davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-05-27
STOCK OF GULF OIL
JUMPS rs POINTS
Quotation. SIS, Is Up 225 in
Six Weeks-Melon Rumor.

Shares of the Gulf Oil Corporation, a
so called Mellon company. advanced to
575 yesterday. a jump of 75 points as
compared with the closing prices OF
Thursday. The stock has advanced
about 225 points in six weeks. The COM
pany Is one of the richest, and most
successful independent oil companies In
the country. Earnings last year were
in excess of $25 a share on the out
standing stock, which aggregated
little more. than $36,000.00o. These earn
ings were shown after deduction of
$50, 100000, or approximately 500 a share
for inventory depreciation, depletion.
&c. The corporations surplus at the
end OF 1921 stood at $l1.2s7 ,7s3. or more
than $500 a share on the capital stock.
Various stories have been repeated to
account for the sensational advance by
the stock. The most popular and most
often reiterated Is tina tof proposed
merger OF the Gulf Oil with Standard
Oil of Indiana. Notwithstanding de-
malls from Gulf officials this story per-
sists. Another tale Is that the Gulf
management Is planning to cut big
melon. With it's tremendous surplus
and its high rate of earnings, to say
nothing of its exceptionally strong cash
position the Gulf OIL Corporation could
easily pay a stock dividend of 100 per
cent. or even more, and the recent
buying is believed to be based upon
expectation of some such move.
The New York herald., 1922-05-27
NO CHANGES BY BURNS COAL.
President Says Management and
Policy Are Snme.

NJ. F. Burns, president of Burns
Bros, made this statement yester-
day in connection with the election on
Thursday of new board OF directors:
"The management of Burns Bros.
has not changed in any particular and
the policy pursued in the past will be
continued 1t is hoped. with the same
success financially as heretofore. as
the same careful methods will be fol-
lowed. giving strict attention to the
needs OF the business, with no thoughts
of outside matters and desire to
keep sufficient funds on hand at all
times to meet whatever might happen.
AS the coal business is an Elusive one
and very uncertain. it's success depend
ing largely on weather and other con-
ditions. the successful concern is one
that is able to stand up against bad
situation"
The New York herald., 1922-05-27
COTTON MARKETS
STRONG AT CLOSE
Early Dip Quickly Made Up
and Prices Rise to Finish
of 80 to 48 Points Up.

Active demand for July contracts.
which wero bid up more than "a cent
a pound. lifted the entire cotton futures
list yesterday and impaired general
ly strong tone to the market. An early
dip of about to 10 points was cancelled
quickly under support from shorts.
trade interests and brokers operating
for Japanese account. but the days
highest prices were not reached until
the last hour. when the market rose 35
to 81 points. closing at 80 to 4S points
more than 1t did on Thursday.
Interest centred in private condition
reports that appeared. Two reports,
the Southern Products Company's and
the Memphis Commercial Appeals
placed the condition of the growing
crop at the end of May at 69.3 per cent.
Of normal. which Is slightly higher than
expected. Two others, one issued by
Fenner & Beane and the other by Nor
man Mayer & Co. placed the condition
at 81 per cent. of normal 1t begins to
look as though public feeling was being
crystallized for Government report on
June 2 of less than 70 per cent. 1t
may be that the official report will be
considered bullish or bearish according
to whether or not the initial figure Is
six or seven.
There was little change in weather
conditions. The western belt was most
ly clear while scattered rain fell over
the eastern belt. Unsettlement is in
prospect for the Southwest over
the week end. Liverpool cables were
generally steady. Week end statistics.
showing spinners' takings of 203,470
bales in contrast to 229.332 in the last
previous week were regarded with only
passing interest. The worlds visible
supply was estimated at 5,1S5.S71 In
contrast to 5,258,388 in the last previ.
GUS week.
The local spot market was steady,
net unchanged at 21.50 cents for mid
ding. The New Orleans market was
25 points higher at 2o.25 cents. Its
The New York herald., 1922-05-27
BUSINESS GAINS IN
CENTRAL AMERICA
Conditions Better Since Last
Part of 1921 and Trend Up
ward, Says U. s. Survey.

WASHINGTON, May 26.-Brighter eco
nomic skies in Central America were
seen tonight by the Commerce Depart
ment in special survey Of the trade
situation in that region. Conditions
there during the first quarter Of this
year, the Department said. had been
improving. compared with those of the
latter part of last year and 1t was be-
lieved generally that the trend was up
ward.
In Costa Rica general business was
reported as healthy. Stocks, although
possibly not as complete as they have
been in normal times. have been kept
up fairly we'll and paid for. The cof-
fee crop is large and prices have been
good, although payment has been made
in credit.
Recognition Of the new Administration
in Guatemala by the United States, the
Department asserted, had had a bene-
ficial effect on trade in that country
and further Improvement was antici-
pated. Coffee prices have been improv-
ing and the demand for Guatemala cof-
fee In Europe causes the prediction that
about so per cent. of the present crop
will find market there.
Decided improvement was shown in
business conditions in Honduras in
March. the Department continued, and
political disturbances which had caused
suspension of business activity were not
considered severe enough to affect the
trade materially.
Coffee prices had increased in Nicara-
qua, the Department concluded. al
though the crop was less than normal
and unlike the output Of Costa Rica and
Guatemala.
Argentine meats are selling readily In
English markets. according to report
from Buenos Aires issued tonight by
the Commerce Department. For the
first time In months, the report de-
clared. slight feeling Of returning con-
fidence was making itself felt In Argen-
tine stock raising circles, although man.
ayers of foreign owned packing houses
believed that the Improvement was tenn
porary.
The New York herald., 1922-05-27
WORLD GOLD BASIS
VITAL TO AMERICA
Crissinger Says ,Demonetiza-
tiOn Would Prove Disas-
trOus to U. s.

PITTSBURGH, May 26.-Maintenance oi
the gold standard by foreign nations is
vital, Comptroller Of the Currency Girls
singer declared to-day in an address
here before the Pennsylvania Bankers
Association. Otherwise. he said. the
United States might be left with an
enormous store of the yellow metal
stripped of it's monetary value.
To this end Mr.. Crissinger advocated
adjustment of the foreign war debts to
this country on such basis as would
permit OF their eventual payment in gold.
at the same time expressing the view
the debtor nations was necessary to the
economic welfare Of the country.
'I do not believe" he said, 'it is pos
sible at this time to reach final settle
ment of all the international obligations.
But there is absolute necessity that some
general policy shall be agreed upon
among the nations with reference to
these obligations.
"A beginning must be made and an
understanding reached for balancing
budgets and adjusting international
debts, so that there may be a start
toward international liquidation and sta
bilization. In the final analysis we shall
see plainly that the preservation of the
gold standard depends on bringing all
these obligations into relationship with
gold and then placing moneys on gold
basis and setting out toward ultimate
payment in gold.
"It is not necessary, as / view 1t. ne
continued, that Europe shall forthwith
begin to pay interest upon Its obligations
to us. Indeed, to-day, that would mean
that Europe must drain itself OF its re-
naming gold and break down the gold
standard. The only alternative would be
for Europe to furnish us with goods
which we could accept only at the price
of substituting them for goods produced
by our own industries. In either case
our last state would be worse than our
first.
THE most that can be undertaken at
this time-and it must be undertaken
soon IL we are to avoid DISASTERS to
reach a workable understanding and
settlement as to the future of the In
ternational debts due us. and existing
between other countries; and along with
this there must be a serious effort TO
balance budgets and bring costs OF
government within the capacities OF the
nations to pay"
The New York herald., 1922-05-27
GAIN IN DEPARTMENT
STORE SALES SHOWN
Late Easter Increases April
Buying-Chain Stores Also
Sell More.

Sales by department stores in the Sec
ond Federal Reserve district in the last
month were the largest for any April for
which figures are available. They were
2s per cent. above those of April last
year and 1.6 per cent. more than In April
1920, according to the June issue Of the
Monthly Repieto Of Credit aud Business
Conditions, oy the Federal Reserve
agent in New York The RerieW will
say
These heavy sales are largely ac-
counted for by the lateness OF Easter.
which resulted In the postponement until
April of spring purchases usually made
in March. April sales were nearly per
cent larger than those of March.
whereas the normal seasonal increase
between the two months is less than /
per cent.
'sThe number OF individual transac-
tons during April was per cent. larger
than in April 1921. The average amount
of each transaction declined 5.4 per cent.
from s2.95 In April. 1921, to s2.79 In
April, 1922 Sales of both mems and
women's ready-to-wear clothing were
substantially larger than last year.
Stores that sell apparel exclusively re-
ported an increase of more than per
cent. in total sales. On the other hand,
merchants report that sales of cotton.
wooden and silk piece goods were some
what below those of last year. This
shift in sales appears to indicate that
many women who made their own cloth
ing during the period of highest prices
of ready made clothing are now pur-
chasing finished garments more freely.
"The largest increase In sales of chain
stores in April was made by the and
10 cent stores. sales of which were 21
per cent. larger than year ago and the
largest ever made in April The aver
age sales per store increased 16 per cent.
Sales by chain grocery stores were 20
per cent. larger than last year, due
largely to an increase in the number of
stores owned by the reporting systems"
The New York herald., 1922-05-27
Big RECEIPTS DROP
MAY WHEAT'S PRICE
Deliveries Also Are Heavy
New Crop Months Re-
main Firm.

CHICAGO. May 26.-Big receipts here
and heavy deliveries on contracts led
to fresh declines to-day in May wheat,
but failed to keep down values for later
months. The market closed unsettled
at &c. net lower to 1c. advance, with
May s1.26h to s1.26%. and July -S1.22h
to $1.22ss. Corn finished unchanged to
Bc. higher: oats up Mc. to Nc, and
provisions from &c. off to 75c. advance.
Rapidly accommodating stocks of old
wheat In Chicago. with demand for the
grain seeming to have lost all the
urgency that prevailed early In the
week, was generally accepted by wheat
traders to-day as sufficient reason for
new setbacks in May wheat. Bulls,
however. successfully contended that the
new crop months. July and September,
were at too great a discount already to
be responsive to such apparently tran
sient conditions. Persistent buying of
July in small lots for houses with East
ern connections featured much of the
session and tended to emphasize cleav-
age between the old and the new crop
deliveries. General lessening Of selling
pressure became evident near the end,
bears showing signs of being somewhat
nervous over possibilities of surprise de-
to-day totaled 4SS carloads.
Rain likely to hamper field work gave
comparative firmness to corn and oats
Provisions averaged higher, In line
with hog values.
The New York herald., 1922-05-27
ITALIAN EDISON co.
TO BORROW HERE
Negotiations for Floating
Loan of $4,000, 900 in New
York Are in Progress.

Negotiations for the flotation of loan
of about so. .000. 900 to the Italian Edison
Company. the proceeds to be used in
connection with the electrification of
railroads in northern Italy. are In pro-
gress here. The financing is understood
10 be connected with the recent acquisi-
ton of hydro electric properties in
Northern Italy by Aldred & Co. In
connection with this project 1t is un-
derstood that the General Electric Com
pany has increased its representation
in Italy and that the work will be
started soon.
Reports that the Italian Government
was seeking a 500. 100000 loan here were
declared as unfounded. 1t is pointed
out by the international bankers that
thers is no need for Italian Government
financing at this time. 1taly's out
standing bonded debt in this country
;s only about sli.0o0.o00. against which
that country has substantial balances
here. Her revenue from unusually heavy
tourist travel and remittances TO her
people are about sufficient TO offset its
interest charges.
The New York herald., 1922-05-27
Gdyr 7
S. 1891
Gcyr 4 ~
lat Ee fell

10 lol0
2. SO. LIP
13. .1123s
Trunk Ry
68 1885
The New York herald., 1922-05-27
{ anada PncInc
A. -..,Aktt..

Canada South
con A IS 1862
2. .07i4
Car q x Ohio
LIST IS 1898
.90l2
tent ofGeorgia
1o-yr 6s is2o
2......9e
Cent Leather
list IS 1925
.9714
Cent New Eng
Is 1861
2. 66i4
.66
.66l4
Central i'aciAc
ref Is 1919
S63a
.S6lo
OR n OF New J
Sc 1887
The New York herald., 1922-05-27
B. r. T. TURNS DEFICIT
INTO NET OF S2,360,l27
Income for Ten Months Ended
With April Reported.

The Brooklyn Rapid Transit Company
reports for ten months ended with April
30 net income of s2.SeO.127 after fixed
charges in contrast To- deficit Of
IS. 2S4.20 for the preceding corresponding
period. Its gross operating revenues for
the former period were 9l6 In con-
trast to $25. 1866. .S25 and its net operating
income was ss.41S,s62 after taxes. con-
trasted with s973.551 a year before. Its
total income of ss.736,655 represented an
increase of $7.37s O65 compared with that
of the first ten months of the preced-
ing fiscal year.
The company's operating report for
April showed gross operating revenues
of s., ,929. .931. an increase Of $213.61. COM
pared with that of April. 1921. It's net
operating income for the month was
$s72, ,904 after taxes in contrast to $34.-
722 in April, 1921. It's income from all
sources was $1.1S7.992 in April in con-
trast to $s7s.39S in April. 1871. The
surplus was $34s,0S6 after taxes
in contrast to $lo2,1 las in April, 1921.
The New York herald., 1922-05-27
DOMESTIC.
Chi ct
ls 1850

ref Is 19l7
49,. .96l J
Chill g & East
lst AIS 1909
3......SSlo
Chi Nil & Il Sd
As l949
o "a
The New York herald., 1922-05-27
KoNDoLF MADE CHAIRMAN.

Frank n. Kondolf resigned as presi-
dent of the Remington Typewriter Com
pany at Yesterdays meeting of its di-
rectors to be relieved of the company's s
active management. He accepted the
presidency for this year with the pro-
vision that he would be required to serve
only until his suitable successor could
be found. Mr.. Kondolf was elected
chairman of the board. B. L. Winchell,
formerly president of the Rock Island
Lines and the st. Louis and San Fran
cisco Railroad, was elected to succeed
Mr. Kondolf Mr.. Windell was also a
director of traffic of the Union Pacific
System and during the war was regional
director of railroads in the South, with
headquarters In Atlanta.
The New York herald., 1922-05-27
Ajax Rubber
o. la1l

m NuRnr
ss 1897
The New York herald., 1922-05-27
Average Bond Prices
May ee. 1872.
BOND NEWS AND NOTES.
bolivian oneripg "wednesday.

The $4,000 900 of the Bolivian Gov
ernment's twenty-five year per cent
bonds probably will be offered on We'd
nesday, it was reported yesterday in
Wall Street 1t is understood that their
offering price will be about 10l to yield
more than 5 per cent. According to
that information. the bonds will be a
first lien on railway revenues and GUS
toms duties.
The New York herald., 1922-05-27
Rock ISLAND Notes All sold.

Freeman & Co. and Hayden. Stone &
Co. announced yesterday that the issue
OF $2.344 500 of the Rock Island Railways s
equipment trust s per cent. notes. which
were stamped subordinate in lien to a
similar issue of prior lien notes and
offered for sale by those bankers this
week. had been sold. Other offerings
of subordinated notes are expected to
be made soon.
The New York herald., 1922-05-27
Rail Issue Authorized.

The Carolina and Georgia Railway
Company has been granted authority by
the Interstate Commerce Commission to
issue s350.000 of It's first mortgage per
cent gold bonds under a mortgage to
be dated March I. 1922, S135. 900 OF which
are to be exchanged par for par for a
like amount of the roads outstanding
first mortgage 8 per cent. bonds. dated
January !. 1920. and the remainder to
be sold to' not less than S5.
The New York herald., 1922-05-27
ROAD ADDS TO NET INCOME.

The Elgin. Joliet and Eastern Railway
reports for 1921 net income Of 1920
III after taxes and charges against 81.
0ss.3i6 In 1920. The railways gross rev.
enue was .9i2 in contrast TO s22
051.470. After payment of taxes and
equipment rents, but before interest.
other rents. &C., balance of 81 $40. SIC
against s3.326,s6i.
The New York herald., 1922-05-27
Manitoba Reject. All bids.

The Province of Manitoba rejected
yesterday all bids for sS.00o,O00 of its
thirty year per cent. bonds The high
est tender was 1904 and xhe lowest
81. 167. The treasurer said that he could
have disposed of the issue by private
sale at 100.05.
The New York herald., 1922-05-27
Republic rubber Project.

The Republic Rubber Corporation has
completed arrangements with bankers
for issuing $l.500,O00 of it's certificates
OF indebtedness. The proceeds of the
issue will be used to retire s1.000000 of
It's certificates, issued in January. and
provide additional working capital to
meet the requirements of its expanding
sales
The New York herald., 1922-05-27
Sell All steamship bonds.

Brown Bros. & Co. and Lee. Hggin-
son & Co. announce that the subscrip-
tion books for the offering OF 5000. .0oi
of per cent. bonds of the United
States Steamship Company. Ltd. OF
Copenhagen. have been closed. the issue
having been largely oversubscribed.
The New York herald., 1922-05-27
Michigan Awards on June @.

On June the State of Michigan will
award s13000O00 of its 4, 4i4 and AZ per
cent. bonds, running for ten to twenty
years. OF that amount. ss0OO.cOO are
highway bonds and s5,OO0,0o0, soldiers
bonus bonds.
The New York herald., 1922-05-27
Sc l. q 3 Y RI

Sc l. n 9 Y Ry
Inc 6s 1900
The New York herald., 1922-05-27
8. o. OF KENTUCKY RAISES RATE

The Standard OIL Company of Ken
lucky declared yesterday a quarterly
dividend of 81 share on its new s25
par capital stock. payable on July /.
to it's stock of record on June 10. This
is at the annual rate of "a share on
the present stock. or s16 share on the
old stock. Prior to the exchange the
annual dividend rate on the old stock
was $l2 share.
The New York herald., 1922-05-27
COFFEE
EXPORTS FROM NEW YORK

Exports from New York yesterday: Wheat,
335, ,O70 bu.: corn. 1874. .563 bu. oats, 1S0.2OS
bu.: rye. 205.751 bu.: pork. 25 bbls.; bacons.
$40 800 lbs; lard. 1.30s. ESQ lbs.: stearine:
1O3 GOO lbs; grease, 43, 800 lbs: flour. s.9s4
sa cks; feed, 100, 200 lbs. oatmeal. $40 sacks;
luhricnting oil. 82D. 200 gals.
The New York herald., 1922-05-27
All Coast Lii
Let A lQh1
Atlantic trl

All Coast Line
l. &c n ~ 1852
3......Sli4
1......Sll2
The New York herald., 1922-05-27
$. O. STARTS WORK ON Ell MEME.

The Standard OIL Company or New
Jersey has started development work on
the El Meme property in Venezula OF
the British Controlled OIL Fields. Ltd.
under an agreement recently executed
between the two concerns. The pres
ont production Of British Controlled Oil
Fields is 1000 barrels daily and. under
the agreement with Standard interests.
II is expected that, very substantial
increase will be made soon.
The New York herald., 1922-05-27
LIVERPOOL.

Spot cotton fair business doing at "a
points Decline; oc midding i;SSd. 10y dss males s.U e
docket, 1000 bales. Futures opened quiet
7 to higher. Closed quiet but steady at
8 to 16 points advance. May. 11.77d.; July.
II SD: October, 11.40d.; December. 1f.26d.:
January. 11.21d.; March. 11.12d. Manches-
ter: Yarns and cloths quieter.
The New York herald., 1922-05-27
yeCO%IU
So 1851
Denmark !
Bway & 9TH Av
con Is Iq43

D. 90
Bkln EdiisonCo
6s A i949
1884
Akin EdisonCo
os B 1890
Inn
The New York herald., 1922-05-27
Atcn I & = re
Atcb T & 8 Fe

CIV IS lyoo
2......S07s
All Coast Line
i0-yr Is 1880
1883
Atl Coast Line
CIV as 1854
q. .S7l2
The New York herald., 1922-05-27
Pennsylvania
rs 1880
Pennsyfvania
tie 1919
pennsyfvania
con as 1881
Philadelphia 90
fcf A. f01l

Peoria 4 East
Ino a. 1900
10. .32
The New York herald., 1922-05-27
" Y Telephone
c. 1919

Osss sDO
Nor n W@tn
<s 1905
The New York herald., 1922-05-27
UNITED STATES TREASURY STATEMENT.
Revenue receipts and expenditures q

Special Dispatch to YonK
J
c.,
The New York herald., 1922-05-27

Bkln Edison Co
In q lQ2a
The New York herald., 1922-05-27

Wheat-No 2 red. 81 1.3s; No. hard. $t.a5;
No. Manitoba. $1.53; No. mixed durum.
81 .41% c. 1. Z. track New York to arrivo.
Corn-No. . yellow and No. 2 white. 79hc.; !;
No. mixed, 7S%c.
Oats-No. white, 49lsc. No. white. 4s
to 4Skc.; No. 4 white, 47c. fancy clipped
white, 55lz to 57hc.; ordinary clipped white,
51h to 5315c.. all elevator.
Rye-No. 2 Western. S1.18h Z. o. b. New
York and $t.15 C. I. I. export.
Barley-Malting, 7s0S3c. q. 1. I. New York.
Hay-No. /. $30Q32 No. 2, $28930: No. 3.
S25q27 shipping. $23d25.
The New York herald., 1922-05-27
U. s CERTIFICATES AND NOTES.

.March ~ 100 10 100 rs 100 i-2 s42
May. AZ f00.60 1C0.1O 1OO.fS 4.Oi
.June.. 5H to3 i-i6 Io3 3-i6 ios lie al
sept. 5h f02 fJ-lO 1O3 Is 103 4.O1
.Msrcih Az Ioi 7-ie ioi e-1e ioi 7-is air
1929.
sMarch Az 10i i5-i0 i02 i-f6 iOl 1915 III
Acceptable In payment OF Federal taxes
on the dates of maturity,
The New York herald., 1922-05-27
Chicago KY
1Gt In 1877

Chi X | n 4
gen - 1883
.S33l
Chi II I & r
ref a. 1894
The New York herald., 1922-05-27

SEABOARD CLEARANCES.
The New York herald., 1922-05-27
BANK OF FRANCE STATEMENT.

PARIS, May 26.-The Bank OF Frances
weekly statement shows changes rs follows:
The New York herald., 1922-05-27

Union Pac fs 81
2. .91l2
20......916s
.01
Union Tx Car
co tr 7s A 1870
2. 1na9o
The New York herald., 1922-05-27
Am Tel & Tie
Am lei &
cit ts ibl6

Am Tel Il 10.
clt <s 1920
1......o .oO7s
10. .90l2
Am Writr Pap
lst 7-6s 1882
1...... .S73s
Ann Arbor
LIST Is 1895
- GS
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-10-25

Two corporations we're authorized TO
Increase their capital stock. ns follows
Kansas Gas & Electric company,
Charleston. from sl@.0oo.N'O 10 SIC
5000 and the Community Savings n
Loan comnanv Tarkersburg, from $780,
600 70 100000.
The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-10-25
FIND CINCINNATI BANK LOOT.

Cincinnati. Oct. 2i-A report received
in Cincinnati that part OF the s26S,00J
loot obtained by the bandits who hold
up and robbed the Hamilton County
hank here recently had been located IN
81. Paul. Mimi. was being investigated
today by K. n. Matthews. president OF
the bank The report said that the rob-
herv was committed by members of a
nationwide band OF robbers.