davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1922-10-16
BOND PRICES !
|. BEGIN TOSH0W
SLIGHT DECLINE
Rail and Liberty Issues Shbw
Drop in Past Few /.
Months.
By MUNROE ROBERTS,


News Service.)
NEW YORK, Oct. 16.-It was
freely predicted. earlier in the year,
that the last two or three months Of
1922 would offer few opportunities
for investors to purchase high Sou-
pom bonds in the open market on
attractive terms. Had bond prices
continued the vigorous upward move
ment which characterized them in
the middle Of the year.. these predic-
tions would no doubt have been full
filled. However, the reactionary
tendency, which made its appearance
around Labor Day, has had the ef-
feet Of transferring a large portion
Of the investment demands to other
fields. and of bringing about.
moderate decline in prices.
A good many Of the speculative
railroad bonds have declined from
3 to 6 points in the last two months,
while Liberty AVS have also re-
treated below the par line. Whether
this tendency will continue or not
Is problematical, but 1t Is the
opinion of investment bankers that
theseN attractive securities will ,be
more sought after before the turn
of the year. Meanwhile there are
good many opportunities for the
purchase Of high-grade bonds yield
ing from to ~ per cent.
The official report in the Treasury
Department in the matter Of bids for
the new Treasury bonds indicates an
even wider response to Mr.. Melons
offering than has usually been ex-
pected. Subscriptions have already
been three times the amount OF the
half billion dollars worth Of boads
offered, and the books for cash ptIr-
chases have been closed, while those
for the exchange of Victory notes
will remain open for the balance Of
the week.
Financial experts figure that the
response to this offering proves
conclusive1y that the credit of the
United States has been established
on a basis lower than ~ per cent,
possibly as low as 4 per cent. Their
deductions, however. are open ITO
question, as It Is not sure that, a
4 per cent bond would have brought
such tremendous popular re-
sponse. OF course, the bankers ,of
the country would have insured, a
full measure of bids for a $500 ,0d0,-
900 Government loan at any rate
Of interest, but the Treasury De-
partment has been wise in placing
this matter on an investment,
rather than a patriotic basis.
New bond offerings today amount
ed to about $25, 5,0O0,0 900. the most
important being $10,000.000 South
ern California Edison Company GIN
eral and refunding mortgage per
cent gold bonds, due February" l,
1914. at s5 and interest, yielding
about $40 per cent: 1874 400
thirty-year 4 per cent bonds of the
city Of Philadelphia, noncallable. at
1011s, to yield 3.95 per cent.
The Washington times., 1922-10-16
WITH
! BRANCH BANK
! At BR0OKLAND
CongratuIate Officials on Open
Ing Of Merchants Bank and
Trust company's Branch.
, By HARRY GUsACK.

Directors and officials Of the Mer-
chants Bank and Trust Company
today expressed themselves as highly
. pleased with the first days business
or the Brookland branch Of that in.
stitution which opened today.
Peter A. Drury. president, and j.
l.. Sherwood, vice president and man.
ager Of the Brookland branch, were
showered with congratulations all
day by residents of that section, a
large number of whom opened ac-
counts in the new bank.
The bank is situated in a new
building at Twelfth and Newton
streets northeast. and has been
equipped with all modern banking
facilities. Members OF the advisory
board are all residents of that Sec
ton, and consists of Richard B. Dan
fels. Redmond Mayo, William Z. Rus
sell, Joseph Klein, John l.. Kause,
J, L. Sherwood and s. Stewart Poole.
Bunk Anniversary.
The American Commercial and
Savings Bank Is today celebrating its
first anniversary, and Edward Voigt,
1r., said to be Washington's youngest
bank president. was kept busy all
day receiving the congratulations Of
directors, depositors and friends Of
the institution.
Although but a year old, the bank
has shown a steady growth under the
leadership of Mr.. Voigt and an able
directorate In the one year Of it's
existence.
1t conducts a general banking busi-
ness, having both commercial and
savings departments, and is guided
by a liberal policy toward it's deposi-
tors in that 1t is paying per cent
interest on savings.
The bank owns a valuable banking
site at the southeast corner OF Sew
enth and G streets northwest, where
It intends erecting a modern banking
house within the next year, and.
judging from the success 1t has en-
Joyed at its temporary location, this
institution, when housed in its per-
manent home, will step into the lead
among the newer banks Of the city.
Bank Dinner Tonight.
Officials and directors of the In
ternational Bank will be the guests
at q dinner tonight at the Racquet
Club to meet DR.. J. r. Guthrie and
The Washington times., 1922-10-16
BUSINESS COMMENT
tcopyright, 1929. by Cosmopolitan
News Service.)

NEW YORK, Oct. 16.-Those who
have been giving their best efforts
to forming a correct conclusion as to
present conditions and probable
future tend of stock market, have
three important matters to consider:
First, whether tht period of super
abundant money for speculative pur.
poses is at an end; second, whether
the heavy demand for stocks which
was in evidence during the past two
weeks has had it's origin in any con-
siderable degree in investment
sources: or, third. whether 1t has
been mainly due to the temporary
effect of extra Equity" dividends,
about which, in general there is al
ways more or less delusion.
The declaration of a stock divi.
dend in most cases amounts to a
little more than distributing as.
sets in smaller blocks, giving the
investor nothing more for his
money, but making 1t possible for
speculators to deal more actively
in the stocks and to skyrocket
them to unwarranted price levels.
It Is obvious that assets divided
into smaller portions are not cap
able of increasing profits by the
smallest amount and this fact is
becoming more generally recog-
nized.
Little can be gained at this time
by q study of the comments and
opinions Of the commission houses
in Wall street. Sentiment is quite
evenly divided and predictions on
both sides are-~made with extreme
conservatism. They amount to
little more than the advice said to
have been given by John D. Rookie.
fefier to an intimate friend who in.
ouired as to which way Standa I'd
Oil stocks were likely to move in
the market. Mr.. Rockefeller's con.
fidential reply was "young man.
they will fluctuate."~
II there Is any point upon which
professional opinion seems to be in
harmony, however, 1t is that the
railroad stocks have far from dis
counted the long season of pros
perity which lies ahead Of the car.
rier systems and that stocks of
leading railroad companies are quite
apt to move higher rather than
nlower.
II these common.sense virtues
be generally exercised, things
should steadily, IL somewhat slowly
move toward reasonably good times.
tcopyrieht, 1922. by b. c. Forbes)
The Washington times., 1922-10-16
STOCKS
MAKE GA|NSIN
EARLY TRADING
Active Demand Made for Bet
ter Grade of Rail and In
dustrial Shares.
BY w. 8. COUSINS.
Copyright. 1929, by Cosmopolitan
News Service.)

News Service)
NEW YORK, Oct. 16.-Another re-
markable demonstration in United
States Steel common. stimulating
active demand for the better grade
of dividend rails and industrials.
featured the early trading in the
stock market today. Trading in steel
common in the first hour was on an
unusually large scale. and transac'
tions in blocks as high as $500
shares made their appearance quite
frequently. Wall Street has been
buying steel on the expectation of
enormously increased output and con-
sequent profits in the forthcoming
prosperity era. Selling as high as
l11k, today's performance topped all
previous records since 1919, when
the stock sold up to 1854.
Bethlehem, Crucible and Gulf
States also figured prominently in
the forward march Of stock prices
in this period, Crucible advancing
about 2 points to .S9k and Gulf
States II to 94h. while Bethlehem
"B" was up fractionally at 7Sk.
Rails Rally.
Before the end Of the first hour
speculative attention was turned
over to the rails. and. in one of the
best rallies that has yet char
acterized this section of the market,
railroad shares advanced horizontal
ly to the best position they have
occupied in the current move. Gains
of from to points were made by
New York Central--which again
crossed par; Union Pacific. Great
Northern preferred: Rock Island,
Pennsylvania, Atchison, Southern
railway preferred; New Haven,
Reading. Chesapeake and Ohio, and
Lehigh Valley.
Industrial stocks advanced in good
form, with a few Of the speculative
favorities making new high price
records. National Biscuit at 22O. up
six points more, was the leader
in this group. Brooklyn Rapid
Transit gaintd over two points
at 10 on demand based on the pros
poets Of better earnings and the prob
various transit lines that are now
in financial difficulties.
Oils Drop.
Oil stocks again made their best
showing in the first few minutes,
after which they exhibited a reac-
tionary tendency. Stanard OIL of
New Jersey opened at 2l5k and sold
as high as 219. after which 1t drop
ped precipitately to 211. Mexican
Petroleum made a short demonstra-
ton and sold up nearly three points
to 204 in the first hour, after which
heavy selling orders appeared and 1t
lost about six points, selling down to
1893.
Texas Gulf Sulphur and Freeport,
Texas containued the activity which
featured them last week, Iron Pro-
ducts sold at new high at So; Amer.
lean Ship and Commerce was active
at slightly high prices, Coca Cola
reacted to 80 and then sold up to
81. Call rates prevailed at Az per
cent.
The Washington times., 1922-10-16
Bank Dinner Tonight.

Officials and directors of the In.
ternational Bank will be the guests
at q dinner tonight at the Racquet
Club to meet DIR. J. r. Guthrie and
DR.. H. G. Langworthy, it was an.
nounced today by John Waller, pres
ident.
The Washington times., 1922-10-16
RAIL BOARD To
BEF0UGHT BY
THREE GROUPS
Battle to Strip Commission Of
Powers Looms in
Congress.
BY WILLIAM X. HUTCHINSON.
international News Service.

Congress, when II reconvenes, will
be the battle-ground for three major
Legislative offensives aimed at strip.
ping the Railroad Labor Board Of all
executive powers. It was learned to-
day.
Representatives Of agricultural in.
terests will join with organized labor
and railroad executives in seeking to
deal a deathblow to the boards arbi.
trary powers over rail transporta.
ton. Their cause also will be sup
ported by some Administration lead
ers. as evidenced by Secretary OF Ia
Dor Davis speech Saturday night,
in which he openly advocated the
abolition of the board.
II this offensive meets with oppo'
sition from President Harding, II
was reported a compromise might be
reached to amend the transportation
act in such q way as to leave the
board q mere advisory tribunal.
The agricultural interests, how
ever. will insist its present powers be
greatly limited whether this position
meets with Administration .opposi
ton or not.
Some Want Moro Power.
Friends of the board will make Q
determined effort to give II wider au
thority and to arm It with executive
powers to enforce decisions. This
group. led by Senator Cummins
(Rep) of Iowa, believe the board
lack Of authority to compel obedience
to its decisions has caused whatever
opposition exists.
They will attempt to amend the
transportation act by inserting an
anti-strike clause to be used in com
pelling organized labor to accept the
boards decisions. To give the board
authority to make the roads obey its
decisions. Congress will be asked to
give IL authority to issue fines
against offending carriers or execu
tives.
The position of President Harding
has not been made known yet, though
he undoubtedly will favor some
changes in the existing law to pre-
vent u recurrence Of the rail tie-ups
of the past summer.
Should the President favor Cum
Minis plans, Congress will be the
scene Of q bitter fight this winter
which may threaten the enactment
OF all other legislation.
Want Race Reductions
The farm blocks" led by Sena
tor Capper Rep). Of Kansas. are
determined to end the boards pres
ent activities.
According to Capper. class on.
railroads will earn $3.50. .000, ,00(
clear profit for the last fiv,
months of this year while farmers
are selling their crops at a loss
For the full year, railroad profit.
will total $500, 200, 900 against $615,
00O. 900 last year. Capper contended
He declared these gains were due
to "exhorbitnat freight rates,
which the farmer must pay.
'As the labor board and the &c
c. apparently will act, the rail
roads must make voluntary rate
reductions at once" said Capper
This will help the present situa
ton. but in any event. the Trans
portation Act must be amended
to eliminate it's rate-making clause
Railroad rates must be put under
the control Of State commission.
and the Federal guarantee must b,
eliminated"
The Washington times., 1922-10-16
Local Stocks.
SALES.

e Washington Railway and Electric,
CON-. 10@56.
Washington Railway and Electric,
pfd., 3@77h.
After call-Washington Gas SIS,
$5O0@95h.
Capital Traction 5's. $500QssA.
Potomac Electric Cons. SIS. $1,000
@96A.
Capital Traction. 541O2$.
Mergenthaler Limo. 2Q1SO.
Money on call, sos per cent.
The Washington times., 1922-10-16
HIGH COAL MINE WAGE
ATTRACTING TEACHERS

CHARLESTON, w. Va. Oct. 16.-
High wages paid in the coal mines
are drawing men away from the
teaching profession throughout the
State and the surplus Of teachers
existing early this year has been con-
verted into a shortage, according to
the State Department of Education
The Washington times., 1922-10-16
GERMAN MEMBER OF
CLAIMS BOARD COMING
Furnished by W. b. Hibbs 4

Wilhelm Kiesselbach. German rep
resentative on the mixed commission
which is to adjudicate American and
German war claims. will sail for the
United States on October II. accord.
ing to official advices received here
last nekht.
The Washington times., 1922-10-16
Short Term Securities.
Furnirhed hy Redmond q Co.


Alum. Co. Of Am. rs, 1925 Il04%
Amer. Cotton Oil 6's, 1924 99h 99fs
Amer. Sugar 6's, 1887. .102M l1O3
Amer. Tel. & Tel. 6's, 1924 1O1 Il 101Is
Amer. Tel. & Tel. 6's, 1924l117 lis
Amer. Tob. Co. rs, 1923. l101% 1927
Anaconda Cop. 6's, 1923. 1O1K 1902 4
Anaconda Cop. rs, 1928. 1O3b lO3&
Anglo-Am. OIL TVS, 1925l103b 1O3X
Armour & Co. rs, 1880. .l104N 1O5
Bethlehem Stl rs, 1923. .I106 x IO6x
Can. Pac. 6's, 1924. l00% 1O1 ;.
c. c. c. & st. l.. 6's, 1923. 101h 102
Con. Gas, N. Y. rs, 1922 = 100h 100%
Cop. Ex. "A" SIS, 1924. 102k 1O2E
Cop. Elk. "a" SIS, 1925. 103X l103%
Cudahy PIX. Co. rs, 1923. 101x tl01 u
DUPONT TVS, 1881. 10s X los X
Goody'r T. & r. S's,19s1. 99x 100
Great Nor. rs, 1896. 111k linz
Gulf Oil Corp. rs. 1898. 1Os x I104h
Humble Oil 5h's, 1882. 9sH e9h
kennecott Cop. rs, 1880 104& 104%
Kan. c. Term. 6's, '23 100R l101h
L., Men. & l.. rs. 1881. l02 " 1o2 "
M.St.P. & S.S.M. 6h's. 81 104Ll1o5
Morris & Co. 71s's. 1880. 106k Y II06&
Penna. r. r. TVS, 1880. 109& l1lOB
st. p. Union ID. 5h's, % 101 lO1K
s. Roebuck & COTS, ls23l1Ol Il lO1&
Sou. Bell rs. 1925. 80. IO2 u IosK
Tidewater OIL 6h's. 1891 1903 lO3I
Union T. Co. rs. 1923, ,lO3xlIO3A
U. \. Rub. Co. 7's. 1879. I02h liO2 q
Vacuum OIL 7's, 1895. .llO7 IO7h
West. Il. a Mfg. 7's. 81 lIO7 hlIO7 x
The Washington times., 1922-10-16
Notice of Redemption
TO HOLDERS OF VICTORY NOTES. AMI
OTHERS CONCERNED,

TO HOLDERS OF VICTORY NOTES. AND
OTHERS CONCERNED,
Notice 10 Hereby Given - Follow;
1. Call for Partial Redemption Of tkS
Victory Notes.
All tk% Victory Notes. othsrwis. knovr as
United states Of America Gold Notes Of is7s.
1898, which bear the distinguishing lettsrs A.
b. c. d, Z. or y. prefired 20 their ssrsal
numbers having been designed for the purpdse
tsry Of the Treasury, are called for rsdempu6n
on December Is. 1922. pursuant 30 the prp-
vision for redemption contained In the notes
and In Treasury Department circular No lss
dated April II. 1919. under which the notes
were originally Issued. Interest On all The
tA% Victory Notes thus called for fedemptssn
win cease on said redemption date. December
-. 1921.
Victory Notes ef the en- series hearing IN.
distinguishing isttsr @. II. I. J. X. Or L.
prefixed 30 their serial numbers are not IN any
manner affected by this call for redsmpticn
and viii be due and payable a. 10 principal On
Nay 20. 1879. according 10 their terms.
.. D.t.iied Information % 70 the presen,atS.
and surrender Of tk% Victory Notes fer re-
demption under this call u given In rrsaasy
Department circular No. soc. dated July 20.
1879, copies Of which may he obtsiaed from
the Treasury Department. Division Of Loans y
Currency, wsshinston. ID. C.. OF sw Federal
A. W. MElLaS.
ssostsu q t>s fssss.1.
The Washington times., 1922-10-16

II these common.sense virtues
he generally exercised, things
should steadily, IL somewhat slowly
move toward reasonably good times.
tcopyrieht, 1892. by b. c. Forbss)
Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1922-05-16
TRUSTEES SALE.
OF
VALUABLE HOUSE AND lot

BY virtue of a Deed of Trust. ex-
ecuted by Harry Hyatt and Bessie v.
hyatt, his wife, to F. L. Bushono
Trustee, dated December 20. 1917
and recorded in the Office of the
County Clerk of jefferson County
West Virginia, in Deed Book 112. at
page lS, to secure a certain oblioa-
ton made to the Charles Town and
hanson Building and Loan Associa-
ton by the said Harry Hyatt and
Bessie V. Hyatt, his wife, the under
signed trustee, will sell at public
sale, IN front of the Court House. in
Charles Town, West Virginia, on
SATURDAY. JUNE 3, 1922,
at IL o'clock a. M, the following
valuable house and lot of the said
Harry and Bessie v. Hyatt. situat-
ed In Ransom, West Virginia. and
consisting of Lot 81 in Block 81. as
shown on the map of the lands of
the Charles Town Mining, Manu-
featuring and Improvement Com
pany' said lot being improved by a
FRAME DWELLING HOUSE.
TERMS OF SALE:-One third
cash on day of sale. Balance in two
years, evidenced by note of the
purchaser, bearing interest from
date OF sale, at six per cent, said de-
ferred payments secured by Deed of
Trust on the property sold. The
purchaser, in his discretion, may pay
all in cash.
F. L. BUSHONC,
Trustee.
Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1922-05-16
PUBLIC SALE
OF VALUABLE REAL ESTATE

VI VALUABLE REAL ESTATE.
In pursuance of the order of Will
bur H. Thomas, Referee in Bank
ruptcy, entered on March goth, 1922
in the case of Standard Tie & Tim
Der Company, bankrupt, pending in
the District Court of the United
States for the Northern District of
West Virginia, the undersigned will
offer for sale at Public Auction, on
SATURDAY, APRIL 18TH,
beginning at IL o'clock, A. M, in
front of the Court House in Charles
Town, West Virginia, the following
property, being a part of the timber
lands of the Standard Tie & Timber
Company, on the East side of the
Shenandoah River, in Jefferson
County, as follows:
TRACTS 3, 4 AND S
containing together
4411s ACRES,
more or less, which were conveyed to
the said Standard Tie & Timber
Company by H. C. Getzendanner and
wife by deed of December 8, 1916,
recorded in the Clerks office of said
County in Deed Book ia, page 424.
TERMS OF SALE:-One-third
cash on day of sale, balance in equal
installments in six and twelve
months, evidenced by the purchasers
notes, bearing interest from date,
with security to be approved by the
Trustee, or cash in full at the option
of the purchaser.
FORREST A. BROWN, Trustee.
POSTPONED,
The above sale is postponed until
SATURDAY, MAY II, 1922
at the same hour and place.
FORREST A. BROWN,
Trustee.
Evening star., 1922-10-28
SENATE NOMINEE
Wins BALLOT SUIT
Texas Supreme Court Rules
MayfieId's Name Can
Go on Ticket.

By the Associated Press.
DALLAS. Tex, October 2S.-Earl B.
Mayfleld today was a step farther
along in his tempestuous contest for
q seat in the United States Senate
as a result of the state supreme court
last night deciding his name could
be placed on the November election
ballot as the democratic candidate,
The court held that the district court
injunction against listing him as a
candidate, issued because of alleged
excessive campaign expenditures
could not become effective. inasmuch
as the court issuing 1t was without
proper Jurisdiction and the persons
seeking it were not uaalified to re-
ceive 1t.
Secretary of State Staples an
nounced he would confer with At
torney General Keeling today regard
ing certihcation of Mayf1eld's name
to the various county clerks and
that If Mr.. Keeling so advised would
telegraph Mayfield's name to the
clerks to be placed on the ballots.
against Mayfield have issued no
statement 1t was intimated they
might ask for rehearing. but such
a step was precluded when the su-
preme court ordered the opinion
certified back to the fifth court Of
appeals. which had submitted the
case.
An attempt to obtain another In
junction last night in the eight dis
trict court of Greenville was refused
by Judge Hall.
Evening star., 1922-10-28
BACKSUP DANIELS
IN D|SPUTAT|ON
A. S. Burleson Says Former
President Discussed War
Policies With Cabinet.
By the Associated Press.

AUSTIN. Tex. October 2s.-A. 8.
Burleson, Postmaster General under
President Wilson. in a statement here
today. expressed accord with the
former Secretary Of the Navy Daniels
as to what was said in the Wilson
cabinet meeting when tho policy Of
arming merchant vessels was dis
.. cussed.
MI. Burleson's Statement.
Burleson's statement, in part, fol-
lows:
There was reason. well known
TO many cabinet members, why mat
ters of grave Importance were not
more frequently brought before the
such matters were not brought be-
fore 1t did not mean that tho Presl-
dent did not frankly discuss them
with individual members.
"In the matter of preparedness 1t
was essential that the active Coop
the government be secured before
action. 1t will be recalled tht Con-
gress was not very belligerent dur
ing those early days of the war. To
have attempted action looking to
further preparedness might have
pTOEcu uledEtIo0S.
President's Tour Cited.
II am sure every well informed
person will recall as early as 1915
the President felt constrained to tour
the country with view of rousing
public sentiment to support the Con-
gress in steps looking to additional
Preparedness To this action on the
Presidents part alone we were In
debted for the legislation which en-
abled US to enter the war with the.
certainly of prompt and effective re-
suits"
BurIeson also declared it would
have been impossible for this nation
to have entered the war sooner be-
cause of the steps necessary for dec
Iaration of war. He said evidently
the confusion in Mr.. Lanes mind
as to the time required for such
steps led him to class Burleson as
"paciflst."
Evening star., 1922-10-28
DYING SOLDIER HOST
At FAREWELL DINNER"
Entertains IS of His Buddies
While Facing Death From
tuberculosis.
By the Associated Press.

By the Assocat ted Press.
EAST ORANGE, n. j.. October 2S.-
The story of farewell dinner given
by dying soldier to twenty-five bud
dies became known yesterday.
The soldier is Percy Evans. one of
| the first New Jersey men to enlist in
the world war. and one of the last to
return. The feast was held last
night.
Believing that not many more days
on earth remained for him. Evans.
suffering with tuberculosis after hav-
ing been gassed. rose from his sick
bed, TAXED to the Washington So
cIety clubhouse. and. propped UP on
pillows, presided over the affair.
| "Sing, Boys, But Don't Wreck Place."
"Sing all you want, boys: make all
the noise you want: fight. if you
want. but please do not wreck the
place." he told them.
II won't be with you much longer.
have arranged this little dinner to
show my regard for you. my boyhood
companions and many friends of later
life.
Fellows, / have only few thoughts
to give you. One is the feeling of a
fellow on his back when a friend
visits him.
His Way of Attcstfng Regard.
II have been that way. 1t is surely
wonderful thing. 1 know that the
church bell down the street will soon
toll for me. 1 have always cherished
the association of my friends, and I
wanted in this way to attest my re-
gard for them"
Evans voice broke al this point and
! his friends sat silently by while he
recovered his composure and called
on a trio to sing.