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The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-05-17

AIE' I|lll!!lle'


The Rock island phaSe Of the case
against MIS- Minnie Foster. FOG
Kirkwood boulevard, Davenport,
who was arrested III this city the
night OF May Z, ~ an alleged shop
litter. was cleared away before
Magistrate D. J. cleland In police
court this morning.
All the goods taken 1t the home
Of Y. G. Beck. 1879 Twenty ninth
street, where Miss Foster was ar
rested. and where q box Of goods
stored In the attic was, claimed BY
the J. H. c. Petersen'sI Sons store
OF Davenport. have bekn returned.
Attorney Carl Lambach. represents
ing Miss Foster. insisted thfs morn
ing that the search warrant had
been illegally served and thatSn adj
dition had not set forth proper
description OF articles that were ex-
pected to be found. However,
his principal objection was
made to the fact that the
search warrant had been served
at night and that il was signed by
only one justice of the peace, where
Ito have been legal for service at
night 1t should have been signed
by two justices. f. c. Eckman, rep
resenting the Davenport store, made
no argument in the case. and Mag
istrate Cleland dismissed the pro-
ceedings.
(. Attorney c. Dudley Marshall, rep
resenting the l.. S. McCabe COM
pany of Rock Island, was present
at the hearing, but there was no
warrant made out against Miss
Foster in behalf Of the Rock Island
store. Attorney Lambach said that
some of the goods seized and later
returned to Miss Foster had pre-
viously been In the stock of the
Rock Island store, but he asserted
that he had ample proof to show
that such goods had been purchased
by Miss Foster, and declared that a
clerk Of the Rock Island store could
be produced who would swear tC
this.
Davenport Case in Middle.
In Davenport the case was
'threshed out to a considerable ex-
itent before Justice w. W. Scott yes.
iterday morning, and nearly all o.
the goods that had been seized al
Miss Fosters rooms ia Davenport
and at her home at Albany were re-
turned to her. Only the following
long list OF articles seized have
~been held back: Eight small piece!
OF creton, silk remnant abou
two yards. two pieces OF draper,
edging. two lace centers, two file
squares and one blanket.
The larceny case against Mis-
Foster has not yet been taken up
as Attorney Lambach is still fight
ing the case under search warran
seizures, and has. been successful
In getting returned to his client tn
bulk of the goods seized. Civil &C
ton may be climax to the arrest Q
Miss Foster.
Her Own Goods Missing.
According to Attorney Lambac
a pearl necklace and a $35 bed
spread, which were among the arti
'cles seized, and which the store n
longer claims. are missing. The
are said to have been missed fror
the Davenport police station wher
all the articles had been taken. TIL
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-05-17
LIGHT HOIrSE MISSION.

LIGHT HOUSE MISSION,
A special meeting Of the Light
House Mission will be held at s
o'clock Thursday evening at the
mission house, 721 Third avenue. A
delegation from the First Baptist
church will be present.
New-York tribune., 1921-06-28
Kuhn, Loeb & Co. Sell
Illinois Central Issue
So, 100000 Railroad Flotation
Is Two Times Oversub-
scribed on Offering

Kuhn, Loeb & Co. announced yester-
day the purchase and resale of an issue
OF $S,000,000 Illinois Central Railroad
Company fifteen-year Ga per cent Sc
cured gold bonds. The issue was
formally offered for public subscrip-
tion yesterday at 97A and accrued in
terest, to yield about $50 per cent, and
was twice oversubscribed by midday.
The bonds are not redeemable before
maturity and are secured by the de-
posit as collatral of $8,225,O00 face
value Illinois Central refunding mort
gage 4 per cent gold bonds, due 1865,
and S3,S20,000 face value Illinois Cen
trail and Chicago, st. Louis & New Or
leans Railroad joint refunding mort
gage per cent bonds, due 1863. The
issuance of the bonds is subject to the
approval of the Interstate Commerce
Commission.
Proceeds of the sale of the bonds are
to be used to reimburse the treasury
OF the company for expenditures for
additions and betterments to its rail
road, terminals, equipment and other
facilities.
New-York tribune., 1921-06-28
Early Advance
Lost i'm N ew
DroI, i'm Stocks
Profit Taking Adds TO the
Selling Pressure of Shorts
and Liquidation; Volume
OF Trading Was Light

| The forces making for a rally in
security prices carried quotations nota-
bly, higher in the first hour Of trading
yesterday, but soon offsetting influences
became operative. BY the close the
| early advances were not only effaced
but a large share Of the gains regis
tered on Saturday were lost. Floor
( traders who were long seized the op-
portunity of taking profit quickly, and
this kind of selling gave momentum to
the fresh manifestation of short selling
and liquidation.
| The volume Of trading was again
light, and during most of the day dull
ness prevailed. The oil shares and the
sugars We're conspicuous targets for the
sellers, and the steel stocks, too, moved
lower. Although less weak than the
industrials, the rails were similarly
easy and revealed on the average mod
crate recessjons.
Despite government withdrawal OF
$S3,00o,0o0 to-day the supply Of call
funds continued abundant yesterday.
The rental charge on speculative credit
remained at per cent and money was
obviously not ruling factor in the
trend of fluctuations. A lack Of de-
mand for securities made it relatively
easy for the forces making for de-
cline to sway.
The new conference designed to bring
industrial peace in the British mines
was a factor making for strength in
sterling exchange, and the continental
exchanges, with the exception of lire,
tended also to move upward.
This strength was reflected, too, in
the cotton market, where July con-
tracts were in chief demand. Net gains
at the close varied from twenty to
thirty points. In the wheat market the
increased pressure of new crop offers
and the lack of demand combined to
cause net losses of to 21a cents.
Of more interest than the sfiuctua-
tions in the financial markets was the
movement of the New York Curb Market
Association to it's new home on Trinity
Place. The name of the new curb
market is something of misnomer,
for the inside curb is in technique
now regular stock exchange. 1t COM
petes with the New York Stock Ex-
change in no direct way, dealing only
in securities not listed on the big
board, as before. 1t still purposes to
serve as the training school for new
and "when issued" securities. The fine
new building makes possible moro care
full regulation Of trading ard imposes
larger responsibilities CT the members.
There was relatively little activity on
the new exchange yesterday. The dis
senters remained outside and they were
kept nearly idle by the paucity of
orders.
New-York tribune., 1921-06-28
Waste in Government Bureaus

Careful study of the activities of
the government bureaus has revealed
a startling waste in the duplication of
work, according to Nanny Strauss, of
Hirsch, LIienthal & Co, who is also
chairman of the finance section of the
National Budget Committee, of which
John T. Pratt is the head.Mr. Strauss
asserts that if this wasted effort was
eliminated the saving to taxpayers
would mount up into hundreds of mil
lions. "a reduction in taxes all along
the line could be effected" he stated
This would not only save the people
money, but would tend to create a
satisfied atmosphere among the public,
because, while commodity prices have
reached their peak and have started
to decline, taxes seem to be ever soar
ing. The national budget bill was de-
signed to decrease taxes not by elm
mating any departments or bureaus
actually serving the public or the ad-
ministration of the government, but by
consolidating those bureaus that work
along parallel lines, and to eliminate
as much duplication as possible. 1t
also proposes to carefully supervise
all appropriations"
New-York tribune., 1921-06-28
General Motors Bonus Plan

This week the General Motors Cor
poration is awarding 6,577 of its en-
ployees 6,332 shares of per cent
debenture stock and 1852 shares Of
common stock as bonus for the cal
endar year 1920. The bonus plan was
adopted in 1918 to induce efficient en-
ployees to remain with the company
for at least five years. Tie company
each year, after deducting from net
earnings per cent on the capital stock
10 per cent of the remaining net earn
ings, and this sum is placed in the
bonus fund, which is invested in the
common and per cent debenture stock
of the parent corporation. The total set
aside out Of earnings in the three years
ended 1920 is in excess of $13,0o0,000
New-York tribune., 1921-06-28
Pawning Reparations Bonds

London cables told yesterday Of ne
gotiations for loan Of e2o,00o,ooo to
Portugal by the British Treasury, the
commitment to be secured by the de-
posit of reparations bonds that the
Portuguese government is to obtain
from Germany. If the transaction goes
through it will be the first of the kind.
1t is an operation similar to that dis
cussed with regards to the American
market, only the proposition in the
latter instance would involve the sale
to American investors cf German
reparations bonds for French account
or French bonds secured by German
reparations bonds. The view was ex-
pressed not long ago by eminent finan-
cial authorities that at least $500, ,o00, 900
Of such securities could probably be
sold here.
New-York tribune., 1921-06-28
Crude Oil Prices Drop
Central West and Wyoming
Grades Reduced

FINDIAY, Ohio, june 272-Further re-
dncticna IN the prices of Central West
nounced here to-day by the Ohio Oil
Company. Central West grades were
all cut 25 cents barrel, while Wyo-
ming crudes were reduced Is cents n
barrel. New Central West quotations
are:
Lima, $i.5s; Indiana, s1.38; Wooster.
S1.s0; Illinois, si.27; Princeton, ST 1.27;
Plymouth, 65 cents; Waterloo, Is cents.
New Wyoming prices are: Glass Greek.
81; Elk Basin, 81; Big Muddy, SO cents;
Rock Greek, go cents; Lance Creek, e5
cents and Mule Greek. A5 cents,
New-York tribune., 1921-06-28
Tn Wall Street
Pool Report Denied

Reports that group of the strongest
New York banking institutions had
organized pool for sl00,o00,00o to
$5oo,o0o,000 to take care OF various
situations" were promptly and en-
phatically denied in high financial cir
cles yesterday. Bankers who would
likely be party TO such a pool agree
ment, If there were such thing
laughed at the idea, and the head Of
one Of the states biggest banks said
described it. In q joking way he ex-
pressed wonder if the amounts men
toned would be sufficient to take care
of all the Situations" that Wal
Street has been talking about.
New-York tribune., 1921-06-28
Railroads of Newfoundland
Threaten Shutdown Thursday

ST. EOHN'S, n. F., June 26.-Unless
-.cgotiations between the Newfound-
land government and Reid -Newfound-
land railway officials result in an agree
ment operation of the system will
cease at midnight next Thursday. The
system, comprising all the railroad
lines in the colony, has trackage of
nearly 1000 miles.
During the war the railroad was tax
en- over by the government. Recently
it was returned to its owners, who as
serted that expenses new so greatly
xsxceed income that it would be impos-
government aid. AS this was not forth
coming the deeision to cease operation
was announced.
New-York tribune., 1921-06-28
New Zealand Goes to London

Some weeks ago, when this market
was in high spirits and new issues
were coming out in steady stream,
there was good deal of talk about
possible financing in New York by va
rious of the British colonies. Actual
negotiations were begun for loan to
the Union of South Africa. These
failed to materialize. Then New Zea-
land was mentioned as seeking loan
and the name of Australia, which came
appeared again. Yesterday London ad-
vices indicated that it was ali off so
far as New Zealand was concerned, for
that outpost of the British Empire has
finally arranged a $4,000, 900 per cent
dotation in London which is being un-
derwritten at SO.
New-York tribune., 1921-06-28

Frank Hedley, president and general
manager, announced yesterday that the
lnterborough Rapid Transit Company
had concluded negotiations for fur
ther six months extension on the com
pany's six months notes, maturing
June 30. He further stated that if cur
rent earnings are maintained on fair
ly normal basis it will be able to pay
the interest on the |. r. T. per cent
bonds and the Manhattan Railway
rental, both due July /, in substantially
the same manner as these obligations
have been met in the recent past.
New-York tribune., 1921-06-28
Wyoming Crude Lower

All of the several grades of Wyom-
ing and Montana crude oils were re-
duced Is cents barrel yesterday by
the Ohio Oil Company and the Mid
west Refining Company. the two larg-
est interests in those fields. This re-
duction brings Salt Greek crude down
to SO cents d barrel, the lowest level
since 1914. The Midwest Refining or
ganization Is reported TO be taking only
$4,000 barrels of oil day from the
Salt Creek field, which is estimated to
amount to DO per cent pro-rationing
of runs. The effect of the fall in
prices is 90 eurtail new development
operations.
New-York tribune., 1921-06-28
ChandIer DIVIDEND Prospec.s

Referring to recent reports that q.
rectors ef the Chandler Motor Osll
Company may vote to omit div.dens
payments at their next meeting, +; =
Chandler, in a statement yesterdsss
said that neither the financial cona',,
ton of the company nor its volume -
business on hand or in prospect necess-
states revision of the opinion oficisl.
ly expressed at the last meeting OF las
board that the current dividend rsts
can be maintained.
New-York tribune., 1921-06-28
Livestock Pool About Ready

Although details of the $4,000, 600
New York and Chicago banking pool
to extend financial aid to the livestock
industry to prevent the killing of i'm
mature cattle are still being ironed out,
the plan has taken definite enough form
to lead local participating bankers to
look for it to begin functioning very
shortly, Stevenson E. Ward, vice-presi-
dent of the National Bank of Com
merce, representing the local banking
group that has signed for s25,000,O
participation, was in Chicago last week
comforting with the Western members
of the committee of organization and
administration. Confidence is expressed
here in the ability of the credit in
strument to meet an acute situation.
New-York tribune., 1921-06-28

Company when asked yesterday II they
thought the corporation would CONF
into the market with an issue OF oonos
expressed the opinion that no financins
is likely to be necessary this yess
The common stock was weak spot -
yesterdays market, breaking two poinss
net to 721@.
New-York tribune., 1921-06-28
Unclaimed Interest on Liberties

The Investment Bankers Association
of America in a statement to members
calls attention to the fact that on March
81 this year there was in the United
States Treasury $83, ICE, 1867 of unclaimed
Interest on government obligations.
On the same date there were 7,471,171
separate pieces of temporary Liberty
bonds of various issues, the principal
amount of which is $1,132, 100000. The
association in letter to its members
suggests that they include statement
of these facts along with their next
few offerings of securities, with the
view OF fastening the exchange of the
temporary certificates and the collec-
tion of interest due on them and on
other Liberty bonds. "We presume"
the statement reads, "that failure to
collect this interest is due either to
ignorance or carelessness in not pre-
senting the coupons at the time they
were DUE but more probably to the
failure to present temporary bonds, on
which all coupons should have been
cashed, in exchange for new bonds
with full sets of coupons running to
maturity"
New-York tribune., 1921-06-28
Paris Market Fir,ner

PARIS, June 27.--Prices were firmer
on the Bourse to-day. Three per cent
rentes, b6 francs so centimes. Ex-
change on London, As francs 81 CEN
times Five per cent loan, 80 francs
70 centimes. The dollar was quoted
at IL francs 361a centimes
New-York tribune., 1921-06-28
The Dollar i'm Foreign Exchange

Foreign exchange rates worked up
slightly yesterday, sterling advancing
IA cents to 9375%. With the excep-
tion of lire most other European cur
rencies were higher. Changes in other
parts Of the list were small.
New-York tribune., 1921-06-28
THE AMERICAS

ARGENTINA (par 42.44 cents "a paper
peso)
Demand .....so.2b soa5 41.5o
Gables .........3o.37 80.37 4170
BRAZIL (par s2.45 cents paper milreis)
Demand ...,...1O.75 1915 23.85
Gables ....:.. .10.87h 10.S7ih 2400
PERU (par $4.S6 a pound)
Checks ......... 1865 1858 4Ys
ECUADOR (par 4860 cents sucre)
Checks ..20.S6 20S6 -
CHILE (par 36.6 cents a peso)
Checks .........10.5O 1880 22Oo
URUGUAY (par 103.42 cents a peso)
Checks 1890 G3.00 -
VENEZUELA (par 1913 cents bolivar)
Checks 1906 1866
Canadian Exchange-New York funds In
Montreal, 1Sfs per cent premium; Montreal
funds in New York. 11N per cent discount.
New-York tribune., 1921-06-28
London Money Marke,

LONDON. June 27.- Prices improved
on the Stock Exchange to-day. Bar
silver, 351sd per ounce; bar gold, 1oss
od; money, per cent. Discount rates
Short bills, 6 per cent; three month
bills, az @5as per cent.
New-York tribune., 1921-06-28
Money and Credit

Call money rates were unchanged at
the Stock Exchange yesterday, holding
at the rates that prevailed late last
week. Government Withdrawals from
the banks to-day will total $4,000, 900.
The beginning OF the week found time
money quiet, with little new money
L
New-York tribune., 1921-06-28
Financial Ite,n

g. c. Leefe, for several years with r. NJ
Grant & Co. has severed his connection
with that Institution to become associated
with Stacy Braun, Mr., Leefe will cover
the New York City savings banks
New-York tribune., 1921-06-28

silver-London, 35%c; New York, do
mestic, bar, 99Ac; foreign, 58&c; Mex
lean dollars, 44Hc.
Bank Clearings-Bank clearings at
New York yesterday were: Exchanges,
S376,50O, 600; balances, $52,400,000.
New-York tribune., 1921-06-28
Bid and Asked

Following are the closing bid and
asked quotations Of stocks listed on the
Stock Exchange in which there were
no transactions yesterday.
New-York tribune., 1921-06-28
American Sugar

Banking interests closely identified
with the American Sugar Refining
New-York tribune., 1921-06-28
Transactions Yesterday i'm Listed Stocks
Summary of Stock Exchange Dealings
January I to date.

tCopyrigh, 1871, Now York Tribune Ino.l
STOCKS
The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1921-12-13
FREE -FREE---FREE

The first twenty-five customers enter store tomorrow morning will receive
merchandise You may spend the coupon like FREE FREE FREE
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1921-12-10
Z RARE ART EXHIBITS
HANGING AT GALLERY

Two collections OF pictures will be
on exhibition at the Public Art gallery
Sunday afternoon when it is open to
visitors from 2:30 until 5 o'clock. \
group OF over 100 color reproductions
of the works OF the great masters of
the Umbrian and Florentine schools
hangs in the east gallery. The pic
lures were loaned by William Dudley
Foulke from his collection. As fea-
ture of the Sunday afternoon this
week Mr. Foulke will be present to
give talk on the exhibition OF color
prints Everyone interested is vel
come to come.
The exhibition of charcoal drawings
and color sketches by Miss Anna Milo
Upiohn hangs in the north gallery,
forming one OF the most exceptional
exhibits OF child portraits and groups
that has ever been seen in the local
gallery. The exhibit is held under the
auspices of the American Red Cross
which commissioned Miss UpJohn To
visit those countries in Europe where
the Junior Red Cross is at work 10
draw types of children who are the
hanef;ciaries Of the loving unsetlsh
service Of the school children OF
America. In their turn the American
children are acquiring an intelligent
understanding of these far-away chill
dren. The drawings portray child-lite
in Albania. CzeCho-Slovakia, France
Greece. Italy, Montenegro, Roumana
and Serbia.
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1921-12-10
MUSIC CONTESTANTS
GET AWARDS TUESDAY,;
MANY PERSONS TIE

Due to the fact that there are so
many tying contestants in the Music
Memory Contest, conducted Friday
night at the high school, the prizes
will not be awarded until next Tues
day. and it is probable that extra com
petition will be necessary to deter
mine the winners, of the present tics.
This fact alone goes to show thai
there was very much interest taken in
the contest.
One of the notable facts of the con
test is that practically every group
was won with a perfect per cent. Tho
only groups not having perfect per
centages being mostly in the grade
schools. Several Of the groups had a.
many as six contestants tied for first
hOnors.
The grade schools of the city held
their contests in their respective
school houses Friday afternoon and
the final contest for adults was held in
the high school auditorium. Friday
night. The numbers were presented
on the violin, accompanied on the
piano
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1921-12-10
VERNON HINSHhW Is,
IS VICTOR IN DEBATE

Vernon Hinshaw, %, of Muncic,
won the Earlham oratorical contest
held in the chapel Friday evening
speaking on the subject "A Crisis"
Hinshaw is a we'll known college
debater. He was member of the
debating team at Earlham last veal.
BY winning this contest he is award
ed the honor of representing Earlham
in the state contest which Will be
held al Earlham in February.
The other speakers on the program
were Ruth Huffman, Disarmament"
Lindley Cook. "Commercialism, the
Curse of the Nation; Stanley Guyer,
The Portals of Peace: Leslie D.
Shaffer. The Martyrdom of Fools,
and Allan Wallace, characterization
of the Foreigners" All of the speakers
showed ability as orators and exhibit
ed a complete knowledge of their sub
ieCtS
The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1921-12-10
CHICAGO, INDIANAPOLIS
ARTISTS WILL APPEAR
ON MESSIAH PROGRAM

Visiting soloists who will assist the
Richmond Symphony orchestra and
Festival chorus in presenting Han
del's Messiah" at the Coliseum, Dec.
81. are to include three artists from
Chicago and one from indianapolis.
The soprano is Mae Graves Atkins,
recognized as the leading oratorio So
prano. of Chicago, and formerly solo
list for the Apollo Music club. Mary
Welch, also of Chicago, a mezzo-con-
tralto, once a soloist with the Apollo
club, will be another of the artists and
James Haupt, tenor, who was re-en-
gagged for solo roles by the Apollo
club this year. which make the third
artist from Chicago.
Edward LaShelle, OF Indianapolis. a
bass, who is we'll known and highly
recommended has also been engaged
for the Messiah" oratoriO. These art
lists are said to comprise the best list
that has appeared here 20 assist in the
concerts of the orchestra or festival
Single admission tickets for the
Messiah" with reservations will be
rs cents. The plat will open at Weis
brod's Dec. 10. The plat for season
tickets of the Civic Music association
is now open at Weisbrod's. The price
Is $3.50 with reservations for the nine
remaining concerts of the season in
Guiding the Messiah"