davidaulloa/AmericanStories huggingface dataset:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
S. o. OF CALIFORNIA
DECLARES DIVIDEND
viii Pay Quarterly 81 on
Nev S25 Par Stock.

The directors OF the Standard OIL
Company OF California have declared
quarterly dividend of 81 ehare on It's
new S25 par value capital stock, pay
able on June Is TO stock of record on
May IL. II IL the first dividend TO be
declared on the company's new shares
OF smaller par value, which were divided
four for one, for those OF 800 par
value.
The dividend on the new stock Is
equivalent to 81 a share quarterly. or
SIC a share annually on the old stock
and contrasts with an annual rate OF
$40 regular and 50 extra which the
company paid last year. The $40 regu-
lar dividend rate was maintained on the
old stock from the time OF the dissoiu-
ton OF the Standard OIL trust In 1919.
In 1918 an extra disbursement OF $3.50
n share was made. In 1919 $3.50 extra
was paid. and in 1920. 81 extra.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
BANK PROMOTES OFFICERS.
Mechanics ana Metals Make Sew
eraI Changes In star.

The directors of the Mechanics and
Metals National Bank appointed yester-
day Carl Schulz manager Of It's for
eign department. Mr.. Schulz had been
for more than ten years assistant man
ager OF that department. William III
Holdings was appointed manager OF the
Columbus avenue branch OF the bank
and Trygve Nielsen was appointed man.
ager of its Broadway branch.
Clarence y. Wilkes was appointed as
slstant manager OF the banks Produce
Exchange branch. Robert Wetzler was
appointed assistant manager of It's
Broadway branch and William X.
Bedell was appointed assistant man.
ager of its Columbus avenue branch.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
MIDvALE SHOWS A DEFICIT.
steel Co. Fails to Earn Interest
Charges In First Quarter.

The report OF the Midvale Steel and
Ordnance Company for the first quarter
Of 1921. made public yesterday. shows
deficit after charges and taxes OF
81. 5.202, which compares with net
profits Of s2.056.724 in the preceding
quarter ard with s1.5f6,997 profits in
the corresponding quarter of last year.
Net earnings after provision for all
taxes were s536,5I1, compared with
s3,669,6S5 in the same quarter OF last
year. Interest charges aggregated
s7s0,2sT. against s776.753 and write offs
for depreciation and depletion s1.171,-
1872. against s1.376,935.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
CONSOLIDATED EXCHANGE.

Well maintained foreign exchange fig
ures. slightly lower money rates and ia
vorable trade adviccs brought about
yesterday higher range of prices in
about all Consolidated Stock Exchange
groups. Certain steels, marines and spe-
cialties moved to new highs for recent
months. advances In shares OF those
groups being point to more than three
points. Rail Improvement was | to
pcr cent Gains OF "a in Kelly-Spring-
field to say. In General Asphalt 10
1914, 4 IN Otis Elevator to f4s. 2 IN
Retail Stores TO ss% and az in Republic
Steel 10 eess were outstanding features.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05

Guaranty Trust Dfsposes of Inter
cat In ItnIina Discount Co.

The Guaranty Trust Company sold
about month ago It's 10 per cent. inter
cst in the Italian Discount and Trust
Company to the Banca Disconto of Rome.
but the sale will not become effective
until May 10. whens Emanuel Gerii. n
silk merchant, will become president of
the institution. At that time President
Kennedy will return to the employ of
tho Guaranty Trust Company. The re-
sult of the transaction will be no change
In policy. as Eugene Stetson. vice-presI-
dent OF the Guaranty. will continue 10
be chairman OF the executive committee
OF the italian company.
This company was established In 1918
with 100000 capital. OF which the
Guaranty held 100000. Its deposits
now exceed S10.0o0.oo0.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
U. S. REGAINS GERMAN TRADE
Ex-I<aiscr's Subjects Become Our
Third Best Customer.

The United States has already re-
covered nearly all OF its hold on the
German market relinqushed during the
war, according tc figures compiled and
made public by the New York Trust
Company through it's monthly organ. In
the nine months from July, 1920, to
March. 1921. Germany was America s
third best customer, with total puv-
chases from this country of 312.1SS. 900.
an increase of s174.031.000 over the
same period Of the preceding fiscal
year.
The imports or Germany from the
United States during that nine months
period were equivalent to almost 90
per cent. OF the estimated value of those
OF 1913
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
RESERVE BANK CUTS
ITS RATE TO 61-2P.C.
Action Here Is Looked Upon
as Safe Ending Of First
Deflation Stage.

The Federal Reserve Bank OF New
York announced last night a cut in its
rate for advances and rediscounts of
commercial paper from Z per cent. to
ia per cent, an action foreshadowed by
a similar step taken on April IA by the
Federal Reserve Bank Of Boston and by
the Bank of England on April %. This
action leaves in the per cent. class OF
rediscount rates the institutions at At
lanta. Chicago, Minneapolis and Dallas.
The brief announcement by the New
York Reserve Bank, long awaited and
urged on the ground that II would give
notice to the people of the United States
that the first stage of the defation
movement had been safely passed. was
sent TO all member banks in the district
as follows:
You are advised that this bank has
established the following rates of
discount effective from the opening
of business on Thursday. May 5,
1921, and effective until further no.
tice, and superseding all existing
rates:
Commercial Paper--For advances
not exceeding fifteen days. secured
by all classes Of eligible commercial
paper, excepting bankers accept
ances. and for rediscounts OF such
paper not exceeding ninety days. 6M
per cent.
United States Government Securi-
ties-For advances not exceeding
fifteen days on Liberty loan bonds.
Victory notes or United States Treas
ury certificates of Indebtedness and
customers notes secured by any of
the foregoing, and for rediscounts OF
customers notes so secured for
periods not exceeding ninety days.
per cent.
Bankers Acceptances-F'or adj
vances not exceeding fifteen days, Sc
cured by bankers acceptances, and
for rediscounts of same not exceed
ing ninety days, 8 per cent
Benjamin Strong, Jr, governor Of the
Federal Reserve Bank of New York,
said that the action speaks for itself
and he would add no comment as to the
reasons for the action or the possible ef-
fects. In banking circles throughout
Wall Street the action was hailed as a
wise step. fully justified by the course
of open market rates for commercial
money, by the condition of the New
York Reserve Bank in particular and by
the condition of the Federal Reserve sys-
tenn as whole, and as an indication
that easier money conditions had come
to stay with the positive trend In down.
ward direction.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
PERE MARQUETTE LOSES
BY SCORNING u. S. AID
Lack of Guaranty Costs Road
S7I8,285 in Six Months.

Pere Marquette's declination OF the
Governments guaranty for the six
months ended August 81 last. taken at
date when the severe traffic slump
could not be foreseen. cost the road
s71s.2S5ss according to the annual re-
port for 1920. issued yesterday. The
operating deficit for that period amount
ed to s46,2S5. Acceptance OF a guaranty
would have resulted in net income OF
Ss72,0o0.
The combined income account, show
ing actual earnings or the road in the
twelve months period. not including
standard return received for the frst
two months. compares as follows:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
NOTICE TO THE HOLDERS OF
NtDyAIE STEEL 4 ORDINANCE 90.
2O-Year 80 Sinking Fund Colo Bonus


Notice - hereby given that ne amount
~ funds now IN the sinking Fund provided
,tndor mo Trust indenture made BY MID.
cal. steel 4 Ordnance Company. dated
March l. 1916 IL sGi5, 5sI % and that Guar
any Trust Company or New York. as
trustee under said Indsnture, ard pursuant
IL Article thereof VIII receive a. "
rRrrgT DEPART MENT, i40 Broadway.
New york CITY. until 10 o'clock a. n. on
Monday. MAJ 10, 1921, sealed proposals for
,ite sale ~ II ~ bonds secured by said In
donturt n such amount a. VIII exhaust
,re sinking Fund moneys in hand, AZ the
lowest prices at which said bonds vii be
offered for ssla, but not exceeding 1857
~ .he principal amount thereof. Interest
- All bonds purchased VIII cease on May
f1th. 1n2i, and payment u the amount 81
the accepted offer. and accrued Interest dns
thereon viii be made upon delivery TO tho
Trustee OF the bonds purchased, together
with proper Federal Income Tax Owner
shIp Certificates.
offers IN whole or IN part
GUARANTY TRUST COMPANY
OF NEW YORK.
rs. CHARLES II. SABiN. President.
Dated May 3 1921.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
TO THE HOLDERS OF
AMERICAN MATING COMPANY
rirst RefundinE 5ot Gold Mortgage Bond

Tue June !. lVth
NOTICE rs HEREBY GIVEN. a. provided
i, Arfiete 4 II tho First nefunding MORT
rson aa.ea June 1, 1916, made by the Anerl-
ran Mating Company 10 Guaranty Trust
scn,parv ~ New York, az Trustee. thu.
oW 81 the outstanding First Refuudlng
Nor,rars ses Bonds issued hereunder have
been called Tor redemption and VIII be pam
~ and after June r. 1921. AZ 1876 on pres
rn.stion Al the TRUST DEPARTMENT ot
,he Guaranty Trust Company % New York.
fto broadway, New York City.
.,ouron- representing accrued interest du.
rure Il 1921 should be detached and coli
iec,ed II the usual manner. After June /.
iaei interest on the bonds VIII cease
AMERICAN MALT AND GRAIN
COMPANY, IN LIQUIDATION.
ny Il. H. LANDALE. Chairman.
DATED New York. April 20. i02i.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05

Guide. winmi Go. have just prepared q
new circular entitled United States steel.
Premier Industrial Of the World showing
tho position Of steel common. Copies ~ II
arc obtalnahle on request.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
Paris-Orleans Railroad Company

(compagnie cheniu de Fer dc Paris ocans)
Interim receipts Of A. Iselin g. Co. for Six
Per Cent. Bends of Paris Orleans Railroad
Company may be exchanged at the office
Of the undersigned No. SO Wall Street,
New York City, for the bonds specified in
said interim receipts.
A. Iselin g. Co.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
FINANCIAL NOTES.

A, Tho annual meeting OF the stockholders
~ the Asia Banking Corporation. 81 Broad
way, yesterday. ia board OF directors vas
nresident az the Bankers Trust Company,
vRs elected 70 take tho place Of Seward
prosser, retired.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05

John ". Davis Of the law firm OF siotson.
Jennings Russell has been elcefcd Al.
rector ~ The National Bank Of Commerce IN
New York.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05

MANY hiE business deal has been devei-
oped from the business Opportunity ads.
In The Herald Want Ad. ssction.-Adr.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
UNITED STATES TREASURY STATEMENT.

Special Despafoa TIE NEW
Herald Bureau
ID. c., MAJ
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05

Mckinley Morris, members of the New
York Stock Exchange have issued FOR dis.
tribution in booklet form the recent speecl
OF Judge Ebert II. Gary. chairman ~ the
United states steel Corporation, 70 It's stock
holders.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
The Oldest "Trust Company"

TIME New York Life Insurance and Trust Company
has the distinction Of being the first financial inst
- tuition in this country-and perhaps in the world
commence business with Trust Company" as part
Of the original title.
One Of the Company's larger rivals in New York
organized with powers several years earlier but
it did not the of Trust Company until
several years after the New York Life Insurance and
Trust Company began business. There similar
in Philadelphia and possibly two elscwhc~,
but under the circumstances it would the
New York Life Insurance and Trust Company which
began business in 1890 under its present corporate
entitled to rank the oldest Trust Company.
The Company is prepared meet the complex needs OF
1921 with the painstaking which has charac
terized its administration of Personal Trusts throughout
its ninety years Of service.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05

uarrub ~ Kenney. formerly OF Harris,
Forbes 4 Co. and Howell Evans. formerly
~ INC Guaranty Company Of New York.
have become associated with the bond de-
pertment Of J. q. White 4 Co. Inc
Tho Central Union Trust Company ~ New
York has been appointed trustee ~ the Twin
state Gas and Electric Compsny's ~ 600, 600
OF ten year 9 per cent. bond secured gold
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05

notes, dated Msrcn i. iszi. and duo o
March 1. 1891.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-05
BID AND ASKED QUOTATIONS
! y STOCK EXCHANGE QUOTATIONS..
FOREIGN BONDS.

To tho following prices accrued Interest Is
TO be added in every case:
The Lexington progress. (Lexington, Tenn.) 1884-current, 1921-04-08
AN AUTO TRIP TO JACKSON.

When we take a trip our readers
have come to- expect an accounting
therefor-so, having gone to Jackson
last Saturday in company with Mr.. j.
F. Winslow, his daughter, Mrs. Dixie
Logan, Mrs. Phillips, wife of the tele-
phone manager, and Miss Pinkie o.
i've, we feel like telling our friends
what we saw along the road.
First, there had been rain not long
before. but not until we reached the
Will Webb place some four miles
from Lexington, did we find the road
condition bad enough to interfere with
auto traffic. Here it was so bad that
our machine was hung up for a while,
with front and back axle and dust
pan on the ground, but by dint of use
of parts of fence rails and punching
dirt into the ruts, we succeeded in
getting out. Seven miles from town
we hit section of road that had been
dragged-and the value of dragging
was at once unmistakable, for the
road was excellent. Upon inquiry as
to whom has shown the spirit of en-
terprise by dragging the road, we
were told that Yves King and among
'em did the work. Seeing several
new split pailings shining on the gar
den fence of Wes King, it was our in
tention to rag" Yves a little further
about that "hole in the woods" but
Wes having had another tussel with
Rheumatism, we refrain until he
again gets back to "normalcy"-as
President Harding says.
March Ridge was not nearly so bad
as we expected and the balance of the
way to jackson was good-barring
the rough and uneven surface of that
part of the gravel road built five
miles from the city of Jackson and
which still has evidences of having at
one time been given a thin coating of
asphalt.
Some distance out of the city the
old gravel road has been so repaired
that it has an excellent surface.
There is nothing new along the
road to Jackson. The lands, much of
poor, is still being run in corn ad cot
ton, of which it can produce but lit
tie but which if planted in sweet po-
totoes would make real good money.
Several hours were spent in the
city, we visited Mrs. Ryan, who is in
low condition and was unable to rec
ognize US, many friends were met
and conversed with and the return
trip was made without mishap in the
Winslow Chevrolet.
The Lexington progress. (Lexington, Tenn.) 1884-current, 1921-04-08
LEXINGTON HEARS
A BISHOP PREACH.

Goodly Lexington congregations
had pleasure and profit of listening
to sermons preached by Bishop W. B.
Murrah, of Memphis, in the Southern
Methodist church, last Sunday morn
ing and night. 1t was not our good
fortune to hear Bishop Murrah on
christian Education" at the morn
ing service because of the fact that
no newspaper notice had been made
of the coming Of the distinguished
prelate, but having become aware of
his presence in Lexington we did not
fail to "claim our attendance" We
could not take notes Of the sermon,
but the text was from Proverbs and
reads something like this. There is a
way that seemeth right to man but in
the end its ways are the ways of death
and the way and manner in which
the distinguished gentleman ham
died the subject showed him to be a
man of mature and wise thought. He
is too big a man to be anything but
plain and his sermon could not fail to
revive in the minds of his hearers a
clear knowledge of everlasting and
indisputable truths. Bishop Murrah
is brother-in-law of Capt. G. T.
Fitzhugh, of Memphis, than whom
the State of Tennessee has no cleaner
or brainer man in public life.
The Lexington progress. (Lexington, Tenn.) 1884-current, 1921-04-08
NUMBER 35
THREE MEETINGS IN
SUCCESSION

Our local Southern Methodist
church, last week and running into
this week pulled off" three notable
meetings which concluded with "set-
ting up" meeting to put on "Chris-
tian Education" movement in Lexing-
ton District.
First, on Monday of last week
came the Sunday School Institute,
which seemed to be great occasion
extending over four days, and which
had the good luck to be given a series
of lectures by DIR. C. A. Waterfield,
pastor of Jackson's First church, the
lectures occurring each afternoon at
5 o'clock. During the period there
was preaching by various ministers,
notably DR.. Mccoy and Presiding Ell
der Fred Peoples, the latter of
Brownsville.
Following the Sunday School In
stitutes close on Thursday, came the
Lexington District Quarterly Confer
ence, over which Presiding Elder II.
A. Butts presided. A quarterly Con-
ference is always an important event,
second only to the Annual conference
and this particular one seems to have
been one of complete satisfaction to
all concerned.
We have noted elsewhere the SER
mons by Rev. Marvin Yates and
Bishop Murrah-the only ones we
heard. On the educational meeting
held Monday we are not posted but
our columns are open to information
concerning it.
1t is good t onote that the Chris
tian world is waking up to the i'm
portance of Christian education, as it
has always awakened to literary edu-
cation. The Christian world is coming
t oknow that if literary education re-
quires six or more hours a day, re-
ligious education is entitled to more
than one scant hour in the same
length of time.
OF course the visitors to this series
of meetings were duly and hospita-
bly, entertained while here.
The Lexington progress. (Lexington, Tenn.) 1884-current, 1921-04-08
ARTHUR PAGE AND
JOHN BASS PARDONED

County Court Clerk J. w. Page re-
turned Thursday evening of last week
from Nashville, accompanied by his
son, Arthur, and also John Bass, who
were convicted together in the Circuit
court of Henderson county. Mr.. Page
has worked faithfully and unceasing.
ly for the pardon of these young men
going on the assumption that they
were innocent, hence, unjustly con-
victed on circumstantial evidence
and he states that facts that have be
come known since the trial added to
the strength of that belief But be all
that as it may, the boys were convict.
ed on circumstantial evidence and as
we grow older we get further and fur.
ther from sanctioning the law, which
in Tennessee, permits taking life and
liberty of man on circumstantial
evidence, from the fact that the best
laid chains of circumstantial evidence
known in the world have proven to be
falIacious and innocent men executed
and imprisoned.
The Lexington progress. (Lexington, Tenn.) 1884-current, 1921-04-08
SAM C. NEWMAN.

\ Sam C. Newman, one of the very
best and most highly respected citi-
zens Of Sardis, died last Friday, Apr
list, at the age of As years. Mr.. New
man had been married three times
and Is survived BY his wife; also by
three children Of his first wife, all
sons and two of whom are unmarried
Mr.. Newman was a member of the
M. e. Church and the Independent
Order of Odd Fellows and those who
knew him best from long association
with him say that he was everything
that it takes to make good man and
good citizen. Mr.. w. d. Wright, a
former citizen of Sardis, says that
Mr.. Newman lived his life in that Vi
cinity without making an enemy
most enviable record and proud
heritage to his children.
The Lexington progress. (Lexington, Tenn.) 1884-current, 1921-04-08
A GOOD SERMON
WELL DELIVERED.

Last Sunday afternoon we had the
pleasure Of hearing a sermon in the
Southern Methodist church, by Rev
Marvin 7. Yates, pastor of Adams
vile Circuit-the first church service
we have attended since December.
The speakers subject was Evan
gelism"-personal evangelism-and
from it he preached a sermon worthy
Of any minister of much more ma
ture years and higher station. Rev
Yates is a man of good appearance
his English is excellent and as q
speaker he has no peculiarities, which
is fortunate for him and his hearers
for pecularities are always disagree
able. Rev. Yates has been in the min
istry but few years, his first charge
being Sardis and Saltillo five years
ago and the ability and magnetism
with which he now breaches marks
him as a man with bright future in
his church and his conference. He ap-
ologized for being the next layer in
the sandwich after a Bishop, but VIC
remarked that while it might be that
the circuit rider could not preach the
Bishops sermon, possibly the Bishop
could not preach the Circuit riders
sermonl&d that with all due res
pect to Bishop Murrah who is a big
broad man and whom we had the
pleasure of hearing at the Sunday
night servise. Goodness may be
counterfeited but fellow must have
ability Of his own to make the i'm
preston that Bro. Yates is able to
do in a simple sermon.
The Lexington progress. (Lexington, Tenn.) 1884-current, 1921-04-08
COMMUNICATED.

621 Park Ave-, Hot Springs, Ark,
April 25th, 1921
Editor Progress,
Lexington, Tenn,
Will you please send me this weeks
copy of the Progress at the above ad-
dress.
It may be interesting to some OF
your readers to know that Mr.. How
ard Sweat, brother of our townsmen
w. W. and C. C. Sweat, with wife
and baby is now located here at 12f
Central Avenue, and extends cor
dial invitation and welcome to any
of Lexington's people to make his
place their headquarters should they
visit Hot Springs.
Mr.. George Jamison, brother-in-l
Of Engineer Watson Philips has ex-
erted himself to make my visits here
pleasure. George and family are
doing well as is DR.. Wade and family
DR.. Wade's wife is also a sister Of Mr.
Phillips.
| am having a great time, taking a
full course of baths at the Maurice
one of the most up-to-date places
here. Best regards to all.
Very truly,
w. H. BEAT0N.
The Lexington progress. (Lexington, Tenn.) 1884-current, 1921-04-08
CEDAR GROVE.

Leo and Frank Presley visited in
Decatur county Sunday.
Murray Duck and family spent
Friday night with w. F. Duck and
family.
Mrs. II. F. Austin spent last week
at the home Of Garley Scott visiting
her new grandson.
Mrs T. l.. Hobbs and Mrs. Joe
Stanfill visited their parents here
last week.
Esq. Maness passed through Satur-
day with a fine drove cattle and hogs.
Ernest Haney and family visited l..
r. Newman and family Saturday and
Sunday.
A. ]. V. Frank, Charles, H. l., z.
II. and Yancy Duck, L. r. Newman,
Ernest Haney, Walt Edgin and 9TH
ers, spent Saturday and Saturday
night on Doe Greek, fishing
Bob Chalk and Robert Goff were in
Scott's Hill on business Saturday.
Farris Duck and family visited the
family of Chas. Maness Saturday
night.
Prof. Charles Scott visited his un-
Gle, Z. II. Duck, Sunday.
Mrs. Mollie Eason and family Wis
tied near Doe Creek Sunday.
The infant child of Perry Carroll is
right sick.
Dali Stanfill and family visited at
Bob Chalk's last week.