davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-12-30
Whr bond YIeIds ioli 2. Q.

onestion--f intend purchasing soms 81
the az per cent bonds of tbs New YORK,
Westchcsfor a boston Railroad but bsfors
doing ~ I would Ike 70 have your edYlo9
concerning same. 4 understand that these
ars FIRST mortgage bonds with grincipal
Guaranteed ~ New York, New Haven a
Hartford Railroad, ~ this Il 20, how 40
you account Tor their selling AZ ~ YEA
Ing around 1914 per cent I'D. ~ T.
Answer-Theso bonds are hrst
mortgage on the oompany's property
and they are guaranteed BY the New
York. New Haven a Hartford, but
neither Of these facts makes them
good investment. The value Of mort
gagged property, IN the last analysis,
must be Judged by is power 20 pro-
dueo revenue. In the case under OBJ
servation you will find that tho com
pany has sustained a large loss from
operations In every year for decade.
The guaranty Of a weak road % pay
the obligations Of an unprohtable sub
sdiary Is Of doubtful value, even
though. as IN the present Instance, the
guarantor manages 20 meet the obliga-
tion for a time. The price Of this AZ
per cent bond registers unesrtainty
about the continuity Of interest pay
meutg.
New-York tribune., 1922-12-30
Bethlebem and Mining Stock

ousstion--Reslna 80 much about invest
msnts "a your paper every nAl' con-
hem gtesi B T. selling around tes % go
AMI am advised that u pays equai %
pcr cent on the Investment ara nave
a few hundred shares Of United Eastern
cola ,gs Ms.s .u. S1gsn, ~ q "a. a. e.h, @ on s ,Rs
Investment snd has paid u for the last
Two years what u your opinion 10 re-
gard q the tw0 siocksf IL cer-
thcy could not b. paid. ~ seems 90 no
United Eastern "a selling very iow IN com
psrison with Bethiohsm ID. which costs
much mOro.--W. 1t.
Answer-We cannot deny that shares
Of United Eastern Mining have been 4
profitable speculation. Dividends Of 60
cents share, az least, have been paid
for FIVE years on stock OF 81 par value.
Dividends Of per cent arc being paid
on Bethlehem "B" shares, and reports
Of the company indicate that dividends
are not covered by net earnings. But
tho resources OF the mining company
are gradually being depleted, While
there has been a tremendous increase
in the value OF the assets Of the Beth
lehem Steel Company In the last ten
years, and present surplus Of the COM
pany permits Of dividends being paid
partly from earnings u pteFtvHo gN~i
without endangering the strong cash
position OF the company The shares
Of these companies arc speculative IN
differing degrees, and the current re-
turn from dividends is not the only
factor 20 be taken into confederation ~
making comparison Of intrinsic values.
The properties Of the Bethlehem steel
Company will exist and continue TO op-
crate, in our opinion, long after tho
mines Of the United Eastern Company
hive been worked out, and the basis
Of An estimate as 20 a fair market price
for the shares Of these companies
sbould and does take the latter factor
d -
New-York tribune., 1922-12-30
Short Covering
Aids Rise in
Stock Prices
Selling TO Register Losses
for Taxes Intellectual as
n Bear Factor; Active
Issues Make Good Gains

Confinued selling o. stbcks Tor the
purpots Of registering losses FOR In
Gems tar purposes was incfeeiual a.
a bsnr factor IN the stock market ycs-
tsrdsy. The record o. transactions in
d!eated plainly that the resort to this
method Of tightening taxes, customary
tcvard the end Of the year, has been
G real condition rather than theory.
Undoubtedly some measure Of the
strength noted IN this market was due
20 the Efforts Of Brofessionais 20 close
ous unprohtsbls trsnsastions On the
fhort side and thereby claim credit Tor
loss Of income. for the stocks making
the most conspicuous Gains we're those
ia which large short Interest was
known % exist Gains in the more
active issues ranged Up 70 two points.
i was q sufficiently fOrceful com
Tnsntsry on the excuses for the irregu-
lar heayiness OF Thursdays market
that the general rise yesterday was
carried on without any improvement in
the Turkish situation.
There we're signs in the bond mar
Ie, that the usual yoar-end reinvest-
lsent demand was beginning 20 make
stseIf felt. Government issues dis
riayed uniform strength and among
iigh grade investment issues Of cor
rorations a better tone was noted. a
feature was the continued good de-
r1snd at rising prices for 81. Paul
tonds which, with the the common and
preferred issues in the stock market
effected the degree Of confidence en-
rendered By the Novmber earnings
,.atement Of that system. The rise IN
call money rates from an opening
afuYe OF per cert 10 shortly be-
ore the close. failed 70 have any ef'
ZEE, On either market. the stifening
4 rates at this juneture being reeog-
lied as the result Of the customary
vssr-end demand for funds.
Irregular fluctuations, relatively un-
important In extent, occurred in the
Foreign exchange market. stering
tuls closed with o slight fractional
loss At .SL6S%. while French francs
and German marks continued their up
rsrd trend. closing at 18TH cents for
he franc and O.oi35 Of cent for the
- f,dinn rupees. rejecting q ris-
pg tide Of export trade at higher
urlees. advanced 70 $3.50 Further
weakness In Canadian dollars brought
he rate down points 20 1882.
Trading on the cotton exchange was
much reduced in volume and changes
were small. The only notable example
4 weakness in any Of The markets was
n wheat Heavy liquidation brought
ne May option down more than two
cents 70 s122h.
New-York tribune., 1922-12-30
Mnr Inerease Annnnll

Ousftion-As a daily nader n IiE
good paper permit re 90 s1lsarof q ava.
rtyFelf N your reliable awe. J sr 4
bnriness giri anf throggh hare s'It fsi
thrift have f1rree1~d I'M accgrlliiirr fl
following for fHe ineFfatIs rt'aI rlr
AaI have 70 one % .0ot % 1l -Isf ~
financial AID in ary sife1. tl- llr,f
-.o-.,,er home rsar ar0nei5iHiea ! asss
srord % take much risk sith nJ r'.T
Would sou En Iy .r.u.ie ~ rf D
has bren suggested POI re tat osifl
fhe Duquesue. sorthEc cFffr lri D ~
ceiling arourd their caNtls ~ D.
enrf.zf,eld Street Railway II Ntr r
about 500. DO rgu alaN ~ AZ
Here ARE ny hY.i.Egs. - fsn ~
Namour1 Tf5H. $500 ngqgeEs Lffi -
$500. N0rthwestcrl bel it ~ l.r
r.I.rhrra Fa 500. r1fef k-flI1
Great Britain. 6ns lfli. ii. aa,t
Queensland 81, 1900, canallaa f.e.-,
ff COO 81 IS straua q Co.. fifN D.
On hand az THE time iiQl Eiig1 utrl
invest in a good bond Have had 2 -
purchasing d swin a Co : psf cert a-
or a LoulFyiile Gas and Electric gc-
per cent 10 yol ffclmmful s.i-l
After the FIRST ~ the year ] ttpaci e "
chase ahothsr $500 boni ani ia'te =,
preciato your sugrerfion. hiepl ~ I
NH. wv" MNMM. ~ "
In advance for your valued iliq1ltI Y
j forgot to mention above thh nl itt'f
onre D. securities listed "a ms sfeatlti |.
curb uarkgt-Mia1 3. G.
Answer-We do not believe gol re-,
be worried about the redcenltli ia
ture Of Du Pont 7iss, Duqsesas ~
7iss or NOrthWestCrn Bell le.sg,N
Is. II they are called !, VII b s.s
enough then % LOOK about lof ..
stitute. Louisville Gas ane bleeiff /.
and Swift 81 are suitable lnves,ncl
for one In your position, but ths li's
are not available In denom.nsli9,,
small as $500. We suggest tati nsiH
extending your list Of holtingi y
round out each Of your $500 ion p
$1,000 amounts. In this way yos '
increase the marketabllliy Of year Z
yestment.
New-York tribune., 1922-12-30
stpdebaker Sells *"

studebaker selling "ex" the 2j per
cent stock dividend yesterday attract
ed much attention, particularly at the
optninr. as there was a good deal Of
conjecture regarding the lRit!al sale.
that Vas at nix. down onc-fourth Of
a point, and shortly thereafter there
was a decline % ll0l. This. however
vas the low point OF tho day. and dur
ing the afternoon an active buying
movement got under way w1ich carried
the price NJ the close up 10 ia >
equivalent % above ii3 n toe dividend
rad not come OF the price Of the stock
This was O net advance OF y points
and compared with the previous high
FOR the year Of iilA.
New-York tribune., 1922-12-30
Inden.ndent Stools Advance

The independent Steels, including
bethlehem. Republic and Nidvsls'
which have been laggnrds so far as
any buying activity whs concerned,
esn,s 10 llfo IN yesterdays trading and
moved forward brisky, especially In IN,
afternoon trading. 10 was suggested
in some quarters that purchases OF
these issues was due In part 20 cover
ing BY shorts 10 establish losses be,
fore the end Of tho year. Others Leaned
a. ,bc oninIon that the bulk Of tho
buyinR was By interests who felt that
tho steel stocks should 60 higher u
1928 is 20 witness continuation OF
the upward movement. The last year
has been admittedly bad for tho indo-
pendents, deficits being the rule rather
than tho exception. Republic at the
close Rad established q net gain OF 3
points. Bethlehem "B" "a and Aidyalo
a points.
New-York tribune., 1922-12-30
In Wall Street
Selling for Cash

Cash sales IN lhst.minuto effort 20
es;sbllsh 1929 income tar losses were
a fsa.u.s Of yesterdays stock and bond
marke,.l These transactions are likely
% continue IN volume to-day, ns the
opportunity will be afforded TO faftheI
register losses II immediate delivery
/. made and payment made IN easn'
Friday was the last day In when deai-
ings OF this character could bs mAae
IN the regular way" u was inc con
sensus Of opinion In brokerage circles,
however, that tho bulk Of tax sellng
bas already been completed, inaasmueh
as tho price trend was decidedly up
ward
New-York tribune., 1922-12-30
Erchnnre QnestlonnaIre

Having completed the task o. send
ing out 70 is members the FIRST OF q
series OF ouestionnaires intended TO
ASCERTAIN a complete report on the
financial condition, the business cor
duet committee Of the stock Exehan I
already IL at work distributing the sec
ond batch, and between seventy-hve
and eighty already have been distrib-
uted. while there arc i,ioo members
OF the Exchange. questionnsires have
been sent only 20 those who have di.
rect relations with public buying and
selling Of stocks on margin. This In
wolves about coo members.
New-York tribune., 1922-12-30
Ano,ber National Bank Passes

Tho movement in banking circles to-
ward state rather than national char
ters definitely gained another recruit
Yesterday when stockholders Of tho
Irving National Bank ratified q proPo-
sltlon 10 liquldate their institution IN
connection with the pending merger
with the Columbia Trust Company.
The bank will cease 10 function as a
separate entity on January 6, when the
merge becomes effective.
New-York tribune., 1922-12-30
What's Behind
Actiue Stocks /?
Oil

The Vacuum Oil Company, ineor-
porated In 1865, was controlled by
the Standard oil Company OF New
Jersey until the dissolution OF that
company in 1911. 10 specialized In
the manufacture OF high grade lub-
ricating oils bearing the trade
mark, "Gargoyle." The company
owns and operates rehneries at
Olean, n. Y, and Paulsboro, n. j,
with a combined capacity OF $4,000
barrels OF crude oil. The latter
plant Is located on a 675 acre tract
with dockage for Ocean-going ves-
sells on the Delaware River Com
pounding and finishing plants are
located at Bayonne and Rochester.
Il owns and operates a feet OF
tankers and does q large export
business, marketing In all principal
foreign cities through its own
branches or affiliated companies in
eorpOrnted locally. Some Of these
companies operate plants for the
manufacture Of lubricants. Real
estate. plants and equipment were
given a value Of close 20 10000
600 In the last balance sheet. In
vestments IN affiliated compapies
were carried at the actual cost
price Of sia.055.000. At the begin
ming OF 1922 current assets exceed
cd current liabilities BY S59,549, 900
and there was n surplus of more
than SCI. 900. 900. The stock dividend
OF 800 per cent, payable December
30, 1922. transfers S45,000,000 from
this surplus 20 capital, leaving $780,
600 900 capital stock outstanding
The par value has been reduced
from 800 TO SIS, 90 that the number
Of shares will be increased twelve
fold. The net assets applicable 10
the common stock at the beginning
Of 1922 amounted 20 S77,if7, 300, or
S42.85 a share on the stock as out
standing on payment Of the stock
dividend. There IL a funded debt
OF si9,243.000. Since the Standard
OF dissolution Vacuum stock has
received a regular dividend rate OF
per cent. Extras have been paid
ns follows; Z per cent In 1918, 10
per cent IN 1922 and per cent In
each OF the other years. Range Of
stock since 1912 price OF old stock
divided BY y 10 allow for capital
change): high. {2A, In November,
1929; low, iiA, In 1914; ycstef-
days close, asa.
New-York tribune., 1922-12-30
Debt Funding Commission

President Harding's suggestion thai
tho powers Of tho american debt fund
ing commission be broadcned 70 give
IL frecr hand In TIC pending negotia-
tions with the foreign debtors OF the
United states was well received IN
banking circles yesterday, although the
hope FOR early action in this direction
ia believed @ be slim. An arrange
ment OF the British debt, at least. u
regarded as feasible II a greater period
FOR payment is allowed and the re-
auiremeut as 70 interest rate is modi-
fed
New-York tribune., 1922-12-30
Investment
Information

Question. Of general in,s,sst 70 ".
vssfoys wiu BE- ANSWERED IN thts eg,,, eg,,
pmn, N which ease only tnitsdis ,osu
BE- used. Otkeys piH be aHswsrsd, ~
mall, Addrsss oil iH0uirses, taeios-
ing a stamped, addyesssd envsiops, .
Financial Editor, The Tribsns, ~
NassaR Street. Net0 York Cifv.
New-York tribune., 1922-12-30
Suitable for Buslnes- Man

ouestlon-Through your financial coll
ur1ns pIease let me- know if you consider
he per cent bonds ~ the Morgan Engi-
neerlng Company q conservative guinness
mans investment. ana els9 the bits'ht
price paid i00-A. Mel
Answer-MorRa Engineering s. may
be considered a suitable investment Tor
n business man who is not particular
about limited marketability.
New-York tribune., 1922-12-30
The Dollar in Foreign Exchange

Foreign exchange rates moved irreg'
uisriy within a narrow range yester-
Gay, rejecting the unsettled outlook
for the immediate future. sterling
continued 20 rule easy and lost I. OF
cent, while French francs rallied;
Dutch guilders dropped back ana
Scandinavian rates were Irregular.
New-York tribune., 1922-12-30
Money and Credit

Call money opened and renewed yes
t.rday at 3 per cent. Shortly after
noon the rate was marked up to b11
md then 20 per cent. The market
w,s disturbed by government with
frawal Il $40. 1000 900 and by prepara-
tions Tor the year-end Disbursements.
Ume funds were almost neglected, n
one fourth point diferential being
maintained between the bid and asked
New-York tribune., 1922-12-30

Bank Clesrings elearings at
New York Yesterday were; Exchanges
s924 600 900; balances, SS2,OOO'OOO.
Silver London, Sihd; New YORK
domestic bar, e9Ac; foreign, 64%e;
Mexican dollars, ace.
New-York tribune., 1922-12-30

Fous full columns o. y
restment questions and a'
roers rriH be published o
The Tribune epery Sunds
and Monday. On other dsp
one full column 'rin GPP'@'
New-York tribune., 1922-12-30

American lnterna.ioaal, Vhieh ir,'siti
income from investments, vas iilis
Osi Ia 1921.
New-York tribune., 1922-12-30
Cali Money Finishes at 6 Per Cent

Six per cent was the charge for call
loans az yesterday close, the final
quotation for the year. II was the
first time since November that the
rate had been 90 higa, level only in
frequently reached during 1922. The
Tightening was directly attributable 20
preparations Tor the annual dlsburse-
ments, which are heavier than the
monthly. Credit conditions have shown
marked Improvement in the last twelve
months, bot !t is interesting 20 note
that the iaual charge for speculative
accommodations in 1922 was the same
as in 1921.
New-York tribune., 1922-12-30

The process of redemption of approx
imately $500 600 900 war savings certid-
Gates is proviug a heavy drain upon
the deposits carried By the goyernmleeint
with the banks In this district The
government has this week Withdrawn
$40. 100000 of these balances and on
Tuesday next win take down an addl-
tional $50 0OO0.0 900.
Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1922-04-17
AGAIN BURNING
CITY GARBAGE
Nye Plant, in Commission
After Breakdown, to Be
Operated Continuously
VALLEY" SOON TO
BE UNDER EARTH

The Nye incinerating plant re-
sumed operations, this morning. be-
ing idle for several months. and will
be operated "a hours a day seven
days a week.
Dr. c. NJ. Handy. president OF the
Board OF Health. visited the plant
and garbage dump this morning and
reports everything working smooth
iy. Employees OF the Street and
Sewer Department are covering the
huge pile OF garbage on the dunn
and DR.. Handy says that within ten
days no one will he able 20 tell
where the garbage Is as the decay
ing matter will he buried.
Regarding the operation Of the
incinerator. DR.. Handy says the Nye
plant by running continuously car
handle all the city garbage at this
time and that no more will be dump
ed on lots.
Work on the Davis plant will no
be finished before the end OF May.
said DIT. Handy "but we expect Z,
have ii In operation by the time tn
collection Of garbage shall prove to'
great for the Nye plant TO handle
/ #"
Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1922-04-17
D. A. R. BEGINS
WEEKS CONGRESS

The annual Congress Of the
Daughters OF the American Revolu-
tion opened in Washington today to
continue throughoua the week. More
than $500 delegates and alternates
from an parts OF the United states
ar. attending.
Among the Delaware Daughters
who left today to- attend the Con-
gress we're: Miss Ella Todd, state
Regent. Mrs. J. Pierce Cam. state
secretary: Miss Henrietta Todd, all
OF Cooch's Bridge Chapter; Mrs. Ira
C.. Tinkham. Mrs. Charles s. Middle
ton. Mrs. f. p Moody Mrs. James
d. scott. regent Of Caesar Rodney
chapter: Mrs. John clifton. OF
SMYRNA and Miss Helen Scot- and
Miss Dorothy Rooney. members or
the Blue Hens Chicken Chapter.
Miss scott and Miss Rooney VIII
serve as pages during the conven-
ton.
Mrs. Harding will receive the
delegates and alternates az the White
House on Friday afternoon. Mrs.
George Maynard Minor, president
general Of the d. A. r.. VIII hold a
reception for all hose attending the
conference. Another social feature
OF great interest will be a banquet
on Saturday.
Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1922-04-17

CENTRALIA. H.. April II.
Omitted Press Seven are dead.
several missing and thirty injured
following a cyclone which practical
iy wiped out Irvington. Ills. today.
according TO reports reaching here
over badly crippled wires.
The storm struck shortly before
a. m.
The fury OF the storm lasted but
few minutes Rain continued
falling. hindering the relief work
and drenching the homeless Shelters
were quickly built 10 take care OF
the women and children.
with the coming OF dawn. survi-
vors began searching the wreckage
/ for the missing.
The dead, according to reports
here are;
Valentine. shustcr. farmer. livinl
near the outskirts.
T.. b. Eidridge.
Mrs. James Litterell.
Mrs. John RAFT.
The two daughters OF Valentino
Shuster, Martha. and Levina, IS
were swept away by the gale. Th'
crushed body OF one was reported
recovered a mile from her home
Continued on Page Eleven.)
Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1922-04-17
IREDESTROYS
PLEASUREYACHT
Gasoline Launch, Valued at
$4,000, Burned Near
New Castle
BLAZE STARTED
BY EXPLOSION

sneciai TO The Evening Journal
NEW CASTLE. April 1.-THE
45-foot gasoline driven pleasure
vatcht katherine" George s. Ruh-
land. captain ana owner. was total
~ destroyed by FIRE. supposedly due
10 the explosion Of gasoline stove
on which II. II. Ralph, one Of the
crew. was preparing his supper
while laying off Battery Park beach
about o'clock last evening. The
loss sustained is estimated at about
5000. said 10 be partially covered
by insurance.
The boat was enroute from its
winter quarters at Chesapeake City
TO Philadelphia 10 be repainted and
nut into commission for summer
use. When it was nearing this city
the coupling on tho driving shaft
boke and the boat moored OF the
Battery. while the captain and an
other member Of the crew went 70
Philadelphia for repair parts. II
II. Ralph, Of Chesapeake City, was
left in charge Of the boat and was
preparing his evening meal when an
explosion occurred. which caused
him 10 jump through the open door
Of the mess alley. The entire inter-
ior of the mess alley was soon ablaze
and the intense heat forced Ralph
TO abandon the craft by using the
Continued on Page Eleven.)
Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1922-04-17
ASK CLEANUP"
EVERY Spring
Committee Also Recon-
mends Expert as Health
Board Secretary
MR.. DUPONT PAYS
S13,766 FOR WORK

Prize awards we're announced and
reports presented on the Clean up
Week campaign. at a luncheon-meet-
ing this afternoon in Parlors A and
b.. OF the Hotel DUPONT. held by the
general committee in charge. Mayor
Harvey presided.
The special committee appointed at
the last luncheon-meeting by the
Mayor submitted Its recommended
tions for action looking TO making
permanent the benefits of cleanup
week. This committee was COM
posed of William ST. Francis. chair
man: Mrs Donald Nsnh~ooF.
George Carter. Carlton T. Bridgham.
CAPTAIN C. NJ. Dillon. William b. Fos-
ter. Wilmer stradley and Charles F..
Ernst secretary. DO reported as
follows:
your committee on recommen-
dations has held three meetings and
respectfully submits the following
recommendations;
Il. That the Clean-Up Commit
teen commends the suggestion made
4 by DR.. Handy that a trained public
health officer be employed as secre-
tarv Of the Board OF Health
80. That a permanent commit
tee Of citizens representing the vari-
Gus districts of the city. with the
| Mayor as chairman eX-oficio. be APP
pointed TO cooperate with the Board
] of Health in the enforcement OF
| health laws and regulations. apt
to assist In the procurement of such
CONTINUED on Page seven.)
Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1922-04-17
CYCLONE DESTROYS ILLINOIS TOWN; z DEAD
FEAR POCOMOKE CITY, MD. IS DOOMED BY FRI
BUSINESS SECTION OF
POCOlNOKE CITYBURNS:
FEARTOWNLS DOOMED

The girl operators remained on duty
as long as possible and got out the
appeals for help TO other towns be-
fore leaving the building.
At the Office OF the Wicomic News
at Salisbury at o'clock this after
noon It was stated that the informa-
ton received there shortly after 1
o'clock was that the entire business
section had been destroyed and the
fire was eating its way into the resi-
dental section. Hundreds OF homes.
Il was said. were burning at that
time and there was grave doubt that
any part Of the town would be
saved.
The Diamond tate Telephone Ex-
change at Salisbury gave out similar
information. The chief operator said
that the operators at Pocomoke City
had remained on duty as long as it
vas safe. but had been driven out
ny the fire not long after the hotel
caught fire.
The Salisbury chief operator said
that the last word she had received
from the exchange az Pocomoke
City before the operators there had
TO abandon their posts was that an
the business section was then gone
and that many dwellings were or
fire.
After cleaning out the business
section the fire ate its way to the
water front and all the packing ant
fishing houses along the Pocomoks
river are doomed. Most OF the
buildings were Of frame and tn,
blaze. once getting a headway and
famed by a breeze. spread so rapid.
/ ~ that many families had no op.
/ portunity to save much from theii
homes.
Pocomoke City is an oyster pack
/ ing and fishing center.
Owing TO the telephone exchang,
being destroyed there was no pos
sibility at 2.3O o'clock this afternoon
Of getting much more definite infor
nation from the town for severa
hours, or until some OF the visitinl
firemen return TO their homes.