davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-05-26
Stock Prices
A Shade Lower
In Quiet Trade
Except for the Spccialtics.
Market Is Dull; No
Heavier 5 cllins Of
Rails Than Indusirials

+ Speculation was perceptibly quieter
IN the stock market yesterday. As on
the previous day, The volume of trans
actions contracted slightly Except for
speciaities there was dullncss in the
market, with a tendency toward shade
lower prices on the average.
Although the 10 per cent freight rate
cut was once more foremost in discus
sions Of the Street, there was no
heavier selling Of rails than indus
trials There is a difference Of opin-
jon as to the effects OF the reduction.
Sc. 1t should be patent tha. the &C
ton OF the Interstate Commerce Com
mission is another significant step to-
ward normalcy in business. When an
equilibrium is established among prices
for commodities and services business
men can move forward with more CON
tidence than when disparities and in
equities prevail.
Despite advices from Washington.
I the speculative community was little
, inclined to believe that Investigations
at the capital would interfere with the
consummation Of the Lackawanna-
Bethlehem merger
In the investment market Liberty
bonds were nspicuously firm. as IN
! stitutional buying became more pro
, nounced. The fourth AIS reached a
new high record, 100.02, and first 31as
equaled their previous high mark for
the year l0006. Meantime, the rest
of the bond market, suffering from
indigestion, was again irregular. with
moderately lower trend
Cotton prices were irregular and
little changed. After the marked
slump on Wednesday wheat prices
closed unsettled. suffering losses Of y
to cents a bushcl.
Sterling exchange was steady. Con
tlnental banks were closed on account
OF the Ascension Day holiday.
New-York tribune., 1922-05-26
In Wall Street
Fourth Liberty 4Ms at Record High

Liberty bonds again attracted IN
usual attention yesterday because Of
their strength and activity. This time
the Fourth 4Ms were conspicuous by
attaining new high level since the1r
issuance Of 1OO.02, their best previous
price being par, first reached on April
IL. More than haIf Of the total trans
actions in Liberty bonds occurred in
this issue, activity otherwise being
largely ccntered in the First 81zs,
which duplicated their 1922 peak Of
10O.Oe. One other active issue. the
First 4hs, was dealt in at par, while
the Third ~ q came within fraction
of reaching this price. Corporations
and banks were reported 10 be buy
ing on large scale, apparently divert
ing surplus funds into ths market.
The prevalence Of easy money was
also factor contributing 10 the af-
vance Dealers emphasized the signif-
cance of the fact that so far as could
be learned no purchases were made
during the day for the governments s
sinking funds.
New-York tribune., 1922-05-26
MOney and Credit

Gail money ruled easier yesterday.
Shortly after The opening the rate,
which had been established at 4 per
cent for renewals. dropped to 8 - per
cent and funds were in plentiful supply
at this figure until the close. Time
money was unchanged as to quotations
ana business in this department was of
% ,-11,,r,o
New-York tribune., 1922-05-26
What's Behind Active Stocks ?
3-United States Steal

The United States Steel Cornor.t;or
W was formed in 1901 through consolida-
Iloh OF eleven companies. Since that
oate numerous steel iron mining. coal
COKE and railroad properties have been
AIDED to the combination. Among the
more important subsidiaries are Car
negie Steel Company, Indiana Steei
company, American Steel and Wire
company, National Tube Company and
reoeral Steel Company The CORPORA
tlon has outstanding $3.50. .2Sl.10O Of
preferred stock, $5OS,3O2,50O common
ana funded debt Of S549, ,2eo,7ss, in
cludlng subsidiary company bonds On
January l, 1922, net tangible assets an.
plcable to the common argrepated
$l'Sls 1854 900, or $29.46 a share. Net
pronts last year were equal to s214 a
snare on the common, compared with
$1o.S2 in 1920, $48.46 in 1916 and an
annual average Of s16.S7 for the ner;od
lsll-'2o. Earnings for the stock from
!Sol to and including 1927 totaled
$1,sS7 ,501 900, Of which slO52 57O o00
was paid in dividends. The present divi.
dend rate is per cent. The cornora-
tion has steel ingot capacity Of % :
100000 tons annually. Plants are now
operating at about 20 per cent Of
capacity. Untitled orders on Nav 40.
gregated 6,O96,917 tons, compared win
4.l41, 900 on March L, with 5.S45 600 on
May l, 1921, and with 11.l1s0oo on
august 1920. According to the most
recent statement there were loo S1o
holders OF common stock and s162l
holders OF preferred. Range of stock
since l912: High. 1855, in 1916: low
90 IN 1910; yesterdays close, 1OO1a.
New-York tribune., 1922-05-26
PhillirS Petroleum

Once Phillips Petroleum got through
it's previous high yesterday it advanced
to still higher levels with apparent
ease and closed at it's best price Of the
day at 521a This was better than
Wednesday's last sale by 3&s points
Recent buying of the stock is believed
TO have been based on the company -
improved earning power. Earning
are reported to be running at the rate
Of nearly $40 share, although divi-
dends being paid are only 81 share
In view Of the excess Of revenues over
dividend requirements it is believed
that stockholders are in line for a
larger distribution
New-York tribune., 1922-05-26
Canadian Bond Sales Deferred

Bids on two Canadian issues opened
during the last three days have not
proved satisfactory and the sales Of
these bonds have been deferred pend
ing more favorable market. Dillon,
Read g. Co. were high bidders yes
tcrday on the $3.000.00O Province Of
Manitoba issue at 96.41, with a. z.
Arnes g. Co. second at 9s03. British
Columbia had earlier determined to
postpone the disposal Of $1,000 900
Issue. It IL not believed that this
financing will revert TO the Dominion
market as prices obtainable there are
hardly as high as here
New-York tribune., 1922-05-26
The Freight Rate Reduction

The 10 per cent cut in freight rates
announced by the Interstate Commerce
Commission will effect reduction in
the cost Of producing steel of at least
S1.26 a ton, according to estimates in
the financial district yesterday. The
saving. it was pointed out, will vary
with different localities and in respect
to different products. In some dis
tricts the assembly costs of pig iron
are around S14 a ton, so that in those
districts the saving on pig iron alone
would be $1.40 a ton. Mining COM
pany officials were also elated over The
prospective lowering of freights on
copper. zinc. and lead Most of the
mining Is done in the West, while 3
good part OF the refining is done in the
East The saving, it was estimated.
will run into substantial figures.
New-York tribune., 1922-05-26
Yester- Yea

Bank C!earings = Bank clearjngs at
New York yesterday were: Exchanges.
$724'o0oooo; balances, s73 400, 600.
Silver - London, 36'sd; New York.
domestic bar, 995sc; foreign, 72Ac;
Mexican dollars. 55A.c.
New-York tribune., 1922-05-26
The Steel Merger

Ii plans for the much discussed in
dependent steel merger are consum-
mated it is believed that Midvale VIII
20 in at s45 q share and Republic al
$3.50. Midvale at yesterdays closing
quotation was 3A points under the
reported merger figure, while Repub-
lie was more than points lower. II
was pointed out in market circles that
the difference between the reported
merger prices Of Midvale and Repub-
lie and the market quotations may be
discounting the price at which the
shares Of the consolidated company
would be introduced to the public. The
independent steel companies have not
been operating at a profit for the last
eighteen months and it is not believed
likely that the new stock would pay
more than 5 per cent az the start.
New-York tribune., 1922-05-26
South American Financing

British bankers. who before the war
handled most of the external loans
foatcd by South American countries,
are beginning to evidence keener in
terest in proposed financing by these
governments. Local investment bank
ers who have been negotiating for vari-
Gus South American issues are rather
disturbed by reports that the prospect
i've borrowers are turning to London
in the hope Of obtaining more advan-
tageous terms. Argentina and Peru,
specifically, are among the countries
there. The major Argentine funding
operation, which is likely to involve
upwards Of s100 100000 and which has
been held up by political differences,
may we'll be divided. it Is thought, be-
tween the New York and London mar
kets
New-York tribune., 1922-05-26
Atlantic Fruit Reorganization

The plan Of reorganization of the
Atlantic Fruit Company is expected 70
be announced shortly. The protective
committee organized about four
months ago to look after the bond
holders interests has about completes
its work and the next step is the pre-
sentatlon Of the readjustment scheme
to the debenture holders. The com
pany defaulted the payment of inter
est est due December l, last, on $4,000
ooo debenture per cent bonds. 1t is
reported that holders may be asked
to take income bonds in their place
holders Of the s6,ooo,0oO s per cent
notes may be asked to accept nav
STOCK. The company's adjourned an
nual meeting is scheduled for Nav n
New-York tribune., 1922-05-26
Financial Items

Thu New York stoc9 Exchange mem
bership OF F. l. ss!iesberg, deceased. has
Consideration being s99, 600 The seat OF
william r. Hyde has been sold TO Gilber;
Elliott for s9s.o00, and that of Walter c.
Iouchheim TO Waiter c. Louchhem ir
the consideration being nominal The las.
preceding sale ss7 1000
The Empire Trust Company has been
appointed transfer agent OF the preferred
and common stock OF the American fuel
Oh ara Transportation Company Inc
Edward 3. Rooinetts has been elected
vice president OF Stroud & Co. Inc
New-York tribune., 1922-05-26
f'he Dollar i'm FOREIGN Exchanre

torelgn exchange rates held general
~ steady in quiet trading yesterday.
Sterling sold slightly higher at one
time but at the close was unchanged
1T $40 lie for cables on London.
French francs ruled higher.
New-York tribune., 1922-05-26
Northern Pacific Conversions

The call for redemption of the North
ern Pacific Great Northern 612 per
cent bonds has not accelerated the
process of converting these securities
into Northern Pacific IS. This is ex-
planned by the bankers as due to the
fact that the conversion privilege
holds good until July II and, mean
while, holders are not likely to give up
612 for per cent return.
Evening journal., 1922-06-29
EARLY RETURNS GIVE
SEN. McCUMBER LEAD

FARGO. y. D.. June 20 Omitted
Press. )-Senator Porter J. McCum-
ber piled up a heavy lead in the
early vote tabulated in the North
Dakota primary over Lynn J. Fra
zier, Non Partisan. for the Repub-
lican senatorial nomination.
In 1877 precincts out of 229 in the
State the vote stood
McCumber, 1895.
Frazier, s.742; a lead for McCum-
Der of 7.153.
Frazler's main strength rests with
the rural districts. not yet heard
from and McCumber will have to
get a much heavier vote in the
cities than has so far been reported
If he is TO win. Non Partisans said.
The Fargo Courier News, Non Par
tisan organ. claimed nomination or
Frazier by 10000 and asserted the
state ticket of Non Partisans would
win by 10000.
The Forum. spokesman of the in
dependent voters. made no predic-
ton.
Evening journal., 1922-06-29
MD. REPUBLICANS
TO OPPOSE FRANCE

BRADDoCR HEIGHTS. Nd, June
sO-Concrete action toward the
blocking OF the nomination OF JOS
eph I. France for the United states
Senate from Maryland by the Repub-
llcan party was taken at a confer
ence yesterday OF Republican party
men from all parts Of Western Mary
land and from Baltimore City. Be
sides adopting resolutions virtually
reading the Senator out OF the Re
publican party, the conference agree
TO the naming OF a committee TO Sc
iect candidate TO oppose him in the
primary.
The resolutions condemn Senator
France for his opposition to the Pa
cific Treaty, his trip TO Russia 10 aid
the Soviet Government. his threat TO
participate in the formation of a
new party. his attempts TO have re-
leased prisoners OF war convicted OF
treason and his avowed intention OF
spending 100000 TO obtain a re-
nomination.
The resolutions call on him TO
withdraw in the interest OF the good
name of the Republican party.
Evening journal., 1922-06-29
THIS LITIGATION
OVER COAL SUPPLY

In the case OF Benjamin II. Read,
trading as Lynch and Read. against
the Tidewater Coal Exchange. Inc.
a dissolved corporation Of the State
of Delaware. Chancellor Wolcott has
issued "a rule 10 show cause, re-
turnable July 7. to all members of
the Tidewater Coal Exchange. Inc.
and to all other persons having an
interest therein. requiring them to
show cause why the receivers of
the dissolved corporation should
notpermit and actively bring about
settlements of debit and credit tom
nages of coal in the pools of the
Exchange of members and others.
as shown on the books OF the EX-
change. between themselves, so far
as the same may be accomplished.
and when such settlements are
made. to execute and deliver to
such members and others thus set
tling their individual debit and
credit tonnage balances such re-
leases and acquittances as may be
necessary to close their accounts.
or establish the condition thereof as
affected by such settlements.
Evening journal., 1922-06-29
WON'T ADMIT ORDER
TO STRIKE RECEIVED

Leaders OF the railway shop crafts
in Wilmington declined today to say
whether they had yet received order
from b. NJ. Jewell. at Chicago. to
strike on Saturday.
when the noon whistle blows on
Saturday you will know" was the
cryptic way in which one leader put
it.
According 10 best information OBJ
tainable. 1.1OO out Of the 1900 men
employed at the Todd's Cut shops
OF the Pennsylvania railroad are ex-
pected TO quit in event of a strike
order.
The men here are being advised.
and. in event of a strike. will be di-
rected. by what is known as the Fed
Grated Shop Crafts Advisory Board,
of which the officers are as follows:
President. Edward r. Logan; vice.
president. Harry B. Thomas, secre-
tary-treasurer. j. W. c. Mills.
The board Is compoed of repre-
sentatives from each OF the six shop
crafts. boilermakers. blacksmiths'
machinists. electrical workers, car
men, sheet metal workers. All
these crafts include helpers in their
membership rolls The organizations
also are affiliated WITH the Railway
Employees Department OF the Amer
lean Federation OF Labor. of which
Mr.. Jewel Is president. and are a
part Of the Pennsylvania System
Federation, No. 90. which consists Of
all ship craft employees on the en-
tire Pennsylvania Railroad System.
All workers al the local plant OF
the Pullman Company. whether on
furlough or not. have been called TO
attend a mass meeting tonight
in Irish-American Hall. at 7.30
O'Clock. under the auspices of Pull
man SysteR. No. 1872. OF the Rail
way Employees Department of the
American Federation OF Labor
Important messages are TO be read
from the national organization.
Charles G.. Wilcox. general represen-
tative of the machinists in the Pull
man Company's employ throughout
the United states, Will read the mes
sages.
In connection with the employ
ment situation at the local Pullman
plant. IL has been learned that~the
shutdown is only a temporary one
and that the prospects are the plant
will be able 10 resume operations on
or before July IS.
Evening journal., 1922-06-29
KNOW M0NARCHISTS
WHO KILLED RATHENAU

BERLIN, June 20 Omitted Press).
Three men. prominent in former
monarchist uprisings. have been
named by police as the assassins Of
Walter Rathenau. foreign minister
Ernst Tecnow. Hermann Fischer
and Fritz Mauer. all former mem
Sers OF the Erhardt brigade were
betrayed 70 the authorities by a
man who alleged he was one OF the
conspirators and that the three
named were ydeputed TO carry out
the assas assination.
They are being sought throughout
Germany.
A Central News dispatch 70 Lon
don at noon today declared one Of
the murderers OF Rathenau had been
arrested.
The men upon whom the police
are centering their search were
Identified with the embryonic kapp
"putscn" and are known under sew
eral aliases as ruthless criminals.
Evening journal., 1922-06-29
FOR 81
GARDENS HOMES
CONTINUED from First Page.O

(Continued from First Page)
sion OF their homes. Word to this
effect has been received at Mr..
Burchenars Office from a. NJ. Green
field. Philadelphia, who took over
the entire Gardens from the Ship
ping Board.
Mr. Burchenal pointed out that
tenants of most of the properties
at the Gardens have been paying
rents in advance. so that when they
move out there is more of a refund
than a charge. He also said that
while he had heard of one tenant at
the Gardens who was six months be-
hind in his rents, he understood that
the purchaser of the property would
be required by the Greenfield firm
to assume only one months share
OF the obligation.
One thing Mr.. Burchenal brought
out was that every effort was be-
ing made 10 place as much Of
the mortgage money through Will
mington banks and trust companies
as possible. Out OF a total of prob
ably $1,000, 900 in mortgage money
which will be loaned. Mr.. Burchenal
estimated that all but $25O,OOO
would be placed here.
That's a big thing for Whining
ton" he said. "and a fact which
should not be lost sight Of"
While he deprecated the delay in
transferring the homes. Mr. Burch-
email declared that considering that
the Shipping Board had not made
the transfer of the entire property
TO Greenfield until June 3 last. and
the blanket deed contained some
thing like forty pages and the blan-
ket mortgage for $3.50, 900 put up by
Greenfield very nearly as many
pages. the work of transfer had
proceeded as we'll as could be ex-
pected.
In cases where a second mortgage
was required. he said. the papers
required no fewer than thirteen
separate readings for yerihcation.
IF we had only had the descrip-
tions of the properties in advance, d"
he said. the making out Of the
deeds would be a comparatively
simple matter; but we did not. and
row we are obliged 10 make them
out ourselves. In view of the
irregularity OF the lots at the Car
dens this Is exceptionally slow and
difficult work"
Mr.. Burchenal further said he
could see no reason why banks or
trust companies should hesitate 10
lend money on mortgages at the
Gardens because of the blanket
mortgage of $3.50. 900 given by
Greenfield, because release could
be had and recorded with the deed
IN much the same manner as re-
leases are obtained and filed for
plots bought from railroads Of land
development companies. There IS
hardly a land development company
which does not carry a blanket
mortgage" he added, yet there Is
no difficulty in providing individual
mortgages for purchasers"
Evening journal., 1922-06-29
TONER CASE TO
BE INVESTIGATED

Pending investigation. the case Of
Peter F. Toner. 100 Davis street.
charged with breach of the peace
toward his wife. was continued un-
I'll July 20 by Judge Hastings in
Municipal Court this morning. Toner
is alleged 10 have beat and tried 10
choke his wife. and 10 have put her
out OF the house with practically no
clothing on. She Is said to have had
TO borrow clothing in order TO go TO
the police station 10 prefer charges
against her husband.
Toner said that IL Is a summer
complaint" with his wife to have
him before the court every summer.
He maintained that she has threat
ened TO poison him and cut his
throat and TO have declared that she
would kill their three children.
Evening journal., 1922-06-29
MANY TO ATTEND
W. C. T. U. ENCAMPMENT

A large delegation OF the mer-
bers OF the Young Peoples branches
OF the w c t. u. are planning to go
to Lewes tomorrow TO attend the first
annual encampment OF the Fedora
ton OF the Y. p. branches. The
encampment will open tomorrow af-
ternoon and will continue until next
Monday. The sessions will be held
in the Beebe Hotel. The delegates
will leave on the s.19 train. Penn
sylvania Railroad tomorrow morn
ing.
Those who will attend from this
city are; Mrs. Mary b. Donnell.
County W. c. T. u. president; Mrs.
Katie Butler Dockety county treas
urer and state recording secretary:
Mrs. Bertha McCaulley Foster.
county Y. p. f. secretary; Mrs.
Katherine Croes Watson, treasurer
of Y. p. b. Federation; Miss Lille
b. williams. president Y. p. B. Fed
Grafton.
Delegates: Miss Edith valleau.
Anna Meredith. Wesley y. p. b.;
Miss Martha williams. Marshallton
Y. p. B.: Miss Anna Farra, Miss
Rebecca Kite and Miss Emma Huey.
Honecker Y. p. B.; Miss Ethel Nor
ris and Oscar Gael. Eastlake; Miss
Edna Connor and Ralph Heinold,
Blackbird: Mrs. Clara NJ. Bicking,
Miss Annie Sayers and Mrs. McSpar-
rem. wilmington Y. p. B.; Miss Mar
garet and Master Charles Bicking.
Wilmington L. T. l.; Miss Ruth Zim-
norman, New Castle Y. p. B.; Mrs.
Richard McMullen. Thatcher W. c.
T. u.
Evening journal., 1922-06-29
FISHERIES co. TO
TURN BACK LAND

Chancellor wolcott in the Court
OF Chancery has given an opinion
In the case OF the Town Commis-
sioners OF Lewes. Del. against the
Breakwater Fisheries Company
whereby the Breakwater Company
Is directed 20 return to the town or
Lewes control OF 1000 feet OF beach
front. The suit. a bill in equity
was brought by the Town Commis-
sloners against the Breakwater Fish
cries Company and Thomas II. Hayes
and Raymond J Anderton.
7, was alleged by the Town Com
rnlssioners that they leased 1000 feet
OF beach front 10 the Delaware Fish
oil Company. in September, 1912. al
a rental OF S12o0 a year This lease
was for period OF twenty-five years.
The Delaware Company disposed OF
its business and the lease 20 the
Breakwater Fisheries Cmpany in
1917. and the new owners entered
into a lease with the Town Com
n1issioners at that time. The plain
tiffs contended that this new lease
proviced for the leasing OF only that
land occupied by the plant OF the
company and the rental was flxed at
$500 a year while the Breakwater
Company contended It had taken
over the entire tract.
The Chancellor in his opinion
ordered that the Fisheries Com
pany execute new lease with the
Town Commissioners TO exclude
Breakwater. the lands leased TO the
Delaware Fish oil Company and 70
include only the land on which the
fisheries plant IS located.
The costs OF the case were assessed
against the defendant company.
Caleb S. Layton was attorney for the
Commissioners and James NJ. Tun-
nell was counsel for the company.
Evening journal., 1922-06-29
2 YEARS FOR HATES,
HE TAKES APPEAL

Enoch Kates. alleged 10 have mis-
conducted himself toward two small
girls, one aged 8 and the other aged
Z, in the neighborhood OF twenty
second and Pine streets. was sem
fenced TO two years and six months
Imprisonment by Judge Lynn, in
Municipal Court this morning.
James Salisbury. attorney for the
defendant. gave notice OF an appeal
and bail was fixed al $4,000.
Hates denied that he was the man
who accosted the children and at
tempted TO prove an alibl.
In imposing sentence. Judge Hast
ings remarked that the streets and
parks should be safe for young chill
dren.
Evening journal., 1922-06-29
QUILT SOLD AT
PICNIC FOR $131.S2

Special 10 The Evening Journal.
GEORGETOWN, June 29.-As a
result of being kicked in the mouth
by a horse. Arthur Hill. a small boy,
OF Overlook. had two teeth knock
ed out and a cash inicted which re-
quired four stitches 10 close.
At a picnic at Hickory Hin. near
Millsboro. a quilt was sold for
S131.S2. Each square contained
the names OF contributors and Miss
Dorothy Donaway headed the list
by collecting $17 from the ones
whose names she placed in her
square.
Mrs. Clara r. Short and sister,
Mrs. Josephine Faucet. have rented
a cottage at Rehoboth and will oc-
cupy IL during July.
Evening journal., 1922-06-29
threw KIDS into.
Swimming POOL.
continued from Flrst Pagel

Continued from First Pager
terry charge and dismissed Lee on
both charges. The disorderly conduct
charge against Lee was dropped.
Paul. who Is IA years OF age. is
awaiting trial in the Juvenile Court.
Clarence said he struck Haggerty
in self defense Haggerty admitted
that he first struck Clarence. but said
he had to do II in order to save him
self from being knocked overheard
by the defendant. o
"The only way 10 control them at
the pool is to get a shotgun or have
the patrol wagon outside" declared
Haggerty.
Judge Hastings said the court will
do what IS necessary TO help preserve
order at the swimming pool.