davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
N. Y. Bank of Cuba
To Be Liquidated;
Deposits Reduced
Believe Creditors Will Be
Paid in Full; Financial
Situation in Republic
Said 20 BE Prccarious

Administration of the affairs OF the
Bank of Cuba il, New York, controlled
by the interests dominant in the Banco
Nacional dc Cuba, which suspended
payment on Saturday, was taken over
yesterday by the New York State Bank
ing Department. A formal statement
issued said that the local institution.
which is capitalized at 100000 and
has surplus and profits Of approximate
ly $l35,00o, would be liquidated.
"The Bank of Cuba in New York"
the statement read, "has decided to
hquidate, and the State Banking De-
partment has taken charge This step
has been deemed necessary in view
of the suspension of the National Bank
of Cuba on Saturday and in order to
protect the $50 depositors, who, it is
expected will be paid in full.
"Out of a total of $l,700, 900 deposits
when the moratorium began on Oc-
tober 8, there now remain only S27O.-
600, and these are secured by cash,
loans and discounts for almost double
TINS amount, so no doubt is felt as to
paying deposits in full"
iic pfHk Oh Nuba IN New ORR was
an agency of the Banco Nacional de
Cuba up to 1915. when it was con
verified into a bank operating under a
New York State charter William A.
Merchant, also president of the Banco
Nacional de Cuba, until his resignation
few weeks ago, was head of the local
bank.
Bankers here yesterday were with
out much additional information rela-
tive to the financial situation in Cuba.
conditions there, it was said, were
extremely grave and fears were felt
regarding the position of two or three
other banks which, like the Banco
Naclonal de Cuba, have had their as
sets completely tied UP by their in
ability to liquiJate loans made against
raw sugar. Reports that these other
banks had been able to obtain financial
assistance in New York were not
credited in important banking quarters.
Added to the troublesome financial
situation in Cuba is an extremely dis
TURNED political situation, bankers said
yesterday.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
New Railroad Bond
Proposal Biggest
Except War issues
Morgan Expert Predicts
N. p. K G.. n. Block of
$3.50, 900, 900 Will Cost
$40, 600, 600 10 Market

(F'ron The Tribune'a Washington Buenu)
WASHINGTON, April 1l-George
Whitney, of the firm of J. ?. Morgan
& Co., told the Interstate Commerce
Commission to-day that J. p. Morgan
& Co. and the First National Bank OF
New York probably could contract to
place the proposed issue Of $3.50, O0O,-
900 of joint bonds of the Northern
Pacific and Great Northern at from
so to 911a. This. in Mr., Whitncys
Judgment. would produce about $210,-
100000, the remainder to be supplied
by the railroad companies Thus it
was estimated that it would cost the
railroads $40 100000 to retire the old
bonds.
c. w. Bum, counsel for the North
orn Pacific, outlined the case for the
Northern Pacific and Great Northern
He said it was proposed to issue $780,
coo 600 of joint 6la per cent bonds
running fifteen years, with the priv
ilege of conversion into Great North
crn Is and Northern Pacific IS The
proceeds of the $230,000000 issue are
to be devoted to the payment for the
Burlington joint Dis which mature
July l of this year. In addition the
Northern Pacific has applied for per
mission to issue $33, 100000 per cent
Improvement, and the Great Northern
$39 900 of 7 per cent general
MORTGAGE bonds
MIR. Whitney testified before the In
tersfatc Commerce Commission to-day
that this proposed issue was The largest
bond issue that h > been attempted
outside Of Liberty Bonds. He said pre-
hminary Investigations b. his firm had
showed that holders of about $25,OO0,-
900 of the Burlington bonds would ac-
cept the new Joint Northern Pacific
Great Northern bonds in exchange.
These holders Of the joint ds included
insurance companies and savings banks.
The insurance companies, however,
have some $4,000 600 Of matulities
this year which viii have to be paid.
and a hope that about $50, 100000 of
the Joint is could be exchanged might
not be realized.
Mr.. Whitney described the proposed
issue of the best character and with
the best security back Of them. but the
magnitude of the issue, he said would
make the marketing of these bonds in
the short time at the disposal of the
syndicate of the greatest difficulty He
SAID 1t would be necessary to invite
practlcal' y everybody engaged in the
bond business TO ioin in the sale of the
bonds and that it would cost the roads
about per cent TO market them. He
estimated the number of individual sub
scrbers at 10000
The Northern Pacific also asked ner-
mission to issue S33 COO 600 of per
cent bonds for improvements, and the
Great Northern $33,OOO00O of ner
cent general MORTGAGE bonds
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12

per cent of all liabilities, including the
bonds, and all tangible assets at $50
per cent Of all outstanding bonds. In
the event that other obligations are
sold during the term Of this issue the
debentures stand as prior lien against
the properties.
A recent balance sheet of the COM
pany showed current assets of over
$36, 1000, and total tangible assets OF
more than $4,000 00O, compared with
total liabilities of less than 1880, 600
During the past five years ended August
taxes and cash dividends, earnings re-
tanned in the business have exceeded
$4,000, 900.
The proceeds Of the sale of the de-
bentures will be used to take up bank
loans and provide additional working
capital for the company
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
ackard MOTOR Co.
Sells 'Sl0,O0O,OOO
DeE5entlll.e Issue
Securities Paying 8 PC. Run
for 10 Years; Terms Pro-
vide for Sinking Fund to
Purchase in Market at los

The Pack ard Motor Car Company has
sold an issue of $10000,000 8 per cent
tenyear debentures TO a New York
banking syndicate consisting of the
Guaranty Company of New York, the
National City Company and Montgom-
cry e. Co. Public offering of the Sc
cur,ties is being made to-day at par.
The terms under which the bonds are
issued provide for a sinking fund of
$1,000 900 year, payable in quarterly
installments, for the purchase of the
debentures in the open market up to
105 If the bonds are not obtainable on
this basis he sinking fund is turned
back into the company's treasury The
bonds are also callable as a whole at
1912 during the first five years and at
105 thereafter. The company must at
all times during the life of the issue
maintain gross current assets at IT'S
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
Widener in Reading Case
Director Protests Against In
tervening Interests

PHILADELPHIA, April 11.-Joseph
e. Widener, a director of the Reading
company, has Withdrawn his power 7
attorney given the Prosser common
tick holders committee and hos npe-
sented petition to the Federal Dis-
trlct Court here to intervene in the
matter of the segregation of the Read
ing company properties. together with
separate answer to certain interven-
ing petitions and cross petitions.
The estate Of P A. B. Widener holds
100000 shares Of Reading common.
Mr.. ldener approves the plan as
originally presented by the Reading.
company, but desires TO register dis
clalmer and protest with respect to the
"a, tempt of certain intervening inter
ests to obtain n construction of the
basic contracts between the different
classes of stockholders of the Reading
company"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
Holds Good Bonds and Coughdrop Stock

Cuestion--Win YOU kindly ten mo If Yon
consider the following bonds SAT
bought them with the intention l.
ing them until maturity. but Aecount
of the uncertainty OF the railr ...l situation
don t know Just what 90 90. OWL .
5 600 bond OF the Grand Trunk Railway
b'@ trust equipment. $1,000 Chicago q
Northwestern Z per cent bonds duo 1890
$1,000 Louisville & Nashville per cent
bonds, due 1890 $500 New York Central
collateral 7 per cent due 1880; Sl5oo
Steel and Tube bonds per cent, $1,000
standard OH of California per cent,
$1,000 American Telephone and Telegraph.
1916: $1,000 Western Electric, due 1926
SS ooo in Liberty bonds $1,000 cond pre-
ferred stock OF smith Bros Cough Drops,
of Poughkcepsie, s per cent. Advise mo
particularly in regard to the railroad
bonds. Are all OF them readily market
able' | farmer ana this small
amount of money | have invested in bonds
! have worked hard To get ana don't want
to run any risk of losing i'll. II.
Answer-It would be hard to find a
much better list Of bonds than those
you hold. The equipment trusts of
the Grand Trunk are high grade and
the three other railroads are all strong
companies. The industrals and Amer
lean Telephone and Telegraph we con
slider sound investments. All of your
bonds, including the railroads. are
Cough Drop stock is not readily mar
ketable. You may have some individ-
ual or local reason for liking the in
vestmcnt Selling cough drops ought
to be profitable, and, judging by their
pictures, the Smith brothers are not
worrying much
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
Form Protective Group
Bondholders of Denver City
Tramway Co. Act

A protective committee has been
formed representing holders of the
first and refunding sinking fund mort
gage twenty fve-year 6 per cent gold
bonds of the Denver City Tramway
Company. Depositaries are the Bank
ers Trust Company, New York; the In
ternational Trust Company. Denver,
and the Industrial Trust Company,
Providence, r. l. On November /, 1920,
the Denver City Tramway Company de-
fauted interest on $9,SS8,950 of the
first and rcfunding 5 per cent bonds
and on $484,000 Denver & Northwestern
Railway first and collateral mortgage
bonds. 1t had previously defaulted the
interest on $2,49s,000 z per cent col
lateral trust gold notes, and on Deem
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
r q, 1920. a receiver was appointed.

Der "a, 1920, receiver was appointed.
A second installment of interest on
the 7 per cent collateral trust notes
was defaulted on April /. 1921, and the
committee announces that it cannot yet
be determined whether the company
viii be able to take up the defaulted
November | coupons on the first and
refunding sinking fund mortgage TWEEN
ty-tiveyear 5 per cent gold bonds be
fore May !, 1921, and it may be com
PEELED to default the coupons due on
that date, in which case remedies un-
der the mortgage would be available
against the company.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12

B. J. Van Ingen & Co are offer ng
5000 900 City of Chattanooga. Tenn-
5s4 per cent refunding bonds, matur-
ing April Is, 1851, at 1885 and inter
est yielding $50 per cent Princii Al
and semi-annual interest is payable N
New York at the National City Bank.
c. D. Barney & Co. and Drexel &
Co. announce that all of the $2,SSO,
600 General American Tank Car Cor
pora5ion ten-year ~ per cent equip
ment trust certificates offered by them
at $500 and interest yielding PEI
cent have been sold.
A. l.. Jelley & c =. Us syndicate man
ayers, are offering 100000 of er
auth orized $4,000 600 issue of first
mortgage 8 per cent convertible serial
gold bonds of the Charles F. Noble Oil
and Gas Company. These bonds are se-
cured by first mortgage on all the
properties Of the company.
NJ NJ Freeman & Co.. of Philadelphia,
are Offering $125. 00C City of But er,
Pa, tax free viaduct 5 per cent bonds.
matt ring 1881 to 1850, al prices 70
yielc 1870 per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
Monthly Earnings

The Boston & Maine in February,
1921, showed a gain of more than 80
per cent in freight revenue, compared
with February, 1920. A saving was
made in transportation expenses (train
movement COSTS. February, 1920, was
the last month of government opera
ton. Maintenance of way was Is per
cent higher in February, 1921, and
maintenance of equipment about II per
cent higher Increases in wage scales
would account for this increase in cost
of maintenance, but it is significant
that transportation expenses, also af-
fected by increased wage scales, were
held down. The figures show:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
Gets Restraining Order

TOLEDO, April ia temporary
restraining order was obtained in Com
mon Pleas Court here to-day by the
Paddock Hodge Company, grain deal
ers, against the Grain Dealers Ma
tional Association restraining the as
sociatlon from enforcing its compul-
sorry afbltratlon on members Some
twenty of the leading grain firms Of
tn country are mentioned as de-
foIcants.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
Salaried Man to Invest $500 Month

Question: am salaried man and have
VOW to invest at once and Will have about
$500 month to invest IN the future. Can
YOU advise me OF some bonds. long term.
non -callable, interest 6ls to 7 per cent
in s5oo denominations and which would
be entitled to good business mans rat
ing Can YOU give me the name OF
good part-payment broker and what do
you think Of this plan? Would YOU adj
common at the present market to put
away for couple OF years? What Is
your opinion of the foloWing what taxes
are they subject TO and when or they are>
caliable--also. where and how is interest
paid? Kingdom of Denmark Twenty-Five
year sinking fund external gold bonds,
certificates Pere Marquette Railway first
mortgage Series a gold bond, Copper Ex-
Consumers Power Co. dehenture. In a case
like Consumers Power Cc. debenture serial
where interest is payable without deduc-
ton of Federal normal income tax, does
I. mean that the holder must pay this
p. j. McH
Answer-New York Central 6 per
cent debenture due 1885 selling at
about 8S come in $500 denomination
and yield current interest of $50. We
consider them good investment. The
United Kingdom 5l2 due 1897 and gov
eminent of Switzerland SIS due in 1910
come in $500 denominations, but are
callable. We do not recommend broh-
ers. Your own bank might be willing
to lend you money up to so to so per
cent Of the market price Of good
bond if you deposit the bond as Sc
curity. Steel common is speculative
We do not attempt to forecast it's mar
ket price. Denmark IS are callable
after October is, 1925, at 10. Inter
est is payable April Is and October Is.
They are subject to United States and
state taxes, but not to Danish taxes.
Doc q
calla5le at par on sixty days notice.
Interest March and September 2.
They arc subject to United States and
state taxes. Pere Marquette first
series A 5s are callable at l05 on sixty
days notice. Interest January and
July I, and are subject to United
States and state taxes. Copper Export
Association per cent notes, interest
February Is and August 10, are call
able on thirty days notice on any in
terest date at par plus ! per cent for
each year remaining before maturity.
There are different series with differ
ent maturities. The tax provisions are
not available. Consumers Power de-
benture Is are callable at 1903 on sixty
days notice for bonds running three
years, interest is payable February /
and August /. The company pays the
per cent normal Federal income tax.
We consider all the bonds good invest
mcnts, and that is what is meant when
it is said that interest is payable with
out deduction of Federal income tax.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
Fisher Body Dividends

Regular quarterly dividends Of 81. so
share on the common stock and $175
share on the preferred stock have
been declared by the Fisher Body Cor
poration. Both dividends are payable
May to stockholders of record
Apri 2I.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
Investment
Information

Questions Of general interest to IN
V.stors WU be answered in this col
umn. in which case only initials ws"
be used. Others tcill be dnstoered by
mail. Address all inquiries. incios-
sng stamped. addressed cncelope, to
Financial Editor, The Tribune, I5k
Nassau Street, Neio Yorie City.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12

Question: have bonds of Western Elcc-
trio per cent, due 1925; Southwestern
Bell Telephone per cent due 1925. and
bethlehem Steel per cent, due 1895 Are
these good and safe Investments? Also, is
it advisable to sell them out before ma
turity o. better to hold them to the end .
Also, please toll me sonnet hing about
United States Rubber. as to the common
and preferred. and what is the smallest
amount of preferred one can buy for
safe investment of small amounts? | hold
% l.N co'Nmon. AMI when does it pay diVi-
dend Also. please let me know the mean
Ing o9 dlNiGc Il. ami cX-dlVidend.-N. Nj.
Answer-We think your bonds are
safe and are a good investment. We
would advise holding till maturity.
United States Rubber preferred pays 8
per cent and is selling at 102. You can
buy as little as one share. 1t pays 2
per cent dividends quarterly, January
Is, etc. Ordinarily when you buy stock
you receive the next dividend when it
becomes payable, hut if you buy a stock
eX.dividend the seller gets the divi-
dend In other words, the amount Of
the dividend about to be paid is sub
tracted from the selling price. This
applies only to the dividend paid in the
immediate future. A | subsequent divi-
dends belong to the buyer.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12

LONDON, April 1l.-Standard cop
per, spot $50 rs cd, futures $50 Is Sd;
electrolytic, spot 972 los, futures STA;
tin, spot s163 Is Cd, futures sl65 Us
sd lead, spot 500 los, futures f21 5s;
zinc. spot 81 l5s. futures 22I.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
DIRECTORS

]. E. ALDRED
STEPHEN BAKER
3. II. BORDEN
MICHAEL FRIEDSAhf
WALTER JENNINGS
RAYMOND E. JONES
@. ROWLAND LEAVTTI
HENRY K. MoHARG
GEORGE MINER
ARTHUR G. MEYER
JOHN c. MOORE
CHARLES E. POTTS
SAMUEL SLOAN
WILLIAM SLOANE
JAMES SpEYER
CARL F. STURHAHN
GEORGE ZABRISkIE
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
New q. 5. Treasury issue Replaces
One for $II8,06O,O 600 Maturing Soon

new issue Of about $5oOOO0O per cent United
lTy melton Tor pubic subscription
of ssubsc
g "i likely take The he
the whole country the New allot w
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
Bargain Offer Looks Suspicious

Question-Win you kindly give me your
opinion Of the following combination Of
pany. Pierce OIL. sirciair Oil? | am offered
the above combination, not by broker,
but by an experienced oil man, who should
low current quotations.--A. c. S.
Answer-If some one is Offering YOU
that series Of listed oil stocks at Il
discount of $3.50 below current quota
tons there is something wrong some
where, and We advise you to look care
fully for the Senegambian in the
wood pile. Why should the "exper-
fenced oil man" sell you Sinclair at
$40, for instance, when he can get
$23 e for it on the Exchange?
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12

NNE of the most active promoters and first presl-
~ dent of the Croton Aqucduct completed in 1912,
John L. Lawrence, director of the Bank of the
Manhattan Company. This great engineering feat made
possible the bringing of water into New York from
distance of 20 miles, and gave adequate water supply
the city which had ougrown the water works estab-
lished in 1899 by the Manhattan Company Throughout
its years Of existence the Bank has been actively
identified with matters of public service Its huge
accumulated resources and intimate contacts with bust
ness all over the country, together with grasp
the things that essential to human wellbeing
are of inestimable value to business men.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12

10 you need Domestic Help? Consult
Tho Tribunes situation Wanted and EN-
ployment Agency coiumns.-Advt.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-12
OFFICERS
PRESIDENT
STEPHEN BAKER
FIRST VICE PRESIDENT
RAYMOND E. JONES

IICE-PRESIDENTS
JAMES McNEII.
ID. FORS 81 Err
HARRY T. HAIL
EDWIN S. Lax Y
P. A. ROWLEI
d. II. PERSON
FRANK L. HILTON
v. w SMITH
JOHN STEWART BAKER
CASHIER
O. E. PAINTER
ASSISTANT CASHIERS
w. F. MOORE
/. S. GREGORY
n. Nj. BCCKLlN
w. A. RUSH
GEO. S. DOWNING
(. S. MACDONALD
Q. @. ALEXANDER
G. w. CAPES
The Lubbock avalanche. (Lubbock, Tex.) 1909-1922, 1921-07-07
Campus Club

Wednesday afternoon, June goth,
the college girls met at the home of
Miss Blanche Bean. Each girl was
given a piece Of cloth on which was
written the name of some animal.
Then she was tested as TO her ability
in using the needle by having her to
outline the animal with black threads
on the piece of cloth. Miss Blanche
Bean received the prize for having
the most cleverly drawn animal.
Then various kind of games were
played in progressive order. At the
close of the meeting delicious re-
freshments consisting of punch and
cake with sweet peas as favors, were
served TO the club members and the
visitors, Miss Blanche Bean and Mrs.
Archie Hall.
After much discussion Campus"
was decided upon as the name for
the club Miss Irma Pryor and Miss
Floe Benson will entertain next week
at the home Of Miss Benson.
The Lubbock avalanche. (Lubbock, Tex.) 1909-1922, 1921-07-07
Mrs. Joe Penney Entertains

Last Thursday afternoon from five
until seven was delightfully."- spent by
large crowd Of young ladies in the
home Of Mrs. Joe Penney, compli-
menting Miss Mary Moss, of st. Aug
Justine, sister Of Mrs. II. +. Miller.
Progressive forty-two was the di-
version, after which delicious re-
freshments Of salad. sandwiches, iced
tea, angel food cake and ice cream
were served to Misses Mary Moss,
Edith Carter, Pansy Posey, Vernon
Brown, Eunice Smith, Scottie Dem
ton, Exa Rankin, Blanche Bacon,
Gladys Pryor, Sylvia Wilson, Opal
The Lubbock avalanche. (Lubbock, Tex.) 1909-1922, 1921-07-07
a,h Of july Birthday Celebration

Sammie Marie Hit, with few, OF
her little friends celebrated her
seventh birthday July fourth, at their
new home just west Of the High
School building.
As each child guest arrived It was
asked to make wish for the honor
ee's Imaginary biography"
After quite n few out OF doors
games, iced cantaloupe was served on
the lawn. After indoor games and
story telling dainty Refreshments
were served. The children were
then invited into the dining room to
help partake Of the birthday cake on
which were burning seven little can
dies.
Those present were: Mary Hopper,
Martha Spencer, May Tom Simmons,
Maxine Clark, Ruby Ford, Lureain
Richards, Evelyn Morgan, Gwendolin
Thompson, Ernestine and Estelline
Herring, Fetna Bivens, Mary d.
Scuddy, Juanice Wallace. Vida and
Pauline Randolph, Madelle and Sam
mic Marie Hit The honoree was
the recipient of many nice and use
full gifts. At a late hour the chill
dren departed, declaring 1t to have
been a delightful afternoon.
The Lubbock avalanche. (Lubbock, Tex.) 1909-1922, 1921-07-07
CHURCH OF CHRIST
Junior Bible Study

600 p. m.
Leader. T. Stanfil
Song Led hy Lawrence Green.
Roll Gala promise God has
made his children.
Gods promise 20 Abraham. T
McClung
Story Of Hagar and lshmael-
Louis Shipman.
Isaac's Marriage Georgia Huff
stedler.
Selling the Birthright-Edith
Hicks.
Jacobs Ladder-Vera Holt.
Jacobs Marriage-Anna Bell
Stanfl.
Abrams and Sarah's names chang
ed--Lambert Hooker
How old was Abraham when Isaac
was born?
How old was Sarah a; the birth
Of Isaac?
How old when each died?
Where buried2
What Is a birthright?
Home Reading--Gen. 1920.
Boys Song.
Prayer
The Lubbock avalanche. (Lubbock, Tex.) 1909-1922, 1921-07-07
CHURCH NOTES.
++++++++ ++++

c. r. c. z. Program
July 10, 1921.
Leader-Jeppie Martin.
Topic-"Our Spiritual Service"
Business Session.
Song No. z.
Scripture-Romans l2:1-S.
Prayer-E. d. Hurd.
Leaders Talk.
Song No. 2l.
Undivided Service Matt. 4:10-
Finis Collins.
Ways 10 Serve-Miss Kate Slower
Reading: "Thou Didst il Unto
Dimple Ford.
Willing Service: Tim. 6:l7-2l-
Mrs. r.. d. Hurd
Special Song Misses Ruby anc
Edith Peek.
Debate Resolved that all part
Of the Christian Endeavor Pledg,
are Reasonable" -Miss Irma Pryor
affirmative; Miss Gladys Collins
negative.
Song No. 12l.
BenedictiOn.