davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1921-02-21
HERR|CK & Bennett,
n. Y. BROKERS, FAIL
Unauthorized Speculation by
Office Managers Wrecked
Business, Partners Say.

NEW YORK, Feb 21.-The failure
of the firm of Herrick & Bennett was
announced from the rostrum Of the
Stock Exchange today. The company
is a prominent stock brokerage and
financial house.
A statement was issued declaring
that heavy unauthorized speculation
of our office managers and large
losses sustained by them" was respon-
sible for the smash. A general as
signment was made.
The statement declared none of
such speculations or losses were
known to the FIVE partners compris-
ing the firm. The office managers
were charged with studied failure to
have favored customers cover margin
calls"
1--WE had no information as to our
office managers activities until last
Saturday afternoon. when we discov-
cred the situation and one of them
made a clean breast of their activi-
ties" said the statement.
"The hasty and cursory examina-
ton of our books which we were able
to make over Sunday convinced us
that the best course to pursue was to
make a general assignment. Time,
however. has not permitted us to as
certain the exact condition of our af-
fairs, but we hope our condition is
only temporary"
The firm consists of w. Wilson Her
rick. L. Eversley Bennett, Frank l..
Scheffey. ]. II. II. Rebhann and Frank
lin w. Palmer. tr.
The Washington times., 1921-02-21

problems OF competition 10 solve. must
OF necessity have always at hand .
large store OF capital to enable IL to
take advantage OF markets and TO
swing its enormous enterprises.
Formerly the sts.aars OH policy
restricted stock TO one class. and they
never borrowed.
But conditions have changed and
make necessary the introduction OF new
capital; and the cheapest and most ef-
fectusl way to get tit 10 proved by
experience-is to issue preferred stock
or notes, or both, as In the case OF tha
Atlantic RensisH Company.
1t 10 true that the company's earn
ings are large. IL 10 estimated that
1913 q share was earned on the com.
mon stock in 1920. against SIT In
1919. 1t would seem TO the average
investor that such large earnings
should be put back into the property.
Doubtless some Of II was. but CONF
pany that 10 fortunate to make such
tremendous profts must of necessity
have a vast amount OF working cApi-
tai. and, therefore. IL was all right
and proper for the company TO ISSUE
preferred stock and debenture bonds.
The issuance Of these securities In
no way jeopardizes the position of the
common shareholders, and your stock
Is really made more valuable instead
OF less so. The stock has not declined.
II is still around 1900 . share. No
popular error 10 more unfounded than
the common impression that powerful
corporations at times seek to crowd
out the small stockholder. Like all
error. II proceeds from lack OF knowl-
edge and vanishes the moment we
permit ourselves to face the facts.
Hold yOur stock.
The Washington times., 1921-02-21
CLEANING UP FREIGHT OVER
CHARGE CLAIMS.

L. J. Tracy. acting comptroller Of
the u. s. Railroad Administration. has
sent a circular letter to all railroads
stating that effective at once no
claims against the director-general
for overcharges in connection with
freight, passenger, demurrage. stor-
age or other transportation service
will be accepted. Claimants are ad-
vised to file any such claims with the
Commerce Commission on or before
February %.
Carriers are also requested to pre-
pare and file with the commission on
or before that date a statement of
unsettled overcharge claims on hand.
The Washington times., 1921-02-21
FOREIGN EXCHANGE.

NEW YORK, Feb. 21.--The foreign
exchange market showed distinct i'm
provement at the opening today, de-
mand sterling advancing I cent, to
S3.S8h. Francs rose 8 centimes, Bel
gians o centimes. lire and marks 1
point. Quotations are: Franc cables,
III; checks, 7.16. Lire cables, 3.64;
checks, 3.63. Belgian cables, 7.46:
checks, 7.45. Marks, 1.59. Guilder ca
bles, 1920: checks, 341O. Sweden
kronen cables. 22.35; checks, 22.30.
The Washington times., 1921-02-21
BEARS CONTINUE
STOCK MART RAIDS
Moves Against Many Specialtles
Cause Acute Unsettlement
on n. Y. Exchange.
By MAN HAbEs
I.t~r-.tieasI News Service Ffsaseisi
Edttsr.


International News Service Fi.sse's'
Edttsr.
NEW YORK. Feb. IA compina-
ton OF bearish Developments was re-
nected In acute unsettiement In the
early trading on the stock market TO-
day, with most OF the pressure being
applied against many speciaities
which sustained sharp losses On
The bulk Of the selling was said to
come from operators at southe,n
sorts. The failure OF the STOCK ca.
change firm OF Herrick ana benhe'
had an unfavorable enect on piioes
from the street today. because OF the
holiday tomorrow.
ATLANTIC GULF FIREWORKS.
Atlantic Gulf continued to furnish
the fireworks In the forenoon puh-
ness, following up it's ib-point crop
on Friday and Saturday OF iast week
with a further break or points TINS
morning on the news from Chicaso
that the minority stockholders had
decided to institute receivership
proceedings. The stock got down to
a new low of 42h. but on covering
rose to above IS In the early AFTER
noon.
International Paper was announcer
weak feature, the recent reductions
In the price of newsprint being re-
Elected in a drop Of points today.
AMERICAN WOODEN IN SUPPLY.
American Wooden continued In
supply, falling over 3 points to b7h.
A noticeable feature in connection
with the break in this issue Is the
lack Of banking support which FOR
merly was quick to appear when
ever the stock was pounded. United
Fruit was also weak. yielding TO
lO2k, a loss of over points.
The oil shares were also very weak.
the fresh announcement Of cuts in the
price OF oil being partly responsible.
Mexican Petroleum got down to 1854
a loss OF over four points, while Royal
Butch broke over two points and Pan
American Petroleum yielded close to
two points.
The weakness also extended to the
motor and rubber issues. Chandler and
Studebaker falling about two points
each, while u. s. Rubber slumped
three points. Ajax Rubber fell one
point, to PIN.
The Washington times., 1921-02-21
sTRAUs COUPON BONDS.

n. n. EVIL you kindiy STATE
your opinion of the following as
Investment. Including AZ nossible.
,,,o-.,- .s .
'"''' ,"a''oh "heeher an in'eo'
may De forced into litigation 10 Sc
cure return of principal In case Of
default.
w. sFs"s nrss ~srtssSe se"si
The Washington times., 1921-02-21
LIBERTY BONDS
NEW YORK COFFEE.
Furnished by w. b. Hibbs 4 Co.

NEW YORK, Feb. 21.-The Coffee
Market opened 2 to s points lower
today.
March. 6.4546.4I; May, 690T6. 95;
July. 7.37Q7.4O; September, 7.75 bid;
October. 1855 bid: November, 7.95 bid;
December, S.12 offered.
The Washington times., 1921-02-21
STEEL SHARES HOLD.

The Steel shares held fairly steady.
Fractionally below Saturdays close.
Steel common shaded off slightly
while Baldwin after selling of over
point displayed good rallying power.
The declaration Of the usual divi-
dend on Central Leather. preferred.
was responded to with an advance OF
, points in that issue. The common
rose 1 point.
The copper issues were weak. be-
ing sold on the unfavorable earning
statements announced during the
forenoon. Utah Copper sold down
over two points to sos.
The Washington times., 1921-02-21
FEDERAL RESERVE RATIoNs.

Following is the ration of total
reserves to net deposits and Federal
reserve note liabilities. according to
a statement made public today by the
Federal Reserve Board:
New York, AT; Philadelphia. 51.5:
Cleveland, 6S.S; Richmond, 4S.9; At
lanta, Al; Chicago. 61.9: st. Louis.
SAB: Minneapolis. 40; Kansas City,
AS. and Dallas, 400.
The Washington times., 1921-02-21
FEELS AGGRIEvEn


w. HI own stock In Atlantic
Refining Company. which / bought
when there was only one class of
stock. with the idea that 1t was an
investment.
The company In October, 1919.
sold S2O.00O,OO0 new preferred stock,
and now plans to borrow $15,000,OO0
for ten years at Z per cent. In fact,
the 5000, 900 debentures have been
put on the market.
IL this company Is making the
money II claims, / do not see why
IL is necessary to borrow money at
high rate of interest and also issue
a big lot of preferred stock to come
ahead OF the common stock. as
think the earnings rightfully belong
to the common shareholders.
To large holders who bought
years ago at low prices 1t may seem
all right to put these obligations
ahead OF the common stock, but it
does not seem right to the small
shareh older who paid a big price.
Are the small shareholders OF
powerful Standard Oil companies to
be treated like the dupes of fake
oil stock? In my business. IL l am
making money. do not have to Dor
row. Why does the Atlantic Rem
Ing Company have TO do it?
Answer-Thcre In = vnst difference
between the way q small private busi-
ness enterprise In conducted and that
of a hig corporation.
The small merchant or small manu-
facturer is usually enabled to conduct
his business without much. il any
The Washington times., 1921-02-21
LOCAL STOCK EXCHANGE.

Washington Gas TVS featured the
session Of the Washington Stock Ex-
change today. $4,000 of the securi-
ties going at 1904. while $4,000
brought 100%.
80, two of the denomination of $500
selling, while forty shares Of the COM
pany's stock sold at 40.
Following call five shares of Capital
Traction sold at IS.
The Washington times., 1921-02-21
c. & n. w. Seeks Bond Issue.

The Chicago and Northwestern to.
day asked the Interstate Commerce
Commission for authority to issue and
pledge s1b,000,0o0 of general mort
gage gold bonds for the purpose Of
retiring existing bonds. The road also
sought authority to execute a trust
indenture and to pledge Hereunder
the bonds issued and $4,000, 900 of gen
eral mortgage gold bonds now In its
treasury. Authority also was asked
To issue and sell $4,000, 900 Of ffteen-
year 81 per cent secured gold bonds
to facilitate ~ sstirsaAnt Of existing
bonds.
The Washington times., 1921-02-21
MEXICAN DELEGATION TO TOUR
u. q.

tho conference Of the Federal Cham
Der of Commerce of Mexico will leave
Mexico. February IS, for tour of
twenty-five of the principal cities OF
the United States. according to
announcement in local business
circles today. The object of their
tour is to invite commercial bodies of
the United States to send representa-
tives to attend international congress
Of merchants to be held in Mexico
City from June IL to June 16.
The Washington times., 1921-02-21
w BUSINESS AND FINANCE
Investors Service


The Tn .:s.is' :1ss hs sS.as ana M
be
Asns building Washington ID c
The Washington times., 1921-02-21

The largest diamond in the world
is owned by the Rajah Of Borneo and
weighs 367 carats.
The Washington times., 1921-02-21
LOCAL SECURITIES.


SALES.
Washington Gas. De. ssoo0 ".
300 o 80. 80
Washington Gas N.ooo0
l0oh, si.oooglooh. si.ooov ioo y.
VI 900 o i0oh. 1900 0looh, loooo
ieoh. $1,000 9 100 \. Si.ooo 10y 9,
iooM, 81, 600 o Ioo.. $1,000 0loox
a 900 q OOx, 1900 o iook.
washington Gas Light. 500.
After call
Capital Traction. b0ss.
The Washington times., 1921-02-21
CHICAGO PROVISION MARKET

CnICRuU FnOtlSIUN MAINE ].
Furnished by Thomson & McKinnon.
Previous
Open. High Low 1915 Close
PORK
May 2O.S5 20.s5 20.sO 2O.sO 2o.ob
LARD
May 1900 1900 11.97 11.e7 1902
July 1887 1887 1887 1887 1897
May 11.2o 11.2o 11.o5 11.o5 11.2o
July ... ..... ..... ... 11bb
The Washington times., 1921-02-21
CHICAGO GRAIN MARKET.

FURNISHED " Ano"son q Mckinnon-
1918 Prev
open. High. Low. p. M. Close
WHEAT
May. -. 1914 1917 1917 1924 100
March,. III 1871 III 172h 10
CORN
July. 7ah "a a TAN 72%
May. ASH 46% ASK 4sA ASH
July. ~ an ~ 47A ASH
The Washington times., 1921-02-21
OIL STOCKS

Furnished by W. b. Hibbs & Co.
Prices at noon:
The Washington times., 1921-02-21
CURB MARKET.

Furnished by W. B. Hibbs & Co.
Drtcau nnnn.
The Washington times., 1921-02-21
GTOCKA

d. c. Paper Mfg. IS ...
Riggs Realty SIS (short). %
The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-02-11
CHIPPEWA LAKE

A. H. Leohr and Levi Derhammer
are in Columbus this week attending
the tractor show. 6sS4 (
Rev. A. E. Fair writes that they
will be home Thursday or Friday Of
this week, and there will be preaching
at the usual hour Sunday, providing
there are no new cases Of smallpox.
There will be preaching at the
Northwest church Sunday morning
at 10 o'clock.
There is drive on for Sunday
school attendance at the Waltz church
A. D. Miller is sending out personal
letters to the non-attendants, asking
them to report for duty. Good idea,
Bro. Miller, keep up the good work.
Dewey Eakens has hired to Blake
Derhammer to work on the farm for
one year.
Stock statesmen are getting on the
job again. Some one has said that the
only difference between a stock sales
man and holdup man is that the
stock salesman talks you out of your
money and holdup man sticks gun
under your nose and takes it, qs
The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-02-11
MAKE TESTS TO FIND
PASTURE IMPORTATION


Information regarding the fertili-
zation of pasture is being sought by
the Ohio Experiment Station in tests
on the Tru1nbull County experiment
farm, Courtland.
A number Of plots have been laid
out in permanent pasture which are
fertilized and treated in various
ways. The tests cover the use Of ma
nure limestone and acid phosphate in
various amounts.
So many acres of Ohio land are de-
voted to pasture and the rapidly dim
inishing returns from these lands
have made it necessary, it is stated,
to work out an accurate system Of fer
tilization and rejuvenation.
In southern Ohio, on hilly lands, it
has been found satisfactory to ferti-
lie pastures heavily with acid phos-
phate and the re-seed. This eliminates
plowing the land in hilly sections.
The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-02-11

Piesse do not ask the telephonc OPP
orator to ring the post office, as they
have been requestednot to do so. Mrs.
Boone's residence telephone No. is
273. You may call that number any
tina you please.
On returning home from Elyrfa
Saturday nigt Mr.. T. J. Curtis
found an auto parked in his lawn. He
found the owner and requested that
the auto be moved, as the ground was
too soft for parking.
The following clipping from the El-
yria Telegram of Feb. 5, will be Of
interest to the people Of Spencer and
vicinity:
Members of the Spencer Dramatic
Arts Society. who journeyed to this
city, last evening, to enjoy banquet,
were not very much impressed with
prietor Woods Of the Andwur Coffee
shop, where they were supposed to dine.
Neither the food nor the service APP
pealed to them as Eeing first class.
The Dramatic Society had raised
schools and to show his appreciation
of the efforts put forth by the members
of the east, Superintendent pIIardinger
and his. wife, invited them to be their
guests last evening. W '@,S \
Superintendent Hardinger informed
Mayor Jones' this morning that he had
contracted with the Coffee shop to
serve three course banquet to thirty
guests, but after the soup and chicken
had been disposed Of. the hosts were in
formed by the proprietor that the BAN
quet had been concluded as far as the
restaurant was concerned. The guests
adjourned to the Paradise grill. for
ice cream and cake. H 4
This action on the part Of the pro-
prietor, led to an argument which rez
suited In Woods requesting the police
to issue warrant for Superintendent
Hardinger, but the mayor refused to
grant the request and suggested that
they settle the case out Of court.
Woods secured an attorney and the
case was finally disposed of by the
Coffee House proprietor accepting the
offer made by Superintendent Hardin
ger last night, but the latter refused
to pay the contract price. @
The police and the mayor, very much
regret the unfortunate incident, as they
consider it mighty poor advertising for
the city, but Superintendent Hardinger
| begged the mayor not to pay the Slight
est attention to the dispute, as the city
was in no way to blame for the trouble
| which marred the visit of the party to
this city. +ia
The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-02-11
LAFAYETTE

There is going to be moving pic
ture show at the school house, Thurs
day, Feb. "a. The play is entitled,
"Kidnaped", taken from one Of Rob
ert Louis Stevenson's boks. The Y. M.
C. A. secretary is giving it. They are
also going to bring their music with
them. The proceeds 60 the the Ep-
worth League. Do not forget the
date Thursday, night, Feb. "a.
Mr.. Van Nostran and family who
have lived the past year on Chas.
Maytham's farm, have rented the
Henry Lee farm south Of Seville and
and expect to move there soon.
Mrs. AL. Lance who has been sick
for the past several weeks is better,
her daughter, Mrs. Henry from Sterl-
ing, is taking care Of her.
Icie Bowman and Mr.. and Mrs
Chas. Baker of Wellington visited
over Sunday at Perry Bowman's. \
! Mr.. and Mrs. Albert Snyder enter
tanned the Threshing club last We'd
nesday night. s4 aGl
Mrs. Arthur Lance entertained the
Ladies' Bible class Wednesday after
noon.
Miss Arvilla Shelter was home over
Sunday.
Mrs. Frank Stackhouse is still in
Cleveland at the home Of her daugh-
ter, Mrs. Melvin Reese, who is at the
hospital, and sh is no better.
The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-02-11
SPENCER NEWS

The Spencer Tigers will play the
White Eagles on the Spencer floor
Saturday night. Come and see a
good game.
Born to Mr.. and Mrs. Fay Robson,
Monday night, a baby girl.
The Philathea class of the M. e.
church will hold valentine dinner at
the town hall Monday. Everybody is
invited to come and fill up.
The Maccabee ladies met with
Vina Betchtel at the Bungalo on
Thursday of this week.
Mrs. Leola Peabody of New Wash
ington visited friends in town last
week.
At last Spencer school has it's full
quota of teachers and is beginning to
run smoothly once more.
Mr.. and Mrs. John Burbage were in
Elyria last week.
Don't forget that Feb. IL is the an
niversary of Lincoln's birthday. The
least we could do to show our love
for this wonderful man is to fling
the Stars and Strips to the February
breeze.
The many Spencer friends of Mr.
Sweet of Chippewa Lake were sorry
to learn of his illness.
Mrs. Alfred Fuller visited her sis
ter in Norwalk this week.
Mr.. Mark Fuller and Alfred Fuller
are in Lima attending convention.
Mr.. and Mrs. Jacob Ffrestone are
back from their vacation in Mac.
clcnny, Florida.
Ralph, the invalid son of MI. and
Mrs. Fisher, is very i'll.
| Mr.. and Mrs. Elmer Firestone were
in Shilo Sunday and Monday, visit
ing Mr.. Arlo Firestone who expects
to go west for his health.
MIR. and Mrs. Frank Miller wer:
] in Wooster last week. I.
The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-02-11

Mrs. ]. Fl. Grfesinger and daughter,
Hrs. John Fowler of Duluth, Minn.,
visited at Kemary and Billman
homes, Sunday and Monday.
Miss Ruth Allison, who is attend
ing Oberlin college, was horne over
Sunday.
The little daughter of Mr.. and Mrs.
Clark is very i'll with pneumonia. \
Paul, young son Of Mr.. and Mrs.
Harry Welsh was taken to Elyria
hospital last week for an operation.
He is getting along fine so far. !,
Mr.. I. ]. Betz of Five Points pas
se.i away Monday night after an i'll
ness of about year. He was at a
Columbus fospital sor a while this
winter and returned home few
wxtks ago. Funeral was held Wednes-
day in the M. E. church and burial
IL the Spencer cemecev.
DR.. and Mrs. DonaL! Forward of
East Cleveland spen, the weekend
with DR.. and Mrs. Plcthy.
Mr.. Frank Aldrich has rented his
farm and will retire from active farm
E1s.
Mrs. Hattie Newton of Mirhi,:an
virited fr.cnds and relatives in town
lae, week. tt.l6 JE
The bonneville boys and girls
came to Spencer last Friday night
for a friendly tussle at basket ball.
bonneville has no indoor place to
practice, but the boys put up good
fight. It was the first game for the
girls and some Of them didn't know
what to do with the ball when it was
pitched to them. However, they have
the makings of good team.
The many friends Of Mrs. Martha
Heard will be glad to know that she
is convalescing. and if the weather is
nice she will be permitted to be out
Of doors the last of the week.
The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-02-11

Schools are still closed, but they
will probably open next week.
The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-02-11

ar
The Medina sentinel. [volume] (Medina, Ohio) 1888-1961, 1921-02-11
NOTICE!
Delinquent Tax Certif1c cation
3R#4 a Ss Medina. Ohio February g,

delinquent by the Treasurer Of Medina County, Ohio, with Ne
contained described in the following list
The New York herald., 1921-12-04
1876

Victrola No. SO. ........ 10000
10 inch Rcd Seal Record. :. LIS
10 inch Double Face Records 2.55
10 inch Record Holder. 49,. so
IL inch Record Holder. .. go
Record Brush. ..... is
1000 Needles. cs........ so
-a-------
l05.55
The New York herald., 1921-12-04
Five Victrola Outfits
Special Offers

There is nothing humdrum or monot-
onous about home life once a Victrola
enters its portals Friends drop in to
listen to a concert and join in Dance
the young folks find they can have a
regular good time" and even Dad dis
covers there are other things in life be-
sides his evening newspaper.
If you want to be sure of your Christ
mas Victrola drop in and order it now,
while the particular model you desire may
still be had
The New York herald., 1921-12-04

dock at Tietjen X Langs Hoboken,
yesterday customs search and seizure
squad discovered twenty-four cases of
whiskey aboard. The freighter arrived
Friday from Santo Domingo. The officers
The New York herald., 1921-12-04

hearing by Magistrate Simpson. Detec-
tive Sexton is now out on 5000 bail
awaiting "A hearing.
Immediately after the Clyde Line
freighter Yake had been placed i'm dry
The New York herald., 1921-12-04

had difficulty removing the liquor, but
finally one of the squad who formerly
was an engineer got the steam derrick
in operation and the cases were lowered.
No arrests were made.