davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-06-20
CITY'S OLDEST BANK
IN CONSOLIDATION
Bank Of New York to Join
N. Y. Life Insurance b Trust
Co. in $4,OOO,0O0 Merger.

Approval Of merger between tho
Bank Of New York ana the New York
Life Insurance and Trust Company was
announced yesterday. The two COM
panies win consolidate under the name
Of the Bank of New York. and Trust
Company. The new institution will have
capital stock of $4.o00,oo0. surplus
and undivided profits of approximately
$4,000, 900 and net deposits in excess Of
$50 900, 900.
The trustees Of the New York Life
Insurance and Trust Company and the
directors OF the Bank of New York neld
meetings yesterday and formally ap-
proved the merger. The two companies
are arranging for special stockholders
meetings to be held in the near future
to obtain ratification Of the plan.
| Edwin C. Merrill, president of the New
York Life Insurance and Trust Com
pany, will be president of the consoli
dated company. while Herbert L. Griggs,
president of the Bank OF New York, will
become chairman of the board Of trus
tees. The board Of the Bank of New
York and Trust Company will consist Of
thirty members, with virtually all the
present trustees and directors OF the
two institutions to be included on the
new board.
For the immediate future the business
of the trust company will be conducted
in its own building at 81 Wall street and
the business Of the Bank Of New York
viii be carried on IN it's own building al
4s Wall street.
The Bank Of New York is the Oldest
bank in New York city. It was organ
lied in 1874 by Alexander Hamilton.
first Secretary Of the Treasury Of the
United States. It was founded as a
State bank, but in 1865. after the close
Of the civil war, 1t was converted into
a national bank.
| The New York Life Insurance and
Trust Company was the first financial
| institution in this country to start busi-
ness with trust company" as part
Of it's title. It was organized under a
special charter granted by tho State
Legislature in 1880.
At present the Bank Of New York
has $2,000,000 of, capital stock out
standing, while that Of the New York
Life Insurance and Trust Company
amounts to $1,000.000.
The terms of the merger provide that
each institution shall declare 100000
stock dividend, the shareholders of the
Bank of New York receiving one and
quarter shares Of stock of the new
company for each share now held--a
total of $2.500,000 the shareholders OF
the New York Life Insurance and Trust
Company receiving one and one-hah
shares of stock of the consolidated COM
pany for each share now held--a total
| Of S1500,000.
The New York herald., 1922-06-20
BEARS UpPERMOST
IN WHEAT MARKET
Final Prices Show Heavy Tone
Winter Grain Harvesting
a Selling Factor.

CHICAGO, June 19.-With harvesting
widespread and weather suspicious. the
selling side had the advantage to-day in
the wheat market. Prices closed heavy.
1asc. to 1%c. net lower, July $1.10 to
s1.10h and September $1.10% to
$1.10k. Corn finished 14c. to &c. down.
oats unchanged to sc. a 15c. higher and
provisions unchanged to 12c up.
Rapid progress in harvest operations
was made evident by reports from a.
great part of the winter crop belt. New
wheat was being received at st. Louis
and threshing was going on in Illinois
Nebraska also sent word that cutting of
wheat had started and would quickly be-
| come general. Big arrivals at Kansas
City. 473 carloads, tended further to
weaken the market here, an inference
being drawn that the carry over of old
wheat in the country was greatly mex
cess of what most traders had supposed.
Numerous little rallies which took
place in the wheat market were all of
transient sort. No aggressive buying
developed and exporters and millers in
particular seemed to be holding back
from any attempt to purchase, except on
hand to mouth basis. Larger world
shipments than during the previous
week had something of a bearish effect,
and so too did decline In sterling ex-
change. Final quotations were at nearly
the lowest level of the day, no stimulus
appearing to follow announcement OF
liberal decrease of the visible supply.
Corn went lower with wheat and as a
result of an unexpected enlargement of
the visible supply. Oats. however. were
lifted a trifle owing to unfavorable crop
reports.
Changes In hog values governed the
provision market
The New York herald., 1922-06-20
TO REVISE EXPRESS RULES.
Railroad Men to- Consider Change
in Uniform Contracts.

The Association of Railway Executives
has called a meeting of Its member roads
to be held in Chicago on June 20 to con-
slider revision of the uniform express
contracts between the Individual rail-
roads and the American Railway Ex-
press Company, which may be terni-
mated by the former on March 1, 1923.
upon six months notice.
= The associations express committee.
headed by w. B. Storey. president Of the
Atchison, Topeka and Santa Fe, will rec
ommend modification ofsthe terms of the
contract which substantially would In
crease the revenues received by the rail-
roads from this source. 1t is estimated
by the committee the railroads in 1921
received s60,000.000 less than the value
of the express transportation they sup
piled The committee also found that
not all the losses were due to the express
contracts. but that some were caused by
non-compensatory rates in some sections
and to lack of coordination between ex-
press handling. less than carload freight
and parcel post, as the three means or
transport ting small articles.
The New York herald., 1922-06-20
HUDSON TUBES INCOME UP.
May Operations show Gain over
Corresponding Month I'm 1921.

The Hudson and Manhattan Railway
Company reports operating income after
taxes for May at S424,975 saved from
gross revenues of so2s,o71. Operating
income represented an increase of $S3,-
952 over May, 1921. while gross income
increased s4e.e20 during the same
period. The baiace after charges was
ss4,o42. an increase OF sso,2O3. as COM
pared with the corresponding month In
1921.
Operating income for the five months
ended with May was s2,0s0,539 after de.
Quoting the taxes from gross revenues OF
s4,61S,SSo. or an increase OF S16,032.
Gross revenue showed an increase of
$275,703. The balance after all charges,
including full interest on cumulative adj
justment income per cent bonds, was
S377,996. an increase OF s30f,o3S.
The New York herald., 1922-06-20
DAWSON CHEMICAL co.
SHOWS DEFICIT IN 1921
$411,938 Loss After Charges,
Report Reveals.

The Dawson Chemical Company's an.
nual report covering 1921 operations
ahows deficit after charges of s411.93s.
which compares with surplus Of
ss22.602 in the preceding year. Gross
trading profit for the year was reduced
from s1.s4s,7s4 to S440.972, and other
income from $167,23s to $4,000. Ex-
penses. depreciation charges and re-
serves were slightly lower than In the
preceding year, but interest and dis
counts were higher.
"The enormous losses shown by other
companies explain why the earnings
statement is not more satisfactory. tine
report says. but We feel confident OF
our future position, when We consider
that we have weathered the storm with.
out these large losses and have our sur
plus account practically intact. with in
ventories and operating costs back to
normal
The New York herald., 1922-06-20
MEXICAN OIL TAX
DISCUSSION TO-DAY
American Concerns Also to
Confer With Huerta on Plan
fer Super Company

The conferences started in Mexico
city several months ago between
Adolpho dc la Huerta. Mexican Finance
Minister. and the chief executives Of
Ave large American oil companies, will
be resumed at ii o'clock this morning at
100 Broadway, it was announced yestcr-
day. The discussions will deal with the
question OF oil export taxes imposed by
the Obregon Government and with the
formation of a so-called super-company
for the exploration of undeveloped oil
, acreage in Mexico.
Under a plan brought forward at the
beginning of the negotiations in Mexico
city the undeveloped acreage in Mexico
of the Standard Oil Company of New
Jersey. Mexican Petroleum Co, Texas
Co.. Sinclair Consolidated Oil Corpora
tion, Atlantic Refining Co.. and several
other corporations would be pooled under
one management for the purposes Of
mutual protection and economy in ex-
ploration and development. The plan in
no sense contemplates the merger OF
the existing production and refining
business of the five companies.
The negotiations which may lead to
the formation of q super-company and to
new terms for the payment of the Mexi-
can tax on export oil will be conducted
by Senior de la Huerta for the Mexican
Government and committee of oil exc
cutives, consisting of Walter c. Teagle.
chairman. Il. l.. Doheny. A. L. Beatty
Harry f. Sinclair and J. w. Van Dyke
At the offices of Mr.. Teagle yesterday
1t was stated that the conference would
last about ten days and that probably no
official statement would be forthcoming
before its close.
The New York herald., 1922-06-20
EauIPMENT ORDERS.

The General American Tank Car Com
pany has received ordef1> for 1850 nfey
ton gondola cars for the Wabash Rail
way 200 forty ton refrigerator cars for
the Missouri, Kansas and Texas, and
80 tank cars for the Florida East Coast
Railway Company.
The New York herald., 1922-06-20
BALTIMORE BANKS MERGED.
Merchants National Takes over
Second Nationally Assets.

Merchants National Takes over
Second Nationals Assets.
Special Dispatch to The NEW York HDnaro.
BALTIMORE, Nd. June 1s.-Negotia-
tions for the taking over of the Second
National Bank by the Merchants Ma
tional Bank were, ratified this afternoon
at meetings of the boards of directors of
the two institutions. The Merchants Ma
tional Bank will take over the business
and building of the Second National on
July /. The total assets of the Second
National are about s6,000,000, while the
Merchants has total resources OF about
s50,000.000, with deposits OF between
37.000.00O and $3S,000,000.
National banks of the merged insti-
tutions in other cities, principally st.
Louis, Richmond and Atlanta, will con-
tinuo as branches
The New York herald., 1922-06-20
FOREIGN MARKETS.

LONDON, June 1o.--Prices moved rather
irregularly on the stock Exchange to-day.
Gilt edge securities were firm and oil shares
inactive. Trading In British 1ndustrials
shows signs OF expansion. Quotations follow
Bar silver, 36tsd. an ounce.
Bar gold, 93s. Sd.
Money per cent. -
Discount rates. Short bills ana three
months bills. "a per cent.
Two and one-half per cent. consols, 56M.
British 3 per cent. war loans. 100.
British AZ per cent war loans. o4m.
he Beers. 11%.
Rand Mines, 2Ek.
The New York herald., 1922-06-20
SETTLES RAIL CLAIM.
I. c. G. Authorizes s3,723.52O Pay
ment to Chicago a Northwestern.

WASHINGTON. June ia payment OF
s3.723,520 20 the Chicago and Northwest
ern Railroad from the Treasury was au-
thorized to-day by the Interstate Com
merce Commission. in complete settle
ment OF accounts between the carrier
and the Government arising out Of the
guaranty against operating losses dur
ing six months OF 1920. The total
amount going to the Northwestern. ac-
cording TO commission figures made pub
lie with the order. is $16.533.b20. all Of
which has been paid with the exception
of the amount authorized to-day.
The New York herald., 1922-06-20
MONEY MARKET.

MONDAY. JUNE TO-
high. ........... 3 Wears nigh ...... o
Low. 2AlYear's low 2M
TINE LOANS.
Mixed collaterais. 60 to 90 days. a
Mixed coilatorals, 20 months.,.. d4k
Industriais. 90 70 30 days............
InGustrials, 4 10 q months. Z 94A
COMMERCIAL PAPER.
Best names. TO Q months. ......... 4h94h
other names, 4 to O months s......... 4h@4h
DISCOUNT RATE. RESERVE BANK.
Commercial paper, s15 days, Az; 90 10 90
isss Il DAYS. M ~: 's IA to % days. ~: banKsrs
acceptances, IS to 30 days, Az
sFixed November 2. Previous rate. o.
fixed September II.
OPEN MARKET RATES.
Call loans and acceptances. ........... 3kG
Discount rates on prime bankers accept
ances eligible for purchase by Federal Re-
Did. Ask. Bid. Ask.
20 days...... s,s z 80 90 days s5 g.,
CLEARING HOUSE STATEMENT.
Clearing House exchanges, sii4.t00. 000i
balances, 49, 900 600: Federal Reserve credit
balances, Ssi 100000.
SILVER MARKET.
Official bar silver In New York, domestic
pOssc., unchanged; foreign, 707tc., off &c. :
London. 36Md.. up Nd; Mexican dollars.
OlHc,. unchanged.
Range OF silver prices this year:
London. So. 37tda. May 22 s2hd.. Feb. e
New York;. 73Ac.. May ~ S2Ac.. Feb. ~
The New York herald., 1922-06-20
FEDERAL SUGAR MEETS.

At the annual meeting OF Federal
Sugar Refining Company, held yesterday
at the conpany's Offices, 81 Wall street.
directors were reelected. and G. A.
Spreckels, president, stated that the
companys financial report would be
ready in about ten days.
The New York herald., 1922-06-20
CHICAGO PRICES.
NEW YORK. PRICEs.

wHEAT-No. red. si.26; No. . hard.
winter; si.27: No. / Manitoba. $i.a2A : No.
mixed. durum. s1.2oIl, c. /. f.. track New
York TO arrive.
CORN-No. yellow and No. white.
7nMc. and No. 2 mixed at 7sAc., C. l. f.,
New York, all rail.
OATs-No 2 white. 45Mc. No. white.
fi014iiac.. No. white, 42mc.: fancy clipped
white. 50Q52tc.; ordinary clipped white.
,4j1hm4Tiac., all elevator.
RyEs-No. 2 Western, o0hc., Z. o. b.. New
BkRLEY-Maiiins. 7sa77c.. c. I. T.. New
HAY--No. !, s2993l; No. 9. s2792o: No.
8, $24d26; shipping, s22ff24 n ton.
The New York herald., 1922-06-20
Hibernia Securities Election.

Glvin p. Howard. formerly treasurer
Of the Hibernia Securities Company, Inc.
has been named first vice-president Of
the company. to succeed the late p. II.
wilkinson. Joseph J. Farrell has been
elected treasurer. to succeed Mr.. Howard.
The New York herald., 1922-06-20
ZINC SURPLUS REDUCED.
Stocks az OF June I Equivalent Il
: Months Supply.

Surplus stocks of zinc were reduced
by 1873 tons during May, according to
figures made public yesterday. This is
an even greater reduction than in April
and brings the surplus stocks as Of Juno
1 down to 40,409 tons, about a months
supply, based on current consumption.
Heavier exports and the building re-
vival, coupled with growing demand
for zinc for galvaniying purposes. are
credited with having been responsible
for the big Improvement in the industry
during the last three months.
The New York herald., 1922-06-20
EXPORTS FROM NEW YORK.

Exports from New York yesterday: Wheat.
bushels. i2p .o33: ryo. bushels. S9.sSs; barley,
bushels, 1909: flour. sacks. 20 ,s34; oat-
meal, sacks, 5000 beef, tierces. 1875: oil
cake pounds, 2.264. 100: bacons, pounds. H.
1876 900; lard. pounds, 3o02, fo0: grease.
pounds. 10000; lubricating oil, gallons, $500.
The New York herald., 1922-06-20
N. J. HIGHWAY BOND BIDS.

Bids will be opened to-day on s5,000.-
600 state OF New Jersey highway AZ
per cent. bonds. maturing in 1862 and
optional in 1897.
The New York herald., 1922-06-20
VIRGINIA PUBLIC UTILITY ISSUE

An issue of $1,200,OO0 of Newport
News and Hampton Railway. Gas and
Electric Comphny's z per cent. cumula-
tive convertible preferred stock is being
offered by John Nickerson, Jr. at 500
and accrued dividends.
The New York herald., 1922-06-20
NEW AGRICULTURAL LOANS.

WASHINGTON, June 19.--Approval OF
fifty-one advances for agricultural an0
live stock purposes aggregating S959,0o0
was announced to-day by the War
Finance Corporation.
The New York herald., 1922-06-20

PARIS, Juno f0.--Prices were firm on the
Boursc to-day. Quotations follow:
The New York herald., 1922-06-20
Due as shown below

An advertisement in the Lost and Found columns of
THE NEW YORK HERALD offers a real possibility Of
covering lost property Telephone advertisements to
Worth 10000.
The Challis messenger. (Challis, Idaho) 1912-current, 1922-08-30
The Spital Sermon.

London is full of quaint customs and
obseryances, for anyone who has th,
enterprise and the industry to hunt
them out. In accordance with ancient
custom, the lord mayor and the alder
men. and the governors of the royal
hospitals have been in state to Christ
church, Newgate street, to hear the
"Spital Sermon" The discourse has
gone on for centuries. 1t originated
in an old custom by which the bishop
of London appointed some learned
cleric to deliver sermon at Paul's
cross on Good Friday. as prelude to
three sermons on the resurrection, to
be given at the pulpit cross in the
Spital on the following Monday, Tues
day and Wednesday by bishop, a
dean. and doctor of divinity, re-
spectively.
The Challis messenger. (Challis, Idaho) 1912-current, 1922-08-30
Girafe's Neck a WEAPON.

The giraffe, which has neither claws
nor sharp teeth, would be greatly at
he mercy of its enemies were it not
;or its long neck. which proves an
excellent weapon of defense. This
.nng and pliable member terminates in
very solid head and it uses the Upper
part of itself like has swing
lg its neck round and brlnE.as its
head down at each swing with a
thump on its antagonist. When Two
giraffes meet in combat they use pre-
cfsely the same tactics. The two ami
mails. planting themselves as firmly
us possible, and stretching out all four
legs to the utmost, stand opposite to
each other and hammer away with
their heads until one or the other has
had enough.
The Challis messenger. (Challis, Idaho) 1912-current, 1922-08-30
The CapricioLs Censor.

Men are not tit to be recording
angels Of books or of sunything else
We find 1t hard enough to look after
ourselves without looking after other
people; and the censor himself needs
q censor just as much as the authors
who are his victims. Who is to insure
that his sense of propriety is just or
that his political or religious opinions
are right? The answer is, No one; and
so, finally. his authority is and must
be on a basis of nothing. He is ap-
pointed, he has an office, he has power;
but he does what he chooses, usually
without knowing why. In practice
there is nothing more capricious than
censorship and so nothing more futile.
London Times.
The Challis messenger. (Challis, Idaho) 1912-current, 1922-08-30
Office Phone Her Mirror.

The tired business girl simply must
have her vanity box in proximity and
the hand mirror especially must ma
terialize when she wishes it to. 1t ir-
ritates the busy stenographer to have
to rummage around the desk for the
mirror. A stenographer in a small
downtown law office does away with
much waste motion by utilizing a
piece of the office furniture. One day
while looking for the elusive mirror
the phone bell rang, and being con-
scientious she decided in favor of her
DUTY. She discoH cred that the nickel
plated rim about the mouthpiece Of
the phone served the purpose Of a
looking glass. She no longer worries
about her mirror.--Chicago Journal
The Challis messenger. (Challis, Idaho) 1912-current, 1922-08-30
ANNOUNCEMENT

wish to let the voters of the, Coun
ty know that was nominated as a
candidate for the office Of Assessor
on the Republican ticket. / am aware
of the fact that candidates frequently
make prediction promises that they
find are hard to keep, and the voter
generally, does not put a great amount
of confidence in such promises.
Nevertheless, want the people OF
Custer County to know that if / am e
lected to the office of Assessor l in
tend to and will do everything l posi-
bly, can to lower the expenses OF the
office SO far as efficient service will
permit / ask your support in the
general election and thank all those
who supported me at the primary.
Respectfully yours,
JOHN w. STEPHENS
Republican Candidate for Assessor
The Challis messenger. (Challis, Idaho) 1912-current, 1922-08-30
NOTICE OF SHERIFFs SALE

BY Virtue Of an execution In my
hands, issued out Of the District Court
of the Sixth Judicial District OF the
State Of Idaho, in and for the County
of Custer in the suit of William Mil.
lick against frankie Maelzer and
frankie Maelzer, Administrative OF
the Estate Of Val. Maelzer, deceased.
duly attested the 18th day of August,
A. D. 1922, l have levied upon all the
right. title and interest Of the said
frankie Maelzer and frankie Maelzer.
Administrative of the Estate of Val
Maelzer. deceased. in and to the fol-
lowing described property. situated in
Custer County, Idaho, viz:
The southwest quarter of the south
east quarter. the south half of the
southwest quarter of Section One: the
north half of the northeast quarter,
the north half of the northwest quar-
ter. the southeast quarter Of the north
west quarter of Section u, and the
East half of the southeast quarter, the
southwest quarter of the southwest
quarter of Section "a and the north
west quarter of the northwest quarter
of Section 25 in Township IA north.
of Range 81 E. B. NJ, together with
all water rights used upon or in con-
nection with said premises. together
with the tenements, Entertainments and
arpurtenances thereunto belonging or
in any wise appertaining.
Notice is Hereby given, That on
Monday. the 11th., day of September,
4 L. 1922 at 2 o'clock P. NJ, of said
day at the front door of the Court
House, Challis, Custer County, Idaho,
I will sell all the right, title and inter
est of the said frankie Maelzer and
Frankie Maelzer. Administrative of the
Estate Of Val. Maelzer. deceased, IN
and to the said above described prop
erty. at public auction. to the highest
bidder for cash in lawful money of the
Unitel States, to satisfy said execu
ton and all costs.
Given under my hand, this 14th., day
OF August, A. D. 1922.
f. ". CUMMINS, Sheriff.
Pub. dates Aug. 16-2S-30 Sept 6. 1922
The Challis messenger. (Challis, Idaho) 1912-current, 1922-08-30
Independent District
SCHOOL MEETING AND
ELECTION

Notice is hereby given that on Tues
day, the fifth day of Setempber. 1922,
the Annual School Meeting anil Elec-
ton ir and for School District No. 1,
of Custer County. Idaho, will be held
at the School House in said District.
said School House, a meeting will be
held to select a judge and a clerk of
election, and TO transact such other
business pertaining to the school in
terests as may come before the meet
ing.
The polls will open one hour later,
to-wit, at two O'Clock p. NJ. and re-
main open until 5 o'clock p NJ. of
said day.
Two School Trustees will be elected
for three years in place of Mr.. Dav'i
Laing and Mr.. Fl. H. Hartman, whose
terms of office will then expire.
NOTE-"None but actua resident
free holders and heads of families of
said District shall vote at such spac-
ial tax election"
MILTON A. BROWN.
Clerk Of Independent School District
No. i
The Challis messenger. (Challis, Idaho) 1912-current, 1922-08-30
NOTICE FOR PUBLICATION

Department of the Interior, U. s.
Land Office at HALEY, Idaho, July
18th, 1922.
Notice is hereby given that Joseph
c. McGown, of Challis, Idaho. who, on
August 4, 1919, made Forest Home
stead Entry, No. 025403, for a tract
of $3.50 acres situated in the Challis
National Forest in Sec. 7, nnsurveyed
T 16 NJ, r. 10 E. B. M. and Sec IS,
unsurveyed T. 16 N. R. 19 E. B. NJ,
embraced in H. E. S. No. SOL, List
1851. more particularly described by
metes and bounds as follows:
Beginning at Corner No. 1, from
whence U. s. L. NJ. No. sol bears N.
10 degrees 10 minutes % seconds W.
1914 chs; thence S. 80 degrees 10
minutes ". 5306 chains to Corner
No. q; thence s. Z degrees 81 minutes
E. 1915 chains to Corner No. 8: thence
S. Sc degrees 26 minutes W. liza chs
to Corner No. 4; thence n II degrees
OF minutes W. 34.74 chains to Cor.
ner No. S; thence N II degrees 19
minutes E. 1888 chains to Corner No
6; thence N. II degrees II minutes E
27.6S chains to Corner No. T. thence
S. Sc degrees SO minutes E. 1873 chs
to Corner No. l, the place of begin
ming, has filed notice of intention to
make final three year Proof, to es
tablish claim to the land above de
scribed, before Earl ]. Michael Clerk
Of the District Court, at Challis, Idaho
on the 9th day of September, 1922
Claimant names witnesses:
L. NJ. Cameron. of Challis. Idaho:
Mrs. L. NJ. Cameron. of Challts, Idaho:
Arthur Loungsberry, of Forney. Ida
no, George Pettigrew of Challis, Ida.
no. MAY L. ANGEL,
Register.
1st pub. July 26th last Sept. 9Th, '22