The New York herald. [volume], March 13, 1922, Page 7, Image 7

About The New York herald. [volume] (New York, N.Y.) 1920-1924

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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.