davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-11-01
Growth of Capitalization

AHC N2cl. "a m
Between 1912 and 1922 the operated
mileage increased from 2,3O5 miles to
2,o4S miles, or II per cent.
1t will be noted that during the ten
years funded debt increased S63,b0O, 900,
while common stock stood still. This
gave the company a topheavy capital
structure, which was only partially
remedied by the issue this year of s12,-
6bS,500 new 61a per cent cumulative
convertible preferred stock, the pro-
ceeds from the sale of which will be
used for improvements to property that
VIII result in saving in operating ex-
penses - according to estimates
amounting to about 81 ,ooo, 900 annually.
Up to recently. the company had
not attained sufficiently strong posi-
ton to enable it to sell stock for the
purpose OF financing capital improve
mients. But it so happens that large
issue (S4o ,Is0,0a0) of convertible per
cent bonds was sold q few years ago,
and the way the situation shapes up at
present 1T looks as though profit
able opportunity would be afforded to
holders Of these bonds to convert into
stock before the conversion privilege
expires. Conversion of these bonds
II 1T takes place--together with the
further output of preferred stock for
capital improvements, will in time
create better balance, between bonds
and stock. During the past ten wears
the company has appropriated upward
OF Sz9O0O,000 out of net income for
additions, betterments and improve.
ments. The plowing back of this money
into the property is one reason why the
company is row able to finance with
stock instead of being obliged to resort
to bonds or notes.
Estimated Property Value
The estimated value of the company's
property used in the service Of trans
portation is S3IO,OOO,00o. To this we
are justified in adding the sum of. saw.
S12,o0o,O00 to represent the net pro
New-York tribune., 1922-11-01
Trend Continues
Lower in Quieter
Trading ON Curb
Pressure i'm Oil Group Is
More Pronounced and IN
dllstriaIs Fail TO Hold
Gains; Some Covering

Prices continued lower in auieter
trading on the curb market yesterday
despite some covering late in the ses-
sion which stcadied the list. Oils were
subjected to pressure and the indus
trials failed to hold gains to some
extent.
Standard Of Indiana lost more than
2 points, Gulf Oil lost point and
others sagged slightly. Southern
States was in supply for time, but
recovered part of the loss. Midwest
Texas dropped back slightly.
Hayes Wheel met profit taking and
lost point, Glen Alden Coal fell
nearly 2 points and Schultz Stores
dropped below so, but Gillette Safety
Razor worked points higher. Fidel-
ity Phenix Fire Insurance $25 stock
was traded in around 80.
- H.,
New-York tribune., 1922-11-01
B. & o. Plans Grain Elevator

Il. A. Lane, chief engineer Of shs
Baltimore q Ohio Railroad Company
announced yesterday that contract haa
been entered into with the John 8. Mss
calf Company, Of Chicago, for the pSer.
aration OF plans and specifications f0s
the new grain elevator facilities at Lo.
Gust Point, Baltimore, In replacemsns
Of the two old elevators destroyed "a
fire July last. The storage bins, wits
capacity Of 5000, 900 bushels will be g
creased to 5000, 600 bushels.
New-York tribune., 1922-11-01
Railroads Earning Power
No. chesapeake & Ohio

I'VE present III the aubjoined article
the fourteenth Of series of fortu daily
discussions of the present eayaing power
OF the ieddiHg Americdn steam raiiroads.
AZ the request of The Tribune. these
studies auere undertaken 5g the Stand
ard Statistics Company, inc., Of Ne,o
York .chich has prepared the papers
end 70 occurring a copyright for them III,
1899. The fifteenth article ,cll appear
to-snorfoac and ,oil deal soieh Gulf. Mo-
bile Dc Financial Editor).
Chesapeake g. Ohio has shown excel
lent progress during the past ten years
and only moderate part of its income
turing this period has been paid out
IN dividends, leaving upward of $780,
100000 to be expended for property
improvements which have still further
increased the roads earning power.
From an investment standpoint the
company's bond issues occupy a strong
position. The new preferred stock
should rank with the high.grade issues
OF this character. The common stock
faces the possibility Of an increase in
the dividend rate, which conditions
seem to warrant whenever the directors
see fit-to act. Data in support of these
views will be found below.
(,royyf Il s,f Car;a.1;.a.
New-York tribune., 1922-11-01

sYears ended June so. fEstimatcd. tho
preferred stock. sNo dividends paid.
New-York tribune., 1922-11-01

ceeds Of the new preferred stock, pay
2. last. This would make the total
1922, 100000, or IL per cent more than
total capitalization. IL the funded debt
and preferred stock are theoretically
retired at par, there would remain an
equity for the common stock in prop
erty value equivalent to SOC, 900, or
$i54 share.
Growth of Revenues
Gross Net after Total
revenue taxes fncreaaa
1914. $4,000. 900 $40, 10000 s13100. o 90
s1922.. si.80O.U00 $4,000 $4,000. .0Oo
-----
Tho fc.t I'm go .n
New-York tribune., 1922-11-01

I
slDstimated
Earnings for 1929 are estimated,
these estimates being based on the
normal seasonal variations Of both
gross and net, taken in conjunction with
actual earnings to date of latest
monthly report.
Chesapeake g. Ohio is one of the rail
roads that benefited by the coal strike
because OF its serving large area of
non-union territory.
Dividend Record
The original Chesapeake & Ohio
dates from 1868 as the result of con-
solidation Of railroads. The company
was reorganized in 1878 and again in
1888. the second time without fore
closure.
The initial DIVIDEND paid by the
present company on its common stock
was / per cent in 1899, and this rate
continued for ten years, when 1t was ad-
vanced to per cent and then to per
cent in the following year, after which
it gradually declined, reaching per
cent again in 1915. In the 1916 fiscal
year nothing was paid; then per
cent until the end of 1920. nothing in
1921, and in 1922 per cent. During
recent years the company has devel-
oped an earning power sufficient, to all
appearances, to warrant an increase in
the dividend rate whenever the direct
ors see fit to take action. Dividends
on the new 61s per cent cumulative
preferred stock, mentioned above, &C.
crue from October 2, 1922.
Margins of Safety
In the following table the margins
of safety shown above interest and
dividend payments are computed on
the basis of the percentage that in
come available for interest and divi-
dends would have to decline in order
barely to cover these requirements.
Thus, in 1912, if total income had been
9 per cent less, barely sufficient would
have been earned to cover fixed charges
and the per cent dividend paid in
that year. If total income had been
81 per cent less, fixed charges alone
would have been earned. The plus 46
per cent shown in estimated earnings
for 1922 against the new preferred
stock represents the margin in excess
of the actual requirements this year.
New-York tribune., 1922-11-01
Foreign Bonds
Paris Market Firm,

PARIS, Oct. 31.--Prices were firm on
the Bourse to-day. Three per cent
rentes, so francs as centimes; exchange
on London, SO francs so centimes; 5
per cent loan, " francs 10 centimes.
The dollar was quoted at u francs %
New-York tribune., 1922-11-01
The Dollar i'm Foreign Exchange
(Continue6 from page saykbeenl
THE AMERfCAN

ARGENTINA tpsr sz.tt esnts 9 papsf rsssl
csbiss ao ........ss.sS ....ssssS % %sSss $3.50
BRAZIL (par s2.ts cents nnilFslsl
Demand ......iiLtte iiii.ssss iii.ss 9ssss rs
% chsosss sD.s ........ :.. al %.ei ass
ECUADOR tpar $3.50 csrts . sucsSl
Checks ......9 .91.e1 f1.e7 1856
CHILE tpaz ss.s cents pssc}
Checks 1855 1879 11.s5A
URUGUAY trar ies.4a cents Eessl ].
VENEZUELA (pas 1913 cents Q boiivarl
Checks ........Ss.2s 1888 ieeI
Canadian Exchanse--New York funds p
Montreal. s.9k per cent dtsoounti Mont.
reas funds in New York. ss84 pSr ceri
premium.
sNominaI
New-York tribune., 1922-11-01
T.nndnrr Market Steady

LONDON. Oct. 31.--Tradins was quiet
and prices were steady on the Stock Ex-
change to-day.
Bar gold was quoted at sss sd money
WAS loaned at 2 per cent. Discount rates
were: Short bills 254 per cent; thrae4
month bills. 2A@s 7-,s per cent
COnaols for money were quoted et 81
British per cent loan at ssh and Brit
tsif Az per cent loan at s5M.
CsloaiEg stock quotations Mteraf
New-York tribune., 1922-11-01
Standard Oils

1900 Anglican OIL. 2ois 2oA 20 30
SO AaslEsys As'aDs,s f'fo' POS: III ~ III III
30 Cont Oil......147 14S lat l4S
100 Galena Signal. SO SO SO so
425 Imp OIL Can. .113A 116 t12A 112h
80 Illinois p L....176 176 175 17s
ESQ Ohio OIL. 900 302 299 EOS
90 Prairie o G. c. e35 635 $40 Gao
255 Prairie Pipe. ..276 276 270 270
10 Solar Ref. .391 391 S91 391
20 South p L... "a "a "a "a
10 SO Penn OIL. ..1ss 1873 1873 l8s
100 s Oil of Cal wi 81 81 81 sl
assoc s Oil of Ind. .1lsM 120M 116A l1sM
10 s OIL of Kan. sos 6o5 sos eos
100 s Oil of Ky. ..l07% 1os 1854 l08H
$500 s oil J. W t.. AK ABA 41% AK
3o5 Oil OF N Y $50 565 546 646
70 Vacuum Oil, ..652 $50 $40 e43
5000 do W i...... AK 41gs 40is 1oh
New-York tribune., 1922-11-01
A Comprehensive Manual Of
Short Term Securities
Arranged according to maturity dates
HE great number of
sfiort~termsecuritiesout~
standing makes it posi-
ihle for The investor Il,

select issues maturing in any year,
often in any month, which he may
choose. He requires, however, com
prchensivc information which will
show maturity dates over consider
able period, and which will also in
dicatc the character of the various
issues.
We have just published the Twelfth
New-York tribune., 1922-11-01
Federal Land Bank Bonds
Joint Stock Land Bank Bonds

Yo,n+ s..s,. Bid. Ask. Yield.
IS. 1s5.-.si 1es an
joint Stock Land Bank
sas, 195l-I9s1 iosh 7o5H 47s
Joint Stock Land Bank
5s. 1939-1e2f. asM soen 1as
Chicago Joint Stock Land
Bank bGs. 195f-issl. .I1sM 1osh sEs
Chicago Joint Stock Land
Bank SIS, i93f-js4G aeI 1n0M xe.
Chicago Joint Stock Land .o'
Bank IS. ia5l-ts3l I0eix 1hs.. arn
Chicago Joint Stock Land -eS
Bank 5s. f952-I9521neA ,ne1 1se
The border vidette., 1922-01-14
(N0. B 81926) DEGREE CHANGING NAME.

In the Superior Court Of the State Of California, in and for the County of Los Angeles
 In the Matter of the Change of Name of The Zellner Piano Co a Corpora tion.
 Be It Remem bered. that on the Sth day of Septem ber, 1920 in Department 10 of the Superior Court of the County Honorable Louis w. Myers. J udge, pre- siding, the following proceedings were had, to-wIt:-
 The petition of The zeliner Piano Co.,, Corporation. for change of unme. coming on regularly in all respects for hearing on the 8th day of Septem Der, 1920, Glen E. HuntsberRer, Esq uire, appearing as attorney for the petition CT, the court, after hearing the evid- ence finds:
 lst.-That on the 3rd day of August, 1920 the said petitioner, The ZeIlner Piano Co.,, & Corporation. filed with the clerk Of the above entitled court it's peti. ton to change the name of said corpOra- tion to STORY 6 CLARK MUSIC co.
 2nd That said petition filed was signed by majority or the directors of said corporation, and specified the date of the formation of said corporation, to wit, January 18th, 1915; the present name Of said corporation, to-wit, The Zellner Piano Co.,; the name proposed, to-wit, Story & Clark Music Go; and the reasons for such change of name.
 3rd That upon the said 3rd day of August, 1920, the above entitled court made an order reciting the filing of said petition, the name of the corpora ton by which it was filed, the name proposed, and directing all persons in- terested in sRid latter to appear be- fore said court At the time and place specified in said notice. not less than four (4) or more than eight (S) weeks from the time of making such order, to- t:-the 3rd day of August. 1920, and show cause why said petition should not be granted.
 4th.-That copy of said order to show cause was published for four (4) successive weeks in the Los Angeles Daily Journal. newspaper of general circulation printed and published in said Los Angeles county, which time of publication expired on the 1st day Of September, 1926, and proot of such publication has been made to the sats- faction Of this court.
 5th.-No objection to said petition to change name has at any time been led herein.
 6th.-All the allegations and state meats in said petition for change of name are true, and to this court by tho evidence iD trod uced herein, have been shown so to be
 Wherefore, it is Ordered. Adjndged, and Decreed. that the name of the petl tioner. The Zellner Piano Go. be and the sauIe Is hereby changed to Story SS Clark Music Go.
 Done in open court this Sth day of September. 1920.
 LOUIS w. MYERS.
 Judge of the Superior Court
The border vidette., 1922-01-14
5 YOUR HEALTH
 GRADUALLY SlIpPING?
serear EHpacs oe Texas Lady Who Declares That ore Wonea Knew AbouE czraa They Would Be Spared
 Much Sickness saa Wcry.

co.:tG1i:%tt < rest wei at right and was just iifelesz.
 ''i dsard of Ca7c!.li and aftec reading decided Is2c. BORIS female trouble ina was puilir.g a1e Gows. sent for Carcat 2nd began it. =.
 s'Zr, g very short I8li.ie afier csgan ire Cazisli Home Treatnleut l Saw aa ira- proveuieEt ans st wasn't !oag xn.i VEas al right-good a1Ps5;te, episz1did resl. ard mucii stronger go ri.ak easily d..d my house work.
 ''Laie- took fsr:Le of Cardati as q tonic. can recommend CarGui and glad ly Go %, fer if Eiore woEi .n knew, fl would s2re a great dsai of worry and sickness
 rff;e enthusiastic praise oi thousands ct afs1er wsz.slan ei,o have fornd Cardui helpful should convince you that ii IS worth trying. All druggists sell it.
 J. 7a
The border vidette., 1922-01-14

Navasota, Tezas.--As!.zs. W. M. Peden. stIis place, relates Eiie following interest :. account Of hcw she recovered her rength, having realized tflal she waS
 .naliy iesing heT health:
 'iIea!til is ths gseaiest thing in tale orId, and when you feel that gradually ippiag away from you, you certainly g.: } and take notice. That $ what did cnie tin.c ago when found myself in q .ry ncrvcus, rundown condition oI
 a,th. was 50 tired aSai felt SO lifeless cc.uld hardly So d aa.
 "E was Just ID account for work. l yc,i;d get a bucket Of water and would eel go. weak I would have to set 1t down before feIt ike could lift it to ias sitsif In tl,is condition. of course, 10 do even my hou5cwork was q ask a!!:10ss i'm possible fo accomplish.
 'sI was nervous aud eas::,v ur,eet-
The border vidette., 1922-01-14

scribed to the foregoing articles of in = corporation, and they duly acknowl- edged to me. that they executed the same; ana iso known to me to be the persons named as directors in said ar, tIcles of incorporation. and each ac- knowledged to me that he alike hls signature to said articles Of incorpora- ton as such director.
 In Witness Whereof. I have hereunto set my hand and affixed my official seal at my office in said Los A ngeles coun- ty. the day and year Tn this certificate last above written.
 (SeaD RALPH F. HUNTSBERGER, Notary Public in and for said County of Los Angeles, State o! California. We, R. Zellner. Jr., President. and l.. E. Solte, Secretary, of The Zellrer PIano Co.,. corporation, hereby cer- tify that the foregoing copy of Amend ed Artices of Incorporation rf The Zsll ner Piano Co.,. corporation, ia a true and correct copy Of said articles as amended; that the original Articles of incorporation Of sad cOrDOratiOn were amended in paragraph Fifth thereof by changing the number Of directors from three (3) to four {4); that said original Articles of Incorporation were so amende ed by a majority vote of the board Of directors or said corporation in a meeting called for that purpose, and by the vote of the holders of at least two-thirds of the subscribed cap ital stock, In a stock holders meeting called for the purpoce; that annexed hereto are true and correct copies of the minutes of the meetings of the Board of Directors and Stock hold CTS held for the purpose of amend ing said Articles of Incorporation
 Dated October 9nd. 1919
 K ZELLNER. IF. Director
 E. w. KIRKPATRICK
 Director
 L. H. NOLTE
 Director R. ZELLNER, Jr
 President
 L. H. NOLTE
 Secretary
 (Seal of Corporat;on)
The border vidette., 1922-01-14
STATE OF CALIFORNIA,
 County of Los Angeles,

NO. ISU11 I, l.. E, hampton, County Clerk and ex otficio Clerk of the Superior Court. do hereby certify the foregoing to be full true and correct copy of the A m- ended Articles of Incorporation Of The Zellner Piano Co.,, and certificate. on file in my office. and that I have care fully compared ths same with the original
 h Witness Whereof, have hereunto set my hand and affixed the seal of the Superior Court this l7th day of No -vem Der. 1919.
 {Seal) L E. HAMPTON, County Clerk
 By w. c. WATSON, Deputy Clerk
The border vidette., 1922-01-14
STATE OF CALIFORNIA,
 County of Los Angeles.

I. l.. F. Hampton. County Clerk and ex- ofIicio Clerk of the Superior Court, q O hereby certify the foregoing to be a full. true and correct copy of Decree Changing Name on flo in my office. and that I have carefully compared the same with the. original.
 In Witness Whereof. I have herPunto set my hand and affixed the seal of the Superior Court this 18th day of Sep temher, 1921
 (SeaD l.. F. HAMPTON. County Clerk.
 By R E THOREE. Deputy Clerk.
 First publication Dec. 3-6t
The border vidette., 1922-01-14
STATE OF CALIFORNIA, (.
 oP So

On this eleventh day of January, 1915. before mo Ralph r. Hun Us berger, a Notary Public in and for said County of I.ns Angeles. residing therein, duty com 'ssioned and sworn. personally appeared k Zellner. Jr, l.. H. Nolte and F W. Kirk patrick, known to me to be the persons whose names are sub-
The border vidette., 1922-01-14
STATE OF CALIFORNIA
 Department of State.

I. Frank C. Jordan Secretary of State of the State of California, do hereby certify that I have efully compared the annexed copy of Amend ed rticies of Incorporation of Zeliner Piano Go. with the certified copy of the original DOW on file in my office. and that the same Is 8 correct trans cript therefrnm, and of the whole thereof. l further certify that this au identification Is in due form and by the proper officer.
 In Witness W Thereof,
 I have hereubto set my (The Great hand and have caused Seal of the the Great Seal of the State of State of California to be California; affixed hereto this 22nd
 day of SeptemO Der, A.
 D.. 1921
 FRANK c. JORDAN.
 Secretary of State By FRANK H. CORY.
 Deputy
The border vidette., 1922-01-14
The 8nrdcr a5idette.
JANUARY 14, 1922.
No. 1olS5

No. 1ols5 Frank c. Jordan, Secretary of State Frank Ii. Cory, Deputy
The Dolores star., 1922-12-15
FLEETS FORMED
into ONE UNIT
ADMIRAL n. p. JONES WILL BE IN
SUPREME COMMAND OF
BATTLE FLEET.
NAVY IS CONSOLIDATED
ATLANTIC AND PACIFIC FLEETS
REoRGANIZEO BY ORDER OF
NAVY DEPARTMENT.

Washington.-Cons of the
Atlantic and Pacific fleets into the
United States fleet" with Admiral
II. Z. Jones in supreme command and
Vice Admiral Il. W. Eberle as COM
mander in chief of the battle fleet
unit, has been announced by the Navy
Department. The reorganization, the
department said, involved no change
in any present assignment Of ships or
navy personnel. but was chiefly for
the purpose of effectlng Il peace time
organization that could be carried In
to n war emergency without change.
Under the new plan the United
States fleet Will consist of the battle
fleet, composing the main fighting
strength of the navy, prepared TO en-
gage an enemy fleet; the scouting
fleet, the duty of which would be to
locate the enemy preparatory to en-
gagement of the battle fleet; the con-
troll force, organized to exercise con-
troll of the area after this had been
obtained by action of the battle fleet.
and the fleet base force, intended to
support the operations of the fighting
forces.
In explanation of the purposes Of
the reorganization, the Navy Depart
ment made the following statement:
at facilitates passing from peace to
war conditions, thereby saving time
at the beginning of the war, when
time is vital.
ut allows the various units to be
trained in peace for the duties which
they must perform in war by the Off
GERS who are to command during the
war.
TT places the whole fleet under the
command of the officer who is to COM
mand it in time of war and gives him
and the Officers in command of the
major units opportunity to gain neces-
sary experience in command and max
ing plans to carry out their assigned
tasks.
1T creates an organized fighting
force, which his only to be expanded
in emergency to be ready for any
campaign"
The battle fleet will be composed of
battleship divisions under II vice I'D
miral, light cruiser divisions, destroyer
squadrons, aircraft squadrons and
such submarine divisions as may be
assigned.
The control force will be under
command of rear admiral to be as
signed as the relief of Rear Admiral
n. A. McCully, just ordered as pre- i
dent of inspection and survey, and
will be composed of cruiser divisions,
destroyer squadrons and mine squad
rons.
The fleet base force will be under
command of Rear Admiral ]. V. Chase,
and will be composed of mine squad
rons, destroyer squadrons, aircraft
sQuadronS and train
The Dolores star., 1922-12-15
Lloyd George Makes First Speech.

LOndOn.-David Lloyd George made
his first speech in the new Parliament
a few days ago, speaking from the
same seat whence seventeen years a5o
he was accustomed to inveigh against
the government of the day. He ex-
planned that he was not there to crIti-
cize, but only to make suggestions, he
proceeded to support the amendment
to the address, calling attention to the
gravely unsatisfactory state of agrlcul-
ture and inviting the government to
open an inquiry with view of find
ing remedies.
The Dolores star., 1922-12-15
Rules on Rights Of Women.

Madison, Wis.-Women, married
and unmarried, now the equals of men
before the law in Wisconsin, must
bear the responsibilities of their new
privileges granted by the women's
sin Supreme Court has decided 1t
held woman liable in her separate
property and business when she in
dorses note of her husband incur
ring financial liability for him.
The Dolores star., 1922-12-15
irish Free State ,navourat.d.

Dublin.-Inauguration of the Irish
Free State as Cne Of the dominions Of
the British empire took place here.
The ceremony was simple and un-
marred by hostile demonstrations from
the Republican minority. The oath
was administered to Timothy Healy us
governor-genera! by Lord Chief Jus
tice at Mr. Healy's residence, three
miles west Of Dublin, and afterward
the new encouragement admins
tered the oath to Professor Michael
Hayes as speaker of the Dali,
The Dolores star., 1922-12-15
Ten Children Die In TWO Fires.

Chicago.-Four of the six children
Of Joseph and Veronica Budak were
burned to death, and the parents and
their two remaining children severely
burned in n fire that partially de-
stroyed their home here.
The Dolores star., 1922-12-15
DENVER SUGAR QUOTATION
METAL MARKETS.

-Four months ON the chain -
the minimum sentence miii'sM
bers Of the /. w. w. may NJ
they are caught In Cale1ico, o
der any pretext whatever
to Police Judge Marty.