Newspaper Page Text
JUNE 21, 1922.
HARDING IN LETTER URGES SUBSIDY LAW president Virtually Asking Popular Support. CAMPAIGN SOUND Document Indicates Purpose to Avoid Dictating. Special to Indiana. Dally Times and Philadelphia Public Ledger. WASHINGTON. June 21.—President Harding has virtually appealed to the people to let their Congressmen know the sentiment of America is whole-hearted In favor of the maintenance of the Amer ican merchant marine. The presidential word went forth In a letter to Representative Mondell, Repub lican House leader, In which Mr. Hard ing gave his full approval of the House proposal to postpone consideration of (ship subsidy legislation until Congress men could lay the question before their constituencies. House leaders had urged upon the President a delay on the sub sidy bill of at least a month, so that members, availing themselves of the sum mer recess, might sound out folks back home. BELIEVES PEOPEE WILL BE IN ACCORD. ‘•f cannot but belieTe the American people will be in accord," wrote the Pres ident, “If they appraise the Immediate Mft liters through our .'resent operations ■and sense the situation as it relates to r America's future. 1 believe Congressmen will return from the contact with the people confident that the merchant ma rine bill Is no less appealing than relief to agriculture in distress or to the rail roads in their necessity." Throughout the letter the President made It plain that the Administration, al though not seeking to urge the merits of the pending bill or dictating to Congress a course of action, requires speedy and definite decision on the question of Amer ican shipping. Existing conditions can not continue, the President asserted, and if America is to remain self-contained she cannot afford to permit her fleet, badly balanced and war-built as it is, to fall into disuse. MANNER NOT INURE CAMPAIGN DOCUMENT. “There was an expression of the popu lar mind in 1920,” continued the letter, in a manner not nniike that of a cam paign document.” the party now charged with responsibility spoke in no uncer tain terms about the promotion and main tenance of an American merchant m.arine. “The question was not made paramount, but the pledge was covenanted, and it was well understood, because the people knew in a general way that vast tonnage In shipping was a Government possession as the result of war activities, and a prac tical Government must turn this one war ■asset to permanent, peace-time advant age.” ■ Until house leaders had made it plain ■that they feared to proceed with ship ■subsidy legislation without consulting Ffheir constituencies, the President had demanded immediate considera- Bn of suosidy bill. His acquiescence in proposed brief delay, -however, does not budge him from his insistent stand that ship relief legislation should be con sidered at the present session. The President's reason for this is two fold: First, the Government is losing $50.- OO'.OOO annually on present operation and the situation is becoming intolerable. If American shipping is to survive it must be put on anew basis and that in the immediate future. Second, it 'will be impossible to pass general legislation of the type and im portance of a ship subsidy bill at the short session beginning in December. That session, at which nothing is done until after the holidays, gives Congress hardly more than two months to enact the necessary money bills. REMOVES THREAT OF EXTRA SESSION. The letter to Representative Monde.l, which the President said was to give formal confirmation and to express the satisfaction with which he contemplated having this measure'taken directly to 'b? people, will remove, at least for the time being, any threat of an extra session of Congress for consideration of the bill. Il House members within a month or six weeks, p-roceed with the legislation, the President apparently will be satisfied. Much as be desires the passage of the bill, he insists only upon its consideration with action one way or the other, con fident the word the congressmen will get from “back home," wiU cause them to enact the legislation. In summarizing the situation, the President explained the futility of the "old and worn-ont cry" against subsidy, f The people should know, he said, the j Government now was subsidizing the L merchant marine by $50,000,000 a year in the deficit in operations piled f2 by the Shipping Board. How to handle ships of the American fleet without • continual loss to the public treasury is I manifestly an important problem for disposition by Congress. Another, is the establishment of an ef ficient marine as an agency of commerce and an avenue of influence in peace, and on indispensable element of defense when the Nation is involved in war. "No argument is needed on the last essential other than the reminder that we tuilded our vast tonnage as a war necessity," said the President. The importance of a merchant marine to America's pretensions of being a seif contained Republic, was emphasized by the President. •'No nation,” he said, “has ever raain tjnned enduring prominence, or abiding ijood fortune, except in proportion to its "Vseinence on the sea. It does not become us world, wiieii our righteous purposes in ’ trade are better promoted by serving our- i selves In making our tenders in the j piarts of the world.” SNARES TURTLE MARKED IN 1908 Man’s Name Still Visible— Grew Inch in 14 Years. LONDON, Ontario, Canada, June 21. j That turtles grow less than an inch in i fourteen years, has been demonstrated by J. M. Hellems of Brant County, who | in 1908 scratched his name on the shell j of a young snapper, slightly over nine i inches in length, and liberated it again iu i a drainage canal in P.urford Township. | Donld Robb.a Burford high boy, bunting for zoological rna rerial, found the turtle again, the name of Mr Hellems plainly diseernable on its shell, and found it Is now Just ten inches In length. The reptile Is an unusnal species to be found in this part of America, properly belonging to the State of Indiana. Only Sn one or two other recorded instances has it been discovered north of the Great Lakes. Possibly were this particular specimen restored to the Hoosier en vironment and happier climatic condi tions of its ancestors, its growth might (*tiU be accelerated, according to the nat uralists, who state that it is not much more thsn fifty years odi, or still in the •pen of life. YOUTHFUL CAPITALISTS FORM PARTN ERSHIP \ -cfei? . M i / FREDERICK BAUMGARTNER. BT NORA KAY. Has the siren song of the summer which goes, “Ice cold lemonade, five cents a glass:” yet been heard In the neighbor hood In which you live? If it has not. the younger generation in your part of town is less enterprising than that in Irvington, for already the youthful, but alert, young business men, by name Young, Baumgartner and O'Connor, havo erected their stand in a shady corner at Washington street and Emerson avenue and are doing a thriving business in dis pensing cold drinks. According to Coiiier Young, of 5009 East Washington, president of the new lemon ade distributing company, the Washing ton street and Emerson avenue crossing was selected as a logical business location because of the fact there are no drug stores around to lure away their trade. Then, too, young Mr. Y’onng explained, Emerson avenue carries all of the north and south traffic that goes across Wash ington street from Sherman drive on the west to Ritter avenue on the east, which means that there’s a prospective customer in sight at almost any minute of .tie day —and the three young members of the firm always manage to have some cue cn hand to see that no prospect goes by without hearing a persuasive sales talk that seldom fails to sell at least a 5-ceut glass. Mr. Young, being 13 years of age and the most experienced man in the firm, hving been in the business last sum- $27,645,000 (Total Issue) New York Central Lines Equipment Ernst of 1922 Five Per Cent Equipment Trust Gold Certificates GUARANTEE TRUST COMPANY OF NEW YORK, TRUSTEE. (Philadelphia Plan) To be Issued by the Trustee under an Equipment Trust Agreement, dated June 1, 1022. Payable to Bearer with Optional Registration as to Principal. Denominations SI,OOO and SSOO Dated June 1, 1922, Serial Maturities of $1,843,000 Per Annum. June 1, li>23, to June 1, 1937, both Inclusive. Warrants for the Semi-Annual Dividends at the Rate of 5% Per Annum Mature June 1 and December 1 Certificates and Dividend Warrants Payable at tho Office of the Trustee. Issue Subject to Authorization by the Interstate Commerce Commission The certificates are for 75 per cent of the cost of standard new equipment , the remainder of the rest to be paid by the rath raad companies. We are advised by A. H. Smith , Esq., president of the New York Central Railroad Company, that the equipment rtU cost approximately $36,860,000 and will consist of approximately 18,500 freight train cars and 75 locomotives. The title to the equipment is to be vested in the trustee and the equipment is to be leased by the trustee to the following railroad companies, which are jointly and severally to covenant to pay rentals sufficient to pay the certificates and dividend war rants as they mature: The New York Central Railroad Compant The Michigan Central Railroad Company. The Cleveland , Cincinnati , Chicago and St. Louis Railway Company. The Pittsburgh and Lake Erie Railroad Company. The Pittsburgh, McKeesport and Youghiogheny Railroad Company. The Cincinnati Northern Railroad Company. TEE ABOVE CERTIFICATES ARE OFFERED FOR SUBSCRIPTION , SUBJECT TO ISSUE AS PLANNED AND TO APPROVAL OF COUNSEL, AT THE FOLLOWING PRICES, PLUS ACCRUED DIVIDEND: $1,843,000 due June 1, 1023, at 100% $1,843,000 due June 1, 1924, at 99.62% to yield 5.20% v $1,843,000 due June 1, 1925, at 99.45% to yield 0.20% The following maturities to yield 5.30%.* ft 843,000 Due June 1, 1926, at 98.93% $1,843,000 Due June 1, 1932, at 97.69% sl,Bs 1 3.000 Due June 1, 1927, at 98.70% $1,843,000 Due June 1, 1933, at 97.52% $1,843’., 000 Due June 1, 1928, at 98.48% $1,843,000 Due June 1, 1934, at 97.30% $1.843,000 Due June 1, 1929, at 98.26% $1,843,000 Due June 1, 1935, at 97.21% $1,843.GcK) Due June 1, 1930, at 98.06% $1,843,000 Due June 1, 1936, at 97.06% $1,843,000 Due June 1, 1931, at 97,87%. $1,843,000 Due June 1, 1937, at 96.92% Subscription hook# will be opened at the office of J. P. Morgan & Cos., at 10 o'clock A. M., Wednesday, June 21, 1922. The right is reserved to reject a y and all applications, and also, in any case, to award a smaller amount than applied for. The amount due on allotments tciU be pitiable at the office of J. P. Morgan k Cos., in New York funds, the date of payment to be specified in the notices of allotment, against delivery of temporary certificates or trusty receipts, exchangeable for definite certificates when prepared. J. P. MORGAN & CO. FIRST NATIONAL RANK, New York NATIONAL CITY COMPANY, New York GUARANTY COMPANY OF NEW YORK HARRIS TRUST & SAVINGS BANK i NORBERT O'CONNER. mer, gave out most of the Information re garding the establishment of the busi ness, its personnel, the profits that have been made thus far this season, which opened the first of last week and the plans which the members have for using the proceeds of the enterprise at the end ■of the season. According to Mr. Young, the firm started with a capital of sl, contributed by the three stockholders, the other two beiug Norbert O'Connor, 13, of 115 Ban croft avenue and Frederick Baumgartner, 12, of 27 South Emerson avenue. Mr. O’Connor is anew member of the firm, having been taken in only this season, while I'oung and Baumgertner have been in partnership in previous business ven tures, but the belief of the majority of the customers seems to he that Mr. O'Connor’s winning personality and cap tivating freckles will overcome any handicap of inexperience. And while Mr. Baumgartner is the youngest member of the company, he is by no means the least important, for he practically controls the comifaeturlng end of the business, haring a sympathetic mother who mixes up the lemonade in the best home-made style, out of real lemons, sure-enough sugar and the best grade of Indianapolis water, according to the ac cepted formula for the favorite drink. “And it sells for only 5 cents a glass?” asked a thirsty patron at the stand. “That depends on the size glass yon want," explained the salesman. “The INDIANA DAILY TIMES COLLIER YOUNG. regular size glasses are a nickel and the big ones are a dime, but they hold more than twice as much as the little ones and most everybody wants another one if rhey only get a small one, so tho big ones arc cheaper in the- end,” “You win,” said the customer. “Make It a big one.” "How much profit do you make on this, anyhow?” inquired the persuaded one, hoping to pick up a few* business pointers from one apparently well fitted to give them. "Well, it wouldn’t be good business to tell how much we make on each glass,” he explained,” but last week we cleared SB, which was s2.fid each, with 2 cents left over. At that rate we'll make S3O each in twelve weeks and.” “Buy a bicycle or an airplane or a radio?” the patron. "Not on your life,” responded all three, almost in chorus, “We’ro goin’ to put cur money in the bank and save it." Which, they say, was the way John D. Rockfeller and most of the other millionaires got their start to plutocracy. LAWRENCE VVITISE YBEKGER DIES. VINCENNES, Ind„ June 21.-Lawrence J. Welsenberger, for thirty years presi dent of the Vlnc nn’s Warer Company, Is dead pt the b .me of bis daughter, Mrs. George Dowuey, here. He had'been ill two weeks. EGYPT IS FREE OF CRIME WAVE, SAYS RUSSELL President of School in Egypt Tells of Conditions Pre-\ vailing There. CAMBRIDGE, Ohio, June 21.—The crime wave has not hit Egypt to the ex tent that it has swept over America, ac cording to President Charles P. Russell, of Assuit College, Assult, Egypt, who visited this municipality recently. While many travelers are held up be tween villages, it is rarely that any one is ordered to p'ut up his hands and forced to pass over his valuables in the Egyptian cities, declared Russell, wakeh In fact, he said, it was an every-day oc currence in Egypt to see persons carry ing hundreds of dollars in currency in their hands about the streets. On a tramcar, he stated, he saw a man nsk another to count money for him. The German post-war business drive is invading Assuit, Russell stated. Pre viously that city never was considered able to afford a piano store. Today a German firm is selling pianos there. In Cairo a barker, or street faker, edn get a crowd Instantly by crying out: “See something new that's Just from Ger many.” Prices are much lower on German goods than on those from England. This, said Russell, is helping make them more popu lar among Mohammedan races. Russell said ordinary camera films of German make could be obtained eight cents cheaper in Europe than is asked for an American-made film. Much dissatisfaction In Syria is found with the French protectorate, Russell de clared. Desiring American supervision, but unable to get it, the Syrians spurned British* help and took French, he said. It seems the Frenchmen selected for the work have met with difficulties, for to day, looking across the boundary at the improvements the British are making in Palestine, Syrians, it is claimed, are Jealous and want British suzerainty. Parliament Members Smashing Traditions LONDON, June 21.—Members of Par liament aren’t following In the gour mandizing footsteps of their predeces sors, according to George Willsher, man ager of the Parliamentary restaurant. In the old days ipembers of Parlia ment were connoisseurs on food and wine, Willsher says, but the modern legislator doesn't seem to care what or when he eats. It W?R BLOCK C? Hart Schaffner & Marx Guaranteed Clothes for Men, Young Men and Boys (8 to 18). Pumps - Sandals - Oxfords For Women and Misses Over 85 Distinctive Models for An Enormous Assortment of Sizes Dressy Street and $ Jg| Such a variety of styles at one single /AyW y price has never before been offered to % " our knowledge. And such values as these |?-a far surpass our best efforts at bargain yaffil giving. ! 5^3 Dainty new summertime creations, *3^. all excellent qualities. Women's Comfort Slippers—Special Made of black kid, neat one-strap style, turned soles; spe- (b-j an dally priced j THE BASEMENT STORE A Wonderful Choice is Offered in Womens Delightful Silk Dresses tUp to $25.00 Qualities In the Favorite Fabrics w | | | Cascade Silk Chantilly Lace Roshanara Crepe Canton Crepe Satin-Back Crepe Crepe Knit H B ■ Georgette Crepe Seaspray Silk gs. Crepe do Chine Ocean Wave Silk My, but these are wonderful dresses to be offered at SIO.OO. You oouldn’t buy such excellent materials and make them for so little at home, not considering tho clever styles In which they’re fashioned. Scores of Attractive New Models in Lupine Beige Cinder Black Mohawk Mandarin Navy Emerald Mint Green Lilac Rose Pink Nasturtium Jade Bmoke Gray Dent de Lion Styles that will appeal to the miss or mature woman. * Sizes 14 to 44. For sports wear, for street, for office, afternoon or evening affairs. Drapy effects, slashed or angel sleeves, round bateau and V neck, beaded, embroidered, fringed and tasseled. 100 Silk Dresses ) p* QC For Small Women and Misses f t / A broken lot of dresses taken from our higher priced \ lines that sold up to $15.00. / Crepe knit, taffeta and satin dresses, In i _ ® navy, black, cinder, sand and combinations. A f£fj If you wear a small size. It would prove profitable to 1 see these lovely dresses. Sizes 15 to 20, 36 to 40. / § All-Wool SUITS SALE *ll -iFi For Men and PRICE 1 —— Young Men Two Pairs Trousers Included at $18.95. Coat, vest and two pairs long trousers, all for $18.95. Remember, every suit is all wool. Regulars and stouts. Plenty of sports models and tweeds. $5.00 and $6.00 Men’s Trousers SALE Q <C> Ar ' Extra Pair With PRICE i6sk:d • Your Coat and Vest Good, serviceable, all-wool fabrics, including all-wool blue serges, excellently tailored to stand hard wear. Patterns to match suits, as well as good, durable, all-wool work trousers. Sale price, $3.98. Domestics, Pillows, Etc. MOSQUITO NET —Beet quality white and *1 in Colors ... .8-yard bolpi IU PILLOW TUBING —40 in ches wide; soft, firm thread: will wear and launder nice ly; regular 45c qual- 9Q. lty. yard 4<7C PEATIIER PILLOWS— Beautiful art tick ~overings; these well-made pillows are filled with new sanitary feathers; reduced CQ, from $1.00; each v>/C BED PILLOWS —Filled with new sanitary feathers, covered with a good heavy featberproof ticking, in rich dark colors; regular $1.75 quality, on each TABLE OILCLOTH—46 inches wide, best quality, plain white and fancy de signs ; specially oc priced, yard .....DOC Boys’ and Girls’ Skuffer Oxfords and Sandals All new merchandise, every pair per fect; brown leather, exten- Art sion soles; sizes 5 to 2 at ipLUU WHITE CURTAIN SWISS * —Yard wide; assorted de sign in stripes, dots, etc.; extra special, 19c CURTAIN SCRIM—Yard wide; double hemstitched border, white and ivory; JK I *': 10c DRAPERY CRETONNE— Yard wide; light or dark combinations of blue, rose, brown and green; very de sirable for children's suits, home dresses, bun- t ft, galow aprons, yard ....it/C DRESS VOILE S—Fine and sheer; beautiful dark shades in combination col ors of blue, brown, red, lav ender, etc.; 40 inches wide; specially priced, yard OuC Hosiery Specials C H I L D R EX'S MERCERIZED ROLL TOP SOCKS—White with fancy striped ribbed tops; sizes 7 to 9’4; irregulars of 35<* i c quality; special IDC WOMEN'S PURE THREAD SILK HOSE—Fully reinforced 1 high spliced heels ; fashioned legs; senmless foot; snug fitting ankles; black, white, nut brown and brown; irregulars of SI.OO quality; 3 pairs for CO $1.75, pair DjC Men’s Underwear ATHLETIC UNION SUITS—Of cross-bar dimities; sleeveless, knee length; sizes 34 rn to 46; special OdC MEN’S FINE RIB UNION SUlTS—Summer weight; quarter length sleeves; ankle length; lizes 38 to 40; CO,. SI.OO quality DjC 13