davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-01-02

these are questions that most bond
experts are answering in the afFirma-
tive: The action OF bond prices during
1ne latter half OF the year has suggest
Cd this. Bond experts attribute the I'M
proved tone in the bond market gen
orally in large measure 10 the desire
OF investors 10 obtain bonds at prices
wedding abnormally nigh income re-
turns as compared with the standard
OF few years ego.
he last year has seen some sur
prlsing changes in the investment
market in this country. For example,
United States government war bonds.
the Liberty Loan and Victory Note
issues, have fallen to a great discount.
1t has seen some o. these securities
OF me government selling at prices 10
yield the purchaser q return OF better
than 6sa per cent. II has seen the
United States Treasury advance the
rate on its certificates Of Indebtedness
from AZ to per cent. 1t has seen
foreign governments OF good credit
standing borrow in this market at a
cost of close to 8 per cent. And,
finally, it has seen American corpora-
rions OF excellent reputation forced to
put an per cent coupon on securities
IN order to market them. Al of these
Developments have emphasized one
thing the rising cost OF capital. which
has resulted in lifting the whole level
Of interest rates.
Win all the liquidation in specula-
tive securities and in the commodities
market there has been a steady flow Of
investment funds into high grade
bonds. New issues have generally been
we'll absorbed and tho success of
number Of offerings has been most pro-
New-York tribune., 1921-01-02

nourced. The oversubscriptiou OF sew
eral foreign government issues of high
coupon rate testified 10 the willing
ness OF the American investor TO huv
foreign bonds provided the set-up was
suf1cientIy attractive. 4 French gov
ernment loan for Si0o,o0e,000 went
surprisingly well.
The record Of the movement Of
listed bond prices IN lgee as ,.hown
ny The Irlbune's average reflects the
Change in investment Sentiment thar
occurred toward the middle OF the wear.
bE June industrial public utility and
r.liroad bond prices had fallen to the
lowest ievel ia more than q decade. The
average price of ten railroad bonds.
iol example. had fallen to IS. compared
with - ~ the beginning eli the year:
ten lndustrfals to 6Si2. compared with
i, and five public utility bonds from
81 to s3i2. At the beginning Of No
venber the ten rail bonds had recov-
cred TO 76'2, the ten industrials TO 73
aud the five utility bouds to SAN.
Since then prices hnve been forced of,
somewhat as result Of liquidation
~ interests in need OF cash for busi-
ness purposes ard to meet taxes.
1t IS worth noting that the aver
age price Of the ten railroad bonds
at the low Of the year, 6S, compared
with an average of 96 at the beginning
OF 1917. The average of the ten in
dustrlal bonds at the low was 6SjA
against a. nine years ago The five
public utilities in their price average
showed a difference between the high
and the low prices for the nine year
period OF approximately 20 points
New-York tribune., 1921-01-02

The campaign for defation, riding
-cughshod over finance and industry.
IKE a convulsion of nature, changed
the entire topography Of the stock
market, rolling down and fattening out
tie mountainous price peaks thrown
Up by the explosive energy of unrs-
strained speculative fervor in 1919. re-
placing them with valleys. When the
year drew to close the price of stand
a1G Industrial shares, which had SCARED
&c the highest plane on record the pre-
ceding year on the crest of the great
bull campaign, had fallen back below
their starting point.
The beginning of the great bear mar
ket OF 1920 really came in the closing
months Of 1919. The speculative boom
oi the year before had eliminated in
November OF that year with bulge
20 ilS4S which was the peak price
touched by the thirty industrial stocks
esed in making up The Tribune's aver
ages. From that high point the price
dropped in pTecipitate manner in De-
cem0er OF 1919, then rallied some
What and at the beginning of 1920 the
average stood at approximately no
ebruary saw p market in industrial
and railroad securities of violent un-
settlement when call money rates rose
to IS per cent, the foreign exchanges
declined sensationally, and sentiment
took an extremely pessimistic turn. In
single week General Motors stock
New-York tribune., 1921-01-02
1919 Paper Fortunes Vanish
In 1920 Slump of Stocks
Markets IN Backswing of Pendulum Add Ro.
mantle Chapter to Exchange Annals
as Bears Triumph

1NElEEN~IWENTY into the history
Street the anhes Of 1919 was a wear Of buov,n
rising pr 1920 was falling bulls were in ths
of striking interesting events adding romantic
market annals depressing unsettng markets . a
n the oacKs"lng OF the pendulum Paper
days OF the and the rise that cessation Of h
vanished into thin air bear amnaic a ~
70 the rich as well as the 7 ~ ''
New-York tribune., 1921-01-02
Surprising Changes Shown
In Bond Market for Year
Government Securities Slump Sharply as Investors
Seek Higher Coupon Rates; Foreign Countries and
Industrial Companies Forced to Pay Up to 9P. C.

AVE bond prices begun definitely discount return Of NOR.
normal conditions investors
the approach Of lowering rates buu fixed
interest bearing securities to take advantage
CT an appreciation IN market
due tineo - -
New-York tribune., 1921-01-02

High. Low. Clos Net
Sales 600 omltted). 1920. 1920. Ing chse
l10e do rfg4s c of e. l5i4 lsl,-l0s.
l23l do adj 5s.... ~ IN
Continued on page fourts,n)
New-York tribune., 1921-01-02
1HENEw 10RK IRUsTC0MRANY
&c BROAD STREET
COUPONS DUE JANUARY ls 1921 PAYABLE AT THIS OFFICE

ID New Orleans City Railroad Co,
Norwich Gas & Electric Co, 1st
, Mtge. 90
Il Pine Bluff Co, 1st Mtse. 80 Yr,
Gold
PIattsburgh Traction Co., 1st Mtre,
6s
Pocahontas Consolidated Galleries
CO., Inc, so Yr. 80 Gold Bonds
Rich Hill Coal Co., 1st Mtge. 8. F.
- Gold 5s
Rockingham County Light & Power
" Co, Gold So
Sharon & New Castle Railways Co,
e 1st Lien s. F. IS
Somerset County, n. j., Building Is
South Platte Canal & Reservoir Co..
lst 5s
u South Shore Gas Co., LIST Mtge. IS
;. Terminal Warehouse Co., End Mtge.
~ So
II Underground Electric Rys. Co. of
London. Ltd, 41s of 1888
United Fuel Gas Co, LIST Mtgc. s.
e L. 6s
United Gas & Electric Co. Of N. J,
C lst Mtge. IS
Utica Belt Limo Street Railroad Co.
E. End Mtge. So
Utica, Clinton & Binghamton Rail-
road Co., Gen. 5s
:. West Virginia Utilities Co, IS,
Series A
Wiilapa Electric Co, LIST Gold ss,
i Series A. and C
Worcester & Connecticut Eastern
7. Ry. Co.. 1st Mtge. AS
youngstown Sharon Railway h
Light Co, LIST Mtge. 8. +. Js
DUE JANUARY 10Th. 1921
Louisville Gas & Electric Co, 81.
Bond Secured Gold Notes
4 McWilliam Bros, Inc, IS
RestiRouchc Salmon Club 81
d World Film Corp, 1st 6s, Serial
Gold
New-York tribune., 1921-01-02

Sales 1000 omitted.
II y Y & Put As.
: NY&QEL&P 5s.
t56 n z Rys rfg ~.
g 90 rfg IS reg
New-York tribune., 1921-01-02

Alabama Water Co, 5 Yr. 10 Gold
Coupon Notes
Athens Terminal Co., 1st Mtge. 5s
Auburn Gas CO.. LIST Mtge. s. F. So
Bernice Anthracite Coal CO., GenI
Ntge. 50 Sinking Fund Gold
Bronx Gas & Elec. Co, LIST Mtge. IS
City of Oregon, Mo, w. w. & Elec-
trio Light 5s
City of Sedalia, Mo-, Refunding 41ss
Central Market Street Railway Co,
ist Mtge. S. +. IS
Citizens Gas 4 Electric Co. Of Coun-
Gil Bluffs, lst Mtge. IS.
Citizens Gas & Fuel Co. OF Terre
Haste, Ind, lst Ref. so Yr. 5s
CHnchheld Coal Co, 1st Mtge. IS
D. K. L. Holding Corp, Gen. IS
Detroit, Toledo & lronton Railroad
60, 1st Itge. IS
East Hampton Electric Light Co., 6s
Equitable Illuminating Gas Light
Co. of Phila, 1st Mtge. SIS
Erie County Eiec. Co, lst Mtge. Is
Fonda, Johnstown & Gloversville
X. K. Go, Gen. Ref. AZ
Fonda, Johnstown &, Gioversvillc
X. K. Co, ist Cons. Ref. YES
Greenwich Tramway Co., 1st Mtge.
is
Hackensack Water Co, LIST Mtge. Is
indianapolis Water Co, Gen Mtge.
81
Jonesville, s. C., School Dist. 5Xs
kAnsas City Light & Power Co, 1st
dtge. 5.
Kansas City Southern Ry. Co, Ref.
4 mp. IS
La Paz Sugar Co., lst 6s
Lincoln Traction CO. Gold IS of
1889
Lockport Light, Heat & Power Co,
lst Mtge. Kefdg. s.
Macon, Dublin & Savannah Railroad
Co, lst Mtge. IS
New Orieans City Il Lake Railroad
Co, lat Mtxe. IS
The diamond drill., 1921-10-15
PIKERs COMING AGAIN
Next Years Trip VIII BE A Circle
OF Lake Michigan With Copper
Country the Objective

The Michigan Pixies Association has
decided to make another trip to the
north the coming year. The gen
eral design OF the trip is a circle OF
Lake Michigan with the copper coun-
try as the point farthest north. This
trip was decided at the annual meeting
OF the Pixies Assn. held at Detroit last
week. The details will not be announc-
until after the pathfnders have
SCI. out and logged" the road.
II is tentatively planned TO make a
tour Is days long. The itinerary has
not been definitely decided. except that
the following cities will be on the
route and that others may be added
Owosso, Battle Creek, Kalamazoo, Ben
ton Harbor. Mich; Michigan City, Ind /;
Chicago. Ill: Racine. Milwaukee. She
boygan Manitwoc, Green Bay and
Marinette Wis; ron Mountain. Crystal
Falls, L'Anse, Calumet, Marquette.
Menominee. Traverse City, Ludington,
Muskegon, Grand Rapids and Lam
sing.
1dll. W. >. 1tlbItdiuf illdHdbti VI
the Detroit Automobile Club, one OF
the organizers OF the Michigan Pixies
Association, and first vice-presideut In
1921, was elected 10 the presidency,
succeeding Fred s. Case OF Sault Ste
Marie. Capt. Gilbreath was the orig
inator OF the Dixie highway. was a
pathfinder for the Lincoln Highway.
first secretary and an organizer OF the
Hoosier Automobile Club OF Indian
apolis, and for the last 15 years has
been one OF the national figures in
the good roads work. He is in charge
OF the speakers committee on the an
nual pike tour of the NJ. p A.
The executive officers OF the M. p. A.
are elected by the board OF directors.
AZ the annual meeting OF the directors
elected by the membership were Will
liam T.. Metzger, Douglas c. Richard
son, Capt. w. S. Gilbreath, Willard X.
Bush and Horatio S. Earle. all OF De-
troit; Fred S. Case, Sault Ste. Marie ;
John Jeffers, Saginaw; Fred r. Shear
er, Bay City, and Elmer W. West, OF
Sault Ste. Marie, Ont.
The diamond drill., 1921-10-15
SCHOOL LARGER THIS YEAR
High School Is SO Crowded That
Ninth Grade Is Not In Assembly
Room

The Crystal Falls schools reports
the largest registration this year of
any in their history. This is especially
true of the high school where. because
OF the large attendance. the ninth
grade has to be seated in one Of the
lower rooms instead Of the general
assembly room.
The school authorities are quite
surprised at this showing as the rule
is 10 start in with a smaller attend
ance in September than the school
ends with in June II seems that this
year there is little excuse to keep chill
dren out Of school and so they are all
in az the beginning.
The work OF the year is now well
along and excellent progress is re
ported from al parts of the school. The
country schools are fully as crowded
as the central school, II not more so
The rural population is increasing
steadily and the board OF education
will be faced with the problem Of pro-
yiding school room continuously from
this out
The diamond drill., 1921-10-15
MRS. THEODORE FoRsETH

The death Of Mrs Theodore Forsteh
occurred on Oct / at her home in this
city She had been a suffer for a long
time and her death was not unexpect-
ed
The deceased was born in Orland
Sweden. Sept. 26. 1872 making her 40
years OF age at death. She came 20
America and 10 Crystal Falls in 1897
In 1889 she was married TO Theodore
Forseth at Florence, Wis.
She is survived by a husband and
FIVE children. they being Mildred, An
ma. Ethel Edith and Teddy Forseth,
all living at home. also a sister, Mrs
liver Isaacson and a brother, Emil
Larson who resides In Sweden.
The services were held In the Swed-
fish Lutheran church on Sunday. Oct.
2, Rev. Olander OF Iron River oficiat-
Ing.
The remains were laid az rest in the
Crystal Falls cemtery.
The diamond drill., 1921-10-15
subscription $3.50 per year.
IS FORD LOGGING
Report From Sldnaw Is That He VIII
Log on 13 Fortles Near There
This Winter

IL has been generally conceded that
Henry Ford would do no logging this
winter. In fact that announcement
is said to have been made by someone
In authority.
During the week reports have come
20 light OF his preparation for logging
near Sidnaw that is interesting II true.
So many reports about Mr. Ford and
his intentions are scattered broadcast
that have little or no foundation In
fact that one must have pretty good
authority for anything told about him
these days. The story as II comes TO
us is as follows:
Henry Ford has started logging op-
erations on 13 forties that he owns
just south OF Sidnaw on Section 12.
according to word which has reached
here.
Six buildings are being erected near
Sidnaw to house the crews that will
cut timber on the Ford land. The DO
cation OF this camp Is given as two
miles southwest of Sidnaw in Duncan
township.
The rate OF pay for the present will
be $3.50 per day and board, II is said.
Later, when the crew has been reduc-
ed TO the most efficient workers by the
discharge OF all others II is said that
Ford plans 10 pay s4 per day and
board.
The presence of the Ford crews
near Sidnaw has attracted great
deal OF attention, especially In the
Sidnaw region, which appears to be
quite excited over the newest devel-
opments.
The diamond drill., 1921-10-15
-Read The Ads
MICHIGAN W0MEN'S CLUBS
Annual Convention of State Women
Held at Grand Rapids the Past
Week

The annual meeting of the women's
clubs OF the state was held at Grand
Rapids the past week with large at
tendance from all over Michigan and
many prominent visitors from outside
of the state. Crystal Falls was not rep
resented at the meeting.
A proposal 10 establish a central
women's council that will act as a
clearing house for proposed legislation
favorable 10 women and their interests
state censorship of motion pictures,
and malnutrition OF children In the
public schools. were the chief question
toabe discussed. The convention con-
tinued four days and was one OF
the most important in the history OF
the organization.
Under the central council plan q
group OF women clothed with the au-
thority TO pass upon proposed legisla
ton in the name OF the state fedora
ton will bring desired bills to the
attention of the state legislature and
the public II is proposed any woman
or group OF women In the state, re-
gardless OF afflliation may submit their
desires 10 this central organization
and receive attention.
The women endorsed the state cen
sorship OF motion pictures. This has
been done In other conventions OF the
Federation also.
naaH fba Ada
The diamond drill., 1921-10-15
Read The Ads
CATTLE PROTECTION 4
Exposure To Storms Cuts W. I.
Northumberland Feed l., -
Important

Failure 70 protect dairy cattle front
early fall storms will inevitably result
in lowered milk production and conse-
quent loss to the farmer, according 10
Prof. o. d. Reed, head OF the dairy
husbandry department at the MicAi-
gan Agricultural College.
Proper care is more important now
than later because OF the fact that
the animals are not yet accustomed
to bad weather conditions. Dairy
men are also inclined To be careless
early in the season. leaving their cows
out when they should be under cover.
When cows once fax OF in pro-
duction IL is hard for them TO make a
recovery" says Professor Reed. For
that reason care az this season Is par
ticularly important. The cows should
also be fed a little more generously.
grain being added TO their ration in
addition TO fall pasture"
The diamond drill., 1921-10-15

The Mystic Workers installed the
officers that they elected for the com
ing year al a meeting held in their
lodge room last Tuesday night. The
list OF officers is as follows:
Prefect-Hans Poulsen.
Monitor-Daisy Welsh.
Banker-W II. Urban.
Secretary--Albert w. Axelson.
Musician Mae Leonard
Marshall-Joe Holkup
Asst. Marshall-Louisa Harvey
Warder-Marion Citizen.
Sentinel--Pearl Howard.
Supervisor-A. l.. Axelson.
Following the installation ceremon-
les there was social dance which
was attened by a large number of the
members and their friends. An ex-
ceptionally good time is reported from
the meeting and the prospects are for
a very healthy growth during the win
ter
The diamond drill., 1921-10-15
Read the Ads
HIGH SCHOOL ATHLETICS

Crystal Falls travelled TO Norway
last Saturday and met defeat again.
This defeat does not show the weak
ness OF the team but rather its
strength. Our two ends. McKernan and
Pengilly we're injured in the first few
minutes OF play. Pengilly getting his
shoulder cap out OF place which no
doubt will put him out for the rest OF
the season. McKernan received
kick in the back putting him useless
the entire game. Regardless OF their
handicaps the team finished the game
The coach had to put sub. gard at
each end. The situation was like this:
take the catcher and first baseman
out of a ball team and what have you
left. Norway made all their gains and
touchdowns by means OF end runs Up
TO the time our ends were knocked
out Norway failed to gain and even in
the last period after our boys got to.
gether and accustomed 10 the emer-
gency lineup-Crystal held them
noisless and they couldn't even make
our boys pushing them back at every
attempt to carry the ball Our boys
would carry the ball down the field
and lose IL, this was done repeatedly,
the ball being on their twenty yard
line when the game closed. Mention
must be made OF the good work Of
Norway's left end and full-back Cred
IL also being given TO James OF Crystal
Falls.
Owing to the loss Of three OF the
best men from the original lineup at
the beginning of the year, namely;
Granberg. Gnody and Pengilly, the
coach finds Il necessary TO reorganize
his whole team. this being completed
during the past week and was watch
ed with keen interest by the fans. The
coach is quite hopeful the new line
up will show up very strong, in fact
he is quite confident
II Is hoped that a large crowd will
turn out 10 see the last home game TO
be played today at Forest Park Ath-
letic Field with Iron Mountain. The
boys are sticking by the ship and now
II is your duty TO stick by the boys
Game called az two thirty.
The loss of Pengilly is felt sevehely
as he was beyond doubt one OF the
hardest fighters on the team and
played the game well. This hole will
be hard to I'll.
-llaaA Thu. AIS
The diamond drill., 1921-10-15
TEACHERS TO CONVENTION

Many OF the teachers in the Crystal
Falls schools went TO the 500 last
Tuesday 10 attend the meeting OF the
Upper Peninsula Teachers Associa-
ton. Those who didn't attend the
meeting were required 10 teach in the
grades in the places OF those who did
attend
The high school was dismissed Mon
day night but all of the grade rooms
continued sessions throughout the
week
Some OF the teachers went TO the
500 via automobile. others went vie
train. Those in attendance were:
The following are IN names OF those
who attended the sessions; w. ID. Hill
C. A. Burkhart. Ivan ID. Wright Bess
C. Johnson, Roxy Baker, Agnes Cas-
sidy. Homer II, Shook. Agnes Beedon
Matilda Zehe, Mrs. John r. Mason,
Sarah Munns. Louise Cook and Esther
Olson. Mrs. Cayanaugh went Thurs
day. 49,
All except Mrs. Cavanaugh went wa
automobile John Mason w. -. Hill and
C. A. Burkhart driving ove- In their
cars.
The diamond drill., 1921-10-15
i. Ore Frelghts Reduced

According 20 a letter received by
prominent citizen OF Crystal Falls the
railroads have reduced ore freights
and 1t is expected that other freights
rates on iron products will be reduced
also. The letter In question reads as
follows:
Here's another big boost to business
The announcement just made by the
traffic executives OF a 2S per cent
reduction in the rail- freight rates on
iron ore is an outstanding develop
ment This undoubtedly represents
the entering wedge OF complete reao.
justment of freight rates on the raw
materials in the manufacture OF iron
and steel. These rates have been so
sharply out of line as 10 impose a
severe obstacle 20 tae restoring OF
prosperity not only OF the iron and
steel and related Industries but OF the
railroads themselves.
AS pointed out in a recent study
made by THE IRON TRADE REVIEW
the freight cost today on the raw ma
terials sufficient to make a ton of pig
iron I'm the Mahoning valley Is approx
imately s1050. compared with approx
imately $3.50 I'm 1912 IL is not difficult
TO visualize the beneficial effect az
stimulus TO the iron and steel market
that a 2S per cent reduction carried
down the line eventually will produce
Wage rates in iron and steel have
been brought down from 40 per cent
In skilled 10 an extreme OF 80 per cent
in common labor Freight rates have
remained. however, as the most for
mldable barrier to complete readiust
ment and restored prosperity. Now the
long sought for development OF an adj
equate rate revision definitely Is under
way
The most encouraging aspect OF the
situation is the manifest desire OF the
railroad executives to cooperate with
the manufacturers and shippers 10 re-
establish an equitable basis OF freight
costs
We thought you would be interested
In knowing what we think of the sig
nincance OF this announcement by the
traffic executives and what II probably
will contribute toward clearing the
business skies.
Yours very truly,
The Iron Trade Review.
Read thA Ads
The diamond drill., 1921-10-15
POLES DOWN
Removal Of Telephone Poles Makes
Big Change In Appearance OF
Street

The telephone poles have been re-
moved from Superior avenue from
Third street east to the lower rail-
road crossing and the change In APP
nearance Is certainly noticeable
when the city gets It's poles off the
opposite side OF the street the appear
ance will be changed much more.
The reason that the poles are not
removed all the way up to the court
house ls that the cables 20 take care Of
the system in the west end OF the city
have not arrived Just as soon as
they get here the new lines will be
cut In aud then all of the wires and
poles will be removed from that part
OF the street also.
II is understood that the city will
ret 10 work at once and remove the
unsightly poles from the south side
OF the street. II 10 also understood
that as soon as possible cluster lights
vii be installed along the avenue and
the rows OF lights now used will be
taken down.
---Read the Ads
A. L. Burridge made business trip
10 Chicago last Monday, returning
on wednesday.
The diamond drill., 1921-10-15
AS FAST As PLACES ARE READY
MEN ARE PUT AT WORK
ORE FREIcHTS ARE REDUCED
Announcement of a 28 per Cent
Reduction Was Made at
Cleveland Last Saturday

Men We're set at work az the Odgers
mine last week Friday TO get things
going on the surface and as rapidly
as places are made for the men under
ground additional help is set at work.
There is considerable cleaning up
TO be done underground at this prop
erty, some OF it occasioned by the
cave that brought some sand down but
most OF II by the inactivity at the prop
erty for the past six months.
The levels must be cleared OF all
derbis before men can be set at work
in the slopes and in the continuation
OF development work.
One OF the first pieces of work that
will have 10 be done Is in the new
shaft where the crusher, which II is
designed TO put on the bottom level,
must be set and made ready for op-
erations. This will take several weeks
to accomplish and many of the work
men will be employed at that work.
Ore All Shipped
The loading OF the stockpile at this
The loading of the stockpile at this
property was completed last Monday
There was only about $4,000 tons in
stock. Just what will be done with the
shovel is not announced. There IS
small pile of No. / ore al the Tobin
and another az the Dunn but IL prob
able that these piles will not be ship
ped.
Ore shipments have not increased
from this district during the week
The Balkan is still forwarding ore but
that is the only property 80 favored
We understand that the Fickands--
Mather mines expect 10 get through
with their shipments about this time
unless additional orders are received
Nothing new 10 report from the Car
penter or Bristol mines
The understanding is that the Car
penter may do something about the
latter part OF November or Dec.
The Bristol has It's stock ground filled
TO overflowing and IL is not probable
that anything will be done at those
properties.