davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-05-17
us. POLICY TO GUARD.
OUR RIGHTS IN OIL.
Hughes Details Efforts to
Check Discrimination by
Foreign Powers.

WAsHINGroN, May 16.--It is the policy
OF the American Government in every
part OF the world TO inquire and make
representations 10 foreign governments
wherever It appears that monopolistic
petroleum concessions might be granted
TO the possible detriment OF American
citizens" according to a State Depart
ment report signed by Secretary Hughes
and transmitted to the Senate to-day In
answer to a resolution passed by the
Senate a year ago.
Mr.. Hughes included in the report
copies of communications exchanged be-
tween the United States and the Neither
lands Government In reference to the
Djambi oil fields of the Dutch East Indies
and summaries OF State Department ac-
tions taken In Mexico.
The report supplemented and brought
up to date information given the senate
last year upon the world oil situation,
and the diplomatic steps taken by the
United States iu endeavoring 10 NAM
tain rights OF Americans to participate
In the exploitation OF foreign oil fields.
During the year" the report salo.
''the operations OF the Anglo-Persian Oh
Company, In which the British Govern
'
shares, have steadily Increased"
In British dominions and French pos
sessions further steps were said to be
tending to establish ownership Of oil de-
velopments and potential fields IN the
nationals of the country concerned.
In the Djambi matter. the statement
said 1t was hoped the concessions bill
recently passed might be modified 10
let Americans participate. but under pres
ent conditions 1t was certain that control
OF tho development would got to the
Batafsche Petroleum Company and the
Shell Transport and Trading Company
AS. to British possessions. the report
said an agreement was concluded DUR
ing the year by which the Papuan oil
fields are to be exploited under direction
OF the Anglo-Persian company. In India
II adds. regulations now refuse permits
to prospects for oil except to British
subjects, or companies controlled by
them. In Canada the only new restric-
tions noted was one denying the right
to prospect or develop within the do
minion to citizens Of countries which
discriminate against Canadian subjects
The text of the San Reno agreement
Affecting French territories was incor-
porated. by which oil operations here
after are to be open only to French ma
tionals and corporations In which stock
Is held by French citizens to the extent
Of 81 per cent.
Recent DEGREES promulgated In Mexico
were given In the report. together with
a statement that the United States had
not been informed OF any steps taken
to the detriment OF American citizens
under them. though representations were
continuing in reference to oil land titles.
The New York herald., 1921-05-17
ELECTIONS AND -lEErInGs.
sIMMs PETROLEUM COMPANY,
Incovpovnt<A

Pursuant TO the provisions OF the By-Laws.
tho annual meeting of the Stockholders of
5IMMs PETROLEUM COMPANY will be
held nj the offices OF the Company, 100
Broadway. Borough OF Manhattan, New
York City. on "wednesday, June i, 1871. al
~ 90 o'clock IN the forenoon. for the pui..
pose OF electing directors and for the trans
action Of such other business as may pror
erly come before the meeting Under thn
provisions OF the Delaware Statutes IN.
right TO vote Is limited to stockholders or
record on May IL, 1921.
ny r. LEE MILLER
Secretary and Treasurer
The New York herald., 1921-05-17
Foreign Governments Down.

A sharp dip In foreign governments.
due 10 unsatisfactory political conditions
In Europe. featured yesterdays bond
market Most important issues showed
substantial recessions from last weeks
high prices. Mexicans also were easier.
Rails were heavy. many issues declining
large fractions. Industrials were ir-
regular In a narrow range.
The New York herald., 1921-05-17
ASKS PULPw0oD EMBARGO.
Export Tax Also Proposed In Ca.
madam Parliament.

OTTAWA, May 1s.--Proposals for
either an embargo or heavy export tar
on pulpuood we're made in the House OF
Commons to-day by T. w. Caldwell, an
agrarian member from New Brunswick.
The policy of the United States in dis
eliminating against Canadian farm
products will cause the people OF Canada
TO advocate this course Mr.. Caldwell
said
Tho United States depends upon
Canada for her main source OF pulp
wood he added
The New York herald., 1921-05-17

ssi7s5o. or si.77 share on it's common
stock.
The manufacturing profits and royal
ties OF the company for the quarter
were s6f9,f2 and its other income s2si..
~. It's expenses. interest charges. &c,
took 1850 $50 and Federal tnXes Ss5, 900
leaving final surplus available for
dividends Of f5o3, 1ss
The New York herald., 1921-05-17
Northwestern Equipment Prices.

White, Weld & Co. announced yes
terday the prices at which they were
offering the s5.43s.o0o OF equipment trust
6L per cent. certificates of the Chicago
and Northwestern Railway Company
Their prices are as follows. Certificates
maturing in 1925 to 1925, inclusive. $50
per cent. basis in 1927 to 1929, inclu-
sive, s.45 per cent. basis in 1890 to
1912, inclusive, $40 per cent. basis. and
in 1899 to 1895. inclusive, s.35 per cent
basis
The New York herald., 1921-05-17
DIVIDENDS AND INTEREST.
UNITED RETAIL STORES
CORrORATION.

COMMON STOCK DIVIDEND NO. 4.
Ths Board OF Directors OF this Company
has this day declared regular quarterly
dividend Of $3.50 per share on all the out
standing common shares OF the stock Of this
Corporation Of all classes, payable July .et.
fncf, 20 stockholders ~ record as OF the
close OF business June 18th. 1921. The stock
books VIII not he closed.
GEORGE wATrLEY, Treasurer.
Dated May 18Th, 1921.
The New York herald., 1921-05-17
woPE TELEPHONE STOCK.

MONTREAL, May l6.-Thc Bell Tele-
phone Company OF Canada announced
to-day issuance OF s5.T25.ooo in new
stock to be offered shareholders at pa
in the proportion Of new share 70,
four shares OF record on May 81
The New York herald., 1921-05-17
Quebec Loan Authorized.

The Provincial Treasurer OF Quebec
has been authorized by the Provincial
Executive Council TO contract a loan for
SIS. 900. 900. The issue will be for fifteen
years and the bonds will bear 80 per
cent. interest.
The New York herald., 1921-05-17
OWENS BOTTLE SURPLUS OFF.
Reports To Cents share Earned
In First 1921 auarter.

For the first quarter OF 1901 the Owens
Bottle Company reports a surplus. after
charges and taxes. OF 500. .lsN. or ~
cents n share earned on ts 81 par
value common stock after deduction
OF preferred dividends. In the corre-
spending 1920 quarter its surplus was
The New York herald., 1921-05-17
Erie County Get. No Bids.

No bids were received to-day by the
Comptroller OF Eric county. Pa. for the
$4,000 ~ per cent. semi-onnual nine
teen and one-half year average road
bonds.
The New York herald., 1921-05-17
Average Bond Prices
May 16, 1921.
BOND NEWS AND NOTES.
American Power Onering.

An Issue Of sa.5oo.ooo Of the Amer.
lean Power and Light Company's twenty
year per cent. secured gold bonds
dated May 2. 1921, and due on May l.
1S41. was offered yesterday by a syn
dicate composed of Bonbright Co.
Inc. the Illinois Trust and Savings
Bank OF Chicago and W. C. Langley a
Co. Tho bonds were offered at s8h
per cent. and accrued interest to yield
SIS per cent. The proceeds from the
sale Of the bonds will be used for re-
funding $2.200.0o0. principal amount.
Of the conpany's ten year per cent.
gold notes, due on August 1, 1921. and
for other corporate purposes. The issue
is secured by a trust indenture, under
which the company will pledge with the
trustee. as collateral, $7.000.o00. or zoo
per cent, in general mortgage per
cent bonds of subsidiary companies,
dated May 2, 1921. and due on May l.,
1s41. 1t is understood that at the close
OF yesterdays business the bonds had
been all sold practically and that their
subscription books will be closed soon.
The New York herald., 1921-05-17
shsw,n,ann F.u. Is.u, sold.

An issue OF st3s,400 OF Shawinigan
Falls 5h per cent. five year bonds has
been sold TO A. r.. An1cs a Co. of
Montreal at e5.9is, the money costing
the municipality 6.4 per cent.
The New York herald., 1921-05-17
state and City financing Heavy.

In addition to New York State flnan-
cling OF 41,s00.000. bids have been
asked for by States and cities in the
Union covering more than $4,000. 900 Of
new securities. Michigan will offer for
sale on June 10. s30,000,000 OF thirty
year 8 u per cent soldiers bonus bonds.
One day later New Jersey will offer
$l7,00o, 600 OF soldiers bonus and bridge
and tunnel per cent. bonds. Other
fairly large issues are: Lima, Ohio.
81. .00o, 900 of miscellaneous bonds Los
Angeles county. Cal. Sl.5oo,oo0 OF nine
teen and three-quarter year average city
school district 5 Vi per cent. bonds and
$500, 900 of twenty-one and three-eighths
year average "a per cent bonds; Rich
land county, S. c., $2.00o.0oo of s..
5h and per cent. one to twenty-five
year serial highway Improvement bonds
and s2.5oo.ooo of Cleveland. Ohio. 6h
per cent. bonds.
The New York herald., 1921-05-17

per cent OF the s1,Oo0.0o0 Ruberoid
Company's first mortgage fifteen year
8 per cent sinking fund gold bonds.
dated May 1, 1921, and due on May !,
1895, have been sold
The New York herald., 1921-05-17
METALS.

ON the New York Metal Exchange
yesterday tin was easy and straits was
quoted at s32.25433. straits shipments
at ssf.506 3e'75. standard at s32 a 80
and 80 per cent. at f3Od32.
The New York herald., 1921-05-17

John Nickerson. Jr. has prepared
pamphlet analyzing sixteen public utility
preferred stocks.
The New York herald., 1921-05-17
Ruberoid Issue Going well.

The Central Trust Company OF Illinois
and Hambleton q Co. announce that rs
The New York herald., 1921-05-17
pENNsYLvANIA OIL MARKET.

on CRY, Pa May is,--Crcdit bal.
ancc. $3.50. Runs G7,f41, average
bs.o3s. Shipments 5<,70s, average
47,40s
The New York herald., 1921-05-17

manager OF the uptown office. b1s Fifth
avenue, of NJ. y, Hoey o., members OF
tho New York Stock Exchange.
The New York herald., 1921-05-17
FINANCIAL NOTES.

The tenth annual convention OF the Invest
nent Bankers Association OF America will
convene In New Orleans on october al. Mo-
venber I and q The ST. Charles Hotel has
been selected as It's official headquarters.
The New York herald., 1921-05-17

Oscar Peterson, for many years with the
foreign exchange department of II. s.
smi,her- 4 Co. and Jerome Herskovitx Of
Albert Herskovitz a Son have formed a
pa rtnsrship as foreign exchange brokers
under the name Of Peterson 4 Co., with
offices In % Pine street.
The New York herald., 1921-05-17

Norbert Rorsnband has moved to 4o vii
lam street
The New York herald., 1921-05-17
STATE OF NEW YORK
S Per Cent
Serial Gold Bonds
EXEMPT FROM TAXATION
AMOUNTING TO
$41,8O0, 100000
Will be sold Thursday, June 8, 1921,
sold Thursday, June
at IL o'clock noon
/CA-I>l T:N

At the State COmptrollers Office, Albany, N. Y.
These bonds Legal Investments for Trust Funds.
form denominations $o0O0o $5ooo0o 100000 and
$50 Al follows:
Highways
mature oO 900 90 annually March each the 1922
the Acquisition
be dated March 1921 annually
each Of the from 1922 to 1871. both inclusive
for the Construction Of Barge Canal Terminals dated
Of the from 1922 1871, both inclusive
from 1922 to 1916 both inclusive.
Improvement Highways
Barge Canal Terminals and e Acquisition Lands the State Forest Pes
$5000000 rh mil be deemed include
o each
As the be World
include
No bid will be accepted for matures therefore bidders will
provided
bid which will
bonds mulpes specified
above for each
the Acquisition
Forest Preserve fifty the Comptroller will
alo bidder
wthstandng the specific be stated in the bid
No bids will less than the
by deposit certified check bank draft
Albany payabs
Comptroller the State
the par Of the bonds bid for
All proposals. together with the
bonds enclosed
Comptroller the State Of New York. Albany, N Y"
All bids will include accrued interest.
The Comptroller the right all bids which
Circulars descriptive Of these bonds and
funds will be mailed application to
JAMES A. WENDELL, State Comptroller Albany, N
Albany, N. Y. May l6 1921.
The New York herald., 1921-05-17

pr. Guy wendell Burns has been made
The New York herald., 1921-05-17

The United states Mortgage and Trust
Comapny has been appoint, transfer agent
Of the AFRO Mix Company's capital stock.
The New York herald., 1921-05-17
BONDS IN STOCK EXCHANGE
MAY

MONDAY. MAY is. 1921
The New York herald., 1921-05-17

Days sales
Year 10 date
The labor world. [volume] (Duluth, Minn.) 1896-current, 1921-08-13
GOLD STANDARD woBBLY!"

The gold standard Is a basis for
money is wobbly. It no longer pos
sesses the stability claimed for it by its
champions Of 1896. The war with its
tremendous cost has brought about =
change, as it has done with many other
established systems.
It all comes about from the fact that
so per cent Of the gold in circulation
is owned by the United States. 1t is
the biggest pile Of gold the world has
ever seen, or that has ever been in the
possession of single country. It rep
resents one-third of the actual gold 10
the world. 1t totals over 100000, 900.
It would completely fill 1000 trucks of
five tons capacity and there would be a
fortune left over.
If spread along paving surface half
an inch thick it would effect golden
automobile highway 20 feet wide and
over four miles long. If piled in one
room it would require more than 10000
cubic feet of space. It is distributed
throughout the country, but one-third
Of it is under heavy guard at one point,
constituting the greatest single pile Of
gold in the world.
Great Britain and Japan are the only
other powers that have gold. Nume1-
Gus little nations in Europe have no
gold and no interest in gold.
The gold standard was supposed to
be as fixed as the Solar system and
patriots have fit, bled and died. in
political campaigns to sustain it. Now
they are told that this standard is a
fiction and tho nations which have no
gold realize that gold standard would
increase their burdens by making it
needful to acquire supply Of the
metal at present prices in terms of
! their individual currencies. This would
be good business for those that have
gold to sell.
The United States, the British empire
and Japan may have trade interest
i'll the resumption Of specie payments,
but most of the other nations have a
trade interests opposed to such resump-
ton.
Dr. R. Estcourt, writing in the An
nalist, New York financial paper, de-
clares that:
cit is daily becoming more obvious
that return to the gold basis is quite
impossible with the persent political
map Of Europe. Either that must be
changed or the gold standard must be
superseded. The gold standard to
which We have been accustomed is a
fiction. The standard as generally un,
derstood has long since Disappeared
but gold remains the measure Of value.
That measure, however, will have to
be abandoned in favor Of some com.
modify that is present in all countries
if we are to recognize the existing DO.
litical divisions of Europe. Without
extensive federation a. gold basis is i'm.
| possible outside a few countries DOS
sessing gold.''
The labor world. [volume] (Duluth, Minn.) 1896-current, 1921-08-13
GRANDFATHER ON COAL
TRUST.

Here is what Joseph s. Frelinghuy-
sen, a standpat'' senator from the
state of New Jersey, said recently on
the floor Of the senate about the coal
trust:
"Whatever happens to a coal bill
now, there is no doubt of what is
going to happen to the coal operators
in this country if we are compelled to
60 through another winter like the last
one. If there are any lobbyists in
the gallery I will say to them that in
my judgment they represent as choice
a bunch Of robbers as we have had on
earth since the days Of Captain Kidd,
"The American people are not 20.
ing to stand for some Of the things
that have been going on in the coal
business. They are not going to stand
for seven OF eight corporations in tho
state of Pennsylvania controlling al
The labor world. [volume] (Duluth, Minn.) 1896-current, 1921-08-13
fJ0KER'' GIVES TRUST
MILLIONS.

A little "joker'' in the Fordney
tariff bill which passed the house Of
representatives the other day will take
$l9,o00,000 out of the public treasury
and place it in the Golfers Of the sugar
trust.
Like most ''jokers'' it is an inno-
cent looking thing until its meaning
is made clear.
The F'ordney bill places a duty of
1'6 cents a pound on sugar imported
from Cuba. The "joker' provides that
refners may import two pounds at the
rate of IL cents per pound for every
pound Of American grown sugar they
refine.
The trust refnes practically all
American-grown sugar and it viii!
therefore be the only beneficiary of
the rebate which, according to ex-
perts, will amount to the sum indi
Gated.
The sugar interests were permitted
to write the sugar provisions Of the
Fordney bill and the members Of the
house were not given an opportunity
to either debate or amend them.
Naturally the trust decided to get q
plenty while the getting was good.
The labor world. [volume] (Duluth, Minn.) 1896-current, 1921-08-13

in connection with the publication of =
series of full page announcements to
be published in the (Name Of Paper)
on the subject of Wage Reductions. ."
Like the fool in the proverb, the
.open shop wage cutting employer and
his money are easily parted when he in
approached to support t*educational
campaigns against the workers. If
ons-half the money now being squan~
dered to support professional 'open'
publicity campaigns against labor was
shoppers anti-union associations and
used to cultivate the friendship and
good will Of the workers by paying it
in wages to employees there would be
no labor problem in America worth
worrying about.
The labor world. [volume] (Duluth, Minn.) 1896-current, 1921-08-13

metal trades are causing loss in the
neighborhood Of billion year. The
main causes Of waste, in the opinion Of
the engineers, are faulty management
and failure to find a working basis for
dealing with labor. But hardly. less
important are limitations on output re-
sulting from market conditions and the
refusal to reduce prices to where they
would become attractive.
"'It is evident the report reads,
that management Of labor must b.
elevated to a higher plane. Because
labor is the major factor in most if not
all industries, it should be led by rec
ognized intelligence rather than by
radical agitators on the one hand or by
stupid reactionaries OH the other
"Here, undoubtedly, the engineers
have put their finger on the cause Of
greatest loss and greatest friction.
There has been in such organizations
as the steel corporation determined
effort to control labor without under
standing it: The policy has divided the
men between the need of their jobs and
the love Of their freedom
''In good times, when credit is easy
and everybody buys, any industry
looks efficient. In hard times we dis
cover that the efficiency of manufac-
.turers is more a matter of bluff than
of brains''
The labor world. [volume] (Duluth, Minn.) 1896-current, 1921-08-13

the anthracite Of the United States
and fixing the prices to suit their own
sweet will.
"Senators may talk until they are
pale in the face, they may talk about
bolshevism and socialism and under
mining tho Constitution, and all this
kind Of thing, but the amount Of hard
coal that the Lord Almighty has put
into the earth up in Pennsylvania and
now controlled by a few corporations
is eventually going to be regulated for
the benefit Of the people Of the United
States. There will be some day no
senate that can stop it.
"Speaking of bolshevism, it is my
view that the coal operators have had
as much as anything else to do with
! making bolshevists in the country. The
senator from New York (Mr. Gallery
stated, I think on the floor Of the
senate, that the coal operators Of the
country had robbed the American PEG.
pie of billion and half dollars.
"That was startling statement
coming from standpat senator from
the state Of New York. If some Of
the unreliable, unsafe, and dangerous
senators from the middle west or the
west had said such a thing, it would
not have been startling; but that
startled the coal operators to the ex.
! tent that one of them came out with
an indignant denial, and said they had
not robbed the American people Of a
| billion and a half dollars; that it was
only $5o0O0o,000."
The legislation proposed by Freling-
huysen was extremely mild. It called
for publicity concerning the cost of
production and the selling price OF
coal and authorized reduced railroad
rates to encourage coal shipments dur
ing the summer months.
At one time the coal barons indi.
Gated their approval Of this pregnant
When they discovered that their lob
byists had the ear Of congress they
came out against any regulatory legis.
lation and declared that an attempt
to interfere with their graft would be
tantamount to establishing a "soviet"
in this country.
And they have gotten away with it
up to date!
The labor world. [volume] (Duluth, Minn.) 1896-current, 1921-08-13
IT'S BLUFF. NOT BRAINS.

The alleged efficiency of 'industrial
captains is more matter Of bluff
than brains, says the New York World,
which cruelty dispels one of the coun-
try's cherished fables.
The tradition Of American indus.
trial efficiency staggers every other
day or so under some UNEXPECTED
blow,'' says>this paper.
just at present the committee of
the American engineering council or
elimination Of waste in industry reports
that idle men and machinery in. the
The labor world. [volume] (Duluth, Minn.) 1896-current, 1921-08-13
REsISTS CoOLIE INVASION,

While alleged friends and frank OPP
ponents Of organized labor bemoan that
trade unionists are only interested in
hours and wages,' these workers strug.
gle on for American ideals, with their
critics silent in times Of great test.
Labor's present fight against the i'm
portation Of Chinese coolies to Hawaii.
thereby destroying the principle Of
Chinese exclusion, interests no critic Of
organized workers.
Under the banner of the A. F. of L..
organized labor in the United States
and Hawaii are alone fighting this pro-
posal. Hawaiian trade unionists have
commissioned two Of their representa-
tives to come to Washington, distance
of 10000 miles, to expose the claims of
sugar planters and their mercenaries
These unionists are now in the nations
capital, working under the direction Of
President Gompers.
Every affiliate Of the A. T. # L.,
especially in the Pacific az" tcr-
mountain states, has Seen N;r;>'I Of
this menace, and protests are pouring
into the halls of congress.
If the public are acquainted with this
proposal, what it means to our country,
and the single-handed fight labor is
making, the DIRECTORS would storm the
capitol. But the resolution is given the
"silent treatment' by forces that hope
they may win by stealth and intensity
the Oriental question, now so acute in
the far west.
The proposal is the most brazen yet
suggested by reaction, drunk with war
profits and flushed with political
victory. It shows to what lengths plu-
trocracy would 60 but for an alert and
aggressive trade union movement.
The oozy, sentimental, so-called
"iberal,' the muddled doctrinaire, the
popularizer with his rose-water the.
cries, the writer Of giddy labor pro.
\ SAe'hAS3 tAC uCAuuCldtOI CraQ6 union
ism-all are silent as big business at.
tempts to insert in the Chinese exclu-
sion act the thin edge Of wedge that
would permit hordes Of coolies to
sweep, like locusts, across the Pacific
and mountain states.
Every right-thinking citizen should
join with labor in this fight. Every
senator and congressman should hear
from "back home" in language that is
really understood.
Let the country accept this challenge
to chinafy America.
Don't trust reaction, it's newspaper.
or political agents who would sneak
this legislation through congress IN
der the plea that there is "Iabor So
ciety' in Hawaii.
Forty years ago labor insisted: tThc
Chinese must go.'
Today let Washington hear the coun.
try-wide roar: "The Chinese must not
COME
The labor world. [volume] (Duluth, Minn.) 1896-current, 1921-08-13
MEXICO TO Give
CONTRACTS ONLY
TO FAIR FIRMS
Machinery Order Placed Through
Union Labor as Result Of
Deal With 0bregon.
Continued from Pane I.

that Mr.. Johnston supply the names
Of firms that are fair to organized
labor.