davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-12-02
TO PROTECT HOLDERS
OF ATLANTIC FRUIT co.
Ho,Dard A. Bayne Heads Com
n,iftee Chosen After Default.

Following the default of the interest
due yesterday on the Z per cent. fifteen
year sinking fund convertible gold de-
bentures of the Atlantic Fruit Company.
the following protective committee has
been formed; Howard A. Bayne of the
Columbia Trust Company. chairman
G.. A. Boody, Robert X. Cassatt. IT B.
Clark, Il. n. Potter, j. Ierndon Smith
and G.. II. Walker. c. e. Warren is
secretary and Joseph p. Cotton counsel.
In statement the committee said
"At the request of the holders OF Il
large amount OF the debentures. the un-
dersigred have formed a committee to
protect the interests OF those holders.
II Is clear that there must be read
justment of the securities OF the conf
pany to make provision for the fur
ther capital requirements and to carry
over the present period of depressed
earnings and to continue the company
as q going concern.
"The committee has conducted en- in
dependent investigation with regard 20
the properties and operation. and it is
expected that complete plan will be
agreed upon and presented which will
make provision for the company's diff
rulties. IT is not contemplated that the
holders OF debentures be asked to make
any cash contribution of new capital"
The New York herald., 1921-12-02
C., B. 90. DECLARES
EXTRA 10 PER CENT.
Will Pay Also 5 p. c. Semi
Annual Dividend-C. & S. An
nounces 2 P. c. for Quarter.

Special Despatch TO THE NEW YORK HERALD.
CHICAGO. Dec. 1.-The directors OF the
Chicago, Burlington and Quincy Railroad
company declared to-day a selni-apnual
dividend OF per cent. and special
cash dividend OF Is per cent. payable
ON December 81 to It's stockholders of
record on December IT.
The directors of the Colorado and
Southern Railway Company, sub
sidiary company, declared per cent.
dividend on its first preferred stock.
completing the payment of its regular 4
per cent. annual dividend dividend OF
per cent. on it's second preferred stock
and a dividend Of per cent. on its
common stock all to be paid out OF its
surplus earnings The common stock
dividend is the first to be made on the
common stock since 1912. The dividend
dates are the same as those OF tie Bur
lingtons payments.
The action OF the Burlington, II Is as
surned will enable the Northern Pacific
and the Great Northern TO maintain
their customary dividends those conf
panies between them owning practically
all the Burlington's stock.
The Burlington directors also voted
FOR the adoption of a pension plan TO
include all its employees. Its details
have not been worked out, but will be
ready in time to make the plan op-
erative as OF January /. 1922.
The directors ordered paid on Decem-
Der 81 to the stockholders Of record on
December II q semi-annual dividend of
8 per cent, aggregating sS.541 1855 on the
s170. $50. 100 of its stock outstanding and
an extra dividend OF 10 per cent. total
ing 81, 81, ,s65. The cash disbursements
amount TO $34 1857 $50, of which $33. 142. 7s6
will go into the treasures of the North
ern Pacific and the Great Northern
railways.
The New York herald., 1921-12-02
STEEL MERGER PLAN
IN EMBRYOTEC STAGE
Chodbourne and Bankers Ad-
nait Negotiations.

formal statement issued yesterday
by Thomas L. Chadbourne. attorney. OF
IA Wall Street. confirmed the reported
meetings In New York OF representatives
Of independent steel companies with q
view of planning a big consolidation.
None Of the names OF the companies in
viewed was made public. but It is under
stood that they include the Midvale,
Lackawanna. Inland, Rersiblic. Youngs-
town Sheet and Tube, Brier Hill and
Sheet and Tube Company OF America.
The statement said that Mr.. Chadbourne
was working with the companies upon
such a plan. but that the matter was in
o preliminary stage
Banking interests reported 10 be con-
nected with the plan admitted that they
were discussing the proposal.
The New York herald., 1921-12-02
STERLING Is AT $4.OS
AS EXCHANGES RISE
Europe's Few Commercial
Bills Fail to Slacken Swing
Upward.

A combination of constructive factors
so far as European currencies expressed
In terms OF the dollar are concerned
resulted yesterday in one OF the most
spectacular foreign exchange markets
of the year. II carried sterling to $4.0S
to the pound, francs to 1877 cents and
marks to quotations variously esti-
mated at from Sc to &c hundredths OF a
cent. with all other European currencies
participating in the rise. Tho gain In
sterling was almost 2 per cent. or about
cents; in francs, 80 hundredths OF a
cent, or per cent, and in the mark,
.0o56, about 20 per cent.
Fluctuations between sales were wide
and, while the volume of the business
was not great, the urgency or the de-
mand and the scarcity OF the supply
were such as to give an impression or
fundamental Improvement in fiscal rela-
tions with Europe and of forthcoming
DEVELOPMENTS of international import
ance. At $4.08 the pound sterling marks
a new high record on its struggle to re-
turn toward parity Of exchange, which
is S4.S665, the previous high or the
year having been $4.0eA in April. The
mark has nearly doubled the lowest
record in its history of 80 hundredths OF
q cent, made on November z.
The supply OF exchange on Europe
from commercial bills was so small as
to be of no perceptible weight In stem
ming the upward surge OF European cur
rencies. Another factor Is the report or
o. remarkable decline in prices In Eng
land. Still another is the progress OF
plans for the assembling of conference
abroad to stabilize exchange, besides the
work in London of Messrs. hathenau
and SHINES to make the reparations pay
ments less difficult
AS a result of conferences held here
with important bankers by Anthony oe
Rothschild, who is now on ms way 10
London and of the conferences IN Lon
don. bankers here state that strong
movement has started in Germany to
bring about an early balancing of the
budget through taxation and a check on
the emission OF paper marks. In fact
Germans interests have been told that
a revision of reparations is dependent
on such a steb. The visits of Hugo
SHINES and Walter Rathenau have re-
suited in more hopeful prospect OF a
moratorium for Germany in the case OF
reparations.
Inc market mas peeH l'oS'"o'hs -
widely of late as TO cause moro or less
heavy losses to the banking institutions
which have been sending out to banks
in the interior each night post cards
giving rates which would be firm dur
ing the next day. Because or these
losses representatives of seven leading
held meeting yesterday and
appointed committee to investigate
the practice and to seq what can be
done to put business with the interior
on a more efficient and less risky basis.
The purpose of the investigation is to
eliminate risk and the solution may be
the despatch of telegraphic messages
each morning giving firm rates for
minor transactions and requesting con-
sultation by wire on larger business.
The New York herald., 1921-12-02

other outstanding shares. This $4,000
900 of stock is owned by the Huasteca
Petroleum Company, subsidiary Of the
Pan-American Petroleum and Transport
Company. The following statement was
issued by the Stock Exchange:
"A member OF the listing committee
stated to-day with reference to Mexican
Petroleum Company's application to list
s6.057, 200 OF additional common stock,
$4,000, 900 of which Is routine matter
for the purpose Of correcting record,
that the discrepancy had been discov-
cred in one of the Investigations con-
Quoted by the Stock Exchange and
called to the attention of the Mexican
Petroleum Company. Part Of the pres
ent application is the response OF the
company to a request OF the exchange
that the record be rectified."
The New York herald., 1921-12-02
SEEKS ARBITRATION LAW
ON BUSINESS DISPUTES
State Chamber Makes Re-
quest of Administration.

Federal Law for the enforcement OF
arbitration contracts over business dis
putes was recommended to the Admin
istration in Washington by the Cham
Der OF Commerce OF the State of New
York at it's monthly meeting yesterday.
The resolution, offered by Charles L.
Bernheiner. chairman OF the commit
tee on arbitration. was unanimously
adopted. The resolution was offered by
Mr.. Bernheimer, in connection with the
report of conference presided over by
Secretary Hoover which he and repre-
organizations attended.
Mr.. Bernheimer added: 1.-THE confer
ence adopted resolutions calling upon
The New York herald., 1921-12-02
DECISION IS AWAITED
ON LIBERTY BOND TAXES
Many Are Hazy About Ex-
empfions in NeID LarU.

Investment houses were deluged yes
terday with inquiries as to the exemp-
tion of Liberty bond holdings for cor
porations after January /, 1922, and as
to the possibility Of individuals incor-
porating companies to acquire unlimited
exemption for holdings OF taxa BILE Gov
ernment bonds. Customers were ad-
vised that the matter is being taken up
with the Treasury Department. which
he's refused a. definite ruling until an
opinion has been obtained from the At
torney-General. Such o ruling may re-
suit finally In an appeal to the Supreme
Court OF the United States.
Nearly all authorities agree that the
excess profits law of the old tax con-
tanned the provision which taxed the in
terest income from corporation holdings
OF Liberty bonds, and that the elimina-
ton OF the excess profits tax in the new
law virtually gives unlimited exemption
to interest income from corporation hold
ings of taxable Liberties. To obtain this
exemption. some interests hold, cor
poration must be an operating corpora
tion, not holding company nor one
formed by an individual to incorporate
bis holdings of Liberty bonds.
The new law does not on its face
specifically provide that a corporation
must be an operating or going con-
Germ, but these interests hold that the
Attorney-General or the Treasury De-
partment has the power to read into
the Interpretation OF the law such o re-
qurement. Nevertheless. the situation
seems to require that yes or no.
ruling be obtained as to whether a cor
poration must be an operating corpora
tion or not.
This subject OF evasion of surtaxes
by Incorporation" is taken up in Section
220 Of the act, which some interests
hold specifically provides for the possi-
bility of an individual Incorporating a
company to hold his Government securi-
ties, but others equally authoritative
hold that the ground is not fully COW
cred.
The New York herald., 1921-12-02
REVENUE CHIEF TO SPEAK.
Blair VIII Address Garment Mann
facturcrs on December s.

Before the International Association
of Garment Manufacturers at its
semi-annual convention in the Waldorf
Astoria on December s, David Fl. Blair.
Commissioner of Internal Revenue. will
speak on THE Case OF the United
States VS.. The Manufactures" He will
attempt to straighten all points In the
tax law. recently enacted. After his ad-
dress. he will be prepared to answer
or make note of questions from manu-
facturers.
Other speakers will include c. S.
Thomas, formerly United States Sem
ator from Colorado and G. A. O'Reilly,
vice president of the Irving National
Bank of New York.
The New York herald., 1921-12-02

Secretary Hoover In urge Secretary OF
state Hughes TO neSetiate treaties with
foreign Governments with which ouI
country does busine Rs which shall pro-
vide that arbitration a greements In COM
rnercial contracts made between their
respective nationals shall be valid, en-
forcible and irrevoca'sLe.
Arrangements were. made FOR house
warming OF the Cha pi ber'e building on
Liberty street now undergoing altera-
tions. Darwin r. Kingsley. president.
appointed committee to prepare pro-
gramme.
The New York herald., 1921-12-02
MEX. PETE OVERLOOKED
$4,0OO,OOO IN STOCK
Listing on Exchange Corrects
an Old Error.

Application yesterday by the Mexican
Petroleum Company for the listing on
the New York Stock Exchange of
$6,057.200 additional common stock had
the financial district puzzled. as it is
not the intention OF the company to issue
any more stock. Inquiry developed that
of the new stock to be listed $4,000,000
was authorized and issued several
years ago. but through some oversight
or error was never listed with the
The New York herald., 1921-12-02
FINDS SPANISH GIL LAYERS.

MADRID. Dec. 1.--Pedfso Novo, a Span
ish engineer, acting under orders of his
Government, has complested his explora-
tion of supposed oil leo 'ers in various
parts of Spain and has n dvised the GQv-
ernment to begin boTi ny for the ex-
poitation of several districts in the
northern provinces and "a ar Soria.
The New York herald., 1921-12-02

THURSDAY. DECEMBER L.
Renewals ......... ; Last. 5ts
High. .............. ~ Years high. 49,. 0
Low .............. ialYear's low. 3is
TIME LOANS.
Mixed collateral, so to 90 DAYS x
Mixed collateral. 10 months. ........ :
Jndustrlals, GO to 90 daya. ya............ 5
Industriais, to months. s............. .
COMMERCIAL PAPER,
Best naTnes, 4 to 6 months.
Other names. 4 to 6 months. ....... 5H
DISCOUNT RATES. RESERVE BANK.
Commercial paper. 'i5 days, Az 60 to %
days, Az Liberty bonds and Victory notes.
Is days, az: 16 10 90 days. AZ; bankers;
acceptances, ~ TO 90 days, Az.
"Fixed November .. Previous rate s.
fixed September 81.
OPEN MARKET RATES.
Call loans on acceptances. ........... 4is1
Discount rates on primo bankers acceps.
ances eligible for purchase by Federal Re-
serve Banks.
Bid. Ask. Bid.Ask
80 days.. "a 4M 90 days.. AZ Az
GO days.. AZ Aik 100 days. .... AZ All
CLEARING HOUSE STATEMENT.
Clearing House exchanges. 5000, 10o. 900:
balances, s75 500, 600: Federal Reserve credit
balances, $J2 800 900.
SILVER MARKET.
Official bar silver in New York. domestic.
London. 3Issd., unchanged; Mexican dollars,
51.c.. UP &c.
Tie range Q. silver prices this year:
Highest. Iowest.
London. ..... 43ssd. Sept. % S07sd Mar. .
New york;. 7iasc. Sept. - Sc. Mar. )
The New York herald., 1921-12-02
FINANCIAL NOTES.

sutro & kimberley are o1c-ipg a block OF
the Repsib&c Iron and Steel Conpsny's first
. per cent. bonds maturing on April ]. 1910.
The New York herald., 1921-12-02

Ernest J. Corlon, formerly in the invest
nent security business under his own name
Il asspciated in the bond department OF Kean,
Taylor & Co.
The New York herald., 1921-12-02

The seaboard National Banlc OF the City
OF New York has been appointed trustee oi
the Lebanon Steel Found.y's five year
per cent. sold bonds. due on November /
The New York herald., 1921-12-02

I.amport, Barker Jennings Inc hsva
prepared for free distribution a Circular en-
titled Lower Interest Rates-Higher Bond
Prices"
The New York herald., 1921-12-02

Harris. Forbes & Co. and Coffin Burr
Inc. are advertising for record an issue -.
pany's first and refundhig mortgages : ner
cent. cole bonds. due or July I, 1871
The New York herald., 1921-12-02


Mr. Joseph Mccall
int dn the central ndearcIg nd dpower
] % bdf aGsP 5 s @ css s Ed as t a unsi s s the f, T 5
southwest depf @ @ ng a the % Deae m Ri sa P@ 0ds y'aF s c chsas %
The population
PROPERTY The properties The Philadelphia Electric subsidiaries
nso1n ] system including plants with rated capacity
modern n
& s s P Es S cS%P SaPSa | osss n % shas sz ia
% cspa eGs @ p DeeoD s5a I Delaware % eoune
@ % h s CoHpsS % % % % d5ss 6 H fs s eo%
RaundnsM Mortgage Bonds 80 ~ ~
kandsIr dcpefrrd stock
i % @ nj % 1 en- @ % tsDe ct % Curing @
for "a per O'
SINKING
FUND s sS ossaSas s apPGa the g and 9sn % % F Lien and and
cYeanEn
Dec 81, 1920 .sga ass ..-..
opsan Expenses Including Current
AnnuInt including ~ ~
end these ebodshrm mvesmn
80 yielding neary6
and
available about
DREXEL & CO.
BROWN BROTHERS & co. HARRIS FORBES & CO.
Nvemb
The New York herald., 1921-12-02
This advertisement
NeU Issue
$12,500,000
The Philadelphia Electric Company
First Lien and Refutding Mortgage Gold Bonds
622 Sei.ies due 1941
12:;,5OO,OOO
To be dated December /, 1921
To be due December 1, 1941

H 10 Trustee NdLabe enD December e6na
IN nd
a
The New York herald., 1921-12-02
Girard Trust Company, Philadelphia, Trustee

The Company
-four nbouds byeadcn
The New York herald., 1921-12-02
MONEY MARKET.

THURSDAY. DECEMBER /
Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1921-06-18
snanish-American Art in West,

Experts tell us that out of the well
ter of noble efforts, sanity aspirations,
abject misery and ignOble moral cor
ruption, another form of ornamental
design is appearing that has charac-
ter all its own and yet can pass by the
name of Spanish-American art This
new form of esthetic activity is prov
ing a fanciful and most artistic chara-
ter as well as being most unitarian in
it's methods of construction. Such is
the art now growing up in California,
New Mexico and Arizona.
The great southwest playground, in
it's careless and casual life, is doing
America great service by demon
strating how ancient principles of art
and handicraftS, founded on the stern
est necessities of economy, struggling
against untold hardships, designed
house furnishings that combined art
with the simplest lines and the most
economical methods of construction.
1t is quite evident that if our housing
problems are to be solved in a con-
structive manner we must realize that
there can be beauty in simplicity and
even in poverty.
Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1921-06-18
Ready for the Unexpected.

In case of any unusual damage as
by reason of an explosion or accident
Of any kind it is desirable to get the
debris out of the way as soon as pos
Sible and to remove other evidences
of the affair. 1t was thought that in
the United States this work was u.s.
ually done with great prOmptitude. In
the case of railroad collisions it is
quite common for every evidence of
the affair to be removed in q few
hours so completely that it is a diff
cult thing to locate the scene. In the
case of the bomb planting on Wall
street, in two hours q great deal of
the damage had been repaired and at
4 o'clock the same afternoon a few
boarded up windows was about all to
be seen of the fearful damage that
had been done. But in Paris these in
cidents are more common and the au-
thOritieS are on the alert to meet
them. There are maintained a reg
ularly organized department for such
emergencies and it is always on the
job with the same promptness that an
American fire company answers the
alarm. The work is Subdivided among
trained squads and every part of it
is attacked at once. Even torn up
street is repaired in a few hours.
Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1921-06-18
Do You Saw "Hiccup?"

The Teachers World of London,
Eng, thinks the spelling Of a common
word of sufficient interest and impor-
lance to call the attention of its read
ers to the common usage which is a
common error in Canada as we'll as In
England. 1t says: 1.-THE newspapers
persist in printing 'hiccough,' though
the more correct version of the word
is surely 'hiccup.' So misleading is the
former that many good people are even
saying 'hiccuf,' greatly to the delight
of new spoilers. The dictionary tells
us that 'hiccup' was first mistakenly
spelled 'hiccough' because of it's sup
posed connection with cough Not
one London daily uses the correct
form of the word as far as my obser-
walton goes. Dictionaries, unfortunate
ly, are not consulted as often as they
might be. How rarely will John Citi.
zen take the trouble Of looking I'D a
word in his dictionary"
Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1921-06-18
CAUGHT HandIe-Scrat

Roberta lives with her parents in
the st. James apartments. One night
she was with her parents visiting the
YOungs in the northern part of the
city.
While they were discussing the lat
est dances and the probability of a
big mosquito crop this year, Roberta
wandered through the house In search
Of adventure. Espying the family
kitten she gave chase, which ended
when the kitten started to crawl I'M
der the buffet.
Roberta made a grab for the dis
appearing tail and connected with it.
The owner promptly turned around
and administered scratches sufficient
to cause the child to let go. Roberta
ran wailing to her mother.
whats the matter, dear?"
"Well, the kitten crawled under the
box~and left it's handle sticking out
and l took hold of it and it scratched
me"-Indianapolis News.
Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1921-06-18
PUTTING Houses on the Market.

In an attempt to stop landlords from
refusing to rent houses in order that
they may be sold at inflated prices Brit
ish government officials have intro
duced bill in parliament which would
authorize local authorities to rent
these houses.
If house has remained unOccupied
for three months, according to the bill,
local authorities may make an order for
compulsory hiring. The building must
be suitable for letting without recon-
struction and, apart from the rent pay
able, no landlords will be entitled to
any compensation for the houses that
are cOmpulsOrily hired.
Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1921-06-18
TO UNCOVER BIBLICAL CITY
Thorough Exploration Of the Site of
Beth-Shan Is Expected to Yield
important information.

Relics of seven or more cities which
successfully stood on the same site
and of nine different civilizations are
expected to be uncovered by the ex-
cavation of the biblical city Beth-shan.
In Palestine, which is to be under
taken in June. The work will be done
under the direction of Clarence s.
Fisher, curator of the Egyptian sec
ton of the museum of the University
of Pennsylvania. Official permission
to undertake this work has been re-
ceived from the government of Pales-
tine
Beth-shan is now known as Beisan.
1t is situated in the valley of Jezreel,
just west of the Jordan and not far
south of the Sea of Gallilee.
More great battles are believed to
have taken place within sight of this
city than, perhaps, on any other spot
known to history. The investigators
hope to find there the keys to the
whole history of that section of the
world written either on marble slabs
containing the laws, DEGREES, treaties
and other information or on bronze
tablets or written in clay with cunei
form characters
Beth-shan was strategic point of
value to any of the great military
leaders of ancient times who aspired
to try his hand at world domination
1t was on the route of all the builders
of ancient empires. Beginning 5000
years ago, it suffered the blows of the
armies of Sargon, Abraham, Hammu-
rabi, Sennacherib. Nebuchadnezzar
Thothmes, Saul, David, Alexander
Pompey and Napoleon. Joshua led
his troops against Beth-shan. but
could not take it, because its defend
erS used iron chariOtS-fOrerunne of
the tanks in the World war. The
crusaders made Beth-Shan point of
attack in their vain efforts to conquer
Damascus. When the Assyrians came
down like wolf OH the fold, Beth
shan was one of the places they took
and it has been dominated in turn by
Greeks, Romans and Arabs
The investigators expect to find
there the strata of perhaps more than
seven cities, each built upon the ruins
of the other, as successive waves of
invasion swept over and destroyed it.
1t is within sight of the Mount of
TRANSPORTATION, the scenes of battles
between David and Saul, and the
Witch of Endor, who recalled the
shade of the prophet Samuel to en-
Tighten Saul, had her home near this
ancient city whose secrets now are
sought.
Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1921-06-18
Siberia's Wealth of Wild Flowers.

Were 1 a poet l should write book
of verses about the wild flowers of ST.
IBERIA. There is wild rose that blooms
hugely on big, sturdy bushes. Then
there Is the mauve and gold of the
MARY and john" that is loved most
by the Siberians. This lovely flower
Is named after the Virgin Mary and
the Loved Disciple. Nature seems to
have planned passing panorama Of
blossoms to delight the outcasts and
pioneers living in the thinly populated
wastes of Siberia. Every week, it
seemed to me, there was another pro-
gram of wild flowers for the view
from my window; all summer and fall
they suggested ever-changing tapes
try wrought on a background of YER
dure, hills and water.-Cody Marsh In
the National Geographic Magazine.