davidaulloa/AmericanStories huggingface dataset:
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
LAKELAND'S CREDIT
ASSOCIATION ALMOST
READY FOR BUSINESS

Announcement comes from Orlando.
the home of A. f. Dickson who is
about to establish the Lakeland Credit
Association. that this new enterprise
is making satisfactory progress and
the completion of the organization
has been entrusted to James w. Rams
dell, of Lakeland, who will be the
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
ATTORNEY GENERAL GIVES
OPINION ON EFFECT OF
NINETEENTH AMENDMENT
MUCH CONFLICT In
REPORTS FROM RUSSIA

London, March 10-Reports from
Russia regarding the revolution
against the soviet regime continue
obscure and conflicting One llelsing-
fOrs dispatch states that Russian
agencies issued statement that the
fate of Petrograd is still in the bal
ance and denying that revolutionary
troops are occupying three-quarters
of the city.
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
NATIONS EDITORS
IN SESSION AT
ST. AUGUSTINE

st Augustine. March l0-The hus
mess session OF the National Editor,
ial Association convention got under
way here today, the members arriy-
ing last night from Jacksonville af.
ter spending three days on the way
from Pensacola where they entered
the state. Business sessions will con
tinue through Saturday.
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
WOMEN OF LAKELAND 4
START BALL ROLLING
FOR BETTER SCHOOLS
DADE COUNTY GETS BIG
OFFER FOR COURT BLOCK

Miami, March lU-Onr million dol
lars was offered for the hlurk urctl-
pied by the Dadp county court house
here. some question has arisen rs,
to whether the county can sell aHd
the county attorney was instructed
today to draft a Legislative act au-
thorizing such action. Flaglpr gave
the block to the county in 1896
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
Aaree on Treaty Vote

Washington, March l0.-An agree.
ment to defer action on the Colom.
fbian treaty until the April session Of
congress, and to vote upon the treaty
on the eighth day after congress con,
venes, was reached today by the sen,
ate
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
(By Associated Press.)

Paris, March lot was stated a..
the foreign Office today that negotia
tions were under way between the
French embassy at Washington and
the state department in an effort to
induce President Harding to favor the
acceptance of a modified league of ma.
tiCnS.
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
COSTA RIGA TROOPS
ORDERED HOME BY
THE GOVERNMENT
(By Associated Press.)

San Jose, March 1O-The demob-
ilization of the Costa Rican army
which crossed the Panama frontier
and drove the forces of that country
back, has been ordered by the gov.
eminent
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
RUBE ALLYN GOES
BACK TO RESUME
WORK ON PAPER

Bradentown, March 10.-Rube AL
lyn after spending sixty-one days in
jail here charged with the murder
of Harry Higel, and released yester-
day when the grand jury failed to
find a true bill for lack of evidence,
left by automobile for Tampa this
morning, enroute to ST. Petersburg
to resume charge of the Florida Fish
ermann .E4so Ii
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
COAST LINE OFFICIAL
KILLED BY THE, TRAIN

Jasper, March 10.-Captain ]. w.
Anderson, division roadmaster of the
Coast Line railroad, was instantly
killed here today while attempting to
hoard a moving train.
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
ComptrolIrr Nominated

ID. r. CriSSinger. attorney and bank
er, Marion, Ohio. lifelong friend ol
President Harding. was today nomi-
mated for comptroller OF currency hy
the president
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10

Ford Motor Co. is reported to have
arranged with 4 German metal CON
cern for the establishment of 4 pillow
factory in Germany.
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
DOUCHTERTY FORMALLY
,ial GIVEN CARDINALS HAT
nnR IL.
N .(By Associated Press.l

Rome, March 10.-Cardinal Dough-
erty Of Rhiladelphia, and two others,
were Formally received into the 500
red e6ll66S a m u alifsns
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10

A New Britain. Conn, loan corpOr-
alton. controlling 39 tenements. has
announced a flat cut of s. in monthly
rents.
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
Panama Rejects Award

Washington. March 10.-The repub-
lie of Panama has refused to accept
the White award as a basis of peace
with Costa Rica.
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
Temperatures Elsewhere

The first column indicates highest
temperature yesterday; the second,
lowest last night, and the third pre-
cipitation
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
THE WEATHER

The high pressure area which was
over the middle plains states yester-
day morning has advanced eastward
over the Ohio valley. 1t has caused
cooler weather generally east OF the
Mississippi with temperatures of
freezing or below over the Lake re-
gion. Pressure is relatively low over
Florida. Rain has fallen during the
past "a hours over the Atlantic and
Gulf states and the Ohio valley. but
has been followed in most places Dy
clearing weather
In the west, the low pressure area
which was over Montana, has moved
southward over Wyoming, and has
caused warmer weather over the
Rocky Mountain Plateau regions and
the plains states. Rain has fallen on
the north Pacific coast. and rain or
snow over Montana, North Dakota
and Minnesota
Indications are for fair weather in
the vicinity of Tampa tonight and
Friday, slightly cooler tonight
WALTER j. BENNETT
TpmDn NFaptbap Rurautt
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10

A prohibition agent testified at La
Crosse, Wis thai h. pitched three
tens of hay in ii farmers barn to an
cover L nest of jugs filled with mo N
shine.
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-03-10
WEATHER FORECAST

Lakeland and vicili-
ity. Fair tonight and
Friday. Slightly cool
er tonight.
New-York tribune., 1921-06-01
Financial Itenas

Marshall sid, Gloro. Ward & Co.. OF
Chicago, a ounce the admission TO the
firm of Edward p currier and J. Taylor
Foster and the opening OF office at 4
Wall Street. New York, under their di-
rcction.
Rudolph Guenther.RusseIl Law. Inc.
financial advertising agency. has removed
its offices from % Broad Street to it's
newly completed building at 1S1 Cedar
Street
Edmund P. Tate has resigned as assist :
art treasurer of the Guaranty Trust Com
pany of New York. and Walter A Mayer
has resigned from the firm Of Aberti
Baird & Carleton. Inc. TO form the insur-
auce brokerage corporation OF Tate. Mayer
& Co, with offices At 81 William Street.
Herman Krech, for many years with the
Chase National Bank. has resigned the
man.gershp of its foreign department. aues
has joined the firm OF Orr. Carver & Van
Dyne. brokers in foreign exchange. as a
special partner.
The Chevrolet Motor tonpany announces
the resignation Of w. c. Sills as general
manager OF sales. on August l Mr.. silla
will return to Boston and resume distribu-
ton of Chevrolet ears in New England.
He will be succeeded by Colin Campbell
who has beeu executive assistant to the
general manager OF sales for FIVE year1,
New-York tribune., 1921-06-01
Bank OF Americas
Gets $2O,0O0,O0O
Additional C.asE,
Stockholders Help Provide
Fsands 10 Euable Mercan-
tile 10 Meet Needs i'm
Cuba and South America

To provide additional working capi-
tai to meet the pressing needs of it's
customers in South America and else
where, the Mercantile Bank of the
Americas has obtained S2o,0o0,000 in
new cash from its stockholders, accord
inw to formal announcement made
y4 eday.
The statement issued at the New
York Office said: "The Mercantile Bank
of the Americas announces that it's
stockholders have, through increase in
its capital stock and otherwise pro-
vided $50 100000 of new cash. In adj
dition, arrangements have been made
for credits to facilitate tho work of
the bank in dealing with it's require
ments.
This will enable the bank to meet
the needs of it's customers arising out
of the stagnation in commodity mar
kets and the dislocation of the ex-
changes, and to maintain the close re-
| iationS which it has been able to
establish between the United States,
Cuba, Central and South American re-
pubics."
The present capital of the bank is
$500, 900 and no announcement was
made regarding the exact amount of
the capital stock when the present plan
OF expansion is completed. The details.
1t was explained, would be made public
shortly.
The Mercantile Bank Of the Americas 9
has fo eight branches and affiliated
institusions in different parts of the
world, with the largest part of it's busi-
ness concentrated III the Western Hemi-
sphere. Capital and surplus combined
amount to approximately Sl1 100000.
1he new funds that are being nut
into the business will be used largely
IN making advances to customers in
South and Central America and Cuba
tor crop planting and other purposes.
The fall in the exchanges and prices
OF agricultural products has necessi-
tated the, extension of loans to plant
ters and has accordingly increased
the demands upon the bank from its
customers for credit
Inc three principal stockholders of
the bank are THE Guaranty Trust Com
pany, j. & w. Seligrnan & Co. and
Brown, Brothers g. Co. The Other
stockholders include the Columhis
| Trust Company, the Continental and
Commercial Trust and Savings Bank
OF Chicago, the Hibernia Bank and
, trust Company Of New Orleans. the
anglo and London-Paris National Bank
OF San Francisco, the Guardian Trust
Company of Cleveland, the National
Shawrnut Bank of Boston and Adolnb
| 6tahls OF Schwartz & CO., Of Guatemala
New-York tribune., 1921-06-01
New Copper Contract

In an attempt to broaden trading the
New York Metal Exchange, beginning
to-day, will put into effect new form
of copper contract, whereby what is
known as standard copper will be
bought and sold under the same con-
ditions of delivery as prevail on the
London Metal Exchange.
J. Fl. Lang, president of the local
Metal Exchange, said yesterday that
was hoped there would be more gen.
erai trading i'll copper, which would
keep at home much of the business
which has been going to London. Since
the two contracts as to deliveries are
identical, arbitrage operations be-
tween New York and London will be
possible.
Under the new contract each unit Of
twenty-five short tons of copper sold
as standard copper can be delivered
in any of four different classes. Class
A deliveries consist of refined copper
assaying 99.8 per cent copper or bet
ter, such deliveries commanding a
premium OF Il cent pound over the
standard quotation. Glass deliveries
consist of refined copper assaying be-
tween 9e.3 per cent and o9.8 rer
cent copper and command a prem
ium of u cent pound. Class
G deliveries consist of refiled
copper assayirg between 80 per
cent and 99.3 per cent. Class D
deliveries 97 per cent, such deliveries
paying a rebate of ss cent 8 pound.
Copper assaying less than aA per
cent will not be good delivery. De-
liveries assaying between 81 and SO
per cent are to be accepted on pro
rata allowance for deficiencies.
New-York tribune., 1921-06-01
Hudson & Manhattan Adjustments

Question: IS good or bad about
Hudson &; Manhattan adjustment IS? Are
Trey IN =, Gumulatiye3 Is the interest earned
OF late? Why are they selling for So? I
believe that this company, if earning
money now, should improve In the future,
as all utilitiea should do. Their income is
practically assured and expenses arc com
Ing dowp-steel. copper, coal, all material
IN fact--and labor must surely follow. Any
utility that misses receivership certainly
looks like sure winner TO lne.--P. c. 3.
Answer-Interest on Hudson & Man
haitian adjustment 5s was not cumu-
lative until January !, 1920. 1t is now
cumulative. 1t is payable only if
earned. The bonds are junior to s44,-
367,232 other bonds. The steam rail-
road situation and New York City
traction situation are both in such an
unsettled state that we would not rec
ommend them as investments, not
withstanding the fact that we agree
with you in most of what you say in
regard to the public utilities. The
earnings of the Hudson G. Manhattan
IN the three months ended March 81,
1921, were $1,077, ,067 and interest
charges, including interest on the ad-
justment IS, called for $1,o10,768.
New-York tribune., 1921-06-01
Reserve System
Policy Reviewed
BY A. C. Miller.
LII unctioning Had Been Ef-
fective in 1919, Distress
of 1920 Would Have Been
Eliminated, He Contends

Ii the Federal Reserve System had
functioned as effectively in 1919 in re-
gulating credit as it did in 1920 in re-
tardins and eventually arresting ex-
panslon, it would have rendered an in
estimable service to the country and
would have prevented many of the un-
healthy developments which gained
such Roadway, according to A. C. Mil
Ter, of the Federal Reserve Board. in a
discussion of Federal Reserve policy in
the June number of the American
Economic Review
How much Of the business distress
and economic hardship experienced by
the country during the past year" he
says would have been avoided had the
Federal Reserve System been in a po-
sltlon TO pursue discount policy in
the second half of the year 1919 such
as the trend of development clearly
course be determined. Much of the
hardshrip suffered by the country in
1920 might, however, have been avoid
ed by the adoption in 1918 of an effec-
tive precautionary policy of credit
control. beginning was made by
the slight advance in discount rates
on war loan paper on December Il,
with every expectation and intention
on the part of the Federal Reserve Sys-
tenn in assuming full control of it's
discount policy with the advent of the
year 1920
Up to this time, Mr.. Miller says. the
Reserve Bank policy continued to be
subordinated to the Treasury policy.
Thus was the Federal Reserve System
controlled in the matter Of its dis
count policy at the very time when the
interest of the country at large re-
quired that it should be free of control
in order that it, itself, might control
The action taken by the Federal Re
serve Banks in 1920, in advancing dis
count rates, Mr. Miller explains, was
taken. not primarily to protect their
heserves, but to control the rate of
expa sion Of credit.
TIE suggestion is made that 1t might
be advisable TO change the method of
working out reserve ratios so as
to make them better indicators of
credit conditions. He points out that
it is of first Importance under any sys-
TEN OF reserve banking, which under
takes to govern credit by primary re-
ference to the reserve ratio that the
reserve ratio should fall and rise in
New-York tribune., 1921-06-01
Hopes to Make Up His Loss

ouestion-rIncosed please find 4 contem-
plated switch on witch | would be pleased
to amortIae the loss in my Erie bonds
which cost me 10, also tho New Haven
The Liberties l subscribed to at par. and
the Wabash preferred cost me 4g@. 1t
wos also suggested that I buy the follow
Ing to take the place of my proseut invest
general 6s. due 1851 (when iasuedl 50 600
ahniaeo ahn rs, g. series G. due 1928, and fifteen
preferred. With this plan would
hold tho Liberties The other sug-
gestion was to buy the following: $1,000
Swiss Sa 900 Cerro dc Pasco So (on
the strength OF the good conversion
privileged $1,000 Northwest Bell rs. 1900
Chicago & East, Illinois general 5s (when
preferred. The fault with these last two
suggestions is that am not amortlzing my
losses but simply throwing part of my
must be secure. My idea is to CELL $4,000
Erie general lien As, due 1896; $4,000 New
York City. las (Bron% zoo), due November
J., 1853; $1,000 New Haven debenture S.
due 1948; $1,000 Liberty third AXIS, due
tV2Si $500 Liberty second 4As. duo 1942;
$4,000 Chicago & Alton refunding 3s due
l9Asi 1000 Western Maryland first mort
gage q, 1859; s. 900 GuIf Oil Corporation
rs. due 1919: $1,000 Chicago &. East illl-
nois general 5s (when iasued). due 1851;
$1,000 Republic of Chio Ss, duo l94I;
$1,000 Liggett & Myers debenture 5s due
arc all registered.--R. "
Answer--We consider the Western
Maryland first 4s as safe investment
and the Gulf Oil rs as good invest
ment. The Chicago & Alton refunding
3s are safe as to principal and in the
bong run as to interest, in our opinion.
but VIC would not recommend them to
men or women who are nervous about
Investments. The Liggetb s. Myers
debenture 5s are high grade. We
| think that the Chicago G. Eastern Ilii-
nols reorganization was u sound one
and that the general 5s when issued,
| II issued as contemplated under the
plan, would be a good investment. The
Chile IS are, in our opinion, business
mans investment. We think that the
switch into Swiss IS, etc, is a little
safer than the one that would amortzc
your previous losses. To try to make
up q loss is speculation in just the
same way that an attempt to make a
profit is a speculation. If you are
looking for an investment pure and
simple the attitude of mind should be
! to see what income you can buy with
the required degree of safety with the
money that you have at your disposal
in our opinion you are right in selling
the Erie 4s, New Haven debentures and
| Wabash preferred A. The Liberties
and New York City bonds are, OF
course, high grade. The question you
should ask yourself is whether you
should want to take the money that is
invested in these and put it into other
securities in the hope of making a
speculative profit, or to get out Of
speculation and make an investment.
New-York tribune., 1921-06-01
Impressed by Theater Stock

Question: have been extended an in
vitation 10 participate in a. project covered
by the inclosed prospectus. The per
cent cumulative preferred. with a bonus
or 70 per cent common, strikes mo very
1aYorabiy. with upward OF 900 resi-
dents in the community as stockholders
It would seem certain of success Seventy
five per cent OF the common is owned and
held among officers and directors. who are
men OF good standing in the community.
DO you consider this stock worth buying
Tor income and consider the common stock
a fair speculation?-W. B. W.
Answer-The Our Civic Theater, inc.
OF Richmond Hill South stock you men
toned is not an investment, in our
opinion. The fact that rs per cent of
the common stock is held by certain
group Of men is no recommendation
for it unless they paid good money for
1T, the same as you are asked to do.
IT you, want to go into the thing for
the sake Of having q movie theater
built near your home, that is not an
investment matter.
New-York tribune., 1921-06-01

sult usill be ths annual return. II the
bond is selling beto,o par you mast
oIlow also for the appreciation Of the
principal. To do this subtract the mar
ket quotation from par, or 100, and d.
vide the remainder BY the number OF
gears tho bond hos to run before mo
turity. For example, If a 8 per cent
bond is selling at 90 and has ten gears
to run, the annual return sUiU be 6.6O
per cent. The difference bet40een pa,
and the mGrtet price DiU be 10 points,
subtractimg 90 from, 100. Diuiding ten
points by ten gears, tho quotient ao5u be
4. This figure is to be added to 6.6G
s0hick is the annual return, and the re-
suit is 1865 per cent, ,0iil give you the
approximate yield.
New-York tribune., 1921-06-01
The Market
transactions

Investment bankers look for a slacken-
ing in the flow of new security offer
llngs and hold that the market will be
better for the rest since it will facili
tate the assimilation of the heavy mass
of new issues brought out in recent
weeks. The French loan, ON which the
subscription books have not yet been
closed, did not go as rapidly as ex-
pected, although only small fraction
Of the Slo0,000,00o Offering remains
unsold The next important piece of
financing is the sale on June 8 OF Sal
100000 of S per cent serial gold bonds
of the State of New York which will
provide $l0,o00,000 for soldiers
bonuses and the balance for highways.
canal terminals and other improve
mlents. The reception accorded this
issue is expected to afford a test of the
municipal market which has had to take
an unusually large amount of new is
sues in recent weeks.
New-York tribune., 1921-06-01
U.s., in Replying
TO Dutch on Oil,
Insists on Rights
lakes Exception to State
ment That Protest Was
Received Too Late to
Affect Policy of Hague

WASHINGTON, May 31.-Exception
to the assertions OF the Netherlands
government that the United States en-
tered its protest against the Dutch oil
policy in the Djambi oil fields too late
% affect the operation of that policy
i taken By the American government
IN new note whick it was announced
today had been dispatched to The
Hague.
ohieial description Of the communi-
cation was withheld, but it is under
'.0od that 1t contains a general denial
'. assertions made in the Dutch reply
Oh April 10 and that it makes clear to
zoe Dutch Foreign Office that the
opted States has not altered it's at
"'u0s with respect to discrimination
against American oil interests.
me long history of the negotiations
saaef'aken to obtain equal opportunity
,O' American oil companies in the
pu!eh East Indies has been summar-
i1ed in the new note, and it is said
pscHlc instances are cited to show that
~ american government called to the
%eatIon Of the Dutch government the
avs indicating discrimination long be-
w w 'ae bill closing the fields was in
,uaeed IN the Chamber Of Deputies.
y was explained that two months
4 i, a representations had been made by
american Minister an application
! SUGGESTIONS had been made by an
~. s@'san oil company, and that it was
Av SA'i4 month afterward that the
&ras brought before the chamber.
a.oiA has been passed by the second
4pss' and is now under considera-
J. Asaough the note is understood not
,o,s '''ain anything which might be
|asa as threat, it is said not
An. save Indicated any modification Of
r., I'mation :, in the note of April 10
8r,,,'s might become necessary for the
tsss,I5 states to adopt some new policy
M the Dutch government.
#plaIaaaa communication it was ex-
lss T. that there was u provision in
ss L isst no foreign capital might oper-
uals., paplic ~ lands in the United States
foa s1e ae government OF the coun ry
ks asie,n shlen that capital came accorded
M /, iis,'aViieges to American citizens,
tsss sas declared that. "in the light
Sssss iature (oiD needs Of the Unified
Fsless such very limited and purely
ascps.as provisions might become in
esalss. should the principles of
aeSi o. opportunity not be recog-
# . foreign countries"
New-York tribune., 1921-06-01
Colorado < Southern
Earned $0.2l i'm 1920

The Colorado & Southern Railway
Company reported net income for the
year ended December 81, after taxes
and charges, of $2,6oe,o66. equivalent,
after preferred dividends, to 1921 a
share earned on the $3t 100000 out
standing common stock, compared with
$t,7S3,94e, or 1856 share, earned in
the preceding Year.
Operating income amounted to ST.
686458 and gr4sr income of S6,o9S,544,
compared with S4,206 68s. Surplus was
Si,926,O66, against S1,l03,946
New-York tribune., 1921-06-01

The Tribune prints each day TIE mo-
t.rity dates Of all active bonds quoted
on the Ne,o York Stock Eochange. The
retnr5, oos bond to the investor depends
upon three factors: the rate Of interest
the security bears she market price
md the distance Of the maturity date.
. hcare the precise yield on bond it
ces&plp 10 use yield tables, but the
approximate yield can roughly be figured
ont by the Jotiow,ng formula: Divide
che closing Quotntion on q bond into
tic rate Of interest it paJs, ard the re-