The New York herald. [volume], March 13, 1922, Page 6, Image 6

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*
AGAINST INSURANCE
FUNDS FOR HOUSING
Stoddard Withdraws Pro
posed Amendment to
Lockwood Measure.
MIGHT BE OBST'ACLE
Superintendent Says Unter
m.yer Claims It Will
Jeopardize Bill.
ANNUAL REPORT READY
Increase in Risk Business a
Feature?Will Go to the
Legislature To-day.
Special Dispatch to Tim Nbw York Heoai.d.
New York He mid ISurran. )
Album', Marrli 12. (
Francis R. Stoddard, Jr., Superin
tendent of Insurance, has withdrawn
amendments which he had proposed
to the bill introduced by the Lockwood
committee adding: a new section to the
insurance law and permitting insur
ance companies to invest part of their
funds in the construction of apart
ment houses to relieve the building
situation in New York. Mr. Stoddard
announced he withdrew his amend
ments because Samuel Untermyer pro
tested that the attitude of the State
Department jeopardized the passage
of the bin.
The question of such investments is
discussed at length by Mr. Stoddard
as one ?f the features of his annual
report to the Legislature, to be sub
mitted to-day, reviewing the activities
of his department for the last year and
recommending changes in the laws.
In answer to criticism made by Sam
uel Untermyer, following revelations be
fore the Lockwood committee, Mr. Stod
dard states that the department will not
grant further extension of time to the
insurance companies to unload their
Btook holdings unless they can show they
have made honest efforts to get rid of
their stocks. On one pretext or another
the companies have had two extensions
of ten year periods to unload securities
since first ordered to do so.
The companies show a gain of new
business during 1921 of nearly six bil
lions, which will bring the total clos? to
forty billions.
Prefers Freedom of Action.
Discussing Investments of life insur
ance companies, in view of proposals to
increase their holdings In real estate
and mortgage loans, Mr. Stoddard dep
recates taking away freedom of. action
from thef < ompanies by any compul
sory legi. :ion as sure to invite dis
turbing complications with other States
and to affect adversely the funds be
longing to millions of policyholders. He
further states that If merely permlssory
legislation be enacted to allow mortgage
Investments of life insurance funds In
orrler to relieve the housing situation,
the smaller companies should be elim
inated from the measure, and utmost
care taken that the Interests of policy
holders' funds be fully protected and
also be guaranteed an adequate return.
Referring to the criticism of the Lock
wood committee as to the investments of
fire, marine and casualty companies, Mr.
Stoddard calls attention to the clear dif
ference between the trust funds of lif?
companies and the funds of the classes
of companies which are of more direct
concern to their stockholders.
While more latitude may be allowed
the latter campanies, he maintains that
no Insurance company should use its
funds In stock .speculation, and advo
cates a change In the law so that an
Insurance corporation may not dominate
or supervise even directly another com
pany doing the same kind or Mnds of
business.
In particular, automobile losses were
excessive and were to a large extent
the cause of financial embarrassment to
several companies.
The rise In security values promises
to assist some companies to weather the j
bad underwriting experience of last
year, but this experience, combined with
the prevailing business depression, has
produced a difficult situation In lire and
marine lines, which has so far been met
without serious trouble.
Attention in called to the large de
velopment In ths casualty and surety
business. The stock companies engaged
In the lines In New York Increased from
flfty-six to sixty-three during the years
from It Id to 1129, and their net pre
mium writings from less than $165,
000.noo to nearly $181,0C ),000.
The figures as to reserve indicate
that the business of this class of mm
pantos was !n a sound and most satis
factory condition at the 'lose of 19 20,
and the indications are that the 1921
returns will reveal an equally favorably
condition.
Rail Bond SMnntlnn.
The bnll bond situation, which has
'\iused much annoyance In New Tork
illy, has been met by amicable confer
Hfice with the local authorities and
meaaures have been Introduced Into
the legislature to control the abuse*
that have developed. An addition to
the law la recommended providing for
group health and accident Innurance.
Mr. Stoddard discusses the subject of
rate making and urge* the amendment
of the law ao a* to authorize the de
partm?nt to pass upon rates a? to their
reasonableness, not only for Are Insur
nnco but for moat lines of casualty In
surance. Home caaea of unfair dlacrlml
natlon In Are ratea have been brought
to the department's attention during
1921 and satisfactorily adjusted.
Of the workmen'a compensation, the
report anticipates a lessening premium
income due to decreasing payrolls In
conscquenco of the prevailing unem
ployment. The total premiums In New
York during 1920 were M2.B87.12f>. and
losses $24,'tf>3,0r>0. The department rec
ognizes the value of competition be
tweon stock companies, mutual com
panies and the State Insurance fund,
and seeks to prevent unfair competition
Under fraternal Insurance, reference
Is mnde to the results of the first tri
ennial valuation made at the end of
1920. Of flfty-three societies doing busi
ness In Nsw York thirty showed an
actuarial Solvency of 100 per cent, or
over, nln* of 90 to 100 per cent., three
of 80 to 90 per cent, and si* of 70 to
80 per cent. Th<ux Is still need for
some fraternal socjWlea to Increase their
resources in order to meet the require
ments of the statute.
RADIO FLASHES, NOT GHOST,
SET ODD ANTIGONISH FIRES
'Spook Farm' Lies in Direct Line Between Powerful
Wireless Stations and Sparks Did Mischief, As
serts E. J. O'Brien, Boston Scientist.
tifiei ial Dispatch tu The Nbw Voek Hbkald.
Boston, Mass., March 12.?Edward J.
O'Brien, scientist, author and lecturcr,
makes the striking announcement that
' the mysterious fires on the MacDon&ld
: farm at Antigonlah were not being set
1 by a pyromaniacal Khoet but that their
! origin was the result of wireless flashes
between the two most powerful radio
stations on the Atlantic coast?on the
direct line of which he declares lies the
"ghost farm."
He adds he has ascertained that bther
mysterious fires lie along the direct line ;
between these two stations. All the !
fires, he asserts, show they have an
electrical source. These two powerful
stations are locatcd at Well Flce-t, Mass.,
and at Olace Bay. Mr. O'Brien con
tinues: >
"The MacPonaldn will have to move j
i their house out of the range of those
| powerful currents or that ia liable to
burn down, too, one of these nights when
atmospheric conditions aro Just right,
similar to those on the nights when the
fires were set around the barn.
"Take the map, trace the line, apply
i your scientific knowledge of wireless
! operation, study the curion? effects of
I electrical fires on ships and on land in
j cases where you know they were caused
1 by wireless currents and you have the
1 solution of the flres now being blamed
i on the (fhost.
"Mary Ellen mischievously braided
! the cows' tails and thought it was great
I fun. Whidden, the Halifax reporter,
r-arried away with enthusiasm, probably
' believed the ghost slapped him, but the
| blow was a creature of imagination born
of his tremendous concentration during
the night he spent there.
"Dr. Prince of Ne-w York is about to
give UP his quest. The story of the
nhoet is plain hunk. Your 'ghost' is
wireless."
C'albdonia Mills, N. 8., March 12.?
The spook hunter, Dr. Walter Franklin
Prince, was alone to-night in Alex Mc
Donald's little home over on the hill,
hoping the "thing" which caused Alex
and his faintly to vacate would get
l'rlcndly und suggest a gaoie of "tag."
He sent his companions out of the house
to the homes of neighbors, but before
going they were pledged to say nothing.
Then- are some here who believe that
Dr. Prince has already discovered the
secret of the ghost, or perhaps made its
acquaintance and arranged for a friendly
little chat to-night.
Dan McOillivray, a neighbor, said to
night: "I reckon the doctor saw all he
wanted to, else why all this gumshoe
stuff? We had one mystery up here all
winter, now we've got two," he added.
"First it was the ghost, now it's the'
ghost hunter."
No report was made public of the j
happenings of last night in the McDon
ald home. It was generally believed,
however, that if the ghost went for a
walk it managed tp evade Dr. Prince's
cobweb system of Jingling ghost alarms.
To-morrow morning Dr. Prince will be
Joined by members of his party at the
spook haunt, then all will leave for
Antigoniah to entrain for Halifax. Dr.
Prince will make a written report on
his investigation.
LOCKWOD ACCUSES GIBBS
OF HOUSING BILL TRICKERY
Continued from First Pa(\>.
say about what is to be reported out,"
Mr. Gibbs answered, and continued:
"There were five votes present withcut
counting Democratic Senator Waiker,
who was within call at the Capitol. I
had two additional votes, which made
enough to put the bills out. Anyway,
I don't care anything about your bills.
I am not against them; I don't care
anything about them. I am not inter
ested in them."
"Well," shouted Mr. Loekwood, "you
came from a town (Buffalo) where our
committee saved the people hundreds of
thousands, even millions. I should think
that would prompt you to take .some
interest."
"It you were so interested in your
bills why didn't you stay in Albany and
take care of them? All of your argu
ment doesn't alter the fact that you
didn't stay here."
Mr. Gibbs insisted that he had two
witnesses that he told Mr. Loekwood
there was to be a meeting of the com
mittee, but that despite this Loekwood
went away.
"I am not representing any insurance
company the way you lire," Mr. Gibbs
shot out as he turned away. That ended
the fray, but it did not change the
situation regarding the bills.
Mr. Untermyer, when asked to ex
plain the scope and purpose of the
State Trade Commission bil; and why
and from what tourcea comes the op
position, said:
"I am satisfied that If the bill were
understood it would receive enthusiastic
support, except from the criminal com
binations that infest the country from
end to end. They are quite right in op
posing the bill. It is the most construc
tive and one of the most important
ROME DENIES GIURIATI
AS RULER IN FlUME
Mission of Facisti Deputy Ap
parently Is Vain.
.Special Cable to The Nfiw York IIrald
Copyright, 1912, hu T|i- \'bw York Hitui.d.
New Yc.. Herald nnreuii. )
Konif. March 12. I
Tho decision of the Italian Govern
ment not to recognize as head of the
Flume Government the Facisti Deputy
Signor Gluriati, who arrived in Rome
to-day to confer with Carlo Schanzcr,
Foreign Minister, indicates a desire on
the part of the Government to find a
peaceful solution to the Flume dilemma.
In Flume i Giurlatl is opposed by the
Socl?t:ts, Zanella's followers and many
local Nationalists.
London, March 12.?A dispatch to the
London Times from Milan says tbat
Giurlatl conferred with Gabriel d'An
nunzlo, Saturday. It Is reported that
Premier Facta has persuaded Glurntl
to decline the proforred Commlssloner
shlp of Flume. Gluraitt's conversation
with d'Annunxlo, the Milan ftecolo says,
ha# been unfavorably commented on in
Flume, where d'Annunzio's return Is not
desired.
GIRL, 14, FOUND LYING
IN ALCOHOLIC STUPOR
Nothing About Her to Lead to
Identification.
A girl, apparently about 14 years old,
unidentified, was found last night on the
steps of the Jewish Hospital In Brook
lyn lying in a stupor from which she
could not be roused. An orderly who
was leaving the hospital picked her up
and crfrrled her Inside, where physicians
found she was suffering from alcohol
ism.
The police of the Grand avenue sta
tion were notified and they had the girl
removed to the Kings County Hospital.
She was neatly dressed In a black coat
with a gray collar, black stockings and
tan shoes. She had light hair and gray
eyes. Twenty-eight cents was found In
a purse she carried, but there was noth
ing about the child to Identify her. De
fective George Owens began an Inves
tigation for the purpose of establishing
her Identity and of finding where she
obtained the liquor.
CALL IT MURDER, NOT SUICIDE.
Membera of Watchman's Family
%my lt<i libera Killed Mini.
The policemen of the Oak street sta
tion who Investigated the death of
''linrlew A. Roeser, aged 81, a watch
man, who was found with a ballet "in i
the head and a revolver near his lwn<l |
on the third floor of the S. S. While I
I >cntal Manufacturing Company, 84 Mar- |
kef streijt. early yesterday, reported the i
ease as suicide. They paid Roeaer, who i
lived at 1H MiddletOtl street, Brooklyn, j
had been despondent sine., the death of |
his wife recently.
Members of Roeser"* f.-milly did not i
accept the suicide theory, snd Harry I
Roeser. a son, de< lared a murder hsd ,
been committed He said thnt he would
demand a Ml im"?irtfiwti<'r> to-wy on '
fit" theory th it hor .i ir. cnt red fh? far 1
t-uiy and killed his father.
parts of the committee's program. Per
sonally, I am opposed to trying to regu
late human affairs by commissions.
There has been too much of that sort of
regulation of late year*. But this preju
dice should not blind u* to the necessity
of a given proposal.
"Briefly, the bill requires every trade
association of which competitors are
n-embers to take out a license. In order
to secure such a license It must establish
to the satisfaction of the Superintendent
of Banks that Its purtfos is are lawful.
The bill places every sv.^h association
urder the supervision of the superin
tendent of Banks. Any corporation or
oftlcer of a corporation may then safely
become a member. It will be tnt duty
o' the superintendent to jee to it that
the association thus licensed operates
strictly within the law and that it is not
made the medium for price fixing, re
striction of output, division of territory
between competitors or other illegal
and unfair methods by which extortion
la now practiced upon tbo public.
"A business man who Joins or per
sists in remaining a member of an as
sociation that is not licensed will be
guilty of a misdemeanor. Complaint is
constantly being made b- busings men
that the anti-trust laws are inde/lnite
and that there is no place for them to
go to ascertain what they can and can
not lawfully do. If this commission bill
becomes a law they will know t ey can
safely join a licensed association for
legitimate cooperation oetv/een cempet
I itors and that the> must not Join one
I that is unlicensed. That ?vill b- a boon
to honest business and wili make It easy
to convict the others. _ _ ,
''Prior to the advent of the Lock^ood
Committee, if It hnd not been for the
Federal Trade Commission there would
have been no prosecutions by the Fed
eral Government. The commission does
the investigating and brings the proofs
to the prosecutor.
"If tho people can bo made to under
stand the Rreat relief this measure will
furnish the demand for Its enactment
will be Irresistible."
fails to find ghosts
TO SERVE A WARRANT
Policeman's Vigil in Jersey
House Proves Fruitless.
Sergeant John J. Ro'-lly of the Eliza
beth N. J., Police Department watched
for ft ghost in tho home of Mrs. DeMa
Meyers at 28 West Scott place, Eliza
beth from midnight Saturday until 6
o'clock yesterday morning, but nothing
happened. He had no scientific Instru
ments. but he did have a blackjack and
an automat*, and felt amply prepared
to cope with any ghost that got to
snooping around.
Mrs. Meyers got a glimpse several
days ago of a white shrouded figure that
moved with stately Ktap through a hall
way and asked Police Judge Otto to
issue a warrant for it The Judge said
he would if he could get somebody to
catch It. and Sergeant Rellly volun
teered. The police think it was some
one playing pranks.
high school student
INQUIRY IS ORDERED
Parents and Officials Act on
Charges in St. Louis.
ST. Louis, March 12.?A com/nlttee of
five was empowered to investigate the
charges of Victor J. Miller. President of
the Board of Police Commissioner.', that
Immoral conditions existed in Boldan
High School her- nmon* the student
body in a meeting of parents and of
ficial's of that institution and civic or
ganization this afternoon.
A r< solution presented to the assem
blage provides that five persons shall
hear the evidence Mr. Miller nss.Tted he
would give to a parents* committee only.
Charles Cunliff. president of the Pa
trons' Alliance of the high school, said
be would prepare at once for the hciir
ing with Miller, who did not attend the
"oov^Hyde, who arrived here lnte last
night from Jefferson City, was Invited to
the meeting by school authorities, but re
mained at his hotel. ^
asbury tide reveals
$800 DIAMOND RING
Special Ptopntrh to Tun N*w Tots IIWU..D
ASBURT PARK. Mar-h 12.?High tides
cutting out the loos, upper sand on (he
\Mhury rark bench to-day disposed
scores of eolns rnnginK from pennies to
half dollars, a diamond solltalr* ring
with a stone weighing more-than two
carat* a gold signet ring, half of a,
krold bracelet and other valuables The
diamond ring was found by lister
Se aged 17. Of 1404 Third avenue, j
I \vfished ?g:<tn?t a I1'1" suj porting the
Fourth avenue pavilion. Tnts was within
flrtv vards of the spot where New York
visitors and a party of friends sifted
sand all ?f one nl*ht last summer, after
| "be loss of a ring said toy Its owner to
have been worth 11,200.
White's find was ssld to be worth at
lefist $S00. fleorge M Kill I found a gold
?|gn?t ring with the Inlllnls "U M ' It
hurt a safety spring designed to hold It
: flrarr Another eerty
enmher f?l.nd fart of - h""VT mid
frrauelrt with tho Uute "ini.
Knock Down Woman and Rob
Her Private Bank on
Grand Concourse.
GARAGE IS PLUNDERED
Brooklyn Trolley Conductor Is
Robbed and Watchman In
Manhattan Wounded. '
Mrs. Catherine Duffy, 62, of 404 Ea?t
151st street. The Dronx. on her way to
the Grand Concourse Inst night from
the home of relatives in Sheridan ave
nue whom she hat! been visiting, was
attacked and robbed by two negroes at
166th street and Carroll place. They
stole $700 in Liberty bonds, $445 in cash j
and a deed which she carried la her I
stocking.
Patrolman Cornish and a crowd of
citizens heard her cries, but the negroes
Kot away. Mrs. Duffy was taken to The
Dronx Maternity Hospital near by and
later to the home of her daughter Mrs
(Harry Reed. 1064 Sheridan avenue."
where she had spent the day. Her In
juries are not dangerous. Carroll place
at the point where the attack took place
Is flanked by vacant lots and It was
dark.
Martin Stern, a silk salesman, of 526
V\ est 111th street, reported to the West
100th street station last night that yes
terday afternoon while his wife, baby
and a inaid were out for a walk four
men entered his apartment, overpowered
liim and tied him to a bed, taking a
stick pin with sixteen diamonds, a dia
mond ring and $60 in cash. Neither the
elevator operator nor the doorman of i
the apartment house saw the four men I
enter or leave, according to the police. I
Mr. stern declined to discuss the rob- j
bery last night, saying: that the police
were investigating.
Hoys Held fop Motor Theft.
Three boys alleged to have stolen the
automobile of Frederick J. Kleet, cap
tain of the police reserves of the West
Forty-seventh street station, were ar
rested at Kleventh avenue and Fiftieth
street.
The car had been left in West Forty
sixth street and the boya were seen in
it about an hour after the theft. Thev
were William Henn, 16, 791 Eleventh
avenue; George Hazel, 419 West Fifty
sixth street, and George Mullen, 19, 410
West Fifty-sixth street. They said some
to them58 presented the a immobile
When Joseph Ceclle, night manager
of Jack Dees garage, 241 West 107th
street, returned to the garage early yes
terday after driving a customer to his
home there was no response to the cus
tomary signal for employees to open the
I0?, ? admit the car. Ceclle finally
^ a sIde d??r and opened it. As
he did so a man Inside pointed a re
volver at his head and ordered him to
come In "and be quick about it." Ceclle
threw up his hands, and "when he was
inside two confederates of thu gunman
advanced toward him.
? TmC w"11 ,W,th the revolver struck him
Z ?,?,? ? IT'1 the ribs with
J , . I1* weapon, and he was
forced into the oasement, where he
found two of his employees, William Ratz
and Edward France, both bound and
gaged. Ceclle likewise was overpowered,
and the bandits then went through the
pockets of the three, taking $84 from
Cecile, $_9 from Franco and $li from
Ratz. They left Ceclle and his em
ployees 'n the cellar and escapi-d in the
touring car which Ceclle had left out
side the garage.
Ceclle finally succeded In liberating
himself and untied his employees. It
was found that the bandits had un
locked an inner compartment of the
garage safe and taken $150 in cash.
Stolen Motor I? Abmuloiied.
The automobile, the property of E. H.
Dobbs, a broker, of G01 West 110th
street, In which Mr. Coulle had taken
the broker to his home, wis found
abandoned In Riverside Drive near 116th
street. It had not been damaged. Cecil":
said ho thought he recognized two or
the holdup men as former employees
of the garage, and he thHito the key
with which the safe box was opened
was made from a lock impression taken
some time ago.
Two men who held up Benjamin
Joseph, clerk in a United Cigar store
at 337 East Fifty-seventh street, yes
terday escaped after a policeman had
chased them for two miles through sev
eral streets In the vicinity of Queens
boro Bridge. The bandits forced Joseph
to open the safe and stole the day's
receipts. Thoy overlooked 315 In a cash
register.
Raymond I.edda, conductor on a
Brooklyn crosstown trolley car, was held
up at Dyckman and Richards streets
and robbed of $25 by two bandits who
boarded his car and poked revolvers In
I his face, he said.
NIcolo Raspanto, 35, a watchman, was
shot In a mysterious manner last night
when In front of a building at Third
avenue and Forty-third street. There
recently had been a fire In the building
occupying the corner and Raspanto was
on guard duty there, lie said he was
bending over a stove on the edge of the
sidewalk In front of the placo when a
shot was fired at him from ambush. The
bullet struck between two fingtrs of his
right hand and caused only a slight ln
| jury.
8 NOW HELD IN THEFT
OF $100,000 WHISKY
Man Taken in Louisville Be
lieved Leader of Ring.
Louistillk, March 12.?In H. A. Col
lins, arrested to-day at his home near
here, charged with being one of the
twenty masked bandits who Friday
night overpowered twelve men and stole
$100,000 worth of whisky from the D. L. I
Moore distillery, Federal ngents assert
they have the leader of n huge liquor
ring. The arrest of Collins and Henry j
McCutcheor, his negro servant, brought j
the total number of suspects in the case !
apprehended to eight.
Federal agents charge the robbery
was planned and supervised by Collins
and that Louisville Is headquarters for
the alleged ru inring behoved responsible
for five robberies which .Jnce last Sep
tember have netted whisky worth more
than $1,000,000.
k. ok c. coNVnnTio.1 i*la;m.
The annual convention of the Knights
of Columbus will be held at Atlantic
City August 1, 2 and 3, It was an
nounced yesterday. Delegates from
flfty-nlne State jurisdictions of the
order In thft United States and from
Cnnn drt, Newfoundland, Mexico and
Cuba will attend.
M. TECLA & CO.
^Announce a T)iscount of
30% FOR 30 DAYS
On All Purchases of
Tecla Jewelry and Pearls
AND NO SALES TAX
R 16 years we have never given a discount.
The Bank of England reduces its prices oftener
than we do.
Even Oriental Pearls are forever fluctuating, but not
Teelas. There is a fixed and unchanging value to
these remarkable jewels.
Indeed, the extraordinary discount of 30% is dictated
by public policy, not private need. It is our contribu
tion to this period of concessions. It is also a Discount,
not a Reduction. No price is changed. What it was
yesterday, it is today, and what it is today, it will be
30 days from now. We have simply increased your
buying power by 30% for 30 days. After that, and for
long thereafter, business as usual.
We shall not soon again disturb the banking stability
of Tecla Pearls.
For Madam?For Mademoiselle?For Monsieur
For Now?For Easter?For Christmas
For 30% Less?For 30 Days Only?For Once!
Co^cs/T>e7^/
Tecla Necklaces, with or without Diamond Clasps
Rings ? Brooches * Bar Pins * Earrings * Bracelets * Dog Collars
Sautoirs * Dress Studs * Scarf Pins ? Full Dress Sets
And every other item of jewelry that fashion ordains
No change in Marked Prices. You Just Deduct 30%
10 Rue de taRabcRiris
7 Old Bond Street, London
Electric Trucks
Twelve Hundred Used by One Organization
The American Railway Express Company, to meet its
transportation requirements throughout the country, is
now using more than 1200 Electric Trucks. Showing the
satisfactory character of the service, 105 new electrics
have just been ordered. Of this additional number, 20
are to be added in the Metropolitan District to an exist
ing fleet of 346 vehicles
Electric vehicles operate at lower cost than any other
type. They possess an almost unlimited life?some in
active service today are more than twenty years old?are
easy to control, and are safe and dependable
Without obligation of any kind, we shall be glad to pre
pare delivery plans and routes, or to arrange for a dem
onstration of any type of vehicle large or small
The New York Edison Company
Automobile Bureau
cjft Your Service
Irving Place and 15th Street Telephone: Stuyvesant 5600