davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
Violent Decline In
prices Of Stock Is
Outstanding Feature

n NEW YORK, May 5.--A severe break
lin stock market prices with partial
'covery at the end of the week. further re-
IL Ration of commodity prices. easier
money rates in preparation for federal
Financing and lower exchange rates were
the outstanding developments in this
weeks financial and commodity mar
.kets.
4. The violent declines in stock prices
after a long period of narrow and irregu-
Tar movement resulted in extensive
Nshake out of weak speculative accounts,
w.iiol experts agreed has materially
Opinion Is still widely divided. however.
~ ii whether the reaction signalled the
sifu of the bull market which began in
the summer of 1921 was merely the
which the last phase of the bull market
would be carried on. Railroad and in
dustria1 averages were carried to new low
levels for the year during the week.
4" OgSer speculative markets reacted in
eympathy with stock prices. Cotton quo
tations We're at their lowest levels of the
Near and sc pound below the years
peak. raw and refined sugar prices
dumped badly in response to the growing
propa ganda of buyers strikes and the
rause of the conflicting estimates of the
~carryover.
~ Further reductions took place in the
prices of crude oil. lead copper, rubber
and other materials.
NJ French rejection of the German repara-
tions offer was expected by the financial
community and its apparent effects were
n slight reaction in the prices of French
bonds and lower foreign exchange rates
German marks got down to .0025c or
10000 to the American dollar, but rail-
lied later to .0029c. British and French
exchange eased slightly
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
FOREIGN BONDS
Ton Stock Exchaupe\
BREAK IN CORN is.
SIGNAL FOR DROP
IN WHEAT PRICES

CHICAGO. May Corn broke in
price today under heavy selling and
carried wheat along. Nearly perfect
weather for corn planting laid the
corn market open to attack from
traders who professed to believe that
recent purchasing of corn had been
greatly overdone. Wheat closed
heavy. 1c to 119c net lower, with
July s1.17B to s117A and Septem-
Der s1.5212. Corn finished &c to 2%c
down. oats a shade to CSC off. and
provisions at a setback of 12c to 15c.
Al first all the grain markets.
especially wheat, showed a tendency
to rise to a higher level of values
This tendency was chiefly due to
apparent indifference which the Liv-
erpool wheat trade displayed regard
ing yesterdays price declines in
America. Wheat bulls here were also
disposed to emphasize drought re-
ports from Ohio, Indiana and Illinois.
When heavy selling developed in the
corn market, however, many holders
of wheat became discouraged, and
liquidation assumed large proper
tons in wheat as well as in corn.
For the time being, neither corn nor
=
ing power left at the finish.
With an outlook that the coming
week would witness continuation
of clear skies and normal tempera-
ture favorable for field work
throughout the corn belt. bears were
quick to seize the opportunity to
press for a downward readjustment
of corn prices. Eastern interests in
particular were said to be convinced
that recent advances in the corn
market had been excessive and that
a reaction was due. Reports at hand
Indicated that good progress in corn
planting had already been made, and
with prices unsteady in the general
commodity list and with aggressive
selling in the corn market, corn I'M
derwent a break of nearly 8 cents n
hushel in some ,aseS. Oats were
neglected and held comparatively
firm. Provisions declined with grain.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

Members New York Stock Exchange, New
Orleans Cotton Exchange, New York Pro-
duce Exchange, Associated Members
Liverpool Cotton Association. Orders So
icited for the purchase and sale of Cotton
and Cotton Seed Oil for future delivery.
Special attention and liberal terms given
for consignment of spot cotton for de.
livery.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

SAVANNAH. May b.-Turpontine noth-
ing doing last sale May at Sis: re
Greipts $50; shipments 1871; stock, 4.l11
Resin firni sales, 1,229; receipts. 1865
shipments, 500; stock 1851. quote: b 70
+. 81 20; q to X si.7OQ4 rs NJ Sd so.
y, 50. l5@ 5 rs VIC, IS 40 WV, Sc As.
JAcKSoNVILLE, Fla. May 5.-Turpen-
TIM steady. 81 o5. sales. Ice; receipts. ga;
sales none: receipt, 2,1S4: shipments none
stock l14.65O Quote; Il to +. $40; II
to 81. 75qi.S5; X. $4.75: NJ. 81 .som
4'SV' ~ sS'2Si VIC 40 WV, s6.25.
Goiter is prevalent in many Sec
tons where water is used that has
uttered through rocks impregnated
With minerals
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
DRY GOODS

NEW YORK May 5.-Cotton goods were
dun today and prices showed further
decline in print cloths sales being made
on a basis OF 10c for 3s y inch 64x50s
Yarns we're quiet and easy. Raw silk
dropped so yen in the primary japanese
markets and remained quiet here. Burlaps
were points easier at Calcutta and Of
fered cheaper here Linens were dull
Knit goods were very quiet.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

NEW YORK. May 5.-The cotton seed
oil market was a narrow affair today
and shade lower to scattered selling by
commission houses and refiners on the
decline in lard. Sales, 1900 barrels.
Prime crude. $4,000; prime summer
yellow, spot, l.S6c bid: May. IL 0c; July,
1l.2sc; September, 11.12c. all bid.
The sepulcher where lies the body
Of the Dowager Empress Tzu Hsi of
China, was in course of construction
for more than 80 years.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

NEW YORK. May Raw silk steady:
prices per pound kansai double extra
50 45Gp9 so: kansai No l filler. 50 400
"a Shinshu No. l. 50 asa 9. 40; Canton
extra A, f-l6, .95@9.15; Shanghai
a 0 g5 '' Wow
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

Crystal Palace, London, housed
the great exhibition of 1851, and aft
erward was sold for s350,000, to be
removed to it's present site.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
CASH GRAIN

CASH GRAIN
ST. LOUIS. May 5.-Wheat: No. 3 red.
sl2s Corn: No. . white, say No 2 vel
low. S2la q s3c. oats: No. white, 46h @
46iac; No. white, asa. q acc.
s1i74 july si.I5A. Corn nea May. sig
July, sc. oats: May, 451ac; July. 46Ac.
KANSAS CITY. Mo-. May 5.-wheat:
No. hard, 81. l2@ 20; No. red. 81 81
@1.S0 Corn. No. 2 yellow S2QS3ta &C;
No. mixed, S0@S1c. Oats: No. 2 white,
46@ i6i2c; No. mixed. 46c.
TOLEDO, May 5,-Wheat Cash, $3.50
"a. Clover seed. prime cash. s1l AS; Oc-
tober, $l2 .05i2 December, Sill. so. Alsike,
prime cash. $40. SO. Timothy. prime cas-
So. 30; May. $3.50; September. $3.50; Oc-
tober, So So
MINNEAPOLIS. Mimi. May 5.-wheat:
No. / northern. l.2114 al .29A; No.
dark northern fancy, $l.3lAM14 AK No.
dark northern. 81 23A al az Corn !:
No. 3 yellow, 76ia a nc. Oats: No. 8
white. 41a Q42$sc. Flax: No. l, $2.91h.
PRODUCE AND POULTRY
CHICAGO. May 5-Butter unchanged.
Eggs easy; receipts. 1929 cases: firsts
26 @26lac; ordinary firsts, PAN a FAC: mis-
cellaneuus, 25M25iac; storage pack extras,
2Si4 @2siac; storage pace firsts, 27% q 2sc.
Poultry, alive unchanged.
KANSAS CITY. Mo-. Nav 5.-Butter and
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
Rally Brk Al Ope OF Stock NHaket But Decline Foolus
NEW YORK CURB

NEW YORK. May 5.-FoIlowing is the
official list of transactions on the New
York curb Exchange giving all stocks
and bonds traded IN:
Ind, ri oil
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

skies. fancy, 5000. so: few. 81 25 choice.
$5Q5.5 so: few. s6.25.
Spinach unchanged.
Strawberries weaker; Louisiana 24-pint
crates: klondykes, good quality and condi-
ton, 81. rs a 3; Mississippi S5.50Q6 poor
green. SO.
Cabbage unchanged
Austion Friday; Florida grapefruit:
Brights, s1..5o@4; Goldens, i.e59l So :
Russets, s1.S5G4. Florida oranges
brights, So, 50q6; Goldens, s2.4o95 80.
HORSES AND MULES
EAST ST. LOUIS, ILL., May 5-Horses
and mules steady to strong; quotations un-
changed.
RICE
NEW ORLEANS. May 5.-Rough rice
dull and declining; sales 269 sacks Hon
duras. 4 Soc 1868 sacks Blue Rose 260 20
3,S5c' millers' receipts, 1859 sacks. Clean
rice quiet; sales none receipts, 71O6 peck
cts Bran and polish unchanged.
TALLOW
NEW YORK. May Shallow easier;
special loose, Sc; extra. Sic. Other articles
unchanged.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
Little Market Flashes

/ NEW YORK. May 5.-The Texas com
pany and the Sinclair Crude on furehas-
ing company today announced cut Oh /"
cents A barrel in the price of mid cont
nent crude oil.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
NEW YORK BONDS

NEW YORK, May 5.-Following are
today's high low and closing prices of
bonds on the New York Stock Exchange,
and the total sales of each bond:
Railway and miscellaneous
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
BOND MARKET


Readers should note that Liberty bonds
are quoted in dollars and thirty seconds
OF dollars instead of dollars and cents.
The fractions are designated by giving the
nunerator only.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

NEW YORK. May 5-Leading mortgage
underwriters revealed today that they
would not increase the fixed amount of
costs. Thirty per cent has been allowed
for increased costs since 1916. but no fur
Their allowance for higher wages of union
workers and for increased cost of ma
terials will be made. il is stated. One of
the largest mortgage houses is reported to
have refused applications on the ground
that the margin of safety for building
loans has been reached.
WASHINGTON, May 5.--The Seaboard
Air Line got permission from the inter
state commerce commission today to is
sue sl97O,000 in consolidated mortgage
bonds A part of the securities will be
turned over to the treasury department az
security for advances made by the gov
eminent to the road.
CHICAGO. May 5.-Improvement in
earnings was shown by both the Chicago,
Milwaukee and St. Paul and the Chicago
and Northwestern railways their annual
reports for the year ending December 81
1922, disclosed when made public today.
The former road. while now earning more
than its fixed charges. showed deficit OF
S6,l43.16S compared with deficit of Sill
070.60 in the previous year. The North
ment. reporting a surplus of $73.260 after
payment Of dividends. as against a deficit
of $lo,o7o,707 in 1921.
WASHINGTON May 5.-The output of
gasoline during March totaled $40. 701 $50
gallons, and created a new high record,
the department of the interior announced
today. Stocks on hand March 81 were
1882 09,lTl gallons. an increase of 129,-
00000 gallons. Consumption during
March was estimated at 10000. 900 gal
Ions. Kerosene production was 100, 70i, 276
gallons "a slight decrease.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
CHICAGO VEGETABLES

CHICAGO VEGETABLES
CHICAGO, May 5.-Onions weak; Texas
standard crates. white wax, s3M325: few
So rs; fair, S2@2.25.
Celery unchanged.
Tomatoes weaker; Florida renack al
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

TULSA, Okla. May 5.-The Prairie on
and Gas company announced another re-
ducti ion of 10 cents per barrel in all grades
of mid continent crude oil at the opening
of the market here today.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
NEW YORK STOCKS

NEW YORK. May 5.-FoIIowing are
today's sales high, low and closing prices
of stocks listed the New York Stock
Exchange:
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

DALLAS Tex. May 5.-Oklahoma and
Texas crude oils were reduced to 10
cents per barrel in price by the Magnolia
Petroleum company today
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

CHICAGO. May 5.-Potatoes firm: re-
ceipts. 70 cars; total United States ship
whites, 81 .05 @1. Is cwt.; bulk, 81. o5 cwt.
Minnesota sacked Red River Ohios. rs a
poe cwt.; fancy, 81 cwt.; poor soc cwt
Minnesota bulk white variety 81 cwt :
Idaho sacked Russets, sl.25G175, de-
pending on condition. Idaho sacked rurals,
VI 10 0l 20 cwt.; new stock limited and
slightly weaker; Florida Spaulding Rose.
barrels, No. l. s9@9.5o; No. 2. s6Q6.56
No. 3. 1904.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

PARIS May 5.-Beginning today, the
Paris Bourse will be closed on Saturdays
until Ostober s.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

NEW YORK, May Shallow easier
special loose, Sc; extra. SIC. Other articles
unchanged.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

LONDON. May b-Bar silver. 80 15-1Sd
per ounce. Money, 1as per cent. Dis
count rates short bills =. % l Is per cent;
three months bills. 2 per cent.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
COFFEE FUTURES
FOREIGN EXCHANGES

iii NEW YORK. May 5.-Foreign exchange
steady. Quotations in cents: Great Brit
ain, demand 4.62. cables 4. 81 GIG. 60-day
bills on banks 6.o7 7-16. France, demand
@ G6h, cables 6.67. Italy, 4.S7i2 and
4.ss. Belgium. 5.761a and 6.77 Ger
inany. .oo29 and 0o29h. Holland, 39.os
and 1912. Norway, 10. %. Sweden, 1852.
Denmark, IS. 81. Switzerland, Is 05. Spain,
Us. "a. Greece, 1873. Poland, .0o21. Czecho-
Elovakia 2.ss. Argentine. 50. so. Brazil,
40. SO. Montreal, IS 1-15.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
CHICAGO STOCKS

~ CHICAGO. May 5.-Armour of Delaware,
i e2& Armour preferred. 81; Common
I az. standard Gas esq +. Swift & Co. 1o4
: swift International 1sia; Union Carbide
~e0la; United Iron Works. 81 Wahi, 4sic
Western Knitting. 6a Yellow Manufac'
turing B. $50 yellow Taxi. 81 "
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

! MINNEAPOLIS. Mimi, May 5-Flour
unchanged to 1oc lower; family patents
! S6.S0Q1 a barrel. Bran, S2s q IS so.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
Yes, each week is big.

eggs unchanged. Poultry unchanged to
ST. LOUIS. Mo-. May 6.-Poultry butter
and eggs unchanged.
NEW YORK. May 5-Live poultry no
quotations; dressed poultry quiet. prices
unchanged.
NEW YORK. May 5.-Butter firmer; re-
celpts, 132 33; creamery higher than ex
tras, ~ @44c; creamery extras, 90 score,
$50 f3Ac; creamery firsts. IS to 81 score,
4212 @43c. Eggs steady; receipts, 3331s.
Cheese steady; receipts. 1s9.197 pounds
CHICAGO, May 5.-The butter market
here today was fairly active and quite
firm. Supplies were moderate. Under
grades particularly were closely cleaned
up, but no surplus of any grade was re-
ported. Offerings were quite firmly held
for the below quoted prices, but the policy
of nearly all dealers is free selling so far
as any surplus is concerned. Reports of
more butter at the depots increased the in
clination of some to selling, but values
were generally pretty firm. Heavier sup
plies made the car market somewhat
easier Offerings at the below prices met
with little response from the buyers.
Fresh butter: 80 score 41lac, 81 score
Ale, 80 score 401ac, 50 score 4Oc SIS score
39lac, SO score S9c, Sc score 3Shc.
Centralized car lots: 90 score 41hc, SO
score 4o12c.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06

CHICAGO, May 5.-Following are the
open high, low and close on Chicago
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-06
POTATOES

FLAA SEED
DULUTH Mimi. May 5.-Closing flax
May, 81. 30 asked; July. So 10; September
81 81; October, $2.4S asked
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1923-06-19
HUNTS
FOR 2 BOYS

A posse Of deputy sheriffs left
Seattle Tuesday TO search for two
youths who have been missing since
Saturday ana for whose life grave
fears are entertained. The boys
are Eugene Vester son Of c. h.
vester. 61O Summit ave. ~, and
Bonnie Joddrell. an orphan, both
aged IS years.
The two youths were taken to
the Echo Lake trail at . y. m.
last Saturday by yester and he was
to meet them there Sunday eve.
ming at o'clock. He waited until
$50 o'clock, then returned to Sc.
attic. When the boys did not make
their appearance Monday the fam.
lily grew alarmed and Tuesday
morning reported their absence TO
Sheriff starwich. a crew Of deputy
sherIffs was sent to search for
them.
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1923-06-19
FEAR WOMAN
DROWNED SELF

Fearing that she has drowned her
self in Lake Washington. the police
were searching Tuesday for Mrs. ii.
t. Spigcr. 60. who left her home at
35o3 +. i5th ST. Tuesday morning.
The disappearance of Mrs. spiger
was reported by DIR. II. j. Knott OF
the Cobb building. DR.. Knott has
been treating her for mental dis.
order.
For some time Mrs. Spiger is said
TO have been acting lqueerly and told
neighbors recently that "she would
be found in the lake soon" Mrs.
Spiger is said 10 have u daughter
confined in hospital suffering from
a mental arrangement similar 10 her
own trouble.
Police detectives began a search
for the woman, but have so far failed
to locate her. She is described ms
being aboat five feet seven inches in
height, weighing about us pounds,
fair complexioned, with blue eyes.
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1923-06-19
Train Arrives Too
Late for Meet
ing in City

TUNE and tide wait for no man,
i nor do transpacitIc boats delay
their sailing timo for sentimental
reasons. or do tranxcontInentai
trains speed up and arrive ahead
OF schedules so that a brother. com.
Ing from the East. may bid goodbye
TO a brother that Is sailing FOR the
Orient.
This was the case Tuesday morn.
ing with c. s. Atwood. who sailed
from Smith Cove on the President
Madison al the same instant that
his brother. c. y. Atwood. stepped
off a train IN the Seattle station
with his wife. from the East.
But the Atwoods dcfled arrival
and departure schedules and the
two brothcrs were given an oppor.
tuuity to greet each other and say
goodbye-eyCn tho Il vas at a dis.
lance.
As soon 20 6. F. Atwood got Off
his train. he and his wife we're
hustled into taxicab and rushed 10
Madison park. where L. Hurbcr
bundled them into his plane. "The
Sea CUR and hoped Off into the
air
Then he circlcd out over the
Sound and dropped down alongside
the President Madison. The plane
passengers dropped , two great
bundles OF flowers onto the ships
decks and then. as they circicd the
ship, waved greeting to the party
that was aboard the vessel.
The party on the ship vas com.
posed OF Mr.. and Mrs C. s. Atwood,
OF Seattle. Mr.. and Mrs. r. J. Clarke.
Of Seattle. and Tom Clarke. Jr. They
will be In the Orient for several
months and c. +. Atwood and his
wife. who come from Chicago. will
not be IN the city when the party
returns.
we had expected TO meet here
before we sailed" c. S. Atwood said
Tuesday before the President Madl.
son left the dock.
Then found out that my
brothers train would not arrive IN
time to allow us TO sec zach other
so I arranged with Huber to bring
them out over the ship where we
could at least get glimpse OF them
and shout greeting"
After circling tho ship several
times Huber piloted his plane and
his passengers back TO the hangers
at Madison park and the Atwoods
proceeded TO the city.
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1923-06-19
DRIVERS MUST
STOP FOR CARS
Trolley Passengers Will Be
Protected, Police Say

Everincreasing numbers OF auto
accidents caused by drivers who
aabitually dash past loading and un.
loading street cars has aroused the
ire Of police officials. Tuesday
morning II was announced that the
penalty for this offense would be
Increased TO $50 cash bail for first
offense and n Jail sentence for sec.
ond offense.
Traffic officer George c. Collins
was detailed by Inspector Harry G..
o'Brien Tuesday 10 the special duty
Of running down drivers guilty of
passing street cars with gates open
for passengers. Collins win ride the
street cars at all hours of the dny.
dressed in civilian clothes. in order
that drivers may not know him.
I'm the first few hours that |
rode on the cars" Collins said. II
caught $50 drivers in the act of
breaking this bne ordinance. Ii is
not fair TO the street car patrons 10
dash past u loading car, riskins life
and limb.
There are q lot of reckless driv.
crs, who have become accustomed
TO this practice O'Bnen declared,
"and they ary going to be n sorry
bunch II they don't stop it. \ large
percentage OF our accidents are
caused in this manner and It has
got to stop.
III n $50 fine doesn't stop them,
a Jail sentence win, and Judge John
II. Gordon is in entire sympathy
with our new policy"
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1923-06-19

Wena,cheo 10 approaching the
crucial point Of its career and IS
cxcrting it's final effort 10 make n
conclusive showing before the com.
mission.
Appeals wiz be issued 10 ali
Northwest Chambers Of Commerce
and commercial clubs before tho
hearing asking that each body be
represented and prove concluAvely
10 the commissioner That the en-.
tire Northwest Is interested in open.
ing Up North Central Washington.
This plan OF action was decided
upon Tuesday morning at a confer.
enc0 between Vaughn Chairman,
secretary Of the wenatcheo Com.
mercial club. and Benton ". Bangs,
chairman OF the growers committee
OF Tho club.
II Seattle. Tacoma. Portland. Spo.
kane, Vancouver. y. c.. and the
smaller cities OF the state are rep.
resented az this hearing. tho com.
mission cannot doubt tho import.
ance OF the new road to the state
said Bangs One objection raised
az tho last hearing year ago was
that tho action represented few
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1923-06-19

\. S. Kerry. a member OF the
executive committee. said that dl.
reriors o. the Hotel corporation
could no: be expected TO Continue
un1er pr.scpt conditions ani that
II the bogdho,ders do not speedily
make it possible 10 continue with
the enterprise. they may be cx.
pectcd to resign.
Judge Thomas Burke declared
that II tho hotel is not built II will
be n calamity 10 Seattle. the like
of which the city has not known
since the great fire. Seattle, if 1t
fails, he sale, win be the laughing
stock OF the country.
President waterhousc explained
the conditions that had made the
Turn TO Page 0. Column q
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1923-06-19
Apathy of Bond Holders
Threatens Hotel Project
Waterhouse Warns Smaller Hotel Means
Possible Liquidation of Corporation

Apathy displayed by holders OF
the original s2,soo.o 900 bond issue Of
the Community Hotel corporation
threatens tho entire project TO build
"A tourist and community hotel OF
the highest type IN Seattle. Il was
explained Monday by Frank Water
house, president, and members OF
the executive committee OF the
Hotel corporation 1T q meeting
called by President Watcrhouse.
Holders Of only about $4,000 OF
tho original issue OF bonds had re-
turned their written consent TO the
plan proposed for another bond is.
sue OF si50o.0 900 TO 100000 10
meet the increased cost OF larger
and finer hotel than first contem.
plated. he said. Holders OF an equal
amount are yet TO be heard from.
And unless the subscribers to the
original issue do return their for.
NAL consent to-, the plan for Il
nancing the larger hotel. said
Watcrhousc. tnerc ~ nothing 10 do
but build an inferior hotel. which
will not be agreeable TO the com.
pany to which the Hotel olympic
Is leased and which they probably
will not accept. or abandon the
project and liquidate the Hotel cor
poration, with the loss OF the money
thus far extended,
After the situation had been ex.
planned by watcrhouse, motion
was carried that the division com.
manders and other workers who
conducted the original sale of bonds
shou be organized To call imme.
diately or bondholdcrs who have not
returned their consent and on.
duavor TO secure their agreement.