davidaulloa/AmericanStories huggingface dataset:
Imperial Valley press., 1922-10-02
Section Eight

Section VIII provides as follows:
Section 8.
The board shall establish such
rates for service as in its Judgment
will provide, in addition to the ex-
penses of operation, maintenance,
depreciation, insurance and reserve
for losses, funds to pay the prin-
eipal and interest of all bonds isst-
ed under this article, as the same
fall due, together with all sums
. which may be advanced from the
general fund and interest thereof
as herein provided.
Each project, rs the same may be
defined by the board, shall he
charged by the board with its cost
which shall include its proper
share as fixed by the board and
all expenditures from the water
and power revolving fund and the
share so charged shall be credited
to such revolving fund which shall
be replenished, to the extent of the
amount so credited, from the pro-
ceeds of bonds sold TO provide funds
for the cost of such project. The
board shall establish such rates for
the service furnished by each pro-
jcct as in its judgment will pay,
within so years, such cost thereof,
and the expenses of operation,
maintenance, depreciation, interest,
insurance and reserve for losses;
provided that where the rates are
intended to provide for the repay
ment of expenditures made in ac-
quiring or constructing distributing
systems for political subdivisions,
they shall be so fixed as in the.
judgment of the board will repay
the amount of such expenditures
with interest within twenty-five
Imperial Valley press., 1922-10-02
The Water and POUer Act
An Analysis
By CHARLES L. CHILDERS :

There is another provision in this
section which the power companies arc
using to frighten the people with, and
it Is that the committee with the con
sent of the governor may issue bonds
to pay interest or principal on other
bonds already issued. This is 10 be
used in lieu of the provision in Section
o, which provides = that if the money
in the State Treasury applicable to the
payment of interest or principal shall
be insufficient 20 pay the same, money
shall be temporarily advanced from the
general fund. for that purpose, etc. 9
This is nothing to be frightened over
1t is simply good business. The board
has nothing at all to do with it. No
business can be run with such absolute
assurance that 1t can determine years
ahead lust what conditions or eontin
geneies will be met This year many
/ business man or farmer who intended
10 pay eff his loan fonnd that lnstead
II paying his loan he was obliged to
re finance. by Il new loan TO pay off the
old This is simply putting the state
in the same position that the power
companies and every other business has
always occupied If this act did not
provide for this contingency the state
could not sell its bonds. The inyestor
knows that adverse conditions are
aiwatvs possible and the State of Cali
fornia does not want to be put in the
EMBARRASSING situation of having debt
on its hands witt, no legal machinery
to pay it with. This is only a tempor
ary measure aud ii is made the duty
of the board to fix rates that will take
care of all Of the interest, principal
and all other expenses and to repay this
money to the State Treasury with in
terest. How many of the power com
panies have paid off their bonds in
money without making a Rew loan to
cover it That il u very eoplmon and
popular way of handling and financing
a business, particularly where great
dead of new Development is constantly
going on. They use their income for
further development and re-finaree by
further loans to take care of their
bonds. This cry on the part Of the
power companies is Only another amaz
ing ine0nsisteney--this provision only
puts the state ON fair competing basis
with private companies and indiyidu
al
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
STORAGE BATTERY
|. IN ACTIVE DEMAND
Prices in General List We'll Sus-
tainsd Despite curtaIIed
Speculative Activity

The continued activity and strength
Of Electric Storage Battery supplied the
most interesting development Of the
local market. The forward swing in the
stock which started few days gathered
additional momentum during the morn
ing and the action indicated the float.
ing supply had been pretty thoroughly
cleaned up in the recent quiet absorp.
tion. Considerable amount Of stock was
taken for the local account both on the
home exchange and also on the big
board. The result was an advance Of
more than a point to AN, which ls
within ~ point OF the high record
price.
While there was no actual news de.
velopments to account for the renewed
speculative activity, the basis of the
movement could easily be traced to in.
formation concerning the increased
operations Of the plant. Unof6cially, 1t
Is stated, orders on hand are not only
sufficient to keep the present plant In
full operations, but also the new .ad-
dition, which Is expected to start With
a full force within the next thirty days.
In the general list trading continued
quiet. but considering the uncertainty
Of tie immediate outlook Of both the
coal and railroad strike situation most
of the local stocks held up surprisingly
we'll. In the majority transactions
comprised small odd lots. Pennsylva.
MIA Railroad was one Of the few ex-
ceptions and continued in moderate de.
land for the investment account, and
which inquiry raised the price to 443s.
Philadelphia Electric preferred went
into new high ground a t3O9s on lin
tied dealings. p. II. T. was much
stronger as result Of the recent or
ganized support, rallying to 3Oh. No
effort was made to resume the for
ward movement started in U. G. I.
in the last hour yesterday, but the
stock found ready takers at SO. Con-
solidated Traction Of New Jersey fea-
tured the inactive list, advancing IN
points to 52A. Lehish Navigation con-
tinued we'll sustained at IS.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
MARKET inclined
TObE IRREGULAR.
Representative IndustriaIs Move
Into New High Ground Be-
fore Meeting Profit Taking

New York. July 2O.-.Today's stock
in the earlier proceedings gave every
promise OF repeating the remarkable
performance of the immediate preceding
sessions BY continuing to plough its
way upward despite all kinds Of bad
news. The forward swing was resumed
Mt the opening and continued with little
or no interruption during the first hour
of the trnding. In second hour. how
ever. it was apparent the substantial
advances Of the last four days offered
profits too Turing for the professional
contingent to resist taking. The
realizing naturally checked the rising
trend and produced more or less irregu-
larity, but there was not the first Of
weakness anywhere.
While the overnight advicce pointed
to serious interruption of Industrial
activity by the growing fuel shortage.
most OF the industrial stocks moved into
new. high ground. more especially thc
stecls, whichc industry is feeling the
pinch of lack of coal the worst. The
same applied to the motor group. II
was intimatcd further prolongation Of
the coal strike might result in curtailed
automobile production. Yet these same
shares after some little hCSltancy moved
ur with surprising alacrity. 1t was the
same curious condition as TO the oils.
The price cutting in both crude and
refined from ell indications is rapidly
developing 10 merry war among the
various producers. Still the oil stocks
We're moved up with the rest.
AS a matter of fact leadership cen
tered in the oils at the outset with
Mexican Petroleum standing at the head
of the procession with further ad-
vance Of 3 points. Soon after the
initial operations trading shifted more
generally to the steels and equipments
many of those shares showing gains
of to almost points. Republic Iron
and Steel was especially prominent be-
cause Of the favorable character Of the
report for the second quarter. But it
was the continued buoyancy Of the cheer
leader United States Steel that fur
niShed the strongest lever in the uplift
Of the steel group. That old time m
vorite made Il new figure for the move
mcnt in reaching 1O25$. which is within
- point Of the years top price
The rails. because of the disappoint-
ing turn in the shopmcn's strike situa-
tion, remained dull and irregular, al
though II. x q. coinue strong and
made n new high for tn" year.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
DIVIDENDS DECLARED

Lincoln Manufacturing Company, quarter
OF record July IS. "~"
Cities. Service Company. one-haif Of !
per cent on the preferred stock ReSular
ore-half Of per cent on common and pre.
fsrrsd b In scrip and per cent on
tember / 70 stock OF record Ausust 1Sp 1Sep
.,l Borne I..I Milis aua1tsry 3 per. cent. pay
Davis Mills Corporation. uusrtsryv Ssy ~ L.
per cent; pSysbls September 20 10 stock
Pacifo Gas and Electric rer,,,.r mar.
terly 81 80 on both first and ORIGINAL pre-
feIred Ts, payable August IS to stock Of record
New Niquero Sugar. per cent on COM
pM,n' m1n' payable July 81 to stock of record
Hood Rubber Company. regular quarterly
TX per cent on preferred. payable August
Clinchneld Coal Company, rsrula, quar-.
terly Sl,71 on preferred payable Xurxst
TO stock Of record July Cb ''NsN's
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
!. O. Of Louisiana Reduces Prices

Louisiana has made a second cut Of twenty
Ave cents a barrel In all grades Of North
Louisiana and Arkansas crude oil. bellevue
crude was the sole exception remaining at
seventy-n cents. Second cut was met by
Gulf Refining Company but Texas Pipe
Line Company has not yet met either reduce
tion.
Ga asoline has also been reduced one cent
q gallon to twenty-five cents retail and
twenty-five cent tank wagon preserving three
cent margin. ono cent OF which represents
State tax.
Under the second cut In crude Bellevue
and Pine Island heavy oil. are on a par
from 81. 35 70 sl,oO barrel Homer. 81
70 sl:o2; e! Dorado, ,ils25 and and si:so;
81 25 to 81 40. De Soto, $3.50. and Crichton
I
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
CHICAGO BUTTER AND EGGS

ChicaSO. July 20, -BCTTEK higher
creamery estras. s4h g; nrsts so's @ssh 0;
EGGS weak, 10. $40 cases; frsts. 2oh q
&c ordinary hrsts, l9h @2oc; rniseslaneous
storage-packed hrsts, 22c
POULTRY steady; fowls. 2lhe: broilers.
"a q CSC; roosters. 14hc.
POTATOES about steady; carly demand
slow; movement limited receipts. 20 cars;
total United States shipments, 7Os cars;
on track 1T cars: Eastern Shore Virginia
barrel Irish Cobblers. s3.s5Q4.l0; mostly
$4,000; Kansas sacked Cobblers No. /.
slightly dirty So; sacked early Ohios slight
ly graded, / car. 81, 90: Minnesota early
ohios. sacked. sl!shtly Graded. slightly I'M
mature. ] car. $l.00.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
MoNEY.LENDlNG RATES

NEW YORK-Money on call. both classes
of collateral opened today at per cent
for lending and renewing ,
A little more money was available cary
today on call at per cent. the renewal ng-
u.e, than for Wednesday. The market gen.
orally wac rather dull,
Time funds were nominal at ~ and : per
cent Tor sixty days. per cent for ninety
days. A. per cent for four ana nve mohths
and AZ and "a per cent for SIX months,
active and unchanged at 1 and ~ per cent.
can loans en- prime Lank acceptances were
unchanged at 3h per cent.
The market for aCceptances was quiet
Rates we're practically unchanged at 3h and
A per cent for thirty 20 100 days ana oN
and 3ls per cent for $50 days.
PHILADELPHIA Cali. ~ Dor cent:
time az to Al per cent; commercial paper
three 10 six months. Az to 4h per cent
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
Raw SUGAR Market

New York. July 20.-The raw sugar mar
ket is active and arm with Cubas for July
and Augast shipment quoted at 3%c, cost
oped In tho market late on Wednesday. total
tIanssctions ayyresatinE approximately 900
900 bags. Of which renners took about l50.
8Hc and 3 9-l6c, cost and freight, the
balance going to operators and Canada.
Arrivals OF raws on Wednesday included
4s, 900 bags Cubas to the Federal Sugar
Refining Company. so, 900 bags to the Amer
The local refined market is irm and un-
changed at prices ranging from $500 TO . SOC
Company being temporarily Withdrawn.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
Commodity Markets
GRAIN MARKET

Chicago. July 20.-With apparent
lessened prospects of any immediate
settlement Of the railroad strike, prices
for wheat tightened up n little today
during the early transactions. Some
attention was given also to talk about
a rally being natural in view of the
recent declines. Selling lacked volume.
The opening, which varied from un-
changed figures to sc higher. with
September S1.11M to Sl.11&s, and De-
ccmber 81. 1.l3I TO Sl,133S, was followed
by slight gains all around and then a
moderate setback.
Corn was frmer with wheat. After
opening 1,c to asc higher. September
64i4c to 64"sc, the corn market scored
a little further advance before begin
ming to react.
Oats started &c off to a like ad-
vance. September 357sc to 3Gc. and
later showed trife further upturn.
Provisions reflected the frmness Of
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
Bank Of Enoland statem.n.

London, July 2O,-Jrhe weekly stat.m.r,
Of the Bank Of England shows the follow.
Ing chanses: Total reserve decreased i5os, !.
Gre. ssd ioI go other sscurisi., 9s incpe.ssS Gs
q 5eS. 600, other deposits decreased n, ,oOS'.
SSS oc "a
sss%rltss dscrsassd 49,. 900.
The prHDcrtion Of the bsnk's reserve to
;ssS, .s:G 4 ~ - .sst s 81 ssai rate o. a. a.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
AtchlOon Cut.OH

washington, July 20.--Santa Fe Railroad
plans to secure construction Of an additional
main & track l1s between Eldorado and Eli.
by the Interstate Commerce. Commisson
The project VIII cost S2.el7.00O and viii
lnyolye laying ~ miles Of new line, cutting
tie present Santa Fe main limo in crossing
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
NEW YORK COFFEE MARKET

New York, July 2O.-Cables talking
short brazilian crops failed to check
the declining market here. This morn
Ing prices worked down . to points,
Influenced to some extent by the poor
showing OF the early official cables.
At midday prices held close 10 initial
fsures, with trading quiet and feature
less. July was switched to December
At points then at g points. Jobbing
houses continued to report poor de-
mand for the spot article.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
BANK cLEARlNGS
Gain. In Coke Production

Connellsvhle, Pa. July 2O.--The weekly
day, shows a gain OF 10000 tons IN" in coke Ike
product lion over the previous week. During
tons. An increase OF several hundred in ths
list of oparating. ovens was noted. MANY
plants remained IDLE because Of the miners
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
lIxerpool Cotton

demand for spot cotton today. with middins
nye points higher at 1850. The sales @ were
nsiSass SSSS ssoo S.: %ss:
auist q the early fH.s.l'n.S: ,spot prioss
middI!ns. eedj full. mid .m,iddiiny, y. .10d;
i2'26d. aud ordinary. tt.76d.'
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
London Metal Market

* o5nnaon. July 2o;-,Istandard copper. spot.
'I,S tu,ua.. 'gS t0' hessa9'ytG spot,
%; futures. fl67. Lead. spot. f2b los; fus
lures. f2a 2s Cd. Zinc, spot. f20 l2s I'd;
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
RAILROAD EARNINGS


FiSurss for contemplated construction are
syidsnes in the activity In the real estate
jscisd plane IN ths PhilsdsipSiS tsIritcfy
sppeer regularly IN the many columns devoted
ss ss.ls ,'ss s:'' L:sss e = sH'i:!:' r.:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20

exempt from Federal normal income ia 4
tAcceptabe for payment OF income ta
due on date OF maturity,
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
BAR SILVER

New York, July 20.-Commercial bar siI-
YER per fns ounce: Domestic, 08 ~ centn m
changed; foreign, 70 cents. an advance of
u cents -
london. July 20.--Bsr silver was Y 4
higher here today, at asa d.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
Producers curtaIi DRILLING

Producsrs in the. mid-continsnt district
ssning protected. drilling operations notably
70 Okishoms fields This I! The Ts.ult Of two
two days. T7 NJ
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-07-20
PHILADELPHIA BONDS
FOREIGN EXCHANGE

New York. July 2O.-Thc market
opened this morning with much
brighter tone than last nights closing
figures indicated. All of the leading
rates showed advances and appeared to
have quite recovered from the sharp
selling movement that characterized the
market yesterday.
Sterling cables AS 7-1o, demand
4.46 1-16; franc cables 8.47h,, checks
S.48A; lire cables 4.67, checks
4.661a; guilder cables 1892, checks
1887; Swiss cables 1921, checks
1918; pesetas cables 1857, checks
1865; Swedish cables 26.O7 checks
~. O2; Relgian cables S.03. checke
S.O2H Denmark cables p .64, checks
21.59; Norway cables 1866, checks
80; marks .2012.
Central European exchanges were
dull and irregular today. As an in.
stance Of the remarkable contrarness
Of exchanges generally, Austria pre-
sents an outstanding feature. In spite
of the turbulent financial conditions
In and about Vienna the exchange rate
On Austrian was Z points higher today
than yesterday. Rupanian, .82X;
Bulgarian, .78; Greek, 3.25; Finnish.
2.14 Serbia, 10; Jugo -Slavia, .29A
Czecho- Slovakian, 224; Hungarian
.074s; Austrian. .OO35; Polish, .OO1S
The rate of premium on New York
funds In Montreal today was 1 l-61
per cent. The rate of discount in New
York today on Canadian funds was
per cent.
YESTERDAYS C1,osrN,, orrorAr,o>,s
The evening world., 1922-02-17
DYNAMITE EXPLOSION KILLS
TWO and ROCKS TOWNS
In JEL.SEY FOR MANY MILES
Blast in Packing House of
Atlas Powder Company Near
Lake Hopatcong.
BUILDING is WRECKED.
One Town p Miles Away
Feels the Shock-CauSe Of
Explosion Not Known.

Two men employed in the dynamite
packing house of the Atlas Powder
Company, near Lake Hopatcong,
N. j.. were killed to- day in an explo-
sion which completely demolished the
building. There were no other en-
ployees in the building at the time.
The dead men wcrc Fred Alpaugh
of Succasunna, N. j., and Eugene
I.ommen of Ledgewood. Alpaugh
was married.
The explosion occurred about lilo
o'clock this morning, while the two
mon were engaged in packing dyna-
mite for shipment from the plant. The
hifiding is isolated and none of the
other buildings of the plant was in
jurcd.
Of1cials of the plant declared that
they would never know what was the
cause of the explosion. The building
was a onc-story frame structure.
The explosion was heard in Newark
and in other towns from fifteen to
twenty miles away from the western
end of the lake whore the plant occu-
pics several acres of ground.
Buildings at Newton, twenty-five
miles away, were shaken by the eX-
ploSion.
The evening world., 1922-02-17
WOMAN WHO FLED In AUTO
NIGHT OF TAYLOR'S MURDER
NEW FIGURE In MYSTERY
Up to Garage in Ven
tura, CAL, at 3 A. N. for
Gasoline and Rushed Away.
SEARCH WIRE RECORDS.
New Clues Involve Actor, Said
to Have Been Jealous of
Attentions to Wife.

LOS ANGELES. Feb. ia new
mystery woman was brought into the
investigation of William Desmond
Taylor's murder to-day. A garage
man told how a young woman, bare
headed and in evening gown. appeared
TO be fleeing from Los Angeles the
night Of the murder.
tura, Cal. at A NJ. and ordered all
the gasoline and oil her car would
hold. She had driven up at terrific
speed, her hair was blown awry. her
face was pale and drawn. and she bit
nervously at her gloves. She gave a
bill In payment and did NJ wait for
cll2r,co The gara1b mag gave de-
tectives the humber of the car.
District Attorney woolwine has or
dered a search of the records of all
telegraph offices in Los Angeles for
messages sent by and received by
dSlO SuOItly OSlOlS MS NSdbh' MI
Woolwine received a tip that a woman
private detective in Chicago could
supply evidence that Taylor was slain
by blackmailers and had the Chicago
police investigate, but the woman de-
MED knowing anything about the case.
Other new developments to-day are
that another woman and another
actor with still another motive for the
murder of william Desmond Taylor
are being studied.
According to information in the
hands of the authorities, an actor
until recently connected with a film
company here may have been jealous
OF Taylor. This actor went East
about five months ago and was gone
for two months. During that time
his wife was seen several times with
Taylor. The actor has left Los
Angeles since the killing.
Mack Sennett, who with Mabel Nor
mand was questioned in connection
with the William Desmond Taylor
murder case, left to-day for New
York on a business trip. Thomas IL.
Ince accompanied him. Before lcav-
ing Los Angeles Sennett issued a
statement eulogizing Taylor.
The evening world., 1922-02-17
FIND FROZEN BODY
OF YOUNG WOMAN;
MARKS ON THROAT
Tracks in the Snow and Autos
Marks Show Two Men Had
Fled From Scene.

CAMDEN, N. j., Feb. 1.-THE
frozen body of a young woman bear
ing the imprint of fingers on the
throat was found to-day twenty feet
from the driveway that leads from the
kaghn Avenue bridge over the Cooper
Creek to Forest lTill Park, this city.
Tracks of an automobile and the
footprints of two men were discern
ible in the hard crusted snow leading
from tho spot where the body was
found to the driveway.
The body was found by a lamp
trimmer employed by the Public Ser
vice Corporation. The woman was
about thirty years old and good look
ing. The body was dressed In what
detectives described as a second
mourning" costume, The feet were
encased in high tan shoes. and the
hat the woman wore, made Of light.
soft material in sport style and giving
"A mannish appearance, was found
nearby. She wore a gold signct ring
bearing the initials "E. G.. q"
There was no evidence OF gtrug-
gle leading the police to believe the
woman was either dead or uncon-
sCious when laid in the snow.
Tho throat showed several deep
scratches. The body must have been
exposed TO the cold for many hours
in the opinion OF Coroner Holl. Of
Camden County, who made a prelm-
mary examination.
The driveway beyond the Kaghn
Avenue bridge was deserted last night
and no one has been found who saw
or heard an automobile in that vicl-
nity