davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-09-08
Fisk Rubber Go.
Sells $10,000,00O
Bond Issue Here
Bonds Secured by Mortgage
ON Combined Assets of
Three Concerns and Are
Offered to Yield 8.lOP.C.

The Fisk Rubber Company, which is
being consolidated with the Federal
Rubber Company and the Ninigret
Company, has sold an issue of $1O,OO0,-
600 first mortgage twenty-year per
cent sinking fund gold bonds to Dillon,
Read q Co. Public Offering is being
made to-day at 80 and interest, to
yield approximately $40 per cent.
The bonds are secured by direct first
mortgage lien on the entire fixed as
sets of the consolidated company and
by the pledge of certain stocks repre-
sentlng interest in affiliated or other
companies. The mortgage provides
that the company will always main
tain net quick assets equal to at least
125 per cent of the amount of the
bonds outstanding.
In connection with the financing the
company is consolidating, through the
acquisition of their properties, with the
Federal Rubber Company and the
Ninigret Company. Both of these com
ranies have heretofore been controlled
through stock ownership and operated
under the supervision of officers of
eral Rubber Company, with plant at
Cudahy, Wis, is large manufacturer
of pneumatic tires for automobiles
and trucks and tire sundries.
Under the mortgage which secures
the new bonds a sinking fund is pro-
vided for, accruing from the date of
the bonds and available emi-annually,
to purchase $5oo,oOo bonds each year
If obtainable at or below 110 and in
terest. Any unexpended balance of the
semiannual sinking fund will be
added to the sinking fund provided
for retirement of the company's first
preferred stock. All bonds acquired by
the sinking fund are to be cancelled.
The proceeds Of the bond issue will
be applied to the payment of floating
indebtedness of the company. A let
ter to the bankers from H. T. Dunn,
president Of the company, estimates
that net income available for interest
and taxes for the twelve months to
June go, 1922, will be in excess Of ST.
100000. The balance sheet as of June
so shows cash of 1929, 1886, inventories
of $18,S32 1888, and accounts receivable
Of $11,27s,036. Bank loans which are
being paid off out Of the proceeds of
the new bond issue are put at $9,000,-
600 in the balance sheet.
New-York tribune., 1921-09-08
Virginia. Cardinals
Sales Drop $50, 600, 600
Gross Turnover Shrinks and
Loss in Inventories Is Sus-
tanned. Stockholders Told

The gross turnover from sales by
the Virginia. Carolina Chemical Com
pany during the fiscal year ended May
81, 1921, amounted to $87 ,058,974 com
pared with s138,91S ,235 for the preced-
ing year, c. G. Wilson, president, told
stockholders at the annual meeting
Yesterday. He said that this reduction
was due both to the lesser units of
business transacted and lower prices
1or the goods and commodities sold.
=, with reference to fertilizer prices
mi. Wilson stated that owing to the
Sconoltlon of the market during the
Alst month Of the year, the season
wnen large part Of the company's
Aseos are contracted for, the unit cost
" VI fertilizer materials averaged higher
taan at any time in the company's his
s0iy. notwithstanding a reduction in
quantity purchases the company sus-
alned loss in value Of It's fertilizer
materials which had to be absorbed
through the writing down of inven-
s9rles to the standard Of values on
May 81 last.
Mr.; Wilson asserted that economies
Aau oeen put into effect that should
40 sIow a substantial saving in opera
d, ddons, factory wages having been re-
auced to q pre-war standard with cuts
executives.
Lucien oulden and H. M. Tucker
me.e elected directors of the company
yesterday's meeting to succeed "A. ].
NAemphlll and T. W. Watts. deceased
New-York tribune., 1921-09-08

Tho Tribune prints each day ths
maturity dates of all active bonds quoted
on tho Ne1o York Stock Exchange. Tho
return on bond to the investor depends
upon three factors: tho rate Of interest
tho security bears, tho market price.
and tho distance Of tho maturity date.
To fgurs tho precise yield on bond it
is necessary to use yield tables. but the
approximate yield oon roughly be figured
out By the follo,oing to,mxla. Divide
the closing quotation on bond into
the rate Of interest it pays, and the re-
suit s0ilt be the annual return. II the
bond is selling bclo,o par rou must
allo,o also for the appreciation Of the
principal To do this subtract tho mar
ket quotation from, par, or 100, and d.
vide the remainder By tho number IF
gears the bond has to run before ma
turity. For example, il s per cent
bond is selling at 90 and has ten years
to run, the annual return DiU be 6.6s
per cent. The difference between par
and the market price aOiU be 10 points,
subtracting 30 from 100. Dividing ten
points by ten vear~ the quotient ,Oiu be
I. This figure is TO bs added to 66S,
suhich is the annual return, and tho re-
suit 7.66 per cent, sUiU ivs you the ap-
proximute pield.
New-York tribune., 1921-09-08
Exchange Members
Are Exonerated i'm
Mex. Pete RulnOr
Committee Unable to Trace
Telephone Call Which
Caused Break in Stock:
Records Are Examined

Members Of the Stock Exchange have
teen exonerated by the committee on
business conduct in connection with its
Investigation of the sharp break in
Mexican Petroleum shares, which oc-
Cured on August %, following pub
lieation by the New York News Bureau
Of an erroneous message that the oil
company directors had met and de-
ferred action on the common dividend.
The message was transmitted over the
telephone to the financial news agency
" an anonymous person, who repre-
sented himself as calling from Stock
Exchange house. After publication
Of the message, and before the
facts had been set forth, Mexican
Petroleum broke from 9oss to 84M
Following the official denial that the
dividend had been omitted the stock
rebounded to go, but short sellers had
been given the opportunity to reap
substantial profits as result Of the
downward plunge.
The action of the Stock Exchange
was made public yesterday by Seymour
L. Cromwell, president, who issued the
following statement:
"The committee on business conduct,
after hearing testimony in connection
with tho false report Of the, deferred
dividend In Mexican Petroleum, which
was published on August %, has de-
veloped the following facts:
"A message TO the effect that a
meeting had been held and the dividend
deferred came over the public tele-
phone to the New York News Bureau.
Tho gver Of this message stated that
he Was calling from the office of a
banking house. This banking house
states that no such message was given
by them, and there is nothing what
ever to show that it was given from
the banking house, although attempts
70 trace it have been made through
tho telephone company and by all other
means possible.
1.-THE officials Of the News Bureau
state that when the message was re-
ceived at their office it was published
without confirmation, contrary to thsz
usual custom.
"The committee on business conduct
after examining the records of the
transactions made by members Of the
exchange during the day. find that
these records fail to reveal that any
member Of the exchange was respon-
slble for or connected with the pub
ilcstion Of the erroneous statement"
New-York tribune., 1921-09-08
Days Dealings in Bonds
The Market

The investment market continued
broad and active yesterday. Sentiment
was more cheerful and the quick over
subscription of the $4,000 600 500
Line Offering was indicative Of the
heavy demand. This issue was offered
at sssa, to yield approximately s.55 per
cent, and 1t went to a premium on tho
euro. selling at 101. Later In the day
.he .h oonas were admitted to dealings at
the exchange' where they were traded
in at 10oA. Old limo railroad Issues
Were prominent in the dealings yes-
terday. and gains in such descrintions
ranged from fraction to point in
some cases. Foreign government bonds
continued to act we'll. The French Ss
went to 101ia. United States govern
ment issues we're barely steady.
New-York tribune., 1921-09-08
Ready to Redeem Certificates

Secretary Mellon announced yester-
day that he had authorized Federal
Reserve banks on and after Thursday,
8, 1921, and until further
notice, to redeem in cash before Sep
tember Is. 1921, at the holders option.
at par and accrued interest to date of
such optional redemption, Treasury cer-
tiicates of Indebtedness of Series TS-
1891, dated September Is, 1920, and
Series rs 21921, dated March Is, 1921,
both maturing September Is. 1921.
New-York tribune., 1921-09-08

All Of the a1,sooooo of New
York State per cent bonds
sold in June to local banking syndi-
cate have been placed with investors,
it was announced yesterday.
The issue of 100000 Minneapolis,
St. Paul & Sault Ste. Marie Railway
Company ten-year 6h per cent col
lateral trust gold bonds, offered by
Dillon, Read & Co. at 99H. to yield ap-
proximatcly 6.55 per cent to maturity,
has been sold, and the books closed.
The City Of Fall River has sold an
issue of 100000 temporary bonds to
Estabrook & Co. on a $50 per cent dis
count basis. The issue is dated Sep
~tember 8 and falls due November %.
Reports yesterday that new Issue of
Federal farm loan bonds is imminent
were denied in responsible banking quar-
ters yesterday, where it was stated
that any further financing of this
character will not come until later in
the year.
The banking group Offering the se,-
New-York tribune., 1921-09-08

100000 State of South Dakota twenty
year per cent bonds yesterday ad-
vanced the selling price to make the
yield $50 per cent. The issue was
originally offered at a price to yield
5.75 per cent. To date s4,o00000 of
the bonds have been sols, and it is the
remaining 100000 that is being
offered on 500 basis The group
making the Offering consists of the
Guaranty Company of New York. the
Bankers Trust Company, the Irving
National Bank, Hannahs, Ballin & Lee.
Stacy & Braun, the William R. Camp
ton Company, Ames, Emerich & Co.,
the Wells-Dickey Company and the
Mississippi Valley Trust Company, Of
ST. Louis.
Tho State Of Arizona is selling on
September 10 a s1,00o,000 per cent
tax anticipation loan. The bids will
be opened at Phoenix.
B. ]. Van Ingen & Co. and j. c.
White & Co. are offering jointly
$4,000 Clifton, N. j., s per cent serial
school bonds maturing 1929 to 1850 at
prices to yield from 8 to $40 per cent,
New-York tribune., 1921-09-08

~ 600 Mapos Central Sugar Corp,
lst ntge. go gold bonds. due
le5f: Jan, 1913. coupons attached $36 LOT
For account OF whom II may concern)
2. o5o shares Merchants & Mechanics
Natl Bank OF Baltimore $l7k per ~
1900 shares United Railways &
Elec. Co Of Baitimore. 81 per sh.
POI shares willard f. Myers Co,
Inc, 500 each. ch...............sf 81 por -
~ shares Connecticut Mills Co.
class B common. $40 each. -. SIS per sh.
z2 shares Connecticut Mills Co, I'd
preferred 800 each. s2s per o.
20 shares Rolls Royce OF Asnrs
INC. common. no par; 20o shares
Rolls Royce of Amer Inc pre-
fsrred. $500 each........ Sc Geo lot
$4,000 Colorado Springs & cripple
Creek District Railway Co 40
year first coasld. SIS. NJ. 7. Trust
Co ctfs OF deposit. sit.,.........$3 5000 lot
5s7 shares Tubigze Artitcsai Silk
Co. of America preferred 81 soc lot
22f shares TubixSe Artificial silk
Co. OF America common $2Sz lot
l50 shares Remington Typewriter Is
Co.. first preferred par 81.
SO shares RetninEton Typewriter Is &
Co. sccond preferred 40 p1x N
Ice shares Atlas Track Corp COM
mon ss..re.s...sss ~ - &rup -
lSs sSa@rca 81 Aary's OH = 0n&3nk
10. eoSAMeA ss>e4AAnAAAAA~AaaAAa 9&o&14
New-York tribune., 1921-09-08
100000
State of South Dakota
go Bonds
Date
Dated September /, 1921
Dated September i, 1921
Due September /, 1941

90 Bonds
1,
New in dnomdn nation nof egarahes opnip
ndex xchngeabe for Iyremerd Bonds
Exempt from all Federal Income Taxes
Legal Investment for Savings Banks and Funds
New York. Connecticut and other
The South Dakota
hisis
of its
issued linac
bonuses soldiers the Act
ote a
We these Bonds, usod of at
104M and interest, to yield about 5.60%
Guaranty Company Of New York Bankers Trust Company
Irving National Bank Hannahs, Balm & Lee
Stacy Braun William R. Compton Co.
Ames, Emerch Co. Wels-Dickey Co.
New-York tribune., 1921-09-08
Days NeW Issues

An issue Of s4,1S9, 900 of Jersey City
serial bonds, maturing 1922 to 1860,
consisting of the National City Com
pany, Harris, Forbes & Co., Estabrook
& Co. mad Remick, Hodges & Co.
Two other syndicates submitted bids.
Public offering is being made to-day
at prices to yield from $50 per cent to
525 per cent
New-York tribune., 1921-09-08

and $4,000 Leonia, N. j., s per cent
serial park bonds maturing 1922 to
1851 at prices to yield from 6 to $40
per cent
New-York tribune., 1921-09-08

$1O,OO0,OO0
Minneapolis, St. Paul &
Sault Ste Marie Railway Co.
Ten-Year 612e6 Collateral Trust Gold Bonds
Daedse embe1 Dues sepemhe1
hiadsaa
NE VI TRUSTEE
The ecompnya hesph.u nn eB n.N.wy y4 Stock a
obligation
Trustee
First
Conpa p n
Ninnea o 1iIway
o ar from
ctonv Canada Iay Cornpan by
annariy of
Wisconsin Railway Chicago
o per on the stndn
ZACH
:SS ] S @ SS = %
99H and Interest," Yielding 6.55%
Dillon, Read & CO.
os~.h b in aA1 ~ sssr.a. ~ar~~d
Free trader-journal and Ottawa fair dealer. (Ottawa, Ill.) 1920-1927, 1921-08-26
MILK DROPS 2 CENTS
TO CHICAGO USERS

Chicago. Aug. 26.-,Milk prices in
Chicago will be cut two cents a quar-
and one cent a pint beginning Sept.
|.
This announcement was made yes
terday by the Bowman Dairy com
pany. following Wednesdays an
ncuncement that farmers had cut
prices to milk dealers one-third. 9th
er large milk dealers. while not yet
ready to make definite announcement
stated the reduction from the farmers
would be passed on to the custom
ers.
The reduction made by the dairy
farmers to the dealers was so cents
on 100 pounds. There are forty-six
quarts of milk to 100 pounds, which
makes the cut slightly less than 2
cents on a quart.
BY reducing their price per quart 2
cents, the dealers are making a cut
of 90 cents on 100 pounds, IL cents
more than the reduction to them.
At present milk is retailing at Ia
cents quart and cents a pint.
Cream is II cents per half-pint. The
new prices will be IL cents quart
and Z cents pint for milk and IS
cents half.pint for cream.
Butter Drops S Cents.
Chicago, Aug. 26,-Following up the
drop in milk prices. butter has slump
ed cents a pound in price in some
retail groceries. w. #. Boss, man
ager of a Chicago wholesale butter
and egg firm, yesterday said that in
creased production during the past
six days caused a drop from'dl to 81
cents in the jobbers price.
Free trader-journal and Ottawa fair dealer. (Ottawa, Ill.) 1920-1927, 1921-08-26
REPORT SPURG|N IS.
FOUND HIDING NEAR
CHIHUAHUA, ME|XCO|
DECIDES NOT TO PERMIT DOC.
TORS USE OF MEDICINAL BEER,
DESPITE APPARENT WET"
VICTORY IN U. S. SENATE.

Washington, d, c., Aug 26-Wet
forces in congress were deprived OF
the fruits of their victory over the
Campbell- willis anti.beer bill when
Secretary or the Treasury Mellon and
Internal Revenue Commissioner Blair
decided late Thursday to withhold is.
suance of the medicinal beer regula.
tions.
Although the anti.beer bill was de-
feated in effect by the flibuster last
night. Secretary Mellon and Commits
sioner Blair are Of the opinion that 1t
still has a good chance Of resurrection
and passage after congress comes BACK
from its months vacation
They have beer assured by dry"
leaders that the bill will be revived
and forced to vote within a few
DAYS after congress reconvenes. At
any rate they are willing TO give the
"drys" another chance to put the bill
through before they issue the regula-
tons permitting physicians to pre-
scribe beer for thirsty invalids.
Mr.. Mellon and Mr.. Blair were intiu-
enced in their decision to a consider.
able extent by the fact both house.
OF congress had passed the portions of
the bill forbidding the prescribing OF
beer as medicine. .Inasmuch as this
portion of the measure was not in dis.
pute. they were of the opinion that no
advantage would be gained in issu.
ing the regulations until congress
finally disposed of the anti-beer bill
one way or another.
The regulations were already drawn
and were ready to be issued They
provided that a physician might pre-
scribe af much as case of beer on a
single prescription and placed no limit
on the number of prescriptions.
Wayne B. Wheeler, general counsel
for the Anti-Saloon league, issued a
statement DECLARING that the filibuster
would not defeat the bill, but would
merely delay it.
"The fourth amendment was used
as a smoke screen to give plausibilty
and responsibility to the tilibuster,"
said he
Opponents Of the anti.beer bill are
confident they can continue their fill
buster indefinitely, When congress
reconvenes the tax and tariff bill, the
railroad bill. the foreign debt refund
ing bill. and numerous other import
ant measures will be pressing for at
tention to such an extent that no diff
Guilty will be experienced in keeping
the anti-beer bill sidetracked, in the
opinion of the vets"
Free trader-journal and Ottawa fair dealer. (Ottawa, Ill.) 1920-1927, 1921-08-26
FARM RIDGE

Mr., and Mrs, William Glenn have
/ returned from Chicago.
! William Dudcr and sister, Miss
/ Dorothy, motored to Grand Ridge Sun
| day evening.
/ Mr. and Mrs. John Lehr were Ran
som visitors Monday OF last week,
Miss Belle Locke has been on til,
| sick list recently.
Mrs, William w. Locke and daugh'
ter, Miss Mildred, were village callers
the first of the week.
/ Mr.. and Mrs. Leon Deckard are the
/ parents of a baby boy, born Wednes'
I day night.
Mr., and Mrs. Arthur Yocum, Mrs.
Everett Hodgson and daughter Miss
Arelene and Mrs, Hodgson's brother,
/ Glenn Shaver. and family spent We'd
nesday with Granville relatives.
! MIR Freeze transacted business In
| Ottawa Monday of the past week.
Word reaches us Ircm Mrs. Hattie
Hodgson from Seattle, Wash, stains
she expects to leave for home next
week. Mrs. Hodgson has been in The
West for about twelve months.
Mrs, Linn milford and son of Strea.
tor spent several days the past week
with her sister, Mrs Mabel Crawford.
in Grand Ridge.
Miss Fleetwood Is at the Deckaid
home helping with household duties.
Mr. and Mrs. John Read entertain.
ed Miss Cora Porter of Grand Ridge
on Monday.
Charles Woodward and family OF
Ohio visited at the Oryille Woodward
home near Sandy Ford last week.
Mr. and Mrs, Fred Woodward OF
South Ottawa spent Wednesday with
their son Oryille and family,
Mr.. and Mrs Tom Ross are the par
ents of baby boy born Wednesday
morning.
The Doty children were quite i'll a
a few days the past week.
The Reddick family reached their
destination. Vincett, Iowa,
Mr.. and Mrs. Doty are enjoying
visit with an aunt Of Mrs, Doty's frcHl
one of the northern states
Miss Ora Harris and brother ADie
We're visiting their parents and sister,
Mr.. and Mrs. John Harris and Miss
Elsie, one day last week
Mrs. Clum was a recent Grand
Ridge caller.
Miss Mullen entertained company Il
few days the week past
Mrs Henry Hess of the Ridge was
Streator shopper Thursday.
Frank Moore and family motored TO
Aurora recently,
The Good Will club met with Mrs.
Ralph Sutton on Wednesday after
Free trader-journal and Ottawa fair dealer. (Ottawa, Ill.) 1920-1927, 1921-08-26

| noon. \ luncheon was served. On
Sept 10 Mrs. William Keller will en-.
terrain the club.
Mrs, Skinner called on local Ella.
| tiyes one day the past week.
Mr. Ross of Deer Park township
transacted business In Ottawa recent.
| ly,
William Bacon transacted business
in Streator last week.
Miss Smith called on Ottawa friends
Saturday.
Mrs, Elmer Williams of the VILLAGE
is spending n few days In Chicago.
Mr.. and Mrs. Charles Elliott enter.
tanned relatives from Streator re.
Gently,
Mrs, Everett Hodgson motored 10
Ottawa a few days ago.
Mr., and Mrs lutz were calling on
friends near the Ridge recently.
Elvin Wakey, who resides east of
Grand Ridge, has gone 20 Indiana on
pleasure and business trip combiu.
ed
Misses Nora and Gertrude Pound.
stone went TO Chicago last week for a
brief visit.
Mrs. Lacey and children have re-.
turned from Chicago, where they spcnt
n few days with relatives.
MIR Hampson transacted business IN
Streator recently.
Charles lie Messurer Jr Of Kanhl.
kee was calling on relatives In this
community and Streator Saturday
q It's with regret we learn of the III.
ness of Harry Nogelsinger. who has
often visited here. Both Mr. and Mr..
Voselsinger and son will go TO Ari
iona for the winter on account OF the
formers i'll health. The little girl,
Mary Katherine, will stay with her
grandparents in Pontiac and &c to-
school there.
Free trader-journal and Ottawa fair dealer. (Ottawa, Ill.) 1920-1927, 1921-08-26
MELLON WILL NOT
ALTER BEER RULE;
NO PRESCR|P T|0NS
CHICAGO BANKER HIMSELF RE.
PORTED FLEEcED OUT OF $50,
900 PAID STRANGER FOR FER
RETiN6 OUT sLEUTH-PRoor
HIDING PLACE.

FL Paso, Texas, Aug 26.--Warren c
Spurgin, absconding president OF the
Michigan Avenue Trust company OF
Chicago, had his escape planned fol
months in advance He even paid al
unidentified man $4,000 to locate a
hiding place In Mexico, but lost this
sum when the man disappeared
The carefully mapped out escape OF
the defaulting banker came to ligh'
here yesterday in the statement of c
A. Carey. Chicago detective who ha,
been in Chihuahua City for the las;
few weeks He has definitely located
the missing banker at Uriachic, Chi
huahua, in company with a woman
and one American, Spurgin has but
$4,000 In cash and this is dwindling
rapidly.
Leaving Chicago, Spurgin went di'
rectiy to Chihuahua City and from.
there to Uriachic, where he had pur
chased a mine. This place Is several
days ride by mule from the nearest
railroad point and was arranged in ad
vance by two men working under the
direction OF Spurgin In I'll Paso, known
by the names of Todd McClammy and
Ed Reese. the detective says.
Spurgin has settled down at Uria
chic and plans to remain there as long
as he can, Carey said Accompanying
Carey was r. o. Fife, manager of the
Hilltop Mining company OF Cochise,
Ariz mho is anxious to obtain the ex
tradition Of Spurgin because of q mum
Der OF shady mining deals. Spurgin-
was the "dupe" of number of oil
and mining promoters because OF his
position, but he invariably paid the
bills while his accomp!ices reaped the
profits of the crime
In Chicago. according to Carey,
Spurgin was first class fish, He
was always the leader and payer in
night life parties at which wine and
women were the chief features
Every promoter OF wildcat mine or
oil schemes was also hawk preyine
upon Spurgin's pocketbook. They al
ways. made the banker president and
he paid all bills on the surface OF
things Carey was formerly employ
cd by Spurgin and was chosen to find
the banker because OF his intimacy
with. him.
No official report of the finding of
Spurgin had been received by Chicago
agencies last night Both the states
attorneys office and Toplis & Hard
ing, local representatives of "Efoyds
agency in London, denied they had an
operative named Carey In Mexico.
Latest reports received by Assistant
Stateis Attorney James f. McShane
were that Spurgin was in hiding on
the American side near the Mexican
border.
An audit of the books of the Mich
gan Avenue Trust company recently
disclosed shortage OF $1,50O,000.
Poor business deals and worthless
loans are believed to have accounted
for a-iarge part Of the missing funds.