davidaulloa/AmericanStories huggingface dataset:
Imperial Valley press., 1922-02-09
Cal@Xic0 News
FROM PRESS BUREAU
I20 Roch,uood Avenue Telephone 327
Telephone 327

with her infant, had arrived by train.
She conferred with the officers and
stoutly denied that her husband had
done anything wrong to the Hallstead
girl, who she said was friend OF
theirs. "You cannot arrest him, be-
cause of our baby" she cried. He has
done no wrong. There is nothing to
arrest him on"
Late last night Deputy Sheriff Sill
yer held conference with Col. Fran
cisco Avila, Inspector of Police of the
Northern District, and explained the
case to him. That officer at once de-
tailed two plain clothes officers to
search for Marshalle and the girl.
Marshalle and the Sirl, it was be
leved from the information gathered
by Inspector Avila, were being CON
cealed in some private home in Mexi-
cali. Mrs. Marshalle, who crossed the
border was believed to have been in
communication with her husband, and
she informed the officers this morning
that her husband had gone to Ense
NADIA and that Miss Hallstead was in
the hands of friends. That the wife
is trying to shield the husband, be-
cause of her infant child is the belief
of the officers on both sides of the
line.
Imperial Valley press., 1922-02-09
APPOINTMENT TO HAITI
United Press Leased Wire

WASHINGTON, Feb. 9.--Brigadier
General John II. Russell, of the marine
corps, is to be appointed as special
representative of President Harding
to investigate conditions in Haiti.
The appointment Of Russell, who
previously has been in command Of
American marines in Haiti, will'bc an
nounced soon, it was said
Imperial Valley press., 1922-02-09
STOPS SHIP BUILDING
United Press Leased Wire

WASHINGTON, Feb. 9.-Secretary
Of the Navy DENLY has issued an order
stopping work on all capital ships
with the exception Of the Colorado.
This step was taken with the approval
Of the White House, it was announc-
cd
Imperial Valley press., 1922-02-09
GIEBONS-GREE FIGHT

NEW YORK, Feo. 9.-Tommy Glib
bons and Harry Greb, light heavy
weights, have signed with Tex Rick
ard for fifteen rounds to a decision
in Madison Square Garden on March
Is.
Imperial Valley press., 1922-02-09
A TOAST TO CENTRAL HIGH

Music by f.. A. Todd Anonymous.
Come C. a rah rah dazz Boom!
For al swiftly fly.
Here's boys, ehahUng
Wen drink a o High.
At first we're "Frosh" from ali the schools,
Most humby knocking a O
Then presto change! We're doughty Sophswisc fooIs
Then Juniors; hen Of for COLES
rah! Ka.ooze eoOzle-a
we e'e 0 as
Wei w fought for c viii. and
And football basket
Al baseball track and ALL
Aud before studied a tOu.
a RAJ tazzlelo
that all 90 sN
Here's owe the top boys One, tNo hree,
Wen and 90 for Cutra Hight!
college
Creer recital Christian church Friday evening
The Washington times., 1922-12-12
TO GUARD PUPILS
IN DIPHTHERlA EPIDEMIC

CAPE CHARLES. Va. Dec. IA
After consultation between the
school board and the board Of
health Of Cape Charles. Il was de-
cided to reopen the public schools
today. with>>a trained nurse kept
continuously In the schools n long
as may be necessary. or until
the diphtheria epidemic has been
checked.
The schools Of the town were
ordered closed last Thursday morn
ing by the health officer. DR.. G. L.
Nottingham. until january I. a. II
was found the number Of cases OF
diphtheria was increasing. How
ever, since that time the spreading
of the disease has been checked
somewhat. Saturdays report showed
but twenty-five cases where the
families were quarantined. and
many of these were improving.
The Washington times., 1922-12-12

e.: :: &C.: z; :: e; ::
Telephone Service Connection
Charges
When you apply for telephone service, there is
sary series Of forty different items OF work
which the Company do before the service ready
for your
Order. must be written and distributed; your
and associated information placed various department
records wire assignments made; directory records esab
lished; "nfomation records posed wire installed from
cable terminal the telephones telephone installed and
service started Thus records and plant facilities
arranged to make your telephone a part of the general
telephone system
When YOU request the discontinuance Of telephone
srvice, there Is similar series Of detailed
changes and operations. In addition, of the wiring
must be abandoned and the labor Of putting in and taking
NE telephone loss. Our records and plant facil
ties must be again rearransed leave your tele
phone out Of the general telephone system -:
These 'ins" and "outs" of the telephone business
which call station movement-cost in the aggregate
large of money, representing substantial part Of
expenses
One way of meeting this cost is to make our regular
monthly for service high enough these
penses, thus placing it upon all subscribers This would
be unfair to those subscribers who require station
movement" long period Of time. They would
tribute toward the costs incurred BY those who require
service for only short periods who demand that their
equipment be moved Frequently from place place. This
believe fair basis Of charging for service
The other way Of meeting these costs s place them
wholly partly upon - particular subsczers for whom
this work Il done By Of Service Connection
Charge" This Il the method follow. Il 10 the gen
orally accepted method and Il consdere fair and
able TO all oenesrnsd
This.i why make .ssrvist Connection Charge"
for nssallaiions changes ef dsss and change. Of
%ss IT, I~rl~-~.k>L n.a
The Washington times., 1922-12-12
GOES TO PRISON FOR YEAR
AND FINED FOR SLAYINC

INTERSTATE. W. Va. Dec. IA
John Weekly. Of this place, in
Davis and convicted of Involuntary
granddaughter, was sentenced to
serve twelve months in the Harrison
county jail and pay $3.50 fine and
costs BY Judge John c. Southern
at Clarksburg.
Weekly was In company with
Davis wife when quarrel arose
which led to the shooting.
Davis and his wife were estranged.
New-York tribune., 1922-12-04
Value of DiversificaiiOn

Fo, some time past have interested reader Of
go column particular hare noted ho0 consistent you nave o
N your pgqeons certain securities for Investment purposes
In spite of fact Of tho securities oH arc "aoa0od
sp,ave primarily am sound nucstent securities ana
am as opportunity Offers trying to cd ont the spcdto issues INC
securities marlborough Rapid TraHst S' 1900 'ia
zs fsGs Denver Cv Trampnv 1885, Ne York Central conVeo
&c fes Knqdo Of Beg 7a 1915; Great Northern genera 49,
1885, 10 shares United Rubber Preferred 10 shares American Can
per Preferred 10 shares Chicago Rock Island fdco per ce
pred 10 shares Associated Dry Goods fret Preferred West Penn
Poper 5s f96 Pacific Gas Electric common 100 share
Cren Con- Gold; Fourth Liberty Loan; shares Shdger on hg
per cent preferred Becent Pack Co. cent preferred
Indiana M fsse Chicago Eric Be- 1889; shares TCy aiUay
ight New Telephone international Mercantile Marine
Gs lf Radio common and pcerod bought originally as
American MarcoaL
short time ago you itrcquenty recommended international
Marine i94f Investment Have conditions changed
your opinion the recent slump b reflection Of the market!
Can yo give any information relative to the Denver city Tram
ray deposited NTH the Bankers Trust suggested by
protective committee but hare been kept advised 10 Developments
Certain ia my list securities phch opHed
pror 10 the ar and ,hch deprecated tChc
hare since felt dsHcnd 10 sell at such DIG loss parc
ay dependent the income derived from holdings
for support
May yon OF my securities sound ehct
ioeak suggest such changes M strengthen s'
be Of interest to and possibly Others you H discuss the meaning
the phrase oad the underlying pncsthc type Of securities, the
proportion Of each, the trend Of the market.
friend nth the Radio Corporation and cho should
suggests holding IN opinion tho
year tho affairs company g have iproued
result sharp in the vauo Of the stock In your opinion
ndv opfmcl The money small and for that
il might pay take chaHeee-L II. Mex.
AnswerAfer reading preamble prepared
list Of securities in which the weak items predominaed
the Your speculative holdings the minority
number and the of money involved.
Aside from the Denver City Tramway your spots
Gold TrCity Railway Light common
stock Of doubtful merit
100000 Of this stock outstanding the public the great
majority being owned by the United Light Railways Company
Although hold five shares feel your position would be
strengthened by changing this stock hggrnde public utility
preferred such New York Telephone 6'4 stock
New-York tribune., 1922-12-04
Erie Position In Merger

ouestion-Your Investment column Is
well worth while. am a constant resdcf.
Hence this question. am manufacture
receiving about 0no.half OF my income
from my business and the other half from
a mixed Investment list Of the par value
Of approximately 100. 900. what DO you
think of Eric prior lien fs az 5s-6o7 tn
the case OF government combination Of
Eastern railroads VIII this issue BE- secure
what are the prospects Of n receivership
FOR the Erie7 DO you think that West
iughouse common at 50 is safo invest
ment for mo7 Does not the volume OF
their business and earnings warrant this
per cent stock 10 sell az higher prices. con-
sidering its par value Is 1907 have
twenty shares Of Railroad Steel spring at
iis Would you advise a purchase OF
twenty more at lit7-C. ID. W.
Answer-There is no precedent for
railroad consolidation on the scale au-
thorized by the transportation act and
tentatively suggested by the Interstate
Commerce Commissions plan, and IL
would be difficult, therefore, 10 state
just what the position Of the Erie prior
lien Is would be In the event that the
suggested merger should be consum-
mated. II is logical TO assume, how
ever, that the status Of the less we'll
protected Eric bonds would be i'm
proved by 4 combination with roads
such as the Delaware & Hudson and
Delaware. Lackawanna e Western. In
it's present condition Erie would have
everything 10 gain by the eommission's
own tentative plan, but this fact argues
against consent on the part Of the
stronger units suggested as parties TO
the merger In our opinion many years
will pass before any merger Is carried
out on the basis Of the commissions
plan. You probably know something
OF the position Of the Erie, otherwise
you would not be interested In putting
these questions. The Erie did not fare
very well in 1921 as a railroad prop
erty. IL was enabled 70 meet fixed
charges only by virtue Of extra dis
tributions on stocks owned, chiefly
Pennsylvania Coal Now, the result Of
operations for nine months Of 1922 Is
an even balance between railway op-
Grating income and outgo, with moth
ing available for fixed charges. The
Pennsylvania Coal properties cannot be
relied on perDetually TO make up Erie's
operating insaficicncies. II receiver
ship Is 10 be ayerted Erie must earn
money ns a railroad property. West
inghouso deserves a rank among the
better grade common stocks. IL -
favored BY stability Of earnings and u
Il had lent itself 10 active stock mar
ket trading operations the price would
undoubtedly have gone higher We be-
lieve IL would be a good investment
for you. IL sold close 70 rs in 1918.
Railway Steel Spring common ma'n.
tains some element OF speculation, but
the risk Is not too great for = person
Of your means.
New-York tribune., 1922-12-04
Inv estment Information
Hold. Japanese Bonds

oues,ion-As q reader Of your collmn
IN The Tribune I take tho liberty of ask
inR II you owned Sos 900 Imperial Japa,.
nese second rerios as ~ le2s, porchhsc1
at Is and interest, and 10000 lmpeflai
a. 81 1871. purchased AZ 30. what woul1
you 10 az this time. sell Or holdf " you
would cell what bonds would you Buy ana
whyf-o y. y
Answer-Our decision in a matter Of
this kind would depend on what ratio
this $4,000 par value Of bonds bears
10 total investments held. IL these
bonds constitute your entire holdings,
we believe IL would be TO Jour advan.
tage 10 sell at least 40 per cent OF
them and reinvest IN a we'll diversihed
list Of securities. With this In mind,
we suggest the following, because we
believe them 20 be good investments;
American Sugar Refining 6s, 1887; In
ternational Paper s., i9i7;. Bethlehem
Steel Gs, ie4S; Duquesne Light 6s,
1919; San Joaquin Light and Power s.,
1852: Adirondack Power and Light Or,
1850; 81. Louis-San Francisco prior
lien 5iks, 1912; Canadian Northern. 1s,
1910; Great Northern ~, 1885, Swedish
Government 6s, 1880, and Denmark 0s'
1912.
New-York tribune., 1922-12-04

We know Of numerous persons who
have diverted a small portion Of their
funds into a speculative account for
the purpose Of holding a small block
Of Radio common, with the expectation
Of realizing large profit on principal
year or five years hence. Although
we believe that radio is only in its in
fancy, VIC are unable 10 confirm your
friends opinion that there will be a
sharp rise in Radio common within the
next year. Cresson Consolidated Gold
Is speculative, and, although 70 Is su-
perior 20 Tri-City common IN point OF
marketability, the same reasoning ap-
plies 10 H.
A broad discussion Of the principle
Of liberalization is not out OF place
az this time, since there is a great deal
Of misunderstanding on this point We
hold that where the element OF risk in
creases II becomes more desirable 10
spread tho risk; that Is. 10 diversity.
II you can imagine a security that Is
entirely free Of risk, such q security
is suitable for 100 per cent OF your
funds. or the funds Of any one who
wishes 10 avoid risk. But safety" and
risk" are relative terms.
One security is safe or unsafe By
comparison with a class OF securities
set up as tho standard Of investment
worth. Absolute safety, therefore, is
an unknown quantity. unless you would
set up United States government bonds
as a standard. Even in his connection
II is worth remembering that German
investors considered German govern
ment bonds the highest type Of invest
men tbcfore the war, and II Germany
Lad won the war her bonds might still
occupy an cnviable position.
The highest type o. railroad mort
gage bonds are not too close to the
standard OF safety 10 justify any in
vestor putting al shis funds in one
particular issue. Thousands OF New
Englanders did so up 10 n few years
ago, when New Haven bonds were con-
sidered as sound as anything possibly
could be. Thousands OF other invest
New-York tribune., 1922-12-04
Nnl uIrh.Grade For.irn BJnd

co@s,lon--wli you please tell me what
KIND OF a riandirg the Colombia eNtsfna'
debt g. 1914. also the external gold -
1911. OF Colombia have They are feh-
irQ around IS. or at least were about ~ ~
weeks ago. i presume they arc Nttl.
less than that now. VIII you please let
ma know N these bonds arc considered 20
be about as good a. the chill sterling loanH
ana what IA the rating on COLOMBIA -
fernsi sterling loans7 II u j. Possible ios
YOU 10 ten ne. I would IKE 20 KNOW H
coIombla ever defaulted on any OF ner
loans and when and under what cfouh-
staaccsf-F. ~. }.
Answer Government bonds Of Co
Iombia may be rated on. par Win
Chilean government bonds. For puf-
noses OF comparison We prefer these
tissues TO those Of the Brazilian gov
ernment and consider Argentina as
furnishing the highest grade bonds oi
anv Of the South American republics.
The interest on tho Colombia per
cent consolidated loans Of 1896 was not
met In 1900 and the sinking fund was
not nut into operation; payments were
resumed In cash July /. 1905, and the
sinking fund was resumed January
1Q10
New-York tribune., 1922-12-04
Union Tank Car 7s

ouestlon-would you consider Union
Tank Car Ia. 1870. as high-grade bond.
and n u a nrst nortKagel Why IA this
bond selling around 100. while others are
nearer los. and would you recommend this
Tor a young man7 What do you think OF
New York Steam Corporation es7 Can
you suggest two or three first mortzag
bonds that come IN $500 pieces. aro listed
on the New York Stock Exchange, yield
Ing about "a per cent or II not nrst
mortgage ones which have good equity
aud earnings behind them?-0. NJ
Answcr-Union Tank Car Is are q
coed investment and are selling nt
higher than about 1903 mainly for the
reason that they arc callable az i02ls
on any interest date on thirty days no
tice. In view OF the fact that some
strong railroads have called in equip
ment obligations bearing a 6 per cent
interest rate, this callable feature acts
quite strongly As a barrier against any
great appreciation over the price at
which the issue may be called. The
Union Tank Is are secured b. a first
lien on equipment now in use. New
York Steam Corporation IS are rea-
sonably sound investment. As long as
you demand return Of 6is per cent
o. more We believe you would be bet
ter served in the market for preferred
stocks. ANY first mortgage bonds SELL
ing to yield 6l1 per cent have an ele-
ment Of risk in them. We suggest
American lee preferred. Western Elee-
trio preferred and Pero Marquette
prior preference stock.
New-York tribune., 1922-12-04
Would Borrow to Buy stock

ou.stion-wll you kindly give ne your
valued advice on the following, wheth'i ~
not II j. posdblel ] now bold ,,,,1'. en.
risar 0fty shares of American Tclephont
snd TcieTraph stock. which AZ tie present
narict price Of around "a repfeaeht. m ~
Investment Of approximately lt.loD. 49,
wish 10 secure another nfty shares OF I'M.
same stock or one with an cquifaleht
Yield. Now. could ] secure a bank i9hh
of say 80 per cent. or about ts.oVp. putilhs
the hfty shares which j nov Own up ~ ~
ioan me SIS. 900 ! would stu have 20 put up
si16a IN order TO secure the additional
nfty shares. The yearly interest On .hiiy
shares OF American Telephone and Tele-
eraph would he $3.50. Dcducting 1900
bangs interest az per cent I would have
net yield Of $3.50 on illb0 which / pat
up, or a rate Of approximately - per cent
Am correct m hgurins } 2 per cent inter.
cot from the 1850 on ti.i507 hlso would I
be able 20 secure such loan from bank.
ray a time loan which could BE- renewed
from time to timer Any advice that you
might give me as 20 the possibility and
the merits Of such a proposition would be
appreciated, as well as any recommend
tlon ss 20 the best banks IN Newark for
negotiating this business-D. +. s.
Answer-The plan you have outlined
involves an element Of speculation,
although it is practical il your check
ing account at the bank carries bal
anee sufficiently large 20 cntitle you
70 the privilege Of borrowing $4,000.
A banks funds as a rule are available
for loans 70 its depositors, but you
may experience some difficulty, We be-
lieve, in trying 90 negotiate a loan at
an institution Of which you are not a
customer. Your estimate Of 10 per
cent as the return on additional cap.-
tai outlay Of $l,150 is correct. Another
way TO figure the return you are re-
ceiving would be 70 consider that you
would have $1,000 invested in Ameri-
can Telephone and Telegraph stock go
shares at l23 and Sl,l50 additionaD
upon which you would receive divi-
donds Of 5000. Interest on your bank
loan would be $500 and your net re-
turn $500, or about 500 per cent on
your investment Of $1,000. You have
evidently overlooked one factor which
is important, and because OF its press
ence we would not recommend using
The method you suggest for investment
purpose. What is TO prevent decline
In the market price Of your collateral
When an institution makes collateral
loan a provision OF the note that the
borrower signs requires that the mar.
ket value Of the securities pledged
shall provide sufficient margin over the
amount OF the loan, and the margin
exjsting at the time the loan Is made
Il the amount termed sufficient. A
loan is made for a specified period and
no guaranty Of renewal privilege IS
given. Your note might come due at a
time that required payment, and II inc
market price Of American Telephone ana
Telegraph shares had declined eonsid-
erabiv YOU might be called on to dis
nose Of part of your holdings and thus
incur A loss OF principal that you had
not taken into consideration.
New-York tribune., 1922-12-04
Timken Roller Bearing

Question: would bo pleased 10 have in-
formation regarding Tlfnker Roller Bear
ing Has this company bonded Indebted
nesse What 70 the capitalization and
number Of shares outstanding &c. +. w.
B Answer-The Timken Roller Bearing
Company was organized more than b
score OF years ago and is now said
20 be doing half Of the anti-frietion
roller bearing business.of the country.
Most Of the large automobile manufac-
turers are customers. The company
has no funded debt and there is moth
ing ahead Of the 100000 shares of no
par capital stock. Current liabilities
on June 80 were estimated at Si,S9l,-
00O including tax reserve. Against
these the company had current assets
in excess Of si0,000,00O, Of which
nearly Sb,000,O0O consisted Of cash and
government securities. Earnings for
the first half Of the year were placed
az S4,O95 900, after taxes, equivalent 10
S3.40 a share. The present annual div
idend rate Is So.
New-York tribune., 1922-12-04

bonds and good preferred stocks, each
20 the amount OF $4,000. would be
good medium for the investment OF
your $4,000. We suggest the follow.
ing: Canadian Northern Is, due 1870,
yielding about SO per cent; ST. Louis
San Francisco prior lien 5ias, due 1912,
yielding about G per cent; Yirginian
Railway 5s. due 1862, yielding about
90 per cent; Delaware & Hudson 5hs,
due 1897, yielding about 5.4 per cent;
American Sugar Refining 6s, due 1887,
yielding about 5S per cent; Interna-
tional Paper 5s, duo 1947, yielding
about per cent; United States Rubber
IS, due l947, yielding about 6 per cent;
Duquesne Light 6s, due 1919, yielding
about J.S per cent; Pacific Telephone
and Telegraph Is, due 1852, yielding 5.6
per cent; Montana Power s., due i943,
yielding about So per cent; United
Kingdom 5iss, due 1887, yielding about
5.3 per cent; Swedish Government 6s,
due 1899, yielding about 81 per cent,
and fifteen shares OF each OF the fol-
lowing stocks; New York Telephone
6A per cent preferred. National Lead
7 per cent preferred, Western Electric
Z per cent preferred and Endicott John
son Z per cent preferred.
New-York tribune., 1922-12-04

ors put all they had into ST. Paul
bonds ten or fifteen years ago, yet IN
tho intervening years s.. Paul issues
have dropped from the position Of gilt
edge TO one ranging from fairly good
90 highly speculative.
Thus there is need Tor d.ycrsifcn-
tion not only in railroad bonds as
general class but also within the more
restricted limits OF gl.-edge rails.
Properly diversified, an investment con-
tanning more than one railroad bond
would include the securities OF roads
operating in different sections Of the
country. so that the influence Of de-
preston in the industry Of one section
would not be too acutcly felt. Under
ordinary conditions depression does not
affect well situated first mortgage rail
road bonds, since the impairment Of
earning power IS only temporary, but
there are hazards In tho railroad in
dustry-no matter how slight and i'm
pcrecptible - that demand that the
slightest risk be distributed
The need Of dvcrsifcation in the
field OF industrial securities Is greater,
probably, than in any other class. You
need not look further than the record
OF the last three years 70 tind n multi
tude Of reasons more convincing than
any argument We could snt forth. The
same Is true Of the public utility field.
II makes a vast difference whether
company Is operating an electric light
plant or n street railway. m an in
Vestor decides 10 take the risks that 20
with tramwny securities he will find
even IN that restricted class the noces.
sity for diversifying The so-eallod
"one industry cities arc more danger
Gus from the standpoint OF the electric
railway company than are cities whose
industries are themselves diversified.
In n smaller degree this is also true Of
electric light companies.
liberalization. therefore, consists OF
spreading tho risk as 10 industries, sec
lions OF the country, municipalities and
individual companies.