davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1921-12-26
PERSONALITY OF CARUSO
 FELT AFTER DEATH

The heirs of Enrico Caruso have reached an amicable agreement for the division of his es- tate. His little daughter, Gloria, born after his will was made will receive half of the tenors property Mrs. Caruso will receive one-eighth, and provision has also been made for Caruso S stepmother, for whom he had warm affec- ton.
 It is announced that the heirs would not dis honor" the memory of Caruso by quarrels. Thus the influence of great-hearted man lives after him and we are spared sordid struggle over his fortune estimated at the pre-war rate of exchange as about $600O ,000.
 How seldom it is that the relatives of rich man so considerate! Too often we are treated to a spectacle of a self-nterest and greed that justifies the old saying that money is the root of all evil" and inspires cynical remarks on the folly of amassing for tune by years of hard work, merely to create family discord after the testator is gone!
 Of the many tributes paid to Caruso by a world which mourned the passing of its greatest singer, none is more genuine and more touch ing than this simple declaration of those who entitled to share in his estate that they will not dishonor his memory by quarreling.
The Birmingham age-herald., 1921-12-26
A MORNING PRAYER

Grant alI o Lord, to see the hidden depths of each others hearts, for only so can VIC find tho good which thou hast planted here. Amen.-M. s. B.
The Birmingham age-herald., 1921-12-26

Happy are they that hear their detraetions, and put them to mending.
 Much Ado About Nothing.
The Birmingham age-herald., 1921-12-26

President Harding asked not to put Christmas candles in the White House windows, because of the fire risk. There must be times when MT, Harding yearns for the independence he enjoyed when he was merely publisb;hg the Marion Star
The New York herald., 1921-12-28
Packard Motor SIS.

The Packard Motor Car Company's
ton year Ss, due in 1891, are among the
few bonds carrying an 8 per cent. coupon
still selling at par. They We're offered
last spring at par and since then they
have sold as high as 101 70 and as low
as 94la. They were issued to take UP
current bank loans, incurred largely in
the production OF new single six car
which has proved TO be popular. The Is
sue Is a direct obligation of the COM
pany, but not secured by n mortgage.
Under the provisions OF the indenture,
however, the company covenants not to
mortgage or pledge any of its property
or permit any of its subsidiaries SO to
DO except for pledges of personal prop
orty in the ordinary course of business
70 secure obligations maturing within
twelve months from their date. The
company also covenants that ii will main
tain aggregate current assets equal TO
at least It's per cent. Of all its liabilities.
including these bonds, and total tangible
assets Of at least ESQ per cent. of all les
liabilities.
The New York herald., 1921-12-28
Indiana Power 7%s.

The Indiana Power Company's twenty
year non-callable 71a per cent. first lien
and general mortgage series A gold
bonds, due in 1941, are selling on a
basis of about 7.30 per cent. Because
of the prevailing idea that In the next
few years corporations will endeavor to
refund their high interest bearing obli-
cations many investors are showing a
preference for non-callable issues. The
Indiana Power Company serves a ter
ritory permitting rapid growth in the
southwestern part of Indiana bounded
roughly by indianapolis and Terre
Haute on the north and the Ohio River
on the south and in which are numer-
Gus industries and communities. The
company owns and operates a modern
central power station. furnishing electric
light and power to thirty-four communi-
ties. The value of the properties as de-
terrnined by the Public Service Commits
sion Of Indiana and Independent engi-
neers is in excess of the total principal
amount of its mortgage debt. The COM
rany's earnings for the year ended
on Octoer 81 were 2.16 times the an
nual interest charges on these bonds. It's
net earnings were 1.57 times the annual
interest charges on it's mortgage debt.
These series A bonds are secured by an
equal amount of the company's first and
refunding mortgage gold bonds. thereby
sharing in their first lien on approxi-
mately so per cent. of the property.
The New York herald., 1921-12-28
Mexican Petroleum SIS.

The reaction Of more than 3 points in
Mexican Petroleum Company, Ltd,
fifteen years 8 per cent. sinking fund
convertible gold bonds has brought them
to q level at which they offer a straight
income Of per cent. They carry q
unique sinking fund feature. which con-
stitutes a good support under the mar
l'et at all times. If the bonds can be
acquired at not exceeding 1924, the
company will retire yearly in semi-an-
nual instalments s1,000.000 of principal
amount; IL at an average price of not
legs than 102 u and not exceeding 105,
$3.50 600; If not less than 105 and not
exceeding 1o71a. 100000, and II at not
less than 1071 " and not exceeding 110,
s250000, which means, of course, that, in
declining market. the company's pur-
chases would become larger. thus as
suring n demand for the bonds. The
sinking fund commenced on May l last
and the company has retired 100000
and probably will retire the other $780,
900 in accordance with the first alter
rntive IL the price should not exceed
1929. The bonds are the comp2ny's sole
funded debt, which will not create dur
ing their life any mortgage on its prop
critics. They are guaranteed principal
and interest by indofsement by the par
ent company, the Pan-American Pc
troleum and Transport Company. The
bonds are convertible until May, 1881,
into class B common. stock of the Pan
American Petroleum Company at 500 a
share. They are redeemable as a whole
cnly at 107Is. The property owned by
the two companies outside Of Mexico Is
appraised for considerably higher than
the par amount of this issue.
The New York herald., 1921-12-28
The Cuban situation.

Charles T.. Mitchell. president of the
National City Bank, will go to Cuba
about the middle of next month to sur
vey the financial situation and the
banks interests there. but 1t was said
that his visit would have no connection
with the proposed Cuban S50.000.00
loan still about in statu quo. The pros
poets of floating such loan are still
tied up with the American tariff. and
despite Gen. Crowder's early return to
Washington 1t does not look possible
soon. contrary to dispatches from WASH
ington. Even tile $5,000,000 loan. ap-
proved by the state Department, subject
TO fulfllment OF certain conditions, has
not been completed. The Cuban Gov
ernment thinks It has complied with the
budget and other conditions in connec-
ton with the s5,000,000 loan. but ap.
parently the other parties believe that
all requirements have not been met. At
any rate the contract for the $4,000, ,00o
loan has not been signed.
The New York herald., 1921-12-28
INVESTMENT NOTES.
united state. Rubher SIS.

Investors in search of Z. seasoned bond
with a high degree of marketability
cannot expect, of course, to obtain the
return on their money yielded by GER
tain new issues. Nevertheless the
present reaction in the bond market has
brought certain old line issues back to
levels at which they look attractive
again. For example, the United States
Rubber Companys first and refundins
5s, due In 1947, which enjoy a very
active market on the New York Stock
Exchange. can be bought to yield about
per cent They are secured by d.
rect mortgage on all the properties
owned or controlled by the company.
Under the indenture the company COW
enants that net ulencumbered quick
assests of it's subsidiary companies, ex-
cluding the General Rubber Company
shall equal at all times. at least
$50, ,000, 900, of which at least $780,
10000 is to be in companies stock of
which is to be pledged directly under
that mortgage. The company cannot
pay any cash dividends on its stock
unless its unencumbered assets and
those of it's subsidiaries shall exceed
their aggregate debt There are 5S,
426,S of those bonds outstanding. They
are redeemable as a whole at 105.
Their high price on the New York Stock
Exchange Is 92M.
The New York herald., 1921-12-28
Markets. Undertone strong.

Trading in bonds on the first day after
the Christmas holidays was not active
but the market displayed strong un-
dertone. Advances in prices were fairly
generously sprinkled throughout the list
at its close. United States war bonds
We're in demand and established gains
ranging as high as AZ cents in the ac-
tive issues and greater in the inactive
issues. Foreign bonds also showed i'm
provement. The railroad groups fea-
ture was the strength in the st. Paul
issues. st. Paul As of 1926 were par
ticularly active and strong. opening at
69h and selling up TO ~. Less inter-
est was displayed in Industrial bonds
but stiffening in prices was noted in
that section.
The New York herald., 1921-12-28
CALIFORNIA ISSUE
IS BEING OFFERED
S7,OO0,000 Bonds Put on Mar
ket by Purchasing Bankers
to Yield 4.30 Per Cent.

A syndicate headed by the First
yield 4.30 per cent. s7,000.000 of the
State of california's gold per cent.
highway bonds. purchased by them last
week The bonds are dated November
g. 1921, and are due serially on July 3.
1943. to July 8. 1949. Inclusive. They
we're issued for construction of highways
and constitute direct general obliga-
ton of the State. Other eastern mem
ters Of the account are as follows
Kissel, Kinnicutt G. Co., Clark. Dodge 6
Co.. Stacy & Braun. Eldredge Co.
Redmond Co.. Remick, Hodges & Co.
kountze Bros. Solomon Bros, & Hutz-
Ter and Blodgett & Co.
The New York herald., 1921-12-28
PENNSYLVANIA 9 1-.s.

An income of about 6.z5 per cent for
the next fourteen years is offered at
current prices by the Pennsylvania Rail-
road Company's non-callable secured 6 u
per cent. fifteen year bonds listed on the
New York Stock Exchange. That issue.
amounting to $50, 300, was sold early
in 1921 to raise funds to retire the com
pany's maturing obligations. 1t is Sc
cared by pledge of ss0,O00.O 900 of the
company's general series c 6s.. due In
1870. and s6,000,000 OF the Philadelphia.
Baltimore and Washington Railroad
Companys general series A 6s, due in
1860. The original offering price of the
bonds was 99A. They sold subsequently
as high as 1o7, but reacted to 104, at
which transactions in them have been
neavy.
The New York herald., 1921-12-28
New York Central rs.

A short term railroad investment, re-
turning an income OF about 6.65 per
cent, can be found in the New York
Central Railroad Company's ten year
collateral trust Is due in 1880. They
are available in denominations of $500
up to $4,000, and are dated September I,
1920, and were offered originally at par.
There are $25,000.000 of them outstand-
ing, issued to retire SIS, 100000 of 6
per cent. notes, maturing on September
Is, 1920, and for capital purposes The
company's collateral trust Is are secured
by pledge of securities valued at s31,-
425.0Q0 and are redeemable at los and
interest. They have sold as low as 9S
and as high as 1868 on the New York
Stock Exchange.
The New York herald., 1921-12-28
Average Bond Prices
December "a, 1921.
BOND NEWS AND NOTES,
Many New Jersey Offerings.

One OF the first of the January offer
ings. although it may be sprung this
week, is the new issue of S12,500.000 OF
the international Paper Company's first
and refunding 5s, to be offered by q
syndicate organized by the Chase Secu-
rites Corporation and the Bankers Trust
Company. More than eight. and possi-
bly, ten, new foreign issues are being
groomed for the early part Of next
month, although banker said that not
more than three were certain to see the
light Of day In January. or the three
one is likely to be the $6.000.o00 Monte
video loan and another the new S30.000,-
coo to $40,000,000 Dutch East Indies
loan. There is also in sight a large
aioount of State and municipal financ-
ing for next month.
The New York herald., 1921-12-28
Two Municipal Offerings.

c. w. McNear & Co. are Offering $780,.
600 OF city of Portland, Ore, 5 per cent
coupon gold bonds, due serially in 1925
TO 1862. inclusive. at prices to yield 4.7e
to 440 per cent. Watkins & Co. are Of
fcring $4,000 OF city of Pueblo. Col,
S per cent. public way bonds, dated Mo-
ven,ber /. 1921, and due in 1896. optional
on November /, 1881. at 100 and inter-
est, 20 yield per cent. They are exc
empt from Federal income taxes and are
legal for savings banks in Connecticut.
Rhode Island and other States.
The New York herald., 1921-12-28
Province of Ontario Bonds.

Investment banking houses were ad-
vised yesterday by wire that the Province
of Ontario would open sealed tenders at
noon on January for SIS. 10000 of its
fifteen year 5 rs, due in 1887, and to be
payable, principal and interest, In Mon
treal, Toronto or New York.
The New York herald., 1921-12-28
Arbitrary AlIotmenfs.

In the case of two recent issues the
allotments on account of padding have
been individual and arbitrary. The is
sues referred to are those of the Amer
lean Sugar Refining and Louisville and
Nashville Railroad companys. In the
case of the latter the Morgan firm made
only one 100 per cent. allotment and
that was to a large middle Western
bank which shocked the Eastern bank
ers by entering q subscription for only
five bonds.
The New York herald., 1921-12-28
chicago Awards 5000, 900.

According to dispatch from Chicago,
the Comptroller of that city sold yester-
day TO r. NJ. Grant e Co.. at par, ss,-
100000 of.its per cent. bonds. voted by
its electorate to pay deficits in its COR
porate fund
The New York herald., 1921-12-28
state of Ohio Issue.

Bids for $40. .O00,0 900 of Ohio State sol
diers bonus bonds. bearing Az per cent
coupons and OF six year average maturt
ity will be opened on Thursday. On
January 16 Oregon will open bids for
SO. 200 of serial 5s and also soldiers
bonus bonds. On January 5 Louisiana
will open bids for S1.000.000 of 5 per
cent. one to forty year State peniten-
tiary bonds. Syracuse will open to-day
bids for 100000 of one to twenty yeai
bonds, not to exceed 6s.
The New York herald., 1921-12-28
United OIL Producers.

The Coal and Iron National Bank
trustee under the mortgage of the
United Oil Producers ten year per cent
and participating sinking. fund bonds.
has called for tenders of $4,000 par
value Of the bonds for retirement from
funds paid into its sinking fund. The
United oil Producers is controlled by
Middle States Oil interests.
The New York herald., 1921-12-28

The American Exchange National Bank, 12s
broadway. Will pay on and after December
81 preference share coupon No 20 and coupon
No. ~. from deflnitlvo warrants for ordinary
shares OF the Mexican Eagle Oil Company,
Ltd. representing final dividend of 10 per
cent for the year ended on June 30, 1921
and equivalent to 9l.h3 cents share.
The New York herald., 1921-12-28
FINANCIAL NOTES.

Frederick Pcirce & Co. OF Philadelphia are
distributing to investors in bonds pocket
booklet cont aiming an interest table OF thir-
teen different rates of interest from 3h TO
per cent. on 81 900 from day TO six months,
and Information about bond coupons and the
normal income tax.
The New York herald., 1921-12-28
rlmore =. nirrlna mas heen appolnted

Elmore r. Higgins has been appointed a
second vice-president OF the National Danls
n Commerce IN New York. He has been an
assistant cashier Of the bank since March,
4 Eqfp having been previously chief national
bank examiner for tho Sixth Federal Reserve
district Before entering the Government SER
vice he was assistant examiner for the New
Orleans Clearing House Association.
The New York herald., 1921-12-28

Application has been made 20 the New
York stock Exchange to list 81, ,543. 800 Of adj
dtional common stock OF the Detroit Edison
Company and Ss, 900. 900 of additional COM
mon stock of the s. <. Kresge Company
The New York herald., 1921-12-28

T. a. Bennett, connected with Davidge
freaid q Co, will be associated with Edward
". Smith & Co.. in their bond department. on
January 1.
The New York herald., 1921-12-28
Inuestor and Bond Trader

II whose the columns The
l. ~ - win individual
The Birmingham age-herald., 1921-10-21
MASKED BANDITS OBTAIN Sl4,OOO
 IN ONTARIO BANK
Robbers Hold Officials and Customers at Bay, Es- caping After Run-
 hing Fight
Fly Associated Press

Wyoming. Ont, October 20-Four masked bandits robbed the bank of Toronto here this afternoon of a sum estimated at s14,O00 and escaped after running gun fight,
 B. Lamber. manager of the bank, was held up in his office by one of the quartet while another, asking for S5 in change. drew revolver on the teller. The other TWO held up the bookk eeper, Miss Vera Mcintosh. and three customers who were in the bank at the time. The bank staff was compelled to lie on the floor while one of the robbers went through the cash drawers and safe. The man ager, his assistants and the custom- CTS were then locked in the bank vault.
 Ronald Brown, junior clerk, was near the back door when the robbers entered. He immediately rushed out and gave the alarm After collect ing the banks available cash, the robbers, described by Mir Lambert as dark, foreign appearing chaps sped away in an automobile. As they did so several citizens summoned by Brown, fired on them and the fire was returned No one was hurt
The Birmingham age-herald., 1921-10-21
By FRED H. GoRMLEY Aont~omery Bureau. The Age-Hernld 22I-2 First National Hank Building

Montgomery, October 20-(Special) The senate bill making an appropria ton for the construction of new buildings for the state trainipg school for girls at Birmingham. and the house bill creating q state bond com- mission composed of the governor, chairman of the highway commission and attorney general. for the sale of highway bonds when they have been authorized were passed by the house of representatives with lttle oppo- sition Thursday.
 The appropriation for the trainins school was increased from s59.O00 to s75, 900 by an amendment adopted pv the house before it passed tho bill. This increase was necessary because of the destruction of the main build ing of the institution by fire last week.
 Representative J. Lee Long of Bus- Ter. who has opposed all appropria- tions. made h speech in opposition 70 the bill, charging that extravagance has marked the administration of the state government He read from the report of the expenses of the high way department and turned to one page which showed an expenditure of more than $200 for cuspidors and other things He also referred to heavy expenditures for automobile supplies.
 Later Thomas F. Orr, representa- tive from Marshall and q member of the state highway commission, told the house Mr. Long. had not been fair, even in q second statement he made in which he said the. cost was not for cusp.dors alone, and that the item represented Furnishings for the fdistriet offices of the highway de- partmsnt. which were opened during
The Birmingham age-herald., 1921-10-21
MINERS WANT GARY
 BEFORE COMMITTEE
By Associated Press

Washington. october 2O.-Judge El- bert Gary, chairman of the board of the United States Steel Corporation; Brig. Gen. II. II Bandholz and At torney General F. T. England of West Virginia, are listed among the witnesses to be summoned by attor- neys for the United Mine Workers of America when the Senate sub-com- mittee resumes its inquiry into the West Virginia labor troubles next Monday.
 Frank P. Walsh, of counsel for the miners. so indicated in a letter to- day to Senator Kenyon, chairman or the committee, asking that subpoenas be issued for number of witnesses. The miners will undertake. the let ter said, to make clear" the neces- sity for summoning Judge Gary.
The Birmingham age-herald., 1921-10-21
NOTE OF OPTIMISM
 REGARDING T|E-UP
 VOICED AT CAPITAL
Preparations Completed to Transport EssentiaIs-Re- duction In Freight Rates
 Expected Soon
Rx Associated prrss

Washington. October 2o.-The note of optimism in official discussion of the threatened railroad strike was cabinet members expressed confi- dence that the cooling off period since the strike call had served to lessen the danger of a national tie-up.
 one of the definite developments of the day. however was the announce
 nens that preparations s1ad 4 been completed for the specialization un der the commerce department of plans for the transportation of es- sentials should the strike go into ef feet
 After a conference at the White House between President Harding, Chairman McChord of the interstate commerce commission and Acting At torney General Golf the decided i'm presson was given that an order could be expected soon from the com mission putting into effect a reduc- ton in freight rates.
 The only published plan for avert ing the strike is the suggestion of the public group of the railroad labor board W nlCn uiNSeQ upon TdtS Ie- duction proportionate to the July re- reduction in railroad wages. The other feature of this suggestion em bodied the withdrawal of the strike order. a question which was regarded as the logical subject before the con ference in Chicago between the brotherhood chiefs and the labor board
 The two cases before the interstate commerce commission involving pe- til.ons for rate reductions are that of western agricultural interests who have urged elimination of all war time increases on grain, hay and feed and that of dealers in hardwood and forest products operating through territory east of Arkansas for ma terial decreases in rates on lumber.
 Developments today strengthened, the impre sion that the administr&- tion would not move in the strike sit- uation until the railroad labor board hac been given proper 0pportuntty 10 function. It was rei eit4rated that the administration was behfpd fne board and would lend ful support to it's programme now progress of formation.
The Birmingham age-herald., 1921-10-21
IAm ProudIAm ALabamian,
 Declares Captain kilpatrick

desire to make a statement.
 "When. reached Revel." he said. "a telegram from my brother informed me that Ala bamians In Washington had never Jagged in their efforts to secure my release. I was deeply grateful. Arriving here tonight. and greeted by this thrOng in- creascs my sense of gratitude. nm proud thai ! am an Alabam- fam"
 Captain Fitzpatrick is not in robust health. He will remain in Washington for several days. paying respects to officials of the slate department and members of Congress. He will then go to TntOntown. where he was born. and to Mobile. where his reIa- ! tives live. After spending . short time in the state. he will 20 west in search of hAalth.
The Birmingham age-herald., 1921-10-21
Appropriation for Girls School Passed By Senaf fe

the time the commission was ma kss.,f surveys in all sections of the sa after the people had ratified the esl inal bond issue and before 1t nS been invalidated by the decislon te the supreme court.
 Representatives J. W. Green of ess las and J. w. Partridge of Frai sn defended the appropriation bill aa Insisted that the state was doina sgaa of it's greatest works Ia trainine girls who are stationed in the tY ing school
 Representative 0. L. Tompkir Houston told the house it was n,ass sarN to increase the appropriation because of the destruction of the main building. Sixty-four voted for the bill and only 10 voted against 1t
 Not a vote was registered against the bill providing for the bond com mission for the sale of the highway bonds. The members of this com mission will serve without compen. sation
 Other bills passed by the house were; Making failure of trial judge to file report of circumstances sur rounding each crime for which n Irison term of as much as five years is given prima facie evidence of neg lect of duty; repeating section All of code, which will aid cities and towns in constructing streets and sidewalks; to exempt fair associa tions and concessions from the pay ment of licenses; to appropriate Sa5.- .ooD for the payment of the cost of advertising constitutional amend <rlents submitted at the special ses- sion of the legislature.
 On motion of Mir. Truss. the an- thor, the house postponed indefinite ly the bill which proposed the estab- lishment of~iustiees of the peace in Jefferson county and repealed by im- plication the municipal court of Btr- Iningham.