davidaulloa/AmericanStories huggingface dataset:
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
Ismet Pasha Fails
To Prove Justice
Of Turkish Courts

LAUSANNE, Dec. 28.-Ismet Pa
sha has failed to persuade the United
States and the European powers that
Turkish laws and Turkish courts af-
ford adequate protection to the life
and property of foreigners residing in
Turkey, and the Near. East confer
erce stands in grave danger of break
ing up on this question.
Europe and America insist that
judges sit. must administer Justice
to foreigners in Mustapha KemaPs re-
public. Ismet Pasha declares. that
such courts would be an infrin cement
on Turkish sovereignty. In fact. he
reiterated this declaration so often
at today's stormy meeting of the
commission on capitulations that
Lord Curzon retorted:
II beg that 1smet Pasha wrap up
and place carefully away in a cup
board this question of. Turkish SOW
ereignty, which nobody wishes in the
least to offend. Turkey is not the
only country which enjoys sovereign
ty-many other powers have it, and
frequently greater powers than Tur-
key submit questions to international
tribunals without fear of impairing
their sovereignty rights
1smet had declared that Turkish
laws and Turkish courts were the
equal Of any in Europe so often, Lord
Curzon continued. that he had actual
ly come to believe it.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
The Premier nvestment-VII

record. Once this record Vas spoil,
the banker would lose his most val
able asset, and would find his C.
toners refusing to buy more BOND
For this reason, every issue Of re
estate mortgage bonds Offered BY
reliable investment banker las b
mind it what practically amounts
a pledge OF financial responsible
on the part of the banker.
Some investment firms dealing
real estate mortgage bonds ri
it a practice to formally guaf;
their offerings. In other W
they pledge their entire capit
a guarantee of payment G.
times they make a slight charg
this service-in other words.
offer slightly lower interest
in consideration OF what they Il
as additional safety.
Personally. l do not believe
this guarantee adds materially
safety Of the bonds. In the
place, as I have already pointet
any good banker virtually q
tees his bonds safety, wheth
does so in so many words 0.
In the second place, any inyeg 3D.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

will come as a great surprise. Kirk
is one of the best ends the Big Ten"
has produced in years. 1t was felt
certain that he would be selected.
Most of the critics picked Kirk and
Muller as the ends. Camp gives Tay-
lor of Annapolis the preference over
Kirk. =
Placing McMillen Of Illinois on the
third team win not meet with the
approval of many Of the middle
west critics. McMillen was the class
Of the western guards and it was be-
lievcd that Camp would surely find
a place for him on his first team.
Weller Of Nebraska, a wonderful
tackle, was entirely overlooked in
Camps rating. Sack Of Pittsburg,
sterling guard, failed to get mention.
John Thomas OF Chicago is placed
at fullback. Undoubtedly Camp saw
Thomas in action against Princeton.
Basing his opinion on that game
Thomas was bound to be placed on
the first team. No football player in
the history of the sport ever played
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
Atlantic SeabOard
Clutched By Gales;
Many Vessels Wreck

NEW YORK, Dec. 2S.-The north
Atlantic seaboard tonight was clutch
ed by gales such as have been raging
off the shores of England and France
and sweeping mid-ocean.
As the cables brought more stories
of death and suffering overseas,
small vessels began piling up on the
Jersey and Long Island shores: the
number OF craft normally entering
New York harbor was reduced by
nearly one-half; at least two out
bound steamers dropped anchor in
Grave Send Bay after passing out and
fear was entertained for the safety
of at least one steamer-the German
freighter Heinrich Kayser, bound from
Savannah for Brennan, which was
last reported in distress 500 miles off
Cape May on December 9Th.
Hardly had the weather bureau
hoisted signals warning of northeast
gales off the north Atlantic coast,
when Asbury Park, N. j., reported
that the schooner Annie Belle, Of
Baltimore, carrying a small cargo of
whiskey, had run aground in the
thick weather, but that her crew had
waded ashore.
Jersey Quasi SudluS c4>o lSpOA leu
the fact thta an abandoned cabin
cruiser marked * 12090," had been
driven up by the surf.
Early this afternoon the schooner
Madonna V, out of Halaifaax, crashed
on to the Long Island shore near
AIontauk Point and was reported
breaking up in the surf, with a cargo
Of liquor. Her crew was landed by
breeches buoy.
Ashore the storm increased in in
tensity as day wore on. a cold, driving
rain, lashed into sheets by the wind,
slowed traffic and caused many ac-
cidents and more than a score of per-
sons were seriously injured. Upstate
there was a heavy snowfall, and it
was believed rain in New York would
turn to snow before morning.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

greater game than did Thomas
against Princeton. lie scored the
three touchdowns made by Chicago.
South Entirely Overlooked.
Gulian of Brown was favored by
most OF the eastern critics for a
guard on their All-America team.
Camp places him on his third team.
The only action the south gets is
Bomar at end and Barron at full
back on the second team. Red Rob-
erts of Centre is entirely overlooked
this year.
Camp places Fullback Locke Of
Iowa at quarter. A majority of the
Big Ten" experts did the same thing
in order to place John Thomas at full.
However, when Locke was considered
as fullbac1, all the western experts
gave him preference over Thomasa.
Camp has selected three mighty fine
teams. However, it's the same old
story when the opinion OF one man is
submitted against the football experts
of the country. 1t can't be done and
escape criticism.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
Five Railroads
Are Consolidated

CLEVELAND, Ohio. Dec. 2S.-Con-
solidation of the New York, Chicago
and st. Louis (Nickle PIate), the
Chicago and State Line, the Lake
Erie and Western, Fort Wayne, Gin
cinnatl and Louisville and the ToIe-
do, st. Louis and Western (Clover
Leaf, was approved here today by
the boards of directors of the five
railroads. representing an authorized
capitalization Of $105, 10000 and
operating 1895 miles of road, w. A.
Colston, vice president and general
cousel of the Nickel Plate, announced.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
Germany Requests
u. S. Commission
Study Preparations

10y AsoZB-La -Fh+ --|
WASHINGTON. De-. @S.--t w.
aspects Of the move f"r an amer.
commission to inquire INTO Gerlna..
ranacity to pa regulations came
Fight today when the Chan1'e'
Commerce OF the United States n
rublic a dean.r, request from -,
man business n1on mat such
mission be appointed.
me reo..ae. was tra". 3d..
through the German industrs-a'
handles tag. a rational organ.
representing German bushes J"
csts.
In reply the chamber q com1s.
expressed gratification at II. ''
dence shown IN American i..-.-
leadership, but deferred a de1'-''s
cfsion pending discussion Of the ''.
rations question by the c5-..--
allied pvcmiers al their NEE ~
Jan. ..
The correspondence, AZ mac
JIG. contains 40 reference 10 pc
discussion Of the p.oyect, aithots
II is known t.a- III less g..
way the American commission r.
hae bcnn ,.it.s. consideration IN 'f
nran,. re ni;ed states ana O..
ec,-,7.r--@ for seEeral weeks. q
one allusIan - made TO the fa0. y
,l.e plan has beeu discussed ak
rre.rfgIs If tie interested -'
e4n1-s. CGe cableCran 81 the '.."
-..-lfrsrrie und haudelstag
n-orc'y hat tire German gove1E.-
All l. pleased 20 weIcome 81 r.
commission" and open to it al ''.
f information.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
First Eleven
By BILLY EVANS.

NTHEN ono football expert pits
Wy himself against the world at
large, his selections for an All
Etmerlca team arc sure to meet with
, much criticism.
Walter Camp has selected very
fine eleven as Americas best, but it
is certain to draw unkind words from
many quarters. Critics in the mid
die west win pick the team to pieces
because Of the failure Of several stars
from that section to be placed.
Seven Of Camps first team are from
the east. Three are from the mid
die west and one from the coast. The
south isn't given any representation.
The fact that eastern football did
not demonstrate any great superior
--ity over the other sections Of the
country is not going to help justify
the selection of seven eastern men.
Kirk Loses Out
The failure Of Kirk to win a place
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

sells, Now the Great Lakes are
closed to passenger navigation for
the winter-but the flying boats are
stfIl busy.
As passenger traffic slackened in
the north and people started south
for the winter months, the flying
boat fleet Joined the geese and robins
in their southern hegira, and made
their headquarters here. Regular
flights have been Instituted between
Key West and Havana, Cuba, which
were ushered in with much cere-
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
Timber and Coal
Lands Bought By
Ford; Millions

BOSTON. Dec. 28.--The Ford Mo-
tor company today acquired the coal
lands, mining plant and equipment Of
the Pond Creek Coal company in Pike
county, Kentucky, in transaction
involving approximately $4,000. coo.
Announcement of the sale was made
tonight at the close of an aH-day
conference between W. H Smith, rem
resenting the Ford interest; Thomas
b. Davis, president: OF the Pend
Creek company, and members OF the
board of directors of the latter c mi
pany $50 -
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

mony by Cuban government execu-
tites
THE flying boat as means of
quick, safe transportation is a per-
manent fixture in America now" de-
Glars c. F. Redden, president Of the
Aeromarine Always. Our planes,
cabin enclosed, ar as comfortable as
Pullman, and as we have carried
over $4,000 passengers without acct
Gent. Insurance companies now is
sue special fight insurance to hold
ers OF our tickets"
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
TWO MEN KILLED
IN SAN ANTONIO

SAN ANTONIO, Texas. Dec. 28.~-
Two men were shot to death at 1890
o'clock Thursday morning in the
business section OF Somerset, IS miles
south of San Antonio, as a result of
trouble said to have had its origin in
the discharge of a teacher in the
Somerset public schools. The dead
are: :
Prof. w A. Chapman, 4S, superin-
tendent of the Somerset schools; j.
Glynn HARDWOOD, %, oil field worker.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
by NEA Service.

KEY WEST, Fla, Dec. - THE
birds OF the air have nothing on the
ships Of the air, when it comes to
travelling with the weather.
All summer long. the Aeromarine
Always successfully operated fleet
OF four 11-passonger flying boats be-
tween Cleveland and Detroit, in COM
petition with the Great Lakes yes
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
9Another Football
Game Is Proposed

Another game between the Navy
and Pensacola football teams for next
Sunday is being considered. The local
boys won over the Navy last week
and are anxious 10 play again.
Last weeks game was hard fought
the locals winning by II to 6. Each
,r team scored a touchdown, Cages two
drop kicks winning the game.
q A decision by Referee Brazzell that
allowed McVoy to score a touchdown
for the locals has been the subject
tof discussion and the navy desires
another game to prove conclusively
tho city football champions
Doyle would not appear in the navy
n lineup, the crack backfield man being
p transferred. However Skey, COMBS,
Burlngamc and other stars would
q wear navy uniforms.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
Penn State Will
Play Dixie Teams

STATE COLLEGE, Pa. Dec. Is
The Pennsylvania State College 1928
football schedule, announced tonight,
included contests with. North Carolina
State and Georgia Tech. both new
corners.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
EXPLOSION IN DUBLIN

DUBLIN. Dec. 2S.--The whole .
as startled this evening b. 8 ''I
xpiosion. far exceeding ths IAN
etohatlorI of q bomb. Tie sHf.''
.ccurrsd in q ship IccuDse2 H.
fealer in musical ins,rusnr@.-,
-ullougn by name. IN I'a"F J. 3D.
where either land mir
other gcrat e&piUsiNy vs. So '''
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

banker, with a large list Of c.
toners, is very likely TO have O.
standing at all times, a volume
bonds very much greater than t-
bankers capital. The capital the.
fore, which is pledged as a gusra'
tee, actually amounts to only ic
cents on the dollar OF the to-.
amount OF bonds outstanding. !
the last analysis, the safety Of the
bonds rests very largely on the r.
tegrity and good judgment OF {.
banker. A formal guarantee cam.
take the place of such integrity ar
good judgment.
copyright, 1922, by c. L. Aiu.r)
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
Joe Bersega
Is Dead Here

The remains of Joe Bersega, 81, who
died yesterday, at his home, POI S. 10th
avenue, following a brief illness, win
be sent to Milton tonight for burial.
The deceased is an Italian by birth
and has been jim the city for the
past six months. He is survived by
his widow and one daughter.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

TO touch apples, when cooking,
with 4 steeel fork or knife leaves a
sharp, acrid taste. A silver knife
or a wooden fork or spoon should be
used.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

Young oysters enjoy 4S hours life
as moving creatures, then settle
down for life.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

There are still so many wild bears
in France that 1000 We're killed in
one department in 1921.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

Something was said in the preced-
ing article OF this series about the
care which the real estate mortgage
banker must exercise at all times
to make sure that the bonds he has
sold to his customers are safe and
continue to be safe. This is mat
ter quite apart, however, from the
financial responsibility of the invest
ment banker. 1t should be clearly
born in mind that the bonds which
this banker offers to his clients are
in no way his own obligations. He
does not sign them and does not
promise to pay them. They are
signed by the man, or the men, or
the corporation which borrowed the
money and erected and owns the
structure which secures the bonds.
Thus it will be plain that the iSl-
vestment banker himself could die
or retire from business or go into
bankruptcy without affecting the
safety OF the bonds in any material
way. The supervision which the
banker exercises over a bond issue
at all times is carried on in his ca
pacity as trustee of the loan. AS
trustee, he is responsible, before the
law, for the faithful performance Of
his trust. If he should die or be-
come unable to carry on his work,
or if he would be forced into bank
ruptcy, another trustee would be
appointed. This provision for the
appointment of new trustee is en-
bodied in the deed of trust, and it is
customary for the circulars which
describe real estate bond issues to
state that Successors in trust are
duly provided"
The fact that the investment
banker is not legally responsible for
the payment of the loan is source
of strength in real estate mortgage
bonds. If the banker were selling
his own obligations, he would no
longer be an impartial, disinterested
Judge of investments. Consciously
or unconsciously, he would be I'M
PEELED to sell more bonds than he
could readily pay and the quality OF
the security would deteriorate. BY
ali means, it is best to require the
banker merely to use his
best judgment in safeguarding loans.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
Some Investment Features

The description OF real estate
: mortgage bonds which I have given
in this series of articles has now pro-
ceeded far enough for us to get a
very clear view of the fundamental
/ character of this form of investment.
The buyer of such bonds obtains in
the first place, a mortgage on a
single piece of property whose value
and character have been thoroughly
| investigated by a reliable and disin-
| terested banker. The investor and
the banker have common bond OF
! partnership III seeing that the loan
is safe. The banker in his capacity
as trustee, after the loan is made, ex-
crcises close supervision over the
| property.
AS an additional assurance to the
investor, the banker sometimes ar
ranges to have the bonds Certified
by a bank in the city where the
building securing the loan is located.
Certitlcation means that the bank S
attorneys carefully examine the
form of bond and deed OF trust
AMI signify on each bond that the
bond is, III their opinion, a genuine
one, being one Of series secured b.
the mortgage. No bank, of course,
is going to perform this service for
an investment banker unless con-
WINGED OF his reliability and good
standing. Hence, bank certihcation
means in practice a good deal more
than the simple wording of the GER
tlhcate attached to the bond.
When, in addition to these safe
guards. the investor can secure
bonds in such convenient denomina-
tons as 500, $500. or 81 900 and can
obtain an unusually liberal rate OF
interest, it is small wonder that an
increasing number of people are con-
stantly putting the greater part OF
their investment money into this
form of security.
Bankers Financial Responsibility
While the investment banker, as
indicated above, is not legally re-
sponsible for the payment Of the
bonds, because he does not sign or
endorse them, nevertheless every in
gestment banker OF high standing
holds himself morally accountable
to his investors for tho kind OF
bonds he offers. No investment firm
which had built up a reputation for
safe dealings, would dare to under
write a bond issue which does not
conform with the highest require
rents. If any bond issue went bad
IT would clearly be to the interest Of
the investment banker to shoulder
the loss himself, rather than to per
NIT his investors TO suffer. One oi
Pie. strongest arguments which any
real estate mortgage banker can adj
vance IN favor of his bonds, is their
safety. Most of these bankers have
built up their investment business
by pointing to their unbrokcn safety
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

Pedigrees OF the Arab horse, said
to be the oldest known domestic
breed, can be traced back 1900 years
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

BASEBALL MEETING POSTPONED
CLEVELAND, Ohio, Dec. 2S-The
annual meeting Of the National Base
nan federation, which is to be held
In Pittsburgh, has been postponed
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

English oak used in building West
Hall, London, was felled be-
tween 1893 and 1895.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29
Tigers Will Play
First Cage Game

January / will see the first cage
battle Of the P. II. S. squad when
the Tigers and p. II. S. Alumni meet
on the Y. NJ. c. A. gym.
The Tigers will be composed Of
Raymond Marsh and Buck Mitchell,
forwards, Harold Stearns, center;
and Bill Loftin, Brent Watson and
Jay Hall, guards. The high school
alumni will include Alex Olsen, Stanley
Wolfe, John Lewis Reese, Dudley
Gum, Henry Frater and probably
Kenneth Fulghum.
Coach Banks has not scheduled any
further games but will do so after the
holidays are over.
from Jan. until Jan. 81. il was an
nounced by Secretary Fred w. Thorn
tO6aV
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

When this series OF articles IS
completed, copies may be OBJ
tanned in booklet form. Requests
should be addressed at once IN
G. L. Miller & Company Inc.
Atlanta, Ga, or 90 Eds! 43T1
! Street, NcaO York, ". 7.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-12-29

10 Discount on City Taxes
if paid this month.
Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1922-09-30
CITY Street
LIGHTING SCANDAL

Edward B. Ellicott, former chief
of the City Department of Gas and
Electricity, is quoted as saying that
specifications for installation of A.
900 new street lights, furnished bid
ders by Commissioner of Gas and
Electricity Carlson, were such that
not even "a reasonably accurate es-
innate of the cost of the work" could
be made by bidders.
Mr.. Ellicot't report, together with
a letter from Shelby M. Singleton, Sec
retary of the Citizens Association,
declaring that "these specifications
did not furnish an honest basis for
intelligent bidding and left the way
open for throwing the contract to a
favored bidder" were received by
Mayor Thompson.
Mr.. Singleton renews his demand
that the bids on the big job be thrown
out and the contract readvertised.
At the request of the Midwest Con
struction company, Corporation Coun-
sci Ettleson is now making an inves-
tigation of the bids submitted follow
ing Mr.. Carlson's announcement that
the bid of the A. & A. Electric com
pany, which totaled about $1,600,000
would be accepted.
1T is impossible to make even a
reasonably accurate estimate of the
cost of construction called for under
these specifications because the data
necessary to base the estimated cost
of the various classes of work is not
contained in the specifications OF
plans" Mr.. Ellicott's report says.
"The fundamental fault lies in lacl
| of plans of the work to be done With
| out such plans no contractor car
| make an accurate estimate of the
| cost of the work and without know
| ing the cost an equitable price can
| not be established
Mr.. Ellicott says that Mr.. Carlson
even failed to give bidders the ap
Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1922-09-30
Strongest Man on the Democratic Ticket
Will Probably Head the Poll. Demo-
Gratis Confident. Prepared
for Battle

man; O'Connell, SABBATH, Egan, Stuck
art, Legner, Nash and Powers.
OrganiZation-Den J. Egan, chair
man; Walsh, Lynch, Denvir, Kunz, Nc
Kinley and H. L. Berger.
Halls and Speakers - Clayton +.
Smith, chairman; Murley, Schapp,
Roeder and Nj. P. Byrne.
Publicity Michael l.. Igoe, chair
man; Mullaney, Denvir, Rushkewiscz,
Sullivan, Russell, Traeger, Sloan and
Doff.
First Voters Joseph o. Kostner,
chairman; Clark, Weber. Hogan and
McDonough.
Registration and Election William
Legner, chairman; Quinn, Graham,
Lyman, John Smith and John j.
Leonard
S
Other committee chairmen were
named as follows: Athletics, Dorsey
Grove; headquarters, Thomas P.
Keane; country towns, Joseph L. Gill;
naturalization, Stanley Kunz; loop
stores, John f. Traeger; business men,
Richard s. Folsom; ex-service men,
Palmer Edmunds. = sa
Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1922-09-30

proximate number of cast iron posts,
concrete posts and steel posts he ex-
pected to install and that he reserved
the right to specify both the number
and types of posts to be used after
the contract was awarded.
There are $4,000 posts in Chicago
now" Mr.. Carlson said, in reply
They cost about $12,OOO,OO0 Under
my proposal to accept the A. & A.
concerns bid $4,000 or 25 per cent
of the number now in use, would be
installed for $1,6O0,0oO, or about II
per cent of the cost of the $4,000
posts"
Mr.. Carlson added that by giving
Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1922-09-30

Robert M. Sweitzer will lead the
Democratic ticket at the polls on No
vember T.
Sweitzer has made an ideal record
and has ran the County Clerks office
without breath of scandal uttered
against any part of his big public
trust.
Sweitzer becomes more popular
every day and no one in public life
mentions his public record except with
words of praise.
@e
Democrats expect a landslide this
fall and there is no doubt but what