davidaulloa/AmericanStories huggingface dataset:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
MAXWELL HOLDERS
TO FIGHT MERGER
Legal Proceedings to Block
Amalgamation With Chal-
mers Are Started.

Holders OF the first preferred stock
of the Maxwell Motor Company have
begun legal proceedings to block the
merger OF that corporation with the
Chalmers Motor Corporation. Counsel
in four different cities, including law
yers who act for Henry Ford. are en-
gagged In the fight. Declaring the plan
as amended unfair. unjust and inequi-
table, they have asked an injunction
from the United States Court In Detroit
to restrain the sale of the Maxwell
property scheduled for next week. Con-
tending that the preferred holders are
asked to exchange their stock for an
absurdly small share OF the new securi-
ties the attorneys assert that IL the
company is in as poor financial condl-
ton as reported the management has
been guilty of gross negligence. In that
connection they say:
Tho conpany's statement OF earn
ings. as published for tho last six
years, ending July 81, 1912 have shown
average net profits applicable to the
first preferred stock in excess OF So a
share per annum. In spite of this, we
are led to believe that unless we ac-
cept so per cent. in class ''B" stock
of the new company, a substantial por-
ton of which class 'B'' stock is to be
given as q bonus to purchasers of the
class "A" stock, We are likely TO get
nothing whatsoever
According to the last balance sheet
rendered by the company, which was Is
of July 81 1919. the company had an
excess of current assets of close to
81, 100000 over and above all liabilities,
other than the stock against which the
first preferred stock. of which there is
outstanding a total Of s13;1s3. 342, stands
as a first charge"
Following the appointment OF w. Led
yard Mitchell as receiver for the Max
we'll company by Federal Courts in
Detroit. Dayton and Indianapolis on
April 10, the property was ordered sold
at public auction at minimum bid of
s1o.9l5, 900 to meet the legal requirements
of the plans for reorganization and
merger of the company with the Chal-
mers company. The sale has been set
for May u. The underwriting require
ment of SIC. 100000 has been provided. it
is understood.
Efforts to find local attorneys repre-
senting the controlling interests in the
Maxwell company were unavailing last
night. 1t is believed that the legal pro-
ceedings forecast litigation which viii
drag through long period.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
co IS0LIDATFD EXCHANGE.

There wae .naury Tor rails
throughout yesterdays busy Consolidat-
ed Stock Exchange market Active
shares of that group netted gains Of two
points Or more 70 high for recent months
and closed AT tho days best figures.
Certain stools and specialtios also moved
into now high ground. In tho balance OF
tho industr.als there was fair general
Improvement. oils lnggards at the start,
swinging into line with tho forward
movement Gains of 3 IN Gulf state
stool TO 4eIs. 2m IN Mexican Petro-
ioum 70 1909, ~ n General Asphalt
1874. ga IN Southern Pacific to 7sM.
2x IN Rock Island TO 81 \. ana In 81.
Paul 10 20, were feature changes
ST. Paul preferred rose "a TO 43x,
Erio first preferred 2 10 22is. Baltimore
and Ohio 70 IL. Reading ! ~ - 7sH
Chesapeake and Ohio 1Ns TO San, 81.
Louis Southwestern "a 10 aaN. Nils
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
MUCH GOLD FROM EUROPE.
Imports Since First of Year Total
$249, 43I,4 400.

According TO official figures from
Washington. gold imports into the United
States in the ten days ended April 90
were s4S,159,905. and in 1921 to that
date s249,431.499.
In the ten day period more than rs
per cent of the gold imported came from
Europe, the amount being S38. 916,206.
France sent $16,184,110. Sweden $11.-
61S,702, United Kingdom s7.11S,280, the
Netherlands $2.777.oso and Denmark
s1,1S2,261.
In 10 days ended April 20 the total
gold imports from European countries
were s17S,s43,517. France being in the
van with sS3.666.465. Imports from
other countries in the same period were:
United Kingdom. s62. 65o.62s: Sweden.
sci, 035. 52S, and the Netherlands, IS, 49,
$50. There also came s10.753,S 41 from
China and s9.271,66 from British India
Exports in the ten days ended April
20 were s176.241, and in the Ito days
ended April 90 were $4695.S37. OF the
exports in 1921 s3,160.SS7 went to Mex
leo, s697, $40 to Canada and s5o2,520 to
Hongkong.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
OPERATING EXPENSES
CUT HEAVILY IN MONTH
I8I Railroads Show Increase
in Income in March.

March earnings reports of ISL Glass
railroads sent to the Interstate Com
merce Commission show, gross revenues
OF $4S4.S62, 900. against s434,590,o 900 in
March, 1920. Operating expenses de-
creased nearly s20.000.0o0, resulting in
net operating income Of S2S.292, 600, com
pared with si2. $4,000 a year ago, due
to congested traffic following Federal
control poor distribution of cars, and a
large number OF locomotives in need of
repairs.
March earnings by districts embracing
total of ISL roads operating 221,547
miles of line we're:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
FRENCH PIG IRON OUTPUT UP.
Production in 1920 Put mt 90 Per
Cent. of Pre-war Total.

Production of pig iron in France in
1890 totalled more than GO per cent. Of
the pre-war output, while exports dur
ing the year were double those OF 1918,
according to figures made public yes
terday by the French Commission in
the United States. The output OF the
industry in 1913. the statement showed
was 5.207, 1877 tons, while in 1915 it was
.297, 900 tons and in 1920 S3l7,371 tons.
Cast iron production in 1920 amounted
TO more than so per cent. or the pre-
war production. basic pig iron to al
most 90 per cent. and special cast iron
more than 80 per cent. Exports Of pig
iron, totalled $4,000 tons in 1913 and
100000 tons In 1920.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
LANsToN EARNS MORE.

The Lanstoa Monotype Company for
the fiscal yoar ended February 2s. 1921.
shows a profit after taxes of 1885. s44,
or s23.9s share. earned on the $1,000 900
stock outstanding. This compares with
s9e.22 a share earned In the preceding
year. After deduct!ng $4,000 In divi-
dends and writing off sl30,256 for obso-
lete machinery and parts. the balance
OF S9fs.5S7 was carried to surplus.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
LIBERTY BONDS IN COURT.
Ffremen's Benefit Association in
Dispute Over $4,000.

A dispute over $4,000 In Liberty
bonds alleged to be the property OF the
Firemen's Mutual Benefit Association of
the city of New York will be argued to-
day before Supreme Court Justice Tier
ney. when James ID. Clifford. former
president of the association, replies to an
order TO show cause why he should not
deposit the bonds in the custody OF the
court.
Theodore H. Martins. present presi-
dent, claims in behalf OF the association
that Clifford bought the bonds out of
association funds. but has not turned
them over to his successor. Clifford re-
plies that the bonds We're part of COM
pensation due him for his work for the
association
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
NET PROFITS DECLINE.
Libby. Mcneil & Libby Report
S2,2o1,O32 for Ten Months.

Libby, Mcneil & Libby report in a
letter to bankers in connection with the
new financing that net profits available
for interest and Federal taxes for ten
months ended on March amounted TO
s2,921. 1892, against an annual average
for the preceding seven years of.$i,674.-
39s.
The company reports also that in
ten months ended on March this year
it's not profits available for dividends on
s27, 100000 of its stock were $500 006.
In seven years from May. 1914. to May,
1920. the average available for divi-
bends was s2.590.255. The drop in its
recent earnings was ascribed TO general
business readjustment in this country
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06

souri, Pacific IL to 20%. United states
steel 70 S6is. Cruciblc 1as to ssa~.
bethlehem steel y IL 64ai. Nanndium
ia 10 40L. ReploElc 1is to 3414. Bald
Win Locomotive "a 70 cas-. Royal
Dutch New York III to s9ia. and Texas
and Pacific Coal and OIL 2rt 90 3f1
American Wooden advanced "a 20
s2A. Retail Stores - 20 57, Sears
Roebuck ~ to S5Ts, eily-springfieid
ia to SIS, Hide and Leather preferred
~ to 5&A. Chandler Ia 70 SO, Amer
lean International III 20 5siA. and At
lantio Gulf IL 10 t3@
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
MEAT INDUSTRY IMPROVES.

WASHINGTON, May 5.-A statement
issued here to-day by the Institute OF
American Meat Packers said that II the
tone of trade In the meat packing indus
try was any barometer OF changes In
general industrial conditions American
business could find some cause for
announcement in April developments"
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
BURKy ] S PROGRESS BANK,
Byron n. rsrton rs Elected Direc.
,s of Institution.

Inter closely affiliated with the
banlshr use Of Kardos & Burke have
been elected TO head the Progress Ma
tional Bank.
John Burke. formerly treasurer o. the
United States and Governor OF North
Dakota, member OF the firm Of Kardos
< Burke, was elected president Louis
M Kardos. Jr senior member OF that
firm, was elected a director and chair
man OF the executive committee. ana
Byron II. Newton, formerly Assistant
Secretary ~ the Treasury and retiring
eniieclc- n sa0 Jrt Of New York, was
'rCtU# eNlaf
AfA&eM HftNeeH#t r fusiness Deals BEGAN
HtIeNgM WFNl I'd. under Tho Hefnlas
tN saifl 4giaa IN fnEiuaAs Opportunities. Try
a1s ssarr c1 x9ua pruposition---Adv.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06

In January 204 railroads showed a
net operating deficit OF S95S,399. com
pared with s59.639, 69S income for jan
uary, 1920. The latter figure, however,
included $50, 100000 back mail pay for
1917 and 1918. The same roads in Feb
ruary reported a deficit OF s7,37S,S07.
compared with S16,S51.s01 deficit for
February, 1920.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
WESTERN ELECTRIC objections

Frederick HAYES wilkins. European
general mann ger OF the Tnternatl onal
Western Electric Company. with head
quarters IN London, has been elected n
vice-president Of the company. and
Richard Gregory. comptroller OF the
parent concern, the Western Electric
Company. has been made director.
s. Wallace MTkland assistant comp
troller OF the parent organization since
1915 has become general contract sales
manager.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
MANY CARS IN RAD ORDER.

On April Is freight cars In bad order
numbered 2Ss,7Ii. or 1871 per cent. 81
The total owned by the country's steam
oar..ers Postponement Of repairs In
shown In reduced maintenance expendi-
lures in the earnings for the hrst quar-
TAR Of this yapn
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
FOUR WESTERN BANKS CLOSE
Three oklahoma STATE Banks and
One national In NebrnsIsa.

TULSA, Okla. May 4-The Exchange
state Bank and the Central state Bank,
both OF Keifer. okla. and the Bank OF
jerks. at jerks. Okla. were closed to-
day Oh orders of the State Bank Com
missioner.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06

OMAHA, Neb.. May 1.-THE First Ma
tionai Bank nj Bridgeport, Neb has
been closed 10y the board or directors.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
INCREASE IS SHOWN
BYLEHIGH VALLEY
Net Income Of $1,596,963 in
1920 Follows Deficit of 3d.
559,555 in 1919.

Combined income statement OF the
Lehigh Valley Railroad for 1920 shows
net income after interest. rentals and
taxes amounting TO s1.596.963. compared
with q deficit of s2.559.555 In 1919.
Gross receipts increased se.6s7.0S2. while
operating expenses increased s20.194. 776.
The combined corporate and Federal
income. without Government guaranty,
is compared with tho preceding year In
the following table:
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
BID AND ASKED QUOTATIONS

To tine following prices accrued interest =
70 be added in every case:
FOREIGN BONDS
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-05-06
Blackstone on "DOzoer''

"Dowe, might be sUffh az the relic ga D1sith
eaJfon: Jfree IL yG5 introduced into Den
marx BY the fafher Of Canafe The G,fAf. oar
sf prafifadS 10 the DAniJh Lsdis5 sghs 5oH
al she0 jeyeL 10 ramon him whes he sgas
taken pri,oner BY the Handah."
Daily picayune., 1921-02-18
ADMINISTRA-
 TON DEFEATED
SENATE REPASSES VETOED CIG- ARETTE BILL, REFUSE TO ABOL-
 ISH CHARITIES BOARD.

Originating in no definite source and gaining momentum rapidly, opposition to the administra ton the Senate yes terday resulted passing over the gov ernOr's veto, by q vote of 19 to F, the Johnston bill to legaiZe the sale of cig- arettes, the indefinite postponement of the administrat ton measure to abolish the Board of Charities Control, and an unsuccessful attempt to reduce the sal ary of the governors private secretary.
 The battle opened early in the morn ing when. without debate, the house bill which would abolish the present sal aried Board of Control and substitute honorary commissions to have charge of the various eleemosynary institu- tions, was postponed indefinitely.
 Immediately after the result was an nounced, Senator Johnston, author of the original bill to license the sale of cigarettes, which was vetoed Wednes- day by the governor, called the meas ure up again. Senator Johnston, late Wednesday afternoon after the gover nOr's message had been received saying that his principal objection to the meas ure was that it made the license fees too low. had introduced another meas ure fo rthe same purpose but with higher license fees No reference was made to this measure. but the original bill was called back and read, together with the governors veto message. Senator Woods preliminary to the de bate, decla red that under the rules of the Senate. a twO-thirds majority was required to pass any measure over the governors veto, and demanded ruling on the point. Easing his decision on the constitution of the state, President Cazort held that majorty of the mem- bers elected could pass measure over the executives veto.
 Tn opposing the passage of the bill Senator Stewart declared that no meas urc should be passed over the express ed dsapproval of the governor "excep in the extremenst emergency"
Daily picayune., 1921-02-18
Fayors Graduated Tax.

I think the governor is right in ve- roing this bill" the senator ;aii, hut wrong in asking only that the tax te doubled think that some graduated form of fee should be estu. l's.i4d. c.me of the dealers could well afr rd to oay licenses of S1OO, while licenses f ,uly $1O a year would be too heavy ter some of the small dealers. The sens.- ble hing to do is to introduce Ena.her b.l. and not try to run this one o"or t'c governor"
 ''Iuesn't the governor occasionally run things over us?" demanded senator Wilson of Union county.
 Senator Bone declared that, i'll his opinion, the bill was wrong in prinei- ples but inasmuch as it was designed to be revenue measure it should be r,ade an adequate one. He said that the Sl0 license fee for retailers and S25 for wholesalers was entirely too low.
 Senator Vaughan spoke briefly amid cries for roll call" declaring that the governors wishes in matters of revenue should be respected.
 An attempt to recess was voted down, and at 12 80 the bill went to vote. The ballot on passage over the veto was: Ayes-Caldwell, Collins, Deisch, Emory, Hartje, Jackson, Johnson, John. ston, McCabe, MarFarlin, Owens, Price Roddy, Scott, Thompson, Walls, Wilson of Union, Wilson of Washington. Pres ident Cazort: total 19.
 NOes-Barnes, BOgle, Bone, Latimer, Iefler, McFerrin, Montgomery, Stew art, Townsend, Vaughan, Wilson of Cal houn, Woods total 12.
 Not voting-Goff, Haley, McGraw, Shockley.
 Whether the vote was fair test of the lineup of administration and anti administration forces cannot be said definitely, according to several senators because of the other matters which en- tered into the question. Some of the votes east against repassage of the measure were for the single purpose, it was said about the Hobbies later, of
 Continued on Page Two)
Daily picayune., 1921-02-18
they were arrested.
 Smith is expected to arrive tomorrow when the investigation will be resumed
CHAMPION LEWIS MENACED

Kansas City, Feb. i1.-Ed tStran- glef) Lewis, heavyweight wrestling champion, defeated John Pesek, aspi- rant to the title, in straight falls here tonight Lewis won the first fall in l hour 10 minutes and If seconds after having applied the headlock several times. He won the second fall with a headlock in 12 minutes and 32 seconds. Pesek apps rently was unconscious for several minutes after the second fall and later WAS carried from the ring.
 As Pesek lay on the floor the crowd which had jeered Lewis frequently dur ing the match, closed about the ring, Severay policemen surrounded the champion and he left thearena with them after Pesek had revived.
Daily picayune., 1921-02-18
MAY TESTIFY
 AGAINST MOTHER
HENRY SMITH EXPECTED TO AT. TEND ENGLAND FIRE PROBE
 TODAY
(By Fletcher Chenault in Arkansas
 GaZette)

(By Fletcher Chenault in Arkansas
 Gazette.)
 Fl Dorado, Feb. 17.-Circumstantial evidence bearing on the recent hotel fire at England in which eight persons were burned to death, was investigated here tonight by Deputy Sheriff T. B. Ooldsby and R. s. Boyd, foreman of the Lonoke County Grand Jury. who retired at 10 o'clock without making public any of the facts they gleaned during the day.
 Henry Smith, for whom a warrant was issued but who proved to the satis- faction of the officers that he was out of the state at the time of the fire, is expected to be the star witness against his mother, who is held in jail here with J. F. Kalb on a statutory Offense, and as a suspect. Smith was due to arrive here tonight to investigate, but failed to appear. It is believed that he missed the train
 Mrs. Smith came here several days ago, and was arrested with Kalb. They were held as suspects on request of the Lonoke authorities, who hope to un- cover new evidence that will have di- rect bearing on the holOcause. If the evidence warrants, both Mrs. Smith and Kalb will be returned to L0nOke county to stand trial for arson and murder. If no new facts are uncovered it is pro bable that they will have to stand trial onl yfor the original offense for which
Daily picayune., 1921-02-18
SEEKING GOOD HOMES FOR
 18 BOYS AND GIRLS

Efforts are being made by the Ark ansas Children's Home Society here to place IS children, 12 boys and 6 girls, now being cared for by the society in good homes. The boys range in age from 1 to 12 years and the girls from 5 to 12 years.
 The Rev Q. P. Christian. state su- perintendent of the society, has de scribed the 12 boys for whom home is being sought as Dig boys, little booys good boys, naughty boys (sometimes), pretty boys, all in need of father and mother and home and school" The girls are equally as desirable as the boys, the Rev. Christian says. @
 Calls have been coming to the heme here from various sections of the state announcing that children there are in need of an agency to locate homes for them. These cases, according to 0u- perintendent Christian, will be taken up as rapidly as the children now In the home are placed in homes.
Daily picayune., 1921-02-18
BLANTON "BAWL-
 ED" BY HOUSE
WILD DEMONSTRATION FOLLOWS ATTACK ON BELLIGERENT
 TEXAS MEMBER.

Washington. Feb. 17.--Hoots, cat calls and the word liar were shout ed on the floor of the house today in the stormiest session in years. The up roar started when Representative Sum- ners of Texas, having left sickbed, apeared in the house and, supported by most members of his own state del egation, alunched an attack on his col. leagues, Representative Blanton.
 Rumors have been circulated about the house for days that the Texans were preparing to make the attack on their fellow member. but 1t was held off until kr. Summers was physically able to direct it. When he stepped forward with faded newspaper clip ping in his hand nearly every member was on the floor.
 The clipping revealed that MT. Blan- ton in n letter to Texas newspapers had charged members with a concerted plan to raid the Treasury and obtain salary increases, which he alone had prevented heretofore. The press was asked to help, and many papers to which appeal was made responded with bitter assaults upon those charged with backing the alleged salary grab"
 There was tense moment in the chamber as the reading of the clipping was finished, and Mir. Summers, step ping to where Mir. Blanton was seated
 CONTINUED ON PAGE THREE
Daily picayune., 1921-02-18
CHILD DIES OF BURNS.

Ruby Viola, the little 3 year oid daughter of Bill Gassaway, who was burned while playing around q, fire yesterday morning, was relieved of her suffering at 3:3O in the afternoon, when death claimed her litti flame scared body. She only lived abOut four hours after the accident but everything humanly possible, was done for her comfort.
 Her remains will be buried this after noon at 3 80 o'clock.
 We sympathize deeply with the heartbroken loved ones from whose midst has been snatched the idol of their hearts, and would, were is poss- ible, help bear the burden of grief in their sorrow stricken home.