The evening world. Newspaper, May 14, 1920, Page 32

| a at they have decided to adopt. this fed ‘States, Supreme Court there is been going on @# “melon-cutting” 3 +" d rs y ‘ price infiation of commodities Of manufacturers is strikingly § thése manufacturers are dis- Je. as'income, most corporations have expanded their surplus ac- have adopted this method of but: ium of a stock dividend dis- at hardly @ day passes without a a 1p ret Converted inte stock and then ‘nee ft is estimated that the value Hf ‘tosh’ dividends cisbursed by ? 8s NKING AWD FINANCIAL, aoe rhe “Stonieh m way, THROUGH § _ of $287,000,000. FUNERAL DIRECTORS. __ ORPORATIONS THIS YEAR ROUGH STOCK DIMDENDS en Concerns Have or Will Pay Total firet of the year is not fi of a billion dollars. There is given below a list of fifty- seven Corporations that have either distributed or have decided through the vote of their boards of directors to distribute stock dividends this year, The par value of the stocks they have distributed or proposed to distribute, providing sanction of stockholders can be obtained, is more than $287, 000. ‘The list i@ by no means complete. In the first place, a large number of oil companies are excluded for the reason that in many cases thelr stock short PROFITS SHOWN. —— to Distribute Surplus gs Follows Supreme Court’ Ruling. swollen the aw the sige of the divi-| position of their securities, and no between such companies and those oil companies that because of the size of their earnings might properly dis- tribute stogk dividends. Secondly, the list given below. has been limited #0 as not to Include co: panies that have declared stock divi- dends of less than 10 per cent. There are a great many such companies and the value of their stock dividends in the aggregute would greatly swell the total given below. A certain few of the stocks men- tioned in the appended list have “no ‘par value.” In such Instances a par of $100 per share hus been arbitrarily given them. In tho case }.in the form of ‘stock cer- the Supreme Court recently that steck dividends are not ring thé period of price in- ‘ing their surplus to share- Harriman is generally With fifst nicknaming .a nd distribution a “melon- Bince big * corporations to antidipate a favorable tax decision by the of the Stutz Motor Company onjy the par value of the stock dividend thus far patd is given, The several stock dividends proposed by the compahy have been omitted. HOW PROFITS OF CORPORATIONS HAVE EXPANDED. In arriving at the value of this table as an indicator of the manner in [which profits of corporations have ox- panded since the inception of price inflation of commodities and material they produce, It should be borne in mind that no attempt has been made to compute the value of “extra” divi- dends paid in cash, which aggregate many millions of dollars. that is without parallel in porate history. if a financial “melon” through haissnow become so fashion- big corporations announcing of enrithing their share- if 8, ‘Suhkinus _EARN- 'O» SHAREHOLDERS. “Mone! ef, 1s to capl- lia Fetus earnings, Mage, 4 present to ‘stock- surpilisewaraings 80 capi- it Court recently plug ‘Henings are dis a Cash, a tax must be paid ciplent} but-if this surplus Acadia Mills . American Glue American American, Tobacco American Trading ,.100 Art Metal Const tocar fer UM row . Crucible Steel . | Detroit & Clev Ni Endicott-John: Federal Motor Fulton Motor T Gen, Am. ‘Tank Gen. Fireproofin | Gen, Chemical N | Grant Yarn Co Grassell Chem. ! Harrison- Wall Haynos Auto Hood Rubber Howe scale Co. Inter, Motor ‘Ti Katama Mills... Libby, MeNell & L. Manomet Mills May Dept. Stor ‘spin. ed no tax néed be paid. eorporations since, the the active iss: the 6,400,000 2,000,000 interested in the market, § estor or specula- to place his nane Ais aN Jerse; Nicholas ‘Tile Co. Nonquitt Spinni jueen City Cot. Reynolda, R, Russell Mf Salmon Fa Seaconne Sears-Roebuel aker Cory Motors Truscpn steel rusoon Steel Unton Bag & Pe 600,000 300,000 600,000 20,000,000 83 1-3 10,000,000 20 ahs Farragat’s Warship Bi EASTPORT. Me., May 14.—The old Warship Richmond, once a part of Far- fleet at Mobile and New Or- was set on fire yesterday for tic ‘a her Quill. She ends her career beach where other historic copper Lying in estate at|or the sam uhat.’ 6 graft, inchiding the Franklin, Wabash, RAL CHURCH | Minnesota and Vermont, have’ been burned! by Junkmen. i MAB. BELL GOL 9 FUNERAL DIRECTORS. ais ~The Cost of a Reputation to By DR. BERTHOLD A, BAER NG tell the ds a ee Rone ua supthier undertaker make arrangements for the burial of ther, en I asked sii what he charged, he snepeeas » -give you just as good service as Campbell, and for less 2 “4 * x aa money. i That got’ me a-thinking. Why should this man 13 the Campbell reputation to boost his business? If I Service’ is the standard for other undertakers to establish their reputation, then why not go he man whose reputation is established?” “There is never anything ‘just as good,’” said r. Frank E. Campbell, founder of The Funeral Church, y, at 66th Street. “It is either good or bad. >» man a lf something ‘just as good’ is in- ce, Cost ofa Reputation is too great to jeopardize you deal with a concern of good reputation, assured of a fair and square gleal; you have the of experienced men; you pay a reasonable price best. obtainable ate you have the assurance service, for the house has to uphold arepiiation and ce) L920 dividends have been ordered simply | for the purpose of aiding the market | attempt will be made to differentiate | THE OUTSIDE NARKET—2,30 P, hi. QUOTATIONS MIM MLLANEOUS 1% 900 British Am 100 British Am ‘Tob evup 900 Columbia Kmeratd 100 Cotoaial Tire 600 Ferret Coad 271 Gen Asphalt $40 Ma Mar Con! 900 Nathomal Teather 110 Nor An 15.0 F 900 Radio Com ptd 100 Kanler Motors 200 RJ Meynolds new wt 100 Standard Gas & Kleo 106 Stand Gas & leo pf. 100 Stewart Mfg © Submarine Boat Sq Auto fh ‘Sp Tool 800 U 8 Steam “ 200 United Pie Prod 1 9.United Profit Sharing 700 United Met Candy STANDARD , O1LS 209 Angio-Am Ott & 208 OM of IND) 100 Allen Oil 4200 "Allied O11 200 Mie Heart 3400 Dominic 200 Fk Mas 1000 Federal OL 1,0 Guttey 100 Home O11 900 Home vétroleu 10 Houston O11 1500 Mudvon Oi 500 Int Hetrol 700 Island Ov 500 Kay County Gas 13.0 Li 200 Merritt OU 00) Metroppatit Mex Morten= Peto © No Am Ol 00 Pennok Ol, Hips Tete 00 Phillips Pete ris 0 Hed Rock Oi . 00 Tyan OU. 500 Halt Crevk Prod STANDARD OL C0. OF NJ SURPLUS PT Gillespie «Continued From First Page.) ending Dee, 31, 1918, ‘The company had « sunplus at that time of $453 712,410 and total assets of over $691,- 000,000. By this time the surplus is probaibly over $50,000,000. Periodical reports that the company is about to declare a stock divklend of 160 per e gnored by the management f the company at No, 26 Broadway. During 1917 and 1918, ring the time the United States was at war, the Standard Oi] Company of New Jersey earned 140.38 per cent. profits, The earnings in 1917 were 82 cent. of the capital stock, these tn- mense earnings keeping pace with the steadily mounting price of gaso- line, kerosene and all other ol] pro- ducts, In 1917 and 1918 the gross earnings exceeded the capital stock Since 1912 the dividend rate has been 20 per cent, a year, For sixteen ydars before that it ran from 30 per cent, to 48 per cent. a year, In 1913 the company ‘earned §46,- 168,955, but paid $59,003,980. in divi- dends, ‘his dividend included $10 a share from repayments to, the Stand- ard Ol) Company of money loaned 10 subsidiatics before the Government discovergd that the Standard Oil mo- nopoly was a trust and broke it up. The ouvbreak of the w cut down the earnings ard Oil Comp of New $31,793,000. In 1% the most doubled, going to $61 the earnings advanced company pald $1,6 and the net f the Stand- Jersey to arnings a 000, Tn to $ wore $70 U. S. ENTRY IN WAR POPULAR WITH STANDARD OIL. The entry of the United Btates into the was popular with the nd- ard Oil Company of New Jersey. Th gross earnin, jumped to $10) and the Fede taxes jumped to 019,917, Th in gross e |ings not only are of the ernment tax enabled th inerea took birt deducting the regular ann Jend of $14,667,669. ‘The «for the year amounted 000. In 1918 the | $4,000,000 and | Jumped $19,006 | to adjustment,” urally the net earnings fell off 000,000, the amount of the tax iner and the los in gross the 1919 report is issue possible to find out readjustment” of the Federal tax Tamounted to, But the figu show » tax had not been so ab the company w {have yaken care of it in the selling price of tts product and the not earn- ingw would have the extent of | was lost in gross earnings. OWNS LARGEST FLEET OF TANK STEAMERS AFLOAT. ‘The company operates refine Bayonne, Jersey City and N. J, and at fourteen other the United States, nada, Mexi South America, . Through subsidia it conducts a vaht producing and » ing business in Kurope and it owns t largest fleet of tank steamers. afloat, [At also owns, through subsidiaries, « to $80, ings fell off Hederal | taxes gross es the it will be just) what im- the the $4.000,000) which at Dot points in and i AT OVER $500,000, 000, r in Burope | earnings | net earn. | been reduced only to | Ad Ma 1s n " 10) 1) Shell YT ety WO Kins Pet } 1100 skeny On 0 uw cer Pet ex diy a8 Pacitic Coal Tropical Oll 100 United Tex OW... } 6.0 Vytorin OL new MINING j anu “An Ain jan an Aw Am {An An | Aw 7200 Alas Br Cot 100 *Atianta 1506 “Heioher Divide 1800 *Holeher Ky’ 1000 Big 4 10.0 *Bo “Bont & ed M & Jerorns oundolaria Mt 140 Calumet | Am. Am Aw ents Fureka Hol) 600 40 Mini Am Am Am iM 180) “Gold Kewans 1000 *Gold Merger 1000 Gold Silver Bick 4700 *Gold Zone 200 Hecla Mining 0 Jumbo Bs Divito a Co. Ate! AU, Bu ston . “Kn 0 Fouls 00 MeNan *Marsh MI 10.0 "Motherlode 100 Matherlode néw 00 * Murray 1900 * North 100 Ophie 600 Prine 1000 1300 Bi Bers Wx Bur Silver 0 “Rex Cu 1700 Roper Grow 1200 Silver King of Arizona 100 8 Sitver Lead. 1000 *Siewart 1500 8 Mining 2300 Tonopalt Heimout Bar Mines Mining ha oni rr N h Extension » Midway ain Jim 400 Tonovans nopah | Onis Cain “Victor » We 1000 "Wit 0 W my Wi *Yerrington Con HONDS, Crag Con Del TODAYS PROES End Operations on the Stock Exchange | to- mostly represented the effor |of traders on the floor to “scatp" small profits, Public interest, meas- ured by the volume of outside orders, was insignificant. Up, to the begin- ning ofthe last hour transactions | totalled less than 400,000 shares, Changes in prices were likewise insignificant, During most of the day U Steel, the logical market leader, moved within a range of less than a point, The Industrial Ist, | taken ak'a whole, was about as life- No in tive for new opera- ns could be found in the character of the day's news. | What gave holders of stocks quite a jittle encouragement, however, was the action of the rails, They gave a | better demonstration of strength than jany other group, No logical reason | for this could be ascribed, other than Pum Fed. Fin Gaat s Anet r Ime Int, 1 Int, Int inn % | Ain, Xn | an.” \ eden tant elton, Atlantic Halt Cmido Cgnt Calit {Canadian ue Corn Com Cane Suge. Cwm Cal Cuban Fisk Vreaport invoral eral Mowm jeomral Motors Dt 7) Hankelt & jains He, Kom iokd 4! Alas Jin it Chake Agil, Chohien Heet Suse so wy 40% wr & MY m Cotton Oil, Stunna, Dri Synd Hide & 1. Wad Le Unwed Lovomentive Safety Haz wo 9% iz 0% an & Mot seme TR TC... | *Am ‘Tobacco . Wool ‘ Writ Ie pf ‘Tob wevuritin ‘© | am, Zine, Anacouda | Avwo. Dry Gocla Atehivoa Ry hisgn Ky pir... Coast Line. Gull dg WL. twin Laco, & Ohio Motors, a, Steel yn Rap, tutte ( terick o Vacking.. is it. Leatiber, ww De Pawo... 46 ain-Toet Prod... 40 niler Mot 15% Coes & Odio fl & St? ty M& St tk pf Ri& reat Went & No'wowt It nivia Grapli | Comy Tu & give. o Cigar Comp, she s7 1 co 104% 181% 2" st Int-Cay Mino tal Can, 1 Candy Produdts n Wrot ‘dle Steel 8 Am sugar. ‘exile Corp. Jack, & W.. . & Mo Air, 1K, ott clans, | Erie Brie 1st nous Plasera,.« |. Min, & Sm.. heady Rubber. ‘Tex ton, Wil, & eral Cigar. Klee. bent Great Nor Ry yf. Davis ‘Cananea Baer . riration Copper. . oro Con. if. 5 & Inter Agri Corp. Harvester ..... Marine, Marine yf Mieke. Paper .. Producte. Kansas City 53, ells. Sorin csey Wheel. Kennecott Financial News anv Prices ait 2 Revatone ice . | lewwn Hate toed... | tee Rath & T... | Leis Valley Lott tne Jarilland .... Tantie & Neh Maxwell Mews... Maxwoil Mot, Lat Maxwell Motrw, 2d. Mexican Petroteum P Malem csc cesescee Mulion: Body. Midvale Steel y.. Minn, & st, i, Mo, Kan, & Tot, . Mimourt War... Moutana Dower... Middle States Oil. Manati sugar j TNatiberat Acme 24 » % % % y 1 2% % cd 8} | +++44+4+4+114! Nova “cotia Steel, Oblo Citien Ges, Otome I. & RK, ‘Owens Bottling. .... Pacific Devel, Com. Oe Pacific Gas... 40% | DansAmer, Petrol, 106% Peom, ROR. Penna, Stor. People's Gas... Pere Marquette. Phila, Co.. Piers Arrow. Pierce OH. Mite & W. Pond Creek Oval. Pres Steol. Pulman Co... Punta Sugar ...... os — 4) Ray Copper Reading . . Remington Typ .... Rep Iron & Bteel.. Replogle Steel Royal Dutch Savage Arma Saxon Moto pand Ait Line Sinclatr “OW Scuthert Paci! Socthem iK'y Suathem Ry hf... 4% 33 +++ % NY | ' St, Java Lead. . StL, & San Fran, St. & Sav. Superior Steel... Shell, T. & T..... Tenn, Oop, & Oh ‘Tvxaa Co. Texas & ac, Teme Prod ‘Trane, Oi} é ‘Tranag & Williams, Twin City Raold ., Un Bag & Papers. Urion Pac . 5 Union O41 United Drog United Fruit t ESERKA SEE ST ASE R FSR EEE 8. Steel of, Utah Conper . Vea See é Va, Caro, Chent... Varuliem Steel 1, |Wabash Waban of, A. ‘© West Maryland {W Pac Cor West Union Westinghouse . wi Aes Willyeverland 5. W-Overland of .... White Motors . Worthington. Woolworth . Woolworts: uf [tee pel etl tele det 47% 10% as so 51% Os 183 + 0 +1 | ord 196 110 138 mo * Ex Dividend, that a number of the leading com- panies haye recently offered new se- curity isshes that have been quite readily taken by the public, in spite of a tense money market, In fact, the manner in which these new se- curity issues have been taken has been # surprise to the bankers who underwrote and offered them, Oper- ating on the theory that the public ts} now dudily regarding railroad issues with more favor, professional travers turned to this group to-day, seoking Speculative profits. me’ |pipe line system whieh gives It a practical monopoly of pipe line distri- [bution on the Atlantic s dT | gasoline of the Kast ix divided twee ndard Oil Company of |New Jersey and "Soc rh is quoted at around $680 a sha of dividing up the country the seven dominant companies the State of Ohio is alotted jto the Standard Ol] Company of Ohio, | which controls 60 per cent. of the gas- Joline trade In its territory, This com- | pany has immense plants at Cleveland nd a system of distrib- throughout the State considered a marvel of effi- It is interesting to note that 1911, when the Government Standard Oil monopoly to and the public was led to] at the monopoly liad received distributing stations | ny of Ohio increased in ren as T beat of which | | crency ne H la death blow, the jot the standard O}) Com in the St | nber from 100 he Latest report of member of the Standard covers the operations for the jing Dee, 3 918, he inca » is not show frures established that \the year emely profitable, | In the four years, 1915-18 inclusive, the company it current as- sets from $4,317 458,000, its t 3 7 te $2 | . and its profit and ‘loss surplus |, 0,000 10 $12, Tho net! le to the capital stock HM on Dee, 31, 1918, tal $19,-| , lela the this. thriving Oil group year end- ext a om r k of the compan n yours, 19) | capital sto | 0, In the Jinclusive, the company paid in divie | dends cent. of the capital stock and a 100 per cent, stock divi \dend, distributed in July, 1916. In jother words, the Standard OU y of Otto has paid its ab Jers more than twi the value lotock In seven years, and in 1918 had a surplus exceeding the capital stock by $5,000,000. Bidders are offering $450 ‘a share for the stock, of moi Bronx Justice Morris, decide pan: possession of, the a capltal of $ Justice Repair Cost In Defense. was rendered to~ of the Brox, nt tenant that when novation or ion for advancing rente. was that of Ida L. a rea nie secretary which raised the . 2407 Tiebout r month to $50. dd for repairs were offered a ©, and there was an added plea Morris ruled that she could charge $45 and no more, dmitted that since she came into property it had ad- depreciation, Justice: $10,000 in value. UGE DIVIDENDS BY COTTON MILLS Tears ’ in Stock Besides Large Cash Payment. IRE ra cash and lured to-day npanies here. tors of ing Comp n stock divide stock dividends by three the Pleamont recommended Mar 1 cash dividend of 14 per cent. regular semi-annual dividend 1, of 6 per cent. ‘The American Spinning Company an- nounced @ 20 per cent. cash dividend on .000 capital, payable June 1. Mrectors of the Victor m stock, which was DEPRECIATION, NOT RENT BOOST, CAUSE Decides Against Apartment Agent Who Offered ‘A decision which may serve as @ beae con on the rough waters of the apart- lay by when he landidrd has @x- pended in a year $150 or more for the repair of premises, cannot change for depreciation of value Kari- of the 1k Realty Com- rents of flats Avenue {rom $33- The moneys ex- Concerns in South Give 50 to 100 NVILLE, 8. C., May 14,—Lar; we cotton mill ac Kl of 100 per cent. and authorized the payment June 1 of a spe- and Jul Monaghan group of mills declared a cash dividend 10 per cent, payable June 1, on a 190,000, and recommender |a 50 per cent. dividend, payable in com- uted on bet he CITY ACCEPTS GIFT OF RICE MEMORIAL $1,000,000 ‘Donation for Stadium and’ Playground—Mayor Admon- ishes Bronx Park Commissioner. Joseph P. Hennessy, Park Commis- sioner of the Bronx, incurred the dis- pleasure of Mayor “Hylan and other members of the Board of Estimate to- day by his reference to the late Isaac L. Rice, whose widow wants to, give $1,000,000 to the city toward a memo- vial to Wer husband, His remark was made after Gen. George W. Wingate, speaking for Mrs, Rice, said the gift of @ stadium and public playground would be without any string, other than a re- quest that the site be located in Pelham Bay Park. Mayor Hylan told Hennessy his re- marks were improper, and that while he was anxious to have City Commis- sioners act in the interest of the public, he did not want them to discourage mil- lion-dollar gifts to the city. Aldermanic President La Guardia also admonished the Park Commissioner, A resolution was then adopted accepting the gift, eS LIBERTY BONDS. Liberty 3 1-28 at 11 A. M. 91.20, off +10; Ist 48 85.20, off 82; 2d 4s, .84, off 1.00; Ist 4 1-48, 85.70, off .30; 2d 4 1-48, 84.70, off 30; 34 4 1-4, 88.14, off 46; 4th 4 1-48, 85.20, off .30; Victory % 8-48, 95.70, off .12; 4 3-43, 95.76, off MM. * FORBIGN e EXCHANG LAR. Dem. sterling opened unchanged al 3.81; marks made a new high on the nuove at .0210 for dem. and .6212 for cables; frane chks were 15.37, off 5 cen.; lire chks, 20.62, off 15; Belgian cables, 14.45, up 6; and Swiss cables, 5.10, off 2; peseta cables lower at 16.90¢., and Stockholm cables at 21c.; U. 8. dis, on Canada dem., .9025¢.; Argentine pesos dem., 1.0360; cables, 1.0330. Merling dem., 3,81; cables 3.81 { E IRRBGU- Silver Dagger By RANDALL PARRISH (Copyright, 1920, by Randall Partisn.) SYNOPSIS OF PRECEDING CHAPTERS. A, secret service man on leave finda manctge. telling of Internanonsy intranet to solve the Coe Gans Street is to They ore led to's, tee CSS eates Rervice man, to" stent ecut hewy- for & well-known coniinental crook, funds of the revolutionists, and bi ee CHAPTER IX. (Continued.) § I advanced cautiously the full ingenuity with which the place had been prepared for just this foul purpose became more apparent. The nar- Passage I followed, my hands touching either wall, was not straight but curved to the right, and it dawned on me that it skirted the main apartment, wheré, in all proba- bility, the conference was being held, This accounted for the fact that no gleam of light was visible, and that, in antictpation of their use, separate and small rooms had been con- structed, connected together yet 80 Isolated as to permit of the utmost privacy. One of t! Harris had left me In, and now I found that the pas- sage led me not Wirect to ihe main apartment, but to another smaller room, whose door barred my progress. This, I figured out, might be the same into which Wine had entered ‘in search of Alva, when he deserted me in the front bailway. I listened intently but heard no sound within and, satisfied the room was without occupants, ventured finally to gain a glimpse inside. With eye at a narrow crack I could per- ceive most of the Interior as a gas jet turned low shed a dim, bluish gleam sufficient for revealment. Paus- ing only a moment I entered. My ears caught the sound of yoices, the words indistinet. My range of vision preciuded my seeing these few in whom I was most deeply interested, but 1 had no diff- culty whatever in overhearing their voices and grasping the sense of what they were saying. As a general thing the words uged were Pnglish, al- though occasionally some one re- quested an explanation In Spanish, which was immediately given. I drew the impression from something which was said that there were those pres- ent who did not understand the latter tongue. However, almost the first sentence overheard convinced me that I had arrived too late to learn directly ‘the nature of those instructions re- ceived from Washington. asking a question, “But we are ready to act now, said impatiently, his foreign accent faint, yet plainly perceptible, “have been ready for a month past. What necessity then is there for further delay?" f The woman, whom he evidently addressed, mus! have been véry close to the door; her voice soft, but speak- ing “with clear enunciation, sounded almost within reach of my hand. reason is Valparaiso, of course,” she said, “it is not Wash- ington’ at all, When you strike, the people must be ready there. This is not rapine, it is war, I said ten days yet. I do not know positively, the Teal aim may not be what we suppose at present. The final orders might arrive to-morrow, to-night even. You say you are prepared, Senor. That is what I was sent to learn, and I find you are not prepared. Now I shall Alva was T must have failed to grasp the full meaning of what she said, or else it never occurred to me that her retire- ment would be made through this particular door. At least she had pushed it wide open before I realized the necessity of retreat, and I was hemmed in behind its barrier, fortu- nately securely hidden from the eyes of those in ‘the larger apartment. Some one—Alva, no doubt, from his words and voice—was beside her as she emerged, and, indeed, it might have been his hand that swung the door back against me, I stood there startled, unable to move, afraid that my very breathing might be over- heard. “You leave at midnight, you say, Senorita,” he protested in Spanish; “put surely you intend to remain here at present?” “Until you reach some final deci- sion—yes; that is my mission,” . “I shall see to that at once; we will draw lots. You can wait either in this room or another just beyond Promise you wi!l not go until I see and talk wit) ou again.” “I promise that—so you are not too long. L must make that train.” ‘ “You shall muke it. My car is only two blocks away, and I pledge myself to have you there on time. All this business can be attended to in half an hour. He stepped back, partially closing the door, while she turned, her own hand on’ the latch, facing me. Her eyes stared directly 4nto mine, her face whitening under the light, her teeth shutting down’ close against the red lips as though to repress 4 scream, She was startled ulmost be- yond control, yet mastered the fright instantly. Her eyes darkened, one hand pressed conyulsively aguinst her heart; then she glanced about at the partially open door, and silently closed it tightly. “What—what are you doing hi she gasped in English, her trembling. “Listening?” “No,” 1 led, seeing but one possible ere: voice means of escape, and hoping thus to! ent her sounding an iinmediate “L was waiting for a friend I just came into this pre alarm. Who is inside. om where? "Back yonder ting alone in the dark She glanced past mouth of the black passag courage was quickly coming vith it a flash into her chy ou actually botong hei Yoy are one of these men?” Kot exuctly,” Thad to admit, know one of them very well, he stationed me out there.” “Oh, | see—on guard?” “That's about it” ‘ou were told the word *" ‘Of course.” What wa “Cervantes.” She appeared puxzied, doubtful, yet to my surprise still held the door tightly closed, ler eyes searching my face. “Who is the man you know—your particular friend?” 1 hesitated an instant, escaping me, Horner.” tired of sit- me into the the name Francs dem., 16:97; cables, 15.85. Lire dem., 20.62; cables, 20.60, . dem, 16 bd; cnblen 00 2-8 "Oh, indeed; you were Prompt to answer.” ely” § eaid, and managed not very box abandoned im or Co tka Fa ene One of thelr number nai Harri “es ‘of conspirstors le in od admits him t a Randall to smile, as though it was of little conser quence, “you see I have not aiwaes known him by that name, There at times when names need to be changed occasionally," “True,” she admited soberly. “! this. case I believe he had to range his identity to fit a Is that 1t? Do you mind gratify: the curtosity of a woman as to what h is real | Rame might be? H could not, if I so desired. Evi since I knew him he has been. aus Harris. That is all I can say.” ‘Harris! Then he is not and never before pretended to bet evens ee from the first, the n American, English or Ireh?” I shook my head. ip ‘ou won't answer, ignorance or it may ‘be ‘preteasey Never mind. I recognize your now, You were the man eating [ the saloon an hour or 80 ago. W. you waiting for tl lepris staan tot his Horner—aliad Wve met later Mer lips smiled a little, and her,eyes Did I merely dream that you ap- peared somewhat interested in me at the time, or was it true?” ‘ ered honestly; “Yet you had no knowledge ' 3 as t¢ vio T was, or why I was in euch a , place?” /Absolutely none, Perhaps tha: didn't appear the sort to be, making a rendezvous out of a saloont hows ever respectable it might be.* Ths Proprietor even voluntered the» in! formation that you were his niece,” “ Did he, indeed? That was very nice of him, wasn't it? Rather od, is jt not, that you should later drop’ in here, and find me again, What do yor saan re now « ankly, I do not know what think,” I answered at las "Your miasion here to-night, as t unders, stand It, somehow does not fit in with y natura! my :hatural conception of you as « She laughed, but inaudible to those beyond the elewed Cannot cree Saty eam e Tee Please—love her country | and be Willing to sacrifice in Its behalf?” ‘Not to the extent of treachery ai deceit; not to the end that ipa: men and women suffer hotly, forgetting caution. She stop ou ‘amuse me. “Be quiet," sho whispered, hand held forth in swift warn “They are through in there, I ti and Alva will be out in a’ momen’ Now listen! Don't ask any q’ tions, but Hsten. Will. you pled; yourself to do whatever T say?” aon any reasonable Im! ys Limits! Don't talk limits. tiently. “You say you are blind, b retain faith, Act on that fall blindly. I cannot speak here?» the is no time, no opportunity. To-mor row at 2’ o'clock, come to 27 Compte Street. Will you?” / Yea. “Do not mistake the number. for Miss Conrad. Now go back ther and wait for Horner. Quick—the are coming out.’ CHAPTER X. PLUNGED hastily into the pa: sage, and groped my way bac’ between ‘the narrow walls td th secluded room in the rear. I wt too confused, too startled, to even| think clearly, My conception of this| woman, her nature and her purpose, had been changed a dozen times dure ing this brief conversation, Even now I was utterly in the dark. ‘Was this engagement for to-morrow @ decoy? A shrewd effort to detect me, and lead me into a trap? or was it ex~ tended honestly and with some real object in view? The situation was impenetrable, No explanation I could conjure’ up brought any satisfaction. I could only sit there in the dark on the bench, and wait the return of Harris, withs out so much as a clear thought to guide ime. Did the woman know me? Or suspect the reason of my presence?’ That was manifestly Impossible, She was utterly strange to me, and she Way eet ome to be easily forgotten, then, wa iat she trust me—if it egan to think Harris : away with the others and tots there alone, 1 heard voices speaking earnestly in the distance, but without turing forth from my ‘hiding plaes. Nothing was to be gained by expo. “sure, and, as these sounds grew lees and finally died away altogether, I became convinced that most, if not all, had left the building. ‘Then he appeared suddenly, bringing in his arms a bottle frpm the shelf in the other room and the box of cigars. “Tourl a match to the gas jety Daly," he said, feeling for the table in the dark. “That's better. T hung: around until the gang all got out, ae s to he suro we were safely alones This is a safer place to talk over proc vate ffairs than vate, downtown in aj He sat the table, nu i knee, rather ploased with Nite ® thought, a cigar thrust between his lips, the blue smoke curling up before his face. I ignored the invitation ta nk, but holped myself to a weed. waiting for,him to open the conver + satio on he sald finally, “everything ing according to Hoyle, but there is a knot or two yet to be untied bes | fore we squeeze that million, Wh j to, vou ray, Daly?” ps ae T don't know how 1 can Say any~- {thing until I get a climpse at youn | cards," I returned, “and am on to the game That's true enough.” Did was said in there?" 4 hoes : you told me to stick here,” Still In a way you're on—Weldron must have spilled part of the scheme to you, that's what got your foot tn the mess, Hell! I know Ivan Wal- dron, tha damned Russian Jew; he'd double-cross his best friend. ‘Wh; was it he told you? nm (Another Exciting Chapter Te» Merryw Ww