davidaulloa/AmericanStories huggingface dataset:
The herald-advance. (Milbank, S.D.) 1890-1922, 1922-03-29

THE people of England, as pretty
nearly all different peoples of Europe
r strongly opposed to prohibition,
but nevertheless they are watching
the outcome of the experiment in this
country, and some of their public men
are not sure but that il may prove
a good thing nationally, as Will be
seen from the following:
"Sir Arthur Newsholme, famous
British physician, has been diagnos-
ing Americas case for two years past
and now he is quoted as telling his
countrymen that prohibition pays. His
report, based upon personal observa-
tion and data available through Johns
Hopkins University. is to- the effect
that despite home brew and bootleg
booze, dry law has been a great force
for social betterment. He denies that
the drug habit has gained ground be-
cause Intoxicating drink has been for.
hidden, and points to statistics as in
dicating a decline of no less than 81
per cent. in infectious social disease
cases. Half the rescue homes of the
Salvation Army have been closed since
the land went dry, he says.
The herald-advance. (Milbank, S.D.) 1890-1922, 1922-03-29
publication Mar. % to April 5-3wl
NOTICE OF HEARING PETITION
LEIIERS OE AnMINISTR ATInN

LETTERS OF ADMINISTRATION
State Of South Dakota, County of
Grant. SIS. In County Court Within
and for. said County
In the Matter Of the Estate of
Amelia Fritz, Deceased.
The state of South Dakota Sends
Greetings to the heirs at law Of
Amelia Fritz. deceased.
You and each Of you are hereby
notified that Ida Reeve has filed in
the County Court of Grant County,
State of South Dakota, her petition
asking that Amos I. Reeve be ap-
pointed administrator of the estate OF
Amelia Fritz. deceased, and that said
petition has been set for hearing at
a regular term Of said Court to be
held at the Court House, in the City
OF Milbank, in said County, on the 18th
day Of April, 1922, at the hour of ten
o'clock A. M.
This notice to be published once
each week for three successive weeks
in the Herald-Adyance, and copies
mailed as provided by law.
S. S. LOCKHART,
County Judge.
(SEAID
The herald-advance. (Milbank, S.D.) 1890-1922, 1922-03-29

Qualification Feb. ! to Mar. 2a-ow)
LEASE OF STATE LANDS
Notice is hereby given that on April
Bird, 1922 all Of the Unbiased State
lands in Grant County will be offered
for lease at public auction between the
hours of 10 o'clock A. M. and 5 o'clock
7. NJ. at the Court house in said eoun-
ty.
Dated at Pierre, s. D., January %,
1922.
N. f. KNIGHT,
Commissioner of School ard
Public Lands.
The herald-advance. (Milbank, S.D.) 1890-1922, 1922-03-29

Townley'S announcement that he
viii resign after the Minnesota o
vention, threw the delegates into ar
aproar. He had talked for two hours
replying to attacks made on him ant
other league leaders by Liederbach
Yesterday. Liederbach had charged
Townley with breach of promise and
had used the "short and ugly word'
towards him several times be-
fore he was reprimanded by Chairman
Miller.
Townley was asked from the floor
if he had not started a campaign for
his balance of power plan in an effort
to back up Senator Porter J. McCum-
Der for reelection.
II have advocated the balance of
power plan in Nebraska and Mime
sofa as we'll as North Dakota he
said. "noes that mean that ! am do
ing it to support Senator McCumber?'
Townley pleaded with the delegates
for harmony. lie said the balance of
power plan was sure to succeed.
81 can never make another great
effort for the league" he said. II
have done my best-given the best
years of my life>to it. / shall resign
as national president.
~ realize that the confidence YOU
once had in me can never be restored.
1t has been destroyed by the work of
this mar here" pointing to Lieder-
bach.
More fireworks were promised this
afternoon when election of a new
state committee and a decision on the
balance Of power plan was scheduled.
The herald-advance. (Milbank, S.D.) 1890-1922, 1922-03-29
SCHOOL OPEN THE E A
AROUND

The Aberdeen Business College will
be open AN summer. Send for new
catalog andN special spring and sum
mer rates. Prices down to pHe-war
levels. Address Geo. L. Kemper,
Owner and Manager, Aberdeen, South
Dakota.
The herald-advance. (Milbank, S.D.) 1890-1922, 1922-03-29

Telephone your news items TO the
Herald-lAdvance Office.
The herald-advance. (Milbank, S.D.) 1890-1922, 1922-03-29
SUMMER SCHOOL

Two six weeks terms beginning
u Is and July "a, 1922. Many
courses, excellent equipment. State
College, Brookings.
New-York tribune., 1922-07-26
National Bank Thrift
Bonds Upheld by Court
Judge Hand Rules Issues Con-
stitutc Time Certificates
of Deposit

Legality of the sale by national
banks of thrift securities similar in
character to the governments war
savings issues was supported yesterday
by ruling by Judge Hand OF the Fed
eral District Court in refusing in a
stockholders suit to enjoin the May
brook National Bank, Orange County,
N. Y, from selling to its depostors
"Compo" thrift bonds.
When the Comptroller of the Cur
rency and the Secretary of the Treas
ury declined to pass on the legality of
the banks practice. ]. R. Adams, of
Elizabeth, N. j., as stockholder,
brought the suit in the court here. He
alleged that it was illegal for national
banks to issue financial instrument
of this type, which evidenced a borrow
ing and constituted direct obligation
of the bank itself. The bank and the
Compo Corporation, in. reply, contend
cd that the bonds were q form of time
certificate of deposit and further stated
that they had been so classified by
Comptroller of the Currency Crissin-
ger. The decision upheld this con-
tention.
New-York tribune., 1922-07-26
Big Export Buying
Gives Wheat Pit
An Upward Trend
Volume of Hedging Sales
Declines; Market Closes
Unsettled; Prices I'm
changed to 2 Cents Higher

CHICAGO, July 25.-Liberal export
buying, together with a falling off in
the volume of hedging sales, had a
moderate bullish effect on wheat prices
to-day The market closed unsettled at
the same as yesterdays finish to two
cents higher, with September s1.07ss
to S1.07h and December S1O9As to
S1.09h. Corn lost 7sc. to 1llc., oats
were unchanged to ashade lower, and
provisions 10c. to zoe. down.
All the big export houses bought wheat
futures steadily and It was estimated that
moro than 10000 bushels wcro taken
for nearby shipment to Europe. including
l 100000 of hard winter grades TO 20 from
ports on the Gulf OF Mexico. In this con
advance in Liverpool quotations for nearby
deliveries and to the practical failure of
the Liverpool market to reflect the weak
ness of values yesterday in America. On
country offerings had been greatly reduced
because of yesterdays decline, although
hedging became more free again On the
bulges to-day. According to some shinnors
in Chicago bidding for cash wheat already
booked WAS strong. but it was hard to get
an attractive offer on wheat for more
the rail strike buyers were reluctant to
assume risk Of delay in delivery. This
circurnstance was held to explain the fact
that most Of to days advances in price for
september and December were wiped out
at the last, whereas July held a gain of
two cents
Corn and oats lacked any aggressive
support The bulk Of the trade consisted
of spreads
Provisions dragged lower, Influenced by
oreak In lard values at Liverpool
New-York tribune., 1922-07-26
Fulton Resigns
Vice residency
OF National CITY
No Explanation Given; Was
in Ill Health Last Year;
Is the Third 10 Quit
Within Recent Months

John H. Fulton's tenure of office as
ce-president of the National City
Bank terminated yesterday. Accept
ance of his resignation was announced
following the regular meeting of the
board of directors of the bank, the
formal statement explaining that Mr..
Fulton is at present on vacation and
nothing definite is known regarding his
business plans for the future"
Mr.. Fulton, who came to the bank in
1917 from the Commercial National
Bank and the Commercial Trust and
Savings Bank of New Orleans, of which
he was president, ranked as senior
vice-president of the National CITY
Bank. When the bank was operated on
the executive committee plan Mr.. Full
ton was one of the most active mem
bers of this committee, and during the
interim between the resignation of
General Samuel McRoberts and the
election to the presidency of Charles
f. Mitchell, he acted as spokesman for
the bank in its relations with the pub
lie.
Beyond the brief official statement
no explanation Of Mr.. Fulton's resig-
nation was forthcoming 1t was re-
called, however, that about a year ago
he was in i'll health and was forced
to absent himself from his duties for
several months.
In the five years that Mr.. Fulton was
identified with the National City Bank
he had built up a reputation for bank
ing ability. He is the third vice-pres-
dent of the National City Bank to re-
sign within recent months, being pre-
ceded in retirement by Rogers Farm
ham and Beverly D. Ha1r1s, both of
whom had served for several years
under the Vandcrlip and Stillman
recimeS
New-York tribune., 1922-07-26
Billion i'm Victory Notes
To Be Redeemed Dec. Is
Securities Maturing Next May
and Leitercd A. b. G. ID, Z
and f To BE Retired

WASHINGTON. July 25,-Approxi-
mately $1,000, 100000 Az per cent Vic
tory notes, maturing May 20, 1928, will
be called for redemption on Decem-
Der Is, 1922, as result of lots drawn
to-day by Secretary Mellon which de-
cided the series to be retired in ad-
vance would be those lettered A, B, c.
d, E and F.
AT the same time Mr.. Mellon an
nounced the offer of new issue of
Az per cent short term Treasury
notes, dated August /. 1922, and due
December 15, 1926, to the amount of
about S3oo.ooo,ooo with the right re-
served to allot additional notes up to
a limited amount to the extent that
Victory notes are tended in payment.
These two operations, Mr.. Mellon de-
clared, marked an important further
step in the development of the
Treasury's program for refunding the
81 $500 900, 900 of short dated debt
maturing during the current fiscal
year.
New-York tribune., 1922-07-26
Obregon to Ratify
Debt Agreement
Soon, Says Huerta
Declares President Awaits In
formation on Few Points
Only; Replies TO Remarks
Attributed, to us. Official

President Obregon Of Mexico con-
siders the agreement arranged between
Adolfo de Ia Huerta, his Minister Of
Finance, and the international com
mittee Of bankers as equitable and is
only awaiting information on few
points before officially ratifying it. ac-
cording to n statement by Senior de ia
Huerta from Mexico City, issued yes
terday by the Mexican financial agency
here.
The statement by Senior de la Huerta
is in the nature of reply to the re-
marks attributed in Washington dis
patches, under date Of July 20. to the
official spokesman Of the Administra-
tion on Mexican affairs. This official
declared that the Administration would
not be hurried into recognizing Cen
eral Obregon by Senate attacks and
that no concessions would be made on
covering the main points of difference
between the two countries.
Senior de la Huerta expressed doubt
that the United States government had
authorized any official to make such
assertions, which, he said, we're in com
plete disagreement with the cordial
spirit shown by President Harding and
Secretary Of State Hughes toward him.
There Is no foundation whatever to
affirm that President Obregon is un-
willing to ratify the agreements en-
tered into in New York with the credi-
tors of Mexico said Senior de la
Huerta.
Congressional Approval
The Mexican Finance Minister point
ed out that ratification of the agree
ment by the Maxican Congress was re-
quired by law and was stipulated in
General Obregon had failed in any oil
agreement, explaining that the oil pro-
posals worked out in New York had
not been presented for his approval.
IN connection with the efforts of the
Mexican government to solve agrarian
problems, Senior de la Huerta said that
there was no reason to form a judg
ment of the bonds of the agrarian debt
before their issuance or until the steps
being taken by the government to give
these bonds a real market value was
known. After remarking that unfavor
able statements, such as credited to
the Administration spokesmen in Wash
ington, 'hampered the efforts of his
government to strengthen these securi
ties, he said:
These bonds have not been placed in
circulation but had they been already
in the hands OF some landholders these
would be fully entitled to claim serious
responsibilities from those who pub
licly attempted to demert the bonds
in assuming that they were worthless"
Government VIII Buy Lands
Scnor de la Huerta denied that he
had said while in New York, that all
the lands had been paid for, explain
ing that he had said that the govern
ment would pay for all those that were
needed TO solve the agrarian problem.
He referred to a group of landholders
who had refused to come to an agree
ment with the Mexican government,
explaining that many millions of pesos
had already been paid in compensat-
ing owners, who have arrived at an
understanding with the present admin
ministration.
New-York tribune., 1922-07-26
Reorganization Of
MISSOURI, KANSAS q IEAA9~-.
RAU WAY COMPANY

Pursuant to the provisions of the flsh sas
Agreement OF Reorganization dated sssss..
Der /. 1921, the undersigned Reofgsn,lan.a
Managers have made and psbhshed oaeis
General Creditors OF Cd Missoan. Aans4,
Texas Railway Company t2l Ihe Asss~. ~.
Kansas & Texas Railway Company o. ieass
and 90 The Wichita Falls & Norshvess'.ss. = =.
Railway Company. and TO The hohsss :. -
following bonds guaranteed hy esdosserls.' r.
by Missouri, Kansas g. Texas Railway Sus'
psny, viz: First Mortgage Eve fei Ss.. S..s.
Bonds OF Texas & Oklahoma Raiiroad -. -,
pany First Mortgage Five Per Cent, De-, .s..
OF The Sherman, Shreveport L sou'9s.. =.
Railway Company. and First Mortgage e.. ...
Per Cent. Bonds OF The Beaumont y o'''
Northern Railroad. .,
Said offers are on file with Celumole W. ~"
Company, Depositary. so Brcadway, "
York City, and copies thereof may "A.
tanned from said Depositary or msres., :...-
Trust Company, Agent OF said pepos'ssiS
72l Locust Street, ST. LOUIS, m'''sN
o; the undersigned. 800, ca
On OF before September IS, is<<. o0.
eral Creditors should deposit assshnien. .u 80
their claims with said Depositary OF ~ -,
Agent and holders OF said guarantees, - ~.
should deposit the same, IN uegofiapls "a "A
accompanied by all unpaid coupons
sad Depositary.
Dated, New York. lt:ly &c. 1872. r,
& ". SELlcAAs 3 "a
l{stLGARIEs 4 Ce.
2.,r-s.t.atssn M1nfefss
New-York tribune., 1922-07-26
The Atlantic Refining Comu,sy
Ten Year Six and 0ne-Half Pr cst
Gold Debeutures
NOTICE OF REDEMPTION
TO THE HOLDERS or
THE ATLANTIC REFINING COMPANY
Ten Yeer Six and One Half Pr Ceps
Gold DebepfureS ,Iuo Maxi tset

You are hereby notified that ne Atlas
tic Refining Company has elected 10 pay
or and redeem as 4 whole OF ssssmss:
1st 1922. the entire SIS 900 ose principal
amount of its Ten Year Siz and Ons-Esa.
Per Cant. Gold Dsbentures dated March J.
1921. due March !. 1881. issued under Is
Trust Agreement with The EqusabIs Trsg
Company OF New York. Trustee is;s4
March /. 1921. As provided IN said Astes
ment the Atlantic Refining Company r.
quests each and every holder Of said Ds-
bentures TO present for payment and !s.
demption at the principal amount thereof
plus the premium Of ? 4 per cent. Of such
PRINCIPAL amount on September !. 1s22. A.
the office OF The Equitable Trust Company
OF New York. Al 81 Wall Street. New Yorx
City. in The Borough Of Manhattan aad
State of New Yorh. L S. A. ali such De-
bentures. together With coupon. maturirs
March /. 1928, and all subsequent cousoas
attached. and upon surrender OF such De-
bentures in accordance With this notes
the same viii be paid ans redeemed BY
The Atlantic Refining Company at im
principa! amount thereof plus the said re-
demption premium of three and cas.
quarter per cent t3i4T) Of such principal
amount. The accrued interest due Sss-
tember l. 1922. will be -snid upon sarreEes
of the coupon therefor which should be ~
tached and presented for payment IN tn
usual manner Interest on all the "
bentures will cease on September /, w
and the coupons maturing after s2id GAS
Will become null and void.
THE ATLANTIC REFINING CoAraNh
BY ALBERT HILL. Treasurer.
Dated: July 20 1892
New-York tribune., 1922-07-26
W agner Settlement
Confirmed bv Court

The settlement of the bankruptcy af-
fairs Of f. W. Wagner g. Co., stock
brokers, formerly with offices at 80
New Street, was confirmed in the
United States District Court yesterday
by Judge Hand. The final adjustment
grew cut of a composition offer made
through Henry H. Kaufman. Of Havs
Hcrshfield G Wolff, attorneys for Re-
celver John f. Sheppard. under which
the creditors are to receive so per cert
OF their claims in cash and the re-
mainder in time notes.
The firm has been reorganized into
the h. w. Wagner Realization Corpora
ton. 1t will take over the assets of
the bankrupt firm, pay half cash and
issue notes for the remainder. The
bankrupt firm failed December 30 1921
for $90G0,000. The assets amounted TO-
$o,ooC,ooo, of which S150,O0O was cash
on margins due the firm.
New-York tribune., 1922-07-26
NOTICE OF REDEMPTION
NOTICE OF REDEMPTION.
To holders of Victory notes and others co


TO holders of Victory notes and others con-
cerned:
Notice is hereby given follows:
Per Cont. Victory nOtes-All IA. per cent
states of America Gold Notes of 1922-Is23
Which bear the distinguishing letters "A
B, {. ID, +. or IF. prefxed to their serial
numbers having been designated for the
purpose by lot in the manner prescribed
called for redemption on December I5
demption contained in the notes and in
Treasury Department Circular No las
dated April 81; 1913, under which the
notes were originally issued Interest on
ain the y per cent, Victory notes thus
called for redemption viii cease on saiS
redemption date, December is, 1929
Victory notes of the 4as per cent series
bearing the disting utshng letters &c. H
jumpers t are not in any manner affected
by this call for redemption, and viii he
Solne Sne que and paya BILE as to principai on
May 20. 1929. according 10 their terms
detailed information as 10 the nresa,
teloh ana surrender of az per cent VIZ
TORY notes for redemp, lion under Ills caiI
IS given in Treasury Department. Ci~onlar =
No 23e. dated July 20 1922 contas ~
Whlch may be obtained from the rrassu,,-
Department, Division of Loans and O.,
rsncy, Washington. d. e, or any Fedaral
Reserve Bank " Guy feue1ai
A. W. MELLON,
July 90. 1929 "a lHe treasury.
New-York tribune., 1922-07-26
Rallies in Cotton
Erase Big Losses
Of Early Trading g
Sharp Rise Accompanied
by Bullish Crop Advices;
Close Is 2 to Is Points
Up. Afte 4O-Point Drop

From extreme weakness in the mid
die of the day, attended by declines
which carried all months into new low
ground and under the 21-cent level
the cotton market suddenly developed
a remarkable advance in the afternoon
that elevated the entire list fully 40
points above the lowest of the day and
appeared to have changed sentiment
around completely to the bull side of
the market
Increase In the number OF bullish crop ad-
vices from the Southwest. especially from
Texas. where 1t was said that hot winds
had caused the crop to dcteriorate rapid
ly. Not only werc shorts heavy buyers on
tho advance OF the afternoon. but there
was large increase In comm ission house
buying and in supporting orders from some
of the leading operators The market re-
sponse to the change In news indicated
that 1t was considerably oversold and that
most of the weak weak long Interests had had come
Az lowest levels OF the day, October con
tracts sold at 2o.s7c and December at
2o.soc. representing net losses OF about 40
to 81 points.
Used bear factor early in the ses-
sion the failure of any strike settlement
TO appear In the days news was later
ignored. and the market gave its whole
attention to the change in crop advicts
from tho Southwest. which were in marked
contrast to some OF those circulated earlier
in the day. The weather forecasts were
regarded little more favorable in
dicating an absence Of any important rains
in the Eastern belt and prospects for
somewhat cooler weather. with possibly
showers in the Southwest. There werc
about twenty-five notices Issued on July
contracts. trading in which ceased at noon.
The market closed firm and 2 to IS points
higher with buying active up O tho last
minute. giving every appearance of re-
turn Of bull confidence and indicating that
weak long interests had been pretty well
eliminated Southern spot markets as Of
fciaily reported We're 20 points higher to
rs points lower.
The local market for spot cotton was
steady and 20 points higher at 21.66c. No
sales were reported
Cotton
New-York tribune., 1922-07-26
NOTICE OF REDEMPTION OF .oNpa


July 90. 1922. "a Tue treasury
New-York tribune., 1922-07-26
Wash Goods Demand Slackens

The demand for wash goods has
slackened somewhat in the last few
days, according to some of the mem
bers of the trade. Ginghams have
slowed up noticeably and ratines also
have slumped. Printed voiles unex-
pectedly were in good demand last
week and the few members of the
trade who had these goods in stock
sold some good orders. Some of the
larger firms urged customers to buy
only normal amounts, for they said
retail buyers demands this season
were scattered and uncertain. The
1923 spring line will be opened by some
of the larger concerns about August is.
New-York tribune., 1922-07-26
FINANCIAL MEETINGS

II stLtlhE ! N q "
ReorGarisasson Aah's'
New-York tribune., 1922-07-26
u. S. Steel Shows
Gain in Net for
Second Quarter
Earnings $27, ,286, ,o45, Com
pared With $1o,330, ,o85
i'm Previous 3 Months;
Declare Regular Dividend

The recovery in the steel business Of
the country in the second quarter OF
1922 is reflected in the income of the
United States steel Corporation for
that period Net earnings, after de-
ductng all expenses incidental to
operations, including Federal taxes and
interest on bonds of the subsidiary
companies, were S27,286 ,o45, compared
with $1e,339 1856 the preceding quarter,
and $21 ,e92,o16 for the corresponding
three months Of 1921.
Earnings available for dividends for
the June quarter were S11,196,3b5,
equal after u preferred dividend dis
tribution of $6,304, ,919 to 96 cents a
share on $508, 900 common stock
outstanding. This compared with S6,-
909,232, or S1.64 share earned on the
preferred stock in the first quarter and
S5 cents share earned on the common
in the second quarter of 1921.
Although the corporation again failed
to fully cover the amount of it's com
mon dividend payment in its earnings
statement issued yesterday the direc-
tors continued their policy of declaring
the usual payment Of $l.25 share, in
dend Of 1a4 per cent on the preferred
stock
Net earnings by months for the JUNE
quarter were on an ascending scale.
The total for April was S7,750,054, for
May $8.824,887, and although the coal
strike was in force all through the
month of June, net for that month ex-
ceeded that for each of the other two,
amounting to S10,712,004
Based on the showing Of the two
quarterly reports the Steel Corpora
ton for the first half Of 1922 earned
a surplus Of S11,106,35b, after taxes
and charges, equal to 88 cents a share
on the common stock, contrasted with
$23,5e2,637, or S2.15 share earned on
the junior stock issue in the similar
period of 1921. Net earnings after ex-
penses incidental to operations for the
six months period were s46 ,626,930,
against STATISTICS in the first half Of
1921.
The income account for the juno,
1922, quarter compares with the CORE
spending period of 1921 as follows:
Net earnings. .ss7sss.s.5 sss 50, s.. .ols
Dep. and sink. fund. Il ,067. 1872 S,66b, SOY
Int. and premium on
Preferred dividends. e.3O4,olo s.So4,9lo
Common dividends 66,$ss,asi ss53' - l
To fully earn the 1A per cent divi-
dend declared on the common stock
for the second quarter the surplus
after charges should have totaled S12,-
658, 700. For the six months period a
surplus of s25,317,000 was needed to
cover both the preferred and common
dividend reOuirementS