The evening world. Newspaper, June 26, 1919, Page 20

NEWPORT DEMANDS DRY BAN LIFTING TO QUENCH THIRST addieahienieiin Daniels Asked to Rescind Zone Order so Citizens Can Stock j.. Up Before July 1. Gowsial to The Drentng World.) NPWPORT, KR. 1, June %—Mayor Mahoney to-day sent a telegram to Gecretary of the Navy Daniels de- Manding that the liquor ban on New- Port be lifted immodiately so as to @ive Newporters a chance to put In « ‘Stock before wartime prohtbition goes Ante effect on July 1. Newport was declared dry by Seere- tary Daniels under the five-mile sone Yaw and recently the secretary re- fused to Uft the ban. Mayor Mahoney is expressing the it of m majority of New- the order was an unjust and bo eo interference with SPLIT DRY LAWS THREE PARTS NEW HOSE PAN (Continued From First Page.) United States Attorney from insti- tuting oriminal proceedings under « statute of the United States is mani- featly @ suit against the United States, . + It te perfectly well settled that the United States may NOt be sued except upon its own oon- sont. Such consent it has given by various statutes which do not apply to the case under vonsideration.” “The act of Nov. 2, 1918,” says Jotge H. G. Ward, who wrote the de- olsion, and which was concurred with in part and dissented in part by Judges Henry W. ‘Rogere and Charles M. Hough, “is a war meas- ure, constitutional as such and by its express termps is to continue ia force until a time which has not yet deen is the duty of the United Btates At- torney, defendant, under Seotion 771, The brewers are not subject to any sald | penalty under Internal Revenue laws, ft ts declared, “The only risk they are exposed to if they continue to brew beer of an aleoholic content not exceeding 2.756 per cont. by weight is ‘that of lorprisonment for not more ree Grenaggns yaggeh arm legiohi told « reporter for The constituted “intox- Restaurants, Saloons and All Liquor Dealers to Continue Business on Counsels’ Advice, It was whispered along Broadway at first, and then shouted this morp- ing, that there would be no general McDonald, in opening the case de- jclared: THE EVENING WORLD, THURSDAY, JU has Issued liconses to those who have applied for them to continue business after June 30 is taken to be tanta- mount to the statement that the In- ternal Revenue Department is in pos- session of the President's interpreta- tion of the law, Here is the opinion of William H. Hirst, counsel for the Society of Restaurateurs, which has been banded to the hotel men and restau- rant proprietors: “The war prohibition act was ap- proved ten days after the armistice was signed and after actual fighting had ended. Among other things it prohibits the sale of intoxicating liquors for beverage purposes after June 30 until the conclusion of the present war and thereafter untli the termination of demobilization, the date of which shall be determined and proclaimed by the President. ‘The act declares that the purposes of the probibition are to conserve the man power of the nation and to in- crease the efficiency in the produc- tion of arma, munitions and other articles of manufacture as were needed for the army and navy. “Immediately afterward plans were made for the demobilization of the army and contracts for supplies of} all kinds for the army and navy) were rescinded. Tho destruction of dangerous war material, the rapid demobilization of troops and the re- moval of embargocs on commerce | were other indisputable eyidences of the fact that the ‘war ‘danger no longer threatened us. There is no longer any necessity for conserving Man-power or of increasing effici- ency in production for the purrcses of the army and navy.” a YOUNG WALTERS ON TRIAL FOR KILLING GROCER Crime Was Committed, It Claimed, to Get Money to Take Girl to a Dance, Witliam Watters, nineteen years old, Of No. 417 Dast 68th Street, who shot Is trying to rob the caah drawer to obtrin money to take « girt to a dance was placed on trial to-day before Judge Lod and @ jury in General Sea- hapten District Attorney James “Ak few minutes before the murder of Rubin.” Mr. McDonald told the jury, “Walters met James Hillyer. Faecwr ag edhomedely for some time and asked him to go with him to stick up Weitere planned WALL STREET News and Gossip of To-Day’s Market—Present and Fue ture Prices, _—— Stock prices again to-day gave con- vinoing evidence of how they are now the money market, At the opening prices were frregu: jar mainly because no one could tell whether there would be @ lack of money for etock market pu! ‘The opening rate for loans on straigh industriat collateral wa» 10 per cen’ No encouragement was derived from this, but as the morning progreswed jects of epeculative favoritism. Chandler Motors, which, according to well defined rumors, will goon ge- clare a stock divided, was bid up for a gain of 12 points, General Motors pumped more than 7 points and the minor motor issues all moved up in sympathy. Steel and equipment stocks were in good demand. A highly favorable fluence was the annual report of the American Car and Foundry Com- pany, which showed more than $33 earned in 1918 for each share of com- |v, mon stock, Furthermore, it was dis- qosed that at the deginning of this year the company had nearly $300,- 000,000 of business on its books, and in lines with predictions recently made in this column Wall Street learned that provision has been made in @ reserve account for three years dividends on the common stock at the rate of § per cent an- nually. The stock was bid up to 112 1-2 for @ gain of 3 1-2 points, and it made a new high record for the year. Railroad issues moved indifferently. ‘The bull crowd has been endeavoring to successfully engincer # forward movement in this gtuvp, but have lacked the proper ammunition in the way of news developments. further discouraging feature of this situation was the suspension of com- mon dividends late yesterday by the Badtimore & Ohio, This was due, it is {| understood, to the insistence of the pK HRD LOW APAWAMIS SCORES. Peacock of Princeton Has 77; Marston, Baliusrol, 73. WHITE PLAINS, N. ¥., June 26.— Low score players in the Apawamis Club golf tournament this aft es ee cternoo" tper cent. income basis and that the cost to the company of the money it | 44. closing of sajoons, hotel bars and ei restaurants on next Tuesday, the fateful July 1 -On the momentous date when the law says that the sale of liquor must cease it Is proposed to go right along with the sale as if nothing had happened, The determination to open as usual is not one of sudden impulse, but one to which mature de- Mberation has been given by men ef business and on the advice of their legal representatives. ‘The presumption ts that President ‘Wilagn will set eside the wartime pro- hibition, the act having served its for the protection ind@atries and the Emigrant Industrial Savings Bank 51 Chambers Street, New York ‘The Beard of Trustees has declared © Semi-Annual Dividend at the rate of Four Per Cent. Per Annum OM ALL DEPOSITS ENTITLED 1MERETO, DEPOSITS MADE ON OR BEFORE @uly 10th, 1919, WILL DEAW INTEREST FROM JULY ist, 1919, SWAT THE Convserve Health A SANITARY FLY SWATTER FREE for the Coupon —IN NEXT— Tih claire tte LATONIA ENTRIES. RACE TRack, LATONIA, Ky. ‘The entries for to-morrow’s races are | | i Ola, “112: Weve, 118; ‘Th Set he 107; i Gallant, Site, Lage Ciamo,) | days im the reckoning, company’s bankers that cash re sources be conserved for the purpose of building up the property, and what furnished further illumination on the precariousness of the general railroad situation was the fact that the new issue of Raltimore & Ohio ten-year bonds are being offered on a 61-2 is now raising is 8 per cent. if not more. During the afternoon call money dropped to 6 per cent, which further encouraged bull speculators, The more prominent oil shares showed CLOSING QUOTATIONS. te, tat, Co aM a B + ere sajogss} s 323 + ++1enle +++1 +1 2 fe ws ” Federer leleei+ie +1 gbgagaguagetssascs®§sussags Miami Cooper oe Se Se Mo, Pacttie a8 te woes : = Pennayivantd RR... 4 Pitts, & Wet Va. 40 Reading Rap, Steal anne 8 Sinclair O01 Southam Partfio. 108 eeesr +it Uw eeeR Seerece gaghubestaysergesssg +t lteteetel Woot, By & i. 31-28, 99.30, up .06; Ist 4, 4.88, off 04; 2d 45, 93.94, off 08; Ist 41-40, 95.30, off 10; 24 61-40, 94.18, off . 0441-45, 9.14, off .03; 4th 41-49, 4.22; Victory lean 3 43, 10.06, ao. . Victory Loan 48-43, 99.88, up .02. EARNINGS. Texas Co—Four months ended April 80: Gross earnings, $26,864,711, operating expenses including taxes, $19,440,065; net earnings, $7,424,646; sinking fund and depreciation reserve, $2,783,866; balance, %4,640780; divi- dends, $1,784,375; surplus, $2,906,406; jurptus April 30. 1919, Migndlcott. Johnson. & Co.—Jan. 1 to Paved et an. all ad “tra gross p - co other ae UB oi me, $3.736, expenses est, Uk ae on profit before provi- sion for excess profits tax and Federal Leet y State income taxes, $4,914,524, Freeport ‘Texas Co.—-Four months oe March 31: Gross sales, $1,163,- 666; cost of sales, $219,000; gross profit on sales, selling and $286,831; net profit, March 31, 191: Jones Brothers Tea "to-—Pront and loss statement for four months efded April 80, 1919; Sales $6,468,757, whee gains over last night, final prices H ranging from 3 to 6 points and Texas Company at de time showed « gain of more than 9 points. The market maintained a good degree of strength to the close, Trad- ing failed to croas the million-shar mark Cope the second time since April 7. The continued atrin atringency in money has had the effect of so contracting speculative activity that the record breaking string of million share days :|in the stock murket bas finuwily been broken. In 1901 there were 44 successive days in which the turnover in stocks amounted too million shares or more, on April 7, Without ineludii two hour Saturday sessions the holi- there have been fifty. ccessive million share days since that date. There is now only small doubt but The sequence of million share | 191 days which ended yesterday began 7 {tes Vas Mg ae ‘| that the volume of trading in thé {| stook market this year will break all previous records, Thus far there have been 63 days in which the turn- over in stocks has been in excess of @ million shares. The record was .}made in 1 bata there were 118 million share day: “In Wall Street there is little doubt but that activity will be resumed on .}a million share daily basis as soon as the money market grows oaner, whioh is expected to be shortly after ‘| the turn of the new year, At present the scarcity of funds for pu of stock market spe- culation is causing such a flurry that ply mark time, so to speak, until tl ;| Money situation improves, current stringency is caused by @ number of factors, the principal ones being the withdrawal of von- siderable Government money from banks, and the withdrawal of funds from Wall Street by interior banking institutions, Because of these withdrawals no oné in authority seems willing to pre- dict what the money market will do. Rates on call loans are jumping up and down in @ highly acrobatic man- ner, A conspicuous example of money market nervousness was given yes- terday, Funds were first obtainabl at 7 per cent. and borrowings of th: previous day were renewed at tbat pew Soon rates were quoted at 10 then at 12 per cent., and in the late ‘afternoon shot up to 16 per cent., which equals the previous high mark of the year. And thea in the final few minutes of market trading they suddenly dropped to 6 per cent., the Jow of the da: . > AQUEDUCT ENTRIES. RACE TRACK, AQUEDUCT, 1. t, June 24.—The entries for to-niorrow's fo) fillies: two-venr. Tod tomlin, VF Winrar r RACE—The Artfy! HM yrar olde and “rea mt: ci ies, 8s Ter ct Mines Sear ol: Yee. ‘neo ‘Ormtal afore ee Ie = aid a! 1301 Santon: nt. ket “en a che ge a neu "one kone 1G gine. ¢ oi strike of bakers in Louisville will be called by the Bakery and Confection: Se aes, Ts ucla tioft | ery Employees’ International Union, if Mae! 118: Dorm 114;!@ committee appointed to invesugate in kB Ms. i! alleged Saori nation pitas t a yees on ai at twe ante returns J t favoring ala Profits $242,765, L C. Commission's compilation $13,248; Increase ating revenue 7,913,493, decrease 183; operating ‘income 5,780,172, crease 202,036; two months operating i net operating crease 356,948; operating 334,168, decrease 421,90! Eastman Kodak Co. ar New Jersey, 1918—Net profits after Federal taxes Ha a alhial ogainst $14,642,567 in see Cigar Corp's. combined state-~ ment—Profits of vendor ot les acquired for 3 months ended Bl, 1919, $121,964, dividends of $20,150 paid, by them, leaving surplus of ‘American Car and Foundry—Year ended April 80, 1919; surplus after and preferred dividends common stock, 181,742 or $30.60 @ share in DIVIDENDS. Mohawk Mining Company—Regular quarterly of $1, payable Aug. 1. Lehigh Coal & Navigation Company —Re "4 Syarverty of 2 per cent., ug. Ler D, L, & W. Railroad, arabia Sy 3 te CH tee 50a pare, le me Tuy 20. aividende "ot 2 pee cent. an Myer aa well as regular 1 per cent. quarter- ly, The regular quarterly dividends of 3 per cent, on preferred was also declared payable July 15, NOTES. : Porter-Werts Oil Syndicate of Cleveland, Ohio, has purchased for kine Gusher and ern © tromberg Carburetor secretary of the company lace of Kenneth Howard. Tidal Ol) Co, of Oklahoma, subsid- Water O11 Co, has pur- ‘ties of Dallas-Osage Oil ten-year 6 per cent. gold bonds to meet maturing obli- jons comprising 000 motos extended to sey 1, 1919, of K Co. and Natlonet a! ious om- | ma NE 26, 1919. Total aales of stocks, £40,300 shares. 119; Houston, 123, up 5; 28; Hudson Oi), 1 1-8 to 1 3-8; Island Oll, 8 to 8 1-4; Victoria Oil, 2 1-8 to 21-2; Ryan Oot, 5 3-8 to 5 1-% Mer- ritt Oil, 27 1-4 to 27 8-4; Conden, 10 7-8 | -2 to 16 7-8; Call, mixed collateral, lending and renewing at 9 per cent.; all industrial 9 1-2 per cent. After touching 458, a low point for the year, Sterling demand recovered to 4588-8, Franc checks were better, at 649, Pesota coe were marked lire demand 8 demand 38 6-8, cables 387-8. CLEARINGS. York §794,771,478, increase suerte: Philadelphia, $70,747,882, decrease $3,880,760; Boston 961,845,739, increase $3,196,791; Baltimore §16,190,- Buckeye Pipe, 101—108; An, a 24 1-2—25; Mfnois Pipe, 183— Ind. Pipe, 100-106; Ohio Oil, oath: Prairie Oll ex, div. 730— —_—_¥T“_—_«<—¥«—sX«€—K—X—X—X—_aSISsz!*_ - | BANKING AND FINANCIAL, STOCKS The Stoneham Weekly Market Letter hhas boon innued every Friday 1903, ull tznes and good, apart eo tae es poem Te on and comprehensively Pissed ‘manner the ‘leading and Olle, Industrials, I Mining Curb Securities! of ti cham chenld be withows this Write for the Wels Iseue, ¥-80 Charles A. Stoneham & Co. 41 Broad Street, ml York BRANCHES: trait Mllwaukse—Reaton PSC a FREE---MAP Map in colors, alse the STORY OF RANGER . ta ? Merritt, 27 to], Septembe: 19 1-4; November, 18 3-4—19 3. Lead quiet. Spot, 171 une, 5.20 3-86.37 1-2; July, 5.25—6. pelter firm, Spot, June, 6.90 bl July, 6.9% bid; August, 7.08 bid; Sep- tember, 7.10—~-7.40, ; NOT FULL OF PRUNES BECAUSE HE COUNTS "EM: Rich Parmer Also Eats Stale Eggs and Locks Apples in Trunk, Wife Avers. (Gyectal to The Evening World.) ELIZABETH, N. J., June %.—Conred Weppier, farmer of Union, reputed to be worth §100,000, was accused by his wife, Regina, in testifying before Vice: Chancellor Backes at the Courthouse yesterday of being so frugal in his 140; Prairie Pipe, ex. div, 264—288; 1, 330-—33. Pen Vacuun 4 Co,, 430—440; 8. O. Cal! 270— 5; 8. ©. Indiana, 1%6—176; 8. U. res Bo, New deree kite lew Jersey, 114—' New winds, ast ) Tank, iseeasae at) bya hh ee tnoDs old ‘stock, 3s. Oo December Metas Exchange quotes copper firm and quiet. Gpot, June, 181-8 di CHICA 26.—Chicago City Council Finance Committee to-day aries of $1,700 « :|year for policemen and firemen. BANKING AND FINANCIAL. | he BANKING AND FINANCIAL New papi Booklet ar it very unt “Metal of the Tour” for the benefit a | Investors and Traders Just off the press, is an up-to-the- minute explanation of the tremendous world-wide demand which has raised the price of Silver from 101}4 to 112}4 an ounce. Important facts about The Established Silver Companies Weics mace ee fits with the metal at and wi (reared Hhlsee bre bp sod wih lon of otra "worth of Sliver neded fo verware, moving picture films, etc., Givin’ levery Carcsigited. invator and trader dovld secure @ free copy at once. Call, ‘phone or write for No. E. W.-491 JONES & BAKER SECURITIES © Broad M4, Brood Livingston Oil reports en barrel gush- er, Northwest Extension Burkburnett Field, Texas wells drilling and 20 additional locations in the offsets to surrounded The com also reports 100 barrel well, Coweta Field, Okla. 9 additional wells are being drilled, and 25 more wells, ractically offsets, are to be drilled on the Company’s Okla- we acreage. Over 20,000 Acres; Texas, Oklahoma. Large Production and Earnings. Refin-, eries. Dividends 3 per cent Quarterly Traded in on the New York Curb Descriptive Circular and Maps on Request C.D. Knarr dz.aCo. Established 1900 Baonzrs Sincer BununaG §=NewYorn ‘Tel. Cortland’ 2543-4-5, 8273-4-5 The statements herein, while not guaranteed, have been oblained from what we consider to be reliable and authoritative sources. TEX-YORK PRODUCING Bought—Sold— Quoted Cc. W. GALVIN & CO. 50 Broad Street Phones Broad 2665-2666-7237.7238 New York