davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-02-25
FINANCIAL NEWS
AND COMMENT
Stocks Generally Have Under
tone of Firmness-Steel
Issues Break.

A part of the speculative activity in
stocks was devoted yesterday to a fresh
readjustment of independent steel COM
pany shares to information contained in
statements for 1921, but it was evident
that sharp reactions in that depart
ment had only a remote connection with
quotations elsewhere. AS a whole the
undertone of stocks was Arm, decided
strength being displayed by railroad,
railway equipment. automobile and spe-
cialty issues. While Republic Iron and
Steel, Crucible Steel. Bethlehem Steel
and Sloss-Sheffield shares were being
forced down to points net, Baldwin
Locomotive, Studebaker, Canadian Pa
ciic, Rock Island and several others
were reaching upward to new high
points for this year and holding most
of their gains to the close. Undoubtedly
short sales bore down heavily on the
steel group, but the concurrent trend
among others here mentioned bore the
earmarks OF continued buying for the
rise. In the irregular array of closing
quotations advances had the better of il
in point of Numbers
The passing of the Republic Iron and
Steel preferred stock dividend on Thurs
day was unexpected and carried its own
inference about other steel share divi-
dends which. of late, have been paid
chiefly out Of surpluses accumulated in
other years. The Republics preliminary
statement for 1921 contained more de-
tails than others recently issued, one
item especially prominent and attract.
ing much attention being a debit OF
nearly $1,500,000 for maintenance of idle
plants, which brought home to the mar
ket community the fact that a great
steel making organization cannot &c
down to watchman basis, like a mine
when business declines to a minimum
The traditional observation about the
steel industry being a prince or a pauper
applies well to results of last year, but
producers are preparing for better busi-
ness this spring. After other periods OF
bad conditions industry has recovered
with greater rapidity and permanence
than the public expected.
A reactionary trend marked the
foreign exchange. cotton and the grain
markets for a time, a development
which could cause no surprise in the
light of the surging progress Of many
quotations earlier in the week. A re-
versal OF prices near the end OF a
buoyant week, due to realizing salGA -
a natural phenomenon OF speculative
markets. Sterling exchange at 3.39as
was nearly cents lower than it's best
price on Thursday, but was still cents
higher than its final price of last Fri
day. Francs and lire reacted somewhat
abruptly, the changes in the former
causing French Government bonds to
lose fractional portions of the rise of
Wednesday and Thursday.
Despite heavy profit taking sales
wheat and corn showed highly resilient
quality in late dealings The underlying
force supplied by an extensive export
ton of world stocks enabled grains to
absorb declines which ran from 2h to
nearly cents a bushel in wheat and "a
cent in corn in the morning and recover
later to levels higher than those OF
Thursday. Cotton futures were not
greatly changed at the end Of the day.
Call money eased from 51a to 5 per
cent.
The New York herald., 1922-02-25
TOPICS OF WALL STREET.
Southern Pacific at New High.

Owners of Southern Pacific stock.
who subscribed for Pacific Oil and have
held both, have been awarded by see
ing the two issues sell simultaneously
at prices, which. with allowance for
$15 paid for subscriptions. are equal
to sl19 share for the Southern Pa
cific's former stock. In addition to
appreciation in market price, the holder
receives yearly dividends of 50 from
both stocks, virtually a new high for
Southern Pacific for ten years, the
nearest to it being 11sB, reached on
November 4, 1890, soon after announce
ment of the segregation of the COM
pany's oil property.
The New York herald., 1922-02-25
Pays Big Stock Dividend.

The Federal Light and Traction Com
pany's directors declared yesterday a
cash dividend of IL per cent, and a
stock dividend Of AZ per cent. on its
preferred stock. payable in preferred
stock. Both are payable on March II
to it's stock of record on March 6. The
payment in preferred stock is to take
care of accumulated dividends on it's
senior issue up to December 1, 1921
The New York herald., 1922-02-25
Union Pacific.

Equipment trust obligations. aggre-
eating SO. 800 0oo to issue which the Union
Pacific Railroad has asked authority
from the Interstate Commerce Commis-
sion, are for paying for 4,545 cars ordered
by the road early In January. II was
stated here yesterday. The certificates
have been sold to Kuhn. Loeb e. Co.
on a 5.67A per cent. yield basis. and
probably will be disposed of without
nlblic offerinp
The New York herald., 1922-02-25
EDWIN GOULD MADE CHAIRMAN

Edwin Gould has been authorized by
the Interstate Commerce Commission to
act as chairman of the st. Louis South
western Railroads directors. NJ. L. Bell
and NJ a. Taylor have been made
directors OF the Minneapolis and st.
Louis Railroad to succeed II. T. Hunt
ington and L. " r. Thayer. Mr.. Bell Is
n director Of the Rock Island Railroad
and general counsel Of both roads.
The New York herald., 1922-02-25
Baldwin Mt New High.

When independent steel shares were the
weakest in the late trading. the Baldwin
pool took that stock in hand and put
1t to new high at 1885. Nothing in the
way of news developments came to light
which would warrant the move. The
running in OF shorts was the popular
explanation of the move on the floor
of the Exchange.
The New York herald., 1922-02-25
Freight Car Orders.

The Pacific Fruit Express Company
has placed with the Standard Steel Car
Company orders for 1900 refrigerator
cars and with the Mount Vernon Car
Company orders for 700 refrigerator cars
The Great Northern Railway Company
has contracted with the Western Steel
Car Company. a subsidiary Of the Pull
man Company, for 500 gondola cars, and
with the Pressed Steel Car Company for
800 stock cars
The New York herald., 1922-02-25
BANKRUPTCY PETITION.

PHILADELPHIA, Feb. 24.---A petition in
involuntary bankruptcy against the
Nagle Steel Company. Inc, of Potts
town, was filed to-day in the United
States District Court. The claims of its
creditors. the Alan Wood Iron and Steel
Company. Rogers. Brown & Co. and
the Cortwright Coal Company, were
S31594
The New York herald., 1922-02-25
FEWER IDLE FREIGHT CARS.

Freight cars idle on account of busi-
ness conditions were 449.S19 on Febru-
ary IS, a reduction of 1878 cars I'm a
week. according to reports received by
the American Railway Associations car
service division. or that total 27S,4S1
were in serviceable condition and the
remaining ,33S needed repairs. Sub
stantial reductions were recorded in the
CARA
The New York herald., 1922-02-25
POWER COMPANY EARNS LESS

The Manufacturers Light and Power
Company reports that it's gross earnings
in 1921 were S10,006,137. drop of ST.
0sS,000 In that year. Its balance, after
paying Sf,S40,000 in dividends. was
s135.152 for 1921 In contrast TO s71S,574
In 1920.
The New York herald., 1922-02-25
Money Supply Improves.

Call money after renewing yesterday
at 81 per cent. declined to per cent.
in the New York Stock Exchange and to
AZ per cent. in the outside market.
About S1,000,000 was loaned for ninety
to 120 days at per cent. against all
industrial collateral.
The New York herald., 1922-02-25
Refined Oils Reduced.

The Standard Oil Company of New
Jersey has cut the prices OF all it's re-
fined oils cent gallon in the Balti-
more district
The New York herald., 1922-02-25

u In the last two months OF the year
the report said. the plants were oper-
sted at only So per cent of capacity.
1ietter business through enlarged rail-
road buying is expected this year.
The New York herald., 1922-02-25
MONEY MARKET.

FRIDAY, FEBRUARY -.
ligh. h............... 5isYear's high......
Iow............... Years low. 2
TIME LOANS.
Mixed collateral, 60 20 90 days 1Dn,
Ffixed collateral, 20 q months 80. sgs,5
lndustrials, go 10 30 days........... 4s.0J
lndustrials, TO months. 4NSDS
COMMERCIAL PAPER.
Best names, 20 months. ths.......... S
Other names, 90 months. ths.........., I
DISCOUNT RATES. RESERVE BANK.
Commercial paper, 'i5 days ~ GO TO 90
days, AZ: Liberty bonds and Victory notes
pcoeptanccs. IL 20 90 days. AZ.
'FiIed November .. Previous rate, 8.
fAed September 81
OPEN MARKET RATES.
call loans and acceptances ........ 1tes
Discount rates on prime bankers accept
,.ocs eligible for purchase by Federal re-
lefvo banks
Bid Ask. Bid. Ask.
sS ssSS day.. ssy....:.. Il iaS 20 day. Ssy. Z:
CLEARING HOUSE STATEMENT.
Clearing House exchanges, S774, 400 600 /:
L1lancea, $40 NO0, 900: Federal Reserve credit
balances, si9.700,00O.
SILVER MARKET
official bar silver IN New York. domestic
nlssc., unchanged. foreign. G3ihc of 7sc
london. 32ssd., Off SD. Mexican dollars
Range OF silver prices this year.
Highest. Lowest
4 London ..... 35iSd., Jan. 3 32ssd. Feb q
New York -. 66.sc.. Jan. 10 64asc.. Feb is
The New York herald., 1922-02-25
EXPORTS FROM NEW YORK.

Exports from New York yesterday wheat.
1895 bushels: corn. 265.9sj bushels; oats.
b 20 260 bushels, rye. $1,000 bushels; barley.
2npOO bushels; peas. ZOO bushels; flour,
10 027 sacks. cornmeal GGi barrels beef
va barrels: beef, IS tierces; bacons, .492,
600 pounds; lard, 2,556,00T pounds; lubri-
baes: oil meal 2.i72,0 pounds oil cake.
sol 900 pounds.
The New York herald., 1922-02-25
FAR EAST.
SOUTH AMERICA.
CANADA.
prNSsyIyANIA CRUDE OIL.

New York funds In Montreal. s2T15 pre-
mium a 81 900: Montreal funds in New York,
$40 IS discount 81 600.
The New York herald., 1922-02-25
FOREIGN MARKETS.

LONDON, Feb. 24.-Prices moved ir-
regularly on the Stock Exchange to-day
Oil shares were firm and British indus
trials steady. but the tendency was
downward in the gilt edge section. Prices
at the close of the trading follow:
Bar silver, 32%d. an ounce.
Bar gold. 93s. 10d. an ounce.
Money, 2% per cent.
Discount rates-Short bills, 3is per cent:
three months bills. 3hT3f. per cent
Two and n half per cent. consols. Jols.
British per cent. war loan. o6ls.
British AZ per cent. war loan, 3D.
De Beers, IL
Rand Mines. ..
The New York herald., 1922-02-25

OIL CITY, Feb. 24.--Credit balances. &C. %.
Runs. i0i COS average, "a ,55J Shipments
AZ, ,4S5 average, 4s 500.
The New York herald., 1922-02-25
AFRICAN DIAMONDS
TRADED IN ON CURB
Anglo-American Corporation
Stock Sells Openly for FRS
Time i'm U. S.

Following the successful -sGrpnple OF
the introduction to the New Yaff< ssarket
OF the American shares of thr Roya'
Dutch Shell Compay and AZ fhe -
Beers Mining Syndicate, so-caasca Amer
lean shares of the Anglo-Americar
Corporation of South Africa. Ltd, were
traded in yesterday for the FIST time I'm
this country on the New York Curb
Through the efforts of William Boyce
Thompson. arrangements were made to
list sufficient number of shares of no
par value stock against foreign shares
of f1 par, which have been deposited
with the Guaranty Trust Company. }.
p. Morgan 4 Co. about four years ago
acquired substantial interest in this
company, which heretofore had been
exclusively in British control. Other
American interests also made invest
ments in the company, which is one of
the worlds largest producers of dia-
monds and gold
Directors of the company include Sir
Ernest Oppenheimer chairman; Hon. II.
Crawford, John w. Finch, w. l.. Hon
mold. w. L. Hudson. Hon. II. C. Hull,
F. r. Lynch. Walter McDermott w. j.
OBren and Charles II. Sabin. The
company also has q New York commit
tee composed of Z. r. Stettinius, chair
man; John w. Finch, w. l.. HonnolG
and c. II. Sabin, with Thomas Cochran.
Charles f. Aver, Edgar Rickard and
William c. Potter respectively as alter
mates. It's authorized capital is $4,000.
600 in shares of fl each, of which
3,194,02S are issued and fully paid
Each American share will represent five
foreign shares deposited with the Guar
anty Trust Company.
The Anglo-American Corporation ef
South Africa Ltd, is directly or ipoi-
rectly the largest shareholder in the
following companies, with a correspond
ing voice in their administration
Capital in ordinary shares
The New York herald., 1922-02-25

PARIS, Feb. 24.-Prices of securities
traded In to-day on the Bourse were
heavy. Quotations at the close of trad
ing follow:
The New York herald., 1922-02-25

The COrpOTAtIOH dISO IttS HOIuIfSb TT
other companies and valuable partici-
pations in undeveloped mining land. The
greater part Of the corporations inter
est in the Consolidated Diamond Mines
of South West Africa, which is the out
growth of a merger of the ten principal
German companies operating in that
colony before the war, Is in the form Of
per cent. debentures, convertible into
shares at par any time prior to October
|, 1929.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-04-06
East Room
Specials

Buttermilk Soap; Friday -
and Saturday, a bar. ...... ~
Or dozen, 55c
A large assortment East Purses
in genuine leather, all colors,
values from $3.50 to $500; Fri
day and Saturday GO OE
special pAeOC
Yelling by the yard in all the
new shades and patterns, values
from Coo to 75c yard; 40.
Friday and Saturday, yd. fCC
Stationery Spectacle sheets,
"a envelopes, in a fine quality
of paper, regular 45c; Friday
and Saturday, special 90.
DIT NV
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-04-06
MRS. EVA BLACK ENDS
Term AS PRESIDENT
DISTRICT REBEKAHS
Especial to the Palladium)


NEWCASTLE, Ind. April Cleo
ton of officers in the afternoon and
degree work in the. evening were the
principal business of the fifth semi
annual district meeting of the Rebek
abs at Newcastle Wednesday.
Mrs. Eva Black, of Richmond, or
ganizer for the eleventh district and
the first president, was succeeded by
Mrs. Docia Fred, of McCordsville
Mrs. Grace Byers. of Newcastle, was
elected vlce-president; Mrs Mary
Walker. of Hagerstown, secretary, and
Mrs. Amelia Goss, Middletown, treas
urer
An address was made to the dele
gates during the afternoon by Mrs.
Eva McDaniels. of Shelbyville, state
assembly president. A program of en-
tertainment also was presented, with
a reading by Mrs. Eta Sharp, of Bos-
ton; a reading by Miss Janet Morris !;
a cornet solo by Miss Thelma Rum
MEL and vocal solo by Mrs. Myrtle
Book, all of Newcastle.
Degree work was performed by Vic
toria lodge No. 1876 of Hagerstown
Sixteen lodges from Wayne. Henry
and Hancock counties were repre-
scented at the convention, with one
lodge from outside the district. 1t
was decided to hold the next meeting
in October at Fortville.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-04-06
Appoint Students to Look
After Commencement Plans

A committee of five students have
been appointed by the graduating class
of the high school to have charge of
all commencement activities during
commencement week. They are Mar
ston Hodgin. Irene Jarra, Virginia
Livingstone. Wesler Scull and Lois
Hubbard. Subcommittee will be ap-
pointed and each of the first five will
be the chairmen of the respective
committees.
The activities which the committee
will have in charge will include the
class night, class exercises and COM
mencement
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-04-06
FINDS OVER go PER CENT OF
VETS HAVE TUBERCuL OStS

BLOOMINGTON, April 6-Exami-
nation of a majority of 1900 former
soldiers of Monroe county has reveal
ed that so to 80 per cent of them have
tuberculosis in some degree, accord
ing to an announcement made recently
by Professor S. d. Watts, of the eco
nomics and sociology department at
Indiana university. The situation
among the country's former service
men is serious, Prof Watts declared
Historians locate the Garden of
Eden in Mesopotamia, between the
Tigris and the Euphrates.
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-08-14
CHILO'S SAFE RECOVERED.

Purser Pres Ellison, the Oldest
purser on the Ohio River, Friday re-
signed his post with the Greene Line
on the Steamer Greenwood, after hav-
ing served the Greene Line for the last
16 years. Ellison is the Oldest purser
in the Cincinnati and New Orleans
trade. He entered the river business
during the Civil War and has been a
purser on steamboats, more than 60
years. Ellison was on the steamer
Chilo when she overturned at Govern
ment Dam 35 at New Richmond, Ohio
last year. Government engineers had
the wreck of the steamer Chilo cleared
up and the safe in the purser's Office
was recovered. This was opened al
Fernbank Dam Friday and the COM
pany's money and $3.50 belonging to
Ellison was found intact. The money
was turned over to Ellison. He said
he believed it was a good omen, SO he
decided to retire. He 8 more than so
years old. He says he intends to pass
the remainder OF his days with his
relatives, enjoying an easy life. - Gin
cinnati Enquirer.
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-08-14
PLACING A PRICE ON THE CHURCH.

price the who attends church services
more regularly place the institution without whose pres
ence community he would not undertake to make nome OF
conduct business?
minister holder than the rest printed the following
in his church recently with considerable effect
81 am 25 cents small buy quart of oil; I'm too
small to buy pound candy I'm too small to buy ticket
god movie show m too small to buy box OF ndeteeaO
rouge people think I'm some money which come 10
church,
Perhaps the who put quarter in the offering does not
consider that putting value the church. but he u.s. pra
ta appang stamping mark upon 1t so far as he
is He finds everything provided and everything free
offering which purely voluntary He assumes no obga
ton the doors of the sanctuary and as matter oil
accepts invitation of Isaiah to take everything which re-
gon offer without and without price He has not
informed of maintaining the church in his
community needs of the world home and abroad to
which the generously responding week after week
magic by which the churches financed Some
one daily toll contribute in the agg
gate which support institutions OF religion and keep the
of the world alive.
AS friendly critic of the churches wrote recently
easy slam the church. it is hard to replace it. Any
off article for light magazine critics
the church and pokng fun the pastor but who offer sub
church, Who forward with institution
the and Sick that sends
of the earth salaries that out most OF the
money all service and for Armenans and
educates how poorly the in ethics that
crisis of BIRTH and death, with uplifting
sancyng attention. that the profound change human
nature called conversion7 ~
Mr. H. g. Wells who placed Christ first all the
great who lived EARTH and who said of him
world began be different world from the day His doctrine began
preached every wider understanding and
good will the direction of brother
hood which He proclaimed
Men will generally, almost universally, agree with Mr. Wells
forget distinguished American
said recently the Church the only organization in
world with which make possible binder
for preserving Only the Christian gospel OF brother
spiritual foundation that will make
peace possible
Yes, the Church worth than a quarter.
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-08-14
HARVESTING SPEEDING UP
INTEREST IN COVER CROPS.

Lexington, Ky. interest lii the Use
Of cover crops to protect fields from
erosion and teaching during the win
ter continues to grow in many sec
tions of the state as the Kentucky har-
vest season progresses and fields are
left bare according to r. E. Stephen
son. extension specialist in soils from
the College of Agriculture Galloway
county farmers are the most recent
ones to join the movement, plans hav-
ing been started in that county to
have every tobacco field covered with
a growing crop during the winter. Rye
will be used in practically all cases
| except where wheat is grown as a reg
ular farm crop and seeded after to-
bacco. Farmers nj the county who
never before had used cover crops last
year seeded 1000 acres Of rye for this
purpose and an attempt will be made
this year to have the acreage in
creased
1
in the fall to some crop that will pro-
tect the soil from erosion and teaching
during the winter" Mr.. Stephenson
says. The more sloping the land and
the looser the soil the greater will be
the need for protection Of this kind
Tobacco fields furnish good ex-
ample Of the kind that are particular
ly in need of some growing crop for
protection during the winter. Tobacco
is carefully cultivated, not a weed is
allowed to grow and the soil is left
fine and mellow. When fal and win
ter rains come, the water flows unre-
tarded over the mellow surface taking
with it the rich surface soil that con-
tains the manuse and fertilizers which
were applied to the growing tobacco
crop.
Much of this loss can be prevented
by seeding a fall crop such as wheat,
barley or winter oats which are sue
cessfully grown in certain sections of
times crimson clover, also are used
successfully. Rye is extremely de-
pendable and when seeded with vetch
makes an unsurpassed covering re-
CARELESS of whether or not it is used
for grazing or later turned under as
green manure. One bushel of rye
and 10 to 20 pounds of vetch an acre
is good rate of seeding.
in order to do the best work in
saving plant food the cover crop must
be seeded as early as possible. This
makes is possible to save the plant
food that would otherwise be lost
through the action of the warm fall
rains"
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-08-14
HORNWORMS START ANNUAL
RAID ON TOBACCO PLANTS

Lexington, KY, - Tobacco growers
are facing the annual ask of Kidding
their plants of hornworms, recognize
ed as the worst insect pest of the croI
in Kentucky, according to H. H. Jew
EFT, entomologist at the Kentucky Ag-
ricultural Experiment Station. The
adults, or moths, appear from the first
week in June to about the middle OF
August while the maximum number
of worms are apparent in the field
about August 10, he said. The worms
are SO destructive that tobacco could
not be grown successfully without the
use of control measures for them, he
added.
Hand worming cannot be relied up
on to keep tobacco free from the
worms even with the most careful ex-
animation of each plant while Paris
Green, which formerly was used quite
extensively to kill the pests, is giving
way to arsenate Of lead. The latter
material adheres to the plants longer
than does Paris Green and therefore
IS more effective while it rarely in
lures the plants even when an eX-
cessive amount is used. This material
has an added advantage in that it can
be used during period of unsettled or
rainy weather.
The arsenate of lead is applied to
the tobacco by means of dust gun.
The old style guns are being replaced
by those with fans ten inches or more
in diamter and having special devices
for preventing clogging at the outlet.
Where it is necessary to use an old
style gun, the arsenate should be
mixed with an equal bulk Of sifted
wood ashes. The busting should be
done when there is no breeze, either
in the morning when the dew is on the
plants or in the evening. An active
operator con dust several acres in 6
day.
Under average conditions from
three to five pounds of the arsenat'
an acre is sufficient for one busting
At least two dustings should be mad'
while third is sometimes necessary
Where it is necessary to apply the poi
son as spray. because of the lack o
busting apparatus, from three to fiv'
pounds of the arsenate should be uset
to 100 gallons of water. Brands o
arsenate Of lead containing at leas
30 per cent. arsenic oxid, of which
not more than one per cent. is free o.
water soluble, should be used.