davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-09-03
Market Comment.

"The foreign political situation is i'm
proved and this promises TO improve
still further. We think good stocks are
a. purchase. Block, Maloney & Co.
I'VE adhere to our bulish position and
believe that much higher prices ar +,
warranted on account of the outlook for
business expansion. Money conditions
are satisfactory and labor troubles are
In fair way TO be settled"-A. :.
Johnson & Co. BUY only the high
grade stocks showing good earnings and
leave the so-called cats and dogs
alone."-Prince & Whitley. ''The pres
ent bull market is not attended by ex.
pansion OF Industrial loans, and while
loans on Stock Exchange collateral are
relatively high we are of the opinion
that they do not approximate the dan
ger mark. We continue to favor rails
and such industrials which can show
abnormal profits due to inventory appre
citation. ."-Noyes q jackson.
THE industrial situation is SO ir-
regular that all stocks cannot be
expected to show buoyancy. There
are indications that some OF the
weaker trade positions win gradu-
ally show more important recoveries and
this will provide sound foundation for
constructive market operations in issues
which have been comparatively dormant
during recent weeks. In view Of the
impetus of the upward trend. the eas
In money and the Improvement In in
trinsic values we believe that purchaser
OF sound stocks on favorable opportun-
ties should continue TO yield satisfac-
tory fits."-Palne, Webber & Co.
I'VE believe higher levels will prevail
during September, but the situa ton ut
the moment favors a good reaction all
around. y. s. Bache q Co. THE labor
situation seems definitely to have
reached a turning point When such
barometric Industry as steel voluntaril
raises wages. apparently such action
gives recognition to n prospective labor
shortage. rising margins OF profit and
Increasing living costs. which movement
has been worldwide of late. In othe'
words labor defiation Is for the present
evidently at an nd."--Hemphill, Noyes
& Co.
The New York herald., 1922-09-03
ARGENTINA PLANS LOAN
FROM BANKERS HERE
Amount $3.50, 900, 600, issued
at 81, to Run 20 Years.

BUENos AIRES, Sept. . ASSOCIATED
Press) According to the Nacionr the
Ministry OF Finance was not willing to
give out any information concerning the
proposed Argentine loan in the United
States. although no denial was made
that the negotiations had reached the
final stage.
From other sources the Ndcion says
II learns that a bill authorizing the loan
already has been prepared and that II
will be sent to Congress as soon as the
negotiations with the American bankers
are completed. The newspaper adds
that II understands that the amount OF
the loan will be s2oo.oOoooo and that
It will be issued at 81 per cent. will
carry 8 u per cent. interest and run for
twenty years.
The New York herald., 1922-09-03
Bank clearings Increase.

According to the Commercial aud FL
nanciaI Chronicle bank clearings
throughout the country for the week
ended September reached total OF
Sc. .466. .s67 ,450, an increase of S.S per
cent. over the 5.942.SS1,615 level re-
corded for the corresponding week of last
year. This makes the twenty-third con-
secutive week during which clearings
have been in excess of the totals for last
year. The largest gain of the week oc-
Cured i'm the case of Baltimore. the total
being $69,44S,s05. compared with S52,-
5,O77 last year. gain of 1922 per cent.
The greatest decline. 20.2 per cent, was
noted In the case of Kansas City, the
weeks level being S99,714,226. compared
with s125000, 900 in 1921. In New York
clearings amounted to s3.1o0.400,0Oo. an
increase of 13 per cent. over the s2.743,-
100. 900 recorded in the corresponding
week of the previous year.
The New York herald., 1922-09-03
Freight Car Inquiries.

Inquiries are in the market for 1000
55 ton steel hopper cars from the Bal
timore and Ohio and for $50 of the same
type from the Belt Railway of Chicago,
according to RG4llcdy Age. The 81.
Louis-San Francisco Railroad Is seek
ing bids on 500 hopper cars of 30 tons
capacity. 1t is reported that the Long
Island Is seeking bids on six locomo-
tives suitable either for heavy passen-
ger traffic in the summer or freight SER
vice In the winter. The total amount
of new business reported during the
week Is not large as compared with re-
cent commitments but equipment man
ufacturers are confident that business
in volume will develop as a result OF
the harder service forced on rolling
stock through a tie up of shop forces.
The New York herald., 1922-09-03
wilIys-OverIand Earnings.

The profits of WHY'S Overland in the
three months ended on August 81 aver
aged about 81, 900. 900 monthly and the
profits of August alone reached S1,500.-
900. according to interests closely identi-
fled with the company. The management
plans to remain out of the price war
and to bring out an improved product
around November l. Liquidation of
the companys s16,000.O00 debt is
expected to be accomplished without
interference with current profits through
the formation of real estate company
to take over branches valued at about
s16.oo0,ooo and gradually dispose OF
those properties.
The New York herald., 1922-09-03
Northern Pacific Certificates.

Bankers associated with recent North
ern Pacific financing do not expect that
there will be an offering of the $4,5O0,OoO
equipment trust certificates authorized
by the Interstate Commerce Commits
sion. application for which was an
announced several weeks ago., The GER
tificates were authorized to cover recens
purchases by the company of about
5000 freight cars and 10 passenger train
refrigerator cars More recent applica-
tions made to the commission by rail-
road companies include a petition for
authorization of the s12,55s,500 6k per
cent cumulative convertible preferred
stock of Chesapeake and Ohio; applica-
tion by the Nickel Plate for authority
to assume obligation and liability for
$4,000, 900 equipment trust certificates to
be issued by the Union Trust Company
an dby Chicago. Indianapolis and Louis
Vile in respect Of $725,0oo equipments
issued by the New York Trust Company
The New York herald., 1922-09-03
FINANCIAL NEWS
AND COMMENT
Pre- Holiday Profit Taking
Carries Stock Prices to
Lower Levels.

In the few hours that were devoted to
business In Wall Street yesterday little
of interest transpired. The cotton and
the coffee and sugar exchanges were
closed and trading in stocks and bonds
was reduced to minimum. Transac-
tions In stocks were made mostly at lower
prices. although a number of industrial
specialties enjoyed rather sharp adj
vances. In the absence Of many brokers
from the floor as result of the ap-
preaching holiday price movements were
hardly significant.
Selling in stocks was nothing more
than beiated profit taking. There were
no fresh news Developments to inspire
activities on either side of the market.
The threat of the American Federation
of Labor to call general strike passed
practically unnoticed and could not have
been called market factor
Losses in the industrials were In the
majority of cases restricted to those
stocks which have advanced rapidly in
rhe last few days. American Radiator
was weak, losing more than 2 points. and
a decline Of ~ points was recorded by
Cluett-Pea body. Other industrials clos
ing below Fridays price levels were
American Car & Foundry. Burns Bros.
preferred. Pullman. Refs & Co., Amer
lean Tobacco and American Sumatra
Tobacco.
Mexican Petroleum was about the
most active stock on the list, fiuctuating
between 191 and 1876. Most of the
other oils closed lower. On the other
hand. du Pont displayed unusual strength
and advanced 31a points to 14Sh, and
American Brake Shoe & Foundry pre-
ferred gained IL points. An advance
Of points was made by Chicago Pneu-
matte Tool and 5 u points by American
Snuff. Other Industrial stocks which
showed improvement were WHY'S Over
land preferred and Savage Arms. both
OF which added more than points to
their prices.
Trading In railroad stocks was un-
interesting except for fairly severe
QeCllneS III SnlCdEO q EdSlcTn 1uiHOlS
and Illinois Central. In the foreign ex-
change market slight irregularity pre-
vailed. but the trend of sterling. marks
and the continental exchanges appeared
to be toward higher levels. The grain
market was inclined to heaviness.
Wall Street men left the city for the
holidays confident that a basis existed
for real peace between the labor unions
and mine operators and it was fully
expected that the anthracite strike
would be over before the opening Of
the stock market on Tuesday. The
railroad shopmen's strike was also con-
sidered as good as broken. With the
labor troubles out Of the way and the
reparations question sidetracked for
another six months It was thought that
the stock market would be in position
next week to continue to reflect more
adequately the many encouraging fea-
lures in the business outlook.
The New York herald., 1922-09-03
TOPICS OF WALL STREET.
Mafntenance Mems wages.

Reports from Chicago to the effect
that the railroad labor board was in
clined to a decision which would add 3
cents an hour to the going rate of pay
for maintenance of way workers were
greeted yesterday in the financial district
with mixed feelings. Comment by execu-
tives revealed the opinion that an in
crease probably would be granted. in
view of the recent advances to day labor
in the steel plants throughout the coun-
try 1t Is as yet too early to predict the
outcome OF the hearings. executives as
sert, although a slight advance such as
was suggested yesterday is considered
likely. The increase reported as forth
coming would raise the level of pay to
track laborers to range of between 26
and 3S cents an hour
The New York herald., 1922-09-03
ELECTIONS AND MEETINGS.
NOTICE OF SPECIAL
STOCKHOLDERS MEETINGS OF
The Bank of NelU York
New York, August u, III
To the Stockholders Of
THE BANK OF NEW YORK:

New York, August u. 1DA
To the Stockholders of
THE BANK OF NEW YORK:
L. A special meeting of the stockholders Of
The Bank of New York will be held at the
office of the bank, As Wall Street. New York
City, on September Z. 1922. at ten O'Clock
A. NJ. for the purpose of voting upon an
agreement made between The Bank Of New
York and New York Life Insurance and Trust
Company, pursuant to the Banking Law Of
the State of New York, for the merger of
The Bank of New York into New York Life
Insurance and Trust Company. to be known
thereafter as Bank OF New York and Trust
Company.
2. A special meeting of the stockholders of
The Bank of New York will be held at the
office of the bank. 4S Wall Street. New York
City. on September Z 1922 at eleven o'clock
A. NJ, for the purpose of authorizing the in
crease of the capital stock of The Bank of
New York. from Two Million Dollars ($2. 000.-
0O0). the present authorized amount consist
ing OF Twenty Thousand (20.000) shares of
the par value OF One Hundred Dollars ($100)
each. to Two Million Five Hundred Thousand
Dollars tS2.500.000), consisting of Twenty
five Thousand (25.O0O) shares of the par
value of One Hundred Dollars ($1O0) each.
The transfer books of The Bank of New
York viii be closed at the close of business
September ., 1922. and re-opened at the
opening of business September 8, 1922.
BY order of the Board of Directors.
HERBERT l.. GRIGGS,
President.
FREDERICK O. METZ, JR..
The New York herald., 1922-09-03
N. Y. STOCK EXCHANGE NEWS.
New Partnerships.


Faber. Garvin & Co.. September l. 1922.
Faber. Geo. X. Garvin. Donald Dunnet and
Chas. +. Bante.
Charles Sincere a Co.. September 1, 1922,
Chicago, Ill.-Charles Sincere and r. Town
send McKeever.
Changes In Firms.
Harbour & co.--John NJ Miller. retired. ef-
fective August 81. 1922.
j. NJ Byrne & Co-John NJ. Miller. ad-
mitted. effective September /, 1922
Hartman & COG. B. Chapman. admitted.
effective September 1. 1922.
Newhall. Gross Observation-Disclosures
1922. A' ''' Ss''' :
Benjamin West Frazier. retired. effective
August 81, 1922.
Branch Omces.
James E. Bennett Co.. (new), Gibson
civ. Iii.-H. b. Lichtenberger, manager.
Hardy, Dana & Co.. (new). Lynchburg.
Vs-E. NJ. Harris. manager
g. r. Holzderber a. Co., (new). Brooklyn,
y. Y, 1880 Broadway MARTIN +. Brod-
crick. manager.
tinued.
James E. Bennett a Co.. Litchfield, NJ
Discontinued.
James f. Bennett Co.. salina. Kansas
Gruntal LilenthaI Co., Saratoga
Springs, ". Y-Discontinued.
III. l.. Horton & Co., Saratoga Springs. N
Y.-Discontinued.
Arthur Upper & Co.. Saratoga Springs.
- Y.-Discontfnued.
Livingston q Co.. Montreal. canada--Dis-
continued
Y swartwout AppenzeIlar. pixviie Notch.
Thompson McKinnon, Lynchburg. Va
Discontinued.
The New York herald., 1922-09-03
DIsILLUsIoN NOTICES.

STATE or NEW YORK, OFFICE OF THE
SECRETARY OF STATE, ss.:
This certificate, issued in duplicate. hereby
certifies that The New York Mutual Gas
Light Company. domestic stock corpora
tion, has filed In this office. on this 31st
day of August 1922, papers for the volun-
tary dissolution of such corporation under
section POI of the General Corporation Law.
and that IL appears therefrom that such
corporation has complied with such section
In order to be dissolved
Witness my hand and the seal OF office
OF the Secretary of State, at the City
of Albany. this thirty-first day Of
August, one thousand nine hundred
and twenty-five.
TSigned1 G. w. TAFT.
Second Deputy Secretary of State.
The New York herald., 1922-09-03
sI2.nns.ooo mil Issue.

WASHINGTON, Sept Am applica-
tion for authority to issue s12.55s.000 in
6i5 per cent. preferred stock was filed
to-day with the Interstate Commerce
Commission by the Chesapeake Ohio
Railroad. The railroad purposes to sell
the new issue at par, the application
said. and to use the funds for making
general additions and bottermcnts TO It's
lines.
The New York herald., 1922-09-03
Good Outlook for Bonds.

Leaders in the bond houses here ex-
pect increased activity in the way of
new offerings soon after the holiday.
They base their opinion on the knowl-
edge that there Is a considerable vol
ume of new business under negotiation
at present. The largest item is the $780,
00O, 900 Argentine loan details Of which
have not as yet ben put into final form.
Some industrial business is also ex-
pected. Railroad equipment financing is
believed to be more remote, as is the
$50, ,000,0 900 loan to Cuba
The New York herald., 1922-09-03
Mathieson AIkaIi Dividend.

At meeting of directors of the
Mathieson Alkali Works. Inc. no action
was taken with respect to declaration of
a dividend on the common stock. The
usual quarterly disbursement of ~ per
cent. on the preferred stock was de-
clared payable October to stockhold-
ers OF record September 20.
The New York herald., 1922-09-03
RESIGNS FROM GRAND TRUNK.

Special Dispatch 10 THE New York HERALD.
MONTREAL Sept 2.--The resignation
is announced Of Frank Scott. vice-presi-
dent and treasurer OF the Grand Trunk
Railway System. In letter submitted
to the board OF directors Mr.. Scott
asked to be relieved from office. In ac-
cepting the resignation the Board ex-
pressed appreciation OF the services
The New York herald., 1922-09-03
EX DIVIDEND TABLE.
DIVIDENDS.

Books Pay
Close. able.
la, si............. .............s Sept. 20 Oct. 20
swift Co, q, w. .......... Sept. Oct. /
2. iHsS.. ,:.,:..::. ..... Sept. Is Oct. :
.. iNss.. ...........: Sept. 20 Oct. .
N. ", Lackawanna & West.
Rwy. Co, q, 81 25........ Sept. 15 Oct .
Amer. Public Service Co, a.
NJ. Si.Ta................. Sept. IS Oct. .
y. v. Life Insurance Trust.
900. Payable In stock. Sept Is
The New York herald., 1922-09-03
FINANCIAL NOTES.

The New York Curb market membership
OF Claude w. Peters has been sold 70
Edward f. Richards for S. 900. This price
Is unchanged from the last previous sale.
G. p. Holzderber q Co. have issued
circular discussing the coal situation In
relation 10 It's effect upon selected group
OF oil and electric power companies.
The New York herald., 1922-09-03
EMPIRE STEEL RAISES WAGES.

SYDNEY, ". s.. Sept. 1.-THE British
Empire Steel Corporation. the largest
manufacture of steel products in Can
ada. announced the award Of a 10 per
cent. increase In wages for all Its
employees.
The New York herald., 1922-09-03
TO THE HOLDERS OF
City of Rio de Janeiro
Six Per Cent. Serial External
Seeurxd Gold Rouds of 1910.


The Municipality of the City of Rio de-
Janeiro pursuant to the terms of the Trust
and Fiscal Agency Agreement dated May 26
1919. between the said Municipality and The
Equitable Trust Company of New York as
Trustee. hereby gives notice that all bonds
issued under said Trust and Fiscal Agency
Agreement have been called for payment At
the office of Tne Equitable Trust Company
of New York, Trustee. No. 81 Wall Street.
New York City, N. Y. on November /. 1892,
at the principal amount of said bonds and
the interest accrued thereon to said date.
At or after November I. 1922, the holder
or holders of said bonds shall surrender tfs
same to the Trustee with the coupons ma
turing upon such date and those maturing
thereafter. and receive therefor the pr4nct-
pal of said bonds with accrued interest
thereon to November 1. 1922. From and
after said date all bonds shall cease to bear
interest and the coupons thereon sixbqeQ0ent
to said date shall become null ana void.
September .. 1922.
THE MUNICIPALITY OF THE
CITY OF RIO DE JANEIRO.
BY DR.. CARLOS 6A1dPAIO,
Prefect of the Federal District of tho Re-
public of United States of Brazil.
HELLO LOBO, Consul General for BEaxfl.
The New York herald., 1922-09-03
Ref inancing

Financial Institution with a high grade
selling organization Is ready to furnish
capital to established corporations who
are desirous of developing their business.
Give full details, also number of share
holders. Address i. L., SIS Herald, $50
Broadway. N. Y.
The New York herald., 1922-09-03
FAR EAST.
SOUTH AMERICA.
CANADIAN EXCHANGE

New York funds in Montreal, 3ic. premium
per Al 600; Montreal funds In New York, sic.
discount per $1,000.
The New York herald., 1922-09-03

rendered to the company by Mr.. Scott
during his long association with the
road
The New York herald., 1922-09-03
MONEY MARKET.
TINE LOANS.

TIME LOANS.
Mixed colIaterals, 60 days.
Mixed coiiaterals. 90 days. az
Induetrials, 60 days. s......................
Industrials, 30 days. s...................... ~
COMMERCIAL PAPER.
Hest names. to 9 months. ~
other names. 4 to months. s............. AZ
DISCOUNT RATE. RESERVE BANK.
Commercial paper. 10 days. 4; go to 90
days, 4: Liberty bonds and Victory notes, rs
days, q; 10 TO 90 days, 4: bankers accept
snccs. 10 to 90 days, 4.
OPEN MARKET RATE.
Call loans and acceptances. ..............4 .4es
Discount rates on prime bankers accept
ences eligible for purchase by Federal Re
serve banks:
Bid. Ask BID. Ask.
- days, Sh Z % DAYS. 3N
CLEARING HOUSE STATEMENT.
Clearing House exchanges. sst3. GOO. 600.
balances. se3 100 900; Eederai Reserve credit
balances, $44 900 600
SILVER MARKET.
official bar silver In New York. domestic
Npitr. or &c. foreign 70c. up sc. London
si1l.d. up I'D Mexican dollars. 53i<c.. up
Range OF silver prices this year.
Highest Lowest.
New York. 49,. 73Nn.. May - 53Ac.. Feb 2s
London ........37hd.. May 70 s2itd.. Feb. -
The New York herald., 1922-09-03
LONDON MARKET.

LONDON, Sept. 2.--Prices on the Stock Ex-
change tp-day follow:
Bar silver. 35Ad per ounce.
Bar gold. 92s. bd.
Money IN per cent.
Discount rates--Short and three months
bills. 2M per cent.
The New York herald., 1922-09-03

SCALED for payment at i03 Oct. 1. 1879.
tCalled sor payment at 1904 Sept. 15. 1917.
tCalled for payment at 102 Oct. 4. 1922.
The New York herald., 1922-09-03
FINANCE

A gentleman whose work in the
field of industrial engineering
brings him inside of many oppor-
tunities, offers a partnership to
one who is capable of raising or
supplying capital. Conservative
ly estimated, the profits will
average, from an immediate be-
ginning, over Sa5o,ooo year.
Robt. Service, 81 Wall Street,
New York. Telephone Bowling
Green 8727.
The New York herald., 1922-09-03
NEW YORK STOCK EXCHANGE QUOTATION
sAIURDAY EpTERE

1922. 1921. 1920.
176,560,451 113,000,30S 150,360. 1855 VI
The New York herald., 1922-09-03

stock elm stock ffart extra
c
werem a
The New York herald., 1922-09-03

1929.
DAYS sales Observation-Disclosures. .SS3153
The New York herald., 1922-09-03
UNITED STATES TREASURY STATEMENT.
Special Dispatch to THE NEW York HEnArp
New York Herald Bureau. |
Washington, u. c., Sept. 2. 4
Revenue receipts and expenditures as at .

Is Tor June reaching the Treasury july are included.
The Birmingham age-herald., 1922-01-25
FRESH FISH SALEA
 JACObS' MARKET
Consignment of Fresh Ocean
 Fish to Be Received Direct ~ By Fast Express

s Atwood, Jr., representing the Story-Simmons company of Boston, has made arrangements to put on sale at Jacobs market on Fourth avenue Thursday a solid car of fresh ocean fish. They will be sent to this city direct by fast express, requiring only A hours in transit. Among the kinds to be put on sale here are haddock, market cord, pollock (commonly known as the Boston blue fish), silver hake, cusk and founders.
 This Is new effort on the part of this concern to furnish this city with fresh ocean fish. shipped in thorough- ly cooled refrigerator cars. The com ing shipment Is not frozen, but direct from the water. As fresh fish is one of the cheapest, best and most pop ular meats on the market, 1t Is thought that further effort will be made to furnish Birmingham with & weekly shipment.
 The sale will begin Thursday morn ing at Jacobs market on Fourth ave- nue and will continue until the en- tire shipment has been disposed of
The Birmingham age-herald., 1922-01-25
HAVE BIG DINNER
 AT PIZITZ STORE
Fly sIIGNoN HALL

It was a big get-together dinner at Louis Pizitzs store last night.
 You'd have thought you had wan dered into fashionable club If you had happened to be present For everything was as daintily served and the table as prettily laid as heart could desire, all being arranged by the delft hands of the regular restau- ranteurs of the Pizitz store. The event was given on the fourth floor of the big establishment.
 Around the board were grouped buyers, managers and assistants men as we'll as women-and the pur- pose of the affair was to talk on business conditions and plans for the new year.
 and one of the cleverest and far sighted business men of this town. made friendly and entertaining, as well as purely business talk to the department heads and executives, anG J. Smolian, general manager, also had some things to say. The buyers, too, were called upon to talk, the din- ner party lasting from about 6:30 till 10 o'clock. Present also was John W. Anderson, the stores brilliant ad- vertising manager.
 The store and MT. Pizitz closed the past years business not only with pushing sales. but gave the spirit of cheer to the whole town with a sc- ries of chidren's Santa Claus parties that furnished hundreds of people lot of fun who otherwise might have found the holidays exceedingly dull. \
The Birmingham age-herald., 1922-01-25
JUNIORS |NDQRSE
 BOTH ROAD ISSUES.

Resolutions indorsing the $25,Ooo,. 0oo road bond issue of the state, the soldiers poll tax exemption and the resubmission by Jefferson county on a per cent basis of s3,000,O worth of county road improvement bonds remaining unsold from the original s5,ooo,ooo issue of February, 1920, carrying only per cent, were adopt ed by the Junior Chamber of Com merce yesterday.
 Endorsement of the county's pro- posed resubmission of the ss,oo0, 900 worth of bonds, s2,0oO.oOO to be used for road construction work and the remaining $1,00O, 900 to aid in retire ment of the county's floating debt, followed an address by Thomas E. Huey, member of the board, In which he explained the reasons for the resubmission and the purposes to which receipts from sale of the bonds will be devoted if authorized Im- possibility or disposing of county bonds carrying only per cent in- terest was given as the reason for the resubmission of the unsold por- tion of the original issue on a per cent basis,