davidaulloa/AmericanStories huggingface dataset:
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1922-02-10
SpringFfoelSs.

T. OR some days past Mrs.
i ,Osgood and Miss Hunsaker
have been selecting new frocks
from the foremost New York
creations. They have been com
ing in day by day and our col.
lection now is wonderfully com
plete. Ample assortments OF ex-
elusive modes in all the popular
bright colors and combinations.
as well as in navy and black;
plenty of all sizes and a wonder
fully attractive price range are
evident in the frock section.
=
The New York herald., 1922-11-04
TOPICS OF WALL STREET.
U. 8. Steel Swings Upward.

The strength In United States Steel
was the outstanding feature OF the
market. On a turnover OF more than
II 900 shares the stock got up to 1073s
whore 1t closed with a net gain OF . a
points for tho day. and was 4 "a points
above the low OF Wednesday afternoon.
Barring serious transportation Difficult
ties. 1t Is believed that United States
Steel and most Independents Will show
improved earnings IN the current quar-
ter, and that while pig iron prices may
go lower finished steel products, with
some exceptions, Will hold for some time
their present levels. Opinions respecting
the forthcoming report of the United
States Steel Corporations untitled ton
mage appears to be divided. The finan-
cial community believes that II will
show slight falling off and those in
tho steel trade point TO the demand for
steel from railroads, automobile and
equipment companies as reasons why
bookings should increase.
The New York herald., 1922-11-04
LOAN FOR GERMANY
POSSIBLE, IT is SAID
Bankers Declare IT Could Be
Made Only on Postponement
Of Reparations.

The announcement that tho German
Cabinet had decided to ask the Allied
Reparations Commission for permission
to issue a foreign loan of 500. 10000 gold
marks for the purpose Of stabilizing the
mark drew comment from several inter-
national bankers yesterday. 1t was re-
iterated that such a loan could be put
through only II Germany received per-
mission TO postpone reparat1ons pay
ments for a period OF years.
Bankers said IT would take at least
six months to put through large loan
TO Germany. for the political situation
would have TO be adjusted before finan-
cling could be properly discussed.
Meanwhile there Is little hope of ar
resting the decline in marks. 1t was
pointed out that the German mark still
has some way to go before IL gets into
the class OF rubles and Austrian kronen,
which practically have no purchasing
power whatever. Bankers said that the
complete shattering of the German
monetary system need not be accom-
panied by any upheaval worse than that
already witnessed. The example or
Austria shows that country continues
to drag along somehow after the COM
plete collapse of Its monetary standard.
Large business transactions In Ger
many now are mostly In foreign cur
rencies such as sterling. guilders. &c,
and further declines in marks probably
will mean that this custom will spread
TO smaller dealings. An Illustration or
this was given by one banker who said
he had heard of a man in Berlin who
advertised his house for rent at $1,000
in gold a year. Those in Germany who
are in a position TO demand payment
in foreign currency are doing so.
II is thought likely that an Austrian
loan viii precede a German loan.
Representatives OF the allied Powers
have been working on the details OF
an international loan to Austria for
several months and II IS believed that
considerable progress has been made.
That a loan to Germany ultimately
will have to be made is generally con-
ceded in American banking circles. The
condition OF the mark is ukened to
cancer which Is eating into the other
Continental exchanges, particularly
French francs and Italian lire. Ster-
ling, Norwegian kronen and guilders
are about the only exchanges which
have not felt the evil influence of the
decline in marks to a large degree.
The New York herald., 1922-11-04
Copper Merger Plans.

Discussions looking to consolidation
OF the Utah. Chile. Braden. Kennecott
and Mother Lode copper companies have
reached the stage where time is being
marked with small likelihood OF any
conclusion being reached before the end
of the year. Meanwhile unconfirmed re-
ports have IL that interests identified
with the American Smelling and Rein
ing Company have been buyers Of Chile
Copper Stock for several weeks, their
present holdings being placed at up
ward of $1,000 shares. Mother Lode
plans to place in operation soon the
new smelling unit, which will bring its
monthly production up from 100000 to
5000 900 pounds.
The New York herald., 1922-11-04
FINANCIAL NOTES.

]. x. Rice.. Jr.. q Co. have issued a cir
GUAR on u. w. Bliss Company.
The Chatham and Phoenix National Bank
has been appointed new York registrar and
ccupor paying agent for an issue OF 81, ,500,-
pO0 twenty year first mortgage per cent.
Striking fund gold bonds of the Locomobile
Company of America. Inc.
Caldwell q Co. have issued booklet en-
titled Tho South's Answer" describing the
Industrial and municipal expansion In South
Cru States in recent years.
Raymond X. Howe, formerly with the
Guaranty Company. and Donald II owens,
formerly with Lamport, Barker jennings
have become associated with Lage & Co. in
their bond department.
The Bankers Trust Company has been np.
pointed transfer agent for the Niagara,
fOckport and Ontario Power Company pre-
forrcd and common stock.
Mcdonnell a Co. have issued n circular
discussing bond market conditions with par
ticular reference to 500 and $500 bonds.
The New York herald., 1922-11-04
PIERCE OIL MEETING
rs ORDERED FOR DEC. 2
Justice O'Malley Cg4nts Plea
of Preferred Holders.

In decision handed down yesterday
In Special Term, Part 1. Justice James
O'Malley of the Supreme Court, granted
the application OF the preferred stock
holders OF the Pierce Oil Corporation
and ordered a meeting OF preferred
stockholders in Richmond, Va. on
December 2. next, for the purpose OF
electing a new board of directors.
The decision was in answer to a petit
tion filed recently by William A. Will
Jams and other preferred stockholders.
because Of four successive defaults I'm
dividend payments on the preferred
stock. Samuel II. Jacobs and Judge
Frank G. Laughlin acted as counsel for
the preferred stockholders, and Judge
Alton B. Parker for the opposition
The New York herald., 1922-11-04
Railway Association Affairs.

Internal affairs OF the Association OF
Railway Executives are shrouded in
secrecy and no Indications are forth
coming as 20 what action viii be taken
70 iii the place left vacant through the
death. on Thursday. Of Thomas De Witt
Cuyler. chairman OF the association.
That nothing will be done until a meet
ing OF the standing committee OF the
association. next Thursday Is definitely
decided. 10 IS believed that while the
discussion OF successor to Mr. Cuyler
naturally will occupy the attention OF
tho executives to the exclusion OF al
most everything else there will be time
for n general declaration Of the future
policy OF the organization.
The New York herald., 1922-11-04
Public UtiIity stocks.

Although actively traded IN yesterday.
the public utility issues. with the single
exception OF Public Service of New
Jersey, lacked their. usual buoyancy.
Most of them gained slightly on the day,
but they did not follow their usual
snappy form in an active market. Pub
lie Service. however. made a new high
for the year, above 80. Consolidated Gas
has Jagged ever since It became known
a fortnight ago that the management is
considering plan to sell some of its
stock direct to the public. Buying has
been rather limited pending some de-
velopment in connection with the plan.
The New York herald., 1922-11-04
Indiahoma Refining.

After watching Indiahoma Refining
shares on the tape for e long timo
fluctuating around 81 and s. a share
II was something OF a shock 10 the
financial district yesterday morning
TO note tho initial quotation of d NJ
around q. Some time ago tho company
announced its decision TO increase the
par value OF its stock and scale down
the outstanding amount by exchanging
one new share for five old. This ex-
change has been accomplished and the
new stock was traded I'm on the ex-
change for the first time yesterday.
The New York herald., 1922-11-04
Standard OIL of New York.

Stockholders OF the Standard Oil Com
pany Of New York formally have ap-
proved the recently proposed increase
in It's capital stock from $1,000 600 TO
s225. .OO0. 0Oo. and reduction Of the par
value Of the shares from 500 to SIS. the
new stock to be distributed In the form
Of a 200 per cent. stock dividend. to
holders Of record December l. Directors
declared yesterday the regular quarterly
dividend OF 81 "A share. payable Decem-
Der Is to stockholders of record Novem-
Der "a. This dividend is payable on the
present outstanding y75.0o0,000 OF $40
par stock
The New York herald., 1922-11-04
THE EQUITABLE
TRUST COMPANY
or NEW xORk.
UNION NATURAL GAS co.
TO CUT rs p. c. MELON
Directors Propose Doubling
of Car fcI Stock.

PITTSBURGH, Nov. 3.--Directors of
the Union Natural Gas Company voted
to-day to declare stock dividend of
20 per cent. In addition to the regular
cash dividend, provided the stockholders
at a meeting on November 2S vote fav-
orably upon a proposal to increase the
capital stock from $lO,0ooo00 to s20.-
Q00, ,00o ~
The proposal submitted by the direct
ors provides that the par value of the
new stock shall be s25 instead of 500.
Tho company's properties are chiefly in
Northwestern Pennsylvania, Ohio, West
Virginia and Indiana.
The New York herald., 1922-11-04
Course of Coal Loadinss.

Little change is noted in the situation
surrounding the movement OF coal over
the country's railroads. according to the
American Railway Association. Daily
advances or decreases generally balance
TO give at the end OF the week a figure
slightly in excess Of the preceding week.
Loadings OF btuminous coal for the
first three days Of the week amounted
TO i05,51 cars. On Wednesday this
grade of coal was loaded TO the extent
OF 2s,ois. while the total for anthracite
on that day was 1881 cars.
The New York herald., 1922-11-04
Railroad Equipment Buying.

A review OF RdskcGv Age shows
moderate activity in the way Of new
equipment orders placed by the carriers
of the country. New locomotives to a
total OF 115 have been ordered. Illinois
Central taking first place with a COM
mitment for eighty-ffve. In the matter
of new freight cars, a comparative hlll
from the recent marked activity IS
noted. last weeks total being slightly
more than 1000 cars. Belated rail
orders of 10000 tons were made In ad-
dition TO large orders placed just before
the price advance OF October 1. last. =.
The New York herald., 1922-11-04
OIL INCOME LOWER.
Panhandle Producing and Refining
Reports Drop In Net.

The Panhandle Producing and Refining
Co. for the third quarter of this year
reported net income amounting to
s207 S67 after expenses, in contrast with
s242. $40 in the previous quarter and
e259.5S3 In the corresponding period a
year ago. Operating revenue aggregated
s.147S93. compared with ss69.933 in the
previous year ..
Afer deducting expenses OF s929,317 a
balance of s21S.576 remained. compared
with one of s25s. $50 in the preceding year.
"A surplus of s147.564 was shown, in con-
trast with a surplus of sl95,045 in the
corresponding period year ago.
The New York herald., 1922-11-04
Baldwtn's Orders.

Untitled orders now on the books OF
the Baldwin Locomotive Works total
$1. 400, ,0Oe, which together with business
in sight is expected TO warrant increas-
ing the rate OF operations to rs per cent
by the end OF the year. compared with
e5 per cent. at present and As per cent
on September 1. The company's book
ings during October were IS .So9, ,o4s, which
brought those for the first ten months
Of 1922 up to a total OF $50. 135. sos. an In
crease of 107 per cent. over the corre-
sponding ten months of 1921
The New York herald., 1922-11-04
Changes in Erie Management.

Superseding the original announce
ment OF changes IN division and man
agement OF the Erie Railroad. an an
nouncement was made yesterday 70 the
effect that Robert S. Parsons, vice
president In charge OF operation OF the
entire system, has been assigned as
manager OF the Youngstown region. and
w. A. Baldwin. first designated as in
charge OF the Youngstown region, has
been nominated 20 take Mr.. Parsons
place with headquarters here.
The New York herald., 1922-11-04
Loft-Retan Candy Merger.

II is expected that the terms OF a
merger proposal designed TO bring Loft.
Inc, and United Retail Candy Stores
under one management Will be an
nounced In the near future, probably
some time next week. following which
special meetings OF the shareholders OF
both concerns will be held to get the
necessary authorization.
The New York herald., 1922-11-04
CALL MONEY EASIER.

plentiful supply OF money was
available for call loans yesterday and
the rate declined from 5 per cent. to
Az per cen The time money market
was slightly ore active and several In
stitutions W e well supplied with
money to be aned at per cent for
periods up to six months Loans OF
three and four mon $ were made at
that rate.
The New York herald., 1922-11-04
STEEL SALES INCREASE.

The Pittsburgh Steel Company for
tho third quarter of 1892 reports gross
sales of S5.5s1.129. an increase of ST.
o52,340 over the same quarter of 1921.
After deductions there was deficit of
s9.es6, compared with surplus of SIS,
921 In the corresponding three months
OF 1921.
The New York herald., 1922-11-04
Bosch Magnetic Higher.

The run-up In American Bosch Mag
neto shares was accompanied by reports
that beginning December 1 the company
will face the most profitable six months
1t has had in two years, owing to the
scale on which magnetos are being pur-
chased and the promise for a continued
increase in business. The company num-
bers among its customers international
Harvester, J. L Case Threshing Ma
chine Company and Chandler Motor Car
ComDany
The New York herald., 1922-11-04
September Rail Returns.

The final report OF the net earnings OF
Class railroads during September is
expected to-day. showing. estimates In
dicate. an aggregate net OF approxi-
rnstely s55,0to.0o0. as against the tJO.-
OJ00 preliminary estimate. The report
IS complete with the exception Of four
roads. Net for the roads In September.
1921. was ts7,i74,0co. Increased expend-
itures following the shopmen's strike Is
regarded here as the fundamental
reason for tho slump In September
The New York herald., 1922-11-04
FARRELL BACK FROM EUROPE

James A. Farrell. president of the
United States Steel Corporation, has re-
turned from six weeks pleasure trip
70 England, France and Belgium.
The New York herald., 1922-11-04
MONEY MARKET.
FRIDAY, NOVEMBER. 8.

FRIDAY, NOVEMBER, 8.
High. ............. Years high........ @
Low. ..,........... az Years low. w..... 3ik
TIME LOANS.
MIXED collateral, go days............. AZ
Mixed collateral, 90 days.............. 4a
lndustrials, so days. s...................... Az
InduBttisls. 30 days. s..................... AZ
~. COMMERCIAL PAPEH.
Best names, A TO 9 months. hs.......... a.,
Other names. 70 months. .,........ AZ
DISCOUNT RATE, RESERVE BANK.
Commercial paper. Is days, 4; 60 10 90
days, q; Liberty bonds and Victory notes, 10
days. 4; 10 TO 90 days, 4; bankers accept
anccs, 10 20 90 days, 4.
OPEN MARKET RATE.
Call loans and acceptances. .......... 4ibes
pfscount rates on prime bankers accept
snces eligible for purchase by Federal Re
serve banks:
Bid. Ask. Bid. Ask
so days.. 4h 4 no days.. AZ 4
60 days.. as fl120 days.. Az 4
CLEARING HOUSE STATEMENT.
Clearing House exchanges. 1886, 900, ,o0o
balances, $sI 100000. Federal Reserve credit
balances, S5G.0o0,oOO.
SILVER MARKET.
official bar silver IN New York, domestic.
NvHc., uIchangedi foreign, 667sc., off SC. :
Londcn, 33ild., off Nd. Mexican dollar, Sic,
off ssc.
The New York herald., 1922-11-04
FAR EAST.
SOUTH AMERICA.
CANADIAN ExcBANC

New York funds In Montreal, 81 cents dis
count a 81. 900; Montreal funds In New York.
81 cents premium $1,000.
The New York herald., 1922-11-04
NEW YORK STOCK EXCHANGE QUOTATIONS

Open High Low Clos- Net
ing, es.. eat. Ing. lCh'ngs.
The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1922-06-29

The poorer the soil, the greater are
the benefits from grazing. When
legume is grazed, at least IS per cent
of the fertility contained in the crop
passes through the animals and goes
back to the land. In addition graz
ing leaves a residue which is valu-
able for soil improvement.
This method of handling legume
crops is doubly important in Ken.
lucky in view of the fact that the
limiting factor in crop production on
many poor soils is a lack of nitrogen.
In order to supply this element OF
soil fertility economically, legumes
must be grown and turned under or
the manure made from them return.
ed to the land. When land is ex-
tremely poor, it may be advisable to
pillow under the entire legume crop
without grazing. A number of farm
ers have reported good results from
this practice.
The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1922-06-29
AN IDEAL INVESTMENT

Albert w. Atwood, one of the best
known writer's on the subject of f.
nance and investment, has recently
written a very important article for
the Saturday Evening Post under the
title, Protecting the Small Investor"
In the course of the article he writes
of treasury savings certificates, us
ing the subtitle, "An Ideal Invest
ment," of which he says;
ut cannot be stated with too
much emphasis that anyone who
really wants a safe investment with
a good interest return can secure
the same without the slightest diff
Guilty. On December Is last the wife
of the president of the United States
purchased from Mr.. Mellon, secre-
tary of the treasury, the first treas
ury savings certificates sold by the
United States government These
are now ON sale at all postoffices and
many banks and can be had by mail
direct from the treasury department.
They pay 25 per cent on the money
invested for five-year period. They
are guaranteed by the government
to pay this figure, and guaranteed
against any decline in price. They
are beyond question the safest and
surest investment available to any
American citizen, and If they are not
good, then nothing in the world is,
There has peen a lot of talk aud
cheap platitudes about the necessity
and advantages OF thrift and savings,
put man cannot dig a garden with
out tools and he cannot save with.
out a secure place TO put his money.
A splendid work is done by the saw
The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1922-06-29

ings banks, but they do not cover the
entire country by any means. Thehe
are millions of people whom they do
not reach. Life insurance covers an
even wider field, but it is only parti-
ally a savings and investment propo-
sition. The government is the one
agency that can appeal to everybody,
and at last, after much experiment
ing druing and following the war, it
has devised permanent form of
small investment which is simple,
convenient and which meets the
needs of all except the wealthiest
classes.
These certificates are always sold
at the same price, $40, $50 and 800
In five years they are paid off at $25,
500 and $1,000, respectively. This
is four and one-half per cent interest
compounded semi-annually. 1t is 25
per cent in five years. There is no
state or local tax on these certifi.
Gates and no normal federal income
tax. Any individual can buy as much
as $4,000 each year, and the same
amount is available to any member
of his family. They can be redeem.
ed at any time before the five years
are up, at the full amount paid. plus
three and one-half per cent interest,
by sending them to the treasury de-
partment. Since the name of the
owner is registered at Washington
the loss of the certificate does not
mean the loss of the investment.
There is no risk. depreciation in val
ne or promoters or bankers com.
mission to pay, there is liberal in.
terest and an immediate cash with
drawal value"
The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1922-06-29
GRAZING LEGUMES POPULAR
FOR IMPROVEMENT OF sol

Grazing legume crops, such as clio
yer and cowpeas, instead of harvest
ing them for hay is becoming more
popular with farmers who wish to
build up their soils, according to R.
E. Stephenson, soils and crops spe-
cialist at the College of Agriculture.
Crops of this kind are maturing in
the state at the present time and
many farmers are planning to give
this method of soil improvement a
trial, he added.
Grazing such crops gives an added
advantage in soil improvement in
that it gives a return from the land
and at the same time improves it.
On the other hand, when the crop is
used for hay, two-thirds of the organ.
ic matter is destroyed and the valu.
able part of the crop for humus max
ing is reduced.
The first crop of clover in Ken
lucky is now ready for hay, but indi-
cations are that not many farmers
will allow the crop to remain on the
land to fertilize the soil. However,
in a good many cases, the second
growth will be pastured and then
left for the benefit of the soil. A
few farmers have stated that the sec
ond crop can be marketed as profit
ably in this way as it can when cut
for seed or hay. Another advantage
of grazing is the fact that a good
supply of clover seed is left in the
soil, thus making it easier to get
new stand of the crop. Cowpeas and
soybeans also will be ready for har-
vest in a short time and both OF
these are well adapted to grazing.
The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1922-06-29
CHILD LABOR COMMITTEE
FORMED IN WASHINGTON

A permanent organization for lab,
solute abolition of child labor in the
United States" was formed recently
by representatives of a number OF
national associations called into con-
ference by Samuel Gompers, presi-
dent of the American Federation of
Labor, at Washington. The meeting
was arranged following the decision
of the United States Supreme Court
holding that special excise taxes on
the product of minor labor were in
valid.
Spokesman for the new organiza.
ton, after a conference at the Amer
lean Federation of Labor headquar.
tiers, appeared before the house judi
ciary committee to urge legislation
prohibiting or regulating employ
ment of children in mines, factories
and similar arduous occupations.
Representative W. M. Cain, of New
York, said it was the opinion Of
members of the committee that the
Supreme Courts ruling had made it
impossible to accomplish anything
by legislative regulation unless and
until a constitutional amendment
had been adopted.
The new organization formed to in
stitute a campaign for such an
amendment will be known as "the
permanent conference for the aboli
tion of child labor" Mr.. Gompers
accepted the post of chairman.
The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1922-06-29
NO MORE RATS

or mice, after you use RAT-SNAP.
It's a sure rodent killer. Try a
Pkg. and prove II. Rats killed
with RAT-SNAP leave no smell.
Cats or dogs won't touch II. Guar
anteed.
35c size Il cake) enough for
Pantry, Kitchen or Cellar.
CSC size e cakes) for Chicken
House, eoops, or small buildings.
SIPS size s cakes) enough for
all farm and outbuildlngs, stor-
age buildings, or factory build
ings.
Sold and Guaranteed by
cHENALT q oREAR
The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1922-06-29
"tiow We Cleared Our Summer Home
of Rats" by Mrs. Perry.

when we opened our seaside
home last May, it was alive with
rats. They'd gnawed all the uphol-
steering. We cleaned them out in a
week with RAT-SNAP. 1 prefer this
rat killer because it comes in cake
form, no mixing. Saves dirtying
hands and plates" Three sizes, Csc,
Csc, $1.25. Sold and guaranteed by
Chenault & Orear.