davidaulloa/AmericanStories huggingface dataset:
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-26
BY ROBERT TOMPKINS.

Copyright. by The San Antonio Light
New York, March 2G.-Until he
casts up his accounts tomorrow MOI
even Clarence W. Saunders can tell
whether or not he has taught Wall
street a lesson" The Memphis IN
dividual who engineered the corner IN
Piggy Wiggly stock then Will know
just where he stands.
The shorts, by ruling OF the New
York stock exchange have until the
close of business today TO settle all
contracts entered into before trading
in the. stock was suspended last
Tuesday. BY tomorrow morning
Saunders will be able to tell how
many shares still are due him and
whether he will be compelled to force
the matter into court to secure COM
plete satisfaction of his transactions.
Like every corner, that in Piggy
Wiggly had its basis in the belief of
certain spectators that the stock
was selling too high. Therefore they
sold stock which they did not own
to Saunders and his associates. in the
expectation that they would be able
to buy it bacl; later at lower price.
In other words they "sold the stock
short"
How Exchange Works.
Under normal trading conditions on
the stock exchange when a bloc; of
stock is sold. the seller must deliver
the certificates for the number OF
shares sold to the buyer within "a
hours when he receives a check for
the same. If he fails to do so the
stock may be bought in by the buyers
at the open market "under the rule. y
Often, when the buyer has no de-
sire for immediate delivery and the
seller no present desire for the check,
the stock may remain undelivered for
n time by a sort of mutual consent.
In other words. a "short interest $
is built up. But when demand is
made by the buyer actual delivery of
the certificates must be made or the
penalty suffered.
Also il the buyer demands i'm
mediate delivery the short who sold
something he did not possess. may
borrow a certificate, occasionally
paying a small premium for its use
and so make delivery without actually
owning the stock. He must however.
be prepared to return the shares Dor
rowed on demand even il he has to
buy them in order TO do so.
Sold NOn-Existent Stock.
In the case Of Piggy Wiggly,
Saunders and his associates. con
trolling a large block of the shares of
the company. allowed the shorts to
sell him more stock than existed. He
permitted "shOrt interest" TO be
built up. in some cases loaning the
spectators the stock to sell back to
himself.
Saunders takes the position that as
he controls the only source Of supply
the shorts must buy from him at his
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-26
PIGGLY WIGGLY HEAD WILL
KNOW TUESDAY RESULT OF
STOCK EXCHANGE DEALINGS
"Shorts" Have Until Close of Business Monday to
Settle Contracts and When He Casts Up Accounts
Saunders Will Be Able to Tell Whether or Not
He Has Taught Wall Street Lesson"

own prize the stock due him which
he has bought at their value. So far
Wall street does not seem TO have
taken Saunders lesson much TO heat.
Others in the past have engineered
corners and have not always succeed
ed in getting away with the profEs
they had expected.
In the case of the famous corner
in Stutz Motors in which Allan R,pn
was the leading figure. this was the
case. In March. 1920, spectators
sold Ryan 10000 more shares than
the entire capital stock of his CDm-
pany. The price rose far above 500
a share and trading in the stock was
suspended by the exchange just as
in the case of the Piggly Wiggly
stock. Ryan came to settlement
privately with the shorts about three
weeks later, resigned from the ex-
change and StutZ was withdrawn from
the exchange list. Later Ryan was
forced into bankruptcy, not through
trading in StutZ, but as result of
other transactions.
The Northern Pacific Corner.
The historic corner in Northern
Pacific was the result of a different
set of circumstances. 1t grew out
of n contest for control of the road
in May, 1901 between the Hartman
interests, representing the Union
Pacific and James J. Hill, of the
Great Northern. For months brokers
representing +. II. Hartman had been
quietly picking up Northern Pacific
shares.
When the Great Northern control
realized what Hartman was after
they started TO buy in the open mar
ket enough shares to assure them
control. Northern Pacific advanced
steadily from SI5 to $40. Specula-
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-26

and the other cOntending that the
price of suga ris soaring unnecessar-
lily.
Secretary Hoover is alive to the
dangers of excessive oil and sugar
prices and Attorney General Daugh-
erty is keeping watchful eye on the
probable prices Of coal under the ar
rangements to be in effect next year
between miners and operators.
1t looks truly as if the high cost
Of living, whiel played such a prom
inent part in sweeping the Democrats
into power in the House of Repre-
sentativcs in the middle of the Taft
administration and which helped con-
siderably in putting the Democratic
party in power in the White House
as we'll as both branches of Congress
in 1912. will be in the foreground
once more in 1924.
The Republican orator will exhort
the people to 'sit steady in the obat
and don't rock it." while the Demo
Gratis will endeavor to tempt the cleo
torate by detailed Renaissance OF
'the good old days of 1918 and 1915
! under Democratic rule"
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-26

tors seeing the stock higher than they
thought it should go began to sell
it short. This short interest was
not large. but Hartman and Hill
needed every share and between them
bought up more than the entire capi-
tai stock of the company outstand-
ing. On May II Northern Pacific
rose from $40 TO $1,000 share.
One small trader on the Consolidat-
ed Exchange who was short 80 shares
had his stock bought in under the
rule" and lost nearly 100000. Some
shorts had the nerve TO sit tight and
next day settled at $50 which was
the figure agreed upon by the Great
Northern and the Northern Pacific
bankers as settlement price. The
Great Northern interests were victors
in the race for control of Northern
Pacific by a slight margin.
Letters Grain Corner.
Perhaps the most noted attempted
corner i'll grain was that of Joseph
Letter, nearly % years ago when he
attempted to corner wheat. He bought
up. as he thought. enough Of the May
option TO be able TO force a settlement
on any terms he choose. He made
the mistake. however, of forcing the
price so high that reserves which
ordinarily would have been used for
seeding purposes were drawn into the
market, wheat was imported from
Canada and other countries. grain
which had been sold to England was
re-sold and shipped back TO this coun-
try, and under this flood of supplies
the attempted corner collapsed.
A few years later Daniel Sully at
tempted to corner the cotton market
and failed for similar reasons. He
might have succeeded il he had been
satisfied with less exorbitant price
level. He put the price so high. how
ever, that it attracted supplies from
unaccustomed and unexpected quarters
and Sully's bubble collapsed with
disastrous effects to himself and those
who followed him.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-26

What is home without mother?"
An incubator. Pelican.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-26
HEIRESS TO WED
Cartoonist, Undertaker's Son, viii
Marry Childhood Sweetheart.

Pasadena. Cal. March 26.-Thc
wedding of Miss Dellora Angel, heir
css TO nearly. S4O,0000.000, and her
childhood sweetheart, Lester Norris.
son of an undertaken at st. Charles,
H., will take place some time this
week. according to the latest infor-
nation from the Angel winter home
at Altadena. suburb.
The groom-elect, who is a cartoOnist
of Chicago. is a guest at the Angel
home. having reaching Southern Cali
fonia last Friday. but interviewers
have not as yet succeeded in corncring
him.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-26

which, by its hue, conveyed a 49,
message to his associates as they pd
ed outide the window.
Eight men and three women, mi
Of whom are Australians, are in q
tody. They are charged with u ID
list of swindles practiced on hoi
sick tourists, who. glad to meet SO
one who knew English. soon fol
themselves engaged to distribute la
sums of money among the poor vi
the assistance of the new foq
friend.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-26
DRINKS WERE SIGNALS
Arrests Expected to Break Up Gang
Of Confidence Workers.

Paris, March 26.-The Paris police
have arrested band of confidence
workers who used colored drinks as
their means of communication. When
one member of the gang had marked a
victim he went to a certain cafe OPP
posite the opera and ordered drink.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-26
PEACE AGAIN SOUGHT
Will Resume Conference With Turks
About April -.

Paris, March 26.-The peace con-
ference aimed at bringing about peace
with Turkey will be resumed in Con-
stantinople about April u, according
TO the best information available in
diplomatic circles.
Lord Curzon, the British foreign
secretary, will not take part in this
renewal of the Lausanne meeting.
Great Britain will be represented by
Lieut.. Gen. Charles Haring III. com
mander of the Allied forces at Con
stantinople. and by Sir Horace Rum
bold. British high commissioner (:
France by General Pelle, the French
high commissioner, and the United
States by Rear Admiral Mark l..
Bristol as observer.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-26

EVERLASTING FLOOR PAINT
will stand more hard usage than kind
you used before. LURE & HOLL-
MAN co. 21O Ave. C.-(Adv.)
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-03-26

Odd Size Blinds-just the thing for
Summer Houses. Play Houses. Wash
Houses. enclosing Back Porches,
Chicken Coops. etc. While they last
at soc per pair. ED. STEVES &
SONS. Lumber and Building Stores,
10 f. Commerce Street, Phone
Crockett 167. (Adv.)
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-06
LAUDS LLOYD GEORGE
Rabbi Tedesche Tells Accomplishment
of England's Premier.

Rabbi Sidney Tedesche was the
principal speaker at the April lunch
con of the Anglo-American Society.
Thursday. He spoke on the subject
of "Lloyd-George, the Many-sided
Man of Genius" and told of his rise
from obscurity to premier of England.
When Lloyd-George first went 10 the
House of Commons, Rabbi Tedesche
said. he promised to gain for Wales
some sort of home rule. Instead of
that. he accomplished a far greater
thing by bringing TO the country n
state of democracy that had never be-
fore been dreamed of.
Rabbi TedeSche said that Lloyd
George had always been fearless in as
Serting his convictions, and said that
it was his plan that had won the
World War.
Another speaker was Miss Made
line Josephine Russell, who was in
trOduced by Mrs. G. L. Robertson,
chairman of che program, as an Amer
lean girl who had spent most of her
life in Scotland. Miss Russell gave
a detailed account of a trip through
Scotland on bicycles by she and her
brothers. She also told of the life and
the customs of the people in that coun-
try. Mrs. Robert Scott sang a num-
Der of songs. and the national an
them Of Wales was sung. accompanied
by Mrs. Godfrey Hertslet. wife of the
British consul at st. Louis. Mrs.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-06
GET MORE MARTINS
Pilots TO Go East to Get Big Bomb
ers for Kelly Field.

-Four Kelly Field pilots will leave
within the next few days for Wash
ington and then TO Langley FIELD
Virginia, from where they will pilot
back TO Kelly Field, two Martin
bombing planes, it was announced
Friday. 1he pilots have not been des-
ignated.
Two Martin bombing planes at
Kelly Field will make total OF four
ships of that type that are now III
service with the Dambardment section
of the school group. Another Martin
bomber is at the Air Intermediate De
not but has not been set up.
Mechanics at the Air intermediate
Depot have just completed setting up
another GAN battle plane for the at
tack group at Kelly Field and as soon
as the ground hardens in front of the
test hangar at the \. l. ID. the battle
plane Will be rolled out, tested and
If found satisfactory, delivered to the
attack group. This will make four
GAN triplanes now in service with
the attack group. There are five other
ships of this type at the A. L. d..
that have not been set up.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-06
COMB SAGE TEA IN
HAIR TO DARKEN It
It's Grandmother Recipe
to Keep Her Locks Dark,
Glossy, Beautiful.

The old-time mixture of Sage Tea
and Sulphur for darkening gray,
streaked and faded hair is grand
mothers recipe, and folks are again
using it to keep their hair a good,
even color, which is quite sensible,
as we are living in an age when a
youthful appearance is of the greatest
advantage.
Nowadays, though, we don't have
the troublesome task Of gathering the
sage and the mussy mixing at home.
All drug stores sell the ready-to-use
product, improved by the addition of
other ingredients, called "Wyeth's
Sage and Sulphur Compound" It is
very popular, because nobody can dis
cover it has been applied. Simply
moisten your comb or soft brush
with it and draw this through your
hair, taking one small strand at a
time: by morning the gray hair dis
appears, but what delights the ladies
with Wyeth's Sage and Sulphur Com
pound is that, besides beautifully
darkening the hair after few appli-
cations, it also produces that soft
1ustre and appearance of abundance
which is so attractive.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-06
SAVE BIC SUM
To COUNTY BY
NEW BOND PLAN
Will Refund Outstanding
Issues, Cut Rate and
Retire Annually.
DATES ARE CHANGED
Taxpayers Will Save S7l9,-
65S Through Proposed
Deal.

A saving Of $719,6JS to ReXar
county in interest on outstanding
bonds, within a period of thirty years
will be effected through a refundins
plan developed by County Judge
Augustus McCloskey. under which the
interest rate is TO be reduced to 81
per cent and proportionate numDer
of the bonds will be retired annual
". At the present time the bonds
bear ) per cent and are payable nj
expiration. which is in 1888.
The issues affected are SI1.OOO
court house bonds. $4,000 poor farm
bonds. 100000 bridge bonds and
S5JO.OOO special road bonds.
Judge McCloskey has been working
on the plan several months and has
it ready TO present to the commits
sioners for approval.
He explains the proposal as follows
I'VE will exercise the option OF
calling these bonds in for payment at
par and interest The county will not
he able to exercise this option in
full by reason of its sinking fund not
being large enough to retire sufficient
bonds to refund these bonds. The .
per cent bonds will be reduced 10
4 "a per cent and payments of S1I.
900 to 100000 will be made yearly.
Change Maturity Date.
"Under the plan of refunding, II
will mean a net saving to the county
over the thirty year period of SI19,-
65S.33, or within SJ0,341.61 of pay
ing for both principal and interest
as against the present amount of
interest only. If the county failed
10 exercise the option and continue TO
pay interest OH the full amount OF
bonds at ) per cent until maturity,
the county would pay in interest
alone 81 ,312.500 in addition to the
principal. Under the plan submitted
the county will only pay interest TO
lhe amount of SJ92.S41. which to-
Eether with the principal of $4,000
will total only 81 1862 .941 or as stated
cfore only SjO,341 more than the
total interest alone at per cent and
l,;rty years.
in working out the plan we have
o." 10 the annual maturity date April
i"s;cad of December 10 as now
- ihp bonds outstanding. BY
- there is an additional eight
~ interest saving each year
i W have not taken into reck.
.. hut for the first year alone
an; a saving of S24.2S3. In
words. instead of the county
interest OH its bonds from
10 to December 10 it is en-
y 10 take advantage of the fact
lax collections are all on April
! instead of permitting this amount
- remain in the sinking fund, the
principal is reduced eight months
earlier.
We have given much thought and
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-06
FORMING CITY TICKETS
One Complete and One Partial Ticket
Reported.

One complete and one partial ticket
for city offices in opposition 10 the
Peoples Ticket headed by Sheriff John
W. Tobin are unofficially in the field,
according to reports in circulation
Friday. Herbert PEARS admitted over
the telephone that he expects TO run
for fire and police commissioner on Il
ticket composed of l.. Il. Stoner for
mayor. Willard Simpson for street
commissioner. and +. G. LeSturgcon
for park commissioner.
ID. $. Davenport, state representa-
tive. said he expected TO file with the
city clerk early next week as a can
didate for mayor. with the following
men making up his ticket: William O..
Rieden for streets. Gentry Taylor for
parks; James Donnell for taxation
and Bob Corners for fire and police.
1t is understood that the StOner
ticket is still casting about for some
one TO run for commissioner OF taxa
ton.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-06

care TO the maturities as fixed in the
statement submitted, our idea being
TO permit the county TO retire a sub
stantial amount OF bonds annually
and at the same time reduce the tax
rate each year and thus relieve prop
erty owners of the seemingly ever IN
creasing taxes.
In the plan as submitted, the
county will by reason of taking adj
vantage of tins optional date, be able
to reduce its tax rate for 1923 based
on the assessed value for 49,.
In order to comply with terms
contained on the face of the bonds,
it will be necessary to advertise OO
days prior 10 the optional period III
local papers and tine Bond Buyer.
Issue New Bonds In September.
at will also be necessary to have
on deposit or necessary bank ar
rangements made with the Seaboard
National Bank of New York $50
900. As the county will only have
about 100000 it will require SIIO,-
900 over and above that amount.
About September 10. 1923, it will
also require certain legal proceedings
of the court of its intention TO call
these bonds and the manner of re-
funding the old bonds into new bonds
bearing a smaller rate of interest.
while it is not a legal require
ment. but by reason of general prac-
tice it has become, you might say
necessary. to secure if possible the
names and places of residence of all
the present bond holders, and in order
to get the most satisfactory results
the usual method employed is to have
some one sent to the place Of regis
tration of the bonds and secure this
data"
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-06
ON SOLO FLIGHTS
Primary Class at Brooks Advances
Another Step.

Students at the Primary Flying
Schools Mt Brooks Field advanced an.
other step in training this week when
they began making solo cross-country
flights. Nine students have reached
this stage. They leave Brooks Field
at half hour intervals, so they are
thrown entirely upon their own re-
sources in finding their way. They
fly by the compass course.
The first flight was made to Seguin,
Thursday the students flew to Con-
zales. and Friday TO Smithville. All
flights have been successful with one
exception, Lieut.. Langdon C. Catlett,
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-06

student officer, was forced down at
Seguin Thursday. The ship nosed over
on its back but the pilot was not in
jured.
An average of three or four cross
country flights are made by students
from Brooks Field daily.
The flying class will complete its
course on May 20, and it is estimated
that there Sill be 80 student officers
and 80 cadets to graduate.
Maj. Carl T. Book. and Capt. Rob
ert c. Candee, Brooks Field officers,
flew to College Station Thursday to
confer with officials at Texas A. & NJ.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-06

Hertslet. in a short address, told of
her impressions of America and es-
pecially of San Antonio, and urged
that Americans should keep the race
pure. Mrs. Lewis Krams-Beck read
letters of appreciation for the presen-
tation of the Sulgrave program which
was given on Washington's birthday,
and also one making an appeal for
clothes for the poor of England.
As a closing number, Miss Teri
Howe danced the Highland fling. ac-
companicd by Mrs. Edward McClan-
nahan.
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-06

Spring Time is here and Repairs Of
various kinds will be necessary-also
Frightening up with Paint, etc. We
are in position to furnish just ex'
actly the materials needed for the job
Prompt and courteous service. Cal
Crockett 167, or visit our Moderr
Lumber and Building Store. Ed
STEyES & SONS, 10 e. Commerce
lSt.-(Adv.)
San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-06

concerning the students from there
who are to attend the X. o. I. {. at
Brooks this summer.
The Birmingham age-herald., 1923-12-23
ALABAMA COUNTIES
 TAKE UP DRAINAGE
Projects Embracing 40,481 Acres And $478,007 Un-
 der Way In State
STATE CAPITAL BUREAU l
 THE AGE-HERALD ]

Drainage districts organized in four counties in Alabama during 1920 to 1922. inclusive. embrace 40.4S1 acres and are expected to cost S47S,007, according to information secured in. 1923 by the division of agricultural engineering of the United States department of agricul- ture Construction of the drainage works has been begun by districts comprising 29,245 acres, to cost s314900, and may have been com pleted for a part of this area. In 54 counties. no districts were or ganized. From the other nine coun- ties, replies to the inquiries were not received.
 No drainage districts in the state had proceeded to the point of begin ming construction by January 1, 1920, according to the fourteenth de- cennial census, which did not pub fish statistics concerning any that may have been organized. Probably the figures given here include all drainage districts in Alabama.
 The foregoing statistics were se- cured by correspondence. from the judges of the probate courts of the counties. The inquiry asked that fol the districts established In 1920 to 1922, inclusive, there be stated the area, final cost, and whether con struction had been begun.
 The four counties in which drain age projects were under way or con templated are: Fayette, Lamar, Ma rion and Mobile.
The Birmingham age-herald., 1923-12-23
FATALITIES OCCUR N GUN BATTLE
Two Bystanders Shot In Gun Duel Between Deputies
 And Negro

FORT DEPOSIT. Ala, Dec. 22.- Especial. )-The town authorities re- ceived wire from Calhoun this morning that negro man named Jean Sheldon had badly beaten and shot at negro woman and was last seen coming in the direction of Fort Deposit. P. q. Barganier and Don Mastin found him on the railroad short distance from the depot and attempted to place him under arrest The negro drew a pistol and fired three shots at each of the officers as he ran away. About Is shots were exchanged in the running fight. The officers escaped unhurt, but 1t ~is thought that the negro was wounded.
 In the mfxup 1t seems that two in- nocent negroes on their way to town were struck by flying bullets, one in the arm and the other receiving burn on the head as bullet ploughed through his hair. The fugitive made his escape to the thick woods north of Fort Deposit. The sheriff of Lowndes county was inn mediately notified as well as the sheriff of Montgomery county. A large number of citizens of Fort De- posit are heavily armed and will join the sheriffs in a man hunt.