davidaulloa/AmericanStories huggingface dataset:
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-02-06

rent Teacher Association will be held
Thursday afternoon. Rev. ]. c.
Bearce will speak on How to Secure
the Best Relationship Between Pa
rents and Teachers"
Mrs. George Shorey passed yes
teriay in Winslow with her daugh-
ter. Mrs. f. II. Britton.
Mr.. and Mrs. Rufus Tillson OF
Dexter passed the weekend In town
with Mrs. Tillson's parents. Mr.. and
Mrs. Edwin Marden.
Miss Louise Nickerson. r. ". OF
Bangor. is the guest of Miss Doris
Orcutt. who was a classmate at the
Eastern Maine General hospital.
Mrs. John Dayman, who has been
in Greenville for several weeks, -
visiting in Benton.
Rodney Crosby, who attends Oak
Grove seminary. passed the weekend
in town with relatives.
Fred Dunlap of Canaan was call
ing on friends in town Saturday.
Mrs. Ethel Miller who has been
visiting friends in town for several
weeks. has gone to Brunswick. where
she will visit friends before return-
ing to Boston.
Harlem Express and Charlie Again
Win
An enthusiastic group of specta-
tors gathered on the KenHebec river
Saturday afternoon to witness the
horse races In the first race Har-
lem Express owned by Pooler Lewis
was defeated by Bingen Posie. owned
by A. p. Morrill, OF Fairfield in three
straight heats. Time so 1-2, so. 80.
In the second race Charlie Again
owned by A. ID. Esty OF Waterville
won from the blackmare owned by
\. ID. Stratton in two heats. Time,
SO. 80. The black mare finished the
second heat in 33 seconds lose.
The race course was in splendid
condition although 40 feet short of a
quarter of a mile. Frank Smith was
starter and the Judges were Charles
Whitcomb. Joseph Roderick and Z.
A. Burns.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27

Investors interested in short term In
dustrial investments can obtain about
$50 per cent. for two years from the
purhase or American Cotton OIL Com
pany Ave year gold notes maturing in
1924. These notes were issued in 1919
to retire S5,000,000 5 per cent. notes
and S5.000.000 per cent. notes matlr-
ing In that month. The notes arc In the
denomination of 1900 only and in cou-
pom form. They are a direct obligation
OF the company but are not secured by
mortgage. II Is provided In the issue.
however. that no mortgage lien shall be
created or placed upon the property Of
tho company without tho written APP
prevail of the holders OF so per cent. of
the notes, and In the event of such con-
sent having been obtained the notes
would be secured equally and rataby
with all other Indebtedness. The Amerf-
can Cotton OIL Company owns and opcr-
atcs large refneries OF oottonsced oil at
st. Louis, Providence. Chicago and at
other points. In Southern States the
company owns plants for ginning cotton,
crushing cottonseed and manufacturing
fertilizer from byproducts of the seed.
The company also manufactures lard
compounds and other edible Eats. soaps,
washing powders. &c
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
STRIKE CUT AUGUST
RAILROAD EARNINGS
Union Pacific and Long Island
Report Lower Net-Lacka-
wanna Shows Deficit.

Net operating income OF the Union
Pacific system for August was S3,122,-
sol, compared with $4.672.0 40 for the
same month last year. August gross
was SIT .627.S03 compared with $780,
041.541 in 1921. For the eight months
ended August 81 last net operating in
come was $l6.553.96l, against SIT
$50 for the corresponding period of the
previous year. Gross revenues for eight
months were $116.15S.620, against $123,-
$4,000 In 1921.
The efforts OF the stand pat" Eastern
carriers to break the shipments strike
resulted in the case OF the Lackawanna
in a net operating deficit OF S326.328 for
August, compared with net operat-
ing income OF 1887, 055 for the same
month last year August gross for
Lackawanna was s5,773.75s. against
$7,599.717. For the eight months ended
August 81 last net railway operating
income was $4.929 162. compared with
S7.S94,169 in 1921. Gross revenues
stood at $47.2o5,974. against S57.374, 406
for the corresponding period of last
year.
The Long Island Railroad also showed
the effects of the shopmen's strike, re-
porting August net operating income at
SSt5.l46. against Sl.029.5i7 in 1921.
Gross for August was S3.2776Sf. com
pared With sS,199.965. For the eight
months ended August 81 last Long ISL
ands gross was s2o,607. 1853. compared
with S19.2S2.53l for the same months
of 1921, while net operating income was
$3,959,5i7, against S2,034.S74.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
MORE LIQUIDATION
IN COTTON FUTURES
Prices Shaded Only Slightly at
End, However, in Dull,
Waiting Market.

The cotton market gave more ground
yesterday before continued October
liquidation and the circulation of
notices on about 1900 bales of cotton.
Losses, however. were light, and at the
lowest level of the day they amounted TO
only to % points. The finish was 8
to 16 points net lower than Monday
close.
Price movements throughout the ses-
sion were narrow and still rather
meaningless. with the bigger operators
out OF the market and the trading ele-
ment cautious in face OF the uncer-
tainty over the Turkish situation and
the easiness OF securities. Increased
receipts and continued favorable pick
ing weather also tended to keep down
the volume OF new buying.
Liverpool was a fairly heavy seller
In the first couple of hours. but the
market here for the most part showed
a steady undertone despite It's surface
loss. Cables were few points better
than due. According to New Orleans
and local house condition OF the crop
at the end of September was sos per
cent. OF normal with an indicated yield
of 100000 bales.
Spot houses took moderate quantities
Of October while Wall Street traded
on both sides. The proximity of the
two important Government reports on
ginning and crop condition did much
TO hold down the volume of new busl-
ness.
The local spot market was quoted is
points lower at 21.00 cents for middling.
The New Orleans market was steady
and unchanged at 1880 cents. It's sales
totaled 1,172 bales.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
Commonwealth Power Corp.

1t has been generally observed that
with few exceptions bonds traded in
''over the counter or In the Curb mar
ket as a rule offer higher yields than
those listed on the New York Stock
Exchange. a public utility issue that
probably will be listed on the exchange
in a few days Is Commonwealth Power
Corporation twenty-five year 6 per cent.
secured sinking fund gold bonds due in
t947. At current prices in the outside
market these bonds offer the compare
lively high yield OF about 6.75 per cent
Through subsidiaries the Common
wealth Power Corporation supplies gas
and electricity in It's cities and towns
having a population of over 1,f50,000
people In Michigan, Ohio, Indiana and
Illinois. Over 92.5 per cent of the gross
revenues of the company's properties
is derived from the electricity and gas
departments. The bonds are the direct
obligation OF the Commonwealth Power
Corporation and constitute the senior
funded debt of the corporation. Pledged
as security for the bonds are stocks
OF the operated companies having a
total par value of $32.644.400. These
stocks are pledged at less than 80
per cent. OF their par value. The COM
bined net earnings available for de-
probation and dividends on the securi-
ties pledged under this Issue for the
twelve months ended March 81. last,
amounted to s4.451,s12, or 500 times
annual interest charges on the bonds.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
INVESTMENT NOTES.
Terminal Bonds.

With the continued advance OF the
market for fixed income securities and
the increasing difficulty of obtaining in
vestments possessing tho element OF
security and. at the same time. afford
ing the investor a satisfactory return
attention Is called to a certain type OF
bond which has been to large extent
overlooked up to the present time,
namely. the terminal bond. Underlying
bonds of trunk line railways are selling
at prices to yield from 40 per cent.
70 45n per cent. and there are
available severable issues which
are guaranteed either separately
or Jointly by these trunk line systems.
which are absolutely first mortgages In
practically every instance on valuable
real estate. These issues are listed
on the New York Stock Exchange. and
can be bought to yield from " To per
cent. more than the underlying rails.
Among the more notable terminal bonds
are: Kansas City Terminal As. due 1860,
which are guaranteed jointly by twelve
trunk line railway systems; Detroit and
Terminal 41ss. due 1861. which are guar
anteed by the Michigan Central; New
Orleans Terminal first As. due 1858.
guar nteed by the Southern Railway
Company. and Houston Belt and Ter
minal first 5s, due 1887. guaranteed by
four different railways, including q
subsidiary of the Atchison. Topeka and
Santa Fe and the Colorado and
Southern. These bonds can be pur-
chased at prices to yield from 4.S5 per
cent. to $40 per cent
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
Kings County Elevated As.

thoroughly seasoned traction issue
which dealers do not hesitate to re-
commend as conservative investment is
Kings County Elevated Railroad Com
pany first mortgage per cent. gold
bonds az 1919. These bonds can be
purhased at prices to yield investors
about 5.33 per cent. They are the first
and underlying obligation of the New
York Consolidated Railroad Company,
which operates all the subway and ele-
waited lines Of the Brooklyn Rapid
Transit System. The interest on the
bonds Is prior charge on the COM
bined net earnings of all the subway
and elevated lines OF the system includ-
ing those lines owned by the city of
New York as well as all company
owned lines. Interest has been paid
regularly without interruption for more
than twenty-threc years. For the fiscal
year ended June 80, last, net earnings
were more than twenty-three times in
terest requirements on these bonds.
Kings County Elevated first As are Sc
cured by a first and closed mortgage on
all the railroads. property, rights, privi-
leges. franchises and other real and per-
sonal property OF every description on
what was formerly the property OF the
Kings County Elevated Railroad Com
pany. The mileage covered embraces
two important lines, namely the Fulton
Street Elevated and Brighton Beach
lines. In 1900 the Kings County Com
pany was merged with the Brooklyn
Union Elevated Company and the latter
company executed a supplemental mort
gage making its own $16,000,000 first
mortgage 5s of 1850 direct lien on the
properties OF the former subject to the
lien of the $7.000,000 first mortgage as
OF the Kings County Company. The
Brooklyn Union Company was later con-
solidated with the Canarsie Railroad
and the Sea Beach Railway to form the
present New York Consolidated Rail-
road Company. The New York Consoli-
dated Company is controlled by the
Brooklyn Rapid Transit through stock
ownership of over So per cent. Of the
total outstanding stock.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
Colorado ana southern 4Ms.

Colorado and Southern Railway Com
pany refunding and extension mortgage
4Ias. due In 1895. are believed to be
selling slightly out OF line with other
bonds OF the same class. At present
prices in the New York Stock Exchange
the bonds yield about 5.55 per cent.
They are secured by mortgage on all
the property OF the company. including
97S.71 miles of road of which 374 miles
are narrow gauge. The company's lines
extend from Grin Junction. Wyo.. to
Sixela. on the line between New Mexico
and Texas, with numerous branches.
The company controls systems which
own 926 miles of railroads. These con-
trolled lines extend from Sixela to Fort
Worth. Abilene and Houston. Texas.
The Chicago. Burlington aud Quincy
Railroad, which is controlled by the
Great Northern and Northern Pacific
Railway companies, owns s22.667.50 of
the common stock, s930,o00 of tho first
preferred stock and $5.93S,700 of the
second preferred stock of the Colorado
and Southern Railway Company.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
Average Bond Prices
Tuesday. September 2s. 1as.
BOND NEWS AND NOTES.

Bonds We're in decidedly greater sup
ply yesterday and the market suffered
losses ranging from a fraction to a
point or more. The days turnover
crossed the S14.500.00o mark. Disturb
ing news regarding the Turkish situa-
ton probably was responsible for the
Increased selling OF foreign issues
French Republic rs sold under 81
United States war obligations were I'M
der pressure from the start and late in
the day showed losses of from to %
cents. Although the railroad group was
fairly steady as a whole several of the
socalled cheap priced issues dropped a
fraction of a point. Missouri. Kansas
and Texas adjustment SIS, Chicago and
Alton refunding IS and st. Louis-San
Francisco income 6s were somewhat
lower. The traction group was irregu-
lar. Among the industrials Cerro de
Pasco convertible SIS, Magma Copper as
and Colorado Industrial 5s were under
pressure
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
U. $. Financing Believed Near.

That the next few months will see
United States Government financing on
q huge scale Is a theory generally ac-
copied in Wall Street. The refunding
of Victory notes alone will call for the
raising of nearly 81. 900, 10000. Secretary
of the Treasury Mellon recently an
nounced his intention to call in
$1,000. 100000 Victory Az per cent. notes
by December Is next. This redemption
probably will necessitate large Gov
eminent long term loan which. accord
ing TO some estimates, may be as great
as 5000 00o,0o0. so that the remaining
- .0vo 100000. due in May. can be pro-
vided for. 1t is believed that the new
Government bonds are to bear interest
at the rate of per cent. and that they
would be largely subscribed for by the
holders of the present short term Vic
tory notes. At current prices Liberty
and Victory bonds are selling at prices
which yield from little under per
cent. to slightly over that figure.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
undeposited !. n. T. Notes.

Holders Of undeposited secured con-
vertible gold notes OF the marlborough
Rapid Transit Company. Of which about
IL per cent remain undeposited under
tho reorganization plan, are cautioned
IN letter from Frank Hedley. presi-
dent. that the company faces the alter
native OF adoption OF the plan or re-
ownership. The Interborough-M anhat-
tan plan Of readJustment provides,
among other things that 10 per cent. Of
the notes be paid IN cash and the re-
naming 90 per cent. refunded by is
suing new ten year per cent. notes
TO be secured by all existing collateral,
consisting Of S59,602, 900 marlborough
S. thus marking pledged bonds down
from 6A per cent. to 57is per cent.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
BIG ORDER BY BKLYN. EDISON
Two Generators, Each to Cost
&1,5OO,OOO to he Erected.

The Brooklyn Edison Company an
nounced yesterday that it has closed
contracts with the Westinghouse Electric
and Manufacturing Company and the
General Electric Company for two $500
KVA single drum turbo-generators. for
delivery at the company's new plant at
Hudson avenue, Brooklyn. Each unit.
together with condensers, switchboards
and auxiliary apparatus necessary for
operation will cost approximately
$1,500,000. Each company will receive
an order for one generator. Work on
the foundation OF the new Brooklyn Ed
son Building has already been started
and II Is expected 1t will be completed
in the fall of 1893
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27

Am Ag Chem
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
NoT,cr OF RsorMPrioN.
Il Aaldsrs 81 NltterY Hete. and others eeneerNed;

Ncties Il hereby given 80 fellows; -.
Call fss partial redsnstlsn Of "a Per ceNs.
Victory nstss.--An ~ per cent Victory notes:
otherwise known United states Of America Gold
Notes Of ip7asie2 which bear the distinguishing
letters "A n. c. d. f." or Fl rr-nred 20 their
seral numbers. having beer dsnmsted fov SNa
purpose by lot In the manner prescribed b. ths
Secretary Of the Treasury, are called for rcdemr-
lion on December rs. 1922. pursuant 10 the pro-
vihon for redemption contained In the notes and
In Treasury Department Circular No iss. dated
Aurf1 III 1919, under which the notes 1r'f
inally issued. Interest on all the ~ YET cent.
Victory notea thus called for redemption WI cease
on said redemption date. December Is. 1879
Victory note. Of the ~ per cent ,ss,is: bssrr,
prsnxed 20 their serial numbers sre not In arr
manner sfeeted ~ this call for redemption and
will become due and payable nc 20 principal on
May 20. isf5 according to their terms
1-Detsiied information to the presentation
and surrender OF ~ per cent. Victory notes for
redemption under this call Is given In Treasury
Department Circular No. zoe dated July "a. 1919
corfes on which may b. obtained from the Treasure
department. Division " Loans and Currency wash
inston. ID. g.. or any Federal Reserve Bank.
A. W MELLON.
July &c. fp2a necretsry of the Treasurv.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
Ches q Ohic

Ches e Ohio
cv AIS 1880
1....... Soi
5....... S9k
Chcs T. Ohio
gen AIS 1902
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27

The protective committee OF the Read
ing Company and the Philadelphia and
Reading Coal and Iron Company gen.
eral mortgage per cent. gold bonds re-
ports that the certificates of deposit
have been listed on tho New York and
Philadelphia Stock Exchanges. Time
for depositing the bonds has been cx-
tended TO December l. 1922
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
city of birmingham 51ss.

Caldwell & Co. are offering 500, 00C
City of Birmingham, Ala, 5 u per cent
public Improvement bonds. dated Sep
TENDER /. 1922, and due September l.
1882 Optional 1924-192s. $4,000 an
nually), at price to yield about 4.7C
per. cent to optional dates. The bonds
are redeemable at 102& and interes,
and arc free from Federal income taxes
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27

r. NJ. Grant & Co. Inc, are offerins
S250.000 City of Montgomery. Ala, c
per cent school bonds. due July /, 1852
at 1861 and interest to yield about
$50 per cent. They are exempt from
Federal income taxes and are eligible to
secure postal saving deposits.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
$4,000. 900 Chinese Loan.

a London dispatch says that the Gov
ernment of China Is issuing a $40. 000.-
600 per cent. loan at 90. The can
celled Russian Boxer indemnity is Sc
curity for the loan.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
CITY OF Ponce Bonds Awarded.

The city OF Ponce, Porto Rico. has
awarded Si,375.00O public Improvement
IS OF an average maturity of ten years
to William r. Compton Company at
103.4S. The lowest Of the five bids re-
ceived was 1879.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
Sheffield Farms Issue sold.

The issue OF s2.5O0.Oo0 of 6Is per
cent. first and rcsunding mortgage gold
bonds Of the Sheffield Farms Company.
Inc, has been sold.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27

Power Issue oversubscribed.

Subscription books for the $1,000. 900
Pennsylvania Power and Light first and
y"fundlng mortgage bonds, series y. 5
frr cont, due 1852. were closed yestor-
DAY. the issue having been ovcrsub-
a,ribcd.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
sun Company Rcdemp4isn.

The Commercial Trust Company @
Philadelphia has announced that IL VII
receive offers Of Sun Company slXtecr
year per cent. dcbenture bonds. du,
May /. 1929. sufficient TO exhaust S240,
l63 In the sinking fund operating "
connection with the bonds. Bonds &C
copied must be delivered ON November
T. 1922
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
Brazil US

Adams Elk &c
cit As 1913
l....... 81
Ajax Rubber
IS 1886 -.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
STATISTICS,
LIVERPOOL,

Spot cotton quiet at 33 points decline:
middling. 127sd. Sales. 5000: American.
lures were due to 1915 points lower: they
opened quiet at IL to 10 points decline anu
closed steady at a net decline Of to 10
IL god January. 12.0ad.: March. 3d.; May,
1i.s9d.; July. 11.T4d. NEUTRALITY-SUSPICIOUS. ir-
regular: cloths quiet. The 1870 o'clock bids
cabled to Liverpool follow: October, 20.SSd. !:
December, q. led January, 20e8d.; March,
2l.0-d.; July, 20.74d.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
international SAT- Tenders.

The United states Mortgage and Trust
Company. as trustees under :hc first
and consolidated collateral trust mort
gage Of th" International Salt Com
pany, has OH hand sT0.0s2 as payment
% the sinking fund FOR the purchase OF
tho bonds OF this issue. Tenders OF the
bonds for purchase have been requested
by the company at price Of 105 and
accrued interest to be presented at tho
Office Of the trust company prior to
noon, October IN
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
THE ATCHIS ON, TOPEKA AND
SANTA FEE RAILWAY COMPANY.
-Four Per Cent. One Hundred-Ycar
Adfusfsoe ont M0rtrare Kouds

Notice Il hereby given that the Board 81
Directors OF this Company has declared "a
be due and payable on the first day of No
vember. 1922. an annual installment 81
interest (being tile twenty-slxth installmeuif
upon the UNSTAMPED Adjustment Mort
gage Bonds at the rate of -Four Per Cent
(+9o on the par amount thereof. being Forty
dollars t$f0) upon each One thousand dolla !
Isl .00O) bond. and Twenty dollars (S20) upci
each Five hundred dollar (s500) bond. Sucl'
interest Will be paid at the office OF the Com
pany. No. 8 Nassau Street. New York City.
on the Coupon Bonds upon presentation and
surrender of the respective coupons NUN
BERED 20, and on the Registered Bonds e.
the registered holders thereof. The Transfer
Books OF the Registered Bonds will close on
October 2, 1929, aud will remain closed UNI
I'll November l. 1922.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
$4,000 stamford offerlne.

VI. l.. Allen < co. and I<eanc fligbie
s. 90. are Offering $4,000 city of STAN
ford. Conn. 4ia per cent. coupon bonds.
dated August I. 1929, and due serially
Augus, !. 1923 20 1874. at prices TO
, leId ass per cent
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-09-27
WHEAT Is BOOSTED
BY TURKISH CRISIS
Fear of Lake Strike Also Acts
as Stimulus-Corn Adj
vances Too.

CHICAGO. Sept. Righteousness over
the Dardanelles crisis and the threat
ened tieup of vessels on the great lakes
led to higher prices to-day for wheat,
corn and oats The market closed I'M
settled at u to l1ac. net gain, with
December Si.04as to s1.04la and May
$1.0S% TO s1.0Sia. Corn finished y 10
/ sc. up and oats unchanged to u q SIC.
higher. Provisions ended the same as
yesterday to 15c. higher.
Owing chiefly to continued militant
moves by Turkish forces the wheat mar
ket started with a decided upward ten
dency, but in the middle of the session
a slip took place. the effect of hedging
sales from the Northwest, especially In
Winnipeg. where receints tomorrow
were expected to total $500 carloads. Be
sides. arrivals to-day 1t primary points
in the United States were more than
500, 900 bushels in excess OF the aggre-
gate a year ago.
New strength, however. developed In
wheat in the last hour and the days
highest prices were attained on the en-
suing rally. Another stimulus TO buyers
was gossip that the lake vessel strike
would delay the movement of the Cana
dian crop and would increase demand
Cor wheat at the gulf and at Eastern
United States ports.
In corn exporters and Eastern ship
pers were apparently anticipating needs
and trying TO escape being hampered
hy the lake tieup. Frost reports at
fracted some notice also. On the other
hand. buyers of oats refused TO follow
upturns in price.
Provisions responded TO better ship
ping demand and to talk that the stock
Of lard here was being heavily reduced.