The evening world. Newspaper, July 7, 1922, Page 11

- eee THE EVENING WORLD, FRIDAY, JULY 7, NOT ON THE TICKER IN WALL STREET ‘An Intimate View of Financial Men and Affairs. ain: 3 Exchange of Stock, Mexican Pete for Pan American, * Interests the Street. , « ByR.R. Batson. For @ brief time yesterday New York Stock Exchange authorities had @n opportunity to entertain pleas- urable thoughts regarding stock of the Mexican Petroleum Company. ‘They read in the morning papers th the management of the company plans to withdraw the stock from the mar- ket through the expedient of having stockholders exchange it for shares of the Pan-American Petroleum Com- pany. But their enjoyment of this pleasing prospect was short-lived. Announcement was soon made in semi-oMclal quarters that nothing of the sort is planned. Yet the Stock Exchange need not be dismayed. Despite the semi-otf- cial denial issued yesterday there are excellent prospects that this trouble- some thorn will be withdrawn from the Exchange's corporate side. Investigation has developed that the denial of the story involving an exchange of stock Is more or less technical, The facts are as follows: Higher officials of the Mexican Petroleum are no more pleased with the manner in which their child has been kicked around on the Stock Ex- change than officials of the Exchange have been at having the kicking operation performed within the osten- sible financial sanctity of their domain, The remarkable gyrations Pete have brought consid- opprobrium on the Exchange. but in so far as corrective measures are concerned, the several investiga- tions the Exchange has conducted have gone for naught. As an instance, when the lust investigation was ordered Mex, Pete was sefling at about 186. It dropped 10 points within a day, then rose nearly 30 points and within a very brief space of time has slumped approximately 40 points to the accompaniment of the oft-heard. salt water story. The disgust of Mexican Petroleum Officials at this and past performances apparently outwelghs that of Stock Exchange governors. The latter have exhibited a marked reluctance to take decisive action. But mana- fers of Mex. Pete are considering Plans to stop the performance. For some time holders of Mex. Pete have had the opportunity of ex- changing thelr’shares for the non- voting “B" stock of the Pan-Amert- can Petroleum Company on the basis of one of the former for two of the latter, But the proposition has been unattractive because recent! shares of Pan-American “B’ have not been within from 20 to 80 points of the market value of one share of Mex. Pete. Managers of Mexican Petroleum have discussed In a more than tenta- tive way the advisability of offering a larger amount of Pan-American for each share of Mex. Pete. It has been virtually decided to increase the offer, but final decision az to terms rest largely with FB. L. Doheny Chairman of the Board of Directors ‘The current market prices of the two stocks plainly suggest that the published statement that the ex- change will be on the basis of ona share of Mex. Pete for two shares of Pan-American “B" Is not wide of the mark, Mex. Pete is quoted at sbout 165. Two and a half shares of Pan-American “B” are worth ap. proximately 167 at current market prices. An Interesting market situation. ts @eveloping in shares of the Convol!- dated Gas Company. It is understood that three of the larger brokerage houses in the finan- cial district have sold the stock short to the extent of an aggregate of some- thing like 75,000 shares. This short selling has been in anticipation of the conversion of the company’ bonds on Aug. 1, Through the conversion of the bonds there will naturally be a large Increase in the floating supply of the stock, and heavy market commitments have been based on the theory that the increase in the supply available for trading purposes will result in a decline. But there are interests who pro- fess to know that there has been quiet though persistent accumulation ef Consolidated Gas by bankers closely identified with the property, and that big traders who have been expecting a drop in the stock afte: bond conversion are due to have ‘hair calculations rudely upset. It 's suggested from a well-posted source that accumulation of the shares is part of an arrangement to have employees of the company par- ticipate in a profit sharing plan. pons ttt VETS PROTEST ART TUTORS. Further protests were made by dis- abled veterans, former members of the Society of Illustrators’ School, last night at a meeting at the Art Centre, No. 65 East 56th Street. The school was closed June 30, after the Illustrators had re- to agree to a new contract sub- ‘Witted by the Veterans’ Bureau which required acceptance of pay and included Instruction by paid civil service em- ployees. Yesterday a committes of students presented a protest to George E. jams, istrict’ manager of the Veterans Bureau here, asking that the society be Tequested to resu its “price’ and and protesting that form of art Instruction an take the place of individual teach- ng along the lines which made members of the’Soclety of Illustrators famous, Se SS SSS ee Oe oOo oo OS Eo BoE Be BB So oo a a Oo Bo DOT TTT TESTOESESS Am Ag Chom Am Ag Chem pf. Am Beet Sugar, Bosch Can Can pf. Car Foundry, ies Chicte e..66, 1 Am Drug Synd.. Am Hide & Leath tam Ice .. Am Am Am Am Am Am Lin Olt pf. Am Locomotive . 114% Am Safety Razor Am Bhip & Com. Am Sm & Refin.. An Am Am Am 8m & Ref pt Steel Fary.. Bteel Fary pt High. i Adams Express .. 65% Adv Rumely pt. 49 40 Air Reduction ... 68 38 Ajax Rubber 6 46 Alaska Gold Min % —% Allied Chem 00% Allis Chaim 49 Allis Chalmers pf 96 96 am Am Am Am B Am Wat Wks@El 17% 17% A WWE! Ope pf 42% 41 Am Wool 1% 90 Am Wr Paper pf 20% 20% Am Zine % 11% Anaconda 52% As D G'ds 80% Atehiaon 101% Atchison pt. 80% Atl Birm & At 3% Atl Coust Line 100% All Wrutt 24 Au Gulf é Wi 38 At Gulf & W 1 pf 28% Austin Nichols Balwin Loco. Balt & Onto Balt & Ohlo p Barnadale A. Barnsdale B Batopsias Mining, Beth Steet Beth Steel B Beth Stee! pt 7 pe Beth Steel pf 8 pe Booth Fisheries... Brit © sti Ast pf Brit B Stl 3d pt Brooklyn Edinon.. Bkiyn Rap ‘Trans ic Rap Trans cts Bkiyn Un Gas Burns Bros A... Burns Bros B. Hutte C & Z Butte Superior Caddo Oil Cal Packing Cal Petroleum .. Callahan Mining. Canadian Pacific. Cent Leather ... Cent 14214 B8% Kwather pf. 7 7 Cerro De Pasco. 87% 36% ndler Motors . 11% 00% 4s & Ohlo cht ent chi chi ent ¢ &4H Ul ptN t West .. Chi G West pf GM & St Paul CM & StF pf. Chi & Northw ChiRT& Pp. CR I&P 6 pe pt \ 1aP 7 pe pf Copper Chino Corser: Bt Lee. Cluett. mentees i Coca-Cola ss... Col Fuel & fron... Col & Southern... Columbia Gas... Columbia Graph... Comp Tab & Rec Conaol Diatribyters Consol Cigar Consol Gas Conaol Textile Cont Can Corn Prodi Cosden Copper Crucible Steel ... Cuban Am Bugar Cuba © Bug ...5 Cuba © Sug pl . Davis Chem De Beers Min Del & Hud . Del Lo & West Dome Mine: Du Pont Bast Kodak El Stor Bat Elkhorn Coal Endicott-Joh Endlcowt-John pf. Famou Famous Play pt. Fed Min & Sm pf. Fisk Rubber Freeport Texas... General Asphalt . Gen Asphalt pf. General Cigar .., General Blectric . Goodrich Granby Mining .. Gray & Davi at North pf. eat Nor Ore ots Greene-Cananea Guan Sugar .. Gulf Mobile & Nor Gulf State Steel. Gildden ON ... Habershaw Elec . Hendeo .... s.se Houston Olt Hupp Motora Hydraulic Steel . 11% 10% Hudson Motors . 23% 23 Iilfnols Central .. 108 108 Indiahoma Refin. 48 Int Comb Eng... 24% Inspiration Cop.. 41% Inter Cons Corp.. 1% Int Cons Corp pt 3% Intetr Chem pf.. 38% Inter Cement..... 34 Inter Mer Marine 19 Inter Mer Mar pf Inter Nickel Inter Paper Iron Product Inland On Kresge... Lacka Steel Laclede Gan . Lake Brie & W pt 63 Lehigh Valley Liggett & Myers Lima Locomot) Loew's Ine Loone- Wien Lorillard Louis & Nashville Mallinson & Co.. 35 84 Manat! Sugar a7 oat Net Net ‘Last. Ohge. High. High. . ae 6% Man Blec Sup... 51% Va Iron, © & C.. 40 Man Elevated ... 47 Vivaudou, Ing . 33 Mark 8t Ry pr pf 61 10 + Mi] Marland on ..... 4% farlin Rockwell. 18 Wabas 4 00% Martin Parry 32% Wen We cig pes 0% + 1%] Mathieson Al .... 48° West Md 24 pt + % 06 + 1% | Maxwell Mtrs A. 68 + ‘Weat Pac - s 90% + M| Maxwell Mtr B) 24 + 4 tnios re die 04% + YI May Dept Stores. 118% 119% 113% — 1% h'ae Al ~ 4% a Mexican Pet y — 2% ‘K'N'ne Klec.. +% 41% + %[ Miamt Copper . +4 | whee t ‘ + & 40% + 1%] Middle Btatos Ol. 14 13% 13% — Kl whois LE pe. nar’ 108 + MP Midvale Stee! 3% 4% BM KT vite Motore” ae 1 +2 Late Nae tai] wnite on... + % dds u Wickwire Steel —-— % Near = 4 | Ovenang oth = s + 2% = Af Wisconsin cen mk % [Wort Pump... 49 48 48 — + % $B] rex aivtaends. + & {TR} Totat sates, 1,010,100 + % POR 4 als LIBERTY BONDS — || National Lead + 4%] Liberty 8%s opened 100.50, up .06; eu ag y .50, up .06; wet im | Naveds: Consot. _ | Ast 4445, 100.54, up .04; 2d, 100.14, off oe + % = ,#].04; 8d, 100.20, up .02; 4th, 100.86, off 8% + 4 jm] 04; Victory 4%s, 100,00, off .02. 9% — 4 FOREIGN EXCHANGE OPENED + | Nortolk southern 21% 21% IK 4 EASIER, Norfolk @ West.. 111 100% 110 o d — MI] North American. 65% 64% “O% + Lg ty ete tc whines (obec + [North Amer pt % 42 + att -8, off 1-8. French francs, de- = 14 | Noehen Peo. 7 } gf] mand, .0791; cables, .0701 1-2, aft 17% + %4| Nunnally Co. ° — 4] .0012 1-2. Lire, demand, .0437 1-2: ay+ 4% 3% cubles,” .0438, off .0006 1-2. Marky, |" 00% + 1% 1% + %] 0019, off .0002 8-4. Guilders, demand, 2915 12% +1 | 8868; cables, .8873, up .0008, Ti Me Hi ; 4 t & | giun francs, demand, .0 1 Resopeaas Md + 6) 0736, off .0010. Dr: Ppedatiid | ERR TI teu TA] .0304; cables, .0806, unchanged. Swiss Bn by al Panam set coe 60% — 14 | francs, demand, .1908; cables, 1910, 3M -Amer Pet B 67% 63% —14| unchanged. Pesetas, demand, .1554; 100% — 1%] Parish & Bing .. 1215 12% cables, .1556, off .0011. Sweden kro- 2% — HY] Peni RR... 44% 48% 44% + 15 | nen, demand, .26 590, ua 88 — %] Penn Seaboard .. 9% 8% — “Tl echanged. Norway kronen, demand, wy — & Led Manuaty: ae rtd ie ic +1660; cubles, .1665, off .00 De 4 | Pere we) tater ot Ff | mark Kronen, demand, .2165; eubl + | Philadeipnia co Heth a aa + 2 | Phillips Pet is ie 7 ++ 1%] Pierce Arrow .... + oh 4 1%] Plorce Arrow pf. + %] Pterce O11 .. + %| Plerce OW pe. — | cPittsburgh Coal. Pitts & W Va + | Pond Creek . —-% Postum Cereal .. + 2% Pressed Steel Car + Producers & Ref = 4] Pullman Co ... PELL LEE EL FEL EL EH FLERE FEE Fe tetse | 4 teeetey te + } i a ins 2 a + +3 Fe a + + + + + + + + + 10% + Be 16 « + ie + + + ite * + + A + + + + i + + + + BO + a + ee see So skeeke Ss Foe” weer Beles | Feeerrece eo sees "ee F see - » # HeSeKEK SSeS SR SHS en F Freer £ ween Fee Seerbiee” x comme eeRE ore) Pure Ol . Rand Mines Ray Consol Reading .. Reading 24 pf, Replogle Steel Reynolds Tob pf. Kepublic Motor: Royal Dutch REERALEK SES Santa Cec Bugar. Saxon Motors .. Seaboard Air L. Seneca Copper Shattuck Ariz Sinclair O11 . Sloas Sheffield Southern Pac Southern Ry Stan O of N J.. Studebaker Submarine Boat . Superior Ol! Superior Steel Bpicer Mts . Texas Co Texas Pacific ... Unton O ... Union Pacitic . Un Ry Invest pf. UsOTP,.... “ U 8 Food Prod.. U 8 Ind Al U S$ Ind Al pf. U 8 Realty .. U 8 Rubber U B Bteel ..... U 8 Bteel pt INTEREST & New cash disbursem: The se be credited period ending iS Begining dividends wilt beretotore. ¥ G. Di Jos) PER 4 Punta Aleg Sugar Remington Type. Republic Bteel ... Republic Stee! pf Reynolds Tob pf B S1L&@ St Fran pf 51 59 = OL St L Southwest... St L & Bo'west pf 48 Seaboard A L pf. Seara-Roebuck ... 80 Porto Rico 8.. Southern Ry pf.. Standard O of © Stan O of N J pf 116% Btewart-Warner . Stromberg Car .. . 184% Tenn Cop & Chem Texas Gulf Sulp. Texas Coal & Oll Twin City R T.. United Alloy Steel Un Retall Stores U 8 Rubber 1 pf Pyramid Pictures, Inc. 150 West 34th Street, Pyramid Piotures, tne.” Savings Tank 188 AND 130 BOWERY Branch 62 Liberty wt, New York, June 12, 1923, A semi-annual dividend at WOU PER CENT. per annum bas been declared and will sums trom §9 to $9,000, and will be Payable op und after Mouday, July with pn iy quarterty instead of semi-annually as WILLIAM as KNOX: Pibecrvst EPH G. LIDD! A BTENH » 4% + +b + Re. eeeE HSE FES P+t++i4] « FFF FES 188% 45% BOK 40 4g ERR Re ++) 4144+ 8% 8 ++ a 4! Fe lait +) ++t+ * # | +] 3 #) RRS + + 14+ tl DIVIDEND NOTICES. York, N. Y. announces a ent of fifteen per cent (15%) to untt holders in l’yramid Byndi- eate No. 3, payablo July holders of record July 4, iz. R. M. SAUZADE, Secretary. FEM ita Ms 10 to unit SAVINGS BANKS, i Bowery 19 Fate of to depositors for the June 30, 1922, om all bee 10 ‘ei draw tee 1, 10Re, tom, be credited and paid toe BLANATEN teste mammal UNION FERRY CO. Denies There Has Been Secret Deal for Purchase of Nine Antiquated Boats In denying to-day that there has teen @ secret deal between the City and the Union erry Company tor the purchase of that company's nino antiquated ferry boats and ferry houses, Grover Whalen, Plant and Structures Commissioner, admitted to-day that the City is at the mercy of the compeny and that unless leent means can be found for the seizure cf the slips the company will be able continue charging 7-cent ferriages. If the Union Férry Company should decide to close down to-mor- row and withdraw its boats from tir Whitehall, Hamilton Avenue and At lantic Avenue routes and from th Fulton Street to: Sulton Street rout said Commissioner Whalen, “the city would be entirely at the compan merey. If the city conld not obtain the nine boat~ of the Union company it would not be able to find other suleable boats in the harbor, T would like to be in a position to operate the lines of the Union Company by Aur. 1, but the city will never agree to pay the price fixed by the company, £1.500,000, SAVINGS BANKS: : |B ELSIOR SAVINGS BANK HAS MOVED TO by- ander Ta the on Jt Depostts made on or before Jnly 13 GREENWICH SAVINGS BANK Sixth Avenue and Sixteenth Street, New York DIVIDEND TO DEPOSITORS, JULY 1, 1922 AT Depeie mate oo Kour Per Cent Per annum, payable on and after july 17, 1998 or before July 10 are entitled to interest from July 1, 1922, CHARLES M. DUTCHER, President L.DeG. QUACKENBUSH, Treasurer FRANCIS M. BACON = & For Home -Building an FIFTEEN PARK ROW (GROUND FLOOR), NEW YORK announces its 67th cash dividend at its usual an- nua rate o! 41“) on Saving Share accounts to and 5°, with an extra dividendof ! “i of 1% on instal This pridently inan Independence ani to homes, Savings by 1 uly Open Eves. Coxcept Sat.) to 7 su ae 13. Money earns rom [e) 12 STORY FIREPROOF BUILDING Interest on Deposits will be credited quarterly— October, January, April and July ACCOUNTS CAN BE OPENED BY MAIL WILLIAM J. ROOME, President JOHN C. GRISWOLD, Comptrolle-—ARTHUR PLAGE, Secretary Secretaries fety. fe 1922. SOCIALISTS SEIZE AIR CONTROL BY U.S. TOWN IN GERMANY; IS SOUGHT IN TESTS POLICE BESIEGED Government Fears,.to Send Help as Workers Patrol Streets of Zwickau. IN, July 7.—Following the > Fokker, Dutch’ Expert, Aiding WASHINGTON, nauties, naval A. HG. monoplane, Germany for costia Naval OF NAVAL PLANES curate upon battleships. In active Trying Out Machines at Washington. British design, dam country, July 7.—Torpedo outbreak of civil war at vurtous| planes of American, British and} ander N. polnts in Germany, as a consequence} Dutch design are undergoing eid ‘i of the demonstrations against the|competitive tests at the Naval Air monarchists, workmen and other radl- cal members of the three Socialist Parties last night were in possession |, of the town of Zwickau, Saxony, and had the police besieged in tho local barracks, It 14 said the police at first threat- ened to fight their way through the demonstrants—there were 80,000 of them, but, realizing thelr numerical inferiority, they submitted to being besieged, Workmen's patrols have now taken charge of the policing of the town, ‘Tho Saxon Government ts withholding reinforcements for the police In the hope that the violent feeling will sub- wide. The crisis throughout middle. tn- dustrial Germany 1s being intensified by orators of the local Communist parties and the Left Socialists, who are calling on the workers to take things into their own hands if the Reichstag fails to pass the drastic counter-revolutionary laws now pend- ing. The workers are urged to re- move ull but known Republicans from the police and the Reichswehr. The situation is tense as regards the workers and police, but Is re- leved somewhat by the workers’ faith in Wirth to force the new laws througl: the Reichstag. They showed surprising restraint at the chateau of Count von Gneisenau, near Magdeburg, where all the evi- dence shows that the Count and Capt. von Rosenberg, superintendent of the estate, shot Into the ranks of the workers, who had demanded the removal of the Imperial flag. Gnelsenau and Rosenberg are known for miles around as unbending Tories, an attitude which It is folly to parade In that industrial region, populated heavily by miners, The sieze of the estate, which be- gan Wednesday, ended during the night, when the workers captured tt. They conducted the defenders, who were wounded, to hospitals, and also provided the women with safe escort to Magdeburg. Newspapers in the Interior say such incidents are without parallel in Germany since the peasants’ war of the Middle Ages. The Government is determined to force through thg,radical measures against the react! . but no vote can be taken before Monday. ‘The Independent Socialists threaten a break with the Government if this tails. ei AVOIDING THE ABRUPT NEGATIVE (From the Washington Star.) “A man must learn to say, 'No,'" remarked the moralist Not & man in my position,” replied Senate Sorghum. ‘There are re quests, of course, that must be reg fused, but one of the arts of polities is breaking the news as gently and deliberately ax possible.’? _SAVINGS BANKS. ITs WN NEW | PER ANNUM on all sums of and 4 will Grae interest treme July 1, 1988, THE RATE OF | Hereafter dividends will be credited and paid quarterly. De- posite accepted from $1 upwards. B. OGDEN CHISOLM Savings nent ant neome sare accounts, nded 1886, state supervised, | ‘ged, Is helping thousands to | | # saved on or he‘ore July 13 | Station hore, a plane th which the lead In aviation, This announcement the » with a ylew to evolving t will be the Jast word in construction of its kind, and will put tho United States ir tuche. ielsy Include a “CT” 400-horse power tured by th was made by y Department last nizht. The tests are being carried on under the supervision of the Bureau of Aero- Foremost aircraft design are directing the daily test for the fights. Fokker, and builder of the 60 extensively used by pursuit purposes In the war, Air Stetion, the tests of an adaption of the fa- mous Fokker plane designed to meet the requirements of switt torpedo attack from competition Fokker are types of American and The subjected to Initial tests at Amater- before it was brought witnessed H. White of the U. 8, ‘The contending British plane wos subjected to trials in England under the eye of the American Naval At- Other planes which have been subjected to tests in this biplane having two engines, Curtiss Airplane and Motor Corporation, an unbraced run- oplano having a wing structure of authorities on actively Dutch designer famous Fokker and combat 4 at the Ana- directing | present. and ac- he air with the Fokker ‘was to this by Lieut. Com. | development, over the world. nnection manufac. rid bootleggers.”” “Nor 1 duranum metal sheeting and twin 300- horse power Packard motors, butlt the Stout Engine Laboratories of trolt, and # biplane, type “DT,"* a single Liberty engine, manu: jected to test fights at the Naval Air Station at Rockaway recently, and not be further tested here for the The Fokker monoplane is powered by a single Liberty engine. opinion of naval experts, the torpedo launched from aircraft will be a weapon of the most Importance in bringing victory to the force having;/7 at Ita command the most highly de- veloped and efficient torpedo plane! The Bureau of Aeronautics is in the race to take the lead tn this important The problem is en- gaging the attention of experts all In the The launching of a torpedo success’ fully from the alr heretofore has pre~«" sented difficulties and problems which » manifested themsleves in many forms, , peibenpeces~*tvwdinste IN KENTUCKY. (From the Louisville Courier Journal, “I wouldn't mix up with these hor Now we have our stuff lett quietly by the milkman.” OME- - TIMES MORE 1329-1331 BROADWAY at Gates Ave, “L” Sta. BROOKLYN FULTON ST. STORE CLOSED ALL DAY SATURDAY DURING JULY AND AUGUST Remarkable Values—Saturday At Our Two Branch Stores 1329-31 BROADWA 'Y¥ at Gates Avenue “L” Station BROOKLYN Extraordinary Sales and Purchases Exquisite Summer Frocks Tailored Models and Ruffled Organdies Figured Voiles and Imported Ginghams Misses’ Sizes 16 to 20 jewantes shades and color combinations. FOR SATURDAY Georgette Dresses Formerly to 15.00 y (oi A superior grade of georgette in beautiful floral designs. Dresses ot rare charm for t Women and Misses. | FOR SATURDAY Sport Silk Skirts Formerly to 7.75 3.05 Baronette satins and fancy silks in light | Summer shades. 24 to 32 waist measure. 295 Scores of new and enchanting models, embracing every late style innovation. In all 36 to 48 FOR SATURDAY Draped Silk Frocks Exceptional Value 2 9-50 Crepe Romeine, Georgette and Canton Crepe— new drape and panel effect. FOR SATURDAY New Sport Jackets |: Formerly to 6.75 4% Tailored models with notch and Tuxedo collar, ra] with or without sleeves, in bright sport shades. Special Saturday 500 Summer Silk Frocks Models for sport, afternoon and resort wear, out-of-door Sizes for Women and Misses FOR SATURDAY White Wool Sweaters Formerly to 1,95 1* All-wool slip-over models in fancy weaves for sport wear. _ FOR SATURDAY French Voile Blouses Formerly to 149 89c with also Tailored models imported collars and cuffs; several frill gingham models, fetes and all other occasions () Printed crepe de chine, striped eilk, Canton crepe, georgette and sport silks. Scores of the season's foremost models with newest trimmings, in Summer coloring. Values Up to 25.00 FOR SATURDAY Wool Bathing Suits Formerly to 4.95 9.95 One-piece all-wool bathing suits in all shades with white belt and buckle. FOR SATURDAY Formerly to 5.25 3% Dark voiles line models; sizes 42 to 54 4810-4812 FIFTH AVE. Near 48th Street BROOKLYN 4810-12 FIFTH AVE, Bet. 48th and 49th Streets Our patrons who find it necessary to shop on Saturdays will have ar opportunity to do so at either of our branch stores.’ They are both conveniently located. Women’s Sizes “Stout” Voile Dresses ured and floral designs; long-