davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Stock Market
Quiet; Prices
Are Irregular


Despite continued irregularity IN the
course of price fluctuations at the
Stock Exchange yesterday the general
list exhibited underlying firmness dur
'ns the two hours of trading 1t wax
an exceedingly dull affair even for =
Saturday session ard dealings were
largely of = professional character.
The effect upon speculative senti
ment OF the announcement Of the clear
ing up Of the Mercantile Bank Of the
Americas matter was seen in hjohe-
range OF stock prices at enc opening.
Afterwards some weak spots DEVELOPED
which made for irregularitv, although
this did not cause any general selling.
United States Rubber common stock
stood out as one Of the weakest of the
industrlals. dropping below ~ on fair
~ heavy offerings. Central Leather.
which was under severe pressure on
Friday. was also in free supply most Of
the forenoon. although reports of an
impending reorganization Of the COM
pany met with a vigorous denial.
Rail shares and the steels exhibited
fair degree of hrmness. Soma of tn l.,
motor issues were heavy on reports
that further price reductions are like
ly 70 be made by the leading com
pan'es n the industry early in Septem-
oer. Speculative sentiment as the
week closed was somewhat more hope
fnl. in view Of the fact that an i'm
pcrtart factor Of an unfavorable
nature which has been overhanging the
market has apparently been removed.
The New York Clearing House state
ment for the week revealed contrac-
ton in loans, while net demand de-
posts were slightly increased The
comm odity markets were cuiet. while
in the foreign exchanges movements
N rates were narrow and unimportant.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Gain in Mexican Trade
With Germany Is Shown

indications OF growth in Mexican
business are given by the fact that
a. gain of more than so per cent in
fcreisn trace vas made through the
port Of Acapulco in 1920 over the pre-,
ccdinc year. A report TO the Dcpar'<
rent Of Commerce from Consul Jean
A. Canon shows that last year che
trade for that port totaled $S23, 90 l. As
against 81 900 for the preceding year.
Although there was mark I'd in
crease in exports as we'll as IMPORTS.
the percentage Of increase weS, larger
il. imports. in Only one line vi goods
textiles was a decrease std while
there were increases in anIr .al prod
ucts, arms and ammunition. chemicals.
drugs, mineral products MACHINERY
paper, vegetables, vehiclA} wines and
liquors.
The United States lcl ys all other ma
items with 1921 .6ss woxth Of products
clipped into Mexico through Acsoulco;
Germany was seccAyl, with s47,sGi
Great britain thirA, with SIT 500, and
Spain fourth viz sll.316. 1t is
noticeable that f1t,nough Germany had
no export trade with Mexico through
Acapulco in ts. size took rank next
TO the United Yates in 1920.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Retailers Buying
More Freely, View
Credit Guide Reports Expand
III. Business Textile Mill
Activity Increases

The hel pful turn that business affairs
look on about two weeks ago continues
according to the weekly summary Of
business by the Credit Guide. the
buyers, says the summary. are be-
ginning TO feel that unless their orders
are placed soon the determination Of
the manuiacturers to produce on order
only viii be strictly carried out. They
are beginning to realize also that the
nanufacturer cannot work I'D stock
while orders are placed from hand to
mouth. This policy, they feel, will
cause an increase in wholesale prices
rather than work for decline
he buyers are placing orders more
freely Road statesmen are reporting
increased business both for Immediate
and fall delivery, and it is generally
believed that the fall viii see consid
cradle activity.
Many mills IN New England and the
southern part Of the country are re
porting Increased production, with a
onsiderable nun Der Of the unemployed
being absorbed. In fact. number of
New England mills are working to full
capacity and double shifts. With four
mills having reported twenty four
hours steady WORK The only hand'-
cap that is apparent S the lack Of
ready cash Tor desired expansion pLr-
poses
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Uniform Cost Systems
Set for Big Discussion

At the second international cost con-
ference. under the auspices of the Ma
tional Associat ton of Cost Accountants
to DC held in Cleveland on Septmber
IA. Is and Is, one session-on Thurs
day morning, September lis 70 be
devoted to a discussion OF uniform, cost
methods as used by the trade assocja-
tons
This subject mas received a great
deat OF attention during the last few
m onths as a result of the various in
vestisatons which have ben made Of
the activities OF the trade associations
There IS much popular misapprehen-
sion as to the purposes and methods
of uniform costing, the cost account
ants believe. 1t will be the object Of
tins session to thoroughly discuss all
phases of the subject Many of the
trade associations which have had &C
tual experience with uniform methods
will be officially represented. The Fed
erai Trade Commission will also have
an Official present. It is expected that
as result Of this discuS sion. son,e :
the uncertainty as to how far it is
legally possible TO go in the matter
Of uniform accounting methods will be
re moved.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
The Dollar in Foreign Exchange

The foreign exchanges last week
we're quiet, and rates were we'll main
tanned, as 4 rule. German operations
N connection with reparztion payments
appear for the time being to have com
parst.vely little effect upon rates.
Heavy importations Of gold have con-
tinued to come through from Euroue.
and there is no indication at present Of
any let-up in the movement in the i'm
mediate future
If YOU calculate the cost of the dollar
IN terms Of foreign money or current
exchange values-that is. if you were
buying dollar with pounds, marks or
francs-lts value at the close of last
week. compared with year ago, fol
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14

Monday. August ID Assumption
In Algeria. Argentina Austria, Belgian
Congo, Heig UNI, Brazil. Canary Islands,
Costa Rica, Fernando Pc. France ;
',nn~N GUAM French Indo-C nina.
French West Indies. Germany. Guate-
mala. Hayti, Hungary, Italy. Mndagas-
.,i~...c o.. -stont Morocco Para
quay (Asuncion) Peru, Poland. SPAN
and Turkey.
Tuesday, August l6.-ln Dominican
Republic War for lndepc ndencel
Egypt. Hejaz, Mesopotamia and Turkey
Feast of Sacrifice, Courban Bairam
In the United States: Vermont (anni-
vcrsary of the Battle Of Bennington
Wedne sday August IT, In Brazil
Estate Of .tmazonas, concentrating
notable event in state or municipa
story.
Nridny August lo.-In Bulgaria,
jugo- Silvia, Rumania, Siberia and
Ukranla (transfiguratlon O. ST.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Firnes Tone on
Curb Market as
Shorts Cover
Most of the Active Issues
Net Gains at the Close:
Oil Shares Lead

There was d tendency or the part of
the shorts to cover their commitments
on the Curb Exchange Yesterday. Near
the close the market turned slightly
recationary, but the declines in most
cases were no. sufficient to wipe out
tHe earlier Gains The closing saw
financial advances in most of the more
active ssues. Exceptions were Glen
: den Coz and Carib Syndicate, but
f1e Losses we're not important.
Strength in the oil stocks ran into
ne second hour and several large
Gag { International Petroleum were
IaFe7 r. 1o's. new high for the
week. -Af~er early strength Intercon+;-
mental Rubber sold off half poin. in
sympathy WITH tie decline n soma ~
- ruoher shares on the Stock Ex
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Financial Items

John J. Dempsey. formerly VIII Nj
rim. Lynch = Co. has become assocfs, 40
with Pu-dy. Rennich 4 Ride in their
trading department.
Slater Ia Master. formerly os Gordon
q la Master, has become associated with
GILLESPIE. Mcrcs & CO. In their invest
inort department.
York stuck Exchange. anncunc II tn,
If A. Thrnc morton announced the open
ING ~ mn Office at So William Street to
deal IN investment securities.
Tobey & Kirk. members Of the New
York stock Exchange announced ,re
open mr. ~ Chicago otficr az EOS S1ut~
Ia Sale Street untcr tho management of
John Z. Hcnstrater
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14

Over month ago the illinois Central
asked for bids from the locomotive
companies for repairing about 100 To-
com olives. THIS is work that costs
from $4,000 locomotive up. The Hi
nois Central has now rejected all BIDS
received and is considering making
these repairs in its own shops. It viii
Be recalled that STUDY Of this subject
Of repairs published week ago in The
Sunday Tribune suggested that it ought
to he more economical 20 repair loco
motives in railway company shops than
in outside shops
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Days NelU Issues

II. l. Allen & co. ard Barr G.
Scnmeltzer are offering new issue %
$4,000 Orange county. New York
Or per cent Highway Bonds yielding
from 5.25 per cent 70 sos per cent
according 10 maturity. These bonds
are legal investment for savings banks
and trust funds n the State OF New
I ork. Orange County has an assessed
valuation CT $50. net bonded
debt Of less than per cent of assessed
vaipe. o. Ss4l 900; and population Of
il9.oi4
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14

The managing and reorganization
committee Of the Maxwell Chalmers
Company is addressing q letter TO
stockh 0 lders OF the Chalmers Motor
Company. VINO have not deposited Sc
curities under the plan. Offering them
the opportunity to come in without
penalty, not later than Septem Der 10
The letter says in part: "Tn plan and
agreement OF reorganization mas been
practically sonsumsted- The Maxwell
Motor Corporation has organized and
has ISSUED securities contemplated and
deliveries are being made All the
property OF Maxwell Motor has been
sold At public auction and mas been pur-
chased in the interests of the reorgan-
lzation. Both the common and pre-
ferred stock Of Chalmers Motor de-
posted under the plan has been trans
ferrsd to the Maxwell Motor Corpora
ton. which is now the owner Of Alto
of of $4,000 shares of preferred and
3S2.o25 shares out of 399.3o4 shares OF
common
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Loans Decrease

The New York Clearing House banks
reported yesterday reduction Of S4l,-
$4,000 IN loans and discounts, while
net demand deposits increased t4l,23l.-
900. Surplus reserves decreased $500
$40. United States governrne Mt deposits
in local banks stood at sl42.oS0 coo.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Regular White Motor Dividend

Directors of the White Motor Com
pany, who met in Cleveland Friday
decided that the improvement in gen
eral economic conditions warranted
the declaration Of the regular quarter
~ dividend Of 81 share. state
ment issued by the company said that
truck sales have been of satisfactory
nature.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Stewa'A-Warner Earnings

For the quarter ended June 80 the
stewart Warner Spcedometcr Corpora
ton rep arted operating profits, befor.
Fedora, taxes, of s60l945. COMPARED
with tVsc 543 in the June quarter a
year s9o. Operating profits for the six
mor/bs amounted to $s52,sg2, con-
trsSt d with s1,47ol47 in the CORE
sE0v ding period Of the preceding wear
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Make Knitted Niel,trowns

The Boston Knitting Nils nave
Ptaken up the manufacture Of knit
niGhtsowns for children. in medium
and heavy weights. in cotton. whic.
they are showing in the Bush Terminal
sales building.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14

Following are the closing bid and
asked quotations OF stocks listed on the
stock Exchange in which there were no
transactions yesterday:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Oil Production Shows Slight Gain

mHMMM etaoin shrdlu etsoin nh mh
The daily average crude oil produc-
ton in the United States for the week
ended August s was 1,3l5.34o barrels.
an Increase OF $500 barrels over the
preceding week, according TO figures
compiled by the American Petroleum
Institute. The average for the Mid
Continent field was us, $40 barrels. an
increase % 1850 barrels. Decreases
were shown in the Gulf Coast. North
Texas. Central Texas, North Louisiana.
Montana and Wyoming. An increased
output OF 2,340 barrels was reported
from the Southwest field There were
ace petroleum retineries in the United
States in May. or three more than in
the previous month. The daily output
sh owed decrease of about $500 bar
rels day. At the end of May there
were total stocks of gasoline on hand
At the rehneries Of 500, 00o,0 900 gallons
This IS about two months supply at
the May rate OF consumption. There
IVES marked drop in consumption IN
the fivs months both al home and
abroad.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
TKE AMERICA


FOR the SIX months ended June 30
the Hercules Pcnder Company re
ported dehcit, after preferred div-
dends ana bond interest, Of Sl50.l45.
compared with surplus Of $l.O74.70
in the corresponding period Of the nre-
ccdinR year. Net earnings aftnr
charges and Federal taxes, announces
to sl22,553. against 81 ,2C5, 2s5.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14

Statements attributed 20 an Official
OF the Central Leather Company yes
terday branded as false reports that d
reorga nization Of the company is con
tempiated providing, for an assess
menc OF IS share on the common
stock. Nevertheless both the pref
erred and common stocks continued
their downward course despite the
frmness displayed by the rest of the
industrial list. The common sold
down to 26'a, new low for the wear.
while the preferred at 59l7 was off p.
points. Much Of the recent selling in
Central Leather IS SAID to have come
from people who bought The stock I'VE
or ten points higher in the belief that
the company had seen the worst Of
IT'S troubles Reports in the trade in
dicate that there has been slien.
improvement in the demand for ole
leather
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
In w all Street
l.. S. Rubber HEAVY

Both U. S. Rubber. first preferred
ard common stocks turned heavy yes
terday on the publication OF more IN
favorable reports concerning Col. Colts
condition. On comparatively light
turnover the first preferred broke ca
points TO Ss1a. while the common a
AN VAS within a fraction Of the
years low and eff Si4 points from Fri
days last sale. In addition to the Sc
-ious condition Of the chairman Of the
board, who has always favored liberal
dividend policy, the Street hears that
che companys report for the six
months ended June 80 will not make a
very satisfactory showing The report
IS expected to be made public some
time next week
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14

rhi,, A. r. n ,' ASKED Bid Asked
r W. ~ Ky ~, = Is T Erpress y,
r,s fser vi l.! 42o Al pr IS g.
80 ~ 'u % ..st Us Il esiz 81
ISL 4 " ct -. = ysa0r D, "a =. 40
DO Or rfs Is Il 'V.haoh II - ~
Trans 4 w : ii sIi. u.hc- T. IL -
Twin Cl,y r IS 4; " NJ - ~ -
r]Ss-u. y 49,, =, W-st'se A Il. sss 8.
, .ou /. - i"xtz West'so VI ist So so
~ NJ VI ~, = VII l. l. e H. 81,
Tn ALLOW st 70 ~ ufch-- 10 :.
s@r --lss 700 Wis Central - "a
= Drug st DR. san - do ~ * ~
I ~ Invest 9i- Wp " m =,
tsC1P T. f II 49,, rio A. y ~,
W II - "a s. Wight Aero. 81 ~
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14

It is believed in investment circles
ehat' although the fall crop demands
may make credit temporilv more
stringent, With tcnoencr toward re-
actloN in bend prices. this opportunity
should be seized upon by investors to
Increase stneir holdings. II is argued
tna-' WITH the crop movement oat o.
re way and continuation o. ljou,da-
ton - the long tied up loans OF the
country. there viii be a gradual re-
So rEclon Of the trend Of interest rates
toPH~rd lower Levels. This bond buv-
~ period" savs The Bache Review
rs phenomenon which always devel
= IS IN depressed periods after crisis
For a considablr period there is no
buying Then slowly. as the outlook
becomes clearer. it starts I'd. Securi-
ties with assured safety CT interest
payments are the ones sought-and
found practically only in bonds. Dur
ing TIE coming CROP moving months
with money n demand ana rates firm
1t Is natural 70 expect TEMPORARY
shading OF bond prices and OF thcee
investors should be ready to take ad
vantage"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Root Hog, or Die"

One o. the older generation Of rail
road directors was reading an article
n the August Atlantic Monthly en-
tilted Root Hog. or Die The article
advocated the return of the New Eng
4and roads to New Englanders to ona
and to operate. the point bejn, frat
all thai is needed to solve me New
Ravens problem IS comlnunit; spirit
Of cooperation and a viii to work
That reminds me- the railroad d.
rector said, 'of the time when the New
haven directors were New England
men and the president al a board
meeting proposed putting on new
anc faster express train One Of the
conncetlcut directors objected strong
Y, DECLARING what's the use. the pu5-
nc VIII be crowding it as full as the
other trains within . .,antA
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14

Silver Market
London. ashsd New York do,n@,tir IN,
% - foreign, Ste. Mexican doiiara. 4s7.c
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Transactions Yesterday in Listed Stocks


Copyright, 1921. York Incl -
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-14
Markets in Other Cities


Open. High. Eov. La,
The Washington times., 1921-04-15
ROADS WOULD RETIRE
S2l5,OOO,OOO BONDS

Figures presented to the interstate
Commerce Commission recently ct
hca rings on the appT:cation OF the
Great Northern and Northern Pacific
railroads for permission to issue
Jointly $3.50, 900. 900 in bords ind cate
that IL will cost those roads s,0,-
O0o. 600 to retire on July the ssl5,-
OO. 900 Of bones with which they rur-
chased the Chicago. Burlington &
Quincy Railroad.
George Is. Whitney. OF the Kew
York banking firm of J. +. Morgan &
Co, and other bankers and officials
OF the Great Northern and Northern
Pacific said the proposed gDnds prob-
ably would sell at 96is AMI that t,ey
would net the roads from about 90 to
91Ia after deductions for commissions
and expenses of banking nd b-oker-
age houses which will place tho bends
on the market.
The s230.o00,o0o bond issue would
be for the purpose of retiring tho
S215 .eO0. 900 in bonds dIc July /.
There was no opposition tc the plan,
which provides for a joint Issue of
81. per cent convertible sold bonds
with the Great Nor'hera and the
Northern Pacific, each putting uo s33.-
600, 900 in bonds in addi,ion to the
stock OF the c.. II. & Q. as collat raj
in order to make the securities legal
Investments for insurance compHn-
les and savings banks.
The Washington times., 1921-04-15
INT. PAPER EARNS
$142 ON COMMON
Remarkable Achievement Dur.
ing five-Year Period-Put
Back Into PROPERTY.

Annual report of International Pa
per Company showing net earnings
available for the 1913 sos shares OF
common stock amounting to s10,336,-
1862. equal to $52.07 a share, with the
exception OF some OF the Standard Oil
companies is perhaps the best of any
Industrial company SO far submitted
this year.
Earnings for the past FIVE years on
the common stock total s142.70 a
share on the common. all of which
has been put back into the property.
Earnings from newsprint manufac-
ture last year were made on the fol-
lowing prices. Quotations are adjust
able quarterly: First quarter 1920,
$50 ton; second, s11o; third. Sis,
and fourth, $3.50. Prices so far this
year have not shown any marked
recession. First quarter price was
$3.50 ton and s110 a ton for second
quarter. Earnings for the first three
months of 1921 are believed to have
been at the rate of S35 a share an
nually on the common.
Balance sheet at the close of 1920
shows that bank borrowings amount
ed to only s30s.6s7, compared with
$500, 900 at the close of 1919. In
ventories are practically unchanged,
carried at s23.s97,433 against s23.7i3,-
33s the previous year. Accounts re-
ceivable advanced $500. 900 over
1919 figures. Cash on hand amounted
to s1,ss9.0o0, against s2,4s1,3s0 the
previous year.
In relation to current business,
company has little to worry about
as it has contracted for it's entire
1921 newsprint output on contract in
advance. The production of other
grades of paDer which is abOut one
third of its total output IL sold on a
different basis and demand has
slumped considerably since last fall.
There has been q better tone to the
market in evidence the past few
weeks
The Washington times., 1921-04-15
MAY BAN
TRADING MIXTURES
Strong Pressure Exerted on
House to Suspend Dealing on
Produce Exchanges.

Legislation for the regulation Of
trading on produce exchanges and
boards of trades will be taken up
within a few days by the House Agri-
culture Committee, II was announced
today by Chairman Haugen, OF the
committee. Fst
This legislation was under consid-
GRAFTON by the committee during the
closing days Of the last Congress and
action on II was prevented only by
the ending Of the session. Farmer
Representative in the House are de-
manding that Ii be taken up again
and pushed to enactment.
Before it's final adjournment tn:
Agriculture Committee made an in
formal request OF the trade bodies that
they suspend for a few months the
dealing in futures and short sales in
order that a test might be made OF
the benefits or harm of such restric-
tions. The trade bodies did not act
on the request.
Strong pressure Is coming from the
country members on the committee
to enact Legislation prohibiting fu-
ture sales unless there is 10 be actual
delivery within fixed reriod. and
preventing all short sales. Regula-
tory legislation controllint, The prec-
Zee Of hedging. or covering deals ty
insurance against loss, and requiring
II e larger boards OF trad. an! cx-
change to admit to membership the
smaller country elevator organiza-
tons iE being urged.
The Washington times., 1921-04-15
A DESIRABLE SWAP.

Mrs. e. F.--Seversl years ago I
bought ten shares Baitimsre asA
Ohio at $50. Dividends were then
being paid and thought my In
vestment was good. but after
while payments stopped and ! have
received none since March. 1919. !
I have been advised to sell at Is
and buy American Steel Foundries
at 30. Would you advise this? Or
would ! make up the loss quicker
by holding?
Answer-We think you will make
no mistake In making the exchange
II Will be a long time before Balti.
more and Ohio Is in a position Il
pay dividends on the common, where.
as American Steel Foundries pays II
cents quarterly. II yields about II
per cent and there is no apparent
reason why the dividend should no,
be continued indefinitely. Last year
the company earned s6.37 a share
against $5.91 in 1919. The capital.
ization amounts to S20,4OI. 600 com.
rion stock of S33 Ia par value. Had
not the business slowed down in the
last quarter earnings would have
been well above the actual figures
At first sign of this shrinkaGe all
purchases were stopped and by the
end OF the year inventories had beer
reduced to the lowest point in many
years. placing the business on a solid