davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
BOND ISSUES
AID LARGE
MERGERS
Outside Capital Needed in
Consumation of Indus
trial Consultations.
BY MUNROE ROBERTS.
Copyright, 1924. by Cosmopolitan
NAwa GarvicaN

News SerV1ce.)
NEW YORK, March 13.-Bond is-
sues have been an important aid to
the consummation of large industri-
al projects, such as the merger OF
manufacturing plants, segregation of
properties under court orders, and
similar undertakings, which could not
be brought to successful conclusion
without the cooperation Of outside
capital.
The mergers of manufacturing
companies primarily result in the
bringing together of properties de-
voted to similar work, thus increas.
ing the basis upon which mortgage
bonds can be issued. Through this
method, investment of capital can be
made use Of in carrying" the larg-
est share Of the costs of plants and
structures, while stockholders money
Is employed in the natural hazards
Of conducting and enlarging the bust
ness Of the expanded company.
The practical utility of new bond
issues in concentrating reorganiza-
ton of large properties is seen in the
Reading and Lehigh Valley segrega-
ton Of coal companies from railroad
companies. Without the cooperation
of investors, who are interested, not
so much in the yearly profits Of the
business as in the safe investment Of
their funds in. high grade mortgage
bonds, the task of segregation would
have been much more difficult.
In like manner adjustment bonds
of railroad companies have smoothed
the path to success in reorganizing
or merging financially weak or com.
peting lines. though the adjustment
bond is more highly speculative than
the mortgage bond. In few cases,
however, have owners Of adjustment
bonds had occasion to regret the
swapping of non-dividend common
stock for a security which, If it does
not guarantee a permanent income,
ranks ahead Of preferred stock, in
the division of net earnings Of the
roads.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
Commodity Market News.
BY Cosmopolitan News Service.

ny NOSHAVpOutdu MOVIE S0EVIc0s
NEW YORK, March 13.-Sugar
refiners who are in possession Of
large supplies of raw sugar stocks
are cutting prices from 10 to rs
points under formal quotations. The
important orefiners today quoted
sugar at S.8 cents a pound for
prompt shipment, against prevailing
list price of cents a pound. Euro.
pean liquidation has affected the
raw sugar futures market, and offer.
ings are more liberal than they were
Ia few weeks ago.
After running briskly into new
|high-price levels. the Brazilian cof-
fee market encountered the natural
reaction, which was initiated in the
Brazilian term markets. Heavy
liquidation by speculative long hold
|ers resulted in declines Of from II
to cent a pound since Tuesday.
Offerings of spot coffee was reflected
in the sharp decline of prices, the
losses reaching so points in some
cases.
There Is little change in the dairy
products market. The volume Of fu-
ture orders has not increased. Fresh
receipts continue in good quantity,
High-grade creamery butter is quot
ed at 49@49A cents, and lower
grades from 43 to AN cents a
pound.
General improvement is noted in
the demand for canned foods The
New York market has been particu.
larlv active since the close of the
national canned foods week, and re.
Ip'Hoements are being made by dis
tributors. The Lenten demand for
canned fish and vegetables is well
maintained. Domestic and foreign
rice markets are firm, with moder-
ate offerings Of both.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
STOCKS
NOW TOTAL
BILLIONS
Represented BY See
curities Listed on Exchange
Reach Enormous Figure.
By w. 8. COUSINS,

Copyright. 1894. by Cosmopolitan
News Servtce.)
NEW YORK, March 13.-Wealth
represented by the security listings
on the New York Stock Exchange
has reached the enormous total Of
SIS, LOG, 342.200 according to a spe-
cial compilation made by the Wall
Street Journal. This figure in
cludes preferred and common
stocks, industrial bonds, and Gov
eminent bonds, with no.par stocks
given a theoretical value Of $50 a
share, and war bonds amounting
to $14,5S4,OOO,O00
The listings of par stocks total
1888 $50 900, and no-par stocks
$6,253, 638, 900, a total Of $25,0S1..
200 Bond listings. other than
war bonds, total $1S.4S0. 624, 900;
when war bonds are added In the
aggregate Of listed bonds 10 $780,
Ola 1924, 900.
On January /, 1914, the total
stocks and bonds listed amounted
to $26,072 us, 900, SO that the in
crease in ten years has been almost
1875 per cent. There were no issues
Of no-par stock listed on the big
board on the former date.
The United States Census Blu
reau's latest estimate Of total
wealth of the country as Of De-
cember, 1922, was $326,O0O, 000, 900.
which compares with $187 ,OO0, 000,-
900 at the end Of 1912. On that
basis the stock exchange nstings
are equal to more than one-slxth Of
the total wealth Of the United
States.
The compilation shows conclu-
sively that railroad development
has not kept pace with Industrial
development. The increase in rail-
road stocks and bonds listed in the
past decade amounts to only $1,72S,-
1O7, 900, all the gain, with the ex-
ception Of $37O,152.000 in stocks,
being in the form Of bond issues.
1t IL estimated that income from
dividends and interest payments on
these securities amounts to more
than $4,000, 100000 year.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
Chicago Grain Market.

CHICAGO, March 13.-Grains con-
tinued weak at the start this morn
ing. Wheat started % to 70 cent
lower, with scattered commission
house selling indicating continued
liquidation. On the break there was
buying by seaboard houses, but it
was not enough to change the trend
Of the market.
Corn started steady to Y cent
lower and ran into increasing liqui-
dalton. Buying support was poor.
Oats started A to " cent lower,
with liquidation on overnight orders
in sympathy with weakness in other
grains. Provisions started steady to
strong for lard. Offering moderate.
Opening prices:
Wheat-May, $1.O6K@1.O61s; July,
$1.06% @1.O7; September, $1.O7% q
1.O7k.
Corn-May, 79% @SOc; July, SOA@
801a; September, 80% @SOhc.
Oats-May, ASK @46c; July, 44%@
44Hc; September, 41%@41Mc.
Rye-May, 681ac; July, 69%c.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
STOCKS S H 0W
S EADY
-
TON { !.
Market Greets With satisfac-
ton News of 800, 900, 900 |
Credit to France.
By H. j. DUIZEND.
Copyright, 1894. by Cosmopolitan
Nau. lap,,ioa \ s

~ News service)
NEW YORK, March 1S.-An-
nouncement of the 500, 600, 600
credit established in this country for
the use OF the Bank of France as
part Of its campaign to stabilize
French exchange in all financial
capitals exerted a steadying influ.
ence in the first two hours trading
on the stock exchange today. Its
real importance, however, was felt
In the foreign exchange market, in
which the franc under tremendous
institutional and speculative buying
continued its remarkable recovery to
level which represented a full cent
gain from the low reached last Sat.
urday.
The stock market greeted this
important piece of news with great
satisfaction, but failed to arouse any
material degree Of enthusiasm.
Prices Of representative groups
moved over an extremely narrow
range with the trend slightly up
ward.
Still, despite the intense dullness
trading disclosed some encouraging
features. Most important being the
strength displayed by a number OF
high-grade industrial shares, notably
Woolworth, Dupont, General Elec
trio, Fisher Body, May Department
Stores and Otis Elevator. 1t re
quired but little buying to force
these shares to substantially higher
levels. Their strength was regarded
as highly significant in that 1t was
thought to reflect the underlying
soundness Of the market as q
whole.
LoWer-priced industrials were
featured by fresh buying in Colorado
Fuel, due to the approval Of the
plan for enlargement of the Pueblo
Mills. General Motors was slim
ulated by the firmness in Dupont
advancing a half point.
Trading in the carriers list wa!
practically suspended pending thu
outcome of the Southern Railway
dividend. This stock displayed al
ternate firmness and heaviness, re
flecting conflicting opinions regard
ing the size of the initial payment
Norfolk and Western was agar
under accumulation. Announce
ment of an initial quarterly divi
dend Of $1.25 on Southern Railway
was followed by a 3-point rise IL
the stock and heavy buying of al
low-priced railway shares.
Call money renewed at per cent
Cotton futures developed strength
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
Junior Bankers to Debate.

RESOLVED: That the President of
the United States be elected for a
term or six years, with ineligibility
1of reelection" will be the subject
OF q debate between the Washing.
: totn Chapter, American Institute
Of Banking, and the Baltimore unit
or the organization tomorrow night
at the New Masonic Temple, Thir.
teenth street and New York avenue
northwest.
The affirmative side of the cues.
ton will be upheld by the local
chapter, represented by T. M.
Groom, Of the Washington Mechan.
les Banak; c. F. Chatz, of the
Prince Georges Bank; ]. F. Hill.
yard, Of the National Bank of
washington, and A. E. Henze, of
the Hibbs & Co. =
The following are the judges Sc
lected for the debate between Balti-
more chapter and Washington chap
ter. to take place Friday evening,
at Masonic Temple:
Howdard Moran. vice president,
American Security and Trust Com
pany; Enock A. Chase. local at
tOrney. and Sydney F. Taliaferro,
professor at Georgetown University.
James c. Dulin, jr. president
Of the Washington chapter. will act
as chairman; John j. Darby,
local patent attorney is instructor
OF the debating society.
After the debate, there will be
dancing by music specially engaged
for the occasion. The Baltimore
chapter tells us that their team is
all sci, for the occasion and that
they will be over Friday night in
full fighting form and bring an
army OF supporters with them.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
N. Y. Cotton Market,

. NEW YORK. March ia better
tone was shown at the opening of
the cotton exchange today, options
advancing from to 20 points. Buy
ing was based on the Improvement
In the Liverpool market and un.
favorable weather reports.
March opened at 1925, up %
points; May at $3.50, up 20 points;
October at $3.50, up Is points, and
December at 25.10, up points.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
Crude Oil Output Gains.

NEW YORK, March 13-Domes-
tic crude Oil production during the
week ended March 8 was at an
average Of 1,916,450 barrels a. day,
an increase Of 31,550 barrels daily
over the preceding week. according
to the American Petroleum Insti-
tute today.
California production was O64,S60
barrels daily, an increase Of $3.50
barrels. Increases were also report
ed from Oklahoma, Central Texas
and Arkansas.
Output in Northern Texas, Gulf
Coast, Wyoming and Montana
showed a falling off.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
MOUNTAIN STREAMS
AT WORK IN SIERRAS

Up among the mountains Of the
Sierra range in California, the
electric giant" has established his
home. He has come to stay, and
his extremely useful work is to
produce log, 900 horsepower Of elec-
trical energy from tumbling noun
tain streams.
He will be boon to $4,000 homes
and 500 factories, as we'll as farmers
owning 100000 acres Of land, which
he will help irrigate. The people
Of that region are not calling for
any Jack the Giant Killer.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
STANDARD OIL TO REMOVE
ROAD BILLBOARDS IN WEST

SAN FRANCISCO, March 10
Nearly 1900 highway billboards of
the. Standard Oil Company Of Cali
for11ia in Oregon, Washington.
Nevada, Arizona and California will
be removed and the corporation will
erect no more such signs.
THE country feels that the splen-
did scenery should be unmarried"
an announcement said. thereafter
the company will confine the use
of signs to commercial locations.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
CoLoRED WINDOW LIGHTS
ATTRACT PASSERS, FOUND

A well-known London merchant
has been experimenting with colored
electric lighting in his chow
windows.
He found that whereas before
one out Of every five or six
people who passed his shop looked
into the windows, since the in
stallation of the new color lighting
system the percentage jumped up
to one in every three or four
people who passed the shop.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
A. T. & II. Stockholders.

The American Telephone and Tele-
graph had on March /, 29S,757 reg
istered stockholders, compared with
281,149 on Dec. 81, an increase of
1868 in two months, the largest
ever shown by the company for
a similar period and more than
half of the whole gain reported by
the company for 1923.
The showing is in line with the
company's policy of encouraging
customer ownership of it's securi
ties, as well as the participation
Of company employees. 1t is the
largest corporation in the world in
number of stockholders.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
Postal Savings Increase.

Postal savings depositors added
$1,85O,OOO to postal savings &C.
counts during February, according
to figures received yesterday by
Postmaster General New. This is
the first increase reported in postal
savings for a number of months.
The largest gain in deposits was
made by New York city, where
$555,576 was added, making total
Of $42,179,720. The increase in
postal savings during February Is
said to be due principally to the
discontinuance of the sale of Treas
ury savings certificates in a num-
Der of middle Western States.
!, Deposits in postal savings to the
credit of Washington savers at the
end of last month amounted to
$356,435, representing a decrease
of $3.50 as compared with the
preceding month.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
NEW TREASURY.
ISSUE GOES
II !. OVER
Large Corporations Investing
in Tax-Exempt Securities
- Offered by U. s.
BY HARRY GUSACK.

The strong popularity Of tax.free
Government issues is again demon
atrated, in the. new issue of the
Treasury A per cent certificates.
announced a few days ago. De-
spite the low interest rate, indica-
tons are that the issue, amounting
to $40,000,0OO will be largely over
subscribed, according to figures re-
celved by the Treasury Depart.
-ment.
Washington bankers declare that
the. issue will be largely taken up
by men of wealth and corporations,
Who are investing their idle cash
m non-taxable securities, rather
,tnan In promoting new ventures
Where large percentage Of the
profits would go to the Govern
ment. and the remainder eaten uo
IN various other forms of taxation.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
%9o BUSINESS AND FINANCE A"4 4%snH Ha#P"
Local Stocks.
FURNISHED by w. B. Hibbs & Coz
SALES.

FURNISHED by w. B. Hibbs & Coz
SALES.
Capital Traction SIS, $50O096A,
$5OOQ96A, $5OO@96A.
D. c. Paper 6's, $1,OO0@S5.
Washington Railway and Electric
preferred, 1O@73%, 10@7Sh. 100
1917, 5@73%.
Riggs National Bank, S0296,
Lanston Monotype, 5@72&.
AFTER CALL.
Potomac Electric Cons. SIS 81 ,0O00
81, $2,000@97. $685..
Washington Railway and Electric
As, $1,0OO@71%, $3,0OO@71%, $4,000
@71%.
American Security and Trust.
10@S023l, 10@3O2 1O@30S, 10000
$500. MONEY.
Call loans, 5@6 per cent.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
Wakes Them Up.

Sleepy church congregations
would be almost unknown, If &C.
cording to DR.. M. Lulkiesh, the illumi-
mating expert, places of worship
were properly lighted. He advises
brighter lighting to keep congre.
cations alert and mentally active.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
Liberty Bank Gains.

The Liberty National Bank yes.
eerday celebrated its fourth ami
versary as a national bank with
-Hsposits aggregating $2,937,672, an
Increase of $550,285 over the de-
posts a year ago. A gradual gain
mas been made since December 81
the last bank call, when the de-
positsi were $2,559,312.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-03-13
Curb Stocks.

Furnished by w. B. Hibbs & Coz
The Glenwood post., 1924-02-28
.9Z&hh01o00
kaVEMBH||
CARDIFF NEWS

On Feb. 2s Mrs. Peter Bershenyi en-
tertained the following ladies at din
ner: Mesdames G. G. Green, Harry
Styles, 81. @. Holiday, R. D. Hammond,
and Henry Brown. Mrs. Bershenyi
served very sumptuous dinner which
the guests enjoyed very much.
Mrs. Jennie johnson, daughter of
Mrs. j. H. Rogers, arrived from Bing-
ham, Utah, to care for her mother who
has been sick for several months.
Mrs. George Downing is spending
the week with her mother, Mrs. H. c..
Holiday.
On the 18th Mrs. 9. G. Green treat
ed crowd of ladies to a sleigh ride
to the Henry Brown ranch on -Four
Mile. Mrs Brown had bountiful
dinner prepared which all Of those
present enjoyed very much.
The Glenwood post., 1924-02-28
JUDGE sHuMATE RETURNS
FROM VACATION

Judge and Mrs. John T. Shumate re-
turned yesterday from Stevenville,
Texas, where they spent the winter
months visiting with their daughter
and enjoying the rest and relaxation
which is afforded by lower altitude,
even though the climatic conditions in
that country are not as desirable as
those prevailing in Colorado.
The piercing cold, due to the humid
atmosphere and the sharp winds COM
mon in that country, were not at all
to the liking of Mr. and Mrs. Shumate
who believe the Colorado climate is
unsurpassed. They came by way of
Denver where Judge shumate was
pressed into service by his fellows of
the bench, and disposed Of several
cases before coming on to Glenwood.
Their many friends are pleased to note
an Improvement in the health of both
Judge and Mrs Shumate as a result Of
the vacation.
The Glenwood post., 1924-02-28
HUNTER MESA

Some of the Mesaites went to the
Nordyke sale last Saturday.
Bliven's girls spent the week end at
home and went to the entertainment
at the school house.
Mrs. Powe went to Rifle Saturday
on a shopping trip with one of the
neighbors. .MH
Mrs. Heron received letter from
Mrs. Wehrling stating that Ethel is
not able to 60 to school; that Dewey
is still in California and Mabel at a
nurses school in Chicago. Mr.. Wehr-
ling has moved to Pomona district,
near Grand Junction.
Washington Is birthday was celebrat-
ed by q social entertainment in the
school house Friday night. Games
were played and music by Mr.. Evans
phonograph enjoyed. Miss Opal Powe
was the leader Of the games, and she
made . busy evening Of II without
losing any time. Fine refreshments
The Glenwood post., 1924-02-28
BATTIEMENT MESA NOTES

Miss Vera Poindexter of Grand
Junction spent the week end with her
sister, Miss Leila Poindexter.
Misses Ern1 Frazil and Annie Geime
and Mr.. D. Heinie were guests at the
home of Mr.. and Mrs. G. M. Sipprelle
Sunday.
The members of the Battlement Mesa
Sewing club, accompanied by their
husbands, gave pleasant surprise to
the teachers of Battlement schools Fri
day afternoon. A short program was
given and delicious lunch was served.
Mrs. Thane Robertson was on the
sick list the latter part of the week.
f. H. Mahaffey and N. Goode were
business visitors in Rifle Saturday.
Mr.. and Mrs. @. M. Morrow, accom-
panied by the Misses Leila and Vera
Poindexter, motored to Rifle Saturday
afternoon.
Mr. and Mrs. Fred Burnsides and
family moved the first Of the week
to the ranch recently vacated by Leon
ard Smith.
The Glenwood post., 1924-02-28
Annual Eastern Star
Ball Splendid Success.

The sixteenth Colonial ball given on
Washington s Birthday by Erica chap
ter, Order of the Eastern Star of this
city and which is one Of the social
functions annually looked forward to
by many was given at Armory hall last
Friday evening.
The hall was prettily decorated, the
five Eastern Star colors being used in
artistic combination, with large cleo
trio star shining in the east. Large
American flags were used on the side
walls and altogether it was very at
tractive, and Mrs. Claussen, chairman
of the committee, and her assistants
deserve much credit for their work in
this direction. A large but not uncom-
Portable crowd danced to the strains
The Glenwood post., 1924-02-28
GARFIELD HIGH WINS DEBATE

The Garfield County High school
debating team debated the Meeker
High school in their city last Satur-
day evening. The question for this de-
Iating confer ice this year is: ere
solved, That All Foreign Immigration
Should Be Prohibited for a Period Of
-Four eYars, With the Exception of
Official Representative of Foreign
Countries. 1t is generally conceded
that the affirmative of this question
is The harder to defend, but Joe Quad
nolo, ftLel Nestell and Roy Buckmas-
ter won. The team left by auto at
eleven CLOCK Saturday and returned
Sunday morning.
The team reports that Meeker people
were true hosts and that everything
possible was done to make their short
stay pleasant.
Next week the team debates at
Grand Junction. Here's hoping that
they win again.
The Glenwood post., 1924-02-28
EvERYTH1No ou1Er "A MuEKpR 1.r,1uu

District Attorney Frank Delaney
and Court Reporter ]. NJ Schultz re-
turned Wednesday from Meeker where
they had been investigating the trouble
growing out Of the recent raids ON
gamblers and bootleggers, and taking
statements of number Of citizens
concerning the same.
Mr.. Delaney reports everything quiet
in the cow town at present and says
the stories sent out from there were
greatly exaggerated, but he declined
to be quoted on the question of the
probable guilt of anyone in particular
in regard to the firing of the Metho-
dist church or the attempt to stone the
pastor.
Several people were interviewed in
regard to the affair, and their state.
ments reduced to writing for future
use. Mr.. Delaney thinks that because
Of his official position it does not be-
come him to discuss the case at this
time, and The Post believes he is
right in assuming such attitude, much
as we would have appreciated a good
story from him on the subject. The
bloodhounds that were brought in from
Colorado Springs were not of much
help in feretting out the mystery, and
future developments must speak for
themselves. 1t is probable, though by
no means certain, that grand jury
may be called to sift the matter fur
ther, but pending such action, there
are several theories as to where the res
possibility lies. Five men have been
arrested and have paid fines, two for
operating pool halls in which gambling
is allowed, two for having liquor in
their possession, and one for gambling.
Another was arrested and placed under
bonds for impersonating an officer.
No arrests have as yet been made
in connection with the raid on the
church or parsonage, but there may
be some further developments in con.
nection with these matters at a later
date.
The Glenwood post., 1924-02-28

were served in the way Of sandwiches
coffee, cakes, ice cream and popcorn
All went home full of fun-and Other
goodies.
John Pyne is feeding sheep and cat
tie for McLearns.
Gustavensens have been feeding cat
tie and Dan Harris, but have now tax
en- them to the Acorn ranch on Divide
creek.
The Glenwood post., 1924-02-28
GRADE SCHOOL ORCHESTRA

Think of it'll Eighteen boys and
girls of the grade school are meeting
two mornings each week at eight
C 'clock for orchestra practice. They
are doing some fine work, too. The
first public appearance Of the orches-
ira will be at the Junior High operetta
"The Family Doctor the evening OF
March seventh.
The Glenwood post., 1924-02-28
ATTEND RULE FUNERAL

The following people from Eagle
county were in Glenwood Tuesday to
attend the funeral Of the late Frank
J. Rule:
Messrs and Mesdames I. o. Beale,
F. Long, Perry Steele, Clint King, J..
P. Oleson, @. schumm; Messrs. Charlie
Ulin, A. Ringdoll, Gus Ulin, Andrew
Oleson, Harold Kimble, Ed Hendrick-
The Glenwood post., 1924-02-28
!laIsis:E9 - ssE2TIzz1 92%z;a1

son, Robert McHatton, Hugh Oliver,
Mesdames Joseph Lindgren, @. O.
Kutz, Edith Davenport, 8. Kimmes,
Ella Van Horn, and Misses Minnie
Lundgren and Edna Anderson, all OF
Gypsum, and Mr.. and Mrs. 9. h. Ran
dali and Mr.. and Mrs. Will Dunn OF
Eagle, and Walter Randall OF Min
turn.