davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-02-08
DETROIT UNITED NOW
IN CANADIAN CONTROL
Way Open for Reorganization
of Road.

SPeGdE DiSp1tch to THE New YoRK Hpv.,n
DETROIT, Feb. 7.-Shifting of contro,
or the Detroit United Railway fron,
american to Canadian stockholders tool,
place on Tuesday. when 92.242 shares
Oh Canadian stock were voted against
4o'fzz American shares. which gave the
canadians seven of it's eleven directors
thus insuring control of its policies and
paving the way for a complete reorgan nj
zation
The election of the new board was
leaily dominated by A. A. Gingras.
Montreal capitalist, who held most oT
the majority factions stock. He bronpbt
ABOUT the election of himself and six
other Montreal and Ottawa stockholders
TO the directorate.
lt is said that the move on the mart
OF he Canadian stockholders is really to
put the companys affairs in shane to
prinS about a speedy settlement with the
city OF Detroit on the purchase of the
local lines. 1t is expected that radical
oAanges will follow. and include removal
from the company's payrolls of at lea
Tour high salaried officials.
immediately after the opening of the
meeting Mayor Couzens, who attended as
a stockholder, having bought a share of
STOCK Tor that purpose, read a communi-
cation In which he offered the company
sl6.oO0,00O for the city lines not included
In the day TO day agreement He told
the stockholders that they could dispose
OF their city property to the city during
this month and obtain more for 1t than
they could ever hope to gain in the
future.
He gave the company until March 81
TO meet the city's demand OF face re-
moval of its tracks in Fort street and
Woodward avenue.
The New York herald., 1922-02-08
BANKRUPTCY PETITION
FOR u. S. FOOD PRODUCTS
Volstead Act Said to Have
Badly Hurt Corporation.

An involuntary petition in bankruptcy
was flied yesterday in the United States
District Court against the United States
Food Products Corporation of % Broad
way. A statement published by the
company on December 81, 1920, gave the
assets as S51,312,1S7, and the liabilities
as s$O.774,1S0.
Creditors joining in the petition in
clude Slosson &c Smyth, insurance bro
kers. 81 William street. who claim S720
paid for insurance premiums and not
taken up by the debtor The petition
alleges that the defendant corporation
made payments TO certain creditors
without any consideration other than
previous Indebtedness"
The United States Food Products Cor
poration was organized in 1919 with
capital OF $4,000. 1t has plant at
Peoria, ILL.,, for the manufacture OF
syrups. molasses. preserved fruits. soft
drinks. yeast, &C. The plant is said to
be worth s40,000,000. The Volstead act
is said to have involved the company
in difficulties necessitating the liquida-
ton of its distilery and liquor branches.
George G.. Palmer Is president OF the
defendant corporation. For some time
its affairs have been in the hands OF an
advisory committee Of bankers. Accord
ing to published lists. Alvin w. Krech
president of the Equitable Trust Com
pany of New York, is chairman OF the
board of directors.
The protective committee representing
the holders of the s5.500.000 outstand-
ing > per cent. gold bonds of the Dis
tillers Securities Corporation, which be-
came the United States Food Products
Corporation. issued a warning yesterday
to these holders that in view OF the
present receivership proceedings action
should be taken TO protect their inter-
ests. The committee pointed out that 1t
is probable a conflict of interests Will
result between the holders of these obli-
cations and the obligations issued by
the United States Food Products Cor
poration under its trust agreement of
September 2 of last year. IF the obli-
cations issued under this last instru-
| ment are valid" the warning sets forth,
"the value OF the first mortgage con-
vertible gold bonds will be seriously
affected"
The business was established in 1902
as the Distilleries Securities Corpora
ton. Since the organization, it Is said.
the corporation obtained control of a
large number of corporations, including
many leading dsti!leries 1t also got
control Of the Sugar Products Corpora
tion. which was placed in the hands of
receiver on January 13 last.
The Food Products Corporation was
organized under that name in 1919, with
an authorized capital stock OF $50 900.
The New York herald., 1922-02-08
STOCK TO BE DECREASED.

The New York Stock Exchange has
been notified by Montgomery Ward &
CO. of proposed decrease in its pre-
ferred stock from SIC. 10000 to S4.249.-
500, decrease of $4,000 shares in its
Class b stock and the change in its
common stock from 1.2S5.000 shares OF
no par value to s12.S5o, 900 OF $40 par
value. Listing applications have been
received by the Exchange for the fol-
lowing securities:
Virginia Railway and Power Com
pany S50S,S00 additional of per cent.
non-cumulative preferred stock. Vir.
ginia Iron, Coal and Coke Company
s5.00o,000 OF preferred stock; For,
Worth and Denver City Railway Com
pany, $S,176,0o0 Of first mortgage per
cent. bonds; South Porto Rico Sugar
Company. 100000 900 Of 20 year first col
lateral mortgage per cent sinking fund
bonds. and George w. Helne Company
$2.000,000 OF common stock.
The New York herald., 1922-02-08
ATCHISON TO SPEND
S4S,t5O,OOO IN 1922
Money Will Be Devoted to I'm
pr0vements and New
Equipment.

! The Atchison. Topeka and Santa Fe
Railway will spend S4s.15O,o0O for i'm
provements and new equipment in 1922,
/ w. h. Storey. it's president. announced
yesterday at the close OF the company 5
regular monthly board meeting or this
he said s11 900. 900 represents carry
over from last year on work authorized
but not done. He believes that the
same amount will likely be carried over
from this year, with the probable result
that only S32.000000 or $4,000. 900 OF
the total will be actually expended in
1922
Mr. Storey said the foregoing eXpendi-
ture would require no new financing, as
the company has a substantial amount
of cash and Liberty bonds in it's treas
ury and a reasonable amount will also
be provided from current earnings. He
said the roads requirements were such
that $60.000,000 annually should be
spent for the next three years.
The 1922 outlay includes 11.750, 900 for
the completion of betterments already
begun; $22.000.000 for new work. in
cludins 10 miles of new second track in
Arizona; $1.4Oo. 900 for a new fifty five
mile line leading west from Santata,
Kan. $S,000,000 for new equipment !:
S6,662,236 for additional maintenance.
and sums of S1.5o0.000 or less for such
items as bridges, trestles, culverts. sta
tions, office buildings. yard tracks
sldings, signals, shop machines. tools
ana assessments for public improve
ments.
Mr.. Storey said that the citrus fruit
crop in California, which is a profitable
source OF revenue for the Atchison. had
been severely damaged by freezing and
tnat the winter wheat crops of western
Kansas and the Panhandle section of
IeXas were unpromising on account of
the drought last fall
The New York herald., 1922-02-08
N. Y. TELEPHONE EARNS
LESS THAN 4 PER CENT.
Chief Accountant Testifies al
p. S. C.. Hearing.

Net earnings Of the New York Tele-
phone Company for its business in New
York State in 1921 were ss,462,071, o.
less than per cent. on the book value
of its property, according to the testi-
mony of II. A. Trax, chief accountant
OF the company, before the Public Serv-
ice Commission yesterday.
The hearing is being conducted on tie
State wide basis rather than to conduct
separate rate hearings in individual
communities. Commissioner Blakeslee
explained. This is new in New York
state, but has been followed in New
Jersey Pennsylvania, Maryland, Wis
consin, Georgia and other States.
Total revenues of the company in the
state in 1921 were sS0.SS0,393. while
the expenses were s72,41S.321. The ac-
countant estimated revenue for 1922 as
SS9, ,976.000 expenses as sS1 1851, 500.
with q profit of s9,194,500. which would
mean q return of about 1886 per cent.
on q book valuation of $252.000, 900, he
oaid.
The telephone company expect In
1929 a revenue of $14,310, 900 from toll
messages originating in New York State
and carried over The companys lines, as
compared with S12,SS2,547 actual rev.
eIlue IN lSNl. FROM long DISTANCE mes
cages originating I'm the company's ter
ritory but handled over the lines OF the
American Telephone and Telegraph Com
pany, che revenue in 1921 was s10.-
165.191. az compared with an estimated
revenue of st0,e50.000 for 1922.
w. +. Crowell, general publicity man
sger, testified that the Western Electric
Company furnished the paper and cover
stock for the telephone directories and
took gneral supervision of the printing
on basis Of per cent. plus cost. He
told OF the savings that had been made
in using lighter paper and different type.
Even so. the cost was s1263.60 more
now than in 1917
The New York herald., 1922-02-08
DANISH BANKS CONSOLIDATE.
Two Institutions In Copenhagen to
Re Merged.

The Danske Landmandsbank of Co.
penha gen has declared for 1921 a 10
per cent dividend. It's gross profits. in
Guiding 16.S50.532 kroner carried for
ward from last year. amounted 20 6I.-
52i,66i kroner. less 17.s45,507 kroner
for general expenses and taxes After
providing for bad and doubtful debts Of
25.S67,937 kroner and statutory contri-
button 10 reserves, 9.614909 kroner
were carried forward Its reserves are
now 50,769 230 kroner.
Subject to general meeting Of its
stockholders the bank has entered into
an agreement with the kjoebenhavns
Private Laaenbank. the oldest Copen-
hagen bank and established in 1854. by
which the two institutions will he ANAL
gamated. according to cable received
by Brovn Bros & Co.
The New York herald., 1922-02-08
INTENSIVE ARMY TRAINING,

Regular army troops in and near New
York will be used this summer in the
most intensive training the National
Guard and Reserve Corps of the army
have ever been given. Plans for this
training were contained In orders re-
ceived yesterday at Governors Island
from the War Department. Throughout
the various corps areas 10000 National
Cuardsmen and 10000 reserve officers
will be trained. and in addition to these
10000 members OF the Reserve officers
Training Corps and $1,000 civilians will
be taken into the schools. This year the
entire guard will be trained as unit.
The New York herald., 1922-02-08
ITALIAN GOVERNMENT
COLLECTIONS INCREASE
Second Half of 1921 Is Craft
flying, Says Report.

The Italian Government Commission,
2s1 Broadway. received cablegram
from the Minister OF Commerce In Italy
yesterday which showed that, despite I'm
different world business conditions, the
Governments tax collections expanded
in the second half OF 1921. The italian
Treasury receipts in the six months
ended December 81 (the first half OF
the fiscal year, were 1900. 600. 900 lire
larger than in the same period OF 1920.
The principal sources OF income pro-
ducing this growth were: Direct taxes.
o20.000000 lire: taxes on business
transactions. 1s5.O00.O 900 lire, and re-
ceipts from industrial monopoies. 215.-
600, 600 lire
The New York herald., 1922-02-08
REMOVE LINCOLN MOTOR ISSUE,

DETROIT. Feb. THE governors of the
Detroit Stock Exchange removed to-day
the Lincoln Motor Company class A
stock from the exchange. The action
was taken. IL was announced, because
the sS,Oo0,0o0 paid for the property by
Henry Ford was not sufficient TO meet
liabilities OF the company. and, there
fore. no money would be forthcoming
for distribution among stockholders.
The New York herald., 1922-02-08
4. b. HEPBURN EULOGIzED.

The directors OF the American Car
and Foundry Company adopted yester-
day resolutions of respect to the memory
OF the late A. Barton Hepburn. member
OF its board from 1907 until his death.
w. II. woodin, president of the COM
pany, addressed the directors. eulogiz-
ing Mr.. Hepburn and praising his work.
The New York herald., 1922-02-08
REDUCES NET LOSS IN 1921.
American Hide and Leather Cuts
Final Deficit to S55O.os-.

The American Hide and Leather Com
pany suffered in 1921 net loss of s261, ,42s.
after charging off $4,000 of inventory
Losses and a final deficit OF $3.50. 20
after charges and depreciation in con-
trast to a deficit OF S7.2S0.9S6 i'm 1920. ac-
cording to q compilation OF figures made
from its four quarterly reports OF 1921
The following table compares the chief
figures Of its income accounts or 1921
-.
The New York herald., 1922-02-08
100000 IN POTATOES BURN.

MAPLEToH. Me-, Feb. TEN potato
houses containing $4,000 barrels of po-
tatoes were burned here to-day. The
loss was estimated at 100000. Many
OF the owners were without insurance.
The New York herald., 1922-02-08

In The final quarter OF 1921 the COM
pany's net profits were s2sS,S47. after re-
pairs, interest. taxes. &C. and it's sur
plus S207. col. after deprecia tion. in con-
trast to a surplus OF s2o0.sso in the pre-
ceding quarter and deficit OF s5.315 $50
in the corresponding quarter of 1929
The New York herald., 1922-02-08
MONEY MARKET.
TIME LOANS.
COMMERCIAL PAeER.
pest names, 20 Q months. s................
Dther names. 4 10 G months. s.............
DISCOUNT RATES. RESERVE BANK.

Commercial paper. 'f5 days. ~; 90 TO et
davs. ~; Liberty bonds and Victory notes
n DAYS, ~: 10 TO 90 days. Az bankers
scceptances, IL TO 90 days. ~.
sIsixed November .. Previous rate, 5
The New York herald., 1922-02-08
orE~ MARKET RATES.

cali loans and acceptance. ............ 4ikes
Diacount rates on prime bankers accept
aness eligible for purchase by Federal r,e-
serve banks
Bid. Ask Bid. Ask
The New York herald., 1922-02-08
UNITED STATES TREASURY STATEMENT

Special Dispatch 10 Tup NEW YcsK HERALD
New Yor Herald Bureau.
Washington. u. G.. Feb. !.
The New York herald., 1922-02-08
DIVIDENDS.

stock OF Pay
Record able.
Hartman CorLn q, Si.T5.. Feb. ~ Mar I
Holl Cousol Mines. Ltd, &c. Feb. 10 FEB. 25
Quaker Oats Co. O. pf. si.J0.May 7 May 81
sharp Mfg Co. q. s2....... Feb. Feb. II
The New York herald., 1922-02-08

$e,80O,000
0regon-W Washington Railroad & Navigation Go.
First& Refunding Mortgage ~ Gold Bonds
Due January
Pincipa andIn Intere unco
interest m s:" ss xs ss$s only
"*sl7s s@ss outstanding % @ r % % % ssa h ""
Work ksWe Exchange.
Railroad Nasn an integral part Of the Union e
Of
ahoad Company applicable to bd w h en mo-
mna6ueIs
o he
dhseb vetme
Price 7eK and interest, yielding $50 cent
Complete rcMn rpuS
Harrs Forbe The National City Co
Guaran Comp Of New York kinncutt &
White, Clark, Dodge & Co
The New York herald., 1922-02-08
OILS.

OIL CITY, Feb. 1.--Credit balances s3.25.
Runs ~ ,e1e Average 42,9i6. Shipments
I5, i53: Average 3o,osi
The New York herald., 1922-02-08
$2,00O,O00
Ozark Power & Water Company
(BransOn, Mo-,


First Mortgage Sinking Fund SO Gold Bonds
Dated March l, 1912 Maturing March ], 1852
Authorized, $6,ooo,o0O Outstanding, 1000 900
Tax Reundabe in Pennsylvania and Maryland
Interest payable / September
the New York City, without deduction
for Normal Federal Income Tax not exceeding 2 Coupon
registerabe principal denomination of $1,000
Caabe whole part interest date at los and
crued interest
These Bonds secured by first lien all property
OF the Company now owned, or which may hereafter
electric generating station, transmission lines and
other
Company furnishes electric energy under advan-
tageous long Springfield Gas &
Electric Company Springfield Mo-, and to other
porations and communities, and has reciprocal
tract with Empire District Electric Company
These First Mortgage SO Sinking Fund Gold Bonds
issued under direction and by authority of the
Public Service Commission of Missouri, consent of
which be obtained to issue any additional First
Mortgage Bonds.
Sinking Fund beginning March l., 1922, requires
purchase of 10 of the total principal of Bonds
issued and outstanding each year investment by the
Company in construction in the acquiring of addi-
tiona property amount double the sinking fund
payments from time to time provided for.
Management of Ozark Power & Water Company
is under Henry l.. Doherty Company, operators and
managers, of Cities Service Company and subsidiaries
Price 70 and interest
Henry L. Doherty & Company
Bond Department
The New York herald., 1922-02-08

Executor Trustee
Chartered 1922
The Farmers Loan and Trust Company
Nos l6 l8, 20 & % William Street
Branch Office, AIS Fifth Avenue
At Forty-6rst Street
New York
London Paris
Foreign Exchange
Administrator Guardian
Member Federal Reserve System and New York Clearing House
The New York herald., 1922-02-08

SILVER MARKET.

Clearing IIoufe exchange, tTt5, 200 600. be
auccs SIS. 600 900 Federal Reserve credit
haianccs et9. GOO 600
The New York herald., 1922-02-08

official bar silver in New York. domestic,
oosss unchanged. foreign. 6Jtsc. off asc
London. S4ssd.. off I'd. Mexican dollars
bOc. Off ikc.
The range OF silver prices this year:
Highest. Lowest
London ........ 3JiSd., Ian. 2 aikd., Jan. z
New York ... s69sc.. Jan. 10 6fisc.. Jan. .
The New York herald., 1922-02-08

bursomen Treasury july included
The labor journal. [volume] (Everett, Wash.) 1909-1976, 1922-11-17
Washington Miners Still On Strike
FEDERATION NEWS
Avalanche of Labor and Progressive
Votes Sends Poindexter to Scrap Heap

(By VIM. Short President Washington Labor
In avalanche of labor and that struck to
the heart of the "O Guard and the political the state
Miles PondeXter
him all of vouy ntiabo policies he
has stood for His defeat records the triumph achieved
the polls the organized labor
Our state the only that taught the of labor
unforgettabe North
gress justice.
The American Federation of Labor sweeping victory
candidates successfully elected
labor
legislative
reasonably be hoped for
O.
this confronted with
the natOnMes PondeXter-backed by
the the
directed political organization that has rarely suf
combination
weorganized split
labor the
policy pursued by the labor body
II TO the intelligence the overwhelming majority Of
thing sought by he labor and
and the election
labor Federation head
quarters local unions and individuals
congratulations
for the victory has been achieved.
The labor journal. [volume] (Everett, Wash.) 1909-1976, 1922-11-17
REMEMBER, DEMAND THE LABEL
WHEN BUYING XMAS PRESENTS
(By JOHN j. MANNING
Secretary Treasurer Union Label Trades Department

During this of the is or less interested in
shopping will be This
thought they realize
golden their Christmas for the products
of organized labor.
Cigars cigarettes writing slippers collars shirts
gloves, hosiery belts neces all be
label, acceptable gifts.
Father need overcoa, ranoat hat pair of
his need watch for his look of pleasure when he
union label That will make the gift douby him.
Brother long for travelling bag musical
kind Many housewives would appreciate
The thrifty houkeeper would appreciate
A unonmad table will longfelt
of
In making all purchases patronage should be given those
employing union clerks and drivers.
Many churches orchestra the choir Christmas
have the trade spirit will that
engaged by those in charge.
that all Christmas printed
Printing appears
them
Should of the Christmas entertainments include refresh
bread cake drinks by
union waiter.
By carrying out these suggestions will make it merry Christ
fellow labor
the organized workers will be
employed.
The labor journal. [volume] (Everett, Wash.) 1909-1976, 1922-11-17
FORMER OFFICER
URGES UNI0NIST
TO ASSIST MINERS

Robert H. Harlin, former dis
trict president Of the Washing
ton Miners, when visiting in
Everett last Wednesday, said
the Washington miners are still
on strike and need the assist
lance Of all union members, not
only financially, but also NOR
ally. A movement is on foot,
headed by Brother Harlin to in
troduce union mined coal in ev-
ery town Of the state at lower
prices than are now paid for
sca5 coal.
Mr. HarIin asks all members
Of organized labor to buy union
mined coal and, if possible,
through their organizations,
help financially.
The labor journal. [volume] (Everett, Wash.) 1909-1976, 1922-11-17
THE STORY OF 4
LAWYERS UNION
BY SAMUEL GOMPERS IN
THE AMERICAN FED
ERATIONIST

1t has long been known that the
illegal fraternity" as it is called,
operates one of the most effective
closed shops in existence. Lawyers
have been even more successful IN
protecting their field Of operations
than doctors. for there have been IN
late wears. some notable incurslOns
into the field of medical practice.
The lawyers, however, have mann
tained their sphere intact. The lat
est example of lawyer efficiency in
this direction comes from California
where the state supreme court has
Just rendered a decision prohibiting
the selling of legal advice and serv-
ices 81 corporation. In southern
California a corporation had been
organized to retail legal advice and
service at a flat rate of SO per
wear per client. Available infOrma-
ton does not show whether this
corporation was organized by law
yers or by others. The organized
lawyers Of San Diego, however, sow
in the corporation idea a menace to
their occupation and they promptly
brought action against it. The su-
Derior court up held the San Diego
lawyers anu lllG sup SitlN NNHAS ~
the state sustained the decision of
the superior court.
The supreme court held that the
corporation itself could not secure a
license to practice law and that it
may act only in an intermediate ca
pacity between attorneys and clients
or between attorneys and persons
seeking their service.
The supreme court does not des-
troy the existence of the corporation
but it holds that the corporation
must employ attorneys to handle
matters of law in which subscribers
or clients may be involved.
Evidently those responsible for or
ganizing the corporation believed
that there was a profitable field in
the business of retailing legal advice
on a large scale at a low rate.
Once again the lawyers have
demonstrated their skill and ability
in protecting their profession not
only against incursions by those who
have not served a sufficient appren-
ticeship but by those who would in
addition cut rates and reduce the
wage scale.
1t is interesting to note that in
their efforts to protect their inter
ests the lawyers of San Diego did
not act separately and as individ-
uals. They acted as a unit through
their organization. Even those law
yers who are most ardent in their
The labor journal. [volume] (Everett, Wash.) 1909-1976, 1922-11-17
GOMPERS PLEASED
WITH WASH. VOTE

"W. M. Short.
president State Federation of Labor,
Seattle, Wash.
"Please extend congratulations of
the American Federation of Labor
and the undersigned to the workers
of Washington on the defeat of SEN
ator Poindexter and the election OF
Dill to be his successor. Through
their splendid efforts the workers
and the other justice and freedom
loving people Of Washington have
performed effective service in bring
ing that state into the long column
of states which on election day gave
such an impressive verdict in favor
of the progressive, constructive and
humanitarian principles for which
the American Federation of Labor
contends.
(Signed) SAMUEL GOMPERS,
president American Federation of
Labor"
The labor journal. [volume] (Everett, Wash.) 1909-1976, 1922-11-17
UNION MINED COAL TO BE- SOLD
IN EVERETT AT LOWER PRICES

Two we'll known Union Robert H. Harn former dis
trct president of the Washington Miners and Harry DAHL the
we'll secretary of the Seattle Teamsters Union
Producing real union mined coal into Everett The coal will be
sold lower price, according to the ntroducers. The price
will be less than $40 per ton delivered at the homes
In the next weeks Journal will announced
this coal can be ordered.
The coal is mined in the Bucoda mine
Bucoda mine is in Thurson County The mine de-
veloped by Jim Bagey inspector
Governor Lister for years.
under signed wage agreement with the Miners
Union and every tons Of Bucoda coal sold days work
for a union miner.
This union mined coal has been introduced at Belngham
where it being sold in competition with Belng-
ham coal right at the door of the Belingham mine
coal giving every satisfaction especially because is
extremely low in ash and steady lasting heat The
just about year old and is being rapidly developed
point where it give employment to large number of the
idle union coal miners of the state.