Evening Star Newspaper, July 22, 1930, Page 10

sale of its own stock was put ‘out on time and call loans, and that before and after the market crash the money was converted to Government securities. Foes of the merger have accused Price, Waterhouse & Co. of making seri- {ous errors in the mugit favorable to Bethlehem, but,proponents of the mer- | ger maintain that the audit has been caretully checked by other accounting rms. Attorneys for the merger foes were victorious yesterday at the conclusion of |a three-day battle to determine the bonus paid Eugene G. Grace, president of Bethiehem. Grace testified that dur- ing the five and one-half vears from January 1, 1925, to June 30, 1930, he | | had received $5,431.684. ‘The amount of the bonus was sought Eatons Attorneys Complete Inquiry Into Bonuses of Bethlehem. By the Associated Press. YOUNGSTOWN, Ohio, July 22.—At- torneys for Cyrus S. Eaton, waging a court battle against the billion-dollar merger of Youngstown Sheet and Tube Co. with Bethlehem Steel Corporation, completed their probe of Bethlehem bonuses today and launched fhquisi- tion into the terms of the merger and the buying of stock to be voted for the merger. Following the promise of President Eugene G. Grace of Bethlehem, de- * fense attorneys furnished figures on the bonuses paid to Bethlehem vice presi- dents during 1929 and the first half of * 1930, and they were introduced into evidence by the Eaton attorneys. Vice President’s Bonuses. Grace testified yes his _own % bonus in 1929 was $i the first half of 1930, % bonuses paid to vice presidents for the same periods were: Lewis retired February 28, this year. Other officers who shared in the Beth- lehem bonus plan received a total of 1 $370.548 for 1929 Audit Figures Challenged. : _The Faton attorneys called George ¢ May, Southport, Coiun., senior partner % in Price, Waterhouse Co. of New York, % to the stand when court opened and dismissed him a few minutes later to i give him a chance to produce the source material of the audit report, . which was prepared by his firm and . used as & basis of negotiations for the Youngstown-Bethlehem deal. R. E. McMath, financial vice presi- dent and secretary of Bethlehem, then went to the stand as a “hostfle” wit- mess for the plaintiffs. McMath _was_interrogated- about a dinner at the Links Club in New York on March 13, this year, which was attended by himself, Grace, Elton Hoyt, 2d, partner in Pickands, Mather & Co., ore firm, and Grayson M. P. Mur-~ & phy, New York. stock broker. Grace, Hoyt and Murphy have testified the purchase of Sheet & Tube stock was discussed at this meeting. McMath substantiated this. . _ The witness said he did not remem- < ber any order being given to Murphy © to buy stock and he regretted, he stated, i that Bethlehem could not buy any of the stock, since it was selling at that f time around $135 a share, Murphy in a deposition has testified £ that for a few days he did not know 2 for whom he was buying Sheet & Tube 2 stock. £ Crawford then turned his questions % toward the $800,000 loan to Pickands, ¢ Mather & Co., which was advanced from Bethlehem funds without security. ature unbearable? the kitchen. McMath said he saw nothing wrong in the loan, although Grace called it ; back in a few days for fear it would £ be misunderstood by the Federal Gov- % ernment. Hoyt uked for ‘the money, McMath said. Disciaims Knnwled(e of Law. After drawing from McMath the statement that he knew H. G. Dalton, a director of Bethlehem, was a_partner in Pickands, Mather & Co., Crawford asked him: “Did you know there is a law in New Jersey prohibiting the loaning of money to & director?” or your old Bethlehem is a New Jersey corpora- n. 3 “No,” answered McMath. McMath said that $85,000,000 re- - Qi\ed by Bethlehem last year from the LANSBURGH & BRO FAMOUS FOR QUALITY SINCE 1860—National 9800 7th, 8th and E Sts. cooking equipment THE EVENING in support of the contention of me! foes that it was fraudulently conceal fd from Sheet & Tube stockholders before they ratified the merger last April. After Grace had testified, Frank Pur- nell, president of Sheet & Tube, was ordered to the stand by Common Pleas Judge David G. Jenkins. Questioned by the judge, Purnell testified that neither he nor the directors of his company knew the amount of the bonus. LA 4 Curb Imposed on Noise. | rule against all piano playing, radio loud | speakers and talking machines except the week. | COPENHAGEN (P)—A niew block of | W. H. Tschappat and Maj. F. H. Miles, | apartments has been built here with a | jr., during spegified hours of certain days of | STAR, WASHINGTON, D. C., TUESDAY, JULY 22, 1930. from Fort Sam Houmm dered to Portland, Oreg. for duty with sas City, Mo.; Capt. the Orgunized Reserves: Mal SMOKELESS POWDERS Chemical Wartare apmee, ‘from the Cavalry, at Walter ReedGerh eral Hospital, this city, has been re- lleved from duty at Fort Bliss, Tex., and ordered to Boston for duty with the Organized Reserves; Maj. Thomas De W. Milling, Air Corps, from duty in the War Department to duty with the Air Corps, Colorado National Guard, at DFHVPY Capt. James D. Cleary, Engineers, has been transferred BOARD MEMBERS NAMED |5 Col. Elwin D. Bricker and Maj. Lu- cian D. Booth, Ordnance Department, have been detailed as members of the joint Army and Navy Board assembled in this city to prepare specifications for the manufacture and test of smokeless powders. ‘They succeed Brig. Gen. War Dep-nmem, to the Philippines; Capt. R. J. Imperatori, Coast Artillery, Srom Port Totten, , to Canal Zone; Capt. J. G. Anthony, Sig- nal Corps, from Fort Sam Houston, Tex., to Fort Logan, Colo., and Pirst Lieut. H. B. Bramlet, Chemical Wnr~‘ fare Service, from Edgewood Arsenal Md., to Honolulu, Hawail. - = INSIST CN THE ORIGINAL Ordnance Department, who have been relieved from membership on the board. | ol. Matthew C. Smith, Cavalry, in | Panama Canal ‘Zone, has Capital Service Rendered with Capital Satisfaction Awnings Tents Tarpaulins Flags Window Shades Canvas Goods In the home Every American household should havé a bottle of this richest malted milk. A deep draft at night makes sound slumber. A drink in the morning sets the world aright. Safest milk for children—and always tempting. Send ten cents today for sample and mixer. Phones North 2958-2959 Capital Awning Co. William E. Russell Is your home comfortable? The matter of Awnings is of the utmost impertance in connection with the full enjoyment ‘of a home— and certainly the character of the Awnings plays a leading part in effect. Let us give you suggestions for designs; and an estimate of the cost of Awnings—as will be furnished throygh “Capital Service.” You'll find it a good investment. We will arrange to budget the modest bill for your convenlence. 1503 North Capitol Street H OIABN!IJVIISI.CONCSINK 4 S LANSBURGH & BRO 7th, 8th and E Sts.—FAMOUS FOR QUALITY SINCE 1860~National 9800 INSW I.fl'l'lfll\l out of cooking ? In partnership with the famous Glenwood AutomatiCook, which obtains and maintains correct oven temperatures auto- matically, Glenwood Insulation makes baking failures unknown, shortens the time you spend in cooking, and frees precious hours for play and rest. An Insulated Glenwood DeLuxe is the peak of perfection in modern cooking appliances. Come in to our showrooms and choose your model. Wastingron Gas Ligrr Company GEORGETOWN GAS LK'HT m\ NATIONAL 8280 BRANCH IN. AVE. bt M&!vunuo 2&&“ WEST 0615 JULY SPECIAL FEATURE VAI'UE ; : Sale! New Handkerchiefs For Men---For Women Christnias season! | offered—why be temperate? 3 for 29 3 for 39 Samples of sheer lawn, printed in the sportive manner or e]nborately embroid- ered in white or col- ors. Regulnrly 3 on Rcard, 50c. ... ... Swiss and ‘fine linen ’kerchiefs with rolled, scalloped or lace edges. Gay sport prints and white with beautiful- ly embroidered cor- ners. Regularly 3 on a card, 75c and $1.00. Tomorrow.. Women's Men’s Imported Linen Hand- kerchiefs with 4-inch hem- stitched hems. Regularly 25c. e 0000000000000 0002900090000000000000000000000000000 chiefs, our own impérta- tions—with 1;-inch hem- stitched hems. Regularly 180 .onsicie ctmucme o nn S At Action-Compelling Economies 13,224 handkerchiefs—13,224 outstanding values—but for one day only. sider your vacation needs—consider the many gift uses—cqnsider the coming , Overindulgence is economy when such values as these are Women’s hems, C broidered one day! 18¢ each..... French print hand- kerchiefs—in dozens of patterns, with tiny Guar- anteed fast color; also lawn with taped Regularly 10c.each......c... rolled hems. C borders. 30c Chiffon Costume Handkerchicfs— picot edge and all-over prints. ... 18¢c Men’s Imported White Linen Handker- 12%c Men’s lmported Linen Hnndkerclnefs, with tape and corded borders or with 1 and 13 inch* hemn. Regularly 35c each Mandkerchief Department—Street Floor JULY SPECIAT FEATURE VA4 UE Porto Rican handkerchiefs of linen. With rolled hand-drawn work and richly em- corners. Specially priced for Regularly Men’s . Porto Rlun Linen Hlulker- carefs with blue, tan and lavender hand- drawn thread. - Reg- ularly 25¢ each...... T'S hot enough in your kitchen anyway. Why per- mit an old, heat-leaking range to make the temper- Glenwood Oven Insulation is scientifically planned to keep baking heat where it belongs . . . IN the oven and OUT of ROSSLYN GAS COv CLARENDON 75 Why Deprive Yourself of Comfort? Drastically Reduced Divans That Were $13.75 to $17.50 flowered duck——wn!h all cotton pnl- ding and link springs. Some with Divans That Were $18.75 to $24.75 A very attractive lot—with green et =~ YLGLPS Luxurious, comfortable with thick cotton mattresses and backs, coil or $22. 50 hangers. Some with 6 separate cushions. * . * Gliding Divans - Covered with heavy striped and ball bearing hangers. $ 1 2 7 5 and red, mar and grey and Divans That Were $29.50 to $34.50 link springs and double ball bearing Armstrong’s Linoleum The Regular $1.50 Quality 950 sq. yd. It isn’t every day that you can save substantially on Armstrong’s fa- mous inlaid linoleum. And these are the favored patterns—with the sanitary lacquered finish that is hard to soil and easy to keep looking spic ¢ and span. Choose from blue, green, brown and handsome marble effects. Floor Covering—Fifth Floor Con- Semi-Annual Reduction Now in Effect Whittall’s - Anglo Persian WOOL RUGS By special permission from the factory we are allowed to reduce these famous rugs at this time of the year. A choice selection awaits you, discontinued patterns, of course—and most of them reproductions from Orientals. Here’s How You Save: . 9x12 Rugs, 150.00. K Now $07.00° P el 8.3x10.6 Rugs, re $138. 36x63 Rugs, 25.00. s ] were e S“" were $25.00. 6x9 Rugs, were $97.50 27x54 Rugs, were $16.00. Now $63.00. Now $12.50. 221/,x36 In. Rugs, were $10.75. Now $6.95 Rugs—Fifth Floor 3 for 35 6 for 39¢ 12 for 7S¢ Reversible qusd‘en Prints 496 yd. The colors in' these prints’ are lovely! Soft and well blended. 36 inches wide. Upholstery—Fifth Floor 29¢ 3 for 85¢ Travellers’ electric iron, light and small enough to carry easily. Fine foriron- ing baby clothes toe! Housewares—Sixth Floor 3 for 59¢ any electric light socket. Housewares—Sixth - Floor / CLEARANCE Refrigerators Marked ’Way Lower Than Usual Porcelain-lined Refrigerator, cab- inet style; kiln dried hardwood with golden oak fin-c ish; 100-Ib. size. . $39050 Cabinet Refrigerator, with one- piece porcelain lining; 3 doors; golden oak finish; $34,.50 75-Ib. size. . Side-icing Refrigerator, with in- sulated walls and white enamel lin- ing; 3 doors; 75- $24.50 Ib. size . 3-door Refrigerator, in golden oak finish; insulated walls; white enamel lmmg. 50- $19 75 Ib. size. 7. ... All-Steel Refrigerator, white enamel inside and out; glass shelves; 75bb. $39.50 size gUb ol s Quantity Limited Housewares—Sixth Floor This Graceline Bed—By Simmons With Comfortable Spring and Layer Felt Mattress $22.95 A popular style bed that fits into any type furnishings. It has all the fineness and comfort of Sim- mons’ beds! Link spring and Slepeking Mattress of choice layer felt. 3 ft. 3 in, 4 ft., 4 ft. 6 in. * Bedwear—Third Floor Airy, Ca;)l Summer Portieres $2.50 Gieen, blue, rose or tan cross stripe portieres with gdnyonnnpe.mmfi; bottom. Others at $1.95 and $3.95 Draperies—Fitth Floor