davidaulloa/AmericanStories huggingface dataset:
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09

tative is said TO have promised
that the advance shall cease ahG
that the incident will not be repeat
ed.
As measure Of protection for
Constantinople, General Harrington
ordered suspension of ferry serv-
ice across the Bosphorus and the
Sea of Marmora. There are to be
1850 Christians now in the lsmid
zone outside the British lines, While
many thousands more are within
the lines, having been removed 10
camp at Moda, directly across
from Constantinople.
M0bammed vi on Throne.
Although the Greek government
has accepted the inevitable. ac-
ouiescing in the evacuation Of east
ern Thrace, reports from Athens
and Thrace indicated uncertainty
regarding the attitude Of section
of the army.
The Turkish sultan Mohammed
vi is still on the throne despite the
report of his abdication received
by the Russian trade delegation
here Saturday. Efforts are now
under way to bring about a recon-
citation between Mohammed VI
and the victorious Nationalist ana
an emissary is being sent to Con
stantinople to inform the Angofa
army that the sultan is prepared 10
recognize the legitimacy Of the Ma
tionalists' assembly.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
Bond Market
GEORGE z. HUGHES
tCopyTight. 1879

New York, Oct 9.-Three fea-
lures stood out in the bond mar
ket OF today. First, Of course, of
course, was the new liberty loar.
The terms offered by the treasury
were regarded as extremely at.
tractive, perhaps more SO than Ak
pected. A.4A per cent isue NOE
callable for Is years 1t was pre-
dicted, would prove in demand
among all classes of investors. The
success of the offering was deemed
assured. Relatively, the new bond
seemed likely to be more popular
than the older issues of shorter
term. On the curb a premium was
bid of as much as half point
above par for the new bonds on
when issued basis. Trading in the
old issues was not particularly
brisk and prices ranged around Pc
for all the Az bonds. Naturally
the older loans must conform to
the price at which the new bonds
are offered, assuming that the lat
ter are we'll taken. The second
point of interest was the definite
weakness in the high grade rails
and industrials. 1t was evident at
once that if the government could
market a long term issue, particd-
larly tax exempt, on 4.25 per cent
basis there was no excuse for en-
entirely taxable security, the obli-
cation of a private corporation,
selling to yield less than Az per
cent. The result was that bonds
such as Atchison general As were
in supply. A sale of this bond was
made at 80 against high for the
year of 951s. The same weakness
was observed in securities of a
slightly lower grade, for instance,
American Smelling and Refining
IS, which sold at "a. All this I'M
doubtedly is merely readjustment
to correspond with tn yield on the
new government bonds. At the
same time there was continued
pressure from offerings of financial
institutions which could either fird
a larger yield in real estate mort
cages or have use for funds for
legitimate business demand. In
no case was the lower quotation
any reflection on the standing oil
the debtor corporation.
The third feature Of Importance
was the pronounced strength in 10.
cal fractions as a result of the OF.
fetal announcement of the sue
cess of the PETERBOROUGH RAPID
Transit reorganization plan. TIL.
I. r. T. refunding IS sold up
points in the early trading and the
other and lower grade street rail,
way securities we're all active and
higher. New York Railway re
funding securities were all active
and higher. New York Railway re-
funding As and Third Avenue az.
justment SIS weer instances.
Outside of these three depart
ments the general market was dull
Foreign issues advanced in re,
Spouse to the more favorable ad
vices from abroad.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
FINANCIAL NOTES

The following sold ex-dividend
today: Steel Company of Canada
common and preferred; General
Motors preferred and debentures;
Hanover National bank.
September loadings of CONNER
cial freight during September by
the Chicago, Burlington and Quincy
railroad totaled l79,96S cars as
compared with 1894 in Septem-
Der, 1921.
F. w. Woolworth sales for the
nine months of 1922 were $780,
24S,1S7 as compared with 1921 tot
al of $95,943.327. September sales
were $13,507,391 as against SILL
324,7S6 in 1921.
The New Haven railroad has or
dered five large electric locomo-
tives from the Baldwin Locomotive
works.
A ten percent increase in prices
for its spring output was an
nounced today by the Alexander
Smith Sons Carpet company.
Eight refrigerator vessels and
three passenger liners have been
ordered by firmI not named. from
the Clyde Shipbuilding company.
London cables a great number
OF American steel contracts in Ger
many have been Cancelled as a re-
suit of the new tariff.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
CHOICE STEERS
STEADY;LIGhT
h0cSUP AD|ME
(By the Consolidated Press.)

U. S. Yards, Chicago, Oct. g.
Weather conditions were unfayor.
able. 1t rained during the morn
ing hours and this DELAYED tae
trade. Cattle and hogs supplies
were light, but sheep run was
heavier than expected. Much O;
the range of stock consisted OF
feeders, however. Less than 5000
stale hogs were in the pens. Abou.
$500 sheep were received by big
killers from other trading points
Receipts were estimated at 24oou
cattle, $4,000 hogs, 1000 sheep and
1000 calves.
CATTLE.
Trading was again uneven. Choice
heavy steers sold well at fully
steady values. but the market was
dull for palmer grades. Some .50s
pound steers sold at 1850, but few
went above 1900. Other sales at
11.S5 and 1925 were. about steady.
Feeders were strong, good lots 60
ing at 750@S.0o. Butcher stock
sold slowly at weak prices. but
bulls were in good demand. Calves
were easy. Few choice vealers sold
at 10.25Q1050.
HOGS.
Demand for heavy hogs was slow
but light butchers sold mostly
steady to 10c higher. Other grades
showed little change from the low
time noted last week. Rough pack
ing hogs went at 700@7.25, with
good lots up to S.25. Top light
butchers made 1905.
SHEEP.
Lambs sold mostly steady consid-
ering the fact that the stuff WIS
wet. Some sales of natives we're
called Csc lower. with choice ami
mails at 1880 and good westerns at
1875. Feeders were unevenly low
er. Best lots were placed at 400.
Few ewes were on sale. This trade
was called weak.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
INTEREST Shy
IN wheat PIT;
CORN IN BREAK
(By Consolidated Press.)

Chicago, Oct. 9-Trade in wheat
was undressing most Of the ses-
sion and the undertone was easy.
Higher cables induced little buy
ing at the opening early for COM
mission house and partly for local
account Northwestern houses sold
the wheat on the bulge and this
soon frightened locals into selling
out their wheat. The break in Win
nipeg in face Of the higher Liver
pool market and the increase OF
$500, 900 bushels in supplies on
ocean passage also had a bearish
influence. United States visible
supply increased 266,000 bushels
last week. Supporting orders were
uncovered after a moderate decline
had been recorded. Cash wheat
premiums were unchanged at Chi
cago. Minneapolis and Winnipeg.
Seaboard reported only moderate
business worked in export wheat
overnight. Milling demand is i'm
proving. Receipts; are falling on
and the car shortage is becoming
more acute every day.
Corn was inclined to follow wheat
for a time but good support devel-
oped shortly before midday. The
start was higher on local buying.
Heavy selling of long corn by an
eastern house forced a break btt
locals gave the market support and
this was felt later in the session.
Cash corn premiums were half
cent lower. Visible supply de-
creased 1,244,000 bushels.
Oats were inclined to follow
wheat. Commission houses put
oats in the pit early and there was
cash house selling later. A little
buying developed in sympathy with
corn later. Cash oats premiums
were half cent lower.
| Provisions started higher on buy
ing credited to foreign account.
Wheat market closed B@B low
er; Dec. 1.O7A@b; May 1OsB q
1.O9; July 102h. Corn closed Is
lower to Il higher; Dec. 62A@
"; July GAY. Oats were unchang-
ed, to u lower; Dec. 3SZ@7s; May
39A@7s; July 1885. Lard closed
unchanged to 15c higher and ribs
unchanged.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
TURK ADVANCE
ON CHANAk
IS RESUMED
Continued from First Page.)

weeks old, but already have the
strength of Gibraltar" British
captain, who escorted the Associa-
ted Press correspondent ashore at
Chanak, said proudly.
1t is just three weeks since prep
aration for the defense of Cha
were begun and in that time this
struggling village of white-wallcd
houses has become the center of
one of the most formidable fort
resses in the world. Visible eff
feet Of Great Britain's earnest
preparations for whatever may hap
pen in the near east greets the Wis
itor on all sides, and the officers in
charge, who are all veterans of the
world war, declare that no defen-
sive positions ON the west front
were more impregnable.
Real DefenSes Concealed.
From the harbor where a dozen
freighters and transports swing at
anchor there is little to be seen ex-
cept a few gaunt earthworks and
hospital buildings on the west CT
the town. Here and there a long
earthwork shields a group Of white
tents and the long white highway
which twists across the town ard
disappears among the close-clippetl
hills, dotted with army trucks, mule
wagons and other transports. But
the real defenseS are back from the
town in the Rocky valleys, protect
ed from prying eyes.
The British have landed 200
pieces Of artillery since the W rk
of preparations began three week 5
ago, of which the largest guns are
of more than 13 inches caliber.
These supplement the unlimited
number of guns which can be
brought into action from the water
if wireless call goes forth to the
fleet now resting serenely in scat
tered units along the straits and in
adjacent waters.
London Cabinet Meets.
London, Oct. 9.-(By the Associ-
ated Pres.)-The British cabinet
met today to consider the detailed
report Of Marquis Curzon, foreign
secretary. on his conference at Par
is with Premier Poincare, at which
the position of the allies on the
Turkish question was again consid-
cred.
The Mudania conference is being
resumed under the new instructions
! framed at the Paris meeting, which
were approved with slight changes
by the cabinet ON Saturday night
and forwarded to Brigadier-Gener-
al Harrington. The delegates were
instructed to insist on fixation OF
the number Of Turkish troops from
the neutral zones, and delay in the
, occupation Of Thrace by the Turk
ish army until after the signing OF
! peace treaty.
Turkish In. aston Disquiets.
Meanwhile the situation created
by the Turkish invasion of the Is
mid neutral zone continues dis
Quieting. only part of the invaders
having returned across the line ac-
cording to latest advices. Reports
from two sources say an entire d.
vision entered the neutral zone.
General Harrington is reported to
have warned Ismet Pasha that un.
less the Kemalists withdrew he
may be obliged to make a military
. demonstration on the Turkish
I dAnks. The Kemaiists' represen'
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
Liue Stock
Chicago Livestock.

Chicago, Oct. 9.-Cattle: Re
ceipts $4,000; very slow; quality
plain; few early sales; good native
beef steers about steady; top year
limbs early 1900; top maturej
steers 1880; supply of western
grassers liberal; undertone weak
on in-between grades native beef
steers; she-stock slow. steady to
weak; spots lower; bulls strong 10
15c higher; veal calves opening un-
evenly lower; stockers and feeders
firm.
Hogs: Receipts $4,000; early
market strong to 10c higher; bulk
1870 to 210 pound averages 1850
$50; bulk 220 to 240 pound aver
ages mostly around 1000; top 1905
early; bulk $50 to 200 pound butch
ers 9.60@9.90; big packers doing
little; bulk packing sows 1900
500; pigs mostly 900; heavy $3.50
$50; medium 9.75@10.00; light $50
$3.50; light lights 9.10@9.60; pack
ing sows smooth 7.60@S.25; pack
| ing sows rough 7.15@7.70; killing
! pigs S.75@9.25.
Sheep: Receipts $4,000; opening
slow; early sales fat native lambs
fully steady; early top 1880 to
packers; liberal supply westerns;
seven doubles Nevada lambs 1915
| with 800 out, look lower: feeding
lambs and sheep around steady.
4
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
UNIQUE UNION
FOUND IN WEST
BY Lawrence
CONTINUED from First Page.)

had four representatives of the
workers and four of the employers.
They hear all appeals in their re-
spective districts.
Then above that is the board of
directors Of the whole organiza-
ton. This consists of twenty-four
members, the same being each
chairman of the employee sections
of the twelve district boards and
one representative of management
from each of the district boards.
Thus twenty-four men familiar
with the industry as a whole sit as
a court. If they sat simply as two
groups, little progress would be
made. They have developed a jul
dicial temperament. If there is a
tie vote, the whole question must
be submitted to arbitration and
each side agree TO abide by the re-
suit. If federal judge is avail
able, he is to be selected as an arbi-
traitor, otherwise somebody of SIM
liar standing in the community is
requested to act.
Settlements Peaceful.
But the interesting thing is that
IN three years. there have been no
strikes. There has never been a
case requiring arbitration. Only
two cases were not settled by dis
trict boards and had to be referred
to the board of directors. The lat
ter has in the last few years both
lowered and raised the wage scale
when economic conditions required
it.
About ten thousand workers be-
long to "The Four L.. This is nv
no means majority of the work.
ers, many of whom are secretly af-
filiated with the I. W. w. and some
Of whom belong to unions related
to the American Federation of La
Dor. But the membership is grad
ually growing. Proof that THE
Four l." is neither the tool of the
workmen nor the employers is seen
IN the fact that it is often bitterly
fought by both groups. Several
employers Of the extremist type
who want no kind of organization
to solve labor problems and who
insist on the free play of economic
law, believing human labor to be a
commodity just as much as an in
animate piece of goods, declare they
don't want any committee or board
to tell them what wages should be
paid or what hours shall be work
ed. The board of directors Of "The
Four L., by the way, voted to
maintain the eight-hour day, some
thing which many employers still
resent.
WithStands Criticism.
When deflation came, the legion
came in for severe criticism from
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
Curb Market
BY WILLIAM G. HEFFERNAN.
Copyright. 1922;

New York, Oct. 9.-The 10000
share issue OF Mammoth Oil COM
pany class A common stock of no
par value, admitted to trading on
the curb exchange today command
ed considerable attention in the
trading throughout the session.
The books were opened for sub
scription at 8 a. m. and closed one
hour later.
This corporation will work under
lease granted by the government
in the southern portion of the same
field in which lies the famous Salt
Creek district. The lease consists
Of 1921 acres. Pipe lines from
Kansas City, a distance OF about
900 miles are to be constructed
and S25,0O0,O0O has already been
provided for this work. The COM
pany's contract calls for the most
rapid drilling process ever adopted
and has already resulted in the
bringing in of one gusher produc-
ing from $1,000 to $4,000 barrels a
day. The initial sale took place at
43 and large blocks were traded in
through the session between 43 and
Al against 40, the subscription
price, and 80, the price to brokers.
A wave of buying came into the
Standard oil shares sweeping prac-
tically all of these to new highs
for all time, in response to the dec
laratlons OF large stock dividends
and the expectation Of others in
store. Included among those to
reach rev highs on spectacular ad-
vances were Standard of Kentucky,
the New York shares, Standard Oil
of Kansas, Magnolia Petroleum,
Vacuum Oil, Prairie Pipe Line and
Ohio Oil. All others of this group
went materially higher.
The buying movement extended
into the Independent oils more SO
than at any other time, and sub
stantfal advances were recorded.
Fensland, Maracaibo, Mountain
Producers and Salt Creek Produc-
ers were the leaders. Simms and
New England Fuel Oil shared in
the upward movement. Gulf Oil
OF Pennsylvania was an exception
and appeared heavy.
Industrial issues were in demand
in sympathy with the movement in
this class of stocks on the New
York stock exchange. New York
Telephone preferred continued
strong. Union Carbide reached a
new high at "a. F. NJ. Lupton
class A gained ground. Glen Alden
was firm at its previous close. A
Banking group reported that it had
purchased from an estate it's total
holdings of 10000 shares of the CAP
ital stock of this company. Appli-
cations have been made toilist 1866
900 shares of per cent preferred
stock of Gimble Bros. on the stock
exchange. That the news of aban-
donment of negotiations to merge
Schultz Retail stores with other
large interests had been over dis
counted was evident from the sharp
runup of over four points in this
stock today.
Durant Motors again led the mo-
tor department, active buying
bringing about higher prices. Pack
ard preferred gained a point.
The new United States govern
ment Az per cent treasury bonds
date 1852 were admitted to trading
on when-issued basis, sales TAX
ing place at 1904.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
81 !. 5. LOAN
e|FFECISSToCk
MARKET LIT tie
d sfUARr r. WEST.

Wall Stresf. New York. Oct. a.
NJ principal point of interest in
he financial situation today was
kOw the markets would receive the
|bver-Sunday announcement Of the
|tew $500. 600, 900 government loan.
h A. It turned out, the news had
Iftls effect one way or the other.
|kfbegty bonds went off but to q
|lrtfling extent only. The general
list was steady. and
the stock market kept on with the
|hew forward movement which got
binder way last week.
H A month ago when the Liberty
loans were selling a premium
lind when there were instances ev-
|kn OF new municipal quotations be-
ling put out under four percent, a
Hong time treasury issue would GER
|tainiy have been expected to go at
better than q AZ percent rate. But
|bince then in anticipation Of a new
kload Of government obligations
Etompeting for investment capital.
Ehe bond market has been coming
down.
Liberty bonds have gone back to
Thar, corporate bonds are off to
kb points from the top. In view OF
1 This and bearing in mind the neces-
sity of making the new offering
sufficiently attractive to induce the
conversion of Victory ~ percent
notes, the "A percent rate is not
surprising. The bonds immediate
Bjy sold at a premium of one hall
percent which probably measured
\ The slight additional attractiveness
sbf the 30-year issue over the pres
ent Liberty loans having shorter
l lime to run. But at the same time
I The fact that all holdings in excess
abf $1,000 are subject to the sur
Taxes, indicates that the new loar
will be taken up by small invest
abrs without making a bid fol-
4 wealthy purchasers anxious to es
A cape taxation.
Il The keynote for the stock mar
4 ket today when U. S. Steel wen
Through its previous of the year
lin the eyes Of professional Wal
Il Street this was an occurrence o
4 great Significance. 1t meant tn
Inauguration Of fresh advance
mot only in steel shares them
selves but in the markets general
fly.
II A great rush Of buying immedi
ately swept steel common upwar'
/ more than two points and stirre'
Siilp speculative enthusiasm in tn
Il bther steel shares, the equipments
1.-The motors, the public utilities an
Il j variety Of stocks Of the special
lily class. The direct incentive TO
1.-The buying OF the steels was tn
anticipation Of an unusually favor
liable tonnage statement for tn
asmonth, out Tuesday. But mainl
lllIt was the demonstration OF tn
sltthoroughness with which specula
Rive interests working for highe
iiprices had got back the grip whic
FsSthey lost temporarily during tn
Halter half Of September. TIL
i llground for steel share speculatio
was legitimate enough in the fac
that the steel trade is back to
lao percent production-the max
lllmum Of last June-while stee
Aalprices are sufficiently above wha
Athey were then. to more than Of
iiset the higher wage schedules.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
Chicago Potatoes.

Chicago, Oct 9. = Potatoes:
stronger on bulk; firm on sacks;
receipts 153 cars; total United
States shipments, 1,002 carloads;
Wisconsin, bulk, Whites .90@1.05
cwt; ditto, sacks, .90@1.10 cwt:
Minnesota sacked, whites. .90G105
cwt; Minnesota, bulk, Red Rivers,
.90@105 cwt; Minnesota. sacked.
Land Ohios. .90@1.00 cwt, North
Dakota, bulk, Red Rivers, .90@1G0
cwt; best South Dakota, bulk, Ear
ly Ohios, .70@.S5 cwt; Idaho Rur-
ais, 100 cwt.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09

TEXAS COMPANY.

:
There were two versions regard
ing the motive for the rise in Texas
company today. One was that 1t
was getting ready for another stock
the other that 1t meant
there was something in recent Wall
street rumors Of deal with some
other oil company. Having redeem
ed out of earnings. without any
fresh borrowing. some $27, 100000
OF its serial notes. Texas company
is in a good position to give some
thing extra TO its shareholders.
IyTERBOROUGH.
Announcement of the INTERIOR
ough Rapid Transit Reorganization
plan was the cause OF an active
advance in the company's bonds to-
day and 1t brought some buying
into the marlborough Transit stock.
However, inasmuch as the plan
wipes the PETERBOROUGH Consolidat-
ed OF the slate altogether there
was a rush to save what little re-
manned in the shape OF market
value in these stocks.
STEEL AT NEW HIGH.
U. s. Steel common assumed its
old leadership Of the market again
today and moved ahead steadily
into new high ground above 1903.
The incentive back Of the buying
Of steel common is that the cor
poration in its monthly untitled
tonnage report, is expected to show
tonnage increase of around $50 900
to 1,000, 900 in untitled orders for
September. The largest previous
gain in untitled tonnage was 602,-
769 tons in April.
STROMBERG CARBURETOR.
Stromberg Carburetor's sales in
1922 are expected total at least 3d.
00O, 900 with a net profit Of about
$500, 900 or at the rate Of 81
share on the $4,000 shares of nc
par value stock. This would com
pare with only slightly over 81 a
share earned in 1921 when sales
slipped of over $1,000, 900 from the
previous year. Stromberg at thu
present time is in the stronges
| financial and physical condition il
i its history.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
Peoria Cash Grain.

Peoria, H.. Oct. 9.-Corn: IN
changed; receipts, 1877 cars; No. 2
yellow, 66@6S; No. 3 yellow, 651s;
No. yellow, IS; No. mixed, 651s;
No. mixed, 65.
Oats: Receipts, q cars: kc
lower; No. 2 white, 40@41.
Wheat: Receipts, 3 cars.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
Horses and Mules,

Horses: Good to choice draft,
145@170; good eastern chunks, so
OILS; choice southern horses, 500
20.
Mules: 16 to II hands, 175@5C;
ISL to 161s, $130@225; IA to Is
hands, 40@65.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-10-09
Peoria Livestock.

Peoria, ILL.,, Oct. 9.-Hog receipts.
1900; steady to shade higher; Top,
9.75 on medium; representative
quotations, lights, 900@9.75; medi-
ums, 925@9.75; heavies, S506
9.65; packers. 7.Oo@S.50.
Cattle receipts, 300; slow and
about steady; top on calves, $50.