davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1924-05-09
LATEST NEWS AND QUOTATIONS OF THE FINANCIAL M
Local Stocks
SALES.

SALES.
FURNISHED by w. B. Hibbs & Coz
Washington Gas 5's. $1,000@95
$5OO@95. $1.OOO@951s, $1,O00095,
$1,0O0@95.
Capital Traction. 6@sSh, 6@93h
Washington Railway and Electric
preferred. 1O@74, 2@74. 1904.
Washington Gas Light, 10@47R
10@47%, N6@47%, 10047%, 10@47A
After call
washington Gas SIS, $1.O0o@s5
$1.OO0Q95, $1,OOO@95, $2,O00Q95
S1,000@95.
Washington Gas 6's. 1888. $1,000
1908, $300@100as.
Capital Traction Company, 1O@
93h.
Potomac Electric cons. 5's. $1,000
@97.
Potomac Electric 6's. 1853. $4,000
1o2.
washington Gas Light, 10@47N
Washington Gas 6's, 1853. $1,000
1908, $300@100%.
Call loans-5@6 per cent.
The Washington times., 1924-05-09
BONDS.
s SHOW GOOD
GAINS
American Bank Support Re-
sponsibIe for Forward Move
in These Bonds
By MUNROE ROBERTS.
Copyright, 1924, by Cosmopolitan
Newa SerViceA

news SerVlce.)
NEW YORK, May 9.-Since the
franc embarked upon it's senSG-
tional recovery following and
establishment of the 500, 900. 900.
American credit for the purpose
of supporting that currency, French
national and municipal bonds listed
on the stock exchange have made
a steady advance averaging about
5 points, an examination of price
movements showed. 1t should be
understood that the rise in the ex-
change did not in itself mean a
corresponding enhancement of the
value Of that country's obligations.
as these issues are listed in dollars
and, of course, are not bound to
fluctuate in keeping with the vari-
ations of the country.
The conditions, however, under
which American banking support
had been furnished, were chiefly
responsible for the forward move
in the bonds. These pledges consisted
OF assurances that the Dawes plan
would be accepted and that taxes
would be imposed which would 1elp
to balance the French budget. Res
toration Of Frances credit status.
In other words, was the principal
impetus to the appreciation in mar.
ket prices. Meanwhile, progress
mas been made in adjusting the
reparation difficulties through the
acceptance Of the Dawes report by
all nations concerned in the war
indemnity problem.
In many quarters French govern.
ment bonds are still considered at.
tractive speculative investments even
In the face OF advances recorder. The
bonds possess unusually heavy sink
ing funds and the fact that they
have been selling at a considerable
discount has enabled a faster re-
duction of outstanding obligations
than expected when the issues were
floated. Purchase by this fund has
also tended to stabilize the market
prices Of the bonds.
Public offering was made today
oy Dillon. Read & Co., and Laden.
ourg, Ihalmann & Co.. of an issue
OF 100000 Florida Western and
Northern Railroad Company first
mortgage sinking fund Z per cent
gold bonds at. par.
Other Offerings included 81, 500. 900
Pacific Steamship Terminal Com.
pany first mortgage Z per cent
bonds, due 1881 to 1914 at par, and
$1.250,00 Central Manufacturing
District, Inc. of Los Angeles first
mortgage real estate improvement
bonds, series B. 61a per cent, due
1927 to 1889. priced slightly below
par.
An issue Of $70o.O0 city Of Kan.
sas City, Kan, Ak per cent water
works and electric light improve
ment bonds due May l, 1874, was
offered at 102 and accrued interest
to yield about $50 per cent by A. r.
Leach & Co., Inc, and associates.
The Washington times., 1924-05-09
!. c. c. SUSPENDS PLAN
ON PETROLEUM RATES

Pending ar investigation, the In.
terstate Commerce Commission to.
day ordered suspended until Sep.
TENDER Z, the plan TO establish new
freight rates on petroleum and its
products in carloads from produc-
ing points In Arkansas, Kansas,
Missouri and Oklahoma, to points
on the Mobile a Ohio, in Illinois.
which would result in increased
rates In some instances.
Under the proposed plan, the
rates from Okmulgee. Oklahoma. to
East Carondelet would he increased
from 90 cents to 80 per 100 pounds.
while from Okmulgee to Cairo
would he increased from 33k cents
TO % cents.
The Washington times., 1924-05-09
JOHN B. TAYLOR HEADS
SECRET SERVICE GROUP
FURNISHED by W. p. H,hh. a.

INDIANAPOLIS. Ind, May g.
John B. Taylor, Philadelphia, was
elected president of the Interna.
tional Secret Service Association at
the closing business session of the
convention here.
Other officers elected were: Irwin
j. Smith, New York, first vice
president, and j. H. Haager, Louis
vile, second vice president.
The directors reelected include
Fl. II. .Peeg. Altoona, Pa: James
Ray, Boston, and Thomas A. Nc.
Quaide, Pittsburgh.
The Washington times., 1924-05-09
N. Y. Cotton Market

NEW YORK, May 9.-Steady
Liverpool cables and unfavorable
weather reports caused steadiness
at the opening of the cotton market
today Prices advanced from to
IA points on buying by Wall street,
spot and foreign interests. June
options, however, were heavy, de-
clining 20 points to 29.40.
May opened at S0.26, up 8 points;
July at $3.50, up, IA points, and
October 24.75, up 10 points.
The Washington times., 1924-05-09
GIFT TAXES.
(Sliding scales.)

The Walsh (Senate) plan pro.
vided $4,000 exemptions on gifts
to a child or parent and $50, OOC
exemptions on husband and wife
gifts. The Longworth plan car.
ried no such exemptions.
Inheritance Taxes.
The Inheritance taxes followed
the same schedule as for gift taxes
but the Walsh plan, as shown
above, would apply only to in.
heritances received by a husband
wife, child or parent. The Demo.
cratic rates would increase Is pe1
cent on inheritances received by a
brother, sister, nephew or niece
and would be so per cent higher
on inheritances for all other rela.
ttVes or strangers. The Long
worth rates would apply to every.
body.
The Longworth bill proposed a
straight tax of 1914 per cent upon
all net incomes of corporations.
The Jones (Democratic) plan
placed a straight normal tax OF
8 per cent on all corporation NET
incomes but added a sliding scale
surtax, ranging from one.fourth Of
] per cent UP TO 40 per cent upon
"undtstributed net incomes" This
surtax would invsude. an indirect
tax upon stock dividends. which
would be grouped a. coming under
"undistributed net incomes"
The Washington times., 1924-05-09
Reserve Statement.


The consolidated statement Of con-
dttion of the Federal reserve banks
on May Z, made public by the Fed
eral Reserve Board, shows a net re-
duction Of $4,000, 900 in earning as
sets, decreases of $37, 10000 in hold
tngs of acceptances purchased in
open market and Of $6,9O0,O00 in
discounted bills being partly offset
by an increase of $9,200,000 in Gov
eminent securities. Federal reserve
note circulation increased by ST.
100000 cash and reserves by &c..
100000, while deposit liabilities de-
clined by $11,00O,O00. .......
The New York Reserve Bank re-
ports an increase Of $40, 100, 900 In
holdings Of discounted bills, Chicago
an increase Of $9,4OO,OOO, and Min
neapolis an increase of $500, 900. The
remaining banks report smaller
holdings Of discounted bills than the
week before, the largest reductions
being as follows: San Francisco.
$40, 400, 900; Atlanta, $4,000, 900; Bos-
ton. $5,600.000 st. Louis, $4,000, 900,
and Philadelphia, $4,300,000. Paper
secured by United States Govern.
ment obligations increased by So
100000 and on May aggregated
$167. 100000. OF this amount &c.,.
100000 was secured by Liberty and
other United States bonds, $57 ,900,-
900 by Treasury notes, and &c..
100000 by certificates Of indebted.
ness.
All Federal Reserve banks report
smaller holdings Of acceptances pur-
chased in open market, except At
lanta, which shows an increase of
100000 The New York reserve
bank reports a reduction Of $751;
SOC, 900 in its holdings Of acceptances
Government security holdings in
creased by 100000 during the
week, an increase Of $40, 900 in
Treasury notes being partly offset
by an aggregate reduction Of ST.
100000 in holdings Of bonds and
Treasury certificates.
The Washington times., 1924-05-09
Today's Bond Market.

Rep Req + & 4 Ssi;v'a As''
Rep. Of Brazil IS. ................ $50
Canadian Pacific Ry. deb. ls..... s0E
Canadian Ry. 81 26.............. 100 L
City of, Copenhagen 5hs.......... 90
Rep. of Cube Cts. 6hs......... 9SM
Dutch East Indies Sc 's2......... e3H
Dutch East Indies eS '47......... s3h
french Govt. s................ s5%
japanese Govt. g. 'ii...:..:... ~
Ne pSersH 81" g.: iS Sii:,.......:. s soh
city Of Prague TVS, '25.. ....:.. IS S."
Paris-Lyons-Medi. ctfs IS, '68.... 71%
Dept. Of Seine Is. az: :......... s7K
Swiss Confederation So, o.. SIX
swiss CONGREGATION IS '4O...... 1I2
Uruguay Be, 40. ................. 1913
q. King. Of GRIT. Britain 6hs. '29 1oS Y
a. tc King; Of GRIT. Britain 6hs. 81 100 :
Amer. Agricul. Chem. 7Mls...:... So
Antoh Jurgen 6s................. TN
AArmour Co. Us. :............ sSM
Hnerican Smeiters 6s. ........... 104
nnianuc Coast Line 7s........... 1861
5arnsdal Corp Ss.............. 08h
5eil Tel: of Penna. 6s............ 98E
P s.o'- O0nio' a.. ...:.............. SbK
S SsId9-0 Ohio So. rs ............... $50
Betniehem Steel 5s......,, SO
CIeveiandm 1I steel s.. :....:....... 9s&
Chic. Eastern Ill. Ry. 6s. 7lh
anaconda Hhs Copper Mining Co. S.. s6E
Chile Copper Co. ST.. 100 Z
c chhtssSs T1iGn o ssssion .Hs: sS*
Chesapeake & Ohio cv 4hs. saE
mesa. Il Ohio CIV 6s, '46 94S:
Guban-American Sugar S. al. 1915.
Delaware & Hudson So; CIV <: az SsS
Duquesne Light Mfg. Co Sc, 10. 10+ s.
Erie r.. r. Is (generlene) SSis
GREEN Gme1re so Ge' q WIS Fuel ahs 1887: soS
Green Bay 4 west r R 5s, : :SS ' SO 5
Grand Trunk Of Can. r. 1888 ia
Good y. T. & Rub. Co. IS iS3i.. ioS
1000 year 7. q r. Co. So 1871. lis
Hudso sy N SnoS Co s. ,o is"'....,. 1oSH
Hudson Manhat. I'd s. 1s67. "a
International Paper Co. A IS, i947 SS1:
INT INT E Rap; Tran To1,. Co, I'd; IS; 1880. ss
Int Great N NoTthn Ct IT. g. 1872 s5!s
Ajax Rubber Co. s.. 1886. ... so
kanass Gas ss, 1851. ........... $50
<; c; Power Pow. 81. 1862; ....::.. six
n, (. . 7. Ry. al s.. 81 81 o. 1859 ssx
NJ. X. & T. Ry. SIS. "a ....... 6Sis
Montana Power Co S. 'l3..... S5Iz
Missouri nnU, Pacific Ry:; As, '76....... 57%
~ IT'S
NJ, st. l.. & w. 6hs (biK) 81 1oz L.
Midvale Steel IS. SO S8L
Northern Pacific Ry So, 2047. e
Northern Pacific Ry. &c, 2047. l04
Pac. Gas & Elec. Co. 5s.. asx
Philadelphia Co. i'd iU1 x
Pan. American Pete 7s... 1V1
Pere, Marquette Ry. Dc. ........ 95%
Public Service of N. j. 6s.,.. ssh
Republic Iron q Steel Co 6hs. 90
Rio de Janeiro Ss...... %
Z. s. Rubber Is .... S0G
Seaboard Airline Co A. 6sJ 62%
Seaboard Airline Co. 6s.. 7SE
st. Louis g. San Fran LIST 6s $40
80. Ry. Gen. refundinR 4s 70
Southern Ry. LIST 5s. N0%
S3uthern ny: Shs.............. 104h
Chic. Milw. & st. P. DB 4s., S2E
Chic. Milw. & ST. P. CIV 6s.., Sac
Sinclair Crude OIL 6s 9eE
Third Ave. al. IS 1860. ..... az
S ELHn rover Ss 1914. ...... 80 ~
Union TANK Car Is 1880. ...... 104
Virginia Caro-. Chem 7As W '37. 30G
Virginia r SIS 1862. 95 .:
W c & b AVS 1s4s. All
Wilson Co LIST s. l941, S4H
Wilson Co CIV Sc 1928. 81
Western Maryland Let -, 81 S2x
-. .. steer Corporation IS, '63.., 1903 4
youngstown 8. g. T. Sc. a.. IS
The Washington times., 1924-05-09
SEEN SURE
FOR REVENUE
MEASURE
Shoots Refusal Farther to
Oppose Amendments Is Held
Significant
CONTINUED from First Page.)

NonClnueu from flrsC Fage9
Simmons DENY Of North Carolina
plan for normal and surtaxes;.~
Jones Oem) of New Mexico, cor
poration taxes; the Walsh Dem
Of Massachusetts,, gift and inheri.
lance taxes, ana the Mcclellan
Dem) Of Tennessee, proposal max.
ing public all tax returns.
Another Compromise
The bill, as it goes to the White
House, undoubtedly will be a com.
promise between these Democrats.
rates and the Longworth compro.
mise schedule adopted by the
House. A comparison Of the two
plans follows:
NORMAL TAX.
The Washington times., 1924-05-09
Install A. I. b.

Officers Of the Washington chap
ter of the American Institute OF
Ranking were installed last night
following the annual election in the
chapter rooms, New Masonic Temple.
Harold w. Burnside, assistant cashier
of the Farmers and Mechanics Ma
tional Bank, was elected to succeed
James c. Dulin, jr., Of the Ameri-
can Security and Trust Company,
as president.
Others elected to office were: r.
Jesse CLANCY, Commercial National
Bank, first vice president; T. Hun.
ton Leith, Security Savings and
Commercial Bank, second vice presi-
dent: George M. Irelan, Riggs Ma
kional Bank, secretary; Joseph D.
iYerkes, Federal-American National
Bank, treasurer; William w. Win.
stead, National Metropolitan Bank.
assistant secretary; Garrett M. Van
Hoesen, Second National Bank, chief
counsel. The following were elected
to serve as members Of the board
of governors; r. C. Calvo, Liberty
National Bank; James c. Dulin, jr.;
John T. Fletchall, Potomac Savings
Bank; George Shisler, Security Saw.
1ngs and Commercial Bank; Miss
Lois A. White Federal-American Ma
tional Bank, and Miss Florence M
Willer, Riggs National Bank.
Mr.. Dulin closed his adnlinistra-
ton with a presentation to the
outgoing board of his annual report.
Reports of other officers also were
presented.
Following the installation Of Off
GERS, the meeting was devoted to
music and dancing. The election
last night marked the final meeting
of the chapter for this season.
The Washington times., 1924-05-09
Oil Stocks

Furnished by W. B. Hibbs & Coz
Evening star., 1924-01-30

vent their departure from the coun-
try.
The Senate's debate on political fea-
lures of the oil disclosures, after CEN
tering most of yesterday about MIR.
Coolidge and members of his cabinet,
finally brought into the discussion
the name of President Harding. De-
tending Mr.. Harding for transferring
control of the reserves to the In
terror Department, Senator Willis de-
cIared the dead President would not
knowingly have violated any law, and
the statement was accepted on the
democratic side.
Reads DENLY Statement.
Mr. Robinson read into the record
the Navy Secretary's statement that
he would pursue the same course
again in similar circumstances and
demanded to know of Chairman Len
root of the oil committee whether
he approved Mr.. Denby's action in
consenting to the leases. Senator
Lenroot replied that he did not. be-
cause he believed them illegal.
penbv In "a declared CARE Se's he WAS profoundly
convinced of the legality OF the
action" and also profoundly con-
vinced that it was for the best in
terests of the United States. he
contenied also that he was carrying
out the exact intent of Congress in
Conserving the oil. which he said
otherwise would have been COM
pletely or to a very great extent
drained. Mr.. Lenroot and other
senators took an opposite view IN
the debate, contending that the lease
of the reserves was question OF
noliCy which Congress alone had the
power to decide.
The principal motive that actu-
ated me-" MIR. DENLY said, was that
the oil was being lost to the govern
ment Besides, 1T would nave taken
ar least six months to deliver fuel
oil TO the Navy from the ground to
the coast. The purpose of providing
for oil storage at seaboard, contem-
plated in the leases, was IN order
that there might be an instantly
available war reserve Oh 1uel 1or tfie
feet"
Averting to the Robinson resolution,
the Secretary said:
II do not believe there are enough
votes in the Senate to pass a resolu-
ton Of that character. concerning a
been even suspected of any crooked
dealings. There has been no intima-
ton of malfeasance that / know Of.
Defends Roosevelt.
He declared also that he alone as
sumed responsibility for the Navy
Department's part IN the leasing, and
that no blame should attach to As
sistant Secretary Roosevelt.
MFR. Roosevelt is in no wise re-
sponsible for the action taken" he
said.
Because Of the turn ;of events
which has brought him under con-
gressional fire, Mr.. DENLY abandoned
his projected trip to Panama to
witness the conclusion of the winter
maneuvers of the United States fleet.
He said last night he would stay in
Washington, available for any call
that might come to him from any
congressional committee.
Senator Heflin, democrat. Alabama,
Evening star., 1924-01-30

said he regarded the republican
party" as responsible for the present
situation, and reiterated that he had
the impression and the conviction
that there had been an arrangement
regarding the oil leases before the
1920 election.
This brought a sharp rejoinder
from Senator Willis, who declared
there were those in the Senate and
out "whl, will prostitute an occasion
of this kind for little, petty political
purposes" Declaring that President
Harding had made an error when he
transferred the reserves from the
Navy to the Interior, Mr.. Willis said
he knew the dead President well
enough TO know that he never did
anything which he thought was not
for the good of the people.
"Was Fond Of Harding"
II cast no reflection on President
Harding" said Senator Hefiin, i WAS
fond of him. But the memory of
President passed the way that all OF
us must go cannot stifle the truth IN
this colossal fraud"
The resolution, offered by Senator
Wheeler. democrat. Montana, has for
its purpose the removal from the
cabinet of Attorney General Daueh-
|erty, because of failure of the De-
partment of Justice to begin prose
.cution both in the oil leases and
again st officials and others charged
with wrongdoing in connection with
the Veterans Bureau investigation.
The resolution recites that the Attor-
ney General has lost the confidence
both of Congress and of the Ameri-
can people. The measure went over
under the rule.
Would Confirm Counsel.
Just before adjournment the Sem
ate received from the House the
resolution appropr iating 100000
for tne employment Of counsel in
the annulment proceedings. and
Pres Cummins referred II to the
I appropria tions committee. lnquir-
ling whether President Coolidge pro-
posed to submit for Senate coufirma-
ton the names of the two lawyers he
lis to select. Senator Walsh said that
unless the Executive did so he would
!, be constrained to offer an amendment
to the appropriation resolution pro-
hibiting expenditures for lawyers
whom the Senate had not approved
Chairman Lenroot replied that he
assumed the President would sub
NIT the names, and indicated also
his belief that announcement of the
selection awaited adoption of the
, Walsh annulment resolution by the
Senate and House.
Evening star., 1924-01-30

the theatrical profession all his life.
and during the last ten years built
most of the famous Broadway the
aters.
Representative Bloom says he
knows that an excess price is charged
for theater tickets, which is "a
shame and an outrage" and Congress
ought to fix 1T so that the travelling
public would not have to pay a
premium.
His resolution proposes that the
Speaker appoint select committee OF
five members to investigate the sell
ing and distribution of theater tick
cts by the theatrical managers and
owners of theaters, base bail clubs
and amusements of all kinds to the
ticket spectators and ticket agencies
of New York city and other large
cities throughout the country.
This committee would be required
to report to the House not later than
the first Monday in June of this year,
with whatever legislation 1t deems
proper Subpoenas for witnesses to
be issued by the Speaker and served
nv the sergeant alarms of the House
are provided for in the resolution.
Evening star., 1924-01-30

Continued from Second Page.)
Evening star., 1924-01-30
WOULD LIMIT POWER
OF SUPREME COURT
University Dean Approves Requir-
ing Seven Votes to Declare Con.
gress Act Unconstitutional,

DR.. Albert II. Putney. dean and nro-
fessor of law at American University
declared in public lecture last eve
ming at the university that there is
much to be said in favor of the pro-
posed legislation which would re-
quire vote of seven members of
the United States Supreme Court in
declaring any act Of Congress uncon-
stitutional. Dean Putney was sneak
ing on the much-discusSed topic. The
Right of the United States Supreme
Court to Declare Acts of Congress-
Unconstitutional" which has been so
often questioned in both Senate and
House.
AT present" said DIR. Putney. lin
all close Supreme Court decisions one
Justice can declare unconstitutional
an act or Congress that may have
been passed by three -fourths
vote of the members of both
Senate and House and been
signed by the President In fact.
this is always what does happen, as
practically all the vital cases of this
kind in the past have been decided by
one vote-in other words, by five to
four decisions The requiring of seven
votes in reaching. such decisions ap-
pears To many|tO De the best way out
of the present controversy"
Dean Putney said the first occasion
when the Supreme Court had over
ruled action by Congress was during
Washington's administration. At that
time the court was asked to give ad-
vice on twenty-nine questions relat-
ing to foreign affairs from the StandA
point of international law. The court
refused to act. stating it had no right
TO give advice, only to take up
specific definite cases.
whenever the Supreme Court has
overruled acts of Congress, such
action has been taken on the grounds
that the legislation was in viola
tion OF the ConStitution--the Constitu-
ton being the higher authority. If
this view were not taken Congress
could pass measures that would
change the Constitution said Dr.
Putney.
Dean Putney showed that for a
period of forty-four years the
Supreme Court never nullified an act
of Congress. He referred to the
Dred Scott decision, which he said
was one of the most important ever
rendered and was largely responsib BILE
for the civil war and the thirteenth
amendment. He also touched on
many other vital rulings and recalled
how the Illness or absence of one
justice has greatly affected the action
of court several times in the past.
Evening star., 1924-01-30
RESOLUTION SCORES
TICKET SPECULATION
Bloom Moves in House for Investi-
cation to Curb Common
Practice.

Whereas the method Of selling
tickets by the theaters and other pub
lie places of amusement throughout
the country have caused the gouging
of the interstate travelling public and
have resulted in scandal, price-fixing g
and unfair trade competition" Rep
resentative Sol Bloom of New York
has introduced a resolution to stop it.
The resolution comes with special
grace since Representative Bloom has
been very intimately associated with
Evening star., 1924-01-30
Greece Having Long War Period.

Students of International affairs
have recently pointed out that Greece,
once the home of art and litera ature,
has for the last eleven years been al
most constantly at war. In that time
her credit has become very low in the
eyes of other nations, her treasury is
quite empty, and on three or four oc-
casions her king has been banished.
AS a result of the constant wars her
greatest problem in 1921 sass one of
taking care OF the refugees.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-19
CIVILIANS AR {
CALLED To
COL0RS
Gen. Rockenbach Asks Those
Between 10 and As to Join
Defense Day Army

Brigadler Geneyal s. D. Rocken.
bach, commander Of the military dis.
trict Of Washington. has issued a
call for volunteers for one days
service In the United States army
to take part In the observance Of
Defense Day, September IL.
General Rpckenbach calls upon
all males In good physical condition
between the ages. Of eighteen and
forty-five to enroll and parade with
the army units, the regular army.
the national guard, or the organized
reserves.
In outlining his program. Cen
eral Rockenbach urges EMPLOYERS
to invite their personnel to enroll
and allow them to be absent In
the afternoon for the time neces-
sary to participate in the exer-
cises.
Army Night" will be celebrated
tomorrow night at the Central High
School stadium at 1880 o'clock.
under the auspices OF the Com.
munity Center Department. The
Army Band win give its third con-
cert there.
Addresses on Defense Day win
be delivered by. District Commits.
sioner J. Franklin Bell, Major Gen.
eral Anton Stephan and Lieutenant
Colonel John Scott.
Arrangements for the program