davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1922-08-31
CARUSO SAVED
MOTHER-|N-[AN
FROM CHARITY
Mrs. Benjamin Placed in SAM
tarium Without Necessary
Funds, Disclosure.
BY Universal Service.

GOSHEN. n. Y. Aug. 81
Startling disclosures Of how the late
Park Benjamin consigned his wife
to the sanitarium of DR.. F.. w. Sea.
ward here twelve years ago, visiting
her only twice during the past seven
years, and how she was saved from
remaining a charity patient by the
late Enrico Caruso came as a sequcl
to the publication Of the attorney 8
unusual will.
Suffering from a slight mental
disorder, Mrs. Benjamin. the mother
Of Romeyn and Dorothy Park Ben
Jamin, was committed to the sani.
tarium in 1912.
When DR.. Seaward, four years
ago, wrote Benjamin that because Of
the increase Of the costs Of mainten.
ance he would be forced to ask for
additional payment for Mrs. Ben
jamin's care. the husband replied
that he was not at all interested in
the sanitarium's inability to carry
out the financial terms of the
original agreement.
: A Charity Patient.
DIR. Seaward, rather than turn the
elderly patient out. decided to keep
her on the status of a charity pa.
tient. This he did for several years
until Enrico Caruso, hearing of the
aged woman's plight after he mar.
ried Benjamin's daughter, came to
her aid. The famous tenor paid the
defaulted bills, took over the ex.
penses of an operation, and arranged
to provide for Mrs. Benjamin's fu.
ture.
When the late Mr.. Benjamin, pro-
posing to adopt Miss Bolchi, for.
warded the adoption papers to his
wife. DIR. Seaward returned them
unsigned, explaining that Mrs. Ben.
jamin was in no condition to be a
party of such proceedings. Later the
patent attorney applied in a Pennsvl.
vania court and obtained sanction for
the adoption of the woman. =
The Washington times., 1922-08-31
EXCELLENT MUSIC At
CHURCH OF COVENANT

Ross Farrar, tenor; Estella
Thomas, violinist; Richard. Lorle-zd
berg, violoncellist. and Christcpherih
Tenley, organist, will be heard. at lb
the special musical service at the
Church of the Covenant next Sun =,
day evening. ., r...
The following program win be 10
given: "Andante." by Beethoven "a
and Evening Song" by Schumann;o ..
tenor solo, 20 Saviour, Hear. Me. 's1
by Buck. and violin solo, Cant
AMBROSE" by San Martin. 'e
The Washington times., 1922-08-31

service have added to the musical de-
mand, and this has resulted In an
excellent patronage for this charsc'
ter of entertainment.
The prospects for the forthcom-
ing concert season are of special in:
terest in this respect, as fully seven;
ty per cent OF the subscriptions of
the past season have been renewed,
while at least thirty-five or forty per
cent proportionately have been add
ed in new subscriptions. Many Of
the artists engaged for this year are
newcomers to California. although
they have appeared in many cities
in the East"
The Washington times., 1922-06-23
30,000PERS0NS
BADLY HOUSED,
REPORT CLAIMS
Finance Committee on Hous-
ing Says 5000 New Homes
Are Needed.

Thirty thousand persons are i'm.
properly housed in Washington. the
finance committee Of the local
housing committee. headed by Mrs.
Clara Sears Taylor, declared yes.
terday in a report submitted to the
steering committee.
The report points out that there
appears to be no real difference in
money rates in Washington as COM
pared with other cities.
The report says:
There are $4,000 people, includ-
ing the alley dwellers. in Washing.
ton at this time. who are improper
ly housed. u will require at least
5000 new habitations, allowing five
people to each home, to house these
people. To determine the cost Of
these new homes is beyond our
power. Any estimate we might
submit would be Of no value.
I'VE have also investigated and
ascertained the cost Of money in
Washington and elsewhere with the
following result:
"The rate Of interest prevailing
in the District on first mortgage
loans Is and per cent, with l
per cent commission or brokerage.
except in case of building loans
where the brokerage is per cent.
We believe that there Is an abund-
ance Of money in Washington for
first mortgage loans where the
margin is satisfactory or reason
able, that L. from go to 20 per cent
of the cost.
"on second mortgages the rates
are higher, according to the amount
- Il kv.xK nal
element Of character and financial
responsibility of the borrower. The
rate OF interest cannot legally be
more than 8 per cent, but a bonus
Is usually charged. These bonuses
will, we believe, run all the way
from 5 to 25 per cent. We have
heard Of exceptional, cases which
have led us to believe that bonuses
as large as 40 or 50 per cent have
been charged, but we feel that
these are exceptional and caused
by some unusual risk or hazard.
I'VE believe from the examina-
ton that we have been able to give
to the matter that there Is no real
difference between the rates of
washington and other large cities.
Your committee believes that In
many cases exorbitant rates OF
interest, bonuses and commissions
have been charged. '.4
1--WE want to assure the public.
however, that the bankers and
building and loan associations of
Washington, so far as we are able
to learn, are not involved in this
practice. Furthermore, that the
home builders, with sufficient
knowledge of the situation to en-.
able them to proceed intelligently.
can procure suitable loans for home
building at fair rates, as compared
to other conditions In these post
war times" '.. $50
The Washington times., 1922-06-23
MARKET :.
ADVANCES IN
EARLY TRADING
Entire List Moves Forward In
Vigorous Fashion to
Higher levels.
BY w. 8. COUSINS.


Copyright. 1922. by Cosmopolitan News
service.)
NEW YORK, June 23.-In an or
derly. but vigorous, fashion, prices
on the stock market moved forward
to higher levels in almost every de-
partment from the beginning of the
trading today. In view of the stock
exchange governors investigation Of
the market action of Mexican Petrol.
cum. interest was largely centered in
that stock, but II failed to exhibit
any Of the fireworks that have fea-
tured its forward plunge in the past
ten days. Its place was ably filled.
however. by Pan-American. which
owns a controlling interest in Mexi-
can Petroleum. Opening at TN. for
a fractional gain, Pan-Americen was
rushed forward in the first hour to
S2h, a new high for the year. while
Mexican Petroleum receded 3h
points to $50. Pan-American "B"
stock also registered a gain of 6
points and sold at new high for the
year at 76. The balance Of the oil
share list was comparatively inactive
throughout the morning session.
Continued interest in the shipping.
railroad and motor stocks was evi-
dent from the manner in which these
stocks were snapped up at advancing
quotations. Atlantic Gulf led the
shipping stocks in an advance of 2
points to 80. while Maxwell Motors
"a" above 6S. was the most promi-
nent of the motor group. New York
Central. at 92h. was only fraction.
ally below its best previous record
for the year, and Coca Cola, above 81.
featured the speciality group. e
Atlantic Gulf is at present profit
ing not only from its steamship ope-
rations. btt also from the oil pro-
duction of its subsidiary, the Allan.
tic Gulf Oil Corporation. which is said
to be producing at the rate Of 20. 900
barrels daily. The company is in q
strong cash position. Studebaker
also was comparatively inactive dur
ing the morning session, fuctuating
hardly more than q point up to the
noon period. 1t is stated on good
authority that the 80 points rise in
Studebaker since It crossed par has
been accomplished without the CO
operation of a number Of prominent
plungers who was responsible for It's
rise from 80 to 100. Since then the
and the heavy demands from the
investing public have been the chief
features Of the upward progress Of
Studebaker prices.
Railroad stocks have been gaining
In popularity as the result Of the
steady progress that has been made
in transforming the carrier systems
from a losing to q paying basis. Rail-
road problems are far from solved,
but steady progress in the right d.
rection Is being made. Current car
loading reports indicate high record
Of operation All the prominent rail-
road shares made fair advances in
their market prices in the first two
hours.
Call money returned to 8 per cent
after its ascent to 3h in the last
hour yesterday, and funds were
available in plentiful supply at the
lower rate.
Curb Stocks.
The Washington times., 1922-06-23
Local Wholesale Prices

Eggs-strictiy fresh. selected. per dos,
20; average receipts. IS: Southern, -.
Live poultry--Roosters, per H., Is:
turkeys. per ID. 2s@aO; spring chickens.
per per- ib.: te3s: keats. young. EACH sS;
Dressed pouItry-Fresh-k killed winter
chickens. per H.. 5000; hens, per h..
80; rooster. per h., 20: turkeys. per h..
$500; keats. young, each, so.
Livestock-Calves, choice, per h.. 10
lambs. choice. per h.. IL; libs hogs. per
h.. IL.
Green fruit-Apples. Der bbl.. 5000
SOC; per bu. basket, z.oo02.75; Western.
per box. 2.T5@425. California oranges.
per crate. 7.6o@s.oo. Lemons, per boz.
3.so07.oo. Grapefruit. per boz. 5000
500. Floria oranges, 7.So q ESQ. Straw
berries. Southern, b0ls: Homegrown,
observation-disclosures. No. 1. per bbL,
2.bo02.75: per sack, 500 q $50. New
potatoes, per bbl, No. 1. 6.0o0s.oo; No.
.. i.2o 400. Sweets, t.o004.S0. Yams,
3So0s.So. Lettuce, Southern. per crate.
SerNl.oo. Romsine lettuce. 1.6o. cymb-
hngs. per crate, Loo01.Bo. Onions. per
cwt.. 7501.oo. Cucumbers, 2006: $50:
Esgpiant.. per crate. s.oe03.So. Toma-
toes. per boz. Florida, 400 0s.so. Beans.
l:oe02.oo per basket. Peas, 1.Se0kee.
Peppers, per crate. sf.Be@ $50. Kale.
5o01.oo. Asparagus, per dos, TS02eo.
Spinach, per bbl., 1,000I.So.
The Washington times., 1922-06-23
TEXAS COMPANY WILL =.
SUPPLY NAVY GASOLINE

The Texas Company, producers Of
Texaco Petroleum products, has just
been awarded by the, Navy De-
partment the contract for furnish
ing motor and aviation gasoline to
the United States Navy y,for all
naval vessels and navy yards at all
points along, the Atlantic. and Gulf
Coast Seaboard., from Maine to
Texas. The contract is such that
intricate and varied deliveries are
required, including harbor barge,
tank car, tank wagon, drums, cans
and cases. ~: 's-'h
The ports of, delivery include
Portland, Boston. Providence, New
York. Charleston, Savannah, Jack
sonville, New Orleans, and many
others. The Texas .Company's great
facilities for distribution make It
possible for II to comply with the
Navy's requirements Tor delivery.
The Washington times., 1922-06-23
GERMANYSEEN
BARRED OUT BY.
c. 0. P. TARIFF
Senator Hitchcock Declares
Chief Object Of lmpost Is to
Ban Teuton Industry.
By j. BART CAMPBELL,
International NeMs Service.

A commercial blockade against
Germany "to make II utterly impos-
sible for German goods to be sold In
this country" is one Of the chief
objects Of the McCumber tariff bill.
Senator Hitchcock Dem) OF Ne
Calls Rate Embargo.
Senator Hitchcock declared the
duties imposed by the bill upon
German imports amounted virtual.
ly to an embargo" and were. in
tended for the benefit Of favored
industries in this country which
will thereby be given an oppor-
tunity to raise their prices ard in
crease the cost, of living to the
American consumer.
This iniquitous and preposterous
high tariff bill is not framed or
proposed for the purpose Of rails
ing revenue. Practically speaking.
the existing Simmons-U Underwood
law will raise as much revenue for
the national treasury as the pro-
posed McCumber bill: In each case
the revenue raised will amount to
something more than $500, 900 900 q
year and something less than $780,
600 900.
1.-THE real purpose of the bill is
to shut out imports in many COM
modities and give a monopoly to
favored manufacturers SO that they
can raise prices at the expense of
the, American consumer.
From a combined export ana
import trade Of about $T3 900. .000,-
600 a year, our international COM
merce has in two years shrunk
to less than one-hah Of that
amount. This shrinkage more than
any other single cause is respon-
sible for the present widespread
depression in the United States.
Because of this falling off Of COM
merce three-fourths Of our great mer-
chant marine is idle and the rest
is operated at a loss.
Instead Of making It easy for
other countries to pay in products so
that they can buy our cattle, meats,
wheat, corn, copper and oil, IL Is pro-
posed in this bill by raising the tariff
to reduce the amount of our imports.
Inevitably the reduction Of i'm
ports by high tariffs will be the re-
duciton of exports also and this
means protracted depression.
THE only country with which our
commerce Is improving is Germany
and so this bill seems to be particu-
larly aimed at checking our COM
merce with that country.
The Washington times., 1922-06-23

Although 1t was stated that moth
Ing official has yet come before the
Federal Reserve Board beyond a
request for an opinion relative to a
reduction in the rate asked for by
the Federal, Reserve Bank of San
Francisco.
It Is believed, however. that other
banks now having the AZ per cent
rate will cut to 4 per cent, In which
eyent 1t is thought that the Western
districts, now at per cent, would
FOLLOW the general trend and cut to
& per cent.
The action of the banks in lower
Ing the redisoount rate is not ex-
pected to have any material effect
upon trade or speculation in the
opinion OF Treasury officials. Sec-
retary Mellon is Of the opinion that
the state Of the money market is
such that the reduction of the rate
will not bring about appreciably
changed conditions.
The Washington times., 1922-06-23
SHIPPING BOARD LOSES
$2,66o,4s6 DURING MAY

It cost the United States $2.660,-
1861 to operate the vessels Of the
United States Shipping Beard in
May in excess of income. .nel
The estimated maximurn cost Of
the proposed subsidy to American
shipping under the pending bill is
$50, 900, 900, the first year. The esti.
mated cost has been estimated as
low as SIS, ZOO. 900 the first year.
Chairman Albert d. Lasker today
estimated that the total cost Of
operating the fleet in excess of In
come, for the year 1922, win be
$40, ,000, 900. !. :
before the present Shipping Board
was organized the deficit approx.
mated ,,s11o, 10000 q year" said
Iasl<er. ~ ri 20, x.fS .. !
The Washington times., 1922-06-23

Copyright. 1899, BY Cosmopolitan News
NEW YORK, June 23.-One Of
the most important periods in the
progress of the bond market is the
mid sumner reinvestment period.
which is ushered in shortly after the
first OF July. On this date a large
number of municipal. Industrial and
public utility bond issues will ma
ture and. in addition to the heavy
payments which the principal there
Of will entail, investors will receive
q considerable sum in the form of
payments Of bond coupons, register
ed bonds interest payments, divi.
dends. etc.
Most Of these payments will be
in the hands Of investors but a very
short period. and will soon pe find
ing their way to the investment
market seeking profitable employ
ment. Investment bankers report
that they have been flooded with in
quiries for new investments during
the past few weeks. and that they
are getting in readiness for a rec
ord business Immediately after the
Glorious Fourth. They report a heavy
inquiry for municipal and tax.exempt
securities. and will be taxed to
capacity to fill all their orders in
this classification.
The Washington times., 1922-06-23
U. s. COTTON EXPORTS
(, FALL DURING PAST YEAR

American exports OF raw cotton
IN May totalled 4es.ss7 bales, valued
at s4S,sso111, as compared with
477,sse bales, vaiuedhat Sso,e4o.0es,
shippsd abroad during May last year.
the Commerce Dspartment an
nIsHsee Rs~ cotton seony yaspor.s. Tor IN. eleven
rnonths ended with My were $685.
7e2 baics, valued AZ tbts.ssI.ss4 as
compared with t.s1s.sts bales valued
at ttes.eee.f<s cxrcrted during the
correspendins psriod jast pear.
The Washington times., 1922-06-23
I Foreign Exchange.

NEW 1Ofth, Juhe zs'--StefIirB,
demand, 4.41 " cables, 4.41M. French
francs, demand, S.54h; cables. S.55.
Lire, demand. 4.75h: cables. 4.7e.
Belgian francs, demand, s.09h; ca.
bles, $40. Marks, demand and ca
bles, SOY. Drachmas, demand, 4.21,
cables, 4.23. Swiss francs. demanI,
1S.s4; cables, 1895. Guilders, de-
mand. 81. as; cables. $3.50. Pesetas,
demand, 1856; cables, 1853. Sweden
kronen, demand, 25!5s; cables. 25.6s.
Norway krohen, demand. 1916; ca
bles. 1850. Denmark kronen. de-
mand, 21.s5; cables. 1.40.,
The Washington times., 1922-06-23
Children Give Church Gong.

With the proceeds of the sales of
the Baltimore Catholic" Review, the
little colored boys of st. Augustine's
Church have purchased cassocks for
the sanctuary boys and a gong which
is used at the mass. Inscribed on
the gong is ITO the Memory of James
Cardinal Gibbons"
The Washington times., 1922-06-23
ADgSSssga4s EEAHHgRa BUSINESS AN D FIN N c E. OFF
MARKET COMMENT
tcopyright. 1922. by Cosmopolitan News
Servics.) .

Servics.) "
NEW YORK, June 23.-It would
be presumptuous for a mere outsider
to venture q hazard as to the real
value Of share of the common stock
OF the Mexican Petroleum Company.
But there can be only one opinion as
to the demoralizing effect Of the gy-
rations of this stock in the market
during the past week; and 1t IL not
surprising that the committee of
business conduct of the New York
stock exchange has undertaken an
Investigation Of the matter. Theo-
retically. the stock exchange Is an
institution designed to furnish q
liquid market for the securities of
representative enterprises and to
furnish a medium through which
American investors employ their sur
plus funds in the expansion Of these
enterprises. AS a matter of fact,
however, a large proportion of the
daily transactions are nothing more
than pure gambling, with the odds
against the public.
The bulls had their innings last
year when, after the circulation of a
false rumor that Mexican Petroleum
had passed its dividend, an investiga-
ton was ordered by the stock ex-
change. The shoe now pinchcs on
the other foot and the investigation
swings to the bull corner. The
names Of q number of prominent
traders have been mentioned In con-
| nection with the investigation. Play
ing with a stock like Mexican Petrol
cum is not for the small fry, but is
distinctly a rich mans pastime.
incidentally. the governors Of the
stock exchange will also perform q
public service in pursuing to a
finish their investigation of the
financial stability Of stock exchange
firms which are catering largely to
the general public. A question
naire has been addressed by the
exchange to its members requesting
data that will disclose any. weak
nesses that may. exist in their
makeup. In the recent months
there has been a large increase In
the so-called odd Jot business of the
exchange, that Is. dealing in les.
than 100 shares; and 1t is com
monty stated that the demands from
odd.lot sources have often acted as
balance wheel in a falling market
While the wave Of failures OF
brokerage houses has subsided, Wall
Street is sympathetic to any action
that will add stability to the me
chanism Of stock trading.
No satisfactory results can be
looked for in European rehabilia
ton until Russia is on her feet, and
the Russian problem still presents
| difficulties that at present seem not
far from insurmountable, according
to Samuel M. Vauclain, president
Of the Baldwin Locomotive Works
who had just concluded an exhaust
ing survey of conditions on the
other side. Russia and Germany
says Mr.. Vauclain, will continue tc
hamper the re-adjustment processes
Of Europe until they are taker
care Of. and there is no way oi
getting around that fact. The well
being Of Europe also demands tha,
Germany pay her reparations and
keep her engagements. and she
must be made to do this. Prompt
payments of the reparations will
do much to clear things up gen
orally and place things on a soundel
basis. European railroads are fac
ing a problem the exact inverse Of
ours.
The Washington times., 1922-06-23
Cotton Market.

NEW YORK, June 23.-The cotton
market was irregular at the opening
today. July sold at 22.40, up D; Octo-
ber. 22.41,- up 8; December, 22.20, up
/. January 22.o7, OFF 1; March. 21.92;
May; Exit. " B.. ~. .t..
The Washington times., 1922-06-23
Business Revival Gaining.

I, The general trend of business
throughout the country continued to
gain ground during the past month,
according to reports received by the
Department Of Commerce.
Among the favorable features par
ticularly mentioned are continued
Increase in the iron and steel indus
Try, which Is now operating above
the pre-war level: sustained activ-
tty In the building industry, which
continues to make new high records
each month; marked increase IN the
production Of automobiles and
trucks: lower interest rates and in.
creasing demand for money; in
crease in employment and decline of
business failures, with further in
creases in the price Of all classes
OF securities. Even the textile in
uustry, which has been somewhat
backward in recent months, showed
excellent activity during the pass
month, the report shows.
The decline in business failures is
regarded as particularly significant
1t was the first time in months that
q decrease rather than an increase
was recorded. The total dropped
from 2,167 in April to 1850 in May.
liabilities falling from $73,O59, 900 to
$44, ,403, 900. The latter figure Is the
lowest since last September.
The Washington times., 1922-06-23

The Daily and Sunday Times win
be your most congenial friend on
your vacation. Give your order to-
day to have II sent to you; 95 cents
q month or $3.50 for three months.
The Washington times., 1922-06-23
HUNGARIAN POLITICAL
QUARTERS ARE BOMBED

VIENNA. June 2s.--The head
quarters OF the Young Hungarian
party at Budapest were blown up
by q bomb today and one person
was killed. i, 3 ~
The Washington times., 1922-06-23
local Sto0kA
Sales.

Sales.
Washington Gas TVS. $5ooQ1o6.
Washington Railwoy & Electric
COM. 1O@49h, 10@49h. 10Q9h'
10@491s, 1o@491s. 10Q49h, 10Q4sh'
10Q49h, 1OQ49a, 10@49h, 10Q49h.
Mergenthaler Linotype, 3Q1boh'
After Call.
Potomac Electric deb: 6's. $2.oooQ
9s%. -, oooa
96h. =.
Money,
>N, e@e.0artc can't .-
The Washington times., 1922-06-23

You win enjoy your vacation an
the moro n you get The WasI,lngton
Times regularly NJ your mount ain
or scsshore resort. Order n todny-
ss cents . month o. s1.Se for three
months.
The Washington times., 1922-06-23
Other Reserve Banks
!. Expected To CutRates
Reduction of Rediscount Rates by New York
{. and Boston Banks Will Likely Be Fol-
IsfH lowed by Rest of Reserve Banks.
BY HARRY, GUSACK.

Reduction of redscount rates by the Federal Reserve Banks
Of New York and Boston from Az to cent will prob
ably be followed by similar reductions by the other
banks according opinions expressed today by Treasury
officials. ~ =
The Washington times., 1922-06-23
Bank Dividends Declared.

The board of directors of the
Washington Mechanics Savings
Bank have declared the regular quar-
terly dividend Of per cent and
per cent extra, payable July l. TO
stockholders Of record Of June 80.
At the regular meeting the
board Of directors. held June 81, Mr..
A. 8. Offutt was elected assistant
cashier. Mr.. Offutt is a brother Of
Mr.. Hilleary L. Offutt, Jr., cashier Of
the District National Bank.
At q regular meeting Of the hoard
OF directors Of the Liberty National
Bank of Washington, D. c.. held
June %. 1922, a dividend of SO rer
share on the capital stock OF the
bank was declared, payable July 1,
1922, to stockholders of record nj
close Of business June 27, 1922.
Transfer books win not be closed.
Announcement was made TINT $50.
e00.was added to surplus.
The Washington times., 1922-06-23
ON
PUBLIC. BONDS
DUE IN JULY
Large Number Of Municipal,
Industrial and Public Utility
Bonds Mature Next Month.
By MUNROE ROBERTS,

1899. by Cosmopolitan News
SerYice.l