The Birmingham age-herald., 1922-01-18
Southern Railway Mortgage Bond Issue
 Ouersubscribed
By Associated Press

New York, January 17.-J. P. Morgan md company today op- ened and imm ediatcly closed sub scrIptiOn books for a $3O,0OO.0OO development and general mort gage bond issue of the Southern railway, bearing 6hs per cent in- terest. It was announced the is- sue was heavily over subscribed.
 Washington, January IT. Charles E. IngersOll yyas author ized by the interstate commerce commission today to retain his place as director of the Penn sylvania railroad, but was re- quired to resign within 90 days either as director of the Missouri Pacific or as president of the Midland Valley railroad.
 Chicago, January 17.-Chicago's &2,70O,0O0 municipal repair shops have been closed as n failure, 1t became known today, following an investigation by n committee of aldermen, because city work done there cost 300 per cent of what 1t would have cost on the outside.
 Selma, January 1.-The 5-cent loaf returned to SeIma today. An- nouncement was made by n lead ing bakery that its ovens would turn out n jitney product, start ing at once. Other bakeries are expected to follow.
 Washington, January 17.-J. c. Murray, receiver and general manager of the Missouri and North Arkansas railroad, which hns offered to resume operations If the government will arrange n S3,5OO, 900 loan and better earning conditions, went on the stand to- day before interstate commerce commission representatives In support of the application. He outlined the request which the railroad has made for a 25 per cent increase In the division of joint rates made by trunk lines with which it connects, and through which some of It's traffic passes.
 Rochester, N. Y., January IT, George Baldwin Selden, inventor of the first gasoline propelled ve- hicle, and a pioneer in the present automotive industry, died at his home here today. He was presi- dent of the ScIden Motor conn pany of this city and was 77 years old.
 Washington, January 17.- Charges that there was graft in connection with the ordering of the construction of the new dis trict federal reserve bank build ing in New York. were made to- day in the Senate by Senator Hef- lin, democrat, Alabama, in the course of m attack on Governor Harding and other members of the federal reserve board.
 TOlxio, January T.. Rumors that American silk buyers fntend- ed to boycott Japnnese silk on ac- count of high prices of raw mn- teriai, due to manipulation, caused n break of points in yesterdays YOkohama market, which closed in n panicky condition after a day of enormous sales. Todny's mar ket was slightly steadier. The rumor Is said to have been m out growth of s report from the Jap anese consul In New York, the report being meant merely as n warning. outlining certain dissat- isfacti0n on the part of Amer ican buyers regarding the state of the Japanese market.
 Washington, January 17.-Re- quest of the California Associated Raisin company for dismissal of the bill filed against that com pnny in the southern district of California for violation of the sherman antitrust law. has been denied, Attorney General Daugh- erty announced today. Instead of diminishing the case, Mir. Daugh- erty said, a decree will be entered today or tomorrow containing comprehensive and sweeping re- strictions concerning the relations of the company towards vine ynrdists. competitors and the public.
 London, Janunry 17.-The sub scription books for the treasury bonds carrying 51x per cent in- terest. which had been bought to