, 1919. The car surplus
on the fifteenth Of the month consisted
of 179159 box cars, ISL 1894 coal cars,
1000 refrigerator cars, 1853 stock
cars and 1881 fiat cars.
The Association of Railway Execu-
tives announced yesterday that it had
adopted set of fundamental prin-
ciples." which should guide the rail
roads in their relations with employees.
The association rei.erates its opposi-
tion to policy of requiring the car
rier companies to operate under uni
form wages and working conditions,
not because it prevents efficient and
economical operation. but equally for
the reason that it inevitably results
in injury to and dislocation in other
industry and to farmers and stock
raisers, who are brought into compe-
tition with the railways for labor"
New-York tribune., 1921-02-26
No Decision ON c., W. X W.
Plan of Reorganization Dis.
cussed: Quorum Lacking

Although there was no quorum pres
ent at meeting called for yesterday
Of acton, Williams & Wigmore, Inc,
an informal discussion took place re-
snrding the formation of new COM
pany, capitalized at from $2,00O.000 to
$3,oO0,oO0, to engage in the export. busi-
ness on commission basis and to
hquidate the present company's assets.
In the event of liquidation the chair
man of the meeting informed the stock
holders present that there was no sure
equity for them, in view OF the present
commodity and foreign exchange stu
alton. The meeting developed into a
criticism of the management, which it
was charged brought about the present
plight Of the company
1t was also developed that the COM
pany owes approximately $4,500,00O to
the Guaranty Trust Company at the
present time. 1t was stated that no
negotiations had yet been undertaken
with bankers with regard to the forma-
ton of a new company. The statement
was made that the company's Russian
interests. in the event of IL general
European peace, might be worth
New-York tribune., 1921-02-26
Hide and Leather Loss
Net Current Assets Droy,
S6,073.6S;S i'm Six Months

In its report for the six months
ended December 81, 1890, the American
Hide and Leather Company yesterday
showed loss Of s6,s3o,555, after pro-
viding for depreciation, interest on
oAns, repairs and after applying ap-
proximately s6,0o0,000 to reduction Of
inventories.
The current assets of the company
at the end of the year stood at S12,-
690,243 and current liabilities at ST.
l33,2s7, leaving net current assets of
so,665ee's56. a decrease during the six
months OF $6,973,655. This, Theodore s.
Haight pointed out in the report, was
occasioned mainly by the writing down
Of inventories.
The Inventories of hides, skins and
other rsw materials" Mr.. Haight said,
have been valued at market prices,
which are below cost, and the invento-
ries of finished leather and goods in
process have been valued at cost Of
replacement. which is below selling
price. This basis, it Is believed, places
the inventories at most conservative
value as at December 81, 1920.o
New-York tribune., 1921-02-26
Progress lis Made
In Liqslida ating
Frozen Credits
Average Carried Said To BE
Between $50, 600, 900 and
SIS, 600. 900, About Ieo
of Clearing House Loans

Liquidation Of bank loans is pro-
ceeding satisfactorily, representative
bankers declared yesterday, and con-
siderable progress has been made since
the turn of the year in scaling down
frozen and distressed credits. The sit
uation is such with regard to COM
modify loans, one banker asserted, that
the future can be looked forward to
With confidence.
According to an estimate obtained
in responsible banking quarters. the
aggregate of distressed credits csrried
By New York banking institutions runs
between S50,000.000 and $4,000 900. or
slightly more than ] per cent of the
total loans of the New York Clearing
House banks. By distressed loans is
meant, it was pointed out, credits which
have been made TO individuals and con-
Germs which had fallen due and have
had to be extended by force OF circum-
stances These are loans that In the
majority Of cases will be paid off in
Que course OF time, but cannot be liuui-
dated st present, because of general
market conditions, without causing
heavy losses.
The situation in many lines Of busi-
aess where large volumes OF credit are
used is extremely encouraging and
promising, according to commercial
bankers. 1t was stated by an official
Of one of the largest downtown institu-
tions, which makes speciality of COM
merciai business, that the cotton goods
manufacturing industry in New Eng
and, with the exception of that part of
it engaged in the making of automobile
tire fabrics, has about completed sts
liquidation and is in s. strong position.
Liquidation has been about so per cent
ompleted in the woolen goods manu-
featuring industry, it was said. The
leather industry, the banker declared.
is still suffering severely, and loans If
firms engaged in this business have not
ueen much reduced in the aggregate.
Zone OF our troubles now" declared
bank Official in large lending insti-
tuition. SIS the desire Of concerns and
individusss which took large losses last
year TO rush into the market in an
effort to get back their losses as quick
ly ss possible. This matter came up
New-York tribune., 1921-02-26

S " Il
N YeN III 6
H Sc 1s4s.
I -. eeh
n Y RVS adj
So l949
10 .,. 5M
" Y State Rys
con i.ss
1852
L 49,. 81
New-York tribune., 1921-02-26

Hook Valley
ANS 1899
! ~. T3 "a
Hous & T G
s,nl "A 1921
Had & NJ rig L
New-York tribune., 1921-02-26
Exchanging United States steamsbi.

Question: am herewith inclosinp ,s+.
Co,npa SeaT me oy the United States Steamship
tIoiit1pa1y. ahd as l am very large etoclk-
holder would kindly ask you, aa a reodo-
~ o. your Vatua Bile paper. to advise mo if /
hnidi0enal 1onlpeiied Pc ed to exchange my present
pSnV INTO United States Ship CORPORA tjoT,
$ht hG wat would happen If I do not make
tiilS eNch9hge on or before February rs,
I'm I'm tesal!y compelled"in any way to maxi
te'e eHchange, and would ! lose nv eoultv
- "a lA!nsa 10 DO SO" l know you do MOI
ToE'gs fb,g reiattve to speculative stoefs but as
a5 .'aIs IS not question to the specuI alive.
hhesS he.S m nnt merely q question Of my rights.
nopo you VIII favor me.---v., w. /. 1855
Answer-The United States Shin Cor.
poratlon was incorporated in June, 1920
III Maine with capital CT $40 1000, O0j1 fo,
ene purpose Of merging the United
States Steamship COMPANY and AZ
United States Transport Company, The
merger plan calls for exchange al
stock OF the new corporation for Shares
O. the Two companies on The basis ot
tour shares Of the new corporation fo1
each hve shares held in either of the
Ga companies. Both the stocks OF
United States Ship and United States
Steamship are now selling on the curl
ABOUT parity, although officials assert
that ABOUT 40 per cent of the stocks
OF the. old companies have been de.
I posted under the merger plan. The
time for a deposit of the stocks viii
expire on February %, but it is stated
tt at the time limit will in all prob
ability be extended. There is no sd
vantage IN exchanging the old stool
LOT the new at present market prices
You cannot be compelled to exchange
the stock. In fact, if you sold yoS1
| old and bought the new at presen,
prices you would get nearer five fol
t'ye than four for five. If you refuse
to exchange you retain your interes
IN She old company unimpaired, ex
cept as the shares might lose market.
ability. AS neither company issues .
current financial statement we can fn(
no basis for advising you about. thu
merits of either
New-York tribune., 1921-02-26
Gets Stockyards Control
Boston Firms Purchase of IS.
600 Shares Gives III All

WASHINGTON. Feb. 25.-Examina
tion of the records in the District Su-
preme Court showed to-day that the
interest in the Chicago stockyards, sold
by Armour & Co. to T. H. Prince
& Co, Of Boston, with the courts
consent, represented 90 per cent
OF the total stock of the stockyards
company.
The number of shares sold was an
proximately $1,000 instead of 20 600. a.
first reported, and the price paid by
Prince & Co. was $1,50o,0o0. This
gives the Boston company control of
all Of the stock Of the ward.
New-York tribune., 1921-02-26
Sumatra Earns
$I0.I5 Share i'm 6 Mos.

Net income, before income aua
profits taxes, but after interest and all
other charges except depreciation, o.
the American Sumatra Tobacco Com
pany for the six months ended Jauu-
ary 81, amounted to 81 1,535,246, eQuiva
lent, after preferred dividends, TO
$lO.l6 share earned on the common
stock, 1t was announced yesterday.
This compares with a net income of
S1,457,9 ,978 in the corresponding period
of the preceding year Operating
profit showed $1,967 ,480, compared to
$1,570,0oS. Since October IS, 1920, the
number of stockholders has increased
over 80 per cent, to more than 2.700.
On February 1 of this year the average
holding per stockholder was fifty-threo
shares.
New-York tribune., 1921-02-26
Perpetual Certificates of Public Service

Question: hold some 6 per cent per-
petuai' interest bearing certificates of che
Public Service Corporation of New Jersey :;
paid little over par Tor the same; present
market value around 65: sorne talk OF late
1s to the corporation going into hands OF
what way Ia this paper secured? Would
VI. g.
Answer--The perpetual interest bear
ing 6 per cent certificates, of which
there are $f9,130. .285, are secured by
tho deposit of $69,257 900 par value
$48,750,000 stock Of the Public Service
Railways Company. This latter Is tho
operating company for the street and
interurban railways of the Public Serv-
ice Corporation of New Jersey. The
company is now attempting to get per-
mission to raise its fares from seven
to ten cents. In the course OF this
campaign the company may be showing
the dark side of its condition. In the
five years ended December 81, 1919, it
succeeded in maintaining a good aver
age margin, above the interest require
nents' on these per cent certificates.
These five years were as hard or
harder on public service corporations
as any that we are likely to have in
the future. The New Jersey situation
is, of course, complicated with Trenton
politics, so that the outcome is mat
ter depending on your own judgment
based in part on conditions other than
earning power. Your own action in
regard to holding or selling will like
wise depend somewhat on your own
personal situation. If you need abb
solute safety in your investment you
had better SELL If, on the other hand,
you can afford to take some risk YOU
might as we'll hold on to your GER
tifcates rather than take the heavy
loss involved in selling now. The com
pany ought not to have as hard a
time in the next five years as it did in
the last five
New-York tribune., 1921-02-26

at meeting OF our bank board the
otner day, and we decided it best to
seLl our customers to go slow. We are
savising them that. despite their good
nteWions, this is no time TO plunge,
even If commodity prices are down,
ana our policy is to hold down on the
loans that we make in such cases, Our
view. siew Is that business is likely to con-
t'nue in state Of unsettlement."
The slump In foreign trade has been
development which has caused the
areesing OF a considerable volume of
ereait, the bankers say, although the
1osai amount involved is said to be
mucn less than 1t was q few months
New-York tribune., 1921-02-26
Chilean Loan Approved
New borrowing To Be Used for
Paving OhIipaf;ops

SANTIAGO, Chile, Feb. 25.-Thc Sem
ate to-day approved the measure au-
thorfzing the negotiation abroad Of a
loan OF S2,oo0,o00. The Chamber Of
Deputies has already adopted the bill.
The major portion of the loan will be
used IN repaying amounts the govern
ment purposes to borrow Immediately
from the railway loan of $4,000, 900
States. The funds borrowed by the
government from the railway foam will
be devoted to public works to relieve
the situation created by unemploy-
="
New-York tribune., 1921-02-26
To Vote ON Changes

The annual meeting of the Norfolk &;
Western Railway, which is scheduled
to take place April ID at Roanoke, Va,
has also been called as special meeting
for stockholders 10 vote on proposed
changes in the bylaws intended to do
away with the Office of chairman of the
board; to provide for holding of an
nual and stated meetings of directors
in Philadelphia instead of New York,
and to eliminate obsolete matter relat-
ing to the voting rights of holders Of
adjustment preferred stock.
New-York tribune., 1921-02-26
Put Her All Into Coal Stock

.Question--aT am so worried becauge OF an
iinvestment made with all the money /
mad IN the world. I. bought ! 900 shares
OF Acme Coal at "a 2aa and was promised
q 10 per cent divide nd before the end Of
the year; also 1t would go up to 4: also it
received the dividend and Acme is slowly
dying to nothing What can do? Have I
lost au?-Miss e. N.
Apswer-If you held Acme Coal Min
ing stock as carly as October 25 you
should have received 10 per cent divi-
dend November |. That was the last
per cent in 1920. The company makes
public no financial statement, 20 we
cannot tell you what there is behind
the shares. 1t is too bad YOU ever
touched the stock, Never buy a secur-
ity on some ones prediction that it is
going up to q. certain price. If such
forecasts were always honest it wouldn't t
New-York tribune., 1921-02-26

w
st r & K c s
L 4Ms1 1s41
2 64
ST r NJ & NJ
4bs 1888
2 49,. Ssis
Sclot y & N
II IS 1879
1.s.:... e
New-York tribune., 1921-02-26

Ill Cen IS
1863
! 80. II
SIS 1884
3 -. sfA
Ind Steel So
1869
I -. S9a
.Intpo Mot
4hs 1859
. & -s.. 1sA
New-York tribune., 1921-02-26
Brewers i'm Receivership

CINCINNATI, Feb. 25.-The Heran-
court Brewing Company to-day went
into the hands of receiver. Judge
Joseph B. Kelley of the Insolvency
Court, appointed Herman A. Hohnhorst,
PRESIDENT of the company, receiver. The
assets of the company are reported TO
be more than s1,000,000 and its debts
only 100000. Recently the company
was fined $4,000 by the government
for exceeding the alcoholic content of
one-half of / per cent in its product.
New-York tribune., 1921-02-26
Pass Indian Refining Dividend

Directors Of the Indian Refining
Company have voted TO pass the regu-
lar quarterly dividend of so cents q
share on the common stock, due at this
time. This action was taken, it was
explained, because of the present un-
settled conditions in the oil industry
and the severe declines that have taken
place since the first Of the year.
New-York tribune., 1921-02-26
Old Reader VIII Invest $3.50

Guestion-The New York Tribune has
been without interruption read by three
generations OF my family. feel there
ior' Tree 70 write you in regard to Invest
ment OF $3.50 which l wish to make in
she purchase of one.,. two or three dif-
terept bonds and possibly teh shares each
or one Or two railroad or industrial pre-
ferred stocks. L Wish to purchase bonds
or stocks which arc considered reasonably
safe Investments and at the same timo
mcnded to purchsss q bond OF tho new
lssue Of tho Virginia Carolina Chemical
company, twelVe-year ia per cent sink
ing FUND gold debentures, at about 95. net
ting per cent; also new issue OF Portland
Gas and Coke Company first lien and gen
era! mortgage bonds. 7s, due 1o4o. price IS
and interest, to net Z 70 per cent: also
Southwestern Bell Telephone Company
convertible Is, due April /. 1925. 96h and
interest netting per cent. ! would ap-
Answer--In your list of bonds you
have two public utility bonds and one
good industrial. For greater diversifi-
cation we would suggest that you buy
the Southwestern Bell rs, but instead
of the other public utility consider
Swiss S per cent bonds, due in 1910
and selling at '102, yielding you little
less than s per cent interest, You
might consider one good railroad bond
for instance, New York Central deben-
ture IS. selling at 80, yielding over 7
per cent, due 1885. United States Steel
z per cent preferred is, in our opinion
one of the best of the industrial pre-
ferred stocks. and Atchison, Topeka &
Santa Fe, paying per cent, is one. OF
the best railroad preferred stocks.