davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-11-10
Packard Net for Year
Equals 9Oc on Common
S2, 2,Il5,828 Profits Made Posi-.
bic by Substantial sains
in Last Six Mnushs

"A substantial increase in businexs
during the last half Of the fiscal year
ended August 81 enabled the Packard
Motor Car Company TO report net
profits totaling s1,ti6,s2s for the year
equivalent TO 80 cents share, or 0 per
cent, on the s1Sss5,0o0 common stock.
after allowance for preferred dividends
and hxed charges. This compares with
a net loss Of s9s7,s77 In the previous
fiscal year. This display Of earnings
does not truly reflect the profitable
character of the company's present
operations, because all the profits were
made IN the second six months, the
hrst six showing a considerable loss.
In statement TO the stockholders
resident Aiyan Macauiey explained
as follows:
The company prepared, during che
depression, for better times bv im~
proving it's working personnel. deeresa.
ing It's inventories, improving its gacil-
lties and developing new product
with the result that we are now pro-
ducing cars and trucks at the rate Of
approximately 1900 month, and our
program calls for production Of an
proxlmately 1880 month, commenc.
ing December. This is the greatest
output in the company's history. and
1t was accomplished with q smaller or
ganization and much reduced inven-
tory"
The balance sheet shows current as
sets sever, and one-half times the cur
rent liabilities. Cash and United States
government securities amounted 70
$l6,2Ss ,68s. OF the 100000 ten
year per cent notes issued in the
standing on August 81. Inventories at
the factory were reduced from Sol
100000 to sis,7o7,00o. The companv
ended the year with surplus Of ST.
New-York tribune., 1922-11-10
Financial Items

robert e Bowling, president of the City
Investing Company. has been elected a
Gution. AHosi
The lusranty Trust Company of New
YORK has been appointed trustee under q
r,aeS p h1enturo of the Intercontirentai
Hubher Products Corporation dated Octo-
lAed Issue OF S2,s03.00O principal amount
c1onHsrtiole e9l!aterai trust gold notes due
October !, 1892,
Nay ny @ vote Of q the board OF managers the
nIossti Tomorrow. The Chicago Board Of Of
Trade Will also be closed
re S. s. Kreage Company reported
5s.s5 per cent over October, 1921, saies
s48,3s3,294. an increase of 1880 per cant
over corresponding period OF previous wear.
The Reynolds Spring Company in the
quarter gu ss ended September 80 earned from
ies spring business alone SlS3, 600 after de
preclatton but before taxes. After allow
ing Tor three months proportion of pre-
Ierred dividends there was balance Of
sils,33a or s1.61 share on 73.s00 chares
OK common, q rate of S6.44 q year Earn
tnss for the first six months on the com
mon were at the annual rate of SO a share.
The Stock Exchange seat of J. II. Goad-
by Mills has been proposed FOR iran -
Walter s; E,nstein for ss2, 900. That Of
Joseph w. Hartman has been proposed
Tor transfer to David Wood, consideration
Allison L., S. Stern, consideration sa2, 900.
me last previous sale was 500, 900 Charles
r. Heveneyer has been elected to r1eru-
berBh!p.
roIneo Tne American 1 Bankers Association an
hhoulicet mat the following officers have
peer >reappointed: Executive manager,
Fred n. Shepherd; treasurer, r. 4. iriah'
president First National Bank, FARGO
and secretary and assistant treasurer VII
liam G. Fitzw!lson
New-York tribune., 1922-11-10
U. s. Realty ON 6 r. c. Basis
six Months Earnings Equal 10
S8.87 n Share

Directors Of the United States
Realty and Improvement Company yes
terdsy placed the common stock ON
s per cent annual basis by declaring
two quarterly dividends of liz per
cent each, one payable December i5
and the other March Is. The board
indicated that their policy will be,
after paying dividends on the new I
per cent convertible preferred stock
and regular 6 per cent on the common.
to set aside 100000 out of earnings
each year to retire mortgages on vari.
ous properties now amounting 10 Sill
100000.
The balance above this, # was indi-
Gated, would be distributed in the
form Of extra dividends. A special
meeting of stockholders has been called
Tor November Is to vote ON the pro-
posed capital readjustment involving
the authorization Of $LG, 900 600 new
lpreferred stock.
The United States Realty and I'M
provement for the six months ended
October 81 last reported consolidated
net ircome of sl,sa4,495 after ex-
pensee, depreciation, Federal taxes and
interest on debenture bonds. This was
equivalent to sS.87 share earned on
the $1s,162,a0o stock now outstanding.
New-York tribune., 1922-11-10
More Foreign Wool Here
Holdings Increase Greatly in
last Few Mnrsba

WASHINGTON, Nov. s.--stocks a,
WOOL In and afioat to the United statsn
on September 30, 1929, inclnd;ne snns
and noils, amounted to 525.f7s.sfs
POUNDS, grease equivalent, according
70 the quarterly Joint Wool Stock Re.
porI just released by the Bureau az
ene Census, United States Department /
oh commerce, and the Bureau of Arri-
cultural Economics, United States Dr.
partmens of Agriculture.
lne total amount reported for Sem
tember exceeds the amount renorte,i
tor juno 80 by 45,o02 ,434 paunds
crease equivalent. The most NOTICE.
snie increase occurred in foreign raw,
wool held by manufacturers. the
reported stocks of which in
creased 22,ess.7oo pounds over
June 30, while tho stocks of do
mestic wool held by manufacture re-.
NAMED practically unchanged. The
reported stocks of domestic wool held
aealers increased s,t56369 pounds,
while their holdings OF foreign wool
increased t5,1s7,3s5 pounds. In the
graded wool reported, the increases oc-
Cured mainly In the grades below,
90 blood, amounting to $4,000 .o0o
POUNDS In The aggregate for these
graaes. carpet wool alone showing nm
increase Of about 25,oo0000 pounds.
The stocks above the Ia blood grade
increased only about 1900, 600 pounds
New-York tribune., 1922-11-10
Trade Buying Gains

Instead Of slowing down, rs is
normal at this time OF the YEAR. pnr-
chases by retailers from manufac-
turers and wholesalers appear to be
on the. increase. For the week ended
November such buying was [ per
cent heavier than the week urev;oMns ms
according to the merchandising pr,
xlyity report OF the Credit C!earine
House, and also was 90 per cent ahead
OF last year and 1.s per cent better
than in the CORES .,onding week two
years ago.
Indebtedness showed decline Of
26 per cent from the previous week.
but was S.4 per cent heavier than in IN
!s2l and 4S per cent heavier than in
1870. Payment activity increased Ia
per cent over the previous week, but
was per cent less than in 1921 and re
per cent less than In 1920.
The largest gain in purchasing COM
pared to last week was made in the
mountain section, where buying was 8
per cent ahead OF last week, Ill per
cent more than In 1921 and s.1 per
cent ahead Of 1920. Drops in buying
were registered IN the North agricul-
tural and Eastern sections, compared
to last week,
New-York tribune., 1922-11-10
Villa Working Hard for
Bout With CoIdsteiu

Pancso Villas complete record Of
his ring endeavors over stretch os
four years was disclosed for the first
time yesterday by his manager, Frank
A. Churchill, between the training
cunts of his protege for the tiny
Filipino's fifteen rounds Madison
Square Garden debut against Abe Gold
stein next Thursday night. Pancho
was christened Francisco GuiIIedo, and
was born at Iloila, Philippine Islands,
August /, 1901. lie stands feet /
inch and his normal weight Is Ito
pouRds.
Paneho's professional career began
in 1918 and his debut was four round
victory over Kid Castro. He scored
many knockouts on his native soil
against bantams and featherweights.
His 1921 record was corker and in
cluded twenty victories. Before he
came here he beat the Chinaman,
George Washington Lee, in afteeY,
rounds
New-York tribune., 1922-11-10
Correct Sill. Report
Consumption Figures for Octo
bef- Lowered 5000 Bales

To allay the many rumors circulate d
In the trade since the issuance OF the
by the Silk Association Of America.
the. organization yesterday issued an
explanation to the effect that the silk
Yrom the steamers Empress OF Russia,
President Jackson and President viii.
son., the arrival Of which ordinarily
would have insured the silk peing in
warehouses here by the first of the
not included in the stocks reported on
November !. The amount Of silk in
velved amounted to approximately
5'ooo oales. Thus the approximate de-
liveries to American mills during the
month of October as figured by the
iassoclation would be reduced from
tn the - a2,e2i bales reported to $4,000 or
$4,000 bales. The trade takes the de.
livery figures as approximate con
sumption, and the increase from $4,000
bales in September TO $4,000 bales in
october appeared to be exceedingly
New-York tribune., 1922-11-10
lSation to Postpone Further
Financing Unfib Next kInn.h

WASHINGTON, Nov. 9.-Decision to
aefer further government financing
until the middle Of December, emitting
any offer Of Federal securities on No
vember 16, Is understood to have been
reached by the Treasury.
October Is financing, which included
the floating Of $500 1900 900 bond is
sue. has left the Treasury with a
WORKING balance os about s272. 900, 900.
On November Is $7s ,9o0, 900 Of interest
on the second Liberty Loan falls due,
but as there are no Treasury obliga-
tions maturing on that date it is felt
the balance on hand will care for the
interest payments and current ex-
penses for another month,
December i6 maturities, however,
approximate more than $1,000 ,0oo, 600,
including the redemption Of $s70, ,0o0.-
0oo Of 4 per cent Victory notes and
sac, 100000 of tax certificates, while
Secretary Mellon has estimated that
the December Is instaIlment Of in
come and profits taxes will amount TO
only about S250,000, 600.
New-York tribune., 1922-11-10
Navy Will Insist
On z Cruisers as
An.plane Carriers
Rear Admiral Moffe,gt Would
Convert Saratoga and Lex
ingsons Urges Full Tom
mage Allowed by Treaty

From The Trl5sise's waSbss0sos BRreo.f s
WASHINGTON. Nov. 9.-AuthoYizss. :.
ton from Congress to continue thsa
work OF converting the battle cruisers
Saratoga and Lexington into airpisrs
carriers will be sought By the Navy!g,
Department as enc Of the esscnttaSas
items in the navy appropriation bill, i&s
was disclosed to-day at the depart
n;ent. Large sums Of money have siA
ready been spent on these vessels, aneE
their completion can be accomplished
By the further expenditure Of approxles
masely st2.goo,ooo en- each vessel. sg sss
The desirabi!ity of airplane carrisrs
was strongly urged to-day by Rear Ad..5
miral William A. Moffett. chief OF thsss
Bureau Of Naval Aeronautics, upor hts =
return from the experiments conduct
ed IN Chesapeake Bay, IN which the
Langley, the only carrier in the feet nE :
the present time, participated ~
THE air feet OF an enemy will EevsG
get within striking distance OF cu,s
coasts Us long as our aircraft carriers.
are able to carry the preponderance or
air power at sea," Admiral Moffett.
said. ~ have seen planes successfully
landed snd take off from the Langfsy,
and thorough test was made Of the
features Of the ship which will enable
our airpl2ne carriers 20 aoffrd the
maximum Of service in aircraft defeusf
and oaense to the navy. We are wcrkAs
ing along correct lines in the develop.
ment Of the carrier. All developme ntas
that are Incorporated in the Langley
have been evolved by American talene
and represent the most advanced
thought and careful investigation ers
the subject" Us
Admiral Mofsett urged that the fu1a
tonnage Of airplane carriers allowed
this country under the Limitation uf
Armament treaty be built. ''We are
carriers for aircraft under the Limitass-
tion OF Armament treaty" he sai4t4
"snd we will need every ton OF til tsla
supply an adequate aviation compile
ment to the feet. Other countries hare
agreed that this figure expresses the
minimum of our requirements, ana
surely We cannot afford 60 rate onTs
selves lower than the rating which We.
have been assigned by International
agreement" %
The Langley which Is The first air.
plane carrier to be built by this coun- !
try, has been operating in Chesapeake,
Ba yand the Virginia Capes since.
september, but until recently no avi45
tion operations were attempted, owing
to the preliminary work of organiza!-s
! tion on the new ship. The first lsndings
was made on her deck two weeks ago.
| by Lieutenant Comm nder Godfrey
Chevalie~, Y. s. y. The Langley fss
commanded by Captain S. n. r. Doyle,
U. S. NJ, who was formerly command
ing officer of the naval air station si.
! Hampton Roads. rTg
New-York tribune., 1922-11-10
Petitions in Ban,,rupttcy

The following petitions in bankruptcy
wero Med yesterday IN the United States
District Court:
POMONA BAKERY AND ENTERPRISES
CO, ,ISt,.---Irvoiuntary, s35 Lenox av.
GOLDEN OBSERVATION-DISCLOSURES Bes-
DAVID PEFyA - Voluntary Furrier
ss6 eth av. Liabilities, s6,7ls; aesete,
$1.1G3
WILLIAMS & QUINN~-yoluntary Con
tractors, COS Lexington av. Liabilities,
$s.0s4; assets, $ses
st. Liahliities. se,ll2; assets, sl,2s7
GROSS & F1SCHER--Involuntary E7urs
fu' west 2s+h ~
6. p. G. MFG. co, rNc.-rnyoiuntary
Mfrs mechanical doll voices. Ts Spring at
GREENBEP9 a. KENOVSKY--Inyoiun J.
tary. Furs, is4 West asth st.
Receivers in Bankruptcy
The following receivers in bankruptcy
we're appointed yesterday III the United
States District Court:
Cival Wilds for Royal Metal and Gem
tury silver Works, asa West 49th ST. with
bond of $4,000.
Louis Jersawit, for Pomona Bakery and
Enterprises Co, Inc, sa5 Leaox sv., with
hond OF $4,000,
Charles Shosood, for Leo Heitner, furn.-
ture. 1891 I'd av.. with bond of $4,000
Lloyd Garrison. for Gross & Fischer,
furs. 2e1 West 26th at, with bond OF 81, ,oeo.
Schedules In Bankruptcy
The following schedules in bankruptcy
we're fled yesterday tn the United States
District Court:
SIMON EHRESsERc-1ss stanton at.
i HERMAN psiaa APPEIaAlS = 4spo Clothing. 90
Rutgers st. Liabilities. $io.ll7: assets,
Sc.65S,
New-York tribune., 1922-11-10
Marine Corps Orders

WASHINGTON. Nov. a.-Aarine Corps
orders issued to-day follow:
Mcguire, Capt. j.. to Hampton Roads
Grove. 1t c. S., resigned
Joerger, I'd Ii. Fl. g. resigned
Miller, 1t. Col E. B.. TO Cavite
Mills Capt. W.. TO Cavite
Guilfoyle, Capt. r. w. 10 Mare Island
Biiisoly, LIT. W. e., to q. 8. s. Asneville.
Lowell, Capt, II. D., to Washington
Pollock, I'd 1t. e. a.. TO Paris Island
Lloyd. Mar. Gun E. u to Quant!co.
Honorably tischarged--Bowar, Cd 1t X :
Itouvalinka, % 1T. G.. j.; Polk, I'd. LIZ.
s. w; Hollis Cd IL. j. G.; Jones, I'd
1t. F. r.; stuart. Cd LII. l.. B.; Tate
I'd 1t. T. b.; GMthers 20 Ii III. r..
Amen, Cd Lit. J. H: Earris. ed 1t L. j /;
Williams, I'd 1t. K. L.. Harmon, I'd Ii.
r. s.; McDuffe. 2d 1t. b. M; Cochran.
I'd 1t A. F.; Freeman, I'd Lit. af. dec.
Ash. Cd 1t. +. D.: Becker, I'd 1T. D. b.
Atwood, I'd 1t. B. w: Hossel I'd 1t Nj
c.; Caldwell. I'd 1t J. c.; Foxworthy
I'd Lit. r.: Garrison. I'd 1t. L. H; His-
gins. I'd II. A. d.
New-York tribune., 1922-11-10
Advances VIII Mango From
Z to Is Per Cent, Ii lis
Said, Due TO Increased
Cost of Raw Materials

a. Mhigher prices, FOR tires, drug sun
0r.es and mechanical rubber roods
within the next ten days or two weaLs
we're forecast yesterday by ioca, ren.
fesensatives OF manufacturers, The
advances, expected TO be between 7
ana 40 per cent. will reflect the in
creased cost OF raw materials, chiefly
crude rubber and cotton duck. The
price OF crude rubber, owing to Inc
British program of rubber restriction
In the Far Eastern plantations. hns
advanced from 1914 cents n pound on
Vctobsr to 20 cents a pound yester-
aag. Cotton duck, because OF Increased
demand and advancing price of raw
cotton, has also increased sharuiv In
the last month.
Are manufacturers said that thew
expected tire prices to advance from
! TO 10 per cent. Tire prices at pres
snt are the lowest in their history.
MAKERS OF mechanical goods expect
pIices 10 advance 10 per cent, marking
the nrst increase in mechanical good 9
since July, 1920, when most articles
were marked up 10 per cent. Since
that time mechanical goods manufac-
turers have made successive reduc-
tlons. with the result that most of
their line to-day Is from 35 TO 40 per
cent lower than in 1920.
Drug sundries In some cases may
be marked up 15 per cent, Several
| manufacturers said their drug sun
dries departments are working over
time. The increased cost Of crude
rubber has hit drug sundries particu-
larly hard, because prevailing prices
| were based on large stocks of dow
priced raw materials.
Manufacturers of mechanical goods
said railroads and mining companies,
two of their largest buyers, have Just
entered the market. Recent sales Of
steam rubber hose and air hose TO
railroads have been exceptionally good
and mining companies have bought
large quantities Of rubber betting. The
demand for rubber heels is so great
that several manufacturers have placed
two shifts II those departments.
New-York tribune., 1922-11-10
Commercial Credit

Collections from retailers and
wholesalers throughout the country
have shown marked improvement in
the last month, according to the credit
departments for some Of the largest
textile selling agents here. Outstand-
ing accounts have shown large re-
duetion, and on current purchases
more dealers are taking advantage Of
the cash discounts, 1t is reported
Demand for commercial money re-
mains fairly active. A good suppl Of
commercial paper Is being issued and
finds ready market, Rates remain
firm at Az TO AZ per cent.
The American Acceptance Council
yesterday quoted the following dis
count rates on prime bankers accep-
ances eligible for purchase by Federal
Reserve banks;
New-York tribune., 1922-11-10
Hudson Seal Price RreaLs

~ Unloading Of the markets stocks OF
nuason seal, both in the skin and in
she manufactured garment, has already
SeRen a on large scale. Concessions Of
made in order to Dispose Of the ners
ehandise quickly. In some quarters
1nrther recessions are anticipated.
The sudden collapse in the strength
OF hudson seal is attributed to Che
inding of the holders hopes that the
pubic could be aroused to buy in such
quantities as to move out the markets
entire stocks. With only about three
weeks left to this season, many dealers
nelieve the time is too short for all OF
them TO dispose of their supplies. They
are consequently operating on the the
CRY that On early sacrifice Is a wise
New-York tribune., 1922-11-10
Telephone Business Gains
Revenues Reported for 1922
Show Increase Over 1921

WASHINGTON, Nov. 9.---Income and
profifs OF sevensy-one large telephone
companies in che United States, accord
ing TO reports summarized by the In.
terstate Commerce Commission, showed
marked increases during August of this
year as compared with the same month
Of 1871, and also set record for earn.
ings during the FIRST eight months OF
the year higher than siiat OF 1921.
For the month telephone operating rev.
enues were s4s,s19,6S7, compared to
$40, 900 IN 1921, and net income
sitter expenses amounted to st0,t77. .eSsl
compared with s8.4s8 600.
For the eight months revenues were
1885 $685. 900 and income was s8I. .725.-
o0e, compared with $25s,900,ee0 total
revenue for the same period Of 1921
and $40, ,g32 ,2e9 income
New-York tribune., 1922-11-10
Mexican Seaboard Oil

Harris Hammond. president of the
Mexican Seaboard Oil Company, stated
after meeting of directors taat since
salt water had invaded rhe Tpseces
field in Mexico on July 8, up to Oc.oa
ber ~ the company obtained 3,903, AS,
harreis of oil from it's wells in Toteco,.
He also said that after taking care es,
all current expenses and setting aside
the so cents a share dividend declarea,
yesterday the company has on hand,
-5,66o,209 in cash and accounts rsit
ceivabie. The dividend declared yes4'
terday is payable November 81 to
stockholders OF record November 20.
Mr.. Hammond said the company now
had three wells drilling in Toteco, four
in Aqua Nacida, one in CacaliIao and
one in the State OF Tohasea
New-York tribune., 1922-11-10
saoald Hold City Stock

ou.,:ioa--f havs about $4,000 first
,,sstxsres, also the following bonds
ssess Canadian Northern Ts: $1,000 coy
ss,ru sosass socs New York City. 1857; $4,000
Soss. issf $4,000 Danish Munlcipai rs;
,s SIS 8staiehen Steel ss. 1s4s: five Japa.
! - 81 1928; So. Ann Arbor ss.
sfsss baltimore & Ohio convertible $Ls.
"a $500 Third Liberty: $4,000 Dutch
saSsSs % Ssss ssSoS SSs dssa. ssi + Teisphons q
1 6 Paul refunding 4hs; sa,ooo Fourth
ilststy;; $4,000 Aluminium Company of
Assriss Is. $1,000 Swift 5s: $4,000 West
sasAesse is; 1000 Second Liberty; So. 900
gaaksyn Edison D; $1,000 French Repuh.
IL Ia have at present about IS,
10 ssi the Chicago, Milwaukee & st. Paul
ssss5t5g Z hs and New York City stock.
Nssy advise how i should invest the
sacsss In some high-grade bonds
iay.
.Asawer-We understand the motive
HI tie sale of st. Paul 41as and ap-
,,sss the suggestion, but fail to see
as advantage in disposing of tho New
yak City corporate stock. This is
10 Of the highest types of municipal
md and we believe that greater
stsentsge of this class of security
saoald be held in an live tinent as
hrge as yours. We suggest for your
1900 and the proceeds of the sale of
he st. Paul bonds st. Louis-San Fran
dseo prior lien 4s or 5s, 1860, yielding
,,eat 6 per cent; Duquesne Light 6s,
9is, yielding about 81 per cent, and
lnsriean Sugar IS, 1887, yielding
bout 81 per cent.
New-York tribune., 1922-11-10
Army Orders

F''oss The Trioane's Washington Bnreox
WASHINGTON. Nov. 9.--Arnly orders
Issued to-day follow:
tsuartermaster Corps
Bottoms, Col. s. t., 10 Panama.
Deranilner, Capt. a. f., TO New York
Goodyear, 1t. Fl. w. to Fort Sill
Medical Corps
Pinney, Capt. o. H.. to Denver.
Lothrop, Capt. J. n. TO Waiter Feed Eioa
pital
Kenner MAJ A. w. to Washington.
Thomas, Maj. W. c., TO West Point.
Infantry
Eadsell. LIT. Col. G. A, to Washington
Wilson, Maj. .. s., to Washington
Furrey. Capt. II. n. 10 Washington.
Penrose- Capt a. w. TO Washington
Ramsey, Capt. j. W., to Washington
strong. Capt. r. D., to Washington.
Van Voorhees,. Can't. Il. NJ, TO Washington.
Atkinson. 1t. Il. c., to washington
Tapscott. 1t. f.. w, to Washington.
Taylor, Lit, Col. W. W. jr., to Walter Reed
Hospital.
Miscellaneous
Patterson, Maj. Il. B.. TO Fort Riley.
Dfliey, 1t. Q. r., Phil scouts, te Manila.
Fraser. MAJ. w. Vet. c., te Chicago.
Reed, Capt. W. j.. Air svc.. to Lakehurst.
New-York tribune., 1922-11-10
Navy Orders
From The Trsotae's Washington BareGss

Froln Tho Trs6nT.e's Woshtw0so7s BareaA
WASHINGTON. Nov. s.-Navy orders
Issued to-day follow:
Arwine Com. J, S tr., to U. g. 8. Texas
Bailey. LIT. q. Sd ", TO u. S. S. Ten
nessee.
Wreun, Ems. p. c.. to y. s. S. Prairie
Gather. Com. D. G., TO q. s. s.. Mercy,
neCreary. 1t, Com. A. F.. to Asiatic
Fisher. Ia. D.. TO Washington.
Luna, Lt. w. e, to Washington.
sprengei, 1t q. 81 D1 A.. TO WASH
tnGtoU.
RUnyon Ems Z. w. 5.. Ia WashiD gtou
Cullen. Gun. 7. g, to Fort AIifflin.
Wilson. 1t. b W, To 0iongapo.
Hastings, 1t q. g.) W. w, 90 Mare
Island.
New-York tribune., 1922-11-10
Mother'otle Outpn. Gains

The MotherIode Coalition Mines
Company produced 2o,499 1926 pounds
Of copper in the ten months ended Oc-
tober 81 last, compared with 1s,9o1 500
pounds for the full year 1921. 1t ts
estimated that this years profits wtta
be greater than in either of the twn
years because of lower costs of pro-.
duction In the 1922 period to August
81 these were sc cents a pound, against
7.e cents pound in 1891. and SIS cents
in fQ10
New-York tribune., 1922-11-10
Court Refuses TO Modify Writ
For New Pierce Oil Election

Court, yesterday denied AN application
made by Judge Alton B. Parker for a
stay of the proceedings and modifica-
tion of the previous order made last
week directing the Pierce Oil Corpora
tion and its officers to call meeting
of preferred stockholders on December
2 for the purpose Of eleeting a new
board Of directors.
The Chanccry Court In Richmond,
Va, where proceedings are also pend
ing issued an injunction Wednesday re-
straining the execution Of the order of
the New York State Supreme Court,
contending that the New York writ
was an infringement upon its juris-
diction