davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-12-07
OREGON SHORT LINE
ISSUE Is OFFERED
Bankers to Sell S16,424,000 Of
Bonds To-day at Price to
Yield About 5.41 p. G.

The oregon Short Line Railroad Com
pany has sold TO Kuhn. Loeb & Co.
SIG. i24 900 OF its consolidated first mort
gage per cent. guaranteed gold bonds,
due on July l, 1916. subject to the ap-
proval OF the Interstate Commerce
Commission, and those bankers VIII. Of
fer them to-day at 941s and interest TO
yield about 5.41 per cent. The purpose
of the sale of the bonds. which are
guaranteed Internationally as to princi-
pal and interest by the Union Pacific
Railroad Company, is to provide funds
to retire sl4.9S1.oOo of the oregon Short
Lines first mortgage 6 per cent. bonds
due on February l. 1929.
r. S. Lovett. chairman of the lines
executive committee. in letter to the
bankers. said. in part: 1.-THE net income
from all sources of the Union Pacific
system for the year ended on December
81. 1920. was $50, ,674.231 over and above
all charges. For ten months ended
October 81. 1921, the net income from all
sources was s24,S7s,519 over and above
all charges"
The New York herald., 1921-12-07
Cleveland Electric First Is.

The Improvement in the Cleveland
Electric Illuminating Companys earn
ings. despite competition from a munic-
ipal plant during tire last year, draws
attention to the conpany's bonds. The
cornpany's first 5s of 1899 are selling
around 90 to Yield about s " per cent.
In the year ended on September 80 1t
had gross turnover Of s13,264,S2S, con-
trasted with s11.9S2,361 in the ereced-
ing year. while its net income was more
than s1,250,000 greater. The company
serves a population OF more than 1.000,-
900 and supplies electric light and power
to the city OF Cleveland and adjoining
towns, covering an area of 300 square
miles. This issue is secured by first
mortgage on its pants In Cleveland
The property account in fits balance
sheet as OF December 81, 1920, was given
as more than s37.000,00o. More than
75 per cent of the company's stock is
owned by the Central States Electric
Corporation. These bonds are redeem
able at 107b. They have sold as high
as 102M and as low as 75.
The New York herald., 1921-12-07
Steel and Tube rs.

Another industrial investment to be
found among bonds issued this year
is the Steel and Tube Company of
Americas series c. due In 1851. They
offer a comparatively high yield on their
present price, more than 7.20 per cent.
They were offered in the amount of
100000 900 in January at 9514 and sub
sequehtly fell to 91M. Their present
price is around SO. They are secured by
a general mortgage on the company's
physical property row owned or to be
acquired. They are secured also by a
lien on the stocks of its subsidiary COM
panies owned and also on leases on iron
ore properties The company's steel plant
is at Indiana Harbor. Ind, on site OF
$50 acres, with a frontage on Lake
Michigan and a Government ship canal
and with direct connection with the New
York Central. Pennsylvania and Balti-
more and Ohio systems. The total issue
of bonds authorized under the mortgage
was S50,000,O00. There are outstanding
5000, 900 of 6s. series B. and $4,000, 900
of Is, series G bonds The S5,000,000 of
series A is pledged 10 secure short term
notes and s29,000,000 is reserved for
extensions. Additional general mortgage
bonds are issuable for refunding under
lying obligations and at par for 7b
per cent. Of the cost OF additions and I'M
provements when available net earnings
for twelve consecutive months shall be
equivalent to at least three times the
annual interest on all the company's
funded debt. The series bonds are re-
deemable on any of their interest dates
at 107M. A sinking fund OF 1-3 per
cent. OF bonds outstanding will COM
mence to retire series c bonds in 1928.
The New York herald., 1921-12-07
Average Bond Prices
December O, 1891,
BOND NEWS AND NOTES.
National Acme Financing.

The National Acme Company has sold
to syndicate hsaded by Blair & Co,
Inc. and the Cleveland Trust Company
a new issue of S5.0oOoOo of its first mort
gage ten year ~ per cent. sinking fund
gold bonds, due on December l. 1881,
and the syndicate offers the bonds at
9Sh to yield 7s4 per cent The company
Is the largest of its kind in the world.
Its chief business consisting in produc-
ing automatic machines. The bonds
will be a closed mortgage on the entire
property and subject to redemption al
1Oo up to December 1. 1926. at 104 for the
next two years, at 10S for the next two
and thereafter at 102 They will have
the benefit of sinking fund sufficient
to retire s3S0,000 of them annually by
purchase or redemption at not exceed
ing their redemption price.
The New York herald., 1921-12-07
LouisvilIe ana JeffersonviIIc

A long term investment. yielding about
$40 per cent. can be had in the Louis
willie and JeffersonviIle Bridge and Rail-
road Company's first As, due In 1945
now selling at 7S. They are secured
by first mortgage on the railroad and
bridge across the Ohio River between
Jeffersonville, Ind, and Louisville, with
approaches and about sixty acres OF
land in Jeffersonvile and forty in Louis
Vile. The bonds are guaranteed jointly
and severally as to their principal and
interest by the Cleveland. Cincinnati
Chicago and st. Louis and the Chesa-
peake and Ohio Railway Company BY
Endorsement. OF the s1,425,o0 of capt.
tai stock OF the bridge company the
Big Four owns s950.000 and the Chesa-
pcake and Ohio s475,000. The bonds
are listed on the New York Stock Ex-
change. They have sold as high a.
1904.
The New York herald., 1921-12-07
Federal Financing Planned.

New plans for Government financing
are being drafted by the United States
Treasury Department. II was learned
yesterday. and additional blocks of GER
tificates of Indebtedness may be expected
early next year 1t was reported on
reliable authority In Wall Street that the
new certificates would be offered on a 4
per cent. basis. The last offering of cer-
tihcates was made on a AZ to AZ per
cent. basis. The report OF a new offering
of certificates at the low rate of per
cent. caused considerable comment in
banking circles but il was generally con-
ceded that the financing could be done
successfully. particularly If the predicted
further cut in the rediscount rate by the
reserve banks should be made in the
meantime.
The New York herald., 1921-12-07
Pennsylvania Marked Tn.

Having sold all but about s.. 10000 Of
the recent offering of 81, O,O00 of the
Commonwealth of Pennsylvania series
D Az per cent. registered or coupon
bonds on basis to yield more than
40 per cent, the syndicate. headed by
the First National Bank. has marked
their price up so as to reduce their
yield basis to flat per cent. The
issue is the last of total authorize
tion of s5o.000, 600. all issued for highway
Improvement, and which Is the Com
monwealth's only outstanding debt and
is less than enc per cent. of its valua-
ton. The Commonwealth cannot issue
additional bonds. except by Constitu-
tional amendment, the adoption OF
which would require several years.
The New York herald., 1921-12-07
Offers s2.6OO,oOO CALIFORNIA;.

The First National Bank Of New York,
Eldredge e Co, Stacy & Braun Kissel,
Kinnicutt & Co.. kountze Bros, Blodget
& Co. and Remick. Hodges & Co. are Of
fering s2,600,000 of the State of Cali
fornia's and AZ per cent. bold bonds
The bonds are $500, 900 of per cent.
State building bonds of 1865 offered at
92& and interest to yield as per cent
100000 OF 4 per cent. harbor improve.
ment bonds OF 1889, optional in 1854. at
81 y and interest to yield Az per cent,
and s1.000O00 Of Az per cent. highway
bonds of 1867 to 1862, inclusive, at prices
to yield 40 per cent.
The New York herald., 1921-12-07
Irish Free State Mny Borrow Here.

Bankers in New York already are
thinking about the possibility of the
new Irish Free States borrowing in
this market, although. of course, no
action will be taken until the formal
tiles of it's organization are completed.
1t is conceded that funds will be needed
until the methods of producing rev.
enue have had an opportunity to get
in action, and 1t is thought that the
State may borrow here rather than
in London. There is a possibility, also,
that Irish Republic bonds sold in the
United States to the extent of about
$780, 600 will be taken in with the as
sumed obligations of the Irish Free
State.
The New York herald., 1921-12-07
Penn Public Service Offering.

Harris. Forbes & Co. and Il. II. Roll
Inns & Sons are offering S750,000 of the
Penn Public Service Corporations first
and refundlng 6 per cent. ten year gold
bonds. series a, due on December l.,
1899. at 96 and interest, to yield about
$40 per cent. They are free OF the
present Pennsylvania mill tax and the
company agrees to pay interest without
deduction for any normal Federal in
come tax TO an amount not exceeding 2
per cent.
The New York herald., 1921-12-07
Louisville Flotatfon.

r. NJ. Grant G. Co. are offering a new
issue OF 100000 Of the city of Louis
ville's thirty-elght year 4 per cent. sewer
gold bonds at 101Ts and interest. to
yield about 4.i0 per cent. They are due
on February /, 1860. and their semi
annual interest is payable on February
] and October 1.
The New York herald., 1921-12-07

NY Cen 4lss
.S5lA
" Y Cen deb Is
S4l2
n Y Cen con ~
e.......7Sl2
N Y Cen 3Ls
2.......74la
NY CenLS SIS
1.......71
n NYC&StIdbAs S
10. .S2ll
N W EAl at/,InlI
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
Whitewater Local News.

Whitewater, Aug. Special: The
farmers have finished laying by corn.
Crops are looking fine and are being
visited by frequent showers.
Mrs. Dora e. latham and Miss Mae
Corbin, who have been visiting their
parents, Mr. and Mrs. w. e. Corbin,
will return to their home in Atlanta
tomorrow.
Master J. B. Coward, Of Picket
Post, is spending some time with
his grandparents, Mr.. and Mrs. b. T..
Coward.
Major VIM. j. Stribling and fam
lily, OF Walhalla, are spending some
time at their Whitewater summer
home.
NJ. ". and NJ. w. Breedlove, of
Glenville, N. c., were recent visitors
at the home Of their parents, Mr..
and Mrs. J. N. Breedlove.
Misses Annie and jamie Nicholson
are spending the summer with Mrs
A. p. Crisp at Sapphire, n. C.
The school at this place is getting
along nicely with Miss Lillian Bis
chOff, of Walhalla, as teacher.
The many friends Of Mrs. J y
Brecdlove will be glad to learn tina,
she is improving, having been a suf.
fercr from inflammatory rheumatism,
for some time.
Misses Lillian Bischoff and Grace
Crenshaw, Of Walhalla, were recent
gu csts Of Miss Dora Breedlove.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
Candy to Come Lower.

New York, July 8 IA cut Of ap-
proximately 80 per cent in the price
of all candy, from gum drops to bon
bons, was announced to-day by a
chain candy store company, follow
ing n general agitation against the
high prices Of ice cream, cold drinks
and confectionery.
Benjamin Miller, one Of the COM
pany officials. made public memo
randa, which he said has been sent
to the National ConfectiOners' Asso-
citation. II says: at is time we were
getting down to reason in this mat
ter. We have been making not loo'
but 800 per cent profit for long
time. This kind Of business, If kept
up, would create a panic.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
A CAMPAIGN FOR GOOD ROADS.
Organization WiH Take Advantage OF
Every Known Publicity Method<

Columbia, Aug. Ian intensive
publicity campaign for good roads IS
being planned by the South Carolina
Good Roads Association for the near
future. The organization will take
4 advantage of every method known to
stress upon the people OF, the State
] the necessity of permanent high%ays
te Sat ssiifd
at a meeting Saturday last.
The newspapers, the bill-boards,
the moving pictures and other agen-
cies will be used in the campaign.
Already posters are being printed
emphasizing the fact that bad roads
cost more than good roads"
bad roads mean loss and isola-
ton; good roads mean prosperity and
communication" reads one of the
slogans being gotten out by the asso-
citation. Another circular calls atten-
ton TO the fact that. while other
States Of the Union are spending
enormous sums on State highways,
South Carolina is spending practi-
cally nothing by comparison.
1--WE are delighted with the re-
sponses that our appeals are meet
ing with" said President l.. d. .Jen-
nings. "The people Of the State are
sending in their membership fees
right along. A big membership in
our organization means a strong Or
ganization, and every county in the
State should have a large number of
active members. We want as men,
bers people who are really interested
in good roads and who will get out
and work when we call upon them"
President Jennings announced to-
day that B. II. Peace, president and
editor Of the Gre"nville News, had
accepted the posillon Of chairman for
Greenville county and will at once
undertake the work Of organizing
that county. Mr.. Peace is a good
roads enthusiast and has given the
association strong support through
the columns OF his paper.
eve are very greatly indebted to
the press Of the state for the splen-
did support which it is giving us,
said Mr.. Jennings. 1--WE felt sure we
would have the support Of the news
papers. since they always stand for
progressive measures. without their
aid we could accomplish nothing in
this campaign.'
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
LIGHTNING HITS A LAUNCH.
One Killed and Two Seriously Hurt
on Coast Of Florida.

Perry, Fla, July 31.-One man
was Killed, two seriously injured and
several others narrowly escaped
dfowning when lightning struck a
launch with a&fishing party aboard
during severe electrical storm off
the Gulf coast late yesterday, It. be-
gaal keaY Sghsa smlyeglml,ers the
Nick Klimnes, Of Tarpon Springs,
pilot Of the launch, was killed in
stantly. J. w. Grantham, Of Villa
coochee, Ga, and Waldo Henderson,
Of Ocilla, Ga, received severe burns.
Two other men received less seriosu
injuries.
Grantham and Henderson were
brought to this place for medical at
tention and it is planned to take
them to a hospital at Valdosta, Ga.
as soon as they are able to make the
trip
The accident occurred twenty miles
off Keyton Beach, near here. The
bolt ripped a large hole in the bow of
the launch, but did not damage the
engine. Three uninjured members of
the party manned the pumps and
kept the vessel anoat until within
seven miles of shore, when the party
were taken off in small skiffs.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
FHREE-CENT LETTER POST
Probably Become Effective-It
AGs Favored by President.

SS{!5& {!5 Ss Shipgton, Aug. 1.-The extrem-
Y XIV shtch Congress is forced in its
seakSEhQr new sources of revenue
iy baassted ifby.sf the sproposal, sane
tionsAgsbS President Harding, that
letter. postage pc increased from two
csntg Stos three cents, the proceeds
FROM a}ha tircrease to be turned into
the. SgggSs.ir$ Sas general revenue.
sslows eems certain that this let
teEs SSlSs&tll be Included in the new
reYafn6sbill. Y Between $4,000 900
ands 1850 10000 annually would be
,reise9 9gg this letter tax, with practi-
cally additional expense for col
|, WfMls the president has indicated
that 4s;favors the higher letter post
ge,aSlanSequitable means Of helping
to PsNHent deficit in the postoflicc
depalFtnelit, due to increasing losses
in$paHpel post business, the postofllce
'depaMment disclaims responsibility
fors rsoEStnterest in the proposed in
crsasS
s:SThA Ayextent to which postal reve-
n,lak have been shrinking is indicated
;bY5ilgbprts from :he fifty largest cit
tessk6ESthe month Of June. Chicago's
postaf $reyenue for June was $685.
000fbHhind. June, 1920. Philadelphia
sh0MaAa shrinkage Of $4,000 ana
ClegeIShd fs70,oOo," Brooklyn SILL
o.0QSa5M Pittsburg $41, 900, Buffalo
s32sgRQ Akron l35, 900 and st. Paul
$39sgM. New York city in June
sh0%s6 an increase. but the gain
thase 3Sas more" than offset by losses
elsSNhbSre.% Y
MiHunderstood that postal def
cit Nose ,to, %s4o,000,00O will be re-
ported por foIp!S he present fiscal year
The fafor the fiscal lSYearr 10 20,
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
Landslide lsurics Children at Play.

Easton, Nd, July 31.-Three chill
dren we're killed and one was so
seriously injured that she will die,
when a sand bank under which they
were playing late this afternoon
caved in, burying them. The dead are
Annie Belle Collision, aged T; Ernest
Covey, aged 12, and Susie Covey, s
years old. The injured child, Lena
Covey, is years old.
When the children failed TO return
home for supper Mr.. Collision began
to search. Nearing the sand bank
he heard the means Of Lena, and af-
ter calling for help, he dug her out
in an unconscious condition. Mr.. Co.
vey AMI other citizens Joined. and the
bodies Of the other children were
soon recovered.
All the children except Lena Covey
had been smOthered under the sand,
according to medical examination
No bones were found broken in any
Of the bodies.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
Urges Fall Road Contracts.

Washington, July 23.-Goyernors
Of The various States have been urged
by Secretary Hoover to let their con-
tracts for road construction in the
fall rather than in the spring, as a
means of relieving the he'unemployment
situation.
Mr.. Hoover said to-day that hos
had sent letters to the Governors sug-
gesting this step, as the letting Of
contracts in the fall would necessi-
tate The employment of men during
the winter months to handle the sup
plies and road building materials.
This procedure was already in effect
in some States, he said, by COM
mittee Of engineers who investigated
its adoption.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
.sAseTo ROAD DUTY LISTS.

To the mon in each school district;
tsssa sssl|ss 'l asR8| ass|18| sgIsa
unable t9Isecure all the lists in time
to maE payment for the work on
The fpt Friday in August, and as we
are compelled to depend OIL those
lines FOR this purpose, will necessar-
lily have to wait until the first Fri
day in September.
VIII ask all those still holding
those lists to please do the work and
return same at earliest convenience
in order to finish up the business.
Thanking you all for your help and
cooperation, am, Yours truly,
J. c. Shockley, Supervisor.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
MISSING LINK CONTRACT is Llay.
The Bridge and Road Work Totals
in Cost $I5, ,OOO-t50 Days.

The contract for the building of
the Walhalla Mountain Rest road
was let last Thursday, July 2Sth, the
successful bidders for the work being
fluffstctler & CHM, Of Gastonia, y.
c., who were AWARDED the actual road
work at $50, ,iS2.j0. The bridge WORK
was awarded to c. c. Jordan, of An
derson, for $5,450.00. The road con-
struction and bridge work combined
totals $44,932.50.
The contract calls for the work 10
be commenced on or before Aug. Is,
and it is to be completed within $50
working days.
The fact Of the letting Of this con-
tract by the Highway Commission
will be good news to many, for the
present road has practically annulled
the road efficiency to Walhalla and
beyond Mountain Rest, there being
a gap Of bad road Of approximately
fourteen miles between the two new
roads that have been built.
This additional section Of good
road will not only, as has SO often
been charged, benefit tho mountai,
tourist travel, but it will be Of incal
culablc benefit to the farmers ant
orchard men Of the upper part OF
Oconee and to NOT a few Of thost
in sections Of Georgia and Nortl
Carolina who prefer this route ii
travelling to and from their markets
We understand that it is quite
probable that work will be begun or
this section Of road before the da.e
mentioned in the cOntract-Aug. IS
Michigan salt wells are rapidly
being developed so that the States
output is approaching the first rank
in the country.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03

A crop around S,433, 600 bales was
forecast from the condition on July
25, which was 64.7 per cent Of a nor
NAL. The condition was 74.1 per cent
on July 25 last year, GIL in 1919,
and the ten-year average for July 25
is 1874. Last years crop was 1866
754 bales, and that Of 1919 was H.
420,763 bales, in 1918 it was 12,-
04O,532, in 1917 it was II 302,375,
and in 1916 it was 1,449,930.
The government's cotton crop re-
port, indicating a condition Of only
64.7 and a yield Of S,203.00O bales,
excluding linters, was much below
expectations and caused a sharp ad-
vance on the market to-day.
October contracts were at 11.SG on
the break Of last week, and advanced
to 13 or sc above the closing price
of Saturday. January sold at 1881,
or nearly a cent pound above the
previous close.
The condition was the lowest on
record for July 25, and several points
below the government! estimates re-
Gently issued.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
Another T0lbcrt Appointce Named

Charleston, Aug. 1.-The appoint
ment Of Samuel E. IIcndry, an old
line Republican, as postmaster Of
Charleston, to succeed j. NJ. Poulnot,
who has been appointed sheriff, is re-
garded as additional evidence that
Jos. w. Tolbert, Of Greenwood coun
ty, will be the Republican referee
for this State. Hendry belongs to the
Tolbert faction. He is appointed TO
fill term that ends in few days,
but 1t Is believed that he will be re-
appointed. He Is native Of Florida,
but has resided in Charleston for up
wards of 20 years, and was for a
long time in the railway mail service.
Subscribe for Tho Courier. (Best.l
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
a. Is. & a. Train Dynnmitcd.

Fitzgerald, Ga, July 29.-Freight
Train No. 93 Of the A. b. and A. rail
road, between Brunswick and Allan
ia, was dynamited late last night at
Ambrose, IS miles from Fitzgerald.
1t is reported that the engine ana
eight ears were blown from the track
but that no one was injured. A
wrccking train left from Fitzgerald
to Ambrose to clear the track. This
Is the second A. B. and a. freight
train to be dynamited this week. The
first was at FIately, near Cordele. Tho
damage in last nights explosion is
estimated at about five thousand dol
lars.
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
Last Shipment Of Dead by Oct. 3.

Washington, Aug. 1. - Secretary
Weeks has approved orders directing
the graves registration service in
France to begin closing up its work
August 18th. No changes in lists Of
soldier dead will be made after that
date and bodies not previously desig-
mated at request Of relatives for re-
turn to the United States will be
placed permanently in the fields Of
honor abroad.
Shipment OF the last of the dead
now designated for return will bo
mado Oct. 8
Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1921-08-03
REUNION OF ORNS REGIMENT
VIII l}e Held in Wnlhalln on Monday
and Tuesday, Aug. 1910.

The 49th reupiQn Of Orr's Regi-
ment will be held in Walhalla Aug.
10Th and 10th, 1921. All veterans
are invited to meet with us. There
Will be some good speaking on the
10th, and the public is cordially. in.
vitel to come and hear them. The
entire program will be announced
laterF% w. II. McGill, Pres.
B,HF.&JOhnson, Secretary. g