Arizona republican. [volume], November 25, 1920, Page PAGE EIGHT, Image 8

About Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930

Image provided by: Arizona State Library, Archives and Public Records; Phoenix, AZ

                
PAGE EIGHT
THE ARIZONA REPUBLICAN THURSDAY MORNING, NOVEMBER 25, 1920
gas. go; pleads
-bankruptcy if
GREASE DENIED
General Manager Says Only
Raise in Rate Can SavA
Concern From Going Out
ui lousiness imcago Jbx
: pert Takes Stand.
That tho 'working capital which the
I'aclfio Gas and Electric company fixed
at $94,000 for sras operatloa la $34,000
too high.
That the present depreciation rate
of 4 per cent was. more liberal when
fixed than Justified and that tho t per
tent, which la being asked for, i too
high.
That the allowable rate of return,
which the company requested be
placed at a 12 per cent minimum,
at least 2 per cent too hirh.
These were some of the statements
made by W. J. Huddle, rate exnert of
Chicago, In his testimony before the
orporation commission yesterday at
the hearing for the Pacific Gas and
Klectric company for an Increase in its
rates.
The direct testmony of Mr. Huddle
and his cross-examination was fol
lowed by an argument by II. L. Aller
of the gas company, who In conclusion
stated that unless the Increase was
granted he could see no other course
lor the company than to face bank
ruptcy In the federal court or to ap
tly to the corporation commission for
permission to discontinue Its opera
tions. He stated that the company
owed $12.",000 to the banks In aiditon
to $123,000 In current bills that could
not he paid.
It Is understood that the matter will
rot be determined until at least the
latter part of December. J. E. NoNon,
assistant city attorney, asked until De
cember 20 In which to file a brief, and
time will be given to the company
should it care to answer.
Mr. Huddle will leave today for Chi-
HEED THE VOICE OF
T
I
EHLL
touch with him concerning the case.
Only the representatives of the com
pany, the city ana state were present
at the hearing, although previous to
the hearing the public appeared to be
Intensely Interested In the matter. Mr.
Johnson, member of the commission.
who sat in the hearing with Amos A.
Betts, chairman, commented upon this
at tho conclusion of the case yester
day.
'I am sorry the public showed so lit
tle Interest in the matter. It was pur-
piising that the hearing attracted sol Tt a blind soldier speak to you
little attention In view of the fact that "Close your eyes for a moment
the people will be affected by the Then imagine that, for you, the rest
commission's ruling either In the Vour life was to be one perpetual
matter of increase In bills, or If the njCht: no .flowers, no colors, nc
application is denied and the company I friendly faces just sounds and smelH
takes the steps it threatens, in tne ais- and feelinir things witn your lingers.
continuance of gas m the city."
KIWI
K5 II
The case, which was continued from
Monday, was called with Mri Huddle
on the stand. Mr. Huddle qualified as
n expert, having served as puDnc
utility commissioner of "Wisconsin and
Huddle & Co. having served in many
states as gas experts. Ho declared
that In his opinion the advance of from
4 to 6 per cent In depreciation reserve
was not Justified In view of the fact
that when the 4 per cent was allowed It
was far too liberal.
On the amount of gas sold tip to
Sept. SO, 1920, he considered ?0 per
cent a- liberal allowance on the output,!
which would place the working capita
nt $60,000. The company declared that
for Its gas operations It required a
working capital of $94,000, Mr. Aller
asking of the witness If it were not
necessary to have sufficient working
capital for stores and supplies; if
txea that had to be prepaid were not
an element of cost to be considered;
it a $400,000 gas business did not have
to have a bank balance of approxi-
Thnt's blindness,
"But are we 'blindies' downhearted?
No, not bo long as the Red Cross
sticks around and Bees a fellow
through."
Your Red Cross does just that
"sticks around and sees a fellow
through."
Not only Is your Red Cross helping
all of those men who were blinded or
half blinded In the war and training
them for happy, self-supporting oc
cupations; It Is helping to bring back
to health more than 26,000 men who
are still in hospitals as a result of the
war. Your Red Cross membership
makes possible work like this.
Join the Red Cross or renew your
membershio before Saturday, Novem
ber 27, during the Red Cross annual
roll call.
The quota of the Central Arizona
chapter has been set at 9,000, but It
should more than exceed this number.
The school children who are assisting
are enthusiastic and eager to enroll
members; the members of the civics
the other counties of the state and ex
pects to finish the audit In this county
before Christmas. The volume of
work In this county, he said. Is far
larger than any other county of the
state.
Mr. Morrison will audit the books
in the offices of the clerk of the su
perior court, the board of supervisors,
the county recorder, the assessor, the
county treasurer, the. county school
superintendent, and each of the Justice
court offices in the county. The re
port of the audit will be made to the
state auditor's office upon completion
of the worK.
o
TO REPRESENT CITY
AT MEXICAN CAPITAL
Frank Thomas, city clerk, and Fred
. Adams, city commissioner, will leave
today to represent Phoenix at the in
auguration ceremonies for Alvaro
Obregon at Mexico City December 1.
Messrs. Thomas and Adams are ac
credited representatives of the city of
Phoenix at the inauguration and will
extend best wishes to the new Mexican
president on behalf of Phoenix resi
dents.
They will make the trip to Mexico
City on the "inaugural special," which
leaves Aogaies tonight, returning to
Nogales December 9. Visits to sev
eral Mexican cities will be made on
the return trip.
. o
. cago, but the commission will keep In place of gas, mainly kerosene.
mately $35,000; if gas construction did I department of the Osborn Woman's
not have to be a consideration; if fuel club are getting ready for the most
stock did not have to be Included as an I thorough campaign ever held In that
Item; and pay roll was put forth as an- I district. All loyal people everywhere
other element of cost . are Interested in this splendid work
Mr. Huddle stated that all were le-1 and are ready to help all they can to
ments of consideration but not neces- maice the campaign a success.
sarlly included under the'working cap- Renewed efforts are to be made to
ital. He said it did not make any dlf- thoroughly cover the downtown dls-
fprence to the consumer of gas where trict during the remaining days of the
thev wer Included. I annual Red Cross roll call. For this
In takin un the matter of allowable purpose the Business and Professional
return Mr. Huddle was opposed to the I Women's club has volunteered to as-
minimum rate of 12 per cent, which he sist. Its members will solicit mm
rtorinred too hleh. The nresent rate Is berships In the business district.
from 8 to 10 .per cent. He testified Mrs. C. S. eKith, president of the
that nn allowable rate of return should Madison Improvement club, will have
not be so high that it would retard the charge In the Madison district for the
sale of the product and stated tnat row can campaign wmie wn. T. x
other comoetln fuels would be used In I Powers will have charge in the
"R3AKE IT BETTER-
shop
EARLIER
XMAS
SHOP!
EARLY
XMAS
Displayed thruout the Eagle factory is this sign
MAKE IT BETTER an ever-present reminder
to the workers that standards were made to be sur
passed. A great slogan to insure fine, strong
stitching, careful matching, exceptional laundering.
Such workmanship helps to make every Eagle Shirt
the ultimate in value at the price.
. , . i i in r1 '
You1 11 do better at
Stein -liLOCM-CjUrrim
Household.
Necessitie:
what we once considered luxuries for the
home are now its necessities. Several years
ago you were satisfied to bake your bread
in black steel pans and use steel skillets
and kettles for other cooking.
PYREX WARE v
has replaced steel bake pans for baking
bread, pie, cakes, etc.. and modern sanitary
and efficient
ALUMINUM WARE
has taken the place of iron pots, skillets,
stew kettles, etc.
- See our window display of Modern
Kitchen Necessities. We have a good line
of both Pyrex and Aluminum and it would
be a pleasure to show you these goods.
L
1
EZRA W. THAYE
Wood, Coal and Oil Heaters
124-130 E. Washington St.
Creighton district, Mrs. Morton Kin-
sey and Mrs. Loom is will have charge
in the Scottsdale district-
There should be no need to ursre
people to come forward at a time like
this and put their naornes to a list
where It will do so much real service
Every organization in the city should
show a 100 percent enrollment before
the end of this week. The Red Cross
needs you. Do not fail it. One dol
lar will make you a member. Do it
today.
BEGINS AUDITING
BOOKS OF COM
IL O. Morrison, state examiner, be
gan work last Monday on auditing the
books of the various departments of
Maricopa county. Mr. Morrison has
completed the audits of the books of
E
HELPED IN EXHIBIT
Mrs. Henry , Scott and Mrs. Vernon
Clark were hostesses Wednesday to
those who helped to make the Amer
icanization exhibit at the state fair a
success. The scene of the delightful
affair was the attractive Scott home on
North Central avenue. Long tables
were set in the big cheery attic for the
Thanksgiving spread and a wealth of
greenery and autumn flowers decorated
this unique banquet room, already at
tractive with its rugs and pillows and
window seats. .
Those present, besides the charming
hostesses, were: Mrs. Charles Korrick,
Mrs. Wallace Button, Mrs. W. D. Ham-
mett, Mrs. Abe Korrick, Mrs. Imogen
LaChance, Mrs. C. I Braxtan, Mrs.
E. M. Duclow, Mrs. Greig Scott, the
Rev. and Mrs. G. D. Yoakum, Mr.
Charles Donofrlo, Miss Arion, Mrs.
E. D. Ellis, Mrs. Osenburg, Mrs. F. B.
Stevens, Mrs. C. W. Botsford, Mrs. Har-
land Gray, Mrs. W. L. Pinney, Miss
Case, Mrs. D. F. Johnson, Mrs. Pauline I
O'Neill, Mr. Eugene RedewilL Mrs.
Harold Baxter, Mrs. Vickers, Mrs. Mc
Lean, Mrs. Ralph Cameron, Mr. and
Mrs. Wells, Mrs. Orin Standage, Miss !
Darcy, Mrs. Warren. Mrs. Ben Teager
and Miss Richards of Glendale,
-o
GLORIOUS LIBERTY
(Florida Times-Union)
"Do you think men ought to be pro
hibited from standing on the corner
and giving the short skirts the once
over?"
"Certainly not T don't believe in
anything that Interferes with the free-
'dom of the sees.
Report of Condition of
THE COMMERCIAL NATIONAL BANK
At Phoenix, In the Statei of Arizona, at the Close of Business November 15, 1920
Resources .
L a Loans and discounts, including rediscounts (except
those shown in b and c) ............. $995,176.33
$582,026.81
, 2,231.10
Total loans J995.176.33
Deduct:
d Notea and bills rediscounted with Fed
eral Reserve Bank (other than bank
acceptances sold) (see Item 54a).... $407,649.57
e Notes and bills rediscounted other
than with Federal Reserve Bank
(other than bank acceptances sold)
(see Item 54b) 5.500.00 $413,149.57
t. Overdrafts, secured. None; unsecured, $2,231.10.... 4.
4. U. S. Government securities owned: '
a Deposited to secure circulation (TJ. S. bonds par
value) $50,000.00
d Pledged as collateral for State or other deposits
or bills payable $36,200.00
f Owned and unpledged 2;300.00
Total U. S. Government securities
7. Stock of Federal Reserve Bank (50 per cent of subscription)..... 4,950.00
9. Furniture and fixtures 1 16,444.92
IL Lawful reserve with Federal Reserve Bank 33,180.21
12. Items with Federal Reserve Bank in process of collection (not
available as reserve) ..... 8,909.63
13. Cash in vault and net amounts due from national banks 38,017.39
14- ret amounts due from banks, bankers, and trust companies in
the United States (other than Included in Items 11. 12 or 13)
15. Exchanges for clearing house
Total of Items 12, 13, 14, 15, and 16 $73,711.77
18. Redemption fund with U. S. Treasurer and due from U. S.
Treasurer .
19. Interest earned but not collected approximate on Notes and
Bills Receivable not past due . 9 416.48
-i. utner assets, 11 any x 18.093.22
88,500:00
16,368.56
10,416.19
2,500.00 I
Total ...
Liabilities
$831,054.51
2L Capital stock paid in ...$150,000.00
22. Surplus fund 15,000.00
23. a Undivided Profits $46,814.07
b Less current expenses, interest, and taxes paid 54,584.97
24. Interest and discount collected or credited in advance of maturity
and not earned (approximate) y 8,122.29
25. Amount reserved for taxes accrued ...... 1,782.00
27. Circulating notes outstanding 48,900.00
29. Net amounts duo to national banks 5,346.79
30. Net amounts due to banks, bankers, and trust companies In the
United States and foreign countries (other than included In
Items 28 or 29) 25,873.41
31. Certified checks outstanding 600.00
32. Cashier's checks on own bank outstanding 11,161.23
Total of Items 28, 29, 30. 31, and 33 $42,881.43
Demand deposits (other than bank deposits) subject to reserve
(deposits payable within 30 days): t
33. Individual deposits subject to check .....j, 336,017.39
34. Certificates , of deposit due in less than 30 days (other than for
money borrowed) ; 33,674.87
State, county, or other municipal deposits secured by pledge of
assets of this bank 6,000.00
utner aemana aeposits 68 504.16
Total of demand deposits (other than bank de
posits) subject to Reserve, Items 33, 34, 35, 36
37, and 38 $443,196.92
Time deposits subject to Reserve (payable after 30 days, or sub
ject to 30 days or more notice, and postal savings) :
39. Certificates of deposit (other than for money borrowed)., 20,000.00
Total of time deposits subject to Reserve,
Items 39, 40, 41, and 42 $20,000.00
47. Bills payable, other than with Federal Reserve Bank (including
all obligations representing money borrowed other than redis
counts) 100,000.00
53. Liabilities other than those above stated 1,171.87
35.
38.
Total "..$831,054.51
54. a Liabilities for rediscounts with Federal Reserve Bank (see
Item Id) ; $407,649.57
b Liabilities for rediscounts other than with Federal Reserve
Bank (see Item lc) 6,500.00
Total contingent liabilities (54a, b, c, and d) (not includ- ,
ing Items h Schedule 23) $413,149.57
State of Arizona, County of Maricopa, ss:
I, IL B. Cassldy, Cashier of the above-named bank, do solemnly swear that
the above statement is true to the best of my knowledge and belief.
H. B. CASSIDV. Cashier.
Subscribed and sworn to before me Correct Attest:
this 24th day of November, 1920. CHAS. KORRICK,
F. O. ROESER. W. A. LYTLE,
I (Seal) Notary Public. W. D. NIXON.
a My commission expires May 19, 1924. Directors.
THE UNIVERSAL CAT!
.Real Ec
.1
oeomy
in Motonii
Nobody has questioned the real vital need for the automobile in every-day
life. In Arizona we can't get-along without the motor car.
However, "these are days when economy is the watchword. This is not a
time for reckless expenditure. , Necessities should be bought with a view to'
minimum investment small depreciation and low cost of operation and upkeep.
In the automobile field, the Ford can best" fulfill these' needs. More ex
pensive cars and larger cars have their place, but the prime object of the auto
mobile is to get over the ground quickly, easily, comfortably and economically.
No other automobile, so well meets these important requirements as the Ford.
At a time when economy is going hand in, hand with efficiency, buy the
car that has made its reputation for both economy and efficiency.
The Ford Sedan is the favorite family car. It is cooler in summer
and warmer in winter, which makes it the ideal all-year car.
j . .
Sedan $940 f. o. b. Phoenix, with Electric starter and Demountable rims.
An ideal all weather car is the Ford Coupe. More
comfortable in bpth hot and cold weather.
" ' ,
Coupe $888 f . o. b. Phoenix with Electric Starter and Demountable rims.
The Ford Touring is an ideal family open car
It is the most popular touring car in the world.
Touring car $643.25 f. o. b. Phoenix with Electric Starter
Runabout $596.40 f. o. b. Phoenix
with Electric Starter
Ford Ton truck $670.50 f. o. b.
Phoenix with Heavy Duty worm
gear drive. Pneumatic equipped
120,810 Ford Cars Produced in the Month of October
ED
O H TO AT
11
Grand Ave, Glendale
316-48 East Adams St., Phoenix
v
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4