davidaulloa/AmericanStories huggingface dataset:
The Pickens sentinel. (Pickens, S.C.) 1911-2016, 1921-09-08
Tho Souls Sinc.re Desire.

'ihe Poet has we'll defined prayer as
'Hrng the souls sincere desire utter
"n nr unexpressed." Another has well
'i"rIarpu that It. ''is the christians
Ni:Hl breath: that is to say. Christian
laractcr cannot be maintained with
en-! prayer any more than a human
'''r could be maintained without
''H"Athing. Who has not noticed that
81 the great Bible characters used OF
,tc Almighty were accustomed to go
% liim regularly in prayer and to
>t"'i for guidance from Him in rc-
"".t to every matter? Ever the great
f"ircnrr holy. harmless. undetiled
.'Md separate from sinners. needed to
..ray TO the Father needed IIis fel.
!"WShip and communion needed to be
"ral OF His prayers are recorded. and
wu are told that He spent The entire
n!:"ht IN prayer on some occasions
Some may ask. Would the Almighty
hnnge His plans IN answer 10 our pe-
,iiions? Assuredly He would not.
'n'lerd. on the contrary. we are eau.
lined Ia the Scriptures TO ask only
according to His Will We are warned
that II we ask amiss our petitions will
not, be answered. Hence the necessity
Tor studying Gods Word aud being
enlightened thereby.
The Redeemer gave us the keynote
t" this. saying, "If We abide in Me and
My words abide In you. We may ask
what ye will and 1t shall be done
unto you" Uohn xv, ~ Alas. how
few seem to note the two limitations
nf this promise
~ The one asking must he in Christ
abiding In :, Him. This means that
!he petitioner has turned from sin. has
""repted Christ and The terms OF dis.
'nleship. 1t implies that he has made
The Pickens sentinel. (Pickens, S.C.) 1911-2016, 1921-09-08

Fresh shipment Sweet Sixteen
hour' the best quality plain -four sold
IN Easley. We can prove it, Give
IT trial. Bennett Mercantile CO.
The Pickens sentinel. (Pickens, S.C.) 1911-2016, 1921-09-08
S S'lalRJDfArtENI IltaEs1
!.yHBtewKIYNy J
!. |;|;:.,5lBERNACtfi
'W' .MBlE.sT05Di
"MENe, TEkEL, UPAARsIh.-
We Reap 40 We Sow-kina Belshav.
xar's Last Feast.

We Reap 40 We Sow-kins Belshas.
xaps Last Feast.
DaNisl v-Nov. II
For God sholI bring epery .oork iato tsds-
mctis, W1fh every secret thing, cAetA<'
Il Do good, or sohether It DO epiI"-Bccys-
siastes sH, IL
LAW of retribution operates.
fcn Good thoughts. good words,
=. IA good deeds. are sure to bring
good resuIts-sooner or later
..'il thoughts. evil words, evil deeds.
ar sure to bring evil results-sooner
~ later. This Divine Law operating
II The world. rewarding good and evil
"reds. save in exceptional cases. now
q! crates only amongst the Jews and
;,,:ongst Christians. This is because
"h'y Jews and true Chris ans have
i"ine into covenant-relat1on with
: d. The Apostles declaration ie
The Pickens sentinel. (Pickens, S.C.) 1911-2016, 1921-09-08

). ). McSwam Sam B. Craig
Greenville, S. C. Pickens. s. c..
McSWAIN e. CRAIG
Lawyer0
Practice in State and Federal Courts
Pickens Office Phone 80
The Pickens sentinel. (Pickens, S.C.) 1911-2016, 1921-09-08
Trs.s.---ee :
AYT1fanfNII.nts
81 GLBROKlYN y
II;?5lXBERNAClf
nv .ABlE. STUDIES.
.RBLE. STUDIES.
THE VALUE OF PRAYER.

Nehenniah's Petition For israei.
Nehemiah i--Nov. 20
"The ensotSdI, ferpent prayer Of a ytoAteov
ntow ocotssth m~cA. "-Jaa,cs y, is
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
Buying Spreading Now
Credit Guide" Reports Inn
provement in All Sections

Orders from sections OF the country
that previously have been dormant. ac-
cording to The Credit glide" last
week added 20 the increased purchas-
ing from certain sections WHICH have
been active for the past two months.
Wholesalers are new sending their
statesmen into almost every stat. in the
Union,' says The Guides weekly re-
view of business. the improvement is
noticeable in all lines.
This marks the close of the second
m onth OF continuous betterment While
the improvement in ..Ne last week was
not IN proportion to tn4t OF the previous
week, vet there has been an increase
IN buying.
I'm the women's wear for every | ,00SS
orders reported this week there were
GAP last week. and in the mems wear
for every 1000 orders this week there
were go last week
collections, as reported by whole
saiers throughout the country, show
a slight improvement over last week.
but not IN proportion TO the Increased
volume OF business. Accounts, that are
three and four months past due are
slowly being paid. Many merchants
still continue to pay the old accounts
in partial payments. The wholesaler
is inclined TO tolerate this for a while
in order to avoid that pre- ssure which
usually lands the debtor Ia bank
ruptcv'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25

A'lkc most tOCom otIvc engineers, who
must always be within call Mr. Stone
early acquired the reading habit. He
is still n persistent reader. and al
though he is thorough reader of the
magazines and newspapers, his hobby
IL ancient history. Mr.. Stone possesses
an extraordinary memory. He rcmem-
bers the individual details about many
Of the brothcrhood's huge membership.
Another special delight of Mr.. Stones
is to break away from the city and
romp in the mountains, but his vaca-
tions arc relatively few. Having been
fireman and an engineer, Mr.. Stone
is practical man and an expert in
respect to the practical problems of the
men who direct the motive power of
trains.
There is romance in the labor move
ment, as in business.
1t is this practical dreamer who
meets railroad executives to confer
regarding working conditions. 1t is he
who interprcts the demands of the rank
and file Of the men and reconciles them
with the attanablc. 1t is he, together
with the heads Of the other three
hrothe GODS, who will have the power
TO declare great railroad strike if the
men authorize it,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
Free Courses in Silks

The New York Evening Textile
School under the Board of Education
announces the reopen;ng of its free
evening classes on silk analysis and
construction.
This course is intended for those in
the wholesale, cutting-up and retail
trade as well as for those in, the silk
mill who desire a more intimate
knowledge Of silk manufacture No
special qualifications will be required.
as the instruction will be elementary
and progressive. This course will BIC
given on Monday and Wednesday eve
nings from 7 to and will begin on
September 49,
The advanced course. which is in
tended for those who attended last
season, will take Up more complicated
work and later go into jacquard
analysis and design This coarse will
ee held on Tuesday and Thursday eve
rings from 7 TO 9 and will have it's
first session On September 20
Prospective students may register or
! obtain further information, at the
| Textile Sch TOOL 124 West Thirtieth
Street, any school evening on ard aftes
September l. from 10 3.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
DE }erred Asseis''

After current assets there is often
an item, deferred assets" which may
refer to a great varietw of things, and
about all the attention that need be
paid to it is to note changes from year
to year. and if the change should be
very large 1t should be accompanied by
an explanation from the company.
On the liability side Of the statement
there is shown first what part Of the
business its proprietors own. With a
corporation this is ordinarily the par
value Of the stock outstanding and the
amount of the surplus, if the company
has surplus. Thus a manufacturing
company has S5,O00,O0O stock out
standing and has a surplus, the &C
cumulaticn of earnings in past years
not paid out in dividends, of SO 900 600
The total amount of the business which
its proprietors or stockholders own, is
$1,000 oo. But from the point Of view
of the creditors Of the business their
claim may be disregarded because it
is claim against the business junior
to the settlement of all indebtedness
of the business whatsoever.
Bonds Outstanding
The amount Of bonds outs tandig on
the other hand. represents money which
the business has borrowed and against
which it has given written promises to
pay interest and principal in full on
certain liked dates. Stock and bonds
together are spoken of as the capital
lzation Of the company, and it is Gus
! tcmary to subtract from net income the
amount of interest called for annually
by the bonds and then to compare the
amount of stock outstanding with the
remaining net earnings. Usually this
difference is stated as so many dollars
earned per share or such and such d
/ per cent earned per share.
Current liabilities consists usually of
accounts payable, bills payable. which
generally include loans of short term
made at the bank; wages payable and
accrued interest. etc. not vet payable
/ Unlike accounts and bills receivable
accounts and bills payable must be
taken at their full face value, and a
/ comparison should be made first with
the amount OF cash and then with the
Mount Of total current assets. Since.
therefore. current assets are liable to
delay and to discount the larger the
( proportion of current assets to current
liabilities, and more especially the
larger the proportion of cash to &C
counts and bills payable, the sounder
/ state the business is in.
The study OF an industrial company S
! balance sheet amounts to an attempt to
| Judge the value of the assets: First
availability to meet liabilities. and last
as to what equity the proprietors have
in the assets after all liabilities have
been sat SIZED To form this judgme MT
/ the irreducible minimum Of informa-
/ ton which is required in addition to
the balance sheet is statement Of net
/ earnings.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
Report Once q Year

Companies generally report only
once year. The earning power Of
an Industrial company in many lines
can change within two or three months
so radically that a company which has
been conn araUively poor Garner may
become war baby" even in times
Of peace, through some peculiar cir
cumstances which affect the industry.
In the interest of investors, it is un-
fortunate that the New York Stock En-
change does not require monthly
statements of earnings from all com
panies whose securities are listed
thereon.
The annual income account relates
to period that is past, and for ten
months each year to period that is
long past. On the other hand, the
balance sheet statement pertains both
to the past and to the future, and for
this reason it is the balance sheet
statement of industrial companies
which is of the utmost Importance to
understand.
The statement is called balance
sheet, because it balances. and 1t is
we'll to bear in mind that the poor book
/ keeper has got to make it balance.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25

next crop would be short by more than
a quarter million tons. The fact is
that lands have been cleared and the
sugar cane throughout the island is
in splandid condition and portends a
bounteous crop of sugar. Everybody
in Cuba wishes some miracle would
cause the rest of this sugar cropto
dlsappear-and it seems that nothing
short Of q miracle can save the island
from a crisis. Some of the more pes
simistic here urge that creditors
throughout the United States review
their dealings with Cuba for the last
several years and compute their enorm-
Gus profits. Then, it is suggested. thew
should account into five parts and ar
range to accept liquidation of their
debt upon that basis. 1t is argued that
Americans will eventually get their
money in this way, whereas if thew
force their clients into bankruptcy or
recelvershlps, as you say in the States.
they may never get one cent of their
account.
Meanwhile Havana prepares for its
winter season and offers a program of
sports beyond equal
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25

hst,u ,ud x,a ~
-od ,,.;.,, ~
I ~ .h @reu VIZ .nae VI pleS;o's. va, .
~ - 49, 20 " IA ~ ii'elsasv III Tue WI
y .t., az 'oin pa'eu WIN .ue
~ss "'s'ioue any CORRESPONDING W.
eios'He =" l'el earnings We may ass ~
one o. '"o Things elther tnao 'ns
,o'npa"S IS qo'hs ,nrger Vo'u'nc o.
oNS'tesS without making coz fcSpo'lu
,t'eiy larger Prones' or that us coiiee
IONS are uhusuaiiy sio"
'hNeHtofIeS on oaionce shecI rep
resent the amount at which the com
pany values the materials, suppucs'
etcr when 1T uses IN manufacturing
- Producf. ne right way TO stat"
ohe amount o. inventories IS on Vaiu-
or tne mAr.el pr &c OF the materia $
or 'ne market price OF the material
as Or tine gate OF the balance sheet,
whenever IS lower. In ether words,
SOUND business requires that II the
company has sutl cred d loss through
buying material at higher price tnan
tne present price It should write that
loss OIL before drawing up the balance
sheet whereas if tho company bought
materials at lower price than it could
nuy them now It should not write up
fheir value on the balance sheet, but
$nould continue to carry them and
take ln'o rs income account IN the
year IN WhiHh IT. manufactures and
seHs ITS goods the profits obtained
from haNlnE pousht at low pr'cc.
a rCnS1Gc RI riC n 10 Il ffirIiI+j . .
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
Sugar Commission
To Retain Power:
Surplus Is Large
From d Special Correspondent,

HAVANA, sept. 20.
The President of Cuba declared Off
cially yesterday that the Finance Com
mission to handle the sales of Cuban
sugar would continue in power until
the last bag of the present supply of
sugar was sold
This sets at rest the rumors that
have been prevalent for several weeks
TO the effect that the commission would
be dissolved and the balance of the
l92O-2l sugar crop thrown on the mar
ket for any price it would bring.
Whether the action of President Zayas
VIII serve as prop to stave off for a
time the impending catastrophe
throughout this republic or will hasten
the breaking OF the storm is assuredly
going to be decided within the coming
SIX weeks. There remain unsold to-day
almost 100000 bags of sugar-an ex-
cess of 100000 bags over normal re-
quirements-and within three months
the new crop will be fit for harvesting.
Nearly year ego the Sugar Commits
sion was created The total work of
the commission has been disappointing
to the Cuban people Expected sales
at prices set failed to materialize and
the reported scarcity of sugar in the
States and the assurances that England
and France would shortly become
heavy purchasers have not borne fruit.
1t is apparent, however, that the per-
sonnet of the Sugar Commission in
New York as we'll as the New York
bankers interested in Cuba have more
knowledge of the situation and more
weight with President Zelayas than
the opponents of the commission.
Last season for one reason or an
other scores Of sugar mills did not
begin grinding cane until February
instead Of December or January to the
latest and experts decided that the
crop would not run over 100000 tons
1t reached almost 1000 900 tons-2S,-
10000 sacks of 325 pounds each.
During the last two months the re-
port ran current that the farmers
we're not able to clean up their cane
lands, that they could not purcha SC
fertilizer and that consequently the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
Fixed ASSETS

Fixed assets Of a manufacturing COM
pany are continually depreciating, and
therefore from ye;V to year their bal
ance sheet value vhould be written
down, and the compvny from year to
year should be doing Il certain amount
of replacement If the company makes
no statement, OF what depreciation it
is charging, and what 7 is investing
in fixed assets as additions and better
ments each year, or rs ivpaceme nts,
some steps should be takenS to investi
gate this matter n some ,sther way
However, having nothing but the sue
cessive balance sheets to go by and
the statement of net income, iNere is
still a possibility OF judging fairly
well as TO what the policy OF the IMAM
agement is. If the value OF the Want
has been increasing from year to ycar
as carried on the books of the &C n
pany, but the net earning power of the
company has not increased at least inf
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25


as we4N as to railroads. Some indus
trials make an elaborate and detailed
report, iNllng many pages, as, for in
stance, the United States Steel Cor
poration. Many others, however give
their stockholders a mere balance sheet
statement, without even an income ac-
count. Nevertheless, this balance sheet
statement is generally certified TO by
reputable fnU of public accountants,
and comparison of successive balanc e
sheets will give <, fairly comprehensive
picture of the conpany's business.
AS preliminary, to the study of an
annual report it is essential to make
some study of the nature Of the bust
ness. One Of the easiest ways to do
this is to consult Poov's or Moody's
Manual at the public library or else
where and read the desc siption Of the
business given therein. u is good
plan not only to read the \descriptio
OF the particular company in which
you happen to be interested. but also
to read the description Of othsr compa-
MES engaged in the same kind of bust
ness
Very few industrial companies give
fuil enough income account tN per
mt useful analysis. AS a general rule,
my "eSiH with the amount lett Atter
the payment OF manufacturing east
and operating expenses, and the v
come accounts. therefore, consist large
y of a description of what has been
dcne with the net amount that was left
after the payment of manufac turing
cost and expenses. The amount Of
this net is important. The difference
between the amount of net over a
series of years and the fixed charges
in the first place, and the face value
OF stock outstanding in the second
place, indicates the earning power of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
4Creafure Of Labor

The brotherhood and individual men,
hers exclusively own the bank, and
though it is creature OF labor, like
ether banks. j. makes drives for new
commercial and savings accounts, cant
na;rns for insurance, and is about TO
extend its service in recommending
high grade bonds.
And vet Mr. Stone, who since 1905
has been grand chief of the Brother
hood of Locomotive Engineers, consist
ing of some $4,000 members. each Of
whom pays fifty cents month in dues,
believes that the brotherhood bank
represents something new and distinc-
tive. This genersliss imo of the rail-
road labor movement was seated in his
Office on the eleventh floor of the
Brotherhood of Locomotive Engineers
magnificent fo urtcen-story cffice build
ing. when the Tribune man called on
him q few DAYS ago. A massive indi-
vidual, nearly six feet tall broad-shoul-
dered and powerfully built, Mr.. Stone
at his desk looked infinitely more like
q captain of industry than a labor
leader His hair is quite white, and his
mustache, too. His eyes are 4 grayish
blue, and. though tradition holds that
he and three ether brotherhood chiefs
frightened Congress in 1916 into pass
ing the Adamson act, they have kind
" twinkle.
Mr. Stone is a most hospitable host.
never suggesting that his time is valu-
able He answers questions freely
without Weighing his replies. He told
the Tribune representative a few
things in confidence, but left him free
to publish most of what he said. Mr..
Stones friendliness was displayed in
the face of a sophisticated prejudice
against the policies of the American
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25

Luckily for him and unluckilv for the
investor in some cases, making it BAL
ahce IS mere matter Of bookkeeping"
"A balance sheet therefore from the
point OF view of investors is a state
ment of assets and liabilities which
mas arbitrarily been made to balance
by bookkeeping n ethods. Herein lies
the Importance OF the certificat;on Of
a reputable firm Of public accountants.
us cerUi Ncaton IS guaranty that
the bookkeeping methods used are
legitimate.
The fact that the English arrange
their balance sheets with the liabilities
on the left hand or first page of the
balance sheet, and the assets on the
right or second page of the balance
sheet Is something more than mere
chance. 1t indicates difference in
point Of view The Englisnman states
what he owes, and then lie states what
he has with which to meet his debts
Ire American accountant states his
assets and against that he shows what
he owes.
Our first concern is with the assets.
Sometimes the first item among as
sets IS the fixed asset, such as the
plant, machinery, real estate, etc
Sometimes this is the last asset on
the balance sheet. At any rate, il is
good item ID start with II is as i'm
portant that there should not be too
large an amount under fixed asset as
too small an item. If the nature of
NE business is not such as to require
large investment in fixed assets. a
age figure carried on a balance sheet
for fixed assets should be ar object of
susp Lion and not of trust. Once more,
we must remember that friend book
keeper. has got TO make his statement
of assevs and liabilities balance, and
he may start padding his assets with
the very Srst account, the fixed invest
ment, if liz finds that the most con
vcnient wa OF stretching out the as
set side unSil IL IS as long as the
liability sideN
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25

Warren Sanford Stone. who used 20
locomotive over a onc-traok di-
vision for the old Roca Island. is pres
;aent Of the hsrk. and the other direc-
ears who are guiding the destinies Of
.,;s new engine Of finance, used to hold
the throttlcs or locomotives.
The only important labor bank in
mi. country looks little different from
.,he, small banks In the customers
room on a periodical table one finds
THE American Magazine" and one
Tins feels reassured that the conven-
lions Of banking are not being unduly
disturbed by this new laboratory in
finance.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
Learn Nature Of Business TO
Study Industrial Reports
1t Is Well, Also, to Find Out Something of
competitors Activities; Difficulties of Finan.
clal Statements Are Explained
By William E. HOOPER

XX 11IAa r. MAT7I years 400 was ~
w oean OF railroad had been ene ,,
che1 accounting officer for Coils Huntington and
arman never tired of kfu bookkeenn
nSht BE- IN the had
MAKING balance sheet was bound to cono m
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
brotherhood of Locomotive Engineers
Institution Is Called
Bank With a SouI'
By Merryle Stanley Rukevser

ABOR becomes capital in the Brother
hood Of Locomotive Engineers National Bank IN
1 months of its existence, the bank
diversity localities slooooOo0 deposits gaining at the rate Of
month
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
GRATING Middleueu

m. ar, Stone declared that the bank has
ssoahd many middlemen WAC make
~ oy securing laons for experienced
,t.o~ers. One man got 81 900 for
seerin: loan for a woman. When Mr..
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
How big Operators
Seek Market Profits
Liyermore Plays for the Long Pail"
While Others Scalp Small Amounts
i'll Day-to-Day Swings
By James o. Parsons

following down to business
w recently rubbing and after
extra long holiday spread of the