davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-04-23
Investment for 100000

Qu.stion-W Quld he greatly Indebted to
YOU II You would answer me By mail what
nent investment for $50 600 would want
the interest TO he IS high as is possible
combined vIth safety. Thanking YOU IN
adVance.-Mrs ). S.
Answer-Appended hereto YOU will
find list of bonds and high Grade
stocks which we have selected with
view TO proper diversjhcation and rca-
sonable income return The total mar
ket value would be approximately
$50, ,000-S3, 600 Great Northern Rail
way 6}2s 1852 yielding b.13 pe- cent;
$4,000 Canadian Northern 612s. 1916,
yielding SIC per cent; $4,000 Hooking
Valley 4L2s, 1899, yielding SAP per
cent; $4,000 Atchison, Topeka & Santa
Fe adjustment IS, 1925, yielding 3 per
cent; $4,000 Oregon-W ashington Rail
road G. Navigation Is, 1861, yielding
Nashville first and rofunding 512s.
2003, yielding 534 per cent; $4,000
United Kingdom 5l4s, 1887. yielding
900 per cent; 81, 900 Swedish Govern
ment 6s. 1899, yielding $50 per cent;
$4,000 Kingdom OF the Netherlands IS,
| 1912, yielding 6.39 per cent: $4,000
City OF Copenhagen 5las, 1914, yielding
6.3S per cent; $4,000 Chicago Joint
Stock Land Bank 5s, 1851, yielding
| c!P-
phone and Telegraph collateral IS,
1915. yielding $50 per cent; $4,000
New York Edison 612s, 1941. yielding
5.95 per cent; $4,000 Montana Power
5s, l943, yielding 5.A2 per cent; $4,000
New York Telephone rcfunding 6s,
l941. yielding SIS per cent; $4,000
American Smelling and Refining 5s,
1947, yielding 5.84 per cent, $4,000
United States Steel IS, 1868, yielding
4.96 per cent; $4,000 United States
Rubber 5s, 1947, yielding COS per cent;
$4,000 General Electric IS, 1870, yield
ing 5.6l per cent; $4,000 Bush Ter
minal Buildings 5s, 1860, yielding 5.67
per cent; 25 shares American Ice Pre-
ferred, 20 shares United States Steel
preferred, 20 shares American Tele-
phone and Telegraph, 25 shares Ameri-
can Can preferred. If you need TAX ex-
emptionA YOU should also buy high
grade. inunicipals.
New-York tribune., 1922-04-23
Many Possibilities in This List

o,a..io A - -oo..- , ,-,.. ,,.t,......
snNSerj,t. ~ ,ynrth oT ,oi1r f1ardiai
column and Would like YOUR advico on
the following list of securities which con
sti' Ut ute my nfe,s savings bought mos
81 tnese Se'efat yehfs ato ~he eney "s,e
slxty-five Years of age ana anI about at
the end OF my earning capacity and viii
be dependent on the income OF these Sc
eurl'tFS 'oI id my sunpor Woul@ na IKE 10 10
sonethins son 0u, mor. ~h seouys any az about .' per
cent or Jls per cent interest The lsi
$1,000 each Liberty bonds third 41.s;
ssi'V00 each Liberty bonds. lour{h a ~, AZ
4rpo"r i,an,lr |nss e5GoV
5000 Facifc, Telephone s.. 81 6oo
New York Telephone 4'as; $1,000 United
states Huhber 5s. did have 10 Of United
Mi1 'eDpeF 'hs a o"Ho5 Gut Cn"fs70 19,a loT
n'aIe = mtsta,<cg '''' have seen YOU recon-
mend Rubber, but have no; seen you rec
ommend MidVale. also own the following
s['o.5: vV shares AtchiSon PFefeGre0 r.
ST ares Nv Y"rx CentraG oI2'' "a snar.s @s
Pacinc Oil: 50 shares L. 5. steei pre-
ferred; 30 shares Standard OH OF New
StaJard on and 'geH 70 sen - ,ne
preferred by a Boston bona house Do
you think this good Investment .
J. h B
Answer-There are scarcely any good
New-York tribune., 1922-04-23

IHe absence of dividend PAYMENTS
on TINS stock, however, does not ex-
plain in full your small income. A ma
terlal reason lies in the fact that YOU
are holding high-prccd and high grade
STANDARD Oh common stocks in a pc
nod Of curtailed earnings in the oil
industry The Atlantic Refining Com
pany, the Standard OIL Of Indiana and
.he Ohio on Company have paid sub
stantlAlly higher dividends in the past
and VIC thiH~> it is safe to assume that
they will do 80 again at some time in
the future. When that time will come
we have no means Of knowing.
On the basis OF present market prices
and dividends Standard Oil Of Indiana
returns as PEI cent; Ohio Oil rcturns
only 3.S per cent. We can put your
case down in g few words You have
YOUR money in the wrong class of Sc
curities- stocks which give a handsome
return at one end Of business cycle
and an inadequate return at the other
end. Wealthy men hold the Standard
OH stocks because they do not use all
their income for personal expenses and
can average on the good and bad pc
riods in this industry.
What you need is constant and in
variable income. You should hold
either bonds Of good grade or stocks
New-York tribune., 1922-04-23

of corporations engaged in a business
more stable than oil.
Our idea Of q stable industry is cx-
ompllfled in American Telephone and
Telegraph and in the larger and we'll
founded light and power companies.
American telephone stock is suitable
Tor your purpose. SO are Montana
Power preferred, selling around 104
and paying 6 per cent dividend:
Public Service Corporation Of New
Jersey 5a, due 1869. yielding about 6.l
per cent; New York Edison Gas, due
1871, yielding about 5.8 per cent and
Westinghouse Electric preferred, sell
ing. around 50 and paying a per cent
dividend.
You might also consider Canadian
Northern Is, due 1910, and selling re-
Gently to yield about 8 per cent
In tockling the problem Of disposing
Of stocks not suited to your purpose
you should consider not only the one
issue which has ceased to paw div
idend and therefore shows YOU sub
stantial loss. but also those issue-
which do not give you an adequate re
turn when stripped of the extra div
idend usually paid in times of
prosperity.
New-York tribune., 1922-04-23
Asks Opinion on Exchange

Question: havc sold n los and accrued
ihteres' pcr cent bonds OF the Province
OF ontario, Canada. bought et 90 and
crued interest tow months ago. With tho
proceeds of tho snle ! have invested in
Grand TRUNK per cent bondr due scptem-
per L. 1870. paying ioin for tho latter
AS the Grand TRUNK bonds arc guaranteed
a. to both principal and interest by the
dominion OF Canada, / do not sse that
nave sacrificed any security. but have
what Ia equivalent to a bond OF tho Do
'nlnlon. Is this not So | viii br inter
ested in having your comments on the
ahoVa exchange and to know whether or
not II has your approval.~-L. l.. II.
Answcr-The Province of Ontario 6
per cent bond which you disposed Of
is high grade. investment, but in
making the exchange for Grand Trunk
SIS you did not sacrifice safety to any
great extent. The latter issue has what
amounts to guaranty by the Domin~
ION government and we think justifca-
tlon can be found for the exchange.
New-York tribune., 1922-04-23
Oil Company an Orphan

0uast,on-As reader OF your paper
-, h.,n ,rn throurh your investmpnt dc
,,,to,ert .houf ono and oue-halt years
aro vas inveigled into buying several
hundred shores Of Edmonds OIL and Re
dining ('orporation because it paid per
cont mnnlhlv on 100 shares Mt tho rate OF
$3.50 Tor 100 shares. [ hought the stock
through Mclhulsh & Co, OF ~ Wall street
condition Of th, company. This firm con
tlnually w~ote lctt-rs or tn" ""Nd"rf"l
advantage Of buying Edmonds Oil until
If had thousands NJ buyers. / UNDERSTAND
During or about the month of November
had a letter from Molhuish & Co. saying
that they had sold tho whole Ednonds
oil and Refining Corporation to the Asso-
cintpd Producing and Refining Corporation
OF 81 Louia but ii was Of such an advan-
tage to stockholders that the deal had to
be closed quickly and not ono etocthoider
was consulted. as far as know Those
knew were very much against this deai at
the start, they wanted Edmonds Oil st
werc evidently pOWerless In January,
Melhuish & co. sent out letters asking Tor
tho bonds were issued and that money was
sent Then in February comes letter
from Melhuish & Co. saying that tho 81.
louis CORPORATION vas nov so,Hs Ms,,ui.h 10 nv
~ ~ W %as s"inp TO- inter Ia awsuit The St,
Lout. corporation writes letters saying
that they were deceived on 10 points which
were gwen 10 me !sa.er a"o WInt,.'s ,hs;, , ~
A letter cam. from Melhuish's office Cd
visInx no one to. accept the stock back
We reGeiv@ letters hrst from one s SIDE, p men
p shaw ave s, onjs ,wvcr i'o.,t evd.ntIv
indep-ndent o. either company, wanting
to take the individual cases and get our
money back II p"Ss!oie but ne vas 10 re-
t'r wa, Eno,I. 81, n,isrts hoN ,Tbern h,,
been some kind Of company former
called "Edmonds Stockholders Protective
Comm'' ''tee' at @@S hroa9way' lnaa Anout
,nr tn, - r"r Zach 100 shares Won own 70
help protect your interests | haven't had
time to attend to II, 80 few days ago
amother I",1'r G"me M sayims tha1 M ,y my m IN
D,v the > ner cent cen II the lawsuit
was won ! want advice very much. as
know 70 New York LAWYER and under
sIanu ,I, 'For" 'n' Ie'ners InAt nave LOS,
shares wins II do pav - have a nossibl.
chance. THAT money represents all my
savings and J am school teacher and
q" Snni;.T 10 'ose II, even 'nUuEh & l nhoW n
pay so more 70 recover NV 81 900?
have all the letters written by the com
nsnies md win willingly help you furthe:
Il you want INFORM at'oh'---M' T.
Answer The Edmonds Oil and Re-
hnlng Corporation may be compared to
an orphan at present. Apparently
neither the Stockholders nor the As
soclated PRODUCING and Refining Cor
poraton wants it. An attempt is being
made through the united States Dis
tr'ct Court having Jurisdiction in Della
ware to compel the Associated tO carry
New-York tribune., 1922-04-23
Booth Fisheries War Room

o,'l lio" regarding Booth Ft.hcrles ur-forr,,i
s,'.N- nav" a quantity Of this. p,lr-
.I,AAeu IN l'lN- 1t has deprecated SOM.
III" and they have passed their dividend
". 'io last two wear. ANY inrorrnafton
you haVa on THIS issue Win be apprc-
ciated.-r. G. X. FF
Answcr-Thc trouble with Booth
Fisheries stock is that so many rer-
sons took the excessive ard abnormal
earnings of the years 1916, 1911 and
1918 as a fair indication Of the COM
pany,s normal earning power. During
the last two years the company has
been suffering from the natural reqc-
tlon that came to most. corporations
which extended themselves during the
wa PERIOD. Ihe government was u1cpar-
ing tor long wa; and most Of the men
VINO occupied the trenches will swear
that the war was fought on canned sal
mon, AS result Of these preparations
tne company profted immensely, but
when the whole thing was over the
government had storehouses full Of
canned salmon, which was brought out
on the market at ruinous prices. pre-
venting the booth Fisheries Company
from lquidatin. its own inventorics.
AS q result the company operated at
only small percentage Of CAPACITY
!ast year, percentage too small to
permit Of profit Probably the COM
pany Will find its proper peace balance.
But we are not prepared to venture a
guess as to when that will be accom-
pNshed
New-York tribune., 1922-04-23
Two Bonds Suitable

0nas-'o---WouId apnreciate vour ADVICE
and opinion as 70 the safety of the fol
lowing securities; At The prssent time M
am me ho.oeF oa 1|o s1,SVv vnaIa,on !'n
cnnt p'sm note due fS27 and one $1,000 Utah
securities Corporation s per cent note.
due september lS22 also one si,Vov Amer-
ican ower , ana uasnr ssnre5 ratd bond ux.
M. XIV iq41 would YOU consider these
Securities a high grade Investment? Please
susgept hrst-clafs bond to yield about
81 to PER ce1t d@6 d@G an CO.. @s
,dt wisn on 40 ne M pcr ceDt mote as II Is 20 neax
due. Would you advise buying the fol-
lowing cunu!atiXe prsfer.eu stoeHs. E!ee St
lfl' ti',sh i'"T" .T'r,inai T.tu Buiidng Company
er cent or bethlehem per cent or the
American Telegraph and Telephone per
cent STOCK AT tmTir m sesenl aonn safe invest
,nsI, ouiu or az least reasona6iy safe? The
war being over" DO YOU consider the Beth
New-York tribune., 1922-04-23
ShOrt-Term Bonds Suitable

ouestlon--Wil you kindly advise me II I
oodld COZ ostser my h9ldinss Uisted below,
principal Investments are in real estate
hnd must have securities that sell read
NY. 80 as to use the money for a real
estate purchase when bargain is offered
sI@o@ s. 600 s due 1s: 1929 Western EIeetrlo ~
1928: American T'clsphone ana ToI.sronh
oa, s. 900, due 1874, Treasury cert ifcate.
A9-s 5000. due 1924; TREASURY certificates
Department Of Setne Is 900. 1870; FRA
merican l. r; 7As. S. 900. due 1887 or
cent as possible consistent with wnat lou
generally call business mans invest
nent I haze in mind American Woo!en
per cent. 1898; AIurninum Company Of
america pr cent. 1898; Swift; & Go. Z
n en, ,93i, ,o%i IN In pTefecenee 70 hgyins
mortgages, on real estate / own fo. in
stance Savings bank mortgages at 5ls
per cont and Tide Company mortgages al
per cent? My mortgsges average Is psr
cont Of city assessed valuation Holdincs
are business property.-M. NJ q.
Answer-Ihe retirement Of mort
cages would seem to be the most log
zeal thing for you to do, except that
IN dong so You would not be in a
posltion to carry on your real estate
operations. There is also one ether
objection to paying off the mortgages
on your property and you us a real
estate man must be as we'll aware Of
It as we are. That is the compare
lively easier task OF selling real estate
that has a mortgage on it. After look
ing over your list OF bond holdings we
must confess that we can see little
chance OF bettering your investment ns
8 whole. II you were an ordinary per
mament investor We would say that
you have too many short term securi-
ties, but inasmuch as ready market
ability is the first consideration the
list seems 10 be the best you could
plan. The three bonds and the Ameri-
can Woolen preferred stock are suit
able for your purpose, in our opinion.
New-York tribune., 1922-04-23
Wrong Stocks for Adeulate Yield

o' 20 oHc up TOO much rnl,ob ir7y
'' 0'' I" Whdt rare to ask udo
"o"ca' assistance odrjce In 1renvfv shares Of
coN iNd preferred at $50. No
0fc Atlantic R'nng bought s1O0O oiqh shares Of the same
od 6ught at $780, Hove tentufre Western Union
'ce"y Shares Of Ohio OU 5uduo
on can o'@'U that the
S'" as hare no adding my J1oud non odric
"9 '"e''co@ l'nsced and buVug
fQoP nat obo"t the Ohio oil? to make such
F on 'hr ohio Liseod? What prospects for
''9 ""'" hfo more
mac" appreciate odrice, rh doy ndly oireu
0"e "cn Tobacco ycding good what about
Eccr3c Lght?lrs VI. ".
s"e-"e lgure that market value Of
u' Fl compared with initial s772 The annual return
"lNIoeho rates Is $3.50, tho Of
OASIS OF present market values You substantially larger
return on your Leave Union common and Atlantic
P'eeeo stocks out Of consideration
' STOCKS tor you to hold and you handsome profit
a" You need income you can afford to
Hoid the American Lnseed preferred stock ~ ~ w
New-York tribune., 1922-04-23
Days NetU Issues

Norey & Co. are offering a new is
Tae T.e OF S83o,000 City of Breckenridge
~ per cent street Improvement
ssuaas, due l933-1962, at prices to yield
ron Tr o,625 to 6 per cent
6. Wood Gundy & Co. are offering at
70 and interest yielding nearly $50
per cent, $4,000 900 City Of Edmonton.
aaoerta. Canada, twenty-five year 512
per cent refunding bonds.
n NJ Grant & Co. and Paine. Wei
50 Ses & CO. are offering a new issue a
,ooOo0 Des Moines. Iowa, Az per cee
Cnooi district bonds, due 1912, at 104
s.r. smu interest, TO yield about 42O per
New-York tribune., 1922-04-23
Loss in Northern Pacific

Question: am very much interested In
your investment infornation. MAY ! ssk
your opinion OF Northern Pacific? Have
twenty two shares which average me about
ta7 share 1t has now cut it's dividend.
Would You sell. taldnF my loss, or hold
same Also have thirty fv. shares OF
KcnneCott costing me $40 per share, no
dividend 30 YOU think It possible to got
out of it without loss? 1t has been re
ported that they to resume its divi-
dend. What do you think OF tn" follow
ing stocNs soqthecn Pacific, we,tins.
house Electric Manufacturing Norfolk q
Western and Weston Union Telegraph ?
Mrs. Fl. Il. 9.
Answer If your object in dsposing
Of Northern Pacific stock would be to
purchase some other common stock we
cannot see that anything would be
gained by takng this step, unless you
have lost confidence in the Northern
Pacific system. The system is not so
certain an income producer as it was
before the war, but the dividend Is
nssurcdly safer now than it was before
the reduction was mnde. However, Un-
less this stock constitutes very
whole. we think YOU might better have
some good preferred stock, although
one objection to an exchange for
preferred stock would be that your
chances Of recovering the lost prin"l-
pal might be reduced. AS for your
Rennecott stock the important fact
to be considered in arriving at de-
cision ia that the copper industry has
probably put the worst behind 1t. Old
surpluses are being worked OFT grad
ually and many companies are rcSunt-
ing production. However, 1t ls sti!l
A Question whether Kcnnecott or other
producers Will resume dividends this
year. Having these things in mind,
,rc hoeitoto TO make anV definite rec
New-York tribune., 1922-04-23
Speculative Questions

the following: bought United states
Cast Iron PIPE at 7os4. Would YOU advise
selirg at Sc or hold? Would YOU ad-
wise buying Baldwin Locomotive + per
cent tond at 100? paid 10 for Penn
srlVania stock. 40 shares; wound YOU ad-
wise selling? VIII you suggest few
Mrs NJ J. X
Answer Without knowing anything
of your financial strength, any advice
on your United States Cast Iron Pipe
preferred stock would be in the nature
Of forecast of the probable action of
the market in this stock The same
applies to Pennsylvania Railroad stock.
All we can say under the crcum-
stances is that if you cannot afford to
take the risk that goes with stocks
Of this kind the proper course for
you to follow would be to exchange
these stocks for good bonds or high
grade preferred stocks. We think you
can secure better than 5 per cent
with reasonable security and would
suggest such bonds as: Peye Mar
quette IS, 1856. yielding about SO
per cent currently; United States Rub
Der 5s, 1947, giving q current return
of 5.6 per cent; New York Telephone
6s, 1871, returning 5.8 per cent; Mon
tana Power 5s, 1913, returning about
5.3 per cent. Baldwin Locomotive 5s
are callabe as whole a. ll5 and
interest on any interest date.
New-York tribune., 1922-04-23
J. financial Items

EN-. W. committee representing the first and
Oeno,..eolh mortgage per cent bonds Of the
- . q RIO Grande Railroad Company.
Tho "F5sch lanes II. Perkins, president Of
cNa aIniers Loan and Trust Company, is
posi,f'aN' announces tina, the time for de-
Aay -. nag oeeh EXTENDED TO
Z e. .'ce enleht was made that Hallgarten
fort (. NeFAers ard members Of the New
eficex' .och Exchange. have removed their
nom nor building at AZ Pine Street
Nassau Street
New-York tribune., 1922-04-23
Investment Information

questions OF general interest TO in
.eStoFs '0tH be dnstocrcd IN this col
I'""' ~ 'ch'ch case ouip initiala ,riU
oe nSeo' Others 'ciU be onstccrcd BIZ
md"' '"' Address all inquiries. inclos.
;@9 a STAMPED, addressed cnuclope, to
'"ohc'at Editor, The Tribune. y5I
NoSSo" Street. Netc York Ci,u.
New-York tribune., 1922-04-23
Inquiries Should Be Signcd

Inquiries addressed to this depart
ment are regarded as confidential, but
to show the writer's good faith, all
should be signed and an address should
be enclosed for reply. Letters from
the following are being held for iden-
tification: j H.. A. W. S. (Albany),
H. B. p. A. g., B. W, NJ. T., J. s. c.,
". S. R., "Anonymous." S A., l.. L. E.,
j. B., Z. G., D. G., S. NJ. c.. j. S., Mrs.
J. R. D., X. NJ. L., Mabel A. K, F. V. S.,
NJ A. B. Shoemaker, P. B., A. E. F.,
H. R. W., l.. v, F. P, NJ. E. F. and
NJ W
New-York tribune., 1922-04-23
Middle States Oil Speculative

Question-W ould YOU consider American
Tobacco Company good lnvestnent, say
around 1873? understand that it pays ] 2
per cent. In view Of THIS, why is the stock
so low? Also would YOU consider Middle
States OH a good Investment ~ iss
". r r.
Answer-We would use the word Gin
vestment' in connection with Middle
States Oil stock only in r. compara-
tive sense. Thus: Middle States Oil
is a better "investment' at ID than it
was when the price was up to II. But
by comparison with common stocks Of
good grade, we would say that Middle
States is still only q speculation. We
would put American Tobacco in the
class of securities that m ght be pur-
chased for investmcnt by business
man or some such person in position
to follow closely developments IN the
companN,s affairs.
New-York tribune., 1922-04-23
Wants Savings to Work for Him

Question: own IN. following bonds
moSt OF which bought in July. 1s2l, in
Central Pacific frat retund.ng 4s. ls>a;
Grand Trunk equipment sise, 1885: pa
cffc Gas and Electric s1s40; Pennsylvania
Ohio CHI P0wsr and Light -, 1910, rrnited
Railroad general 4i2s, 1865. Southwestern
Gem Tslephone Is 1871: Northern Pacific
Station e,4.. 1863: Morris d Co. 4f1.. 1S9s:
Swift & Co: 7s. 1891; Toledo Edison Is
ls4l; New York Edison sl4r. 1871; Chi
cago & West Indiana 7ias. 1876; Southern
California Edison os 1s44; Atlas Powder
Co 7'as, 1s3e; Kingdom or Denmark es
lsfzi state OF elueensland 6s l9+I; Com
two of these. THIS money represents tho
savings Of a lifetime OF very hard labor
intend 10 retire from business and to
live on my income which viii be ample
for my needs. I am absolutely green" at
the Wall street game and in my pur-
chaSes was guided by large banking
concern l would appreciate your opinion
on this list. What want is security
first, and something need not worry
about. have an additional $4,000 to in
my holdings would you suggesi?--C l.
Answer-The banking house to which
you refer gave you good advice when
you planned this investment. We think
it entirely suitable for your purpose
with the possible exception OF the Chi
are not exactly speculative, but they
do not measure up to the security of
your other issues and are what we do
scribe as business mans investment
For your new investment fund we sug-
gest either United Kingdom 5as, 1887
or Swedish government IS, 1899, both
Of which are selling about par; United
States Rubber 5s, 1947, selling recently
TO yield about per ceat Pere Mar
quette 5s, 1866, selling recently to yield
about 6i2 per cent, and General Elec-
trio Is, 1910, selling to yield about s y
per cent. You might also consider one
or two good municipal bonds.
New-York tribune., 1922-04-23
Silver Markc,

s.r ea, 81 20. New York. domestic
.als 81, foreign, e7.c. Mexican dol
New-York tribune., 1922-04-23

Answer-Pacific Gas and Electric IS
are covered by a wide enough margin
Of earnings to Justify our classifying
them as a good investment. We do
not think a change is necessary.
, 1922-11-27
4 Study in Maiorities

PARTISAN majoritieS in congress are a fluctu.
l. ating quantity. Their study forms a very in.
~teresting feature to those interested in the public
affairs of the country and the operation of the
machinery that makes the laws, levies the taxes,
expends the peoples money on behalf of the people
and otherwise conducts the general public bust.
ness commonly referred to as the government
The Republican majority in the present house is
166. The Republican majority in the next house
will be 10.
This recalls a similar reversal under the Wilson
administration. The 1912 elections which made
Mr.. Wilson a president by a minority vote of the
country gave to the Democrats a majority in the
house of 163. In 1914, although the opposition to
the Democratic party was still badly divided the
Democratic majority was reduced to 20.
Small majorities are the rule in the house and
senate. The ebb and flow of the political tide nat
orally affects the senate less because the six.year
tenure of office enables its members to bridge over
the temporary upheavals that SO often completely
change the political complexion of the lower house.
An example of that is afforded by the period
of years covering both administration of Cleve-
land and the administration of Harrison. During
this period the house swung from one party to the
other but the senate remained Republican, al.
though its Republican majority was cut to a rar-
row margin of two for the terms beginning 1887
and 1889.
Surprising as it may seen, the United States sen.
ate was Republican every term from the Civil War
to the term which began in 1915, with the exception
OF the one term which began in 1898. In that year
the senate stood Al Democrats. IS Republicans and