davidaulloa/AmericanStories huggingface dataset:
The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1922-02-15

railroad and industrial stocks is one
OF the most disheartening on record
For years the people have been dclud-
cd with the notion that if they buy
such stocks, they can rest in idleness,
while the real workers of the land
will toll and make them rich. But a
new era has dawncd in the manage
ment of public corporations, bearing
with it the promise of cure for this
dcluson.
Twenty years ago, a small railroad,
little more than 1000 miles in extent,
travcrsed territory in the South
west, from Kansas City and st. Louis
on the north, down to Galveston. 1t
carried the wheat, lumber, oil and cot
ton Of the West down to the Gulf of
Mexico. And since it travelled through
three large states, it was named the
Missouri, Kansas & Texas Railroad
more popularity and for the sake of
abbrcviation, known as the "Katy.'
In Missouri its lines were fed by
Hannibal, st. Louis, Kansas City; and
in Kansas it touched Junction City
and Parsons. 1t cut south through
Oklahoma into the great state of
Texas, on its way touching Dcnison
Dallas, Waco, Houston and Galveston
The small inc had grown up in sue
cessive years, with varying fortunes
from Il 300-milc fragment, known in
1872 as the Southern Branch of the
Union Pacific Railway. 1t had wax
cd, until, as | say, some 20 years ago
1t was line of 2,197 miles in extent
owned by the two leading members
of the Rockefeller family, who had
gained ownership five years before
At this period it's gross earnings ag-
gregatcd $12,000,000, and after pay
ment of the expenses of operation
there was left $4,000,000 to devote to
interest and sinking fund charges
leaving as a rule surplus over ali
charges and expenses of some $780,
600.
For 10 years the railway was nurs-
| ed quietly into larger existence, the
| surplus funds being placed back into
the property, so that few new bond
! issues were needed for financing it's
requirements. The company became
entirely free from floating debt. Not
once in all it's years had it incurred
deficit. Indeed, it's surplus in 1903
amounted to $l,009,916; in 1905 to
$l,267 100; in 1907 it reached the
large figure of $3,682,311.
The Katy by this time had sent its
arms out in all directions. 1t had
reached Joplin, Missouri; Shreveport
in Louisiana, and had extended to
Wichita Falls and San Antonio,
Texas, on the West. 1t had gained a
rail length of more than 5000 miles
| and it's gross earnings had doubled.
In other words, the railway was de-
yeloping along natural, healthy lines
Wall Street, that narrow, caverous
thoroughfare, thousands of miles
away, where men gambled on pros
poets and the work Of others, was
scarcely a, factor in it's entity. The
Katy was serving it's territory, and
growing with it's growth.
But events important to the small
lines destiny were. impending now
The Rockefellers had disposed Of their
interests and retired from the board.
Hiding Debts to Fool Investors
There was in Wall Street. at this
time a railway financier, who, be-
The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1922-02-15

cause of his cold-bloodcd characteris
tics and lack of scruples, was known
as "'Thc Man Of Ice.' Hc was then
owner of the Minneapolis & St. Louis
and Iowa Central systems, and for
many years he had been identified
with Western railway lines, which he
and his associates had acquired, not
TOR the purpose of serving the pub
lice, but to make money for them
selves.
The covetous eyes Of this fnancicr
became .ccntered upon the Katy. He
observed its steady growth and it's
prosperity: Now that the interests
that had built it up had left the
board, he saw an opportunity for a
profitable "deal." Such deals of his
and his partners had often been fin
anced by the head of large Jewish
private banking house in New York
and he interested this banker in the
project.
In 1909 came the announcement
that stock control Of the Katy had
been obtained by financial group,
headed by The Man of Ice and his
Jewish associate. The Katy was now
in control of a proverbiaI Wall Street
ring" had merely bought majority
OF the stock. That enabled it's mem
bers to do whatever they wished with
the Katy. They elected themselves
to the directorate, and took control
Immediately the conservative policy
that had built up the railway pro
perty was overturned. The treasury
that had accumulated many millions
was swiftly empticd. The surplus
that had accumulated in the Katy
since 1906, amounted to $7,98O,O 900.
IhlS sum was at once expended on
improvements and bcttcrments," in
cluding several other items. The sur
plus was in the treasury in the form
of bonds. The banking house to which
these bonds were sold obtained the
enormous amount of 81 1889 400 in the
form OF discounts and commissions.
The "conservative and protective
development" which was hcralded by
the new directors consisted in the pur-
chase by these financicrs of numer-
Gus terminal and subsidiary railroad
properties, which were attached to
the main systems of the Katy. These
properties were bought at high prices,
and their first mortgage bonds were
guaranteed, principal and interest, by
the Katy.
| shall give one example of the
caliber of the properties which were
thus loaded upon the Katy by the
ring" This was small railroad
line, entitled the Houston & Brazos
Valley road, which had been bankrupt
for five years. 1t had failed to meet
it's fixed charges in the year 1908 by
$1,612. In 1912, this deficit had in
creased to $21,891 This line was
bought in 1913, in which year it's de-
felt jumped to $27,806. In the year
following its purchase, the deficit was
$82,286. The little property was
bankrupt before it's purchase by the
"ring," and it has been bankrupt ever
since.
At this very time, there were out
standing, in the hands of individuals,
who had trustingly invested their saw
ings, and in the vaults of savings
banks and insurance companies,
$3.50, 100000 Of this railroads stocks,
bonds and notes.
The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1922-02-15

Other Lines Wrecked the Same Way
"But,' l hear a reader cxclaim, "you
are unjust to the Street You are
citing an exceptional casc-a line in
the hands of group of railroad
wrcckcrs."
TO which / am constrained to re-
sponcd: On the contrary, these are
the traditional methods of Wall Street
finance. Operations such as these
wrecked the Rock Island. Financing
Of this sort brought the New Haven
Railroad to an evil pass 1t was
through this program of conservative
expansion that the Old IIollins Syndi-
cate the G. II. & ID. bubble, and burst
it,
To be sure, The Man of Ice and his
associates represented a group of rail
road gamblers. But allied with them.
ana dominating the board Of the
Katy as managing directors, were
two powerful bankers of Wall Street.
The most prominent of these was a
partner in the large international
banking housc-a man of alien race
and foreign nationality--which was
foremost in financing the Katy.
The next in Importance was the
president of leading Wall Street
trust company on whose board the
International banker was director.
The transactions as above outlined,
and others that shall follow, were au-
thorZed by the member of the alien
international banking house and the
president Of the trust company
The partial cost to the Katy in dis
counts and interest on the security is
sues they authorized, amounted to the
enormous sum Of $685. ,425. The
Jewish banker sold the $l0,000OCO
onc-ycar notes to the public in 1910.
In 1911, this same banker sold the
Sl2,850,00O two-ycar notes to take up
the $l0,000000 notes. In 1913, the
same Jewish banker sold the $19,-
100000 notes to take up the previous
issue.
Continued on page Six
The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1922-02-15
NOTICE TO CREDITORS

All persons having claims against
the Estate Of Joseph j. Mitchum, de-
ceased, will present them duly at
tested. All persons owing said estate
will make payment to the undcrsign-
cd qualified Executors Of said Estate.
Porchcr M. Mitchum,
Ella 2. Martin,
chg. Executors.
Davis Station, S. c., r. f. D Jan.
16, 1922.
The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1922-02-15

Continued on page Six
Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1922-05-18

President Byers Of the Western
Maryland Railroad is quoted as saying
that the company's shops for the re-
pair Of heavy machinery will be moved
from Hagerstown to Baltimore. The
company has had great deal of trouble
with its striking employees and il
claims that the police OF Hagerstown
have refused to give them adequate
protection. The Western Maryland has
done more, perhaps, than any other one
factor in building up Hagerstown. and
the removal OF its great shops will be
a severe blow to that city.
Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1922-05-18
TEACHERS EXAMINATIONS.

Elementary teachers examination
will be held in Charles Town High
School building June and 2. High
School and supervisors examination
and reading circle books for the second
renewal, will be held June 3 in the
same building Elementary teachers
examination will also be held in Shep-
herdstown July Is and Ia. Examina-
lions will begin each day at 8 a. m.
The foregoing are the last scheduled
for 1922.
|. N. BONHAM,
County Superintendent,
Summit Point, w. Va.
Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1922-05-18
Administrators Notice.

Notice is hereby given Of my appoint
ment as Administrator OF the estate Of
|. F. P. Good, deceased. All persons
owing the said estate should settle
their accounts at once; and all per-
sons having claims against the es-
tate should present them properly au-
thenticated MERTON M. GOOD.
Nav If. 1o22-3w.
Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1922-05-18
FOR SALE

For sale, five desirable building lots
adjacent to Shepherdstown. Four
cents square foot. Apply to II. c..
Getzendanner, Charles Town, w. Va.
May II, 1922-4w.
Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1922-05-18
TO THE PUBLIC

v. P. Hill will be in Shepherdstown
Saturday evening OF this week, when
he will take orders for the famous
Thomas-Duplex raincoats, for men,
women and children, the best on the
market. II you want a really good ar
ticle, see him.
Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1922-05-18

Sermon delivered BY Rev. 6. (
tlickinger, d. D., in Christ Reform
Church, on mothers day, May l4,h
1922. Published by request.
Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1922-05-18

lust think-24 correspondence cards
and "a envelopes in cabinet boxes only
is cents a box at BoswelPs.
Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1922-05-18

Don't 60 to the minstrel show Fri
day night-that is, unless you want to
laugh heartily.
Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1922-05-18
What do you think of these punches?

Mems dress pants, from 2.2s
Mems khaki pants, from LIS
Mems khaki union overalls, $50
Mems dress shirts, loo
Big nickle alarm clocks, loo
o. N. T. silkateen, spool, .05
American Maid corsets, SO
Mems Paris pad garters, .25
Child's black sateen boomers, rs
Women's pink boomers, .25
Women's teddy chemise, so
Women's black hair nets, .0s
Women's white MILDLY waists, loo
Misses silk MILDLY ties, &c
Table oil cloth, yard, .25
Window blinds, firsts, sc
Cretonne, per yard, &c
Powered curtain scrim, yard, IL
Mems and boys leather belts, .2s
Ever-ready safety razors, .8e
2 in I shoe polish, &c
Vaseline, per bottle, .0s
Colgate's shaving soap, .0s
Women's gauze vests, nc
Women's gingham house dress, l.0C
Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1922-05-18
Billmyer's Bargain Store

Have made Hit? We say have. Watch crowds
buying honest values old time saving prices couldn't
trade on the Level would your patronage.
The Cordova daily times., 1922-06-15
FOREIGN VIEW OF SHIP SUBSIDY

The testimony given by Edward P. Farley one of the vice presidents of the Emergency Fleet Corporation, before the Senate commerce and House merchant marine committees, hold ing joint hearing on the ship subsidy bill, is interesting and important. Mr. Farley has just returned from Europe, where he lnYeSt- gated conditions in five maritime countries The European view, as eXpoundcd by him, ls on the one hand that the United States will be unable to expand its merchant malIne without government aid and, on the other, that the American people have made up their minds to have an efficient merchant fleet and will use all the means in their power to see that it is given the necessary amount of en- couragement.
 This, it must be conceded, is an accurate diagnosis of the situation It is quite true that not only the administration but also the American people as a whole are determined to keep the flag on the seas and cheerfuly to submit to the nfintesima taxation essen tial to the securing of that end. If the adOp- ton of this course will, as alleged, bring about a diversion of business which will work to the disadvantage of foreign ships, it is evident that the American ships will be correspond ingly benefited, and that, of course, is one of the main objects of the subsidy. At all events, it is not for an American to object, and the foreigner, accustomed probably to subsidy in his own country, can scarcely do so with any fair show of reason. Besides, the eventual disadvantage is really problematic, for if foreign trade over the world were back on |; normal basis, there would be cargoes and employment for every ship fit to sail. In any case, it is the obvious duty of the nation to see that its own merchant marine is, by subsidy or otherwise, established on a solid basis.
The Cordova daily times., 1922-06-15

city and hamlet in the country, featuring a pageant illustrative of epochs in American history
 The League maintains that the immigrant is confused by the waving of flags and con glomeration of sound that greets him on the Fourth of July, and that no organized attempt to interpret to him the meaning of the day is made.
 Parades are suggested to give true con ception of the cultural contribution of the fore gn-bom citizens. There should be floats or tabIeaux depicting in panorama the eras of Discovery, Exploration, Colonization, Sign ing of the Declaration of Independence, Birth of the American Flag, Winning of the West, Freedom for the Slaves, Industrial Growth of the Nation and America and the World War
 The Boy Scouts of America haves volun- teered personally to invite new citizens to be guests of the community.
 Speeches should be directed to practical ends, the league believes, tending to hasten the speaking of English and the reading of American newspapers, and to encourage the native born to show real neighborliness by teasing the use of offensive nicknames.
 Distribution of flags and a message from the President with proclamations by governors and mayors also were urged, with the sugges- tion that motion pictures depicting the pro gress of American democracy and slides con taining quotations from the addresses of fam ous Americans be introduced.
The Cordova daily times., 1922-06-15
THURSDAY, JUNE 15, 1922
IT'S TIME TO BUST" THE TARIFF
 FILIBUSTER

crisis in the affairs of the Republican ,)artv and of the American people has been created hy the continued delay of the senate in Fulfilling a solemn pledge of the Republican payty to the American people In the campaign of 1920,-a pledge to repeal the eXlstlnS Dell- ocratic tariff law and enact tariff measure in harmony with the Republican policy or protection.
 The Republican majority in the House of Representatives fulfilled the pledge of the Renublican faith with reasonable promptneSS' Nearly 8 wear ago-on July 1, l92l,-the House sent to the Senate tariff measure based upon the protective principle. Today the bill, as amended by the Senate Finance committee, is being debated i'll the Senate The debate has degeneraed into filibuster characterized by long-Winded partisan haran- eues by Southern Democratic senators "ho have set out to prevent, If possible, the enact ment of any tariff law. These politicians are willing that the country should suffer the evil effects of prolonged uncertainty as to tal1ll schedules, and that business depression ana unemployment should continue, on the theory that this will be of benefit to the Democratic party in the November election.
 The continuance of this fihbuster IS not only dscreditabe to the minority engaged III it, but disgraceful to legislative body driven by the present fihhuster to the confession that under it's rules it is unable to execute the will of it's majority membership and of vast majority of the American people, so long as a recaIcitrant minority chooses to object and obstruct.
 Free traders opposed to protection in theory, and importers and international money lenders opposed to protection because the eX- isting law promotes their own selfish financial game at the sacrifice of the producers of the United States, are hoping and planning to prevent tariff legislation during the present session of Congress-
 Failure to pass tariff law at this session, or further unreasonable delay in effecting such legislation, will be dsasterous both to the Republican party and to the country Entire ly too much consideration has already been given by the Republican Senate majority to the minority obstructionists.
 Republicans everywhere should cali upon members of the Republican majority in the Senate to terminate the intolerable situation which perpetuates the blight of the Under wood tariff law upon American business and to enact tariff measure embodying the pro tective principl No one expects that per feet law will be enacted, but whatever defects may appear in the new measure may be rem eded later. Meanwhile the millions who voted the Republican party into power have right to expect that protective tariff measure in fulfillment of Republican cam paign pledges be enacted, not on the eve of an election, but in time to permit it's opera tions to vindicate anew the wisdom of the tarI hofo +bo to the polls in November.
The Cordova daily times., 1922-06-15
Things We Think

isn't stranger than some of the fiction men tell when explaining how happened that the boss promoted somebody ahead of them
 A motor car that will not mote
 Would get deacon's William Goat,
 But not a deacon that know
 Would e'er admit his boat won't go. Nobody has explained why it is that just after you've told your guests out faraway road that you never had bit trouble with this since got it, the gives gurge and groan, wheezes and coughs few times and then dies.
 "The boy problem" about which hear much exists only the minds of people that don't understand boys No sex play last longer than performance if the public didn't it. You have to reform your public before you reform your plays.
 One thing you may be of--when the world moves so fast can't keep up with it. becomes re- former
 Hundreds of persons in your home town are weathier than Rockefeller They have youth and health. take me -awayer."
The Cordova daily times., 1922-06-15
DEPARTMENT OF THE INrEDIoz
 UNITED STATES LAND oFFlcE
Juneau, Alaska, May 23, 1922. SERIAL o474o

,,o,-r SERIAL o4742
 NOlIC IS HEREBY GIVEN +bo+ Ine AiaSka Petroleum & Coal Cono. pahy' Seattle, Washington. hae fiInd appLcation under the provisions oe 9GcIlon 1oo ~ of the Act of FebruerI, 95 sI'zo' TOT a permit to Drospect fo,, -j, o;3 ana gas on the Casey oil elaine H~oI oll 1' ana 5, situated in the oae+or,- p"II or the Katalla Oil Field A1as1[o III latitude 60 deg. 12 min. N and 1nnes: ttde IA deg. 01 min. 40 sac " on proXlmately, and more partfcu1arl-, dp scrlbed as follows:
 os commencing 70 n at the SW. corner
 U! Ihe casey No. 1 oil claim. run
 ing thence in northerly direc-
 tioh F miles to the NV. corner
 Oi the Casey No. oil claim.
 thence in an easterly direction 1S
 mile to the NE. corner of the,
 Casey No. oil claim; thence in 9
 SoutheTnly direction to the SF
 corner of the Casey No. 1 claim
 identical with corner No. of tha
 NugaWak oil claim No 8. U. &
 survey No. 1442; thence in west
 erly direction F mile to the SW
 corner of the Casey No. 1 oil claim
 to the place of beginning, contain
 Ing an area of approximately 4SO
 Each of the claims included wfthin thls application has been recorded in the office of the Recorder at Katalla. Alaska, in what is known as the Kayak Precinct
 Any and all persons having adverse or conflicting claims to said land are hereby notified that full statement. under oath of such claims, should be filed in this office, showing a superior right to a permit or lease under said act or valid existing adverse or con- flicting claim to the land, or the min erals therein, under the public land laws, on or before the seventh day of July, 1922.
 FRANK A. BOYLE, Register.
The Cordova daily times., 1922-06-15
EIGHT PA

oil and gas on the Nichawak Il, and 12 and the Pearl No. 4 ed in the eastern part of the K oil Field, Alaska, in latitude 60 l2 min. N, and longitude IA deg. min. 40 sec. w, approximately, al more particularly described as fol lows:
 Commencing at the NV. corner or the Nichawak No. 10 oil claim, identical with the NE. corner of the Nichawak No. II oil claim. whence the summit of Little Mich .- aWak Mountain bears about N 30 deg. 30 min. w. 320O it., running thence E. F mile to the NE. cor. her of the Nichawak No. 10 claim. thence s. % mile to the SEE, cor ner of the Nichawak No. 12 claim. thence w. 1 mile to the SW, cor ner of the Nichawak No 12 claim. thence N. 4 mile to the NV. cor her of the Nichawak No. II oi1 claim; thence E. F mile to the place of beginning, embracing the Nlchawak Nos. 10, II and 12 oil claims and including an area of about 4S0 acres.
 Commencing at the SW. corner or the Pearl No. 4 oil claim whence the summit of Little Mich. aWak Mountain bears N. about 71 deg. E. 1O,4OO it.; running thence N. i mile; E. A mile; & l mile; W. 4 mile; covering the Pearl No. oil claim, contajnine- an area of approximately 160 acres.
 The notices of these locations ar on file in the office of the Unite, states Recorder for the Kayak Record ing Precinct, at Katalla. AIasl,a
 Any and all persons having advare, or conflicting claim to said land ar hereDy notified that a full statemen. under oath, of such claim, shouId h liled Tn this office, showing a sunerio rlght to a permit or lease under sai, act or valid existing adverse n conflicting claim to the land or +b minerals therein, under the nuI,ti land laws, on or before the snvent, day of July, 1922. ''' u
 FRANK A. BOYLE, Register