davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-02-22
NEW HAVEN LOAN
BY U. S. is FAVORED
Bankers Borrowing for Euro
pcan Maturity Is Best
Plan.

Bankers in touch with the New Haven
Railroad maturity situation declared
yesterday that OF the two proposals be-
fore the Interstate Commerce Comnlis-
sion the most desirable is the Govern
ment loan of s31, 10000 to enable the
road to meet its April maturity of
about $2S 200. 900 in full. No one can
predict Just what the commission will
recommend, but difficulties in the way
of obtaining an extension of even part
of the maturity are numerous and will
cause great expense.
In connection with the maturity the
railroad issued yesterday the following
statement: mo definite plan has yet
been decided upon with respect to re-
funding of the European loan and re-
ports circulated to the contrary are in
accurate. The New Haven has made
application TO the Interstate Commerce
, Commission for approval of loan from
the Government and any plan depends
upon the negotiations in connection
Herewith.
ut should he noted that a part of
the European loan is payable in sterling
as well as francs at option of the payee
and that sterling Is approaching the
dollar parity. Since the great fall In
French exchange. the sterling parity
and not the franc parity has been de-
manded by the payee. Moreover. of the
entire issue of s27, $50 900. about $l3. .40o, ,O0C
is payable in francs or sterling and
the balance payable in dollars. so that
if the entire issue were paid at matur-
ity, the saving would be about 10 per
cent. of s13, 100000, or s1,34o,0Oo."
The New York herald., 1922-02-22
New Municipal Issues.

A total of s1.750.000 of municipal
bonds was awarded yesterday. An issue
of 100000 of school 5s of Charlotte.
N c., due in 1929 to 1856 inclusive. was
awarded to the Charlotte National Bank
for the account of Curtis & Sanger at
1o015. An issue of $65o,00O of the city
of Omahas sewer park and police sta
tion 5h per cent. bonds. due March.
1912. was awarded to the Wells G.
Dickey Company, Minneapolis. Eldredge
& Co. and w. A. Hartman & Co. at
1851. There were twenty-one bids for
that issue. To the National City Com
pany of New York and Eastman. Dillon
& Co. 100000 of street and sewer ~
per cent. bonds of Durham, n. c., due
1924 to 1862. inclusive, were awarded at
100000. None of those issues has been
offered. but an offering will be made
probably tomorrow.
The New York herald., 1922-02-22
INVESTMENT NOTES.
A New York Central Bond.

A New York Central issue. particu-
larly interesting because of a change
in status in recent years. is the Lake
Shores collateral trust 1as due in 1898.
They were secured originally by pledge
of $45,2S9,200 of the Lake Shores cap
ital stock. The deed provided, however,
that the New York Central could not
place another mortgage on the property
without including these az per cent
collateral bonds as a prior lien thereto
AS a result of the consolidation of the
Lake Shore & Michigan Southern Raj
way in December. 1914 and the creation
of the New York Central's consolidation
mortgage, the bonds are now secured
on all mileage and other property COW
cred by the consolidation mortgage but
prior thereto on the property of the New
York Central over the former Lake
Shore and Michigan Southern Railway
The bonds are now direct lien on
2.SS0 miles of road, on sos miles of
leaseholds and on trackage rights. lands
buildings. securities equipment. &C.
They are selling on the New York Stock
Exchange at prices 20 yield shade
less than per cent They have sold
for 20 points higher.
The New York herald., 1922-02-22
Province of Manitoba -b,.

The list of-Canadian State and munich
pal bonds traded in here offers many
opportunities for conservative invest
ments yielding incomes considerably
higher than are obtainable from sim
liar American municipal bonds. A good
Illustration is the Province of Manitoba $
per cent. bonds of 1941, which are
selling several points below par and
yield well over per cent. and to their
maturity about $50 per cent. Manitoba
has grown rapidly In wealth and popu-
lation and has unlimited expansion pos
sibilities. The province is particularly
noted for stock raising and grain crops.
Its capital, Winnipeg, is one of the
worlds largest grain centers. Manitoba
ranked seventh in the Dominion in the
values of lumber and fisheries and sixth
in the value of mineral products in 1919.
Its population has grown from a little
more than 255.0O0 In 1901 to 613 900 in
1921. The annual value of its products
has increased from about $4,000, 900 in
1900 to more than S145. 100000 in 1918.
It's valuation In Manitoba in 1919 was
about s6S0,000,O00 and it's general
bonded debt in September. 1921. was
around $62 100000.
The New York herald., 1922-02-22
Foreign Currency Bonds.

The market for bonds issued in for
eign currencies, principally sterling,
has broadened considerably in the last
few months. 1t is estimated that more
than 1000 reputable dealers through
out the country are handling such
bonds. or course investors should use
great discrimination in purchasing
bonds in foreign currencies as many
of them are not safe invest
ments. On the other hand certain good
foreign currency bonds, particularly
those paid in sterling, offer many adj
vantages not available in the dollar
loans of similar character. For irf-
stance certain Queensland sterling
bonds compare favorably with dollar
bonds of that State issued in dollars
and dealt in on the New York Stock
Exchange. The Sac Paulo dollar loan
selling at 10l and redeemable at 1O5,
yields about 8 per cent. whereas its
per cent. sterling loan. issued in 1907, is
selling at 5Sh, redeemable at 100. and
returns about IL per cent. Several OF
those sterling bonds are payable I'm
three or four different currencies as
Swiss francs. French francs and Dutch
guilders so that II is possible sometimes
TO profit by rises in those exchanges.
At present II would be profitable for
holders of these bonds to watch Swiss
francs and Dutch gulders which are
both very high. Among the most active
sterling bonds are the Brisbane, Aus
trala. 6lAs yielding eih per cent; the
sydney. Australia, SIS and 6iks. Welding
6h per cent: the Queensland. 4ks.
yielding 69i per cent: the Brazilian IS
OF 1910, yielding ~ per cent. and the
Norwegian s1ss, yielding Z per cent.
The New York herald., 1922-02-22
Commercial Cable FIRST As.

A long term non-callable public util-
ity issue yielding about 5.57 per cent
to their maturity can be found in the
Commercial Cable Company's first mort
gage As, due in 1897. They are secured
by first mortgage on five transatlan-
tic submarine cable lines aggregating
10000 miles with their connections be-
tween the United States. England
France. Ireland. Nova Scotia and the
Azores and on the Postal Telegraph
Company's assets. The company's cap
ital stock is owned by the Mackay COM
panies. The bonds can be obtained in
denominations of 500. They enjoy an
excellent market. being listed on the
New York. London, Montreal and To-
ronto stock exchanges. A conversion
privilege makes the bonds convertible
into sterling debenture stock, on which
per cent. interest is paid at the rate
OF 1905 of stock $1,000 bond. Their
2 per cent. Federal income tax Is paid
by the company without deduction.
The New York herald., 1922-02-22
CnIIabIe and Non-Callable.

The disadvantage of holding bonds
subject to early redemption, is pointed
out by prominent investment house
which states it is becoming apparent
steadily with the general advance of
bond prices. Many such issues are SELL
ing for near or above their redemption
prices, which limits possibilities of en-
hancement in their market values and
might result in loss to investors in
cases OF their redemption. The proba-
bility of redemption of bonds bearing
high rates of interest is indicated by the
fact that when money rates have de-
clined after long imitation period, cor
porations have taken advantage of the
redemption privilege to refund their
bonds on lower bases. Most new bonds
issued In recent years are callable. but,
with little trouble, large number of
high grade long term non-callable bonds
issued by foreign governments and mu-
inequalities and domestic corporations,
can be found.
The New York herald., 1922-02-22
Foreign Governments Strong.

Trading in bonds was smaller yes
terday partly because of the approach
ing holiday. The character of the mar
ket was similar to that of Mondays ses-
sion and marked by continued strength
in foreign government bonds and weak
ness in local traction issues The break
i'm traction bonds occurred early in the
day and losses in that group were part
ly made up before the close. The de-
cline in traction bonds was caused
largely by publication of the Transit
Commissions valuations. Interborough
lrefunding IS opened at 62h in contrast
to Mondays opening of 641A but ad-
vanced to 631a. French, Belgian and
United Kingdom bonds were again the
most active although great deal of
activity developed in Japanese bonds.
The New York herald., 1922-02-22
LincoIn, Neb., OTerinc.

Watkins & Co. are offering 100000
of electric light plant bonds of the city
of Lincoln, Neb.. dated January 1, 1922,
optional on January /. 1923. and due
$4,000 a year from. January /. 1888,
to January 1, 1912, inclusive, at prices
TO yield 4.65 per cent. to their optional
date and 5 per cent. thereafter. They
are direct general obligations of the city
and legal investments for savings banks
and trust funds i'm New York. Connecti-
cut and other States. They are exempt
from Federal income taxes. The city's
net debt is about Is per cent OF its
valuation.
The New York herald., 1922-02-22
vick.burE. Shreveport & pac,f,c

The Vicksburg. Shreveport and Pacific
Railway Is the natural trade route form.
Ing the main line of the Queen and
Crescent route between Meridian. Miss,
ard Shreveport. and the shortest line
between the central Texas points rs Fort
Worth and Dallas and Southeastern
points as Birmingham. Atlanta, Augusta
and Montgomery. The company's bonds
arc given very high rating for secur-
ity and STABILITY. It's general mort
gage 5s, due in 1941. appear to be sell.
ing out of line at their present prices.
at which they yield to their maturity
more than 6 per cent. They arc secured
BY second mortgage on lSS.47 miles
or road from Delta, La, to Waskonl,
Texas. The first lien on that track r.
covered by the Vicksburg. Shreveport
and Pacific's prior lien extended 5s
There arc outstanding. however. only
S1.323,000 OF It's prior lien bonds and
si.922.000 of its second mortgage bonds.
The company's total funded debt Is out
outstanding at the exceptionally low
rate OF SiS.3f9 mile OF road. In the
twenty years since It's incorporation
the company has built up an enviable
record for stability OF earnings. and Its
management because of divcrting
large proportion OF its surplus earnings
to It's property improvements, has earned
n reputation FOR consistent conservatism.
Its earnings of tho last seven years have
averaged moro than two and thrce-ntIlr-
ter times Its bond interest requirements
The company's general mortgage bonds
arc followed by S2.t42,S00 of It's per
cont preferred stock and s2.S56,500 of
its common stock. Its balance sheet
shows an investment in road and equip.
ment of 50, fO629 or nearly Sc O0o. 600
IN excess OF its outstanding funded deb.
The New York herald., 1922-02-22
Now York cstvl baltimore A. OF
Ajax Rubber

Adams Exp Co
eli As ln4S
The New York herald., 1922-02-22
sal Securities Company, May Shera and
Henry w. Runyon of Jersey City.

sal Securities Company. May Shera and
Henry w. Runyon of Jersey City.
Mr. McDcrmott stated that although
they had experienced loss estimated at
more than 100000 on the 1000 shares
sold. tho chief grievance OF his clients
was that they had not been kept in
formed Of the progress made by COM
mttees formed by tho bank and other
creditors. In view. however, of details
given since the application was made
and assurances in writing that their
interests are being safeguarded and that
points raised will be investigated they
do not desire to enter the rehabilitation
proposed. In these circumstances they
would file no aflidavits IN rebuttal and
would ask dismissal OF the complaint
The defendant'A answer was offered
The New York herald., 1922-02-22
FOREIGN INTERNAL BONDS.
FINANCIAL NOTES.

The American Exchange National Bank has
preparod for free distribution list OF mem
bcrs and standing committees OF the United
gtates senate and House Of Representatives
on February 4
Mccartney & Mclean. u Broadway, have
issued p circular giving details Of the Guffcy-
Giliesple Gas Products Corporations 8 per
cent cumulative preferred stock.
THE Bankers Trust Company of New York
has been appointed registrar OF the preferred
and the common stock a the Chaplin Dairy
Stores, Inc.
The New York herald., 1922-02-22
JUDGE DENIES COLUMBIA
GRAPHOPHONE RECEIVER
Petitioners Join in Asking
Dismissal of Complaint.

WItMINGToN. Del. Feb. 21.--Judge
Morris in the United States District
Court to-day granted a dismissal Of the
complaint. with costs to the petitioners.
for a receiver for the Columbia Graph
ophonc Manufacturing Company, At
the same time the court denied the APP
plicatlun FOR rcccivcrship.
Walter +. McIDcrmott of Jersey City
and William q. Mahanfy Of Wilmington
represented tho petitioners, the Univcr-
The New York herald., 1922-02-22
Average Bond Prices
February eI. 1922.
BOND NEWS AND NOTES.
Cnnadinn Loan Cominr.

Although no definite negotiations are
under way. bankers in close touch with
Canadian conditions expressed yester-
day the opinion that a Canadian Gov
ernment flotation in this market would
be a March event. If any such loan
be issued here. it Is likely to exceed
S1O0, 600. 600
The New York herald., 1922-02-22
Roads Seek Authority to Borrow

The Tennessee Central Railroad has
filed with the Interstate Commerce
Commission an application to issue s3.-
100000 Of its first mortgage bonds to
pay for its property. additions and bet
terments and new equipment. The Blr-
mingham and Northwestern Railway
asked authority to issue 100000 of its
first mortgage 6 per cent. refunding
bonds TO pay off like amount OF its
first mortgage per cent. gold bonds,
due on March /, 1922.
The New York herald., 1922-02-22

V.... .pf
All Coast Line Cent ~ Geore,.
~ " -: ~ io-yr 6s 1870
Atlantic Fruit Cont ieathc-
Is i71f ia p. ,o9s
The New York herald., 1922-02-22
Cleaning Up Undige.ted Bonds.

So great an inquiry for undigested
State and municipal bonds has devel-
oped and their incoming supply is so
small as to permit syndicates carrying
such issues to dispose of great many
of them. The total for sale has been
reduced more than SO per cent.
The New York herald., 1922-02-22
INDIANA prpE LINE GAINS.

The Indiana Pipe Line Company's an
nual report for 1921 shows net income
Of s1.163.55o. after taxes and depreci-
alton. or s11.63 q share earned on SIS
capital stock, IN contrast to s95s.30i. or
s9.5S a share earned In 1920. Total
dividends for 1921 were 100000. ieav-
Ing surplus Of sS63.5oo.
The New York herald., 1922-02-22
Jacksonville want. Bids.

The city of Jacksonville. Fla. will open
bids on March on s2.000.000 of its s
per cent. Improvement bonds. dated
April'1, 1922. and due on April /. 1881.
The New York herald., 1922-02-22

by Herbert II. Ward of Wilmington.
their counsel
George S. Franklin Of New York. rep
resenting bank creditors, merchardise
and supplies creditors and noteholders,
said their expectation was to tide mat
tcrs over to successful conclusion. A
short affidavit by NJ. NJ. Buckner of tho
CREDITORS committee was read.
The New York herald., 1922-02-22
rrNNsyr.yA~i, cIi

II FIFTFf ' Y lNINIf IIfls
OH, CITY Feb. 2i.--Crrdit balances. 81 %.
Runs 1859, average 5J,s0G; shipments 60.
600 average J0.622.
The New York herald., 1922-02-22
Lsckawanna 80
LIST IS a 1850

Continued on FQlowiss Page.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-07

"Woof. Nonsense" growled Daddy
Dog. glaring at Ilopplty- Hop Rabbit
over the tops of his spectacles. "You
oversight this morning and had bad
dream. l have hunted these woods
through and through and never have |
seen such c monster as that"
oh 90! lloppity Hop Rabbit had
nightmare. ieered the rabbits and
squirrels, their fears turning to laugh
ter.
But Hoppity Hop Rabbit stuck firmly
to his story. ''No, it wasn't n night
mare he insisted. II was wide awake.
l heard this roaring. bowling monster
with my own ears and ! saw 1t rushing
through the woods as plainly as ! see
Daddy Dogs nose.
Daddy, Dog wrinkled up his nose at
this and sOlemnly scratched one ear
with his hind foot.
Did you ever hear of monster
like this!' he asked Jack and Janet.
The children shook their heads.
Where did you see the monster"
asked Jack.
"iOu have heard of the long. white
dancing floor for rabbits which men are
building through the woods:" he asked.
Jack and Janet shook their heads. No,
the news ABOUT the long white dancing
moor for rabbits was as strange to them
as the news about the roaring, howl
ing. swift running monster.
But the animals nodded their heads.
and SO did Daddy Dog.
1T was along the long white dane
Ing floor the monster rushed" ex-
planned Hoppity Hop Rabbit.
"Woof! ] never have seen that long
white dancing floor for rabbits" barked
Daddy Dog. II think I'll dismiss school
for today and take n look at it. Per.
haps the monster will come back."
'Oh.oo.' said all the rabbit and
squirrel pupils. I'VE will go with
you. Though they were shivering at
Hoppity- Hop Rabbits story. they were
very curious to see the monster which
had scared him.
And 50 were Jack and Janet.
(ln the next chapter they see the
roaring, bowling, swift running mon
ster. Can you guess what il ist)
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-07
CHAPTER I
HODpity Hops Strange Tale
rXnDpITN IDD RARRIl, hurst nl

WGDpity Hops strange Tale
uOPPITY. HOP RABBIT burst out
L L of the woods and bounded right
into the middle Of Daddy Dogs school.
His long ears were fiat on his back, his
whiskers we're twitching. and his cot
ton ball tail was quivering. He was
shaking with excitement.
"Woof What rowdy way to come
to school. Where arc your manners:'
Daddy Dog growled these questions as
he glared at Hoppity Hop over the tops
of his spectacles.
Hoppity Hop Rabbit shivered so he
stnmmered In answer: IL BIB beg your
pardon, teacher. IL g-g-guess my
m m manners were scared out Of me
by the fright | got
"Woof. what gave you fright|' de-
manded Daddy Dog. "Was it hunt
ing dog?" Daddy Dogs looks said that
il it were u hunting dog the hunting
dog had better not come there or he
might get thrashing.
"N-n-no. 1t wasn't a hunting dog ~
gasped Hoppty- Hop Rabbit. 1T was
worse than hunting dog"
WAS it hunter with gun?' asked
Jack.
gun" Hoppity- Hop Rabbit glanced be-
hind him into the woods and trcmbled.
1T was worse than hunter with a
gun"
WAS it a wildcat or a wolff" asked
Janet.
"N-no. 1t wasn't wildcat or a
wolf. 1t was worse than Il wildcat
or wolf"
"What was II? What was - Choir
used all the rabbit and squirrel pupils.
1T was monster gasped lIoppity-
Hop Rabbit. "A monster bigger than
any beast in the forest. A monster that
runs more swiftly than the wind. A
monster that roars like the surf in Il
storm. A monster that howls louder
than whole pack of hungry wolves. -
"Oh oo," said all the rabbits and
squirrels in awe.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-07
.DREAMLAND ADVENTURES
The Rabbits Dancing Floor
by DADDY

Last reek Jack and Janet met
Daddy Dog. rise old setter rho is
teacher in a school for rabbits and
squirrcls.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-07
AUDUBON

HOW MUCH LONGER are you going TO re-
main in the crowded city or in that two-by-
four apartment? Are you still going to sub
Ject your children to the likelihood OF being
run over at any minute? 1s It your Intention
to swell the pocketbook OF the landlord all
your life? Do you realize II is high time
you were doing one of the most important
things in life that man can do. namely,
owning your own home? There Is no mystery
Just how this can be done II you were sick
the first thinG YOU would do would be to
call upon doctor; II your shoes needed
mcnding you would go to q shoemaker: if
you are desirous of building a home and
haven't all the money TO do so. the proper
thing to do IL 20 place your confidence in a
reputa bic real estate man, but before doing
SO Investigate and find out for yourself that
he is On tho level Hero Is my proposition {:
I am selling tots at Linwood. right at Mount
Ephraim station, which adjo!ns Audubon.
I am also building homes In that location
and have a sample house which would like
YOU to inspect The price Is $4,000 or the
lots can be purchased on as little as so
down and IS per month In a short space
of time IL VIII be impossible 10 secure any
thing in this location ct anywhere near the
figure they are selling for at the present
time You do not have to wait until your lot
is paid for to build your home and your title
is guaranteed by tho West Jersey Title and
Trust Co. and YOU make your payments d.
rect TO the Audubon National Bank. Our
cnrs are waiting to show you these lots. or
you may cali on the grounds by taking the
bus or train to Mount Ephraim. n j., or
rnn hp n
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-07
REAL ESTATE FOR SALF
CITY

1922 y. BROAD-l5 ROOMS; a2x.O0.
l52b Pnplhr-l3 rooms, browrstOnr.
lSls y, lGth--l5 rms. hO'-wHtor heat. C'ec
1888 y: l5th-lI rooms. 2 baths 2GxiO6
1871 Wallace-lf rooms. . baths. electro.
8hS Park ave 3 rooms
$40 \, 2Oth--l2 rooms . baths
N w, cor ith and Vine slurl" p nd bmt
S2l y. 18th, ror.-COmms rCial blis
BE. Cor: 18th Parish. 5OxiO. store & dwg
lblO-l2 Sulcs--3 story garage.
n. W. cor. 18th WallHCc--lG apartments
lg2i Poplar--lG ronms: moIerr; 3GxljG.
1914 MHster-l0 rooms; vacant.
1TOS Wallace bRifS. modern heat, e,ec-
trr. hariw Ood GUorI. vacant,
aaoos Ealrmount Ave.-Stol" and dwelling.
2O4l - ~lrnount ave.--0 rooms.
212I Spring Garden Centennial l0CA'!0n
1s2G-2s y. 2uth and rcar-3Gy2l5, CONNER
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-07
WORRELL & CO., SIS N. 18th

.aae 18TH, rooms. hot air. rlec.
.S2I > Hemberger. rms, hot air. e!ec,
2sil 18th 7 rms. hot water eirc
1889 $. Ringgod, rooms. hot air gas.
th.2-.i 5. Taylor. ! rooms not air. elcC.
IARh NJ rn-Arr E-L nLr
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-07

5O3s PINE ST.-Sem-detaChed, thoroughly
modern, 3-stOrv house; lot 2OxllU IT tn"
first hOor has parlor. reception hall, dining
room, kitchen. laundry, second floor. sitting
room bathroom and bedrooms; third moor
: bedrooms attic oyer third floor for storG
purposes; hOt-water heat, eIeC. lights. papered
and painted throughout ready tor OCCupanCy g,
price, 81 1850. Wm. +. Dc!ison Il Co.. @0l
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-07
MOUNT AIRY
LOGAN
OPEN FOR INSPECTION TO-DAY

$3.50 n. 10Th st; rooms and BATH real
FREEMoNT & CO, North American Bldg.
bl2 ANNSBURY ST. - Modern; d rooms,
porch, hdwd floors. hot-water heat. elec,
only $4,000. Frick, Judson and Indiana ave.
preceding columns ~ '"''' WV '
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-07

HORSHAM HEIGHTS -Fergrson's bldg
lots, $50. s65, S75. ss5. 500. Sl25; on
DoylestOwn trolley line, 10 minutes above
Willow Grove Park IN Horsham village
highest elevation near Phils.. slOpinG to the
famous Prnuypack Creek; boating. bathing
and nshing; new concrete roadway from
City Lane; churches, schools. stores, hre,
house, etc; easy monthly payments; send
for booklets and plans Of bungalows.
FERGUSON, Front and York
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-07

OCEAN CITY. y. SEQ Park place; north
side: nicely furnished: 3 bedrooms; sn5o
until Labor Day.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-07
WEST rII:..tDEI.PHIA

COMFORTABLE 3-story dwellings for sale
OF them AZ iOth and Pine SITS. and some
OF them at 5Sth and willows ave, in the
center of Sherwood: We own these houses
and can finance them for satisfactory pur
chasers. c. PEMBl:KrON. Jr.. sl3 Harr!-
son Bids. Qjth and Marnet sts.l