davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-05-19
81, 500, 900 nv LOANS BY
METROPOLITAN LIFE co.
NeW York Flats Housing 438
Families Get 81, ,3OO,OO

The Metropolitan Life Insurance Com
pany authorized loans yesterday on real
estate amounting to more than $500
o00 or these about sa.000.0 900 were
housing loans which included loans on
ninety two single dwellings. mostly in
johnson City. y. s.. q manufacturing
suburb Of Binghamton in Memphis.
Tenn. with a few scattering Loans
amounting TO about 81 100000 were an
thorized on thirteen apartment houses
In New York city which will accomrno-
date 43S families. also one loan on an
apartment house in Memphis for thirty
families. the entire housing proposition
being for the accommodation OF 6o2
families.
About three and half million dollars
were authorized on business buildings
III number OF cities the principal loan
being i'm Boston a loan Of s2.000,000
was authorized on farms mostly in the
West. and few IN the Southern States.
The New York herald., 1921-05-19
SHIPPING NEWS.
CONTINUED FROM PRECEDING PAGE9


return 10 Philadelphia with barges Robe
sonia. from Fort Point, Cumru, from sears
port, calling, at Dutch Island for barge Bear
Ridge, from Provldenee) Gettysburg. Ph!la-
deiphia towing barges Moselem. Pickering
ceeded 10 Parkers Flats; VIII return here for
barge Thomaston: TO call n Salem for barge
cohansey and at Clarks Point for PaxtanG.
ali for philadelphia.
Arrived 1Sth sohr Horace Stone, Nor
folk.
Sailed 18TH. schrs Aleseus Hooper, Nor-
SAN FRANCISCO. cal, May lT-Arrived,
str Venezuela, Hong Kong.
Arrived 18th. str ~ l.obo (Br). Vancouver
motor schr Sierra, San Pedro. schr Tagua
Raratonga: 17th, strs Golden state. Hong
Kingsley (Rrl, Vancouver; Caigaroite (Brl /,
Sailed 10th. motor schr Canada (sw). Sc
attle: 1Tth, STR celebes Maru tJap). New
Orleans.
Sailed 1Tth. str E Lobo CBrl. Lobitos.
SEATTLE, Wash, May ls-Arrived. str
Cross Keys, Yokohama.
SAVANNAH, Ga, May 1S-Arrived. str ST
Johns County. Charleston.
Arrived 18th, str City Of Atlanta, Boston.
Sailed 18th, stre Schenectady, Bremen and
Hamburg; Charles II Cramp. West Coast
via Mobile.
SAfsDM, Mass. MAY l7-Arriyed. tug Wm
II NILS Norfolk, towing barge potoma,
cleft barge Monoeacy ~ Wings Necal
TACOMA. Wash May lS-Arriyed srt
West Catanace. Bonouu.
TAMPA, ela. Nay l6-Arrlved str Mar
viisi, Nsuvis Corona.
VINEYARD HAVEN. Mass. May 1s-Ar-
rived, tug Cheektowass, Perth Amboy fof
Bos ton, towing bsrges ZOE and 1ST tleft 7ag
and 797 al New Bedford.
The New York herald., 1921-05-19
INVESTMENT PARCELS
IN CITY SELL READILY

Income properties iu al sections of
East Side tenements were sold by Bryan
H. kennelly at auction yesterday in the
vesey Street Exchange Salesroom Two
Of the properties were disposed Of at
Thirty-second street, an eleven story
loft building. 50S9s. and 1911 Silver
street. Bronx, a two and a hair story
dwelling. 5ox10O
MIR Kennedy to close the estate Of
Bernard Courtney. sold llS aud leo
Seventh avenue and 203 and 2O5 Seven
teenth street. northwest corner Of the
two thoroughfares. three and ave story
buildings. to Henry y. Clanin for s62.-
900 The adjoining house, 207 West
Seventeenth street, three story tene-
ment. 20x75x Irregular, was sold to
William McClenahan for s14.750. For
the same estate was sold the northwest
corner OF Seventh avenue and SlXteenth
street. a four story building, 5oXs5, TO
Harry Newcomb for $4,000. No 307
West 107th street four and haf
story dwelling. l9xl00. was sold % Will
lam i whalen for $4,000 20 West
Seventeenth street twelve story loft
building. on plot 7SSe2 10 r.. Leitner
for s2l7, 500.
MI Kennedy sold n the suburbs 407
Union avenue. the southeast corner Of
East Fifth street Mount Vernon, n. ".
4 two ana q half story dwelling ll0x
Sg. to j. r. Mack FOR $4,000. The es-
tate. comprising ninety-onc acres al
Keewaydin. about ten miles from King
L Ina
sg.250 Mr.. Kennedy also sold the three
story dwelling Mt Grand View ayenue
and Cherry street, katonah n. I., for
Si3 500
The New York herald., 1921-05-19

Hayti. Lieut. Commander N. S Tisdais. 70
duty Naval Academy; Commander - a.
Weaver, ~ command l.. S =. Dolphin: CoIn-
niaudeu ". n. Webb. Al O., 10 duty, Naval
Hospital, Mare Island; Lieut. c. " Weber,
to Il. ;. s. Aroostook. Lieut.. 6. W. Wilson,
10 r. $. s. Minnesota. Lieut., Commander
=, NJ Williams. to, u. :. $. Pennsylvania
as First Lieutenant. Lieut.. r. A. Winnie 70
q. s. Philadelphia, Lieut. Leighton Wood.
- Sperry Gyroscope Company and Ford ln-
strument Company. Brooklyn; Lieut.. T.. a,
Zehner. TO r. :. $. Buffalo; Lieut.. James
Donaldson TO L. = $. Builard, Lieut.. Il.
r Thomas. to Y. S. s. Walker: Lieut.
l.nile Chourre, 10 u, S. :. Aroostook; Lieut..
w. W. Munsell. 10 u. $. 5. North Dakota.
The New York herald., 1921-05-19
STANDARD OIL LAWYER
BUYS SUBURBAN HOME
Gets The CrosslDays at Bed
ford HHIs-Other Deals.

Julia Beverley Higgens has sold for
Miss Eleanor Blodgett her place. the
Crossways. at Bedford Hills. y. y, to
Chester o. Swain. attorney for the
Standard oil Company. who will oc-
cupy H.
Pease & Gilman rented 10 John
Marble for the summer. furnished. the
estate Of Mrs. William a. Read, known
as Hill Crest. il Purchase. near White
Plains. y. y, containing 100 acies with
a large house. squash COURT, garage ten
mis- courts, sc. Il is near the estates of
Dom Barber. the architect; the late
Whitclaw Reid and Oscar Straus.
!. r. Hoosic Of Chicago. Ill. pur-
chased through Thomas $. Burke from
!. Grebe the residence at so Rockland
avenue, the Park Hin section Of Yonkers
Robert 10 Farley Organization sold
FOR Chester 4 Graham his residence on
Fisher avenue. White Plains, =. y. to
Mrs Caroline f., Tietjen. also for the
estate of William t. Rice plot in the
Bryn Mawr Park section OF Yonkers
~ ". to Harry Woodhouse also for the
estates ot Tsppan Dee 4 plot in the
Philipse Manor section Of Tarrytuwn
y, y. u Mrs Catherine Alearson Of this
city
Lewis II May Company sold from
plans for Pari, Chester Realty Company
Charles l. Apfel attorney, the store
property on the east side OF Park street
Long Beach. J.. J.. opposite the Long
Island Railroad station, 70 A. Bern
stein.
+. O. grimm and p "A Collins leased
in Larchmont, n u. for William r.
Mauguse his cottage and garage on
Bonnet avenue e. Arthur Frank: for T.
Conmerford Martin his cottage and gar
age on Grove and Woodbine avenues TO
Ralph Wolf. and Tor =. ~ Chatfeld his
cottage on Circle aud Cedar avenues to
Arthur Brusgeman.
PaNsou Mel. Merrill Company LEASE
furnished for David A Paterson 10 Wal
Ter A. Waskom his property on Ridge
wood road. South Orange, y. j.
Eugene " Welsh sold for Samuel
Graydon bis residence al ~ Ruthven
place. Summit. =. u, to Mrs Emma
Mann-yynne also for Robert e. Foote
: property on Mount Kemble avenue.
Morristown to Alexander Cochran also
leased FOR Mrs Florence T. Humbert 10
Henry n Douglas her residence on
Loanfaka Way Madison. y. J.: for
James Fra ser his property at Monroe.
=. j.. to George Aldred. and for Mrs
sarah l.. Merrell her residence at 40
Macculloch avenue, M9r1stown y. ].
t. supreme Court Justice Charles W.
Parker of Jersey CITY. y. J.
Fist s. Marvin rented Tor the SUM
mer. rurnj shed. tae property Of Bcrtram
q. Goodhue at BriarcllfC Manor to y.
H. Streit alfo fog the summer FUR
ulshed, tbe property of MIS- Msrie de
Falkowska on the Moune Airy road, AZ
Crotou on Hudson. 70 Mrs. Al. w Far
iey. and Tor Mrs Pauline Godson her
property on sunset Drive, Harmon on
Hudson. for term. furnished. 70 John
l. Dudley All the lessees are ~ this
The New York herald., 1921-05-19
MISCELLANEOUS LEASES.

Charles r. Noyes Company leased Of
fees in 50 Pine street 10 the Colombian
Commercial Corporation. Ltd. and Alex
ander D. F'eitelberg In 81 William
street offices r. Alexander y. Marvin
In 20 Wall street To Alexander Roman ::
for Robert y. simon offices in 81 Nassau
street 70 r Press 4 Sons. and for Frank
lin Petit the basement store ii aG Johr
street e James Nelson. represented By
Tankoos. Smith Co
Albert r. Ashforth me. leased Office
space in tho new Liggett Building. at
Madison avenue and F0rty-second
street. to the l., +. Hauserman Com
pany, Inc. also "a floor in 142 West
Twenty ninth street to Max Brickman.
Inc.
He'll & stern leased floors AZ follows
In ii and liz West Thirty-second street
70 Fanchon Dresses. Inc: IN 81 Union
square 10 Arnold stone & Co, Inc. III
30 and % University place the store TO
Progressive Furniture Company in 10
and 1i2 Fifth avenue 4 floor TO Zeemen
Bros In liz and 1i9 East Twenty
fourth street to Good WIN Cravats.
Inc. in c to 70 East Thirty-second
street portion or the eleventh floor to
Edwin kessler.
Hirsch < Friedman leased in 301 to
sos Seventh avenue. corner Twenty
seventh street. the Hfteenth ana nine-
teenth floors 10 Weinstein & Sorito .ani
RislSin Brothers at an aggregate rental
or 100000.
7 B English leased Offices IN tne Ro-
max Building 10 the knickerbocker Cal
lery. photCsraphers and 10 Victor
Wore store II 33S West F'ifteth street
shaw Rockwell 4 Sanford leased the
following stores III fS7 Central Park
West to Aglaia Argyris IN 226l Seventh
avenue - r. Nuznet IN 269 West Tweu-
ty-third stree, to the Postal Teiegr snh
Company. and Ii 1a72 Second avenue
10 Louis Rosen ana sam Gerstenhaber.
Peter Grim leased the store IN % East
Eleventh street e. Weber. Mack g. Seibel
Inc also subleased the second floor
Ia 246 Fifth avenue 10 the Positype Com
pany ~ Cleveland. Cruikshsnk Com
pany We're associated brokers. the same
brokers sublessed furnished Offices IN %
West FortS-third street TO the Angel In-
ternational Corporation.
Henry shapiro & Co leased the hrst
loft ia lie and t1S East Fourteenth
street to Chinese restaurant Tor twenty
one years at au aggregate rental ap-
provimating yi5n.o60.
DJr0ss Company leased H. the tyeyant
Electric supply Company store ard base
nent in 81 pey street also t. q n.
smith. lott IL So and 81 Warren street
The New York herald., 1921-05-19
AMERICAN PORTS.
lBy Nlan ]

CsHA,RI sESrOS. SC, May 12--Seiled, motor
schr Astoria, Philadelphia Gin tow OF tug
Barrenfork)
HONOLULU. May 1J-Sailed, ctr PennsyI-
We mia, Delaware Breakwater.
NEW ORLEANS, La, May 1+-Arrived, str
Pofsrine. Texas City.
NEW BEDFORD. Mass. May l8--Sailed.
schrs Lavoits. Catnwamteak, ana Gilbert
Stsncliffe, eastward.
PORT ARTHUR, Tex, May i4-Arrived, str
war sepoy tBrt. sheerness
SAN FRANCISCO. Cal, MAY l2-Arrived,
str Pacific, san Pedro.
sailed 19th. bark Star ~ Peru, ftyichnk.
s'r THOMAS. VI MAY 6--Arrived. strs
Fluor spar. Newport News Tor Peruambuco.
&C.: Cardona. New York for Bahia: SIN,
Lake Frazee, Norfolk for Para: Quitticas.
Port Arthur for Pernamnuco. &c; Western
Queen. New Orleans via MatsnZas for Mon
tevideo. &c land all proceeded, 9th, f.
Petrolero, Nav York for Mont-video.
TATOOSH. Wash, MAY l2-passed. schI
Alice Cooke, Port Angeles FOR Honolulu
The New York herald., 1921-05-19
KAHN REALTY TRANSFERRED.

otto Vi Kahn and lis wife Addie
Kahn, have transcribed property in
Nassau ana Suffolk counties, Lang ISL
ana. valued ~ more than S2,O00,0o0 70
he Ohcks Corporation 81 Woodbury..
L II. 0f which Lawrence II. ASman and
waiter S Dryfoos. lawyers ~ ~ Broad
way. ave directors. each holding two
shares ~ stock. a few weeks ago MI
Kahn likewise transferred hts residence
at Fifth avenue and Sivty-eighth street
rs 4 holding corporation. Ii is believed
that tho transfer was made BY Mr. Kahn
for personal reasons affecting bis per-
sonal taxes
The New York herald., 1921-05-19
AIR LINES TO FLORIDA
AND THOUSAND ISLANDS
Incorporation Papers of Com
pany Are Filed.

Air lines 70 the Thousand Islands 50
close 10 Canada y and to Florida NEAR
which lie the Bahamas and Cubal are
projected by the United states Airways.
Inc. for which certificate or incor-
poration was filed yesterday with the
County Clerk. The incorporators in
clude james Taylor Lewis, lawyer. %
Al Prospect drive Yonkers William H.
warburton OF Alexandria Bay. y. y;
Jay Hertz Of 7o9 Sixth avenue Mars
ovendon Of 6s St Nicholas place and
Charles NJ Bayer Of EOS rnderhlll avc-
nue.. Brooklyn.
The aim or the corporation is 10 buy
and build flying machines and to trans
port passengers and freight.
The New York herald., 1921-05-19
nno>x TRANSACTIONS.

Joseph Sager bought from client of
William 4 BHker the nre story apart
ment house. l02.6xie0, st 1855 Crestou
avenue. $50 feet north of fremont aVc-
nue. The house wa. completed IN 1920.
shows rental ~ $4,000 and was held
Al sg25.10O
Samuel Rosen ~ Mount Vernon sold 10
the Fusion Realty ana CGnstraction Com-
rany. JoseDr kleiner president. i've lots
on University avenue 80 feet north of
t90th street The purchasers have started
cvcavatiug fof The erection of Ave story
apartments
Harry Calm sold 70 kriepsfeld Realty
Company. Inc. the block front al 9i0 10
alf Molrose avenue. northeast corner 81
l62d street consisting of apartment
houses stores and dwellings Edward
polas. Inc. was tho broker
s. r. Aronds Company sold rot Nor.
ris Kessler 1912 Topping avenue. on 4
lot 25x100, two family frame house
or thirteen rooms
The New York herald., 1921-05-19
QUEENS noRoucH MARKET.

Lewis ti May Company sold niot of
lots on the east side " Beach Thirty
seventh street tdgemere. r. T.. 70 ?
client. who viii Immediately construct
sixteen one family houses.
Rlckert- Brown Realty Company sold
~ James NJ Martin q two STORY dwell
nu 81 the corner of Ditmars avenue and
cbauucey street Arleish Queens
William r Jones' sold Tor Ellen Kenuey
and others to kathry j. Grace tho ak
lots. each 25Xi0o. on the east side OF
Maple street, 100 feet north OF Eayviev
avenue, jamaica South.
The New York herald., 1921-05-19
Residential LEASES.

Douglas IL Gilman \ "a. leased a
large spa rtment III 80 Park avenue
corner Sixty-first street 10 G M Has
ketl formerly Governor or Oklahoma .
also an apartment fl 30 West Fifty-ninth
street for Pease N Eilman. agents. to
Miss Mary A Dickson IN ~ East Seven
tv-seventh street 10 Pew Dr william
prall also IN i29 East Seventy sixth
street 70 ~. Constantine u mcclure
PaNson Mol. Merrill Company leased
4 studio apartment III 140 West Fifty
seventh street 70 Haze Woiliald in ~
West Eifty-Second street 81 Arthur
Fioyd-Jones and IL G3 washington
Square South 70 Robert y Anlck
retor Grim leased su apartment III 40
East Seytnty-seycnth street to Airs u
W. stafford Jr Worttington White
house was associated broker.
The New York herald., 1921-05-19
REAL ESTATE JoTTINGs.

Haggstrom- Callen Company has been
appointed agent Of tho five story apart
inent house at the southwest corner OF
Amsterdam avenue and Sixty-seventh
street
Peter Grim has been appointed agent
Of the Schemerhorn Arms ct 81 West
Fffty-second street
The New York herald., 1921-05-19
y rHE AUCTION ROOM.
fit yEsEy STREET
Nv lnaenn p pnA

stanton VI e47. 4 q u wnett al. i5y7s.
J-sty a. A-sty rear tnmt, Chas Lee ma
and II e. al aEt kate Connold Ct ai Edn
I rfeat. atty. dYc. Sc9.13t tRXee etc.
81 rat CO; ~ .t1e plaintiff far SIS 600
Ave a, tfl8, N r, gist 81. 2aXgi s4Rty
tnmi 4 str. Alice G Williams agt Margaret
A Davis Ell ai. Alexander 4 Green. atfvg
due. sio oeagi 'ases, etc, t21q so. 10 tho
plaintiff fet sipso0
The New York herald., 1921-05-19
Negro NIasons VIII Build.

As site FOR $500 900 Masonic
Temple, the Prince Hall Grand Lodge
r. & A. NJ, David W. Parker president
has purchased q plot III the corner Of
Seventh avenue and l44th street. II
viii be the most costly temple belong
ius 70 negroes in this country and work
will start June 3. II. =. knowles. archi
tect. WHO drew the plans TO. the Mason
lc Temple on West Twenty-fourth street
will design the propo sed structure,
The New York herald., 1921-05-19
DEPEW CALLS ON HARDING.
Goes 10 white Honse with New
story for President.
New York Herald Bureau.
MaShington, ID. g.. Nav ts,

Chauncey NJ Depew lamented on his
STth birthday that thore were no new
stories, and he had heard none FOR many
days Mr Depew went 70 the White
House to-day II was reported that he
had AZ last discovered a good one 50
good that 40 resers cd Ii for the presi.
dent &c the United states.
AZ least Mr.. Depew called 70 nav his
respects 70 Mr. Harding And Of course
he told the President story. but * is
an exclusive secret, At least for the
present. Mr. Depew said that he had
Maid his respects 20 every President
from Lincoln down
The New York herald., 1921-05-19
o.. SHOT SELF, NAY RECOVER.

ATLANTIC CITY. May 1S--William
Warnock. the ninety -two-year-old re-
cluse who shot himself in the head
yesterday. was still alive tonight, and
il was said at the WassoHar Hospital
that he has a chance Of recovering.
The bullet was extracted :his after
noon. and for a while WarnoclS was
conscious WarnoclS had been regarded
as eccentric, keeping closely 10 his
apartments. although apparently in
good health
The New York herald., 1921-05-19

The Brooklyn Jockey Club has applied
to supreme Court Justice Callaghan. in
Brooklyn for a reduction Of the assess
ment on It's old Gravesend Race Track
property from s23,5SS 10 S2.5SS The
club sets forth that the high assessment
was made to conform to street openings
and sewer installations, which have not
yet. been provided by the citN.
The New York herald., 1921-05-19
ANOTHER BUILDING
FOR CENTRAL ZONE
Joseph Zubow Leases Site on
Madison Ave. Corner for
5000. goo Project.

Joseph Zubow who recently bought
lie Marlin Rockwell Building in tn
Grand central Terminal zone and quick
II resoid i 10 August Heckscher, has
acquired sixty-three year lease Of the
former Schmidt property. al S43 and
3f5 Madison avenue, from the Acler-
Merrall < CondiJ Company. and the abut-
Ting property az Charles A. Dards tie
florist at A. East Forty-fourth street
The lessee has commissioned Bloudgood
< Susarman, architects, 10 prepare
plans for twelve story store and OF
flee building to cost S500.00O. The For
ty-fourth street parcel viii be altered Al
cost Of $50 600. The deal, including
rents. taxes and improvements. Il Is
said, VIII involve at least S5,000,0e0. a.
y. Mitchell was the broker.
The site forms All II" around the
northeast corner Of Madison avenue and
Forty-fourth street The schmidt prop
erty covers a plot 5Oxl00 ana the
Dards property occupies a city lot, 25N
on Mr Zuhow Is now. putting mp an
eight story structure at lS East Forty
second street and l6 and is East For
ty-third street. adjoining The lomer
Manhattan Hotel, now leased ~ the
National City Realty Corporation.
The New York herald., 1921-05-19
ssSo. 900 Garment Factory Planned

Plans we're filed yesterday FOR
twelve story garment factory and stores
1s2x9S.q at 2it West Thirty-ninth
street by tho Asylum Or ST. Vincent H.
Paul. Schwartz ~ Gross architects.
estimate the cost at $3.50. 900. The site
for the project was reported sold about
ten DAYS AGO by Bryan r. Kennedy 70 .
syndicate % wealthy garment msnufac-
titrerS
The New York herald., 1921-05-19

A nine story office anu store building
34x9S.9, IS to be erected at 81 East
Thlrtieth street by the "a East Thirtieth
Street Corporation g. r.. Pelham
architect, estimates the cost at $40, 900
The New York herald., 1921-05-19
Naval Orders
Special Despatch 70 THr NEW YosK HsRAu
New Ycrk Herald Bureau.
Washington. ID. g., Nav 49,

These naval orders have been made pub
ic.
Comma nder & " Bowday. 10 Batteship
suua dron 2. Atlantic Fleet; Lieut. Com
naandef .. I. Bright. TO T.. 5. = Florida ~
First Lieutenant Lieut.. s y. Cobb. 10 II !.
:. s Michigan; Capt. +. e. Coos. 10 com.
mand Nayol Hospital. Pearl Hsrbor. Lieut.
III u. Fougerousse. NJ g.. 20 T.. :. s. Tn
coma: Lieut.. Commander ~ g. Gates, lr.
The New York herald., 1921-05-19
ROOSEVELT MILITARY ACADEMY
~ SUMMER CkMp--VACATION ScHoot

Tvsnty-three acres magnificent country
pronnyfy Neaithfri environment Excrr-
sions ana hixee TO points OF interes. A
vf.orv Board men of national prominence.
Moderate rates. f,omp' applications rccew-
ss~v write JOHN n. CARRfNGTON, Head
M mas,sr, West EpsiswDod, New jersey,
The New York herald., 1921-05-19
Buy swannnnoa Apartments.

Buick Realty Corporation. Joseph r
Benairn, president IS the buyer Of the
Swannanos Apartments. los East FIJI
teenth street. sold last April BY Meister
Builders through a. Straus. broker The
same buyers have also taken title 70
the six story loft building, 10xlo0. at
IS TO 80 Wooster street purchased re-
Gently from the Berg-Greeu Corpora
tton, through strauss 4 Coon brokers
The New York herald., 1921-05-19
other Sale. Ia Manhattan.

McCotter & Davis sold Tor lie O'Elara
Realty Company "a sixth avenue q
three story building 1886. adjoining
tho southeast corner of Fourth street
McCotter K Davis sold the south
west corner of Seventh avenue and
Charles street, a vacant plot. 5gx42x IT.
regular The buyer VIII erect 4 store
and studio.
The New York herald., 1921-05-19

Harris. Vought & Co leased Tor Mrs.
J. II. Ladew for twenty-one years her
four story residence at Sl3 Madison ave-
nue., northeast corner of Sixty-eighth
street. es5x100. to the 30 East Sixty
eighth Street Corporation composed of
several physicians. who Will alter the
property into a doctors office building
TO be owned comparatively. The aggre-
gate rental is about 5000, 900
The New York herald., 1921-05-19
Another Flat Tor the Heights.

Plans have been filed FOR a five story
apartment house. 75xs9,11 at Sta West
fS7th street for the David Construc-
tfon Company. Inc. G. r. Pelham. archi-
tect. estimates the cost at sf50.0O0
New-York tribune., 1921-06-08
Rally Checks
Price Decline
At End of Day
Liquidation Brings New
Lows for Year i'm Many
lndustrials Before Trad.
ers Cover Commitments

The momentum of falling prices car.
RED the downward movement in secur;.
ties further yesterday. Early in the
day those with impaired margins or
impaired confidence responded to the
declines of previous days by Offering
stock, and as result seyera, insns.
trlal issues slumped to the lowest level
attained thus far in 1921, and in few
instances below the depths reached
during the precipitate smash of last
december. The tendency to sag affected
the railroads. too, and during the gem
erai break activity widened, indicating
that new liquidation had been induced.
The decline reached phase which pro-
fessional spectators believed marked
the end of the movement and thew
acted on this assumption, especially in
the last half hour of trading. bv cover
ing snort commitments. The stimulus
OF this buying was sufficient to cause
sharp rally toward the close. thouoh
hnal prices on the average marked re-
eesslons compared with those of the
previous day. Buying was also stimu-
lated by the gossip that recognition of
the Obregon government in Mexico was
imminent. The initiative was so large
~ IN the hands of professional traders
that report that an important banker
would make reassuring statement
helped the market. The statement con-
sisted OF Charles E. Mitchell's an
nouncement of plan for an internal
reorganization of the management Of
the National City Bank.
A factor in the decline in the stock
market was the persistence of high call
money rates. Toward the close, how
ever, the rental charge dropped from
7h to q per cent, as bankers put out
funds which had been paid in yesterday
on the new French loan.
Secretary Melons announcement Of a
combined Offering of $500, 100000 Of
three year 5A per cent Treasury notes
and one year 51s per cent certificates
attracted much interest. Investment
bankers expect the new securities rapid
ly to be absorbed, but expect them to
offer serious competition to outstanei-
ing Liberty bonds, because of the diff
ference in maturity dates. Wall Street
looked upon the Secretary's announce
ment as the first step in plans to re-
fund the Victory loan bonds, which may
be retired next year at the option of
the Treasury and must be paid by 1923.
The three year issue is the longest Of
fered to the public by the Treasury
since May, 1919, when the Victory notes
were sold with all the halo of a Liberty
loan campaign.
This gave some stimulus to commodi-
ties and cotton quotations were firm at
the close. Highly irregular during most
of the day, grain prices were steady
when the session ended.