davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-05-31
INVESTMENT NOTES.
The Bond Future.

Dealers report that investors of the
higher type who make a study of
fundamentals have shown a tendency to
withhold their purchases of bonds on
the theory that conditions are unfav-
orable for a further rise in the values
of fixed income securities. The argu-
ment advanced is. of course that the
bond market has discounted easier
mc~Sey and that indications point to a
boom in business for several years. In
the past big bond years have almost
invariably been followed by active busi-
ness periods. Moreover. investors point
out that already the market for new
securities shows a little WEAKNESS and
that If new financing continues in the
same volume u reaction in prices is
almost certain. In considering this
question the changed economic condi-
tions1 brought about by the war must
be kept in mind. It should be remem-
bered that investors in this country have
been multiplied enormously in the last
few years and that the per capita
wealth of the country is greater than
ever before. 1t is true that a large por-
uon of the new bonds issued in the
last two years have been purchased
with the idle working capital of cor
porations and that those securities will
be liquidated as business expansion
warrants it. Indeed, this liquidation
has been going on in small degrees for
some time without much disturbance.
The largest bond buyers. the country
banks, finding more money for in
vestment every day as the farmers inn
prove their positions and liquidate their
loans As TO new financing, most of IL
in the next few years will undoubtedly
be I'm the form of refunding operations,
so sthat no added burden on the bond
market viii result. AS corporations in
crease earnings and surpluses they will
want to call in their high coupon obll-
Cationg
The New York herald., 1922-05-31
FRENCH GROWERS FIND
WINES FAXED HERE
viii Seek u. S. Aid to Stop
Forging of Bordeaux Labels.

Special Gable 10 THE NEW York HERALD.
Copyright, I92e, by TIE New YoRK HERALD
New York Herald Bureau,
Paris, May 30.
Faking the labels and even the con-
tents OF bottles of so-called French wines
abroad is increasing to such an extent
that French wine growers and dealers
have decided to inaugurate movement
Immediately for an international analyti-
cal board. with authority TO bring suit
against the baleful substitutes, most of
which, according to the experts. are
loaded with dangerous chemicals. Since
the Nolstead act such fabrfcations are
increasing In the United States and the
aid of the United States Government in
their suppression will be sought.
According TO one authority. mixtures
of apple and grape Juice, artificially fer
mented. are being sold with Bordeaux
labels throughout the United States and
South America. Expectation OF French
bottled wines last year showed nearly
so per cent. decrease as compared with
1920. Exports of champagne dropped
from 10000 TO less than 10000 hectoli-
ters in the same period. or from 1896, 900
gallons TO 2,640O0O
The New York herald., 1922-05-31
Blouse Trade Is Hopeful.

Tho blouse manufacturing trade is
confident that a substantial buying
movement will develop during this sum-
mer. They believe that tho small but
steady consumer demand is wearing
down retail stocks to such an extent that
much replenlshment will have to be done
soon. Then again the rising silk mar
ket may exert a favorable influence on
buyers. Representatives of manufac-
turers returned recently from trips
throughout the country. reported that
retailers had great deal OF confidence
and were waiting only for the compile
tion of fall lines to place substantial
orders. Little business is expected 10 be
done this week, as 1t is thought that
many retailers will not come into the
market until next week.
The New York herald., 1922-05-31
Business Revival Continues.

Business conditions continue to Inn
prove. according TO the Credit Guide
THAT activity IL reviving," says that
publication. may be judged from re-
ports received from all sections OF the
country. There can be no mistaking the
multiplying evidence of greatly inn
proved Industrial conditions. Tho re-
cent cut in freight rates is expected 10
stimulate and accelerate this revival.
Retail trade held UP we'll, reports lndi-
eating a slight increase over the pre-
vious week. Manufacturers and whole
salors report n further noticeable inn
provemont In the number OF orders re-
ceived and also In the quantity OF mer-
chandise purchased, showing that the
The New York herald., 1922-05-31
Missouri Pacific.

The Missouri Pacific Railroad COM
pany has issued approximately SAT 00o.-
900 of bonds under its first and refund
ing mortgage. which is secured by a
direct mortgage on $3.50 miles of road.
The bonds are divided into four series,
A, b, G and d. The series d bonds
carry interest at the rate of per cent.
and are due in. 1919. At current prices
they yield the investor a straight an
nual Income of 6 per cent. The bonds
are a first lien on 2,9is miles. q second
lien on 2,10S miles, third lien on LAO
miles and a fourth lien on 2S5 miles.
They are further secured by deposit
of more than $6,000,000 OF securities.
The New York herald., 1922-05-31
Brazilian Coffee Loan : 1-2s.

An interesting foreign issue. obtain
able in sterling bonds only. is the 7h
per cont. coffee security loan bonds OF
tho United states OF Brazil, listed on
the Curb Market At current prices these
bonds offer investors a yield to matur-
ity of more than 7.20 per cent The
bonds run for thirty years and are in
coupon denominations of $1,000, $500 and
f100. Principal and interest are payable
in London n sterling and in New York
in dollars at the exchange OF the day
on London. free from all present or
future Brazilian taxes. The payment OF
principal and interest is the direct OBJ
legation of tho Government of Brazil.
The bonds arc secured by a first hy-
The New York herald., 1922-05-31
BOND NEWS AND NOTES.
New Haven Equipments.

Edward L. Smith & Co.. Halsey,
Stuart & Co. and Edward Lowber Stokes
& Co. are offering S2,561 900 New York,
New Haven and Hartford Railroad Com
pany per cent equipment gold notes,
maturing $4,000 annually January Is,
1923, to January Is, 1885, inclusive, at
prices to yield to 5.75 per cent, ac-
cordlng to maturity. They are redeem
able as whole, but not in part at the
option of the company at 103 and in
terest. The notes were originally issued
liz fifteen series, the first two of which
matured and were paid January Is,
1921, and January Is, 1922. They are
direct obligation of the road and are
secured by equipment costing originally
$4,440,200.
The New York herald., 1922-05-31
BUSINESS NOTES
AND TRADE NEWS
Coat Orders Are Satisfactory,
Blouse Trade Is Hopeful,
Credit Men Meet.

The business of prominent manu-
facturer OF coats for children and
misses has been satisfactory and goodly
amount Of sales of popular priced better
grade coats has been turned in by his
statesmen covering middle and North
western territory, he said. Statesmen
covering New England sections left this
week and it IS believed that they will
have similar success. because retailers
are not carrying normal stocks. Last
weeks sales OF local retail coat and
suit stores were said to have been Of
fair volume. In sports wear. tweed
suits were prominent
The New York herald., 1922-05-31
Dress Credit Men .Ieet.

The service bureau OF the Associated
Dress Industries OF America will hold
tomorrow luncheon meeting. accord
ing TO an announcement by David N.
Mosessohn. its executive director.
Speakers in the meeting will emphasize
tho Importance OF credit men 70 whole
sale dress concerns and stress the need
for unusual care in the selection of per-
sons to check credits. The value OF
close cooperation between credit depart
ments to the industry and individual
concerns In the dress trade also will be
stressed, it was said.
The New York herald., 1922-05-31

pothecation on about 4,5S5,000 bags OF
coffee, being the whole of the Govern
ments stock of coffee, the market value
of which exceeds f13,OOo.0O0. The Gov
ernment of Brazil undertakes always
to maintain in the hands of its bankers
quantity Of coffee the value of which
at 50 per cent. of it's current price, to-
gether with the market value of any
other security in the hands of the bank
ers. shall be equal IN the aggregate to
the par amount of tho bonds outstand-
ing. together with one years interest on
such bonds.
The New York herald., 1922-05-31
Consolidated Smelling Issue.

MONTREAL, May 30.-Shareholders OF
Consolidated Smelling approved to-day
an issue of $7,500.000 per cent. twenty
year bonds. Only $4,000, 900 will he is
sued now. The bonds are retirable after
three years on call at $110 and accrued
interest payable in Canada only, and
may be exchanged for stock at part
after 1927.
The s6,0o0,000 will retire the present
outstanding 100000 issued to pay off
special bank loans of 1892. 900 and to
build new mill at the Sullivan Mines
to cost about s1,20o.000. The bonds
will be offered to shareholders at par
and to holders Of the present issue. of
whom 30 per cent. have agreed to ex-
change.
The New York herald., 1922-05-31

as the numbers Of tho 81 bonds. issued under
the trust deed OF the Chicago g. Western
Indiana Railroad Company dated December
ist. 1sse. 20 be redeemed. by the operation
OF the Sinking Fund on June ist next. at the
office OF Messrs. j. II. Morgan g. Co. New
York. al i0J and accrued interest TO that
Gate. Registered bonds should bo accom-
panied by a power OF attorney transferring
them 20 bearer.
All bonds previously drawn for redemption
have been presented for payment.
HEHBERT l.. SATTEELEE,
PAUL g. PIlNNOYER,
Trustees.
The New York herald., 1922-05-31
Dry Goods sales run Even.

Marshall Field &c Co. in their weekly
report of conditions. reported sales on an
even with those OF the preceding week
Current wholesale distribution of dry
goods remained at the same level" says
the report. "and was practically the
same In volume as the corresponding
period last year. Road orders for Inn
mediate and fall delivery were larger
There were fewer customers In the mar
ket than o. year ago. Collections con-
Time to show Improvement over the
corresponding week in 1921"
The New York herald., 1922-05-31
Louisville Land Bank.

The Louisville Joint Stock Land Bank,
operating in Kentucky and Indiana, has
sold $4,000. 900 of its per cent bonds,
due May l, 1852, to a syndicate includ-
ing Halsey, Stuart & Co., William r.
Compton Co., the Fidelity and Columbia
Trust Company and HennIng, Chambers
g. Co. The bonds will be offered to-day
at 103 and interest, yielding 4.60 per
cent. to the optional maturity (1932)
and per cent. thereafter.
The New York herald., 1922-05-31
s1.25O.OoO Realty Issue.

s. W. Straus & Co. have underwritten
q first mortgage 615 per cent. serial
bond issue of $1.250,0O0 on the Argonne
Apartments in Washington. The bond
issue is direct closed first mortgage
on both land and building. The struc-
ture. construction work on which will
begin at once. will be eight stories high.
The bonds mature in three to fifteen
years.
The New York herald., 1922-05-31
ELECTIONS AND MEETINGS..
THE HANOVER NATIONAL BANK
OF the City Of New York.
Nassau & Pine SITS:

aNW ANAsAt -Aos - ~S-~-
To the Shareholders
OF The Hanover National Bank
OF the City OF New York.
Notice Is hereby given that special meet
inr OF tho shareholders OF this Bank has
bee. called and viii be held az 10 o'clock
A NJ on Tuesday. the sixth day of June.
1927 AZ the banking office of The Hanover
National Bank Of tile City of New YORK.
corner Of Nassau and Pine Streets, Manha,-
tan. City OF New York. TO vote upon hs
following resolution:
RESOLVED, that. under tho provisions
az the Act OF May 1. 1856. the Capital
stock OF this Association be Increased in
the sum of s.. .OOO. 900. making the total
CAPITAL 5,O0O. .OO0. Said Increase shan DO
made BY n stock dividend from the uu-
divided profits of the Bank, and 20 vots
upon such other matters es may properly
be brought before said meeting.
BY order Of fhe Beard ~ Directors
WILLIAM r. CABLE. IN csseier
The New York herald., 1922-05-31
LIVERPOOL COTTON MARKET.

LIVERPOOL, May 3c.--Cotton spot in fair
demand; prices firm: American middlne
fair. 13.50d. good midding, 1245d.; fully
i2.i5d. middling. Rood; low mid
ding. ! .b0d; good ordinary, 10.70d.; ordl-
nary. f0.20d. Sales 5000 bales, including
. 200 American. Receipts 1900 bales, no
American. Futures closed steady.
The New York herald., 1922-05-31
DIVIDENDS AND INTEREsT.
~ MAIN pRoDI1'EES CORPORATION.

Denver Colorado, May - 1922.
Quarterly dividend No. ~ 20 cents per
share has been declared payable July l. 1929.
10 stockholders OF record at the close o.
business May 81. 1872.
l'lc transfer books do not close.
All communications regarding payment or
change Of address should be sent 20 Noun
tain Producers Corporation, Stock Depart
ment cor FIRST National Bank building, !.
Denver, Colorado, not later than May ~, .
ippe !. l.. WARREN. Treasurer.
The New York herald., 1922-05-31
NOTICE OF REDEMPTION OF e.-.-,
GENERAL ASPHALT COMPANY :

Eight Per Cent. Ten Year Sinking Fund
Convertible Gold lsOnds. Dated December
l. 1920. and Called for Redemption ou-
June 4, 1922. n
NOTICE is HEREBY GIVEN That BaniS-
ers Trust Company, as Trustee under a cer-si
tain Trust Agreement with General Asphalt,
Company, dated December 1, 1920. has,
called for payment June ], 1922, at thoy
office OF Bankers Trust Company. 16 Wall
amount of bonds Of The above Issue al io5ss
OF the face value thereof. together with ac-.i
crued interest on such principal amount to
June !, 1922. The numbers Of the bonds.
which have been drawn by lot by the.
Trustee, and called for the purpose OF tho
Sinking Fund are as follows: ~
The New York herald., 1922-05-31
Tmn prI-NMAnN s ntDsoN CoMrANY.

quarterly dividend of TWO AND ONE
QUARTER t2hcs) PER CENT on the cap .
Ual sioei. OF this Company win be- paid at
tlie office ot tho Company, - Nassau street.
in this cify ON and after Tuesday. June 2p:s
1890. 60 Stockholders Of record az close of
business to-day
Nv order % the noa1 ~ Manarcrs.
The New York herald., 1922-05-31
NOTICE is hereby giuen as follorcs:

Detroit United Railway has called redemption June 1922
at the office OF Central Union
80 Broadway Manhattan, New City iO0H per
thereof
Dollars O0000 face value OF Notes serial
numbers OF the Notes be redeemed which
by the Trustee and which hereby called redemption
The New York herald., 1922-05-31

pany stock for twenty-one years, the
average rate being per cent. and on
the Union Electric stock for fifteen years
at an average of more than per cent.
The New York herald., 1922-05-31
DETROIT UNITED RAILWAY,
By A. A. GINGRAss. TreaSnre,

orders placed are moro than for hand
to mouth needs. Collections are i'm
proving, but failures show an increase
of las over the preceding week."
The New York herald., 1922-05-31
FOREIGN MARKETS.

LONDON. May 30.--Tradng was quiet. but
prices were easier on the Stock Exchange to-
day. Bar silver, 3GAd per ounce; bar gold
H2s. ID. money. per cent. Discount rates
Short bills 5-iGMfM per cent. month g
bills, 2% per cent; consols for money. 5TIk !:
British per cent. loan, 09ss British 4Is per
cent. loan, 90.
PARIS, May Jo.-prices were firm on the
Bourse to-day. Three per cent. routes, 81
francs so centlmes. Exchange on London, ~
francs A. ce1tmes. Dollar quoted at 10 francs
94n centimes.
The New York herald., 1922-05-31
Redemption Notice
HARRISBURG LIGHT AND
POWER COMPANY
Five Year Six Per Cent Gold Notes b

Five Year Six Per Cent Gold Notes
NOTICE is HEREBY GIVEN that tina
Harrisburg Light and Power Company, pur-
suant 10 the provisions of Article ., Section
~, OF its indenture % Commonwealth Trust
Company, as Trustee, dated December =,
first day OF june 1922, Thirty-seven Thou
sand Five Hundred Dollars 1881. 100000 or
is outstanding Five Year six Per Cent Gold
Notes, issued under said indenture, OF the
wit. Notes numbered i0i. 1OG 1l0, Ill
lis, l20, 12T l2s, 13i, li3, 1js l6i, lo2,
1853. 49, 176. III, $50. 1856. 194. 203, IA,
2ls. 232. 235. 23s. 253. "a and 265 OF the
Isl 100000 each and Notes numbered 2. 5.
-, %, 81, 40. Al. 81, so, &c, 73, IA. 70,
-, SO. 80 and 9J OF the denomination OF
Five Hundred Dollars (ss00.O0) each. by
the accrued interest thereon. TO said first
day OF June, 1922. In accordance with tho
provisions or said indenture. the above men
toned Notes viii be and become due and
the office Of the Commonwealth Trust Com
pany, 222 Market Street IN the City OF
Harrisburg, Pa, at par and accrued interest
thereon TO such date, and that from and
after said GATE interest on the. above mem
toned Notes shall cease and said Notes
shall be deemed 10 be paid and discharged
and not outstanding for any OF the pur-
poses or entitled 10 any OF the benefits or
said indenture. The holders OF said Notes
are hereby required TO present the Same for
redemption and payment on said date at said
office OF the Commonwealth Trust Conn
rany accompanied by all coupons maturing
after said date.
Federal Income Tax certificates with-
respect TO the accrued interest must be fur
nished.
BY order of the Board OF Directors.
II. W. STONE. Secretary.
Dated April 20, 1922.
The New York herald., 1922-05-31
THE YALE & TOWNE MFG. co.

Dividend No. li0.
4 dividend. 80. aiG, ~ lltc per cent ta'e(s
has been declared bv the Board ~ Directors
out Of pagt earnings, payable july !, lV22.
10 stockholders OF record at tho close OF
business June IL, 1922
j.. n. Towne, socrstary.
The New York herald., 1922-05-31
NOTICE OF REDEMPTION OF
Detroit United Railway
Five Year TO Collateral Trust Gold Notes

Issued under Collateral Trust Indenture dated
April !, 1918, between Detroit United Railway and
Central Trust Company of New York, as Trustee.
The New York herald., 1922-05-31
PROPOSALS.

IS. ENGINEER OFFICE. Second District.
Room 6i6. Army Building, New York. ". y.
Sealed proposals VIII be received here until
L. NJ. June ~ 1872. AMI then opened. for
dredging in South River, y. J. Further iu-
formation on rpplication.
and most of The wheat brought here tnis
month has been from the Southwest ana
West No greater general cleanup or
wheat from Amcrican farms is said 20
have ever been witnessed at the end Of
n crop season..
The New York herald., 1922-05-31
and Bond TraderI

whose advertisements n the columns The
II ~ - aowil
The New York herald., 1922-05-31

THE Broadway National Bank OF BuffAls.
located at the City OF Buffalo. In the Stats
Of New York, IS closing its affairs. All nots
holders and other creditors OF the Rssocfa-
ton are. therefore, hereby notified 20 pre-
rent tho notes and other claims for psyms1r
Dated January 20. 1872
JOHES A. SfACHOWIAK. Cashier.
THE Amherst National Bank OF Bdftals.
located at the City OF Buffalo. In the STATE
OF New York. Is closing It's affairs. All
note holders and other creditors OF the sl-
iociRtion are. therefore. hereby notified ts
present the notes and other claims for paT-
uent.
DATED January 20. 1922.
The New York herald., 1922-05-31
Dated New York. N Y. May I, 1922.
THE EQUITABLE TRUST COMPANY
OF NEW YORK.
By LYMAN RHOADES. Yice-Presldert.
THE UNION BAG AND PAPER COMPANY ,
First Mortgage Five Per Cent. Gold Bonds. I

IlfE lNiON BAG AND PAFER COMPANY ,
First Mortgage Five Per Cent. Gold Bonds.
The holders Of the First Mortgage Flvs
Per Cent Gold Bonds OF the Union Bag and
Paper Company. secured by a mortgage 10
The Trust Company OF America, as Trustee,
dated June 2Sth. 1905, are hereby notified
that Union Bag G. Paper Corporation. the
successor by consolidation OF The Union Bag
and Paper Company, elects 70 pay and re-
deem on the first day OF July, 1922, all OF
the bonds secured by said mortgage now
outstanding, by paying 10 The Equitable
Trust Company OF New York. the successor
by merger of The Trust Company OF Amer
ica. as Trustee OF said mortgage, for said
bondhoders. the accrued interest on all such
bonds and one hundred and five per cent. OF
the principal OF all OF such bonds, ard hereby
declares all OF such bonds 20 become and bo-
due and payable the first day OF July.
1922. Such bonds VIII after the last named
date draw no interest, and will cease to bs
entitled 10 the benefits OF said mortgage, and
the lien thereof win be released. Bonds ana
coupons may be presented for payment 20
The Equitable Trust Company OF New York,
81 Wall Street. New York City.
CHARLES y. SANDERS. Secretary.
The New York herald., 1922-05-31
REDEMPTION NOTICE.
Chicago and Western Indiana RaiIroai Co.
GENERAL MORTGAGE BONDS.
Trustees Office, Room 3e 18th Floor, Mills
Building.

Now YORK, May ., 1U-4.
The Trustees have this day designated. BY
The New York herald., 1922-05-31
One Hundred DoIlar Eond

Unf IfunUTtu DO1Ihr EOnH~.
A-G3 A-2S5 A-73t A-o23 A-140s A-f5I3s
A-97 A-50i A-74t A-10i7 A-14is A-160i
A-9S A-64S A-767 A-1029 A-1A30
A-1g4 A-7O6 A-sl0 A-l222 A-1i5S
Holders OF the bonds above specified are
hereby required 10 presedt the same for
payment on said first day OF june. 1922. at
said office of Bankers Trust Company, No..
16 Wall Street, New York City, after which,
date interest VIII cease TO be payable there
on. All bonds so presented must be in
negotiable form. bearing the coupon dre
June /, 1922. and all subsequent coupons
attached.
Dated. May II. 1922.
BANKERS TRUST COMPANY. rs Trustee.
RY IL i. Nllaon. Ir- Nice-Dresiden.. =.
The New York herald., 1922-05-31


OF 1921 and to the Holders of Interim
Certificates, eXchangeable for bonds Of,
said Issue:
The Equitable Tr,isr Company of New
York, as Fiscal Agent under Agreement
OF Fiscal Agency dated as OF June l., 1921,
made behalf OF the Republic Of Santo
Domiago. hereby gives notice that there has
been deposited with IL a sufficient to
redeem at one Hundred and Five Per Cent.
NOSs6) OF the principal amount, plus ac-
crued interest 20 June /, p22, all Of the
outstanding Dominican Eep19lic -Four Year
Eight Per Cent. Customs Administration
Sinking Fund Bond Issue OF 1921. issued
under the above Agreement OF Fiscal
Agency. aud that all of said Issue is hereby
called for redemption June 1, 1922. at
One Hundred and Five Per Cent. GoJes) Of
the principal amount. plus accrued Interest
10 June l. 1922
Upon presentation and surrender OF said
bonds (with all unmatured coupons) and
said Interim Certificates, on or after June
/, 1922, Mt the principal office OF the UNDER
signed, No. 81 Wall Street. New York City.
the amount received on account OF ths
outstanding bonds and the amount received
Interim Certificates are exchangeable Will
be paid respectively 10 the holders OF ths
outstanding bonds and 10 the holders Of
said Interim Certificates.
Interest on said outstanding bonds and
on bonds for which Interim Certificates
are excnangeable Will cease 10 accrue on
Jur.e I. 1922.
Dated New York. n. Y. May I, 1922.
THE EQUITABLE TRUST COMPANY r
OF NEW YORK,
Ry LYMAN RHOADE,s. Vice. President. 4
The New York herald., 1922-05-31
TO THE HOLDERS OF Bor;Ds OF
DOMINICAN REPUBLIC

-Four Year Eight Per Cent. Customs Ad.,.
rninistration Sinking Fund Bond Issue
OF 1921 and to the Holders of Interim
Certificates, exchangeable for bonds Of,