davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-12-07
STERLING PRODUCTS
TO ADD TO HOLDINGS
Virtually Closes Agreement
to Purchase Charles IL.
Phillips Chemical Co.

Sterling Products, Inc. virtually has
closed an agreement for the purchase OF
the properties of the Charles III. Phil
lips Chemical Company for cash con-
sideration In the neighborhood OF
5000, 900. 1t was learned yesterday.
The acquisition OF the Phillips prop
erty will be financed through the sale
of 100000 shares of additional capital
stock Of Sterling Products to its stock
holders at a price around $50 a share.
The stock offering will be on the basis
of about one new share for each five
shares outstanding. Stockholders OF the
latter company have been called into
special meeting on December IS for the
purpose of voting the authority neces-
sary to consummate the deal.
Sterling Products. Inc, in addition to
being an operating company, owns the
entire capital stock of the following
companies which manufacture large
variety of medicines and patent rem
edies: Sterling Remedy Company Ster-
ling Products, Ltd. California Fig Syrup
Company, the Bayer Company, Inc,
the Bayer Company, Btd., and Wells
& Richardson Company. Inc.
The Phillips company has plants in
New York city. Its stock is very
closely held.
The New York herald., 1922-12-07
Average Bond Prices
Wednesday. December 8. 1929.
BOND NEWS AND NOTES.

A more or less irregular market for
bonds prevailed yesterday. with many of
the cheaper railroad securities under
pressure and foreign and United States
Government firms in undertone. Liber-
tvs were somewhat better at the finish.
The Treasury 4M were up cents near
the close. while second 4 As showed a
gain of IA cents. The tax exempt 31@s
were unchanged. The continued rise In
sterling naturally had its bullish effect
on obligations of the British Govern
ment United Kingdom Us Of 1929 got
up to about 111%. In the railroad group
st. Louis-San Francisco income 6s and
its adjustments were lower, as were st.
Paul 31as B. and various Erie issues. 1t
the traction list Hudson and Manhattan
adjustment income 5s were strong, but a
few other bonds were bit depressed
early in the day. Industrials were fairly
steady The days total turnover was
about 12,13S,000.
The New York herald., 1922-12-07
ERA OF HIGH PRICES
FOR WOOL PREDICTED
A. w. Elliott Also Discerns
More Plentiful Supply.

An era of high prices for wool and a
more plentiful supply were predicted by
Albert w. Elliott of the jeremiah Will
Jams Company in an address before
members of the American Association
Of Woolen and Worsted Manufacturers
which held its sixteenth annual meeting
yesterday at the Waldorf-Astoria Hotel
Mr.. Elliott declare that it was a great
misfortune to the world that the drop
from the peak prices of 1920 went
so far.
with the world over period of four
years and having used considerably more
wool than was produced in those four
years." he said, ''aand with every pros
pect that during the next four years the
world will require wool at a rate greater
than the present rate of production, /
feel that the price of wool as measured
by all pre-war standards will be very
high for several years to come.
This era of high prices is bound
eventually to result in a very con-
siderable increase In the production Of
wool and mutton. especially in those
countries that have comparatively low
cost of production, as Australasia and
South America"
George z. Roberts, vice-president of
the National City Bank, also spoke. his
topic being Current Events Other
speakers were William Goldman of
Cohen, Goldman & Co. Max Lachman
of Max Lachman & Son, and DR.. d. w.
Daniel of Clemson College. Will Rogers,
along with the Greenwich Village Follies
and other professional entertainers in
cluding an orchestra of thirty pieces,
provided merriment.
Albert l.. Clifford of the Worumbo
Company. who was POSTMASTER. was
nominated president of the association,
and Francis T. Maxwell Of the Hook
anum Mills Company and Alfred A.
Whitman of william Whitman & Co.
were nominated vice-presidents. Seven
directors were nominated to serve for
three years.
The New York herald., 1922-12-07
FINANCIAL NOTES.

Mcdonnell Company have issued a cir
cular describing Consolidated Gas and other
important rights.
The American Exchange National Bank
has been appointed registrar for the capital
stock Of the New York Theater. Program
Corporation.
Advices received by local bankers from
Continental Mines. Ltd, say that q gold
bearing vein 100 feet long. five feet wide
md averaging 81 in gold value 20 the ton
has been uncovered on tho Kirkland Lake
properties Of the company In recent surface
explorations.
The Columbia Trust Company will act az
trustee OF the wickwire Spencer Steel Cor
poration, 81. .77D. 900. III per cont convertible
gold notes and the Waikiki River Company.
10000. per cent. gold notes.
The Guaranty Trust Company Of New
York has been appointed transfer agent for
the preferred stock OF the Coca-Cola Com
rany.
Lieut.. J. Barthe Joseph, U. 8. A., has
become associated with II. l.. Allen a Co.
as their representative in the State Of Penn
sylvania.
This Central Union Trust Company OF New
York has been appointed transfer agent of
the Campbell Soup Company preferred stock.
BArstow & Company, are issuing their De-
ccmber investment list OF bonds.
Samuel G. Allen was elected yesterday a
director OF the Safety Chr Heating and
Lighting Company.
The Guaranty Trust Company Of New York
has been appointed trustee Of the Whitaker
Paper Company first mortgage twenty year
per cent. sinking fund gold bords.
The New York herald., 1922-12-07
OUTPUT OF PIG IRON
SHOWS A HEAVY GAIN
Composite Price of Iron and
Steel Still Declines.

Production of pig iron in November
IS placed by Iron Age at 2,S49.703 tons.
the largest since November, 1920. and
at an average rate of 94,990 day. The
Increase over October is IL per cent.
The yearly rate is placed at 35,500.O00
tons against 3s.4340oO tons in the high
record war year of 1916.
Continued activity is noted in the car
market, Iron Age reporting awards of
4,200 more cars, making the total for
the year to date more than 145.000.
with $4,000 under negotiation the
years car buying will be close to the
10000 of 1915 and greater than for
any other year since 1912" the report
continues Activity In locomotives con-
tinues marked, with new orders amount
ing to 139 and inquiries for similar
amount still outstanding.
The Iron Trade ReUiet1 says:
Activity in future buying, which is
of a breadth not present in the market
In several months, Is the outstanding
feature. Manufacturing programs for
the first three to six months appear
pitched on a large scale. Some un-
evenness I'm prices is developing. as mill
books have run down in certain lines
but there Is no weakness anywhere.
General motors. which seeks heavy
tonnage miscellaneous material, placed
a portion of this business. but larger
amount is still under negotiation. Sheet
requirements of this consumer are esti-
mated al 100000 tons annually.
"-rhe Iron Trade ReUietc's composite
price of fourteen iron and steel products
is down to s40.69. compared with s41.40
last week. and SALTS two weeks ago.
and S42.41 three weeks ago.
The New York herald., 1922-12-07
s6,OOO,OOO UTILITY
NOTES ARE ON SALE
Ohio and Northern Gas Issue
Offered at Price to Yield
z Per Cent.

An issue of short term s6.o0o,o00
guaranteed three year per cent. Sc
cured gold notes of the Ohio and North
ern Gas Company Is being offered by
Halsey Stuart & Co., Inc, at par and
interest TO yield per cent. The Ohio
and Northern Gas Company, through
subsidiary and associated companies,
distributes gas. without competition, to
about 125 communities in central Ohio.
northwestern New York and southern
Ontario, Canada.
The new notes will be secured by the
pledge of at least s9,475,000 of bonds
and notes of subsidiary and associated
companies. and in addition will be guar
anteed by the Cities Service Company.
whose outstanding stocks have pres
ent market value OF more than s14o,-
100000. The combined gross earnings
of the subsidiary companies of the Ohio
and Northern Gas Company, including
annual income from bonds TO be owned
of associated companies, for the twelve
months ended September 30 1922,
amount to s2.S4S,039.
The New York herald., 1922-12-07
BIG ARGENTINE LOAN
PLAN TO BE SUBMITTED
Congress to Be Asked to
Authorize Billion Pesos.

BuENos AIRES, Dec. (Associated
Press) PLANS for funding the Argen-
tine short term and floating debts have
been nearly completed by Minister of
Finance Herrero Vegas. according to the
newspaper La Rason, which says 1t has
learned authoritatively that the Govern
ment has decided to request the present
extraordinary session of Congress to
authorize a general loan of about one
billion pesos.
OF the total. 70o,OO0,Ooo paper pesos
would be floated Internally while an ex-
ternal loan OF 15O,000,000 gold pesos
would be accorded to the bidders offer
ing the most favorable terms.
The New York herald., 1922-12-07
THE ArcWsoN; ToPEKA .t AND R SANTA Fn

Notice Of Redemption of Equipment Gold
NSss' ssr; ef 1924 1879 i9s 1875
Of tho aggregate principal amount OF Five
million eight hundred and eighty four thou %
sand eight hundred dollars tS5,SS4, ,SOO.OOl
issued under Equipment Trust Agreement
dated january Is, 1920, between walker ~.
Hines, Director General of Railroads, Inc
Company and Guaranty Trust Company Of
New York. as Trustee.
Notice is hereby given to the holders OF
1925. 1927. 1925. 1929. 1880. 1881, 1882. 1888.
1884 and 1885. issued under Equipment Trust
Agreement dated January 10, 1870, betwesn nri
Walker ID. Hines, Director General OF Kali
roads. The Atchison. Topeka and Santa Fe
Railway Company and Guaranty Trust Com
Pany Of New York "a as san, Trsstes Rawas
Company pursuant to the terms ana p,ov..
sions Of the said Notes and of the above
mentioned Equipment Trust Agreement has
elected to pay and redeem on January is.
1923, (the next semi-annual interest date), az
the office OF Guaranty Trust Company 2i
Of Manhattan, City and State of New York.
Trustee under said Equipment Trust Agree
ment. all of said EquIpment Gold Notes
Series OF 1924, 1925, 1925. 1927. 1928. 1929,
1880. 1881. 1882. 1888. 1884 and 1885. issued
under said Equipment Trust Agreement, by
paying tho principal amount OF said Notes
and accrued interest to January 10, 1873. TO-
gether with premium OF three (s) per cent
OF the principal
Upon presentation Of said Notes, together
with the coupons maturing on said redemp-
tion date and all subsequent coupons at the
said office OF the said Trustee, for canceiia-
ton. on or after January 10. 1928, tho prin-
cipal amount OF said Notes, together with the
said accrued interest thereon TO January 10,
1923. and said premium, will be paid 70 the
persons entitled TO receive The same. under
the terms OF said Equipment Trust Agree.
msnt interest upon all OF said Notes VIII
cease on January IS, 1928.
All Notso presented for redemption must be
negotiable In form and be accompanied by
properly executed ownership certificates as
required by the Federal Income Tax Law and
Regulations.
Dated, New York. New York.
November I, 1922. -
THE ATCHTsON, Topeka AND SANTA FE
RAILWAY COMPANY,
By L.. c. DEMING, Assistant Secretary.
The New York herald., 1922-12-07
Consumers

NOUsuffitTs
Power Is 30
certificates
1....... o4h
Corn Products
5s 1894
4....... 9ph
4....... 9ph
Crown Cork q
Seal Cs 1912
M
The New York herald., 1922-12-07
FRENCH ROADS SHOW GAINS.
Bond Issues I'm 1928 VIII Almost
Total This Years.

Receipts of French railroads from
January / to October Is, 1922. show an
Increase of approximately 35o.00o.00O
FRANCS over the corresponding period of
last year. according to the foreign in
formation department of the Bankers
Trust Company. II the French budget
for 1923 Is voted by Parliament without
change the French carriers will be per-
mtted to make new bond issues next
year UP to a total of 4,512. 2.90S,500 francs,
q decrease OF 1873. 100000 francs from
the amount allowed this year.
Electrification of the Midi Railway
between Dax and Toulouse is expected
during 1929. Substitution of electricity
for steam in conjunction with water
power development would. according TO
official estimates. enable France to re-
duce her coal imports by about 100000
tons annually
The New York herald., 1922-12-07
Missouri Road Offering.

An issue Of s5,oOO.ooO of one. two and
three year Az per cent. road bonds OF
the State of Missouri has been awarded
TO Kuhn. Loeb & Co.. Hallgarten & CO.
and the First National Company OF ST.
Louis The s2.O0o,o00 bonds. maturing
December /. 1923. already have been
sold. The $2.0o0,000 bonds due Decem-
her + 1924. and the 81 200. 900 bonds due
December /. 1925, are now being offered
bv the syndicate at prices to yield 4.30
DER cent. The syndicate paid S4.97s.000
for the entire block. seven other bids De
ing received. Earlier this year similar
block of bonds was sold above par.
The New York herald., 1922-12-07
Omer North Carolina s LA.

r. NJ. Grant Co. are offering new
issue of $500, 900 city of Reidsville, N. c.
5A per cent. gold bonds. due serialiy
March I, 1925. to 194s, inclusive. The
bonds. which are issued for street i'm.
provement purposes. are a direct general
obligation of the city. payable from an
unlimited tax upon all taxable property
therein. They are eligible to secure
postal savings deposits, exempt from all
Federal income taxes and are offered at
prices to yield 400 per cent.
The New York herald., 1922-12-07
Fru,t Growers Certificates.

The sale Of new issue Of 4.550,000 OF
6 per cent certificates. In the Fruit Grow
ers Express Equipmsht Trust issued by
the Metropolitan Trust Company OF New
York. trustees, under an agreement with
Armour & Co., dated December i, 1922,
is announced by Clark, Dodge Co.,
Harrison, Smith & Co. and Freeman &
Co. These certificates were issued under
the Philadelphia plan. and mature $780,
900 annually OH May l, from 1928 to
1929, inclusive.
The New York herald., 1922-12-07
GOLD ON WAY HERE.

The steamship Berengaria. which
sailed from England last Saturday, is
bringing gold valued at s1,450,000 con-
signed to Kuhn. Loeb g. Co. This VIII
bring the total OF gold received by
Kuhn. Loeb G. Co. so far this year up
70 52,05O.000.
The New York herald., 1922-12-07
Exuect. Good Market in 1928.

Q The present lull In the bond market
ultimately will prove beneficial. accord
ing to an investment banker. He says
that the bond market reached the point
of saturation in the latter part OF Sep
tember and early in October. and It will
take two or three months to drain It.
The halt coming at this time. he declares.
should mean that good market for
bonds can be expected early next year.
The New York herald., 1922-12-07
Printing Crafts Realty es.

S. w. Straus & Co. have purchased
s3.10o, 900 Of first mortgage per cent.
two to fifteen year serial bonds Of the
Printing Crafts Realty Corporation OF
New York. The bonds represent a closed
first mortgage on the land and building
and a first lien on the income OF the
Printing Crafts Building.
The New York herald., 1922-12-07
CUBAN AMERICAN SUGAR
PROFITS ARE $2,O23,A7
Net for Year Compares With
Big Loss in I92O-192I.

The Cuban American Sugar Com
pany for the year ending September 30.
1922. reports a net profit of $2.023,44f
after interest, taxes. depreciation. &C..
equivalent after preferred dividends to
s1.47 share on its s10.000,000 common
stock (si0 par). This was in contrast
with a net loss of S7,S96,731 in the
preceding fiscal year,
The consolidated income account for
the year ending September 80 last COM
pared as follows with the preceding
fiscal year:
The New York herald., 1922-12-07
DRYDEN TO INCREASE STOCK.

Stockholders of the Dryden Gold Cor.
poration have approved the recommen.
dation OF the directors to Increase the
authorized capital stock from 81, 900. 900
to s., 600 900. all OF one class. and TO re-
duce the par value of the shares from
$40 to 81. Part Of the increased stock
will be used to acquire properties adja-
cent to its holdings in Ontario.
The New York herald., 1922-12-07
south Dakota 4 3-4s sold.

The 100000 issue Of twenty year
ANS of the State OF South Dakota
offered last Monday have been sold.
The New York herald., 1922-12-07
FOREIGN MARKETS.

LONDON. Dec. 6.--Trading was very quiet
on the Stock Exchange to-day. Quotations
were as follows:
Bar silver. 3oxd. per ounce.
Bar gold, o0s. I'd.
Money. Ia per cent.
Discount rates--Short and three months
bills, 2rsa2tb per cent.
Two and one-half per cent. consols. b6h.
British per cent. loan, opiS.
British AZ per cent. loan. o5.
DE Beers, 13.
Rand Mines, 3h.
The New York herald., 1922-12-07
New Peruvian Loan.

The Peruvian Government has negc-
tiated a e1.25o.ooo loan with the London
bank Of j. Henry Schroeder & Co. 70 be
guaranteed by guano revenues.
The New York herald., 1922-12-07
Dominion steel Bonds sold.

Books on the issue of s4.645,0o0 Of
Dominion Iron and Steel Company. Ltd.
consolidated mortgage. 5 per cent. bonds.
have been closed.
The New York herald., 1922-12-07

PARIS. Deo. s--Prices improved on the
Bourse to-day. Quotations we're as follows; /;
Three per cent rentes. 80 francs 40 CEN
times,
Exchange on London, e5 francs 25 contines.
Five per cent. loan. 10 francs 50 centimes.
United States dollar, IL francs BIZ cen
times.
The New York herald., 1922-12-07

p. & L. surp. $40. 453. .34o; sis,as2. .46s.
comprises bond interest. discount on notes
and provision for depreciation. floss.
tDeficit.
The New York herald., 1922-12-07
Am Rel 4 T.

CIV As 1896 Bklyn I'm Elev
1....... 50 1st IS 1880
Am w w e. Ell 1....... s4iz
cit IS 1884 Bklyn Un Gas
1....... "a en- 5s 1o43
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-03-29
Liberty Bonds Reach
New High Level

NEW YORK, March 29.-(A. PD-
Excepting the. tax exempt 1-2s,
which made nominal decline, all the
liberty bonds and victory notes show
ed gains at the close of Yesterdays
active dealings, several making new
nigh records for the movement.
Elsewhere dealings were notable for
the higher range Of speculative rails.
buying of those issues embracing an
unusual number of convertible or re-
funding bonds.
Industrial bonds, also were in keen
demand, especially Consolidated Gas
49, General Electric 5s and SIS and
American Telephone.
Danish. Dutch and Norwegian bonds
were strongest of the foreign dision
French and Belgian offerings easing
| with Philippine Railway 5s, Chinese
Railway 5s Havana Electric IS and
Argentine 5s.
Total sales, par value, aggregated
$15,5OS, 900.
Dullness was the most noteworthy
feature Of yesterdays stock market,
The turnover was the smallest of any
full session since the middle of the
month.
Price movements were in kecpna
with these apathetic conditions.
Charges or fluctuations of more than
one point were almost entirely re-
stricted to low-priced or speculative
issues under professional control
Developments bearing upon market
values offered little incentive to the
long or short account. Further price
advances in steel products were taken
as matter of course, and an extern
''on of the New England industrial
disturbances was without perceptible
influences
Minor and secondary steels, equip
mcnts and motors, as represented by
Gulw States, Crucible Vanadium, Vir-
ginia Irion, Lima Locomotive COM
mon and preferred, American Loco
motive, Baldwin Locomotive, Pullman,
General Electric and Electric Storage
Battery made gross gains of one to
four points.
Sears Roebuck supplemented YES
terday's substantial gain and feathers
coppers and gas and express company
ISSUES were prominent in the EXTEND
ed movements of the final hour. High
grade rails were sluggish. despite more
excellent. February earnings. Mexican
Petroleum made new gain of almost
two points.
The money market reflected the
listless course of investment stocks, a.
4 Ia per cent rate ruling throughout
for call loans.
Predictions of a cut in the local
federal reserve rediseount rate were
not shared by informed banking in
terests.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-03-29

Oout in Omaha gas metar reader
turned out to he q burglar. Some
times it does seem rather hard to
make the distinction
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-03-29
Primary Receipts
or All Grains

or All Grains
CHICAGO, March 29.-Primary re-
ceipts-Wheat 66S,000 bushels against
$4,000 bushels. Corn, SOL 900 bush
els against $4,000 bushels. Oats 473,-
600 bushels against 1000 bushels.
Wheat, $4,000 bushels
against $4,000 bushels. Corn 564,-
Ooo bushels against 6O9;OOO bushels
Car lots, Kansas City-Wheat. 1OF
corn, 26; oats, l2. Minneapolis
Wheat l41; corn, II; oats, II. VIM
nipeg-Wheat, 773: oats, $50; rye, 20;
barley, S6. Duluth-Wheat, 80: corn,
4; oats, 26. st. Louis-Wheat, 40;
corn, 20;, oats, 20. Omaha-Wheat,
rs; corn, 40; oats. 3.
Minneapolis Grain Market
MINNEAPOLIS, March 29.-Barloy,
57G62c. Flax, No /, s2.49 1-2@
2.54 1-2. Wheat, May $1.4o 5-S;
July ,$1.32.
Winnipeg Wheat Futures
WINNIPEG, March 29.-Wheat,
May, s1.34 3-4; July, s1.S2 rs.
Grain at San Francisco
SAN FRANCISCO, March 90
Wheat-Milling, 2.3O; feed,
$2.20 to $2,25.
Barley-Feed, $1.35 to $40; ship
ping, Sl.42i5 to $1.52 1-2.
Oats-Red feed, $1.65 to $3.50.
Corn-White, Egyptian, 81 to $210;
red milo, SIS to $3.50.
Wheat, $l7 to $40: fair, s14
to $l7; tame oat, SIS to $19; wild
oat 81 to $l3; alfalfa, SIS to SIS;
stock, SO to $l1; straw, nominal.
Seattle Grain Market
, SEATTLE, March 29.-Wheat, hard
white, $1.25; soft white, white club,
soft red winter. northern spring,
S1.24; hard red winter, $1.26; eastern
red Walla, $1.21; Big Bend bluestem. |
$1.4S.
Hay and feed unchanged.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-03-29
LICENSES AUTHORIZED

PHOENIX, Ariz., March ga bill
to authorize the issuance of marriage
licenses in Arizona by all justices
OF the peace has been introduced in
the state legislature by Representative
w. H. Cobbe of Bisbee. The measure
would amend the law requiring appli-
cants to journey to a county seat Tho
present law, Mr.. Cobbe explained,
works hardship on poor couples.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-03-29
Cattle On Weak
BASIS At Portland
ETA

tFrom The Oregon JournalD
Cattle are weak while hogs and
sheep were on a nominal basis at the
opening Of the Tuesday trade at North
Portland. Only cattle arrived during
the day.
Seemingly Monday is the bait day
at North Portland 1or then extreme
prices are paid for load or so. This
appears most generally in the cattle
alleys. Instead of showing the strength
that would be indicated as result of
sales as high as $s.25 for selected
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-03-29

rake one reckless, natural born fool.
Two or three big drinks of bad
liquor.
A fast, high-powered motor car.
soak the fool well in the liquor,
place IN the car and let him go. Aft
er due time remove from the wreck
age, place in black, satin lined box
and garnish with flowers.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-03-29
BY JUNIUS

Topeka Kan. merchants announce a
Ford Day. when all Ford cars will
be invited to make themselves at
home on the streets. We supposed
that was what Fords did every day.
Profitable Lifts
Il notice you frequently pick up
people and take them to town in your
car"
Yes, said the enterprising citizen.
a man can't very well refuse to hear
what you have to say when he's get
ting free ride.
True To Type
Say. this car you stuck me with |
should think was meant to STALL judg-
ing by the way it acts
We'll, what are you kicking about
Didn't YOU buy it on the installment
plan?"
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-03-29
DAILY MARKET NEWS, LOCAL AND GENERAL


stock, the market actually is some
what depressed for the general run Of
offerings.
Carryoyers from the weeks initial
run were shown. This in itsel: is a
confession Of weakness and inability
to clean up at the quotations named.
General cattle market range:
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-03-29
The Costly Pet

Guess I'll have to stop calling my
wife "Toots."
why So?"
"It always reminds her that she
wants an automobile"
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-03-29

1t oughtn't to be any trouble to
work the mails with work on the job.