davidaulloa/AmericanStories huggingface dataset:
Evening star., 1928-12-12
DROP IN CANADIAN MARCONI
JOLTS SECURITIES MARKETS

feverishly bought by small fry" in
vestors, as was that of Bancitaly Corpo-
ration, in the face of warnings from
the management that it was selling too
high. The break was precipitated by a
statement by Sir Joseph Flavelle, chair
man of the board, in which he recalled
statement he made earlier in the year
that he considered the stock too high
at So. The stock had then sold as
high as $23.50, and fell below $40.
capitalization consists of approX1-
mately 4,500,000 shares of capital stock
of par value 81 each. Earnings last
year amounted to about l cent share
and are estimated at about 2 cents for
this year. The company operates about
40 wireless stations under agreements
with the Canadian and Newfoundland
governments and owns high-powered
beam stations for direct communication
with England and Australia. 1t manu-
factures marine wireless equipment and
radio receiving sets, which are dis
tributed throughout Canada
Canadian Marconi is controlled by the
Cann1ar Investment Co, which is in
turn controlled by Lazard Bros. & Co.,
the London branch of the French in
veStment banking house of Lazard
F'rereS & Gle. British Marconi Co,
Ltd, of London has substantial hold
ings in Canmar, and a large block of
the non-voting shares is held by the
Radio Corporation of America
Evening star., 1928-12-12
New Gas Firm Organized.

NEW YORK, December IL P).-
Formation of FL Paso Natural Gas Co.
to construct and operate 200-mile 16-
inch pipe line from Lea County, New
Mexico, to FL Paso, Tex, was announced
today. The construction contract calls
for completion Of the pipe line by May
/, 1929.
The company will supply FL Paso
utilities, including Texas Cities Gas
Co. and industrial plants in El Paso and
vicinity.
Capitalization, in addition to $780,
600 mortgage sinking fund bonds an6
debentures, includes $5,000,000 in pei
cent preferred 500 par stock, of which
100000 will be outstanding, and u.s..
! 600 no par common shares, Of which 3d..
500 will be outstanding.
Evening star., 1928-12-12
SAVINGS BANKS RAISE
THEIR INTEREST RATES

NEW YORK, December 12 (spe-
CAD All but four of the savings banks
IN the Manhattan district have ADOPTED
a Az per- cent interest rate on savings
deposits. Several of these banks have
peen paying AZ per cent for some time
Inc otners have Just taken such step
10 make savings accounts so attractive
that depositors will not withdraw their
funds for use in the stock market
AS side light on the savings bank
situation, it may be noted that the
Westchester Savings Bank of Tarrytown
N T., Will pay 10 per cent dividend on
an deposits as of July l, 1928, giving
Its 5000 depositors a total of $500 600
This distribution was ordered by the
state Banking Department in accord
ance with laws regulating distribution
OF dividends to depositors and the reIa-
tion OF earnings and surplus to deposits.
This Is believed to be the first time in
state banking history that savings bank
earnings have exceeded the rs per cent
surplus over deposits required by the
State law.
Evening star., 1928-12-12
Can Firm Plans Plant.

NEW YORK, December 10 CP.-Los
angeles, Calf, Can Co., subsidiary
OF Continental Can Co., is to construct
a $1,000,000 plant.
Evening star., 1928-12-12
BROADER MARKET
ACTIVITY is SEEN
BY the Associated Press.

By the Associated Press.
NEW YORK, December 12.-The
American acceptance market cannot be
considered in permanently satisfactory
position while it is so largely dependent
upon the Federal Reserve banks. Dr. w.
Randolph Burgess, assistant Federal Re-
serve agent of the New York Federal
Reserve Bank, told the American Ac-
ceptance Council here last night. He
outlined market conditions of the past
| few months as an example of this de-
pendency. pointing out that the volume
of bills was larger than ever before, and
that if the Federal Reserve banks had
not followed their usual policy of taking
the surplus, dealers would have been
forced either to refuse to purchase new
bills or would have done so at prohibi-
| tive rates.
"On the other hand" he said, "the
taking by the reserve bank of the bills
offered involved putting into the money
market something like 100000 900
more than seasonal credit needs re-
quired, which was used by member
banks to liquidate part of their in
debtedness and thus tended, in con-
junction with gold imports, to ease
slightly the money situation"
LII. burgess Expressed JIle OPINION
that the market naturally will broaden
as investors become aware of the pos
sibilitieS of investing in acceptances.
Corporations and individuals now buy
ing Government securities are forced by
diminishing amount of such securities
outstanding to invest in bills and changes
in financing methods to reduce the amount
of eligible commercial paper available
Less satisfactory progress was seen by
DR.. Burgess in efforts to provide suf-
ficient supply of funds at reasonable
rates to acceptance dealers because the
securities markets absorb so completely
the supply of day-to-day money, a con-
dftion he ascribed chiefly to the custom
of buying securities on borrowed mar
gins. He suggested that the situation
might be remedied by normal increase in
margin requirements to point where
this use no longer could absorb the sur
plus, or by the introduction of short
term settlements on the Stock Ex-
| change, providing a supply of cheap
day-to-day money for the bill market.
Evening star., 1928-12-12
CONVERTIBLE BOND
LIST HEADS SALES
Market Unusually Quiet Due
to High Interest on Call
Money.
eBY CHARLES F. sPEARE.

Special Dispatch to The Star.
NEW YORK, December IL. Dealers
in bonds were disappointed today when
the 8 per cent renewal rate for call
money was marked up and there was
no easing in the rate of 734 per cent
for time loans. They have now faced
two weeks of highest average rates of
the year in which call loans have rang
ed from 8 to 10 per cent and time
money from 634 to 734 per cent.
This has shut off the market from
those buyers who were beginning to
take an interest in it during Novem-
ber. At the same time it has brought
out moderate liquidation. Under these
conditions it has stood up remarkably
well, although the average decline has
amounted to full point.
One effect of the high money rates
and the recent break in stocks has been
the withdrawal of both new bond and
stock offerings this week.
The market today was small in size,
and, except for the convertibles, 1t
moved within narrow price limits. A
few of the high-grade rails showed some
recovery early, but on later offerings
they declined. Government issues were
SCcduy, WLIIA ILl6 ACKNOWLEDGEMENTS VAidt
the new 4A per cent Treasury certi-
ficates had been oversubscribed. The
junior rails were generally higher, in
cluding Missouri Pacific as, Denver g.
Rio Grande S. st. Paul adjustment SIS,
Rock Island 4l2s and Frisco 412s.
Among the miscellaneous industrials
fair amount of strength was shown
in United States Rubber IS, McCrory
Stores Slas, Certainteed Products 5l2s,
Humble Oil 5l2s, International Cement
SIS. Porto Rican Tobacco IS and Cuba
Cane Sugar 8s.
The active convertibles advanced
from 3 to points early, with a later
decline of q portion Of this on the part
Of Andes Copper rs and Anaconda Cop
per rs.
One effect of the break in Bolivian
bonds, which were soft again today, has
been to start a moderate amount of
selling in the issues of countries in
Southeastern Europe whose political
conditions are none to stable. It has
also depressed number of the weak
ened South American credits. The Ger
man list continued heavy and there was
reaction of 1a point in French gov
ernment bonds.
Evening star., 1928-12-12
Business Activity and Building.

Willie lutSIcSt COStS nave SCeaQlly
mounted.
Business Activity and Building.
In the final analysis it is not the
cost of building or the cost of borrow
ing which determines the amount of
construction. A building will be con-
structed regardless of these factors pro-
viding there is sufficient business to
make 1t profitable.
Because of this fact the volume of
building fiuctuateS more closely with
general business activity than with
anything else. In fact, it actually moves
in advance, since new building rep
resents business plans projected into
the future. Therefore, building can be
used as barometer of business.
Good Business Ahead.
Naturally, the different kinds of
buildings are affected differently by
business conditions. Most types Of
construction, like educational residen-
tial, public works and public utilities.
or even commercial buildings, do not
huctuate so widely with business ac-
tivity, but show more steady increases
from year to year with the growth in
population. On the other hand, indus
trial building shows wider variation.
since 1t is more closely associated with
business. This year industrial building
mas shown the greatest increase over
year ago OF any classification.
The total volume Of new construction
SHOWS no visible signs of slackening to-
Gay, and until there is a noticeable
1aillng on IN new building, past ex-
perlence would say that business should
continue to improve.
Copyright, 1921 . M84,l
Evening star., 1928-12-12
BY KENNETH S. VAN sTRUM.

NEW YORK, December IA most
encouraging indication that business
will continue at high level is the fact
that the building industry maintains
it's high rate of activity. In the past
this industry has begun to slacken be-
fore general business declined, and
since today building figures are in
creasing rather than falling, they are
forecasting continued good business.
Building Costs.
There are many theories concerning
the causes of varying volume of build
ing. One of the Oldest is that there Is
an inverse relationship between the
volume and cost of building. High
costs discourage construction, low costs
encourage. While this is an important
influence, there are other more DOM
mating ones.
Another theory is that the cost of
borrowing money affects the volume of
building. Since construction entails so
much capital, both individuals and cor
porations must usually borrow money
in order to build. In the past this
theory has been justified, but it has
Evening star., 1928-12-12
$780, ,000,0 900 COMPANY
is REPORTED UNDER WAY
BY the Associated Press.

BY the Associated Press.
NEW YORK. December 12.-Forna-
ton of a $100,OO0.0OO corporation, COM
bining features of holding and man
agement company and an investment
trust, was reported under way yesterday
in Wall Street.
r. S. Reynolds, New York banker;
George v. Allen of Duke Power inter, St.
and Arthur v. Davis, president of he
Aluminium Co. of America and a d!rcc-
tor of the Mellon National Bank Of
Pittsburgh, Pa, are reported to be the
leading organizers 1t is understood
Reynolds will be president.
Several banking interests are reported
to be interested in the project. includ-
ing Charles D. Barney Sc Co., Stone
& Webster and Blodget, Inc: Lehman
Bros. & Co. Kidder, Peabody g. Co.
and Brown Bros. Co.
Evening star., 1928-12-12
By the Associated Press.

MONTREAL, December IA specu-
lative bubble in the common stock of
Canadian Marconi Co. burst on the
New York Curb Market recently and
for a time threatened to cause a break
Evening star., 1928-12-12
NEW YORK BANK cLEARINGs.

NEW YORK, December IL Especially.
New York bank clearings, ST. ,9O2, ,000,-
900; New York bank, balances. $i52,-
100000; Federal Reserve credits bal
ances, $124.000.0Q0,
Evening star., 1928-12-12
TREASURY CERTIFICATES.

tReported by J. g. W. seligman 8 Co..
Evening star., 1928-12-12
AFTER CALL.

Lanston Monotype-3 at 11s%.
Wash. Gas Lt--10 at 102.
Amer. Natl. Bk.-10 at 262.
Dist. Natl. Sec Co. pfd.-3 at 102.
Barber & Ross 6K2s-$1 900 at "a.
Wash. Gas IS B-Sl 900 at 107A.
Bid and Asked Prices.
Evening star., 1928-12-12
Washington Stock Exchange
SALES.

Cap. Tract. Co.-$5o0 at 1885, $500 at
1035s.
Wash. Gas 6s A-S300 at 1903.
Wash. Gas IS B-$500 at 107A.
Chestnut Farms Dairy pfd.-2 at 1862.
Pot. Elec. 51a8o pfd.-5 at 108.
Wash. Gas 1t Cos at 99as, 10 at
99l2. 10 at 100, 6 at 1001a, 10 at
10l x.
Wash r. g. E. pfd.-1 at 99la.
Fed.-Amer. Co. pfd--10 at 10l1s.
Mergenthaler Linotype-5 at lO45s, s
at 1o412, 10 at 104lz. 80 at lo41a. 10
at 1041a.
Natl. NJ. & Inv. pfd.-100 at 5%, so
at 5ss.
Evening star., 1928-12-12

not held true this year, when building
has continued to make new high records
while interest costs have steadily
mounted.
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1928-01-18
Publication of
Personal Property Tax List
AS provided for by Chapter 229
Laws of 1925.
Prepared by A. P. Falk, County
Treasurer. 1927 Taxes.
Taxes must be paid before
March l, 1923.

TOWN OF ROCKVILLE, REDWOOD COUNTY, MIMI.
Personal Property, 1927 Taxes. Taxes must be paid
before March l. 1928.
School District No. 81. Total Tax Rate 1873 Mills
Assessed Money & Amt. of
Valu red
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1928-01-18

Personal Property. 1927 Taxes Taxes must be paid
before March /, 1925
School District No. IS. Total Rate sos Mills.
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1928-01-18

Personal Property 1927 Taxes. Taxes be paid
before March /, 1928.
School District No. 81 Total Tax Rate 57.2 Mills
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1928-01-18

TOWN OF DELHI, REDWOOD COUNTY, MINI.
Personal Property, 1927 Taxes. Taxes must be paid
before March /, 1925
School District No. 61 Total Tax Rate 325 Mills
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1928-01-18

TOWN OF KINTIRE, REDWOOD COUNTY, MIMI
Personal Property 1927 Taxes Taxes must be paid
before March 1, 1928.
School District NO. TO- Total Tax Rate 31.2 Mills.
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1928-01-18

TOWN OF JOHNSONvlLLE, REDWOOD CO., MIMI
Personal Property, 1927 Taxes Taxes must be paid
before March I, 1928.
The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1928-01-18
school District No. 60 Total Tax Rate % Mills.
Assessed Money & Amt.

Personal Property, 1927 Taxes. Taxes must be paid
before March 1, 1928.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-01-27
ORDER BUTLER ROAD
New $4,000 Boulevard
Will Join FairvieW Campus.

Park Engineer J. E. Perry today
was authorized by the park board to
draw plans for a $4,000 boulevard
to connect the new Butler Univer-
sity campus at Fairview with Maple
Rd. Blvd.
The thoroughfare, known as Con-
ser Blvd. will run north from Maple
Rd. on the east of Crown Hill GEM
etery. 1t will join Butler Blvd, one
Of the campus streets.
The park board took under ad-
visement the request of property
owners to relinquish jurisdiction of
Capitol Ave. between Sixteenth and
Twentieth SITS, to the board Of
works, so it may become business
street.
Recreation Director Jesse P. Nc
Clure reported 8o0,558 persons at
tended Indianapolis Fairgrounds be-
tween June and September. OF this
number 417086 were boys and $685.
472 were girls. There were 84,100
boys and 1880 girls at beaches
and pools, setting a new attendance
record despite the fact that Mcclure
beach was closed.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-01-27
DELAY REMUS MOVE
Freedom Efforts Postponed
Until Next Week.

BIZ United Press
LIMA, Ohio, Jan. 27.-Efforts to
obtain the release of George Remus,
former millionaire Cincinnati boot
logger, from the State hospital for
the criminally insane here, likely
will be postponed until next week.
Remus' attorneys, who planned to
file petition for a writ of habeas
corpus, postponed the action when
they were advised they could not
obtain an immediate hearing.
Remus, acquitted of the Staying
Of his wife on the grounds of, in
sanity, was committed to Lima by
the Cincinnati Probate Court. He
may be liberated at any time he
proves himself sane.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-01-27
MANY END COLDS
IN FEW HOURS BY
HOSPITAL METHOD
Doctors Recommend 1t az
Ideal for Home Use in
Pneumonia Weather

Realizing that every common cold
may be the forerunner of pneumonia
unless treated properly in time
hospital physicians have chosen a
remedy that is ideal for use at home.
And numbers of Indianapolis people
find that it brings quick, sure relief
often in a few hours-yet is mex
pensive and pleasant to take.
Mrs. H. E. Giddis, for instance,
had such a stuffy cold she couldn't
breathe thru her nose and coughed
so deep she feared pneumonia.
Then she sought advice from her
doctor, who prescribed double
strength doses of Ayers Cherry
Pectoral-a concentrated mixture of
wild cherry, terpin hydrate and
other ingredients which have re-
lieved even the most extreme hos
pital cases.
Relief began with the first pleas
ant swallow. She felt its comfort
ing, healing warmth from her nose
passages deep down into her chest.
In a few hours, she began to get
relief from that "feverish, grippy"
feeling. BY night she coughed less
and was able to breathe through her
nose. And in another day or so,
the doctor reports, she was rid of the
cold completely.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-01-27
STATE SCHOOLS
ARE BENEFITED
BY SNOW WILL
Income From Funds to Be
Used as Awards for
Best Students.

Six Indiana institutions and the
city of Indianapolis were benefited
by the will of Mrs. Margaret Butler
Snow, former Indianapolis resident,
according to Washington dispatch.
Mrs. Snow. who died Jan. 7, was
the widow of Alpheus Henry Snow,
international law authority.
Indiana institutions we're be-
queathed most of the estate.
Indiana University, $4,000 for
memorial to Mrs. John M. Butler,
her mother. Income to be annual
prize to woman with highest
scholarship and character rating.
Shortridge High School, $4,000 in
memory of Mr.. Snow, the income to
be used for awards.
Boys Club of Indianapolis, $4,000
in memory of John Maurice Butler,
her brother, income to be used for
clubs work.
Wabash College, $4,000 for
scholarship.
Second Presbyterian Church, $10,-
900 for church charities and &C
tivities.
Indianapolis Bar Association,
which is to establish club in men,
DRY of John M. Butler, father Of
Mrs. Snow, and the city of Indian
apoliS are to receive sums.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-01-27
4NGS DEFY BIG BILL THOMPSON IN CLEANUP DRIVE
City of Children Is Gift
of KreSge for Orphans

ciety of Detroit, will build an entire
community of small cottages where
children will be reared in individual
houses with the atmosphere Of a
private home.
A fund of $725,00O will be put into
the new project which will begin
within the next few weeks with the
erection of the first group OF cot
tageS on a 28-acre tract just outside
the city. Earl Groth, Kresge store
manager here, announced the gift.
Each cottage will house a, group
of three or four children to be raised
under the guidance Of mother" a
selected social worker, and possibly
father"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-01-27
Ocean Life Is Healthy One,
But 1t Takes 'He-Men,'
HartIey'S View
BY RODNEY BUTCHER
For NEA Service y

WASHINGTON, Jan. 27.--Once
there may have been romance wher-
ever ships rode the oceans rolling
waves, but if so it was a long time
ago.
Least of all is there romance to-
day aboard one of the huge trans
Atlantic liners which carry the
cream of the ocean passenger trade.
Captain Herbert Hartley observed
as much when he quit the bridge of
the Leviathan, proudest of Amer
lean vessels, to enter private life.
Hartley has become a special rep
,resentative for New England tex
tile concern.
Travelled $500, 900 Miles
For five years Hartley commanded
the great Levi" He was commo-
dore of the United States Lines feet.
His retirement was at the age of So.
He had made $50 trips across the
Atlantic, travelling more than $780,
600 miles. No skipper was more
widely known.
Some men go to sea too long and
can't give it up" explained Hartley.
Il have reached the height of my
profession and I'm not content.
There are greatest opportunities
ashore"
Hartley, whose salary has been
$4,000 year, does not recommend
the sea for any young man am
bilious to rise.
tits a healthy life" he said, but
it's a hard one. 1t takes longer to
get anywhere in that career than in
any other"
Hartley learned his seamanship on
the naval schoolship Saratoga, to.
which he was admitted at the age
of 18.
Wireless has changed the sea-
mans life completely, but Hartley
said there is still opportunity to
make it safer-wireless detection of
icebergS, for instance.
Fog is the worst menace of the
sea today" he added. I'VE hate
that worst of ALL"
Here are some of Hartley's ideas,
after .,thirty-five years of sea life
and ten years of command:
I'D recommend that the Govern
ment stick at the shipping business
until we get a well-balanced fleet
and have something for sale: Then
let private interests buy it with their
own money and not the Govern
ment's.
Tourists Save Trade
1.-THE Leviathan is popular for
speed, but the only thing that has
saved the other American liners is
the new tourist business since immi-
grafton stopped. Our ships are maxi
ing good. though.
Tourists are about the same as
overall kinds, only more of them
everything from royalty to third
class passengers.
! Prohibition is one of the biggest
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-01-27
ANOTHER BLAST
IS. ANSWER TO.
MAYORS EDICT
Police Start Greatest Hunt
in City's History for
Defiant Thugs.
CHALLENGE ACCEPTED
Chief Hughes Says Drastic
Steps Will Be Taken to
/ Curb LaWIeSsness.

By United Press
CHICAGO, Jan. 27.--As Chicago
today prepared to start one of the
most extensive hunts for per-
petrators of bomb outrages in the
c1tys history, rocketeers expressed
their contempt for the search by
another bombing.
A bomb was thrown in the door,
way OF a shoe repair shop less than
a block from the home of Dr.. Will
liam Reid, bombed yesterday.
The bomb was directed at j.
KuStczyk, who said he recently had
been threatened with violence if he
did not join a shoe repairers' as
ISOLATION. Damage was slight.
There were no clues to the per-
SONS who yesterday threw bombs at
the homes of Charles FitzmorriS,
city controller, and DR.. Reid. 1t was
believed those two bombings had
come as gangster expressions of
hatred against the vice campaign Of
Mayor William Hale Thompson.
Plan for War on Gangs
Fitzmorris and Reid are among
the most prominent of Mayor,
ThompSon'S political advisors.
Michael Hughes, police commission
er, conferred with the two last night
and drew up plans for the war,
which he said would be announced
today.
Mayor Thompson declared the
bombingS were a direct challenge
from the lawlesS, land we accept
that challenge" he added.
I'VE shall work harder than ever
to break down the gangs back Of
these outrages," he said.
Commissioner Hughes declared
that when we go out for these men
we'll know who we want and We'll
get them. You may be sure we
won't handle them with kid gloves,
either"
Guards were placed about the
Reid and Fftzmorris homes last
night, and two policemen were as
signed to watch Hughes home.
There was a guard at the Fitzmor-
ris home Wednesday night when
the bombing took place, it was
learned today, but he was inside aC
the time.
Clews Are Flimsy
There were no tangible clews from
which the police could build a case.
1T was reported the bomb thrown
at the Fitzmorris home had been
hurled from a Dodge sedan, but no
distinctive description of the motor
car was obtained.
Fitzmorris formerly was police
chief here, and it was pointed out
that he made many enemies among
the gangsters. The theory also was
held that some of the same men
may hold grudges against DR.. Reid,
former smoke inspector.
To trace this theory, wardens Of
all Illinois prisons were asked to
send the names of all men released
in the last few weeks.
Five arrests were made yesterday.
However, it was doubted that any
of the men we're connected directly
with the bombings. y 1t was hoped
they might be able to give some
information which would lead to the
actual bombers.