Indianapolis News, Indianapolis, Marion County, 29 January 1917 — Page 17
THE INDIANAPOLIS NEWS, MONDAY, JANUARY 29, 1917.
LEONARD B. CLORE PROBABLY
WILL BE A DIRECTOR.
2 TERRE HAUTE MEN IN LINE
[Special to The Indianapolis News]
WASHINGTON, January 29.-It waa learned today on good authority that Leonard B. Clore, of Laporte, Ind., la alated for a directorship in the Louisville branch of the federal farm loan bank. Although an effort was made to name Clore for president of this bank, a ruling of the board that the president must be a person of banking experience has disqualified him. It is now probable that if Clore is not made treasurer of the Louisville bank he will be chosen di-
rector. ^
Frank Crawford, of Terra Haute, is also slated for a place witn the bank. Crawford’s friends have been attempting to place him as registran of the Louisville bank, which probably will pay J4.WJ
a year, but if he jhoes not get this place
he will get another. It is said.
Weeks for Appraiser.
W. D. Weeks, of Terre Haute, is another Indianlan slated for a place with the bank. Weeks Is to be appointed appraiser. I f C Iv fn CM n A ax A Y <4 I A tri { a (A 4a
eluding those at Vincennes and Bloomington, are to lose their heads. It is understood. Others Somewhat Exercised. Other retiring congressmen are also a bit exercised over the fact that they can not retain patronage for their districts. ^ ^ , The three Democrats who retain their seats are not raying much. Representative Barnhart Is willing to see the plan go through. In fact, he is more than willing. ‘T have enough worries In my own district.” Barnhart said, “and I am not going out to get more.” Representative Lincoln Dixon says he is not concerned with the situation one way or the other, except for the fact that one pian from his district is now holding an important office In Indiana. In other words, if L Ert Slack Is retained as district attorney . the scheme will have Dixon’s approval. . „ „ The same is true of the attitude of Rep resentative Cox. He will fight to retain the Job of marshal for Mark Storen, but outside of that he is not hunting trouble.
nSK, BANKER, DENIES I LAWSON LEAK STORIES
Pelts Valued at $3,000,000 to Be Sold In St. Louis
TESTIFIES HE WAS NOT IN DEALS
WITH M’ADOO.
LEASED OFFICES FOR BANK
ST. LOUIS. January 29.-What local dealers say will be the largest fur aaie the world ever has aeen began here today. Pelt* valued at *3,000,000 will be sold at auction during the week. More than 300 merchant* have sent word they expected to attend. German firm* are represented among the buyers and their purcha*e» will be held in the United States for shipment after the war Is ended. Skins to be sold constat of 1,250,000 muskrat, 200.000 skunk, 250.000 opossum. 160.000 raccoon, 48.000 mink, 45 stiver fox, 500 blue fox, 1,000 cross fox, 1,300 white fox, S.500 red fox. 5. <00
PENALTIES FOR STRIKERS
MAKING
WAY QUIETLY
THROUGH COMMITTEES.
PROVISIONS ARE DRASTIC
These are the only three Indianiana, it is understood, that have received more than the casual indorsement of the Indiana delegation. There is some mystery relative to the manner in which Clore came to be considered for the place with the Louisville bank. Ordinarily he might be expected to have received the indorsement of Representative Barnhart, of the Laporte district, or that of Representative Dixon, of the Fourth district, where Clore formerly lived However, neither know of Clore’s candidacy until It was well along, when they immediately put In their In-
dorsement,
It waa learned later that Clore had been indorsed by Vice-President Marshall, and this prqbably Was the source of the strength of his boom. Senator Kern said today that he had received between 100 and 200 applications frotn persons in Indiana who wished to be appraisers in connection with the Louisville farm loan bank. Having been under the impression that there would be one appraiser for each congressional district In Indiana, he has Indorsed several of these applications. However, he said. It transpires that only one appraiser will be appointed for Indiana, and he will be appointed only after the board of directors of the Louisville bank has organized to do business.
.Vice-President Is Busy.
Since Vice-President Marshall Issued bis statement a week ago that he would take the responsibility of distributing Indiana patronage in- the next four years, applications for jobs have come thick and fast and much of his time is taken up with persons who run down to Washing-
ton to put In their personal applications
Jobs. So many Indiana Job
id
for jobs. So many Indiana Job hunters have been around Washington resently thgt it has been hard to keep track of them all. ■ There are certain retiring congressmen who are in an awful stew because the Vice-President has accepted the task. Among them is said to be Congressman Cullop, _ who has been denouncing the plan louder than arfy of the rest. Mr. Cullop wishes to retain the patronage dispensing power for himself In the Second district. Even some of Representative Cullop’s favorite postmasters, in-
Reasons Why yQII Should Join
$2
enrolls you as a member
$2
enrolls you as a member
THE STAGS
DUBS ONLY T5e PER MONTHNO ASSESSMENTS Each Local Drove regulates the payments of its benefits. 1st—Local Drove* of Stags. §7.00 weekly Sick and Accident Benefits. 2nd—Local Droves, $123.00 Funeral Benefits. i 3rd—Local Droves furnish fyee pky■leinns for members and family. 4th—The Stags will help yon in your business. 5th—The Stags help you to get a position when yon are ont of employment. 6th—The Stags give yon many social advantages. 7th—The Stags Supreme Drove has an Ideal plan to care for orphans. xth—The Local Drove can have Elegant Clnh Rooms, Hilliard, Pool, Bowling and Dancing Parlors, Library and (•ymnastuni. Iltb—One night each month Is set aside ns ‘‘Ladles' Night.” This la for the entertainment of Mothers, Wives, Sisters, Daughters and Lady Friends of Member*.
There’s a nice little bill quietly making Us way through the channels of committee work in the senate, that few folk in Indiana have heard much about. It was Introduced by Senator Joseph M. Hirsch, of Cannelton. the same senator who introduced the 'bill to legalize race track
gambling in the 1915 session. The present Dill is known officially as Senate Bill 138,
and the public utility section of the Big Lobby will have been of eminent service to Us employers if it succeeds in forcing this Mil through to enactment. The* measure would make It a crime, punishable by a heavy fine and imprisonment in the county jail or the penitentiary, for any employe of a street railroad company, railroad or any other public utility to strike or to interfere in any manner with the operation of the utility. It would make picketing a crime, subject to the same high penalties, and any person who sought to Induce an employe of a public utility to quit his Job would place himself in tfwLshadow.of the penitentiary
door.
Dra«tlc Proposal. It Is perhaps the most drastic antistrike bill ever introduced in the Indiana legislature. . . The bill is entitled a ‘‘bill for an act entitled ‘‘An act concerning public offenses, and prescribing penalties for the violation thereof.” Tho first of the three sections of the
bill follows:
“Section 1. Be it enacted by the general assembly of the state of Indiana, that whoever wilfully interferes with the property of any public utility operating in this state so as to incommode or
pre-
vent the public or any person from receiving from such utility the service to
which the public or such person may be entitled, shall upon conviction be fined not less than $10 and not more than $100, to winch may be added imprisonment in the county jail not more than one year or in the state prison not more than
three years.”
“Section 2. That whoever by duress, threat or by intimidation prevents or seeks to prevent any person or persons engaged in operating any public utility in this state from operating the same shall, upon conviction, be fined not less than $10 nor more than $100, to which may be added imprisonment in the county jail for not more than one year, or in the state prison not more than three years. s
Other Penalties.
“Section 3. That whoever by threat or by intimidation prevents or seeks to prevent any agent or any employe, pr any class of employes employed by any public utility operating in this state from performinn- rtutv which such nsrpnt f»m_
forming the duty which such agent, em ploye or class of employes owe under such employment, shall, upon conviction, be fined not less than $10 or more than $100, to which may be added imprisonment in the county jail for not more than one year or in the state prison not more
than five years.’.’
Under the provisions of the bill, It is pointed out, the very act of striking by employes of a public utility would be punishable by heavy fines and im-
prisonment, and the penalties would apply as well to •’ 'x- ~
‘picketing,’’ or to persua-
sion, used by striking employes to call other employes from their work for the
public utilities.
FORESTERS’ OFFICER DEAD.
No "Booze" in Our Clubrooms
STAGS
Office, 616 Merchants Bank Bldg. Phone, Mala 6250.
Open till 0 P. M.
W. W. Wilton, Age 62, Dies of Typhoid Fever at Hi» Irvington Home. W. W. Wilson, age sixty-two, high state secretary of the Independent Order of Foresters for more than tyenty years, died today at his home, 31 South Hawthorne lane, Irvington. He had been in poor health for some time., and recently became sick of typhoid fever. A week ago last Thursday he was hurt by a fan on an icy pavement, but the injury was not serious,. No ftmeral arrangements have been giade. Mr. Wilson was born March 9. 1856, at Logansport, where he lived with his family till 1906, when he/moved to Irvington. A widow and two daughters, Beth and India J. Wilson, survive.
\
At Sander & Recker’s LAST TWO DAYS of the Semi-Annual Sale « * - V- ~ / ;■/>- • '/hear#foe/ Yumifah * Y^oofacpc/
1 Decorated Drop-leaf Table, $46.00 value $32.50 1 Decorated Drop-leaf Desk, $32.00 value $24.75 1 Decorated Desk Chair, $16.00 value ... $12.50 1 Decorated Rocker, $16.50 value $13.75 1 Decorated Arm Chair, $36.00 value $29.50 1 Decorated Chinese Desk, $60.00 value $48.50 1 Decorated Chinese Chair, $20.00 value $14.50 l Decorated Breakfast Room Suite, seven pieces, $152.00 value $120.00 1 Decorated Breakfast Room Suite, six pieces, $122.00 value $97.50 1 Decorated Chest of Drawers, $45.00 value $36.50 1 Decorated Toilet Table, $45.00 value $36.50 1 Decorated Rocker, $9.00 value $7.25 1 Decorated Bedroom Suite, four pieces, . $141.50 value $113.25 1 Decorated Bedroom Suite, three pieces, $170.00 value $132.50 And Many Other Great Values.
Sander & Recker
Meridian at Maryland
Furniture Co. THE NEW STORE
The Busy Transfer Corner
NEW YORK, January 29.—A sweeping denial of all of Thomas W. Lawson’s charges against him, particularly his alleged association with Secretary McAdoo in Wall street deals, were made today before the leak investigating committee by Pliny Fisk, of Harvey Fisk & Sons,
New York bankers.
Among categorical denials made by Fisk were that lie never had a joint
Han fox, 17,000 house cat. 20.«X> civet eai. o.uw ringtail cat. 3.400 lynx cat. 6.500 wildcat, 12,000 lynx. 3,300 otter, 2 sea otter, 11,400 beaver. 20.000 wolf, 4,800 marten, 800 fisher, 7,000 badger, 14,000 kolinsky skins from Russia. 7.400 wallabys from Australia, and many other pelts. Two thousand Alaska seal skins will be offered for sale hy the United States government. A live silver fox will be auctioned off and is expected to bring at least *500. Buyer* representing firm* In Russia, England, FTance, Germany, Canada and the United States are attending the sale.
$5,500,000 Seven Per Cent. Cumulative Convertible Preferred Stock of th© HA YUAN AMERICAN CORPORATION tincorporated under the law of the State of Nev York) Owning and Operating Railroad, Public Utilities and Sugar Properties in the Republic of Hayti.
Registrar BANKERS TRUST COMPANY. NEW YORK CITY
Transfar Agent NEW YORK TRUST COMPANY, NEW YORK CITY
Wall street account with McAdoo and a ’Senator O,” that he had told Archibald
STEEL MILLS OVERWHELMED WITH FOREIGN INQUIRIES
Dividends payabla quarterly, January, April, July, October.
CAPITALIZATION
White or any one else that he controlled Secretary McAdoo and had offered to call him out of bed at an early morning hour to answer a telephone call, and that he had received any advance information regarding President Wilson’s peace note. Asked whether hia firm had ever enjoyed any advantages in transactions with the treasury department. Fisk replied negatively. He admitted that after suggesting to Secretary McAdoo that offices in a building his firm owned would be suitable for the federal reserve bank, he had leased the offices to the govern-
ment.
Knows White Slightly. Fisk denied that he had ever had a conversation with White, as described in the
Domestic Requirements Heavy Hampered by Embargoes and
Floods-
Mills
Lawson testimony. “I want to state positively,” he Xaid, “that the meeting de-
scribed never took place. I never had a conversation with White during which the name of McAdoo entered. I want to state that most unequivocally. 1 The banker said that he knew White “only slightly,” and had met him casually probably not more than half a dozen times. He had never, he said, had business dealings with him, nor did he belong to the same club that White did, as seemed to be indicated in the Lawson
testimony.
Banker for Tube Construction. Fisk was questioned as to the dealings of his firm in the stock market. He said that they were comparatively small.
NEW YORK, January 29.-American steel mills continued to be overwhelmed during last week with inquiries from foreign countries for steel plates, rails, cars, tin plate and for war munition material. Domestic requirements at the same time were equally heavy, while the mills have been hampered by railroad embargoes, floods and a lack of raw material to keep the plants operating at full capacity. \t is estimated that production in the Pittsburg district, where floods occurred, has been further reduced 10 to 12 per cent. Incidentally, shipments against contracts have been smaller in volume, while specifications against orders are sufficient to keep the mills operating at full capacity for six months or longer. Entente agents since the first of the year have been able to place large contracts for shell steel with four or five mills. Actual purchases for 1917 delivery, mainly during the second half of the year, are estimated at 500,000 tons, and Canadian inquiries are in the market for approximately 300,000 tons of billets and forgings. Export sales of commercial shapes are relatively small, but Italy has obtained 10,000 tons of billet? from an eastern Pennsylvania mill, and other small lots, amounting to several thousand tons, have been sold for ship-
PREFERRED STOCK (par value $100). callable at $110. Istfued Reserved (or future corporate purposes.. ! ORDINARY COMMON STOCK (without par value).. ^
(2,500 shares held in Treasury)
FOUNDERS STOCK (without par value)
ram ram ram ram •••
ram
$6,000,000
$5,500,000 500,000
• •••-• raw ra# • w
i s • • • *1#
60.000 shares 60.000 eharee
The Corporation has no bonded indebtedness and none can he created without the assent of 75 per cent of the Preferred Shares. THE UNITED STATES IS OBLIGATED TO MAINTAIN A STABLE GOVERNMENT IN THE REPUBLIC OF HAYTI
The Treaty between the United States and the Republic of Hayti, concluded in 1916 and now in full operation, is regarded as the strongest protectorate existing between the United States and any other Country, including as it does the maintenance of order and the receipt and disbursement of Government funds.
We believe the stocks of the Haytian American Corporation offer a most exceptional opportunity for the safe investment of funds, with every indication of increasing dividend returns- and base our conclusions on the following salient points:
1st. The Treaty between the Republic of Hayti and the United States of America.
ment to Great Britain at prices ranging m - pitts-
the major part of its business consisted of “over-the-counter’ transactions in investment securities. Such stock market business as it did was transacted through other firms, chiefly Foster & Lounsberry. sometimes for the account of Harvey Fisk & Sons, sometimes for customers. Fisk said that he was closely associated with Mr. McAdoo in the building of the Hudson tubes, his firm acting as banker -for the construction, but that he had seen little of him since he entered
the cabinet.
Asked whether he had anything to do with closing up McAdoo’s business affairs after he entered the treasury, Fisk replied affirmatively. On entering the cabinet, Fisk said, McAdoo turned over all of his securities, largely bank and trust company stock, to Fisk’s firm, and on them obtained a loan of $112,000. On January 15. 1914, Fisk said, all of the securities having been disposed of, the debt was liquidated and a surplus was turned over to McAdoo. Sherman L. Whipple, counsel for the house committee, said: “I want to te.sk you a question which it was decided\)y the committee in executive session to'put to you. Is it a fact that the federal reserve bank occupied a
ftur firm?”
from $58 to $63 a ton, f. o. b. mill,
burg.
Although inquiries for 150.000 tons of marine and structural plates and shapes are before the mills, orders for only about 20,000 tons have been placed for this year’s delivery. Most of the sale# are for domestic shipment. A few thousand tons have been sold for export to Japan and
Italy.
Pending Contracts Large.
2nd. The control of the Railroad Elecfric Light Plant, and Wharf and Warehouse, now operating under exclusive concessions at Port au Prince, the capital and principal seaport, located in the most thickly populated part of the country, together with the electric light property at Cap-Haitien.
3rd. The particular value of these utilities to the operation of an extensive development in the cultivation, manufacture and shipment of sugar.
Pending equipment contracts are heavy, but difficulty is being experienced in plac-
4th. The control of approximately 20,000 acres of the most valuable sugar lands in Hayti and a sugar mill of 300,000 tons grinding capacity, now in course of erection, located in the plains served by the railroad and adjacent to Port au Prince.
building belonging to your firm?” “Yes, during the first year and a half
of its existence.”
The witness said he personally had nothing to do with the negotiations for the lease of the offices to the bank, these having been conducted by the agent of
the building.
“Did you talk to the secretary of the treasucy about the matter?” pursued the attorney. \
ing orders. Car builders have sold 4,400 cars in the last few days, 2,000 of which are for export to France. Locomotive builders have taken orders for fifty engines, forty of wjiich are for a French railroad. Rail contracts amount to 50,000 tons, one-half of which is reported specifically, including 4,000 tons for export to South Africa. Prospective foreign rail orders amount to nearly 200,000 tons. Outside of Great Britain, Russia and France, the heaviest inquiries come from Spain, Portugal and Denmark. There are inquiries also from South America and the
orient.
A most active demand for fabricated structural steel is embarrassing to the fabricated shops with capacity already sold for frorn six months to a year, but contracts have just been closed for about, 50,000 tons, including 20,000 tons for an Armour packing house at St. Paul; 7,8UO tons for an extension to the Westinghouse electric and manufacturing plant at Essington, Pa , and 5,400 tons for improvements to a navy yard. Contracts pending call for 140,000 tons steel shapes.
5th. The specially favorable conditions of land and labor in Hayti for the economical production of sugar, as compared with Cuba where cost of sugar production up to the present time has been considered the lowest in the world.
Population par Preaant Ararat* Sq. Mila Daily Waga
$1.75
.20
GRAYFISH PROVE POPULAR.
, Araa Sq. Mila* Population
CUBA.... ^ 44,164 2,469,000 HAYTI 10,204 2,500,000 Labor constitutes not less than 60 per cent of the cost of producing sugar.
6th. The stability of the earnings due to the diversity of the sources of income. It is conservatively estimated that the annual net earnings for the Corporation will be $1,339,540, which will leave after payment of the 7 per cent Preferred Stock dividend, and the regular dividend of $7 a share on the Ordinary Common Stock, $552,040 applicable one-third for retirement of Preferred Stock (if any remains outstanding); one-thiren as an extra dividend on the Ordinary Common
Stock; one-third to the Founders Stock.
7th. The acceptance of Common Stock for a large part of their cash investment by former owners of the Public Utilities, who, after many years of successful operation, will continue to
assist in their management.
Used Proper Influences. “I think I did. I told him that our offices were best adapted to the bank of anjr in the street at that time. I said I would be very glad to have the federal reserve bank take a lease of our offices. It was Just after the outbreak of the war. Wall street was closed up and very few offices were available.” “Did you ask it as a favor?” ”1 didn’t ask it as a favor. I thought we had a right, however, to use any proper influence we could use.” Other Concerns After Leak. Two other concerns, he conceded, were seeking to lease offices to the bank at the same time. Fisk could not recall the price charged, but said he would procure the information for the committee, also a copy of the lease and the names of the
two other concerns.
Whipple placed before the committee the accounts of the market dealings of the Fisk firm during the leak period and asked whether they contained the names of any public official. The witness re-
plied in the negative.
Fisk said that since the leak Inquiry started Secretary McAdoo once declined to converse with him over a telephone, and again, in a Washington hotel, said publicly that untif the investigation was at an end they would have nq communi-
cation with each other. Said “Good-Mornihg.”
Asked by Representative Campbell when he last talked with McAdoo, Fisk said it was a week ago last Friday. ‘ I was leaving/the New Willard hotel when Mr. McAdoo came in,” he said. *T said ’Good-Morning’ to him and he passed me. Then he turned and said to those about him: ‘Until this leak inquiry is over, Mr. Fisk and I will have no further com-
Demand Is Tenfold the Available Sup-
ply, it Is Estimated.
Secretary Redfield, of the department
8th. The investment in the stock of the Haytian American Corporation by men of prominence in the sugar world and their service as directors of the Company.
of commerce, announces that packers of graytish estimate the present demand is tenfold the available supply, and that one large jobber in the middle west has placed his fourth order since the fish were placed on the market in November. The avidity w r ith which the retail trade and the public have absorbed the original pack has stimulated wide interest among packers, and the bureau of flsh-
The above securities have been underwritten and a very considerable portion withdrawn for investment; the baianee is offered by the undersigned for the account of the Syndicate.
PRICE: 100 and accrued dividend
eries is receiving Inquiries from cannery
~ gl*
men from New England to Florida and from Alaska to Oregon. A number of these inquirers are making experiments to test their methods, and some of them have expressed their intention to pack the fish in commercial quantities as soon as arrangements can be made. The Puget sound packers now canning grayfish 6re hampered by difficulty in obtaining
The Preferred Shares will be accompanied by 25 per cent in Ordinary Common Shares and 50 per cent in Founders Shares.
Delivery in form of interim receipts pending the preparation of engraved definitive certificates of the Corporation.
enough cans, but it is evident that graynsh will become a commodity of con-
Application will be made to list these Shares on the New York Stock Exchange.
munioation
Prior to that time, Fisk said, he had not talked with McAdoo for several months. He added, however, that recently he had members of his firm call Mr.
McAdoo by ^lephone and request him to
udience to an unnamed ■
$
grant an au
who was on his way to Serbia in the i
terest of a relief fund.
Fisk said his firm retains in Washington a newspaper man, whose name he could not recall, to keep it informed regarding government activities In which it Is interested. He promised to give the representative’s name later. He denied specifically, howevdr, that his firm had received any communication from its Washington representative between December 10 and December 23 relative to the
peace note.
siderable importance during the current
year.
The bureau of fisheries is not only lending assistance to the producer by helping him to solve his cannery and' marketing problems and by finding uses for the by-products, but, in co-operation with the department of agriculture, it is study, ing the consumers’ interests. The experiments have not been completed, but enough has been done to show that a can of grayfish provides about the same quantity of nutriment as a can of mediumgrade salmon, containing a little less protein and a little more fat. The fats are digested in about the same proportion as those' of other animal foods, while the incomplete analyses show that the digested proteins will at least exceed 90 per cent. "s. An interesting result of the analyses made by the bureau of fisheries and confirmed by the foremost investigators is Jhat this food is entirely free from uric acid, small quantities of which are found in aJl meats, in other fishes and in all poultry. The presence of this substance in the small amounts found In other animal foods has not the faintest signifleance from the standpoint of public health, but the fact that uric acid is wholly absent from grayfish may reassure some, who always hesitate to try new things, however low priced and nutritious.
Descriptive circulars may be had upon application; reports and opinions may be examined at our offices.
P. W. Chapman & Co.
Breed, Elliott & Harrison
126 W. Monroe St., Chicago
53 William St., New York City
105 South La Salle St., Chicago First National Bank Bldg., Cincinnati
Fletcher American Bank Bldg., Indianapolis
Lawrence Turnure & Co 64 Wall St., New York
Ervin & Company Drexel Building, Philadelphia
The above information, while not guaranteed, has been taken from sonrees considered reliable.
and export types totaled 758,318,835 pounds, -compared with 701,452,507 pounds October 1: cigar types. 231,737.847 pounds, compared whh 270,275,847, and imported types 54,768,526 pounds, compared with 58,290,911.
Chemical and Ordnance Stocks.
Louisville Tobacco Prices
[Gilbert Eliott & Co.. New York] Chemical Stocks—American Cyanamld, 23; American Cyanamld preferred, 49; By-Products
Market Overbought, He Says.
In response to questions from Representative Bennet, the banker said .that it was his judgment that the market prior to tho publication of the President’s note «*.*»** r\ r. ‘ ’ svsv*-, si ite. am a m Jl
dr
was in an
ready for a violent
overbought’
rop.
condition and All it needed
was an excuse. iwrar,- be
. declared, ‘‘talked, dreamed of or imagined a pool for stock market speculation with Mr. McAdoo or any other government official. Our busi-
ness is not stock gambling.”
In closing-bis testimony Fisk made the voluntary statement that he still thoughts Lawson's statement probably was the result of a "disordered brain,” and severely criticised him for dragging the name of Harvey Fisk & Sons into the inquiry. "Lawson should be taken at his word,” Fisk said, “and placed behind the bars on the oasis of perjury when he wantonly handles the name of a reputable citizen. If his statement is the result of a disordered brain, as it at>P«ars to be, perhaps the good Lord will take care of it in His
own way.”
Lawson, it developed today^ had been
ordered to remain in touch with the committee, as he may bge called at any time. He will not take his projected Oregon trip for the present, if the committee’s wishes
are regarded.
[Special to The Indianapolis News] LOUISVILLE. January 29.—Tobacco sales last week amounted do 3,205 hogsheads, of which 2,654 were new hurley, 416 old hurley, 119 new dark and 16 old dark. The market was the strongest this season on ail grades of new bur*ey. The largest advance last week was shown In the good tobacco*, which sold proportion* ately lower than the other grade*. The highest price of the week for a hogshead of hurley was *35100 a 100 pounds, and the highest price for dark was *13.50. High prices have caused a rush to sell, and figures Indicate that a total of 145,000,000 pounds has been sold on all hurley markets. Official quotations of the Louisville
Tobacco Board of Trade:
Old Crop: Dark red hurley—Green mixed trash, *11.00(^12.00; sound trash. *[email protected]; common lugs. *13.00©14.00; medium lugs. *14.00 @15.00; good, lugs. [email protected]; common leaf short, *[email protected]; common leaf, [email protected]; medium leaf. *[email protected]; good leaf. $16.00®
17.00; fine and select. *[email protected].
Bright Red Burley—Green or mixed trash. [email protected]: sound trash. *[email protected]; common lugs, *14 [email protected]. medium lugs. *[email protected]; good lugs. *[email protected]; common leaf, short, *13.00®14.00; common leaf, *[email protected]; medium leaf, *15.00@16 00, good leaf. [email protected]; fine
and select. *19.(Mi 23.00.
Couiy Burley—Green or mixed trash, *12.00@ 13.00; sjund trash. *[email protected]; common lugs, fll-OOfti 15.00; medium lugs. *[email protected]; good Tags, *19 00&22.00: common leaf, short, *13.00@ ■■Sira' common leaf, *14.00@1&.00; medium leaf.
Chemical preferred, 100; Electro Bleaching, 300; Federal Chemical, 89- Federal Chemical preferred. 103; Freeport Texas Sulphur, 536; GraaselU Chemical. 250; Grasse!It Scrip, 2o;
Grasselll Chemical. 2o«; urasseui acnp, no, Harrison Bros., 196; Harrison Bros, preferred. 95; Hooker Electro Chemical, 7U; Hooker Elec-
96; HooKer Kieciro enemies*, ru; nooxer tro Chemical preferred, 80; Kentucky Solvay, 275; Matheson Alkali (new), 68; Matheson Al-
' srrlt
14.000:
[email protected]; good leaf, »[email protected]; fine and
select. *[email protected].
NEW SEMESTER AT BUTLER.
No Important Changes in Courses or
Personnel of Faculty.
Everything is in readiness at Butler college for opening the second semester of the sixty-second session of the Irvington school. The spring semester start* Wednesday, which is registration day,
and class work will begin Thursday. 1 was announced through the president’s
office todav that there will be no important changes in either the eourses of studies or the personnel of the faculty. A temporary substitution will be made for Professor Charles UnderWood in the department Of history, as he will spend
in Oklahoma \Vi>
1916 Crop; Dark red hurley—Green or mixed trash, *[email protected]; sound trash, *[email protected]; common lugs, *[email protected]: medium lugs. *14.00 @15.00; good lugs, *[email protected]; common leaf, short, *[email protected]; common leaf. *14.<H>@15.00; medium leaf. [email protected]: good leaf, J 16.00® 19.00; fine and select. *[email protected]. Bright red hurley—Green or mixed trash, *12.00^13.00; sound trash, [email protected]; common lugs, $14.00@ 15.00; medium lugs, [email protected]; good lugs, *16.00@ 18.00; common leaf, short. *[email protected]; common leaf, *[email protected]; medium leaf. *16.00 @17.00; good leaf. *[email protected]; fine and select, *[email protected] Colory fburley—Green or mixed trash, [email protected]: sound trash, [email protected]; common lugs, [email protected]; medium lugs, *1100 @19.00; good lugs. [email protected]; common leaf,
short. [email protected]; common leaf.
kail preferred, 100; Merrimac ChemicaL 86; Michigan Limestone and Chemical, 23; Michigan Limestone and Chemical preferred, 19; H. K. Mulford Company, 63; Mutual Chemical, 150; Niagara Alkali preferred. 102; Semet Solvay Company. 312; Solvay Process, 300;
Standard Chemical, 125.
Steel and Ordnance Stocks—.'Etna Explosives preferred. 24; American Brass, 345; American and British Manufacturing Companv common. 5; American and British Manufacturing Company preferred, 20; Atlas Powder common. 165; Atlas Powder preferred, 100; Babcock & Wilcox, 115; E. W. Bliss common, 50; E. W. Bliss preferred. 75; Canada Foundries and Forgings. 190; Canada Foundries and Forgings preferred 90; Canadian Explosives, common. 100; Canadian Explosives, preferred, 104; Canadian Westinghouse. 115; Carbon Steel common, 95; Carbon Steel 1st preferred. 93; Carbon Steel 2d preferred, 75; Colts Arms, 795; DuPont Powder common new. 263; DuPont Powder deb. 6 per cent, preferred, 102- Empire Steel and Iron Company common, 38-'Empire Steel and Iron Company preferred TlJ Hercules Powder common. 295; Hercules Powder preferred, 116; Hopklns-Allen common. 5 Hopklns-Allen preferred, 35; Milllken Brothera preferred, 37; Nlles-Bement-Pond common. 176- Niles-Bement-Pond preferred. 105; Pennsylvania Seaboard Steel Corporation. 47; Rome Brass and Copper (extra dividend It) per cent.), •>75• Bcovlll Manufacturing Company (extra dividend 10 per cent.). 570; Thomas Iron Company. 23; Winchester Repeating Arms. 850; Woodward
Iron Company, 60.
common
Westinghouse to Build Plant.
PITTSBURG, January 29.—E. M. Herr, nresident of the Westinghouse Etectric Comnany. announced today that the*; comnanv had decided to build a plant te cost K000 000 to $7,000,000 at Essington. Pa., near’ Philadelphia, and work would be started as soon as construction plans could be prepared. The site, recently ac-
1 au.-v in V VitlQ Q f ITVTT t Q fiT*
snort, vw.w**iu.vu, COUIQ DO prtsyiii tru. xnx*
medium !eaf, *[email protected]; good leaf. *19.60@ ouired by the company, has a frontage
22.00; fine and select, C5.0*@».00. 0 * n Delaware bay of 1.800 feet.
three weeks in Oklahoma working in the "men and millions movement. Dr. Underwood’» classes will be taken by Prof.
22.00; fine and select. xza.gwyM.oo.
Dark: Rehandling—Good lugs. |10.50@11 00] ommon leaf, abort, *M.5«@11.00, common leai, 111 [email protected]; medium loaf, |[email protected]«; good leaf, *[email protected]. Export—Sound trash, *9 00® 9.50; common lugs, *9 [email protected]: medium lugs.
*[email protected]; good lugs. *K>[email protected]
Jabez Hall with the exception of the work In public speaking, which will be taken
by Fred Schortemeier.
Assistant V Professor DePoyen, who replaced Professor Cotton in December, will continue as instructor of physics and as-
sistant in chemistry.
Some Tobacco Figures.
WASHINGTON, January 29-Leaf tobacco held by manufacturers and dealers on January 1 aggregated 1,044,888.108 pounds, compared with 1.053,019,715 pounds October 1 last year, the census bureau today announced. Chewing, smoking, snuff
g«id Many Wage Increases Reported. WASHINGTON. January 29 -Wage increases ranging from 5 to 10 per cent, were given 1.118,000 workers in the United States during November and December. Secretary Wilson, of the labor department. has estimated in a compilation of figures covering thirty-eight states, and showing that 526 establishments increased the size of pay envelopes. A large proportion of the increases were voluntary. Strikes brought ninety-nine increases.
STATE SEEKS RELIEF ■ AS TAX RATE RISES
SIX PER CENT. LEVY WILL BE REACHED IN SOME POINTS.
MONEY DRIVEN TO COVER
As tax-listing time approaches there appears also the sinister shadow of many new forms of investment free from tax-
ation. The offerings are so extensive that state, county, city and township revenue
officials are apprehensive that, notwithstanding another considerable increase in rates, which is general over the state, the shifting of personal property into the nontaxable column will result In an actual decrease in revenues derived from
personal property.
This sterns more than likely in Indianapolis, where the tax rate has been jumped from.$2 58 to $2.69. This Jump is typical of what it is elsewhere. Reports from different parts of the state indicate that at least twenty-five cities and towns will have tax rates in excess of 5 per cent, this year, and in the northwestern part of the state the 6 per cent, rate will be reached. Such rates are recognized as confiscatory of all the income from ordinary investments In bonds, mortgages and other forms of credit and debit, if
the laws are enforced.
Securities Are Advertised.
Dozens of banking and bondhouses are advertising now that they have forms of
The Indiana Tax Association has shown that "Indiana people can not now loan Indiana money to Indiana farmers and manufacturers on Indiana mortgage or bonding plans to meet Indiana needs.” The feeling is growing that if the present legislature does ndt do something in conformity with Governor Goodrich’s plans to meet the tax question, a very serious situation will develop within two years. First, the shifting of personal property into nontaxable forms will reduce the public revenues from personality, notwithstanding the higher tax rates. Second, the shifting of property into such nontaxable forms will pile up all the faster the entire load on real estate —on farms and city property that is visible and can not escape—with the result that there will be in practice the single
tax.
'Effort in New York.
'[AIENTIC. AUXILIARY
New York Is one of the states that is making earnest efforts to get relief. The report of the New York Tax Reform Association indicates the sincerity of the effort. Duripg the last year 482 pages of tax amendments and new tax laws have been enacted, but the tax association re-" ports that there has not been relief from the “unequal, unjust personal property tax” or from its "handicap to Industry and Investment.” A dozen other states, including Illinois, are trying to meet the situation as best they can under handicaps such as are imposed on Indiana. All over the country the pressure for more public revenues is reported as being tremendous. In addition to the anticipated losses In revenue from intangible personal property. there has been a continuation of the exodus of Indiana men and women ot means, taking Indiana money out of reach of the confiscatory or near confiscatory taxation.
WISH TO SELL BONDS.
Indianapolis Light and Heat Company
Officers Attend Hearing.
C. C. Perry, president of the Indianapolis Light and Heat Company, amd T. ^A. Wynne, vice-president and treas-
securities which will free the holder of the necessity of paying taxes. They are
busy bringing out new issues in stocks urer, appeared today before the public that are free of taxation, and these will service commission at a hearing on a peundoubtedly affect the public revenue' titlon of the company for authority to yield. j issue and sell first mortgage bonds to the Reports from all parts of the United > amount of $400,000, to replace, as far as States indicate that about all of the states j possible, $427,320.56, spent in 1916 for imthat have not been able to break away : provements and betterments to the comfrom constitutional or other halters to the i pany’s manufacturing plant and service, antiquated general property tax system j from the income of the company and that Indiana is hitched to are passing;from the proceeds of short-time loans, through the same experiences. They are The city of Indianapolis waived appearface to face with a new situation which is ance at the hearing and was not reprereported as being due to inequitable and ; sented. C. N. Thompson and E. E. Scott unjust taxation. Nineteen states have | appeared as attorneys for the company, been able to get away from the general Testimony was given as to the amounts
property tax, and they do not seem to be having the trouble the others are facing.
On the contran - , their people and corpora-
at home
tions are investing their monej- at without the handicaps found in Indiana.
for improvements to the
company’s Service, and for new equipment. The total bonded indebtedness of the corporation is $3,628,000. The amount of capital stock issued is &120,000.
CONVERTED BRITISH LINER SUNK
BY TORPEDO OR MINE.
121 ON BOARD ARE RESCUED
LONDON, January 29. - The British) auxiliary cruiser Laurentlc, of 14,892 tonii gross, has been sunk by a submarine or I as a result of striking a mine, according| to an official statement issued by chs British admiralty. Twelve officers and men -were saved. The vessel went down off the Iriah | coast last Thursday. The commander of the Laurentlc, Cap«v1 tain Reginald Norton, is among the sur-' vivors. He was appointed about six months ago to the command of Ultra steamer, which was commissioned for pa« trol service In November, 1914.
Before being taken over by the Brit sh admiralty for auxiliary cruiser duty, the I Laurentlc was in the Canadian service of j the White Star Dominion line. The vessel was owned by the Ocean Steam Navi-
g&tion Company, of Liverpool.
In the first two years of the war the Laurentlc was engaged in doing patrol duty in the far east, but several months’ ago returned to European waters. While In the Pacific, the auxiliary cruiser held up and boarded the American steamship China. February 19, 1916, while that liner . was on a voyage from Shanghai to San I Francisco, and seized thirty-eight Aus*
manessm,?; ■ ' n .■HAvbnriM
trian and German aubjects-
The Washington government requeslod Great Britain to order the release of the men seized, stating that their arrest waa unjustifiable and unnecessary. The United States took the ground that the case wa* an exact parallel of the famous Trent affair. Being-met with a declination by the British government, the state department sent a second note, whereupon the British foreign office announced Its decision to re-
lease the Teutons.
Reason for His Opinion. [Richmond Times-Dispatch) Grubbs—What makes you so certain the Germans will not violate thetr promises aa to Mm conduct of submarine wartare? Stubbs—AJl the war experts are convinced that they will.
-r.-. .>
^
lYS \ -K', ... -
k
- ,d