davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1921-12-30
bO0TLEGCERSOF
J.. 5. ARE ON RUN,
SAY DRY AGENTS
1921 Was Tough Period to
Illicit Forces, Revenue
Figures Reveal.
BY WILLIAM X. HUTCHINSON
International News servlce.

AhsSHhntAOSss ANo"s coss s~os
The ghost Of John Barleycorn en-.
ters the new year wavering under n
series of staggering blows struck by
prohibition agents during 1921, accord
Ing to internal revenue reports made
available today.
The Government forces confiscated
6, 10000 gallons Of alcoholic beverages
during 1921, the reports showed. while
10000 persons were arrested for al
legged violations. The confiscations. 1t
was pointed out. were thirty times as
large as In the preceding year.
The dry agents swept into their net
property and liquors valued at $12,-
000, 900 In the last twelve months. This
was a valuation almost six times 90
large as the confiscations of 1920. The
annual figures, on the whole, showed
a marked increase in activity anon g
prohibition field agents.
The most fragrant violations, the re-
ports showed, occurred in New York,
Ohio, California, North Carolina, Flor
ida and Georgia. Each Of these States
led In a distinct violation of the dry
law.
Delaware, with but fifty-three gal
Ions Of liquor seized and fourteen per-
sons arrested, was the best-behaved,
while Kansas was a close second. Ne
vada and Vermont also showed marked
tendency for peaceful enforcement Of
the law.
Bootleggers plying in beer Jared the
worst at the hands of dry agents. The
Governments beer confiscations to-
tailed 5000. 900 gallons. with $4,000 gal
Ions of wine and 100000 gallons of
distilled spirits also seized.
The most valuable property was
seized in Florida, where $2,250, 900
worth of booze" and paraphernaia
Including distilleries) fell into the Gov
ernment's bands. New York ran a
close second with $1.45O,000 worth of
property seized.
The Washington times., 1921-12-30
SCIENTIST KEEPS RIVER
FROM FREEZING S YEARS

TORONTO. Dec. 30.-It is possible
to prevent a river from freezing over
by supplying a small amount of heat,
the American Association for the. Ad-
vancement of Science was told yester-
day by John Murphy, engineer of the
Canadian department of railways and
canals.
The Rock river, in Illinois. a navi-
gable stream. has been kept from
freezing for five winters over thir-
teen miles Of its length by spilling
tepid water in II at the rate of two
barrels a second, he said.
Mr.. Murphy explained that ice
would not form when water was
100 Of a degree avove 32 Fahren-
heit
The Washington times., 1921-12-30
MRS. ELLEN MARIAN WATTS.

The body OF Mrs. Ellen Marian
Watts, who died at the home Of her
son. Francis Ramsay Watts, at era
dock, Va, was buried December % In
Mt. Olivet Cemetery beside the
body OF her son, c. Lore Watts, who
died In the world war.
Mrs. Watts came from a long and
distinguished line Of ancestors. She
was born In Philadelphia seventy-five
years ago. She came to Washington
about thirty-five years ago. and was
widely known in this city.
Surviving Mrs. Watts are her hus'
band, John Alexander Watts; two
sons. e. c. Watts and Francis Ramsay
Watts, and one daughter, Miss Daisy
Watts, a widely-known Washington
journalist.
The Washington times., 1921-12-30
L. p. STEWART Is ELECTED
HEAD OF MYSTIC SHRINE

BY one OF the largest ballots cast
In the history Of the temple, Leonard
p. Stewart was yesterday elected
potentate OF Almas Temple, Mobiles OF
the Mystic Shrine. the election TAX
Ing place at the New Willard Hotel.
The election was the termination
Of campaign Of several hours. the
polls at the hotel having been opened
earlier In the afternoon. Mr.. Stew
art has served two terms as chief
rabban. Henry Lansburgh-or, as he
n Familiarity known In the temple,
'AClll Me Henry''-received many
gracious compliments on the heavy
The Washington times., 1921-12-30
SAMUEL MIX. PEAKE.

Samuel McKim Peake, an employe
of the Washington Navy Yard Tor
thirty-eight years, died last night at
his home, Sal Randolph street north
west. Funeral services will be held
tomorrow afternoon at 2:30 o'clock.
Interment will be in Congressional
Cemetery.
Mr.. Peake was born in Washington.
He was fifty-seven years old. He was
81 organizer and vice president OF the
Navy Yard Recreation League. He
is survived by his wife, Mrs. Dora 10.
Peake. two sons. Warren z. and VIII
liam E.. Peake, and one daughter,
Miss Dorothy Peake.
The Washington times., 1921-12-30
Births, carriages, DEATHS
Phone Main SEQ Until z p NJ Obituary Dab

Ign. N. r.. and Minnie, -. Jersey City.
N. J. The Rev Abrsm simon.
The Washington times., 1921-12-30

vote he polled as opposition candi-
date. Mr.. LAnsburgh has served
with great distinction as potentate OF
the Shrine. which has shown much
progress during his administration.
Other officers elected were: w. ID.
Brown. chief rabban; II. +. Carey,
assistant rabban; George Duval, high
priest and prophet; Gus Cook, treas
urer; r. Laurence Walker. recorder
and j. +. Karsner, oriental guard.
The Washington times., 1921-12-30
U. s. SAILORS DECORATE
ITALIAN SOLDIERS GRAVE

ROME. Dec. 30.---A liberty party
from the United States battleship
Utah. stationed at Naples. attracted
crowds at the grave of Italy's .'un-
known soldier" yesterday. when they
placed on IT a wreath inscribed. ~
Tribute From the u. 8. s. Utah."
II was a spontaneous act Of the sail.
ors. without official inspiration, and
Il appealed to the sentiment of tho
Italians. hundreds of whom later
visited the tomb to see the wreath.
The Washington times., 1921-12-30
Smart, New Spring Fashions. Just Created
By, and Made Exclusively for Us,
by High-erade Shoe Manufacturers

Two of the styles included
are illustrated. One is a Black
Suede two-strap Pump, with
modified French toe. Fastened
with two dainty Cut Steel but
tons. Modified French heel.
Also. a patent leather short
vamp two-strap Pump, with
perforations and small black
buckles
Other styles include: Black
Satin one and two strap
The Washington times., 1921-12-30
Beacon Bath Robes
$3.75 and $4.75
Were $4.98 and $5.98

Pre-inventory Sale of Wo-
mems Robes-all effectively
tailored, satin ribbon trimming,
cord and tassel at waist.
The Washington times., 1921-12-30
ELMER MADDOX.

Following a brief illness. Elmer
Maddox, a machinist at the Wash
ington Navy Yard. died yesterday.
Funeral services will be held tomor-
row afternoon at 2:30 o'clock at his
residence, 239 Pennsylvania avenue
southeast. Interment will be pri-
vate.
The Washington times., 1921-12-30
Catholic Women to Dance.

Under the direction of the Catholic
Women's Service Club, a New Year
Eve dance will be given tomorrow
night at Catholic Community House,
COL e street northwest, at o'clock
The Washington times., 1921-12-30

Pumps. Patent leather three
strap Pumps. Black suede two
strap Sandals, with vertical
strap supporting two instep
straps. Medium. high or low
covered wood heels.
We cannot too strongly en-
phasize the Importance of this
event, offering strictly high
grade shoes of distinctly orig
inal style at a new low level
price. Only $5.95 pair. All
sizes, 2 to 8, AA to c.
The Washington times., 1921-12-30
DEATHS.
HARVEY

HARVEY. Friday morning, December 30.
1921 at 1872 Clifton street northwest.
MRS. e. f. HARVEY, widow OF the late
DR.. II. NJ. Harvey, Services will be held
Mt Lees chapel, 332 Pennsylvania
avenue, Saturday afternoon at o'clock.
Please omit flowers. -
PEAKE. On Thursday, December 20,
1921, at p. m. at Sal Randolph street
n. w, SAMUEL McKIM PEAKE, be-
loved husband OF Dora Il. Peake. Serv-
ices will be held at his late residence
on Saturday at 2:30 p. m. 1nterment
Congressional Cemetery.
New-York tribune., 1921-01-30
Puzzled by Drop in Graphophone

Question: have been contemplating
buying a few shares Of Columbia GRAPHIC
phone stock. but have hesitated for fear
there might be some reason for this stock
being 30 low that isn't apparent from the
surface. VIII you be kind enough to give
me your opinion Of this stock and what in
your opinion, is the true level? or course
! understand induBtrias such as this are
highly speculative. However, / cannot
quite understand why stock of q first
class company manufacturing good ar
ticle should drop from 65 y to 9 in year.
n. l.. d.
Answer-The Columbia Graphophone
Company may be, as you say, good
concern marketing an article of merit,
but the phonograph is a luxury (to
some people, and not so many are buy
ing them at high prices, or any price
at all now, as was the case six months
ago: Another thing, the stock was
made football on the Stock Exchange
and the bears have had their own wav
for some time. What it's true level is
we cannot attempt to say. We advise
you to look around for something
better, even if you are only going to
play with the stock. The company sold
S7,5OO,0oJ per cent notes last sum.
mer of which $1,5O0,000 have been re-
deemed.
New-York tribune., 1921-01-30
Longer Terms Better Than Short

Question-Do you consider tho first
nlortgsge 1871 bonds just issued by tho
o"naarwests: Morthwestern Bell Telephone compsay
ADVISABLE to sell Ave Western Electric 1925
and hve shares Southern Pacific Railway
ana put into the Bell longer term bonds ?
follow and value your column highly.
l nave Sc eral short term 1e25-,27 which
tnlnk that | should like to put into sound
ponds OF longer terms Do you consider
un,on Pacific preferred a wise invest
Answer-It is our opinion that good
long, term issues are highly desirable
While many of the short term bonds
offer attractive yields. 1t should be
borne in mind that when they mature
1t ls likely that no such opportunity
TO secure permanent investments will
be offered as is offered at present,
therefore we believe the exchange Of
Western Electric 1925 for Invest
ern Bell Telephone is advisable. The
latter are we'll secured and easily
marketed. Besides this YOU nigh
consider good preferred stock such as
Union Pacific, Atchison, United State =
Steel. Standard Oil of New Jersey,
American Tobacco and American Bank
Note (par $500.
New-York tribune., 1921-01-30
Sits Out Good Preferred Issues

Question-In reading your investment in
formation fairly regularly for a number
of months, I an, surprised at the small
number OF preferred stocks that you rec
Liberty bonds to warrant my making fur
ther investments in preferred stocks. OF
these l prefer Industrial to railroad
stocks. already hold 10 or 20 shares
Of all Of the industrial stocks that you
have favorably mentioned to my kncwl
edge. I'm looking the capitalization
Of various companies the preferred stocks
that you have mentioned. What Is your
opinion cf them? American Agricultural
Chemical. American Car and Foundry,
American Locomotive, Baldwin Locomo-
tive. Barrett Company, International Har-
vester. Pressed Steel Car. Railway Steel
Spring and sears-Roebuck: Why do you
frequently recommend Virginia Carolina
mical preferred and never American
Agricultural Chemical preferred. when the
two sell 70 yield practically the same re-
turn? l hold more Indianapolis Street
Railway preferred than l care to. Is this
good time to sell 1t or had l better wait
until they recover more fully from their
tion on this stock?-F. G. J.
Answer-We doubt if there.is a stock
on your list that we have not at some
time or other recommended for invest
ment All are sound. American Agri-
cultural preferred is entitled to as
good a rating as Virginia-Carolina
preferred. There appears to be no
quotation here for Indianapolis Street
Railway stock. Your broker can refer
you to a house which is familiar with
the issue.
New-York tribune., 1921-01-30
Why Refundinx Bonds Sci, Lowsr

Question-Wii you kindly give mo .
trail Georgia s.. Hudaon & Manhattan bs.
Series A; Chicago & Alton 3hs. Lehivh
Valley convertible 4hs. New York. susaue-
Line As and Westinghouse Electric II.
Why arc tho majority Of these selling 50
low? Also please advise me which. Il
What Is tho meaning OF ''refundiny." and
why do bonds OF this nature seem 10 sell
lower than others? Please explain why
Hudson & Manhattan funding 81. Series A,
and Hudson & Manhattan adjustmonta-
G. B. X.
Answer-Central Of Georgia 10-year
secured per cent, 1929. are secured
by pledge of $11 100000 face value new
refunding and general mortgage bonds,
which are a mortgage subject to $751;
property. These refunding bonds are
reserved also to retire all prior liens
as they fall due. Hudson 4 Manhattan
S per cent 1857, Of which there are
$37,521,297 outstanding, are secured
by first lien on part Of the Hudson
Tunnels and second lien on another
part. also a second lien on the Hudson
Terminal buildings in New York City
and by pledge of $66,000,000 of the
s67,000,0O0 first Az per cent bonds,
1857. Chicago & Alton Railway frst
lien 3h per cent, 1850, Of which there
are $4,000. 900, are secured by first
5s5 and second lien on 2s5 miles Of
leaseholds. They are subject to $43,-
$50 600. Chesapeake & Ohio first per
cent, 1949, Lehigh Valley consolidated
(not convertible) Az per cent, due
1923, are, together with the per cent,
secured by first lien on thirty miles,
second on 286 miles. There are only
$4,000, 900 of prior liens. This issue is
very high grade. You may refer to the
general consolidated AZ per cent,
which, together with the a per cent
and per cent, due 2003, are junior
lien on the property covered by the
New York, Susquehanna & Western
first refunding s per cent, 1887, are a
first lien on sixty-fve miles and d
second on seventytwo miles. There
are $3,688,500 of prior liens Seaboard
Air Line refunding per cent, 1869,
are a first lien on 278 miles, SO 'ond
on 563, third on 1886, fourth on ninety
five, fifth on 574 miles. There are $49,-
$4,000 prior liens. Westinghouse
Electric per cent, 1881, of which
there are $3o,000000. are not secured
by mortgage, but arc direct obliga
tion Of the company. OF these issues
Lehigh Valley Az per cent are the
best, followed by Westinghouse 7 per
cent, Central of Georgia per cent,
Hudson & Manhattan 5 per cent, New
York, Susquehanna & Western per
cent, Seaboard Air Line per cent and
Chicago & Alton 31z per cent. The
first three are sound investments. The
next three are very fair investments.
The last is speculative. A funding or
refunding bond is one which refunds
prior liens, when they fall due They
naturally sell lower than first lien
bonds Hudson & Manhattan refunding
iustment bonds do not pay interest,
the company having stated that no
interest will be peid pending the es-
tablishment of $1,000,0O0 reserve for
contingencies.
New-York tribune., 1921-01-30
Keeping Railroad Bonds Legal

Question: have been informed that the
Baltimore & Ohio must pay dividend
its common stock this year if its bonds
are still to be legal for savings banks. Is
this true? II so. what must it be to still
keep the bonds legal for savings banks?
When Is the meeting to declare dividends
and what holdings have the Baltimore &,
Ohio in the Reading and their market
value? Any other information on Balti-
more & Ohio will be greatly interesting
and appreciated.--J E. w.
Answer-The New York State Legis-
'ature has ruled that railroad bonds
which have been legal up to the time
of Federal control continue to be legal
for two years after the roads were
banded back, namely, until September
l, 1922. We do not look for a dividend
action on Baltimore & Ohio common as
yet. Baltimore e. Ohio and New York
Central owned on December 81, 1919,
S60,515,000 Of the outstanding capital
stocks of the Reading Company. There
S $14o,000,O00 capital. Of this amount
Baltimore g. Ohio owned $l0,002,500
common. quoted about s8; $s,o65, 900
.irst preferred, quoted about 52, and
$14,265,000 second preferred, quoted
about SO.
New-York tribune., 1921-01-30
Canadian Northern Pays in Dollars

Question: have followed in general
way your financial column for some
months past and have gained thereby con-
siderable valuable Information with refer
ence to Investments. have failed to
note. however anything touching on
Canadian Northern Railway sinking fund
gold debenture 7s although no doubt you
ave already answercd queries on the
tame, but have not run across them
VIII you advise as to the maturity
date Of these bonds, the interest periods
what the security is whether payable in
dollars in United States coin as to princ!-
pal ana Interest. and also please state
whether these bonds are guaranteed as to
principal and interest by the Dominion Of
Canada, as are the Grand Trunk Railway
7a OF 1910? How do you regard them as
safe. s. conservative long time Investment
kindly state In a general way how you re-
gard Nirg inia Carolina Chemical per
cent preferred. as an Investment? What
has been Its past dividend history as to
preferred. and what average margin Of
safety has 1t earned ?--F w. II.
Answer-Canadian Northern Railway
per cent debentures are due Decem-
Der l, 1910. Interest is payable June
! and December l in New York in dol
lars. They are guaranteed, principal
and interest, by the Dominion They
are not secured by mortgage. we re-
gard the bonds as high grade Invest
ment. The Virginia Carolina Chemical
Company has paid per cent on the
Preferred stock regularly since 1896.
For the last ten years the annual aver
age amount earned on this stock has
been 2234 per cent. We regard it as
good Investment.
New-York tribune., 1921-01-30
Seek Retailers Backing
Of Sales Tax Proposal
Business Men Give Luncheon to
Interest Supporters for
LEGISLATION

An effort to interest the retail trade
Of the country m the gross turnover
tax, to the end that pressure for its
adoption will be brought to bear on
Congress, will be made tomorrow at
luncheon at the Bankers Club, given
by Jules S. Bache, of J. S. Bache g.
Co., and Henry +. Samstag, of Samstag
& Hi:der Brothers, manufacturers, i'm
porters and jobbers of notions and
nc, elites.
Representative merchants and buy
ers for out of town department stores
which the principal speakers will be
MIR. Bache and John S. Hord. origina-
tor of the sales tax in the Philippine
Islands and collector of internal
revenue in the islands for the first six
years of the administration of the
sales tax, and Meyer D. Rothschild,
Chairman of the Business Mems Ma
tiona] Tax Committee.
Among those who are expected are
H: F. Parsons, pres deYt + T W
Woolworth & CO.; Professor c. J.
Bullock, Of Yale; j. C. Penny, presl-
dent f the J. C. Penny Company, Inc,
cond -cting a chain of retail ready-to-
wear stores throughout the country;
R. Sadowsky, of r. Sadowsky G. Co..
cloak and suit manufacturers and di-
rector Of several department. stores;
Horace A. Saks, of Saks g. Co.; l.. A.
sam stag. Alfred Fantl, Frederick At
Sins and John Biggirs. the last three
being prominent resident buyers for
)ut-of town stores, and other buyers,
travelling statesmen and several alter
cys connected with the ready-to- wear
rades.
New-York tribune., 1921-01-30
Demands Safety and Marketability

Question-Having followed your valu-
able susg estlons some time ago In the
investment OF $4,000. again appeal 70 you
have another $1,000 which I want to
invest with tho consideration OF safety
and markctability.. WIN you kindly give
your opinion which you consider the beat
.. tae .viowins Or suggest something bet,
1929. Anaconda Copper per cent bond
1929. United States Rubber l0-year TN per
cent gold bond. Steel and Tube Com
pany OF America per cent general mort
Canadian Northern Hallway Company 90
year per cent sinking fund gold de-
bcnture bonds. l am inclined to take the
Anaconda Copper por cent bond. Do you
consider 1t safe IF. H. B.
Answer-Of the bonds you mention
we regard Canadian Northern dehen.
lures as the best, because the Domin.
ion is back OF them. After tnem we
place Steel & Tube Co. Of American Z
per cent. The earnings Of this COM
pany have been very good. Then we
place United States Rubber IN per
cent and then the Anaconda Copper
bonds. The latter yield the greatest
return, because mining securities are
more or less speculative. However,
the copper situation begins to show
signs of improvement, and as the Ana
conda is one Of the strongest of the
copper companies we do not regard
these bonds as an undesirable invest
ment. You might also consider the
new issue of Northwestern Bell Tele-
phone per cent bonds, to yield TX
per cent.
New-York tribune., 1921-01-30

and) incomes, from whatever source
derived, which shall include (ga,ns,
profits and) incomes derived from Sc
'urlties created by the states and t..er
subsidiary governments, issued after
he ratification OF this article. ard
salaries of all public officials. Federal
as we'll as state. elecred or appointed
TO office after the ratification Of this
article, without apportioument among
he states and without regard TO any
census or enumeration. (Provided:
That any state having in force
genera, income tax under which
the gains, profits and incomes derived
from securities created by it or its
subsidiary governments and from sal
aries of pubic officials thereof are
taxable and are actually taxed, shall,
after the <fatitication of this article,
have the power to lay and collect there
under taxes on gains, profits ard in,
comes derived from securities created
by the United States and its possessions
and territories and salaries Of al pubic
officials of the United States and sucn
possessions and territories
New-York tribune., 1921-01-30
Prefers Preferred Stocks to Bonds

Question-I note that you suggest
lowing bonds: Denver & Rio Grande 4s
1885. yield sh per cent: prior lien ST.
Louis San Francisco 4s 1850. yield 7.4o
7;s5 per cent; FIRST refunding Missouri
Pacific So. 1865. yield $40 per cent: Balt!-
Wors wars q, 4 Ohio Pitssburgh, Lake * Erie &
Do you think that the above investment Is
as flexible as one made up Of various In
dustrial preferred stocks as follows: United
States Rubber preferred per cent 1903
Virginia Carolina Chemical preferred per
cent loS. General Cigar preferred pei
cent So; Bethlehem Steel preferred per
los u. worthinston Pump ana Machinery
rs Amercan nan
either sonds or Stocks sVns
assurance of regular return and at the
same time obtain securities which are
hear what the yield on the above preferred
stock Is at present levels and be informed
as to whether you think the, above is
the yield on the railroad bonds mentioned
are you calculating the yield on present
interest based on market prices or are you
adding to this the difference between pres
ent prices and parity and distributing this
over the life the bond has yet to un?
w. A. L.
Answer-Generally speaking, the
bonds you name enjoy good markets.
We regard all as sound, although II is
by purchasing good preferred stocks
also. The yield on the railroad bonds
is figured to the maturity of the is
sues. We regard the stocks YOU name
as good investments. Following are
the yields at recent prices: United
States Rubber 8 per cent, TIT rer
cent; Virginia Carolina Chemical. 7.77
per cent; General Cigar, per cent,
s.13 per cent; Bethlehem Steel rer
cent, 7.27 per cent; Standard Oil 7 per
cent, Gas per cent; Worthington Pump
Z per cent, $50 per cent; American
Rank Note 6 per cent (not per cent?,
ESQ per cent.
New-York tribune., 1921-01-30
Moderate Yield for His $4,000

Question: wish to invest SC. 900 In long
term bonds OF undoubtcd security and
Yielding on an average of sh per cent. I
DO not object to one two short term
bonds If return Is especially attractive
This Is my list: American Telephone and
Telegraph &C. Standard OH Of New York
Is Is 1870. Kingdom of Norway IS. Southern
pacihc equipment rs. Northwestern Bell
telephone Is. some Canadian railway 7s
with government guaranty. I have al
ready purchased the first three and am
considering the last three What would
you recommend to increase the security
or this selection? What do you think OF
Canadian Railways?-R. c. B.
.Answer--1n our opinion the Cana
cian railway equipments offer attrac
tive investment opportunities. The
Est you submit is excellent, we think.
FIJI it out by adding Canadian Ma
tional Railways 7 per cent equipments
1880. The taking over Of the carriers
by the Dominion government has
strengthened their securities, l.. our
OPINION