Hammond Times, Volume 15, Number 67, Hammond, Lake County, 8 September 1921 — Page 7
Thursday. September S. 1921
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irra. Ca-herirae Jaxns ..f 1066 Kay evanuo has bji advised by thr- wir department, of th arrival in Hobokun. N. J., of the renmir.a of her son. Kerg-t. David Ruipli Jmoa of Co. F. 59th U. S. Infantry, who wao killed in a-tloa la the Argonn-, France, on October 16, 1318, while ssrvinK w'.-.h tha fourth division of which Ma reelncr.t was & part. The funeral wil! bo aeid at the mquest of Mrs. Jair. ?s under the direction of Edward H Larson Post No. 80!. V-ete.-ana of Foreign -"Wars. - who Invito the co-orxjr-t:vn of Hammond Post No. 16. Aneri--an Legloa. Spanlah War Vet:raris, Orar.d Araiy of the. Republic and other patriotic organizations, that fitting honor tr.ay be paid to a native son of Hammond, who gave his !:f in defense of our common country. and th'y are requested to get in touon with commander :J . K. Grinder as to arra.ngemf-r.ts for the funeral rrrilch will be held on arrival of the remains, which are expected by Friday, and If the funerai win held -.n dunday, of which further announcement will be made later. The Edward H. Iarnon Post are making; arrant; omer.t.i to have a caisson to carry the caskot. a firing suua-2 and a band that a proper military funeral may m accorded thla g-allant eoldler. Sergeant James was tne son of the late Aaron and Catherine James and a5 horn on Hinorsr street in Hanarrond on June 13, 1SS9. and and was a scip! cf the Lincoln and Irving .-irhoola and enlisted !n tho regular . . .r.y on July 7. 1917. at the ag of H y ars arid was Font to Camp (7r-?ene. N C, and assigned to ths 55th In'intry a part of the 4th Division of th. regular army and after trainingthere fr several months sailc-d for Franco in May, 1D1S, and the foliow'na; month was In action In Pai!iu "Woods, then followed Chatteau Thierry. Vs!eXt!vcr and-t!je Pt. Sltehl drivo and then the Arrsor.n Woods, wherii met his death, while in charirn -t a squad of his company, having been promoted for bravery in action. Besides his mother, Sergt. Jams I-avea at home a sister Margaret and brother Richard and brother l'anies James of 578 Stato st. and Thonas James. 921 Columbia ave . and "VV!!EYES Scientifically Examined Glasses Fitted. Satisfaction Guaranteed.
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Ham James, 7 llohman St., nri.l sisters, Mra. Hol.t. H!a,.mlro. 674 iloliiiiiin St., all of Hammond and Mis. U. Wifreemu of 542 Connecticut avenue. Onry. Burial b In l.k 11H1 cemetery la ifcarga of Undertaker Stewart .
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INTtRNAT'.CNAl. NEWS SERVICE NEW VOUK. St pt h -l'!Ji:ks, el.
Ins : American Fdry. .... American Tel. and Tel. Hliwrn hi KOiiiu; ; vn Bethlehem Steel 15 . . Orucible Steel ....... Lackawanna. Ste 1 .... Ijehi.nh Valley , Mexican Petro Mi.lva'.o Steei ........
: 1 L 6 7s SI 5 1 5 i 112' 24
L.ia.iJlWWJLJUJg-.U.J.lJIJl-ll'.l-!.! - "- V J. "J 1 Pure Oil 3 4',s Press! Steel Car 644 lUill Steel Pprlni 81 Kcadlnaf .............. 68 Uepub'.lo Btotl 4 7 Texas Co 85 H V. S. Steel Tfl'i Willys Overiantl 6 Sinclair
WltHAT No. 2 red. H-.V"-; No. i . red. U.!SVj1fl.3', N. 2 hard winter, i 11.(8 ; No. 4 hard winter, l.25W' j 1.26; No. 3 nv.r. sprlna. 11.33; -N"'-1 j nor. spring-. J 1 . 32 . 1 CORN No. 2 mixed, t54flt5ic: : No. 2 white. CaWaseo; No. 2 yellow, j C5V4O'-50c; No. 6 mlsod, 50o; No. 2 white, 65c; No. 2 yellow, CSS'&SHv; No. 4 white, E4C. OATS -No . 2 white. 33 Vs 3 4 0c; Nn. 8 whtt-c. 36M,a S7c, No. 4 white, 34 l' 31 ;1C. ritlCAOO LIVE STOCK. HOGS Receipts. 18,000; ruarket fair ly active and la'J25c higher. T .!'. $3 15; houvyweig-ht. 1 7 . Si S . 50 , medium. tS.63 i ) li; lisht w t-ight. ?9.6'- : ' 5 CATTliE P.eocipts. S.O00; market g-onruily steady. Ue- Sers Chit:e and prime. 5 ' -") 1 C . medium an I koo.1. ti.25riii 23, good find choice, J S. - lii. 40; c !iitn- nand mdiun;. $S.nrt5 ?.n-1. 0 Hutch. t ( attic IIe.ifcr.--. ,M.ii':i'8.T:; cows, $ 3 . 5-) 2" 7 . 00. P HKiCl' Receipts. 20.0 JO; mark . mof t!y 25.- bhxher; nrX- (S4 '.Vs.
PAGE SEVEN
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down), 1 7 " i l . 35 1 intnhu. culls and hinous. 27ajSSct ordinary firsts, 84ji i-nmin.)!!, $a.0iJT.25; jr-j?rt'sr wfrt?i-sfc. ers. 4. 7iJ?7-?" CllEKara-Jtfew twins. 118
dalstrs, l?fl?tici youn Amerloas,
(HirAOO I'lHIDI cr, UCTTKH Kwiji'., I.ihU Iu1i. extra cjf-Rinery, 4'ic; f.rts, as tjj lit t,tf .
llHc; longhornn, 13(Tl9"4o; hrlr-k. IS oi 1 ? H c . I.TVll lOVlTlr - Turkeys, J5C; chi.-ken", aoiTJRc.; sprlntrs, ISfiJIW;
roosters, IBvj gte, joc) ducks, SOS? Sic. rOTATOTS P.eieif.ts, 81 c; wrstrrn white, 1 3.00 3, 13; Minnesota Ohtoe, J2.5Jff 3.T3. VEAU-CO to 80 llxu. 13c; 70 to 8U lbs., I31jil4c; 0 to Hit !b., 18.18ci fancy. iTTUc,
6evral Birds With On A dltor tliratol to publ!sh the nain of a crtatai yowtf taoa who was iteea bugiiic aa3 ktaolac a (drl la tbo park unU hla aubacrlp. tloa to tha papr was paid tp In t week. Flfty-olaa young ccaa call4 ami paid up tha caxt flay, Mla two even paid a year la advanca. Tea Iihor CJarlon (Sao FraDtaco).
UNCLE SAM'S NEWEST DREADNAUGIIT IS LAUNCHED; HAS EIGHT 16-INCH GUNS
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The U. S. S. Washington sliding into the water. Ur.ele Pam's newest super-dreadfiaaght was launched recently at the yard of the New York Shipbuilding Corporation, Camden, N. J. Klisu Jean Summers, ten daughter of Representative and Mrs. J. V. Summers of Walla Walia, Wash., chrifctetu;d her. The main battery of the vessel will onsist of eight eixteen-inch 45 caliber breech loadinir riflci, n:ountod in four turrets, two forward and two aft. The secondary battery will consist of fourteen f;ve-inch rapid fire puns. For protection apainFt hostile jrun lire, all vital parts of the ves.sel will be .-doquately protected by heavy armor. The vessel is 624 feet six inches long. Its beam is r.inety-seven feet five and three-quarter inches, and its depth !orty-sevea feet two inches. It has a displacement of 32,600 tons.
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HURRY FELLOWS!
Those of you who Haven't written your acl for the Boys' Contest at The Model remember the contest closes 6 P. M. Friday, Sept. 9tK. Ad must not be over 100 words. Size of ad, 2x6 inches. Three valu- . able prizes. Boys' School Clothes IN THE NEW FALL SUITINGS $9.50 to $18.75 Most of These Have Two Pair of Kakkeri KAYNEE BLOUSES KAYNEE and ARROW SHIRTS $1.00 $1.50 SWEATER COATS PULL-OVERS JERSEYS In All the Various Shades
THE MODEL ROTHSCHILD 6k HIRSCH
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Outfitters for Men and Boys' HAMMOND, INDIANA
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-.'.- ' ivjik, - - ,v '-v ' ' I . 555 is. ' r - e. .si v - : -.41 rrVf--v,V V."V-fc.- 5 ,1 b- -i j;jr 7 .irv,,7-;t,tw,: Mi one of amewcs h-xss automobile rrr Jy yUU k i- ;v V, w --H V . " ' ' t 5 i.'A' -"5 'J' N P1ANT5-THOUSANOS OF STOCK vC-rrSfr V ( v V V . . l i - r.? !,' tN..:. -vv-. t,- v.;.a V .' k scat-epedovcrS ---C-T35? ? f l 1-5: v:-r?h-z?K " I HXS&J '- "l". . -'. Vf f":."': Jjii.;-;-'! g-T- 1 MR"-- ?-i: . r'..s . , . -1 s . i-' ' - s v , r -r.-- JJxrr-
Y. W-i.- - - - r ' 1 x. i '-) ? yZtKi itW Ol- NSW V0R5 FINANCIAL CENTRE IN 4. ' Vv - -5 ' VHICH A LAA6E PART OF THE NATIONS V Vvl. - t, . A- tNOUTRlES ARE FINANCED.
TKY??? iV0" EXCMANSa.WWCRE HUNDREDS OF THOUSANDS OF SHARES OF INDUSTRIAL, STOCKS CHANGE HANDS ANNUALLY
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By FHANCtS H. SIS30N ! their partnerships? How shall they fVlcs President Guaranty Trust j be e'ire that. In the possible sales Company of New York. j of large blocks of their stock for
ANY a small but growing future delivery in an active mar-
business situated far set, raore stock is not told thaa froro a money center has actually been Issued? rsaches a point In its i On the other hand, bow shall
Jeveloriment where Its managers i they protect thplr own Interests in 'eee an opportunity to erpand It I a money market perhaps a thou.into a larger business if they ronld sar.d or more miles away from the jet the additional capital necs- headquarters of the business? How 'ea.-y for such expaneioa. But there , shall they prevent the forgery of are many difficulties la the way of i thoir securities or their Illegal such sew financing. The business i trsnsfer? How be certain that Js usually a partnership or a close j their dividend payments go to the corporation, that is, on whose r!rlit persons, and that persons
stixk" 13 held as a permanent In-vest-nent by & small rroup, usually mada up largsly of men actively Jntsrested lu the business. As a .rui the members of this irroup 4-.ava no more money to invest.
voting either In person or by proxy at the annua! meeting of the company are properly qualified? Anyone watching the apparently haphazard buying and sellicc In Wall Street of large blocks cf all kinds
They are, moreover, jealous of of securities will readily eee what their control of the business and j a puzzle It Is to a novice. It Is hesitate to Jeopardize It by taking i estimated that more than a himIrx a partners other large local in- ! dred thonsand persons are actively ivfcgtors, even though such local j interested In the stock market as money were available. j frequent buyers and sellers. SevThe solution is an appeal to the ( eral hundred thousand shares of general public for tea needed j stock are dealt in annually in
funds. But how shall a comparatively unknown concern interest dlotaa?
investors? How shall tb- triterest ,
Wal Street. A large part of the ecnrlties of any corporation may change hands every year. Then before stock can be offer-
rvf these wid! -cvi.ered partners ! ed for sale the business must be
a Small Alabama cotton mill when such an industry seeks outside capital. ft ),-uy EMPLOYS A TRANSFER AGENT. -
knowlMce of all such legal requirements, and must exercise great care in regard to the statutes of the various States covering appointments of guardians, administrators and executors, as we'.l as
to the rerlace-
canlzed 3 to allow for a creatly ! for such work, is uuallv choen
increased stock issue, the value of! As transfer a rent for a ''"it --ira-1 statutes relating
the additional stock bein repre- tion, the trust coinpaay keps the j ment of lest certificates and t,3 the sented by the increased fcusine.'s, ' sto'-k ledfe-er, which Is a re-ord of j present authority of a person eignits future potentialities and any the name, ad-lrefs and holuin-'s of teg nnder a power of attorney, ne.v physical properties that n.aj i ouch stockholder. It also issues I Then there are always posaliiiilties
and eoUElHrsicxs stock cert fica-es. i cf forgery to tie uarceo ajia.t.s-
be acquired with the proceeds of the new stock issue. To effect a xeoricanization on a large scale safely, effectively and economically, requires a specialized financial knowledge and experience fre-
U.ds may he done ou tho surrender of old certificates, h3 vvhea a stockholder sells his hi-idJrigs to another person, or it may be done as a matter of original Issue, when a
quently not possessed by the bends I corporation Is ti.st organized, a
of an Industrial corporation. Furthermore, In order to market the new securities successfully they must be listed on one of the New York Exchanges the New York .S'ock Exchange itself, the Consolidated Exchange or the Curb Market. A company, therefore, which wishes thus to launch out Into a wider field and market its securities in New York City, usually finds It a frrent advantage to employ expert professional services. It must at least provide facilities for the rejrlstration and Immediate trans-
rs conserved? How will the managers keep them correctly listed la view of the coostact transfer of
reorganised. If it is a partnership fer and delivery of Its stock, and a it must be incorporated. If It is ; trust company, because of Its expea corporation It must be so repr-! rieoc and Us organize i machinery
stock dividend declared or the capitalir.atinn Increased. F.ut th trust company does more than thoso mechanical operations. The transferrin j; of stock under the various conditions v.-hich arise is a matter of ;Teat Importance, as the duties of a transfer ajent and the requirements for making transfers have become many and complex. There has t-een moch legislation on the subject, particularly aff&ct!n; estates, whereby the transfer function Is made of assistance to the Federal and State governments in the collection of Inheritance and stamp taxes. The transfer agent, therefore, amet have a thorough
forgery of the name cf the corporation officer signing stock certificates, of the name of the holder of a certificate or of the number of shares which a certificate represents. Few corporations cara nowadays to assume the responsibilities in connection with the transfer of slock. Under the rules of the New York market a corporation whose stack Is to be listed on the Exchange must hare a registrar, and thia registrar must be another corporation. Here anin a trust company, by reason of Its facilities for so acting, is generally selected. It is obvious tbat when capital stock is issued every precaution must lx taken to prevent the issuance of certificates for more than the authorized number of shares. This Is the duty of the registrar to see that at atl times the nam iter
th original certificates or of certificates issued in cases of transfers of ownership, does not exceed the number authorize.!. The registrar receives the certificates as they are issued by the transfer aeent, determines if they are within the authorized limits of issue, countersigns them, makes the necessary entries in its records and returns them to the transfer agent for delivery to the stockholder. If the corporation issues Its own stock and makes its ovn transfers, the services of a competent registrar are highly desirable as a check against over-Issuance of stock, and many corporations avail them
selves of this safeguard. It sometimes happens that a corporation at a distance from New York has a 0od proportion of Ps stock held locally, the rest being scattered. Wblle the corporation Is not unmindful of the benefits of a New Tors transfer agent and registrar, It may hesitate to take advantage cf their services in the belief that It would be a convenience to their local stockholders to have the transfer agent near home, la such a case the Interests of all st5ckholirs can be served by the appointment of a local transfer ayent and registrar and a New York co transfer ajent and co-registrar. Many corporations are profiting bv the advantages of a Nw Y'ork
of shares outstanding, whether of paying agent for coupons and divi
dends. In these day wnea eecri. J ties are so widely scatter"!
tbrougi.jt this ana rorein contries, a central agency for the payment of interest and dividends Is a matter of practical neresJty. Oftentimes the corporation will find the preparation of liste ct stockholders entitled to dlTldeade. the drawing of hundreds or thousands of checks, and their mailing at Interest or dividend time a considerable burden and lnconvealeace to its clerical force. But to the trust company, equipped with the latest mechanical deilces and with a personnel trained In sorh work, tbeee are matters of dally routine. The Issuing: corporation has then but one chock to prepare thet to the trust company for the total amount aad Is thus reliered of a vast mass of detail work. The paying agent likewise rader the direction of the eorporatioa prepares and malls notices of meetings, proxies, and similar forme, and distributes to stockholder annual or other report. There Is almost no limit to the services that the trust department of a weil-organiied trust com pen y can render to a corporation. If a corporation desires to lacreas its capital and to offer 1U stockholders "rights- to subscribe to the new stock, the trust department ce.n take care of the robscrtptioas and delivery of the "rights" to tte stockholders. A corporation ywish to offer its stock in exchange for the stock of another compaay; such an exchange can be pnt
through by the trust departzseat In the case of voluntary Hqairftlon of a corporation, the trait department can perform the work and distribute the eecurttlee and cash. When stockholders or bonSJroWers desire to pool their interest la a committee under an agreenseal
relating to some phase of a readjustment or reorganization, or form a "protective committee la the case of threatened lusolYenfy. or to create a voting trueA. V trust company ran relieve such a committee of the physical Uaadllng of the securities. In case a corporation is reorganizing, the trust company taay receive the old securities, issue to the security holders Its receipts, and, at the proper time, may redeem them for the new se-ur1Uea, It may also act as agent aad relieve the corporation's officers an 4 security holders of maay details 1b connection with the refinancing. The services of a trust company as depositary and agent are now a well-recognized necessity in ajy reorganization plan. Should it be desired to hold cash, securities, letters patent, deeds, contracts, formulas or other dceumenis In escrow, the trust department handles the matter under a strnple letter of instructions, or la some instances under an agreement In short, there is no stage in the existence of a corpration, froos eiganlzatloa to dissolution, where the trust company of today is not able to be of decided assintsooe ta any matter involving finance.