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DB LAWYERS SPLIT1
ON STONEHAM OFFER | James Insists on $2,000,000, but Blumenthal Calls | $200,000 'Nice.' CENSURE FOR BROKER -? Head of Firm 'Permitted j Wholesale Robbery of the j Worst Kind/ Is Charge. | WAR ON 'FLY-BY-NIGHTS'i Creditors' Connsel Favors a Board of Censors to Pro tect the Public. Creditors of the bankrupt brokerage house of E. D. Dier & Co. have been advised by counsel to withhold their acceptance of the $200,000 offered by Charles A. Stoneham, owner of the New York Giants, until a thorough in-* vestlgatlon of the details of the failure of the firm has been completed. It be came known yesterday. Opinion of the various organizations of the oredltors differs somewhat on the policy to be adopted, and to clarify matters for them, a special meeting of all creditors In this district will be ?ailed within th? next week or ten days. From the Western creditors of the Dler house, who are represented by C. C. James of Chicago, comes word that a payment of 25 per cent. Is not acceptable to them. In the words of Mr. James, according to Daniel W. Blumenthnl, who is working v.1th him at this end of the matter, "Mr. Stone nam will have to 'shell over' at least $S,000,000. <Hnnph?ni'K Action Cnlled \lcf. "Mr. Blumenthal, who with his brother, I Maurice B. Blumenthal, Is attorney for more than 500 Dler creditors In this dis trict. said yesterday that he did not exactly share Mr. James's opinion re garding what Mr. Stoneham should be requested to contribute, and said that he thought that the baseball man's offer of $200,000 based merely on what the latter terms a 'moral responsibility' was a 'very nice thing to do, considering that be -Is evidently innooent of any part In , the Dier failure.' " Regarding Elmore D. Dier, head of the brokerage firm, Mr. Blumenthal spoke quite differently, saying that both he and his clients felt that "Dier per mitted a wholesale robbery of the worst I kind." Whether Mr. Stoneham has been ex amined by the attorneys for the receiver, I Manfred H. Ehrlch, is a matter which seems to be rather vague in the minds of both the attorneys for the receiver and for the creditors. According to Leo Bondy, Mr. Stoneham's attorney, the baseball man was questioned when he returned from Havana some weeks ago. Until Saturday the attorneys for the -receiver intimated that Mr. Stoneham had not been examined, but when told of Mr. Bondy's statement they refused to say whether Mr. Stoneham had been , examined by them. Liwyrn Mnlnly Prrdrnt. It Is quite probable that a preliminary examination of Mr. Stoneham took place *t the meeting referred to on Saturday by his attorney, who said that at the meeting, which was attended by lawyers mainly, the offer of the $200,000 contri bution was made. In a letter written yesterday to Die rict Attorney Joab H. Banton by Mr. VlnmerMhal. the organization of a na 1 o:ial assoclntior to protect Investors fan suggested, to cooperate with the ?\.:tl:orlti? .??, should the plan of the DIs rict \ttorney to have strict supervision "f broker* be adopted. This committee, .'i tentatively suggested, would be com . of prominent financier* of repu tbie t tundlng In the various cities the country, who wou'd pass on the ? ability the would-be brok r before i; iter be peimitted to practice hi* f-Htle. , n tlitM way, it was mi,treated, a board ?' r?H.<blo censorship on "fly-by-night", "?iMll'crHgo houses would be established. ! T has been pointed out that the present! ? i editions permit any one with sufficient | ?<i>ltal to open and maintain an office. | . tine, business as an "lnvestmen* 1 i>: vjer," and countless of these "brokers" ! 5 , ve, according to various lawyers now ? vv' gatinar their activities, "tuddenly 'vi-app'ared from the lobbies of our best hotel* and gone hurriedly In the genera1 direction of Mexico or Canada." ANDREWS'S SECOND Wl*E FIRST SING SING CALLER Former Broker Forgets No. 1 in Giving Prison Data. Herbert Thornton Andrews, broker, | tinder two year*' sentence In Sing Slug,! revived as his first visitor yesterday, as ; fi'ion as he was eligible to receive Rollers, j ils second wife, Mrs. Esther Tetnall Ar-| drew*, whose name and address at 9, Spruce street. Jersey City, he gave to I the prison officials as that of his wife. When Andrews was on trial here on the charge of dcfraud'ng Horace Van Vleck of Montdalr of $20,000 In necurl ?lee on which he received his sentence, only his first wife?, Mrs. Maud Havtie* Andrews, trade a plea In his behalf for clemency. JVhlle living wltii his first wife Andrews tools to his Jersey City home the second wife, who was ft Plttn imrch stenographer. PIRATES AT TRAVEL SHOW. Pink Ten for llneenneer* W III lie , Kentnre of Interest. A Pink Tea for rraetlc;-! Pirates Is I ?n rdded feature of the Travel Show which will be held in the tirand Central Palnce In the week of March 25. Mrs. Marie Beynoti R-y, fiction writer, for merly m nririlng editor of Vogue, will be the hostess end r'eslres to pour for real, regular pl-atew, active or retired. Creole Bill Peddle, formerly buccaneer ing In the Indian O-ean, he* R. H. V. P.'d and Sullo Granada. ex-terror of the West Indies, wirelessed an acceptance. % All ex-pirates (and active ores If they elect to take a chance) are re quested to wear r>gul tlog pirate clothes ?brar* eairlrg", knlfo Hi front tec;h. red hcadkerchief, short pant* and red hash. (ienulne pirate* rnil not th<; Broadway kind arc the guests tleslrel. The reception for pirates will 'to held at 4 P. M. March JP. Alabama Town Creates Eve Street From Adam Specicl Dispatch toTue New YcdK TIiuai u MORIL13, Ala., March 12 ? Yea, this is tho day of woman. Recognition of the fact wns made to-day by the City Commission when it created nn K*e street from Adam atrcet. The process did not involve any taking of ribs, however. This res olution did the work: '"Therefore, Be It Resolved, that the street running north and south in Oak J ale, heretofore known as Adam street! shall be in the future designated as Eve street." FUNDS FOR NEWTON TO FIGHT BUCKETING Blue Sky Bills Shelved and Martin Law to Be Used Against Swindlers. Special Dispatch to Tho New Yob it Hmuld York H'mld lliirmu, ) Albany. March IS. f The Legislature will give Attorrey General Charles D. Newton the money he needs to get convictions fn scores of cases of stock swindling %nd bucket shop operations. In the supplemental appropriation bill Is an item of $10,000 with which the Attorney-General CAn engage accountants to examine the books of firms accused of bucketing. He had asked for ?20,000, but agreed to the smaller appropriation on the assur ance that If it is not enough he can call on accountants in the Stato Comptrol ler's office. Tho Martin law of last year em powered the Attorney-General to inves tigate and proscciito stock swindler complaints, or to proceed in such cases on h!s own initiative. He designated Major Rich of Brooklyn as a special deputy to act under the Martin law, but found that his hands were tied through failure of the Legislature to appropriate money for accountants. With the State appropriation the At torney-General, it was learned to-day. Is now ready to proceed against many questionable firms that have been im mune from the law. It is expected there will be many convictions and numerous swindling operators will be driven to cover. "Since the Martin law went into ef fect." said Attorney-General Newton. ' we found evidence that absolutely con vinced us that the laws against plain thieving- and misrepresentation were belne violated, but we could do nothing because we had no money for account ants to examine the books of the buck eting firms. The books will show in black and white the practices that these people have resorted to, and If there has been any wrongdoing they will produce evidence that cannot be questioned." Attorney-General Newton, as well as the legislative leaders, believe that mak ing it possible to enforce the Martin law Is the most practical way of curbing the epidemic of stock swlr?dllng. For that reason the Betts, the Katlln and all tho other blue sky bills introduced at this session have been abandoned. The Betts and Katlln bills are similar, except that one puts control of brokers under the Secretary of State and the other gives supervision to the Superin tendent of Banks. Both call for the licensing of brokers and for the filing of complete 'nformation concerning all sales of stocks. At a recent hearing on the Eetts bills representatives of the New York Stock Exchange opposed it as impracticable and declared that enforcement of the Martin law of last year was the best means of driving out the bucket shops. *as ^'sc'08e<l at the hearing that a uniform blue sky bill for all States la now being prepared and will be ready for introducing in all State Legislatures next year. $25,000 GIVEN HERE TOWARD WILSON FUND Intensive Drive Starts To-day in $1,000,000 Campaign. The New York State Founders' Com mittee of the Wnoflrow Wilson Founda- J tlon. composed of 300 prominent men and women of various political beliefs, has pledged $100,000 to the fund of $1,000,000 or more which the foundation is raising to endow Wilson awards for distinguished public service. More than S25.000 of this amount already has been j contributed and an Intensive drive will J h? be^un to-day to collect the remainder. Judge Martin T. Manton of the United! States Circuit Court of Afipea's. In chair- < man of the group. Its working Is being! directed from the natlo'nal headquarters! of the foundation at "lBO Nassau street. I The committee Includes Bernard M. j Fartich, G^ortte Creel, r.ainbrldge Colby, I Thoman W. Gregory, Henry Morgenthau, j Walker D. Bines and David Hunter! Miller, KILLS SELF; FATHER STARVING j llflrrnt, NT, la FoodlcM n* Son's Body Knnarx Three !)???, ruTN'AM. Conn., March 12.?The body | of Irving Summer, aged 54, was found ! hanging from a bedpost to-day In his : home at North Ashford. It was believed j he had hanged himself throe or four I days ago. He had not been seen since ! last Wednesday. In another room of the houwe laj* the dead man's father, Jesse Summer, who is 87 years t>ld. and so feoble he la un ablo to leave his bed. He was uncon- i sclous when neighbors arrived and ap parently had not had any food sines his son'commltted suicide, A physician said to-night that the aged man's condition wa.a serloud. HUNT 3 ESCAPED CONVICTS. Mlehtirnn Poller Rirnptnre Tito In MARQt'itTtr:, Mich., March IS.?State pollen to-night wero continuing a search in all "varta of the upper Michigan penin sula for three long term prisoners from the State reformatory here, who, with two others, escaped from the institution last night. Two of the escsped convicts wore re captured in ? ?rvnnip tK nr the. pri.?on soon after they >roko through the roof of the reformatory. HAVKH W 11" V. AFIHK. Mm Klin MeOravcs. aged 55, of 404 West Forty-fifth street, w. s preparing dinner for her husband James hint eve ning when her dreps was ignited by a Has range ip the kitchen. She ran through the aparrment, her clothlnn ablaze. McGrnves caught his wlfo in the parlor, threw her to the floor and extinguished tie flames by wrappltg her In overcorti. Mrs. McUrpws w s burned so severely about the hands, face nnd body that physicians at Belle vuo Hospital said last night she had slight ct>nnce of recovering. Her husband suf Commission Engaged in Nationwide Drive Against Crooked Promoters. COMPLAINTS MULTIPLY | Officials Unable to Catcli Up With Task of Inves tigating Frauds. INVESTORS ARE WARNED Advised to Communicate With Washington on Suspicious Stock Selling Concerns. Special Dispatch to Turn New xobk Hptai.d. New York Hemlil Rnrenn ) Washineton, D. C.. March IX. ( Swindling of thousands of small in vestors through wildcat stock promo tion and bucket shop schemes is being fouglr-t throughout the United States. Cooperating with the Post Office Department and the Treasury the Federal Trade Commission is engaging in a nationwide campaign against the class of swindlers exposed by The New York Herald. Thousands of letters are being re ceived from persons who have been persuaded by false statements and advertising to invest their life savings in worthless stocks- Complaints are piling up on tko commission faster than they can be handled with the present force of investigators. Adrtce to Invmtora. Given a reasonable time, the com mission can learn the exact financial standing and plans of almost any cor poration, Secretary J. Paul Toder says, in advising that before Investing in stocks and bonds concerning which there is suspicion. Investors communi cate with the commission. The commission is in a position to throw the full light of publicity upon the financial standing and methods of operation of all corporations in the country when this action is deemed ad visable. In addition the commission is exercising Its authority where de liberate fraud Is found to halt the sale o" stock by tricky promoters doing an Interstate business. The commission can Issue an order to any corporation to "cease and de sist" from the sale of its stock where fraud is proved. This Is under the statute giving to the commission au thority to prohibit practices in busi ness which are unfair to competing \ concerns and to the public. Fraud al- i ways Is classed as "unfair." Motor Concern'* Promotion. Thus far the commission has investl- j I gated the affairs of thirty-two corpora- I i tions at the request of owners of stock I i in them. It recently Investigated an I ; Illinois automobile manufacturing cor- | ! poratlon which was selling stock In ' jSojthern States. Although this con cern never had produced a car. it had j disposed of nearly $3/00,000 stock and | other securities. It offered to nell cars i at a discount to all stockholders. ITn- I der this plan the concern interested j thousands of persona, most of whom lost their money. In the case of a Delaware corporation ' organized to conduct an oil producing i company and a bank, an investigation | showed that the officers were finding j a ready sale for worthless stock by pretending to set aside a certain per centaga of earnings for charitable nnd philanthropic purposes. This corpora tion was organized with the assistance of a woman, who was the wife of the ' president of the company The couple . were advertised as promoters who had pccumulated Jl.OOO.O'X) In a private for tune In oil and were endeavoring to operate a big business for the benefit of charitable purposes. The corpora tion's advertisements and prospectuses were found to contain untruthful and i misleading statements. Mrthn<l of Investigation. When complaints conferring ntoek schemes am received by the commls- ? slot) Its first act la to send to the cor. . I oration promoters a questionnaire. Failure to reply makes thr> corporation officials liable to fine of J6.000 or one year In prison or both. A correspond- i Ingly heavy penalty 1h attached to the i return of false Information. Almost every aspect of the corpora- i tion'3 financial affr.lrs, plan.-, for the Tuture, method of doing bnslnena and standing of the officer* must be d's- . closed if the questionnaire be correctly answered. Under the law the Federal Trade Commission mav make public tf-e questionnaire in whole or In part. Agents of the commission are trained In the rtudy of these questionnaires If Is explained that It is very difficult for a Fhady promoter or trick corporation to conceal dishonest motives. Where the questionnaire indicates thit the corpo ration Intend* not to operate to the bot Interests of Its stockholders, the com nilreion may make public the aruitvers to warn other Investors. Under the questionnaire system th* Federal Trade Commission is In a po- | sit.lon to exercise the porters of a Fed- , eral blue sky law agency. PnMlelty Fxpotea 'wlndllnj;. Publicity is death to swindling stock schemes. Because of the necessary legal delay Involved in the collection and announcement of the Information contained in tlio questionnaires It Is soinetlmen possible for trick promoters to brltiK their stock selling campaign to a whirlwind close before the commis sion can bring to bear upon them the pressure of publicity. The comtnl'fllon Is powerless to act -'?.gainst corporations which are operat ing Completely within fho boundaries of a single Btats. It Is only when their selling campaign stretches over a State line thai, the Federal Government can get Info the game. When complaints are r*celvcd bv the commission nnd the questionnaire pm e?s Is romnlet". th" n*'Xt st<n) Is to bold healings for the presentation of evi dence. t?nd"r the I w ? b respond "t corporation may have thirty days In which to prepare Its evidence. Several more weeks ure required before tb) cate finally petit to the point of final adjudi cation by the commission. When the evidence Is all in the com mission reviews it nnd decldcs whether an order shall be Issued to the corpora tion to "eeaie and desist" from Its un fair practice. This order acts as en inlunctlon ard <"an be enforced through the courts. It eon be made to operate ffectively to prevent any corporation om veiling stock by traud and diet onesty. Fuatal luaprolori Help. Backing up and cooperating with the Federal Trade Commission are the in vestigator* and business detectives of the Post Office Department. Spriad over every section of the country this force of investigators continually Is on the lookout for stock swindling schemes. Complaints are received by th-3 Post Office Depnrtnient at the rate of several '??undred a day and action by the In spectors Is prompt and efficient. In the Post Office Department Build ing here Is a large room crowded from floor to ceiling with files containing re ports of Investigations by Inspectors. A ery large percentage of the reports have to do with stock swindling schemes. Most corporations In conducting stock selling campaigns uso the mails to a very large extent. This gives to the Post Office Department its lever to dis lodge dishonest promoters from thel" money grabbing. Misleading state ments In letters and advertising sent through the malls lay the tricky pro moter op-n to proaocution. Oil production is the favorite vehicle for the organization of corporations by 'rlcky promoters. This is becauso of the publicity that has been given to the oil business nnd to the aileprcd large fortunes made ovei*night through lucftv ventures In drilling operations. An ?Oklahoma corporation recently '?as or "?n'zed to sell 5,000,000 shares of oil stock at 10 cents each. It was success ful until the Federal Trade Commissi ~n oxpo?ed It. T>'e loss was In the neigh borhood of $500,000. Another oil concern "old a large number of shares at II es eh. Fraudulent Intent TInrd to Prore. Few oil corporations bo<rli ooere "*lth a capital stock plan of less than *?ooooco the reeonln show. A capltsll '/.aMon of $1,000 000 tn considered modest Tt 1s very difficult for the Government investiirators to prove fraudulent intent hy promoters. There Is nothI"ir Illegal, of course. In s Inr-i-e capita ligation nor In the sa'e of millions of do"ars In stock. It '? Pointed out. however, that to drill a well to test n trlven 'reality for oil cost but $10. wo or rB.ft'rt. A concern "?hich pel's ml'Mons of do'iars of stoe 1c before it begins to drll' Is retarded as "itsplclous. Some have paid cash dlvl ?lends before a single acre of land whs i"'ned. The plan of the oil stock promoter Is *o or"cnlzp the enmranv, tal <n(r a larpe Mock of sto^k for his labor. Tills Is ?ultimate. But the plan, as If Is gen erally worked Is for the promoter to wll h's stock and then roelen from h's position as executive nfcer This usually loaves the stockholders with a large number of dehts. no ns?f>ts and most freouentV without Irtnd machinery or other naraph?malla of production. Some corpor?tlons>. orflfbed hv pro moters who intended to sell their stock nnd th??n ms.ke a tr?jt-R'"a\\ have cone to thp point of mnVine- monev desn'ta the dlshonestv of the offers On rec ord fit th? Post Off'co Department are several such case? This la contraty to thp nrocpiiife ft*" t^io pro moter. It interferes with his p'ons. pjnns do not include the resoonsl b'l'tv attendant unon the management of a going concern. Next to oil the favorite r^h'cle of "?oclt promotors Is the automobile. -Hion eomes the radium comnanv. the slrp'ape msnuroctnr'nar line and finally tho finance corporation. Soitif* Tent ftnM<lnni. Rome of the information renulrefl of promoters In the qtipitloBtiKlro ow'l bv the Federal Trade Commission Is shown In the following nuesHons chosen at from the questionnaire form: Name of oomnnny? State of Incorporation? Statutory ?f Pfjnr-fno| Places other than prlnetnal offce T.'h^rf? company maintains office or does business? Amount of preferred and common stock authorised; state par value of each? Amount of preferred and common stock Issued? State the name of promoter or orpan-' Izer. State previous business connections of promoter or organiser. What compensation or benefit was received hv promoter or organiser? j Annex con'es of all promotion agree ments find proposals. To whom w'r snob stock Issued and ' for what consideration? TVvsoHhn brir"v the business niimo??-< j and objects of the corn-innv: where It Is j to be conducted: the facilities and plant ; avnt'ab'e therefor? What Is th" company's mmedlhte plan I of action? What amoun* of money will be necessary to acoompluh It: how Is It proposed to raise this money what stocks or securities arc o be sold there for or have been sold, and op what i bafls? How much has been paid to date as commissions, bonus or salary to stock salesmen? !)<? inn nil for Mtfrntnr*. Annerc copes of all literature, adv<*r tlscmenta. prospectuses and .'?Irculars used In furtherance of tne sale ot stocks nnd securities by company or others, anri ?nv Inst met Ions ?o s*o<-k ?*,l????w>n Describe accurately, but briefly, the properties acquired, real and personal, with all Improvements or plant ,iow on. or to be placed thereo 1. the amounts raid or to be paid In money, stocks, bonds, securities rr otherwise, therefor, and the actual value of -ach pottlon or parcel thereof. Give similar description of an) prop erty or properties which the company h?s contracted to acquire or intends to acqu're. Annex (1) trial balance; (8) last balance sheet, or balance sheet prepared for the purposes of this report; (8) profit and loss account. Give the sross Income from opera tion or production during preceding twelve months. Do you offer to accept, exchange or diaposo of Thrift Stamps, War Savin* Stumps, or Liberty bo..ds In order to sell your own stock or securltie ? If your answer to the last question or any part thereof Is "Yes," Will you voluntarily cense gnd desist from such practices In the futur"? JERSEY METHODISTS GET ASSIGNED TO-DAY Deacons and Elders Ordained at Atlantic City. Atuntic Citt, March 18.?Bishop H. | Lester Smith of India preached the an nual conference sermon before the New Jersey Methodist Kplscopai Conference to-day. , The following wore ordained deseons by Bishop Joseph Berry, assisted by Hiahop ?mlth : The Revs. A. L. Dnvles. 8. Tt. Latham, O. 8. South wick, Harry Van Cleaf and H. C. Hanck. The Kevs. I. 8. Pimm, J. F. Dorrnan, N. D. Kclley. Lynwood Miller anil J. P. Toi lette were ordained ciders. The pulpits of virtually all the Protestant churches of the city, with the exception of the Kplscopallan, nvro occupied to-day by de'esrutes attending ; the conference. Nothing definite is j known ->>encrrnin(r the pulpit assign- j ments. which will be announced to morrow. UKoitat.t^ra i.vvrn wi:<;no. . Ati.anta, March 12.?Chorcr.l with nhootlnr 1. O. Anderson, n white farmer : near hero, Alfted Williams, negro, to day was taken from a posse, which | was bringing Mm to the Jail here, and . . lynch c" \t.rt-r?on trill r vscver i HUNDREDS OF BILLS GOING TO SCRAP PILE I Scramble Made to Help Pet Measures as Legislature En- i ters Final Week. Special Dispatch to Thu New Yobk j Stw Vnrk II?r?M Bureau. ) Albany. Mnrrh JS. f The Legislature starts the Anal week of Its 1922 session to-morrow with hun dreds of bills on the calendars of both hoimes; with Gov. Miller's program still uncompleted, and the members of the Senate and Assembly grabbing and grappling for their pet local Mils needed by the organization boys back home. Nominal leaders of the Senate and Assembly arc slttlmr In conference to night behind closed doors deciding what hills are to be marked for passage. But as the session nears Its end. Gov. .Miller Is still the undisputed leader of his party, The session has strengthened rather than weakened his grip on the party and the majorities In the two houses will go through the motions during the next few days of passing or killing important measures. But It Is well understood the Governor gets what he wants. Hundreds of bills will go Into the discard. The pork barrel measures will die by the score. The Important meas ures on the Governor's program yet to bo enacted are the water Kbwer. child welfare, maternity and central State purchasing board bills. The reform lobby met with disaster In the legislature this year. Nearly every bill the reformers brought to Al bany has been lost. The Anti-Saloon League's triplets were doomed when many of the dry legislators themselves turned against them. The Lord's Day Alliance bill to license poolrooms. Canon Chase's bill abolishing Jazz. and nu merous other measures never were seriously considered The anti-jazz bill, which specified how many steps to the minute dancer.'! could take and how far apart they should stand, and tabooed cheek to cheek dancing, was pigeonholed the minute It was Introduced. All home rule and soldier bonus meas ures have been abandoned About the only Important measure for the soidters which will pass Is that appropriating $1,000,000 for disabled veterans, and the only home rule action likely to be taken Is the creation of a commission to study the question. Gov. Miller has approved both proposals. The Governor's maternity bill was Introduced In place of a measure au thorizing the State to participate In the Sheppard-Towne- maternity and Infancy act of the Federal Government. It appropriates 1100.000. The State would have had to appropriate only $75,000 under the Federal act. but Gov. Miller objected to national Interference In what he believed to be purely a State function. If the Legislature takes any action at all on a soldier bonus It will be ' th? adoption of a constitutional amend ment making It possible for' the Btate to issue bonds for this purpose. The American L?egion opposed a constitu tional amendment on the ground that it would tako four or five years before the money would be available. They insisted on an immediate" appropriation I of *30,000,000, but Gov. Miller and the ; legislative leaders did not want to take the responsibility of spending so much money of the State. M'ADOO PLANS TO BARE ALL COTTON DEALING 1 Bucket Charges Must Be Dis proved or Sustained. Tho John Doe inquiry into the cotton I brokerage business In this city will be I resumed this afternoon before ChU'f ! Magistrate MeAfloo in the Crmina! ' Courts Building, and daily sessions will be held thereafter until the bucketing i charges made against certain cotton traders are sustained or refuted. Judge McAdoo announced at the first ! hearing last Tuesday that the investiga ! t:on would not be confined to specific ! complaints, but would embrace every phase of the business In New York, wh oh Is the greatest cotton market in ! the United Stahes. He has asked Dis j trict Attorney Banton to prepare for i prosecutions on these lines The American Cotton Exchange, which deals In "odd lots," asked a public hear | Ing rather than a Grand Jury probe. | The proceedings are directed against j John Doe. Richard Roe, John Doe Com pany, John Doe Exchange. John Doe | Clearing House and others so that not : only the American Exchange, but the larger New York Cotton Exchange will ' be scrutinised. Members of the govern I ing committees of both exchanges, cotton exparta. brokers, commission men, grow I ers and manufacturers will be examined to determine whether the law has been violated. Another case growing out of the recent campaign against buck*.. shops and stock frauds?that of Julius H. Schwarts, Max ' Goldstein and others?Is up for trial to day In the United States District Court! EMPLOYMENT IN STATE SHOWS 3 PER CENT. GAIN Clothing Industry Reports the Largest Increase. _____? Alban'T, March 12.?Increases tn em ployment In virtually all of the Indus- j tries In New York State <jre reported I In an analysis of employers' reports Issued to-night by Henry D. Sayer. j State Industrial Commissioner. A 3 per cent, increase in factory employment, the second largest gain since "the bo glnnlng of the depression," Is featured In the report "Improved business conditions and seasonal demands were the chief fac tors causing the gain In employment." said the report. "The reopening of fac tories after the semi-annual inventory and repairs also was responsible for greater employment. The reductions reported were due to seasonal lull." The clothing Industries reported the largest increase of any of the chief industry groups. ROLLS-ROYCE ANNOUNCES NEW PRICES GVARANTEED An Open Phaeton - $10,goo 785 FIFTH AVENUE B'WAY at 57th St., FISK B'LDO R1TZ-CARLTON - ATLANTIC CITY The United Electric Light & Power Co. GvmulQffisu: 130 Em! 13th St. Brtnch Ofieu: 89th St. <i B'trty. 146th St. k B'w*j>. The United Electric Shops Large and beautiful displays of elec trical home comforts and necessities ?some perhaps that mil afford suggestions for the little things, the useful things, which will tend to make your home more homelike and your housework less tiresome, are to be found at each of our three branch offices. A visit, we are sure, will prove pi urable. You are always very welcome whether you come to buy or merely to look around and ask questions. y Oat P?t* Htlt CtU Sutlm. ma In tperufim, "For men may come and men may go, But I go on forever*" ?and the worJt of your Trust Company goes on?p*'rP*tually? COLUMBIA TRUST COMPANY ' ?' No MATTER WHEN the time may come, the Columbia Trust Company, as Executor of your estate# will be here to act for you ?to distribute the fruits of your business life?your money, as you wish, to whom you wish, and in the amounts you wash, exactly as you write it in your Will. Member of Federal Rescri* System t>?r ??' ut* <???>? 7V?m 0k.