Evening Star Newspaper, January 3, 1924, Page 27

*.198 STOCKHOLDERS | SUE FOR $1,000,000 {Investors in Temtor Concern Take Action Agajnst Corn Products Company. CONSPIRACY IS ALLEGED Fictitious $4,500,000 Price on T Plant, Is One Claim. By the Assocated Press. NEW YORK, January 3.—Suit to recover sums totaling nearly $1,000,- 000 on the ground that they had been victims of a conspiracy to defraud Wwas started in the supreme court Yesterday by 198 stockholders of the Temtor Corn and Frult Products Company of Illinols. The sult was brought against Edward T. Bedford, president of the Corn Products Re- fining Company; Kissel, Kinnicutt & Co., Wall street investment bankers; the engineering firm of Gen. George W. Goethals, bullder of the Panama Canal, and various officlals and di- rectors of the Mercantile Trust Com- Pany of St. Louis. The suit resulted from the purchase of stock by the defendants in_ the Temtor Corn ‘and Fruit Products Company, which was formed for the alleged purpose of taking over the Granite City, I, plant pf the Corn Products Company and stock of Best-Clymer Manufacturing Company. Fraud and misrepresentation by all the defendants are alleged. It is charged in the suit that Kissel, Kinnlcutt & Co. and the St. Louis brokerage concern of Pape, Potter & Kauffman entered into a con- spiracy with Bedford, who is alleged to have agreed to accept a fictitious price of $4.500,000 for the plant, with the understanding that he was to re- turn $1,250,000 in the gulse of rent and interest for the use of the plant. The Goethals Enginegring Firm was engaged to make an appraisal of the plant, the plaintiffs state, and it is charged that this report was misused in promoting the sale of stock in the holding company. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY GRAND RAPIDS, January 3.—The semi-annual furniture exposition here 1s being attended with unusually fa- vorable trade conditions. About 550 exhibitors are registered with the secretary of the exposition, a record number, filling every available space in the eight exposition buildings. Sev- eral factories are exhibiting their own plants. - PITTSBURGH, January 3,—The ad- vance in crude ofl prices is taken here to mean that the ol industry is on the mend and activity in new drill- ing operations is expected this spring. St PAUL, January 3.—Installation of series of rotary retorts at Beach, 1., next spring will begin develop- ent of the North Dakota lignite fields by means of a new German dis- tillation and bricquetting process, use of which northwestern financiers have secured from Thyssen & Co. of Dus- eldorf. The retorts wil be built here. PITTSBURGH, January 3. The bi- tuminous coal market continues weak, with run of mine quoted from $1.50 to $1.90 a. ton at the mine; by-products §oiing cosl "at 317 and ghe coal at .25, KANSAS CITY, January 3.—The flour mills of Kansas City produced 5,869,000 - barrels og Flour 1923, about 500,000 more than in 1922. The output represented 71 per cent of plant capacity. CHICAGO, January 3.—Receipts of furs in the last week have been heavy, but the market remains firm. and cold weather is expected to send prices up. Skunk have sold as high as $2.40 for northwestern pelts, with Jowa as low as $2.05 to 85 cents. Opossum is quoted at 82 to 86 and Michigan muskrats are dowr* to $1.53. NEW ORLE. January 3.—Job- bers and manufacturers of shoes say that thelr business has been disap- pointing and is barely holding its own in comparison with last year. ATLANTA, January 8.—Retailers report a heavy demand for cotton tabrics and say their stocks are low. Tmmediate v ter inventory period their buyers will be in the market for spong and summer lines, and orders are, expected to be extremely heavy. EX-DIVIDEND TABLE. nmlllx 8— Detroit River Tunnel TIPS FOR TAXPAYERS . Ne. 4 ‘While the exemptions for mar- ried persons are $2,600 if their net income was $5,000 or less, and $2,000 if the enet income was in excess of $5,000, there Is Inser{ed in the revenue act a qualitying clause in justice to those persons whose net income just exceeded 95,000. The act provides that the reduction shall not increase by more than the amount of net in- come in excess of $5,000 the tax which would be payable had the exemption been $2,500. For ex- ample, Mr. and Mrs, John Doe had a net income for 1923 of $5,010. Without the benefit of the above provision their normal tax would be $120.40 ($5/010 less $2,000 equal- Ing $3,010 at 4 per cent). Their actual tax is $110.40 $5,010 less $2.500 equaling $2,610 at 4 per cent, or $100.40, plus $10, the amount by which the net Income exceeds $5,- 000). This provision has no ap- plication where the combined net Income is $5,020 or more. Exemptions of $2,000 -or $2,500 are allowed married couples only if they live together. In the ab- sence of continuous residence to- gether, the exemption depends upon the character of the separa- tion. The presence of a wife in a sanitarfum or her unavoidable absence because of {1l health does not change the marital status, and the full exemption is allowed the husband. 1f occasionally ‘the husband s away on business or for any necessary reason a tem- porary separation exists, the full exemption is allowed. But, if con- tinually and voluntarily the hus- band makes his residence at one place and the wife at another, they are not living together with- in the eye of the income tax law. WALL STREET NOTES. Cotton Exchange Seat Brings $31,- 000—New Stock Rights. NEW YORK, January 3.—Davison Chemicel Company has announced it will offer rights to subscribe to 109,000 shares of the Silica Gel Co; poration at $25 a share on the basis of one share of Silica Gel for each two of Davison stock. Charles S. Hirsch has purchased the New York Cotton Exchange member- ship of Charles A. Stern for $31,000, an increase of 1,000 over the last previous sale. The American Light and Traction Company has declared a dividend of 1 per cent on the common stock, pay- able in common stock, in addition to the regular quarterly cash dividends of 1'per cent on the common and 1% per cent on the preferred stock. The American Piano Company has offered its subscribers the right to subscribe to 14,544 shares of 7 per cent preferred stock at $96 a share, the proceeds to be used to pay for the Mason and Hamlin' Company. The state stock transfer tax in De- cember totaled $791,393, and for the entire year 1923, $7,756,328. —_— NOTE ISSUE DENIED. ST. LOUIS, January 3.—A request for permission to~issue $4,100,000 in receiver's certificates for the United Raiflways Company, the local street car company, was denled by Federal Judge Faris yesterday, and lawyers explained this may result in fore- closure proceedings and a general re- organization of the company, which is controlled by the North American Company. VIRGINIA FARMERS NEED MORE LABOR Only 78 Per Cent of Demand Now Satisfied—Plowing Ahead " of Last Year. ¥ AROTHER BUILDING RECORD $19,500,000 to Be Spent on Phones S in Illinois. Special Dispateh to The Star. RICHMOND, Va., January. 3.—Vir- ginia farmers are experiencing a severe shortage of labor. Only 78 per cent of the demand {is satisfied. The labor is pald $29 per month and board, an Increa: of $4 over last year, but less than In 1920, when 1 $85.80 was paid. Despite the lack of labor, however, 17 per cent of the farm lands in Virginia are plowed now, a 2 per cent increase over this time last year. Bullding Records Broken. i PHILADELPHIA, January 3 (Spe- clal)—Sums expended on new build- {ing here in 1923 broke all records and totaled $122,650,935. The increase is attributed to the large number of office, school and business bulldings begun last year. W. R. Nicholson, prestdent of the Land Title and Trust Company, predicted, however, that the total in 1924 would be less than that of last year. Heavy Phone Expenditures. CHICAGO, January 3 (Special) Nineteen and a half million dollars | will be expended in telephone exte: sions and improvements in Illinois in 1924. About $18,000,000 was expended last year, when 73,280 phones were instailed. Large Order for Box Cars. ST. LOUIS, January 3 (Special) The Cotton Belt railroad has ordered 1,000 box cars from the American Car and Foundry Company and the Mount Vernon Car Manufacturing Company. The St. Louis and San Francisco will spend $6,000,000 for additions and im- provements this year, doing the loco- motive and car building in its own shops. Expect Good Year fn Steel. PITTSBURGH, January 3 (Special). —Business men here are of the unani- mous opinion that 1924 will see big- ger and better things accomplished than any year since the war, espe- cially In steel, iron, coal and coke. The holiday business was in excess of expectations, and the holiday pay- roll was above $60,000,000, or 25 per cent larger than last year. STOCK DEAL ACCEPTED. NEW YORK, January 3.—Willlam J. Woolman, chalrman of the minority stockholders' committee of the Wis- consin _Central railroad, has tele- graphed the committee's acceptance of the plan whereby the Minneapolls, St. Paul and Sault Ste. Marie raliroad will take over the minority stock of the Wisconsin Central. Minority shareholders of Wisconsin Central will receive 43% for their stock in ex- change for collateral trust sinking fund notes bearing 5% per cent in- Child’s tongue shows if bilious, constipated EIVE “CALIFORNIA FIg SYRUP” Dependable Laxative for Sick Baby or Child — Harmless! Hurry Mother! A teaspoonful of “California Fig Syrup” now will thor- N. Y. Air Brake, q American Tee, Harbison-Walk. Ref., pf.. q. Co., pt., Vulean Detinning Vilcan Detianing Coos Dl Start the New Year Right Have Us Install One of These Latest Improved Gas Ranges oughly clean the little bowels and in a few hours you have a well, playful child again. Even if.cross, feverish, bilious, constipated or full of cold, children love its pleasant taste. AKE the guess-work out of your cooking! The Reliable Angliron Gas Range equipped with the famous Tell your druggist you want only the genuine “California Fig Syrup,” which has directions for babies and children of all ages printed on bottle. Mother, you must say “California.” Refuse any imitation. ' WASHINGTON GAS LIGHT COMPANY SALES DEPARTMENT—419 TENTH STREET N. W. * . - EREN, AVERAGE YEAR AHEAD. — Baldwin Head Says Business Will Be Under 1923, PHILADELPHIA, January 3.—Sam- uel M. Vauclain, president of the Bald- win Locomotive Works, predicted, at the annual banquet of the fire depart- ments of the Bnlfwln plants, that business this y. will be goéd. He sald it would not be equal to the 1923 standard, but would average well ;'eh:.: compared with the last five COPPER FIRMS WITHDRAW Export Association, However, Will Still Function. NEW YORK, January 3.—The with- drawal of several members from the Copper Export Association was an- nounced yesterday by R. L. Aga: president of the Cafumet Hecla Mining Company and also head of the asso- clation. Mr. Agassiz sald the export organization, however, would not be disbanded as had previously been reported. Disagreement as to the method of marketing surplus copper was under- stood (to "have influenced the with drawal of three inter FIGHT ON RAILROAD RATES ON IN CHICAGO L C. C. Told Canal Competition Must Be Met by Cuts of About 20 Per Cent. By the Assoclated Press. CHICAGO, January 3.—Transconti- nental rail carriers face the neces- sity of securing lower rates of cer- tatn westbound commoditles, to equalize competition with the Pan- ama canal boat carriers, or an up- ward revision of eastbound rates from the Pacific coast on virtually all con- signments, H. E. Byram, president of the Chicago, Milwaukee and St. Paul rallroad, sald before the Interstate Commerce Commission examiners here. The testimony was given in support of the application of the Transconti- nental Frelght Bureau for lower westbound rates on shipments to Pa- cific ports. Initial hearings on the application were held today by Ex- aminer Pattison. Edward Chambers, vice president of the Santa Fe system: 'W. H. Finley, residept of the Chicago and North estern; H. G. Toll, traflic expert of the Transcontinental Freight Bureau, d Byrum presented arguments or proposed rates. The schedule sought by the roads is roughly esti- ated to be 20 per cent under present rates on the commodities listed. Opposition to the proposed reduc- tions has been expressed by commer- cial associations.and shippers of the intermountain states, p cartlers and several groups representing inland cities of Califor- nis, to which the new schedule would not be applicable. All have indicated their wish to testify. —_— GAINS OVER $2,000,000. Baltintore Bargain House Has Very Prosperous Year. Special Dispatch to The Star. 5 BALTIMORE, January 3.—The American Wholesale Corporation (Bal- timore Bargain House) did & gross vol- ume of business last year of $32,600 385.02. This compares with $30,02! 337.06 1n 1922. While the 1923 total does not set & record, the increase compared with the previous year, which 8l%o was an ac- tive one, is considered satisfactory in every way. The management believes that 1924 business will be at least as large as it was last year. ntercoastal | of COPPER OUTPUT GAINS. Increase of 55 Per Cent Made Over ) 1932 Pigures. Copper smielter production during 1923, Including an estimate of 132,- 000,000 pounds for December, amount- ed to 1,477,08 00 pounds, an increase f approximately 65 per cent over 1922, according to figures compiled by the geological survey. Total output of refined copper from _domei sources was D d at 2,248,00( pounds, & gain of 743,000,000, WOULD CONNECT LINES. The Southern rallway asked the In- terstate Commerce Commission today to authorize it to build 23 miles of new road to ite emtirely within the corporate limits of the city of Knox- ville. The construction will sarve to link up the east and west main lines of the compafiy with the extension to Coster HESTER'S COTTON REPORT. NEW ORLEANS, January 3.—The report yesterday by Col. Henry G. Hester, secretary of the New Orleans Cotton Exchange, on the movement of the crop for the five months ending December 31, 1923, shows a total of 8,258,325 bales brought into sight, as compared with 8,128,248 during the same period last yei STERLING EXCHANGE DEVELOPS STRENGTH By the Associated Press. NEW YORK, January 3.—After opening 1 cent below yesterday's final quotation demand, sterling ad- vanced % of a cent to $427% in to- day's foreign exchange market. Most of the continental exchanges, which also opened lower, moved for- ward in sympathy with sterling’s im- provement. French francs touched a new low for all time at 4.88 and then strengthened slightly. New York bankers were at a loss to explain the heaviness of sterling and francs in London and Paris, ex- ceépt on the theory that dollar re- quirements.in those countries had in- fluenced the declines. s MONEY ORDERS EXCHANGED. For the first time money orders are being exchanged between the United States and the Irish Free State and the United States and the Stralts Settlement, the exchange having been inaugurated January 1. Money order business is also in effect between this country and the Kingdom of the Serbs, Croats and Slovenes. 13th and F 14th and F 1006 F 15th and G 9 Stores in Washington Toilet Needs at Cut Prices 50c size Pepsodent Tooth Paste. D & R Cold Cream... ze Lyon's Tooth Powder. 50c size Squibb’s Magnesia Tooth Paste.. 25¢ size Mum. . $1.00 size Delatone 50c size Hair Groom.. 25¢ 25¢c size Woodbury’s Soap..... $1.00 size Domino Freckle Cream. $1.00 size Domino Wrinkle Cream. 50c size Hinds’ Honey and Almond Cream. e 35¢ $1.00 size Othine Freckle Cream. 60c size Forhan’s Tooth Paste. 50c size Ipana Tooth Pa 25c size Listerine Tooth Paste. 50c size Pebeco Tooth Paste. .. Pack o! 20 M;ycroft Writing Paper and Envelopes *;ets and 24 envel- ENTY-FOUR opes of a qual expect to receive 25¢ size J & J Bab, 25¢ size’ Packer’s 50¢ size Bicycle Playing Card: 5¢ size Staycombr. .. $1.00 size Derwillow. 35¢ size Cutex Liquid... 50¢ size Glazo. . 50c size Java 50s si ize Levy's Lablache Face Powder.. Asurea Face Powder. $1.00 size Houbigant's Quelques Fleur Talcum Powder..89¢ Taleum Powder, 19¢ ‘ar Soap. CAMELS LUCKY STRIKES CHESTERFIELDS you would not so low a price. Comes in an unusually attractive box. An Unusual Bdrgain in Box Stationery. .. 33¢c A 25¢ Can of Gentlemen’s Talcum Powder Given Away With a Tube of Rexall Shaving Cream at 30c FIFA'Y-FIVE cents’ worth of standard merchanllise at this very special com- bination price, merely to induce moré of our customers to become acquainted with the unusual quality of the Talcum Powder and the Shaving Cream. 30c During January Only Bbth for... coveveeee vennn Hershey’s Milk Chocolate N opportunity to buy a full half - pound bar of this fa- mous Milk Choo- . Beich’s Golden Crumbles J ANUT and molas- ses skilifully com- bined to make a crisp, crunchy, delight- ful Candy. A peanut paste filling, encased in a crisp ¢ mo- nougat centers, N chocol hells. Handdomely boxed. The u‘fe: oniy made possible becauss + ‘'we make them in our own factory. ” Pound Bosx Jematt 418 7th 1237 Pa. Ave. 1715 Pa. Ave. 7th and F Sts. 904 F St. Family Remedies Cut Prices 50c size Resinol Ointnfent 60c size Sal Hepatica Bayer’s Aspirin Tablets (100 in bottle).. $1.00 size Listerine. . 50c size Phillips Milk of Magne: $1.00 size Pinkham's Vegetable Compound . $1.00 size Waterbury’s Cod Liver Oil, .89¢ $1.00 size Angier’s Emulsion $1.00 size Russell’ i $1.00 size Wampole's Cod Liver Oil, 75c 7S¢ size Mellin's Food. $1.00 size Eskay’s Food. $1.00 size Danderine.. $1.00 size Herpicide. Theatrical Cold Cream A PURE, snow-white, delightfully fragrant Cream. Cleanses, soothes, softens and heals. Profes- sionals use it because they appreci- ate its value. Regalary 75c Oty Fouma i 59c A Sale of Imported Dupont - Tooth Brushes ¢ MADE in France at the famous Dupgnt Fnct.ory. In this lot are included a great variety of sizes, shapes and styles. Buy them by the half dozen Elkay’s White PRine, Tar and Wild Cherry Compound AN old, dependable rem- E edy that will loosen difficult, tight colds. A harmless preparation and a splendid medicine for colds and kindred ailments. Have 2 bottle in your home. Regular 50c bottle Reduced during January only £0... 0.0 Puwrdledt" Giycerine and Rose Water A SOOTHING, healing liquid, almost. certain to relieve chapped skin. Use it on your hands regularly to prevent roughness. Regular 25¢ Bottle Tory oy .1 9€ 9c Re Reduced During January Special, Each.. ly 35¢ 25¢ g Roxbury Hot-Water Bottles MADE of good quality red rubber, 2-quart capacity. We are able to guann(ee it for one year, ecause we make it our- selves and know the qual- ity. Fountain SKMILAR in quality to the Hot-water Bot- tle. Complete in all de- tails. 2-quart capacity Sy i 80c $150 size Kolor Bak........ e L $1.00 size Farr's Gray Hair Restorer, 89¢ Dryco Milk (hospital size). ... $1.00 size Horlick’s Malted Milk Petrolatum, Squibb’s. .. 50c size Cuticura Ointment. 50c size Mentholatum. 30c size Musterole. . 25¢ size Beecham’s Pills. Carter’s Little Liver P; 50c size De Witt’s Kidney Pills. 35¢ size Vick’s Vapo-Rub Anusol Suppositories. 15 '1.20 Carton of 200 Cigars at Cut Prices Every Friday and Saturday in Quantities of 5 or more 15¢ straight La Rosa Aromatica 5 for 60c, 10 for $1.20 13c.Flor de Murat (Club Cabinet) & for 50c, 10 for 98¢ 10c straight Major (Maj.) 5 for 45¢, 10 for 86¢ 10c straight La Providencia (Epicure) 5 for 45¢, 10 for 86¢ 13c Major Perfectos 5 for 50c, 10 for 98¢ Week End Food Specials- 2 packages of qualit: 7 needs at dighllqunreyzhfnantthi usual price for one—but on Fridays and Saturdays only A% ‘Week-End Coffee. ... (1 1m. res. 4300 2 for 52¢ Tea..... 4 m. reg. 50 2 for 6lc 'Cocoa. .. (4 1. reg. 250y 2 for 26¢ Salad Dressingnes. 40c) 2 for 41c (Liggett's) Chocolate Pudding.. 2 for 16c (Bteg. 15¢) Cake Chocolate. . 2 for 26¢ \ | (Reg. 25¢) Z Beef Cubes. .. (Bes. 300) 2 for 31c Orange Marmalade. . . 2 for 40c (12 oz. jar reg. 39c) Strawberry Jamreg,/iq 2 for 55¢ Raspberry Jam.p &2 for 55¢ Grape Jamss os. reg. 4502 for 46¢c Peanut Butter...... 2 for 36c (10 o3 Jars reg. 35c) Vanilla Extract,, 55¢) 2 for 36c Pare Olive Oil 2%,% 2 for 99¢ Grape Jelly. . 105" 2 for 36c