davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-03-02
READING HOLDERS
CLAIM $3S,OOO,OOO
Common Stock Owners Assert
Surplus Belongs to Them,
but Preferred Object.

Special Despatch TO THE NEw York HERALD.
PHILADELPHIA. March 1.--That a sur
plus OF s3S. 900. 900 in the treasury Of the
Reading company. the holding corpora
tion of the Reading Railway and Coal
Companies, is claimed by its common
stockholders was disclosed to-day
during further hearing In the United
States District Court before Judges Buff
ington, Wooley and Davis. in an effort
to perfect and receive the approval OF
parties in interest to the plan for divorc-
Ing Of the corporations At the end OF
more than two hours OF discussion the
court decided not to pass on the case but
seek further enlightenment and In the
meantime give the stockholders two
weeks In which to intervene in the court
proceedings
j. Du Pont White. counsel to the COM
nittee Of common stcckht liers, virtually
opened the fight by filing petition to
intervene in the proceedings and suggest
a modification OF the courts decree of
dissolution as presented by the Reading
company. Tie lawyer pointed out that
under the decree the Reading company
was obliged to divest itself of all assets
of the Reading Coal Corporation, and
under the plan receives consideration
that falls short Of the value of its assets.
The surplus in the Reading company
OF $33, 900. 900. therefore. Will be elimi-
mated and that action la protested against
because 1t belongs to 6le common stock
holders. 1t was argued that the pre-
ferred stockholders had no interest in
that surplus except on dissolution OF
the Reading company, which was not
being done. because the Reading COM
pany proposed to continue business as a
railway company.
Edwin p. Grosvenor, counsel to the
Adrian Iselin committee. representing the
preferred stockholders, approved of the
plan as Just and equitable to all parties.
but objected to the assertion that the
surplus belonged to the common stock
holders. He contended that the preferred
holders had equal rights under the law
The New York herald., 1921-03-02
LINsEED WRITES OFF BIG sUI.
Earnings Put at $3.50 Share.
Compared with S16.O2.

The income account of the American
Linseed Company. covering the fifteen
months ended December 81, 1920. was
made public yesterday. showing net in
come Of s1.764.765 after charges. in
ventory adjustments, Federal taxes, &c.
This is equal after preferred dividends to
$3.50 a share earned on the common
stock. In the preceding year the net
income amounted to ss.s55.s27. or $1,000
share. The statement covers the
fifteen months period because the direc-
tors changed the fiscal year to corre-
spond with the calendar year.
Profits for the fifteen months were
s13,319,045. compared with $l1,025.776
In the preceding twelve months; ex-
penses. s7.080,44s. against s6.6es,5 ,534. and
inventory adjustments. ss.571.7so. In
terest charges were ss02.042. against
s473,415
r. III. Adams, president, said: 1--WE
have not written up any paper profits
and have made our inventories at re-
placement values, which has necessitated
writing or s3,57l,79O. In the COM
pany's food products. and particularly
in the Nucoa butter sales. 1t has shown
q substantial increase Volume OF sales
for the last six months of 1920 was
nearly SO per cent. greater than in the
same period of the previous year"
The New York herald., 1921-03-02
Land Bank Bonds.

Bankers, who have been associated
heretofore with tho offerings OF Federal
Land Bank bonds said that they were
without definite information regarding
the Supreme Courts decision, but that
they expected to have the complete DIV
tails to-day The effect OF the decIslo.
was to advance the price from pre-
vious basis OF So per cent. 10 per
cent. yield TO one OF 5 "a per cent There
will have to be further advance In
price with n decrease In the Yield basis
before additional Land Bank bonds can
be marketed because the bankers are
limited practically to tho offering OF 5
per cent coupon bonds ut par. The de-
cision OF the Supreme Court permanent
~ establishes tho tax exemption feature
oc those securities, but In connection
with the market for tax exempt securi-
ties II should be noted that there has
been, and Is likely TO continue 10 be, q
steady and considerable Increase In the
output OF State and municipal securi-
ties. which arc also free from Federal
taxation.
The New York herald., 1921-03-02
burlington Financing.

Although disappointed by the unfavor-
able features of the Interstate Com
merce Commissions ruling on the Bur-
lington plan. the bankers, who have
charge of the problem of meeting the
roads s215. 100000 July i maturity, lost
no time yesterday in starting work on
new programme. which they will
present to the commission. They had to
go over In detail the opinions expressed
by the commission because five members
rejected the bond dividend plan and four
favored it-and to look at new schemes
from the point Of view of meeting the
views expressed by the members or
the commission. In other words the
problem was attacked from an entirely
new angle. which promises to be more
expensive for the Great Northern and
would have been. II Will take at least
a week before the plans under discussion
can crystallize. In the meantime 1t may
be noted that one of the big problems
is 10 get a security In which life in
surance companies may invest. The $S0.-
100000 of Burlington first mortgage
bonds. which was rejected by the COM
mission. was designed almost entirely
to permit life insurance companies to
exchange the maturing coilaterals. which
they own to tho extent OF $60,000,000 TO
$40, 900. 900. for the new issue. The
present law affecting life insurance in
vestnents Will not permit them to in
vest in a collateral security and without
an exchange OF some sort, the problem
OF meeting the July maturity would as
sumo large proportions.
The New York herald., 1921-03-02
SAC PAULOI
IS OFFERED TO-DAY
Syndicate VIII Float Bonds of
Brazilian State at 81 1-2
and Interest.

The syndicate m.nagers for the sl0.-
100000 OF sac Paulo bonds announced
yesterday that that issue would be Of
fered to-day at 97l5 and interest to
yield at least SAT per oent. per annum
10 maturity. The issue consists OF fif-
teen year per cent. sinking fund gold
bonds. due on january Is, 1895. The
banking group for the American portion
OF the 5000, 900 pounds sterling financing
is as follows: Speyer & Co.. the Equit-
able Trust Company OF New York.
Blair s Co.. Inc. Halsey, Stuart & Co,
Inc, Ladenburg. Thalmann a. Co. Cas-
satt & Co. OF Philadelphia and the nli-
nois Trust and Savings Bank Of Chicago.
The s10,0oe.000 In bonds and the
$4,000, 900 sterling In bonds to be offered
in London by Barring Bros. & Co.. Ltd.
n. NJ. Rothschlld & Sons and J. Henry
Schroeder & Co., and the is, 000.0 gull
der in bonds which are to be offered in
Amsterdam by Lippmann. Rosenthal a
Co. and Rotterdamsche BanlSvereeniging
will be direct external obligation of the
State of Sac Paulo. the most important
commercial State OF Brazil. and will be
secured additionally by first charge on
the surtax OF five francs a bag on all
coffee exported from that State, subject
TO certain Governmental deductions,
operative until August /. 1924 after
which the surtax will be available for
the service of the loan.
Bonds are redeemable as a whole at
the option OF the State at los any time
after January /, 1927, on SIX months no.
tice, except for sinking fund purposes.
They win be purchased for the sinking
fund up 10 los until November 10, 1925.
and thereafter at least one-tenth of the
bonds outstanding after January /. 1925,
will be drawn by lot at los year.
Sac Paulo ranks first in the production
OF coffee, producing about so per cent of
the worlds supply. It's coffee production
has averaged between 9.0o0,0 900 and 10.-
100000 bags year from coffee planta-
tions representing a capital investment
figured at upwards of $500. 100000. In
the last five years the State received an
nually an average of 50.000,000 francs
from the surtax on coffee exports. The
State is Brazils leader In the manufac-
ture OF cotton goods. Is the chief in
dustrial centre of that country and first
in its railroad mileage.
The New York herald., 1921-03-02
PRODUCE.

BEANs-Marrow. choice. 1920. per 100 lbs.
$s.25@s.5o: red kidney. 1920, per 100 lbs.
1928; white kidney, 100 lbs. s1425G1o
BUTTER-Creamery, higher than extras
score. firsts. 4a054c.; B3 to 81 score, 500
47c.: creamery, unsalted. higher than extras.
5Tik15sc.: extras. ssn957c.; firsts, 400
storage, extras, 4sQ49c.; firsts. 41@47c.;
seconds, 32Gr40c.; lower grades, 2SG30c..
Danish. casks. fresh, 5Sa54isc. State. dairy
soe 5ooa common nTa e fa ades, e1 @
rent make. firsts. 21Q2sc.: seconds, 24g
24sac.; lower grades 22923c.; packing stock.
current make. No. 1. 24c- No. 2. 22c. lower
grades, 19422c.
EGGS-Fresh gathered, extras. per doz..
40c.; extra firsts, 39c., firsts. 36G3sc.: sec
onds, 35G35ko; dirties. No. /. 3oG34c.:
cheelss, fair to choice. dry. 2e93fc-; State,
whites. extra. 53@54c; extra firsts, 51@52c.;
firsts. 4sG5oc; gathered whites. firsts to
extra firsts, 4sT50c.; undergrades. 44941c.:
Pacific coast. white, firsts, Soc; pullets. 81
whites. 4QT4ac. hennery browns, extra, 42f9
44c.; state, Pennsylvania and nearby, brown
and mixed colors, gathered. graded, extras,
4oc.; firsts TO extra f.rsts, 37g39c.
POTATOES-Bermuda. bbl.. S6l9.5o; old,
$50 lbs, $2a275; 16o lbs.. 81 1909. so; $50
lbs. 81 i50l62 Long Island, bag, S2.50T3.a0.
swEETs-Jersey bsls.. 81 2512.25; Southern.
bsk., sl.25G1.s5; yams, bbi., $3epo.
POULTRY, pKESSFIb-fAst. II KILLED.
CHICKENS-Fryers. boxes. 32I35c.; roast
ers. 32dD42c.: stags, 3id42c.; bbls., 31gi2c. !;
stays, 2sQ3ic. FOwLS-Boxes. 21G3sc. !;
bbls.. 271s6c. old cocks. 24N2sc,: capons.
a2GI4sc. TJRRFYS--Young. 10000; old, 30
nEsc. DUCKs-Western, 2STtoc. GEESE
Western, 26Q3ec. GUINEAS--Pair 15c.@
sf.75, SQUADS Doz., $5I11. FROZEN
CHICKFNS-Broilers. s6n56c.; fryers, $40
SIC, roasters, 34ff l3c. FoWLS-27I3Sc. /; old
cocks. 24a27c.; capons, sossasc. TuRkEYs-
Young, 5516cc.: old. 5s@5ac. DUC<S--Loag
Island, dc: Western. 30940c. GEESE-26
@s6c.
POULTRY, LIvE-FQwLS--Freigh &c. !
express. 35fI3Sc. CHICKENS-Freight 2S9
3sc; stags, &c.: express. 30Gp3Sc.
broiiers, freight. ibc.: express, 45G50c.
OLD RooSrERS-Ereight 20c. TURKEYS
Freight, 4srG4sc.: express, zoe. DUCKS
Freight. Acc: express, 4o64sc.; Muscovey,
25c GEESE-Freieht. 23c.; express. 25a
CSC. SwANS-Frcight or express. 1Ic. PFC
eO015c. GUIEEAS-Pair. 55Q
roc. RABBfTS-Eypress. ib.. 2oGfS0c.
The New York herald., 1921-03-02
Home Telephone Offering.

An issue Of first closed mortgage S
per cent gold bonds OF the Home Teie-
phone and Telegraph Company OF Spo-
kane. subsidiary OF the Pacific Tele-
phone and Telegraph Company, is being
offered for public subscription by Rutter
& Co. and Charles ID. Barney & Co. for
1914 and interest to yield moro than
7.25 rer cent. The bonds are dated May
Is, 1906, and are due on May 15. 1886.
The Pacific Telephone and Telegraph
Company operates the Home Telephone
ana Telegraph Company as an integral
part of its organization and controls
the company through ownership OF most
OF It's capital stock The bonds are se-
cured by a closed first mortgage on the
entire property OF the Home Telephone
and Telegraph Company. which, prior
10 purchase by the Pacific Telephone
and Telegraph Company, operated an
independent telephone system in and
around tho city OF Spokane The entire
issue Of the bonds, amounting TO $1,000
900. is guaranteed Internationally by In
dorsement as 70 principal and interest
by the Pacific Telephone and Telegraph
Company.
The New York herald., 1921-03-02
Sells sI.ooo,ooo Issuc.

The Howard Smith Company, a Cana
dian concern. has sold to Aldred & Co,
Ltd. OF Montreal $4,000 OF per
cent twenty-five year refunding mort
gage sinking fund gold bonds The is
sue is part of $7.000.000 In new bonds
authorized. Of which ss.5O0,0O0 are 10
be issued. s2.j00,000 remaining In es-
crow against other issues and new TIM
ber limits. Aldrod X Co.. Ltd Of Mont
real II controlled by Aidred g. Co. OF
New York. 1t is understood that part
of the issue may be offered In this city.
The price OF the bonds has not been
fixed but probably Will be announced
within the next few days.
The New York herald., 1921-03-02
EXPORTS TO EUROPE
FALL OFF SHARPLY
u. s. Trade With South Amer
lea Also Declines, Says Com
merce Department.

WASHINGTON, March 1.-American
January compared with December and
the volume Of trade with South America
also was reduced according to a trade
review issued to-day by the Department
Of Commerce.
Exports to Germany decreased almost
s10.000.000 and imports nearly $1,000
900. Exports to Central America In
creased a little, while imports fell off
slightly. Both exports and imports
to Cuba showed gains.
Here are the figures with three naughts
l0Q0) omitted:
The New York herald., 1921-03-02
Csnada VIII Not Refund bonds.

The NonctorY Times OF Toronto states
authoritatively that the Canadian Gov
ernment haa completed arrangements 70
care for the small balance OF the S25.-
O00 600 OF s per cent. bonds which ma
ture IN April without refunding. The
Canadian Government has bought up
and retired considerably more than a
majority Of the bonds, according TO that
periodical The April maturity IL one
third Of the s75,oo0,00 Canadian Gov
ernment loan floated in the latter part
Of 1915 NJ basis ranging from 5i5 10
$40 ucr cent
The New York herald., 1921-03-02
LOFT EARNS s1.1o A SHARE.

With sales In excess of the preceding
year by approximately si,500.000, Loft
Inc. candy manufacturers. report for
1920 net income after taxes of S718.923,
or $1.10 a share earned on the capital
stock, compared with s1.164,864. or S1.76
a share, In 1919. Sales aggregated ST.
542.s67, compared with $6.04s.3S9, and
expenses. s6,780,613. Other income was
S62.S69 and reserve for taxes Sl26, ,000
The New York herald., 1921-03-02
81, ,a5o.ooo HiaeiEo County Issue.

Tho William r. Compton Company
Is offering a new issue OF Si.250,o00 OF
H;dalgo county. Texas water improve
ment district No serial per cent
bonds. due scrially ~ 1921 50 1850, to
yield ca per cent They are part OF n
total authorized issue Of $500. 600.
which comprises the only bonded debt
OF the district and contrasts with the
county's valuation Of s1S,137,327.
The New York herald., 1921-03-02
Asks Authority for Issue.

The Texas City Terminal Railroad
OF Texas City yesterday applied TO the
Interstate Commerce Commission for
authority 10 issue sf,9s4.3o0 OF first
mortgage bonds and common stock for
100000 at par value for payment OF
terminal property now leased by the
comppny.
The New York herald., 1921-03-02
GENERAL cIGAR EARNINGS OFF.

The General Cigar Company reports
for 1920 not earnings after charges and
taxes Of s2.4S9. 500. equal to s12.59 q
share earned on the common stock after
preferred dividends. This compares
with sf5.75 n year ago. Preferred dIvi-
donds aggregated 100000 and common
disbursements 100000, leaving d sur
plus OF s1.0s9.s69. The totad profit and
loss surplus after adjustment Of $4,000
The New York herald., 1921-03-02
Average Bond Prices
BOND NEWS AND NOTES.

An industrial issue amounting to
SIS, 600. 900 or SO, 100000 is scheduled for
offering tomorrow morning by Dillon,
Read & Co. Much new financing is
under negotiation. but none of 1t is ex-
pected to be consummated this week
Next week, however. should see re-
sumption of activity by bond whole
salerS.
The New York herald., 1921-03-02
minnesota sells nay state Bonds.

The state or Minnesota sold to wat
klns g Go. S905.000 of Commonwealth
of Massachusetts, registered gold bonds
which were held in is treasury In con-
nectlon with a special school fund The
bonds were Offered by tho bankers for
prices yielding SIS to per cent. anu
the isaue was oyersubscribed. -Four
hundred and thirty thousand dollars OF
the bonds carried . per cent coupon
and are due IN 1928 to 1851 and si75.-
600 were 81 per cent bonds due In
The New York herald., 1921-03-02

1887 TO 1912. II is believed that the
object OF the state OF Minnesota in sell
ing them was TO enable II 10 place
Immediately the funds In Liberty
bonds yielding considerably more and
offering speculative feature.
The New York herald., 1921-03-02

compares with S14.ss In 1919. After
paying sGo0,262 In preferred dividends.
not including s1.132.s00 new preferred
stock Issued to pay balance of accu-
muisted dividends. tho surplus for the
year was s485,964, with total profit and
loss surplus s1.477,5ss.
The New York herald., 1921-03-02
BAKING PROFITS UP.

The General Baking Company's report
for 1920 shows net profits after charges
and Federal taxes OF st.0ss.22e. or
efs.7s n ehare earned on the outstand-
ing per cent preferred stock. This
The New York herald., 1921-03-02
American Gns Calls Notes.

The American Gas and Electric Com
pany has called It's outstanding per
cent notes. series 1921 and 1924. pay
able on April 20, al tho Irving National
Bank.
The New York herald., 1921-03-02

was denied by one Of the company 8
officials yesterday He stated that the
company did not intend dong any new
financing at present
The New York herald., 1921-03-02

Francis Ham and Edward Hindley, for
merly OF Lawrence Chamberlain q Co., have
formed partnership as Ham, Hindley &
Co., 10 transact a general investment busi-
ness In SO Broad st.
The New York herald., 1921-03-02
Denies Pnrn OF Rrnnrf.

The report that tho Pure OIL Conn
pany contemplated the notaion OF
note issue. circulated In Wall Street,
The New York herald., 1921-03-02

John 8. Harmon. who was admitted TO the
firm of Imbrie & Co. on January /. has
taken over the direction OF tho Chicago
office. succeeding John r. Trow, resident
partner In Chicago. who retired yesterday.
The New York herald., 1921-03-02

Ames. Emcrich 4 Co.. III Broadway. have
that building.
The New York herald., 1921-03-02

Brown Bros. Co. have issued a circular
describing rail. Industrial and public utility
convertible bonds yielding 20 9ts per cent.
The New York herald., 1921-03-02
FINANCIAL NOTES.

The New York Stock Exchange has ad-
mitted to the list 81, 600 shares Of additional
common stock of the Stewart-Warner
Speedometer Corporation.
The New York herald., 1921-03-02

Taylor. Bates & Co. announce that as OF
March /, 1921, l.. Stuart Wing has become
n general partner IN the finn.
The New York herald., 1921-03-02

The board OF the Brooklyn Edison Com
pany has been reelected. except Franklin W.
Slater, who was elected in the place OF Mr..
william v. Hester, resigned.
The Cordova daily times., 1921-01-05
ALASKAN PUTS STORY OF LIFE
 IN BOOK FORM

Alaska Mans Luck,' described in subtitle as "A Romance of Fact" is the latest book by an Alaskan au- thor to make it's appearance, and it is receiving considerable attention from Eastern reviewers. The New York Times recently gave it a whole page in it's book review section.
 The story written in diary form, and tells of the experience and ad- ventures of Hans Hajalmar Rutzebeck, who is building farm on government land near Haines. The diary begins with February IA, 1914, and the last entry is May 19, 1917. The diary of 1 course, in the first person, and the name used by the author is Svend Norman, but the preface explains that the adventures and experiences are those of the author. The book is well written, the incidents quickly and di- rectly narrated, the descriptions en- tertaining and true and the philoso- phizing not at all tiresome, and con 1 fined strictly to the deduction of ar active mind from actual experiences as they are related.
 The writer is a native of Denmark and was still in his twe1ties when he closed the book. He had quit school as a boy and gone to sea. Later he enlisted in the United States army, and came to Fort William H. Seward. This is brought out in the preface and in the subsequent entries in the diary. The actual story begins with the author in Los Angeles, lately hon orably discharged from the army. There he meets a girl, who becomes the ideal of his dreams. She agrees to wait, without promising directly to marry him, for him to return to Alas ka and make a home. From this time to the end the entries in the diary take him through three eventful years and tell the story of his life, together with the every day experiences which are told in a way to rob them of any hint at commonplace, and testify to his unWayering devotion to Marian surname never mentioned, nor other details, except of course, she is beau tiful, sweet and brave.
 The author beats his way north
The Cordova daily times., 1921-01-05
Back Ache
EimheP up With Penetrating
 Hanllin's Wizard OH

For Lame Back, Sideache, Shoul- der Pain, Stiff Neck, etc, use Ham, lin's Wizard Oil. It penetrates quickly, eases the pain and drives out the soreness. Keep it in the house.
 Wizard Oil is a good dependable preparation to have in the medicine chest for first aid when the doctor may be far away. You have no idea how useful it will be found i'll cases of every day ailment or mis- hap, when there is need of an inn mediate healing, antiseptic applica- ton, as in cases of sprains, bruises, cuts, burns, bites and stings.
 Generous size bottle 35c.
 If you are troubled with constipat tion or sick headache try Hamlins Wizard Liver Whips. Just pleasant little pink pills at druggists for soc.
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1921-06-09
ANNUAL SCHOOL SERMON.

The sermon to the graduates will
be preached by Rev. ]. M. Hayden at
Scott NJ. E. church Sunday afternoon,
June IL, at o'clock. Beautiful music
has been arranged by both the school
and choir for the occasion.
Music.
Chorus-School.
Prayer-Rev. Robt. Jackson.
Chorus-School
Scripture Reading - Rev. J. d.
Walker.
Chorus-School.
Sermon to Graduates-Rev Robt.
Jackson.
Anthem-Choir.
Benediction-Rev. David Mcfarland
Eighth Grade Play.
The Eighth grade play, 1.-THE Dea-
cons Notification" at the court house
Monday night, June 10. Some beauti-
full solos, duets and trios will be sung
in connection with the play.
High School commencement at the
Opera House, Wednesday night, June
Is, at 8:15 o'clock.
The regular monthly meeting of the
Maysville branch N A. A. c. P. will be
held Friday night, June 10th, at the
Odd Fellows Hall, 11s Sutton street.
Please come promptly at 1880.
c. N. BRAXTON, President
BESSIE HIGGINS, Secretary.
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1921-06-09
DON'T MISTAKE THE CAUSE
Many Maysyille People Have Kidney
Trouble And Do Not Know II.

Do you have backache?
Are you tired and worn out?
Feel dizzy, nervous and depressed?
Are the kidney secretions irregular T?
Highly colored; contain sediment?
Likely your kidneys are at fault
Weak kidneys give warning of dis
tress.
Heed the warning; don't delay
Use tested kidney remedy.
Read this Maysville testimony.
Bryan Greenlee, proprietor grocery
store, 23S West Third street, says:
About two years ago I had an attack
Of kidney trouble and l suffered a lot
from backache. There was a deep
seated pain across the center of my
back. l was repairing machinery at
that time and when doing any kind of
STOPPING work I could hardly straight
en- up. My kidneys were not acting
regularly and in other ways showed
signs Of disorder. I went to Wood &
Sons Drug Store and got a box Of
Doan's Kidney Pills and began using
them. They fixed me up in good shape
and I have never been bothered since"
Price 60 cents. at all dealers. Don't
simply ask for kidney remedy-get
Doan's Kidney Pills - the same that
Mr.. Greenlee had. Foster ilburn Co.,
Mfrs, Buffalo, N. Y.