davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Erie Bonds and Copper Speculation

Question-Tn your Issue of August 8
you, mention Erie underlying bonds -
good Investments under certain condi-
tjona VIII you please indicate the par
ticulsr issues that come under this classif-
cutionY Assuming good demand for
copper a few years hence, and basng your
opinion upon the property, financial struc-
ture and prospects. would you prefer to
hold twice as many shares of Chile as of
kennecott? Outright purchase is con-
tefnplated. not margin Transaction. Do
you consider the buying of shares of these
companies an intelligent purchase of
future value, pure speculation? a
sound venture with merit is all that 1 re-
quire.--A. M. *. s.
Answer-The Erie first consolidated
prior lien As, due 1896, recently selling
at 56%, yielding 7.o5 per cent current
interest, are the underlying Erie bonds,
which, we think, are good investment
under present conditions. A better
semi speculative investment than either
Chile or Kennecott Copper stock, in
our opinion, is Cerro de Pasco per
cent bonds, which are convertible into
Cerro de Pasco stock at 80 1-3 The
stock was recently selling at 81, and if
the copper situation has been fairly
liquidated, as we think it has, this con-
version privilege may prove a valuable
one. In venture such as this you have
the security Of bond as to interest,
with the possibilities Of increase of
principal by rise in stock values.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Stocks Move
Up Again as
Cotton Rallies
Firmness Prevails i'm All
Financial Markets After
Setback on Previous Day;
Strength in Late Trading

After the check in the vigorous up
ward movement of stock prices on
Thursday observers waited for yester-
days fluctuations with much interest
to judge whether the impulses making
Tor continued rally had become too
weak to offset reactionary influences.
instead of passing into new phase
after fortnight of rallies, security
trices, after a quiet morning, became
ccnspicuously firmer in the afternoon
when the volume of trading broadened.
Equipment shares, notably Balwin,
American Locomotive and American Car
and Foundry were in the van of the
upward movement. The activity of che
market suggested that the initiative
was still primarily in the hands of pro-
fcssicnal spectators rather than with
the outside public. The swiftness of
the upturn of several of the specula
tive leaders indicated that surviving
short interest was covering with diff
Guilty. The rails were firm, but quiet.
The low-priced issues were the chief
gamers. At the opening, which was
reactionary, the copper stocks soon be-
came the centers of speculative interest
among the industrials, because the
directors of Utah Copper, Thursday
afternoon, had declared the regular
dividend even though it was necessary
to dip into surplus to do so. The main
strength throughout the list came late
In the day, even though the rate on call
money climbed from to u per cent.
In the cotton market, after two days
of drastic declines, following three
weeks of rapidly ascending prices, the
factors making for reaction were yes
terday Offset by influences favorable to
prices. At the close prices having
made net advance of 81 to 1925 points,
were steady. After a firm opening
there was a reaction, but the lower
quotations attracted fresh buying and
prices revealed new strength. The near
months led the advance because of the
belief that Southern rains would make
the new crop deteriorate, develop
ment which enhance the market wcrth
of old crop contracts.
Export buying and bullish sentiment
locally offset the effect of the govern
ment crop report, indicating bigger
yield than expected, and wheat prices
closed to 3% cents higher
The foreign exchanges were steady.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Nickel Plate PAYS
Dividends From
Earnings of 1919
Payment Is Made Possible
by Agreement Which Has
Been Reached With the
United States Government

Directors of the New York, Chicago
& st. Louis Railroad, commonly called
the Nickel Plate, yesterday declared
dividend of per cent on the common
stock out of income for 1919, diyi.
dend of per cent each on the first
and second preferred stocks out Of
income for 1918 and a dividend Of
21a per cent on the second preferred
out of income for 1919, all payable
September 80 to stockholders Of record
September 10. Payment of the divi-
dends was made possible by the settle
ment which the company has concluded
with the government as the result Of
Federal control
In statement issued after yester-
days meeting, which was held in
Cleveland, J. J. Bernet, president Of
the road, stated that the company's
dividend policy during Federal control
had been irregular because an agree
ment with the government had net
been reached regarding the amount Of
the guaranty and because of other
matters in dispute.
THE management proposes said
Mr.. Bernet, ITO maintain the first-class
physical condition Of the company's
property. The management also de-
sires and intends SO long as present
favorable earnings continue and fnsn.
cial conditions justify to declare and
pay dividends on all classes of stock
of the company at regular intervals.'
Mr.. Bernet stated that the income
Of the Nickel Plate allocated to the
Federal control period on the basis Of
the settlement made showed gross in
come of S9,116.b97. After deductions
OF $6,704,29 there was left net IN
come Of $3,412,3U1. Deducting s52s4ssa
paid in dividends on the first and sec.
ond preferred stocks, there wac bal.
ance available for dividends Oh The
common amounting to S2,S87,41L The
dividends announced yesterday VIII
absorb s1,774, 1850, leaving 8 final sur
plus of $1,1i3,051.
Directors Of the Chicago, Burlington
& Quincy. at meeting in New YORK
yesterday, authorized Claude G. Burn
ham, executive vice president, TO make
q final settlement for the railroad wIta
the government. It was stated that
the settlement will probably be cen
cluded within few days, when an
nouncement of the details will be mace
from Washington.
The Burlington's dividend policy was
not discussed at yesterdays meeting
1t is expected that action will not DC
taken before the November meeting o.
the board
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
virginia-Carolina 7Ls Per Cent

Question--What do you think of the Viz
ginia Carolina Chemical Z u per cent bonds.
due 1882? Are they a pretty safe bond.
and do they come In 800 and $500 bonds?
r. b. X.
Answer-virginia-C Carolina Chemical
TVS, due 1882, come in 500 and $500
denominations and in our opinion are
good investment, but it should be
borne in mind that the fertilizer bust
ness is in particularly bad way just
at present and that these bonds are a
direct obligation of the company, but
are not secured by a mortgage. For a
man who goes on the principle that the
time to buy is when a sound company
is showing bad earnings they are at
the present time good investment. For
the more conservative man we would
advise high grade issue with mort
gage security.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Seeks Safety for His $4,000

cuestion-On an investment of $40, 900
would you consider the following list safe
are in doubt of any, which will drop and
which should J take more of? United
States Of BRAZIL per cent due lg4f
United Kingdom 5As, due 1897 Republic
'of Chile IS, due 194l; Brooklyn Edison Is
due 1880; series c, nell Telephone of Penn
sylvania U.s. due 19a5.-E. G.. H.
Answer-The two South America n
bends which you have ON your list we
think are properly classeo as bust
ness mans investment and we would
prefer a Kingdom of Norway IS, due
1910, and Kingdom of Belgium 75bs.
due l945, III place of them. The other
three bonds, we think, are good in
vestments for your purpose. Nothing
that we know, however, is perfectly
safe. All things are relative, and it
is for you to decide how muct safety
you require.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
The Argentine Loan

Despite denials on the part of rep
resentatives Of banking houses whose
names have been mentioned in con-
nection with the financing, the report
persisted yesterday that negotiations
have been resumed for large dollar
loan to the Argentine government
The amount was reported at $50,OO0,-
600 and the terms under discussion
were said to call for two-year COM
mitment bearing per cent coupon
rate. Strength in Argentine exchange,
which has been steadily working
higher in recent weeks, is attributed
to the resumption of loan negotia-
tions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Continental Can

The shorts in Continental Can found
it difficult to cover their commitments
yesterday, although directors voted to
pass the quarterly dividend of s1.75 a
share on the common stock, due at this
time. Prior to the announcement Of
the boards action the stock sold down
to 43, but on hurried buying by shorts
there was a quick rally to 441a after
it was known that the dividend had
been omitted. There was net gain
of point at AZ, the closing quotation.
Continental Can is understood to be
closely held, which would account for
the difficulty in which the short sellers
found themselves following publication
of news which ordinarily would be
considered unfavorable.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Niagara Falls Power Is

Question--Do you consider the Niagara
Power Company per cent bonds a good
investment for widow? They have been
recommended to me. but have never seen
them mentioned in your column. Mrs w
E. r.
Answer-We consider Niagara Falls
Power per cent bonds, due 1882, re-
Gently selling at SO, as an excellent in
are secured by second mortgage or
the property and by first lien OF, the
stock and funded debt of the Canadian
Niagara Power and by all the outstand.
ing stock of the Niagara Junction Rail.
way.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
The Dollar in Foreign Exchange

Foreign exchange rates moved ir-
regularly yesterday, French francs
showing weakness in London. Quota
tions on francs here dropped from
1852 cents to 7.46, and then recovered
to TAT. Belgian francs were also
lower.
Sterling, on the other hand, ad-
vanced. and cable rates on London
gained one-quarter of cent at 1878.
Polish marks suffered another severe
break, dropping TO less than three
tenths of a cent each.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Pennsylvania Changes Tax Accounting

The Pennsylvania Railroad has
changed its method of charging rail-
way tax accruals in its monthly earn
ings Statements beginning with July
and for the seven months period end
ed July 81. The change appears by
comparison with the six months state
ment and makes net railway operating
income considerably better than under
the old accounting practice. Thus, for
the system $6,97s,373 net operating in
come was reported up to the close of
June, while on the new basis July net
was S6,36l 1874, and for seven months
$16.l02536. Heretofore twelfth of
the estimated taxes for the year were
charged up each month. From now on
taxes are TO be apportioned monthly in
ratio to the monthly net revenue
based on the experience Of the last six
years.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10

PARIS, Sept. Prices were heavy
on the Bourse to-day Three per cent
rcntes SIS francs 55 centimes. Exchange
on London. 40 francs as centimes Five
per cent loan, 81 francs as confines.
The dollar was quoted at IS francs
275a confines.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
State Bank Call

ALBANY, Sept. 9.-The State Super
lntendent of Banks to-day issued a call
Tor the condition of state banks, trust
companies ana private banking institu-
tions at the close of business. Tuesday
September g.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
London Market Quiet

LONDON, Sept 9.--Trading was quiet
on the Stock Exchange to-day. Bar gold
was quoted at Hos i'd; money was
loaned at 2M per cent. Discount rates
were: Short bills, rs "a 316 per cent.
Three month bills, Az per cent.
Closing quotations of stocks were:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10

URUGUAY (par 1os.42 cents a peso)
Checks. 6562M $3.50 S4.12h
vENh Ella (par 1873 cents bolivar)
| Checks. 1900 1900
Canadian Exchange-New York funds in
Montreal, 111t- per cent premium Mont
count.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
National Bank Call

WASHINGTON, Sept. 9.-The Comp
troller of the Currency to-day issued a
can Tor the condition of all national
banks at the close of business on Tues
day. September s.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Kress & &c. Sales Show Loss

The August sales of s. H. Kress
Co. were S2,19l. 202, decrease Of $50.
904, or 1910 per cent. In the eishs
months TO August 81 the sales were
SIS, 1896 1876, decrease OF $245,642,, O
/ 4-10 per cent below me corresponding
period Of 1920
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Bid and Asked

Following are the closing bid and
asked quotations of stocks listed on tn.
Stock Exchange in which there were
no transactions yesterday:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Government Saves on Interest

Early SUBSCRIPTIONS on Che new Treas
ury offering of 5000, 100000 three-year
51a per cent notes, one-year 5A per
cent certificates and six-month 5
per cent certificates of indebtedness
were reported yesterday to be COM
ing in in large volume. The banking
community predicted big success for
the governments latest financial oper-
alton. Chief interest in the operation
attached to the fact that this time
the Treasury has been able to borrow
on lower basis. The interest rates
on the three descriptions of short
term securities are a of l per cent
under the rates on the last preceding
Offering. This, of course, is refec-
ton of the generally easier money mar
ket position.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Money and Credit

Call loan rates hardened to SIX per
cent at the Stock Exchange yesterday
afternoon. Earlier in the day loans
had been made at 5 per cent, which
was the opening and renewal rate.
The flow of funds to the interior for
crop-moving purposes has been factor
in Tightening the situation here tempo
rarity.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Regular Chandler Dividend

Chandler Motor directors did the ex-
pected yesterday when they declared
the regular quarterly dividend of
$1.5o share, as this had been quite
definitely predicted earlier in the week.
President Chandler did not follow his
usual custom of issuing a statement
after the board meeting, but from other
sources 1T was learned that the man
agement is pursuing its policy Of work
ing off surplus stocks of cars in antici-
patton of big year in 1922. The
stock responded to yesterdays action
OF the board by advancing IL points
to 47%
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10

Bank Clearings-Bank clearings at
New York yesterday were Exchanges,
$534,900,000; balances, S49,s00,000.
Silver London, 3SAd; New York,
domestic, bar, 99As; foreign, 63Ac;
Mexican dollars, Acc.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Some Copper Statistics

With copper production drastically
curtailed, consumption is gradually
eating into surplus stocks of the metal
A Wall Street estimate indicates that
the 100000 ton surplus of copper is
being reduced at present at the rate of
10000 tons month. At meeting of
copper men one day this week figures
were placed before them which showed
production In the United States in Au-
gust Of 100000 pounds. Imports
from Canada and South America for
the same month were put at $4,000 900
pounds, making the total available new
supply 40,000,0o0 pounds. August sales
of copper for domestic consumption
and export were estimated at 10000
900 pounds, making an excess of sales
over new supplies of $4,000, 900 pounds.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Willys-Overland

Notwithstanding reports from the
West to the contrary, plans for provid-
ing $20,000,000 to meet the financial re-
quirements of the WHY'S Overland
Company, under consideration by a
local banking group, are progressing
slowly, and so far the details have not
gone far enough to make possible an
official announcement. 1t is understood,
however, that the program involves the
issuance of notes, secured by u first
mortgage on all the WHY'S Overland
properties, which would likely be I'M
derwritten by q strong local banking
group. Kuhn, Loeb g. Co., whose
name has been mentioned in reports
from Toledo, are not interested in the
financing plan, it was said Yesterday.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
Transactions Yesterday i'm Listed Stocks
Summary Of Stock Exchange Dealings

Copyright New York Tribune lnc.)
C4n.Ln
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-10
But His Marks Didn't Go I'm

Answer-You do not say at what
point your option became effective. If
you had bought the marks outright you
would have had profit of 500, but with
$500 option the rise only reduced
your loss that amount. Presumably
George HI. Perkins & Co. have your
money. We don't know when the binds
will get it.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1921-03-27
LOVELY PARTIES
AT SOUTHERN CLUB

The post lenten season was ushered
in yesterday when the Saturday lunch
eon took place at the Southern club,
there being many additional attrac-
tions concentrating the occasion.
Mrs Benerberg Bachelor delighted the
large assemblage with her lovely con-
tralto voice, singing a number of beau
tiful solos.
In honor of the Rotarians who will
hold their meeting in Birmingham
next week, the club has been profusely
decorated in American flags, inter
mingled with Rotary banners. Be
sides these decorations, huge hampers
of wild honeysuckle adorned the walls
and were placed artistically about th-
Tudor room, where the first of the
post lenten affairs took place.
Among the many parties were Mrs.
W. S. Moughon, Miss Helen Me-
Dopough of san Francisco Cal, and
Mrs. George L. Norris who were the
guests of Mrs. E. N. Cloughton Many
friends of Miss McDonough, who for,
nerly lived in Birmingham were
greeting her
tanned Mrs. j NJ. HILL Miss. Susie Win.
ter and Miss Billie Del Buono.
Mr.. and Mrs. James Bonnyman and
Mrs Richard Johnston were together.
Miss Louise Archibald of Louisville
was honor guest at one of the tables
with Mrs. T. B. Perry. Mrs. r. T. Nc
1.ahey, Miss Sarah Dryer and Miss
Mary Schollet Berney
Mr.. J. L. Yancey and Miss Elizabeth
Hitchcock, who has returned from
Fairmont seminary in Washington fol
the Easter season, were together, as
were Mrs. George Yancey and Mrs.
Chester Darlis.
Thomas Benners and Master Morris
Bel ners We're together.
Mr. Gregory Johnston had for his
guests Mrs. w. L. Shumates, Jr. Mr..
w L. shumate, Jr., and Mr. II. h.
Horner.
Miss Elizabeth Lusk of Guntecsville
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1921-03-27
Society News and Activities Of City and Suburbs

was the attractive guest of Mrs. ]. e.
Penny and Miss Carol Penny.
Mr.. Raymond Cox of Gadsden and
Miss Mabel Plosser were with Mr..
Reese Adamson.
Mrs. j. H. Stanfield of Cincinnati
always a popular birmingham visitor,
was lunching with Mrs. Samuel Led
better, Mrs Henry Dean, Mrs. Rich
ard Randolph and Mrs. w. l. Grubb
In one Of the parties a congenial
group was composed of Mrs. T. II.
Matthias, Mrs. w. G. Matthias, Mrs. VIII
ard Wilson. Mrs. Norman Morrison
and Mrs. Edwin Ball.
In Miss Mary Balls party were Mrs
Lee Allen Brooks and Miss Susie
Greene.
Miss Roberta Adams entertained
ments, Mrs. Griffith Lampkin, Mrs. j.
T. Wilson, Mrs. J. S. Adams and Miss
Stella Gee.
With Mrs. W. H. Stockham were
Mrs. Mary Myers, Mrs. Elizabeth Aye
and Mrs. Elwyn Ballard.
An interesting party of young peo-
pie was composed of Mr. Richard
Johnston, Jr., Mr.. Harry Walstrom and
Mr., Paul Penney, whose guests were
Miss Florence Robertson, Miss Grace
Bradshaw and Miss Juliet Sellers of
Montgomery
Miss Cosette Harris, Miss Charlotte
Ross Miss Maline Harris. sers Rollo
Steinmehl and Miss Margaret Ti1lman
were guests of Miss Frances Hood.
Mrs M. d. circuit, Mrs. Jones Moore,
Mrs. Charles J. Allison, Mrs. Louis
Minor and Miss Jane Allison were to-
gether.
Miss Josephine Meadow and Miss
Grace Meighan were among those pres
emit; also Mr.. George Ray of Danville.
Va, was guest. Mr.. Murray Brown,
Mr. w. L. Wilson and Mr.. l.. c. Wilson
were entertaining friends.
Miss Tracey Steele. who is home
from Sweetbrierl college for the holt
days, was a guest at one of the tables
Others of the party who were with Mr..
j. w. Mcqueen, Jr., were: Miss Mary
Aller Northington and Mr. Armstead
Lake. Miss Northington is another
one of the lovely college girls who is
spending the Easter season at home.
Mr.. w. II. Cooley of New York was
one of the distinguished men at the
luncheon. He was the guest of Mr..
James William Mcqueen
Another visitor was Mrs. Frank
Flaherty of Dayton, o. Mrs Fallon
OByrne entertained for her. Mrs. r.
F.. O'Byrne was one of the party.
Mrs. Henry B. Walthall of California,
wife of the distinguished actor, was
the guest of Mr.. Ju1iur walthall.
Other members of his party we're Mss
Margaret ashton and Mr. Alfred
Massey
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1921-03-27

one bottle. easy to apply tint gives distinct
shades from the lightest golden to the Deep
eat brown or black.
you .ook ten wears younger over night No
musss, dirty rastes to bother with--no walt
ing for results.
All druggists recommend "Brownntene on
.olors shading from Golden to Medium
Brown" and Dark Brown 70 Black.
Spseis1 FrsS Trial. Offer
For special free trial bottle with easy.
complete directions. send II cents 70 pay
Pharma. al Co.. col Coppfn Bldg. covinston.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1921-03-27
FRECKLES
March Worst Month for This Trouble
How to Remove Easily.

There's why nearly everybody
freckles in March, but happily there is
also remedy for these ugly blemishes.
and no one need stay freckled
Simply get an ounce of othine-double
strength from your druggist and apply
little of it night and morning and in few
days you should see that even the worst
freckles have begun to disappear. while the
light ones have vanished entirely. Now is
the time to rid yourself of freckles. for Il
not removed now they may stay all Sum-
mer, and spoil an otherwise beautiful COM
Adv.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1921-03-27
WOMEN Who
CANNOT WORK
Read Mrs. Corley's Letter and
Benefit by Her Experience

Edmund, SCI was run down with
nervousness and female trouble and suf-
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1921-03-27

ing me. am keeping house now and
am able to do all of my work. ! cannot
say enough for your medicine. 1t has
done more for me than any doctor. l
have not paper enough to tell you how
much it has done for me and for my
friends. You may print this letter if
you wish. = ELIZABETH C. CoRLEY,
care of A. P. Corley, Edmund, S. C.
Ability to stand the strain of work is
the privilege of the strong and healthy,
but how our hearts ache for the weak
and sickly women struggling with their
daily rounds of household duties, with
backaches, headaches, nervousness and
almost every movement brings new
pain. Why will not the mass of letters
from women all over this country, which
we have been publishing, convince such
women that Lydia E. Pinkham's Vege-
table Compound will help them just as
surely as it did Mrs. Corley?